Category: Finance

  • MIL-OSI: Premium Income Corporation Announces Successful Overnight Offering Of Preferred Shares

    Source: GlobeNewswire (MIL-OSI)

    Not for distribution to U.S. newswire services or for dissemination in the United States.

    TORONTO, Oct. 30, 2024 (GLOBE NEWSWIRE) — (TSX: PIC.PR.A) – Premium Income Corporation (the “Fund”) is pleased to announce a successful overnight treasury offering of 4,350,000 Preferred Shares. Gross proceeds of the offering are expected to be $65,250,000.

    The offering is expected to close on or about November 6, 2024, and is subject to certain closing conditions including approval by the Toronto Stock Exchange (“TSX”). The Preferred Shares will be offered at a price of $15.00 per Preferred Share representing a yield on the original issue price of 8.50%. The trading price on the TSX for the Preferred Shares as at the last trade on October 29, 2024, was $15.16. Since the inception of the Fund, the aggregate dividends declared on the Preferred Shares have been $24.36 per share.

    The Fund invests in a portfolio consisting principally of common shares of Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada and The Toronto-Dominion Bank. To generate additional returns above the dividend income earned on the Fund’s portfolio, the Fund will selectively write covered call and put options in respect of some or all of the common shares in the Fund’s portfolio. The manager and investment manager of the Fund is Mulvihill Capital Management Inc.

    The Preferred Shares pay fixed cumulative preferential monthly cash distributions in the amount of $0.10625 ($1.275 per annum) per Preferred Share representing a yield of 8.50% on the original issue price of $15.00.

    The syndicate of agents for the offering was co-led by National Bank Financial Inc., CIBC Capital Markets, RBC Capital Markets, and Scotiabank.

    For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172, email at info@mulvihill.com or visit www.mulvihill.com

    John Germain, Senior Vice-President & CFO Mulvihill Capital Management Inc.
    121 King Street West
    Suite 2600
    Toronto, Ontario, M5H 3T9

    The MIL Network

  • MIL-OSI: Real Estate Split Corp. Completes Overnight Offering

    Source: GlobeNewswire (MIL-OSI)

    Not for distribution to U.S. Newswire Services or for dissemination in the United States.

    TORONTO, Oct. 30, 2024 (GLOBE NEWSWIRE) — Real Estate Split Corp. (TSX: RS and RS.PR.A) (the “Company”), is pleased to announce the Company has completed the overnight offering of class A and preferred shares (the “Class A Shares” and “Preferred Shares”, respectively) for aggregate gross proceeds of approximately $46.4 million. The Class A Shares and Preferred Shares will trade on the Toronto Stock Exchange under the existing symbols RS (Class A Shares) and RS.PR.A (Preferred Shares).

    The Class A Shares were offered at a price of $12.90 per Class A Share to yield 12.1%. and the Preferred Shares were offered at a price of $10.10 per Preferred Share to yield 4.4% to maturity. The Class A Share and Preferred Share offering prices were determined so as to be non-dilutive to the net asset value per unit of the Company on October 22, 2024, as adjusted for dividends and certain expenses to be accrued prior to or upon settlement of the offering.

    The Company has been designed to provide investors with a diversified, actively managed, high conviction portfolio comprised of securities of leading North American real estate companies.

    The Company’s investment objectives for the:

    Class A Shares are to provide holders with:

    1. non-cumulative monthly cash distributions; and
    2. the opportunity for capital appreciation through exposure to the portfolio

    Preferred Shares are to:

    1. provide holders with fixed cumulative preferential quarterly cash distributions; and
    2. return the original issue price of $10.00 to holders upon maturity.

    Middlefield Capital Corporation provides investment management advice to the Company.

    The syndicate of agents for the offering was co-led by CIBC Capital Markets, RBC Capital Markets, and Scotiabank, and included Canaccord Genuity Corp., Hampton Securities Limited, National Bank Financial Inc., BMO Nesbitt Burns Inc., iA Private Wealth Inc., Raymond James Ltd., Manulife Wealth Inc., Ventum Financial Corp., Wellington-Altus Private Wealth Inc., Desjardins Securities Inc., and Research Capital Corporation.

    For further information, please visit our website at www.middlefield.com or contact Nancy Tham in our Sales and Marketing Department at 1.888.890.1868.

    Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. This offering was made by a prospectus supplement dated October 24, 2024, to the Company’s short form base shelf prospectus dated January 11, 2023 (the “Prospectus”). The Prospectus contains important detailed information about the Class A Shares and Preferred Shares being offered. Copies of the Prospectus may be obtained from your CIRO registered financial advisor using the contact information for such advisor. Investors should read the Prospectus before making an investment decision. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. Please read the Company’s publicly filed documents which are available at www.sedarplus.ca.

    The MIL Network

  • MIL-OSI Africa: Secretary-General’s message to the 2024 Global Education Meeting

    Source: United Nations – English

    s you gather for the 2024 Global Education Meeting, you confront a critical global challenge.

    Education is the key to unlocking opportunities, equality, prosperity and peace.

    But for millions of people around the world, that door remains shut tight.

    Seventy per cent of 10-year-olds are unable to understand a basic text, while 250 million children and young people are out of school altogether. This is worsened by a huge financing gap of $97 billion annually for education in low and middle income countries.  

    We don’t have a moment to lose. At the Transforming Education Summit in 2022, governments committed to ending the learning crisis, and boosting investment in quality education systems that can reach every learner, throughout their lives.

    Your meeting is an opportunity to measure how governments are — and are not — living up to this commitment.

    In particular, I welcome your focus on closing the financing gap for education through more effective resource mobilization and innovative financing initiatives. I call on governments to arrive at next year’s Conference on Financing for Development and the World Social Summit with concrete solutions that can deliver the education systems all people need and deserve. 

    Through the recently adopted Pact for the Future, governments committed to investing in accessible, safe, inclusive and equitable quality education for all.

    The United Nations is proud to stand with you in this essential global effort.

    ***
     

    MIL OSI Africa

  • MIL-OSI Asia-Pac: Speech by FS at breakfast meeting hosted by HKEX in Riyadh, Saudi Arabia (English only) (with photos)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Financial Secretary, Mr Paul Chan, at a breakfast meeting hosted by the Hong Kong Exchanges and Clearing Limited (HKEX) in Riyadh, Saudi Arabia, today (October 30):     Carlson (Chairman of HKEX, Mr Carlson Tong), Mohammed (CEO of Saudi Exchange, Mr Mohammed Al-Rumaih), Bill (Group Chief Executive of Standard Chartered PLC, Mr Bill Winters), Darryl (Deputy Chief Executive of HKMA, Mr Darryl Chan), Bonnie (CEO of HKEX, Ms Bonnie Chan), distinguished guests, ladies and gentlemen,      Good morning, everyone. It is a great pleasure to join you today at this important breakfast session hosted by HKEX, right at the heart of the FII (Future Investment Initiative).     Before we begin, I want to extend my appreciation to HKEX for organising this session and to FII for providing a forum that brings global leaders together to address the future of investment. My special thanks to Mohammed, CEO of Saudi Exchange, and Bill, Global CEO of Standard Chartered, for joining this panel. A moment for co-operation     There couldn’t be a better time for us to gather and discuss how we can strengthen our capital market connectivity. The transformative agenda set forth by Saudi Arabia’s Vision 2030 seeks to foster a dynamic society through extensive infrastructure projects, green transition, and digitalisation. This ambitious vision is driving significant reforms across various sectors, positioning the Kingdom as a leader in economic diversification and innovation.     In light of the evolving geopolitical landscape and shifts in global economic gravity, Saudi Arabia and the broader Middle East are actively deploying their capital towards Asia. In this context, Hong Kong emerges as a pivotal player, serving as an international financial centre and a gateway to China and the wider Asian market. Hong Kong’s value proposition     Hong Kong’s unique strengths are anchored in the “one country, two systems” framework, which China has committed to maintain over the long term. This arrangement allows Hong Kong to benefit from both the advantages of being part of China and the defining characteristics as an international city. We enjoy convenient, and at times privileged, access to the Mainland market while retaining our distinctive features, including a common law system, a judiciary that exercises powers independently, the free flow of capital, goods, information, and talent, a low and simple tax regime, and a currency pegged to the US dollar.     Hong Kong is one of the top three international financial centres globally, alongside New York and London. We have also recently been recognised by the Fraser Institute as the freest economy in the world. Our world-class professional services adhere to the highest international standards, bolstered by a wealth of international experience and extensive connections.     In short, Hong Kong presents unique advantages that can create significant value for Middle Eastern investors and capital. Hong Kong is an attractive destination for investment and collaboration, particularly in such areas as fund-raising, asset and wealth management, and green and sustainable finance. Allow me to elaborate. Fund-raising markets     First, our fund-raising market. Carlson will provide a comprehensive overview of how Hong Kong serves as the prime connector between the capital markets of the Mainland and the rest of the world.      Our stock market has a capitalisation of over US$4.5 trillion, which is 12 times of our GDP. It went through some challenging times in 2023 and the earliest part of this. It is making a comeback, particularly following the recent announcement of a stimulus package by the central authorities, aimed at injecting liquidity into the banking sector and supporting the real estate market. Since then, the market has increased by about 15 per cent with high volume. We have seen strong buying interest from American and European investors, who accounted for approximately 85 per cent of the buy side by value. Notably, 90 per cent of these investors are long-term fund managers and investment banks.     Over the past few years, we have continuously reformed our listing regime. These reforms have broadened our market’s appeal and positioned Hong Kong as a leading listing hub for innovative enterprises. For example we are now the second-largest biotech fund-raising hub after the United States.     Our country, China, has consistently supported the development of Hong Kong’s stock market. Just this April, the China Securities Regulatory Commission announced five measures to bolster the development of Hong Kong’s capital markets, including, for example, expanding the Connect Schemes we have with the Mainland to cover more ETFs (exchange-traded funds) and REITs (real estate investment trusts), and facilitating the listing of more leading Mainland companies on the Hong Kong Stock Exchange.     By the way, we are also actively enhancing our connectivity with new markets. Last year, we reached an agreement with the Saudi Exchange and Indonesia Stock Exchange to allow companies in these countries to secondary list on our Stock Exchange. As they come to Hong Kong, they are able to access both international capital and capital from the Mainland under the Connect Schemes.      The upcoming listing of two ETFs investing in Hong Kong stocks on the Saudi Exchange will be further reinforcing our links with Saudi Arabia.     Beyond stock market, we boast a vibrant private equity sector, which manages over US$230 billion in assets, making us number two in Asia, only after the Mainland. Indeed, Hong Kong has a comprehensive chain of funds supporting companies at various stages of growth.      Looking to the future, our stock market is poised to grow deeper and more robust. We are determined to attract more quality issuers from around the globe, and new capital sources, particularly Middle East and Asia.     Asset and wealth management hub     Second, asset and wealth management. Many Middle Eastern families and ultra-high-net-worth individuals are increasingly recognising the need to diversify their asset allocation and look beyond traditional American and European markets. They can certainly look to Hong Kong. We manage over US$4 trillion in assets, with more than half coming from outside Hong Kong and Mainland China. We are also home to 2 700 single-family offices. Beyond diversified investment offerings, we have established a robust network comprising private banks, accounting and legal firms, trusts, and other professional service providers, forming a strong nexus that caters to their needs. This is further complemented by our strong philanthropic culture and programmes for families to leave a lasting legacy, making a difference in the world and shaping a better future for generations to come.Green and sustainable finance     Finally, green and sustainable finance. As a key component of Vision 2030, Saudi Arabia has embarked on the Saudi Green Initiative, with clear targets to increase the share of renewable energy, reduce carbon emissions, and enhance land and sea protection. This vision resonates with us well, and we stand ready to contribute.     Hong Kong is Asia’s green finance capital, demonstrated by our leading position in arranging green and sustainable debt, averaging over $63 billion per year over the past three years, accounting for over one-third of Asia’s total. Beyond volume, we are committed to building a green reporting system that meets the highest international standards, by adopting taxonomies interoperable with other international classification frameworks, and adhering to global sustainable reporting standards. Clearly, Hong Kong is an ideal platform for Saudi and Middle Eastern green and sustainable projects looking to access funds in our part of the world.Concluding remarks     Ladies and gentlemen, I have just outlined some of the areas that Hong Kong can play in connecting capital, investments, and opportunities between our markets. I am eager to hear the valuable insights from our panelists this morning on how our capital markets can further collaborate and innovate.      I wish you all the best of health and business in the years to come. May our discussions today inspire new ideas and fruitful collaborations that lead to shared prosperity and growth for all.     Thank you!

    MIL OSI Asia Pacific News

  • MIL-OSI Security: McAlester Resident Pleads Guilty To Federal Firearm Crime

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    MUSKOGEE, OKLAHOMA – The United States Attorney’s Office for the Eastern District of Oklahoma announced that Leslie Ray Upchurch, age 35, of McAlester, Oklahoma, entered a guilty plea one count of illegal possession of a firearm and ammunition.

    The Indictment alleged that on April 28, 2023, Upchurch, having been convicted of a crime punishable by imprisonment for a term exceeding one year, and knowing of such conviction, knowingly possessed one Ruger 9mm Luger caliber semi-automatic pistol and several rounds of assorted 9mm Luger caliber ammunition.

    The charges arose from an investigation by the McAlester Police Department, the Pittsburg County Sheriff’s Office, the Drug Enforcement Administration, the Bureau of Alcohol, Tobacco, Firearms and Explosives, and the Federal Bureau of Investigation.

    The Honorable Jason A. Robertson, Magistrate Judge in the United States District Court for the Eastern District of Oklahoma, accepted the plea and ordered the completion of a presentence investigation report.  Upchurch was remanded into the custody of the United States Marshal Service pending sentencing.

    Assistant U.S. Attorney Jacob R. Parker represented the United States.

    MIL Security OSI

  • MIL-OSI: Changes in Nokia Corporation’s own shares

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Stock Exchange Release
    30 October 2024 at 16:00 EET

    Changes in Nokia Corporation’s own shares

    Espoo, Finland – A total of 566 919 Nokia shares (NOKIA) held by the company were transferred today without consideration to participants of Nokia’s equity-based incentive plans in accordance with the rules of the plans. The transfer is based on the resolution of the Board of Directors to issue shares held by the company to settle its commitments to participants of the plans as announced on 4 October 2023.

    The number of own shares held by Nokia Corporation following the transfer is 188 860 209.

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Inquiries:

    Nokia Communications
    Phone: +358 10 448 4900
    Email: press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia
    Investor Relations
    Phone: +358 40 803 4080
    Email: investor.relations@nokia.com

    The MIL Network

  • MIL-OSI United Kingdom: Chancellor chooses a Budget to rebuild Britain

    Source: United Kingdom – Executive Government & Departments 3

    Today, Chancellor of the Exchequer Rachel Reeves delivered a Budget to fix the foundations of our economy.

    • Chancellor protects public services as departments’ day-to-day spending set to grow by an average of 3.3% in real terms between 2023-24 and 2025-26, including increase of more than £22 billion for health to help bring down waiting lists.
    • Budget will restore economic stability and begin a decade of national renewal, providing a boost to public investment by over £100 billion over the next five years across roads, rail, schools and hospitals whilst keeping debt on a downward path.
    • No change to working people’s payslips as income tax, employee national insurance and VAT stay the same, but businesses and the wealthiest asked to pay more.

    The Chancellor has delivered a Budget to fix the foundations to deliver on the promise of change after a decade and a half of stagnation. She has set out plans to fix the NHS and rebuild Britain, while ensuring working people don’t face higher taxes in their payslips.

    The government was handed a challenging inheritance; £22 billion of unfunded in-year spending pressures, debt at its highest since the 1960s, unrealistic plans for departmental spending, and stagnating living standards.

    As a mission-led government, the Chancellor has today made clear the difficult choices this government will make to rebuild the country. This Budget takes the difficult decisions on tax, spending and welfare to restore economic and fiscal stability, so that the government can invest in the country’s future and achieve its mission for growth. This means hospital waiting lists will be cut with room to invest in Britain to rebuild our schools, hospitals and broken roads.

    The government is protecting working people’s living standards by raising the National Living Wage, cutting duty on draught pints, keeping bus fares down, and not increasing the main rates of income tax, employee national insurance, and VAT.

    The Budget will help rebuild Britain by boosting public investment by over £100 billion over the next five years while exceeding the manifesto commitment to fix an extra 1 million potholes per year with an additional £500 million for local road maintenance in 2025-26.

    Fixing the NHS and reforming public services

    By repairing the public finances and restoring economic stability, the Budget delivers on a new settlement for public services, increasing day to day spending for public services by 3.3% on average in real terms over this year and next to fix the NHS, boost the education system and repair the criminal justice system.

    This government has been clear from the start it will not tolerate wasteful spending – and that means treating taxpayers’ money with respect. For the next financial year, all government departments have a 2% productivity, efficiency, and savings target, that is expected to save billions of pounds.

    • The Chancellor has confirmed an additional £22.6 billion for day-to-day spending over two years for the Department of Health and Social care, supporting the NHS to deliver an extra 40,000 elective appointments per week, delivering on one of the Government’s first aims in office to reduce waiting times in the NHS.
    • The government is investing around £1.5 billion capital funding for new surgical hubs, diagnostic scanners and new beds across the NHS estate to create more treatment space in emergency departments, reduce waiting times and help shift more care into the community.
    • £100 million will be earmarked to carry out 200 GP estate upgrades across England, supporting improved use of existing buildings and space, boosting productivity and enabling delivery of more appointments.
    • The Chancellor has focused on improving education as part of her first Budget, with an additional £4 billion for the sector, including £2.3 billion into the core schools’ budget which increases per pupil spending in real terms.
    • This will allow 100 project plans to begin delivery across England next year and begin to tackle the crumbling school and college buildings across the country. This paves the way for a long-term strategy to improve schools nationwide so that students can learn in safe, state-of-the-art facilities, tailored to the needs of 21st-century education.
    • The Chancellor will provide £1.4 billion for the school rebuilding programme, including an increase of £550 million this year.

    In addition to these commitments, this government is securing our borders and taking back our streets.

    • The new Border Security Command will smash the organised criminal gangs by deploying 100 new NCA officers and increasing cooperation with European intelligence agencies and police forces.
    • Smashing gangs and boosting the processing of asylum claims forms a crucial part of the government’s plan to cut asylum support costs by more than £4bn over the next 2 years compared to the previous government’s spending trajectory.
    • The Home Office settlement will put us on track to start delivering the manifesto pledge to boost visible neighbourhood policing with 13,000 more neighbourhood officers and PCSOs.

    Protecting working people and living standards

    While fixing the inheritance requires tough decisions, the Chancellor has committed to protecting the living standards of working people. The decisions taken by the Chancellor to rebuild public finances enable the government to deliver on its pledge to not increase National Insurance, VAT, or Income Tax on working people, meaning they will not see higher taxes in their payslip. In addition:

    • The Chancellor has made the decision to protect working people from being dragged into higher tax brackets by confirming that Income Tax and National Insurance Contributions thresholds will be unfrozen from 2028-29 onwards.
    • The National Living Wage will increase from £11.44 to £12.21 an hour from April 2025, which means a pay boost for 3 million workers. The 6.7% increase – worth £1,400 a year for a full-time worker – is a significant move towards delivering a genuine living wage.  The National Minimum Wage for 18 to 20-year-olds will also rise from £8.60 to £10.00 an hour.
    • The Chancellor is also protecting motorists by freezing fuel duty for one year and extending the temporary 5p cut to 22 March 2026 – a tax cut worth £3 billion. This will save the average car driver £59, vans £126 and Heavy Goods Vehicles £1,079 next year.
    • To support the take-up of zero emission cars, Vehicle Excise Duty (VED) First Year Rates (FYRs) are changing from 2025-26. Rates for zero emission cars will be frozen at £10 until 2029-30 while rates for hybrid and petrol/diesel cars will rise from 1 April 2025.
    • The weekly earnings limit for Carer’s Allowance will be increased to 16 hours at the National Living Wage, worth an additional £45 a week from April next year, making over 60,000 carers eligible for support, and helping carers to balance work and caring responsibilities. This is the largest ever increase to the earnings limit and provides certainty for carers with a commitment that the earnings limit will increase with the National Living Wage in the future.
    • To help ensure pensioners are protected in their retirement, the Budget will also confirm a 4.1% increase to the basic and new State Pension as well as the standard minimum guarantee for Pension Credit, from April next year.
    • Over 12 million pensioners will benefit from this as the full new State Pension will rise from £221.20 to £230.25 a week, providing an additional £470 a year, while the full basic State Pension will increase from £169.50 to £176.45 per week, worth an extra £360 annually.
    • The Pension Credit Standard Minimum Guarantee will also increase by 4.1% from April 2025, meaning an annual increase of £465 in 2025-26 in the single pensioner guarantee and £710 in the couple guarantee.
    • The administration of Pension Credit and Housing Benefit will be brought together for new claimants from 2026. This is two years earlier than previously planned, and will support more people to receive the benefits that they are entitled to.
    • In addition, working-age benefits and the Additional State Pension will rise by 1.7% in April 2025, in line with inflation. This increase will see around 5.7 million families on Universal Credit gain an average of £150 annually.

    Rebuilding Britain

    This government will not make a return to austerity and will instead boost investment to rebuild Britain by investing in the fabric of the country, as well as supporting the industries of the future. This will go towards rebuilding our schools, hospitals and roads, turbocharging the delivery of 1.5 million homes, and unlocking long-term economic growth.

    This comes on top of action already taken under the government’s growth mission including establishing the National Wealth Fund, publishing the Industrial Strategy green paper, and hosting the International Investment Summit.

    • The government is exceeding its manifesto commitment to fix an extra 1 million potholes per year, with an additional £500 million for local road maintenance in 2025-26 – an almost 50% increase on the commitment made by the previous government for the current financial year.
    • This brings the total amount dedicated to fixing the roads in England over the next year to nearly £1.6 billion.
    • This government is growing day-to-day spending at an average of 2.0% per year in real terms between 2023-24 and 2029-30 to support public services.
    • This government is boosting public investment by over £100 billion over the next five years whilst keeping debt on a downward path, with a greater focus on value for money and delivery to help unlock long-term growth.
    • Capital investment will increase by £13 billion next year, taking total departmental capital spending to £131 billion in 2025-26. This includes increased investment in local roads maintenance and local transport, supporting everyday journeys, and driving growth in our regional towns and cities.
    • The government is also making the reforms needed to deliver sustained growth in the long-term. These include ambitious planning reforms to remove barriers to growth, the development of a 10-year infrastructure strategy to be published alongside Phase 2 of the Spending Review, the publication shortly of the Get Britain Working White Paper, and the establishment of Skills England to ensure we have the highly-trained workforce needed to deliver economic growth.
    • An extra £200 million will be given to Metro Mayors for local transport in 2025/26, bringing City Region Sustainable Transport Settlements to over £1.3 billion.
    • The government is also announcing over £650 million for improving transport in towns, villages, and rural areas alongside our city regions.
    • Single bus fares will be kept down at £3 until the end of 2025, as part of an over £1bn package to support bus services across the country.
    • To fully harness its potential and foster a dynamic investment economy, the government is protecting record levels of government R&D investment with £20.4 billion allocated in 2025-26.
    • To boost digital infrastructure in under-served areas across the UK and support growth in the digital and technology sectors, the government will invest over £500 million in Project Gigabit and the Shared Rural Network next year.
    • A new housing package will include £500 million in new funding for the Affordable Homes Programme, increasing it to £3.1 billion, the biggest annual budget for affordable housing in over a decade. This brings total investment in housing supply to over £5 billion and supports the delivery of tens of thousands of new homes.
    • £3 billion of additional support will be provided to SMEs and the Build to Rent sector by expanding existing housing guarantee schemes to support a strong and diverse private housing market.
    • The Budget also began the government’s reform of business rates to help level the playing field for high streets across the country as from 2026-27 permanently lower tax rates for retail, hospitality and leisure properties will be introduced. This will be funded sustainably by introducing a higher multiplier for the most valuable properties, including distribution warehouses used by online giants.
    • To support the transition, the Chancellor also announced a 40% relief for retail, hospitality and leisure, up to a cap of £110,000 per business. The small business multiplier will also be frozen next year to protect against inflationary increases. This support is worth almost £2.4 billion over the next five years. One third of business properties will continue to pay no business rates because of Small Business Rates Relief.

    Repairing public finances

    The Chancellor has made clear that, whilst protecting working people with measures to reduce the cost of living, there would be difficult decisions required on tax. The Budget will ask businesses and the wealthiest to pay their fair share while making taxes fairer. This will go directly towards fixing the foundations and funding public services such as the NHS and education.

    • The rate of employer National Insurance will increase by 1.2 percentage points, to 15% from 6 April 2025. The Secondary Threshold – the level at which employers become liable to pay national insurance on each employee’s salary – will reduce from £9,100 per year to £5,000 per year.
    • The smallest businesses will be protected as the Employment Allowance will increase to £10,500 from £5,000 and be extended to all eligible employers by removing the £100,000 cap, allowing firms to employ up to four National Living Wage workers full time without paying employer National Insurance on their wages.
    • Capital Gains Tax (CGT) will increase from 10% to 18% for those paying the lower rate, and 20% to 24% for those paying the higher rate. These new rates will match the residential property rates, which will unchanged at 18 for the lower rate and 24% for the higher rate.
    • To encourage entrepreneurs to invest in their businesses, Business Asset Disposal Relief (BADR) will remain at 10% this year, before rising to 14% on 6 April 2025 and 18% from 6 April 2026-27.
    • The OBR say changes to CGT will raise £2.5 billion by the end of the forecast and the UK will continue to have the lowest CGT rate of any European G7 country.
    • Inheritance tax thresholds will be fixed at their current levels for a further two years until April 2030. More than 90% of estates each year will not pay inheritance tax. From April 2027 inherited pension pots will be subject to inheritance tax. This removes a distortion which has led to pensions being used as a tax planning vehicle to transfer wealth rather than their original purpose to fund retirement.
    • From April 2026, agricultural property relief and business property relief will be reformed. The highest rate of relief will continue at 100% for the first £1 million of combined business and agricultural assets on top of the existing nil-rate bands, fully protecting the majority of businesses and farms. The rate of relief will reduce to 50% after the first £1 million. Reforms will affect the wealthiest 2,000 estates each year. Inheritance tax reforms are predicted by the OBR to raise £2 billion in total to support public services.

    • The government will also uprate alcohol duty in line with RPI, except for most drinks in pubs. To support British pubs, and brewers, the government is reducing duty on qualifying draught products, which represent approximately 3 in 5 alcoholic drinks sold in pubs.
    • This measure reduces duty bills by over £85 million a year, cutting duty on an average strength pint in a pub by a penny. The value of the relief available to small producers will also be increased to help smaller brewers and cidermakers.   

    • From 2026-27 Air Passenger Duty (APD) rates for short and long-haul flights will be adjusted to partially account for previous high inflation. For economy passengers, this is only a £1 increase for domestic flights, £2 extra for short haul, and £12 more for long-haul flights, with children under the age of 16 remaining exempt from APD. APD for larger private jets will be increased by a further 50%. These changes will help align with the government’s environmental objectives.

    To further support the government’s mission to fix the NHS, the Budget announces a package of measures that disincentivise activities that cause ill health, by:

    • Renewing the tobacco duty escalator which increases all tobacco duty rates by RPI+2% plus an above escalator increase to hand rolling tobacco (totalling RPI+12%).  
    • Introducing a new vaping duty at a flat rate of 22p/ml from October 2026, accompanied by a further one-off increase in tobacco duty to maintain financial incentive to choose vaping over smoking. 
    • To help tackle obesity and other harms caused by high sugar intake, the Soft Drinks Industry Levy will increase over the next five years to account for inflation since it was last updated in 2018, and the duty will also rise in line with inflation every year going forward.

    The government set out the next steps to deliver its tax manifesto commitments in the July Statement. Having consulted on the final policy details where appropriate, Budget delivers the government’s manifesto commitments to raise revenue to pay for first steps, with reforms that are underpinned by fairness, and tackle tax avoidance by:  

    • A new residence-based regime will replace the current non-dom regime from April 2025 and will be designed to attract investment and talent to the UK.
    • Offshore trusts will no longer be able to be used to shelter assets from Inheritance Tax, and there will be transitional arrangements in place for people who have made plans based on current rules.
    • The planned 50% reduction for foreign income in the first year of the new regime will be removed.
    • Reforms to the non-dom regime will raise a total of £12.7 billion according to the OBR.

    • The tax treatment of carried interest will be reformed by first increasing the Capital Gains Tax rates on carried interest to 32% and then, from April 2026, moving to a revised regime – with bespoke rules to reflect the characteristics of the reward.
    • The Higher Rate for Additional Dwellings surcharge of Stamp Duty Land Tax will rise from 3 to 5%, providing those looking to move home, or purchase their first property, with a comparative advantage over second home buyers, landlords, and businesses purchasing residential property.
    • To secure additional funding to help deliver commitments relating to education and young people, the government will introduce 20% VAT on education and boarding services provided for a charge by private schools from 1 January 2025. The government will also remove business rates charitable rate relief from private schools in England from April 2025. 
    • Over the next five years HMRC, will look to close the UK’s tax gap – the amount of uncollected tax owed to the UK – by bringing in an additional £6.5 billion per year. The revenue will go directly to funding UK public services and fixing the foundations of the economy.
    • The package to close the tax gap will include overhauling HMRC’s IT system to improve their debt management system to ensure tax debt enquiries can be dealt with faster, improving the productivity of the organisation. 5000 additional compliance staff will be recruited and 1,800 debt management staff will also be maintained and recruited. HMRC’s services will be also digitised to make it easier and simpler for taxpayers to self-serve and manage their tax affairs.

    The government has also published its Corporate Tax Roadmap alongside the Budget. This will offer the certainty that encourages investment and gives business the confidence to grow. The Roadmap includes commitments:

    • to cap the headline rate of Corporation Tax at 25%, which is the lowest in the G7;
    • to maintain our world leading capital allowances system (including permanent full expensing and the £1 million Annual Investment Allowance);
    • to preserve the generosity of our R&D reliefs; and
    • to develop a new process for increasing the tax certainty available in advance for major investments.

    Strengthening the fiscal framework

    The Chancellor has paved the way for growth while doubling down on fiscal responsibility by making reforms to the fiscal framework. This is based on two new fiscal rules: the stability rule and the investment rule.

    • The stability rule will balance the current budget, so day-to-day costs are met by revenues.
    • The investment rule will ensure that net financial debt is falling as a proportion of GDP. This rule keeps debt on a sustainable path whilst allowing the step change needed for investment.
    • Both of these rules will be met two years early in 2027-28.
    • This investment will be underpinned by clear guardrails to ensure it is high quality and well delivered.
    • Our ten-year infrastructure strategy will provide industry a vision of the government’s priorities and a credible delivery plan to encourage investment and supply chains.
    • NISTA will be the central body that brings strategy and delivery together under one roof to implement this strategy working across Whitehall and industry.
    • Further reforms will help deliver stability by holding Spending Reviews every two years, setting plans for at least three years to ensure public services are always planned and improve value for money. One major fiscal event per year will give families and businesses stability and certainty on tax and spending changes.
    • The Fiscal Lock will ensure no future government can sideline the OBR again, and we are committing to improving the transparency and consistency of the spending information shared with the OBR.
    • The government will also introduce new controls: that financial investments should by default target a return for the Exchequer that at least covers the government’s cost of borrowing, that all large-scale financial transactions will be managed by expert bodies like the National Wealth Fund, and that the government will publish an annual report on the performance and value of its financial assets based on accounts audited by the National Audit Office.

    Updates to this page

    Published 30 October 2024

    MIL OSI United Kingdom

  • MIL-OSI Security: Miami Resident Charged with Kidnapping Resulting in Death

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

    MIAMI – Today, Miami resident Gustavo Alfonso Castano Restrepo, 55, appeared before a U.S. Magistrate Judge on an indictment charging him with kidnapping resulting in death. 

    According to the unsealed indictment, on or about May 30, 2016, in Miami-Dade County, in the Southern District of Florida, and elsewhere, Restrepo, did willfully and unlawfully seize, confine, inveigle, decoy, kidnap, abduct, and carry away and hold a person, that is, Liliana Moreno, for reward and otherwise, and did use a means, facility, and instrumentality of interstate commerce, that is, a cellular telephone, the internet, a motor vehicle, and the Homestead Extension of Florida’s Turnpike, in the commission and in furtherance of the offense. The kidnapping resulted in the deaths of Liliana Moreno and Daniella Moreno.

    Restrepo is currently being detained, following today’s hearing in Miami. A pre-trial detention hearing in Miami Magistrate Court is scheduled for Nov. 1.

    If Restrepo is convicted of the charged offense, the mandatory minimum sentence is life in prison and the maximum penalty is death.

    U.S. Attorney Markenzy Lapointe for the Southern District of Florida, Special Agent in Charge Jeffrey B. Veltri of the FBI, Miami Field Office, Chief Edwin Lopez of the Doral Police Department, and Director Stephanie V. Daniels of the Miami-Dade Police Department (MDPD) made the announcement.

    FBI Miami, the Doral Police Department, MDPD, and FBI’s South Florida Violent Crime/Fugitive Task Force are investigating this matter.  Assistant U.S. Attorney Dwayne Williams is prosecuting the case.

    Anyone with information about this matter or any other federal crime is urged to contact the FBI by calling 1-800-CALL-FBI or filing a report at tips.fbi.gov.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    You may find a copy of this press release (and any updates) on the website of the United States Attorney’s Office for the Southern District of Florida at www.justice.gov/usao-sdfl.

    Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov, under case number 24-cr-20463

    ###

    MIL Security OSI

  • MIL-OSI Security: U.S. Attorney’s Office and FBI Announce Charges in Domestic Violence and Firearms Case

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

    ALBUQUERQUE – A Red Valley, Arizona man was charged by indictment with kidnapping, assault and federal firearms offenses stemming from a domestic violence incident in Shiprock, New Mexico.

    Curley Nakai Jr., 23, an enrolled member of the Navajo Nation, appeared before a federal judge and will remain in custody pending trial.

    According to court records, on August 24, 2024, Nakai allegedly assaulted his girlfriend, Jane Doe, in Shiprock, New Mexico. A witness observed Nakai dragging Jane Doe by her shirt and striking her. Nakai then forced Jane Doe into the backseat of a pickup truck. Concerned for Jane Doe’s safety, the witness followed the pickup and attempted to get identifying information. While following, the witness saw Nakai appear to punch Jane Doe in the vehicle.

    The situation escalated when Nakai and Jane Doe arrived at a supermarket parking lot. As police were contacted by the witness, Nakai exited the pickup and pointed a rifle at her while yelling aggressively. At this point, the witness was approximately thirty feet away with her car window down. After driving past the pickup and parking nearby, the witness observed that Jane Doe managed to exit the vehicle and walk awayy.

    If convicted, Nakai faces up to life in prison.

    U.S. Attorney Alexander M.M. Uballez and Raul Bujanda, Special Agent in Charge of the FBI Albuquerque Field Office, made the announcement today.

    The Farmington Resident Agency of the FBI’s Albuquerque Field Office investigated this case with assistance from the Navajo Police Department and Department of Criminal Investigations. Assistant United States Attorney Nicholas J. Marshall is prosecuting the case.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    # # #

    MIL Security OSI

  • MIL-OSI Security: Florida Company Pleads Guilty to Conspiring to Sell Misbranded N95 Masks to Hospital in Early Months of COVID-19 Pandemic

    Source: Office of United States Attorneys

    Two individuals also pleaded guilty to misbranding N95 masks and conspiracy to commit price gouging

    BOSTON – A Florida company, and two individuals associated with the company, have pleaded guilty to charges associated with shipping facemasks that were misbranded as N95 respirators, and price gouging hospitals, during the earliest phase of the COVID-19 pandemic.  

    JDM Supply LLC (JDM) pleaded guilty to one count of conspiracy to introduce misbranded devices into interstate commerce with intent to defraud or mislead, in violation of the Federal Food, Drug and Cosmetic Act. Daniel Motha, 40, of Miami, Fla., and Jeffrey Motha, 36, of Norfolk, Mass., also pleaded guilty to one count of introduction of misbranded devices into interstate commerce and one count of conspiracy to commit price gouging in violation of the Defense Production Act. U.S. District Court Judge Myong J. Joun scheduled sentencing for Daniel Motha and Jeffrey Motha on March 4, 2025 and JDM on March 25, 2025. In August 2023, a third individual, Jason Colantuoni of Norfolk, Mass, pleaded guilty to conspiracy to commit price gouging in connection with this investigation.  

    In the spring of 2020, during the earliest phase of the COVID-19 pandemic, JDM and a company identified as “Company 1” conspired to ship facemasks that were misbranded as National Institute of Occupational Safety and Health (NIOSH)-approved, N95 respirators. One hospital accepted and paid for hundreds of thousands of purported N95 masks that were manufactured by Company 1 and sold by JDM. Ultimately, the hospital did not use the masks, which were eventually returned to Company 1. JDM misled the hospital into believing that the Company 1 masks were NIOSH-approved N95s, when in fact they were not.

    In August 2020, a NIOSH lab tested a sample of the Company 1 masks that had been shipped to the hospital. The masks tested between 83.94% and 93.24% filtration efficiency, thus falling below the 95% minimum level of filtration efficiency required for N95 respirators.  

    Daniel Motha and Jeff Motha conspired to use JDM to exploit and profit off of the critical need of hospitals and healthcare workers for scarce N95 masks during the COVID-19 pandemic. They accumulated N95 masks from various sources and then sold the N95 masks through JDM to hospitals in Massachusetts, and elsewhere, at prices in excess of the prevailing market price.

    The charge of conspiracy to introduce or deliver for introduction into interstate commerce a misbranded device with intent to defraud or mislead, brought against JDM, provides for a fine of $500,000 or twice the pecuniary gain or loss of the offense, whichever is greater and up to five years of probation. The charge of introduction or delivery for introduction into interstate commerce a misbranded device provides for a sentence of up to one year in prison; up to one year of supervised release; and a fine of $100,000. The charge of conspiracy to commit price gouging in violation of the Defense Production Act provides for a sentence of up to one year in prison; up to one year of supervised release; and a fine of up to $10,000. Sentences are imposed by a federal judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.

    Acting United States Attorney Joshua S. Levy; Ketty Larco-Ward, Inspector in Charge of the U.S. Postal Inspection Service, Boston Division; Fernando McMillan, Special Agent in Charge of the Food and Drug Administration, Office of Criminal Investigations; Christopher Algieri, Special Agent in Charge of the U.S. Department of Veterans Affairs Office of Inspector General, Northeast Field Office; Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division; and Michael J. Krol, Acting Special Agent in Charge of Homeland Security Investigations in New England made the announcement today. Assistant U.S. Attorneys Bill Brady and Howard Locker of the Health Care Fraud Unit are prosecuting the case.

    On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts. For more information on the department’s response to the pandemic, please visit https://www.justice.gov/coronavirus and https://www.justice.gov/coronavirus/combatingfraud
        
    Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud Hotline via the NCDF Web Complaint Form.
     

    MIL Security OSI

  • MIL-OSI Security: South Burlington Man Charged with Enticing Minors to Produce Child Sexual Abuse Materials

    Source: Office of United States Attorneys

    Burlington, Vermont – The United States Attorney’s Office stated that Jason McGrath, 44, of South Burlington, Vermont has been charged by criminal complaint with enticing minors to produce child sexual abuse material.

    On October 29, 2024, McGrath appeared before United States Magistrate Judge Kevin J. Doyle, who ordered that McGrath be detained pending a detention hearing on Friday, November 1, 2024.

    According to court records, between March 25, 2023 and September 26, 2024, McGrath used an on-line chat application to knowingly persuade, induce, entice, and coerce minors to produce child pornography, now referred to as child sexual abuse material. McGrath explicitly sought young girls via the on-line application, requested others to sexually abuse them, and sought video and visual depictions of the abuse. McGrath also is alleged to have paid money in exchange for child sexual abuse materials, including by sending funds through an online payment system to a country in Southeast Asia known to law enforcement as a location where child-sex-trafficking networks operate.

    On the afternoon of October 28, 2024, McGrath was detained by Customs and Border Protection while reentering the United States from Canada. While McGrath was detained, law enforcement executed a search warrant at his South Burlington residence. During the search warrant execution, law enforcement located a substantial amount of computing equipment, including a high-performance gaming computer, an enterprise-level server rack (including a router, network switch, and network area storage), and other equipment that collectively is capable of storing and processing large amounts of data. Review of this equipment by law enforcement is ongoing.

    The United States Attorney’s Office emphasizes that the complaint contains allegations only and that McGrath is presumed innocent until and unless proven guilty. McGrath faces a mandatory minimum of 10 years, and up to life imprisonment if convicted. The actual sentence, however, would be determined by the District Court with guidance from the advisory United States Sentencing Guidelines and the statutory sentencing factors.

    United States Attorney Nikolas P. Kerest commended the investigatory efforts of Homeland Security Investigations and the Vermont Internet Crimes Against Children Taskforce, and thanked U.S. Customs and Border Protection and the Chittenden County Sheriff’s Department for their assistance.

    The prosecutor is Assistant United States Attorney Jonathan A. Ophardt. McGrath is represented by the Office of the Federal Public Defender.

    This case was brought as part of Project Safe Childhood, a nationwide initiative to combat the growing epidemic of child sexual exploitation and abuse launched in May 2006 by the Department of Justice. Led by U.S. Attorneys’ Offices and CEOS, Project Safe Childhood marshals federal, state, and local resources to better locate, apprehend and prosecute individuals who exploit children via the Internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, please visit Justice.gov/PSC.

    MIL Security OSI

  • MIL-OSI United Kingdom: UK budget: A drop in the ocean compared to the change needed

    Source: Scottish Greens

    Labour could have taxed the super rich to bring in the funding needed to undo cruel Tory policies and drop Labour’s own cuts

    A response from Scottish Green finance spokesperson Ross Greer on the UK budget.

    Mr Greer said: “This timid budget is a drop in the ocean compared to the scale of change that is actually needed. Labour has under-promised and still somehow under-delivered. 

    “The failure to end the cruel two child cap or the Winter Fuel Payment cut will have dire consequences for vulnerable people and families across the UK. Children will continue to live in poverty and pensioners will die this winter, all entirely avoidably.

    “The Chancellor could have targeted the super rich to bring in the funding needed to undo cruel Tory policies and drop Labour’s own cuts. Instead she has chosen to hike up bus fares in England and pour £3 billion into keeping a climate-busting fuel duty freeze. 

    “A responsible government would invest in cheaper public transport and walking, wheeling and cycling infrastructure. The Scottish Greens did both of those during our time in government, delivering free bus travel for young people and removing peak rail fares. Labour have instead chosen to encourage even more car journeys while the climate crisis spirals out of control.

    “There are a few important steps in the right direction in this budget, such as the increase in tax on private jets. The Scottish Greens have led calls for this and whilst it doesn’t go as far as we would like, it is progress on one of the most incredibly polluting forms of travel.
     
    “What was missing was any confirmation from the Chancellor that she will take the necessary steps to finish the ten-year process of devolving Air Passenger Duty and allowing Scotland to make these decisions for ourselves.

    “There were also some deeply disappointing announcements. The social security section of the speech could have been lifted straight from the nastiest Tory conference speeches. Labour are continuing the Conservative tactic of punching down at vulnerable people when there is so much more money being lost through tax avoidance by the super-rich.”

    MIL OSI United Kingdom

  • MIL-OSI Russia: Yuri Trutnev got acquainted with the progress of construction of facilities within the framework of the Blagoveshchensk master plan and held a meeting with investors from the Amur Region

    Translation. Region: Russian Federation –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Previous news Next news

    Yuri Trutnev held a meeting on the implementation of investment projects in the region as part of a working visit to the Amur Region

    During his working visit to the Amur Region, Deputy Prime Minister and Presidential Plenipotentiary Representative in the Far Eastern Federal District Yuri Trutnev got acquainted with the progress of construction of a number of facilities included in the Blagoveshchensk master plan. Among them are the cross-border cable car and the multifunctional pavilion “Tribuna Hall”. The Deputy Prime Minister also held a meeting on the implementation of investment projects in the Amur Region.

    Before inspecting the master plan facilities, Yuri Trutnev visited the site of the second stage of construction of engineering structures to protect against flood waters on the Zeya River in the Blagoveshchensk village of Vladimirovka and got acquainted with the progress of construction of the coastal protection structure. The dam is being built as part of the state program “Construction”. The structure will protect the territory, where more than 2 thousand people live, from floods. The site involves 210 people and 91 units of equipment. The work is ahead of schedule.

    The management of the contractor company has submitted an initiative to postpone the construction of the dam from 2027 to 2025 with the allocation of the necessary funding for this. Yuri Trutnev instructed the region to work on this issue together with the Ministry of Construction and submit relevant proposals to the Government of Russia.

    The Deputy Prime Minister got acquainted with the progress of construction of the Golden Mile facilities, a project within the framework of the integrated development of Blagoveshchensk. The first was the site of the cross-border cable car across the Amur. It will connect Blagoveshchensk and the Chinese city of Heihe. This will be the world’s first cable car between two countries. On the Russian side, a four-level passenger terminal with a total area of 26 thousand square meters will be built to accommodate the terminal station of the cable car, a platform and technological equipment for the cable car, a checkpoint across the state border of Russia, a duty-free shop, restaurants, shopping and entertainment facilities. Art spaces for passengers and city residents to relax will be created both inside the terminal and in the open air: on cascading terraces and observation decks. Work on the international facility is ongoing around the clock in two shifts.

    On the instructions of Russian President Vladimir Putin, a world-class Russian-Chinese business cooperation center is being created in the Amur Region. With the support of the Ministry for the Development of the Russian Far East and the Russian Government, a large city center, Tribuna Hall, is being built. Funds from the federal budget are being allocated through a single presidential subsidy. The construction of the facility has entered the home stretch. The building is 70% complete. The builders should complete the work by January, and the center will welcome its first visitors at the end of next year.

    The unique project on the Amur embankment includes a landscape park, a fountain complex, sports and children’s playgrounds. Next to the Tribuna Hall pavilion there is a square – an open space for holding mass events. In May of this year, the Fountain Alley began operating. It belongs to the Tribuna Hall cultural center and has become the largest light and music fountain complex in Eurasia.

    On the same day, the Deputy Prime Minister met with investors from the Amur Region. “The region occupies one of the leading places in the Far East in this indicator. At the same time, we must remember that a significant part of this flow is created by fulfilling direct instructions from the President of the Russian Federation Vladimir Vladimirovich Putin. This is the construction of the Vostochny Cosmodrome, the Amur Gas Processing Plant, and the Amur Gas Chemical Complex. Of course, investment activity is not limited to this. The activity of the head of the region in attracting investment for the Golden Mile projects deserves a positive assessment. These projects will benefit the Amur Region and the country. Federal measures to support projects in the Far East are working. In total, 51 investment projects with a total value of 2.3 trillion rubles are being implemented in the region. 16 projects have been implemented, about 12 thousand jobs have been created. It is important that this work does not stop, and investors come to the region to implement new projects. It is the attraction of investments that creates the conditions for all other work, for improvements in the social sphere, the improvement of cities and territories,” Yuri Trutnev opened the meeting.

    “Over the past five years, about 2.4 trillion rubles of investments have been attracted to the Amur Region. We reached a record volume of over 751 billion rubles last year. The main increase in funds attracted to the region was provided by the implementation of gas investment projects, the reconstruction of the Eastern Polygon of the BAM and the development of the construction industry. Today, 85 promising investment projects are being developed that will attract over 450 billion rubles and create 7.5 thousand jobs. Projects that involve the creation of manufacturing industries remain a priority for us. We are implementing the “turn to the East” concept, within the framework of which we plan to build a logistics complex and, in the future, a railway bridge across the Amur River in the Jalinda-Mohe area. We have developed and are constantly improving comprehensive support measures for investors,” said Vasily Orlov, Governor of the Amur Region.

    The new cross-border bridge between the Amur Region and China – Jalinda – Mohe will open a shorter exit to China and will reduce the route for transporting goods and raw materials by almost 2 thousand km. The new transport corridor will not only provide an alternative option for communication with Russia’s main trading partner and relieve the load on existing crossings, but will also speed up the delivery of raw materials from Yakutia and the north of the Amur Region to China. “A forecast for the cargo base has been formed for the Jalinda – Mohe project, the location and basic technical parameters of the future bridge have been agreed upon in the course of work with the Chinese side, and a joint conclusion has been made on the technical and economic feasibility of construction. The project has been included in the agenda of the Russian-Chinese subcommittee on cooperation in the field of transport, and there is an agreement to hold interstate consultations. Several models for implementing the project have been considered with the participation of the Russian Ministry of Transport and Russian Railways,” commented Vasily Orlov.

    The construction and launch of a mining and processing plant for processing nickel ore from the Kun-Manyo deposit was discussed. The investor will use the capabilities of the Amurskaya priority development area to build the plant. The project is at the stage of geological exploration and design and survey work. More than 1.7 thousand jobs will be created.

    Ogodzhinskaya Coal Company LLC presented a project for the development of the Sugodinsko-Ogodzhinskaya coal-bearing area in the Selemdzhinsky District. The investor has begun construction of a processing plant with a capacity of 2 million tons. Investments in the project will amount to about 100 billion rubles. Earthworks and concrete works have already been completed, the main frame of metal structures has been erected, and the completion of the main equipment of the plant is ongoing. The productivity of the complex of factories will be 30 million tons of coal per year. In total, it is planned to build seven processing plants. Construction of the first stage of the Ogodzhinskaya railway continues – 45 km of rails and sleepers out of 72 km have been laid. As a measure of state support, the investor plans to receive the status of a resident of the Amurskaya priority development area.

    A resident of the Amurskaya priority development area, the Far Eastern Agroterminal company, will invest more than 40 billion rubles in the framework of comprehensive business development in the Far East, including more than 26 billion rubles in the project to build an oil extraction plant as part of a production and logistics complex in the city of Belogorsk. At present, the site has already been prepared with landfill and water drainage. An industrial railway station with a capacity of 1.4 million tons of freight turnover per year is being built. The launch of production is scheduled for the end of 2026. The company also plans to develop the direction of a railway logistics operator with a fleet of wagons and tanks of 1.2 thousand units of rolling stock in the Far East to service the flow of finished products of the enterprise under construction.

    Lyubov Brish, CEO of Gazprom Helium Service, reported on the operation of the first small-tonnage natural gas liquefaction complex in the Amur Region in Svobodnensky District. The new production facility was built using tax breaks and preferences of the Amurskaya Priority Development Area. The natural gas liquefaction complex with a capacity of 1.5 tons of LNG per hour (12.6 thousand tons per year) was created to organize the infrastructure for autonomous gasification of socially significant facilities and to provide consumers in the Amur Region with gas motor fuel. “A comprehensive project has been implemented in the Far East using liquefied natural gas as a gas motor fuel and for autonomous gasification. This became possible thanks to the development of our own production and transportation capacities for LNG in the region – from Primorsky Krai to Amur Region – and successful experience in organizing LNG transportation routes,” Lyubov Brish said.

    In Blagoveshchensk, the Specialized Developer PIK Blagoveshchensk LLC is building housing as part of the Far Eastern Quarter program. 334 thousand square meters of housing will be built. In addition to residential development, the project provides for the construction of social infrastructure facilities – a school, kindergartens, and landscaping of courtyards. The total investment in the project will amount to 33.9 billion rubles. Construction and installation work is currently underway in six buildings, the arrangement of foundations and basements has been completed, and work is underway to install the monolithic frame of the buildings of the first stage, the total area of which will be 45.8 thousand square meters.

    “Today, the head of the region and I looked at the Golden Mile – work is in full swing there, Blagoveshchensk has begun to change. I always follow this very closely when I come. And I see that the ice has broken in Blagoveshchensk. The city is getting better. This is very important both for the mood and comfortable living of people, and for attracting Russian and foreign tourists,” said Yuri Trutnev.

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

    MIL OSI Russia News

  • MIL-OSI Economics: 2024 release wave 2 for Microsoft Dynamics 365 and Power Platform launches with hundreds of Copilot capabilities

    Source: Microsoft

    Headline: 2024 release wave 2 for Microsoft Dynamics 365 and Power Platform launches with hundreds of Copilot capabilities

    We’ve launched 2024 release wave 2 for Microsoft Dynamics 365, Microsoft Power Platform, and role-based Microsoft Copilot offerings—introducing a rollout of new features and enhanced capabilities releasing between October 2024 and March 2025. These updates include advanced Copilot capabilities for Microsoft 365 Copilot for Sales, Copilot for Service, and Copilot for Finance to empower your workforce, optimize business processes, and enhance customer engagement.

    Catch all the highlights and demos from today’s Microsoft Business Applications Launch Event. In addition to newly-announced features, you’ll learn how companies like Lynk & Co, Lifetime Products, Stoneridge Software, AIS, and Schneider Electric are leveraging these new features to drive transformation.

    Copilot and agents are the future of AI for business

    2.1 million users engage with Copilot across Microsoft business applications every month, including employees at companies like PayPal, HP, Lumen, and McKinsey & Company. These Copilot experiences can drive new levels of productivity and efficiency while offering high standards of privacy, security, and compliance.

    Moving forward, we envision AI-first organizations will comprise people, Copilot, and agents. Copilot is your AI assistant, designed to work for you. With Microsoft Copilot Studio, you can create, manage, and connect agents to Copilot. Organizations will have a network of agents, ranging from simple prompt-and-response systems to fully autonomous entities, that will operate on behalf of individuals, teams, or functions to execute and orchestrate business processes. Copilot serves as the interface for interacting with these agents, which can handle tasks such as accelerating lead generation, processing sales orders, and automating supply chains. At the Business Applications Launch Event, we showcased new features across Dynamics 365 and Microsoft Power Platform that demonstrate what’s possible with Copilot and agents.

    Thrive with customer experience applications

    2024 release wave 2 brings exciting new features to Dynamics 365 customer experience apps designed to deliver connected and personalized experiences for both customers and employees. These innovations focus on optimizing customer interactions and streamlining sales processes across your organization.

    New capabilities for Microsoft Dynamics 365 Customer Service, Microsoft Dynamics 365 Contact Center, and Microsoft Dynamics 365 Sales include a multilingual bot (supported languages), Copilot-generated prompts, in-line email functionality, and more. These features are set to transform how businesses engage with customers and manage internal processes.

    During the launch event, we showcased how Lynk & Co, an innovative car company, is leveraging the multilingual Copilot Studio bot in Dynamics 365 Customer Service. By using AI-powered voice recognition and Copilot-generated prompts, they’ve been able to optimize customer wait times and improve case resolution speed. These tools have enabled Lynk & Co to significantly reduce case review times while keeping their sales team in the loop, thanks to seamless data sharing between service and sales teams.

    With Copilot’s intelligent automation, sales managers at Lynk & Co can now focus on building customer relationships rather than manually sorting through documents. By streamlining workflows and providing actionable insights, Copilot empowers sales professionals to work more efficiently and drive business growth. These new capabilities—combined with tools like real-time prompts, the Sales Qualification Agent, and account summaries generated by Copilot—offer businesses a modern, intuitive way to stay connected with customers and make smarter decisions faster.

    Explore the release plans for Dynamics 365 Customer Service, Dynamics 365 Contact Center, and Dynamics 365 Sales.

    Defining autonomous enterprise resource planning (ERP) with innovative agents

    Microsoft Dynamics 365 ERP solutions introduce significant enhancements aimed at improving both core functionalities and autonomous capabilities. These updates include the introduction of five autonomous agents for Dynamics 365 designed to streamline processes and boost organizational efficiency. By automating routine tasks, businesses can focus more on strategic decision-making and adapt to the dynamic market landscape.

    For Lifetime Products, a leading global producer of outdoor consumer goods, these improvements have substantially enhanced the productivity of their finance team. The Account Reconciliation Agent for Dynamics 365 Finance autonomously identifies discrepancies between subledgers and ledgers, offering actionable recommendations and reducing manual effort. Additionally, automated bank reconciliation now matches transactions and summarizes histories, saving time and improving accuracy. These features have streamlined their month-end close process across multiple legal entities, enhancing both efficiency and compliance.

    In parallel, Microsoft Dynamics 365 Business Central updates have improved operations for more than 40,000 customers. The Sales Order Agent enables businesses like Stoneridge Software’s clients to manage sales orders without needing additional staffing, speeding up order processing while maintaining service quality. Interoperability between Dynamics 365 Business Central and Microsoft Dynamics 365 Field Service has streamlined service order management, reducing manual data entry and errors. This automation allows technicians to work more efficiently, improving the overall customer experience and ensuring timely service delivery.

    Explore the release plans for Dynamics 365 Finance, Microsoft Dynamics 365 Project Operations, Microsoft Dynamics 365 Supply Chain Management, Microsoft Dynamics 365 Commerce, Microsoft Dynamics 365 Human Resources, and Dynamics 365 Business Central.

    Unlock value everywhere with Microsoft Power Platform and Copilot Studio

    Microsoft Power Platform offers new capabilities that enhance automation and app development using AI-powered tools. Copilot simplifies workflows, generates apps, and assists with complex processes, enabling businesses to manage tasks more effectively. With new AI-driven features across Microsoft Power Platform you can create solutions across your organization in record time.

    At the launch event, we highlighted how Applied Information Sciences (AIS) is improving workforce efficiency in vendor invoice management using AI-enabled features in Microsoft Power Automate. With Copilot, automating processes such as routing and approvals based on predefined rules, AIS can handle a large volume of invoices daily, reducing manual input and increasing productivity. Users can easily update workflows with a few clicks, and the new summary functionality ensures clear tracking and sharing of updates.

    AIS’s onboarding process for new consultants supports ongoing training with Copilot in Microsoft Power Apps. “Search with Copilot” allows users to retrieve records using natural language queries, while the AI-enabled paste feature efficiently fills out onboarding forms, reducing manual data entry. Copilot Studio improves IT Helpdesk automation with task assignment and grounding third-party data sources through knowledge management.  This provides analytics for monitoring agent performance and improves accuracy while also enabling a continuous improvement process.

    Explore the release plans for Power Apps, Microsoft Power Pages,  Power Automate, and Copilot Studio.  

    Bring automation to your business with Copilot

    The latest improvements in Microsoft 365 Copilot for Sales, Copilot for Service, and Copilot for Finance focus on enhancing user experience by automating routine tasks and providing actionable insights through autonomous agents. These advanced functionalities allow sales teams, customer service representatives, and finance professionals to offload repetitive activities, enabling them to concentrate on strategic initiatives. As a result, organizations can optimize efficiency and improve overall productivity.

    For instance, companies like Lumen and Genpact have experienced significant time savings with Microsoft 365 Copilot for Sales and Microsoft 365 Copilot for Finance capabilities. Lumen reported a 94% reduction in research time for sales data, while Genpact achieved over a 50% decrease in payroll processing time through automated reconciliation. These enhancements demonstrate how Copilot agents are not only improving workflows but also positively impacting the workforce’s efficiency.

    Schneider Electric is another example of a company benefiting from these advancements. Its sales team can now effectively prioritize leads with the help of the Lead Intelligence Agent, which analyzes customer interactions and external data to deliver enriched insights. This streamlined approach allows sales representatives to engage with prospects more strategically, ultimately supporting their goal of enhancing efficiency and driving revenue growth.

    Explore the release plans for Microsoft Copilot for Finance, Microsoft Copilot for Service, and Microsoft Copilot for Sales.

    Business Applications Launch Event

    Dive deeper into the new and enhanced AI capabilities included in the 2024 release wave 2.

    Watch the virtual Microsoft Business Applications Launch Event

    Join us for the on-demand Microsoft Business Applications Launch Event to discover the latest enhancements in Dynamics 365, Microsoft Power Platform, and Microsoft Copilot apps. The event features in-depth demos of new autonomous agents and other capabilities designed to optimize your workflows and streamline operations.

    Don’t forget to review the detailed release plans for Dynamics 365 and Microsoft Power Platform. Stay updated on the latest features and upcoming enhancements, and create your personalized release plan using the release planner to ensure you’re equipped with the knowledge needed to maximize these new capabilities.

    MIL OSI Economics

  • MIL-OSI USA: SEC Announces New Members of Small Business Capital Formation Advisory Committee

    Source: Securities and Exchange Commission

    The Securities and Exchange Commission today announced four new members of the Small Business Capital Formation Advisory Committee. The new members were appointed to four-year terms and will join the 14 current Commission-appointed committee members.

    “I thank the new members for their willingness to serve on the Advisory Committee, which plays an important role in our work to facilitate capital formation for companies of every size,” said SEC Chair Gary Gensler. “Small businesses employ nearly half of America’s workforce and make up more than 99 percent of America’s businesses. The new members named today understand this well, and I am pleased the SEC will benefit from their valuable experiences and insights.”

    The new Commission-appointed committee members are:

    • Jennifer Newton – Managing Attorney and Founder, StartSmart Counsel; Miami
    • Rose Standifer – Partner, Foley Hoag LLP; Denver
    • Wendy Stevens – Partner, Forvis Mazars LLP; New York
    • Emily Underwood – Clinical Professor of Law, Bluhm-Helfand Director of the Innovation Clinic, The University of Chicago Law School; Chicago

    In addition to the 14 appointed members, the current committee members include the SEC’s Small Business Advocate, and three non-voting members appointed by the SEC’s Investor Advocate, the North American Securities Administrators Association, and the Small Business Administration, respectively. The committee also has an observer appointed by the Financial Industry Regulatory Authority.

    The committee provides advice and recommendations to the Commission on rules, regulations, and policy matters relating to small businesses, including smaller public companies. Committee members represent a diverse spectrum of entrepreneurs, investors, and advisers who work with early-stage private companies and smaller public companies, including minority- and women-owned small businesses. Additional information about the committee, its members, and prior meeting materials is available on the committee webpage.

    MIL OSI USA News

  • MIL-OSI Security: Edmonton — Alberta RCMP coordinate with communities to curtail copper wire crooks

    Source: Royal Canadian Mounted Police

    The Alberta RCMP is launching a community initiative in response to concerns about ongoing copper wire theft in eastern Alberta.

    To reduce the amount of theft, the RCMP’s Eastern and Central District’s Crime Reduction Units, along with K Division Criminal Analysis Section (K/DCAS), and Community Safety and Well-being Branch will be working with industry partners to determine areas that are being targeted and develop strategies to investigate, identify and ultimately arrest the individuals who are causing the most harm related to copper wire and precious metal thefts.

    Precious metals like copper are used in a variety of projects ranging from large scale industrial sites like power plants, cellphone towers and pipelines to smaller uses like the wiring in homes.

    Copper wire and other precious metals can be difficult to track making them ideal targets for criminals to steal. The theft of copper wire can have a large impact on the public; whether it’s having spare wire stolen from your personal property or damage caused to vital infrastructure across the province.

    Last year, in Alberta losses from copper wire theft including damages to property was in excess of 10 million dollars. There are a variety of things that the public and companies can do to help reduce the likelihood of copper wire theft in your communities:

    • Consider installing an alarm system with remote monitoring of surveillance cameras.
    • Ensure each entrance and exit of your commercial property has proper lighting and surveillance cameras clearly visible to deter criminal activity.
    • Arrange to have your precious metals laser engraved, so they can be easier identified and returned if recovered.
    • For metal purchasers, be cautious about purchasing material from unknown or suspicious sellers.
    • Always secure your valuables in a secure area.
    • Invest in fencing for extra protection and ensure it’s well-maintained
    • Always report suspicious persons you see at work sites, or on your property.

    “The reality of the situation is because copper wire is so common and can be almost impossible to identify if it isn’t laser engraved, catching and charging copper wire thieves can be very difficult,” said Staff Sergeant John Pike District Advisory non-commissioned officer of the RCMP Eastern Alberta District. “There are thousands of sites using copper wire, and we can’t be at all of them. That’s why it’s so important for everyone do their part whether it is securing your property, reporting suspicious activity or questioning sellers.”

    If you have any information about crimes in your community, please call your local RCMP detachment. If you wish to remain anonymous, you can contact Crime Stoppers at 1-800-222-8477 (TIPS), online at www.P3Tips.com or by using the “P3 Tips” app available through the Apple App or Google Play Store. To report crime online, or for access to RCMP news and information, download the Alberta RCMP app through Apple or Google Play.

    MIL Security OSI

  • MIL-OSI United Kingdom: A Budget to fix the foundations and deliver change for Northern Ireland

    Source: United Kingdom – Executive Government & Departments

    The UK Chancellor delivered the Autumn Budget today (Wednesday 30 October 2024)

    Autumn Budget 2024

    • Chancellor takes long-term decisions to restore stability, rebuild the United Kingdom and protect working people across Northern Ireland.
    • No change to working people’s payslips as employee national insurance, income tax and VAT stay the same, but businesses and the wealthiest asked to pay their fair share.
    • Record £18.2 billion for the Northern Ireland Executive in 2025/26 including an additional £1.5 billion through the Barnett formula.
    • City and Growth Deals confirmed to continue to unlock growth and investment, while over £45 million is provided for counter-terrorism and security funding.

    The Chancellor has delivered a Budget to fix the foundations to deliver on the promise of change after a decade and a half of stagnation. She set out plans to rebuild the United Kingdom, while ensuring working people across Northern Ireland don’t face higher taxes in their payslips.

    The UK Government was handed a challenging inheritance; £22 billion of unfunded in-year spending pressures, debt at its highest since the 1960s, an unrealistic forecast for departmental spending, and stagnating living standards.

    This Budget takes difficult decisions to restore economic and fiscal stability, so that the UK Government can invest in the economic future of Northern Ireland and lay the foundations for growth across the UK as its number one mission.

    The Chancellor announced that the Northern Ireland Executive will be provided with a £18.2 billion settlement in 2025/26 – the largest in real terms in the history of devolution. This includes a £1.5 billion top-up through the Barnett formula, with £1.2 billion for day-to-day spending and £270 million for capital investment.

    Secretary of State for Northern Ireland Hilary Benn said:

    This is the biggest real terms settlement for Northern Ireland since devolution. 

    The Northern Ireland Executive will get an additional £640 million in Barnett consequentials this year, and an additional £1.5 billion next year. 

    This will provide  a strong foundation for stability and growth, and sees the UK Government delivering real change for the people of Northern Ireland.

    We have also confirmed the UK Government’s investment in Northern Ireland’s City and Growth deals, which is a huge boost to communities in both rural and urban areas. The Mid South West and Causeway Coast and Glens Deals alone will receive a combined investment from the UK Government of £162 million, and I look forward to seeing them progress and make a real impact now and in years to come. 

    Meanwhile, measures such as the Northern Ireland Enhanced Investment Zone, continuing support for Northern Ireland integrated schooling and the UK-wide investment of over £500m in digital infrastructure through Project Gigabit and the Shared Rural Network benefit people across Northern Ireland’s communities.

    The increase to £37.8 million in funding for the Police Service of Northern Ireland through the Additional Security Fund, combined with £8 million for the Executive Programme on Paramilitarism and Organised Crime, underscores the UK Government’s continuing and steadfast commitment to security.

    This budget is positive news for people across Northern Ireland, encouraging economic growth and enabling the conditions for a brighter future.

    Protecting working people and living standards

    While fixing the inheritance requires tough decisions, the Chancellor has committed to protecting the living standards of working people. The decisions taken by the Chancellor to rebuild public finances enable the UK Government to deliver on its pledge to not increase National Insurance, Income Tax or VAT on working people in Northern Ireland, meaning they will not see higher taxes in their payslip.

    • The National Living Wage will increase from £11.44 to £12.21 an hour from April 2025. The 6.7% increase – worth £1,400 a year for a full-time worker – is a significant move towards delivering a genuine living wage.
    • The National Minimum Wage for 18 to 20-year-olds will also see a record rise from £8.60 to £10 an hour.
    • Working people will benefit from these increases, with there estimated to be around 100,000 minimum wage workers in Northern Ireland in 2023.
    • The Chancellor has made the decision to protect working people in Northern Ireland from being dragged into higher tax brackets by confirming that Income Tax and National Insurance Contributions thresholds will be unfrozen from 2028-29 onwards. 
    • The Chancellor is also protecting motorists by freezing fuel duty for one year – a tax cut worth £3 billion, with the temporary 5p cut extended to 22 March 2026. This will benefit an estimated 1.3 million people in Northern Ireland, saving the average car driver £59, vans £126 and Heavy Goods Vehicles £1,079 next year.
    • To support pubs and smaller brewers in Northern Ireland, the UK Government is cutting duty on qualifying draught products by 1p, which represent approximately 3 in 5 alcoholic drinks sold in pubs. This measure reduces duty bills by over £70 million a year, cutting duty on an average strength pint in a pub by a penny. The relief available to small producers will be updated to help smaller brewers and cidermakers.  

    Rebuilding the United Kingdom

    This UK Government will not make a return to austerity and will instead boost investment to rebuild Britain and lay the foundations for growth in Northern Ireland. This includes £760 million of targeted funding for the Northern Ireland Executive, of which £662 million is as committed in the 2024 restoration financial package and £90 million is for capital investment.

    • The UK Government today confirmed that investment in the Mid South West and Causeway Coast and Glens City Deals will continue, supported by a value for money assessment as part of the review of the business cases for projects to ensure best value is being delivered. The Mid South West and Causeway Coast and Glens Deals deliver a combined investment from UK Government of £162 million over 15 years to rural areas in Northern Ireland.
    • The Chancellor committed the UK Government to working closely with the Northern Ireland Executive on the Industrial Strategy, 10-year infrastructure strategy and the National Wealth Fund – to ensure the benefits of these are felt UK-wide and as part of the relationship reset between governments. These will mobilise billions of pounds of investment in the UK’s world-leading clean energy and growth industries.
    • The UK Government has today reaffirmed its commitment to develop an Enhanced Investment Zone in Northern Ireland and will continue to work closely with the Northern Ireland Executive to develop proposals.
    • The UK Government has increased funding to £37.8 million for the Police Service of Northern Ireland’s Additional Security Fund and confirmed £8 million for the Executive Programme on Paramilitarism and Organised Crime to ensure that people and communities are kept safe from violence and harm.
    • To support community cohesion the UK Government is providing £730,000 of additional funding in 2025-26 to support schools in Northern Ireland through the transformation process as they work towards integrated status.
    • Under-served parts of Northern Ireland will benefit from the rollout of digital infrastructure enabled by over £500 million of UK-wide investment in Project Gigabit and the Shared Rural Network.
    • A corporate tax roadmap will provide businesses with the stability and certainty they need to make long-term investment decisions and support our growth mission. It confirms our competitive offer, with the lowest Corporate Tax rate in the G7 and generous support for investment and innovation.
    • The UK Government will also proceed with implementing the 45%/40% rates of the theatre, orchestra, museum and galleries tax relief from 1 April 2025 to provide certainty to businesses in Northern Ireland’s thriving cultural sector.

    Repairing public finances

    The Chancellor has made clear that, whilst protecting working people with measures to reduce the cost of living, there would be difficult decisions required. The Budget will ask businesses and the wealthiest to pay their fair share while making taxes fairer. This will go directly towards fixing the foundations of the UK economy.

    • The rate of Employers’ National Insurance will increase by 1.2 percentage points, to 15%. The Secondary Threshold – the level at which employers start paying national insurance on each employee’s salary – will reduce from £9,100 per year to £5,000 per year.
    • The smallest businesses will be protected as the Employment Allowance will increase to £10,500 from £5,000, allowing firms in Northern Ireland to employ four National Living Wage workers full time without paying national insurance on their wages.
    • Capital Gains Tax will increase from 10% to 18% for those paying the lower rate, and 20% to 24% for those paying the higher rate.
    • To encourage entrepreneurs to invest in their businesses Business Asset Disposal Relief (BADR) will remain at 10% this year, before rising to 14% on 6 April 2025 and 18% from 6 April 2026-27.
    • The lifetime limit of BADR will be maintained at £1 million. The lifetime limit of Investors’ Relief will be reduced from £10 million to £1 million.
    • The OBR say changes to CGT will raise over £2.5 billion a year and the UK will continue to have the lowest CGT rate of any European G7 country.
    • Inheritance Tax thresholds will be fixed at their current levels for a further two years until April 2030. More than 90% of estates each year will be outside of its scope. From April 2027 inherited pensions will be subject to Inheritance Tax. This removes a distortion which has led to pensions being used as a tax planning vehicle to transfer wealth rather than their original purpose to fund retirement.
    • From April 2026, agricultural property relief and business property relief will be reformed. The highest rate of relief will continue at 100% for the first £1 million of combined business and agricultural assets, fully protecting the majority of businesses and farms. It will reduce to 50% after the first £1 million. Reforms will affect the wealthiest 2,000 estates each year. Inheritance Tax reforms in total are predicted by the OBR to raise £2 billion to support stability.

    The Budget also announced a package of measures that disincentivise activities that cause ill health, by:

    • Renewing the tobacco duty escalator which increases all tobacco duty rates by RPI+2% plus an above escalator increase to hand rolling tobacco (totalling RPI+12%).  
    • Introducing a new vaping duty at a flat rate of 22p/ml from October 2026, accompanied by a further one-off increase in tobacco duty to maintain financial incentive to choose vaping over smoking. 
    • To help tackle obesity and other harms caused by high sugar intake, the Soft Drinks Industry Levy will increase to account for inflation since it was last updated in 2018, and the duty will rise in line with inflation every year going forward.
    • The UK Government will also uprate alcohol duty in line with RPI on 1 February 2025, except for most drinks in pubs

    The UK Government has set out the next steps to deliver its tax manifesto commitments in the July Statement. Having consulted on the final policy details where appropriate, this Budget delivers the UK Government’s manifesto commitments to raise revenue to pay for First Steps, with reforms that are underpinned by fairness, and tackle tax avoidance by:  

    • A new residence-based regime will replace the current non-dom regime from April 2025 and will be designed to attract investment and talent to the UK.
    • Offshore trusts will no longer be able to be used to shelter assets from Inheritance Tax, and there will be transitional arrangement in place for people who have made plans based on current rules.
    • The planned 50% reduction for foreign income in the first year of the new regime will be removed.
    • Reforms to the non-dom regime will raise a total of £12.7 billion according to the OBR.
    • The tax treatment of carried interest will be reformed by first increasing the Capital Gains Tax rates on carried interest to 32% and then, from April 2026, moving to a revised regime – with bespoke rules to reflect the characteristics of the reward.

    • The Higher Rate for Additional Dwellings surcharge of Stamp Duty Land Tax will rise from 3 to 5%, providing those looking to move home, or purchase their first property, with a comparative advantage over second home buyers, landlords, and businesses purchasing residential property.

    • The UK Government will also introduce 20% VAT on education and boarding services provided for a charge by private schools from 1 January 2025.

    The Chancellor also doubled down on fiscal responsibility through two new fiscal rules that put the public finances on a sustainable path and prioritise investment to support long-term growth, and new principles of stability. Spending Reviews will be held every two years, setting plans for at least three years to ensure public services are always planned and improve value for money. 

    One major fiscal event per year will give families and businesses stability and certainty on tax and spending changes, while giving the Northern Ireland Executive greater clarity for in its own budget-setting.  A Fiscal Lock will also ensure no future government can sideline the OBR again.

    Updates to this page

    Published 30 October 2024

    MIL OSI United Kingdom

  • MIL-OSI USA: ICYMI: Biden-Harris Administration Announces Selections for Nearly $3 Billion of Investments in Clean Ports as Part of Investing in America Agenda

    Source: US State of New Jersey

    EPA’s Clean Ports Program to fund 55 zero-emission port equipment, infrastructure, and planning projects across the nation to tackle climate change, reduce air pollution, promote good jobs, and advance environmental justice

    WASHINGTON – Tuesday, as part of President Biden and Vice President Harris’ Investing in America agenda, the U.S. Environmental Protection Agency announced the selection of 55 applicants across 27 states and territories to receive nearly $3 billion through EPA’s Clean Ports Program. These grants will support the deployment of zero-emission equipment, as well as infrastructure and climate and air quality planning projects at ports across the country. The grants are funded by President Biden’s Inflation Reduction Act — the largest investment in combating climate change and promoting clean energy in history— and will advance environmental justice by reducing diesel air pollution in U.S. ports and surrounding communities while promoting good-paying and union jobs that help America’s ports thrive.

    Ports are vital to the U.S. economy and are responsible for moving goods and people throughout the country. At the same time, the port and freight equipment responsible for moving goods including trucks, locomotives, marine vessels, and cargo-handling equipment contribute to significant levels of diesel air pollution at and near port facilities. This pollution is especially harmful to nearby communities’ health and contributes to climate change. The funds announced Tuesday will improve air quality at ports across the country by installing clean, zero-emission freight and ferry technologies along with associated infrastructure, eliminating more than 3 million metric tons of carbon pollution, equivalent to 391,220 homes’ energy use for one year.

    “Our nation’s ports are critical to creating opportunity here in America, offering good-paying jobs, moving goods, and powering our economy,” said EPA Administrator Michael S. Regan. “Today’s historic $3 billion investment builds on President Biden’s vision of growing our economy while ensuring America leads in globally competitive solutions of the future. Delivering cleaner technologies and resources to U.S. ports will slash harmful air and climate pollution while protecting people who work in and live nearby ports communities.”

    “President Biden and Vice President Harris entered office with a vision to rebuild our nation’s infrastructure and tackle the climate crisis in a way that would create good-paying and union jobs and uplift the communities who’ve borne the brunt of pollution,” said John Podesta, Senior Advisor to the President for International Climate Policy. “The EPA Clean Ports program is one of the best examples of their vision come to life.”

    “Decarbonizing our nation’s ports is one of the many ways President Biden and Vice President Harris’s investment agenda is helping cut pollution and create good-paying union jobs,” said White House National Climate Advisor Ali Zaidi. “The communities being uplifted by these grants provide proof points for how good environmental policy can be good economic policy. By advancing clean energy solutions in every sector of our growing economy, the Biden-Harris administration continues to position our nation to lead the global clean energy race, while protecting all communities — especially those on the front-line and the fence-line — from harmful pollution in the air we breathe and the water we drink.”

    “The Port of Baltimore is a vital economic engine for the state and a leader among the nation’s ports. As we work to improve the Port, it is essential that we build for the future. The projects supported by the Clean Ports Program will help reduce emissions, improve air quality in the Baltimore region and create more clean energy jobs,” said Senator Ben Cardin (MD). “The Biden-Harris administration’s bold investments in modernizing our infrastructure are driving our economy forward while enabling us to take on climate change in a meaningful way.”

     “The tremendous projects selected for these federal funding awards will improve air quality and combat climate change by dramatically diminishing the Port of Baltimore’s greenhouse gas and toxic pollutant emissions via installation of zero-emission cargo handling equipment and trucks, while also bolstering the Maryland Port Administration’s overall emissions reduction strategy. These extraordinary federal investments into our Port are consistent with our collective duty to preserve the planet – while also continuing to uplift the Port of Baltimore’s workforce and surrounding communities in the transition to a zero-emissions facility,” said Congressman Kweisi Mfume (MD-07). “As exemplified by this compelling announcement, the historic Inflation Reduction Act continues to tackle the climate crisis with fierce urgency right here in Baltimore.” 

    In February 2024, EPA announced two separate funding opportunities for U.S. ports – a Zero-Emission Technology Deployment Competition to directly fund zero-emission equipment and infrastructure to reduce mobile source emissions and a Climate and Air Quality Planning Competition to fund climate and air quality planning activities. The competitions closed in May 2024 with over $8 billion in requests from applicants across the country seeking to advance next-generation, clean technologies at U.S. ports.

    After a thorough and rigorous grant application review process, EPA selected 55 applications to receive this historic investment. Applications to the Clean Ports Program were evaluated in part on their workforce development efforts, to ensure that projects will expand access to high-quality jobs. Grant selections also align with the Administration’s national goal for a zero-emission freight sector, the National Blueprint for Transportation Decarbonization, and the ‘all-of government’ National Zero-Emission Freight Corridor Strategy.

    Selected projects cover a wide range of human-operated and human-maintained equipment used at and around ports, with funds supporting the purchase of zero-emission equipment, including over 1,500 units of cargo handling equipment, 1,000 drayage trucks, 10 locomotives, and 20 vessels, as well as shore power systems, battery-electric and hydrogen vehicle charging and fueling infrastructure, and solar power generation.

    Initial estimates of tailpipe reductions from this new equipment are estimated to be over 3 million metric tons of CO2, 12 thousand short tons of NOx, and 200 short tons of PM2.5 in the first 10 years of operation.  These estimates are based on initial counts of proposed zero-emission equipment and shore power installations and do not consider benefits from retiring older vehicles, among other factors. These simplified estimates were prepared using national default emissions and activity factors and will be refined over time with more detailed information from selectees.

    Selected Zero-Emission Technology Deployment project examples include:

    The Port Authority of New York and New Jersey (PANYNJ) has been selected to receive an anticipated $344,138,135 to work with 5 collaborating partners to implement their proposed project, Catalyzing Change: Zero-Emissions NY-NJ Port Projects for a Greener Future. The proposed project includes the deployment of electric cargo handling equipment and drayage trucks with supporting charging infrastructure, including through a ZE Equipment for Ports (ZEEP) Voucher Incentive Program and Green Drayage Accelerator (GDA) program. PANYNJ commits to reducing the number of polluting vehicles at the port by scrapping a portion of the existing fleet. The project also includes the installation of vessel shore power infrastructure. As part of this project, PANYNJ will implement a comprehensive community engagement plan and train workers to operate and maintain new equipment and infrastructure.

    The Detroit/Wayne County Port Authority has been selected to receive an anticipated $21,905,782 to initiate the transition to a zero-emission future for the Port of Detroit in Michigan. The proposed project includes the acquisition and deployment of battery-electric cargo handling equipment, vessels, railcar movers, charging equipment, and solar arrays to support the electricity needs of the new equipment. The project also includes the scrappage of diesel cargo handling equipment, a vessel, and a railcar mover to reduce air pollution at the port and in the surrounding area. As part of this project, the applicant plans to develop a stakeholder engagement plan to facilitate community engagement and a guidebook for workforce development. 

    The Georgia Ports Authority (GPA) has been selected to receive an anticipated $48,763,746 to upgrade the Port of Savannah and the Port of Brunswick with vessel shore power systems. These systems will allow ships to ‘plug-in’ to electric grid power and turn off auxiliary diesel engines while at port. In addition, the project includes the scrappage and replacement of diesel terminal tractors with new electric terminal tractors and the installation of electric charging infrastructure. GPA plans to engage with communities through their community advisory network and conduct classroom and on the job training for workers related to shore power, zero-emission vehicles, and charging stations.

    The Philadelphia Regional Port Authority has been selected to receive an anticipated $77,650,965 to deploy zero-emission port equipment across the Port of Philadelphia’s (PhilaPort) operations in Pennsylvania. The equipment slated for purchase under this project includes zero-emissions (ZE) cargo handling equipment and associated charging infrastructure. The project also includes the scrappage of a portion of the existing diesel fleet to reduce air pollution at the port and in the surrounding area. In addition to the deployment of zero-emission technology, the Philadelphia Regional Port Authority plans to conduct community engagement and workforce development through this project.

    The Port Department of the City of Oakland has been selected to receive an anticipated $322,167,584 to purchase and deploy zero-emission technology at the Port of Oakland in California. Project activities include the deployment of electric and hydrogen cargo handling equipment, drayage trucks, charging infrastructure, and a battery energy storage system, and the scrappage of a portion of the existing diesel fleet. The project includes community engagement activities, workforce training on zero-emission equipment, and efforts to expand access to high-quality jobs in near-port communities.

    Selected Climate and Air Quality Planning project examples include:

    The Port of Houston Authority in Texas, which has been selected to receive an anticipated $2,983,457 grant for the Port Houston’s PORT SHIFT (Ports Optimizing Resilient Transportation through Sustainable, Human, Innovative, and Forward-looking Technology), a comprehensive program designed to accelerate the introduction of zero-emissions technology into the Houston Port ecosystem. The project includes nine tasks: 1) greenhouse gas emissions inventory; 2) truck route analysis; 3) infrastructure cost assessment; 4) climate action plan; 5) performance measurement framework; 6) advisory council and community engagement forum; 7) trucking industry collaborative; 8) workforce planning and engagement; and 9) resiliency planning.

    The Puerto Rico Ports Authority has been selected to receive an anticipated $1,800,000 for planning activities including the development of a baseline air emissions inventory and two projected “business as usual” emissions inventories for 2030/2050, development of emissions reduction strategies, and stakeholder engagement. Reduction strategies will prioritize technologically and operationally feasible vehicles and equipment that can be integrated to reduce criteria, greenhouse gas, and toxic air emissions. The project also includes development of a resiliency plan to protect infrastructure from climate related vulnerabilities, such as hurricanes.

    The Northwest Seaport Alliance (NWSA) has been selected to receive an anticipated $3,000,000 to conduct planning for a breakbulk cargo terminal at the Port of Tacoma in Washington. Expected activities include completing a baseline emissions inventory and feasibility analysis of ZE technology to inform the development of a plan to transition 40 pieces of CHE and light-duty vehicles to zero-emissions, and engineering and design for shore power. A workforce development and climate resilience needs assessment will be prepared as part of the planning process. Meaningful community is already a standard practice at NWSA, and the project is informed by community concerns.

    In addition to protecting human health and the environment, the program will protect and grow good-paying and union port jobs, create new good-paying and union jobs in the domestic clean energy sector, and enhance U.S. economic competitiveness through the innovation, installation, maintenance, and operation of zero-emissions equipment and infrastructure. The program’s historic investment in zero-emission port technology will also help promote and ensure the U.S. position as a global leader in clean technologies.

    EPA’s Clean Ports Program advances President Biden’s Justice40 Initiative, which aims to deliver 40% of the overall benefits of certain federal investments to disadvantaged communities that are marginalized by underinvestment and overburdened by pollution.  Disadvantaged communities will benefit from cleaner air and access to high quality jobs that will be created to operate zero emissions technologies at ports.

    EPA ensured that near-port community engagement and equity considerations were at the forefront of the Clean Ports Program’s design, including by evaluating applications on the extent and quality of their projects’ community engagement efforts. The program will also help to ensure that meaningful community engagement and emissions reduction planning become a part of port industry standard practices by building on the successes of EPA’s Ports Initiative and the Diesel Emissions Reduction Act programs. These programs have previously invested over $196 million to implement 207 diesel emissions reduction projects at ports with an additional $88 million to multi-sector projects that involve ports and have encouraged strong community-port collaboration.

    The agency anticipates making awards once all legal, statutory, and administrative requirements are satisfied. Selectees will work with EPA over the coming months to finalize project plans before receiving final awards and moving into the implementation phase. Project implementation will occur over the next three to four years depending on the scope of each project.

    To learn more about the Clean Ports Program tentatively selected applications, please visit the Clean Ports Program Selections webpage.

    MIL OSI USA News

  • MIL-OSI USA: $5 Million Investment to Expand Access to Behavioral Health Care in Primary Care Offices

    Source: US State of North Carolina

    Headline: $5 Million Investment to Expand Access to Behavioral Health Care in Primary Care Offices

    $5 Million Investment to Expand Access to Behavioral Health Care in Primary Care Offices
    hejones1

    The North Carolina Department of Health and Human Services announces $5 million to help providers build capacity and implement the Collaborative Care Model in primary care offices across the state. Through the Collaborative Care Model, primary care providers work with an integrated behavioral health case manager and a psychiatric consultant to monitor and treat patients for mild to moderate behavioral health conditions. The need for integrated medical and behavioral health care is greater than ever as rates of anxiety and depression have substantially increased following the COVID-19 pandemic.

    “Too many individuals with mental health and substance use disorders delay the care they need because they struggle finding a provider,” said NC Health and Human Services Secretary Kody H. Kinsley. “Collaborative Care can serve more people earlier by supporting primary care providers in reaching people at the onset of behavioral health symptoms.”

    Collaborative Care is covered by NC Medicaid, Medicare and most commercial insurance plans in North Carolina, helping to break down barriers that separate how physical and behavioral health services are delivered and paid for. Patients are able to receive services through a provider, and in a setting, they already know and trust, which gives them easier access to the care they need. Collaborative Care improves patient outcomes, reduces health care costs and reduces stigma related to mental health and substance use disorders.

    NCDHHS’ investment is designed to help with the startup costs of implementing Collaborative Care, particularly for primary care providers in rural or high-need areas that have limited access to behavioral health services. The department is partnering with Community Care of North Carolina (CCNC) to select eligible provider applications and distribute funding to approximately 100 providers across the state.

    As of Oct. 10, providers can apply for up to $50,000 per site to help with hiring and start up costs. Primary care practices are encouraged to apply and can find more information through CCNC’s dedicated Collaborative Care website. Efforts will be made to ensure primary care practices in western North Carolina impacted by Hurricane Helene will have an opportunity to apply for inclusion in the program, even if they are unable to apply for funds at this time.

    “The need is greater than ever before,” said Dr. Carrie Brown, Chief Psychiatrist for NCDHHS. “From 2019 to 2021, the percentage of Americans reporting symptoms of anxiety and depression nearly quadrupled, from 11% to 41%. The Collaborative Care partnership between primary care and psychiatrists is one example of the department’s efforts to increase access to behavioral health care for those who need it as we focus on whole-person health.”

    Nationally, the Collaborative Care Model is a strategic response to the shortage of mental health care professionals across the country. Recent data show more than 123 million people in the U.S. live in a Federally Designated Mental Health Professional shortage area, including one in four North Carolina counties. In North Carolina, a recent study finds there are 28 counties without a practicing psychiatrist, and it can take weeks or even months to get an appointment with a mental health provider. 

    With the Collaborative Care Model, a behavioral health care manager is embedded within a primary care office and, through consultation with a psychiatrist, helps the primary care physician implement evidence-based interventions for patients who screen positive for targeted behavioral health conditions. In this model, one psychiatrist can reach far more North Carolinians with mild to moderate behavioral health needs than they could directly provide care for through traditional behavioral health services.

    “Through this partnership with primary care professionals, we are working to create a more accessible mental healthcare system,” said Kelly Crosbie, MSW, LCSW, Director of the NCDHHS Division of Mental Health, Developmental Disabilities, and Substance Use Services. “This ensures our community receives the mental health care they need and deserve, in a setting where they are most comfortable.”

    The $5 million investment in capacity building is made possible by the NC General Assembly through the signing bonus North Carolina received from the federal government when it approved Medicaid Expansion. The investment builds on the department’s strategic work to enhance access to the Collaborative Care Model, which has already resulted in a nearly 100% increase in utilization among NC Medicaid primary care providers between April 2023 and May 2024.

    NC Medicaid, in coordination with key stakeholders, has led a statewide effort over the past two years to align requirements and reimbursement for Collaborative Care across payors, increase NC Medicaid reimbursement for behavioral health services to 120% of Medicare rates and remove copays for Medicaid beneficiaries. Additionally, NC Medicaid has provided training and technical assistance to support model implementation through Area Health Education Centers, connected interested primary care practices with psychiatric consultants, and created a customized Collaborative Care registry for providers through CCNC. These efforts are outlined in detail in a white paper published by NC Medicaid in December 2023.   

    NCDHHS’ investment in the Collaborative Care Model is part of a broader commitment to build an integrated behavioral health system in North Carolina. The NC General Assembly last year allocated a historic $835 million to strengthen the behavioral health system, and millions of North Carolinians are already benefiting from the sweeping, systemic improvements these funds are making for their health, well-being and day-to-day lives. More information is available in the NCDHHS Transforming North Carolina’s Behavioral Health System white paper.

    El Departamento de Salud y Servicios Humanos de Carolina del Norte anuncia $ 5 millones para ayudar a los proveedores a desarrollar capacidades e implementar el Modelo de Atención Colaborativa en las oficinas de atención médica primaria de todo el estado. A través del Modelo de Atención Colaborativa, los proveedores de atención médica primaria trabajan con un administrador de casos de salud conductual integrado y un consultor psiquiátrico para monitorear y tratar a los pacientes con condiciones de salud conductual de leves a moderadas. La necesidad de atención médica y de salud conductual integrada es mayor que nunca, ya que las tasas de ansiedad y depresión han aumentado sustancialmente después de la pandemia de COVID-19.

    “Demasiadas personas con trastornos de salud mental y uso de sustancias retrasan la atención que necesitan porque tienen dificultades para encontrar un proveedor”, dijo el secretario de Salud y Servicios Humanos de Carolina del Norte, Kody H. Kinsley. “La Atención Colaborativa puede servir a más personas antes, al ayudar a los proveedores de atención médica primaria a llegar a las personas al inicio de los síntomas de salud conductual”.

    La Atención Colaborativa está cubierta por NC Medicaid, Medicare y la mayoría de los planes de seguros comerciales en Carolina del Norte, lo que ayuda a derribar las barreras que separan la forma en que se prestan y pagan los servicios de salud física y conductual. Los pacientes pueden recibir servicios a través de un proveedor y en un entorno que ya conocen y en el que confían, lo que les brinda un acceso más fácil a la atención que necesitan. La Atención Colaborativa mejora los resultados de los pacientes, reduce los costos de atención médica y reduce el estigma relacionado con la salud mental y los trastornos por uso de sustancias.

    La inversión del Departamento de Salud y Servicios Humanos de Carolina del Norte (NCDHHS, por sus siglas en inglés) está diseñada para ayudar con los costos iniciales de la implementación de la Atención Colaborativa, particularmente para los proveedores de atención médica primaria en áreas rurales o de alta necesidad que tienen acceso limitado a los servicios de salud conductual. El departamento se está asociando con Atención Comunitaria de Carolina del Norte (Community Care of North Carolina, CCNC, por sus siglas en inglés) para seleccionar solicitudes de proveedores elegibles y distribuir fondos a aproximadamente 100 proveedores en todo el estado.

    A partir del 10 de octubre, los proveedores pueden solicitar hasta $50,000 por sitio para ayudar con los costos de contratación e iniciación. Se alienta a las prácticas de atención médica primaria a aplicar y encontrar más información a través del sitio web dedicado a la Atención Colaborativa de CCNC. Se harán esfuerzos para garantizar que las prácticas de atención médica primaria en el oeste de Carolina del Norte afectadas por el huracán Helene tengan la oportunidad de solicitar su inclusión en el programa, incluso si no pueden solicitar fondos en este momento.

    “La necesidad es mayor que nunca”, dijo la doctora Carrie Brown, directora psiquiatra del NCDHHS. “De 2019 a 2021, el porcentaje de estadounidenses que reportaron síntomas de ansiedad y depresión casi se cuadruplicó, del 11% al 41%. La asociación de Atención Colaborativa entre la atención médica primaria y los psiquiatras es un ejemplo de los esfuerzos del departamento para aumentar el acceso a la atención de salud conductual para quienes la necesitan, ya que nos centramos en la salud integral de la persona”.

    A nivel nacional, el Modelo de Atención Colaborativa es una respuesta estratégica a la escasez de profesionales de la salud mental en todo el país. Datos recientes muestran que más de 123 millones de personas en Estados Unidos viven en un área de escasez de profesionales de la salud mental designados por el gobierno federal, incluido uno de cada cuatro condados de Carolina del Norte. En Carolina del Norte, un estudio reciente encuentra que hay 28 condados sin un psiquiatra que ejerza, y puede tomar semanas o incluso meses obtener una cita con un proveedor de salud mental. 

    Con el Modelo de Atención Colaborativa, un administrador de atención de salud conductual está integrado en una oficina de atención médica primaria y, a través de la consulta con un psiquiatra, ayuda al médico de atención médica primaria a implementar intervenciones basadas en evidencia para pacientes que dan positivo para condiciones de salud conductual específicas. En este modelo, un psiquiatra puede llegar a muchos más habitantes de Carolina del Norte con necesidades de salud conductual de leves a moderadas de las que podrían atender directamente a través de los servicios tradicionales de salud conductual.

    “A través de esta asociación con profesionales de atención médica primaria, estamos trabajando para crear un sistema de salud mental más accesible”, dijo Kelly Crosbie, MSW, LCSW, directora de la División de Salud Mental, Discapacidades del Desarrollo y Servicios de Uso de Sustancias del NCDHHS. “Esto garantiza que nuestra comunidad reciba la atención de salud mental que necesita y merece, en un entorno más cómodo”.

    La inversión de $ 5 millones en el desarrollo de capacidades es posible gracias a la Asamblea General de Carolina del Norte a través del bono por contratación que Carolina del Norte recibió del gobierno federal cuando aprobó la Expansión de Medicaid. La inversión se basa en el trabajo estratégico del departamento para mejorar el acceso al Modelo de Atención Colaborativa, que ya ha resultado en un aumento de casi el 100% en la utilización entre los proveedores de atención médica primaria de Medicaid de Carolina del Norte entre abril de 2023 y mayo de 2024.

    NC Medicaid, en coordinación con las principales partes interesadas, ha liderado un esfuerzo estatal en los últimos dos años para alinear los requisitos y el reembolso de la Atención Colaborativa entre los contribuyentes, aumentar el reembolso de NC Medicaid por servicios de salud conductual al 120% de las tasas de Medicare y eliminar los copagos para los beneficiarios de Medicaid. Además, NC Medicaid ha brindado capacitación y asistencia técnica para apoyar la implementación del modelo a través de los Centros de Educación para la Salud del Área (Area Health Education Centers, AHEC, por sus siglas en inglés), ha conectado las prácticas de atención médica primaria interesadas con los consultores psiquiátricos y ha creado un registro personalizado de Atención Colaborativa para los proveedores a través de CCNC. Estos esfuerzos se describen en detalle en un libro blanco publicado por NC Medicaid en diciembre de 2023.   

    La inversión del NCDHHS en el Modelo de Atención Colaborativa es parte de un compromiso más amplio para construir un sistema integrado de salud conductual en Carolina del Norte. El año pasado, la Asamblea General de Carolina del Norte asignó $ 835 millones históricos para fortalecer el sistema de salud conductual, y millones de habitantes de Carolina del Norte ya se están beneficiando de las mejoras radicales y sistémicas que estos fondos están haciendo para su salud, bienestar y vida cotidiana. Para obtener más información, visite [$835 reporte]

    Oct 30, 2024

    MIL OSI USA News

  • MIL-OSI Security: Four Time Federal Felon Sentenced to More than 14 Years in Federal Prison for Meth Conviction

    Source: Office of United States Attorneys

    A man who fled from law enforcement while possessing methamphetamine was sentenced October 25, 2024, in federal court in Sioux City.

    Chad Hughes, 40, from Sioux City, Iowa, pled guilty on May 31, 2024, to possession of methamphetamine with intent to distribute.  Hughes was previously convicted of a federal firearms offense in 2005, federal assault in 2010, and two federal escapes in 2017 and 2018, respectively.

    At the plea and sentencing hearings evidence showed that Hughes possessed almost ½ pound of methamphetamine which he intended to distribute to others in Sioux City.  On June 24, 2023, when law enforcement attempted to stop the motorcycle Hughes was operating, he fled from law enforcement in a high-speed pursuit through cities of Sioux City, Iowa and North Sioux City, South Dakota.  During the pursuit Hughes ditched the motorcycle and a backpack to avoid apprehension.  Law enforcement seized the backpack which contained methamphetamine, drug paraphernalia, a BB gun, and other items which aided in the ultimate identification of Hughes. 

    Sentencing was held before United States District Court Judge Leonard T. Strand.  Hughes was sentenced to 170 months’ imprisonment and must serve a five-year term of supervised release following imprisonment.  There is no parole in the federal system.  Hughes remains in custody of the United States Marshal until he can be transported to a federal prison.

    The case was prosecuted by Assistant United States Attorney Shawn S. Wehde and was investigated by the Iowa State Patrol, North Sioux City, South Dakota, Police Department, and the Tri-State Drug Task Force based in Sioux City, Iowa, that consists of law enforcement personnel from the Drug Enforcement Administration; Sioux City, Iowa, Police Department; Homeland Security Investigations; Woodbury County Sheriff’s Office; South Sioux City, Nebraska, Police Department; Nebraska State Patrol; Iowa National Guard; Iowa Division of Narcotics Enforcement; United States Marshals Service; South Dakota Division of Criminal Investigation; and Woodbury County Attorney’s Office.    

    Court file information at https://ecf.iand.uscourts.gov/cgi-bin/login.pl.

    The case file number is 23-4053.  Follow us on X @USAO_NDIA.

    MIL Security OSI

  • MIL-OSI Security: Sioux City Woman to Federal Prison for Meth Conspiracy

    Source: Office of United States Attorneys

    Brandy Binneboese, 44, from Sioux City, Iowa was sentenced on October 25, 2024, after pleading guilty on June 7, 2024, in federal court in Sioux City, to conspiracy to distribute methamphetamine.  

    Evidence at the plea and sentencing hearings showed that from January 2021 through June 2023, Binneboese participated in a conspiracy that distributed over 7 pounds of methamphetamine.  Evidence further showed that on three occasions in 2023 Binneboese participated in the distribution of ¼ and ½ pounds of methamphetamine as observed by law enforcement using an individual cooperating with law enforcement.  On June 1, 2023, just after one of the meth transactions was completed, Binneboese was stopped by law enforcement and found with ½ ounce of methamphetamine and $2,500 in pre-serialized buy money that had been used for the drug purchase moments earlier.     

    Sentencing was held before United States District Court Judge Leonard T. Strand.  Binneboese was sentenced to 38 months’ imprisonment and must serve three years of supervised release following the imprisonment.  There is no parole in the federal system.  Binneboese remains in custody of the United States Marshal until she can be transported to a federal prison. 

    The case was prosecuted by Assistant United States Attorney Shawn S. Wehde and was investigated by the Tri-State Drug Task Force based in Sioux City, Iowa, that consists of law enforcement personnel from the Drug Enforcement Administration; Sioux City, Iowa, Police Department; Homeland Security Investigations; Woodbury County Sheriff’s Office; South Sioux City, Nebraska, Police Department; Nebraska State Patrol; Iowa National Guard; Iowa Division of Narcotics Enforcement; United States Marshals Service; South Dakota Division of Criminal Investigation; and Woodbury County Attorney’s Office.    

    Court file information at https://ecf.iand.uscourts.gov/cgi-bin/login.pl.

    The case file number is 23-4042.  Follow us on X @USAO_NDIA.

    MIL Security OSI

  • MIL-OSI Security: Two Members of Transnational Money Laundering Organization Plead Guilty to Laundering Millions of Dollars in Drug Proceeds

    Source: Office of United States Attorneys

    A Georgia man pleaded guilty today to his involvement in a conspiracy to launder tens of millions of dollars in drug proceeds on behalf of foreign drug trafficking organizations, including the Sinaloa Cartel and Cartel de Jalisco Nueva Generación (the Jalisco Cartel). Earlier this year, on Aug. 5, a foreign national residing in Illinois pleaded guilty for his role in the same money laundering scheme.

    According to court documents, Li Pei Tan, 46, of Buford, and Chaojie Chen, 41, a Chinese national residing in Chicago, worked for an organization that laundered millions of dollars in proceeds related to the importation of illegal drugs into the United States, primarily through Mexico, and the unlawful distribution of these drugs. Tan, Chen, and their co-conspirators traveled throughout the United States to collect proceeds derived from trafficking in fentanyl, cocaine, and other drugs. They communicated and coordinated with co-conspirators in China and other foreign countries to arrange for the laundering of these proceeds through financial transactions that were designed to conceal the illicit source of the drug proceeds, including through a sophisticated trade-based money laundering scheme involving the purchasing of bulk electronics in the United States and the shipping of these electronics to co-conspirators in China.

    On multiple occasions prior to Chen’s May arrest, law enforcement seized hundreds of thousands of dollars in bulk cash drug proceeds from Chen at locations across the United States. Additionally, Tan was intercepted by law enforcement in South Carolina while attempting to transport over $197,000 in drug proceeds.

    According to the Drug Enforcement Administration (DEA)’s National Drug Threat Assessment, the Sinaloa and Jalisco cartels are at the heart of the fentanyl crisis in the United States.

    Tan and Chen pleaded guilty to conspiracy to commit money laundering. As part of their pleas, Tan and Chen agreed to forfeit numerous assets to the government, including a residence, a firearm, body armor, and more than $270,000 in seized currency. Additionally, they agreed to the imposition of money judgments totaling over $23 million. Chen is scheduled to be sentenced on Nov. 14 and Tan is scheduled to be sentenced on Feb. 7, 2025. Chen and Tan each face a maximum penalty of 20 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Principal Deputy Assistant Attorney General Nicole M. Argentieri, head of the Justice Department’s Criminal Division; U.S. Attorney Jessica D. Aber for the Eastern District of Virginia; and DEA Administrator Anne Milgram made the announcement.

    The DEA’s Special Operations Division, Bilateral Investigations Unit is investigating the case, with assistance from the DEA’s Office of Special Intelligence, Document and Media Exploitation Unit; DEA offices in Chicago, Atlanta, Charlotte, North Carolina, and Charleston, South Carolina; and the Anderson County, South Carolina, Sheriff’s Office.

    Trial Attorney Mary K. Daly of the Criminal Division’s Money Laundering and Asset Recovery Section and Assistant U.S. Attorney Edgardo J. Rodriguez for the Eastern District of Virginia are prosecuting the case.

    MIL Security OSI

  • MIL-OSI Security: Atlantic County Doctor Sentenced to 15 Months in Prison for Health Care Fraud Conspiracy

    Source: Office of United States Attorneys

    CAMDEN, N.J. – An Atlantic County, New Jersey, doctor was sentenced to 15 months in prison for his role in defrauding New Jersey state and local health benefits programs and other insurers by submitting fraudulent claims for medically unnecessary prescriptions, Attorney for the United States Vikas Khanna announced.

    Brian Sokalsky, 46, of Margate, New Jersey, previously pleaded guilty before U.S. District Judge Robert B. Kugler to a superseding information charging him with one count of conspiring to commit health care fraud. U.S. District Judge Edward S. Kiel imposed the sentence on Oct. 29, 2024, in Camden federal court. 

     Sokalsky, pharmaceutical sales representative Vincent Tornari, 50, of Linwood, New Jersey, and former advanced nurse practitioner Ashley Lyons-Valenti, 67, of Swedesboro, New Jersey, were charged in a 33-count indictment in June 2020. Tornari pleaded guilty on March 14, 2023, and Lyons-Valenti pleaded guilty on Feb. 28, 2023, to their respective roles in the conspiracy. Tornari and Lyons-Valenti are both awaiting sentencing.

    According to court documents filed in this case and statements made in court:

    Compounded medications are specialty medications mixed by a pharmacist to meet the specific medical needs of an individual patient. Although compounded drugs are not approved by the Food and Drug Administration (FDA), they are properly prescribed when a physician determines that an FDA-approved medication does not meet the health needs of a particular patient, such as if a patient is allergic to a dye or other ingredient.

    The conspirators learned that certain medications made by compounding pharmacies reimbursed for up to thousands of dollars for an individual’s one-month supply. They learned that certain insurance plans – including insurance plans for state and local government employees and certain other insurance plans – covered these medications.

    Sokalsky agreed to authorize prescriptions for former pharmaceutical sales representative Matthew Tedesco, 49, of Linwood, New Jersey, who pleaded guilty to health care fraud conspiracy in June 2017, and others working with Tedesco. In exchange for authorizing those prescriptions, Tedesco referred approximately 30 patients to Sokalsky’s new medical practice.  Sokalsky, in turn, billed insurance for patient visits for those people steered to his practice by Tedesco. Sokalsky also authorized prescriptions for the medications for existing patients of his practice, which he did to financially benefit Tedesco and encourage him to refer more patients to his new practice. Sokalsky authorized medically unnecessary medications, including libido creams for young females and excessive quantities of the medications with the maximum number of refills selected. When insurance stopped covering certain formulations of the medications, Tedesco informed Sokalsky that he needed to authorize new prescriptions.  Sokalsky did so, often without seeing the individual for a follow-up visit or informing the person of the change in medication. In total, insurance paid more than $5 million for fraudulent prescriptions authorized by Sokalsky.

    In addition to the prison term, Judge Kiel sentenced Sokalsky to three years of supervised release and ordered restitution of $5.13 million.

    Attorney for the United States Khanna credited agents of the FBI’s Atlantic City Resident Agency, under the direction of Acting Special Agent in Charge Nelson I. Delgado in Newark; special agents of IRS – Criminal Investigation, under the direction of Special Agent in Charge Jenifer L. Piovesan in Newark; and the U.S. Department of Labor Office of Inspector General, New York Region, under the direction of Special Agent in Charge Jonathan Mellone, with the investigation leading to the sentencing.

    The government is represented by R. David Walk Jr., Deputy Chief of the Criminal Division; and Assistant U.S. Attorney Daniel A. Friedman of the Camden office.

    MIL Security OSI

  • MIL-OSI United Kingdom: A Budget to fix the foundations and deliver change for Scotland

    Source: United Kingdom – Government Statements

    Chancellor takes long-term decisions to restore stability, rebuild Britain and protect working people across Scotland.

    • No change to working people’s payslips as employee national insurance and VAT stay the same, but businesses and the wealthiest asked to pay their fair share.
    • Record £47.7 billion for the Scottish Government in 2025/26 includes £3.4 billion through the Barnett formula.
    • Funding for Green Freeports, City and Growth Deals, GB Energy and hydrogen projects to fire up growth and deliver good jobs across Scotland.

    The Chancellor has delivered a Budget to fix the foundations to deliver on the promise of change after a decade and a half of stagnation. She set out plans to rebuild Britain, while ensuring working people across Scotland don’t face higher taxes in their payslips.

    The UK Government was handed a challenging inheritance; £22 billion of unfunded in-year spending pressures, debt at its highest since the 1960s, an unrealistic forecast for departmental spending, and stagnating living standards.

    This Budget takes difficult decisions to restore economic and fiscal stability, so that the UK Government can invest in Scotland’s future and lay the foundations for economic growth across the UK as its number one mission.

    The Chancellor announced that the Scottish Government will be provided with a £47.7 billion settlement in 2025/26 – the largest in real terms in the history of devolution. This includes a £3.4 billion top-up through the Barnett formula, with £2.8 billion for day-to-day spending and £610 million for capital investment.

    Secretary of State for Scotland Ian Murray said:

    This is a historic budget for Scotland that chooses investment over decline and delivers on the promise that there would be no return to austerity.

    It is the largest budget settlement for the Scottish Government in the history of devolution, including an additional £1.5 billion this financial year and an additional £3.4 billion next year through the Barnett formula. That money must reach frontline services, to bring down NHS waiting lists and lift attainment in our schools.

    It will also bring a new era of growth for Scotland and the whole UK, confirming nearly £890 million of direct investment into Freeports, Investment Zones, the Argyll and Bute Growth Deal, and other important local projects across Scotland’s communities, as well as £125 million next year for GB Energy and support for green hydrogen projects in Cromarty and Whitelee.

    The increase in the minimum wage will also mean a pay rise for hundreds of thousands of workers in Scotland, with the biggest increase for young workers ever. This is on top of our employment rights bill which will deliver the biggest upgrade in workers’ rights in a generation. The triple lock means an increase in the state pension by £470 next year, on top of £900 this year for a million Scottish pensioners.

    The budget protects working people in Scotland, delivers more money than ever before for Scottish public services and means an end to the era of austerity.

    Protecting working people and living standards

    While fixing the inheritance requires tough decisions, the Chancellor has committed to protecting the living standards of working people. The decisions taken by the Chancellor to rebuild public finances enable the UK Government to deliver on its pledge to not increase National Insurance or VAT on working people in Scotland, meaning they will not see higher taxes in their payslip.

    • The National Living Wage will increase from £11.44 to £12.21 an hour from April 2025. The 6.7% increase – worth £1,400 a year for a full-time worker – is a significant move towards delivering a genuine living wage.
    • The National Minimum Wage for 18 to 20-year-olds will also see a record rise from £8.60 to £10 an hour.
    • Working people will benefit from these increases, with there estimated to be over 100,000 minimum wage workers in Scotland in 2023.
    • The Chancellor has made the decision to protect working people in Scotland from being dragged into higher tax brackets by confirming that the freeze on National Insurance Contributions thresholds will be lifted from 2028-29 onwards, rising in line with inflation so they can keep more of their hard-earned wages.
    • The Chancellor is also protecting motorists by freezing fuel duty for one year – a tax cut worth £3 billion, with the temporary 5p cut extended to 22 March 2026. This will benefit an estimated 3.2 million people in Scotland, saving the average car driver £59, vans £126 and Heavy Goods Vehicles £1,079 next year.
    • To support Scottish pubs and smaller brewers in Scotland, the UK Government is cutting duty on qualifying draught products by 1p, which represent approximately 3 in 5 alcoholic drinks sold in pubs. This measure reduces duty bills by over £70 million a year, cutting duty on an average strength pint in a pub by a penny. The relief available to small producers will be updated to help smaller brewers and cidermakers.  
    • Over 1 million Scottish pensioners will benefit from a 4.1% increase to their new or basic State Pension in April 2025. This is an additional £470 a year for those on the new State Pension and an additional £360 a year for those on the basic State Pension.
    • Households eligible for Pension Credit will get £465 a year more for single pensioners and up to £710 a year more for couples due to a 4.1% increase in the Pension Credit Standard Minimum Guarantee, benefitting 125,000 pensioners in Scotland.
    • Around 1.7 million families in Scotland will see their working-age benefits uprated in line with inflation – a £150 gain on average in 2025-26.
    • Reducing the maximum level of debt repayments that can be deducted from a household’s Universal Credit payment each month from 25% to 15% will benefit a Scottish family by over £420 a year on average.

    Rebuilding Britain

    This UK Government will not make a return to austerity and will instead boost investment to rebuild Britain and lay the foundations for growth in Scotland. This includes £130 million of targeted funding for the Scottish Government, of which £120 million is in capital investment.

    • The Budget delivers on the first step to establish Great British Energy by providing £125 million next year to set up the institution at its new home in Aberdeen – helping to develop new clean energy projects in Scotland and across the UK. 
    • The UK Government will deliver £122 million for City and Growth Deals, including the continuation of its contribution to the Argyll and Bute Growth Deal which delivers £25 million of investment in the region over 10 years. This Deal will be supported by a rigorous value for money assessment as part of the review of the business cases for projects within it, to ensure best value is being delivered.
    • The Budget gives certainty to local leaders and investors, confirming funding for the Investment Zones and Freeports programmes across the UK – including Scotland’s Green Freeports. 
    • The Chancellor committed the UK Government to working closely with the Scottish Government on the Industrial Strategy, 10-year infrastructure strategy and the National Wealth Fund – to ensure the benefits of these are felt UK-wide and as part of the relationship reset between governments. These will mobilise billions of pounds of investment in the UK’s world-leading clean energy and growth industries.
    • To support economic growth and promote Scottish culture, products and services through diplomatic and trade networks, the UK Government is allocating £750,000 for the Scotland Office in 2025/26 to champion Brand Scotland as was committed in the manifesto.
    • We are supporting Scotland’s world-renowned Scotch Whisky industry by providing up to £5 million for HMRC to reduce the fees charged by the Spirit Drinks Verification Scheme and by ending mandatory duty stamps for spirits on 1 May 2025.
    • Two electrolytic hydrogen projects in Scotland have been selected for UK Government revenue support through the first Hydrogen Allocation Round: Cromarty Green Hydrogen Project and Whitelee Green Hydrogen. Both projects will bring in significant international investment and create good quality, local jobs.
    • An extension of the Innovation Accelerators programme will support the high-potential innovation cluster in the Glasgow City Region.
    • A corporate tax roadmap will provide businesses with the stability and certainty they need to make long-term investment decisions and support our growth mission. It confirms our competitive offer, with the lowest Corporate Tax rate in the G7 and generous support for investment and innovation. 
    • The UK Government will also proceed with implementing the 45%/40% rates of the theatre, orchestra, museum and galleries tax relief from 1 April 2025 to provide certainty to businesses in Scotland’s thriving cultural sector.

    Repairing public finances

    The Chancellor has made clear that, whilst protecting working people with measures to reduce the cost of living, there would be difficult decisions required. The Budget will ask businesses and the wealthiest to pay their fair share while making taxes fairer. This will go directly towards fixing the foundations of the UK economy.

    • The rate of Employers’ National Insurance will increase by 1.2 percentage points, to 15%. The Secondary Threshold – the level at which employers start paying national insurance on each employee’s salary – will reduce from £9,100 per year to £5,000 per year.
    • The smallest businesses will be protected as the Employment Allowance will increase to £10,500 from £5,000, allowing Scottish firms to employ four National Living Wage workers full time without paying employer national insurance on their wages.
    • Capital Gains Tax will increase from 10% to 18% for those paying the lower rate, and 20% to 24% for those paying the higher rate.
    • To encourage entrepreneurs to invest in their businesses Business Asset Disposal Relief (BADR) will remain at 10% this year, before rising to 14% on 6 April 2025 and 18% from 6 April 2026-27.
    • The lifetime limit of BADR will be maintained at £1 million. The lifetime limit of Investors’ Relief will be reduced from £10 million to £1 million.
    • The OBR say changes to CGT raise over £2.5 billion a year and the UK will continue to have the lowest CGT rate of any European G7 country.
    • Inheritance Tax thresholds will be fixed at their current levels for a further two years until April 2030. More than 90% of estates each year will be outside of its scope. From April 2027 inherited pensions will be subject to Inheritance Tax. This removes a distortion which has led to pensions being used as a tax planning vehicle to transfer wealth rather than their original purpose to fund retirement.
    • From April 2026, agricultural property relief and business property relief will be reformed. The highest rate of relief will continue at 100% for the first £1 million of combined business and agricultural assets, fully protecting the majority of businesses and farms. It will reduce to 50% after the first £1 million. Reforms will affect the wealthiest 2,000 estates each year. Inheritance Tax reforms in total are predicted by the OBR to raise £2 billion to support stability.

    • From 2026-27 Air Passenger Duty (APD) for short and long-haul flights will increase by 13% to the nearest pound, a partial adjustment to account for previous high inflation. For economy passengers, this means a maximum £2 extra per short haul flight and tickets for children under the age of 16 remain exempt from APD. APD for larger private jets will be increased by a further 50%. Passengers carried on flights leaving from airports in the Scottish Highlands and Islands region are exempt from APD.
    • The rate of the Energy Profits Levy will increase to 38% from 1 November 2024 and the levy will now expire one year later than planned, on 31 March 2030.  The 29% investment allowance will be removed.
    • To provide long-term certainty and to support a stable energy transition, the UK Government will make no additional changes to tax relief available within the EPL and a consultation will be published in early 2025 on a successor regime that can respond to price shocks. Money raised from changes to the EPL will support the transition to clean energy, enhance energy security and provide sustainable jobs for the future.

    The Budget also announced a package of measures that disincentivise activities that cause ill health, by:

    •  Renewing the tobacco duty escalator which increases all tobacco duty rates by RPI+2% plus an above escalator increase to hand rolling tobacco (totalling RPI+12%).  
    • Introducing a new vaping duty at a flat rate of 22p/ml from October 2026, accompanied by a further one-off increase in tobacco duty to maintain financial incentive to choose vaping over smoking. 
    • To help tackle obesity and other harms caused by high sugar intake, the Soft Drinks Industry Levy will increase to account for inflation since it was last updated in 2018, and the duty will rise in line with inflation every year going forward.
    • The UK Government will also uprate alcohol duty in line with RPI on 1 February 2025, except for most drinks in pubs.

    The UK Government has set out the next steps to deliver its tax manifesto commitments in the July Statement. Having consulted on the final policy details where appropriate, this Budget delivers the UK Government’s manifesto commitments to raise revenue to pay for First Steps, with reforms that are underpinned by fairness, and tackle tax avoidance by:  

    • A new residence-based regime will replace the current non-dom regime from April 2025 and will be designed to attract investment and talent to the UK.
    • Offshore trusts will no longer be able to be used to shelter assets from Inheritance Tax, and there will be transitional arrangement in place for people who have made plans based on current rules.
    • The planned 50% reduction for foreign income in the first year of the new regime will be removed.
    • Reforms to the non-dom regime will raise a total of £12.7 billion according to the OBR.
    • The tax treatment of carried interest will be reformed by first increasing the Capital Gains Tax rates on carried interest to 32% and then, from April 2026, moving to a revised regime – with bespoke rules to reflect the characteristics of the reward.

    The Chancellor also doubled down on fiscal responsibility through two new fiscal rules that put the public finances on a sustainable path and prioritise investment to support long-term growth, and new principles of stability. Spending Reviews will be held every two years, setting plans for at least three years to ensure public services are always planned and improve value for money.

    One major fiscal event per year will give families and businesses stability and certainty on tax and spending changes, while giving the Scottish Government greater clarity for in its own budget-setting.  A Fiscal Lock will also ensure no future government can sideline the OBR again.

    Updates to this page

    Published 30 October 2024

    MIL OSI United Kingdom

  • MIL-OSI Europe: ESAs publish 2024 Joint Report on principal adverse impacts disclosures under the Sustainable Finance Disclosure Regulation

    Source: European Banking Authority

    The European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) have published their third annual Report on disclosures of principal adverse impacts under the Sustainable Finance Disclosure Regulation (SFDR).

    The Report assesses both entity and product-level Principal Adverse Impact (PAI) disclosures under the SFDR. These disclosures aim at showing the negative impact of financial institutions’ investments on the environment and people and the actions taken by asset managers, insurers, investment firms, banks and pension funds to mitigate them.

    The findings show that financial institutions have improved the accessibility of their PAI disclosures. There has also been positive progress regarding the quality of the information disclosed by financial products, and, in general, in the quality of the PAI statements. A few National Competent Authorities (NCAs) also reported slight improvements in the compliance with the SFDR disclosures in their national markets.

    Looking forward, the Report includes recommendations to NCAs to ensure convergent supervision of financial market participants’ practices, and to the European Commission for their comprehensive assessment on the SFDR.

    The ESAs have also developed an overview of good practices related to the location, clarity, complexity of the disclosures based on a survey of NCAs.

    MIL OSI Europe News

  • MIL-OSI Security: Gleichen — Alberta RCMP member charged after investigation

    Source: Royal Canadian Mounted Police

    In October of 2023, the Alberta RCMP’s Southern Alberta District General Investigation Section began an investigation into the on-duty conduct of an RCMP member.

    As a result of the investigation, Cst. Anthony Jacobs (40) of the Gleichen RCMP has been charged with:

    • One count of Perjury; and
    • One count of Breach of Trust.

    Jacobs is suspended with pay, and has now been released on an Undertaking. His next court appearance is scheduled for Dec. 12, 2024, at the Siksika Nation Court of Justice.

    Jacobs has been with the RCMP for 9 years.

    MIL Security OSI

  • MIL-OSI Security: FBI Dallas Unveils Public Service Announcements in Different Languages to Increase Hate Crime Reporting

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

    DALLAS, TX—The FBI Dallas Division developed a series of videos in five different languages to urge the community to report hates crimes to the FBI. The languages represented in the videos are English, Spanish, Korean, Chinese, and Urdu. The goal is to reach people throughout the Dallas Division’s territory where English is not the first language.

    Hate crimes are the highest priority of the FBI’s civil rights program because of the devastating impact they have on families and communities. The FBI defines a hate crime as a criminal offense against a person or property motivated in whole or in part by an offender’s bias against a race, religion, disability, sexual orientation, ethnicity, gender, or gender identity.

    The FBI is the lead investigative agency for criminal violations of federal civil rights statutes and works closely with local, state, tribal, and other federal law enforcement partners in many of these cases, even when federal charges are not pursued.

    “The FBI is committed to increasing awareness of how to report hate crimes. It is important for the communities we serve to understand this message. This is why we decided to translate our call to action into multiple languages,” said P.J. O’Brien, acting special agent in charge of the FBI Dallas Division. “We want to reassure the public that the FBI will hold people accountable for committing these serious crimes.”

    The FBI protects all victims of crimes, regardless of their country of national origin or immigration status. If you believe you are a victim or a witness of a hate crime, you are encouraged to report it to the FBI by calling 1-800-CALL-FBI or submitting an online tip at tips.fbi.gov. You may remain anonymous, and reports can be made in an individual’s preferred language.

    Hate Crime Video Links

    MIL Security OSI

  • MIL-OSI Economics: Identity fraud: BaFin warns consumers against offers on websites waystone-im.de and wim-finanzberatung.de

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    Federal Financial Supervisory Authority BaFin warns against alleged fixed-term deposit offers on the websites waystone-im.de (previously: waystone-im.com) and wim-finanzberatung.de. The services are not actually being offered by Waystone Investment Management (IE) Limited, German Branch. This is a case of identity fraud by unknown perpetrators. Contrary to the information on the website, BaFin does not supervise alleged Waystone Investments.

    Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether companies have been authorised by BaFin can be found in BaFin’s database of companies.

    Theinformation provided by BaFin is based on section 37 (4) of the German Banking Act (KreditwesengesetzKWG).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (BundeskriminalamtBKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Economics

  • MIL-OSI Russia: Financial news: The first all-Russian competition “Capital of Financial Culture” starts on October 29

    Translation. Region: Russian Federation –

    Source: Central Bank of Russia –

    Target competition— support the best regional initiatives aimed at improving financial literacy and forming people’s financial culture. Organizers: the Bank of Russia and the Ministry of Finance of Russia.

    Applications from regions for participation are accepted until November 18. The best will reach the final.

    In the final, the regions’ projects will be reviewed by a jury headed by the Chairman of the Bank of Russia Elvira Nabiullina and the Minister of Finance of Russia Anton Siluanov.

    It will also include representatives of the Ministry of Education of the Russian Federation, the Federal Agency for Youth Affairs, the State Duma and the Federation Council, professional associations of market participants, public and scientific organizations.

    The winning region will receive information, expert and methodological support for its future projects. In addition, which is no less important, it will become a platform for various forums and conferences on the exchange of experience and the popularization of financial culture in the country.

    In the future, the competition will be held annually until 2030. The status of “Capital of Financial Culture” is assigned to the administrative center of a constituent entity of the Russian Federation for one year.

    Preview photo: Adriaticfoto / Shutterstock / Fotodom

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

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

    http://vvv.kbr.ru/press/event/?id=21116

    MIL OSI Russia News

  • MIL-OSI: Premium Income Corporation Announces Overnight Offering of Preferred Shares

    Source: GlobeNewswire (MIL-OSI)

    Not for distribution to U.S. newswire services or for dissemination in the United States.

    TORONTO, Oct. 29, 2024 (GLOBE NEWSWIRE) — (TSX: PIC.PR.A) – Premium Income Corporation (the “Fund”) is pleased to announce that it is undertaking an overnight treasury offering of Preferred Shares (the “Offering”).

    The sales period for the overnight offering will end tomorrow, October 30, 2024. The offering is expected to close on or about November 6, 2024, and is subject to certain closing conditions including approval by the Toronto Stock Exchange (“TSX”). The Preferred Shares will be offered at a price of $15.00 per Preferred Share representing a yield on the original issue price of 8.50%. The trading price on the TSX for the Preferred Shares as at the last trade on October 29, 2024, was $15.16. Since the inception of the Fund, the aggregate dividends declared on the Preferred Shares have been $24.36 per share.

    The Fund invests in a portfolio consisting principally of common shares of Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada and The Toronto-Dominion Bank. To generate additional returns above the dividend income earned on the Fund’s portfolio, the Fund will selectively write covered call and put options in respect of some or all of the common shares in the Fund’s portfolio. The manager and investment manager of the Fund is Mulvihill Capital Management Inc.

    The Preferred Shares pay fixed cumulative preferential monthly cash distributions in the amount of $0.10625 ($1.275 per annum) per Preferred Share representing a yield of 8.50% on the original issue price of $15.00.

    The syndicate of agents for the offering is being co-led by National Bank Financial Inc., CIBC Capital Markets, RBC Capital Markets, and Scotiabank.

    For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172, email at info@mulvihill.com or visit www.mulvihill.com

    John Germain, Senior Vice-President & CFO Mulvihill Capital Management Inc.
    121 King Street West
    Suite 2600
    Toronto, Ontario, M5H 3T9


    A short form base shelf prospectus containing important detailed information about the securities being offered has been filed with securities commissions or similar authorities in each of the provinces of Canada. Copies of the short form base shelf prospectus may be obtained from a member of the syndicate. The Fund intends to file a supplement to the short form base shelf prospectus and investors should read the short form base shelf prospectus and the prospectus supplement before making an investment decision. There will not be any sale or any acceptance of an offer to buy the securities being offered until the prospectus supplement has been filed with the securities commissions or similar authorities in each of the provinces of Canada.

    Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

    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.

    The MIL Network