Category: 3. Business

Canon honored for Excellent Production Support at TSMC 2025 Excellent Performance Awards

TOKYO, December 24, 2025—Canon Inc. announced today that it received a 2025 Excellent Performance Award from Taiwan Semiconductor Manufacturing Co., Ltd. (TSMC). the world’s leading semiconductor foundry. This award recognizes companies that have made significant contributions to the company’s success and the advancement of the semiconductor industry.

Canon was presented with the award for Excellent Production Support, a category within the 2025 Excellent Performance Award. Canon’s evaluation was based on its efforts to improve TSMC’s production capacity through timely equipment supply, high-quality service support and the development of new functions to meet customer requests. This is the third time Canon has received this prestigious award.

Encouraged by this award, Canon will continue to advance its semiconductor lithography technology and strengthen its support services to help drive innovation in the semiconductor industry and contribute to society.

Tuesday on Alaska News Nightly

State lawmakers weigh in on next month’s legislative session. We discuss what to expect. Plus, Fairbanks residents can expect a White Christmas, followed by some very intense cold. And, Juneau residents hit the slopes this week to celebrate the solstice.

Reports tonight from:

Eric Stone, Jamie Diep and Alix Soliman in Juneau,
Desiree Hagen in Kotzebue,
Tim Ellis in Delta Junction,
Sofia Stuart-Rasi in Unalaska.

This episode of Alaska News Nightly is hosted by Wesley Early with audio engineering from Crystal Hyde and producing by Madilyn Rose.

Summary

This technical note presents the Reverse Method, a novel indirect approach for estimating the global value-added tax (VAT) compliance gap. The Reverse Method leverages public datasets and a calibrated econometric model to produce scalable, comparable, and indicative VAT gap estimates for over 100 countries and multiple years. It builds on the IMF’s RA-GAP (Revenue Administration Gap Analysis Program) framework, using C-efficiency, tax expenditure data, and national accounts to approximate the compliance gap as a residual. The methodology enables broad cross-country analysis, supports tax gap benchmarking, and provides indicative estimates even where detailed data is scarce. While not a substitute for country-specific RA-GAP assessments, the Reverse Method offers a practical tool for monitoring global VAT compliance trends, informing tax gap analysis, and facilitating international comparisons. Its results highlight differences by income level and region, and the approach is designed for continuous improvement as more data becomes available.

Subject: Revenue administration, Revenue Administration Gap Analysis Program (RA-GAP), Revenue performance assessment, Tax efficiency, Tax gap, Taxes, Value added tax

Keywords: Asia and Pacific, Central Asia, Europe, Middle East, Middle East and Central Asia, Revenue Administration Gap Analysis Program (RA-GAP), Tax efficiency, Tax gap, Value-added tax, Western Hemisphere

An economic impact analysis estimates that Nebraska will face nearly $3.3 billion in annual economic losses due to the closure of the Tyson Foods beef processing plant in Lexington.

The analysis, released Monday by the University of Nebraska-Lincoln’s Center for Agricultural Profitability, was completed using a statistical model that takes into account both direct impacts, like job losses and tax revenue decreases, and second-order impacts like potential job losses in related sectors and decreased spending within a community.

It found that the closure will result in about $530 million in lost income – both from the 3,200 Tyson workers who will be laid off when the plant closes in January, and from thousands of jobs in related sectors. Some job losses in other sectors have already been seen: Fortrex, a sanitation contractor for Tyson, announced shortly after Tyson’s announcement that it would lay off 139 workers.

Both state and local tax revenues are likely to take a big hit, according to the report. State annual losses are estimated at $23.2 million for income tax and $10.1 million in sales tax. Local sales tax revenue in Dawson County is expected to fall by $2.7 million annually.

While the economic impacts will be felt statewide, the report said, they will be concentrated in Dawson County and surrounding areas.

To complete the analysis, researchers estimated that about 85% of the cattle slaughtered at the Tyson plant came from Nebraska feedlots. They also estimated that the average employee spent about 35% of their income on goods and services subject to state sales tax.

The closure comes amid significant economic issues in the cattle industry. In 2025, the U.S. recorded its smallest beef cattle herd in more than 70 years, and meatpackers are losing money as they operate well below capacity. Tyson is the first of the “big four” meatpackers – Cargill, National Foods, JBS and Tyson – to close a major facility during the current supply crunch.

Seokmoon Ryoo, Senior Vice President and Head of Software Platform Division at Hyundai AutoEver, has been appointed as CEO of the software focused Hyundai affiliate, effective January 1st, 2026. This move aligns with the Group’s strategy of enhancing its technological and quality driven edge in software development.

Ryoo joined Hyundai AutoEver in 2024 after serving as CTO at SOCAR, Korea’s mobility innovation platform. During his tenure at Hyundai AutoEver, he led the development of IT systems, software platforms, and vehicle software innovation initiatives.

Under his leadership, Hyundai AutoEver fostered a culture of innovation and talent cultivation in software development. As CEO, Ryoo’s mandate includes strengthening technological and quality excellence while driving greater synergies in Group-wide software innovation.

These leadership changes solidify Hyundai Motor Group’s commitment to technology-driven management and its transition into a software-defined mobility group. The Group continues to make strategic investments to ensure long-term technological competitiveness and sustain its innovation momentum.