business and finance

Your business could defer taxes and get credits for keeping employees. An expert explains how to know if you're eligible.

Two tax provisions of the $2 trillion stimulus package could put cash back into small business owners' pockets almost immediately. Most businesses will be eligible to defer payroll taxes and receive tax credits for keeping employees.However, businesses may not be eligible for tax relief if they receive a forgiveable loan through the Paycheck Protection Program.To understand how business owners can take advantage of these programs Business Insider reviewed IRS guidelines and spoke with a small business advisor at Wiss & Co. accounting firm. Click here for more BI Prime content.Businesses that have been forced to close, limit operations, and lay off employees during the coronavirus pandemic have several lifelines available to them, two of which are tax-related and could put cash back in their




business and finance

10 major companies including Amazon, Facebook, and Salesforce that are offering cash and resources to businesses impacted by the pandemic - and how to apply

More than half of small businesses in the US have temporarily closed their doors, or plan to this month, due to the COVID-19 pandemic.Private organizations, including Amazon and Facebook, are teaming up to offer millions in cash grants and low-interest loans to small business owners.Amazon created a $5 million relief fund to support local businesses around its Seattle and Washington offices. Hello Alice is giving $10,000 emergency cash grants to distressed businesses in the US.Click here for more BI Prime stories.Organizations across the country are rallying together to support small businesses fighting to survive the COVID-19 quarantine shutdown.One in four small businesses nationwide have temporarily closed and another 40% expect to this month, according to a recent survey from MetLife and




business and finance

I'm saving money on rideshares and travel right now, but I'm not keeping that cash - I'm spending it at local businesses even if they're closed

Getty ImagesThe author is not pictured.I've had a little extra cash in my pocket since quarantine started - I'm saving money on rideshares, restaurants, travel, and more.Instead of keeping that money, though, I'm spending it on businesses I hope will stay open post-COVID. I've bought art, paid for online classes at a local gym, and pre-paid for an appointment with my hair stylist.I've decided not to save the extra money because my emergency fund is in good shape.Read more personal finance coverage.As the economy grinds to a halt in the wake of the coronavirus, I've found myself in the strange position of having a little extra cash on hand that I'm not accustomed to. For a little bit of context: I'm a freelance writer who's worked from home since 2015, and my industry has yet to be heavily




business and finance

Why independent restaurant owners are fighting third-party delivery platforms like Grubhub and Uber Eats

Mark Lennihan/AP ImagesThird-party delivery services are often seen by restaurant owners as a necessary evil.Third-party delivery platforms like Grubhub and Doordash claim to be helping restaurants through the pandemic, but restaurant owners say they're doing the opposite.Most delivery platforms charge restaurants a roughly 30% commission on every order, and restaurant owners say platforms have been slow to offer support and even pay what they owe.On Monday, Doordash announced it would slash fees by 50% through the end of May, but Grubhub is fighting a similar order in San Francisco.Business Insider spoke to restaurant data and marketing entrepreneur Abhinav Kapur, who said, "If there was ever a time to prove that you were a partner to the industry, now it would be the time to do it."Visit




business and finance

Crisis managers are taking center stage during the pandemic - and can make a lucrative living. Here's how to break into the in-demand role, according to 5 veterans in the industry.

The Bureau of Labor Statistics says that the median salary for an emergency management director is around $83,000 per year.Business Insider interviewed five crisis management teachers and consultants who all stressed that strong communication and critical-thinking skills are key attributes of people who work in the industry.Roles vary across in-house and consultancy firms, and between government and corporate, but the skill sets required are largely the same.Read the news, practice thinking of solutions to big problems, and start looking for roles and internships in house.Click here for more BI Prime stories.Whether it's for a large-scale disaster such as the COVID-19 pandemic or more routine problems such as fires, cyber-security breaches, financial losses, or product recalls, crisis managers




business and finance

Federal relief loans for small businesses just dried up. Here's what to do if you need $1 million dollars or more to stay afloat

Getty ImagesAll of the PPP loan funds have been committed, but new Fed-backed loans could help some businesses come back after the crisis.Less than two weeks after launch, all of the $349 billion allocated to small businesses in the CARES Act has been committed.Lending could now come to a grinding halt as banks won't have the guarantee of the US Treasury to back up more loans.Business owners who still need financing greater than $1 million can take advantage of the Federal Reserve's Main Street Lending program, which will support additional loans from banks.The Fed's program backs four-year loans with payments and interest deferred for the first year.Visit BI Prime for more stories.Just 12 days after the launch of the Payroll Protection Program, all $350 billion in loans have been approved,




business and finance

How a data storage startup reached unicorn status by closing a new $100 million funding round during the coronavirus pandemic

GoogleSolutions like those from VAST Data can make AI adoption easier.Accessing stored data is a major problem that companies face in the quest to adopt artificial intelligence and other advanced analytical tools. VAST Data's all-flash storage solution makes it easier for corporations to quickly and continuously analyze large sets of information. The startup just raised $100 million, bringing its total valuation to $1.2 billion. This is on top of a recent $80 million funding round, of which $40 million still remains. "We did this to offer the peace of mind that we're here to stay forever," CEO Renen Hallak told Business Insider.Click here for more BI Prime stories.Artificial intelligence continues to be a major investment for companies, but enterprises are, in many cases, finding it exceedingly




business and finance

How a German drone taxi startup used crowdsourced ideas, an unexpected partner, and its outsider status to carve out a new multi-trillion-dollar opportunity in the transportation industry

When Florian Reuter joined German drone taxi startup Volocopter in 2015 as CEO, co-founders Stephan Wolf and Alexander Zosel had impressive tech, but no clear path to market."When we started out there was not even an idea of how these types of vehicles would ever be certified," Reuter told Business Insider. "Now we have a whole new category created for us."Volocopter now has equity funding of €122 million and the company continues to add corporate strategic partners to a list that includes Daimler, Intel, and Micron.Now, the team is focused on completing its certification with the European aviation authority to become the first commercial air taxi company.This article is part of a series on growing a small business, called "From 1 to 100."If disruption is the path to a billion-dollar startup,




business and finance

We're a couple who was furloughed from our jobs, so we're using the time in self-isolation to turn our passion project into a viable business - here's how we're making it happen

Anastasia Bendebury and Michael Shilo DeLay are the creators of Demystifying Science, a science literacy organization which clarifies confusing science.They were both furloughed from their full-time jobs amid the coronavirus pandemic, which led them to pour more time into their newly launched organization.To get through this tough period, they're cutting back where they can and reaching out to as many people as possible who might need their work.Separating business from couple life is key when kickstarting a project together, and ultimately taking the plunge to do it.Click here for more BI Prime stories.In early March when Italy issued its stay-at-home order, we were still at work. Michael was teaching high school physics, and Nastia was guiding science and wine tours in the Pacific Northwest.




business and finance

Billionaire Mark Cuban told us his plan to save America's entrepreneurs now that the federal relief fund has run dry - and the biggest disasters the government must fix immediately

In less than 13 days, all $349 billion allocated for small business relief under the CARES Act were used up.But the funds barely scratch the surface of the 60 million employers and freelancers who were expected to apply.Mark Cuban told Business Insider that major changes need to be implemented to address the problems with the most recent package.Before the next round of funding, Cuban says businesses will need enough money to cover an extended re-opening period as well as an effective testing strategy that instills confidence in returning workers. Visit BI Prime for more stories.Following a rocky rollout of the Payroll Protection loan program, all $349 billion of the funds allocated for small businesses in the $2 trillion CARES Act have been committed - and Mark Cuban says it's too late to




business and finance

Zomato Targets Push Into Alcohol Deliveries

Zomato has already diversified into grocery deliveries as the restrictions on movement shuttered some restaurants and people hesitated to order outside food due to fears of catching the disease.




business and finance

SBI Cuts Benchmark Lending Rate By 0.15%, Loans Likely To Get Cheaper

SBI also introduced special deposit scheme for senior citizens with higher interest rate.




business and finance

Vista Equity Partners Invests Rs 11,367 Cr In Reliance's Jio Platforms, Picks Up 2.32 % Equity Stake

Vista's investment will translate into a 2.32 per cent equity stake in Jio Platforms on a fully diluted basis, making Vista the largest investor in Jio Platforms behind Reliance Industries and Facebook




business and finance

Moody's Slashes India's FY21 GDP Growth to 0%, Says Risk of Slower Economic Growth Rising

Moody's projected India's economic growth for 2020-21 fiscal at 0 per cent, lower than 4.8 per cent estimated in 2019-20.




business and finance

Can ‘ABC’ Rejuvenate Indian Industry?

ABC is ‘Anything But China’! Yes, you heard it right. Anything But China. ABC.




business and finance

Center Should Provide Autonomy To States To Determine Norms At Local Level Instead Of Nationwide Common Directions: Rajasthan CM Ashok Gehlot

BW Businessworld’ s Manish Kumar Jha speaks with the Chief Minister of Rajasthan, Ashok Gehlot on such critical issues.




business and finance

Trump says he turned out the way that he did because he 'couldn't do any wrong' in his mother's eyes

Donald Trump paid tribute to his parents, Mary MacLeod Trump and Fred Trump, in an interview with "Fox & Friends" ahead of Mother's Day on May 10."She was so good to me. I couldn't do any wrong, which is a big problem," said Trump, while reflecting on how his mother had shaped him into the person he is today.The president added that he would be spending Mother's Day with his wife Melania at Camp David in Maryland.Visit Business Insider's homepage for more stories.Trump reflected on how his mother shaped the person he is today in a new interview, saying he "couldn't do any wrong, which is a big problem," the AP reports.In an interview with "Fox & Friends" ahead of Mother's Day on May 10, Trump paid tribute to his mother Mary MacLeod Trump, who died in 2000, aged 88."She was so good to me. I




business and finance

Accused of being coronavirus carrier, man thrashed in UP's Aligarh; six booked

Aligarh, May 9 () A 25-year-old man was thrashed and left unconscious with serious injuries on suspicious of being a 'coronavirus carrier' in Uttar Pradesh's Aligarh. The incident took place on Friday evening outside a chemist shop in the Shivpuri locality of Aligarh. Police have booked six people in this regard. Abdul Samad fell unconscious after the accused attacked him, alleging that he was a 'coronavirus carrier', police said on Saturday. He was rushed to Malkhan Singh District Hospital by members of his family who arrived at the spot after people raised an alarm. According to the victim's father Laiqur Rehman, Samad was feeling dizzy after his Ramzan fast on Friday night. He had gone to a chemist shop in the neighbourhood to purchase some medicine where he was accosted by some people,




business and finance

4 states' daily coronavirus case numbers show they're probably reopening too soon




business and finance

As dating apps try to pivot to virtual events, some users are trying to get people violate social distancing rules

Dating apps like Tinder, Bumble, and Hinge have reported increased use amid the coronavirus pandemic, while touting virtual dating alternatives for users instead of meeting up in person.Swaths of users are still encouraging matches to break quarantine to have sex and go on dates, despite social distancing guidelines and fines to comply with them.An illustrator on Instagram has been collecting screenshots of these situations, and told Business Insider that users will brand themselves as "badasses," dispute the effectiveness of isolating, and lash out in anger and hurl abusive language when they're rejected.Spokespeople for Grindr, Tinder and Bumble told Business Insider they've informed users to adhere to social-distancing guidelines, but did not respond to inquiries about actions they're taking




business and finance

224 new COVID-19 cases recorded in Delhi, total tally 6,542

New Delhi, May 9 () With 224 new instances of the novel coronavirus infection, the total number of cases reported in the national capital climbed to 6,542, the Delhi government said on Saturday.The fresh cases were reported between 4 pm to midnight of May 8.No fresh death due to the virus was reported in this period. Delhi has so far reported 68 deaths.Of the total cases reported in the city, 4,454 are active while 2,020 patients have been cured of the disease, the health bulletin stated. SLB NSDNSD




business and finance

62-yr-old man becomes second COVID-19 fatality in UP's Gautam Buddh Nagar

(Eds: Adds daily COVID stats, other info) Noida (UP), May 9 () A 62-year-old man died due to coronavirus in Noida, becoming the second COVID-19 fatality in Uttar Pradesh's Gautam Buddh Nagar district, officials said on Saturday. The man, a resident of sector 66, died on Friday but the report of his COVID test came out as positive on Saturday, they said. "He expired yesterday (Friday) evening. The cause of the death was cardio-respiratory failure," District Surveillance Officer Sunil Dohare said in a statement.Another person who tested positive for COVID-19 on Saturday is a 52-year-old man residing in sector 45's Khajoor Colony, the officer said."Total 100 reports have been received in the last 24 hours of which two were positive and the rest negative for COVID-19. The cumulative positive cases




business and finance

Testing capacity for COVID-19 scaled up to 95,000 per day: Vardhan

New Delhi, May 9 () The testing capacity for COVID-19 has been scaled up to around 95,000 tests per day and a total of 15,25,631 tests have been conducted so far across 332 government and 121 private laboratories, Union Health Minister Harsh Vardhan said on Saturday. The minister, who reviewed the status of COVID-19 in the northeastern states along with the measures taken for its containment and management, also stressed on the need to take concrete action to check the use of non-smoking tobacco and prohibiting spitting in public places which shall help in preventing the spread of the infection, according to a statement. During the high-level meeting with Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Tripura and Sikkim, Vardhan appreciated the dedication of all the states




business and finance

Dock workers in Belgium are wearing monitoring bracelets that enforce social distancing — here's how they work




business and finance

All the coolest features of every Tesla vehicle ever made or unveiled, ranked




business and finance

PTI tally of COVID-19 cases and deaths in India at 6:45pm

New Delhi May 9 () Following is a state-wise tally of the number of COVID-19 cases and deaths in India at 6:45pm as per information provided by respective governments.State/UTConfirmed Discharged Deaths------------------------------------------------------------Andaman & Nicobar33330 ------------------------------------------------------------Andhra Pradesh193088744 ------------------------------------------------------------Arunachal Pradesh110 ------------------------------------------------------------Assam59341 ------------------------------------------------------------Bihar5852625 ------------------------------------------------------------Chandigarh146211 ------------------------------------------------------------Chhattisgarh59380 ------------------------------------------------------------Delhi6542202068




business and finance

Astronomers just stitched together an unprecedented portrait of Jupiter in infrared — and realized its Great Red Spot is full of holes

New images of Jupiter reveal that its Great Red Spot has holes.The infrared portrait of the planet also shows that lightning bolts form alongside 40-mile-high towers of turbulent clouds.Astronomers used NASA's Hubble Space Telescope, the Juno spacecraft that orbits Jupiter, and the Gemini Observatory on Earth to gather some of the sharpest-ever infrared images of the planet.Visit Business Insider's homepage for more stories.New snapshots of Jupiter reveal its turbulent weather in infrared — the spectrum of light just beyond visible wavelengths.To get these unprecedentedly sharp images, a team of researchers from NASA and the University of California, Berkeley combined data from the Hubble Space Telescope, the Juno probe that orbits Jupiter, and the Gemini Observatory on Earth. The team released




business and finance

The US coronavirus response has finally shattered the myth of American exceptionalism

75647674Nations around the world have scrambled to respond to the coronavirus pandemic. But the rapid pace at which the crisis has overtaken health systems in the US and the UK has exposed, and perhaps accelerated, the withering health of these democracies.Now, with a president who has touted sunlight and bleach as cures, the US may well resemble the same "outlier" countries it has long believed itself to be above. "We are the outlier," a career epidemiologist tells Insider.Visit Business Insider's homepage for more stories.Just a few weeks ago, when borders were closing and the US government had begun to summon its citizens home from abroad, I messaged an American friend in Tokyo to see if he was planning to return. Things were still relatively calm in Japan, he reported. The situation appeared




business and finance

Entrepreneurs in rural belts switch to making face masks amid COVID-19 crisis

Kolkata, May 9 () A number of entrepreneurs basedin rural areas of the country have taken to manufacturing facemasks amid dwindling demand for their regular produce in thewake of the coronavirus pandemic, an official said onSaturday.Around, 500 rural entrepreneurs have so far producedand sold 3.5 lakh such masks under the Start-up VillageEntrepreneurship Programme (SVEP), he said.They produce around 2,500 masks per day for healthprofessionals, policemen, media personnel and cleaning staff,the official said.In West Bengal, 38 entrepreneurs manufacture nearly600 masks a day in blocks of Dinhata, Pathar Pratima andManikchak in different districts of the state.The entrepreneurs, trained under SVEP -- under theNational Rural Livelihood Mission (NRLM) -- have sold 49,000masks in the state till date,




business and finance

Two fresh COVID-19 cases in Kerala, total goes up to 505

Thiruvananthapuram, May 9 () Two fresh cases ofCOVID-19 were reported from Kerala on Saturday, both beingforeign returnees who reached the state from Dubai and AbuDhabi on May 7 and were among the expatriates airlifted by theCentre as part of its mission to bring back stranded Indiansabroad. Chief Minister Pinarayi Vijayan said with the twonew patients, the total number of cases in the state has goneup to 505 and there are currently 17 under treatment. "One patient from Idukki, who was under treatment,has been cured today.The two new cases are now under treatmentin Kochi and Kozhikode. They reached the state on May 7 in the Abu Dhabi-Kochi andDubai-Kozhikode flights, respectively," Vijayan toldreporters. "There are 23,930 people under observation in thestate out of which 334 are in isolation




business and finance

COVID-19 challenges: TN forms panel under ex-RBI Guv Rangarajan to improve fiscal position

Chennai, May 9 () The Tamil Nadu government onSaturday set up a high-level committee headed by formerReserve Bank of India governor C Rangarajan to examine fiscalchallenges facing the state owing to the COVID-19 pandemic andsuggest the way forward to improve its fiscal position. The committee, which will also consist of FinanceSecretary S Krishnan as coordinator, will submit its report tothe government within three months, according to a GovernmentOrder. The committee, with 21 members, would assess theoverall immediate and medium term impact of the COVID-19pandemic on different sectors of the state's economy includingthe impact of lockdown, additional costs and implications dueto social distancing and their precautionary measures. Also, it would assess the opportunities and threatsin the




business and finance

COVID-19: MGNREGA activities resume across Jammu

Jammu, May 9 () Activities under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) resumed in Jammu division on Saturday after an almost two-month suspension owing to the coronavirus-forced lockdown, officials said.The decision to resume works under MGNREGA was taken following a Home Affairs order allowing select additional activities in rural areas outside containment zones to mitigate the economic hardships being faced by people due to curbs, a spokesperson said.Work has resumed on 5,800 projects in all the 10 districts of Jammu division."More than 25,000 job card holders have been engaged in these works. The director of Rural Development Department RDD has instructed the officers concerned to complete all works under MGNREGA, while ensuring that guidelines for curbing




business and finance

Chhattisgarh: 5 discharged, active COVID-19 cases now 16

Raipur, May 9 () Five people were discharged fromthe All India Institute of Medical Sciences (AIIMS) in Raipurin Chhattisgarh on Saturday after recovering from the novelcoronavirus infection, health officials said.Those discharged include two women and a five-year-oldboy, an official informed.So far 43 people have been discharged while the numberof active cases in the state is 16, he added."Two women and a boy from Kabirdham, two men from Durgand Surajpur were discharged after two consecutive tests werenegative for the infection. They will be kept in a quarantinecentre as a precaution before they are allowed to go home," apublic relations officer of AIIMS Raipur told .Chhattisgarh COVID-19 figures are as follows: Positivecases 59; New cases nil; Deaths nil; Discharged 43; Activecases 16; People




business and finance

Daughter of MP cop who died of COVID-19 appointed PSI

Bhopal, May 9 () The 23-year-old daughter of apoliceman who died of the novel coronavirus infection lastmonth in Madhya Pradesh has been appointed as sub-inspector inthe force by the state government, said an official onSaturday.The 59-year-old policeman, in charge of Neelgangapolice station in Ujjain district, died in an Indore hospitalon April 21 after getting infected while performing his dutyin a containment area, the official said."Minister for Home and Health Narottam Mishra spoke tothe 23-year-old woman on Saturday over phone and told herabout the appointment as PSI as announced by Chief MinisterShivraj Singh Chouhan. She is likely to join duty next week,"a state public relations department official said. ADU MASBNM BNM




business and finance

State varsities to implement academic calendar within month after lockdown is lifted: Bengal edu minister

Kolkata, May 9 () All the state universities inWest Bengal will implement the academic calendar in theirrespective institutions within a month after the lockdown islifted, Education Minister Partha Chatterjee said on Saturday.Chatterjee, who earlier in the day held avideoconference with vice-chancellors of all the stateuniversities, told reporters at an online press conferencethat the VCs have decided on how to conduct the classes andthe final semester examinations."The academic calendar, including examinations, willbe put into effect within a month after the lockdown islifted," he said.Chatterjee said the institutions have also receivedthe University Grants Commission (UGC) guidelines in thisregard and the issue came up in the meeting held during theday.He had earlier said that the UGC guidelines




business and finance

Mizoram becomes coronavirus-free with recovery of lone patient

Aizawl, May 9 () Mizoram became coronavirus-free with the discharge of the lone COVID-19 patient from a hospital on Saturday, officials said. It now shares a similar status with four other northeastern states -- Manipur, Sikkim, Nagaland and Arunachal Pradesh.Mizoram Health Minister Dr R Lalthangliana said the state's lone COVID-19 patient, a pastor, was discharged from Zoram Medical College (ZMC) on Saturday afternoon after 45 days of intense treatment.He was discharged from the hospital after four consecutive tests turned negative, the minister said.The pastor, who is in his early 50s and working under the Baptist Church of Mizoram, returned to the state from Amsterdam on March 16. He was pursuing higher study in theology in the Netherlands capital.He tested positive for novel coronavirus




business and finance

What should you do with a pension pot of £30k, £50k or £100k?

Pension freedom reforms will give people more decision-making power over their retirement savings. But as ever, the more you have, the more freedom you will enjoy.




business and finance

Deal or no deal? How to decide when to take 'with profits' payout

With-profits policyholders often face an impossible choice about when to take their benefits. Turn down today's offer and tomorrow's may be lower. How can you decide when it's time to leave?




business and finance

Are you ready to embrace income drawdown after pension freedom?

Instead of being stuck with stingy annuities, retirees now have the freedom to dip into their pensions using income drawdown.




business and finance

How does pension recycling work - is this a good tax trick?

'Pension recycling' allows people to boost their retirement pot by generating extra tax relief - but anyone tempted risks a financial penalty if they overstep the rules.




business and finance

The best ways to take your retirement income 

Retirees can now find more flexible income from drawdown, multi-asset funds and so called 'third- way' products that combine annuities and exposure to the stock market.




business and finance

COMPLETE GUIDE TO PENSION FREEDOM: order your free must-read 28-page booklet

Our pensions are changing - radically. Some say for better, others for worse. We say, make yourself as best informed as you can be with a copy of this super free guide.




business and finance

What you need to know about picking and paying for a funeral

Death is unavoidable – but the way we are laid to rest is still largely in our control. We examine the key decisions you need to make on a funeral.




business and finance

Make sure your last wishes are clear, from a will, to power of attorney and probate 

Many people put off thinking about their mortality. But there is vital paperwork to sort out before your time comes to an end.




business and finance

What pension deadlines must you meet as you pass ages 55, 65 and 75?

Pension age deadlines are more fluid as older people have gained greater control over retirement dates and finances - but some birthdays are still markers for decisions and action.




business and finance

How to invest your pension in drawdown

Pension freedoms mean retirees can now invest their savings how they like rather than buy a stingy annuity. But what do you need to consider and plan ahead for when funding retirement this way?




business and finance

Cancer and your finances: Benefits you may be entitled to

Grappling with the benefits monster can be daunting, particularly for those struggling with common side effects such as nausea, fatigue and chemo brain so here's everything you need to know.




business and finance

Beat the annuity traps that could rob you of thousands

By the  time you retire you should really have mapped out how you’ll get an income that’ll last as long as you’ll need. Ideally, that means sitting down with a financial adviser.




business and finance

How do you invest in retirement?

Elderly investors have to balance the need to make withdrawals yet keep a pot as intact as possible - whether to avoid running out of money or bequeath a pension to loved ones.




business and finance

Spend your pension pot last to defend savings from taxman

Hoard your pension and spend other cash and investments first, to keep your money away from the taxman. That's the advice experts are dishing out to retirees worried about inheritance tax.