Partial legalization opens up further business areas with social clubs in the cannabis industry. Getty Images/Jena Ardell; Collage Dominik Schmitt
Cannabis social clubs have creative names similar to barbershops: High Society, Hanf im Glück, Broccoli Buddies, Starbuds. The puns seem endless. However, social clubs don’t have much more room for creativity than when it comes to naming. The Cannabis Act (CanG) has been in force since April 1st and thus partial legalization. This requires strict regulations. Bubatz yes, but bureaucratic.
Cannabis Social Club Rules
In principle, anyone can start a club. Cannabis social clubs are considered clubs. However, the clubs are not allowed to grow or distribute cannabis near schools, playgrounds and youth centers. You must keep a minimum distance of 200 meters. In addition, club founders are only allowed to accept 500 members. Anyone 18 years of age or older may apply for membership. The club then decides: take or toss. Members who are younger than 21 are allowed to consume a maximum of 30 grams per month. All other members a maximum of 50 grams of cannabis per month, but a maximum of 25 grams per day.
The clubs themselves set prices per gram and membership. According to the Cannabis Price Index 2024, memberships can range from 60 euros to 160 euros. In Berlin, however, they start from just twelve euros. A gram of cannabis is expected to cost around seven euros in clubs.
Club founders face major challenges: managing members and data, finding cultivation areas and, above all, planning smartly. Because the clubs are not allowed to make a profit from cannabis. They have to cover their costs through annual membership fees and gram prices for the cannabis. The end result is a zero-sum game.
It is precisely in these challenges that startups see opportunities to penetrate markets. Three examples, three business models:
Manage it: Das Startup 420Cloud
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Japanese Yen Hits Lowest Level in Over Three Decades Against US Dollar, Euro – Concerns Over Negative Aspects Rise
Around 11:40 am, the Japanese currency fell 0.60% to 156.60 yen per dollar, after hitting the greenback to 156.82 yen, which was not seen since May 1990.
The Japanese currency also fell 0.63% to 168.08 yen per euro, after reaching new lows since August 2008 against the single European currency, at 168.35 yen.
Despite the inexplicable fall in its currency, which worries the country’s authorities, Japan’s central bank did not change its key rate on Friday, keeping it between 0% and 0.1%, and kept a relatively dovish tone.
Japanese Finance Minister Shunichi Suzuki confirmed earlier on Friday that while the depreciation of the yen has “positive and negative aspects”, the government is currently “concerned about its negative aspects”.
“It’s no surprise that the yen is weaker after the announcement”, including “no change in communication on the date of the next rate hike”, explains Derek Halpenny, of MUFG.
This means that “there will be a need for intervention from the Ministry of Finance”: “this is likely to happen very soon, or even today”, believes the analyst.
Japan sold more than $60 billion of its foreign exchange reserves three times, in September and October 2022, to support its currency.
In addition, the BoJ raised its inflation forecasts on Friday, but more because of the recent rise in oil prices and the spread of the effects of the government’s anti-inflation measures than because of the start of a “virtuous circle” between hikes wages and prices. .
The institute now expects consumer prices (excluding fresh produce) to increase by 2.8% for the 2024/25 financial year that began on April 1, compared with 2.4% during its previous forecast in January. The BoJ is targeting stable inflation of 2% excluding fresh products.
The yen could sink further with the publication later in the session of the CTP price index in the United States in March, the preferred barometer of the American Central Bank (Fed) on inflation.
The Federal Reserve meets on Tuesday and Wednesday to decide on its future monetary policy.
Scope Markets’ Joshua Mahonny says “expectations for a Federal Reserve rate cut in September appear to have faded,” and “fuzzy inflationary pressures” after reduced expectations of “seven rate cuts expected this year ” to reduce.
At the IMF, Brazil and France promote global taxes on the richest
Washington. The international community must do more to ensure that the world’s richest companies and individuals pay their “fair” share of taxes, the finance ministers of Brazil and France said on Wednesday.
Brazil, which this year chairs the group of the world’s 20 largest economies (G20), has been pushing for the group to adopt a joint stance by summer to prevent tax evasion by billionaires.
“Fair international taxation is not just an issue for progressive economists, but a key concern at the very heart of current macroeconomic management,” said Brazilian Finance Minister Fernando Haddad during a meeting of the International Monetary Fund (IMF) in Washington.
“Without improved international cooperation, those at the top (on the wealth scale) will continue to find ways to evade existing tax systems” because “without cooperation there is a limit to what states can do,” Haddad insisted.
He asked countries to promote “fair, transparent, efficient and more progressive tax systems” so that the system is “fairer.”
Along the same lines, French Finance Minister Bruno Le Maire reiterated at the meeting his calls to create a global minimum tax and take strong measures against tax evasion.
France is among the world’s most developed economies that support a global minimum tax rate of 15 percent on large companies, and already applies a minimum tax to global tech giants.
“The future of the world cannot be a race to the bottom,” Le Maire said. “This also applies to taxes.”
In January, the European Union introduced a minimum tax rate of 15 percent for multinationals in its 27 member countries.
According to the Organization for Economic Cooperation and Development (OECD), a global minimum tax could generate an additional $200 billion in revenue each year.
Le Maire also called on the richest people in the world. “Everyone has to pay their fair share of taxes,” he said.
Taking into account that there are about 3,000 ultra-rich people in the world, a 2 percent tax would produce additional income of about 250 billion dollars, according to French economist Gabriel Zucman.
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– 2024-04-26 10:43:36
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At the IMF, Brazil and France promote global taxes on the richest