Business
Survey: Majority of CISOs Aren’t Getting Cyber Investments They Want
Montana marijuana businesses can breathe a bit easier after local elections Tuesday, when voters rejected a proposed ban on adult-use businesses in the state’s most populous county.
State residents also approved 12 cannabis-related tax measures in various counties, signaling further voter approval of the marijuana industry.
In Yellowstone County, which is home to Billings and is easily the state’s most heavily populated county, voters nixed a proposed ban on recreational marijuana sales.
The ballot question lost, with 58% of voters opposed, according to data from the Montana Secretary of State’s office.
In addition, various sales-tax measures for both adult-use and medical marijuana – all amounting to about a 3% tax – were approved in Big Horn, Blaine, Carbon, Gallatin, Lake, Lewis and Clark, Powell, Ravalli, Richland, Roosevelt, Rosebud and Silver Bow counties.
“It will give more stability to the industry here,” Rich Abromeit, the president of the pro-marijuana campaign Better for Montana, said of the election results.
Abromeit, a longtime medical marijuana businessman and owner of Montana Advanced Caregivers in Yellowstone County, helped organize 22 local cannabis companies to stave off the countywide ban.
“We’re feeling really good. The voters have been heard, for a fourth time here in Yellowstone County,” Abromeit said. “The people want cannabis in their communities.”
Montana voters approved adult-use marijuana legalization in November 2020. Recreational sales began in January of this year.
The 2022 MJBiz Factbook projects adult-use sales this year will total $215 million to $265 million and reach as much as $300 million by 2026.
Industry sees one loss
Despite Tuesday’s string of victories, there was one industry loss in western Montana’s Granite County, where 53% of voters backed a ban on adult-use sales.
But industry insiders noted the county’s tiny population of 3,325.
Also, Tuesday’s voter turnout of only 1,355 in Granite County suggested the ban could be reversed in the future. The result also affects only one adult-use retailer in that county, industry insiders said, so it’s not viewed as a hefty blow to the marijuana community.
The added sales taxes at the local level, meanwhile, aren’t a welcome development for all business owners, said Kate Cholewa, a lobbyist and spokesperson for the Montana Cannabis Industry Association.
“It’s one of those things where cannabis businesses are just like any other business: They have to decide to what extent they pass that on to the consumer or to what extent they eat it,” Cholewa said of the 12 county cannabis taxes that were on the ballot.
“This does create more pressure in a time of great pressure.”
Additional growth?
Pepper Petersen, the president and CEO of the Montana Cannabis Guild, said he believes the election results Tuesday will spur more industry growth in the state.
Petersen predicted that more operators would expand into Yellowstone County now that the marijuana landscape appears to be on more solid footing for future development.
“I think we’ll see some more expansion. Some of the franchises that don’t have a footprint in Yellowstone County, I think we’ll see them reach in,” Petersen said, noting that it’s the state’s biggest population center and has the highest marijuana sales taxes and revenues.
And Petersen said he expects companies such as Abromeit’s – which has been based in Yellowstone County for years – to begin expanding as well.
“We’ll see the Yellowstone County businesses expanding, now that they have more assurances they won’t be shut down,” Petersen said.
“They’ve been waiting for some finality before a lot of people make additional investments, and this vote (Tuesday) may have given that to them.”
More changes ahead?
Looking forward, all three industry officials said they expect future tweaks to Montana’s marijuana laws.
Abromeit said he’s been talking with other cannabis company owners about taking further action to change, for instance, a portion of state law that prevents business owners from selling their cannabis companies.
Abromeit also wants to target a residency requirement for marijuana business ownership that he said is behind the times.
Cholewa said there’s been discussions to change the state law that allows for local cannabis ballot measures to go before voters essentially every election.
She noted the law could create constantly shifting regulatory landscapes if marijuana advocates and prohibitionists keep changing local statutes back and forth every few years.
“Should every municipality and county in Montana have the right to pull the rug out from under extraordinary investments every two years?” Cholewa asked rhetorically. “That’s what happened in Granite County.”
“There’s a conversation – not in the Legislature yet – but whether we want to bring that to the Legislature to talk about that.”
Source: https://mjbizdaily.com/montana-marijuana-industry-notches-victories-in-local-elections/
Business
Jio’s 1,600-Satellite LEO Constellation Gets Technical Green Light
Reliance Jio has crossed a significant milestone in its space connectivity ambitions after its proposal to deploy a Low Earth Orbit (LEO) satellite constellation of around 1,600 satellites received a positive technical assessment from the Indian National Space Promotion and Authorisation Centre (IN-SPACe).
The evaluation, conducted jointly by IN-SPACe, the Indian Space Research Organisation (ISRO), and the Wireless Planning and Coordination (WPC) wing of the Department of Telecommunications, reportedly concluded that Jio’s proposed system meets the required technical standards and is comparable to leading global satellite broadband networks.
India’s Indigenous LEO Satellite Vision
Under the proposal, Reliance Jio plans to deploy between 1,600 and 1,650 satellites in Low Earth Orbit at an altitude of around 650 kilometres.
The planned constellation is expected to provide high-speed satellite connectivity across India, with approximately 32 satellites visible from any location at a given time. The company aims to roll out the network within the next two to three years, subject to regulatory approvals.
According to industry estimates, the satellite system could deliver 4.5 to 5 terabits per second (Tbps) of total data capacity, making it one of the largest satellite broadband projects proposed in India.
The project is expected to require an investment of $10–15 billion (approximately ₹95,000 crore to ₹1.42 lakh crore), reflecting the scale of infrastructure needed for satellite manufacturing, launches, ground stations, and user terminals.
Regulatory Process Moves Forward
Following the successful technical review, the proposal is expected to move into the next phase of regulatory approvals.
The government may now assist Jio in securing orbital slots, coordinating spectrum usage, and filing applications with the International Telecommunication Union (ITU), the global body responsible for managing satellite orbit and frequency allocations.
Obtaining orbital rights remains a critical step, as Low Earth Orbit has become increasingly competitive due to the growing number of satellite broadband projects being planned worldwide.
Officials also indicated that the proposed satellite architecture has been designed to coexist with future Indian LEO constellations, allowing multiple domestic operators to share orbital resources efficiently.
Broadband, Mobile Connectivity, and Strategic Applications
Jio plans to use the satellite network to provide a range of communication services, including satellite broadband, mobile backhaul, enterprise connectivity, and direct-to-device (D2D) satellite communication, particularly in remote and underserved regions where conventional telecom infrastructure is limited.
The company also intends to establish 20 to 22 ground stations across India to support network operations.
Apart from commercial telecommunications, officials have highlighted the project’s potential strategic importance. A domestically developed satellite constellation could strengthen India’s communication infrastructure, reduce dependence on foreign satellite operators, and support national security requirements.
Reports suggest preliminary discussions are underway regarding the possibility of integrating defence-related payloads into some satellites, enabling both civilian and strategic use.
Major Step for India’s Space and Telecom Sectors
Industry analysts view the technical clearance as an important milestone in India’s expanding private space ecosystem. If Jio secures the remaining regulatory approvals and international orbital clearances, the project could become the country’s first large-scale indigenous LEO satellite broadband network.
The initiative also aligns with India’s broader efforts to expand digital connectivity while strengthening its presence in the global satellite communications market.
Business
Alleged Crores Pharma Scam Mastermind Arrested from Surat
After evading law enforcement for nearly 13 years, an accused linked to a large-scale pharmaceutical fraud case has been arrested by Delhi Police from Surat, Gujarat. The suspect is alleged to have orchestrated a series of financial scams involving fake identities, forged documents, and dishonoured cheques used to procure high-value pharmaceutical raw materials.
Authorities say the accused, identified as Himmat Singh Lodha, is believed to have defrauded multiple pharmaceutical companies in Delhi of goods worth approximately ₹98 lakh before disappearing and remaining underground for years.
Fake Business Deals and Dishonoured Cheques Used in Fraud
Investigators claim the accused posed as a legitimate pharmaceutical trader and placed bulk orders for expensive drug ingredients, offering post-dated cheques as payment security.
In one documented case from 2013, he allegedly obtained around 550 kilograms of Gliclazide, a diabetes-related pharmaceutical ingredient, valued at over ₹26 lakh. When suppliers attempted to encash the cheques, they were reportedly returned with the remark “account closed.”
Following the transaction, the accused allegedly vacated his office and rented residence and disappeared without settling payments. He was later declared a proclaimed offender in 2016 after repeatedly failing to appear before court proceedings. Authorities had also issued a reward for information leading to his arrest.
Multiple Identities and Repeated Fraud Pattern
Police investigations further link the accused to another cheating case dating back to 2012, where he allegedly used a fake identity, “Kailash Jain,” to obtain a large consignment of Ambroxol HCL, a pharmaceutical compound used in cough medications. The value of that consignment was estimated at around ₹72 lakh.
Officials believe the accused followed a consistent modus operandi—posing as a credible businessman, securing high-value goods on deferred payment terms, and then disappearing after delivery while shutting down business operations.
Investigators suspect that forged business records, fake company credentials, and fabricated financial histories were used to build trust with suppliers and gain access to expensive raw materials.
Multi-State Surveillance Leads to Arrest in Surat
A special Crime Branch team tracked the accused through coordinated surveillance efforts across multiple cities, including Mumbai, Ahmedabad, and Surat. After nearly a month of technical monitoring and intelligence gathering, officials located and arrested him from a residential area in Surat.
Authorities also revealed that the accused had been involved in property-related activities while staying under the radar to avoid detection.
Growing Threat of Corporate Identity Fraud
The case highlights a rising trend of organised financial fraud targeting industries that rely heavily on trust-based transactions and deferred payments. Experts note that criminals increasingly exploit gaps in corporate verification systems by using fake GST registrations, temporary offices, and forged documentation to appear legitimate.
Cybercrime and financial fraud specialists warn that such schemes are becoming more complex with the widespread availability of digital business tools, making it easier to create convincing but fraudulent corporate identities.
Experts Urge Stronger Due Diligence in High-Value Transactions
Experts, including former IPS officer and cybercrime specialist Prof. Triveni Singh, emphasize the need for stricter verification procedures in commercial dealings. He noted that relying solely on paperwork or digital business profiles can expose companies to significant financial risk.
Authorities and industry experts recommend physical verification of business operations, bank account validation, and detailed background checks before engaging in high-value or deferred-payment transactions—particularly in sectors like pharmaceuticals, where single consignments can involve transactions worth crores.
Business
EU Pressure Builds on Google as Regulators Face Calls for Massive Fine Over Search Practices
A growing coalition of European industry groups is intensifying pressure on regulators to take decisive action against Google over allegations of unfair search practices that could reshape competition rules across the region’s digital economy.
Investigation Under Digital Markets Act Gains Momentum
The case is being examined by the European Commission under the European Union’s landmark Digital Markets Act (DMA), introduced to curb the dominance of major technology platforms and ensure fair competition.
Launched in March 2024, the investigation focuses on whether Google has been prioritising its own services in search results, potentially disadvantaging rival businesses that rely on online visibility to reach customers.
Industry Groups Demand Swift Action
Several prominent European organizations have jointly urged regulators to conclude the probe without further delay. They argue that prolonged investigations allow alleged anti-competitive practices to continue, putting European companies—especially startups—at a disadvantage.
Signatories include the European Publishers Council, the European Magazine Media Association, the European Tech Alliance, and EU Travel Tech.
In a joint statement, these groups warned that delays in enforcement are affecting innovation, profitability, and growth prospects for regional businesses competing in digital markets.
Google Denies Allegations
Google has rejected claims of bias, stating that its search algorithms are designed to deliver the most relevant and useful results to users. The company has also proposed adjustments to address regulatory concerns.
However, critics argue that these changes are insufficient and fail to address the core issue of market dominance.
Potential Billion-Euro Penalties
If found in violation of the DMA, Google could face significant financial penalties. Under EU rules, fines can reach a substantial percentage of a company’s global turnover, potentially amounting to billions of euros.
Regulators may also impose corrective measures requiring changes to business practices, which could have long-term implications for how digital platforms operate in Europe.
Wider Implications for Big Tech
The case highlights ongoing tensions between European regulators and major U.S. technology firms. In recent years, the EU has taken a more aggressive stance in enforcing competition laws, aiming to create a level playing field for local businesses.
A final ruling against Google could set a major precedent, influencing future enforcement actions and shaping the regulatory landscape for global tech companies operating within Europe.
As scrutiny intensifies, the outcome of the investigation is expected to play a critical role in defining the future of digital competition across the European Union.
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