NEW DELHI: Tesla’s proposal for a reduction in import duty to enter India has been backed by several government agencies, including the road transport ministry, department for promotion of industry and internal trade and NITI Aayog, with a final call now to be taken by the finance ministry. The heavy industries ministry is the sole dissenter amid strong opposition from some of the largest auto industry players, government sources told TOI, arguing that the concessions could help in the medium-term. Officials indicated that there is discussion around the tariff cuts coming with certain conditions, which may include a mandated level of infrastructure creation in the form of charging stations or…
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Independence Holding Company Receives Preliminary
STAMFORD, Conn., Aug. 30, 2021 (GLOBE NEWSWIRE) — Independence Holding Company (NYSE:IHC) today announced that its Board of Directors received a preliminary, non-binding offer from Geneve Holdings, Inc., which through its wholly-owned subsidiaries (collectively, “Geneve”) hold an aggregate of approximately 62.5% of the issued and outstanding shares of common stock of the Company (the “Common Stock”), to acquire all of the outstanding shares of Common Stock that are not already beneficially owned by Geneve in a going-private transaction (the “Transaction”). Geneve’s proposed purchase price is $50 per share, payable in cash. The offer letter delivered by Geneve to the Board of Directors is publicly available in the Schedule 13D amendment…
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Treasury: Few small business owners will see tax hikes under Biden proposal
The Biden administration on Thursday said few small-business owners would see their taxes increase under the president’s proposal to raise the top income tax rate for high earners. The White House issued a fact sheet highlighting a new Treasury Department analysis that found that less than 3 percent of small-business owners would be affected by Biden’s proposal to increase the top federal income tax rate from 37 percent to 39.6 percent. The analysis focused on small businesses filing as S-corporations and partnerships and on certain parts of individual income tax returns. The administration also said that 3.9 million small-business owners would receive tax cuts under Biden’s proposals to extend the…
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Marina businesses object to advancement of waterfront homeless camping proposal
The idea that a waterfront parking lot home to Marina del Rey’s only public boat launch could be converted into a homeless camping or tiny home site, is causing a stir among the local business community. Critics of the proposal say that the parking lot is an inappropriate location due to its designation as a staging site and landing zone in the event of air or sea disaster; its proximity to heavy machinery and watercraft vessels; and the adjacent area’s economic dependence on visitors and tourism. CD-11 Councilman Mike Bonin, who identified the potential site, said that in the face of an “urgent and growing crisis” he will “leave no…
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Gadsden Airport Authority hears comments on rendering plant proposal
From elected officials to ordinary citizens, people spoke out Friday, letting the Gadsden Airport Authority know their will regarding the possible sale or lease of property at the airport for development. Many were the same opponents who’ve spoken publicly against one of those proposals — Pilgrim’s Pride’s plan to build a rendering plant — but not all. Lance Williamson said his home is directly across from the proposed rendering plant site, He said he bought part of what had been his parents’ property two years ago and prepared to build his dream home. About eight hours after pouring the footers for the house, he learned about the proposed rendering plant.…
