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Indian Americans Top In Income And Education

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               Indian Americans Top In Income And EducationWashington: Indian Americans are the highest-income and best-educated people in the United States and the third largest among Asian Americans who have surpassed Latinos as the fastest-growing racial group, according to a new survey.

Asians as a whole too are better educated and earn more than the general US population, according to the Pew Research Centre report on “The rose of Asian Americans” released Tuesday.
Indians, who now number 3.18 millions, the third largest after the Chinese (4 million) and the Filipinos (3.4 million) have a median household annual income of $88,000, much higher than for all Asians ($66,000) and all US households ($49,800).
Median annual personal earnings for Indian-American full-time, year-round workers are $65,000, significantly higher than for all Asian Americans ($48,000) as well as for all US adults ($40,000).
Seven-in-ten (70 percent) Indian Americans ages 25 and older, have obtained at least a bachelor’s degree; this is higher than the Asian-American share (49 percent) and much higher than the national share (28 percent), the survey found.
More than half of Indian Americans (57 percent) own a home, compared with 58 percent of Asian Americans overall and 65 percent of the US population overall.
The share of adult Indian Americans who live in poverty is 9 percent, lower than the rate for all Asian Americans (12 percent) as well as the national rate (13 percent).
Indian Americans stand out from most other US Asian groups in the personal importance they place on parenting; 78 percent of Indian Americans say being a good parent is one of the most important things to them personally.
Indian Americans are among the most likely to say that the strength of family ties is better in their country of origin (69 percent) than in the US (8 percent).
Compared with other US Asian groups, Indian Americans are the most likely to identify with the Democratic Party; 65 percent are Democrats or lean to the Democrats, 18 percent are Republican or lean to the Republicans, the Pew Survey found.
And 65 percent of Indian Americans approve of President Barack Obama’s job performance, while 22 percent disapprove.

Key Findings:
Indian Americans are more evenly spread out than other Asian Americans. About 24 percent of adult Indian Americans live in the West, compared with 47 percent of Asian Americans and 23 percent of the US population overall.
More than three-in-ten (31 percent) Indian Americans live in the Northeast, 29 percent live in the South, and the rest (17 percent) live in the Midwest.
Nearly nine-in-ten (87 percent) adult Indian Americans in the United States are foreign born, compared with about 74 percent of adult Asian Americans and 16 percent of the adult US population overall.
More than half of Indian-American adults are US citizens (56 percent), lower than the share among overall adult Asian population (70 percent) as well as the national share (91 percent).
More than three-quarters of Indian Americans (76 percent) speak English proficiently, compared with 63 percent of all Asian Americans and 90 percent of the US population overall.
The median age of adult Indian Americans is 37, lower than for adult Asian Americans (41) and the national median (45).
More than seven-in-ten (71 percent) adult Indian Americans are married, a share significantly higher than for all Asian Americans (59 percent) and for the nation (51 percent).
The share of unmarried mothers was much lower among Indian Americans (2.3 percent) than among all Asian Americans (15 percent) and the population overall (37 percent).

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Canadian business News

COVID-19: Canadian Entrepreneurs less pessimistic in April

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BC entrepreneurs less pessimistic in April

THE monthly Business Barometer index for British Columbia rose 8.2 points reaching an index of 46, according to the latest survey results from the Canadian Federation of Independent Business (CFIB). The low index continues to reflect the significant stress and challenges entrepreneurs face as the navigate the COVID-19 pandemic. As British ColumbIa looks ahead in developing an economic relaunch strategy, a small business lens is necessary to streamline the transition.

“The month’s barometer results indicate small business owners are feeling less pessimistic than they did in March,” said Muriel Protzer, Senior Policy Analyst, BC and the North, on Wednesday. “While ongoing financial support from government is helping keep many businesses afloat, those receiving the benefits cannot rely on them indefinitely and some continue to fall through the cracks.”

Additional survey data from CFIB finds that 83 per cent of businesses believe it is critical they make more sales soon to survive and become less reliant on government subsides (13 per cent disagree, 4 per cent unsure).

“The province of BC will play an integral part in transitioning businesses and workers off of government support programs as we look to reopen parts of the economy,” added Protzer. “Early preparation for a recovery phase is important to ensure businesses and residents are provided clear messaging on guidelines.”

Furthermore, 75 per cent of BC businesses are confident they could reopen quickly if current restrictions were lifted (19 per cent disagree, 6 per cent unsure). As the province looks to develop its economic recovery strategy, small business owners see the following initiatives to take priority:

  • Keeping taxes on small businesses at an acceptable level (88 per cent agree);
  • Reduce red tape affecting businesses (65 per cent agree);
  • Introducing campaigns encouraging consumers to shop at local businesses (62 per cent agree);
  • Continued financial help (57 per cent agree); and
  • Ensuring the availability of personal protective equipment and mass testing to help people feel safe (54 per cent agree).

Measured on a scale between 0 and 100, an index level above 50 means owners expecting their business’ performance to be stronger in the next year outnumber those expecting weaker performance. An index level of between 65 and 75 means that the economy is growing at its potential. This month, it is notable to see no provincial index above 50 points.

To view the full report, visit http://www.cfib.ca/barometer  

The provincial numbers for April were: Quebec (32.1), Newfoundland (32.1), New Brunswick (39.2), PEI (43.1), Manitoba (45.0), Nova Scotia (45.3), BC (46.0), Alberta (46.7), Saskatchewan (50.8), Ontario (52.6).

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Business

BC Hits Back At Alberta Over Wine Ban Saying It’s Unconstitutional Under Trade Rules

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VICTORIA – The B.C. government is challenging Alberta’s ban on B.C. wines through the Canadian Free Trade Agreement’s (CFTA) dispute settlement process.

According to a release, the province has notified the Alberta government that it is formally requesting consultations under the CFTA regarding Alberta’s embargo on the sale of B.C. wine, reported CBC News.

“Alberta’s actions threaten the livelihood of the families that have worked so hard to build B.C.’s world-class wine industry,” Minister of Jobs, Trade and Technology Bruce Ralston said in the release.

“These actions are inconsistent with Alberta’s obligations under the CFTA, and we will protect our reputation and the interests of British Columbians.”

At a press conference on Monday afternoon, Ralston said that Alberta’s ban is a “clear violation” of the CFTA.

“It’s our view that this dispute engages questions that should be considered by every jurisdiction in the federation,” he said. “We’re standing up for the B.C. wine business, B.C. industry, B.C. businesses and B.C. jobs.”

Ralston said the process allows for 120 days of consultation. If no decision is made, the matter then goes to a tribunal.

“I think that what’s good about this process is it’s a process of dialogue, it’s a process of engagement in discussion and consultation. So I’m optimistic that there will be fruitful discussion and there may be a resolution,” he said.

 

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Walmart In Talks To Buy Large Stake In Flipkart At $20-23 Billion Valuation

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NEW DELHI – American retailer Walmart Inc may end up taking a large stake in Flipkart Ltd at a price that could value India’s largest e-commerce firm between $20 billion and $23 billion, three people close to the development said. If it goes through the deal will pit Walmart against Amazon in India, mirroring the fight between the two companies in the US.

Walmart has expressed an interest in buying Flipkart Ltd but a buyout is unlikely to go through as a key Flipkart investor SoftBank Group is opposed to a sale, the three people added on condition of anonymity. “Softbank is not willing to cash out this early as they see themselves as a long term investor in Flipkart,” one of the three people mentioned above said.

The talks are in the early stages and the companies haven’t finalized the final details, the people said. Walmart is expected to invest fresh capital in Flipkart as well as buy shares from existing investors including Accel Partners and Naspers, they added.

Any deal is likely to make Walmart the largest shareholder in Flipkart, they said.

Walmart is not the only suitor pursuing Flipkart. Search giant Google has also offered to invest in the e-retailer at a valuation of $15-$16 billion, said a fourth person close to the development. Flipkart is also talking to other investors, this person said, without naming the investors.

Flipkart’s biggest backer and key board member Lee Fixel of Tiger Global was in Walmart’s headquarters last week helping put together the deal, this person said.

Flipkart and Walmart declined to comment. Google and Softbank did not respond to emails seeking comment.

The Economic Times newspaper reported on 31 January that Walmart is in talks to buy 15-20% of Flipkart.

In August 2017, Flipkart received a commitment of $1.4 billion in fresh capital from Japan’s Softbank Group valuing the company at about $14 billion.

Launched in 2007, Flipkart has thus far raised more than $6 billion.

The current valuation offered by Walmart includes Flipkart’s fashion businesses Myntra and Jabong, ebay India, as well as mobile payments firm PhonePe.

Walmart has eyed India’s retail sector for years but the existing foreign direct investment (FDI) policy does not allow the retailer to serve have a meaningful presence in the country.

It does operate in India’s B2B (business to business) retail and e-retail segment but has stayed away from direct retail. Walmart has stayed away from joining hands with any other Indian retailer since it’s partnership with Bharti Enterprises ended in 2013.

New potential investors are willing to value the company at a much higher price partly because Flipkart has shown that it is holding its own against Amazon, which has been unable to unseat its local rival as the country’s largest online retailer despite outspending Flipkart, say analysts. Additionally, Flipkart is seen as the one of the most attractive assets in the global Internet economy, benefitting from the long-term potential ascribed to India’s internet market by investors.

Walmart and Google held funding talks with Flipkart in late 2016 but those discussions didn’t lead to deals.

 

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