Category: coronavirus

  • MIL-OSI: HighPeak Energy, Inc. Announces First Quarter 2025 Financial and Operating Results

    Source: GlobeNewswire (MIL-OSI)

    FORT WORTH, Texas, May 12, 2025 (GLOBE NEWSWIRE) — HighPeak Energy, Inc. (“HighPeak” or the “Company”) (NASDAQ: HPK) today announced financial and operating results for the quarter ended March 31, 2025, provided an updated 2025 development outlook and increased production guidance.

    First Quarter 2025 Highlights

    • Sales volumes averaged approximately 53.1 thousand barrels of crude oil equivalent per day (“MBoe/d”), representing a 6% increase from the fourth quarter 2024.
    • Net income was $36.3 million, or $0.26 per diluted share and EBITDAX (a non-GAAP financial measure defined and reconciled below) was $197.3 million, or $1.40 per diluted share. First quarter 2025 adjusted net income (a non-GAAP financial measure defined and reconciled below) was $42.7 million, or $0.31 per diluted share.
    • Lease operating expenses averaged $6.61 per Boe, excluding workover expenses, representing a 3% decrease compared to the fourth quarter 2024.
    • Generated free cash flow (a non-GAAP financial measure defined and reconciled below) of $10.7 million, reduced long-term debt by $30 million and paid $0.04 per share in dividends.
    • Realized increased drilling and completion efficiency gains, which translated to drilling and completing four additional wells during the first quarter.

    Recent Events

    • Narrowed 2025 production guidance range and increased the midpoint.
    • On May 12, 2025, the Company’s Board of Directors declared a quarterly dividend of $0.04 per common share outstanding payable in June 2025.

    Statement from Jack Hightower, Chairman and CEO:

    In March, we discussed our four pillars of success for 2025 which include: 1) improving corporate efficiency, 2) maintaining capital discipline, 3) optimizing our capital structure, and 4) delivering shareholder value. I would like to take this opportunity to update our shareholders on where we stand and the progress we have made to date.

    Improving Corporate Efficiency
    HighPeak delivered another strong quarter of results, beating production guidance and consensus estimates, while also realizing higher levels of operating efficiencies in our development program. We drilled over 25% faster than our previous expectations, which translated to drilling and completing four additional wells during the first quarter. We are running smoother and more efficiently than ever before, while continuing to keep development costs in line with internal expectations.

    Maintaining Capital Discipline
    Due to the global economic uncertainty and its impact on oil prices, we have moderated our development program by laying down one rig for four months, May through August. Despite the pause, we remain on track to drill and complete the same number of wells in our 2025 guidance because of the gains made through operational efficiencies.

    As detailed on our March conference call, the majority of our 2025 infrastructure capex was first-quarter weighted. Factoring in drilling and completing four additional wells, we accomplished an outsized portion of our planned annual development activity during the first quarter. Going forward, we expect our quarterly capital expenditures to be materially lower and the total for the year to fall within our 2025 guided capex range. Although our operations are running much more efficiently, this is not the proper time to accelerate development activity from our original plan. Additionally, we have complete flexibility from a land and operations perspective to reduce the budget and leave a rig down for longer than the current plan if conditions warrant.

    Optimizing our Capital Structure
    We remain committed to optimizing our capital structure and remain poised to execute our plan once the market has stabilized. We are in a healthy financial position with no near-term debt maturities and are taking proactive steps to keep our balance sheet strong as we navigate this turbulent market.

    Shareholder Value
    Given the current global macro-economic backdrop, this is a time to remain nimble and prudent, which our high-quality asset base allows. As large owners of the Company, management is fully aligned with shareholders and has a long-term outlook on value creation. While markets may be volatile, it is important to remember the fundamental value of our asset base is still strong.

    First Quarter 2025 Operational Update

    HighPeak’s sales volumes during the first quarter of 2025 averaged 53.1 MBoe/d, a six percent increase over the fourth quarter 2024. First quarter sales volumes consisted of approximately 72% crude oil and 86% liquids.

    The Company averaged two drilling rigs and one frac crew during the first quarter, drilled 16 gross (16.0 net) horizontal wells and turned-in-line 13 gross (12.9 net) producing wells. On March 31, 2025, the Company had 28 gross (28.0 net) horizontal wells in various stages of drilling and completion.

    The Company updated its 2025 production guidance range to 48,000 – 50,500 Boe/d.

    HighPeak President, Michael Hollis, commented, “Our strong first quarter production is allowing us to narrow our guided range and increase the midpoint. This speaks to our strong well performance and the high quality of our long lived oily inventory. As seen in the last few commodity price cycles, HighPeak is realizing deflationary cost pressures on both the capex and opex fronts. With our increased operational efficiency, we are doing more with less and at a lower overall cost.”

    First Quarter 2025 Financial Results

    HighPeak reported net income of $36.3 million for the first quarter of 2025, or $0.26 per diluted share, and EBITDAX of $197.3 million, or $1.40 per diluted share. HighPeak reported adjusted net income of $42.7 million for the first quarter of 2025, or $0.31 per diluted share.

    First quarter average realized prices were $71.64 per Bbl of crude oil, $24.21 per Bbl of NGL and $2.34 per Mcf of natural gas, resulting in an overall realized price of $53.84 per Boe, or 75% of the weighted average of NYMEX crude oil prices, excluding the effects of derivatives. HighPeak’s cash costs for the first quarter were $11.94 per Boe, including lease operating expenses of $6.61 per Boe, workover expenses of $0.83 per Boe, production and ad valorem taxes of $3.17 per Boe and G&A expenses of $1.33 per Boe. As a result, the Company’s unhedged EBITDAX per Boe was $41.90 per Boe, or 78% of the overall realized price per Boe for the quarter, excluding the effects of derivatives.

    HighPeak’s first quarter 2025 capital expenditures to drill, complete, equip, provide facilities and for infrastructure were $179.8 million.

    Hedging

    Crude oil. As of March 31, 2025, HighPeak had the following outstanding crude oil derivative instruments and the weighted average crude oil prices and premiums payable per Bbl:

                          Swaps     Collars, Enhanced Collars
    & Deferred
    Premium Puts
     
    Settlement
    Month
      Settlement
    Year
      Type of
    Contract
      Bbls
    Per
    Day
      Index   Price per
    Bbl
        Floor or
    Strike
    Price per
    Bbl
        Ceiling
    Price per
    Bbl
        Deferred
    Premium
    Payable
    per Bbl
     
    Crude Oil:                                                  
    Apr – Jun   2025   Swap     5,500   WTI Cushing   $ 76.37     $     $     $  
    Apr – Jun   2025   Collar     7,989   WTI Cushing   $     $ 64.38     $ 88.55     $ 2.00  
    Apr – Jun   2025   Put     9,000   WTI Cushing   $     $ 65.78     $     $ 5.00  
    Jul – Sep   2025   Swap     3,000   WTI Cushing   $ 75.85     $     $     $  
    Jul – Sep   2025   Collar     7,000   WTI Cushing   $     $ 65.00     $ 90.08     $ 2.28  
    Jul – Sep   2025   Put     9,000   WTI Cushing   $     $ 65.78     $     $ 5.00  
    Oct – Dec   2025   Collar     5,000   WTI Cushing   $     $ 60.00     $ 72.80     $  
    Jan – Mar   2026   Collar     5,000   WTI Cushing   $     $ 60.00     $ 72.80     $  
     

    The Company’s crude oil derivative contracts detailed above are based on reported settlement prices on the New York Mercantile Exchange for West Texas Intermediate pricing.

    Natural gas. As of March 31, 2025, the Company had the following outstanding natural gas derivative instruments and the weighted average natural gas prices payable per MMBtu.

    Settlement Month   Settlement
    Year
      Type of
    Contract
      MMBtu
    Per Day
      Index   Price per
    MMBtu
     
    Natural Gas:                          
    Apr – Jun   2025   Swap     30,000   HH   $ 4.43  
    Jul – Sep   2025   Swap     30,000   HH   $ 4.43  
    Oct – Dec   2025   Swap     30,000   HH   $ 4.43  
    Jan – Mar   2026   Swap     19,667   HH   $ 4.43  
     

    HighPeak added the following natural gas swaps in April 2025.

    Settlement Month   Settlement
    Year
      Type of
    Contract
      MMBtu
    Per Day
      Index   Price per
    MMBtu
     
    Natural Gas:                          
    Jan – Mar   2026   Swap     10,333   HH   $ 4.30  
    Apr – Jun   2026   Swap     30,000   HH   $ 4.30  
    Jul – Sep   2026   Swap     30,000   HH   $ 4.30  
    Oct – Dec   2026   Swap     30,000   HH   $ 4.30  
    Jan – Mar   2027   Swap     19,667   HH   $ 4.30  
     

    Dividends

    During the first quarter of 2025, HighPeak’s Board of Directors approved a quarterly dividend of $0.04 per share, or $5.0 million in dividends paid to stockholders during the quarter. In addition, in May 2025, the Company’s Board of Directors declared a quarterly dividend of $0.04 per share, or approximately $5.0 million in dividends, to be paid on June 25, 2025, to stockholders of record on June 2, 2025. 

    Conference Call

    HighPeak will host a conference call and webcast on Tuesday, May 13, 2025, at 10:00 a.m. Central Time for investors and analysts to discuss its results for the first quarter of 2025. Conference call participants may register for the call here. Access to the live audio-only webcast and replay of the earnings release conference call may be found here. A live broadcast of the earnings conference call will also be available on the HighPeak Energy website at www.highpeakenergy.com under the “Investors” section of the website. A replay will also be available on the website following the call.

    When available, a copy of the Company’s earnings release, investor presentation and Quarterly Report on Form 10-Q may be found on its website at www.highpeakenergy.com.

    About HighPeak Energy, Inc.

    HighPeak Energy, Inc. is a publicly traded independent crude oil and natural gas company, headquartered in Fort Worth, Texas, focused on the acquisition, development, exploration and exploitation of unconventional crude oil and natural gas reserves in the Midland Basin in West Texas. For more information, please visit our website at www.highpeakenergy.com.

    Cautionary Note Regarding Forward-Looking Statements

    The information in this press release contains forward-looking statements that involve risks and uncertainties. When used in this document, the words “believes,” “plans,” “expects,” “anticipates,” “forecasts,” “intends,” “continue,” “may,” “will,” “could,” “should,” “future,” “potential,” “estimate” or the negative of such terms and similar expressions as they relate to HighPeak Energy, Inc. (“HighPeak Energy” or the “Company”) are intended to identify forward-looking statements, which are generally not historical in nature. The forward-looking statements are based on the Company’s current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates. Although the Company believes that the expectations and assumptions reflected in the forward-looking statements are reasonable as and when made, they involve risks and uncertainties that are difficult to predict and, in many cases, beyond the Company’s control. For example, the Company’s review of strategic alternatives may not result in a sale of the Company, a recommendation that a transaction occur or result in a completed transaction, and any transaction that occurs may not increase shareholder value, in each case as a result of such risks and uncertainties.

    These risks and uncertainties include, among other things, the results of the strategic review being undertaken by the Company’s Board and the interest of prospective counterparties, the Company’s ability to realize the results contemplated by its 2025 guidance, volatility of commodity prices, political instability or armed conflicts in crude or natural gas producing regions such as the ongoing war between Russia and Ukraine or Israel and Hamas, product supply and demand, the impact of a widespread outbreak of an illness, such as the coronavirus disease pandemic, on global and U.S. economic activity, competition, OPEC+ policy decisions, potential new trade policies, such as tariffs, could adversely affect the Company’s operations, business and profitability, inflationary pressures on costs of oilfield goods, services and personnel, the ability to obtain environmental and other permits and the timing thereof, other government regulation or action, the ability to obtain approvals from third parties and negotiate agreements with third parties on mutually acceptable terms, litigation, the costs and results of drilling and operations, availability of equipment, services, resources and personnel required to perform the Company’s drilling and operating activities, access to and availability of transportation, processing, fractionation, refining and storage facilities, HighPeak Energy’s ability to replace reserves, implement its business plans or complete its development activities as scheduled, access to and cost of capital, the financial strength of counterparties to any credit facility and derivative contracts entered into by HighPeak Energy, if any, and purchasers of HighPeak Energy’s oil, natural gas liquids and natural gas production, uncertainties about estimates of reserves, identification of drilling locations and the ability to add proved reserves in the future, the assumptions underlying forecasts, including forecasts of production, expenses, cash flow from sales of oil and gas and tax rates, quality of technical data, environmental and weather risks, including the possible impacts of climate change, cybersecurity risks and acts of war or terrorism. These and other risks are described in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K and other filings with the SEC. The Company undertakes no duty to publicly update these statements except as required by law.

    Reserve engineering is a process of estimating underground accumulations of hydrocarbons that cannot be measured in an exact way. The accuracy of any reserve estimate depends on the quality of available data, the interpretation of such data and price and cost assumptions made by reserve engineers. Reserves estimates included herein may not be indicative of the level of reserves or PV-10 value of oil and natural gas production in the future. In addition, the results of drilling, testing and production activities may justify revisions of estimates that were made previously. If significant, such revisions could impact HighPeak’s strategy and change the schedule of any further production and development drilling. Accordingly, reserve estimates may differ significantly from the quantities of oil and natural gas that are ultimately recovered.

    Use of Projections

    The financial, operational, industry and market projections, estimates and targets in this press release and in the Company’s guidance (including production, operating expenses and capital expenditures in future periods) are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond the Company’s control. The assumptions and estimates underlying the projected, expected or target results are inherently uncertain and are subject to a wide variety of significant business, economic, regulatory and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the financial, operational, industry and market projections, estimates and targets, including assumptions, risks and uncertainties described in “Cautionary Note Regarding Forward-Looking Statements” above. These projections are speculative by their nature and, accordingly, are subject to significant risk of not being actually realized by the Company. Projected results of the Company for 2025 are particularly speculative and subject to change. Actual results may vary materially from the current projections, including for reasons beyond the Company’s control. The projections are based on current expectations and available information as of the date of this release. The Company undertakes no duty to publicly update these projections except as required by law.

    Drilling Locations

    The Company has estimated its drilling locations based on well spacing assumptions and upon the evaluation of its drilling results and those of other operators in its area, combined with its interpretation of available geologic and engineering data. The drilling locations actually drilled on the Company’s properties will depend on the availability of capital, regulatory approvals, commodity prices, costs, actual drilling results and other factors. Any drilling activities conducted on these identified locations may not be successful and may not result in additional proved reserves. Further, to the extent the drilling locations are associated with acreage that expires, the Company would lose its right to develop the related locations.

    HighPeak Energy, Inc.
    Unaudited Condensed Consolidated Balance Sheet Data
    (In thousands)
        March 31,
    2025
      December 31,
    2024
     
    Current assets:              
    Cash and cash equivalents   $ 51,619     $ 86,649    
    Accounts receivable     78,356       85,242    
    Inventory     8,706       10,952    
    Prepaid expenses     8,301       4,587    
    Derivative instruments     5,620       7,582    
    Total current assets     152,602       195,012    
    Crude oil and natural gas properties, using the successful efforts method of accounting:              
    Proved properties     4,140,881       3,959,545    
    Unproved properties     71,359       70,868    
    Accumulated depletion, depreciation and amortization     (1,293,949 )     (1,184,684 )  
    Total crude oil and natural gas properties, net     2,918,291       2,845,729    
    Other property and equipment, net     3,141       3,201    
    Other noncurrent assets     19,047       19,346    
    Total assets   $ 3,093,081     $ 3,063,288    
                   
    Current liabilities:              
    Current portion of long-term debt, net   $ 120,000     $ 120,000    
    Accounts payable – trade     66,473       74,011    
    Accrued capital expenditures     53,240       35,170    
    Revenues and royalties payable     27,993       26,838    
    Other accrued liabilities     22,065       22,196    
    Derivative instruments     8,275       5,380    
    Operating leases     821       719    
    Advances from joint interest owners           316    
    Total current liabilities     298,867       284,630    
    Noncurrent liabilities:              
    Long-term debt, net     902,844       928,384    
    Deferred income taxes     242,337       232,398    
    Asset retirement obligations     15,058       14,750    
    Operating leases     581       670    
    Commitments and contingencies              
                   
    Stockholders’ equity              
    Common stock     13       13    
    Additional paid-in capital     1,166,786       1,166,609    
    Retained earnings     466,595       435,834    
    Total stockholders’ equity     1,633,394       1,602,456    
    Total liabilities and stockholders’ equity   $ 3,093,081     $ 3,063,288    
     
    HighPeak Energy, Inc.
    Unaudited Condensed Consolidated Statements of Operations
    (in thousands)
        Quarter Ended March 31,
     
        2025   2024
     
    Operating revenues:            
    Crude oil sales   $ 246,424     $ 282,369    
    NGL and natural gas sales     11,024       5,395    
    Total operating revenues     257,448       287,764    
    Operating costs and expenses:            
    Crude oil and natural gas production     35,562       30,271    
    Production and ad valorem taxes     15,152       14,402    
    Exploration and abandonments     264       498    
    Depletion, depreciation and amortization     109,325       130,850    
    Accretion of discount     244       239    
    General and administrative     6,345       4,685    
    Stock-based compensation     177       3,798    
    Total operating costs and expenses     167,069       184,743    
    Other expense           1    
    Income from operations     90,379       103,020    
    Interest income     810       2,392    
    Interest expense     (36,988 )     (43,634 )  
    Loss on derivative instruments, net     (7,927 )     (53,043 )  
    Income before income taxes     46,274       8,735    
    Provision for income taxes     9,939       2,297    
    Net income   $ 36,335     $ 6,438    
                 
    Earnings per share:            
    Basic net income   $ 0.26     $ 0.05    
    Diluted net income   $ 0.26     $ 0.05    
                 
    Weighted average shares outstanding:            
    Basic     123,913       125,696    
    Diluted     127,213       129,641    
                 
    Dividends declared per share   $ 0.04     $ 0.04    
     
    HighPeak Energy, Inc.
    Unaudited Condensed Consolidated Statements of Cash Flows
    (in thousands)
        Quarter Ended March 31,
     
        2025
      2024
     
    CASH FLOWS FROM OPERATING ACTIVITIES:            
    Net income   $ 36,335     $ 6,438    
    Adjustments to reconcile net income to net cash provided by operations:            
    Provision for deferred income taxes     9,939       1,688    
    Loss on derivative instruments     7,927       53,043    
    Cash paid on settlement of derivative instruments     (3,071 )     (5,148 )  
    Amortization of debt issuance costs     2,034       2,053    
    Amortization of discounts on long-term debt     2,426       2,453    
    Stock-based compensation expense     177       3,798    
    Accretion expense     244       239    
    Depletion, depreciation and amortization     109,325       130,850    
    Exploration and abandonment expense     4       274    
    Changes in operating assets and liabilities:            
    Accounts receivable     6,886       (14,414 )  
    Prepaid expenses, inventory and other assets     (1,314 )     (4,722 )  
    Accounts payable, accrued liabilities and other current liabilities     (13,860 )     (5,113 )  
    Net cash provided by operating activities     157,052       171,439    
    CASH FLOWS FROM INVESTING ACTIVITIES:            
    Additions to crude oil and natural gas properties     (179,819 )     (147,698 )  
    Changes in working capital associated with crude oil and natural gas property additions     25,172       1,705    
    Acquisitions of crude oil and natural gas properties     (2,517 )     (2,171 )  
    Proceeds from sales of properties     570          
    Other property additions           (59 )  
    Net cash used in investing activities     (156,594 )     (148,223 )  
    CASH FLOWS FROM FINANCING ACTIVITIES:            
    Repayments under Term Loan Credit Agreement     (120,000 )     (30,000 )  
    Dividends paid     (4,957 )     (5,050 )  
    Dividend equivalents paid     (531 )     (530 )  
    Repurchased shares under buyback program           (8,764 )  
    Debt issuance costs           (7 )  
    Net cash used in financing activities     (35,488 )     (44,351 )  
    Net decrease in cash and cash equivalents     (35,030 )     (21,135 )  
    Cash and cash equivalents, beginning of period     86,649       194,515    
    Cash and cash equivalents, end of period   $ 51,619     $ 173,380    
     
    HighPeak Energy, Inc.
    Unaudited Summary Operating Highlights
        Quarter Ended March 31,  
        2025   2024  
    Average Daily Sales Volumes:              
    Crude oil (Bbls)     38,222       39,959    
    NGLs (Bbls)     7,724       5,147    
    Natural gas (Mcf)     43,096       27,733    
    Total (Boe)     53,128       49,729    
                   
    Average Realized Prices (excluding effects of derivatives):              
    Crude oil per Bbl   $ 71.64     $ 77.65    
    NGL per Bbl   $ 24.21     $ 24.94    
    Natural gas per Mcf   $ 2.34     $ 1.33    
    Total per Boe   $ 53.84     $ 63.59    
                   
    Margin Data ($ per Boe):              
    Average price, excluding effects of derivatives   $ 53.84     $ 63.59    
    Lease operating expenses     (6.61 )     (6.30 )  
    Expense workovers     (0.83 )     (0.39 )  
    Production and ad valorem taxes     (3.17 )     (3.18 )  
    General and administrative expenses     (1.33 )     (1.04 )  
        $ 41.90     $ 52.68    
     
    HighPeak Energy, Inc.
    Unaudited Earnings Per Share Details
        Quarter Ended March 31,  
        2025   2024  
    Net income as reported   $ 36,335     $ 6,438    
    Participating basic earnings     (3,542 )     (605 )  
    Basic earnings attributable to common shareholders     32,793       5,833    
    Reallocation of participating earnings     47       1    
    Diluted net income attributable to common shareholders   $ 32,840     $ 5,834    
                   
    Basic weighted average shares outstanding     123,913       125,696    
    Dilutive warrants and unvested stock options     1,146       1,786    
    Dilutive unvested restricted stock     2,154       2,159    
    Diluted weighted average shares outstanding     127,213       129,641    
                   
    Net income per share attributable to common shareholders:              
    Basic   $ 0.26     $ 0.05    
    Diluted   $ 0.26     $ 0.05    
     
    HighPeak Energy, Inc.
    Unaudited Reconciliation of Net Income to EBITDAX, Discretionary Cash Flow and Net Cash Provided by Operations
    (in thousands)
     
        Quarter Ended March 31,  
        2025   2024  
    Net income   $ 36,335     $ 6,438    
    Interest expense     36,988       43,634    
    Interest income     (810 )     (2,392 )  
    Income tax expense     9,939       2,297    
    Depletion, depreciation and amortization     109,325       130,850    
    Accretion of discount     244       239    
    Exploration and abandonment expense     264       498    
    Stock based compensation     177       3,798    
    Derivative related noncash activity     4,856       47,895    
    Other expense           1    
    EBITDAX     197,318       233,258    
    Cash interest expense     (32,528 )     (39,128 )  
    Other (a)     550       1,558    
    Discretionary cash flow     165,340       195,688    
    Changes in operating assets and liabilities     (8,288 )     (24,249 )  
    Net cash provided by operating activities   $ 157,052     $ 171,439    
    (a)     Includes interest income net of current tax expense, other expense and operating portion of exploration and abandonment expenses.
     
    HighPeak Energy, Inc.
    Unaudited Reconciliation of Net Cash Provided by Operations and Free Cash Flow
    (in thousands)
        Quarter Ended March 31,  
        2025   2024  
    Net cash provided by operating activities   $ 157,052     $ 171,439    
    Add back: net change in operating assets and liabilities     8,288       24,249    
    Operating cash flow before working capital changes     165,340       195,688    
    Additions to crude oil and natural gas properties     (179,819 )     (147,698 )  
    Changes in working capital associated with crude oil and natural gas property additions     25,172       1,705    
    Free cash flow   $ 10,693     $ 49,695    
     
    HighPeak Energy, Inc.
    Unaudited Reconciliation of Net Income to Adjusted Net Income
    (in thousands, except per share data)
        Quarter Ended
    March 31, 2025
     
        Amounts   Amounts per Diluted Share  
    Net income   $ 36,335     $ 0.26    
    Derivative loss, net     7,927       0.06    
    Stock-based compensation     177       0.00    
    Income tax adjustment for above items *     (1,741 )     (0.01 )  
                       
    Adjusted net income   $ 42,698     $ 0.31    
                   
    * Assuming 21% statutory tax rate              
     

    Investor Contact:

    Ryan Hightower
    Vice President, Business Development
    817.850.9204
    rhightower@highpeakenergy.com

    Source: HighPeak Energy, Inc.

    The MIL Network

  • MIL-OSI USA: Warren, Booker, Nadler Press Pepsi on Potentially Illegal Price Discrimination Against Small, Independently-Owned Grocery Stores

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren
    May 12, 2025
    “Charging discriminatory, high prices to smaller, independent retailers harms those retailers’ ability to compete, and often forces consumers to endure unfair price increases.”
    “American families across the country continue to struggle to afford groceries, and enforcement of the [Robinson-Patman Act] is part of the solution to help promote competition throughout the food supply chain and ease their financial burden.”
    Text of Letter (PDF)
    Washington, D.C. — U.S. Senators Elizabeth Warren (D-Mass.) and Cory Booker (D-N.J.), along with Representative Jerry Nadler (D-N.Y.) wrote to Ramon Laguarta, CEO of PepsiCo, Inc. (Pepsi) demanding an explanation for the company’s potentially illegal price discrimination against small and independent grocery stores. The lawmakers are the top Democrats on the Senate Committee on Banking, Housing, and Urban Affairs, Senate Judiciary Subcommittee on Antitrust, Competition Policy, and Consumer Rights, and House Judiciary Subcommittee on the Administrate State, Regulatory Reform, and Antitrust, respectively. 
    Representatives Becca Balint (D-Vt.), Andre Carson (D-Ind.), Maggie Goodlander (D-N.H.), Pramila Jayapal (D-Wash.), Summer Lee (D-Pa.), Rashida Tlaib (D-Mich.), and Nikema Williams (D-Ga.) joined in signing the letter. 
    In recent months, Pepsi has faced legal action from convenience stores and the Federal Trade Commission (FTC), a regulator charged with enforcing federal consumer protection laws and antitrust laws. In January 2025, the FTC sued Pepsi, accusing it of violating the Robinson-Patman Act (RPA), which prohibits sellers from engaging in anticompetitive price discrimination. The FTC claimed that for years, Pepsi has disadvantaged retailers – including local convenience stores – by consistently giving benefits and advantages, such as promotional payments, to a big-box store, while denying those same benefits to the store’s competitors.
    In February 2025, two small, family-owned convenience stores accused Pepsi and its subsidiary Frito-Lay of violating the RPA, claiming the corporation charged independent retailers more “for identical bags of snack chips” compared to what it charged chain stores. The plaintiffs claimed they were charged as much as 50 percent more for those goods, and that the “discriminatory pricing” forced them to pass on the higher costs to consumers. 
    “The Robinson-Patman Act is an important tool for the FTC to combat illegal price discrimination and concentration, and to provide a level playing field to all businesses…Charging discriminatory, high prices to smaller, independent retailers harms those retailers’ ability to compete, and often forces consumers to endure unfair price increases,” wrote the lawmakers. 
    The RPA forbids sellers from charging competing buyers different prices for the same goods when the price discrimination may lessen or harm competition. The law also prohibits special promotional payments, discounts, rebates, allowances, or services to one buyer unless they are made available to all competing buyers.
    “As food prices remain sky-high, the FTC should continue to enforce the RPA to promote fair competition in the food industry,” urged the lawmakers. 
    The bicameral coalition asked Pepsi to explain, by May 25, 2025, its pricing strategies, any discrepancies between what it charges chain retailers and small, independent retailers, how these price discrepancies affect shopping options for consumers, and the company’s lobbying efforts to refute price discrimination allegations.  
    As a champion for American consumers and a secure and healthy economy, Senator Warren has engaged in oversight of corporations for unfairly increasing prices for consumers. She has also been calling for more competition and stronger enforcement of antitrust laws to bring down prices for families: 
    In May 2025, Senators Elizabeth Warren and Jim Banks (R-Ind.) applauded the Department of Justice’s ongoing investigation into potential anticompetitive practices by major egg producers and urged the agency to continue its thorough investigation as egg prices continue to rise.
    In January 2025, Senator Elizabeth Warren and Representative Jim McGovern (D-Mass.) led 19 of their colleagues, writing to President Donald Trump, pushing him to take meaningful steps to lower the prices of eggs and other groceries—a problem he largely ignored during his entire first week in office.
    In November 2024, Senator Elizabeth Warren and Congressman Adam Schiff (D-Calif.) led their colleagues in writing to Chair of the Federal Trade Commission, Lina Khan, and Secretary of the Department of Agriculture, Thomas Vilsack, urging them to investigate Albertsons and other major grocery chains for predatory practices that could have violated federal laws.
    In October 2024, Senators Elizabeth Warren led a letter to President and Chief Executive Officer of McDonald’s, Chris Kempczinski, pushing for more information on McDonald’s pricing decisions as fast food prices continue to increase, outpacing inflation and squeezing customers.
    In October 2024, Senators Elizabeth Warren and Ed Markey, along with Representatives Jim McGovern and Ayanna Pressley, sent a letter to Frans Muller, CEO of Ahold Delhaize—parent company of Stop & Shop—demanding an explanation for its potential use of pricing algorithms is leading to price gouging, resulting in higher prices in minority and working class communities in Massachusetts.
    On May 3, 2024, during a hearing of the U.S. Senate Committee on Banking, Housing, & Urban Affairs, Senator Warren called out food industry price gouging and urged action to combat unfair pricing practices.
    On March 28, 2024, Senator Elizabeth Warren (D-Mass.) and Representative Mary Gay Scanlon (D-Penn.) led a group of 14 lawmakers in a letter to FTC Chair Lina Khan urging the agency to revive enforcement of the Robinson-Patman Act (RPA), a critical tool to promote fair competition in the food industry. 
    On February 28, 2024, Senator Warren joined Senator Bob Casey (D-Pa.) in introducing the Shrinkflation Prevention Act to crack down on corporations that deceive consumers by selling smaller sizes of their products without lowering prices.
    On February 15, 2024, Senators Warren, Baldwin, Casey, and U.S. Representative Jan Schakowsky (D-Ill.) reintroduced the Price Gouging Prevention Act of 2024, which would protect consumers and prohibit corporate price gouging by authorizing the FTC and state attorneys general to enforce a federal ban against grossly excessive price increases.
    In December 2023, Senator Warren urged the FTC to block the Kroger-Albertsons merger, which would give the five largest food retail companies control of 55 percent of all grocery sales, allowing them to further control and ultimately raise consumer prices, while also reducing job competition, decreasing wages, and decreasing the bargaining power of organized labor.
    In November 2023, Senator Warren called out TransDigm for its refusal to provide cost and pricing information needed to prevent price gouging of taxpayers and the Department of Defense.
    Senator Warren repeatedly urged the Biden administration to closely scrutinize other potentially anticompetitive mergers that could lead to higher prices for consumers and accelerate industry consolidation. She has led letters about the proposed mergers of Frontier and Spirit airlines, JetBlue and Spirit Airlines, Sanderson-Wayne, WarnerMedia-Discovery, and Amazon-MGM.
    In March 2022, Senator Warren introduced the Prohibiting Anticompetitive Mergers Act to help stomp out rampant industry consolidation that allows companies to raise consumer prices and mistreat workers. The bill would ban the biggest, most anticompetitive mergers and give the Department of Justice and Federal Trade Commission the teeth to reject deals in the first instance without court orders and to break up harmful mergers.
    In February 2022, at a hearing, Senator Warren called out corporations for abusing their market power to raise consumer prices and boost profits.
    That same month, Senator Warren requested the Department of Justice to take aggressive action against corporations violating antitrust laws to hike prices for consumers.
    In January 2022, Senator Warren questioned Federal Reserve nominee Lael Brainard about market concentration and price gouging driving inflation.
    At a January 2022 hearing, Senator Warren pressed Fed Chair Jerome Powell on the role of corporate concentration in driving up prices for consumers during his renomination hearing to be Chair of the Board of Governors of the Federal Reserve System.
    In a New York Times op-ed published in April 2020, Senator Warren urged Congress to focus on cracking down on price gouging in its ongoing effort to address the impact of the coronavirus pandemic.
    In March 2020, Senator Warren joined her colleagues in urging the FTC to use its full authority to prevent abusive price gouging on consumer health products during the COVID-19 pandemic. 

    MIL OSI USA News

  • MIL-OSI United Kingdom: Company behind London art galleries which claimed to sell works by Banksy and Andy Warhol is shut down

    Source: United Kingdom – Executive Government & Departments

    Press release

    Company behind London art galleries which claimed to sell works by Banksy and Andy Warhol is shut down

    The company has been wound-up following a hearing at the High Court

    • Artwork Holdings Ltd, formerly Yield Gallery Limited, described itself as “contemporary art specialists offering the purchase and investment of artwork to the public” 

    • Insolvency Service investigations into the company found conflicting accounts as to whether it was trading, inaccurate accounts, and a suspected under-payment of VAT and corporation tax 

    • The company has been shut down by the High Court, with the Official Receiver appointed as liquidator

    A company with two London art galleries which marketed itself as selling works by famous artists such as Banksy, Andy Warhol and Tracey Emin has been shut down. 

    Artwork Holdings Ltd traded under the banner of Yield Gallery, which described itself as an internationally established “reputable and respected” contemporary and modern art gallery with two locations in London. 

    The business said it specialised in sourcing the rarest works by Banksy and Canadian street artist Richard Hambleton, offering collectors and investors the chance to own “original works from the artists”. 

    However, Insolvency Service investigations into Artwork Holdings were met with a lack of clarity over the company’s trading status, unreliable accounts, and a failure from the directors to adequately co-operate. 

    Artwork Holdings opposed the proceedings and asked the court to dismiss the winding-up petition presented by the Insolvency Service.  

    However, the company was wound-up at a hearing of the High Court in London on Monday 12 May. 

    Edna Okhiria, Chief Investigator at the Insolvency Service, said: 

    Our investigations into Artwork Holdings Ltd found several matters of concern. The company claimed to have ceased trading three years ago, but our investigators uncovered substantial evidence directly contradicting that account. Indeed, the company only changed its name to Artwork Holdings in November 2024.  

    Unreliable and inconsistent accounts were uncovered which did not provide a fair representation of the company’s business. The company and its director also failed to sufficiently co-operate with our investigations. 

    The public rightly expects companies to operate with transparency, file their tax returns, and comply with investigations by law enforcement. Artwork Holdings failed to do this and these matters of concern will now be investigated during the course of the company’s liquidation.

    Yield Gallery was founded in 2019 with a gallery based on Royal Parade, Blackheath, in south-east London. A second space, which the company said was the largest Richard Hambleton gallery in the world, opened on Eastcastle Street in Fitzrovia in June 2024. 

    Insolvency Service investigations into Artwork Holdings began in October 2023, with the company named Yield Gallery Limited at that point. The company had earlier traded under a different name, Yield for You Ltd. 

    Solicitors acting on behalf of the company told investigators that it had ceased trading over a period time, rather than at a particular point as is usually the case. No dates were provided, other than vague statements that it was either in late 2021 or early 2022. 

    A new company, YG Group Ltd, was alleged to have taken over the company’s business and trading activities. 

    But information obtained by the Insolvency Service directly contradicted this, with Yield Gallery’s website referencing the company’s full name on its contact page up until April 2024. 

    A rental agreement for one of Yield Gallery’s former locations was also signed by one of the directors in August 2022, more than six months after it claimed to have stopped trading. 

    Similarly, it advertised an exhibition in Soho in the autumn of 2023, with the licence agreement for the location giving the company name as Yield Gallery and the company number of Artwork Holdings. 

    Several Yield Gallery clients contacted by the Insolvency Service also said they had not been informed the company had ceased trading and that the business had been transferred to YG Group. 

    These issues were not disputed by the company’s active director, who blamed “lax administration”, a “lack of diligence” and “carelessness on my part” for the errors. 

    Inaccurate and unreliable accounts were also discovered during the investigations. 

    Investigators found payments from 64 customers totalling just over £2 million paid into two of the company’s bank accounts between December 2020 and April 2022. 

    But sales for that period were more than £4.2 million, suggesting more than half the company’s revenue did not pass through its bank account. 

    Investigators also found that a £50,000 Covid Bounce Back Loan had been secured by the company in June 2020. From the accounts seen by the Insolvency Service, it was not entitled to this government-backed loan as its turnover in 2019 was zero, not the £200,000 it needed to be to secure the funds. 

    The director claimed that the company was entitled to the Bounce Back Loan and that its accounts were wrong. 

    However, in response to questions from investigators who found that the company appeared to owe more than £100,000 in corporation tax, he said he was “unable to comment on the accuracy of the accounts”. 

    No evidence was provided by Artwork Holdings that it had declared and paid the corporation tax due on its trading. 

    Artwork Holdings was also not registered with HM Revenue and Customs as an art market participant which it was required to do to avoid falling foul of money laundering regulations. 

    Concerns were also identified that the company had not paid the appropriate amount of VAT. 

    The Official Receiver has been appointed as liquidator of Artwork Holdings Ltd. 

    All enquiries concerning the affairs of the company should be made to the Official Receiver of the Public Interest Unit: 16th Floor, 1 Westfield Avenue, Stratford, London, E20 1HZ. Email: piu.or@insolvency.gov.uk. 

    Based on the available evidence provided to the Insolvency Service, there is no indication that any of the artists named above had any direct relationship with the company.

    Further information

    Updates to this page

    Published 12 May 2025

    MIL OSI United Kingdom

  • MIL-OSI: CBAK Energy to Report First Quarter 2025 Unaudited Financial Results on Monday, May 19, 2025

    Source: GlobeNewswire (MIL-OSI)

    DALIAN, China, May 12, 2025 (GLOBE NEWSWIRE) — CBAK Energy Technology, Inc. (NASDAQ: CBAT) (“CBAK Energy”, or the “Company”), a leading lithium-ion battery manufacturer and electric energy solution provider in China, today announced that it will report its unaudited financial results for the first quarter ended March 31, 2025 on Monday, May 19, 2025, before the U.S. market opens. The earnings results will be available on the Company’s Investor Relations website, and will be filed with the Securities and Exchange Commission on a Form 8-K.

    CBAK Energy’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on Monday, May 19, 2025 (8:00 PM Beijing/Hong Kong Time on May 19, 2025).

    For participants who wish to join our call online, please visit: 

    https://edge.media-server.com/mmc/p/wfu5unoh

    Participants who plan to ask questions at the call will need to register at least 15 minutes prior to the scheduled call start time using the link provided below. Upon registration, participants will receive the conference call access information, including dial-in numbers, a unique pin and an email with detailed instructions.

    Participant Online Registration: 

    https://register-conf.media-server.com/register/BIb49b754e574a43e68068965ba0234966

    Once completing the registration, please dial-in at least 10 minutes before the scheduled start time of the conference call and enter the personal pin as instructed to connect to the call.

    A replay of the conference call may be accessed within seven days after the conclusion of the live call at the following website: https://edge.media-server.com/mmc/p/wfu5unoh

    About CBAK Energy

    CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a leading high-tech enterprise in China engaged in the development, manufacturing, and sales of new energy high power lithium and sodium batteries, as well as the production of raw materials for use in manufacturing high power lithium batteries. The applications of the Company’s products and solutions include electric vehicles, light electric vehicles, energy storage and other high-power applications. In January 2006, CBAK Energy became the first lithium battery manufacturer in China listed on the Nasdaq Stock Market. CBAK Energy has multiple operating subsidiaries in Dalian, Nanjing, Shaoxing and Shangqiu, as well as a large-scale R&D and production base in Dalian.

    For more information, please visit ir.cbak.com.cn.

    Safe Harbor Statement

    This press release contains “forward-looking statements” that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, 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. We have attempted to identify forward-looking statements by terminology including “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “should,” or “will” or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by, these forward-looking statements.

    Any forward-looking statements contained in this press release are only estimates or predictions of future events based on information currently available to our management and management’s current beliefs about the potential outcome of future events. Whether these future events will occur as management anticipates, whether we will achieve our business objectives, and whether our revenues, operating results, or financial condition will improve in future periods are subject to numerous risks.  There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: significant legal and operational risks associated with having substantially all of our business operations in China, that the Chinese government may exercise significant oversight and discretion over the conduct of our business and may intervene in or influence our operations at any time, which could result in a material change in our operations and/or the value of our securities or could significantly limit or completely hinder our ability to offer or continue to offer securities to investors and could cause the value of such securities to significantly decline or be worthless, the effects of the global Covid-19 pandemic or other health epidemics, changes in domestic and foreign laws, regulations and taxes, the volatility of the securities markets; and other risks including, but not limited to, the ability of the Company to meet its contractual obligations, the uncertain markets for the Company’s products and business, macroeconomic, technological, regulatory, or other factors affecting the profitability of our products and solutions that we discussed or referred to in the Company’s disclosure documents filed with the U.S. Securities and Exchange Commission (the “SEC”) available on the SEC’s website at www.sec.gov, including the Company’s most recent Annual Report on Form 10-K as well as in our other reports filed or furnished from time to time with the SEC. You should read these factors and the other cautionary statements made in this press release. If one or more of these factors materialize, or if any underlying assumptions prove incorrect, our actual results, performance or achievements may vary materially from any future results, performance or achievements expressed or implied by these forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.

    For further inquiries, please contact:

    In China:

    CBAK Energy Technology, Inc.
    Investor Relations Department
    Email: ir@cbak.com.cn

    The MIL Network

  • MIL-OSI United Kingdom: Senior nurse to bring vast experience to ARU role

    Source: Anglia Ruskin University

    Professor Dame Ruth May DBE

    England’s former Chief Nursing Officer Professor Dame Ruth May DBE has taken up a professorial role with Anglia Ruskin University (ARU), bringing a wealth of experience to ARU’s health provision.

    Professor May has joined ARU as Professor of Nursing and Health Systems Leadership, within the Faculty of Health, Medicine and Social Care.

    An operating theatre nurse by background, Professor May retired from her role as NHS England’s Chief Nursing Officer in July 2024 after five years in the role. This was a culmination of several decades working in the NHS, including a number of roles in the East of England.

    Among her many accomplishments as Chief Nursing Officer was her leadership through the Covid-19 pandemic, directly advising the Government on nursing policy during one of the greatest challenges facing the health service in modern times. She also led the Stop the Pressure campaign to raise awareness and reduce the incidence of pressure ulcers among hospital patients.

    In 2009, Professor May was given the award of Honorary Doctor of Science by ARU in recognition of her leadership skills within the health service.

    She was appointed Dame Commander of the Order of the British Empire (DBE) in the 2022 Birthday Honours for services to nursing, midwifery and the NHS.

    Professor May’s new role involves working closely with staff and students, partners, and wider stakeholders, supporting ARU’s ambitions in its delivery of high-quality education and meeting NHS workforce needs, as well as supporting ARU’s collaborative endeavours through innovation, knowledge exchange and research.

    Among the key areas that Professor May will focus on in her new role is ensuring an excellent experience for health and social care students, particularly in the context of practice learning and employability.

    “ARU has a special place in my heart and, as a local resident too, it will be a great privilege to continue to play a part in helping the next generation of nurses, midwives and other health professionals on their path to an incredibly rewarding career.”

    Professor Ruth May

    “I congratulate Professor Dame Ruth May DBE on her appointment as Professor of Nursing and Health Systems Leadership at ARU, we are delighted that Ruth has joined the team in the Faculty of Health, Medicine and Social Care.

    “We look forward to drawing from Ruth’s vast knowledge and expertise developed over an impactful career in the NHS including overseeing the health service during the Covid-19 pandemic, one of the most significant global societal events in recent history. Ruth will make a unique contribution, further enhancing our students’ experience, partnership collaboration and the impact of ARU across the region.

    “ARU is proud to be the largest provider of healthcare education in the East of England. Our graduates play an important role in this region’s workforce and beyond, positively contributing to health and care delivery and optimising population health outcomes.”

    Professor Jackie Kelly, Pro Vice Chancellor and Dean of the Faculty of Health, Medicine and Social Care at Anglia Ruskin University (ARU)

    For more information about studying Nursing at ARU, please visit aru.ac.uk/nursing

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: University to host major science communication conference Around 600 delegates from around the world will arrive in Aberdeen this month for the bi-annual Public Communication of Science Conference.

    Source: University of Aberdeen

    University of Aberdeen to host Public Communication of Science ConferenceAround 600 delegates from around the world will arrive in Aberdeen this month for the bi-annual Public Communication of Science Conference.
    The University of Aberdeen will host the conference which will take place from 26 – 29 May at Old Aberdeen and P&J Live.
    The conference will examine how science communication can be used to effect positive change exploring transitions, traditions and tensions in the context of our climate emergency, of global health imperative, such as food and water security and poverty alleviation.
    Ahead of the conference, there will be a number of pre-conference workshops as well as an opening ceremony and public lecture at the Music Hall – which is open to the public and can be attended even if not attending the conference. You can secure tickets online or at the box office on Union Street.

    We have some incredible keynote speakers lined up and I am sure those attending will find the event not only informative, but also highly engaging and thought provoking.” Nikki Pearce

    Nikki Pearce, CPD Manager at the University of Aberdeen said: “We are so excited to be welcoming conference goers to Aberdeen. We worked with the P&J Live and Aberdeen Convention Bureau teams who were integral to the initial identification of the conference, and who helped us to bid for this event in 2016. The conference was originally due to be held here in 2020 but due to the Covid pandemic, we had to host a virtual version, so to be given the opportunity to – finally – host the in-person event here is fantastic.
    “The conference will delve into the importance of science communication and the difference it can make to the world around us. We have some incredible keynote speakers lined up and I am sure those attending will find the event not only informative, but also highly engaging and thought provoking.
    “Among the many highlights of the three-day programme is a live podcast panel which will bring together Professor Niamh Nic Daeid, a forensic scientist, Professor Alex Johnstone, a nutrition expert, Professor Marcel Jaspars, a marine biotechnologist, and Professor Thomas Weber, a historian and expert in international affairs, to explore how science is tested, challenged, and reimagined. From televised crime scenes to the food you choose to prepare in your kitchen, the deep sea to history, they’ll explore the differences between how they conduct and communicate their science, bust myths, influence policy and tackle the tensions between scientific and public opinion.”
    For further information about the conference, and about the events which are open to all and available to book now, please visit https://www.abdn.ac.uk/events/conferences/pcst-2025/

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Poll shows huge majority of Scots back rent controls and housing protections

    Source: Scottish Greens

    Homes are for living in, not for profiteering.

    The overwhelming majority of people in Scotland want rent controls to ensure rogue landlords cannot keep hiking rents, according to polling commissioned by the Scottish Greens.

    The polling, carried out by Diffley, shows that 74% of people support rent controls and 83% believe that rents are too high compared to income levels in Scotland.

    It also shows- that over two thirds (69%) support Green plans to force landlords to sell long-term derelict land and housing that they are sitting on.

    Amendments proposed by Maggie Chapman MSP to the Housing (Scotland) Bill would create robust rent controls across Scotland, ensuring that rents can’t rise faster than incomes, if MSPs back them.

    These protections put people over landlord profits, putting money back into people’s pockets and supporting renters through the ongoing cost of living crisis when bills and other costs are soaring.

    Scottish Green MSP Maggie Chapman said:

    “It is no wonder that there is such strong support for rent controls. The housing market is completely broken and it is renters who are paying the price. It underlines just how crucial it is that we take action.

    “We’ve all seen how much damage is being done by rogue landlords who have been given carte blanche to line their pockets through massive rent increases.

    “Not only does this hurt renters, often pushing them into poverty or even homelessness, but it hurts our economy as people have less money to spend.

    “This is why the Scottish Greens implemented a rent freeze and eviction ban during Covid, saving people thousands of pounds, and it’s why we so strongly opposed the SNP ending the protections that we put in place afterwards.

    “With the Housing Bill going through parliament we have the opportunity to stop the exploitation of renters and end rip-off rents. We must seize it.

    “We must offer people and their families some financial stability, and less worry about losing the roof over their heads. Homes are for living in and not for profiteering. We need to make unaffordable rent hikes become a thing of the past.”

    MIL OSI United Kingdom

  • Study finds how obesity is linked to long Covid

    Source: Government of India

    Source: Government of India (2)

    lass=”selectable-text copyable-text x15bjb6t x1n2onr6″ dir=”ltr”>People with excess weight are more likely to experience long-term neurological and mental health symptoms after Covid-19, including headaches, vertigo, smell and taste disorders, sleep disturbances, and depression, according to new research.

    The study was conducted by visiting PhD scholar Debora Barbosa Ronca from the Edith Cowan University (ECU) Centre of Precision Health.

    “We anticipated some level of association between excess weight and post-Covid-19 symptoms based on prior evidence linking obesity with worse long-term Covid-19 outcomes. What stood out was the consistency of findings across a wide range of neurological and neuropsychiatric symptoms—including memory problems, depression, sleep disturbances, and sensory impairments,” said Ronca.

    She noted that while the study did not include subgroup analyses by ethnicity, the inclusion of data from 23 countries suggested the global relevance of the findings.

    Excess weight has been associated with the development of long Covid—or Post-Covid-19 Condition—as defined by the World Health Organization.

    While the mechanisms behind this link are not yet fully understood, Ronca suggested it may be related to an exaggerated inflammatory response caused by excess fatty tissue in the body. Additionally, fat tissue may assist the SARS-CoV-2 virus in entering the body and act as a reservoir, allowing it to spread.

    Some studies have shown that long Covid symptoms can persist for 12 months or longer, highlighting the need for long-term medical support.

    “These symptoms can significantly impact quality of life and may linger for months. As we face overlapping public health challenges in the post-pandemic era—such as long Covid, mental health issues, and rising obesity rates—it’s essential to develop personalised and multidisciplinary care strategies to support affected individuals,” Ronca added.

    She emphasised that healthcare providers should be aware that individuals with excess weight may face a higher risk of experiencing long-term neurological and mental health symptoms after Covid-19.

    “This population may require closer monitoring and integrated care. Combining weight management, mental health support, and rehabilitation into post-Covid care plans could improve patient outcomes,” she said.

    (ANI)

  • MIL-OSI United Kingdom: Fake nurse crackdown to boost public safety

    Source: United Kingdom – Executive Government & Departments

    Press release

    Fake nurse crackdown to boost public safety

    New measures to make it a criminal offence for people who are not qualified as a nurse to use the title and mislead the public

    Anyone misleading the public and describing themselves as a nurse without the relevant qualifications and registration will be committing a crime, under new measures announced by the government to protect the title ‘nurse’ in law. 

    The move will help to boost protections and safety for both patients and staff, driving up standards and improving patient experience across the NHS through the government’s Plan for Change. 

    Currently, anyone – including those struck off by the Nursing and Midwifery Council (NMC) for serious misconduct or criminal convictions – can call themselves a nurse. This can result in the public thinking they’re getting advice and care from an expert professional like a nurse when they aren’t.   

    Previous reported examples of the job title being misused include someone calling herself a nurse at a large public event after being struck off and another reportedly masquerading as an aesthetic nurse.

    There will be exemptions for relevant professions like veterinary nurse, dental nurse and nursery nurse, where the title ‘nurse’ is legitimately used. 

    The government is listening to nurses and recognises they are the backbone of the NHS, and today’s announcement follows campaigning by unions for the government to act on the issue, as well as by Dawn Butler MP who introduced a Ten-Minute Rule Bill earlier this year to protect the title ‘nurse’.  

    Through the Plan for Change, the government is driving forward vital reform to get the NHS back on its feet and fit for the future. This year, a refreshed workforce plan will also be published to ensure the health service has the right workforce in the right place at the right time. 

    Health and Social Care Secretary Wes Streeting said:  

    Nurses carry out lifesaving work every day, and I am determined we do everything we can to support them and safeguard trust in the profession. 

    I’ve been appalled to read reports of so-called nurses spreading dangerous misinformation and harming the public. 

    This new legislation will help crack down on bogus beauticians and conspiracy theorists masquerading as nurses, and those attempting to mislead patients.

    The British people hold nurses in the highest regard, and we trust them in our most vulnerable moments, so patients need to know they are genuinely being seen by a nurse. Now they will.

    This is part of our Plan for Change to fix the NHS and gets the right staff working in the right place at the right time.

    Only the title “registered nurse” is currently protected in law. The new legislation will change that – ensuring that only those individuals registered with the NMC can legally use the title. Anyone violating this will be committing a criminal offence and could face a hefty fine running into the thousands of pounds.  

    There have been previous reports of bogus nurses misleadingly using the title. One ran a cosmetic clinic offering Botox and dermal filler treatments for several years despite not being registered with the NMC.  

    Another gave a speech at a Covid conspiracy rally which likened NHS nurses and doctors to war criminals – spreading misinformation about vaccines and bringing her former colleagues into disrepute. She continued to call herself a nurse despite being struck off by the NMC.   

    A previous Freedom of Information request showed that across 93% of all NHS trusts, there were more than 8,000 people with the term “nurse” in their job title who had no registered nursing qualifications. Although these people are supervised and providing important care, their job titles can cause confusion. Some, including nursery nurses, will be exempt under this new legislation

    Duncan Burton, Chief Nursing Officer for England, said:

    The trust that people place in registered nurses is based on the rigorous training and education required to be registered as a nurse which gives us the skills and knowledge to deliver high quality, safe and personalised care.

    Nurses value this trust and protecting the title of nurse can give added confidence and clarity to patients and the public on who is delivering their care and the skills and knowledge they have.

    There are already various safeguards in place to deter people from pretending to be a nurse. The most serious cases would be captured by fraud offences and depending on the case they can also be prosecuted for other more serious offences like causing grievous bodily harm, assault, or manslaughter.  

    The new legislation – expected to be laid this Parliament – will help to strengthen those existing safeguards.  

    Registered nurses go through high-quality undergraduate and postgraduate degree programmes and complete a process called revalidation every three years – ensuring they can continually update their skills set. The new measures reflect that.

    Professor Nicola Ranger, RCN General Secretary and Chief Executive , said: 

    This is an important moment for our safety-critical profession, after years of campaigning. 

    A change in the law will recognise the knowledge, professionalism and clinical expertise that comes with being a registered nurse. It will provide better legal protections for nursing professionals and reassurance to patients. 

    Crucially, this is an opportunity to begin the journey to properly valuing nursing as a profession, where respect, reward and investment match the crucial nature of our work. 

    Dr Crystal Oldman CBE, Chief Executive at The Queen’s Institute of Community Nursing, said: 

    Nurses and the millions of people they care for will benefit by this proposed change in legislation.

    This is a patient safety issue that the QICN has been campaigning on for some time. 

    People need confidence that when the person caring for them is described as a nurse, that person really is a qualified and registered nurse.

    Paul Rees MBE, Interim Chief Executive and Registrar at the Nursing and Midwifery Council, said:

    The public should always feel confident that anyone using the title ‘nurse’ is a registered professional with all the safeguards that brings.

    We look forward to working with the government and our stakeholders to deliver on it. In the meantime, it is already an offence for somebody to hold themselves out as a registered nurse when they are not.

    Helga Pile, UNISON Head of Health, said:

    Nurses and other NHS workers rightly enjoy a high level of trust because of the brilliant and important work they do.

    Charlatans and conspiracy theorists mustn’t be allowed to harm patients or damage nurses’ reputation and good standing with the public.

    It’s only right that anyone that tries to will now feel the full force of the law.

    Rachel Power, Chief Executive of The Patients Association, said:

    We welcome this commitment to ensuring patients know who is treating them and offering healthcare advice, and that those professionals are properly qualified. With health misinformation increasingly common, it’s more important than ever that patients can trust the expertise of those caring for them.

    Alison Morton, CEO, Institute of Health Visiting, said:

    The Institute of Health Visiting fully supports the campaign to protect the title “nurse” in legislation. This is urgently needed to protect the public and provide assurance that the person providing their care has the qualifications, knowledge, skills, expertise and professionalism to deliver safe and effective care. Nursing is a safety-critical workforce. And, in our view, there is only one clear path forward, the current gap in legislation needs to be closed as a matter of urgency.

    Professor Greta Westwood CBE PhD RN, CEO of the Florence Nightingale Foundation, said: 

    We welcome this recognition of the importance of the nursing role. Nurses are skilled and highly trained professionals, playing a key leadership role in the health and social care sectors, particularly around speaking out on patient safety and workforce challenges.

    This International Nurses Day, we are coming together to celebrate the incredible work that nurses do across the UK and globally, and we support the government taking this next step, working with the UK regulator, to protect our nurses and those we serve.

    Notes to editors 

    • The department will also establish the exemptions where ‘nurse’ can still be used as part of a professional title.  
    • The title ‘nurse’ is already used across multiple professions (e.g. registered nurses, dental nurses, nursery nurses and veterinary nurses) 
    • We expect the new protection of title offence to be a summary offence. Where a person is found guilty of an offence on summary conviction they will be liable to a fine across the UK.  
    • These changes, which require legislative change, will be implemented within this Parliament as part of the government’s commitment to reform the regulation of health and care professionals in the UK.

    Updates to this page

    Published 12 May 2025

    MIL OSI United Kingdom

  • MIL-OSI Australia: Antarctic ice cores returned to Australia

    Source: Australian Criminal Intelligence Commission

    The first 150 metres of a planned 3000 metre-long Antarctic ice core has been safely returned to Australia after a successful drilling season for the Million Year Ice Core (MYIC).
    The ice core, in one metre-lengths, contains a record of the past 4000 years of climate history.
    The core was drilled at a deep field camp at Dome C North, about 1200 km “up the hill” from Australia’s Casey research station.
    It’s just the start of an ambitious Australian Antarctic Program drilling effort to extract the world’s oldest, continuous ice core record of up to two million years.
    MYIC science lead, Dr Joel Pedro, said the full-length ice core is expected to extend the current ice core climate record well beyond 1.2 million years, and help solve a climate mystery.
    “About one million years ago the cycle of ice ages shifted from a regular 41,000 year glacial-interglacial cycle, to a cycle every 100,000 years,” Dr Pedro said.
    “An ice core record of over one million years can help us answer why that shift in the climate state occurred, and that will provide really important information to test models and better predict climate in the future.”

    After a few years of weather and Covid-related delays to drilling, Dr Pedro said the science team, alongside a supporting tractor-traverse team, were relieved to achieve everything they had hoped for this season, thanks to a joint, multi-skilled, team effort.
    “Our number one priority was to progress the pilot drilling for the MYIC borehole, but to do that we first had to set up the drill shelter,” Dr Pedro said.
    “We joined forces with the traverse team and were able to get the shelter constructed in 10 days – half the time we expected – and our drill built and tested in parallel.
    “Then we split in to two shifts to run the drill 16 hours a day, with the traverse team joining us in drilling and core processing.
     “After so much effort by so many people, and so much planning and time, it was a very special moment for me to pull out that first ice core – to the point that I had a tear in my eye.”
    Independent living
    Traverse Field Leader, Chris Gallagher, led a team of mechanics, electricians, a carpenter and a doctor, that towed equipment and supplies to the drill site.
    Using snow-groomers, and tractors towing sleds carrying 600 tonnes of gear, the team travelled 18 days through blizzards and heavy snow, via a route established last year.
    Once at Dome C North they set up the scientists’ accommodation modules, ready for their arrival by air.
    “Over the next few years the traverse will bring up the rest of the inland station so that it can operate independently of the traverse’s ‘sustainability train’,” Mr Gallagher said.
    Drill skills
    The traverse team were as keen to start drilling ice as the scientists, and put their skills to use.
    “Setting up the drill tent was quite complicated, with underground trenches and cabling that had to be installed, including the drill trench itself, which was six metres deep,” Mr Gallagher said.
    “Our diesel mechanics used their skills with chainsaws, battery drills, dumpy levels and other construction techniques, to help our carpenter build the tent, and then the scientists helped finish it off.
    “Once the drilling started, the mechanics assisted the drill engineers to help ensure the drill kept running properly, and other traverse team members took core measurements and wrapped and packed the cores.
    “It was fascinating.”
    Boring anxiety
    The science team drilled to 150 metres and then progressively widened the borehole from 130 mm wide at the bottom, to 260 mm wide at the top, using a series of ‘reaming’ attachments.
    Next season the widest part the borehole will be fitted with a fibreglass bore casing.
    This will seal off the porous ice near the surface and allow drill fluid to be added to prevent the borehole closing under pressure, as they drill deeper.
    It was a nail-biting time for Dr Pedro.
    “We had to go back down the borehole three times to expand it, so we effectively drilled about 520 metres,” he said.
    “Every time you put something down the borehole there’s a chance it will get stuck, and there are a number of boreholes in Antarctica that have had reamers or drills stuck in them, and they’ve had to move and start again.
    “When we got the last reamer out, I quickly shut the trap door on the hole and I knew we were safe.”
    The ice core sections were then loaded into an insulated box for transport back to Casey on the traverse and back to Australia on a C17 aircraft.
    The team will begin analysing the cores in coming months. This includes measuring water isotopes for temperature, and greenhouse gases such as methane and carbon dioxide trapped in air bubbles in the ice, which reflect changes in climate over time. They’ll also look for impurities that provide information on storms, sea-ice processes and volcanic activity.
    Next season
    Dr Pedro said the science team is now well set up for the 2025-26 drilling season.
    “A lot of the work will involve setting up our bigger drill that can get to 3000 metres,” he said.
    “We’ll add the bore casing and drill fluid handling system and the aim is to drill to 400 metres. After that the target is to drill 1000 metres per year, which will put us on track to reach bedrock by 2029.”
    Mr Gallagher said it had been a remarkable season of achievements.
    “Thanks to our highly motivated and skilled teams the inland station is well established and the drill tents are up and ready to go,” he said.
    Read more about the MYIC project in this season’s Drilling Diary and our special feature Secrets of the Ice.
    This content was last updated 9 hours ago on 12 May 2025.

    MIL OSI News

  • MIL-OSI Global: Philosopher Hannah Arendt provokes us to rethink what education is for in the era of AI

    Source: The Conversation – Canada – By Paul Tarc, Professor, Critical Policy, Equity and Leadership Studies, Western University

    Arendt urged people to question how the human-constructed world can be passed on and ‘set right’ across time. (Barbara Niggl Radloff/Wikipedia), CC BY-SA

    In the 1954 essay The Crisis in Education, German-American philosopher Hannah Arendt argued that crisis can act as an opportunity to revisit questions that have produced presumed and outdated answers.

    Arendt was concerned with how the loss of tradition and authority in larger social and political spheres was reflected in the adoption of child-centred learning in public schooling in the United States.

    She argued that, in education, educators must maintain their authority, which ultimately rested on their taking responsibility for the world and for children. Arendt urged people grappling with “why Johnny can’t read” to leave behind their pre-judged answers, and instead return to the very “essence of education.” For Arendt, this centred on how the human-constructed world can be passed on and “set right” with each new generation and across time.

    The rapid advances in artificial intelligence (AI) presents a new crisis for the world and for education. Following Arendt, the crises that AI portends is a new vantage — or a rupture — to return to the question of what education is for.

    Rupture of AI

    Technologies have always mediated our understandings and practices of education: not only hardware or pencils, but writing itself can be understood as a technology. In our time, however, AI represents a qualitative rupture in contemporary practices and understandings of education.

    As Yuval Noah Harari has argued, AI should be better understood as an agent than a tool. As an agent, it is designed and evolving as a self-learning entity able to make independent decisions; it alters past interdependencies of humans and technology.

    Facing the impacts and intervention of AI, school policy experts, administrators and educators are pressed to react fairly quickly to try and maintain our favoured practices.

    For example, we try to tweak our practices of assessment in the face of new AI technologies like ChatGPT. A major concern is students “cheating” on assessments and unfairly or illegitimately advancing through school. This knee-jerk approach by educators to tackle the use of AI reflects a dominant, taken-for-granted answer about the purpose of education: that schooling is a mechanism to filter and sort young generations for a merit-based society.

    Concern around how AI is affecting student assessment and potential student cheating reflects assumptions about school as a place that filters students into different groups.
    (Shutterstock)

    Could AI itself be used to catch cheating? Canadian computer science professor Mark Daley doesn’t think so. He writes: “Instead of chasing technological silver bullets, educators need to confront the harder questions: Why are students cheating? … How do we foster a culture of learning rather than one of grade-chasing?”

    Beyond fair grade chasing

    Generally, there is a lot of agreement on the need to go in the direction that Daley recommends.

    For example, the Organization for Economic Co-operation and Development (OECD) has most recently included “global competence” into its global standardized testing of students. The OECD acknowledges the importance of learning processes, as well as outcomes, and of critical thinking and values like individual responsibility.

    The International Baccalaureate (IB), created in the field of international schools in the 1960s, has now penetrated into both public and private systems across the globe. Although it began as the International Schools Examination Syndicate, its longstanding aspirational vision of creating a better world through a humanist education of the whole person has carried through into the 21st century.

    Both of these more learner-centred visions for education, however, remain founded on these “filtering” uses of education. The IB’s very growth and sustainability and distinction lies in the positional advantage it affords its users. The OECD, more directly, reflects neoliberal, “human capital” conceptions of education that imply students are resources to be developed for the growth of a country’s economy.

    I believe we must go further than (better) assessments of higher-order thinking and processes of learning designed to filter students more creatively and/or efficiently for work. We must nurture an educational orientation over an instrumental one.

    High stakes

    The stakes are high beyond education, because AI portends great disruptions to political economy, work and the organization of human societies. AI and automation might mean that human labour becomes an ever-lower percentage of overall labour and economic productivity. Will our political processes be largely determined by wealthy owners and partners of the AI industry, or by more democratic processes?

    These possible transformations demand a reorientation of educational purpose to inform both school policies pertaining to uses of AI and data, and school curricula and teaching in classrooms.

    Many teachers want to foster critical thinking and student participation over grade chasing in schools. This remains an important goal. But, more fundamentally, schools need to become educational spaces where the concept of cheating, or unfairly beating someone else, becomes senseless.

    In this altered scenario, teachers and students would spend their time together in school examining, as Arendt said, “what the world is like,” how they are located within it and how it might be renewed and passed on across generations.

    A shelter for thinking

    Educators might take the opportunity to reconsider the function of schooling as educating children and youth to come to know, and participate in, a common world facing multiple crises. They are to be introduced to this world, in all its complexity, so that they develop understanding and care for the world and thereby choose to take responsibility for renewing and re-setting it, as adults.

    In returning to Arendt’s question on the essence of education, education researcher Mario Di Paolantonio’s introduces an updated answer for schooling in articulating what is educational in schooling in a world under crises.

    In his view, education provides a place, a “unique human dwelling, where we can maintain and give shelter to a thinking and engagement with ‘something more’ that sustains the hope and affirmation of nevertheless living on with significance.” It offers “a place for passing time together, for sheltering a repertoire of worldly artefacts, common visions, interpretations and aspirations.”

    “These,” he writes, “can be brought into meaningful configurations gathered from the meaningful patterns of the past to help us tend, mend and repair the sense and pull of the world that wears down from generation to generation.”

    Paul Tarc receives funding from Social Science and Humanities Research Council Insight Grant Program and Faculty of Education, Western University

    ref. Philosopher Hannah Arendt provokes us to rethink what education is for in the era of AI – https://theconversation.com/philosopher-hannah-arendt-provokes-us-to-rethink-what-education-is-for-in-the-era-of-ai-247316

    MIL OSI – Global Reports

  • MIL-OSI USA: Senators Warren, Banks, in Bipartisan Letter, Push DOJ to Investigate High Egg Prices, Anticompetitive Behavior by Egg Producers

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren
    May 09, 2025
    Warren (D-Mass.) and Banks (R-Ind.) raise concerns about major egg producers jacking up prices, raking in record profits while blaming bird flu
    After previous letter led by Warren, DOJ opened probe into potential anticompetitive behavior by egg producers
    Text of Letter (PDF)
    Washington, D.C. – In a new bipartisan letter, U.S. Senators Elizabeth Warren (D-Mass.) and Jim Banks (R-Ind.) applauded the Department of Justice’s (DOJ) ongoing investigation into potential anticompetitive practices by major egg producers and urged the agency to continue its thorough investigation as egg prices continue to rise.
    “Large egg producers and trade associations have previously been found liable for price fixing,” wrote the senators. “Given this history, we urge DOJ to thoroughly review whether recent trends in egg prices reflect impermissible coordination among egg producers and trade associations.”
    The average retail price of a dozen eggs has reached unprecedented levels, surpassing $6 in March 2025, tripling since 2021. While egg producers and trade associations continue to point to recent bird flu outbreaks as the reason for increased prices, large egg producers, like Cal-Maine, are reporting record profitability while families feel economic pain.
    The cost of eggs started to drop from record peaks just after the DOJ announced an investigation into egg prices, raising concerns as to whether large egg producers are engaging in anticompetitive behaviors to raise prices or restrict supply. A federal jury previously found that large egg producers and trade groups increased egg prices by conspiring to artificially limit the supply of hens between 2004 and 2008. Another lawsuit alleges that Cal-Maine inflated egg prices after a 2015 bird flu outbreak and during the onset of the Covid-19 pandemic.
    The five largest egg producers — CalMaine Foods, Rose Acre Farms, Daybreak Foods, Hillendale Farms, and Versova Holdings — control nearly half of the U.S. egg-laying flock, leaving Americans with limited alternatives to purchase eggs if companies are in fact price-gouging consumers.
    The senators requested that the DOJ address their concerns, including if price increases in the egg market can be reasonably explained by bird flu-related supply chain disruptions; how much the five largest egg producers profited during the first three-quarters of fiscal year 2025; if large egg producers’ purchasing patterns potentially reflect an effort to extend the egg supply shortage and maintain high prices; and whether the decline in egg prices following the DOJ’s announcement reflects potential price-fixing among large egg producers.
    “We support DOJ’s investigation into potential anticompetitive behavior by egg producers and urge the agency to consider whether a ‘precipitous drop’ in egg prices just ‘days’ after reports of the investigation broke suggests that egg producers had conspired to artificially inflate prices,” concluded the senators.
    DOJ announced its probe following a January letter Sen. Warren sent to Donald Trump, pressing him to use tools to lower egg prices, including “encouraging DOJ to prosecute actors in the agricultural and food sectors for price-fixing and other anticompetitive behavior.”
    Senators Warren and Banks recently teamed up to open a bipartisan investigation into the harms of private equity roll-ups of fire truck manufacturers. The lawmakers wrote to the International Association of Fire Fighters (IAFF), North America’s largest union of firefighters, seeking information about the adverse impact of private equity consolidation on firefighters and communities in Massachusetts, Indiana, and across the country. 

    MIL OSI USA News

  • MIL-OSI: Inuvo Posts Record Q1 2025 Revenue of $26.7M, up 57% Year-Over-Year

    Source: GlobeNewswire (MIL-OSI)

    LITTLE ROCK, Ark., May 09, 2025 (GLOBE NEWSWIRE) — Inuvo, Inc. (NYSE American: INUV), a leading provider of artificial intelligence AdTech solutions, today provided a business update and announced its financial results for the first quarter ended March 31, 2025.

    First Quarter 2025 Financial Highlights:

    • Revenue was a record $26.7 million; a 57% increase compared to $17.0 million in Q1. 2024; highest revenue in the Company’s history.
    • Gross profit increased 41% to $21.1 million, compared to $14.9 million in Q1 2024.
    • Net loss per share was $0.01 compared to $0.02 in the prior year.  
    • Adjusted EBITDA loss was $22 thousand, compared to a loss of $1.0 million for Q1 2024.

    First Quarter 2025 Operational Highlights:

    • The company launched the enhanced IntentKey Self-Serve Platform, an advanced AI agent for audience discovery and targeting.
    • The company added 20 new IntentKey clients and now has 15 self-service clients. 
    • The company introduced IntentKey zip code-level audience insights and targeting.
    • The company materially grew both Platform and the Agencies & Brands product lines. 

    Richard Howe, CEO of Inuvo, stated, “I’m thrilled to announce another record quarter, our second consecutive, with 57% year-over-year growth driven by both product lines. As Q1 is typically our weakest quarter, this strong performance sets a positive tone for the year ahead.” Mr. Howe added, “Our Platform product is benefiting from technology and service enhancements initiated in late 2023, while Agencies & Brands are thriving with enhanced capabilities that enable marketers to quickly identify and target virtually any audience they can conceive, in minutes.”

    Financial Results for the First Quarter Ended March 31,2025

    Net revenue for the first quarter of 2025 totaled $26.7 million, compared to $17.0 million for the same period last year. The increase in revenue for the three-month period ended March 31, 2025, compared to the same period in the prior year came from a 61% increase within Platforms and a 31% increase within Agencies & Brands.

    Cost of revenue for the first quarter of 2025 totaled $5.6 million, compared to $2.1 million for the same period last year. The increase in the cost of revenue for the three months ended March 31, 2025, as compared to the same period last year, was related to higher Platform revenue and the introduction of a new product.

    Gross profit for the three months ended March 31, 2025, totaled $21.1 million as compared to $14.9 million for the same period last year. Gross profit margin for the three months ended March 31, 2025, was 79% as compared to 87.7% for the same period last year. The lower gross margin was due to changes in product mix.

    Operating expenses for the three months ended March 31, 2025, totaled $22.9 million compared to $17 million for the same period last year. Operating expenses are composed of marketing costs, compensation and general & administrative expenses. For the three-months ended March 31, 2025, all three categories of operating expense increased year-over-year.

    Marketing costs increased due to the higher expenses associated with Platform revenue growth. Compensation expense was higher due primarily to a one-time accrual of an employee benefit of $335,000 and to higher incentive accrual. General and administrative expense was $1.1 million higher year-over-year primarily due to a reduction of the allowance for expected credit losses last year.

    Finance expense, net of interest income, for the three months ended March 31, 2025, was $28 thousand compared to $20 thousand in the same quarter last year. Finance expense this year included $77 thousand of interest income from the Internal Revenue Service (IRS) for a delayed employee retention credit.

    Other income was approximately $541 thousand for the three months ended March 31, 2025 in comparison with $0 for the same quarter in 2024. In March 2025, the Company received a payment from the IRS totaling $610 thousand in connection with an employee retention credit filed in 2023. Of the total payment, $533 thousand was recognized in other Income.

    Net loss for the first quarter of 2025 was $1.3 million, or $0.01 per basic and diluted share, as compared to net loss of $2.1 million, or $0.02 per basic and diluted share, for the same period last year.

    Adjusted EBITDA [see reconciliation table below] was near break-even at a loss of approximately $22 thousand in the first quarter of 2025 compared to a loss of approximately $1.0 million for the same period last year.

    Liquidity and Capital Resources:

    On March 31, 2025, Inuvo had $2.6 million in cash and cash equivalents, an unused working capital facility of $10.0 million and no debt.

    As of May 2, 2025, Inuvo had 144,253,434 common shares issued and outstanding.

    Conference Call Details: 

    Date: Friday, May 9, 2025
    Time: 8:30 a.m. Eastern Time
    Toll-free Dial-in Number: 1-800-717-1738
    International Dial-in Number: 1- 646-307-1865
    Conference ID: 11109974
    Webcast Link: HERE

    A telephone replay will be available through Friday, May 23, 2025. To access the replay, please dial 1- 844-512-2921 (domestic) or 1- 412-317-6671 (international). At the system prompt, please enter the code 11109974 followed by the # sign. You will then be prompted for your name, company, and phone number. Playback will then automatically begin.

    About Inuvo
    Inuvo®, Inc. (NYSE American: INUV) is a market leader in Artificial Intelligence built for advertising. Its IntentKey® AI solution is a first-of-its-kind proprietary and patented technology capable of identifying and actioning to the reasons why consumers are interested in products, services, or brands, not who those consumers are. To learn more, visit www.inuvo.com.

    Safe Harbor / Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Inuvo’s quarter-end financial close process and preparation of financial statements for the quarter that are subject to risks and uncertainties that could cause results to be materially different than expectations. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including, without limitation risks detailed from time to time in our filings with the Securities and Exchange Commission (the “SEC”), and represent our views only as of the date they are made and should not be relied upon as representing our views as of any subsequent date. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in Inuvo, Inc.’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 as filed on February 27, 2025, and our other filings with the SEC.  Additionally, forward looking statements are subject to certain risks, trends, and uncertainties including the continued impact of Covid-19 on Inuvo’s business and operations. Inuvo cannot provide assurances that the assumptions upon which these forward-looking statements are based will prove to have been correct. Should one of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements, and investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date. Inuvo does not intend to update or revise any forward-looking statements made herein or any other forward-looking statements as a result of new information, future events or otherwise. Inuvo further expressly disclaims any written or oral statements made by a third party regarding the subject matter of this press release. The information which appears on our websites and our social media platforms is not part of this press release.

    Inuvo Company Contact:
    Wally Ruiz
    Chief Financial Officer
    Tel (501) 205-8397
    wallace.ruiz@inuvo.com 

    (Tables follow)

    INUVO, INC.
    CONSOLIDATED STATEMENTS OF OPERATIONS
        Three Months Ended
        March 31   March 31
          2025       2024  
    Net revenue   $ 26,708,032     $ 17,023,777  
    Cost of revenue     5,620,941       2,099,042  
    Gross profit     21,087,091       14,924,735  
    Operating expenses:        
    Marketing costs     17,512,994       13,102,644  
    Compensation     3,599,321       3,224,859  
    General and administrative     1,744,563       688,510  
    Total operating expenses     22,856,878       17,016,013  
    Operating loss     (1,769,787 )     (2,091,278 )
    Interest expense, net     27,929       20,380  
    Other income     (540,571 )      
    Income tax expense     2,676        
    Net loss   $                (1,259,821 )   $                (2,111,658 )
    Other comprehensive income:        
    Unrealized gain (loss) on marketable securities            
    Comprehensive income (loss)   $                (1,259,821 )   $                (2,111,658 )
                 
    Net loss per share, basic and diluted   ($ 0.01 )   ($ 0.02 )
    Weighted average shares outstanding:        
    Basic     142,719,274       138,789,669  
    Diluted     142,719,274       138,789,669  
                     
    INUVO, INC.  
    CONDENSED CONSOLIDATED BALANCE SHEETS  
               
               
        March 31   December 31  
          2025     2024  
    Assets          
               
    Cash and cash equivalent   $ 2,561,993   $ 2,459,245  
    Accounts receivable, net     12,022,440     12,545,771  
    Prepaid expenses and other current assets     738,995     639,805  
    Total current assets     15,323,428     15,644,821  
               
    Property and equipment, net     1,793,966     1,792,903  
               
    Goodwill     9,853,342     9,853,342  
    Intangible assets, net of accumulated amortization     3,777,499     3,897,875  
    Other assets     943,956     1,006,990  
               
    Total assets   $ 31,692,191   $ 32,195,931  
               
    Liabilities and Stockholders’ Equity          
               
    Current liabilities          
    Accounts payable   $ 7,257,005   $ 8,422,351  
    Accrued expenses and other current liabilities     10,221,581     9,463,537  
    Total current liabilities     17,478,586     17,885,888  
               
    Long-term liabilities     766,891     835,271  
               
    Total stockholders’ equity     13,446,714     13,474,772  
    Total liabilities and stockholders’ equity   $ 31,692,191   $ 32,195,931  
    RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA
    (unaudited)
             
        Three Months Ended
        March 31   March 31
          2025       2024  
    Net loss   $                              (1,259,821 )   $                              (2,111,658 )
    Interest expense, net     27,929       20,380  
    Income tax expense     2,676        
    Depreciation and amortization                                        568,042                                          673,203  
    EBITDA     (661,174 )     (1,418,075 )
    Stock-based compensation     304,284       396,312  
    Non recurring items:        
    Employee Benefit     335,000        
    Adjusted EBITDA   $                                    (21,890 )   $                              (1,021,763 )
                     

    Reconciliation of Net Loss to EBITDA and Adjusted EBITDA 

    We present EBITDA and Adjusted EBITDA as a supplemental measure of our performance. We defined EBITDA as Net loss plus (i) interest expense, (ii) depreciation, and (iii) amortization. We further define Adjusted EBITDA as EBITDA plus (iv) stock-based compensation and (v) certain identified expenses that are not expected to recur or be representative of future ongoing operation of the business. These adjustments are itemized above. You are encouraged to evaluate these adjustments and the reasons we consider them appropriate for supplemental analysis. In evaluating EBITDA and Adjusted EBITDA, you should be aware that in the future we may incur expenses that are the same or similar to some of the adjustments in the presentation. Our presentation of EBITDA and Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items.

    The MIL Network

  • MIL-OSI: Himax to Debut Breakthrough Ultra-Luminous Miniature Dual-Edge Front-lit LCoS Microdisplay at SID Display Week 2025

    Source: GlobeNewswire (MIL-OSI)

    TAINAN, Taiwan, May 09, 2025 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (Nasdaq: HIMX) (“Himax” or “Company”), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, today announced the unveiling of its miniature ultra-luminous Dual-Edge Front-lit LCoS microdisplay at Display Week 2025. Organized by the Society for Information Display (SID), Display Week is one of the premier symposiums and exhibitions in the display industry and taking place May 11–16, 2025 in San Jose. Himax Senior Director, Simon Fan-Chiang will deliver an in-depth presentation on this cutting-edge technology during Session 3 of the symposium on May 13.

    Himax’s proprietary Dual-Edge Front-lit LCoS microdisplay integrates both the illumination optics and LCoS panel into an exceptionally compact form factor, as small as 0.09 c.c., and weighing only 0.2 grams, while targeting up to 350,000 nits brightness and 1 lumen output at just 250mW maximum total power consumption, demonstrating unparalleled optical efficiency. With a 720×720 resolution and 4.25µm pixel pitch, it delivers outstanding clarity and color vibrancy in a miniature footprint. The microdisplay’s compact and power-efficient design enables significantly smaller form factors without compromising brightness, clarity, or color, redefining the boundaries of high-performance miniature optics. With industry-leading compact form factor, superior brightness and power efficiency, it is ideally suited for next-generation AR glasses and head-mounted displays where space, weight, and thermal constraints are critical.

    “We are proud to introduce our state-of-the-art Dual-Edge Front-lit LCoS microdisplay, a true milestone in display innovation,” said Jordan Wu, CEO of Himax. This achievement is the result of years of rigorous development, delivering an industry-leading combination of ultra-compact size, extremely lightweight design, high brightness, and exceptional power efficiency to meet the demanding needs of AR device makers. We believe this breakthrough technology will be a game-changer for next-generation AR applications.”

    About Himax Technologies, Inc.

    Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company’s display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company’s industry-leading WiseEye™ Ultralow Power AI Sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Germany, and the US. Himax has 2,603 patents granted and 389 patents pending approval worldwide as of March 31, 2025.

    http://www.himax.com.tw

    Forward Looking Statements

    Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those risks identified in the section entitled “Risk Factors” in its Form 20-F for the year ended December 31, 2024 filed with the SEC, as may be amended.

    Company Contacts:

    Karen Tiao, Head of IR/PR
    Himax Technologies, Inc.
    Tel: +886-2-2370-3999
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw

    Mark Schwalenberg, Director
    Investor Relations – US Representative
    MZ North America
    Tel: +1-312-261-6430
    Email: HIMX@mzgroup.us
    www.mzgroup.us

    The MIL Network

  • MIL-OSI Europe: Debates – Thursday, 8 May 2025 – Strasbourg – Revised edition

    Source: European Parliament

    Verbatim report of proceedings
     490k  558k
    Thursday, 8 May 2025 – Strasbourg
    1. Opening of the sitting
      2. Composition of political groups
      3. Composition of committees and delegations
      4. 80 years after the end of World War II – freedom, democracy and security as the heritage of Europe (debate)
      5. Old challenges and new commercial practices in the internal market (debate)
      6. Resumption of the sitting
      7. Voting time
        7.1. Arrest and risk of execution of Tundu Lissu, Chair of Chadema, the main opposition party in Tanzania (RC-B10-0260/2025, B10-0260/2025, B10-0261/2025, B10-0262/2025, B10-0263/2025, B10-0264/2025, B10-0265/2025) (vote)
        7.2. Return of Ukrainian children forcibly transferred and deported by Russia (RC-B10-0249/2025, B10-0247/2025, B10-0249/2025, B10-0250/2025, B10-0252/2025, B10-0255/2025, B10-0258/2025) (vote)
        7.3. Violations of religious freedom in Tibet (RC-B10-0248/2025, B10-0248/2025, B10-0251/2025, B10-0253/2025, B10-0254/2025, B10-0256/2025, B10-0259/2025) (vote)
        7.4. Ninth report on economic and social cohesion (A10-0066/2025 – Jacek Protas) (vote)
        7.5. CO2 emission performance standards for new passenger cars and new light commercial vehicles for 2025 to 2027 (vote)
        7.6. The protection status of the wolf (Canis lupus) (vote)
        7.7. The role of gas storage for securing gas supplies ahead of the winter season (A10-0079/2025 – Borys Budka) (vote)
        7.8. Screening of foreign investments in the Union (A10-0061/2025 – Raphaël Glucksmann) (vote)
        7.9. Suspending certain parts of Regulation (EU) 2015/478 as regards imports of Ukrainian products into the European Union (A10-0059/2025 – Karin Karlsbro) (vote)
        7.10. Competition policy – annual report 2024 (A10-0071/2025 – Lara Wolters) (vote)
        7.11. Banking Union – annual report 2024 (A10-0044/2025 – Ralf Seekatz) (vote)
        7.12. Objection pursuant to Rule 115(2) and (3): genetically modified soybean MON 87705 × MON 87708 × MON 89788 (B10-0244/2025) (vote)
        7.13. Old challenges and new commercial practices in the internal market (B10-0246/2025) (vote)
      8. Resumption of the sitting
      9. Approval of the minutes of the previous sitting
      10. EU action on treating and preventing diseases such as cancer, cardiovascular neurological diseases and measles (debate)
      11. Explanations of vote
        11.1. Ninth report on economic and social cohesion (A10-0066/2025 – Jacek Protas)
        11.2. The role of gas storage for securing gas supplies ahead of the winter season (A10-0079/2025 – Borys Budka)
        11.3. Competition policy – annual report 2024 (A10-0071/2025 – Lara Wolters)
        11.4. Old challenges and new commercial practices in the internal market (B10-0246/2025)
      12. Approval of the minutes of the sitting and forwarding of texts adopted
      13. Dates of the next part-session
      14. Closure of the sitting
      15. Adjournment of the session

       

    FORSÆDE: CHRISTEL SCHALDEMOSE
    Næstformand

     
    1. Opening of the sitting

       

    (Mødet åbnet kl. 9:00)

     

    2. Composition of political groups

     

      President. – Volker Schnurrbusch is a member of the ESN Group as of 8 May 2025.

     

    3. Composition of committees and delegations

     

      President. – The ESN Group has notified the President of a decision relating to changes to appointments within committees. This decision will be set out in the minutes of today’s sitting and take effect on the date of this announcement.

     

    4. 80 years after the end of World War II – freedom, democracy and security as the heritage of Europe (debate)


     

      Sebastião Bugalho, on behalf of the PPE Group. – Madam President, in the history books, the post-war world means not just the world after the war, but a world without it.

    Today, 80 years after the surrender of the Nazi regime, we live in a world that faces a darkness most of us can’t recall. 50 million lives in six years made us say ‘never again’. The Second World War confronted mankind with humanity, patriotism with fascism, truth with anger. The Great War was brought to an end with peace, with a hard lesson. Those who chose to resist forgave those who refuse to forget.

    And that, dear colleagues, is the founding principle of our Union. That those who weld against invasion are here bounded together with those who commit, never to commit it again. That those who said we shall never surrender are here side by side with those who say, we shall always remember.

    The Ukrainian people know as we know, that the courage to carry on is the same courage not to let history be rewritten. And we are to keep that in our minds that their fight was once our fight. That their freedom is also our freedom. That their victory will be our peace. They may not be our fathers or our sons, but they are our brothers, our brothers in arms and in rights, our brothers in their hope and in their defiance.

    In this world, in this war, we may be lonely but never alone. 80 years ago we too faced that loneliness and defeated a great evil on this VE Day. Today it’s the survival of freedom, of democracy now and then at stake in our continent.

    So today, from this time and place, let it be known that victory for Europe Day stands not only for the victory that once was, but also for the victory that must be. Let it be known that the torch of history lights this common cause, that the words VE Day will also, and soon enough mean, Slava Ukraini.

     
       

     

      Marc Angel, on behalf of the S&D Group. – Madam President, dear colleagues, 80 years ago, the guns fell silent across Europe, marking the end of the most devastating war our continent has ever known. And today we honour the memory of those who were murdered, who suffered and perished. And we reflect also on the long, difficult path from destruction to peace.

    Out of the ashes of conflict, Europe chose reconciliation over revenge. Former enemies reached out in solidarity, laying the foundations for a united, peaceful continent. The European Union stands today not only as a political and an economic alliance, but as a powerful symbol of what unity, mutual respect and shared values can achieve.

    Today, this legacy is under threat. Across our continent, the far right and nationalism are once again gaining ground, fuelling hatred and division. But we must not forget where such ideologies once led us. The horrors of the past are not just history – they are warnings.

    On this important anniversary, let us reaffirm our commitment to a strong, united Europe, one that champions peace, democracy, equality and the dignity of all its people. Let our history be our guide and our unity be our strength.

    Today we must also pay tribute to the brave people of Ukraine, victims of the brutal aggression of Russia’s autocratic regime.

     
       

     

      Kinga Gál, a PfE képviselőcsoport nevében. – Elnök Asszony! A második világháború elképzelhetetlen pusztítása és szenvedése után Európa romokban hevert. Soha többé! Az alapító atyák, felismerve a pusztítás következményeit, létrehozták a közös Európát, melynek fő célja a tartós béke, biztonság és jólét biztosítása kontinensünkön. A májusi örömünnepnek nyolcvan éve, a háború vége viszont nem hozott valódi békét és jólétet minden európai nemzetnek. Hiszen Közép-Kelet-Európában, így nekünk, magyaroknak nem ért véget a szenvedés. A kommunizmus sötét évei következtek, férfiak és nők ezreinek gulágra hurcolása, kitelepítések, megtorlás, politikai tisztogatások és a szabadság korlátozása tartották félelemben az embereket még évtizedekig.

    Szüleink és nagyszüleink, de még a mi emlékezetünkben is ezek az érzések ma is élénken élnek. Méltán vágytak tehát az Unióba, a vasfüggönyön túlra, ami a szabadság, béke, biztonság és jólét szimbóluma volt számukra. Erre viszont még sokáig, 2004-ig várni kellett, ezért érint meg minket különösen fájdalmasan, ha úgy érezzük, hogy ezek az értékek most veszélyben vannak, hiszen béke helyett háború dúl a szomszédunkban. Biztonság helyett az illegális migráció egyre nagyobb fenyegetést jelent a közbiztonságra. Jólét helyett pedig gazdasági gyengüléssel kell szembenéznünk. Vissza kell térnünk az alapokhoz: a kölcsönös tiszteletre és szuverén nemzetek jóhiszemű együttműködésére épülő Unióhoz. Amely nem kioktat, hanem tisztel és támogat. Csak így maradhat Európa továbbra is a béke, a biztonság és a jólét otthona.

     
       

     

      Patryk Jaki, on behalf of the ECR Group. – Madam President, on the 80th anniversary of the end of World War II, you are talking about responsibility, courage, justice. But those are only words. We are still waiting for action. Poland, the country where the war was started, was divided between Germany and Russia after the Ribbentrop‑Molotov Pact. From the first to the last day of the war, Poland was on the right side. It had no institutional collaborators and lost almost 30 % of its pre-war resources – the most in Europe – and six million citizens. One third of this territory was taken and given to Russia.

    Until today, Poland has not received any reparation – no real compensation, only symbolic. Instead of giving justice and equal chances to Polish citizens, instead of helping new generations of Poles who should not pay for the fact that their parents stayed on the right side and did not collaborate with evil, the EU spent billions on silly ideology because the Earth will burn. This is not responsibility or justice which you are talking about so much. This unfair advantage built through a barbaric attack on the other nations must finally be reduced. This is not only about Poland, but also about Greece, the Baltic states and other victims.

    This 80th anniversary should finally bring real action to clean this stain. It is time to create compensation and an equal‑opportunity budget in Europe instead of a special budget for green ideology. To make up for the guilt, the effects of the evil must be removed completely.

     
       

     

      Marie-Pierre Vedrenne, au nom du groupe Renew. – Madame la Présidente, chers collègues, héritière de celles et de ceux qui ont vécu la guerre et la barbarie au plus profond de leur chair, héritière du silence autour de ces blessures enfouies et longtemps tues, je commémore aujourd’hui et avec vous, ici, dans cet hémicycle de Strasbourg, les héros dont les noms traversent nos manuels et nos rues, comme les anonymes restés dans l’ombre de la Seconde Guerre mondiale.

    Être héritière de ces morts et traumatismes, c’est se voir conférer une responsabilité sacrée: celle de ne jamais être un simple témoin, ni dans le présent, ni dans l’avenir. Être héritière de celles et de ceux qui ont œuvré pour la liberté, un projet de réconciliation, c’est se voir assumer un devoir exigeant, celui de ne jamais céder au «deux poids, deux mesures».

    Être héritière d’une anonyme, en ce 8 mai 2025, c’est faire entendre, en se tenant devant vous, que cet anniversaire nous engage, nous, parlementaires européens. C’est un appel à regarder en face la réalité brutale du monde, un appel à nous battre à notre tour pour la démocratie, pour la liberté, pour la sécurité, pour l’universalisme, et ceci pour tous nos héritiers.

     
       

     

      Thomas Waitz, on behalf of the Verts/ALE Group. – Madam President, colleagues, the Second World War was raw brutality. It was demonisation and dehumanisation of big parts of society. It was devastating warfare, total destruction and mass murder. That’s what it was. Fascism didn’t happen overnight. It was carefully woven into parts of society or into society, piece by piece, many years before the Nazis took over Germany and Austria, driven by blind hatred, by white supremacy and racism. Countless people were targeted and killed.

    But based on acknowledgement of crime, reconciliation and forgiveness, we are building this, our European Union. Yes, to forgive, but never to forget. Because remembrance is not an act of the past, it’s a pact with the future.

    But, colleagues, somehow I have the impression that we did not learn. Once again, strong men have returned – in the US, in Russia, in China, in Hungary. Based on hatred and on disrespect for human rights, we once again see the rising forces of anti-democratic and anti-human policies. Even here in this House we hear hate speech, we hear blunt, fearmongering propaganda.

    But freedom is still strong and the fight for freedom is still strong. The freedom to love who you love, the freedom to decide over your own body, the freedom to live the life that you want to live, and the freedom to learn from history and the freedom to strive for peace. Because ‘never again’ is now!

     
       

     

      Konstantinos Arvanitis, εξ ονόματος της ομάδας The Left. – Κυρία Πρόεδρε, 80 χρόνια από τη λήξη του Β΄ Παγκοσμίου Πολέμου αλλά και 80 χρόνια από τη μεγάλη αντιφασιστική νίκη. Ας θυμηθούμε, λοιπόν, τις αιτίες. Να ξαναδιαβάσουμε την ιστορία· να μην ξαναγράψουμε την ιστορία όπως επιτάσσουν συμφέροντα, ώστε να μην επαναλάβουμε τα ίδια λάθη γιατί αυτό θα συνιστά έγκλημα στο έγκλημα.

    Να θυμηθούμε πως οι αντιθέσεις του κεφαλαίου σε Ευρώπη και Αμερική ενίσχυσαν, χρηματοδότησαν και γιγάντωσαν τον φασισμό και τον ναζισμό στην ήπειρό μας. Να θυμηθούμε και να τιμήσουμε τα θύματα αυτής της θηριωδίας: τους Εβραίους, τους κομμουνιστές, τους σοσιαλιστές, τους δημοκράτες, τους δημοκράτες αντιναζί, τη ΛΟΑΤΚΙ κοινότητα, τους διαφορετικούς, τους ανήμπορους. Θύματα στο ιδεολόγημα της αθλιότητας περί καθαρής φυλής, αρίας φυλής. Να τιμήσουμε τα εκατομμύρια των θυμάτων, απλούς στρατιώτες, νέα λαϊκά παιδιά που δεν χάρηκαν τη ζωή. Να τιμήσουμε τους παρτιζάνους, τους αντάρτες, τις γυναίκες, τους άνδρες που βγήκαν στα βουνά για να αντισταθούν και να αντιμετωπίσουν τη ναζιστική φασιστική θηριωδία.

    Η χώρα μου, μια μικρή χώρα, έχασε το ένα έβδομο του πληθυσμού της. Τουλάχιστον 650.000 εκτελέστηκαν, πέθαναν από την πείνα, δολοφονήθηκαν. Κλάπηκε όλος ο ελληνικός θησαυρός και έμειναν πίσω καμένες εστίες, καμένα χωριά, μαρτυρικά χωριά.

    Με αφορμή τη σημερινή επέτειο, εδώ, από το βήμα του Ευρωπαϊκού Κοινοβουλίου, επαναφέρω το θέμα των ελληνικών αξιώσεων που αφορούν αποζημιώσεις και επανορθώσεις για ζημιές που υπέστη η χώρα μου και οι πολίτες της κατά τον Α΄ και Β΄ Παγκόσμιο Πόλεμο, για πολεμικές αποζημιώσεις για τα θύματα, τους απογόνους των θυμάτων της γερμανικής Κατοχής, την αποπληρωμή του κατοχικού δανείου και την επιστροφή των κλοπιμαίων και παράνομα αφαιρεθέντων αρχαιολογικών και πολιτιστικών αγαθών. Από τη χώρα μου, την Ελλάδα, που σήκωσε το ανάστημά της απέναντι στον ναζισμό και τον φασισμό. Είναι δίκαιο· και η Ευρώπη χωρίς δικαιοσύνη δεν υπάρχει.

     
       

     

      René Aust, im Namen der ESN-Fraktion. – Frau Präsidentin! Am 8. Mai 1945 endete mit der bedingungslosen Kapitulation der Wehrmacht die militärische Herrschaft des Nationalsozialismus. Auch in diesem Jahr gedenken wir der Millionen gefallenen Soldaten und getöteten Zivilisten des Zweiten Weltkrieges. Wir erkennen zunehmend auch die doppelte Bedeutung dieses Tages an: Der 8. Mai bedeutete für Westeuropa langfristig Freiheit, für Mittel‑ und Osteuropa jedoch die Zementierung einer 45-jährigen russischen Gewaltherrschaft.

    Richard von Weizsäcker verwies in seiner berühmten Rede am 8. Mai 1985 zu Recht darauf, dass dieser Tag untrennbar mit dem 30. Januar 1933, dem Beginn der nationalsozialistischen Diktatur, verbunden sei. Aber das ist nur ein Teil. Denn so gewiss der 8. Mai das Ende der NS‑Diktatur markierte, so gewiss schuf er zugleich die Grundlage für kommunistische Diktaturen. Ohne den 8. Mai 1945 hätte es durch Russland keine Verschleppung zehntausender baltischer Familien im März 1949 gegeben, keine russische Niederschlagung des Volksaufstandes in der DDR am 17. Juni 1953, keinen russischen Einmarsch in Ungarn 1956, keine russischen Panzer in Prag 1968 und keine Unterdrückung der Solidarność‑Bewegung in Polen.

    Heute gedenken wir der Opfer des Zweiten Weltkriegs vom 1. September 1939 bis zum 8. Mai 1945. Zugleich danken wir allen Männern und Frauen, die in Mittel‑ und Osteuropa nach dem 8. Mai 1945 mutig gegen die kommunistische Diktatur und die russische Vorherrschaft aufgestanden sind. Ihr Einsatz für Freiheit und nationale Selbstbestimmung bleibt ein unverzichtbarer Teil des europäischen Erbes.

     
       


     

      Javi López (S&D). – Señora presidenta, hoy conmemoramos el 80.º aniversario del fin de la Segunda Guerra Mundial, la guerra que desoló Europa, que mostró la cara más cruel del ser humano y de los espeluznantes horrores de los que somos capaces, de los que el hombre es capaz. La guerra no solo asesina a los vivos, acaba perdurando sobre las futuras generaciones.

    Hoy enormes cicatrices de esta guerra perduran aquí, en Europa. De aquella oscuridad y de las cenizas de esa guerra construimos las instituciones que hoy disfrutamos, la Europa de la paz y la dignidad, de la democracia y las libertades: la Europa de la reconciliación.

    Es una Europa que vuelve a estar amenazada por el totalitarismo y el autoritarismo que padecimos entonces, de líderes autoritarios que desde fuera amenazan la seguridad europea, de líderes autoritarios que también tienen peones aquí, en las instituciones europeas, y que amenazan con liquidar la democracia y las libertades que hoy disfrutamos. Son autoritarios que utilizan las mismas ideas e instrumentalizan el aislamiento, el miedo y la mentira para sembrar el odio frente a lo que nosotros reivindicamos: la verdad, la justicia y la memoria. Una Europa unida es la única respuesta frente a la barbarie.

     
       

     

      Hermann Tertsch (PfE). – Señor presidente, hace ochenta años la derrota militar del nacionalsocialismo alemán cerró una de las páginas más monstruosas de la historia de la humanidad, generada, recuérdenlo, en Europa y por Europa. Fue la nación de los poetas y los pensadores la causante del genocidio industrializado que fue el Holocausto del pueblo judío y el incendio de todo el continente. Fue la arrogancia del idealismo totalitario la que prima la utopía humana sobre la sacralidad de la vida hasta caer al agujero negro del crimen total.

    Iban al mundo ideal. «Am deutschen Wesen soll die Welt genesen»: la esencia alemana sanará al mundo. Resuena inquietante en la arrogancia de los que hoy marginan al discrepante. Aquella guerra mató a sesenta millones de personas. El nazismo sucumbió en doce años, pero quedó el comunismo, la otra ideología redentora en pos del ideal que solo genera infiernos. El comunismo asesinó a más de cien millones, sigue hoy vivo y presente y está también aquí en esta sala. Porque el 8 de mayo se liberó una parte de Europa, pero, en la otra, solo se cambió una tiranía por la otra.

    El comunismo se transformó y, si en Rusia tenemos una oligarquía agresora y criminal, hoy en Occidente lo tenemos disfrazado de ingeniería social, del igualitarismo colectivista, del socialismo que persigue los mismos fines. En honor de tantos millones de víctimas, defendamos la libertad y la verdad, las armas supremas frente a ideologías redentoras, totalitarias y criminales siempre.

     
       

     

      Adrian-George Axinia (ECR). – Doamnă președintă, există un citat anonim celebru care descrie cumva ciclicitatea războiului pe tărâm european: „Vremurile bune creează oameni puternici, oamenii puternici creează vremuri bune. Vremurile bune creează oameni slabi și oamenii slabi creează vremuri grele.”

    Într-o Europă a prosperității, la 80 de ani de la sfârșitul celui de-al Doilea Război Mondial, cu o inconștiență veselă, proiectul nostru se îndreaptă pe bâjbâite către un nou conflict paneuropean. Și asta din cauza unei conduceri a Uniunii Europene rupte de realitate și de voința cetățenilor europeni.

    M-am bucurat să aud vorbindu-se despre ce am reușit să construim în ultimii 80 de ani pe continent: libertate, prosperitate, securitate. Era bine dacă insistam pe cuvântul pace, care lipsește din descrierea acestui eveniment. Cât despre democrație, aș fi vrut să văd în ultima jumătate de an mai multe reacții față de abuzurile antidemocratice comise de puterea politică din România. Nu cum a făcut Bruxelles-ul, care a închis ochii sau chiar a aplaudat anularea voinței cetățenilor români. Din fericire, vocea lor s-a făcut auzită pe 4 mai și se va face auzită și pe 18 mai.

     
       

     

      Marie-Agnes Strack-Zimmermann (Renew). – Frau Präsidentin! „Es ist geschehen, und folglich kann es wieder geschehen.“ – So warnte der italienische Schriftsteller und Auschwitzüberlebende Primo Levi davor, den Zivilisationsbruch der Nazis zu vergessen, denn das Ende des Zweiten Weltkriegs erinnert an die Befreiung vom nationalsozialistischen Terror. Und daher erinnern wir auch an die Jahre vor 1945. Wie konnten zivilisierte Menschen zu diesem Grauen fähig sein? 80 Jahre später wird in Deutschland die AfD vom Verfassungsschutz als rechtsextrem eingestuft. Rechte Kräfte sind in ganz Europa seit Jahren auf dem Vormarsch. In den USA regiert ein Präsident, der offensichtlich das Autoritäre liebt.

    Liebe Kolleginnen und Kollegen, die EU ist das größte und wunderbarste Friedensprojekt der Welt. Gerade uns sollte die Vergangenheit mahnen, was passieren kann, wenn Demokratien zerbrechen und autoritäre Regime an ihre Stelle treten. Lassen Sie uns deswegen wehrhaft sein, nach außen wie nach innen, damit das, was geschehen ist, nie wieder geschieht.

    (Die Rednerin ist damit einverstanden, auf mehrere Fragen nach dem Verfahren der „blauen Karte“ zu antworten.)

     
       

     

      Arkadiusz Mularczyk (ECR), pytanie zadane przez podniesienie niebieskiej kartki. – Pani Poseł! Jest Pani przedstawicielką narodu, państwa, które wywołało II wojnę światową, wyrządziło ogromne cierpienia dla mojego narodu, dla Polski, ale również dla innych narodów europejskich, dla Grecji.

    Dlaczego Niemcy nie chcą zapłacić reparacji wojennych Polsce – odszkodowania za II wojnę światową?

    Państwa naród, naziści, wymordowali 6 milionów Polaków, zniszczyli Polskę i do dzisiaj nie chcą się z Polską rozliczyć. Kiedy zapłacicie swój dług wobec Polski i Grecji?

     
       

     

      Marie-Agnes Strack-Zimmermann (Renew), Antwort auf eine Frage nach dem Verfahren der „blauen Karte“. – Vielen Dank für Ihre Einlassung. Deutschland hat gerade nach dem Fall der Mauer mit Unterstützung der Vereinigten Staaten, der Franzosen und auch der Briten gelernt, was Demokratie bedeutet. Ich glaube, wenn ich zurückschaue nach 80 Jahren, dass wir im Austausch mit unseren Nachbarn, mit unseren Nationen alles getan haben, was man tun muss, um in Frieden und Freiheit gemeinsam zu leben. Und deswegen: Ja, ich stehe hier als deutsche Staatsbürgerin, und ich war seinerzeit noch nicht geboren. Wir haben in Deutschland die Geschichte 80 Jahre lang – und das ist gut so – aufgearbeitet, bis heute. Ich bezweifle, dass es Länder gibt, wo die Geschichte des Mittuns aufgearbeitet worden ist. Wir haben es getan, und wir werden in Deutschland dafür sorgen, dass nie vergessen wird, was die Nazis diesem Kontinent und darüber hinaus angetan haben. Denn es ist richtig: Über 60 Millionen Menschen haben das Leben verloren. Deutschland ist ein demokratischer Staat, und wir sind in Verantwortung. Wir sind glücklich, hier Teil der Europäischen Union zu sein.

     
       


     

      Marie-Agnes Strack-Zimmermann (Renew), Antwort auf eine Frage nach dem Verfahren der „blauen Karte“. – Sie sind Mitglied einer Partei, die als gesichert rechtsextrem gilt. Ich glaube, Ihre Immunität ist gerade aufgehoben worden – korrigieren Sie mich, wenn das falsch ist. Dass Sie überhaupt die Traute haben, so zu sprechen. Ich habe gerade, wenn Sie zugehört haben, gesagt, in den USA regiert ein Präsident, der offensichtlich das Autoritäre liebt, so wie Sie es lieben. Und ich sage Ihnen: Die Mehrheit in diesem Hause wird nicht zulassen, dass Politiker wie Sie und Ihre Partei – die hier sitzt, die hier sich hat reinwählen lassen, nicht um Europa nach vorne zu bringen, sondern um dieses Europa von innen zu zerstören – diese Europäische Union zerstören. Deswegen sage ich: Wir haben nicht nur nach außen wehrhaft zu sein, sondern auch nach innen, damit solche Politiker wie Sie diese Europäische Union nicht zerstören.

     
       

     

      Nela Riehl (Verts/ALE). – Madam President, what is the most important EU value to you? To that question, young Europeans answered: human rights, democracy and peace. Eighty years after World War II, these values are still our most important heritage.

    But as Russia’s invasion of Ukraine has shown, peace and democracy are not a given – they call for a commitment. A commitment to not remain silent when extremist regimes deliberately starve civilians and commit war atrocities. A commitment from democratic forces to raise strong firewalls against the far right in Europe. And a commitment to remain vigilant when our allies progressively turn their back on democracy, censoring researchers and activists or threatening the rights of minorities and women.

    But what does this actually mean for us? It means we cannot compromise on the freedom of our artists, our universities, our citizens. Europe must remain a hub of creativity, of knowledge and also of democracy, providing equal opportunities for all. It means we cannot let foreign forces interfere in our democratic processes, be it in the ballots or on social media. And it means we cannot be complicit when fundamental rights are being walked over, all in this very Union.

    Turning a blind eye would be a betrayal to the lessons our grandparents painfully learned. Our European Union youth is rightfully demanding us to stay loyal to this heritage. More than a celebration, today’s anniversary is a reminder of Europe’s responsibility.

     
       

     

      Marina Mesure (The Left). – Madame la Présidente, chers collègues, nous ne devons jamais oublier l’horreur de cette guerre. Ne jamais oublier le visage de tous ces innocents qui ont péri dans les camps ou sur les champs de bataille, ni celui de celles et ceux qui ont résisté avec courage pour notre liberté. Ne jamais oublier que cette guerre totale fut provoquée par des régimes d’extrême droite, car, oui, ce qui fait le ciment de nos sociétés européennes est de nouveau menacé. Le retour en force de l’extrême droite met en péril l’unité des peuples en désignant, comme en 1940, des ennemis de l’intérieur et en rejetant l’état de droit, garant des libertés fondamentales. En s’alimentant sur la montée des inégalités, en banalisant les discours de haine, ils créent le ferment de la division.

    Face à cette menace, rappelons-nous que du chaos de la Seconde Guerre mondiale est sorti un héritage commun, celui des Nations unies, un internationalisme guidé par un idéal de paix, de coopération, de solidarité entre les peuples. Un héritage qui nous montre la voie et qu’il convient de protéger.

    Ainsi, en cette journée de commémoration, ne laissons pas l’oubli envahir nos cœurs. Gardons cette mémoire vive et continuons à lutter avec force et détermination pour un projet humaniste et universaliste.

     
       


     

      Ruth Firmenich (NI). – Frau Präsidentin, meine Damen und Herren! Heute vor 80 Jahren wurde Deutschland vom Faschismus befreit. Heute ist der Tag, den Befreiern aus der Sowjetunion, den USA, Großbritannien und Frankreich sowie den Partisanen zu danken, die für unsere Freiheit gekämpft haben. Es war die Sowjetunion, die die Hauptlast im Kampf gegen den Hitlerfaschismus getragen hat. Über 27 Millionen Sowjetbürger, die meisten davon Zivilisten, starben beim Feldzug der Nazis, der die slawischen Völker versklaven und vernichten sollte – mehr als eine Million allein bei der Blockade Leningrads. Doch die deutsche Bundesregierung weigert sich, dieses Verbrechen als Völkermord anzuerkennen.

    Die Erinnerung an die Geschichte ist in Gefahr. Leider gibt es – auch hier im Haus – Versuche, den Anteil der Sowjetunion am Sieg über Nazideutschland kleinzureden. Aber es war die Rote Armee, die das Vernichtungslager Auschwitz und das Konzentrationslager Sachsenhausen bei Berlin befreite. Es ist eine Schande, wenn Vertreter Russlands, des größten Nachfolgestaats der Sowjetunion, am 80. Jahrestag der Befreiung vom Gedenken ausgeschlossen werden. Wir dürfen es nicht zulassen, dass die Geschichte verfälscht wird. Das sind wir auch den Millionen Opfern des deutschen Faschismus schuldig.

     
       

     

      Łukasz Kohut (PPE). – Pani Przewodnicząca! Wojna nie jest rozwiązaniem – zawsze jest okrucieństwem. Wojna niszczy to, co piękne, poddaje w wątpliwość to, co słuszne, i nie pozostawia wyboru dla tego, co konieczne. Wojna nie nauczyła nas niczego, co wartościowe. Uświadomiła nam jednak, na co już nigdy nie możemy pozwolić i co za wszelką cenę musimy powstrzymać.

    80 lat temu zakończyły się działania wojenne. Nie wszędzie przyniosły pokój. Są miejsca w Europie, gdzie Armia Czerwona kontynuowała to, co rozpoczął Adolf Hitler. Tak było na Śląsku, gdzie Sowieci popełniali najobrzydliwsze zbrodnie na miejscowej ludności. Takich miejsc jak Śląsk było więcej. Jeden terror zastąpił drugi.

    Wojna w Ukrainie przypomina nam, że nic nie jest dane raz na zawsze, że pokój nie spada z nieba. Więcej: pokój wymaga ciągłej pracy, ciągłej walki, nieustannych kompromisów czy rezygnacji z wybujałych ambicji.

    80 lat temu okrucieństwa wojny zmieniły nie tylko układ sił, granic, wygląd miast, ale także nas samych, Europejczyków. Wolność, demokracja, bezpieczeństwo – te trzy elementy składają się na nasze wspólne europejskie dziedzictwo, któremu nadaliśmy konkretną nazwę: Unia Europejska.

    To jest droga, którą podążamy. Może bywa wyboista i trudna, bo nic, co wartościowe, nie przychodzi łatwo, ale nie ma większego sukcesu Europejczyków niż pokój, który nam zapewnia.

     
       


     

      António Tânger Corrêa (PfE). – Senhora Presidente, caros colegas, celebra-se hoje — e é motivo para celebrar — o fim da Segunda Guerra Mundial, a maior guerra que o mundo já conheceu até hoje.

    Não, não foram 50 milhões, não foram 60 milhões, foram 75 milhões, entre militares, civis e genocídios. 3 % da população mundial na altura morreu devido à guerra. Isto não se pode repetir.

    Mas, se o fim da guerra foi uma boa notícia, a melhor notícia foi a criação de um espaço de paz e prosperidade chamado União Europeia. E a União Europeia tem de ser reforçada, mas tem de ser reforçada com países soberanos, e não com estruturas federais ou federalistas que nos querem impor soluções. Nós somos diferentes uns dos outros e temos muita honra nessas diferenças, e queremos mantê-las — pela positiva, com colaboração, mas cada um de nós é diferente do outro, e isso é altamente positivo para a criação de um corpo como a União Europeia.

    Por outro lado, em termos de defesa, é bom que não inventemos muito. Nós temos a NATO, que é uma organização fiel a si própria e a nós próprios, e que tem sempre acorrido quando nós precisamos dela. E não nos esqueçamos de que os Estados Unidos da América do Norte têm sido o garante da nossa liberdade, e nós, a partir de agora, temos de ser também os garantes da nossa liberdade, para que nunca mais se repitam os horrores desta guerra cujo fim agora celebramos.

     
       


     

      Michał Kobosko (Renew). – Pani Przewodnicząca! Jestem z Polski, kraju, który najbardziej ucierpiał podczas II wojny światowej. Miliony istnień ludzkich – Polaków, ale i Żydów – zostało zabitych w imię nienawiści i podziałów – społeczność, która od wieków znajdowała swoje miejsce właśnie w Polsce, w kraju porozumienia i tolerancji.

    Po zagładzie milionów ludzi, destrukcji setek miast i traumie na pokolenia przyszedł pokój. To właśnie dlatego dokładnie 75 lat temu zaczęła powstawać Unia Europejska. By budować pokój i wspólnotę.

    Nie łudźmy się: eurosceptycyzm karmiony radykalizmem, napędzany pieniędzmi z Moskwy, to droga w przeszłość, droga do katastrofy. Dlatego z całą mocą potępiam dziś haniebne antysemickie wystąpienia posła Grzegorza Brauna. To nie tylko mowa nienawiści, to atak na wartości, na których zbudowana jest Europa.

    Apeluję też do eurosceptyków: otwórzcie podręczniki historii, zobaczcie, jak wiele dał nam projekt europejski – gwarantuje wolność, bezpieczeństwo i współpracę, jak nigdy wcześniej w dziejach Europy.

     
       

     

      Benedetta Scuderi (Verts/ALE). – Signora Presidente, onorevoli colleghi, la Seconda guerra mondiale non è arrivata per la mera follia di un paio di dittatori: è stato anche il calcolo miope di chi, pur di fermare l’avanzata delle istanze sociali, ha preferito cedere spazio ai fascisti.

    Liberali e popolari pensavano di poterli usare come argine e usare la loro violenza a favore di un proprio profitto momentaneo. Il capitale ha scelto di sostenerli. Ma l’argine ha ceduto e si sono ritrovati complici di una catastrofe, il cui prezzo l’hanno pagato milioni di persone.

    Chi scioperava o dissentiva veniva schedato, perseguito. La polizia entrava nelle università, i giornalisti venivano spiati. L’odio diventava linguaggio politico, i diritti una concessione temporanea, le donne ancor più discriminate, l’omosessualità sempre più illegale. La corsa al riarmo venne definita giustificata, inevitabile. E poi la pagina più buia: il genocidio, coperto da un silenzio complice.

    Never again, abbiamo detto. Eppure questa descrizione potrebbe essere il telegiornale di oggi. Contro quella guerra, quegli orrori, il fascismo nasce questa istituzione; un’istituzione che doveva proteggere la pace, il disarmo, l’unione tra popoli, combattere per il diritto internazionale e contro ogni genocidio. Lo stiamo facendo?

    Colleghi e colleghe, rileggiamo la storia e guardatevi bene dentro e ditemi se pensate che questa sia la direzione giusta. Ogni volta che scegliete di stare dalla parte di chi priva della libertà e dello Stato di diritto, la parte di Meloni, Orban, Trump, Putin e tutti gli altri, state svendendo libertà, pace e democrazia.

     
       

     

      Danilo Della Valle (The Left). – Signora Presidente, onorevoli colleghi, forse c’è un piccolo misunderstanding nella discussione di oggi. Noi festeggiamo la fine della Seconda guerra mondiale: ma non dobbiamo mai dimenticare che è stata l’Europa che ha partorito il mostro del nazifascismo. Hitler e Mussolini non erano dei pazzi venuti da Marte ma il prodotto di un’ideologia suprematista che sopravvive ancora oggi e non sopravvive solo in chi aderisce alle formazioni estremiste.

    Dobbiamo ricordare perché solo con la memoria possiamo evitare di ricadere nel baratro del passato. Dobbiamo ricordare cosa accadde nei lager e il genocidio che ne scaturì, nei quali persero la vita 6 milioni di ebrei, mezzo milione di sinti e milioni di cittadini sovietici. Oggi qualcuno vorrebbe riscrivere quella storia, escludendo dai festeggiamenti gli ex popoli sovietici, i russi e i popoli slavi, ma per pure ragioni di convenienza geopolitica.

    Quello che accade oggi in Ucraina non può essere la scusa per cancellare il contributo di vite umane che i russi, i polacchi, i popoli slavi e sovietici tutti hanno pagato per liberare tutti noi dal nazifascismo: 27 milioni di sovietici, uomini, donne e bambini massacrati, bruciati vivi nei villaggi, mandati al fronte a difendere un’Europa che forse non li considerava neanche dei pari, ma che hanno contribuito a liberare.

    Quelle morti meritano il rispetto e il nostro ricordo. La memoria ci obbliga alla pace, alla verità e al rispetto di tutti i popoli che hanno pagato il prezzo per la libertà.

     
       

     

      Zsuzsanna Borvendég (ESN). – Elnök Asszony! A történelmi bűnökből okulni kell, nem megismételni. Miközben a békét hirdetik, az emberiséget egy újabb világháború felé sodorják. Magyarországon a második világháború vége szovjet megszállást hozott. A nagyhatalmak a megkérdezésünk nélkül döntöttek a sorsunkról. Megtanultuk, hogy a háborúk soha nem az igazságról, hanem a pénzről, a hatalomról és a politikai érdekekről szólnak, ahogy sajnos a békék is. Mégis, mindent meg kell tennünk a fegyvernyugvásért.

    De Európa nem tanult a múltból, újra fegyverkezéssel akarja megoldani a gazdasági problémáit, természetellenes ideológiákkal harcol a gondolatszabadság ellen, asszisztál a politikai ellenvélemények elhallgattatásához, és tagadja a realitásokat. Európa alapvető érdeke a békés gazdasági együttműködés Oroszországgal. Ahányszor ez megvalósulóban volt a történelem során, kitört egy háború. Most is ez történt. Idegen érdekek rángatják dróton Európát, miközben a végromlásba döntenek minket. Vessünk végre véget ennek! Ne beszéljünk a békéről, hanem valósítsuk meg!

     
       

     

      Ondřej Dostál (NI). – Paní předsedající, vážení kolegové, za vítězství nad nacismem položily své životy miliony spojeneckých vojáků. Bohužel zapomínáme na ty, kteří přinesli obětí nejvíce. Stydím se za kolegy, kteří tvrdí, že Československo osvobodili jen Američané. Řekli byste to matkám sovětských padlých při osvobození naší země? Řekli byste zbídačelým vězňům v Osvětimi, že příchodem sovětské armády nebyli osvobozeni, ale okupováni? Stydím se za svou vládu, že neuctí padlé z řad sovětské armády, a jsem rád, že tak za bývalé Československo učiní premiér Robert Fico, ač je za to ostouzen. Rozhodl jsem se proto, že i já zítra položím květy k hrobu Neznámého vojína v Moskvě. Činím tak ze tří důvodů. Zaprvé, z osobního přesvědčení, že na padlé se nezapomíná. Za druhé, z vůle mých voličů, kteří mají hrůzy nacismu stále v paměti. Zatřetí, z vůle po míru. Oslava 80. výročí porážky nacismu nás spojuje a může otevřít cestu k míru, k diplomacii, k vyřešení nynějšího konfliktu, který vojenské řešení nemá. Přeji šťastnou cestu všem státníkům, ať už míří na oslavy kamkoli, a prosím je, aby šířili vůli po míru v souladu s principy Charty OSN. Já tak zítra učiním.

     
       

     

      Wouter Beke (PPE). – Voorzitter, vandaag herdenken we het einde van de Tweede Wereldoorlog. Tachtig jaar geleden, in de puinhopen van 1945, kozen visionaire leiders zoals Adenauer, Schuman en De Gasperi voor verzoening, verzoening boven wraak, samenwerking boven conflict, democratie boven dictatuur.

    Hun radicale antwoord legde de kiem van waar wij vandaag nog steeds de vruchten van plukken. Een Europese Unie van gedeelde soevereiniteit, democratie en menselijke waardigheid. Die keuze blijft brandend actueel, want extremen in Europa – we hebben het hier vandaag in het debat opnieuw gezien – willen onze rechtsstaat ondermijnen en proberen de banden te breken die ons juist samenhouden.

    En de agressie tegen Oekraïne dwingt ons tot een sterker defensiebeleid, juist om een nieuwe oorlog te voorkomen. Een slagkrachtiger Europa is niet de vijand van de subsidiariteit, maar het is juist de voorwaarde van subsidiariteit. Alleen via samenwerking kunnen we onze veiligheid, onze grondrechten en onze welvaart garanderen.

    Ik heb drie kinderen en ik hoop dat ze kunnen opgroeien in een Europa waarin vrijheid, democratie en menselijke waardigheid geen uitzondering zijn, maar de regel blijven. Laten we daarom vastberaden verder investeren in de Unie. Een Unie die uit deze puin verrezen is, want het is de beste garantie voor onze toekomst.

     
       

     

      Francisco Assis (S&D). – Senhora Presidente, em 18 de junho do já longínquo verão de 1940, um general do exército francês, à revelia do poder instituído, lançou um repto aos seus compatriotas: «não se rendam.» Charles de Gaulle constitui uma das mais sugestivas manifestações do papel do indivíduo na história e da importância da ação livre no curso dos acontecimentos humanos.

    Hannah Arendt, depois de assistir ao julgamento de Adolf Eichmann em Israel, desenvolveu a ideia da banalidade do mal. O homem que aceita ser uma peça acrítica num mecanismo institucional monstruoso torna-se irremissivelmente um agente do mal. Não há inocência na aceitação pacífica da perfídia. Eichmann, na sua pavorosa normalidade, representa o ser humano burocratizado e reduzido a uma condição não moral.

    De Gaulle representa o contrário de tudo isto. Ele sabia os riscos que corria. Numa conversa com amigos, terá dito «vão tomar-me por um aventureiro e, contudo, nunca fui um aventureiro. Dirão que sou um rebelde porque me recuso a obedecer a certas ordens. Mas os verdadeiros rebeldes são os que não obedecem ao dever mais sagrado: defender o seu país até à derradeira possibilidade, ao lado do seu último aliado. Vão talvez condenar-me à morte. Até aqui, os generais condenavam à morte os simples soldados que iam abandonar o campo de batalha. Desta vez vão condenar um general que se recusou a fugir desse mesmo campo de batalha».

    Essa é a grande lição de Charles de Gaulle. Nós, em certas circunstâncias, não podemos fugir do campo de batalha.

    (O orador aceita responder a uma pergunta «cartão azul»)

     
       


     

      Francisco Assis (S&D), Resposta segundo o procedimento «cartão azul». – Caro Deputado Sebastião Bugalho e caro amigo, eu julgo que há determinadas circunstâncias em que nós temos de saber transcender aquilo que são os nossos posicionamentos políticos. Há momentos para a disputa política mais banal e mais quotidiana, e há outros momentos em que temos de estar acima disso.

    E, se há exemplo na Europa — e neste último século há vários —, um deles foi e é indiscutivelmente o do general De Gaulle. Estando hoje aqui em Estrasburgo, estando hoje aqui em França, parecer-me-ia uma enorme injustiça que neste Parlamento ninguém se referisse a essa figura absolutamente extraordinária do século XX europeu que foi o general Charles de Gaulle.

    De Gaulle representa tudo, representa o que de mais relevante um homem de Estado pode representar, a luta pela liberdade, a coragem, a disponibilidade para correr o risco de vida em nome de valores mais altos.

     
       

     

      Anders Vistisen (PfE). – Fru formand! I dag markerer vi 80-året for nazisternes kapitulation. Et historisk øjeblik, hvor Europas frie nationer og modige folk besejrede en af de mest brutale ideologier, som verden har kendt. Det burde være en dag dedikeret til de, der kæmpede, led og døde for et frit Europa. Men i stedet for har huset her lavet det om til en trang til at promovere jeres eget føderale projekt. Intet symboliserer det bedre end den bevilling, I har givet til Huset for Europæisk Historie. Et såkaldt museum, som I har brugt mere end 400 millioner kroner af skatteborgernes penge på. Her forsøger I at skrive historien om. Det fremstår som om, at Europas historie begynder i 1945 og som om, at det ikke er nationalstaterne, der er udgangspunktet for den civilisation, fred og fremgang, Europa har kendt. Det er historisk manipulation og ideologisk propaganda, og det er en hån imod de generationer, der i over tusinde år har opbygget de nationer, kæmpet for den frihed og skabt den kulturarv, som Europa udgør. EU er ved at udvaske det hele i jagten på en føderal superstat.

     
       

     

      Rihards Kols (ECR). – Madam President, dear colleagues, for Western Europe World War Two ended in May 1945, but for millions in Central and Eastern Europe, Latvia included, the end of the tyranny meant the beginning of another. Soviet tanks replaced Nazi boots. Freedom was postponed for nearly five decades.

    Nazi crimes were prosecuted at Nuremberg, justice was served, and rightly so. But there was no Nuremberg for Communism, no tribunal for the gulags, the deportations, the erasure of Baltic independence.

    Europe’s memory remains divided. This is no accident; it’s by design. The Kremlin today wages war not only on Ukraine, but on historical truth itself. It denies the Molotov-Ribbentrop pact, glorifies Stalinism under the banner of liberation, and brands our resistance as fascism.

    Historical revisionism is a weapon, a tool to legitimise aggression, blur guilt and erase the suffering of nations. A united Europe demands a united memory, one that condemns all totalitarian regimes. There can be no reconciliation without truth and no security if lies go unchallenged.

     
       

     

      Charles Goerens (Renew). – Madame la Présidente, voici ce que nous inspire le 80ᵉ anniversaire de la fin de la Seconde Guerre mondiale: premièrement, de la reconnaissance en saluant les mérites de ceux qui nous ont libérés. J’entends par là, bien entendu, la résistance dans tous nos États membres, l’apport des Américains et aussi celui de l’Armée rouge – l’Armée rouge, dans le temps, était différente de ce que font les soldats russes en Ukraine actuellement.

    Deuxièmement, retenir les leçons de l’histoire. L’«appeasement» ne peut en aucun cas être le fil conducteur de la politique extérieure de l’Union européenne aujourd’hui. Nous avons vu où cela a mené dans les années 1930.

    Troisièmement, dans un monde où seul semble compter le rapport de force, nous devons être plus solidaires et développer davantage le projet européen.

    Quatrièmement, l’Europe est seule, mais elle est encore là. Il faut continuer à travailler sur le projet.

    Ce matin, en venant ici, j’ai entendu sur Deutschlandfunk une phrase historique prononcée par Richard von Weizsäcker il y a 40 ans:

    „Der 8. Mai war ein Tag der Befreiung.“

    Je crois qu’il faut que nous nous inspirions de cette phase, qui a une profondeur historique exemplaire.

     
       


       

    IN THE CHAIR: ESTEBAN GONZÁLEZ PONS
    Vice-President

     
       


     

      Jaume Asens Llodrà (Verts/ALE). – Señor presidente, hoy no basta con recordar. Hay que reconocer el mal cuando se repite con otras víctimas y con otros rostros. La memoria debe servir para prevenir el mal, no como coartada para practicarlo. Eso nos lo recuerdan algunos intelectuales judíos de Israel como Idith Zertal o Meir Margalit cuando nos dicen que Israel utiliza el pasado como escudo para no rendir cuentas con el presente y que Europa —y especialmente Alemania— se aferra a su culpa histórica para seguir manteniendo su lealtad a un Gobierno que está practicando otro genocidio, y así traiciona precisamente aquello que prometió no volver a repetir: nunca más el exterminio de un pueblo, nunca más la complicidad de las democracias europeas.

    Pero ahora, a diferencia de entonces, no podemos decir que no sabíamos nada, porque Europa sigue mandando armas, sigue manteniendo el acuerdo comercial con Netanyahu. ¿Qué culpa tienen los palestinos de lo que hicieron en el pasado los europeos, de lo que hicieron algunos, que son los padres ideológicos de los que están hoy aquí sentados y que justifican otra vez otro genocidio? Como entonces, la historia les está mirando a ustedes y les va a volver a juzgar.

     
       

     

      João Oliveira (The Left). – Senhor Presidente, a evocação dos 80 anos do dia da vitória sobre o nazifascismo tem de servir para lembrar as duras lições aprendidas pela humanidade com a tragédia dessa guerra, para que os povos possam evitar a sua repetição.

    O legado da barbárie nazifascista é uma destruição sem precedentes — o genocídio, os campos de concentração, as dezenas de milhões de mortos. Com 20 milhões de mortos, foi a União Soviética quem suportou o maior sacrifício do conjunto da coligação de países aliados formada durante a guerra.

    Democratas de vários quadrantes construíram a luta de resistência. O papel destacado assumido pelos comunistas foi determinante e, por isso, ainda hoje, os herdeiros das forças nazifascistas e os seus cúmplices destilam ódio anticomunista.

    Nos 80 anos do dia da vitória, é imprescindível relembrar que o combate ao nazismo e ao fascismo, às forças reacionárias e obscurantistas também se faz dando resposta aos problemas dos trabalhadores e dos povos, com a melhoria das suas condições de vida, a garantia dos direitos sociais, o respeito pelo direito dos Estados ao seu desenvolvimento, com a defesa intransigente da paz e da cooperação.

    O rasto de morte e destruição da barbárie nazifascista tem de ser suficiente para que hoje façamos tudo para defender a paz, a segurança coletiva e a resolução política dos conflitos. Estas são lutas que partilhamos com as gerações anteriores e, tal como há 80 anos, os comunistas cá continuarão para as travar.

     
       


     

      Danuše Nerudová (PPE). – Pane předsedající, kolegové, dnes si připomínáme konec druhé světové války. Den vítězství, odvahy a naděje těch, kteří bojovali za svobodu a demokracii, protože věřili, že po porážce nacismu přijde svobodný svět. Jenže do střední a východní Evropy místo svobody přišla další temnota. Ti, kterým jsme desítky let museli říkat osvoboditelé, přinesli jen nový teror, popravy, lágry a totalitu. Zlo vystřídalo jen další zlo. Jejich oběťmi se stali skuteční hrdinové, letci RAF, legionáři nebo odbojáři. Ti všichni byli pronásledováni, vězněni a trestáni, protože pro totalitní režim znamenali vše, co moskevské loutky neměly – svobodu, hrdinství a lásku k demokracii. Dnes, 80 let poté, se kolaborace se zlem znovu stává závažným problémem celé Evropy. Naše demokracie dokonce umožňuje, že někteří podporovatelé fašismu a komunismu pořád sedí s námi tady v Evropském parlamentu a mají tu drzost šířit ruskou propagandu a lež. Přála bych si, abychom i my, stejně jako naši váleční hrdinové, měli odvahu čelit zlu. Začněme nazývat věci správnými jmény. Skutečný osvoboditel nikdy nemůže přinést novou totalitu. Svůj proslov věnuji všem československým hrdinům, včetně letců RAF, kteří po skončení druhé světové války byli zavražděni a umučeni komunisty.

     
       

     

      Cecilia Strada (S&D). – Signor presidente, onorevoli colleghi, se l’Europa si occuperà solo dei problemi interni dei singoli Paesi, resteranno in piedi le cause di conflitti, di militarismi, di guerre. Così scrivevano Altiero Spinelli e gli altri fondatori del Movimento federalista europeo nel pieno della Seconda guerra mondiale, finita 80 anni fa. Una triste profezia.

    Oggi i ragazzi e le ragazze d’Europa studiano gli orrori della Seconda guerra mondiale, il genocidio degli ebrei, lo sterminio di disabili, rom, sinti, omosessuali e si chiedono: qualcuno poteva fermare questo orrore e non l’ha fatto?

    Fra qualche anno anche noi saremo sui libri di storia: Commissione, Consiglio, questo Parlamento. Saremo su una pagina nera. Ottant’anni dopo l’Olocausto i cittadini del mondo guardano il genocidio della popolazione palestinese teorizzato e portato avanti dal governo di Israele e ci chiedono: perché non fermate la strage? Perché continuate a vendere armi a Israele? Perché siete complici di tutto questo? Perché?

    Sono passati 80 anni e, come diceva Gramsci, la storia insegna ma non ha scolari. Che vergogna!

     
       

     

      Alexandre Varaut (PfE). – Monsieur le Président, au moment d’évoquer l’anniversaire de la fin de la Seconde Guerre mondiale, je veux d’abord évoquer les soldats, les civils, les résistants français, acteurs ou victimes de cette guerre, et avoir une pensée personnelle pour mon grand-père, décoré de la Croix de guerre pour sa contribution à la Résistance.

    Nous commémorons aujourd’hui la liberté comme patrimoine pour l’Europe; pour l’Europe, mais pas pour les millions d’Européens de l’Est livrés à Staline, qui fut l’allié de Hitler jusqu’à l’été 1941, ne l’oublions pas. Aujourd’hui, le soviétisme a disparu à son tour, mais à quel profit?

    La liberté et la démocratie sont refusées par les libéraux et les démocrates prétendus à leurs adversaires en Roumanie ou en Hongrie, montrant que, dans leur bouche, ces principes universels sont un capital politique qu’ils exploitent, mais ne respectent pas. La sécurité est absente de nos sociétés fracturées par l’immigration de masse. Les crimes se multiplient.

    Ce bilan prouve que les leçons de la guerre n’ont pas été tirées. Il prouve que les idéologues modernes persistent à sacrifier des hommes et des vies à leurs utopies désastreuses. Il prouve que, de plus en plus contestés dans leur dogme, c’est à la répression idéologique ou juridique qu’ils recourent et qu’ils n’hésiteront pas, pour édifier leur paradis terrestre, à faire de l’Europe un purgatoire.

     
       


     

      Dan Barna (Renew). – Domnule președinte, comemorăm astăzi 80 de ani de la Al Doilea Război Mondial, dar lecțiile sale sunt mai actuale ca niciodată. În ’38, când Germania nazistă anexa Austria, nu a fost doar un act de forță, el fusese pavat de o campanie neîncetată de propagandă și dezinformare. Regimul nazist a portretizat o narațiune falsă a unui popor austriac dornic de unire, fabricând crize și suprimând orice știre care contrazicea povestea oficială. Naziștii controlau informația și controlau percepția, făcând agresiunea lor să pară justificată, ba chiar binevenită.

    În zilele noastre, lupta pentru adevăr s-a mutat pe ecranele din viața noastră. Dezinformarea, amplificată de viteza și amplitudinea rețelelor sociale, erodează încrederea în instituții și în democrație și poate destabiliza societăți. Tacticile evoluează – de la emisiuni radio și fotografii trucate, la deepfake-uri și bule conduse de algoritmi – dar scopul de a manipula adevărul pentru putere rămâne înfiorător de familiar.

    Trecutul ne oferă o lecție dură și urgentă: trebuie să fim consumatori critici de informație. Trebuie să punem întrebări, trebuie să verificăm și trebuie să înțelegem agendele care se pot ascunde în spatele narațiunilor care ne sunt prezentate. Istoria ne arată că atunci când adevărul este compromis, libertatea și pacea sunt grav periclitate. Trebuie să învățăm din tenebrele trecutului pentru a proteja prezentul și viitorul.

     
       

     

      Anna Strolenberg (Verts/ALE). – Mr President, ‘never again’ are words often spoken, but difficult to uphold. We are here amongst Europeans and we all have different war traumas, be it Nazism, Fascism, Communism or colonialism. These stories make us who we are, and these histories also put a great responsibility upon us to act when we see that freedom is taken away from others.

    We are not doing that enough, Europe is not doing it enough. We are too silent about Netanyahu’s war crimes in Gaza. We are too timid in supporting Ukraine in defeating Russian imperialism.

    We can do so much more, and I am proud that I can stand here and be critical, because this freedom is a luxury for some. I am proud that I am European, and that we managed to turn our history into the biggest peace project there is.

    But I would be even prouder if we managed to live up to our responsibility and to show actions that speak louder than these words. Let’s live up to our responsibility, and let’s remember that ‘never again’ is not a prayer to the past, but a promise to the future.

     
       


     

      Paulius Saudargas (PPE). – Mr President, honourable colleagues, eighty years ago Europe rose from the ashes of the most brutal war in human history. However, in some European countries, the suffering was not over. For Lithuanians, Latvians, Estonians, Ukrainians, Poles and many other nations occupied by the Soviet Union, it was the beginning of the new wave of Stalin’s repressions. Imprisonment in gulags, mass deportations to extreme exile demolished millions of lives. But we resisted; we fought the enemy. We fought alone. In Lithuania and Ukraine the partisan war lasted for a decade, taking away thousands of the bravest.

    We must remember this in the context nowadays, because the enemy is the same. The peacemakers of the Second World War declared ‘we will never let this happen again’. Well, today these very foundations are under attack once more. The unprovoked and unjust invasion of Ukraine, war crimes, genocide of the Ukrainian people and mass propaganda mirrors the aggression and the suffering we once said would never be tolerated.

    I ask everyone here today to keep that promise. Not any peace, but a just peace must be our ultimate goal, and only then, for the final time, can we say ‘never again’.

     
       

     

      René Repasi (S&D). – Herr Präsident, liebe Kolleginnen und Kollegen! 80 Jahre nach dem Ende des Zweiten Weltkriegs verlassen uns die letzten Überlebenden der Schoah, der Konzentrationslager des Krieges. Mit ihnen verlieren wir nicht nur Zeitzeugen. Wir verlieren Stimmen, die aus erster Hand gewarnt haben, was passieren kann, wenn Hass und Gleichgültigkeit zusammenkommen. Wir dürfen niemals zulassen, dass ihre Erlebnisse verstummen. Wir müssen ihre Augen, ihre Herzen, ihre Gedanken sein. Sie haben das Unfassbare gesehen. Sie haben gelitten. Sie haben gewarnt. Und sie haben auf uns gehofft.

    Jetzt mehr denn je ist es Zeit, diese Erinnerung nicht in Vergessenheit geraten zu lassen. Für uns Deutsche war das Ende des Weltkrieges eine Niederlage – nicht im Sinne nationaler Schmach, sondern als notwendiger Bruch mit einem verbrecherischen System. Die europäische Integration, die auf den Trümmern des Weltkrieges entstand, wurde geboren, um den Nationalismus, der nur das Trennende kennt und uns auf den Weg zum Krieg führt, zu überwinden. Es ist unsere Verantwortung, dieses Friedenswerk zu schützen und zu stärken. Denn Frieden ist nicht alles, aber ohne Frieden ist alles nichts!

    (Der Redner ist damit einverstanden, auf mehrere Fragen nach dem Verfahren der „blauen Karte“ zu antworten.)

     
       


     

      René Repasi (S&D), Antwort auf eine Frage nach dem Verfahren der „blauen Karte“. – Herr Kollege! Das, was Nazideutschland der Welt angetan hat, ist im Sinne von Kompensation niemals wiedergutmachbar. Dieses Verbrechen hat eine Intensität, dass es uns Deutsche, aber mit uns Deutschen uns Europäerinnen und Europäer und alle Bürgerinnen und Bürger dieser Welt niemals verlassen kann, weil es eine Verantwortung für unser alltägliches Handeln darstellt. Deswegen kann man sich von dieser Verantwortung auch nicht freikaufen, auch nicht freireden und heute auch nicht sagen, alles wäre jetzt wieder gut. Das ist es nicht, und das wird es nie sein. Das ist die politische Verantwortung, die wir als Deutsche, aber eben auch als Bürgerinnen und Bürger dieser Europäischen Union für immer tragen werden.

     
       

     

      Arkadiusz Mularczyk (ECR), pytanie zadane przez podniesienie niebieskiej kartki. – Mam pytanie, czy ma Pan świadomość, że obecnie polskie ofiary II wojny światowej nie mają dostępu do drogi sądowej, nie mają możliwości dochodzenia roszczeń? Znam osobiście takie ofiary poszkodowane przez Pana dziadków, pradziadków. Czy ma Pan świadomość, że Niemcy nie zawarły nigdy z Polską żadnej umowy o naprawie szkód i zadośćuczynieniu ofiarom? Czy ma Pan świadomość, że Niemcy nie zapłaciły nic polskim ofiarom ani Polsce? Czy nie jest Wam, Niemcom, wstyd? Czy nie jest wstyd Unii Europejskiej za to, że odwraca głowę od tej sprawy?

     
       



     

      Aurelijus Veryga (ECR). – Ponas pirmininke, 45-ųjų metų gegužės aštuntą dieną pasirašytas kapituliacijos aktas Lietuvai ir kitoms Baltijos šalims nereiškė nei karo pabaigos, nei laisvės. Save pristatantys išlaisvintojais sovietai „pamiršo“ išeiti iš išlaisvintų šalių, ir išlaisvintojai ėmėsi uoliai naikinti visus bent kiek pilietiškai nusiteikusius žmones. Tūkstančiai gyvuliniais vagonais buvo išvežti į Sibirą. Atimta žemė ir namai, sunaikinta pilietinė visuomenė, nevyriausybinės organizacijos bandė pasipriešinti ginklu miškuose, buvo nukankinti kalėjimuose, nužudyti ir išniekinti miestų aikštėse. Buvo bandoma sunaikinti kalbą, ribojama religijos laisvę, žiniasklaida tapo propagandos ruporais, klastojama istorija ir klastotėmis plaunamos vaikų smegenys. Tą teko patirti ir man, tuomet dar vaikui, augusiam sovietų okupuotoje Lietuvoje. Deja, Sovietų Sąjunga už visus nusikaltimus savo Niurnbergo neturėjo, o komunizmas visuotinai nebuvo pasmerktas. Vadinamasis išlaisvinimas mums virto ilgais dešimtmečiais okupacijos. Todėl raginame pasaulį išmokti Antrojo pasaulinio karo pamokas ir jų nekartoti.

     
       


     

      Sunčana Glavak (PPE). – Poštovani predsjedavajući, kolegice i kolege, 80 godina od najkrvavijeg rata u ljudskoj povijesti Europa je podigla najhrabriji projekt mira, ali danas taj projekt je na iskušenju. Dok rat ponovo tutnji na europskom tlu gledamo porast populizma i autoritarizma. Strah zamjenjuje razum. Moramo se zapitati hoćemo li braniti ono što nas čini Europljanima.

    Europa nije samo zajednica tržišta, već zajednica vrijednosti. Europa nije samo geografski prostor. Europa je ideja, ideja da razlike nisu slabost, već snaga i da se sloboda ne podrazumijeva. Mi to dobro znamo u Hrvatskoj. Kada govorimo o slobodi i o miru znamo koliko su sloboda i mir dragocjeni jer, nažalost, iskusili smo brutalnost velikosrpske agresije na Hrvatsku prije samo tridesetak godina. I pobijedili smo. Ali sjećamo se i žrtava nakon Drugog svjetskog rata. Sjećam se Macelja, Bleiburga i križnog puta.

    Stoga svi moramo imati na umu da Europa nije gotova priča. Europa se piše svakog dana, a pitanje je jednostavno: hoćemo li biti njezini autori ili promatrači?

     
       

     

      Vytenis Povilas Andriukaitis (S&D). – Labai ačiū, gerbiamasis posėdžio pirmininke, gerbiamas komisare, kolegos, išties kalbėsiu kaip laisvės kovų dalyvis, disidentas, kurį septynis kartus tardė KGB, du kartus suėmė, kuris devyniasdešimtųjų kovo vienuoliktąją pasirašė Nepriklausomybės deklaraciją, Petrai Gražuli. Taigi keturiasdešimt pirmų metų birželio keturioliktą Hitleris okupavo Paryžių. Tą pačią dieną Stalinas pateikė ultimatumą Lietuvai ir mano tėvai 17 metų praleido Stalino gulaguose. Džiaugiuosi, kad mano tėvas buvo 45 pabaltijiečių memorandumo signataras. Ir ačiū Europos Parlamentui, kuris 1983 m. sausio 13 d. priėmė rezoliuciją dėl Estijos, Latvijos, Lietuvos laisvės. Džiaugiuosi ir dėl to, kad šiame Parlamente skamba dvi pavardės: Simone Weil ir Altero Spinelli. Ir taigi šios dvi pavardės didingai mums primena, ką mes turime padaryti. For Free and United Europe – taip vadinosi Altiero Spinelli manifestas. Ir šiandien reikia aiškiai pasakyti: istorija man neskolinga, aš skolingas istorijai, kad būtų taika, demokratija ir laisvė.

     
       

     

      Sebastian Tynkkynen (ECR). – Mr President, in an alternative reality we would be living today under Hitler’s rule – not just all of Europe, but maybe even the whole world.

    In that reality, I wouldn’t be standing here. I would have been killed in a gas chamber, my ashes drifting in the air. Many of you also would not be here, because of your ethnicity, your sexuality or disability.

    That reality nearly came true. Too many in Europe believed Hitler would stop on his own. They spoke of peace and diplomacy. But reality struck, and the price was great, far greater.

    Now, 80 years later, Europe faces its worst attack since World War Two, and history is repeating itself. Today, it is the Left who lives in an alternative reality. You oppose European militarisation and sending weapons to Ukraine, and call for peace talks with Putin.

    But you should never negotiate with dictators – you must stop them!

    (The speaker declined to take a blue-card question from Petras Gražulis)

     
       

     

      Martin Hojsík (Renew). – Vážený pán predsedajúci, pred osemdesiatimi rokmi v Európe skončili hrôzy vojny. Ak však chceme chrániť mier, nesmieme si pripomínať len koniec, ale myslieť aj na to, prečo táto vojna začala. Vojna, ktorú môj dedo prežil v Mauthausene, kde moja babička musela počúvať zvuky vychádzajúce z gestapáckych výsluchovní. A ona začala už v roku 39. Keď Hitler spolu áno, aj s klérofašistickým Slovenským štátom, a áno, aj so Sovietskym zväzom napadol Poľsko. Ona začala preto, že sa Západ díval preč, keď takpovediac ustupoval diktátorom, pretože obetoval tých menších a slabších. Dnes stojíme znova na križovatke. Na križovatke, ktorá bude znamenať to, že či sa Európa znova rozdelí, či Putin získa znovu sovietsku sféru vplyvu, alebo bude silná a jednotná. Aby sa nestalo to, čo po druhej svetovej vojne zažil napríklad pán Skúpi z Moravského Lieskového, keď ho NKVD odviedlo do gulagu len preto, že pomáhal americkému letcovi.

     
       

     

      Evin Incir (S&D). – Mr President, colleagues, today, 8 May, is the time to commemorate. This is a time to remember, but also a moment to reflect on the lessons – the evil the Second World War emerged from. And it is a time to warn against the far-right ideologies that once drove our continent to the edge of complete self-destruction. The same ideology that, unfortunately, is embraced by some – even here in this Parliament, in Europe in 2025.

    The generations that survived the Second World War, those who knew the very essence of ‘never again’, understood that the tragedy of the 20th century did not begin with bombs or bullets. It began with words, with rising intolerance, and it continued to mass killing of men, women and children by the thousands, by the millions.

    In our European society today, we are once again witnessing this rise of political forces that set people against people. Colleagues, do not forget that EU was built to ensure that ‘never again’ means ‘never again’. Let’s ensure that ‘never again’ is transferred into words every day, with every action that we take.

    (The speaker agreed to take a blue-card question)

     
       

     

      Bogdan Rzońca (ECR), pytanie zadane przez podniesienie niebieskiej kartki. – Bardzo uważnie słuchałem Pani wypowiedzi. Chciałem w ciągu 20 sekund opowiedzieć Pani pewną historię i na końcu zadam pytanie.

    Jest 1944 rok. Jasło, moje miasto, w którym mieszkam, jest pod okupacją niemiecką. Walter Gentz, starosta niemiecki, wydaje rozkaz: wysiedlić kilkanaście tysięcy ludzi. Drugi rozkaz: zaminować całe Jasło. Trzeci rozkaz: okraść całe Jasło. Wszystko, co ukradli, spisali i wywieźli w ponad tysiącu wagonów. Wszystko wiemy – wiemy, dokąd te rzeczy pojechały, do których miast niemieckich.

    I pytanie: czy Pani uważa, że Niemcy powinni te rzeczy zwrócić albo przynajmniej zapłacić odszkodowanie za spalenie, zburzenie i okradzenie miasta Jasła?

     
       


     

      Adam Bielan (ECR). – Panie Przewodniczący! 8 maja 1945 r. zakończyła się II wojna światowa, najbardziej krwawa i wyniszczająca wojna w dziejach ludzkości. Dla Europy Zachodniej jest to dzień zwycięstwa odniesionego dzięki pomocy Stanów Zjednoczonych. Dla narodów Europy Centralnej i Wschodniej to symboliczny początek niemal półwiecznej okupacji przyniesionej przez Armię Czerwoną.

    Tę rocznicę obchodzimy w cieniu innej wojny, wojny toczonej na Ukrainie. Wczoraj na ten temat debatowaliśmy. Rozmawialiśmy również o tym, w jaki sposób agresor, czyli Rosja, powinna zadośćuczynić i wynagrodzić Ukrainie szkody, które wyrządziła. Ja te głosy oczywiście wspierałem, ale zastanówmy się, czy po II wojnie światowej agresor, czyli Niemcy, zadośćuczyniły szkodom, które one wyrządziły.

    Niemcy zamordowali ponad 6 mln polskich obywateli. Wyrządzili szkody – według oficjalnego polskiego raportu polskiego rządu – na ponad półtora biliona euro. Do dzisiaj nie zapłaciły reparacji. A wczoraj nowy kanclerz w Warszawie po raz kolejny postanowił nas upokorzyć i w obecności polskiego premiera oświadczył, że ta sprawa dla Niemiec jest zakończona. Otóż, panie kanclerzu Merz, nie jest zakończona. Będziemy się domagać zadośćuczynienia, a proniemiecki premier Donald Tusk prędzej czy później straci władzę.

    (Mówca zgodził się na pytanie zasygnalizowane przez podniesienie niebieskiej kartki)

     
       

     

      Petras Gražulis (ESN), pakėlus mėlynąją kortelę pateiktas klausimas. – Gerbiamas pranešėjau, jau 80 metų kaip Europa išsivadavo iš nacistinės Vokietijos, tačiau mūsų šalis Lietuva, tame tarpe ir Lenkija, pateko į Sovietų Sąjungos įtaką, kur taip pat buvo persekiojamas tikėjimas, žodžio laisvė. Kovojo lietuviai ir lenkai įvairiose organizacijose už savo laisvę. Atgavus mums nepriklausomybę, mes patekome į kitą ideologinę priespaudą – genderizmą. Kaip manot, ar Europa išsivaduos iš tos genderistinės ir leftistinės ideologijos, ar jinai joje ir mirs?

     
       


     

      Engin Eroglu (Renew). – Herr Präsident, sehr geehrter Herr Kommissar Séjourné! Vielen Dank, dass Sie heute bei uns sind. 80 Jahre nach dem Ende des Zweiten Weltkrieges erinnern wir uns und gedenken wir hier im Parlament einer sehr wichtigen Sache. Millionen von Menschen, Millionen von unschuldigen Menschen wurden brutalst ermordet aufgrund von Ideologien. Sie wurden überfallen. Ihnen wurde alles weggenommen – am Ende auch das Leben. Und dieses Gedenken muss uns eine Mahnung sein – eine Mahnung sein, was Ideologien anrichten. Und viele – auch in diesem Haus – haben scheinbar dieses Gedenken nicht richtig wahrgenommen, denn sie sind in ihren Mitgliedstaaten wieder mit Hass, Ideologien und einfachen Lösungen unterwegs, spalten die Europäische Union und verraten ihr eigenes Volk, indem sie sagen: Wir haben die einfache Lösung.

    Ich appelliere daran: Wir müssen gemeinsam – gerade jetzt in der heutigen Zeit, wo die Bedrohung an den Grenzen der Europäischen Union wieder so groß ist wie noch nie – die Gemeinsamkeiten der Europäischen Union suchen und aufhören mit der Mahnung, die wir heute hier in diesem Haus gehört haben. Wir müssen gemeinsam die Lösung suchen ohne Ideologien.

     
       

     

      Nils Ušakovs (S&D). – Priekšsēdētāja kungs! Cienījamie kolēģi! Šajās dienās cilvēki visā Eiropā svin uzvaru pār nacismu, piemin antihitleriskās koalīcijas karavīrus, pretošanās dalībniekus, partizānus, katru, kas cīnījās un krita, karojot pret šo absolūto ļaunumu. Eiropas Savienība tika izveidota tieši šīs uzvaras rezultātā, un viss, kas ir labs Eiropā, ir, pateicoties karavīriem, kas uzvarēja Hitleru.

    Viss, kas mums ir slikts, tas ir jau mūsu pašu neveiksmju un kļūdu rezultāts. Katru reizi, kad mums kaut kas neizdodas, cīnoties ar pavisam cita mēroga izaicinājumiem, ar ko saskaras patreiz Eiropas Savienība, mēs pieminam tos, kas pirms 80 gadiem upurēja absolūti visu, lai mēs un mūsu bērni varētu dzīvot mierā un drošībā. Veidojot labāku Eiropu, dzīvosim un strādāsim tā, lai mums nav kauns šo karavīru priekšā, ka mēs neizdarījām, nebijām spējīgi. Paldies antihitleriskās koalīcijas karavīriem, pretošanās dalībniekiem, partizāniem. Jūs esat un būsiet vienmēr mūsu varoņi.

     
       

     

      Christophe Grudler (Renew). – Monsieur le Président, le 8 mai marque la fin de la Seconde Guerre mondiale en Europe en 1945. Il est de notre devoir d’honorer la mémoire des soldats et de tous ceux qui, au prix de leur vie, se sont battus pour défendre la liberté et retrouver le chemin de la paix.

    Le 8 mai 1945 annonçait la victoire des Alliés sur le nazisme. N’oublions jamais les actes de barbarie dont ont été victimes les peuples d’Europe, perpétrés par des régimes autoritaires sans scrupule, avant et après 1945.

    Aujourd’hui, que voit-on, 80 ans après? Une montée en puissance des nationalismes, des autoritarismes, de la violence, des volontés d’hégémonie les plus primitives. Ils menacent directement la stabilité, la liberté et l’état de paix connus des citoyens européens.

    Ne reproduisons pas les erreurs du passé. Ces prédateurs n’auront pas raison de la belle Europe, car nous, fervents défenseurs de la démocratie, saurons nous tenir prêts pour la protéger. Restons unis pour ne jamais oublier! Restons unis pour ne jamais répéter!

     
       

     

      Nikos Papandreou (S&D). – Mr President, I find it very interesting that just a few minutes ago we had a Member who was born in the gulag who spoke here. We have two Members whose families were involved in the plot to assassinate Hitler. This Chamber is haunted by those memories. My grandmother told me stories of the Great Famine in Athens in 1941. My grandfather was chased by Kurt Waldheim and escaped to Egypt, and then was lucky enough to be prime minister on Liberation Day and lift the Greek flag over the Acropolis. So those are the memories that haunt us.

    Yet we still have this big divide, and it happens to be Russia and the Soviet Union. The problem with that – and that’s my problem – is that, yes, the Soviet Union helped defeat the Nazis, and that’s a plus, but then they dominated Eastern Europe and made a totalitarian world. So that tears us in half; it’s a ‘yes’ and a ‘no’, and we have to condemn atrocities whenever we see them if we are democratic people and believe in the European values. It does not matter if they had a victory star; they also have something very bad.

    Today we have a Fifth Column. It is not necessarily with weapons, it’s with suits, tweets and explosions of falsehoods. It promises easy solutions to complex problems. We see little men and little women who want to use freedoms to abolish freedoms. Our speeches today are part of the act of resistance.

     
       

     

      Thomas Pellerin-Carlin (S&D). – Monsieur le Président, quand j’avais dix ans, mon regard interrogea les lignes blanches et rouges d’un drapeau qui flottait dans le vent de ma Normandie natale. Je savais déjà ce qu’était la Seconde Guerre mondiale, mais ce drapeau-là, je ne le connaissais pas.

    Aujourd’hui, je pense aux soldats polonais de la première division blindée du général Maczek. Au mont Ormel, ils se battirent avec une bravoure rare. Sur les 1 500 soldats engagés, 60 seulement étaient encore en état de combattre après leur victoire. Je sais ce que je leur dois. Je sais qu’ils ont permis à mon grand-père de vivre dans une France libre. Je sais aussi que beaucoup d’entre eux n’ont jamais revu la Pologne libre.

    L’histoire ne se répète pas, mais les criminels d’hier ont leurs héritiers, qui sont aujourd’hui tentés par la récidive. Vladimir Poutine et Donald Trump trouvent des appuis ici même, au Parlement européen, dans cette extrême droite héritière des pires heures de notre histoire.

    Dans le combat pacifique que nous menons aujourd’hui pour la démocratie, rappelons-nous de ces héros polonais tombés au mont Ormel. Montrons-nous dignes de leur courage.

     
       

     

      Matjaž Nemec (S&D). – Mr President, dear Commissioner, dear colleagues, these days we celebrate a victory day. But considering the world around us, there isn’t really much to celebrate. Much of the responsibility for this lies with the inaction of the European institutions led by the Commission President von der Leyen.

    When the allies fought for peace 80 years ago, our common European project was born. Europe was meant to safeguard peace, freedom, rule of law and human rights. It was not meant to become a project of double standards and opportunistic political interests. Instead of demanding accountability, Europe’s top officials only repeat hollow rhetoric about upholding anti-fascist and anti-Nazi values. This is not the way forward.

    This anniversary must serve as a wake up call for the European Union to break free from the grip of hypocrisy. Europe was able to call out war crimes in Rwanda, Yugoslavia and Ukraine. Your leadership must clearly condemn and stop a genocide enfolding before our eyes in Gaza. A war crime is a war crime, whether done by Russia or by Israel.

    Europe must again become a source of pride, not shame. We owe this to our people and those who fought and died for Europe 80 years ago. We must end all wars. Peace must prevail again.

     
       

       

    Catch-the-eye procedure

     
       

     

      Juan Fernando López Aguilar (S&D). – Señor presidente, se cumplen ochenta años de la derrota del horror nazi, pero no del fin de la Segunda Guerra Mundial, cuya devastación fue planetaria, porque solo concluyó después de dos bombas atómicas en Japón en agosto de 1945. Nie wieder. Never again. Nunca más.

    Este no puede ser un mantra para esta Unión Europea, que recibió el Premio Nobel de la Paz en 2012, exactamente para avivar nuestra conciencia de que tenemos que estar permanentemente alerta contra el rebrote del autoritarismo y del totalitarismo en Europa y, por supuesto, de la guerra en todas partes. Ahí donde se perpetra un genocidio —como en Gaza— o una guerra —como la de agresión de Rusia contra Ucrania—, la Unión Europea tiene que tener una propuesta de paz activa.

    Por tanto, no puede ser un mantra repetir una y otra vez «Nie wieder» si no tenemos una política de la memoria que nos ayude a estar permanentemente contra cualquier forma de totalitarismo, contra cualquier amenaza a los valores fundadores de la Unión Europea. Allí donde el Consejo de Europa nació para la paz ha conocido la guerra entre miembros del Consejo de Europa. No puede pasar que la Unión Europea, círculo duro de integración basado, precisamente, en valores y en la paz, no tenga una política y un proceso de paz activo en la guerra contra Ucrania.

     
       

     

      Viktória Ferenc (PfE). – Elnök Úr! Ma a második világháború lezárására emlékezünk, és azokra az áldozatokra, katonákra és civilekre, akik átélték és megszenvedték történelmünk egyik legsötétebb időszakának borzalmait. Mennyire ironikus, hogy miközben a 80 évvel ezelőtt beköszöntött békét méltatjuk az Unió szomszédságában, a több mint három éve dúló orosz-ukrán háború még mindig emberéleteket követel.

    Nincs béke párbeszéd nélkül – hangzik Ferenc pápa üzenetében, aki élete utolsó napjáig azért küzdött, hogy békét teremtsen a világban, azon belül Ukrajnában is. Magyarország is a kezdetektől ezen az állásponton van. Diplomáciai eszközökkel, politikai támogatással és közös összefogással azért kell dolgoznunk, hogy elhallgattassuk a fegyverek zaját. Ukrajna lakossága már túl régóta szenved.

     
       

     

      Arkadiusz Mularczyk (ECR). – Panie Przewodniczący! Pani Komisarz! Wysoka Izbo! II wojna światowa to wciąż nierozliczona karta w relacjach europejskich. Mój kraj, Polska, w wyniku agresji niemieckiej poniósł niewyobrażalne straty: 6 mln zamordowanych polskich obywateli. 11 mln musiało wyjechać na emigrację. 50% terytoriów, które Polska utraciła. 40% PKB, które zostało zniszczone. Miliony kalek, miliony sierot, 200 tysięcy zgermanizowanych dzieci. 2 mln Polaków było wywiezionych na pracę przymusową. Miliony Polaków, które zginęły w obozach koncentracyjnych w wyniku chorób. Niemcy nigdy nie zapłaciły za swoje zbrodnie wojenne. To jest wyzwanie dla Unii Europejskiej, żeby nie odwracać oczu od tej sprawy, bo i Polska, i Grecja domagają się od Niemiec reparacji wojennych. Ja, Pani Komisarz, przekażę ten raport o polskich stratach wojennych. Oczekuję, że Unia Europejska stworzy mechanizm do zachęcenia Niemiec do rozmów o zapłacie odszkodowania dla Polski i Grecji. Nie odwracajcie Państwo od tego oczu ani głowy.

     
       


     

      Λευτέρης Νικολάου-Αλαβάνος (NI). – Κύριε Πρόεδρε, 80 χρόνια από την 9η Μάη 1945, όταν η ναζιστική Γερμανία παραδόθηκε άνευ όρων. Δεν πρόκειται για Ημέρα της Ευρώπης, όπως ισχυρίζεται η Ευρωπαϊκή Ένωση, αλλά για τη μεγάλη αντιφασιστική νίκη των λαών. Οι λαοί δεν ξεχνούν τα εκατομμύρια που έπεσαν στον αγώνα για να συντριβεί ο φασιστικός άξονας. Τιμούν την τεράστια προσφορά του Κόκκινου Στρατού, του σοβιετικού λαού, των εθνικοαπελευθερωτικών κινημάτων όπου πρωτοστάτησαν οι κομμουνιστές, όπως στην Ελλάδα.

    Η Ευρωπαϊκή Ένωση προκλητικά κάνει την ανήξερη για πολεμικές επανορθώσεις της ναζιστικής Γερμανίας. Το Ευρωπαϊκό Κοινοβούλιο απέρριψε αναφορά της ΠΕΑΕΑ, την οποία στήριξε το ΚΚΕ, για τις δίκαιες αξιώσεις του ελληνικού λαού. Σέρνετε τους λαούς στον πόλεμο, μπροστά σε νέα κρίση και σφοδρούς ανταγωνισμούς με Κίνα, Ρωσία αλλά και τις ΗΠΑ, που πληρώνουν οι εργαζόμενοι.

    Με τη διαστρέβλωση της ιστορίας, τον αντικομμουνισμό, την ταύτιση φασισμού και σοσιαλισμού, μάταια στοχεύετε να κρύψετε ότι υπάρχει διέξοδος σήμερα από την καπιταλιστική βαρβαρότητα, που η Ευρωπαϊκή Ένωση και οι αστικές κυβερνήσεις υπερασπίζονται. Απέναντι στο σκοτάδι των πολέμων, της εκμετάλλευσης, των κρίσεων, φωτεινό μέλλον της ανθρωπότητας είναι ο νέος κόσμος· ο σοσιαλισμός.

     
       

     

      Lukas Sieper (NI). – Herr Präsident, liebe Menschen Europas! Wir Deutschen kennen unsere Geschichte. Wir kennen die Verbrechen unseres Volkes unter den Nationalsozialisten. Und deshalb haben wir manchmal eine menschliche, aber gefährliche Angewohnheit: Wir erzählen uns, unsere Vorfahren hätten nicht mitgemacht, hätten nichts gewusst. Wir erzählen uns, wir selbst hätten im Widerstand gekämpft. Aber die Wahrheit ist: Die meisten deutschen Familien hatten Mitglieder in der SS, und die meisten von uns wären dabei gewesen.

    Schauen Sie auf mich. Meine Vorfahren haben ausschließlich in Deutschland gelebt. Ich habe mich nach der Schule freiwillig zum Militärdienst gemeldet. Ich liebe mein Land, meine Sprache, meine Kultur. Wäre ich, Lukas Sieper, vor 100 Jahren geboren, ich hätte wahrscheinlich die Propaganda geglaubt. Ich wäre wahrscheinlich ein weiterer Soldat in Hitlers Armeen gewesen. Wir sind immer nur eine Wahl von einer Diktatur entfernt. „Nie wieder“ ist nicht Erinnerung. „Nie wieder“ ist jetzt.

     
       

       

    (End of catch-the-eye procedure)

     
       

     

      President. – The debate is closed.

     

    5. Old challenges and new commercial practices in the internal market (debate)


     

      Anna Cavazzini, author. – Mr President, dear colleagues, we are facing numerous challenges in the EU. Looming trade wars, high energy prices, a lack of innovation and public investment, the China shock and shortages of skilled labour makes businesses suffer and results in rising costs of living for consumers. The climate crisis is accelerating and adding additional risks.

    The good news is the single market remains our best answer to geopolitical insecurity and to tackle those challenges. Nearly 450 million citizens, 23 million businesses with a GDP of EUR 17 trillion. These numbers make the single market one of the three largest economies in the world, and we need to use this unique resource to the benefit of people, businesses and the planet.

    Let me make four points on how the IMCO Committee in this resolution sees the way forward for the single market.

    One, reinforcing the single market. We need to make it easier, especially for small and medium sized enterprises to operate in it. Simplification is the core idea embedded in the creation of the single market. One rule instead of 27 means less administrative burden, less costs, and a better level playing field.

    But currently diverging implementation and fragmentation of legislation by the Member States create barriers in the single market. Therefore, the Commission needs to base its single market strategy on the idea of more Europe in legislation, implementation and enforcement.

    My second point, enforcing and developing the digital single market. Last term’s milestone legislations, the Digital Services Act, the Digital Markets Act and the world’s first AI Act now need to be enforced to ensure fair competition and a safe and trustful online environment. We therefore highly welcome the recent decision of the Commission to impose fines against Apple and Meta for their non-compliance with the Digital Markets Act, and we expect a continuous, rigorous enforcement also in other cases.

    And let me say it very clearly, especially regarding the pressure from the other side of the Atlantic. We do not let ourselves blackmail. We don’t trade away our tech regulation. Our laws are not for sale because they protect consumers, democracy and smaller companies.

    Three. The green transition. Also, the reports of Letta and Draghi make clear the transition towards a green and circular economy is a must, and to ensure our future competitiveness, we need to prepare for the economic disruptions the climate crisis will bring.

    Following a clear and predictable path for businesses accompanied by investment and strengthened public services, next to better labelling and fighting greenwashing, we need to create a real single market for second-hand goods and the Circular Economy Act. Digital tools can smoothen the complex processes of public procurement. Thus, we can simplify and create lead markets for sustainable products, quality jobs and regional value at the same time.

    Four consumer protection. A flourishing single market and high consumer protection are two sides of the same coin. A single market cannot function without strong consumer protection in both online and offline markets. So our resolution asks the Commission to come up in due course with a Digital Fairness Act. Targeted advertising, advertising of influencers, dark patterns and dynamic pricing, as well as the protection of minors, are challenges that this act needs to tackle.

    With a rapidly rising share of e-commerce, millions of parcels land directly at the consumer’s doorsteps, often from China, often not complying with our standards. This leads to safety risks and creates an uneven level playing field for European businesses.

    Therefore, the Commission must act. We need a swift implementation of the communication on e-commerce. We need to faster deploy the digital product passport and tracing laws to finalise the customs reform and to step up enforcement.

    More e-commerce leads to completely overloaded national market surveillance authorities. And that is why we need more European enforcement in order to live up to the giant online platforms, which is why the IMCO Committee, in our resolution, we call to reform the Consumer Protection Cooperation Network and for harmonised investigation to better fight unsafe products.

    Only joint action on EU level can get the tsunami of packages under control. So this is what the Imco committee suggests, and we hope that the Commission takes it into account in its upcoming single market strategy.

     
       

     

      Stéphane Séjourné, Vice-président exécutif de la Commission. – Monsieur le Président, Mesdames et Messieurs les députés, je remercie évidemment le Parlement européen pour ce débat, et je vous remercie en particulier, Madame la Présidente Cavazzini, car votre question orale couvre tous les grands enjeux relatifs au marché intérieur. Elle réaffirme d’ailleurs son rôle essentiel pour la prospérité de l’Europe.

    C’est aussi l’ambition que portera la stratégie pour le marché unique que la Commission présentera dans deux semaines exactement. Une ébauche de cette stratégie a, vous le savez, déjà fuité dans la presse. Je vais donc en dire quelques mots avant de répondre très concrètement à l’ensemble des questions qui sont posées par la rapporteure.

    Revenons ensemble sur le contexte, tout d’abord, puisque, après les excellents rapports, qui ont été unanimement salués, d’Enrico Letta et de Mario Draghi, les tensions et la fragmentation géopolitiques nous rappellent que le marché intérieur est notre premier atout et que les meilleurs partenaires des Européens sont les Européens eux-mêmes. Face à l’urgence de mieux puiser dans ce formidable espace économique, je propose donc une méthode ainsi qu’un certain nombre de compromis que nous devons collectivement trouver ensemble. D’abord, la méthode, qui consiste à s’attaquer aux barrières les plus coûteuses et les plus concrètes pour notre marché intérieur. Puis des compromis, qu’il faut que l’on fasse également, entre les États, avec les États membres, mais également entre les groupes politiques.

    Il est également question d’avoir moins de barrières internes contre plus de protection à l’extérieur. Vous parliez éminemment du commerce extérieur et du e-commerce, qui est probablement la cause, dans ce moment précis, d’un certain nombre de dérégulations de notre marché intérieur. Se protéger davantage de l’extérieur, mais dans un esprit d’ouverture aux nouveaux partenariats commerciaux, tout en adoptant une doctrine de la préférence européenne, du «made in Europe», pour certains secteurs stratégiques.

    Je serai ravi de revenir vers cette assemblée lors de la miniplénière du mois de mai pour présenter très officiellement la stratégie sur le marché intérieur. Je vais maintenant revenir sur les questions que vous avez posées dans votre résolution.

    Vous le savez, les efforts pour renforcer notre marché intérieur doivent être partagés par tous les acteurs de l’Union européenne. Au sein de la Commission, mes collègues et moi-même avons compté et savons pouvoir compter sur l’engagement du Parlement européen sur cette question. Bien évidemment, les États membres sont des acteurs centraux et, je le dis sans ambages, trop souvent encore, la lettre et l’esprit des règles adoptées au niveau européen se perdent au niveau national, souvent en raison d’une sous-transposition, parfois d’une surtransposition, parfois même d’une absence totale de transposition.

    Quelques mots sur les biens et les services en général. La libre circulation est effective pour les biens. Néanmoins, comme vous l’avez souligné très justement, Madame la Rapporteure, nous devons faire face à l’émergence de nouvelles problématiques, notamment en termes de conformité, de durabilité et également de transparence envers les consommateurs.

    En ce qui concerne la conformité, je pense par exemple à l’explosion du e-commerce, comme je l’évoquais en introduction. Elle exige de notre part des douanes fortes, des contrôles homogénéisés partout en Europe. Ce n’est pas encore le cas aujourd’hui et je voudrais vraiment remercier le Parlement européen pour sa proposition ambitieuse sur le sujet. La balle est maintenant dans le camp des États membres pour ce qui est de la réforme des douanes et nous allons également porter cette dynamique. La montée du e-commerce exige également des mécanismes de surveillance du marché plus harmonisés et plus performants.

    En matière de durabilité, un marché intérieur pour l’économie circulaire est nécessaire pour mettre en œuvre le droit à la réutilisation ainsi qu’à la réparation. Nous y travaillerons également avec vous.

    Quant à la transparence, je pense évidemment à la «shrinkflation», ce phénomène sur lequel vous avez souhaité interpeller la Commission, mais aussi à la «skimpflation». Le premier consiste à réduire la quantité à prix constants et, le second, à réduire le niveau de service sans réduire le prix. Ce sont de nouveaux mots-valises qui mettent le doigt sur un manque de transparence grandissant pour les consommateurs, sur lequel le Parlement européen et les institutions doivent se pencher. Des garde-fous réglementaires existent déjà à l’échelle de l’Union européenne pour mieux protéger les consommateurs et les États membres doivent mettre en place les dispositions que nous avions proposées – et les mettre en place pleinement. La Commission continuera en tout cas, de son côté, à aider les États membres, à travers des réseaux dédiés de coopération en la matière, et nous veillerons également à inscrire ces problématiques au cœur de l’agenda des consommateurs pour la période 2025-2030, sous la responsabilité du commissaire McGrath.

    Ensuite, Monsieur le Président, après les biens, quelques mots sur les services. Là aussi, vous interpellez la Commission sur les risques persistants de fragmentation de notre marché. Il est vrai que la situation actuelle est loin d’être satisfaisante. Près de deux tiers des barrières qui existent aujourd’hui sont les barrières qui existaient il y a 20 ans et qui persistent encore aujourd’hui. En particulier, l’accès à près de 5 700 services réglementés est encore très entravé au niveau des États membres, tandis que l’hétérogénéité des régimes concernant les travailleurs détachés ou les saisonniers complique encore un peu plus les services et les investissements transfrontaliers. Nous devons y remédier une bonne fois pour toutes. C’est pour cela que nous proposerons des solutions concrètes pour faciliter le recrutement des travailleurs et la reconnaissance des compétences et des qualifications dans les professions réglementées. Elles s’inscriront dans l’initiative de la Commission pour la portabilité des compétences, qui sera publiée à la fin de l’année prochaine. Nous allons également privilégier une approche sectorielle dans les services pour être plus efficaces.

    Votre question orale évoquait également la protection des consommateurs, en particulier eu égard aux usages numériques. J’ai parlé de l’explosion du commerce en ligne, mais, vous le savez, nous avons également voté, lors de la dernière mandature, le règlement sur les services numériques (DSA). L’Union européenne s’est dotée d’un outil unique au monde qui responsabilise les plateformes. Nous disposons également d’un règlement sur les marchés numériques (DMA), qui permet au plus grand nombre d’acteurs, quelle que soit leur taille ou leur statut, d’entrer sur le marché, lequel était jusque-là verrouillé par ceux qu’on appelle les «gate keepers». La mise en œuvre du DSA et du DMA démarre à peine, mais nous continuons et continuerons à porter exactement la même ambition pour ces deux textes que lors de la mandature précédente. Ils seront mis en œuvre par les différentes directions de la Commission et sous la supervision d’Henna Virkkunen, responsable de ces questions-là.

    Madame la Rapporteure, Monsieur le Président, je voudrais terminer par un mot, puisque je l’évoquais également en introduction: lors de la présentation de la stratégie sur le marché unique, qui occupera une place essentielle dans nos débats vers la fin de l’année, ce sera l’occasion pour nous d’accorder également une place à la question de la simplification. C’est du reste pour cela que nous présenterons, le 21 mai, le quatrième train de mesures omnibus de simplification. Son objectif est assez clair: pour nous, il s’agit de libérer le potentiel de toutes les entreprises qui font et organisent le marché unique et qui y opèrent. Nous travaillons sur deux enjeux en particulier: la définition des petites entreprises à moyenne capitalisation, qui est très attendue par les parlementaires, et la numérisation des procédures administratives et la mise en conformité pour les produits entrant sur le marché. Je sais pouvoir compter sur l’approche constructive du Parlement européen pour faire avancer ce dossier rapidement. Je me réjouis de cette opportunité de pouvoir recueillir, lors de ce débat, vos suggestions et vos priorités.

     
       

     

      Andreas Schwab, im Namen der PPE-Fraktion. – Herr Präsident, Herr Kommissar, liebe Kolleginnen und Kollegen! Alle Jahre wieder kommt eine neue Binnenmarktstrategie, und häufig steht in der neuen genau das drin, was in der alten auch drinstand. Insofern freue ich mich, Herr Kommissar, dass Sie in Ihrer Analyse des Europäischen Binnenmarktes für Güter und Dienstleistungen doch einige erfrischende neue Analysepunkte aufgegriffen haben. Allerdings bleibt das Problem so, wie Sie es beschrieben haben, das gleiche: Viel europäische Rechtsetzung verliert sich in ihrem Geist in den Mitgliedstaaten. Deswegen wird es entscheidend darauf ankommen, dass die Mitgliedstaaten, gerade auch die großen wie Deutschland und Frankreich, ihrer Verantwortung gerecht werden.

    Und das Zweite ist, dass wir es uns nicht zu leicht machen dürfen, hier im Europäischen Parlament über die Zölle der Amerikaner zu lamentieren – die möglicherweise 10 Prozent weitere Hindernisse bedeuten –, aber gleichzeitig die 40 Prozent vergessen, die wir selber innerhalb des europäischen Marktes noch immer nicht beiseite geräumt haben. Deswegen ist es eine harte Arbeit, mit der Binnenmarktstrategie zu versuchen, konkrete Anknüpfungspunkte für eine Vereinfachung zu finden. Die Entsendung von Arbeitnehmern, die ja vor allem in den Grenzregionen ein großes Problem ist, haben Sie bereits mit einem Vorschlag angegangen. Wir müssen alles dafür tun, dass alle Mitgliedstaaten dabei mitmachen, weil ansonsten der Vorschlag nicht die gewünschte Wirkung mit sich bringt.

    Wir müssen die europäische Zollpolitik neu bewerten, weil wir mit einer einheitlichen Zollorganisation natürlich sehr viel effektiver gegen Temu und Shein vorgehen könnten, wenn wir den Tsunami der vielen kleinen Pakete aus Fernost bekämpfen wollen. Aber, Herr Kommissar, gemeinsam mit Ihrem für den Zoll zuständigen Kollegen arbeiten wir daran schon seit über 15 Jahren. Und die Mitgliedstaaten haben jedes Mal Schwierigkeiten bereitet, wenn es um mehr Vereinheitlichung gegangen wäre.

    Das Dritte ist: Natürlich ist es populär, im Digitalraum jetzt Forderungen aufzustellen. Aber der Kern, wo wir neues Wachstum in Europa recht einfach generieren können, bleibt der klassische Binnenmarkt für Güter und Dienstleistungen. Deswegen müssen wir dort unbedingt ran. Deswegen hoffe ich, dass Ihre Strategie uns neue Wege aufzeigt.

     
       

     

      Laura Ballarín Cereza, en nombre del Grupo S&D. – Señor presidente, señor vicepresidente, la semana pasada, en España, tuvimos un apagón que dejó al país sin luz, sin teléfono y sin transporte. Yo estuve allí y tuve suerte, pero millones de personas se quedaron sin conexión, caminando horas desde sus lugares de trabajo a sus casas. Y en esta situación de emergencia, empresas como Cabify, Uber o Bolt aumentaron los precios de sus servicios un 300 %. Esta es una nueva práctica comercial derivada de la economía digital llamada «precios dinámicos», que hemos querido recoger en la Resolución que hoy votamos.

    Este Parlamento pide a la Comisión Europea que proponga regulación para abordar este problema y proteger a los consumidores, especialmente en la futura Ley de Equidad Digital, que también tiene que proteger a los menores en línea, porque la simplificación no nos va a salvar de todos los males. Nosotros —los consumidores, las familias— esperamos leyes que nos protejan de los abusos de las grandes compañías tecnológicas.

     
       

     

      Klara Dostalova, za skupinu PfE. – Pane předsedající, kolegyně, kolegové, návrh usnesení slibuje řešení starých výzev a nových obchodních postupů, ale zatím zůstává u prázdných slov. A právě to je dnes bohužel typické pro přístup Komise ke všemu, co vzejde z Parlamentu – skvělé slogany, málo výsledků. Ano, oceňuji důraz na snižování administrativní zátěže a podporu malých podnikatelů. Ano, naše spotřebitelské právo je silné, ale Komise opět ukazuje, že slyší jen to, co chce slyšet. Ochrana spotřebitelů je sice důležitá, ale v realitě dnes lidé čelí dramatickému růstu životních nákladů a nejsou schopni naplnit ani základní potřeby. A co na to Komise? Nic. Ani zmínka o tom, že přemrštěné ekologické ambice je potřeba přehodnotit. V tomto ohledu Komise zcela selhává.

    A Ukrajina? Její začlenění na jednotný trh je vydáváno za politický triumf. Ale nikdo se vážně neptá: Jakou cenu za to zaplatíme? Zavírání očí před rozdílnými standardy a problémy zničí rovné podmínky pro naše podniky. Pokud má jednotný trh fungovat, potřebujeme méně ideologických experimentů a víc zdravého rozumu. Komise musí přestat přehlížet realitu a začít chránit to, na čem Evropanům skutečně záleží – férové pracovní podmínky, konkurenceschopné firmy a dostupné bydlení. Slova nestačí. Potřebujeme činy a odvahu přiznat si, kde Komise opakovaně selhává.

     
       

     

      Stefano Cavedagna, a nome del gruppo ECR. – Signor Presidente, signor Commissario, onorevoli colleghi, mentre qui a livello parlamentare si parla troppo spesso di dazi, si parla di imposizioni sull’import, si parla tantissimo di Green Deal, si parla di tanti agenti extra mercato europeo, ci dimentichiamo di quello che noi siamo e di quello che dobbiamo essere. E purtroppo i dati sono molto chiari.

    Mentre il resto del mondo cresce, l’Europa è sostanzialmente ferma in stagnazione economica. Va avanti grazie solo ad alcuni Paesi, tra i quali l’Italia, ma la crescita è comunque modesta, generalizzata nel nostro continente.

    Vogliamo meno burocrazia, vogliamo una migliore semplificazione, vogliamo lasciare le imprese europee libere di poter lavorare e di poter competere ad armi pari con il resto del mondo. E sono sicuro che lo faremo al meglio.

    Chiediamo anche un grande investimento in termini di intelligenza artificiale, con delle vere e proprie infrastrutture europee che ci permettano di non dipendere dall’altra parte dell’oceano o dall’Oriente che troppo spesso è più un pericolo che una risorsa.

     
       

     

      Svenja Hahn, im Namen der Renew-Fraktion. – Herr Präsident, liebe Kolleginnen und Kollegen! In geopolitisch unsicheren Zeiten müssen wir unseren Binnenmarkt radikal ausbauen. Unsere wirtschaftliche Stärke macht uns erst zu einem attraktiven Partner. Und wenn Partner wie die USA eben nicht mehr verlässlich sind, müssen wir unseren Heimatmarkt attraktiver machen, auch für unsere eigenen Unternehmen. Es muss endlich Schluss sein mit dieser regulatorischen Kleinstaaterei – ein Produkt, eine Dienstleistung, ein Markt nach denselben Regeln.

    Wir müssen rigoros Bürokratie abbauen, alle Binnenmarktgesetze auf den Prüfstand stellen. Und ich möchte vor allen Dingen daran erinnern: Wettbewerbsfähigkeit kommt von Wettbewerb. Ich bin ein bisschen skeptisch gegenüber unverhältnismäßigen staatlichen Eingriffen wie bei Leitmärkten. Das ist kein Garant, dass sich am Ende das beste Produkt zum besten Preis durchsetzt, sondern eben das politisch gewollte Produkt. Und ich baue wirklich auf die Kommission und Kommissar Séjourné, dass Sie den Mut haben, den Binnenmarkt groß zu machen. Denken Sie die Strategie groß, doktern Sie nicht nur an Kleinigkeiten herum. Wir müssen unseren Binnenmarkt jetzt stärken, damit wir in der Welt stärker werden. Andersrum gilt: Wer jetzt den Binnenmarkt nicht stärkt, schwächt uns in der Welt.

     
       


     

      Hanna Gedin, för The Left gruppen. – Herr talman! Ibland undrar jag om vi lever i samma verklighet. Frågar man kommissionen eller EPP eller högern i mitt hemland om vad som hotar EU:s ekonomi, så får man höra att miljökraven är för höga för företagen, att det är för svårt att konkurrensutsätta offentlig sektor, att det behövs färre regler och fler avregleringar. Men jag ser en helt annan verklighet.

    Jag ser människor som knappt får lönen att räcka till mat, jag ser arbetare som tvingas flytta från land till land, från gig till gig i en marknad där trygghet ses som hinder för flexibilitet. Jag ser en inre marknad som snarare än att lyfta villkoren för alla driver ett race to the bottom: på löner, arbetsrätt, välfärd och miljö.

    Det vi debatterar i dag genomsyras av samma logik. Färre hinder, snabbare upphandlingar, mer flexibilitet, mindre demokratiskt inflytande – allt för marknaden. Men vad händer när vi river regler för företagen? Vi river också ofta skydd för människor. Vi river regler som finns där för att trygga vår vardag, för att säkra schysta arbetsvillkor, för att bevara vår miljö och för att hålla demokratin levande.

    Vi i vänstern vill säga att det här är fel väg. Vi behöver inte färre regler, vi behöver rätt regler: regler som skyddar människor, inte vinstmarginaler, regler som sätter klimat, jämlikhet och trygghet över marknadslogik. För det är inte vi som är orealistiska – det är den blinda tron på avreglering som är det verkliga hotet mot framtiden.

     
       

     

      Pablo Arias Echeverría (PPE). – Señor presidente, señor comisario, en 2023 celebramos el trigésimo aniversario del mercado único. La construcción de esta Unión de libre circulación de bienes, servicios, capitales y personas refleja los valores y principios que compartimos; un proyecto que se ha convertido en el faro que guía la economía de la Unión Europea.

    Pero también existen sombras —sombras que debemos disipar—. Draghi y Letta lo han dejado muy claro: buscamos ser competitivos, sí, pero tenemos un mercado fragmentado. Buscamos ser innovadores, sí, pero ponemos trabas a nuestras pymes, start-upsscale-ups, y dejamos que el talento se nos escape. Buscamos liderazgo, sí, pero ponemos cargas administrativas que ralentizan el crecimiento de nuestras empresas. Buscamos un mercado único, sí, pero nos encontramos con un exceso de normas desiguales en ese mismo mercado y proteccionismos nacionales.

    Lo que antes era capaz de aguantar nuestro mercado, hoy se antoja imposible. La coyuntura actual a nivel global nos exige abordar estas sombras con diligencia y determinación. La tarea no es sencilla: simplificación, menos burocracia, facilidades para financiar iniciativas digitales privadas, innovación, retención y atracción de talento. Necesitamos menos normas, pero iguales para todo el mercado, con el mismo nivel de garantías y protección. En definitiva, más seguridad jurídica.

    Los Estados miembros y las instituciones europeas tenemos que tener la suficiente altura de miras para abordar estas reformas estructurales, porque no nos jugamos mucho; probablemente, nos lo jugamos todo, señor comisario.

    Cuando todos dimos la bienvenida a los informes Letta y Draghi, ¿era solo una foto o era un compromiso? En el caso del Partido Popular, se lo aseguro: un compromiso. Espero que también lo sea para la Comisión y para el Consejo.

     
       

     

      Alex Agius Saliba (S&D). – Sur President, Is-suq uniku Ewropew jibqa’ wieħed mill-aktar elementi importanti fil-proġett Ewropew għaċ-ċittadini tagħna. Però huwa importanti li dan is-suq jibqa’ jevolvi, ir-regoli tiegħu jibqgħu jevolvu, sabiex fl-aħħar mill-aħħar naraw illi r-realtajiet tal-iktar Stati Membri li jinsabu fil-fruntiera, il-gżejjer, dawn l-istess regoli jkunu qegħdin jaħdmu favur tagħhom ukoll.

    U hawnhekk nixtieq nitkellem ukoll fuq realtajiet partikolari differenti li Stati Membri żgħar bħal Malta qegħdin jaffaċċjaw, b’mod speċjali minħabba żidiet fil-prezzijiet, inflazzjoni tal-aktar prodotti essenzjali f’dan is-suq komuni. U allura huwa importanti li naraw li jkollna aktar flessibilità fejn jidħlu r-regolamenti tas-suq uniku Ewropew sabiex jaraw illi Stati Membri żgħar u gżejjer ikunu fl-aħħar mill-aħħar jistgħu jibbenefikaw minn dan id-dritt, id-dritt tal-moviment u l-libertà tal-moviment għall-prodotti u s-servizzi, kif fl-aħħar mill-aħħar jibbenefikaw pajjiżi ferm ikbar minna.

    Imma fl-aħħar mill-aħħar ukoll huwa essenzjali li naraw illi jkollna regoli aktar stretti fejn jidħol ukoll l-importazzjoni tal-prodotti barra mill-Unjoni Ewropea. F’suq fejn qed imur aktar fuq bażi online milli fil-ħwienet tradizzjonali huwa importanti li naraw illi jkollna l-istess tip ta’ regoli u l-istess tip ta’ drittijiet għall-konsumaturi li jixtru fuq bażi online u dawk illi jixtru fuq bażi offline.

    Imma dan ma nistgħu nagħmluh qatt billi ngħabbu b’aktar piżijiet, speċjalment piżijiet finanzjarji, lill-konsumaturi tagħna.

     
       


     

      Kamila Gasiuk-Pihowicz (PPE). – Mr President, Commissioner, dear colleagues, the internal market is one of our greatest achievements and yet our businesses and our consumers still face barriers, are confronted with unpredictable legislative changes and a lack of consistency in the implementation of our single market rules.

    We need to simplify our rules we currently have in place, making sure that we keep those that protect consumers and entrepreneurs, but remove those that create excessive burdens. It is not enough to cut norms on paper, to delay them or to simply exempt certain categories. We need to change them in substance in order to make them easier to comply with.

    Online, our businesses face the challenge of complying with all these norms while foreign traders, especially from Asia, China ignore our rules and yet face little or no consequences at all. This is not a fair situation.

    The Commission is currently working on a new Digital Fairness Act (DFA). Before this is presented, the Commission should present a plan to cut unnecessary norms and only then legislate, in a very targeted manner. The next DFA cannot be another DSA. Businesses and consumers need predictability and a level playing field through the enforcement of existing norms.

     
       


     

      Elisabeth Dieringer (PfE). – Herr Präsident, sehr geehrte Damen und Herren! Wieder einmal erleben wir, wie die EU mit ihrem Entschließungsantrag zum Binnenmarkt große Worte schwingt, aber an den eigentlichen Problemen unserer Wirtschaft und unserer Bürger vorbeigeht. Seit Jahren hören wir Versprechen über Bürokratieabbau und weniger Belastung für unsere Unternehmen. Doch die Realität sieht anders aus: immer neue Vorschriften, immer mehr Regulierung, immer weniger Freiheit für unsere heimischen Betriebe.

    Der Binnenmarkt soll ein Motor für Wohlstand und Wachstum sein, doch stattdessen werden unsere kleinen und mittleren Unternehmen durch eine zu große Anzahl an EU‑Regeln und Berichtsanforderungen ausgebremst. Die Kommission redet von Innovation und Wettbewerbsfähigkeit. Aber in Wahrheit profitieren vor allem die Großkonzerne, während unsere regionalen Betriebe mit immer neuen Hürden kämpfen müssen. Wir fordern: Schluss mit der Überregulierung und den realitätsfernen Vorgaben aus Brüssel! Der Binnenmarkt muss endlich wieder den Menschen und Unternehmen dienen, die hier arbeiten und Steuern zahlen, nicht den Interessen globaler Konzerne oder den ideologischen Träumereien einer EU‑Elite. Weniger Bürokratie, mehr Eigenverantwortung und echte Wettbewerbsfähigkeit – das ist unser Weg für einen starken Binnenmarkt.

    (Die Rednerin ist damit einverstanden, auf eine Frage nach dem Verfahren der „blauen Karte“ zu antworten.)

     
       



     

      Tomislav Sokol (PPE). – Poštovani predsjedavajući, povjereniče, kolegice i kolege, Draghijevo izvješće jasno je pokazalo da troškovi koji proizlaze iz prevelikog broja propisa, kako europskih tako i nacionalnih, i dalje su vrlo visoki za europska poduzeća. To regulatorno opterećenje i fragmentacija posebno opterećuju mala i srednja poduzeća, koče inovacije i slabe našu konkurentnost na globalnoj razini.

    Prošlo je više od četiri godine otkako sam kao izvjestitelj Kluba EPP‑a za usluge na jedinstvenom tržištu upozoravao na prepreke slobodnom kretanju usluga. Nažalost, uslužni sektor koji zapošljava dvije trećine radne snage i stvara 9 od 10 novih radnih mjesta i dalje ostaje najslabije razvijen dio jedinstvenog tržišta. To je nedopustivo jer propuštamo priliku za rast, zapošljavanje i globalnu konkurentnost. Stoga je krajnje vrijeme da uklonimo preostale prepreke i taj golemi gospodarski potencijal pretvorimo u nova radna mjesta, veće ulaganje i gospodarski rast Unije.

    Bez pravog jedinstvenog tržišta nećemo se moći natjecati s globalnim konkurentima, a posebno je važno osiguravanje poštene tržišne utakmice. Karteli multinacionalnih kompanija koji održavaju visoke cijene hrane i drugih proizvoda apsolutno su nedopustivi. Također, implementacija Zakona o digitalnim tržištima, kojim će se stati na kraj zlouporabama od strane digitalnih divova, mora biti prioritet. Osim toga, u uvjetima brutalne globalne kompeticije, davanje prednosti europskim proizvodima i uslugama sasvim je legitimna opcija za zaštitu naših interesa.

    Na kraju, moramo zaštititi potrošače od nekvalitetnih i često opasnih proizvoda kupljenih preko interneta iz trećih država. Digitalne platforme moraju snositi odgovornost za štetu koju takvi proizvodi nanesu kupcima. Jedino tako ćemo ih natjerati da ozbiljno kontroliraju što se preko njih prodaje i zaštititi naše potrošače.

     
       

     

      Pierre Jouvet (S&D). – Monsieur le Président, Monsieur le Commissaire, envoyer un colis de Pékin à Strasbourg coûte moins cher qu’affranchir une carte postale pour écrire dans son propre pays.

    En 2024, 4,6 milliards de paquets expédiés par Temu, Shein ou AliExpress sont entrés en Europe: c’est 300 % d’augmentation en quatre ans. Ces produits sont fabriqués à perte puis expédiés grâce aux subventions publiques. Leurs producteurs détruisent la planète et pratiquent aussi l’esclavage moderne. Comble de l’absurdité et de l’hypocrisie, et signe aussi de notre complicité, ces colis d’une valeur de moins de 150 euros sont exonérés de droits de douane.

    Ces colis sont un poison lent qui tue notre planète, notre économie et nos emplois. Camaïeu, ChaussExpo, Casa, Jennifer: combien d’autres PME encore allons-nous laisser disparaître? Ces petits colis sont un grand poison et nous devons, en Europe, sortir de cette naïveté, changer nos règles douanières et assumer de protéger nos consommateurs, nos entreprises et nos emplois.

     
       

     

      Zala Tomašič (PPE). – Gospod predsednik. Leta 2023 je bilo na dnevni ravni približno 12 milijonov spletnih naročil z evropskega trga v tretje države, od tega 91 % iz Kitajske. Ko pogledamo te številke, je logično, da naši cariniki ne morejo kontrolirati vsega. Vemo tudi, da velikokrat izdelki iz Kitajske ne dosegajo evropskih standardov.

    Jaz verjamem v prosti trg in verjamem, da regulacija oziroma več regulacije ni odgovor na vse. Kot tudi ni odgovor na vse pritisk na naše platforme za težave, ki so povzročene drugje, posebej v državah, kjer imamo probleme z zagotavljanjem legitimnosti certifikatov.

    Mislim, da moramo nazaj prinesti tudi osebno odgovornost vseh nas potrošnikov in se moramo zavedati, da s tem, ko naročamo s kitajskih platform, ne škodimo le evropejski industriji, ampak tudi na koncu samemu sebi in našemu zdravju. Poleg tega pa tudi rabimo na evropski ravni rešitev glede vprašanja vplivnežev, a da bo to poenoteno in da bo tudi priznan njihov status kot ustvarjalcev vsebin, in ne le kot oglaševalcev.

     
       

     

      Δημήτρης Τσιόδρας (PPE). – Κύριε Πρόεδρε, κύριε Αντιπρόεδρε της Επιτροπής, τα εμπόδια εντός της ενιαίας αγοράς της Ευρωπαϊκής Ένωσης ισοδυναμούν με δασμούς 45% για τη μεταποίηση και 110% για τις υπηρεσίες. Οι αριθμοί είναι αποκαλυπτικοί και μας υπενθυμίζουν σε ποια κατεύθυνση πρέπει να κινηθούμε.

    Για αυτό τον λόγο χαίρομαι, γιατί το ψήφισμα που έχουμε στα χέρια μας κάνει συγκεκριμένη αναφορά στους γεωγραφικούς και εδαφικούς περιορισμούς, οι οποίοι συρρικνώνουν την αγοραστική δύναμη των Ευρωπαίων πολιτών και πλήττουν τις μικρομεσαίες επιχειρήσεις. Είναι ένα θέμα που πολλοί συνάδελφοι έχουμε επισημάνει, ζητώντας μέτρα. Είναι απαράδεκτο, σε μια ενιαία αγορά, ορισμένες πολυεθνικές εταιρείες να εκμεταλλεύονται τη θέση τους προκειμένου να χρεώνουν εξαιρετικά διαφορετικές τιμές για ίδια προϊόντα, ανάλογα με το μέγεθος της αγοράς και εις βάρος των καταναλωτών. Ενόψει και της στρατηγικής για την ενιαία αγορά, αναμένουμε τη νομοθετική πρόταση για να βάλουμε τέλος σε αυτές τις πρακτικές.

    Δεύτερον, χρειάζονται ακόμα πιο φιλόδοξα μέτρα για την απλοποίηση των κανόνων και τη μείωση του διοικητικού φόρτου που αντιμετωπίζουν οι μικρομεσαίες επιχειρήσεις. Η μείωση της γραφειοκρατίας κατά 35% είναι αδήριτη ανάγκη να επιτευχθεί.

    Τρίτον, παρά το γεγονός ότι η Ένωση έχει το πιο στιβαρό πλαίσιο προστασίας των καταναλωτών, μόνο το 28% έχει καλή γνώση των δικαιωμάτων του.

    Και, τέλος, χρειαζόμαστε ενίσχυση της εφαρμογής του ψηφιακού νομοθετικού πλαισίου με συντονισμένους ελέγχους από τις αρμόδιες υπηρεσίες και καλύτερη συνεργασία μεταξύ τους, για να διασφαλίσουμε ότι η νομοθεσία εφαρμόζεται στην πράξη.

     
       

     

      Regina Doherty (PPE). – Mr President, Commissioner, when it comes to commercial practices, online is the only show in town. But when it comes to consumer fraud, online spaces still remain a Wild West. We need all actors on board to ensure that we have a shared responsibility. Because today, citizens in Europe are subject to fake advertising and online scams on a near daily basis, often via social media platforms.

    Our own Irish Data Protection Commission has already issued over EUR 3.5 billion worth of fines, as well as corrective measures. But it’s all too easy to put fake advertisements purporting to be from regulated institutions online, and for unsuspecting citizens to be scammed out of their own money before the advert just simply disappears. Three in every four Irish people have encountered some form of suspicious activity online, whilst 45 % of Europeans stated they have experienced more suspicious activity compared with last year.

    We know that such incidents are hard to track and almost impossible to reverse after they happen. The Digital Services Act obliges platforms to take down illegal content once it has been reported. However, it creates few proactive obligations prior to publication or even reporting by individuals. So we need to look at ways to ensure that electronic communications providers verify with national competent authorities that advertisements purporting to be from regulated entities are, in fact, legitimate, so that we can protect our people and their hard earnings.

     
       

       

    Catch-the-eye procedure

     
       

     

      Vytenis Povilas Andriukaitis (S&D). – Mr President, dear Commissioner, you rightly mentioned that we are still 20 years speaking about the same problems. But now the digital union is not completed. The energy union is not completed. I know our railway infrastructure is in difficulties, and when we are speaking about the necessity to do something more, first of all, we need to stress very much that we need to develop pan‑European infrastructures in digital, in energy, in transport.

    And, of course, also Letta rightly mentioned the ‘fifth freedom’: freedom for research, investment and innovation. But it requires also infrastructure in our research and innovations. It means the life sciences strategy should be connected with the internal market strategy hand in hand, otherwise we can lose once again competitiveness, investment and progress. Made in Europe requires more integration.

     
       





       

    (End of catch-the-eye procedure)

    Written Statements (Rule 178)

     
       

     

      Stéphane Séjourné, Vice-président exécutif de la Commission. – Monsieur le Président, Monsieur Sieper, je suis désolé, je vais parler français, mais je crois que vous avez la traduction.

    Je vais peut-être vous donner quelques convictions suite à ce débat. D’abord, une conviction, c’est que nous ne pouvons pas regarder notre stratégie du marché intérieur en silos, comme cela s’est probablement beaucoup fait lors des dernières mandatures.

    Au vu du contexte international que nous connaissons, un nouvel équilibre économique est à trouver. Il s’agit à la fois d’œuvrer pour plus de marché intérieur et donc, je le répète, d’aller plus loin en ce qui concerne les biens et les services ou l’union des marchés des capitaux, d’organiser et de faciliter les déplacements des biens et des services plus largement, de retirer les barrières qui contraignent notamment la circulation des marchandises et des biens, dans le cadre de nos travaux et des compétences de l’Union européenne.

    Il s’agit aussi de travailler, au niveau national, sur les différences de réglementations qui créent des contraintes et – je crois que l’un de vous l’a expliqué assez justement – sur l’équivalent en droits de douane des différentes réglementations nationales, puisqu’il est d’actualité de parler en termes d’équivalent en droits de douane et que cela montre qu’il est urgent que nous agissions. 40 à 50 % de droits de douane sur les biens, plus de 100 % sur les services: je vois le coût que cela peut engendrer pour une entreprise de produire dans un pays européen et de commercialiser dans un autre. Le paradoxe de la situation, c’est qu’il est probablement plus rentable aujourd’hui de produire en Chine et d’exporter un petit colis vers les pays européens que de mettre en place toute la réglementation européenne pour commercialiser depuis la France, l’Allemagne, la Pologne ou l’Italie. C’est ce que nous devons régler dans les prochains mois.

    En parallèle, il faut protéger les frontières commerciales extérieures de l’Union européenne et donc avancer sur la réforme douanière. Elle est aujourd’hui bloquée au Conseil et les États membres doivent avancer, je l’ai dit en introduction de ce débat. Je consacrerai beaucoup de capital politique à ce que la réforme des douanes puisse progresser au même rythme que notre réforme et notre stratégie sur le marché intérieur. D’un côté, libéralisation et rupture des barrières restantes sur le marché intérieur, de l’autre, protection des frontières européennes en ce qui concerne l’e-commerce, notamment en avançant sur la question du contrôle. Je pense que c’est le bon équilibre qu’il faut pouvoir trouver collectivement dans cette maison.

    Un autre équilibre – le dernier, j’en resterai là – auquel travailler également dans les prochains mois et les prochaines semaines concerne les nouveaux accords commerciaux et la diversification que nous devons opérer alors que le monde est de plus en plus protectionniste. Oui, des accords avec de nouveaux pays, portant sur des secteurs particuliers, doivent être trouvés. La présidente de la Commission s’emploie, avec mon collègue Maroš Šefčovič, à trouver de nouveaux débouchés pour nos industries et nos entreprises à l’extérieur de l’Union européenne, à condition que nous puissions opérer une préférence européenne et donc choisir le «made in Europe» dans un certain nombre de secteurs stratégiques.

    Pour résumer, voilà, en quelque sorte, notre nouvel équilibre, qu’il faut que nous puissions trouver entre nous, collectivement: à la fois l’approfondissement du marché intérieur, la protection des frontières extérieures par rapport au e-commerce, pour protéger notre marché, et la diversification des accords commerciaux, alors que le commerce devient de plus en plus compliqué et que la guerre tarifaire et la guerre douanière entre la Chine et les États-Unis peuvent avoir un impact important sur notre économie, en contrepartie d’une préférence européenne sur un certain nombre d’achats publics. Vous aurez notamment, dans ce cadre-là, à travailler sur la réforme des marchés publics que la Commission présentera dans les prochains mois.

    Je remercie le Parlement, particulièrement la présidente Cavazzini, pour cette discussion et, encore une fois, je reviendrai parmi vous pour présenter très officiellement la stratégie de la Commission sur le marché intérieur, le 21 mai, à Bruxelles.

     
       


     

     

      Vasile Dîncu (S&D), în scris. – Piața internă europeană trebuie să servească oamenilor, nu invers. Dincolo de eficiență și competitivitate, trebuie să evaluăm cine câștigă și cine pierde în acest model economic.

    Trei provocări majore amenință să adâncească fragmentările sociale și economice dintre cetățenii europeni:

    1. fragmentarea digitală: platformele digitale domină piața, dar beneficiile sunt distribuite inegal. IMM-urile din estul Europei, cetățenii din zone rurale sau periferice sunt adesea excluși. Aplicarea fermă a DSA și DMA este necesară pentru o piață digitală incluzivă – unde toți au acces la oportunități.

    2. tranziția verde și riscul de a produce o Europă cu două viteze: Pactul Verde este necesar, dar aplicarea sa trebuie adaptată. Regiunile industriale care încă se recuperează după tranziția post-comunistă (Valea Jiului, zone monoindustriale din România, Bulgaria, Polonia) necesită sprijin specific, direcționat și just. Nu putem cere aceleași sacrificii de la cei care au mai puține resurse.

    3. drepturile lucrătorilor în economia digitală: prea mulți europeni trăiesc în precaritate – livratori, freelanceri algoritmizați, angajați temporari. Drepturile fundamentale – salariu decent, protecție socială, stabilitate – trebuie garantate și în economia digitală.

    Avem nevoie de o piață internă bazată pe echitate, solidaritate și demnitate umană. Este timpul pentru mai multă politică și mai puțină tehnocrație. Avem nevoie de curaj.

     
       

       

    (The sitting was suspended at 11:51)

     
       

       

    IN THE CHAIR: JAVI LÓPEZ
    Vice-President

     

    6. Resumption of the sitting

       

    (The sitting resumed at 12:04)

     
       


     

      René Aust (ESN). – Herr Präsident, meine sehr geehrten Damen und Herren! Letzte Woche, am 30. April, kam es im Paul‑Henri‑Spaak‑Gebäude vor den Büros unserer Mitarbeiter zu massiven Lärmbelästigungen und auch Drohungen gegenüber einem unserer Mitarbeiter. Gegen 18.00 Uhr hat eine große Gruppe von Besuchern der Linken, unterstützt von akkreditierten Assistenten und Mitarbeitern der Linken, eine Art Demonstration durchgeführt und abgehalten. Die Besucher, oder besser gesagt die Aktivisten, wanderten dann die Treppen nach oben Richtung Ausgang und haben dabei noch eine EU‑Flagge, die auf dem Ehrentisch mit dem Bild und dem Gedenkbuch für den verstorbenen Papst aufgestellt war, heruntergerissen und die Treppe hinuntergeworfen. Einer unserer Mitarbeiter, der die Aktivisten um Ruhe bat, wurde von einer Demonstrantin mit den Worten „Du wirst sterben!“ sogar mit dem Tode bedroht.

    Sehr geehrter Herr Präsident! So ein Verhalten ist völlig inakzeptabel und hat in unserem Haus nichts zu suchen. Ich ersuche Sie sicherzustellen, dass solche Aktionen künftig unterbunden werden und die Sicherheit aller Mitarbeiter und ein normales Arbeitsklima zu jedem Zeitpunkt gewährleistet sind.

     
       

     

      President. – Thank you very much. The President is aware about the incident. We will inform about the point of order. The services of the House will draw up a report and she will follow up.

    We have no more points of order.

     

    7. Voting time

     

      President. – The next item is the vote.

     

     

      President. – The first vote is on the joint motion for a resolution tabled by five groups on the arrest and risk of execution of Tundu Lissu, Chair of Chadema, the main opposition party in Tanzania (see minutes, item 7.1).

     

     

      President. – The next vote is on the joint motion for a resolution tabled by five groups on the return of Ukrainian children forcibly transferred and deported by Russia (see minutes, item 7.2).

     


       

    – Before the vote on the motion for a resolution:

     
       



       

    (Parliament did not agree to put the oral amendment to the vote)

     

    7.4. Ninth report on economic and social cohesion (A10-0066/2025 – Jacek Protas) (vote)

     

      President. – The next vote is on the ninth report on economic and social cohesion (see minutes, item 7.4).

     

    7.5. CO2 emission performance standards for new passenger cars and new light commercial vehicles for 2025 to 2027 (vote)

     

      President. – The next vote is on CO2 emission performance standards for new passenger cars and new light commercial vehicles for 2025 to 2027 (see minutes, item 7.5).

     

    7.6. The protection status of the wolf (Canis lupus) (vote)

     

      President. – The next vote is on the protection status of the wolf (Canis lupus) (see minutes, item 7.6).

     

    7.7. The role of gas storage for securing gas supplies ahead of the winter season (A10-0079/2025 – Borys Budka) (vote)



       

    (Parliament approved the request for referral back to committee)

     

    7.8. Screening of foreign investments in the Union (A10-0061/2025 – Raphaël Glucksmann) (vote)



       

    (Parliament approved the request for referral back to committee)

     

    7.9. Suspending certain parts of Regulation (EU) 2015/478 as regards imports of Ukrainian products into the European Union (A10-0059/2025 – Karin Karlsbro) (vote)


     

      Hans Neuhoff, im Namen der ESN-Fraktion. – Herr Präsident, geschätzte Kolleginnen und Kollegen! Ich beantrage gemäß Artikel 206 Absatz 4 der Geschäftsordnung die Vertagung der Abstimmung über diesen Punkt der Tagesordnung. Gestatten Sie mir zur Begründung wenige Worte: Solidarität mit Drittstaaten darf nicht zur Selbstaufgabe Europas werden. Unsere Unternehmen, vom industriellen Mittelstand über die Landwirtschaft bis hin zu großen industriellen Arbeitgebern, spüren die Folgen einer Handelspolitik, die einseitig auf die Ukraine ausgerichtet ist. Dumpingimporte gefährden nicht nur einzelne Branchen wie die Stahlrohrhersteller. Sie treffen die gesamte europäische Wertschöpfungskette, von den Grundstoffindustrien bis zu den weiterverarbeitenden Sektoren und Zulieferern.

    Diese Politik gefährdet Arbeitsplätze und Existenzen in ganz Europa – auch in der Landwirtschaft, auch im verarbeitenden Gewerbe. Wer heute für die weitere Aussetzung der Schutzmaßnahmen stimmt, entscheidet sich nicht nur gegen faire Wettbewerbsbedingungen, sondern auch gegen Menschen in unseren Regionen, die für Wohlstand und …

    (Der Präsident entzieht dem Redner das Wort.)

     
       



       

    (Le Parlement rejette la demande)

     
       

       

    – Before the vote:

     
       


       

    – Before the vote:

     
       

     

      Costas Kadis, Member of the Commission. – Mr President, honourable Members, the European Commission would like to make the following statement before the vote:

    “Should the Commission consider that extending the suspension of Regulation (EU) 2015/478 as regards imports of Ukrainian products into the European Union beyond 5 June 2028 is warranted in view of the situation at that point of time, the Commission will endeavour to submit to the European Parliament and the Council any proposal to that effect not later than nine months before the end of the application of this Regulation.”

    I would like also to clarify two very separate issues: namely the suspension of the general safeguard regulation or under its other name, the common rules for imports regulation, and the Article 29 consultation process.

    Regarding the draft Regulation that is being submitted to the vote now, I would like to clarify that once adopted, it would suspend the application of the basic safeguard regulation to imports of goods from Ukraine. While the suspension of the general safeguard regulation is of general nature, currently there is only one safeguard measure for steel products that would be affected by the suspension. Suspending the general safeguard regulation was technically the only way to suspend the application of the steel safeguard measure concerning Ukraine.

    Trade in agricultural products is being discussed in a separate framework, namely the Article 29 consultation process with Ukraine.

    To conclude, today’s draft regulation has no implication for the Article 29 process.

     

    7.10. Competition policy – annual report 2024 (A10-0071/2025 – Lara Wolters) (vote)


       

    – Before the vote on Amendment 1:

     
       

     

      Majdouline Sbai (Verts/ALE). – Monsieur le Président, il y a urgence: il faut sauver l’acier européen! Le directeur d’ArcelorMittal a annoncé que tous les sites sidérurgiques en Europe étaient menacés. La France risque de perdre l’ensemble de ses hauts-fourneaux. Comme l’a fait le Royaume-Uni, nous devons réagir vite. C’est pourquoi je vous propose l’amendement suivant au paragraphe 8 du rapport que nous votons:

    «le Parlement exprime sa profonde désapprobation face à la décision du groupe ArcelorMittal de supprimer jusqu’à 1 400 emplois en Europe occidentale, dont près de la moitié en France; souligne que le groupe a réalisé un bénéfice de 1,3 milliard d’euros et versé plus de 1,5 milliard d’euros à ses actionnaires en 2024; demande à la Commission et aux États membres de prendre des mesures pour que les entreprises bénéficiant d’aides publiques ne puissent pas, comme le fait ArcelorMittal, fermer des sites industriels, élaborer des plans de licenciement, délocaliser leurs activités, verser des dividendes à leurs actionnaires et renoncer à leurs objectifs de transition écologique; demande au gouvernement français de prendre toutes les mesures en son pouvoir pour protéger les travailleurs et préserver la sidérurgie en tant qu’industrie stratégique;»

     
       

       

    (Parliament agreed to put the oral amendment to the vote)

     

    7.11. Banking Union – annual report 2024 (A10-0044/2025 – Ralf Seekatz) (vote)

     

      President. – The next vote is on the banking union – annual report 2024 (see minutes, item 7.11).

     

    7.12. Objection pursuant to Rule 115(2) and (3): genetically modified soybean MON 87705 × MON 87708 × MON 89788 (B10-0244/2025) (vote)

     

      President. – The next vote is on the objection pursuant to Rule 115(2) and (3): genetically modified soybean MON 87705×MON 87708×MON 89788 (see minutes, item 7.12).

     

    8. Resumption of the sitting

       

    (Posiedzenie zostało wznowione o godz. 15.00)

     

    9. Approval of the minutes of the previous sitting

     

      Przewodnicząca. – Protokół wczorajszego posiedzenia oraz teksty przyjęte są już dostępne.

    Czy są jakieś uwagi? Nie widzę.

    Protokół został przyjęty.

     

    10. EU action on treating and preventing diseases such as cancer, cardiovascular neurological diseases and measles (debate)


     

      Costas Kadis, Member of the Commission. – Madam President, honourable Members of the European Parliament, in a strong European Health Union we should work to protect EU citizens from diseases, promote healthy living and foster innovation that supports these goals. The Commission is committed to delivering a European Health Union that helps improve the health of all our citizens, no matter where they live in the European Union.

    Cardiovascular diseases are the leading cause of death in the EU. Many of these deaths are premature. In the EU, 24 % of deaths among men before the age of 65 and 17 % of deaths among women before the age of 65 are due to cardiovascular diseases. Cardiovascular diseases and neurological disorders share common risk factors such as hypertension, diabetes, smoking and obesity.

    Vascular dementia is the second most common type of dementia, accounting for around 15-20 % of dementia cases in Europe. The Commission has started work on an ambitious and robust EU cardiovascular health plan. It will draw inspiration from the success of Europe’s Beating Cancer plan. Like the cancer plan, we will look at addressing key issues like prevention, early detection and screening, and treatment and care. We see a key role for innovative and personalised tools, including the European health data space, as well as new technologies like digital technologies and artificial intelligence. The cardiovascular plan will also build on existing efforts, in particular the Healthcare Together initiative, which helps Member States and stakeholders take action on non-communicable diseases.

    The second leading cause of death in the EU is cancer. The cancer plan was adopted in 2021, backed by significant EU funding. We published a review of the cancer plan in February which showed that 90 % of its actions have either been concluded or are ongoing in the area of prevention. This includes the Council recommendation on vaccine‑preventable cancers. This aims to encourage higher uptake of vaccinations against HPV and hepatitis B.

    Moreover, the Council recommendation on smoke- and aerosol‑free environments is a step towards a tobacco‑free generation by 2040. To build on this, we will evaluate and revise the EU’s tobacco legislation to enable every cancer patient to access high quality diagnosis and treatment. Member States will this year set up an EU network of comprehensive cancer centres under a joint action funded with EUR 90 million.

    The European Health Union is also about tackling infectious diseases. Measles is a serious disease and highly contagious. The recent spike in measles cases in Europe has already caused several deaths in Romania this year, yet measles can be avoided through vaccination. The outbreaks experienced by some Member States over the last 12 months can be linked to vaccination coverage below recommended levels, so I encourage everyone to ensure that they and their families are protected against this life‑threatening disease. The Commission will continue to work with Member States to improve vaccination coverage. We will also promote robust vaccination programmes and secure supplies of vaccines in the EU.

    As we build our European Health Union, we should put innovation at its heart. One promising avenue is biotechnology. Biotechnology could help us to better identify diseases, step up prevention, develop new, increasingly personalised medicines and provide new ways to develop, test and administer treatments. But the EU is not yet making the most of biotech. EU companies are not competitive enough and face too many barriers when it comes to turning ideas into products. This is why the Commission will propose a European Biotech Act. It will help companies bring products from the lab to the factory and onto the market.

    The Biotech Act will complement the ongoing revision of the pharmaceutical legislation. This already includes many measures to streamline and modernise the regulatory framework for medicines, especially for breakthrough therapies. Innovation will be a driving principle of the upcoming targeted review of the Medical Devices Regulation. The new rules will be more fit for the purpose. They will deliver medical devices to the patients in a more timely manner, and will create a more competitive environment for our industries.

    On breakthrough technologies, we have adopted regulatory pathways to quickly reach patients, especially children and rare‑disease patients, without compromising safety. Europe is losing ground in the field of clinical trials. Therefore, we will carry out an assessment of the current legislation and amend it to provide for a more efficient framework to make Europe a world leader in medical research and innovation.

    Honourable Members, we are better able to face public health challenges if we act together. This is why the Commission is committed to building a strong and innovative European Health Union. Thank you for your attention and I look forward to receiving your views.

     
       

     

      Tomislav Sokol, u ime kluba PPE. – Poštovana predsjedavajuća, povjereniče, kolegice i kolege, Europska unija je kroz godine pokazala da zajedničkim djelovanjem može postići velike rezultate za zdravlje naših građana. Jedan od najvažnijih primjera je europski plan za borbu protiv raka koji predstavlja prvu sveobuhvatnu strategiju protiv ove opake bolesti, od prevencije i istraživanja preko liječenja do poboljšanja kvalitete života osoba koje su preboljele rak.

    Sljedeći korak je donošenje europskog plana za kardiovaskularne bolesti koje su vodeći uzrok smrtnosti u Europi. On mora imati jasno definirane ciljeve, konkretno financiranje i jasan vremenski okvir za provedbu. Samo tako možemo postići stvarni napredak i smanjiti teret koji ove bolesti predstavljaju za naše zdravstvene sustave, gospodarstvo i obitelj.

    Uz to, inzistiramo, kao što smo više puta rekli na ovoj govornici, na donošenju europskog plana za rijetke bolesti jer su oboljeli od rijetkih bolesti i njihove obitelji predugo bili na margini zdravstvenih politika, često prepušteni sami sebi, suočeni s nedostatkom dijagnoza, terapija i sustavne podrške. Za 95 % njih još uvijek ne postoji lijek i vrijeme je da se to promijeni.

    Na kraju, građani od nas s pravom očekuju konkretan europski plan za neurološke bolesti koji bi svakako trebao uključiti i mentalne bolesti koje su u dramatičnom porastu, osobito među mladima.

    Da bismo sve ovo ostvarili zdravstvo mora ostati prioritet i u okviru sljedećeg sedmogodišnjeg proračuna jer ulaganje u njega nije trošak, već jedna od najisplativijih investicija, što pokazuju brojne studije. Ne smijemo dopustiti da se zdravstvo utopi u različite proračunske programe jer bi to značilo da se vraćamo u vrijeme kad je ono predstavljalo marginalnu temu u EU institucijama.

    Kolegice i kolege, zdravstvo mora ostati prioritet u djelovanju EU‑a i pozivam na zajedničko djelovanje svih političkih grupacija da se to i ostvari.

     
       

     

      Vytenis Povilas Andriukaitis, on behalf of the S&D Group. – Madam President, dear Commissioner, colleagues, the rise of certain non‑communicable diseases in the European Union is increasingly concerning. If we fail to act and learn from past experiences, like the COVID‑19 pandemic, we risk facing new outbreaks and epidemics.

    Twenty years ago, the European Union made a commitment to eliminate measles – to be measles‑free. Yet we are still far from that goal. The situation is further aggravated by growing societal scepticism, fuelled by misinformation and spread of unproven claims. In 2024, measles cases in the EU surged dramatically with over 32 000 reported diagnoses. This sharp increase highlights serious gaps in vaccination coverage, as 86 % of those infected had not been vaccinated.

    In an age where measles is entirely preventable through vaccination, it is unacceptable that this disease continues to spread, especially knowing that measles is highly contagious and can lead to severe complications such as pneumonia, encephalitis, and even death. To prevent further outbreaks, it is essential to ensure that at least 95 % of the population is vaccinated.

    Unfortunately, vaccination rates remain insufficient in many European countries. Governments must prioritise strong vaccination campaigns and actively combat vaccine hesitancy to protect public health. The measles, mumps and rubella vaccine remains the most effective tool to prevent measles, and we must also work to harmonise vaccination schedules across Member States to ensure this.

    This is why it is crucial to foster collaboration among Member States, recognising that in the Schengen zone, where people can move freely across borders, disease can easily spread between countries. Additionally, the shortage of healthcare professionals, especially in regions with insufficient medical staff, particularly nurses, further contributes to lower vaccination rates. The recent outbreaks in Romania, along with nearly 20 preventable deaths, serve as a stark reminder to the urgency of this issue. These tragic losses highlight the need for immediate actions.

    HERA must also address the state of crisis preparedness and take steps to prevent the situation from escalating further. In a world where vaccines are widely available, measles should no longer be a threat. As cases continue to rise, collective action is urgently needed to protect vulnerable populations.

     
       

     

      Margarita de la Pisa Carrión, en nombre del Grupo PfE. – Señora presidente, señor comisario, señorías, Europa no puede mirar hacia otro lado cuando hablamos de excelencia en salud. Nuestra cultura ha estado siempre orientada al desarrollo de la ciencia y las humanidades. Hemos formado generaciones de investigadores y profesionales sanitarios con talento, guiados por el compromiso con el bien común.

    Tenemos una responsabilidad de liderazgo, no solo por capacidad, también por principios, para que la salud esté guiada por el deseo de sanar, de proteger la vida, de acompañar y aliviar el sufrimiento, para que esté al servicio de la persona, y no de intereses ajenos a ella.

    Es imprescindible recordar que el cáncer se cobra la vida de casi 1,3 millones de personas en la Unión Europea al año. Las enfermedades cardiovasculares siguen siendo la principal causa de muerte y los trastornos neurológicos afectan a más de siete millones de personas. Debemos, como Europa, avanzar conjuntamente, compartir buenas prácticas entre Estados miembros. Apostemos por una Europa de cooperación, que intercambie experiencias eficaces y que se apoye mutuamente, siempre teniendo en cuenta las particularidades y necesidades de cada país.

    Los próximos años pueden ser revolucionarios para la medicina. Las nuevas herramientas —como la biotecnología o la medicina personalizada— ya hacen posible que nos enfrentemos a enfermedades que antes eran intratables. Sin embargo, su potencial se ve limitado por un marco regulatorio que dificulta transformar la investigación en soluciones reales para los pacientes. Las pymes, que lideran la innovación, se ven especialmente afectadas, también por la falta de financiación en las primeras etapas del desarrollo. Si queremos que Europa avance en salud y en innovación, necesitamos un entorno coherente y favorable que facilite la inversión y acelere la llegada de nuevos tratamientos a los pacientes.

    Por supuesto, se exige también una apuesta igualmente clara por los cuidados. Tenemos la posibilidad de ofrecer opciones esperanzadoras a todos aquellos que sufren enfermedades, no solo en cuanto a diagnóstico y a tratamiento, sino también en cuanto a acompañamiento.

    No es casualidad que cuanto menos se valora la vida, más se deterioran los sistemas sanitarios. En España, tenemos problemas gravísimos: listas de espera interminables, falta de profesionales sanitarios —y los que hay tienen que hacer jornadas maratonianas de trabajo—, miles de personas que mueren esperando acceder a cuidados paliativos… Pero, claro, ¿quién va a querer invertir en salud si no valoramos la vida? Resulta espeluznante pensar que hay países —como España— en los que la única alternativa que se ofrece a las personas con enfermedades graves sea la muerte, sea la eutanasia. No podemos resignarnos a un modelo sanitario que mida su eficacia por costes o por ideologías, sino por su capacidad de cuidar, de sanar, de respetar profundamente la vida humana en todas sus etapas.

    Frente al sufrimiento, nuestra respuesta debe ser más humanidad, más compromiso, más inversión en salud, investigación y también cuidados paliativos. Si Europa quiere ser referente en innovación, también debe ser referente en el respeto a la dignidad de la persona.

     
       

     

      Aurelijus Veryga, ECR frakcijos vardu. – Kolegos. Sveikata yra ne viskas, bet be sveikatos viskas yra niekas. Deja, dažnu atveju tą suprantame pavėluotai. Gaila, kad ir šiandien plačios ir labai skirtingos sveikatos temos – infekcinės ir lėtinės neinfekcinės ligos, kurioms reikalingi labai skirtingi sprendimai, yra suplaktos į vieną diskusiją. Labai gerai, kad Europos Komisija turi ambiciją šioje kadencijoje išplėsti veiklą, įtraukiant ne tik onkologinių ligų, bet ir širdies kraujagyslių ligų įveikos planą. Ir šioje kadencijoje bus ne viena proga pademonstruoti mūsų rimtą nusiteikimą imtis šių sveikatos problemų sprendimo. Pradėkime nuo to, kad jokiomis aplinkybėmis nebegalima leisti pasikartoti, kad būtų sumažintas finansavimas sveikatos programų ir mokslinių tyrimų finansavimui. Norėčiau tikėti ir tikėtis, kad išlaidos sveikatai sekančiame MFF neliks paskutinėje vietoje, kaip ši diskusija plenarinėje sesijoje, nes visada atsiranda svarbesnių reikalų. O nuveikti reikia labai daug. Ir nors sveikata yra šalių narių kompetencija, tačiau yra sričių, kur bendras veikimas galėtų prisidėti prie visų šalių narių problemų sprendimo. Turėsime ieškoti sveikatos specialistų trūkumo problemos sprendimų. Iš siūlymų, kuriuos šiandien girdžiu, jie ne tik nespręstų problemas, bet jas gilintų. Labai džiaugiuosi Komisijos ambicija dėl ypatingos reikšmės vaisto akto, kuris gali ir turėtų sukurti galimybę vaistų gamintojams sugrįžti ir veikti Europos Sąjungoje, o bendri vaistų pirkimai gali pagreitinti inovatyvių vaistų prieinamumą valstybėse narėse, ypač mažosiose, kurios šiuo metu yra nepatrauklios kaip mažos rinkos. XXI amžiuje onkologiniai pacientai skirtingose šalyse turi skirtingas galimybes gauti gydymą ir pagalbą, o kai kurie yra priversti net bylinėtis, kad tokią pagalbą gautų. Tai yra nepriimtina. Šiandien daug ir pagrįstai kalbame apie gynybos pajėgumų didinimą ir saugumo stiprinimą. Tačiau realybė yra tokia, kad negebama užauginti sveikos jaunosios kartos. Ir nemaža dalis jų dėl sveikatos problemų yra netinkami karinei tarnybai. Šioje kadencijoje turėsime galimybę peržiūrėti Tabako produktų direktyvą, ir noriu tikėti, kad ją peržiūrint sveikata bus prioritetas ir kad užteks išminties tvarkytis su Europa užplūdusi naujais produktais, tokiais kaip elektroninės cigaretės, nes jau šiandien turime daugiau nei pakankamai duomenų, kad jos nesprendžia, o kuria naujas sveikatos problemas.

     
       

     

      Vlad Vasile-Voiculescu, în numele grupului Renew. – Doamnă președintă, de obicei nu avem timp de povești aici. O să încep astăzi cu o poveste: pe 21 septembrie 2016 eram ministrul sănătății în România. 2016! Institutul Național de Sănătate Publică m-a informat atunci despre o creștere de la 7 la 675 de cazuri de rujeolă confirmate în România. Din 21 septembrie 2016 am declarat epidemie de rujeolă în România. De atunci, epidemia de rujeolă din România nu s-a încheiat. Au urmat mai multe guverne conduse, culmea, de socialiști. Acei socialiști, aceiași socialiști care astăzi refuză să sprijine singurul candidat pro-european din cursa pentru prezidențiale. Iar astăzi, conform Organizației Mondiale a Sănătății, România conduce clasamentul cazurilor de rujeolă raportate în 2024 – peste 30 000. Următoarele state sunt Kazahstan, Federația Rusă, Azerbaidjan și Marea Britanie.

    Dacă Uniunea Europeană, doamnelor și domnilor, face ceva în domeniul sănătății, atunci una dintre priorități trebuie să fie bolile infecțioase. În țara mea, rata de vaccinare împotriva rujeolei cu prima doză este de 78 %, cu a doua este de 62 %. Doar patru țări din UE, din întreaga Uniune Europeană, ating pragul de recomandat de 95 %. Aceste țări merită felicitări și aceste țări sunt: Ungaria, Malta, Portugalia și Slovacia.

    Dar din totalul de cazuri de rujeolă în toată Uniunea Europeană, 87 % provin din România în 2024, 87 %!

    În Uniunea Europeană, doamnelor și domnilor, și în întreaga lume astăzi se duce o bătălie împotriva adevărului și împotriva științei. Am văzut în România, am văzut și în alte state de peste tot de pe glob cum adevărul științific este călcat în picioare de politicieni și de alte forțe din societate. Dacă vrem o Uniune Europeană care protejează cu adevărat cetățenii, atunci, doamnelor și domnilor, asta este bătălia pe care trebuie să o câștigăm. Forțele politice responsabile și societatea civilă onestă trebuie să acționeze ferm împotriva dezinformării criminale cu falsuri medicale, pentru că cele mai multe forțe extremiste de care vorbim astăzi, cele mai multe forțe politice care cresc pe minciună și dezinformare, forțe politice pe care le combatem și aici, și în țările noastre, haideți să fim onești, au crescut pe spinarea celui mai traumatic eveniment planetar din ultimul deceniu. Și acesta a fost, cu siguranță, pandemia.

    Dacă pierdem știința și adevărul ca bază fundamentală a realității, societatea în sine, toate societățile noastre nu vor putea supraviețui.

     
       

     

      Tilly Metz, on behalf of the Verts/ALE Group. – Madam President, dear Commissioner, when we speak about diseases like cancer, heart conditions, neurological disorders or measles, we don’t speak in abstract terms – we are speaking about our neighbours, our parents, our children. Every one of us has a story. Every one of us knows someone affected. That’s why our response must be human, bold and forward-looking.

    Let’s start with the obvious: prevention works, and yet it’s still the most neglected part of our health system. We spend billions on treatment, but far too little on stopping disease before it begins. We need to invest in the conditions that keep people healthy: clean air, clean water, affordable and healthy food, decent housing.

    That is why policies like the European Green Deal and the common agricultural policy play a crucial role. Those are not environmental luxuries; they are essential tools for protecting public health.

    We need also to address one of the elephants in the room: tobacco. It’s still one of the leading causes of preventable deaths in Europe. It’s time to stop dancing around this issue. We urgently need to revise the EU’s tobacco legislation, including tax rules. Recently, 16 Member States called for a revision – higher taxes, plain packaging, a total ban on advertising, including for newer products like heated tobacco or e-cigarettes. Our legislation must catch up with reality.

    Dear colleagues, prevention alone is not enough. We must guarantee affordable and timely access to effective treatment for all, regardless of income or geography. That means making pharmaceutical legislation and innovation conditional on affordability. It means demanding transparency on pricing and research and development costs. Yes, it also means redesigning the way we reward medical innovation so that public investment leads to public benefit.

    Finally, we need to stop only reacting to crises and start planning ahead. So Europe needs a comprehensive strategy on non-communicable diseases – we need to stop thinking in silos – that looks across health systems, environment, agriculture and education and social policy.

    Prevention and treatment must include protection also for women’s health. That is another aspect; a gender-sensitive approach is needed.

    So let’s act with courage, let’s act with care and let’s act now, because lives depend on it.

     
       

     

      Milan Mazurek, za skupinu ESN. – Vážená pani predsedajúca, myslíte, že ľudia zabudli, že vám skutočne ľudia odpustili a že si nepamätajú, čo Leyenovej Európska komisia urobila stovkám miliónov obyvateľov Európskej únie počas doby, ktorú ja nazývam doba korona-teroru? Myslíte, že zabudli, že to bola Európska komisia, ktorá vzala stovkám miliónov obyvateľov ľudské práva a rovnako ako v minulosti nacisti či komunisti rozdelila ľudí na hodných a nehodných, na tých, ktorí si mohli ľudské práva nechať, a tých, ktorým boli vzaté? Bol som jeden z tých, ktorý nemohol navštevovať ani telocvične, verejné podujatia a nemohol vychádzať z domu, pretože vaše projekty covidpasov vzali ľuďom práva a keď sa ľudia nezaočkovali, keď ľudia nepodstupovali nezmyselné testy, tak ste im jednoducho neumožňovali žiť normálny život. Spomeňte si na to, koľkým desiatkam miliónov ľudí ste zruinovali ich podnikanie, koľkým deťom ste vzali budúcnosť, koľko sociálnych samovrážd ľudí, ktorých ste dotlačili na dno, ste spôsobili? Koľko zla, násilia a nenávisti ste v spoločnosti napáchali? A to len preto, aby Európska komisia mohla do svojich rúk získať ďalšie práva, ďalšiu kontrolu nad životmi slobodných ľudí, obmedziť národné štáty a robiť si nechutný miliardový biznis cez esemesky prostredníctvom pani Leyenovej. Gigantický konflikt záujmov, ktorý v tomto pléne stále nebol vyšetrený, na ktorého vyšetrenie čakajú občania vo všetkých členských štátoch. Len vy kryjete zločinnosti tejto Európskej komisie. A potom, keď tu predstúpite a poviete, že vy chcete predchádzať chorobám, že vy chcete chrániť zdravie ľudí a hovoríte, že chcete podporovať napríklad fyzickú kondíciu? Vy, tí istí ľudia, ktorí zakazovali ľuďom športovať, ktorí prikazovali ľudí trestať len preto, že chceli ísť cvičiť, športovať či behať niekde na verejnosť. Kto vám má po tom všetkom ešte veriť? Každý zmýšľajúci občan už vidí, že kedykoľvek, keď Európska komisia začne hovoriť o tom, že by mala získať ďalšiu kontrolu, právomoci a možnosti pre to, aby chránila ľudí, tak je v skutočnosti presný opak pravdou. V skutočnosti chcete kompetencie a možnosti pre to, aby ste mohli opätovne robiť svoje biznisy. Aby opätovne niektorí vyvolení mohli rozkrádať peniaze daňových poplatníkov a chcete ďalšiu kontrolu a moc, aby ste ľuďom mohli vziať ich práva a uvrhnúť ich život do absolútnej totality, pretože to je skutočná podstata a charakter tejto Komisie. Museli by mi skutočne ruky dolámať, aby som hlasoval za ďalšie právomoci a kompetencie či rozpočet pre takúto Európsku komisiu.

     
       

     

      Seán Kelly (PPE).A Uachtaráin, Commissioner, across Europe, millions of citizens are affected by diseases that could be prevented, treated earlier and managed better if we act together.

    That is why I fully support the EU’s stepped-up efforts on health, particularly in tackling cancer, cardiovascular and neurological diseases and preventing avoidable illnesses like measles. Cancer alone claims nearly 1.3 million lives in the EU each year, but through initiatives like Europe’s Beating Cancer Plan, we are finally taking a coordinated approach and investing in research, screening, early detection and better access to treatment across Member States.

    I am proud that Irish researchers, institutions and clinicians are playing a key role in this. Cardiovascular and neurological diseases are among the leading causes of disability and death in Europe. Yet too often, they do not get the attention they deserve.

    We need targeted strategies, strong support for cross-border research, and public-awareness campaigns that reach citizens in every region, including rural communities, like many in my own constituency in Ireland South.

    Let us be clear. The resurgence of measles in parts of Europe is both tragic and preventable. We must not allow misinformation to roll back decades of progress in public health. Vaccination saves lives. Full stop. We must ensure that no matter where you live in Europe, you have access to the care you need.

     
       

     

      Christophe Clergeau (S&D). – Madame la Présidente, Monsieur le Commissaire, la révolution que j’appelle de mes vœux, c’est la révolution de la prévention. Car soigner est indispensable et il faut le faire mieux, mais ce n’est pas une fin en soi. L’objectif, c’est de bien vivre et de bien vieillir, en bonne santé. Cela passe par la prévention, qui est le meilleur des investissements, tandis que la non-action, au contraire, se traduit par des millions de morts et par des milliards d’euros de dépenses inutiles.

    Alors oui, nous avons besoin des grands programmes de santé publique existants – comme celui contre le cancer – ou annoncés par la Commission. Pour nous, la priorité, c’est un grand programme pour la santé mentale et un grand programme pour la santé des femmes.

    Cependant, nous devons avant tout prévenir les maladies en agissant sur les déterminants de la santé. Agir contre la pauvreté, la précarité, le mal-logement, la précarité énergétique et alimentaire, le rationnement des soins. Agir contre le tabac et la malbouffe: ce sont des catastrophes sanitaires qui résultent de décennies de lobbying et de manipulation par les grands intérêts économiques. Il nous faut impérativement réviser la directive sur le tabac pour combattre les fausses alternatives à la cigarette, qui sont des dangers majeurs pour la santé publique. Nous avons aussi besoin d’un programme législatif concernant l’alimentation, pour combattre les pratiques et les produits dangereux, mieux informer les consommateurs et interdire – oui, interdire! – la publicité pour la malbouffe.

    Enfin, nous devons agir contre les effets cumulés de notre environnement sur nos organismes, cette cause émergente de l’explosion des maladies chroniques, des cancers, mais aussi des maladies dégénératives ou des maladies de la douleur. Alors oui, les pollutions, les pesticides, les produits chimiques, les PFAS sont un cocktail terrible qui ruine notre santé. Dans ce domaine, c’est la santé qui doit être la ligne directrice de notre action. Nous sommes à la veille de choix politiques drastiques: prévenir, prévenir et prévenir, c’est le seul choix possible pour le bien-être des Européens.

     
       

     

      Manuela Ripa (PPE). – Frau Präsidentin! Krebs und Herz-Kreislauf-Erkrankungen gehören zu den Gesundheitsgefahren unserer Zeit. Gut ist: Viele dieser Erkrankungen sind vermeidbar. Ein zentraler Hebel dabei ist gesunde Ernährung. Doch gesunde Ernährung darf kein Luxus sein. Wenn wir es ernst meinen mit der Vorsorge, dann müssen wir gesunde Lebensmittel günstiger machen, zum Beispiel durch die Senkung der Mehrwertsteuer auf Obst und Gemüse. Gleichzeitig müssen wir ungesunde, stark verarbeitete Produkte angehen. Denn sie belasten nicht nur unseren Körper, sondern auch unser Gesundheitssystem und damit die Allgemeinheit.

    Besonders schutzbedürftig sind unsere Kinder. Werbung für ungesunde Lebensmittel, die sich gezielt an sie richtet, muss nicht sein. Kinder sollen lernen, was ihrem Körper guttut, nicht, was sich am besten verkauft. Genauso wichtig ist der informierte Verbraucher. Wer gesund einkaufen will, braucht klar verständliche Nährwertkennzeichnungen.

    Doch wir müssen auch über psychische Erkrankungen sprechen und hier über den übermäßigen Konsum sozialer Medien, gerade bei Jugendlichen. Studien zeigen, dass ständiges Scrollen, Reizüberflutung und digitaler Stress das Risiko für Depressionen und Konzentrationsprobleme erhöhen können. Deshalb müssen wir auf europäischer Ebene dringend dafür sorgen, dass unsere Kinder besser geschützt werden. Dazu gehört Aufklärung in der Schule, aber auch Aufklärung der Eltern und eine stärkere Verantwortung der Plattformen. Süchtig machende Algorithmen ebnen den Weg zu einer neuen Volkskrankheit, und das schon in sehr jungen Jahren. Gesundheit ist mehr als die Abwesenheit von Krankheit. Sie beginnt mit Bildung, Schutz und den richtigen politischen Rahmenbedingungen für ein gesundes Europa.

     
       

     

      Laurent Castillo (PPE). – Madame la Présidente, Monsieur le Commissaire, chers collègues, tout le monde parle de prévention, mais trop peu la mettent en œuvre. Pourquoi? Parce que ses effets prennent du temps et trop d’élus préfèrent des résultats immédiats. Pourtant, c’est là que tout commence: mieux vivre, désengorger les hôpitaux, réduire les coûts. 1 euro investi en prévention, c’est jusqu’à 6 euros d’économies. Prévenir, c’est voir loin.

    Si certains États manquent de courage, alors soyons exemplaires à l’échelle européenne. Après le plan cancer, engageons-nous avec la même ambition contre les maladies cardiovasculaires. Lançons un vrai plan européen de lutte contre l’obésité. La santé des Européens n’est pas un slogan, c’est un combat. Et ce combat commence par la prévention.

     
       

       

    Zgłoszenia z sali

     
       

     

      András Tivadar Kulja (PPE). – Madam President, dear Commissioner, dear colleagues, I’m a bit disappointed to see so few of us here in person for this debate, especially as we are talking about diseases that pose an increasing burden on our ageing society across Europe.

    Cancer, cardiovascular diseases and neurological conditions cause the death of more than 3 million Europeans each year. In the case of cardiovascular diseases alone, 1.3 million of these deaths could be avoided with better prevention, early detection and access to modern, affordable healthcare.

    That’s why, along with the European Beating Cancer Plan, we also need strong support and funding for the European Cardiovascular Health Action Plan. To achieve our goals, we must have a truly holistic approach to recognise how physical, mental and brain health are deeply connected.

    We have a great responsibility: people are counting on us to act on healthcare, and we also see that where healthcare is declining, extremism is growing. Strengthening healthcare not only helps people, it also protects democracy.

     
       

     

      Lukas Sieper (NI). – Frau Präsidentin, liebe Menschen Europas, verehrter Herr Kommissar! Ich danke Ihnen und den ganzen Kollegen hier für die wichtige Arbeit. Ich möchte zum Abschluss noch einmal das Licht auf zwei Aspekte werfen, die auch angesprochen wurden: Das eine ist die Aufklärung, und das andere ist auch die psychologische Betreuung, die im Umfeld von Krankheiten relevant werden kann.

    Wir haben da gerade ein leuchtendes Beispiel gesehen bei der Rede des Kollegen Mazurek, der offensichtlich aufgrund mangelnder Aufklärung nicht den Mut hatte, eine wichtige Impfung vorzunehmen, und aufgrund dessen dann gezwungen war, über eine lange Zeit zu Hause zu bleiben, dem sozialen Leben entrissen war und bis heute sichtbar schwere Nachwirkungen davonträgt. Ich denke, wir müssen alle zusammenarbeiten, um den Menschen in Europa die Gesundheit zu geben, die sie verdienen, weil Gesundheit etwas ist, was uns alle angeht.

     
       

     

      Diana Iovanovici Şoşoacă (NI). – Doamnă președintă, da, îi acuzi pe alții că sunt bolnavi mintal dar tu nu te duci să te cauți.

    Este impardonabil că permiteți aici jignirea unui coleg, în condițiile în care numai dacă ești medic și numai dacă s-a consultat la tine ai posibilitatea să îți expui un punct de vedere. Din punctul meu de vedere, ca avocat, eu l-aș baga direct în închisoare pe domnul care a vorbit înainte de Mazurek. Este impardonabil ceea ce acceptați, aceste jigniri.

    Doi la mână, vorbiți de prevenție. Nu veți face niciodată prevenție, pentru că dumneavoastră aveți relații cu Big Pharma. Și acestea au reieșit foarte clar în cazul vaccinării anti-Covid, un vaccin experimental. Dacă vă interesa, în conformitate cu articolul 5 din Convenția de la Oviedo, toate vaccinurile erau experimentale. Eu însămi am luat informațiile de pe site-ul Pfizer și Modena și toate celelalte producătoare.

    Vreau să vă spun că, pe cât acuzați dumneavoastră Cuba de dictatură, Cuba a reușit să eradicheze rujeola, în timp ce în Europa este explozie de rujeolă. Foarte interesant. Da, dați cu bastonașul, că pe noi ne interziceți, iar pe ai dumneavoastră îi lăsați. E rușinos ce faceți cu afacerile cu vaccinuri.

     
       

       

    (Koniec zgłoszeń z sali)

     
       

     

      Costas Kadis, Member of the Commission. – Madam President, honourable Members, thank you. I will be very brief.

    First, let me thank you for your insight. It is obvious also from this discussion that diseases, both infectious and non-infectious, are a key public health challenge. During this mandate, the Commission will step up work on promoting health and preventing diseases. We will also ensure that innovation does not stay in the laboratory but can reach and help patients.

    To this end. As I mentioned in my introductory remarks, the Commission intends to propose a European Biotech Act. Together, we can work towards better policies, programs and initiatives that support patients.

    In turn, that will also reduce the social and economic costs of these diseases. And I’m sure our conversations on this important topics will continue.

     
       


     

      Przewodnicząca. – Zamykam debatę.

     

    11. Explanations of vote

     

      Przewodnicząca. – Kolejnym punktem porządku dziennego są wyjaśnienia dotyczące stanowiska zajętego w głosowaniu.

     

    11.1. Ninth report on economic and social cohesion (A10-0066/2025 – Jacek Protas)


     

      Seán Kelly (PPE). – Bhí áthas orm vótáil ar son an naoú tuarascáil ar chomhtháthú.

    This report reaffirms the vital role of EU cohesion policy in promoting balanced development, reducing regional disparities and building long term socioeconomic resilience across the Union.

    The report rightly highlights the policy’s positive impact on growth, productivity and employment, while stressing the importance of its core principles, such as the bottom-up approach and partnership model that underpin effective and inclusive governance.

    Importantly, it calls for greater flexibility to help cohesion policy respond to crises like pandemics, wars and climate change. It also addresses the ongoing challenges facing regions in transition, especially those affected by industrial decline or near the EU’s external borders.

    Simplifying administrative procedures is also key to improving access and reducing barriers.

    Tríd is tríd, is tuarascáil mhaith chiallmhar í seo agus bhíos sásta tacaíocht a thabhairt di.

     
       

     

      Lukas Sieper (NI). – Madam President, dear people of Europe, cohesion is not charity. It is a political promise that no region, no person is left behind.

    This report reminds us that the gaps between European regions are still real in innovation, in jobs, in future prospects, and that’s not acceptable. We need a cohesion policy that matches the challenges of our time, green transition, digital transition and demographic change.

    That means simpler access to EU funds, stronger roles for local and regional actors, and long-term thinking, not just emergency response.

    Because when we invest in cohesion, we don’t just invest in roads or statistics. We invest in dignity, in democracy and in equal chances all across Europe.

     

    11.2. The role of gas storage for securing gas supplies ahead of the winter season (A10-0079/2025 – Borys Budka)


     

      Seán Kelly (PPE). – A Uachtaráin, Arís bhí áthas orm vótáil ar son na tuarascála seo …

    Because it extends and revises the EU Gas Storage Regulation as it balances energy security with changing market conditions.

    Measures introduced during the 2022 gas crisis, especially mandatory storage targets, proved effective in stabilising supply and protecting citizens from price shocks. Extending them beyond 2025 is a smart step to prepare for future risks.

    I support the added flexibility, including the adjusted 83 % target and limited scope for Member State deviations in difficult conditions. These updates respect national contexts while maintaining a strong collective baseline.

    The proposal also advances EU goals by phasing out Russian fossil fuels and supporting a return to market-based mechanisms. By cutting red tape and reinforcing subsidiarity, it empowers Member States while ensuring effective oversight.

    Bhí bród orm vótáil ar son na tuarascála praiticiúla seo a thugann tacaíocht don Trasdul Glas.

     
       

     

      Lukas Sieper (NI). – Señora presidenta, queridos pueblos de Europa, el invierno en Europa puede ser duro: las familias necesitan calor, las empresas necesitan energía segura. Necesitamos reglas claras sobre el gas almacenado porque la energía es parte de la seguridad social y económica.

    Sí, el futuro es energía limpia y renovable, pero hoy necesitamos soluciones prácticas para proteger a las personas cuando hace frío y para evitar crisis. Más reglas no es más burocracia, es más seguridad para todos. Mientras cambiamos el sistema energético, necesitamos estabilidad.

     

    11.3. Competition policy – annual report 2024 (A10-0071/2025 – Lara Wolters)


     

      Seán Kelly (PPE). – A Uachtaráin, tacaím leis an rún seo toisc go gcuireann sé cur chuige straitéiseach agus cothrom chun cinn chun iomaíochas an Aontais a neartú i dtimpeallacht dhomhanda atá ag athrú go tapaidh. Cuireann sé béim ar chomh tábhachtach atá an iomaíocht chóir, ní hamháin chun an nuálaíocht a spreagadh ach chun tomhaltóirí a chosaint, ach chun athléimneacht eacnamaíochta fhadtéarmach a fhorbairt ar fud an Aontais freisin. Thar aon ní eile, ceanglaíonn sé tosaíochtaí comhshaoil agus digiteacha leis an gcreat iomaíochta. Trínár straitéis eacnamaíoch a ailíniú leis an gComhaontú Glas don Eoraip agus le Compás Digiteach 2030, cabhraímid leis an Eoraip a bheith ina ceannaire domhanda san aon bhunaíocht agus sa teicneolaíocht. Má thacaímid leis an rún seo, beimid ag seasamh an fhóid ar son fás inbhuanaithe, margaí cothroma, agus iomaíochas domhanda an Aontais.

     

    11.4. Old challenges and new commercial practices in the internal market (B10-0246/2025)


     

      Lukas Sieper (NI). – Signora Presidente, onorevoli colleghi, cari popoli d’Europa, il mercato unico è una delle cose migliori dell’Unione europea, ma il mercato deve essere giusto per tutti. Oggi ci sono nuove sfide: le piattaforme digitali, le pratiche sleali, le regole poco chiare.

    Questa risoluzione è importante. Serve per aiutare le piccole imprese, per proteggere i consumatori e per avere un mercato ben funzionante. Un mercato moderno deve essere anche trasparente e aperto a tutti, non solo ai grandi.

     

    12. Approval of the minutes of the sitting and forwarding of texts adopted

     

      Przewodnicząca. – Protokół dzisiejszego posiedzenia zostanie przedłożony Parlamentowi do zatwierdzenia na początku następnego posiedzenia.

    Jeśli nie wpłynie żaden sprzeciw, przekażę rezolucje przyjęte na dzisiejszym posiedzeniu osobom i organom w nich wymienionym.

     

    13. Dates of the next part-session

     

      Przewodnicząca. – Kolejna sesja miesięczna odbędzie się 21 i 22 maja 2025 roku w Brukseli.

     

    14. Closure of the sitting

       

    (Posiedzenie zostało zamknięte o godz. 15.50)

     

    15. Adjournment of the session

     

      Przewodnicząca. – Zamykam posiedzenie.

    Ogłaszam przerwę w obradach Parlamentu Europejskiego.

    Dziękuję bardzo. Do zobaczenia na następnym posiedzeniu.

     

    MIL OSI Europe News

  • MIL-OSI: Alaris Equity Partners Income Trust Releases 2025 First Quarter Financial Results

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION IN THE UNITED STATES.

    FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.

    CALGARY, Alberta, May 08, 2025 (GLOBE NEWSWIRE) — Alaris Equity Partners Income Trust (TSX-AD.UN) (together, as applicable, with its subsidiaries, “Alaris” or the “Trust“) is pleased to announce its results for the three months ended March 31, 2025. The results are prepared in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board. All amounts below are in Canadian dollars unless otherwise noted.

    Highlights:

    • For the period ended March 31, 2025, Alaris generated $0.12 per unit of additional Net book value (1), improving this metric to $24.34. Driving this increase is current quarter earnings of $0.50 per unit, offset by $0.34 of distributions to unitholders;
    • During the quarter, the Trust, through its normal course issuer bid (“NCIB”), purchased and cancelled 218,900 units, which reflects a $0.02 per unit of additional Net book value (1);
    • The Trust, together with its Acquisition Entities, earned $43.0 million of Partner distribution revenue in Q1 2025, an increase of $3.7 million or 9% for the three-month period as compared to Q1 2024. The period over period increase is primarily the result of new and follow-on investments made subsequent to Q1 2024, higher common distributions received and for preferred distributions that were subject to a reset, an increase of distributions of approximately 4% based on unaudited result from each of its Partners;
    • Alaris’ net distributable cash flow (2) for the three months ended March 31, 2025, of $30.4 million increased by 19% as compared to the three months ended March 31, 2024.
      • The Actual Payout Ratio (3) for the Trust, based on the Alaris net distributable cash (2) flow for the three months ended March 31, 2025 was 59%, which is inclusive of the cash disbursements related to the quarters NCIB purchases;
    • Following March 31, 2025, Federal Management Partners, LLC (“FMP”) experienced suspension of certain key contracts, primarily driven by changes in U.S. federal procurement policies, resulting in a material reduction in revenue. These developments are expected to have a significant adverse impact on FMP’s financial performance and outlook in the near term. Given the evolving circumstances and associated uncertainty, Alaris anticipates that FMP’s ability to sustain distribution payments for the remainder of the year will be negatively affected. Furthermore, these factors are expected to lead to a material downward reassessment of the fair value of FMP. FMP management is actively evaluating mitigation strategies and Alaris is continuing to assess the potential impact to FMP’s long-term outlook;
    • The weighted average combined Earnings Coverage Ratio (4) for Alaris’ Partners is approximately 1.5x with ten of twenty Partners greater than 1.5x. In addition, twelve of our partners have either no debt or less than 1.0x Senior Debt to EBITDA on a trailing twelve-month basis;
    • Subsequent to quarter end, Alaris completed an amendment to its senior credit facility, which included converting the credit facility from CDN$500 million to US$450 million, in addition to converting the accordion feature from CDN$50 million to US$50 million. As of the date of this release, total drawn of the facility is approximately US$289 million and US$161 million remaining available.

    “Our first quarter saw solid performance from the portfolio despite a very uncertain environment. The combination of predominantly required service, low leverage businesses continues to shield us from extreme volatility. The US government cuts have ultimately hit one of our partners, FMP, in a negative way. Despite it appearing that the company had dodged anything significant through the end of April, a surprise cut to some of their large contracts has resulted in a substantial loss of revenue and a need to pivot. This is still a profitable company with no net debt and an extremely talented, aligned management team. FMP is already focusing on targeting new opportunities to replace lost contracts but this will take time to execute on. We are confident in this management team’s ability to build the revenue stream back up. We’re very fortunate that as a portfolio, the impact of the government cuts and tariffs has been quite small in the context of our total portfolio. On a positive note, the current environment is presenting our company with a large number of opportunities to invest in very good, long-term assets. We expect an active second half of deployment.” said Steve King President and CEO.

    Results of Operations

    Three months ended March 31,   2025     2024     % Change  
    Change in Net book value per unit $ 0.12   $ 0.54     -77.8 %
    Alaris net distributable cash flow per unit $ 0.67   $ 0.56     +19.6 %
    Earnings from operations per unit $ 0.62   $ 0.52     +19.2 %
    Earnings and comprehensive income per unit $ 0.50   $ 1.62     -69.1 %
    Weighted average basic units (000’s)   45,534     45,498    
                   

    Net book value (1) per unit at March 31, 2025 increased by $0.12 during the quarter to $24.34 per unit, which is a 77.8% decrease from Q1 2024 change in Net book value (1) of $0.54 per unit . The $0.12 per unit increase in Net book value (1) is primarily driven by $0.50 earnings per unit recorded by the Trust during Q1 2025, less the quarterly dividend of $0.34 per unit. In Q1 2024, $0.46 of the $0.54 per unit change in Net book value (1) was related to a foreign exchange gain of $20.1 million as compared to a foreign exchange loss of $4.9 million in the current quarter. These foreign exchange gains and losses are primarily related to the revaluation of U.S dollar denominated assets due to changes in foreign exchange rates from period to period.

    Alaris net distributable cash flow (2) per unit increased by 19.6%, primarily due to higher preferred and common Partner distributions received in Q1 2025 in addition to higher cash taxes recovered by the Acquisition Entities during the quarter. Partner distributions increased quarter over quarter, reflecting higher common Distributions received in Q1 2025 and higher preferred distributions, primarily due to Alaris’ new investment in Cresa, LLC (“Cresa”) and follow-on investment in The Shipyard, LLC (”Shipyard”) that were made partway through the prior year. New investments in The Berg Demo Holdings, LLC (“Berg”) and Professional Electric Contractors of Connecticut, Inc. (“PEC”) completed in Q1 2025, also contributed to the increase. These were partially offset by lower distributions following the redemption of Brown & Settle Investments, LLC and a subsidiary thereof (collectively, “Brown & Settle”) and as part of Ohana Growth Partners, LLC (“Ohana”) asset under management transaction in Q4 2024, which had lower yields on the new convertible preferred units received.

    Earnings and comprehensive income decreased by 69.1% per unit due to a non-recurring gain of $30.3 million recognized in Q1 2024 on the derecognition of previously consolidated entities, as well as a foreign exchange loss of $4.9 million recognized during Q1 2025 as compared to a foreign exchange gain of $20.8 million in Q1 2024. Partially offsetting period over period decrease to earnings and comprehensive income is a 19.2% increase to earnings from operations in Q1 2025 as compared to Q1 2024, which is primarily due to higher revenue and operating income driven by higher Distributions from Partners and increases to the fair value of Partner investments. The Trust recorded a net increase of $10.1 million to the fair value of its investment in Partners during Q1 2025, largely driven by gains to the fair value of Alaris’ investment in Shipyard and Ohana, and partially offset by a fair value decrease in Sono Bello, LLC (“Sono Bello“).

    Outlook

    In Q1 2025, the Trust together with its Acquisition Entities earned $43.7 million of revenue from Partners, which included $43.0 million of Partner Distributions and $0.7 million of third party transaction and management fee revenue, collectively which was ahead of previous guidance of $42.5 million due to higher than expected common Distributions received, as well as a higher realized foreign exchange rate on US denominated distributions. Alaris expects total revenue from its Partners in Q2 2025 of approximately $41.4 million.

    During the three months ended March 31, 2025, the Trust, through its Acquisition Entities invested in two new Partners, Berg and PEC, for a total investment of approximately $118 million. Subsequent to March 31, 2025, FMP was impacted by the loss of certain key contracts which Alaris anticipates will require FMP to defer distributions. These investments and the deferral of FMP’s distributions are reflected in Alaris’ Run Rate Revenue (5) for the next twelve months, of approximately $178 million, which includes an estimated $19.1 million of common dividends.

    The Run Rate Cash Flow (6) table below outlines the Trust and it’s Acquisition Entities’ combined expectation for Partners Distribution revenue, transaction fee revenue, general and administrative expenses, third party interest expense, tax expense and distributions to unitholders for the next twelve months. The Run Rate Cash Flow (6) is a forward looking supplementary financial measure and outlines the net cash from operating activities, less the distributions paid, that Alaris is expecting to generate over the next twelve months. The Trust’s method of calculating this measure may differ from the methods used by other issuers. Therefore, it may not be comparable to similar measures presented by other issuers.

    Run rate general and administrative expenses are currently estimated at $18.5 million and include all public company costs incurred by the Trust and its Acquisition Entities. The Trust’s Run Rate Payout Ratio (7) is expected to be within a range of 60% and 65% when including Run Rate Revenue (5), overhead expenses and our existing capital structure. The table below sets out our estimated Run Rate Cash Flow (6) as well as the after-tax impact of positive net investment, the impact of every 1% increase in Secure Overnight Financing Rate (“SOFR”) based on current outstanding USD debt and the impact of every $0.01 change in the USD to CAD exchange rate.

    Run Rate Cash Flow ($ thousands except per unit) Amount ($)   $ / Unit  
    Run Rate Revenue, Partner Distribution revenue $ 178,000   $ 3.91  
    General and administrative expenses   (18,500 )   (0.41 )
    Third party Interest and taxes   (60,600 )   (1.33 )
    Net cash from operating activities $ 98,900   $ 2.17  
    Distributions paid   (61,900 )   (1.36 )
    Run Rate Cash Flow $ 37,000   $ 0.81  
         
    Other considerations (after taxes and interest):    
    New investments Every $50 million deployed @ 14%   +2,550     +0.06  
    Interest rates Every 1.0% increase in SOFR   -3,200     -0.07  
    USD to CAD Every $0.01 change of USD to CAD +/- 900   +/- 0.02  
     

    Alaris’ financial statements and MD&A are available on SEDAR+ at www.sedarplus.ca and on our website at www.alarisequitypartners.com.

    Earnings Release Date and Conference Call Details

    Alaris management will host a conference call at 9am MT (11am ET), Friday, May 9, 2025 to discuss the financial results and outlook for the Trust.

    Participants must register for the call using this link: Q1 2025 Conference Call. Pre-register to receive the dial-in numbers and unique PIN to access the call seamlessly. 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). Participants can access the webcast here: Q1 Webcast. A replay of the webcast will be available two hours after the call and archived on the same web page for six months. Participants can also find the link on our website, stored under the “Investors” section – “Presentations and Events”, at www.alarisequitypartners.com.

    An updated corporate presentation will be posted to the Trust’s website within 24 hours at www.alarisequitypartners.com.

    About the Trust:

    Alaris’ investment and investing activity refers to providing, through the Acquisition Entities, structured equity to private companies (“Partners”) to meet their business and capital objectives, which includes management buyouts, dividend recapitalization, growth and acquisitions. Alaris achieves this by investing its unitholder capital, as well as debt, through the Acquisition Entities, in exchange for distributions, dividends or interest (collectively, “Distributions”) as well as capital appreciation on both preferred and common equity. The principal objective is to generate predictable cash flows for distribution payments to its unitholders while growing net book value through returns from capital appreciation. Distributions, other than common equity Distributions, from the Partners are adjusted annually based on the percentage change of a “top-line” financial performance measure such as gross margin or same store sales and rank in priority to common equity position.

    Non-GAAP and Other Financial Measures

    The terms Net book value, Alaris net distributable cashflow, Earnings Coverage Ratio, Run Rate Payout Ratio, Actual Payout Ratio, Run Rate Revenue, Run Rate Cash Flow, and Per Unit amounts (collectively, the “Non-GAAP and Other Financial Measures”) are financial measures used in this MD&A that are not standard measures under International Financial Reporting Standards (“IFRS”) . The Trust’s method of calculating the Non-GAAP and Other Financial Measures may differ from the methods used by other issuers. Therefore, the Trust’s Non-GAAP and Other Financial Measures may not be comparable to similar measures presented by other issuers.

    (1) “Net book value” and “net book value per unit” are Non-GAAP financial measures and represents the equity value of the company or total assets less total liabilities and the same amount divided by weighted average basic units outstanding. Net book value and net book value per unit are used by management to determine the growth in assets over the period net of amounts paid out to unitholders as distributions. Management believes net book value and net book value per unit are useful supplemental measures from which to compare the Trust’s growth period over period. The Trust’s method of calculating these Non-GAAP financial measures may differ from the methods used by other issuers. Therefore, they may not be comparable to similar measures presented by other issuers.

      31-Mar   31-Dec   31-Mar
    $ thousands except per unit amounts   2025       2024       2024  
    Total Assets $ 1,201,210     $ 1,199,683     $ 1,073,401  
    Total Liabilities $ 92,749     $ 97,721     $ 87,985  
    Net book value $ 1,108,461     $ 1,101,962     $ 985,416  
    Weighted average basic units (000’s)   45,534       45,503       45,498  
    Net book value per unit $ 24.34     $ 24.22     $ 21.66  
                           

    (2) “Alaris net distributable cashflow is a non-GAAP measure that refers to all sources of external revenue in both the Trust and the Acquisition Entities less all general and administrative expenses, third party interest expense and cash tax paid (received). Alaris net distributable cashflow is a useful metric for management and investors as it provides a summary of the total cash from operating activities that can be used to pay the Trust distribution, repay senior debt and/or be used for additional investment purposes. The Trust’s method of calculating this Non-GAAP measure may differ from the methods used by other issuers. Therefore, it may not be comparable to similar measures presented by other issuers.

      Three months ended March 31
    $ thousands except per unit amounts   2025     2024   % Change
    Partner Distribution revenue – Preferred $ 40,579   $ 38,193    
    Partner Distribution revenue – Common $ 2,393   $ 601    
    Third party management and advisory fees $ 706   $ 510    
           
    Expenditures of the Trust:      
    General and administrative $ (4,185 ) $ (4,110 )  
    Third party cash interest paid by the Trust $ (2,028 ) $ (2,032 )  
    Cash taxes (paid) / received by the Trust $ (7 ) $    
           
    Expenditures incurred by Acquisition Entities:      
    Operating costs and other $ (866 ) $ (903 )  
    Transactions costs $ (1,869 ) $ (1,362 )  
    Cash interest paid, senior credit facility and convertible debentures $ (6,290 ) $ (5,428 )  
    Cash taxes received by the Acquisition Entities $ 1,988   $ 63    
    Alaris net distributable cash flow $ 30,421   $ 25,532     +19.1 %
    Alaris net distributable cash flow per unit $ 0.67   $ 0.56     +19.6 %
                       

    (3) “Actual Payout Ratio” is a supplementary financial measure and refers to Alaris’ total distributions paid during the period (annually or quarterly) divided by Alaris net distributable cashflow generated for the period. It represents the net cash from operating activities after distributions paid to unitholders available for either repayments of senior debt and/or to be used in investing activities.

    (4) “Earnings Coverage Ratio (“ECR”)” is a supplementary financial measure and refers to the EBITDA of a Partner divided by such Partner’s sum of debt servicing (interest and principal), unfunded capital expenditures and distributions to Alaris. Management believes the earnings coverage ratio is a useful metric in assessing our partners continued ability to make their contracted distributions.

    (5) “Run Rate Revenue” is a supplementary financial measure and refers to Alaris’ total revenue expected to be generated over the next twelve months based on contracted distributions from current Partners, excluding any potential Partner redemptions, it also includes an estimate for common dividends or distributions based on past practices, where applicable. Run Rate Revenue is a useful metric as it provides an expectation for the amount of revenue Alaris can expect to generate in the next twelve months based on information known.

    (6) “Run Rate Cash Flow” is a Non-GAAP financial measure and outlines the net cash from operating activities, net of distributions paid, that Alaris is expecting to have after the next twelve months. This measure is comparable to net cash from operating activities less distributions paid, as outlined in Alaris’ consolidated statements of cash flows.

    (7) “Run Rate Payout Ratio” is a Non-GAAP financial ratio that refers to Alaris’ distributions per unit expected to be paid over the next twelve months divided by the net cash from operating activities per unit calculated in the Run Rate Cash Flow table. Run Rate Payout Ratio is a useful metric for Alaris to track and to outline as it provides a summary of the percentage of the net cash from operating activities that can be used to either repay senior debt during the next twelve months and/or be used for additional investment purposes. Run Rate Payout Ratio is comparable to Actual Payout Ratio as defined above.

    (8) “Per Unit” values, other than earnings per unit, refer to the related financial statement caption as defined under IFRS or related term as defined herein, divided by the weighted average basic units outstanding for the period.

    The terms Net Book Value, Components of Corporate investments, EBITDA, Adjusted EBITDA, Alaris net distributable cashflow, Earnings Coverage Ratio, Run Rate Payout Ratio, Actual Payout Ratio, Run Rate Revenue, Run Rate Cash Flow, and Per Unit amounts should only be used in conjunction with the Trust’s unaudited interim condensed consolidated financial statements, complete versions of which available on SEDAR+ at www.sedarplus.ca.

    Forward-Looking Statements

    This news release contains forward-looking information and forward-looking statements (collectively, “forward-looking statements”) under applicable securities laws, including any applicable “safe harbor” provisions. Statements other than statements of historical fact contained in this news release are forward-looking statements, including, without limitation, management’s expectations, intentions and beliefs concerning the growth, results of operations, performance of the Trust and the Partners, the future financial position or results of the Trust, business strategy and plans and objectives of or involving the Trust or the Partners. Many of these statements can be identified by looking for words such as “believe”, “expects”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “continues” or similar words or the negative thereof. In particular, this news release contains forward-looking statements regarding: the anticipated financial and operating performance of the Partners; the attractiveness of Alaris’ capital offering; the Trust’s Run Rate Payout Ratio, Run Rate Cash Flow, Run Rate Revenue and total revenue; the impact of recent new investments and follow-on investments; expectations regarding receipt (and amount of) any common equity Distributions or dividends from Partners in which Alaris holds common equity, including the impact on the Trust’s net cash from operating activities, Run Rate Revenue, Run Rate Cash Flow and Run Rate Payout Ratio; the impact of future deployment; the Trust’s ability to deploy capital; expected gains on common equity and future exits; payout of Alaris’ AUM strategy including, without limitation, the impact of management fees and profit participation; the yield on the Trust’s investments and expected resets on Distributions; changes in interest rates, including SOFR and exchange rates; the impact of deferred Distributions and the timing of repayment there of; the Trust’s return on its investments; and Alaris’ expenses for the next twelve months. To the extent any forward-looking statements herein constitute a financial outlook or future oriented financial information (collectively, “FOFI”), including estimates regarding revenues, Distributions from Partners (restarting full or partial Distributions and common equity distributions), Run Rate Payout Ratio, Run Rate Cash Flow, net cash from operating activities, expenses and impact of capital deployment, they were approved by management as of the date hereof and have been included to provide an understanding with respect to Alaris’ financial performance and are subject to the same risks and assumptions disclosed herein. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur.

    By their nature, forward-looking statements require Alaris to make assumptions and are subject to inherent risks and uncertainties. Assumptions about the performance of the Canadian and U.S. economies over the next 24 months and how that will affect Alaris’ business and that of its Partners (including, without limitation, the impact of any global health crisis, like COVID-19, and global economic and political factors) are material factors considered by Alaris management when setting the outlook for Alaris. Key assumptions include, but are not limited to, assumptions that: the Russia/Ukraine conflict, conflicts in the Middle East, and other global economic pressures over the next twelve months will not materially impact Alaris, its Partners or the global economy; interest rates will not rise in a matter materially different from the prevailing market expectation over the next 12 months; global heath crises, like COVID-19 or variants thereof, will not impact the economy or our Partners operations in a material way in the next 12 months; the businesses of the majority of our Partners will continue to grow; more private companies will require access to alternative sources of capital; the businesses of new Partners and those of existing Partners will perform in line with Alaris’ expectations and diligence; and that Alaris will have the ability to raise required equity and/or debt financing on acceptable terms. Management of Alaris has also assumed that the Canadian and U.S. dollar trading pair will remain in a range of approximately plus or minus 15% of the current rate over the next 6 months. In determining expectations for economic growth, management of Alaris primarily considers historical economic data provided by the Canadian and U.S. governments and their agencies as well as prevailing economic conditions at the time of such determinations.

    There can be no assurance that the assumptions, plans, intentions or expectations upon which these forward-looking statements are based will occur. Forward-looking statements are subject to risks, uncertainties and assumptions and should not be read as guarantees or assurances of future performance. The actual results of the Trust and the Partners could materially differ from those anticipated in the forward-looking statements contained herein as a result of certain risk factors, including, but not limited to, the following: impact of widespread health crises is, like COVID-19 (or its variants), other global economic factors (including, without limitation, the Russia/Ukraine conflict, conflicts in the Middle East, inflationary measures and global supply chain disruptions on the global economy, tariffs and internal trade disputes on the Trust and the Partners (including how many Partners will experience a slowdown of their business and the length of time of such slowdown)); the dependence of Alaris on the Partners, including any new investment structures; leverage and restrictive covenants under credit facilities; reliance on key personnel; failure to complete or realize the anticipated benefit of Alaris’ financing arrangements with the Partners; a failure to obtain required regulatory approvals on a timely basis or at all; changes in legislation and regulations and the interpretations thereof; risks relating to the Partners and their businesses, including, without limitation, a material change in the operations of a Partner or the industries they operate in; inability to close additional Partner contributions or collect proceeds from any redemptions in a timely fashion on anticipated terms, or at all; a failure to settle outstanding litigation on expected terms, or at all; a change in the ability of the Partners to continue to pay Alaris at expected Distribution levels or restart distributions (in full or in part); a failure to collect material deferred Distributions; a change in the unaudited information provided to the Trust; a negative impact on the Trust or Partners with risk to cybersecurity and or implementation of artificial intelligence; and a failure to realize the benefits of any concessions or relief measures provided by Alaris to any Partner or to successfully execute an exit strategy for a Partner where desired. Additional risks that may cause actual results to vary from those indicated are discussed under the heading “Risk Factors” and “Forward Looking Statements” in Alaris’ Management Discussion and Analysis and Annual Information Form for the year ended December 31, 2024, which is or will be (in the case of the AIF) filed under Alaris’ profile at www.sedarplus.ca and on its website at www.alarisequitypartners.com.

    Readers are cautioned that the assumptions used in the preparation of forward-looking statements, including FOFI, although considered reasonable at the time of preparation, based on information in Alaris’ possession as of the date hereof, may prove to be imprecise. In addition, there are a number of factors that could cause Alaris’ actual results, performance or achievement to differ materially from those expressed in, or implied by, forward looking statements and FOFI, or if any of them do so occur, what benefits the Trust will derive therefrom. As such, undue reliance should not be placed on any forward-looking statements, including FOFI.

    The Trust has included the forward-looking statements and FOFI in order to provide readers with a more complete perspective on Alaris’ future operations and such information may not be appropriate for other purposes. The forward-looking statements, including FOFI, contained herein are expressly qualified in their entirety by this cautionary statement. Alaris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    For more information please contact:
    Investor Relations
    Alaris Equity Partners Income Trust
    403-260-1457
    ir@alarisequity.com

    The MIL Network

  • MIL-OSI USA: Sending off the Class of 2025

    Source: US State of Connecticut

    The Class of 2025 is just days away from walking across the commencement stage to receive their Doctor of Dental Medicine degrees.

    This week, the students gathered with their fellow classmates and faculty to celebrate their many accomplishments for one last time before UConn Health’s 54th Commencement on May 12.

    The annual senior awards celebration—this year taking place at the New Britain Museum of American Art—includes the presentation of student and faculty awards.

    Faculty and students in the Class of 2025 gather for the annual School of Dental Medicine senior awards ceremony.

    “On behalf of the entire School of Dental Medicine community, I congratulate each of our soon-to-be new graduates for completing arguably the most challenging and rigorous dental programs anywhere,” said Dr. Steven Lepowsky, dean of the School of Dental Medicine. “In doing so, we are confident that you are well prepared to enter the profession as exceptionally well trained and competent beginning practitioners. You are well poised to face the challenges of the next phase of your professional careers.”

    The dean continued, “Your professional journey does not end with graduation. The majority of you will be entering residency programs in a few weeks, while others will be entering practice, but regardless of that next step, I want to encourage you to continue to learn and grow with the same enthusiasm and spirit that you have demonstrated with us over the past four years.”

    Students in the Class of 2025 gather for the annual School of Dental Medicine senior awards ceremony.

    “It was an honor to attend the student awards reception,” said David Cruzate, the class representative. “The night of camaraderie with our friends, colleagues, and faculty felt like such a culmination and celebration of our time here at UConn. I am forever grateful to be a part of our community!”

    After commencement, Cruzate will be heading to Togus Veterans Affairs Medical Center in Augusta, Maine for his Advanced Education in General Dentistry residency.

    Cynara McPhail, president of the School of Dental Medicine Alumni Association Board and 1984 graduate of the School of Dental Medicine, made remarks to the students as well.

    Earlier in the week, the School of Dental Medicine hosted an induction ceremony for the Phi Chi Chapter of the prestigious Omicron Kappa Upsilon (OKU) National Dental Honor society.

    Samira Abdelrehim, Dedrian Barrett, Emma Bergstrom, Sierra Furey, Dani Gosselin, and Michael Truhlar were inducted for their outstanding achievements in scholarship, professionalism, and ethics.

    “Induction into OKU is based on scholarship and character, and is a great honor in dental medicine,” said Dr. Donna Paolella, associate dean for admissions and president of the Phi Chi chapter. “The faculty and students inducted this year are very impressive, and this is a well-deserved honor.”

    Phi Chi Chapter of the OKU National Dental Honor Society student and faculty inductees.

    Dr. Eric Bernstein, associate dean for academic affairs, and Dr. Takanori Sobue, associate professor in the Department of Periodontology, were inducted as faculty.

    During the student awards recognition ceremony, Dr. Ellen Eisenberg was announced as this year’s Kaiser Permanente award winner for excellence in teaching and Dr. Hang Le received the South Park Inn Award for outstanding service to the community.

    The full list of the student awards is below:

    ENDODONTICS

    American Association of Endodontists Student Achievement Award
    Olivia Dort

    GENERAL DENTISTRY

    Academy of General Dentistry Future Leader in General Dentistry Award
    Mark DiRusso

    Academy of Operative Dentistry Award
    Cristal Bruce

    American Academy of Esthetic Dentistry Student Award of Merit
    Emma Bergstrom

    The Quintessence Award for Clinical Achievement in Restorative Dentistry
    Gosia Fryc

    ORAL MEDICINE

    American Academy of Oral Medicine Award
    Danielle Gosselin

    American Academy of Orofacial Pain Award
    Lucy Schlink

    ORAL AND MAXILLOFACIAL PATHOLOGY

    American Academy of Oral and Maxillofacial Pathology Dental Student Award
    Samira Abdelrehim

    ORAL AND MAXILLOFACIAL RADIOLOGY

    Allan B. Reiskin Award
    Kipa Shakya

    American Academy of Oral and Maxillofacial Radiology Award
    Gosia Fryc

    ORAL AND MAXILLOFACIAL SURGERY

    American Academy of Implant Dentistry Student Award
    Dedrian Barrett

    American Association of Oral and Maxillofacial Surgeons Dental Student Award  
    Spencer Infranco

    American Association of Oral and Maxillofacial Surgeons Dental Implant Award
    Mark DiRusso

    American College of Oral and Maxillofacial Surgeons Award (William H. Bell Award)
    Isiah Sumler

    Academy of Osseointegration Outstanding Dental Student in Implant Dentistry
    Tyler Deitelbaum

    Connecticut Society of Oral and Maxillofacial Surgeons Award
    John Todd

    Dr. Richard G. Topazian Prize
    Juan Mitchell

    Horace Wells Senior Student Award from the American Dental Society of Anesthesiology
    Pablo Piedra

    International Congress of Oral Implantologists/Dentsply Student Achievement Award
    Brian Legato

    ORTHODONTICS

    American Association of Orthodontists Award
    Thomas Nelson

    Dr. Surender Nanda Memorial Award
    Peter Schwalm

    PEDIATRIC DENTISTRY

    American Academy of Pediatric Dentistry Certificate of Merit
    Samantha DePalma

    Special Care Dentistry Association/Academy of Dentistry for Persons with Disabilities Award
    Sierra Furey

    PERIODONTOLOGY

    American Academy of Periodontology Award
    Dedrian Barrett

    Northeastern Society of Periodontists Award
    Pritisha Amatya

    The Quintessence Award for Clinical Achievement in Periodontics
    Timothy Tsai

    PROSTHODONTICS

    American College of Prosthodontists Achievement Award
    Michael Truhlar

    American Prosthodontic Society Award
    Sarah Nevolis

    HanauTM Best of the Best Prosthodontic Award
    Gosia Fryc

    Kohrman Award
    Dedrian Barrett

    SENIOR AWARDS COMMITTEE AWARDS

    American Association of Public Health Dentistry
    Samantha DePalma

    Dr. Robert G. Levine Award
    Julia Clapis

    The Dr. Loeb Prize
    Samira Abdelrehim

    Friends of the School of Dental Medicine – Fox Award
    Dedrian Barrett

    International College of Dentists Student Humanitarian Award
    Nina Penabad

    International College of Dentists Student Leadership Award
    Eddyson Altidor

    Society for Color and Appearance in Dentistry (SCAD)
    Richard Cadena

    The Brian D. Stone Student Memorial Award
    Jake Wallach

    The Pierre Fauchard Academy Award
    Jason Deck

    The Quintessence Award for Research Achievement
    Emma Winchester

    University of Connecticut School of Dental Medicine Professional Development Award
    John Dellalana

    American Association of Women Dentists Eleanor J. Bushee Senior Dental Student Award
    Megna Senthilnathan

    Olmstead Prize in Geriatrics
    Ninad Vora

    Academic Achievement Award 2025 Sponsored by the Provost’s Commission on the Status of Women, the UConn Alumni Association, and the Women’s Center
    Samira Abdelrehim

    ADEA Dr. Jean Craig Sinkford Student Leadership Award
    Dedrian Barrett

    US Public Health Service Dental Award
    Serene Elbach

    2025 ASDA Award of Excellence
    Sarah Nevolis

    Commencement Speaker
    Kristina Dubois

    The Alumni Relations Award
    Victoria D’Agostino
    Eddyson Altidor
    Mychael Mckeever

    Health Careers Bridge Award
    Nina Penabad

    Phi Chi Chapter of Omicron Kappa Upsilon 2025 Inductees
    Samira Abdelrehim
    Dedrian Barrett
    Emma Bergstrom
    Sierra Furey
    Danielle Gosselin
    Michael Truhlar

    The South Park Inn Dental Clinic Award
    Vanessa Vlaun
    Dr. Hang Le

    Kaiser Permanente Teaching Award
    Dr. Ellen Eisenberg

    MIL OSI USA News

  • MIL-OSI Global: Girls’ voices are needed to tackle misogyny and the manosphere – but they are being ignored

    Source: The Conversation – UK – By Chiara Fehr, PhD Candidate in Gender and Sexuality Studies, UCL

    yunulia/Shutterstock

    The Netflix series Adolescence has sparked important conversations about the role of social media in spreading harmful content. It has widened the public’s understanding of the rampant uptake of digitally disseminated misogyny, the legacies of Andrew Tate and those like him, and the violence perpetuated by the manosphere. Prime Minister Keir Starmer has even supported a plan to show the series to young people in schools.

    But when the term “misogyny” is brought up in reference to the manosphere, girls and women often become abstract representations of victimhood. Their voices are missing. Conversation around Adolescence, as well as wider coverage on the online misogyny, tends to prioritise the opinions, behaviour and experiences of boys and how they can be supported.

    Very little so far has been said about how those victimised feel towards the cultural uptake of misogyny. We need to know how this is playing out in real time in and around schools for girls, and what structures of support are necessary for them.

    The crux of online misogyny lies in the systemic dehumanisation of women and girls. We need this to be a part of the discussion and to find solutions.

    In 2021, in the wake of COVID-19, an Ofsted review explored sexual abuse in schools and colleges. Girls were asked about the types of sexual behaviour they experienced among their peer group. 92% of girls mentioned sexist name calling, and 88% said that they or their peers had received unsolicited explicit pictures or videos.

    Similarly, one of us (Jessica) has carried out research with colleagues on over 600 young people on their experiences of sexual violence online and at school. The research found that 78% of all participants had experienced harms that included misogynistic, sexually harassing or homophobic comments, and image-based sexual abuse.

    For almost all the young people in the study – 98.5% – these experiences had increased during COVID-19.

    The other of us (Chiara), is conducting doctoral research into teenage girls’ online experiences. So far this research has found that most participants had been negatively affected by rhetoric of online misogyny influencers, both online and offline. For most, these negative experiences involved behaviour from their male peers at school.

    Misogyny is normalised as ‘lad banter’.
    Tsuguliev/Shutterstock

    The girls recounted seeing a lot of manosphere content online and hearing discussions at school, which they found “unsettling” and “scary” as they promoted harmful body image and toxic sexual scripts. Much of this related to the standards boys in their schools would set for girls’ appearance.

    The girls also discussed how boys at their school did not understand the seriousness of their misogynist behaviour. “They do it to wind us up, to get a reaction from us … to them it’s all a joke,” one girl said.

    This aligns with previous research by Jessica and her colleagues on manosphere messages and the sharing of nude images in school. Misogyny is legitimised as part of lad banter. “It’s normalised with boys to like to behave that way, I think,” a year-nine girl (aged 13-14) in one study said.

    An everyday reality

    Young people are already very familiar with, and regularly deal with, the mundane reality of misogyny in their everyday lives. They do not need to be shown a television show, like Adolescence, which sensationalises and dramatises misogyny through the murder of a young girl. This show was not intended for educational purposes and would do little to change misogynist attitude of boys while potentially terrify girls.

    When addressing the radicalisation of boys online, the experiences of those who have been victimised need to be included. Young people should be taught to recognise patriarchal power structures and to be critical of online media, so they can better identify manosphere type messaging that legitimises misogyny.

    Unfortunately, although relationships and sex education is now a compulsory subject in UK schools, it is often poorly resourced and low priority. It does not necessarily cover issues such as sexual violence and misogyny, nor does it typically connect the dots to how sexual violence is normalised in digital and non-digital environments. Jessica and colleagues have co-produced relationships and sex education lessons that cover the complexity of online and offline sexual harassment, abuse and misogyny.

    Politicians across the UK need to make a systematic and concerted effort to support and regulate high-quality relationships and sex education. Training for teachers is necessary to address issues of sexual violence in a wider and more comprehensive way.

    Relying on a TV show that sensationalises misogyny and the manosphere, re-centres masculinity and erases the experiences of those victimised including girls and gender diverse youth, will not solve any of the pressing contemporary issues around the influx of digitally exacerbated misogyny.

    Jessica Ringrose receives funding from Arts and Humanities Research Council

    Chiara Fehr 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. Girls’ voices are needed to tackle misogyny and the manosphere – but they are being ignored – https://theconversation.com/girls-voices-are-needed-to-tackle-misogyny-and-the-manosphere-but-they-are-being-ignored-254626

    MIL OSI – Global Reports

  • MIL-OSI United Kingdom: Director of Kent car sales company banned for Covid loan abuse

    Source: United Kingdom – Executive Government & Departments

    Press release

    Director of Kent car sales company banned for Covid loan abuse

    Joseph Harrison, the director of South East Commercials Ltd was disqualified as a director for 12 years and ordered to repay £38,295.

    • Car dealer Joseph Harrison applied for two Covid Bounce Back loans, totalling £90,000 on behalf of his company. 

    • He was only entitled to one Covid loan for his company, South East Commercials Ltd, under the rules of the scheme. 

    • Harrison was subject to a director disqualification order which came into effect on 6 May 2025 following a hearing at the High Court in London.  

    A car dealer from Kent – who is now living in Spain – has been banned from being a company director for 12 years after his company received a second £45,000 Covid Bounce Back loan it was not entitled to.  

    Joseph Harrison, from Wrotham, was the director of South East Commercials Ltd – a used car sales dealership in Kent – before it was dissolved in January this year.  

    An Insolvency Service investigation found that the 38-year-old applied for a Covid loan of £45,000 in June 2020.   

    However, he applied for a second loan – in August 2020 – for a further £45,000 having declared this was his first and only application for his business.  

    At a hearing at the High Court in London on 15 April 2025 Harrison was disqualified from being a director for 12 years, with his ban beginning on 6 May 2025. 

    He was also ordered to repay the current balance of £38,295 from the second loan.  

    Ann Oliver, Chief Investigator at the Insolvency Service, said:  

    Joseph Harrison applied for and received a second Covid loan when he was only entitled to one for his car sales business.  

    A 12-year ban is a significant disqualification and demonstrates the seriousness of his actions.  

    The Insolvency Service is committed to ensuring those who abused this scheme – which was designed to benefit the economy and help small businesses – are brought to justice. 

    Joseph Harrison operated as a sole trader for a number of years before South East Commercials Ltd was incorporated in May 2020.  

    The company sold used cars and light motor vehicles, such as motorcycles.  

    In the report to creditors, Mr Harrison stated that the first Bounce Back loan application was made by a third party on his behalf.  

    The Insolvency Service did not find evidence of a third party’s involvement.  

    He also stated that he did not know that only one successful loan application was permitted under the scheme.  

    However, the Insolvency Service has seen evidence that Mr Harrison signed the declaration on his company’s second loan application confirming that this was his first and only application. 

    Joseph Harrison was disqualified for 12 years under sections 6 and 15A of the Company Directors Disqualification Act 1986. 

    The Bounce Back loan scheme helped small and medium-sized businesses to borrow between £2,000 and £50,000, at a low interest rate, guaranteed by the Government.  

    Further information:  

    Updates to this page

    Published 8 May 2025

    MIL OSI United Kingdom

  • MIL-OSI: GAMCO Investors, Inc. Reports Results for the First Quarter 2025

    Source: GlobeNewswire (MIL-OSI)

    • Quarter End AUM of $31.2 billion
    • Operating Margin of 32.4% for the First Quarter
    • First Quarter Earnings of $0.81 per Share versus $0.64 per Share in the First Quarter of 2024
    • $175.4 million in Cash, Cash Equivalents, Seed Capital, and Investments, and No Debt
    • Entered Partnership with Keeley on May 1st of 4 Open-End Funds and ~500 Separately Managed Accounts from Keeley-Teton, Adding Close to $1.0 billion in AUM
    • Opened an office in Zurich, Switzerland

    GREENWICH, Conn., May 08, 2025 (GLOBE NEWSWIRE) — GAMCO Investors, Inc. (“Gabelli”) (OTCQX: GAMI) today reported its operating results for the quarter ended March 31, 2025.

    Financial Highlights

    (In thousands, except percentages and per share data)
        Three Months Ended  
        March 31, 2025   December 31, 2024   March 31, 2024  
    U.S. GAAP              
    Revenue   $ 57,328     $ 59,262     $ 56,945    
    Expenses     38,735       42,130       41,597    
    Operating income     18,593       17,132       15,348    
    Non-operating income     1,220       3,452       4,372    
    Net income     18,271       15,269       15,810    
    Diluted earnings per share   $ 0.81     $ 0.64     $ 0.64    
    Operating margin     32.4 %     28.9 %     27.0 %  
                   


    Giving Back to Society – $80 million since IPO

    Since our initial public offering in February 1999, our firm’s combined charitable donations total approximately $80 million, including $48 million through the shareholder designated charitable contribution program. Based on the program created by Warren Buffett at Berkshire Hathaway, our corporate charitable giving is unique in that the recipients of Gabelli’s charitable contributions are chosen directly by our shareholders, rather than by our corporate officers. Since its inception in 2013, Gabelli shareholders have designated charitable gifts to approximately 350 charitable organizations.

    On August 6, 2024, Gabelli’s board of directors authorized the creation of a private foundation, headquartered in Reno, Nevada, to continue our charitable giving program with an initial contribution of $5 million.

    Revenue

    (In thousands) Three Months Ended  
      March 31, 2025   March 31, 2024  
    Investment advisory and incentive fees        
    Funds $ 38,681     $ 37,270    
    Institutional and Private Wealth Management   15,101       15,196    
    SICAV   4       6    
    Total $ 53,786     $ 52,472    
    Distribution fees and other income   3,542       4,473    
    Total revenue $ 57,328     $ 56,945    
             

    The year over year increase in Funds revenues was primarily the result of higher average assets under management. The decrease in Institutional and Private Wealth Management revenues was primarily the result of lower beginning of the quarter equity assets under management, which are generally used to calculate the revenues. The decrease in distribution fees and other income was primarily the result of a decrease in equity mutual funds AUM that pay distribution fees.

    Expenses

    (In thousands) Three Months Ended  
      March 31, 2025   March 31, 2024  
    Compensation $ 26,616     $ 28,554    
    Management fee   2,202       2,191    
    Distribution costs   5,138       5,950    
    Other operating expenses   4,779       4,902    
    Total expenses $ 38,735     $ 41,597    
             
    • The lower compensation expense in the first quarter of 2025 when compared to the prior year quarter reflected $2.8 million of waived compensation partially offset by increased fixed compensation of $0.2 million and increased variable compensation of $0.6 million.

    Operating Margin

    The operating margin, which represents the ratio of operating income to revenue, was 32.4% for the first quarter of 2025 compared with 27.0% for the first quarter of 2024.

    Non-Operating Income

    (In thousands) Three Months Ended  
      March 31, 2025   March 31, 2024  
    Gain/(loss) from investments, net $ (110 )   $ 1,632    
    Interest and dividend income   1,622       3,033    
    Interest expense (a)   (292 )     (293 )  
    Total non-operating income $ 1,220     $ 4,372    
             
    (a) Related to GAAP accounting of finance lease.
             

    Non-operating income decreased $3.2 million for the quarter, reflecting the mark-to-market net loss on our investment portfolio for the quarter and a decrease in interest and dividend income.

    Other Financial Highlights

    The effective income tax rate (“ETR”) for the first quarter of 2025 was 7.8% versus 19.8% for the first quarter of 2024. The ETR for the first quarter of 2025 consisted of the statutory Federal tax rate of 21% offset by a net state income credit rate of 13.2%, relating to the release of an uncertain tax position accrual as a result of a settlement with New York State whereby the Company gave up the right to a refund in exchange for the closing of the audit years 2007-2014.

    Cash, cash equivalents, and investments were $175.4 million with no debt at March 31, 2025.

    Growth Initiatives: Lift-outs, Partnerships, Joint Ventures, New Markets

    • Partnership with Keeley management will enhance our research and portfolio teams for small and mid-cap focused assets

    On May 1, 2025, Gabelli completed partnership with the Keeley family for the management contracts of 4 open-end funds and approximately 500 separately managed accounts from Teton Advisors, LLC, adding close to $1.0 billion of AUM. The current Chicago-based Keeley research, portfolio management, and client service teammates have joined Gabelli and continue to manage and service these AUM. Our history with the Keeley founder, John L. Keeley, Jr., goes back to before the founding of our enterprise from the mid-1960s when John L. Keeley, Jr. and our Executive Chairman were both sell side analysts. Both firms are privileged to continue our shared focus on a client first culture.

    • Opened Zurich office with lift-out of research and sales teammates.

    Assets Under Management

    (In millions) As of  
      March 31, 2025   December 31, 2024   March 31, 2024  
                 
    Mutual Funds $ 7,959     $ 8,078     $ 8,235    
    Closed-end Funds   7,365       7,344       7,313    
    Institutional & PWM (a) (b)   10,182       10,700       11,146    
    SICAV   9       9       9    
    Total Equities   25,515       26,131       26,703    
                 
    100% U.S. Treasury Money Market Fund   5,638       5,552       4,965    
    Institutional & PWM Fixed Income   32       32       32    
    Total Treasuries & Fixed Income   5,670       5,584       4,997    
    Total Assets Under Management $ 31,185     $ 31,715     $ 31,700    
                 
    (a) Includes $206, $242, and $345 of AUM subadvised for Teton Advisors, Inc. at March 31, 2025,  
    December 31, 2024, and March 31, 2024, respectively.  
    (b) Includes $233, $237, and $225 of 100% U.S. Treasury Money Market Fund AUM at March 31, 2025,  
    December 31, 2024, and March 31, 2024, respectively.  
                 

    Assets under management on March 31, 2025 were $31.2 billion, a decrease of 1.6% from the $31.7 billion on December 31, 2024. The quarter’s decrease consisted of net outflows of $0.7 billion, and distributions, net of reinvestments, of $0.1 billion partially offset by net market appreciation of $0.3 billion.

    Mutual Funds

    Assets under management in Mutual Funds on March 31, 2025 were $8.0 billion, a decrease of 1.2% from the $8.1 billion at December 31, 2024. The quarterly change was attributed to:

    • Distributions, net of reinvestment, of $4 million;
    • Net outflows of $199 million; and
    • Net market appreciation of $84 million.

    Closed-end Funds

    Assets under management in Closed-end Funds on March 31, 2025 were $7.4 billion, an increase of 1.4% from the $7.3 billion on December 31, 2024. The quarterly change was comprised of:

    • Distributions, net of reinvestment, of $138 million;
    • Net outflows of $40 million, including the redemption of $37 million of preferred shares, and the repurchase of $11 million of common stock partially offset by the issuance of $8 million preferred shares; and
    • Net market appreciation of $199 million.

    Institutional & PWM

    Assets under management in Institutional & PWM on March 31, 2025 were $10.2 billion, a decrease of 4.7% from the $10.7 billion on December 31, 2024. The quarterly change was due to:

    • Net outflows of $481 million; and
    • Net market depreciation of $37 million.

    SICAV

    Assets under management were $9 million in the GAMCO All Cap Value sleeve and the GAMCO Convertible Securities sleeve on March 31, 2025, unchanged from $9 million at December 31, 2024.

    100% U.S. Treasury Money Market Fund

    Assets under management in our 100% U.S. Treasury Money Market Fund (GABXX) on March 31, 2025 were $5.6 billion unchanged from the $5.6 billion at December 31, 2024.


    The Gabelli Gold Fund – Up 32% For 1
    stquarter of 2025

    Portfolio manager Caesar Bryan commented on The Gabelli Gold Fund’s 1st quarter 2025 performance:

    The gold price performed strongly in the first quarter of 2025, building on its gains over the past two years. Gold ended the quarter at $3,124 per ounce for a gain of about $500 per ounce or 19.0%. Gold mining equities returned in excess of 30%, outperforming the gold price by over fifty percent. Until recently, the gold price has appreciated largely due to overseas central bank buying. However, more recently, investors have been adding to their gold holdings. This is evidenced by the rise in ounces of gold held by all the gold bullion ETFs. During the first quarter, gold ETFs added over 5m ounces to 88.0m ounces, which amounts to about $15bn. Unsurprisingly, in a strong quarter for gold stocks, our larger holdings were the top contributors to performance. The biggest contributor was Agnico Eagle, our largest holding, which appreciated by 39.1% and added 3.5% to performance. Other leading contributors were Newmont, Kinross, and Alamos. In terms of stock price performance, some of our smaller producers and development companies dominated. In this environment, gold should perform well and gold equities, that are over twenty five percent lower than their 2011 high, offer an opportunity for significant capital gains and income.

    Assets Under Administration

    (In millions) As of  
      March 31, 2025   December 31, 2024   March 31, 2024  
                 
    Teton-Keeley Funds (a) $ 750     $ 809     $ 952    
    SICAV   401       408       580    
    Total Assets Under Administration $ 1,151     $ 1,217     $ 1,532    
                 
    (a) Includes $206, $242 and $345 of AUM subadvised for Teton Advisors, Inc. at  
    March 31, 2025, December 31, 2024 and March 31, 2024, respectively.  
                 

    AUA on March 31, 2025 were $1.2 billion, unchanged from the $1.2 billion at December 31, 2024.

    Return to Shareholders

    During the first quarter of 2025, Gabelli returned $14.1 million to shareholders in the form of the repurchase of 499,710 shares for $12.3 million at an average investment of $24.27 per share and a regular quarterly dividend of $0.08 per share totaling $1.8 million. From April 1, 2025 to May 7, 2025, the Company has repurchased 19,213 shares at an average price of $20.90 per share for an aggregate purchase price of approximately $0.4 million.

    On May 7, 2025, Gabelli’s board of directors declared a regular quarterly dividend of $0.08 per share, which is payable on June 24, 2025 to class A and class B shareholders of record on June 10, 2025.

    Balance Sheet Information        

    As of March 31, 2025, cash, cash equivalents, and U.S Treasury Bills were $103.5 million and investments were $71.9 million, compared with cash, cash equivalents, and U.S. Treasury Bills of $116.5 million and investments of $66.3 million as of December 31, 2024. As of March 31, 2025, stockholders’ equity was $141.6 million compared to $137.3 million as of December 31, 2024. The increase in stockholders’ equity resulted from $18.3 million in net income offset partially by the payment of $1.8 million in dividends and $12.3 million of stock buybacks.

    Symposiums/Conferences

    • On February 27th, we hosted our 35th Annual Pump, Valve & Water Systems Symposium. The symposium focused on themes crucial to this industry, including infrastructure spending, resource security, conservation, and M&A.
    • On March 20th, we hosted our 16th Annual Specialty Chemicals Symposium. The symposium featured presentations from senior management of leading specialty chemicals companies, with a focus on pricing power, margin recovery, interest rates, destocking, global supply chain, global demand trends, and the M&A environment.
    • On May 2nd, GAMCO hosted its 19th annual Omaha Research Trip in conjunction with the Berkshire Hathaway Annual Meeting. This Value Investor Conference attracted a record number of participants with Gabelli portfolio managers anchoring panels with noted Berkshire experts and regional CEOs.

    We are hosting the following symposiums and conferences in 2025:


    About Gabelli

    Gabelli (OTCQX: GAMI), established in 1977 and incorporated under the laws of Delaware, is a widely-recognized provider of investment advisory services to 24 open-end funds, 13 United States closed-end funds and one United Kingdom limited investment company, 5 actively managed exchange traded funds, one société d’investissement à capital variable, and approximately 1,400 institutional and private wealth management investors principally in the U.S. The Company’s revenues are based primarily on the levels of assets under management and fees associated with the various investment products.

    In 1977, Gabelli launched its well-known All Cap Value equity strategy, Gabelli Value, in a separate account format and in 1986 entered the mutual fund business. Today, Gabelli offers a diverse set of client solutions across asset classes (e.g. Equities, Debt Instruments, Convertibles, non-market correlated Merger Arbitrage), regions, market capitalizations, sectors (e.g. Gold, Utilities) and investment styles (e.g. Value, Growth). Gabelli serves a broad client base, including institutions, intermediaries, offshore investors, private wealth, and direct retail investors.

    CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

    Our disclosure and analysis in this press release, which do not present historical information, contain “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements convey our current expectations or forecasts of future events. You can identify these statements because they do not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and other words and terms of similar meaning. They also appear in any discussion of future operating or financial performance. In particular, these include statements relating to future actions, future performance of our products, expenses, the outcome of any legal proceedings, and financial results. Although we believe that we are basing our expectations and beliefs on reasonable assumptions within the bounds of what we currently know about our business and operations, the economy, and other conditions, there can be no assurance that our actual results will not differ materially from what we expect or believe. Therefore, you should proceed with caution in relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance.

    Forward-looking statements involve a number of known and unknown risks, uncertainties and other important factors, some of which are listed below, that are difficult to predict and could cause actual results and outcomes to differ materially from any future results or outcomes expressed or implied by such forward-looking statements. Some of the factors that may cause our actual results to differ from our expectations include risks associated with the duration and scope of the ongoing coronavirus pandemic resulting in volatile market conditions, a decline in the securities markets that adversely affect our assets under management, negative performance of our products, the failure to perform as required under our investment management agreements, and a general downturn in the economy that negatively impacts our operations. We also direct your attention to the more specific discussions of these and other risks, uncertainties and other important factors contained in our Annual Report and other public filings. Other factors that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake to update publicly any forward-looking statements if we subsequently learn that we are unlikely to achieve our expectations whether as a result of new information, future developments or otherwise, except as may be required by law.

    Gabelli Funds, LLC is a registered investment adviser with the Securities and Exchange Commission and is a wholly owned subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

    Investors should carefully consider the investment objectives, risks, charges and expenses of the fund before investing. The prospectus, which contains more complete information about this and other matters, should be read carefully before investing. To obtain a prospectus, please call 800 GABELLI or visit www.gabelli.com
    Fitch rating drivers include: credit quality, interest rate risk, liquid assets, maturity profiles, and the capabilities of the investment advisor

    Money Market Fund

    Investment in the fund is neither guaranteed nor insured by the Federal Deposit Insurance Corporation or any government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time. You could lose money by investing in the fund.

    Gold

    Investments related to gold and other precious metals and minerals are considered speculative and are affected by a variety of worldwide economic, financial, and political factors. Investing in foreign securities involves risks not ordinarily associated with investment in domestic issues. Funds concentrating in specific sectors may experience greater fluctuations in value than funds that are more diversified. Not FDIC Insured. Not Bank Guaranteed. May Lose Value.

    As of March 31, 2025, GAMI and affiliates owned less than one percent of all stocks mentioned in the Gold Fund.

    Returns represent past performance and do not guarantee future results. Investment returns and the principal value of an investment will fluctuate. When shares are redeemed, they may be worth more or less than their original cost. Current performance may be lower or higher than the performance data presented. Visit www.gabelli.com for performance information as of the most recent month end.

    GAMCO Investors, Inc. and Subsidiaries  
    Condensed Consolidated Statements of Operations (Unaudited)  
    (in thousands, except per share data)  
      Three Months Ended  
      March 31, 2025   December 31, 2024   March 31, 2024  
    Revenue:            
    Investment advisory and incentive fees $ 53,786     $ 55,502     $ 52,472    
    Distribution fees and other income   3,542       3,760       4,473    
    Total revenue   57,328       59,262       56,945    
    Expenses:            
    Compensation   26,616       28,839       28,554    
    Management fee   2,202       2,287       2,191    
    Distribution costs   5,138       5,634       5,950    
    Other operating expenses   4,779       5,370       4,902    
    Total expenses   38,735       42,130       41,597    
    Operating income   18,593       17,132       15,348    
    Non-operating income:            
    Gain/(loss) from investments, net   (110 )     644       1,632    
    Interest and dividend income   1,622       3,090       3,033    
    Interest expense   (292 )     (282 )     (293 )  
    Total non-operating income   1,220       3,452       4,372    
    Income before provision for income taxes   19,813       20,584       19,720    
    Provision for income taxes   1,542       5,315       3,910    
    Net income $ 18,271     $ 15,269     $ 15,810    
                 
    Earnings per share attributable to common            
    stockholders:            
    Basic $ 0.81     $ 0.64     $ 0.64    
    Diluted $ 0.81     $ 0.64     $ 0.64    
                 
    Weighted average shares outstanding:            
    Basic   22,632       23,971       24,808    
    Diluted   22,632       23,971       24,808    
                 
    Shares outstanding   22,431       22,930       24,585    
                 
    GAMCO Investors, Inc. and Subsidiaries  
    Condensed Consolidated Statements of Financial Condition (Unaudited)  
    (in thousands)  
         
      March 31,   December 31,   March 31,  
        2025       2024       2024    
    Assets            
    Cash and cash equivalents $ 53,596     $ 17,254     $ 65,467    
    Short-term investments in U.S. Treasury Bills   49,900       99,216       99,073    
    Investments in securities   43,117       36,855       30,351    
    Seed capital investments   28,772       29,452       26,184    
    Receivable from brokers   3,030       3,103       1,111    
    Other receivables   20,062       21,246       23,576    
    Deferred tax asset and income tax receivable   9,420       8,042       8,384    
    Other assets   10,207       9,509       9,614    
    Total assets $ 218,104     $ 224,677     $ 263,760    
                 
    Liabilities and stockholders’ equity            
    Income taxes payable $ 9,902     $ 193     $ 3,464    
    Compensation payable   26,915       40,633       25,100    
    Accrued expenses and other liabilities   39,713       46,546       45,910    
    Total liabilities   76,530       87,372       74,474    
                 
    Stockholders’ equity   141,574       137,305       189,286    
    Total liabilities and stockholders’ equity $ 218,104     $ 224,677     $ 263,760    
                 
                 
    GAMCO Investors, Inc. and Subsidiaries   
    Assets Under Management  
    By investment vehicle  
    (in millions)  
      Three Months Ended   % Changed From  
      March 31,   December 31,   March 31,   December 31,   March 31,  
       2025    2024    2024   2024   2024  
    Equities:                    
    Mutual Funds                    
    Beginning of period assets $ 8,078     $ 8,440     $ 7,973            
    Inflows   190       211       176            
    Outflows   (389 )     (420 )     (432 )          
    Net inflows (outflows)   (199 )     (209 )     (256 )          
    Market appreciation (depreciation)   84       (126 )     523            
    Fund distributions, net of reinvestment   (4 )     (27 )     (5 )          
    Total increase (decrease)   (119 )     (362 )     262            
    Assets under management, end of period $ 7,959     $ 8,078     $ 8,235     -1.5 %   -3.4 %  
    Percentage of total assets under management   25.5 %     25.5 %     26.0 %          
    Average assets under management $ 8,176     $ 8,447     $ 7,965     -3.2 %   2.6 %  
                         
    Closed-end Funds                    
    Beginning of period assets $ 7,344     $ 7,459     $ 7,097            
    Inflows   8       212       41            
    Outflows   (48 )     (43 )     (103 )          
    Net inflows (outflows)   (40 )     169       (62 )          
    Market appreciation (depreciation)   199       (155 )     404            
    Fund distributions, net of reinvestment   (138 )     (129 )     (126 )          
    Total increase (decrease)   21       (115 )     216            
    Assets under management, end of period   7,365     $ 7,344     $ 7,313     0.3 %   0.7 %  
    Percentage of total assets under management   23.6 %     23.2 %     23.1 %          
    Average assets under management $ 7,505     $ 7,610     $ 7,060     -1.4 %   6.3 %  
                         
    Institutional & PWM                    
    Beginning of period assets $ 10,700     $ 10,984     $ 10,738            
    Inflows   120       62       66            
    Outflows   (601 )     (407 )     (428 )          
    Net inflows (outflows)   (481 )     (345 )     (362 )          
    Market appreciation (depreciation)   (37 )     61       770            
    Total increase (decrease)   (518 )     (284 )     408            
    Assets under management, end of period $ 10,182     $ 10,700     $ 11,146     -4.8 %   -8.6 %  
    Percentage of total assets under management   32.7 %     33.7 %     35.2 %          
    Average assets under management $ 10,772     $ 11,085     $ 10,798     -2.8 %   -0.2 %  
                         
    SICAV                    
    Beginning of period assets $ 9     $ 9     $ 631            
    Inflows                          
    Outflows               (2 )          
    Net inflows (outflows)               (2 )          
    Market appreciation (depreciation)                          
    Reclassification to AUA               (620 )          
    Total increase (decrease)               (622 )          
    Assets under management, end of period $ 9     $ 9     $ 9     0.0 %   0.0 %  
    Percentage of total assets under management   0.0 %     0.0 %     0.0 %          
    Average assets under management $ 9     $ 9     $ 10     0.0 %   -10.0 %  
                         
    Total Equities                    
    Beginning of period assets $ 26,131     $ 26,892     $ 26,439            
    Inflows   318       485       283            
    Outflows   (1,038 )     (870 )     (965 )          
    Net inflows (outflows)   (720 )     (385 )     (682 )          
    Market appreciation (depreciation)   246       (220 )     1,697            
    Fund distributions, net of reinvestment   (142 )     (156 )     (131 )          
    Reclassification to AUA               (620 )          
    Total increase (decrease)   (616 )     (761 )     264            
    Assets under management, end of period $ 25,515     $ 26,131     $ 26,703     -2.4 %   -4.4 %  
    Percentage of total assets under management   81.8 %     82.4 %     84.2 %          
    Average assets under management $ 26,462     $ 27,151     $ 25,833     -2.5 %   2.4 %  
                         
    GAMCO Investors, Inc. and Subsidiaries   
    Assets Under Management  
    By investment vehicle – continued   
    (in millions)  
      Three Months Ended   % Changed From  
      March 31,   December 31,   March 31,   December 31,   March 31,  
       2025    2024    2024   2024   2024  
    Fixed Income:                    
    100% U.S. Treasury fund                    
    Beginning of period assets $ 5,552     $ 5,268     $ 4,615            
    Inflows   1,372       1,656       1,605            
    Outflows   (1,341 )     (1,440 )     (1,315 )          
    Net inflows (outflows)   31       216       290            
    Market appreciation (depreciation)   55       68       60            
    Total increase (decrease)   86       284       350            
    Assets under management, end of period $ 5,638     $ 5,552     $ 4,965     1.5 %   13.6 %  
    Percentage of total assets under management   18.1 %     17.5 %     15.7 %          
    Average assets under management $ 5,552     $ 5,415     $ 4,832     2.5 %   14.9 %  
                         
    Institutional & PWM Fixed Income                    
    Beginning of period assets $ 32     $ 32     $ 32            
    Inflows                          
    Outflows                          
    Net inflows (outflows)                          
    Market appreciation (depreciation)                          
    Total increase (decrease)                          
    Assets under management, end of period $ 32     $ 32     $ 32     0.0 %   0.0 %  
    Percentage of total assets under management   0.1 %     0.1 %     0.1 %          
    Average assets under management $ 32     $ 32     $ 32     0.0 %   0.0 %  
                         
    Total Treasuries & Fixed Income                    
    Beginning of period assets $ 5,584     $ 5,300     $ 4,647            
    Inflows   1,372       1,656       1,605            
    Outflows   (1,341 )     (1,440 )     (1,315 )          
    Net inflows (outflows)   31       216       290            
    Market appreciation (depreciation)   55       68       60            
    Total increase (decrease)   86       284       350            
    Assets under management, end of period $ 5,670     $ 5,584     $ 4,997     1.5 %   13.5 %  
    Percentage of total assets under management   18.2 %     17.6 %     15.8 %          
    Average assets under management $ 5,584     $ 5,447     $ 4,864     2.5 %   14.8 %  
                         
    Total AUM                    
    Beginning of period assets $ 31,715     $ 32,192     $ 31,086            
    Inflows   1,690       2,141       1,888            
    Outflows   (2,379 )     (2,310 )     (2,280 )          
    Net inflows (outflows)   (689 )     (169 )     (392 )          
    Market appreciation (depreciation)   301       (152 )     1,757            
    Fund distributions, net of reinvestment   (142 )     (156 )     (131 )          
    Reclassification to AUA               (620 )          
    Total increase (decrease)   (530 )     (477 )     614            
    Assets under management, end of period $ 31,185     $ 31,715     $ 31,700     -1.7 %   -1.6 %  
    Average assets under management $ 32,046     $ 32,598     $ 30,697     -1.7 %   4.4 %  
                         
       
    Contact: Kieran Caterina
      Chief Accounting Officer
      (914) 921-5149
       
      For further information please visit
      www.gabelli.com
       

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/fdf70333-2c19-43f2-ac7e-f41e523355c5

    https://www.globenewswire.com/NewsRoom/AttachmentNg/14973722-0885-4fca-8e88-5fad950be53c

    The MIL Network

  • MIL-OSI United Kingdom: Help us improve Park and Ride sites across York

    Source: City of York

    Published Thursday, 8 May 2025

    City of York Council has today begun a month-long public consultation to help inform the design of future improvements at five of York’s Park and Ride sites.

    The planned works aim to attract new customers to use the Park & Ride, and will provide more accessible, easier to use facilities and greater transport options such as improved cycling parking.  Five of York’s six Park and Ride sites are included in the project; Poppleton Bar, Grimston Bar, Askham Bar, Rawcliffe Bar and Monks Cross. The Designer Outlet Park and Ride site is not owned by the council, so will not be affected by the planned upgrades.

    The changes proposed include:

    • The introduction of overnight car parking at Rawcliffe Bar and Askham Bar Park and Ride sites to support the city’s residents and visitors, plus our thriving overnight economy.
    • Better located dedicated parking for oversized vehicles at Askham Bar, Rawcliffe Bar and Grimston Bar (daytime only). A new building will also be delivered to replace outdated facilities at Grimston
    • Improvements to the accessibility of the sites and parking areas; new waiting facilities, lighting, pathways, refurbished toilets including Changing Places facilities
    • Improved facilities for multi-modal trips. The improvements included will vary by site (e.g. long-distance bus and coach routes, car club vehicles, improved cycle parking and lockers).

    Overnight parking will offer greater flexibility to both residents taking trips away from York (e.g. using Park and Ride to connect to train services for commuting or a weekend away) as well as visitors coming into the city for overnight stays. It will be offered at Askham Bar and Rawcliffe Bar – chosen because they are most easily reached from major towns and cities such as Leeds.

    Some of the main principles of offering overnight parking are:

    • Drivers will have access to their cars 24 hours a day, so you can drop off or collect your car at any time
    • Offering a viable option for longer stays that avoids the need to drive into and pay for parking in the city centre, helping reduce congestion
    • The sites will have improved CCTV, security and lighting
    • Bus services won’t be running through the night. Taxis or cycles can be used to get to either site and collect your car during hours when buses aren’t running
    • The service will not be offered to vehicles higher than a small van – so will not be available for campervans or caravans. No facilities will be offered and no one will be able to stay in their vehicle overnight.

    The project is fully funded by the UK Government’s Bus Service Improvement Plan (BSIP). York was allocated over £17m to improve the city’s bus network and £4m of this has been allocated to improving the Park and Ride sites. Alongside the Park and Ride project, BSIP funding is being used to deliver an on-going programme of works to install new real-time information screens across the city and surrounding villages; improved lighting and shelters, plus reducing fares for young people to just £1.

    Last year saw a considerable increase in Park and Ride usage, with over 4.5m passenger journeys – the highest number since the Covid pandemic.

    Cllr Kate Ravilious, Executive Member for Transport at City of York Council, said:

    “York’s Park and Ride is already a huge success story, offering excellent services for York’s residents, commuters and visitors. This project will increase transport options for everyone, making the sites themselves more accessible, encouraging even greater use. By introducing overnight parking at two sites we will offer a convenient alternative to driving and parking in the city centre, helping to reduce traffic congestion, improve bus reliability and free up the roads for those who need to drive.

    “I’d encourage everyone, whether you live in York or further afield, and whether you use the Park and Ride or not, to feedback on our proposals and help us maximise the benefits of the Park & Ride site upgrades”.

    The consultation is open between Thursday 8 May and Monday 9 June.

    To take part people can:

    • Read and complete the online survey at ourbigconversation.york.gov.uk
    • Email us at ourbigconversation@york.gov.uk, or write to us via freepost: Park and Ride Consultation, Freepost RTEG-TYYU-KLTZ, City of York Council, West Offices, Station Rise, York, YO1 6GA
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  • MIL-OSI: Himax Technologies, Inc. Reports First Quarter 2025 Financial Results; Provides Second Quarter Guidance

    Source: GlobeNewswire (MIL-OSI)

    Q1 2025 Revenues At the High End of Projected Range, Gross Margin In-Line, EPS Exceeded Guidance Range Issued on February 13, 2025
    Company Q2 2025 Guidance: Revenues to Decrease 5.0% to Increase 3.0% QoQ, Gross Margin is Expected to be Around 31.0%. Profit per Diluted ADS to be 8.5 Cents to 11.5 Cents

    • Q1 2025 revenues were $215.1M, a decrease of 9.3% QoQ, reaching the high end of the guidance range of 8.5% to 12.5% decrease QoQ
    • Q1 GM reached 30.5%, in line with guidance of around 30.5%, flat from last quarter but up from 29.3% the same period last year, mainly a result of favorable product mix and continued cost optimization
    • Q1 2025 after-tax profit was $20.0M, or 11.4 cents per diluted ADS, exceeding the guidance range of 9.0 cents to 11.0 cents
    • Himax Q2 2025 revenues to decline 5.0% to increase 3.0% QoQ. GM to be around 31.0%, up from 30.5% in the prior quarter. Profit per diluted ADS to be in the range of 8.5 cents to 11.5 cents
    • Currently, tariffs have not had a significant direct impact on Himax’s business
    • Conservative Q2 revenue guidance reflects customers’ overall caution toward the global economic outlook and end market demand. Low 2H25 market visibility as tariff negotiations continues
    • As the tariff-driven supply chain restructuring gains momentum, Himax is deepening its well-established Taiwan supply chain and strengthening into CN, KR, SG to enhance production flexibility, cost competitiveness and mitigate geopolitical risks
    • Despite near-term headwinds, Himax continues to lead the global automotive display market, holding a 40% share in DDIC, over 50% in TDDI, and an even higher share in cutting-edge local dimming Tcon technologies
    • Sample shipments of first-gen silicon photonics packaging solution for engineering validation and trial production are proceeding as planned. Himax continues to advance technology roadmap in close collaboration with FOCI, top-tier AI companies, and foundry partner through joint development of future-gen CPO solutions to meet the escalating bandwidth requirements driven by AI and HPC
    • Despite the volatile geopolitical environment, Himax continues to actively explore high-growth markets to expand global footprint while developing long-term competitive advantages. Established a three-party strategic alliance with Powerchip and Tata Electronics. The collaboration echoes the “Make in India” strategy of the Indian government for high-tech areas while exploring India’s vast market demand

    TAINAN, Taiwan, May 08, 2025 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (Nasdaq: HIMX) (“Himax” or “Company”), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, announced its financial results for the first quarter 2025 ended March 31, 2025.

    “The recent abrupt and significant NT dollar appreciation against the US dollar, its impact on our Q2 financial results is limited and has been accounted for in Q2 financial guidance. Currently, tariffs have not had a significant direct impact on Himax’s business, as our IC products are not directly exported to the U.S. Amid the volatile macro environment, most panel customers have adopted a make-to-order model and are keeping inventories lean. In response, we are carefully monitoring wafer-starts, maintaining low inventory levels, and rigorously controlling operating expenses,” said Mr. Jordan Wu, President and Chief Executive Officer of Himax.

    “Automotive IC business currently accounts for half of Himax’s revenue. Having served the automotive display market for almost two decades, Himax has maintained a balanced global market share across major regions while demonstrating technological leadership and offering the industry’s most comprehensive suite of panel ICs, spanning LCD to OLED. Combined with over a decade of loyal relationships with global Tier 1 suppliers and automotive brands, these strengths help mitigate potential risks from tariffs and reinforce the long-term stability of our automotive business. In addition, Himax remains committed to a number of innovative fields, namely ultralow power AI, AR glasses, and co-packaged optics. These innovative fields are relatively less affected by macroeconomic fluctuations, and customer development efforts have not slowed due to tariff uncertainties. We expect these businesses to contribute meaningfully to both revenue and gross margin in the years ahead,” concluded Mr. Jordan Wu.

    First Quarter 2025 Financial Results

    Himax net revenues registered $215.1 million, a decrease of 9.3% sequentially, reaching the high end of guidance range of a decline of 8.5% to 12.5%, but representing a 3.7% increase year over year. Gross margin was 30.5%, in line with guidance of around 30.5%, flat from last quarter and up from 29.3% in the same period last year. The year-over-year increase was driven by a favorable product mix and continued cost optimization. Q1 profit per diluted ADS was 11.4 cents, exceeding the guidance range of 9.0 to 11.0 cents, primarily due to lower operating expenses.

    Revenue from large display drivers came in at $25.0 million, flat from last quarter despite the seasonal downturn. This was primarily driven by demand spurred by Chinese government subsidies aimed at reviving domestic consumption. Notebook and monitor IC sales both recorded solid double-digit growth in Q1. In contrast, TV IC sales declined as expected, due to customers pulling forward their inventory purchases in the prior quarter. Sales of large panel driver ICs accounted for 11.6% of total revenues for the quarter, compared to 10.5% last quarter and 15.1% a year ago.

    Revenue from the small and medium-sized display driver segment totaled $150.5 million, reflecting a sequential decline of 9.8% amid a typical low season. However, Q1 automotive driver sales, including both traditional DDIC and TDDI, outperformed guidance of a low-teens sequential decline, declining just single digit from the last quarter. The sequential decline reflected the waning effect of the Chinese government’s renewed trade-in stimulus, announced in mid-August 2024, while demand in other major markets remained stable. Q1 auto IC sales rose nearly 20% year over year, reflecting ongoing customer reliance on Himax’s technology and the strength of Company’s competitive moat. Himax’s automotive business, comprising DDIC, TDDI, Tcon, and OLED IC sales, remained the largest revenue contributor in the first quarter, representing more than 50% of total revenues. Meanwhile, both smartphone and tablet driver sales declined as expected amid a subdued festival season. The small and medium-sized driver IC segment accounted for 70.0% of total sales for the quarter, compared to 70.3% in the previous quarter and 69.5% a year ago.

    Q1 non-driver sales reached $39.6 million, a 12.8% decrease from the previous quarter. The sequential decline was primarily attributable to the absence of a one-time ASIC Tcon shipment to a leading projector customer in the prior quarter, coupled with a moderation in automotive Tcon shipments after several quarters of robust growth. That being said, Himax’s position in local dimming Tcon for automotive remains unrivaled, supported by increasing validation and adoption from leading panel makers, Tier 1 suppliers, and automotive manufacturers around the world. Himax also has a robust pipeline of over two hundred design-win projects that are set to gradually enter mass production in the coming years. Non-driver products accounted for 18.4% of total revenues, as compared to 19.2% in the previous quarter and 15.4% a year ago.

    First quarter operating expenses were $45.7 million, a decrease of 7.0% from the previous quarter and a decline of 9.8% from a year ago. Amid ongoing macroeconomic challenges, Himax is strictly enforcing budget and expense controls.

    First quarter operating income was $19.8 million or 9.2% of sales, compared to 9.7% of sales last quarter and 4.8% of sales for the same period last year. The sequential decrease was mainly the result of lower sales, offset by lower operating expenses. The year-over-year increase resulted primarily from higher sales, improved gross margins, and lower operating expenses. First-quarter after-tax profit was $20.0 million, or 11.4 cents per diluted ADS, compared to $24.6 million, or 14.0 cents per diluted ADS last quarter, and up from $12.5 million, or 7.1 cents in the same period last year.

    Balance Sheet and Cash Flow

    Himax had $281.0 million of cash, cash equivalents and other financial assets as of March 31, 2025. This compares to $277.4 million at the same time last year and $224.6 million a quarter ago. Himax achieved a strong positive operating cash flow of $56.0 million for the first quarter. As of March 31, 2025, Himax had $33.0 million in long-term unsecured loans, with $6.0 million being the current portion.

    Himax’s quarter-end inventories as of March 31, 2025 were $129.9 million, lower than $158.7 million last quarter and $201.9 million same period last year. Himax’s inventory levels have steadily declined for ten consecutive quarters since peaking during the Covid 19 pandemic when the industry was undergoing a supply shortage. As macroeconomic uncertainty impairs visibility across the ecosystem, Himax will continue to manage its inventory conservatively. Accounts receivable at the end of March 2025 was $217.5 million, down from $236.8 million last quarter but slightly up from $212.3 million a year ago. DSO was 91 days at the quarter end, as compared to 96 days last quarter and 93 days a year ago. First quarter capital expenditures were $5.2 million, versus $3.2 million last quarter and $2.7 million a year ago. First quarter capex was mainly for R&D related equipment for Company’s IC design business and ongoing construction of a new preschool near Himax’s Tainan headquarters for children of employees. The preschool is scheduled to open in 2026, reinforcing Company’s commitment to a family‑friendly workplace.

    Prior to today’s call, Himax announced an annual cash dividend of 37.0 cents per ADS, totaling $64.5 million and payable on July 11, 2025, with a payout ratio of 81.1% of the previous year’s profit. Himax will continue to focus on maintaining a healthy balance sheet while driving sustainable long-term growth to deliver value for its shareholders through high dividends and share repurchases.

    Outstanding Share

    As of March 31, 2025, Himax had 174.9 million ADS outstanding, unchanged from last quarter. On a fully diluted basis, the total number of ADS outstanding for the first quarter was 175.1 million. 

    Q2 2025 Outlook

    On the recent abrupt and significant NT dollar appreciation against the US dollar, its impact on Himax’s Q2 financial results is limited and has been accounted for in the financial guidance for the quarter. All of Himax’s revenues and nearly all of its cost of sales are US dollar denominated, providing a natural hedge for its buying and selling activities. In addition, the bulk of our R&D expenses, save for employee salaries, are also US dollar based. For employee compensation, a major item of Himax’s operating expenses, while its employees are paid in the local currency of their location for their salaries, their bonuses are all US dollar based. Other major non-US dollar expenses, mostly NT dollar-denominated, include utilities and income tax expenses. While Company don’t hedge for currency risk of our non-US dollar based operational expenses as the cost of such hedging would usually outweigh the benefit, Himax does purchase NTD in advance to cover the income tax payable, thereby minimizing the currency risk of a major expense item.

    The recently announced U.S. tariff measures have intensified global trade tensions, triggered volatility in capital markets, and heightened macroeconomic and market demand uncertainty. Currently, tariffs have not had a significant direct impact on Himax’s business, as Company’s IC products are not directly exported to the U.S. Instead, they are assembled into panels or modules by customers outside the United States and then sold into global markets, including the United States. Just a negligible portion — about 2%—of Himax’s products are shipped directly to the United States. Only customers for these products are subject to U.S. tariffs. Almost all of these products are manufactured in Taiwan. While some customers have requested early shipments to avoid tariff duties, many others have opted to defer their orders amid ongoing tariff-related uncertainties. The company’s conservative Q2 revenue guidance reflects the highly cautious stance of its customers in general toward the global economic outlook and end market demand amid ongoing tariff development. Looking into the second half of the year, overall market visibility remains low with the world continuing to closely monitor the development of tariff negotiations. As the tariff-driven supply chain restructuring gains momentum, Himax is deepening its well-established supply chain in Taiwan while further strengthening its supply chain presence in China, Korea, Singapore, and other regions to ensure production flexibility and cost competitiveness, and to better mitigate geopolitical risks.   

    Amid the volatile macro environment, most panel customers have adopted a make-to-order model and are keeping inventories lean. In response, Himax is carefully monitoring wafer-starts, maintaining low inventory levels, and rigorously controlling operating expenses. Concurrently, Company is further optimizing costs by diversifying both foundry and backend packaging and testing, while mitigating risks and enhancing manufacturing flexibility. This approach is exemplified by the major milestone recently achieved in automotive display IC collaboration with Nexchip in China, with products now in mass production and adopted by leading automakers. This not only validates Himax’s diversified supply chain strategy but also underscores its steadfast commitment to scaling capacity and cost optimization.

    Automotive IC business currently accounts for half of Himax’s revenue. Having served the automotive display market for almost two decades, Himax has maintained a balanced global market share across major regions while demonstrating technological leadership and offering the industry’s most comprehensive suite of panel ICs, spanning LCD to OLED. Combined with over a decade of loyal relationships with global Tier 1 suppliers and automotive brands, these strengths help mitigate potential risks from tariffs and reinforce the long-term stability of Himax’s automotive business.

    In addition, Himax remains committed to a number of innovative fields, namely ultralow power AI, AR glasses, and co-packaged optics (CPO). Technologies in these areas are approaching maturity and offer substantial growth potential. As a pioneer and leader in key technologies enabling these novel areas, Himax is working closely with supply chain partners, from technology development through to mass production, to actively expand new business opportunities. These innovative fields are relatively less affected by macroeconomic fluctuations, and customer development efforts have not slowed due to tariff uncertainties. Himax expects these businesses to contribute meaningfully to both revenue and gross margin in the years ahead.

    Despite the volatile geopolitical environment, Himax continues to actively explore high-growth markets, establish close partnerships with industry-leading companies, and continue to expand its global footprint while developing long-term competitive advantages. In Himax’s latest cross-border cooperation the Company established a three-party strategic alliance with Powerchip and Tata Electronics, a subsidiary of Tata Group, India’s largest and most influential conglomerate. This collaboration combines Tata Electronics’ deep manufacturing and local supply chain integration strengths, Powerchip’s mature wafer manufacturing capabilities, and Himax’s leading display IC and WiseEye ultralow power AI sensing technologies to jointly create a powerful ecosystem. The collaboration echoes the “Make in India” strategy of the Indian government for high-tech areas while exploring the huge potential demand of the Indian market.

    Display Driver IC Businesses

    LDDIC

    In Q2 2025, Himax anticipates large display driver IC sales to decline by a single digit sequentially, driven by customers’ pull forward orders placed in prior quarters, against the backdrop of Chinese government subsidies boosting domestic consumption. Monitor and notebook IC sales are expected to decrease in Q2, whereas TV IC sales are set to increase sequentially, driven by higher shipments to key end customers.

    Looking ahead in the notebook sector, Himax is observing a growing trend for premium notebooks to adopt OLED displays and advanced touch features, partially fueled by the rise of AI PC. Himax is well-positioned to capitalize on this trend, offering a comprehensive range of ICs for both LCD and OLED notebooks, including DDIC, Tcon, touch controllers, and TDDI. In addition, Himax is expanding its high-speed interface product portfolio to support faster data transfer rates, lower latency, and improved power efficiency, features that are critical for next-generation displays. Himax has made progress on the next-generation eDP 1.5 display interface for Tcon for both LCD and OLED panels. This high-speed interface supports high frame rates, low power consumption, adaptive sync, and high resolution, key features essential for next-generation AI PCs. Through ongoing portfolio expansion and continuous technology innovation, Himax is well-positioned to lead in the rapidly evolving landscape of AI PCs and premium notebooks.

    SMDDIC

    Q2 small and medium-sized display driver IC business is expected to decline single-digit from the last quarter. Himax expects Q2 automotive driver IC sales, including both TDDI and traditional DDIC, to decline mid-teens sequentially, reflecting the combined impact of tariffs and the waning effect of China’s automotive subsidy program. Despite these near-term headwinds, automotive TDDI adoption continues to expand across the globe, driven by growing demand for more intuitive, interactive, and cost-effective touch panel features essential in modern vehicles. Himax’s cumulative shipments of automotive TDDI have outpaced competitors, with nearly 500 design-in projects secured to date, the majority of which have yet to enter mass production. On top of a continuous influx of new pipelines and design wins across the board, Himax is well-positioned for continued growth, further reinforcing Himax’s leadership in this space. For automotive DDIC, Himax continues to see solid shipment volume for automotive DDICs for non-touch applications including cluster displays, HUDs, and rear- and side-view mirrors. Company’s confidence is further strengthened by the growing proliferation of advanced technologies, such as LTDI (Large Touch and Display Driver Integration) in large-display car models. Himax is a pioneer in LTDI technology, which supports seamless, integrated large touch display panels, typically larger than 30 inches or spanning pillar-to-pillar across the entire width of the cockpit. LTDI also features high-density touch functionality for responsive performance, making it ideal for next-generation smart cabin designs that emphasize large displays and intuitive touch interaction. Additionally, Himax is seeing an increasing number of customers choosing to adopt its integrated LTDI and Tcon solution as the standard platform for their ultra large automotive display development. Such panels typically require four or more LTDI chips and at least one local dimming Tcon per panel. This growing platform adoption of more of Himax’s automotive IC offerings not only reflects strong customer loyalty to its technologies but also signifies an increase in content value for Himax on a per-panel basis. Multiple projects with global leading car brands are set to begin mass production starting the end of 2025. Himax continues to lead the global automotive display market, holding a 40% share in DDIC, over 50% in TDDI, and an even higher share in cutting-edge local dimming Tcon technologies.

    Himax expects Q2 smartphone IC revenues to decline mid-teens from last quarter, while tablet IC sales are poised to grow by high teens sequentially, driven by renewed demand from leading customers following several quiet quarters.

    On OLED business update. In the automotive OLED market, Himax has forged strategic alliances with leading panel makers in Korea, China, and Japan. As OLED technology expands beyond premium car models, Himax is well positioned to become the partner of choice and accelerate OLED adoption in vehicles by capitalizing on its strong presence and proven track record in automotive LCD displays. Leveraging Himax’s first mover advantage, Company offers a comprehensive suite of solutions, including DDIC, Tcon, and on-cell touch controllers. It’s worth noting that Himax’s advanced OLED on-cell touch-control technology boasts an industry-leading signal-to-noise ratio exceeding 45 dB, delivering reliable performance even under challenging operational conditions such as glove wearing or wet-finger. The solution entered mass production in 2024, and an increasing number of leading global brands are rapidly adopting it for their premium car models. Himax expects to be a key beneficiary of the shift to OLED displays for the automotive industry over the next few years, unlocking a new growth driver for Himax that further reinforces its market leadership.

    In addition, Himax has expanded its comprehensive OLED portfolio into the tablet and notebook markets, covering DDIC, Tcon, and touch controllers, through partnerships with leading OLED panel makers in Korea and China. Several new projects are slated to enter mass production with top-tier brands later this year. Meanwhile, Himax is developing value-added features, such as active stylus and gaming models to further enhance its product differentiation and competitive edge. In the smartphone OLED market, Himax is making solid progress in its collaborations with customers in Korea and China and expects mass production to start later this year.

    Non-Driver Product Categories

    Q2 non-driver IC revenues are expected to increase low teens sequentially.

    Timing Controller (Tcon)

    Himax anticipates Q2 2025 Tcon sales to increase high teens sequentially, primarily due to increased shipment of Tcon for notebook and automotive products. Automotive Tcon sales are set to increase by double digit in Q2, fueled by a strong pipeline of over two hundred design-win projects gradually entering mass production. With a steady influx of new projects, coupled with growing validation and widespread adoption of Himax’s local dimming Tcon in both premium and mainstream car models worldwide, Himax continues to maintain an unchallenged leadership position with a dominant market share. In the second quarter, Himax expects Tcon business to account for over 12% of total sales, with notable contributions from automotive Tcon. Meanwhile, head-up-display (HUD) is emerging as a major growth area within automotive displays, where local dimming Tcon adoption is accelerating. Himax’s industry-leading local dimming Tcon eliminates the “postcard effect” often seen in HUDs, caused by backlight leakage typical of conventional TFT LCD panels, delivering crisp, high‑fidelity images on the windshield. Additionally, it features advanced transparency detection to prevent the display from obstructing the driver’s view, thereby ensuring driving safety. With several HUD projects already underway and increasing inquiries, Himax is excited about the potential opportunity ahead. Himax’s automotive Tcon business is well positioned for growth over the next few years.

    WiseEye™ Ultralow Power AI Sensing

    On the update of WiseEye™ ultralow power AI sensing solution, a cutting-edge endpoint AI integration featuring industry-leading ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm. In the rapidly evolving AI landscape, WiseEye AI technology stands out for its expertise in on‑device AI, characterized by remarkably low power consumption, operating at just single‑digit milliwatts, and enabling AI functionality in battery‑powered endpoint devices. Additionally, WiseEye AI significantly extends battery life and improves overall data processing efficiency by offloading tasks from the main processor. These attributes unlock new opportunities across a wide range of everyday battery‑powered endpoint applications, evidenced by broad adoption of WiseEye AI across diverse applications, including notebooks, tablet, smart door locks, surveillance systems, access control, smart retail and many others.

    On notebook, building on the success with Dell notebooks, WiseEye AI is expanding into additional use cases across other leading notebook brands, with some entering production later this year and expanding further into 2026. The growing adoption is further fueled by the rise of AI PCs, as WiseEye’s ultralow power, on-device inference capabilities align seamlessly with the industry’s shift toward more intelligent, context-aware, and energy-efficient computing. WiseEye’s advanced local inferencing technology enables real-time, high-precision user engagement detection by analyzing presence and motion, supporting a broad set of intelligent features, such as head pose estimation, gaze tracking, facial expression recognition, voice command, adaptive screen dimming, secure identity authentication and many others. These features enhance interactivity and user comfort without compromising battery life or system performance, making it fit for the demands of high performance and energy efficient next-generation AI PCs.

    WiseEye also continues to achieve significant market success across various sectors such as smart door lock where Himax introduced the world’s first smart door lock with 24/7 sentry monitoring and real-time event recording. Himax is now expanding globally by collaborating with a number of leading door lock makers worldwide to integrate a suite of innovative AI features, including palm vein biometric access, parcel recognition, and anti-pinch protection. Several of these value-added solutions are slated for mass production later this year. WiseEye also powers smart retail, exemplified by Himax’s collaboration with E Ink on e‑Signage. Its always‑on AI detects viewer attributes, such as gender, appearance, and age, followed by real-time personalized ads and nearby product recommendations, creating immersive engagement that elevates the in‑store shopping experience.

    For an update on Himax’s WiseEye module business. Equipped with pre-trained no-code or low-code AI, WiseEye modules simplify AI integration and support diverse use cases, including human presence detection, gender and age recognition, gesture recognition, face mesh, voice commands, thermal image sensing, palm vein authentication, and people flow management. Among them, the Himax PalmVein module has generated strong engagement across several industries. Multiple design wins have been secured, with mass production underway by global customers for smart access, workforce management and smart door lock, as Himax continues to explore additional application opportunities. Meanwhile, to meet growing demand for flexible access control in varied settings, the upgraded WiseEye PalmVein suite now combines palm‑vein recognition and facial recognition with peephole‑camera input, underpinned by an advanced liveness check for high‑precision, multi‑modal authentication. This upgraded PalmVein module not only enhances security by offering multiple layers of biometric verification but also ensures adaptability across a wide range of environments. These attributes make it particularly appealing to global brands looking to differentiate their products with enhanced security, greater user convenience, and flexible customization. Himax  anticipates increasing sales contribution from WiseEye PalmVein across a diverse array of applications starting next year and are excited about its long-term growth potential. Looking ahead, WiseEye is poised to scale rapidly across the broader AIoT market and emerge as a key growth driver for Himax in the years ahead.

    Separately, Himax is bringing intelligent, ultralow power, always‑on AI sensing to AR glasses. Powered by real‑time, context‑aware AI running at single‑digit‑milliwatt, WiseEye uniquely delivers the two essentials for AR devices: instant responsiveness and all‑day battery life. These advantages have already led to WiseEye AI being adopted by a leading AR glasses platform, with ongoing engineering engagements involving several other prominent global AR tech names for their upcoming AR glasses. WiseEye supports always-on outward sensing, enabling AR glasses to detect and analyze the surrounding environment in real time. This empowers instant response and key functionality such as object recognition, navigation assistance, translation, and environmental mapping, greatly enhancing the overall AR experience. WiseEye also enables precise inward sensing, detecting subtle eye movements, gaze direction, pupil size, and blinking, providing critical data for more intuitive and natural user interactions in AR applications.

    Wafer Level Optics (WLO)

    In June 2024, Himax, in partnership with FOCI, a world leader in silicon photonics connectors, unveiled a state-of-the-art silicon photonics packaging technology, a critical technology to enable co-packaged optics (CPO) technology. This innovation of CPO integrates silicon photonic chips and optical connectors within multi-chip modules (MCM), replacing traditional metal wire transmission with high-speed optical communication. The technology significantly enhances bandwidth, boosts data transmission rates, reduces signal loss and latency, lowers power consumption, and significantly minimizes the size and cost of MCM.

    Currently, sample shipments of Company’s first-generation silicon photonics packaging solution for engineering validation and trial production are proceeding as planned, with volumes set to increase in the coming quarters. In addition, Himax continues to advance its technology roadmap in close collaboration with FOCI, top-tier AI companies, and foundry partner through the joint development of future-generation CPO solutions to meet the escalating bandwidth requirements driven by AI and HPC applications.

    Himax is pleased to see its partner, FOCI, achieving significant advancements in silicon photonics packaging, with notable improvements in automated production and testing. Together, Himax and FOCI are actively progressing in process validation and yield optimization to enable full-scale production for leading AI customers. Himax is exceptionally positioned to capitalize on future growth opportunities in high-performance computing, AI inference, and data center markets.

    Alongside the CPO progress, certain global technology leaders are now engaging Himax’s WLO expertise to develop next‑generation waveguides for AR glasses, a testament to the market’s growing confidence in Company’s WLO technology.

    With strong growth opportunities from CPO and AR glasses in the making, Himax is as optimistic as ever that its WLO business can emerge as a significant revenue and profit engine in the years ahead.

    LCoS

    On Himax’s latest advancement in LCoS microdisplay technology. At Display Week 2025 next week in San Jose, Himax will debut its ultra-luminous, miniature Dual-Edge Front-lit LCoS microdisplay. This industry-leading solution integrates both the illumination optics and LCoS panel into an exceptionally compact form factor, as small as 0.09 c.c., and weighing only 0.2 grams, while targeting up to 350,000 nits brightness and 1 lumen output at just 250mW maximum total power consumption, demonstrating unparalleled optical efficiency. The luminance breakthrough ensures excellent eye-level visibility even in bright ambient conditions, while its compact form factor enables the development of sleek, everyday AR glasses. With industry-leading compact form factor, superior brightness and power efficiency, it is ideally suited for next-generation AR glasses and head-mounted displays where space, weight, and thermal constraints are critical. Growing collaborations with leading global tech companies are underway. Himax is confident that its technological advancements will help revitalize the AR glasses market, drive its expansion, and unlock new possibilities for immersive visual experiences.

    Second Quarter 2025 Guidance  
    Net Revenue: Decline 5.0% to Increase 3.0% QoQ
    Gross Margin: Around 31.0%, depending on final product mix
    Profit: 8.5 cents to 11.5 cents per diluted ADS
       

     

    HIMAX TECHNOLOGIES FIRST QUARTER 2025 EARNINGS CONFERENCE CALL 
    DATE: Thursday, May 8, 2025
    TIME: U.S.       8:00 a.m. EDT
      Taiwan  8:00 p.m.
       
    Live Webcast (Video and Audio): http://www.zucast.com/webcast/tUOBrqcV
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    Dial-in Number (Audio Only):  
      Taiwan Domestic Access 02-3396-1191
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    Participant PIN Code: 3300508 #  

    If you choose to attend the call by dialing in via phone, please enter the Participant PIN Code 3300508 # after the call is connected. A replay of the webcast will be available beginning two hours after the call on www.himax.com.tw. This webcast can be accessed by clicking on this link or Himax’s website, where it will remain available until May 8, 2026.

    About Himax Technologies, Inc.
    Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company’s display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company’s industry-leading WiseEyeTM Ultralow Power AI Sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Germany, and the US. Himax has 2,603 patents granted and 389 patents pending approval worldwide as of March 31, 2025.

    http://www.himax.com.tw

    Forward Looking Statements
    Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those risks identified in the section entitled “Risk Factors” in its Form 20-F for the year ended December 31, 2024 filed with the SEC, as may be amended.

    Company Contacts:
      
    Karen Tiao, Head of IR/PR
    Himax Technologies, Inc.
    Tel: +886-2-2370-3999
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw

    Mark Schwalenberg, Director
    Investor Relations – US Representative
    MZ North America
    Tel: +1-312-261-6430
    Email: HIMX@mzgroup.us
    www.mzgroup.us

    -Financial Tables-

    Himax Technologies, Inc.
    Unaudited Condensed Consolidated Statements of Profit or Loss
    (These interim financials do not fully comply with IFRS because they omit all interim disclosure required by IFRS)
    (Amounts in Thousands of U.S. Dollars, Except Share and Per Share Data)
     
      Three Months
    Ended March 31,
      3 Months
    Ended
    December 31,
       2025    2024   2024
               
    Revenues          
    Revenues from third parties, net $ 215,095     $         207,544     $ 237,182  
    Revenues from related parties, net           38               6               41  
                215,133               207,550               237,223  
               
    Costs and expenses:          
    Cost of revenues           149,581               146,805               164,963  
    Research and development           34,987               39,664               37,584  
    General and administrative           5,557               5,890               5,711  
    Sales and marketing           5,202               5,162               5,886  
    Total costs and expenses           195,327               197,521               214,144  
               
    Operating income           19,806               10,029               23,079  
               
    Non operating income (loss):          
    Interest income           2,312               2,524               2,042  
    Changes in fair value of financial assets at fair value through profit or loss           (17 )             (7 )             1,245  
    Foreign currency exchange gains, net           345               941               690  
    Finance costs           (903 )             (1,018 )             (964 )
    Share of losses of associates           (742 )             (221 )             (360 )
    Other gains           3,205               –               –  
    Other income           17               29               60  
                4,217               2,248               2,713  
    Profit before income taxes           24,023               12,277               25,792  
    Income tax expense           3,841               –               761  
    Profit for the period           20,182               12,277               25,031  
    Loss (profit) attributable to noncontrolling interests           (195 )             221               (423 )
    Profit attributable to Himax Technologies, Inc. stockholders $         19,987     $         12,498     $         24,608  
               
    Basic earnings per ADS attributable to Himax Technologies, Inc. stockholders $         0.114     $         0.072     $         0.141  
    Diluted earnings per ADS attributable to Himax Technologies, Inc. stockholders $         0.114     $         0.071     $         0.140  
               
    Basic Weighted Average Outstanding ADS           174,913               174,724               175,008  
    Diluted Weighted Average Outstanding ADS           175,072               175,026               175,146  
                           
    Himax Technologies, Inc.
    IFRS Unaudited Condensed Consolidated Statements of Financial Position
    (Amounts in Thousands of U.S. Dollars)
     
      March 31,
    2025
      March 31,
    2024
      December 31,
    2024
    Assets          
    Current assets:          
    Cash and cash equivalents $         275,445     $         261,702     $         218,148  
    Financial assets at amortized cost           2,286               14,334               4,286  
    Financial assets at fair value through profit or loss           3,253               1,380               2,140  
    Accounts receivable, net (including related parties)           217,549               212,326               236,813  
    Inventories           129,867               201,872               158,746  
    Income taxes receivable           717               1,003               726  
    Restricted deposit           503,700               453,000               503,700  
    Other receivable from related parties           11               136               13  
    Other current assets           37,760               60,051               43,471  
    Total current assets           1,170,588               1,205,804               1,168,043  
    Financial assets at fair value through profit or loss           23,524               21,635               23,554  
    Financial assets at fair value through other
    comprehensive income
              29,985               1,889               28,226  
    Equity method investments           8,061               3,173               8,571  
    Property, plant and equipment, net           120,538               128,938               121,280  
    Deferred tax assets           20,872               10,440               21,193  
    Goodwill           28,138               28,138               28,138  
    Other intangible assets, net           619               851               636  
    Restricted deposit           30               31               31  
    Refundable deposits           215,271               221,886               221,824  
    Other non-current assets           17,854               20,728               18,025  
                464,892               437,709               471,478  
    Total assets $         1,635,480     $ 1,643,513     $         1,639,521  
    Liabilities and Equity          
    Current liabilities:          
    Short-term unsecured borrowings $         602     $         –     $         –  
    Current portion of long-term unsecured borrowings           6,000               6,000               6,000  
    Short-term secured borrowings           503,700               453,000               503,700  
    Accounts payable (including related parties)           105,610               117,234               113,203  
    Income taxes payable           12,785               11,071               9,514  
    Other payable to related parties           –               92               –  
    Contract liabilities-current           5,176               14,739               10,622  
    Other current liabilities           50,443               116,558               63,595  
    Total current liabilities           684,316               718,694               706,634  
    Long-term unsecured borrowings           27,000               33,000               28,500  
    Deferred tax liabilities           557               499               564  
    Other non-current liabilities           7,489               14,823               7,496  
                35,046               48,322               36,560  
    Total liabilities           719,362               767,016               743,194  
    Equity          
    Ordinary shares           107,010               107,010               107,010  
    Additional paid-in capital           115,722               114,982               115,376  
    Treasury shares           (5,546 )             (5,157 )             (5,546 )
    Accumulated other comprehensive income           7,874               (94 )             8,621  
    Retained earnings           684,587               653,007               664,600  
    Equity attributable to owners of Himax Technologies, Inc.           909,647               869,748               890,061  
    Noncontrolling interests           6,471               6,749               6,266  
    Total equity           916,118               876,497               896,327  
    Total liabilities and equity $         1,635,480     $ 1,643,513     $         1,639,521  
                           
    Himax Technologies, Inc.
    Unaudited Condensed Consolidated Statements of Cash Flows
    (Amounts in Thousands of U.S. Dollars)
        Three Months
    Ended March 31,
      Three Months Ended
    December 31,
         2025     2024     2024
                 
    Cash flows from operating activities:            
    Profit for the period   $         20,182     $         12,277     $         25,031  
    Adjustments for:            
    Depreciation and amortization             5,156               5,471               5,564  
    Share-based compensation expenses             100               358               103  
    Losses (gains) on disposals of property, plant and equipment, net             (3,205 )             –               4  
    Changes in fair value of financial assets at fair value through profit or loss             17               7               (1,245 )
    Interest income             (2,312 )             (2,524 )             (2,042 )
    Finance costs             903               1,018               964  
    Income tax expense             3,841               –               761  
    Share of losses of associates             742               221               360  
    Inventories write downs             4,444               4,353               4,037  
    Unrealized foreign currency exchange losses (gains)             441               (868 )             (159 )
                  30,309               20,313               33,378  
    Changes in:            
    Accounts receivable (including related parties)             13,083               15,704               (27,302 )
    Inventories             24,435               11,083               29,675  
    Other receivable from related parties             2               (67 )             9  
    Other current assets             (978 )             2,298               2,502  
    Accounts payable (including related parties)             (7,250 )             13,202               (7,706 )
    Other payable to related parties             –               (20 )             1  
    Contract liabilities             735               1,192               6  
    Other current liabilities             (3,763 )             (7,780 )             2,508  
    Other non-current liabilities             71               514               71  
    Cash generated from operating activities             56,644               56,439               33,142  
    Interest received             438               854               3,513  
    Interest paid             (835 )             (936 )             (1,047 )
    Income tax paid             (200 )             391               (191 )
    Net cash provided by operating activities             56,047               56,748               35,417  
                 
    Cash flows from investing activities:            
    Acquisitions of property, plant and equipment             (5,221 )             (2,699 )             (3,222 )
    Acquisitions of intangible assets             (52 )             (118 )             –  
    Acquisitions of financial assets at amortized cost             –               (2,439 )             (2,286 )
    Proceeds from disposal of financial assets at amortized cost             2,000               500               10,289  
    Acquisitions of financial assets at fair value through profit or loss             (6,160 )             (7,488 )             (6,807 )
    Proceeds from disposal of financial assets at fair value through profit or loss             5,017               8,163               3,722  
    Acquisitions of financial assets at fair value through other comprehensive income             (2,500 )             –               –  
    Acquisition of a subsidiary, net of cash paid             –               –               (5,416 )
    Proceeds from capital reduction of investment             –               –               338  
    Acquisitions of equity method investment             –               –               (1,236 )
    Decrease (increase) in refundable deposits             10,283               22,217               (8 )
    Net cash provided by (used in) investing activities             3,367               18,136               (4,626 )
                 
    Cash flows from financing activities:            
    Purchase of treasury shares             –               –               (832 )
    Prepayments for purchase of treasury shares             –               –               (2,168 )
    Proceeds from issuance of new shares by subsidiaries             –               71               –  
    Proceeds from short-term unsecured borrowings             612               –               –  
    Repayments of long-term unsecured borrowings             (1,500 )             (1,500 )             (1,500 )
    Proceeds from short-term secured borrowings             484,300               447,100               461,400  
    Repayments of short-term secured borrowings             (484,300 )             (447,100 )             (461,400 )
    Payment of lease liabilities             (1,448 )             (1,148 )             (1,340 )
    Guarantee deposits received (refunded)             –               (1,868 )             219  
    Net cash used in financing activities             (2,336 )             (4,445 )             (5,621 )
    Effect of foreign currency exchange rate changes on cash and cash equivalents             219               (486 )             (1,161 )
    Net increase in cash and cash equivalents             57,297               69,953               24,009  
    Cash and cash equivalents at beginning of period             218,148               191,749               194,139  
    Cash and cash equivalents at end of period   $         275,445     $         261,702     $         218,148  
                 

    The MIL Network

  • MIL-OSI: Himax Technologies, Inc. Declares Cash Dividend for FY2024

    Source: GlobeNewswire (MIL-OSI)

    TAINAN, Taiwan, May 08, 2025 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (Nasdaq: HIMX) (“Himax” or “Company”), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, today declared a cash dividend of 37.0 cents per ADS, equivalent to 18.5 cents per ordinary share, for the year of 2024.

    The cash dividend will be payable on July 11, 2025 to all the shareholders of record as of June 30, 2025. The ADS book will be closed for issuance and cancellation from June 23, 2025 to June 30, 2025. Typically, Himax pays out its yearly dividend at approximately the middle of its current calendar year based on the Company’s previous year financial performance.

    “Since our IPO in 2006, we have consistently rewarded shareholders for their ongoing commitment with our dividend policy,” said Mr. Jordan Wu, President and Chief Executive Officer of Himax. “This year we are pleased to declare an annual cash dividend of 37.0 cents per ADS, representing a payout ratio of 81.1% of last year’s profit. Himax will continue to focus on maintaining a healthy balance sheet while driving sustainable long-term growth to deliver value for our shareholders through high dividends and share repurchases,” concluded Mr. Wu.

    About Himax Technologies, Inc.

    Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company’s display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company’s industry-leading WiseEyeTM Ultralow Power AI Sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Germany, and the US. Himax has 2,603 patents granted and 389 patents pending approval worldwide as of March 31, 2025.

    http://www.himax.com.tw

    Forward Looking Statements

    Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those risks identified in the section entitled “Risk Factors” in its Form 20-F for the year ended December 31, 2024 filed with the SEC, as may be amended.

    Company Contacts:
      
    Karen Tiao, Head of IR/PR
    Himax Technologies, Inc.
    Tel: +886-2-2370-3999
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw

    Mark Schwalenberg, Director
    Investor Relations – US Representative
    MZ North America
    Tel: +1-312-261-6430
    Email: HIMX@mzgroup.us
    www.mzgroup.us

    The MIL Network

  • MIL-OSI USA: Dave Gallagher Named 11th Director of JPL as Laurie Leshin Steps Down

    Source: NASA

    Laurie Leshin has decided to step down as director of NASA’s Jet Propulsion Laboratory on Sunday, June 1. David Gallagher, who has been serving as the Lab’s associate director for Strategic Integration, has been selected by Caltech to lead the federally funded research and development center. Caltech manages JPL for NASA.
    A distinguished geochemist, Leshin was named by Caltech to lead the lab in early 2022. Her career has spanned academia and senior positions at NASA. Several NASA missions managed by JPL have launched under her leadership, including EMIT, SWOT, Psyche, PREFIRE, Europa Clipper, and SPHEREx, with the NASA-Indian Earth satellite NISAR set for a June launch. In addition, JPL has advanced the development of NASA’s asteroid-hunting NEO Surveyor mission as well as the trio of CADRE lunar rovers, and it delivered the Coronagraph Instrument, a technology demonstration with NASA’s forthcoming Roman Space Telescope.
    “I am proud of the many things JPL has accomplished over the past three years,” said Leshin. “In addition to the long list of missions that have launched or moved toward launch during that time, we saved Voyager more than once and flew into history on Mars with Ingenuity. We have made more amazing scientific discoveries than I can name, including finding potential ancient Martian biomarkers with Perseverance. And we’ve driven the forefront of technology on Earth and in space. I know those achievements will continue under Dave’s capable leadership.”
    Leshin, who has also served as Caltech vice president, is stepping down for personal reasons and will remain a Bren Professor of Geochemistry and Planetary Science at Caltech.
    “While we respect Laurie’s decision to step away from her leadership position at JPL, we will miss her drive, compassion, and dedication,” Caltech President Thomas Rosenbaum said. “At the same time, we are grateful to Dave Gallagher for his devotion to JPL and his continuing leadership and partnership going forward. Dave’s experience working across multiple government and private sector entities will help secure ongoing support for America’s agenda in space, with JPL continuing to play an essential role.”
    Gallagher will draw on his deep experience at JPL to lead the lab into the future. He arrived at JPL 36 years ago, in 1989, and went on to hold numerous leadership positions. Along with having served as the director and deputy director for Astronomy, Physics, and Space Technology, he was manager of JPL’s Advanced Optical Systems Program Office. An electrical engineer, Gallagher also managed the Spitzer Space Telescope and, among other roles, led the team that built and tested the Wide Field/Planetary Camera 2 (WF/PC-2) — a critical instrument that corrected the spherical aberration on NASA’s Hubble Space Telescope.
    “Laurie has made a significant impact on energizing and focusing the lab, guiding it back on track after the Covid-19 pandemic. I wish her great success in this next chapter of her career, and I look forward to a very smooth transition at the lab,” said Gallagher. “We have exciting opportunities ahead helping to advance our nation’s space agenda and a fantastic team to help realize them.”
    Founded by Caltech faculty and students in 1936, JPL has been managed by Caltech on behalf of NASA since 1958.
    News Media Contacts
    Matthew Segal / Veronica McGregorJet Propulsion Laboratory, Pasadena, Calif.818-354-8307 / 818-354-9452matthew.j.segal@jpl.nasa.gov / veronica.c.mcgregor@jpl.nasa.gov

    MIL OSI USA News

  • MIL-OSI New Zealand: Speech to TRENZ 2025

    Source: NZ Music Month takes to the streets

    Tēnā koutou, tēnā koutou, tēnā koutou katoa.

    Thank you for welcoming me here today, and for that lovely introduction from Rebecca Ingram from Tourism Industry Aotearoa.

    I appreciate the great working relationships I have across the tourism sector and how we are united in wanting the best for our country.

    It’s wonderful to be back in Rotorua – one of New Zealand’s best-known and best-loved tourism destinations.

    Rotorua is actually the birthplace of New Zealand tourism.

    In the 19th century, intrepid international tourists took a 75-day sea voyage from Britain to New Zealand, followed by a 200km steam train trip from Auckland to Tauranga, followed by a horse-drawn carriage ride to Lake Rotomahana via Rotorua (a distance over 100kms). All in pursuit of the famous pink and white geothermal terraces.

    Once there, they were greeted by New Zealand’s first tour guides. Māori women from Rotorua’s local iwi Te Arawa demonstrated fantastic entrepreneurial spirit, not only by warmly welcoming these tourists but by developing businesses out of showing them what was then known as the “eighth wonder of the world”.

    While the terraces were lost in a volcanic eruption in 1886, Rotorua’s geothermal attractions remain world-class. And its people remain some of the world’s best and most hospitable tourism operators.

    I urge you to take the opportunity to experience all the amazing tourism experiences that Rotorua has to offer while you are here.

    I was in Europe last week talking trade and security with our partners and also attending the Pope’s funeral, and I heard from people all around the world about how much they want to come visit New Zealand. 

    I can’t wait to work with all of you in the room today to welcome them here to experience all New Zealand has to offer.

    Before we start, I would also like to thank the Premier Sponsor Air New Zealand and Tourism New Zealand, as well as all the prestigious event partners and organisers for bringing us all together and make TRENZ possible.

    A special thanks to those who have travelled from overseas to understand and experience our tourism offerings. Your participation is essential to the success of TRENZ.

    Context of TRENZ

    Tourism is about people-to-people connection, and it is fantastic to welcome both the buyers and sellers to TRENZ.

    As an industry, you should feel proud of your achievements in rebuilding our tourism sector and making such a huge contribution to our economy as a major employer and innovator.

    You are our global ambassadors for New Zealand. And you foster thriving communities to live and work in.

    We value you and the work you do enormously.

    Importance of tourism to the New Zealand economy

    Our Government is obsessed with economic growth because it is the only way Kiwis get higher incomes, more money in their pockets, more jobs, a future for their kids and grandkids, and better public services like health and education.

    We can achieve this by playing to our strengths. New Zealanders are famous for our innovation and creativity – as demonstrated by those early Te Arawa tour guides. And we are also home to some of the most breathtaking scenery in the world. Snow-capped mountains and fjords, golden sandy beaches, subtropical forests, and volcanic plateaus.

    Mix those ingredients together and you have a recipe for world class tourism experiences.

    So, it’s no wonder that tourism is a lynchpin of our economy.

    Domestic and international tourism expenditure is now worth over $44 billion annually. Tourism contributed 7.5 per cent of New Zealand’s GDP and it continues to be our second highest export.

    More than four in five New Zealand residents (82 per cent of us) benefited from tourism activity in their local area last year. 

    But we have room for more.

    Last year, we welcomed over 3 million visitors to our country.

    Which is a 12 per cent increase on the previous year, but still fewer than pre-Covid.

    There is plenty of capacity for more international tourists to visit our shores.

    There is also more capability and opportunities to provide more premium attractions and experiences. This doesn’t necessarily mean more expensive – it means more high-value.

    As good as our recent growth has been, globally we are middle of the pack in terms of the productivity per capita, which is measured by total value of tourism divided by the number of people working in it.

    If we push ourselves and get into the top 10 per cent of the most productive tourism markets in the world, we can generate another $9 billion in value for the industry.

    I hope that provides you with the motivation you need to keep innovating and keep investing in your businesses and tourism experiences. 

    Because tourism is a competitive market, and our job is to make sure we’re at the top of people’s lists and that we are converting desire to travel into reality.

    Broader benefits of tourism

    Welcoming more visitors here means more full tables in our restaurants, more bookings for our local accommodation providers, and more people visiting our regions and attractions. 

    But it’s not just businesses that are directly connected to the industry that benefit from tourism. The benefits of tourism filters into so many aspects of our society and economy.

    I have already mentioned our beautiful natural environment which is the backdrop of so much tourism in New Zealand. 

    One of New Zealand’s great success stories has been our efforts to eradicate invasive pests which damage our environment. We are now world leaders in pest eradication and have developed technologies and methods which we export to the world. But our success is partly thanks to eco-tourism, which provides us with the commercial incentive and revenue needed to undertake conservation work.

    Great examples of this virtuous cycle exist right here in Rotorua. Rotorua Canopy Tours provides visitors with an exhilarating experience of ziplining through ancient, native forest and it helps fund local conservation efforts.

    Reasons like this are why we are rolling out the red carpet and making it easier than ever for the world to visit our beautiful country.

    Removing barriers and growing tourism

    We’re at a pivotal moment where bold, decisive actions are essential to reignite our tourism industry and propel it back to the heights of 2019—and beyond. 

    The Government is fully committed to this mission. 

    We have already invested more than $20 million in a Tourism Boost package and will shortly be launching the Tourism Growth Roadmap. 

    These investments are not just steps; they’re leaps forward in our broader Going for Growth strategy. We’re not just aiming to recover—we’re aiming to thrive.

    I know our Minister for Tourism and Hospitality, Louise Upston, has been working hard to identify ways we can boost international tourism in the short-term. 

    Last month, we announced over $13 million for Tourism New Zealand to further bolster our international marketing. 

    Our Government is also committed to enhancing airline connectivity, recognising that it’s the lifeline to strengthening our global ties and boosting tourism and trade.

    We are working hard to build better airline connectivity with important emerging markets such as India. When in India recently, I was proud to witness the signing of a MoU between Air New Zealand, Tourism New Zealand and Air India to encourage commencement of direct (non-stop) flight operations between the two countries.

    We’ve also relaxed our visitor visa rules to accommodate the modern traveller. Digital nomads can now work remotely for their overseas employers while exploring New Zealand.

    Our visa process is becoming more efficient too. In 2024, the average visitor visa was approved in only 7 working days, which was 2 days faster than in 2023. This means people can plan their New Zealand adventure with confidence, knowing that we’re here to make your journey as smooth as possible.

    And here’s more good news: the majority of visitors do not need a visa to come here and instead can travel on a New Zealand electronic Travel Authority, which are processed within 72 hours. And, we have visa waiver arrangements with 60 countries, which is more than most of our comparator countries.

    We pride ourselves on our user-friendly immigration and border services, ensuring the arrival is as welcoming as our stunning landscapes. We are open for visitors, and we continue to offer stability, consistency, and transparency in our offerings.

    Conclusion

    In closing, I want to thank you. Thank you for your passion and resilience and for the incredible experiences you offer visitors. Thank you again Kerry, Bex, and TIA. 

    2025 is our chance to strengthen the value of tourism and drive New Zealand to be a humming, vibrant country. Together we can continue our work on being a resilient and prosperous sector that provides high-quality experiences and services.

    But we have to be bold. 

    Let’s continue to push our boundaries to ensure that New Zealand remains a world leader. 

    Keep up the great work, I look forward to talking with more of you throughout the event.

    MIL OSI New Zealand News

  • MIL-OSI USA: Ranking Member Hoyer Remarks at U.S. Department of the Treasury Oversight Hearing

    Source: United States House of Representatives – Congressman Steny H Hoyer (MD-05)

    WASHINGTON, DC – Today, Congressman Steny Hoyer (MD-05), Ranking Member of the House Appropriations Subcommittee on Financial Services and General Government (FSGG), delivered the following remarks at the subcommittee’s oversight hearing on the Department of the Treasury:

    Click here to watch a full video of his remarks.
     

    “Thank you very much, Mr. Chairman, and welcome, Mr. Secretary. This is our first substantive hearing dealing with the devastating actions that the Trump Administration has taken in the first three months of 2025 – actions planned and predicted by Project 2025. I look forward to having more such hearings with other agencies under our jurisdiction – especially the principals of DOGE, OMB, GSA, and OPM, which are having such a profoundly negative impact on our country.

    “What we’ve seen in the first 100 days of this administration is unprecedented, and – so the polls tell us – disturbing to the American people. An irresponsible, incoherent tariff policy has plunged the Americans and global economies into chaos. These past three months, the American economy shrank for the first time since the final days of the pandemic. The stock market fell more in the first 100 days of the Trump Administration than in the first 100 days of any presidency in the past half century. Consumer confidence is [at its] lowest since May of 2020 – the height of Covid-19. That uncertainty has also rattled the bond market, with investors dangerously starting to doubt the full faith and credit of the United States.

    “Most importantly, Americans are hurting. Families see their costs going up. Retirees watch their life savings losing value. Small business owners and farmers risk going under as they struggle to navigate ever-changing tariffs. Our economy is in chaos and so, I think, is our government.

    “Donald Trump, Russell Vought, and Elon Musk are orchestrating an illegal purge of our federal employees. They clearly had a lot of ideas on how to remove these people and dismantle these programs as quickly as possible. Sadly, they had no clue, in my view, as to the devastating consequences of their actions on our country, our government, our allies, and the professionals we rely on to serve the American people.

    “I am particularly concerned about the Internal Revenue Service, which has been severely understaffed and underfunded for decades. So far, the Trump Administration has forced the IRS to cut as many as 11,443 employees – or over 11 percent of its staff. That includes 6,700 workers who were fired at the height of this most recent tax season. Now, the administration is planning to reduce the IRS workforce, I understand, by another 40,000 jobs – or 40 percent. That includes up to half of IRS enforcement staff. Additionally, Trump’s 2026 budget cuts funding for the IRS by 20 percent. These actions at IRS, in my view, and every other government office, have bludgeoned morale, destroyed efficiency, and increased waste.

    “Cutting back on IRS enforcement makes it easier for the wealthiest individuals and corporations to cheat on their taxes and get out of paying what they owe. That, of course, increases what others pay and explodes the deficit. As the President and Congressional Republicans undermine the ability to enforce our existing tax code, they are also pursuing massive tax cuts for the wealthiest among us.

    “Furthermore, DOGE operatives are rifling through IRS databases that contain Americans’ sensitive information, including their financial history, Social Security numbers, immigration status, and more. The story is the same across the federal government. Americans are reeling from this uncertainty in their economy and in their government. They need answers. More than that, they need an adult in the room. That is the role, I hope, the Treasury Department plays – and Mr. Secretary, in particular, yourself.

    “The economy and markets do not lie. We all depend on the Treasury Secretary to communicate clearly and transparently to the President, the Congress, the American people, and, indeed, the world. I’ve mentioned tariffs and the IRS, but I’m also eager to hear, Mr. Secretary from you about our economic approach to the Russian-Ukraine war – especially in light of last week’s mineral deal and recent questions about our sanctions regime on Russia.

    “Former Secretary Mnuchin – whom I believe you know, sir – and I disagreed on some things, but we still found ways to work in a bipartisan fashion to inspire confidence in the economy. Mr. Secretary, I look forward to doing the same with you. Thank you, Mr. Chairman.”

    MIL OSI USA News

  • MIL-Evening Report: Why is hospital parking so expensive? Two economics researchers explain

    Source: The Conversation (Au and NZ) – By Lisa Farrell, Professor of Economics (Health Economist), RMIT University

    ThirtyPlus/Shutterstock

    Imagine having to pay A$39 dollars a day to park your car while visiting your sick child in hospital.

    For families already struggling in a cost-of-living crisis, hospital parking fees are not just another expense. They can be a financial barrier to supporting loved ones in their most vulnerable moments.

    Hospital parking is a big revenue earner. In New South Wales, public hospitals collected almost $51.7 million in parking fees in 2024. That was up from $30.2 million in 2023.

    It may be tempting to view hospital parking fees as exploiting a captive market. But the reality is much more complex.

    It involves urban economics, pressures on health-care funding and competing demands for limited space, often in busy city centres.

    Let’s start with supply and demand

    Basic economics tells us that price is the mechanism for balancing supply and demand. This is known as the equilibrium price. If demand is greater than supply, the price rises. So for urban hospitals, where parking spaces are limited, this scarcity creates market conditions that, not surprisingly, drive up prices.

    But economics also tells us that if there’s still demand for parking despite the price, then under some circumstances suppliers can charge more than the equilibrium price. Put simply, this “inelastic demand” means it is possible to charge more to a captive audience.



    You could certainly argue hospital patients and visitors are a captive audience. While many hospitals are well serviced by public transport, hospital patients and visitors are often too sick or time-poor to use it. So they have little choice than to pay for parking. For rural hospitals, there is limited or no public transport, so visitors have to drive.

    So are hospitals taking advantage of the inelastic demand for parking? Are they price gouging – setting prices above what is considered reasonable or fair? Or are there reasons for setting such high prices?

    Location, location, location

    Car parks of hospitals in prime locations are not just attractive to hospital patients and visitors. They’re also attractive to other users, such as those working in the city or sightseeing. High parking fees deter these users, ensuring spaces are available for hospital users.

    High prices prevent hospital users from overstaying. This prevents them doing non-hospital activities (such as shopping) after their hospital appointment or visits and before returning to their cars.

    Hospitals also charge high prices to raise revenue for health care. In a statement to the ABC earlier this year, NSW Health said extra money raised from parking is reinvested into health services and facilities.

    Hospitals are often in prime locations, such as Royal Prince Alfred Hospital in Sydney’s inner west.
    Rose Marinelli/Shutterstock

    But it makes sense to encourage visitors

    However, raising parking fees to support hospital budgets could be a false economy. We know hospital visitors have an important role in patients’ recovery times. So if high parking costs deter visitors or carers, this could lead to longer hospital stays for their loved ones.

    Cheaper parking might allow for more visiting, leading to shorter hospital stays and significant cost savings per patient.

    I (Lisa) had firsthand experience of this when my elderly father with dementia was admitted to hospital recently. The hospital allowed 24/7 visitor access for carers (in this case, my mother) and free hospital parking. Access 24/7 is important for patients with dementia who are often disorientated in hospital. This disorientation is typically worse in the evening (known as sundowning).

    Having carers present meant staff could focus on medical issues. It facilitated visits outside normal visiting hours (when dementia patients typically need the extra support) and when the demand for parking spaces is lower.

    Visitors are great for patients’ wellbeing and help their recovery. So we want to encourage them.
    DC Studio/Shutterstock

    Who needs cheap parking?

    High parking prices reflect the high demand for a fixed supply of parking spaces that are rationed to those most willing to pay (those with the income). But a better solution is to ration according to need (that is, to boost patient wellbeing).

    The economics solution is to charge different users different prices. Most hospitals do this already by offering concessions. But concessions can differ by hospital or state. Not everyone knows concession-rate parking is available, and it can be hard for some people to find out if they qualify.

    So if you are concerned about the cost of hospital parking, know the fees and available concessions before you park. You can find this on most hospitals’ websites.

    Currently, concessions are generally based on income (including the possession of a concession card). But we need a greater shift towards providing concession rates based on need. For example those visiting long-stay patients clearly need concessions to support patient wellbeing.

    A media campaign has called for a national cap on hospital parking costs for frequent users.

    Most car parks have a daily limit but frequent users can soon accumulate large bills over weeks or months of hospital visits. For many patients, particularly those requiring frequent treatments such as dialysis, parking costs accumulate annually.

    For people having frequent treatments, such as dialysis, parking costs can add up over the years.
    ainata/Shutterstock

    How could we make things cheaper and fairer?

    We need to apply concession rates to hospital visitors on the basis of need, not just income. Need should be informed by patient wellbeing and the importance of visitors to the healing process.

    We need a consistent set of rules across hospitals about concession-rate parking. This would simplify the process for hospital car park users.

    We also need to look at longer-term solutions. When expanding hospitals or planning new ones, we can consider transitioning away from prime locations. This would help make parking less attractive to non-hospital users.

    The challenge for health-care systems is balancing operational necessity of recovering costs with the ethics of equity and access that prevent necessary care.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    ref. Why is hospital parking so expensive? Two economics researchers explain – https://theconversation.com/why-is-hospital-parking-so-expensive-two-economics-researchers-explain-255716

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Russia: Steering through the Fog: The Art and Science of Monetary Policy in Emerging Markets

    Source: IMF – News in Russian

    (As prepared for delivery)

    May 7, 2025

    Good afternoon. It is a pleasure to be with you here at this critical juncture for the global economy. Since early April, the US effective tariff rate has increased to levels last seen over a hundred years ago, and the uncertainty surrounding trade policy and geopolitics has surged.

    The economic effects of these developments are expected to be sizeable. Our World Economic Outlook ‘reference scenario’ projects that tariffs will reduce both global and emerging market (EM) output growth by roughly 0.5 percentage points relative to our forecast prior to the April tariffs. Countries imposing high tariffs, or those that are heavily dependent on trade with those countries, will be hit the hardest. But no country is likely to emerge unscathed: we have downgraded our forecasts for 127 countries that account for 86 percent of global GDP.

    The impact on inflation is more varied. For countries facing higher tariffs on their exports, the tariffs are expected to mainly operate as a negative demand shock and exert mild downward pressure on inflation.  For countries imposing much higher tariffs, notably the United States, the tariffs will likely act more as an adverse supply shock, boosting inflation while lowering growth.

    There are several reasons why economic outcomes could be much worse than our WEO reference scenario. As of now financial conditions have not tightened much, including in emerging markets, and many EM currencies have remained surprisingly resilient against the dollar. If, however, trade policy discussions do not yield lower tariffs soon, financial conditions could tighten abruptly, with major effects on capital flows to EMs.  Knightian uncertainty abounds as the global economic order transforms. How should central banks in emerging markets steer through this fog? I will address this question in today’s lecture.

     

    EM central banks have developed much stronger monetary policy frameworks since the late 1990s, often in the context of adopting inflation targeting. They have benefited from major improvements in governance, with clear mandates focused on price stability.  Their operational independence has also increased substantially — both de jure and de facto — and they have strengthened their public accountability, as well as transparency. These advancements were invaluable in helping them respond quickly both to COVID and to the subsequent inflation surge, raising interest rates sharply in the latter case to contain inflation and keep inflation expectations anchored.

    Even so, significant differences remain between EMs and AEs, especially regarding the strength of the exchange rate channel and the degree to which global factors influence monetary transmission. Several features deserve particular attention: 

    Transmission of policy actions and shocks differs in EMs

    First, monetary policy transmission appears noticeably weaker in EMs than in AEs, and dependent both on global financial conditions and on the reliance of EM banks on external financing. In advanced economies, an easing of policy rates quickly translates into lower market rates — which is what matters for the borrowing decisions of households and firms — and this boosts the economy.

    By contrast, my research with Sebnem Kalemli-Özcan and Pierre De Leo (De Leo, Gopinath and Kalemli-Özcan, 2024) shows that when EM central banks loosen policy, the transmission to short-term market rates depends critically on what happens to global financial conditions. If global financial conditions tighten enough – as often follows a surprise tightening in US monetary policy – then domestic market rates may even rise when the EM central bank lowers policy rates.  The implicit rise in the risk spread facing borrowers clearly blunts the effectiveness of monetary policy and makes it harder for EMs to cushion the effects of shocks. This is particularly relevant at the current juncture where trade shocks could play out as negative demand shocks in many EMs, calling for looser monetary policy. At the same time, they could play out as negative supply shocks in the US and call for tighter US monetary policy.

    The changing mix of EM external financing also raises new vulnerabilities. EMs have become more dependent on external financing from foreign nonbank financial institutions, including insurance companies and investment funds, with their share of external portfolio financing growing to about 40 percent. While nonbanks help diversify emerging market funding sources and reduce borrowing costs, these types of capital flows are also very sensitive to the global financial cycle.[1] At times of financial stress, investment funds—such as exchange traded funds and open-end mutual funds in particular—are more susceptible to investors withdrawing their money, which in turn causes investment funds to withdraw from the riskiest markets.  Consequently, the volume and speed of exit of capital flows have increased over time, as was evident at the start of Covid-19.

    This sensitivity of EMs to global stress may also increase given that crypto assets are playing a larger role in cross-border financial intermediation and payments, often spurred by the desire to achieve cost-efficiencies, but also to circumvent capital flow restrictions in some cases.  In most EMs, crypto asset use doesn’t yet appear high enough to present imminent systemic risks.  Even so, crypto assets are growing rapidly in many EMs, and overall usage has become a noticeable share of GDP in some EMs with high inflation and lower macroeconomic stability. For example, Cerutti, Chen and Hengge (2024) find that several EMs in Latin America and Eastern Europe fall in the upper quartile of countries in terms of the magnitude of their bitcoin inflows as a share of GDP, with monthly inflows in the range of 0.1 to 0.8% of GDP. Focusing on a wider set of crypto assets, Cardozo, Fernández, Jiang and Rojas (2024) find that cross-border crypto outflows have reached as much as a quarter of gross portfolio outflows in Brazil.

    Use of crypto requires a careful understanding of the risks.  Crypto may increase capital flow volatility and exacerbate financial stress, including by allowing investors to easily shift their deposits out of domestic banks into foreign exchange-denominated stablecoins.  If crypto flows grow large enough, such disintermediation from the banking system and associated capital outflows could cause financial conditions to tighten and the exchange rate to weaken, and potentially spur a significant economic downturn.

    Weaker policy credibility complicates monetary policy trade-offs

    A second difference between AEs and EMs is the relatively weaker credibility of EM monetary policy to deliver low inflation. While EMs have improved their frameworks substantially, inflation expectations still tend to be less well-anchored than in AEs. Consequently, there is a higher passthrough of cost shocks to inflation, as they feed through much more into inflation expectations as well as through other channels such as wage indexation.  Oil price shocks tend to impact core inflation more than twice as strongly in a sample of emerging market economies, relative to advanced ones.[2] This high passthrough makes dealing with external shocks particularly difficult for EM central banks, as second-round effects could be sizeable, including from ongoing shocks to trade policy that could disrupt supply chains and raise input costs.

    Inflation expectations also tend to be more sensitive to fiscal policy and debt in EMs. This likely reflects increased risks of fiscal dominance and political interference in central bank decisions, which can undermine the public’s confidence in the central bank’s ability to fight inflation. A surprise increase in government debt tends to boost medium-term expected inflation in EMs significantly, while having little effect in advanced economies.[3]

     

    Exchange rates have a much larger imprint on price and financial stability

    A third critical distinction between EMs and AEs is that the exchange rate has a much larger imprint on price and financial stability in EMs.  While passthrough of exchange rate changes to inflation has declined considerably for many EMs, it remains significantly higher than in advanced economies. A 10 percent depreciation of EM currencies against the dollar causes EM price levels to rise by about 2 percent, several times larger than in advanced economies.[4]

    The presence of foreign exchange mismatches increases the financial stability risks from exchange rate depreciation. While many EMs have reduced FX mismatches – or lowered the risk through the development of derivatives markets that allow for better hedging — reliance on dollar funding within the financial system remains an important source of fragility for some EMs. This weakens monetary transmission, as lowering interest rates causes the balance sheets of corporates with unhedged FX liabilities to deteriorate and financial conditions to tighten, which offsets some of the stimulus from easing. EMs that have shifted to relying more on local currency financing also can experience sharp increases in currency premia and local borrowing costs when foreign investors exit these shallow markets. This makes it harder for EMs to deal with an environment of bigger external shocks: even if a tariff abroad would look like a demand shock from the standpoint of an AE economy, the exchange rate depreciation it induces raises risk spreads and makes it harder for the EM central bank to cushion the impact on the economy. 

    Steering through the fog: How should policy respond?

    Having outlined some of the unique challenges emerging market central banks face in the current global context, I will next lay out some broad principles that can help steer through the fog. EMs clearly will differ in how they respond to the shocks and the uncertainty depending on their cyclical conditions and on structural features such as the extent of their exposure to trade and financial disruptions.

    This said, and despite the fog, EM central banks should respond forcefully to upside inflation risks if they materialize to ensure that high inflation does not get embedded into inflation expectations. While I’ve noted that we see the current configuration of tariffs as likely to be slightly disinflationary for many EMs in our reference scenario, there is a significant risk that inflationary pressures could emerge — from supply chain disruptions and higher input cost pressures in a fragmenting world or from exchange rate depreciations. 

    Given the high passthrough of both exchange rate changes and cost shocks to inflation in EMs, a major risk is large and persistent second round effects, especially if inflation has been running persistently above target and the fiscal position is weak. History has shown that once inflation becomes embedded in expectations—often through wage and price indexation mechanisms—it becomes significantly more difficult to reverse. If the risk materializes, timely and firm action is critical to keep inflation expectations anchored and reassure the public of the central bank’s unwavering commitment to sound monetary policy and price stability.

    Foreign exchange intervention should be used prudently

    Second, in a more turbulent external environment, foreign exchange intervention (FXI) can help address disorderly market conditions that undermine financial stability. The Fund’s Integrated Policy Framework is helpful in identifying conditions when it may be possible to improve tradeoffs facing central banks using FXI and other tools (IMF, 2023; Basu, Boz, Gopinath, Roch and Unsal, 2023).

    Notably, central banks can reduce exchange rate pressures by selling FX during episodes of capital flight when FX markets are shallow, allowing central banks not to have to hike policy rates sharply. This can improve macroeconomic outcomes as well as lower financial stability risks.

    However, it is important that FXI is not used to reduce exchange rate volatility per se, or to target a particular level of the exchange rate, as such misuse could easily weaken confidence in the central bank’s commitment to stabilizing inflation.  Moreover, given the finite level of reserves, the bar for FXI should be high to ensure that FX liquidity can be provided when it is really needed. As of now financial conditions have tightened in an orderly manner, which means that when it comes to FXI the advice is to keep the powder dry.

    Build financial and fiscal resilience

    Third, efforts to build financial resilience through strengthening prudential policies are also desirable. As I have emphasized, EM financial systems remain quite exposed to geopolitical shocks and face growing risks from heightened external finance from foreign nonbanks and potentially crypto. Prudential policies can help them build adequate buffers as well as reduce vulnerabilities arising from high leverage, volatile capital flows, and FX mismatches. On the crypto side, it will be important to develop comprehensive legal, regulatory and supervisory frameworks for crypto assets, including through cooperative global efforts given their cross-border nature (IMF, 2023b).  The authorities should also ensure that capital flow management measures, when appropriate, remain effective and not undermined by the use of crypto.  And EMs should continue to strengthen macroeconomic frameworks to reduce the risk of currency and asset substitution into crypto assets (often called “cryptoization”).

    Fiscal policy also plays a critical role in helping ensure macroeconomic stability. Uncertainty shocks have much bigger effects on sovereign spreads when EM debt servicing costs are relatively high. Ensuring that tax and spending policies adjust to keep debt on a sustainable path helps provide buffers to respond to downturns and lowers financial stability risks.

    Improve central bank communication, governance, and policy strategy

    Lastly, there is a high premium on further strengthening policy frameworks to continue building resilience in a more shock-prone environment. 

    Clarity of communication has become more critical than ever. Effective communication about the central bank’s reaction function –in qualitative terms – is likely to be useful in helping better anchor inflation expectations and thus improve tradeoffs.

    Improved governance – including to strengthen central bank independence – can increase public confidence that the central bank will have latitude to achieve its objectives. Central banks will inevitably make mistakes—no forecast is perfect. But what must be clear is that any deviation from target is the result of uncertainty, not political interference.

    EM central banks, as for their AE counterparts, must also adapt their policy strategies to focus more on the distribution of outcomes rather than the modal outlook, and to take more account of risk management considerations. Monetary policy must navigate a world shaped by a multiplicity of shocks—some persistent, some temporary, and some with offsetting effects on inflation where it is difficult to assess the net impact.

    Accordingly, many central banks should continue to take steps to revise their frameworks to move away from excessive reliance on central forecasts. This can be facilitated by increasing use of scenario analysis in decision-making.

    Conclusion

    To conclude, EMs have made major strides in improving their monetary policy frameworks, and this has enabled several of them to respond effectively to unprecedented shocks like the pandemic. They are now being tested again as the global economic order is reset and Knightian uncertainty prevails. This uncertainty does not, however, imply gradualism in all matters. If inflation pressures rise, EM central banks will need to respond quickly using policy rates to prevent higher inflation from getting entrenched as they did during COVID. We must recognize that the road ahead may have many unforeseen turns, which calls for further strengthening financial and fiscal resilience and navigating with monetary policy clarity, credibility, and discipline.

    References

    Baba, C., and J. Lee. 2022. “Second-round effects of oil price shocks – implications for Europe’s inflation outlook”. IMF Working Paper no. 2022/173.

    Basu, S.S., Boz, E., Gopinath, G., Roch, F., and F.D. Unsal. 2023. “Integrated monetary and financial policies for small open economies”. IMF Working Paper no. 2023/161.

    Brandão-Marques, L., Casiraghi, M., Gelos, G., Harrison, O., and G. Kamber. 2024. “Is high debt constraining monetary policy? Evidence from inflation expectations”. Journal of International Money and Finance 149(C).

    Brandão-Marques, L., Górnicka, L., and G. Kamber. 2023. “Exchange rate fluctuations in advanced and emerging economies: Same shocks, different outcomes”, in Shocks and Capital Flows, edited by Gaston Gelos and Ratna Sahay, IMF.

    Cardozo, P., Fernández, A., Jiang, J., and F.D. Rojas. 2024. “On cross-border crypto flows: Measurement, drivers, and policy implications“. IMF Working Paper no. 2024/261.

    Cerutti, E.M., Chen, J., and M. Hengge. 2024. “A primer on Bitcoin cross-border flows: Measurement and drivers“. IMF Working Paper no. 2024/85.

    Chari, A. 2023. “Global risk, non-bank financial intermediation, and emerging market vulnerabilities”. Annual Review of Economics 15: 549-572.

    De Leo, P., Gopinath, G., and S. Kalemli-Özcan. 2024. “Monetary policy and the short-rate disconnect in emerging economies”. NBER Working Paper no. 30458.

    IMF. 2023. “Integrated Policy Framework – Principles for use of foreign exchange interventions”. IMF Policy Paper no. 2023/061.

    IMF. 2023b. “Elements of effective policies for crypto assets”. IMF Policy Paper no. 2023/004.

    https://www.imf.org/en/News/Articles/2025/05/07/sp050725-science-of-monetary-policy-in-emerging-markets-gita-gopinath

    MIL OSI

    MIL OSI Russia News

  • MIL-OSI Global: Culture wars, political polarization and deepening inequality: the roots of Trumpism

    Source: The Conversation – France – By Jérôme Viala-Gaudefroy, Spécialiste de la politique américaine, Sciences Po

    More than 100 days into his return to the White House, the conclusion is stark: Donald Trump is no longer the same president he was during his first term. His familiar nationalist and populist rhetoric is now openly paired with an authoritarian turn – one without precedent in US history. He has adopted a neo-imperial view of the economy, treating the global order as a zero-sum contest of winners and losers. In this worldview, cooperation gives way to domination: what matters is power and the accumulation of wealth.

    Having withstood two impeachment procedures, numerous lawsuits and at least one assassination attempt, Trump now governs with what can appear to be unchecked authority. To his followers, he has become a hero, a martyr – almost a messianic figure. He no longer sees democracy as a framework to be honoured, but as a tool to legitimize his hold on power. His decisive electoral victory now serves as a mandate to cast aside institutional limits.


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    Three key features define his style of governance: a radical centralization of executive power grounded in the theory of the “unitary executive”; the politicization of the Department of Justice, used as a weapon against rivals; and the manipulation of federal authority to target cultural, media and educational institutions. His playbook is chaos: unsettle opponents, dominate the media narrative and blur the boundaries of democratic norms. Impulsive and reactionary, Trump often governs in response to Fox News segments or trending posts on Truth Social. Instability has become a strategic tool.

    But Trump is not a historical anomaly. While his 2016 victory may have seemed unlikely, his re-election reflects a deeper, long-term transformation rooted in the post-Cold War era.

    From an external to an internal enemy

    The collapse of the USSR – a structuring external enemy – redirected political confrontation toward the designation of an internal enemy. The culture war has become the dominant ideological battleground, driven by two closely linked forces. On one side, a religious radicalization led by nationalist Christian movements – such as the New Apostolic Reformation – seeks to roll back social progress and promote the vision of an outright theocracy. On the other, growing racial anxiety is fueled by fears of white demographic decline and resistance to civil rights gains.

    The commentator Pat Buchanan saw it coming as early as the 1990s. Speaking at the 1992 Republican National Convention, he warned: “There is a cultural war going on for the soul of America… as critical as the Cold War itself.” Too radical for his time, Buchanan championed a white, Christian, conservative US hostile to cosmopolitan elites. Though marginalized then, his ideas laid the groundwork for what would become Trumpism.

    Newt Gingrich, who served as Speaker of the House from 1995 to 1999, played a pivotal role in reshaping both the Republican party and US politics. A Republican group he chaired famously distributed a pamphlet to Republican candidates titled “Language: A Key Mechanism of Control”, advising them to use uplifting language to describe themselves, and inflammatory terms like “corrupt”, “immoral” and “traitor” to describe their opponents. This aggressive rhetoric redefined political rivals as enemies to be defeated – helping pave the way for a right-wing politics in which winning trumps democratic norms.

    At the same time, the rise of a new conservative media ecosystem intensified polarization. The launch of Fox News in 1996, the growth of right-wing talk radio shows like Rush Limbaugh’s and the later explosion of social media gave the US right powerful tools to shape and radicalize public opinion. Today, algorithm-driven information bubbles trap citizens in alternate realities, where misinformation and outrage drown out reasoned debate. This has deepened polarization and fractured society as a whole.

    Channeling anger

    This ideological and media realignment has unfolded alongside a broader crisis: the unraveling of the post-Cold War neoliberal consensus. Promises of shared prosperity have been replaced by deindustrialization, deepening inequality and widespread resentment. Successive traumas – from 9/11 and the 2008 financial crash to the Covid-19 pandemic – and foreign wars without real victories have eroded public trust in the establishment.

    Trump channels this anger. He offers a vision of a restored and idealized America, a rollback of recent social gains, and a reassertion of national identity grounded in religion and race. His populism is not a coherent ideology but an emotional response – born of perceived injustice, humiliation and loss.

    Trump is more than a symptom of America’s democratic crisis: he is its most vivid manifestation. He embodies the legacy of the 1990s – a foundational decade of identity grievance, culture wars and media deregulation. Viewed as a political outsider, he has never been judged as a traditional politician, but rather embraced, by some, as the archetypal “self-made man” – a successful businessman and reality TV celebrity.

    His rhetoric – transgressive, provocative and often cruel – gives voice to what had been repressed. The humiliation of opponents becomes part of the performance. For his supporters, it’s exhilarating. It breaks taboos, flouts political correctness and feeds the fantasy of reclaiming a lost America.

    And he’s no longer alone. With the vocal support of economic and tech elites like Elon Musk – now a central figure in the radicalized right on X – Trumpism has entered a new phase. Together, they’ve outlined a new kind of authoritarian, cultural and digital power, where influence matters more than institutions.

    The US re-elected not just a man, but a style, an era and a worldview built on dominance, disruption and disdain for rules. Still, history is unwritten: intoxicated by hubris and undermined by incompetence, Trumpism may yet crash into the wall of reality – with consequences far beyond America’s borders.

    Jérôme Viala-Gaudefroy ne travaille pas, ne conseille pas, ne possède pas de parts, ne reçoit pas de fonds d’une organisation qui pourrait tirer profit de cet article, et n’a déclaré aucune autre affiliation que son organisme de recherche.

    ref. Culture wars, political polarization and deepening inequality: the roots of Trumpism – https://theconversation.com/culture-wars-political-polarization-and-deepening-inequality-the-roots-of-trumpism-255778

    MIL OSI – Global Reports

  • MIL-OSI Asia-Pac: LCQ15: Promoting pop culture industry

    Source: Hong Kong Government special administrative region

    Following is a question by the Hon Kenneth Fok and a written reply by the Secretary for Culture, Sports and Tourism, Miss Rosanna Law, in the Legislative Council today (May 7):
     
    Question:
     
    The Government in the Blueprint for Arts and Culture and Creative Industries Development (the Blueprint) published in November last year explicitly proposed that Hong Kong should be developed into a “capital of pop culture”. Measures include promoting the development of the pop culture industry, supporting the innovative development of pop culture, and promoting the organisation of more events such as concerts and music festivals. However, some members of the industry have relayed that the existing measures on venue provision, ancillary support and talent nurturing are not in line with the policy objectives, which affect the competitiveness of Hong Kong’s pop culture. In this connection, will the Government inform this Council:
     
    (1) of the details of the use of the venues under the Leisure and Cultural Services Department (LCSD) for organising pop culture activities in the past three years, including the venues involved, the number of sessions of the programmes held, the types of activities, the number of participants and the utilisation rates of seats (set out in a table);
     
    (2) as some members of the industry have relayed that it is difficult for emerging artists and independent groups to be allocated time slots in LCSD venues, whether the Government will review the existing venue allocation mechanism and scoring criteria, so as to address the industry’s demand for small and medium-sized commercial performance venues; if so, of the details; if not, the reasons for that;
     
    (3) given that the 2022 Policy Address has proposed to increase the number of seats at performance venues by about 50 per cent, of the number of newly-built or converted venues and the number of additional seats at present, and whether it has reviewed if the progress of work in achieving this policy objective is in line with expectations;
     
    (4) whether the authorities will comprehensively enhance the relevant measures to solve the problem of insufficient performance venues for the pop culture industry (including reviewing the Venue Partnership Scheme to increase the quota for small and medium-sized performing groups; enhancing the transparency of the scoring criteria for booking LCSD venues; relaxing the restriction on the use of some government venues (e.g. sports grounds and vacant school premises) for performances; and studying the provision of dedicated venues for pop culture); if so, of the specific plans; if not, the reasons for that; and
     
    (5) given that the Blueprint has proposed to promote the private sector to organise more pop culture events in Hong Kong, of the authorities’ specific plans in place to encourage enterprises and investors to support the development of local pop culture, and whether it will provide incentives to attract more market resources, so as to assist the industry in exploring commercial performance opportunities and support the nurturing of talents for the industry?
     
    Reply:
     
    President:
     
    Hong Kong’s unique pop culture is an important brand of our culture. The Hong Kong Special Administrative Region  Government endeavours to promote the development of pop culture, with a view to developing Hong Kong into the “capital of pop culture”, in accordance with the Blueprint for Arts and Culture and Creative Industries Development (the Blueprint), consolidating Hong Kong’s role as an East-meets-West Centre for international cultural exchange.
     
    In consultation with the Development Bureau, my reply to the question raised by the Hon Kenneth Fok is as follows:
     
    (1) The number of performances and attendance of pop culture activities held at the performance venues under the Leisure and Cultural Services Department (LCSD) in the past three years are tabulated as follows (with numbers of attendance in parenthesis):
     

    Venue / Year 2022 (Note 3) 2023 2024
    Stadia (Note 1) 90
    (667 954)
    114
    (803 632)
    117
    (938 522)
     
    Performing arts venues (Note 2) 420
    (82 562)
    607
    (125 764)
    721
    (133 318)
     

     
    Note 1: Stadia include the Hong Kong Coliseum and the Queen Elizabeth Stadium.
    Note 2: Performing arts venues include the Hong Kong Culture Centre, the Hong Kong City Hall, the Sheung Wan Civic Centre, the Sai Wan Ho Civic Centre, the Ko Shan Theatre, the Ngau Chi Wan Civic Centre, the Sha Tin Town Hall, the North District Town Hall, the Tsuen Wan Town Hall, the Kwai Tsing Theatre, the Tuen Mun Town Hall and the Yuen Long Theatre. The Sai Wan Ho Civic Centre was closed for the renovation and improvement project since April 2022.
    Note 3: Owing to COVID-19, all performance venues were closed for 104 days in 2022.
     
    (2) to (4) The Culture, Sports and Tourism Bureau (CSTB), the LCSD and the West Kowloon Cultural District (WKCD) etc., endeavour to provide venues for various arts and culture activities. We are aware that there has been a strong demand for performance venues from the public as well as the arts and culture sectors. Therefore, we have been building new performance venues and upgrading existing facilities over the past few years. The newly built East Kowloon Cultural Centre and the upgraded Tai Po Civic Centre and Sai Wan Ho Civic Centre are expected to open in full this year; The WestK Performing Arts Centre is expected to be completed in 2026; and we are also building the New Territories East Cultural Centre. A total of around 8 300 seats will be available at these performance venues. Besides, the Kai Tak Sports Park (KTSP) officially commissioned on March 1, 2025, providing venues for hosting large-scale pop culture events.
     
    Since its full commissioning in March 2025, the KTSP has provided an option of a brand-new and attractive venue for sports and cultural mega events in Hong Kong, including concerts and pop culture events. The KTSP features a 50 000-seat Kai Tak Stadium, a 10 000-seat Kai Tak Arena, a 5 000-seat Kai Tak Youth Sports Ground and other ancillary facilities. In the past two months, various large-scale concerts of various renowned international, Asian and local bands and singers took place at the Kai Tak Stadium and Kai Tak Arena.
     
    The Government has also been supporting small and medium-sized arts groups and emerging artists through various measures, such as providing funding support for large-scale and cross-year arts and cultural initiatives/activities through the Arts Capacity Development Funding Scheme. Programme offices of the LCSD also provide support to local small and medium-sized arts groups and emerging artists through different modes of collaboration to promote continuous innovation and development of arts groups in Hong Kong.
     
    We are reviewing the usage and hiring arrangements of our venues (including reviewing the Venue Partnership Scheme), with an aim to make more effective use of venues resources, offer more booking slots for use of different arts groups and cater for the needs of the arts and culture sectors, thereby building a vibrant, diverse and flourishing ecosystem. On setting up of a dedicated venue for pop culture, the LCSD is currently identifying a suitable site for the Pop Culture Centre, and will discuss with and consult various stakeholders and expert advisers on related matters, such as the long-term planning and facilities of the Pop Culture Centre etc., with a view to formulating appropriate plans for developing it into a cultural landmark and tourism hotspot.
     
    The public pleasure grounds under the LCSD have all along been open to applications for non-designated uses, such as charitable activities or festive celebrations. When processing relevant applications, the LCSD will consider factors such as the proposed duration of hire, the area to be hired, as well as the purpose and nature of the activity. Given the very keen public demand for sports facilities, the LCSD will strive to strike a balance to meet the needs of different venue users.
     
    On the use of school venues, the Government has launched the Pilot Scheme on the Use of School Venues by Arts Groups in 2024 to open up parts of school venues for rehearsals by arts groups after school hours on a pilot basis. Any organisation/institution that wishes to use vacant school premises (VSP) for long-term or short-term uses could liaise and seek support from the relevant policy bureau(s) for its application of using the VSP.
     
    (5) On promoting the development of local pop culture and industries, LCSD has been collaborating with the sector to organise the annual Hong Kong Pop Culture Festival (PCF) since 2023. The first two editions of PCF attracted about 530 000 and over 640 000 participants respectively. The third edition of PCF is being held from April to July 2025 with the theme “More Than Joy” to promote Hong Kong’s unique comedy. PCF offers rich and diverse activities, supports local young artists and emerging art groups, and promotes cross-generation and cross-genre collaboration. We will step up the promotion of pop culture programmes to the Mainland and overseas facilitate Hong Kong’s pop culture to “go global”, thereby establishing overseas collaboration networks for local artists and the brand of PCF.
     
    The CSTB has been supporting mega arts and cultural events organised by the private sector or non-governmental organisations in Hong Kong through the Mega Arts and Cultural Events (ACE) Fund, including mega events on pop culture such as ComplexCon Hong Kong 2025 and Hypefest Hong Kong 2024. The Mega ACE Fund has enhanced its operation since January 1, 2025. To enhance the level of participation of commercial organisations, matching grant has been introduced in the new application mechanism. The initiative aims to encourage the event organisers to solicit commercial sponsorship, thereby boosting the market feasibility and business potential of events and to follow the over-arching principle of industry building.
     
    Besides, the West Kowloon Cultural District Authority (WKCDA) actively makes use of its museums, performing arts venues and public spaces to promote pop culture through various cultural and artistic programmes. For example, the WKCDA held “WestK POPFEST” in 2023 and 2024, which has been sponsored by private enterprises for two consecutive years, has brought together local young singers and groups, blending pop culture with artistic creation. The events were well-received by music fans, attracting over 60 000 participants in 2024, breaking the attendance record for different types of music festivals held in the WKCD over the years.
     
    The Cultural and Creative Industries Development Agency (CCIDA) continues supporting the co-production of television variety programmes by local television stations with their counterparts in the Mainland and Asia through the CreateSmart Initiative, so as to help the industry explore business showcasing opportunities in the Mainland and overseas, uplift the soft power of Hong Kong pop culture and enhance economic benefits. The scheme has so far accepted two rounds of applications. Eight project had been approved, among which five were broadcast.
     
    On talent nurturing, sponsored by the CCIDA, the “Make Music Work – Music Creation and Production Talents Nurturing Scheme” was launched in 2019 to support the development of emerging local music talent. In the latest edition, 12 units each comprising a composer, lyric writer and arranger were matched with experienced music producers and singing units for a series of support and training to produce original songs, and were provided with a platform and live concert to release and perform their original songs, so as to promote local original music development. 
     
    We will continue to foster the industry to explore private market and investment actively, as well as exploring business showcasing opportunities and support talent nurturing of the industries, so as to align with the strategic directions of the Blueprint.

    MIL OSI Asia Pacific News