Category: Business

  • MIL-OSI: Cyber A.I. Group and ThinkEquity Execute Agreement for Investment Banking Services

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, Oct. 18, 2024 (GLOBE NEWSWIRE) — Cyber A.I. Group, Inc., an emerging growth Cybersecurity, Artificial Intelligence and IT services company engaged in the acquisition of a broad spectrum of Cybersecurity service providers on an international basis, and New York-based ThinkEquity LLC, an investment bank specializing in public and private capital raises, as well as M&A transactions, today announced they have entered into a definitive engagement agreement to provide investment banking services, with an emphasis on secured debt and convertible debt offerings in support of Cyber A.I. Group’s acquisition strategy.

    The engagement with ThinkEquity represents a crucial step for Cyber A.I. Group as it seeks to expand its footprint as part of its stated mission of reaching $100M in revenue as part of its Buy & Build approach. ThinkEquity will be focused on identifying debt providers to support Cyber A.I. Group’s long-term vision for innovation and market leadership.

    “The team at ThinkEquity are proven leaders in the capital markets, having completed billions of dollars of public and private capital raises over the years,” said A.J. Cervantes, Jr., Executive Chairman of Cyber A.I. Group. “We look forward to working with ThinkEquity as they leverage their expertise to accelerate Cyber A.I. Group’s expansion efforts while supporting the Company’s mission of enhancing Cybersecurity through our Buy & Build strategy and A.I.-driven solutions.”

    ThinkEquity’s capabilities include full-service investment banking, equity research, institutional sales, trading, debt placements and mergers and acquisitions. In particular, ThinkEquity’s Debt Capital Markets group, has structured over $1 billion of debt financing for companies, with a strong focus on the technology, healthcare, industrials, cleantech, fintech, specialty finance, entertainment and cybersecurity sectors.

    “Cyber A.I. Group is poised for significant growth through the execution of their expansion initiatives in the technology and Artificial Intelligence verticals,” said Jeff Singer, Head of Debt Capital Markets at ThinkEquity. “To support this growth, we will leverage our capital markets expertise and longstanding relationships across regional banks, hedge funds and family offices. Our team at ThinkEquity is looking forward to helping Cyber A.I. Group achieve their long-term growth objectives.”

    This engagement with Cyber A.I. Group comes at a time of accelerating interest in A.I.-driven technologies, with the global A.I. market projected to grow by leaps and bounds in the coming years.

    About ThinkEquity LLC

    ThinkEquity is a boutique investment bank created by experienced professionals collectively financing over $50 billion of public and private capital raises, restructurings, and mergers and acquisitions. For more information, please visit: http://www.think-equity.com.

    About Cyber A.I. Group

    Cyber A.I. Group, Inc. is an international company engaged in the acquisition and management of worldwide Cybersecurity and IT services firms. Cyber A.I. is pursuing a highly proactive “Buy & Build” strategy to rapidly expand operations internationally by acquiring a broad spectrum of IT services companies and repositioning them to address fast-growing market needs for Cybersecurity and Artificial Intelligence (A.I.) markets. The Company has developed an active pipeline of 100+ perspective acquisitions which are in various stages of analysis. The Company’s initial target is to acquire multiple companies representing aggregate revenues annualizing $100 million. Cyber A.I.’s business model is focused on the acquisition and consolidation of IT services companies with proven ability in broad conventional technology services with strong cash flow and enhance performance through A.I.-driven Cybersecurity initiatives. This emphasis on conventional companies with strong revenues and EBITDA distinguishes Cyber A.I. from the explosion of A.I. startups that may be pinning their future on a single technological breakthrough which may never materialize. This “Buy &Build” strategy provides Cyber A.I. with the maximum flexibility for diversification and risk management for moving into new fields and addressing fast moving market opportunities. For additional information, please visit: cyberaigroup.io.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/be89e923-4b5f-4b1f-808a-e52448bffc77

    ttps://www.globenewswire.com/NewsRoom/AttachmentNg/3fb0fbf5-f39d-47e5-bbb1-5fc9ff95acd1

    A video accompanying this announcement is available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/a0aca919-7375-4379-892d-b2eb2235d986

    The MIL Network

  • MIL-OSI: MidCap Financial Investment Corporation Amends and Extends Its Senior Secured Revolving Credit Facility

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 18, 2024 (GLOBE NEWSWIRE) — MidCap Financial Investment Corporation (NASDAQ: MFIC) (the “Company”) announced today that it has amended and extended its senior secured, multi-currency, revolving credit facility (the “Facility”). Lender commitments under the Facility total $1.660 billion, excluding non-extending lender commitments, an increase of $110 million. Lender commitments under the Facility total $1.815 billion, including $155 million of commitments from non-extending lenders which are set to terminate on December 22, 2024. The final maturity date under the Facility for extending lenders was extended from April 19, 2028, to October 17, 2029. The remaining material business terms of the Facility will remain substantially the same.

    JPMorgan Chase Bank, N.A., Truist Securities, Inc., BMO Capital Markets Corp., and MUFG Bank, LTD. are Joint Bookrunners and Joint Lead Arrangers on the Facility. JPMorgan Chase Bank, N.A is the Administrative Agent on the Facility.

    The foregoing description is only a summary of the material provisions of the Facility and is qualified in its entirety by reference to a copy of the Facility, which is filed as Exhibit to the Company’s current report on Form 8-K filed with the Securities and Exchange Commission on October 18, 2024.

    About MidCap Financial Investment Corporation

    MidCap Financial Investment Corporation (NASDAQ: MFIC) is a closed-end, externally managed, diversified management investment company that has elected to be treated as a business development company (“BDC”) under the Investment Company Act of 1940 (the “1940 Act”). For tax purposes, the Company has elected to be treated as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). The Company is externally managed by the Investment Adviser, an affiliate of Apollo Global Management, Inc. and its consolidated subsidiaries (“Apollo”), a high-growth global alternative asset manager. The Company’s investment objective is to generate current income and, to a lesser extent, long-term capital appreciation. The Company primarily invests in directly originated and privately negotiated first lien senior secured loans to privately held U.S. middle-market companies, which the Company generally defines as companies with less than $75 million in EBITDA, as may be adjusted for market disruptions, mergers and acquisitions-related charges and synergies, and other items. To a lesser extent, the Company may invest in other types of securities including, first lien unitranche, second lien senior secured, unsecured, subordinated, and mezzanine loans, and equities in both private and public middle market companies. For more information, please visit http://www.midcapfinancialic.com.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties, including, but not limited to, statements as to our future operating results; our business prospects and the prospects of our portfolio companies; the impact of investments that we expect to make; our contractual arrangements and relationships with third parties; the dependence of our future success on the general economy and its impact on the industries in which we invest; the ability of our portfolio companies to achieve their objectives; our expected financings and investments; the adequacy of our cash resources and working capital; and the timing of cash flows, if any, from the operations of our portfolio companies.

    We may use words such as “anticipates,” “believes,” “expects,” “intends,” “will,” “should,” “may” and similar expressions to identify forward-looking statements. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations. Statements regarding the following subjects, among others, may be forward-looking: the return on equity; the yield on investments; the ability to borrow to finance assets; new strategic initiatives; the ability to reposition the investment portfolio; the market outlook; future investment activity; and risks associated with investing in real estate assets, including changes in business conditions and the general economy. Undue reliance should not be placed on such forward-looking statements as such statements speak only as of the date on which they are made. We do not undertake to update our forward-looking statements unless required by law.

    Contact

    Elizabeth Besen
    Investor Relations Manager
    MidCap Financial Investment Corporation
    (212) 822-0625
    ebesen@apollo.com

    The MIL Network

  • MIL-OSI: P10 Schedules Third Quarter 2024 Earnings Release for Thursday, November 7, 2024

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Oct. 18, 2024 (GLOBE NEWSWIRE) — P10, Inc. (NYSE: PX), a leading private markets solutions provider, today announced it will release its third quarter 2024 results on Thursday, November 7, 2024, after U.S. markets close.

    The company will also host a conference call at 5:00 p.m. Eastern Time the same day. The webcast may be accessed here. All participants joining by telephone should register here for personal dial-in and PIN numbers.

    For those unable to participate in the live call, a replay will be made available on P10’s investor relations page at ir.p10alts.com.

    About P10
    P10 is a leading multi-asset class private markets solutions provider in the alternative asset management industry. P10’s mission is to provide its investors differentiated access to a broad set of investment solutions that address their diverse investment needs within private markets. As of June 30, 2024, P10 has a global investor base of more than 3,700 investors across 50 states, 60 countries, and six continents, which includes some of the world’s largest pension funds, endowments, foundations, corporate pensions, and financial institutions. Visit http://www.p10alts.com.

    Ownership Limitations
    P10’s Certificate of Incorporation contains certain provisions for the protection of tax benefits relating to P10’s net operating losses. Such provisions generally void transfers of shares that would result in the creation of a new 4.99% shareholder or result in an existing 4.99% shareholder acquiring additional shares of P10, and it expires at the third anniversary of the IPO, October 2024.

    P10 Investor Contact:
    info@p10alts.com

    P10 Media Contact:
    Taylor Donahue
    pro-p10@prosek.com  

    The MIL Network

  • MIL-OSI: James River To Hold Its Third Quarter Earnings Conference Call on Tuesday, November 12, 2024

    Source: GlobeNewswire (MIL-OSI)

    PEMBROKE, Bermuda, Oct. 18, 2024 (GLOBE NEWSWIRE) — James River Group Holdings, Ltd. (NASDAQ: JRVR) will release third quarter 2024 earnings after the market closes on Monday, November 11, 2024. It will also host an earnings conference call on Tuesday, November 12, 2024 beginning at 8:30 a.m. (Eastern Time).

    The conference call may be accessed by dialing (800) 715-9871, conference ID 6261499, or via the investor website at https://investors.jrvrgroup.com. A replay will also be available in the same location.

    About James River Group Holdings, Ltd.

    James River Group Holdings, Ltd. is a Bermuda-based insurance holding company that owns and operates a group of specialty insurance companies. The Company operates in two specialty property-casualty insurance segments: Excess and Surplus Lines and Specialty Admitted Insurance. Each of the Company’s regulated insurance subsidiaries are rated “A-” (Excellent) by A.M. Best Company. Visit James River Group Holdings, Ltd. on the web at http://www.jrvrgroup.com.

    For more information contact:

    Zachary Shytle
    Senior Analyst, Investor Relations and Investments
    (980) 249-6848
    InvestorRelations@james-river-group.com

    The MIL Network

  • MIL-OSI: Advent Convertible and Income Fund (NYSE: AVK) Announces Preliminary Results of Rights Offering

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 18, 2024 (GLOBE NEWSWIRE) — Advent Convertible and Income Fund (NYSE: AVK) (the “Fund”) today announced the completion and preliminary results of its transferable rights offering (the “Offer”) which commenced on September 20, 2024 and expired on October 17, 2024 (the “Expiration Date”). The Offer entitled Rights holders to subscribe for common shares of beneficial interest (“Common Shares”) of the Fund. Pursuant to the Offer, the Fund issued one transferable right (a “Right”) for each Common Share held by shareholders of record as of September 20, 2024. Holders of Rights were entitled to purchase one new Common Share for every three rights held (1 for 3).

    The subscription price for the Common Shares to be issued in the Offer was $11.28 per Common Share, which was equal to 90% of the net asset value per Common Share as of the Expiration Date.

    Based on the preliminary results, the Rights exercised in the Offer (including pursuant to over-subscription requests and notices of guaranteed delivery) will result in the issuance and sale of approximately 9,540,946 Common Shares and the gross proceeds of the Offer are expected to be approximately $108 million.

    The Common Shares subscribed for will be issued after completion of the allocation of the over-subscription Common Shares and receipt of all shareholder payments. The Common Shares subscribed for are expected to be issued on or about October 25, 2024. The Subscription Agent for the Offer will return to subscribing rights holders the full amount of any excess payments.

    The final results of the Offer will be announced at a later date.

    This document is not an offer to sell any securities and is not soliciting an offer to buy any securities in any jurisdiction where the offer or sale is not permitted. This document is not an offering, which can only be made by a prospectus supplement and accompanying prospectus. Investors should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. The Fund’s prospectus supplement and accompanying prospectus contain this and additional information about the Fund. 

    For further information regarding the Offer, or to obtain a prospectus supplement and the accompanying prospectus, please contact the Fund’s information agent:

    EQ Fund Solutions, LLC
    55 Challenger Road, Suite 201
    Ridgefield Park, New Jersey 07660
    (866) 342-1635

    Additional Information About the Fund

    The Fund is a diversified, closed-end management investment company with an investment objective of providing total return through a combination of capital appreciation and current income. The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its net assets, plus any borrowings for investment purposes, in a diversified portfolio of convertible securities and non-convertible income producing securities. The Fund’s shares are traded on the New York Stock Exchange under the symbol “AVK.”

    About Advent Capital Management, LLC

    Advent is an SEC-registered investment adviser headquartered in New York, NY. Advent’s investment discipline emphasizes capital structure research, encompassing equity fundamentals as well as credit research, with a focus on cash flow and asset values while seeking to maximize total return.

    About Guggenheim Investments

    Guggenheim Investments includes Guggenheim Funds Distributors, LLC (the servicing agent for the Fund). Advent Capital Management, LLC serves as Adviser for the Fund and is not affiliated with Guggenheim.

    IMPORTANT INFORMATION

    This press release contains certain statements that may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are “forward-looking statements.” Although the Fund and the Adviser believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the company’s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the Fund and the Adviser do not assume a duty to update this forward-looking statement.

    Contact:

    William T. Korver

    cefs@guggenheiminvestments.com

    NOT FDIC INSURED                 NO BANK GUARANTEE                 MAY LOSE VALUE

    The MIL Network

  • MIL-OSI Global: To make nuclear fusion a reliable energy source one day, scientists will first need to design heat- and radiation-resilient materials

    Source: The Conversation – USA – By Sophie Blondel, Research Assistant Professor of Nuclear Engineering, University of Tennessee

    A fusion experiment ran so hot that the wall materials facing the plasma retained defects. Christophe Roux/CEA IRFM, CC BY

    Fusion energy has the potential to be an effective clean energy source, as its reactions generate incredibly large amounts of energy. Fusion reactors aim to reproduce on Earth what happens in the core of the Sun, where very light elements merge and release energy in the process. Engineers can harness this energy to heat water and generate electricity through a steam turbine, but the path to fusion isn’t completely straightforward.

    Controlled nuclear fusion has several advantages over other power sources for generating electricity. For one, the fusion reaction itself doesn’t produce any carbon dioxide. There is no risk of meltdown, and the reaction doesn’t generate any long-lived radioactive waste.

    I’m a nuclear engineer who studies materials that scientists could use in fusion reactors. Fusion takes place at incredibly high temperatures. So to one day make fusion a feasible energy source, reactors will need to be built with materials that can survive the heat and irradiation generated by fusion reactions.

    Fusion material challenges

    Several types of elements can merge during a fusion reaction. The one most scientists prefer is deuterium plus tritium. These two elements have the highest likelihood of fusing at temperatures that a reactor can maintain. This reaction generates a helium atom and a neutron, which carries most of the energy from the reaction.

    Humans have successfully generated fusion reactions on Earth since 1952 – some even in their garage. But the trick now is to make it worth it. You need to get more energy out of the process than you put in to initiate the reaction.

    Fusion reactions happen in a very hot plasma, which is a state of matter similar to gas but made of charged particles. The plasma needs to stay extremely hot – over 100 million degrees Celsius – and condensed for the duration of the reaction.

    To keep the plasma hot and condensed and create a reaction that can keep going, you need special materials making up the reactor walls. You also need a cheap and reliable source of fuel.

    While deuterium is very common and obtained from water, tritium is very rare. A 1-gigawatt fusion reactor is expected to burn 56 kilograms of tritium annually. But the world has only about 25 kilograms of tritium commercially available.

    Researchers need to find alternative sources for tritium before fusion energy can get off the ground. One option is to have each reactor generating its own tritium through a system called the breeding blanket.

    The breeding blanket makes up the first layer of the plasma chamber walls and contains lithium that reacts with the neutrons generated in the fusion reaction to produce tritium. The blanket also converts the energy carried by these neutrons to heat.

    The fusion reaction chamber at ITER will electrify the plasma.

    Fusion devices also need a divertor, which extracts the heat and ash produced in the reaction. The divertor helps keep the reactions going for longer.

    These materials will be exposed to unprecedented levels of heat and particle bombardment. And there aren’t currently any experimental facilities to reproduce these conditions and test materials in a real-world scenario. So, the focus of my research is to bridge this gap using models and computer simulations.

    From the atom to full device

    My colleagues and I work on producing tools that can predict how the materials in a fusion reactor erode, and how their properties change when they are exposed to extreme heat and lots of particle radiation.

    As they get irradiated, defects can form and grow in these materials, which affect how well they react to heat and stress. In the future, we hope that government agencies and private companies can use these tools to design fusion power plants.

    Our approach, called multiscale modeling, consists of looking at the physics in these materials over different time and length scales with a range of computational models.

    We first study the phenomena happening in these materials at the atomic scale through accurate but expensive simulations. For instance, one simulation might examine how hydrogen moves within a material during irradiation.

    From these simulations, we look at properties such as diffusivity, which tells us how much the hydrogen can spread throughout the material.

    We can integrate the information from these atomic level simulations into less expensive simulations, which look at how the materials react at a larger scale. These larger-scale simulations are less expensive because they model the materials as a continuum instead of considering every single atom.

    The atomic-scale simulations could take weeks to run on a supercomputer, while the continuum one will take only a few hours.

    All this modeling work happening on computers is then compared with experimental results obtained in laboratories.

    For example, if one side of the material has hydrogen gas, we want to know how much hydrogen leaks to the other side of the material. If the model and the experimental results match, we can have confidence in the model and use it to predict the behavior of the same material under the conditions we would expect in a fusion device.

    If they don’t match, we go back to the atomic-scale simulations to investigate what we missed.

    Additionally, we can couple the larger-scale material model to plasma models. These models can tell us which parts of a fusion reactor will be the hottest or have the most particle bombardment. From there, we can evaluate more scenarios.

    For instance, if too much hydrogen leaks through the material during the operation of the fusion reactor, we could recommend making the material thicker in certain places, or adding something to trap the hydrogen.

    Designing new materials

    As the quest for commercial fusion energy continues, scientists will need to engineer more resilient materials. The field of possibilities is daunting – engineers can manufacture multiple elements together in many ways.

    You could combine two elements to create a new material, but how do you know what the right proportion is of each element? And what if you want to try mixing five or more elements together? It would take way too long to try to run our simulations for all of these possibilities.

    Thankfully, artificial intelligence is here to assist. By combining experimental and simulation results, analytical AI can recommend combinations that are most likely to have the properties we’re looking for, such as heat and stress resistance.

    The aim is to reduce the number of materials that an engineer would have to produce and test experimentally to save time and money.

    Sophie Blondel receives funding from the US Department of Energy.

    ref. To make nuclear fusion a reliable energy source one day, scientists will first need to design heat- and radiation-resilient materials – https://theconversation.com/to-make-nuclear-fusion-a-reliable-energy-source-one-day-scientists-will-first-need-to-design-heat-and-radiation-resilient-materials-238489

    MIL OSI – Global Reports

  • MIL-OSI Global: AI, cryptocurrencies and data privacy: Comparing the Trump and Harris records on technology regulation

    Source: The Conversation – USA – By Anjana Susarla, Professor of Information Systems, Michigan State University

    The Federal Trade Commission is one of the main venues for government regulation of big tech and its wares. Alpha Photo/Flickr, CC BY-NC

    It’s not surprising that technology regulation is an important issue in the 2024 U.S. presidential campaign.

    The past decade has seen advanced technologies, from social media algorithms to large language model artificial intelligence systems, profoundly affect society. These changes, which spanned the Trump and Biden-Harris administrations, spurred calls for the federal government to regulate the technologies and the powerful corporations that wield them.

    As a researcher of information systems and AI, I examined both candidates’ records on technology regulation. Here are the important differences.

    Algorithmic harms

    With artificial intelligence now widespread, governments worldwide are grappling with how to regulate various aspects of the technology. The candidates offer different visions for U.S. AI policy. One area where there is a stark difference is in recognizing and addressing algorithmic harms from the widespread use of AI technology.

    AI affects your life in ways that might escape your notice. Biases in algorithms used for lending and hiring decisions could end up reinforcing a vicious cycle of discrimination. For example, a student who can’t get a loan for college would then be less likely to get the education needed to pull herself out of poverty.

    At the AI Safety Summit in the U.K. in November 2023, Harris spoke of the promise of AI but also the perils from algorithmic bias, deepfakes and wrongful arrests. Biden signed an executive order on AI on Oct. 30, 2023, that recognized AI systems can pose unacceptable risks of harm to civil and human rights and individual well-being. In parallel, federal agencies such as the Federal Trade Commission have carried out enforcement actions to guard against algorithmic harms.

    President Joe Biden signs an executive order addressing the risks of artificial intelligence on Oct. 30, 2023, with Vice President Kamala Harris at his side.
    AP Photo/Evan Vucci

    By contrast, the Trump administration did not take a public stance on mitigation of algorithmic harms. Trump has said he wants to repeal President Biden’s AI executive order. In recent interviews, however, Trump noted the dangers from technologies such as deepfakes and challenges posed to security from AI systems, suggesting a willingness to engage with the growing risks from AI.

    Technological standards

    The Trump administration signed the American AI Initiative executive order on Feb. 11, 2019. The order pledged to double AI research investment and established the first set of national AI research institutes. The order also included a plan for AI technical standards and established guidance for the federal government’s use of AI. Trump also signed an executive order on Dec. 3, 2020, promoting the use of trustworthy AI in the federal government.

    The Biden-Harris administration has tried to go further. Harris convened the heads of Google, Microsoft and other tech companies at the White House on May 4, 2023, to undertake a set of voluntary commitments to safeguard individual rights. The Biden administration’s executive order contains an important initiative to probe the vulnerablity of very large-scale, general-purpose AI models trained on massive amounts of data. The goal is to determine the risks hackers pose to these models, including the ones that power OpenAI’s popular ChatGPT and DALL-E.

    Donald Trump departs from Washington D.C., on Feb. 11, 2019, shortly after signing an executive order on artificial intelligence that included setting technical standards.
    Nicholas Kamm/AFP via Getty Images

    Antitrust

    Antitrust law enforcement – restricting or conditioning mergers and acquisitions – is another way the federal government regulates the technology industry.

    The Trump administration’s antitrust dossier includes its attempt to block AT&T’s acquisition of Time Warner. The merger was eventually allowed by a federal judge after the FTC under the Trump administration filed a suit to block the deal. The Trump administration also filed an antitrust case against Google focused on its dominance in internet search.

    Biden signed an executive order on July 9, 2021, to enforce antitrust laws arising from the anticompetitive effects of dominant internet platforms. The order also targeted the acquisition of nascent competitors, the aggregation of data, unfair competition in attention markets and the surveillance of users. The Biden-Harris administration has filed antitrust cases against Apple and Google.

    The Biden-Harris administration’s merger guidelines in 2023 outlined rules to determine when mergers can be considered anticompetitive. While both administrations filed antitrust cases, the Biden administration’s antitrust push appears stronger in terms of its impact in potentially reorganizing or even orchestrating a breakup of dominant companies such as Google.

    Cryptocurrency

    The candidates have different approaches to cryptocurrency regulation. Late in his administration, Trump tweeted in support of cryptocurrency regulation. Also late in Trump’s administration, the federal Financial Crimes Enforcement Network proposed regulations that would have required financial firms to collect the identity of any cryptocurrency wallet to which a user sent funds. The regulations were not enacted.

    Trump has since shifted his position on cryptocurrencies. He has criticized existing U.S. laws and called for the United States to be a Bitcoin superpower. The Trump campaign is the first presidential campaign to accept payments in cryptocurrencies.

    The Biden-Harris administration, by contrast, has laid out regulatory restrictions on cryptocurrencies with the Securities and Exchange Commission, which brought about a series of enforcement actions. The White House vetoed the Financial Innovation and Technology for the 21st Century Act that aimed to clarify accounting for cryptocurrencies, a bill favored by the cryptocurrency industry.

    Data privacy

    Biden’s AI executive order calls on Congress to adopt privacy legislation, but it does not provide a legislative framework to do so. The Trump White House’s American AI Initiative executive order mentions privacy only in broad terms, calling for AI technologies to uphold “civil liberties, privacy, and American values.” The order did not mention how existing privacy protections would be enforced.

    Across the U.S., several states have tried to pass legislation addressing aspects of data privacy. At present, there is a patchwork of statewide initiatives and a lack of comprehensive data privacy legislation at the federal level.

    The paucity of federal data privacy protections is a stark reminder that while the candidates are addressing some of the challenges posed by developments in AI and technology more broadly, a lot still remains to be done to regulate technology in the public interest.

    Overall, the Biden administration’s efforts at antitrust and technology regulation seem broadly aligned with the goal of reining in technology companies and protecting consumers. It’s also reimagining monopoly protections for the 21st century. This seems to be the chief difference between the two administrations.

    Anjana Susarla receives funding from the National Institute of Health

    ref. AI, cryptocurrencies and data privacy: Comparing the Trump and Harris records on technology regulation – https://theconversation.com/ai-cryptocurrencies-and-data-privacy-comparing-the-trump-and-harris-records-on-technology-regulation-239676

    MIL OSI – Global Reports

  • MIL-OSI Global: During the American Revolution, Brits weren’t just facing off against white Protestant Christians − US patriots are diverse and have been since Day 1

    Source: The Conversation – USA – By Adam Jortner, Goodwin Philpott Eminent Professor of Religion, Auburn University

    A detail from the Washington Monument in Philadelphia, sculpted by Rudolf Siemering. PHAS/Universal Images Group via Getty Images

    In 1770, Barnard Gratz of Philadelphia wrote to a friend complaining about a recent speech by King George III. Gratz, an American patriot, wrote that the speech “was such narishkeit” that it was “not worth the postage.”

    Narishkeit is Yiddish for “nonsense.”

    Gratz was one of hundreds of Jews who joined the American Revolution as soldiers and leaders: Gershom Seixas led his synagogue out of New York when the British invaded and led what was probably the first Jewish prayer group in Connecticut. Solomon Bush earned the rank of lieutenant colonel in the American army; at the time, no Jew in Europe could serve as a military officer. At the battle of Beaufort, one of the patriot militias was nicknamed “the Jew Company” because 28 of its 40 members were Jewish.

    Yet belief persists that the American Revolution was somehow a Christian event – and that the country it created is therefore a Christian nation. This is a position usually defended with vague statements about what the Founding Fathers wanted. The general idea is that back in the day, everyone was Christian and so, of course, the founding was Christian. Yet neither the Declaration of Independence nor the Constitution refer to a “Christian nation” or a church. They don’t even mention Jesus Christ.

    Gershom Mendes Seixas, painted around 1784.
    Secret Egypt/Wikimedia Commons, CC BY-SA

    But as a historian, I didn’t want to get caught up in these kinds of arguments. I wanted to know something about the people who actually did the fighting in the war.

    What I discovered is that when it came to fighting Britain, there were plenty of Jewish patriots signing up. America’s revolutionaries were not a uniform bunch of Christian white guys. The Revolution was a religiously diverse place, from Jews and religious skeptics to Catholics and Christian dissenters. And that matters for how the U.S. defines itself and its freedom today.

    Jews join the cause

    When the war started in 1775, the roughly 2,500 Jews in the Colonies did not have religious freedom. British law allowed them to practice, but they were classified as “residents” rather than subjects. They could live there, but they had no say in the laws under which they lived. For the most part, only property-owning Protestant men could elect or be elected to their legislature. Jews were simply not considered people the way Protestant Christians were.

    So when the break with Britain arrived, American Jews flocked to the standard of liberty. Here at last was a chance to become citizens.

    Under British rule, anyone who exercised political authority had to take an oath affirming their Christian faith. The pro-independence groups and militias that sprung up amid the war had no such rules. Mordecai Sheftall, who lived in Georgia, was one of the few people there who had pledged to resist the Coercive Acts: Britain’s efforts to blockade Boston and place Massachusetts under military rule after the Boston Tea Party. When the war broke out, Sheftall became chairman of Georgia’s de facto government, in defiance of British rule.

    Jewish residents took up arms for independence, too. A South Carolina writer praised American Jews fighting for liberty, saying they were “as staunch as any other citizens of this state.” One signer of the Declaration of Independence, Benjamin Rush, believed “the Jews in all the states” were patriots. So did royalist Gov. James Wright of Georgia. When the British seized Savannah, Wright banned Jews from the province, calling them “violent rebels and persecutors of the King’s loyal subjects.”

    When the war ended, Philadelphia hosted a parade and all the clergy of the city were invited, including Jewish leaders. There was even a kosher table set out for them after the celebration.

    ‘Second-status’ Christians

    Nor were Jews the only marginalized group to join the cause. Roman Catholics also signed up. Like Jews, Catholics were barred under the British from serving in public office. As a Catholic, Charles Carroll could not have served in the royal government of Maryland, but he went on to sign both the Declaration of Independence and the Constitution.

    Charles Carroll, painted in the 1760s by Joshua Reynolds.
    Yale Center for British Art via Wikimedia Commons

    The Baptists of Virginia were also held in second-class status. The Colony’s state church did not recognize the Baptists, and they had to pay fines for preaching and even for holding Baptist weddings without state sanction. Virginia Baptists promised their support to the Revolution only if Virginia would offer them religious freedom. The Virginia Legislature complained but suspended its state church to build whatever support it could find. Virginia Baptists joined the fight in droves.

    Baptists, Catholics and Jews were not put off by any of the Revolution’s radical deists: a mostly unorganized group of religious thinkers who believed in God and reason, but not revelation or miracles. Their ranks included military officer Ethan Allen of Vermont, who later wrote a book denying the divinity of the Bible. The Revolution did not ask its members how they prayed.

    The urge for liberty spread beyond questions of religious differences. Although George Washington did not originally want to enlist Black men in the army, he realized the Revolution was doomed without them, and thousands of Black Americans joined the cause in the hope that liberty would mean the end of slavery. Women such as Deborah Sampson wore men’s clothing to take up arms against the British. The revolutionaries even had a Muslim ally in the form of Hyder Ali and his armies. The Muslim ruler of the kingdom of Mysore, in southern India, Ali fought with France against Britain in the 1780s, and American revolutionaries named a ship after him.

    Retired Marine Corps Col. Jonathan de Sola Mendes commemorates members of Shearith Israel, the congregation led by Gershom Seixas, who served in the American Revolution.
    Akiva123/Wikimedia Commons, CC BY-SA

    Here from the start

    In recent years, violence and anger have risen against minority groups, including Jewish and Muslim Americans. Part of the false rhetoric about these groups has been that they are “new”: that they appeared after America was created and are not really part of the American experiment. In fact, they were here from the beginning. They also fought for the Revolution. Their patriotism is as old as anyone else’s.

    Not only were the people who founded the nation not all Christian, but after independence was secured, religious freedom actually increased.

    States with synagogues all lost the Christian requirement for public office by 1792. Virginia created full religious freedom in 1786. And Washington wrote, “It is our boast, that a man’s religious tenets will not forfeit the protection of the laws, nor deprive him of the right of attaining and holding the highest offices that are known in the United States.”

    Calls for a Christian nation are historically false. They are not a reversion to something old; they are something new. Religious diversity in America, and the freedom of different religions to be full Americans? That’s old. As old as the Revolution.

    Adam Jortner does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. During the American Revolution, Brits weren’t just facing off against white Protestant Christians − US patriots are diverse and have been since Day 1 – https://theconversation.com/during-the-american-revolution-brits-werent-just-facing-off-against-white-protestant-christians-us-patriots-are-diverse-and-have-been-since-day-1-238482

    MIL OSI – Global Reports

  • MIL-OSI Global: What the history of blasphemy laws in the US and the fight for religious freedom can teach us today

    Source: The Conversation – USA – By Kristina M. Lee, Assistant Professor, University of South Dakota

    U.S. blasphemy laws reflect a complex fight for the freedom of religion and speech Getty Images

    Some 79 countries around the world continue to enforce blasphemy laws. And in places such as Afghanistan, Brunei, Iran, Nigeria, Pakistan and Saudi Arabia, violation of these measures can result in a death penalty.

    While the U.S. is not among those countries, it also has a long history of blasphemy laws. Many of the U.S. colonies established blasphemy laws, which became state laws. The U.S. Supreme Court did not rule that blasphemy was a form of protected speech until 1952. Even then, it has not always been protected.

    As a scholar of religious and political rhetoric, I believe the history of U.S. blasphemy laws reflects a complex fight for the freedom of religion and speech.

    Early US blasphemy laws

    U.S. colonies often developed legal protections for Christians to practice their religion. These safeguards often did not extend to non-Christians.

    Maryland’s Toleration Act of 1649, for example, was the first Colonial act to refer to the “free exercise” of religion and was designed to protect Christians from religious persecution from state officials. It did not, however, extend that “free exercise” of religion to non-Christians, instead declaring that anyone who blasphemes against God by cursing him or denying the existence of Jesus can be punished by death or the forfeiture of their lands to the state.

    In 1811, the U.S. witnessed one of its most infamous blasphemy trials, People v. Ruggles, at the New York Supreme Court. New York resident John Ruggles received a three-month prison sentence and a US$500 fine — about $12,000 in today’s money — for stating in public that “Jesus Christ was a bastard, and his mother must be a whore.”

    Chief Justice James Kent argued that people have freedom of religious opinion, but opinions that were malicious toward the majority stance of Christianity were an abuse of that right. He claimed similar attacks on other religions, such as Islam and Buddhism, would not be punishable by law, because “we are a Christian people” whose country does not draw on the doctrines of “those imposters.”

    Several years later, in 1824, a member of a debating society was convicted of blasphemy by the Pennsylvania Supreme Court after saying during a debate: “The Holy Scriptures were a mere fable, that they were a contradiction, and that although they contained a number of good things, yet they contained a great many lies.” In this case — Updegraph v. Commonwealth — the court argued that it was a “vulgarly shocking and insulting” statement that reflected “the highest offence” against public morals and was a disturbance to “public peace.”

    By the end of the 19th century, a prominent free thought movement that rejected religion as a guide for reason had begun to emerge. Movement leaders embraced the public critiquing of Christianity and challenged laws that favored Christians, such as blasphemy laws and mandatory Bible readings in public schools.

    Unsurprisingly, as historian Leigh Eric Schmidt has noted, speakers and writers in the movement regularly faced threats of blasphemy charges.

    By this time, however, even in cases where freethinkers were convicted of blasphemy, judges appeared to offer leniency.

    In 1887, C.B. Reynolds, an ex-preacher who became a prominent free thought speaker, was convicted of blasphemy in New Jersey after he publicly doubted the existence of God. He faced a $200 fine and up to a year in prison. The judge, however, only fined Reynolds $25, plus court costs.

    While it is unclear why Reynolds was offered leniency, historian Leonard Levy suggests that it may have been to avoid making Reynolds a martyr of the free thought movement by imprisoning him.

    Protecting blaspheme as free speech

    Growing calls for religious equality and freedom of speech increasingly swayed blasphemy cases in the 1900s.

    In 1917, for example, Michael X. Mockus, who had previously been convicted of blasphemy in Connecticut for his free thought lectures, was acquitted in a similar case in Illinois.

    While expressing dislike for blasphemy, Judge Perry L. Persons argued that the court’s job is not to determine which religion is right. He said “the Protestant, Catholic, Mormon, Mahammedan, the Jew, the Freethinker, the Atheist” must “all stand equal before the law.”

    Then, in 1952, the U.S. Supreme Court heard the case of Joseph Burstyn, Inc. v. Wilson after New York rescinded the license for the film “The Miracle.” The film was deemed sacrilegious because of its supposed mockery of the Catholic faith.

    The high court ruled that states could not ban sacrilegious films. That would be a violation of the separation of church and state, it ruled, and an unconstitutional restriction on freedom of religion and speech.

    Even after the Supreme Court decision, Americans continued to occasionally face blasphemy charges. But courts shot the charges down.

    In 1968, when Irving West, a 20-year-old veteran, told a policeman to “Get your goddam hands off me” after getting in a fight, he was charged with disorderly conduct and violating Maryland’s blasphemy law. When West appealed, a circuit court judge ruled the law was an unconstitutional violation of the First Amendment.

    Despite these rulings, in 1977, Pennsylvania enacted a blasphemy statute banning businesses from having blasphemous names after a local businessman tried to name his gun store “The God Damn Gun Shop.” It was not until 2010 that the Pennsylvania Supreme Court deemed this statute unconstitutional.

    The decision followed a case in which the owner of a film production company sued the state after his request to register his company under the name “I Choose Hell Productions, LLC” was denied on the grounds that it was blasphemous. Citing the 1952 Joseph Burstyn, Inc. v. Wilson case, the judge ruled that the statute was a violation of First Amendment rights.

    A sign of democratic freedom

    As historian David Sehat highlights in his book “The Myth of American Religious Freedom”, since America was founded there have been strong disagreements over what religious freedom should look like. Blasphemy laws have been a key part of this clash.

    Historically, many Americans have viewed the laws as justifiable. Some believed Christianity deserved special protection and reverence. Others, including some Founding Fathers such as John Adams and Thomas Jefferson, have viewed the same laws as unconstitutional restrictions of free speech and religious expression.

    There has recently been growing attention to the rise of Christian nationalism, the belief that the United States is or should be a Christian nation. Amid this rise, there have been attacks on free speech, such as the increase in book bans and restrictions on public protests. I believe it’s important that we, as Americans, learn from this history of the fight for the freedom of religion and speech.

    Kristina M. Lee is a board member for the Secular Student Alliance

    ref. What the history of blasphemy laws in the US and the fight for religious freedom can teach us today – https://theconversation.com/what-the-history-of-blasphemy-laws-in-the-us-and-the-fight-for-religious-freedom-can-teach-us-today-238173

    MIL OSI – Global Reports

  • MIL-OSI Russia: Delegation from Henan Urban Planning University visited SPbGASU

    MILES AXLE Translation. Region: Russian Federation –

    Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering – Svyatoslav Fedorov, Ekaterina Voznyak, Dmitry Ulrikh, Galina Tokunova, Sergey Mikhailov, Svetlana Golovina, Wang Jing, Elizaveta Druzhinina, Xing Yan, Zhang Jianguo and Ho Songtao

    A delegation from Henan University of Urban Development (PRC), a long-term partner of our university, paid a friendly visit to SPbGASU. During the meeting, the parties discussed solutions to specific issues of cooperation and prospects for its development.

    The delegation of Henan University of Architecture and Civil Engineering included Vice President of the University Wang Jing, Director of the Institute of Architectural Research Zhang Jianguo, Dean of the Faculty of Management Ho Songtao, Dean of the Faculty of Architecture and Urban Planning Xing Yan. The meeting was attended by the First Vice-Rector Svetlana Golovina, Vice-Rector for Educational Activities Sergey Mikhailov, Vice-Rector for Economics and Finance Elizaveta Druzhinina, Dean of the Faculty of Architecture Ekaterina Voznyak, Dean of the Faculty of Economics and Management Galina Tokunova, Dean of the Faculty of Environmental Engineering and Urban Economy Dmitry Ulrikh, Head of the Department of Water Use and Ecology Svyatoslav Fedorov, Head of the International Activities Department Shuainat Akhmadulaeva.

    Svetlana Golovina emphasized that today, universities and academic institutions in China are beacons of advanced knowledge, scientific discoveries and high-quality education. They not only make a significant contribution to the rapid development of their country, but have also become an integral and important part of the global academic community.

    “Our university traditionally pays great attention to the implementation of scientific and educational projects with universities in China. Since 2017, the most dynamically developing relations are with Henan University of Urban Development. This cooperation includes a wide range of areas, the implementation of joint educational programs, academic exchange of teachers and students, holding joint summer schools, implementing scientific and technical developments, holding scientific and practical conferences, expanding the laboratory base and publishing activities. Over the past year alone, more than 70 of our students have become familiar with the history, culture, and system of professional education of China as part of the academic mobility program. Currently, ten students from Henan University are on an exchange program at our university,” noted Svetlana Golovina.

    The First Vice-Rector added that since 2020, SPbGASU has been participating in the implementation of an educational program for training bachelors in the water supply and sanitation program, financed by the Chinese side. Up to 20 teachers from seven departments of our university took part in this work annually. And today there is an opportunity and need to discuss the further course of implementation of this project.

    Wang Jing shares a similar opinion. The Vice President recalled that the history of cooperation between our countries and universities has a long history. Since the Soviet period, both countries have cooperated in various urban development and architectural projects.

    “Today, our cooperation is developing at the management level, and the ties between the teaching staff and students are strengthening. This is important. Our universities have many similar educational programs: architecture, urban planning, engineering ecology, water management. We support the policy of openness, develop international cooperation, and SPbGASU has become our closest partner. The current meeting will help strengthen our diverse cooperation, including in organizing the educational process,” said Wang Jing.

    Currently, 37 students from Henan University of Urban Planning are studying at SPbGASU, including 22 master’s students and 15 postgraduates. As was emphasized by the parties, such successful experience needs to be expanded in different directions. Ekaterina Voznyak gave examples of active cooperation development. Thus, students from both universities took part in the architectural competition “ArchConcept”, the Chinese-Russian competition “The Future is Coming!” Also, students from SPbGASU completed an internship at Henan University of Urban Planning.

    The delegation from China was also interested in the Faculty of Economics and Management of SPbGASU, whose activities were introduced by Galina Tokunova.

    “We highly value our partnership and are confident that through joint efforts we will strengthen the ties between our universities,” summed up Svetlana Golovina.

    During their stay at SPbGASU, the delegation visited the historical information center, the testing center, the architectural faculty, the department of heat and gas supply and ventilation, and an exhibition of works by Chinese and Soviet scientists in the field of architectural and construction art (mid-second half of the 20th century) in the scientific and technical library.

    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.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://www.spbgasu.ru/nevs-and-events/nevs/a delegation-of-Henan-urban-planning-university-visited-spbgasu-

    MIL OSI Russia News

  • MIL-OSI Russia: SUM updated the process of organizing project-based learning

    MILES AXLE Translation. Region: Russian Federation –

    Source: State University of Management – Official website of the State –

    The Project Office of the Department of Acceleration Programs and Project-Based Learning of the State University of Management reports on innovations in the organization of project-based learning processes, mandatory for 1st-3rd year full-time undergraduate students.

    This academic year, within the framework of project-based learning, thematic events of the project day were organized within the framework of the functioning of the Project-based Learning Support Clubs, organized by all departments of the State University of Management, as well as within the framework of the activities of the structural divisions of the State University of Management participating in the implementation of project-based learning (Project Mentoring Center, Business Accelerator, Business Incubator, and others).

    To participate in the Project Day events, you now need to join the Project-Based Learning at GUU community on the MakeEvents platform (unified login data with the BusinessChain platform). It will have an event calendar available, registration for events will be conducted, and attendance at Project Day events will be monitored.

    In order for all data to be loaded correctly and you to avoid problems with accounting for event attendance, each 1st-3rd year undergraduate student is required to register (if not already done) and fill out a personal profile in strict accordance with the registration instructions. For other students – optional.

    At the end of each event, check your attendance record.

    We remind you that the choice of events for participation is voluntary and should be based on personal preferences and the direction of your own project activities. However, within the framework of the discipline “Project Work” all students are required to attend at least 10 project day events per semester.

    All events held during the project day are held with the aim of sharing experience, discussing current issues and trends in the field of project management and contribute to the development of students’ universal, professional and project competencies.

    Subscribe to the TG channel “Our GUU” Date of publication: 10/18/2024

    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.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    SUM updated the process of organizing project-based learning

    MIL OSI Russia News

  • MIL-OSI Global: What the killing of Hamas leader Yahya Sinwar could mean for the Middle East – expert Q&A

    Source: The Conversation – UK – By Scott Lucas, Professor of International Politics, Clinton Institute, University College Dublin

    Israel has announced it has killed Hamas military leader Yahya Sinwar in Gaza. Sinwar was apparently killed in a chance encounter on October 16 after a tank unit opened fire on a group of Palestinian men running into a building in Rafah in the southern Gaza Strip. His body was found in the rubble and later identified as the Hamas leader.

    It’s an important moment in the conflict between Israel and Hamas. Sinwar’s death follows a campaign of assassination of top Hamas leaders by Israel since the latest round of hostilities began after the Hamas attack on Israel of October 7 2023.

    Middle East analyst Scott Lucas of University College Dublin addresses some of the key issues raised by Sinwar’s killing.

    How badly Sinwar’s death hit Hamas’s command structure?

    Just over a year after its mass October 7 killings inside Israel, overseen by Yahya Sinwar, Hamas as an organisation is in disarray. It is not just the killing of Sinwar in the chance encounter with Israeli forces in Rafah. Sinwar’s death adds to a lengthy roll call of top Hamas leaders during the past year.

    Principally, this includes Mohammed Deif, who planned the October 7 attacks, and Hamas’s political leader Ismail Haniyeh, who was killed in Beirut on July 31. These three are just the most prominent identities among a host of other senior officials and military commanders killed by Israel in Gaza or Lebanon.

    Sinwar’s younger brother, Mohammed, 49, is likely to take over military command. And veteran figures such as Khaled Meshaal – who led Hamas’s political bureau from 1996 to 2017 – remain. But they will struggle to sustain the organisation, particularly if the Israeli government presses its military advantage and continues to identify and assassinate Hamas’s high command.

    But that does not mean that Hamas as a movement is finished. Mass killing, even of its leaders, could galvanise it in the longer run. Those who survive will move up through the ranks, and the spirit of resistance and resentment could bring in more recruits.

    Israel’s prime minister, Benjamin Netanyahu, can claim “victory” over Sinwar, Haniyeh and Deif. But victory over Hamas, particularly if Israel pursues an open-ended occupation in Gaza, may not be assured.

    What did Sinwar represent as a symbol of Palestinian resistance?

    For many in Palestine and beyond, Sinwar will be hailed as a martyr and icon of resistance. He was with Hamas from its first years, spent 22 years in an Israeli prison, and took command in Gaza from 2017. He never wavered in his belief that Hamas would prevail over Israel’s blockade, detentions, and military operations.

    But for others, Sinwar may be remembered as a divisive, even cruel figure. He built his career in Hamas on the killing of supposed “collaborators” with Israel. He was suspected of the torture and execution of rivals. And his leadership of the October 7 mass killings may be recalled as “resistance” which needlessly sacrificed the lives of tens of thousands and displaced almost 2 million of those whom he was supposedly representing.

    Does his death clear the way for a younger generation more amenable to a ceasefire deal and the return of the hostages?

    It will take months, perhaps years before we see where that “younger generation” will take Hamas. In the meantime, the interim political and military command of the battered organisation will face their immediate challenge. Can they still get some return, such as the freeing of Palestinians from Israeli prisons and the continued presence of Hamas in Gaza, in exchange for the release of the hostages? Or do they have to accept capitulation, possible expulsion, and Israeli occupation?

    Barring an unexpected change in the US position, putting pressure on Netanyahu, all the cards are in Israel’s hand for now.

    What’s Israel’s next move?

    Ask Netanyahu. He has the option of proclaiming “mission accomplished”. However, that will not be true for many Israelis as long as the hostages are not returned. Without that resolution, Netanyahu will run the risk of losing power if forced to an election and even the resumption of court proceedings over bribery charges if he halts military operations.

    Israel’s expansion of the war into Lebanon has improved his position to an extent. It has reconciled him with the defense minister, Yoav Gallant, who was privately saying Israel had no “endgame” in Gaza. And it has improved his approval ratings.

    So it remains in his interest to continue hostilities in both Gaza and Lebanon. And indeed Netanyahu has signalled his intention to press on. But he has also said that while it is not the end, it is “the beginning of the end”.

    While Netanyahu may pay lip service to the resumption of ceasefire talks, that will likely be conditional on the expulsion of Hamas from Gaza. And with no clear alternative for governance in the Strip, that points – as with the West Bank – to indefinite Israeli occupation.




    Read more:
    Israel: what hardliners in Netanyahu’s government want from the war


    How will Iran respond?

    With the decimation of its Hamas and Hezbollah allies, Iran’s regime appears to have no good options at present. Amid economic and political problems at home and outmatched by Israel in military capabilities, the regime has avoided direct confrontation.

    Iran could continue to pursue “indirect” war through militias in Iraq and Syria attacking US personnel with rockets and drones, or with Yemen’s Houthis lobbing missiles at Israel and again threatening Red Sea shipping. It could expand cyber-attacks and its own attempted assassinations abroad.

    But those options would have little immediate effect, and would risk retaliation from the US and further isolation in the international community. The US is already using B-2 stealth bombers to attack Houthi bases in Yemen.

    So for now, Iran’s leaders and their spokespeople are likely to take the political route, condemning Israel and proclaiming that the “axis of resistance” will be strengthened through its losses.




    Read more:
    As its conflict with Israel escalates, could Iran now acquire a nuclear bomb?


    Can Washington now pressure Israel to do a deal with the Palestinians?

    This is perhaps the easiest question to answer. Unless the US cuts military aid to Israel or comes out for an unconditional ceasefire, it has little if any leverage with Netanyahu.

    How does this affect the US election campaign?

    Foreign policy is rarely a priority for most US voters, and even the mass killing of the past year is unlikely to change that. But on the margins of the US presidential election, the escalating toll in Gaza and Lebanon could alienate Arab American voters from the Democrats in Michigan, one of the seven states that will decide the contest.

    More broadly, the impression of Netanyahu pushing around a “weak” Biden administration could take hold. And in a toss-up election, those margins could be decisive.




    Read more:
    How the Middle East conflict could influence the US election – and why Arab Americans in swing states might vote for Trump


    Scott Lucas does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. What the killing of Hamas leader Yahya Sinwar could mean for the Middle East – expert Q&A – https://theconversation.com/what-the-killing-of-hamas-leader-yahya-sinwar-could-mean-for-the-middle-east-expert-qanda-241699

    MIL OSI – Global Reports

  • MIL-OSI Global: What the killing of Hamas leader Yahya Sinwar could mean for the Middle East – expert Q&A

    Source: The Conversation – UK – By Scott Lucas, Professor of International Politics, Clinton Institute, University College Dublin

    Israel has announced it has killed Hamas military leader Yahya Sinwar in Gaza. Sinwar was apparently killed in a chance encounter on October 16 after a tank unit opened fire on a group of Palestinian men running into a building in Rafah in the southern Gaza Strip. His body was found in the rubble and later identified as the Hamas leader.

    It’s an important moment in the conflict between Israel and Hamas. Sinwar’s death follows a campaign of assassination of top Hamas leaders by Israel since the latest round of hostilities began after the Hamas attack on Israel of October 7 2023.

    Middle East analyst Scott Lucas of University College Dublin addresses some of the key issues raised by Sinwar’s killing.

    How badly Sinwar’s death hit Hamas’s command structure?

    Just over a year after its mass October 7 killings inside Israel, overseen by Yahya Sinwar, Hamas as an organisation is in disarray. It is not just the killing of Sinwar in the chance encounter with Israeli forces in Rafah. Sinwar’s death adds to a lengthy roll call of top Hamas leaders during the past year.

    Principally, this includes Mohammed Deif, who planned the October 7 attacks, and Hamas’s political leader Ismail Haniyeh, who was killed in Beirut on July 31. These three are just the most prominent identities among a host of other senior officials and military commanders killed by Israel in Gaza or Lebanon.

    Sinwar’s younger brother, Mohammed, 49, is likely to take over military command. And veteran figures such as Khaled Meshaal – who led Hamas’s political bureau from 1996 to 2017 – remain. But they will struggle to sustain the organisation, particularly if the Israeli government presses its military advantage and continues to identify and assassinate Hamas’s high command.

    But that does not mean that Hamas as a movement is finished. Mass killing, even of its leaders, could galvanise it in the longer run. Those who survive will move up through the ranks, and the spirit of resistance and resentment could bring in more recruits.

    Israel’s prime minister, Benjamin Netanyahu, can claim “victory” over Sinwar, Haniyeh and Deif. But victory over Hamas, particularly if Israel pursues an open-ended occupation in Gaza, may not be assured.

    What did Sinwar represent as a symbol of Palestinian resistance?

    For many in Palestine and beyond, Sinwar will be hailed as a martyr and icon of resistance. He was with Hamas from its first years, spent 22 years in an Israeli prison, and took command in Gaza from 2017. He never wavered in his belief that Hamas would prevail over Israel’s blockade, detentions, and military operations.

    But for others, Sinwar may be remembered as a divisive, even cruel figure. He built his career in Hamas on the killing of supposed “collaborators” with Israel. He was suspected of the torture and execution of rivals. And his leadership of the October 7 mass killings may be recalled as “resistance” which needlessly sacrificed the lives of tens of thousands and displaced almost 2 million of those whom he was supposedly representing.

    Does his death clear the way for a younger generation more amenable to a ceasefire deal and the return of the hostages?

    It will take months, perhaps years before we see where that “younger generation” will take Hamas. In the meantime, the interim political and military command of the battered organisation will face their immediate challenge. Can they still get some return, such as the freeing of Palestinians from Israeli prisons and the continued presence of Hamas in Gaza, in exchange for the release of the hostages? Or do they have to accept capitulation, possible expulsion, and Israeli occupation?

    Barring an unexpected change in the US position, putting pressure on Netanyahu, all the cards are in Israel’s hand for now.

    What’s Israel’s next move?

    Ask Netanyahu. He has the option of proclaiming “mission accomplished”. However, that will not be true for many Israelis as long as the hostages are not returned. Without that resolution, Netanyahu will run the risk of losing power if forced to an election and even the resumption of court proceedings over bribery charges if he halts military operations.

    Israel’s expansion of the war into Lebanon has improved his position to an extent. It has reconciled him with the defense minister, Yoav Gallant, who was privately saying Israel had no “endgame” in Gaza. And it has improved his approval ratings.

    So it remains in his interest to continue hostilities in both Gaza and Lebanon. And indeed Netanyahu has signalled his intention to press on. But he has also said that while it is not the end, it is “the beginning of the end”.

    While Netanyahu may pay lip service to the resumption of ceasefire talks, that will likely be conditional on the expulsion of Hamas from Gaza. And with no clear alternative for governance in the Strip, that points – as with the West Bank – to indefinite Israeli occupation.




    Read more:
    Israel: what hardliners in Netanyahu’s government want from the war


    How will Iran respond?

    With the decimation of its Hamas and Hezbollah allies, Iran’s regime appears to have no good options at present. Amid economic and political problems at home and outmatched by Israel in military capabilities, the regime has avoided direct confrontation.

    Iran could continue to pursue “indirect” war through militias in Iraq and Syria attacking US personnel with rockets and drones, or with Yemen’s Houthis lobbing missiles at Israel and again threatening Red Sea shipping. It could expand cyber-attacks and its own attempted assassinations abroad.

    But those options would have little immediate effect, and would risk retaliation from the US and further isolation in the international community. The US is already using B-2 stealth bombers to attack Houthi bases in Yemen.

    So for now, Iran’s leaders and their spokespeople are likely to take the political route, condemning Israel and proclaiming that the “axis of resistance” will be strengthened through its losses.




    Read more:
    As its conflict with Israel escalates, could Iran now acquire a nuclear bomb?


    Can Washington now pressure Israel to do a deal with the Palestinians?

    This is perhaps the easiest question to answer. Unless the US cuts military aid to Israel or comes out for an unconditional ceasefire, it has little if any leverage with Netanyahu.

    How does this affect the US election campaign?

    Foreign policy is rarely a priority for most US voters, and even the mass killing of the past year is unlikely to change that. But on the margins of the US presidential election, the escalating toll in Gaza and Lebanon could alienate Arab American voters from the Democrats in Michigan, one of the seven states that will decide the contest.

    More broadly, the impression of Netanyahu pushing around a “weak” Biden administration could take hold. And in a toss-up election, those margins could be decisive.




    Read more:
    How the Middle East conflict could influence the US election – and why Arab Americans in swing states might vote for Trump


    Scott Lucas does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. What the killing of Hamas leader Yahya Sinwar could mean for the Middle East – expert Q&A – https://theconversation.com/what-the-killing-of-hamas-leader-yahya-sinwar-could-mean-for-the-middle-east-expert-qanda-241699

    MIL OSI – Global Reports

  • MIL-OSI: Canadian Banc Corp. Monthly Dividend Declaration for Class A & Preferred Share

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 18, 2024 (GLOBE NEWSWIRE) — Canadian Banc Corp. (The “Company”) declares its monthly distribution of $0.14238 for each Class A share and $0.06625 for each Preferred share. Distributions are payable November 8, 2024 to shareholders on record as at October 31, 2024.

    Under the distribution policy announced in November 2021, the monthly dividend payable on the Class A shares is determined by applying a 15% annualized rate on the volume weighted average market price (VWAP) of the Class A shares over the last 3 trading days of the preceding month. As a result, Class A shareholders of record on October 31, 2024 will receive a dividend of $0.14238 per share based on the VWAP of $11.39 payable on November 8, 2024. The yield will remain stable at 15.00% (based on the VWAP) under this distribution policy.

    Preferred shareholders will receive prime plus 1.50% with a minimum rate of 5.00% and a maximum rate of 8.00%. 

    Since inception Class A shareholders have received a total of $22.80 per share and Preferred shareholders have received a total of $10.77 per share inclusive of this distribution, for a combined total of $33.56. 

    The Company invests in a portfolio of six publicly traded Canadian Banks as follows: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, Bank of Nova Scotia, Toronto-Dominion Bank. Shares held within the portfolio are expected to range between 5-20% in weight but may vary at any time. To generate additional returns above the dividend income earned on the PRESS RELEASE portfolio, The Company engages in a selective covered call writing program.

    Distribution Details  
       
    Class A Share (BK) $0.14238
       
    Preferred Share (BK.PR.A) $0.06625
       
    Record Date: October 31, 2024
       
    Payable Date: November 8, 2024
       

    Investor Relations:
    1-877-478-2372
    Local: 416-304-4443
    http://www.canadianbanc.com
    info@quadravest.com

    The MIL Network

  • MIL-OSI: FINANCIAL 15 SPLIT CORP. Monthly Dividend Declaration for Class A & Preferred Share

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 18, 2024 (GLOBE NEWSWIRE) — Financial 15 Split Corp. (“Financial 15”) declares its regular monthly distribution of $0.12570 for each Class A share ($1.51 annualized) and $0.07708 for each Preferred share ($0.925 annually). Distributions are payable November 8, 2024 to shareholders on record as at October 31, 2024.

    Since inception Class A shareholders have received a total of $26.31 per share and Preferred shareholders have received a total of $11.97 per share inclusive of this distribution, for a combined total of $38.28.

    Financial 15 invests in a high quality portfolio consisting of 15 financial services companies made up of Canadian and U.S. issuers as follows: Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, Manulife Financial Corporation, Sun Life Financial, Great-West Lifeco, CI Financial Corp, Bank of America, Citigroup Inc., Goldman Sachs Group, JP Morgan Chase & Co. and Wells Fargo & Co.

    Distribution Details
       
    Class A Share (FTN) $0.12570
    Preferred Share (FTN.PR.A) $0.07708
    Record Date: October 31, 2024
    Payable Date: November 8, 2024
       

    Investor Relations: 1-877-478-2372
    Local: 416-304-4443
    http://www.financial15.com
    info@quadravest.com

    The MIL Network

  • MIL-OSI: Income Financial Declares Monthly Distribution

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 18, 2024 (GLOBE NEWSWIRE) — Income Financial Trust (“Income Financial”) declares its monthly distribution of $0.06642 per unit. The distribution is payable November 8, 2024 to unit holders on record as at October 31, 2024. 

    Under the distribution policy announced on November 18, 2013, the monthly distribution is determined by applying a 10.00% annualized rate on the volume weighted average market price (VWAP) of Income Financial’s units over the last 3 trading days of the preceding month. As a result, holders of record on October 31, 2024 will receive a dividend of $0.06642 per unit based on the VWAP of $7.97 payable on November 8, 2024. The yield will remain stable at 10.00% (based on the VWAP) under this distribution policy. 

    Income Financial unitholders have received a total of $38.66 per unit in distributions since inception, inclusive of this distribution. 

    Income Financial invests in a portfolio of North American financial services companies including some of the strongest Canadian & U.S. banks, life insurance and investment firms. 

    Distribution Details  
       
    Trust Unit (INC.UN) $0.06642
       
    Record Date: October 31, 2024
       
    Payable Date: November 8, 2024
       

    Investor Relations: 1-877-478-2372
    Local: 416-304-4443
    http://www.quadravest.com 
    info@quadravest.com 

    The MIL Network

  • MIL-OSI: DIVIDEND 15 SPLIT CORP. II Monthly Dividend Declaration for Class A & Preferred Share

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 18, 2024 (GLOBE NEWSWIRE) — Dividend 15 Split Corp. II (“Dividend 15 II”) declares its monthly distribution of $0.10000 for each Class A share and $0.04792 for each Preferred share. Distributions are payable November 8, 2024 to shareholders on record as at October 31, 2024.

    Since inception Class A shareholders have received a total of $15.30 per share and Preferred shareholders have received a total of $9.67 per share inclusive of this distribution, for a combined total of $24.97.

    Dividend 15 II invests in a high quality portfolio of leading Canadian dividend-yielding stocks as follows: Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, CI Financial Corp., BCE Inc., Manulife Financial, Enbridge, Sun Life Financial, TELUS Corporation, Thomson Reuters Corporation, TransAlta Corporation, TC Energy Corporation.

    Distribution Details
       
    Class A Share (DF) $0.10000
    Preferred Share (DF.PR.A) $0.04792
    Record Date: October 31, 2024
    Payable Date: November 8, 2024

    Investor Relations: 1-877-478-2372
    Local: 416-304-4443
    http://www.dividend15.com
    info@quadravest.com

    The MIL Network

  • MIL-OSI: FINANCIAL 15 SPLIT CORP. Monthly Dividend Declaration for Class A & Preferred Share

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 18, 2024 (GLOBE NEWSWIRE) — Financial 15 Split Corp. (“Financial 15”) declares its regular monthly distribution of $0.12570 for each Class A share ($1.51 annualized) and $0.07708 for each Preferred share ($0.925 annually). Distributions are payable November 8, 2024 to shareholders on record as at October 31, 2024.

    Since inception Class A shareholders have received a total of $26.31 per share and Preferred shareholders have received a total of $11.97 per share inclusive of this distribution, for a combined total of $38.28.

    Financial 15 invests in a high quality portfolio consisting of 15 financial services companies made up of Canadian and U.S. issuers as follows: Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, Manulife Financial Corporation, Sun Life Financial, Great-West Lifeco, CI Financial Corp, Bank of America, Citigroup Inc., Goldman Sachs Group, JP Morgan Chase & Co. and Wells Fargo & Co.

    Distribution Details
       
    Class A Share (FTN) $0.12570
    Preferred Share (FTN.PR.A) $0.07708
    Record Date: October 31, 2024
    Payable Date: November 8, 2024
       

    Investor Relations: 1-877-478-2372
    Local: 416-304-4443
    http://www.financial15.com
    info@quadravest.com

    The MIL Network

  • MIL-OSI: Canadian Banc Corp. Monthly Dividend Declaration for Class A & Preferred Share

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 18, 2024 (GLOBE NEWSWIRE) — Canadian Banc Corp. (The “Company”) declares its monthly distribution of $0.14238 for each Class A share and $0.06625 for each Preferred share. Distributions are payable November 8, 2024 to shareholders on record as at October 31, 2024.

    Under the distribution policy announced in November 2021, the monthly dividend payable on the Class A shares is determined by applying a 15% annualized rate on the volume weighted average market price (VWAP) of the Class A shares over the last 3 trading days of the preceding month. As a result, Class A shareholders of record on October 31, 2024 will receive a dividend of $0.14238 per share based on the VWAP of $11.39 payable on November 8, 2024. The yield will remain stable at 15.00% (based on the VWAP) under this distribution policy.

    Preferred shareholders will receive prime plus 1.50% with a minimum rate of 5.00% and a maximum rate of 8.00%. 

    Since inception Class A shareholders have received a total of $22.80 per share and Preferred shareholders have received a total of $10.77 per share inclusive of this distribution, for a combined total of $33.56. 

    The Company invests in a portfolio of six publicly traded Canadian Banks as follows: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, Bank of Nova Scotia, Toronto-Dominion Bank. Shares held within the portfolio are expected to range between 5-20% in weight but may vary at any time. To generate additional returns above the dividend income earned on the PRESS RELEASE portfolio, The Company engages in a selective covered call writing program.

    Distribution Details  
       
    Class A Share (BK) $0.14238
       
    Preferred Share (BK.PR.A) $0.06625
       
    Record Date: October 31, 2024
       
    Payable Date: November 8, 2024
       

    Investor Relations:
    1-877-478-2372
    Local: 416-304-4443
    http://www.canadianbanc.com
    info@quadravest.com

    The MIL Network

  • MIL-OSI: TDb Split Corp. Regular Monthly Dividend Declaration for Priority Equity Share

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 18, 2024 (GLOBE NEWSWIRE) — TDb Split Corp. (“TDb Split”) declares its regular monthly distribution of $0.04375 for each Priority Equity share ($0.525 annually). Distributions are payable November 8, 2024 to shareholders on record as at October 31, 2024.

    There will not be a distribution paid to the Class A Shares for October 31, 2024 as per the Prospectus which states no regular monthly dividends will be paid on the Class A shares in any month as long as the net asset value per unit is equal to or less than $12.50.

    The composition of TDb Split’s investment portfolio currently meets the requirements of the Priority Equity Portfolio Protection Plan (as described in the Annual Information Form).

    Since inception, Class A shareholders have received a total of $7.90 per share and Priority Equity shareholders have received a total of $9.05 per share inclusive of this distribution, for a combined total of $16.95.

    TDb Split invests in common shares of Toronto-Dominion Bank, a leading Canadian Financial institution.

    Distribution Details  
       
    Priority Equity Share (XTD.PR.A) $0.04375
    Record Date: October 31, 2024
    Payable Date: November 8, 2024
       
       

    Investor Relations: 1-877-478-2372
    Local: 416-304-4443
    http://www.tdbsplit.com
    info@quadravest.com

    The MIL Network

  • MIL-OSI: Commerce Split Monthly Dividend Declared for Class I and Class II Preferred Shares

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 18, 2024 (GLOBE NEWSWIRE) — New Commerce Split (The “Company”) declares its monthly distribution of $0.02500 per share ($0.30 annually), for Class I Preferred shareholders (YCM.PR.A), and $0.03125 per share ($0.375 annually) for Class II Preferred shareholders (YCM.PR.B). The Class I Preferred share dividends are paid at an annual rate of 6.00% based on the $5 repayment amount. Class II Preferred share dividends are paid at an annual rate of 7.50% based on their $5 repayment amount. Distributions are payable November 8, 2024 to shareholders on record as at October 31, 2024.

    The Company invests in common shares of Canadian Imperial Bank of Commerce, a Canadian financial institution.

    Distribution Details  
       
    Class I Preferred Share (YCM.PR.A) $0.02500
    Class II Preferred Share (YCM.PR.B) $0.03125
    Record Date: October 31, 2024
    Payable Date: November 8, 2024
       
       

    Investor Relations: 1-877-478-2372
    Local: 416-304-4443
    http://www.commercesplit.com
    info@quadravest.com

    The MIL Network

  • MIL-OSI: DIVIDEND 15 SPLIT CORP. II Monthly Dividend Declaration for Class A & Preferred Share

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 18, 2024 (GLOBE NEWSWIRE) — Dividend 15 Split Corp. II (“Dividend 15 II”) declares its monthly distribution of $0.10000 for each Class A share and $0.04792 for each Preferred share. Distributions are payable November 8, 2024 to shareholders on record as at October 31, 2024.

    Since inception Class A shareholders have received a total of $15.30 per share and Preferred shareholders have received a total of $9.67 per share inclusive of this distribution, for a combined total of $24.97.

    Dividend 15 II invests in a high quality portfolio of leading Canadian dividend-yielding stocks as follows: Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, CI Financial Corp., BCE Inc., Manulife Financial, Enbridge, Sun Life Financial, TELUS Corporation, Thomson Reuters Corporation, TransAlta Corporation, TC Energy Corporation.

    Distribution Details
       
    Class A Share (DF) $0.10000
    Preferred Share (DF.PR.A) $0.04792
    Record Date: October 31, 2024
    Payable Date: November 8, 2024

    Investor Relations: 1-877-478-2372
    Local: 416-304-4443
    http://www.dividend15.com
    info@quadravest.com

    The MIL Network

  • MIL-OSI Canada: Government of Canada investing nearly $50,000 in Algoma-area textile industry

    Source: Government of Canada News

    News release

    FedNor funds will help support the expansion of Masters Fibre Mill and Alpaca Farm

    October 18, 2024 – Richards Landing, Ontario – Federal Economic Development Agency for Northern Ontario – FedNor

    Terry Sheehan, Member of Parliament for Sault Ste. Marie, and Parliamentary Secretary to the Minister of Labour and Seniors, today announced an unconditionally repayable FedNor investment of $47,752 in the Masters Fibre Mill and Alpaca Farm. The announcement was made on behalf of the Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor

    The funds will be used to acquire new machinery and hardware and to receive relevant training, and to upgrade facilities. Specifically, Masters Mill will purchase an automated 3D knitting machine, which will allow the business to expand product offerings, increase revenues, and reach new markets. The equipment will support the creation of products such as knit sweaters, toques, and mitts, making Masters Mill the only company in Canada producing those items using only Canadian fibre.

    The FedNor funds announced today are provided through the Targeted Manufacturing Initiative for Northern Ontario (TMINO), which helps existing Northern Ontario manufacturers upgrade and improve capital equipment used in manufacturing processes, including information and communications technology, to improve their competitiveness and productivity.

    Quotes

    “Small business like Masters Fibre Mill and Alpaca Farm in Northen Ontario are essential to the Canadian economy and critical to supporting communities across the country. By investing in small businesses like these, the Government of Canada is building a stronger economy that works for everyone.”

    –       The Honourable Patty Hajdu, Minister of Indigenous Services and Minister Responsible for FedNor

    “St. Joseph Island is a highlight of Algoma region and attracts visitors from across Northern Ontario. By supporting Masters Mill, these FedNor funds are supporting a local small business, and small businesses support communities. This project will help create new opportunities while serving tourists and customers from near and far.”

    –       Terry Sheehan, Member of Parliament for Sault Ste. Marie, and Parliamentary secretary to the Minister of Labour and Seniors

    “The work we do at Masters Fibre Mill and Alpaca Farm is a labour of love. This project will allow us to create farm-to-fashion garments, which will help turn Canadian fibres into 100% designed and made-in-Canada finished products. We are proud to partner with FedNor in growing our business, and look forward to the future opportunities their investment will help create.”

    –       Lorna Masters, Owner, Masters Fibre Mill and Alpaca Farm

    Quick facts

    • Masters Fibre Mill and Alpaca Farm, located on St. Joseph Island, mills fibre from sheep and alpaca into finished products, such as yarn. They also maintain a small herd of alpacas to produce fibre.

    Associated links

    Contacts

    Jennifer Kozelj
    Press Secretary
    Office of the Minister of Indigenous Services and Minister responsible for FedNor
    jennifer.kozelj@sac-isc.gc.ca

    Federal Economic Development Agency for Northern Ontario
    Media Relations

    MIL OSI Canada News

  • MIL-OSI Global: Some people love to scare themselves in an already scary world − here’s the psychology of why

    Source: The Conversation – USA – By Sarah Kollat, Teaching Professor of Psychology, Penn State

    A controlled scary experience can leave you exhilarated and relaxed afterward. gremlin/E+ via Getty Images

    Fall for me as a teenager meant football games, homecoming dresses – and haunted houses. My friends organized group trips to the local fairground, where barn sheds were turned into halls of horror, and masked men nipped at our ankles with (chainless) chain saws as we waited in line, anticipating deeper frights to come once we were inside.

    I’m not the only one who loves a good scare. Halloween attractions company America Haunts estimates Americans are spending upward of US$500 million annually on haunted house entrance fees simply for the privilege of being frightened. And lots of fright fans don’t limit their horror entertainment to spooky season, gorging horror movies, shows and books all year long.

    To some people, this preoccupation with horror can seem tone deaf. School shootings, child abuse, war – the list of real-life horrors is endless. Why seek manufactured fear for entertainment when the world offers real terror in such large quantities?

    As a developmental psychologist who writes dark thrillers on the side, I find the intersection of psychology and fear intriguing. To explain what drives this fascination with fear, I point to the theory that emotions evolved as a universal experience in humans because they help us survive. Creating fear in otherwise safe lives can be enjoyable – and is a way for people to practice and prepare for real-life dangers.

    Fear can feel good

    Controlled fear experiences – where you can click your remote, close the book, or walk out of the haunted house whenever you want – offer the physiological high that fear triggers, without any real risk.

    When you perceive yourself under threat, adrenaline surges in your body and the evolutionary fight-or-flight response is activated. Your heart rate increases, you breathe deeper and faster, and your blood pressure goes up. Your body is preparing to defend itself against the danger or get away as fast as possible.

    This physical reaction is crucial when facing a real threat. When experiencing controlled fear – like jump scares in a zombie TV show – you get to enjoy this energized sensation, similar to a runner’s high, without any risks. And then, once the threat is dealt with, your body releases the neurotransmitter dopamine, which provides sensations of pleasure and relief.

    In one study, researchers found that people who visited a high-intensity haunted house as a controlled fear experience displayed less brain activity in response to stimuli and less anxiety post-exposure. This finding suggests that exposing yourself to horror films, scary stories or suspenseful video games can actually calm you afterward. The effect might also explain why my husband and I choose to relax by watching zombie shows after a busy day at work.

    Going through something frightening together – like a haunted house attraction – can be a bonding experience.
    AP Photo/John Locher

    The ties that bind

    An essential motivation for human beings is the sense of belonging to a social group. According to the surgeon general, Americans who miss those connections are caught up in an epidemic of loneliness, which leaves people at risk for mental and physical health issues.

    Going through intense fear experiences together strengthens the bonds between individuals. Good examples include veterans who served together in combat, survivors of natural disasters, and the “families” created in groups of first responders.

    I’m a volunteer firefighter, and the unique connection created through sharing intense threats, such as entering a burning building together, manifests in deep emotional bonds with my colleagues. After a significant fire call, we often note the improved morale and camaraderie of the firehouse. I feel a flood of positive emotions anytime I think of my firefighting partners, even when the events occurred months or years ago.

    Controlled fear experiences artificially create similar opportunities for bonding. Exposure to stress triggers not only the fight-or-flight response, but in many situations it also initiates what psychologists call the “tend-and-befriend” system. A perceived threat prompts humans to tend to offspring and create social-emotional bonds for protection and comfort. This system is largely regulated by the so-called “love hormone” oxytocin.

    The tend-and-befriend reaction is particularly likely when you experience stress around others with whom you have already established positive social connections. When you encounter stressors within your social network, your oxytocin levels rise to initiate social coping strategies. As a result, when you navigate a recreational fear experience like a haunted house with friends, you are setting the emotional stage to feel bonded with the people beside you.

    Sitting in the dark with friends while you watch a scary movie or navigating a haunted corn maze with a date is good for your health, in that it helps you strengthen those social connections.

    Consuming lots of horror as entertainment may make some people more resilient in real life.
    Edwin Tan/E+ via Getty Images

    An ounce of prevention = a pound of cure

    Controlled fear experiences can also be a way for you to prepare for the worst. Think of the early days of the COVID-19 pandemic, when the films “Contagion” and “Outbreaktrended on streaming platforms as people around the world sheltered at home. By watching threat scenarios play out in controlled ways through media, you can learn about your fears and emotionally prepare for future threats.

    For example, researchers at Aarhus University’s Recreational Fear Lab in Denmark demonstrated in one study that people who regularly consumed horror media were more psychologically resilient during the COVID-19 pandemic than nonhorror fans. The scientists suggest that this resilience might be a result of a kind of training these fans went through – they practiced coping with the fear and anxiety provoked by their preferred form of entertainment. As a result, they were better prepared to manage the real fear triggered by the pandemic.

    When I’m not teaching, I’m an avid reader of crime fiction. I also write psychological thrillers under the pen name Sarah K. Stephens. As both a reader and writer, I notice similar themes in the books I am drawn to, all of which tie into my own deep-rooted fears: mothers who fail their children somehow, women manipulated into subservience, lots of misogynist antagonists.

    I enjoy writing and reading about my fears – and seeing the bad guys get their just desserts in the end – because it offers a way for me to control the story. Consuming these narratives lets me mentally rehearse how I would handle these kinds of circumstances if any were to manifest in my real life.

    Survive and thrive

    In the case of controlled fear experiences, scaring yourself is a pivotal technique to help you survive and adapt in a frightening world. By eliciting powerful, positive emotions, strengthening social networks and preparing you for your worst fears, you’re better able to embrace each day to its fullest.

    So the next time you’re choosing between an upbeat comedy and a creepy thriller for your movie night, pick the dark side – it’s good for your health.

    Sarah Kollat does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Some people love to scare themselves in an already scary world − here’s the psychology of why – https://theconversation.com/some-people-love-to-scare-themselves-in-an-already-scary-world-heres-the-psychology-of-why-240292

    MIL OSI – Global Reports

  • MIL-OSI Global: Robot developers keep making it seem like housebots are imminent when they’re decades away

    Source: The Conversation – UK – By Carl Strathearn, Research Fellow, Computing, Edinburgh Napier University

    Threepio schmeepio. Tesla

    The walking, talking, dancing Optimus robots at the recent Tesla demonstration generated huge excitement. But this turned to disappointment as it became apparent that much of what was happening was actually being controlled remotely by humans.

    As much as this might still be a fascinating glimpse of the future, it’s not the first time that robots have turned out to be a little too good to be true.

    Take Sophia, for instance, the robot created by Texas-based Hanson Robotics back in 2016. She was presented by the company as essentially an intelligent being, prompting numerous tech specialists to call this out as well beyond our capabilities at the time.

    Similarly we’ve seen carefully choreographed videos of pre-scripted action sequences like Boston Dynamics’ Atlas gymnastics, the English-made Ameca robot “waking up”, and most recently Tesla’s Optimus in the factory. Obviously these are still impressive in different ways, but they’re nowhere near the complete sentient package. Let Optimus or Atlas loose in a random home and you’d see something very different.

    A humanoid robot capable of working in our homes needs to be capable of doing many different tasks, using our tools, navigating our environments and communicating with us like a human. If you thought this was just a year or two away, you’re going to be disappointed.

    Building robots able to interact and carry out complex tasks in our homes and streets is still a huge challenge. Designing them even to do one specific task well, such as opening a door, is phenomenally difficult.

    There are so many door handles with different shapes, weights and materials, not to mention the complexity of dealing with unforeseen circumstances such as a locked door or objects blocking the way. Developers have actually now created a door-opening robot, but robots that can deal with hundreds of everyday tasks are still some way off.

    Behind the curtain

    The Tesla demonstration’s “Wizard of Oz” remote operation technique is a commonly used control method in this field, giving researchers a benchmark against which to test their real advances. Known as telemetric control, this has been around for some time, and is becoming more advanced.

    One of the authors of this article, Carl Strathearn, was at a conference in Japan earlier this year, where a keynote speaker from one of the top robotics labs demonstrated an advanced telemetrics system. It allowed a single human to simultaneously operate many humanoid robots semi-autonomously, using pre-scripted movements, conversation prompts and computerised speech.

    Clearly, this is very useful technology. Telemetric systems are used to control robots working in dangerous environments, disability healthcare and even in outer space. But the reason why a human is still at the helm is because even the most advanced humanoid robots, such as Atlas, are not yet reliable enough to operate completely independently in the real world.

    Another major problem is what we can call social AI. Leading generative AI programs such as DeepMind’s Gemini and OpenAI’s GPT-4 Vision may be a foundation for creative autonomous AI systems for humanoid robots in the future. But we should not be misled into believing that such models mean that a robot is now capable of functioning well in the real world.

    Interpreting information and problem solving like a human requires much more than just recognising words, classifying objects and generating speech. It requires a deeper contextual understanding of people, objects and environments – in other words, common sense.

    To explore what is currently possible, we recently completed a research project called Common Sense Enhanced Language and Vision (CiViL). We equipped a robot called Euclid with commonsense knowledge as part of a generative AI vision and language system to assist people in preparing recipes. To do this, we had to create commonsense knowledge databases using real-world problem-solving examples enacted by students.

    Euclid could explain complicated steps in recipes, give suggestions when things went wrong, and even point people to locations in the kitchen where utensils and tools might typically be found. Yet there were still issues, such as what to do if someone has a bad allergic reaction while cooking. The problem is that it’s almost impossible to handle every possible scenario, yet that’s what true common sense entails.

    This fundamental aspect of AI has got somewhat lost in humanoid robots over the years. Generated speech, realistic facial expressions, telemetric controls, even the ability to play games such as “rock paper scissors” are all impressive. But the novelty soon wears off if the robots are not actually capable of doing anything useful on their own.

    This isn’t to say that significant progress isn’t being made toward autonomous humanoid robots. There’s impressive work going on into robotic nervous systems to give robots more senses for learning, for instance. It’s just not usually given the same amount of press attention as the big unveilings.

    The data deficit

    Another key challenge is the lack of real-world data to train AI systems, since online data doesn’t always accurately represent the real-world conditions necessary for training our robots well enough. We have yet to find an effective way of collecting this real-world data in large enough quantities to get good results. However, this may change soon if we can access it from technologies such as Alexa and Meta Ray-Bans.

    Nonetheless, the reality is that we’re still perhaps decades away from developing multimodal humanoid robots with advanced social AI that are capable of helping around the house. Maybe in the meantime we’ll be offered robots controlled remotely from a command centre. Will we want them, though?

    In the meantime, it’s also more important that we focus our efforts on creating robots for roles that can support people who urgently need help now. Examples would include healthcare, where there are long waiting lists and understaffed hospitals; and education, to offer a way for overanxious or severely ill children to participate in classrooms remotely. We also need better transparency, legislation and publicly available testing, so that everyone can tell fact from fiction and help build public trust for when the robots eventually do arrive.

    Dimitra Gkatzia receives funding from EPSRC.

    Carl Strathearn does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Robot developers keep making it seem like housebots are imminent when they’re decades away – https://theconversation.com/robot-developers-keep-making-it-seem-like-housebots-are-imminent-when-theyre-decades-away-241638

    MIL OSI – Global Reports

  • MIL-OSI Global: Vaccinating care home residents reduced deaths, but the effect was small – new study

    Source: The Conversation – UK – By David Paton, Chair of Industrial Economics, Nottingham University Business School, University of Nottingham

    Vaccinating older people probably did avert some deaths in 2021, but the effects were small. And even those small effects on mortality seem to have dissipated during the booster programme. That’s the conclusion of our new study, published in the European Economic Review.

    COVID-related deaths decreased significantly in most of Europe and the US from the middle of 2021. Although this reduction coincided with the rollout of COVID vaccines, it has proved surprisingly difficult to identify the extent to which vaccination contributed to the drop in deaths.

    Randomised controlled trials (the gold standard for testing new treatments) suggest COVID vaccination can provide significant protection against serious illness and death relative to unvaccinated people who have not previously been infected with COVID. But there are reasons the effect of vaccination on mortality may be lower when viewed outside of trials.

    Early in the programme, there were hopes that vaccination would also prove highly effective in preventing the spread of COVID but it has since become clear that vaccination provides only limited and short-term protection against infection and transmission.

    It is also well established that a previous infection provides protection both against reinfection and against serious illness and death in the event of reinfection that is at least as effective as vaccination. Having a previous infection significantly reduces the likelihood of being vaccinated meaning the vaccinated population will include a relatively high proportion of people without protection from prior infection. So even if vaccination provides protection at an individual level, we may still observe population-level mortality rates that are similar for vaccinated and unvaccinated groups.

    The effectiveness of vaccination programmes may also be limited by people’s behaviour. For example, there is evidence that vaccinated people who get infected are more likely to have mild symptoms and this may cause them to take fewer precautions than others against spreading infection. As a result, vaccination may sometimes be associated with more rather than less transmission.

    Taken together, even if vaccination reduces the risk on an individual basis, it does not necessarily follow that it will reduce deaths at a population level. Existing research reflects this ambiguity with some research finding very significant effects of vaccination on death while other findings conclude there was little or no effect at all.

    Our new study attempts to improve our knowledge about the effect of COVID vaccination programmes by estimating the effect of vaccination take up on deaths in care homes. This is a particularly important group to examine. Given that the vast majority of COVID-related deaths occur in the elderly, any effect on deaths is highly likely to be seen in care homes.

    Machine learning used to analyse the data

    We examined deaths from COVID in care homes across nearly 150 local authorities in England from the start of the vaccine rollout in December 2020 until after the second booster dose in summer 2022. We tested whether higher rates of vaccination of staff and elderly residents led to fewer deaths both in total and from COVID.

    One feature of our research is the use of machine learning (a type of artificial intelligence) to isolate the effect of vaccination from other factors that may also have affected mortality including levels of prior infection as well as demographic, economic and health differences among local authorities.

    Machine learning is particularly adept at separating out the effects of a high number of potential explanatory variables, providing much better evidence of when associations represent true causal relationships. In contrast to some other research, we also use a measure of vaccination that takes account of the fact that effectiveness wanes over time.

    We found that higher vaccination rates of residents (but not of staff) did indeed lead to fewer deaths, but the effect was relatively small. For example, an increase in the resident vaccination take-up rate of 10% in a local authority caused, on average, a reduction of 1% in the total care home mortality rate. That is equivalent to about 22 fewer deaths per week nationwide.

    Of course, any reduction in deaths is welcome. But vaccination does not appear to be the key factor in reducing care home deaths from COVID. We also found that the reduction in deaths was restricted to the initial vaccination rollout.

    From September 2021, when the booster vaccination programme started in England, higher vaccination rates of elderly residents do not seem to have led to any reduction in deaths. Based on these results, vaccination is unlikely to have been responsible for the sustained fall in COVID-related deaths.

    Why then did Europe and the US experience large reductions in COVID deaths since 2021, even during times when infection rates have soared?

    There are two explanations. The first is the growth of variants such as omicron that, although highly infectious, are less deadly than variants responsible for the early waves.

    Second, is the rise in the cumulative number of people who gained protection from having had previous infections.

    These explanations are consistent with the experience of places such as Hong Kong, New Zealand and Taiwan. All saw relatively low COVID infections and deaths in 2020, meaning only limited levels of natural immunity had been built up. All then experienced high mortality rates during 2022, well after most people in those places had been vaccinated.

    For example, the seven-day average mortality rate in Hong Kong reached 40 deaths per million in March 2022, a rate far above the highest peak seen in the US during the whole pandemic despite cumulative vaccination rates at that time being similar.

    Even though vaccination probably reduced care home deaths by a small amount in the early rollout period, there is little evidence that the booster programme had any significant effect on COVID-related deaths.

    David Paton is a member of HART (Health Advisory and Recovery Team).

    Sourafel Girma does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Vaccinating care home residents reduced deaths, but the effect was small – new study – https://theconversation.com/vaccinating-care-home-residents-reduced-deaths-but-the-effect-was-small-new-study-241300

    MIL OSI – Global Reports

  • MIL-OSI Global: A brief history of the muses: the Greek goddesses who provided divine inspiration for ancient poets

    Source: The Conversation – UK – By Alison Habens, Head of Creative Writing, University of Portsmouth

    The muses in The Parnassus, a fresco by Raphael (1511). Vatican Museums, CC BY-SA

    In the beginning, there was just one, unnamed, muse. The blind bard Homer (a poet born around around 850BC) invoked her with the words “Sing, daughter of Zeus” in the first lines of his epic poem, the Odyssey.

    Then there were said to be three: Melete (practice), Mneme (memory) and Aoede (song), perhaps embodying the basic creative process of early humanity. Eventually, nine muses were identified, covering every branch of the arts, in the ancient Greek poet Hesiod’s introduction to Theogony, his epic poem about mythical stories and characters (circa 730–700BC). Hesiod, formerly an illiterate shepherd, claimed that he was inspired to write the poem when a beautiful goddess whispered the story in his ear.

    There were muses specifically for comedy, tragedy and even erotica. The oldest was Calliope, mother of the legendary musician Orpheus. Euterpe was the muse of music. Urania guided the scientists. Terpsichore taught dance.

    The muses promised fame and fortune to artists who followed them, but are rarely mentioned by name in the prologues and prefaces of artworks today.

    A timeline of the muses

    Originally characterised as singing and dancing goddesses guarding a sacred spring, evidence for the muses is found in writing by some of the earliest known authors.

    Hesiod and the Muse by Gustave Moreau (1891).
    Musée d’Orsay

    Yet, the muses existed long before reading and writing. It was only later that they were conscripted as the mascots of writers, with some ancient mosaics showing pens and parchment superimposed on their original images. Following their assimilation from the oral tradition into cheerleaders of literacy, the muses are seen waving pens and quills, scrolls and manuscripts in ancient artworks.

    Written storytelling about the muses started in the matriarchal period of prehistory, shifting to patriarchy in approximately 3,000BC, in Ovid’s story of the god Apollo fashioning himself the first laurel wreath. This crown of leaves, which supposedly signified his genius, is seen in the myth of Daphne, who turned into a laurel tree to escape Apollo’s unwanted advances.

    Written by Ovid in Metamorphoses, this picturesque tale may have been a metaphor for the switch from female to male authority. Legend has it that Apollo prevented his muse priestess from brewing, imbibing or smoking laurel leaves, which have a mild narcotic property.

    It wasn’t just fanciful poets in the muse’s congregation – philosophers kept the faith too. In approximately 370BC, Socrates classed “possession” by the muses as a form of divine madness like drunkenness, eroticism or dreaming: “He who, having no touch of the muses’ madness in his soul, thinks that he will get into the temple by the help of art – he, I say, and his poetry are not admitted.”

    Clio, Euterpe and Thalia, by Eustache Le Sueur (1652–1655).
    Louvre Museum

    English poet and soldier Robert Graves (1895-1985) agreed, writing in 1948 that his:

    ‘Inspiration’ was the breathing-in by the poet of fumes from an intoxicating cauldron, the Awen of the cauldron of Cerridwen, containing probably a mash of barley, acorns, honey, bull’s blood and such sacred herbs as ivy, hellebore and laurel as at Delphi.

    Changing times

    These original practices of using drink or drugs to inspire art are still in use around the world today. The muses may hold a pen in one hand and a smoke, or steaming mug, in the other – herbal remedies continue to be efficacious for writer’s block.

    In the Elizabethan period, when a poet’s relationship with the muses was perceived as directly proportionate to their success in romance, loving attention was paid to their invocation in rhythm and rhyme. But post-Enlightenment, it was no longer considered right for writers to invoke a supernatural mentor for literary endeavours. Modern men were influenced by reason and rationality, rather than a deity. Then it was more likely that a dead bard or scene from nature was deemed an appropriate source of inspiration.

    The nine muses on a Roman sarcophagus (second century AD).
    Louvre Museum, CC BY-SA

    Though writing remained a ritualistic practice, and its mechanisms sometimes mystical, the desk no longer doubled as an altar at which the author worshipped.

    Yet writers still often claim “the muse is with me” at moments when the words flow magically. Her voice can be heard in the modern Interval with Erato by Scott Cairns (2015), which name checks the ancient overseer of love poetry:

    That’s what I like best about you, Erato sighed in bed, that’s why you’ve become one of my favourites and why you will always be so.

    For the most part, the muses are missed off the agenda by both the microscope-gazers and the navel-gazers, these days. However, Plato did insist in his dialogue Phaedrus (370BC) that most people are eu amousoi (εὖ ἄμουσοι) an ancient Greek expression that means “happily without the muses”.

    Contemporary theories of creativity do not often mention divine inspiration. We no longer like the idea that the best stories are given to a few fated writers by God, that great plots and characters are bestowed on favoured authors by goddesses. But the answer to that common question all writers are asked – “where do you get your ideas from?” – still seems more mystic, less mathematic and as much supernatural as subconscious.



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    Alison Habens does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. A brief history of the muses: the Greek goddesses who provided divine inspiration for ancient poets – https://theconversation.com/a-brief-history-of-the-muses-the-greek-goddesses-who-provided-divine-inspiration-for-ancient-poets-239330

    MIL OSI – Global Reports

  • MIL-OSI China: China formulating action plans on deepening capital market reform: official

    Source: People’s Republic of China – State Council News

    BEIJING, Oct. 18 — China’s top securities regulator is studying and drawing up action plans to further deepen capital market reform, Wu Qing, chairman of the China Securities Regulatory Commission (CSRC), said on Friday.

    The CSRC will deepen the market-oriented, law-based comprehensive reform of capital market investment and financing, Wu told the Annual Conference of Financial Street Forum 2024 that opened on the same day.

    Wu called for efforts in accelerating the implementation of the guidelines on medium and long-term capital entry into the market, while vigorously developing public equity funds.

    Efforts will also be made to improve the mechanism for coordinated development of the primary and secondary markets, and make the scale and pace of market financing more scientific and reasonable, he said.

    Wu noted that works will also be focused on improving the quality of listed companies, guiding and urging listed companies to optimize corporate governance, improve transparency, and increase dividends and buybacks, so as to create long-term returns for investors.

    Commenting on shareholders reducing their holdings, Wu said data showed that, whether in the past year or since late September, listed companies have not experienced cluster holding reduction or large-scale illegal reduction of holdings.

    He however noted that the CSRC will strengthen the whole-chain supervision on issuance and listing, information disclosure, share reduction and delisting targeting the major shareholders to effectively protect the rights of small and medium investors.

    On supporting the development of the new quality productive forces, the CSRC will focus on supporting high-quality innovative enterprises, enhancing the inclusiveness and adaptability of the system, and reforming and optimizing the issuance and listing system, Wu added.

    MIL OSI China News

  • MIL-OSI China: China’s consumer goods trade-ins unleash market potential: official

    Source: People’s Republic of China – State Council News

    TIANJIN, Oct. 18 — China’s consumer goods trade-ins have unleashed new market demands, with over 1.4 million applications for automobile scrapping and renewal subsidies recorded so far, Vice Minister of Commerce Sheng Qiuping said on Friday.

    As of Wednesday, more than 10.8 million consumers across the country had purchased some 15.6 million pieces of household appliance included in China’s consumer goods renewal program, Sheng told the 2024 Haihe International Consumption Forum that opened on the same day in Tianjin, north China.

    Household appliance trade-ins have driven a total sales of 73.36 billion yuan (about 10.3 billion U.S. dollars), according to the vice minister.

    During the first half of this year, consumption alone contributed 60.5 percent to China’s economic growth, driving its GDP growth by 3 percentage points, said Sheng.

    He said the ministry will join hands with other departments to further boost consumption and consolidate the stable and positive momentum of the market.

    In March this year, China unveiled an action plan to implement the equipment and consumer goods renewal program to expand domestic demand and shore up the economy. In July, it further stepped up policy support for the program with an extra fund injection of 300 billion yuan via ultra-long special treasury bonds.

    MIL OSI China News

  • MIL-OSI: Prospect Capital Corporation Provides First Lien Senior Secured Term and Convertible Loans to Support the Acquisition of Druid City Infusion by Inlet Road Capital Management

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 18, 2024 (GLOBE NEWSWIRE) — Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”) has provided first lien senior secured term and convertible loans to support the acquisition of Druid City Infusion, LLC (“Druid City”) by investment funds managed by Inlet Road Capital Management, LLC (“Inlet Road”) in partnership with Druid City’s founders and leadership team.

    Druid City is a leading ownership group within the Vital Care Infusion Services (“Vital Care”) franchise system, with Druid City operating nine territories across the South and Mountain West regions of the United States.  Vital Care is dedicated to providing high-quality, safe, convenient, and cost-effective infusion therapy services for both chronic and acute patients across its extensive national network. With over 160 infusion pharmacy locations in 35 states, Vital Care is a national home infusion platform.

    “Druid City is proud of its growth and the outstanding team we have built over the last 10 years,” said Druid City CEO and co-founder Ryan McFerrin. “Our unwavering commitment to patient care and delivering high level service to our referral partners will be enhanced as we begin this new chapter with Prospect and Inlet Road.”

    “We chose to team up with Prospect because of Prospect’s ability to create a comprehensive financing solution to meet the unique needs of our transaction and the business,” said Brian M. Harrison, Partner at Inlet Road. “Prospect’s collaborative approach and industry expertise make Prospect an ideal group for supporting Druid City’s expanding opportunities within the home infusion sector.”

    “The Prospect team was the right fit for our transaction, providing our founder partners with complementary industry experience and capital to support Druid City’s growth both organically and through the acquisition of new territories and possibly other franchisees,” said Robert L. Jenkins, Partner at Inlet Road.

    “Prospect is pleased to complete this important transaction with Inlet Road,” said Neil Zieses, Vice President at Prospect. “We look forward to continued strong performance at Druid City, a company with a compelling value proposition for delivering pharmacy services, and bedside and clinic-based infusion services.”

    About Prospect Capital Corporation

    Prospect is a business development company lending to and investing in private businesses. Prospect’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.

    Prospect has elected to be treated as a business development company under the Investment Company Act of 1940. We have elected to be treated as a regulated investment company under the Internal Revenue Code of 1986.

    Caution Concerning Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under our control, and that we may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements. Such statements speak only as of the time when made, and we undertake no obligation to update any such statement now or in the future.

    For further information, contact:
    Grier Eliasek, President and Chief Operating Officer
    grier@prospectcap.com
    Telephone (212) 448-0702

    The MIL Network