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Tazara project showcases Beijing’s leaner approach to overseas development just as western aid appears to retreatView the full article

Investment group with rights to songs by Shakira will be ‘fundamentally different’ under unified structureView the full article

Moves come as consultants strain to protect annual profit pool of close to £1mn per partnerView the full article

The US president’s officials are standing by their strategy to remake the world’s largest economyView the full article

ESG and DEI are out as the US president’s son makes lucrative investments that align with his father’s vision of AmericaView the full article

Capricious policies from Washington have created a very unpredictable economic environmentView the full article

Measures designed to protect the struggling US steel industry could also help a cohort of global producersView the full article

President Donald Trump’s dramatic cuts to U.S. government grants are destabilizing every corner of the nonprofit sector, leaving organizations scrambling to adapt. Stacy Palmer, CEO of The Chronicle of Philanthropy, explores how organizations can adjust to the unpredictable philosophy of the new administration, the cuts’ relationship to Trump’s war on diversity, equity, and inclusion, and why this moment could further fracture the ties that bind Americans together. This is an abridged transcript of an interview from Rapid Response, hosted by Robert Safian, former editor-in-chief of Fast Company. From the team behind the Masters of Scale podcast, Rapid Response features candid conversations with today’s top business leaders navigating real-time challenges. Subscribe to Rapid Response wherever you get your podcasts to ensure you never miss an episode. Thousands of not-for-profits, aid groups, universities, and hospitals rely on government grants. The Trump administration has targeted that aid, first announcing a full-on freeze of grants and loans in late January, later rescinded, but many subsequent cuts. Then in his recent address to Congress, he name-checked a litany of what he framed as wasteful, absurd grants. What’s going on? What is the mood like in the philanthropy world? Is it anger, is it fear? Are there any cheers? Nonprofits and foundations are mostly terrified, for a lot of different reasons. One is about just the philosophy of cutting off this aid. One is about the direct impact on their organizations. The other is that there’s fear for the safety of their staffs—a lot of concern about whether all of this targeting of nonprofits might lead to physical or cybersecurity or other kinds of threats. So I would say most people in the nonprofit world are in a very bad state, worse than I’ve seen before in my history of covering these organizations, and worse than it was in the Reagan administration when we saw a lot of cuts. Even the conservatives who feel strongly about cutting government and see that there’s waste are very upset about the fact that this seems so haphazard, that there’s not a philosophy of the idea that we should ask philanthropy to take up the charge and we should be organized about how we think about that. This all seems very random. It comes, it goes. It means that nonprofits can’t make payroll. It means that foundations can’t figure out what the smartest strategy is to do. So it’s a pretty rough time in the nonprofit and foundation world. Beyond the funding, you mentioned concerns for physical safety. Are there examples of that or stories of that? Are you hearing that from certain kinds of organizations? I’ve talked to several grantmakers who said that the first request they’re getting for extra funding is to beef up security, and that organizations that deal with the most controversial issues—immigrants, LGBTQ rights, those kinds of things—feel threatened. They say that they’re concerned about doxxing, and I don’t have any examples, but I can’t tell whether they’re withholding the examples because of fear. Things are moving so fast. I know you’ve launched special coverage to try to keep up with the Trump agenda. Is money still flowing but nobody knows for how long? Or has it been cut off, and is that what we’re talking about—like a faucet being turned all the way off? Some groups, even though a court said the money has to keep flowing, say that the money isn’t flowing and that they’ve suffered freezes. Environmental groups, for example, say that they can’t figure out what’s going on with their banks not releasing the money to them, and so there have been disputes over that. It’s not that no aid is flowing. I think some is, but it’s in no organized way that you can figure out why is it coming from some agencies and not others. And when you think about it, all the federal workers who have been laid off, those are the people who would turn on the spigots and make sure that things are flowing and happening. Well, you can’t call the person in the federal government who you used to call. They’re not there anymore. I’m curious how you would describe the sort of role of philanthropy and of nonprofit organizations overall in our economy and our society. One of the things that people don’t really understand is they see billionaires who are incredibly wealthy, and they see them giving away money—people like Bill Gates and Melinda [French] Gates, Warren Buffett—and the dollars are striking. They give more than any of us could think about giving, but they are tiny compared to what the federal government spends. The Gates Foundation could spend all of the money in its coffers, and it would just keep the government operating for a day. It’s just the scale is quite different. So it’s very important to understand the role that government plays, and it’s twofold. One is direct funding of nonprofits. The second is when the federal government and the state and local governments pull back, there are more people in need. That means they turn to nonprofits for extra help. So often what happens in these cutbacks is not just that the nonprofits lose the support they need to provide services, but they have more people at their doors. So the scale of what philanthropy can do versus the federal government is really important to understand. Now, that’s not to say that philanthropy can’t pick up more. There has been an enormous run-up in wealth, as we all know. There are many billionaires who could give very generously and make a difference. So nonprofits are certainly calling on them to do more and calling on the nation’s foundations—Ford, Rockefeller, all the names that you all know—asking them to step up. But it would be foolish to think that any private entities can make up for what the government’s doing. I have to ask you about Elon Musk. What do folks think of him in the philanthropy world? I mean, there is a Gates Foundation. Bloomberg has a foundation. Musk is not necessarily known for that, and he’s having kind of a different impact. Elon Musk, along with President Trump, said some of the most destructive things about nonprofits themselves—that they are horrible organizations that are just sleazy and just trying to make money off of things like homelessness. So there’s been a lot of nonprofit-bashing by both Musk and Trump, and that’s incredibly damaging. If they don’t believe in the value of these organizations, it’s going to cause damage in the short term in terms of resources. But if you were a young person trying to decide where you were going to have a career, if you were motivated to want to be a nonprofit or philanthropy worker, why would you do that after somebody has made it sound like it’s the dirtiest profession ever rather than a call to public service? And I guess in the corporate and the nonprofit reactions in their programs, on attacks on things like DEI or environmental, how much of that is a shift in semantics versus a shift in mission? I’ve seen the term green-hushing rise, sort of the opposite of greenwashing. So hiding sustainability efforts, renaming things that had been DEI to be something else. What about this is semantics versus mission? I know pretty much every foundation we’ve talked to said that they’re looking at every word on their website and seeing whether there are trigger words. Just as you see in the federal government, lawyers are reviewing absolutely everything a foundation does to make sure things are okay. In the absence of really clear guidance from the administration, you can imagine why that’s taking a really long time, but it is not leading anybody to move quickly. Is there any time in history that you’re looking to as you cover this shifting dynamic in the White House and beyond, or is this so unprecedented that there’s really no place to look? The Reagan administration is the one that comes closest because there were these very serious cutbacks, and there was this whole discussion about what is the role of philanthropy and what is the role of nonprofits and how should we do it. So we have asked experts about what kinds of things they have to say. I have two conservatives and two liberals who were involved at that moment who were working in the nonprofit arena, and they all agreed it was unprecedented. And the reason they said that it is this haphazardness, and what one said, who is a very strong conservative, said, “We’ve just never seen something this nasty.” The anger, the kind of feeling that none of this aid matters, it’s deeply disturbing to people really of any ideology because they [Trump and Musk] don’t see that there is an ideology. They want to talk about the view of government. There can be robust debates on that, but this seems unprecedented to the people who have watched this over a long period, which is making it hard to have a playbook. And I think that’s why nonprofits and foundations are struggling. What do you do when you can’t look to history and you have to figure out fresh what’s happening and how to come together? Philanthropy and the work of nonprofits, in a lot of ways, is inherently optimistic. Is there anything that’s making you optimistic right now? I think as long as we continue to have nonprofits that are willing to work collectively to make a difference, that does make me optimistic, because sometimes nonprofits just worry about their own communities, their own causes, their own coffers, and don’t take collective action. But if they will come together and continue to do that and stay strong, that could make a big difference. View the full article

This post was written by Alison Green and published on Ask a Manager. It’s five answers to five questions. Here we go… 1. I get bad vibes from my new boss A new director recently joined my department, and I’ve had an immediate bad feeling about her. I’m not typically quick to judge, and I recognize that she reminds me — at least in some ways — of a family member who is a bit of a narcissist. I want to stay professional and give her a fair chance, but I also don’t want to ignore my instincts if they’re picking up on real red flags. I’ve just been having a gut feeling and maybe, unfairly to her, I am reacting to speech patterns and mannerisms that remind me of my relative. I don’t think I’m imagining all of it though. For example, despite us having met several times in person, she has made no effort to introduce herself to me or ask any questions about me or my role. I suppose I could have taken more initiative myself to engage, but since she is the leader of our team, it feels like initial outreach is her responsibility. I have a fair amount of influence and seniority at my company, but that is not obvious to new people, and to me it feels like she is ignoring or snubbing people who she perceives as having less power. There is probably a more generous way for me to look at this complaint (e.g., bosses can be introverts too) but something just feels off. How can I balance professionalism with due diligence in assessing this situation? And how do I determine whether my concerns are valid or just baggage from my past experience? I don’t want to accidentally start a whisper campaign over something as subjective as bad vibes. Keep your eyes open, but until you have actual signs that there are real problems, treat her exactly the way you would if she weren’t setting off your alarm bells. It’s very possible that you’re reacting to baggage from a family member. It’s also possible that you’re not, and instead your gut is picking up on something real. But until you know for sure, there’s no action to take! After all, if you decided to just blindly trust your gut, what would that look like? You definitely shouldn’t go around sharing your concerns with other people (which I’m assuming is what “accidentally start a whisper campaign” refers to) when she hasn’t done anything! And if you let your gut affect the way you interacting with her, there’s a very high chance of making the relationship worse than it otherwise would be — like not taking any initiative to engage with her even though taking that initiative could help you professionally. (We can argue over whether that should be her responsibility, but the fact is she hasn’t done it herself — so the more relevant question is whether it’s in your best interests to initiate some contact yourself, and in many cases it would be.) You asked about how to balance professionalism with due diligence in assessing the situation, and the answer to that is easy: professionalism wins out, because it’s in your own interests to remain professional. As for due diligence, that just means being willing to give the situation time. At some point, once enough time has gone by, you’ll have learned more about who she is and how she operates, and you’ll know whether your concerns are valid or not. But you won’t know that from day one, just like you wouldn’t know it about someone who wasn’t setting off alarms for you either. 2. I got in trouble for sending mail with upside down flag stamps I’m an admin who processes our outgoing mail. We buy rolls of stamps that over the last couple of years have had a three-flag design. For whatever reason, my brain has trouble with orienting them — I often place them on the mail upside down. (You can see here that they have even been posed for purchase upside down.) It’s not intentional, it’s not a political statement on my part, it just happens when I’m peeling them off and working in a hurry. My supervisor, however, has gotten very upset about it several times. I’ve tried to do better, but he wrote me up today for “making political statements in the company’s name with company materials” when he saw one I accidentally placed upside down. I want to speak to his boss about this to explain and ask if this can be removed from my file. Do you have any suggestions? My coworker suggested I go to the optometrist and get some kind of note but that seems like overkill. Yes, a note from the optometrist would be overkill. (What would it even say?) Your boss isn’t wrong to tell you that you need to place the stamps right-side up. I know it seems like a small thing that might not matter, but because the upside down flag is a symbol of distress, there is a movement around placing flag stamps upside down to make a political statement. It’s reasonable that your boss doesn’t want company mail going out with what could look like a political statement on it, whether or not you intended that way. Or just looking sloppy, for that matter — it might not be something you personally would notice or care about, but other people do and some will read it as less polished. You can certainly try explaining that this was a mistake, not an intentional act, and asking that the write-up be removed or at least if you can add a response to the write-up explaining it was a mistake. But your boss isn’t wrong to be concerned that it’s continued to happen after he’s told you to stop — whether you intended it or not, you’re still sending out mail with what looks like a political statement on it, and you say it’s happening often — and so you do need to figure out a system for making sure it doesn’t keep happening. (Can you lay them out correctly oriented before you start applying them?) 3. Using inappropriate passwords when someone else might see them I work for a large organization as the LMS manager. Someone recently reached out to me because they forgot their password. When I looked it up, I was surprised with the word they chose. I’m not offended but I felt that it was inappropriate for a workplace (mild swear but not offensive — “asshat”). I let them know they need to change it to a more workplace-appropriate word, reset the password back to the default, and they changed their password right back to the inappropriate one. (Makes me wonder how they could forget that!) I know passwords are to be private but if you forget it and have to ask for it, I do see them. Is using swear words in password okay for work? Should I not have said anything and just laughed it off? Well, first, in a secure password system, no one should be seeing anyone else’s passwords, even IT. But in a system where someone else can see the passwords and might need to retrieve one for someone, it’s pretty bad professional judgment to use a swear word (mild and ridiculous as “asshat” is; it’s really on the far fringes of what qualifies as a swear word, but we don’t have a good name for the work-inappropriate category it is in). It’s even worse judgment to refuse to change it after being directly told to. It’s not something I’d bother pursuing any further (unless you’re the person’s manager and there’s a pattern of bad judgment, in which case it’s the pattern that would matter more anyway), but I’d certainly think of them as someone with questionable judgment after this. 4. How to say thanks to a senior leader doing a great job in a terrible time I’m in an industry that’s been very hard hit by the insanity around the executive orders. The actual policy changes and funding cuts, combined with the sheer chaos, volume of new directives, and inconsistency around what’s going on have been brutal. Everyone at my organization has been working around the clock for weeks to try to figure out how to navigate the next meteor that has come crashing through from the government. With a few exceptions, people inside the organization have been amazing about this. We’re exhausted and confused, but people are pulling together and trying to problem solve as much as we can. We have a couple of senior leaders that I don’t work with regularly, but I’ve spent a ton of time with recently. One in particular has been nothing short of heroic. He’s been kind, patient, always available, expert, and fundamentally decent in every single interaction I’ve seen. He manages to combine a strong leadership steer with an ethical grounding and a recognition for the humans he’s working with that is not easy to figure out in the current nightmare. I cannot imagine how he’s doing it, and I shudder to think where we would be if he weren’t here. Is there any way that it would be appropriate to thank him for this? I know gifts are supposed to flow downward in the workplace, but this is so far above and beyond that I’d love to give some token of thanks for what he is doing. Any recommendations? A bottle of his favorite drink? A gift card to a meal out? Something else? I’m a broken record about this but: a personal note telling them everything you said above. That will have more far more meaning, and probably be kept and cherished far longer, than any physical gift you could give him. 5. My company is violating the state law on paid sick time Our office is in California and has three full-time employees. We’re paid by the hour, at the end of the month. In 2024, we were only allowed 24 sick hours and now this year as well. If we’ll need more than 24 hours, we must use vacation time or log zero hours. I’ve told the owner in mid-2023 and again in December 2023 that when we received the employment law posters employers are required to display, they clearly showed that as of January 2024, California employers must provide 40 hours of paid sick leave per year. I’ve also called our payroll company and asked them about this, and they stated our employer is not in compliance. They called and spoke to the owner’s daughter, who reports our monthly hours, yet nothing changed. What do we do about this? My two coworkers will not deal with this and are afraid to rock the boat. File a report with the California department of labor. California happens to be a state that is very assertive about enforcing compliance with its employment laws, and they’ll handle it from there. View the full article

Levies also set to apply to most derivative products such as tennis rackets and air conditioning unitsView the full article

Saltbox, a leading flexible co-warehousing and logistics provider, has announced the launch of the Luck of the Entrepreneur grant to support small businesses. Timed with St. Patrick’s Day, the initiative offers financial assistance to entrepreneurs, reinforcing Saltbox’s commitment to helping small business owners scale effectively. In response to ongoing supply chain challenges, rising costs, and operational obstacles, Saltbox is offering more than just financial aid. The company is providing access to a business community, expert logistics advice, and professional development resources to help entrepreneurs grow. “At Saltbox, we know that success in entrepreneurship isn’t just about luck—it’s about having the right resources, space, and support to turn big ideas into reality,” said Olivia Mariani, VP of Marketing at Saltbox. “With the Luck of the Entrepreneur grant, we’re giving small business owners a boost to help them level up in 2025.” Saltbox is awarding a $1,500 grant to one business that tours a Saltbox location by March 31. In addition, starting March 17, all new members will be entered into a monthly drawing for $1,500 in funding. Additional prizes include free growth consulting sessions, exclusive Saltbox merchandise, and gift cards. Existing members will also have access to funding opportunities through a quarterly drawing. “As entrepreneurs ourselves, we know firsthand the challenges that small business owners face every day,” said Katerina Cirilli, COO at Saltbox. “Saltbox was built to help logistics-enabled entrepreneurs thrive, and this grant program is another way we’re making sure they have the resources, community, and infrastructure to succeed—not just today, but for the long haul.” How to Enter Entrepreneurs located near any of Saltbox’s 11 locations are encouraged to tour a facility before March 31 to qualify for the grant drawing. The first winner will be announced on April 4. Current Saltbox members will be automatically entered into the new monthly and quarterly drawings beginning March 17. For more details on the Luck of the Entrepreneur grant and how Saltbox is supporting small businesses, visit Saltbox’s website. This article, "Saltbox Launches ‘Luck of the Entrepreneur’ Grant for Small Businesses" was first published on Small Business Trends View the full article

Saltbox, a leading flexible co-warehousing and logistics provider, has announced the launch of the Luck of the Entrepreneur grant to support small businesses. Timed with St. Patrick’s Day, the initiative offers financial assistance to entrepreneurs, reinforcing Saltbox’s commitment to helping small business owners scale effectively. In response to ongoing supply chain challenges, rising costs, and operational obstacles, Saltbox is offering more than just financial aid. The company is providing access to a business community, expert logistics advice, and professional development resources to help entrepreneurs grow. “At Saltbox, we know that success in entrepreneurship isn’t just about luck—it’s about having the right resources, space, and support to turn big ideas into reality,” said Olivia Mariani, VP of Marketing at Saltbox. “With the Luck of the Entrepreneur grant, we’re giving small business owners a boost to help them level up in 2025.” Saltbox is awarding a $1,500 grant to one business that tours a Saltbox location by March 31. In addition, starting March 17, all new members will be entered into a monthly drawing for $1,500 in funding. Additional prizes include free growth consulting sessions, exclusive Saltbox merchandise, and gift cards. Existing members will also have access to funding opportunities through a quarterly drawing. “As entrepreneurs ourselves, we know firsthand the challenges that small business owners face every day,” said Katerina Cirilli, COO at Saltbox. “Saltbox was built to help logistics-enabled entrepreneurs thrive, and this grant program is another way we’re making sure they have the resources, community, and infrastructure to succeed—not just today, but for the long haul.” How to Enter Entrepreneurs located near any of Saltbox’s 11 locations are encouraged to tour a facility before March 31 to qualify for the grant drawing. The first winner will be announced on April 4. Current Saltbox members will be automatically entered into the new monthly and quarterly drawings beginning March 17. For more details on the Luck of the Entrepreneur grant and how Saltbox is supporting small businesses, visit Saltbox’s website. This article, "Saltbox Launches ‘Luck of the Entrepreneur’ Grant for Small Businesses" was first published on Small Business Trends View the full article

A new report from Oxford Economics reveals that TikTok has become a key driver of employment in the United States, with 7.5 million businesses on the platform supporting more than 28 million workers. The study, published today, highlights TikTok’s role in job creation and economic opportunity, particularly for small and mid-sized businesses. 4.7 Million Jobs Directly Benefit from TikTok The Oxford Economics report estimates that 4.7 million jobs in the U.S. benefit directly from using TikTok. This includes: Over 3.1 million workers who use TikTok in their jobs by creating content for the platform or managing accounts. More than 1.6 million workers who benefit indirectly, such as sales teams generating leads, marketing teams engaging customers, and product teams analyzing user feedback. Businesses Scaling with TikTok The study found that 74% of businesses on TikTok reported the platform helped them scale their operations, a trend observed across both small and large enterprises. TikTok’s unique format enables businesses to create authentic and engaging content, expanding their reach and driving revenue growth. “Tiktok’s impact on the US economy continues to expand, with millions of small and mid-sized businesses using the platform to reach new customers, increase engagement, and create jobs,” said Blake Chandlee, President of Global Business Solutions at TikTok. “The latest Oxford Economics report underscores this growing influence, estimating that 28 million people are employed by businesses that leverage TikTok’s features. The platform isn’t just a tool for brand awareness—it’s a catalyst for real economic opportunity, fueling job growth and innovation across the country.” Laurence Wilse-Samson, Lead Economist at Oxford Economics, added, “The survey findings and an analysis of TikTok’s business account data suggest that millions of people in US businesses are either directly using the app as part of their jobs or benefit from the leads and opportunities it creates.” Building on Previous Research This latest report builds on Oxford Economics’ 2024 study, which focused on small and mid-sized businesses (SMBs) using TikTok. That earlier analysis estimated that SMBs contributed $24 billion to the U.S. GDP and supported 224,000 jobs across the supply chain. Unlike the previous study, this new report considers businesses of all sizes, leading to a significantly higher estimate of total jobs impacted by TikTok. The research was based on a 1,000-respondent survey conducted from December 2024 to January 2025, which included businesses from all 50 states, the District of Columbia, and Puerto Rico. To participate, businesses were required to have a TikTok account for business use. The findings also incorporate TikTok’s proprietary business account data and U.S. Census Bureau business population estimates. Real Business Success Stories Small business owners credit TikTok with transforming their operations and enabling them to grow. “We started in September 2016 with nothing but a small food stand in a local flea market—just me, my husband, and two employees,” said Vanessa Barreat, owner of La Vecindad in Las Vegas, Nevada. “Today, we have 60 employees, two locations, and a thriving community of customers who found us through TikTok. Dozens of families now rely on La Vecindad, and we can even send our children to college—something we once only dreamed of.” The platform’s impact spans various industries, including retail. “TikTok was one of the major factors that helped us triple our business,” said Alex Bellman, chief operating officer of Bellman Jewelers in Manchester, New Hampshire. “Because of TikTok, we had to hire eight new employees and are now opening a second location in Boston. Without this platform, we’d have to spend tens of thousands of dollars just to try to compete with larger brands. It’s helped level the playing field for small businesses like ours.” Beyond Business Accounts The report notes that TikTok’s economic impact extends beyond businesses that have official accounts. Many independent creators, entrepreneurs, and personal brands use the platform to generate income, build careers, and support their professional endeavors. This article, "New Report: TikTok Supports 28 Million Jobs Across 7.5 Million US Businesses" was first published on Small Business Trends View the full article

A new report from Oxford Economics reveals that TikTok has become a key driver of employment in the United States, with 7.5 million businesses on the platform supporting more than 28 million workers. The study, published today, highlights TikTok’s role in job creation and economic opportunity, particularly for small and mid-sized businesses. 4.7 Million Jobs Directly Benefit from TikTok The Oxford Economics report estimates that 4.7 million jobs in the U.S. benefit directly from using TikTok. This includes: Over 3.1 million workers who use TikTok in their jobs by creating content for the platform or managing accounts. More than 1.6 million workers who benefit indirectly, such as sales teams generating leads, marketing teams engaging customers, and product teams analyzing user feedback. Businesses Scaling with TikTok The study found that 74% of businesses on TikTok reported the platform helped them scale their operations, a trend observed across both small and large enterprises. TikTok’s unique format enables businesses to create authentic and engaging content, expanding their reach and driving revenue growth. “Tiktok’s impact on the US economy continues to expand, with millions of small and mid-sized businesses using the platform to reach new customers, increase engagement, and create jobs,” said Blake Chandlee, President of Global Business Solutions at TikTok. “The latest Oxford Economics report underscores this growing influence, estimating that 28 million people are employed by businesses that leverage TikTok’s features. The platform isn’t just a tool for brand awareness—it’s a catalyst for real economic opportunity, fueling job growth and innovation across the country.” Laurence Wilse-Samson, Lead Economist at Oxford Economics, added, “The survey findings and an analysis of TikTok’s business account data suggest that millions of people in US businesses are either directly using the app as part of their jobs or benefit from the leads and opportunities it creates.” Building on Previous Research This latest report builds on Oxford Economics’ 2024 study, which focused on small and mid-sized businesses (SMBs) using TikTok. That earlier analysis estimated that SMBs contributed $24 billion to the U.S. GDP and supported 224,000 jobs across the supply chain. Unlike the previous study, this new report considers businesses of all sizes, leading to a significantly higher estimate of total jobs impacted by TikTok. The research was based on a 1,000-respondent survey conducted from December 2024 to January 2025, which included businesses from all 50 states, the District of Columbia, and Puerto Rico. To participate, businesses were required to have a TikTok account for business use. The findings also incorporate TikTok’s proprietary business account data and U.S. Census Bureau business population estimates. Real Business Success Stories Small business owners credit TikTok with transforming their operations and enabling them to grow. “We started in September 2016 with nothing but a small food stand in a local flea market—just me, my husband, and two employees,” said Vanessa Barreat, owner of La Vecindad in Las Vegas, Nevada. “Today, we have 60 employees, two locations, and a thriving community of customers who found us through TikTok. Dozens of families now rely on La Vecindad, and we can even send our children to college—something we once only dreamed of.” The platform’s impact spans various industries, including retail. “TikTok was one of the major factors that helped us triple our business,” said Alex Bellman, chief operating officer of Bellman Jewelers in Manchester, New Hampshire. “Because of TikTok, we had to hire eight new employees and are now opening a second location in Boston. Without this platform, we’d have to spend tens of thousands of dollars just to try to compete with larger brands. It’s helped level the playing field for small businesses like ours.” Beyond Business Accounts The report notes that TikTok’s economic impact extends beyond businesses that have official accounts. Many independent creators, entrepreneurs, and personal brands use the platform to generate income, build careers, and support their professional endeavors. This article, "New Report: TikTok Supports 28 Million Jobs Across 7.5 Million US Businesses" was first published on Small Business Trends View the full article

Halving of staff thought to be precursor to campaign pledge of shutting down the agency View the full article

Financial regulator says it will scrap new public interest test after backlash from the City and government officialsView the full article

For ages, real estate has been defined by the tangible: buildings, land, square feet. Nowadays, however, the world’s most valuable businesses make their money from what is intangible—brands, networks, knowledge, and experiences. As of 2020, 90% of the value at the S&P 500 comes from intangible assets, up from 32% 40 years ago. The equivalent figure for major European companies lags behind, at just over 74% in 2020, a factor that likely contributes to Europe’s lower growth rate and per capita GDP. Much of the difference is made by a few unmatched American technology platforms. Real estate, too, must evolve beyond its physical footprint. At Atrium Ljungberg, where I work, we started that process a long time ago. Our market offering is not only built on bricks and mortar, but interactions and services happening inside and between offices, apartments, and retail spaces. This makes them greater than the sum of its parts. Our portfolio is more than a collection of buildings: It is the life between buildings. For that reason, we don’t operate buildings separately, but focus on developing large, interconnected districts. In a way, we could be seen as a platform company, enabling people, businesses, and ideas to connect and grow. This philosophy drives our megaprojects redeveloping parts of Stockholm. Real estate as a platform business At their core, platforms create value by coordinating interactions, reducing barriers and transaction costs, and enabling large-scale economic activity through network effects. The highest-performing businesses on the S&P 500 today create ecosystems where value is co-generated, but facilitated by these companies. Of the world’s 10 largest companies by market capitalization—from Amazon and Alphabet to Meta—seven can be considered platform businesses. All sprung up in the last two decades. Sweden’s most valuable company, Spotify, fits into the platform archetype too. Let’s apply platform logic to urban environments. A thriving city district is a dynamic system where different actors—residents, businesses, visitors, civil society, cultural institutions—interact in ways that ideally enhance each other’s experience. The role of a developer, then, is not just to build and lease space but to curate and connect—facilitating an ecosystem where people and businesses can thrive. This includes thinking beyond the traditional landlord-tenant relationship. A more holistic approach ultimately delivers increased value also to individual tenants. Just as nightclub owners need the right crowd, we carefully consider the first tenants in our developments: Who will create the most value for others in future? They lay the foundations for whoever comes next. This is also how you must start growing a platform. We’ve introduced flexible memberships that allow businesses to access workspaces across different locations. We’ve partnered with mobility providers to offer shared transport solutions that reduce car dependency. We’ve invested in cultural programming that extends a district’s life beyond office hours. In each of these cases, our broader ambition is to generate lasting impact for our customers and other stakeholders, including city councils. Why we report livability to financial markets Urban environments have always derived their value from interaction, not just location. The classic example is the agglomeration effect—why businesses cluster, for instance, in financial or life sciences districts, or why creative industries thrive in repurposed warehouse spaces. It’s no secret that economic productivity is shaped by knowledge, relationships, and culture—and you likely see this in your own work. This is why companies pay a premium for office space in vibrant areas, why retail thrives in lively environments, and why people prefer communities that offer more than a place to live. If a company attracts or keeps better talent because of the neighborhood it’s in, or if a retail street sees increased foot traffic because of a carefully curated mix of tenants and public spaces, the economic impact of these factors isn’t always obvious at first. But to every CEO, CHRO, or owner, their significance grows over time. Many employers that ignored these factors—whether by relocating or staying in the wrong place—later dealt with talent flight, engagement drop, and operational struggles. In retrospect, the consequences were clear. It is no coincidence that many of the world’s most valuable companies were born in Silicon Valley, which is an exceptionally livable and well-balanced environment. The repercussions of the area’s rapid economic growth have since put pressure on some livability aspects, but the livable foundation was a key ingredient to its success. Against this background, we’ve developed our own index to capture a wider set of critical livability values. The index not only measures factors like safety and accessibility, but also social interaction and cultural vibrancy. Over the past few years, we’ve significantly advanced our own index score measured across our developments. Since we are a listed company, this score is regularly reported to the stock market, alongside our financial and decarbonization reporting. However, the index is not just a reporting measure—it is directly linked to our sustainability bonds, integrating these intangible values into our financial structure. The more we improve livability, the lower our cost of capital. It’s a way of quantifying what the market increasingly understands: Places that cultivate interaction, well-being, and identity hold lasting value. Well-being as a shared value One of the most overlooked aspects of value, crazily enough, is well-being. Urban loneliness is rising. Stress levels are rising. The way we design and activate spaces in real life can either worsen these problems or help solve them. The platform mindset is crucial here: Isolation is the biggest obstacle to well-being, which relies on interaction, a core function of platforms. The best urban areas are those where people feel connected—to their neighbors, to culture, to work, and to nature. This is why we emphasize not just physical design but the social and emotional experience of a place. That includes shared green spaces and food—some would argue this matters most—to diverse retail, health, and leisure offerings. Developing a place which shapes people’s daily lives comes with great social and economic responsibility, affecting their health, creativity, and sense of belonging. How urban development must evolve in the platform era As the economy continues to shift toward intangible value, championed by platforms, the best real estate developers will understand their role not just as builders or operators, but as city life shapers. This means embracing new objectives, new partnerships, and a new mindset—one that sees urban areas and individual buildings as centers for interaction rather than just physical assets. Urban planners and architects play important roles, but developers are the economic engines defining both projects and functionality over time. Still, compared to architecture, real estate often lacks an innovation mindset—something that has real consequences. We need platform companies in the physical world to be as ambitious as platforms in the virtual one, otherwise it will lose its relative appeal. Relying solely on digital platforms to shape how people live and interact is hardly a sustainable model. To create conditions for greater well-being, we need to strengthen the real-world layer that digital platforms can’t replace. The real-world city naturally exposes us to spontaneous encounters and experiences, sparking creativity in ways algorithms cannot replicate. It engages our innate reward systems through meaningful interactions, making cities uniquely capable of driving both innovation and human well-being—whether or not we actively seek it. This is precisely what digital platforms, with their self-reinforcing bubbles, struggle to achieve. It is also why the city remains humanity’s greatest invention, effortlessly breaking through our mental echo chambers to prove its value as our ultimate interactive platform. Real estate clearly has a void to fill, as the industry isn’t fully delivering on the promise of cities as platforms. To change this, we must learn from the most successful platform companies today. They can teach us a lot about structural efficiency and capacity to shape behavior and economic activity. Digital platforms are not role models in every aspect, but they have certainly demonstrated how to challenge the status quo, link people and companies in new ways, and generate economic value on an unmatched scale. These are all needs in the physical world. There is a clear opportunity for the real estate industry to apply platform principles—and every reason for us to do it. Linus Kjellberg is the head of business development for Atrium Ljungberg. The Fast Company Impact Council is a private membership community of influential leaders, experts, executives, and entrepreneurs who share their insights with our audience. Members pay annual membership dues for access to peer learning and thought leadership opportunities, events and more. View the full article

I’ve always been vocal about the need to fight inequality in our own backyards. As a resident of New York’s Capital Region, I built my marketing business here. And in 2020, I founded Business for Good Foundation, a nonprofit philanthropy organization focused on closing the growing wealth gap and providing a hand up to underserved entrepreneurs. The inequality is blatantly real. The 23.3% poverty rate is more than twice as high in Albany versus the 11.1% national average. In fact, New York is one of the most economically unequal states in the country. While local and state government have made promises to help clean up the city, reduce crime rates, and create more affordable housing, the reality is that we haven’t seen much movement and things aren’t getting better. If we truly hope to level the playing field and tackle these inequities, then those of us driving change in the private sector will simply need to keep our eyes on the ball, and step in where government officials are not. The growing wealth divide in the U.S. While those in political power might not always care to acknowledge it, income inequality remains one of the greatest challenges facing our country, to the point that the U.S. continues to boast a significantly larger wealth gap between the rich and poor than any other developed nation in the world. To put the issue into perspective, according to the Peter G. Petersen Foundation, the income of the 20% of wealthiest U.S. households rose 165% between 1981 and 2021, whereas middle and low income households have only seen growth of 33% and 38%, respectively. And if our political leaders aren’t even willing to recognize, much less take action to address the nation’s growing wealth divide, then making a real impact will require the collective effort, dedication, and resources of private advocacy groups and philanthropists in our communities. The compounding threat of housing inequality Sadly, for the millions of people living in underserved communities across the nation, overcoming income insecurity isn’t about striving for the American dream, but rather ensuring they can feed their families and keep a roof over their heads. And as the U.S. economy continues to grapple with an ongoing housing shortage and affordability crisis, this growing sense of anxiety and desperation has the very real potential to result in further increases in poverty, crime and social unrest. The state of housing affordability in America today is frankly appalling. According to the National Low Income Housing Coalition, there is currently an estimated shortage of over 7 million affordable homes in the U.S., not even close to enough to accommodate the nearly 11 million extremely low income families throughout the country. I’ve witnessed this devastating reality firsthand while living in the Capital Region. To address these issues, Albany announced an executive budget proposal earlier this year that would include a $400 million investment toward revitalizing the community. However, Albany’s government has once again been slow to act, and the commitment has not been seen through, further underscoring the need for community and business leaders to work together to drive meaningful change, with or without state or federal institutional support. Relying on the private sector As someone who’s been lucky enough to have a successful career as an entrepreneur, and who recognizes how the unfair advantages provided to certain groups prevent others from getting ahead, I’ve frequently struggled to understand the state’s unwillingness to step in and put an end to the widespread inequalities that have been plaguing this country for so long. This is exactly the issue I set out to address when I founded the Business for Good Foundation. And if there’s one thing I’ve learned in my experience, it’s that providing those who are less fortunate with equal access to resources and opportunities is often all it takes to uplift an entire community. Going forward, I won’t simply sit on my hands any longer and wait for state leaders’ support to do what’s right. Instead, I plan to double down on our work in New York’s Capital Region through a heightened focus on fostering business growth, economic inclusion, housing stability, and community development to build a better, more equitable world for all. It’s my hope that other business leaders across the private sector will do the same. Ed Mitzen is cofounder of Business for Good. The Fast Company Impact Council is a private membership community of influential leaders, experts, executives, and entrepreneurs who share their insights with our audience. Members pay annual membership dues for access to peer learning and thought leadership opportunities, events and more. View the full article

The Irvine, California-based firm reported a net loss of $67.5 million in the fourth quarter. View the full article

As the new term of the Trump administration gets settled, the United States’ economy sits at a crossroads. With hundreds of billions invested in the energy transition by the previous administration, aimed towards long-term economic and energy security, the stage is set for the United States to take the next step in maintaining its status as the world leader in sustainable technology. Internationally, countries are jockeying to control this trillion dollar market, and while China has an early ”manufacturing” lead, the U.S. industrial and tech sectors can prove to be a decision maker. By focusing on market-driven solutions and domestic resource development, the Trump administration can accelerate what the Biden administration did for the green economy by expediting permits and loosening regulatory approvals, while further strengthening national security and creating high-paying jobs. Critical minerals America’s transition to clean energy requires a robust domestic supply of critical minerals, with lithium playing a central role in our energy future. The U.S. possesses significant lithium reserves, particularly in Nevada, California, Texas, and Arkansas, that remain largely untapped. As Trump’s ally Elon Musk has pointed out several times, investing in lithium refining is “a license to printing money,” and contributes directly to the energy and automotive industry through the production of lithium-ion batteries. The United States must maintain a strong presence in critical economic sectors. With EVs being the primary driver of battery demand, the shift toward EVs poses a challenge to the U.S. automotive industry, a key pillar of the nation’s economy. Over a million Americans are employed in motor vehicle and parts manufacturing, an industry that also plays a fundamental role in the country’s metalworking expertise. This underscores the importance of the ongoing U.S. steel saga and why keeping these industries under American control makes the economy stronger. As other nations scramble to source their own supply of lithium and other critical minerals for the transition, we have the opportunity to reduce dependence on foreign entities and empower U.S. businesses. Embrace the transition Electrical vehicle (EV) adoption is a win-win for the U.S. The link between dependence on foreign oil and economic recessions plagued Americans in 2022 with high gas prices. While the benefits of EVs and renewable energy are very clear in the context of shifting global economic priorities, America needs to fully commit to it lest it find itself too far behind to compete. This means significantly ramping up our current production. To enhance the scale of domestic EV supply chains, the U.S. military aims to create a dedicated market for American companies by utilizing next-generation batteries in a select group of military vehicles, drones, and equipment—excluding current lithium-ion technologies and Chinese suppliers. Likewise, these initiatives could extend to other government agencies procuring batteries, such as the U.S. Postal Service fleet and the 28 other federal agencies that have pledged to increase EV adoption. This would go a long way in creating a fast and efficient supply chain for consumer-facing products. Supporting this could be government-led policies and public-private projects connecting domestic mining operations with local electric vehicles and renewable energy manufacturing further integrating supply chains which will benefit the rural areas in which lithium and other minerals are found. High paying jobs, upskilling opportunities, and the economic development of towns and cities are the direct benefits before we begin to consider the accepted financial gains that everyday Americans will make once the EV and renewable energy sector are implemented at scale. What is next? By reducing barriers to private sector investment, streamlining regulations, and supporting domestic resource development, the Trump administration can lead in developing clean energy solutions that benefit the economy and the environment. Environmental stewardship and economic growth are not mutually exclusive, but rather complementary goals that can be achieved through smart, market-driven policies. The U.S. can be the first green global economy, or we can continue being dependent on foreign interests, selling off American assets like U.S. steel, and trusting foreign powers to run supply chains critical to our national security: This is the crossroads we currently sit at. All indications point towards this second iteration of the Trump administration being good for U.S. businesses— for the sake of a strong American economy, this means committing to the transition that entire industries have been prepping for since he last took office. Teague Egan is CEO of EnergyX. The Fast Company Impact Council is a private membership community of influential leaders, experts, executives, and entrepreneurs who share their insights with our audience. Members pay annual membership dues for access to peer learning and thought leadership opportunities, events and more. View the full article

Government says regulator’s merger with Financial Conduct Authority will reduce complexity and boost innovationView the full article

The company is a leading player in the primary and secondary markets for government-backed reverse mortgages and also has been developing proprietary products. View the full article

A federal judge said she is inclined to issue a preliminary injunction to stop the Trump administration dismantling the Consumer Financial Protection Bureau. View the full article

WASHINGTON (Reuters) – Recent violence against Tesla dealerships will be labeled domestic terrorism, U.S. President Donald Trump said on Tuesday as he selected a new Tesla car to show support for the electric carmaker’s chief, his ally Elon Musk. Shares of the automaker closed nearly 4% higher on Tuesday, rebounding from the biggest one-day fall in four-and-a half years on Monday. Activists have lately staged so-called Tesla Takedown protests to voice displeasure over Musk’s role in sweeping cuts to the federal workforce at the behest of Trump and cancellation of contracts that fund humanitarian programs around the world. Musk, the world’s richest person, is spearheading the Trump administration’s Department of Government Efficiency, or DOGE. “They’re harming a great American company,” Trump said at the White House, referring to the demonstrators. Nearby, a number of Tesla vehicles were lined up on the driveway between the mansion and the south lawn. “Let me tell you, you do it to Tesla, and you do it to any company, we’re going to catch you, and . . . you’re going to go through hell.” About 350 demonstrators protested outside a Tesla electric vehicle dealership in Portland, Oregon, last week, while nine people were arrested during a raucous demonstration outside a New York City Tesla dealership earlier in March. There have also been recent reports of vandalism on Tesla vehicles and showrooms that are under investigation. Trump’s decision to buy a Tesla electric vehicle—he chose a Model S—was a significant show of support for Musk, who has come under criticism for his work in Washington. Model S pricing starts at about $80,000. Trump, in the driver’s seat of the shiny red car, said he’s not allowed to drive anymore but would keep the vehicle at the White House for his staff to use. He said he would pay by check and did not want a discount from Musk. In a post on his Truth Social platform, Trump defended Musk, saying he was “putting it on the line” to help the country and was doing a “fantastic” job. “I’m going to buy a brand new Tesla tomorrow morning as a show of confidence and support for Elon Musk, a truly great American,” Trump said. Musk thanked the president for his support on his own social media platform X. Trump in January took aim at electric vehicles, revoking a 2021 executive order signed by his predecessor Joe Biden that sought to ensure half of all new vehicles sold in the U.S. by 2030 were electric. Tesla’s market capitalization has more than halved since hitting an all-time high of $1.5 trillion on December 17, erasing most of the gains the stock made after Musk-backed Trump won the U.S. election in November. The stock’s decline since December stems from falling vehicle sales and profit, protests against Musk’s political activity, and investor worries that politics was distracting the billionaire from tending to his cash cow. But at the White House event with Trump, Musk said he would double production in the next two years. “As a function of the great policies of President Trump and his administration and an act of faith in America, Tesla is going to double vehicle output in the United States within the next two years,” he said. Musk said in January that Tesla was working hard to increase annual volumes this year, after posting its first drop in annual deliveries in 2024. He did not reiterate an earlier promise of 20%-30% growth in vehicle sales this year. Musk told reporters on Tuesday he would stay in Washington as long as he was useful, but said he would remain Tesla’s CEO. — Jeff Mason and Abhirup Roy, Reuters Reporting by Jeff Mason in Washington and Abhirup Roy in San Francisco; additional reporting by Shubham Kalia and Akash Sriram in Bengaluru. View the full article

Legislation on stop-gap measure now moves to the Senate to avoid a government shutdownView the full article