NewzIntel.com

Category: Economy

  • MIL-OSI: Landmark Bancorp, Inc. Announces Conference Call to Discuss Third Quarter 2024 Earnings

    Source: GlobeNewswire (MIL-OSI)

    Manhattan, KS, Oct. 23, 2024 (GLOBE NEWSWIRE) — Landmark Bancorp, Inc. (Nasdaq: LARK) announced that it will release earnings for the third quarter of 2024 after the market closes on Wednesday, October 30, 2024. The Company will host a conference call to discuss these results on Thursday, October 31, 2024 at 10:00 am (CT). Investors may listen to the Company’s earnings call via telephone by dialing (833) 470-1428 and using access code 242414. Investors are encouraged to call the dial-in number at least 5 minutes prior to the scheduled start of the call.

    A replay of the earnings call will be available through November 30, 2024, by dialing (866) 813-9403 and using access code 908094.
            
    About Landmark

    Landmark Bancorp, Inc., the holding company for Landmark National Bank, is listed on the NASDAQ Global Market under the symbol “LARK.” Headquartered in Manhattan, Kansas, Landmark National Bank is a community banking organization dedicated to providing quality financial and banking services. Landmark National Bank has 30 locations in 24 communities across Kansas: Manhattan (2), Auburn, Dodge City (2), Fort Scott (2), Garden City, Great Bend (2), Hoisington, Iola, Junction City, Kincaid, LaCrosse, Lawrence (2), Lenexa, Louisburg, Mound City, Osage City, Osawatomie, Overland Park, Paola, Pittsburg, Prairie Village, Topeka (2), Wamego and Wellsville, Kansas. Visit www.banklandmark.com for more information.

    Contact:
    Mark A. Herpich
    Chief Financial Officer
    (785) 565-2000

    The MIL Network –

  • MIL-OSI Security: Illinois Murder Suspect on U.S. Marshals 15 Most Wanted Fugitive List Arrested in Mexico

    Source: US Marshals Service

    Washington, DC – The manhunt for an Illinois murder suspect placed on the U.S. Marshals 15 Most Wanted fugitives list in 2020 ended Oct. 21, 2024, when Mexican law enforcement officers arrested John Panaligan in Tepic, Mexico. The fugitive is not a national of the country and was turned over to Mexican immigration authorities who deported him to the United States Oct. 22.

    Panaligan, 57, was wanted for allegedly murdering attorney Victor Jigar Patel, who was found strangled to death in his Northbrook, Illinois, office Dec. 7, 2016. At the time of his death, Patel, 36, was representing plaintiffs suing Panaligan in civil court. 

    “I want to express my appreciation and gratitude to the men and women of the Marshals Service, as well as to the officials from the Government of Mexico,” said Director Ronald L. Davis. “I hope this arrest brings some measure of comfort to the Patel family and serves as a stark reminder to fugitives from justice that there is no place to hide.”

    “The collaborative work of the Great Lakes Regional Fugitive Task Force and the Northbrook Police Department in the apprehension of this international fugitive is a testament to our strong regional relationships and the value it brings to our community,” said U.S. Marshal LaDon Reynolds of the Northern District of Illinois. 

    “The United States Marshal’s Great Lakes Fugitive Task Force worked tirelessly in collaboration with the Northbrook Police and other agencies to apprehend the fugitive.  The relentless efforts by law enforcement for the past 8 years are a clear reminder that you cannot hide from justice. The Northbrook Police Department remains committed to providing closure for the family of the victim, Jigar Patel,” said Interim Chief John Ustich of the Northbrook Police Department.

    Panaligan allegedly lured Patel to his law office by scheduling an appointment using an alias. Authorities believe Panaligan showed up wearing a disguise, which was captured on nearby security cameras, and then killed the victim in his office. 

    Two days later, Panaligan was detained at the Canadian border for allegedly smuggling a firearm into Canada but was eventually allowed to return to the U.S. where he was interviewed by Northbrook Police in relation to Patel’s death. During the investigation, authorities executed multiple search warrants of Panaligan’s belongings and property. Evidence collected gave authorities reason to believe Panaligan was the prime suspect in Patel’s murder. 

    Panaligan is believed to have fled to Mexico before he could be arrested. An arrest warrant for first-degree murder was issued for Panaligan Feb. 8, 2017. The USMS placed him on its 15 Most Wanted list Nov. 23, 2020, and offered a reward of up to $25,000 for information leading to his capture. Due to Panaligan’s international ties and dual citizenship between the U.S. and the Republic of the Philippines, authorities believed he could have traveled anywhere with assistance from acquaintances to elude capture.

    Created in 1983, the USMS 15 Most Wanted (15MW) fugitive program draws attention to some of the country’s most dangerous and high-profile fugitives. These fugitives tend to be career criminals with histories of violence who pose a significant threat to public safety. 

    Generally, 15MW fugitives are considered the “worst of the worst” and can include murderers, sex offenders, major drug kingpins, organized crime figures and individuals wanted for high-profile financial crimes. Since the program began in 1983, more than 250 15MW fugitive cases have been closed. 

    The USMS has a long history of providing assistance and expertise to other federal, state, and local law enforcement agencies in support of their fugitive investigations. Working with authorities at the federal, state, tribal, and local levels, USMS-led fugitive task forces arrested more than 73,000 fugitives and cleared nearly 86,000 warrants in FY 2023.  

    MIL Security OSI –

  • MIL-OSI Economics: Joint IMF-Regional Financing Arrangements Press Release on the Ninth High-level RFAs Dialogue

    Source: International Monetary Fund

    October 23, 2024

    Washington, DC: The 9th High-level Regional Financing Arrangements (RFAs) Dialogue was held on 23 October 2024 in Washington DC at a time when the global economic outlook is improving but remains weak amid a complex geoeconomic environment and elevated policy uncertainty. The heightened volatility observed in global financial markets over the summer reaffirmed the importance of having a strong Global Financial Safety Net, including effective collaboration between the International Monetary Fund (IMF) and RFAs, to safeguard against external risks.

    During the dialogue, representatives from the IMF and  the RFAs (the Arab Monetary Fund, the ASEAN+3 Macroeconomic Research Office cum the Chiang Mai Initiative Multilateralisation, the BRICS Contingent Reserve Arrangement, the Eurasian Fund for Stabilization and Development, the European Commission, the European Stability Mechanism, and the Latin American Reserve Fund) provided an update on institutional activities since their last meeting in October 2023 in Marrakech, covering a range of issues from policy and instrument enhancements to capacity and analytical developments.

    The exchange demonstrated the RFAs’ continued efforts to prepare their institutions for an uncertain economic and financial landscape, marked by risks of geoeconomic fragmentation, the threat of climate change, and a transforming global economy under the influence of artificial intelligence and digital progress. 

    The IMF is continuing to adapt to ensure that its policy advice, financial resources, and capacity development can best support its global membership. IMF staff updated RFAs on recent lending toolkit reforms that directly benefit its membership while reinforcing the IMF’s strong financial position. The recently completed Review of Charges and the Surcharge Policy reduces charges and surcharges on regular IMF lending, and the Review of the Poverty Reduction and Growth Trust puts in place a comprehensive package that secures the concessional lending capacity to support low-income countries. IMF staff also discussed how the institution is implementing its Climate Strategy across its operations. As the institution at the center of the global financial safety net, the IMF serves as a critical platform for cooperation to tackle global economic challenges.

    The IMF and RFAs appreciated the exchange of views with Joaquim Levy and Siddharth Tiwari, in their capacity as members of the Bretton Woods Committee Multilateral Reform Working Group, on how to empower multilateralism amid geoeconomic fragmentation. The roundtable discussion offered an opportunity to explore the role that RFAs can play in advancing global solutions to shared challenges. The RFAs stressed that the IMF and the World Bank, with their global memberships and decades-long expertise, are best suited to take the lead in such efforts. The RFAs can support the Bretton Woods institutions’ work by leveraging their regional knowledge and the close ties that they have cultivated with each other and the IMF in recent years. Participants also welcomed the timely update from the French co-chair of the G20 International Financial Architecture Working Group on the group’s priorities, especially on its quest towards a more effective and representative global financial architecture.

    Recognising that the system of international cooperation is under strain, the IMF and RFAs reiterated their continued commitment to maintain an open and candid dialogue to share crisis experiences and expertise and support multilateralism.

    The 9th Joint RFA Research Seminar will be held in Colombia in the first half of 2025. The 10th High-level RFA Dialogue will be convened at the margins of the next IMF/World Bank Annual Meetings in October 2025.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Julie Ziegler

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    @IMFSpokesperson

    MIL OSI Economics –

  • MIL-OSI Reportage: Scammers undeterred: 9 in 10 NZers targeted, but reporting surges

    Source: BNZ statements

    New research from BNZ highlights the unrelenting onslaught of criminal scammers facing New Zealanders, with nearly nine in ten Kiwis reporting they’ve been targeted by scammers in the past year. 

    BNZ’s annual Scam Savvy survey found that 87% of New Zealanders were targeted by scams in the past 12 months, virtually unchanged from 2023 (88%).  

    However, in a positive shift, New Zealanders are fighting back: despite persistent attacks, the proportion of people reporting scams to organisations like banks, police, and Netsafe, has jumped to 70%, up from 62% in 2023 and a mere 46% in 2022. 

    BNZ Head of Financial Crime, Ashley Kai Fong, says, “While it’s concerning that scammers continue to target Kiwis at such a high rate, we’re pleased to see a significant increase in scam reporting.  

    “This shift suggests that our efforts to raise awareness and encourage action are paying off. However, it’s crucial to remember that if you suspect you’ve been scammed, you should always call your bank immediately. Quick action can often help prevent or limit financial losses.” 

    Key findings from BNZ’s 2024 Scam Savvy survey include: 

    • Government impersonation scams have increased, with 52% of respondents targeted by this type of scam in the last 12 months, up from 45% in 2023 
    • Email remains the most common scam channel, with 34% of scam victims targeted this way. 
    • Website-based scams have more than doubled, with 22% of scam victims being contacted this way, up from 9% in 2023 
    • Social media remains a significant channel for scammers, with 22% of respondents encountering scams on these platforms 
    • 1 in 8 respondents fell victim to a scam in the last 12 months, with 7% losing money 

    “The tactics used by scammers are constantly evolving, so the increase in reporting is a crucial step in our collective fight against fraud – every report makes it harder for scammers to operate. We’re seeing a real shift in attitudes, with more people recognising the importance of speaking up,” Kai Fong says. 

    In response to the evolving scam landscape, BNZ recently launched another anti-scam tool. The ‘online banking lock’ feature gives customers the ability to disable all online banking activity and lock access to their online banking if they suspect a scammer has gained access to their accounts. 

    “This new tool – available in the BNZ app – gives customers the ability to lock their online banking while they’re contacting us, potentially speeding up the process to lock their accounts and shut scammers out,” says Kai Fong. 

    The online banking lock is just one of a number of new features BNZ has introduced, including: 

    • Introducing a way for customers to verify their identity through the BNZ app when prompted by a BNZ staff member to confirm it is the bank calling. 
    • Introducing additional two-factor authentication (2FA) within internet banking for high-risk actions such as changing personal contact details, creating a new payee, editing an existing payee, or making payments to unsaved payees. This is required regardless of whether a customer has already completed 2FA in their current session. 
    • Deploying ID readers in branch to help identify fraudulent documents. 

    “While we’re making progress and introducing new protective measures, our research underscores the need for continued vigilance and education. We urge all New Zealanders to stay informed about the latest scam tactics and to report any suspicious activity immediately.  

    “Remember, reporting a scam isn’t just about your own protection—it could prevent someone else from becoming a victim too,” says Kai Fong. 

    Keeping account details, passwords and pin numbers safe 

    • never click on links or attachments sent by someone you don’t know or that seem out of character for someone you do know 
    • keep your computer and phone security software up to date 
    • contact your bank as soon as possible if you think you’ve been scammed 

    Top tips to get scam savvy – BNZ will never: 

    • email or text you links to online banking and ask you to log in 
    • send you a text message with a link to a website, or link to call us 
    • ask you for information about your PIN number, bank account number, or password 
    • ask you to verbally share the authentication codes sent to you by text or email, even with a BNZ staff member 
    • ask you to transfer money to help catch a scammer or a bank employee who is scamming customers send you a text message about account issues with a link to log in 
    • ask you to download software to access your Internet Banking remotely 
    • use international phone numbers to call or send you notifications.

    The BNZ Scam Savvy research was commissioned by BNZ using the Insights HQ my2cents online research panel. Responses were collected between July 30 and August 16, 2024, with a sample size of 1,263 New Zealanders. The sample was weighted to be nationally representative on region, age and gender.

    The post Scammers undeterred: 9 in 10 NZers targeted, but reporting surges appeared first on BNZ Debrief.

    MIL OSI Analysis –

  • MIL-OSI USA: Manchin Announces $428 Million for Manufacturing Projects in Coal Communities in West Virginia and Across the Country

    US Senate News:

    Source: United States Senator for West Virginia Joe Manchin
    October 23, 2024
    Charleston, WV- Today, Senator Joe Manchin III (I-WV), Chairman of the Senate Committee on Energy and Natural Resources, announced nearly $430 million to accelerate domestic clean energy manufacturing in coal communities in West Virginia and across the country. This award from the Department of Energy’s (DOE) Office of Manufacturing and Energy Supply Chains is a result of the Bipartisan Infrastructure Law’s direct investments in coal communities that were secured by Chairman Manchin. Today’s funding announcement includes $9.8 million for Sparkz, a battery material producer in Bridgeport, West Virginia, who will partner with the United Mine Workers of America to train former coal miners to become a part of their workforce.
    “Our nation’s coal communities have stepped forward and served as the backbone of our economy time and time again, said Chairman Manchin. “That’s why ensuring our coal communities have the resources they need to develop new industries has remained a top priority for me during my time in the United States Senate.
    “I am proud to have secured this funding in the Bipartisan Infrastructure Law to revitalize these communities throughout West Virginia and across the country,” Chairman Manchin continued. “This investment will stimulate economic growth and create thousands of good paying jobs in these critical communities that have too often been overlooked and undervalued.”
    For information on the 14 selected projects, click here.
    To learn more about the Bipartisan Infrastructure Law, click here.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Green Party NI Leader Senator Mal O’Hara furious over homelessness figures in Northern Ireland

    Source: The Green Party in Northern Ireland

    Green Party NI Leader Senator Mal O’Hara furious over homelessness figures in Northern Ireland

    Recent figures released to the NI Assembly showing number of people with homeless status reaches 58,238, a 135.5% increase in 10 years.
    Senator O’Hara said “The executive parties have overseen a rise in homeless figures unrivalled by any comparable nation. It is an absolute disgrace that the executive can carry on as normal, while every day more people are facing housing stress, more people are sent to the back of housing list to wait decades for a home, more people are carted around the country just to keep a temporary roof over their heads.”
    Senator O’Hara continued “How much longer can this executive go on, ignoring the root causes of homelessness. Under investment in social housing, failure to properly regulate the private rented sector and allowing land hoarding to run rampant. This is exemplified by the executive only allocating enough funding for 500 social homes this financial year. At this pace it will take 60 years to clear the backlog of over 30,00 homeless households. The reflex from the executive parties is to blame Tory austerity or chronic under investment in Northern Ireland. They will not take responsibility for their 26 years of on and off government.”
    ENDS 
    Press enquiries – Mal O’Hara on 07540790663 

    MIL OSI United Kingdom –

  • MIL-OSI Canada: Fireside chat with Tiff Macklem, Governor of the Bank of Canada

    Source: Bank of Canada


















  • MIL-OSI Economics: APEC Finance Ministers Forge Strategies Focused on Sustainable, Digital and Resilient Finances Lima, Peru | 22 October 2024 APEC Finance Ministers’ Meeting

    Source: APEC – Asia Pacific Economic Cooperation

    As the global economic landscape continues to face economic,  financial and environmental challenges, APEC Finance Ministers from across the region are working together under this year’s theme to promote a more sustainable, digital and resilient future.  In 2024, the Finance Ministers’ Process (FMP) seeks to address economic integration, digital transformation and the broader social dimensions of growth.

    APEC Finance Ministers met in Lima, Peru on Monday where they were joined by representatives of international organizations and the private sector to discuss policy responses and future prospects for the region. Setting the tone for the meeting, Erick Lahura, Chief of Cabinet of Peru’s Ministry of Economy, opened the session and highlighted the imperative for APEC economies to collaborate closely in achieving the vision for a more resilient and inclusive Asia-Pacific.

    “To ensure the long-term prosperity of the Asia-Pacific, we must focus on sustainable practices, digital transformation and building resilience across our economies,” said Lahura. “This year, our work within the FMP will guide us toward a region that is stronger, more connected and better prepared to face future challenges.”

    A key topic was the importance of sustainable finance, with a special focus on the implementation of the four policy areas: domestic carbon pricing and non-pricing measures, sustainable energy transitions, sustainable infrastructure financing, and the sustainable finance initiative. Members emphasized the significance of resilient finance, particularly in enhancing policies related to hydrometeorological risk.

    Along this line, Finance Ministers announced the launch of Sustainable Finance Initiative (SFI) as a flexible, voluntary and non-binding collaboration tool between the public and private sectors and international organizations to promote the development of voluntary information sharing tools and capacity building resources on sustainable finance issues. The SFI was designed to empower financial institutions, regulators and investors to develop expertise in sustainable finance, ultimately contributing to the promotion of green and inclusive economic growth while addressing pressing global challenges such as climate change and social inequality.

    Besides, in a region where nearly 40 percent of the world’s disasters strike, with over 140 of those affecting more than 64 million people in 2022 and economic costs reaching USD 65 billion in 2023, APEC member economies committed to enhance their resilience by building deeper financial markets. Finance ministers are confident that resiliency can be bolstered through the development of innovative disaster risk financing and insurance mechanisms, and other risk transfer instruments available through capital markets.

    Members also emphasized the significance of digital finance, highlighting the progress made this year in two key policy areas: open finance and digital financial inclusion. Ambassador Carlos Vasquez, the APEC 2024 SOM Chair, noted the transformative impact of Peru’s FinTech sector in driving financial inclusion and the small business empowerment. He pointed out that Peru now hosts over 237 FinTech companies, with digital payment transactions increasing by 113 percent over the past year. “Our collective efforts to harness technology for the benefit of all ensures that everyone benefits from the growth opportunities we are working towards”, Vasquez indicated.

    Dr Rebecca Sta Maria, executive director of the APEC Secretariat, highlighted the need for a whole-of-APEC approach to ensure that the social dimensions of economic growth are addressed, particularly in improving the quality of life through decent jobs, sustainable private investment and inclusive financial systems.

    “Our work makes a meaningful impact when we focus on improving the quality of life for our people,” Dr Sta Maria explained. “Whether it be through regional economic integration or digital transformation, we must ultimately emphasize social inclusion and equity.”

    Other measures in the spotlight included strategies to combat rising protectionism and promote trade facilitation. The need for continued vigilance in monetary policies was highlighted, especially in light of recent interest rate adjustments and their potential impact on currency valuations and inflation.

    Carlos Kuriyama, director of APEC Policy Support Unit, reported a steady GDP growth of 3.6 percent in the APEC region for the first half of 2024, a slight increase from the previous year.

    “Economic recovery has been bolstered by improving consumption rates and easing inflation, although risks such as protectionism, supply chain uncertainties, and geopolitical tensions remain critical concerns,” Kuriyama concluded.

    Finally, the Minister of Economy and Finance of Peru, José Arista, concluded the meeting highlighting that Peru proposed a very ambitious plan for this year, with the most number of decisions, innovations and documents adopted in all the history of the Finance Ministers’ Process, and appreciates the work of all APEC economies, APEC Secretariat, APEC Business Advisory Council and international organizations for making this possible.

    For further details, please contact:

    APEC Media at [email protected]

    MIL OSI Economics –

  • MIL-OSI Global: US election: why more men and fewer white women say they will vote for Trump

    Source: The Conversation – UK – By Natasha Lindstaedt, Professor, Department of Government, University of Essex

    Donald Trump is leading Kamala Harris by 11 percentage points with male voters, according to a recent New York Times poll. Trump is carving out a definitive advantage with US men.

    While Trump’s core support comes from white men, he has also made notable gains with Hispanic-American and African-American men. Though Trump has repeatedly denigrated Hispanics and regularly uses anti-immigrant rhetoric, this has not been a deal breaker for the Latino community. Surveys have shown that around 50% of Hispanic men think that Trump is “tough” enough to be president.

    Trump helped ramp up disinformation around Barack Obama’s qualification to run as president by claiming that he had concerns about Obama’s birth certificate. Trump also defended white supremacists marching in Charlottesville, Virginia, but these moves have not deterred some young African American men from supporting him. About one in four African American men under the age of 50 plan to vote for Trump, polls suggest.

    Why young men like Trump

    A lot of Trump’s support comes from young men, in particular. Pollsters noted that when President Joe Biden was still in the race, he had lost one particular category of Democrats – people who liked podcaster Joe Rogan – a demographic that is mostly young men aged 18-29.

    Harris is underperforming compared with Joe Biden in 2020, and this is almost entirely due to losing support with young men. The same New York Times poll showed that Trump leads Harris among young men by 58% to 37%, more or less the same as Biden before he dropped out of the race.

    One of the reasons why some men are flocking to Trump is that young American men have moved more to the right in general.

    In 2024, young men are more likely to be Republican and more likely to see themselves as conservative than in the past, while the most progressive group in US history are young women. In fact, the gap between young men and young women and the politics they believe in has almost doubled in the past 25 years.

    Young men may be drawn to Trump because he pushes against societal pressure that men need to be apologetic for being themselves. Almost two-thirds of American men believe that men should be represented and valued more in society, according to a YouGov study.

    J.D. Vance and his childless cat ladies comment.

    Another issue may be that some men face tremendous pressure to live up to certain expectations. Past research argued that most men who found Trump appealing were finding it difficult to live up to social standards of masculinity, referred to as a fragile masculinity hypothesis.

    This connection was not associated with male support for Mitt Romney in 2012 or support for John McCain in 2008, but did correlate with support for Trump in 2016 and for Republicans in the midterm elections.

    Trump has bolstered his macho image by increasingly acting on the campaign trail as if he is speaking to a bunch of guys in a locker room. He has become more profane and vulgar, even talking about the size of pro golfer Arnold Palmer’s penis in a bizarre campaign moment.

    Trump also makes no attempt to be politically correct in the post-MeToo era, even complaining that noted sexual offender Harvey Weinstein got a raw deal .

    Though many women were repelled by Trump’s running mate J.D. Vance’s past videos where he claimed Washington was run by childless cat ladies, it did little to turn off Trump’s supporters.

    For some men, these ideas play into their fears about women becoming too powerful, and that men are facing a major threat to their social status. Some of these men that Vance has been trying to appeal to are Christian extremists who would like to overturn the 19th amendment (which gave US women the right to vote), and see women return to roles as homemakers.

    Trump also taps into the fears that some men may have about the threats posed to them by women’s advancement. One-third of men who support Trump believe that women have made gains at men’s expense, rising to 40% for men under 50 who support Trump, according to Pew Research from 2024.

    A survey from the Survey Center on American Life demonstrated that 19% of men say that women have it easier than men do, but it is men aged 18-29 who are twice as likely as men over the age of 64 to believe that this is the case.

    Indeed, some of the struggles young American men face are not just imagined. A Pew Research survey from 2023 found that young men in the US were less likely than in years gone by to be financially independent or have a full-time job by the age of 25.

    Young men are also less likely than young women to be enrolled in university, and have higher rates of suicide.

    Why do most women not like Trump?

    While Trump is doing well with some men, he has been haemorrhaging support from women. In particular, women have been mobilised by Trump and Vance’s misogynistic rhetoric, and by the Supreme Court’s 2022 decision to overturn Roe v Wade, which had given American women the right to an abortion.

    Support for reproductive rights does not differ much by gender with about 61% of men in support, compared to 64% of women, but the issue is more salient for women than men.

    Sensing the issue of abortion could be a problem for Trump with female voters, he tried to connect with women claiming that he would be their “protector” and that he was the “father of IVF”.

    But so far these strange statements, and Trump’s boorish comments may be turning off female voters – even white women – who were a core part of Trump’s support in 2016 and 2020. Trump only leads with white women by one percentage point in 2024, compared to seven points in 2020.

    In a historic election that has been defined by a notable gender gap, the two candidates’ communication styles could not be more different. However, it remains to be seen which candidate’s gender advantage will propel them to victory.

    Natasha Lindstaedt 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. US election: why more men and fewer white women say they will vote for Trump – https://theconversation.com/us-election-why-more-men-and-fewer-white-women-say-they-will-vote-for-trump-241721

    MIL OSI – Global Reports –

  • MIL-OSI Global: DIY musicians: how digital ‘bedroom pop’ has transformed the music industry

    Source: The Conversation – UK – By Paul G. Oliver, Lecturer in Digital Innovation and Entrepreneurship, Edinburgh Napier University

    The ever-advancing technologies of our digital age have transformed many industries, including – and perhaps especially – music. One of the most significant shifts has been the rise of DIY artists. These independent musicians take on roles traditionally held by record labels and managers, such as producing, recording, promoting and distributing their music.

    The ubiquitous nature of digital platforms has enabled artists to reach their audiences more directly. According to a study by MIDiA Research, independent artists generated over US$1.2 billion (£900 million) in 2020, accounting for 5.1% of the global recorded music market, reflecting how digital transformations continue to reshape the music industry.

    The COVID pandemic further accelerated this process, forcing artists to find new ways to connect with their audiences when live performances were no longer possible. Many independent musicians turned to digital platforms as crucial tools to engage with their fans and generate income.

    Platforms such as TikTok, Twitch, Instagram Live, YouTube, Patreon and Bandcamp saw a surge in usage as artists adapted to the new reality, showcasing their music to a global audience and attracting new fans who might have never discovered them otherwise. These platforms became lifelines for visibility and growth when traditional avenues were shut down.

    As a lecturer in digital innovation and entrepreneurship, my work looks at the relationship between digital transformation and DIY culture in the music industry and how it is changing the game for fledgling musicians and the business end of music too.

    DIY and artistic integrity

    The DIY ethos, rooted in independence and resistance to mainstream commercialisation, has evolved very successfully in the digital domain. Historically associated underground cultures, this ethos emphasises creativity, self-management and sustainability.

    DIY artists are often inspired by the punk movement, which championed autonomy and a do-it-yourself approach to music production and distribution. This ethos is now applied digitally, where artists use online platforms to stay independent while reaching a global audience, that in more analogue times would just not have been possible.

    One of the significant challenges DIY artists face is balancing artistic integrity with the ability to make a living. While digital platforms offer unprecedented opportunities for exposure and direct-to-fan (D2F) engagement, they also introduce new pressures and dependencies.

    For example, the algorithms that govern visibility on platforms like YouTube and Spotify can also be unpredictable, often favouring more commercial content over niche or experimental works, forcing artists to compromise their creative vision to achieve financial viability.

    While DIY artists are known for their self-sufficiency, some commercial artists have also adopted elements of the DIY approach, particularly in their use of digital platforms to bypass traditional industry structures.

    Being discovered and making money

    There are numerous success stories of DIY artists who have used digital platforms to build their careers commercially. For example, the British singer-songwriter Arlo Parks has gained significant recognition by blending personal experiences with broader social themes.

    Her success is a testament to the power of authenticity and the ability to connect with a diverse audience through digital platforms. Similarly, artists like Billie Eilish and (her brother) Finneas have shown how bedroom pop can achieve mainstream success, showing the potential of DIY approaches in the digital age.

    Social media platforms play a vital role in the success of DIY artists by helping audiences discover new talent. Platforms like Instagram and TikTok are particularly effective for reaching younger audiences and creating viral content. TikTok, for example, has over 1 billion active users worldwide, and its algorithm can propel a song to viral status overnight – significantly boosting an artist’s visibility and reach.

    Subscription platforms like Patreon, Bandcamp and YouTube enable artists to make money from their work directly. These platforms allow fans to financially support their favourite artists, offering exclusive content, early access to new releases and other perks in exchange for a subscription fee. This D2F model helps artists generate a steady income, enabling them to focus more on their creative endeavours while maintaining a direct connection with their audience.

    Despite the vast opportunities digital platforms create, DIY artists face big challenges, for example, in terms of financial instability. A recent report by Help Musicians revealed that 98% of musicians are worried about rising costs in the UK. An inability to make a proper living has led many artists to seek alternative income sources, such as crowdfunding and exclusive content through subscription services like Patreon.

    However, the pressure to maintain a consistent online presence can also affect mental health – as One Direction’s Liam Payne spoke about in the months before his death – making it essential for artists to balance D2F engagement and personal wellbeing.

    DIY artists like Clairo, who rose to fame through her self-produced online content, have also spoken of her struggles with the pressures of maintaining a public persona and the toll it can take on mental health.

    DIY communities operating within the digital domain thrive on mutual support and collaboration because artists support each other with production, promotion and distribution. This sense of community is crucial for maintaining the DIY ethos and managing the complexities of the digital domain.

    The future of music looks promising, with this intersection between DIY culture, creativity and digital platforms continuing to evolve and offer new opportunities for artists. The DIY music market grew by 7.6% between 2021 and 2024.

    However, for this growth to continue, these platforms must remain artist-friendly and provide fair compensation for creators. Independent musicians can thrive in the digital domain by embracing the DIY ethos and using digital platforms with the potential for global reach, D2F engagement, and diversified income streams, providing a robust foundation for sustainable careers.


    Looking for something good? Cut through the noise with a carefully curated selection of the latest releases, live events and exhibitions, straight to your inbox every fortnight, on Fridays. Sign up here.

    Paul G. Oliver 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. DIY musicians: how digital ‘bedroom pop’ has transformed the music industry – https://theconversation.com/diy-musicians-how-digital-bedroom-pop-has-transformed-the-music-industry-233364

    MIL OSI – Global Reports –

  • MIL-OSI: PCBB and Finzly Partnership Boosts International Payment Services

    Source: GlobeNewswire (MIL-OSI)

    WALNUT CREEK, Calif., Oct. 23, 2024 (GLOBE NEWSWIRE) — PCBB and Finzly, two leading innovators in the financial payments industry, have formed a strategic partnership to deliver enhanced international payment services to Finzly’s customers. PCBB is the first bankers’ bank to provide services to Finzly BankOS, a 24/7 real-time platform designed to help financial institutions accelerate their payment transformation.

    Integrating with PCBB’s payment services means access to straight-through processing of foreign wire transfers, Swift GPI tracking, and enhanced transparency into payment statuses. As a result, Finzly customers can process international wires faster, more easily, and with greater efficiency for a seamless cross-border payment experience.

    “We’re excited to enable integration of our services with Finzly BankOS. This collaboration not only enhances the payment capabilities of our partners, but also reinforces our position as a leading solutions provider in the financial services industry,” said Sheila Noll, Chief Operating Officer at PCBB. “We are continuously building strategic relationships that are focused on delivering seamless solutions to help financial institutions stay ahead in an evolving market.”

    Finzly equips financial institutions with speed and agility to transform their payment operations through its award-winning Finzly BankOS platform. Booshan Rengachari, founder and CEO of Finzly stated, “This partnership with PCBB perfectly aligns with our mission to empower customers to innovate and compete through customer-centric solutions. By broadening our partner ecosystem, we’re providing our customers with greater flexibility and control over their international payments, particularly in areas like pricing and liquidity management.”

    This new partnership underscores PCBB’s commitment to expanding the reach of its solutions with strategic API enablement. While this integration focuses on foreign wires, it taps into just one of the many APIs PCBB offers its customers, including domestic wires and international cash letter clearing. This latest integration aligns with PCBB’s goal of meeting customers where they are, offering flexibility and accessibility, while enhancing the overall experience for their end users. It’s another key step in advancing PCBB’s vision to deliver scalable and integrated financial solutions, including through innovative technology partnerships.

    About Finzly
    Finzly helps banks and credit unions thrive in a real-time, connected world with its BankOS platform. Financial institutions can quickly launch instant payments on FedNow and RTP, modernize ACH and wire transfers, and orchestrate payments through a unified API and ISO 20022-native payment hub. Finzly, recognized with multiple awards, also offers advanced FX solutions to help banks attract corporate and enterprise treasury customers. For more information, visit www.finzly.com.

    About PCBB
    PCBB believes in the power of local financial institutions to be the catalyst of small business growth and to enable communities to thrive. Our team is committed to providing not only the tools and knowledge our customers need to serve their clients, but also the partnership and trust they deserve. Our robust suite of competitive services includes cash management and international services, lending solutions, and profitability and risk management advisory services. These solutions help community financial institutions maximize revenue, increase efficiency, and manage risk. For more information, visit www.pcbb.com.

    Media Contact:
    Nancy Ozawa
    PCBB
    nozawa@pcbb.com
    (888) 399-1930 x177

    The MIL Network –

  • MIL-OSI United Kingdom: Defence Secretary John Healey opening remarks from Trinity House agreement press conference 23 October 2024

    Source: United Kingdom – Executive Government & Departments

    Defence Secretary John Healey delivered opening remarks alongside German defence minister, Boris Pistorius, after signing the Trinity House Agreement

    Location:
    Trinity House, London
    Delivered on:
    (Transcript of the speech, exactly as it was delivered)

    This is a significant day for UK relations and for both our countries. Less than 100 days since I first visited Berlin in July to kick off these negotiations together, we have today signed a landmark defence agreement here at Trinity House in London. First, I want to thank our negotiating teams, they worked at pace, and they have helped us secure a deal which forges closer cooperation between our militaries and our industries, which contains immediate actions and longer term ambitions. Today’s agreement strengthens our security, it will grow our economies.

    And you know, when I was Shadow Defence Secretary before the general election, I had conversations with allies and partners and academics that said Britain needed to play a bigger part in NATO. They said European allies needed to take on more responsibility for European security and this, this is the driving force behind our NATO, first UK Defence strategy, behind our reset of UK relations with Europe. We share the same threats, war in Ukraine, conflict in the Middle East, growing Russian aggression. We share the same values, democracy, individual freedom, rule of law.

    And in a more dangerous world, allies are our strategic strength, and we must do more together. But I believe then, as I know Boris, you did too, that the UK-Germany defence relationship was underdeveloped. The UK and Germany are currently Europe’s top two defence spenders. We’re currently Europe’s top two supporters of Ukraine in military and economic aid. Yes, there’s 40 years of great cooperation on fast jets between UK and Germany. Yes, both countries have deployed and operated together in Kosovo, in Afghanistan, and to counter IS. But the collaboration has been ad hoc. It has not been systematic, and there is no fully-fledged defence cooperation agreement. And as I started work on this area, with some of you in this room, and I thank you for your contributions. As I started work sometime last year, there were only 28 German military personnel training in the UK. There were only six Brits doing the same in Germany, we only had one bilateral German-UK defence industrial programme. So there was huge potential, which we both wanted to seize. The potential and imperative to respond to increasing threats to strengthen our collective security through NATO, which is the cornerstone for the defence of both our nations.

    So today, we have signed this landmark Trinity House Agreement. It secures defence cooperation across all domains, land, sea, air, cyber, space. It will be put on a legal footing in the wider treaty between the UK and Germany. The agreement confirms new lighthouse defence projects between our militaries, and where better to announce these than Trinity house, which is home of England’s official Lighthouse Authority and has been so since 1794. In fact, actually, it goes back longer than that, to Henry the Eighth, when he took the first steps to maritime regulation from this building in 1514. And Admiral Ian Lower, thank you for your hospitality, thank you for hosting us, and thank you to your teams for helping us organise this event.

    But in this new agreement, our new cooperation is focused on the now, with our army’s training, exercising, innovating more together on NATO’s eastern flank, on German P8 planes operating out of Lossiemouth to help protect the North Atlantic and on new support for Ukraine through the capability coalitions, and also enabling German seeking helicopters to be equipped with modern missile systems. So cooperation focused on the now, and also cooperation focused on the weapons of the future: developing a new deep strike system together; pursuing new drones that could operate alongside our tanks; our planes and our warships; kick starting work together to protect vital undersea cables in the North Sea; advancing innovation between our armies to shape the future of NATO warfare; driven by AI and emerging technologies. And as well as this, this agreement paves the way for closer industrial cooperation.

    So today, Rheinmetall have announced plans to build a new gun barrel factory in Britain, supporting 400 jobs, bringing nearly half a billion pounds of benefit to the UK economy, and reestablishing a critical defence industry for the first time in 10 years, gun barrels built in Britain with British steel for our British armed forces and for our allies. And from artillery to AI, from the weapons of now to the weapons of the future, Helsing have also confirmed today a new investment of 350 million pounds into the UK for the development of AI systems. So this shows today’s agreement gives renewed confidence to investors in the UK defence industrial base. Finally, just to give this a bigger context, our new government was elected in July to deliver change. Before with the election, we promised a new defence agreement with Germany in six months, we’ve signed this landmark agreement in less than four months. This is what turning talk into action looks like. This is what resetting relations with Europe looks like. This is what growing our economy looks like, and this is what a NATO first defence strategy looks like. And today’s agreement also sends a signal to our adversaries. We will deter and we will defend against any aggression together.

    Boris, I look forward to working closely with you in putting this agreement into action. Today really is only the start of new, deeper relations between our two nations. And yes, politicians may come and go, but the Trinity house agreement will live on, and it will keep our countries and Europe safely in the years to come. Thank you.

    Updates to this page

    Published 23 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI USA: A Message to the CAHNR Community on Low Completion/Enrollment Academic Programs

    Source: US State of Connecticut

    To the CAHNR Community,

    After recent coverage of UConn’s ongoing process to review academic programs with low completion and/or enrollment, we have heard from many of you with questions and concerns. We write today to respond to those questions and clarify the potential impact on CAHNR programs.

    First and foremost, we want to reassure students that the College’s existing academic programs will continue without disruption. CAHNR’s unique experiential learning opportunities in animal science, plant science, human health, resource economics, and the environment provide our alumni with specialized skills and are central to UConn’s land grant mission.

    As an institution that seeks to make data-driven decisions to align our programs with student and community needs, we regularly analyze and evolve academic offerings. This may mean adding new majors, renaming existing majors, consolidating programs, etc.

    In press coverage, incorrect statements were made about some CAHNR programs flagged as having low completion/enrollment. For example, it was stated that Animal Science was below the threshold for review. The Department of Animal Science graduated 400 students in the 5-year review window and is thus not below the threshold. Similarly, Horticulture, Turfgrass, and Soil Science were highlighted as “no enrollment,” which is true because they are no longer active majors. However, they are still offered as concentrations within the active Sustainable Plant & Soil Systems/Plant Science major.

    To reiterate information provided by University leadership earlier this week, UConn is not directing that any programs under review be closed or that any majors be ended.

    This remains true for CAHNR programs. The College is taking advantage of this opportunity to thoughtfully consider strategies to adapt, evolve, and update our programs, if needed, to ensure student success, robust professional opportunities, and responsible use of resources.

    Please do not hesitate to connect with your department or CAHNR’s Office of Academic Programs if you have additional questions or concerns.

    We thank you for your continued support of UConn and CAHNR.

    Sincerely,

    Indrajeet Chaubey
    Dean and Director

    MIL OSI USA News –

  • MIL-OSI USA: Governor Murphy Highlights More Than $1 Billion Investment in Child Care Sector Since Start of Administration

    Source: US State of New Jersey

    Governor Announces Additional $17 Million in American Rescue Plan Funding to Upgrade and Expand Child Care Facilities

    Murphy Administration Will Invest More Than $140 Million Upgrading Child Care Infrastructure Statewide – Representing One of the Largest Investments of Any State in the Country

    WEST ORANGE – Governor Phil Murphy today highlighted that his Administration has invested more than $1 billion in expanding access to high-quality, affordable child care across New Jersey. The Governor also announced an additional $17 million in funding for the New Jersey Economic Development Authority (NJEDA) Child Care Facilities Improvement Program. With these new resources, New Jersey is dedicating more than $140 million to improve child care infrastructure, representing one of the largest investments of any state in the country. The announcement was made at a child care center in West Orange that is expanding access to services thanks to funding from the NJEDA. 

    Building on the Murphy Administration’s comprehensive strategy to support the state’s vital child care sector, the NJEDA’s Child Care Facilities Improvement Program provides grants to eligible child care providers for improvements that contribute to high quality early childhood learning environments. Through the program, which awards grants of up to $200,000, the NJEDA has approved $85 million in grants to over 400 child care centers that collectively enroll over 34,000 children and employ over 8,500 staff. With the inclusion of new funding announced today, the NJEDA now anticipates another 200 centers will receive awards, bringing the total to more than 600 child care centers across all 21 New Jersey counties. Nearly a third of all awards are to centers located in Opportunity Zones.

    “Affordable, exceptional child care is a vital part of a stronger and fairer New Jersey economy, and the increased funding announced today will strengthen our state’s economic security and provide equitable opportunities to working parents,” said Governor Phil Murphy. “Increased access to high-quality child care allows more parents to return to the workforce, bolstering New Jersey’s economic growth and competitiveness. Thank you to the Biden-Harris Administration, who have provided record-high federal funding to expand access to child care, health care, and other critical resources for families in the Garden State.” 

    “Access to high-quality child care is a critical piece of our Nurture NJ initiative, and the NJEDA’s Child Care Facilities Improvement Program supports the equitable expansion of early childhood environments that will have lifelong impacts on future generations,” said First Lady Tammy Murphy. “Improvements to facilities in our crucially important child care sector move us closer to our goal of becoming the best state in the nation to raise a family and unlock economic opportunities for working parents.”

    With the additional $17 million in Federal American Rescue Plan State Fiscal Recovery Fund funding announced today, the NJEDA anticipates being able to approve all eligible child care centers that applied to Phase One of the program, which is no longer accepting new applications. A significant focus of the program is expanding or unlocking capacity within child care centers, especially for infants and toddlers. All construction work is delivered by New Jersey Department of Labor Registered Public Works Contractors and subject to prevailing wage and affirmative action monitoring.

    The Child Care Facilities Improvement Program is already making an impact on child care centers across the state. The center visited today, The Kids Palace II in West Orange, was approved for a grant award of $189,300 to install sprinkler and alarm systems, allowing it to expand its state licensure to be able to accept infants. In addition, the Kids Palace II has received the NJEDA’s Phase 4 Small Business Emergency grant, the NJEDA’s Henri/Ida Business Assistance grant, and New Jersey Department of Human Services’ Retention and Stabilization grants.

    “Reliable and high-quality child care services are critical to the growth and success of New Jersey’s economy; however, too often financially stretched child care providers forgo making necessary investments in facility upgrades,” said NJEDA Chief Executive Officer Tim Sullivan. “The Child Care Facilities Improvement Program is an essential part of Governor Murphy’s goal to support working families and to build a more inclusive economy.”

    “Governor Murphy’s historic investment in childcare is smart economic policy. By making high-quality childcare more accessible, we empower more parents, particularly moms, to fully engage in the workforce, advance their careers, and pursue further education. At the same time, we provide our youngest children with essential early learning experiences that set them up for school and academic success. This all leads to a stronger, more resilient economy where every family has the opportunity to thrive,” said Congresswoman LaMonica McIver.

    “Governor Murphy’s visit highlights the significance of the support we have received through this grant, which has been so important in helping us create a dedicated infant-toddler space in our center. We are deeply grateful for this opportunity to expand our services and positively impact more families in our community,” said Jorroys Reyes-Moton, Director and Owner of the Kids Palace II.

    “This investment continues the Murphy Administration’s commitment to support quality child care providers that are vital to New Jersey’s working families and the state economy. Today’s announcement complements $3.6 million in Fiscal Year 2025 child care provider wage increases and Human Services’ Child Care Assistance Program subsidies for tens of thousands of New Jersey families,” said Human Services Commissioner Sarah Adelman. “With a focus on improving learning environments, these NJEDA grants will empower child care providers to make necessary enhancements to their facilities, expand access to high-quality child care services, and strengthen our early childhood education system.”

    “A thriving, modern and robust child care industry is a key component in supporting working families in New Jersey,” said Department of Children and Families Commissioner Christine Norbut Beyer. “It gives young learners a foundation for academic success later in life, and gives parents options for world class child care and the peace of mind in knowing their child is being cared for in an updated and safe center. I applaud the Governor and my colleagues in NJ government for their ongoing investment in the stability and success of families throughout New Jersey — particularly those with young children.”

    “We thank the State of New Jersey for its substantial investment in child care facilities, recognizing that these environments are more than buildings—they are the ‘third teacher,’ fostering curiosity, social connection, and lifelong learning,” said Mary E. Coogan, President & CEO, Advocates for Children of New Jersey. “As we continue to shape spaces that empower children, educators, and families, we look forward to future investments in the child care workforce—another critical component of the child care infrastructure that is essential to the health of our economy and the well-being of our communities.”

    “SPAN appreciates the opportunity to celebrate New Jersey’s investments for and progress towards ensuring access to high-quality child care for families, allowing our children to thrive in enriching early learning environments,” said Peg Kinsell, Policy Director, SPAN Parent Advocacy Network.

    “NJPTA salutes Governor Murphy for his commitment to improve New Jersey’s child care sector. Our organization, the nation’s oldest child advocacy association, prioritizes quality child care which leads to an optimal educational experience. It is essential to provide affordable childcare services in all of our communities. This effort underscores Governor Murphy’s dedication to ensuring the educational success of our NJ children, and we’re thrilled that the grant will have a progressive impact in the child care sector,” said Sharon Roseboro, President, NJPTA.

    “New Jersey applauds Gov. Murphy’s administration for its investment in early childhood education. The $140 million will reap a 400 percent return, or $560 million, according to the Advocates for Children of New Jersey’s research. AFTNJ members know that such a substantial financial investment in preschool has long-lasting effects on academic achievement for the students enrolled in quality programs,” said AFT New Jersey President Jennifer S. Higgins.

    MIL OSI USA News –

  • MIL-OSI USA: Media Advisory: Governor Murphy to Lead Economic Mission to the United Kingdom

    Source: US State of New Jersey

    Trip Aims to Promote New Jersey’s Technology and Life Sciences Sectors and Economic Interests Abroad

    TRENTON – Governor Phil Murphy will lead a delegation of industry and government leaders on a five-day, two-city economic mission trip to the United Kingdom in November. Organized by Choose New Jersey, the delegation will visit London and Cambridge. The mission will focus on strengthening New Jersey’s ties with the United Kingdom while cultivating partnerships and international investment opportunities in sectors such as life sciences and technology.

    “We are excited to lead this economic mission to the United Kingdom to bolster New Jersey’s relationships with our friends and partners across the pond,” said Governor Murphy. “I look forward to meeting with United Kingdom officials and industry leaders to address our mutual goals. As we build up New Jersey’s innovation economy, international investments are key to attracting more jobs and opportunity for the people of the Garden State.”

    “The United Kingdom is one of New Jersey’s top markets for business attraction and economic cooperation, offering unparalleled opportunities to strengthen our partnership. This is an exciting opportunity to showcase our state’s leadership in technology, life sciences, renewable energy, and innovation,” said Wesley Mathews, President and CEO of Choose New Jersey. “By strengthening our international ties and fostering new partnerships, we aim to drive investment and increased trade that will benefit our state and the global economy.”

    The economic mission will include meetings with elected government officials and regional leaders, as well as various engagements with prominent companies, trade associations, leading academic institutions, and major investors. There will also be opportunities to network with industry leaders across key sectors, including technology, life sciences, renewable energy, artificial intelligence, and fintech. Veterans Day will be observed by members of the delegation on November 11 before their return to New Jersey.

    Governor Murphy will lead the delegation, which will include First Lady Tammy Murphy, Choose New Jersey President & CEO Wesley Mathews, and New Jersey Economic Development Authority Chief Executive Officer Tim Sullivan. The delegation will depart New Jersey on Wednesday, November 6, 2024 and return on Tuesday, November 12, 2024.

    Due to limited space, media interested in accompanying the Governor to the United Kingdom should contact Ingrid Austin at iaustin@choosenj.com as soon as possible.

    MIL OSI USA News –

  • MIL-OSI: Transom Capital-backed Artivo Surfaces Acquires Tom Duffy Company

    Source: GlobeNewswire (MIL-OSI)

    LIVONIA, Mich. and LOS ANGELES, Oct. 23, 2024 (GLOBE NEWSWIRE) — Artivo Surfaces, the Transom Capital-backed parent company of Virginia Tile, Galleher, and Trinity Hardwood, is acquiring Tom Duffy Company, a strategic move that significantly strengthens Artivo’s position as a market leader in the tile and flooring industry. With its extensive portfolio of installation materials, hardwood, luxury vinyl tile (LVT), and tile solutions, Tom Duffy brings valuable expertise and a diverse product offering to Artivo’s growing family of products and capabilities.

    “For over 70 years, Tom Duffy has earned its place as a trusted partner in the flooring industry,” said Sunil Palakodati, CEO of Artivo Surfaces. “This acquisition expands Artivo’s platform and strengthens our core capabilities. By bringing together Tom Duffy’s exceptional team, strong industry relationships, and loyal customer base, we’re enhancing our ability to serve residential and commercial markets across the country with a broader range of flooring solutions.”

    Anne Funsten, President, and CEO of Tom Duffy Company expressed her enthusiasm about joining Artivo Surfaces: “We are thrilled to become part of Artivo Surfaces. This partnership not only enables us to scale our business but also preserves the legacy we have built in an ever-changing market. Artivo’s forward-thinking vision and robust resources create the perfect foundation for our continued growth while allowing us to strengthen the trusted relationships we have nurtured over the decades.”

    “This acquisition marks an exciting milestone as Artivo continues to expand its reach and capabilities,” said Steve Kim, Principal at Transom Capital Group. “Tom Duffy has been well known in the West Coast for decades, and their inclusion in the Artivo family strengthens its ability to provide customers with even more comprehensive and innovative solutions. Tom Duffy is Transom Capital’s third acquisition in less than twelve months in this vertical, and we are proud to support Sunil and his leadership team in building a premier surfaces platform.”

    Kirkland & Ellis LLP served as legal advisor to Transom Capital and PNC Bank, N.A. and Blue Torch Capital provided debt financing for the transaction. Wood Warren served as the exclusive financial advisor and Sheppard, Mullin, Richter & Hampton LLP served as legal advisor to Tom Duffy.

    About Artivo Surfaces
    Artivo Surfaces is a multi-regional flooring company and parent company to the Virginia Tile, Galleher LLC, Trinity Hardwood Flooring and Tom Duffy brands. The company’s network covers 48 locations in over 18 states, and they provide a comprehensive range of flooring solutions from coast to coast. Its extensive portfolio features a diverse selection of ceramic, porcelain, natural stone, hardwood, luxury vinyl, and all necessary installation materials. Combining a century of expertise with innovative design and premium products, serving both residential and commercial markets. Artivo’s scale enables it to deliver industry-leading products and solutions while preserving the personalized, high-touch service its customers depend on. 

    About Transom Capital Group
    Transom Capital Group is an operations-focused private equity firm focused on investing in the middle market. The firm strives to create long-term value by partnering with established businesses and helping them navigate transformative growth. Transom’s functional pattern recognition, access to capital, and ARMORSM Value Creation Process, combined with management’s industry expertise, drive improved operational efficiency, top-line growth, cultural transformation, and distinctive outcomes. Transom is headquartered in Los Angeles, California.

    Media Contact
    Sam Butler for Transom Capital
    sam@35thAvenuePartners.com

    The MIL Network –

  • MIL-OSI: Canadian Net REIT Announces the Acquisition of a Grocery Store Property in Nova Scotia

    Source: GlobeNewswire (MIL-OSI)

    MONTRÉAL, Oct. 23, 2024 (GLOBE NEWSWIRE) — Canadian Net Real Estate Investment Trust (“Canadian Net” or the “Trust”) (TSX-V: NET.UN) is pleased to announce the acquisition of a grocery store property operated under the Sobeys banner in Truro, Nova Scotia. The total consideration paid was $9,000,000 (excluding transaction costs) and was settled in cash.

    “We are excited to announce the acquisition of a single-tenant grocery store, a strategic fit within our business model focused on high-quality, triple net and management-free assets,” said Kevin Henley, President and CEO. “This acquisition comes shortly after our announcement of recent dispositions, highlighting our ability to act swiftly in a dynamic market environment. We are seeing more opportunities emerge within our highly fragmented niche, alongside the advantages of lower interest rates. As a result, we remain focused on executing our disciplined growth strategy.”

    About Canadian Net – Canadian Net Real Estate Investment Trust is an open-ended trust that acquires and owns high-quality triple net and management-free commercial real estate properties.

    Forward-Looking Statements – This press release contains forward-looking statements and information as defined by applicable securities laws. Canadian Net warns the reader that actual events may differ materially from current expectations due to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such statements. Among these include the risks related to economic conditions, the risks associated with the local real estate market, the dependence to the financial condition of tenants, the uncertainties related to real estate activities, the changes in interest rates, the availability of financing in the form of debt or equity, the effects related to the adoption of new standards, as well as other risks and factors described from time to time in the documents filed by Canadian Net with securities regulators, including the management report. Canadian Net does not intend or undertake to update or modify its forward-looking statements even if future events occur or for any other reason, unless required by law or any regulatory authority.

    Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the Policy of the TSX Venture Exchange) accepts any responsibility for the adequacy or accuracy of this release.

    For further information please contact Kevin Henley at (450) 536-5328.

    The MIL Network –

  • MIL-OSI USA: Beatty & Waters Lead Call for Stronger, More Accountable IFIs

    Source: United States House of Representatives – Congresswoman Joyce Beatty (3rd District of Ohio)

    WASHINGTON, DC –  Today, Congresswoman Joyce Beatty (D-OH), the Ranking Member of the Subcommittee on National Security, Illicit Finance, and International Financial Institutions, and Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee announced plans this week to introduce a legislative package aimed at strengthening and reforming the International Financial Institutions. With the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group underway, this bill will help initiate reforms related to transparency, accountability, and institutional management. Specifically, this bill seeks to hold accountable the persons involved in the child sexual abuse scandal at the Bridge Academies project in Kenya, eliminate onerous loan conditions on developing or distressed countries, improve the debt forgiveness efforts of the IFIs, reduce reliance on Russian agriculture, combat corruption, and more.

    “Countries around the world continue to face significant social and economic challenges, from corruption and human rights abuses to debt sustainability crises and the disastrous effects of climate change,” said Congresswoman Beatty. “International Financial Institutions (IFIs) have done substantial work to promote financial stability, poverty reduction, and economic development, but they can do more to address systemic inequities and facilitate debt relief for distressed countries. I am proud to join Ranking Member Waters in introducing this package of meaningful reforms to increase transparency and accountability at the IFIs, strengthen support for low-income countries, and establish robust human rights protections.”

    “Over the years, our International Financial Institutions (IFI) have played a crucial role in establishing international order and addressing some of the most pressing economic challenges across the globe,” said Congresswoman Waters. “Despite this success, there have been troubling instances of child abuse, corruption, discrimination, and mismanagement that has hindered IFIs from reaching their full potential. I am eager to advance this bill to the President’s desk and look forward to working across the aisle on ways to strengthen the IMF, World Bank and other Development Banks so that they can create a more equitable and prosperous global economy.”

    Key provisions in the legislative package include:

    • Treasury Report on Accountability of the World Bank in Child Sexual Abuse – This provision would mandate that Treasury report to Congress on a quarterly basis on actions completed by the World Bank to compensate survivors of child sexual abuse, including with financial compensation and other relief, and to hold accountable those involved in the Bridge Academies project. The quarterly report to Congress must also include details of reforms adopted by the International Finance Corporation (IFC) to prevent such failures in the future, as well as any steps taken by the IFC to impede Treasury from sharing any information around this report or the Bridge Academies case with Congress.
    • Anti-corruption measures in lending agreements – This provision states that the US press for the incorporation of anti-corruption measures in lending agreements at the IMF to build sustainable economies. Such measures must include ensuring that governments receiving loans make specific, measurable, and time-bound commitments as part of the loan agreements, with consequences for noncompliance. 
    • Protections for human rights, including LGBTQ+ persons – This provision would mandate that Treasury oppose the World Bank providing financial assistance to countries that engage in the human rights abuses as reported in the State Department’s Annual Country Reports on Human Rights Practices, including those of people who identify as LGBTQ+.
    • Loan Conditions – This provision states that the U.S. encourage the reduction or elimination of loan conditions that: limit spending on key social needs such as health, education, or climate action; weaken environmental, labor, public health regulations; or increase taxes or reduce subsidies in such a way that falls regressively on recipient country populations.
    • Reporting on Human Rights Abuses in For-Profit Healthcare – This provision mandates that Treasury report to Congress on a biannual basis on any known accusations made by community groups, CSOs, media, or other credible actors, of human rights abuses at MDB-funded, for-profit hospitals, included those funded by the IFC, and on actions completed by the MDB private sector arms to investigate and address or respond to these accusations. This provision also mandates that the U.S. advocate for the MDBs to examine their investments in healthcare to determine contribution to universal health coverage, the strengthening of national health systems, and the reduction of health inequities.
    • Resilience and Sustainability Trust (RST) Financing – This provision would amend the most recent appropriations law so that U.S. money could be used to finance loans to the RST in addition to the Poverty Reduction and Growth Trust. This is important because the Republicans cut the RST out from potentially receiving loans. 
    • Quota Increase – This provision would authorize an equiproportional increase in quota at the IMF consistent with the increase Treasury negotiated with the IMF Member countries. If Congress passes this provision the US would retain its veto power and percent of shareholding at the IMF and China’s share would not increase (even though it probably should based on its growth). At the IMF, Member countries’ maximum financial commitments to the Fund are called “quota.” Quota is broadly matched to a Member country’s relative position in the world’s economy, and voting shares at the IMF are in line with how much quota a country pays. This was in President Biden’s most recent budget request.

    Read the full bill here.
    Read the Section by Section here.

    For media inquiries, please contact Cassandra.Johnson@mail.house.gov.

     

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    MIL OSI USA News –

  • MIL-OSI USA: Submit Your 2025 Event Proposal to NASA

    Source: NASA

    NASA is making event plans for the 2025 calendar year, and we want to pencil you in! We are looking for the Midwest’s biggest and best community events with the broadest audiences to share NASA’s content and raise awareness of the agency’s most exciting aeronautics and space missions. NASA’s Glenn Research Center in Cleveland is leading the agency’s efforts to inspire the Midwest through engagement.

    Interested organizations can submit an event proposal to Glenn now through Nov. 18, 2024. Those selected will receive notification via email by Dec. 31, 2024. Through this collaboration, selected organizations will gain access to NASA exhibits and artifacts, hands-on demonstrations, STEM and internship opportunities for students and educators, NASA’s innovative technology, and experts that align to the topics and themes of their events.

    NASA is seeking:

    Organizations with direct community connections and an established event that reaches diverse audiences. 
    Events scheduled to occur between Jan. 1, 2025, and Dec. 31, 2025.
    Events that are mutually beneficial – where a NASA presence will enhance the event experience and raise awareness of NASA’s contributions to the advancement of aeronautics and space exploration.

    Selected organizations must agree to the following:

    Attend virtual planning meetings through an online business communication platform.
    Work with NASA Glenn’s Office of Communications when coordinating marketing, media communications, and logistics as described in the event proposal.
    Adhere to NASA Media Usage Guidelines for NASA media and logos.
    Provide final attendance data within two weeks of the conclusion of the event including the following:

    Number of attendees
    Estimated percentage of attendees from underrepresented audiences

    All proposals are to be submitted through the online proposal form. Proposals must be submitted by 11:59 p.m. Eastern on Nov. 18, 2024. Only proposals submitted online will be accepted.
    Proposal Review Process
    Proposals will be evaluated and scored, and selections will be made using the following criteria:

    Estimated audience size.
    Percentage of audience from underserved and/or underrepresented communities as defined below.

    For purposes of this solicitation, underserved and/or underrepresented communities include Black, Latino, and Indigenous and Native American persons, Asian Americans and Pacific Islanders and other persons of color; members of religious minorities; lesbian, gay, bisexual, transgender, and queer (LGBTQ+) persons; persons with disabilities; persons who live in rural areas; and persons otherwise adversely affected by persistent poverty or inequality. (Source: NASA’s Mission Equity).

    Alignment of the program’s goals and objectives to those of this opportunity.
    Plans to maximize audience participation through marketing and media communications.
    Evidence of historical attendance at this or similar events hosted by the proposing organization.

    Proposing organizations will be notified of their selection status by Dec. 31, 2024.

    If you have questions about this opportunity or the online proposal form, contact NASA Glenn’s Office of Communications: GRC-Public-Engagement@mail.nasa.gov.

    Solicitation posted: Oct. 23, 2024Proposal form URL: https://osirris.grc.nasa.gov/request/request.cfmProposal submission deadline: Nov. 18, 2024Notification of event selection: Dec. 13, 2024 

    NASA’s Glenn Research Center designs, develops, and tests innovative technology to revolutionize air travel, advance space exploration, and improve life on Earth. As one of 10 NASA centers, and the only one in the Midwest, Glenn is a vital contributor to the region’s economy and culture. Many NASA missions have Glenn contributions, and every U.S. aircraft has NASA Glenn technology on board, making flight cleaner, safer, and quieter.

    MIL OSI USA News –

  • MIL-OSI China: China becomes largest online retail market for 12 years

    Source: China State Council Information Office

    A press conference on ensuring market supply and promoting consumption during the Spring Festival is held by the State Council Information Office in Beijing, capital of China, Jan. 24, 2025. (Xinhua/Pan Xu)

    China has become the world’s largest online retail market for 12 consecutive years, with online retail sales reaching 15.5 trillion yuan (about 2.16 trillion U.S. dollars) in 2024, the Ministry of Commerce said Friday.

    China’s wholesale and retail industries have made steady progress driven by various policies, providing strong support for expanding domestic demand and forging a new development paradigm, Vice Commerce Minister Sheng Qiuping told a press conference.

    Sheng said that the added value of the wholesale and retail industries reached 13.8 trillion yuan in 2024, accounting for 10.2 percent of the GDP and playing a vital role in smoothing circulation, creating jobs and reducing logistics costs.

    The ministry will work with relevant departments to further enrich supporting policies, implement detailed measures and accelerate the promotion of high-quality development of wholesale and retail industries, so as to further smooth the circulation of the national economy, Sheng added. 

    MIL OSI China News –

  • MIL-OSI Canada: Deputy Prime Minister to attend G7 and G20 Finance Ministers’ Meetings and Annual Meetings of the IMF and World Bank

    Source: Government of Canada News

    News release

    October 23, 2024 – Ottawa, Canada – Department of Finance Canada

    This week, from October 23 to 25, the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, will attend the Fall Meetings of G7 and G20 Finance Ministers and the Annual Meetings of the International Monetary Fund (IMF) and World Bank in Washington D.C.

    At these meetings, the Deputy Prime Minister will advance work with Canada’s allies to strengthen supply chains with trusted trading partners to create jobs and economic growth that is shared by all Canadians.

    While in Washington, the Deputy Prime Minister will discuss with allies further efforts to support Ukraine through to victory and into reconstruction. Canada was an early champion of G7 efforts to make full use of frozen Russian sovereign assets, and provided a CA$5 billion (US$3.7 billion) contribution to the G7’s CA$68 billion (US$50 billion) Extraordinary Revenue Acceleration Loans for Ukraine. 

    The Deputy Prime Minister will further Canada’s work to build resilient economies and reduce economic inequalities—as demonstrated by the government’s historic investments in early learning and child care, national dental care coverage, and free contraception and diabetes medication. The Deputy Prime Minister will also advance Canada’s work on international tax cooperation.

    An itinerary of events will be released in advance of the meetings.

    Quotes

    “Canada is leading the G7 in cutting interest rates four times this year and reducing inflation to target for all of this year. The wages of Canadian workers have outpaced inflation for 20 months. And, the IMF expects Canada’s economic growth to be the best in the G7 next year. Together, Canada and our allies are working to ensure recent economic gains are not unwound, but rather built upon, so we can create more good-paying jobs, help people get ahead, and build a fairer future for every generation.”

    – The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance

    Quick facts

    • Canada is leading the G7 in:

      • Cutting interest rates; the first to cut rates twice, the first to cut rates a third time, and now the first to cut rates a fourth time;
      • Economic growth expectations, with the IMF predicting that Canada’s GDP will be the fastest growing in 2025;
      • Maintaining the lowest net debt-to-GDP ratio—by a significant margin—in the G7; and,
      • Securing AAA credit ratings from at least two of the world’s three major credit rating agencies, along with only Germany.

    • Inflation has been within the target range of 1 per cent to 3 per cent for all of 2024, with inflation in Canada falling to 1.6 per cent in September—a 43 month low. 

    • Wages in Canada have outpaced inflation for 20 months in a row, which means Canadian workers today on average have larger pay cheques, even accounting for inflation, than they did before the pandemic.

    • The Annual Meetings of the IMF and World Bank, which generally take place in October, have customarily been held in Washington for two consecutive years and in another member country in the third year.

    Contacts

    Media may contact:

    Katherine Cuplinskas
    Deputy Director of Communications
    Office of the Deputy Prime Minister and Minister of Finance
    Katherine.Cuplinskas@fin.gc.ca

    Media Relations
    Department of Finance Canada
    mediare@fin.gc.ca
    613-369-4000

    General enquiries

    Phone: 1-833-712-2292
    TTY: 613-369-3230
    E-mail: financepublic-financepublique@fin.gc.ca

    Stay Connected

    MIL OSI Canada News –

  • MIL-OSI USA: BOYLE, CASEY, FETTERMAN, EVANS, SCANLON AND PARKER ANNOUNCE $27.5 MILLION INFRASTRUCTURE FUNDING FOR PHILADELPHIA INTERNATIONAL AIRPORT

    Source: United States House of Representatives – Congressman Brendan Boyle (13th District of Pennsylvania)

    Funding will be used to upgrade terminals, including modernizing HVAC and electrical systems. With this funding, PHL has received more than $347 million in federal funding since the start of 2021

    WASHINGTON, DC – Today, Congressman Brendan F. Boyle (D-PA-02), along with U.S. Senators Bob Casey (D-PA) and John Fetterman (D-PA), U.S. Congresswoman Mary Gay Scanlon (D-PA-5), Congressman Dwight Evans (D-PA-3), and Philadelphia Mayor Cherelle L. Parker announced that Philadelphia International Airport is receiving $27,500,000 in new federal infrastructure funding from the U.S. Department of Transportation (DOT). This funding comes from the Airport Terminal Program (ATP), which was created by the bipartisan Infrastructure Investment and Jobs Act (IIJA) to revitalize the Nation’s aging airports. 

    “The IIJA funding award, which I supported, is more than just an investment in infrastructure”, said Congressman Boyle. “It strengthens one of our region’s key economic drivers. By improving the efficiency of the internal infrastructures of the airport facility, we create smoother operations, draw more visitors, and deliver a top-tier experience for global travelers. This funding reaffirms my dedication to keeping Philadelphia International Airport a vital hub, fueling growth and prosperity for our community and beyond.”

    “Philadelphia International Airport serves as a vital transportation and economic gateway to the rest of the Commonwealth and the world,” said Senator Casey. “This investment from the infrastructure law will help modernize the airport by upgrading HVAC and electrical systems in Terminals D and E. I will always fight for investments that boost Southeastern Pennsylvania’s economy and keep the region moving.”

    “It’s investments like this that help keep Philadelphia a world-class city with world-class infrastructure. This $27.5 million for terminal energy upgrades guarantees that the commonwealth’s largest airport stays efficient, resilient, and ready for the future. That’s how we keep Philly competitive and connected,” said Senator Fetterman.

    “I’m pleased to see another $27.5 million in federal funding that I voted for coming to Philadelphia! The airport has also received other federal funding for improvements through the Biden-Harris administration’s Infrastructure Investment and Jobs Act, and this will all benefit people traveling from and to our area, along with our local economy,” said Congressman Evans.

    “I’m proud to see PHL earning the competitive grants we authorized in the Bipartisan Infrastructure Law, bringing good jobs to our region as PHL upgrades its terminals.” said Congresswoman Scanlon. “Modernizing our region’s airport infrastructure will improve air travel for passengers and position our local economy for success in an increasingly competitive global economy.”

    “It is tremendous news that our Philadelphia International Airport will be receiving $27.5 million from the Federal Aviation Administration to help with important HVAC and energy efficiency projects,” said Philadelphia Mayor Cherelle L. Parker. “Every single federal grant or funding allocation coming into Philadelphia is because of the hard work of all our federal partners, including Senator Casey and every member of our delegation, along with the support of the Biden-Harris administration.  It’s another step forward for Philadelphia, and we are profoundly grateful.”

    The funding for Philadelphia International Airport will support improvements to the existing upper levels of portions of Terminals D & E that have reached the end of their useful lives, including HVAC and electrical efficiency upgrades and improvements. PHL has received a total of $374,545,577 in federal investments since the start of 2021. 
    ###

    MIL OSI USA News –

  • MIL-OSI Security: New Bern Man Pleads Guilty for Posing as Landlord to Fraudulently Collect Nearly $150,000 in COVID-19 Rental Assistance

    Source: Office of United States Attorneys

    RALEIGH, N.C. – New Bern resident Anthony Lynch, 35, pled guilty to charges that he defrauded a program designed to help struggling North Carolina residents stay in their homes during the COVID-19 pandemic.

    “Mr. Lynch exploited a taxpayer-funded program meant to support struggling families and individuals trying to stay in their homes during an unprecedented global pandemic,” said U.S. Attorney Michael Easley. “Lynch sought nearly $400,000 in emergency federal funds in 25 separate relief applications. His ill-gotten profits have now landed him a federal conviction.”

    According to court documents and other information presented in court, Lynch pled guilty to one count of mail fraud for falsely claiming to be the landlord of properties in Craven, Pamlico and Onslow Counties with renters who were unable to pay rent due to the COVID-19 pandemic.  Lynch submitted 25 applications to the North Carolina Housing Opportunities and Prevention of Evictions Program (NC HOPE), which was established during the pandemic to provide emergency rental assistance to tenants who struggled to pay rent and therefore faced eviction due to financial difficulties caused by the pandemic.

    Despite having no ownership or management responsibilities for any of the properties listed in the 25 applications he submitted, Lynch requested nearly $400,000 in emergency federal funding.  His fraudulent applications resulted in 11 checks, totaling $144,000 being mailed to Lynch at his home in New Bern.  He faces up to 27 months in prison, if convicted.     

    The NC HOPE Program administered federal COVID-19 relief funds and provided emergency rental assistance to North Carolina renters who faced eviction and homelessness during the pandemic.  The program allowed renters to submit an online application to apply for rental assistance.  If approved, the program paid the tenant’s rent, in checks sent directly to the landlord, for up to 15 months of overdue or future rent payments.

    Michael F. Easley, Jr., U.S. Attorney for the Eastern District of North Carolina, made the announcement after the guilty plea was accepted by Chief United States District Judge Richard E. Myers.  The United States Department of Housing and Urban Development, Office of Inspector General; the United States Department of Treasury, Office of Inspector General; and the North Carolina State Bureau of Investigation investigated the case and it is being prosecuted by Assistant U.S. Attorney Karen Haughton.

    Related court documents and information are located on the website of the U.S. District Court for the Eastern District of North Carolina or on PACER by searching for Case No. 4:24-cr-00061.

    MIL Security OSI –

  • MIL-OSI USA: Wyden, Colleagues Slam McDonald’s for Squeezing Customers with Excessive Price Increases

    US Senate News:

    Source: United States Senator Ron Wyden (D-Ore)
    October 23, 2024
    “Corporate profits must not come at the expense of people’s ability to put food on the table.”
    Washington, D.C. – U.S. Senator Ron Wyden, D-Ore., said today he has joined with Senators Elizabeth Warren, D-Mass., and Bob Casey, D-Pa. to press McDonald’s for more information on the company’s pricing decisions as fast food prices continue to increase, outpacing inflation and squeezing customers. 
    “While McDonald’s is not the only fast food restaurant that has increased prices significantly in recent years, its dominant market position as the largest fast food chain in the United States has an outsize impact on American consumers. While working families are trying to make ends meet, McDonald’s and its corporate counterparts have continued to grow their profits,” the senators wrote to McDonald’s President and Chief Executive Officer Chris Kempczinski .
    Earlier this year, McDonald’s USA President Joe Erlinger tried to blame the company’s menu price increases on inflationary pressures and input costs, but the data tells another story. Since the COVID-19 pandemic, fast food prices have consistently outpaced inflation, and since 2020, overall inflation has increased by 20 percent, while McDonald’s has increased its menu prices for several items substantially more. McDonald’s net annual income rose by over 79 percent – nearly $8.5 billion, from 2020 to 2023.
    While McDonald’s raised prices, the company also spent nearly $4 billion on stock buybacks in 2022 and $3 billion in 2023. The company also benefits from a tax loophole that favors buybacks. This prioritizes Wall Street shareholders over investments in McDonald’s own business and workers. 
    “Corporate profits must not come at the expense of people’s ability to put food on the table,” concluded the senators. “As we seek to investigate and understand the increased consumer costs in the economy, we hope McDonald’s will help us to understand why its prices have risen so high.”
    The text of the letter is here.

    MIL OSI USA News –

  • MIL-OSI USA: Warner Announces New Federal Application for Individuals Looking to Separate Joint Consolidated Student Loans

    US Senate News:

    Source: United States Senator for Commonwealth of Virginia Mark R Warner
    WASHINGTON – Today, U.S. Sen. Mark R. Warner (D-VA) issued the statement below in response to a new form released by the U.S. Department of Education, which has begun to accept applications from joint consolidation loan borrowers seeking to separate their loans.
    This announcement and new application follows longtime efforts by Sen. Warner to provide relief for individuals who previously consolidated their federal student loan debt. Borrowers who consolidated their student debt with a spouse, did so under a program that was created by Congress and subsequently eliminated without providing a way for spouses to sever existing loans – even in the event of domestic violence, economic abuse, or an unresponsive partner. In 2022, Sen. Warner secured the passage of the Joint Consolidation Loan Separation Act of 2021 in order to help borrowers who remain liable for their abusive or uncommunicative spouse’s portion of their consolidated debts. In July of 2024, Sen. Warner hailed new Ed implementation guidance that today culminates in the launch of this new application.
    “Two years after getting the Joint Consolidation Loan Separation Act into law, I’m proud to say that borrowers can now apply to separate their joint consolidation loans. While this took longer than I had hoped for, I have no doubt that it brings a sigh of relief to so many borrowers who remain trapped in financial agreements with unresponsive or abusive ex-spouses, and unable to access important loan forgiveness programs. I’m proud to have written the law that’s bringing this process to life and I’m glad to see the Department of Education take such a significant step towards freeing borrowers from these burdensome loans,” said Sen. Warner.
    Through the new Department of Education form, borrowers are able to submit a:
    Joint Application: Both co-borrowers submit individual App/Notes to the Department, which will separate the JCL and create a new, individual Direct Consolidation Loan for each individual; or,
    Separate Application: An individual JCL applicant submits an App/Note to the Department without regard to whether or when the co-borrower applies, if the applicant has experienced an act of domestic violence or economic abuse from the other co-borrower, or if they are unable to reasonably reach or access the loan information of the other co-borrower.
    Once the loans are separated, the applicants’ loan obligation will be consolidated into a Direct Consolidation Loan if both borrowers completed the joint application process. For those who submit a separate application, the loan obligation will follow the same process as the joint application process, but if the remaining co-borrower does not complete an application, their loan obligation will remain a JCL with one borrower.
    Sen. Warner’s Joint Consolidation Loan Separation Act, originally introduced in 2017, was inspired by Sara, a constituent from McLean, Virginia who contacted Sen. Warner to communicate her struggles with a joint consolidation loan. Sara was raising two children on a public school teacher’s salary in Northern Virginia and trying to keep up with payments on her student loans. Unfortunately, her ex-spouse, whom she had divorced and moved thousands of miles away from to start fresh, refused to pay his share of their joint loan. Because joint consolidation loans create joint and several liability for borrowers, Sara faced the threat of having her wages as a public school teacher garnished if she did not pay both her and her ex-husband’s portions of their debt. Sen. Warner did not think this was fair and sought to create a solution, so that constituents like Sara could control their own financial futures. You can hear Sen. Warner tell Sara’s story here.

    MIL OSI USA News –

  • MIL-OSI USA: Schumer, Gillibrand Announce Over $11 Million In Federal Funding For Airports Across New York State

    US Senate News:

    Source: United States Senator for New York Kirsten Gillibrand

    Today, U.S. Senate Majority Leader Charles E. Schumer and U.S. Senator Kirsten Gillibrand announced $11,195,520 in federal funding to strengthen infrastructure and rehabilitate facilities at four airports across New York State. The funding, granted through the U.S. Department of Transportation’s Airport Terminal Program, will finance projects that address reconstruction and expansion at New York’s airports. The projects include constructing and rehabilitating air traffic control towers, expanding airport terminals and roadways, and upgrading HVAC and security systems.

    “When I became majority leader, I promised to deliver the federal funding needed to support much-needed infrastructure improvements at New York’s airports, and that is just what we delivered when created the Airport Terminal Program in our Bipartisan Infrastructure & Jobs Law. With this $11+ million in federal funding, long overdue upgrades such as new control towers and expanded terminals at airports from Long Island to Western NY are now ready for take-off!” said Senator Schumer. “Upgrading terminals means more jobs, increased safety, and smoother travel experiences, and I’m proud that the program is continuing to help New York reach new heights.”

    “This significant federal investment of more than $11 million through the Airport Terminal Program will bring much-needed infrastructure modernization to airports across New York State,” said Senator Gillibrand. “Funding like this is vital for the safety and security of passengers and airport employees. I am proud to announce these awards and will continue fighting to deliver critical funding to airports across New York State.”

    A full list of funding recipients can be found below:

    Region Awardee Project Description Federal Funding
    Long Island Francis S. Gabreski Airport Air traffic control tower construction $1,000,000
    Mohawk Valley Griffiss International Airport Air traffic control tower rehabilitation $1,750,000
    North Country Adirondack Regional Airport Terminal expansion and reconstruction $500,000
    Western NY Buffalo Niagara International Airport Airport terminal roadway rehabilitation $7,945,520

    MIL OSI USA News –

  • MIL-OSI USA: Money to Advance Zero-Emission Homes in New York

    Source: US State of New York

    Governor Kathy Hochul today announced $10 million is now available to advance new zero-emission homes in New York State. The Building Better Homes – Zero Emission Homes for Healthier Communities program incentivizes the design, construction and marketing of new clean and resilient single-family homes and townhomes and provides training and technical support to builders and developers. Advancing zero-emission new construction across the state will reduce emissions, improve indoor air quality, and create healthy, comfortable and resilient living environments for all New Yorkers.

    “New homes built to the latest clean energy and efficiency standards will ensure greener, healthier housing is available to all New Yorkers while helping pave the way toward a more sustainable future,” Governor Hochul said. “This investment is another part of the State’s comprehensive strategy to transform the new construction market, curb emissions, and ensure fewer homes and buildings rely on fossil fuels.”

    The Building Better Homes – Zero Emission Homes for Healthier Communities Program, administered by the New York State Energy Research and Development Authority (NYSERDA), provides funding on a first come, first served basis to builders and developers that commit to designing, constructing and growing market awareness and demand for new zero emission single-family homes and townhomes. Projects must meet performance requirements and third-party certification criteria that address clean energy, above code energy efficiency, and resiliency, including heating, ventilation, and air conditioning (HVAC) systems that remain operable during power outages or include backup power sources that can be used in the event of a power outage.

    New York State Energy Research and Development Authority President and CEO Doreen M. Harris said, “Bringing builders and developers resources to advance zero-emission new construction is at the heart of Governor Hochul’s commitment to build homes that are healthy, comfortable, and maximize consumer control over energy use. This program continues NYSERDA’s long history of working with the market to bring the latest in energy and efficiency measures to more New Yorkers.”

    The base incentive per home is up to $7,000 and up to $4,000 for townhomes. Homes located in disadvantaged communities, as defined by the Climate Justice Working Group, will be eligible for the higher incentive amount with an additional $1,000 offered per project in these areas. Funding is also available for Passive House training of staff and contractors to help develop the expertise needed to effectively incorporate these standards into new homes.

    Applications for a single home, townhome or multiple homes and townhomes within a housing subdivision will be accepted through December 31, 2025, by 3 p.m. ET or until funds have been exhausted. For more information on this opportunity, including eligibility requirements, please visit NYSERDA’s website.

    This program is part of the Building Better Homes Initiative, which is designed to advance market awareness of zero-emission building practices and provide resources that can be distributed to consumers about the benefits of them. Benefits to consumers include improved indoor air quality, reducing the potential for asthma and allergies, and more comfortable living, all resulting from modern, high-performance appliances, such as induction cooktops, convection ovens, and clothes washers with integrated heat pump dryers.

    Zero-emission homes are also more likely to operate seamlessly during power outages due to incorporating passive resiliency and survivability measures. With more than 10,000 new homes being built per year in New York State, working with the home building market to reduce emissions is critical to making progress toward the State’s climate and energy goals, including the Governor’s goal to achieve two million climate-friendly homes by 2030.

    Buildings are one of the most significant sources of greenhouse gas emissions in New York State, and through NYSERDA and utility programs, more than $6.8 billion is being invested to decarbonize buildings. By improving energy efficiency in buildings and advancing statewide installations of onsite storage, renewables, and electric vehicle charging equipment, the State will reduce its carbon emissions and advance toward the ambitious target of reducing on-site energy consumption by 185 TBtu by 2025, the equivalent of powering 1.8 million homes.

    This program is funded through the State’s Clean Energy Fund (CEF).

    New York State’s Nation-Leading Climate Plan

    New York State’s climate agenda calls for an orderly and just transition that creates family-sustaining jobs, continues to foster a green economy across all sectors and ensures that at least 35 percent, with a goal of 40 percent of the benefits of clean energy investments, are directed to disadvantaged communities. Guided by some of the nation’s most aggressive climate and clean energy initiatives, New York is advancing a suite of efforts – including the New York Cap-and-Invest program (NYCI) and other complementary policies – to reduce greenhouse gas emissions 40 percent by 2030 and 85 percent by 2050 from 1990 levels. New York is also on a path to achieving a zero-emission electricity sector by 2040, including 70 percent renewable energy generation by 2030, and economy-wide carbon neutrality by mid-century. A cornerstone of this transition is New York’s unprecedented clean energy investments, including more than $28 billion in 61 large-scale renewable and transmission projects across the State, $6.8 billion to reduce building emissions, $3.3 billion to scale up solar, nearly $3 billion for clean transportation initiatives and over $2 billion in NY Green Bank commitments. These and other investments are supporting more than 170,000 jobs in New York’s clean energy sector as of 2022 and over 3,000 percent growth in the distributed solar sector since 2011. To reduce greenhouse gas emissions and improve air quality, New York also adopted zero-emission vehicle regulations, including requiring all new passenger cars and light-duty trucks sold in the State be zero emission by 2035. Partnerships are continuing to advance New York’s climate action with more than 400 registered and more than 130 certified Climate Smart Communities, nearly 500 Clean Energy Communities, and the State’s largest community air monitoring initiative in 10 disadvantaged communities across the State to help target air pollution and combat climate change.

    MIL OSI USA News –

  • MIL-OSI Global: Bank of Canada’s latest interest rate cut: Monetary policy is not enough to address economic issues on its own

    Source: The Conversation – Canada – By Sorin Rizeanu, Assistant Professor, Gustavson School of Business, University of Victoria

    The Canadian and American economies are deeply intertwined. With the United States Federal Reserve cautious amid mixed signals from the labour market and rising inflation worries, the Bank of Canada has just lowered its key interest rate to 3.75 per cent – cutting it by half a percentage point.

    Strong U.S. job growth and cooling inflation could result in a smaller Fed rate cut compared to its previous cut and to Canada’s recent cut. It could also pause the rate entirely, which may change economic conditions in the U.S. and Canada in the months to come. Upcoming U.S. elections complicate the problem further.

    In Canada, cooling inflation, slowing manufacturing sales and more cautious consumer spending opens the door to another half percentage point rate cut by the end of the year.

    But does the Bank of Canada have the ability to offset shifts in U.S. monetary policies through its own monetary instruments? In fact, how much room does it have to diverge from U.S. policy at all?

    Monetary conditions are transmitted from the world’s biggest financial centres to the rest of the world through gross credit flows and leverage. Any policy differences between Canada and the U.S. immediately impact Canada, including spillover effects on the loonie exchange rates and other widespread economical and social effects.

    Canada’s double trilemmas

    Canada’s key challenges include economic growth as a potential recession looms, taming inflation, housing, managing interest rates while private and public debt is sky-high and stabilizing Canada’s commodity-linked currency in an increasingly volatile geopolitical environment. Failing to address these challenges could lead to severe systemic imbalances.

    A country cannot have an independent monetary policy, stable exchange rate and free capital flows simultaneously. It must choose one side of this triangle and give up the opposite corner.
    (Sorin Rizeanu), CC BY-ND

    The Bank of Canada has good reasons to cut the interest rate back to 2.5 to 3.5 per cent, but this could have a significant impact on the loonie.

    Canada is facing two sets of trilemmas: a monetary one for the central bank and a fiscal one for the government. On the monetary side, stable exchange rates, independent monetary policy and financial market openness are three objectives that cannot all be achieved simultaneously. European countries have sacrificed monetary independence in exchange for a strong euro and financial openness.

    It’s impossible for policymakers to pursue all three choices at the same time. For instance, a country spending more without raising taxes has to increase public debt and deficit.
    (Sorin Rizeanu), CC BY-ND

    Canada, in contrast, has opted for free capital mobility and independent monetary policy at the expense of exchange rate stability. This allows the loonie to be determined by market forces, giving the central bank the ability to adjust interest rates while capital moves freely across the border.

    On the fiscal side, the government is grappling with climate change, immigration and wealth inequality. However, there is also strong public resistance to higher taxes, and public debt and deficits are currently at alarming levels.

    If the central banks are at odds

    If the Bank of Canada were to cut interest rates while the Fed doesn’t, the loonie would likely depreciate sharply, forcing a response. Such a divergence happened in June 2024, with the Fed following with a 0.5 per cent cut only in September.

    On such short-term deviations, sterilization is typically implemented to dampen the depreciation of the loonie by acquiring Canadian dollars and selling reserves.

    If the central banks were to remain at odds in the longer term, a decrease in money supply as investors flee would likely cause a decrease in domestic bank lending, which is already under pressure from public and private debt and increased default rates.

    This could decrease longer term interest rates and put additional pressure on the economy through the capital account. If investors believe the central bank is merely delaying the inevitable depreciation of its currency, it could also reinforce carry trade dynamics — an investment strategy where money is borrowed at a low cost in one currency to earn higher returns from investments in another currency.

    The bond market would also react, with notable effects in key economic sectors and asset valuation. Long-term interest rates tend to align more across countries than short-term rates, especially if global factors are influencing real rates or if investors are seeking safer assets.

    While the Bank of Canada can set its policy rate independently of the Fed’s rate, it has less control over the long-term. Long-term rates are tied to exchange rates and reflect expectations for future short-term rates and risk factors. Mortgage rates and corporate borrowing rates would be affected as well.

    Monetary policy can’t be the only answer

    The Bank of Canada’s mandate is to “keep inflation low, stable and predictable.” While this can be fulfilled through rate cuts, diverging from U.S. policy will have widespread effects on the Canadian economy. These impacts will be uneven, with indebted investors and banks likely benefiting while the working class may bear the brunt.

    The Bank of Canada focuses on providing liquidity to the financial sector, often with little regulation or oversight. However, this approach tends to overlook challenges faced by the working class. In 2022, for instance, Bank of Canada Governor Tiff Macklem advised against employers increasing wages to match inflation over concern that a wage-price spiral would occur.

    Even if the central bank wanted to address these issues, it’s limited by the ability to manage multiple outputs with just one instrument. As a result, the central bank should report not only on inflation, but also on the overall trade-offs of rate cuts.

    The Bank of Canada has a vested interest in tampering the effects of a new rate cut, especially since it could trigger a “capital famine” in the long-term and weaken the Canadian dollar. In the short-term, divergences from the U.S. will likely be manageable, but in the longer term, currency depreciation may be unavoidable to keep the economy afloat.

    Monetary policy is vital, but it’s merely the first line of defence against inflation. To truly address Canada’s economic issues, both monetary and fiscal policies need to work together in harmony, with a broader public discussion that goes beyond inflation.

    Sorin Rizeanu 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. Bank of Canada’s latest interest rate cut: Monetary policy is not enough to address economic issues on its own – https://theconversation.com/bank-of-canadas-latest-interest-rate-cut-monetary-policy-is-not-enough-to-address-economic-issues-on-its-own-238396

    MIL OSI – Global Reports –

  • MIL-OSI USA: Bennet, Hickenlooper Welcome $23 Million from Bipartisan Infrastructure Law for Denver, Colorado Springs Airports

    US Senate News:

    Source: United States Senator for Colorado Michael Bennet
    Denver — Colorado U.S. Senators Michael Bennet and John Hickenlooper welcomed $23 million from the Federal Aviation Administration (FAA) to improve airport infrastructure in Denver and Colorado Springs. This funding comes through the Airport Terminals Program, made possible by the Bipartisan Infrastructure Law.
    “I’m grateful the FAA is supporting Colorado’s airports as they improve and modernize to meet our state’s changing needs,” said Bennet. “These dollars will help ensure our airports can continue to fuel our economy and better connect communities across our state.”
    “Our Bipartisan Infrastructure Law keeps investing in Colorado and creating good-paying jobs. This time by improving travelers’ experiences at both Denver International Airport and the Colorado Springs Airport,” said Hickenlooper. “Giddy up!” 
    Specifically, this funding includes:
    $15 million for Denver International Airport to increase the efficiency and capacity of its baggage handling system; and
    $8 million for Colorado Springs Airport to improve energy efficiency and accessibility, and modernize gate areas.
    Just this year, Bennet and Hickenlooper have welcomed nearly $140 million from the FAA for Colorado’s airports.

    MIL OSI USA News –

  • MIL-OSI: UPDATE – Talen Energy to Report Third Quarter 2024 Financial Results on November 14, 2024

    Source: GlobeNewswire (MIL-OSI)

    Reflects Update to Previously Announced Date to Accommodate Schedules in the Investor Community, New Event Links Included

    HOUSTON, Oct. 23, 2024 (GLOBE NEWSWIRE) — Talen Energy Corporation (“Talen”) (NASDAQ: TLN) plans to release its third quarter 2024 financial results on Thursday, November 14, 2024, before market open. President and Chief Executive Officer Mac McFarland and Chief Financial Officer Terry Nutt will discuss the financial and operating results during an earnings call at 10:00 a.m. EST (9:00 a.m. CST) on November 14, 2024.

    To listen to the earnings call, please register in advance for the webcast here. For participants joining the call via phone, please register here prior to the start time to receive dial-in information. For those unable to participate in the live event, a digital replay of the earnings call will be archived for approximately one year and available on Talen’s Investor Relations website at https://ir.talenenergy.com/news-events/events.

    About Talen
    Talen Energy (NASDAQ: TLN) is a leading independent power producer and energy infrastructure company dedicated to powering the future. We own and operate approximately 10.7 gigawatts of power infrastructure in the United States, including 2.2 gigawatts of nuclear power and a significant dispatchable fossil fleet. We produce and sell electricity, capacity, and ancillary services into wholesale U.S. power markets, with our generation fleet principally located in the Mid-Atlantic and Montana. Our team is committed to generating power safely and reliably, delivering the most value per megawatt produced and driving the energy transition. Talen is also powering the digital infrastructure revolution. We are well-positioned to capture this significant growth opportunity, as data centers serving artificial intelligence increasingly demand more reliable, clean power. Talen is headquartered in Houston, Texas. For more information, visit https://www.talenenergy.com/.

    Investor Relations:
    Ellen Liu
    Senior Director, Investor Relations
    InvestorRelations@talenenergy.com

    Media:
    Taryne Williams
    Director, Corporate Communications
    Taryne.Williams@talenenergy.com

    Forward-Looking Statements
    This communication contains forward-looking statements within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this communication, or incorporated by reference into this communication, are forward-looking statements. Throughout this communication, we have attempted to identify forward-looking statements by using words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecasts,” “goal,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” or other forms of these words or similar words or expressions or the negative thereof, although not all forward-looking statements contain these terms. Forward-looking statements address future events and conditions concerning, among other things capital expenditures, earnings, litigation, regulatory matters, hedging, liquidity and capital resources and accounting matters. Forward-looking statements are subject to substantial risks and uncertainties that could cause our future business, financial condition, results of operations or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this communication. All of our forward-looking statements include assumptions underlying or relating to such statements that may cause actual results to differ materially from expectations, and are subject to numerous factors that present considerable risks and uncertainties.

    The MIL Network –