Prime Minister Narendra Modi on Thursday expressed grief over the loss of lives in the tragic plane crash in Russia and offered his condolences to the families of the victims.
In a statement shared on X, PM Modi wrote, “Deeply saddened at the loss of lives in the tragic plane crash in Russia. Extend our deepest condolences to the families of the victims. We stand in solidarity with Russia and its people.”
His remarks came after a Russian An-24 aircraft, carrying 49 people including five children and six crew members, crashed in the mountainous Amur region on Thursday, killing all on board, according to local media reports.
The ill-fated flight, operated by the Siberia-based Angara Airlines, had departed from Blagoveshchensk and was en route to Tynda, near the Russia-China border, when it lost contact with air traffic controllers shortly before its scheduled landing.
According to Russia’s state news agency TASS, the aircraft reportedly caught fire mid-air and vanished from radar. Rescue helicopters later located the burning wreckage on a remote mountainside, approximately 16 kilometres from Tynda.
Officials from the Amur Centre for Civil Defence and Fire Safety confirmed that “no survivors were found when a Mi-8 search helicopter flew over the crash site.”
“The aircraft caught fire upon crashing,” a spokesperson said. “Rescue operations have been hampered by the extremely difficult terrain, as the crash site lies on a steep, inaccessible slope.”
The region’s dense taiga forests and swampy landscape further complicated rescue efforts.
Notably, the aircraft did not send any distress signals before disappearing, raising concerns over the cause of the incident.
Preliminary reports suggest the An-24 may have been attempting a second approach to land at Tynda Airport when it went off the radar.
A Rosaviatsia aircraft and multiple rescue teams were immediately dispatched after receiving the alert. Investigators from the Far Eastern Transport Prosecutor’s Office have launched a probe into the crash.
The cause of the accident remains unknown. Officials are expected to begin ground-based recovery operations and retrieve the black box once access to the site is possible.
HONG KONG, July 24, 2025 (GLOBE NEWSWIRE) — Garden Stage Limited (NASDAQ: GSIW) (“GSIW” or the “Company”), today announced that it has entered into a definitive agreement with several investors for the purchase and sale of an aggregate of 38,406,345 of the Company’s ordinary share, par value $0.0001 per share (the “Shares”) (or pre-funded warrants in lieu thereof) at a purchase price of $.11 per share in a registered direct offering. The purchase price for the pre-funded warrants is identical to the purchase price for Shares, less the exercise price of $0.001 per share.
The aggregate gross proceeds to the Company of this offering are expected to be approximately $4.2 million. The transaction is expected to close on or about July 25, 2025, subject to the satisfaction of customary closing conditions.
Univest Securities, LLC is acting as the sole placement agent.
The registered direct offering is being made pursuant to a shelf registration statement on Form F-3 (File No. 333-283618) previously filed by the Company and declared effective by the U.S. Securities and Exchange Commission (“SEC”) on March 10, 2025. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, by contacting Univest Securities, LLC at info@univest.us, or by calling +1 (212) 343-8888.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Copies of the prospectus supplement relating to the registered direct offering, together with the accompanying base prospectus will be filed by the Company and, upon filing, can be obtained at the SEC’s website at www.sec.gov.
About Garden Stage Limited
GSIW, through our Operating Subsidiaries, are a Hong Kong-based financial services provider principally engaged in the provision of (i) placing and underwriting services; (ii) securities dealing and brokerage services; (iii) asset management services; and (iv) investment advisory services. Our operation is carried out through our wholly-owned Operating Subsidiaries: a) I Win Securities Limited, which is licensed to conduct Type 1 (dealing in securities) regulated activities under the SFO in Hong Kong, and b) I Win Asset Management Limited, which is licensed to conduct Type 4 (advising on securities) and Type 9 (asset management) regulated activities under the SFO in Hong Kong. I Win Securities Limited is the Stock Exchange Participant and holds one Stock Exchange Trading Right. I Win Securities Limited is a participant of the HKSCC.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the U.S. Securities and Exchange Commission.
KOŠICE, Slovakia, July 24, 2025 (GLOBE NEWSWIRE) — Remittix, the new DeFi and low-gas-fee crypto innovation powerhouse, is unveiling the beta release timeline of its highly anticipated multi-chain crypto wallet, which will roll out in Q3 2025, in an exciting race to transform cross-border transactions.
In terms of accessibility, speed, and cost reductions for users worldwide, the Remittix Wallet will facilitate smooth interoperability with Ethereum, Solana, and other EVM chains – a significant advancement.
As the launch looms, enthusiasm among investors is sky high. Remittix token presale now stands at a remarkable $17 million, with over 563 million tokens sold to date. This momentum positions Remittix in the pole position for the next crypto breakout of 2025.
Seamless Multi-Chain Wallet Solution
The Beta Remittix Wallet has only one objective: easy global crypto transactions. From transferring stablecoins on Ethereum to staking SOL, and even token management between networks, the wallet presents industry-leading performance with very low gas fees.
Remittix Wallet beta release will allow early customers to:
Store, send, and receive tokens on Ethereum and Solana
This wallet is just part of Remittix’s broader ecosystem, hoping to disrupt the old remittance paradigm with fast, low-cost transactions that legacy platforms still can’t get right.
As more and more hype is building up for Cardano, Solana, and other higher-layer protocols, Remittix is moving in its own direction as a cross-chain DeFi utility with a laser-sharp focus on building markets. Its momentum is copying the early-stage signs of breakout tokens like ADA and SOL.
Bridging Crypto and Fiat in Real-World Economies
Beyond wallet capabilities, Remittix is building out infrastructure to connect the realm of decentralized finance to real-world economies on the planet with seamless fiat-to-crypto solutions.
While not included in the beta release, future versions of the Remittix Wallet will be built to allow users—especially in high-fee remittance regions—to exchange crypto directly into local currency.
This will enable users to:
Send USDT or other stablecoins cross-border
Have recipients cash them out with local partners
Reduce transaction fees on top of legacy banking infrastructure
Use real-world utility for daily spending and commercial use
The long-term vision is to give underbanked users in Africa, Southeast Asia, and Latin America access to fast, low-cost financial services without relying on outdated intermediaries.
How to Join the Remittix Presale
Crypto enthusiasts, traders, and DeFi supporters are not left out; they can all join the ongoing Remittix presale by visiting the official website. All participants get to enjoy early access to wallet features, bonus token redemption and a chance at the $250,000 Giveaway – a feature headline draw that gains thousands of users daily.
About Remittix
Remittix is a decentralized finance platform with a particular focus on low-gas-fee crypto cross-border payments, staking, and remittances. Through its utility token and multi-chain wallet infrastructure, Remittix seeks to make crypto faster, more inclusive, and more accessible to users all over the world.
Disclaimer:This content is provided byRemittix. 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. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.
Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.
Photos accompanying this announcement are available at
NEW DELHI, India, July 24, 2025 (GLOBE NEWSWIRE) — TransFi, a leading global payments infrastructure company, announces the expansion of its platform designed to power real-world adoption of stablecoins by enabling fast, secure, and compliant cross-border transactions. Operating in over 100 countries with support for more than 250 local payment methods and 40 currencies, TransFi bridges the gap between digital assets and everyday financial utility.
As emerging markets increasingly seek stable currency alternatives, the demand for dollar-backed stablecoins is accelerating. According to a recent study by the Centre for Economics and Business Research (Cebr), users in 17 countries are willing to pay an average premium of 4.7% for access to stable digital currencies, with this figure reaching as high as 30% in inflation-affected economies like Argentina. This growing demand is projected to amount to $25.4 billion in annual premium payments by 2027.
TransFi’s AI-powered smart routing engine optimizes the payment experience by identifying the fastest and most cost-efficient rails across both fiat and stablecoin networks. This innovation reduces settlement times from days to seconds, unlocking an estimated $2.9 billion in annual efficiency gains and addressing the $11.6 billion typically trapped in slow settlement systems.
“Our platform is built to meet the needs of a rapidly evolving financial landscape by combining speed, security, and compliance with the benefits of stablecoins,” said Rahul Sahni, COO & CPO of TransFi. “We’re proud to provide businesses and consumers with infrastructure that turns digital assets into practical financial tools.”
TransFi offers an enterprise-ready, regulation-compliant platform with built-in KYC and AML processes. Its key services include:
BizPay: Streamlined business payments with fast onboarding and low fees
Wallet: Multi-currency storage and conversion
Ramp: Instant crypto on/off-ramps via 250+ payment methods
Single API & Widget: Easy platform integration for businesses
Payouts & Collections: Comprehensive global payment infrastructure
The company’s solutions support a wide range of use cases, including remittances, payroll, digital banking, Web3, and iGaming, enabling businesses to scale with stablecoin-powered efficiency.
About TransFi TransFi is a global payments infrastructure company dedicated to bridging digital assets with real-world financial systems. With operations in over 100 countries, TransFi provides secure, compliant, and fast cross-border payment solutions, supporting 250+ local payment methods and 40+ currencies. Its AI-driven platform empowers businesses and individuals to seamlessly transact using both fiat and digital currencies.
Disclaimer: This content is provided byTransFi. 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.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.
Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.
CORPUS CHRISTI, Texas — A National Guard member deployed to South Texas to help secure the border was convicted of smuggling illegal aliens into the U.S. July 21. Findings of the smuggling were due to the combined investigation efforts of U.S. Immigration and Customs Enforcement Homeland Security Investigations Corpus Christi, the U.S. Department of Defense’s Office of the Inspector General Defense Criminal Investigative Service, and the U.S. Customs and Border Protection Office of Professional Responsibility.
Mario Sandoval, a 27-year-old resident of Houston, was found guilty of conspiring to smuggle illegal aliens at the end of a one-day trial in the U.S. District Court for the Southern District of Texas.
“Driven exclusively by greed, this individual betrayed the solemn oath he swore to defend when he enlisted in the National Guard,” said HSI Houston Special Agent in Charge Chad Plantz. “His actions directly undermined the very mission he was deployed to support and put his fellow guard members in danger. Working closely with our partners, we were able to expose his scheme and hold him accountable for this unconscionable betrayal of our nation’s trust.”
Sandoval was deployed to the U.S.-Mexico border with the Texas National Guard as part of Operation Lonestar. Following release from his orders, Sandoval remained in the Rio Grande Valley and began smuggling illegal aliens into the country in July 2024.
During his trial, the jury was provided with text messages from Sandoval’s phone expressing that drivers were needed for trips from the Rio Grande Valley to destinations north of the immigration checkpoint. Surveillance showed Sandoval’s location at the immigration checkpoint while he was sending text messages about law enforcement and K-9 patrol presence. The defense attempted to convince the jury no conspiracy existed, and his text messages were out of context. The Jury did not believe those claims and found Sandoval guilty as charged after deliberating for less than an hour.
“The conduct in this case represents an unthinkable violation of public trust,” said U.S. Attorney Nicholas J. Ganjei. “Thousands of brave men and women, military and civilian alike, work tirelessly to keep our border secure. It is truly disheartening that one bad apple chose to betray his fellow soldiers, his fellow citizens, and his country by engaging in human smuggling. I wish to thank the jury for their time and attention to this matter.”
Sandoval was discharged from the Texas National Guard in October 2024. He is scheduled to be sentenced Oct. 22. He faces up to 10 years in federal prison.
Assistant U.S. Attorneys John Lamont and Ashley Martin prosecuted the case.
For more news and information on how HSI Houston combats alien smuggling and other transnational criminal activity in Southeast Texas follow us on X at @HSIHouston.
TORONTO, July 24, 2025 (GLOBE NEWSWIRE) — (TSX: BAAA, BAAA.U) Brompton Wellington Square AAA CLO ETF announces distributions payable on August 15, 2025 to unitholders of record at the close of business on July 31, 2025 as follows:
Ticker
Amount Per Unit
BAAA
Cdn$0.08960
BAAA.U
US$0.08950
About Brompton Funds Founded in 2000, Brompton is an experienced investment fund manager with income and growth focused investment solutions including TSX traded closed-end funds and exchange-traded funds. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email info@bromptongroup.com or visit our website at www.bromptongroup.com.
About Wellington Square Wellington Square Advisors Inc. (“Wellington Square”) is a Toronto-based independent investment advisory led by portfolio managers Jeff Sujitno and Amar Dhanoya. Wellington Square has invested in CLOs for over 10 years with certain staff having specialized expertise gained from working for CLO managers.
Commissions, management fees and expenses all may be associated with exchange-traded fund investments. Please read the prospectus before investing. Exchange-traded funds are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the fund, to the future outlook of the fund and anticipated events or results and may include statements regarding the future financial performance of the fund. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.
TORONTO, July 24, 2025 (GLOBE NEWSWIRE) — (TSX: DGS, GDV, LBS, LCS, LCS.PR.A, PWI, SBC) – Brompton Funds announces distributions payable on August 15, 2025 to class A shareholders of record at the close of business on July 31, 2025 for each of the following funds:
Ticker
Amount Per Share
Dividend Growth Split Corp. (“DGS”)
DGS
$
0.10
Global Dividend Growth Split Corp. (“GDV”)
GDV
$
0.10
Life & Banc Split Corp. (“LBS”)
LBS
$
0.10
Brompton Lifeco Split Corp. (“LCS”)
LCS
$
0.075
Sustainable Power Infrastructure Split Corp. (“PWI”)
PWI
$
0.085
Brompton Split Banc Corp. (“SBC”)
SBC
$
0.10
Brompton Funds announces distributions payable on August 15, 2025 to preferred shareholders of record at the close of business on July 31, 2025 for the following fund:
Ticker
Amount Per Share
Brompton Lifeco Split Corp.
LCS.PR.A
$
0.175
The funds noted above offer distribution reinvestment plans (“DRIP”) for class A shareholders which provide class A shareholders with the ability to automatically reinvest distributions, commission free, and realize the benefits of compound growth. Class A shareholders can enroll in a DRIP program by contacting their investment advisor.
About Brompton Funds Founded in 2000, Brompton is an experienced investment fund manager with income and growth focused investment solutions including exchange-traded funds (ETFs) and other Toronto Stock Exchange (“TSX”) traded investment funds. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email info@bromptongroup.com or visit our website at www.bromptongroup.com.
You will usually pay brokerage fees to your dealer if you purchase or sell units or shares of the investment funds on the TSX or other alternative Canadian trading system (an “exchange”). If the units or shares are purchased or sold on an exchange, investors may pay more than the current net asset value when buying units of the investment fund and may receive less than the current net asset value when selling them.
There are ongoing fees and expenses associated with owning units or shares of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about a fund in the public filings available at www.sedarplus.ca. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements contained in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this document and to other matters identified in public filings relating to the funds, to the future outlook of the funds and anticipated events or results and may include statements regarding the future financial performance of the funds. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.
TORONTO, July 24, 2025 (GLOBE NEWSWIRE) — (TSX: BDIV, BEPR, BEPR.U, BLOV, BPRF, BPRF.U, HIG, HIG.U, SPLT) – Brompton Funds announces monthly distributions for record dates from July to September 2025 for each of the following exchange-traded funds (“ETFs”):
About Brompton Funds Founded in 2000, Brompton is an experienced investment fund manager with income and growth focused investment solutions including exchange-traded funds (ETFs) and other Toronto Stock Exchange traded investment funds. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email info@bromptongroup.com or visit our website at www.bromptongroup.com.
Commissions, trailing commissions, management fees and expenses all may be associated with exchange-traded fund investments. Please read the prospectus before investing. Exchange-traded funds are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements contained in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this document and to other matters identified in public filings relating to the ETFs, to the future outlook of the ETFs and anticipated events or results and may include statements regarding the future financial performance of the ETFs. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.
TORONTO, July 24, 2025 (GLOBE NEWSWIRE) — (TSX: BDIV, BEPR, BEPR.U, BLOV, BPRF, BPRF.U, HIG, HIG.U, SPLT) – Brompton Funds announces monthly distributions for record dates from July to September 2025 for each of the following exchange-traded funds (“ETFs”):
About Brompton Funds Founded in 2000, Brompton is an experienced investment fund manager with income and growth focused investment solutions including exchange-traded funds (ETFs) and other Toronto Stock Exchange traded investment funds. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email info@bromptongroup.com or visit our website at www.bromptongroup.com.
Commissions, trailing commissions, management fees and expenses all may be associated with exchange-traded fund investments. Please read the prospectus before investing. Exchange-traded funds are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements contained in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this document and to other matters identified in public filings relating to the ETFs, to the future outlook of the ETFs and anticipated events or results and may include statements regarding the future financial performance of the ETFs. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.
TORONTO, July 24, 2025 (GLOBE NEWSWIRE) — (TSX: BFIN, BFIN.U, BGIE, BMAX, CLSA, EDGF, TLF, TLF.U) – As a result of strong performance over the past year1, or NAV growth since launch in the case of CLSA, Brompton Funds is pleased to announce increased monthly distributions for record dates from July to September 2025 for each of the following exchange-traded funds (“ETFs”):
Ticker
Amount Per Unit
Annualized % Increase
Brompton North American Financials Dividend ETF
BFIN
Cdn$ 0.1300
8.3%
BFIN.U
US$ 0.1400
7.7%
Brompton Global Infrastructure ETF
BGIE
Cdn$ 0.1350
12.5%
Brompton Enhanced Multi-Asset Income ETF
BMAX
Cdn$ 0.1200
4.3%
Brompton Split Corp. Class A Share ETF
CLSA
Cdn$ 0.1150
15.0%
Brompton European Dividend Growth ETF
EDGF
Cdn$ 0.0575
9.5%
Brompton Tech Leaders Income ETF
TLF
Cdn$ 0.1450
16.0%
TLF.U
US$ 0.1550
19.2%
Record Dates and Payment Dates are as follows:
Record Date
Payment Date
July 31, 2025
August 15, 2025
August 29, 2025
September 15, 2025
September 30, 2025
October 15, 2025
About Brompton Funds Founded in 2000, Brompton is an experienced investment fund manager with income and growth focused investment solutions including exchange-traded funds (ETFs) and other TSX traded investment funds. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email info@bromptongroup.com or visit our website at www.bromptongroup.com.
1Annual Compound Returnsas at June 30,2025
1-year
3-year
5-year
10-year
Since Inception
Since Inception
Inception Date
BFIN
25.6%
16.5%
14.4%
–
9.2%
–
Oct. 17, 2018
BFIN.U
27.8%
17.0%
15.4%
–
–
11.4%
Aug. 8, 2019
BGIE
25.5%
15.4%
13.0%
–
13.4%
–
Apr. 30, 2020
BMAX
15.3%
–
–
–
17.1%
–
Oct. 18, 2022
EDGF
15.4%
14.2%
9.8%
–
7.6%
–
July 21, 2017
TLF
9.6%
25.4%
17.6%
17.0%
14.3%
–
May 20, 2011
TLF.U
12.0%
27.0%
19.0%
–
–
20.4%
Aug. 8, 2019
Returns are for the periods ended June 30, 2025 and are unaudited. Inception dates are noted in the table above. The table shows each ETF’s compound return for each period indicated. The performance information shown is based on net asset value per unit and assumes that cash distributions made by the ETFs on its units in the period shown were reinvested at net asset value per unit in additional units of the ETFs. Past performance does not necessarily indicate how the ETFs will perform in the future. Performance can only be provided for funds in existence for at least one year; therefore, the performance for Brompton Split Corp. Class A Share ETF is not available.
Commissions, trailing commissions, management fees and expenses all may be associated with exchange-traded fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Exchange-traded funds are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements contained in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this document and to other matters identified in public filings relating to the ETFs, to the future outlook of the ETFs and anticipated events or results and may include statements regarding the future financial performance of the ETFs. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.
TORONTO, July 24, 2025 (GLOBE NEWSWIRE) — (TSX: BFIN, BFIN.U, BGIE, BMAX, CLSA, EDGF, TLF, TLF.U) – As a result of strong performance over the past year1, or NAV growth since launch in the case of CLSA, Brompton Funds is pleased to announce increased monthly distributions for record dates from July to September 2025 for each of the following exchange-traded funds (“ETFs”):
Ticker
Amount Per Unit
Annualized % Increase
Brompton North American Financials Dividend ETF
BFIN
Cdn$ 0.1300
8.3%
BFIN.U
US$ 0.1400
7.7%
Brompton Global Infrastructure ETF
BGIE
Cdn$ 0.1350
12.5%
Brompton Enhanced Multi-Asset Income ETF
BMAX
Cdn$ 0.1200
4.3%
Brompton Split Corp. Class A Share ETF
CLSA
Cdn$ 0.1150
15.0%
Brompton European Dividend Growth ETF
EDGF
Cdn$ 0.0575
9.5%
Brompton Tech Leaders Income ETF
TLF
Cdn$ 0.1450
16.0%
TLF.U
US$ 0.1550
19.2%
Record Dates and Payment Dates are as follows:
Record Date
Payment Date
July 31, 2025
August 15, 2025
August 29, 2025
September 15, 2025
September 30, 2025
October 15, 2025
About Brompton Funds Founded in 2000, Brompton is an experienced investment fund manager with income and growth focused investment solutions including exchange-traded funds (ETFs) and other TSX traded investment funds. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email info@bromptongroup.com or visit our website at www.bromptongroup.com.
1Annual Compound Returnsas at June 30,2025
1-year
3-year
5-year
10-year
Since Inception
Since Inception
Inception Date
BFIN
25.6%
16.5%
14.4%
–
9.2%
–
Oct. 17, 2018
BFIN.U
27.8%
17.0%
15.4%
–
–
11.4%
Aug. 8, 2019
BGIE
25.5%
15.4%
13.0%
–
13.4%
–
Apr. 30, 2020
BMAX
15.3%
–
–
–
17.1%
–
Oct. 18, 2022
EDGF
15.4%
14.2%
9.8%
–
7.6%
–
July 21, 2017
TLF
9.6%
25.4%
17.6%
17.0%
14.3%
–
May 20, 2011
TLF.U
12.0%
27.0%
19.0%
–
–
20.4%
Aug. 8, 2019
Returns are for the periods ended June 30, 2025 and are unaudited. Inception dates are noted in the table above. The table shows each ETF’s compound return for each period indicated. The performance information shown is based on net asset value per unit and assumes that cash distributions made by the ETFs on its units in the period shown were reinvested at net asset value per unit in additional units of the ETFs. Past performance does not necessarily indicate how the ETFs will perform in the future. Performance can only be provided for funds in existence for at least one year; therefore, the performance for Brompton Split Corp. Class A Share ETF is not available.
Commissions, trailing commissions, management fees and expenses all may be associated with exchange-traded fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Exchange-traded funds are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements contained in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this document and to other matters identified in public filings relating to the ETFs, to the future outlook of the ETFs and anticipated events or results and may include statements regarding the future financial performance of the ETFs. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.
KUALA LUMPUR, Malaysia, July 24, 2025 (GLOBE NEWSWIRE) — Bitget, the world’s leading cryptocurrency exchange and Web3 company, participated in Malaysia Blockchain Week 2025, to strengthen its ties with Southeast Asia’s fast-growing digital economy. The event, hosted at Kuala Lumpur’s World Trade Centre, drew 3,300+ attendees from 20 countries, with support from Malaysian agencies like MDEC, the Ministry of Digital, and Tourism Malaysia.
Bitget CEO Gracy Chen delivered a keynote address titled “Two Strategies to Thrive in a Volatile Market.” She spotlighted Bitget’s focus on real-world utility, from its $300M user Protection Fund to new tools like GetAgent (an AI trading helper) and xStocks for tokenized equities. Gracy pointed to her 2024 MYBW visit as the turning point. This year, she unveiled PayFi, Bitget’s bid to simplify cross-border crypto payments in emerging markets.
Bitget CEO Gracy Chen delivering her keynote on the mainstage of MYBW 2025.
“Malaysia Blockchain Week has become a key platform in this region,” saidGracy Chen, CEO of Bitget.“Bitget will continue building here, through partnerships, localization, and product innovation. Our goal is to show up meaningfully, through utility, education, and experiences that resonate.”
Bitget also teamed up with Pudgy Penguins (PENGU) to host Hype Drop: Kopi Rave, a side event held at Thong Kee Kopitiam in Kuala Lumpur. Blending wellness, streetwear, music, and collectibles, it drew over 400 attendees and generated strong social media buzz.
Bitget Trivia winners with their various merch including the much-coveted Bitget Labubu doll.
Malaysia Blockchain Week 2025 served as a timely stage for Bitget to reinforce its global leadership while celebrating Southeast Asia’s role in Web3 adoption. From shaping cross-border payment infrastructure to pioneering real-world asset trading, Bitget’s message at MYBW was clear: building in this space is about more than innovation.
About Bitget
Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform.
Bitget is driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.
Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. In the world of motorsports, Bitget is the exclusive cryptocurrency exchange partner of MotoGP™, one of the world’s most thrilling championships.
Risk Warning:Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to ourTerms of Use.
Photos accompanying this announcement are available at:
KUALA LUMPUR, Malaysia, July 24, 2025 (GLOBE NEWSWIRE) — Bitget, the world’s leading cryptocurrency exchange and Web3 company, participated in Malaysia Blockchain Week 2025, to strengthen its ties with Southeast Asia’s fast-growing digital economy. The event, hosted at Kuala Lumpur’s World Trade Centre, drew 3,300+ attendees from 20 countries, with support from Malaysian agencies like MDEC, the Ministry of Digital, and Tourism Malaysia.
Bitget CEO Gracy Chen delivered a keynote address titled “Two Strategies to Thrive in a Volatile Market.” She spotlighted Bitget’s focus on real-world utility, from its $300M user Protection Fund to new tools like GetAgent (an AI trading helper) and xStocks for tokenized equities. Gracy pointed to her 2024 MYBW visit as the turning point. This year, she unveiled PayFi, Bitget’s bid to simplify cross-border crypto payments in emerging markets.
Bitget CEO Gracy Chen delivering her keynote on the mainstage of MYBW 2025.
“Malaysia Blockchain Week has become a key platform in this region,” saidGracy Chen, CEO of Bitget.“Bitget will continue building here, through partnerships, localization, and product innovation. Our goal is to show up meaningfully, through utility, education, and experiences that resonate.”
Bitget also teamed up with Pudgy Penguins (PENGU) to host Hype Drop: Kopi Rave, a side event held at Thong Kee Kopitiam in Kuala Lumpur. Blending wellness, streetwear, music, and collectibles, it drew over 400 attendees and generated strong social media buzz.
Bitget Trivia winners with their various merch including the much-coveted Bitget Labubu doll.
Malaysia Blockchain Week 2025 served as a timely stage for Bitget to reinforce its global leadership while celebrating Southeast Asia’s role in Web3 adoption. From shaping cross-border payment infrastructure to pioneering real-world asset trading, Bitget’s message at MYBW was clear: building in this space is about more than innovation.
About Bitget
Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform.
Bitget is driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.
Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. In the world of motorsports, Bitget is the exclusive cryptocurrency exchange partner of MotoGP™, one of the world’s most thrilling championships.
Risk Warning:Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to ourTerms of Use.
Photos accompanying this announcement are available at:
Fannie Mae and Freddie Mac were chartered in 1938 and 1970, respectively, as government-sponsored enterprises (GSEs) to ensure a stable supply of credit for mortgages nationwide. Government-sponsored enterprises are private companies created by federal law to fulfill a specific purpose. In the case of Fannie Mae and Freddie Mac, that purpose is to facilitate the flow of funding for home loans by purchasing mortgages from lenders, pooling them into mortgage-backed securities (MBSs), and selling the securities to investors along with a guarantee against most losses from defaults on the underlying loans.
After operating independently for decades, the two GSEs were placed in federal conservatorships in 2008. Since then, they have been controlled by the Federal Housing Finance Agency (FHFA) and effectively owned by the Department of the Treasury. In January 2025, the FHFA announced that it will seek comments on options to end the GSEs’ conservatorships.
This report addresses seven key issues that might arise as the Congressional Budget Office estimates the budgetary effects of potential legislation or administrative actions that could result in selling the Treasury’s ownership stake in the GSEs and releasing them from government control. In keeping with its standard practices, CBO assesses the federal budgetary and economic effects of proposed policies but does not make policy recommendations.
PENSACOLA, FLORIDA –Crescencio Diaz-Diaz, 36, and Marcelo Perez-Santiz, 33, both of the country of Mexico, have been charged in federal court with illegal reentry of a removed alien. Diaz-Diaz has additionally been charged with possession and use of fraudulent employment authorization documents. The charges were announced by John P. Heekin, United States Attorney for the Northern District of Florida.
Court documents allege that Crescencio Diaz-Diaz reentered the United States illegally after being previously deported in 2020. He was encountered by federal agents during the execution of federal criminal search warrants at a Navarre business, Emerald Coast Lawns, and an adjacent residence yesterday. During the search, agents seized a fraudulent permanent resident card (sometimes referred to as a “green card”) and social security card bearing Diaz-Diaz’s name and/or photograph but another person’s identifying information, which Diaz-Diaz allegedly admitted he presented to Emerald Coast Lawns in order to gain employment.
Separate court documents allege that Marcelo Perez-Santiz reentered the United States illegally after being previously deported on three separate occasions in 2012 and had been found at the business address for Emerald Coast Lawns back in February. Perez-Santiz was arrested yesterday on a criminal complaint and had an initial appearance before United States Magistrate Judge Zachary C. Bolitho.
The penalty for illegally reentering the United States after deportation is a maximum of two years in prison and a $250,000 fine.
The cases are being investigated by U.S. Immigration and Customs Enforcement’s Homeland Security Investigations and Enforcement and Removal Operations with assistance from the Federal Bureau of Investigations, the Bureau of Alcohol, Tobacco, Firearms, and Explosives, Florida Highway Patrol, United States Marshals Service and the Santa Rosa County Sheriff’s Office. The cases are being prosecuted by Assistant United States Attorney Alicia H. Forbes.
This case is part of Operation Take Back America (https://www.justice.gov/dag/media/1393746/dl?inline ) a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).
A criminal complaint is merely an allegation by a sworn affiant that a defendant has committed a violation of federal criminal law and is not evidence of guilt. All defendants are presumed innocent and entitled to due process, to include a fair trial, during which it is the government’s burden to prove guilt beyond a reasonable doubt at trial.
The United States Attorney’s Office for the Northern District of Florida is one of 94 offices that serve as the nation’s principal litigators under the direction of the Attorney General. To access public court documents online, please visit the U.S. District Court for the Northern District of Florida website. For more information about the United States Attorney’s Office, Northern District of Florida, visit http://www.justice.gov/usao/fln/index.html.
KANSAS CITY, Mo. – On July 17, 2025, the United States Attorney’s Office obtained a temporary restraining order against the unidentified foreign operators of a fraudulent online cryptocurrency investment platform called “Triangular.” The order resulted in the suspension of online access to two websites used to access the platform.
The United States also filed a civil forfeiture complaint in the U.S. District Court for the Western District of Missouri against more than $325,000 in cryptocurrency seized from two addresses linked to the scam. According to the complaint, the FBI used blockchain analysis and other investigative techniques to determine that the cryptocurrency is connected to the theft and laundering of funds from victims of the Triangular investment fraud scheme.
The complaint alleges that between July and October 2024, the two cryptocurrency addresses were used to launder millions of dollars in suspected scam proceeds. The complaint further alleges that a victim located in the Western District of Missouri lost more than $16 million to the fake Triangular investment platform.
The scammers involved in this scheme lured victims through unsolicited messages on social media sites like LinkedIn. Once a relationship formed, the scammers introduced the victims to the fraudulent Triangular platform and made promises of immense investment gain with little to no risk of loss. After the victims made an initial investment through the sophisticated-looking platform, the scammers manipulated the victims’ account to appear to show exponential investment returns and encouraged victims to transfer more cryptocurrency. But when victims tried to withdraw their profit, they were told they needed to pay more in false withdrawal fees or “taxes.” The victims never recovered their money.
Commonly referred to as a cryptocurrency confidence scam, fake investment schemes like Triangular cost Americans billions of dollars every year, according to the FBI Internet Crime Complaint Center’s 2024 Internet Crime Report.
If you believe you are a victim of a cryptocurrency investment fraud or other cyber-enabled crime, report the fraud to the FBI Internet Crime Complaint Center at https://www.ic3.gov, your local law enforcement agency, and the Federal Trade Commission at https://reportfraud.ftc.gov.
The claims in the United States’ civil complaints are only allegations. The preliminary injunction hearing is scheduled for August 6, 2025, before U.S. District Judge Brian C. Wimes. The case is United States v. John Doe, No. 4:25-cv-00529-BCW.
This investigation is being handled by the Federal Bureau of Investigation Kansas City Field Office. The civil cases are being handled by Assistant U.S. Attorney John Constance. The Department of Justice would like to acknowledge Tether for its assistance in effectuating the transfer of these assets
SPRINGFIELD, Mo. – A Springfield, Mo., man was sentenced in federal court today for illegally possessing a firearm.
Joseph Archer III, 43, was sentenced by U.S. District Judge Beth Phillips to 96 months in federal prison without parole.
On Oct. 29, 2024, Archer pleaded guilty to being a felon in possession of a firearm.
On June 29, 2023, officers with the Springfield Police Department attempted to stop a Toyota Camry that was being driven by Archer. Archer fled from officers, leading them on a vehicle pursuit. During the pursuit Archer crashed into an officer’s vehicle, disabling the police vehicle, and causing the officer to suffer minor injuries. As a result of that crash, Archer briefly lost control of his car before continuing to flee. The pursuit ended when Archer crashed the Camry into an outbuilding. Archer fled the scene of the crash on foot before the officers arrived. When officers searched the Camry, they located a stolen Taurus PT handgun. They also located a box of ammunition, fentanyl, methamphetamine, mail addressed to Archer, and his Missouri Department of Corrections ID in the glove box.
Under federal law, it is illegal for anyone who is convicted of a felony to be in possession of any firearm or ammunition. Archer has prior felony convictions for conspiracy to distribute cocaine and possession of a firearm during a drug trafficking crime.
This case was prosecuted by Assistant U.S. Attorney Stephanie L. Wan. It was investigated by the Federal Bureau of Investigation, the Bureau of Alcohol, Tobacco, Firearms and Explosives, and the Springfield, Mo., Police Department.
Project Safe Neighborhoods
This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.
Operation Grayskull Eradicated Four Dark Web Child Abuse Sites and Led to the Convictions of 18 Offenders to Date, Who Have Collectively Received More than 300 Years in Prison
Today, the Justice Department announced the results of Operation Grayskull, a highly successful joint effort between the Department of Justice and the FBI that resulted in the dismantling of four dark web sites dedicated to images and videos containing child sexual abuse material (CSAM). To date, the operation has led to the convictions of 18 offenders, including a Minnesota man who was sentenced yesterday to 250 months in prison and lifetime supervised release for his involvement with one of these dark web sites. He was also ordered to pay $23,000 in restitution.
“Today’s announcement sends a clear warning to those who exploit and abuse children: you will not find safe haven, even on the dark web,” said Acting Assistant Attorney General Matthew R. Galeotti of the Justice Department’s Criminal Division. “These offenders thought that they could act without consequences, but they were wrong. Thanks to the relentless determination of our prosecutors and law enforcement partners we have exposed these perpetrators for who they are, eliminated their websites and brought justice to countless victims.”
“This operation represents one of the most significant strikes ever made against online child exploitation networks,” said FBI Director Kash Patel. “We’ve not only dismantled dangerous platforms on the dark web, but we’ve also brought key perpetrators to justice and delivered a powerful message: you cannot hide behind anonymity to harm children.”
“Yesterday’s sentencing reaffirms our steadfast commitment to protecting our children, the most vulnerable among us, from those who exploit and harm them through the despicable trade in child sexual abuse material,” said U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida. “Thomas Peter Katsampes and his co-conspirators ran some of the darkweb’s most heinous networks, enabling horrific crimes against innocent victims, but Operation Grayskull has shut these sites down and delivered justice. We applaud the FBI and our international partners for their tireless work, and let this be a clear warning: we will relentlessly pursue and prosecute anyone engaged in such atrocities, no matter how they attempt to cover their tracks.”
Thomas Peter Katsampes, 52, of Eagan, Minnesota, pleaded guilty to conspiracy to advertise and conspiracy to distribute child pornography on Feb. 27. According to court documents, Katsampes joined a dark web site dedicated to CSAM in 2022, advertised and distributed CSAM over the website, including CSAM depicting prepubescent children, and eventually worked his way up to a staff position on the web site, which, among other things, involved moderating the site, enforcing the site’s rules for posting CSAM, and advising the site’s users about how to post CSAM.
In addition to Katsampes, eight individuals have been convicted and sentenced in the Southern District of Florida for their involvement in running the primary site targeted by Operation Grayskull.
Defendant
Residence
Case Status
Selwyn David Rosenstein
Boynton Beach, Florida
Pleaded guilty to conspiracy to advertise child pornography, five counts of advertisement of child pornography, and possession of child pornography.
Sentenced on Dec. 12, 2022, to 28 years in prison and ordered to pay $80,500 in restitution to victims of his offense.
Matthew Branden Garrell
Raleigh, North Carolina
Pleaded guilty to conspiracy to advertise child pornography and conspiracy to distribute child pornography.
Sentenced on Aug. 1, 2023, to 20 years and 10 months in prison and ordered to pay $158,500 in restitution to victims of his offense.
Robert Preston Boyles
Clarksville, Tennessee
Pleaded guilty to conspiracy to advertise child pornography and conspiracy to distribute child pornography.
Sentenced on Aug. 15, 2023, to 23 years and four months in prison and ordered to pay $7,500 in restitution to victims of his offense.
Gregory Malcolm Good
Silver Springs, Nevada
Pleaded guilty to conspiracy to advertise child pornography and conspiracy to distribute child pornography.
Sentenced on Aug. 22, 2023, to 25 years and 10 months in prison and ordered to pay $93,500 in restitution to victims of his offense.
William Michael Spearman
Madison, Alabama
Pleaded guilty to engaging in a child exploitation enterprise.
Sentenced on Jan. 23, 2024, to life in prison and ordered to pay $123,400 in restitution to victims of his offense.
Joseph Addison Martin
Tahuya, Washington
Pleaded guilty to engaging in a child exploitation enterprise.
Sentenced on April 18, 2024, to 42 years in prison and ordered to pay $174,500 in restitution to victims of his offense.
Joseph Robert Stewart
Milton, Washington
Pleaded guilty to conspiracy to advertise child pornography and conspiracy to distribute child pornography.
Sentenced on April 18, 2024, to 23 years and 9 months in prison and ordered to pay $19,500 in restitution to victims of his offense.
Keith David McIntosh
Grand Rapids, Michigan
Pleaded guilty to conspiracy to advertise child pornography and conspiracy to distribute child pornography, both as a person with a prior conviction for possession of child pornography.
Sentenced on Dec. 19, 2024, to 55 years in prison.
The website’s leaders advertised and distributed CSAM, promulgated rules for the website, enforced the rules by banning or scolding users who violated them, held staff meetings, recruited members to serve as staff members, recommended users for promotion, edited and deleted user posts, praised individuals for participating in and contributing to the website, kept records of CSAM posts made by individual members, and paid for and maintained the website servers, among other things.
Operation Grayskull resulted in the dismantling of a total of four sites dedicated to images and videos depicting child sexual abuse. These websites were some of the most egregious on the dark web, and they included sections specifically dedicated to infants and toddlers, as well as depictions of violence, sadism, and torture. The websites also contained detailed advice on how to avoid detection by law enforcement – for example, by using sophisticated technologies.
In other judicial districts around the country, nine additional individuals have been convicted for their involvement with these websites, including the following:
Charles Hand, of Aberdeen, Maryland, was prosecuted in the District of Maryland and was sentenced to 14 years in federal prison;
Michael Ibarra, of Wenatchee, Washington, was prosecuted in the Eastern District of Washington and was sentenced to 12 years in prison;
Clay Trimble, of Fordyce, Arkansas, was prosecuted in the Eastern District of Arkansas and was sentenced to 18 years in prison;
David Craig, of Houston, Texas, was prosecuted in the Southern District of Texas and was sentenced to nine years in prison;
Robert Rella of Chesapeake, Virginia, was prosecuted in the Eastern District of Virginia and was sentenced to five years and eight months in prison;
Samuel Hicks, of Fort Wayne, Indiana, was prosecuted in the Northern District of Indiana and was sentenced to 16 years in prison;
Richard Smith of Dallas, Texas, was prosecuted in the Eastern District of Texas and was sentenced to 14 years in prison;
Patrick Harrison, of Grand Rapids, Michigan, was prosecuted in the Western District of Michigan and was sentenced to five years and ten months in prison.
Thomas Gailus, of Webbers Falls, Oklahoma, was prosecuted in the Eastern District of Oklahoma, and his sentencing is pending.
Two other individuals in the United States died before being charged for their involvement with the websites. The operation also resulted in arrests in the United Kingdom, the Netherlands, Italy, Germany, Estonia, Belgium, and South Africa.
The FBI’s Child Exploitation Operational Unit and Miami Field Office, West Palm Beach Resident Agency investigated the cases.
Acting Deputy Chief Kyle P. Reynolds and Trial Attorney William G. Clayman of the Justice Department’s Child Exploitation and Obscenity Section (CEOS) and former Assistant U.S. Attorney Gregory Schiller of the Southern District of Florida coordinated the operation and prosecuted the defendants in the Southern District of Florida.
Substantial assistance for the cases prosected in the Southern District of Florida was provided by FBI Field Offices and Resident Agencies in Huntsville, Alabama; Reno, Nevada; Clarksville, Tennessee; Raleigh, North Carolina; Madison, Wisconsin; Tacoma, Washington; Grand Rapids, Michigan; and Minneapolis, Minnesota; CEOS’s High Technology Investigative Unit; and the U.S. Attorney’s Offices for the Northern District of Alabama, District of Nevada, Middle District of Tennessee, Eastern District of North Carolina, Western District of Wisconsin, Western District of Washington, Western District of Michigan, and District of Minnesota.
This case was brought as part of Project Safe Childhood, a nationwide initiative launched in May 2006 by the Department of Justice to combat the growing epidemic of child sexual exploitation and abuse. Led by U.S. Attorneys’ Offices and CEOS, Project Safe Childhood marshals federal, state and local resources to better locate, apprehend and prosecute individuals who exploit children via the Internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, please visit www.justice.gov/psc.
Operation Grayskull Eradicated Four Dark Web Child Abuse Sites and Led to the Convictions of 18 Offenders to Date, Who Have Collectively Received More than 300 Years in Prison
Today, the Justice Department announced the results of Operation Grayskull, a highly successful joint effort between the Department of Justice and the FBI that resulted in the dismantling of four dark web sites dedicated to images and videos containing child sexual abuse material (CSAM). To date, the operation has led to the convictions of 18 offenders, including a Minnesota man who was sentenced yesterday to 250 months in prison and lifetime supervised release for his involvement with one of these dark web sites. He was also ordered to pay $23,000 in restitution.
“Today’s announcement sends a clear warning to those who exploit and abuse children: you will not find safe haven, even on the dark web,” said Acting Assistant Attorney General Matthew R. Galeotti of the Justice Department’s Criminal Division. “These offenders thought that they could act without consequences, but they were wrong. Thanks to the relentless determination of our prosecutors and law enforcement partners we have exposed these perpetrators for who they are, eliminated their websites and brought justice to countless victims.”
“This operation represents one of the most significant strikes ever made against online child exploitation networks,” said FBI Director Kash Patel. “We’ve not only dismantled dangerous platforms on the dark web, but we’ve also brought key perpetrators to justice and delivered a powerful message: you cannot hide behind anonymity to harm children.”
“Yesterday’s sentencing reaffirms our steadfast commitment to protecting our children, the most vulnerable among us, from those who exploit and harm them through the despicable trade in child sexual abuse material,” said U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida. “Thomas Peter Katsampes and his co-conspirators ran some of the darkweb’s most heinous networks, enabling horrific crimes against innocent victims, but Operation Grayskull has shut these sites down and delivered justice. We applaud the FBI and our international partners for their tireless work, and let this be a clear warning: we will relentlessly pursue and prosecute anyone engaged in such atrocities, no matter how they attempt to cover their tracks.”
Thomas Peter Katsampes, 52, of Eagan, Minnesota, pleaded guilty to conspiracy to advertise and conspiracy to distribute child pornography on Feb. 27. According to court documents, Katsampes joined a dark web site dedicated to CSAM in 2022, advertised and distributed CSAM over the website, including CSAM depicting prepubescent children, and eventually worked his way up to a staff position on the web site, which, among other things, involved moderating the site, enforcing the site’s rules for posting CSAM, and advising the site’s users about how to post CSAM.
In addition to Katsampes, eight individuals have been convicted and sentenced in the Southern District of Florida for their involvement in running the primary site targeted by Operation Grayskull.
Defendant
Residence
Case Status
Selwyn David Rosenstein
Boynton Beach, Florida
Pleaded guilty to conspiracy to advertise child pornography, five counts of advertisement of child pornography, and possession of child pornography.
Sentenced on Dec. 12, 2022, to 28 years in prison and ordered to pay $80,500 in restitution to victims of his offense.
Matthew Branden Garrell
Raleigh, North Carolina
Pleaded guilty to conspiracy to advertise child pornography and conspiracy to distribute child pornography.
Sentenced on Aug. 1, 2023, to 20 years and 10 months in prison and ordered to pay $158,500 in restitution to victims of his offense.
Robert Preston Boyles
Clarksville, Tennessee
Pleaded guilty to conspiracy to advertise child pornography and conspiracy to distribute child pornography.
Sentenced on Aug. 15, 2023, to 23 years and four months in prison and ordered to pay $7,500 in restitution to victims of his offense.
Gregory Malcolm Good
Silver Springs, Nevada
Pleaded guilty to conspiracy to advertise child pornography and conspiracy to distribute child pornography.
Sentenced on Aug. 22, 2023, to 25 years and 10 months in prison and ordered to pay $93,500 in restitution to victims of his offense.
William Michael Spearman
Madison, Alabama
Pleaded guilty to engaging in a child exploitation enterprise.
Sentenced on Jan. 23, 2024, to life in prison and ordered to pay $123,400 in restitution to victims of his offense.
Joseph Addison Martin
Tahuya, Washington
Pleaded guilty to engaging in a child exploitation enterprise.
Sentenced on April 18, 2024, to 42 years in prison and ordered to pay $174,500 in restitution to victims of his offense.
Joseph Robert Stewart
Milton, Washington
Pleaded guilty to conspiracy to advertise child pornography and conspiracy to distribute child pornography.
Sentenced on April 18, 2024, to 23 years and 9 months in prison and ordered to pay $19,500 in restitution to victims of his offense.
Keith David McIntosh
Grand Rapids, Michigan
Pleaded guilty to conspiracy to advertise child pornography and conspiracy to distribute child pornography, both as a person with a prior conviction for possession of child pornography.
Sentenced on Dec. 19, 2024, to 55 years in prison.
The website’s leaders advertised and distributed CSAM, promulgated rules for the website, enforced the rules by banning or scolding users who violated them, held staff meetings, recruited members to serve as staff members, recommended users for promotion, edited and deleted user posts, praised individuals for participating in and contributing to the website, kept records of CSAM posts made by individual members, and paid for and maintained the website servers, among other things.
Operation Grayskull resulted in the dismantling of a total of four sites dedicated to images and videos depicting child sexual abuse. These websites were some of the most egregious on the dark web, and they included sections specifically dedicated to infants and toddlers, as well as depictions of violence, sadism, and torture. The websites also contained detailed advice on how to avoid detection by law enforcement – for example, by using sophisticated technologies.
In other judicial districts around the country, nine additional individuals have been convicted for their involvement with these websites, including the following:
Charles Hand, of Aberdeen, Maryland, was prosecuted in the District of Maryland and was sentenced to 14 years in federal prison;
Michael Ibarra, of Wenatchee, Washington, was prosecuted in the Eastern District of Washington and was sentenced to 12 years in prison;
Clay Trimble, of Fordyce, Arkansas, was prosecuted in the Eastern District of Arkansas and was sentenced to 18 years in prison;
David Craig, of Houston, Texas, was prosecuted in the Southern District of Texas and was sentenced to nine years in prison;
Robert Rella of Chesapeake, Virginia, was prosecuted in the Eastern District of Virginia and was sentenced to five years and eight months in prison;
Samuel Hicks, of Fort Wayne, Indiana, was prosecuted in the Northern District of Indiana and was sentenced to 16 years in prison;
Richard Smith of Dallas, Texas, was prosecuted in the Eastern District of Texas and was sentenced to 14 years in prison;
Patrick Harrison, of Grand Rapids, Michigan, was prosecuted in the Western District of Michigan and was sentenced to five years and ten months in prison.
Thomas Gailus, of Webbers Falls, Oklahoma, was prosecuted in the Eastern District of Oklahoma, and his sentencing is pending.
Two other individuals in the United States died before being charged for their involvement with the websites. The operation also resulted in arrests in the United Kingdom, the Netherlands, Italy, Germany, Estonia, Belgium, and South Africa.
The FBI’s Child Exploitation Operational Unit and Miami Field Office, West Palm Beach Resident Agency investigated the cases.
Acting Deputy Chief Kyle P. Reynolds and Trial Attorney William G. Clayman of the Justice Department’s Child Exploitation and Obscenity Section (CEOS) and former Assistant U.S. Attorney Gregory Schiller of the Southern District of Florida coordinated the operation and prosecuted the defendants in the Southern District of Florida.
Substantial assistance for the cases prosected in the Southern District of Florida was provided by FBI Field Offices and Resident Agencies in Huntsville, Alabama; Reno, Nevada; Clarksville, Tennessee; Raleigh, North Carolina; Madison, Wisconsin; Tacoma, Washington; Grand Rapids, Michigan; and Minneapolis, Minnesota; CEOS’s High Technology Investigative Unit; and the U.S. Attorney’s Offices for the Northern District of Alabama, District of Nevada, Middle District of Tennessee, Eastern District of North Carolina, Western District of Wisconsin, Western District of Washington, Western District of Michigan, and District of Minnesota.
This case was brought as part of Project Safe Childhood, a nationwide initiative launched in May 2006 by the Department of Justice to combat the growing epidemic of child sexual exploitation and abuse. Led by U.S. Attorneys’ Offices and CEOS, Project Safe Childhood marshals federal, state and local resources to better locate, apprehend and prosecute individuals who exploit children via the Internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, please visit www.justice.gov/psc.
Headline: Fabric Real-Time Intelligence can turn raw signals into actionable insights, without writing complex code
How Contoso uses MQTT sensors, public weather feeds and Fabric Real-Time Intelligence to monitor smart buildings.
Jointly authored by Alicia Li and Arindam Chatterjee
Why Real-Time Stream Processing Matters
In the age of AI, as organizations embrace intelligent systems and data-driven decision-making, the ability to act on data the moment it arrives is unlocking new levels of agility and insight. From anomaly detection and operational optimization to fraud prevention and personalized experiences, real-time insights are powering the next wave of innovation. For forward-looking businesses, real-time stream processing has become a foundational capability.
In this post, we’ll explore how Contoso, a smart building operator, uses Microsoft Fabric’s Real-Time Intelligence to build a streaming data platform that connects room sensors, weather feeds, and alerting systems.
Architecture Overview
Each Contoso-operated building is equipped with room sensors that stream temperature and occupancy data to an MQTT broker. To enrich this data, Contoso also ingests a public weather feed, enabling correlation between indoor and outdoor conditions. These real-time signals drive smarter energy use, improve occupant comfort, and enable timely responses to environmental changes.
Figure 1: (End to End Data Platform Architecture)
As demonstrated in Figure 1., these real-time signals flow through Microsoft Fabric’s Real-Time Intelligence stack — from ingestion to transformation, alerting, and visualization. The architecture includes:
Eventstream for ingesting MQTT and weather data.
No-code and SQL operators for shaping the data.
Data Activator for triggering alerts.
Eventhouse for storing and analyzing the time-series data.
Real-time Dashboards for monitoring up-to date-trends, anomalies etc.
In the following sections, we will walk through the implementation of each stage of the architecture.
Can’t wait to learn more? Check out the full walkthrough demo video.
Step 1: Ingest Data with Eventstream
Contoso’s real-time journey begins with data — lots of it. Each building streams temperature and occupancy readings from room sensors to an MQTT broker. To make smarter decisions, Contoso enriches these signals with real-time weather data from Azure Maps, enabling them to correlate indoor conditions with the outdoor environment. This combination helps optimize HVAC usage, detect anomalous readings, anticipate comfort issues, and respond proactively — not reactively.
Microsoft Fabric’s Real-Time Hub makes this easy. With built-in connectors for MQTT and Azure Maps Weather, Contoso can ingest diverse data streams in just a few clicks.
Open Real-Time hub and click ‘connect data source’.
Select MQTT connector and connect
Create a new connection and fill in the topic name.
Enter Eventstream Edit mode.
Select ‘Add Source’ and ‘Connect data sources.
Select Weather Data connector
Choose the Location (e.g. London)
Enable multiple schema inference feature from the Eventstreams Settings page.
Navigate to Data preview on Default Stream:
Select Multiple Schema drop down.
Each schema is automatically inferred from the incoming data. You can switch to different schemas to review the details.
Step 2: Process & Transform Streaming Data with No-Code and SQL Operators
Once data starts to flow into a Fabric Eventstream, the next step is to shape it into a usable format. Raw sensor and weather data often needs filtering, renaming, or enrichment before it’s ready for alerts or dashboards. For Contoso, this means extracting just the fields they care about and re-shaping the data to conform to a common data model e.g. temperatures reported in Celsius instead of Fahrenheit etc.
Fabric makes this easy with built-in transformation tools. You can use no-code operators for quick filtering and shaping, or switch to SQL for more advanced logic — all within the same Eventstream canvas.
Click + Add Transformation on the Eventstream canvas (Edit)
Use visual transformations to select fields, rename columns, and change data types.
Use SQL | Edit Query to author & test queries
Send results to a Eventhouse table by connecting the SQL operator with an Eventhouse destination and finishing the Eventhouse configuration.
Using the steps we covered, Contoso can quickly build and test a complex streaming data pipeline as demonstrated in Figure 2.
Figure 2 (Eventstream topology to process MQTT & Weather data)
Step 3: Act on Streaming Data – Alerts & Real-time Dashboards
Once the sensor and weather data are ingested, processed and transformed, the next step is to act on it. In some cases, that means triggering real-time alerts when conditions exceed thresholds—like a room temperature rising above 100°F or occupancy crossing 50 people. In others, it means visualizing trends across buildings to support operational decisions. Whether it’s automated responses or human-in-the-loop monitoring, the value of streaming data comes from how quickly and clearly it drives action.
Fabric Real-Time Intelligence supports both modes of action—event-driven automation with Data Activator and real-time observability using Eventhouse Real-Time Dashboards. With Data Activator, Contoso is able to define alert conditions directly on streaming data and trigger notifications or workflows without writing code. With Eventhouse and Real-Time Dashboards, they can build live dashboards that reflect current conditions across their buildings—in real-time.
Set Alerts or Trigger Actions by adding Data Activator as a destination for the Eventstream
Define alert conditions and configure actions (e.g., Teams notifications, Emails, Notebooks)
Send data to Eventhouse and build a Real-Time Dashboard.
Use visual queries and enable auto-refresh to keep insights live.
Conclusion
Contoso’s journey shows how Fabric Real-Time Intelligence can turn raw signals into actionable insights — without writing complex code or stitching together multiple tools. From ingesting MQTT and weather data to triggering alerts and powering live dashboards, Fabric offers a unified, low-friction path to building intelligent, event-driven applications.
This approach is not limited to smart buildings; the ingest, transform, act design pattern is applicable in various industries:
Manufacturing: Monitor equipment health and trigger maintenance alerts.
Retail: Track foot traffic and optimize staffing in real time.
Logistics: Combine GPS and weather data to reroute deliveries.
Finance: Detect fraud patterns as transactions stream in.
Whether you’re managing a factory floor, a logistics network, or a digital storefront, the formula is the same: Stream it. Shape it. Act on it.
Now it’s your turn — explore what’s possible when your streaming data becomes your co-pilot.
Please refer to the following links for detailed configuration guidance:
We’d Love Your Feedback!
Feel free to reach out via email at askeventstreams@microsoft.com. You can also submit feedback or feature request on Fabric Ideas, and join the conversation with fellow users in the Fabric Community
If you haven’t already, check out the video walkthrough for the full experience in action.
Source: United States Senator for New Hampshire Maggie Hassan
WASHINGTON – U.S. Senator Maggie Hassan (D-NH) joined a bipartisan Congressional Delegation to Canada to discuss ways to repair and rebuild the relationship between the United States and Canada, which has been damaged by President Trump’s reckless tariffs that increase costs for Granite Staters. Senator Hassan visited Canada as part of a delegation with Senator Ron Wyden (D-OR), Senator Lisa Murkowski (R-AK), and Senator Catherine Cortez Masto (D-NV). The delegation met with Canadian Prime Minister Mark Carney, Foreign Minister Anita Anand, Minister for Canada-U.S. Trade and Intergovernmental Affairs Dominic LeBlanc, Finance Minister Francois-Philippe Champagne, and Industry Minister Melanie Joly.
“Canada is New Hampshire’s most important trading partner, and we must continue to find ways to rebuild our partnership amid the uncertainty caused by President Trump’s reckless tariffs,” said Senator Hassan. “Historically, we have had a close security and trade relationship that benefits workers, businesses, and families on both sides of the border, but that relationship is now at risk because of President Trump’s actions. It was great to meet with Prime Minister Carney and other Canadian officials to discuss these critical issues facing our relationship and the ways in which we can work together to move forward. I will continue working to restore stability and trust to this vital partnership that is so important to New Hampshire’s economy and our shared future.”
Senator Hassan is standing up for Granite State families and speaking out against President Trump’s reckless and haphazard tariffs. Earlier this year, she joined the New Hampshire Congressional delegation in urging President Trump to halt tariffs on Canada that would dramatically increase costs for Granite State families. The wide-reaching effects of these tariffs were further highlighted in April when Senator Hassan met with business owners from a NH-based building materials retailer, who described the higher costs the business is facing due to President Trump’s tariffs.
I’m writing to let you know about two changes on our senior leadership team.
First, Jeffrey Geoghegan, who has served as Executive Vice President for Finance and Chief Financial Officer for both UConn and UConn Health since 2022, will be returning to UConn Health full-time as its CFO.
Under the leadership of Dr. Agwunobi, UConn Health continues to move forward with its important plans for strategic clinical growth in the years ahead. Due to the enormity and complexity of this process, on top of the normal work of managing UConn Health’s budget year-to-year, we agreed that Jeff’s exclusive focus must be on UConn Health during this critical time, rather than on overseeing the finances of the entire institution.
Prior to his current appointment, Jeff previously served as CFO of UConn Health beginning in 2013.
I want to thank Jeff for his excellent and exceptionally hard work over the last three years as he has helped guide our University through multiple budget cycles and in planning for our fiscal future.
Related, I have appointed Reka Wrynn as Interim Vice President for Finance for UConn. In this expanded role, Reka will continue to lead the development and management of the operating and capital budgets for Storrs and the regional campuses, as well as oversee mandatory institutional data reporting and analysis. In addition, her portfolio will now include oversight of the Financial Operations and Controller’s Division and the Procurement Office.
Reka has been at UConn since 1999 and has served as Associate Vice President for Budget, Planning and Institutional Research since 2022. I want to thank Reka for her continued service to UConn and her willingness to step into this interim role.
We will soon be launching a search for Executive Vice President for Operations and CFO for the Storrs and regional campuses. The membership of the search committee is below.
Nathan Fuerst (Search Chair), Vice President for Student Life and Enrollment, UConn Jeff Geoghegan, CFO, UConn Health Amy Yancey, President and CEO, UConn Foundation David Benedict, Director of Athletics, UConn Phil Hunt, Deputy Chief of Staff, Office of the President Eric Kruger, Vice President for Facility Services and University Planning, UConn Daniel Schwartz, Vice Provost for Academic Operations, UConn Janel Simpson, Chief Administrative Officer, UConn Health Reka Wrynn, Interim Vice President for Finance, UConn Margaret Feeney, Executive Director of Strategic Planning & Initiatives, UConn Lindsay DiStefano, Associate Vice President for Research Development, UConn/UConn Health Robert Day, Chair, Senate Executive Committee, University Senate, UConn Rachel Rubin, Executive Secretary to the Board of Trustees, UConn
We will be assisted in the search by the firm Russell Reynolds Associates.
WASHINGTON, July 24, 2025 (GLOBE NEWSWIRE) — EB5 Capital is pleased to announce the closing of its $42.4 million investment in Woodfield Development’s Atlanta Woodrow Apartments (JF41) project.
Located in Atlanta, Georgia, the high-unemployment Target Employment Area (TEA) project is a Class A multifamily development featuring 300 units across four modern apartment buildings and 25 townhomes. The development will include expansive amenity space, including a resort-caliber pool and lounge, commercial-quality fitness center, and vibrant gaming courtyard, all complemented by top-of-market interiors and finishes.
Considered a significant tech hub and corporate city, Atlanta is home to many major companies including UPS, Coca-Cola, Delta Airlines, Home Depot, and CNN. JF41 is situated in the South Atlanta submarket, a rapidly developing area near downtown. The location offers convenient access to several major transportation routes and is only ten miles from Hartsfield-Jackson Atlanta International Airport, the world’s busiest airport.
“This project is a great example of how the EB-5 Program helps redevelop communities,” said Jonathan Mullen, EB5 Capital’s Senior Vice President of Investments. “We’re proud to be part of a project that will bring over 900 new jobs to a high-unemployment area and contribute to the continued growth of the South Atlanta region.”
JF41 marks EB5 Capital’s 21st multifamily investment and second project in the state of Georgia. Construction is expected to start in Q3 2025 and reach completion in Q1 2027.
About EB5 Capital
EB5 Capital provides qualified foreign investors opportunities to invest in job-creating commercial real estate projects under the United States Immigrant Investor Program (EB-5 Visa Program). As one of the country’s oldest and most active Regional Center operators, the firm has raised more than one billion dollars of foreign capital across over 45 EB-5 projects. Headquartered in Washington, DC, EB5 Capital’s distinguished track record and leadership in the industry has attracted investors from over 75 countries. Please visitwww.eb5capital.comfor more information.
PANAMA CITY, July 24, 2025 (GLOBE NEWSWIRE) — The cryptocurrency market faced heavy volatility as XRP dropped sharply, while LF Labs (LF Coin) attracted attention as a potential safe haven. XRP’s decline followed large wallet transfers, yet LF Labs showed resilience and gained support from a growing investor base. As panic hit XRP, LF Coin’s tokenomics and ecosystem strength helped it stand out during the correction.
XRP Faces Sharp Drop Amid Co-Founder Transfers
XRP’s price fell over 10% within 24 hours, breaking below the critical $3.27 pivot level. The drop followed a $175 million transfer of 50 million XRP from a wallet linked to co-founder Chris Larsen. As sell-off fears spread, XRP futures recorded $81.7 million in liquidations, and trading volume rose 149.8%.
The heavy volume confirmed intense selling pressure as market participants rushed to exit positions. South Korea’s Upbit exchange reportedly accelerated the decline by selling more than 75 million XRP. Meanwhile, the MACD histogram signaled weakening bullish momentum, falling from +0.06 to +0.041.
Source: X
Despite speculation of a long-term decline, some analysts maintained a bullish view, citing technical setups. A potential XRP recovery hinges on the outcome of the ongoing lawsuit with the U.S. SEC. Legal experts believe a settlement before the August 15 status deadline may limit penalties and boost sentiment.
LF Labs (LF Coin) Attracts Positive Momentum
While XRP struggled, LF Coin gained traction due to strong fundamentals and community-focused tokenomics. Despite market pressure, LF Coin fell only 10.19%, supported by its expanding ecosystem and clear use cases. Unlike XRP, LF Coin benefits from active market-making, strategic exchange support, and real-world utilities.
LF Labs celebrated its fourth anniversary with an announcement of 20 upcoming exchange listings scheduled for July 30. These listings are expected to bring greater visibility and liquidity to the LF Coin. The project’s focus on building a robust token economy also enhances investor confidence during broader market pullbacks.
LF Coin operates a crypto-to-fiat PoS system, LF Wallet, and supports Web3 startups through its accelerator. This approach creates sustained value and drives long-term growth for LF Coin holders. LF Labs’ commitment to both capital and infrastructure differentiates it from other projects.
LF Coin Tokenomics Highlight Community Commitment
LF Coin’s tokenomics allocate 60% of the supply to the community, encouraging widespread participation and fair distribution. The team and contributors each receive 15%, and 10% is reserved for public sale. This structure reinforces decentralization and ensures strong grassroots engagement within the ecosystem.
The maximum supply of LF Coin is capped at 10 billion, with nearly 3 billion already in circulation. The project’s utility-based model supports consistent usage and strengthens price stability over time.
Disclaimer: This content is provided by LF Coin. 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. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.
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Source: The Conversation – UK – By Travis Van Isacker, Senior Research Associate, School of Sociology, Politics and International Studies, University of Bristol
On a cold, wet November evening, Issa Mohamed Omar and more than 30 other men, women and children set off from their informal camp near the northern French port city of Dunkirk. They walked through the darkness in near-silence for around two hours, until they reached the beach from where they hoped to start a new and better life.
As they arrived, five men were busy pumping up an inflatable dinghy and attaching an outboard engine. These people smugglers had charged each of their customers more than a thousand euros for a trip that costs someone with the right passport less than a hundred.
The travellers were given life-vests, arranged into rows and counted. “There are 33 of you,” one of the smugglers said. For many on board, this was not their first attempt at reaching England.
Most came from Iraqi Kurdistan, including Kazhal Ahmed Khidir Al-Jammoor from Erbil, who was travelling with her three children: Hadiya, Mubin and Hasti Rizghar Hussein, respectively aged 22, 16 and seven.
A father and son from Egypt were shown how the engine worked and provided a GPS device and directions to Dover, around 35 miles (60km) to the west across the Channel. Mohamed Omar would later recall:
The Egyptian man was put in charge of steering the boat by the smugglers. He was travelling with his son, who looked like he was in his late teens or maybe early 20s. I do not know how they came to be the driver and navigator.
There were also at least three Ethiopian nationals – one of whom, father-of-two Fikiru Shiferaw from Addis Ababa, sent his wife Emebet at home in Ethiopia a final WhatsApp voice message:
We have already boarded the boat. We are on the way. I will turn off my phone now. Goodnight, I will call you tomorrow morning.
These were the last words she would ever receive from her husband.
What happened to Fikiru Shiferaw and the other passengers on the night of November 23-24 2021 has been the subject of the UK’s Cranston Inquiry which, during March 2025, heard from 22 witnesses to the disaster, including officers involved in the UK’s search-and-rescue (SAR) response. Chaired by former High Court judge Sir Ross Cranston, the independent inquiry also heard from Mohamed Omar from Somalia – one of only two survivors – as well as family members of many of the dead and missing.
These hearings not only shed light on the actions of UK Border Force and His Majesty’s Coastguard officers during the failed rescue operation – designated Incident Charlie – in the early hours of November 24, but the agencies’ approach to “small boat crossings” in general dating back to 2017.
According to the testimonies, officers had been operating under extreme pressure in the months leading up to the disaster. Kevin Toy, master of the Border Force ship Valiant which was sent out to search for the missing dinghy that night, explained that in the run-up to the incident, “night after night” he could see his crew were “utterly exhausted” by the end of their shifts.
The evidence shows the British government was aware of the growing risk that Border Force and HM Coastguard could be overwhelmed by the rising number of small boat crossings – and that people might die as a result. In May 2020, a document produced by the Department for Transport acknowledged that “SAR resources can be overwhelmed if current incident numbers persist”. At least three senior HM Coastguard officers identified the same risk in August 2021.
Multiple communication failures have also been exposed by the inquiry – among British officers, with their opposite numbers in France, and between both countries’ emergency services and the increasingly desperate people aboard the sinking dinghy.
Despite numerous distress calls and GPS coordinates being shared via WhatsApp, a rescue boat failed to reach the travellers in time. Amid the confusion, when their calls stopped, the coastguard assumed Charlie’s passengers had been picked up and were safe. In fact, they were perishing in the cold waters of the Channel over more than ten hours.
The Insights section is committed to high-quality longform journalism. Our editors work with academics from many different backgrounds who are tackling a wide range of societal and scientific challenges.
As part of my research into the digital transformation of the UK-France border, I attended the inquiry and have studied the many statements, call transcripts, operational logs, emails and meeting minutes it has made public. Initially, I wanted to understand how the November 2021 disaster became a watershed moment in the UK government’s response to people trying to cross the Channel by small boat or dinghy, catalysing the transformation of the UK’s maritime border into the hyper-surveilled space it is today.
But, after speaking to representatives for Mohamed Omar and the bereaved families as well as migrant rights organisations, larger questions have emerged. In particular, given the inquiry’s singular focus on this one catastrophic event in November 2021, those I spoke to are concerned that its recommendations will be unable to prevent further deaths from occurring in the Channel, which have risen dramatically over the last 18 months.
How ‘small boat crossings’ began
Since the UK and France began operating “juxtaposed” border controls in the early 1990s (meaning border checks occur before departure), asylum seekers trying to reach England have had to make irregular journeys across the Channel. Until 2018, these were typically aboard trains and ferries – after sneaking on to a lorry or through a French port’s perimeter security.
At the time of the “Jungle” camp near Calais in 2015-16, media coverage of collective attempts by its residents to enter French ports spiked UK government investment in the border. Between 2014 and 2018, it gave its French counterpart at least £123 million to “strengthen the border and maintain juxtaposed controls”. These funds paid for French police to patrol the ports and border cities, regularly evict migrants’ living sites, and finance detention and relocation centres.
As admitted by then-home secretary Sajid Javid in 2019, this increased security led people to find other ways across the Channel. Beginning in the winter of 2018, smugglers organised journeys in small, seaworthy vessels they had stolen from marinas along the French coast. These “small boats” continue to lend their name to this migration phenomenon – yet the unseaworthy inflatable dinghies used today, with no keel or rigid hull, are not worthy of the name.
Even in the context of the usual sensationalism surrounding irregular migration to the UK, small boat journeys were met with an especially intense response, both politically and in the media.
When 101 people crossed between Christmas and New Year in 2018, Javid declared it a major incident. Ever since, “stopping the boats” has been one of the UK government’s highest priorities. Despite small boat arrivals making up only 29% of UK asylum claimants in 2018-24, billions of pounds have been spent to try and control the route.
Frosty relations and the ‘pushback’ plan
As Channel crossings rose sharply over 2020-21, worsening relations between France and the UK due to Brexit complicated how the two governments worked together to respond. In his testimony, former clandestine Channel threat commander Dan O’Mahoney – appointed by Javid’s successor, Priti Patel, to “make small boat crossings unviable” – described relations between the two countries as already “very frosty” when he began in August 2020.
After France’s then-interior minister, Gérald Darmanin, axed a plan for UK vessels to take rescued migrants back to Dunkirk, O’Mahoney was tasked by senior ministers to come up with an alternative. The resulting “pushback” plan, called Operation Sommen, involved Border Force officers on jet skis driving into migrant dinghies to turn them back as they crossed the border line into UK waters. When France learned of the plan, O’Mahoney recalled:
They thought it went counter to their and our obligations around safety of life at sea … They objected to it very strongly, and it affected our already quite strained relationship with them further.
Operation Sommen was abandoned in April 2022 before having ever been used in anger. However, preparations were said to have taken up “a very considerable amount of time and resource” at both the Home Office and the Maritime and Coastguard Agency – and had “a detrimental effect” on the UK’s overall SAR response to small boat crossings.
At a meeting of senior officials in June 2021 to discuss Operation Sommen, ministers had made clear that the “numbers of people crossing [was] a political problem” – and that improving SAR capabilities did not “fit with [the] narrative of taking back control of borders”.
Although senior HM Coastguard officers recognised “it is extremely difficult to locate small boats or communicate with those onboard”, the inquiry heard that officers did not recall receiving “any small boat training before November 2021”, other than in the procedure to allow Border Force to push them back to French waters.
The head of Border Force’s Maritime Command, Stephen Whitton, told the inquiry he was under “a huge amount of pressure” to prevent small boat crossings, while also “providing the bulk of the support to search and rescue”. Despite carrying out 90% of all small boat rescues in the Channel and “regularly being overwhelmed”, Border Force Maritime Command received “no additional assets to manage the search and rescue response” before November 2021.
‘The pressure we were under’
When the decision was taken for Border Force – a law enforcement rather than search-and-rescue organisation – to be the primary responders to small boat crossings in 2018, only around 100 people were crossing each month. Yet by the time of the disaster three years later, according to an internal Home Office document, the total for 2021 was “already more than 25,000”.
At the inquiry, O’Mahoney stated: “As 2021 went on, it became much clearer that … frankly, we just needed more [rescue] boats.” Whitton admitted that before the disaster, Border Force, HM Coastguard, the Royal National Lifeboat Institution and other support organisations were all “on our knees in terms of the pressure we were under, and it was getting hugely challenging”.
The evidence shows this pressure was acutely felt inside Dover’s Maritime Rescue Coordination Centre, which sits atop the port’s famous white cliffs offering a commanding view of the Channel. Inside, Coastguard officers coordinate SAR operations and control vessel traffic in the Dover Strait – one of the world’s busiest shipping lanes.
On the night of November 23-24, three coastguard officers were on search-and-rescue duty: team leader Neal Gibson, maritime operations officer Stuart Downs, and a trainee – unnamed by the inquiry – who was officially only present as an observer.
HM Coastguard’s Maritime Rescue Coordination Centre at Dover overlooking the Channel. Travis Van Isacker, CC BY-NC-SA
Staffing appears to have been a longstanding issue at the Dover coastguard station where, according to divisional commander Mike Bill, there was “poor retention of staff” and “experience and competence weren’t the best”. Only the day before the disaster, during a migrant red days meeting – convened when, due to good weather, the probability of Channel crossers is considered “highly likely” – chief coastguard Peter Mizen had warned that only having two qualified officers at Dover on nights “isn’t enough”.
Over recent months, as the station had become busier responding to small boat crossings and in the wake of an unsuccessful recruitment drive, staff were having to work flat-out throughout their shifts, and were being asked to come in on scheduled days off.
On the night of November 23-24, owing to staff shortages, team leader Gibson told the inquiry he had to cover traffic control duties for three hours from 10.30pm. This meant he was away from the SAR desk at 00.41am, when a message arrived from the national rescue coordination centre along the coast in Fareham, stating that the Coastguard’s scheduled surveillance aeroplanes would not be flying over the Channel that night due to fog.
The officers were told they would be “effectively blind” – and should not allow themselves “to be drawn into relaxing and expecting a normal migrant crossing night”. The message warned: “This has the potential to be very dangerous.”
‘Their boat – there’s nothing left’
According to Mohamed Omar, the sea was calm when he and the other passengers departed the French beach around 9pm UK time. Giving his evidence to the Cranston Inquiry from Paris – he still cannot travel to the UK – a ship approached them around an hour into their voyage:
They came up to us to see what we were doing, and shone a light on us. I remember seeing a French flag on the boat. It was a big boat and I am certain it was the French coastguard. I had heard from people I met in the camp in Dunkirk that this happened sometimes, and that the French boat would follow until you reached English waters.
In fact, Mohamed Omar said, the French ship left the travellers again after about an hour. Shortly after this, the problems began.
A French warship patrols the shore of Mardyck in northern France, close to where Charlie is thought to have departed. Travis Van Isacker, CC BY-NC-SA
Around 1am, seawater began entering the dinghy. By now, it was in the vicinity of the Sandettie lightvessel, around 20 miles north-east of Dover. At first, passengers managed to bail out the 13°C water – but soon the flooding became uncontrollable. The dinghy’s inflatable tube began losing pressure, and a couple of the Kurdish men used air pumps to try to keep it inflated. Others tried to prevent panic spreading among the passengers.
Many onboard began to make frantic calls for rescue. What were reported to be leaked transcripts of some of these calls were published by French newspaper Le Monde a year after the sinking. They showed the first distress call from the dinghy was received by the French coastguard at 12.48am. Speaking in English, the caller said there were 33 people on board a “broken” boat.
According to Le Monde, three minutes later, another call was transferred to the French maritime rescue coordination centre at Cap Gris-Nez by an emergency operator who reported: “Apparently their boat – there’s nothing left.” Following procedure, the French coastguard officer asked the caller to send a GPS position by WhatsApp so she could “send a rescue boat as soon as possible”. At 1.05am UK time, the GPS position arrived.
Rather than send a French boat, Le Monde reported that the officer phoned her counterparts in Dover to warn them a dinghy 0.6 nautical miles from the border line would soon be crossing into UK waters. On the other end of the line was the trainee officer, who was handling routine calls that night despite officially only being an observer.
After the call finished, according to Downs’s evidence to the inquiry, the trainee mistakenly told him the dinghy was thought to be “in good condition” – information he recorded in the log for Incident Charlie. This miscommunication may have affected the urgency of the UK’s SAR response, preventing HM Coastguard and Border Force from appreciating the severe distress the “broken” dinghy was in.
Just before 1am, the French coastguard had sent its migrant tracker spreadsheet, containing information on all small boat crossings that night, to HM Coastguard for the first time. It showed four migrant dinghies at sea – which Gris-Nez had been aware of “for many hours”, according to Gibson.
The issue of the French coastguard appearing to withhold information about active small boat crossings had been raised by HM Coastguard’s clandestine operations liaison officer during a July 2021 review. And earlier that very evening, Gibson told one of his colleagues:
Sometimes they just seem to keep it quiet. Like we’ll not get anything – then we’ll get a tracker at three in the morning with 15 incidents, and they go: ‘Mostly these are in your search-and-rescue region.’ Wonderful.
At 1.20am, Downs phoned Border Force Maritime Command in Portsmouth to request a Border Force vessel search for the dinghy Charlie. He provided the GPS position received from his French counterpart and the number of people onboard – but also the incorrect information that “they think it’s in good condition”.
Ten minutes later, the Valiant, Border Force’s 42-metre patrol ship stationed at Dover, was tasked to proceed towards the Sandettie lightvessel. At the same time, the first direct call to the Dover rescue coordination centre came in from Charlie. The distressed caller said they were “in the water” and that “everything [was] finished”.
Around 15 minutes later, at 1.48am, Gibson took a call from 16-year-old Mubin Rizghar Hussein, who spoke good English. Despite the noise and commotion, he managed to provide Gibson with a WhatsApp number – in order to share their GPS position. The transcript of this call records voices shouting in the background: “It’s finished. Finished. Brother, it’s finished.”
A ‘grave and imminent threat to life’
Gibson told the inquiry that after his call with Rizghar Hussein, he had a “gut feeling that this doesn’t feel quite as usual”. By “usual” he meant what was, according to maritime operations officer Downs, a commonly held belief at the Dover coastguard station that with “nine out of ten”“ callers from small boats: “It would generally be overstated that the boat … was sinking, people were drowning … Whatever was going on would be overstated.”
Acting on his gut feeling, at 2.27am Gibson took the unprecedented decision to broadcast a Mayday Relay – denoting a “grave and imminent threat to life”. By maritime law, this alert required other vessels to offer their assistance.
Gibson told the inquiry he did this to get the French warship Flamant to respond. He could see on his radar screen that Flamant was closest to Charlie’s position and was the best vessel to rescue the people if the dinghy really was sinking.
Why the Flamant did not respond is at the centre of an ongoing criminal investigation in France into two of the warship’s officers and five coastguards from Gris-Nez, for “non-assistance of persons in distress”. This investigation’s strict confidentiality obligation means the inquiry was unable to access any information from the French side about their operations that night.
At 2.01 and again at 2.14am, HM Coastguard had received new GPS positions via WhatsApp showing the dinghy to be more than a mile inside UK waters.
Valiant, having been tasked at 1.30am, only exited the port of Dover at 2.22am and would need at least another hour to reach the Sandettie. Despite this, no other vessel was sent to join the search. At 3.11am, when asked during a call by Border Force Maritime Command whether Charlie was “still a Mayday situation”, Gibson replied: “Well, they’ve told me it’s full of water.”
With a total of four small boats being shown in the Channel that night by the French tracker spreadsheet, Gibson suggested there could be as many as 110 people on board these dinghies – beyond Valiant’s capacity for taking on survivors. Nevertheless, Border Force and HM Coastguard opted to “wait and see what the numbers are, and whether Valiant can deal with that … We don’t want to call any other assets out just yet.”
In a call with Christopher Trubshaw, captain of the Coastguard rescue helicopter stationed at Lydd on the Kent coast, aviation tactical commander Dominic Golden explained that Border Force was “not prepared to bring in their crews who are pretty knackered” unless “we can convince them there are people in real danger”. He then asked Trubshaw to search the Channel for the small boats shown in the French tracker, as the surveillance aeroplanes had been unable to take off.
In her closing submission to the inquiry, Sonali Naik, a legal representative of the survivors and bereaved families, highlighted Golden’s “dismissive attitude” towards Charlie’s distress when he gave Trubshaw the reason for the request, which included the following:
As usual, the catalogue of phone calls is beginning to trickle in … You know, the classic ‘I am lost, I am sinking, my mother’s wheelchair is falling over the side’ etc. ‘Sharks with lasers surrounding boat’ and ‘we are all dying’ type of thing.
Nevertheless, Golden asked the helicopter crew to pack a liferaft. “I can’t imagine we’re going to need it but … potentially you get to play with one of your new toys.”
While Golden described his words as “unwise” or “flippant”, Naik said they were “more than that” – suggesting they revealed rescuers’ general perceptions of the occupants of small boats and the widely held scepticism towards their distress calls.
‘We are dying. Where is the boat?’
With the water inside rising fast and their dinghy collapsing, Charlie’s increasingly desperate passengers kept trying to get rescuers to appreciate how dire their situation was.
At 2.31am in the Dover rescue coordination centre, Gibson received a second call from Mubin Rizghar Hussein, who pleaded: “We are dying, where is the boat?”
Gibson replied: “The boat is on its way but it has to get …” only to be interrupted by Rizghar Hussein saying: “We all die. We all die.”
“I get that,” Gibson told the terrified teenager, “but unfortunately, you’re going to be patient and all stay together, because I can’t make the boat come any quicker.” He ended the call saying:
You need to stop making calls because every time you make a call, we think there’s another boat out there – and we don’t want to accidentally go chasing for another boat when it’s actually your boat we’re looking for.
Gibson broke down briefly when recounting this second call during his evidence to the inquiry, explaining:
If you don’t understand what’s fully going on and you’re getting ‘we’re all going to die’, it’s quite a distressing situation to find yourself in, sitting at the end of a phone – effectively helpless. You know where they are, you want to get a boat to them, and you can’t.
Call records also show that coastguards on both sides of the Channel passed responsibility for rescuing the sinking dinghy off to one another. According to Le Monde, during one call a passenger told the French coastguard officer he was “in the water” – to which she replied: “Yes, but you are in English waters.”
The transcript of the last call before Charlie capsized, made at 3.12am, reveals that Downs asked “where are you?” 17 times – despite the caller being unable to answer anything beyond “English waters”. The maritime operations officer finished by instructing the caller to hang up and dial 999: “If it won’t connect on 999, then you’re probably still in French waters.”
In her closing submission, Naik pointed to “discriminatory stereotypes and attitudes towards migrants on small boats which fatally affected the SAR response” for Charlie – as rescuers, in her words, “jumped to premature conclusions”. According to survivor Mohamed Omar:
Because we have been seen as refugees … that’s the reason why I believe the rescue, they did not come at all. We feel like we were … treated like animals.
Fatal assumptions
At 3.27am, Border Force’s ship Valiant arrived at Charlie’s last recorded GPS position (from 2.14am) – but found nothing. Its master, Kevin Toy, decided to head north-easterly towards the Sandettie lightvessel, the way the tide was flowing.
En route, Valiant spotted two other dinghies in the darkness using its night vision – one still making its way towards the English coast, the other stopped in the water. The stationary dinghy was in greater danger from the Channel’s shipping traffic, so Valiant went to it and began rescuing those onboard – radioing back that it had “engaged unlit migrant crafts stopped in the water” with approximately 40 people onboard.
In the Dover rescue coordination centre, Gibson assumed this dinghy could be Charlie and gave Mubin Rizghar Hussein’s name and telephone number so Valiant’s crew could verify whether he was on board. At 4.16am, Gibson himself tried calling the WhatsApp number that Rizghar Hussein had shared, but the call failed.
At 4.20am, Valiant completed its first rescue of the morning. Two more followed after the Coastguard helicopter spotted two other dinghies in the Sandettie area – but nobody in the water. A near-capacity Valiant then returned to Dover just after 8am with 98 survivors on board.
None of the three rescued dinghies matched the description of Charlie. All were in good condition, differently coloured, and with disparate numbers of people onboard – yet the misplaced assumption Charlie had been rescued persisted amid the night’s murky information environment. Gibson stated that, while he had soon received additional information matching Valiant’s first rescue to a different dinghy, he was still “fairly certain Charlie had been picked up”.
“Once Valiant had picked up these [three] boats,” he explained, “we no longer received calls from Charlie, and a call to a known phone number on Charlie failed.” As a result, neither Valiant nor the Coastguard helicopter were sent back out to continue searching for the stricken dinghy.
In fact, Gibson’s call to Rizghar Hussein’s WhatsApp number did not fail because Charlie’s passengers had been rescued – nor because they had thrown their phones into the sea when Border Force arrived. Rather, it was because the dinghy had capsized and everyone had fallen into the Channel’s freezing waters.
‘No one came to our rescue’
In harrowing evidence to the inquiry, Mohamed Omar explained how, as one side of the dinghy deflated, the passengers – “hysterical and crying” – panicked and moved to the opposite side. This shift in weight caused the dinghy to capsize:
The screaming when the boat tipped and people fell in the water was deafening. I have never heard anything as desperate as this. I was not thinking about whether we were going to be rescued any more; it was all about how to stay alive.
As the passengers were thrown into the water, the dinghy flipped on top of them. Mohamed Omar described having to swim out from underneath to catch a breath: “It was dark and I could not really see. It was extremely cold and the sea was rough.”
As he surfaced, he saw Halima Mohammed Shikh, a mother of three also from Somalia and travelling alone, struggling as she couldn’t swim. She screamed his name for help, and he tried to get her back to what was left of the dinghy – but couldn’t. “I think she was one of the first people to drown,” he told the inquiry.
Others managed to cling to the broken inflatable, hoping rescue was on its way – but “no one came to our rescue”. Pushed and pulled by the waves, some lost their grip and drifted away before dawn. Mohamed Omar recalled:
All night, I was holding on to what remained of the boat. In the morning, I could hear the people were screaming and everything. It’s something I cannot forget in my mind.
By the time the sun finally rose at 7.26am, he estimated that no more than 15 people were left clinging to the broken dinghy – adrift on the tide in a busy shipping lane:
I do not recall speaking with anyone in the water. Those who were alive were half-dead. There was nothing we could do any more. I could see bodies floating all around us in the water. I presume most people were either already dead or were unconscious.
Shortly afterwards, Mohamed Omar said he let go of the dinghy and began to swim, thinking to himself: “I am going to die [but] I don’t want to die here. At least if I die whilst swimming, I won’t feel it.”
He swam towards a boat he could see in the distance and, as he got closer, began to wave his life jacket for attention. A French woman, out fishing with her family, saw him and jumped in the water to save him.
As he finished telling his story, Mohamed Omar told the inquiry: “I’m a voice for those people who passed away.”
Bodies are found
Around 1pm on the afternoon of November 24, 12 hours after the first distress calls from Charlie, a French commercial fishing vessel began finding bodies in the sea nine miles north-west of Calais. But as the news came in, no one at HM Coastguard or Border Force appears to have made the connection with Incident Charlie.
Days later, when the accounts of Mohamed Omar’s fellow survivor, Mohammed Shekha Ahmad from Iraqi Kurdistan, and a relative of two of the deceased emerged, the Home Office refuted their claims that the dinghy had sunk in UK waters as “completely untrue”.
However, five days after the disaster, Gibson contacted the small boats tactical commander to share his concerns that the reported deaths could be from Charlie. He had read a news article in which “the survivor states a male called Mubin called the emergency services, which could possibly be the ‘Moomin’ [sic] I spoke to”.
On December 1, clandestine Channel threat commander O’Mahoney responded to a question from the UK’s Joint Committee on Human Rights, as to whether the migrants whose bodies had been found in French waters had made distress calls to the UK authorities. O’Mahoney told the committee:
We are looking into that. To manage your expectation, though, it may never be possible to say with absolute accuracy whether that boat was in UK waters [and] I cannot tell you with any certainty that the people on that particular boat called the UK authorities.
Thanks largely to their grieving families tireless pursuit of the truth, however, it is now possible to say definitively that Charlie had been in UK waters – and that a number of its passengers spoke to HM Coastguard officers.
It was only after these families raised concerns that the disaster had involved the UK authorities that the Department for Transport commissioned a safety investigation into the incident in January 2022. A lawyer for the bereaved families suggested to me that without the threat of legal action, the Department for Transport “would likely not have done anything” – despite this being Britain’s worst maritime disaster for decades. Meanwhile, according to inquiry evidence, the Home Office is understood not to have conducted an internal review or investigation into its role in the disaster.
After a frustrating two years of waiting for the survivors and bereaved families, the Marine Accidents Investigations Branch published its report – which both confirmed most of their accounts and substantiated their criticisms of the SAR response.
Soon afterwards, the Cranston Inquiry was announced. Despite no bodies having been recovered in UK waters, it has been run almost like an inquest. In his final report – to be published by the end of 2025 – Sir Ross Cranston has promised to “consider what lessons can be learned and, if appropriate, make recommendations to reduce the risk of a similar event occurring”.
A ‘crucial and unique opportunity’
HM Coastguard and Border Force officers have repeatedly told the inquiry how the UK’s approach to small boat search-and-rescue has changed since the November 2021 disaster. More officers have been hired, Border Force has contracted additional boats to conduct rescues, information sharing has improved, and cooperation with French colleagues is better. Today, there are significantly more rescue ships on both sides of the Channel which can intervene faster when dinghies come to be in distress, and have undoubtedly saved many lives.
There has also been massive investment in drones, aeroplanes and powerful shore-based cameras to reduce the risk that HM Coastguard loses “maritime domain awareness” again if some of its surveillance aircraft are unable to fly. New technology automatically translates coastguard officers’ messages into different languages and extracts live GPS locations and images from travellers’ mobile devices.
Such investments make it unlikely that another dinghy could be lost in the middle of the Channel after its passengers call for help, in the way Charlie so catastrophically was.
Nevertheless, people continue dying while attempting to cross the Channel – with 2024 having been by far the deadliest year yet. At least 69 people lost their lives, according to the Refugee Council. So far in 2025, 24 people are documented as dead or missing at the UK-France border by Calais Migrant Solidarity, amid a record number of attempted crossings for the first half of the year.
Some migrants’ rights NGOs have suggested the UK’s “stop the boats” policies, and European efforts to disrupt the supply chain of dinghies and other equipment used in crossings, has driven such deadly overcrowding.
But it is also unlikely that the circumstances surrounding more recent deaths in the Channel will ever be investigated as thoroughly as Incident Charlie, if at all. Lawyers for the bereaved families have therefore been keen to highlight the Cranston Inquiry’s “crucial and unique opportunity” not only to look back and offer answers about one of Britain’s worst maritime disasters in recent decades – but to look forwards and “prevent the further loss of life at sea”.
The survivors, families and migrants’ rights organisations who contributed their evidence thus hope the inquiry’s recommendations go beyond purely operational and administrative improvements to search-and-rescue, to address the fundamental role that UK, France and European border policies play in why more people are dying in the Channel, despite the improvements to search-and-rescue strategies and resources.
Above all, they ask why only some people are able to travel to the UK in comfort and safety while others must make the journey in precarious, overcrowded inflatable dinghies – and thus entrust their lives to the search-and-rescue services whose success can never be guaranteed. As Halima Mohammed Shikh’s cousin, Ali Areef, told the inquiry:
It makes me feel sick to think about crossing the Channel in a ferry where others including a member of my family lost their lives because there was no other way to cross. I will never take a ferry across the Channel again.
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Travis Van Isacker gratefully acknowledges the support of the Economic and Social Research Council
(UK) (Grant Ref: ES/W002639/1).
The House of Lords this week approved government legislation that will allow foreign states to hold up to a 15% stake in British newspaper publishers.
This vote clears the way for the American investment company Redbird to take control of the troubled Telegraph newspaper group following two years of uncertainty. An integral element of that bid is a 15% stake by the sovereign investment fund IMI which is owned by Sheikh Mansour bin Zayed Al Nahyan, the vice-president of the United Arab Emirates.
The heated Lords debate raised fundamental questions about who should own newspapers, and the link between ownership and editorial content. On one side were those who argued that Britain’s newspapers faced an “existential threat” without outside investment. On the other were those who warned against the potential influence of a foreign power on one of the UK’s longest standing publishers.
Media mergers and acquisitions are often contentious. But given the parlous state of the newspaper industry, they are likely to become more frequent.
A very different kind of newspaper deal was completed last December, when news website Tortoise Media bought The Observer. Tortoise, which was founded in 2018 by former Times editor and BBC director of news James Harding, startled analysts and journalists alike by taking over a newspaper first published in 1791.
The deal prompted strong opposition from some Observer and Guardian journalists. But from a business perspective, the deal suited both sides.
The Scott Trust, owners of the Observer since 1993, never seemed wholly committed to the Observer. (There was, for example, no dedicated Observer website). Tortoise, meanwhile, was keen to exploit the brand values of an established print product. It saw the Observer as a suitable vehicle for its approach of news analysis and explanation rather than breaking stories.
The media world has also been fixated on the succession story of the Murdoch family and its implications for his UK newspapers. The Sun, News of the World (until its closure in 2011), the Times and Sunday Times have been the bedrock of Rupert Murdoch’s economic and political power in the UK for decades.
In December, he lost the battle to give his eldest son Lachlan exclusive control of his media empire.
Speculation has grown as to whether any of Rupert’s progeny will want to continue the family’s print tradition after his death. His empire has suffered repeated financial and reputational hits since the phone hacking scandal. It is perfectly feasible that, once he goes, all the Murdoch press interests will be up for sale.
These various battles beg the question: why does it matter who owns a newspaper? In short, it matters because ownership, to a large extent, determines content.
Who owns the news?
From the very beginning of printed news, proprietors have exercised control over their title’s political direction and journalistic values. Prewar Britain saw Lord Beaverbrook famously exploiting his Express newspapers to campaign for free trade within the British empire.
Meanwhile, fellow newspaper baron Lord Rothermere turned his Mail newspapers into propaganda sheets for Oswald Mosley’s blackshirts, and cheerleaders for Adolf Hitler and Benito Mussolini during the 1930s.
The Rothermere family’s continued ownership of the Mail has guaranteed a consistent anti-immigration, anti-Europe rightwing worldview to the present day. How this consistent framing has been transmitted through the Mail’s editors has been well documented by journalist Adrian Addison.
Murdoch’s UK newspaper empire has also pursued his personal free market, anti-EU political vision. He has used his papers to attack the publicly funded BBC and the regulator Ofcom. Murdoch has, however, been slightly more flexible in adjusting his papers’ party political allegiance (guaranteeing a succession of prime ministerial genuflections from Margaret Thatcher through to Keir Starmer).
At the other end of the political spectrum, the Scott Trust – owners of the Guardian – was conceived by the son of C.P. Scott as a vehicle for sustaining his father’s liberal mission for the paper. It has a policy of no editorial interference, apart from continuing the paper’s editorial policy on “the same lines and in the same spirit as heretofore”. Editors are therefore enjoined to focus on the kind of progressive news agenda championed by Scott.
The trust model allows a level of freedom from traditional commercial oversight. Editors can pursue the Guardian’s well-established liberal tradition without worrying about shareholders driven by short-term profit maximisation, or an individual owner with a specific ideological agenda. This partly explains the hostility of Observer journalists to the Tortoise takeover.
Why it matters
The Lords debate focused on the risks of foreign state investment in British newspapers. But all commercial ownership models – and all owners – have their problems. Whether it be greedy shareholders, a power-hungry narcissist, an ideologically-driven family or a foreign state seeking influence in the UK, commercial models all involve editorial compromises.
One approach to the problems raised by commercial ownership is an insistence, through legislation, on a plurality of owners. But this is increasingly difficult in an industry whose traditional advertising-funded business model is under severe pressure. This context is precisely why the Telegraph’s new owner was desperate to access IMI funds.
Upmarket publications such as the Financial Times and the Times can monetise subscriptions, but paywalls discourage easy access and diminish journalistic reach. Subscriptions are also a much less attractive proposition for tabloids whose readers are less willing to pay.
Another approach is to diversify ownership models. Non-profit and charitable publishers, such as OpenDemocracy or the Bureau of Investigative Journalism, can leverage donations and are less vulnerable to the whims of corporate owners or powerful individuals. But this model is much less developed in the UK than the US.
I and colleagues have argued elsewhere that there are strong arguments for making charitable journalism easier. These models can enhance journalistic freedom, but they also come with potential downsides that need to be acknowledged.
All these options presuppose, of course, that newspapers and their online sites still have sufficient relevance and reach for us to continue to worry about ownership at all – a topic for another article.
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Steven Barnett is on the management and editorial boards of the British Journalism Review. He is a member of the British Broadcasting Challenge which campaigns for Public Service Broadcasting. He is on the Advisory Board of the Charitable Journalism Project which campaigns for public interest journalism and on the board of Hacked Off which campaigns for a free and accountable press.
The programme has been announced for Manchester’s role as Guest City at this year’s iconic La Mercè festival in Barcelona – which each year attracts hundreds of thousands of visitors into the city for a 6-day cultural festival that sets the very highest of bars for festivals everywhere, showcasing the very best of traditional Catalan culture, outdoor arts, and music.
Manchester was chosen last year by its Catalan counterparts to be the first-ever English guest city at this year’s event which takes place from 23 – 28 September.
A Memorandum of Understanding signed between Manchester and Barcelona last year, noted that the two cities share both a very similar industrial past with histories that are linked to workers’ movements, as well as a present and future with great cultural wealth linked to the creative industries.
The Memorandum kicked off a cultural collaboration between the two cities, providing a working framework for artists, organisations, and other partners, focusing initially on music and street arts events for this year’s La Mercè festival.
Since then the two cities have been working closely to put together a spectacular programme of Mancunian grown talent in outdoor arts and music for audiences in Barcelona to enjoy.
Councillor Garry Bridges, Deputy Leader, Manchester City Council, said: “Guest City status for Manchester at this year’s La Mercè festival is a huge honour for us and we’re enormously grateful to our partners, colleagues and friends in Barcelona for the opportunity to collaborate and play a part in their iconic festival.
“Culture and diversity are big deals for us in Manchester and play a vital part in helping strengthen and shape our communities, pride and prosperity. Thanks to our wonderfully diverse artists, venues, festivals, and creative workforce, culture has had a transformative effect on our city.
“The Manchester programme for La Mercè showcases the very best of our fantastically diverse cultural scene and our hugely talented artists and creators.
“We hope it gives a flavour of the vibrant and thriving cultural scene we have here in Manchester and look forward to further strengthening our ties with the great city of Barcelona and welcoming new visitors and audiences to our city off the back of this.”
The resulting programme is a celebration of fantastic outdoor work created by Manchester artists and organisations.
Highlights in the special cultural exchange include two unique new commissions from Manchester-based creators working with Barcelona-based performers, alongside new work created to celebrate Manchester and its people at La Mercè.
The programme for Manchester as Guest City has been led by XTRAX and Without Walls. It showcases the diverse cultural communities of Manchester and the rich diversity of the UK outdoor arts scene – including parades, dance, music, poetry, fire and installations.
Maggie Clarke, Director at XTRAX, said: “I’m delighted that Manchester will be Guest City at La Mercè 2025, which is the result of many years of collaboration between XTRAX and colleagues in Barcelona City Council and the Catalan arts scene. La Mercè is recognised as one of the greatest festivals of outdoor arts in the world, and it is an honour to present some of the fantastic work from Manchester at this prestigious event.
“XTRAX firmly believes in the importance of outdoor festivals, and their valuable role in bringing people and communities together. Our programme at La Mercè celebrates the diversity and quality of work from our region and we hope will inspire other global cities to seek collaborations with Manchester and the great artists from our city.
“I’m thrilled to have secured a great opportunity for UK artists in Barcelona and we look forward to continuing this exchange by hosting Barcelona artists in Manchester in 2026, and ongoing collaboration in years to come.”
Manchester at La Mercè has been produced by XTRAX, and co-curated by Without Walls.
Ralph Kennedy, Chief Executive at Without Walls, said: “We’re honoured to have collaborated with XTRAX as a strategic partner for Mercè Arts de Carrer (MAC), the La Mercè outdoor programme. Without Walls has been proudly based in Manchester since its founding, and we’re absolutely thrilled to be part of this exciting city to city partnership.
“Manchester is a vibrant hub for some of the best outdoor art being created in the UK today. The programme of shows curated by XTRAX and Without Walls for Barcelona, in partnership with the artistic director of MAC, stands as a testament to the city’s incredible creative energy.”
The Manchester at La Mercè programme features several major collaboration projects between Manchester and Barcelona artists, as well as new work created especially for this unique event.
Here are some of the highlights:
Bee for Barcelona
Carnival arts specialists Global Grooves (Manchester) team up with renowned Catalan artists Pau Reig and Dolors Sans (Barcelona) to create Bee for Barcelona– a striking new collaboration to create two Giant Bees, celebrating shared industrial heritage, cultural pride, and artistic exchange. These Giants will perform in front of thousands of people as part of La Mercè world famous Parades of Giants and Beasts.
Queen Bee Gigante, wears a costume reflecting Greater Manchester’s communities and cotton legacy. She transforms into a maypole, surrounded by 30 community dancers and musicians in a fusion of Morris and Classical Indian dance—re-imagining May Day and Carnival traditions.
Alongside her,Worker Bee, a 4-metre kinetic sculpture, shimmers with hand-painted silks encased in fibreglass, evoking stained glass. Copper legs and cog motifs nod to the textile mills and industrial histories of Manchester and Barcelona and the birth of the Industrial Revolution.
Blending Mancunian, Catalan, Pan-African, and South Asian influences, the project features 30 diverse performers from groups including Saddleworth Women’s Morris and Clog, and The Indian Association Oldham’s Dancing Diyas.
Leon Patel, CEO, Carnival arts organisation Global Grooves, said: “Queen Bee and Worker Bee tell a powerful story of how they earned their stripes.
“Queen Bee represents the evolution of that labour into opportunity, progress, culture, and celebration. She is not born of royal blood, but is Queen for a day, like the Cotton Queens of Greater Manchester’s mill towns, the Carnival Queens of the Afro-Brazilian tradition, and the flower-crowned May Queen. Work Bee honours the sweat and toil of workers wo build Manchester’s global industrial might.
“Both bees will be animated in parades and performances at La Mercè accompanied by an original musical score blending Mancunian, Catalan, Pan-African, and South Asian sounds.”
Both bees will be brought to life in parades and performances with an original multicultural musical score.
Global Grooves producers visited Barcelona in March 2025, with Pau Reig and Dolors Sans joining a Manchester residency from 21–27 July 2025.
Bee for Barcelonais commissioned by XTRAX for MCRxLaMerce2025. Supported by Manchester City Council, Arts Council England and XTRAX. Funded by Greater Manchester Combined Authority (GMCA), GM Arts, Oldham Council, and Tameside Metropolitan Borough Council.
Following its premiere at La Mercè 2025, Queen Bee Gigante and Worker Bee will return for Manchester Day in July 2026.
The Ultimate Player’s Handbook
Manchester’s leading contemporary dance companyCompany Chameleon has been commissioned to create a new dance performance, The Ultimate Player’s Handbook, for La Mercè with Barcelona dance duo Clémentine & Lisard
In the heart of a town’s square, a living handbook unfolds — one written not on paper, but in movement, strategy, and play.
The Ultimate Player’s Handbook is a vibrant street performance that explores the games we play every day – where rules are made and broken, roles shift between winner and loser, and cooperation is as vital as competition.
Co-directed by Company Chameleon (UK) and Clémentine & Lisard (CAT), the piece transforms public space into a playground where teams form, alliances shift, and every move asks us to reflect on the parts we play.
With music, dance, and celebration, this handbook in motion invites us to question: how do we navigate rules – and how do we bring a sense of playfulness in our everyday lives?
Barcelona-based Clémentine & Lisard have spent the last two weeks in Manchester (14-25 July) to create this new choreographed performance with two of Company Chameleon’s dancers and Artistic Director Kevin Turner, MBE, at Company Chameleon’s studios in Gorton.
Kevin Turner, MBE, Artistic Director of Company Chameleon said: “International collaboration has always been at the heart of Chameleon’s work, and we’re delighted to be working with Clémentine & Lisard. The commission allows us to work with a really exciting and innovative Barcelona based dance company and create something new and interesting. The collaboration gives us the chance to learn from each other, explore commonalities in our practice, and share and benefit from each other’s touring networks.”
Blending the athletic and emotionally rich movement styles of both groups, the work will debut at La Mercè in Barcelona on 24, 27, and 28 September 2025 and return for Manchester Day 2026.
The Ultimate Players’ Handbook is commissioned by XTRAX and the Institut de Cultura de Barcelona and funded by Arts Council England and Manchester City Council.
Barcelona Bee Hive
Another World Premiere, Barcelona Bee Hive will also be created especially for Manchester at La Mercè.
Artizani is a UK-based arts company specialising in spectacular theatre performed in unconventional spaces. One of Europe’s most stylish and striking street theatre acts, their work is accessible and thought-provoking, featuring high production values and a surreal twist.
The bee is the symbol of Manchester – historically representing its hard-working, unified community, and more recently serving as a powerful emblem of unity and resilience.
Audiences are invited to wander among the honey-perfumed colony, tended by ethereal beekeepers, and peer into surreal miniature worlds of ‘working’ wonder. In a specially commissioned new bee hive, created to celebrate Manchester at La Mercè, visitors can see Mancunian bees enjoying scenes from traditional Catalan festivities.
Barcelona Bee Hive is commissioned by XTRAX and funded by Arts Council England and Manchester City Council.
OUR CITY SPEAKS – poetry films from Manchester
Another unique project developed especially for Manchester’s programme at La Mercè that celebrates Manchester’s wealth of poets and spoken word artists working in a wide range of diverse styles and languages.
A captivating curated selection of short films featuring some of the city’s current leading poetry performers will take viewers on a journey through poetry that talks about identity, unity, resistance, and resilience.
Jo Flynn, Director of External Affairs, Manchester City of Literature said: “Barcelona and Manchester already share cultural ties as sister UNESCO Cities of Literature, and in many ways their dynamic cultural identity and literary boldness align too. We’re thrilled at Manchester City of Literature to be part of La Mercè programme celebrating this partnership with Manchester poetry films on stage for the festival in September. We can’t wait to see where the partnership between the cities will take us next, across all artforms.”
Manchester UNESCO City of Literature has curated this collection to share with Catalan audiences in Manchester’s sister UNESCO City of Literature during La Mercè.
The project builds on Manchester City of Literature’s strong relationship with Barcelona City of Literature which has seen a number of artistic exchanges. The partnership between the two UNESCO Cities of Literature has seen Manchester novelists, poets and performers featured at Barcelona Literary festivals throughout 2025, in celebration of La Mercè. Barcelona poets will be commissioned to help translate the work of the Manchester poets into Catalan, so the works can be understood by local audiences and a number of Catalan poets will be invited to share work about Barcelona in Manchester in 2026.
The project has been commissioned by XTRAX, funded by Manchester City Council and Arts Council England, and is delivered in partnership with Manchester City of Literature and Barcelona City of Literature.
Fire Garden by Walk The Plank
Walk the Plank, one of the UK’s leading outdoor arts specialists, will bring their acclaimed Fire Garden installation to Trinitat Park for La Mercè 2025. Known for creating ambitious public celebrations and immersive outdoor spectacles for over thirty years, the company will transform the park into a glowing landscape of metal, fire and music created by local musicians in Barcelona.
Liz Pugh, Creative Producer for the Fire Garden, said: “We’re delighted to be bringing some Mancunian magic to La Mercè, and particularly excited to see how our installation of kinetic fire sculptures animate Parc de la Trinitat in a new and different way. To be invited to bring UK work to the heart of the Catalan cultural festival is an honour indeed.”
Walk the Plank will be working with students recruited from local colleges, offering the opportunity for young people from Barcelona and elsewhere to work alongside the company’s professional fire technicians.
Liz added: “Investing in the talent of the next generation is important to us, and we seek to provide opportunities for young people to gain experience. The chance to work alongside international artists is valuable for young people: they can gain new skills and expand their ideas of what is possible through culture. We look forward to welcoming some of the Catalan artists, the musicians and the students to Manchester next year too – let’s find a way to repay the warm invitation which the city of Barcelona and MAC festival are offering to us.”
The Manchester Guest City music programme at La Mercè is presented by Manchester Music City, led by Brighter Sound.
Kate Lowes, Director, Brighter Sound (sector lead Manchester Music City) said: “We’re thrilled to announce such an exciting group of artists representing Manchester at La Mercè 2025 – Children of Zeus, Chloe Slater, Clara la San, Porij, Ríoghnach Connolly and Honeyfeet, and Space Afrika – a powerful showcase of the city’s rich and genre-defying music scene. We’re also proud to be supporting a brand-new musical collaboration between Manchester’s Werkha and Catalan artist Queralt Lahoz, which will premiere at the festival. As a member of the Music Cities Network, Manchester is proudly international in its musical outlook. This is a fantastic opportunity to deepen creative exchange between Manchester and Barcelona, and to celebrate our shared love of music on an international stage.”
International SpeakersPanel Discussions and Professional Networking Events
Alongside the outdoor performance programme at La Mercè there will also be a number of panel discussions and networking events exploring the importance of outdoor festivals in giving visibility to cultural communities and bringing people together.
These discussions will include international speakers and policy makers and will be attended by festival organisers, local authorities, artists and producers from across Europe. These events are a prelude to Mondiacult, the world’s biggest cultural policy conference for the member states of UNESCO taking place in Barcelona from 29 September – 1 October 2025.
This programme has been organised by XTRAX, Without Walls, La Mercè, ICEC Catalan Arts and Unlimited, with support from British Council and the British Embassy in Spain.
The Manchester guest city programme at La Mercè is being supported by Arts Council England through a grant to producers XTRAX.
Jen Cleary, Director North West, Arts Council England said: “We’re proud to be supporting Manchester’s Guest City programme at La Mercè in Barcelona this September. Not only will it create opportunities for talented Mancunian artists to showcase their work on an international stage, but it is a shining example of how arts and culture can support greater connections and dialogue between cities and communities across the world. La Mercè is a major event in the European outdoor arts calendar and we can’t wait to see Manchester take pride of place as the Festival’s Guest City.”
The Province Ranks Second for Retail Trade Growth in May 2025
Today, Statistics Canada shows Saskatchewan’s retail trade remains strong with a 6.4 per cent increase year-over-year in May 2025 over May 2024 (seasonally adjusted). This places the province above the national average of 4.9 per cent and tied for second amongst the provinces.
“The continued growth in our retail sector reflects our province’s strong economy and is leading to more jobs and opportunities for Saskatchewan people,” Trade and Export Development Minister Warren Kaeding said. “When the province’s economy is strong, our residents get better access to the programs and services they need.”
The total value of Saskatchewan’s retail trade reached $2.3 billion in May 2025.
The Monthly Retail Trade Survey compiles data on sales, including e-commerce sales, and the amount of retail locations by province, territory and selected census metropolitan areas from a sample of retailers.
Retail sales is a measure of total receipts at stores, or establishments, that sell goods and services to final consumers.
Statistics Canada’s latest Gross Domestic Product (GDP) numbers indicate that Saskatchewan’s real GDP at basic prices reached an all-time high of $80.5 billion in 2024, increasing by $2.6 billion, or 3.4 per cent. This places Saskatchewan second in the nation for real GDP growth and above the national average of 1.6 per cent.
Private capital investment in Saskatchewan increased last year by 17.3 per cent to $14.7 billion, ranking first among provinces. Private capital investment is projected to reach $16.2 billion in 2025, an increase of 10.1 per cent over 2024. This is the second highest anticipated percentage increase among the provinces.
Last year, the Government of Saskatchewan unveiled its new Securing the Next Decade of Growth – Saskatchewan’s Investment Attraction Strategy. This strategy, combined with Saskatchewan’s trade and investment website, InvestSK.ca, contains helpful information for investors and outlines why Saskatchewan continues to be the best place to do business in Canada.
The Justice Department announced today that Grosfillex Inc. (Grosfillex), a patio furniture company located in Pennsylvania, has agreed to pay $4.9 million to resolve allegations that it violated the False Claims Act and other statutes by evading antidumping and countervailing duties (AD/CVD) on items made of extruded aluminum originating from the People’s Republic of China (PRC).
The Department of Commerce assesses, and U.S. Customs and Border Protection (CBP) collects, antidumping and countervailing duties (AD/CVD) to level the playing field for domestic producers. Antidumping duties protect against foreign companies “dumping” products on U.S. markets at prices below cost, while countervailing duties offset foreign government subsidies. The settlement announced today resolves allegations that Grosfillex knowingly submitted, and caused to be submitted, false customs forms to CBP claiming that certain furniture parts made of extruded aluminum were not subject to AD/CVD. For a subset of such parts, the United States alleged that Grosfillex attempted to camouflage the aluminum extrusions by packaging the parts as sham furniture “kits.” In addition, for a different subset of such parts, Grosfillex knowingly failed to correct customs forms it had submitted previously, even after learning that the forms falsely stated to CBP that certain extruded aluminum parts were not subject to AD/CVD.
“Antidumping and countervailing duties protect American companies from unfair subsidies and trade practices that harm domestic industries,” said Assistant Attorney General Brett Shumate of the Justice Department’s Civil Division. “Today’s settlement demonstrates that the Justice Department will continue to actively pursue those who knowingly fail to pay customs duties.”
“This settlement should serve as a warning that the United States Attorney’s Office for the Eastern District of Pennsylvania will use every tool available to combat fraud in international trade,” said U.S. Attorney David Metcalf for the Eastern District of Pennsylvania. “We will pursue those who seek an unfair advantage in U.S. markets by attempting to evade paying the customs, duties, or tariffs on foreign imports meant to level the playing field for U.S. manufacturers.”
“The investigation into Grosfillex Inc. highlights our relentless dedication to enforcing our nation’s trade laws and protecting the integrity of our economy. By uncovering and dismantling intricate schemes to defraud the government, we ensure that all businesses operate on a fair and level playing field,” said Special Agent in Charge Edward V. Owens of Homeland Security Investigations (HSI) at the Philadelphia office of U.S. Immigration and Customs Enforcement. “The successful settlement of this case is a testament to the outstanding collaboration between HSI, CBP and the U.S. Department of Justice. We remain vigilant in our efforts to identify and hold accountable those who attempt to exploit our trade system for their benefit.”
The allegations resolved by this settlement arose from a whistleblower lawsuit filed under the False Claims Act by Edward Wisner, a former employee of Grosfillex. Under the False Claims Act, private citizens can sue on behalf of the government and share in any recovery. Wisner will receive a $962,662.74 share of today’s settlement.
The settlement was the result of a coordinated effort between the Civil Division’s Commercial Litigation Branch, Fraud Section, and the U.S. Attorney’s Office for the Eastern District of Pennsylvania, with assistance from CBP.
Trial Attorney Nelson Wagner in the Civil Division’s Commercial Litigation Branch, Fraud Section, and Assistant U.S. Attorney Mark Sherer for the Eastern District of Pennsylvania handled the matter.
The pursuit of this matter illustrates the government’s emphasis on combating fraud, waste, and abuse. One of the most powerful tools in this effort is the False Claims Act. Tips and complaints from all sources about potential customs fraud can be reported to CBP at www.help.cbp.gov/s/tip.
The claims resolved by the settlement are allegations only and there has been no determination of liability.
ATLANTA, July 24, 2025 (GLOBE NEWSWIRE) — Federal Home Loan Bank of Atlanta (the Bank) today released preliminary unaudited financial highlights for the quarter ended June 30, 2025. All numbers reported below for the second quarter of 2025 are approximate until the Bank announces unaudited financial results in its Form 10-Q, which is expected to be filed with the Securities and Exchange Commission (SEC) on or about August 8, 2025.
Operating Results for the Second Quarter of 2025
Net interest income for the second quarter of 2025 was $212 million, a decrease of $29 million, compared to net interest income of $241 million for the same period in 2024. The decrease in net interest income was primarily due to a decrease in interest rates, as well as a decrease in average advance balances during the second quarter of 2025, compared to the same period in 2024.
Net income for the second quarter of 2025 was $141 million, a decrease of $36 million, compared to net income of $177 million for the same period in 2024. The decrease in net income was primarily due to the decrease in net interest income and a $10 million increase in voluntary housing and community investment contributions.
During the second quarter of 2025, the Bank continued to meet members’ liquidity demand and average advance balances were $103.1 billion, compared to average advance balances of $106.6 billion for the same period in 2024.
The net yield on interest-earning assets for the second quarter of 2025 was 54 basis points, compared to 61 basis points for the same period in 2024. Many of the Bank’s assets and liabilities are indexed to the Secured Overnight Financing Rate (SOFR). Average daily SOFR during the second quarter of 2025 was 4.32 percent compared to 5.32 percent for the same period in 2024.
The Bank’s second quarter 2025 performance resulted in an annualized return on average equity (ROE) of 6.43 percent as compared to 8.12 percent for the same period in 2024. The decrease in ROE was primarily due to the decrease in net income for the second quarter of 2025 compared to the same period in 2024.
Financial Condition Highlights
Total assets were $146.4 billion as of June 30, 2025, a decrease of $719 million from December 31, 2024.
Advances outstanding were $90.9 billion as of June 30, 2025, an increase of $5.0 billion from December 31, 2024.
Total capital was $8.3 billion as of June 30, 2025, an increase of $324 million from December 31, 2024. Retained earnings were $2.9 billion as of June 30, 2025, an increase of $88 million from December 31, 2024.
As of June 30, 2025, the Bank was in compliance with all applicable regulatory capital and liquidity requirements.
Reliable Source of Liquidity
During the first six months of 2025, the Bank originated a total of $168.2 billion of advances, thereby providing significant liquidity to its members to support lending and other activities in their communities. The Bank is proud to continue to execute on its mission to be a reliable source of liquidity and funding for its members, while remaining adequately capitalized.
Commitment to Affordable Housing and Community Development
The Bank commits 10 percent of its income before assessments to support the affordable housing and community development needs of communities served by its members as required by law, which amounted to $77 million for the 2024 statutory Affordable Housing Program (AHP) assessment available for funding in 2025. As of June 30, 2025, the Bank has accrued $32 million to its statutory AHP pool of funds that will be available to the Bank’s members and their communities in 2026 for funding of eligible projects.
The Bank has committed to voluntarily contribute, at a minimum, an additional 50 percent of its prior year statutory AHP assessment to affordable housing. For 2025, the Bank authorized $41 million in voluntary housing contributions consisting of $9 million in voluntary non-statutory AHP contributions and $32 million in voluntary non-AHP contributions. These amounts are anticipated to be expensed during 2025.
Since the inception of its AHP in 1990, the Bank has awarded more than $1.2 billion in AHP funds, assisting more than 177,000 households.
Dividends
On July 24, 2025, the board of directors of the Bank approved a quarterly cash dividend at an annualized rate of 6.60 percent.
“Our cooperative model enables FHLBank Atlanta to fulfill our mission of providing reliable liquidity in any economic climate and it fuels our grants for affordable housing and community development,” said FHLBank Atlanta Chair of the Board, Thornwell Dunlap. We appreciate our members’ engagement and are pleased to deliver a strong dividend for the second quarter.”
The dividend payout will be calculated based on members’ capital stock held during the second quarter of 2025 and will be credited to members’ daily investment accounts at the close of business on July 29, 2025.
Federal Home Loan Bank of Atlanta Financial Highlights (Preliminary and unaudited) (Dollars in millions)
Statements of Condition
As of June 30, 2025
As of December 31, 2024
Advances
$
90,867
$
85,829
Investments
54,283
60,084
Mortgage loans held for portfolio, net
84
89
Total assets
146,372
147,091
Total consolidated obligations, net
134,406
135,851
Total capital stock
5,397
5,148
Retained earnings
2,873
2,785
Accumulated other comprehensive loss
(13
)
—
Total capital
8,257
7,933
Capital-to-assets ratio (GAAP)
5.64
%
5.39
%
Capital-to-assets ratio (Regulatory)
5.65
%
5.39
%
Three Months Ended June 30,
Six Months Ended June 30,
Operating Results and Performance Ratios
2025
2024
2025
2024
Net interest income
$
212
$
241
$
419
$
495
Standby letters of credit fees
5
4
9
8
Other income
—
1
1
3
Total noninterest expense(1)
60
50
113
94
Affordable Housing Program assessment
16
19
32
41
Net income
141
177
284
371
Return on average assets
0.36
%
0.44
%
0.37
%
0.47
%
Return on average equity
6.43
%
8.12
%
6.62
%
8.67
%
__________ (1) Total noninterest expense includes voluntary housing and community investment contributions of $20 million and $31 million for the second quarter and first six months of 2025, compared to $10 million and $15 million for the same periods in 2024, respectively.
The selected financial data above should be read in conjunction with the financial statements and notes and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Bank’s Second Quarter 2025 Form 10-Q expected to be filed with the SEC on or about August 8, 2025, and can be obtained at https://corp.fhlbatl.com/who-we-are/investor-relations/ and on www.sec.gov.
About Federal Home Loan Bank of Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank is a cooperative whose members are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district banks in the Federal Home Loan Bank System (FHLBank System).
For more information, visit our website at www.fhlbatl.com.
To the extent that the statements made in this announcement may be deemed as “forward-looking statements”, they are made within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, which include statements with respect to the Bank’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties, and other factors, many of which may be beyond the Bank’s control, and which may cause the Bank’s actual results, performance, or achievements to be materially different from the future results, performance, or achievements expressed or implied by such forward-looking statements, and the reader is cautioned not to place undue reliance on them, since those may not be realized due to a variety of factors, including, without limitation: legislative, regulatory and accounting actions, changes, approvals or requirements; completion of the Bank’s financial closing procedures and final accounting adjustments for the most recently completed quarter; SOFR variations; changes to economic, liquidity and market conditions; changes in demand for advances, advance levels, consolidated obligations of the Bank and/or the FHLBank System and their market; changes in interest rates; changes in prepayment speeds, default rates, delinquencies, and losses on mortgage-backed securities; volatility of market prices, rates and indices that could affect the value of financial instruments; changes in credit ratings and/or the terms of derivative transactions; changes in product offerings; political, national, climate, and world events; disruptions in information systems; membership changes; mergers and acquisitions involving members; changes to the Bank’s voluntary housing program and other adverse developments or events, including extraordinary or disruptive events, affecting the market, involving other Federal Home Loan Banks, their members or the FHLBank System in general, including acts or war and terrorism. Additional factors that might cause the Bank’s results to differ from forward-looking statements are provided in detail in our filings with the Securities and Exchange Commission, which are available at www.sec.gov.
The forward-looking statements in this release speak only as of the date that they are made, and the Bank has no obligation and does not undertake to publicly update, revise, or correct any of these statements after the date of this announcement, or after the respective dates on which such statements otherwise are made, whether as a result of new information, future events, or otherwise, except as may be required by law. New factors may emerge, and it is not possible for us to predict the nature of each new factor, or assess its potential impact, on our business and financial condition. Given these uncertainties, we caution you not to place undue reliance on forward-looking statements.
CONTACT: Sheryl Touchton Federal Home Loan Bank of Atlanta stouchton@fhlbatl.com 404.716.4296