Nikon to Cut Workforce on Slump in Camera Business: Nikkei

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Nikon Corp. plans to reduce about 2,000 employees, or 10% of its total workforce, due to a slump in its core camera business, Nikkei reported.

Its business was also impacted by the performance of Intel Corp., one of Nikon’s key clients of semiconductor equipment, the daily reported, without saying where it got the information.

In the company’s reform agenda announced on Nov. 5, Nikon outlined a plan to move its camera production to Thailand and discontinue domestic output. The firm is considering cutting its sales force, the paper said.

Nikon posted an operating loss of 26.1 billion yen ($251 million) for the second quarter compared with analysts’ estimates of a loss of 20.3 billion yen.

Twitter flags Trump's tweet on mail-in voting in Pennsylvania

(CNN Business)Twitter said Friday it will hand control of the @POTUS account to the new Biden administration on Inauguration Day.

The @POTUS account is the official account of the President of the United States and is separate from the @realDonaldTrump account that Trump uses to tweet.
This will also apply to about a dozen White House accounts, including the @FLOTUS and @PressSec accounts, Nick Pacilio, a Twitter spokesperson told CNN Business.

“Twitter is actively preparing to support the transition of White House institutional Twitter accounts on January 20th, 2021. As we did for the presidential transition in 2017, this process is being done in close consultation with the National Archives and Records Administration,” Pacilio said in a statement.
An archive of Obama’s @POTUS account can be found under the handle @POTUS44.

How much the average American will get from Social Security when they retire

Nearly 6 million beneficiaries were added to Social Security in 2019.

The size of their check will be based on their income, the year they were born and the age they decide to start benefits. 

Here's a case study.

The median weekly pay for U.S. workers was $957 at the start of 2020. 

That works out to an annual salary of $49,764. If the money came from a traditional job, 6.2% of your salary or about $3,085 would go toward Social Security taxes. That sum is then matched by employers.

Those numbers are straightforward. Figuring out how much you will get when you are ready to retire is a different story.   

How much should you expect from Social Security if you make the median U.S. salary? Watch this video for a breakdown of how much you will get and how your monthly benefit will be calculated.

More from Invest in You:
How Walmart and other big companies are trying to recruit more teenage employees
Americans are more in debt than ever and experts say 'money disorders' may be to blame
How much money do you need to retire? Start with $1.7 million

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.

Photos: Denver chapter of the National Nurses United union rally in Aurora

Photos by Eli Imadali, Special to the Denver Post

The Denver chapter of the National Nurses United union gathered for a rally Friday evening in Aurora. Members of the union said they face chronic understaffing, made worse by COVID-19, were protesting shift changes and decried what they said were efforts by hospital management to curb the union’s collective bargaining rights.

Philippines Offers Tax Breaks to Makers of Face Masks, Medicines

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The Philippine government will offer tax breaks to manufacturers of medicine, medical equipment and protective gear like face masks, and operators of services that have become essential during the coronavirus pandemic.

Companies that make sanitizers, disinfectants and cleaning materials, as well as companies that have re-purposed factories to produce goods to help fight the virus, may be exempt from paying income tax for as long as six years, according to the latest Investment Priorities Plan signed Wednesday by Executive Secretary Salvador Medialdea.

Hospitals, quarantine facilities, crematoriums, waste treatment and disposal, virus-testing centers and laboratories are included in the list of business eligible for tax breaks. Investment in activities that will create jobs away from congested cities may also qualify for fiscal perks, according to the plan.

CU Buffs believe defense trending up – The Denver Post

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Honeymoon Already Shaky: Joe Biden Hits A Nerve On Twitter With Money Plea

President-elect Joe Biden, hat in hand, appealed to voters Friday for funding for his administration’s transition into the White House.

Ah, nope would be Twitter followers’ stunned response.

“Here’s the deal,” Biden tweeted. “Because President Trump refuses to concede and is delaying the transition, we have to fund it ourselves and need your help,” asking supporters to “chip in.”

Though followers on Twitter were definitely not willing to “chip in,” they had lots of ideas about how Biden and Vice President-elect Kamala Harris could economize — like “skipping Coachella this year.”

People responding were amused — but also annoyed that the president-elect of the world’s wealthiest nation, which has handed massive tax breaks to corporations and the wealthy, now has his hand out to the average American struggling with tough economic times just now.