This marks the Series A round of funding for Helicap.

The post Japan’s Saison Capital leads $10m funding in SG-based fintech startup Helicap appeared first on DealStreetAsia.

Proceeds will be used to buy agri-commodities from farmers in Vietnam, Indonesia, Timor-Leste, Papua New Guinea and Uganda.

The post Olam secures $176m loan from IFC, JICA appeared first on DealStreetAsia.

The funding will be used by the company to expand its production capacity.

The post SG’s biodegradable plastic maker RWDC raises $133m in Series B round appeared first on DealStreetAsia.

MassMutual Ventures SEA, MDI Ventures and Central Capital Ventura also joined the round.

The post SE Asian insurtech startup Qoala raises $13.5m led by Centauri Fund appeared first on DealStreetAsia.

Reliance Industries' partners are considering joining the arbitration that the Mukesh Ambani-run firm is planning to initiate against the government for slapping a $1.55 billion demand for "unfairly enriching" by producing natural gas

Anil Ambani-led Reliance Group's private equity firm has invested $12 million in real estate brokerage firm Square Yards, the realty firm said today.

Alibaba Group, the e-commerce giant behind the 24-hour Singles' Day shopping blitz, has raked up a record $17. 6 billion in the Singles Day online sales, creating a new record in global retail sales for any single day.

In a move to "democratise" artificial intelligence (AI) and making it accessible to everyone, Microsoft has teamed up with OpenAI, a non-profit AI research organisation co-founded by Elon Musk.

Around 600 Australians are trapped in the Hubei province amid fears over the deadly outbreak that has so far killed 170 people and affected more than 7,000 in China.

Australian Deputy Prime Minister Michael McCormack said the move was about ensuring essential workers including frontline medical and defence workers were able to travel.

An aviation insider fears the demise of Virgin Australia would give Qantas a licence to charge $1,000 for a Sydney to Melbourne airfare. Velocity Frequent Flyer points are also at risk.

Qantas could drop the price of regional flights to just $19 as the airline tries desperately to recover from the coronavirus shutdown.

5,500 workers at Dnata, which supplies frozen meals to businesses like Qantas received the news they were no longer eligible for the $1500/fortnight payment on Monday.

Say hello to the 3D printed Czinger 21C. It's been created by the LA-based auto maker and just 80 will be produced. Everything has been developed in-house, including a 1,233bhp drivetrain.

The traveller was asked to pay up for being shuffled around the New York hospital for five hours and eventually being ejected without ever having a test done.

The Wrinkle In Time director recounted how Little Richard helped her out during her college days with generous tips while she waitressed. She'd go on to become an acclaimed filmmaker.

The Hall of Famer is repaying the money after an audit of funds alleged that Mississippi officials improperly spent $94 million in federal money.

FDI by firms moving from China to India will help offset damage: Kotak’s Shah

Breitburg and her team want to determine just how much stress they cause. Over the next five years they will conduct a series of lab and field experiments that examine how diel-cycling hypoxia and the associated acidification affects the growth and disease rates in striped bass, the eastern oyster and other ecologically and economically important Chesapeake Bay species. They will also study the animals’ behavioral responses to these changes.

The post Smithsonian ecologists to examine “dead zones” in Chesapeake Bay with $1.4 million NOAA grant appeared first on Smithsonian Insider.

The goal of the project—the Smithsonian’s Tennenbaum Marine Observatories—is to monitor the ocean’s coastal ecosystems over a long period of time.

The post Smithsonian launches Global Marine Biodiversity Project with $10 million donation appeared first on Smithsonian Insider.

The value of what the United States loses because of the poorer health and earlier death experienced by the 41 million Americans who lack health insurance is estimated to be $65 billion to $130 billion every year, according to a first-ever economic analysis of the costs of uninsurance for society overall.

The Gulf Research Program (GRP) of the National Academies of Sciences, Engineering, and Medicine today announced a new grant opportunity focused on enhancing coastal community resilience and well-being in the Gulf of Mexico region.

Following recommendations from a National Academies of Sciences, Engineering, and Medicine report released earlier this year, the National Academies’ Gulf Research Program (GRP) is developing a long-term research campaign to improve understanding and prediction of the Gulf of Mexico Loop Current System (LCS).

The Gulf Research Program of the National Academies of Sciences, Engineering, and Medicine today announced $10.7 million in grant awards for four new projects focused on enhancing community resilience in the U.S. Gulf of Mexico region.

Two workers approach the entrance to Life Care Center in Kirkland, Wash., on March 13. An association that represents nursing homes is asking for billions of dollars in federal relief funds to cope with the coronavirus crisis.; Credit: Ted S. Warren/AP

With more than 11,000 resident deaths, nursing homes have become the epicenter of the COVID-19 crisis. Now, they're asking the federal government for help — $10 billion worth of help.

The American Health Care Association, the trade organization for most nursing homes, called the impact on long-term care facilities "devastating." In a letter sent this week to the Federal Emergency Management Agency and Health and Human Services Secretary Alex Azar, they ask for the federal government to designate relief funding from the CARES Act for nursing homes the way it has for hospitals.

The money would be used for personal protective equipment, salaries for expanded staff, and hazard pay. In addition, some of the funds would make up lost revenue for nursing homes that have been unable to admit new residents because of the outbreak.

The AHCA also wants nursing homes to have more access to testing and some members of Congress want that too. This week, 87 members of the House of Representatives sent their own letter to Azar, as well as to Seema Verma, the administrator of the Centers for Medicare and Medicaid Services, which regulates nursing homes. The letter asks those agencies to direct states — which have received billions of dollars for increased testing — to give priority to long-term care facilities.

The letter also notes that nursing homes are now required to report their numbers of COVID-19 infections and deaths to the Centers for Disease Control and Prevention, but that they can't meaningfully do this unless they can test everyone in the facility.

Democrats in both the House and the Senate have also introduced legislation intended to make things safer for both nursing home staff and residents. The bill would require nursing homes to take a range of actions, from providing better infection prevention, to supplying sufficient protective gear, to protecting a resident's right to return to the nursing home after they've been treated for COVID-19 at a hospital.

This content is from Southern California Public Radio. View the original story at SCPR.org.

David Rolf, International Vice President of the Service Employees International Union, stands in his downtown Seattle office. Rolf led the campaign to bring a $15 minimum wage to Seatac, Washington in 2013.; Credit: Ben Bergman/KPCC

As Los Angeles mulls a law that would raise the minimum wage above the current California minimum of $9 an hour, it's the latest city to jump on a trend that started as the by-product of a failed labor negotiation in the state of Washington.

The first city to enact a $15-per-hour minimum wage was SeaTac, Wash., — a tiny airport town outside Seattle. "SeaTac will be viewed someday as the vanguard, as the place where the fight started," the lead organizer of SeaTac's $15 campaign, David Rolf, told supporters in November 2013 after a ballot measure there barely passed.

Rolf never set out to raise SeaTac’s minimum wage, much less start a national movement. Speaking from a sparse corner office in downtown Seattle at the Service Employees International Union 775, which he founded in 2002, Rolf told KPCC that his original goal in 2010 was to unionize workers at SeaTac airport.

When employers – led by Alaska Airlines — played hardball, Rolf put the $15 minimum wage on the ballot as leverage. “We had some polling in SeaTac that it could pass, but it was not at all definitive,” Rolf said.

That proved prescient: In a city of just 12,108 registered voters, Rolf's staff signed up around 1,000 new voters, many of them immigrants who had never cast a ballot. The measure won by just 77 votes.

It's an irony that the new law doesn't apply to workers at the center of the minimum wage campaign: The airport workers at SeaTac. That's because the Port of Seattle, which oversees the airport, challenged the initiative, arguing that the city's new minimum wage should not apply to the nearly 5,000 workers at the airport. A county judge agreed. Supporters of the $15 wage have appealed.

Still, Rolf said, "I think people are proud that that’s what happening. There are leaders of the movement in Seattle, including our mayor, that said shortly after the victory, 'Now we have to take it everywhere else.'"

The $15 minimum wage spread to Seattle last June and to San Francisco in November. 

Why $15 an hour?

The $15 figure first came to people’s attention in a series of strikes by fast food workers that started two years ago in New York. 

“I think it’s aspirational, and it provides a clean and easy-to-understand number," Rolf said. "You can debate whether it ought to really be $14.89 or $17.12, and based upon the cost of living in different cities, you could have a different answer. But in the late 19th and early 20th century, American workers didn’t rally for 7.9 or 8.1 hour working day. They rallied for an eight-hour day.”

“What’s really remarkable about social protest movements in American history is that the radical ideas of one group are often the common sense ideas of another group in a matter of a few years," said Peter Dreier, professor of politics at Occidental College.

Rolf is hopeful the $15 minimum wage can spread to every state. But Nelson Lichtenstein, Director of the Center for the Study of Work, Labor and Democracy at the University of California, Santa Barbara, is skeptical.

“I don’t think having high wages in a few cities will mean it will spread to red state America,” he said. 

Lichtenstein said cities like L.A. have become more labor friendly, thanks largely to an influx of immigrants, but that’s not the case in the South. Oklahoma recently banned any city from setting its own minimum wage, joining at least 12 other states with similar laws, according to Paul Sonn, general counsel and program director at the National Employment Law Project.

In November, voters in four Republican-leaning states — Alaska, Arkansas, South Dakota, and Nebraska — approved higher minimum wages, but they weren’t close to $15.

A $15 dollar wage would have a much greater impact in Los Angeles than Seattle or San Francisco because the average income here is much lower than in those cities. Post-recession, income inequality has become much more of a concern for voters, which has made $15 more palatable, Sonn said.

This fall, the Los Angeles City Council enacted a $15.37 minimum wage for hotel workers that takes effect next year. A similar law has been in effect around LAX since 2007. 

But even though California cities have been allowed to set their own minimum wages for more than a decade, L.A. has never come close to doing so.

Until now.

This content is from Southern California Public Radio. View the original story at SCPR.org.

“Union members and non-union members have a strong interest in seeing our economy grow," said Rusty Hicks, the new head of the Los Angeles County Federation of Labor, which represents over 300 unions.; Credit: Ben Bergman/KPCC

Labor unions have led the fight to raise the minimum wage in several American cities, including Los Angeles, where the City Council is considering two proposals right now that would give raises to hundreds of thousands of workers (to $13.25 an hour by 2017 and $15.25 an hour by 2019).

But few of the unions' members have benefited directly from the initiatives. So why do unions care about a $15 wage for non-union workers? 

It’s part of a long-term strategy to protect the interests of their members, labor leaders say. They also see an opportunity to raise the profile of unions after years of falling membership.

"We can’t be the movement that’s just about us," said David Rolf, an international vice-president of SEIU, who led the first successful $15 minimum wage campaign in SeaTac, the town in Washington that is home to the region's similarly named airport. 

“We have to be the movement that’s about justice for all," Rolf added. "The labor movement that people flocked to by the tens of millions in the 1930s wasn’t known for fighting for 500-page contracts. They were known for fighting for the eight-hour day, fighting to end child labor.”

The idea that workers should earn $15 dollars an hour first came to the public’s attention during a series of fast food strikes that started in New York City in late 2012. Those workers didn’t just walk off the job by themselves. They were part of a campaign organized by unions, led by SEIU, which is made up mostly of public sector and health care workers.

$10 million fast-food strikes

The Service Employees International Union spent $10 million dollars on the fast food strikes, according to The New York Times. But none of those restaurants have unionized, and because it’s been so hard to form private sector union these days, they probably never will, said labor historian Nelson Lichtenstein.

“In effect what you have now is the SEIU – its hospital membership or its members working at the Department of Motor Vehicles – helping to raise the wages of fast food workers, but not their own wages,” Lichtenstein said.

That's because unionized workers earn far more than the current or proposed new minimum wages, in L.A. an average of more than $27 an hour, according to UCLA's Center for Research on Employment and Labor. 

The spread of the $15 minimum wage from SeaTac to Seattle to San Francisco — and now possibly Los Angeles — is a huge victory for labor unions, but it’s unlikely most of the people getting raises will ever be part of organized labor.

Still, the rank and file seem to support their unions' efforts.

“I personally support using our organization as a way to advocate for those who don’t have a voice," said Rafael Sanchez III, a teacher's assistant at Bell High School who's a member of SEIU Local 99. 

A challenging time for the labor movement

In the 1950’s, about one in three American workers belonged to a union. Last year, just 11 percent did – or 6 percent of private sector workers – the lowest numbers in nearly a century.

Rolf says the minimum wage campaigns mark a change in tactics for organized labor; Rather than the shop floor, the focus is on the ballot box and city hall.

“Since at least the 1980s, winning unions in the private sector has been a Herculean task," Rolf said. "The political process provides an alternative vehicle.”

And an increasingly successful one. It was voters who approved the first $15 wage, in Washington state in 2013, and another one in San Francisco last year.  

In Los Angeles, the issue is before the city council. Mayor Eric Garcetti opened the bidding, proposing a raise of $13.25 on Labor Day before six council members countered with $15.25.

The Los Angeles County Federation of Labor – lead by Rusty Hicks — is pushing for the higher option.

“Union members and non-union members have an interest in seeing our economy grow," said Hicks. "You can’t continue to have a strong, vibrant economy if in fact folks don’t have money in their pockets.”

Other benefits for unions: A safety net and a higher floor

Some union members see a higher minimum wage as a safety net.

Robert Matsuda is a studio violinist represented by the American Federation of Musicians, part of the AFL-CIO. Even though he’s not working for the minimum wage now, he worries that may not last: He’s getting fewer and fewer gigs as more film and TV scoring is outsourced overseas.

“I might have to take a minimum wage job in the near future, so it might directly affect me,” said Matsuda.

There’s also a more tangible benefit for unions, says Nelson Lichtenstein, the labor historian: A higher minimum wage means a higher wage floor to negotiate with in future contracts.

“It’s one labor market, and if you can raise the wages in those sectors that have been pulling down the general wage level – i.e: fast food and retail – then it makes it easier for unions to create a higher standard and go on and get more stuff,” said Lichtenstein.

On Friday morning, union members will rally in front of Los Angeles City Hall, calling on the council to enact a $15.25 an hour minimum wage as soon as possible.

This content is from Southern California Public Radio. View the original story at SCPR.org.

The median loss to fraudulent schemes that exploit the global health crisis is almost US$600

The post Americans report US$13 million in losses from coronavirus scams appeared first on WeLiveSecurity

Reliance and Facebook know a friction-less payments service is key to successful online commerce — but so are mom and pop shops. JioMart and WhatsApp’s embryonic Mumbai service is intended to first get Indians accustomed to messaged transactions with local businesses known as kirana: the tiny neighborhood stores where most Indians buy daily essentials.

Microsoft Corp. said on Friday it would create its first datacentre region in Italy under a $1.5 billion investment plan as the U.S. company expands its cloud computing services to more locations across the world.

Microsoft Corp. said on Friday it would create its first datacentre region in Italy under a $1.5 billion investment plan as the U.S. company expands its cloud computing services to more locations across the world.

The Supreme Court of Western Australia has ordered $175,100 be forfeited to the Commonwealth, following an Australian Federal Police (AFP) investigation into proceeds of crime seized at Perth Airport in 2018.

Netflix docu-series The Last Dance has kept basketball fans occupied while the sporting world goes into lockdown, with more than six million Americans tuning in to ESPN every week.

With many Australian families feeling the pinch at the moment, one Aussie mum has revealed her simple trick for creating multiple dinners using one key ingredient.

The oil price has been predicted to hit $100 per barrel in around 18 months.

Occidental Petroleum Corp. took a $1.4 billion writedown related to an investment in a pipeline affiliate.

Petrofac has been awarded two three-year renewals in the UK worth a combined total of more than $100 million.

Here are some of Rigzone's top stories during the last week, just in case you missed them...

Two of Norway's most influential oil executives asked the government to change a tax proposal that is meant to boost investment.

Tesla is losing money, but its IPO is likely to succeed because it's the sexiest automaker on the planet, and everybody wants some of the fairy dust.

The 150-foot-wide asteroid 2012 DA14 may harbor $65 billion of recoverable water and $130 billion in metals.

But there are things you can do if you find a big 4K TV under the tree.

A Silicon Valley investor with a penchant for green technology raised $1 billion for a new venture fund. His vision: science experiments and clean technologies

The difference between .99 pricing and round number pricing depends on what type of thinker you are — and how busy you are.

The Pollination Project offers small grants to social-change startups — with big results.

Sure, the tax is bringing in money, but will it really make any difference in people's health?