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​The United States has changed its position, which has virtually stalled global digital tax talks. U.S. Treasury Secretary Janet Yellen told colleagues in the G20 today that Washington will not insist on setting so called safe shelter.

In the negotiations on the global digital tax under the auspices of the Organization for Economic Cooperation and Development (OECD), the administration of US President Donald Trump insisted on so called provision of safe shelter. This would, in fact, allow large technology companies to comply with the law only on a voluntary basis.
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Due to US insistence, global tax negotiations have virtually stalled. The idea was to set a minimum tax rate for technology giants by international agreement.
Companies such as Google, Facebook or Amazon currently generate revenue worldwide, and report profits only in a small number of selected countries, mostly those that allow them to pay lower taxes.

The change in U.S. stance is happening in the context of reshaping the policies of Trump’s successor, Joe Biden. The news was immediately welcomed by Germany and France, which now assess that a global agreement is at hand.
"This is a huge step forward on the road to an agreement between the participating countries by the summer," said German Finance Minister Olaf Scholz. French Economy Minister Bruno Le Maire also called for an agreement to be reached by the summer. Negotiations must resume immediately, he said.
At a meeting of G20 finance ministers, Yellen also promised that the United States would be strongly active in the talks.

France adopted its own income tax on technology companies in 2019 but froze its collection until the end of 2020 for the duration of OECD negotiations. However, Paris drew on Trump's anger, which even threatened France with tariffs.

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​Dubai Airport confirmed a 70% drop in the number of passengers last year. But air passenger traffic, which has been almost completely paralyzed by the covida-19 pandemic, will not return to pre-crisis levels so soon. Lufthansa's first man estimates that the numbers that international airports and airlines once boasted could only come closer in five years.

Dubai Airport, considered as one of the major transit airports, had 25.9 million passengers last year, up 70 percent less from the previous year, when 86 million passengers were listed. The decline was attributed to the covida-19 pandemic and fewer trips, as well as tighter conditions in the tourism sector.
Dubai International Airport CEO Paul Griffiths estimated that last year was the most difficult year for the aviation industry. The airport was even closed for a while in the spring. “The effects of the pandemic have been felt around the world,” he added.
in 2019, as one of the largest airports in the world, already experienced a 3.1% drop in the number of passengers. With this, for the first time in 20 years, they had a drop in passenger numbers on an annual basis.

Dubai Airport
 
last year most passengers arrived at Dubai Airport from India (4.3 million), followed by passengers from the UK (1.8 million) and Pakistan (4.3 million).
Dubai is a popular destination for tourists looking for higher temperatures during the winter. However, Dubai has also had to tighten its measures in recent weeks, as more than 500,000 tourists have 'flocked' to the resorts there, leading to a resurgence in the number of new coronavirus infections.
 
Lufthansa's first man expects air traffic to return to normal in five years
According to Lufthansa CEO Carsten Spohr, air passenger traffic, which has been hit hard by the covida-19 pandemic, will not return to pre-crisis levels any time soon. He estimated that air passenger traffic in Europe and the US at the 2019 level will not return in less than five years.

Lufthansa's fleet will shrink from about 800 to 650 aircraft due to the pandemic.
 
 
“To date, there have been no relaxations of the strict rules, which makes it very difficult to carry air passenger transport,” said Spohr at a web conference of one of London’s economics schools this week. “What’s more, the restrictions have been tightened at best,” he added.
Weak numbers of passengers will be observed in the coming weeks, he is convinced. Even at the height of the summer season, it expects passengers to be only 40 to 60 percent of their numbers before a pandemic break out. “This will be a big challenge for companies,” he pointed out.
According to him, obtaining a negative test for coronavirus before boarding will be crucial, but he emphasized that there are no clear instructions on how the test should be performed. At Lufthansa, he said, they prepared to the best of their ability. He believes that a negative test or vaccination certificate before boarding the plane will sooner or later be a world standard.
 

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​Whether it's setting up a business, real estate transactions or any other legal issue, there is a need for an expert and experienced attorney. Choosing the right one can be time-consuming but it is extremely vital. You are going to trust that person by providing your personal as well as professional information. There are numerous lawyers and selecting the proper one is often discouraging.
 
Much like choosing a doctor, you should choose your lawyer according to your need. While choosing a person for your legal issues, you must go the extra mile. Before committing to anyone you should check out these points so that you won't regret it later.
 
1.Area of expertise 

You have to make sure that the lawyer you are going to hire is an expert in that area of law which you want. There are many areas of practice in the law field, and lawyers are working on the specific area. The specialized lawyer has more knowledge and working experience and he is more likely to handle your issue potentially. Some cover property, family, real estate, business, criminal and civil rights law.
 
2. Ask for referrals

You have to ask for referrals from the people to whom they had worked before. Ask your friends or family who have worked with any lawyer, personal connections are so valuable. Check out the online resources which can provide information about the lawyer. After collecting the names of lawyers, make a list then look out for all these points. If a  lawyer covers all the points then go ahead. Choosing an attorney is very crucial so give it some time and look wisely.
 
3.Regional lawyer

Laws vary from state to state and the regional lawyer has more knowledge about that area where you live. A lawyer should be known of the legal requirements of that area so that you develop a face to face relation. Someone familiar with your region has a better knowledge of local procedures and laws. Local area lawyers will understand your condition more perfectly and will provide you the right solution by working hard on it.
 
4. Choose the right law firm

Choosing the right law firm can affect your decision as well. There are small, large and medium size firms. If you have any small issue then you should go for small firms as they are less expensive and more personal. While, if you have any big issue then big firms can tackle it better but they are expensive yet have more resources and well established.
 
5. Communication

A lawyer should be a good communicator who talks to you nicely and provides the solutions for your problems. A lawyer should also be good to communicate with the adversaries. Always mention your preferred form of communication and fix the time. A good attorney always guides you with advantages and disadvantages of any legal action. Also, the lawyer should take time to advise complicated problems and provide many ways before taking any action.
 

6. The legal team

Yes, the team of the attorney is also a vital part in which you have to be careful. Many lawyers work alone and on other hand some have their team. You have to make sure who is handling your files as it will impact on the cost and service quality. Always ask who is working on your case and communicate to let them know about your case.
 
7. Potential costs

It is important to know how much your lawyer will charge you for the services as it can be expensive. Big law firms are expensive as they have more potential but small firms charge less amount. So, clarify the cost that you are going to pay. Also, discuss that when you have to pay means the duration of billing. The cost is the king of your decision. It depends on how much you want to pay and how much the lawyer wants to charge so always discuss the billing process. If you are paying for the right lawyer then you will worth it.
 
8. Right experience

You want to make sure that the attorney has the right experience in your area of problem. You have to never compromise on the issue when selecting the attorney. Lawyers improve their work by working with more cases. So, it will be better to hire an experienced and specialist lawyer rather than a non experienced yet. Remember, a lawyer with experience will charge more but if you are choosing the right one then there is no harm.
 
9. Compatible enough

While considering all the above points, you should also pay attention to the character of the person. A trustworthy and mutual understandable lawyer will make you feel comfortable. A lawyer who is thoughtful and works hard for you is the best. A lawyer who has a good history with his clients then it's great to deal. Someone who is arrogant and annoying will irritate you and thereby you will not win the case.
 
10. Clarify responsibilities

In a large law firm you can't directly connect with the lawyer because many paralegals are working there. In a small law firm you can directly contact the lawyer and that is a bonus point. Or, if you want to hire a large firm then ask the contact attorney which individual attorney is responsible for your case and communicate with them. You should also ask about which attorneys will work on your case till the end.

Bottom line
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​Pay more attention while choosing a lawyer and there are many factors which can affect it. Experienced and well communicated lawyer is a way to go. While, expertise area, checking references and choosing a regional lawyer and right firm should be considered. Having good mutual relations and asking for fees will make a win-win situation for both.  

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​British Multinational aerospace and defense company, Rolls Royce has admitted to bracing itself to spend £2bn this year. This is due to the decrease in the number of flights as a result of the pandemic that has caused a reduction in the flight of engine-powered planes.
Overall, the reduction in flight has affected the revenue of the company. To worsen the situation, new strains of the coronavirus makes it hard for a clear forecast to be made by experts.
The company that produces engines for Boeing and Airbus aircraft has predicted a reduction in the flying hours this year to 55% of what was experienced in 2019.
This news affected the value of the company’s shares by 9% as seen in early London trading.

In a bid to salvage its finances, Rolls-Royce has decided to sell assets ranging up to billions of pounds. The company will also be closing down some of its factories and cutting out 9000 jobs to save a cost of £1bn.
A statement released by the company reads, “Trading in December was broadly in line with expectations across all business units and we delivered good progress on our restructuring programme. Full-year 2020 Group free cash outflow was in line with previous guidance, and in-year cash cost savings of more than £1 billion were achieved from our mitigating actions. Year-end liquidity was approximately £9 billion, at the upper end of the previously guided range.
 
Continued progress on vaccination programmes is encouraging for the medium-term recovery of air traffic and economic activity. In the near-term, however, more contagious variants of the virus are creating additional uncertainty. Enhanced restrictions are delaying the recovery of long-haul travel over the coming months compared to our prior expectations, placing further financial pressure on our customers and the wider aviation industry, all of which are impacting our own cash flows in 2021.”
 
 
 
 
 

For most of you reading this a CDO will look like something out a science fiction novel. You will wonder if it is the name of the alien that come to take over and conquer earth. Unfortunately it is something even more nefarious, a CDO or collatorized debt obligation is a basket of mortgage backed securitites with varying degrees of risk attached to it. The concerning aspect is these are the very securities that helped to cause the mortgage crisis and financial meltdown in 2007 and 2008. Einstein says the definition of insanity is doing the same thing over and over and expecting different results. Of course we would ignore the meltdown and go back to business as usual.

Even more concerning is the fact that they have been renamed as a bespoke tranche opportunity. The persons selling these products know that they are inherantly risky and have questionable investment value so it is smart sales to change the name and avoid the ugly reality of this product's risk. Are heading for another financial crisis? Let me know in the comments below.

We know acannabis or marijuana related businesses are passionate about what medical or industrial cannabis can do for people. Yet you don't know much about computers or you want a sounding board or strategic advisor for business decisions. Although this is probably biased you should talk to us. Wibbets Inc shares your passion and your desire to help people while also sharing over a decade of business and technology knowledge. Don't wait for a problem, hire the solution today and let us help guide to your vision faster.

On today's episode of Business Rockstar Podcast:

• The 4 laws of marketing
• How to setup your business legal structure
• ​Call for guests/ guest wanted
• ​How To Get Started on LinkedIn​

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​Congratulations your business has gone cash flow positive but how will you manage this capital and do you have a plan where it is going?

Capital is used effectively can be a great business growth driver. Here are some of the most effective ways for measuring capital allocation as well as some ideas for capital application.

Return on equity: Acronym ROE this is best known as the return of shareholder equity as a positive form of asset acquisition.

Return On Investment: ROI  is the positive return of investment capital put into asset acquisition

Free Cash Flow: FCF is cash flow from operations after taxes and expenses

How can free cash flow be used?

Marketing: This can be as simple as strategic growth or additional branding

Asset Acquisition: Distressed assets can be a great growth driver in the strategic acquisition of capital

How are you allocating your cash flow? Has your business gone free cash flow positive?
Let me know in the comments below.

  For any kind of business to be successful, it requires good planning, effort, time and passion. Starting a business can be tricky. However, if you have the right attitude and plan of attack, everything else will work out well. The question is: how do you know where to start? Here are some small business startup tips that can help you become a successful business person in a short period of time.
 
Gather Up Customers
 
When starting a business, one of the biggest challenges you will face is finding customers. A business cannot survive without them. Do not wait for the customer to find you, make contacts and start giving away your products. Often, new business owners seem almost shy about talking about their new business. Don't feel like you have to do the “hard sell”. Just care about people and show them that you care. Really go out of your way to show people your integrity and desire to make sure that your product or service solves their problem.
 
Write a Business Plan and Stick To It
 
A business cannot be successful unless you have a plan in place on how you are going to start and run it. Create a solid business plan including financial information and establishment of a market strategy. A business plan is important because it allows you to experiment with the strategy for your business on a paper. It also keeps you more accountable and will allow you to look back in a few weeks or months to see if you are on track.
 
Do Proper Research
 
It is important for you to know what you are getting into. You can't be successful by jumping into a business without having  any idea on how it is done. It is a good idea to become an expert first on your industry, products and services before starting a small business. Also, research your competition to see how to best position your business to compete with them. Find holes in your niche and fill them.
 
Do What You Love
 
It is Important to do what you love and enjoy because starting a business needs a lot of time and dedication. Being involved in something you love on daily basis you will be able to overcome the many challenges that arise in businesses. Trying to do a business you despise will only make you miserable in the long run.
 
Start Slowly and Work Methodically
 
A small business owner should move slowly. Through this, you are able to control growth and focus on what is important. Don't rush decisions as they form the foundation for your whole business.
 
These small business startup tips are just the beginning. You must review them and follow up on these ideas on a regular basis.

   

The running joke is you start with 2 million and although having an inheritance makes this much easier it can be done regardless of your circumstances. With that being said I take issue with the pie in the sky argument that where you start in life does not provide an economic advantage. What do Mark Zuckerberg,  and Biz Stone have in common? Neither grew up in poverty. If you can afford to go to an elite university in the top 10 you have a distinct advantage over those with less resources. This backed by countless studies and a pile of data does this mean you just give up if you grow up in extreme poverty? Of course not, rags to riches stories do indeed happen. With that being said what is your best way to become wealthy starting from scratch?
1. Save and start early. This is the easiest one to attain by smartly saving and investing as early as possible.
2. Collect real estate. Have you ever seen Monopoly? The concept is the same in real life if you collect enough real estate and generate enough cash flow wealth can be attained.
3. Start a successful business. Business ownership is one the most common forms of wealth building.
 
Are you building an empire? Let us know your thoughts in the comments below.