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Japan has introduced a system of cash-back rewards points in response to increasing the consumption tax from 8 percent to 10 percent.The new system 鈥?which rebates the tax increase in some stores when pay stanley cup ing with a card rather than cash 鈥?will run until June 2020. The aim is to prevent a recession like the one that happened in Japan after the tax was increased from 5 percent to 8 percent in 2014. The government has promised to spend half of the extra revenue on Social Security and fre stanley thermos e childcare, as well as reducing the budget deficit.Retailers must sign up to participate, with different payment companies implementing the system in various ways. While there were some system problems reported on Tuesday Oct. 1 , most debit and credit card providers have chosen a system that simply gives the rewards as an automatic rebate on the bill. For example, smaller retailers are able to give a 5 percent rebate, making their goods cheaper than before the tax boost. Franchises, including convenience stores, can give 2 percent, but large retailers and supermarkets cannot participate in the program. If you just look at the consumption tax in isolation, then it certainly has a negative effect on the economy, said Akio Mimura, chairman of the J stanley france apan Chamber of Commerce, according to the Financial Times. However, he pointed out that another aspect is the publics sense of security at a time when there are inadequate resources for Social Security. The government has also int Hsnn Housing Startup PadSplit Plans Houston Expansion After Landing $10M In VC
Uber has made a bid for Nokia Here, Google Maps main competitor, for as much as $3 billion, reports The New York Times. Nokia had announced last month that it was interested in selling and now plans on signing a deal by the end of May.At the beginning of the year, the fast-growing alternative cab service had raised more than $4 billion since being founded in 2010, with $1.6 billion in debt fina stanley cup ncing from Goldman Sach stanley hrnek s in order to expand in Asia.聽 Now Uber has the ambition to develop autonomous cars and could therefore be a step ahead of its German car competitors 鈥?also interested in bidding with the Here technology. Two months ago, Uber took over a mapping company, deCarta, based in California.Currently, Uber relies on Google Maps for tracking its vehicles. But as Google is busy developing its own autonomous vehicles, Uber is eager to find an alternative. The same is true for Mercedes, Audi and BMW, which are presenting a bid as a consortium. Other U.S. tech giants who have shown interest include Facebook and Microsoft.Digital mapping services are key to car manufacturers, as Internet-connected vehicles will be increasingly used. By 2020, about 150 million vehicles will be connected via Wi-Fi, and 60 percent to 75 percent of them will be capable of consuming, creating and sha stanley termoska ring Web-based data, said Gartner, an information technology research and advisory firm.Gartner predicts that 58 percent of U.S. and 53 percent of German vehicle owners will insis |