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Category: Finance

  • MIL-OSI United Nations: UN Special Envoy for road safety visits Latin America to battle silent pandemic on the roads

    Source: United Nations Economic Commission for Europe

    The United Nations (UN) Secretary-General’s Special Envoy for Road Safety, Jean Todt, will visit Ecuador (20-21 August), Peru (22-24) and Chile (24-28) this week. During the visit, he will meet with key government officials, representatives of the international community, private, and public sectors to promote road safety initiatives and advocate for enhanced measures. This aligns with the Global Plan for the Decade of Action for Road Safety 2021-2030, aiming to halve road fatalities by 2030. This mission takes place a few weeks after the adoption of the new UN resolution for improving road safety ahead the 4th Global Ministerial Conference on Road Safety to be held in Marrakech, Morocco on 18 and 19 February 2025.

    A silent pandemic…

    In the region of Latin America and the Caribbean, 110,000 people die and more than 5 million are injured annually in road crashes (IDB 2024). Road crashes are the leading cause of death for children between the ages of 5 and 14 and the second leading cause for young adults, representing a significant social and economic burden.

    … and an economic and development issue  

    These countries are losing people in their most productive years, which, In addition to the human tragedy, traps countries into a vicious circle of poverty. According to the World Bank, the cost of road crashes represents 2 to 6 % of GDP in the region.  Another reason to rethink mobility and to invest in road safety.

    An efficient and safe road system with good private and public transportation facilities also means a better access to education, health care, food in an equitable way. Such a system also connects all parts of a country and society, contributing to building economic, social and environmental links between urban, peri-urban and rural areas.

    Latin America is one of the most urbanized regions in the world. Road safety should be therefore at the heart of cities’ development strategies, with increased focus on bicycles and pedestrians’ lines and itineraries, particularly around schools, and access to safe and clean public transport for all.

    During his mission, the Special Envoy will also advocate for more investment for road safety, including through the United Nations Road Safety Fund (UNRSF) which is running several projects in the region.

    “In Latin America, investing in road safety is key if we want to achieve our goal to halve the number of victims on the road by 2030. It will also help the region to decongestion cities with streets designed for pedestrians and bicycles and efficient public transport accessible to all” stressed the UNSG’s Special Envoy Jean Todt.

    Solutions exist

    The good news is that solutions exist. Law enforcement, urgent investment in education, better post-crash services, enhancing road infrastructure and vehicles, integrating advanced safety technologies are part of the recipe to stop the carnage on the road. Furthermore, mobilizing political leadership is essential to increase action and funding. Awareness campaigns also contributes to promote responsible behavior among all road users.

    Ecuador faces critical road safety challenges with high fatality rates

    According to the World Health Organization (WHO)’s Global Status Report on Road Safety 2023, Ecuador has seen a concerning rise in road fatalities, with a mortality rate of 23 per 100,000 people, which is more than three times the European average (6,5 per 100,000 people).

    During his visit to the country, the Special Envoy will hold important meetings with high-ranking officials from the Foreign Minister, the Minister of Education, the Mayor of Quito, officials from the Ministry of Economy and Finance, and the United Nations Country Team. Additionally, he will participate in a dialogue with representatives from the Ecuadorian Automotive Companies Association, civil society, and other road safety partners, emphasizing the urgent need for actions on this issue, both nationally and throughout Latin America.

    24.7 million trips per year in Metropolitan Lima

    According to the World Health Organization (WHO)’s Global Status Report on Road Safety 2023, Peru has a road traffic fatality rate of 13 per 100,000 people, which is more that the double of the European average (6,5 per 100,000 people).

    Currently, around 30% of the Peruvian population lives in Metropolitan Lima, the capital, generating 24.7 million trips per year, of which 57% are made by public transport, according to the Urban Transport Authority for Lima and Callao (ATU). The National Road Safety Observatory reports that, according to the National Police, in 2023 there were 87,083 traffic crashes, resulting in 58,000 injuries and 3,316 deaths. According to an unofficial Global Road Safety Facility (GRSF) estimate, the socio-economic costs of road deaths, serious injuries, and disabilities are up to 4.6% of GDP.

    In response to these challenges, the Peruvian government is prioritizing strengthening road safety institutions.

    During his mission in Peru, the Special Envoy will meet with Peruvian authorities and representatives of the private sector and civil society working in the sector.

    Raising awareness of life-saving road safety measures in Chile

    Despite recent improvement, Chile has a road traffic mortality rate of 10 per 100,000 people (World Health Organization (WHO)’s Global Status Report on Road Safety 2023). According to the most recent traffic report from the National Traffic Safety Commission of Chile (CONASET), 78,238 traffic crashes were recorded in 2023, resulting in 1,635 deaths and 45,679 injuries.

    The national authorities and civil society, with the support of the UN, increase efforts in addressing these challenges. In 2021, the United Nations Global Road Safety Week was celebrated with an intervention jointly organised by CONASET and PAHO/WHO that aimed to advocate for the establishment of 30 km/h speed limits on urban roads and to promote local support for such measures.

    Considering the exponential increase in the use of motorbikes in the country in recent years, and the proximity of the Independence Day celebrations in Chile, during his visit the Special Envoy will address the prevention of road crashes, use of helmets compliant with the UN safety regulation and promote road safety and coexistence measures.

    In this framework, he will participate in coordination meetings with government authorities, such as members of the Ministry of Transport, CONASET, Ministry of Health and the Chilean Police, as well as representatives of civil society and the private sector.

    During the visit, the Special Envoy will promote the UN-JCDecaux Global Road Safety Campaign, which aims to raise awareness of life-saving road safety measures. Launched globally in cooperation with JCDecaux Global under the motto #MakeASafetyStatement, it will run through 2025 in over 80 countries in the world, featuring safety statements from 14 global celebrities such as the F1 drivers Charles Leclerc and Mick Schumacher, singer Kylie Minogue, motorcycle race Marc Marquez, or the tennis champion Novak Djokovic. The messages the celebrities focus on mitigating risk factors on the road. Key aspects include wearing a seat belt, driving slowly, wearing a helmet, not texting and driving, not driving under the influence or while tired, and respecting pedestrians.

    MIL OSI United Nations News –

    September 29, 2024

  • MIL-OSI Europe: North Macedonia elections 2024: ODIHR election observation mission final report

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

    Headline: North Macedonia elections 2024: ODIHR election observation mission final report

    North Macedonia’s 2024 presidential and early parliamentary elections were competitive, and voters had the opportunity to make informed choices. However, while the legal framework provides the basis for democratic elections, it lacks sufficient regulation for a presidential contest, and recent changes introduced without sufficient transparency and public consultation. Election day was assessed positively overall, with voting procedures largely respected, although some election boards did not fully follow procedures during the count. Rules creating a direct link between public financing of campaigns and media opportunities for candidates disproportionately favoured the major political parties.
    These are some of the main conclusions from the final report on the 2024 elections published today by the OSCE Office for Democratic Institutions and Human Rights (ODIHR).
    The report offers 25 recommendations to improve the election process and support efforts to bring it further in line with the commitments made by all OSCE states, as well as other international obligations and standards for democratic elections.
    Key recommendations include:
    Revising the electoral legislation to eliminate inconsistencies;
    Investigating allegations of vote-buying and misuse of public resources;
    Improving women’s political participation in all aspects of the electoral process;
    Restructuring the system of allocating public funding for election campaigns to respect the principle of equal opportunity.
    ODIHR deployed an Election Observation Mission on 21 March 2024, which remained in the country until 19 May.
    All 57 participating States across the OSCE region have formally committed to follow up promptly on ODIHR’s election assessments and recommendations. A list of previous ODIHR recommendations and the extent to which they have been implemented so far can be found on p.32 of today’s report. The ODIHR Electoral Recommendations Database tracks the implementation of recommendations across the entire OSCE region.

    MIL OSI Europe News –

    September 29, 2024

  • MIL-OSI Canada: Minister of Justice and Attorney General of Canada announces a judicial appointment to the Federal Court of Appeal

    Source: Government of Canada News

    September 23, 2024 – Ottawa, Ontario – Department of Justice Canada 

    The Honourable Arif Virani, Minister of Justice and Attorney General of Canada, today announced the following appointment under the judicial application process established in 2016. This process emphasizes transparency, merit, and the diversity of the Canadian population, and will continue to ensure the appointment of jurists who meet the highest standards of excellence and integrity.

    The Honourable Panagiotis Pamel, a Judge of the Federal Court, is appointed a Judge of the Federal Court of Appeal. Justice Pamel replaces Justice Y. de Montigny, who was appointed Chief Justice on November 8, 2023.

    Quote

    “I wish Justice Pamel every success as he takes on his new role. I am confident he will serve Canadians well as a member of the Federal Court of Appeal.”

    —The Hon. Arif Virani, Minister of Justice and Attorney General of Canada

    Biography

    Justice Panagiotis Pamel was appointed to the Federal Court in 2019. After obtaining his Bachelor of Commerce (Finance) from Concordia University in 1983, he attended McGill University, graduating in 1987 with degrees in both civil and common law. He was admitted to the Quebec Bar in 1988.

    Prior to his appointment to the Federal Court, Justice Pamel practised at McMaster Meighen, a predecessor firm of Borden Ladner Gervais (BLG). Apart from a short stint in industry, he practised in the area of maritime law at BLG for over 30 years. He acted as counsel in several landmark decisions of the Federal Court, Federal Court of Appeal, and Supreme Court of Canada in the area of maritime law.

    Justice Pamel was a founding member of BLG`s Team North and past chair of the Arctic Issues Committee of the Canadian Maritime Law Association. He is a contributor to Canadian Maritime Law, 2nd edition, and has participated in numerous articles in the areas of maritime law and arctic navigation.

    MIL OSI Canada News –

    September 29, 2024

  • MIL-OSI Security: San Antonio VA Official Sentenced for Accepting Bribe as Contracting Consultant

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (c)

    SAN ANTONIO – A Veteran’s Affairs contracting officer in San Antonio was sentenced after a guilty plea to taking a bribe in return for contract.

    According to court documents, Glenn Dartone Johnson, 50, identified himself as a “consultant” and was hired by codefendant Javor McCoy to help McCoy win bids for VA transportation contracts. Using his acquisition knowledge gained through his official position, Johnson helped McCoy improve his chances of winning two competitive awards. On or about Aug. 13, 2021 and Aug. 23, 2021, McCoy paid Johnson a total of approximately $100,000 by placing the U.S. currency into a gym locker for Johnson to collect, which he did.

    Johnson pleaded guilty on Dec. 20, 2023, to one count of conspiracy to commit bribery of a public official. In addition to the sentence, Johnson will forfeit $43,790, pay a $58,000 fine, and serve 1,500 hours of community service.

    “Protecting the integrity of government funds is one of the most important functions of our office,” said U.S. Attorney Jaime Esparza for the Western District of Texas. “The public deserves to have confidence in how their tax dollars are spent, and this case demonstrates our commitment to ensuring that those who abuse the contracting system will be held responsible.”

    “The Department of Veterans Affairs is charged with serving those who served our country,” said Special Agent in Charge Aaron Tapp of the FBI’s San Antonio field office. “Any employee seeking to take advantage of their position to enrich themselves will be held accountable. The FBI remains committed to ensuring our veterans and the benefits they deserve are preserved, protected and honored.”

    “This sentence should send a clear message that those who would defraud VA’s programs and services will be held accountable,” said Special Agent in Charge Kris Raper with the Department of Veterans Affairs Office of Inspector General’s South Central Field Office. “The VA OIG thanks the U.S. Attorney’s Office, and our law enforcement partners for their efforts to achieve justice in this case.”

    The FBI and VA-OIG investigated the case. Assistant U.S. Attorneys Justin Chung and Jay Porier prosecuted the case.

    ###

    MIL Security OSI –

    September 29, 2024

  • MIL-OSI Security: McAllen Man Sentenced for Receiving Images of Child Pornography

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (c)

    McALLEN, Texas – A 27-year-old local man has been sentenced for receiving images and video files containing child pornography, announced U.S. Attorney Alamdar S. Hamdani.

    Gabriel Alejandro Morales pleaded guilty March 22, 2023.

    Chief U.S. District Judge Crane has now ordered Morales to serve 120 months in federal prison. At the hearing, the court heard additional information that Morales not only received child pornography but also engaged in the distribution of child pornography. In handing down the prison term, the court noted that engaging in the consumption of child pornography increases the demand, often leading to the production of new child pornography. Morales was further ordered to pay $3,000 in restitution to a known victim and will serve five years on supervised release following completion of his prison term. During that time, he will have to comply with numerous requirements designed to restrict his access to children and the internet. Morales will also be ordered to register as a sex offender.

    In January 2022, law enforcement learned of a group chat on a third-party messaging application that was identified as sharing child pornography. Morales had engaged in the receipt and distribution of approximately nine videos of child pornography on that site.

    Morales admitted to the use of the third-party messaging application on his cellular phone to engage in the receipt and distribution of child pornography. He further acknowledged possessing additional child pornography on other electronic devices.

    The images included sadistic/masochistic content and the depiction of prepubescent children engaged in sexual acts. Authorities ultimately found a total of 77 video files of child sex abuse materials, an additional 52 video files and 11 images attributable to Morales.

    Morales will remain in custody pending transfer to a U.S. Bureau of Prisons facility to be determined in the near future.

    The FBI conducted the investigation.

    Assistant U.S. Attorney Cahal P. McColgan and Alexa D. Parcell prosecuted the case, which was brought as part of Project Safe Childhood (PSC), a nationwide initiative the Department of Justice (DOJ) launched in May 2006 to combat the growing epidemic of child sexual exploitation and abuse. U.S. Attorneys’ Offices and the Criminal Division’s Child Exploitation and Obscenity Section leads PSC, which marshals federal, state and local resources to locate, apprehend and prosecute individuals who sexually exploit children and identifies and rescues victims. For more information about PSC, please visit DOJ’s PSC page. For more information about internet safety education, please visit the resources link on that page.

    MIL Security OSI –

    September 29, 2024

  • MIL-OSI United Kingdom: Home upgrade revolution as renters set for warmer homes and cheaper bills

    Source: United Kingdom – Executive Government & Departments

    New plans to boost minimum energy efficiency standards for all rented homes.

    • Over one million households to be lifted out of fuel poverty.
    • Government confirms move to boost minimum energy efficiency standards for rental properties, bringing all homes up to a decent standard by 2030.

    Over one million households are set to be lifted out of fuel poverty, as the government announces plans for the biggest potential boost to home energy standards in history.

    Families across the country are continuing to grapple with the consequences of high energy bills amid a cost-of-living crisis – with too many tenants exposed to a harsh daily reality of cold, draughty homes and expensive bills.

    Government intervention is now well overdue to transform living standards and deliver the safety and security of warmer, cheaper homes that are free from damp and mould.

    The Energy Secretary pledged to take action to reverse these failures of the past and stand with tenants, with a commitment to consult by the end of the year on boosting minimum energy efficiency standards for private and social rented homes by 2030.

    Currently, private rented homes can be rented out if they meet Energy Performance Certificate E, while social rented homes have no minimum energy efficiency standard at all.  

    The government will now shortly consult on proposals for private and social rented homes to achieve Energy Performance Certificate C or equivalent by 2030. 

    The government has also announced a new Warm Homes: Local Grant to help low-income homeowners and private tenants with energy performance upgrades and cleaner heating, and confirmed the continuation of the Public Sector Decarbonisation Scheme, as well as the Warm Homes: Social Housing Fund, which replaces the Social Housing Decarbonisation Fund, to support social housing providers and tenants. 

    Today’s announcements kickstart delivery of the government’s Warm Homes Plan, which will transform homes across the country by making them cleaner and cheaper to run, from installing new insulation to rolling out solar and heat pumps.

    Notes to editors

    • The number of tenant households in fuel poverty which are set to benefit from higher minimum energy efficiency standards is a preliminary estimate using the DESNZ National Buildings Model based on the assumptions from the Government’s preferred position in the 2020 consultation on Improving the Energy Performance of Privately Rented Homes in England and Wales. The same assumptions were also applied to social housing to estimate the impact of new standards in the social rented sector. This includes assuming an energy efficiency target rating of C based on SAP2012 and the estimate refers to fuel poor households in England only. No account is taken of other future policies that might interact, such as the Warm Homes: Social Housing Fund. Fuller analysis will be set out in an Impact Assessment for the Regulations.
    • Guidance for Local Authorities on the new Warm Homes: Local Grant, which replaces the Local Authority Delivery scheme, and which will start delivery in 2025, can be found here. The expression of interest window for Local Authorities wishing to participate will open in October this year. Low-income, private tenants will be eligible for support, with the agreement of their landlord. Private tenants are also eligible for support under the Energy Company Obligation. Further details of the Warm Homes Plan will be set out through the Spending Review. 
    • Guidance for Wave 3 of the Warm Homes: Social Housing Fund, which opens for applications in week commencing 30 September, can be found here.
    • Guidance for Phase 4 of the Public Sector Decarbonisation Scheme, which is delivered by Salix Finance, can be found here.
    • We will shortly set out a consultation with proposals for improvements to Energy Performance Certificates to make them more accurate and reliable.

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    Updates to this page

    Published 23 September 2024

    MIL OSI United Kingdom –

    September 29, 2024

  • MIL-OSI Africa: Secretary-General’s video message to the Leaders Meeting of the Alliance of Small Island States (AOSIS)

    Source: United Nations – English

    strong>Download the video:
    https://s3.amazonaws.com/downloads2.unmultimedia.org/public/video/evergreen/MSG+SG+/SG+20+Sept+24/MSG+SG+AOSIS+Leaders+Meeting.mp4

    Excellencies, friends,

    Small Island States have a big impact in our world.

    You place defining issues for humanity and the planet firmly on the global agenda.

    You show the power of multilateralism through unity, collaboration, and determination.

    And you lead internationally on many fronts — not least with your new Declaration on Sea Level Rise and Statehood.

    But global crises have an outsize impact.

    The climate crisis is pounding your communities and economies – and compounding the effects of years of global economic turmoil.

    In many of your countries, tourism – which is so central to economies and livelihoods – has not fully recovered from COVID-19.  

    The global cost-of living crisis has hit you hard.

    And a number of you are grappling with debt – forcing you to service it instead of investing in your people.

    But I see AOSIS leading the charge for change.

    The United Nations is proud to stand with you and to partner with you to deliver on the recently adopted Antigua and Barbuda Agenda for SIDS.

    Together we must keep pushing for action on climate and on finance.

    We need new national climate plans – or NDCs – from all countries that align with limiting global temperature rise to 1.5 degrees Celsius.

    These new climate plans should double as investment plans, boosting sustainable, resilient development, and targeting inequalities.
     
    The biggest emitters – the G20 – must lead these efforts, including a fair global phase out of fossil fuels.

    I am working with President Lula of Brazil to drive action in the G20.

    But the moral authority and dynamism of AOSIS will be critical.

    You did the least to cause this crisis. You account for just 0.2% of global emissions. But you play an outsized role in holding the biggest emitters to account.

    We must also call for significant contributions to the new Loss and Damage Fund and press developed countries to honour their promises on adaptation finance.

    And all countries must reach an ambitious agreement at COP29 – including on new and innovative finance.

    More broadly, your nations need fundamental action, to scale-up development and climate finance, scale-down the cost of such capital, and tackle the sovereign debt crisis.

    We welcome the SIDS Debt Sustainability Support Service.

    And the Summit of the Future has shown that it is possible to make the international financial system bigger, bolder and more representative of today’s world.

    We must keep pressing for change – including at the Fourth Financing for Development Conference.

    My congratulations on the General Assembly’s recent endorsement of the Multidimensional Vulnerability Index. 

    We must ensure that vulnerable middle-income countries can access concessional funds. 

    Your efforts mean the eligibility and access of these countries to concessional finance can no longer be ignored.

    Let’s keep up the pressure on the Multilateral Development Banks to incorporate structural vulnerability into their lending criteria.

    The United Nations is with you – speaking in harmony, and standing in solidarity.

    Let’s keep working for the change you — and our world — need.

    Thank you.  
     

    MIL OSI Africa –

    September 29, 2024

  • MIL-OSI United Nations: Secretary-General’s video message to the Leaders Meeting of the Alliance of Small Island States (AOSIS)

    Source: United Nations secretary general

    Download the video:
    https://s3.amazonaws.com/downloads2.unmultimedia.org/public/video/evergreen/MSG+SG+/SG+20+Sept+24/MSG+SG+AOSIS+Leaders+Meeting.mp4

    Excellencies, friends,

    Small Island States have a big impact in our world.

    You place defining issues for humanity and the planet firmly on the global agenda.

    You show the power of multilateralism through unity, collaboration, and determination.

    And you lead internationally on many fronts — not least with your new Declaration on Sea Level Rise and Statehood.

    But global crises have an outsize impact.

    The climate crisis is pounding your communities and economies – and compounding the effects of years of global economic turmoil.

    In many of your countries, tourism – which is so central to economies and livelihoods – has not fully recovered from COVID-19.  

    The global cost-of living crisis has hit you hard.

    And a number of you are grappling with debt – forcing you to service it instead of investing in your people.

    But I see AOSIS leading the charge for change.

    The United Nations is proud to stand with you and to partner with you to deliver on the recently adopted Antigua and Barbuda Agenda for SIDS.

    Together we must keep pushing for action on climate and on finance.

    We need new national climate plans – or NDCs – from all countries that align with limiting global temperature rise to 1.5 degrees Celsius.

    These new climate plans should double as investment plans, boosting sustainable, resilient development, and targeting inequalities.
     
    The biggest emitters – the G20 – must lead these efforts, including a fair global phase out of fossil fuels.

    I am working with President Lula of Brazil to drive action in the G20.

    But the moral authority and dynamism of AOSIS will be critical.

    You did the least to cause this crisis. You account for just 0.2% of global emissions. But you play an outsized role in holding the biggest emitters to account.

    We must also call for significant contributions to the new Loss and Damage Fund and press developed countries to honour their promises on adaptation finance.

    And all countries must reach an ambitious agreement at COP29 – including on new and innovative finance.

    More broadly, your nations need fundamental action, to scale-up development and climate finance, scale-down the cost of such capital, and tackle the sovereign debt crisis.

    We welcome the SIDS Debt Sustainability Support Service.

    And the Summit of the Future has shown that it is possible to make the international financial system bigger, bolder and more representative of today’s world.

    We must keep pressing for change – including at the Fourth Financing for Development Conference.

    My congratulations on the General Assembly’s recent endorsement of the Multidimensional Vulnerability Index. 

    We must ensure that vulnerable middle-income countries can access concessional funds. 

    Your efforts mean the eligibility and access of these countries to concessional finance can no longer be ignored.

    Let’s keep up the pressure on the Multilateral Development Banks to incorporate structural vulnerability into their lending criteria.

    The United Nations is with you – speaking in harmony, and standing in solidarity.

    Let’s keep working for the change you — and our world — need.

    Thank you.  
     

    MIL OSI United Nations News –

    September 29, 2024

  • MIL-OSI Canada: Construction Week Proclaimed in Saskatchewan

    Source: Government of Canada regional news

    Released on September 23, 2024

    Week Highlights Construction Sector’s Role in Economic Growth 

    The Government of Saskatchewan has proclaimed September 23 to 27 as Saskatchewan Construction Week. The week has been proclaimed to celebrate the extensive economic and social contributions made by the province’s dynamic construction industry. 

    “Saskatchewan’s construction industry is not only a major contributor to jobs in the province, but also plays a crucial role in building the infrastructure necessary for a growing economy,” Trade and Export Development Minister Jeremy Harrison said. “As we work toward achieving and surpassing our Growth Plan goals of growing the provincial population to 1.4 million people and creating 100,000 new jobs, the construction industry will further excel this growth by building the offices, facilities, housing and more which contribute to our strong and vibrant communities.” 

    The construction industry in Saskatchewan is a key driver of economic growth. Last year, real GDP for the sector grew by 13.6 per cent, with the sector’s real GDP reaching $6 billion. Currently, there are over 43,000 (seasonally adjusted) people employed in the province’s construction industry, making it one of the most important economic sectors in Saskatchewan in terms of job creation. 

    “During Saskatchewan Construction Week, we celebrate the dedicated professionals who form the backbone of our province’s economy,” Construction Associations of Saskatchewan co-CEO Shannon Friesen said. “These skilled workers, often behind the scenes, build the infrastructure that drives our communities forward.” 

    “Their contributions are vital, not just in constructing roads, schools, and hospitals, but in shaping the very foundation of our future,” Construction Associations of Saskatchewan co-CEO Kevin Dureau said. “This week, we honour their commitment, resilience, and the essential role they play in ensuring Saskatchewan remains strong and prosperous.” 

    The growth the construction industry has experienced recently has had an overall positive impact on Saskatchewan’s economy, with Statistics Canada’s latest GDP numbers indicating that the province’s 2023 real GDP reached an all-time high of $77.9 billion, increasing by $1.2 billion, or 1.6 per cent. This places Saskatchewan second in the nation for real GDP growth, and above the national average of 1.2 per cent.

    Private capital investment is projected to reach $14.2 billion in 2024, an increase of 14.4 per cent over 2023. This is the highest anticipated percentage increase in Canada.

    The Government of Saskatchewan also recently unveiled its new Securing the Next Decade of Growth – Saskatchewan’s Investment Attraction Strategy. This strategy combined with Saskatchewan’s trade and investment website, InvestSK.ca, contains helpful information for potential investors and solidifies the province as the best place to do business in Canada. 

    For more information visit InvestSK.ca.

    -30-

    For more information, contact:

    MIL OSI Canada News –

    September 29, 2024

  • MIL-OSI Security: Washington Man Sentenced to Prison for Assaulting His Partner with a Knife and Attempting to Suffocate Her

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (c)

    Spokane, Washington – United States District Judge Thomas O. Rice sentenced Marvin Samson Butterfly, age 40, to 70 months in federal prison on charges of Assault with a Dangerous Weapon in Indian Country, Assault of an Intimate Partner and Dating Partner by Suffocating and Attempting to Suffocate in Indian Country, and Attempted Witness Tampering (70 months on each count to be served concurrently). Butterfly was convicted of those crimes on April 9, 2024, following a jury trial. Judge Rice also imposed 3 years of federal supervision after Butterfly is released from prison.

    According to court documents and information introduced at trial and sentencing, on September 16, 2023, officers with the Spokane Tribal Police Department were called to a home in Ford, Washington, for a reported domestic assault. The victim, who is an enrolled member of the Spokane Tribe told officers that Butterfly assaulted her. Butterfly was upset with the victim because she had let another woman shelter in her home during a spell of cold weather. Butterfly began shouting, took out a long knife, and stabbed the floors, doors, and furniture. Butterfly assaulted the victim by holding the knife against her throat. Butterfly then pushed the victim down on the couch, placed his hand over her mouth and attempted to suffocate her. After the victim was able to pry Butterfly’s fingers off her face, Butterfly left the home in the victim’s car. Officers found Butterfly the next morning asleep in the victim’s car.

    On November 2, 2023, while in jail, Butterfly placed a recorded telephone call to his neighbor. During the call, Butterfly made several statements indicating he did not want the victim to testify. Butterfly encouraged his neighbor to stress to the victim that he would be coming home – i.e., getting out of jail – so long as the victim did not cooperate with investigators.

    “The victim in this case suffered terrifying acts of abuse and intimidation, stated Vanessa Waldref, United States Attorney for the Eastern District of Washington. “Domestic violence is one of the root causes underlying the MMIP crisis. My office is committed to working with our partners in Tribal and Federal law enforcement to secure justice for the victims and to build safer and stronger communities on Tribal lands and throughout Eastern Washington. I am grateful that the victim in his case was undeterred and that my office has built a strong support mechanism to protect the brave victims, that seek to end the abusive cycle of violence.”

    “Terrifying is the word that best describes the ordeal Mr. Butterfly inflicted upon the victim in this case.” said Richard A. Collodi, Special Agent in Charge of the FBI’s Seattle field office. “I’m thankful the victim was courageous and advocated for herself to help put Mr. Butterfly in custody where he belongs. Curbing violent crime on our state’s reservations remains a priority for the FBI and our partners here in Washington.”

    This case was investigated by the Federal Bureau of Investigation and the Spokane Tribal Police Department. This case was prosecuted by Assistant United States Attorney Michael Ellis.

    MIL Security OSI –

    September 29, 2024

  • MIL-OSI Security: Texas Man Arrested and Charged with Making Threats to Kill Nashville District Attorney Glenn Funk

    Source: United States Department of Justice (Hate Crime)

    NASHVILLE –A federal criminal complaint filed today charges David Aaron Bloyed, 59, of Frost, Texas, with threatening to lynch and kill Glenn Funk, the elected District Attorney General (“DA”) for Nashville and Davidson County, Tennessee, announced United States Attorney for the Middle District of Tennessee Henry C. Leventis.

    According to the complaint, on July 14, 2024, members of the Goyim Defense League (“GDL”) – an antisemitic Neo-Nazi group – were protesting in downtown Nashville when they encountered an employee of a local bar. A fight broke out and a GDL member was arrested and charged with aggravated assault for hitting the bar employee repeatedly using a metal flagpole with a swastika flag affixed to the top.

    While in Nashville, GDL members routinely posted about their activities on various social media platforms, including Telegram. Following the arrest of the GDL member, a Telegram user associated with GDL posted threats against DA Funk that included a photograph of DA Funk with the caption, “Getting the rope,” and an emoji finger pointed towards Funk’s image. The posts also included a photograph of a person hanging by the neck from a gallows, with the phrases, “The ‘Rope List’ grew by a few more Nashville jews today,” and “Will you survive the day of the rope?” Law enforcement subsequently identified another social media account with an almost identical username, belonging to Bloyed and containing threats nearly identical to those posted on the Telegram account.

    “In a functioning democracy, we simply cannot tolerate threats of violence against elected officials,” said United States Attorney Henry C. Leventis. “The charges announced today are just the latest illustration of the Department’s commitment to protecting public servants and upholding the rule of law.”  

    If convicted, Bloyed faces up to five years in federal prison. This case is being investigated by the Federal Bureau of Investigation, Nashville Resident Agency, Memphis Field Office and the Metropolitan Nashville Police Department.

    A federal complaint is merely an allegation. The defendant is presumed innocent until proven guilty.

    # # # # #

    MIL Security OSI –

    September 29, 2024

  • MIL-OSI: QUADIENT: H1 2024 results: Solid 3.2% reported revenue growth and sharp improvement in profitability from Digital

    Source: GlobeNewswire (MIL-OSI)

    H1 2024 results: Solid 3.2% reported revenue growth
    and sharp improvement in profitability from Digital

    Key highlights

    • H1 2024 consolidated sales of €534 million, up +3.2% on a reported basis including the contribution of the latest acquisitions (Daylight and Frama) and up +0.8% organically(1)
    • H1 2024 subscription-related revenue up +0.7% on an organic basis, representing 72% of total revenue
    • Strong performance from North America at +2.8% organic growth in H1 2024, representing 58% of Group Sales
    • H1 2024 EBITDA of €111 million, up 2.6% organically, primarily driven by a strong increase in profitability in Digital
    • H1 2024 Group current EBIT of €61 million, up 0.3% organically
    • Net attributable income of €24 million
    • Leverage ratio excluding leasing reduced to 1.6x2
    • FY 2024 outlook confirmed
    • Launch of share buyback program for up to €30 million

    Paris, 23 September 2024

    Quadient S.A. (Euronext Paris: QDT), a global automation platform powering secure and sustainable business connections, , today announces its 2024 second-quarter consolidated sales and first half results (period ended on 31 July 2024). The first-half 2024 results were approved by the Board of Directors during a meeting held on 20 September 2024.

    Geoffrey Godet, Chief Executive Officer of Quadient S.A., stated:

    “Quadient achieved a solid performance in the first half of 2024, setting a good start to the execution of our new strategic plan, ‘Elevate to 2030’, which aims at delivery €1 billion of subscription-related revenue by 2030. The various modules of our SaaS communication and financial automation platform are further recognized for their technical specificities as well as for their ease of use, reflecting our strong customer centric approach. Our highly recurring business model continues to be fueled by good results in both cross-selling and up-selling our solutions, by the strong outperformance of our Mail business as well as by a solid volume increase within our European parcel lockers open networks.

    In parallel, the profitability of our Digital business has sharply increased. Indeed, our Digital EBITDA margin gained 6 points compared to the first half of 2023, demonstrating our commitment to strengthen our investment proposition. Confident in our value-creation potential and in our capacity to achieve our short- and long-term guidance, including our 2026 leverage target, we are announcing today a share buy-back program aimed at improving the return to our shareholders. More than ever, our objective is to accelerate our existing growth trajectory and propel Quadient as the leader in intelligent automation.”

    Comments on H1 2024 performance

    Group sales came in at €534 million in H1 2024, a 3.2% increase on a reported basis, and 0.8% organic growth compared to H1 2023 in line with Quadient’s expectations. The reported growth includes a positive currency impact of €1 million and a positive scope effect of €12 million, which is related to the acquisition of Daylight in September 2023 and to the acquisition of Frama in February 2024. In Q2 2024, organic revenue growth reached 0.6% compared to Q2 2023.

    Consolidated sales and EBITDA by solution

    H1 2024 consolidated sales

    In € million H1 2024 H1 2023
    restated(a)    		 Change Organic change
    Digital 130 120 +8.3% +5.9%
    Mail 362 353 +2.5% (0.5)%
    Lockers 43 45 (4.7)% (2.5)%
    Group total 534 517 +3.2% +0.8%
    (a)  The full-year 2023 financial statements published in March 2024 reflected Quadient’s decision to review the future of its Mail activity in Italy with a view to divest this subsidiary within the next 12 months.
    As this was the case in the full-year 2023 statements, H1 2023 revenue from the aforementioned subsidiary is not represented in the consolidated revenue of the Group as it is recorded as discontinued operations. This is still the case in H1 2024.

    EBITDA and EBITDA margin

      H1 2024 H1 2023 restated (a)
    In € million EBITDA EBITDA margin EBITDA EBITDA margin
    Digital 20 15.7% 11 9.3%
    Mail 94 25.8% 102 29.0%
    Lockers (3) (6.7)% (1) (3.0)%
    Group total 111 20.8% 112 21.7%
    (a)  The full-year 2023 financial statements published in March 2024 reflected Quadient’s decision to review the future of its Mail activity in Italy with a view to divest this subsidiary within the next 12 months.
    As this was the case in the full-year 2023 statements, H1 2023 EBITDA from the aforementioned subsidiary is not represented in the consolidated EBITDA of the Group as it is recorded as discontinued operations. This is still the case in H1 2024.

    Digital

    In H1 2024, revenue from Digital reached €130 million, up 5.9% organically (+5.8% in Q2 2024 vs. Q2 2023) and up 8.3% on a reported basis (including the contribution from Daylight) compared to H1 2023. Importantly, growth for the Solution was still impacted by the delay in the implementation of two large contracts, announced in Q3 2023.

    At the end of H1 2024, annual recurring revenue (ARR), which is a forward-looking indicator of future subscription-related revenue, reached €221 million, up from €206 million at the end of FY 2023, representing a 15.3% organic(3)growth on an annualized basis.

    In H1 2024, subscription-related revenue recorded a strong 8.7% organic growth, now representing 82% of Digital total sales, a further increase compared to 80% in H1 2023. The share of SaaS customers stands at 83% at the end of H1 2024.

    EBITDA for Digital was €20 million for the period, representing a 15.7% EBITDA margin, up 6.4 points compared to H1 2023. Strong improvement in profitability continues, supported by the combination of subscription-related revenue growth, and platform size benefits, despite further commercial and innovation investments. The profitability is expected to continue improving in FY 2024.

    As part of the customer acquisition focus, Digital continues to experience strong commercial dynamics, supported by solid cross-selling with Mail including some large deals (notably one deal above USD1 million) in North America. Digital is benefiting from a positive start to Q3 2024 thanks to a new large deal with a US insurance company worth more than USD7 million over 5 years. Regarding the upcoming e-invoicing regulation in Europe, Quadient is now officially registered as a Partner Dematerialization Platform in France.

    As part of the customer expansion process, the onboarding of all eligible customers on the Quadient Hub is now completed. Focus continues on further increasing up-selling. New partnerships, notably with Microsoft business central, Sage200 (ERP solutions) and Stripe (payment solution), have also been signed. Lastly, the churn rate in Digital continues to decline, now standing well below 5%.

    Mail

    Mail revenue reached €362 million in H1 2024, down only 0.5% on an organic basis (-0.8% in Q2 2024 vs. Q2 2023). The reported growth stood at +2.5%, including the contribution of Frama.

    Hardware sales recorded a 4.8% organic growth in H1 2024, with strong contributions from North America, including a positive impact from decertification. The focus on investing into renewing the products offering continues to support product placements, as seen in the further increase in the share of the upgraded installed base, reaching 36.6% at the end of H1 2024 vs. 31.5% at the end of FY 2023.

    Subscription-related revenue (68% of Mail sales) recorded a limited 2.8% organic decline in H1 2024.

    EBITDA for Mail was €94 million for H1 2024. EBITDA margin reached 25.8%, down 3.2 points compared to H1 2023. The level of EBITDA margin of Mail was impacted by the higher proportion of revenue from equipment sales as well as by the dilution due to Frama acquisition, which performance is expected to improve significantly from 2025.

    Thanks to its strong customer acquisition focus, Quadient’s Mail business continues to outperform the market. The commercial performance is expected to be resilient in Q3 2024. On the acquisition side, the aim is to upgrade the installed base.

    As part of the customer expansion focus, the cross-selling remains solid, especially in the US, with several large contracts signed. Lastly, Mail benefited from the positive impact of the ongoing US mailing systems decertification.

    Lockers

    Lockers revenue reached €43 million in H1 2024, a 2.5% decrease on an organic basis (-1.8% in Q2 2024 vs Q2 2023) and a 4.7% decrease on a reported basis compared to H1 2023.

    Subscription-related revenue was up 5.3% organically in H1 2024, benefiting from the solid volumes ramp up within the UK and the French open networks, as well as the contribution of the existing installed base, supported by the higher number of carriers committed to use Quadient’s open networks. However, change in commercial agreements with Yamato in Japan in Q3 2023 leading to a greater focus on usage as opposed to a rental-based model, continues for now to weigh on the subscription-related revenue. Overall, subscription-related revenue stood at 65% of total revenue in H1 2024, up from 61% in H1 2023.

    Non-recurring revenue (license & hardware sales and professional services) were down 15.1% organically in H1 2024. Hardware sales were still impacted by slower new installations in North America.

    Quadient’s global locker installed base reached c.21,400 units at the end of H1 2024 vs. c.20,200 units at the end of FY 2023. This is reflecting an acceleration in the pace of installation of new lockers, notably in the UK, fueled by the partnerships signed by Quadient to host parcel lockers in new suitable locations.

    EBITDA for Lockers was negative at €(3) million in H1 2024. EBITDA margin stood at (6.7)%, down by 3.7 points. The decrease in EBITDA margin was mainly due to the negative impact from the change in commercial agreement with Yamato for the Japanese installed base at the start of H2 2023.

    As part of the customer acquisition focus, Quadient is accelerating the installation pace for lockers in the open networks in Europe, mostly in France and in the UK. This is supported by the additional deals signed for premium locations and conversion of existing lockers. Conversely, the trend remains slow in North America.

    As part of the customer expansion focus, volume increased strongly from both pick-up and drop-off in the open networks. The lockers business is also fueled by innovation in usage offerings, notably with new partnership with KeyNest in the United Kingdom, bringing additional volumes into the open network.

    REVIEW OF 2024 FIRST HALF-YEAR RESULTS

    Simplified P&L

    In € million H1 2024 H1 2023 restated (a) Change
    Sales 534 517 +3.2%
    Gross profit 399 387 +3.2%
    Gross margin 74.4% 74.8%  
    EBITDA 111 112 (1.1)%
    EBITDA margin 20.8% 21.7%  
    Current EBIT 61 65 (6.0)%
    Current EBIT margin 11.5% 12.6%  
    Optimization expenses and other operating income & expenses (16) (6) n/a
    EBIT 45 59 (24.4)%
    Financial income/(expense) (21) (16) +32.3%
    Income before tax 24 43 (45.4)%
    Income taxes 2 (6) n/a
    Net income of continued operations 26 37 (31.0)%
    Net income from discontinued operations (1) (0) n/a
    Net attributable income 24 36 (32.8)%
    Earnings per share 0.71 1.05 n/a
    Diluted earnings per share 0.71 1.05 n/a
    (a)  The full-year 2023 financial statements published in March 2024 reflected Quadient’s decision to review the future of its Mail activity in Italy with a view to divest this subsidiary within the next 12 months.
    As this was the case in the full-year 2023 statements, H1 2023 contribution from the aforementioned subsidiary is not represented in the consolidated P&L of the Group as it is recorded as discontinued operations. This is still the case in H1 2024.

    Gross margin stood at 74.4% in H1 2024 from 74.8% in H1 2023, due to slightly higher cost of sales and the impact of Frama integration.

    EBITDA(4) for the Group reached €111 million in H1 2024, almost flat compared to H1 2023. Organically, the EBITDA grew by 2.6%, thanks to a solid increase at Digital offsetting a weaker EBITDA performance in Mail. EBITDA margin stood at 20.8% in H1 2024, vs 21.7% in H1 2023.

    Depreciation and amortization stood at €50 million in H1 2024, compared to €47 million in H1 2023. This is mainly due to slightly higher amortization of Lockers’ capex for rent.

    Current operating income (current EBIT) reached €61 million in H1 2024 compared to €65 million in H1 2023, down 6.0% on a reported basis and up 0.3% on an organic basis. Current operating margin stood at 11.5% of sales in H1 2024 compared to 12.6% in H1 2023.

    Optimization costs and other operating expenses stood at €16 million in H1 2024, versus €6 million in H1 2023 which was impacted by the write-off of an IT project and additional office optimization in the United States and the United Kingdom.

    Consequently, EBIT reached €45 million in H1 2024, versus €59 million recorded in H1 2023.

    Net attributable income

    Net cost of debt was up year-on-year at €20 million, against €15 million in H1 2023, impacted by higher interest rates on the variable portion of the debt (one third of Quadient’s debt). The currency gains & losses and other financial items was a loss of €(1) million in H1 2024, stable vs. H1 2023. Overall, net financial result was a loss of €21 million in H1 2024 compared to a loss of €16 million in H1 2023.

    Income tax reached a €2 million profit in H1 2024, benefitting from the positive impact of internal IP transfers. It compares to an expense of €6 million in H1 2023.

    Net income from discontinued operations of the Mail Italian subsidiary amounts to €(1) million, including additional fees related to the ongoing sale process for this subsidiary.

    Net attributable income after minority interest amounted to €24 million in H1 2024 compared to €36 million in H1 2023.

    Earnings per share from continued operations came in at €0.74 in H1 2024 compared to €1.06 in H1 2023. The fully diluted earnings per share(5) was €1.05 in H1 2023.

    Earnings per share stood at €0.71 in H1 2024 compared to €1.05 in H1 2023. The fully diluted earnings per share(5) was €0.71 in H1 2024 compared to €1.05 in H1 2023. The impact of dilutive instruments is accretive, dilutive earnings per share is therefore brought into line with net earnings per share.

    Cash flow generation

    The change in working capital was a net cash outflow by €19 million in H1 2024 compared to a net cash outflow of €55 million in H1 2023, mostly reflecting a better level of cash collection and the one-off positive impact from timing differences in VAT payments.

    The leasing portfolio and other financing services stood at €591 million as of 31 July 2024, compared to €598 million as of 31 January 2024 (only down by (1.0)% on an organic basis), thanks to the solid performance of the Mail activity. While generating future subscription-related revenue, the expected increase in lease receivables resulting from the good performance in the placement of new equipment will translate into a cash outflow in H2 2024. At the end of H1 2024, the default rate of the leasing portfolio stood at around 1.2% compared to c.1.3% at the end of FY 2023.

    Interest and taxes paid increased slightly to €38 million in H1 2024 versus the amount of €35 million paid in H1 2023. The difference was mostly explained by higher interest rates in H1 2024.

    Capital expenditure reached €46 million in H1 2024, stable compared to H1 2023 reflecting an increase in capex for rent offset by the non-renewal of office leases (lower IFRS 16 capex). Capex for Digital reached €12 million in H12024, slightly up compared to €11 million in H1 2023 and was mainly focused on R&D. Capex for Mail decreased from €25 million to €22 million, due to lower IFRS 16 capex linked to less office leases renewal. Capex for Lockers increased from €10 million to €13 million to support the open network deployment in the UK and France.

    All in all, cash flow after capital expenditure was up from a negative amount of €15 million in H1 2023 to a positive amount of €3 million in H1 2024.

    Leverage and liquidity position

    Net debt stood at €726 million as of 31 July 2024, a slight increase against the €709 million of net financial debt recorded as of 31 January 2024. In June 2024, the Group extended by an additional year the maturity of its Revolving Credit Facility to 2029. In July 2024, Quadient proceeded to a partial bond buy-back for a total amount of €7 million, leaving the outstanding amount of the 2.25% bond at €260 million.

    The Group is well positioned to refinance its 2.25% bond, maturing early 2025.

    The leverage ratio (net debt/EBITDA) remained broadly stable from 3.0x(2) as of 31 July 2024 compared to 2.9x(2) as of 31 January 2024. Excluding leasing, Quadient leverage ratio improved from 1.65x(2) as of 31 January 2024 to 1.6x(2) as of 31 July 2024.

    As of 31 July 2024, the Group had a robust liquidity position of €494 million, split between €194 million in cash and a €300 million undrawn credit line, maturing in 2029.

    Shareholders’ equity stood at €1,064 million as of 31 January 2024 compared to €1,069 million as of 31 January 2024. The gearing ratio(6) stood at 68,2% as of 31 July 2024.

    MAIL ITALIAN SUBSIDIARY

    Following the reclassification of the Mail Italian Subsidiary as discontinued operations under IFRS 5 in full-year 2023, an agreement for its sale has been signed with a local mail distribution company in July 2024.

    CAPITAL ALLOCATION

    In line with Quadient’s capital allocation policy, the Company announces the launch of a share buyback program for a total consideration of up to €30 million to be executed on the market over an18-month(7) period.

    This operation aims at improving shareholders’ return. It also demonstrates Quadient’s confidence in the value creation potential of its new Elevate to 2030 strategic plan, its ability to reach its FY 2026 leverage ratio target(8) and is in line with the capital allocation policy of the Company. A press release detailing this share buyback program has been published alongside today’s H1 2024 results.

    OUTLOOK

    With H1 2024 organic growth in line with expectations, Quadient confirms its FY 2024 financial guidance of organic growth both at the revenue and current EBIT levels. H2 2024 will benefit from an easier comparison basis for both Digital and Lockers as there will no longer be any negative impact neither from the delay in implementation of the two large SaaS contracts, nor from the change in commercial agreement with Yamato, which took place at the beginning of H2 2023.

    Q2 2024 BUSINESS HIGHLIGHTS

    Approval of all resolutions by the combined Shareholders’ meeting of 14 June 2024
    On 17 June 2024, Quadient announced that its combined Annual General Meeting was held on 14 June 2024, under the chairmanship of Mr. Didier Lamouche. All submitted resolutions were ratified, with an attendance rate of 74.19% (quorum for ordinary and extraordinary resolutions).

    The Annual General Meeting approved the renewal of the three-year terms of directorship of Hélène Boulet-Supau, Geoffrey Godet, Richard Troksa. Vincent Mercier’s directorship was renewed for an 18-month term, until 31 December 2025. The Annual General Meeting also approved the co-option and approved the renewal for a three-year term of Bpifrance Investissement, represented by Emmanuel Blot.

    Quadient expands its Open Locker Network in new high traffic locations in Japan, leveraging existing JR East Smart Logistics Lockers
    On 21 June 2024, Quadient announced a significant expansion of its open locker network in Japan through a strategic partnership with JR East Smart Logistics Co., Ltd., the logistics arm of the major Japanese rail company. This collaboration integrates Quadient’s advanced parcel delivery and pickup functionalities into JR East’s existing multifunctional locker system, Multi E-Cube, across Japan’s extensive railway network. This marks the first time Quadient is expanding its intelligent locker capacities to third-party networks, highlighting its agility in deploying an open and interoperable logistics ecosystem with new approaches.

    Quadient reports cross-selling success in North America, reinforcing strategic vision
    On 2 July 2024, Quadient announced that nearly 50% of the large deals signed in North America with mail automation customers in May included digital automation platform applications, confirming the critical role its software solutions play in influencing customer decisions. Additionally, two-thirds of these cross-sell deals, secured by Quadient’s mail teams, featured both mail and digital automation solutions, reaching an over 60% integration rate.

    Quadient launches new cloud-based application to empower small businesses in their Mail management processes
    On 4 July 2024, Quadient announced the launch of Secure Barcode, a cloud-based application designed to enhance the security of customer physical communications through seamless barcode generation and insertion into documents. This innovative solution is tailored for small businesses that are beginning their journey into digital mail solutions, providing immediate benefits in document management and operational efficiency.

    Quadient and Punch Pubs Partner to enhance parcel locker access for UK communities
    On 11 July 2024, Quadient announced a new contract with Punch Pubs, a leading pub company in the UK. This partnership will see the deployment of Quadient’s Parcel Pending open locker network across 1,261 pub locations managed by Punch Pubs, enhancing the accessibility and convenience of parcel deliveries and returns for communities nationwide. This collaboration supports sustainable growth strategies, leveraging Punch Pubs’ nationwide commercial properties to deliver value to local populations. 

    More than 1.5 million higher education Students in the U.S. now rely on Quadient smart lockers for package delivery
    On 25 July 2024, Quadient announced it has reached a new milestone of installed smart lockers totaling more than 250 colleges and universities across the United States. Across the campuses, more than 1.5 million students per year are served by the automated lockers.

    POST-CLOSING EVENTS

    Quadient recognized as a major player for first time in IDC MarketScape for worldwide accounts payable automation software for midmarket and small businesses
    On 14 August 2024, Quadient announced it has been named a Major Player for the first time in two IDC MarketScape reports – IDC MarketScape: Worldwide Accounts Payable Automation Software for Midmarket 2024 Vendor Assessment (doc # US52378624, July 2024) and IDC MarketScape: Worldwide Accounts Payable Automation Software for Small Businesses 2024 Vendor Assessment (doc # US52378824, July 2024).

    Quadient secures major contract in North America, demonstrating strength in integrating Digital communications and Mail automation solutions
    On 28 August 2024, Quadient announced a new contract with a North American global leader in financial services, worth approximately €1.4 million per year over an initial period of three years. This successful deal underscores Quadient’s capability to meet the complex communication needs of large organizations through its extensive portfolio of digital and mail automation platforms, combined with high-level consulting and professional services.

    Quadient unveils new mobile app, enabling any local business to offer parcel locker delivery services to customers
    On 4 September 2024, Quadient announced the launch of a mobile app that enables local businesses to deliver customer orders directly to Quadient open network lockers without the need for specific software integrations. The app is already available in the Japanese market under the name PUDO ACCESS and will soon be made available in other countries, continuing to create value for merchants and their local communities.

    E-invoicing mandate for businesses in France: Quadient officially registered as a Dematerialization Platform Partner
    On 12 September 2024, Quadient announced its official registration as a Partner Dematerialization Platform (PDP) under number 0060. This registration, issued on 12 September 2024 by the PDP Registration Service of the Public Finance Department, acknowledges that Quadient meets all the requirements of the new Finance Law and is authorized to participate in the next phase of interoperability tests with the tax authorities’ platform when it becomes available.

    Quadient Named a Leader in 2024 SPARK Matrix for Accounts Payable Automation
    On 19 September 2024, Quadient announced it has been recognized as a Technology Leader in the “SPARK Matrix: Accounts Payable Automation” report, a detailed analysis of the accounts payable (AP) automation market by independent analyst firm QKS Group. The recognition comes on the heels of Quadient also being named a Technology Leader in the “2024 SPARK Matrix: Accounts Receivable (AR) Applications” report, which was published in May. This marks the second year in a row that Quadient has been named a leader in both AP and AR in the SPARK Matrix reports.

    To know more about Quadient’s news flow, previous press releases are available on our website at the following address: https://invest.quadient.com/en/newsroom.

    CONFERENCE CALL & WEBCAST

    Quadient will host a conference call and webcast today at 6:00 pm Paris time (5:00 pm London time).

    To join the webcast, click on the following link: Webcast.

    To join the conference call, please use one of the following phone numbers:

    ▪ France: +33 (0) 1 70 37 71 66.

    ▪ United States: +1 786 697 3501.

    ▪ United Kingdom (standard international): +44 (0) 33 0551 0200.

    Password: Quadient

    A replay of the webcast will also be available on Quadient’s Investor Relations website for 12 months.

    Calendar

    • 27 November 2024: Third quarter 2024 sales release (after close of trading on the Euronext Paris regulated market).

    About Quadient®

    Quadient is a global automation platform provider powering secure and sustainable business connections through digital and physical channels. Quadient supports businesses of all sizes in their digital transformation and growth journey, unlocking operational efficiency and creating meaningful customer experiences. Listed in compartment B of Euronext Paris (QDT) and part of the CAC® Mid & Small and EnterNext® Tech 40 indices, Quadient shares are eligible for PEA-PME investing.

    For more information about Quadient, visit https://invest.quadient.com/en/.

    Contacts

    APPENDIX

    Digital: New name for Intelligent Communication Automation

    Mail: New name for Mail-Related Solutions

    Lockers: New name for Parcel Locker Solutions

    H1 2024 and Q2 2024 consolidated sales

    H1 2024 consolidated sales by geography

    In € million H1 2024 H1 2023
    restated (a)    		 Change Organic
    change
    North America 308 295 +4.1% +2.8%
    Main European countries(b) 182 173 +4.9% (1.6)%
    International(c) 45 49 (8.0)% (2.5)%
    Group total 534 517 +3.2% +0.8%
    (a)  The full-year 2023 financial statements published in March 2024 reflected Quadient’s decision to review the future of its Mail activity in Italy with a view to divest this subsidiary within the next 12 months.
    As this was the case in the full-year 2023 statements, H1 2023 revenue from the afore-mentioned subsidiary is not represented in the consolidated revenue of the Group as it is recorded as discontinued operations. This is still the case in H1 2024.
    (b)  Including Austria, Benelux, France, Germany, Ireland, Italy (excluding Mail), Switzerland, and the United Kingdom
    (c)  International includes the activities of Digital, Mail and Lockers outside of North America and the Main European countries

    Q2 2024 consolidated sales by Solution

    In € million Q2 2024 Q2 2023
    restated (a)    		 Change Organic change
    Digital 66 61 +8.1% +5.8%
    Mail 183 179 +2.4% (0.8)%
    Lockers 23 24 (3.2)% (1.8)%
    Group total 273 264 +3.3% +0.6%
    (a)   The full-year 2023 financial statements published in March 2024 reflected Quadient’s decision to review the future of its Mail activity in Italy with a view to divest this subsidiary within the next 12 months.
    As this was the case in the full-year 2023 statements, Q2 2023 revenue from the afore-mentioned subsidiary is not represented in the consolidated revenue of the Group as it is recorded as discontinued operations. This is still the case in Q2 2024.

    Q2 2024 consolidated sales by geography

    In € million Q2 2024 Q2 2023
    restated (a)    		 Change Organic
    change
    North America 157 150 +4.9% +3.2%
    Main European countries(b) 93 89 +4.2% (1.8)%
    International(c) 22 25 (10.1)% (5.8)%
    Group total 273 264 +3.3% +0.6%
    (a)  The full-year 2023 financial statements published in March 2024 reflected Quadient’s decision to review the future of its Mail activity in Italy with a view to divest this subsidiary within the next 12 months.
    As this was the case in the full-year 2023 statements, Q2 2023 revenue from the afore-mentioned subsidiary is not represented in the consolidated revenue of the Group as it is recorded as discontinued operations. This is still the case in Q2 2024.
    (b)  Including Austria, Benelux, France, Germany, Ireland, Italy (excluding Mail), Switzerland, and the United Kingdom
    (c)  International includes the activities of Digital, Mail and Lockers outside of North America and the Main European countries

    First half-year 2024

    Consolidated income statement

    In € million H1 2024
    (period ended
    on 31 July 2024)    		 H1 2023 restated
    (period ended
    on 31 July 2023)
    Sales 534 517
    Cost of sales (135) (131)
    Gross margin 399 387
    R&D expenses (31) (31)
    Sales and marketing expenses (143) (139)
    Administrative and general expenses (97) (90)
    Service and support expenses (58) (55)
    Employee profit-sharing, share-based payments and other expenses (5) (3)
    Acquisition-related expenses (4) (3)
    Current operating income 61 65
    Optimization expenses and other operating income & expenses (16) (6)
    Operating income 45 59
    Financial income/(expense) (21) (16)
    Income before taxes 24 43
    Income taxes 2 (6)
    Share of results of associated companies 0 (0)
    Net income from continued operations 26 37
    Net income of discontinued operations (1) (0)
    Net income 25 37
    Of which:

    • Minority interests
    		 1 1
    • Net attributable income
    		 24 36

    Simplified consolidated balance sheet

    Assets
    In € million    		 H1 2024
    (period ended
    on 31 July 2024)    		 FY 2023
    (period ended
    on 31 January 2024)
    Goodwill 1,089 1,082
    Intangible fixed assets 118 121
    Tangible fixed assets 158 156
    Other non-current financial assets 66 65
    Other non-current receivables 2 2
    Leasing receivables 591 598
    Deferred tax assets 47 17
    Inventories 71 67
    Receivables 193 228
    Other current assets 74 84
    Cash and cash equivalents 194 118
    Current financial instruments 2 2
    Assets held for sale 11 9
    TOTAL ASSETS 2,617 2,550
    Liabilities
    In € million    		 H1 2024
    (period ended
    on 31 July 2024)    		 FY 2023
    (period ended
    on 31 January 2024)
    Shareholders’ equity 1,064 1,069
    Non-current provisions 15 12
    Non-current financial debt 552 715
    Current financial debt 329 66
    Lease obligations 39 46
    Other non-current liabilities 4 2
    Deferred tax liabilities 119 104
    Financial instruments 4 5
    Trade payables 69 79
    Deferred income 190 212
    Other current liabilities 219 225
    Liabilities held for sale 13 15
    TOTAL LIABILITIES 2,617 2,550

    Simplified cash flow statement

     

    In €millions

    		 H1 2024
    (period ended
    on 31 July 2024)    		 H1 2023 restated
    (period ended
    on 31 July 2023)
    EBITDA 111 112
    Other elements (11) (7)
    Cash flow before net cost of debt and income tax 100 105
    Change in the working capital requirement (19) (55)
    Net change in leasing receivables 6 16
    Cash flow from operating activities 87 66
    Interest and tax paid (38) (35)
    Net cash flow from operating activities 49 31
    Capital expenditure (46) (46)
    Net cash flow after investing activities 3 (15)
    Impact of changes in scope (8) 0
    Others 0 (0)
    Net cash flow after acquisitions and divestments (5) (15)
    Dividends paid 0 (0)
    Change in debt and others 64 25
    Net cash flow from financing activities 64 25
    Cumulative translation adjustments on cash (0) (1)
    Net cash from discontinued operations 2 (1)
    Change in net cash position 60 10

    Figures exclude Mail Italian subsidiary which has been reclassified as discontinued operations in 2023.
    (1) H1 2024 sales are compared to H1 2023 sales, to which is added pro rata temporis the revenue of Daylight and Frama for a consolidated amount of €12 million. The currency impact is positive for €1 million.
    (2) Including IFRS 16
    (3) H1 2024 ARR impacted by a €0.2 million negative currency effect vs 31 January 2024
    (4) EBITDA = current operating income + provisions for depreciation of tangible and intangible fixed assets.
    (5) For the H1 2024, the average compounded number of shares is 33,950,930. Diluted number of shares is 34,487,900.
    (6) Net debt / shareholders’ equity
    (7) Subject to the renewal of the share buyback authorizations at the 2025 AGM
    (8) FY 2026 leverage ratio excluding leasing target of 1.5x

    Attachment

    The MIL Network –

    September 29, 2024

  • MIL-OSI USA: Durbin, Duckworth, Quigley, Announce More Than $300 Million In Federal Funding For Transportation Infrastructure Improvements In Chicago

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin
    09.20.24
    CHICAGO – U.S. Senate Majority Whip Dick Durbin (D-IL), U.S. Senator Tammy Duckworth (D-IL), and U.S. Representative Quigley (D-IL-05) today announced $305,467,517 in federal funding through the U.S. Department of Transportation (DOT) Mega Program. With this federal funding, the Illinois Department of Transportation will receive $209,877,984 for the Chicago Region Environmental and Transportation Efficiency (CREATE) Program and $95,589,533 for the I-290/IL171 (1st Avenue) Interchange Project. These projects will aim to reduce traffic delays, increase rail junction safety, and improve mobility throughout Chicago.
    DOT’s Mega Grant Program provides federal funding for large projects of regional significance and is funded through the Infrastructure Investment and Jobs Act that the lawmakers worked to pass.
    “Today’s funding is a major investment in the future of our transportation infrastructure.  Chicagoans will be better connected because of these two infrastructure projects, which will improve the safety and quality of our rail system and roadways,” said Durbin. “Senator Duckworth, members of the Illinois Congressional Delegation, and I have long supported these investments, and I’m glad to see these federal dollars go toward improving safety and alleviating congestion in a region that desperately needs it.”
    “Investing in our transportation infrastructure is about more than just improving our roads, bridges and rail lines, it’s about growing our economy and making getting to work, school and throughout our communities faster, safer and more efficient,” Duckworth said. “I’m proud to see this federal funding coming to our state today for two critically important projects Senator Durbin and I have been championing for years and with it improvements in these local communities, and an increase in good-paying jobs in our region and more.”
    “This funding announcement is critical to helping CREATE in their mission to improve rail operations in Chicago for both passengers and freight.  As the Ranking Member of the Transportation, Housing and Urban Development Appropriations Subcommittee, I have an in-depth understanding of the needs facing our freight, commuter, and intercity passenger rail,”said Quigley. “Luckily, the CREATE Program has stepped up to the task and broken ground on numerous rail improvement projects throughout the region. In May, I visited their Forest Hill Flyover site, where I witnessed firsthand the efficiency and safety improvements CREATE is making. From adjacent neighborhoods to the nation’s supply chain, I know that the benefits of this funding will extend far beyond Chicago’s city limits.”
    The CREATE Program brings together the City of Chicago, the State of Illinois, the U.S. Department of Transportation, Metra, Amtrak, and the nation’s freight railroads in a partnership to eliminate transit bottlenecks, boost the economy, and improve overall safety of the Chicagoland area.
    Today’s announced funding will advance the 75th Street Corridor Improvement Project, a three-mile elevated rail corridor on Chicago’s South Side, which approximately 90 freight trains and 30 Metra commuter trains use daily. The project will reconfigure track segments and signals at Belt Junction, add a third track to the Norfolk Southern line, replace and restore 14 aging bridge and viaduct structures, and implement mobility improvements on surface streets throughout the corridor. Durbin and Duckworth have long championed rail improvements, having helped secure $132 million in federal funding to begin this project in 2018.
    The I-290/IL 171 (1st Avenue) Interchange Project will reconstruct portions of I-290, reconstruct and upgrade the 1st Avenue interchange, and implement signalized interchanges at Van Buren Street and Maybrook Drive. It also will install a supplemental trunk sewer along I-290 and a frontage road sewer along Bataan Drive. This work aims to alleviate congestion and address flooding issues.
    -30-

    MIL OSI USA News –

    September 29, 2024

  • MIL-OSI USA: FEMA Celebrates Climate Week NYC, Officials Across the Agency Participate in Events, Promote FEMA’s Year of Resilience

    Source: US Federal Emergency Management Agency

    Headline: FEMA Celebrates Climate Week NYC, Officials Across the Agency Participate in Events, Promote FEMA’s Year of Resilience

    FEMA Celebrates Climate Week NYC, Officials Across the Agency Participate in Events, Promote FEMA’s Year of Resilience

    WASHINGTON – As extreme weather events caused by climate change continue to increase across the nation, FEMA Administrator Deanne Criswell, U.S. Fire Administrator Dr. Lori Moore-Merrell, FEMA Deputy Administrator for Resilience Victoria Salinas, and FEMA Regional Administrator Region 2 David Warrington will attend Climate Week NYC and lead FEMA’s largest contingent of FEMA officials to ever attend the annual gathering. During the week, FEMA officials will highlight FEMA’s Year of Resilience, host several engagements, and participate in Climate Week NYC Events. 

    FEMA Administrator Deanne Criswell will attend several events and address topics including extreme heat, climate risk, resilience, and how climate change is impacting the insurance market. Administrator Criswell will be a keynote speaker at the WSJ House, Bloomberg Sustainable Finance Forum, AON’s Resilience and Adaptation: Ensuring Economic Progress and Combating Climate Risk, and Global Citizen Addressing the Human Costs of Extreme Heat – Financing Measures to Safeguard Human Health at an International and National Level.

    As New York City hosts the 79th Session of the United Nations General Assembly in addition to Climate Week NYC, FEMA is proudly supporting efforts to ensure a safe event each year and is dedicated to ensuring a unified coordinated effort between Local, State, and Federal agencies throughout the greater New York City area throughout the week. 

    Kicking off Climate Week NYC this year, the U.S. Fire Administration will host a Fire Chiefs Roundtable: Climate Change Driven Risks, Response and Resilience: Fire Chiefs’ Perspective  to bring together officials to discuss the current wildfire situation and what it will take to get ahead of future wildfire ignitions and the devastating impacts of intensifying storms. The roundtable will build on discussions and information exchanges that occurred during the inaugural World Fire Congress convened by FEMA/USFA in Washington, D.C. in May 2024.

    FEMA will also host a Risk Communications Webinar, where presenters will share successful strategies to communicate risk and inspire preparedness action in the face of increasingly frequent hazards—an alarming consequence of climate change. 

    FEMA and the Environmental Protection Agency (EPA) are partnering for a full-day summit exploring resilient infrastructure challenges and innovative solutions through discussions on the recently published National Resilience Guidance, nature-based solutions, energy efficiency, net-zero energy, and sustainable disaster debris management. 

    The following events are open to the media: 

    Monday, September 23

    10:00 AM: U.S. Fire Administration to Host a Fire Chiefs Roundtable: Climate Change Driven Risks, Response and Resilience: Fire Chiefs’ Perspective (Virtual; In-Person Registration is Closed)

    What: The U.S. Fire Administration (USFA) will host an interactive roundtable discussion on climate change driven risks, response and resilience during Climate Week NYC. This interactive roundtable brings together fire chiefs and their government counterparts including U.S. Fire Administrator Dr. Lori Moore-Merrell, FEMA Associate Administrator for External Affairs Justin Ángel Knighten, FEMA Associate Deputy Administrator for Resilience Robin Keegan, FEMA Regional Administrator Region 2 David Warrington, Fire Chief Orange County Brian Fennessy, Fire Chief Los Angeles County Tony Marrone, Fire Chief Fairfax County John Butler, Fire and EMS Chief Washington, D.C. John Donnelly and acting Fire Chief New York City John Esposito. Discussion topics will include the current wildfire situation and what it will take to get ahead of future wildfire ignitions and the devastating impacts of intensifying storms. FEMA Region 2 will host the roundtable discussion including stakeholders from academia, nongovernmental organizations, U.S. and international government representatives and fire service leaders. The roundtable will build on discussions and information exchanges that occurred during the inaugural World Fire Congress convened by FEMA/USFA in Washington, D.C. in May 2024.

    2:30 PM: FEMA to Host National Webinar – Risk Communications (Virtual)

    What: Presenters will share successful strategies to communicate risk and inspire preparedness action in the face of increasingly frequent hazards—an alarming consequence of climate change. This event is a valuable opportunity for risk and crisis communicators, community leaders, emergency management professionals and stakeholders involved in disaster preparedness. Participants will learn strategies for creating awareness and activities that help communities plan for disasters and build resilience amid the climate crisis. Participants will have the opportunity to ask questions to support communications best practices related to developing and sharing critical preparedness messaging.

    Tuesday, September 24

    9:00 AM – 4:00 PM: FEMA and EPA to Host Event: Climate Resilient Infrastructure: Building a More Sustainable Future (Virtual and In-Person Registration Required)

    What: FEMA and the Environmental Protection Agency (EPA) are partnering for a full-day summit exploring resilient infrastructure challenges and innovative solutions through discussions on the recently published National Resilience Guidance, nature-based solutions, energy efficiency, net-zero energy and sustainable disaster debris management. Attendees will get to hear from FEMA and our public, private and academic partners on several topics including nature-based solutions, net-zero energy projects, energy efficiency efforts, the use of salvaged materials and how each of these fit into nationwide resilience strategy.

    Where:  Climate Week NYC: Climate Resilient Infrastructure: Building a More Sustainable Future.

    Register: Climate Resilient Infrastructure: Building a More Sustainable Future Tickets, Tue, Sep 24, 2024 at 9:00 AM.

    2:45 PM: FEMA Administrator Deanne Criswell to Speak at WSJ House 

    What: FEMA Administrator Speaks at Wall Street Journal Live on resilience.

    Where: Bryant Park Grill, 25 W 40th St, New York, NY 10018. 

    To register for this event, please contact WSJ Live.

    Wednesday, September 25

    9:20-10:00 AM: FEMA Administrator to speak at AON’s Resilience and Adaptation: Ensuring Economic Progress and Combating Climate Risk

    What:  FEMA Administrator Deanne Criswell will join a panel discussion on how the unprecedented risk environment has upended the traditional balance where insurance was the dependable safeguard enabling the flow of capital across the economy. Severe weather and a changing climate are rendering historically safe investments uninsurable, sending shockwaves through the financial systems and threatening the livelihoods and progress of institutions and individuals alike. This high-level dialogue will touch on the major challenges a lack of insurance access creates for the public and private sectors, what needs to be done and the potential for new paradigms to bring the system back into balance. 

    Where: Aon Corporate Headquarters, One Liberty Plaza (165 Broadway), New York, NY 10006.

    To register for this event, please contact Aon. 

    11:00 AM: FEMA Administrator to speak at Global Citizen Addressing the Human Costs of Extreme Heat – Financing Measures to Safeguard Human Health at an International and National Level 

    What: FEMA Administrator Deanne Criswell will join a panel discussion to discuss extreme heat. 

    Where: Guastavino’s located at 409 E 59th St, New York, NY 10022.

    To register for this event, please contact Global Citizen.

    Thursday, September 26

    1:30 PM-2:00 PM: FEMA Administrator Deanne Criswell will speak at Bloomberg’s Sustainable Finance Forum

    What: FEMA Administrator Deanne Criswell will headline the Bloomberg Sustainable Finance Forum at Bloomberg Headquarters for a fireside chat with Bloomberg Intelligence Director of ESG Research Eric Kane. 

    Where: 731 Lexington Ave, New York, NY 10022.

    To register for this event, please contact Bloomberg Sustainable Finance Forum.

    3:00 PM-4:00 PM: Climate Resiliency Fireside Chat with FEMA, NASA and NOAA (Virtual Registration Required)

    What: FEMA, NASA and NOAA will be discussing climate resiliency and the importance of forward-thinking programs that equip communities for the climate challenges of today and tomorrow. Panelists include FEMA Deputy Administrator for Resilience Victoria Salinas, NASA Chief Scientist Dr. Kate Calvin and NOAA Assistant Secretary of Commerce for Oceans and Atmosphere and Deputy Administrator Jainey Bavishi. This is a unique opportunity for community leaders and members from federal, state, local, tribal and territorial governments, nonprofits, the private sector and academia to connect with subject matter experts, share knowledge and deepen understanding of how to build resilient communities in the face of a changing climate.

    amy.ashbridge
    Mon, 09/23/2024 – 15:31

    MIL OSI USA News –

    September 29, 2024

  • MIL-OSI Video: InfraGard

    Source: Federal Bureau of Investigation (FBI) (video statements)

    Security is a shared responsibility between the American business community and law enforcement. InfraGard members discuss how the program strengthens the protection of critical infrastructure through partnership.

    To join, visit: https://www.infragard.org/Application/General/NewApplication

    —————————————————
    Follow us on social media:
    X: https://twitter.com/fbi
    Facebook: https://facebook.com/FBI
    Instagram: https://instagram.com/fbi
    YouTube: youtube.com/user/fbi

    https://www.youtube.com/watch?v=LBrk1QR3yB8

    MIL OSI Video –

    September 29, 2024

  • MIL-OSI USA: Creating Jobs In A Clean, Equitable, Resilient Economy

    Source: US State of New York

    September 23, 2024

    Albany, NY

    Governor Kathy Hochul today announced New York’s participation in the U.S. Climate Alliance’s Governors’ Climate-Ready Workforce Initiative to grow career pathways in climate and clean energy fields, strengthen workforce diversity, and jointly train 1 million new registered apprentices across the Alliance’s states and territories by 2035. Governor Hochul made the announcement today at a Climate Week NYC event, which also featured her Alliance Co-Chair New Mexico Governor Michelle Lujan Grisham, founding Alliance member Washington Governor Jay Inslee, and White House National Climate Advisor Ali Zaidi.

    “In New York, we’re showing how climate action and economic growth go hand-in-hand,” Governor Hochul said. “As a co-chair of the U.S. Climate Alliance, I’m proud to be collaborating with states, industry leaders, labor unions, higher education and community organizations to create the jobs of the future required to build a clean, equitable, and resilient economy. A skilled and well-prepared workforce will drive innovation, create new businesses, and ensure a sustainable, resilient future for our country.”

    “We need a climate-ready workforce — from EV technicians and heat pump installers to solar panel manufacturers — to meet our carbon reduction goals,” New Mexico Governor Michelle Lujan Grisham said. “The Executive Order I’m issuing today in conjunction with the Alliance’s new Workforce Initiative will help ensure that workers from all backgrounds have access to the skills and training needed for high-quality, climate-ready jobs across New Mexico.”

    “We’re aligning our ambitious climate policies with workforce development to have 1 million more workers poised to take these good-paying, union jobs that serve our communities and strengthen our economies,” Washington Governor Jay Inslee said. “These are economy-wide jobs, not just in clean energy but building trades, land management, clean technology and more. Climate Alliance states have a track record of meeting our ambitious goals and that momentum continues today.”

    [embedded content]

    [embedded content]

    Through the initiative, Governor Hochul and the bipartisan coalition of 23 other governors, representing approximately 60 percent of the U.S. economy and 55 percent of the U.S. population, will partner to strengthen and expand pathways into a wide variety of climate-ready professions that are critical to building a clean, equitable, and resilient net-zero future.

    The initiative goals are to:

    • Advance strategies to ensure climate-ready employment pathways lead to good-paying, high-quality jobs.
    • Prioritize equity in climate-ready workforce policies and programs to expand opportunities for all workers, particularly those from underrepresented communities.
    • Foster meaningful and inclusive collaboration across government, tribal nations and communities, workforce systems, labor unions, industry, community-based organizations and educational institutions.
    • Support innovative and evidence-based approaches to help workers enter and advance in climate-ready careers through a range of supportive services.
    • Promote the development and use of stackable, portable, and industry-recognized credentials in climate-ready fields to build transferable skills, support reskilling and upskilling, and strengthen workers’ economic mobility.
    • Encourage climate-focused workforce planning that is rooted in evidence and aligns with states’ existing workforce development and education systems.

    The initiative’s launch comes as historic federal investments, combined with ambitious state climate action, have unleashed a significant expansion of good-paying and union jobs in clean energy and clean technology fields—such as wind, solar, electric vehicles, energy efficiency, and batteries—with millions more anticipated in the coming years under the Biden-Harris administration’s Inflation Reduction Act and Infrastructure Investment and Jobs Act.

    In New York, we’re showing how climate action and economic growth go hand-in-hand.”

    Governor Kathy Hochul

    Governor Hochul Announces $2.3 million to Support Job Training for Offshore Wind Projects

    Building on the workforce initiative, Governor Hochul announced a $2.3 million award to support training for careers in offshore wind through the State’s Offshore Wind Training Institute (OWTI). The International Brotherhood of Electrical Workers (IBEW) Local Union 3 has been selected to develop and deliver training for offshore wind-related skills to 100 pre-apprentices and 430 journeypersons in New York City.

    This funding award, administered by the New York State Energy Research and Development Authority, will support offshore wind career awareness training as part of IBEW Local 3’s pre-apprenticeship and journeypersons training departments. Eighty of the 100 pre-apprentices will be placed in offshore wind related apprenticeship programs, and all 430 journeypersons will receive offshore wind-specific technical training, with six to be trained as instructors in offshore wind technical training.

    The training program will identify and include the knowledge and skills that are needed for electricians in all stages of offshore wind development, from preassembly through operation and maintenance.

    The funding builds on the nearly $11 million previously awarded through OWTI to other organizations supporting offshore wind related trainings. Programs supported included those at the New York City Union Iron Workers Locals 40 and 361, Capital Region BOCES, and eight different SUNY schools. The OWTI, along with NYSERDA, has built a network of academic, community, industry and labor alliances that will prepare up to 2,500 New Yorkers for careers in renewable-energy fields. OWTI is collaborating with the Renewable Energy and Sustainability Center at Farmingdale State College and the National Offshore Wind Research and Development Consortium at Stony Brook University that is supported by NYSERDA and the U.S. Department of Energy.

    Additionally, as part of the New York Power Authority’s commitment in the 2023-24 Enacted State Budget to support the efforts of the Office of Just Energy Transition in collaboration with the New York State Department of Labor (NYSDOL) and invest annually in workforce training efforts, the Power Authority has thus far committed more than $12 million to support clean energy industry workforce development initiatives around the state.

    In July, NYPA issued a Clean Energy Workforce Training (CEWT) RFP for qualified based training providers (such as technical high schools, community colleges, universities, trade associations, manufacturers, and others) who can collaborate to develop technical training opportunities, hands-on experience, paid internships and full-time jobs for people entering the clean energy workforce. At its upcoming Oct. 8 meeting, NYPA’s Board of Trustees will vote on awarding roughly $2 million to a number of projects that would create a diverse, equitable, and inclusive pipeline of skilled talent for the clean energy labor market with a focus on pathways for employment in the clean energy field for residents of disadvantaged communities in the vicinity of NYPA’s facilities across New York State.

    Read more information on the Governors’ Climate-Ready Workforce Initiative.

    White House National Climate Advisor Ali Zaidi said, “Under President Biden and Vice President Harris’s leadership, we are bringing down the barriers to economic opportunity, lowering costs for American families, and catalyzing a renaissance of American-made manufacturing that is creating jobs across America. In fact, just last year, we added over 250,000 new American energy jobs — with clean energy jobs growing twice as fast as the rest of the sector. Governors across America are at the forefront of our efforts to spur growth in union jobs, expand American energy production, and invest in the economic success of our communities. Today’s announcement will help capitalize on our momentum to create a climate-ready workforce that is rebuilding our nation’s infrastructure, communities, and industrial strength.”

    New York State Energy Research and Development Authority President and CEO Doreen M. Harris said, “Building a clean energy economy is no small feat, and that is why this newly announced Governors’ Climate-Ready Workforce Initiative is so critical. To succeed, our national and state workforces, need to be filled with expert technicians trained in the latest technologies. NYSERDA looks forward to continuing our support for workforce development and training programs through national partnerships like those being fostered by the U.S. Climate Alliance, and regional partnerships like the Offshore Wind Training Institute, as we grow New York’s industry in collaboration with other states.”

    New York Power Authority President and CEO Justin E. Driscoll said, “In alignment with the leadership of Governor Hochul’s and the U.S. Climate Alliance’s Governors’ Climate-Ready Workforce Initiative, the New York Power Authority’s workforce development programs are connecting New Yorkers with the skills and job training needed to power the state’s, and in turn the nation’s, clean energy future. NYPA’s investments in our own workforce, public-private workforce partnerships, and partnership with the Department of Labor are part our holistic approach to support the essential clean energy workforce and engage more New Yorkers in the clean energy economy.”

    Empire State Development President, CEO & Commissioner Hope Knight said, “New York State’s participation in the Governors’ Climate-Ready Workforce Initiative will further strengthen our efforts to train New Yorkers for high-quality jobs in green energy industries. Governor Hochul’s ongoing commitment to addressing climate change, with support from our federal and state agency partners, will grow the economy while creating a sustainable future.”

    New York State Department of Labor Commissioner Roberta Reardon said, “Pairing registered apprenticeship opportunities with our environmental sustainability efforts is a win-win for workers and employers. By developing registered apprenticeships in line with clean energy goals, New York State continues to strengthen local economies in the on-going transition to a low-carbon economy. I applaud Governor Hochul’s commitment to the U.S. Climate Alliance’s Governors’ Climate-Ready Workforce Initiative, allowing our combined efforts to reach beyond state borders to ensure a sustainable, enduring future for our country’s workforce.”

    BlueGreen Alliance Executive Director Jason Walsh said, “We’re excited to see governors stepping up to make sure we have the workforce needed to fill the good jobs that are being created by the Inflation Reduction Act, Bipartisan Infrastructure Law, and CHIPS and Science Act. There is a tremendous opportunity from those federal investments to rebuild our blue-collar middle class by creating pathways into skilled, long-term careers in sectors like construction and manufacturing. This commitment from governors across the country is good for workers, good for employers, and good for the high-road clean energy economy we’re building together.”

    National Skills Coalition Managing Director of State Strategies Melissa Johnson said, “State governments have a crucial role to play in leveraging historic federal investments to create unprecedented jobs and training opportunities for the workforce while fighting climate change. It is incredible that this coalition of governors is stepping up to prioritize the diversity and economic security of the climate workforce because our climate readiness hinges on a new generation of workers having access to the education, skills training, and economic supports they need to access good jobs and careers in this booming sector.”

    International Brotherhood of Electrical Workers Local Union No. 3 Business Manager Christopher Erikson said, “Today’s announcement on the “Climate-Ready Workforce Initiative” is a great step forward in continuing to prepare future members of the IBEW and unionized Building Trades for the green energy jobs of today and beyond. We welcome tomorrow’s apprentices from all walks of life into our ranks with open arms, ready to deliver world-class training and to prepare them for union careers with family-supporting wages and benefits. Thank you to Governor Hochul, the Biden-Harris administration, US Climate Alliance, and NYSERDA for addressing the climate crisis head-on and supporting the unionized green workforce.”

    MIL OSI USA News –

    September 29, 2024

  • MIL-OSI USA: Sorensen Announces $2.6 Million for Winnebago County Law Enforcement

    Source: United States House of Representatives – Congressman Eric Sorensen (IL-17)

    ROCKFORD, IL – As we approach the start of National Crime Prevention Month, Congressman Eric Sorensen (IL-17) is announcing $2,600,000 in resources for Winnebago County law enforcement to investigate domestic violence crimes and help families impacted by domestic violence. 

    “Just last month I met with local police officers in Northern Illinois, where they told me they needed more help from Washington to solve crimes and protect our neighbors,” said Sorensen.“This important funding will do just that, by providing our law enforcement agencies in Winnebago County with tools to properly investigate domestic violence crimes and support survivors when they need it most. I will always work to bring tax dollars back home to make sure Northern Illinois communities are safe for our neighbors.”   

    “Our office is thrilled to be a part of these grants,” said State’s Attorney J. Hanley. “It will allow us to expand upon the success we have had in holding abusers accountable and earning the trust of survivors.”  

    $1,500,000 will go to the Electronic Service Protection Order Court Pilot, which supports efforts to develop programs for serving protection orders through electronic communication methods. Moving to this method allows law enforcement to modernize the service process and make the process more efficient, provide for improved safety for survivors, and make protection orders enforceable as quickly as possible.  

    $600,000 will go to the Justice for Families Program to improve the response of the civil and criminal justice system to families with a history of domestic violence, dating violence, sexual assault, and stalking, or in cases involving allegations of child sexual abuse. Projects supported by the Justice for Families Program are those that focus on keeping survivors and their children safe from further abuse and holding offenders accountable. 

    $500,000 will go to The Enhancing Investigations and Prosecution of Domestic Violence, Dating Violence, Sexual Assault, and Stalking Program, which encourages law enforcement agencies and prosecutors to expand and improve their capacity to investigate and prosecute domestic violence, dating violence, sexual assault, and stalking, and in so doing, support survivor safety and autonomy, hold offenders accountable, and promote trust within the surrounding community. 

    Congressman Eric Sorensen serves on the House Committee on Agriculture and the House Committee on Science, Space, and Technology. Prior to serving in Congress, Sorensen was a local meteorologist in Rockford and the Quad Cities for nearly 20 years. His district includes Illinois’ Quad Cities, Rockford, Peoria, and Bloomington-Normal.

    ###

    MIL OSI USA News –

    September 29, 2024

  • MIL-OSI USA: During Climate Week, Markey, Badum, Merkley, Barragán Lead Over 100 International Lawmakers in Urging Biden Administration to Reject New LNG Exports

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey

    Letter Text (PDF)

    Washington (September 23, 2024) – Senator Edward J. Markey (D-Mass.), chair of the Environment and Public Works Subcommittee on Clean Air, Climate, and Nuclear Safety, today partnered with Representative Lisa Badum, group coordinator in the German Bundestag’s Climate and Energy Committee and chairwoman of the Subcommittee on International Climate and Energy Policy, Senator Jeff Merkley (D-Ore.), Representative Nanette Barragán (CA-44), Senate and House colleagues, and leaders from around the world in sending a letter to President Joe Biden and Secretary of Energy Jennifer Granholm, urging the administration to reject new liquefied natural gas (LNG) exports amidst the global climate crisis.

    The United States is already the world’s largest exporter of LNG and is on track to exponentially increase export capacity – a full build-out that could yield hundreds of million metric tons of additional greenhouse gases at home and abroad. Pushing back on arguments that United States’ international allies need the country’s LNG, members of the U.S. Congress and Parliaments around the world are requesting that the administration reject these applications. 

    In their letter to the administration, the lawmakers wrote, “Far from being a clean ‘bridge’ fuel, LNG causes significant environmental harm. In addition to the greenhouse gas released when LNG is burned, the potent greenhouse gas effects of pervasive methane leaks throughout the LNG supply chain — which extends from initial exploration all the way through gas production, pipeline transportation, liquefaction, vessel transportation, regasification, distribution, and end-use consumption — likely eliminate any climate advantage of reduced greenhouse gas emissions.”

    The lawmakers continued, “In addition to the environmental and health benefits, limiting U.S. LNG exports will actually support global energy security, not jeopardize it. In both emerging and developed markets, overinvestment in LNG diverts resources away from cheaper, more stable, and less trade-dependent clean energy investments.”

    In Europe:

    “While Europe’s energy system was strained in the immediate aftermath of Russia’s invasion of Ukraine in early 2022, it has since recovered. Europeans united to slash overall gas demand by 20 percent over the past two years. Gas prices are lower than before the start of the war, despite drastically lower supply from Russia.”

    In Asia:

    “China, the world’s largest LNG importer, has emerged as a major re-exporter within the region and globally, cashing in on lucrative price differentials that are facilitated by long-term agreements with the United States. Similarly, Japan, facing declining domestic demand and oversupply, is redirecting LNG trade volumes to emerging markets in South and Southeast Asia, bolstering profitable re-trading ventures.” Additionally, “South Korea, despite existing low terminal utilization and climate commitments, has invested significantly in expanding LNG infrastructure, highlighting a mismatch between capacity expansions and actual demand.”

    In Africa:

    “The expansion of LNG export infrastructure has sparked displacement, conflict, and environmental degradation, with many projects facing the risk of becoming stranded assets amid declining global demand. The African LNG export market parallels the United States in prioritizing foreign market interests over local needs amidst declining demand. U.S. participation in the LNG export market fuels this exploitative industry, undermining claims of leadership in a just global energy transition.”

    In the Americas:

    “Investments in new re-exporting infrastructure in Mexico will soon become stranded assets with poor financial viability, threatening the economic stability of the country for the benefit of short-term U.S. interests. Moreover, the export of U.S. LNG through Mexico also transfers environmental and climate justice burdens associated with LNG infrastructure, expanding the footprint of the industry’s harm to the country’s unique biodiversity and frontline communities in Mexico.”

    Cosigners in the U.S. include Senator Bernie Sanders (I-Vt.), and Representatives Jared Huffman (CA-02), Rashida Tlaib (MI-12), Jan Schakowsky (IL-09), Pramila Jayapal (WA-07), and Eleanor Holmes Norton (DC). Cosigners internationally include 30 Members of the Thailand Parliament, 15 Members of the European Parliament, 10 Members of the German Parliament, 3 Members of the United Kingdom Parliament, 2 Members of the Flemish Parliament, 2 Members of the National Assembly of the Gambia, 2 Members of the South Sudan Parliament, 2 Members of the Tanzanian Parliament the Australian Senator for Victoria, Brazilian State Deputy for Para, Canadian Senator for Quebec, the Deputy Prime Minister of Belgium, 1 former Member of the Sierra Leone Parliament, 1 former Member of the Catalan Parliament, 1 former Member of the Flemish Parliament, 1 Member of the Timor-Leste Parliament, Member of Parliament and Special Envoy on Climate Change and Environment from the Republic of Vanuatu, 1 Member of the Sierra Leone Parliament, 1 Member of Tasmania’s Legislative Council, 1 Member of the Australian Parliament, 1 Member of the Austrian Parliament, 1 Member of the Cambodian Parliament, 1 Member of the Cameroon National Assembly, 1 Member of the Colombian Congress, 1 Member of the Gambian Parliament, 1 Member of the Ghanaian Parliament, 1 Member of the Liberian House of Representatives, 1 Member of the Northern Ireland Assembly, 1 Member of the Scottish Parliament, 1 Member of the Swedish Parliament, 1 Member of the Swiss Parliament (National Council), 1 Member of the Tasmanian House of Assembly, 1 Member of the Ugandan Parliament, 1 Member of the UK House of Lords, and 1 Member of the Victorian Parliament in Australia on behalf of the Victorian Greens Members of Parliament.

    In July 2023, Senator Markey and several New England Senators sent a letter to the Department of Energy urging it to consider the disproportionate negative impacts of LNG on New England as the department considers updates to its underlying environmental and economic analyses to improve export authorization decisions for LNG. 

    In May 2024, Senator Markey and Representative Yvette Clarke (NY-09) announced the reintroduction of the Block All New (BAN) Fossil Fuel Exports Act, legislation that would amend the Energy Policy and Conservation Act and ban the export of American crude oil and natural gas abroad to protect frontline communities from dangerous export infrastructure, prioritize U.S. consumers against fossil fuel profiteering, and help ensure the United States meets its climate and clean energy commitments on the world stage.

    In March 2023, Senator Markey and Representatives Ayanna Pressley (MA-07) and Rashida Tlaib (MI-12) reintroduced the Fossil Free Finance Act, legislation that would direct the Federal Reserve to require major banks and other Systemically Important Financial Institutions (SIFIs) to stop financing projects and activities linked to increased greenhouse gas emissions and submit a plan on how they would meet these requirements. In October 2022, Senator Markey reintroduced the OPEC Accountability Act, legislation to require the U.S. President to initiate consultations with the Organization of the Petroleum Exporting Countries (OPEC) and some non-OPEC countries to reduce crude oil production.

    MIL OSI USA News –

    September 29, 2024

  • MIL-OSI Security: Florida Man Pleads Guilty to Attempting to Sexually Entice a Minor

    Source: US Department of Homeland Security

    OCALA, Fla. — A Florida man pleaded guilty to attempting to entice a minor to engage in sexual activity following a joint Homeland Security Investigations (HSI) Orlando investigation.

    Devin Joseph Rivera, 24, of Ocala, faces a minimum mandatory penalty of 10 years and up to life in federal prison. A sentencing date has not yet been set.

    According to the plea agreement, on July 24, Rivera communicated online within someone he believed was a 13-year-old girl. The child, however, was an undercover HSI Orlando special agent. Rivera engaged in a sexually explicit conversation with the undercover agent and, ultimately, was arrested when he traveled to a predetermined meeting location in Marion County to engage in sexual activity with the child. Rivera brought a blanket and condom with him.

    This case was investigated by HSI Orlando, the Marion County Sheriff’s Office, the Ocala Police Department, the Florida Department of Law Enforcement and the Chiefland Police Department. It is being prosecuted by Assistant U.S. Attorney Sarah Janette Swartzberg.

    To report any information about human trafficking, child sexual abuse, or the trafficking in child sexual abuse material contact the HSI Tip Line at 877-4-HSI-TIP or report it through the CyberTipline on the National Center for Missing & Exploited Children’s website.

    MIL Security OSI –

    September 29, 2024

  • MIL-OSI Security: Orlando Man Pleads Guilty to Enticement of a Minor, Production of Child Sexual Abuse Material

    Source: US Department of Homeland Security

    ORLANDO, Fla. — An Orlando man pleaded guilty to enticement of a minor to engage in sexual activity and production of child sexual abuse material following a Homeland Security Investigations (HSI) investigation.

    Theron Charles Lord, 36, faces a minimum mandatory penalty of 15 years and up to life in federal prison for the production offense and a minimum mandatory penalty of 10 years and up to life for the enticement offense. Lord has also agreed to forfeit the cellphone he used in the commission of the offense. A sentencing date has not yet been set.

    According to the plea agreement, Lord and a 15-year-old child victim met online and began messaging on social media platforms. The messages quickly became sexual in nature and spanned from March until August 2022. In April 2022, Lord drove to meet the victim for the first time and sexually abused the victim. Between April and November 2022, the victim and Lord met in person at least six times and sexual abuse occurred at each meeting. During these meetings, Lord recorded videos of the sexual abuse. Additionally, Lord caused the victim to record and send him specific videos of child sexual abuse.

    This case was investigated by HSI Orlando and the Rockledge Police Department. It is being prosecuted by Assistant U.S. Attorney Kaley Austin-Aronson.

    To report any information about human trafficking, child sexual abuse, or the trafficking in child sexual abuse material contact the HSI Tip Line at 877-4-HSI-TIP or report it through the CyberTipline on the National Center for Missing & Exploited Children’s website.

    MIL Security OSI –

    September 29, 2024

  • MIL-OSI: Quadient launches share buyback program for up to €30 million

    Source: GlobeNewswire (MIL-OSI)

    Quadient launches share buyback program for up to €30 million

    Paris, 23 September 2024

    Quadient S.A. (Euronext Paris: QDT), a global automation platform powering secure and sustainable business connections, today announces the launch of a share buyback program for a total consideration of up to €30 million (total purchase price excluding ancillary costs) to be executed on the market.

    This operation demonstrates i) Quadient’s confidence in the value creation potential of its new Elevate to 2030 strategic plan and its ability to reach its FY 2026 leverage ratio reduction target1 , ii) aims at improving total shareholders’ return and iii) is in line with the capital allocation policy of the Company, which aims at balancing:

    • investments into the business (notably Mail rented equipment, deployment of parcel locker networks, R&D efforts),
    • potential external growth operations while maintaining a flexible approach to the management of the business portfolio,
    • maintaining a healthy and efficient balance sheet, with a target for financial leverage ratio excluding leasing of 1.5x in 2026, and
    • attractive shareholder return, with a dividend policy based on a minimum 20% payout ratio and the use of excess cash for share buybacks.

    The share buyback program will be carried out under the authorization granted by the 2024 Annual General Meeting of shareholders held on 14 June 2024, and may be renewed or extended, up to a maximum of 10% of the total number of shares comprising the share capital of the Company as set out in the 19th resolution of the 2024 Annual General Meeting. Quadient intends to cancel the shares acquired through the share buyback program apart from a portion of up to €10 million, which will be dedicated to future equity-based long term incentive plans for employees and management, as set out in the 19th resolution of the 2024 Annual General Meeting.

    Quadient will publish an updated version of the description of the share buyback program (available on the Investor Relations website under the “Regulated information” section) describing these updated objectives. The Company will also publish updates on the program via weekly press releases posted on the Investor Relations website under the “Regulated information” section.

    Barring any unforeseeable circumstances, the shares will be purchased over an 18-month2 period ending in January 2026 at the latest.

    The buybacks will be carried out subject to market conditions and in compliance with applicable rules and regulations, including the Market Abuse Regulation 596/2014 and the European Commission Delegated Regulation (EU) 2016/1052. Quadient hereby confirms the absence of any agreement with any of its existing shareholders regarding their potential participation in the share buyback program.

    About Quadient®

    Quadient is a global automation platform provider powering secure and sustainable business connections through digital and physical channels. Quadient supports businesses of all sizes in their digital transformation and growth journey, unlocking operational efficiency and creating meaningful customer experiences. Listed in compartment B of Euronext Paris (QDT) and part of the CAC® Mid & Small and EnterNext® Tech 40 indices, Quadient shares are eligible for PEA-PME investing.

    For more information about Quadient, visit https://invest.quadient.com/en/

    Contacts

    1   FY 2026 leverage ratio excluding leasing target of 1.5x
    2 Subject to the renewal of the share buyback authorizations at the 2025 AGM

    Attachment

    The MIL Network –

    September 29, 2024

  • MIL-OSI: Amundi: Launch of the capital increase reserved for employees

    Source: GlobeNewswire (MIL-OSI)

    Amundi: Launch of the capital increase reserved for employees

    Amundi launches a capital increase reserved for employees (under the name We Share Amundi). This capital increase was initially decided on 6 February 2024 under the terms specified below.

    This offer reflects Amundi’s desire to involve employees not only in the Company’s development but also in the creation of economic value. This will strengthen the employees’ sense of belonging.

    The discount offered to employees will be 30%, as for the five previous capital increase reserved for employees.

    Eligible employees can subscribe to the offering between 23 September and 4 October 2024 included. The capital increase is scheduled for 31 October 2024 and the newly issued Amundi shares will be listed on Euronext Paris on 4 November 2024.

    As a reminder, employees currently own 1.41 % of Amundi’s share capital.

    The impact of this offering on the net earnings per share should be negligible. The maximum number of Amundi shares to be issued will be capped at 1,000,000 shares (i.e. less than 0.5% of the Company’s share capital and voting rights).

    Terms of the capital increase

    Issuer

    Amundi, a French limited company (société anonyme) with share capital of €511.619.085 and with its offices located at 91-93, Boulevard Pasteur, 75015 Paris, France, registered with the Paris Trade and Companies Registry under number 314 222 902 (the “Company”).

    Securities offered

    The offering is a capital increase in cash reserved for employees, employees who have taken early retirement and retired employees of Amundi Group companies that are members of the UES Amundi Company Savings Plan (“PEE”) or Amundi’s International Group Savings Plan (“PEGI”). The capital increase will be carried out pursuant to Resolution 24 of the Annual General Meeting of 12 May 2023, without preferential shareholder subscription rights.

    The capital increase will be capped at 1,000,000 shares with a par value of €2.50 per share. The newly issued shares will be fully assimilated to existing ordinary shares.

    Amundi will request that the newly issued shares under the offering be admitted for trading on Euronext Paris as soon as possible after the capital increase is completed, currently scheduled for 31 October 2024. These shares will be listed on the same line as the existing shares, under ISIN code FR0004125920.

    Terms of the 2024 offering

    We Share Amundi is being made available to employees in France and Amundi Group entities in the following countries: Austria, Czech Republic, Germany, Hong Kong, Ireland, Italy, Japan, Luxembourg, Malaysia, Singapore, Spain, Taiwan, United Kingdom and United States.

    Employees of companies that are members of the PEE or PEGI, with at least three months of employment, whether consecutive or not, between 1 January 2023 and the last day of the subscription period, as well as retired employees in France that have kept assets in the PEE, are eligible to the 2023 offering.

    The subscription price is set at 47.00 euros. This subscription price is the average of the share opening price over the 20 trading days between 23 August and 19 September 2024 (included), minus a 30% discount.

    Eligible employees can subscribe to the offering between 23 September 2024 and 4 October 2024 included. Shares can be subscribed to via the FCPE (Employment Shareholding Fund) AMUNDI ACTIONNARIAT      RELAIS 2024 or FCPE AMUNDI SHARES RELAIS 2024, with the exception of certain countries where shares will be subscribed to directly. Once the capital increase is completed, and following decisions by the funds’ Supervisory Boards and the approval of the French Autorité des Marchés Financiers (AMF), the FCPE AMUNDI ACTIONNARIAT RELAIS 2024 will be merged into the FCPE AMUNDI ACTIONNARIAT, and the FCPE AMUNDI SHARES RELAIS 2024 will be merged into the FCPE AMUNDI SHARES.

    The voting rights attached to the shares held via the Funds will be exercised by the Fund’s Supervisory Board. The voting rights attached to the directly-held shares will be exercised by the subscribers.

    The shares subscribed to under We Share Amundi will be subject to a five-year lock-up period, unless an early-exit event occurs as described in the PEE or PEGI plan rules. Early-exit events will be adjusted where applicable for certain countries.

    An employee can invest up to a maximum of €40,000. This cap is assessed on all the employee shareholding operations of the Crédit Agricole group in which Amundi employees could participate in 2024. Employees may finance their subscription by making voluntary contributions to the plans, up to the annual cap on investments in employee savings plans which is set at 25% of their gross annual compensation. Members of the UES Amundi PEE are also entitled to use their     assets held in another specific fund of the PEE.

    Should subscription requests exceed the maximum number of shares available under the offering, the smallest subscriptions will be fully honoured while the highest subscriptions will be subject to successive caps until all available shares are subscribed. In France, any cap on subscriptions will first be applied to portions of subscriptions financed by voluntary contributions, then on the subscriptions financed by the transfer of available assets held in another specific fund of the PEE, and finally on the subscriptions financed by the transfer of unavailable assets held in another specific fund of the PEE.

    Disclaimer

    This press release is for information only and is not a solicitation to subscribe to Amundi shares.

    We Share Amundi is strictly reserved to the eligible employees mentioned in this release and shall only be available in countries where such an offer has been registered with the competent local authorities, or the latter has been notified thereof, and/or following the approval of a prospectus by the competent local authorities, or if an exemption has been granted from the obligation to publish a prospectus or to register the offering with the authorities, or to notify the latter thereof.

    More generally, We Share Amundi will only be available in countries where all required registration and/or notification procedures have been completed and the necessary authorizations obtained.

    Contact

    For any questions about We Share Amundi, eligible employees may contact their Head of Human Resources or visit the following website: www.weshare.amundi.com

    ***

    About Amundi

    Amundi, the leading European asset manager, ranking among the top 10 global players1, offers its 100 million clients – retail, institutional and corporate – a complete range of savings and investment solutions in active and passive management, in traditional or real assets. This offering is enhanced with IT tools and services to cover the entire savings value chain. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages more than €2.15 trillion of assets2.

    With its six international investment hubs3, financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.

    Amundi clients benefit from the expertise and advice of 5,500 employees in 35 countries.

    Amundi, a trusted partner, working every day in the interest of its clients and society

    www.amundi.com    

    Press contacts:        
    Natacha Andermahr 
    Tel. +33 1 76 37 86 05
    natacha.andermahr@amundi.com 

    Corentin Henry
    Tel. +33 1 76 36 26 96
    corentin.henry@amundi.com

    Investor contacts:
    Cyril Meilland, CFA
    Tel. +33 1 76 32 62 67
    cyril.meilland@amundi.com 

    Thomas Lapeyre
    Tel. +33 1 76 33 70 54
    thomas.lapeyre@amundi.com 

    Annabelle Wiriath

    Tel. + 33 1 76 32 43 92

    annabelle.wiriath@amundi.com

    1Source: IPE “Top 500 Asset Managers” published in June 2023, based on assets under management as at 31/12/2022
    2Amundi data as at 31/12/2023
    3Boston, Dublin, London, Milan, Paris and Tokyo

    Attachment

    • Amundi 2024 – PR EN – Launch of the capital increase reserved for employees_

    The MIL Network –

    September 29, 2024

  • MIL-OSI: Solutions30 announces the strategic acquisition of Xperal

    Source: GlobeNewswire (MIL-OSI)

    Solutions30 announces the acquisition of Xperal, a leading company specialized in end-to-end B2B solar projects in the Netherlands and Germany.

    Based in the Netherlands, Xperal is renowned for its comprehensive services in the solar energy sector, including design, engineering, procurement, commissioning, and maintenance. In 2023, the company achieved revenues of 15 million euros, demonstrating its strong market position and growth potential.

    This acquisition aligns with the Group strategic goal to expand its services into the Benelux region and increase its market share. Through this operation, the company will be able to, first, offer a broader range of services and, second, strengthen its position as a leading provider of sustainable energy solutions.

    “The acquisition of Xperal represents a significant milestone for Solutions30 by allowing us to extend our Energy Transition services in the Benelux region and Germany.” Says Luc Brusselaers, Chief Revenue Officer at Solutions30. “By integrating Xperal’s expertise in solar projects, we are now positioned to offer a complete portfolio of energy services, including smart metering, electric vehicle charging (EVC), power grid management, photovoltaic (PV) systems, and energy storage solutions.”

    More generally, this latest acquisition marks Solutions30’s ambition to accelerate the development of sustainable energy services and infrastructures for businesses and local authorities. It demonstrates its determination to offer a complete range of services across the entire value chain, as well as the latest technologies available.

    “This partnership with Solutions30 marks a new chapter for Xperal” comments Jaimie Louwers, Co-founder of Xperal. “This integration enables us to expand our geographical reach into the Benelux area, giving us access to new markets and opportunities. With Solutions30’s extensive resources and network, we are able to accelerate our growth and secure larger deals.”

    For further information please read the Xperal website: https://www.xperal.com/

    About Solutions30 SE

    The Solutions30 group is the European leader in solutions for new technologies. Its mission is to make the technological developments that are transforming our daily lives accessible to everyone, individuals and businesses alike. Yesterday, it was computers and the Internet. Today, it’s digital technology. Tomorrow, it will be technologies that make the world even more interconnected in real time. With more than 50 million call-outs carried out since it was founded and a network of more than 15,000 local technicians, Solutions30 currently covers all of France, Italy, Germany, the Netherlands, Belgium, Luxembourg, the Iberian Peninsula, the United Kingdom, and Poland. The share capital of Solutions 30 SE consists of 107,127,984 shares, equal to the number of theoretical votes that can be exercised.
    Solutions30 SE is listed on the Euronext Paris exchange (ISIN FR0013379484- code S30). Indexes: CAC Mid & Small | CAC Small | CAC Technology | Euro Stoxx Total Market Technology | Euronext Tech Croissance.
    Visit our website for more information: www.solutions30.com

    About Xperal

    Xperal acquisition includes Louwers Beheer B.V. and its subsidiaries: XPERAL B.V, Astra Solar B.V., Louwers Installatie B.V., Solar Benelux B.V., and Louwers Onroerend Goed B.V. Visit the website for more information: https://www.xperal.com.

    Contact

    Individual Shareholders:
    Tel: +33 1 86 86 00 63 – shareholders@solutions30.com

    Investor relations
    Investor.relations@solutions30.com

    Press – Image 7:
    Charlotte Le Barbier – Tel: +33 6 78 37 27 60 – clebarbier@image7.fr

    Attachment

    • Xperal_S30_PR_2024-09-23 ENG

    The MIL Network –

    September 29, 2024

  • MIL-OSI: Societe Generale: Capital reduction by cancellation of treasury shares

    Source: GlobeNewswire (MIL-OSI)

    CAPITAL REDUCTION BY CANCELLATION OF TREASURY SHARES

    Regulated Information

    Paris, 23 September 2024

    Meeting on September 19, 2024, the Board of Directors, with the authorization of the Extraordinary General Meeting of May 22, 2024, decided to reduce, on September 23, 2024, the share capital of Societe Generale by cancellation of 11,718,771 treasury shares. These shares were repurchased from May 27 to June 17, 2024 included.

    From now on, the share capital of Societe Generale amounts to 1,000,395,971.25 euros, divided into 800,316,777 ordinary shares, each with an unchanged nominal value of 1.25 euros.

    Information regarding total amount of voting rights and shares will be updated and available in the following section “Monthly reports on total amount of voting rights and shares”:
    Regulated information and other important information.

    Press contacts:
    Jean-Baptiste Froville_+33 1 58 98 68 00_ jean-baptiste.froville@socgen.com
    Fanny Rouby_+33 1 57 29 11 12_ fanny.rouby@socgen.com

    Societe Generale

    Societe Generale is a top tier European Bank with more than 126,000 employees serving about 25 million clients in 65 countries across the world. We have been supporting the development of our economies for 160 years, providing our corporate, institutional, and individual clients with a wide array of value-added advisory and financial solutions. Our long-lasting and trusted relationships with the clients, our cutting-edge expertise, our unique innovation, our ESG capabilities and leading franchises are part of our DNA and serve our most essential objective – to deliver sustainable value creation for all our stakeholders.

    The Group runs three complementary sets of businesses, embedding ESG offerings for all its clients:

    • French Retail, Private Banking and Insurance, with leading retail bank SG and insurance franchise, premium private banking services, and the leading digital bank BoursoBank.
    • Global Banking and Investor Solutions, a top tier wholesale bank offering tailored-made solutions with distinctive global leadership in equity derivatives, structured finance and ESG.
    • Mobility, International Retail Banking and Financial Services, comprising well-established universal banks (in Czech Republic, Romania and several African countries), Ayvens (the new ALD I LeasePlan brand), a global player in sustainable mobility, as well as specialized financing activities.

    Committed to building together with its clients a better and sustainable future, Societe Generale aims to be a leading partner in the environmental transition and sustainability overall. The Group is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).

    In case of doubt regarding the authenticity of this press release, please go to the end of the Group News page on societegenerale.com website where official Press Releases sent by Societe Generale can be certified using blockchain technology. A link will allow you to check the document’s legitimacy directly on the web page.

    For more information, you can follow us on Twitter/X @societegenerale or visit our website societegenerale.com.

    Attachment

    • Societe-Generale-Capital-Decrease-23092024

    The MIL Network –

    September 29, 2024

  • MIL-OSI USA: Secret Service is Slow-Walking Investigation

    US Senate News:

    Source: United States Senator for Wisconsin Ron Johnson

    In the week since the second assassination attempt on former President Donald Trump, we still have far more questions than answers about both events.Two attempts in a little over 60 days is horrendous and unacceptable.
    There’s just basic information we should have right now, and we don’t have it. Regarding the July 13 assassination attempt against President Trump, the Secret Service and FBI fail to provide unredacted documents and they are slow-walking witnesses to Congress. Subpoenas must be issued to compel compliance.
    The Secret Service’s budget has increased 65% over the past decade. They don’t lack resources, they simply lack good management. 
    READ Fox News: Sen. Ron Johnson describes ‘heavily redacted’ documents provided to lawmakers
    WATCH Real America’s Voice: Sen. Johnson talks about upcoming preliminary report on July 13 assassination attempt. 
    LISTEN to Clay & Buck Show: Why we cannot trust the FBI to investigate the Trump assassination attempts.
    WATCH Jesse Waters Show: Subpoenas must be issued to compel compliance.
    SAVE Act for Election Integrity

    I’m a co-sponsor of the SAVE Act (Safeguard American Voter Eligibility) because it should be obvious to everyone — even Democrats — that we should prevent illegal immigrants from voting. 
    Unfortunately most Democrats in Congress don’t agree. This legislation aims to secure our elections by requiring proof of citizenship to vote.
    This op-ed I wrote for The Federalist outlines why the SAVE Act is important. 
    READ: Democrat-Controlled States Refuse To Clean Voter Rolls And Fix Election Problem
    Why is Social Security in Trouble? 

    During the Senate Finance Committee on September 12, I talked about why Social Security is in trouble.
    Here are the issues I raised in my questioning. Since the inception of Social Security: 
    — Life expectancy increased 16 years,— Worker-to-beneficiary ratio fell from 30+:1 to 2.7:1, and— Government spent the money instead of properly investing it.
    Only taxing the “wealthy” won’t solve the problem — it will hurt economic growth and make things worse.
    Tune in Monday!

    On Monday, September 23 at 2pm ET,  I will lead a roundtable discussion titled, “American Health and Nutrition: A Second Opinion.” A panel of experts will provide a foundational and historical understanding of the changes that have occurred over the last century within public sanitation, agriculture, food processing, and healthcare industries which impact the current state of national health.
    Watch Monday’s livestream on the Senator Ron Johnson Rumble channel.
    Angels in Adoption

    I had the honor to congratulate Scott and Dawn Ripkey from Fontana, Wisconsin for being this year’s Angels in Adoption honorees representing our state. 
    Each year, the Congressional Coalition on Adoption Institute selects individuals, families or organizations across the nation who have demonstrated a commitment to improving the lives of children in need of permanent, loving homes. As past co-presidents of the Gift of Adoption Wisconsin chapter, the Ripkeys grew the organization in size and reach, helping make the dream of a family a reality for many more children.
    If you know someone who should be nominated for this award next year, please email my office. 

    MIL OSI USA News –

    September 29, 2024

  • MIL-OSI USA News: Remarks by National Economic Advisor Lael Brainard on Sustaining American Auto  Leadership

    Source: The White House

    Detroit Economic Club, Detroit, Michigan

    As Prepared for Delivery

    Thank you to the Detroit Economic Club for hosting me today. It is a pleasure to be back in the Motor City where I had a great time working on autos in one of my first jobs. 

    I want to thank Governor Whitmer for her important partnership, along with Mayor Duggan, County Executive Evans, Senators Stabenow and Peters, and Representatives Dingell, Stevens, Tlaib, Thanedar, and many others.

    The President and Vice President are determined that America’s iconic automakers and autoworkers are positioned to win the future. Our auto strategy is designed to invest in America’s world class autos supply chain from end to end; take tough, targeted enforcement actions against China’s unfair practices; and invest in America’s best-in-class autos workforce. 

    Today, I am pleased to announce two important new steps to advance our autos strategy. We are proposing a first-of-its-kind rule to safeguard America from the risks posed by connected vehicles from China. And we are building out the Michigan Workforce Hub to give workers the skills they need to contribute to this dynamic sector and expanding access to capital for small- and medium-sized auto manufacturers.

    The American Auto Sector

    The auto sector is an iconic American industry and our largest manufacturing sector. Over 3.2 million Americans work in the auto industry, and one third of those are in manufacturing jobs. The auto sector creates good-paying, union jobs that provide a ladder to the middle class, a sense of community, and the opportunity to work and retire with dignity.

    Nowhere is that more evident than right here in the proud city of Detroit and the great state of Michigan.

    While it wasn’t born here, America quickly made the auto industry our own. Here in Detroit, Henry Ford revolutionized transportation by mass producing a car for the common man. By 1930, the Big 3 had come to dominate global auto sales. The legendary Flint sit-down strike in 1936 gave rise to the United Autoworkers, and by 1941, hundreds of thousands of UAW members had good-paying, middle class jobs and pensions at the Big 3. During World War II, the auto industry became the center of the Arsenal of Democracy, churning out bombers, tanks, and engines by the thousands.

    When the Global Financial Crisis hit our auto sector hard, President Obama and then-Vice President Biden came to the rescue of the Big 3 and Detroit. UAW members made difficult sacrifices to get the industry back on its feet.

    Just a decade later, the pandemic brought new challenges. Decades of offshoring had left our supply chains fragile, and shutdowns of semiconductor factories in Asia and shipping disruptions led to layoffs on shop floors here and unfinished vehicles piling up in parking lots.
    Our automakers and autoworkers are no stranger to a tough fight. And this Administration has always stood with them.

    We worked tirelessly with business and labor to move semiconductors to auto plants and repair snarled transportation and logistics networks. These actions and our recovery plan enabled U.S. auto production to rebound three times faster than Europe. During this Administration, the U.S. auto industry has created more than 275,000 new jobs – in contrast to the loss of 86,000 auto jobs under the previous administration.

    Now our automakers and autoworkers face another seismic shift – the growing presence of clean vehicles, the rise of connected cars, and a wave of underpriced Chinese auto exports hitting global markets due to Chinese overcapacity.

    Investing in America’s Auto Supply Chain

    The President and Vice President have a comprehensive strategy to position the American auto sector to win the future.

    First — we are investing in America’s auto supply chain from end to end to make sure American autos remain best in class. That means investing in every stage, from small suppliers to final assembly, and using every tool at our disposal, from grants and loans to tax credits. This investment approach deploys demand- and supply-side incentives, from removing barriers to providing upfront consumer rebates to bolstering our domestic supply chains.

    Through the Bipartisan Infrastructure Law, we are building a nationwide network of EV charging stations and building a domestic supply chain for batteries and critical minerals. Just last week, we announced $3 billion in selections for projects through the Battery Supply Chain Awards, including several projects in Michigan, to boost domestic production of advanced batteries, funding the expansion and construction of new facilities for critical minerals, battery components, battery manufacturing, and recycling.

    Through the CHIPS and Science Act, we are supporting dedicated investments for the legacy chips that power cars and the advanced chips and materials that enable electric vehicles to drive further and charge faster.

    Through the clean energy incentives in the Inflation Reduction Act, we are providing families with an up-front rebate of up to $7,500 when they choose to buy a U.S.-made electric vehicle with U.S. batteries and materials. The Department of Energy’s Domestic Automotive Manufacturing Conversion Grant Program is providing $1.7 billion of federal investment that is leveraging $5 billion in total investment to help retool 11 auto plants across eight states to produce electric vehicles and electric vehicle (EV) components while protecting good jobs and union jobs. Michigan is receiving $650 million of federal investment from this one program alone.

    These incentives have already driven historic investment totaling more than $177 billion in the EV supply chain, including in the battery supply chain that China dominates. They are supporting investments that are projected to transform the United States into a major lithium producer by the end of the decade and that are now projected to produce batteries to meet all forecasted U.S. demand for EVs by 2030.

    Protecting American Autos from Unfair Competition

    Second — we are taking tough, targeted action to protect our auto sector from security risks and to ensure China does not unfairly undercut our auto sector. Americans should drive whatever car they choose – gas powered, hybrid, or electric. But, if they choose to drive an EV, we want it to be made in America, not in China.

    In order for companies to invest in innovative new designs and models here in America, they need to be assured that their investments won’t be undercut by unfairly underpriced cars from China. And in order for consumers to be safe and secure in increasingly connected cars on American roads, we need to guard against national security risks from China.

    China is flooding global markets with a wave of auto exports at a time when they are experiencing overcapacity. We have seen this playbook before in the China shock of the early 2000s that harmed our manufacturing communities. We saw it in Michigan – according to one analysis, the Detroit metro area lost more than 55,000 manufacturing jobs due to import competition from China. We are seeing that same playbook in EVs and batteries after a period when China compelled American automakers to form joint ventures and license their technology in China.

    The Administration is determined to avoid a second China shock, which means putting safeguards in place before a flood of underpriced Chinese autos undercuts the ability of the U.S. auto sector to compete on the global stage. That’s why this Administration imposed a new 100% tariff on EVs imported from China. It’s why we increased tariffs on China to diversify the autos supply chain, including on EV batteries, legacy semiconductors, and critical minerals.

    Many of our allies, including Canada and the European Union, have followed our lead. Moving forward, we will partner with Mexico and Canada to ensure that our North American supply chains remain free from state-owned enterprises and foreign entities of concern. China’s overcapacity in EVs will be a major area of focus as we look to the U.S.-Mexico-Canada trade agreement mid-term review in 2026.

    And today, we are taking action to guard against safety and security risks in connected cars and ensure that our auto supply chains are resilient from foreign threats. Connected cars have the ability to exchange data with other cars, your personal devices, America’s infrastructure, our power grid, and auto manufacturers. The computer systems that power these cars can control vehicle movement and collect sensitive driver and passenger data, and the cameras and sensors embedded within them can record detailed information about our country and citizens.

    There are many benefits associated with connected vehicle systems, such as promoting safety, assisting drivers with navigation, and reducing emissions. But where we source these technologies has important implications for our national security, safety on our roads, and the resilience of our auto supply chains.

    China has taken steps to dominate the future of connected vehicles by dominating the software and hardware systems associated with those cars. But connected vehicles with Chinese software and hardware systems could expose the American people to new risks. Without the appropriate safeguards in place, sensitive data on Americans could be passed to Chinese authorities, or connected vehicles might provide a backdoor for malicious foreign actors to engage in espionage or sabotage.

    That is why, today, the Department of Commerce is using its ICTS (Information and Communications Technology Services) authorities for the first time to propose a new rule that would ban vehicles that rely on Chinese software and hardware from driving on American roads.

    Recall that for years China has required vehicle and battery makers to rely on Chinese data centers and software providers as a condition of operating in China.

    In effect, this rule will protect against potential vulnerabilities while allowing Americans to benefit from all that connected vehicles and technological innovation have to offer. 

    Investing in America’s Auto Workforce and Small Suppliers

    Third — we are investing in the autoworkers and small suppliers that are the backbone of our auto sector. We want to ensure that the next generation of leading American autos is produced by union autoworkers and that no auto community is left behind, especially here in Michigan.

    Today, we are unveiling new resources for workers through the new Michigan Workforce Hub. This spring, the President designated Michigan as a Workforce Hub to help Michigan workers prepare for the good jobs created by historic investments in the EV supply chain. The Workforce Hub, which we’ve developed in partnership with the Michigan Department of Labor and Economic Opportunity, will expand pathways to EV and battery manufacturing jobs and union jobs, particularly for underserved communities in the state.

    Today, the Department of Labor and the Michigan Department of Labor and Economic Opportunity are announcing a new pilot program to train workers in Wayne County for over 140 high-quality jobs in the auto supply chain, partnering with local automotive employers to enable workers to earn a paycheck while they train, addressing a major barrier to enrollment.

    In addition, the Department of Energy’s Battery Workforce Challenge Program is announcing over $1 million to fund curriculum, equipment, internships, and job placements in community colleges, high-schools, and training institutions across the state. Henry Ford Community College, for example, will receive $200,000 in seed funding to establish a state-of-the-art Battery and Electric Vehicle Technical Center. Key partners in these programs will include the Michigan Economic Development Corporation, high schools, vocational institutions, community colleges and universities, and battery and automotive manufacturers.

    Through our Good Jobs Executive Order, we’re ensuring the benefits of federal grants and investments accrue to workers and communities. For instance, the projects receiving Domestic Conversion Grants will create nearly 3,000 new good-paying auto jobs and retain 15,000 high skilled, union jobs. As a condition for these grants, manufacturers committed to supporting their local communities and workforce. By supporting strong investments, we also support pathways to the middle class, including through union jobs.

    For instance, Blue Bird pledged to expand training programs in local high schools and invest in childcare for working parents at its facilities. And ZF North America is using their Conversion grant to retain and retrain 536 workers – mostly UAW workers – at its facility in Marysville, Michigan, for the production of components to electrify vehicles.

    Last year, the UAW secured record contracts with the Big 3 that will help ensure an equitable transition to electric vehicles. Since then, we have seen a large number of additional automakers announce record wages, and a rise in new labor organizing. From Tennessee to Georgia, and in new battery plants in Ohio and Michigan, workers in the EV supply chain are seeing the benefits of joining a union.

    Our auto workforce also includes hundreds of small and medium-size suppliers manufacturing products ranging from screws and bolts to e-axles. The U.S. economy has added more than 55,000 jobs in manufacturing automobile parts and bodies during this Administration. Many are based here in Michigan: in fact, 96 of the top 100 auto suppliers in North America do business in Michigan and 60 are headquartered here.

    This summer, Vice President Harris came here to Detroit to announce more than $100 million from across the federal government to support small- and mid-sized suppliers and parts manufacturers. That includes. millions of dollars we set aside from the manufacturing conversion grants program for states to make awards to small- and medium-sized suppliers because we heard from officials and suppliers right here in Michigan that smaller manufacturers struggle to tap into large federal grant programs directly.

    Today, we are building on the Vice President’s announcement with additional actions to support capital access for small- and medium-sized suppliers. This includes a commitment from Monroe Capital to launch a new fund of up to $1 billion to provide lower-cost debt capital to auto manufacturers, as well as a $9.1 million grant from the Department of Treasury to launch the Michigan Auto Supplier Transition Program, which will help small and underserved automotive manufacturers and aftermarket suppliers secure financing to scale and shift to supply the EV supply chain.
    Conclusion

    Our economic resilience and national security have been tied to the strength of our auto sector for the past century. Now it is critical the U.S. auto sector is positioned to lead the 21st century.

    We believe that an investment in our auto supply chain – especially here in Michigan – is one of the best investments we can make. That’s why we are investing across the supply chain and strengthening our suppliers, small businesses, workers, and communities that are the lifeblood of the industry.

    Today’s announcements underscore our commitment to auto communities, union jobs, and to the competitiveness and safety of the U.S. auto sector. It is part of a comprehensive approach that is forward looking and leverages the strengths of American manufacturing and the talents of American automakers – here in Detroit, throughout Michigan, and across the country.

    ###

    MIL OSI USA News –

    September 29, 2024

  • MIL-OSI: Independent Bank Corporation Announces Date for Its Third Quarter 2024 Earnings Release

    Source: GlobeNewswire (MIL-OSI)

    GRAND RAPIDS, Mich., Sept. 23, 2024 (GLOBE NEWSWIRE) — Independent Bank Corporation (NASDAQ: IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that it expects to issue its 2024 third quarter results on Thursday, October 24, 2024, at approximately 8:00 am ET. The release will be available on the Internet at IndependentBank.com within the “News” section of the “Investor Relations” area of the Company’s website.

    Brad Kessel, President and CEO, Gavin Mohr, CFO and Joel Rahn, EVP Commercial Banking will review the quarterly results in a conference call for investors and analysts beginning at 11:00 am ET on Thursday, October 24, 2024.

    To participate in the live conference call, please dial 1-833-470-1428 (Access Code # 957797). Also the conference call will be accessible through an audio webcast with user-controlled slides via the following event site/URL: https://events.q4inc.com/attendee/824908063.

    A playback of the call can be accessed by dialing 1-866-813-9403 (Access Code # 159381). The replay will be available through October 31, 2024.

    About Independent Bank Corporation

    Independent Bank Corporation (NASDAQ: IBCP) is a Michigan-based bank holding company with total assets of approximately $5.3 billion. Founded as First National Bank of Ionia in 1864, Independent Bank Corporation operates a branch network across Michigan’s Lower Peninsula through one state-chartered bank subsidiary. This subsidiary (Independent Bank) provides a full range of financial services, including commercial banking, mortgage lending, investments, insurance and title services. Independent Bank Corporation is committed to providing exceptional personal service and value to its customers, stockholders and the communities it serves.

    For more information, please visit our website at: IndependentBank.com.

       
    Contact: William B. Kessel, President and CEO, 616.447.3933
      Gavin A. Mohr, Chief Financial Officer, 616.447.3929 
       

    The MIL Network –

    September 29, 2024

  • MIL-OSI USA: Florida Man Pleads Guilty to Attempting to Sexually Entice a Minor

    Source: US Federal Emergency Management Agency

    Headline: Florida Man Pleads Guilty to Attempting to Sexually Entice a Minor

    lass=”usa-intro”>OCALA, Fla. — A Florida man pleaded guilty to attempting to entice a minor to engage in sexual activity following a joint Homeland Security Investigations (HSI) Orlando investigation.

    Devin Joseph Rivera, 24, of Ocala, faces a minimum mandatory penalty of 10 years and up to life in federal prison. A sentencing date has not yet been set.

    According to the plea agreement, on July 24, Rivera communicated online within someone he believed was a 13-year-old girl. The child, however, was an undercover HSI Orlando special agent. Rivera engaged in a sexually explicit conversation with the undercover agent and, ultimately, was arrested when he traveled to a predetermined meeting location in Marion County to engage in sexual activity with the child. Rivera brought a blanket and condom with him.

    This case was investigated by HSI Orlando, the Marion County Sheriff’s Office, the Ocala Police Department, the Florida Department of Law Enforcement and the Chiefland Police Department. It is being prosecuted by Assistant U.S. Attorney Sarah Janette Swartzberg.

    To report any information about human trafficking, child sexual abuse, or the trafficking in child sexual abuse material contact the HSI Tip Line at 877-4-HSI-TIP or report it through the CyberTipline on the National Center for Missing & Exploited Children’s website.

    MIL OSI USA News –

    September 29, 2024

  • MIL-OSI Russia: IMF Executive Board Concludes 2024 Article IV Consultation with Brunei Darussalam

    Source: IMF – News in Russian

    September 23, 2024

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded on September 16, 2024 the Article IV consultation[1] with Brunei Darussalam on a lapse-of-time basis[2].

    Brunei’s real GDP rose by 1.4 percent in 2023 after two years of recession, mainly driven by the non-oil and gas (O&G) sector and the earlier-than-anticipated production from the new Salman oil field in Q4 2023. Inflation fell, reaching 0.4 percent in 2023 compared to 3.7 percent in 2022, supported by the easing of post-pandemic supply chain disruptions, the softening commodity prices, as well as large subsidies and price controls. The fiscal and external position deteriorated in 2023 reflecting weaker O&G production and prices. The current account was also impacted by higher service imports and net income outflows. The banking sector remains stable, liquid, and well capitalized with declining non-performing loans. 

    The recovery is anticipated to continue and risks to the outlook are broadly balanced. Growth is forecasted at about 2.4 percent in 2024 on the back of expected increase in O&G production, including from the new offshore oil fields and rebound in downstream sector, while domestic non-O&G non-tradeable sector growth is expected to plateau. Inflation is expected to remain unchanged at 0.5 percent in 2024, and fiscal and external balances would stabilize alongside O&G prices. Near-term risks tilted downward due to external factors and O&G production challenges. New O&G field discoveries would provide significant upside, while accounting for decarbonization pressures. Structural reform implementation, with product diversification and technological advancement, could boost productivity, but economic and social challenges would remain with adoption of artificial intelligence.

    Executive Board Assessment

    In concluding the 2024 Article IV consultation with Brunei Darussalam, Executive Directors endorsed staff’s appraisal, as follows:

    Growth rebounded moderately in 2023. The stronger-than-expected growth turnaround was supported by a new O&G field coming to stream in late 2023, a high interest rate environment and post-pandemic momentum boosting finance, transport, and hospitality. However, persistent O&G production challenges and maintenance related disruptions in downstream activities along with lower O&G prices weakened the fiscal and external positions in 2023. Consequently, the external position for 2023 remained substantially weaker than suggested by fundamentals and desirable policies and the output gap is assessed to be negative. Disinflation continued mainly due to easing supply chain disruptions and the softening of commodity prices, aided by continuing large scale subsidies and price controls.

    The narrowing output gap, O&G revenue uncertainty and long-term decarbonization trends warrant a prudent fiscal stance, while protecting the vulnerable and public investment. While the use of fiscal buffers in FY 2023/24 was appropriate in view of the cyclical position and to support economic recovery, restoring fiscal buffers through growth-friendly fiscal consolidation should be prioritized going forward. This will require enhanced revenue generation, and could be supported by a low-rate carbon tax, and expenditure rationalization—including via more targeted subsidies.  These efforts should be guided by a fiscal consolidation plan with clear fiscal targets. Plans to establish a MTFF and fiscal anchors, strengthening fiscal risk management and transparency are welcome.

    The currency board arrangement with Singapore is sound and has played a key role in supporting Brunei’s macroeconomic and financial sector stability. Efforts to improve monetary operations, by including Singapore’s interbank transactions in its analysis to understand the influence of Singapore’s policy rates since January 2024, and continuing to narrow the corridor by raising the SFDR, integrating I-bills into the Asset Maintenance Ratio and launching a website for better communication on monetary policies, are welcome. Enhancing inter-agency cooperation regarding the issuance and management of sukuks will be helpful. Over the medium-term, the BDCB is encouraged to build internal capacity in liquidity forecasting to calibrate the issuance of the I-bills and consider establishing a single treasury account. 

    The financial sector remained stable with strong capital and liquidity buffers. Systemic risk is assessed to be contained. Careful tracking of credit growth in both offshore and domestic personal loans is warranted, as declining oil prices could pose risks, despite low NPLs. Ensuring that that the foreign loans continue to be invested in highly credit-rated assets will help to mitigate credit risk. For domestic lending, continuing to deploy prudential measures like capping the Total Debt Service Ratio, assessing unsecured personal loan exposure, and maintaining NPL standards are welcome measures. Authorities are encouraged to stay on track with plans to implement Basel III standards for better liquidity management by the end-2024. Implementation of stress tests is recommended, while considering stress testing for climate transition and physical risks. Efforts to further strengthen prudential frameworks, develop a long-term sukuk markets, green taxonomy and unify disclosure standards, and to improve AML/CFT effectiveness will help to deepen markets, and support long-term green projects. The authorities’ commitment to continue implementing the recommended actions in the APG’s Mutual Evaluation Report is welcome.

    The authorities’ commitment  to ambitious and sustained structural reforms will be critical to ensure growth and diversification, including by transitioning to a low-carbon economy.  Reaching the authorities’ net zero emissions goal by 2050, will require continued development of  the non-O&G sector, including through adoption of green technologies. Continued skill development, while addressing AI-related challenges and closing structural gaps in the first-generation reform areas (external sector trade facilitation, improving business regulation, and governance) vis-à-vis top peers, will be key to facilitate FDI and PPPs. Completing the 2025 National Adaptation Plan and a Climate Vulnerability Assessment should support the prioritization of adaptation strategies.

    Data provided to the Fund has some shortcomings that somewhat hamper surveillance and data quality should be strengthened. Steps are needed to close the identified data gaps in national income, prices, external and fiscal sectors. Efforts for improving external sector data through a survey to better gauge trends in errors and omissions, and payables/receivables and strengthening public financial management (PFM) to build more transparent and accountable fiscal systems and aligning these further with GFSM (2014) are welcome, as are plans to enhance dissemination via the Fund’s e-GDDS portal.

    Table 1. Brunei Darussalam: Selected Economic and Financial Indicators, 2019–29

    Area: 5,765 sq. kilometers

    		                      

    Population (2023): 450,500

    		                      

    Nominal GDP per capita (2023): US$33,581.1

    		                      

    Main export destinations (2023): Australia (21.5 percent), China (16.9), and Singapore (16.7)

    		            

    Unemployment rate (2023): 5.1%

    		                      

    Labor force participation rate (2023): total 67.2; male 75.8%; female 57.3%
         

    2019

    2020

    2021

    2022

    2023

    2024

    2025

    2026

    2027

    2028

    2029
                 

    Est.

    Proj.

    Proj.

    Proj.

    Proj.

    Proj.

    Proj.

    Output and Prices

    		                      
     

    Nominal GDP (millions of Brunei dollars)

    18,375

    16,564

    18,822

    23,003

    20,319

    20,893

    22,197

    23,073

    24,081

    25,153

    26,447
     

    Nominal non-oil and gas GDP (millions of Brunei dollars)

    8,268

    8,868

    9,790

    11,043

    10,883

    11,386

    12,411

    13,620

    15,045

    16,281

    17,717
     

    Real GDP (percentage change) 1/

    3.9

    1.1

    -1.6

    -1.6

    1.4

    2.4

    2.6

    2.6

    2.7

    2.9

    3.1
       

    Oil and gas sector GDP

    3.9

    -4.9

    -4.8

    -7.3

    -2.0

    2.6

    3.1

    3.1

    1.7

    1.1

    1.0
       

    Non-oil and gas sector GDP

    3.9

    8.9

    2.0

    4.3

    4.5

    2.1

    2.0

    2.1

    3.5

    4.4

    4.7
     

    Oil production (‘000 barrels/day)

    121

    110

    107

    92

    74

    84

    94

    94

    99

    90

    90
     

    Natural gas output (millions BTUs/day)

    1,402

    1,358

    1,253

    1,151

    1,214

    1,226

    1,201

    1,220

    1,277

    1,313

    1,313
     

    Average Brunei oil price (U.S. dollars per barrel)

    68.6

    43.3

    72.1

    107.7

    87.1

    89.5

    83.3

    79.9

    77.0

    75.1

    73.8
     

    Average Brunei gas price (U.S. dollars per million BTU)

    9.1

    6.7

    9.1

    14.4

    10.9

    8.6

    9.9

    8.7

    7.8

    7.4

    7.0
     

    Consumer prices (period average, percentage change)

    -0.4

    1.9

    1.7

    3.7

    0.4

    0.5

    1.0

    1.0

    1.0

    1.0

    1.0
         

    (Fiscal Year, In percent of GDP)

    Public Finances: Budgetary Central Government

    		                      
     

    Total revenue

    26.4

    12.6

    24.0

    28.3

    17.3

    19.3

    18.9

    17.5

    16.3

    15.5

    15.1
       

    Oil and gas

    19.8

    7.7

    20.2

    24.5

    13.0

    13.6

    13.4

    12.2

    11.1

    10.1

    9.5
       

    Other

    6.5

    5.0

    3.8

    3.9

    4.3

    5.6

    5.5

    5.3

    5.2

    5.4

    5.6
     

    Total Expenditure

    31.9

    32.6

    29.1

    26.7

    29.2

    29.4

    28.6

    27.8

    26.9

    25.9

    25.1
       

    Current

    29.5

    31.3

    28.0

    25.7

    27.4

    27.0

    26.2

    25.4

    24.5

    23.6

    22.8
       

    Capital

    2.4

    1.3

    1.1

    1.0

    1.8

    2.4

    2.3

    2.3

    2.3

    2.3

    2.3
     

    Overall balance 2/

    -5.6

    -20.0

    -5.1

    1.6

    -11.8

    -10.1

    -9.6

    -10.2

    -10.5

    -10.4

    -9.9
     

    Overall primary balance excluding royalties

    -22.7

    -25.8

    -22.5

    -19.8

    -22.6

    -21.5

    -20.7

    -20.2

    -19.6

    -18.7

    -17.7
     

    Non-oil and Gas Balance (In percent of non-oil and gas GDP)

    -49.5

    -46.1

    -44.3

    -40.2

    -41.8

    -39.2

    -36.5

    -33.7

    -31.1

    -28.6

    -26.1
         

    (12-month percent change)

    Money and Banking

    		                      
     

    Private Sector Credit

    2.0

    0.2

    2.7

    6.0

    3.9

    2.0

    2.0

    2.0

    2.0

    2.0

    2.0
     

    Narrow money

    6.6

    20.8

    6.5

    1.2

    0.7

    3.8

    3.8

    3.8

    3.8

    3.8

    3.8
     

    Broad money

    4.3

    -0.4

    2.7

    1.3

    2.7

    2.6

    2.7

    2.7

    2.7

    2.7

    2.7
         

    (In millions of U.S. dollars, unless otherwise indicated)

    Balance of Payments

    		                      
     

    Goods

    2,211

    1,359

    2,679

    5,153

    3,808

    3,966

    4,264

    4,121

    3,925

    4,013

    4,131
       

    Exports

    7,210

    6,535

    11,001

    14,130

    11,264

    11,416

    11,987

    12,098

    12,024

    12,390

    12,780
       

       Of which: oil and gas

    3,244

    2,943

    4,730

    5,660

    4,185

    3,867

    4,387

    4,243

    3,798

    3,668

    3,617
       

    Imports

    4,999

    5,176

    8,322

    8,977

    7,456

    7,450

    7,723

    7,977

    8,099

    8,377

    8,649
     

    Services (net)

    -1,189

    -855

    -696

    -848

    -1,305

    -1,324

    -1,271

    -1,173

    -1,086

    -1,029

    -989
     

    Primary Income (net)

    362

    360

    90

    -370

    194

    327

    226

    193

    146

    119

    83
     

    Secondary Income (net)

    -490

    -350

    -502

    -671

    -749

    -641

    -687

    -692

    -673

    -684

    -683
     

    Current Account Balance

    894

    514

    1,570

    3,264

    1,949

    2,328

    2,532

    2,448

    2,311

    2,419

    2,541
     

    Current Account Balance (in percent of GDP)

    6.6

    4.3

    11.2

    19.6

    12.9

    15.0

    15.5

    14.4

    13.0

    13.0

    13.0
     

    Gross Official Reserves 3/

    4,273

    3,997

    4,980

    5,035

    4,485

    4,583

    4,682

    4,780

    4,879

    4,977

    5,075
       

    In months of next year’s imports of goods and services

    8.0

    5.2

    5.9

    6.6

    5.9

    5.9

    5.9

    5.9

    5.9

    5.9

    5.9
     

    Brunei dollars per U.S. dollar (period average)

    1.36

    1.38

    1.34

    1.38

    1.34

    …

    …

    …

    …

    …

    …
     

    Brunei dollar per U.S. dollar (end of period)

    1.35

    1.34

    1.36

    1.35

    1.33

    …

    …

    …

    …

    …

    …

    Sources: Data provided by the Brunei authorities; and Fund staff estimates and projections.

    1/ Non-oil and gas GDP includes the downstream sector.

    2/ In absence of government debt and interest payments, this is also primary balance.

    3/ Comprises foreign exchange assets of Brunei Darussalam Central Bank, SDR holdings, and reserve position in the Fund.

    [1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

    [2] The Executive Board takes decisions under its lapse-of-time procedure when the Board agrees that a proposal can be considered without convening formal discussions.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Randa Elnagar

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    @IMFSpokesperson

    https://www.imf.org/en/News/Articles/2024/09/23/pr-24340-brunei-imf-concludes-2024-article-iv-consultation

    MIL OSI

    MIL OSI Russia News –

    September 29, 2024

  • MIL-OSI USA: Governor Kelly Announces 14 Grant Recipients for Rural Champions Program – Governor of the State of Kansas

    Source: US State of Kansas

    TOPEKA – Governor Laura Kelly announced today the 14 grant recipients of the Rural Champions program’s second cohort. The selected Rural Champions will join a growing statewide network of grassroots individuals tackling critical projects in their respective rural communities.

    “Since day one, my administration has been focused on the needs of our rural communities and the quality of life in every region of the state,” Governor Laura Kelly said. “Creating the Office of Rural Prosperity was only the beginning of our support for rural Kansans and their needs. By developing the Rural Champions program, we are assisting communities to find local solutions to specific local challenges.”

    Inspired by a Kansas Sampler Foundation report, the Office of Rural Prosperity, in collaboration with the Patterson Family Foundation, created the Rural Champions program as a way for rural communities to move the needle in areas where a lack of capital or other resources hinders necessary progress. The Rural Champions program provides a one-year wage stipend of $20,800 to each community, along with training and resources. Communities also will receive up to $25,000 at the end of the year to move into the implementation phase of their projects.

    “The diverse challenges rural communities face are much easier to resolve when you have an individual specifically dedicated to their particular issues, which is why the innovative Rural Champions program is so important,” Lieutenant Governor and Secretary of Commerce David Toland said. “Investing in our rural communities means investing in our people, which benefits the entire state and elevates their towns in ways that might otherwise not be possible.”

    The 2024-25 Rural Champions include:

    Organization

    Community

    Project area(s)

    Cardinal Community Foundation

    Nemaha County

    Community/Economic Development

    Cheyenne Community Development Corporation

    Cheyenne

    Housing

    City of Herington and CVB

    Herington

    Downtown Revitalization

    Comanche County Economic Development

    Comanche County

    Grant Writing/
    ED Regionalization

    Grinnell-Promoting Pride & Progress

    Grinnell

    Downtown Revitalization

    Harvey County United Way

    Harvey County

    Childcare

    Healthy Bourbon County Action Team

    Bronson

    Placemaking/ Recreation

    Hodgeman County Economic Development

    Hodgeman County

    Housing

    Lane County Community Foundation

    Dighton

    Food Access-Rural Grocery

    Legacy Regional Community Foundation

    Cowley County

    Food Access

    Rooks County Healthcare Foundation

    Rooks County

    Workforce Recruitment

    Stafford County Economic Development

    Stafford County

    Childcare

    The Building Community

    Fredonia

    Community/Economic Development

    United Way of the Flint Hills

    Emporia

    Homelessness

    “The first round of Rural Champions provided a great opportunity for progress and impact in the communities and organization. We again received many outstanding applications — making the selection of these 14 projects very competitive,” Director of the Office of Rural Prosperity Trisha Purdon said. “We are excited to continue the development of the program and add to our network of learning with the new group of Rural Champions.”

    Rural Champions will work with the Office of Rural Prosperity through project completion. At that time, information will again be compiled in the form of guidebooks to add to the library of projects and be made available to provide learning and support to additional communities.

    More information on the Rural Champions program is available here. The guidebooks developed by the first cohort of Champions are available to review here.

    ###

    MIL OSI USA News –

    September 29, 2024
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