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Budget 2021: Rishi Sunak to inject £126m to boost traineeship scheme

Budget 2021: Rishi Sunak to inject £126m to boost traineeship scheme

Business
Getty ImagesChancellor Rishi Sunak is set to announce a £126m boost for traineeships in England in his Budget on Wednesday.The scheme will include a new "flexi-job" apprenticeship that will enable apprentices to work with a number of different employers in one sector.Unemployment is at its highest level in almost five years, with younger and typically lower-paid workers bearing the brunt of job losses.Mr Sunak said it was "vital" support continued to get people back into work.The chancellor's boost to existing apprenticeship and traineeship programmes will include playing up to double the current cash incentive to firms who take on an apprentice, regardless of age.It comes as a new government guarantee for low-deposit mortgages is announced as part of next week's measures. 'We'd just begun...
SpaceX plans to boost Starlink network with launch

SpaceX plans to boost Starlink network with launch

Business
ORLANDO, Fla., Feb. 14 (UPI) -- SpaceX plans to launch 60 more of its Starlink communications satellites from Florida on Sunday night as the company expands sales of the broadband internet service those satellites provide. Liftoff on a Falcon 9 rocket is scheduled for 11:20 p.m. EST, but the U.S. Space Force forecasts a 60% chance that storm clouds or a threat of lightning that could cause a postponement. Advertisement Elon Musk's Starlink operation has about 1,000 active satellites in orbit, and has implemented part of its planned network on Earth, while competitors for broadband service dependent on satellites in low-Earth orbit have yet to start sales. That includes London-based OneWeb, which has launched 110 satellites with a goal for 648 during its first phase. Also, Amazon founder ...

Government’s move to relax FDI limit for insurance a big boost for small insurers

Finance
MUMBAI: India’s move to further liberalize limits for insurance companies raising capital from foreign players will provide a major boost to dozens of insurers in the way of fresh fund-raising avenues while paving way for top global insurers to enter India’s highly underpenetrated insurance sector. After years of deliberation, the Indian government has increased the Foreign Direct Investment (FDI) limit in insurance companies to 74% against the current 49%, Finance Minister Nirmala Sitharaman announced on Monday in the Union Budget of 21-22 albeit some “safeguards”. Prominent industry CEOs and experts claim that the move will provide a fillip to an industry which has not lived up to expectations in providing coverage to a large chunk of the country's over 130 crore population over the la...

Biden’s stimulus proposal would boost these tax credits for families

Finance
US President-elect Joe Biden speaks at The Queen theater in Wilmington, Delaware on January 7, 2021, to announce key nominees for the Justice Department.Jim Watson | AFP | Getty ImagesPresident-elect Joe Biden's stimulus proposal includes a bevy of tax credits aimed at stabilizing the finances for American families.Biden's pandemic aid plan, which he unveiled Thursday night, calls for an expansion of key tax credits families currently receive to help contend with the cost of raising children.Those proposals are significant for low-income families, which have suffered the most amid the pandemic as the hospitality and retail industries have shed jobs over the course of 2020."In the world of people who care about low-income children, this is really big news," said Elaine Maag, principal resea...
UN climate chief: pledges by big polluters boost Paris hopes

UN climate chief: pledges by big polluters boost Paris hopes

Technology
The U.N.’s top climate chief says deadlines set by some of the world’s top polluters to end greenhouse gas emissions have boosted hopes of meeting the Paris accord's ambitious goalsBy FRANK JORDANS Associated PressNovember 19, 2020, 9:51 AM• 4 min readShare to FacebookShare to TwitterEmail this articleBERLIN -- The U.N.’s climate chief says deadlines set by some of the world's top polluters to end greenhouse gas emissions, along with president-elect Joe Biden's pledge to take the United States back into the Paris accord, have boosted hopes of meeting the pact's ambitious goals.The agreement signed in the French capital five years ago aims to keep global warming well below 2 degrees Celsius (3.6 Fahrenheit) — ideally no more than 1.5 C (2.7 Fahrenheit) — compared to pre-industrial times by ...