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Monthly Archives: March 2021
Andreas Kffner: I Believe Learning to Earn Money Passively is the Key to True Financial Freedom – Bangkok Post
Posted: March 31, 2021 at 6:38 am
Most people dream of attaining financial freedom that moment when one doesnt have to worry about how he will pay his bills, rent, and other basic expenses because all of them are provided for. Well, passive income can certainly make this dream a reality. The expert in the field, Andreas Kffner, sheds light on how passively earning money is the key to real financial freedom. Lets delve.
What is passive income? Kffner describes it in laymans terms. It is about having enough income pouring in so that one does not have to trade his time and efforts for money anymore. It is about getting something for nothing. Sounds like financial freedom? It is, in every sense! Kffner shares, Passive income may have that get rich quick appeal. However, in the end, it does involve work. Its just that you dont have to work actively and tirelessly.
Is passive income the key to true financial independence? Kffner answers, It is. Most people believe that they have to work until retirement or become rich to attain financial freedom. But getting rich does not necessarily mean you will be financially free.
On the other hand, passive income is what it exactly sounds like: Money pouring in whether one is actively doing the work or not.
Kffner shares that there are two main ways to earn money passively. One is through investments which create monthly, quarterly, or annual income by giving a fixed or standard return on investment. It comprises channels like government and corporate bonds, t-bills, rental property income, etc. The second is through businesses. This medium to earn passive money, Kffner explains, is more problematic for most individuals to wrap their heads around. It merely translates into passive business income.
Many people believe running a business means they need to be constantly working to clock any real success. But thats not true. Kffner encourages people to create a business with a view to potentially systemising it so that it can work even without them. This way, come rain or shine, cash will continue to flow whether one is putting in the hours or not. When this happens, thats real financial freedom.
Before signing off, Andreas Kffner recommends one of the best passive income businesses people can try their hand at is investing in real estate. Indeed, there are not many businesses that offer the freedom and compensation that real estate does.
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Sovos to Provide Automated Tax Information Reporting for Celsius Network in 2020 Tax Season and Beyond – WFMZ Allentown
Posted: at 6:38 am
BOSTON, March 30, 2021 /PRNewswire-PRWeb/ --Global tax software leader Sovos today announced that cryptocurrency P2P lending platform Celsius has selected Sovos for its 1099 crypto tax information reporting needs. U.S.-based investors, borrowers and lenders who traded on Celsius in 2020 will receive automated 1099 forms and filings in the upcoming tax season through the Sovos Tax Information Reporting solution.
Celsius' adoption of Sovos demonstrates the crypto platform's commitment to ensuring its customers remain compliant with evolving crypto regulations and avoid potential financial penalties from the Internal Revenue Service (IRS). In August, the IRS reaffirmed its commitment to ensure taxpayers file their cryptocurrency assets, moving the virtual currency question to page one of the standard 1040 form and clarifying crucial language about which cryptocurrency holdings and transactions must be disclosed to the agency.
"At Celsius, we believe that we should only do what is in the best interests of our customers, including protecting our users from unnecessary risk," said Daniel Leon, Chief Operating Officer, Celsius. "Sovos' bench of customers, including some of the largest traditional financial service institutions, and its team of regulatory experts will mitigate potential IRS penalties for our investors and prepare Celsius for any reporting changes in the future."
As a member of the Accounting Blockchain Coalition,The Chamber of Digital Commerce, and the Wall Street Blockchain Alliance, Sovos is at the forefront of changes and evolving guidance from the IRS around cryptocurrency reporting. As United States regulation of cryptocurrency develops, virtual asset service providers need reporting solutions in order to interpret the IRS' guidance and streamline investors' 1099 forms. Given the high volume of transactions on platforms like Celsius, it's imperative to use automated tax reporting software to reduce the burden on staff, eliminate human error and better track high-frequency crypto transactions.
"In tax season, crypto platforms need experienced partners to provide insight into IRS guidance and simplify an intimidating, complex process," said Paul Banker, general manager of Tax and Regulatory Reporting at Sovos. "Celsius users can feel confident knowing the most trusted source of 1099 reporting has their backs. Sovos takes the guesswork out of tax reporting."
Celsius joins other cryptocurrency exchange platforms such as Bitstamp, Paxos and BlockFi that also use Sovos for high-volume crypto tax reporting. As a trusted partner, Sovos is the largest private filer to the IRS of 10-Series tax forms and can quickly adapt to the compliance needs of the cryptocurrency market.
To learn more about Sovos' full reporting automation capabilities for cryptocurrency companies and exchanges, visit https://sovos.com/solutions/cryptocurrency-tax-software.
About Sovos
Sovos was built to solve the complexities of the digital transformation of tax, with complete, connected offerings for tax determination, continuous transaction control compliance, tax reporting and more. The company supports more than 12,000 customers, including half of the Fortune 500, that operate in over 70 countries. Its SaaS products and proprietary Sovos S1 Platform integrate with a wide variety of business applications and government compliance processes. Sovos has employees throughout the Americas and Europe, and is owned by Hg and TA Associates. For more information visit http://www.sovos.com and follow us on LinkedIn and Twitter.
About Celsius
Celsius helps hundreds of thousands of consumers worldwide to find the path towards financial independence through a high compounding reward income wallet and instant low-cost loans accessible via a web and mobile app. Built on the belief that financial services should only do what is in the best interests of the customers and community, Celsius is a blockchain-based fee-free platform where membership provides access to curated financial services that are not available through traditional financial institutions. For additional information please visit http://www.celsius.network
Celsius users are responsible for reporting and paying their taxes.
Media Contact
Christina Dela Cruz, ARPR on behalf of Sovos, 8553008209, christina@arpr.com
SOURCE Sovos
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View: It is time to take the leap from being homemakers to homeowners – CNBCTV18
Posted: at 6:38 am
Owning a home is an essential priority for each individual and an aspiration that one desires to achieve. In these crucial decisions of purchasing a home, women have long been recognized as key influencers and decision-makers.
With financial independence becoming pivotal, women are leveraging their home-making skills and venturing into home buying. Present-day women too aspire to own a home that ensures safety, security, well-being and evokes a sense of financial stability.
The key to building a sound financial portfolio starts by identifying the right assets that one should opt for investment. With the pandemic outbreak and a resultant change in the market landscape, real estate emerged as the most stable asset as compared to other asset classes.
Making it more lucrative, various government initiatives like stamp duty cut, the lowest home loan interest rate and unchanged repo rate have considerably boosted the sector. Understanding the long-term benefits of real estate and the pandemic re-instating the importance of home, women have come to the forefront as homebuyers.
A survey by ANAROCK Property Consultants states that 62 percent of women picked real estate as the preferred investment asset class compared to the stock market, fixed deposits, and gold.
Further giving an impetus, the Maharashtra government on March 8, 2021, announced a 1 percent concession on stamp duty over the current rates. According to the announcement, the government will grant a reduction in stamp duty if the transfer of property or registration of sale deed is in a woman's name.
In a time when women have started building assets on their own, this step comes in as the desired push to ensure their financial independence. A stamp duty cut, especially for women, will encourage many fence-sitters and make them confident enough to consider home buying.
Honing the art of safeguarding the entire familys well-being, home-buying decisions of women are largely influenced by safety, security, and accessibility aspects. Women homebuyers are portraying an inclination towards integrated developments with a community living experience that assures the overall well-being of the family.
For first-time women homebuyers, ready-to-move-in properties serve as the perfect solution that offers a factor of convenience, the backing of 'what you see is what you get and flexible payment plans, making it easier for them to consider this investment. Known for their well-thought decisions, the same survey by ANAROCK Property Consultants even mentions that 70 percent of women respondents consider the current time as ideal for buying a home.
With the changing times, women today look forward to educating themselves on financial inclusion, financial equality, and financial literacy. Through this favorable market scenario and the ongoing demand in the sector, real estate will only appreciate. This will, in turn, drive the nation's economic growth and ensure capital gains for every investor.
Modern-day women represent influential desirability to become financially independent and take decisions on their credibility and understanding. The housing sector being ideal, it is certainly the perfect time for women to take the leap from being homemakers to bread earners and now, proud homeowners.
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View: It is time to take the leap from being homemakers to homeowners - CNBCTV18
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Five tips to find your way back to financial freedom – The Standard
Posted: at 6:38 am
You don't have to be rich to achieve financial freedom (Image: Shutterstock)
Before you can start your journey to financial freedom, you must want to take ownership. You must recognize something is wrong and be willing to take the necessary steps to limp out of that piling debt.
The dream for many of us is to have enough cash stashed away and still afford the type of lifestyle we want. The reality though is many of us are failing at this.
Financial freedom can be described in many ways depending on who the expert is. To round it up, it is practically the ability of having enough money to take risks, spend and do whatever you want without having to worry about your bank balance.
Your money stays put even during a disaster or unexpected emergency. And who wouldnt want that? I know I do. It may sound like a stretch but this is something many people are achieving and you can too with these tips:
You cant work with what you dont have and that is why you need to do an audit of how much money you have.
List down how much debt you have like: borrowings from family and other defaulted payments that one can easily forget. No matter how much the amount totals to, do not be discouraged. The reason you are doing this is to make amends.
Next, list down your income all the way from dividends, profits and your salary. Compare the two and see how much debt youre in and work on finding ways to pay them off.
At times all you need is to hire the services of an expert. It may seem like an unnecessary cost especially if finances are tight but think of it as an investment that will pay off.
A financial advisor will dive deep into your money revealing gray areas that need to be fixed and how to convert your cash to tangible assets or investments the right way without losing money.
He or she will enlighten you on good financial practices and how to make decisions with the money you have. Whether it is to invest more or pay off debt. Their advice will be invaluable and save you tons of time trying to do it yourself.First do an audit of how much you really have (Image: Shutterstock)
You need to work on the mindset that money will never be enough and therefore you must borrow to sustain your needs.
Contrary to what you may think, financial independence is not only possible by those who have tons of money. Middle class people have paved way for themselves to reach financial freedom by making the right choices.
This means cutting down on your spending and living within your means. Save more and spend less to achieve this lifestyle we all envy.
The fastest way to get back to financial freedom is clearing all loans no matter how small or big. You must break free from this never-ending cycle that continues to suck your money down the drain.
Create a pay plan and list those pressing debts that need to be cleared first and those that can wait as you get your finances in order. This way, you will be able to have a good nights sleep and know where you stand financially and how long achieving your freedom will take as you work towards it.
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If what you are already doing is not working then you should consider getting another job or a side hustle. How much you make at the end of the week or month plays a huge role on achieving financial freedom. With the right paying job or profits from a business will make paying debts a whole lot easier.
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Five tips to find your way back to financial freedom - The Standard
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ABIONYX Announces the Signing of a Strategic Partnership With GTP Biologics (Fareva Group) and V-Nano (VBI Therapeutics Group) for the Bioproduction…
Posted: at 6:38 am
TOULOUSE, France--(BUSINESS WIRE)--Regulatory News:
ABIONYX Pharma (FR0012616852 ABNX PEA PME eligible), a new generation biotech company dedicated to the discovery and development of innovative therapies for patients, today announces the conclusion of a strategic partnership with GTP Biologics (Fareva Group) and V-Nano (VBI Therapeutics Group), specialized in the production and formulation of biological nanomedicines.
CER-001 showed positive results in the treatment of an ultrarare kidney disease in a French patient, delaying the need for dialysis and diminishing corneal lipid deposits resulting in improved vision, as reported in a case study recently published in a world-renowned medical journal. Clinical development of CER-001 in renal disease continues in a phase 2a study to prevent acute kidney injury in septic patients, currently underway in Italy. In view of these advances, ABIONYX Pharma has decided to relaunch and reengineer the biomanufacturing of its recombinant bio-HDL mimetic.
GTP Biologics, based in Saint-Julien-en-Genevois, and V-Nano, based in Toulouse, are French companies specializing in bioproduction and nanoformulation. They have the necessary infrastructure and expertise to bioengineer and re-launch the biomanufacture of CER-001. Indeed, CER-001, which is a cutting-edge biomedicine, requires an innovative technological approach to ensure its successful complex bioproduction with high added value in France. GTP Biologics is a major site for biomanufacturing in Saint-Julien-en-Genevois. V-Nano is also a partner of CEA Tech Occitanie in the framework of a technology transfer in nano-characterisation for the opening of a joint laboratory which works in particular on the development of nano-formulations and will have a pilot unit upstream of the production site.
Alain Sainsot, Chief Executive Officer at GTP Biologics/Group Fareva and President of V-Nano/Group VBI Therapeutics, member of CSF-Sant and contributor to the latest report in the National Bio-Production Strategy in France, declares: We are very pleased to make a strategic contribution to the development of ABIONYX Pharma's CER-001 biomedical product, alongside Fareva. It is a major challenge for our industry to be able to produce the most advanced biomedicines in France, in addition to more mature products such as vaccines and monoclonal antibodies. In the case of ABIONYX, the aim is to produce this new biomedicine as quickly as possible to meet the needs of patients without existing treatment and to extend the field of medical innovations that can be carried by this bio-HDL, both in the kidney and in ophthalmology.
CER-001 is a complex engineered cell biology-based biomolecule with a diverse mechanism of action similar to natural HDL and therefore has considerable potential. CER-001 as a recombinant bio-HDL mimetic has considerable value in that it has proven to be safe and very well tolerated at high doses of 10-30 mg/kg/week in various indicated studies to date.
Cyrille Tupin, Managing Director of ABIONYX Pharma concludes: We would like to thank Alain Sainsot, his team and shareholders for their strategic interest and support for the re-launch of the bioproduction of CER-001 in this next generation biomanufacturing facility in France. We are also delighted with the support of Fareva, through its strategic partnership with VBI Therapeutics in the context of the Saint-Julien-en-Genevois activities. The availability of new batches of bio-HDL is highly anticipated in the context of new ATUs in ultra-rare renal diseases or new indications in nephrology and ophthalmology, in order to improve the prognosis of rare and orphan diseases or other diseases for which there are currently no treatments.
About Fareva / GTP BiologicsFareva is a family-owned company with a strategy based on financial independence and is one of the world's leading suppliers of pharmaceuticals, cosmetics, make-up and industrial household products. Fareva is located in 12 countries with 42 manufacturing plants, more than 12,500 employees and a turnover of EUR 1.8 billion. The subsidiary GTP Biologics, which came from the Pierre-Fabre group, was integrated into the Fareva group in December 2020.
About V-NanoFounded in May 2018 by Alain Sainsot, former industrial director of the pharmaceutical group Pierre Fabre and ex-president of Amatsigroup, V-Nano specialises in the market for the development of biomedicines, in particular injectable nano-emulsions, with the construction, in Toulouse (Haute-Garonne), of a unit specialising in the production of clinical batches for third parties.
About ABIONYX PharmaABIONYX Pharma is a new generation biotech company dedicated to the discovery and development of innovative therapies for patients. The biotech assets inherited from CERENIS Therapeutics constitute a rich portfolio of valuable programs for the treatment of metabolic diseases as well as with a HDL targeted drug delivery platform.
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Deloitte Collaborates With Automation Anywhere to Increase Acceleration of Cloud Intelligent Automation – PRNewswire
Posted: at 6:37 am
NEW YORK, March 30, 2021 /PRNewswire/ --Deloitte announced a collaboration today with Automation Anywhere to drive further adoption of cloud deployments on Automation 360, the first cloud-native, AI-powered robotic process automation (RPA) platform. Deloitte will combine its leading capabilities in cloud infrastructure and automation to provide a first-of-its-kind solution that enables a successful migration of client automations to the cloud, helping organizations accelerate the rate and delivery of business performance while effectively limiting costs. Mutual customers, both first-time RPA and existing Automation Anywhere users, will experience a smooth transition to the cloud platform with Deloitte's migration as a service capabilities.
"The need for digital transformation is more prevalent than ever as organizations continue to navigate the effects of the pandemic and pivot to cloud-based solutions that can seamlessly integrate with their existing systems," said Douglas Williams, managing director, Deloitte Consulting LLP. "Our solutions are designed for Automation 360 to help customers through the migration process to get the most value out of their RPA investment with minimal disruption, all while finding efficiencies and reducing investment costs."
According to research from Deloitte, "Automation with Intelligence; Pursuing Organization-wide Reimagination," the deployment rate of automation maturity has significantly advanced with 68% of business leaders using automation to respond to the impact of the COVID-19 pandemic and one-third accelerating their investment in cloud-hosted automations. Given Automation 360 is the first cloud-native intelligent automation platform, enterprise organizations have a new opportunity to increase scalability, deploy faster and reduce overall costs at a time when they need it most.
"We've seen a significant increase inthedemand for enterprise-wide cloud adoption amidst the pandemic, as well asanincreased role that RPA software has played in responding to industryneedsto become more business resilient and efficient," said Chris Riley, chief revenue officer at Automation Anywhere. "We are thrilled to team with Deloitte as they have a strongglobalpractice and are trusted advisors to some of the world's most respected brands. This collaboration will help enable joint customers to execute intelligent automation in the cloud, expedite productivity gains, and increase time to value."
As a Platinum Partner for Automation Anywhere, Deloitte has a proven track record of success in leveraging Automation Anywhere's intelligent automation solutions across a variety of customer objectives and opportunities across the globe. Deloitte provides support, training, certification and managed services for RPA to customers around the world delivering large-scale transformation projects across the automation life cycle.
For more information about Deloitte's rapid migration and the alliance relationship with Automation Anywhere, visit http://www.Deloitte.com.
About DeloitteDeloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including nearly 90% of the Fortune 500 and more than 7,000 private companies.Our people come togetherfor the greater good and work across the industry sectors that drive and shape today's marketplace delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthier society. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them.Building on more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte's more than 330,000 people worldwide connect for impact at http://www.deloitte.com.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as "Deloitte Global") does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see http://www.deloitte.com/aboutto learn more about our global network of member firms.
SOURCE Deloitte Consulting LLP
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Dymax and Intrepid Automation Combine Efforts to Enhance Automated 3D Printing and Manufacturing – Yahoo Finance
Posted: at 6:37 am
Bloomberg
(Bloomberg) -- Axel Kicillof relished the role he played in the Argentine government years ago: the brash left-wing economy minister who clashed at every opportunity with foreign investors. They hated him and he loved it.Today, Kicillof is once again locked in a bruising battle with financiers in New York and London. This time its as governor of Buenos Aires, which, along with nearly a dozen other provinces, called for debt restructuring talks last year as the federal government began negotiations of its own with creditors. But unlike the others, Buenos Aires has yet to emerge from default. In fact, 10 months after Kicillof halted payments on $7.1 billion worth of bonds, barely any progress has been made in talks.With the bonds now languishing at just 35 cents on the dollar in secondary markets and not a penny of interest income flowing their way, creditors are growing tired of the stalling and the disinterest displayed by Kicillofs aides. Last week, funds from the Buenos Aires Ad Hoc Bondholder Group sued the province in U.S. court for unpaid principal and interest.This gambit, analysts say, may help jump-start the process by forcing the province to take a more active role in negotiations. But, they warn, theres another dynamic at play that threatens to only embolden Kicillof to further radicalize his hard-line approach. The federal government -- under the growing influence of Vice President Cristina Fernandez de Kirchner, a mentor to Kicillof -- is aggressively pushing for concessions to refinance a $45 billion failed program with the International Monetary Fund.The governments newly restructured sovereign bonds, like the defaulted Buenos Aires bonds, now trade below 40 cents on the dollar, a reflection of how badly the countrys economy and finances have been battered by the pandemic and lack of credibility.For Kicillof, this is political, said Diego Ferro, founder of M2M Capital in New York, a veteran debt investor who doesnt hold bonds of the province. Which means that unless he gets a deal consistent with what Argentina got, it will reflect poorly on him.And as August primaries and October mid-term elections get closer, politics will play an ever larger role in shaping all aspects of policy. Cutting a deal with the IMF or provincial bondholders isnt a priority, especially during a pandemic.Buenos Aires has extended the deadline on its debt proposal no fewer than 13 times. But last week, the province published details of a new one shown to New York-based hedge fund GoldenTree Asset Management, one of its largest creditors. It was swiftly rejected -- as was the counteroffer.The next day, the creditor group, including GoldenTree, submitted two legal claims against the province in the U.S District Court of New York seeking $366 million in unpaid interest and principal.Theres definitely more pressure with the litigation now ongoing, said Carlos de Sousa, an emerging market portfolio manager at Vontobel Asset Management in Zurich. Kicillof is quite ideologically driven and close to Cristina. And thus his lack of cooperation with creditors until recently.The provinces bonds due 2027 fell 0.3 cent to 37.7 cents on the dollar at 4:50 p.m. in Buenos Aires.Those who observed Kicillof as Economy Minister between 2013-2015 under then president Fernandez de Kirchner know that he doesnt quickly surrender in high profile conflicts with creditors. Back then he battled Paul Singers Elliott Management and other holdouts, insisting that Argentina couldnt comply with a ruling in their favor and eventually opted to default again with the presidents blessing.And while hes delegated negotiations this time around as governor to his provincial Economy Minister Pablo Lopez, hes very much involved.Read More: Buenos Aires Province Weighs Next Steps After Creditor LawsuitThe legal claims are only a strategy to pressure the government and the province will still have 60 days to respond, Lopez said in an interview last week. While Kicillof, 49, doesnt directly participate in conversations with bondholders, Lopez frequently discusses the debt restructuring process with him, he said.He is focused and interested, Lopez said. The debt negotiation is determined by the provincial government.The province is bigger than many countries and represents half of the debt from regional governments. Home to almost 18 million people and accounting for two-fifths of Argentinas GDP, its a critical political battleground in any election.Last week at an event, Fernandez de Kirchner, who hand-picked Alberto Fernandez as the presidential candidate in 2019, railed against the IMF and the terms being sought to renegotiate the largest credit agreement ever struck with the Washington-based lender. Bond prices fell.We cant pay because we dont have the money, she said, with Kicillof nodding in the background. While they spoke, Economy Minister Martin Guzman was wrapping up a trip to Washington after meeting IMF officials.After Fernandez took power in December 2019, Buenos Aires Province was the first to default on its debt payments in May. Days later, the federal government followed suit, along with several other provinces over the course of the next months.Since then, the government and eight provinces have settled with creditors. Deals ranged from about 55 cents on the dollar for the government while many regional authorities agreed to much smaller discounts, between 83.4 and 96.3 cents considering a 10% exit yield. While a few small provinces also remain in talks, Buenos Aires, which offered to pay about 65 cents, is the last major holdout.As economy minister, Kicillof negotiated a settlement with Spains Repsol SA after the government seized its stake in oil producer YPF SA in 2012, agreeing to compensate the company with bonds. He also struck a deal with the Paris Club of creditors.Those events give some investors hope that hell eventually come around to an agreement. Still, his rhetoric remains combative. Speaking at an event on Friday, Kicillof called investors unsupportive and intransigent.Court claims arent going to lead to solutions to the root problems, he said. We remain open to dialogue to reach an agreement thats convenient to creditors and that the province can pay.Even after the lawsuit was filed, Kicillof has little financial incentive to reach a settlement soon or offer concessions to creditors. The province realistically has no chance of tapping international markets for fresh funding, so it has little to lose in dragging out talks. And if a court ruling were to go against it, the provinces lawyers could appeal the case several times, and that could stretch the saga into the next gubernatorial elections in 2023.I dont see a situation where Kicillof agrees to a deal thats better than what the sovereign agreed to, Ferro said.(Updates with bond move in 11th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.2021 Bloomberg L.P.
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Test automation tools: 8 trends and techniques to watch – TechBeacon
Posted: at 6:37 am
To realize the benefits of test automation,organizations have to take full advantage of smartertools, according to theThe World Quality Report 20202021.
Smart tools are those thatinclude more features based onartificial intelligence (AI)and machine learning (ML). These, along witha proliferation of JavaScript-based testing tools, more API testing, andmore emphasis on skills, are the trends to watch this year, experts say.
Here's what your organization needs to know about the state of test automation tools.
One of last year's predictionsthat'shappening now is the increased use of AIand MLin testing tools to make test automation easier, said Diego Lo Giudice, vice president and principal analyst at Forrester Research.
"The trend that everybody was expecting was that developers would take over testing. But developers don't really like testing. We can give them some testing to do, but the rest of the testing is done by other personas, such as the business testing persona."Diego Lo Giudice
However, while expectations of the benefits that AI and ML in testingcan bring to quality assurance remain high, and adoption is on the increase, there are few signs of significant general progress, as the World Quality Report noted:
"Partly, this is because relevant skill sets still aren't in place; and partly, the arrival of the COVID-19 pandemic has disrupted schedules, budgets, and plans.Nonetheless, enthusiasm hasn't diminished [and] organizations are putting AI high among their selection criteria for new QA solutions and tools."
The reason: Smart technologies will increase cost-efficiency, reduce the need for manual testing, shorten time to market, and help create and sustain continuous quality improvements, the report found.
Otherbenefits of AI-basedtest automationincludereducing test creation time, boosting test coverage, increasing resiliency of testing assets, and cutting down on test maintenance efforts, said Nick Mears, product marketing manager for functional testing at Micro Focus.
Additionally, new ML techniques are being applied to determine the scope of optimal automation tests; the goal is"to reduce the exponential growth in test scripts," according to the report.
Another new automation technique is the use of AI-based, self-healing scripts to automatically modify scripts during runtime, in case of object and page element changes, the report noted.
Although more tools are sporting AI capabilities, adoption has been limited to this point, said Malcolm Isaacs, a testing evangelist at Micro Focus. But that's about to change.
"We're at the point where I think we're going to take off. The tool set that we've had up until now has enabled a certain amount of AI-based automation. [But now] is kind of the inflection point where we can take it to the mainstreamit's now production-ready."Malcolm Isaacs
One of the most prominent trends in 2021 will be the increaseof JavaScript-based testing tools, such as Jest, Cypress, Puppeteer, and Playwright, said Nikolay Advolodkin, CEO and senior test automation engineer at Ultimate QA.
This is happeningbecause a lot of front-end web development is done with JavaScript. And when writing code in JavaScript, it is just mucheasier to alsotest that code in JavaScript, according to Advolodkin.
"All of this tooling that easily integrates with your software development practices just makes a very low barrier of entry, whether for developers or even testing individuals, who just enter and start testing the code."Nikolay Advolodkin
Another factor is the tight integration between application code and testing code, he said."You can do things like writing unit tests or component tests in JavaScript,Advolodkin said. "But then whenever you find testing gaps that you can't fulfill with either one of those strategies, you can start using stuff like system tests with Cypress, for example, which is just another extra tool inside of your JavaScript repository."
The use of Cypress, an end-to-end testing tool for browser-based apps,is growing in popularity because JavaScript has gained users, Advolodkin said.Another plus is Cypress' feature set. Among other features, the tooloffers browser automation,application programming interface (API) automation, and component testing for React web applications, he said.
"So it covers multiple layers of testing applications, as opposed to many other tools that kind of just focus on a single aspect."Nikolay Advolodkin
Tools like Selenium and Puppeteer areonly for browser-based front-end automation, so if you want to start doing API testing or component testing, now you have to pick up all their tools."Cypress has all of that," he said.
Since the majority of information sharing that occurs within Internet of Things (IoT) devices is via APIs, it's critical to test the APIs of IoT-enabled devices to ensure they're secure, saidAdvolodkin.
"As more of the world brings us devices onlineand we have smart thermostats, we have Alexa, we have smart light bulbs, TVs, and all of thatit becomes increasingly more important to test those things. And the way that we test them is using APInot browser-based tools, but API testing. So I think that's going to be huge."Nikolay Advolodkin
The QA community appears willing to consider using natural-language processing (NLP)-based automation tools. These provide benefits includingscriptless automation, model-based testing, the use of plain English statements to generate scripts, and a shallower learning curvethat allowsdifferent project stakeholders to contribute to automation efforts, as the The World Quality Report noted:
"Options such as self-healing capabilities are going to increase gradually, but there is no doubt that these are the future of automation. While the promises are big, we understand these automation tools aren't yet sufficiently mature."
Forrester'sLo Giudice said everybody talks about self-healing, but the reality is that it's not there yet.
"It's improving. There are some tools that do it better than others, but it's at a superficial level. It's nothing huge yet."Diego Lo Giudice
Although there are plenty of tools on the market, the trend is going to be less on tools and more on people just skilling themselves up because they want to be marketable, said Michael Fritzius, president of Arch DevOps.
"You're going to see more manual testers that want to get into automation. You're going to see more automation engineers that want to get into the architecture of automated testing solutions."Michael Fritzius
Rather than being the people developing the actual tests, they'll be overseeing and guiding teams about how to do it properly. "So they're going to try to do what they can to make it on their own," Fritzius said. "It's skilling yourself up to write software, mainly."
Adoption of commercial tools won't pick up until next year at the earliest, as a result of the investment involved, saidFritzius."It takes a lot of time and money."
Tools, on average, run at least$250,000. And then youhave to learn it and change the processes to integrate the tool into their system, he noted.
It's going takea while for companies to be willing to really risk that much moneyto improve theirprocesses,"knowing that it might take a while for us to see a result on that."
There will continue to be fragmentation in the test automation landscape throughout 2021 and likely into 2022, said Paul Grizzaffi, principal automation architect at Magenic.
Although there are different technologies,frameworks and stacks coming out, they are generallyattached to one browser or API.
"They need to be glued together by users. Or you have to go and get an additional framework or stack piece that would help bring all of that stuff together so that you can work with one technology, if you will, to do different types of automation."Paul Grizzaffi
Forrester's Lo Giudice said that companies prefer integrated platforms over best-of-breed testing tools.
Testing has many aspectsunit testing, functional testing, performance, load, security, integration testing, test data management, API testing,he said.
"Clients don't wantone tool for each, and they don't care about having a best of breed for each. They want an integrated platform because they're looking for a uniform, consistent experience going from one type of testing to another."Diego Lo Giudice
As with life in general, the COVID-19 pandemic has thrown a monkey wrench into the test automation landscape. As such, it's important for you to take these trends into consideration as you review your test automation tools and capabilities this year before investing time and money in anything new.
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The benefits of hyper-automation for banking – Finextra – Finextra
Posted: at 6:37 am
We know, we know.How many words can technologists add hyper too? But dont roll your eyes just yet.
Trust us, if you work in banking, hyper-automation will likely be the latest buzz word you hear in boardrooms (whether physical or remote) in 2021 and beyond.
Lets find out more!
The changing face of banking
Deloittesuggests that the post-pandemic bank will emerge a lot different to the one that went in. They forecast that banks will need to continue to focus on improving the digitisation of their operations, remain flexible to new business models and (most importantly) put customers at the heart of their digital strategy.
Day-to-day, customers have become much more accustomed to instant action, engagement and information from their interactions with brands and as such, trends like banking as a service (BaaS), the rapid proliferation of fintech solutions and regtech innovations, suggests that the time is right to consider the potential for hyper-automation.
However, If weve learned anything over the last year, its that humans still want to be well, human. As machines take over more roles in day-to-day operations, its critical banks keep people at the heart of their approach.
What is hyper-automation?
Coined byGartnerin 2019,hyper-automation is the full automation of the business processes and customer processes. It achieves this through an advanced ecosystem of operational and customer facing digital solutions that look to leverage the flexibility and scalability of modern IT infrastructure, which ultimately frees up staff to inject their creativity into delighting customers outside of said processes.
The automated business, combined with agile frameworks, provides opportunities for better-informed decision making, generated through a more holistic data picture throughout the organisation.Without getting too techy, Robotic Process Automation (RPA) is being enhanced and refined by technologies like artificial intelligence (AI), natural language processing (NLP), process mining, advanced analytics and more, to reduce costs, maintain accuracy and speed up processes.
Why its a fit for Banking
Banks who havent had the chance to start as a digitally native organisation have built up complex systems of legacy tools, which have been bolted onto an operational structure defined when they were a telephony or branch network bank.With new challengers flooding the market with cloud infrastructure and a mobile-first, digital proposition, the fight for market share has intensified. This is what makes automation such a compelling proposition, as any opportunity to slim down the operational costs will be welcomed to drive increased profitability.
From automating onboarding processes in lending to improving data quality and utility for better decision making, hyper-automation has the potential to augment workers ability, whilst reducing operational costs and human error.
The Benefits of hyper-automationIntegration
Productivity
Flexibility
Demonstrable ROI
What Makes It Hyper?
With your brain whizzing on the potential for these benefits in your business, you might now raise a valid question. We already have some automation in our business, whats the difference with hyper?
Tools working together
AdHoc vs Integrated
AI & ML
Narrow vs Large
Automation Use Cases for Banking
Lets look at a few ways automation can improve banking experiences:
Regulatory Reporting
Accentures 2016 compliance risk study found 73% of respondents thought RPA would be a key enabler for compliance in the next three years. Since then, automation has been deployed sporadically. However, the regulatory environment becomes more complex year-on-year, meaning standalone RPAs may become less useful. Complete automation, as advertised by hyper-automation, will require complex, multi-year implementation as well as culture phase shifts, but will be key to better risk and compliance.
Lending
Lending processes can still be slow and manual, even in 2021. There are a multitude of blockers from credit checks to employment verification that impacts turnaround times. Automation technologies can, with ease, extract or approve all the relevant loan data in seconds, validating customers from multiple sources.
For instance, mortgage processes sometimes take up to 50 days to approve. Automation, paired with emerging technology like blockchain, could combine to validate customer data from multiple sources automatically or reduce attrition from customers pulling applications due to minor errors on forms that caused delays.
Back-Office
As is usually the case, new technology is often deployed to customer-facing processes first to impress the market. However, back-end processes are ripe for automation possibilities. This is driven by the sheer volume of records and documents many banks continue to add to, even in the digital age.
On average retail banks have between 300-800 processes, all of which can be improved with business process management (BPM) platforms which can reduce human error or inefficiencies negatively impacting the customer experience. However, the key here is not to place a bandaid over something that is no longer fit for purpose.
Sales & Distribution
Retail branches of the future are due a makeover. Its reasoned a shift from contact centres to customer care platforms enhanced by intelligent routing provided by automation will occur. Similarly, embedding distribution on partner platforms through API and banking as a service (BaaS). All empowering frontline staff to harness their creativity and passion for serving customer needs.
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Digital Process Automation Market Key Factor Is Growing Demand for IT Resources, And Availability of Improved IT Systems – Rome News-Tribune
Posted: at 6:37 am
Pune, India, March 31, 2021 (Wiredrelease) Prudour Pvt. Ltd : The New Report Digital Process Automation Market posted through MarketResearch.Biz, covers the market panorama and its growth possibilities over the upcoming years. The report also offers leading players in this market. The research comprises in-depth insight of the worldwide share, size, and developments, in addition to the growth rate of the Digital Process Automation Market to estimate its development throughout the forecast period. Most importantly, the report in addition identifies the historical, current, and future developments which might be predicted to persuade the improvement ratio of the Digital Process Automation market. The research segments the market on the premise of component, business function, organization size, deployment type, industry vertical, and region. To provide extra readability concerning the Digital Process Automation industry, the report takes a more in-depth study the contemporary fame of different factors along with however now no longer confined to deliver chain management, area of interest markets, distribution channel, trade, deliver, supply and manufacturing functionality regionwise.
The Digital Process Automation market report has provided an evaluation of different factors influencing the markets ongoing rise. Drivers, restraints, and Digital Process Automation market developments are elaborated to apprehend their tremendous or terrible effects. This segment is aimed toward supplying readers with thorough facts approximately the capability scope of diverse programs and segments. These Digital Process Automation market estimates are primarily based totally on the present developments and ancient milestones.
*** NOTE:Our Free Complimentary Sample Report Offers a BriefSummary Of The Report, TOC,Company Profiles and Geographic Segmentation, List of Tables and Figures, and FutureEstimation ***
The top players International Business Machines Corporation, Newgen Software Technologies Limited, Infosys Limited, BP Logix Inc, Appian Corporation, TIBCO Software Inc, OpenText Corp., DST Systems Inc, Pegasystems Inc, Oracle Corporation, SourceCode Technology Holdings Inc (K2), Cognizant Technology Solutions are examined through the following points:
Business Segmentation Research and Study
SWOT Analysis and Porters Five Forces Evaluation
COVID 19 Impact Analysis on Latest Digital Process Automation Market Situation (Drivers, Restraints, Trends, Challenges and Opportunities)
Global Digital Process Automation market has been studied definitely to get higher insights into the businesses. Across the globe, various regions includes North America, Latin America, Asia-Pacific, Europe, and Africa were summarized withinside the report Digital Process Automation Market.
*** NOTE: MarketResearch.Biz crew are reading Covid19 updates and its effect at the increase of the Digital Process Automation market and wherein important we can take into account Covid-19 footmark for a higher evaluation of the market and industries. Contact us cogently for extra targeted facts.***
Digital Process Automation Market Segmentation:
Segmentation by Component: Solution, Services, Professional Services, Advisory Services, Implementation Services, Support Services, Managed Services. Segmentation by Business Function: Sales Process Automation, Supply Chain Automation, Claims Automation, Marketing Automation. Segmentation by Organization Size: Small and Medium-sized Enterprises (SMEs), Large enterprises. Segmentation by Deployment Type: On-premises, Cloud. Segmentation by Industry Vertical: Manufacturing, Retail Consumer Goods, BFSI, Telecom IT, Transport Logistics, Energy Utility, Media Entertainment, Healthcare, Others (include government and travel hospitality)
Global Digital Process Automation Market: Regional Analysis
The Digital Process Automation market research report studies the contribution of diverse areas withinside the market through information on their political, technological, social, environmental, and financial fame. Digital Process Automation market analysts have covered reports referring to each location, its manufacturers, and revenue. The areas studied withinside the market consist of North America, Europe, Asia Pacific, South and Central America, South Asia, the Middle and Africa, South Korea, and others. This segment is targeted at supporting the Digital Process Automation market reader examine the capability of every location for making sound investments.
The Digital Process Automation market objective examine are:
Digital Process Automation Overview Market Status and Future Forecast 2021 to 2031
Digital Process Automation Market report mentioned product developments, partnerships, mergers and acquisitions, RD tasks are mentioned
Digital Process Automation Market Details on Opportunities and Challenges, Restrictions and Risks, Market Drivers, Challenges.
General aggressive scenario, along with the principle market players, their growth targets, expansions, deals.
In-depth Description of Digital Process Automation Market Manufacturers, Sales, Revenue, Market Share, and Latest Developments for Key Players.
To examine and research the Digital Process Automation market through component, business function, organization size, deployment type, industry vertical, and region
The major questions replied withinside the report:
What are the principal elements that take this market to the top level?
What is the market growth and demand analysis?
What are the recent possibilities for the Digital Process Automation market withinside the coming period?
What are the principal benefits of the player?
What is the important thing to the Digital Process Automation market?
Section 1: Based on an executive synopsis of this report. And additionally, it consists of key developments of the Digital Process Automation market associated with products, applications, and different critical elements. It additionally affords an evaluation of the aggressive panorama and CAGR and market length of the Digital Process Automation market primarily based totally on manufacturing and revenue.
Section 2: Production and Consumption Through Region: It covers all nearby markets to which the research examine relates. Prices and key players similarly to manufacturing and intake in every nearby Digital Process Automation market are mentioned.
Section 3: Key Players: Here, the Digital Process Automation report throws mild on monetary ratios, pricing structure, manufacturing cost, gross profit, income volume, revenue, and gross margin of main and outstanding companies.
Section 4: Market Segments: This part of the report discusses product kind and alertness segments of the Digital Process Automation market primarily based totally on market share, CAGR, market size, and diverse different elements.
Section 5: Research Methodology: This segment discusses the research technique and technique used to put together the Digital Process Automation report. It covers reports triangulation, market breakdown, market length estimation, and research layout and/or programs.
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