Category: Canada

  • MIL-OSI: ITS Logistics February Port Rail Ramp Index: Potential Effects of Tariffs and Impact on Trade Lanes Signify Most Pressing Unknown Supply Chain Threat

    Source: GlobeNewswire (MIL-OSI)

    RENO, Nev., Feb. 18, 2025 (GLOBE NEWSWIRE) — ITS Logistics today released the February forecast for the ITS Logistics US Port/Rail Ramp Freight Index. This month the index reveals that operations have returned to normal in all regions following the Lunar New Year peak and light inventory front loading to avoid anticipated bottlenecks. In addition, the most significant current unknowns for the industry are the potential effects of tariffs and their impact on trade lanes. 

    “Though changing booking patterns and front loading inventory can help with savings in the short-term, these strategies usually lead to additional cost and material flow problems,” said Paul Brashier, Vice President of Global Supply Chain for ITS Logistics. “The consensus from most experienced shippers is to not be reactionary, as this issue will continue to be very fluid, and the timing and duration of disruptions is unknown.” 

    In an effort to promote fairer trade and enhance the appeal of U.S. goods, President Trump has called for agencies to explore reciprocal tariffs aimed at increasing America’s revenue. This move, however, risks sparking a global trade war, potentially worsening inflation.

    Last week, the President signed a memorandum proposing a 25% tariff on non-energy imports from Canada and a 10% tariff on imports of Canadian energy—primarily crude oil. He also signed proclamations to help bolster tariffs on all steel and aluminum imports into the U.S. to help minimize attempts by China and Russia to evade penalties. To encourage this change, an incremental 10% tariff on imports from China was established, along with an executive order to place a 25% tariff on imports from Mexico, which has been postponed until March. 

    While the tariffs have not yet been imposed, the signing of the memo allows the current presidential administration to begin a review process to initiate them. As the industry awaits further action from the administration, ocean carrier RFP season is approaching, and professionals should begin seeing volumes shift back to the East and Gulf Coast ports as Red Sea diversions and labor disruptions are not expected to be a concern in 2025.

    “We suggest companies consider moving bookings to the East and Gulf Coast ports now that the labor issues have been resolved,” continued Brashier. “Earlier in the month, the wage scale committee for the International Longshoremen’s Association (ILA) approved a tentative six-year agreement with the United States Maritime Alliance from early January. Members are now expected to vote on their new master contract regarding the East and Gulf Coast ports on February 25.”

    ITS Logistics offers a full suite of network transportation solutions across North America and distribution and fulfillment services to 95% of the U.S. population within two days. These services include drayage and intermodal in 22 coastal ports and 30 rail ramps, a full suite of asset and asset-lite transportation solutions, omnichannel distribution and fulfillment, LTL, and outbound small parcel.

    The ITS Logistics US Port/Rail Ramp Freight Index forecasts port container and dray operations for the Pacific, Atlantic, and Gulf regions. Ocean and domestic container rail ramp operations are also highlighted in the index for both the West Inland and East Inland regions. Visit here for a full comprehensive copy of the index with expected forecasts for the US port and rail ramps.

    About ITS Logistics
    ITS Logistics is one of North America’s fastest-growing, asset-based modern 3PLs, providing solutions for the industry’s most complicated supply chain challenges. With a people-first culture committed to excellence, the company relentlessly strives to deliver unmatched value through best-in-class service, expertise, and innovation. The ITS Logistics portfolio features North America’s #19 asset-lite freight brokerage, the #12 drayage and intermodal solution, a top 50 dedicated fleet, an innovative cloud-based technology ecosystem, and a nationwide distribution and fulfillment network.

    Media Contact
    Amber Good
    LeadCoverage
    amber@leadcoverage.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/128e7687-6bfd-4f21-af3a-442b9cc93409

    The MIL Network

  • MIL-OSI Security: Cochrane — Cochrane RCMP arrest and charge two prolific offenders

    Source: Royal Canadian Mounted Police

    During Dec. of 2024, the Cochrane RCMP Crime Reduction Unit with assistance from the Southern Alberta General Investigation Section, monitored the release of two prolific offenders. Within just a few days after release, both offenders committed an Armed Robbery and stole a motor vehicle. RCMP soon located one offender in a stolen vehicle on Stoney Nakoda who then dangerously fled from Police. Police tracked the offender to a residence in Calgary and with assistance from Calgary Police Service, the offender was successfully arrested without incident.

    Later in the same month, Canmore RCMP responded to a break and enter where the second offender fled from police in a stolen vehicle. The police later located the offender on foot but he fled. The offender deployed bear spray at the officer but with assistance from the RCMP Police Dog Services, the offender was quickly apprehended. The officer was not injured.

    As a result of the investigation, the RCMP recovered a stolen shotgun and four stolen vehicles. The two offenders were charged with a combined total of 27 Criminal Code offences.

    A 26-year-old individual, a resident of Stoney Nakoda First Nation, was charged with:

    • Robbery with a Firearm;
    • Flight from Police;
    • Dangerous Operation of a Motor Vehicle;
    • Theft of a Motor Vehicle;
    • Possession of Property Obtained by Crime over $5000;
    • Three counts of Uttering Threats; and
    • Five Counts of Failing to Comply with a Probation Order.

    A 28-year-old individual, a resident of Stoney Nakoda First Nation, was charged with:

    • Robbery with a Firearm;
    • Pointing a Firearm;
    • Flight from Police;
    • Assault with a Weapon;
    • Assault on a Police Officer;
    • Possession of Property Obtained by Crime over $5000;
    • Theft of a Motor Vehicle;
    • Three counts of Uttering Threats
    • Two counts of Unauthorized Possession of a Firearm; and
    • Two counts of Possession of a Firearm Contrary to an Order.

    Inspector Dave Brunner of the Cochrane RCMP said “We not only patrol the streets, but also patrol the patterns. We are here to identify, monitor, arrest and break the cycle of prolific offenders.” Both offenders have been remanded into custody and await court appearances.

    If you have any information regarding a crime, please contact Cochrane RCMP at 403-851-8000 or your area of jurisdiction. If you wish to remain anonymous, you can contact Crime Stoppers at 1-800-222-8477 (TIPS), online at www.P3Tips.com or by using the “P3 Tips” app available through the Apple App or Google Play Store. To report crime online, or for access to RCMP news and information, download the Alberta RCMP app through Apple or Google Play.

    MIL Security OSI

  • MIL-OSI Security: Airdrie — Airdrie RCMP successful in crime reduction operation

    Source: Royal Canadian Mounted Police

    Between the dates of Oct. 1, 2024 and Oct. 11, 2024, the Airdrie RCMP Crime Reduction Unit, with the assistance of the Airdrie General Investigations Section and Special Investigations Units, conducted an enhanced crime reduction operation. Strategies included targeting high crime hot spots, as well as individuals remaining on outstanding arrest warrants in the city of Airdrie and Rocky View County.

    As a result of this proactive operation, the following actions were completed:

    • 30 warrants were executed
    • 39 criminal code charges laid
    • 6 firearms and 1 military ordinance were seized
    • 2 stolen vehicles were recovered
    • 4 oz of a controlled substance, Cocaine, was seized

    MIL Security OSI

  • MIL-OSI Security: Elk Point — Alberta RCMP arrest repeat offender in possession of stolen vehicle and firearms

    Source: Royal Canadian Mounted Police

    On Jan. 8, 2025, units from the Alberta RCMP were attempting to locate a suspect wanted for a series of serious charges out of Cold Lake, Alta. when they located him at a rural residence near Elk Point, Alta. Prior to RCMP intervention, the suspect and two other individuals were observed departing in a motor vehicle. Several units, including the Alberta RCMP Emergency Response Team, monitored the suspect unit his vehicle was safely disabled.

    Checks on the vehicle the suspect was operating revealed that it was stolen. A search of the vehicle revealed several firearms recently stolen out of Vermillion, Alta. Additionally, a second stolen vehicle and two stolen trailers were located at the property that the suspect was observed leaving.

    RCMP have charged a 41-year-old individual, a resident of Cold Lake, with:

    • Flight from police;
    • Possession of firearm in motor vehicle (x6);
    • Unauthorized possession of a firearm;
    • Possession of property obtained by crime over $5000.

    The 41-year-old individual was taken before a justice of the peace and remanded into custody with his next court date set for Jan. 21, 2025, at the Alberta Court of Justice in Bonnyville, Alta.

    RCMP have charged a 33-year-old individual, a resident of MD of Bonnyville, with:

    • Possession of firearm in motor vehicle (x6);
    • Unauthorized possession of a firearm;
    • Possession of property obtained by crime over $5000;
    • Fail to comply with release conditions (x4);
    • Possession of a firearm contrary to order (x3).

    The 33-year-old individual was taken before a justice of the peace and remanded into custody with his next court date set for Jan. 13, 2025, at the Albert Court of Justice in Lac la Biche, Alta.

    A youth was also charged with multiple offences and released for a future court date.

    “This complex investigation saw the close coordination of multiple RCMP Units in Eastern Alberta including Bonnyville, Elk Point, Cold Lake, and our District GIS and Crime Reduction Teams. “says Sarah Parke Detachment Commander Bonnyville RCMP,” Ultimately with the close coordination of these Units our Emergency Response Team was able to safety disable the vehicle driven by this potentially dangerous suspect minimizing his risk to the public.”

    MIL Security OSI

  • MIL-OSI Security: Calgary — Alberta RCMP and provincial partners track down top offenders

    Source: Royal Canadian Mounted Police

    As part of a new RCMP-led data sharing initiative, Alberta RCMP, Calgary Police Service, and Alberta Sheriffs worked together in a Joint Forces Operation (JFO), targeting the top priority offenders in the province, through a warrant roundup.

    The decisions to implement the initiative came following the recognition by Alberta RCMP that all law enforcement agencies in Alberta were ranking priority offenders in different ways. Understanding that criminals operate in various jurisdictions, it was determined that a province wide-model to identify and prioritize offenders was required.

    Through the Alberta Association of Chiefs of Police, all police forces in Alberta have entered into an information sharing agreement that will allow for intelligence and statistical data to be routinely shared. This sharing enables police agencies in Alberta to have a true understanding of the priority offenders that are causing the most harm, not only within individual policing jurisdictions, but across the province. This shared data allows police agencies to properly prioritize and take enforcement action on the most harmful offenders, ensuring the safety of all Albertans.

    Alberta RCMP ranks the tens of thousands of unique offenders in Alberta based on the harm they cause in individual communities. To determine the harm caused by these individuals, the Alberta RCMP Strategic Analysis and Research Unit developed a matrix to determine which offenders were causing the most harm in Alberta. This determination is done using the uniform Crime Severity Index scoring that is typically applied to communities by Statistics Canada and applying it to individual’s offenders.

    Alberta RCMP, with the assistance of Calgary Police Service Business Analytics, Intelligence & Reporting Section, and policing partners across the province, are now able to collect, translate, and disseminate the offender data of all police agencies in the province to form a clear province-wide priority offender list.

    From Nov. 17 to Nov. 30, 2024, the Joint Forces warrant apprehension team hit the streets of Calgary and Southern Alberta, which resulted in the following:

    • 88 arrests
    • 177 warrants executed; 44 for Provincial offences and 133 For Criminal Code offences, representing a total of 306 charges.

    RCMP Province wide executed 1005 warrants associated to 948 different offenders. The individuals arrested during the JFO had warrants from all types of crime, ranging from repeat petty thefts, to arsons, drug trafficking, robbery, and sexual offenses.

    To highlight some of the offenders who were arrested:

    • A 55-year-old male resident of Calgary, who had four warrants for his arrest with over 42 charges associated mostly related to property crime, was arrested. In the previous 18 months he has been linked to a number of offences such as robbery, drug possession and theft of motor vehicle.
    • A 42-year-old male resident of Airdrie, who had seven warrants for his arrest with a total of 27 charges for property crime and fail to comply with court ordered conditions, was arrested. In the previous 18 months he has been associated to files related to sexual interference, sexual assault, and a variety of property crime and drug trafficking offences.
    • A 34-year-old male resident of Calgary, who had five warrants for his arrest with a total of 32 charges for failing to comply with court orders, was arrested. He has a history of being involved in trafficking drugs, assault with a weapon, as well as a variety of property crime offences.
    • A 28-year-old female resident of Cold Lake had one warrant for her arrest for driving offences. She has had 50 interactions with police in the past 18 months, including for robbery, assault with a weapon, drug trafficking and firearms possession investigations.

    “Law Enforcement needs to work together to ensure that jurisdictional borders do not impede our ability to catch the criminals causing the most harm across Alberta,” said Supt. Mike McCauley of the Alberta RCMP. “A small percentage of criminals cause a significant amount of harm across the province, and by using data to drive our work like we do in operations like these, the impact is incredible. “

    “Thanks to strong interagency collaboration and information sharing, there are now fewer dangerous offenders on Alberta’s streets and in our communities,” said Supt. Mike Letourneau of the Alberta Sheriffs. “The Alberta Sheriffs are proud to work alongside our law enforcement partners as we pursue our shared objective of keeping Albertans safe.”

    “We are committed to working collaboratively with our law enforcement partners across the province to keep Calgarians safe,” says Superintendent Jeff Bell of the CPS Criminal Operations & Intelligence Division. “Apprehending offenders that have committed crimes across our province is a critical step in maintaining public safety and preventing further victimization. We are proud to have been a partner in this important initiative.”

    MIL Security OSI

  • MIL-OSI Global: How to be happy with what you have – and avoid the trap of comparison

    Source: The Conversation – UK – By Joshua Forstenzer, Senior Lecturer in Philosophy and Co-Director of the Centre for Engaged Philosophy, University of Sheffield

    Alphavector/Shutterstock

    In many ways, I feel like we shouldn’t be happy with what we have. We live in a world of tremendous inequality and cruelty, running towards an environmental wall. Not just that, but some of the best people I know are chronic persistors: they know how not to accept the unacceptable.

    But we also live in an economy that profits from and purposefully generates private feelings of lack, want, comparison and envy. Somewhat counter-intuitively, this envy often spurs on the feelings of lack and want, rather than the other way around. This is the genius of advertising: to generate “perceived” (aka fake) needs. I see someone living a “good” life – exciting, sexy, creative – and now I want what they have: the shoes, watch, holiday, you name it.

    Envy requires comparison. And comparison requires a scale by which to rank ourselves. Popular culture offers quite a few. Being the object of sexual desire (think of “matches” on dating apps) for example, or digital social connectivity (think of “followers” or “likes”). These can all play a role in shaping your sense of personal success or failure.


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    Sometimes, these are presented in a unified pseudo-metric of success. Take for example the idea of a “high-value man”. The parts of the internet that use the concept tend to celebrate having money, a wide social network and being useful to others. This often veers into celebrating material wealth and superficial self improvement as the path to success and sexual attractiveness. The viral TikTok song I’m Looking for a Man in Finance is an only mildly exaggerated spoof of this ideal.

    The implicit assumption is that having more “good things” than others means being more valuable as a person. But behind this there are a host of hidden assumptions – not least that you can “own” the genuinely valuable things in life (as opposed to being them).

    These hidden assumptions usually reveal deep seated shame – the feeling that you are not enough as you are. And that you are not entitled to set the parameters that define the success or failure of your own life.

    Feeling bad about yourself is not always unhealthy. A healthy negative feeling lets you know if you have done something wrong, or acted in a manner that does not meet your own moral standards. This feeling calls for you to change your ways.

    Shame can be very psychologically painful.
    Alphavector/Shutterstock

    The unhealthy feeling, that I am calling “shame”, is not merely the feeling of embarrassment or moral doubt. Rather, it is (to follow vulnerability researcher Brené Brown’s definition) “the intensely painful feeling or experience of believing that we are flawed and therefore unworthy of love and belonging”.

    This feeling is so psychologically painful that you may reflexively do all you can to remain unaware of it. This denial means that you can start to see your own critical inner voice (itself shaped by past negative experiences) as animated by an “objective” social reality, telling you not just that you’re failing, but that you are a failure. This is often called “projection”.

    Other times, when you can bear to consciously feel this emotion, you may seek to negotiate with it and offer remedial actions to the universe to make up for recurrent feelings of worthlessness. In darker times still, shame can overtake your whole life, paralysing you and creeping into the quietest parts of your private self.

    How to combat shame and be happy with what you have

    Shame can be a remarkably sticky emotion. Identifying and interrogating it can be helpful. Working on revising how you understand your self and your relationship to others can also help. The options are many, but for the sake of illustration here are three that speak to me.

    1. Stoicism

    Stoics believed that your essential nature is stable and the project of life is to fulfil this nature and flourish. When making judgments, people ascribe value to an imagined state of affairs (“it would be really great if I were thinner”) and a belief that a specific course of action will make it a reality (“going without chocolate will return the figure I had in my teens”).

    A stoic approach means connecting with your community.
    Alphavector/Shutterstock

    Both of these can be false, because the things you desire can actually be bad for you, and you have less control over the future than you tend to think. Stoics thought people should try to get the relationship between their emotional state and the goods they pursue into harmony, seeking self-mastery in order to flourish.

    To this end, stoic ethics demand that you recognise and cultivate habits that put you in touch with your own nature within the wider world – starting from the self, expanding to the family, the community, the state, humanity and ultimately the cosmos.

    2. Existentialism

    In contrast, existentialism requires paying attention to the lack of any ultimate purpose in human life. No one thing can ever fully define who you are. Your capacity to reinvent yourself, to value something new, to start a fresh project, is yours alone.

    Existentialists define life’s meaning for themselves.
    Alphavector/Shutterstock

    The empty feeling of meaninglessness you sometimes encounter when you have finally achieved a long sought after goal (like getting that big promotion) can be dizzying. But this feeling is a reminder of the fact that nothing in your nature demands that you achieve any one thing. It’s up to you.

    You must face authentically the fact that you are free and therefore responsible for your projects and the meaning you give to them.

    3. Humanistic psychotherapy

    A humanistic psychotherapeutic perspective offers a middle way. It invites you to look upon yourself with compassion, seeing yourself as complex, responsible and yet also imperfect and vulnerable, always involved in a richly evolving tapestry of relationships that ultimately gives meaning and purpose to your life.

    In humanistic psychotherapy, our relationships give life meaning.
    Alphavector/Shutterstock

    This means that relationships and the recognition you give and derive from them provide the only solid basis for confronting that most important question – “who am I?” – ultimately seeing you through your darkest times. But this means that you need these relationships to be genuine, kind and honest so that you can see yourself and others for the frail, evolving and unique individuals that we all are.

    Joshua Forstenzer’s work receives funding from the Yale Center for Faith and Culture as part of its Templeton-funded Life Worth Living project (https://lifeworthliving.yale.edu/). He is also a consultant to North Consulting as part of the LIFE Erasmus+ project (https://www.kmop.gr/projects-vf/news-life-worth-living/) which uses text-based pedagogic methods to facilitate wellbeing conversations about meaning and purpose with teachers and school leaders in five European countries.

    ref. How to be happy with what you have – and avoid the trap of comparison – https://theconversation.com/how-to-be-happy-with-what-you-have-and-avoid-the-trap-of-comparison-235476

    MIL OSI – Global Reports

  • MIL-OSI Security: Millbrook — Millbrook RCMP charge man after stabbing

    Source: Royal Canadian Mounted Police

    Millbrook RCMP has charged a man with Attempt to Commit Murder and Assault with a Weapon after a stabbing in Millbrook.

    On February 16 at approximately 1:45 am, RCMP and EHS responded to a 911 call from a residence on Birch Bark Rd. Responding officers located a 31-year-old man with multiple injuries inside the home, and learned that he had been stabbed by another man, who was known to him. The injured man was transported to hospital.

    Officers safely arrested the suspect who was located in another room in the home.

    A search warrant was executed at this residence to locate and seize further evidence. RCMP Forensic Identification Section is supporting the ongoing investigation.

    Brenton Joseph Arsenault, 29, of Brookfield, has been charged with:

    • Attempt to Commit Murder
    • Assault with a Weapon

    Arsenault was held in custody and will have a first court appearance at Truro Provincial Court on February 18, 2025.

    MIL Security OSI

  • MIL-OSI: Franklin Electric Reports Fourth Quarter 2024 and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    Fourth Quarter 2024 Highlights

    • Consolidated net sales of $485.7 million, an increase of 3% to the prior year
    • Energy Systems and Distribution net sales increased 5% and 6%, respectively, while Water Systems net sales were flat
    • Operating income was $43.0 million with operating margin of 8.9%
    • GAAP fully diluted earnings per share (EPS) was $0.72

    Full Year 2024 Highlights

    • Consolidated net sales of $2.0 billion, a decrease of 2% to the prior year
    • Distribution net sales increased 2%, while Water Systems and Energy Systems net sales decreased 2% and 8%, respectively
    • Operating income was $243.6 million with operating margin of 12.1%
    • GAAP fully diluted earnings per share (EPS) was $3.86
    • Cash flows from operating activities were $261.4 million

    FORT WAYNE, Ind., Feb. 18, 2025 (GLOBE NEWSWIRE) — Franklin Electric Co., Inc. today announced its fourth quarter and full year financial results for fiscal year 2024.

    Fourth quarter 2024 net sales were $485.7 million, compared to fourth quarter 2023 net sales of $473.0 million. Fourth quarter 2024 operating income was $43.0 million, compared to fourth quarter 2023 operating income of $50.8 million. Fourth quarter 2024 EPS was $0.72, versus EPS in the fourth quarter 2023 of $0.82.

    Full year 2024 net sales were $2.0 billion, compared to full year 2023 net sales of $2.1 billion. Full year 2024 operating income was $243.6 million, compared to full year 2023 operating income of $262.4 million. Full year 2024 EPS was $3.86, versus EPS in the full year 2023 of $4.11.

    “The fourth quarter marked a solid finish to a challenging year. Our results were driven by strong performance in our newly renamed Energy Systems segment. While we have worked through the elevated post-COVID backlogs at this time, underlying demand remains healthy, and we continue to execute on productivity initiatives as we align our businesses with the more normalized environment,” commented Joe Ruzynski, Franklin Electric’s CEO.

    “Our resiliency is supported by the breadth of our global portfolio, which has proven to be a strategic asset as we closed out a year shaped by macroeconomic pressures. Order trends have improved, and with the support of a very healthy balance sheet, we are well-positioned to capitalize on opportunities in the year ahead. In 2025, our focus turns to driving revenue growth and margin expansion as we accelerate innovation and growth,” concluded Mr. Ruzynski.

    Segment Summaries

    Water Systems net sales were $279.6 million in the fourth quarter, flat compared to the fourth quarter 2023. Results were driven by higher sales of groundwater products, water treatment products and all other surface products. These sales increases were offset by lower sales of large dewatering pumps, which had a record fourth quarter last year. Water Systems operating income in the fourth quarter 2024 was $35.6 million. Fourth quarter 2023 Water Systems operating income was $44.1 million.

    Distribution net sales were $157.2 million, an increase of $9.2 million or 6 percent compared to the fourth quarter 2023. Sales increases were driven by higher volumes and the incremental impact from a recent acquisition. The Distribution segment operating income in the fourth quarter 2024 was $0.5 million. Fourth quarter 2023 Distribution operating income was $1.0 million.

    Energy Systems net sales were $68.8 million in the fourth quarter 2024, an increase of $3.1 million or 5 percent compared to the fourth quarter 2023. Sales increases were driven by higher volumes and price realization. Energy Systems operating income in the fourth quarter 2024 was a record for any fourth quarter at $24.7 million. Fourth quarter 2023 Energy Systems operating income was $19.4 million. The Company has changed the name of the Fueling Systems segment to Energy Systems to reflect its diverse portfolio and growth strategy, as well as to better reflect the markets and customers served by the segment.

    Cash Flow

    The Company ended 2024 with a cash balance of $220.5 million, an increase of $135.5 million compared to the end of 2023. Net cash flows from operating activities for 2024 were $261.4 million versus $315.7 million in the same period in 2023. Cash flow in 2023 benefitted from actions the Company took to improve working capital including inventory reductions as its supply chain resiliency and lead times improved during the year.

    2024 Guidance

    The Company expects its full year 2025 sales including the impact of its recently announced acquisitions to be in the range of $2.09 billion to $2.15 billion and full year 2025 EPS to be in the range of $4.05 to $4.25.

    Earnings Conference Call

    A conference call to review earnings and other developments in the business will commence at 9:00 am ET. The fourth quarter 2024 earnings call will be available via a live webcast. The webcast will be available in a listen only mode by going to:

    https://edge.media-server.com/mmc/p/9jnstij5

    For those interested in participating in the question-and-answer portion of the call, please register for the call at the link below.

    https://register.vevent.com/register/BI4b232e4ceea6435ba8f046e92e18e563

    All registrants will receive dial-in information and a PIN allowing them to access the live call. It is recommended that you join 10 minutes prior to the event start (although you may register and dial in at any time during the call).

    A replay of the conference call will be available from Tuesday, February 18, 2025, through 9:00 am ET on Tuesday, February 25, 2025, by visiting the listen-only webcast link above.

    Forward Looking Statements

    “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including those relating to market conditions or the Company’s financial results, costs, expenses or expense reductions, profit margins, inventory levels, foreign currency translation rates, liquidity expectations, business goals and sales growth, involve risks and uncertainties, including but not limited to, risks and uncertainties with respect to general economic and currency conditions, various conditions specific to the Company’s business and industry, weather conditions, new housing starts, market demand, competitive factors, changes in distribution channels, supply constraints, effect of price increases,  raw material costs, technology factors, integration of acquisitions, litigation, government and regulatory actions, the Company’s accounting policies, future trends, epidemics and pandemics, and other risks which are detailed in the Company’s Securities and Exchange Commission filings, included in Item 1A of Part I of the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2023, Exhibit 99.1 attached thereto and in Item 1A of Part II of the Company’s Quarterly Reports on Form 10-Q. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements.

    About Franklin Electric

    Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and energy. Recognized as a technical leader in its products and services, Franklin Electric serves customers around the world in residential, commercial, agricultural, industrial, municipal, and fueling applications. Franklin Electric is proud to be named in Newsweek’s lists of America’s Most Responsible Companies and Most Trustworthy Companies for 2024 and America’s Climate Leaders 2024 by USA Today.

    Franklin Electric Contact:

    Jeffery L. Taylor
    Franklin Electric Co., Inc.
    InvestorRelations@fele.com

     
    FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited)
                   
    (In thousands, except per share amounts)              
                   
      Fourth Quarter Ended   Fiscal Year End
      December 31,   December 31,   December 31,   December 31,
      2024   2023   2024   2023
                   
    Net sales $ 485,745     $ 472,970     $ 2,021,341     $ 2,065,133  
                   
    Cost of sales   321,505       312,961       1,304,061       1,368,125  
                   
    Gross profit   164,240       160,009       717,280       697,008  
                   
    Selling, general, and administrative expenses   117,846       108,825       470,136       433,476  
                   
    Restructuring expense   3,360       356       3,499       1,091  
                   
    Operating income   43,034       50,828       243,645       262,441  
                   
    Interest expense   (1,339 )     (1,481 )     (6,319 )     (11,790 )
    Other income, net   630       1,831       1,339       3,696  
    Foreign exchange expense, net   (1,590 )     (4,026 )     (6,818 )     (12,124 )
                   
    Income before income taxes   40,735       47,152       231,847       242,223  
                   
    Income tax expense   6,443       8,322       50,238       47,489  
                   
    Net income $ 34,292     $ 38,830     $ 181,609     $ 194,734  
                   
    Less: Net income attributable to noncontrolling interests   (637 )     (281 )     (1,300 )     (1,462 )
                   
    Net income attributable to Franklin Electric Co., Inc. $ 33,655     $ 38,549     $ 180,309     $ 193,272  
                   
    Income per share:              
    Basic $ 0.73     $ 0.83     $ 3.92     $ 4.17  
    Diluted $ 0.72     $ 0.82     $ 3.86     $ 4.11  
                   
    FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (Unaudited)
           
    (In thousands)      
           
      December 31,   December 31,
      2024   2023
    ASSETS      
           
    Cash and cash equivalents $ 220,540     $ 84,963  
    Receivables (net)   226,826       222,418  
    Inventories   483,875       508,696  
    Other current assets   32,950       37,718  
    Total current assets   964,191       853,795  
           
    Property, plant, and equipment, net   223,566       229,739  
    Lease right-of-use Assets, net   62,637       57,014  
    Goodwill and other assets   570,212       587,574  
    Total assets $ 1,820,606     $ 1,728,122  
           
           
    LIABILITIES AND EQUITY      
           
    Accounts payable $ 157,046     $ 152,419  
    Accrued expenses and other current liabilities   139,989       104,949  
    Current lease liability   18,878       17,316  
    Current maturities of long-term debt and short-term borrowings   117,814       12,355  
    Total current liabilities   433,727       287,039  
           
    Long-term debt   11,622       88,056  
    Long-term lease liability   43,304       38,549  
    Income taxes payable non-current         4,837  
    Deferred income taxes   10,193       29,461  
    Employee benefit plans   29,808       35,973  
    Other long-term liabilities   22,118       33,914  
     
    Redeemable noncontrolling interest   1,224       1,145  
           
    Total equity   1,268,610       1,209,148  
    Total liabilities and equity $ 1,820,606     $ 1,728,122  
           
    FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Unaudited)
    (In thousands)      
           
      2024   2023
    Cash flows from operating activities:      
    Net income $ 181,609     $ 194,734  
    Adjustments to reconcile net income to net cash flows from operating activities:      
    Depreciation and amortization   56,073       52,260  
    Non-cash lease expense   21,438       18,852  
    Share-based compensation   12,061       10,133  
    Other   (13,327 )     10,259  
    Changes in assets and liabilities:      
    Receivables   (17,045 )     19,150  
    Inventory   10,889       48,176  
    Accounts payable and accrued expenses   15,285       (23,085 )
    Operating leases   (21,129 )     (18,874 )
    Income taxes-U.S. Tax Cuts and Jobs Act   (3,870 )     (2,902 )
    Other   19,369       7,007  
           
    Net cash flows from operating activities   261,353       315,710  
           
    Cash flows from investing activities:      
    Additions to property, plant, and equipment   (41,682 )     (41,415 )
    Proceeds from sale of property, plant, and equipment   1,182       1,494  
    Acquisitions and investments   (5,201 )     (34,831 )
    Other investing activities   73       463  
           
    Net cash flows from investing activities   (45,628 )     (74,289 )
           
    Cash flows from financing activities:      
    Net change in debt   29,235       (115,529 )
    Proceeds from issuance of common stock   7,204       9,193  
    Purchases of common stock   (61,041 )     (43,332 )
    Dividends paid   (46,876 )     (41,723 )
    Deferred payments for acquisitions   (2,591 )     (802 )
           
    Net cash flows from financing activities   (74,069 )     (192,193 )
           
    Effect of exchange rate changes on cash   (6,079 )     (10,055 )
    Net change in cash and cash equivalents   135,577       39,173  
    Cash and cash equivalents at beginning of period   84,963       45,790  
    Cash and cash equivalents at end of period $ 220,540     $ 84,963  
           

    Key Performance Indicators: Net Sales Summary

      Net Sales For the Fourth Quarter
      United
    States
    Latin Europe,
    Middle
    Asia Total        
    (in millions) & Canada America East & Africa Pacific Water Energy** Distribution Other/Elims Consolidated
                       
    Q4 2023 $161.2   $46.6   $45.5   $26.3   $279.6   $65.7   $148.0   ($20.3 ) $473.0  
    Q4 2024 $158.5   $44.3   $49.7   $27.1   $279.6   $68.8   $157.2   ($19.9 ) $485.7  
    Change ($2.7 ) ($2.3 ) $4.2   $0.8   $0.0   $3.1   $9.2   $0.4   $12.7  
    % Change   -2 %   -5 %   9 %   3 %   0 %   5 %   6 %     3 %
                       
    Foreign currency translation, net* ($0.4 ) ($5.5 ) ($0.8 ) ($0.8 ) ($7.5 ) $0.0   $0.0     ($7.5 )
    % Change   0 %   -12 %   -2 %   -3 %   -3 %   0 %   0 %     2 %
                       
    Acquisitions $3.1   $0.0   $0.0   $0.0   $3.1   $0.0   $4.0     $7.1  
    % Change   2 %   0 %   0 %   0 %   1 %   0 %   3 %     2 %
                       
    Volume/Price ($5.4 ) $3.2   $5.0   $1.6   $4.4   $3.1   $5.2   $0.4   $13.1  
    % Change   -3 %   7 %   11 %   6 %   2 %   5 %   4 %   -2 %   3 %
                       
      Net Sales For the Full Year
      United
    States
    Latin Europe,
    Middle
    Asia Total        
    (in millions) & Canada America East & Africa Pacific Water Energy** Distribution Other/Elims Consolidated
                       
    FY 2023 $744.4   $174.2   $198.3   $86.8   $1,203.7   $296.5   $673.3   ($108.4 ) $2,065.1  
    FY 2024 $708.5   $170.9   $211.4   $93.2   $1,184.0   $273.7   $685.5   ($121.9 ) $2,021.3  
    Change ($35.9 ) ($3.3 ) $13.1   $6.4   ($19.7 ) ($22.8 ) $12.2   ($13.5 ) ($43.8 )
    % Change   -5 %   -2 %   7 %   7 %   -2 %   -8 %   2 %     -2 %
                       
    Foreign currency translation, net* ($0.9 ) ($9.7 ) ($6.3 ) ($2.4 ) ($19.3 ) $0.0   $0.0     ($19.3 )
    % Change   0 %   -6 %   -3 %   -3 %   -2 %   0 %   0 %     -1 %
                       
    Acquisitions $17.6   $0.0   $0.0   $0.0   $17.6   $0.0   $17.1     $34.7  
    % Change   2 %   0 %   0 %   0 %   1 %   0 %   3 %     2 %
                       
    Volume/Price ($52.6 ) $6.4   $19.4   $8.8   ($18.0 ) ($22.8 ) ($4.9 ) ($13.5 ) ($59.2 )
    % Change   -7 %   4 %   10 %   10 %   -1 %   -8 %   -1 %   12 %   -3 %
                       

    *The Company has presented local currency price increases used to offset currency devaluation in the Argentina and Turkey hyperinflationary economies within the foreign currency translation, net row above.
    ** Recognizing the Company’s diverse portfolio and growth strategy, it renamed its Fueling Systems segment to Energy Systems to better reflect the markets and customers served by this business.

    Key Performance Indicators: Operating Income and Margin Summary

    Operating Income and Margins          
    (in millions) For the Fourth Quarter 2024
      Water Energy Distribution Other/Elims Consolidated
    Operating Income / (Loss) $ 35.6   $ 24.7   $ 0.5   $ (17.8 ) $ 43.0  
    % Operating Income To Net Sales   12.7 %   35.9 %   0.3 %     8.9 %
               
    Operating Income and Margins          
    (in millions) For the Fourth Quarter 2023
      Water Energy Distribution Other/Elims Consolidated
    Operating Income / (Loss) $ 44.1   $ 19.4   $ 1.0   $ (13.7 ) $ 50.8  
    % Operating Income To Net Sales   15.8 %   29.5 %   0.7 %     10.7 %
               
    Operating Income and Margins          
    (in millions) For the Full Year of 2024
      Water Energy Distribution Other/Elims Consolidated
    Operating Income / (Loss) $ 197.9   $ 93.6   $ 24.3   $ (72.2 ) $ 243.6  
    % Operating Income To Net Sales   16.7 %   34.2 %   3.5 %     12.1 %
               
    Operating Income and Margins          
    (in millions) For the Full Year of 2023
      Water Energy Distribution Other/Elims Consolidated
    Operating Income / (Loss) $ 196.6   $ 92.7   $ 34.3   $ (61.2 ) $ 262.4  
    % Operating Income To Net Sales   16.3 %   31.3 %   5.1 %     12.7 %
               

    The MIL Network

  • MIL-OSI Global: How to win an election? Focus on persuasion, not policy

    Source: The Conversation – Canada – By Robert Danisch, Professor, Department of Communication Arts, University of Waterloo

    Ontario residents will soon elect a new government, and Canadians should expect a federal election this spring.

    Elections matter. They are opportunities for democracies to enact the bedrock principle that leaders are accountable to the citizenry — and for citizens to examine how communication practices inhibit or enhance democratic life.

    For politicians, elections pose a specific, clear communication challenge: How does a politician persuade a voter?

    Persuade voters

    Success in an election requires persuasion. Too often, though, politicians misunderstand the process of persuasion. The most common mistake is to believe that explaining a specific policy proposal will influence voters.

    Ontario Liberal Leader Bonnie Crombie began her campaign, for example, touting platform doors for Toronto subway stops. This is a sure sign Crombie will fail to persuade a plurality of voters.

    Why? Because Crombie is mistakenly thinking about communication as a process of transmitting information — transmit the right information or policy idea and the public will nod in agreement. That’s not how communication works.

    Science communicators call this the “deficit model” of communication (the public lacks information; once they get it, they change their behaviour).

    Motivate voters; control the narrative

    There’s little evidence that information sharing is persuasive, and popular policy positions routinely fail to persuade voters (a casual look at the last presidential election in the United States demonstrates this). Politicians, of course, want to talk about policy, but policy is how one governs — not how one persuades.

    Politicians need to motivate voters, not inform them. Ancient orators like Demosthenes and Cicero knew this, as did former U.S. president Barack Obama and even authoritarian leaders like Hugo Chavez.

    Explaining policy positions is not how to win an election.

    Crombie’s proposal for platform edge doors reveals a deeper communication problem. A policy like this implies a frame, or a map, through which people are invited to see the world.

    Crombie’s policy proposal suggests that the world is a dangerous place. If we accept that frame, then we are likely to feel fear for our safety and imagine the government as our protector — this is the likely effect of her policy talk.

    This is exactly the frame that conservative politicians often promote. In elections, the party that controls the frame wins.

    The frame implied by any policy matters more than the content of the policy in an election. Another way to understand the power of language is to think of a simple phrase like “tax relief.” For years, left-leaning political parties have advocated for middle class “tax relief.”

    But this frame assumes that taxes are a burdensome infringement (the word “relief” signifies some burden that we need relief from). That is the assumption of right-leaning political parties.

    The more politicians on the left continue to portray taxes this way, the more persuasive the parties on the right become.

    Whose values?

    The important lesson here is that politicians need to have the conversation they want, not the conversation their opponents want. Donald Trump’s most powerful communication skill is forcing the media and his opponents onto his conversational terrain.

    Trump’s oppenent, Kamala Harris, tried to talk values. But her messaging was often too confusing, too complex and too varied to be persuasive, especially compared to Trump’s repetitive drumbeat of value-based accusations.

    Consider the broader frame that government’s job is to help the economy. Some have argued “the economy” is a fiction, a rhetorical construction that suits right-leaning political parties. Whenever the left advocates for a policy that intends to help “the economy” (a higher minimum wage, for example), they recirculate and reaffirm a conservative frame.




    Read more:
    Why Donald Trump’s words work, and what to do about it


    At the core of these frames are often a set of values: freedom is good, government can’t be trusted, the economy matters most. Messaging that focuses on why is much more effective than messaging that focuses on what and how.

    When politicians talk about values more than they provide information, they are more likely to get attention and cause reactions. Values talk — about what’s good or bad, right or wrong — tends to target the more primal, limbic part of our brain, which can cause people to feel motivated to act.

    Crombie, therefore, needs to explicitly articulate her values, why she is running for office, and make sure to implicitly frame any policy suggestion through attention to those values. Right now, she is implying conservative values through liberal policies — that won’t work.

    Stories reinforce the frame

    Values tend to come wrapped in the stories we tell about ourselves and our moment. Marshall Ganz, Harvard sociologist and community organizer, trained Barack Obama’s campaign volunteers in a form of storytelling, based on values, that was intended to motivate people.

    Good stories have villains and heroes, along with challenges or choices. Most importantly, good stories create a feeling of identification — a “we” that navigates a set of challenges or choices.

    Stories that make people feel hope, confidence, solidarity, anger and urgency are particularly adept at motivation. And these stories are also able to reinforce the frame through which we view the world, causing a story to “feel true” for voters even if it contains factual inaccuracies.

    The story that resonates most powerfully creates a sense of identification and makes a specific frame seem true drives electoral outcomes.

    Vision of the future

    The very best stories have a clear vision of the future. Too often politicians fixate on, and lament, problems. All of that problem talk can inhibit motivation. A clear picture of an ideal future shows the citizenry how a story ends.

    These imagined futures can be inspiring in ways that drive action. Painting a compelling tomorrow is a central part of political persuasion.

    These aspects of persuasion have been true for centuries. Our moment, however, adds a complicating element — our social media systems.

    Scholars of rhetoric have long known that repetition is persuasive. Social media amplifies the power of persuasion. This might not improve democratic decision-making, but politicians must still recognize how slogans, memes and sound bites all become the resources for repetition and the grounds in which specific frames or stories begin to dominate conversations.

    Controlling what gets repeated and using figures that are repeatable are necessary contemporary considerations.

    To be clear, if you want to win an election: control the frame, talk about values more than policy, tell a compelling story, paint a bright future, and find ways to repeat, repeat, repeat.

    Robert Danisch 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. How to win an election? Focus on persuasion, not policy – https://theconversation.com/how-to-win-an-election-focus-on-persuasion-not-policy-248733

    MIL OSI – Global Reports

  • MIL-OSI: American Lamprecht Enhances Visibility for Air and Ocean Shipments Using Descartes Solution

    Source: GlobeNewswire (MIL-OSI)

    ATLANTA, Georgia and AMERSFOORT, The Netherlands, Feb. 18, 2025 (GLOBE NEWSWIRE) — Descartes Systems Group (Nasdaq:DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, announced that Illinois-based freight forwarder American Lamprecht is providing its customers with real-time visibility into the location and status of their air and ocean shipments using Descartes’ shipment tracking capabilities, which are integrated with Descartes’ cloud-based forwarder enterprise billing and accounting solution.

    “Today’s customers expect to view the status of their shipments on-demand across all modes of transport,” said Patrick Imhof, CEO at American Lamprecht. “With Descartes’ advanced tracking, we can provide shippers with anytime, anywhere insights into shipment location and status at every stage of the air or ocean journey. This not only enhances customer service standards, but also allows us to reduce the time spent tracking shipments manually. Combined with the efficiency gains from the integration with our Descartes forwarder system, we’re better positioned to drive up overall service levels with more effective operations and higher-value productive time with customers.”

    As part of the Descartes Global Logistics Network™ (Descartes GLN™), one of the world’s most extensive logistics networks, Descartes’ advanced shipment tracking capabilities connect to a wide range of air and ocean carriers to populate Descartes OneView™ Forwarder Enterprise. An on-demand, multimodal forwarder back-office solution, Descartes OneView Forwarder Enterprise is used by thousands of forwarders and customs brokers as the foundation of their accounting, financial reporting and billing operations. Using the combined solution, logistics service providers, such as American Lamprecht, can automate ocean and air freight tracking with real-time visibility, predictive ETAs, intelligent alerts, and consolidated data from a single reliable source, enabling better decision-making and risk management.

    “We’re pleased to help American Lamprecht provide customers with easy access to real-time status information on air and ocean shipments by leveraging additional value offered by the Descartes OneView platform,” said Scott Sangster, General Manager, Logistics Services Providers at Descartes. “Whether for imports or exports, the combined solution helps logistics service providers drive much more efficient digital shipment workflows to better coordinate the movement of freight and boost customer service levels without adding labor.”

    About Descartes

    Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, security and sustainability of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, track and help improve the safety, performance and compliance of delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world’s largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com, and connect with us on LinkedIn and Twitter.

    Global Media Contact
    Cara Strohack
    cstrohack@descartes.com

    Cautionary Statement Regarding Forward-Looking Statements

    This release contains forward-looking information within the meaning of applicable securities laws (“forward-looking statements”) that relate to Descartes’ broker and forwarder enterprise system solution offerings and potential benefits derived therefrom; and other matters. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the factors and assumptions discussed in the section entitled, “Certain Factors That May Affect Future Results” in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada including Descartes’ most recently filed management’s discussion and analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purposes of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

    The MIL Network

  • MIL-OSI: Matador Technologies Provides Updates on Recent Conference Attendance and Upcoming Industry Engagements

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 18, 2025 (GLOBE NEWSWIRE) — Matador Technologies Inc. (“Matador” or the “Company”) (TSXV: MATA) announces its recent participation in key industry events and provides updates on upcoming engagements.

    Max & Stacy’s Bitcoin Golf Invitational – El Salvador

    Matador recently attended Max & Stacy’s Bitcoin Golf Invitational in El Salvador, an industry event focused on Bitcoin and blockchain developments. The conference facilitated discussions with industry participants, investors, and other stakeholders relevant to Matador’s Bitcoin treasury strategy.

    The Inaugural Crypto Ball – Washington, D.C.

    On January 17, Matador attended the inaugural Crypto Ball at the Andrew W. Mellon Auditorium in Washington, D.C. Hosted by BTC Inc. and co-hosted by Stand With Crypto, Exodus, Anchorage Digital, and Kraken. The event convened industry participants, policy stakeholders, and corporate sponsors, providing insights into evolving regulatory and market dynamics.

    AlphaNorth Capital Event – Bahamas

    On January 18-19, Matador participated in the AlphaNorth Capital Event in the Bahamas, hosted by Capital Event Management. The event facilitated meetings with investment professionals and discussions on emerging industry trends.

    Upcoming Industry Engagements

    AlphaNorth Capital Event – Whistler, Canada

    Matador will attend the 15th Annual Whistler Capital Event from February 21–23, 2025, hosted by Capital Event Management. The event will bring together companies and investment professionals for meetings and discussions on market developments.

    The 8th Annual Growth Conference – Toronto, Canada

    Matador will participate in the 8th Annual Growth Conference from March 3–6, 2025, hosted by Centurion One Capital at the Four Seasons Hotel in Toronto. The conference will feature company presentations, panel discussions, and networking sessions with investors and industry professionals.

    PDAC Conference – Toronto

    Matador will also participate in the Prospectors & Developers Association of Canada (PDAC) Conference in March 2025. PDAC is a global industry event focused on mineral exploration and mining, providing an opportunity to discuss the intersection of blockchain technology with traditional asset classes.

    Matador looks forward to leveraging these events to foster relationships with institutional investors, gain insights into emerging market trends, and explore potential partnerships.

    For additional information, please contact:

    Media Contact:
    Sunny Ray
    President
    Email: sunny@matador.network

    Phone: 647-932-2668

    About Matador Technologies Inc.
    Matador Technologies Inc. is a digital gold platform leveraging blockchain technology to digitize real-world assets like gold. Focused on building innovative financial solutions, Matador is at the forefront of integrating blockchain technology to preserve and grow value. Matador’s digital gold platform aims to democratize the gold buying experience, combining the best of modern technology and time-proven assets, to create an app that will allow users to buy, sell, and store gold 24/7 in a fun and engaging way.

    Cautionary Statement Regarding Forward-Looking Information

    NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

    This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

    Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including risks associated with the implementation of the Company’s treasury management strategy and the launch of its mobile application as currently proposed or at all. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including with respect to the potential acquisition of Bitcoin and/or US dollars, the pricing of such acquisitions and the timing of future operations. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

    The MIL Network

  • MIL-OSI: Transocean Ltd. Announces CEO Succession Plan

    Source: GlobeNewswire (MIL-OSI)

    STEINHAUSEN, Switzerland, Feb. 18, 2025 (GLOBE NEWSWIRE) — Transocean Ltd. (NYSE: RIG) today announced its plan for key leadership changes pursuant to the company’s multi-year succession planning strategy. As part of this plan, Keelan Adamson, the company’s President and Chief Operating Officer, will become President and Chief Executive Officer following a transition period, which is expected to conclude during the second quarter of 2025. Mr. Adamson will succeed Jeremy Thigpen, who has led Transocean as Chief Executive Officer since 2015. Mr. Adamson is also expected to be nominated to join the Board of Directors at the company’s 2025 annual general meeting of shareholders.

    Mr. Thigpen will continue serving as Chief Executive Officer until Mr. Adamson’s appointment and will continue his service as a member of the company’s Board of Directors through his current term. Thereafter, subject to shareholder approval at the 2025 annual general meeting, Mr. Thigpen is expected to be appointed as Executive Chair of the Board of Directors, and Mr. Chad Deaton, Transocean’s current Chair of the Board, will transition to Lead Independent Director.

    “Keelan is an experienced executive who has a deep understanding of our business, our customers and our industry,” Mr. Deaton said. “Throughout his three decades with Transocean, where his experience has taken him from the drill floor to the executive level, Keelan has helped to shape the foundation of the company and position Transocean for sustained success as the industry’s market leader. This transition represents the culmination of a key part of our multi-year, rigorous and thoughtful succession plan designed to develop internal talent and maintain business and leadership continuity.  Keelan is well-prepared for this opportunity.” 

    Mr. Deaton continued, “On behalf of the entire Board, I would like to recognize and thank Jeremy for leading Transocean through the most challenging market in the history of offshore drilling. He guided Transocean as we transformed our fleet through opportunistic asset transactions, as well as the acquisition of two major competitors; under his leadership, we placed into service the most technologically advanced rigs in the world, including the first 8th generation, 20K drillships. He oversaw the continuation of Transocean’s legacy for leading the industry in innovation, with the application of new technologies that improve the safety, reliability and efficiency of our operations. Jeremy’s contributions and leadership have been recognized and appreciated by the entire industry, and we look forward to his continued work with Transocean as he transitions into his new role.” 

    Mr. Adamson has served as Transocean’s President and Chief Operating Officer since February 2022. Prior to that time, he served as the company as Executive Vice President and Chief Operations Officer from August 2018 to February 2022, as Senior Vice President, Operations from October 2017 to July 2018, and as Senior Vice President, Operations Integrity and HSE, from June 2015 to October 2017. As part of his responsibilities during this period, Mr. Adamson oversaw the company’s Technical Services team from May 2016 to October 2017. He also served as the company’s Vice President, Human Resources from December 2012 to May 2015, and has held other executive positions with the company, including as the Vice President overseeing Major Capital Projects and Engineering. He joined Transocean in 1995 and has held rig management positions in the United Kingdom, Asia and Africa, sales and marketing leadership roles, and served as the Managing Director for the company’s business in North America, Canada and Trinidad. Mr. Adamson earned a bachelor’s degree in Aeronautical Engineering from The Queens University of Belfast and completed the Advanced Management Program at Harvard Business School.

    “I am honored by and grateful for the opportunity to lead Transocean and its talented and dedicated workforce,” said Mr. Adamson. “With the highest specification fleet in the industry and the unparalleled experience of our offshore crews and shore-based support personnel, we are well-positioned for success. As I work alongside the entire Transocean team as CEO, we will maintain a sharp focus on executing our business strategy – delivering enhanced shareholder value by optimizing operations, safely and efficiently meeting our customers’ objectives and meaningfully reducing our debt. It is an honor to succeed Jeremy, who skillfully guided Transocean through an unprecedented industry downturn and prepared it for the opportunities that we are realizing today.”

    In reflecting on his tenure as Chief Executive Officer, Mr. Thigpen said, “The trust and support the Board and the entire Transocean team provided during my tenure as CEO helped assemble an impressive team that operates the industry’s most technologically advanced assets, while executing on strategies that preserved and enhanced shareholder value. Transocean is a resilient and strong organization, made stronger by leaders like Keelan whom I have had the pleasure of working closely with for the past decade. Keelan is the right person to lead Transocean as we build upon the company’s position as the leader in offshore drilling.”

    About Transocean

    Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. Transocean specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services and operates the highest specification floating offshore drilling fleet in the world.

    Transocean owns or has partial ownership interests in and operates a fleet of 34 mobile offshore drilling units, consisting of 26 ultra-deepwater floaters and eight harsh environment floaters.

    Forward-Looking Statements

    The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements could contain words such as “possible,” “intend,” “will,” “if,” “expect,” or other similar expressions. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are beyond our control, and in many cases, cannot be predicted. As a result, actual results could differ materially from those indicated by these forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, estimated duration of customer contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects and other out-of-service time, sales of drilling units, the cost and timing of mobilizations and reactivations, operating hazards and delays, risks associated with international operations, actions by customers and other third parties, the fluctuation of current and future prices of oil and gas, the global and regional supply and demand for oil and gas, the intention to scrap certain drilling rigs, the effects of the spread of and mitigation efforts by governments, businesses and individuals related to contagious illnesses, and other factors, including those and other risks discussed in the company’s most recent Annual Report on Form 10-K for the year ended December 31, 2023, and in the company’s other filings with the SEC, which are available free of charge on the SEC’s website at: www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement. We expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in our expectations or beliefs with regard to the statement or any change in events, conditions or circumstances on which any forward-looking statement is based, except as required by law. All non-GAAP financial measure reconciliations to the most comparative GAAP measure are displayed in quantitative schedules on the company’s website at: www.deepwater.com

    This press release, or referenced documents, do not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and do not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”) or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of Transocean and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of Transocean.

    Analyst Contact:
    Alison Johnson
    +1 713-232-7214

    Media Contact:
    Pam Easton
    +1 713-232-7647

    The MIL Network

  • MIL-OSI: BlackRock® Canada Announces February Cash Distributions for the iShares® ETFs

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 18, 2025 (GLOBE NEWSWIRE) — BlackRock Asset Management Canada Limited (“BlackRock Canada”), an indirect, wholly-owned subsidiary of BlackRock, Inc. (NYSE: BLK), today announced the February 2025 cash distributions for the iShares ETFs listed on the TSX or Cboe Canada which pay on a monthly basis as well as XIU. Unitholders of record of a fund on February 25, 2025 will receive cash distributions payable in respect of that fund on February 28, 2025.

    Details regarding the “per unit” distribution amounts are as follows:

    Fund Name Fund Ticker Cash Distribution Per Unit
    iShares 1-10 Year Laddered Corporate Bond Index ETF CBH $0.049
    iShares 1-5 Year Laddered Corporate Bond Index ETF CBO $0.051
    iShares S&P/TSX Canadian Dividend Aristocrats Index ETF CDZ $0.112
    iShares Equal Weight Banc & Lifeco ETF CEW $0.059
    iShares 1-5 Year Laddered Government Bond Index ETF CLF $0.032
    iShares 1-10 Year Laddered Government Bond Index ETF CLG $0.037
    iShares S&P/TSX Canadian Preferred Share Index ETF CPD $0.058
    iShares US Dividend Growers Index ETF (CAD-Hedged) CUD $0.079
    iShares Convertible Bond Index ETF CVD $0.072
    iShares Global Monthly Dividend Index ETF (CAD-Hedged) CYH $0.080
    iShares Canadian Financial Monthly Income ETF FIE $0.040
    iShares U.S. Aggregate Bond Index ETF XAGG $0.105
    iShares U.S. Aggregate Bond Index ETF(1) XAGG.U $0.061
    iShares U.S. Aggregate Bond Index ETF (CAD-Hedged) XAGH $0.091
    iShares Core Canadian Universe Bond Index ETF XBB $0.079
    iShares Core Canadian Corporate Bond Index ETF XCB $0.069
    iShares ESG Advanced Canadian Corporate Bond Index ETF XCBG $0.119
    iShares U.S. IG Corporate Bond Index ETF XCBU $0.121
    iShares U.S. IG Corporate Bond Index ETF(1) XCBU.U $0.076
    iShares Core MSCI Global Quality Dividend Index ETF XDG $0.061
    iShares Core MSCI Global Quality Dividend Index ETF(1) XDG.U $0.042
    iShares Core MSCI Global Quality Dividend Index ETF (CAD-Hedged) XDGH $0.060
    iShares Core MSCI Canadian Quality Dividend Index ETF XDIV $0.115
    iShares Core MSCI US Quality Dividend Index ETF XDU $0.064
    iShares Core MSCI US Quality Dividend Index ETF(1) XDU.U $0.044
    iShares Core MSCI US Quality Dividend Index ETF (CAD-Hedged) XDUH $0.059
    iShares Canadian Select Dividend Index ETF XDV $0.114
    iShares J.P. Morgan USD Emerging Markets Bond Index ETF (CAD-Hedged) XEB $0.057
    iShares S&P/TSX Composite High Dividend Index ETF XEI $0.111
    iShares Core Canadian 15+ Year Federal Bond Index ETF XFLB $0.111
    iShares Flexible Monthly Income ETF XFLI $0.193
    iShares Flexible Monthly Income ETF(1) XFLI.U $0.145
    iShares Flexible Monthly Income ETF (CAD-Hedged) XFLX $0.179
    iShares S&P/TSX Capped Financials Index ETF XFN $0.140
    iShares Floating Rate Index ETF XFR $0.066
    iShares Core Canadian Government Bond Index ETF XGB $0.050
    iShares Global Government Bond Index ETF (CAD-Hedged) XGGB $0.040
    iShares Canadian HYBrid Corporate Bond Index ETF XHB $0.074
    iShares U.S. High Dividend Equity Index ETF (CAD-Hedged) XHD $0.083
    iShares U.S. High Dividend Equity Index ETF XHU $0.080
    iShares U.S. High Yield Bond Index ETF (CAD-Hedged) XHY $0.084
    iShares U.S. IG Corporate Bond Index ETF (CAD-Hedged) XIG $0.070
    iShares 1-5 Year U.S. IG Corporate Bond Index ETF (CAD-Hedged) XIGS $0.122
    iShares S&P/TSX 60 Index ETF XIU $0.275
    iShares Core Canadian Long Term Bond Index ETF XLB $0.062
    iShares S&P/TSX North American Preferred Stock Index ETF (CAD-Hedged) XPF $0.071
    iShares High Quality Canadian Bond Index ETF XQB $0.053
    iShares S&P/TSX Capped REIT Index ETF XRE $0.065
    iShares ESG Aware Canadian Aggregate Bond Index ETF XSAB $0.047
    iShares Core Canadian Short Term Bond Index ETF XSB $0.072
    iShares Conservative Short Term Strategic Fixed Income ETF XSC $0.057
    iShares Conservative Strategic Fixed Income ETF XSE $0.053
    iShares Core Canadian Short Term Corporate Bond Index ETF XSH $0.060
    iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF XSHG $0.118
    iShares 1-5 Year U.S. IG Corporate Bond Index ETF XSHU $0.127
    iShares 1-5 Year U.S. IG Corporate Bond Index ETF(1) XSHU.U $0.080
    iShares Short Term Strategic Fixed Income ETF XSI $0.060
    iShares ESG Aware Canadian Short Term Bond Index ETF XSTB $0.047
    iShares 0-5 Year TIPS Bond Index ETF (CAD-Hedged) XSTH $0.009
    iShares 0-5 Year TIPS Bond Index ETF XSTP $0.010
    iShares 0-5 Year TIPS Bond Index ETF(1) XSTP.U $0.007
    iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) XTLH $0.117
    iShares 20+ Year U.S. Treasury Bond Index ETF XTLT $0.125
    iShares 20+ Year U.S. Treasury Bond Index ETF(1) XTLT.U $0.087
    iShares Diversified Monthly Income ETF XTR $0.040
    iShares S&P/TSX Capped Utilities Index ETF XUT $0.090

    (1) Distribution per unit amounts are in U.S. dollars for XAGG.U, XCBU.U, XDG.U, XDU.U, XFLI.U, XSHU.U, XSTP.U, XTLT.U

    Estimated February Cash Distributions for the iShares Premium Money Market ETF

    The February cash distributions per unit for the iShares Premium Money Market ETF are estimated to be as follows:

    Fund Name Fund Ticker Estimated Cash Distribution Per Unit
    iShares Premium Money Market ETF CMR $0.124

    BlackRock Canada expects to issue a press release on or about February 24, 2025, which will provide the final amounts for the iShares Premium Money Market ETF.

    Further information on the iShares Funds can be found at http://www.blackrock.com/ca.

    About BlackRock

    BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @BlackRockCA

    About iShares ETFs

    iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 1500+ exchange traded funds (ETFs) and US$4.2 trillion in assets under management as of December 31, 2024, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.

    iShares® ETFs are managed by BlackRock Asset Management Canada Limited.

    Commissions, trailing commissions, management fees and expenses all may be associated with investing in iShares ETFs. Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional.

    Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”). Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). TSX is a registered trademark of TSX Inc. (“TSX”). All of the foregoing trademarks have been licensed to S&P Dow Jones Indices LLC and sublicensed for certain purposes to BlackRock Fund Advisors (“BFA”),  which in turn has sub-licensed these marks to its affiliate, BlackRock Asset Management Canada Limited (“BlackRock Canada”), on behalf of the applicable fund(s). The index is a product of S&P Dow Jones Indices LLC, and has been licensed for use by BFA and by extension, BlackRock Canada and the applicable fund(s). The funds are not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P, any of their respective affiliates (collectively known as “S&P Dow Jones Indices”) or TSX, or any of their respective affiliates. Neither S&P Dow Jones Indices nor TSX make any representations regarding the advisability of investing in such funds.

    MSCI is a trademark of MSCI, Inc. (“MSCI”). The ETF is permitted to use the MSCI mark pursuant to a license agreement between MSCI and BlackRock Institutional Trust Company, N.A., relating to, among other things, the license granted to BlackRock Institutional Trust Company, N.A. to use the Index. BlackRock Institutional Trust Company, N.A. has sublicensed the use of this trademark to BlackRock. The ETF is not sponsored, endorsed, sold or promoted by MSCI and MSCI makes no representation, condition or warranty regarding the advisability of investing in the ETF.

    Contact for Media:
    Sydney Punchard
    Email: Sydney.Punchard@blackrock.com

    The MIL Network

  • MIL-OSI: Nykredit extends the offer period concerning the recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025 – Nykredit Realkredit A/S

    Source: GlobeNewswire (MIL-OSI)

    THIS ANNOUNCEMENT IS PUBLISHED PURSUANT TO SECTION 9(4) AND (5) AND SECTION 21(3) OF EXECUTIVE ORDER NO. 636 OF 15 MAY 2020

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO ANY JURISDICTION WHERE DOING SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

    Publication of supplement concerning extension of offer period for Nykredit’s recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025

    18 February 2025

    Nykredit extends the offer period concerning the recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025

    In accordance with section 4(1) of the Danish Takeover Order1, Nykredit Realkredit A/S (“Nykredit”) announced on 10 December 2024 that Nykredit intended to submit a voluntary public tender offer (the “Offer”) to acquire all shares in Spar Nord Bank A/S (“Spar Nord Bank”), with the exception of Spar Nord Bank’s treasury shares, for a cash price of DKK 210 per share, valuing the aggregated issued share capital of Spar Nord Bank at DKK 24.7 billion.

    On 8 January 2025, Nykredit published the offer document regarding the Offer (the “Offer Document”), as approved by the Danish FSA in accordance with section 11 of the Danish Takeover Order.

    Today, Nykredit published a supplement (the “Supplement”) to the Offer Document, which extends the Offer Period for the Offer. The Supplement has been approved by the Danish FSA on 18 February 2025 in accordance with section 9(4) and section 9(5) of the Danish Takeover Order.

    Under the Offer document, the offer period is set to expire on 19 February 2025 at 23:59 (CET) (the “Initial Offer Period”).

    With the Supplement, Nykredit extends the Initial Offer Period, such that the Offer will expire on 20 March 2025 at 23:59 (CET). Subsequently, any reference to the “Offer Period” in the Offer Document or other documents relating to the Offer will refer to the period commencing on the day of publication of the Offer Document on 8 January 2025 and ending on 20 March 2025 at 23:59 (the “Extended Offer Period”).

    The purpose of the extension is to provide Nykredit with more time to obtain the approval from the Danish Competition and Consumer Authority required to complete the Offer. The process to obtain such approval from the Danish Competition and Consumer Authority is proceeding as planned.

    If the approval from the Danish Competition and Consumer Authority has not been granted by the expiry of the Extended Offer Period, Nykredit expects to extend the Extended Offer Period further.

    The extension of the Initial Offer Period entails that the expected completion of the Offer and settlement of the Offer Price to the Spar Nord Bank shareholders who have accepted the Offer will be extended correspondingly. Completion is subsequently expected to take place on 28 March 2025.

    At the time of this announcement, Nykredit holds 32.44 per cent of the shares in Spar Nord Bank, and on 4 February 2025 Nykredit released an announcement to the effect that a preliminary compilation of the acceptances that Nykredit is aware of indicates that the 67 per cent acceptance limit of the Offer has been achieved. The final result of the Offer will be determined on expiry of the Offer Period and published in accordance with section 21(3) of the Danish Takeover Order.

    The full terms and conditions of the Offer are contained in the Offer Document as amended by the Supplement. The Offer Document and the Supplement are published in the Danish FSA’s OAM database: https://oam.finanstilsynet.dk/ and can also, with certain restrictions, be accessed at https://www.nykredit.com/kobstilbud-spar-nord/ and https://www.sparnord.dk/investor-relations/overtagelsestilbud.

    About Spar Nord Bank

    Spar Nord Bank was founded in 1824 and is now a nationwide bank with 58 branches. Spar Nord Bank offers all types of financial services, consultancy and products, focusing its business on retail customers and primarily small and medium-sized enterprises (SMEs) in the local areas in which the bank is represented. The bank is also focused on leasing operations and large corporate customers, which are both business areas handled by the head offices.

    Spar Nord Bank has historically been rooted in northern Jutland and continues to be a market leader in this region. However, in the period from 2002 to 2024, Spar Nord Bank has established and acquired branches outside northern Jutland. Over the course of the years, the bank has adjusted its branch network in an ongoing process and now has a nationwide distribution network comprising 58 branches. These 58 branches are distributed on 32 banking areas, each of which is headed by a manager reporting directly to the bank’s executive board.

    The Spar Nord Bank Group consists of two earnings entities: Spar Nord Bank’s branches and the Trading Division. As an entity, the Trading Division serves customers from Spar Nord Bank’s branches as well as large retail customers and institutional clients in the field of equities, bonds, fixed income and forex products, asset management and international transactions. Finally, under the concept Sparxpres, the bank offers consumer loans to personal customers through Sparxpres’ platform as well as debt consolidation loans and consumer financing via retail stores and gift voucher solutions via shopping centres and city associations.

    About Nykredit

    Nykredit Realkredit A/S (“Nykredit”) is a public limited company incorporated under the laws of Denmark, company reg. (CVR) no. 12 71 92 80, having its registered office at Sundkrogsgade 25, 2150 Nordhavn, Denmark. Nykredit is a mortgage credit institution and, together with its wholly-owned subsidiary Totalkredit A/S, is a market leader of the Danish mortgage credit market with a market share of some 45.2 per cent. Nykredit offers mortgage financing for private individuals and businesses.

    Nykredit is part of the Nykredit Group, which historically dates back to 1851. In addition to carrying on mortgage credit business, the Group carries on banking business through Nykredit Bank – including banking and wealth management operations – and has a total of around 4,000 employees in Denmark.

    Nykredit is owned by an association of the Nykredit Group’s customers, Forenet Kredit. Forenet Kredit owns close to 80 per cent of Nykredit’s shares. Other major shareholders are five Danish pension funds: Akademikernes Pension AP Pension, PensionDanmark, PFA and PKA.

    Nykredit is known for the advantages offered through the association. Forenet Kredit makes capital contributions to the Nykredit Group when times are good, and Nykredit has decided to pass these on to its customers.

    Since, 2017, Forenet Kredit has paid over DKK 8 billion in capital contributions to the Nykredit Group, and in the period to 2027, Forenet Kredit has provided a further DKK 7 billion.

    Questions and further information

    Any questions concerning the Offer may be directed to:

    Nykredit Bank A/S

    Company reg. (CVR) no.: 10 51 96 08

    Sundkrogsgade 25

    2150 Nordhavn
    Denmark

    Telephone: +45 7010 9000

    and

    Carnegie Investment Bank

    Filial af Carnegie Investment Bank AB (publ), Sverige

    Company reg. (CVR) no. 35 52 12 67

    Overgaden Neden Vandet 9 B

    1414 Copenhagen K
    Denmark

    E-mail: annette.hansen@carnegie.dk

    For further information about the Offer, please see: https://www.nykredit.com/kobstilbud-spar-nord/.

    This announcement and the Offer Document (with Supplement) are not directed at shareholders of Spar Nord Bank A/S whose participation in the Offer would require the issuance of an offer document, registration or activities other than what is required under Danish law (and, in the case of shareholders in the United States of America, Section 14(e) of, and applicable provisions of Regulation 14E promulgated under, the US Securities Exchange Act of 1934, as amended). The Offer is not made and will not be made, directly or indirectly, to shareholders resident in any jurisdiction in which the submission of the Offer or acceptance thereof would be in contravention of the laws of such jurisdiction. Any person coming into possession of this announcement, the Offer Document or any other document containing a reference to the Offer is expected and assumed to independently obtain all necessary information about any applicable restrictions and to observe these.

    This announcement does not constitute an offer or an invitation to purchase securities or a solicitation of an offer to purchase securities in accordance with the Offer or otherwise. The Offer will be submitted only in the form of the Offer Document (with Supplement) approved by the FSA, which sets out the full terms and conditions of the Offer, including information on how to accept the Offer. The shareholders of Spar Nord Bank are advised to read the Offer Document and any related documents as they contain important information.

    Restricted jurisdictions

    The Offer is not made, and acceptance of the Offer to tender Spar Nord Bank Shares is not accepted, neither directly nor indirectly, in or from any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the laws of such jurisdiction or would require any registration, approval or any other measures with any regulatory authority not expressly contemplated by the Offer Document (the “Restricted Jurisdictions”). Neither the United States nor the United Kingdom is a Restricted Jurisdiction.

    Restricted Jurisdictions include, but are not limited to: Australia, Canada, Hong Kong, Japan, New Zealand and South Africa.

    Persons obtaining documents or information relating to the Offer (including custodians, account holding institutions, nominees, trustees, representatives, fiduciaries or other intermediaries) should not distribute, communicate, transfer or send these in or into a Restricted Jurisdiction or use mail or any other means of communication in or into a Restricted Jurisdiction in connection with the Offer. Persons (including, but not limited to, custodians, custodian banks, nominees, trustees, representatives, fiduciaries or other intermediaries) intending to communicate this announcement, the Supplement, the Offer Document or any related document to any jurisdiction outside Denmark or the United States should inform themselves about these restrictions before taking any action. Any failure to comply with these restrictions may constitute a violation of the Laws of such jurisdiction, including securities Laws. It is the responsibility of all Persons obtaining announcement, the Supplement, the Offer Document, an acceptance form and/or other documents relating to the Offer, or into whose possession such documents otherwise come, to inform themselves about and observe all such restrictions.

    Nykredit is not responsible for ensuring that the distribution, dissemination or communication of this announcement, the Supplement or the Offer Document to Shareholders outside Denmark, the United States and the United Kingdom is consistent with applicable Law in any jurisdiction other than Denmark, the United States and the United Kingdom.

    Important Information for Shareholders in the United States

    The Offer concerns the shares in Spar Nord Bank, a public limited liability company incorporated and admitted to trading on a regulated market in Denmark, and is subject to the disclosure and procedural requirements of Danish law, including the Danish capital markets act and the Danish takeover order.

    The Offer is being made to shareholders in Spar Nord Bank in the United States in compliance with the applicable US tender offer rules under the U.S. Securities Exchange Act of 1934, as amended, (the “U.S. Exchange Act”), including Regulation 14E promulgated thereunder, subject to the relief available for a “Tier II” tender offer, and otherwise in accordance with the requirements of Danish law and practice

    Accordingly, US Spar Nord Bank shareholders should be aware that this announcement and any other documents regarding the Offer have been prepared in accordance with, and will be subject to, the disclosure and other procedural requirements, including with respect to withdrawal rights, the Offer timetable, settlement procedures and timing of payments of Danish law and practice, which may differ materially from those applicable under US domestic tender offer law and practice. In addition, the financial information contained in this announcement or the Offer Document has not been prepared in accordance with generally accepted accounting principles in the United States, or derived therefrom, and may therefore differ from, or not be comparable with, financial information of US companies.

    In accordance with the laws of, and practice in, Denmark and to the extent permitted by applicable law, including Rule 14e-5 under the U.S. Exchange Act, Nykredit, Nykredit’s affiliates or any nominees or brokers of the foregoing (acting as agents, or in a similar capacity, for Nykredit or any of its affiliates, as applicable) may from time to time, and other than pursuant to the Offer, directly or indirectly, purchase, or arrange to purchase, outside of the United States, shares in Spar Nord Bank or any securities that are convertible into, exchangeable for or exercisable for such shares in Spar Nord Bank before or during the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. Any information about such purchases will be announced via Nasdaq Copenhagen and relevant electronic media if, and to the extent, such announcement is required under applicable law. To the extent information about such purchases or arrangements to purchase is made public in Denmark, such information will be disclosed by means of a press release or other means reasonably calculated to inform US shareholders of Spar Nord Bank of such information.

    In addition, subject to the applicable laws of Denmark and US securities laws, including Rule 14e-5 under the U.S. Exchange Act, the financial advisers to Nykredit or their respective affiliates may also engage in ordinary course trading activities in securities of Spar Nord Bank, which may include purchases or arrangements to purchase such securities.

    It may not be possible for US shareholders to effect service of process within the United States upon Spar Nord Bank, Nykredit or any of their respective affiliates, or their respective officers or directors, some or all of which may reside outside the United States, or to enforce against any of them judgments of the United States courts predicated upon the civil liability provisions of the federal securities laws of the United States or other US law. It may not be possible to bring an action against Nykredit, Spar Nord Bank and/or their respective officers or directors (as applicable) in a non-US court for violations of US laws. Further, it may not be possible to compel Nykredit and Spar Nord Bank or their respective affiliates, as applicable, to subject themselves to the judgment of a US court. In addition, it may be difficult to enforce in Denmark original actions, or actions for the enforcement of judgments of US courts, based on the civil liability provisions of the US federal securities laws.

    The Offer, if completed, may have consequences under US federal income tax and under applicable US state and local, as well as non-US, tax laws. Each shareholder of Spar Nord Bank is urged to consult its independent professional adviser immediately regarding the tax consequences of the Offer.

    NEITHER THE U.S. SECURITIES AND EXCHANGE COMMISSION NOR ANY SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY IN ANY STATE OF THE U.S. HAS APPROVED OR DECLINED TO APPROVE THE OFFER OR THIS ANNOUNCEMENT, PASSED UPON THE FAIRNESS OR MERITS OF THE OFFER OR PROVIDED AN OPINION AS TO THE ACCURACY OR COMPLETENESS OF THIS ANNOUNCEMENT OR ANY OFFER DOCUMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.


    1 Executive Order no. 636 of 15 May 2020

    Attachment

    The MIL Network

  • MIL-OSI: Correction: Nykredit extends the offer period concerning the recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025 – Nykredit Realkredit A/S

    Source: GlobeNewswire (MIL-OSI)

    THIS ANNOUNCEMENT IS PUBLISHED PURSUANT TO SECTION 9(4) AND (5) AND SECTION 21(3) OF EXECUTIVE ORDER NO. 636 OF 15 MAY 2020

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO ANY JURISDICTION WHERE DOING SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

    Publication of supplement concerning extension of offer period for Nykredit’s recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025

    18 February 2025

    Nykredit extends the offer period concerning the recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025

    In accordance with section 4(1) of the Danish Takeover Order1, Nykredit Realkredit A/S (“Nykredit”) announced on 10 December 2024 that Nykredit intended to submit a voluntary public tender offer (the “Offer”) to acquire all shares in Spar Nord Bank A/S (“Spar Nord Bank”), with the exception of Spar Nord Bank’s treasury shares, for a cash price of DKK 210 per share, valuing the aggregated issued share capital of Spar Nord Bank at DKK 24.7 billion.

    On 8 January 2025, Nykredit published the offer document regarding the Offer (the “Offer Document”), as approved by the Danish FSA in accordance with section 11 of the Danish Takeover Order.

    Today, Nykredit published a supplement (the “Supplement”) to the Offer Document, which extends the Offer Period for the Offer. The Supplement has been approved by the Danish FSA on 18 February 2025 in accordance with section 9(4) and section 9(5) of the Danish Takeover Order.

    Under the Offer document, the offer period is set to expire on 19 February 2025 at 23:59 (CET) (the “Initial Offer Period”).

    With the Supplement, Nykredit extends the Initial Offer Period, such that the Offer will expire on 20 March 2025 at 23:59 (CET). Subsequently, any reference to the “Offer Period” in the Offer Document or other documents relating to the Offer will refer to the period commencing on the day of publication of the Offer Document on 8 January 2025 and ending on 20 March 2025 at 23:59 (the “Extended Offer Period”).

    The purpose of the extension is to provide Nykredit with more time to obtain the approval from the Danish Competition and Consumer Authority required to complete the Offer. The process to obtain such approval from the Danish Competition and Consumer Authority is proceeding as planned.

    If the approval from the Danish Competition and Consumer Authority has not been granted by the expiry of the Extended Offer Period, Nykredit expects to extend the Extended Offer Period further.

    The extension of the Initial Offer Period entails that the expected completion of the Offer and settlement of the Offer Price to the Spar Nord Bank shareholders who have accepted the Offer will be extended correspondingly. Completion is subsequently expected to take place on 28 March 2025.

    At the time of this announcement, Nykredit holds 32.44 per cent of the shares in Spar Nord Bank, and on 4 February 2025 Nykredit released an announcement to the effect that a preliminary compilation of the acceptances that Nykredit is aware of indicates that the 67 per cent acceptance limit of the Offer has been achieved. The final result of the Offer will be determined on expiry of the Offer Period and published in accordance with section 21(3) of the Danish Takeover Order.

    The full terms and conditions of the Offer are contained in the Offer Document as amended by the Supplement. The Offer Document and the Supplement are published in the Danish FSA’s OAM database: https://oam.finanstilsynet.dk/ and can also, with certain restrictions, be accessed at https://www.nykredit.com/kobstilbud-spar-nord/ and https://www.sparnord.dk/investor-relations/overtagelsestilbud.

    About Spar Nord Bank

    Spar Nord Bank was founded in 1824 and is now a nationwide bank with 58 branches. Spar Nord Bank offers all types of financial services, consultancy and products, focusing its business on retail customers and primarily small and medium-sized enterprises (SMEs) in the local areas in which the bank is represented. The bank is also focused on leasing operations and large corporate customers, which are both business areas handled by the head offices.

    Spar Nord Bank has historically been rooted in northern Jutland and continues to be a market leader in this region. However, in the period from 2002 to 2024, Spar Nord Bank has established and acquired branches outside northern Jutland. Over the course of the years, the bank has adjusted its branch network in an ongoing process and now has a nationwide distribution network comprising 58 branches. These 58 branches are distributed on 32 banking areas, each of which is headed by a manager reporting directly to the bank’s executive board.

    The Spar Nord Bank Group consists of two earnings entities: Spar Nord Bank’s branches and the Trading Division. As an entity, the Trading Division serves customers from Spar Nord Bank’s branches as well as large retail customers and institutional clients in the field of equities, bonds, fixed income and forex products, asset management and international transactions. Finally, under the concept Sparxpres, the bank offers consumer loans to personal customers through Sparxpres’ platform as well as debt consolidation loans and consumer financing via retail stores and gift voucher solutions via shopping centres and city associations.

    About Nykredit

    Nykredit Realkredit A/S (“Nykredit”) is a public limited company incorporated under the laws of Denmark, company reg. (CVR) no. 12 71 92 80, having its registered office at Sundkrogsgade 25, 2150 Nordhavn, Denmark. Nykredit is a mortgage credit institution and, together with its wholly-owned subsidiary Totalkredit A/S, is a market leader of the Danish mortgage credit market with a market share of some 45.2 per cent. Nykredit offers mortgage financing for private individuals and businesses.

    Nykredit is part of the Nykredit Group, which historically dates back to 1851. In addition to carrying on mortgage credit business, the Group carries on banking business through Nykredit Bank – including banking and wealth management operations – and has a total of around 4,000 employees in Denmark.

    Nykredit is owned by an association of the Nykredit Group’s customers, Forenet Kredit. Forenet Kredit owns close to 80 per cent of Nykredit’s shares. Other major shareholders are five Danish pension funds: Akademikernes Pension AP Pension, PensionDanmark, PFA and PKA.

    Nykredit is known for the advantages offered through the association. Forenet Kredit makes capital contributions to the Nykredit Group when times are good, and Nykredit has decided to pass these on to its customers.

    Since, 2017, Forenet Kredit has paid over DKK 8 billion in capital contributions to the Nykredit Group, and in the period to 2027, Forenet Kredit has provided a further DKK 7 billion.

    Questions and further information

    Any questions concerning the Offer may be directed to:

    Nykredit Bank A/S

    Company reg. (CVR) no.: 10 51 96 08

    Sundkrogsgade 25

    2150 Nordhavn
    Denmark

    Telephone: +45 7010 9000

    and

    Carnegie Investment Bank

    Filial af Carnegie Investment Bank AB (publ), Sverige

    Company reg. (CVR) no. 35 52 12 67

    Overgaden Neden Vandet 9 B

    1414 Copenhagen K
    Denmark

    E-mail: annette.hansen@carnegie.dk

    For further information about the Offer, please see: https://www.nykredit.com/kobstilbud-spar-nord/.

    This announcement and the Offer Document (with Supplement) are not directed at shareholders of Spar Nord Bank A/S whose participation in the Offer would require the issuance of an offer document, registration or activities other than what is required under Danish law (and, in the case of shareholders in the United States of America, Section 14(e) of, and applicable provisions of Regulation 14E promulgated under, the US Securities Exchange Act of 1934, as amended). The Offer is not made and will not be made, directly or indirectly, to shareholders resident in any jurisdiction in which the submission of the Offer or acceptance thereof would be in contravention of the laws of such jurisdiction. Any person coming into possession of this announcement, the Offer Document or any other document containing a reference to the Offer is expected and assumed to independently obtain all necessary information about any applicable restrictions and to observe these.

    This announcement does not constitute an offer or an invitation to purchase securities or a solicitation of an offer to purchase securities in accordance with the Offer or otherwise. The Offer will be submitted only in the form of the Offer Document (with Supplement) approved by the FSA, which sets out the full terms and conditions of the Offer, including information on how to accept the Offer. The shareholders of Spar Nord Bank are advised to read the Offer Document and any related documents as they contain important information.

    Restricted jurisdictions

    The Offer is not made, and acceptance of the Offer to tender Spar Nord Bank Shares is not accepted, neither directly nor indirectly, in or from any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the laws of such jurisdiction or would require any registration, approval or any other measures with any regulatory authority not expressly contemplated by the Offer Document (the “Restricted Jurisdictions”). Neither the United States nor the United Kingdom is a Restricted Jurisdiction.

    Restricted Jurisdictions include, but are not limited to: Australia, Canada, Hong Kong, Japan, New Zealand and South Africa.

    Persons obtaining documents or information relating to the Offer (including custodians, account holding institutions, nominees, trustees, representatives, fiduciaries or other intermediaries) should not distribute, communicate, transfer or send these in or into a Restricted Jurisdiction or use mail or any other means of communication in or into a Restricted Jurisdiction in connection with the Offer. Persons (including, but not limited to, custodians, custodian banks, nominees, trustees, representatives, fiduciaries or other intermediaries) intending to communicate this announcement, the Supplement, the Offer Document or any related document to any jurisdiction outside Denmark or the United States should inform themselves about these restrictions before taking any action. Any failure to comply with these restrictions may constitute a violation of the Laws of such jurisdiction, including securities Laws. It is the responsibility of all Persons obtaining announcement, the Supplement, the Offer Document, an acceptance form and/or other documents relating to the Offer, or into whose possession such documents otherwise come, to inform themselves about and observe all such restrictions.

    Nykredit is not responsible for ensuring that the distribution, dissemination or communication of this announcement, the Supplement or the Offer Document to Shareholders outside Denmark, the United States and the United Kingdom is consistent with applicable Law in any jurisdiction other than Denmark, the United States and the United Kingdom.

    Important Information for Shareholders in the United States

    The Offer concerns the shares in Spar Nord Bank, a public limited liability company incorporated and admitted to trading on a regulated market in Denmark, and is subject to the disclosure and procedural requirements of Danish law, including the Danish capital markets act and the Danish takeover order.

    The Offer is being made to shareholders in Spar Nord Bank in the United States in compliance with the applicable US tender offer rules under the U.S. Securities Exchange Act of 1934, as amended, (the “U.S. Exchange Act”), including Regulation 14E promulgated thereunder, subject to the relief available for a “Tier II” tender offer, and otherwise in accordance with the requirements of Danish law and practice

    Accordingly, US Spar Nord Bank shareholders should be aware that this announcement and any other documents regarding the Offer have been prepared in accordance with, and will be subject to, the disclosure and other procedural requirements, including with respect to withdrawal rights, the Offer timetable, settlement procedures and timing of payments of Danish law and practice, which may differ materially from those applicable under US domestic tender offer law and practice. In addition, the financial information contained in this announcement or the Offer Document has not been prepared in accordance with generally accepted accounting principles in the United States, or derived therefrom, and may therefore differ from, or not be comparable with, financial information of US companies.

    In accordance with the laws of, and practice in, Denmark and to the extent permitted by applicable law, including Rule 14e-5 under the U.S. Exchange Act, Nykredit, Nykredit’s affiliates or any nominees or brokers of the foregoing (acting as agents, or in a similar capacity, for Nykredit or any of its affiliates, as applicable) may from time to time, and other than pursuant to the Offer, directly or indirectly, purchase, or arrange to purchase, outside of the United States, shares in Spar Nord Bank or any securities that are convertible into, exchangeable for or exercisable for such shares in Spar Nord Bank before or during the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. Any information about such purchases will be announced via Nasdaq Copenhagen and relevant electronic media if, and to the extent, such announcement is required under applicable law. To the extent information about such purchases or arrangements to purchase is made public in Denmark, such information will be disclosed by means of a press release or other means reasonably calculated to inform US shareholders of Spar Nord Bank of such information.

    In addition, subject to the applicable laws of Denmark and US securities laws, including Rule 14e-5 under the U.S. Exchange Act, the financial advisers to Nykredit or their respective affiliates may also engage in ordinary course trading activities in securities of Spar Nord Bank, which may include purchases or arrangements to purchase such securities.

    It may not be possible for US shareholders to effect service of process within the United States upon Spar Nord Bank, Nykredit or any of their respective affiliates, or their respective officers or directors, some or all of which may reside outside the United States, or to enforce against any of them judgments of the United States courts predicated upon the civil liability provisions of the federal securities laws of the United States or other US law. It may not be possible to bring an action against Nykredit, Spar Nord Bank and/or their respective officers or directors (as applicable) in a non-US court for violations of US laws. Further, it may not be possible to compel Nykredit and Spar Nord Bank or their respective affiliates, as applicable, to subject themselves to the judgment of a US court. In addition, it may be difficult to enforce in Denmark original actions, or actions for the enforcement of judgments of US courts, based on the civil liability provisions of the US federal securities laws.

    The Offer, if completed, may have consequences under US federal income tax and under applicable US state and local, as well as non-US, tax laws. Each shareholder of Spar Nord Bank is urged to consult its independent professional adviser immediately regarding the tax consequences of the Offer.

    NEITHER THE U.S. SECURITIES AND EXCHANGE COMMISSION NOR ANY SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY IN ANY STATE OF THE U.S. HAS APPROVED OR DECLINED TO APPROVE THE OFFER OR THIS ANNOUNCEMENT, PASSED UPON THE FAIRNESS OR MERITS OF THE OFFER OR PROVIDED AN OPINION AS TO THE ACCURACY OR COMPLETENESS OF THIS ANNOUNCEMENT OR ANY OFFER DOCUMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.


    1 Executive Order no. 636 of 15 May 2020

    Attachments

    The MIL Network

  • MIL-Evening Report: The Reserve Bank has cut rates for the first time in four years. But it is cautious about future cuts

    Source: The Conversation (Au and NZ) – By John Hawkins, Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra

    The Reserve Bank cut official interest rates on Tuesday, the first decrease in four years, saying inflationary pressures are easing “a little more quickly than expected”.

    However, the central bank said the outlook for economic activity and inflation remains uncertain, with a risk that household spending may be slower than expected.

    The reduction in the cash rate target will come as a relief to the one-third of households with a mortgage. It will help to ease the cost of living crisis for them.

    The cut from a 13-year high of 4.35% to 4.1% had been widely expected by economists and financial markets.

    The interest rate cut may help tip the scales for the government to call an early election. But recent opinion polls suggest the government still has work to do to put itself in a winning position.

    Announcing its decision, the Reserve Bank said it had “more confidence that inflation is moving sustainably towards the midpoint of the 2-3% target”.

    All four of the major banks swiftly passed on the cut in official rates to mortgage-holders. The average new housing loan is $666,000. Reducing the interest rate on this by 0.25% will mean $110 less a month in repayments (assuming a standard 30-year loan).

    It is the first change in the cash rate since November 2023 and marks the first small reversal of 13 rate increases. The central bank had hiked interest rates quickly from the near-zero emergency level during the COVID epidemic and lockdowns.



    Why did the Reserve Bank cut now?

    The interest rate cut comes after headline inflation eased, to 2.4% during 2024, within the Bank’s 2-3% inflation target range.

    However, the Bank’s preferred measure of underlying inflation, the “trimmed mean”, which excludes temporary factors such as the government’s electricity rebates, rose by 3.2% during 2024. This is just above the target range but a little less than the 3.4% the Bank had been forecasting.



    “We cannot declare victory on inflation just yet,” Reserve Bank Governor Michele Bullock told a press conference after the decision. “It’s not good enough for it to be back in the target range temporarily, the board needs to be confident it’s returning to the target range sustainably.”




    Read more:
    Lower inflation in the December quarter boosts chances of an interest rate cut


    The RBA and the election

    In its first meeting for the year, the Reserve Bank board rejected the notion that they should hold off changing rates because an election is approaching.

    While cutting interest rates will suit one side of politics, not cutting would have benefited the other. The impartial approach is to take the same decision as if no election were looming.

    As then RBA governor Glenn Stevens said in 2007 after raising rates during an election campaign:

    I do not think we ever could accept the idea that in an election year — which, after all, is one year out of three — you cannot change interest rates.

    How does the Reserve Bank compare with other central banks?

    Some central banks in comparable economies had already started lowering interest rates and have cut them by more than the RBA. But that is because most had raised interest rates by more.

    The Reserve Bank adopted a strategy of being more patient in returning inflation to its target, so as to limit the increase in unemployment.



    The strategy has worked. Unemployment in Australia peaked at 4.2% and is now 4.0%. By contrast, in New Zealand it is over 5% and in the euro area and Canada it is over 6%.

    The Reserve Bank hasn’t received the credit it deserves for this strong performance.

    Where to from here?

    This is the last meeting of the current Reserve Bank board. It is being replaced by a new monetary policy committee, and a separate governance board as part of an overhaul of the bank. Two new members will replace two members of the current board for its next meeting on April 1.

    The RBA board’s statement said that it “remains cautious on prospects for further policy easing”. This is central bank-speak for not rushing into further interest rate cuts.

    The RBA also noted that “geopolitical and policy uncertainties are pronounced”. This is a reference to the economic fallout from United States President Donald Trump’s policies on trade and slashing jobs.

    His proposed tariffs and deportations will increase inflation in the US and make US interest rates higher than they otherwise would be.




    Read more:
    What would a second Trump presidency mean for the global economy?


    But this does not mean interest rates need to be higher here. Indeed, a trade war would weaken the global economy, which could lead to less inflation in Australia.

    The Reserve Bank also released its updated forecasts. These show the underlying inflation rate dropping to 2.7% by June and then staying around there through 2026 and 2027.

    Unemployment is low at 4%, and below what the Bank has previously regarded as “full employment”. But it is not leading to any surge in wage growth.

    Indeed, the Bank commented that wages growth has been a little lower than it had forecast. Inflationary expectations are also well contained.

    This offers hope there may be at least one further interest rate cut later this year (and the Reserve Bank’s forecasts assume this). But borrowers should not get their hopes up that interest rates will revisit the COVID-era lows. That is very unlikely.

    John Hawkins was formerly a senior economist at the Reserve Bank.

    ref. The Reserve Bank has cut rates for the first time in four years. But it is cautious about future cuts – https://theconversation.com/the-reserve-bank-has-cut-rates-for-the-first-time-in-four-years-but-it-is-cautious-about-future-cuts-249704

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI China: ‘Everything’ on table to retaliate against U.S. tariffs: Canadian trade minister

    Source: China State Council Information Office

    The Canadian government is ready to retaliate against U.S. tariffs, the nation’s trade minister told Australian media on Monday.

    Mary Ng, Canada’s minister of export promotion, international trade and economic development, said during an official visit to Australia that the U.S. government’s promised tariffs will “simply create costs for Americans.”

    U.S. President Donald Trump earlier in February agreed to pause a 25 percent tariff on all goods imported to the United States from Canada and Mexico except for energy products, which will face 10 percent tariffs, for 30 days.

    Ng told Australian Broadcasting Corporation (ABC) television on Monday night that Canada is ready to retaliate if the tariffs are implemented.

    “Should Canada get tariffs that are punishing, tariffs that will hurt our economy, everything will be on the table,” she said. “We will respond, and we will respond with impact.”

    The Australian government has said it is working on an exemption from U.S. 25 percent tariffs on all steel and aluminum imports.

    Ng, who is in Australia leading a delegation of 140 Canadian companies aiming to boost the trade relationship between the countries, told the ABC that the two countries have not yet discussed a joint response to U.S. tariffs.

    In a separate interview with Nine Entertainment newspapers, she said that Australia and Canada should continue to promote open and free trade under a system “that is underpinned by a rules-based order.”

    Ng met with Don Farrell, Australia’s minister for trade and tourism, over the weekend.

    Farrell on Thursday rejected a claim from Peter Navarro, Trump’s senior counselor for trade and manufacturing, that aluminum imported from Australia is “killing” the U.S. market. 

    MIL OSI China News

  • MIL-OSI Canada: Travellers on Air Canada Flight 66 that arrived in Vancouver on February 11, 2025, advised to monitor for measles symptoms

    Travellers on Air Canada Flight 66 that arrived in Vancouver on February 11, 2025, advised to monitor for measles symptoms
    jlutz

    Yukon Communicable Disease Control (YCDC) and the Chief Medical Officer of Health (CMOH) are advising Yukoners of a potential measles exposure linked to Air Canada Flight 66, which arrived in Vancouver on February 11, 2025, as announced by the British Columbia Centre for Disease Control (BCCDC).

    Measles is a highly contagious viral infection that can cause serious complications, particularly for infants, pregnant individuals and those with weakened immune systems. Yukoners who may have been on this flight or in contact with affected individuals are advised to monitor for symptoms and follow public health guidance. High risk groups should contact YCDC at 867-667-8323 for guidance.

    Those considered high-risk for severe illness include:

    • individuals who have never had measles disease;
    • those who have not had two doses of the measles vaccine;
    • infants under six months of age;
    • pregnant people; and
    • people with weakened immune system.

    Symptoms of measles

    Measles symptoms typically appear seven to 21 days after exposure and include:

    • fever of 38.3°C or higher;
    • cough, runny nose or red eyes; and
    • a red, blotchy rash appearing three to seven days after a fever starts.

    Individuals who develop symptoms should isolate immediately and call 811 or their health centre or YCDC before visiting any health care facility or provider.

    Prevention

    To reduce the risk of measles infection, the Government of Yukon encourages all Yukoners to:

    • stay up to date with their measles, mumps and rubella (MMR) vaccination; and
    • check their immunization records and ensure they have received two doses of the MMR or MMR-V vaccine.

    If unsure of your immunization status or you require a vaccine, contact YCDC or your health care provider.
     

    Related information:

    Information about measles

    Measles guidelines for health professionals

    MMR and MMRV vaccines for the Yukon immunization program

    British Columbia media alert on confirmed case of measles in Lower Mainland

    MIL OSI Canada News

  • MIL-OSI Canada: Statement from Premier Pillai on the Council of the Federation Washington, D.C., mission

    Statement from Premier Pillai on the Council of the Federation Washington, D.C., mission
    jlutz

    Premier Ranj Pillai has issued the following statement:

    “Last week, alongside my fellow Premiers, I travelled to Washington, D.C., to reinforce the deep and enduring ties between Canada and the United States. As a unified voice, all 13 territorial and provincial Premiers reinforced the significance of Canada-U.S. relations and challenged harmful tariffs.

    “We met with key representatives from Congress, business leaders and policy experts to discuss Arctic security and the importance of maintaining strong trade and economic ties. The meetings included a discussion at the White House with senior officials close to President Trump, including Deputy Chief of Staff James Blair. As Premiers, we gained valuable insight into the administration’s approach and emphasized the need for cross-border cooperation – particularly in addressing the alarming rise of fentanyl, which has severely impacted the Yukon and communities in both countries.

    “To bring northern voices to the international stage, I joined Premier of the Northwest Territories R.J. Simpson and Premier of Nunavut P.J. Akeeagok in a panel discussion at the Wilson Center. We highlighted our territories’ role in Arctic security, the strategic importance of critical minerals and the need for Indigenous-led economic initiatives.

    “Building a strong, resilient economy in the Yukon remains a top priority for this government, which is why I focused discussions on how we can strengthen cross-border trade, investment and infrastructure partnerships. In addition, as part of a meeting hosted by the Canadian American Business Council, I met with business leaders to explore opportunities for increased investment in the Yukon. I then met with Alaska Senator Lisa Murkowski and House Representative Nick Begich to discuss our relations with Alaska. We talked about the importance of working together as neighbours and the impact of tariffs on both our citizens.

    “While recent trade tensions between Canada and the U.S. remain a concern, it is important that there is constructive dialogue and solutions that reinforce the mutual economic benefits of a strong partnership. Our economies are deeply interconnected and it is in our mutual interest to foster trade policies that support growth, innovation and prosperity on both sides of the border. Canada and the United States have always found ways to work through challenges and I am confident we will continue to do so.

    “Thank you to my fellow Premiers for standing united as Team Canada throughout this trip and a special thanks to Ontario Premier Doug Ford in his role as the current Council of the Federation Chair for leading these efforts.

    “Together, we are defending Canadian jobs, our economy and our way of life.”
     

    MIL OSI Canada News

  • MIL-OSI Security: Whitehorse — Whitehorse RCMP seek the public’s assistance to identify an armed robbery suspect

    Source: Royal Canadian Mounted Police

    The morning of February 17, 2025, Whitehorse RCMP received a report of an armed robbery at the Edgewater Hotel on Main Street in Whitehorse, Yukon.

    An unknown male suspect wearing a face covering entered the front lobby sometime after 8:15 am. The male displayed a weapon and demanded money. The male suspect is described as Caucasian, 5 foot 8 inches to 6 feet tall, mid to late 30’s, wearing a light blue coat and a dark toque.

    RCMP are asking for assistance to identify this person. If you see this person do not approach and contact police at 867-667-5555. Should you wish to remain anonymous, please contact Crime Stoppers at 1-800-222-8477.

    MIL Security OSI

  • MIL-OSI Canada: The Haida Nation and Canada announce a first-of-its-kind agreement recognizing Aboriginal title on Haida Gwaii

    Source: Government of Canada – Prime Minister

    Today, the President of the Haida Nation, Gaagwiis Jason Alsop, the Prime Minister, Justin Trudeau, and the Minister of Crown-Indigenous Relations and Northern Affairs and Minister responsible for the Canadian Northern Economic Development Agency, Gary Anandasangaree, announced the signing of the Chiix̲uujin / Chaaw K̲aawgaa “Big Tide (Low Water)” Haida Title Lands Agreement. The Agreement includes Canada’s recognition of Haida Aboriginal title to lands on Haida Gwaii and marks a significant milestone in the journey to reconciliation.

    Canada’s recognition of Haida Aboriginal title on Haida Gwaii includes the foreshore and extends to the low-water mark. The Agreement does not affect private property interests or local and municipal governments on Haida Gwaii, and it confirms the continued delivery of federal public services. The Haida-Canada Archipelago Management Board will also continue to co-operatively manage Gwaii Haanas through a transition period, during which both governments will work to reconcile jurisdictions and laws.

    The Haida Nation collectively holds inherent Haida title and rights as described in the Constitution of the Haida Nation. At a Special House of Assembly on November 24, 2024, Haida citizens voted 97 per cent in favour of the Chiix̲uujin / Chaaw K̲aawgaa “Big Tide (Low Water)” Haida Title Lands Agreement. As a result, the Agreement was signed by the Haida Nation and Canada on December 4, 2024.

    Over an estimated five-year transition period, the Haida Nation and Canada will continue to work respectfully and co-operatively on matters relating to Haida Gwaii. Both governments have agreed that this transition will be implemented in an orderly and incremental way, providing ongoing stability for all island residents and other interest holders on Haida Gwaii.

    This Agreement builds on previous reconciliation accomplishments, including the Nang K̲’uula / Nang K̲’úulaas Recognition Agreement signed by the Haida Nation, Canada, and British Columbia in 2023, as well as the Gaayhllxid / Gíihlagalgang “Rising Tide” Haida Title Lands Agreement signed by the Haida Nation and British Columbia in April 2024.

    The Chiix̲uujin / Chaaw K̲aawgaa “Big Tide (Low Water)” Haida Title Lands Agreement is a concrete demonstration of Canada’s commitment to implementing and advancing the United Nations Declaration on the Rights of Indigenous Peoples. Canada’s recognition of Haida Aboriginal title results from Gud ad T’alang HlG̲ang.gulx̲a Tll Yahda / Tll yá’adee G̲ii gud ahl t’álang hlG̲ángulaang (“People Working Together to Make it Right”) – and, in this way, upholds the duty and honour of the Crown based on a principled and respectful nation-to-nation relationship.

    Quotes

    “The recognition of Haida title to Haida Gwaii by Canada acknowledges historic injustices and illustrates the transformative possibilities of working together for what is right. It takes leadership to recognize a wrong, begin the process of healing from a troubled history, and trust in the ability to forge a new relationship based on respect. This recognition of title by Canada – which was initiated in 1913 by our past leaders – means that we can begin a new era of peaceful co-existence knowing that we can look after Haida Gwaii and ensure the well-being of all who call these shining islands home.”

    “I congratulate the Haida Nation for their leadership on this landmark agreement. As we mark a new chapter in the history of our nation-to-nation relationship, let us also recommit to walking the path of reconciliation. Because by working together, we’re showing that meaningful progress is possible.”

    “This landmark agreement is the first of its kind in Canada. It stands as a testament to the Haida Nation’s incredible leadership and determination to reclaim what has been rightfully theirs for generations. By recognizing Aboriginal title and rights, we showcase the progress possible when Indigenous, federal, provincial, and territorial governments work together to create a just and meaningful path to reconciliation that honours the unique interests of each nation. It is my hope that this agreement sets the stage for many others and inspires young Indigenous people that reconciliation is more than words and change is possible.”

    “The signing of the Chiix̲uujin / Chaaw K̲aawgaa “Big Tide (Low Water)” Haida Title Lands Agreement is a testament to respect, responsibility, and interconnectedness between the Council of the Haida Nation and the Government of Canada. For over 30 years, the Haida Nation and Canada – through Parks Canada – have worked side by side to protect Gwaii Haanas, a place of global significance. Today’s celebration marks another step in this journey, strengthening our partnership and honouring the inherent Haida title to the beautiful lands of Haida Gwaii.”

    “Canada is an important partner in this historic reconciliation work, and I am grateful that they have now also worked alongside the Haida Nation on an agreement that recognizes Haida Aboriginal title. The provincial Gaayhllxid / Gíihlagalgang “Rising Tide” Haida Title Lands Agreement and federal Chiix̲uujin / Chaaw K̲aawgaa “Big Tide (Low Water)” Haida Title Lands Agreement work together to recognize Aboriginal title for the Haida – a profound and historic shift in our relationship. They also provide stability for all islanders on Haida Gwaii with respect to the pathway forward. This is the next step on our shared journey and the way toward a new future in Haida Gwaii.”

    Quick Facts

    • The Council of the Haida Nation (CHN) was formed as a national government in 1974, and the Constitution of the Haida Nation was formally adopted in 2003. The Constitution mandates the CHN to conduct the external affairs and steward the lands and waters of Haida Gwaii on behalf of the Haida Nation, ensuring that the Haida relationship with Haida Gwaii continues in perpetuity.
    • Haida Gwaii is located approximately 100 kilometres west of the northern coast of mainland British Columbia. It is a group of over 200 islands totalling approximately one million hectares.
    • The Haida have been on Haida Gwaii for millennia.
    • In 2021, Canada, the Haida Nation, and British Columbia signed the GayG̲ahlda / Kwah.hlahl.dáyaa “Changing Tide” Framework for Reconciliation, setting out an incremental approach to negotiating reconciliation agreements. The Nang K̲’uula / Nang K̲’úulaas Recognition Agreement is the first tripartite agreement reached under this renewed process of negotiations.
    • Through the Nang K̲’uula / Nang K̲’úulaas Recognition Agreement, Canada and British Columbia recognized the Haida Nation as the holder of inherent rights of governance and self-determination, and the CHN as the governing body of the Haida Nation.
    • On November 7, 2024, Bill S-16, An Act respecting the recognition of the Haida Nation and the Council of the Haida Nation, received royal assent.

    Associated Links

    MIL OSI Canada News

  • MIL-OSI New Zealand: Police respond to IPCA review of policing public protests

    Source: New Zealand Police (National News)

    Please attribute to Deputy Commissioner Tania Kura:

    Police acknowledges the release of a comprehensive report by the Independent Police Conduct Authority (IPCA) which looks at the policing of public protests in New Zealand and makes several significant recommendations.

    Police has worked closely with the IPCA on this review, which has arisen from complaints to the independent body following high profile protests over recent years.

    We have seen a significant change in the protest environment, aided by social media, in which these events are becoming more publicised, highly organised and, in some instances, utilising complex tactics.

    We are now often faced with these events involving protesters, counter protesters, and activists who are present for a variety of different causes.

    These changes are a global trend which is putting more pressure on police jurisdictions around the world.

    In the last two years, New Zealand Police has attended and monitored at least 140 protests across the country.

    Police is always focussed on ensuring the community has the right to protest but balancing this against upholding the law and ensuring the safety of those attending, as well as members of the public in the vicinity.

    The 2022 parliamentary protest, as well as recent rallies regarding the conflict between Israel and Palestine, highlight some of the complex issues Police is dealing with.

    Today’s report recommends several changes and Police accepts and agrees with these in principle.

    The most significant is the recommendation for a new stand-alone legislation which would put New Zealand in line with comparative jurisdictions such as Australia, the United Kingdom, and Canada.

    Any legislative reform would be led by the Minister of Justice.

    There are also recommendations regarding police policies, processes, and training in the public order policing area.

    Police is considering how best to respond to these, noting that our organisation has already undertaken a raft of changes following the parliamentary protests.

    Our progress and work in this area has been acknowledged by the IPCA in the report.

    We know our officers who work in Public Order Policing teams, as well as all officers who attend to support and police these events, do an incredible job at keeping people safe in what can be a challenging and highly emotional environment.

    We know we must continually improve and adapt to the changing environment in protests and so we look forward to seeing where this review leads us.

    There were three separate investigations into protests in Auckland which are outlined in this review, and we have responded to each of these as below.

    Investigation one:

    The IPCA investigated a high number of complaints regarding the Police response to the Let Women Speak rally held at Albert Park in March 2023.

    This event became volatile very quickly due to behaviour by counter protesters who surrounded the rotunda when the main speaker arrived.

    Police acknowledge the finding by the IPCA in relation to the protest, which says our initial risk assessment could have been better.

    We also accept that our response on the day when protestors surrounded the rotunda was inadequate.

    We do note that our staff were also dealing with a separate unrelated protest on the same day, not far from this location, alongside other operational demands which put significant pressure on officers at these time sensitive events.

    The criticism of the policing of this event was not due to the fault of any individual officer but rather learnings around undertaking a better risk assessment for any future protests, ensuring we have adequate resourcing for these unpredictable events.

    We have debriefed this matter and taken these lessons onboard.

    We also note that Police carried out an investigation following the event, and two counter-protesters were charged with assault.

    Investigation two:

    The second investigation referenced in the IPCA report relates to the arrest of a counter-protestor during a rally in support of Palestine in November 2023 at Aotea Square, Auckland.

    A man was holding an Israeli flag around 150 metres from where protesters were setting up a speaking area.

    Police told the man to leave and stay away from the event to prevent a potential breach of the peace. They told the man he would be arrested if he returned.

    The man left but returned without his flag, his face covered, and stood in Aotea Square while speeches took place.

    He was arrested and charged with intentionally obstructing a police officer acting in the execution of his duty.

    Police accept this arrest was unlawful and while the intent of the officers was to ensure the man’s safety, we accept they had no lawful basis to tell him to leave or to arrest him when he returned.

    We have spoken with the officers involved in this incident and have used this as a learning opportunity for them. 

    The charge of obstruction was withdrawn.

    Investigation three:

    During the same rally in Auckland’s CBD in November 2023, Police came across a different counter-protester who was holding a sign which they believed had the potential to incite violence.

    Police, concerned for the woman’s safety, asked her to move and put down her sign and when she failed to comply, they had to move her a short distance away and took her sign off her.

    When she continued to try and re-enter the protest they arrested her for a breach of the peace.

    The IPCA has found the use of force to move the woman away was unjustified and the arrest was unlawful.

    While Police acknowledge the IPCA’s view on this, we believe our officers were acting in the woman’s best interests to keep her safe due to their previous experience at pro-Palestine events which had turned violent very quickly.

    We do accept that she should have been given her sign back when she was released by Police. 

    The primary role of Police at these events is to ensure everyone’s safety while they protest.

    If there is a concern that someone may be harmed, Police will act within the boundaries of the law to protect all individuals present. 

    We recognise the delicate balance between a person’s right to peacefully protest and maintaining public order.

    Our officers are entrusted to make these decisions based on their knowledge and information available to them.

    ENDS

    Issued by the Police Media Centre 

    MIL OSI New Zealand News

  • MIL-OSI Canada: Statement by the Prime Minister on the passing of Antonine Maillet

    Source: Government of Canada – Prime Minister

    The Prime Minister, Justin Trudeau, today issued the following statement on the passing of Antonine Maillet:

    “It is with great sadness that I learned of the passing of Antonine Maillet, a celebrated figure in Canadian literature and an unwavering voice for the Acadian community.

    “Born in Bouctouche, New Brunswick, Ms. Maillet had a prolific career as a novelist, a playwright, and a scholar, leaving an indelible mark on Canada’s cultural landscape. Over some fifty works, she brought Acadian stories to the forefront. This included her play La Sagouine, which made her a household name, and her novel Pélagie-la-Charrette, which earned her the 1979 Prix Goncourt – making her only the sixth woman to receive this prestigious French literature award and the first non-European recipient. Ms. Maillet’s work helped foster a deeper understanding and appreciation of Acadian culture and earned her widespread recognition. She was a recipient of the Order of New Brunswick, an Officer of the National Order of Quebec, and a Companion of the Order of Canada, among many other accolades.

    “Ms. Maillet was also a translator of literary works and a passionate educator, who taught in Canada and abroad, including at the Université de Montréal and the University of California. From 1989 to 2000, she served as Chancellor of the Université de Moncton, where she further helped shine a light on Acadian culture.

    “On behalf of all Canadians, I extend my deepest condolences to Ms. Maillet’s family, her friends, and the countless people who were touched by her work. She was a beacon of Acadian pride and resilience, and I know her voice will continue to inspire generations to celebrate the stories that make Canada’s cultural tapestry so rich and diverse.”

    MIL OSI Canada News

  • MIL-Evening Report: Is Australia’s GST a tax or a tariff? And why has it become a target in the trade wars?

    Source: The Conversation (Au and NZ) – By Felicity Deane, Professor, Queensland University of Technology

    Australian beef exports to the United States are GST-free and should not be subject to any retaliatory tariff. William Edge/Shutterstock

    The latest round of proposed tariffs from US President Donald Trump includes a response to what the White House describes as “unfair” taxes – specifically, value-added taxes such as Australia’s Goods and Services Tax (GST).

    Most economically advanced countries have a value-added tax (VAT) or sales tax on consumption. This applies to domestic goods and services as well as to imports. The United States is one of the few countries that does not impose a sales tax, though many of the states impose their own sales tax.

    So the argument, according to the White House, is these taxes apply to imported goods, but not to exports.

    Is the GST a tax or a tariff?

    The GST is a broad-based consumption tax of 10%. It applies to most goods and services that are consumed in Australia, regardless of their origin.

    An import tariff – sometimes called an import duty – is imposed exclusively on imported goods as a condition of market access.

    Tariffs are not imposed on domestically produced goods at all. This is the main point of difference with a domestic consumption tax. The GST applies equally to imported and domestically produced goods, adhering to long-agreed international trade rules.

    It remains unclear how the Trump administration intends to implement a tariff that is equivalent to the 10% GST. In effect, this becomes a tax on US consumers if they buy Australian goods.




    Read more:
    What’s a trade war?


    Such an indirect tax would be regressive, which means it falls more heavily on lower-income consumers. The expansion of tariffs to include other nations’ VAT systems also represents a significant overreach into national sovereignty. It has long been accepted that sovereign nations have the right to tax their citizens and businesses as they see fit.

    Indeed, Australia’s GST is among the lowest among economically advanced nations, for which the average is 19%, so the wider impact on US consumers will be even greater.

    Goods that are exported to the US face a new round of tariffs.
    Shutterstock

    Trump is clearly (and unapologetically) seeking to reinvigorate US manufacturing. But the reality is that US labour costs are high. It is also inefficient for any country to produce all the goods and services its population requires. This is particularly the case in such a high-consumption nation as the US.

    The US has been described as a consumer of last resort
    because strong consumer demand has been filled by ever rising imports from other countries. The mutually beneficial relationship between the US and China has enabled the rise of the middle class in China. Trump’s tariffs may shift this, causing geopolitical tensions and economic instability.

    Australia’s response: pausing the digital services tax

    While these tariffs primarily harm US consumers, Australian businesses will also feel the effects. However, it is unclear to what extent. Notably, one main export to the US, unprocessed agricultural products such as beef, are GST-free and should not be subject to any retaliatory tariff.

    However, many other Australian exports could be disadvantaged. Trump’s policies will raise the cost of Australian imported goods in the US market, potentially making them less appealing to US consumers.

    The threat of these tariffs is clearly a problem for a federal government facing an impending election, and Prime Minister Anthony Albanese has so far responded cautiously. While a diplomatic approach may secure a minor concession, it’s in stark contrast to Canada’s firm stance, which included immediate threats of retaliatory measures.




    Read more:
    Whether we carve out an exemption or not, Trump’s latest tariffs will still hit Australia


    Trump’s use of tariff threats as a negotiating tactic does appear to be having the desired effect, with a potential suspension of Australia’s proposed big tech levy. This proposal would have imposed a tax on major tech firms such as Meta and Google if they did not reach a direct agreement with local media companies.

    Reports indicate the government has put this proposal on hold due to the risk of retaliatory tariffs from the US. Such a tax would likely have invoked the wrath of the US administration, with the digital services levies of Canada and France specifically referenced in the most recent White House tariff announcement.

    It is fair to say the White House statement deliberately misleads any reader into thinking that tariff percentages directly impact on trade volumes.

    This statement ignores a fundamental principle that has made international trade so appealing since World War II – and why economists have argued in support of it for hundreds of years. Countries produce and trade the goods and services at which they are efficient. Efficiency leads to lower costs which, all else being equal, means consumers are better off.

    The statement from the White House, together with Trump’s past pronouncements, demonstrate that all rules to do with international taxation and fairness have been thrown out.

    This does not appear to be the main concern, however, with Australian negotiators potentially willing to put on hold a crucial policy to ensure the long-term viability of local journalism.

    This is just the beginning. Anyone who felt some comfort and safety in the strength of our own democracy should carefully consider the overreach that is occurring through these threats.

    Felicity Deane 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. Is Australia’s GST a tax or a tariff? And why has it become a target in the trade wars? – https://theconversation.com/is-australias-gst-a-tax-or-a-tariff-and-why-has-it-become-a-target-in-the-trade-wars-250041

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI United Nations: Committee on the Elimination of All Forms of Discrimination against Women Holds Half-Day General Discussion on Gender Stereotypes

    Source: United Nations – Geneva

    The Committee on the Elimination of Discrimination against Women today held a half-day general discussion on its proposed general recommendation on gender stereotypes.

    In opening remarks, Nahla Haidar, Committee Chairperson, said gender stereotypes created false beliefs, inhibitive gender roles and discrimination. The Committee hoped to prepare guidelines that would help States to address these stereotypes, and counter myths and common excuses as to why gender stereotypes continued to be perpetuated, such as cultural and religious reasons.

    Peggy Hicks, Director, Thematic Engagement, Special Procedures and Right to Development Division, United Nations Office of the High Commissioner for Human Rights, said in introductory remarks that the general recommendation would provide guidance on State obligations to address gender stereotypes as root causes of gender-based discrimination.  She expressed hope that it would strengthen standards, principles and guidance to eliminate all forms of gender stereotypes.

    In her introductory remarks, Natalia Kanem, Executive Director, United Nations Population Fund, said that currently, around the world, there were immense pushbacks against women and girls in all their diversity.  In this uncertain moment, all parties needed to stand with women and engage actively in developing this general recommendation.  The work of the Committee saved and transformed lives; it needed to continue.

    Nyaradzayi Gumbonzvanda, Deputy Executive Director, United Nations Women, said gender stereotypes were barriers to the human rights of women and girls.  They restricted education, jobs, leadership, health and justice, fuelling inequality and violence, silencing women and denying freedoms.  General recommendation 41 presented a decisive opportunity to dismantle gender stereotypes at their core.

    Bandana Rana and Rhoda Reddock, Committee Experts and Co-Chairs of the Committee Working Group on gender stereotypes, also made introductory statements, calling on all stakeholders to support and provide input for the general recommendation.

    After the introductory remarks, the Committee held a panel discussion on gender stereotypes, hearing presentations from Adriana Quinones, Head, Human Rights and Development, United Nations Women; Joni van de Sand, Global MenEngage Alliance; Paola Daher, Women Deliver; Alexandra Xanthaki, United Nations Special Rapporteur in the field of cultural rights; and Marwa Sharafeldin, Musawah.

    Following the panel discussion, States parties, United Nations agencies, and civil society representatives delivered oral statements. Speaking were Malta, Andorra, Poland, Canada, Vanuatu, Cyprus, Japan, Chile, Maldives, Ukraine, Austria, Azerbaijan, United Arab Emirates, Mexico, Bulgaria, Israel, Venezuela, Bolivia, Spain, United Nations Educational, Scientific and Cultural Organization and Nepal.

    Also speaking were Consortium for Intersectional Justice, Observatorio Iberoamericano Contra la Violencia de Género, Duch Cedaw Network, WILPF, Center for Reproductive Rights, European Network of Migrant Women, Tania Sordo Ruz, Nordic Model Now, and Ilga World.

    The Committee on the Elimination of Discrimination against Women’s ninetieth session is being held from 3 to 21 February.  All documents relating to the Committee’s work, including reports submitted by States parties, can be found on the session’s webpage.  Meeting summary releases can be found here.  The webcast of the Committee’s public meetings can be accessed via the UN Web TV webpage.

    The Committee will next meet at 5 p.m. on Friday, 21 February to close its ninetieth session.

    Introductory Remarks

    NAHLA HAIDAR, Committee Chair, welcomed all participants to the meeting.  She said that the Committee was mandated to issue recommendations to States parties and provide guidance on themes related to women’s rights.  The discussions to be held today would focus on the Committee’s proposed general recommendation on general stereotypes, which the Committee urged all stakeholders to support.  Gender stereotypes created false beliefs, inhibitive gender roles and discrimination.  Measures needed to be implemented to combat them.  The Committee hoped to prepare guidelines that would help States to address these stereotypes, and counter myths and common excuses as to why gender stereotypes continued to be perpetuated, such as cultural and religious reasons.

    PEGGY HICKS, Director, Thematic Engagement, Special Procedures and Right to Development Division, United Nations Office of the High Commissioner for Human Rights, said she could not think of a timelier topic.  The general recommendation on gender stereotypes would provide guidance on State obligations to address these stereotypes as root causes of gender-based discrimination.  She expressed hope that it would strengthen standards, principles and guidance to eliminate all forms of gender stereotypes.

    Gender stereotypes were justified under the banners of “tradition,” “culture,” “religion” or even “nature.”  They often stemmed from patriarchal systems that tolerated or affirmed unequal power relations, based on the idea that women were inferior to men.  Discriminatory practices against women and girls needed to be eliminated, regardless of their origins, including those perpetuated in the name of culture or religion.

    The impacts of gender stereotyping began in the family and were apparent in every aspect of the lives of women and girls.  Gender stereotyping normalised violence against women and girls, politicised their reproductive functions, and denied them equal participation in political life and economic opportunities.  Women who did not conform to gender stereotypes or who openly contested them were particularly exposed to discrimination, violence and criminalisation.  

    It was crucial to address stereotypes that manifested first in the family and were then perpetuated in education systems and all aspects of society, including virtual spaces.  Transforming education systems to eliminate gender stereotypes was essential; human rights-based education was a powerful tool to dispel stereotypes.

    The discussion would address the unique vulnerabilities faced by women and girls who experienced combined stereotypes based on gender and other grounds, such as ethnicity, socioeconomic status, disability and age.  The general recommendation needed to address how to rectify the impact of intersecting forms of stereotypes, resulting discriminations and corresponding State obligations.

    Gender stereotypes trapped men and boys, conditioning them to embrace harmful ideas of masculinity.  Men and boys needed to challenge unequal power relations and structures, recognising how patriarchy privileged them and how gender equality liberated all.  Combatting gender stereotypes demanded a comprehensive approach involving the transformation of laws, policies and societal structures.  

    The general recommendation would enable States parties to change and transform gender stereotypes, paving the way for the full realisation of all human rights for all women and girls.  The Office of the High Commissioner for Human Rights was ready to support this work.  It had concrete analytical tools and the mandate and expertise to monitor these issues, provide technical assistance, and build the capacity of key stakeholders.

    NATALIA KANEM, Executive Director, United Nations Population Fund, said it was currently a moment of grave import for the rights of women and girls. Around the world, there were immense pushbacks against women and girls in all their diversity.  Fierce opposition was threatening progress on several fronts.  It was welcome that maternal mortality had dropped by a third, and more than 160 countries had passed laws to address domestic violence. 

    However, the United Nations Population Fund regularly heard stories like those of Amena’s, who had been informed at age 13 by her parents that she was to be married.  The Fund had helped Amena to stand up for her rights and she was able to return to school.

    Gender stereotypes perpetuated stigma and shame around girls’ sexuality, and they posed significant risks to economic and social stability, contributing to the gender wage gap. Poverty often wore the face of a woman. Stereotypes also often led to gender-based violence, particularly online.  Discrimination severely limited the participation of women and girls in the digital space.  The ripple effects of these stereotypes drove political polarisation, fractured communities and exacerbated inequality.  They contributed to a world where progress and peace were illusive. 

    Gender discrimination was compounded by factors such as age, race and disability status.  The Fund was training healthcare workers to provide non-judgemental care for women, so women could make informed choices about their bodies and lives.

    Gender stereotypes were perpetuated in all segments of society.  The Fund was empowering girls to become leaders and was working to create a digital world that was safe and accessible for everyone.  It was also working with boys and men to ensure that they were not trapped by gender stereotypes.  It would continue to support policies and programmes that aimed to address harmful social norms.  The Committee needed to formulate processes that would give women their own money, self-agency and bodily autonomy.

    In this uncertain moment, all parties needed to stand with women.  All stakeholders needed to engage actively in developing this general recommendation.  This was not the time to roll back the clock on women’s rights.  The work of the Committee saved and transformed lives. It needed to continue.

    NYARADZAYI GUMBONZVANDA, Deputy Executive Director, United Nations Women, said United Nations Women was proud to support general recommendation 41.  Gender stereotypes were barriers to the human rights of women and girls.  They restricted education, jobs, leadership, health and justice, fuelling inequality and violence, silencing women and denying freedoms.  

    Gender stereotypes’ impact was clear in politics, where women faced double standards, exclusion and relentless scrutiny.  They also fuelled violence and impunity, with women and girls too often being valued first as wives and daughters, and not as full human beings with rights.  Stereotypes further dictated economic power, with women being denied inheritance rights.

    United Nations Women commended its Member States for adopting strong regional frameworks to combat gender-based violence and discrimination, including the Belem do Para Convention, the Istanbul Convention, and the African Union Convention on Ending Violence against Women.  Commitments needed to translate into action.  Lifting reservations to the Convention, which weakened protections and kept barriers in place, was urgent.

    General recommendation 41 presented a decisive opportunity to dismantle gender stereotypes at their core.  The year 2025 marked 30 years since the Beijing Declaration and Platform for Action.  It was also the final stretch toward the expiration date of the Sustainable Development Goals, which pledged to end harmful practices against women and girls. General recommendation 41 was a critical tool for transformation that needed to be acted on immediately.

    BANDANA RANA, Committee Expert and Co-Chair of the Committee Working Group on Gender Stereotypes, said the Committee, at its eighty-fourth session, had agreed to start the elaboration of a general recommendation on gender stereotypes.  Harmful gender stereotypes were one of the biggest stumbling blocks to gender equality.  They contributed to unequal representation in workplaces and policies, and contributed to gender-based violence. 

    The Convention called on States to challenge traditional norms that limited women’s’ representation in all areas of society.  The general recommendation would dismantle discriminatory stereotypes and provide guidance on addressing these stereotypes and creating a more just society.  Together, they could create more equitable societies, as envisioned by the Sustainable Development Goals.  Ms. Rana called on all stakeholders to actively contribute to the general recommendation, dismantle gender stereotypes, and build a future where everyone could thrive without barriers.

    RHODA REDDOCK, Committee Expert and Co-Chair of the Committee Working Group on Gender Stereotypes, said gender stereotypes were based on ideas, attitudes, belief systems and patriarchal structures that existed in all societies.  They reflected the notion of women being inferior to men. The Convention called on all States parties to modify social patterns and cultural practices that were based on stereotyped roles of men and women.  Stereotypes often changed, and new ones were regularly created.  Women’s structured inferiority moved with them to all activities where they predominated.  This issue was central to the equal valuing of women and men.  Ms. Reddock called on all stakeholders for support as the Committee developed the general recommendation.

    Summary of Statements by Panellists

    After the introductory remarks, the Committee held a panel discussion on gender stereotypes, hearing presentations from Adriana Quinones, Head, Human Rights and Development, United Nations Women; Joni van de Sand, Global MenEngage Alliance; Paola Daher, Women Deliver; Alexandra Xanthaki, United Nations Special Rapporteur in the field of cultural rights; and Marwa Sharafeldin, Musawah.

    Many speakers expressed concern that currently, women’s rights were under threat from those with immense power.  There was a mounting backlash against diversity, inclusion and lesbian, gay, bisexual, transgender and intersex rights, and new policies and platforms for discrimination were emerging.  Stereotypes between men and women were becoming more apparent and legitimised.

    Speakers said gender stereotypes were key pillars of patriarchal domination and power. They did not emerge in a vacuum; they were used to determine roles and behaviours that conformed to power relations, and they became stubbornly resistant over time.  They had a negative impact on the full realisation of the rights of women and girls, including their rights to work, education, and sexual and reproductive health.  Persons who challenged traditional notions of the family faced discrimination.  Gender stereotypes often intersected with stereotypes related to race, class and other aspects. 

    Speakers expressed national measures implemented to address gender stereotypes and promote gender mainstreaming, and offered the Committee support in addressing gender stereotypes.

    One speaker said an increasing number of young men in the world thought that gender equality had gone too far.  Transforming stereotypes against men was crucial in advancing gender equality.  A key strategy in this regard was to promote masculinity rooted in concepts of care and environmental protection, they said. The general recommendation needed to elaborate on how transforming gender stereotypes was relevant to men and masculinities.

    Another speaker said the Committee needed to recognise that stereotypes were not perpetuated by the abstract concept of “culture”.  The general recommendation needed to recognise that women’s rights and agency came from culture.  The general recommendation needed to recognise that it was how culture was being used by elites that made it harmful. 

    The rights enshrined in the Convention belonged to all women, including lesbian, bisexual, transgender and intersex women, one speaker said.  Womanhood needed to be recognised through self-identification.  The Committee needed to continue to eradicate stereotypes in international law regarding the definition of a woman.

    One speaker said that religion, law and the family were fields where transformative change was possible to dismantle gender stereotypes.  Religion was a source of law and it affected social norms and stereotypes.  There was patriarchal religious discourse and religious discourse that promoted gender equality.  States needed to make a choice about the religious discourse used in law and practice. The speaker noted efforts to combat gender stereotypes by changing interpretations of religious texts. 

    Several speakers gave recommendations regarding the content of the general recommendation.  One speaker said it needed to have a multi-layered institutional approach that was cognisant of power relations, while another called for the general recommendation’s scope to be expanded to promote counter narratives to gender stereotypes.  Another recommendation was for full effective and meaningful participation of women and girls to be captured in the general recommendation.

    Panel Discussion

    Representatives of States, United Nations agencies and civil society then took the floor, with speakers, among other things, expressing support for the elaboration of a general recommendation on gender stereotypes that would contribute to eliminating gender stereotypes and their adverse effects on women and girls, and to promoting the rights of all women and girls.

    Many speakers said gender stereotypes impeded the participation of women in all areas of public and private life and subconsciously affected how all behaved.  Stereotypes led to the subordination of women and girls, wage gaps, discrimination and gender-based violence.  They limited the potential of women globally and progress toward Sustainable Development Goal Five.  Women and girls continued to bear the brunt of conflict and climate change.  States had a responsibility to combat these stereotypes.

    Speakers said that in many countries, there was a pushback against feminism, which was misinforming the public and slowing progress. It was imperative to prevent backsliding.  In this context, the United Nations and other international bodies needed to expand, not restrict, definitions of gender, one speaker said.

    Some speakers said that in the digital world, harmful messaging and sexist discourse were affecting women and girls.  Online pornography and prostitution promoted violence against women and perpetuated stereotypes, while online hate speech reinforced gender stereotypes, silenced women’s voices, and limited their political participation.  The Committee needed to examine how gender stereotypes permeated online discourse. Some speakers said that artificial intelligence was perpetuating and amplifying harmful gender stereotypes against women.  Measures needed to be implemented to eliminate gender biases in artificial intelligence.  One speaker called for the promotion of women’s participation in the technological sector.

    Speakers expressed support for the elimination of all harmful stereotypes against women and girls.  All parties needed to cooperate to build a fair and equitable society for women and girls.  Governments needed to recognise the crucial role of civil society organizations in protecting women’s rights and countering stereotypes.  Stereotypes needed to be recognised and countered.  Stakeholders needed to reshape restrictive masculinities and reinforce positive gender norms.  International regional frameworks, including the Convention, needed to be implemented to build a more prosperous future for all.  Encouraging social awareness of stereotypes was crucial in combatting discrimination and promoting equality.

    Some speakers said gender stereotypes were cross-cutting, affecting various marginalised groups.  Intersectionality was a necessary lens for addressing gender stereotypes.  Speakers also called on the Committee to adopt a decolonial approach and embrace indigenous approaches to women’s rights, and consider the rights of lesbian, bisexual, transgender and intersex women and girls.  One speaker said the Committee needed to oppose the patriarchy and contribute to dismantling it.

    The Committee needed to elaborate on biases in gender-based roles and their impact on society, one speaker said.  Another speaker called for the general recommendation to consider the link between stereotypes and women’s unpaid care work. The Committee needed to note the importance of awareness raising campaigns in breaking down stereotypes. One speaker said the general recommendation needed to challenge how gender stereotypes influenced security systems.

    Some speakers said the general recommendation needed to consider the cultural sensitivities of all States parties. Actions and decisions needed to align with States’ unique customs, they said.  One speaker called on the Committee to reflect on the positive influences of culture and religion on promoting women’s rights.

    Speakers presented legislative and policy initiatives to counter gender stereotypes and address intersectional discrimination; promote women’s participation in the workforce, political bodies and education, including in science, technology, engineering and maths education; revise textbooks to remove gender stereotypes; promote the access of women and girls to health and reproductive rights; combat human trafficking; repeal discriminatory laws; collect data on the prevalence of gender discrimination; promote the use of parental leave and the participation of men in care work; and empower vulnerable women.

    One speaker asked the Committee whether the general recommendation would consider the connection between unilateral coercive measures and gender stereotypes.

    Closing Remarks

    ANTTI KORKEAKIVI, Chief, Human Rights Treaties Branch, United Nations Office of the High Commissioner for Human Rights, expressed gratitude to all speakers for their invaluable contributions.  The dialogue had demonstrated how deeply gender stereotypes affected women and girls in all aspects of life.  The general recommendation had the potential to dismantle gender stereotypes and help women and girls to realise their potential.  The inputs of all stakeholders would inform the Committee’s efforts to elaborate the general recommendation.  The Office of the High Commissioner for Human Rights looked forward to the positive impact that the general recommendation would have on the lives of women and girls globally.

    NAHLA HAIDAR, Committee Chair, said all stakeholders’ inputs had been very valuable.  This general recommendation needed to ensure that no one was excluded from protection. The Committee would consider the Convention’s perspective on intersectionality, which was captured in the Committee’s general recommendation 28.  The current general recommendation needed to meet the requirements of women and girls all over the world.  Speakers had expressed a diversity of views on the subject, and the Committee would consider all these views.  In closing, Ms. Haidar thanked all speakers that had participated in the meeting, including more than 40 States parties.

    ___________

    CEDAW.25.052E

    Produced by the United Nations Information Service in Geneva for use of the information media; not an official record.

    English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

    MIL OSI United Nations News

  • MIL-OSI Security: North Battleford — Saskatchewan RCMP lay 64 charges against 3 in bank robbery and string of ATM thefts

    Source: Royal Canadian Mounted Police

    North Battleford RCMP’s Provincial General Investigation Section (GIS) have laid 64 charges against three people in connection to a Landis bank robbery on November 22, 2024, as well as a string of ATM thefts, and attempted thefts, that took place across South and Central Saskatchewan between November 22, 2024 and January 1, 2025.

    RCMP Provincial GIS’ investigation included widespread coordination across many front-line detachments, police units and Crime Stoppers, to connect incidents reported in the communities of: Dodsland, Rosetown, Gull Lake, Lemberg, Wolseley, Craven, Neilburg, Marshall, Battleford, Purdue, and Mosquito, Grizzly Bear’s Head, Lean Man First Nation. “Complex investigations like this involve extensive resources and large-scale coordination across multiple detachment areas. The sheer number of crimes solved in this investigation really highlights the successful collaboration between support units of the RCMP and front-line officers,” says Sgt. Adam Buckingham, Officer in Charge, North Battleford Provincial GIS.

    RCMP-coordinated efforts led police to a residence in Biggar, where officers with North Battleford Provincial GIS, Crime Reduction Team (CRT) and Biggar Detachment, executed a search warrant on February 5, 2025. At the residence, officers located and seized items believed to be connected to the ATM occurrences and Landis bank robbery. As a result of investigation 36-year old Sheena Benoit and 33-year old Joshua Meszaros were arrested at the time of the search.

    As a result of further investigation, Sheena Benoit (AKA: Sheena Harrabek) faces 16 charges including:

    • three counts, break and enter and commit an offence, Section 348(1)(b), Criminal Code;
    • one count, theft over $5000, Section 334(a), Criminal Code;
    • six counts, theft under $5000, Section 334(b), Criminal Code;
    • six counts, mischief damage to property of a value over $5000, Section 430(3), Criminal Code.

    Joshua Meszaros faces 24 charges including:

    • three counts, break and enter and commit an offence, Section 348(1)(b), Criminal Code;
    • one count, break and enter with intent to commit an offence, Section 348(1)(a), Criminal Code;
    • seven counts, disguised with intent to commit an offence, Section 351(2), Criminal Code;
    • one count, theft over $5000, Section 334(a), Criminal Code;
    • six counts, theft under $5000, Section 334(b), Criminal Code;
    • five counts, mischief/damage to property of a value over $5000, Section 430(3), Criminal Code;
    • one count, mischief/damage to property of a value under $5000, Section 430(4), Criminal Code.

    A third suspect, 48-year-old Jeremy Seery of Rosetown was arrested on February 12, 2025 and faces 24 charges including:

    • one count, break and enter and commit an offence, Section 348(1)(b), Criminal Code;
    • two counts, break and enter with intent to commit an offence, Section 348(1)(a);
    • one count, robbery with other offensive weapon, Section 344, Criminal Code;
    • seven counts, disguised with intent to commit an offence, Section 351(2), Criminal Code;
    • one count, theft over $5000, Section 334(a), Criminal Code;
    • six counts, theft under $5000, Section 334(b), Criminal Code;
    • six counts, mischief/damage to property of a value over $5000, Section 430(3), Criminal Code.

    Joshua Meszaros and Sheena Benoit are scheduled to appear in North Battleford Provincial Court on April 7, 2025 at 2:00 p.m.

    Jeremy Seery is scheduled to appear in North Battleford Provincial Court on April 14, 2025 at 9:30 a.m.

    If have information about these or any other crime, contact Saskatchewan RCMP at 310-RCMP. Information can also be submitted anonymously by contacting Saskatchewan Crime Stoppers at 1-800-222-TIPS (8477) or www.saskcrimestoppers.com.

    MIL Security OSI

  • MIL-OSI Security: Stephenville — Bay St. George RCMP investigates vehicle arson in Piccadilly, seeks public’s assistance

    Source: Royal Canadian Mounted Police

    Bay St. George RCMP is investigating an arson that occurred in Piccadilly shorty after midnight today, February 17, 2025.

    Shortly after 12:30 a.m. on Monday, Bay St. George RCMP were called to the parking lot of the Our Lady of Fatima Catholic church on the Main Road in Piccadilly where a truck was on fire. Firefighters attended the scene and extinguished the blaze, which completely destroyed the vehicle. Evidence gathered at the scene suggests that the fire was intentionally set. A set of footprints was observed in the snow that led from the vehicle and continued into a wooded area behind the church. The footprints eventually led back onto the Main Road where it is believed the suspect was picked up by a motorist.

    The investigation is continuing.

    Bay St. George RCMP asks area residents to check for any possible surveillance footage and to report any suspicious activities around the time of the arson. Anyone having knowledge of this crime is asked to contact Bay St. George RCMP at 709-643-2118. To remain anonymous, contact Crime Stoppers: #SayItHere 1-800-222-TIPS (8477), visit www.nlcrimestoppers.com or use the P3Tips app.

    MIL Security OSI

  • MIL-OSI Security: Happy Valley-Goose Bay — Happy Valley-Goose Bay RCMP investigates two break and enters, seeks public assistance

    Source: Royal Canadian Mounted Police

    Happy Valley-Goose Bay RCMP is investigating an attempted break and enter and a successful break and enter that occurred on Thursday, February 6, 2025.

    At approximately 3:40 a.m., an individual attempted to break into a refrigerated Sea-Can that was situated on the property of Terrington COOP on Abbott Drive in Happy Valley-Goose Bay. The suspect, pictured below, broke the pad lock and damaged the latch but did not gain entry.

    Sometime overnight the same night, suspect(s) forced entry into National Safety Equipment on Hamilton River Road, near Terrington COOP. More than 40 pairs of Timberland and Acton work boots of various sizes, with a combined value of approximately $14,000, were stolen from inside.

    The investigations are continuing.

    Anyone having information about either of these crimes, the person(s) responsible or the current location of the stolen property, is asked to contact Happy Valley-Goose Bay RCMP at 709-896-3383. To remain anonymous, contact Crime Stoppers: #SayItHere 1-800-222-TIPS (8477), visit www.nlcrimestoppers.com or use the P3Tips app.

    MIL Security OSI

  • MIL-OSI Global: Feel like you’re in a funk? Here’s what you can do to get out of it – and how you can prevent it from happening in the future

    Source: The Conversation – UK – By Jolanta Burke, Senior Lecturer, Centre for Positive Health Sciences, RCSI University of Medicine and Health Sciences

    Whatever the reason, there are many things you can do to get out of a funk. Vectorium/ Shutterstock

    Are you feeling worn out? Struggling with lingering sadness, anxiety or feelings of indifference? If so, you might be stuck in a funk.

    There are many reasons you might find yourself in a funk – including returning home after a holiday, not being sure what your goals in life are and a lack of meaning and purpose driving you forward. Sometimes, there’s no clear reason why we find ourselves in a funk.

    Whatever the cause, don’t lose hope. There are many things you can do to turn the way you’re feeling around.


    Ready to make a change? The Quarter Life Glow-up is a new, six-week newsletter course from The Conversation’s UK and Canada editions.

    Every week, we’ll bring you research-backed advice and tools to help improve your relationships, your career, your free time and your mental health – no supplements or skincare required. Sign up here to start your glow-up at any time.


    1. Express yourself

    As obvious as it sounds, one of the best ways to get out of a funk is exploring the reasons you’re feeling this way.

    Try writing down your deepest thoughts and feelings without judgement – no matter how disjointed they are. Or, grab a paintbrush, spray paint, pencil or chalk and express your emotions through art. You might even choose to dance, letting your movements convey what you’re feeling and help you get to the root of your funk.

    Whatever form of self-expression works for you, all that matters is getting your feelings out. This will help you make sense of what’s causing your funk, and may make it easier to overcome.

    2. Remember the good times

    When we’re in a funk, we’re often overwhelmed by feelings of sadness or indifference. It can be hard to reduce these negative emotions – especially since negative feelings serve a purpose, by helping us understand what’s going on inside.

    Instead of trying to banish bad feelings, try instead to layer positive emotions on top of them. This may help balance your emotions out.

    You can do this by closing your eyes and savouring a happy moment from the past when you felt alive, vibrant and fulfilled. Use every sense as you relive those joyful memories.

    3. Connect with someone

    Research shows the most fulfilled people don’t bury themselves in their thoughts when feeling down. Instead, they look outward – engaging with others and their surroundings.

    So when you’re in a funk, try finding ways of connecting, even briefly, with the people around you. Even a simple conversation with a stranger might lift your spirits.

    Or take it a step further if you can and do something kind for someone – or try volunteering. This may help break you out of your low mood by giving you a sense of fulfilment?

    4. Heal in nature

    Nature is shown to improve wellbeing in many ways – such as lowering blood pressure, refreshing your mind and reminding you that you’re part of something larger than yourself.

    A walk in the park may have many benefits for your wellbeing.
    GoodStudio/ Shutterstock

    If you’ve been feeling down, try going for a walk in the park or find a quiet place to stop on a hike. Lift your head to the sky, listen for the birds singing, immerse yourself in the foliage and let the sound of water wash over you. All of these things are linked with better mental health.

    Preventing a funk

    Doing any of these activities even just once can make a difference to the way your feeling. The more often you do them, the better.

    And once you’ve broken out of your funk, there are things you can do to avoid slipping into one in the future.

    1. Build resilience

    Resilience isn’t just about bouncing back. It’s more about finding the right resources to help you get out of a funk – and knowing how to use these resources effectively.

    For example, if connecting with your friends helps boost your wellbeing, this would be considered one of your “resources” that can help break you out of a funk. Of course, schedules can get in the way, so you’ll need to to find a time that works best for everyone.

    This is what resilience is all about. Identifying your go-to resources for preventing those low feelings can help you create a ready-made toolkit to draw from whenever you feel a funk coming on. To build your tool-kit, think about the things that made the biggest difference in pulling you out of a funk the last time.

    2. Cultivate hope

    Hope isn’t just wishful thinking. It’s about cultivating the will to keep moving forward and finding a way to get there. It’s a pathway to a better life, keeping us focused on growth.

    But one of the challenges in building hope is the lack of a clear vision of where we want to be. To overcome this, take some time to imagine your best-case scenario – what your life would look like ten years from now if everything you’ve ever hoped for came true.

    Spend 20 minutes writing it down. Don’t stop to worry about spelling or grammar (this is just for you). Repeat this exercise as often as needed to create your ideal future.

    When you’re finished, write down how you can achieve what you hope for. Having a well-defined vision of your best possible self can help keep you motivated and prevent you from feeling stuck – and will also give you a reserve of hope to draw upon when facing hard times.

    3. Practise self-acceptance

    Most importantly, focus on practising self-acceptance. Everyone experiences rough patches, so don’t be hard on yourself for being in a funk — it’s just a temporary state.

    Embrace where you are and accept yourself fully, regardless of your current situation. And remember that self-acceptance doesn’t mean resignation. It’s about acknowledging, “It’s okay to be me,” while also envisioning how you want “me” to evolve in the future. With this mindset, you can work towards becoming the person you aspire to be.

    Unlike trees, which are rooted in place, we have the flexibility to grow and change. Remember this the next time you start feeling stuck.

    Jolanta Burke 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. Feel like you’re in a funk? Here’s what you can do to get out of it – and how you can prevent it from happening in the future – https://theconversation.com/feel-like-youre-in-a-funk-heres-what-you-can-do-to-get-out-of-it-and-how-you-can-prevent-it-from-happening-in-the-future-235986

    MIL OSI – Global Reports

  • MIL-OSI Security: Tisdale — Tisdale RCMP: three arrested after fleeing from police

    Source: Royal Canadian Mounted Police

    On February 11, 2025 at approximately 4:55 p.m., Tisdale RCMP received a report of an intoxicated driver on Main Street in Tisdale, SK.

    Officers responded and located the suspect vehicle, which was exiting a parking lot in Tisdale, SK. Officers activated their emergency equipment and initiated a traffic stop, but the vehicle fled at a high rate of speed. Officers followed the vehicle.

    The suspect vehicle exited town and turned down a dead-end grid road. At the end of the road, the suspect vehicle slid into the ditch and became stuck in a field. The vehicle occupants exited the vehicle. An adult female was arrested at the scene while two males fled on foot into a nearby treed area.

    As a result of continued investigation and searches by Tisdale RCMP, Melfort RCMP, and Saskatchewan RCMP’s Police Dog Services, two adult males were located and arrested later that same day. One of the adult males was taken to hospital by EMS with weather-related injuries.

    Charges have not been laid at this time. Tisdale RCMP continue to investigate.

    MIL Security OSI