PROVO, UT, April 28, 2025 (GLOBE NEWSWIRE) — Champion Safe Company, a leading manufacturer of premium safes and wholly-owned subsidiary of American Rebel Holdings, Inc. (NASDAQ: AREB), America’s Patriotic Brand (americanrebel.com), is proud to announce a strong and successful presence at the 154th NRA Annual Meetings & Exhibits held this past weekend in Atlanta, Georgia. Champion’s booth saw steady traffic and enthusiastic interest from NRA members passionate about protecting their firearms, their families, and their Second Amendment rights.
“Our team was energized by the incredible passion and patriotism of the NRA members we met in Atlanta,” said Tom Mihalek, CEO of Champion Safe Company. “It’s clear that Champion’s commitment to building safes with American-made steel and uncompromising strength really resonates with people who care deeply about freedom and security.”
Throughout the event, attendees explored Champion’s full lineup of gun safes and vault doors, drawn to the company’s reputation for superior strength, fire protection, and craftsmanship. Many took advantage of show specials, and the strong interest in Champion products led to a significant boost to the brand during the weekend.
“The NRA Annual Meeting is a reminder of why we do what we do,” Mihalek added. “Champion safes are built to protect the rights, values, and possessions that matter most to Americans.”
Champion Safe Company extends its thanks to the NRA, the City of Atlanta, The Atlanta Safe House and the thousands of attendees who made the 154th Annual Meeting a tremendous success.
For more information about Champion Safe, visit championsafe.com.
About Champion Safe Company
Champion Safe Company has been at the forefront of safe manufacturing for over 25 years, offering a range of high-quality safes designed for ultimate security and fire protection. With a commitment to craftsmanship and innovation, Champion Safes are trusted by homeowners, gun owners, and businesses across the nation.
About American Rebel Holdings, Inc.
American Rebel Holdings, Inc. (NASDAQ: AREB) has operated primarily as a designer, manufacturer and marketer of branded safes and personal security and self-defense products and has recently transitioned into the beverage industry through the introduction of American Rebel Beer. The Company also designs and produces branded apparel and accessories. To learn more, visit americanrebel.com and americanrebelbeer.com. For investor information, visit americanrebel.com/investor-relations.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. American Rebel Holdings, Inc., (NASDAQ: AREB; AREBW) (the “Company,” “American Rebel,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include benefits of the meeting, actual effect of the meeting on sales, margin and profit growth, our ability to effectively execute our business plan, and the Risk Factors contained within AREB’s filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2023 and Form 10-Q for the nine months ended September 30, 2024. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.
Italian Prime Minister Giorgia Meloni recently became the first European leader to visit the United States after President Donald Trump announced a new tariff regime on trading partners, including a 20% levy on imports from the European Union.
While those tariffs are currently on hold, the ongoing threat of them being enacted provided a telling backdrop for Meloni’s mid-April 2025 visit.
In many ways, Meloni reflects Europe’s own identity crisis: a regional power with global ambition. Italy, after all, was a founding pillar of the European Union, hosting the signing of the Treaties of Rome in 1957 establishing the European common market. Yet, for decades, Italy has often stood just outside the core of EU influence, overshadowed by the Franco-German partnership.
Still, when the moment is right, Italy knows how to wield its leverage, especially as a bridge between clashing camps in Brussels.
In Washington, Meloni made her pitch to Trump: a tighter ideological alliance over shared disdain for “woke” politics, diversity, equity and inclusion agendas, and lax immigration. She offered a sweetener – more Italian investment in the U.S. as a sop to the transatlantic trade dispute. But she also reiterated her and the EU’s support for Ukraine, a direct contrast to Trump’s skepticism to continued U.S. support in Ukraine’s conflict with Russia.
In so doing, Meloni has cast herself as someone who can serve both Brussels and Washington without burning bridges on either side. The gamble? That balancing act could backfire. Trump’s demands over trade and increased defense spending by NATO countries force Meloni to choose between appeasing Washington or staying in line with EU norms. Her overtures to Trump risk alienating key European allies who are wary of his disruptive politics.
In trying to play both sides, she could end up isolated from both – undermining Italy’s credibility and influence on the world stage.
Italy was regularly governed by a series of often fraught center-right coalitions that were forced to navigate fractious politics and quid pro quo political violence between the far right and far left. The center-right Christian Democrats that dominated this period married conservatism at home with a strong pro-European outlook.
In the first decades after the Cold War ended, Italy continued to carve out its own lane – pushing for leniency on issues like immigration and fiscal rules. The period saw Italy oscillate between pro-European integration and bouts of euroscepticism, with successive governments frequently challenging Brussels over budgetary constraints or border management.
Meloni’s own rise is deeply rooted in the post-2015 tensions, when Italy – overwhelmed by the Mediterranean migrant crisis – felt abandoned by its European partners. Her party’s hard-line stance on immigration capitalized on public frustration. While she now presents herself as firmly pro-EU, it’s a version of Europe that aligns with her own vision: more secure borders, stronger national sovereignty and less technocratic interference.
Ironically, as the bloc itself drifts rightward on migration, Meloni’s positions no longer seem so fringe – perhaps allowing her to embrace the EU pragmatically, even as she critiques it ideologically. Meloni’s own background and rise reflect this ambiguity and duality. Emerging from a political movement with fascist roots, she now presents herself as a passionate Europeanist and pacifist while maintaining right-wing positions on immigration and cultural issues.
Meloni has governed in that fashion: cultivating ties with conservative heavyweights like Trump and right-wing European leaders, pushing back against Brussels on contentious policy issues, but also remaining firmly committed to the European project when it suits her. Especially when the economy is at stake.
Meloni as pragmatic European
Meloni’s strongly nationalist rhetoric and right-wing cultural views might appear at odds with the EU’s purpose, but her approach to the continent is highly pragmatic.
Meanwhile, Meloni’s support for Ukraine helps her stand apart from pro-Russia voices in her coalition and strengthens Italy’s standing with NATO and the EU. It’s another strategic move that boosts her credibility both at home and abroad. Far from being a fringe player, Italy under Meloni is central to the EU’s narrative of unity, solidarity and survival.
A spaghetti Western alliance?
While Meloni reconciles her nationalist views vis-a-vis the supranationalist EU, she has also prioritized selling her idea of Italy on a bilateral basis.
That has largely focused on a shrewd charm offensive in the U.S., particularly since the return of Trump, whose right-wing administration provides any easy fit for Meloni. She has attempted to play both Trump and Musk to Italy’s advantage, leveraging Rome’s geopolitical position to secure economic agreements and ease tensions wrought by Trump tariffs, which Meloni called “wrong.”
Trump has been quick to praise her stance against “anti-woke” politics, while Meloni promises to help resolve trade issues and boost U.S. gas imports, all while keeping Italy at the forefront of negotiations. With Musk, she has attempted to position Italy as a key partner in tech and energy, navigating the global game with both finesse and ambition.
Italy runs a substantial trade surplus with the U.S. and underspends on NATO defense – two things that typically trigger Trump’s criticism. Yet with Meloni, Trump has been full of admiration: “She’s taken Europe by storm,” he said in April, agreeing during their last meeting to meet again in Rome in the near future.
Italian Prime Minister Giorgia Meloni, left, has expressed solidarity with Ukrainian President Volodymyr Zelenskyy. Thierry Monasse/Getty Images
Meloni’s diplomatic ambitions extend beyond the U.S., including making moves in the Middle East, particularly with Saudi Arabia. By promoting Italy as a gateway to Europe, she is securing key investments in energy and infrastructure, while boosting Italian exports and increasing her diplomatic leverage. The fact that many in Europe, and indeed Italy, eye such overtures toward Saudi money with distaste, appears neither here nor there. After all, in Italy there has long been an attitude among leaders that “money does not smell” – or “pecunia non olet” as the locals say – a phrase that by legend was uttered by Emperor Vespasian while slapping a tax on public urinals.
Will all roads lead to Rome?
While Meloni’s approach of casting Italy as a bridge between the U.S. and Europe may yield some short-term diplomatic gains, it’s nonetheless a delicate path fraught with risk. Cozying up to Washington under Trump, whose policies – especially on trade – have engendered widespread outrage in Europe, risks ruffling feathers in Brussels. Indeed, while Trump praised Meloni’s leadership, and both sides talked trade with no urgency on tariffs, Europe watched warily.
Trying to navigate between Trump’s protectionist leanings and the EU’s collective trade stance could leave Meloni unable to satisfy either side. Should Trump push for concessions – like shrinking Italy’s trade surplus with the U.S. or increasing defense spending – Meloni may find herself at odds with EU standards and alienating European partners. But leaning too far into EU alignment – and the bloc’s commitment to Ukraine – risks souring her ties with Trump’s camp, potentially weakening her influence across the Atlantic.
In trying to please both Washington and Brussels, Meloni could end up with enemies on both fronts – and very few wins to show for it.
The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.
From concept to commercialisation: Defence Innovation Loans are open
Aimed at SMEs, DASA’s Defence Innovation Loans are designed to bridge the gap between product development and commercialisation.
The Defence and Security Accelerator (DASA) supported by Innovate UK Loans Ltd (Innovate UK) are working together to offer Defence Innovation Loans.
This service provides an opportunity for single small and medium-sized enterprises (SMEs) with solutions to Defence themed problems to apply for a Defence Innovation Loan of between £100,000 and £1 million with a below market interest rate of 7.4% per annum. This loan can be used to cover up to 100% of eligible project costs to aid the commercialisation of the solution.
Interested in a loan to boost your small business? Read the competition document here.
Background
Defence Innovation Loans were first introduced in June 2021 as a mechanism to help smaller organisations “build the business behind the innovation”. Since then, 8 companies have successfully secured a total of £6 million. Nearly all of these companies have gone on to secure further private investment worth a total of £16.9 million, creating 54 new jobs in defence innovation across the UK.
Success Stories
VRAI secured a Defence Innovation Loan to help commercialise their data capture and analysis technology. The technology, tested with the RAF, enabled trainers to assess and develop individualised training programmes for trainee pilots.
Niall Campion, Founder of VRAI said: “Without DASA funding it would have been impossible for us to bring this product into the UK defence supply chain. By providing working capital while we demonstrate the value of the product in the defence industry, the Defence Innovation Loan will help us grow our business and deliver measurable improvements to training across defence and other simulation markets.”
QUICKBLOCK, which develops lightweight, rapid assembly building blocks for force protection secured a Defence Innovation Loan, which amongst other things, has helped them to move their supplier base to Yorkshire, bolstering their supply chain and avoiding the recent shipping disruption in the Red Sea.
QUICKBLOCK CEO, Andrew Vincent said:
“We are incredibly grateful for the support from DASA. The project rapidly accelerated the development of our product for the Defence market and allowed us access to end-users that we would otherwise not have had.”
Silicon Microgravity are using their Defence Innovation Loan to further develop their underground detection technology ready for trials in 2024. They are also using the money to help commercialise their product for security, border control, defence and civil engineering markets.
Francis Neill, CEO of Silicon Microgravity said: “DASA have been absolutely fundamental in helping to get Silicon Microgravity to the stage where we will shortly be commercialising what is becoming recognised as world-leading technology in gravity sensing and inertial navigation.”
Eligibility
To take on a Defence Innovation Loan for a project you must:
intend to exploit the results in the UK or overseas to make a significant and positive impact on the UK economy and / or productivity
give evidence that your business is suitable to take on a loan.
Only SMEs are eligible to apply for Defence Innovation Loans; individuals, academic institutions, research organisations and large companies are not eligible. Only single businesses can receive innovation loans, so joint applications with other organisations cannot be funded in this competition (subcontractors are allowed, see further details below). For more information on company sizes, please refer to the company accounts guidance (this is a change from the EU definition unless you are applying under State Aid).
Innovations must be fairly mature at TRL 6 and above to ensure that the solution can be commercialised within the time scale of the innovation loan. Applications must clearly evidence a Defence need for the innovative solution.
Now! The DIL FY25/26 Cycle 1 opened on 18 March and won’t close until 13 May, when Cycle 2 will open. To find the full schedule of cycles and dates head to this link.
Queries
We have made every effort to provide as much information as possible to ensure you have a full understanding of the Defence Innovation Loans that we offer. Please do read through the comprehensive competition document for full details. If you still have questions don’t hesitate to get in touch with our helpful team. Please see Points of Contact.
During the Vietnam War, the U.S. bombed and defoliated vast areas of forest and protective mangroves.AP Photo
When the Vietnam War finally ended on April 30, 1975, it left behind a landscape scarred with environmental damage. Vast stretches of coastal mangroves, once housing rich stocks of fish and birds, lay in ruins. Forests that had boasted hundreds of species were reduced to dried-out fragments, overgrown with invasive grasses.
The term “ecocide” had been coined in the late 1960s to describe the U.S. military’s use of herbicides like Agent Orange and incendiary weapons like napalm to battle guerrilla forces that used jungles and marshes for cover.
As an environmental scientist and anthropologist who has worked in Vietnam since the 1990s, I find the neglect and slow recovery efforts deeply troubling. Although the war spurred new international treaties aimed at protecting the environment during wartime, these efforts failed to compel post-war restoration for Vietnam. Current conflicts in Ukraine and the Middle East show these laws and treaties still aren’t effective.
Agent Orange and daisy cutters
The U.S. first sent ground troops to Vietnam in March 1965 to support South Vietnam against revolutionary forces and North Vietnamese troops, but the war had been going on for years before then. To fight an elusive enemy operating clandestinely at night and from hideouts deep in swamps and jungles, the U.S. military turned to environmental modification technologies.
The most well-known of these was Operation Ranch Hand, which sprayed at least 19 million gallons (75 million liters) of herbicides over approximately 6.4 million acres (2.6 million hectares), of South Vietnam. The chemicals fell on forests, and also on rivers, rice paddies and villages, exposing civilians and troops. More than half of that spraying involved the dioxin-contaminated defoliant Agent Orange.
A U.S. Air Force C-123 flies low along a South Vietnamese highway spraying defoliants on dense jungle growth beside the road to eliminate ambush sites during the Vietnam War. AP Photo/Department of Defense
As news of the damage from these tactics made it back to the U.S., scientists raised concerns about the campaign’s environmental impacts to President Lyndon Johnson, calling for a review of whether the U.S. was intentionally using chemical weapons. American military leaders’ position was that herbicides did not constitute chemical weapons under the Geneva Protocol, which the U.S. had yet to ratify.
Scientific organizations also initiated studies within Vietnam during the war, finding widespread destruction of mangroves, economic losses of rubber and timber plantations, and harm to lakes and waterways.
A photo at the War Remnants Museum in Ho Chi Minh City, historically known as Saigon, shows the damage at Cần Giờ mangrove forest. The mangrove forest was destroyed by herbicides, bombs and plows. Gary Todd/Flickr
Fires from napalm and other incendiary weapons cleared stretches of forest, in some cases scorching the soil so badly that nothing would regrow. AP Photo
“Rome Plows,” massive bulldozers with an armor-fortified cutting blade, could clear 1,000 acres a day. Enormous concussive bombs, known as “daisy cutters”, flattened forests and set off shock waves killing everything within a 3,000-foot (900-meter) radius, down to earthworms in the soil.
The U.S. also engaged in weather modification through Project Popeye, a secret program from 1967 to 1972 that seeded clouds with silver iodide to prolong the monsoon season in an attempt to cut the flow of fighters and supplies coming down the Ho Chi Minh Trail from North Vietnam. Congress eventually passed a bipartisan resolution in 1973 urging an international treaty to prohibit the use of weather modification as a weapon of war. That treaty came into effect in 1978.
Despite Congress’ concerns, there was little scrutiny of the environmental impacts of U.S. military operations and technologies. Research sites were hard to access, and there was no regular environmental monitoring.
Recovery efforts have been slow
After the fall of Saigon to North Vietnamese troops on April 30, 1975, the U.S. imposed a trade and economic embargo on all of Vietnam, leaving the country both war-damaged and cash-strapped.
Vietnamese scientists told me they cobbled together small-scale studies. One found a dramatic drop in bird and mammal diversity in forests. In the A Lưới valley of central Vietnam, 80% of forests subjected to herbicides had not recovered by the early 1980s. Biologists found only 24 bird and five mammal species in those areas, far below normal in unsprayed forests.
Only a handful of ecosystem restoration projects were attempted, hampered by shoestring budgets. The most notable began in 1978, when foresters began hand-replanting mangroves at the mouth of the Saigon River in Cần Giờ forest, an area that had been completely denuded.
Mangroves have been replanted in the Cần Giờ Biosphere Reserve near Ho Chi Minh City, but their restoration took decades. Tho Nau/Flickr, CC BY
In inland areas, widespread tree-planting programs in the late 1980s and 1990s finally took root, but they focused on planting exotic trees like acacia, which did not restore the original diversity of the natural forests.
That project, completed in 2018, treated 150,000 cubic meters of dioxin-laden soil at an eventual cost of over $115 million, paid mostly by the U.S. Agency for International Development, or USAID. The cleanup required lakes to be drained and contaminated soil, which had seeped more than 9 feet (3 meters) deeper than expected, to be piled and heated to break down the dioxin molecules.
Large amounts of Agent Orange had been stored at the Da Nang airport during the war and contaminated the soil with dioxin. The cleanup project, including heating contaminated soil to high temperatures, was completed in 2018. Richard Nyberg/USAID
Another major hot spot is the heavily contaminated Biên Hoà airbase, where local residents continue to ingest high levels of dioxin through fish, chicken and ducks.
Agent Orange barrels were stored at the base, which leaked large amounts of the toxin into soil and water, where it continues to accumulate in animal tissue as it moves up the food chain. Remediation began in 2019; however, further work is at risk with the Trump administration’s near elimination of USAID, leaving it unclear if there will be any American experts in Vietnam in charge of administering this complex project.
Laws to prevent future ‘ecocide’ are complicated
While Agent Orange’s health effects have understandably drawn scrutiny, its long-term ecological consequences have not been well studied.
Current-day scientists have far more options than those 50 years ago, including satellite imagery, which is being used in Ukraine to identify fires, flooding and pollution. However, these tools cannot replace on-the-ground monitoring, which often is restricted or dangerous during wartime.
The legal situation is similarly complex.
In 1977, the Geneva Conventions governing conduct during wartime were revised to prohibit “widespread, long term, and severe damage to the natural environment.” A 1980 protocol restricted incendiary weapons. Yet oil fires set by Iraq during the Gulf War in 1991, and recent environmental damage in the Gaza Strip, Ukraine and Syria indicate the limits of relying on treaties when there are no strong mechanisms to ensure compliance.
Remediation work to remove dioxin contamination was just getting started at the former Biên Hoà Air Base in Vietnam when USAID’s staff was dismantled in 2025. USAID Vietnam, CC BY-NC
Some countries have adopted their own ecocide laws. Vietnam was the first to legally state in its penal code that “Ecocide, destroying the natural environment, whether committed in time of peace or war, constitutes a crime against humanity.” Yet the law has resulted in no prosecutions, despite several large pollution cases.
Both Russia and Ukraine also have ecocide laws, but these have not prevented harm or held anyone accountable for damage during the ongoing conflict.
Lessons for the future
The Vietnam War is a reminder that failure to address ecological consequences, both during war and after, will have long-term effects. What remains in short supply is the political will to ensure that these impacts are neither ignored nor repeated.
Pamela McElwee receives funding from the Carnegie Corporation, National Science Foundation, and National Endowment for the Humanities.
The Catholic Church’s 115 cardinal-electors take part in a mass in St. Peter’s Basilica on March 12, 2013, ahead of entering the conclave for a papal election.Michael Kappeler/picture alliance via Getty Images
Following the death of 88-year-old Pope Francis on Easter Monday, several cardinals who were already in Rome, or who traveled only short distances to arrive, held the first of several meetings – general congregations – to discuss preparations for the papal funeral and the election to follow.
The College of Cardinals – which will elect the next pope – has 252 members, but only 135 can vote. Only those younger than 80 as of the day of a pope’s death may cast a ballot. Theoretically, church law allows the College of Cardinals to elect any Catholic man in the world to become the next pope – but in reality, as has been the case for more than 600 years, one of those cardinal-electors will almost certainly be Francis’ successor.
During the early centuries of Christianity, three classes of ordained minsters came about to lead and serve Christian communities: bishops, priests and deacons.
Bishops supervised local church communities and presided at liturgical ceremonies in the main churches – cathedrals. Priests advised the bishops and led individual communities – parishes. Deacons tended to the needs of the poor, widows and orphans and took care of community finances. They also had a special role during some worship services and often acted as the bishop’s secretaries.
Over time, seven of these deacons in key Roman churches served as special advisers to the bishop of Rome, the pope. They came to be called cardinals, from Latin “cardo” – meaning hinge – and “cardinalis” meaning key or principal. Later popes would choose priests and bishops to be cardinals as well.
Electing the pope
In the earlier centuries, popes would be elected by the clergy and people of the city of Rome. As time went on, these elections could be manipulated by local civic leaders, wealthy families and political leaders outside of Rome and Italy.
It was not until the 11th century that Pope Nicholas II formulated a process for selecting a new pope: election by an assembly of cardinals. However, it was not always possible for all the cardinals – known as the College of Cardinals – to come together, due to age, illness or distance. Those who had to travel long distances might arrive too late to vote.
In order to avoid continued outside interference, Pope Gregory X in the 13th century adopted a new procedure: the conclave. Cardinals would remain in a locked location – from the Latin cum clave, “with a key” – in isolation from outside influences until the election concluded.
The rules governing the conclave changed slightly over the years. The leader of the College of Cardinals is called the dean of the college. Over the centuries, his duties have come to include organizing the conclave, assisted by other Vatican officials. The size of the college has also varied over time but has steadily increased despite efforts to limit its size.
Starting in the 19th century, popes began expanding the size and geography of the college. Once dominated by European and especially Italian cardinals, popes began to choose new cardinals from different areas of the globe. For example, the first cardinals born in North America were named: John McClosky, archbishop of New York, was named cardinal in 1875; James Gibbons, archbishop of Baltimore in 1886, and Elzéar-Alexandre Taschereau, archbishop of Quebec, also in 1886.
The College of Cardinals receives final instructions from the Grand Marshal before adjourning to the Sistine Chapel to begin voting for a new pope in 1922. Bettmann via Getty Images
The expansion of the college gathered momentum in the mid-20th century. The first native-born bishops from Asia were named at this time – for example, from China in 1946, Japan and the Philippines in 1960, and Sri Lanka in 1965. The first native-born cardinals of both Mexico and Uruguay were named in 1958, and the first native-born African of modern times, from Tanzania, was named in 1960. Popes continued this trend through the later 20th and early 21st centuries.
Different visions
By the time of his death, Francis had named a large number of new, non-European cardinals, especially from the Global South, where Catholicism is expanding. Currently, out of a total of 252 cardinals, 138 are non-European. Importantly, out of a total 135 cardinals eligible to vote, 82 are not from Europe, which makes a record number of non-Europeans eligible to vote.
In addition, at this conclave, 80% of the cardinal-electors have been named by Francis: that is 108 cardinals out of 135. This is an overwhelming number, representing a wide variety of Catholic communities from several different cultures. A new pope must be elected with a two-thirds majority of the votes: a total of 90 votes. If no candidate receives 90 votes, balloting continues as scheduled.
As I see it, there are several issues likely to arise and influence the vote for the upcoming election. Some of the cardinal-electors may want to choose a cardinal with more progressive views. But other cardinals, even if chosen by Francis, still might prefer to choose a more conservative candidate, to moderate what they see as the progressive agenda of the past 12 years. Their appointment by Francis doesn’t mean that they automatically agree with all of his ideas.
Catholics around the world will be praying for the Holy Spirit to guide the hearts and minds of the cardinals as they fill out their ballots. Many will hope for a pope as inspiring as his predecessor, one who can face the challenging problems of an increasingly complex world.
Joanne M. Pierce 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.
Introductory remarks by Luis de Guindos, Vice-President of the ECB, at the ECON Committee of the European Parliament
Brussels, 28 April 2025
It is a pleasure to present the ECB’s Annual Report for 2024 to this esteemed Committee. Concurrently, we are also publishing our response to the European Parliament’s resolution on our previous Annual Report. These elements – our Annual Report, today’s discussion and our response to your resolution – are central to the ECB’s accountability to the European Parliament and highlight the open dialogue between our institutions.
In my remarks today, I will discuss the economic and financial stability landscape and consider the challenges that lie ahead. I will share the ECB’s assessment and underline the need to invest in measures to enhance Europe’s resilience amid a volatile external environment and an uncertain outlook.
Economic developments and monetary policy
As highlighted in the Annual Report, economic activity in the euro area began to recover gradually in 2024. Incoming data suggest modest growth in the first quarter of 2025. However, risks have intensified amid exceptional uncertainty, largely related to trade. Euro area exporters are now facing new barriers, and tensions in financial markets and geopolitical uncertainty will likely weigh on business investment. In this environment, consumers may become cautious about the future and hold back spending.
In the medium term, a resilient labour market, higher real incomes and the impact of our monetary policy easing should support spending. Moreover, recent policy initiatives focused on defence spending and infrastructure investment at both national and EU levels are expected to positively affect activity and strengthen long-term growth.
Turning to inflation, headline figures fell further towards the ECB’s 2% target in 2024, supported by our then restrictive monetary policy. Looking ahead, inflation is expected to hover around our target. However, global trade disruptions are adding uncertainty to the inflation outlook. Declining energy prices, further wage moderation and a stronger euro could dampen inflation, potentially amplified by weaker demand for euro area exports and a re-routing of other countries’ exports into the euro area. Conversely, a fragmentation of global supply chains could raise import prices and hence inflation.
Following a period of holding interest rates steady in early 2024, the ECB started reducing its key interest rates in June. So far, we have lowered the rate on the deposit facility by 175 basis points to 2.25%, in view of the disinflation process being well on track. We are determined to ensure that inflation stabilises sustainably at our 2% medium-term target. Especially given current uncertainty, we will continue to follow a data-dependent and meeting-by-meeting approach to setting the appropriate monetary policy stance, and we are not pre-committing to a particular rate path.
Maintaining financial stability
Let me also say a few words on financial stability in the light of recent developments.
The recent trade policy upheaval has triggered the most significant financial market turmoil since the pandemic. While euro area banks’ valuations have also been affected, their fundamentals remain robust and they are well positioned to withstand potential shocks thanks to their sizeable capital and liquidity buffers.
But despite the resilience of our financial sector, these developments warrant careful monitoring. Sharp adjustments in financial markets could become disorderly, particularly if they are amplified by the growing size and influence of non-bank financial institutions. In addition, trade conflicts could pose challenges for both households and corporates, translating into rising credit risk for banks and non-banks alike. Finally, a combination of weaker growth and heightened spending needs could increase pressures on government finances.
To ensure our banking system remains resilient in this environment, we need a regulatory framework that is fit for purpose. Decisive action is required to move us closer to completing the banking union. This includes an effective crisis management and deposit insurance framework that extends to small and medium-sized banks, and progress on a European deposit insurance scheme. The recent financial market turmoil also highlights that non-banks must be subject to robust rules, and that gaps in the regulatory framework need to be closed so they are not treated differently to regular banks.
The ECB supports efforts to simplify the regulatory framework. However, this should not be confused with deregulation. The resilience of our financial system can largely be attributed to the rules established since the global financial crisis. Financial stability is a global public good – it is in everybody’s interest and must remain the long-term goal.
Europe’s future policy priorities
A strong and resilient financial sector will also play a crucial role – alongside the public sector – in financing Europe’s key policy priorities as we confront a series of generational challenges.
The defence investments foreseen in the EU will have an impact on national public finances. By spending jointly through EU-level initiatives, we can achieve greater scale, reduce costs and strengthen our strategic autonomy – all while supporting long-term growth and fiscal sustainability.
In addition to the pressing security challenges, investing in the green transition and digital innovation remains vital to boosting Europe’s competitiveness and closing the productivity gap with our global peers.
Finally, the evolving global landscape underscores the need to strengthen trade within the EU’s Single Market, as emphasised by the European Commission.[1] A more integrated and deeper Single Market is essential if we are to achieve the scale required for European firms to thrive and expand, thereby enhancing our resilience against external shocks. We also need to ensure that innovative firms can access the financing they need in order to grow. In this context, completing the savings and investment union is both urgent and essential.
Conclusion
Faced with a complex and uncertain landscape, the ECB remains firmly committed to its primary mandate of maintaining price stability. This is the most important contribution we can make towards fostering a strong and prosperous Europe.
I know that both our institutions are united by our commitment to serve the people of Europe, within our respective mandates. Our dialogue today is testament to this.
Work on a new housing development is in full swing as Leeds City Council once again demonstrates its commitment to providing high quality, energy efficient and affordable homes for local families.
The council secured planning permission in October last year for a total of 82 houses and apartments on the site of a former school at Hough Top, in Swinnow, near Pudsey.
And, six months on, construction activity is proceeding at pace, with a new road layout already taking shape and good progress being made on car parking, substations and perimeter fencing.
The development – which is being delivered via Leeds’s Council Housing Growth Programme (CHGP) – will comprise 55 houses and 27 apartments, with a mix of one, two, three and four bedrooms.
The apartments will be located in a new three-storey building named Hough Top Court. The site’s roads, meanwhile, will be called Hough Common, Hough Fold and Hough Drive.
All 82 properties will be made available for affordable rent, an important consideration given the high level of demand for social housing in the wider Pudsey area.
The new homes will also be fitted with air source heat pumps, a sustainable heating solution that will help cut carbon emissions, tackle fuel poverty and support Leeds’s net zero ambitions.
Landscaping and tree-planting work will create attractive open space within the 2.5-hectare site, which has lain empty since the demolition of the former Hough Side High School buildings in 2021 and 2022.
The development is being delivered for the council by construction company Willmott Dixon, which is also conducting a wide-ranging programme of associated community-focused activity. To date, its team has run more than 30 apprentice training weeks, undertaken 50 hours of school engagement and carried out 80 hours of career mentoring for local people.
The bulk of the funding for the scheme – scheduled for completion late next year – is being provided by the council’s housing service via Right to Buy receipts and borrowing, with £1.64m of grant support coming from the West Yorkshire Combined Authority’s Brownfield Housing Fund.
Councillor Jess Lennox, Leeds City Council’s executive member for housing, said:
“The Hough Top scheme is an excellent example of how the council is working, with partners, to deliver good quality, energy efficient and affordable homes for the people of Leeds.
“The difference that a development like this can make to local families is huge, particularly in an area such as Pudsey where there are significant housing needs.
“Our aim is to ensure that communities right across Leeds can benefit in the same way and, while we know there is still much to do, the various schemes currently taking shape as part of our Council Housing Growth Programme are moving us ever closer to realising that ambition.”
Tracy Brabin, Mayor of West Yorkshire, said:
“Because of devolution, we’ve been able to invest almost £90m to help unlock over 5,000 new homes, including dozens of affordable and sustainable homes in Pudsey.
“Working with Leeds City Council, we’re taking decisive action to tackle the housing crisis and deliver the warm, high-quality homes that local families need, with lower rents and energy bills.
“Everyone is entitled to a safe and secure roof over their head, so we will work with central government to get the whole of West Yorkshire building, with new freedoms and funding to deliver thousands more homes and create a greener, more vibrant region.”
Chris Yates, Yorkshire director at Willmott Dixon, said:
“Our team of local housing experts bring a wealth of experience to Hough Top. We share Leeds City Council’s passion for creating employment opportunities for this community. In partnership with our local supply chain partners, we are committed to supporting local people through our dedicated Building Lives Academy skills programme, as well as continuing to work closely with local schools and colleges.”
More than 350 new homes have been built via the council’s CHGP since 2018. More than 420 homes have also been acquired as part of the programme, with these properties and the new-builds both playing a crucial role in efforts to ease local affordable housing pressures.
By increasing the number of appropriate properties available to tenants looking to downsize, the programme has also helped free up some homes that are best suited to larger families.
Locations where new housing has recently been delivered by the CHGP include Barncroft Close in Seacroft and Scott Hall Drive in Chapel Allerton as well as a site in Middleton formerly occupied by Throstle Recreation Ground and Middleton Skills Centre.
Places where CHGP schemes are, like the one at Hough Top, currently under construction include Brooklands Avenue in Seacroft, the Ambertons area of Gipton and the former Middlecross Day Centre site in Armley.
School Governing Boards are made up of people from all walks of life with a range of different backgrounds, skills and experiences – but they are all volunteers who work together for the benefit of the school and act as the link between the school and the community it serves.
Councillor Jacqui Coogan, Cabinet Member for Children, Young People and Education, said: “We are currently looking for new governors to work in schools across Wolverhampton and we’d be delighted to hear from anyone who has an interest in school performance, a desire to contribute to and represent the community, and an open and enquiring mind.
“Key skills are the ability to look at issues objectively, the confidence to ask questions and join in debate, a willingness to listen and make informed judgements and the ability to work well with others.
“If this is you, you may be the very person to become a governor. Everyone has something to offer, and we want to hear from people from as many backgrounds and with as wide a range of interests as possible.
“Becoming a governor is an enjoyable and rewarding way to play an active part in the local community – and can allow you to further develop your strategic management skills and enhance your CV, too.”
People would need to be able to volunteer for around eight hours a term, with some meetings potentially outside of school hours. The council will provide all the necessary training and support to carry out this important role.
Governing bodies play a key role in setting targets for raising standards of educational achievement, monitoring progress towards meeting these targets, supporting and challenging the performance of the headteacher and deciding policy and future development plans.
To request an application pack, or to find out more about the role, please contact Kay Mason, School Improvement Advisor, via kay.mason@wolverhampton.gov.uk.
The focus of the annual World Health Organisation campaign this year is ‘immunisations for all is humanly possible’ – with the aim of ensuring even more children and young people, adults and the wider community are protected from preventable diseases.
Councillor Jasbir Jaspal, the City of Wolverhampton Council’s Cabinet Member for Adults and Wellbeing, said: “Vaccination is one of the greatest public health interventions, both saving lives and promoting good health.
“Immunisation protects not only the individual but also the population from preventable diseases which can cause serious illness as well as death.
“Vaccines cannot give the disease they are designed to prevent and, if not enough people are vaccinated, diseases that have become uncommon like whooping cough, polio and measles can quickly re-emerge.
“It’s important that vaccines are given when they are due for the best protection, but if you or your child has missed a vaccine, contact your GP to catch up.”
The UK’s national immunisation programme starts from 2 months into old age and provides protection against a range of vaccine preventable infections including diphtheria, haemophilus influenzae type b, hepatitis B, HPV, flu, measles, meningococcal disease, mumps, whooping cough, pneumococcal disease, polio, rotavirus, RSV, rubella, shingles and tetanus.
Other vaccines are available for those with complex health needs or those who are more at risk. More information on the vaccination schedule can be found at NHS | Vaccinations, which also includes facts and dispels myths about vaccination.
If your child has missed their diphtheria, tetanus and polio teenage booster vaccination, the HPV (human papilloma virus) vaccination or the meningococcal (Men ACWY) vaccination in school or if your child is home educated and has not received these vaccinations when they are due, Vaccination UK will be holding a catch up clinic on Bank Holiday Monday 26 May from 10am to 2pm at Bizspace, Planetary Road WV13 3SW. To make an appointment, please call 01902 200077.
Organised by the World Health Organisation, World Immunisation Week aims to highlight the collective action needed to protect people from vaccine preventable diseases. It aims to catch up the millions of children globally who missed out on vaccines during the Covid-19 pandemic and restore essential immunisation coverage to at least 2019 levels so that more children, adults and communities are protected from vaccine preventable diseases, allowing them to live happier, healthier lives.
World Immunisation Week continues until Wednesday (30 April). For more information, please visit World Immunization Week 2025.
Source: Traditional Unionist Voice – Northern Ireland
Statement by TUV East Antrim representative, Councillor Matthew Warwick:
“It is revealing that Danny Donnelly, an elected representative of the Alliance Party, attacks Unionists for criticising Kneecap — a rap group whose very name glorifies the brutal practice of IRA kneecappings, leaving countless innocent victims scarred for life.
“While Alliance routinely condemns Loyalism for the slightest real or perceived offence, Mr Donnelly leaps to the defence of a group that:
• openly calls for the ethnic cleansing of ‘Brits’ from Northern Ireland;
• weaponises the Irish language, featuring the notorious slogan ‘Every word spoken in Irish is a bullet in the freedom struggle’ in promotional material;
• supports terrorist groups in the Middle East, including Hamas; and
• advocates the murder of Tory MPs.
“If any group associated with Loyalism featured a character in a balaclava named DJ UDA, Mr Donnelly and his party would waste no time in public denunciation. Yet he now seeks to shield a group whose stage names mock the suffering inflicted by IRA terrorists.
“It is important to make clear that Mr Donnelly’s views do not represent the majority of East Antrim. Accordingly, today I have written to the U.S. Department of State to request that Kneecap be denied visas to spread their toxic ideology to America.”
Mr Warrick’s letter is as follows:
Visa Office
U.S. Department of State
Washington, D.C. 20520
United States of America
Re: Objection to Visa Applications by Kneecap
Dear Sir/Madam,
I write on behalf of Traditional Unionist Voice (TUV) to urge the United States Department of State to deny visas to the rap group Kneecap, who are seeking entry into the United States for a concert tour later this year.
Kneecap are not merely entertainers; they are open advocates of violence, division, and terror. Their lyrics and public appearances glorify the blood-soaked legacy of the Provisional IRA, a terrorist organisation responsible for nearly 1,800 murders. Their very name references the IRA’s gruesome practice of “kneecapping” — a method of torture used to permanently maim their victims.
Kneecap has publicly called for violence against sitting Members of Parliament, promoting the killing of elected officials — a grave incitement that goes far beyond artistic expression and constitutes a direct attack on democracy.
The group also uses their platform to champion extremist causes abroad. At their recent performance at the Coachella music festival, they projected inflammatory anti-Israel slogans, accusing Israel of genocide and condemning the U.S. government as complicit in alleged war crimes.
Furthermore, they have publicly aligned themselves with organisations such as Hamas, whose brutal acts of terrorism have targeted Jewish civilians.
In today’s climate, where antisemitism is a rising threat particularly in academic settings where President Trump’s administration has taken welcome steps to address the issues, it would be deeply irresponsible to allow entry to individuals who promote such hatred and violence.
U.S. law rightly provides for the denial of visas to those who advocate terrorism, incite political violence, or pose a risk to public order and social cohesion. By their words and actions, Kneecap clearly fall into this category.
Granting Kneecap visas would not promote cultural exchange. It would instead export to American cities a toxic ideology rooted in glorifying terrorism and stoking division.
I therefore respectfully urge the Department of State to reject any current or future visa applications from members of Kneecap.
The MAIB has undertaken a preliminary assessment into the death of a crew member from Border Force cutter Vigilant in November 2024. Following the results of the preliminary assessment and after a full coronial investigation, including a detailed postmortem and a determination by HM Coroner of death by natural causes, the Chief Inspector of Marine Accidents is satisfied that the crew member’s death resulted from a medical event and not a marine accident. The preliminary assessment has therefore been closed, and the MAIB will not investigate further.
Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –
The 9th International Arctic Summit “Arctic: Prospects, Innovations and Regional Development”, dedicated to the 180th anniversary of the founding of the Russian Geographical Society, was held in two cities – Moscow and St. Petersburg. In the Northern capital, the participants of the large-scale event were hosted by the Peter the Great St. Petersburg Polytechnic University.
At the opening of the summit in the Technopolis Polytech research building, guests were greeted on behalf of the Governor of St. Petersburg, Alexander Beglov, by the Head of the Department for Development of Interaction with the Arctic Region of the St. Petersburg Committee for Arctic Affairs, Sergei Nikolaev.
The regional head’s address states that St. Petersburg is the center of Russia’s Arctic competencies, and the exchange of regions’ accumulated experience and the discussion of pressing issues of the development of the Far North are the key to strengthening our country’s position in the Arctic.
As Yuri Fomin, Vice-Rector for Research at SPbPU, noted in his greeting, Peter the Great St. Petersburg Polytechnic University not only trains personnel for enterprises in the northern region, but also conducts research in areas that are relevant for the Arctic: development of autonomous energy, construction in the Far North, infrastructure, logistics, security, etc.
The developments of our scientists are aimed at solving the problems outlined by the President of Russia at the VI International Arctic Forum. This is strengthening the transport and logistics contour of the Arctic, ensuring the energy independence of the region, mining, construction in difficult weather conditions, – said Yuri Vladimirovich and wished the forum participants successful and fruitful work.
Participants of the plenary session and thematic sections discussed many problematic issues related to the geopolitical, environmental and economic situation, harsh climate conditions and the shortage of highly professional personnel for the Arctic zone. At the Polytechnic site, they sought and proposed solutions, shared experiences and found partners.
Experts, including representatives of SPbPU, outlined the goals, main directions and mechanisms for implementing the tasks set, and also noted the importance of the activities of the Russian Geographical Society in the development of the Arctic.
Nikolay Vatin, Director of the Scientific and Technological Complex “Digital Engineering in Civil Construction”, spoke at the plenary session. He also held a thematic session “Development of Science and Technology in the Interests of Arctic Development. Information Partnership of Arctic Regions”.
At the special session “Scientific and technical projects and modern technologies for the development of the Arctic zone: Russian industry, world practice” Liliya Talipova, senior lecturer of the Higher School of Industrial, Civil and Road Construction of SPbPU, gave a report. She spoke about the development of a GIS platform for the design of linear objects in the Arctic.
The round table, dedicated to improving the quality of life of the population of the Arctic, was attended by IPMEiT teachers Maxim Polyukhovich, Alexey Ulyanov and Yulia Logvinova. The topic of their presentations was a model for designing workplaces for the region. In the round table session dedicated to Arctic energy, SPbPU professor Viktor Elistratov made a report on the use of renewable energy sources in the Arctic zone of the Russian Federation.
Students of the Polytechnic University also took part in the summit. Thus, at the thematic session “International Relations in the Arctic”, Zoya Merkulova, a master of the Higher School of Technosphere Safety of SPbPU, presented a report “Comparison of Russian and Foreign Experience in Industrial Safety Applied to Enterprises in Arctic Regions”.
Summing up the forum, the director of the Arctic 2025 summit Gennady Cherepov thanked the participants and noted the productivity of all sections. In conclusion, the winners of the competition of scientific research works aimed at sustainable development and exploration of the Arctic within the framework of the Decade of Science and Technology were awarded. Based on the materials of the summit, a scientific collection of the Russian Science Citation Index will be prepared and published.
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.
A major seizure of counterfeit t-shirts and uniforms bound for a high-profile football event was carried out in Spain on Friday, 25 April, thanks to crucial intelligence provided by OLAF. The operation is part of a wider effort led by OLAF, in close cooperation with the Spanish National Police and EU customs authorities, to combat a surge in counterfeit sportswear.
This coordinated initiative aims to block the entry of fake and substandard products into the EU market, thereby protecting consumers, safeguarding public health, and defending legitimate businesses across Europe. As counterfeit goods often bypass safety regulations, they can pose significant risks, particularly during high-demand periods surrounding major international sporting events.
The operation on Friday resulted in the seizure of 59 boxes containing goods with a market value of approximately €570,000. It is believed that the sportswear was intended to be sold in connection with the Copa del Rey final taking place in Spain on 26 April.
OLAF is currently coordinating ongoing activities across several Member States, providing relevant intelligence and information to support enforcement actions. This approach has already resulted in multiple successful seizures of counterfeit sportswear, with Spain recording the majority of recent interceptions.
OLAF Director-General Ville Itälä said: “Counterfeit products not only harm the EU economy and legitimate businesses but can also pose health and safety risks to consumers. The upcoming sporting season has drawn the attention of criminal networks eager to exploit the market. The seizure in Spain is a clear example of what strong cooperation and timely intelligence sharing can achieve. OLAF remains committed to working with national and EU partners to prevent fake and potentially dangerous goods from reaching European consumers.”
OLAF will continue to monitor and coordinate activities in the field to combat the illicit trade in counterfeit goods, standing firm against those who attempt to exploit the EU market.
For more information and video, please see the communication from the Spanish Policehere
OLAF mission, mandate and competences: OLAF’s mission is to detect, investigate and stop fraud with EU funds.
OLAF fulfils its mission by: • carrying out independent investigations into fraud and corruption involving EU funds, so as to ensure that all EU taxpayers’ money reaches projects that can create jobs and growth in Europe; • contributing to strengthening citizens’ trust in the EU Institutions by investigating serious misconduct by EU staff and members of the EU Institutions; • developing a sound EU anti-fraud policy.
In its independent investigative function, OLAF can investigate matters relating to fraud, corruption and other offences affecting the EU financial interests concerning: • all EU expenditure: the main spending categories are Structural Funds, agricultural policy and rural development funds, direct expenditure and external aid; • some areas of EU revenue, mainly customs duties; • suspicions of serious misconduct by EU staff and members of the EU institutions.
Once OLAF has completed its investigation, it is for the competent EU and national authorities to examine and decide on the follow-up of OLAF’s recommendations. All persons concerned are presumed to be innocent until proven guilty in a competent national or EU court of law.
For further details:
Pierluigi CATERINO Spokesperson European Anti-Fraud Office (OLAF) Phone: +32(0)2 29-52335 Email: olaf-mediaec [dot] europa [dot] eu(olaf-media[at]ec[dot]europa[dot]eu) https://anti-fraud.ec.europa.eu LinkedIn: European Anti-Fraud Office (OLAF) Bluesky: euantifraud.bsky.social
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Users can earn seamlessly on stablecoins with flexible, secure onchain strategies — while maintaining full control over assets.
DUBAI, United Arab Emirates, April 28, 2025 (GLOBE NEWSWIRE) — Trust Wallet, the world’s leading self-custody Web3 wallet trusted by over 200 million users, has launched Stablecoin Earn, a new feature that lets users deposit stablecoins and earn seamlessly with full flexibility. By integrating secure and automated onchain strategies, Trust Wallet makes earning passive rewards seamless, flexible, and fully non-custodial—all within the app.
With no lock-up periods and support for stablecoins like USDC, USDT, DAI, and USDA across multiple blockchains—including Ethereum, BNB Chain, Base, and Arbitrum – Stablecoin Earn offers a simple way to put your stablecoins to work while maintaining full control over assets.
“Last September, we observed that billions in USDT held by Trust Wallet users on-chain remained inactive for six months despite somewhat bullish market conditions. For our ‘holder-ish’ users, our goal is to help them put their assets to work, while also activating valuable liquidity to support on-chain projects,” said Eowyn Chen, CEO of Trust Wallet. “By integrating secure on-chain strategy platforms through a user-friendly interface, we aim to empower users to easily earn rewards while maintaining full control of their funds.”
How Stablecoin Earn Works
Stablecoin Earn offers a seamless way to earn on your stablecoins—directly from your wallet, with full control at every step. By tapping into established onchain protocols, the feature simplifies the earning experience without requiring users to manage complex DeFi setups. Just deposit and start earning rewards—all while keeping your assets self-custodied and accessible.
With Stablecoin Earn, users can:
Earn passively on stablecoins—no active trading required
Deposit and withdraw anytime—no lock-ups
Access multiple DeFi protocols in one place
Earn across Ethereum, BNB Chain, Arbitrum, and Base
Receive bonus rewards (e.g., MORPHO tokens) in select vaults
Stay in full control 100% of the time—Trust Wallet is fully non-custodial
Everything happens onchain, transparently, and without intermediaries—giving users confidence in how their stablecoins are earning yield
Seamless Onchain Yield, Powered by Trusted Infrastructure
To deliver a simple and rewarding experience, Trust Wallet integrates Kiln to power Stablecoin Earn’s backend, providing access to leading DeFi infrastructure providers like Morpho for its users.
Users have the opportunity to earn exclusive bonus rewards powered by Morpho, the go-to infrastructure for lending and borrowing onchain. These additional earning opportunities include MORPHO token incentives for participating in select vaults.
”We’re excited to see Morpho selected as the default earn option in Trust Wallet’s new Earn Hub at launch, helping make DeFi yields accessible to the masses. Morpho was designed to provide self-custody solutions like Trust Wallet with a simple yet highly secure way for their users to earn the best risk-adjusted returns.” said Paul Frambot CEO and Co-Founder of Morpho Labs.
Kiln, a leading digital asset rewards management platform enabling businesses to earn rewards or to whitelabel earning functionality into their products, enables secure and automated access to multiple onchain yield strategies in Trust Wallet’s Stablecoin Earn feature – abstracting complexity so users can earn effortlessly.
“We are pleased to bring access to stablecoin yield to Trust Wallet, a longtime partner of Kiln with a history that includes our earlier projects such as Kiln Onchain, Connect, and Validators. As DeFi becomes more widespread and stablecoin yield reached double digits during the bull market, many users have recognized that stablecoins offer notable advantages. With Trust Wallet’s feature now live, our goal is to provide a solid experience for its users and continue refining the product.” said Laszlo Szabo, Co-founder and CEO of Kiln.
*Note: Until further notice this feature will not be available in the UK or U.S. This communication is intended solely for audiences outside the United Kingdom. If you are accessing this content from within the United Kingdom, please exit immediately.
About Trust Wallet
Trust Wallet is the secure, self-custody Web3 wallet and gateway for people who want to fully own, control, and leverage the power of their digital assets. From beginners to experienced users, Trust Wallet makes it easier, safer, and convenient for millions of people around the world to experience Web3, access dApps securely, store and manage their crypto and NFTs, as well as buy, sell, and stake crypto to earn rewards — all in one place and without limits.
For media enquiries, contact: press@trustwallet.com
About Kiln
Kiln is the leading digital asset rewards management platform, enabling businesses to earn rewards on their digital assets, or to whitelabel earning functionality into their products. Our platform is API-first and enables fully automated validators, rewards, and data and commission management. With over $11 billion crypto assets being programmatically staked, Kiln has a particularly strong track record on Ethereum as we run about 5% of the network; this includes 50,000+ active validators with 0 slashing events.
About Morpho
Morpho is the second-largest lending protocol on Ethereum and largest on Base, by total deposits. Morpho is a permissionless platform that operates on two levels. First, it offers tailored solutions that allow users to earn yields and borrow on their own terms. Second, it provides flexible infrastructure that enables businesses to build custom applications, such as Coinbase’s crypto-backed loans product.
Disclaimer: This is a paid post and is provided by Trustwallet. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.
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The EU’s framework for systemically important payment systems and central securities depositories/securities settlement systems is complete and consistent with the CPMI-IOSCO Principles for financial market infrastructures (PFMI) in most aspects.
The CPMI-IOSCO assessment identified some areas for improvement where implementation was broadly or partly consistent or not consistent with the PFMI.
The assessment reflects status of implementation as of October 2019. A separate assessment is to be conducted for the United Kingdom.
The EU’s implementation of the framework for systemically important payment systems (PSs) and central securities depositories (CSDs)/ securities settlement systems (SSSs) is consistent with the Principles for financial market infrastructures (PFMI) issued by the Bank for International Settlements’ Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO).
Implementation monitoring of PFMI: Level 2 assessment report for the EU – PSs and CSDs/SSSs – a CPMI-IOSCO report released today – assesses the completeness and consistency of the legal, regulatory and oversight framework in place as of 30 October 2019 for these types of financial market infrastructure.
Developments in the legal and regulatory framework following the Level 2 assessment date are not in the scope of this report.
The report finds that the implementation of the PFMI is complete and consistent for all Principles for PSs. The legal, regulatory and oversight frameworks in the EU for CSDs/SSSs are complete and consistent with the Principles in most aspects.
However, the assessment identified some areas for improvement, particularly in aspects where implementation was broadly, partly, or not consistent, including risk and governance principles.
Given that there are separate regulatory frameworks for PSs in the euro area and in Sweden, and that these are also separate from the EU-wide regime for CSDs/SSSs, the assessment team has assessed each of these separately.
The United Kingdom was part of the EU before the cut-off date for this review. However, CPMI-IOSCO decided to conduct a separate Level 2 assessment for the UK and therefore the UK’s framework was not evaluated in this report.
The assessment report for EU central counterparties and trade repositories was published in February 2015.
Cost of living boost for millions as prescription charges frozen
Millions of patients are getting a cost of living boost as the government freezes prescription charges for the first time in three years.
NHS prescription charges in England will be frozen for the first time in three years, keeping the cost of a prescription below a tenner.
The decision means £18 million saving to help with cost of living for millions who regularly pay for prescriptions as the government delivers security for working people through its Plan for Change.
Freeze comes weeks after this government agreed record investment for community pharmacies to fund local services for patients.
Millions of people across the country will see the cost of their prescriptions frozen for the first time in three years from today – as the government puts money back into the pockets of working people as it delivers on the Plan for Change.
The move will save patients around £18 million next year – keeping prescriptions under the cost of a tenner, at £9.90 for a single charge. Those who are already exempt from paying their prescription will continue to be so.
Three month and annual prescriptions prepayment certificates will also be frozen for 2025/26.
Annual charges can be made in instalments meaning those requiring regular medicines will be able to get them for just over £2 a week.
The prescription charge freeze builds on wider government action to tackle the cost of living crisis, including the rollout of free breakfast clubs, expanded childcare through 300 new school-based nurseries, lowering the cost of school uniforms, and extending the fuel duty freeze – all aimed at easing financial pressures on families across the country.
Secretary of State for Health and Social Care, Wes Streeting, said:
This government’s Plan for Change will always put working people first, and our moves today to freeze prescription charges will put money back into the pockets of millions of patients.
Fixing our NHS will be a long road – but by working closer with our pharmacies we’re saving money and shifting care to the community where it’s closer to your home.
We made the difficult but necessary choices at the Budget to fund moves like this and change our NHS so it can once again be there for you when you need it.
The announcement follows news last month of the government agreeing funding with Community Pharmacy England worth an extra £617 million over 2 years.
And the investment comes alongside reforms to deliver a raft of patient benefits, as part of the government’s agenda to shift the focus of care from hospitals into the community, so that people can more easily access care and support on their high streets.
This freeze is only possible thanks to the government’s difficult but necessary choices at the Budget to bring in a £26 billion boost to the health service.
Chancellor of the Exchequer, Rachel Reeves, said:
We promised to build an NHS fit for the future, and that started with the £26 billion funding boost I delivered at the Budget, to repair and improve the many vital services it provides.
Since then, waiting lists are falling, staff are better paid and supported, and today, £18 million has been kept in patient’s pockets by freezing prescription charges – easing the cost of living through our Plan for Change, delivering for all.
Jonathan Blades, Head of Policy at Asthma + Lung UK, said:
The freezing of prescription charges is a welcome first step and will provide some short-term relief for people with lung conditions during the ongoing cost of living crisis. Living with a long-term lung condition like asthma and chronic obstructive pulmonary disease (COPD) is expensive and rising prescription costs only make it harder for people to manage their condition and stay well.
Around 89% of prescriptions in England are already dispensed free of charge to children, over-60s, pregnant women, and those with certain medical conditions. This freeze will not impact that scheme.
In addition to the freeze on charges, the NHS low income scheme offers help with prescription payments, with free prescriptions for eligible people in certain groups such as pensioners, students, and those who receive state benefits or live in care homes.
Alongside action to rebuild the NHS, the government’s Plan for Change is focused on growing the economy to improve living standards across the country. This further freeze will only improve that.
Notes to editors:
NHS prescription charges apply in England only
A 3-month prescription prepayment certificate (PPCs) will be frozen at £32.05 and a 12 month PPCs will remain at £114.50.
Groups exempt from prescription charges include:
o Children under 16 and those in full-time education aged 16-18
o People aged 60 and over
o Pregnant women and those who have had a baby in the last 12 months
o People with specified medical conditions like diabetes or cancer and have valid exemption certificates
o Those receiving qualifying benefits including Universal Credit (with criteria)
o NHS inpatients
The freeze will also apply to NHS wigs and fabric supports; these prices will remain at current levels:
· Surgical brassiere £32.50
· Abdominal or spinal support £49.05
· Stock modacrylic wig £80.15
· Partial human hair wig £212.35
· Full bespoke human hair wig £310.55
Patients on a low income, who do not qualify for an exemption, can apply for help with help costs through application to the NHS Low Income Scheme. People can check whether they are eligible for help here.
Section 8, Special Children Act, Public Law Family and Domestic Abuse – except Domestic Abuse Protection Orders (DAPO) – applications for legal aid in civil proceedings should be submitted through the Apply for civil legal aid portal.
Apply for civil legal aid can be used for both passported and non-passported clients.
Apply for civil legal aid can be used to complete the following tasks:
Submit new applications (ongoing cases should be managed on CCMS)
Make emergency applications, when delegated functions used
To manage linked cases:
family links in proceedings with representation of 2 or more family members, with the option to copy details between the linked applications.
legal links if your client is involved in more than one court proceedings.
We continue to develop the service based on user feedback and introducing new features, but for now, the service cannot be used:
if your client is self-employed, or a member of the armed forces
to make an emergency application if delegated functions have not been used
to make both a family link and legal link to your application
to amend a submitted application
Benefits of the current service include:
automated links to HMRC for access to client pay information
the option to automatically obtain bank statements with the client’s permission
a system designed with providers as the main focus, which is better suited to provider needs
regular updates informed by provider interactions
asking for all the information we need first time, meaning fewer rejections and document requests, and quicker decisions
a streamlined process, only asking relevant questions based on answers given, reducing the time required on completion of applications for legal aid in civil cases.
As a result, the LAA makes fewer requests for additional information, allowing certificates to be issued more swiftly.
Providers using the Apply for civil legal aid service have reported:
‘The Apply service is fast and efficient. The best feature for me is being able to save and continue my application meaning that when I return, I am directed to the same page I was previously working on’.
‘Quick and that is needed when doing domestic violence [applications]. Time is of the essence’.
‘Generally, we are very happy with the process. It takes 15 minutes, it took up to 1 hour previously depending on the case’.
‘It’s generally more user friendly, not confusing, generally a much quicker and efficient way of doing it’.
‘Apply asked only necessary questions, not irrelevant like CCMS does. [CCMS] is a tick-boxing exercise’.
‘The usability is good and is quicker and everything seems to be set out clearly. For example, when adding a proceeding, you are able to search for the proceeding you require by typing it in and search results will appear, which is far better than having to sift through all the proceedings.’
You are able to review the answers provided in the sections at the end of each sections and change the answers if necessary’ but once you proceed to the next section, i.e. going from the means assessment to merits assessment, you cannot go back to the previous section.
‘The LAA would ring you up and you’d have a relationship, now this system is working back towards rebuilding that trust’.
An event held last week (Tuesday 22 April) at the City Chambers brought together the Council and partners to take steps toward building, adapting, and finding accessible homes across the Capital.
Hosted by the City of Edinburgh Council, the Accessible Housing Summit convened representatives from the third sector, housing associations and the private sector.
Through a series of roundtable discussions, participants explored three key areas: delivering new accessible homes, improving access to existing housing, and ensuring the best use of homes already available.
In a tangible step forward, the Council recently began construction on a new residential development in Newington. Once complete, the site will provide 19 modern, fully wheelchair accessible homes available for social rent.
Attendees will now consider what actions can be taken forward to address improving access to information, advice on accessible housing and planning for new accessible homes in Edinburgh.
Housing, Homelessness and Fair Work Convener Lezley Marion Cameron said:
As Edinburgh’s population grows and changes, so do the housing needs of our residents. We must therefore strive to ensure that everyone – irrespective of their health circumstances and accessibility requirements – has a home they can live in with dignity and comfort.
Whilst this is a national issue, the City of Edinburgh Council faces unique challenges, including being landlord of a high number of older, flatted properties which can often be harder and costly to adapt.
It is vital for us to understand the nature, context, and complexity of the barriers to providing fully accessible housing and to work closely and collaboratively with our partners and organisations leading this crucial work to deliver the accessible housing our citizens need now and in the future.
Ofsted has published the findings of its latest monitoring visit of Children’s Services at Liverpool City Council.
The inspection, which took place in March 2025, focused on:
Response to children at risk from exploitation or going missing from home or care, including assessment and planning for those children.
Response to disabled children, including assessment and planning for those children.
Supervision of social workers.
It found that there has been a significant improvement in the response to disabled children since March 2023, which caseloads for social workers reduced by half and increased management capacity in the team.
They report that disabled children “now benefit from thorough assessments and plans which support them and their families effectively” with risks “promptly recognised and responded to”, and social workers devoting time to “sensitively communicating with children to understand their wishes and feelings”.
They also note that the immediate response to children who go missing from home or care has also improved, noting that social workers are “persistent in their efforts to talk to children when they return home, to explore why they went missing” and that this information is used to try and reduce the risk of children going missing again.
They also found that leaders are working at pace to address issues with children at risk not always being promptly identified and referred by partner agencies, with work under way on developing a more coordinated approach to enable earlier intervention and support for vulnerable children at risk of exploitation.
They concluded that timely action is usually taken to protect children at risk of exploitation and criminality, and work is under way to address the small number of strategy discussions that are delayed.
There is also praise for children and family assessments, which “have improved in quality”, with partner agencies contributing well to them and “children’s wishes and views are sensitively sought and considered by social workers, who take the time and effort to truly know and understand children’s needs”.]
They also found “some improvement” in the quality of child in need and children protection plans, although the understanding and analysis of risks is described as “variable”.
Other improvements noted include:
Case supervision is starting to improve in quality and is now more reflective and focuses on children’s experiences, with management training starting to have a positive impact.
Regular and detailed reporting to the improvement board and scrutiny committee is providing the necessary challenge to drive improvement plans forward.
The inspection also noted that staff told inspectors that there have been “significant improvements” over the last two years, with reduced caseloads and social workers feeling safer and better able to deliver quality social work.
Ofsted said: “They welcome improved communication from leaders about plans, and value the regular employee forum and the two-way communication it facilitates. Social workers say they feel happy, motivated and well supported in their work in Liverpool, describing themselves as ‘being part of a family’.”
Councillor Liz Parsons, Cabinet Member for Children’s Services, said: “This monitoring visit highlights the progress we have made over the last two years, and that we are addressing areas that need improvement.
“Our staff are absolutely committed to delivering the very best services for children and young people in Liverpool, and I would like to thank them for their hard work which is making a positive difference to the lives of the most vulnerable every single day.
“Improving Children’s Services is a journey that takes time, and our ambition is to get to a position where we are delivering an outstanding service, as well as becoming a UNICEF Child Friendly City putting young people at the forefront of decision making. I firmly believe we are on track to achieve both.”
UConn Neag School of Education alumni Jessica Stargardter ’16 (ED), ’17 MA; Gabriel Castro ’14 (ED), ’15 MA; Nicole Holland Kew ’09 (ED), ’10 MA; and Yurah Robidas Emmenegger ’09 (ED), ’09 (CLAS), ’10 MA; have each embarked on remarkable journeys as educators, spanning continents and cultures. From their foundations at UConn to classrooms across the world, their careers highlight the transformative power of teaching beyond borders.
“Time after time, our UConn participants have told me that studying and teaching abroad has been one of the most profound experiences of their lives,” says Doug Kaufman, the Neag School’s director of global education and an associate professor of curriculum and instruction. “I see it, too. Moving away from familiar and comfortable contexts has taught them how to recognize the diverse and powerful gifts that their students at home bring into the classroom.
“Working abroad develops cultural awareness, empathy, humility, and an expanded sense of possibility when working with students. Our teachers learn how to learn from their students and advocate for them all.”
Stargardter’s passion for gifted education led her from Connecticut to Panama, Singapore, and Finland, shaping her global perspective. She says her experiences reinforce her belief in education as a universal force for change, transcending cultural and linguistic differences.
Working abroad develops cultural awareness, empathy, humility, and an expanded sense of possibility when working with students. Our teachers learn how to learn from their students and advocate for them all. — Doug Kaufman, Neag School’s director of global education
Castro’s path to teaching went from Puerto Rico to Colombia, Costa Rica, and Taiwan, and he has embraced each opportunity with curiosity and openness. His teaching philosophy is rooted in adaptation and connection, ensuring meaningful relationships with students regardless of geography. As he prepares for fatherhood, he looks forward to the next chapter of his journey.
For Kew, London became home. A study abroad trip led to a life-changing move across the Atlantic, where she has spent over a decade teaching and raising a family. Balancing work and her personal life, she cherishes her role as an educator in a diverse, evolving community.
Emmenegger’s love for language and culture brought her from Connecticut to France, Portugal, and Switzerland. Teaching French and German in international schools, she exemplifies resilience and adaptability, proving that a commitment to education can create opportunities in unexpected places.
Together, their stories illustrate the boundless impact of teaching, and the unique paths educators take to inspire students worldwide.
Reconnecting with Family Roots
From Connecticut to Puerto Rico, Colombia, Costa Rica, and now Taiwan, every step of Gabriel Castro’s ’14 (ED), ’15 MA journey has been driven by curiosity, a love for teaching, and an openness to change. (Photo courtesy of Gabriel Castro)
Education wasn’t Castro’s first choice — he entered UConn as a psychology major, uncertain of his career path. However, a mentorship role in a First-Year Experience course changed everything. Standing before a classroom, guiding new college students, he realized teaching was what he was meant to do.
After graduating from the Neag School, he took his first teaching position in Puerto Rico, reconnecting with his roots. His mother had spent much of her childhood moving between Puerto Rico and Connecticut, and teaching at a K-12 school immersed him in a close-knit community.
Three years in Puerto Rico deepened his love for international teaching and inspired him to explore the other half of his heritage. His father had emigrated from Colombia, and Castro wanted to experience the country firsthand. Moving to Colombia, he found a vibrant culture, rich with music festivals, soccer, and breathtaking landscapes. It was there he met his wife, Kismeth, a fellow international teacher from New York. He says their shared passion for education and adventure brought them together.
They had intended to take a sabbatical year traveling through South America, but the COVID-19 pandemic reshaped their plans. With borders closing, they found temporary teaching positions in Costa Rica. Castro stepped in as a last-minute math teacher, navigating virtual classes, hybrid schedules, and masked interactions. Despite the challenges, Costa Rica was a paradise.
My years of adapting to different educational environments had prepared me well. — Gabriel Castro ’14 (ED), ’15 MA
“With tourism at a standstill, nature thrived,” he says. “Sloths and monkeys roamed undisturbed, and sunsets painted the sky in hues of gold and crimson.”
As the world reopened, they faced their next big decision. Asia had always intrigued them, and Taiwan offered everything they wanted — an excellent school, a safe environment, and a strong culture of hiking, cycling, and running.
Moving to Taiwan was a leap of faith but quickly felt like home. While the language barrier existed outside the classroom, Castro found his ability to connect with students transcended words.
“My years of adapting to different educational environments had prepared me well,” he says.
From Connecticut to Puerto Rico, Colombia, Costa Rica, and now Taiwan, every step of his journey has been driven by curiosity, a love for teaching, and an openness to change. His classroom now extends beyond four walls, spanning countries, cultures, and languages, and he is preparing for an exciting new personal chapter: fatherhood.
“I have an 11-month-old puppy, so I feel like I’ve been practicing in a way,” he says. “It’s a steep learning curve! But I’m excited to see how we can continue traveling with a baby and incorporating her into our adventures.”
Finding Love While Abroad
“It’s the children, really. Seeing them progress, mature, but still retain that spark of who they are — it’s special,” says Nicole Holland Kew ’09 (ED), ’10 MA. (Photo courtesy of Nicole Holland Kew)
Fourteen years into her teaching career — first in Connecticut and then in London — Kew still finds joy in watching her students grow.
“It’s the children, really,” she says. “Seeing them progress, mature, but still retain that spark of who they are — it’s special.”
Having spent 10 years at the same London school, she has become deeply embedded in the community. She gets to know families, watches siblings pass through her classroom, and shares their triumphs and struggles.
“Teaching wasn’t just a job; it was a life woven into the fabric of so many others,” she says.
Her path to teaching began in high school when she worked at an after-school program at her former elementary school in Connecticut. Later, as a camp director at a nature center, she solidified her love for mentoring. Her mother had always dreamed of being a teacher but never pursued it.
Teaching wasn’t just a job; it was a life woven into the fabric of so many others. — Nicole Holland Kew ’09 (ED), ’10 MA
“Maybe in a way, I was fulfilling that dream for both of us,” Kew says.
A single decision changed her trajectory. Studying abroad in London while at the Neag School was supposed to be an adventure — an opportunity to explore a city she had loved since a family trip at 13. She hadn’t expected to meet her future husband just weeks into the program.
They met in a pub, a chance encounter that turned into a long-distance relationship. After navigating time zones and transatlantic flights, they decided to marry. With her husband’s career established in London and the UK actively recruiting teachers, it made sense for Kew to move.
Adjusting to teaching in England came with challenges. In Connecticut, Kew had more autonomy in her teaching, while curriculum and behavior management were standardized in London. Leadership opportunities came more readily, and she briefly considered administration but loved being in the classroom too much.
Balancing work and family was another challenge. With four children — two daughters, 6 and 4, and toddler twins — her hands are full.
“Honestly,” she says, “going to work feels like a break compared to being home!”
London has become home in ways she never expected. During the uncertainty of the COVID-19 pandemic, she and her husband considered moving to the U.S. to be closer to her family, but something always held them back. London has given her a life she cherishes, a career she loves, a community she belongs to, and — most importantly — a family she has built from the ground up.
Focused on All Things French
Yurah Robidas Emmenegger ’09 (ED), ’09 (CLAS), ’10 MA says her Neag School education instilled adaptability, an open-minded approach to curricula, and a hands-on teaching philosophy. These lessons help her navigate unfamiliar school systems and cultural differences with confidence. (Photo courtesy of Yurah Robidas Emmenegger)
Emmenegger, who taught for 15 years in Connecticut and now teaches in France, first became interested in education while teaching piano and tutoring in high school. With a mother who was also a teacher, it felt natural.
“It just made sense that I would become a teacher,” she says.
Growing up in Bristol and Plainville, Emmenegger developed a love for French through her mother, who had lived in Switzerland and Portugal.
“She sang to us in French as kids,” Emmenegger says. “In high school, I jumped at the chance to study it.”
A summer program in France in 2007 and the Neag School’s study abroad program in London during her master’s year of the Integrated Bachelor’s/Master’s teacher education program deepened her passion for language and curriculum planning.
My marriage, career, and worldview have all been shaped by this journey. While I still hope for a French teaching position, I know I am exactly where I am meant to be. — Yurah Robidas Emmenegger ’09 (ED), ’09 (CLAS), ’10 MA
After graduating, she taught French in Ellington, for three years but longed to live in France. She joined the French government’s teaching assistant program and was placed in Monté, where she lived with international assistants and did a weekly language exchange with another teacher. She spoke in English for half an hour for the language exchange to help the other teacher improve his English communication skills. Then, the other half specifically worked on improving her grammar.
Since she couldn’t teach French in France, Emmenegger explored other opportunities. Her mother’s past in Portugal led her there for Christmas, where she fell in love with the country and found a teaching job. But her journey took an unexpected turn — she met her future husband in Switzerland. When the world shut down in 2020, they spent months apart. Determined to be together, they married in May 2021, and, by July, she had moved to Switzerland.
Finding a teaching job there was challenging. She took a role at a private school, but it wasn’t the right fit.
She joined the International School of Basel (ISB), but no French positions were available. Expanding her search, she took a six-month role at a Swiss public school, but left after half a year.
ISB welcomed her back with an unexpected offer: teaching beginner German. Having learned German just two years earlier through Duolingo and night classes, she thought the interview offer was a joke. But ISB encouraged her. She took the leap and found herself in a supportive, engaging environment. ISB promised her priority for the next French opening, but no one wanted to leave — a testament to the school’s quality.
Despite career uncertainties, Emmenegger and her husband were building a life together. He was teaching while finishing his studies, and they navigated the challenges of being an international couple.
“You have to be open to moving,” she says. “Each time I relocated, I rebuilt my support system, making me appreciate my deep connections back home even more.”
She says her Neag School education instilled adaptability, an open-minded approach to curricula, and a hands-on teaching philosophy. These lessons helped her navigate unfamiliar school systems and cultural differences with confidence.
For those who love studying abroad, Emmenegger encourages taking the next step and teaching internationally, as she has no regrets.
“My marriage, career, and worldview have all been shaped by this journey,” she says. “And while I still hope for a French teaching position, I know I am exactly where I am meant to be.”
From UConn to Global Classrooms
Jessica Stargardter’s ’16 (ED), ’17 MA teaching journey included a year in Finland as a Fulbright Scholar, during which time she researched teacher evaluations in the country’s globally recognized education system. (Photo courtesy of Jessica Stargardter)
Stargardter’s journey as an educator has been extraordinary, spanning continents and shaping her perspective on the transformative power of teaching. After graduating from the Neag School, she began her career in Connecticut, teaching in Greenwich Public Schools before moving to Norwalk. There, she discovered her passion for gifted and talented education, an interest sparked during her time at UConn, where she worked at the Renzulli Center for Creativity, Gifted Education, and Talent Development.
“I started filing papers at first, but then I received a grant to conduct research,” she says, which ignited a lifelong commitment to student potential.
Stargardter’s dedication led her to teach abroad at the International School of Panama.
“It was my first experience in a traditional classroom after working across grade levels,” she says. “I felt like a first-year teacher again, but it taught me so much about myself and the world.”
She later moved to Singapore, where she found a more manageable cultural transition.
“I was in a classroom with students from all over the world, each bringing something unique,” she says. “It was challenging but incredibly rewarding.”
Teaching is more than just a profession. It’s a way to change lives, one student at a time, no matter where I teach. — Jessica Stargardter ’16 (ED), ’17 MA
Teaching abroad reinforced her belief in education’s universal impact, transcending borders and backgrounds. Reflecting on what initially drew her to teaching, Stargardter credits her third-grade teacher, Mr. Simeone.
“He gamified everything,” she says. “Learning was fun and engaging. I remember thinking I wanted to do the same for my students.”
Her teaching journey also included a year in Finland as a Fulbright Scholar, during which time she researched teacher evaluations in the country’s globally recognized education system. Initially considering a career in academia, she realized how much she missed teaching, leading her back to the classroom and eventually to her move to Panama.
Stargardter’s foundation for success was built at the Neag School, where extensive classroom experiences prepared her for any teaching environment.
“Neag gave me the tools to step into my first classroom ready to succeed,” she says, crediting the program’s diverse placements for shaping her adaptable teaching philosophy.
During her master’s year, Stargardter interned in London through one of the Neag School’s study abroad programs, working at a school for adolescents with mental health challenges. She says this experience reshaped her understanding of education, teaching her that learning extends beyond traditional classrooms.
Her journey abroad has reinforced her belief in cross-cultural education’s power to broaden perspectives.
“Teaching is more than just a profession,” she says. “It’s a way to change lives, one student at a time, no matter where I teach.”
To learn more about the Neag School’s teacher education programs, visit teachered.education.uconn.edu.
Source: United Kingdom – Executive Government & Departments
News story
Sellafield’s ’locked vault’ gives up its nuclear secrets
One of the most challenging puzzles in the UK’s nuclear clean-up programme is being solved.
Operators in the control room of Sellafield’s Pile Fuel Cladding Silo
Waste is now being routinely retrieved from one of the world’s oldest nuclear waste stores for the first time in its history.
Sellafield’s Pile Fuel Cladding Silo has effectively been a locked vault since the 1970s. That was when waste stopped being tipped into its 6 compartments.
After decades of work to figure out how to take waste from a building designed never to be emptied, retrievals teams are now doing exactly that.
So far, enough waste to fill 18 storage boxes has been cleared.
And some of the items recovered are not what you’d expect in an intermediate level nuclear waste store.
Among them is a 1960s Electrolux vacuum cleaner.
It’s believed the household hoover was used to suck up dust in the facility during its operational life in the 1950s and 60s.
Because the dust was radioactive, when the vacuum was no longer needed, the only place to dispose of it was in the silo itself.
The 1960s Electrolux vacuum cleaner discovered in Sellafield’s Pile Fuel Cladding Store
It’s a fantastic achievement to get to the point where we’re routinely retrieving waste from the building.
The scale of the challenge was immense. Remember, this was a facility that was not designed to be emptied.
The vacuum cleaner is a great example of how challenging it is to clear this silo. We don’t know for sure what’s in there. They didn’t keep accurate records in those days.
Anything taken into the building by the workforce of the day was likely to be contaminated because of the environment they were working in.
There was no alternative disposal route for contaminated material, so everything just went into the silo.
Ironically, a modern-day vacuum cleaner is also playing a part in the waste removal job, sucking up dust created when waste is dropped into storage boxes. It will eventually be consigned as waste itself, joining its 1960s predecessor.
Removing waste from old buildings like the Pile Fuel Cladding Silo is Sellafield’s most important job today.
Alongside it, there’s another silo and 2 ponds that need to be emptied. The ponds store used nuclear fuel underwater and were also not designed to be emptied.
Each one of these buildings needs its own unique decommissioning plan. All of them will take decades to complete.
You can read more about the plan for the Pile Fuel Cladding Silo here.
Roddy added:
For the first time in our history, we’re routinely retrieving waste from all 4 of our legacy ponds and silos.
That’s an incredibly important milestone in our journey to clean up the site.
But there’s a lot of work yet to do and these four facilities will continue to challenge for many years to come.
Our focus now is to safely accelerate the pace of retrievals and ultimately eliminate the risk these historic buildings pose.
This application followed the execution of a drugs warrant at the property by West Midlands Police on Friday 14 February when a firearm and ammunition were recovered alongside a quantity of suspected class A controlled drugs and other weapons involving a considerable number of additional officers and resources from across the area.
The Police were met with a hostile and violent response and a critical incident was declared. A number of people were arrested and remain on police bail pending further investigation.
Given the impact on the local community and clear evidence of serious criminality conducted at the property, Wolverhampton Homes Anti-Social Behaviour Team worked closely with West Midlands Police and applied for a Closure Order to close the premises immediately under the ASB, Crime and Policing Act 2014 to prevent further criminality and potential disorder taking place.
A Closure Order forbids any persons, including all residents of the property to enter the property for an initial period of 3 months and can be extended on application to the Court. Any breach of the order is an offence which, on conviction, can result in a fine or imprisonment.
The City Council’s Homeless Team is supporting the displaced residents to secure alternative accommodation.
Councillor Obaida Ahmed, Cabinet member for Digital and Community said: “Such criminality and disorder is incredibly harmful to communities and will not be tolerated. The council, police and Wolverhampton Homes will not hesitate to take robust action in these circumstances to protect the local community.
“Tackling ASB is one of the key priorities for the Safter Wolverhampton Partnership – giving confidence to residents that we are willing to take action and empowering them to report issues that are impacting individuals, communities and businesses.”
Inspector Chris Turner, who covers policing across the local area, said: “We are committed to reducing anti-social and criminal behaviour across the neighbourhood and we understand the distress and disruption such issues can cause people living locally.
“We always urge people to get in touch if they have concerns or information about criminal activity, as we will always seek to act on the information we receive.”
Director of education support companies jailed after spending £200,000 in Covid loans ‘as he saw fit’
Bounce Back Loan fraudster convicted after Insolvency Service investigations
Ricky Harrison fraudulently obtained four Covid Bounce Back Loans, including three for dormant companies
Money from the loans was used by Harrison for his own personal benefit and he attempted to avoid having to make any repayments by applying to have all four of his companies struck-off the Companies House register
Harrison has been sentenced to more than three years in prison following Insolvency Service investigations into his conduct
A director who secured maximum-value Covid loans for three dormant companies and overstated his turnover to secure a fourth during the pandemic has been jailed.
Ricky Harrison received a total of £200,000 in Bounce Back Loans during 2020, when he was entitled to just £16,000 at most. He also spent the money for personal purposes, not for business use as was required.
Three of his companies, Hackney Works Ltd, Tower Hamlets Works Ltd and Ricky Harrison Holdings Ltd, were not trading at the time he made his fraudulent applications to the bank.
The 41-year-old also exaggerated his turnover by more than £150,000 for a fourth company, Newham Works Ltd.
Harrison, of Beacon Court, Hertford Heath, Hertfordshire, was sentenced to three years and two months in prison when he appeared at St Albans Crown Court on Friday 25 April.
He was also disqualified as a director for 10 years.
David Snasdell, Chief Investigator at the Insolvency Service, said:
Ricky Harrison’s actions were deeply cynical. He exploited an opportunity to help himself to taxpayers’ money during what was a national emergency.
Harrison did not co-operate with Insolvency Service investigations, failing to attend a pre-arranged interview and instead producing a typed statement where he implausibly claimed he was entitled to all the loans and was at liberty to spend the funds as he saw fit.
The reality is that Harrison was not entitled to the vast majority of the money he received and was required to spend the funds for the economic benefit of his business.
This was public money and we will continue to prosecute those who made such obvious false representations to secure Covid support.
Harrison’s four companies were incorporated within a three-week period in December 2018 and January 2019.
Hackney Works, Tower Hamlets Works, and Newham Works were all described on Companies House as providing “educational support services”. Ricky Harrison Holdings was described as a holding company.
Only Newham Works appeared to have any trading income in 2019.
Harrison himself admitted to an accountant that Hackney Works and Tower Hamlets Works were dormant and that there was no need to prepare any accounts for them.
Analysis of the accounts of Ricky Harrison Holdings revealed no evidence that the company had begun trading in its own right.
Despite this, Harrison falsely declared the companies had an annual turnover of £245,000, £232,000, and £315,000 respectively when he made the applications for three £50,000 Bounce Back Loans across a two-day period in May 2020.
At the same time, Harrison made a fraudulent application for a £50,000 Bounce Back Loan for Newham Works. He declared on the application form that the company’s turnover was £215,000 when it was actually only £64,000.
Harrison transferred some of the money he received to his other companies, including Newham Works, and paid a percentage into his own personal account.
A total of £85,000 also appeared to be used for the purchase of a vehicle in June 2020.
Harrison told the bank he would repay the funds, as was required under the terms of the scheme.
However, in July 2020, just weeks after securing the loans, Harrison applied to have Hackney Works and Tower Hamlets Works struck-off the Companies House register.
Harrison subsequently attempted to strike-off Ricky Harrison Holdings and Newham Works in 2021 but was unsuccessful.
No loan repayments were made by Harrison aside from a single payment of £833.
Further information
Ricky Harrison is of Beacon Court, Hertford Heath, Hertfordshire. His date of birth is 4 April 1984
Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.
Rosneft held a large-scale competition for its employees in the Moscow region city of Shchyolkovo to pass the standards of the All-Russian physical culture and sports complex “Ready for Labor and Defense” (GTO). The company dedicated the competition to the 80th anniversary of Victory in the Great Patriotic War.
The event was attended by about 700 amateur athletes from 66 of the Company’s enterprises from all over the country, as well as from the central management office.
Over the course of two days, participants had to demonstrate their strength, endurance, and flexibility. Athletes could pass GTO standards in 13 disciplines, including short and long-distance running, long jumps, bends, pull-ups, push-ups, kettlebell snatches, and shooting.
Participants in the GTO standards were divided into age groups and difficulty levels. Many employees did not limit themselves to the minimum requirements for passing the standards when performing exercises – they set personal records and also tried to show the best result among all athletes. Thus, the record for the number of push-ups among women this year was 140 times, among men – 166 times.
The event also included functional all-round competitions, which have become especially popular among employees this year. The number of teams has almost doubled compared to last year’s competitions – up to 73 teams versus 40 in 2024. The total number of participants was 213 people.
On the first day of the competition, teams of three completed six events: rowing, kettlebell push, medicine ball throw, team pull-up, rope jumping, and farmer’s walk. On the second day, athletes competed for victory in the game “Sniper” and a mixed running relay of different distances.
The teams were divided into four age categories: 18-29, 30-39, 40-49 and 50-59. Seven teams applied for the last one. The best in the all-around were the teams RN-BashNIPIneft (18-29), Udmurtneft (categories 30-39 and 40-49) and RN-Uvatneftegaz (50-59).
The winners of the competition were awarded diplomas, cups and certificates. Sergei Fedorov, a three-time world hockey champion, silver and bronze medalist of the Olympic Games, three-time USSR champion, three-time Stanley Cup winner and two-time Gagarin Cup winner as the head coach of CSKA, took part in the award ceremony.
Support for mass sports is one of Rosneft’s key priorities. The Company’s athletes take part in all major mass sports competitions, winning prizes. Rosneft supports amateur sports and carries out large-scale work to popularize a healthy lifestyle both among its employees and among the population in the regions where it operates.
As part of the corporate sports and health movement “Energy of Life”, employees regularly engage in sports and compete in various sports disciplines. In 2024, almost 128 thousand employees of the Company engaged in sports as part of the “Energy of Life” movement. At the same time, more than 92 thousand employees took part in competitions in various sports.
Reference:
The All-Russian physical culture and sports complex “Ready for Labor and Defense” (GTO) is a full-fledged program and regulatory framework for physical education of the country’s population, aimed at developing mass sports and improving the health of the nation. The GTO complex provides for preparation for the implementation and direct implementation by the population of various age groups (from 6 to 70 years and older) of established regulatory requirements for three difficulty levels corresponding to the gold, silver and bronze badges of distinction “Ready for Labor and Defense” (GTO).
The development of the sports movement is one of Rosneft’s key priorities. For active support and systematic work to popularize the GTO complex, in 2023 Rosneft became the winner of the Champion award, established by the Roscongress Foundation’s sports platform RK-Sport and the Reputation educational forum.
Department of Information and Advertising of PJSC NK Rosneft April 28, 2025
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.
Stoke-on-Trent will have “an unrelenting focus on increasing preventative activity” if a new health and wellbeing strategy is approved.
The draft document of the Joint Health and Wellbeing Strategy 2025-28 promises a permanent shift towards investment in activities that help people to stay well and prevent avoidable health problems.
The strategy is aimed at tackling a number of key challenges in the city such as improving healthy life expectancy, infant mortality rates, and supporting the safe reduction of the number of children in care.
In addition, it will also look to improve the poor levels of physical and mental health that have social and economic impacts on residents, as they prevent people living full lives or accessing jobs and training.
The strategy’s targets include ensuring children reach and sustain a healthy weight, reducing repeat hospital admissions among young people for long-term conditions like asthma and diabetes and reducing premature deaths among the under 75s, whilst supporting older people to live actively and independently.
Councillor Lynn Watkins, cabinet member for health and wellbeing at Stoke-on-Trent City Council, said: “This strategy promises significant investment when tackling the key health challenges facing Stoke-on-Trent and will be important in our efforts to build a healthier city and reduce health inequalities.
“It is important residents’ experience is at the centre of helping to shape future care and support and that they know how to access services that will improve their health.
“By supporting independent living and prevention, this strategy won’t just offer the best health outcomes but also give people the greatest opportunity to thrive economically too.”
The Strategy will go to the council’s ruling cabinet this month. If approved, it will go to full council for final sign off.
Palestinian Authority and UK strengthen ties to continue work towards long-term peace
Prime Minister and Foreign Secretary host Palestinian Authority Prime Minister Mohammad Mustafa, demonstrating the UK’s steadfast support for the Palestinian Authority.
Prime Minister Keir Starmer and Foreign Secretary David Lammy will today host Prime Minister Mohammad Mustafa in London, marking the first official Palestinian Authority Prime Ministerial visit to the UK since 2021.
The invitation reflects the UK’s steadfast support for the Palestinian Authority and the Palestinian people at a critical juncture in the Occupied Palestinian Territories, and desire to further strengthen bilateral relations.
The Foreign Secretary and Prime Minister Mustafa will sign a landmark Memorandum of Understanding enshrining their commitment to advancing Palestinian statehood as part of a two-state solution. It will also stress that the Palestinian Authority is the only legitimate governing entity in the Occupied Palestinian Territories, and underlines the importance of reunifying Gaza and the West Bank under its authority. The MoU will also underscore the commitment of the Palestinian Authority to deliver its reform agenda as a matter of priority.
Alongside this, the UK will announce a package of support for the Occupied Palestinian Territories, expected to include £101 million directed at humanitarian relief, support for Palestinian economic development, and strengthening Palestinian Authority governance and reform.
The UK and PA will also agree on a coordinated approach to Gaza’s future, building on Arab and Palestinian-led initiatives. The UK will make clear that Hamas must immediately release the hostages and relinquish control of Gaza.
The strengthening of the UK-Palestinian partnership represents a key component of the UK government’s Plan for Change, as it works to support long-term peace and security in the Middle East. By working even more closely with the Palestinian Authority, the UK is demonstrating its commitment to the two-state solution as the best option for a safe and secure Israel alongside a viable and sovereign Palestinian state.
Foreign Secretary David Lammy said:
This visit marks a significant step in strengthening our relationship with the Palestinian Authority – a key partner for peace in the Middle East – at a critical moment.
The UK is clear that there can be no role for Hamas in the future of Gaza and we are committed to working with the Palestinian Authority as the only legitimate governing entity in the Occupied Palestinian Territories.
We will not give up on the two-state solution, with a Palestinian state and Israel living side-by-side in peace, dignity and security. I reaffirm the UK’s commitment to recognising a Palestinian state as a contribution to that process, at a time that has the greatest impact.
During the visit Prime Minister Mustafa will outline the Palestinian Authority’s reform programme which focuses on strengthening financial sustainability, enhancing governance transparency, and improving service delivery to Palestinian citizens.
Background
this is the first official Palestinian Authority Prime Ministerial visit to the UK since former Prime Minister Mohammad Shtayyeh visited Glasgow in 2021 for COP26
Memorandum of Understanding: the MoU establishes a new framework for UK-Palestinian cooperation which will reiterate both parties’ commitment to the two-state solution, and pursue further cooperation in areas including economic development, trade and security
this comes as Lord Collins is also due to attend the UN Security Council Middle East Peace Process meeting on Tuesday where he will re-affirm the UK position on progressing towards a long-term peace in the region
the funding announcement is single-year (financial year 2025 to 2026) and future funding is subject to the ongoing Spending Review
Vatican City (Fides Agency) – In times of darkness, “the Lord comes to us with the light of the Resurrection to illuminate our hearts.” This is what happened to Jesus’ disciples when they encountered the Risen One, who after Jesus’ death on the cross had felt “ orphaned, alone, lost, threatened and helpless”. This is happening again today, with the light of Easter illuminating even the sadness over the end of Pope Francis’ earthly life.On the sun-drenched St. Peter’s Square, Cardinal Pietro Parolin addressed the approximately 200,000 young people who had come to Rome from all over the world to participate in the Holy Year of Youth with words of hope and Easter joy during the funeral Mass for the late Pope on the second day of the “Novendiale.”Easter joy, the Venetian cardinal told the boys and girls, “ can almost be touched in this square today; you can see it etched above all in your faces, dear children and young people who have come from all over the world to celebrate the Jubilee. You come from so many places: from all of the dioceses of Italy, from Europe, from the United States to Latin America, from Africa to Asia, from the United Arab Emirates… with you here, the whole world is truly present!”Cardinal Parolin recalled that Pope Francis, quoting the Apostolic Exhortation Evangelii gaudium, placed the joy of the Gospel at the center of his pontificate, which “fills the hearts and lives of all who encounter Jesus”. “Never forget,” the cardinal urged, ‘to nourish your lives with the true hope that has the face of Jesus Christ’ with whom ‘you will never be abandoned or alone,’ He ”who comes to meet you where you are, to give you the courage to live.” On the second Sunday of Easter, Dominica in Albis, when the Church also celebrates the Feast of Divine Mercy, Cardinal Parolin also recalled that “it is precisely the Father’s mercy, likewise the eagerness to proclaim and share God’s mercy with all – the proclamation of the Good News, evangelisation – was the principal theme of his pontificate. He reminded us that “mercy” is the very name of God, and, therefore, no one can put a limit on his merciful love with which he wants to raise us up and make us new people.” The affection manifested for Pope Francis after the end of his earthly life, the Cardinal emphasized in his homily, “must not remain a mere emotion of the moment; we must welcome his legacy and make it part of our lives, opening ourselves to God’s mercy and also being merciful to one another”. Mercy, added the cardinal, “brings us back to the heart of faith,” “heals and creates a new world, putting out the fires of distrust, hatred and violence: this is the great teaching of Pope Francis.” ( Fides Agency 27/4/2025).
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Srinagar (Fides Agency) – The Parliament of the Indian state of Jammu and Kashmir passed a resolution today, April 28, expressing its dismay at the terrorist attack on April 22 in Pahalgam (Kashmir), which killed 26 people, mostly Indian tourists. The resolution pledges to resolutely combat “plans to disrupt harmony between communities and hinder progress.” Meanwhile, tensions remain high on the border between India and Pakistan following the attack by Pakistan-based terrorist groups, which India has described as an “act of war.” Violations of the ceasefire were reported for the fourth consecutive day along the Line of Control (LoC), the temporary border dividing Indian-controlled and Pakistani-controlled areas of Kashmir.Meanwhile, the Indian government has banned 16 Pakistani YouTube channels for spreading provocative content and disinformation against India.On the Pakistani side, the government in Islamabad banned Indian airlines from using its airspace due to escalating tensions between the two countries. Pakistani Prime Minister Shehbaz Sharif emphasized that Pakistan “seeks peace in the region”: “Pakistan condemns all forms of terrorism and has nothing to do with the recent terrorist attack in Pahalgam in the Indian-controlled region of Kashmir,” he said. He reiterated that Pakistan was ready to “cooperate in a transparent and impartial investigation into the terrorist attack.” He recalled that the Pakistani people themselves had been victims of terrorism over the past two decades, with thousands of their citizens losing their lives. Commenting on India’s decision to suspend cooperation with Pakistan under the Indus Water Treaty, he said, “Using water as a weapon is unacceptable.”There is only one Catholic diocese (with about 7,000 faithful) in the Indian state of Kashmir, which covers the entire territory. The Bishop of Jammu-Srinagar, Ivan Pereira, expressed his deep shock and condemned the “horrific terrorist attack against innocent tourists.” “This senseless act of violence,” said Bishop Pereira, ‘casts a dark shadow on our collective conscience’ and constitutes ‘an attack on the sanctity of human life and a betrayal of the values we hold dear as a nation: peace, harmony, and the dignity of every human being.’ He assured that he would pray unceasingly for peace.Meanwhile, in central India, the Catholic community of the Diocese of Indore paid their respects and celebrated the funeral of Sushil Nathaniel, a 57-year-old Catholic who was one of the tourists killed in Kashmir. Nathaniel, regional director of an insurance company, was on vacation in Kashmir with his wife and two children, who managed to escape. According to his wife Jennifer, the terrorists stopped Nathaniel and asked him what his faith was. Nathaniel admitted he was Catholic. They then asked him to kneel and recite the “Kalima” (the six phrases that are the foundation of the Islamic faith, a declaration of loyalty to Allah), and Nathaniel confessed he did not know them. So they shot him in the head in cold blood. The Bishop of Indore, Monsignor Thomas Kuttimackal, celebrating the funeral, praised Nathaniel’s “courage in not hiding his faith even under threat of arms,” calling him “a martyr.” (PA) (Fides Agency 28/4/2025)
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Outlines strong operational and financial performance driven by the Company’s transformative strategy
Warns that Elliott’s high-risk proposals are misleading, based on flawed analysis and threaten long-term shareholder value
Underscores the valuable skills and experiences Phillips 66’s Board and nominees have to drive shareholder value creation, superior to those of Elliott’s nominees
HOUSTON–(BUSINESS WIRE)– Phillips 66 (NYSE:PSX) (the “Company”) today filed an investor presentation with the U.S. Securities and Exchange Commission in connection with its upcoming Annual Meeting of Shareholders on May 21, 2025.
In conjunction with the presentation, Phillips 66 published two new videos that showcase the skills and experiences the Company’s two new Board nominees, A. Nigel Hearne and Howard Ungerleider, would bring to the Board and how they would approach driving shareholder value as a potential Board member of Phillips 66.
The presentation and the videos are available at www.phillips66delivers.com.
Highlights of the investor presentation include:
Phillips 66’s proven strategy has driven, and will drive, outperformance for shareholders
Since Mark Lashier became President and CEO in 2022, Phillips 66 has delivered total shareholder returns of 67%1, significantly outperforming the S&P 500 Energy Index by 45%1 and the Company’s synthetic proxy peer median2 by 42%1
In under three years, Phillips 66 has taken significant action, including returning over $14 billion to shareholders through share repurchases and dividends, rationalization of Refining assets, $3.5 billion in non-core asset divestitures, and opportunistic Midstream expansion through the Pinnacle and EPIC NGL acquisitions3
Reduced Refining Adjusted Controllable Costs from $6.98/bbl in 2022 to $5.90/bbl4 in 2024 with a clear plan in place to further reduce costs and achieve $5.50/bbl by 20275
Phillips 66’s transformative strategy is in its early innings and has significant room to deliver further value. This proven strategy will continue to drive long-term competitiveness in Refining, grow the NGL value chain, maintain the Company’s advantaged position in Chemicals, optimize profitability across all assets, and deliver consistent, compelling returns
Phillips 66 has delivered Refining profitability on par with peers on a like-for-like basis, while outperforming them in overall Refining cost improvements since 2022 6. The Company remains focused on cost improvements with a focus on further enhancing market capture.
Compared to 2021, our projected Midstream Adjusted EBITDA (post EPIC NGL) has grown by $1.9 billion, driven by an incremental 18% Cash Return on Capital Invested7, with additional organic growth opportunities in the future
CPChem’s global scale and feedstock advantages result in a self-funding joint venture with stable, growing distributions that is constructing two world-scale projects coming online in late 2026
The Company’s integrated model creates consistent and compelling long-term value for shareholders
Compared to the weighted proxy peer average, the Company’s integrated model delivers higher returns for shareholders and lower volatility across cycles
Phillips 66’s integrated structure creates $500 million in annual operating synergies8, as the Midstream business ensures reliable supply and integrated logistics for refineries and CPChem, ultimately improving flow assurance, feedstock quality, blending efficiency, and market flexibility
Since the spinoff in 2012, we have grown our dividend at a 15% CAGR.9 Our annual dividend paid has increased every year – a rare achievement in the energy sector, especially through economic and commodity cycles
Elliott, which has notable conflicts of interest, is attempting to mislead shareholders while pushing a short-sighted agenda that introduces undue risk and threatens to disrupt long-term shareholder returns
Elliott has demonstrated a pattern of inconsistent engagement with the Company, including prolonged periods of no engagement followed by public presentations with new demands, not allowing the Board to interview its nominees and seeking to replace Bob Pease – a director who was appointed in mutual agreement with Elliott10
Misleading shareholders has been a core focus of Elliott’s campaign – twisting quotes from management, describing their annual resignation proposal as voluntary despite the plain language of the proposalrequiringresignation, mischaracterizing Phillips 66’s business and comparing our performance to peers who report their metrics differently
Elliott’s proposals ignore action already taken by Phillips 66 to reduce Refining Adjusted Controllable Costs
Elliott’s calls to separate the Midstream business and CPChem are not only misguided and risky, but are underpinned by speculative valuations, ignore potentially large tax leakages and are driven by comparisons to other situations that are not applicable to Phillips 66
Elliott’s subsidiary, Amber Energy, is in pursuit of CITGO – a direct competitor of Phillips 66 in a core operational corridor – and is being led by the same portfolio managers who are driving its proxy campaign against Phillips 66 and actively trying to undermine our strategy.Elliott’s public solicitation materials do not clearly mention its pursuit of CITGO, or that multiple members of the Amber Energy leadership team have been directly involved in soliciting Phillips 66 shareholders
Phillips 66’s highly skilled and refreshed Board is a group of change agents with a track record of value creation, while Elliott’s nominees pose a risk to shareholder value
Phillips 66’s Board composition is closely aligned with the Company’s strategy. Of our continuing Directors and our nominees, six have refining experience, five have chemicals experience and five have midstream experience. Nearly everyone has experience in business transformations, several have expertise in finance and a number are experts in supply chains11
The Board consistently and rigorously evaluates the portfolio and other alternatives with a clear focus on maximizing long-term shareholder value – and remains prepared to take decisive action to achieve that goal
Our Directors and nominees have overseen more than $300 billion in “breakup” or major divestiture transactions12 and consistently evaluate the portfolio for value-creating opportunities
With five new directors appointed within the past four years, the Board has a strong track record of regular refreshment
Compared to Phillips 66’s nominees, Elliott’s nominees bring less relevant expertise and have redundant backgrounds. They also have conflicts of interests and close ties to Elliott and Amber Energy, who are actively pursuing one of our direct competitors, CITGO
Phillips 66’s nominees are significantly superior to Elliott’s in every category. Our nominees have experiences that are directly relevant to the Company’s strategy and have notably stronger track records of creating value at publicly traded companies when compared to Elliott’s nominees
Elliott has put forth illegal corporate governance demands, masked by misleading communications
As you know, the Board is fully committed to declassifying in accordance with our governing documents such that each of our directors is up for election each year. Our last attempt to do so received approval from 73% of outstanding shares. We encourage shareholders to vote FOR management’s declassification proposal
In contrast, Elliott is asking us to devise a “workaround” to declassify the Board in a de facto manner, without obtaining the required stockholder vote to do so. Our charter and by-laws do not give us that power. Put simply, if implemented, Elliott’s annual resignation proposal would contravene Delaware law, our company’s charter and by-laws and our Board’s fiduciary duties to shareholders. These facts are totally irreconcilable with Elliott’s purported interest in good corporate governance. The SEC has a process for companies to be able to exclude 14a-8 shareholder proposals that are illegal to implement, but the manner Elliott chose to proceed with avoided that review as Elliott submitted a proposal and solicited on its own proxy card
Elliott itself clearly realizes that an annual resignation requirement is not legal to implement, so Elliott keeps misleadingly suggesting that what it is asking for is simply voluntary. However, the plain text of Elliott’s proposal specifically asks the Board to adopt a policyrequiringour directors to resign each year
Implementing Elliott’s proposal would expose the Company to costly litigation and reputational risks and set a dangerous precedent for conveniently disregarding governing documents
Your Vote Matters
Phillips 66’s Board of Directors urges shareholders to use only the WHITE proxy card to vote:
“FOR” all four of the candidates proposed by the Company and not Elliott’s four nominees;
“FOR” management’s proposal to approve the declassification of the Board of Directors; and
“AGAINST” Elliott’s proposal requiring annual director resignations, which implementing would violate Delaware law and put your Board at significant legal and reputational risk
The Board strongly recommends that shareholders safeguard their investment in Phillips 66 by casting their vote as soon as possible, regardless of plans to attend the Annual Meeting virtually on May 21, 2025.
Shareholders may receive materials from Elliott Management that say “gold proxy card” or “gold voting instructions” or similar. Phillips 66 recommends that shareholders DISCARD any Gold voting materials they may receive from Elliott. Shareholders may cancel out any vote made using a Gold proxy card by voting again TODAY using the Company’s WHITE proxy card. Only the latest-dated vote will count.
About Phillips 66
Phillips 66 (NYSE: PSX) is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company’s portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the federal securities laws relating to Phillips 66’s operations, strategy and performance. Words such as “anticipated,” “committed,” “estimated,” “expected,” “planned,” “scheduled,” “targeted,” “believe,” “continue,” “intend,” “will,” “would,” “objective,” “goal,” “project,” “efforts,” “strategies,” and similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements included in this news release are based on management’s expectations, estimates and projections as of the date they are made. These statements are not guarantees of future events or performance, and you should not unduly rely on them as they involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include: changes in governmental policies or laws that relate to our operations, including regulations that seek to limit or restrict refining, marketing and midstream operations or regulate profits, pricing, or taxation of our products or feedstocks, or other regulations that restrict feedstock imports or product exports; our ability to timely obtain or maintain permits necessary for projects; fluctuations in NGL, crude oil, refined petroleum, renewable fuels and natural gas prices, and refining, marketing and petrochemical margins; the effects of any widespread public health crisis and its negative impact on commercial activity and demand for refined petroleum or renewable fuels products; changes to worldwide government policies relating to renewable fuels and greenhouse gas emissions that adversely affect programs including the renewable fuel standards program, low carbon fuel standards and tax credits for renewable fuels; potential liability from pending or future litigation; liability for remedial actions, including removal and reclamation obligations under existing or future environmental regulations; unexpected changes in costs for constructing, modifying or operating our facilities; our ability to successfully complete, or any material delay in the completion of, any asset disposition, acquisition, shutdown or conversion that we have announced or may pursue, including receipt of any necessary regulatory approvals or permits related thereto; unexpected difficulties in manufacturing, refining or transporting our products; the level and success of drilling and production volumes around our midstream assets; risks and uncertainties with respect to the actions of actual or potential competitive suppliers and transporters of refined petroleum products, renewable fuels or specialty products; lack of, or disruptions in, adequate and reliable transportation for our products; failure to complete construction of capital projects on time or within budget; our ability to comply with governmental regulations or make capital expenditures to maintain compliance with laws; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets, which may also impact our ability to repurchase shares and declare and pay dividends; potential disruption of our operations due to accidents, weather events, including as a result of climate change, acts of terrorism or cyberattacks; general domestic and international economic and political developments, including armed hostilities (such as the Russia-Ukraine war), expropriation of assets, and other diplomatic developments; international monetary conditions and exchange controls; changes in estimates or projections used to assess fair value of intangible assets, goodwill and property and equipment and/or strategic decisions with respect to our asset portfolio that cause impairment charges; investments required, or reduced demand for products, as a result of environmental rules and regulations; changes in tax, environmental and other laws and regulations (including alternative energy mandates); political and societal concerns about climate change that could result in changes to our business or increase expenditures, including litigation-related expenses; the operation, financing and distribution decisions of equity affiliates we do not control; and other economic, business, competitive and/or regulatory factors affecting Phillips 66’s businesses generally as set forth in our filings with the Securities and Exchange Commission. Phillips 66 is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Additional Information
On April 8, 2025, Phillips 66 filed a definitive proxy statement on Schedule 14A (the “Proxy Statement”) and accompanying WHITE proxy card with the U.S. Securities and Exchange Commission (the “SEC”) in connection with its 2025 Annual Meeting of Shareholders (the “2025 Annual Meeting”) and its solicitation of proxies for Phillips 66’s director nominees and for other matters to be voted on. This communication is not a substitute for the Proxy Statement or any other document that Phillips 66 has filed or may file with the SEC in connection with any solicitation by Phillips 66. PHILLIPS 66 SHAREHOLDERS ARE STRONGLY ENCOURAGED TO READ THE PROXY STATEMENT (AND ANY AMENDMENTS AND SUPPLEMENTS THERETO) AND ACCOMPANYING WHITE PROXY CARD AND ANY OTHER RELEVANT SOLICITATION MATERIALS FILED WITH THE SEC AS THEY CONTAIN IMPORTANT INFORMATION. Shareholders may obtain copies of the Proxy Statement, any amendments or supplements to the Proxy Statement and other documents (including the WHITE proxy card) filed by Phillips 66 with the SEC without charge from the SEC’s website at www.sec.gov. Copies of the documents filed by Phillips 66 with the SEC also may be obtained free of charge at Phillips 66’s investor relations website at https://investor.phillips66.com or upon written request sent to Phillips 66, 2331 CityWest Boulevard, Houston, TX 77042, Attention: Investor Relations.
Certain Information Regarding Participants
Phillips 66, its directors, its director nominees and certain of its executive officers and employees may be deemed to be participants in connection with the solicitation of proxies from Phillips 66 shareholders in connection with the matters to be considered at the 2025 Annual Meeting. Information regarding the names of such persons and their respective interests in Phillips 66, by securities holdings or otherwise, is available in the Proxy Statement, which was filed with the SEC on April 8, 2025, including in the sections captioned “Beneficial Ownership of Phillips 66 Securities” and “Appendix C: Supplemental Information Regarding Participants in the Solicitation.” To the extent that Phillips 66’s directors and executive officers who may be deemed to be participants in the solicitation have acquired or disposed of securities holdings since the applicable “as of” date disclosed in the Proxy Statement, such transactions have been or will be reflected on Statements of Changes in Ownership of Securities on Form 4 or Initial Statements of Beneficial Ownership of Securities on Form 3 filed with the SEC. These documents are or will be available free of charge at the SEC’s website at www.sec.gov.
Use of Non-GAAP Financial Information
Non-GAAP Measures—This news release includes non-GAAP financial measures, including, “adjusted EBITDA” and “refining adjusted controllable costs.” These are non-GAAP financial measures that are included to help facilitate comparisons of operating performance across periods and to help facilitate comparisons with other companies in our industry. Where applicable, these measures exclude items that do not reflect the core operating results of our businesses in the current period or other adjustments to reflect how management analyzes results. Reconciliations to, or further discussion of, the most comparable GAAP financial measures can be found within or at the end of the news release materials.
This news release also includes forward-looking non-GAAP financial measure estimates such as, but not limited to “adjusted EBITDA” and “refining adjusted controllable costs” which, as used in certain places herein, are forward looking non-GAAP financial measures. These forward-looking estimates or targets depend on future levels of revenues and/or expenses, including amounts that could be attributable to non-controlling interests or related joint ventures, which are not reasonably estimable at this time. Accordingly, reconciliations of these forward-looking non-GAAP financial measures to the nearest GAAP financial measure cannot be provided without unreasonable effort. Below are definitions of these non-GAAP measures and identification of the most directly comparable GAAP measure.
EBITDA is defined as estimated net income plus estimated net interest expense, income taxes, and depreciation and amortization. Adjusted EBITDA is defined as estimated EBITDA plus the proportional share of selected equity affiliates’ estimated net interest expense, income taxes, and depreciation and amortization less the portion of estimated adjusted EBITDA attributable to noncontrolling interests. Net income is the most directly comparable GAAP financial measure for the consolidated company and income before income taxes is the most directly comparable GAAP financial measure for operating segments. Refining adjusted controllable cost is the sum of operating and SG&A expenses forour Refining segment, plus our proportional share of operating and SG&A expenses of two refining equity affiliates that are reflected in equity earnings of affiliates. The per barrel amounts are based on total processed inputs, including our proportional share of processed inputs of an equity affiliate, for the respective period.
References in this news release to shareholder distributions and returns to shareholders refer to the sum of dividends paid to Phillips 66 stockholders and proceeds used by Phillips 66 to repurchase shares of its common stock. References in this news release to “synergies” or “dis-synergies” are supported by management’s estimates and assumptions. These estimates are derived from the Company’s internal projections and other relevant data. However, because these synergies or dis-synergies are not calculated in accordance with generally accepted accounting principles (GAAP), they cannot be directly reconciled to GAAP measures. The Company believes that these non-GAAP measures provide valuable insight into optimization benefits but cautions that such synergies or dis-synergies may not be realized in full or at all.
Basis of News release—Effective April 1, 2024, we changed the internal financial information reviewed by our chief executive officer to evaluate performance and allocate resources to our operating segments. This included changes in the composition of our operating segments, as well as measurement changes for certain activities between our operating segments. The primary effects of this realignment included establishment of a Renewable Fuels operating segment, which includes renewable fuels activities and assets historically reported in our Refining, Marketing and Specialties (M&S), and Midstream segments; change in method of allocating results for certain Gulf Coast distillate export activities from our M&S segment to our Refining segment; reclassification of certain crude oil and international clean products trading activities between our M&S segment and our Refining segment; and change in reporting of our investment in NOVONIX from our Midstream segment to Corporate and Other. Accordingly, prior period results have been recast for comparability.
1. Source: FactSet; market data as of March 31, 2025. Shown since June 30, 2022, one day prior to Mark Lashier’s appointment as CEO.
2. Calculated as the weighted average of Refining (CVI, DINO, DK, MPC, PBF, VLO), Midstream (OKE, TRGP, WMB), and Chemicals (DOW, LYB, WLK) Performance by Proxy Peers’ TSR based on the weighting of consensus NTM EBIDTA estimates for PSX’s segments.
3. Source: Company filings.
4. Excludes adjusted turnaround costs. Reconciliations of these non-GAAP financial measures to the most comparable GAAP financial measure can be found here.
5. Excluding adjusted turnaround expense, post-ceasing of operations at Los Angeles refinery.
6. For additional details, see Slide 16 of Investor Presentation.
7. Incremental Adjusted Cash Return on Capital Invested since 2021 calculated as $1.9 B of incremental Adjusted EBITDA from 2021 to Projected Post-EPIC NGL in 2024 divided by $10.6 B of capital invested ($0.4 B of cash used in the DCP restructuring with Enbridge, $3.8 B of cash used in the DCP acquisition, proportionate share of DCP’s debt and preferred equity outstanding as of June 30, 2023 of $2.9 B, $0.6 B of cash used in Pinnacle acquisition, $2.2 B, net of cash acquired, $2.7 B of Midstream growth + sustaining capital excluding acquisitions from 2021-2024, less $2.2 B of cash received from asset sales). For additional details, see Slide 19 of Investor Presentation. Reconciliations of these non-GAAP financial measures to the most comparable GAAP financial measure can be found here.
8. $50 MM attributable to CPChem and $450 MM attributable to Midstream operations.
9. Dividend CAGR calculated from initial dividend of $0.20 per share in 3Q 2012 to $1.15 per share in 4Q 2024.
10. See section titled “Background of the Solicitation” in the definitive proxy statement filed by Phillips 66 with the SEC for a detailed summary of our engagement with Elliott.
11. Source: Company filings, public filings.
12. Source: Deal Point Data, Reuters, FactSet, Financial Times, RBC Capital Markets.
In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC) on 28.04.2025, 13-40 (Moscow time), the values of the upper limit of the price corridor (up to 95.79) and the range of market risk assessment (up to 1031.78 rubles, equivalent to a rate of 10.0%) of the security RU000A0JWLU4 (RZhD-42 region) were changed.
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