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As the Indian economy pushes forward to grow at 9 per cent and above over the next few years, a key challenge for the country would be to rebalance its energy needs in favour of renewable sources by 2030 to 50 per cent as per the Paris agreement.<br /><br />This is where the <keyword id="44891" type="General" weightage="80" keywordseo="aluminium" source="Orion">Aluminium</keyword> sector will play a greater than ever before role. Extensive growth in electric vehicles, renewables, modern infrastructure, energy efficient consumer goods and greater dependence on strategic sectors such as aerospace and defence, will drive Aluminium consumption to grow at CAGR of 10 per cent or more. For example, Aluminium usage in EV battery is 40-50 per cent more than a normal ICE. Being 3 times lighter than steel it aids in fuel efficiency making it an efficient choice for EVs.<br /><br />However, the Indian aluminium industry is struggling to revive itself over the last two years following the unprecedented Covid pandemic. The declining domestic producers market share with surging imports coupled with significant cost escalation for primary producers due to a rise in input costs of critical raw materials, escalating ocean freights &amp; logistics costs due to container shortage, current coal crunch situation etc, is restricting the industry's ability to support the future of the country at a time when India cannot rely on import sources alone to fuel this growth.<br /><br />To give relief to the sector, there is a need for urgently looking at the duty structure. The basic custom duty on Aluminium and <keyword id="1865776" type="General" weightage="50" keywordseo="aluminium-scrap" source="Orion">Aluminium scrap</keyword> is not in line with other non-ferrous metals like Zink, lead, nickel and tin which is a huge disadvantage for domestic Aluminium producers. The industry expects increase in tariff rate of basic custom duty or peak custom duty rate from existing 10 per cent to 15 per cent. Currently custom duty on Primary Aluminium is 7.5 per cent, Downstream Aluminium is 7.5 per cent to 10 per cent and Aluminium <keyword id="6374716" type="General" weightage="100" keywordseo="scrap" source="Orion">scrap</keyword> is only 2.5 per cent. This is the reason why despite having significant presence of primary Aluminium capacity and potential to generate sufficient domestic scrap, India's consumption of scrap is 100 per cent import dependent. The way forward is to increase custom duty on Aluminium srap from 2.5 to 10 per cent.<br /><br />Primary aluminium industry is facing severe threat from the increasing import of Aluminium scrap. The share of scrap in total imports increased from 52 per cent in FY-16 to 66 per cent in FY-21. resulting in Forex Outgo of $2 billion (Rs 15,000 crore).<br /><br />What is also affecting the Indian industry is China's renewed measures to restrict Scrap imports through National Sword Policy, which is leading to greater inflow of scrap into India. China imposed 25 per cent duty on Aluminium Scrap imports from USA, and classified Aluminium Scrap in restricted import list from July, 2019, with plan to completely ban all scrap and waste imports. Post that the share of import from the US in China's total Aluminium scrap imports has declined from 53 per cent in 2017 to just 16 per cent in 2019. India has overtaken China as world's largest aluminium scrap importer due to Chinese measures. As a result, entire global scrap chain is shifted to India in absence of any quality or BIS standards for scrap recycling/ usage and imports in the country. A major threat is from US scrap imports, as US is diverting large volume of scrap to India, since EU and other developed countries have stringent standards for scrap. The import from US as share of India's total scrap imports increased from 8 per cent in FY16 to 24 per cent in FY21.<br /><br />This precarious situation can be resolved by safeguarding the domestic industry against these non-essential imports in the upcoming union budget.<br /><br />The industry demands increasing the basic custom duty on Chapter-76 (Aluminium &amp; articles).<br /><b>SEE ALSO:</b><br /><br /> <b><a href="https://www.businessinsider.in/budget/news/budget-2022-expectation-in-higher-standard-deduction-tax-slabs-and-covid-insurance/slidelist/88891751.cms">From higher standard deduction and change in tax slabs to clarity on Covid insurance, here’s what tax experts want from Budget 2022</a></b><br /><br /> <b><a href="https://www.businessinsider.in/budget/news/widening-tax-base-should-be-a-focus-area-in-the-union-budget-says-primus-research/articleshow/89093457.cms">Widening tax base should be a focus area in the Union Budget, says Primus Research</a></b><br />

Aluminum industry wants custom duty on scrap to be increased to 10% to protect domestic companies

If you think you will be getting sops while replacing your old car with a new one, read the fine print that government has just added.<br />
<br />
The Indian government is planning not to give sops to those buying fuel-guzzling vehicles.<br />
<br /> Reportedly, cars and utility vehicles having a <keyword id="724307" type="UNKNOWN" weightage="20" keywordseo="fuel-economy">fuel economy</keyword> below 14 km per litre, as certified by the Automotive Research Association of India (ARAI), won’t get benefit.<br />
<br />
It is likely that big SUV buyers will be left out of the bracket as majority of the cars in India have fuel efficiency in excess of 25 km per litre.<br />
<br />
As per the proposed Voluntary Vehicular Fleet Modernisation Policy (V-VMP), vehicles bought before April 2005 or those below BS IV emission standards will be eligible for incentives if replaced by new ones.<br />
<br />
"Details of the plan are yet to be worked out. However, one thing is certain that the incentives won't be offered on fuel-guzzling cars. Otherwise, the motive of this policy would be defeated. Some minimum threshold of fuel efficiency would be worked out. It could be 13-14 km per litre,” a source told ET.<br />
<br />
The Indian road transport ministry had unveiled a draft of the proposed V-VMP, which suggests complete excise exemption for state transport buses to encourage public transport to shift to newer and higher capacity buses which will also help decongest roads.<br />
<br />
Those opting for V-VMP will have to deposit documents relating to the vehicle at the recycling centre. After verification, the owner will get a V-VMP certificate and the price for the scrap. Then he has to provide the certificate to the dealer while buying the new vehicle to avail of the discount.<br />
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The govt is planning to add a new clause and you may not get any sop for replacing your old car

<ul class="summary-list"><li>Madeline Rector is an <keyword id="1150" type="POSITION" weightage="60" keywordseo="Artist">artist</keyword> in Texas who specializes in magazine paper mosaics and collages.</li><li>She rips out solid colors from <keyword id="108439" type="PERSON" weightage="60" keywordseo="magazines">magazines</keyword> and organizes them into piles based on color.</li><li>Madeline sketches a <keyword id="16884" type="ENTERTAINMENT" weightage="60" keywordseo="portrait">portrait</keyword> onto a black canvas and glues the magazine scraps onto the canvas to create a <keyword id="532357" type="COMPANY" weightage="60" keywordseo="Mosaic">mosaic</keyword> portrait.</li></ul><p><em>Following is a transcript of the <keyword id="21654" type="COMPANY" weightage="60" keywordseo="video">video</keyword>.</em></p><p>This artist creates mosaic portraits using magazine scraps. Madeline Rector rips out solid colors from magazines...And organizes them into piles based on color. Each portrait starts with a sketch on canvas. Madeline uses a photo of the person for reference. Then she'll carefully select and glue on the magazine scraps. Depending on the light, you'll see the texture of the scraps more. Her favorite piece is of her grandfather. He's the one who gave her all the magazines.</p>

Artist creates mosaic portraits using magazine scraps

<ul><li>The decisions are unilateral, illegal and unconstitutional and will be challenged as such by the National Conference, said former CM Omar Abdullah.</li><li>It will have catastrophic consequences for the subcontinent, said Mehbooba Mufti, former CM. </li><li>Both Abdullah and Mufti have been under house arrest since Sunday night.</li></ul>Kashmir’s political leaders have expressed their anger and anguish at government’s move to take away the state’s special status and dissolve it into two union territories. <br /><br />Former Chief Ministers Omar Abdullah and Mehbooba Mufti who were placed under house arrest expressed their shock and feeling of betrayal as the bill was moved in the parliament. <br /><br />Union Home Minister <keyword id="6355521" type="PERSON" weightage="20" keywordseo="amit-shah">Amit Shah</keyword> abrogated Article 370 and Article 35A, which does away with the special status given to the state of <keyword id="23412" type="CITY" weightage="20" keywordseo="Jammu-Kashmir">Jammu &amp; Kashmir</keyword>. Opposition leaders in the state and former Chief Ministers Omar Abdullah and Mehbooba Mufti expressed their shock and feeling of betrayal as the bill was moved in the parliament. Both the leaders have been under house arrest since Sunday night.<br /><br /><strong>Betrayal of trust: Omar Abdullah</strong> <br /><br />Former Chief Minister and leader of the Jammu &amp; Kashmir National Conference Abdullah released a statement soon after the amendment was moved in the Parliament. <br /><br />“Government of India’s unilateral and shocking decisions today are a total betrayal of the trust that the people of Jammu and Kashmir had reposed in India when the state acceded to it in 1947. The decision will have far reaching and dangerous consequences. This is an aggression against people of the state as had been warned by an all parties meeting in Srinagar yesterday. <br /><br />GOI has resorted to deceit and stealth in recent weeks to lay ground for these disastrous decisions. Our darkest apprehensions have been unfortunately come true after the GOI and its representatives in J&amp;K lied to us that nothing major was planned. The announcement was made after the entire state, particularly the Kashmir Valley, was turned into a garrison. Those of who gave the democratic voice to the people of Jammu &amp; Kashmir, are incarcerated as lakhs of armed security personnel have been put on the ground. <br /><br />The scrapping of Articles 370 and 35A raise fundamental questions on the State’s accession because that was done on the very terms enunciated in these articles. The decisions are unilateral, illegal and unconstitutional and will be challenged as such by the National Conference. A long and tough battle lies ahead, we are ready for that.”<br /><br /><strong>Darkest day in Indian democracy: Mehbooba Mufti</strong><br /><br />Mehbooba Mufti, leader of the Jammu and Kashmir Peoples Democratic Party and former Chief Minister of Jammu &amp; Kashmir took to Twitter and said, “Today marks the darkest day in Indian democracy. Decision of J&amp;K leadership to reject two-nation theory in 1947 and align with India has backfired. Unilateral decision of GOI to scrap Article 370 is illegal and unconstitutional which will make India an occupational force in J&amp;K.”<br /><br />Mufti further wrote, “It will have catastrophic consequences for the subcontinent. GOIs intentions are clear. They want the territory of J&amp;K by terrorising its people. India has failed Kashmir in keeping its promises. People like us who placed faith in Parliament, the temple of democracy have been deceived. Those elements in J&amp;K who rejected the constitution &amp; sought resolution under the UN have been vindicated. This will exacerbate the alienation Kashmiris feel.”<br /><br /><strong>Constitution has been torn: Ghulam Nabi Azad</strong><br /><br />Voicing his dissent in the parliament, leader of Opposition Ghulam Nabi Azad said, “Kashmir is under curfew and the state looks like its in a war situation. We stand by the constitution of India. We would lay down our life for it, but I condemn the act of those who burn or tear the constitution.”<br />

‘Betrayal, catastrophe, dangerous’ J&K leaders livid as India scraps Article 370 and bifurcates the state

New Delhi, <keyword id="2518729" type="General" weightage="50" keywordseo="union-road-transport" source="Orion">Union Road Transport</keyword> and Highways Minister <keyword id="26680" type="General" weightage="80" keywordseo="nitin-gadkari" source="Orion">Nitin Gadkari</keyword> on Thursday said dealers of automobiles should also open <keyword id="14986732" type="General" weightage="20" keywordseo="vehicle-scrapping-facilities" source="Orion">vehicle scrapping facilities</keyword>. Addressing the fifth <keyword id="11938231" type="General" weightage="20" keywordseo="auto-retail-conclave" source="Orion">Auto Retail Conclave</keyword>, Gadkari said the government is encouraging a circular economy, and accordingly the government will give permission to dealers to start vehicle scrapping facilities. <br /><br /> He also noted that India is encouraging use of alternate fuel and biofuel and pointed out that the government is working to make India the largest manufacturer of green hydrogen. <br /><br /> The minister pointed out that India is the fastest growing major economy in the world and <keyword id="128764" type="General" weightage="20" keywordseo="auto-dealers" source="Orion">auto dealers</keyword> will play an important role in making India a USD 5 trillion economy. <br /><br /> India is the fourth largest manufacturer of passenger vehicles and the sixth largest manufacturer of commercial vehicles, he said. <br /><br /> Gadkari said his dream is to make India the top automobile hub in the world <br /><br /> In August 2021, Prime Minister Narendra Modi had launched the National Vehicle Scrappage Policy and had said that it will help phase out unfit and polluting vehicles and also promote a circular economy.

Auto dealers should also open vehicle scrapping facilities: Nitin Gadkari

<ul class="summary-list"><li>The US Navy sold two old aircraft carriers for a cent each to a ship-breaking firm.</li><li>The <keyword id="12256453" type="UNKNOWN" weightage="60" keywordseo="uss-kitty-hawk" source="Orion">USS Kitty Hawk</keyword> and <keyword id="12256454" type="UNKNOWN" weightage="60" keywordseo="uss-john-f-kennedy" source="Orion">USS John F. Kennedy</keyword> had been decommissioned for years.</li><li>They are due to be broken up by a firm in Texas, which can make money from the scrap metal.</li></ul><p>The US Navy sold two aircraft carriers to a ship-breaking company for 1 cent each after decades of service.</p><p>The cut-price fee reflects the fact the company will profit from selling the ship metal for scrap, officials said.</p><p>Naval Sea Systems Command, a US Navy suborganization, said it had agreed to sell the USS Kitty Hawk and the USS John F. Kennedy to International Shipbreaking Limited, which is based in Brownsville, Texas, <a href="https://eu.usatoday.com/story/news/nation/2021/10/03/navy-sells-uss-kitty-hawk-uss-john-f-kennedy-1-cent/5980974001/">USA Today reported</a>.</p><p>Towing and ship-breaking is a costly process, and the Navy has previously paid ISL large sums of money to recycle its ships, <a href="https://myrgv.com/local-news/2021/10/04/decommissioned-kitty-hawk-jfk-to-be-dismantled-in-brownsville/">the Brownsville Herald reported</a>.</p><p>"The contract values reflect that the contracted company will benefit from the subsequent sale of scrap steel, iron, and non-ferrous metal ores," said Alan Baribeau, a spokesman for the Naval Sea Systems Command <a href="https://eu.usatoday.com/story/news/nation/2021/10/03/navy-sells-uss-kitty-hawk-uss-john-f-kennedy-1-cent/5980974001/">in a statement cited by USA Today</a>.</p><p>Both ships were launched in the 1960s and were capable of carrying dozens of aircraft. The Kitty Hawk was deployed in the Vietnam War, and the John F. Kennedy featured in the Gulf War.</p><p>The Kitty Hawk was decommissioned in 2017 and the John F. Kennedy in 2009. Both have spent their time since being maintained in naval yards.</p><p>The ships are due to be towed to Brownsville for scrapping in the coming months, <a href="https://myrgv.com/local-news/2021/10/04/decommissioned-kitty-hawk-jfk-to-be-dismantled-in-brownsville/">an ISL spokesperson told the Brownsville Herald</a>.</p>

The US Navy sold 2 obsolete aircraft carriers to scrap dealers for a cent each

<br />
<span>As part of <keyword id="1929810" type="UNKNOWN" weightage="100" keywordseo="Digital-India">Digital India</keyword> initiative, railways has made <keyword id="6371618" type="UNKNOWN" weightage="100" keywordseo="e-auction">e-auction</keyword> mandatory for scrap auction, even as it made over Rs 3,000 crore from such sales in last fiscal.</span><br />
<br />
<span>"We have switched over to 100% e-auction for sale of scrap. The e-auction has fetched above </span>Rs<span> 3,000 </span>crore<span> revenue in 2014-15," said a senior Railway Ministry official. </span><span>E-auction has enabled prospective scrap purchasers to bid simultaneously on an all-India basis with digital e-payment facility.</span>
<p>
	<br />
	<span>Before making the e-auction mandatory, a pilot project was commissioned by the Southern Railway to sell scrap via online process. </span><span>"Some lacunae were found in the e-auction which were addressed before opting for full-fledged e-auction," said the official.</span></p>
<p>
	Railways sells thousands of tonnes of scrap, including about 15,000 wagons, 1,200 coaches, 80 to 100 locomotives, every year through public auction. <span>Earlier practice was to sell scrap in open auction in the presence of concerned officials but the role of the mafia could not be ruled out.</span></p>
<p>
	"After the introduction of e-auction not only the role of the mafia was eliminated but it has also brought complete transparency in the entire scrap trade," said the official.<span>Encouraged by the response, e-auction is now proposed to be used for leasing of parcels and other commercials contracts also.</span></p>
<p>
	<span>Railways has also started paperless settlement of tenders by enlarging the scope of e-procurement. </span><span>As per the new policy, now any procurement above </span>Rs<span> one </span>lakh<span> will be carried through e-procurement system.<br />
	<br />
	Image credit: Indiatimes</span></p>

Under PM Modi's Digital India initiative, Indian Railways fetches Rs 3,000 crore from scrap e-auction

New Delhi, Jan 19 () Ahead of the budget, stainless steel players have sought  some curative measures like removal of import duty on key raw materials ferro-nickel and stainless steel scrap.
<p> Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget for FY2020-21 on February 1.
</p><p> In order to augment domestic manufacturing, the Indian Stainless Steel Development Association (ISSDA) said it has recommended some curative measures to the government ahead of the budget.
</p><p> In a representation submitted to the finance ministry, the body has sought nil duty on import of key raw materials like ferro-nickel and stainless-steel scrap, it said.
</p><p> "Ferro-nickel and stainless steel scrap are key raw materials which are not available in the country and must necessarily be imported," it said.
</p><p> At present, the basic customs duty on ferro-nickel and stainless steel scrap is 2.5 per cent.
</p><p> Removal of duty on ferro-nickel and stainless steel scrap is a long standing demand and the Ministry of Steel has also at times batted for zero duty on these items.
</p><p> The stainless steel industry meets the bulk of its nickel requirements through ferro-nickel and stainless steel scrap route.
</p><p> "The non-availability of ferro-nickel within the country makes it necessary for domestic stainless steel producers to import this ferro alloy. This is because India is deficient in nickel ore and therefore there is no production on ferro-nickel within the country.
</p><p> The bulk of the ferro-nickel procurement is from non-FTA countries. Even within the FTA countries, nil rate of duty is applicable only to imports from ASEAN countries.
</p><p> Further, FTA partner countries like Japan and Korea are themselves net importers of ferro-nickel given their substantial stainless steel manufacturing capacities. Reduction of basic customs duty (BCD) on ferro nickel will not harm any domestic industry," said.
</p><p> For stainless steel scrap, it said, its availability in the country is extremely limited and bulk of the stainless steel scrap requirement has to be compulsorily imported.
</p><p> Almost 75 per cent of the stainless steel scrap requirement in the country has to be met through imports.
</p><p> Stainless steel, owing to its corrosion resistant characteristic and high strength, has an extremely long life span -- at least 30 years -- as compared to any other substitute material. Most of the growth in stainless steel consumption, the ISSDA said, in the country has come about in the last 10-12 years.
</p><p> It also pointed out that "major stainless steel producing countries like China, Korea, Japan, the EU and USA have zero import duties on stainless steel scrap. From ASEAN and FTA (Japan, Korea) countries while the stainless steel flat products are coming at zero duty, the most essential raw material stainless steel attracts 2.5 per cent duty."
</p><p> ISSDA President K K Pahuja, said, It is necessary to boost domestic manufacturing by reducing high input costs.
</p><p> Despite the brimming global trade challenges, he said, India continues to be the second largest producer and consumer of stainless steel. The demand for stainless steel in India is growing at a compound annual growth rate (CAGR) of 8-9 per cent across an array of applications. However, Indian per capita consumption of stainless steel is 2.5 kg against the world average of 6 kg.
</p> "Moreover, the capacity utilization of the Indian stainless steel manufacturers is stagnant at 60-70 per cent as cheap imports engulf a significant market share. Further, high input costs reduce the competitiveness of domestic players globally.  We urge the government to not see the duty on raw materials as a revenue source, rather consider the larger vision of higher manufacturing growth resulting in job creation," he said.  ABI  MKJ

Stainless steel industry seeks zero duty on ferro-nickel, scrap in upcoming Budget

<ul><li>Prime Minister Narendra Modi addressed the nation late last evening on the Kashmir issue, but didn’t mention when the curfew would be uplifted. </li><li>Kashmiris continue to live in curfew, with no internet, no calls. </li><li>The UN Secretary General too has expressed his concern about the worsening of human rights in <keyword id="23412" type="CITY" weightage="20" keywordseo="Jammu-Kashmir">Jammu &amp; Kashmir</keyword>.</li></ul>For the last five days, Indians have been arguing, joking and debating the abrogation of Article 370, resulting in endless calls, and social media messages. But those who should have had a say in the matter, Kashmiris, are silent. Because, they have been silenced. <br /><br />The Union Home Minister Amit Shah announced in the Rajya Sabha that Article 370 is scrapped. And Kashmir has been on lockdown a day before the announcement, which is August 4. <br /><br />Since Sunday night, internet services have been suspended in Jammu &amp; Kashmir, with a curfew in place since Monday morning (August 5). And, Prime Minister Narendra Modi made no announcement on lifting it in an address to the nation <a href="https://www.businessinsider.in/narendra-modi-address-to-the-nation-live-updates-and-speech-highlights-on-kashmir-news/articleshow/70589852.cms">yesterday</a>, even as he doled out infrastructure and industry benefits. <br /><br />Modi however did promise that he would facilitate Eid celebration. But he did not say how, as the status quo remains in the valley. He did not speak about the communications blackout and transportation issues in the newly formed union territories. <br /><br />This is the case even as Muslims across the country are gearing up to celebrate Eid on August 12. Kashmiris are still not sure about their fate. <br /><br />Social media is filled with messages and pleas from Kashmiris living outside of Jammu &amp; Kashmir hoping for the safety of their family back home. Screenshots of messages are doing the rounds of students and professionals trying to reach out to their parents, but have no response. <br /><br />But the new found constitutional status is not on top of the minds of Kashmiris. A <a href="https://www.indiatoday.in/mail-today/story/kashmir-article-370-revoked-valley-faces-shortage-essential-items-due-curfew-1578458-2019-08-08">shortage of food</a> and other necessities is beginning to worry them as the curfew prevails. Reports say that people are unable to communicate with their neighbours as well.<br /><br />Over a 100 people have been arrested so far. That includes former chief ministers like Mehbooba Mufti, Omar Abdullah as well as Jammu and Kashmir People's Conference leaders Sajjad Lone and Imran Ansari. There is no word from the government on when they would be released, either. <br /><br />António Guterres, the UN Secretary General expressed his concerns over the plight of Kashmiris. A statement released on Thursday by the UN said, “The Secretary-General is also concerned overreports of restrictions on the Indian-side of Kashmir, which could exacerbate the human rights situation in the region.”<br />

It’s been 5 days since Article 370 was scrapped but Kashmiris continue to live in the dark

<ul class="summary-list"><li>NASA has canceled its VIPER moon rover project.</li><li>NASA will still send a spacecraft to the moon and pay a company $323 million for the trip.</li></ul><p>NASA is scrapping a moon rover it spent $450 million to construct, and axing the machine's mission to find water on the moon. </p><p>The agency discontinued the development of VIPER — or Volatiles Investigating Polar Exploration Rover — because it proved exceedingly expensive.</p><p><a target="_blank" class="" href="https://www.nasa.gov/news-release/nasa-ends-viper-project-continues-moon-exploration/#:~:text=Following%20a%20comprehensive%20internal%20review,stand%20down%20on%20the%20mission.">NASA's statement on Wednesday</a> said that the rover was to be scrapped because of "cost increases, delays to the launch date, and the risks of future cost growth."</p><p>It also said that continuing the rover project would result in an "increased cost that threatens cancellation or disruption" to other lunar research missions.</p><p>The rover, a car-sized robot that was supposed to explore the south side of the moon in search of "ice and other potential resources," has already been built, <a target="_blank" class="" href="https://www.nytimes.com/2024/07/17/science/nasa-viper-moon-rover-canceled.html">The New York Times reported</a>.</p><p>However, tests to ensure that it could survive the shaking of the spacecraft and the environment of space have not yet been conducted.</p><p>According to the Times, the agency would save at least $84 million by not conducting the testing and not having to operate the rover on the moon.</p><p>VIPER's launch, which was scheduled for fall 2025, had already been delayed multiple times.</p><p>It was initially set to launch in late 2023. However, that launch was delayed to 2024 to allow more time to test the privately commissioned spacecraft Griffin, which was supposed to carry the rover to the moon.</p><p>Although the rover itself has been scrapped, the Griffin Lander will continue with its journey. </p><p>And NASA will still pay the company that built the spacecraft — the Astrobotic Technology Inc. of Pittsburgh — $323 million for the task, per the Times.</p><p><span>Joel Kearns, deputy associate administrator for exploration in the science directorate,</span><strong> </strong>told The Times that Griffin's landing would still be valuable even without the rover on board. </p><p>NASA maintains that it is "committed to studying and exploring the Moon for the benefit of humanity."</p><p>"The agency has an array of missions planned to look for ice and other resources on the Moon over the next five years," Nicola Fox, an associate administrator in the agency's science mission directorate, said in a statement.</p><p>The statement also added that any US industry and international companies that wish to use VIPER before it is disassembled could contact the agency after July 18.</p><p>News of the rover's scrapping comes as two NASA astronauts <a target="_blank" class="" href="https://www.businessinsider.com/nasa-astronaut-boeing-starliner-good-feeling-be-back-safe-2024-7">remain stuck in space</a> after issues were detected with the spacecraft they went up in — the Boeing Starliner.</p><p>The duo — Suni Williams and Butch Wilmore — arrived at the International Space Station via the Boeing Starliner on June 6 after a series of delays that postponed the craft's launch by a month.</p><p>While they were supposed to stay for only eight to 10 days, they have been stuck on the space station for over a month now, with no return date scheduled.</p><p>Representatives for NASA did not immediately respond to requests for comment from Business Insider sent outside regular business hours.</p>

NASA is scrapping a moon rover that it spent $450 million to build

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0BXZYAHWILA&amp;SMLS=1&amp;RW=1440&amp;RH=715#/SearchResult&amp;VBID=2C0BXZYAH5DLG&amp;SMLS=1&amp;RW=1440&amp;RH=715&amp;POPUPPN=14&amp;POPUPIID=2C0BF1OGBTV5O">REUTERS/Paul Hackett</a></span></p></div><p></p></div></div>George Osborne just stood up to give the 2015 Autumn Statement in the House of Commons - it's an update to the government's tax and spending plans, and the economic projections it's relying on.</p><p>The big news is that <a href="http://www.businessinsider.com/oxford-economics-chart-on-tax-credit-cuts-2015-10">changes to tax credits</a> that George Osborne had planned, which cut the overall amount of support that low-income workers got and tapered it more quickly as recipients earned more, are being scrapped completely.</p><p>Here's what he said:</p><p style="padding-left: 30px;">Because I've been able to announce today an improvement in the public finances, the simplest thing to do is not to phase these changes in, but to avoid them altogether. Tax credits are being phased out anyway as we introduce universal credit. What that means is that the tax credit taper rate and thresholds remain unchanged</p><p>After the House of Lords shot down the tax credit plan some people were expecting the government to do a partial u-turn, phasing the changes in - instead they're being binned. </p><p>However, Osborne says the government will still be running a surplus by the end of the parliament, meaning that he'll have to find savings somewhere else. It's getting <a href="http://uk.businessinsider.com/2015-autumn-statement-preview-2015-11">increasingly difficult to work out where that cash can come from</a>.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/trump-strategy-mocked-insult-obama-white-house-correspondents-dinner-2015-11">The brilliant reason Trump let Obama insult him</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="RuNnRzeDqVjPaTF35sSObyB744XbRKg7" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

AUTUMN STATEMENT: TAX CREDIT CUTS SCRAPPED

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<p class="source"><span><a href="https://www.youtube.com/watch?v=JoHwrgiPrT4">Youtube/Wonkabar007</a></span></p>
<p class="caption">A damaged Rang Rover.</p>
</img></div>
<p></p>
</div></div>The&#xa0;<a href="http://www.businessinsider.com/45-million-worth-of-jaguars-and-land-rovers-are-about-fall-into-the-ocean--and-it-has-happened-before-2015-1" target="_blank">Höegh Osaka&#xa0;cargo ship that nearly capsized </a>off of the southern coast of England earlier this month has been re-floated and towed back to port.
<p>According to the <a href="http://www.bbc.com/news/uk-england-hampshire-31002897" target="_blank">BBC</a>, the Norwegian-owned auto carrier and its cargo of more than 1,200 cars, SUVs, and construction equipment has been unloaded at the docks in Southampton, where the ship's journey originated more than three weeks ago.&#xa0;</p>
<p><span>On Jan. 3, t</span>he Osaka's crew beached the vessel on the Brambles sandbar<span>&#xa0;</span>to prevent the ship from capsizing after it began listing shortly after leaving port.</p>
<p><span>With the ship now secure, the big question is, "What will happen to all those luxury cars and SUVs, worth between $45 to $53 million?"</span></p>
<p></p>
<div class="KonaFilter image-container display-table"><div>
<div class="image on-image">
<p class="source"><span>REUTERS/Peter Nicholls</span></p>
</img></div>
<p></p>
</div></div>
<p>The Osaka's cargo of Jaguars, Land Rovers, Range Rovers, MINIs and even a singular $300,000 Rolls Royce Wraith was destined for the Middle East.</p>
<p>Their destiny is now murkier.&#xa0;</p>
<p><span>"There has been water ingress to the lower car decks," the ship's owner Hoegh Autoliners reported in a statement. </span></p>
<p><span>But the company added that only a small number of vehicles "have been affected by the water ingress."</span></p>
<p></p>
<div class="KonaFilter image-container display-table"><div>
<div class="image on-image">
<p class="source"><span><a href="https://www.youtube.com/watch?v=qic2k0Cpa1g">Youtube/magwaus</a></span></p>
</img></div>
<p></p>
</div></div>
<p>Looking at the condition of the cars that have been driven off of the ship, they appear to be in better shape than expected. &#xa0;Some have emerged completely unharmed, while others have suffered some body damage.&#xa0;</p>
<p>The cars are likely going to be crushed in a scrap yard.</p>
<p>This has happened before.</p>
<p>In 2006, the car carrier <a href="http://www.leftlanenews.com/mazda-begins-destroying-4703-vehicles-from-cougar-ace-accident.html" target="_blank">Cougar Ace</a> - like the Hoegh Osaka - developed a severe list off of the coast of Alaska. On board were 4,700 brand-new Mazdas headed for American dealerships.&#xa0;</p>
<p>According to <a href="http://www.caranddriver.com/features/cougar-ace-the-great-103-million-snafu-at-sea" target="_blank">Car and Driver</a>, the ship's entire cargo of factory-fresh cars was crushed in scrap yards in the Pacific Northwest. The total cost to Mazda and its insurers: $103 million.</p>
<p><span>We've reached out to Jaguar Land Rover for comment on the fate of its cars that were on the <span>Osaka and will update you when we hear back from the company.</span><br /></span></p>
<p><span><span>In the meantime, here are some of the vehicles, with screenshots taken from a YouTube video:</span></span></p>
<h3><strong>This Range Rover Evoque looks dealer-worthy.&#xa0;</strong></h3>
<p></p>
<div class="KonaFilter image-container display-table"><div>
<div class="image on-image">
<p class="source"><span><a href="https://www.youtube.com/watch?v=JoHwrgiPrT4">Youtube/Wonkabar007</a></span></p>
</img></div>
<p></p>
</div></div>
<h3><strong>This purple Jaguar XJL looks like it has emerged undamaged, as well.</strong></h3>
<p></p>
<div class="KonaFilter image-container display-table"><div>
<div class="image on-image">
<p class="source"><span><a href="https://www.youtube.com/watch?v=JoHwrgiPrT4">Youtube/Wonkabar007</a></span></p>
</img></div>
<p></p>
</div></div>
<h3><strong>This Land Rover Defender 90 suffered a few dents - which actually enhance the off-roader's rugged looks.</strong></h3>
<p></p>
<div class="KonaFilter image-container display-table"><div>
<div class="image on-image">
<p class="source"><span><a href="https://www.youtube.com/watch?v=JoHwrgiPrT4">Youtube/Wonkabar007</a></span></p>
</img></div>
<p></p>
</div></div>
<h3>However, the dents on the rear door of this <a href="http://www.businessinsider.com/range-rover-sport-v8-supercharged-review-2014-8" target="_blank">Range Rover Sport</a> are less attractive.</h3>
<p></p>
<div class="KonaFilter image-container display-table"><div>
<div class="image on-image">
<p class="source"><span><a href="https://www.youtube.com/watch?v=JoHwrgiPrT4">Youtube/Wonkabar007</a></span></p>
</img></div>
<p></p>
</div></div>
<h3><strong>This Land Rover Discovery/LR4 still has a protective film covering its hood.</strong></h3>
<h3><strong><div class="KonaFilter image-container display-table"><div>
<div class="image on-image">
<p class="source"><span><a href="https://www.youtube.com/watch?v=JoHwrgiPrT4">Youtube/Wonkabar007</a></span></p>
</img></div>
<p></p>
</div></div></strong></h3>
<h3><strong>Not all of the cars spotted today were JLR cars. A nearly perfect MINI also made an appearance.</strong></h3>
<p></p>
<div class="KonaFilter image-container display-table"><div>
<div class="image on-image">
<p class="source"><span><a href="https://www.youtube.com/watch?v=JoHwrgiPrT4">Youtube/Wonkabar007</a></span></p>
</img></div>
<p></p>
</div></div>
<p>Here's the complete video:</p>
<div><div>
 
</div></div>
<p class="embed-spacer"></p>

$53 Million In Shipwrecked Luxury Cars Will Be Scrapped

<ul class="summary-list"><li><keyword id="11893281" type="UNKNOWN" weightage="60" keywordseo="walmart" source="Orion">Walmart</keyword> is scrapping quarterly bonuses for store <keyword id="11910848" type="UNKNOWN" weightage="60" keywordseo="workers" source="Orion">workers</keyword>, per a Wall Street Journal report.</li><li>The company said these bonuses would be folded into employees' <keyword id="6356975" type="UNKNOWN" weightage="60" keywordseo="wages" source="Orion">wages</keyword> to make compensation consistent.</li><li>Last week, Walmart raised its <keyword id="11975834" type="UNKNOWN" weightage="60" keywordseo="minimum-wage" source="Orion">minimum wage</keyword> by $1.</li></ul><p>Walmart is scrapping quarterly bonuses for store workers.</p><p>The <keyword id="11893588" type="UNKNOWN" weightage="100" keywordseo="retail" source="Orion">retail</keyword> giant told staff it would scrap the bonuses, known as "MyShare," at the end of the company's fiscal year, on January 31, 2022, according to an internal memo seen by <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fwalmart-to-end-quarterly-bonuses-for-store-workers-11631190896%3Fst%3Dws872k4zzeakbbi%26amp%3Breflink%3Ddesktopwebshare_twitter">The Wall Street Journal</a>.</p><p>In the memo, Walmart said quarterly bonuses would be rolled into workers' base pay, per The Journal. A Walmart spokeswoman told The Journal that this would make compensation more consistent for workers. </p><p>Insider contacted Walmart for confirmation and further comment, but did not immediately hear back.</p><p>These quarterly bonuses have existed for decades, The Journal reported, and are determined by different metrics, including the performance of each store. For example, Q1 2020 MyShare bonuses were based on hours worked and store performance, according to a <a href="https://one.walmart.com/content/dam/us-wire-wm1/documents/company/community/emergency-disaster-preparedness/covid-19/Early_Incentive_Payout_FAQ.pdf">Walmart FAQ</a>.</p><p>The <keyword id="11893589" type="UNKNOWN" weightage="60" keywordseo="news" source="Orion">news</keyword> comes just one week after Walmart announced that it <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fwalmart-gives-raises-to-more-than-565-000-store-workers-11630607667">would raise its minimum wage</a> from $11 an hour to $12 an hour, and raise wages for more than 565,000 store workers. These changes are due to come into force toward the end of the month. </p><p>The company said its overall average wage would reach $16.40 per hour for hourly workers.</p><p>Retail businesses across the US have been <a href="https://www.businessinsider.com/labor-shortage-sign-on-bonus-bonuses-supermarkets-convenience-stores-2021-6">reviewing wages and offering new bonuses or perks</a> to attract and retain workers in a tight labor market.</p><p>Walmart's $1 hourly raise doesn't put it ahead of the pack - rivals Amazon and Target already offer a $15 an hour minimum wage. </p>

Walmart to scrap quarterly bonuses for store workers

<ul><li>Cult.fit fitness center which is run by the startup Cure.fit, will now open five spaces in <keyword id="23412" type="CITY" weightage="20" keywordseo="Jammu-Kashmir">Jammu &amp; Kashmir</keyword>. </li><li>The Indian government recently scrapped Article 370, separating Jammu &amp; Kashmir and Ladakh and turning them into union territories.</li><li><keyword id="3465872" type="PERSON" weightage="20" keywordseo="curefit">Curefit</keyword> was founded in 2016 by Myntra co-founder Mukesh Bansal and former Flipkart Chief Business Officer Ankit Nagori. </li></ul>Indian fitness startup Cure.fit which runs fitness chain Cult.fit, is now all set to open five centres in the newly formed of union territory of Jammu &amp; Kashmir.<br /><br />This comes in days after the Indian government brought the valley under its rule, and divided the state into two union territories. It also scrapped Article 370 and Article 35A which were holding back investments as it forbid anyone who isn’t a Kashmiri, from owning land in the valley. <br /><br />Now, that situation has changed. “We are happy to announce our foray into the newly created union territory of Jammu &amp; Kashmir through cult.fit fitness centres. The recent announcement from the Government of India potentially opens up opportunities for our business growth and also create job opportunities. We intend to foray with five cult.fit fitness centres and keep on working to expand our offerings,” said Ankit Nagori, co-founder, cure.fit.<br /><br />Curefit was founded in 2016 by Myntra co-founder Mukesh Bansal and former Flipkart Chief Business Officer Ankit Nagori. It has fitness centers under the <keyword id="6825388" type="UNKNOWN" weightage="20" keywordseo="cultfit">Cultfit</keyword> brand and a health app called Curefit. It also has diagnostic centers called Carefit and yoga and meditation centers called mindfit. <br /><br />In three years, the startup registered 4 lakh users for curefit, with 180 centers across Bengaluru, Delhi NCR, Mumbai and Hyderabad. All these provide an annual revenue of $100 million. The company now plans to grow to 800 centers by 2020.<br /><br /><strong>See Also:</strong><br /><a href="https://www.businessinsider.in/indian-government-is-recruiting-1300-engineers-and-architects-for-jammu-and-kashmirs-metro-project/articleshow/70582043.cms">Indian government to ‘reorganise’ Jammu and Kashmir — plans to hire 1,300 engineers for its first Metro project</a><br />

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