Empathy, a support platform based in New York, aimed at assisting employees and life insurance beneficiaries coping with the loss of loved ones, has secured $47 million in Series B funding, with Index Ventures leading the investment.

The significance lies in addressing a common gap: while employers offer bereavement leave and life insurers provide settlements, neither directly address the emotional and practical challenges that accompany death.

Empathy, designed as both an employee benefit and a policyholder service, offers support in various aspects, including grief counseling, funeral arrangements, obituary composition, estate management, subscription terminations, and probate proceedings.

Among the investors participating in the funding round are General Catalyst, Entrée Capital, Latitude, Brewer Lane, Allianz, MassMutual Ventures, MetLife, New York Life Ventures, Securian Financial, and Sumitomo.

According to Danny Rimer, a partner at Index Ventures, “There are so many opportunities to really help someone who is grieving, beyond just giving them a lump sum of money and telling them to carry on.”

Finally, the UK pricing details for the all-new Dacia Spring have been unveiled, positioning it as Britain’s most affordable electric car with a starting price of just £14,995. This places the Spring among the top 10 cheapest cars of any type available in the UK.

To put this into perspective, the MG4, recognized as the Affordable Electric Car of the Year in 2023, starts at £26,995, while the Vauxhall Corsa Electric begins at £26,895. Even against petrol-powered superminis like the Hyundai i10, the Spring’s starting price of £14,995 stands out.

The only electric vehicle currently priced lower than the Spring is the Citroen Ami at approximately £8,000, but it’s worth noting that the Ami is classified as a two-seat quadricycle rather than a conventional car.

Pre-orders for the Dacia Spring are now open with a deposit of £99. Early adopters will not only be among the first to receive their Spring in the UK but will also receive £250 to spend on accessories, public charging, or a home wallbox charger through Mobilize Power Solutions. The first deliveries are expected in October.

In terms of powertrains, the Spring offers two options: Electric 45 and Electric 65, producing 44bhp and 64bhp respectively. Both variants are equipped with a 26.8kWh battery, delivering up to 137 miles of range or 186 miles in city driving conditions.

Charging from 20 to 100 percent takes four hours using a standard 7kW charger or 11 hours with a domestic plug socket. DC charging is available for top-spec models, allowing for a 20 to 80 percent charge in just 45 minutes.

The Spring is offered in two trim levels: Expression and Extreme. The entry-level Expression trim includes features such as a seven-inch digital instrument panel, manual air conditioning, cruise control, speed limiter, smartphone holder with USB charge port, and rear parking sensors.

The range-topping Extreme model, priced from £16,995, adds the Electric 65 motor, a 10-inch central touchscreen, wireless smartphone connectivity, electric mirrors and windows, copper accents, and a bi-directional charger.

Additionally, the new Spring boasts enhanced driver assistance features to meet the latest safety standards, including emergency braking, traffic sign recognition, lane assist, and driver attention warning. Dacia has also introduced a ‘My Safety’ button for quick access to driver assistance settings.

Unveiled at the 2024 Geneva Motor Show, the Spring inherits styling cues from the Mk3 Dacia Duster, along with the innovative YouClip system for attaching various accessories inside the cabin.

With 31 liters of interior storage and 308 liters of boot space (expandable to 1,004 liters with the rear seats folded), the Spring offers practicality alongside affordability. Additionally, Dacia offers a flexible ‘frunk’ accessory, providing an extra 30 liters of storage space under the bonnet.

The National Lottery disclosed this Tuesday evening that a winning Lotto ticket worth €1 million was purchased at a store in Oola.

The fortunate individual bought a Lotto Plus 1 Quick Pick ticket on the day of the draw, which took place on Saturday, March 9.

Tom O’Halloran, the shop owner, expressed his delight upon learning that one of his customers struck it rich over the weekend.

“It’s sure to be a day of excitement here in Oola with the big announcement. I think we are all eager for a bit of good news, to be honest, so this really is perfect timing,” said Mr. O’Halloran.

“We have no idea who the winner could even be, but it would be great if it were someone local. Imagine, a big tax-free win of €1 million!”

He continued, “You know what they say – it doesn’t cost a thing to dream, and for one of our customers, the dream of becoming a big Lotto winner has now become reality.”

“The winner will have lots of options for what they can do but the big thing for now is that we hope they check their ticket soon and really enjoy their big news.”

The National Lottery is urging players to carefully check their tickets from the March 9 draw as one player has a ticket worth a life-changing sum.

The Lotto Plus 1 winner is advised to sign the back of their ticket and keep it safe. Ireland’s newest millionaire should make contact with the National Lottery prize claims team on 1800 666 222 or email claims@lottery.ie, and arrangements will be made for them to claim their life-altering prize.

Last year, BYD surpassed Volkswagen to become China’s largest automaker and came close to outselling Tesla in the global race to be the leading producer of full-electric vehicles.

The Chinese automaker’s triumph over these two giants sheds light on why BYD prefers not to be likened to the Tesla of China.

“BYD boasts a diverse portfolio of brands and technologies, including our cutting-edge plug-in hybrids, whereas Tesla focuses solely on electric cars under a single brand. We are distinctly different entities,” explained BYD Europe CEO Michael Shu in an interview with Automotive News Europe.

With over two decades of experience at BYD since 1999, Shu shared his insights on various subjects with ANE Associate Publisher and Editor Luca Ciferri and Automobilwoche Publisher and Editor Burkhard Riering at the 2024 Geneva auto show.

The Mega Millions jackpot surged to $792 million, marking it as the second-largest jackpot prize of the year thus far, as no tickets matched all six numbers drawn on Tuesday night. However, the eventual winner will receive a substantially reduced payout after accounting for taxes.

Here are the key points:

• If a winner emerges in the upcoming draw, they have the option to receive the $792 million jackpot spread over 30 annual payments or opt for a lump sum cash prize of $381.8 million, which is typically the preferred choice.
• The lump sum payment would decrease to $290.2 million after a mandatory federal tax withholding of 24%.
• Further reducing the winnings, the winner might face a federal marginal rate of up to 37%, depending on their taxable income, resulting in a final payout of $240.5 million.
• Opting for the installment route would lead to annual payments of $26.4 million, which would decrease to $16.63 million if the 37% federal marginal rate is applied.
• Additionally, the winner may be subject to additional taxes from their state of residence, with some states like New York imposing a 10.9% tax on lottery winnings, while others like Texas, Florida, and California do not.

The odds of winning the Mega Millions jackpot stand at an astounding 1-in-302.6 million, even worse than the already slim odds of 1-in-292.2 million for the Powerball jackpot.

In terms of background:

• The Powerball prize increased once more on Monday night as no tickets matched all six numbers drawn. The largest jackpot of the year thus far was the $842.4 million Powerball prize won by a single ticket holder from Michigan on New Year’s Day.

The next drawing for the Mega Millions jackpot is scheduled for Friday night, while Powerball will hold a drawing for a $559 million jackpot on Wednesday night.

Alaska Airlines revealed on Tuesday that Flight 1282, which experienced a door plug detachment shortly after takeoff on January 5, was scheduled for maintenance that same evening, as stated by the airline.

While Alaska Airlines did not specify the reason for taking the plane out of service, it informed The New York Times, which initially reported the planned safety inspection, that the decision stemmed from two separate warning lights alerting the crew to a potential pressurization issue over the preceding 10 days.

Jennifer Homendy, chair of the National Transportation Safety Board (NTSB), informed CNN on January 8 that the aircraft had experienced pressurization concerns before the door plug incident.

Consequently, the safety agency intended to investigate Alaska Airlines regarding the matter. However, the NTSB later clarified that it believed these pressurization warnings were unrelated to the door plug detaching mid-flight.

According to the NTSB, the warning signals began appearing shortly after the plane’s delivery in early December, with the most recent occurrence taking place the day before the door plug incident.

Max Tidwell, Alaska Airlines’ vice president for safety and security, explained to The New York Times that the airline did not view the indicator lights as significant enough to warrant grounding the aircraft earlier without passengers onboard.

Deferred maintenance, like in this case, is both common and permissible. Moreover, the aircraft completed 154 successful flights before the door plug detachment.

In its preliminary findings, the NTSB suggested that Boeing may have overlooked the required bolts in the door plug, which are intended to prevent such incidents.

Although it remains uncertain whether an expedited maintenance schedule would have identified this issue, the airline restricted the plane from operating long-haul flights over water due to engineers’ concerns about the warning lights, as reported by The New York Times.

Worldcoin, a platform founded by OpenAI CEO Sam Altman, aimed at creating a globally inclusive identity and financial network, faced a setback in Spain as its legal efforts to defend its operations in the country were unsuccessful. Despite filing an injunction against the Spanish Data Protection Agency’s (AEPD) directive to halt data collection, the court rejected Worldcoin’s plea.

On March 6, the AEPD issued a temporary order forbidding Worldcoin from collecting data in Spain for three months. This action came in response to complaints alleging that users in Spain were unable to withdraw consent, and the company had purportedly gathered data from minors.

Worldcoin disputed these claims, accusing the AEPD of bypassing EU laws and spreading inaccurate information. They asserted that the regulator had ignored their communications for months.

Following the suspension of its operations in Spain, Worldcoin’s parent company, Tools for Humanity, filed a lawsuit against the AEPD’s order on the same day. They sought to suspend the regulator’s directive, arguing that it contradicted EU legislation, including the General Data Protection Regulation (GDPR).

However, on March 11, the Supreme Court of Spain denied Worldcoin’s injunction request, emphasizing the importance of safeguarding public interest. The court also expressed doubts about the accuracy of the information provided by Worldcoin regarding user consent.

Spain is not the first country where Worldcoin has encountered regulatory scrutiny. In January 2024, the Hong Kong Office of the Privacy Commissioner for Personal Data initiated an investigation into the company’s local operations due to concerns about data privacy. Prior to this, Worldcoin’s services were suspended in Kenya and India.

The controversy surrounding Worldcoin revolves around its utilization of biometric scanning devices known as “orbs.” Users sign up for the service through an app and must undergo an eye scan at a designated facility.

Upon verification, their identities are linked to unique biometric data, which can be independently verified using Worldcoin’s services. Users who activate their accounts in the World App application are compensated with Worldcoin’s WLD token.

Ikea, the Swedish furniture giant, is set to continue its trend of reducing prices in the U.S. as inflationary pressures begin to alleviate.

Recently, Ikea announced a price reduction on hundreds of products and pledged to “keep lowering prices in the U.S. in the upcoming months,” as stated in a release provided to FOX Business. These products have been featured in the “new lower price” section on Ikea’s website.

Expanding its price-cutting strategy globally, Ikea plans to continue this trend throughout 2024, leveraging the easing costs of transportation and raw materials.

Tolga Öncü, head of retail at Ingka Group, Ikea’s largest store owner, revealed in January that the company intends to intensify its investment in price reductions over the next few months. Their aim is to revert the company’s prices to their pre-pandemic levels adjusted for inflation by the end of 2025.

Öncü highlighted the positive economic trends and decreasing raw material prices in the supply chain, which are expected to counter the price increases observed since 2022.

He emphasized efforts to reduce operational costs and enhance efficiency through technology investment, employee training, store repurposing, and the introduction of more affordable services.

In Germany, approximately 2,000 products witnessed a price reduction averaging 20% in January, Öncü disclosed. Similarly, in Sweden, prices were lowered for 2,500 products, while over 1,500 products received price cuts in Canada.

During an interview with CNBC, Öncü noted that the price reductions implemented in Europe in September led to increased customer traffic and higher sales volume.

Ooredoo Group, a telecommunications company in the Middle East, has partnered with Chinese technology giant Huawei to transition towards the era of ‘5.5G’, also known as 5G-Advanced, by upgrading its core networks in key markets.

The collaboration, formalized during the Mobile World Congress Barcelona 2024, aims to modernize Ooredoo’s core networks in countries including Qatar, Kuwait, Oman, Iraq, Tunisia, Algeria, and the Maldives.

As per the agreement, Ooredoo and Huawei will work together to enhance all core networks to a 5G core with a service-based architecture.

Aziz Aluthman Fakhroo, CEO of Ooredoo, emphasized the company’s dedication to providing advanced connectivity solutions to enhance customer experiences and meet evolving demands in the digital age.

He highlighted the transition to the 5.5G era as a significant milestone in this endeavor and underscored the importance of the partnership with Huawei in delivering top-notch services across their markets.

Ooredoo highlighted the critical role of the core network in linking various industry networks, communication networks, and the internet, enabling the introduction and commercialization of new services.

The announcement was made by George Gao, President of Huawei’s cloud core network product line, who stated that 2024 marks the commencement of commercialization for 5.5G or 5G-Advanced.

Huawei is confident that the investments made by operators in deploying 5G network infrastructure will be safeguarded with the advent of 5G-Advanced. Cao Ming, President of Huawei’s wireless solution, previously affirmed during a media roundtable at Huawei’s 14th Global Mobile Broadband Forum in October 2023 that 5G-Advanced networks will leverage existing 5G Standalone (SA) networks, minimizing the need for significant investments in new network architecture.

Ming also assured that Huawei is collaborating with its partners to ensure seamless compatibility between future 5.5G applications, devices, and services and current 5G networks.

Switzerland’s attorney-general has commenced a criminal investigation into alleged breaches of its Russia sanctions by an undisclosed company, signaling a readiness to prosecute entities engaging in business dealings with Moscow.

The company purportedly violated Swiss regulations by utilizing overseas subsidiaries, according to the attorney-general’s office, which declined to disclose the identity of the company or the sector involved.

This action against the Swiss-based entity marks a significant development in sanctions enforcement within Switzerland, a nation renowned for its banking confidentiality and commodity trading, having never before publicly acknowledged launching a criminal inquiry into trade with Russia.

Following a request from the State Secretariat for Economic Affairs (Seco), the government body responsible for enforcing sanctions, the attorney-general assumed jurisdiction over the case and initiated criminal proceedings.

The Swiss sanctions, enacted in response to Vladimir Putin’s full-scale invasion of Ukraine in 2022, mirror measures implemented by other Western nations.

While Seco oversees the monitoring of sanctions violations, the attorney-general can commence criminal proceedings “if the seriousness of the offense warrants it,” stated Linda von Burg, a spokesperson for the attorney-general.

Seco also requested the prosecutor to initiate criminal proceedings against a second company for similar violations, but the attorney-general declined, determining that it did not constitute “a case of special significance.”

“The Federal Prosecutor’s Office has assumed responsibility for one of these proceedings and declined to take over the second,” von Burg confirmed.

Patrick Eberhardt, an international trade and trade finance partner at the law firm Eversheds Sutherland in Geneva, described the decision as a “turning point” in sanctions enforcement in Switzerland.

“Swiss authorities are indicating to the market that they will not tolerate circumvention through subsidiaries in locations like Dubai,” he remarked. “Furthermore, by referring the matter to the federal prosecutor, Seco is signaling its intention to pursue substantial penalties, possibly even prison sentences.”

Seco informed the FT that it is currently probing “several cases” of suspected sanctions breaches by foreign subsidiaries of Swiss companies, refraining from disclosing the parties involved due to ongoing proceedings.

In total, Seco has initiated 49 administrative proceedings concerning potential violations of Russia-related sanctions.

Numerous Swiss commodity traders have utilized foreign subsidiaries in the United Arab Emirates to facilitate continued trade with Russia since the conflict’s onset, as reported by the FT.

Under Swiss regulations, “legally independent” subsidiaries of Swiss companies abroad or Swiss citizens residing outside the country are exempt from sanctions compliance unless prosecutors identify additional “points of contact” with Switzerland, such as payments or directives originating from the country.