Source: The Conversation (Au and NZ) – By Nick Thieberger, Associate Professor in Linguistics and a Chief Investigator in the Centre of Excellence for the Dynamics of Language, The University of Melbourne
Nick Thieberger
Remember cassettes? If you’re old enough, you might remember dropping one into a player, only to have it screech at you when you pressed “play”. We’ve fixed that problem. But why would we bother?
Before the iPod came along, people recorded their favourite tunes straight from the radio. Some of us made home recordings with our sibling and grandparents – precious childhood snippets.
And a few of us even have recordings from that time we travelled to a village in Vanuatu, some 40 years ago, and heard the locals performing in a language that no longer exists.
In the field of linguistics, such recordings are beyond priceless – yet often out of reach, due to the degradation of old cassettes over time. With a new tool, we are able to repair those tapes, and in doing so can recover the stories, songs and memories they hold.
A digital humanities telescope
Our digital archive, PARADISEC (Pacific and Regional Archive for Digital Sources in Endangered Cultures) contains thousands of hours of audio – mainly from musicological or linguistic fieldwork. This audio represents some 1,360 languages, with a major focus on languages of the Pacific and Papua New Guinea.
The PARADISEC research project was started in 2003 as a collaboration between the universities of Melbourne and Sydney, and the Australian National University.
Like a humanities telescope, PARADISEC allows us to learn more about the language diversity around us, as we explained in a 2016 Conversation article.
Lubing the screech
While many of the tapes we get are in good condition and can be readily played and digitised, others need special care, and the removal of mould and dirt.
We work with colleagues at agencies such as the Solomon Islands National Museum, for whom we recently repaired a set of cassettes that were previously unplayable and just screeched. We’ll be taking those cassettes, now repaired and digitised, back to Honiara in February and expect to pick up more for further treatment.
Screeching happens when a tape is dried out and can’t move through the mechanism easily. The screeching covers the audio signal we want to capture.
In 2019, my colleague Sam King built (with the help of his colleague Doug Smith) a cassette-lubricating machine while working at the Australian Institute of Aboriginal and Torres Strait Islander Studies. This machine – likely the first of its kind in Australia – allowed us to play many previously unplayable tapes.
Last year, Sam built two versions of an updated machine called the LM-3032 Tape Restorator for PARADISEC, improving on the previous model. Between hand building some parts, 3D printing others and writing code for the controllers, it took him more than a year.
The 2024 LM-3032 Tape Restorator is an improved version of a model built in 2019. Sam King
Preserving culture and heritage
The LM-3032 Tape Restorator works by applying cyclomethicone (a silicone-based solvent used in cosmetics) to the length of a tape. This leaves behind an extremely thin film of lubrication that allows smoother playback, making digitisation possible. See more details here.
Tests have shown this process has no negative long-term effects on the tape. In fact, tapes treated with this method five years ago still play without issues.
This technological wizardry allows us to salvage precious analogue recordings before it’s too late. For many languages, these may be the only known recordings – stored on a single cassette, in a single location, and virtually inaccessible. Some of the primary research records digitised by PARADISEC have survived long periods of neglect in offices, garages and attics.
The audio below is from a tape that was kept at Fitzroy Crossing in the Kimberley for 40 years. It features beautiful singing in the local Walmajarri language, with guitar accompaniment. The first seven seconds are from the untreated tape, while the rest is from the treated version.
Singing in Walmajarri, with guitar accompaniment. A side-by-side comparison of a tape treated with the LM-3032 Tape Restorator. CC BY-NC-SA410 KB(download)
Our experience has shown community members truly value finding records in their own languages, and we’re committed to making this process easier for them.
Here’s one testimonial from E’ava Geita, Papua New Guinea’s current acting Solicitor General. In 2015, Geita was overjoyed to hear digitised records capturing PNG’s Koita language:
If only you witnessed and captured the reaction in me going through the recordings at home! It is quite an amazing experience! From feeling of awe to emotion to deep excitement! The feeling of knowing that your language has been documented or recorded in a structured way, kept safely somewhere in the world, hearing it spoken 50–60 years ago and by some people you haven’t seen but whose names you only hear in history is quite incredible. It is most heartwarming to know that it is possible to sustain the life of my language. Thank you once again for the opportunity to listen to the records.
Acknowlegement: I’d like to thank Sam King for the technical information provided in this article.
The Tape Restorator was funded by the School of Languages and Linguistics, University of Melbourne, and by a grant from the Australian Research Council (LE220100010)
Investment in public housing is long overdue. But the current proposal to demolish all 44 of Melbourne’s social housing towers, relocate more than 10,000 residents and redevelop the sites is deeply flawed.
The state government says the old high-rises are being redeveloped to meet modern standards and house more people. But the decision to demolish and rebuild, rather than upgrade, has been challengedrepeatedly.
I coauthored one of the most recent reports from concerned independent architects, urban designers and researchers. Together we argue retrofitting and upgrading existing housing stock, when combined with strategic new building, is technically feasible, cheaper and better for people and the planet.
At the same time, a class action lawsuit is awaiting a legal ruling on whether the government should be forced to release documents justifying demolition over retrofitting.
We know retaining and reusing existing structures saves energy and other resources, ultimately reducing greenhouse gas emissions. Across 44 buildings, this could also save around A$1.5 billion in construction costs.
Playing the numbers game
The federal government has set a national target to build 1.2 million homes by 2029. Victoria has a “bold” target to build 800,000 new homes over the next ten years. But how they go about meeting these targets matters too.
Melbourne’s housing commission towers are home to established communities, where connections between people have developed over a long period. This has immense social value.
The 44 towers also represent substantial embodied carbon. This is the carbon dioxide (CO₂) already emitted in extracting, manufacturing, transporting, installing and eventually disposing of existing concrete, bricks and other reusable materials.
Our analysis of one tower at Atherton Gardens estate revealed a potential saving of 16,000 tonnes of CO₂ through retrofitting. Multiplying this by 44 adds up to more than 700,000 tonnes – roughly equivalent to taking 150,000 cars off the road.
Taking tips from overseas
Overseas, similar postwar housing precincts have been updated and redeveloped in a more careful, considered way. Residents have even been able to stay in place while improvements are made. Such approaches incorporate a mix of renovation and retrofitting of existing buildings, combined with new infill and upgrades to public open spaces.
This approach integrates the precincts into the surrounding city and upgrades facilities to contemporary standards – without wholesale disruption and dislocation of the residents and their established communities.
It’s hard to know whether this work was considered during the decision-making process. The Victorian government and its housing agency Homes Victoria have so far refused to release the relevant reports or documents explaining their reasoning.
Such lack of transparency and consultation led to the launch of the class action. Residents at the Flemington and North Melbourne Estates have come together to argue their human rights were not considered when the decision to demolish their homes was made.
Two reports provide independent analysis
Filling the void, professional groups have undertaken two separate independent studies on a pro-bono basis. These reports analyse the different options based on the available information.
I helped compare three scenarios for a 20-storey tower at Atherton Gardens, Fitzroy. The research analysed two retrofit scenarios for the tower and compared these with a hypothetical equivalent new building.
We established the scope of building works required for each scenario. The team then measured capital cost, embodied carbon and carbon during operation for each case.
We found considerable savings can be made in capital costs (25–30%), embodied carbon (34–36%) and construction time (15–20%) through retrofitting, compared with constructing an equivalent new building.
When multiplied over 44 towers, these savings amount to about A$1.5 billion in raw construction value alone. This is without considering the additional costs of relocating existing residents, providing alternative accommodation during construction, or the social and health and wellbeing costs associated with long-term dislocation of communities.
A separate more detailed report on the Flemington Estate was released in October by charitable not-for-profit design and research practice OFFICE. Both reports independently arrived at very similar solutions for ways to address structural, fire and servicing upgrades.
Breaking down the barriers
Several reasons have been circulated as to why these high-rise towers are unsuitable for retrofitting. The two reports go through each in turn.
The towers are constructed from precast concrete slabs and internal walls are load-bearing. This makes refurbishment difficult, because the majority of walls cannot be moved. The buildings were also designed when the requirement to resist earthquakes was minimal.
A range of other technical hurdles, such as improving acoustic, thermal and fire separation and repairing degraded concrete, would also complicate upgrades. But none of these issues is insurmountable.
Both reports include strategies to address these issues, costed into the estimates. For example, the cost of strengthening to meet earthquake codes has been estimated as $1.73 million in Flemington and $3.85 million for Atherton Gardens. That’s around 3.7% of the total $105 million estimated construction cost for a single Atherton Gardens tower.
Exploring alternatives
The fact a building does not meet current regulatory standards is not in itself a reason for demolition. More than 80% of the city’s buildings would fail to meet these standards, including everything built in the 19th and 20th centuries. Our building codes recognise the value of existing structures and have provisions for renovation scenarios.
Retention and reuse of existing building fabric can achieve results surpassing current legislative standards while minimising waste, retaining the value of existing embodied carbon, and retaining the fabric, character and social memory of the city in the process.
Retrofitting can also avoid the mass displacement of existing residents, who would otherwise need to be accommodated during the construction phase. For instance, construction can allow refurbishment on a floor-by-floor basis, minimising relocation time for residents.
With the right design, skilled consultants, and genuine care for residents, it’s possible to overcome the barriers typically faced when reusing existing building stock.
I am grateful to Simon Robinson of OFFICE for his contributions to this article.
Source: United States Senator for Commonwealth of Virginia Mark R Warner
WASHINGTON – Today, U.S. Sen. Mark R. Warner (D-VA), Vice Chairman of the Senate Select Committee on Intelligence, released the following statement on reports that Trump administration is forcing out a large number of senior Federal Bureau of Investigation (FBI) personnel:
“At a time when we are facing a multitude of threats to the homeland – from terrorism and espionage to drug trafficking and Salt Typhoon – it is deeply alarming that the Trump administration appears to be purging dozens of the most experienced agents who are our nation’s first line of defense.”
New Zealand’s superannuation is no longer enough to live on for the country’s retirees. Research has found people need hundreds of thousands in savings to live a comfortable life after work.
But the KiwiSaver scheme, introduced in 2007 to encourage New Zealanders to build their retirement savings, continues to be a political football. Since its creation, there have been multiple tweaks to the scheme, threatening to undermine its core purpose: supporting New Zealanders in their retirement.
In late 2024, the government proposed changes that would make it easier for KiwiSaver managers to invest in private assets.
But the changes required to enable investing in private assets – such as reduced transparency around fees – are concerning and may not be worth the limited benefits it would bring to KiwiSaver members.
Expanding KiwiSaver
At the moment KiwiSaver managers predominantly invest in publicly traded assets, specifically stocks and bonds.
The changes would open up KiwiSaver investors to a wide range of opportunities such as infrastructure projects (for example, toll roads), unlisted companies (KiwiBank has already been suggested by one provider) and property investments, among others.
Increasing private asset exposure from the current 2-3% of funds under management to a level similar to Australian super funds (15%+) could unlock significant investment for infrastructure or business capital.
But while there is definite appeal in using more KiwiSaver money to build roads and other essential infrastructure, the benefits to investors may be more modest.
The Ministry of Business, Innovation and Employment argues private assets may increase fund returns and should reduce risk for investors by reducing fund exposure to stock and bond markets.
But to achieve these possible outcomes KiwiSaver members risk being locked into a fund provider or having their funds split across providers when they opt to move. There is also the concern that transparency around the fees being charged by managers could worsen.
Gumming up the works
The advantage of the current system of investing in publicly traded assets is that they are relatively cheap to trade, can be bought or sold quickly and their market value is constantly known.
Private assets are none of these things.
Fund managers are currently required to release your funds within ten days when you opt to switch manager. Large investments in private assets that can not be sold quickly, or even worse, may be distressed (where the value is currently significantly below what it was bought for), could create a liquidity issue for a fund if a lot of investors decide to switch.
To encourage managers to invest in private assets the proposed changes would allow your existing fund manager to hold onto a portion of your investment until private assets could be liquidated if they deemed it in your best interest.
Essentially, you may have to stay with a fund manager for an indeterminate period even if you want to change, presumably while still paying them fees on the funds they are looking after.
New Zealand’s retirees rely on KiwiSaver to top up insufficient superannuation payments. Stramp/Shutterstock
Hiding fees
The government’s changes also suggest allowing managers to change the way the fees they report is calculated.
To encourage managers to invest in private assets, the government has proposed allowing them to exclude the costs associated with private assets from their reported fees. Why? Because private asset investing is significantly more expensive.
Managers may need to build specialised teams to evaluate private asset investments. There are substantial costs (consultants, lawyers, experts etc) incurred when evaluating these investments in the same way that a home buyer faces costs such as builder and valuer reports.
Additionally, managers will need to hire valuers periodically to reevaluate the value of the assets, resulting in more costs.
Removing private asset costs from disclosures will make it harder for New Zealanders to compare the fees on different funds.
Multiple other problems
Several other problems also exist with the plan.
The KiwiSaver market is relatively fragmented with 21 providers, nearly half of which manage less than NZ$1 billion in assets. Many private asset investments would require tens of millions, which means funds run the risk of becoming heavily exposed to just a few large investments. Only a handful of funds currently have the size to effectively use private assets to reduce investor risk.
There is also the difficulty in valuing private assets. Valuers can provide a best guess, but it will depend largely on what the market is willing to pay at the time you come to sell.
What is also unclear is how the value of private assets will be reflected in the unit prices that impact the price at which you buy into or sell out of fund. This introduces yet more opacity to a system that is currently transparent.
KiwiSaver will increasingly become a critical aspect of New Zealanders’ retirement. Changes to it need to be carefully considered and evaluated to avoid undermining confidence in KiwiSaver and to ensure that they support the primary goal, ensuring financial security in retirement. It is not clear that this change meets that threshold.
Aaron Gilbert does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
LONDON, Feb. 02, 2025 (GLOBE NEWSWIRE) — BitconeMine, the leading AI-driven cloud mining platform, is making waves in the cryptocurrency industry by offering a limited-time $10 login mining bonus to new users. The initiative aims to lower the barrier to entry for crypto enthusiasts and provide a seamless, cost-effective way to start earning Bitcoin through cloud mining.
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Disclaimer: This press release is provided by BitconeMine. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in cloud mining and related opportunities involves significant risks, including potential loss of capital. Readers are strongly advised to conduct their own research and consult a qualified financial advisor before making any investment decision.
Afterschool Programs in the Lehigh Valley Get a “BOOST” from the Shapiro-Davis Administration
Three afterschool and summer camp programs in the Lehigh Valley will be able to expand, helping to keep kids safe and providing them with enrichment opportunities, thanks to new state funding from the Shapiro-Davis Administration.
State and local officials visited the Casa Guadalupe Center in Allentown today to celebrate the new “Building Opportunity through Out-of-School Time” (BOOST) initiative, which is providing $11.6 million in grants to 46 programs (44 local and two statewide) across the Commonwealth.
“Investing in afterschool programs isn’t just the right thing to do – it’s the smart thing to do,” said Lt. Gov. Austin Davis, who leads the Pennsylvania Commission on Crime and Delinquency (PCCD). “The return on investment for these types of programs is somewhere in the neighborhood of $7 for every dollar invested. In addition, there’s huge demand – for every kid who is enrolled in an afterschool program, there are four more waiting to get into one.”
Speakers Include: Casa Guadalupe Executive Director Lucy Delabar Casa Guadalupe Education Director Andrea Wilson Rep. Mike Schlossberg Sen. Nick Miller Rep. Josh Siegel Mayor Tuerk Casa Guadalupe student Amir Abril Casa Guadalup Board President Julio Guridy
J’JO35, the project’s premier solution, is an index of the top 35 cryptocurrencies by market capitalization. This index provides users with a simplified way to invest in digital assets through a strategy focused on minimizing risk.
SINGAPORE, Feb. 02, 2025 (GLOBE NEWSWIRE) — J’JO Finance, a user-centric solution for risk-minimized crypto investing, launches “Market Segment Indexes,” its’ latest feature enabling users to customize their digital asset indexes. This solution offers users, particularly retail investors, a flexible tool to build their own crypto-investing strategy by hand-picking the specific tokens for their portfolio and determining specific allocations per currency.
For new users and retail investors, investing in digital assets can be overwhelming for several reasons. As a nascent industry known for its drastic price swings, crypto investing usually requires a solid understanding of technical jargon and the know-how to navigate a complex landscape of digital wallets and exchange platforms. This learning curve also presents challenges in finding reliable information needed for informed investment decisions. Furthermore, the ever-changing market conditions require investing a lot of time while constantly learning about new technologies with a vast ecosystem, meaning that no matter how much time spent, most users won’t ever fully understand what they are investing in.
J’JO’s core product is the J’JO35 index which provides users with a stable and diversified portfolio of the top 35 cryptocurrencies based on market capitalization, automatically rebalancing each month. New users only need an existing exchange account with one of the supported centralized exchanges to invest in the index. Included among these exchanges are Kraken, Binance, KuCoin, ByBit, Gate.io, and OKX. Users can choose any cryptocurrencies from any of the more than 11 supported centralized exchanges, allocating their funds however they see fit. J’JO automatically manages user funds via an API but never controls custody of the funds, nor will it transfer or withdraw them from an exchange.
By introducing the Market Segment Indexes feature, J’JO aims to expand its user-oriented ecosystem by offering savvy investors greater control over their investing strategy. This feature allows users to not only build customized indexes based on preference but also create an index from a preset based on the market segment, such as DeFi, AI, real-world assets, etc. Market Segment Indexes also enables experienced investors who recognize the potential of a specific segment to leverage J’JO’s dynamism and adaptability to try to maximize their profits. Of course, this approach can provide greater profit potential, but at a higher risk.
J’JO is free for investments of up to $500 as part of its mission to help onboard new users and get them acquainted with the service and empower them to invest confidently and in an informed manner. JJO’s Light plan costs $140 a year, offering unlimited investing amounts while allowing a single user to connect to up to three supported exchanges. Its Pro plan, priced at $188 a year, enables unlimited connections to supported exchanges while granting users access to the new Market Segment Indexes feature. Pro plan users also receive advanced analytics tools to track and compare returns.
“At J’JO we aim to provide a sustainable and secure mechanism for crypto users with the intent of being the primary tool for investing and managing their peer-to-peer finances,” says Andrei Ponomarev, Co-Founder of J’JO. “Market Segment Indexes allows experienced investors to fine-tune their strategies and maximize profits through their market knowledge and valuations. While this new feature enables investors to take more initiative, our top-35 index remains our core offering, providing new users and non-crypto natives with a diversified and user-friendly investing solution. By spreading their investments across the top 35 projects, users avoid putting all their eggs in one basket and don’t have to study blockchain theory or analyze hundreds of projects and market trends to make smart decisions.”
About J’JO: Founded in 2020 and based in Singapore, J’JO offers the J’JO35, an index of the top 35 cryptocurrencies in the market. The service connects users to their exchange of choice and balances their portfolios according to the index. As the S&P 500 of the decentralized economy, J’JO is a service for investing in a market index of cryptocurrencies that allows users to maintain full control over their assets. Since 2020, J’JO35 has outperformed Bitcoin and Ethereum and has an APY of 67 percent. For more information, visit: https://jjo.finance/en
Disclaimer: This content is provided by jjo.finance. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.
. Gov. Kelly Announces Winners of 2nd Annual New Venture Competition
LINCOLN, NE – Lieutenant Governor Joe Kelly awarded prizes to three teams of aspiring college entrepreneurs through the 2nd Annual Nebraska Governor’s New Venture Competition. Awardees were announced during Thursday’s Nebraska Business Hall of Fame banquet at the Lincoln Marriott Cornhusker Hotel. Ten teams were selected as semi-finalists. The winners, prize amounts and a description of each project follow:
First Place: Golden Garden Compost, UNO, $20,000 prize
Golden Garden Compost creates premium organic compost for home gardeners using efficient production and innovative marketing to maximize profits.
Second Place: brAIn Rot, UNL, $15,000 prize
brAIn Rot is an educational platform that helps developers enhance their coding skills by solving real world puzzles and competing in coding contests.
Third Place: IndoFilm, UNL, $10,000 prize
InfoFilm helps share the impactful stories within the agriculture industry through videography, product photography, branding photography and social media management.
“This program is a great opportunity to publicize and support Nebraska-based ideas with world-changing potential,” said Lt. Gov. Kelly. “This year’s pool of finalists brought a variety of ideas to impact education, healthcare, agriculture, AI and other significant areas. They are risk takers willing to put in the long hours for the potential rewards of starting a new venture and watching it blossom.”
Governor Jim Pillen created the competition in 2023 to showcase and encourage student-led entrepreneurship. The competition is designed for contemplated and pre-seed businesses. Applicants must designate how their business falls into one of nine industry tracks: Agtech, Fintech/Insurtech, Cleantech, Advanced Manufacturing, Biotech/Healthtech, Emerging Media Arts, Sportstech, General Tech and the Bioeconomy. Submissions must have been received by Dec. 15, 2024.
This year, 15 teams – including undergraduate and graduate students – submitted proposals. Participating teams hailed from the University of Nebraska – Lincoln (UNL), University of Nebraska – Omaha (UNO), University of Nebraska – Kearney (UNK) and Metro Community College (MCC). The 15 teams made their initial pitch virtually to a panel of judges representing Flyover Capital, Nebraska Innovation Labs, Nelnet Ventures, Redbud VC and Tech Nebraska. Judges evaluated each project and whittled the group to 10 semi-finalists.
“Starting a business is hard enough but starting a business while also attending college is extremely challenging due to time constraints and academic obligations,” said Dan Hoffman, CEO of Invest Nebraska. “Nebraska’s entrepreneurial ecosystem of startup founders, funders, and service providers are excited to mentor and support these young teams as they begin their entrepreneurial journey.”
Semi-finalist teams were mentored leading up to their final project presentation yesterday during the Nebraska State Chamber of Commerce annual meeting. The judges, from Lincoln Partnership for Economic Development, MOVE Venture Capital, Nelnet, Nave Analytics, Nebraska Public Power District andWorkshop, selected the awardees.
“I appreciate that Governor Pillen is prioritizing entrepreneurship as a key economic development strategy,” said Nebraska Department of Economic Development (DED) Director K.C. Belitz. “The New Venture Competition is a great way to showcase and encourage the inventiveness of Nebraska’s rising generation. Across the state, we’re building an entrepreneurial ecosystem to support young Nebraskans in turning their ideas into successful businesses.”
“Congratulations to the 15 teams of students who shared their ideas for pursuing an entrepreneurial opportunity and competed in the New Venture Competition,” added Nebraska Chamber President Bryan Slone. “We’re always excited to support the next generation of Nebraska business professionals and it was exciting to watch these young entrepreneurs reach new heights.”
Sponsors for the New Venture Competition include the Nebraska Chamber of Commerce & Industry, Nebraska Public Power District (NPPD), Omaha Public Power District (OPPD), Invest Nebraska, Nebraska Diplomats, Nebraska Economic Developers Association (NEDA) and the Nebraska Department of Economic Development (DED).
For more information about the Governor’s New Venture Competition, visit the contest’s website: https://negovnewventure.com.
First Place Team Golden Garden Compost of the University of Nebraska – Omaha
Second Place Team brAIn Rot of the University of Nebraska – Lincoln
Third Place Team InfoFilm of the University of Nebraska – Lincoln
Topics: NDIS; Foundational Supports; The Budget, Antisemitism; Nature Positive bill; Peter Dutton’s proposed investor visa.
ANDREW CLENNELL, HOST: Joining me live is the new NDIS Minister. She replaced Bill Shorten about a month ago, Amanda Rishworth, thanks for your time. Let me start with this news I’ve just revealed. Can you tell us what is the nature of the one-year deal being offered by the PM on Foundational Support money for the NDIS and why is it being tied to the hospital agreement?
AMANDA RISHWORTH, MINISTER FOR THE NATIONAL DISABILTY INSURANCE SCHEME: Firstly, I would say it’s not new that we are working with the states and territories to develop Foundational Supports. In fact, I have been working with my counterparts to work out the design of Foundational Supports, what they might look like and how we might go forward on that in terms of the agreements with states and territories. There are a lot of agreements with states and territories that our government is progressing. Certainly, the health reform is one of those. NDIS reform is another one. So, there is a lot of agreements to land with states and territories and what I’ve been doing is working very hard to put some meat on the bones about what we would be funding with Foundational Supports.
ANDREW CLENNELL: Well, you say it’s not new. The fact it’s a one-year deal is new, isn’t it, that you’re looking at?
AMANDA RISHWORTH: We’ve been working towards Foundational Supports for a long time. I’m not privy to the First Ministers negotiations, but I’ve been working very much with the idea of how we stand up supports outside the NDIS that are there to support people that may not need the intensity that the NDIS provides. So, the First Ministers will continue to have their discussions, but I’m certainly working on what Foundational Support looks like. How do we roll those out and how do we make a difference outside side of the scheme so that there are supports available.
ANDREW CLENNELL: Do you expect states to be providing these Foundational Supports by mid-year as envisioned? Are the states fair dinkum about this or could the deal just collapse?
AMANDA RISHWORTH: It’s never been expected that all the Foundational Supports would be stood up this year. Indeed, as the review outlined, they will have to be rolled out in a progressive way. But we’ve had good cooperation with states and territories. Just one example of a system change that we have with South Australia, for example, is what’s called the Inklings program. And the idea of that is to provide intervention before there is a diagnosis to ensure that children are put on a strong developmental pathway and don’t need the NDIS. There is already work being done around what these systems look like outside the NDIS. But we’ll keep working with the states and territories to start sending these supports up.
ANDREW CLENNELL: What money are you proposing to give the states to deliver these services which can act as a NDIS substitute? Is there a danger of just cost shifting from the NDIS or are there going to be real savings here?
AMANDA RISHWORTH: Let’s be clear. The NDIS is a joint endeavour by states and territories and the Commonwealth, and they co-govern. But what we’re talking about, and the review made it clear, is that for some people, for some children as well, that may have developmental delay, they might be served outside of the scheme with lower intensity supports. So, they don’t require the full individualised plan that is provided by the NDIS. And just in the nature of the way the supports will be delivered, they will be a lower cost. But I have to say, Andrew, when it comes to sustainability of the NDIS, Foundational Supports are not the only element that goes to sustainability. There is a lot of work we’ve been doing and will continue to do to improve the sustainability of the scheme and to hit that 8 per cent growth target which we are on track for.
ANDREW CLENNELL: I’m told, in terms of saving money through the Foundational Support one example is the Federal Government would want schools to have a staff speech pathologist, for example, rather than have say 10 private speech pathologists visit schools to see students one on one. Is that a good example of what you’re trying to achieve here?
AMANDA RISHWORTH: I don’t want to be so prescriptive because we’re still working through it, but a good example would be if a child might have some fine motor delay. Rather than an individualised plan that has a range of different supports they might be serviced with, for example, some adaptive technology like some specialised cutlery that helps them with their fine motor skills and perhaps some periodic OT input rather than a full individualised plan that gets reassessed and re put in place every single year. So, they are the types of things that we are looking at. How do you provide much more targeted, much more often episodic or periodic interventions that do not require this sort of individualised plan. I don’t think anyone accepted that for children with developmental delay that they would have an individualised plan for a lifetime. That certainly was not the vision for the scheme which is for significant and permanent impairment. So, we’ve got to work and identify these. Things look different in different states and that’s why systems are different in different states, and we will be working with each state and territory about what that looks like and how it might be delivered.
ANDREW CLENNELL: How did we get to the point where something like 35 per cent of people on this scheme have autism? Could there be closer scrutiny of who gets this support? When this scheme was set up, it was for people with significant and permanent disability. There was even an ANU study in 2023 which suggested there were more autism diagnoses in this country and that could be linked to accessing the NDIS.
AMANDA RISHWORTH: What the review said, Andrew, was that with the NDIS the only level of support, I think the review said is the only lifeboat in the ocean. Of course it has led to people gravitate to get support. That is partly what I said Foundational Supports are about. It’s also partly that there are two pathways in the NDIS. Firstly, the permanent and significant pathway and then there’s the early intervention pathway. And for me, I want to make sure that the early intervention pathway is making a difference, that it is evidence based and that we are seeing interventions that improve the developmental trajectory of a child, so that they don’t need to, on an ongoing basis, actually rely on the NDIS. The NDIS was never designed that it would be diagnosis driven. It was about functional capacity and what supports you need. We need to get back to having a focus on that and also make sure for those that may need a lower intensity of support, that it’s out there in the broader community through different service systems. And that’s what we’re working to. And quite frankly it’s been really left to drift under the previous government. There wasn’t the sustained focus. Now Former Minister Shorten had a sustained focus on this and I will continue that.
ANDREW CLENNELL: When Julia Gillard rose in the Parliament to announce this scheme, she said there were more than 400,000 people living with significant and permanent disabilities. And then 13 years later, we have 650,000 participants of the scheme. How many people do you envisage in say three to five years being on this scheme?
AMANDA RISHWORTH: I don’t have those projections, but I have to say what’s driving the scheme is or the costs in the scheme is not only the number of participants on the Scheme. It has been identified that intra-plan inflation also has an impact on the fiscal elements of the Scheme. So, while numbers are important, we’ve got to make sure that eligibility is correct and that it’s significant and permanent. And the supports put in place are about supporting people with supports that are reasonable and necessary. It is not just the numbers that are driving the cost. Here we had a situation where we’ve put some new rules in place to be clear about what’s funded and what’s not. There were grey areas about what is funded, what was not, and so we were seeing some confusion around that. We’ve put very clear guidelines now about what should be funded and what shouldn’t be funded. We’ve also put some clear guidelines about how people manage their budgets and their plans, and also make sure, for example, that there isn’t service providers gouging participants. It’s taken a lot of work to look at how we bring these costs down. Just to give you an example, 2021-22, when the previous government was in charge, there was a 23 per cent growth in the cost of the scheme. 2024-25 we have been able to bring that down to about 12 per cent.
ANDREW CLENNELL: It’s still 12 per cent. Your target’s eight per cent. Let me ask you this, I appreciate your point on the numbers, but Julia Gillard spoke about 400,000. We’ve now got 650,000. Could you envisage a million Australians being on the NDIS? Because it looks like we’re headed that way.
AMANDA RISHWORTH: I don’t think that’s right to characterise the trajectory. I’ll just give you an example. Recently, the numbers were revised of the number of Australians living with disability in this country, and it’s 5.5 million people. So, if we look at the numbers that are on the NDIS, it is certainly not all people living with disability in Australia. And of course, that 5.5 million had been revised, up from over 4.5 million. So, we are seeing the trajectory of people reporting disability increase in this country across the board. Not all of them are on the NDIS. In fact, only a small proportion of people are getting support from the NDIS. And that’s why we’ve got to be continuing to work hard to look at what other supports we can give people to make sure that they don’t need necessarily the NDIS but can get support elsewhere.
ANDREW CLENNELL: Peter Dutton’s spoken about cutting 36,000 public servants. Your predecessor, Bill Shorten, won the budget support to hire another 1,000 public servants in a bid to get the NDIS under control. In particular to look at eligibility for the scheme, what progress have they so far made and what sort of people are now being rejected from the scheme that were being accepted?
AMANDA RISHWORTH: I need to be clear in terms of the early intervention pathway, there has always been a reassessment at six years of age and nine years of age, because we’re hoping, of course, that the early interventions has made a difference and those children do not require the scheme anymore. Thee work that’s been undertaken is to make sure that those reassessments have happened. When Peter Dutton talks about cutting public servants, what he’s saying is he doesn’t want those reassessments to happen. He doesn’t want to make sure that plans are done efficiently, effectively and quickly. Is he planning to cut the Fraud Fusion Task Force? Because there was no focus on fraud in the NDIS previously. That requires people from across agencies to make sure that taxpayers money is spent correctly and is not gouged. When it comes to my other hat as Social Services Minister, is he talking about pensioners waiting on the phone for longer? These are frontline public servants that are making a difference. But importantly, when it comes to the NDIS, paying attention to all these elements that the previous government dropped, whether it’s fraud, whether it’s reassessment, whether it’s proper efficient planning, whether it’s responsiveness when people have a query, they are the public servants that Peter Dutton is talking about.
ANDREW CLENNELL: I just want to get through a couple more things. When it comes to a possible budget, we don’t know if it’s happening or during the election campaign the PM, Treasurer and Finance Minister have flagged more cost-of-living assistance. I ask you, in your social services portfolio, do you expect to be promising more in terms of rental assistance or in terms of welfare benefits or pension payments?
AMANDA RISHWORTH: We’ve been working through the budget process and Andrew; you’ll be not surprised. I won’t be announcing what will be in the budget here today, but when it comes to supporting people with cost of living, it’s clear. Two rent assistance increases that have led to the largest rent assistance in over 30 years. Of course we’ve increased other payments, we’ve improved arrangements for the pension, supporting pensioners with cost of living, we’ve supported more pensioners onto the concession card, helping them with cost doctors. Of course, there’s been medicines and a range of other cost of living measures. So, we’ve got a strong record when it comes to supporting people right across the board, including our tax cuts. Look, I’m going to say watch out on budget night. I know you’re an avid watcher of the budget and all will be revealed on budget night.
ANDREW CLENNELL: It sounds like you think there is a budget, Amanda Rishworth. I’m not so confident we’ll see in good time. I wanted to ask now about but this issue of the anti-Semitic attacks and the criticism of the Prime Minister in terms of either he didn’t get briefings, and he should investigate it. That’s what Peter Dutton and the opposition say. Or another version I’ve heard is he’s hearing things but not broadcasting them. There Is a fine balance here, isn’t there? Could it be politically detrimental for the Government if he doesn’t look on top of it? The Prime Minister?
AMANDA RISHWORTH: I think this is a ridiculous criticism from Peter Dutton and just shows that all he wants to do is play politics with what is a really serious issue. It is unacceptable that there are people of Jewish faith feeling unsafe in this country. But for the Government it is about being responsible in making sure people are actually safe, not playing politics. And I have to say, ensuring police and security agencies, can do their job and keep the community safe should be, in my view, the number one outcome we all want to see. So, if the leader of the Opposition just wants to play politics with this then he should be condemned, quite frankly, because it is about what leads to safety in our community. That should be a priority of every member of Parliament.
ANDREW CLENNELL: Health Minister Mark Butler made an announcement Friday concerning the establishment of an inquiry into the use of gender changing medicine. Is this a bid to head off Peter Dutton doing a Donald Trump on this issue this year?
AMANDA RISHWORTH: These guidelines have not been reviewed since 2018. It is timely that the guidelines be reviewed with the most up to date evidence, particularly when we’re talking about children. As a mum I would like to know that the guidelines are absolutely up to date, we’ve got proper medical evidence on the table and that young people in this country are getting the best possible medical care. So, it is timely that the evidence is looked at, that the input from research is added and that we have the most up to date medical guidelines in this country.
ANDREW CLENNELL: The Nature Positive bill, it looks dead in this term of Parliament. The Prime Minister is going to pull it. I understand?
AMANDA RISHWORTH: I think it’s clear that The Greens keep making more and more extreme demands. Peter Dutton has been incredibly oppositional to this will not even engage. This is despite the Samuel review identifying that both businesses wanted faster approvals, and we needed stronger protections for our environment. But with this type of opposition and people not willing to have discussions and make compromises, I think it’s clear that we won’t be able to pursue this piece of legislation in the Parliament.
ANDREW CLENNELL: What do you make of these comments by Peter Dutton at a fundraiser that he might reintroduce this significant investor visa and him trying to re-establish relations with the Chinese Australian community?
AMANDA RISHWORTH: I would say when it comes to migration, it just shows Peter Dutton likes to talk a lot of political game. But when it comes down to taking action, he failed to support our legislation to put a cap on international students. After being lobbied against that, he has now signalled that he will bring back a visa that we abolished. It really does show that he’s not serious when it comes to tackling our migration system. But we shouldn’t be surprised because he left it in a complete mess when he was in charge. And of course, you know, we’re getting down to the political season. You know, there’ll be a lot of political statements made clearly in the leader of the opposition’s case, it is contradictory from one day to the other, but that’s politics and that’s an election season.
ANDREW CLENNELL: We’ll have plenty more of it. Amanda Rishworth, thanks so much for your time.
Washington, DC: Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), issued the following statement today after news of the death of Mr. Horst Köhler, former IMF Managing Director:
“It is with great sadness that we have learned of the passing of Horst Köhler, who was the eighth Managing Director of the Fund and ably led our institution between 2000 and 2004. Mr. Köhler will be remembered for his many contributions, and in particular for navigating the Fund’s work through the difficult period after September 11, 2001. He mobilized the Fund and the international community to help the low-income and heavily indebted members, championing greater transparency and strong governance.
“During his distinguished career, he played a key role in Germany’s unification in 1990 as Deputy Finance Minister of the Federal Republic of Germany and was instrumental in drafting the legal framework for the introduction of the euro. He served as president of the European Bank for Reconstruction and Development, before joining the IMF as Managing Director. In 2004 he left the IMF to become president of the Federal Republic of Germany, winning the hearts of many for his principled approach. Throughout a large part of his life, he was particularly devoted to drawing the world’s attention to the needs of the African continent – something many of us at the Fund greatly admired.
“On behalf of the IMF, I wish to offer our deepest condolences to Mr. Köhler’s family – his wife Eva, his two children Ulrike and Jochen, and his grandchildren. Mr. Köhler led a life of distinguished public service, and leaves behind a profound legacy of dedication to fairness and justice and an unfailing concern for others.”
Washington, DC: Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), issued the following statement today after news of the death of Mr. Horst Köhler, former IMF Managing Director:
“It is with great sadness that we have learned of the passing of Horst Köhler, who was the eighth Managing Director of the Fund and ably led our institution between 2000 and 2004. Mr. Köhler will be remembered for his many contributions, and in particular for navigating the Fund’s work through the difficult period after September 11, 2001. He mobilized the Fund and the international community to help the low-income and heavily indebted members, championing greater transparency and strong governance.
“During his distinguished career, he played a key role in Germany’s unification in 1990 as Deputy Finance Minister of the Federal Republic of Germany and was instrumental in drafting the legal framework for the introduction of the euro. He served as president of the European Bank for Reconstruction and Development, before joining the IMF as Managing Director. In 2004 he left the IMF to become president of the Federal Republic of Germany, winning the hearts of many for his principled approach. Throughout a large part of his life, he was particularly devoted to drawing the world’s attention to the needs of the African continent – something many of us at the Fund greatly admired.
“On behalf of the IMF, I wish to offer our deepest condolences to Mr. Köhler’s family – his wife Eva, his two children Ulrike and Jochen, and his grandchildren. Mr. Köhler led a life of distinguished public service, and leaves behind a profound legacy of dedication to fairness and justice and an unfailing concern for others.”
Source: People’s Republic of China – State Council News
BELGRADE, Feb. 1 — The Lajkovac-Valjevo motorway in Serbia, built by China’s Shandong Hi-Speed Group, was officially inaugurated on Saturday, marking the full completion of the main route.
The motorway will open to traffic on Sunday.
Serbian Prime Minister Milos Vucevic, Minister of Public Investments Darko Glisic, and Chinese Ambassador to Serbia Li Ming attended the ceremony and delivered speeches.
Vucevic described the motorway as a “road of hope, promise, and solutions,” emphasizing that its completion ends the isolation of Valjevo and the entire Kolubara District.
Glisic highlighted the project’s role in the region’s development, stating that it will attract investment and boost local incomes.
Li Ming praised the Chinese construction team for overcoming challenges to complete the project on schedule with high quality.
He expressed confidence that the road’s opening will spur economic growth and attract investment along its route. He also voiced hope for future cooperation in building more such roads.
Spanning 18.3 kilometers, the motorway, with a design speed of 100 kilometers per hour, links the central-western Serbian cities of Valjevo and Lajkovac. It is expected to ease traffic congestion and further enhance Serbia’s transport network.
ROAD TOWN, British Virgin Islands, Feb. 01, 2025 (GLOBE NEWSWIRE) — Investing in projects that are on the forefront of AI and blockchain innovations offers tremendous growth potential. Analysts estimate that Ozak AI, an AI-powered blockchain project, might grow 10x or higher by 2025 end. The project has already achieved considerable traction. Because of its predictive technology, Ozak AI has gained significant recognition in the cryptocurrency sector. The platform’s real-time data analysis and forecasting capabilities are made possible by artificial intelligence and decentralized networks.
Diverse Ecosystem Offerings
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One of the main features of Ozak AI is Prediction Agents, which allow users to create their own AI models for predicting market movements, analyzing risks, and formulating investment strategies. Data inputted into the systems is guaranteed to be accurate, tamper-proof, and trustless by means of OSN – Ozak Stream Network. Utilizing the most distributed DePIN, OSN is able to offer you the highest quality data.
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$OZ at the Heart of the Ecosystem
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The $OZ tokens are distributed in a fair, transparent, and balanced manner to support the growth and sustainability of the ecosystem.
In a lifetime, only 10 Billion $OZ can be minted. Part of the key economic strategy is a supply that is deflationary. A portion of the token allocation goes toward presale and public sale events, some reserved for platform development, incentives for teams and communities, and rewards for strategic partnerships.
Massive Presale Success and Poised for Rapid Growth
The success of the platform’s presale shows how popular it is among cryptocurrency investors. Amid predictions from crypto analysts that the $OZ token will reach $1 before the end of 2025, the project is close to its funding goal with over $750k raised so far and 52,773,977 $OZ tokens sold during the ongoing presale phase 3. The pricing strategy, which is now in its third phase, has attracted early investors and contributed to significant fundraising efforts and has already offered massive gains for early backers.
It offers a cutting-edge platform that combines blockchain technology with artificial intelligence to provide financial decision-makers with predictive analytics, which is appealing to those looking to maximize return with little risk. Experts anticipate the $OZ token will witness massive gains, and the positive indicators of progress during the ongoing pre-sale period make it worth continuously watching.
About Ozak AI:
Ozak AI is a decentralized network for advanced data analytics and interpretation powered by predictive AI. Ozak AI is unique because it blends decentralized network infrastructure with predictive AI in an innovative way.
Disclaimer: This content is provided by Ozak AI. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.
Source: United States Senator for Washington State Patty Murray
Washington, DC — Today, Senator Patty Murray (D-WA), Senate Appropriations Committee Vice Chair and Subcommittee on Energy and Water Development Ranking Member, and Congresswoman Marcy Kaptur (D-OH-09), Ranking Member of the House Appropriations Subcommittee on Energy and Water Development, wrote a letter to the Acting Secretary of the Department of Energy demanding answers about the Trump administration withholding critical investments to lower energy costs for American families and businesses, spur innovation, and strengthen our energy security.
In the letter, Murray and Kaptur state: “We write expressing deep concerns regarding the Department of Energy’s recent unlawful actions to halt programs that are imperative to the Department’s mission of ensuring America’s security and prosperity by addressing the nation’s energy, environmental, and nuclear challenges through transformative science and technology solutions.”
“The Department’s actions to halt these programs will immediately contribute to rising energy costs for families and businesses, and they are a dereliction of the Department’s responsibility to carry out duly enacted spending laws,” Murray and Kaptur continued.
Murray and Kaptur note that President Trump’s executive order illegally freezing Inflation Reduction Act and Infrastructure Investment and Jobs Act funding is creating unacceptable chaos, confusion, and harm.
In particular, they note that the order and a variety of other actions the administration has taken will hurt American families and businesses: “Stopping these programs is taking money from the pockets of Americans. For example, the Home Energy Rebates programs, funded by the IRA, has been putting money directly back in the hands of American households. The rebates help consumers save money on select home improvement projects that can lower energy bills by providing up to $14,000 per household in rebates. It is estimated that these programs will save households up to $1 billion per year on energy bills and support over 50,000 U.S. jobs. The President’s attempt to freeze the Home Energy Rebates Program means these costs will fall back on American consumers.”
Murray and Kaptur press the Department for answers about what funding it is currently freezing and other actions it is taking to halt critical programs, and concluded: “We hope you will work with us—not against us—to lower energy costs and help create good-paying jobs, but we demand that you follow the law as intended.”
A timeline of President Trump’s actions to freeze critical federal funding is available HERE. Fact sheets detailing how presidents lack power to unilaterally override spending laws and deny enacted funding to communities through impoundment can be found HERE and HERE.
Source: United States Senator for New York Charles E Schumer
After Securing $300,000+ From U.S. Economic Development Administration in 2020, Schumer Pushed For More To Cover Increased Project Costs And Has Now Secured Over $2M In Total Fed Investment
Senator Says Millions In Fed $$ To Upgrade Sherrill’s Electrical Infrastructure Is Key To Unlocking New Shovel-Ready Sites, Attracting New Commercial Development & Supporting New Growth At Legacy Manufacturing Companies In Oneida County
Schumer: Fed $$ Will Help Oneida County Power Commercial & Manufacturing Growth
U.S. Senator Charles E. Schumer today announced he is delivering $1,797,780 in new federal funding to help the City of Sherrill modernize the substation and electrical infrastructure servicing the Silver City Industrial Park, bringing the total federal investment to $2,103,780. The senator explained these critical infrastructure upgrades will help Oneida County and Mohawk Valley EDGE attract new businesses and jobs while continuing to support the growth and prosperity of legacy manufacturers like Sherrill Manufacturing and Briggs & Stratton.
“Bringing new companies to Oneida County starts with ensuring that Silver City Industrial Park is shovel-ready. I’m proud to deliver nearly $1.8 million in new federal funding to upgrade critical electrical infrastructure in the City of Sherrill so we can fuel new commercial investments and catalyze new growth at legacy manufacturing companies in the Mohawk Valley,” said Senator Schumer. “Across Upstate New York, we are seeing a resurgence in manufacturing with Micron’s historic $100+ billion investment in Clay and Wolfspeed’s investment in Marcy thanks to my bipartisan CHIPS & Science Law. The time to prepare for even more investment is now. This federal funding is an essential piece of the puzzle needed to modernize Sherrill’s electrical infrastructure so Silver City can be shovel-ready for businesses to move in and set up shop and legacy manufacturers can continue to grow and prosper in our community.”
Schumer previously helped secure $306,000 for the City of Sherrill’s Project Powerslam in 2020. Unfortunately, the estimated cost of the project more than quadrupled due to the increased cost of construction and labor in recent years, forcing the City to press pause on the project and seek additional funding. The senator pushed the U.S. Economic Development Administration (EDA) for additional federal investment to make up the shortfall and get the project back on track. Schumer said this multi-million dollar strategic investment from the EDA will finally allow the City to upgrade its 50+-year-old “South” substation to provide more reliable, resilient power to Sherill’s business and residential community for decades to come and help pave the way for planned expansion at Silver City Industrial Park. As part of the agreement, the City of Sherrill will contribute approximately $500,000 in matching funds.
The upgraded electrical infrastructure will help provide the reliable power needed for continued growth at legacy manufacturing companies, specifically Sherrill Manufacturing, which is the only American manufacturer of flatware, and Briggs and Stratton, which is a lawn and garden equipment manufacturer. These companies have already brought millions in investments and hundreds of jobs to Oneida County, and the City of Sherrill hopes continued investment in its critical infrastructure will set the stage for these companies to keep growing and for new companies to locate alongside them.
“On behalf of the City of Sherrill, I would like to extend our sincerest thanks to Senator Chuck Schumer for his unwavering support and tireless advocacy in securing millions in Economic Development Administration funding for the City of Sherrill. Alongside the Senator, I would also like to thank the incredible team at Mohawk Valley EDGE for their hard work and commitment throughout the grant process. This funding will play a pivotal role in upgrading our electric distribution substation, supporting not only the long-term sustainability of our power grid but also fostering continued growth and jobs in our region,” said Brandon Lovett, Sherill City Manager. “Thanks to extraordinary collaboration between the Senator, the incredible team at Mohawk Valley EDGE, and the Sherrill community, we are closer than ever before growth and advancement at the Silver City Industrial Park. This project will provide critical infrastructure to support recent growth at existing businesses from Briggs & Stratton to Sherrill Manufacturing, while also paving the way for new investment and economic development in the years to come.”
“Sherrill has seen tremendous industrial development success with companies like Sherrill Manufacturing, Upstate Stone, and Briggs & Stratton expanding in the Silver City Industrial Park, drawing significant attention to the area as a prime location for manufacturers,” said Oneida County Executive Anthony J. Picente Jr. “Thanks to Senator Schumer’s leadership in securing this funding, we can modernize the city’s electrical infrastructure to further support our legacy manufacturers and fuel new investment. The benefit of municipal power in Sherrill is already a major incentive in an otherwise high-cost energy environment, and these upgrades will enhance reliability and capacity, ensuring the city remains a competitive and attractive hub for industry in Oneida County.”
“We at Sherrill Manufacturing and Liberty Tabletop are excited to hear about further investment to improve the infrastructure within the Silver City Industrial Park. As our business continues to grow, updated and reliable infrastructure is critical to our success as the only manufacturer of flatware in the United States,” said Matthew A. Roberts, President and Co-Founder, Sherrill Manufacturing Inc. and Liberty Tabletop. “We would like to once again thank Senator Schumer for his dedication to assisting both legacy and new business in the Mohawk Valley and across New York State. His hard work and partnership will help to ensure that Sherrill, NY can truly continue to be the Silver City.”
Schumer has a long history of fighting for economic development in Oneida County and the Mohawk Valley. Last year, Schumer secured $500,000 for Brownfield’s Community-wide Assessment for MV EDGE to safely clean up and sustainably reuse contaminated properties across Oneida County and to position underused properties like the former St. Luke’s Campus for redevelopment. Last September, Schumer delivered nearly $13 million from his Bipartisan Infrastructure Law for the Oneida Indian Nation to install 50+ new electric fast charging stations in the Mohawk Valley. Last October, Schumer announced a $750 million federal investment in Wolfspeed from his bipartisan Chips & Science Law that will accelerate the company’s ongoing Mohawk Valley expansion and hiring of hundreds of good-paying jobs. In 2023, Schumer delivered $2 million to Mohawk Valley Community College to help create a new semiconductor and advanced manufacturing training center to give the Mohawk Valley workforce the skills and training they need to be prepared for future investment in economic development.
In December of last year, Schumer also announced that he successfully included in the reauthorization of the Economic Development Administration the bipartisan ONSHORE Act to surge more EDA resources into shovel-ready site development. Schumer was able to steer this reauthorization into law at the end of last year. Schumer’s provision creates a new grant program to support site development or expansion projects for manufacturing industries critical to national or economic security, all of which are modeled on the ONSHORE Act. Through this program, EDA will assist with site and utility readiness, workforce development, distribution, and logistics, to prepare strategic mega sites and regionally impactful sites across places like Upstate NY for new industrial investment. The EDA funding will place an emphasis on building up the workforce through training and other support as a key priority for attracting and scaling new employers at these industrial sites, providing new federal resources for the pressing priority of workforce development.
The European Commission on Wednesday presented the Competitiveness Compass, a strategic blueprint aimed at restoring the European Union (EU)’s economic edge and driving technological leadership as it seeks to close the gap with the United States (U.S.) and China.
Acknowledging a two-decade lag in productivity growth compared to other major economies, the Compass focuses on boosting innovation, advancing decarbonization, and strengthening security, according to the Commission’s statement.
This photo taken on Jan. 29, 2025 shows the Berlaymont Building, the European Commission headquarters, in Brussels, Belgium. TO GO WITH “EU unveils plan to boost competitiveness” (Xinhua/Meng Dingbo)
“Europe has everything it needs to succeed in the race to the top. But, at the same time, we must fix our weaknesses to regain competitiveness,” European Commission President Ursula von der Leyen said in the statement.
The Compass builds on a strategic report released last year by Mario Draghi, the former Italian prime minister and former president of the European Central Bank (ECB), which calls for an additional annual investment of between 750 billion euros (779 billion U.S. dollars) and 800 billion euros to counteract Europe’s decline in competitiveness.
The Commission will launch “AI Gigafactories” and “Apply AI” initiatives to accelerate AI development and adoption across key industries, the Compass says. It also promises actions for advanced materials, quantum, biotech, robotics, and space technologies.
A separate report released by the Commission on Wednesday highlighted the EU’s ongoing struggles in scaling up its businesses. This report provides the analytical context for the Competitiveness Compass.
In this regard, the Compass outlines a strategy to remove barriers to facilitate startup growth, and legislative changes to simplify rules.
It also noted the upcoming Clean Industrial Deal to drive decarbonization, a plan for affordable energy to reduce costs, and targeted strategies for high-risk sectors like steel, metals, and chemicals.
To reduce dependencies, the bloc plans to prioritize European companies in critical sectors and technologies under reviewed public procurement rules.
To further underpin the competitiveness, the Compass sets a target of cutting the administrative burden for firms by at least 25 percent and by at least 35 percent for SMEs.
It also proposes measures to lower the barriers to the functioning of the EU Single Market, which has struggled with regulatory fragmentation for decades, and to advance the European Savings and Investments Union project to enhance the EU’s financing competitiveness, despite its slow progress over the years.
Source: Federal Bureau of Investigation FBI Crime News (b)
This image is a screenshot of the updated FBI Ten Most Wanted Fugitive poster for Arnoldo Jimenez, who was captured on January 30, 2025.
The FBI is announcing the capture of Ten Most Wanted Fugitive Arnoldo Jimenez after he was taken into custody without incident in Monterrey, Mexico on January 30.
FBI Chicago, FBI San Antonio, the FBI’s Legal Attaché in Mexico City, and the United States District Court, Northern District of Illinois collaborated to locate Jimenez. He was later arrested by agents of the Fiscalía General de la República (FGR), in conjunction with Interpol. Jimenez will remain in custody pending extradition proceedings.
“The FBI is extremely appreciative of the Burbank Police Department, our law enforcement partners in Mexico, and the public for their tremendous investigative efforts and collaboration in the capture of Ten Most Wanted Fugitive Arnoldo Jimenez,” said Douglas S. DePodesta, special agent in charge of the FBI’s Chicago Field Office. “The FBI will use all of its available resources to bring criminals to justice, no matter how much time has passed or where they may be in the world.”
“The apprehension of Arnoldo Jimenez was the result of the tireless teamwork by the FBI and Burbank Police Department, and we would like to commend the professionalism and dedication of everyone involved,” said Deputy Chief William Casey of the Burbank Police Department. “The FBI and Burbank Police Department were committed to bringing justice for Estrella Carrera and her family.”
On May 13, 2012, Estrella Carrera was found deceased in the bathtub of her apartment less than 48 hours after getting married. Jimenez was charged with first-degree murder by the Circuit Court of Cook County, Illinois, and a state warrant was issued for his arrest on May 15, 2012. A federal arrest warrant was issued by the United States District Court, Northern District of Illinois, Eastern Division, on May 17, 2012, after Jimenez was charged federally with unlawful flight to avoid prosecution.
It’s official. On February 1, US President Donald Trump will introduce a sweeping set of new 25% tariffs on imports from Canada and Mexico. China will also face new tariffs of 10%.
During the presidential campaign, Trump threatened tariffs against all three countries, claiming they weren’t doing enough to prevent an influx of “drugs, in particular fentanyl” into the US, while also accusing Canada and Mexico of not doing enough to stop “illegal aliens”.
There will be some nuance. On Friday, Trump said tariffs on oil and gas would come into effect later, on February 18, and that Canadian oil would likely face a lower tariff of 10%.
This may only be the first move against China. Trump has previously threatened the country with 60% tariffs, asserting this will bring jobs back to America.
But the US’ move against its neighbours will have an almost immediate impact on the three countries involved and the landscape of North American trade. It marks the beginning of what could be a radical reshaping of international trade and political governance around the world.
What Trump wants from Canada and Mexico
While border security and drug trade concerns are the official rationale for this move, Trump’s tariffs have broader motivations.
The first one is protectionist. In all his presidential campaigning, Trump portrayed himself as a champion of US workers. Back in October, he said tariff was “the most beautiful word in the dictionary”.
Trump hasn’t hidden his fondness for protectionist trade measures.
This reflects the ongoing scepticism toward international trade that Trump – and politicians more generally on both ends of the political spectrum in the US – have held for some time.
It’s a significant shift in the close trade links between these neighbours. The US, Mexico and Canada are parties to the successor of the North American Free Trade Agreement (NAFTA): the United States-Mexico-Canada Agreement (USMCA).
Trump has not hidden his willingness to use tariffs as a weapon to pressure other countries to achieve unrelated geopolitical goals. This is the epitome of what a research project team I co-lead calls “Weaponised Trade”.
This was on full display in late January. When the president of Colombia prohibited US military airplanes carrying Colombian nationals deported from the US to land, Trump successfully used the threat of tariffs to force Colombia to reverse course.
The volume of trade between the US, Canada, and Mexico is enormous, encompassing a wide range of goods and services. Some of the biggest sectors are automotive manufacturing, energy, agriculture, and consumer goods.
In 2022, the value of all goods and services traded between the US and Canada came to about US$909 billion (A$1.46 trillion). Between the US and Mexico that same year, it came to more than US$855 billion (A$1.37 trillion).
One of the hardest hit industries will be the automotive industry, which depends on cross-border trade. A car assembled in Canada, Mexico or the US relies heavily on a supply of parts from throughout North America.
Tariffs will raise costs throughout this supply chain, which could lead to higher prices for consumers and make US-based manufacturers less competitive.
There could also be ripple effects for agriculture. The US exports billions of dollars in corn, soybeans, and meat to Canada and Mexico, while importing fresh produce such as avocados and tomatoes from Mexico.
Tariffs may provoke retaliatory measures, putting farmers and food suppliers in all three countries at risk.
Trump’s decision to delay and reduce tariffs on oil was somewhat predictable. US imports of Canadian oil have increased steadily over recent decades, meaning tariffs would immediately bite US consumers at the fuel pump.
We’ve been here before
This isn’t the first time the world has dealt with Trump’s tariff-heavy approach to trade policy. Looking back to his first term may provide some clues about what we might expect.
In his first term, Trump imposed major tariffs on US steel imports. ABCDstock/Shutterstock
Canada and Mexico imposed retaliatory tariffs. Ultimately, all countries removed tariffs on steel and aluminium in the process of finalising the United States-Mexico-Canada Agreement.
This signalled a bipartisan scepticism of unfettered trade and a shift toward on-shoring or re-shoring in US policy circles.
The options for Canada and Mexico
This time, Canada and Mexico’s have again responded with threats of retaliatorytariffs.
But they’ve also made attempts to mollify Trump – such as Canada launching a “crackdown” on fentanyl trade.
Generally speaking, responses to these tariffs could range from measured diplomacy to aggressive retaliation. Canada and Mexico may target politically sensitive industries such as agriculture or gasoline, where Trump’s base could feel the pinch.
There are legal options, too. Canada and Mexico could pursue legal action through the United States-Mexico-Canada Agreement’s dispute resolution mechanisms or the World Trade Organization (WTO).
Both venues provide pathways for challenging unfair trade practices. But these practices can be slow-moving, uncertain in their outcomes and are susceptible to being ignored.
A more long-term option for businesses in Canada and Mexico is to diversify their trade relationships to reduce reliance on the US market. However, the facts of geography, and the large base of consumers in the US mean that’s easier said than done.
The looming threat of a global trade war
Trump’s latest tariffs underscore a broader trend: the widening of the so-called “Overton window” to achieve unrelated geopolitical goals.
The Overton Window refers to the range of policy options politicians have because they are accepted among the general public.
Arguments for bringing critical industries back to the US, protecting domestic jobs, and reducing reliance on foreign supply chains gained traction after the ascent of China as a geopolitical and geoeconomic rival.
These arguments picked up steam during the COVID-19 pandemic and have increasingly been turned into actual policy.
The potential for a broader trade war looms large. Trump’s short-term goal may be to leverage tariffs as a tool to secure concessions from other jurisdictions.
Trump’s threats against Denmark – in his quest to obtain control over Greenland – are a prime example. The European Union (EU), a far more potent economic player, has pledged its support for Denmark.
A North American trade war – foreshadowed by the Canadian and Mexican governments – might then only be harbinger of things to come: significant economic harm, the erosion of trust among trading partners, and increased volatility in global markets.
Markus Wagner receives funding from the Department of Defence, Australia as a Chief Investigator on a project titled Weaponised Trade.
Source: United States Senator for Washington Maria Cantwell
01.31.25
Cantwell: Trump’s New Tariffs Will Drive Up Grocery & Gas Prices, Costs for American Manufacturers
WA consumers will pay the price as Trump chooses to tax goods from Canada and Mexico up to 25%, plus a 10% tax on goods from China
WASHINGTON, D.C. – Today, the Trump administration announced plans to impose a 25% tax on many goods imported into the U.S. from Canada and Mexico, and a 10% tax on goods imported from China, a move that will likely increase prices for consumers across the country, particularly in Washington state.
U.S. Senator Maria Cantwell (D-WA) – who serves as ranking member of the Senate Committee on Commerce, Science, and Transportation, as well as senior member of the Finance and Energy and Natural Resources Committees– issued the following statement:
“President Trump should not start trade wars that hurt American manufacturers, consumers, and farmers, especially when food prices and interest rates are so high. After two weeks in office and lots of executive orders, where are the administration’s ideas to lower costs for American families? Let’s not put 25% tariffs that will increase consumer costs,”Sen. Cantwell said.“Canada and Mexico are already willing to partner with us to fight fentanyl and strengthen border security. I hope the President will work with Congress on opening new markets, growing U.S. exports, and using the EXIM Bank to compete with China, instead of driving up prices at the grocery store and gas pump.I want an export strategy — one that maximizes opportunities to sell American products overseas.“
Two out of every five jobs in the State of Washington are tied to trade and related industries. In 2023, Washington state imported $19.9 billion of goods from Canada – primarily oil, gas, lumber, and electrical power — making our northern neighbors Washington state’s largest trade partner.
Also in 2023, Washington state imported $1.7 billion in goods from Mexico, including motor vehicles, vehicle parts, and household appliances. All of these raw materials and goods will now be subject to a 25% tariff.
A 25% tariff on Canada and Mexico would add an estimated $144 billion a year to the cost of manufacturing in the United States.
Sen. Cantwell has been a champion for Washington state growers and exports. Agriculture and food manufacturing generate more than $21 billion per year and employ more than 171,000 people in the State of Washington. Small and family farms are key contributors, making up 89% and 94%, respectively, of Washington’s farms.
Sen. Cantwell was the leading voice in negotiations to end India’s 20% retaliatory tariff on American apples, which devastated Washington state’s apple exports. In September 2023, India ended its retaliatory tariffs on apples and pulse crops following several years of Sen. Cantwell’s advocacy.
In May 2023, Sen. Cantwell sent a letter urging the Biden Administration to help U.S. potato growers finally get approval to sell fresh potatoes in Japan. In June 2023, Sen. Cantwell hosted U.S. Sen. Debbie Stabenow (D-MI), then-chair of the Committee on Agriculture, Nutrition, and Forestry, in Washington state for a forum with 30 local agricultural leaders in Wenatchee to discuss the Farm Bill.
In 2022, Sen. Cantwell spearheaded passage of the Ocean Shipping Reform Act, a law to crack down on skyrocketing international ocean shipping costs and ease supply chain backlogs that raise prices for consumers and make it harder for U.S. farmers and exporters to get their goods to the global market.
In August 2020, during the height of the COVID-19 pandemic, Sen. Cantwell sent a letter to then-Secretary of Agriculture Sonny Perdue requesting aid funds be distributed to wheat growers. In December 2018, Sen. Cantwell celebrated the passage of the Farm Bill, which included $500 million of assistance for farmers, including those who grow wheat.
In 2019, Sen. Cantwell helped secure a provision in the $16 billion USDA relief package, ensuring sweet cherry growers could access emergency funding to offset the impacts of tariffs and other market disruptions.
VANCOUVER, BC, Jan. 31, 2025 (GLOBE NEWSWIRE) — Eat & Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) (“Eat &Beyond” or the “Company”), an investment issuer focused on the global plant-based and alternative protein sector, is pleased to announce that the Company has entered into a securities exchange agreement dated January 31, 2025 (the “Definitive Agreement”), which sets out the terms and conditions for the acquisition by the Company of 100% of the issued and outstanding shares and 100% of the outstanding warrants in the capital of Milo Media Technologies Inc. (“Milo Media”) in exchange for securities of Eat & Beyond (the “Transaction”).
Pursuant to the terms of the Definitive Agreement, the material terms of the Transaction are as follows:
In consideration for the Transaction and on closing thereof, Eat & Beyond will issue an aggregate of 15,000,000 common shares of Eat & Beyond (the “Payment Shares”) to Milo Media shareholders at a deemed price of $0.185 per Payment Share and will issue 15,000,000 common share purchase warrants (“Replacement Warrants”);
Each Replacement Warrant will permit the holder thereof to acquire one common share in the capital of Eat & Beyond at the price of $0.05 per share for a period of 24 months from the date of issuance (being the same exercise price and expiration of the original warrants surrendered for cancellation); and
There is no hold period for the Payment Shares or the Replacement Warrants pursuant to applicable securities laws.
The Transaction is an arms-length transaction and no change in management or the Board of Directors of Eat & Beyond is being contemplated at this time. The Definitive Agreement contemplates other material conditions precedent to the closing of the Transaction, including, compliance with all applicable regulatory requirements and receipt of all necessary regulatory, corporate, third-party, board and shareholder approvals being obtained, including the approval of the Canadian Securities Exchange. There can be no assurance that the Transaction will be completed as proposed, or at all. No finder’s fees are expected to be paid in connection with the Transaction.
About Milo Media
Milo Media is a private company existing under the laws of the Province of British Columbia. Milo Media has developed cutting-edge financial infrastructure technology designed to seamlessly integrate digital assets with traditional financial networks. Its intellectual property includes:
Advanced Order Routing Software – A dynamic system that optimizes payment pathways on-chain and across the Interledger Protocol (ILP) to maximize liquidity efficiency.
Scalable Infrastructure – A modular architecture designed to handle high transaction volumes, enabling financial institutions to interact with the XRP ledger (XRPL) and other blockchain networks effortlessly.
Liquidity Provisioning & Automated Market Making (AMM) – Proprietary technology that enhances liquidity access within on-chain and ILP networks, ensuring efficient transaction execution.
Compliance & Security Framework – A regulatory framework designed to align with Know-Your-Customer (KYC) and Anti-Money Laundering (AML) requirements and help facilitate adherence to jurisdictional standards.
Strategic Significance of the Acquisition
The acquisition of Milo Media is intended to provide Eat & Beyond with a first-mover advantage as the first publicly traded company – to the best of the Company’s knowledge – to actively participate in the XRPL ecosystem. Milo Media’s financial infrastructure solutions are expected to enable Eat & Beyond to acquire Ripple (XRP) through active participation on the XRP network, akin to how Bitcoin miners earn Bitcoin. This unique model is expected to position Eat & Beyond to generate value directly from the network’s growth and adoption.
“By acquiring Milo Media, Eat & Beyond is hopes to strategically position itself at the forefront of blockchain-powered financial infrastructure,” said Young Bann, CEO of Eat & Beyond. “This move is expected to cement our role as early adopters in the digital asset space, providing shareholders with exposure to the XRPL and Ripple while actively contributing to its expansion.”
About Eat & Beyond
Eat & Beyond is an investment issuer that identifies and makes equity investments in global companies that are developing and commercializing innovative food tech, sustainability and technology. Led by a team of industry experts, Eat & Beyond provides retail investors with the unique opportunity to participate in the growth of a broad cross-section of opportunities in the alternative food, sustainability and technology sectors.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved the contents of this press release.
For further information: For further information, please contact Young Bann, CEO, young@purposeesg.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws.
Caution Regarding Forward-Looking Information
This press release includes certain “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements herein, other than statements of historical fact, constitute forward-looking information. Forward-looking information is frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved.
Forward-looking information in this press release includes, but is not limited to, statements relating to the Company’s business plans and expected future growth, the completion of the Transaction on the terms described herein or at all, the expected benefits of the Transaction, the Company’s future cryptocurrency plans and strategies, the Company’s proposed strategic expansion and growth strategies, the Company’s ability to provide investors with exposure to digital assets, the potential success of the Company’s business and its brand, the growth of XRP and other digital assets and the mainstream adoption of various cryptocurrencies. Forward-looking information reflects the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, technical, economic, and competitive uncertainties and contingencies, including the speculative nature of cryptocurrencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, without limitation, the Company’s ability to execute on its business plans; the Company’s ability to raise debt or equity through future financing activities; the Company’s ability to increase its business in cryptocurrency-based technologies; any adverse changes and developments regarding XRP, XRPL or the cryptocurrency ecosystem; the growth and development of decentralized finance and the digital asset sector; any new rules and regulations with respect to decentralized finance and digital assets; the inherent volatility in the prices of certain cryptocurrencies including XRP; increasing competition in the crypto and blockchain industries; general economic, political and social uncertainties in Canada and the United States; currency exchange rates and interest rates; the limited resources of the Company; the Company’s reliance on the expertise and judgment of senior management and the Company’s ability to attract and retain key personnel; the speculative nature of cryptocurrencies in general; and the Company’s ability to continue as a going concern.
There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.
Source: The Conversation (Au and NZ) – By Markus Wagner, Professor of Law and Director of the UOW Transnational Law and Policy Centre, University of Wollongong
It’s official. On February 1, US President Donald Trump will introduce a sweeping set of new 25% tariffs on imports from Canada and Mexico. China will also face new tariffs of 10%.
During the presidential campaign, Trump threatened tariffs against all three countries, claiming they weren’t doing enough to prevent an influx of “drugs, in particular fentanyl” into the US, while also accusing Canada and Mexico of not doing enough to stop “illegal aliens”.
There will be some nuance. On Friday, Trump said tariffs on oil and gas would come into effect later, on February 18, and that Canadian oil would likely face a lower tariff of 10%.
This may only be the first move against China. Trump has previously threatened the country with 60% tariffs, asserting this will bring jobs back to America.
But the US’ move against its neighbours will have an almost immediate impact on the three countries involved and the landscape of North American trade. It marks the beginning of what could be a radical reshaping of international trade and political governance around the world.
What Trump wants from Canada and Mexico
While border security and drug trade concerns are the official rationale for this move, Trump’s tariffs have broader motivations.
The first one is protectionist. In all his presidential campaigning, Trump portrayed himself as a champion of US workers. Back in October, he said tariff was “the most beautiful word in the dictionary”.
Trump hasn’t hidden his fondness for protectionist trade measures.
This reflects the ongoing scepticism toward international trade that Trump – and politicians more generally on both ends of the political spectrum in the US – have held for some time.
It’s a significant shift in the close trade links between these neighbours. The US, Mexico and Canada are parties to the successor of the North American Free Trade Agreement (NAFTA): the United States-Mexico-Canada Agreement (USMCA).
Trump has not hidden his willingness to use tariffs as a weapon to pressure other countries to achieve unrelated geopolitical goals. This is the epitome of what a research project team I co-lead calls “Weaponised Trade”.
This was on full display in late January. When the president of Colombia prohibited US military airplanes carrying Colombian nationals deported from the US to land, Trump successfully used the threat of tariffs to force Colombia to reverse course.
The volume of trade between the US, Canada, and Mexico is enormous, encompassing a wide range of goods and services. Some of the biggest sectors are automotive manufacturing, energy, agriculture, and consumer goods.
In 2022, the value of all goods and services traded between the US and Canada came to about US$909 billion (A$1.46 trillion). Between the US and Mexico that same year, it came to more than US$855 billion (A$1.37 trillion).
One of the hardest hit industries will be the automotive industry, which depends on cross-border trade. A car assembled in Canada, Mexico or the US relies heavily on a supply of parts from throughout North America.
Tariffs will raise costs throughout this supply chain, which could lead to higher prices for consumers and make US-based manufacturers less competitive.
There could also be ripple effects for agriculture. The US exports billions of dollars in corn, soybeans, and meat to Canada and Mexico, while importing fresh produce such as avocados and tomatoes from Mexico.
Tariffs may provoke retaliatory measures, putting farmers and food suppliers in all three countries at risk.
Trump’s decision to delay and reduce tariffs on oil was somewhat predictable. US imports of Canadian oil have increased steadily over recent decades, meaning tariffs would immediately bite US consumers at the fuel pump.
We’ve been here before
This isn’t the first time the world has dealt with Trump’s tariff-heavy approach to trade policy. Looking back to his first term may provide some clues about what we might expect.
In his first term, Trump imposed major tariffs on US steel imports. ABCDstock/Shutterstock
Canada and Mexico imposed retaliatory tariffs. Ultimately, all countries removed tariffs on steel and aluminium in the process of finalising the United States-Mexico-Canada Agreement.
This signalled a bipartisan scepticism of unfettered trade and a shift toward on-shoring or re-shoring in US policy circles.
The options for Canada and Mexico
This time, Canada and Mexico’s have again responded with threats of retaliatorytariffs.
But they’ve also made attempts to mollify Trump – such as Canada launching a “crackdown” on fentanyl trade.
Generally speaking, responses to these tariffs could range from measured diplomacy to aggressive retaliation. Canada and Mexico may target politically sensitive industries such as agriculture or gasoline, where Trump’s base could feel the pinch.
There are legal options, too. Canada and Mexico could pursue legal action through the United States-Mexico-Canada Agreement’s dispute resolution mechanisms or the World Trade Organization (WTO).
Both venues provide pathways for challenging unfair trade practices. But these practices can be slow-moving, uncertain in their outcomes and are susceptible to being ignored.
A more long-term option for businesses in Canada and Mexico is to diversify their trade relationships to reduce reliance on the US market. However, the facts of geography, and the large base of consumers in the US mean that’s easier said than done.
The looming threat of a global trade war
Trump’s latest tariffs underscore a broader trend: the widening of the so-called “Overton window” to achieve unrelated geopolitical goals.
The Overton Window refers to the range of policy options politicians have because they are accepted among the general public.
Arguments for bringing critical industries back to the US, protecting domestic jobs, and reducing reliance on foreign supply chains gained traction after the ascent of China as a geopolitical and geoeconomic rival.
These arguments picked up steam during the COVID-19 pandemic and have increasingly been turned into actual policy.
The potential for a broader trade war looms large. Trump’s short-term goal may be to leverage tariffs as a tool to secure concessions from other jurisdictions.
Trump’s threats against Denmark – in his quest to obtain control over Greenland – are a prime example. The European Union (EU), a far more potent economic player, has pledged its support for Denmark.
A North American trade war – foreshadowed by the Canadian and Mexican governments – might then only be harbinger of things to come: significant economic harm, the erosion of trust among trading partners, and increased volatility in global markets.
Markus Wagner receives funding from the Department of Defence, Australia as a Chief Investigator on a project titled Weaponised Trade.
Source: United States Senator for Iowa Chuck Grassley
WASHINGTON – Sen. Chuck Grassley (R-Iowa), a senior member and former chairman of the Senate Finance Committee, and Sen. Dick Durbin (D-Ill.) are urging the Pharmaceutical Research and Manufacturers of America (PhRMA) to support their Drug-price Transparency for Consumers (DTC) Act. The bipartisan bill would require price disclosures on prescription drug advertisements to empower consumer choice and reduce patients’ bloated spending on medications.
“The United States is one of only two developed countries in the world that permits such pharmaceutical commercials. President Trump’s nominee for Health and Human Services Secretary has expressed interest in outright banning this practice. It would be wise for drug companies to adopt commonsense solutions to address the concerns that have been raised about DTC prescription drug advertising,” the senators wrote.
“The United States Senate previously voted unanimously to pass our measure to require that pharmaceutical companies disclose their list prices in DTC ads, and it is our hope that this policy will become law this Congress… In addition to President Trump’s previous support, our bill in the 118th Congress was cosponsored by Vice President Vance. Given PhRMA’s stated support for pharmacy benefit manager transparency, it is only reasonable to have transparency across the pharmaceutical supply chain,” they continued.
Read the senators’ letter HERE and below.
Stephen J. Ubl
President and CEO of Pharmaceutical Research and Manufacturers of America
Dear Mr. Ubl:
Drug manufacturers in the United States spend approximately $6 billion annually in direct-to-consumer (DTC) prescription drug advertisements, with approximately one-third of all commercial time across evening news programs being consumed with these pharmaceutical promotions. It is a similar story when consumers stream their favorite show or scroll through social media. Yet consumers learn nothing from these advertisements about the cost of the prescription drug. This must change.
A recent study in the Journal of the American Medical Association found that more than two-thirds of drugs advertised on television were considered “low therapeutic value”. This creates concern for taxpayers, as a review we requested from the Government Accountability Office (GAO) found prescription drugs advertised on television accounted for 58 percent of Medicare’s overall spending on prescription drugs between 2016-2018. In 2022, the two most-advertised drugs on television alone accounted for $1.7 billion in Medicare spending.
The United States is one of only two developed countries in the world that permits such pharmaceutical commercials. President Trump’s nominee for Health and Human Services Secretary has expressed interest in outright banning this practice. It would be wise for drug companies to adopt commonsense solutions to address the concerns that have been raised about DTC prescription drug advertising.
As you are aware, the United States Senate previously voted unanimously to pass our measure to require that pharmaceutical companies disclose their list prices in DTC ads, and it is our hope that this policy will become law this Congress. This bipartisan legislation would ensure that when patients are bombarded with information about the newest wonder drug, the price is not kept secret. President Trump previously has issued regulations to advance this policy.
There is a lot of value in knowing a prescription drug’s list price, the most accessible and standardized price of a drug, which is set by the manufacturer itself. This is especially important for consumers with high-deductible health insurance plans, those who are underinsured, or have no health insurance coverage at all—particularly as efforts are underway to reform the rebate structure used by pharmacy benefit managers.
Some of your member companies previously disclosed drug list prices in advertisements, and PhRMA previously has wanted to be more transparent with the American public about price information for advertised medications. We appreciate that 35 drug manufacturers voluntarily have certified to follow PhRMA’s “Guiding Principles on Direct-to-Consumer Advertisements,” which includes directing patients to find information about the cost of medicine, including the list price, on the company’s website. We are glad that drug companies agree that consumers should know the price of a prescription drug before purchasing it. But in instances where manufacturers currently do opt to provide pricing information (e.g., “pay as little as $0 per dose”), they can understate or obscure a patient’s out-of-pocket liability.
Studies show that patients are better able to approximate their out-of-pocket expenses when provided with the list price. When voluntarily choosing to promote medications over the airwaves, manufacturers already are required to disclose safety, side effects, and contraindication information. Yet, for many patients, price plays a primary role in clinical adherence.
Recently, we reintroduced our bipartisan legislation (S.229) to bring price transparency to DTC prescription drug ads. In addition to President Trump’s previous support, our bill in the 118th Congress was cosponsored by Vice President Vance. Given PhRMA’s stated support for pharmacy benefit manager transparency, it is only reasonable to have transparency across the pharmaceutical supply chain.
We urge you to take the reasonable, minimal step of embracing our bipartisan legislation to empower patients and providers and commit to voluntarily disclosing list prices in DTC advertisements. Thank you for your attention to this important matter.
WASHINGTON – Eugene Burns, 32, of Washington, D.C. was sentenced today to a total of 37 years in prison, including 31 years for the murder of Onyekachi Emmanuel Osuchukwu III in November 2015. Burns was sentenced to an additional six years for conspiring to influence a witness in the murder case. The announcement was made by U.S. Attorney Edward R. Martin, Jr., and Chief Pamela Smith of the Metropolitan Police Department (MPD).
Superior Court Judge Marisa Demeo sentenced co-defendant Tyre Allen, 24, also of Washington, D.C., to three years in prison.
On October 24, 2024, Burns was convicted by a Superior Court jury of first-degree murder while armed, possession of a firearm during a crime of violence, and carrying a pistol without a license. At the time he committed the murder, he was on release in a case pending before the D.C. Superior Court. On October 28, 2024, the jury convicted Burns and Allen of conspiracy to obstruct justice, obstruction of justice (corrupt persuasion of a witness), and obstruction of justice (due administration of justice).
According to the government’s evidence, on November 14, 2015, defendant Burns lured his best friend, Onyekachi Emmanuel Osuchukwu III, to Burns’s mother’s apartment in the 2900 block of 2nd Street Southeast, Washington, D.C. Burns shot the victim four times, killing him.
Burns was previously convicted by a jury, in 2017, of murdering the victim, but the conviction was overturned on appeal in 2020. Following the reversal, Burns and co‑defendant Tyre Allen, Burns’s cousin, conspired to and did obstruct justice by corruptly influencing a witness in the murder case to sign a false affidavit in October 2020 recanting the witness’s prior grand jury and trial testimony incriminating Burns in the murder.
In announcing the sentence U.S. Attorney Martin and Chief Smith commended the work of those who investigated this case from the Metropolitan Police Department’s Homicide Branch, the Federal Bureau of Investigation’s Cellular Analysis Survey Team, the Bureau of Alcohol, Tobacco and Firearms (ATF) Washington Division and the U.S. Attorney’s Office for the District of Columbia. They also acknowledged the work of former Assistant U.S. Attorneys Charles Willoughby and Kevin Flynn for their work on the case and Assistant U.S. Attorneys Charles R. Jones and Sharon Donovan, who prosecuted and tried this case.
SAN DIEGO – A two-count indictment was unsealed in federal court today charging San Diego Sheriff’s Deputy Jeremiah Manuyag Flores with violating the civil rights of a man in pretrial custody at the San Diego Central Courthouse by using excessive force that caused serious injuries and then writing a false report to cover up his illegal actions.
Flores is charged with depriving the individual – identified in the indictment as 57-year-old J.P. – of his right to due process of law under the Fourteenth Amendment to the United States Constitution and of falsifying a record in a federal investigation.
The indictment alleges that Flores was assigned to the Court Services Bureau at the San Diego Central Courthouse on August 29, 2024, and was escorting J.P. to a holding cell following a court hearing. At the time, J.P.’s legs were chained and his hands were cross-chained to his waist. At one point, Flores grabbed the back of J.P.’s shirt with both hands and pushed him faster down the hallway leading to the holding cell.
When Flores and J.P. arrived at the open door to the holding cell, Flores forcefully shoved J.P. into the cell from behind with both hands, causing J.P. to smash into the bench and walls and collapse to the ground, the indictment said. Flores stated, “What? Nothing happened,” and failed to immediately report the incident to his supervisor and prepare an official report, both of which are violations of the San Diego Sheriff’s Office’s Use of Force Policy.
According to the indictment, another deputy found J.P. over two hours later lying in the same position in his holding cell with a head wound and a pool of blood on the floor. As a result of Flores’ actions, J.P. suffered a spinal injury for which he underwent surgery and remained hospitalized for months.
The indictment said that more than an hour after J.P. was discovered in his holding cell, Flores falsely claimed in an incident report that “no force was used” in placing J.P. into the cell, though he knew that he had, indeed, used force against the detainee.
“The vast majority of law enforcement personnel are dedicated public servants committed to following the rule of law and protecting our communities,” said U.S. Attorney Tara McGrath. “But when a choice is made to cross the line and violate someone’s civil rights, this office will stand on behalf of the victim, and all those who wear the badge with honor, to uphold the public’s trust.”
“Law enforcement officers work tirelessly every day to protect the public, always striving to be professional, honest, and ethical,” said San Diego FBI Special Agent in Charge Stacey Moy. “The alleged action of the defendant not only violates the oath he swore as a law enforcement officer to protect and serve, but also erodes citizen confidence and trust in our profession.”
Flores made his initial appearance in federal court today before U.S. Magistrate Judge David D. Leshner. He entered pleas of not guilty to both charges and was released on a $25,000 personal appearance bond with special conditions that he surrender his passport and his personally owned firearms. The next scheduled court appearance is a motion hearing and trial setting before U.S. District Judge Linda Lopez on March 10, 2025, at 2 p.m.
This case is being prosecuted by Assistant U.S. Attorney Seth Askins.
DEFENDANTS Case Number 25cr0254-LL
Jeremiah Manuyag Flores Age: 44 La Jolla, CA
SUMMARY OF CHARGES
Deprivation of Rights Under Color of Law – Title 18, U.S.C., Section 242
Maximum penalty: Ten years in prison and $250,000 fine
Falsification of Records in a Federal Investigation – Title 18, U.S.C., Section 1519
Maximum penalty: Twenty years in prison and $250,000 fine
INVESTIGATING AGENCIES
Federal Bureau of Investigation
San Diego County Sheriff’s Office (Homicide Unit)
*The charges and allegations contained in an indictment or complaint are merely accusations, and the defendant is considered innocent unless and until proven guilty.
LOS ANGELES – A Wisconsin man pleaded guilty today to a felony drug offense for his actions surrounding a 2020 fentanyl transaction that resulted in the death of a U.S. Marine.
Anthony Ruben Whisenant, 24, pleaded guilty in United States District Court to the use of a communication facility – a cellphone – in committing a felony drug offense.
United States District Judge Dolly M. Gee is scheduled to sentence Whisenant on May 7, at which time he will face a maximum sentence of four years in federal prison.
“Fentanyl continues to claim the lives of too many in our community,” said Acting United States Attorney Joseph McNally. “Our office remains committed to holding accountable those responsible for circulating fentanyl and other dangerous substances in our district and threatening the health and safety of our residents.”
According to court documents, in May 2020, Whisenant was an active-duty lance corporal in the United States Marine Corps stationed aboard Camp Pendleton in Oceanside when he ordered pills marketed as oxycodone – but which actually contained fentanyl – for a fellow U.S. Marine, identified in court papers as “L.M.”
Whisenant contacted the drug dealer, Gustavo Jaciel Solis, 28, based on an advertisement Solis shared via his Snapchat account, according to court documents. L.M. drove Whisenant and another U.S. Marine, Ryan Douglas White, 27, from Camp Pendleton to collect the drugs from Solis later that same day. The three Marines then drove to a party in Compton where L.M. ingested some of the pills purchased from Solis and died shortly after. At the direction of Whisenant, White flushed the remaining pills down a toilet before first responders arrived.
Solis was charged in 2020, along with Whisenant and two other civilian co-conspirators, with being part of a drug ring that distributed narcotics to civilians and members of the Marine Corps, and White was charged as an accessory after the fact.
Solis was arrested in July 2020, at which time investigators seized narcotics and several firearms – including a 9mm “ghost gun” – from his residence. Solis pleaded guilty in April 2022 to two federal drug trafficking offenses: participating in a drug trafficking conspiracy and distributing fentanyl resulting in death. His sentencing is pending, and he faces a maximum sentence of life.
White pleaded guilty in December 2024 to one count of misprision of a felony for his knowledge of the fatal drug transaction and his attempts to hinder law enforcement’s investigation. His sentencing is scheduled for June 6, at which time he will face a maximum sentence of 3 years.
A superseding indictment filed in September 2020 named two other defendants: Jordan Nicholas McCormick, 29, of Palmdale, and Jessica Sarah Perez, 25, of Pacoima.
McCormick allegedly supplied provided LSD, ecstasy, cocaine and oxycodone pills laced with fentanyl to co-conspirators. McCormick has pleaded not guilty and is scheduled to go to trial on April 22.
Perez distributed narcotics including fentanyl and cocaine to the conspiracy’s civilian customers. She pleaded guilty to one count of conspiracy to distribute and possess with intent to distribute controlled substances and was sentenced in September 2022 to pay a $100 fine and placed on probation for two years.
This matter was investigated by the Naval Criminal Investigative Service, the Drug Enforcement Administration, the FBI, the United States Postal Inspection Service, and the Ventura County Sheriff’s Office.
This case is being prosecuted by Assistant United States Attorney Patrick Castañeda of the International Narcotics, Money Laundering, and Racketeering Section.
Defendant previously released and deported following arrest for federal drug and firearm charges
BOSTON – A Dominican national, residing in Lawrence with pending federal fentanyl trafficking and firearm charges, has been arrested and charged with unlawfully reentering the United States. After the defendant was arrested and charged in 2023 with alleged federal drug and firearm offenses, he was released on conditions and later deported.
Santo Alberto Baez Baez, 36, is charged with one count of unlawful reentry of a deported alien. Baez Baez was previously arrested and charged by criminal complaint in June 2023 with one count of conspiracy to distribute and possess with intent to distribute controlled substances (fentanyl). He was subsequently indicted by a federal grand jury in July 2023 with one count of possession with intent to distribute 40 grams or more of fentanyl and one count of possession of a firearm in furtherance of a drug trafficking offense.
In 2022, law enforcement began investigations into multiple drug trafficking organizations (“DTOs”) that distributed large quantities of fentanyl, cocaine, and methamphetamine in the Lawrence area. According to court documents, on June 21, 2023, search warrants were executed at 13 locations in Massachusetts, including three locations in Lawrence, allegedly used by the DTOs. It is alleged that, during a search of one of the Lawrence-based residences, Baez Baez was found in the bedroom where a Rossi model M971 .357 caliber revolver loaded with .38 special ammunition and a silencer, a box of .38 special ammunition, a container of controlled substances – some of which were packaged in clear plastic bags for sale – and a brick that weighed approximately 200 grams – later analyzed and determined to contain fentanyl – was recovered. According to the criminal complaint, fraudulent identification documents, including social security cards and Baez Baez’s Dominican passport, where also discovered.
At the time of his arrest, it was determined that Baez Baez had an outstanding state warrant for distribution of fentanyl, and it was determined that he was not legally present in the United States.
Following a detention hearing on federal charges, Baez Baez was released by the Court on conditions on July 11, 2023. According to court documents, he was later brought into the custody of immigration authorities and placed into removal proceedings and, on Aug 28, 2023, he was ordered removed from the United States to the Dominican Republic. Baez Baez was removed on Sept. 19, 2023, at which time his fingerprint, photograph and signature were obtained.
It is alleged that on an unknown date and location, Baez Baez reentered the United States without being inspected. Authorities learned that Baez Baez was living in Lawrence, Mass.
According to the criminal complaint, on Oct. 18, 2024, an individual was stopped for a traffic violation in Andover, Mass. The operator produced a New York driver’s license identifying himself as Jose Villar Baez. It was determined that there was a warrant for “Villar Baez” in Concord District Court for leaving the scene of an accident, causing property damage and unlicensed operation of a motor vehicle. The operator of the vehicle was arrested and later fingerprinted. Fingerprint analysis allegedly determined that “Villar Baez,” the operator of the vehicle, was in fact Baez Baez. According to the criminal complaint, Baez Baez was released by a state clerk magistrate on personal recognizance.
On Jan. 27, 2025, a federal arrest was issued for Baez Baez for violating his pre-trial release. On Jan. 31, 2025 Baez Baez was arrested in Lawrence at a location that had been previously searched in June 2023 at the time Baez Baez originally was arrested.
The charge of unlawful reentry of a deported alien provides for a sentence of up to two years in prison and three years of supervised release. The charge of possession with intent to distribute 40 grams or more of fentanyl provides for a sentence of no less than five years and up to 40 years in prison, no less than four years and up to life of supervised release and a fine of up to $5 million. The charge of possession of a firearm in furtherance of a drug trafficking offense provides for a sentence of no less than five years in prison to run consecutively with any sentence imposed on the drug offense. Baez Baez will also be subject to deportation upon completion of any sentence imposed. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.
United States Attorney Leah B. Foley; Stephen Belleau, Acting Special Agent in Charge of the Drug Enforcement Administration, New England Field Division; Michael J. Krol, Special Agent in Charge of Homeland Security Investigations in New England; and Colonel Geoffrey D. Noble, Superintendent of the Massachusetts State Police and made the announcement today. Valuable assistance was provided by the U.S. Marshals Service for the District of Massachusetts and the Natick Police Department. U.S. Attorney Leah B. Foley and Assistant U.S. Attorneys Charles Dell’Anno and Christopher Pohl of the Narcotics & Money Laundering Unit are prosecuting the case.
This operation is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) Strike Force Initiative, which provides for the establishment of permanent multi-agency task force teams that work side-by-side in the same location. This co-located model enables agents from different agencies to collaborate on intelligence-driven, multi-jurisdictional operations to disrupt and dismantle the most significant drug traffickers, money launderers, gangs, and transnational criminal organizations. OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF.
The details contained in the charging documents are allegations. The defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.
FAIRBANKS, Alaska – An Utqiagvik man was sentenced today to 15 years in prison and will serve 10 years on supervised release for producing child pornography.
According to court documents, a detective with a local law enforcement agency, acting in an undercover capacity and posing online as a 13-year-old girl, operated an account with a social media application known to law enforcement to be utilized by individuals seeking sexual encounters with minors. On Nov 6, 2023, the undercover detective received a message from Billy Ray Okpeaha Jr., 25.
Between Nov. 6, 2023, and Jan. 18, 2024, Okpeaha and the undercover detective engaged in online exchanges that included Okpeaha’s requests that the undercover detective send him explicit content, the defendant sending a photo of his genitals to the undercover detective, and discussions about meeting each other in person and sexual interactions if an in-person meet occurred. Okpeaha sent the address of the hotel he was staying at and requested the undercover detective meet him at his hotel room.
Okpeaha made plans to meet the undercover detective for a sexual encounter on Jan. 22, 2024. He was arrested that day at an apartment in Utqiagvik. Investigators seized and searched his electronic devices, which contained child sexual abuse materials, including visuals of a known minor victim. The known minor victim was interviewed and confirmed sending images of child sexual abuse material at Okpeaha’s request.
Okpeaha was initially released on pre-trial supervision following his arrest but fled his transitional living facility. He was re-arrested in Coldfoot, Alaska, allegedly attempting to evade supervision and capture.
On Sept. 4, 2024, Okpeaha pleaded guilty to one count of sexual exploitation of a child – production of child pornography.
“Crimes against children are among the most heinous offenses, inflicting lasting harm on vulnerable victims. Mr. Okpeaha deliberately targeted innocent children in a rural village for his own sexual gratification, exposing a clear and present danger to our communities,” said U.S. Attorney S. Lane Tucker for the District of Alaska. “Our office will continue to work closely with law enforcement partners to identify, apprehend and vigorously prosecute anyone who attempts to exploit or target the children of Alaska.”
“The defendant used the Internet to commit child exploitation crimes in Alaska and was found to be in possession of CSAM on his devices,” said Special Agent in Charge Rebecca Day of the FBI Anchorage Field Office. “This investigation and sentencing demonstrate the severity of the defendant’s crimes, and our commitment to prevent further victimization and ensure online predators are brought to justice.”
The FBI Anchorage Field Office and Anchorage Police Department investigated this case as part of the FBI’s Child Exploitation and Human Trafficking Task Force, with assistance from the North Slope Borough Police Department.
Assistant U.S. Attorney Carly Vosacek prosecuted the case.
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, Project Safe Childhood combines 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.
Not for distribution to U.S. newswire services or for dissemination in the United States.
TORONTO, Jan. 31, 2025 (GLOBE NEWSWIRE) — (TSX: DGS, DGS.PR.A) Dividend Growth Split Corp. (the “Fund”) is pleased to announce it has renewed its at-the-market equity program (“ATM Program”) so that the Fund can issue class A and preferred shares (the “Class A Shares” and “Preferred Shares”, respectively) to the public from time to time, at the Fund’s discretion. This ATM Program replaces the prior program established in August 2024 that has terminated. Any Class A Shares or Preferred Shares sold under the ATM Program will be sold through the Toronto Stock Exchange (the “TSX”) or any other marketplace in Canada on which the Class A Shares and Preferred Shares are listed, quoted or otherwise traded at the prevailing market price at the time of sale. Sales of Class A Shares and Preferred Shares through the ATM Program will be made pursuant to the terms of an equity distribution agreement dated January 31, 2025 (the “Equity Distribution Agreement”) with RBC Capital Markets (the “Agent”).
Sales of Class A Shares and Preferred Shares will be made by way of “at-the-market distributions” as defined in National Instrument 44-102 Shelf Distributions on the TSX or on any marketplace for the Class A Shares and Preferred Shares in Canada. Since the Class A Shares and Preferred Shares will be distributed at the prevailing market prices at the time of the sale, prices may vary among purchasers during the period of distribution. The ATM Program is being offered pursuant to a prospectus supplement dated January 31, 2025 to the Fund’s short form base shelf prospectus dated August 1, 2024. The maximum gross proceeds from the issuance of the shares will be $100 million for each of the Class A and Preferred Shares. Copies of the prospectus supplement and the short form base shelf prospectus may be obtained from your registered financial advisor or from representatives of the Agent and are available on SEDAR+ at www.sedarplus.ca.
The volume and timing of distributions under the ATM Program, if any, will be determined at the Fund’s sole discretion. The ATM Program will be effective until September 1, 2026, unless terminated prior to such date by the Fund. The Fund intends to use the proceeds from the ATM Program in accordance with the investment objectives and investment strategies of the Fund, subject to the investment restrictions of the Fund.
The Fund invests in a portfolio (the “Portfolio”) consisting primarily of equity securities of Canadian dividend growth companies. In addition, the Fund may hold up to 20% of the total assets of the Portfolio in global dividend growth companies for diversification and improved return potential, at the discretion of Brompton Funds Limited (the “Manager”). In order to qualify for inclusion in the Portfolio, at the time of investment, each dividend growth company included in the Portfolio must have (i) a market capitalization of at least $2.0 billion; and (ii) a history of dividend growth or, in the Manager’s view, have high potential for future dividend growth.
The investment objectives for the Class A Shares are to provide holders with regular monthly cash distributions targeted to be at least $0.10 per Class A Share and to provide the opportunity for growth in the net asset value per Class A Share.
The investment objectives for the Preferred Shares are to provide holders with fixed cumulative preferential quarterly cash distributions in the amount of $0.16875 per Preferred Share (6.75% per annum on the original $10.00 issue price) until August 30, 2029, and to return the original issue price to holders of Preferred Shares on August 30, 2029.
Over the last 10 years, the Class A Shares have delivered a 12.8% per annum total return based on NAV, outperforming the S&P/TSX Composite Total Return Index by 4.1% per annum.(1) The Preferred Shares have returned 5.5% per annum over the last 10 years, outperforming the S&P/TSX Preferred Share Total Return Index by 2.5% per annum.(1)
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.
(1) See Performance table below.
Dividend Growth Split Corp. Compound Annual Returns to December 31, 2024
1-Yr
3-Yr
5-Yr
10-Yr
Since Inception
Class A Shares (TSX: DGS)
54.6%
15.9%
19.0%
12.8%
11.1%
S&P/TSX Composite Total Return Index
15.7%
7.8%
10.5%
7.4%
6.4%
Preferred Shares (TSX: DGS.PR.A)
5.6%
5.6%
5.6%
5.5%
5.4%
S&P/TSX Preferred Share Total Return Index
21.6%
1.6%
5.8%
2.5%
3.2%
Returns are for the periods ended December 31, 2024, and are unaudited. Inception date December 3, 2007. The table shows the compound return on a Class A Share and Preferred Share for each period indicated compared to the S&P/TSX Composite Total Return Index (“Composite Index”), and the S&P/TSX Preferred Share Total Return Index (“Preferred Share Index”) (together the “Indices”). The Composite Index tracks the performance, on a market weight basis and total return basis, of a broad index of large-capitalization issuers listed on the TSX. The Preferred Share Index tracks the performance, on a market‑weight basis and total return basis, of a broad index of preferred shares trading on the TSX that meet the criteria relating to size, liquidity and issuer rating. The Fund is actively managed; therefore, its performance is not expected to mirror that of the Indices, which have more diversified portfolios and include a substantially larger number of companies. Furthermore, the Indices’ performance is calculated without the deduction of management fees, fund expenses and trading commissions, whereas the performance of the Fund is calculated after deducting such fees and expenses. Additionally, the performance of the Class A Shares is impacted by the leverage provided by the Preferred Shares. The performance information shown is based on the net asset value per Class A Share and the redemption price per Preferred Share and assumes that cash distributions made by the Fund during the periods shown were reinvested at net asset value per Class A Share and redemption price per Preferred Share in additional Class A Shares or Preferred Shares of the Fund. Past performance does not necessarily indicate how the Fund will perform in the future.
You will usually pay brokerage fees to your dealer if you purchase or sell shares of the Fund on the TSX or other alternative Canadian trading system (an “exchange”). If the shares are purchased or sold on an exchange, investors may pay more than the current net asset value when buying shares of the Fund and may receive less than the current net asset value when selling them.
There are ongoing fees and expenses associated with owning 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 the Fund in its public filings available at www.sedarplus.ca. The indicated rates of return are the historical annual compounded total returns including changes in share value and reinvestment of all distributions and does not take into account sales, redemption, distribution or optional charges or income tax payable by any securityholder that would have reduced returns. 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 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.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.
Source: United States Senator Joni Ernst (R-IA)
WASHINGTON – As Chair of the Senate Committee on Small Business and Entrepreneurship, U.S. Senator Joni Ernst (R-Iowa) is introducing bipartisan legislation with Senator Jacky Rosen (D-Nev.) to increase the availability of affordable, high-quality child care for working families. This bill would allow non-profit child care providers to participate in Small Business Administration (SBA) loan programs.
“When traveling river to river across Iowa, I consistently hear about the difficulties families face in finding affordable, high-quality child care,” said Chair Ernst. “As chair of the Small Business Committee, I’m bringing Iowans’ concerns to Washington. In many of our state’s rural communities, religious organizations often offer the only child care options but for too long have been denied access to federal funding. To drive down prices, I’m dedicated to real solutions like this that expand options and kick down regulatory hurdles on behalf of hardworking families.”
“There is a significant need for additional child care in Decatur County, and oftentimes, for-profit business isn’t able to completely meet that need. If a program like the SBA loan program was available to help fund small, rural, non-profit child care centers, this would help reduce the upfront financial cost of construction and expedite the process of expanding services and adding additional child care slots,” said Shannon Erb, President of Decatur County Development Corporation. “The team at Decatur County Development Corporation wholeheartedly supports this bill and would like to thank Senator Ernst for leading the way to support rural child care. We are excited about the direct impact this could have on the future of our community and other rural communities across the country.”
“The Iowa Women’s Foundation proudly supports the bipartisan Small Business Child Care Investment Act being introduced in the U.S. Senate by Senators Joni Ernst (R) and Jacky Rosen (D). This bill will expand access to quality affordable child care by allowing non-profit child care providers to utilize programs offered by the Small Business Administration,” said Iowa Women’s Foundation. “This bill will help meet a critical need for affordable quality child care in Iowa communities across the state, a major focus of the Iowa Women’s Foundation. We applaud the bipartisan work of Senators Ernst and Rosen in addressing this critical need in our state.”
“As a director of a non-profit child care center in a rural community, we would greatly appreciate the opportunity to apply for the SBA Loans. There continues to be a need for child care that offers families the same quality found in larger communities,” said Tiffany Finch, Director of Cambridge Little Achievers Center. “Allowing non-profit child care centers the same access to SBA Loans would allow us to apply for funding that can focus on the quality and culture of the programs without adding more expense to rural families. The SBA loans can help and invest in our staff and families!”
The bipartisan Small Business Child Care Investment Act would:
Ensure that qualified non-profit providers have equal access to key SBA loan options that allow providers to invest in and expand their operations;
Create local jobs and give working families more options for affordable and quality child care; and
Protect religiously-affiliated non-profit providers access to the larger and more flexible loan programs like 7(a) and 504 that can be used for real estate, construction, remodeling, and other expenses critical to maintaining and expanding high-quality child care operations.
Background:
Ernst has been a strong advocate for increasing access to affordable, high-quality child care in Iowa.
On her annual River to River Tour, Ernst routinely visits child care centers to understand the needs of Iowans and bring their voices to Washington.
Conference Call Scheduled for 8:30 a.m. Eastern Time
WEST PALM BEACH, Fla., Jan. 31, 2025 (GLOBE NEWSWIRE) — AMG (NYSE: AMG) will report financial and operating results for the fourth quarter and full year ended December 31, 2024 on Thursday, February 6, 2025. A conference call will be held at 8:30 a.m. Eastern time on the same day.
In addition to quarterly results, the conference call may include discussion of management’s expectations of future financial and operating results. Jay C. Horgen, President and Chief Executive Officer, Thomas M. Wojcik, Chief Operating Officer, and Dava E. Ritchea, Chief Financial Officer, will host the session.
Parties interested in listening to the conference call should dial 1-877-407-8291 (U.S. calls) or 1-201-689-8345 (non-U.S. calls) shortly before the call begins.
The conference call will also be available for replay beginning approximately one hour after the conclusion of the call. To hear a replay of the call, please dial 1-877-660-6853 (U.S. calls) or 1-201-612-7415 (non-U.S. calls) and provide conference ID 13750674. The live call and replay of the session, and a presentation highlighting the Company’s performance, can also be accessed via AMG’s website at https://ir.amg.com/.
For more information on AMG, please visit www.amg.com.
