Source: Toyota
Headline: Toyota Woven City, a Test Course for Mobility, Celebrates the Completion of Phase 1 Buildings
It was from the stage of the CES 2025 in Las Vegas that Toyota Motor Corporation Chairman Akio Toyoda announced the completion of building construction at Toyota Woven City―from the very spot where in 2018, he declared Toyota’s goal to transform into a mobility company, and in 2020, shared with the world his intention to develop Woven City, a test course for mobility.
By Gizem Nisa Cebi
The BBC has removed its documentary Gaza: How to Survive a Warzone from iPlayer after it was revealed that its teenage narrator is the son of a Hamas official.
The broadcaster stated that it was conducting “further due diligence” following mounting scrutiny.
The film, which aired on BBC Two last Monday, follows 13-year-old Abdullah Al-Yazouri as he describes life in Gaza.
However, it later emerged that his father, Ayman Al-Yazouri, serves as the Hamas Deputy Minister of Agriculture in Gaza.
In a statement yesterday, the BBC defended the documentary’s value but acknowledged concerns.
“There have been continuing questions raised about the programme, and in light of these, we are conducting further due diligence with the production company,” the statement said.
The revelation sparked a backlash from figures including Friday Night Dinner actress Tracy-Ann Oberman, literary agent Neil Blair, and former BBC One boss Danny Cohen, who called it “a shocking failure by the BBC and a major crisis for its reputation”.
On Thursday, the BBC admitted that it had not disclosed the family connection but insisted it followed compliance procedures. It has since added a disclaimer acknowledging Abdullah’s ties to Hamas.
UK’s Culture Secretary Lisa Nandy said that she would discuss the issue with the BBC, particularly regarding its vetting process.
However, the International Centre of Justice for Palestinians urged the broadcaster to “stand firm against attempts to prevent firsthand accounts of life in Gaza from reaching audiences”.
Others also defended the importance of the documentary made last year before the sheer scale of devastation by the Israeli military forces was exposed — and many months before the ceasefire came into force on January 19.
‘This documentary humanised Palestinian children’
Chris Doyle, director of the Council for Arab-British Understanding (CAABU), criticised the BBC’s decision.
“It’s very regrettable that this documentary has been pulled following pressure from anti-Palestinian activists who have largely shown no sympathy for persons in Gaza suffering from massive bombardment, starvation, and disease,” Middle East Eye quoted him as saying.
Doyle also praised the film’s impact, saying, “This documentary humanised Palestinian children in Gaza and gave valuable insights into life in this horrific war zone.”
Journalist Richard Sanders, who has produced multiple documentaries on Gaza, called the controversy a “huge test” for the BBC and condemned its response as a “cowardly decision”.
Earlier this week, 45 Jewish journalists and media figures, including former BBC governor Ruth Deech, urged the broadcaster to pull the film, calling Ayman Al-Yazouri a “terrorist leader”.
The controversy underscores wider tensions over media coverage of the Israel-Gaza war, with critics accusing the BBC of a vetting failure, while others argue the documentary sheds crucial light on Palestinian children’s suffering.
Pacific Media Watch comments: The BBC has long been accused of an Israeli-bias in its coverage of Palestinian affairs, especially the 15-month genocidal war on Gaza, and this documentary is one of the rare programmes that has restored some balance.
Translartion. Region: Russians Fedetion –
Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.
The work is being carried out on the instructions of the President.
The planned amount of funding for the implementation of long-term projects for the social development of economic growth centers in the Far Eastern regions has been increased from 41.4 billion to 73.3 billion rubles. The decree on this was signed by Prime Minister Mikhail Mishustin. The decision will guarantee federal co-financing of projects implemented within the framework of the Far Eastern concession.
The funds will be allocated from the federal budget in 2027–2039 and will be used to co-finance the regions’ expenses when implementing concession agreements, the term of which exceeds the period of validity of budget commitment limits.
The activities planned using the increased funding include the construction of an embankment in Khabarovsk Krai, the creation of the Mine Town Park in Vladivostok, as well as an innovative scientific and technological center on Russky Island, the construction of a bridge across the Bira River in Birobidzhan, the reconstruction of the Birobidzhan-Ungun-Leninskoye highway, and the modernization of outdoor lighting in the city of Svobodny in Amur Oblast and in the city of Chita in Zabaikalsky Krai.
“By the Government’s decision, we will secure funding obligations for five Far Eastern regions in the amount of almost 32 billion rubles for 12 years, starting in 2027. We will take them into account when forming the federal budget for the corresponding periods,” Mikhail Mishustin noted atGovernment meeting on February 20.
The Far Eastern concession mechanism is one of the main instruments for implementing plans for social development of economic growth centers in the Far East regions. With the help of such a mechanism, the state guarantees companies a return on investment and minimizes risks. The Government is conducting this work on the instructions of the President.
The document will be published.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Source: GlobalData
New energy vehicle market poised for growth driven by technological innovations, says GlobalData
Posted in Automotive
The automotive industry is undergoing a significant transformation, with hybrid and electric vehicles (EVs) at the forefront of this change. The new energy vehicle (NEV) market is dynamic in nature and is poised for growth as economic conditions improve and technological innovations continue to emerge, says GlobalData, a leading data and analytics company.
According to GlobalData, the Battery Electric Vehicle (BEV) market in Europe and the Asia-Pacific (APAC) region experienced a period of stagnation in 2024; however, a robust rebound is projected for 2025.
Madhuchhanda Palit, Automotive Analyst at GlobalData, comments: “The positive outlook is supported by declining interest rates and the introduction of more competitive vehicle offerings. In particular, government policies in China, including the purchase tax exemption extension until 2027 for NEVs, are expected to invigorate the market, with BEVs poised to play a dominant role in both the short and long term.”
Moreover, recent upgrades to emission regulations, which impose stricter standards, will serve as significant catalysts for the adoption of NEVs. For example, India plans to implement the Corporate Average Fuel Economy (CAFE) phase 3 regulations in 2027 and phase 4 in 2032. These stringent fleet carbon dioxide (CO2) limitations will compel original equipment manufacturers (OEMs) to either enhance their internal combustion engine (ICE) powertrains or increase the sales of EVs within the passenger vehicle sector.
Additionally, significant policy changes, particularly in China, are influencing the market dynamics. The purchase tax exemption and the introduction of a dual-invoice system for swappable battery vehicles are expected to enhance the appeal of EVs.
Palit adds: “Government incentives, such as tax rebates and subsidies, play a crucial role in encouraging the adoption of EVs, as seen in the success stories of Norway and Denmark. In the US, the ongoing dilemma about policy change might create tricky and unfavorable conditions for domestic automakers and establish market dominance for Tesla.”
Technological advancements are pivotal in driving the market forward. Toyota‘s launch of the world’s first hydrogen hybrid vehicle and CATL’s unveiling of the “Freevoy” supercharging hybrid battery exemplify the industry’s commitment to innovation. These developments, along with the standardization of hybrid technology by automakers like Toyota and Honda, are making new energy vehicles more accessible and appealing to consumers. The expansion of charging infrastructure and government incentives further supports the growth, addressing range anxiety, and increasing overall awareness of the benefits of NEVs among consumers.
Palit concludes: “The future of hybrids and EVs looks bright, driven by a combination of favorable economic conditions, strategic policy changes, and breakthrough technological advancements. As the market share for ICEs declines, the rise of new energy vehicles is a testament to the industry’s adaptability to sustainable transportation solutions. Ongoing innovations in technology and infrastructure promise a greener and more efficient automotive landscape.”
Source: China State Council Information Office 3
He’s arrogant. He’s rebellious. He’s becoming the most powerful being in creation, and he’s about to wreak havoc on heaven.
Based on the Chinese classic novel Journey to the West, the opera production, The Monkey King, will have its world premiere at the San Francisco Opera House on Nov 14.
As a major production for the 2025-2026 season of the San Francisco Opera, the opera will run for eight performances, bringing the legendary story of the Monkey King to global audiences.
Monkey King is a beloved figure and has inspired countless interpretations.
A monkey born from stone, Sun Wukong (the Monkey King) is determined to find immortality for his tribe. Many scoff at his aspirations, but he is set on proving them wrong with his signature cunning and charm. He wins every battle against legendary warriors, but the respect he longs for is always eluding him. What will it take for the gods to recognize him as an equal?
The Monkey King is a heroic-themed opera created by composer Huang Ruo, who was born in China and now lives in New York, with a libretto by Chinese-American playwright David Henry Hwang. The opera, co-commissioned by the San Francisco Opera, is based on the opening chapters of Journey to the West.
Armstrong Music Arts Management Ltd, an international classical music agency and production management company, has been invited to lead the global operation of the opera. The creation of the opera not only marks a spectacular appearance of Chinese culture on the international stage but also builds a new bridge for cultural exchange between China and the world.
In 2016, the San Francisco Opera premiered the opera Dream of the Red Chamber. Armstrong Music Arts Management Ltd served as the global adviser and Chinese co-producer for Dream of the Red Chamber and co-produced the work with Beijing Poly Theatre Management Ltd in 2017. The opera was performed six times at the Poly Theatre in Beijing, Meixi Lake Grand Theatre in Changsha, Hunan province, and Qintai Grand Theatre in Wuhan, Hubei province. After the success of Dream of the Red Chamber, San Francisco Opera’s general director Matthew Shilvock commissioned the creation of The Monkey King.
Asked why he decided to create this opera, composer Huang explained that during a Halloween celebration in the pandemic, he saw his child dressed as a Western superhero. This made him think about the abundance of Western superheroes in the United States, while Asia lacked similar heroes for children to dress up for Halloween. This inspired him to create The Monkey King.
The opera, lasting about two and a half hours, will be performed in both Chinese and English. It combines elements of puppetry, dance, Peking Opera, and other Chinese art forms to tell the story of how a monkey born from a stone becomes the king of the monkey tribe and challenges the Dragon Palace and the gods of the heavens.
The cast is star-studded, with each lead performer excelling in their respective artistic fields, bringing immense vitality to this opera that merges Eastern and Western cultures. Tenor Wang Kang will portray the Monkey King; tenor Konu Kim will play the Jade Emperor; and soprano Zhang Meigui will portray Guanyin. The cast includes several Asian actors who also performed in Dream of the Red Chamber.
Source: China State Council Information Office 2
A growing number of jobseekers are extending their career boundaries to more cutting-edge areas thanks to the development of digital economy, and embracing flexible jobs breaking the stereotyped notion of labeling them as low-income or with lower working skills. The new trend makes experts to call for the working rights protection of these flexibly employed and secure the sustainable and healthy development of the thriving job sector.
Lin Qin, 28, is among the nation’s growing population of seeking or taking new types of flexible jobs, with these jobs incubated by information technology and digital economy development.
Li, who offers online consultancy services on AI technology to some small-sized companies after quitting his job as a cloud-computing engineer in August, said that it’s no longer a shame taking flexible jobs.
“I get more free time to arrange my working plans, and the income is no less than my previous job, roughly 20,000 yuan ($2,800) per month,” he said.
A recent report by the recruitment portal Zhaopin and Jinan University in the southern province of Guangdong shows that the proportion of job hunters for new types of flexible jobs bounced back to a high point of 36.4 percent last year at Zhaopin’s platform, with the number seeing a continuous drop from 2019 to 2021 due to people’s concerns of the economy amid the COVID-19 epidemic.
The report classifies the current new types of flexible jobs into two categories: one is location-based, with registered flexible workers taking online orders but serving in a specific real-world location, such as ride-hailing drivers and food delivery workers; while the other is cloud-based, with all services fulfilled online by workers ranging from online lecturer to livestreamer and online salesperson.
The report observed that cloud-based flexible jobs are more lucrative to young people, females and those with higher education backgrounds.
According to the report, youths aged between 21 and 25 take the largest proportion of jobseekers competing for cloud-based flexible job openings at Zhaopin’s platform, which is about 45.2 percent.
Female job hunters show higher preference, accounting for 56.1 percent of the total seeking flexible jobs. The number is 12.2 percentage points higher than males, as cloud-based flexible jobs have lower requirements of physical strength but better ability of communicating and teamwork, the report said.
Tian Xiaomin, 31, working as an accountant at a pressing house in Shanghai, is a part-time online lecturer of English language. She said that the job earns her extra income of 3,000 to 5,000 yuan per month with the payment fluctuating based on her class hours.
“I’ve taken the part-time flexible job since 2023 out of my interest. It’s very common to see a ‘slashie’ nowadays who won’t confine to one single job but take flexible work in spare time. One of my friends is a fitness trainer at weekends while a financial analyst at workdays,” she said.
Feng Shuaizhang, dean of the Institute for Economic and Social Research of Jinan University, said that the recovering economy and flourishing digital economy, platform economy and sharing economy have created more flexible job opportunities.
More jobseekers recognize the benefits of working as new types of flexible workers, which offer them personal fulfillment and quality life.
Li Qiang, vice-president of Zhaopin, noticed that flexible job openings are not limited to labor-intensive ones, but require higher working skills or professionalism of workers with the combination of digital technology and traditional industries.
“For example, the development of AI technology gives birth to some new flexible jobs requiring people to have AI knowledge or digital skills,” he said, adding that employers have also digitalized their recruitment channels with big data or AI tools to help them match flexible workers with the job openings.
However, Feng, the dean, called for more sound working rights protection to people taking new types of flexible jobs by perfecting the law or regulations on labor relations, using smart tools like algorithm and big data to balance the benefits between employers and flexible workers.
He also suggested improving flexible workers’ awareness of getting social security and enhancing the working skills training or services to the flexibly employed.
Source: China State Council Information Office
The expanded pro-consumption policy, which comprises measures such as subsidies for digital products and home appliances, is driving significant sales growth and deeper market engagement for international brands doing business in China, which is benefiting both retailers and consumers, market insiders and experts said.
The “two new” policy — focusing on large-scale equipment renewal and consumer product trade-ins — has been broadened to further stimulate demand for high-end and energy-efficient products. In January, a series of new measures were introduced to expand the scope of the consumer goods trade-in program.
Leading global brands are actively leveraging these measures to strengthen their market presence.
Home appliance maker Dyson has participated in trade-in subsidy programs across multiple cities.
In Shanghai, more than 60 Dyson products were included in the city’s green smart home appliances subsidy program, offering consumers additional discounts across both online and offline channels, including WeChat mini-programs, JD, Tmall and Douyin.
The company increased its investment in in-store activities, media promotions and strategic channel marketing, contributing to strong sales growth, according to Dyson China. The company reported particularly high demand for its air purifier models during the period.
A manager at Dyson’s Shanghai IAPM Mall store said that the subsidies significantly boosted consumers’ enthusiasm, particularly during major shopping events such as the National Day Golden Week in October and Singles’ Day in November.
“The government subsidy program in Shanghai has greatly encouraged consumer spending,” said the manager surnamed Chen.
“To meet rising demand, we expanded our staff capacity. We’re pleased that Dyson will continue to participate in the program this year, benefiting both consumers and businesses.”
China’s leading home appliance retailer Suning has also reported a significant boost in sales thanks to the policy, reflecting the strong performance of international brands benefiting from these initiatives.
Since the launch of the national subsidy program in 2024, Suning has recorded major sales growth across multiple categories.
Sales of Samsung refrigerators increased by 73 percent year-on-year, while sales of Samsung garment care machines surged by 116 percent, according to Suning.
Siemens range hoods saw a 192 percent sales increase, and A.O. Smith gas-fired boilers recorded 96 percent year-on-year growth.
Min Qi, general manager at Suning’s store platform business division, said: “The measures have accelerated the release of consumption potential. International home appliance brands have actively participated in the subsidy program, providing consumers with a wider range of products and more diverse shopping experiences.”
With the measures being increasingly favorable to energy-efficient and smart products, consumers are showing greater interest in high-end, intelligent digital devices and home appliances, Suning said.
Since the policy’s implementation last year, Suning has recorded over 150 percent year-on-year growth in home appliance trade-ins.
International brands have responded by increasing their investment in product offerings and consumer experiences. For example, Samsung met with Suning in January to refine store layouts, plan new product launches and optimize terminal construction for 2025.
In February, Suning and BSH Home Appliances — a home appliance manufacturer whose brands include Bosch and Siemens — set a cooperation target of 4.5 billion yuan ($620 million) for this year, focusing on expanding trade-in programs and enhancing joint product launches.
Source: China State Council Information Office 2
The world’s first autonomous container ship, “Zhifei” has accumulated more than 48,000 nautical miles of navigation off the coast of east China, during which it made over 1 million independent decisions, according to the ship’s developer.
The 300-TEU container ship, delivered in 2022, has been put into service at the port of Qingdao in east China’s Shandong Province. It carried out 353 voyages last year, transporting a total of 80,800 TEUs of cargo. Its maximum single-journey distance covered 89 nautical miles.
Sailing at a speed of 12 knots, the ship is equipped with advanced assisted driving, remote control, and fully autonomous navigation systems, according to Navigation Brilliance (Qingdao) Technology Co., Ltd., a national high-tech enterprise for intelligent shipping.
Zhu Shenchao, deputy general manager of the company, said that through high-precision positioning with BeiDou and 5G communication technology, “Zhifei” had achieved full-process autonomous navigation from berth to berth.
Compared to traditional ships, Zhu said, “Zhifei” had 30 percent less crew members, decreased the risk of human error by 80 percent, and saved approximately 200,000 yuan (about 27,468 U.S. dollars) in comprehensive operating costs each month.
In collaboration with the China Waterborne Transport Research Institute under the Ministry of Transport, the company has received approval from the Shandong Maritime Safety Administration to participate in the construction of the country’s first intelligent ship offshore testing area, covering a water area of 220 square nautical miles.
In the test area, the autonomous vessel has completed over 3,000 collision avoidance simulation tests under complex meteorological conditions. Its error rate was 0.02 percent.
Rising labor cost is a challenge for the traditional shipping industry. According to industry insiders, labor costs now accounts for approximately one-third of the operating costs for bulk carriers of 10,000 tonnes or larger.
“Intelligent shipping is not merely about replacing human roles, but about making shipping safer and more efficient. This is the essential path for China to transform from a major shipping nation to a strong maritime power,” said Jiang Haiying, chairman of Navigation Brilliance.
The company plans to focus on the high-end intelligent vessel market such as liquefied natural gas carriers, and aims to assist in the updating traditional ships through modular technology output.
US Senate News:
Source: United States Senator Joni Ernst (R-IA)
WASHINGTON – The U.S. Senate Committee on Small Business and Entrepreneurship, led by Chair Joni Ernst (R-Iowa), advanced a pair of bipartisan bills to reform the Small Business Administration (SBA) disaster loan process, a key bill to fix the broken federal workforce, and the committee rules.
“I am proud to see the Small Business and Entrepreneurship Committee continue to work in a productive and bipartisan manner to make life better for Main Street,” said Chair Ernst. “The burdensome and bloated bureaucracy is costly to taxpayers and hurts small businesses. We are enacting long-overdue reforms to ensure Washington better serves the American people, especially in their time of need.”
The three bills that passed out of committee were:
Chair Ernst’s Returning SBA to Main Street Act, which relocates 30% of SBA D.C. headquarters employees across the country to be closer to the Americans they serve.
The bipartisan Disaster Loan Accountability and Reform Act, led by Senator Ted Budd (R-N.C.),which strengthens oversight, financial safeguards, and transparency within the SBA’s disaster loan account.
The bipartisan SBA Disaster Transparency Act, led by Senators Tim Scott (R-S.C.) and Adam Schiff (D-Calif.), which reforms SBA disaster loan programs by requiring public reports.
Source: China State Council Information Office
The Hong Kong Exchanges and Clearing Limited (HKEX) announced Friday that it would enhance the securities market stock settlement fee structure to boost market efficiency.
The improved rules removed the current minimum and maximum fee components, and adjusted the ad valorem rate to 0.42 bps for each trade. The new fee structure is expected to take effect in June this year.
Based on HKEX data, about 77 percent of all securities trades conducted between 2019 and 2024 would benefit from lower fees under the new structure.
HKEX Chief Operating Officer Vanessa Lau said that the change was part of the company’s ongoing initiatives to elevate the breadth and depth of the securities market, reinforcing Hong Kong’s position as a premier financial center.
Hong Kong’s stock market saw widespread gains on Friday, with the benchmark Hang Seng Index surging some 4 percent to hit a new high in almost three years.
Source: China State Council Information Office
The China Securities Regulatory Commission (CSRC), the country’s top securities regulator, on Friday reaffirmed its zero-tolerance towards illegal operations in the capital market, and pledged to continue strengthening law enforcement to promote the healthy development of the sector.
In 2024, the CSRC handled 739 cases and handed down a total of 592 punishment decisions, with aggregate penalties reaching 15.3 billion yuan (about 2.13 billion U.S. dollars), which was more than double the total reported the previous year, Li Ming, vice chairman of the SCRC, told a press conference.
The regulator has also doubled its efforts to crack down on what it calls the “most intolerable” illegal operations, which include fraudulent issuance, financial fraud, the illegal reduction of holdings, and market manipulation, according to Li.
Last year, the CSRC investigated and handled a total of 135 violations of information disclosure rules, an increase of 17 percent year on year and the highest number among all case types, he said.
He Yanchun, an official with the CSRC, noted that listed firms are excellent representatives of Chinese enterprises, and only a very small number are involved in fraudulent activity.
It is expected that a certain number of financial fraud cases will be uncovered in the coming period, but this will not affect the trend of the high-quality development of China’s capital market, He said. “We firmly believe that the overall quality and investment value of Chinese listed companies will continue to improve.”
In the future, the CSRC will continue to severely punish fraudulent issuance, financial fraud, and market manipulation, and further enhance law enforcement in the capital market, according to Li.
Source: GlobeNewswire (MIL-OSI)
Toronto, Feb. 21, 2025 (GLOBE NEWSWIRE) — Faircourt Asset Management Inc., as Manager of the Faircourt Fund (CBOE:FGX), is pleased to announce the monthly distribution payable on the Shares of the below listed Fund.
| Faircourt Funds | Trading Symbol | Distribution Amount (per share/unit) | Ex-Dividend Date | Record Date | Payable Date | |
| Faircourt Gold Income Corp. | FGX | $0.024 | February 28, 2025 | February 28, 2025 | March 14, 2025 | |
Faircourt Asset Management Inc. is the Investment Advisor for Faircourt Gold Income Corp.
This press release is not for distribution in the United States or over United States wire services.
For further information on the Faircourt Funds, please visit www.faircourtassetmgt.com or
please contact 1-800-831-0304.
You will usually pay brokerage fees to your dealer if you purchase or sell Shares of the Fund on the CBOE Canada Exchange or other alternative Canadian trading system (an “exchange”). If the Shares are purchased or sold on an exchange, investors may pay more than the current net asset value when buying Shares of the Fund and may receive less than the current net asset value when selling them.
There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in the public filings available at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
US Senate News:
Source: United States Senator for Kansas – Jerry Moran
WASHINGTON – U.S. Senator Jerry Moran (R-Kan.) – chairman of the Commerce Subcommittee on Aviation, Space and Innovation – questioned President Trump’s nominee to be the Deputy Secretary of Transportation, Steven Bradbury, about the importance of flight safety, a strong aviation workforce and the Essential Air Service program.
“We made significant attempts in the FAA’s aviation rulemaking role to improve the ability for the FAA to timely provide answers and provide technical standards to enable new innovation in aviation,” said Sen. Moran. “I come from the Air Capital of the World where we manufacture many of the planes that are flown today – general aviation and commercial. The challenges we face in keeping up with technology and safety are significant.”
“Essential Air Service is a hugely significant component,” continued Sen. Moran. “Kansas has five airports that utilize Essential Air Service. We are one of the most prolific Essential Air Service states in the country.”
Click HERE to watch Sen. Moran Question the Nominee
Source: The White House
SUBJECT: America First Investment Policy
By the authority vested in me as President by the Constitution and the laws of the United States of America, I hereby direct the following:
Section 1. Principles and Objectives. America’s investment policy is critical to our national and economic security. Welcoming foreign investment and strengthening the United States’ world-leading private and public capital markets will be a key part of America’s Golden Age. The United States has the world’s most attractive assets, in technology and across our economy, and we will make it easier for our overseas allies to support United States jobs, United States innovators, and United States economic growth with their capital.
Investment by United States allies and partners can create hundreds of thousands of jobs and significant wealth for the United States. Our Nation is committed to maintaining the strong, open investment environment that benefits our economy and our people, while enhancing our ability to protect the United States from new and evolving threats that can accompany foreign investment.
Investment at all costs is not always in the national interest, however. Certain foreign adversaries, including the People’s Republic of China (PRC), systematically direct and facilitate investment in United States companies and assets to obtain cutting-edge technologies, intellectual property, and leverage in strategic industries. The PRC pursues these strategies in diverse ways, both visible and concealed, and often through partner companies or investment funds in third countries.
Economic security is national security. The PRC does not allow United States companies to take over their critical infrastructure, and the United States should not allow the PRC to take over United States critical infrastructure. PRC-affiliated investors are targeting the crown jewels of United States technology, food supplies, farmland, minerals, natural resources, ports, and shipping terminals.
The PRC is also increasingly exploiting United States capital to develop and modernize its military, intelligence, and other security apparatuses, which poses significant risk to the United States homeland and Armed Forces of the United States around the world. Related actions include the development and deployment of dual-use technologies, weapons of mass destruction, advanced conventional weapons, and malicious cyber‑enabled actions against the United States and its people. Through its national Military-Civil Fusion strategy, the PRC increases the size of its military-industrial complex by compelling civilian Chinese companies and research institutions to support its military and intelligence activities.
Those Chinese companies also raise capital by: selling to American investors securities that trade on American and foreign public exchanges; lobbying United States index providers and funds to include these securities in market offerings; and engaging in other acts to ensure access to United States capital and accompanying intangible benefits. In this way, the PRC exploits United States investors to finance and advance the development and modernization of its military.
Sec. 2. Policy. (a) It is the policy of the United States to preserve an open investment environment to help ensure that artificial intelligence and other emerging technologies of the future are built, created, and grown right here in the United States. Investment in our economy from our allies and partners, some of whom have tremendous sovereign wealth funds, supports the national interest. My Administration will make the United States the world’s greatest destination for investment dollars, to the benefit of all of us.
(b) Yet for investment in United States businesses involved in critical technology, critical infrastructure, personal data, and other sensitive areas, restrictions on foreign investors’ access to United States assets will ease in proportion to their verifiable distance and independence from the predatory investment and technology-acquisition practices of the PRC and other foreign adversaries or threat actors.
(c) The United States will create an expedited “fast-track” process, based on objective standards, to facilitate greater investment from specified allied and partner sources in United States businesses involved with United States advanced technology and other important areas. This process will allow for increased foreign investment subject to appropriate security provisions, including requirements that the specified foreign investors avoid partnering with United States foreign adversaries.
(d) My Administration will also expedite environmental reviews for any investment over $1 billion in the United States.
(e) The United States will reduce the exploitation of public and private sector capital, technology, and technical knowledge by foreign adversaries such as the PRC. The United States will establish new rules to stop United States companies and investors from investing in industries that advance the PRC’s national Military-Civil Fusion strategy and stop PRC-affiliated persons from buying up critical American businesses and assets, allowing only those investments that serve American interests.
(f) The United States will use all necessary legal instruments, including the Committee on Foreign Investment in the United States (CFIUS), to restrict PRC-affiliated persons from investing in United States technology, critical infrastructure, healthcare, agriculture, energy, raw materials, or other strategic sectors. My Administration will protect United States farmland and real estate near sensitive facilities. It will also seek, including in consultation with the Congress, to strengthen CFIUS authority over “greenfield” investments, to restrict foreign adversary access to United States talent and operations in sensitive technologies (especially artificial intelligence), and to expand the remit of “emerging and foundational” technologies addressable by CFIUS.
(g) To reduce uncertainty for investors, reduce administrative burden, and increase Government efficiency, my Administration will cease the use of overly bureaucratic, complex, and open-ended “mitigation” agreements for United States investments from foreign adversary countries. In general, mitigation agreements should consist of concrete actions that companies can complete within a specific time, rather than perpetual and expensive compliance obligations. More administrative resources, in turn, will be directed toward facilitating investments from key partner countries.
(h) The United States will continue to welcome and encourage passive investments from all foreign persons. These include non-controlling stakes and shares with no voting, board, or other governance rights and that do not confer any managerial influence, substantive decisionmaking, or non-public access to technologies or technical information, products, or services. This will allow our cutting-edge businesses to continue to benefit from foreign investment capital, while ensuring protection of our national security.
(i) The United States will also use all necessary legal instruments to further deter United States persons from investing in the PRC’s military-industrial sector. These may include the imposition of sanctions under the International Emergency Economic Powers Act (IEEPA) through the blocking of assets or through other actions, including actions pursuant to Executive Order 13959 of November 12, 2020 (Addressing the Threat From Securities Investments That Finance Communist Chinese Military Companies), as amended by Executive Order 13974 of January 13, 2021 (Amending Executive Order 13959 — Addressing the Threat From Securities Investments That Finance Communist Chinese Military Companies) and Executive Order 14032 of June 3, 2021 (Addressing the Threat From Securities Investments That Finance Certain Companies of the People’s Republic of China), and actions pursuant to Executive Order 14105 of August 9, 2023 (Addressing United States Investments in Certain National Security Technologies and Products in Countries of Concern). Executive Order 14105 is under review by my Administration, pursuant to the Presidential Memorandum of January 20, 2025 (America First Trade Policy), to examine whether it includes sufficient controls to address national security threats.
(j) This review will build on measures taken under my authority in 2020 and 2021 and consider new or expanded restrictions on United States outbound investment in the PRC in sectors such as semiconductors, artificial intelligence, quantum, biotechnology, hypersonics, aerospace, advanced manufacturing, directed energy, and other areas implicated by the PRC’s national Military-Civil Fusion strategy. Covered sectors should be reviewed and updated regularly, including by the Office of Science and Technology Policy. As part of the review, my Administration will consider applying restrictions on investment types including private equity, venture capital, greenfield investments, corporate expansions, and investments in publicly traded securities, from sources including pension funds, university endowments, and other limited-partner investors. It is past time for American universities to stop supporting foreign adversaries with their investment decisions, much as they should stop granting university access to supporters of terrorism.
(k) To further reduce incentives for United States persons to invest in our foreign adversaries, we will review whether to suspend or terminate the 1984 United States-The People’s Republic of China Income Tax Convention. That tax treaty, along with the PRC’s admission to the World Trade Organization and the related undertaking by the United States to accord unconditional Most Favored Nation treatment to goods and services of the PRC, led to the deindustrialization of the United States and the technological modernization of the PRC military. We will seek to reverse both those trends. United States investors will invest in the future of America, not the future of the PRC.
(l) To protect the savings of United States investors and channel them into American growth and prosperity, my Administration will also:
(i) determine if adequate financial auditing standards are upheld for companies covered by the Holding Foreign Companies Accountable Act;
(ii) review the variable interest entity and subsidiary structures used by foreign-adversary companies to trade on United States exchanges, which limit the ownership rights and protections for United States investors, as well as allegations of fraudulent behavior by these companies; and
(iii) restore the highest fiduciary standards as required by the Employee Retirement Security Act of 1974, seeking to ensure that foreign adversary companies are ineligible for pension plan contributions.
Sec. 3. Implementation. The policy set forth in section 2 of this memorandum shall be implemented, to the extent permitted by law and available appropriations, and subject to internal programmatic and budgetary processes, as follows:
(a) With respect to sections 2(a) through 2(k) of this memorandum, the Secretary of the Treasury, in consultation with the Secretary of State, the Secretary of Defense, the Secretary of Commerce, the United States Trade Representative, and the heads of other executive departments and agencies (agencies) as deemed appropriate by the Secretary of the Treasury, and with respect to the authorities of CFIUS in coordination with the members thereof, shall take such actions, including the promulgation of rules and regulations, to support all powers granted to the President by IEEPA, section 721 of the Defense Production Act of 1950, as amended, and other statutes to carry out the purposes of this memorandum.
(b) With respect to section 2(d) of this memorandum, the Administrator of the Environmental Protection Agency, in consultation with the heads of other agencies as appropriate, shall carry out the purposes of this memorandum.
(c) With respect to section 2(l)(i) of this memorandum, the Secretary of the Treasury shall engage as appropriate with the Securities and Exchange Commission and the Public Company Accounting Oversight Board; with respect to section 2(l)(ii) of this memorandum, the Attorney General, in coordination with the Director of the Federal Bureau of Investigation, shall provide a written recommendation on the risk posed to United States investors based on the auditability, corporate oversight, and evidence of criminal or civil fraudulent behavior for all foreign adversary companies currently listed on domestic exchanges; and with respect to section 2(l)(iii) of this memorandum, the Secretary of Labor shall publish updated fiduciary standards under the Employee Retirement Income Security Act of 1974 for investments in public market securities of foreign adversary companies.
Sec. 4. Definition. For purposes of this memorandum, the term “foreign adversaries” includes the PRC, including the Hong Kong Special Administrative Region and the Macau Special Administrative Region; the Republic of Cuba; the Islamic Republic of Iran; the Democratic People’s Republic of Korea; the Russian Federation; and the regime of Venezuelan politician Nicolás Maduro.
Sec. 5. General Provisions. (a) Nothing in this memorandum shall be construed to impair or otherwise affect:
(i.) the authority granted by law to an executive department or agency, or the head thereof; or
(ii.) the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.
(b) This memorandum shall be implemented consistent with applicable law and subject to the availability of appropriations.
(c) This memorandum is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.
Source: The White House
ENSURING AMERICA’S PROSPERITY AND SECURITY: President Trump is committed to making the United States a premier destination for investment while balancing national security interests.
SAFEGUARDING AMERICAN INNOVATION: President Trump is keeping his promise to prevent foreign adversaries from taking advantage of the United States.
Source: GlobeNewswire (MIL-OSI)
TORONTO, Feb. 21, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”) is pleased to announce the distributions for the month of February 2025 for its newest set of Yield Shares ETFs.
The ex-distribution date for all seven Yield Shares ETFs listed in the table below is February 28, 2025.
| ETF Name | Ticker | Distribution per Unit |
Record Date |
Payable Date |
Distribution Frequency |
|
| Costco (COST) Yield Shares Purpose ETF – ETF Series |
YCST | $0.1000 | 02/28/2025 | 03/06/2025 | Monthly | |
| Palantir (PLTR) Yield Shares Purpose ETF – ETF Series |
YPLT | $0.2500 | 02/28/2025 | 03/06/2025 | Monthly | |
| UnitedHealth Group (UHN) Yield Shares Purpose ETF – ETF Series |
YUNH | $0.1100 | 02/28/2025 | 03/06/2025 | Monthly | |
| Coinbase (COIN) Yield Shares Purpose ETF – ETF Series |
YCON | $0.3000 | 02/28/2025 | 03/06/2025 | Monthly | |
| Netflix (NFLX) Yield Shares Purpose ETF – ETF Series |
YNET | $0.1100 | 02/28/2025 | 03/06/2025 | Monthly | |
| Broadcom (AVGO) Yield Shares Purpose ETF – ETF Series |
YAVG | $0.1500 | 02/28/2025 | 03/06/2025 | Monthly | |
| Tech Innovators Yield Shares Purpose ETF – ETF Series |
YMAG | $0.2000 | 02/28/2025 | 03/06/2025 | Monthly | |
About Purpose Investments Inc.
Purpose Investments is an asset management company with more than $23 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.
For further information, please contact: info@purposeinvest.com
For media inquiries, please contact:
Keera Hart
Keera.Hart@kaiserpartners.com
905-580-1257
Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
Source: Office of United States Attorneys
SAN DIEGO – Odyssey Carrillo, a member of the Emerald Hills Bloods gang, was sentenced in federal court today to 168 months in prison for his role in a racketeering conspiracy involving coordinated violent crimes by street gangs.
Carrillo is the ninth and final member of the conspiracy to be sentenced. He pleaded guilty to Conspiracy to Conduct Enterprise Affairs Through a Pattern of Racketeering Activity and Hobbs Act Robbery. According to court documents, the crimes committed by the enterprise included armed robbery, sex trafficking, prostitution, violence and other profit-driven illegal activities.
The defendants were charged with racketeering conspiracy – the statute’s original inspiration was to combat organized-crime syndicates and mobsters. But as criminal street gangs have become more sophisticated and prolific in their illicit business pursuits, this statute has become an effective tool to address all aspects of coordinated violent criminal conduct.
Previously sentenced defendants include Jerome Brunson, Cedric Jordan, Stephen Nathaniel Calhoun, Jr., Carl Moore, Maurice Johnson, Dajay Leon Scott, Taashawn Henderson and Sergio Valentin Louden.
In his plea agreement, Carrillo admitted that he joined the conspiracy that engaged in a pattern of racketeering activity that included robbery, prostitution and sex trafficking. Carrillo further admitted to committing racketeering activity himself, including two specific armed robberies.
Carrillo, Calhoun and Moore admitted to participating in the January 19, 2019, armed robbery of San Carlos Jewelers in San Diego and the February 11, 2019, armed robbery of the Bert Levi Family Jewelers in San Diego.
Calhoun also admitted to robbing the Medicine Shoppe in San Diego by gunpoint on May 20, 2019. Calhoun and Moore both admitted to being Lincoln Park Bloods (LPK) gang members; Carrillo admitted to being an Emerald Hills gang member, a Bloods-aligned street gang that often works cooperatively with LPK. Calhoun and Moore were sentenced by U.S. District Judge Cynthia Bashant to 176 months and 105 months in custody, respectively.
According to their plea agreements, in furtherance of the racketeering conspiracy, Jerome Brunson admitted to being an LPK member who participated in the November 19, 2019, armed robbery of a Jared’s jewelry store in National City. Judge Bashant sentenced Brunson to 57 months in custody. Dajay Scott and Sergio Louden admitted to being LPK members who robbed numerous women of their purses outside nail salons in January 2020. Judge Bashant sentenced Scott and Louden to 48 months and 72 months in custody, respectively.
Cedric Jordan, Maurice Johnson, and Taashawn Henderson admitted to being LPK members who, during the course and in furtherance of the conspiracy, engaged in sex offenses related to sex trafficking and transportation for purposes of prostitution. Judge Bashant sentenced Jordan, Johnson, and Henderson to 63 months, 60 months, and 58 months in custody, respectively.
“Every member of our community is put at risk when criminal street gangs engage in armed robberies, sex trafficking, and other violent criminal acts,” said Acting U.S. Attorney Andrew Haden. “This case is the result of outstanding teamwork and collaboration between our local and federal law enforcement partners. We will continue to hold these violent groups accountable, using the RICO tools at our disposal, to bring justice to crime victims and to make our community safer.”
“Today’s sentencing reflects the hard work, determination, and collaboration of multiple agencies to dismantle an organized crime conspiracy,” said FBI San Diego Special Agent in Charge Stacey Moy. “The violent crime and gang threats are too diverse, too dangerous, and too all-encompassing for any of us to tackle alone. FBI will continue to work with our partners to disrupt violent crime, human traffickers, and violent gangs whose criminal acts devastate our communities.”
This case is being prosecuted by Assistant U.S. Attorneys Mario J. Peia, Katherine E. A. McGrath, and Matthew Brehm.
DEFENDANTS Case Number 21cr2909-BAS
Jerome Brunson Age: 27 San Diego, CA
Cedric Jordan Age: 36 San Diego, CA
Stephen Nathaniel Calhoun, Jr. Age: 24 San Diego, CA
Carl Moore Age: 34 San Diego, CA
Maurice Johnson Age: 34 San Diego, CA
Dajay Leon Scott Age: 26 San Diego, CA
Taashawn Henderson Age: 29 San Diego, CA
Sergio Valentin Louden Age: 36 San Diego, CA
Odyssey Carrillo Age: 23 San Diego, CA
SUMMARY OF CHARGES
Conspiracy to Conduct Enterprise Affairs Through a Pattern of Racketeering Activity – Title 18, U.S.C., Section 1962(d)
Maximum penalty: Twenty years in prison and $250,000 fine
Interference with Commerce by Robbery – Title 18, U.S.C., Section 1951
Maximum penalty: Twenty years in prison and $250,000 fine
Brandishing a Firearm During and In Relation to a Crime of Violence – Title 18, U.S.C., Section 924(c)
Maximum penalty: Life in prison with a seven-year mandatory minimum and $250,000 fine
INVESTIGATING AGENCIES
Federal Bureau of Investigation
San Diego Police Department
San Diego Human Trafficking Task Force
San Diego County Sheriff’s Department
National City Police Department
San Diego County District Attorney’s Office
*The charges and allegations contained in an indictment or complaint are merely accusations, and the defendants are considered innocent unless and until proven guilty.
Source: Office of United States Attorneys
SAN DIEGO – Carey Alice Hernandez was sentenced in federal court today to 70 months in prison for intentionally setting fire to Off Road Warehouse to cover up the disappearance of more than $700,000 while she was in charge of company finances.
In April 2024, after a four-day trial, jurors found Hernandez guilty of malicious destruction of a building by means of fire, witness tampering and making false statements.
In late 2018, the owner of Off Road Warehouse, also known as ORW, which sold and installed automotive parts and gear for off-roading, decided to sell the business located at 7915 Balboa Avenue. The prospective purchaser conducted an audit of ORW, which revealed that between January 2015 and March 2019, while Hernandez was serving as bookkeeper and controller in charge of the company books and records, $744,621 had gone missing from the company.
The jury found that in the early morning hours of March 28, 2019, Hernandez started the fire at Off Road Warehouse, causing the building to burn to the ground.
“This defendant intentionally set a dangerous inferno in what appears to have been an attempt to conceal a massive theft. And then she leaned on her minor daughter to try and cover up her crimes,” said Acting U.S. Attorney Andrew Haden. “Fortunately, no one was physically hurt, but this devastating loss for ORW, and the extraordinary danger of intentionally setting a fire, demanded accountability. And today, justice was served.”
At today’s hearing, U.S. District Judge Jinsook Ohta described the defendant’s actions as “wanton, deliberate and destructive” and “a very dangerous crime” that put firefighters at risk. She noted the crime was made even worse when she asked her daughter to lie for her.
According to evidence presented at trial, surveillance footage showed the defendant driving an SUV with dark rims near her home and the fire scene. The following day, she lied to federal agents and ORW employees, claiming her SUV had light rims. Video footage from the area contradicted her claims about the vehicles rims, leading to convictions for witness tampering and false statements.
ATF’s National Response Team (NRT) investigated this case in conjunction with San Diego’s Metro Arson Strike Team (MAST). The NRT is ATF’s mobile, rapid response team which investigates the cause and origin of large fires, explosions and bombings at the request of local public safety agencies.
“Arson crimes are not victimless,” said Acting ATF Los Angeles Field Division Special Agent in Charge Jose Medina. “These criminal acts destroy lives, property, and businesses. In this case, the motive was greed—fire was used as a cover-up for criminal activity. ATF remains steadfast in its mission to bring arsonists to justice and ensure safer communities. We will relentlessly pursue and remove these offenders from society. I want to acknowledge the dedication of our National Response Team and San Diego’s Metro Arson Strike Team (MAST) for their work in determining the fire’s origin and cause.”
A hearing to determine the restitution that Hernandez owes the victims of her crimes is scheduled for March 14, 2025, at 2:30 p.m. before Judge Ohta.
This case is being prosecuted by Assistant U.S. Attorneys Matthew Brehm and Carl Brooker.
DEFENDANT Case Number 22cr145-JO
Carey Alice Hernandez Age: 46 Rathdrum, Idaho
SUMMARY OF CHARGES
Malicious Destruction of Building by Means of Fire – Title 18, U.S.C., Section 844(i)
Maximum penalty: No less than five years in prison and no more than 20 years and $250,000 fine
Witness Tampering – Title 18, U.S.C., Section 1512(b)(3)
Maximum penalty: Twenty years in prison and $250,000 fine
False Statements – Title 18, U.S.C., Section 1001(a)(2)
Maximum penalty: Five years in prison and $250,000 fine
INVESTIGATING AGENCY
Bureau of Alcohol, Tobacco, Firearms and Explosives
US Senate News:
Source: United States Senator John Kennedy (Louisiana)
MADISONVILLE, La. – Sen. John Kennedy (R-La.), a member of the Senate Banking Committee, introduced the Protecting Investors’ Personally Identifiable Information Act. The bill would protect information that could reveal the identity of American investors by prohibiting the Securities and Exchange Commission (SEC) from requiring brokers to submit investors’ personally identifiable information to its Consolidated Audit Trail (CAT).
Earlier this month, the Trump administration’s SEC issued an order that exempts certain personally identifiable information consisting of investors’ names, addresses and years of birth from CAT reporting. Kennedy’s bill would permanently remove reporting requirements on investors’ personally identifiable information.
“Americans assume their private information is secure when they invest money in the U.S. stock market. However, the SEC’s unlawful Consolidated Audit Trail could put their data in jeopardy. My bill would protect American investors from foreign enemies and bad actors by preventing the SEC from collecting personal information it doesn’t need and storing it on a dangerous database,” said Kennedy.
Rep. Barry Loudermilk (R-Ga.) introduced the bill in the House of Representatives.
“The SEC’s collection of personal financial information through the Consolidated Audit Trail is unconstitutional and entirely unnecessary; and it exposes American investors to serious cybersecurity risks from foreign adversaries and criminal hackers. This is why I developed the Protecting Investors’ Personally Identifiable Information Act in the House. The bill would effectively eliminate the potential for both accidental and intentional breaches by restricting the SEC’s automatic collection of investors’ PII. Among its provisions, the SEC will only be permitted to request this data in cases directly tied to investigating or enforcing violations of federal securities law. I want to thank Senator John Kennedy for introducing the Senate companion to this important bill,” said Loudermilk.
Sens. John Boozman (R-Ark.), Katie Britt (R-Ala.), Tom Cotton (R-Ark.), Steve Daines (R-Mont.), Jerry Moran (R-Kan.), Pete Ricketts (R-Neb.) and Mike Lee (R-Utah) cosponsored the bill.
“Investors rely on the SEC to safeguard sensitive financial information. Requiring brokers to submit investors’ private, identifiable information, including social security numbers, into a central database will invite even more attempts to compromise Americans’ data privacy. I am pleased to join my colleagues to reject this ill-advised scheme and protect personal information,” said Boozman.
“The SEC’s Consolidated Audit Trail database holds millions of Americans’ sensitive financial information. Since taking office, I’ve pushed back against the profound risks the CAT poses to Americans’ individual liberty and personal privacy. The Protecting Investors’ Personally Identifiable Information Act would permanently prohibit the requirement of submitting personal information to the CAT, protecting American investors,” said Britt.
“Investors put their faith in the U.S. when they choose to invest in our stock market, and they should not have to worry about their personal information being stolen. This bill will increase our cybersecurity and stop the over-collection of unnecessary personal information for the millions of people who trust our stock market system with their savings and their privacy,” said Daines.
“Protecting the information of American investors helps build trust and security that encourages investments in our markets. As adversaries target Americans’ personal data through cyberattacks, it is important that the SEC only keeps the data it needs instead of housing additional, personal information that could place investors at greater risk,” said Moran.
“The Protecting Investors’ Personally Identifiable Information Act is a necessary step in protecting the information and identities of American investors. The American people should feel confident that their participation in the stock market does not mean the leaking of their private information,” said Ricketts.
The American Securities Association (ASA) supports the Protecting Investors’ Personally Identifiable Information Act.
“Senator Kennedy is a true champion for the American people and we applaud his bill to stop the federal government from collecting individual investors’ personal and financial information in a national registry, which is a sitting duck for hackers. The SEC can conduct responsible oversight of our equity markets without collecting the most sensitive personal information of working families, retirees, and savers,” said Chris Iacovella, CEO of the ASA.
The SEC’s CAT became operational on May 31, 2024, making it the largest government database of its kind. The CAT will collect all customer and order information for equity securities and listed options, including data that might be considered personally identifiable information.
The SEC is implementing the CAT despite concerns from investor protection groups and the securities industry and in the wake of vulnerabilities that recent cyber-attacks have revealed at federal agencies.
Kennedy’s bill would prohibit the SEC from requiring market participants to submit investors’ personally identifiable information to the CAT. Under this legislation, the SEC can obtain personally identifiable information related to investors only by requesting it on a case-by-case basis. Companies and investors trading on the U.S. stock exchanges would need to fulfill the SEC’s request for this information within 24 hours, though additional time may be requested.
The bill would also require the SEC to delete personally identifiable information once the agency resolves the investigation or issue that required that information.
Text of the Protecting Investors’ Personally Identifiable Information Act is available here.
Source: United Nations 4
The Security Council today strongly condemned ongoing offensives by the 23 March Movement, or M23, in the North and South Kivu provinces of the Democratic Republic of the Congo, deciding that M23 shall immediately cease hostilities, withdraw from areas it controls and fully reverse the establishment of illegitimate parallel administrations in that country’s territory.
Unanimously adopting resolution 2773 (2025) (to be issued as document S/RES/2773(2025)), the Council — acting under Chapter VII of the Charter of the United Nations — also called on the Rwanda Defence Force to cease support to M23 and immediately withdraw from the territory of the Democratic Republic of the Congo without preconditions. Further, it strongly urged Kinshasa and Kigali to return to diplomatic talks, supported all initiatives and contributions to this end and reaffirmed the critical role of both the Luanda and Nairobi processes.
Through the resolution, the Council additionally called for the cessation of support provided by Kinshasa’s military forces to specific armed groups — particularly the Democratic Liberation Forces of Rwanda, or FDLR — as well as urgent implementation of commitments to neutralize that group. The organ also demanded that all parties facilitate the timely delivery of humanitarian assistance to populations in need. To that end, it called on all parties to urgently open temporary humanitarian corridors in North and South Kivu.
By other terms, the Council reaffirmed its full support to the United Nations Organization Stabilization Mission in the Democratic Republic of the Congo (MONUSCO) and emphasized that any attempts to undermine the Mission’s ability to implement its mandate will not be tolerated. As well, the Council condemned the systematic illicit exploitation and trafficking of natural resources in the eastern Democratic Republic of the Congo and reaffirmed its strong commitment to that country’s sovereignty, independence, unity and territorial integrity.
Text Sends Clear Message There Is No Military Solution to Conflict
Speaking after the adoption, the representative of France, the text’s author, said that it delivers a clear message: “There is no military solution to the conflict in the east of the DRC [Democratic Republic of the Congo]; the offensive carried out by M23 — supported by Rwanda — must be put to an end.” Further, Rwandan forces must withdraw from Congolese territory without delay, and MONUSCO must be able to carry out its mandate without obstruction. Stating that the Council must speak clearly alongside regional initiatives, he welcomed that the organ “has risen to its responsibility”.
Delegates Stress African-Led Initiatives Must Be Supported
On those initiatives, Algeria’s representative recalled a recent statement by the African Union’s Peace and Security Council, which clearly emphasized that political settlement is the only way to end the conflict. “As Africans who hold their continent dear”, he stressed the need to support regional mediation efforts. Further, he said that all external actors must end their negative interventions, also noting the legacy of the bygone colonial era — as well as current “looting and plundering”.
“The illegal exploitation of natural resources remains a key driver of instability in the region,” added the representative of Sierra Leone, urging greater adherence to relevant international frameworks to prevent the financing of armed groups. He also joined others in underscoring that dialogue is the only sustainable path to lasting stability in the Democratic Republic of the Congo. On that, he observed: “Talking to adversaries is hard — perhaps a taboo for some — but we do not make peace with friends.”
Also underlining the importance of dialogue, Somalia’s representative pointed out that “experience has taught us that silencing the guns in Africa does not begin with finger-pointing”. A sustainable solution must emerge through inclusive dialogue and regional cooperation, “rather than through measures that might inadvertently complicate existing peace initiatives”, he said. Adding that the recent proposed convergence of the Luanda and Nairobi processes “represents a significant step forward in regional cooperation”, he called on the Council to ensure that international engagement “aligns with and reinforces existing African-led initiatives”.
In that vein, the representative of China, Council President for February, spoke in his national capacity to express support for “solving African issues the African way”. Further, he said that Council resolutions should be “designed to support regional processes” and “build synergy with mediation efforts at the regional level”. He added: “The Great Lakes region is at a critical juncture, and to stand on the side of peace is our shared responsibility.”
“We must not let everything unravel before our eyes,” urged Pakistan’s representative, also emphasizing that today’s text — “most importantly” — welcomes and supports regional efforts and processes to bring peace to the Democratic Republic of the Congo. Welcoming the consensus achieved, he said that the resolution reaffirms the Council’s commitment to that country’s sovereignty, independence, unity and territorial integrity and “upholds the fundamental principles of the UN Charter”.
Resolution Supports UN Charter
“This is a resolution in support of the Charter of the United Nations,” said the representative of the Russian Federation, stressing: “This needs to be fulfilled by the parties without delay.” The hostilities must end, lives must be saved, ordinary people must be able to return to their homes and Kigali and Kinshasa must, once again, sit at the negotiating table. Adding that the parties must implement, in good faith, measures “agreed upon by Africans at the highest level”, he warned: “Otherwise, the region will be faced with yet another brutal war, with colossal human casualties.”
“The entire DRC is now at stake, and the situation literally stands on the brink of a full-scale regional war,” warned the representative of the Republic of Korea. He, too, stressed that there can be no military solution to this conflict and urged both Kinshasa and Kigali to urgently return to meaningful diplomatic dialogue. Both countries, stressed Guyana’s representative, must implement their commitments under the Luanda and Nairobi processes and abide by the decisions of the African Union’s Peace and Security Council.
For his part, Panama’s representative underlined his country’s “unwavering commitment to the sovereignty and territorial integrity of the Democratic Republic of the Congo”. Urging M23 to immediately cease its hostilities there, the representative of the United Kingdom stressed: “No Member States should impede this.” He also underscored that, if the parties do not fully abide by today’s resolution, “this Council will need to consider further action”.
On accountability, the representative of the United States reported that her Government has imposed sanctions on James Kabarebe, Rwandan Minister of State for Regional Integration, and M23 spokesperson Lawrence Kanyuka Kingston, as well as two of the latter’s companies. She added that, while it is necessary to support African solutions for African problems — and regional countries have a high stake in preventing an all-out war in the Great Lakes region — African-led responses must not preclude swift action from the Council.
Kinshasa’s Delegate Says Council’s Paralysis for Three Weeks Gave Rwandan Defence Force ‘Free Rein’ to Illegally Occupy Democratic Republic of the Congo
However, the representative of the Democratic Republic of the Congo, pointed out that “three weeks had to elapse for the Council to speak unanimously about this subject”. “In this particular case,” he added, “the Council’s paralysis gave free rein to the illegal occupation of DRC territory by the [Rwandan Defence Force] and their supporters.” Nevertheless, the Council has now acted, and he thanked the organ’s members on behalf of his Government and “all of the boys and girls of the DRC”. He urged that today’s resolution be implemented immediately to offer respite to those in occupied areas — “they are paying the highest price and bearing the brunt of this military adventure”.
Kigali’s Speaker Concerned by ‘Unprecedented Intimidation of African Voices’ in Council
Meanwhile, Rwanda’s delegate expressed concern about “the unprecedented intimidation of African voices” in the Council, stating: “This speaks volumes about the [Democratic Republic of the Congo] and its belief that the solution to their inter-Congolese conflict will come from actors from outside the continent — most of whom are at the historical root cause of this conflict.” He also urged the Council to reflect on the question: “How did we end up here?” Any outcome that does not consider Rwanda’s security challenges and ignores the legitimate grievances of the Kinyarwanda-speaking Congolese — the root of M23’s existence — will not help resolve the conflict, he stressed.
For his part, Angola’s representative called for an immediate ceasefire and resumed dialogue, adding that there is no military solution to the dire security situation in the Democratic Republic of the Congo. “We need to uphold and consolidate the deliverables of the Luanda process,” he stressed, welcoming the draft resolution “as a significant step in the right direction”. The Council has a responsibility to assist the people and the Government of the Democratic Republic of the Congo to prevent further escalation of the conflict. “We need to save lives and stop the bloodshed of innocent civilians,” he added, emphasizing the need to “promote African solutions to African problems”.
Source: GlobeNewswire (MIL-OSI)
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
TORONTO, Feb. 21, 2025 (GLOBE NEWSWIRE) — Hampton Financial Corporation (“Hampton” or the “Company”, TSXV: HFC) announces that Hampton debentures in the aggregate principal amount of $2,175,000 have been redeemed and that the holders of the debentures have reinvested the redemption proceeds into new non-convertible debentures of Hampton in the aggregate principal amount of $2,000,000, bearing interest at 10% per annum and maturing on December 29, 2025, and separately in the case of debentures held by its CEO, Peter Deeb, in the issuance of 255,050 subordinate voting shares of Hampton at $0.70 per share.
The Company received conditional approval from the TSX Venture Exchange for the issuance of the subordinate voting shares, which are subject to a four month hold period expiring on June 21, 2025.
About Hampton Financial Corporation
Hampton is a unique private equity firm that seeks to build shareholder value through long-term strategic investments.
Through its wholly-owned subsidiary, Hampton Securities Limited (“HSL”), Hampton is actively engaged in family office, wealth management, institutional services and capital markets activities. HSL is a full-service investment dealer, regulated by CIRO and registered in Alberta, British Columbia, Manitoba, Saskatchewan, Nova Scotia, Northwest Territories, Ontario, and Quebec. In addition, the Company, through HSL, provides investment banking services, which include assisting companies with raising capital, advising on mergers and acquisitions, and aiding issuers in obtaining a listing on recognized securities exchanges in Canada and abroad and HSL’s Corporate Finance Group provides early stage, growing companies the capital they need to create value for investors. HSL continues to develop its Wealth Management, Advisory Team and Principal-Agent programs which offers to the industry’s most experienced wealth managers a unique and flexible operating platform that provides additional freedom, financial support, and tax effectiveness as they build and manage their professional practice.
Through its wholly-owned subsidiary, Oxygen Working Capital (“OWC”) the company offers factoring and other commercial financing services to clients across Canada.
The Company is exploring opportunities to diversify its sources of revenue by way of strategic investments in both complimentary business and non-core sectors that can leverage the expertise of its Board and the diverse experience of its management team.
For more information, please contact:
Olga Juravlev
Chief Financial Officer
Hampton Financial Corporation
(416) 862-8701
Or
Peter M. Deeb
Executive Chairman & CEO
Hampton Financial Corporation
(416) 862-8651
The TSXV has in no way approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release does not constitute or form a part of any offer or solicitation to buy or sell any securities in the United States or any other jurisdiction outside of Canada. The securities being offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States and may not be offered or sold within the United States or to a U.S. person absent registration or pursuant to an available exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. There will be no public offering of securities in the United States.
Forward-Looking Statements
This press release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements”) within the meaning of applicable Canadian securities laws, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “should”, “hopeful”, “recovery”, “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “may”, “will”, “project” or similar words, including negatives thereof, suggesting future outcomes.
Forward-looking statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors beyond the Company’s ability to predict or control which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking statements herein. Forward-looking statements are not a guarantee of future performance. Although the Company believes that any forward-looking statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such statements, there can be no assurance that any such forward-looking statements will prove to be accurate. Actual results may vary, and vary materially, from those expressed or implied by the forward-looking statements herein. Accordingly, readers are advised to rely on their own evaluation of the risks and uncertainties inherent in forward-looking statements herein and should not place undue reliance upon such forward-looking statements. All forward-looking statements herein are qualified by this cautionary statement. Any forward-looking statements herein are made only as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.
Source: People’s Republic of China – State Council News
2025 Action Plan for Stabilizing Foreign Investment
Ministry of Commerce and
National Development and Reform Commission
Foreign investment is crucial for promoting high-level opening-up. It plays an important role in fostering new quality productive forces and advancing Chinese modernization. We have thus formulated this action plan to intensify efforts to attract and stabilize foreign investment in 2025.
I. Expanding self-initiated opening-up in an orderly manner
1. Expanding pilot programs to open up the telecommunications, healthcare, and education sectors. We will support efforts of the pilot regions to publicize and implement the opening-up policies for value-added telecommunications, biotechnology, and wholly foreign-owned hospitals, and assemble special teams to follow foreign-invested projects under discussion and help solve problems timely, and push for early implementation of these projects. We will expand pilot programs to open up the telecommunications and healthcare sectors at an appropriate time. We will study and formulate plans to expand self-initiated opening-up of the education and cultural sectors in an orderly manner, publish them at an appropriate time and implement them with steady steps.
2. Ensuring the lift of restrictions on foreign investment in the manufacturing sector is well-implemented. For areas not on the negative lists for foreign investment access, we will administer foreign investment access in the principle of equal treatment for domestic and foreign investment alike. We will revise the negative lists and further reduce the listed items to expand opening-up to all types of market operators.
3. Improving the national comprehensive demonstration zones for expanding opening-up in the services sector. We will support the leading role of the Beijing demonstration zone in expanding services liberalization to accelerate and intensify the pilot efforts. We will further expand the scope of the pilot to include new elements and tasks, and experiment with the opening-up measures in key areas in the demonstration zones first. We will conduct in-depth studies on policy measures to open up the services sector further, closely follow the progress of the pilot, and timely replicate pilot experience. We will support the standardization in the national comprehensive demonstration zones for expanding opening-up in the services sector.
4. Advancing opening-up of the biomedicine sector in an orderly manner. We will support the participation of qualified foreign-invested enterprises (FIEs) in the segmented production of biological products on a pilot basis, speed up the review of pilot programs and quality monitoring programs at the provincial level, promote the optimization of resource allocation in the biomedicine industry, and coordinate for the timely resolution of difficulties facing enterprises in the pilot process. We will study and improve the opening-up policies for the pharmaceutical sector, facilitate more rapid launch of new drugs, optimize volume-based drug procurement, and make medical device procurement more predictable.
5. Encouraging foreign equity investment in China. We will earnestly implement the Measures for the Administration of Strategic Investment in Listed Companies by Foreign Investors, formulate and release guidelines for making strategic investment, and intensify publicity efforts targeting listed companies, overseas funds, investment institutions, etc., to encourage more high-quality long-term foreign investment in listed Chinese companies.
II. Improving the level of investment promotion
6. Building continuously the brand of “Invest in China”. We will deepen the institutional reform of the foreign investment promotion system as required, devise an annual implementation plan for building the brand of “Invest in China”, and meticulously design and implement a series of “Invest in China” events. Central and local governments will make coordinated efforts in organizing overseas investment promotion events to fill in the gaps in and strengthen industrial and supply chains in the manufacturing sector with foreign investment. In light of the different characteristics of China’s major sources of foreign investment, we will research and formulate differentiated investment attraction targets and strategies, work closely with bilateral joint (mixed) economic and trade committees, and fully activate bilateral investment promotion working groups to boost project matchmaking.
7. Strengthening support for FIEs’ reinvestment in China. We will keep optimizing the business environment and ensure full national treatment for FIEs. We will research and formulate policy measures to encourage FIEs to reinvest in China and use more of their profits made in China for reinvestment. We will pilot an information report program for FIEs’ investment in China.
8. Encouraging foreign investment in a wider range of industries. We will revise and expand the catalogue of industries where foreign investment is encouraged, optimize foreign investment mix, promote the high-quality development of China’s manufacturing sector with foreign investment, steer foreign investment to the modern services sector, and support more foreign investment flows into China’s central, western and northeastern regions.
9. Removing restrictions on foreign-invested investment companies’ access to domestic loans. Foreign-invested investment companies will be allowed to access domestic loans for equity investment. We will make greater efforts to communicate relevant policies and provide facilitation for multinational companies to invest in and establish headquarters and similar institutions in China.
10. Encouraging multinational companies to invest in and establish investment companies. We will refine the rules for setting up foreign-invested investment companies and provide facilitation for multinational companies to invest in and establish investment companies in China in terms of foreign exchange administration, cross-border movement of personnel and cross border data flows. Companies invested in and established in China by foreign-invested investment companies will be eligible for FIE treatment in accordance with law and regulation.
11. Facilitating merger & acquisition (M&A) investment in China by foreign investors. The Provisions on the Merger and Acquisition of Domestic Companies by Foreign Investors will be amended under the framework of the Foreign Investment Law, with refined M&A rules and transaction procedures, better defined scope of administration and lower threshold for cross-border share swaps.
12. Intensifying investment attraction in key sectors. We will encourage and ensure national treatment for foreign investment in animal husbandry-related sectors such as breeding, production of rearing equipment and production of animal feed and veterinary medicine. To create more business opportunities and cooperation space for FIEs, we will support their participation in China’s new industrialization process, with a focus on high-tech sectors. Foreign investment utilization will be encouraged in services sectors including elderly care, culture and tourism, sports, healthcare, vocational education and finance to meet consumer demand for multi-tiered services.
13. Promoting communications on economic policies and the business environment. Press releases and briefings, interviews and expert comments will be fully utilized to showcase and explain China’s new policies, measures and highlights for expanding high-standard opening up.
III. Strengthening the functions of opening-up platforms
14. Deepening institutional reforms in economic and technological development zones. We will improve policy support systems and develop policy papers on deepening reforms and innovations in national economic and technological development zones, roll out new measures in guaranteeing production factors, opening up key sectors, carrying out pilot reform tasks and delegating economic management power, so as to improve the standards of export-oriented economy in national economic and technological development zones. For national high-tech industrial development zones, special customs supervision areas and various provincial development zones, we will tap into their role as opening-up platforms for stabilizing foreign investment.
15. Implementing the strategy to upgrade pilot free trade zones. We will improve the quality and efficiency of pilot free trade zones, expand the authorization of reform tasks, accelerate the implementation of core policies for the Hainan Free Trade Port and create a highland for attracting foreign investment. We support pilot free trade zones in stepping up stress tests in sectors accessible to foreign investment and continuing to expand institutional opening up in rules, regulation, management and standards.
IV. Redoubling efforts to enhance services
16. Promoting the implementation of major and key foreign-invested projects. We will encourage the inclusion of more foreign-invested projects in the lists of major and key foreign-invested projects and enhance policy support and services to accelerate the implementation of projects.
17. Establishing a system of standards for domestic products in government procurement. We will speed up developing and issuing relevant documents to specify the standards of domestic products in government procurement and ensure that products produced by enterprises of different ownerships within China participate equally in government procurement activities. We will enhance policy communication in the field of government procurement and improve the handling of complaints from FIEs.
18. Broadening financing channels for FIEs. We will encourage financial institutions to provide financing services for FIEs, research the borrowing needs, investment and operation of key FIEs, and organize targeted bank-enterprise matchmaking events. Various types of funds will be guided to carry out equity investment cooperation with FIEs, and FIEs supported in expanding their investment and business and deepening their footprint in China.
19. Facilitating personnel exchange. We will accelerate negotiations on mutual visa exemption agreements, and continue to expand the coverage of China’s unilateral visa-free policy in a prudent manner. Policies for port visa, visa-free transit and regional visa-free entry will be optimized to promote cross-border movements of people. A Guide to Working and Living in China as Business Expatriates will be upgraded.
20. Improving the level of trade facilitation for FIEs. We will work earnestly on issuing Certificates of Origin under preferential trade agreements to help FIEs enjoy tariff concessions from agreement partners. The inspection and regulation of complete sets of equipment imported for key foreign-invested projects will be optimized. More efforts will be made to support FIEs in obtaining the “Authorized Economic Operator” (AEO) certificate, and random inspections will be further optimized and reduced for AEOs. We will promote the adoption of inspection results of imports in an active and prudent manner, and include more qualified Chinese and foreign inspection institutions on the list of institutions whose inspection results are adopted. FIEs will be encouraged to apply for recordation of their intellectual property rights, and any infringement in the process of import and export will be resolutely combated.
Under the centralized and unified leadership of the Central Committee of the Communist Party of China, all regions and relevant departments should unswervingly deepen reform and opening up, refine specific implementation measures, and innovate working methods and strengthen policy and factor support in areas including investment promotion, rights and interests protection and services guarantee, to ensure that the measures can be put in place and take effect in 2025, so as to effectively boost the confidence of foreign investors. Relevant departments should be organized to visit key regions and major FIEs to better understand the requests of FIEs and effectively respond to their concerns. The Ministry of Commerce and the National Development and Reform Commission will work with relevant departments and agencies to enhance guidance and coordination for effective policy communication and implementation. Significant matters should be reported in a timely manner.
Source: People’s Republic of China – State Council News
JOHANNESBURG, Feb. 21 — A delegation of Chinese entrepreneurs visited South Africa from Wednesday to Friday to promote cooperation between businesses of the two countries.
The delegation, led by Ren Hongbin, chairman of the China Council for the Promotion of International Trade (CCPIT), took the elevation of China-South Africa bilateral ties to an all-round strategic cooperative partnership in the new era as an opportunity to deepen mutual exchanges.
During the visit, Ren engaged in extensive discussions with South African officials and business representatives. He also attended the China-South Africa Economic and Trade Forum, the third China International Supply Chain Expo Promotion Conference, as well as the China-South Africa Business Networking.
The CCPIT chairman introduced China’s high-quality development to promote the Chinese path to modernization and its adherence to high-level opening up. He welcomed the South African business community to participate in the third China International Supply Chain Expo to deepen bilateral cooperation in industrial and supply chains.
The enterprises and institutions from both sides have conducted multiple business negotiations and exchanges, achieving fruitful results.
US Senate News:
Source: United States Senator for Massachusetts Ed Markey
Letter Text (PDF)
Washington (February 21, 2025) – Small Business and Entrepreneurship Committee Ranking Member Edward J. Markey (D-Mass.) yesterday led Democratic committee members in a letter to Small Business Administration (SBA) Administrator Kelly Loeffler demanding answers on the recent arbitrary mass firings by the Trump administration of SBA public servants, including loan and disaster assistance staff and veterans.
In the letter the lawmakers wrote, “Over the past week, the Small Business Administration (SBA) has taken unprecedented personnel actions that have gutted its civil service workforce around the country. This includes the firing of hundreds of SBA employees serving their probationary work period. Yet, SBA has provided us with no direct information about these terminations, including why they were undertaken, the number and identities of fired employees, or which SBA offices were impacted.”
The lawmakers continued, “In order to ensure small businesses continue to receive the SBA services they need to thrive, we request the following: First, put an immediate stop to the arbitrary firings of career civil servants and reinstate them immediately, with backpay. Second, have your Deputy Inspector General conduct a thorough review of the SBA’s actions to ensure that any termination was lawful. And third, promptly brief the Committee’s minority staff on SBA’s recent personnel actions and its plan to implement the President’s deferred resignations and RIF executive order.”
The letter is signed by fellow Senate Small Business and Entrepreneurship Committee Democrats, Senators Maria Cantwell (D-Wash.), Jeanne Shaheen (D-N.H.), Cory Booker (D-N.J.), Chris Coons (D-Del.), Mazie Hirono (D-Hawaii), Jacky Rosen (D-Nev.), John Hickenlooper (D-Colo.), and Adam Schiff (D-Calif.).
US Senate News:
Source: United States Senator for Massachusetts Ed Markey
Watch: Senator Markey Introduces Amendment to Fund Alzheimer’s Research
Washington (February 21, 2025) – Senator Edward J. Markey (D-Mass.), ranking member of the Health Education, Labor, and Pensions (HELP) Subcommittee on Primary Health and Retirement Security and founder and co-chair of the Congressional Task Force on Alzheimer’s, yesterday introduced an amendment to the Senate’s budget resolution, which would increase funding for Alzheimer’s research amidst cuts to National Institutes of Health (NIH) research funding. Republicans overwhelmingly voted down the amendment from passing.
Below is an excerpt from Senator Markey’s remarks on the Senate floor.
“Funding for Alzheimer’s research at the NIH is essential. Nearly seven million Americans are living with Alzheimer’s right now and if nothing changes, fifteen million Americans will have Alzheimer’s by 2050 with a cost of one trillion dollars a year to our health care system. We need to tackle this challenge head on by increasing funding for NIH research for Alzheimer’s. Trump and DOGE have already cut and slowed down NIH research, interfering with our ability to cure this disease. We must guarantee that Alzheimer’s research is protected.”
In October 2024, Senators Markey and Susan Collins (R-Maine) announced President Biden signed their bipartisan Alzheimer’s Accountability and Investment Act (AAIA) and National Alzheimer’s Project Act (NAPA) Reauthorization into law. These bills cement and build on the important progress that has been made to prevent and effectively treat Alzheimer’s disease.
Senator Markey is a leader in the fight to find a cure for Alzheimer’s disease and to support family caregivers. In July 2024, Senator Markey applauded the HELP Committee’s passage of Older Americans Act Reauthorization Act of 2024, which included provisions based on his Respite Care And Resources for Everyone (CARE) Act and Convenient Care for Caregivers Act to expand respite care for family caregivers of older adults that need long-term care, including individuals with Alzheimer’s disease and related dementia. Earlier that month, Senator Markey unveiled his “Caring for Caregivers” family caregiving agenda, which included his Convenient Care for Caregivers Act to support family caregivers and individuals with Alzheimer’s receiving health care services at the same time and location to improve health outcomes.
As a member of the House of Representatives, Senator Markey founded the bipartisan, bicameral Congressional Task Force on Alzheimer’s to develop a whole-of-government approach to finding a cure for Alzheimer’s. He created the Independence at Home program to provide seniors, including individuals with Alzheimer’s and other dementia, the option to receive primary care in their home. Senator Markey authored the bipartisan Spending Reductions Through Innovations in Therapies (SPRINT) Act, which would encourage drug development for high-cost, chronic health conditions such as Alzheimer’s, the Health Outcomes, Planning and Education (HOPE) Act to improve early detection and diagnoses of Alzheimer’s and support caregivers, and the Alzheimer’s Breakthrough Act, which would require the National Institutes of Health (NIH) work to improve treatment outcomes and engage federal agencies in the effort to combat Alzheimer’s.
US Senate News:
Source: The White House
SAFEGUARDING AMERICA’S SOVEREIGNTY OVER ITS ECONOMY: Today, President Donald J. Trump signed a memorandum to defend American companies and innovators from overseas extortion.
This Administration will consider responsive actions like tariffs to combat the digital service taxes (DSTs), fines, practices, and policies that foreign governments levy on American companies.
DSTs allow foreign governments to collect tax revenue from American companies simply because they operate in foreign markets, even though those companies are generally not otherwise subject to foreign jurisdiction.
President Trump will not allow foreign governments to appropriate America’s tax base for their own benefit.
This memorandum directs the United States Trade Representative (USTR) to renew the DST investigations under Section 301 that were initiated during President Trump’s first term, and investigate any additional countries that use a DST to discriminate against U.S. companies.
The Administration will review whether any act, policy, or practice in the European Union or United Kingdom incentivizes U.S. companies to develop or use products and technology in ways that undermine free speech or foster censorship.
Foreign governments will invite responsive actions from the Administration if they take steps to coerce U.S. businesses to hand over their intellectual property.
Regulations that dictate how American companies interact with consumers in the European Union, like the Digital Markets Act and the Digital Services Act, will face scrutiny from the Administration.
DEFENDING AMERICAN COMPANIES FROM EXTORTION: President Trump’s memorandum unveils a comprehensive approach to ensuring that U.S. products and services are governed by the United States of America, not foreign governments.
Rather than position their own companies and workers for success, foreign governments have been taxing the success of America’s companies and workers.
America’s economy will not be a source of revenue for countries that have failed to cultivate economic success of their own.
To the detriment of America’s economy, in recent years, a number of our trading partners began enacting DSTs to raise revenue for their own government spending.
Foreign governments could collect billions in DSTs from U.S. companies annually.
This exploitation goes beyond DSTs to other forms of unfair fines, practices, and penalties that undermine the ability of American companies to operate as intended and force them to incur additional compliance costs, lowering U.S. global economic competitiveness.
In terms of GDP, the United States digital economy has been larger than most countries’ entire economy in recent years, including Australia, Canada, and most members of the European Union.
America’s digital economic dominance is driven by cutting-edge American tech companies, and the American innovation and workers behind them.
RESTORING THE ENTREPRENEURIAL SPIRIT OF AMERICA: President Donald J. Trump has a track record of protecting American manufacturers and empowering American innovators and workers.
During his first administration, President Trump initiated Section 301 cases against DSTs and negotiated platinum-standard rules for digital trade with Japan and separately through the USMCA.
President Trump demonstrated in his first term that punitive measures like tariffs strengthened the U.S. economy and brought back American industry.
Just last week, President Trump announced the “Fair and Reciprocal Plan” on trade to restore fairness in U.S. trade relationships and counter non-reciprocal trade agreements.
On Day One, President Trump initiated his America First Trade Policy to make America’s economy great again.
US Senate News:
Source: The White House
class=”has-text-align-left”>MEMORANDUM FOR THE SECRETARY OF THE TREASURY
THE SECRETARY OF COMMERCE
THE UNITED STATES TRADE REPRESENTATIVE
THE SENIOR COUNSELOR TO THE PRESIDENT FOR TRADE
AND MANUFACTURING
SUBJECT: Defending American Companies and Innovators From Overseas Extortion and Unfair Fines and Penalties Section 1. Purpose. In recent years, the gross domestic product of the United States’ digital economy alone, driven by cutting-edge American technology companies, has been bigger than the entire economy of Australia, Canada, or most members of the European Union. Instead of empowering their own workers and economies, foreign governments have increasingly exerted extraterritorial authority over American companies, particularly in the technology sector, hindering these companies’ success and appropriating revenues that should contribute to our Nation’s well-being, not theirs. Beginning in 2019, several trading partners enacted digital services taxes (DSTs) that could cost American companies billions of dollars and that foreign government officials openly admit are designed to plunder American companies. Foreign countries have additionally adopted regulations governing digital services that are more burdensome and restrictive on United States companies than their own domestic companies. Additional foreign legal regimes limit cross-border data flows, require American streaming services to fund local productions, and charge network usage and Internet termination fees. All of these measures violate American sovereignty and offshore American jobs, limit American companies’ global competitiveness, and increase American operational costs while exposing our sensitive information to potentially hostile foreign regulators. My Administration will not allow American companies and workers and American economic and national security interests to be compromised by one-sided, anti-competitive policies and practices of foreign governments. American businesses will no longer prop up failed foreign economies through extortive fines and taxes. Sec. 2. Policy. It is the policy of my Administration that where a foreign government, through its tax or regulatory structure, imposes a fine, penalty, tax, or other burden that is discriminatory, disproportionate, or designed to transfer significant funds or intellectual property from American companies to the foreign government or the foreign government’s favored domestic entities, my Administration will act, imposing tariffs and taking such other responsive actions necessary to mitigate the harm to the United States and to repair any resulting imbalance. In taking such responsive action, my Administration shall consider: (a) taxes imposed on United States companies by foreign governments, including those that may discriminate against United States companies; (b) regulations imposed on United States companies by foreign governments that could inhibit the growth or intended operation of United States companies; (c) any act, policy, or practice of a foreign government that could require a United States company to jeopardize its intellectual property; and (d) Any other act, policy, or practice of a foreign government that serves to undermine the global competitiveness of United States companies.
Sec. 3. Agency Responsibilities. (a) The United States Trade Representative shall determine, in accordance with applicable law, whether to renew investigations under section 301 of the Trade Act of 1974 (19 U.S.C. 2411) of the DSTs of France, Austria, Italy, Spain, Turkey, and the United Kingdom, which were initiated under my Administration on July 16, 2019, and June 5, 2020. If the United States Trade Representative determines to renew such investigations, he shall take all appropriate and feasible action in response to those DSTs.
(b) The United States Trade Representative shall determine, consistent with section 302(b) of the Trade Act of 1974 (19 U.S.C. 2412(b)) (section 302(b)), whether to investigate the DST of any other country that may discriminate against United States companies or burden or restrict United States commerce. He shall further determine whether to pursue a panel under the United States-Mexico-Canada Agreement on the DST imposed by Canada and whether to investigate Canada’s DST under section 302(b). In making these determinations, the United States Trade Representative shall consult with the Secretary of the Treasury, as appropriate. (c) The Secretary of the Treasury, the Secretary of Commerce, and the United States Trade Representative shall jointly identify trade and other regulatory practices by other countries, including, without limitation, those described in section 2 of this memorandum, that discriminate against, disproportionately affect, or otherwise undermine the global competitiveness or intended operation of United States companies, in the digital economy and more generally, and recommend to me appropriate actions to counter such practices under applicable authorities. The United States Trade Representative shall include the results of this review as part of the report required in section 5(c) of the Presidential Memorandum of January 20, 2025 (America First Trade Policy) (America First Trade Policy Memorandum). (d) The Secretary of the Treasury, the Secretary of Commerce, and the United States Trade Representative shall investigate whether any act, policy, or practice of any country in the European Union or the United Kingdom has the effect of requiring or incentivizing the use or development of United States companies’ products or services in ways that undermine freedom of speech and political engagement or otherwise moderate content, and recommend appropriate actions to counter such practices under applicable authorities. The United States Trade Representative shall include the results of this review as part of the report required in section 5(c) of the America First Trade Policy Memorandum. (e) The Secretary of the Treasury, in consultation with the Secretary of Commerce and the United States Trade Representative, shall determine whether any foreign country subjects United States citizens or companies, including, without limitation, in the digital economy, to discriminatory or extraterritorial taxes, or has any tax measure in place that otherwise undermines the global competitiveness of United States companies, is inconsistent with any tax treaty of the United States, or is otherwise actionable under section 891 of title 26, United States Code, or other tax-related legal authority. The Secretary of the Treasury shall include the results of this determination as part of the report required in section 2 of the Presidential Memorandum of January 20, 2025 (The Organization for Economic Co-Operation and Development (OECD) Global Tax Deal). (f) The United States Trade Representative shall identify tools the United States can use to secure among trading partners a permanent moratorium on customs duties on electronic transmissions. The United States Trade Representative shall include the results of this review as part of the report required in section 5(c) of the America First Trade Policy Memorandum. (g) The United States Trade Representative, in consultation with the Secretary of Commerce and the Senior Counselor to the President for Trade and Manufacturing, shall establish a process that allows American businesses to report to the United States Trade Representative foreign tax or regulatory practices that disproportionately harm United States companies. Sec. 4. General Provisions. (a) Nothing in this memorandum shall be construed to impair or otherwise affect: (i) the authority granted by law to an executive department or agency, or the head thereof; or (ii) the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals. (b) This memorandum shall be implemented consistent with applicable law and subject to the availability of appropriations. (c) This memorandum is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.
(d) The United States Trade Representative is authorized and directed to publish this memorandum in the Federal Register.
Source: GlobeNewswire (MIL-OSI)
BOSTON, Feb. 21, 2025 (GLOBE NEWSWIRE) — The New America High Income Fund, Inc. (the “Fund”) (NYSE: HYB) announced today that the reorganization of the Fund into the T. Rowe Price High Yield Fund (the “T. Rowe Price Fund”), a separate series of the T. Rowe Price High Yield Fund, Inc. (the “Reorganization”), initially expected to close following the close of business of the New York Stock Exchange on Friday, February 21, 2025, is now expected to close on a mutually agreed upon date in writing by the parties, subject to satisfaction of customary closing conditions. Upon the closing of the Reorganization, shareholders of the Fund will become holders of Investor Class shares of the T. Rowe Price Fund.
About the Fund
The New America High Income Fund, Inc. is a diversified, closed-end management investment company with a leveraged capital structure. The Fund’s investment adviser is T. Rowe Price Associates, Inc. (“T. Rowe Price”). As of January 31, 2025, T. Rowe Price and its affiliates managed approximately $1.65 trillion of assets. T. Rowe Price has provided investment advisory services to investment companies since 1937.
This press release is for informational purposes only and is not intended to, and does not, constitute an offer to purchase or sell shares of the Fund or the T. Rowe Price Fund. Additional information about the Fund and the T. Rowe Price Fund, including performance and portfolio characteristic information, is available at www.newamerica-hyb.com or www.troweprice.com, respectively.
Statements in this press release that are not historical facts may be forward-looking statements, as defined by the U.S. securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors that may be beyond the Fund’s control and could cause actual results to differ materially from those set forth in the forward-looking statements.
Contact:
Ellen E. Terry, President
Telephone: 617-263-6400
www.newamerica-hyb.com
Source: Office of United States Attorneys
Memphis, TN – A Mississippi woman has pled guilty to defrauding the Paycheck Protection Program (PPP), a federal program intended to help small businesses survive the COVID-19 pandemic, of over $5,000,000. Reagan Fondren, Acting United States Attorney for the Western District of Tennessee, announced the guilty plea today.
On February 20, 2025, Lisa Evans, 42, of Olive Branch, Mississippi, pled guilty before United States District Judge Thomas L. Parker to conspiracy to commit wire fraud. She will be sentenced on May 22, 2025 and faces a maximum term of 20 years in federal prison. There is no parole in the federal system.
According to information presented in court, Evans submitted fraudulent PPP loan applications for numerous individuals who were not entitled to PPP loans. The applications Evans submitted contained false representations, including fake federal tax documents. When the individual borrowers obtained the PPP loan funds, they then paid Evans kickbacks of 20 to 30 percent. The loss to the PPP program was $5,126,258.
Acting U.S. Attorney Fondren stated: “Individuals cheating the Paycheck Protection Program stole money from U.S. taxpayers who desperately needed these loans to keep their small businesses afloat and pay their employees during the COVID-19 pandemic. I would especially like to commend and thank the federal law enforcement agencies who uncovered this fraud and brought this defendant to justice: the Federal Housing Finance Agency Office of Inspector General; the Federal Deposit Insurance Corporation Office of Inspector General; the U.S. Treasury Inspector General for Tax Administration, Gulf States Field Division; the U.S. Small Business Administration Office of Inspector General; the U.S. Secret Service, Memphis Field Office; and the Pandemic Response Accountability Committee. My office will continue to work with these law enforcement partners to bring those who committed pandemic benefit fraud in the Western District of Tennessee to justice and to recover stolen pandemic relief funds.”
Acting U.S. Attorney Fondren also thanked Assistant U.S. Attorney Tony Arvin, who prosecuted this case.
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For more information, please contact the Media Relations Team at USATNW.Media@usdoj.gov. Follow the U.S. Attorney’s Office on Facebook or on X at @WDTNNews for office news and updates.
Source: GlobeNewswire (MIL-OSI)
GREENWICH, Conn., Feb. 21, 2025 (GLOBE NEWSWIRE) — Oxford Square Capital Corp. (NasdaqGS: OXSQ) (NasdaqGS: OXSQZ) (NasdaqGS: OXSQG) announced today that it will hold a conference call to discuss fourth quarter 2024 earnings on Friday, February 28, 2025 at 9:00 AM Eastern time. The toll free dial-in number is 1-800-549-8228. There will be a recording available for 30 days after the call. If you are interested in hearing the recording, please dial 1-888-660-6264. The replay pass-code number is 06523#.
About Oxford Square Capital Corp.
Oxford Square Capital Corp. is a publicly-traded business development company principally investing in syndicated bank loans and, to a lesser extent, debt and equity tranches of collateralized loan obligation (“CLO”) vehicles. CLO investments may also include warehouse facilities, which are financing structures intended to aggregate loans that may be used to form the basis of a CLO vehicle.
Contact:
Bruce Rubin
203-983-5280