European Gas Falls Further Ahead of Zelenskiy-Trump Meeting
Benchmark futures extended their drop after the market plunged last week in anticipation of Trump's meeting with Russian counterpart Vladimir Putin. An agreement to end the war — however steep the possible concessions for Ukraine would be — could ease global supplies if more Russian energy eventually comes to the market.
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Business Wire
a few seconds ago
- Business Wire
Best's Market Segment Report: A Two-Way Street for Reinsurance Diversification in Asia
HONG KONG--(BUSINESS WIRE)--Asia's reinsurers are actively expanding to mature overseas markets as part of a move to diversity and be more agile with underwriting cycle management, according to a new report from AM Best. The Best's Market Segment Report, 'Asia in Focus: A Two-Way Street for Reinsurance Diversification,' is part of AM Best's overall look at the global reinsurance industry ahead of the Rendez-Vous de Septembre in Monte Carlo. Other reinsurance-related reports, including AM Best's ranking of top global reinsurance groups and in-depth looks at the insurance-linked securities, Lloyd's, life/annuity, health and regional reinsurance markets, will be available during August and September. AM Best views the move to diversity as credit positive. The report also notes that the majority of reinsurers within AM Best's Asia Reinsurance Composite posted higher levels of net income in 2024, with China's reinsurers experiencing the most notable gains. Over the past decade, the major European reinsurers have identified the Asia-Pacific region as a key source for diversification and growth. 'Asia-Pacific reinsurers are following a similar strategy, significantly expanding abroad,' said Christie Lee, senior director, AM Best. 'With economic momentum slowing in China, and mature markets like Japan and South Korea facing demographic and economic headwinds, North Asian major reinsurers have increasingly turned to international markets to sustain growth and diversify risk.' Among some of the report's other highlights: The composite's weighted average return on equity ratio improved to 11.3% for 2024, supported by stronger underwriting results and higher investment income, thus extending the improving trend from 2023. Reinsurers based in Singapore and throughout South/Southeast Asia reported strong earnings for 2024 that were broadly flat year-on-year, but still near historic highs. Reinsurance capacity rebuilds occurred amid pricing adequacy, leading to increased competition and treaty oversubscription. In Japan, April renewal revenue was reduced owing to increased retention and rate reductions; this may further fuel Asia-Pacific 2026 January renewal softening. To access the full copy of this market segment report, please visit For global reinsurance reports ahead of Rendez-Vous de Septembre, as well as video coverage of the event, please visit AM Best's Reinsurance Information center. Lastly, AM Best will host its annual reinsurance market briefing at Rendez-Vous de Septembre on 7 September 2025, at 10:15 a.m. (CEST) in Monte Carlo. For more information, please visit
Time Business News
28 minutes ago
- Time Business News
Step-by-Step Guide to Successful Company Formation in Europe
Expanding into Europe is one of the most effective ways for businesses to scale globally. Europe offers access to a unified market, robust legal frameworks, and unmatched credibility in international trade. Whether you're a startup, SME, or multinational, establishing a European entity can open new growth opportunities. This guide walks you through the step-by-step process of company formation in Europe, ensuring a smooth and compliant expansion. Europe has long been a magnet for businesses due to its stability, diversity, and opportunities. Here's why: Access to the Single Market : Reach over 450 million consumers with free trade within the EU. : Reach over 450 million consumers with free trade within the EU. Strong Legal & Regulatory Frameworks : Transparent systems that attract investors. : Transparent systems that attract investors. Tax Incentives : Countries like Ireland and the Netherlands offer favorable regimes. : Countries like Ireland and the Netherlands offer favorable regimes. Global Credibility : A European business presence boosts your reputation worldwide. : A European business presence boosts your reputation worldwide. The first decision is selecting the appropriate legal structure: Limited Liability Company (LLC) – Most popular for SMEs. – Most popular for SMEs. Public Limited Company (PLC) – Ideal for large businesses planning to raise capital. – Ideal for large businesses planning to raise capital. Subsidiary – Independent legal entity of a parent company (Learn more about Subsidiary setup). – Independent legal entity of a parent company (Learn more about Subsidiary setup). Branch – An extension of a parent company. Each option has unique tax, compliance, and liability implications, so careful consideration is essential. Your choice of country will impact taxes, reporting requirements, and business environment. Popular jurisdictions include: Germany : Strong manufacturing and industrial hub. : Strong manufacturing and industrial hub. Netherlands : Tax-friendly, innovation-driven economy. : Tax-friendly, innovation-driven economy. Ireland : Tech and financial services hotspot. : Tech and financial services hotspot. Malta & Cyprus: Attractive for SMEs with lower costs. Consider legal frameworks, market access, and the ease of doing business before deciding. Conduct a name search to ensure uniqueness (EUIPO database). to ensure uniqueness (EUIPO database). Draft core documents like the Articles of Association and Memorandum of Association . and . Some countries require notarization before submission. Confirm minimum directors/shareholders required in your chosen country. Check residency requirements (some countries mandate at least one local director). Determine share capital allocation and ownership structure. Submit your application to the national business registrar (e.g., Companies House in the UK, Handelsregister in Germany). (e.g., Companies House in the UK, Handelsregister in Germany). Register for taxes and VAT where applicable. where applicable. Obtain relevant business licenses or sector-specific approvals. Opening a business bank account is crucial for operations, but often challenging for non-residents. Required documents: Incorporation certificate, shareholder details, and proof of address. Some European countries allow digital banking options, simplifying the process. Professional services can support with fast-track bank account opening. VAT is a cornerstone of European business. Requirements include: VAT registration (mandatory if turnover crosses the threshold). (mandatory if turnover crosses the threshold). Filing accurate VAT returns within deadlines. Ensuring compliance with cross-border VAT rules. Maintain proper bookkeeping and payroll records . . File annual returns and comply with audits (if required). Larger companies may need Internal Audit & Assurance to maintain governance standards. Outsourcing to professional accountants ensures efficiency and compliance. Despite opportunities, businesses face challenges such as: Language & cultural differences . . Complex bureaucracy in certain jurisdictions. in certain jurisdictions. Delays in documentation and approvals . . Bank account opening restrictions for foreign owners. Partnering with a company formation specialist simplifies the entire process. Services include: Company incorporation and registration. Subsidiary & Branch setup. VAT Consultancy & compliance management. Business bank account opening support. With experts by your side, you avoid costly delays and ensure compliance from day one. Setting up a company in Europe unlocks vast opportunities for global expansion. From choosing the right structure to ensuring VAT compliance, each step is crucial for long-term success. By following this guide, businesses can expand with confidence while staying compliant. If you're ready to expand your business, explore our tailored services for European Company Formation and take the first step toward global growth. TIME BUSINESS NEWS
Yahoo
29 minutes ago
- Yahoo
Texas' Republican-controlled House approves new maps to create more winnable GOP congressional seats
AUSTIN, Texas — The Texas House on Wednesday approved redrawn congressional maps that would give Republicans a bigger edge in 2026, muscling through a partisan gerrymander that launched weeks of protests by Democrats and a widening national battle over redistricting. The approval came at the urging of President Donald Trump, who pushed for the extraordinary mid-decade revision of congressional maps to give his party a better chance at holding onto the U.S. House of Representatives in the 2026 midterm elections. The maps need to be approved by the GOP-controlled state Senate and signed by Republican Gov. Greg Abbott before they become official. But the Texas House vote had presented the best chance for Democrats to derail the redraw. Democratic legislators delayed the vote by two weeks by fleeing Texas earlier this month in protest, and they were assigned round-the-clock police monitoring upon their return to ensure they attended Wednesday's session. The approval of the Texas maps on an 88-52 party-line vote is likely to prompt California's Democratic-controlled state Legislature this week to approve of a new House map creating five new Democratic-leaning districts. But the California map would require voter approval in November. Democrats have also vowed to challenge the new Texas map in court and complained that Republicans made the political power move before passing legislation responding to deadly floods that swept the state last month. Texas maps openly made to help GOP Texas Republicans openly said they were acting in their party's interest. State Rep. Todd Hunter, who wrote the legislation formally creating the new map, noted that the U.S. Supreme Court has allowed politicians to redraw districts for nakedly partisan purposes. 'The underlying goal of this plan is straight forward: improve Republican political performance,' Hunter, a Republican, said on the floor. After nearly eight hours of debate, Hunter took the floor again to sum up the entire dispute as nothing more than a partisan fight. 'What's the difference, to the whole world listening? Republicans like it, and Democrats do not.' Democrats said the disagreement was about more than partisanship. 'In a democracy, people choose their representatives,' State Rep. Chris Turner said. 'This bill flips that on its head and lets politicians in Washington, D.C., choose their voters.' State Rep. John H. Bucy blamed the president. 'This is Donald Trump's map,' Bucy said. 'It clearly and deliberately manufactures five more Republican seats in Congress because Trump himself knows that the voters are rejecting his agenda.' Redistricting becomes tool nationwide in battle for US House The Republican power play has already triggered a national tit-for-tat battle as Democratic state lawmakers prepared to gather in California on Thursday to revise that state's map to create five new Democratic seats. 'This is a new Democratic Party, this is a new day, this is new energy out there all across this country,' California's Democratic Gov. Gavin Newsom said on a call with reporters on Wednesday. 'And we're going to fight fire with fire.' A new California map would need to be approved by voters in a special election in November because that state normally operates with a nonpartisan commission drawing the map to avoid the very sort of political brawl that is playing out. Newsom himself backed the 2008 ballot measure to create that process, as did former President Barack Obama. But in a sign of Democrats' stiffening resolve, Obama Tuesday night backed Newsom's bid to redraw the California map, saying it was a necessary step to stave off the GOP's Texas move. 'I think that approach is a smart, measured approach,' Obama said during a fundraiser for the Democratic Party's main redistricting arm. The incumbent president's party usually loses seats in the midterm election, and the GOP currently controls the House of Representatives by a mere three votes. Trump is going beyond Texas in his push to remake the map. He's pushed Republican leaders in conservative states like Indiana and Missouri to also try to create new Republican seats. Ohio Republicans were already revising their map before Texas moved. Democrats, meanwhile, are mulling reopening Maryland's and New York's maps as well. However, more Democratic-run states have commission systems like California's or other redistricting limits than Republican ones do, leaving the GOP with a freer hand to swiftly redraw maps. New York, for example, can't draw new maps until 2028, and even then, only with voter approval. Texas Democrats decry the new maps In Texas, there was little that outnumbered Democrats could do other than fume and threaten a lawsuit to block the map. Because the Supreme Court has blessed purely partisan gerrymandering, the only way opponents can stop the new Texas map would be by arguing it violates the Voting Rights Act requirement to keep minority communities together so they can select representatives of their choice. Democrats noted that, in every decade since the 1970s, courts have found that Texas' legislature did violate the Voting Rights Act in redistricting, and that civil rights groups had an active lawsuit making similar allegations against the 2021 map that Republicans drew up. Republicans contend the new map creates more new majority-minority seats than the previous one. Democrats and some civil rights groups have countered that the GOP does that through mainly a numbers game that leads to halving the number of the state's House seats that will be represented by a Black representative. State Rep. Ron Reynolds noted the country just marked the 60th anniversary of the Voting Rights Act's passage and warned GOP members about how they'd be remembered if they voted for what he called 'this racial gerrymander.' 'Just like the people who were on the wrong side of history in 1965, history will be looking at the people who made the decisions in the body this day,' Reynolds, a Democrat, said. Republicans hit back at criticism Republicans spent far less time talking on Wednesday, content to let their numbers do the talking in the lopsided vote. As the day dragged on, a handful hit back against Democratic complaints. 'You call my voters racist, you call my party racist and yet we're expected to follow the rules,' said State Rep. Katrina Pierson, a former Trump spokesperson. 'There are Black and Hispanic and Asian Republicans in this chamber who were elected just like you.' House Republicans' frustration at the Democrats' flight and ability to delay the vote was palpable. The GOP used a parliamentary maneuver to take a second and final vote on the map so it wouldn't have to reconvene for one more vote after Senate approval. House Speaker Dustin Burrows announced as debate started that doors to the chamber were locked and any member leaving was required to have a permission slip. The doors were only unlocked after final passage more than eight hours later. One Democrat who refused the 24-hour police monitoring, State Rep. Nicole Collier, had been confined to the House floor since Monday night. Some Democratic state lawmakers joined Collier Tuesday night for what Rep. Cassandra Garcia Hernandez dubbed 'a sleepover for democracy.' Republicans issued civil arrest warrants to bring the Democrats back after they left the state Aug. 3, and Republican Gov. Greg Abbott asked the state Supreme Court to oust several Democrats from office. The lawmakers also face a fine of $500 for every day they were absent.
