Archives for September 2018

Money does not grow on trees, as the saying goes, and nothing cashes in banknotes faster than trading. For thousands of years, ports and city markets determined the way human life shaped in every corner of the world, creating value for goods and products. In today’s world, global markets are connected with one another through international networks and it has become possible to find and purchase all sorts of products in any part of the world. On a grander level, global trade has given birth to a new age of financial transactions, through the use of company shares, government bonds and stock market exchanges, cementing the fundamentals of the current global financial paradigm. Technologies such as stock trading apps and market watch software are also easily accessible for millions of interested parties, further helping grow trade networks and the associated financial markets. Time equates money these days and it is solely up to the individual to find applicable ideas and utilize the existent resources to cash in, much like in a game of poker, making focus and concentration integral subjects of concern.

Along with the election of Donald Trump as the 45th president of the US came chaos and uncertainty with the recent developments observed in Wall Street having alerted numerous authorities to seek explanations. According to the Fox News host Neil Cavuto, only one person should be seen as the sole proprietor of all responsibility: Donald Trump himself. Currently, the stock market is depicting a positive trend and people are indeed making money but it all comes with a moral cost. The president has recently come forth with his assertion that the stock market would collapse if he were impeached, creating a general sense of confusion in the markets. Cavuto believes that Donald Trump is using his authority to exert pressure on the free markets, the stock exchange included, leading to the birth of the biggest moral hazard ever known to investors in recent years. The president’s history is a dirty and suspicious one for sure and it has become a habit for him to silence people and push them around, according to the host, but more importantly, Trump loves to create illusions and disregard their consequences. As a result, Cavuto believes that the stock market’s short gains will be replaced by a long-term financial recession soon, if the president does not give up on his habit of interfering with its processes. The moral concern is that Trump’s words and actions are subjective and therefore manipulate investors, both small and large ones, and no regime can cease to exist forever on lies. As the administration will lose power in the years to come, such an immoral approach will surely leave scars in the American society and disaffect the performance of stock market trading for future players.   

In related news, the Trump administration’s trade war against China has given the president a significant political boost as “almost half of what China sells to the US is now subject to tariffs,” between 5% and 10% for products ranging from handbags to textiles. While the American public believes that such a policy will help domestic producers, on the Chinese side of things, several industries are facing consequences already. The Chinese steel industry is having a nightmare at the moment, as China used to supply steel products worth more than $200 billion to America, with most of such goods currently being recycled in various part of the country. Although Hebei Huayang Steel Pipe company’s sales manager Steven Yue is confident that the US will lose more than China in the long run, the short-run effects of such tariffs will surely push several middle and small sized investments out of the game. In addition, Yue points out that the American interests in China will surely be targeted by nationalist Chinese economic policies in the years to come, as a reasonable retaliation strategy, and the two countries will come head to head with one another under undesirable conditions. The Chinese businessmen are currently irritated by the fact that Donald Trump’s political discourse is one-sided and therefore destructive, referring to decades long investment projects contributing to the American GNP. Another major complaint is that the US has not acted according to WTO regulations, making up its own rules along the way, which can be considered as a violation of international law.

The Trump administration on the other hand is considering the issue as part of a large scale global economic war and is currently seeking to mend ties with countries neighboring China, such as South Korea. After signing a revised trade pact with the country, the American president spoke to the press and stated that it was “a great day” for America and South Korea, hinting that numerous other deals were in the works. The US is also demanding political support from South Korea regarding the de-nuclearization of its northern neighbor, hoping that the economic benefits the new trade pact brings will be used in support of American policies. The negotiations between the two countries began in 2012 but were abandoned after significant political opposition emerged in the US, leading the Trump administration to reconsider its involvement. The new pact will necessitate South Korea to keep up to 50,000 American cars exempt from local safety regulations and make customs more permeable for American pharmaceutical exports, while also improving its pricing policies for such products. In addition, South Korean trucks will be subjected to 25% US tariffs until the year 2041 and a portion of the country’s steel production will be exempted from the 25% tariff imposed by the American government on imported steel products. Currently, the two countries exchange $155 billion worth of goods and services and therefore both sides have significant interest in improving the currently failing economic conditions. While South Korea’s economic interests are undebatable, the US seems to be getting a significant political boost against its arch enemy, China, which the country will surely use against Chinese policies on international turf.

On a local scale, namely in Southeastern Asia, Taiwan’s position is improving as a potential trade and political partner for China. Although the two nations have been known to engage into political disputes in the past, Taiwan’s rise as an independent democracy has made it harder for China to imitate the country, turning the two parties into ‘frenemies’. Today, China is Taiwan’s top trade partner, with the relations between the two countries totaling $130 billion, as opposed to the feeble $8 billion in 1991. Chinese citizens frequently visit Taiwan for holidays and the tourism sector between the two countries is showing signs of further growth, following Taiwan’s legal gesture of increasing the number of visits allowed per year for Chinese citizens. Technological partnerships are also quite vast between China and Taiwan, with Taiwan investing more than $11 billion into key Chinese sectors, such as computers, satellites and automobiles. However, such close ties also mean mutual problems as the Taiwanese economy has been known to undergo crises in conjunction with such crises emerging in Chinese markets. Although political opposition still exists in the country against such a partnership, the Taiwanese public has been forced to accept the situation given China’s enormous population and market size. Naturally, American companies such as Apple have already taken advantage of the situation and invested into Chinese companies utilizing Taiwanese technologies. Foxcon and Pegatron, the two largest Chinese suppliers for Apple technologies, are growing at fast speeds on a daily basis while Acer is also continuously expanding its production line through new plants and factories in China.

In America, the effects of such an economic warfare have already begun to be felt by the consumers as experts predict that it will get progressively harder to protect popular products used by the American public from tariffs. The Trump administration is currently putting off intelligent discussion by claiming that consumers will not even feel any difference, given the high numbers of import products sold in American markets today. However, prices are rising daily and several key products such as washing machines are becoming unaffordable for millions of American homes. Since several other key products such as t-shirts and smartphones are not subjected to tariffs as of yet, the upcoming years will have the final say on the validity of these policies. The political discourse used by the president seems to focus on the notion that China has been taking advantage of the United States for a long period of time and it is time to stop the trend. In addition, several American politicians have echoed the misleading idea that such tariffs are only being imposed on companies with minimal impacts on consumers, which is a farce from the very beginning. As the markets develop higher prices for household products, every American home will face significant adverse effects that will reduce their purchasing power. As retaliations continue, the tariffs which began by targeting $50 billion worth of specific import products moved to include $200 billion worth of Chinese products such as food, tools, housewares and consumer electronics. The American public will surely feel the effects of such an ongoing economic war as early as this Christmas when market prices will be significantly higher than usual and crucial products such as clothing and electronics will be off the limits for the majority of holiday shoppers.

A car purchase is an important purchase and a lot of money can be saved when all the correct steps are followed. There are many steps and car shopping and purchasing can be a stressor due to the many options to weigh and large expense. Cars are a huge commitment and should be treated as one.

Make sure to be aware of all the options that come with purchasing a car, including novated leases, car trades, and secondhand cars.

Novated leasing is an effective option when financing the purchase of a new car because it allows for gradual payments. This can be a smart way to purchase a new car without dropping a ton of money at once.

Trading in a current car is also an option that can cut the cost or a car purchase. This also is an easy way to not have to go through the trouble of selling a car while also looking for a new one.

Choosing between an old car and a new car is a dilemma in every buyer’s mind. Many people believe that purchasing a new car is a waste of money, but there are pros and cons to both. When purchasing a new car, it obviously has never been used and has a whole life ahead of it. Used cars may have had issues in the past and come with the wear-and-tear of being used for years before. Costs can be vastly different when looking at used and new cars. According to Forbes, buying a used car is almost always the better deal.

This may seem like an obvious step, but there are a ton of cars out there. Choosing a car may seem overwhelming due to the sheer range of options available. Important things to initially consider are gas mileage and size. Looking at daily commute and travel needs is important before picking a car. For example, driving across the United States in a gas guzzling truck isn’t the most educated pick.

It also is crucial to consider price range when buying certain models of cars used or new. There might be a 2017 model of a car that is $20,000 less to buy used than new. This car could have only been driven for one year, so the used model is most likely a better option for the money. This is another reason pricing information is something to take the time to research in-depth.

As previously mentioned, pricing is important to look at regardless of budget. Nobody wants to lose a chunk of money when not necessary. Check the prices of car models for used and new versions to decide what is worth it dropping the money on.

The Huffington Post says that the last day of the month is the best day to buy a new car. Tips like these could be what saves buyers money and the possible post-purchase buyers remorse. The article also lists: March, June, September and December as the best months to purchase vehicles. There are many tips and tricks to make sure buyers get the best out of their purchase, so read up on the trends and statistics surrounding car purchases.

Recent reports show that too many car shoppers are neglecting to take a test drive before purchasing cars, according to Forbes.

There are a few things to keep in mind when test-driving a car for the first time. The first thing to check for is comfort. Pay attention to leg room, head room and overall space in the car. Make sure to check all the details of the dashboard controls. Take the vehicle on the highway and test how smoothly it accelerates. It is important to pay close attention because minor inconveniences could turn into major annoyances once the car has been purchased and used often.

Negotiation is something to consider whether the car is new or used. It is a standard practice and it is important to go into a purchase with knowledge and confidence. The best way to figure out a good price when researching a car is to go online and see what different dealerships are selling it for. It is of course important to be realistic and open to compromise when negotiating. Have a price in mind that is fair and aim to settle eventually at that price or lower.

Buying a car can be overwhelming, but it doesn’t have to be. It is crucial to stay calm, weigh the options and make an educated decision that both the buyer and seller are happy with.

When people speak of business these days, they refer to various different sectors and fields and even more different practices, however the motivation to profit and to win always remain as central to the cause. This is why laws and a functioning legal structure are necessary for a productive and constructive business world and also the reason why the relations between law and business remain central to any given modern social formation. Business law is one of the most important types of law in existence, as it defines and articulates the mentioned form and set of relations through legal authority and jurisdiction, while failure to comply to its statutes results in direct punishment. The political authority values its relationship with the domestic and foreign businesses highly to ensure that its financial income is stable and in healthy circulation, while the society itself benefits from such businesses through employment and social goods. A lawyer on active duty in this field of law is also a highly important person in such a society, ensuring that businesses and the government both operate within acceptable limits and that the society’s rights and privileges are protected in the process. Such a lawyer safeguards financial interests along with the security of its markets. Therefore, monitoring business relations needs to be in accordance with the legal realities and proceedings in the name of comprehending the underlying motives and dynamics of the true business life in a confined yet constituent framework.

Along with reality, there always exist myths and the business world is no different. When it comes to legality, due to lack of interest and information, such myths also begin to manipulate the public’s perception of law and how it governs modern day business. Lisa Honey for The Huffington Post reports on four such myths and the truths that beset them to provide an overall cognition of reality and truth. The author’s motivation is to provide insightful information for small business owners who have been known to get fooled by the illusions associated with the freedom of running their own operations in a market where the big fish instantly eats the small for pleasure and out of necessity. The first myth that she refers to is how most such business owners believe that their “personal assets are always 100% protected after you [they] incorporate” whereas the fact of the matter is that when personal and business funds are mixed together, IRS investigations and possible pursuing legal action become serious possibilities. Although such an act protects one’s personal assets through legal separation from business assets, this situation changes when the company goes bankrupt and the personal assets count towards compensation of losses. Honey then refers to the issue of intellectual property rights as some of the most important assets a business can possess, taking note of numerous businesses considering them to be trivial, which leads them to lose significant sums of money and vested interest in the long-run due to related legal complications. Copycats love to imitate and they will also steal ideas, products and services if they can, so the only way to stop this from happening is by acquiring the necessary IP rights, such as copyrights and licenses. Health insurance and the necessity to report it to the relevant authorities is the third myth that the author refers to, as many small business owners believe that they will get sued if they don’t provide health insurance to their employees. The truth of the matter is that the currently viable and imposed set of regulations known as ‘The Affordable Care Act’ outlines that only businesses with more than 50 employees are required to provide such a privilege to their employees, which means that many small businesses (90%) in America are exempt from such an obligation. As for the final myth, Honey refers to how various small business owners believe that it is necessary to consult a professional lawyer before making the simplest of decisions, increasing time and resource spent for their business operations significantly. The author states that a written contract can be dissolved in numerous ways such as through court hearings where the lacking legal documentation can be used to nullify the agreement. Therefore, attorneys and lawyers should always be seen as the last resort by such business owners for the sake of saving time, resource and money for trivial processes, with the main emphasis always remaining on self-capabilities and motivation to carry out their functions.        

Unfortunately, regardless of how strong and relevant business laws are, there is always the issue of discrimination involved in every business sector and it is a quite common struggle for regulatory authorities to address this issue through legal impositions. Richard Partington for The Guardian reports on an interesting finding, namely the correlation between failure to enforce the relevant laws and the discrimination that older workers experience at the workplace. The author begins his words by stating that the British authorities are currently failing to “save more than a million older workers from discrimination, bias and outdated employment practices” due to lack of adherence to the current discrimination law. In 2010, the Equality Act was legislated in the UK, which made it illegal for employers or other employees to show “prejudice against older workers, unconscious bias and causal ageism,” with the enforcement levels of the act still remaining at appalling levels. The UK already has a problem with “recruiting and retaining an experienced and skilled workforce” which means that as long as the mentioned form of discrimination exists at the British workplace, employees of ages 50 and above “will continue to be consigned to the ‘too old’ pile instead of being part of the solution.” In addition, Partington also takes notice of how in the very close future, the labor market in the UK will undergo dramatic change “as more people stay in employment for longer than before.” Statistically speaking, one third of the current British workers will be surpassing the age of 50 by 2020 and one quarter of the entire British population will grow older than 65 in the next two decades. Equally disturbing, according to the author’s research, is the finding that women are far worse affected by such discrimination against older workers than men because they also have to cut down on their shifts to make time for taking care of their loved ones. Given the capitalist nature and ambitions of the British society and the national pride of being the center of the capitalist West, it is understood that labor and employment are not issues to be ignored by the respective policy makers in the country. Additionally, the conservative mindset that has always secretly controlled the country and its society pays significant homage to the elderly through social services and other benefits, at levels non-comparable to other nations, which means that not showing the same kind and amount of respect for older employees is simply not acceptable. Combined with the extra knowhow and vision such employees bring into the labor force, ageism and related forms of discrimination are simply not accepted in the British society, which creates an eminent responsibility for its policy makers to take notice and action as soon as possible.

The new age of Big Data, with its multiple facets of digital marketing such as agencies like Webmetrix Group SEO, down to online interactions, are directly impacting businesses along with the laws that govern it. Rhiannon Cury for The Telegraph reports on how “law jobs jump 23% as companies seek data and financial crime experts” as the British government passed new laws for the regulation of online data. The 23% growth rate for this sector was higher than any other industry for the first quarter of 2018 and resulted out of the implementation of the new General Data Protection Regulation, which seeks to give internet users and users of other similar online networks more control over personal data. The companies operating through such systems are having a hard time understanding how the new rules of the game will affect their business and therefore they are constantly seeking to hire trustable and educated professionals. Customer information is gathered in large amounts through the new practices of business under the digital paradigm and the management of such information/data is a serious hassle for older generation workers who have no idea about the technologies of the new age. In addition to technical workers, such companies are also in desperate need for law professionals who can provide them with insights, warnings and advices about possible legal infringements associated with these practices. The challenge is especially true for smaller businesses which take pride in implementing technological solutions into their operations, namely over the internet, without necessarily realizing the amount and extent of responsibility such a strategy brings along. Larger companies are always provided with prior warnings by the industry or the government regarding possible issues to expect and confront, giving them enough time to utilize their resources in the most efficient way to deal with possible situations of concern. The smaller companies however do not enjoy such a privilege and are usually held responsible for the damages they have caused to the market after the damage is dealt and the regulations are imposed upon their actions. In such cases, most of these companies are completely wiped out from the markets and their assets are liquidated to be added to the public pool. Therefore, for startups and similar entities, taking legal advice and guidance before such incidents take place is a dire necessity and not an option as otherwise their organizations are subjected to significantly serious consequences, which might lead to their dissolution. Law and business in this context are virtually non-separable from one another as their mechanisms and functions operate for the exact same purpose: survival.