Author: admin

  • Oil prices rise as tensions flare in Yemen

    Oil prices rise as tensions flare in Yemen

    Moscow claims Ukrainian drones targeted Russian presidency; investors await US stockpiles report

    A view shows oil pump jacks outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. Photo: Reuters


    NEW YORK/BENGALURU:

    Oil prices rose by more than $1 on Monday as traders braced for potential supply disruptions in the Middle East due to rising tensions in Yemen, and Russia accused Ukraine of launching a drone attack on its President Vladimir Putin’s residence.

    Brent crude futures rose $1, or 1.7%, to $61.64 a barrel by 1818 GMT, while US West Texas Intermediate crude was up $1.10, or 1.9%, at $57.84.

    “The market’s focus has shifted toward the Middle East, where fresh instability, including Saudi air strikes in Yemen, is keeping supply-disruption headlines in play,” Gelber & Associates said in a note.

    Yemen’s Saudi-led coalition said any military moves by the main southern separatist group in the eastern province of Hadramout that undermined de-escalation efforts would be countered to protect civilians, the Saudi state news agency reported on Saturday.

    An escalation of fighting on Thursday killed two people from the separatist group Southern Transitional Council’s Hadhrami Elite Forces in Hadramout, the group said in its statement. Saudi airstrikes followed early on Friday, targeting the STC forces in the area, a source told Reuters.

    Elsewhere, Moscow accused Ukraine of launching a drone attack on the Russian presidential residence in northern Russia, due to which Moscow now plans to review its position in peace talks. Ukraine dismissed Russian statements about the drone attack and its foreign minister said Moscow was seeking “false justifications” for further strikes against its neighbor.

    Prior to these developments, Ukrainian President Volodymyr Zelenskiy had said on Monday that significant progress had been made in talks with US counterpart Donald Trump and agreed that US and Ukrainian teams would meet next week to finalise issues aimed at ending Russia’s war in Ukraine.

    Trump had also held a “positive call” with Putin about the war in Ukraine, White House spokeswoman Karoline Leavitt said earlier on Monday.

    Oil benchmarks had dropped more than 2% on Friday, partly due to rising hopes of a Ukraine peace deal.

    Strong Chinese waterborne crude imports are also helping tighten oil markets, said UBS analyst Giovanni Staunovo.

    He added that $60 a barrel was the soft floor for Brent, with prices expected to recover slightly in 2026 because non-OPEC+ supply growth is likely to stall in the middle of 2026.

    Energy investors are also waiting for data on US stockpiles for the week ended December 19. The report, which was expected to be published at 10:30 a.m. ET on Monday, was delayed without assigning a new publication time.

    An extended Reuters poll showed US crude oil inventories were expected to have fallen in the week ended December 19, while distillate and gasoline inventories were expected to have risen.

    Continue Reading

  • CCP reviews competition in insurance, gold sectors

    CCP reviews competition in insurance, gold sectors

    Studies flag low insurance penetration, informal gold trade and market dominance as key challenges

    At current prices, the looted gold is worth around $70 million. PHOTO: PIXABAY


    ISLAMABAD:

    The Competition Commission of Pakistan (CCP) expanded its market research activity in 2025, releasing competition assessment studies covering key sectors, including insurance, power, gold, pesticides, steel, LNG, road infrastructure, sugar and fertiliser.

    According to a statement issued on Monday,the Commission also established a Centre of Excellence in Competition Law (CECL) to support evidence-based policymaking and legal and regulatory reforms. The centre is conducting studies on the automobile industry, civil aviation market, solar energy market, cement sector and the impact of mergers in the telecom sector.

    A detailed CCP report on the state of competition in Pakistan’s insurance industry identified low insurance penetration, limited outreach and a fragmented legal and regulatory framework as major challenges. The report noted that insurance penetration in Pakistan stands at 0.87%, compared to a global average of 6.7%, and highlighted the need for reforms to improve competition and consumer welfare.

    The Commission also released its first Competition Assessment Study of the gold market. The report provided an evidence-based analysis of a sector characterised by informality and pricing opacity. It found that more than 90% of gold trading takes place outside formal channels. The study examined the potential impact of the Reko Diq copper-gold project on domestic supply chains and recommended the creation of a Gemstone and Gold Regulatory Authority.

    In addition, CCP issued competition studies on the pesticide, steel and LNG sectors. The pesticide sector report highlighted Pakistan’s reliance on imported agricultural chemicals, the prevalence of counterfeit and substandard products, regulatory bottlenecks and weak enforcement affecting farmers and crop yields.

    The LNG study identified dominant positions held by state-owned enterprises, limited private sector participation, restricted access to infrastructure and the impact of circular debt exceeding Rs2.8 trillion on market competition. The steel sector assessment outlined competition challenges and policy gaps affecting efficiency and market outcomes. The Commission also issued a Competition Assessment Study of the fertiliser industry, identifying barriers to competition across production, distribution and retail segments in a sector critical to agricultural productivity.

    To strengthen inter-agency coordination, the CCP signed several memoranda of understanding during 2025. These included an MoU with the Federal Antimonopoly Service of the Russian Federation covering cooperation on cartel enforcement, merger control and competition policy research.

    At the national level, the CCP entered into MoUs with the Drug Regulatory Authority of Pakistan and the Punjab Food Authority to address deceptive marketing practices and improve monitoring of product claims.

    Continue Reading

  • Attorney General Dan Rayfield Joins National PSA Campaign to Encourage Reporting of Gift Card Fraud – Oregon Department of Justice

    1. Attorney General Dan Rayfield Joins National PSA Campaign to Encourage Reporting of Gift Card Fraud  Oregon Department of Justice
    2. OPP urges resident to remain vigilant after spike in gift card frauds over holidays  Brighton Today.ca
    3. North Wales Police issue warning on gift card scams  Deeside.com
    4. Consumer advocacy group warns of ‘gift card draining’ scam  WESH
    5. Tips to avoid being scammed when purchasing gift cards  Muddy River News

    Continue Reading

  • Donald Trump confirms US carried out strike on ‘dock area’ in Venezuela

    Donald Trump confirms US carried out strike on ‘dock area’ in Venezuela

    Unlock the White House Watch newsletter for free

    Donald Trump has said the US carried out an attack on a “dock area” in Venezuela, confirming that Washington…

    Continue Reading

  • IRS sets 2026 business standard mileage rate at 72.5 cents per mile, up 2.5 cents

    IR-2025-128, Dec. 29, 2025

    WASHINGTON — The Internal Revenue Service today announced that the optional standard mileage rate for business use of automobiles will increase by 2.5 cents in 2026, while the mileage rate for vehicles used for medical purposes will decrease by half a cent, reflecting updated cost data and annual inflation adjustments.

    Optional standard mileage rates are used to calculate the deductible costs of operating vehicles for business, charitable, and medical purposes. Additionally, the optional standard mileage rate may be used to calculate the deductible costs of operating vehicles for moving purposes for certain active-duty members of the Armed Forces, and now, under the One, Big, Beautiful Bill, certain members of the intelligence community.

    Beginning Jan. 1, 2026, the standard mileage rates for the use of a car, van, pickup or panel truck will be:

    • 72.5 cents per mile driven for business use, up 2.5 cents from 2025.
    • 20.5 cents per mile driven for medical purposes, down a half cent from 2025.
    • 20.5 cents per mile driven for moving purposes for certain active-duty members of the Armed Forces (and now certain members of the intelligence community), reduced by a half cent from last year.
    • 14 cents per mile driven in service of charitable organizations, equal to the rate in 2025.

    The rates apply to fully-electric and hybrid automobiles, as well as gasoline and diesel-powered vehicles.

    While the mileage rate for charitable use is set by statute, the mileage rate for business use is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes, meanwhile, is based on only the variable costs from the annual study.

    Under the law, taxpayers cannot claim a miscellaneous itemized deduction for unreimbursed employee travel expenses, except for certain educator expenses. However, deductions for expenses that are deductible in determining adjusted gross income remain allowable, such as for certain members of a reserve component of the Armed Forces, certain state and local government officials, certain performing artists, and eligible educators. Alternatively, eligible educators may claim an itemized deduction for certain unreimbursed employee travel expenses. In addition, only taxpayers who are members of the military on active duty or certain members of the intelligence community may claim a deduction for moving expenses incurred while relocating under orders to a permanent change of station.

    Use of the standard mileage rates is optional. Taxpayers may instead choose to calculate the actual costs of using their vehicle.

    Taxpayers using the standard mileage rate for a vehicle they own and use for business must choose to use the rate in the first year the automobile is available for business use. Then, in later years, they can choose to use the standard mileage rate or actual expenses.

    For a leased vehicle, taxpayers using the standard mileage rate must employ that method for the entire lease period, including renewals.

    Notice-2026-10 PDF contains the optional 2026 standard mileage rates, as well as the maximum automobile cost used to calculate mileage reimbursement allowances under a fixed-and variable rate plan. The notice also provides the maximum fair market value of employer-provided automobiles first made available to employees for personal use in 2026 for which employers may calculate mileage allowances using a cents-per-mile valuation rule or the fleet-average-valuation rule.

    Continue Reading

  • Researchers harness cancer resistance mutations to fight tumors-Xinhua

    JERUSALEM, Dec. 29 (Xinhua) — An international team of researchers has discovered a new method to fight cancers that no longer respond to treatment, using the very mutations that make tumors drug-resistant, Israel’s Weizmann Institute of…

    Continue Reading

  • Khamenei aide vows harsh response to any aggression after Trump warning

    Khamenei aide vows harsh response to any aggression after Trump warning

    Speaking to reporters alongside Israeli Prime Minister Benjamin Netanyahu in Florida, Trump said the United States will deal a heavy blow on Iran if it tries to recover from the US and Israeli strikes in June.

    “I’m hearing that Iran is trying to…

    Continue Reading

  • Variational Product States Achieve Superior Optimization On 50000-Variable Problems

    Variational Product States Achieve Superior Optimization On 50000-Variable Problems

    Combinatorial optimisation problems, which involve finding the best solution from a vast number of possibilities, pose a significant challenge for both classical and emerging quantum computers. Guillermo Preisser, Conor Mc Keever, and Michael…

    Continue Reading

  • Compliance in Action: How Time Tracking Software Helps With Rest Break Compliance | SPARK Blog

    Compliance in Action: How Time Tracking Software Helps With Rest Break Compliance | SPARK Blog



    Risk





    Spark Team



    Logistics coworkers smiling during lunch break on a dock ledge



    Staying compliant with federal, state and provincial meal and rest break laws is a growing challenge for employers. Employment law compliance requirements vary widely across jurisdictions, and rules change frequently. Businesses that rely on manual processes for tracking meal and rest break policies risk costly penalties and operational disruptions.

    A recent webcast, Compliance in Action: Compliance Strategies for Managing Fatigue, Meal and Rest Breaks, hosted by Paul Kramer, director of compliance, and Bryan Thumme, solution consultant at WorkForce Software, an ADP company, covered best practices for adhering to employment rest break rules and addressed some new laws set to go into effect in 2026. The following article is a brief recap of the expert strategies discussed in this session.

    What are the FLSA rules for meal and break requirements?

    The Fair Labor Standards Act (FLSA) sets the federal baseline for workplace break policies in the United States. While the FLSA leaves most break requirements to individual states, several jurisdictions in the U.S. and Canada have enacted complex meal and break laws. Here are a few key rules that employers should know:

    • If employers choose to provide short rest breaks (typically 5-20 minutes), these are considered compensable for work hours and must be included when calculating overtime.
    • In contrast, meal periods (usually 30 minutes or more) do not have to be paid and are not counted as work time, provided the employee is relieved of all duties during the meal period.
    • The FLSA requires that employers must provide nursing mothers with reasonable break times and private, concealed spaces to express breast milk for up to one year after childbirth.
    • Employers are not obligated to count unauthorized extensions of breaks as work time if rules are clearly communicated and enforced.

    Watch the full webinar below to discover even more best practices for navigating meal and rest break rules.

    Challenging and evolving meal and rest break regulations in key places

    While the FLSA leaves most break requirements to individual states and provinces, several jurisdictions have enacted new or uniquely challenging laws. These laws are often updated and can vary even within states or provinces, making compliance especially challenging for multijurisdictional employers. Here is an overview of significant rules from several U.S. and Canada locations:

    Illinois

    • Governed by the One Day Rest in Seven Act (ODRISA), in effect since January 2023.
    • Requires employers to provide at least 24 consecutive hours of rest in every seven-day period.
    • ODRISA has exceptions for part-time employees, emergencies, jobs covered by collective bargaining agreements (CBAs) and certain executive, administrative, professional (EAP) or outside sales positions as defined by the FLSA.
    • Employees must also receive a 20-minute meal period for every 7.5 hours worked, and those who work through meal periods must be paid.

    California

    • California has some of the most rigorous break laws. Employers are encouraged to carefully review these laws before setting company break policies.
    • Employers may not require an employee to work more than five hours per day without a 30-minute unpaid, off-duty meal break, with additional requirements for longer shifts and strict penalties (called premiums) for noncompliance (an extra hour of pay per missed meal break).
    • Employers must authorize and permit paid rest breaks for all nonexempt employees whose total daily work time is at least three and a half hours.
    • Employees must be provided with paid 10-minute rest breaks for every four hours worked, or a major fraction thereof.

    Washington

    • Employees are entitled to paid 10-minute, duty-free rest breaks every four hours and a 30-minute meal period for shifts exceeding five hours (to be taken between the second and fifth hour of work).
    • Employees must be provided with reasonable restroom breaks, and access to them cannot be unreasonably restricted.

    Colorado

    • Employees must receive an uninterrupted 30-minute meal period for shifts of more than five hours, with paid meal periods required if duties can’t be relinquished.
    • To the extent practical, meal periods must be at least 1 hour before the start of a shift and at least 1 hour after the end of a shift.
    • The state mandates paid 10-minute rest breaks per four hours worked, or a major fraction thereof.

    Minnesota

    • Minnesota will have new meal and break laws going into effect in January 2026.
    • Employers must provide at least 15-minute rest breaks (or longer if needed to use the restroom) every four hours of consecutive work.
    • Employers must provide a 30-minute meal break for shifts of six or more consecutive hours.
    • Failure to provide breaks may result in pay penalties and liquidated damages.

    Alberta

    • Hours of work and breaks are governed by the Alberta Employment Standards Code.
    • Employees are entitled to one 30-minute break after the first five hours of work for shifts between five and 10 hours, with a second break for shifts of 10 hours or longer.
    • For shifts of 10 hours or longer, employees are entitled to two 30-minute breaks.
    • Employees are generally entitled to at least one day of rest each workweek.

    Ontario

    • Rules are governed by the Ontario Employment Standards Act (ESA).
    • Employees must not work more than five consecutive hours without a 30-minute off-duty meal break.
    • Rest breaks are generally not required in Ontario. If a rest break is provided and the employee is free to leave the premises, the break does not have to be paid.

    How can time tracking software simplify meal and rest break compliance?

    The complex set of federal, state and provincial regulations can make manual tracking for rest breaks impractical. The risk of penalties for non-compliance is significant, especially for organizations operating in several regions. Modern time tracking solutions like ADP WorkForce Suite’s Time and Attendance are invaluable for employers who want to improve compliance standards and reduce workplace risks.

    How time and attendance solutions help

    • Automated scheduling and alerts: Dynamically tracking for shift lengths, issuing real-time reminders for required breaks and flagging potential violations before they occur
    • Accurate recordkeeping: Digital time tracking aids in maintaining precise records of work hours and breaks, simplifying audits and demonstrating compliance
    • Pay penalty automation: When break requirements aren’t met, the system can automatically apply required premiums, helping avoid costly wage-and-hour lawsuits
    • Proactive fatigue management: Intelligent systems enable managers to anticipate compliance risks, such as excessive consecutive workdays or missed breaks, and quickly reassign or schedule relief staff as needed
    • Transparency across teams: Automated solutions bridge gaps between managers and schedulers, helping everyone stay aware of break requirements and compliance status in real time

    Staying informed of the latest legal requirements and proactively tracking new meal and rest break rules is crucial for efficient operations. Investing in the right technology helps prevent costly violations and fosters a culture of trust, efficiency and compliance, ultimately positioning your organization for long-term success.

    WorkForce Software, an ADP company, provides updates throughout the year on best practices for meeting employment law requirements and strategies for addressing emerging regulations and trends across the United States and Canada. This article originally published on their blog,


    Continue Reading