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Should Foreign Investors Operate Through One Entity or Multiple Subsidiaries in Indonesia?

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Should Foreign Investors Operate Through One Entity or Multiple Subsidiaries in Indonesia?

Most foreign investors start with a single PT PMA in Indonesia; expansion depends on business complexity, legal, and regulatory considerations, affecting management, compliance, and tax obligations.

Establishing and Expanding PT PMA in Indonesia

Most foreign investors start with a single PT PMA when entering Indonesia. As their business grows, they often face the decision of whether to expand within the same company or create additional subsidiaries. This choice depends on how they plan to structure and scale their operations over the long term, especially when venturing into new industries, acquisitions, or joint ventures.

Suitable Use of a Single PT PMA

A single PT PMA is suitable when new activities can be integrated under existing operations using compatible KBLI classifications. This approach is practical when the new activities do not require separate licenses or distinct regulatory oversight. Expanding within one company can streamline administrative processes while accommodating related business growth.

Considerations for Establishing Multiple Entities

However, certain transactions and strategic decisions may necessitate creating new companies due to legal, commercial, or regulatory reasons. It’s important to weigh the benefits of maintaining separate subsidiaries against the increased regulatory obligations. Each PT PMA operates as a distinct legal and tax entity, responsible for its own compliance, accounting, and reporting requirements.

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Caitlin Clark Fans Accuse Team USA Teammates Of Freezing Her Out After Win Over Czech Republic In Berlin

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Caitlin Clark Fans Accuse Team USA Teammates Of Freezing Her

BERLIN — Caitlin Clark fans took to social media Monday night and Tuesday to accuse the Fever star‘s Team USA teammates of failing to feed her the ball during a lopsided 105-64 win over the Czech Republic, reigniting a debate over the point guard’s role within the roster during the FIBA Women’s Basketball World Cup.

The win clinched a knockout-stage spot for Team USA, extending the squad’s perfect record through group play at this year’s tournament in Germany. Clark finished the game with nine points, one rebound and seven assists, though six of her teammates outscored her individually. The result followed a considerably more difficult performance two days earlier in a narrow 55-52 win over Italy, in which Clark scored just one point.

A sports account on X shared a clip from the Czech Republic game that quickly circulated among Clark’s fan base, captioned “TEAM USA DOESN’T PASS TO CAITLIN CLARK AGAIN… DESPITE HER FEEDING EVERYONE!” The accompanying voiceover in the video argued that teammates Breanna Stewart and Paige Bueckers were repeatedly positioned to limit Clark’s ability to control the offense as point guard.

“So Team USA won today, but it was another game where they just wouldn’t pass to Caitlin,” the voiceover said. “So what they do is put Breanna Stewart; she’s dribbling up the court. They put her in with Caitlin Clark and then don’t let Caitlin Clark run the point guard.” The video’s creator added, “Honestly, anytime Paige Bueckers and Breanna Stewart were on the court, Caitlin Clark wasn’t going to get the ball,” and characterized the pattern as spanning “three straight games.”

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The clip highlighted several sequences in which Clark distributed the ball to multiple teammates, including Bueckers, Angel Reese, Aliyah Boston in the corner for a three-pointer, and a full-court pass to Stewart, with each recipient converting a field goal. The video’s narrator argued Clark “could have about 15 assists in the game” had more of her passes been finished, and suggested the pattern reflected a deliberate effort to limit her offensive involvement rather than simple game flow.

Other fans echoed similar sentiments in response to the Czech Republic performance. One user described the pattern as “sabotage,” writing, “We are back to nobody passing the ball to Caitlin. And Caitlin passing the ball to everyone else. CC sabotage in full effect by her teammates.” Another frustrated commenter wrote, “They’ll rather turn the ball over than passing it to Caitlin Clark. This is so funny.”

Not all reaction to Clark’s tournament role has framed it as teammates deliberately excluding her. Retired WNBA star Tina Charles pushed back on narratives isolating Clark specifically, suggesting the offensive struggles reflected a broader team issue rather than a targeted effort against any single player.

“It was a team USA issue yesterday, it’s not fair to isolate Caitlin Clark’s game only,” Charles wrote on social media following the Italy game.

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Beyond the passing debate, some fans have also pointed to head coach Kara Lawson’s substitution patterns as a contributing factor, criticizing the limited minutes Clark has received relative to other members of the roster throughout the tournament. Clark was notably left out of Team USA’s starting lineup entirely for the tournament’s opening matches, a decision that had already drawn criticism from fans on social media before the passing controversy emerged. One fan reacting to that earlier lineup decision wrote, “The reigning MVP and the team’s best player doesn’t start? Only in the women’s game would this ever happen. CC and Paige should be starting.”

Despite the criticism directed at how she has been used within the offense, Clark’s individual tournament performance has included standout moments. In Team USA’s opening group-stage game, a 94-61 win over China, Clark recorded a double-double of 14 points and 11 assists without committing a single turnover, becoming the first player in Women’s World Cup history to reach at least 10 assists without a turnover in a game, and the first Team USA player to record 10 or more assists in a World Cup contest since Dawn Staley in 1998. FIBA subsequently named her Player of the Game for that performance.

The Italy game presented a considerably rougher outing for both Clark individually and Team USA as a whole. The Americans shot just 29% from the field and made only one of 12 three-point attempts, logging 11 assists against 14 turnovers in what became their lowest-scoring game in Team USA World Cup history since 1971. A contested no-call on a drive by Clark late in that game, in which she appeared to be blocked by Italian center Olbis Andre without a whistle, further fueled debate among fans over whether officiating had also played a role in her uneven tournament performance.

Despite the criticism, the majority of fan reaction following the Czech Republic win leaned in Clark’s defense rather than critical of her play, according to accounts of the social media response, with many pointing to her continued strong assist numbers as evidence her playmaking remains a significant asset to the team even during stretches when her own scoring has lagged.

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With group play now complete, Team USA is scheduled to face the winner of a qualifying matchup between Japan and Hungary in the tournament’s quarterfinal round. As the Americans continue pursuing a gold medal, the ongoing debate over Clark’s role within the offense, and whether teammates are adequately involving her in the flow of the game, appears likely to remain a central storyline for fans following the team’s title run through the remainder of the tournament.

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Housing market cools as price per square foot falls for 10th month

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Mortgage rates rise to 6.69%: Freddie Mac

The housing market is cooling as summer draws to a close and begins to transition into fall, with some cities around the U.S. seeing larger price decreases to attract buyers.

Home sellers are moving to meet buyers in the middle with price reductions as high mortgage rates contribute to affordability challenges, particularly in metro areas that saw significant price growth during the pandemic.

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An analysis by Realtor.com found that the price per square foot decreased year over year for the 10th straight month in August, with nationwide prices down 1.8% from a year ago.

Around the country, median list prices fell year over year in three of the four major regions in the country (-3.6% in the Northeast, -2.6% in the South, and -2.1% in the West), and remained flat in the Midwest.

THE TOP CITIES IN AMERICA WHERE RENTING BEATS BUYING BY $1,000

Home with a "for sale" sign

Nationally, median list prices fell for the 10th straight month in August. (iStock/Getty Images Plus)

The report found that the median list price per square foot fell in 36 of the top 50 metro areas in the U.S. in August compared with a year ago.

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The largest declines were in Austin (-8.1%); Tampa (-5.6%); and Memphis (-4.1%). Metros that saw the largest gains were Providence, R.I., (+9.3%); Indianapolis (+4.4%); and Chicago (+3.6%).

Realtor.com senior economist Jake Krimmel said that “One common thread for most markets – including Austin, Tampa, San Antonio, Denver – is 2020-22 boomtowns continuing to give back some of their pandemic-era gains. These are also, by and large, places with much more inventory now than pre-pandemic norms.”

SLOWING LABOR MARKET CREATES NEW HURDLE FOR FIRST-TIME HOMEBUYERS FACING AFFORDABILITY SQUEEZE

Construction workers builds home with US flag in background

Most areas which have expanded housing inventory are seeing larger price declines. (Joshua Lott/Bloomberg via Getty Images)

San Francisco is an outlier in the analysis, as the city saw a 3.9% decline in list price per square foot in August from a year ago, which ranked fourth nationally despite the market remaining hypercompetitive.

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The number of active listings in San Francisco was down 16.3% in July from the prior year, which compressed the housing market. The median listing price in the city remains high at $908,700, even though it has decreased by 5.2% year over year.

THESE ARE AMERICA’S HOTTEST HOUSING MARKETS – SEE WHICH AREAS MADE THE LIST

A San Francisco neighborhood with the Golden Gate Bridge in the background

Median list prices fell in San Francisco, though the city’s housing market remains highly competitive. (Tayfun Coskun/Anadolu via Getty Images)

“It’s not about San Francisco homes losing value, but rather how expensive the available inventory is this year relative to last,” Krimmel said.

“There are fewer small, pricey homes in the center of the city for sale. They are scarce and selling fast,” he explained. “On the flip side, this year there are relatively more large, less expensive per-square-foot homes coming up for sale in outer suburbs.”

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Other metro areas that experienced the biggest annual declines in listing price per square foot in Realtor.com’s analysis include San Antonio (-3.6%); Denver (-3.4%); Baltimore (-3.2%); San Diego (-2.7%); Orlando (-2.6%); and Portland, Oregon, (-2.4%).

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John Healey praises UK business and vows to support more ‘unicorns’ as he says economy is turning a corner

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Chancellor promised to address the rising burden on businesses ahead of next month’s Budget

Chancellor of the Exchequer John Healey delivers a speech on economic growth at at the Manufacturing Technology Centre in Coventry, as he unveils a £150 million fund for fast-growing northern firms.

Chancellor of the Exchequer John Healey delivering his speech on economic growth at at the Manufacturing Technology Centre in Coventry(Image: Betty Laura Zapata/PA Wire)

Chancellor John Healey said the UK economy was “turning a corner” as he pledged to rein in public expenditure ahead of next month’s Budget.

Delivering his first major address since taking charge at the Treasury, Mr Healey acknowledged the strain of high government borrowing costs and vowed to ease the growing pressure on businesses.

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Mr Healey sought to strike an upbeat tone about the UK’s economic outlook, despite the ongoing turbulence caused by global crises including the conflict in the Middle East and Russia’s invasion of Ukraine.

Speaking in Coventry ahead of next month’s Budget — the first since Andy Burnham moved into 10 Downing Street — Mr Healey said: “The Prime Minister and I are in lockstep in our commitment to meeting the fiscal rules at the upcoming Budget, to balancing the books with a buffer to protect against uncertainty.

“To controlling borrowing to bear down on inflation and reducing long-term pressures on our public finances.”

He argued that the mounting cost of debt interest demonstrated that “staying true to our values means being honest about the need to control government spending”.

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Yet he maintained there remained an “optimistic story” to be told about the UK economy, which he said possessed “huge latent potential”.

It was, he said, “a country turning a corner, a country whose people, businesses and communities are ready to seize the opportunity of new technologies and new ideas”. Outlining his vision for the economy, Mr Healey confirmed the Government would extend its overhaul of judicial review from energy projects to encompass all major infrastructure schemes.

He stated the reforms would ensure “vexatious litigation and challenge can’t block economic growth”.

The Chancellor also reaffirmed the Government’s pledge to devolve power away from Whitehall, announcing he would unveil a “roadmap to fiscal devolution” at next month’s Budget.

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He said: “London, of course, is our powerhouse, but if our city regions could emulate the success of those in France or Germany, growth in our country would be transformed.”

In advance of that, he revealed the British Business Bank would be injecting £150 million into high-growth firms across the North of England, while also announcing the establishment of a “Northern 500” collective of “the North’s most ambitious mid-sized businesses”, to be led by regional mayors.

Mr Healey said he wanted twice as many “unicorn” firms in the UK and to make it easier for businesses to test new technology.

Mr Healey said: “So, I’m setting an ambition now to double the number of unicorn firms in this country.”

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He said he would also aim to have “sandboxing” powers in place so businesses and innovators can test technology from pavement robots to drones to life-saving medical equipment, which he said regulation currently prevents.

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Meta debuts long-awaited personal AI agent, Muse

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Meta plans sweeping overhaul as Zuckerberg pushes AI pivot

Meta on Tuesday rolled out a long-planned personal artificial intelligence agent aimed at helping users complete daily tasks.

The Muse agent can autonomously send emails, book travel on a person’s behalf, sell a car and lower a bill, according to the social media giant.

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Modeled on the open-source AI agent OpenClaw, Muse is designed to access a person’s apps across categories like email, calendar, payments, health, shopping and the smart home, Meta said. People choose which apps it connects to and can revoke access at any time.

OPENAI UNVEILS GPT-6 ASTRA WITH MAJOR ADVANCES IN AI CAPABILITIES: ‘NOW IN THE AGI ERA’

Meta CEO Mark Zuckerberg makes a keynote speech during the Meta Connect annual event at the company's headquarters in Menlo Park, California, on Sept. 25, 2024.

Meta CEO Mark Zuckerberg makes a keynote speech during the Meta Connect annual event at the company’s headquarters in Menlo Park, California, on Sept. 25, 2024. (Reuters/Manuel Orbegozo)

Each Muse agent runs on its own virtual machine, a cloud-based emulation of a personal computer, which enables it to keep carrying out requests in the background even when a person is not actively using it.

Meta said that users can tell Muse what they need to get done, and it will take action using the Muse Spark model that the company built for real-world agentic work. It can handle tasks such as sending an email or booking travel, as well as bigger projects.

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NVIDIA CEO JENSEN HUANG DECLARES ‘AGI HAS ARRIVED’ AFTER OPENAI UNVEILS GPT-6 ASTRA

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The company said that once a user shares a goal with Muse, it helps them develop a personalized plan and coordinate their time and resources, while advancing the work on its own – opening browsers, filling out forms, and even negotiating on the user’s behalf.

For longer tasks, Muse can continue to work after the app is closed but can come back when something changes or if it needs approval, like before sending an email or making a purchase, Meta said.

Muse also remembers a user’s preferences, giving it the ability to make suggestions unprompted and take action on details that were only mentioned once. As an example, Meta said that Muse can turn a recipe reel saved on Instagram into a grocery list, then generate a suggested menu for a dinner party that takes into account their friends’ dietary restrictions from prior gatherings before sending invites.

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AI INFRASTRUCTURE INVESTMENT PROJECTED TO TOP $31T BY 2050

Technology at Meta's Stanton Springs Data Center.

Meta’s Muse agent runs on a virtual machine, allowing it to operate in the background after a user closes the tool.  (FOX Business Network / Fox News)

Syncing up the Muse agent with various apps that may contain a person’s real data increases the potential for the new tool, though it also raises the risk of safety and reliability issues for users who granted Muse access to their personal information and if the agent misbehaves.

Vishal Shah, VP of AI products at Meta, said the company initially delayed the release of the product in April to make it more secure. The company determined the extra work allowed it to “cross the threshold” and meet minimum requirements for product safety, security, privacy, model performance and other metrics.

“It is impossible to say that there is never going to be a mistake, but every single part of the architecture has been designed to make this as safe, as secure, as private as we can possibly make it,” Shah said in an interview.

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Later this year, Meta is planning to introduce Muse Confidential VM, which will keep a user’s data and communications with Muse in an encrypted format that only the user holds, so that only they can access it.

The product will initially be available only in the U.S. through a dedicated Muse app or Meta’s WhatsApp messaging service, Meta said. The company added that it plans to add Muse to its smart glasses “soon” without further details.

Reuters contributed to this report.

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100 Simple Ways To Increase Your Income

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ways to make more money

Whether you’re trying to pay off debt, save for retirement, build an emergency fund, or simply enjoy a more comfortable lifestyle, increasing your income can make a significant difference. While cutting expenses is helpful, there’s a limit to how much you can reduce spending. On the other hand, your earning potential has virtually no ceiling.

The good news is that you don’t need to quit your job or invest thousands of pesos to start earning more. Many income opportunities require little or no capital, and others can grow into full-time businesses over time.

ways to make more money

Below are 100 simple ways to increase your income. You don’t have to try all of them. Even implementing a handful could substantially improve your financial future.

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1. Ask for a Salary Increase

If you’ve consistently delivered excellent results, prepare evidence of your achievements and negotiate a higher salary.

2. Learn a High-Income Skill

Skills like digital marketing, programming, AI, cybersecurity, copywriting, and data analytics are highly valued.

Offer services on platforms like Upwork or Fiverr, including writing, graphic design, programming, or virtual assistance.

4. Teach Online

Create online courses or tutor students in subjects you’re knowledgeable about.

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5. Become a Consultant

Businesses pay experts for advice in accounting, HR, marketing, IT, and management.

Create templates, spreadsheets, eBooks, planners, or printable designs that generate passive income.

A successful blog can earn through display ads, affiliate marketing, and sponsored content.

8. Launch a YouTube Channel

Create valuable videos and monetize them with ads, memberships, sponsorships, and affiliate links.

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Promote products and earn commissions from every successful referral.

10. Sell Stock Photos

Upload quality images to stock photo websites and earn royalties.

11-20: Earn More from Your Existing Skills

  • Offer resume writing services.
  • Become a social media manager.
  • Provide bookkeeping services.
  • Offer tax preparation assistance.
  • Create websites for small businesses.
  • Offer SEO services.
  • Become a translator.
  • Provide voice-over services.
  • Edit videos.
  • Create logos and branding packages.
  • Open an online store.
  • Sell handmade crafts.
  • Start a print-on-demand business.
  • Offer cleaning services.
  • Start lawn care services.
  • Provide pet sitting.
  • Offer babysitting.
  • Become a mobile car detailer.
  • Start pressure washing services.
  • Offer home repair services.

31-40: Online Income Ideas

  • Sell on Amazon.
  • Sell on Etsy.
  • Become an Amazon Influencer.
  • Flip domain names.
  • Sell website templates.
  • Create mobile apps.
  • Develop browser extensions.
  • Create premium newsletters.
  • Sell online memberships.
  • Launch a paid community.
  • Invest in dividend stocks.
  • Buy index funds.
  • Invest in REITs.
  • Purchase rental properties.
  • Invest in bonds.
  • Use high-yield savings accounts.
  • Peer-to-peer lending.
  • Invest in ETFs.
  • Reinvest dividends.
  • Dollar-cost averaging.

51-60: Gig Economy Opportunities

  • Drive for ride-sharing services.
  • Deliver food.
  • Deliver groceries.
  • Rent out your car.
  • Become a mystery shopper.
  • Complete paid surveys.
  • Test websites.
  • Participate in research studies.
  • Become a product tester.
  • Rent unused parking spaces.

61-70: Sell What You Already Own

  • Sell unused electronics.
  • Sell old furniture.
  • Sell collectibles.
  • Sell books.
  • Sell designer clothing.
  • Sell unused tools.
  • Sell sports equipment.
  • Sell musical instruments.
  • Host a garage sale.
  • Flip thrift store finds.
  • Write an eBook.
  • Create online courses.
  • License your music.
  • Sell stock videos.
  • Create digital planners.
  • Sell Canva templates.
  • Develop software.
  • Create WordPress themes.
  • Sell website plugins.
  • License your photography.

81-90: Career Growth

  • Earn professional certifications.
  • Network with industry leaders.
  • Attend conferences.
  • Improve communication skills.
  • Master negotiation.
  • Become a public speaker.
  • Learn AI tools.
  • Take leadership roles.
  • Find higher-paying employers.
  • Work remotely for international companies.

91-100: Smart Financial Habits That Increase Income

  • Automate investments.
  • Invest in yourself every year.
  • Read personal finance books.
  • Track your net worth.
  • Build multiple income streams.
  • Use cashback credit cards responsibly.
  • Start a family business.
  • Turn hobbies into income.
  • Partner with other entrepreneurs.
  • Never stop learning.

How to Choose the Best Income Strategy

Not every opportunity will fit your personality, schedule, or financial goals. Before committing your time and money, consider these important factors:

  • Available Time: Some income sources require only a few hours a week, while others demand full-time commitment.
  • Startup Cost: Many side hustles can be started for under P5000, while others require larger investments.
  • Skills: Focus on opportunities that match your strengths or those you can learn quickly.
  • Scalability: Businesses and digital products often have greater long-term income potential than hourly work.
  • Risk: Investments can generate excellent returns but also involve financial risks.

Common Mistakes to Avoid

  • Trying too many income ideas at once.
  • Expecting overnight success.
  • Ignoring taxes and business expenses.
  • Not reinvesting profits.
  • Failing to continue learning.
  • Giving up too early.
  • Not building an emergency fund.

Tips for Maximizing Your Earnings

The highest earners rarely depend on a single source of income. Instead, they combine active income with passive income and investments. For example, someone may have a full-time job, operate a blog, invest in dividend stocks, and earn affiliate commissions—all at the same time.

Focus first on increasing your primary income by improving your skills and negotiating better compensation. Then gradually build additional income streams that can eventually operate with minimal daily effort.

Remember that consistency matters more than perfection. Small improvements each month can compound into significant financial growth over the years.

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Increasing your income doesn’t always require a dramatic career change. Sometimes, it starts with learning one valuable skill, launching a small side hustle, or making smarter investment decisions.

The 100 ideas listed above prove there are countless opportunities available today, both online and offline. The key is to choose one or two that match your interests, commit to them consistently, and continuously improve your skills.

Financial freedom is rarely achieved overnight, but every additional income stream brings you one step closer to your goals. Start small, stay disciplined, and remember that your earning potential grows as you continue learning and taking action.

Frequently Asked Questions (FAQ)

What is the easiest way to increase my income?

The easiest way is often to combine asking for a raise, freelancing in your existing skill set, and selling unused items. These options require little investment and can produce results quickly.

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How many income streams should I have?

Many financial experts recommend having at least three income streams: your primary job, a side hustle, and an investment or passive income source. Diversifying your income reduces financial risk if one source declines.

Which income ideas require the least money to start?

Freelancing, tutoring, blogging, affiliate marketing, virtual assistance, resume writing, and social media management can often be started with just a computer and an internet connection.

What are the best passive income ideas?

Some of the most popular passive income options include dividend investing, creating digital products, publishing eBooks, building niche websites, affiliate marketing, online courses, and renting out property or equipment.

How long does it take to build a significant second income?

It depends on the strategy you choose. Some side hustles can generate income within weeks, while blogs, YouTube channels, and investment portfolios may take months or years to reach their full earning potential. Consistency and continuous improvement are the biggest factors in long-term success.

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NBA suspends Clippers owner Ballmer for year in Kawhi Leonard probe

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NBA suspends Clippers owner Ballmer for one year in Kawhi Leonard salary cap probe

The NBA on Wednesday suspended Los Angeles Clippers owner Steve Ballmer for one year as part of a broad array of sanctions on the basketball team and two senior executives for violating the league’s salary cap circumvention rules related to star player Kawhi Leonard and four companies that did business with the team.

Ballmer “knowingly” sought to help Leonard, 35, obtain off-court income opportunities worth millions of dollars, and approved a business deal that the billionaire former Microsoft CEO “knew was a precondition for Aspiration [Partners] to enter into an endorsement agreement with Mr. Leonard,” the league said in a statement.

The Clippers were also fined $30 million — the largest in NBA history — and will forfeit five first-round draft picks, one each year beginning in 2029.

The Clippers and their personnel will be subject to a compliance and monitoring program overseen by the league office for five years, according to the NBA.

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Clippers President of Business Operations Gillian Zucker was suspended without pay for one year, and President of Basketball Operations Lawrence Frank was suspended without pay for six months. Zucker provided false and misleading statements to investigators, according to a summary of findings released Wednesday.

The league said that an investigation of the Clippers by the law firm Wachtell, Lipton, Rosen & Katz “found a pattern of misconduct and multiple significant rules violations” by the organization, which had previously violated salary cap circumvention rules.

“The three individuals most responsible for the Clippers’ rule-breaking are Mr. Ballmer, Ms. Zucker, and Mr. Frank,” a 36-page report by Wachtell, Lipton said.

Ballmer is the ninth-richest person in the world, according to Forbes‘ real-time billionaires list, which puts his fortune at more than $152 billion.

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The Clippers, in a statement, said, “We vehemently reject the NBA’s findings.”

“We intend to vigorously challenge these findings and penalties through every avenue available to us and look forward to an ethical and impartial arbitration process,” the team said.

In a summary of its findings, Wachtell, Lipton said the organization’s violations included “initiating off-court income opportunities between” the 35-year-old Leonard and four companies doing business with the team — Aspiration Partners, Boingo Wireless, Daktronics, and Lockton Insurance — and facilitating endorsement deals between those companies and the seven-time NBA All-Star.

The Clippers also induced those companies to enter into deals with Leonard by offering them business from the team, paying personal expenses for Leonard and his representatives, and failing “to report improper solicitations for off-court income opportunities made on Mr. Leonard’s behalf through his then-business manager, Dennis Robertson,” the summary said. Robertson is Leonard’s uncle.

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Leonard was ordered to pay the league $700,000 in connection with his own violations, through Robertson’s conduct, which included pressuring the team to help Leonard obtain off-court income opportunities and failing to reimburse payments by the Clippers for personal expenses.

The NBA banned Robertson from conducting business or otherwise engaging with the league’s teams and their affiliates, players or personnel for five years.

The report comes nearly a year to the day after the podcast Pablo Torre Finds Out began a series of episodes alleging that the Clippers and Ballmer violated salary cap circumvention rules in dealings with the now-collapsed green energy financial company Aspiration Partners, which had a four-year, $28 million endorsement agreement with Leonard. The podcast reported that the agreement was never publicly announced, and that Leonard did not perform any services under it.

NBA Commissioner Adam Silver, in a statement Wednesday, said, “The NBA’s collectively bargained system for determining player compensation is a fundamental component of the basketball competition that the league oversees for the benefit of the teams and players and ultimately the fans.”

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“I am deeply disappointed by the flagrant violations of our rules and by the Clippers’ institutional and leadership failures that led to this misconduct. The severity of the penalties reflects the seriousness of the violations,” Silver said.

Leonard, in a statement through his new agent, said, “Integrity and respect for this game are fundamental to who I am. I accept full responsibility for lapses in judgment by people within my inner circle and regret the distraction this situation has caused the fans and my family.

“I entered into my contract with the Clippers as well as the agreements in question in good faith, fully committed to fulfilling my obligations and with no knowledge of any intent on anyone’s part to circumvent the salary cap,” Leonard said.

The probe’s close could clear the way for the Clippers and Leonard to part ways. A trade that would send Leonard to the Toronto Raptors, the team he played for before the Clippers, was put on hold this summer while the investigation concluded.

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“As I return to Toronto, I am focused on what I can control, closing this chapter, and moving forward with a clean slate,” Leonard said.

In its own statement, the Clippers said the report’s findings “are the result of a heavily biased investigation seeking to justify a predetermined narrative rather than facts and evidence.”

“What the league told us privately differs from what it announced today publicly, and they have not held themselves close to the standard Commissioner Silver set at the start of this investigation to ensure [its] fairness and accuracy,” the team said.

“For the past year, we cooperated fully and in good faith and we will now fight just as hard to demonstrate our innocence.”

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Jobs lost after specialist Devon boiler company collapses

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BBSM had customers in the education, leisure, hospitality and industrial sectors

A closed sign

A closed sign(Image: Getty Images)

A Devon boiler company that fell into financial difficulty is to be liquidated, with the loss of 30 jobs. BBSM was established in 2019 by Robin Cotton, Adrian Ham and Simon Hayes, and provided biomass boiler servicing, maintenance and installation services across England and Wales.

The Tiverton-based business grew rapidly, increasing turnover to almost £4m within five years and developing a substantial customer base in the commercial and public sectors.

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Customers included schools, leisure centres and hotels, including luxury Devon seaside hotel Saunton Sands and wedding and events venue The Corn Barn in Somerset.

According to the directors, the company’s decline was caused by a “combination of factors” over the past 18 months. These included bad debts from customer insolvencies; losses on two major projects; and rising operating costs. They also said cash flow had come under pressure as customers took longer to pay, while earlier this year several projects were cancelled or delayed.

As a result, Nick Harris and Lucinda Coleman, partners in the restructuring team at PKF Francis Clark, were appointed liquidators after BBSM entered creditors’ voluntary liquidation last week.

Mr Harris said: “BBSM had established an excellent reputation within the biomass heating sector. After encountering various headwinds in recent times, the directors worked hard to explore options to secure the future of the business.

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“Unfortunately, it was not possible to rescue the company as a going concern and there was no alternative to liquidation in the circumstances. Our focus now is on realising the company’s assets for the benefit of creditors, as well as supporting former employees with claims to the Redundancy Payments Service.”

Creditors are encouraged to contact Charles Bell, at the Bristol office of PKF Francis Clark, on 0117 403 9800 or charles.bell@pkf-francisclark.co.uk.

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Small Asteroid 2026 RW1 Burns Up Over Indian Ocean, Marks 13th Detected Before Earth Impact

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Berkshire Hathaway Chairman Warren Buffett

A small asteroid harmlessly burned up in Earth’s atmosphere over the Indian Ocean near northwestern Australia on Sunday, marking just the 13th time in history that scientists have successfully spotted an incoming asteroid before it struck the planet.

The object, first identified late Saturday under the temporary designation CERNQ52 by the Mount Lemmon Observatory in Arizona, part of the Catalina Sky Survey, was later given the official catalog name 2026 RW1. Astronomers tracked the space rock for roughly seven hours and 22 minutes between its initial detection and its atmospheric entry, giving researchers a rare, if brief, window to calculate its trajectory before impact.

Estimates of the asteroid’s size varied slightly depending on the tracking source, with most measurements placing its diameter at approximately 0.8 meters, or about 2.6 feet, though the European Space Agency calculated a slightly broader range of 0.6 to 1.3 meters. Given its small size, the object posed no threat to people or infrastructure and was expected to disintegrate completely during its descent through the atmosphere, producing a bright meteor visible only over the remote, largely uninhabited ocean region where it entered.

Richard Moissl, head of the European Space Agency’s Planetary Defence Office, publicly announced the incoming object ahead of its predicted atmospheric entry.

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“Our systems have calculated an atmospheric entry in the timeframe between 16:00-16:30 UTC of a harmless object discovered by Mt Lemmon survey with a diameter of ~0.8 m northwest of Australia over the ocean,” Moissl said.

The asteroid ultimately entered Earth’s atmosphere at 16:07 UTC, or 11:07 a.m. Central time, on Sunday, according to tracking data. ESA’s monitoring system determined the median impact position at approximately 13.77 degrees south latitude and 116.43 degrees east longitude, placing the entry point over the Indian Ocean northwest of Australia. Because the impact occurred over water in a remote area, there were no confirmed visual sightings of the resulting meteor as it burned up.

The event’s significance stemmed not from the asteroid’s size, which was well within the range NASA has said generally poses no danger, but from the fact that astronomers were able to detect and track it before impact at all. According to EarthSky, 2026 RW1 became just the 13th asteroid ever discovered in space prior to striking Earth’s atmosphere, a list that reflects the continued advancement and increasing sensitivity of global asteroid-monitoring networks over the years. The most recent prior pre-impact detection, an object designated 2026 JN4, occurred in May, marking the first such detection in nearly a year and a half before Sunday’s event.

Beyond its rarity as a successfully predicted impactor, the asteroid also carried a notable scientific distinction related to its specific orbital classification. Adrien Coffinet, a member of the Minor Planet Mailing List, highlighted this detail in comments cited by EarthSky.

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“If I’m not wrong, this will be the first Aten asteroid detected in space before impact,” Coffinet wrote. “All the previous impactors detected in space before impact were Apollo asteroids.”

The distinction between the two asteroid classifications relates to their orbital paths around the sun. Aten asteroids, the category into which 2026 RW1 falls, maintain orbits that keep them inside Earth’s orbital distance from the sun, classified as having a semi-major axis of less than one astronomical unit. Apollo asteroids, by contrast, which accounted for all 12 previous pre-impact detections, orbit farther from the sun on average than Earth does, crossing Earth’s orbital path from the outside rather than the inside.

That orbital difference carries practical implications for detection difficulty. Because Aten asteroids spend the bulk of their time closer to the sun than Earth, they tend to approach primarily from the daytime side of the sky, a region ground-based sky surveys generally cannot observe effectively, since those systems typically operate at night and point their instruments away from the sun’s glare. As a result, Aten-class objects like 2026 RW1 often remain effectively hidden from detection until only the final hours before a potential impact, making Sunday’s successful identification a notable technical achievement even given the asteroid’s tiny size.

The object was first reported to the Minor Planet Center by the Catalina Sky Survey, with additional earlier observations contributed by the Pan-STARRS telescope system in Hawaii. NASA’s Center for Near-Earth Object Studies subsequently calculated the asteroid’s trajectory and predicted impact location, drawing on the combined observational data from multiple survey systems to refine the object’s projected path in the hours before it reached Earth’s atmosphere. ESA’s own tracking system, known as Meerkat, is specifically designed to rapidly assess newly detected objects even when only a short observational history is available, testing a range of possible trajectories and progressively narrowing the solution as additional measurements come in.

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Because the asteroid’s predicted impact zone lay entirely over open ocean, researchers have said there is almost no realistic chance of recovering any physical fragments from the object, with any surviving material likely reduced to tiny, pebble-sized pieces that would have fallen harmlessly into the sea.

Scientists involved in tracking the event have emphasized its value as a real-world test of planetary defense and early-warning detection systems, even though the asteroid itself posed no danger. By successfully identifying, tracking and predicting the impact location of an object as small as 2026 RW1, researchers say they continue refining the tools and techniques that would prove critical for detecting significantly larger and more dangerous near-Earth objects with enough advance warning to potentially respond, should such an object ever be found on a collision course with Earth.

With Sunday’s event now recorded as the 13th confirmed pre-impact asteroid detection in history, researchers continue monitoring the skies for additional near-Earth objects, relying on the same global network of automated sky surveys, including Catalina, Pan-STARRS and others, that made possible the successful, if brief, tracking window that allowed astronomers to anticipate 2026 RW1’s harmless demise over the Indian Ocean before it ever occurred.

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Thailand strengthens its connections with Africa through a visit to Nigeria

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Thailand strengthens its connections with Africa through a visit to Nigeria

Thailand is strengthening ties with Africa through Deputy Prime Minister Sihasak’s visit to Nigeria, where he discussed bilateral relations, signed a cooperation agreement, and attended a business forum to explore trade opportunities.


Key Points

  • Thailand is enhancing political, economic, and development ties with Africa, marked by Deputy Prime Minister Sihasak Phuangketkeow’s visit to Nigeria, where he engaged with Nigerian Foreign Minister Bianca Odumegwu-Ojukwu to discuss the Thailand-Africa framework and bilateral relations.
  • A memorandum of understanding on technical cooperation was signed, focusing on aquaculture technology and sustainable agriculture, along with discussions on technology transfer, skills development, trade, and investment. Nigeria was Thailand’s second-largest trading partner in Africa in 2025, with trade worth about US$1.2 billion.
  • Sihasak also engaged with Damtien Larbli Tchintchibidja of the ECOWAS Commission, exploring cooperation in public health and economic development. Additionally, he attended the Thailand-Nigeria Business Forum in Lagos to promote trade and investment opportunities and plans to visit Ethiopia for further talks with the African Union.

Thailand is expanding political, economic, and development ties with Africa as Deputy Prime Minister and Foreign Minister Sihasak Phuangketkeow made his first visit to Nigeria. In Abuja, he met Nigerian Foreign Minister Bianca Odumegwu-Ojukwu to discuss bilateral relations and Thailand’s renewed engagement with Africa under the Thailand-Africa framework.

The two countries signed a memorandum of understanding on technical cooperation and agreed to pursue projects in aquaculture technology and sustainable agriculture. Discussions also covered technology transfer, skills development, trade, and investment. Nigeria was Thailand’s second-largest trading partner in Africa in 2025, with bilateral trade valued at about US$1.2 billion.

Sihasak also met Damtien Larbli Tchintchibidja, vice president of the ECOWAS Commission, to discuss closer ties between Thailand, West Africa, and ASEAN. Thailand has appointed Ambassador to Nigeria Thirapath Mongkolnavin as its first permanent representative to the Economic Community of West African States, and potential areas of cooperation include public health, economic development, and knowledge sharing.

Sihasak also attended the Thailand-Nigeria Business Forum in Lagos on August 27, where Thai businesses explored trade and investment opportunities. He is scheduled to travel to Ethiopia today (Aug 28) for talks with the African Union, continuing Thailand’s efforts to broaden bilateral and regional engagement across Africa.

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Source : Thailand Expands Ties With Africa Through Nigeria Visit

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Tech firm IQE planning move to main London Stock Exchange

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The Cardiff headquartered firm has reported strong revenues for the first half of this year

IQE(Image: RICHARD DAVIES 2022)

One of Wales’ leading tech firms, IQE, have reported a more than 40% rise in half year revenues while reaffirming a positive trading outlook in part supported by strong growth in AI and data centre related markets.

The Cardiff headquartered firm, a leading global supplier of compound semiconductor wafer products and advanced material solution, said that trading had exceeded management expectations.

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It has also confirmed it plans to move from the Alternative Investment Market to the main London Stock Exchange in the first half of next year. This should increase its visibility with institutional investors.

Earlier this year IQE confirmed a £81m investment package to support its growth plans following a strategic review of the business.

The funding included a £30m investment by US semiconductor manufacturer MACOM Technology Solutions – which has increased its position as a key customer – which also providing a further £15m in convertible loan notes.

In its first half to the end of June IQE revenues climbed 43% a year earlier from £45.3m to £64.6m. It posted an Ebitda of £6m compared to an Ebitda loss of £400,000 in the first half of 2025. Losses before tax were down from £18.3m to £12.6m with an improved cash and cash equivalent position of £41.6m.

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It sees the potential for upside opportunities in optical communications for data centre and AI infrastructure, underpinned by recently signed supply agreements.

IQE chief executive Jutta Meier said: “I am pleased to report a strong first half performance, with more than 40% revenue growth year-on-year across our core markets driving profitability. This reflects the strong momentum we are seeing across AI-driven data centre infrastructure, advanced sensing, wireless and defence applications, alongside improved operational execution and a more favourable product mix.

“During the period, we have demonstrated our ability to capture long-term growth opportunities across these critical markets, underpinned by a number of key supply agreements. IQE is uniquely positioned to meet customer needs and will be converting existing capacity in H2 to support the increasing demand for indium phosphide solutions.

“Looking ahead, we have initiated a move to the main market of the London Stock Exchange, marking an important next step in IQE’s development and reflecting the board’s ambition to broaden support for the business and position IQE for the future.”

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