NewzIntel.com

Category: Economy

  • MIL-OSI United Kingdom: Sellafield Ltd welcomes its largest ever graduate cohort

    Source: United Kingdom – Executive Government & Departments

    More than 140 graduates have started at Sellafield Ltd.

    Graduate intake event 2024.

    Over 140 graduates have just started their exciting careers with the company in a range of business and technical disciplines, supporting Sellafield Ltd in its mission to create a clean and safe environment for future generations.

    Our scheme aims to equip graduates with the skills, knowledge and behaviours necessary for a successful career in the nuclear industry, while offering the opportunity to build valuable professional networks.

    One of the graduates who has just completed the two year scheme is commissioning engineer Anouschka Van Mourik.

    Just before completing the scheme, Anouschka was honoured as Graduate of the Year thanks to her consistent work delivery and enthusiasm for undertaking new opportunities to develop her skills.

    Anouschka Van Mourik, Graduate of the Year

    Anouschka has also been involved in the Gender Balance network, mentoring scheme, and local events supporting the Institute of Engineering and Technology network as well as the Women in Nuclear group.

    She said:

    Being named Graduate of the Year was an incredible honour. The graduate scheme has been an amazing journey, rich with development and personal growth. I’ve not only advanced in my day-to-day job but also nurtured my passion for inspiring others to pursue careers in STEM.

    After earning my degree in Electrical and Electronic Engineering, Sellafield has played a vital role in further developing my skills and supporting my personal and professional growth.

    As we celebrate the successes of our current graduates, we are also excited to look ahead to the future. Applications for the 2025 graduate scheme are now open, with roles available in a variety of areas ranging from engineering to project management and finance.

    To find out more about the Sellafield graduate scheme, visit the Sellafield careers website.

    Updates to this page

    Published 8 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI Global: Can Montana’s ‘last rural Democrat’ survive another election?

    Source: The Conversation – USA – By Lee Banville, Professor and Director of the School of Journalism, University of Montana

    U.S. Sen. Jon Tester speaks to union members at a Labor Day campaign stop on Sept. 2, 2024, in Billings, Mont. William Campbell/Getty Images

    Jon Tester has never had it easy.

    The three-term Democratic senator from Montana has scored more than 50% of the vote only once in his three runs for the U.S. Senate, attracting 50.3% of the vote in 2018 against state auditor and future U.S. Rep. Matt Rosendale.

    This year, Tester’s always-perilous path to reelection seems narrower and more harrowing than ever before. And the outcome could determine whether the Senate remains in Democratic control or flips to the Republicans.

    Current polls and political prognosticators are even starting to turn on the moderate from the farming community of Big Sandy with the flattop haircut. FiveThirtyEight has Tester’s opponent, former Navy SEAL and businessman Tim Sheehy, up four percentage points, and the venerable Cook Political Report has gone so far as to say the race “leans Republican.”

    For Montana State University political scientist Jessi Bennion, this election may be the end of an era in rural America.

    “I used to always call Tester the unicorn candidate because there was no one like him,” she told my students a couple of weeks back. “He was a farmer, he was a rural Democrat, the last rural Democrat.”

    Jon Tester, right, first won election to the U.S. Senate in 2006, when he beat Republican incumbent Conrad Burns, left, by a margin of 3,562 votes out of 406,505 cast.
    Win McNamee/Getty Images

    The end of the unicorn?

    I teach political reporting at the University of Montana School of Journalism, and every two years I send students out to interview candidates, profile races and talk with voters. It is true that the state has changed even since Tester won in 2018.

    Despite an influx of outsiders over the past decade, Montana is still a sparsely populated state boasting 1.1 million people in the latest census. Though the state has historically relied on mining and timber for much of its economy, new economic activity in tourism and technology have helped fuel a 10% jump in population in the most recent census.

    But with that influx, housing costs have soared and so have property taxes. It also leaves one of Montana’s political traditions in danger.

    See, Montana has a history of doing something very few people do these days – ticket splitting, when a person votes in an election for candidates from opposing parties. In a time of deep polarization, it is hard to imagine, but out here in the Rocky Mountains and the northern plains, voters would consistently vote for a Republican for president and often for the Legislature, but also for Democrat Jon Tester.

    Tester was able to put together a coalition of voters in the few pockets of liberals – college towns such as Missoula, union strongholds such as Butte and Indigenous voters on the reservation – and carve away enough moderate voters in more rural areas to eke out wins. When I moved here in 2009, it was not just Tester who did this. Back then, Montana had a Democratic governor, attorney general and head of schools. But over time those statewide offices have all gone, often by double digits, to Republicans.

    No Democrat has won statewide since Tester did it back in 2018.

    Migration and the march from purple to red

    Then COVID-19 hit Montana.

    The state saw a surge in population, jumping nearly 5% between 2020 and 2023, and experts such as political scientist Jeremy Johnson told my students earlier this fall that it is important to know who these new residents are.

    “I still think the race, you know, can be competitive,” Johnson said. “I do think that some of my broader themes here – the polarization, the calcification, the reluctance to ticket split – makes it harder for Tester. Plus, I think there is some evidence that more Republican-leaning voters have moved to the state than Democrat-leaning voters in the last few years.”

    One analysis reported on by the Montana Free Press found that for every two Democrats who moved to Montana since 2008, three Republicans did.

    Montana does not have party registration, so when you vote in a primary, they give you a ballot for both parties, and you choose the one you want to participate in. In the highly publicized U.S. Senate primary this year, only 36% of primary voters voted in the Democratic primary, while 64% chose to vote in the Republican primary.

    The one question mark of 2024

    Supporters of an abortion rights initiative at a rally on Sept. 5, 2024, in Bozeman, Mont., with Sen. Jon Tester, whose path to reelection may be helped by a large turnout of abortion rights voters.
    William Campbell/Getty Images

    Ask Sen. Tester, and he will say his campaign is anything but over. He is stressing his independence from his political party, how Republican President Donald Trump signed bills he sponsored and his long-running support of veterans as cornerstones of his campaign.

    But his path to reelection may run right through Roe v. Wade.

    Montana’s constitution was written in 1972, and it has some pretty progressive elements, including a right to a clean environment and an explicit right to privacy, as opposed to the more implied one in the U.S. Constitution. And in 1999, the state Supreme Court said that right to privacy included abortion access.

    Still, in part to ensure that a later court decision could not strip away that right, voters have put CI-128 on the ballot this fall, which would explicitly include protection for abortion access in the state constitution.

    Tester hit the issue hard in his last debate with Sheehy on Sept. 30, 2024.

    “The bottom line is this: Whose decision is it to be made?” Tester said during the debate. “Is it the federal government’s decision, the state government’s decision, Tim Sheehy’s decision, Jon Tester’s decision? No, it’s the woman’s decision. Tim Sheehy’s called abortion ‘terrible’ and ‘murder.’ That doesn’t sound to me like he’s supporting the woman to make that decision.”

    Tester’s supporters hope the initiative could inspire younger voters and moderate women to flock to the polls this fall, and that might make Tester’s path to reelection a bit more doable.

    But it is going to take a bit of unicorn magic, perhaps, for Tester to win a fourth term.

    Back at Montana State University, Bennion said the situation looks pretty dire for the Democrats in rural states.

    “I don’t see, unless our state changes in a lot of different ways, I don’t see a Democrat winning in a long time,” he said. “Just the way our state is growing, the kind of person that is moving here and voting.”

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

    – ref. Can Montana’s ‘last rural Democrat’ survive another election? – https://theconversation.com/can-montanas-last-rural-democrat-survive-another-election-240647

    MIL OSI – Global Reports –

  • MIL-OSI Global: Kamala Harris has spoken of her racial backgrounds − but a shared identity isn’t enough to attract supporters

    Source: The Conversation – USA – By Pawan Dhingra, Associate Provost and Professor of American Studies, Amherst College

    Vice President Kamala Harris greets guests during a reception for Asian American, Native Hawaiian and Pacific Islander Heritage Month at the White House in May 2022. Chip Somodevilla/Getty Images

    In one of the most memorable moments of the current presidential campaign, Donald Trump in July 2024 contended that Democratic nominee Kamala Harris recently stopped identifying as Indian and “happened to turn Black.”

    With these false remarks, Trump implied that Harris emphasized one part of her background to appeal to voters and then changed that to appeal to a different group of voters.

    Lost within this controversy has been the underlying assumption in Trump’s comments, that people tend to vote for someone with a shared identity. But is that true? Are Asian Americans, for example, especially likely to vote for Harris because of their shared identity?

    Asian Americans are a quickly growing political constituency that made a difference in 2020 in swing states such as Georgia, Nevada and Arizona, helping elect President Joe Biden. They are positioned to be influential again this November.

    Taken as a whole, Asian Americans lean Democratic in 2024, with 62% favoring Harris, compared with 38% who support Trump. But for Harris, Asian Americans are not as strong a voting bloc as Black Americans, who poll at 77% supporting Harris, according to the Pew Research Center. Harris cannot take Asian Americans’ votes for granted.

    Kamala Harris takes a photo with guests during a White House reception in May 2022 celebrating Asian American, Native Hawaiian and Pacific Islander Heritage Month.
    Associated Press

    What guides identity politics and voting

    Despite the assumption in Trump’s comments that voters gravitate toward a political candidate who shares parts of their identity, such as race or gender, that is not always the case.

    Voters are more likely to vote for someone with a shared identity when they see a “linked fate.” with the candidate. So, people who have the same ethnicity or race may vote in a similar fashion because they expect to experience the effects of policy changes in the same way. Latinos could be more likely to vote for a Latino candidate because the candidate would prioritize issues that matter to them, such as immigration reform.

    Politicians, for their part, can try to encourage people with whom they share an identity to believe in a linked fate to win their vote. In order to do this, candidates can play up issues that affect their identity group and then make the case that they are best equipped and more motivated to address those problems.

    For instance, women rank abortion rights as a key issue and trust Harris to understand it.

    In order to earn voters’ support, candidates must also come across as likely to act in their supporters’ shared interests. This helps explain why people who care about so-called women’s issues, such as education or health care, are more likely to vote for a Democratic woman than a Republican woman. People generally think that Democrats represent women better than Republicans do – and they would not assume that a Republican female politician would champion women’s issues just because of her gender.

    With this in mind, a candidate wanting to secure the vote of a group must first know what issues matter to them and then demonstrate that they understand the group well enough to earn their vote.

    Asian Americans, like most Americans, list the economy, inflation, health care, crime, Social Security, the price of housing and immigration as their top issues in this election.

    In order to effectively appeal to Asian American voters, Harris could demonstrate first that she identifies as Asian in order to invoke their shared identity. She could also show that she both understands the issues that Asian Americans care about and that she can be trusted to act in ways they favor on those issues.

    To an extent, Harris has already worked to publicly identify with her South Asian heritage. She has referred to her mother’s immigrant background and has talked about her grandfather who lived in Chennai, in southern India. She has made references to her ethnic culture, such as when she mentioned coconut trees and cooked the traditional South Indian dish dosa in a video with fellow Indian American Mindy Kaling.

    New Hampshire delegate Sumathi Madhure attends the Democratic National Convention on Aug. 19, 2024.
    Robert Gauthier/Los Angeles Times via Getty Images

    Connecting to Asian Americans

    Once solidifying that they share an identity with a group of voters, political candidates must demonstrate that they understand how the group experiences the issues that matter to them. The concerns of Asian Americans arise out of specific experiences they have – such as immigration.

    Asian Americans, for example, often complain about the long wait to sponsor family members abroad for visas to the U.S. At the same time, Asian Americans represent 15% of immigrants living in the U.S. without a visa.

    Asian Americans are also concerned about the growing government backlog of visas and smugglers whom immigrants pay to help them illegally cross the border.

    Harris often speaks about immigration and the U.S.-Mexico border, but not in personal terms – or about how this issue specifically relates to Asians.

    While all U.S. residents are affected by inflation, small-business owners, in particular, feel the pinch. They must pay higher prices for goods but have limited capital with which to do so. They also must navigate higher interest rates.

    While Asian Americans make up about 7% of the total U.S. population, they represent 10% of business owners and are the largest nonwhite group of small-business owners.

    Harris talks about the economy and inflation, as well as the need to support small-business owners, but not about how these issues specifically affect Asian Americans. Her only ad targeting Asian Americans has focused on hate crimes against them.

    And Asian Americans, like most voters, strongly support Social Security and other federal programs that aim to ensure stability for the elderly. Harris could speak of how Social Security is the sole income source for over a quarter of Asian Americans – and for a third of African Americans – compared with 18% of white Americans.

    Harris seems poised to capture the majority of the Asian American vote, which leans Democratic. But to what extent they vote for her – and with how much enthusiasm – will depend on Harris’ ability to connect with them as Asian Americans and the issues they care about.

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

    – ref. Kamala Harris has spoken of her racial backgrounds − but a shared identity isn’t enough to attract supporters – https://theconversation.com/kamala-harris-has-spoken-of-her-racial-backgrounds-but-a-shared-identity-isnt-enough-to-attract-supporters-237107

    MIL OSI – Global Reports –

  • MIL-OSI Global: European court ruling finds just cause to award soccer players greater freedom of movement

    Source: The Conversation – USA – By Stefan Szymanski, Professor of Sport Management, University of Michigan

    A ruling that Harry Kane may be happy about? James Gill/Danehouse via Getty Images

    Many of us have quit a job at some point in our lives – but how many have wondered if they had “just cause” to do so? Were you acting on a whim? Did your departure make life difficult for your employer? And did your desire to move on really outweigh the loss this meant for your boss?

    Just cause can be a real problem for professional soccer players who want to change teams. Under the soccer transfer system created and operated by FIFA, the sport’s world governing body, players who quit without showing just cause – that is, who fail to show that their employer treated them in manner that is demonstrably unfair – can be subject to significant financial and disciplinary penalties.

    But that could soon change. On Oct. 4, 2024, the European Court of Justice took a major step toward dismantling an employment system that placed undue burden on employees and, thankfully, was dispensed with for the rest of us long ago.

    As a sports economist, I have written about this subject for several years now, and I know of no system outside of sports that restrains the rights of the employee to a comparable extent.

    An object lesson for FIFA

    The legal case is complicated, but the essence of it is that Lassana Diarra, a star player for Lokomotiv Moscow back in 2014, got into a dispute with the Russian club while under contract and quit. He then got a job offer from a Belgian club but was unable to take it because of the FIFA transfer regulations.

    Europe’s top court ruled in favor of former French international Lassana Diarra.
    Photo by Jean Catuffe/Getty Images

    Under the governing body’s rules, not only was Diarra expected to pay damages to Lokomotiv amounting to US$11.5 million plus interest, but he was unable to take a job with any club until the dispute was settled. A formal suspension was not enforced, because Diarra had already been unable to work for 11 months.

    But Diarra countersued, claiming the regulations of FIFA unreasonably restricted his employment rights. The case has passed through many stages, until the highest court in Europe finally delivered its decision.

    The court struck down two specific parts of FIFA’s regulations: the rule that an International Transfer Certificate, required by a player to move from one country to another, cannot be issued until the dispute is settled; and the stipulation that any new employer of the player is jointly and severally liable for any damages against the player due to the old club, regardless of whether that employer played a role in the dispute.

    The court, which has historically been deferential toward sports governing bodies and their regulations, was highly critical of FIFA’s transfer system. It declared the rules anti-competitive “by object” and not just “by effect.” In the view of the court, the rules were not merely aimed at ensuring an orderly market for soccer player services, but amounted to a “non-poaching agreement,” arguing that they were intended to restrain competition for players in order to benefit the clubs.

    An end to transfer fees?

    The decision means that FIFA will have to rewrite its transfer rules in a way that demonstrates that the system has a clear and legal purpose. The regulations will be deemed legitimate, the court said, for the purposes of guaranteeing “contractual stability” and ensuring that clubs have the right to receive compensation when there’s breach of contract.

    A player who quits while under contract will still need to demonstrate just cause – unfair treatment by the club – or else be liable to pay a fine or penalty. But the new system will look very different, and it is hard to see how the payment of transfer fees can survive.

    Last summer alone, clubs in the top five European leagues spent around $5 billion on player transfers. Frequently, there are moves between clubs in each direction, and so cash transfers are smaller than the big money moves that grab the headlines.

    The system deprives some star players of substantial potential earnings.

    Take England national team captain Harry Kane, for example. In 2023, German club Bayern Munich paid London-based Tottenham around $100 million to buy Kane out of the last year of his contract. Kane was being paid about $13 million a year at Tottenham, and he got a four-year contract at Bayern, paying him around $27 million a year.

    While his salary doubled, Kane received only half of what Bayern was prepared to pay to obtain his services, thanks to the FIFA regulations. The rest went to his former club.

    Here is what one might expect to happen from now on: Kane would unilaterally announce that he wanted to leave, and then a club like Bayern could make an offer. Tottenham would no longer have any enforceable claim over Bayern and so no transfer fee would be paid, and Bayern would offer to pay Kane something like $52 million a year.

    Kane would have to pay damages to Tottenham for breach of contract, and the court suggested that these damages might reasonably equal the wages that the club would have paid him for the remainder of the contract – so in the case of Kane, $13 million.

    Clearly Kane would have been much better off if the judgment had arrived a year or two ago.

    Don’t fall for the trickle-down myth

    Soccer fans will be worried that this means financial ruin for their club and increases inequality as the big clubs poach the big stars.

    But I see no reason to think that the sky will fall. As recent research has shown, the transfer system has a negligible effect on the distribution of resources among the clubs. Rather, transfer fee spending is more likely the source of financial instability than its remedy, as some clubs spend extravagantly with unrealistic expectations.

    It is true that club owners hoping to grow rich by developing young players and trading them in the market will believe that they now have fewer opportunities, but for most clubs, this has always been an illusion.

    Big clubs tend to tie up the potential stars in their teens, leaving few opportunities for small clubs to find diamonds in the rough.

    Major League Soccer, the U.S. professional league, for example, has ambitions to one day match the big European leagues and has committed significant resources to developing player talent.

    But recent figures suggest that the league is still a net importer of players – and not just superstars such as Lionel Messi.

    In fact, MLS might actually benefit from the end of the transfer system. There are plenty of talented players who might fancy a year or two in the U.S. if they are not unduly tied down by transfer regulations.

    Blowing the whistle on unfair practices

    But perhaps the biggest impact of the ruling will be on the mass of professional players who do not live in the spotlight.

    FIFA estimates there are around 130,000 professional players worldwide, and most of them earn little in comparison to the super-salaried stars of the world’s biggest clubs.

    Yet, these journeymen and -women players have been bound by the same restrictive system and are often denied the opportunity to change teams – not because they are being offered great riches, but because they want a change of scene, or to be closer to their families.

    FIFPro, the players’ union, has documented numerous cases of onerous employment conditions, which were possible under the repressive transfer system.

    Thanks to the European Court of Justice, those days may soon be over.

    In 2015 I wrote a report for FIFPro on the economic consequences of the transfer system

    – ref. European court ruling finds just cause to award soccer players greater freedom of movement – https://theconversation.com/european-court-ruling-finds-just-cause-to-award-soccer-players-greater-freedom-of-movement-240403

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Transport assistance for post-16 learners with SEND: Senior councillors asked to approve proposed changes

    Source: City of Leeds

    Senior councillors are being asked to approve proposed changes to the way Leeds City Council provides transport assistance for post-16 learners with special educational needs and disabilities (SEND), as the level of discretionary support currently provided is not sustainable.

    The proposed changes would still offer a level of discretionary transport assistance for Post-16 learners with SEND and help support independence through travel training, whilst addressing the significant financial challenge.

    The council is statutorily obliged to make free-of-charge home to school travel arrangements for school-age children with SEND. There is no such requirement to provide this for post-16 learners, however the council has been doing so on a discretionary basis at a cost of around £4m-£4.5million each year.

    Following a consultation earlier this year, a report to the council’s Executive Board will propose the following changes:

    • Limiting post-16 transport assistance to learners with SEND, living three or more miles from their education setting.                                                                                                                                                                                                               
    • Independent Travel Training and a free bus pass (or equivalent cost) for a young person who is able to travel independently or could make the journey to their learning setting on public transport accompanied by an adult as necessary.                                                                                                                                                                                                                                                               
    • A yearly flat-rate Personal Transport Allowance for post-16 learners with SEND, allowing learners and their families to make their own travel arrangements, and based on distance between their home and learning setting:

    –          Between 3 and 10 miles – £1,000 per year.

    –          Between 10.01 and 20 miles – £2,000 per year.

    –          Over 20.01 miles – £3,000 per year.                                                                                                                                 

    • Providing council-organised transport for those meeting the exceptional circumstances criteria.

    Introducing these proposals would achieve an estimated financial saving to the council of more than £800,000 during the financial year 2025/26.

    Should the proposals be approved by the council’s Executive Board next Wednesday (16th October), the changes would be introduced for young people starting post-16 education in September 2025 and onwards. All young people already in post-16 education receiving transport assistance would continue on the current policy unless there is a change in their circumstances such as moving house or a different education setting.

    Councillor Helen Hayden, Leeds City Council’s executive member for children and families, said:

    “We absolutely recognise and understand the concerns of young people, their families and carers, in how these changes may affect them, and we have fully considered their feedback from the consultation when finalising these proposals.

    “Given the significant financial challenges the council faces and the increasing level of demand, the level of discretionary transport support we currently provide is not sustainable.

    “However, we remain committed to providing support for young people and their families through a personal transport allowance, through provision of our award winning independent travel training, and by ensuring that those with exceptional circumstances requiring council organised transport, continue to receive it.”

    Public consultation on the proposals was held between 24 June and 23 July 2024, with just over 300 responses received and views sought from children and young people, parents and carers, staff and governors of Special Inclusion Learning Centres (SILCs), primary and secondary schools, and post-16 providers, and wider stakeholders.

    Should the proposals be approved at Executive Board, the council will begin contacting families and key services to ensure they are aware of the changes well in advance of their introduction from September 2025. Officers intend to work with parent forums, young people and families to continue to inform their understanding of how the proposals impact those affected before and during the proposals’ implementation, and will also liaise with key partners such as public transport providers to continually increase their awareness of accessibility needs of young people with SEND.

    Proposals to remove transport assistance eligibility for post-19 learners, and to introduce a contributory charge for post-16 learners towards their transport, have not been recommended to Executive Board for implementation following feedback from the consultation.

    The full report can be read here. 

    MIL OSI United Kingdom –

  • MIL-OSI Economics: Policies to Foster Green FDI: Best Practices for Emerging Market and Developing Economies

    Source: International Monetary Fund

    Summary

    Meeting COP28 goals requires a substantial increase in clean energy investment by 2030, including in emerging market and developing economies (EMDEs). Amid domestic financial constraints, foreign direct investment (FDI) could play a key role in EMDEs’ ability to close their renewable energy investment gap and finance green projects, more broadly. This Note finds that strengthening climate policies boosts FDI into renewable energy in EMDEs, especially in those with solar power potential, while less clear effects are found for FDI into EVs and green hydrogen possibly due to their recent emergence. Closing the average climate policy gap with respect to AEs could secure 40 percent of the private finance needed for renewable energy investment in EMDEs, helping overcome the impact of high financing costs. Strengthening the macro-structural framework, such as through improving trade and capital account openness and institutional quality, would also raise green FDI inflows, complementing climate policies. Case studies show that countries that attracted FDI into renewable energy put in place a large and diverse set of policies in the electricity sector, including those that secure a revenue stream for investors in the initial phases, such as power-purchase agreements/feed-in tariffs, renewables targets, and complementary investments. Countries that successfully attracted FDI into EVs relied on the development of national sectoral strategies including production and adoption subsidies, prior comparative advantage in the sector, and bilateral alliances with key players in the EV market. Finally, comprehensive national hydrogen strategies that leverage international efforts to boost production, and good conditions for production of renewable energy, were key drivers of green hydrogen FDI. Global initiatives such as the Just Energy Transition Partnerships and the EU strategy for green hydrogen are benefitting FDI to EMDEs.

    MIL OSI Economics –

  • MIL-OSI: Topline Financial Credit Union Recognized for Prestigious Marketing Efforts

    Source: GlobeNewswire (MIL-OSI)

    MAPLE GROVE, Minn., Oct. 08, 2024 (GLOBE NEWSWIRE) —  TopLine Financial Credit Union, a Twin Cities-based member-owned financial services cooperative, was honored with three marketing awards from the Marketing Association of Credit Unions. The Marketing Association of Credit Unions (MAC) Awards honored TopLine in three categories: Community Engagement, Financial Education and Brand/Rebrand Evolution.

    In the Community Engagement category, TopLine won bronze for their Winter Spirit Week Penny Wars competition. The goal of Penny Wars was to introduce a fun new competition for employees that included a charitable component to benefit one of TopLine’s selected non-profit partners. Teams tried to earn as many points as possible with pennies worth one point, $1 bill worth 100 points, $5 bill worth 500 points, etc. Teams could sabotage other teams by dropping silver coins in opponents’ jars to deduct points. TopLine raised a total of $1,940 in just one week. The winning team got to select their TopLine non-profit charity of choice, and all donations were given to Avenues of Youth, who provides emergency shelter, short-term housing and supportive services for homeless youth in a safe and nurturing environment.

    TopLine took home silver in the Financial Education category for their financial education session with the Energy Careers Academy – the first ever graduating class of the program. The goal of the session was to equip adults with a better understanding of personal finance basics and develop healthy financial habits, such as establishing a financial services relationship, developing a budget, establish routine savings for emergencies and for retirement, using credit wisely, paying down debt, achieving other goals such as buying their first car, their first home, and the importance of planning for their future.

    In the Rebrand/Brand Evolution category, TopLine took home the bronze award for their new Bloomington Branch. The new branch was designed as a flagship branch, to pay tribute to TopLine’s heritage of telephone workers who founded the credit union in 1935 when seven employees of the Bell System pooled $35 to create Minneapolis Telco Credit Union. The roof line and drive up replicates the “T”, depicting a telephone pole and line. With the opening of the new branch, TopLine also developed a new tagline for their next era, “Connected, We All Do Better,” that pays homage to the credit union’s legacy, and supports the credit union mission of connecting with members, employees and communities to build life-long relationships.

    “We are incredibly honored and humbled to be recognized with three prestigious marketing awards by the Marketing Association of Credit Unions for our community engagement, financial education and branding efforts,” said Vicki Roscoe Erickson, Senior Vice President and Chief Marketing Officer, TopLine Financial Credit Union. “This achievement reflects the hard work, creativity, and dedication of our entire team and inspires us to continue pushing boundaries that make a meaningful impact in members’ lives. We remain committed to assist our members and communities with free financial education sessions and resources, and to educate consumers about the many benefits of using credit unions for their financial needs.”

    The Marketing Association of Credit Unions (MAC) was founded over 30 years ago, created for marketers by marketers as a fun way to share ideas, network, and help others be their professional best. For more information, visit http://www.macnetwork.org.

    TopLine Financial Credit Union, a Twin Cities-based credit union, is Minnesota’s 9th largest credit union, with assets of over $1.1 billion and serves over 70,000 members. Established in 1935, the not-for-profit financial cooperative offers a complete line of financial services from its ten branch locations — in Bloomington, Brooklyn Park, Champlin, Circle Pines, Coon Rapids, Forest Lake, Maple Grove, Plymouth, St. Francis and in St. Paul’s Como Park — as well as by phone and online at http://www.TopLinecu.com or http://www.ahcu.coop. Membership is available to anyone who lives, works, worships, attends school or volunteers in Anoka, Benton, Carver, Chisago, Dakota, Hennepin, Isanti, Kanabec, Mille Lacs, Pine, Ramsey, Scott, Sherburne, Washington and Wright counties in Minnesota and their immediate family members, as well as employees and retirees of Anoka Hennepin School District #11, Anoka Technical College, Federal Premium Ammunition, Hoffman Enclosures, Inc., GRACO, Inc., and their subsidiaries. Visit us on our Facebook or Instagram. To learn more about the credit union’s foundation, visit http://www.TopLinecu.com/Foundation.

    CONTACT:

    Vicki Roscoe Erickson
    Senior Vice President and Chief Marketing Officer
    TopLine Financial Credit Union
    verickson@toplinecu.com | 763.391.0872

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d229f9e0-78f3-48ff-aad8-3f241ccffc89

    The MIL Network –

  • MIL-OSI Australia: R&D tax incentive transparency reports

    Source: Australian Department of Revenue

    About the transparency reports

    We’re required by law to publish certain data about Research and Development (R&D) tax incentive claims reported to us by companies (R&D entities). Publishing this information will:

    • provide transparency on the benefits received by R&D entities
    • encourage voluntary compliance with the requirements of the R&D tax incentive (R&DTI) program
    • increase public awareness of which companies have claimed the tax incentive.

    Publication of this report is a legal requirement under section 3H of the Taxation Administration Act 1953 (TAA). It came into effect in July 2021, following reforms to the policy and administration of the R&DTI program, as a result of Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Act 2020External Link.

    Each year, the transparency report will be made up of 2 parts. These are:

    When we’ll publish the report

    We’re required to publish the R&D data 2 years after the end of the financial year that the data relates to. The delay in publishing this information is designed to address any perceived commercial sensitivity of the data.

    We’ll publish the first data report in early October 2024. It will include R&D entities:

    • that claimed the R&DTI in their 2022 company tax return, and
    • whose income year commenced on or after 1 July 2021.

    What R&D data we’ll publish

    The data we’ll publish in the data report is specific and limited to the:

    • name of the R&D entity claiming the R&DTI
    • entity’s Australian business number (ABN) or Australian company number (ACN)
    • ‘total R&D expenditure’ – total notional deductions claimed (label Z in Part A of the R&DTI schedule) less any feedstock adjustments (label B in Part B of the R&DTI schedule).

    We’ll base this on what the R&D entity provided in its company tax return.

    If an R&D entity amended its company tax return, we’ll report both the original information provided by the entity and the last client-initiated amendment lodged with us – including any voluntary disclosures provided during a review or audit.

    Commissioner-initiated amendments won’t be published. If, during a review or audit, the Commissioner amended the labels, we’re required to publish the total expenditure on R&D based on the company return lodged before the Commissioner-initiated amendment.

    You’re unable to opt out of having your R&D information published in the report. There are no exclusions.

    Due to tax law confidentiality provisions in the TAA, we can’t disclose any further information beyond what will be published in the report.

    Data notes

    Labels in the data report

    There will be 5 labels in the data report on data.gov.au:

    • Name – this is the name of the R&D entity on the date we extracted the data.
    • ABN or ACN – if the R&D entity had a valid ABN when we extracted the data, then we’ve published the ABN; if not, we’ve published its ACN.
    • Total R&D expenditure – this is based on the first information the R&D entity provided to the Commissioner and is the total notional deductions (label Z at Part A on the R&D schedule) less feedstock adjustments (label B at Part B on the R&D schedule).
    • Adjusted total R&D expenditure – this is based on the last amendment the R&D entity provided to the Commissioner and is the total of notional deductions (label Z at Part A on the R&D schedule) less feedstock adjustments (label B at Part B on the R&D schedule).
    • Income year – this is the income year for the R&D claim.

    Notes about the total R&D expenditure amounts

    We’ve generally rounded the total R&D expenditure amounts in the data report, so you may see differences between the totals in the data report and the amounts we’ve used in the information and charts in our analysis.

    There are also R&D entities that we’ve reported a ‘Nil’ dollar amount for. This could be because:

    • feedstock adjustments are more than the notional deductions
    • the R&D entity adjusted the amount in their tax return
    • the R&D entity did not provide information regarding total R&D expenditure.

    Consolidated groups

    Where an R&D entity is part of an income tax consolidated group or multiple entry consolidated (MEC) group, the subsidiary members are treated as part of the head company for income tax purposes, for as long as they remain part of the group for income tax purposes.

    The published total R&D expenditure amounts are those disclosed by the head company of the consolidated group or MEC group.

    Data sources

    We’ll get the data for the data report from the company tax return and R&D schedule labels.

    Company tax return

    We’ll include the entity in the data report if they’ve reported an amount at label 21A or 21U.

    R&D schedule

    The total R&D expenditure in the data report is the amount of total notional deductions less any feedstock adjustments. If notional deductions less feedstocks adjustments are negative or zero, the figure is reported as Nil.

    We’ll use Part A label Z to obtain the total notional R&D deduction amounts we include in the data report – this amount is worked out by adding together items 1 to 9 in Part A of the R&D schedule for both Australian-owned R&D (label X) and foreign-owned R&D (label Y).

    We’ll use Part B label B to obtain the feedstock adjustment amount.

    Amendments

    If you’ve reviewed your R&D claims and believe that there’s an error in the information that we’ll publish, you’re able to correct any errors by lodging an amendment with us in writing.

    If you’ve submitted an amendment and it’s not processed before we extract the data, we’ll publish the updated information in the next year’s report. If you’ve amended your R&DTI claim, we’ll publish both the original R&D expense amount and the amended R&D expense amount. If you’ve withdrawn your claim in full, we’ll publish the original R&D expense amount with the amended R&D expense amount published as Nil.

    Data assurance process

    In preparing the data for publishing, we’ve reviewed and confirmed the data in accordance with the information contained on our systems as at the date we extracted the data.

    If you are an R&D entity (or their nominated representative) with data included in the report and there is an error, you can contact us.

    What’s not in the report

    The information in the transparency report will not include:

    The report won’t contain information collected by Department of Industry, Science and Resources (DISR) on behalf of Industry Innovation and Science Australia (IISA) as authorised under the Industry Research and Development Act 1986.

    Communication approach

    Since September 2023, ahead of the release of the first report, we’ve been:

    • engaging with key external stakeholders to inform them of the new reporting requirement and to get their input into our approach
    • communicating directly with all affected R&D entities and their registered tax agents (in October 2023, February 2024 and July 2024), to inform them of the new reporting requirement and encourage them to review their information and amend any errors
    • communicating directly with those R&D entities that lodged an amendment, to let them know that both their original and amended amounts will be published
    • communicating directly with those R&D entities that had their claim amended by the Commissioner, to let them know we’re unable to publish the Commissioner-amended amount; we’ll only be publishing the original amount they claimed
    • issuing broader communications to the community to inform them about the new data report and provide them with access to comprehensive information about the data report.

    Visibility for future applicants

    To ensure future applicants are aware that the data they lodge in their R&DTI schedule will be included in R&DTI transparency reporting, we’ve added a notice to the R&DTI schedule 2024 (paper version) (PDF, 536KB)This link will download a file and digital version as well as the R&DTI calculator.

    Administration of the R&DTI program

    The R&DTI program is jointly administered by the:

    • Department of Industry, Science and Resources (DISR on behalf of IISA)
    • ATO.

    DISR manages the registration process for the R&DTI program and we review the eligibility of the expenditure incurred on the registered activities. We leverage the skills of each agency to:

    • reduce compliance costs for business
    • increase certainty while maintaining program integrity.

    The ATO and DISR regularly conduct engagement activities, including compliance reviews and audits of R&D entities to safeguard the integrity of the R&DTI program. Information in relation to these activities is not included in this report.

    The R&DTI program is a self-assessment regime. Receiving a registration number from DISR doesn’t mean the R&D activities meet the eligibility requirements. A registration number means the application has been received and is complete. R&D entities may still be subject to compliance action by DISR and the ATO.

    About the R&D program contains further details, including the aim of the program and our joint charter with DISR.

    Innovation success stories

    DISR provides information on its website about the innovation success storiesExternal Link the program has supported.

    MIL OSI News –

  • MIL-OSI Russia: Three sports facilities will be built as part of the city’s investor support program

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    Moscow Foundation for the Support of Industry and Entrepreneurship provided investors with preferential investment loans for the construction of sports complexes. They will be built within the framework of the industry scheme for the placement of such facilities, approved by the Moscow Sports Committee. This was reported by the Deputy Mayor of Moscow for Transport and Industry Maxim Liksutov.

    The preferential investment lending program has been in effect since March 2022. The fund compensates industrial enterprises for part of the costs of paying interest on loan agreements. Under the program, such companies can receive up to three billion rubles at three percent per annum for up to three years.

    “In July 2024, by decision of Sergei Sobyanin, the preferential investment lending program was expanded to investors who are developing the city’s sports infrastructure. Developers can receive up to 500 million rubles at three percent per annum for up to three years. Today, within the framework of this program, a multifunctional sports complex is being prepared for opening, and two more facilities are also under construction – a hockey arena and an indoor sports ground with artificial ice,” said Maxim Liksutov.

    Under the terms of the program, companies that build football fields, indoor skating rinks, indoor arenas, tennis courts, swimming pools, sports and recreation complexes with multi-purpose sports halls and other facilities for sports and physical education can receive financial support.

    “Since the start of the program, investors have attracted over 700 million rubles to implement three new projects in the sports sector. It is planned that by 2030, thanks to this support measure, up to 300 sports facilities will appear in the capital,” said the Minister of the Moscow Government, Head of the Department of Investment and Industrial Policy

    Anatoly Garbuzov.

    Thus, a multifunctional sports complex is planned to open in Olonetsky Proezd (property 5/1a). It has ice and football fields, four indoor tennis courts and one outdoor clay court. The area of the complex is eight thousand square meters. More than 180 million rubles were attracted for this project.

    The same investor will build an indoor hockey arena with an area of 4.5 thousand square meters at the address: Balaklavsky Prospekt, Building 33. It will house two ice arenas, a gym, and a choreography hall. To implement this project, the investor attracted 280 million rubles thanks to the fund.

    The fund also supported the construction of an indoor sports ground with artificial ice, which will be located at 9 Krymsky Val Street. The complex will include an ice arena, a gym, and a choreography hall. The opening is scheduled for the second quarter of 2025. The developer raised almost 300 million rubles.

    To receive funds at a preferential rate, you must enter into a loan agreement, then contact the Moscow Fund for the Support of Industry and Entrepreneurship. After the application is approved, a financial support agreement is signed to compensate for part of the costs of paying interest on the loan. Then, depending on the terms of writing off interest, the required amount is transferred to the company’s account in the bank where the loan is opened. All information is available on the foundation’s website.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

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

    http://vvv.mos.ru/nevs/item/144978073/

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

    MIL OSI Russia News –

  • MIL-OSI Russia: “What you go for is what you’ll find” in Tagansky Park

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    On Friday evening, Tagansky Park will host the play “What You Go For Is What You’ll Find” based on Alexander Ostrovsky’s plays “The Marriage of Balzaminov” and “A Festive Dream – Before Lunch.” It will be presented by students of the “Teatralny Park” studio, directed by teacher Ildar Shamikov-Dasayev.

    According to the plot, the naive “mama’s boy” Balzaminov wants to marry a rich merchant woman in order to solve his financial problems and settle down in this world. “Don’t chase your mind, as long as you have happiness. With money, we can live without our minds!” – this phrase by Pavla Balzaminova vividly reflects the views and morals of the society in which her son was so eager to gain a foothold.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

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

    http://vvv.mos.ru/poster/event/320146257/

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

    MIL OSI Russia News –

  • MIL-OSI Economics: Group of Exceptional Students Graduate: 4th Cohort of Samsung-UWC Software Development Programme

    Source: Samsung

    At a graduation ceremony held on Tuesday, 08 October 2024, Samsung celebrated the achievements of the 4th Cohort in the University of the Western Cape (UWC) Software Development (SWD) programme. This Samsung sponsored programme aims to enhance the graduating students’ prospects of employment as well as address the problem of youth unemployment in the province and the country as a whole.
     

     
    South Africa, like many countries globally, grapples with the challenge of youth unemployment. This is supported by statistics indicating a 45,5% unemployment rate among young individuals (aged 15-34 years), in contrast to the national average of 32,9% in the first quarter of 2024”, according to Statistics SA.”  The Western Cape is no exception to this alarming trend.
     
    In response to the country’s youth unemployment issues and a way to assist government to address this challenge, Samsung launched a R280-million worth Equity Equivalent Investment Programme (EEIP) in 2019. The company is now celebrating five years of this EEIP programme’s sustained success. This EEIP programme is projected to have a measurable impact on job creation and a contribution of nearly R1-billion to the South African economy at large. Five years in and Samsung’s EEIP programme has managed to train 539 youth in SWD and artisanal skills.
     
    Jose Frantz, Deputy Vice Chancellor: research and innovation, University of the Western Cape said: “We firmly believe in the transformative power of higher education to empower youth. The Future-Innovation Lab at UWC exemplifies this commitment by equipping previously disadvantaged youth with the skills and experiences necessary to succeed in an AI-driven economy. By bridging the gap between education and industry, this initiative not only addresses the pressing issue of youth unemployment but also fosters a culture of innovation and resilience. As we celebrate the upcoming graduation of the fourth cohort, we recognize the importance of such programs in nurturing the next generation of leaders and change-makers. Together, we can create a future where every young person has the opportunity to thrive and contribute meaningfully to society.”
     
    This SWD programme that is part of Samsung’s EEIP has ensured sustained ICT investment in historically disadvantaged universities, which in turn has helped to enhance the prospects of employment in the country’s youth. Importantly, this SWD programme has provided an opportunity to previously disadvantaged youth to gain skills in software development and digital social innovation with the ultimate aim of opening doors to employment or further training. Samsung strives for a 100% absorption rate of all the students in its training programmes.
     
    Lenhle Khoza, Manager for B-BBEE and Transformation at Samsung South Africa said: “As Samsung, we would like to congratulate this group of brilliant students. From the start of this programme, our focus has been on capacity building in ICT training and development. With these software development skills, we are confident that these UWC students will now be able to play a crucial role in the digital economy.”
     

     
    For Samsung, this graduation of the fourth cohort in this SWD programme is a clear indication of how successful partnerships with institutions of higher learning such as UWC are helping to address the country’s societal challenges through the development of digital solutions.
     
    And according to UWC, the 41 students that participated in the SWD programme have gained proficiency in high-demand coding languages, software architecture, web and mobile app development as well as database management and more. The hands-on and project-based approach has ensured that graduates emerge not just with theoretical knowledge, but also with the practical skills demanded by the modern job market.
     
    With hands-on, real-world experience provided through creativity and fun in a learning and working environment, these UWC students will now be able to successfully apply their new skills, which are highly sought-after in the country’s digital economy.
     

     
    “As Samsung, we’ve always prioritised the need to demonstrate a measurable outcome on the country’s youth in all our education-focused initiatives. This SWD is no exception, in collaboration with UWC – we have ensured that these graduating students are employable and that some are able to attain permanent employment through our partner network,” concluded Khoza.
    _________________________
    *Source – Unemployment in South Africa: A Youth Perspective | Statistics South Africa (statssa.gov.za)

    MIL OSI Economics –

  • MIL-OSI: Konsolidator to issue new shares in private placement – Inside information

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no 15-2024

    Søborg, October 8, 2024

    Konsolidator to issue new shares in private placement

    The Board of Directors of Konsolidator A/S (“Konsolidator”) has today exercised its authorization to issue new shares in a private placement of new shares with expected gross proceeds of up to DKK 2.2m. As announced in the H2 2024 report, the equity on June 30, 2024, was negative and management would take the necessary steps to reestablish it.

    The Board of Directors of Konsolidator has today exercised its authorization to resolve on an increase of the share capital in a directed issue without pre-emption rights for Konsolidator’s existing shareholders according to 3.1.8 of the articles of association.

    Consequently, the board of directors has resolved to issue up to a total of 573,979 new shares at a subscription price of DKK 3,92 per share corresponding to the volume weighted average of Konsolidator’s share price over the 5 trading days preceding the decision of the Board of Directors. Gross proceeds from the private placement corresponds to approximately DKK 2.2m.

    Use of net proceeds

    In the H1 2024 report published on August 22, 2024, Konsolidator continues to focus on the new growth initiatives including developing the new banking segment. Further, Konsolidator focuses on supporting Konsolidator Iberia in Spain and Portugal as well as developing Konsolidator into being a partner-sales driven company within the Microsoft D365 partner channel.

    In company announcement no 14-2024 on August 22, 2024, Konsolidator announced that the focus for Q3 2024 would be to strengthen the capital structure and improve operations as well as securing funding of the operations.

    CEO Claus Finderup Grove says: “We have asked a lot from our shareholders in 2024, and we are very appreciative for their patience. We have restructured our cost base in August and maintain our focus on becoming cash flow positive.”

    The resolution on the private placement of new shares

    The new shares issued as a result of the private placement will be registered at the Danish Business Authority upon receipt of final subscriptions and cash payments for the new shares. Following registration, the share capital will increase by the number of new shares subscribed, where each share will have a nominal value of DKK 0.04. Today, the company has a registered share capital of nominal DKK 886,428.84 and with full subscription the share capital will increase to nominal DKK 909,388.00.

    The new shares represent approximately 2.6% of Konsolidator’s share capital before the capital increase and 2.5% of Konsolidator’s share capital after the capital increase.

    The new shares will be negotiable instruments, and no restrictions will apply to their transferability. The new shares will not carry any special rights. The rights conferred by the new shares, including voting and dividend rights, will apply from the date when the capital increase is registered with the Danish Business Authority. The new shares are to be registered in the name of the holder in Konsolidator’s register of shareholders.

    Admission to trading and expected timetable

    Konsolidator expects to have received final subscriptions and subscription amounts no later than on October 14, 2024, following which the capital increase will be registered with the Danish Business Authority. The new shares will be issued under the ISIN code of Konsolidator’s existing shares (DK0061113511), and are expected to be admitted to trading on Nasdaq First North Growth Market Denmark no later than on 17 October, 2024.

    The offering of new shares and the admission to trading is exempt from the obligation to publish a prospectus.

    Contacts

    Certified Adviser

    About Konsolidator
    Konsolidator A/S is a financial consolidation software company whose primary objective is to make Group CFOs around the world better through automated financial consolidation and reporting in the cloud. Created by CFOs and auditors and powered by innovative technology, Konsolidator removes the complexity of financial consolidation and enables the CFO to save time and gain actionable insights based on key performance data to become a vital part of strategic decision-making. Konsolidator was listed at Nasdaq First North Growth Market Denmark in 2019. Ticker Code: KONSOL

    Attachment

    The MIL Network –

  • MIL-OSI United Kingdom: Delivering better outcomes for our future pensioners

    Source: United Kingdom – Executive Government & Departments

    Minister for Pensions Emma Reynolds addressed an audience at the ABI ‘Pension Investment: Where Next?’ event on Thursday 3 October.

    Location:
    1 America Square London EC3N 2LS to 1 Horse Guards Rd, London SW1A 2HQ
    Delivered on:
    (Transcript of the speech, exactly as it was delivered)

    Thank you for that kind introduction, and good morning everybody.

    I’m delighted to be here today. This is the third time I’ve been to the ABI in the last couple of months to discuss the government’s reform agenda for pensions, and in particular to highlight the work of the pensions Review, I’m very grateful to the ABI.

    Thank you, Yvonne and the team here for inviting me today and for also your ongoing commitment to working with the government to tackle the barriers that pension funds face to invest in growth assets. And I’d also like to give particular thanks to the ABI for your comprehensive response to our recent Call for Evidence, which closed last week.

    I’m delighted to be here today as the first joint DWP and HMT Minister for Pensions, as Yvonne has set out, the government is determined to bring down the silos between departments which too often in the past, have prevented effective Government and effective reform. And as the First Minister to sit between these two great Departments of State, I am excited by the job of work ahead.

    We face many challenges, but also we face many great opportunities to drive significant reform of pensions. As the Pensions Minister, I have two overarching objectives, first to increase pensions, investment in UK productive assets, supporting UK businesses of all sizes to grow and expand across the country. Second, to improve retirement outcomes for future pensioners, which everyone in this room and many millions of savers across the country have a stake in.

    Both of these objectives require more economic growth. The Chancellor reiterated in her commitment to powering growth in every part of Britain in her recent speech [political content redacted], growth is the most important of the government’s five missions to rebuild Britain, and as you will know, reforming pension investments is a crucial part of that.

    Earlier this year, in the King’s Speech, our new government announced a Pension Schemes Bill which includes three key elements. First, the Bill will enable the consolidation of multiple small pots, helping bring individuals eligible pots together in one place. This will support people to keep track of their savings so they can live better and more comfortably in retirement, but it will also mean that consolidators will generate scale at a greater rate, improving opportunity for investment.

    Second, the Bill will introduce a Value for Money Framework for defined contribution schemes, which you’ve already mentioned, to drive consolidation of the sector. We want to see fewer, larger providers who have the scale and expertise to invest in a more diverse portfolio. The Value for Money Framework will also contribute to economic growth, as there will be an increased focus on assets that can deliver long term value.

    Third, the Bill will introduce a requirement for pension schemes to offer retirement products, including a default retirement solution. It is crucial that we improve the options for people when they reach retirement age, and many have said to me that people feel as if they’re left on their own at that crucial time that they retire. But we need to go further, and in July, the Chancellor asked me to lead the first phase of the Pensions Review. I would like to thank all of you in this room who contributed to our Call for Evidence, especially given the short timeframe of our consultation.

    The consultation closed last week and asked questions relating to; DC and LGPS funds, driving further investment in the UK economy, scale and consolidation and driving a shift to value. We were delighted to receive over 100 responses, and it will come as no surprise that many of the themes that you’ll be discussing today have come through in those responses.

    We are putting together our proposals, taking into consideration the consultation responses and the stakeholder engagement we have been doing over the last few months, and we will publish an interim report in the autumn with the full recommendations from phase one to be published next year.

    It is essential to overcome the barriers to increasing pension fund investment in UK productive assets to support our capital markets, which in turn will drive growth in our economy and improve the retirement outcomes for future pensioners. I welcome the discussion on pension fund investments in infrastructure and illiquid assets that you will be having today, and the work that the ABI and its members are doing on this subject. Understanding the barriers that prevent DC schemes from investing more in these assets is crucial to the government’s reform agenda.

    I would also like to thank the PPI for publishing their report today ‘Pension Scheme assets a deep dive into infrastructure’. I was very pleased to read in the report that investment in infrastructure has been developing over the last five years. However, the proportion of infrastructure assets held by pension schemes is still a small minority, and DC schemes need to achieve greater scale and management capabilities to ensure infrastructure assets are a cost-effective component to their investment strategies. The PPI analysis underlines that we can collectively do more to drive this trend further, and I’m grateful for them, once again, for producing analysis and building our evidence base to support change.

    The Review is also exploring ways to drive greater scale and consolidation and working closely with employers, advisors, Trustees and pension providers on ways we can incentivise much greater competition on the basis of Pension returns, rather than purely cost in the DC market. On LGPS, I want to deliver a strong and sustainable scheme by tackling fragmentation and inefficiency. This will ensure that the LGPS serves the interests of members, employers and local communities, and supports growth across the economy.

    As part of the review, I also want to look at the way the current pension system operates. I want to ensure the market is well equipped to deal with the challenges of the future. So your discussion today around the Value for Money and other regulatory apparatus is a key enabler for getting this right. We want to shift the focus from price to value as a crucial part of delivering better retirement outcomes over the long term.

    Separate to phase one, will be a wider phase two, which will look more widely at further long-term steps we can take to improve pension outcomes, including assessing the level of savings people need to achieve the retirement that they want. There is no accident in the sequencing here. Growth is the government’s first priority, so we are prioritizing measures on pensions which can expedite growth and improve returns.

    The ABI is playing a crucial role in delivering this agenda, in particular, in monitoring the investments of some of the UK’s largest DC schemes, it is clear that rate of change and progress is required to reach the Mansion House complex commitment by 2030 the ABI has reported that schemes are taking enabling steps, by, for example, starting to recruit more resorts, engaging with clients as support and producing research to better understand the barriers.

    The ABI is instrumental in measuring developments going forward, and I hope that we will see a significant increase of pension fund investments into growth assets across the UK. The themes of today’s conference are fundamental to the pensions review, which I am leading. So, in conclusion, before you ask me some difficult questions, I want to challenge you as a collective group to continue to make changes, to drive further change. Thank you.

    Updates to this page

    Published 8 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI China: Chinese high-speed trains roll with innovation progress

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

    BEIJING, Oct. 8 — During the week-long National Day holiday ending on Monday, China’s high-speed railway stations were often bustling with crowds. Some passengers could be seen lined up in an orderly fashion as they prepared to board, while others could be spotted browsing their smartphones or using laptops when waiting for their boarding calls.

    The country’s railway sector experienced a surge in passenger traffic on Monday as travelers returned home from their holiday destinations.

    A total of 13,103 trains were in operation on Monday, including 1,705 additional trains scheduled to meet the significant demand. This marked a historic high for a single day’s operational capacity, according to China State Railway Group Co., Ltd.

    China has built the world’s largest high-speed railway network to address the people’s growing demand for convenient and comfortable travel.

    The total operational length of China’s high-speed railway network has exceeded 45,000 kilometers, with Fuxing high-speed trains operating across 31 provincial-level regions nationwide.

    This growing volume of railway transportation is supported by innovations and high-quality development concerning China’s rail transit equipment. Notably, the Fuxing high-speed train project received the State Scientific and Technological Progress Award in June 2024.

    CHINESE RAILWAY INNOVATION

    Once upon a time, the slow train with its signature green color dominated the travel memories of many Chinese people.

    Since the Beijing-Tianjin Intercity Railway, with a design speed of 350 km per hour, entered operation in 2008, a fast-expanding modern high-speed railway network has been operating efficiently in the world’s second-largest economy.

    Now it takes just over eight hours to travel from Hong Kong in south China to Beijing in the north by high-speed rail, a Canadian passenger with the Xiaohongshu username Lao Han, shared on his social media platform this April, while adding that he enjoyed the different views from south to north during the journey.

    Previously, a train connecting the two cities took more than 24 hours to complete a one-way trip.

    Such a rail experience is not confined to the Hong Kong-Beijing trip, with many bullet trains running across the country, reaching a maximum speed of 350 kilometers per hour. CRRC Changchun Railway Vehicles Co., Ltd in Changchun, northeast China’s Jilin Province, one of China’s major rail transit equipment enterprises, has long been contributing to the speeding up of the country’s railway travel options.

    Since the 1990s, China’s railway running speed has been repeatedly and significantly increased, with CRRC Changchun Railway Vehicles introducing a number of upgraded and innovative products to provide equipment support for these accelerations.

    Notably, this company produced China’s first subway train and first group of high-speed trains. The country’s first aluminum alloy subway train, stainless steel subway train, monorail train, low-floor light rail vehicle, linear electric locomotive and automatic subway train were also manufactured in the factories of CRRC Changchun Railway Vehicles.

    In July 2024, the company introduced a high-speed built-in bogie that can meet the needs of Electric Multiple Unit (EMU) trains at a speed of 400 km per hour.

    The high-speed built-in bogie serves as the running system and one of the core components of rail vehicles. “It acts as the legs of an EMU train,” explained Zhou Dianmai, a senior engineer of CRRC Changchun Railway Vehicles. Equipped with such a bogie, a train can run faster and more steadily, while also generating less noise.

    Compared with traditional external bogies, the built-in bogie reduces the weight of the train by 20 percent — which can cut energy consumption by 15 percent during the vehicle’s operation, lower wheel-rail wear by about 30 percent, and reduce wheel-rail noise by around two decibels. In addition, maintenance cost during the whole life cycle is slashed by approximately 15 percent. This product is expected to facilitate the green and energy-saving transformation of EMU trains.

    At the EMU bogie production line of CRRC Changchun Railway Vehicles, a big data analysis platform features key information, such as management costs and resource consumption. Through the processing of real-time data, this platform can generate product design and management suggestions.

    “The big data analysis platform improved the equipment utilization rate by 10 percent and decreased operation and management costs by 10 percent,” said Zhu Yan, deputy chief designer of the Fuxing bullet train at CRRC Changchun Railway Vehicles. Total average annual costs were reduced by more than 5 million yuan (about 700,830 U.S. dollars).

    Through learning from overseas advanced experience and customizing according to China’s unique conditions, the company has achieved both key technologies concerning rail transit equipment and capability in terms of R&D and manufacturing of full-range EMU trains.

    On March 21, 2024, the world’s first city train powered by hydrogen, independently developed by CRRC Changchun Railway Vehicles, conducted its maiden speed test run. Previously, such a combination of hydrogen energy and rail transit equipment had not been achieved.

    Running at a speed of 160 kilometers per hour at full load, the train consumed only five KWh energy per kilometer, while the data measuring each system confirmed stability during the test.

    So far, CRRC Changchun Railway Vehicles has managed to build nine product platforms with advanced EMU, subway trains and maglev trains, covering R&D capabilities in terms of full-type and full-variety rail transit products.

    WELCOME ABOARD CHINESE TRAINS

    China’s high-speed trains, a successful example of independent innovation, are now regarded as a Chinese “calling card” and are welcomed globally.

    Indonesia’s Jakarta-Bandung high-speed railway (HSR) noted in July 2024 that it had carried 4 million passengers since it began commercial operations on Oct. 17, 2023. Indonesian drivers have successfully operated the trains serving the HSR at a speed of 350 kilometers per hour.

    This is the first overseas high-speed railway project fully utilizing Chinese railway systems, technology and industrial components.

    The China Academy of Railway Sciences (CARS) has undertaken supervision and consultation concerning this high-speed railway, and has provided support in fields such as on-site quality control, drawing reviews and technical research.

    The 142.3-km high-speed railway has shortened the journey between Indonesia’s capital, Jakarta, and Bandung, a famous tourist city, to only 40 minutes.

    Meanwhile, a landmark project of high-quality Belt and Road cooperation, namely the China-Laos Railway, began operations in December 2021.

    “Before the China-Laos Railway opened, it took me two days to travel from Vientiane to Mongla by car,” said a Lao passenger. “Now, it takes me about five hours by train, which is very fast and convenient.”

    Another Chinese-built project, the Belgrade-Novi Sad high-speed railway, has transported nearly 8.8 million people between Serbia’s two largest cities since starting operation in 2022.

    At the Third Belt and Road Forum for International Cooperation in October 2023, CRRC Changchun Railway Vehicles signed a purchase contract with Serbia to introduce China’s bullet trains to this country in Eastern Europe.

    Based on a mature and reliable technical platform, both design and production of trains are tailored according to local railway conditions and technical specifications.

    In recent years, the products of CRRC Changchun Railway Vehicles have been exported to 23 countries and regions. The company’s export business model currently covers the full life cycle service of vehicles, and it has set up 11 branches and subsidiaries worldwide.

    “China’s high-speed trains feature high levels of science and technology, strong brand influence and thriving innovation,” said Tao Guidong, a scientist of CRRC.

    MIL OSI China News –

  • MIL-OSI Africa: Britain has neglected Africa and the Commonwealth for over a decade: 4 ways it can reset relations

    Source: The Conversation – Africa – By Nicholas Westcott, Professor of Practice in Diplomacy, Dept of Politics and International Studies, SOAS, University of London

    The United Kingdom is resetting its relations with Africa and other countries in the global south after more than a decade of neglect. At the United Nations in September, British prime minister Keir Starmer promised his government was

    returning the UK to responsible global leadership.

    This should include reconnecting with the countries of the global south which feel they have been neglected and among whom Britain’s voice is now at a discount.

    The new Labour government’s recently launched reviews of Britain’s global impact and its international economic and development policies provide an opportunity to reevaluate and relaunch these relations. The opportunity must be seized for the sake of global stability.

    The post-cold war order is fraying. America is increasingly reluctant to act as a global guarantor for a multilateral system governed by international rules and respecting human rights and freedoms. China, Russia and emerging middle powers such as Iran, Turkey and the Gulf States seem happier with a multipolar system based on the exercise of military and economic power. Meanwhile, the accelerating impact of climate change adds to the challenges to regional stability in Africa, Asia and the Middle East.

    I have followed these questions for nearly 50 years, as an academic and diplomat. Much has changed in those years, but recent British governments have been slow to adapt to these changes. To reconnect with countries in Africa and the global south, Britain needs a new attitude as well as new policies; and, paradoxically perhaps, the Commonwealth can play a constructive role in achieving this.

    Britain’s problem

    Distracted by its domestic political and economic difficulties since Brexit, recent British governments have neglected both Africa and the Commonwealth.

    • Aid has been cut, and policy incoherence exacerbated by the merger between the Foreign and Commonwealth Office and Department for International Development.

    • An investment conference with Africa due earlier in 2024 was scrapped at short notice.

    • Successive prime ministers gave little time to meeting African and other leaders from the global south. They had no answer to the questions being asked about Britain’s relationship with the south.

    Yet Britain’s links to these countries remain strong. Not least through the growing diaspora communities in the UK that are now an integral part of Britain’s social and political fabric. With 5.5 million people of Asian heritage and 2.5 million of African or mixed heritage in the UK in 2021, these bonds need to be politically recognised.

    Read more: How Commonwealth countries have forged a new way to appoint judges

    Most of those Britons come from Commonwealth countries. The Commonwealth as an organisation is no substitute for closer engagement with individual countries. But it provides a forum where connections can be made and a new, more equal relationship built.

    Though British governments have neglected it, King Charles, the ceremonial head of the Commonwealth, has not, as his visit to Kenya in 2023 showed. And other countries are still seeking to join, as Gabon and Togo did last year.

    Commonwealth heads of government meeting

    From 21-26 October Samoa will host the biennial Commonwealth Heads of Government meeting (Chogm), which will choose a new secretary-general – this time from Africa. The summit brings together representatives from every continent: from G7 members to least developed countries, from the most populous country (India at 1.45 billion people) to the smallest (Tuvalu with under 10,000), from major greenhouse gas emitters to small islands at risk of disappearing beneath the sea.

    Despite its imperial origins, the Commonwealth is an international network that cuts across the multi-polarity that risks dividing the world. It includes countries from the global south, the global north and the global east. The diversity makes it an ideal forum for honest conversations on difficult issues like climate change and multilateral institutional reform.

    Unlike the recent Forum on China-Africa Cooperation (Focac) in Beijing, the Commonwealth is an organisation run by its members. They share common values and interests as well as a common language. They come together to exchange ideas, not pledges of investment or aid. Its traditions of democracy and equality between members make it unique and valuable. It provides, for example, a ready-made network of global influence for any member state. For small island states, particularly in the Caribbean and Pacific, it is one forum where their voices can be amplified.

    This is important. With the community of nations struggling to address global challenges of the scale of climate change and pandemics, or to resolve regional conflicts, opportunities to build consensus are needed more than ever. The wars in Ukraine, the Middle East, the Sahel and the Horn of Africa are a portent of things to come if we fail to sustain a global structure that can resolve rather than exacerbate such conflicts. UN peacemaking efforts might then be crowned with success rather than with futility and frustration.

    What Britain needs to do

    Britain is only one among many voices, so it needs a persuasive narrative that will help preserve a world order that can tackle humanity’s challenges, rather than one that simply fights over what is left. The Commonwealth, like the UN, is a place where the UK can start building support for a more equal and more effective global system.

    A new narrative, and a new relationship with Africa and the global south, should be based on four elements.

    Firstly, repentance for sins past. Britain’s empire played a central role in making the modern world, for better and worse. While the better is often taken for granted, the sins of empire still rankle, and – like a stone in the shoe – will distract relations. Best therefore to acknowledge them, and move forward.

    Secondly, the new relationship must be based on mutual respect and partnership. In particular, the age of traditional development programmes with their paternalistic tendencies is past. What countries in the global south are seeking, as many feel they do get from China, is a genuine partnership of equals that recognises the relationship as a whole and focuses on the political as well as economic sources of growth.

    Thirdly, Britain needs to work with African and other southern governments to amplify their voice in multilateral institutions such as the UN and international financial institutions, so that those institutions genuinely protect their interests and those countries defend the institutions.

    Finally, Britain needs to engage with the public as much as with governments in these countries. The BBC World Service, the British Council and Britain’s education sector are becoming more important in challenging disinformation as the battle of narratives hots up. Now is the time to reinforce them, not let them fade away.

    A new narrative along these lines at Chogm, and incorporated into the government’s reviews, could be the start of a genuine reset in Britain’s relationship with the global south, to the benefit of all.

    – Britain has neglected Africa and the Commonwealth for over a decade: 4 ways it can reset relations
    – https://theconversation.com/britain-has-neglected-africa-and-the-commonwealth-for-over-a-decade-4-ways-it-can-reset-relations-239852

    MIL OSI Africa –

  • MIL-OSI Canada: Canada to re-open 10-year green bond

    Source: Government of Canada News

    This re-opening follows the successful issuance of a 10-year, $4 billion green bond in February 2024, which saw robust investor demand as demonstrated by a final order book of $7.4 billion. The February issuance is the government’s second green bond, following the successful issuance of Canada’s first 7.5-year, $5 billion green bond in March 2022.

    October 8, 2024 – Ottawa, Ontario – Department of Finance Canada

    The Government of Canada is announcing its plan to re-open its second Canadian-dollar-denominated green bond this week, subject to market conditions.

    This re-opening follows the successful issuance of a 10-year, $4 billion green bond in February 2024, which saw robust investor demand as demonstrated by a final order book of $7.4 billion. The February issuance was the government’s second green bond, following the successful issuance of Canada’s first 7.5-year, $5 billion green bond in March 2022.

    The government’s intent is to proceed with two transactions in fiscal year 2024-25—today’s re-opening and a separate offering at a later date—to meet the planned green bond issuance target outlined in Budget 2024.

    This offering will be the second under Canada’s updated Green Bond Framework, released on November 21, 2023. Canada is the first sovereign borrower to include certain nuclear expenditures in a green bond, demonstrating Canada’s commitment to being a global leader in clean nuclear power.

    Canada’s green bond program is supporting the growth of the sustainable finance market in Canada, and around the world, and advancing Canada’s investments in clean growth, renewable energy, climate action, and environmental protection. Green bonds unlock private financing to speed up projects such as green infrastructure and nature conservation.

    The Government of Canada’s green bonds will meet demand from investors seeking green investment opportunities backed by Canada’s AAA credit rating, while contributing to the development of a stronger sustainable finance market in Canada.

    • To support the growth of the sustainable finance market in Canada, in March 2022 the government launched the federal green bond program. Mobilizing capital through green bonds is an important element of Canada both meeting its 2030 emissions reduction targets and achieving net-zero emissions by 2050. Green bond projects will grow Canada’s economy and create more good-paying jobs across the country.

    • In March 2023, the government published its inaugural allocation report on the distribution of green bond proceeds, and an allocation and impact report in 2024. 

    • In November 2023, the Government of Canada updated its Green Bond Framework to make certain nuclear expenditures eligible, in line with the government’s position that nuclear power is vital, clean technology for Canada’s path to net-zero emissions by 2030, as well as updated taxonomies, international best practices, and evolving investor preferences.

    • Canada’s Green Bond Framework is aligned with the green bond frameworks of other sovereign issuers that have been widely accepted by green bond investors and market indices. Other sovereign green bond issuers include France, Germany, Sweden, Spain, Italy, and the United Kingdom.

    • Green bonds issued under the initial Framework continue under its parameters, and no proceeds from the first green bond issued in March 2022 will be allocated to nuclear related expenditures by the Government of Canada.

    • Sustainalytics, an independent environmental, social and governance (ESG) research group, concluded that Canada’s Green Bond Framework is a credible and transparent plan to deliver positive environmental benefits.

    MIL OSI Canada News –

  • MIL-OSI Canada: Message from the Minister of Mental Health and Addictions and Associate Minister of Health – Mental Illness Awareness Week

    Source: Government of Canada News

    Statement

    October 8, 2024 | Ottawa, ON | Health Canada

    This week is Mental Illness Awareness Week, an opportunity to highlight that everyone’s experience with mental illness is unique. Almost all of us have been affected by mental illness, either directly or through the experiences of our family, friends or colleagues. This year’s theme, “Access For All: Time for Action, Time for Change,” is a reminder that we must all work together to promote access to mental health care for everyone.

    Mental illness, including mood disorders, can affect how someone thinks, feels, and behaves, and can significantly impact a person’s day to day. Improving our knowledge and understanding of mental illness helps reduce barriers to care, like stigma. The Government of Canada is working to improve access to mental healthcare by challenging stigma, improving mental health literacy, funding culturally relevant and tailored resources and normalizing conversations to increase awareness and understanding of mental illness.

    Getting help for a mental illness can significantly improve your quality of life. Learning about mental illness and knowing when to reach out for help is an important part of self-care. Through the recently announced Youth Mental Health Fund, the government of Canada has committed to helping young Canadians access the mental health care they need by reducing wait times and providing more care options.

    If you or a loved one are struggling with lasting negative emotions or have concerns about mental health, visit Canada.ca/mental-health for free mental health resources.

    For those living with mental illness, support is available. Speak to a health care professional or someone you trust. You can also connect with Kids Help Phone which provides confidential mental health resources 24/7 for kids, teens and young adults, or the Hope for Wellness Helpline which provides Indigenous Peoples with immediate emotional support and crisis intervention with experienced and culturally sensitive helpline counsellors.

    If you or someone you know is thinking about suicide, call or text 9-8-8: Suicide Crisis Helpline at any time, from anywhere in Canada to access bilingual, trauma-informed, and culturally appropriate suicide prevention support.

    Mental Illness is as real as any physical illness, and no one should have to face it alone. We are working with all levels of government so that everyone in Canada has the mental health care support they need, when or where they need it.

    The Honourable Ya’ara Saks, P.C., M.P.

    MIL OSI Canada News –

  • MIL-OSI United Kingdom: Salford gains £2.7 million to support residents this winter

    Source: City of Salford

    Salford City Council have today (8 October) announced plans for the allocation of the Government’s extension of the Household Support Fund (HSF).

    Since HSF’s introduction in October 2021, Salford City Council has received over 50,000 applications for support, and in the last round of funding alone, covering the period April 2024 to September 2024, Salford received 5,500 applications for help with energy, food and other essential items and supported the families of over 15,000 children with holiday food vouchers during the school holidays.

    Round six of HSF will cover the period of Tuesday 1 October 2024 to Monday 31 March 2025.

    The latest round will support households struggling with the cost-of-living to cover food, energy and fuel costs. Residents who need support can apply directly for funding online or call Salford’s HSF helpline.

    The money will be distributed by Salford City Council’s Salford Assist team. The funding will be awarded by a grant payment to those who meet the eligibility criteria. Salford residents do not need to be in receipt of benefits to apply for the Household Support Fund and can apply for the scheme if they are also in receipt of other benefits and pension credits, all applications will be considered. 

    The funding will also be used to fund holiday food vouchers for children eligible for Free School Meals; Voluntary, Community and Social Enterprise (VCSE) partners to deliver food banks, food clubs and food schemes; and other areas of the council such as housing, adult social care, and welfare rights and debt advice.

    Councillor Tracy Kelly, Lead Member for Housing and Anti-Poverty at Salford City Council said: “The Household Support Fund has provided vital support to our most vulnerable residents across the city. As the winter period approaches, this much-needed support to heat homes and put food on the table will be crucial for many families across our city.

    “In Salford, we work hard to make sure vulnerable residents are supported in the best way possible. This funding will enable us to continue providing that assistance and our commitment to building a fairer, more equal society for everyone.”

    Salford City Mayor Paul Dennett said: “The Household Support Fund has been an essential support system, offering our residents much-needed help with food and heating, and ensuring that children on free school meals do not go hungry during school holidays.

    “This funding will help the most vulnerable in our communities and I’d urge anyone who is struggling financially to get in touch and see if you can benefit. The Household Support Fund is in place to support you.”

    This support forms part of Salford’s wider Tackling Poverty strategy which aims to make Salford a fairer and more inclusive place where everyone can live prosperous and fulfilling lives free from poverty and inequality. The funding has come from the Department for Work and Pensions.

    Learn more about the Household Support Fund and how to apply.

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    Date published
    Tuesday 8 October 2024

    Press and media enquiries

    MIL OSI United Kingdom –

  • MIL-OSI: 2024 State of Women’s Small Business Report by Block Advisors Reveals Resilience Despite Persistent Support Barriers

    Source: GlobeNewswire (MIL-OSI)

    Over 6,000 applicants of the Fund Her Future small business grant program show high confidence yet cite major barriers for women looking to start a business

    KANSAS CITY, Mo., Oct. 08, 2024 (GLOBE NEWSWIRE) — Today, Block Advisors by H&R Block unveiled its 2024 State of Women’s Small Business Report, which reveals that women entrepreneurs continue to face significant funding and support gaps, with these challenges being even more severe for BIPOC women. These systemic obstacles contribute to a personal confidence gap among owners themselves. Despite these barriers, many current business owners feel the outlook for their businesses’ future is positive.

    While nearly all applicants (94%) express feeling ‘somewhat’ to ‘very’ positive about 2025, respondents also express being cautious with finances given the state of today’s economy. Over half of respondents (56%) claim inflation has affected their prices this year; and over the next six months to a year, some respondents believe they may be forced to cut expenses (44%) and raise prices again due to inflation (39%). Despite cautious optimism, the report highlights significant challenges in women’s entrepreneurial journeys. The challenges experienced are even more pronounced for respondents who are racially diverse.

    “Starting a business has its fair share of struggles – sustaining it brings additional challenges,” said Jamil Khan, Chief Small Business Officer at H&R Block. “This report sheds light on the ongoing obstacles, helping us better understand the resources, guidance, and tools to which women entrepreneurs of all backgrounds need access. It’s commonly known that 50% of businesses close within five years of opening – this report helps us understand how we can work with women founders to beat those odds.”

    The 2024 State of Women’s Small Business Report by Block Advisors offers insights from 6,333 Fund Her Future grant applicants. The analysis underscores the profile, attitudes, and behaviors of these applicants, specifically in terms of the motivations, challenges, and needs of today’s women entrepreneurs. Block Advisors’ review of survey responses shows women founders’ future confidence is fueled by a spirit of perseverance. The majority of respondents cited facing substantial funding and support gaps when starting their business. These barriers may play into the confidence gap that was noted in over half of respondents.

    Block Advisors believes these findings reinforce the need for programs like the Fund Her Future grant. “It is clear that women entrepreneurs are determined to find success on their business journey. For these underserved business owners, the right support and guidance in those critical early years can make all the difference in navigating the challenging road ahead,” said Khan.

    Women Applicants Skew Younger, Diverse, and Seek Autonomy

    The grant applicant pool reveals that today’s woman entrepreneur in search of funding is a younger, educated, and racially diverse owner just starting their small business journey. Specifically, approximately half of respondents to the Fund Her Future grant survey were women who were Black (50%), college-educated or higher (63%), millennial (53%), and with two years or less of owning a business (49%).

    Responses indicated that these female founders deeply value being engaged leaders. Improving communities and the overall need for autonomy were among the top motivators for starting their businesses. Almost all (98%) of respondents mentioned improving a community as a motivator. This is supported by the industries represented by applicants: nearly one in four (23%) women own a business in counseling, education, tutoring, or business consulting.

    A preference for business autonomy and work flexibility were also leading catalysts toward business formation: 92% of those surveyed cited wanting to be their own boss and 89% cited wanting to set their own schedule. One in five (21%) women shared that they were starting a business to escape the traditional 9-to-5 work environment so that they could tap into the childcare flexibility of staying home with their kids. Not all aspiring entrepreneurs leave traditional workplaces right away, however. Exactly half of all respondents started their business as a side gig. A slower transition may allow for greater stability during the often-tenuous early years of a business startup, while still lending the founder more feelings of autonomy and self-directed purpose.

    Funding & Support Gaps Remain Big Barriers to Business Formation

    The report found four of the top five barriers to starting a business all dealt with funding and support gaps, further confirming the need to close these gaps through programs like Block Advisors by H&R Block’s Fund Her Future grant. In fact, a ‘lack of start-up capital’ (80%), ‘needing steady, reliable income’ (76%), and ‘needing a solid business plan’ (56%) round out the top three barriers, with ‘needing help getting started’ (50%) placing fifth. 

    Interestingly, 54% of respondents cited ‘fear of failure,’ making it the fourth most common barrier. This spotlights a little-talked-about confidence gap for over half of women entrepreneurs. One respondent stated, “Starting a new business can be daunting, especially as a first-time entrepreneur. The fear of failure, coupled with the challenges of securing funding, can be overwhelming.”​

    Digging deeper into the support gap, a lack of overall mentorship was a common theme. This points to a major barrier that keeps women from taking the leap to start their business. Additionally, one in four (27%) women business owners said they hesitated to start a business due to the lack of mentorship during the process.

    Funding gaps and struggles sourcing capital continue to be prevalent: one in three respondents applied for a bank loan, but 42% of those who applied were never approved. When looked at through an ethnicity lens, the picture becomes more concerning for BIPOC and Black women. Among those who applied for a bank loan, 45% of BIPOC applicants were never approved, compared to 36% of their white peers. Black women applicants seeking a bank loan reported being denied bank loans most frequently. 47% of Black women founders who applied for loans were ultimately denied and unable to access this type of funding.  

    What Women Entrepreneurs Need: Money, Marketing Support, and More Help with Tax Prep

    When asked what tops their wish list for achieving business success, women entrepreneurs confirmed their business would thrive if they had start-up capital (66%) and marketing and advertising support (45%).

    Furthermore, while starting a business can seem exciting and glamorous, respondents express owning a business comes with unexpected responsibilities. While they may have started their business to follow their passion, there are many administrative aspects that comprise the less appealing side of their business to-do lists. Overall, tax preparation (53%) and bookkeeping (40%) rank as the least favorite tasks for applicants, followed by website development and social media management (25%), and marketing & advertising (22%).

    On a similar note, amongst a list of eight business tasks, applicants are least confident in their ability to find all available tax credits and deductions: more than two-thirds of women claim they are only ‘somewhat confident’ to ‘very unconfident.’ Because of this – and coupled with the fact that tax preparation and bookkeeping rank as the two least favorite tasks – today’s woman small business owner may be at risk of leaving tax deductions on the table.

    “For the upcoming generation of women entrepreneurs, building a supportive network of trusted experts and advisors will be crucial in overcoming these challenges and achieving long-term success. Block Advisors takes pride in helping its small business customers offload the business tasks—such as tax preparation, bookkeeping, payroll, business formation, and beneficial owner reporting—to pursue their passions,” said Khan.

    Download the 2024 State of Women’s Small Business Report by Block Advisors.

    To learn more about Block Advisors and the Fund Her Future grant, visit http://www.BlockAdvisors.com and http://www.BlockAdvisors.com/FundHerFutureGrant.

    About H&R Block 
    H&R Block, Inc. (NYSE: HRB) provides help and inspires confidence in its clients and communities everywhere through global tax preparation services, financial products, and small-business solutions. The company blends digital innovation with human expertise and care as it helps people get the best outcome at tax time and also be better with money using its mobile banking app, Spruce. Through Block Advisors and Wave, the company helps small-business owners thrive with year-round bookkeeping, payroll, advisory, and payment processing solutions. For more information, visit H&R Block News.

    The MIL Network –

  • MIL-OSI Europe: Empowering Women Farmers in Central Asia: A New Era for Sustainable Agribusiness

    Source: Organization for Security and Co-operation in Europe – OSCE

    Headline: Empowering Women Farmers in Central Asia: A New Era for Sustainable Agribusiness

    The Central Asian Forum of Women Farmers, held on 8 October 2024 in Tashkent, Uzbekistan, emphasized the significant achievements of women in local agribusiness.   At the same time, it highlighted the challenges they encounter in this key sector of the nation’s economy.
    The Forum brought together officials from national authorities, including the Ministry of Agriculture of the Republic of Uzbekistan, women entrepreneurs from Central Asia and Azerbaijan’s business communities, international agribusiness experts, as well as representatives from foreign companies and international organizations.
    Mrs. Gulnora Makhmudova, Chairperson of the International Business Women’s Association of Uzbekistan “TADBIRKOR AYOL” (IBWA), opened the event by emphasizing the importance of knowledge exchange across the region. In her speech, she also provided a detailed overview of women’s involvement in Uzbekistan’s agribusiness sector.
    The forum encouraged lively discussions, offering valuable perspectives on effective strategies to enhance gender balance in Central Asia’s agribusiness sector. Attendees actively networked and exchanged their in-depth knowledge and visions for further development and income generating activities.
    “As we come together at this forum, we have the unique opportunity to create a platform for discussing innovative technologies in women’s agribusiness. By sharing our experiences and best practices, we can increase the interest of rural women in starting their own businesses and promote the development of women-led farms in Uzbekistan,” said Ambassador Antti Karttunen, OSCE Project Co-ordinator in Uzbekistan. “Together, we can develop proposals aimed at expanding foreign trade and promoting the products of Central Asian women farmers to new markets. By creating conditions for reaching concrete agreements among participants, we can implement inclusive business projects in promising areas of rural development,” he added.
    The regional event, which concluded with a set of recommendations, was organized by the OSCE Project Co-ordinator in Uzbekistan in collaboration with the IBWA and international donor organizations.

    MIL OSI Europe News –

  • MIL-OSI: Cloudera Unveils AI Inference Service with Embedded NVIDIA NIM Microservices to Accelerate GenAI Development and Deployment

    Source: GlobeNewswire (MIL-OSI)

    Cloudera’s AI Inference service boosts LLM performance speeds by 36x using NVIDIA accelerated computing and NVIDIA NIM microservices, providing enhanced performance, robust security, and scalable flexibility for enterprises

    Combined capability brings together companies’ differentiators in a single offering: Cloudera’s trusted data as the foundation for trusted AI with NVIDIA accelerated computing and the NVIDIA AI Enterprise software platform to deploy secure and performant AI applications privately on Cloudera

    SANTA CLARA, Calif and NEW YORK, Oct. 08, 2024 (GLOBE NEWSWIRE) — Cloudera, the only true hybrid platform for data, analytics, and AI, today launched Cloudera AI Inference powered by NVIDIA NIM microservices, part of the NVIDIA AI Enterprise platform. As one of the industry’s first AI inference services to provide embedded NIM microservice capability, Cloudera AI Inference uniquely streamlines the deployment and management of large-scale AI models, allowing enterprises to harness their data’s true potential to advance GenAI from pilot phases to full production.

    Recent data from Deloitte reveals the biggest barriers to GenAI adoption for enterprises are compliance risks and governance concerns, yet adoption of GenAI is progressing at a rapid pace, with over two-thirds of organizations increasing their GenAI budgets in Q3 this year. To mitigate these concerns, businesses must turn to running AI models and applications privately – whether on premises or in public clouds. This shift requires secure and scalable solutions that avoid complex, do-it-yourself approaches.

    Cloudera AI Inference protects sensitive data from leaking to non-private, vendor-hosted AI model services by providing secure development and deployment within enterprise control. Powered by NVIDIA technology, the service helps to build trusted data for trusted AI with high-performance speeds, enabling the efficient development of AI-driven chatbots, virtual assistants, and agentic applications impacting both productivity and new business growth.

    The launch of Cloudera AI Inference comes on the heels of the company’s collaboration with NVIDIA, reinforcing Cloudera’s commitment to driving enterprise AI innovation at a critical moment, as industries navigate the complexities of digital transformation and AI integration.

    Developers can build, customize, and deploy enterprise-grade LLMs with up to 36x faster performance using NVIDIA Tensor Core GPUs and nearly 4x throughput compared with CPUs. The seamless user experience integrates UI and APIs directly with NVIDIA NIM microservice containers, eliminating the need for command-line interfaces (CLI) and separate monitoring systems. The service integration with Cloudera’s AI Model Registry also enhances security and governance by managing access controls for both model endpoints and operations. Users benefit from a unified platform where all models—whether LLM deployments or traditional models—are seamlessly managed under a single service.

    Additional key features of Cloudera AI Inference include:

    • Advanced AI Capabilities: Utilize NVIDIA NIM microservices to optimize open-source LLMs, including LLama and Mistral, for cutting-edge advancements in natural language processing (NLP), computer vision, and other AI domains.
    • Hybrid Cloud & Privacy: Run workloads on prem or in the cloud, with VPC deployments for enhanced security and regulatory compliance.
    • Scalability & Monitoring: Rely on auto-scaling, high availability (HA), and real-time performance tracking to detect and correct issues, and deliver efficient resource management.
    • Open APIs & CI/CD Integration: Access standards-compliant APIs for model deployment, management, and monitoring for seamless integration with CI/CD pipelines and MLOps workflows.
    • Enterprise Security: Enforce model access with Service Accounts, Access Control, Lineage, and Auditing features.
    • Risk-Managed Deployment: Conduct A/B testing and canary rollouts for controlled model updates.

    “Enterprises are eager to invest in GenAI, but it requires not only scalable data but also secure, compliant, and well-governed data,” said industry analyst, Sanjeev Mohan. “Productionizing AI at scale privately introduces complexity that DIY approaches struggle to address. Cloudera AI Inference bridges this gap by integrating advanced data management with NVIDIA’s AI expertise, unlocking data’s full potential while safeguarding it. With enterprise-grade security features like service accounts, access control, and audit, organizations can confidently protect their data and run workloads on prem or in the cloud, deploying AI models efficiently with the necessary flexibility and governance.”

    “We are excited to collaborate with NVIDIA to bring Cloudera AI Inference to market, providing a single AI/ML platform that supports nearly all models and use cases so enterprises can both create powerful AI apps with our software and then run those performant AI apps in Cloudera as well,” said Dipto Chakravarty, Chief Product Officer at Cloudera. “With the integration of NVIDIA AI, which facilitates smarter decision-making through advanced performance, Cloudera is innovating on behalf of its customers by building trusted AI apps with trusted data at scale.”

    “Enterprises today need to seamlessly integrate generative AI with their existing data infrastructure to drive business outcomes,” said Kari Briski, vice president of AI software, models and services at NVIDIA. “By incorporating NVIDIA NIM microservices into Cloudera’s AI Inference platform, we’re empowering developers to easily create trustworthy generative AI applications while fostering a self-sustaining AI data flywheel.”

    These new capabilities will be unveiled at Cloudera’s premier AI and data conference, Cloudera EVOLVE NY, taking place Oct. 10. Click here to learn more about how these latest updates deepen Cloudera’s commitment, elevating enterprise data from pilot to production with GenAI.

    About Cloudera
    Cloudera is the only true hybrid platform for data, analytics, and AI. With 100x more data under management than other cloud-only vendors, Cloudera empowers global enterprises to transform data of all types, on any public or private cloud, into valuable, trusted insights. Our open data lakehouse delivers scalable and secure data management with portable cloud-native analytics, enabling customers to bring GenAI models to their data while maintaining privacy and ensuring responsible, reliable AI deployments. The world’s largest brands in financial services, insurance, media, manufacturing, and government rely on Cloudera to use their data to solve what seemed impossible—today and in the future.

    To learn more, visit Cloudera.com and follow us on LinkedIn and X. Cloudera and associated marks are trademarks or registered trademarks of Cloudera, Inc. All other company and product names may be trademarks of their respective owners.

    Contact

    Jess Hohn-Cabana
    cloudera@v2comms.com

    The MIL Network –

  • MIL-OSI: ibex Expands Call Center Operations in Honduras, Creating 250 New Jobs in the Region

    Source: GlobeNewswire (MIL-OSI)

    TEGUCIGALPA, Honduras, Oct. 08, 2024 (GLOBE NEWSWIRE) — ibex (NASDAQ: IBEX), a leading global provider of business process outsourcing (BPO) and customer engagement technology solutions, today announced a significant expansion of its operations in Tegucigalpa, the capital of Honduras. This expansion underscores ibex’s commitment to growth in the region and strengthens its nearshore strategy.

    ibex has officially added almost 10,000 square feet of space to its real estate footprint in Honduras. The expanded facility now includes more than 180 additional production seats, representing a 35% increase in operational capacity. The space also features additional recreational areas, offices and training spaces, demonstrating ibex’s dedication to creating a supportive and productive work environment for its employees.

    ibex’s expanded operations in Honduras are expected to create approximately 250 new job opportunities, further contributing to the local economy. The new space became operational in mid-September, with the frontline team successfully handling its first calls. ibex anticipates full utilization of the upgraded space in the coming month.

    “Our continued investment in Honduras reflects ibex’s unwavering commitment to the country and reinforces our successful nearshore strategy. I want to extend my gratitude to all team members who contributed their time and effort in bringing this project to fruition,” said Bob Dechant, CEO of ibex. “Our increased presence in Honduras is not only creating valuable employment opportunities, but also strengthening our ability to deliver high-quality services to our global clients. This expansion is also a testament to the skilled workforce in Honduras and our confidence in the country as a key hub for our operations.”

    The expansion comes on the heels of an impressive year of growth for ibex Honduras. In fiscal year 2024, the office saw a remarkable 249% increase in headcount, reflecting the rapid scaling of operations in the country. This growth has been driven by the introduction of new lines of business and clients within the Fintech vertical, as well as an expansion into HR support services.

    Employee development and internal advancement in Honduras are key to ibex’s success, as evidenced by the promotion of 156 team members during fiscal year 2024. With the current expansion, ibex anticipates even more promotional opportunities in Honduras, further strengthening the company’s position as an employer of choice in the region.

    ibex has been recognized for its outstanding culture, employee experience, development opportunities, and service, including Best Place to Work for Women in Central America and the Caribbean by Great Place to Work, Nearshore Company of the Year by Nearshore Americas, and Central America and Caribbean Company of the Year by Frost & Sullivan.

    About ibex

    ibex delivers innovative business process outsourcing (BPO), smart digital marketing, online acquisition technology, and end-to-end customer engagement solutions to help companies acquire, engage and retain valuable customers. Today, ibex operates a global CX delivery center model consisting of approximately 30 operations facilities around the world, while deploying next generation technology to drive superior customer experiences for many of the world’s leading companies across retail, e-commerce, healthcare, fintech, utilities and logistics.

    ibex leverages its diverse global team of over 30,000 employees together with industry-leading technology, including the AI-powered ibex Wave iX solutions suite, to manage nearly 175 million critical customer interactions, adding over $2.2B in lifetime customer revenue each year and driving a truly differentiated customer experience. To learn more, visit our website at ibex.co and connect with us on LinkedIn.

    Media Contact:
    Dan Burris
    ibex
    Daniel.Burris@ibex.co

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/877c79ca-4329-4c48-b613-1c7f982f52c9

    The MIL Network –

  • MIL-OSI Canada: Travelling for Thanksgiving long weekend? The CBSA gives tips for a smooth trip

    Source: Government of Canada News (2)

    October 8, 2024
    Ottawa, Ontario

    The Canada Border Services Agency (CBSA) reminds travellers that it can be extra busy at the border over the Thanksgiving long weekend.

    Every day, the CBSA works hard to protect Canadians, support the economy and ensure the safe and efficient movement of people and goods across the border. In 2023, we welcomed over 86 million travellers and intercepted more than 72,200 kg of prohibited drugs, cannabis, narcotics, and chemicals, representing an increase of close to 30% from 2022.

    The CBSA is dedicated to planning and preparing for peak periods, including long weekends and summer months. We monitor traveller volumes and take measures to minimize border wait times at land ports of entry and at international airports, without compromising safety and security.

    Here are some tips to help you plan for your trip:

    • Check border wait times and expect delays.
      • Early mornings are the best time to cross the border to avoid wait times.
      • The Monday of  holiday long weekends tend to be the busiest.
      • Consider an alternative port of entry with shorter wait times or less traffic.
      • Check the port of entry’s hours of operation on the official CBSA Directory of Offices and Services.
      • If you are using a GPS application (such as Google Maps, Apple Maps or Waze) to direct you to a port of entry, consider checking different navigation options (such as fastest and shortest routes) to determine the preferred route of travel.
    • Have your travel documents handy. This will speed up processing times at the border.
    • Be prepared to declare. Declare everything you have with you upon entry into Canada. If arriving by land, you are responsible for everything inside your vehicle.
    • When travelling with children, it is recommended that the accompanying adult have a consent letter authorizing them to travel with the child if they share custody or are not the parent or legal guardian. Border services officers are always watching for missing children, and in the absence of the letter, officers may ask additional questions.
    • Travelling with pets? Pets must meet specific requirements to enter Canada. Review Importing and travelling with pets before leaving.
      • Will you be going to the U.S. with a dog? As of August 1, 2024, there are updated documentation requirements for all dogs entering the U.S. from Canada. For more information, visit Dogs travelling to the United States.
    • Flying into Canada? Use Advance Declaration and make your customs and immigration declaration up to 72 hours in advance of your arrival into Canada at participating airports.
    • Entering Canada by boat? You must report to the CBSA without delay. Review reporting requirements for private boaters before making travel plans. If you are the operator of a boat entering Canadian waters with the intent to disembark, you are responsible for reporting your goods on board.
      • Are you towing or transporting a watercraft or any water-related equipment (canoe, paddleboard, etc.) into Canada? If so, these items must be clean, dry, and free of any aquatic invasive plants or species. Learn more: Clean, Drain, Dry and Decontaminate.

    Are you bringing any of the following into Canada?

    Restricted and prohibited goods:

    Make sure you review the necessary information before attempting to bring certain items into Canada. If not, you risk having your goods seized or facing fines and prosecution.

    • Firearms: Leave them at home. You are encouraged not to travel with firearms. If you choose to do so, be sure to check the rules on importing firearms.
    • Weapons: Restricted and prohibited goods include pepper spray, switchblades, and butterfly knives.
    • Narcotics: Narcotics such as cocaine and heroin are illegal in Canada.  If you are found to be in possession of illegal drugs (on your person, in your vehicle, or in your luggage) you will be arrested and may be charged. The drugs will be seized.
    • Cannabis: Don’t bring it in. Don’t take it out. While cannabis is legal in Canada, bringing it across the border in any form, including oils containing tetrahydrocannabinol (THC) or cannabidiol (CBD), without a permit or exemption authorized by Health Canada is a serious criminal offence subject to arrest and prosecution. A medical prescription from a doctor does not count as Health Canada authorization.

    Not sure? Ask a CBSA officer. The best way to save time is to be open and honest with the border services officer. If you are not sure about what to declare, don’t hesitate to ask!

    For more information, visit the CBSA website or call us at 1-800-461-9999.

    For more information or to schedule an interview with a CBSA representative, please contact:

    MIL OSI Canada News –

  • MIL-OSI United Kingdom: Social Security Advisory Committee reappointments

    Source: United Kingdom – Executive Government & Departments

    The Social Security Advisory Committee have reappointed Carl Emmerson and Phil Jones.

    The Secretary of State for Work and Pensions has confirmed the reappointment of Carl Emmerson and Phil Jones as Members of the Social Security Advisory Committee (SSAC). The reappointments extend Carl and Phil’s membership to 31 July 2026.

    Appointments and reappointments to the Committee are made by the Secretary of State for Work and Pensions and are regulated by the Commissioner for Public Appointments. The reappointment has been made in line with the Governance Code on Public Appointments.

    Carl Emmerson

    Carl Emmerson is Deputy Director of the Institute for Fiscal Studies (IFS), a Fellow of the Academy of Social Sciences, an editor of the annual IFS Green Budget and a Director of the Pensions Review. His research includes issues around the UK’s public finances, and household retirement saving decisions. He is also a member of the advisory panel of the Office for Budget Responsibility, and the UK Statistics Authority’s Methodological Assurance Review Panel.

    Phil Jones

    Since October 2021 Phil Jones has been Chief Executive of the Welsh Social Enterprise, Business in Focus, which provides a suite of business support services across Wales, including the delivery of the Welsh Government’s flagship ‘Business Wales’ service.

    Phil was previously the Director of Prince’s Trust Cymru for 5 years and, before that, the Wales Area Manager for The Royal British Legion.  Phil also served in the Armed Forces for over 25 years as an officer in The Royal Welsh.
    About the Committee

    The Social Security Advisory Committee is an independent advisory body of the Department for Work and Pensions. Its statutory remit is to:

    • to provide advice and assistance to the Secretary of State, whether in response to a specific request or on its own initiative
    • to scrutinise secondary legislation relating to social security for the benefit of the Secretaries of State for Work and Pensions or the Department for Social Development in Northern Ireland, and Parliament

    The Committee Membership comprises:

    • Dr Stephen Brien (Chair)
    • Les Allamby
    • Bruce Calderwood
    • Rachel Chiu
    • Carl Emmerson
    • Daphne Hall
    • Professor Stephen Hardy
    • Jacob Meagher
    • Philip Jones
    • Dr Suzy Walton

    Contact SSAC

    Further enquiries should be directed to the Committee Secretary:

    Social Security Advisory Committee
    7th Floor Caxton House
    Tothill Street
    London
    SW1H 9NA

    Email: ssac@ssac.gov.uk

    Tel: 0300 046 0323

    Updates to this page

    Published 8 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI USA: Congresswoman Tenney Releases Statement on the Need to Preserve Trump Tax Cuts

    Source: United States House of Representatives – Congresswoman Claudia Tenney (NY-22)

    Oswego, New York – Congresswoman Claudia Tenney (NY-24) today released the following statement underscoring the importance of maintaining the tax cuts introduced under the Tax Cuts and Jobs Act (TCJA), commonly known as the Trump Tax Cuts. 

    In 2017, with Tenney’s strong support, Republicans enacted the TCJA which reduced taxes on middle-income families and small businesses and created nearly five million domestic jobs in just the two years after its passage. In 2022, Tenney supported the TCJA Permanency Act to make permanent the tax cuts for individuals and small businesses originally enacted as part of the Tax Cuts and Jobs Act (TCJA) of 2017. 

    However, these tax cuts are set to expire on December 31, 2025, which could mean significant tax increases for the 440,200 taxpayers in New York’s 24th District. The average taxpayer in NY-24 could face a 25% tax hike if the cuts are not extended. A family of four with a median income of $69,878 in NY-24 would experience a $1,373 tax increase, equivalent to about seven weeks’ worth of groceries for a typical family.

    Impact on NY-24 by the Numbers:

    • 78,990 families would see their Child Tax Credit cut in half.
    • 92% of taxpayers would see their Standard Deduction reduced by nearly 50%.
    • 40,720 small businesses would pay an effective 43.4% tax rate if the 199A Qualified Business Income Deduction expires.
    • 14,827 taxpayers would be affected by the return of the individual Alternative Minimum Tax.
    • The current death tax exemption will be cut in half, affecting 6,804 family-owned farms in NY-24.

    “Since its passage in 2017, the Tax Cuts and Jobs Act has delivered financially for families, small businesses, and hardworking Americans across the country,” said Congresswoman Tenney. “Millions of Americans have seen their tax burdens reduced, but if these cuts expire, hardworking families in our community could face a 25% tax hike. We must preserve the TCJA provisions that have provided much-needed relief to taxpayers in New York. As a strong advocate for pro-growth policies, I will continue working to ensure the benefits of the Trump Tax Cuts remain in place for future generations.”

    ###

    MIL OSI USA News –

  • MIL-OSI Global: Britain has neglected Africa and the Commonwealth for over a decade: 4 ways it can reset relations

    Source: The Conversation – Africa – By Nicholas Westcott, Professor of Practice in Diplomacy, Dept of Politics and International Studies, SOAS, University of London

    The United Kingdom is resetting its relations with Africa and other countries in the global south after more than a decade of neglect. At the United Nations in September, British prime minister Keir Starmer promised his government was

    returning the UK to responsible global leadership.

    This should include reconnecting with the countries of the global south which feel they have been neglected and among whom Britain’s voice is now at a discount.

    The new Labour government’s recently launched reviews of Britain’s global impact and its international economic and development policies provide an opportunity to reevaluate and relaunch these relations. The opportunity must be seized for the sake of global stability.

    The post-cold war order is fraying. America is increasingly reluctant to act as a global guarantor for a multilateral system governed by international rules and respecting human rights and freedoms. China, Russia and emerging middle powers such as Iran, Turkey and the Gulf States seem happier with a multipolar system based on the exercise of military and economic power. Meanwhile, the accelerating impact of climate change adds to the challenges to regional stability in Africa, Asia and the Middle East.

    I have followed these questions for nearly 50 years, as an academic and diplomat. Much has changed in those years, but recent British governments have been slow to adapt to these changes. To reconnect with countries in Africa and the global south, Britain needs a new attitude as well as new policies; and, paradoxically perhaps, the Commonwealth can play a constructive role in achieving this.

    Britain’s problem

    Distracted by its domestic political and economic difficulties since Brexit, recent British governments have neglected both Africa and the Commonwealth.

    • Aid has been cut, and policy incoherence exacerbated by the merger between the Foreign and Commonwealth Office and Department for International Development.

    • An investment conference with Africa due earlier in 2024 was scrapped at short notice.

    • Successive prime ministers gave little time to meeting African and other leaders from the global south. They had no answer to the questions being asked about Britain’s relationship with the south.

    Yet Britain’s links to these countries remain strong. Not least through the growing diaspora communities in the UK that are now an integral part of Britain’s social and political fabric. With 5.5 million people of Asian heritage and 2.5 million of African or mixed heritage in the UK in 2021, these bonds need to be politically recognised.



    Read more:
    How Commonwealth countries have forged a new way to appoint judges

    Most of those Britons come from Commonwealth countries. The Commonwealth as an organisation is no substitute for closer engagement with individual countries. But it provides a forum where connections can be made and a new, more equal relationship built.

    Though British governments have neglected it, King Charles, the ceremonial head of the Commonwealth, has not, as his visit to Kenya in 2023 showed. And other countries are still seeking to join, as Gabon and Togo did last year.

    Commonwealth heads of government meeting

    From 21-26 October Samoa will host the biennial Commonwealth Heads of Government meeting (Chogm), which will choose a new secretary-general – this time from Africa. The summit brings together representatives from every continent: from G7 members to least developed countries, from the most populous country (India at 1.45 billion people) to the smallest (Tuvalu with under 10,000), from major greenhouse gas emitters to small islands at risk of disappearing beneath the sea.

    Despite its imperial origins, the Commonwealth is an international network that cuts across the multi-polarity that risks dividing the world. It includes countries from the global south, the global north and the global east. The diversity makes it an ideal forum for honest conversations on difficult issues like climate change and multilateral institutional reform.

    Unlike the recent Forum on China-Africa Cooperation (Focac) in Beijing, the Commonwealth is an organisation run by its members. They share common values and interests as well as a common language. They come together to exchange ideas, not pledges of investment or aid. Its traditions of democracy and equality between members make it unique and valuable. It provides, for example, a ready-made network of global influence for any member state. For small island states, particularly in the Caribbean and Pacific, it is one forum where their voices can be amplified.

    This is important. With the community of nations struggling to address global challenges of the scale of climate change and pandemics, or to resolve regional conflicts, opportunities to build consensus are needed more than ever. The wars in Ukraine, the Middle East, the Sahel and the Horn of Africa are a portent of things to come if we fail to sustain a global structure that can resolve rather than exacerbate such conflicts. UN peacemaking efforts might then be crowned with success rather than with futility and frustration.

    What Britain needs to do

    Britain is only one among many voices, so it needs a persuasive narrative that will help preserve a world order that can tackle humanity’s challenges, rather than one that simply fights over what is left. The Commonwealth, like the UN, is a place where the UK can start building support for a more equal and more effective global system.

    A new narrative, and a new relationship with Africa and the global south, should be based on four elements.

    Firstly, repentance for sins past. Britain’s empire played a central role in making the modern world, for better and worse. While the better is often taken for granted, the sins of empire still rankle, and – like a stone in the shoe – will distract relations. Best therefore to acknowledge them, and move forward.

    Secondly, the new relationship must be based on mutual respect and partnership. In particular, the age of traditional development programmes with their paternalistic tendencies is past. What countries in the global south are seeking, as many feel they do get from China, is a genuine partnership of equals that recognises the relationship as a whole and focuses on the political as well as economic sources of growth.

    Thirdly, Britain needs to work with African and other southern governments to amplify their voice in multilateral institutions such as the UN and international financial institutions, so that those institutions genuinely protect their interests and those countries defend the institutions.

    Finally, Britain needs to engage with the public as much as with governments in these countries. The BBC World Service, the British Council and Britain’s education sector are becoming more important in challenging disinformation as the battle of narratives hots up. Now is the time to reinforce them, not let them fade away.

    A new narrative along these lines at Chogm, and incorporated into the government’s reviews, could be the start of a genuine reset in Britain’s relationship with the global south, to the benefit of all.

    Nicholas Westcott 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. Britain has neglected Africa and the Commonwealth for over a decade: 4 ways it can reset relations – https://theconversation.com/britain-has-neglected-africa-and-the-commonwealth-for-over-a-decade-4-ways-it-can-reset-relations-239852

    MIL OSI – Global Reports –

  • MIL-OSI: US Technology Leaders Tap NVIDIA AI Software to Transform World’s Industries

    Source: GlobeNewswire (MIL-OSI)

    • AT&T, Lowe’s, University of Florida Among First Organizations Using NVIDIA NeMo
    • Accenture, Deloitte, Quantiphi, SoftServe Tap NVIDIA NeMo, NIM Microservices and NIM Agent Blueprints to Create Custom Generative AI Agents for Clients
    • Cloudera, DataStax, Google Cloud, NetApp, SAP, ServiceNow, Teradata Advance Data and AI Platforms With NIM

    WASHINGTON, Oct. 08, 2024 (GLOBE NEWSWIRE) — NVIDIA AI Summit — NVIDIA today announced it is teaming with U.S. technology leaders to help organizations create custom AI applications and transform the world’s industries using the latest NVIDIA NIM™ Agent Blueprints and NVIDIA NeMo™ and NVIDIA NIM microservices.

    Across industries, organizations like AT&T, Lowe’s and the University of Florida are using the microservices to create their own data-driven AI flywheels to power custom generative AI applications.

    U.S. technology consulting leaders Accenture, Deloitte, Quantiphi and SoftServe are adopting NVIDIA NIM Agent Blueprints and NVIDIA NeMo and NIM microservices to help clients in healthcare, manufacturing, telecommunications, financial services and retail create custom generative AI agents and copilots.

    Data and AI platform leaders Cadence, Cloudera, DataStax, Google Cloud, NetApp, SAP, ServiceNow and Teradata are advancing their data and AI platforms with NVIDIA NIM.

    “AI is driving transformation and shaping the future of global industries,” said Jensen Huang, founder and CEO of NVIDIA. “In collaboration with U.S. companies, universities and government agencies, NVIDIA will help advance AI adoption to boost productivity and drive economic growth.”

    NVIDIA NeMo Microservices for Precision-Tailored Generative AI
    NVIDIA NeMo microservices support end-to-end model customization workflows and the development of AI agents to help enterprises bring custom generative AI applications to market faster, reducing development costs.

    New NeMo microservices — NeMo Customizer, NeMo Evaluator and NeMo Guardrails — can be paired with NIM microservices to help developers easily curate data at scale, customize and evaluate models, and manage responses to align with business objectives. Developers can then seamlessly deploy a custom NIM microservice across any GPU-accelerated cloud, data center or workstation.

    New NVIDIA NIM Agent Blueprint for Software Security Now Available
    To provide a jump-start for developers, NVIDIA offers NIM Agent Blueprints — reference workflows that provide a guide for developing applications built with NVIDIA NeMo and NIM microservices.

    NIM Agent Blueprints help accelerate AI deployments for key enterprise use cases, including drug discovery, customer service and data extraction. A new blueprint for software container security is available today.

    Developers can experiment with NeMo and NIM microservices, as well as NVIDIA NIM Agent Blueprints, at no charge. Enterprises can deploy applications in production with enterprise-grade security, support and stability through the NVIDIA AI Enterprise software platform.

    NVIDIA Microservices Build Custom AI Agents for Industries
    Leaders across industries are using NVIDIA AI to improve telecommunications, education and security.

    • AT&T is working with Quantiphi to build a conversational platform, using NVIDIA NIM, that can support employees with software development, network engineering and financial services tasks.
    • The University of Florida has adopted NVIDIA NIM and NeMo to advance its learning management system, based on retrieval-augmented generation, that helps teaching assistants improve student success and retention.
    • Lowe’s, a FORTUNE 50 home improvement company, is exploring the use of NVIDIA NIM and NeMo microservices to improve experiences for associates and customers and enhance productivity of their store associates. For example, the retailer is leveraging NVIDIA NeMo Guardrails to enhance the safety and security of its generative AI solution platform.

    Global Consulting Giants Accelerate AI Adoption With NeMo
    NVIDIA global service provider and service delivery partners are helping companies across industries use NVIDIA NeMo and NIM microservices and NIM Agent Blueprints to build custom AI applications that tap into business data.

    • Accenture is helping clients build domain-specific AI agents using NVIDIA NeMo and NIM microservices through its AI Refinery™ and the Accenture NVIDIA Business Group.
    • Deloitte is integrating the latest NVIDIA NIM Agent Blueprint into its cybersecurity solutions, which will help enterprises accelerate software vulnerability analysis and mitigation at scale.
    • SoftServe’s generative AI Industrial Assistant, which uses NeMo and NIM microservices, improves safety and efficiency in industrial manufacturing by making equipment manuals more accessible and providing factory workers real-time guidance on troubleshooting and maintenance.

    Data and AI Platforms Advance Insight With NeMo and NIM Microservices
    NVIDIA AI ecosystem partners Cadence, Cloudera, DataStax, Google Cloud, NetApp, SAP, ServiceNow and Teradata are using NeMo and NIM microservices to build customized generative AI applications with optimized inference.

    • Cloudera today unveiled an AI Inference Service with embedded NIM that will allow developers to build, customize and deploy enterprise-grade large language models with up to 36x faster inference performance.
    • Google Cloud is integrating NIM into Google Kubernetes Engine to provide enterprise customers with a simplified path for deploying optimized models directly from the Google Cloud Marketplace.
    • SAP will use NIM microservices to deploy custom generative AI applications for its clients.
    • ServiceNow is one of the first to adopt NeMo and NIM microservices, and recently announced its plans to also adopt NVIDIA NIM Agent Blueprints to power generative AI use cases for several U.S. government agencies. ServiceNow’s technology also enables organizations to create custom generative AI agents that can reinvent work across the entire enterprise.
    • Teradata is integrating NVIDIA AI Enterprise into its Vantage platform to enable more efficient development and deployment of trusted generative AI applications.

    Availability
    Developers can access NVIDIA AI software, including NIM microservices, through the NVIDIA API catalog, as well as experiment with the microservices for free using an NVIDIA Developer license.

    About NVIDIA
    NVIDIA (NASDAQ: NVDA) is the world leader in accelerated computing.

    For further information, contact:
    Anna Kiachian
    NVIDIA Corporation
    +1-650-224-9820
    akiachian@nvidia.com

    Certain statements in this press release including, but not limited to, statements as to: the benefits, impact, performance, features, and availability of NVIDIA’s products and technologies, including NVIDIA NeMo and NIM microservices, NeMo Customizer, NeMo Evaluator, NeMo Guardrails, NIM Agent Blueprints, and NVIDIA AI Enterprise software platform; third parties using or adopting NVIDIA products, technologies and platforms, and the benefits and impacts thereof; our collaboration with third parties and the benefits and impacts thereof; NVIDIA global service provider and service delivery partners helping companies across industries use NVIDIA NeMo and NIM microservices and NIM Agent Blueprints to build custom AI applications that tap into business data; artificial intelligence driving transformations and shaping the future of industries; and working with our U.S. technology partners, NVIDIA helping the world build custom AI applications that serve unique industry needs and reflect local languages and cultures, as well as our core values of ethics and innovation that preserve American leadership in AI are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic conditions; our reliance on third parties to manufacture, assemble, package and test our products; the impact of technological development and competition; development of new products and technologies or enhancements to our existing product and technologies; market acceptance of our products or our partners’ products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of our products or technologies when integrated into systems; as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of reports filed with the SEC are posted on the company’s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

    © 2024 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, NVIDIA NeMo and NVIDIA NIM are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and other countries. Other company and product names may be trademarks of the respective companies with which they are associated. Features, pricing, availability and specifications are subject to change without notice.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ce44ce3e-d1a7-4109-a54e-6b7f66a31267

    The MIL Network –

  • MIL-OSI Security: Six Men Indicted in Connection with “ATM Jackpotting” Conspiracy

    Source: Federal Bureau of Investigation (FBI) State Crime News

    SYRACUSE, NEW YORK – Joelvis Jose Rivas-Solorzano, Silvio Fabian-Ordonez, Jose Medina, Jose Navarro, Deivy Santiago Pena-Rojas, Jefferson Jose Marquez-Marquez, all citizens of Venezuela, were indicted for conspiracy to commit bank larceny, and bank larceny related to their involvement in a nationwide automatic teller machine (ATM) Jackpotting Scheme. United States Attorney Carla B. Freedman and Craig. L. Tremaroli, Special Agent in Charge of the Albany Field Office of the Federal Bureau of Investigation (FBI) made the announcement.

    “ATM jackpotting” is the exploitation of physical and software vulnerabilities in ATMs that result in the machines dispensing cash to unauthorized fraudsters. Typically, during ATM jackpotting events one or two people use a key to access the inside of an ATM to install a foreign device that allows a hacker to assume control of the ATM. After the ATM is compromised, groups of individuals arrive at the ATM to conduct transactions and the ATM dispenses its cash reserves, which are untethered to any bank account. 

    In December 2023, several financial institutions in the Northern District of New York became victims of an ATM Jackpotting scheme. In total, over $400,000.00 was stolen during four separate ATM jackpotting events in Onondaga, Broome, and Chenango counties.

    Joelvis Jose Rivas-Solorzano, Silvio Fabian-Ordonez, Jose Medina, Jose Navarro, and Deivy Santiago Pena-Rojas have all been arrested and are in custody in the Northern District of New York. Jefferson Jose Marquez-Marquez is in custody in South Dakota and is awaiting transport to the Northern District of New York.

    The charges to which Joelvis Jose Rivas-Solorzano, Silvio Fabian-Ordonez, Jose Medina, Jose Navarro, Deivy Santiago Pena-Rojas, Jefferson Jose Marquez-Marquez face carry a maximum sentence of 5 or 10 years, a fine of up to $250,000 million, and a supervised release term of up to 3 years. The charges in the indictment are merely accusations, and the defendants are presumed innocent unless and until proven guilty.

    This case is being investigated by the FBI Albany Field Office, with assistance from  United States Immigration and Customs Enforcement (ICE), United States Customs and Border Protection (CBP), United States Secret Service, the New York State Police, the Onondaga County Sherriff’s Office, the Chenango County Sherriff’s Office, the Broome County Sherriff’s Office, the Town of Cicero Police Department, the Syracuse Police Department, the Binghamton Police Department, the Norwich Police Department, the Dearborn, Michigan Police Department, and the Belle Fourche, South Dakota Police Department. Special Assistant United States Attorney Paul Tuck is prosecuting the case.

    MIL Security OSI –

  • MIL-OSI USA: Pallone Secures $750,000 for Monmouth University’s Coastal Protection Initiative

    Source: United States House of Representatives – Congressman Frank Pallone (6th District of New Jersey)

    Washington, D.C. – Congressman Frank Pallone (NJ-06) has secured $750,000 in federal funding for Monmouth University’s Urban Coast Institute. This groundbreaking initiative will bolster environmental protection efforts while addressing public concerns surrounding offshore wind development along the Jersey Shore.

    The project, led by Monmouth University’s Urban Coast Institute in partnership with Rutgers University and the NOAA James J. Howard Laboratory, will focus on cutting-edge environmental monitoring and sustainable energy development. One of its key objectives is to establish best practices for monitoring offshore wind sites to minimize conflicts with marine life and preserve critical habitats. This framework will be essential in advancing New Jersey’s leadership in offshore wind energy, while prioritizing ecological sustainability.

    “Securing this funding ensures that as New Jersey invests in offshore wind, we minimize conflicts with marine life and prioritize environmental protection,” said Pallone. “This project will leverage the expertise of Monmouth University, Rutgers, and NOAA to protect our coastal resources while reducing the state’s carbon footprint for the long term. Offshore wind is essential for New Jersey’s clean energy future, and this initiative will help ensure that we develop it responsibly.”

    Formally named Urban Ecosystem Approach to Human Impacts in the NY/NJ Bight, the initiative will focus on:

    • Non-invasive monitoring techniques: using cutting-edge technology such as environmental DNA (eDNA), acoustics, and optics to track marine life without disruption.
    • Habitat modeling and climate forecasting: enabling scientists to predict and mitigate the impacts of offshore wind development on sensitive coastal ecosystems.
    • Public involvement and transparent data sharing: ensuring that stakeholders have access to the information needed to understand the environmental impacts of offshore wind development. 

    With access to NOAA Howard Laboratory’s advanced facilities, including state-of-the-art seawater systems and chemical analysis tools, the research team will be well-equipped to conduct thorough environmental assessments. The project also will support the proposed Hudson Canyon Marine Sanctuary, which is undergoing the federal designation process and protects one of the most diverse and biologically rich areas in the NY/NJ Bight.

    Pallone emphasized the importance of offshore wind in combating climate change, but he noted that its development must go hand in hand with protecting coastal ecosystems. “This project not only strengthens our clean energy infrastructure but also ensures that we are responsible stewards of our environment, which is vital for both our economy and quality of life.”

    “Innovative and non-extractive ecosystem monitoring techniques such as eDNA and acoustic telemetry are essential tools for monitoring potential impacts of offshore wind over the large spatial and temporal scales involved,” said Professor Jason Adolf of Monmouth University. “President Leahy and I are thankful for Congressman Pallone’s support and excited for Monmouth University to utilize the funding to build on our strengths in these monitoring techniques, while ensuring the health of our coastal ocean as we undertake this exciting transition from fossil fuels to sustainable sources of energy like offshore wind.”

    The funding for this project was requested by Pallone in the Fiscal Year 2025 annual spending bill. Each year, members of the U.S. House may request 15 community funding projects in their district to direct federal resources toward the biggest needs in their communities.

    MIL OSI USA News –

  • MIL-OSI Africa: CORRECTION: Afentra Targets Mature Assets, Local Partnerships in Angola

    Source: Africa Press Organisation – English (2) – Report:

    LUANDA, Angola, October 8, 2024/APO Group/ —

    Independent energy firm Afentra expressed interest in partnering with local oil and gas firms to acquire mature assets in Angola during a panel at the Angola Oil & Gas 2024 conference on October 3.  

    Sponsored by multinational commodities company Trafigura, the panel – Strategic Partnerships: Financing Upstream Oil Operations – discussed the evolution of Angola’s upstream sector amid efforts to revitalize production from mature fields. Moderated by Elmano Costa, Senior Lawyer at Morais Leitão Legal Circle, the session explored the growing role of independent players in driving project developments and maximizing oil production.  

    Earlier this year, Afentra completed the acquisition of 12% and 16% non-operating interests in offshore Blocks 3/05 and 3/05A, respectively, from Azule Energy. The company worked closely with Trafigura to mobilize $100 million toward the acquisition, along with leveraging existing debt facilities and cash flow from its balance sheet 

    “We see great opportunities to acquire mature assets in Angola, reduce emissions from those assets and further develop them,” said Paul McDade, CEO of Afentra, adding, “We anticipate more large companies divesting in the future, with independents stepping in to acquire mature fields. We aim to continue working alongside Angolan companies, combining efforts to secure additional assets. The challenge lies in convincing investors to finance these projects.” 

    “Having the big players sell to independents is the future. It doesn’t make sense for TotalEnergies or Chevron to hold onto mature fields with declining production, so it’s a natural cycle to sell them to independent players, and Trafigura provides them with financial protection,” added Matthieu Milandri, Head of Upstream Finance at Trafigura, who worked closely with Afentra on the acquisition.  

    Taiwo Okwor, Vice President of Investment at the Africa Finance Corporation (AFC), emphasized the role sustainability and emissions reduction in securing funding for Angolan projects, as well as the importance of integrated oil and gas projects with strong infrastructure components.  

    “We select projects in Angola based on their commitment to reducing emissions and reinjecting associated gas. We provide capital, but closely monitor emissions and explore sustainable financing options,” said Okwor, adding, “Connecting infrastructure makes a project more bankable and attractive to financiers.” 

    Trafigura is involved in the funding of several large-scale projects in Angola including the Lobito Railway Corridor, which links Zambia and the Democratic Republic of Congo to the Port of Lobito to enable the export of copper, cobalt and other critical minerals.  

    “Building large-scale infrastructure projects is a lengthy and expensive undertaking for a country. Our role, alongside other partners like banks, is to provide expertise and security to make these projects viable,” said Milandri.  

    “The goal of these infrastructure projects is to boost regional trade and connect Angola to southern Africa. Ultimately, we want to close the infrastructure deficit and bridge the economic gap in the region,” concluded Okwor.  

    MIL OSI Africa –