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Category: KB

  • MIL-OSI Australia: $8 million mobile coverage boost for regional Victoria

    Source: Australian Ministers 1

    The Albanese Government has announced $8 million in funding to deliver better mobile coverage along highways and major roads for people who live, work and holiday in regional Victoria.
     
    The funding – set to be delivered as part of the Albanese Government’s $50 million Regional Roads Australia Mobile Program (RRAMP) – is supporting pilot programs across Australia.
     
    In Victoria, the pilot projects cover parts of the Great Alpine Road, Great Ocean Road and Monaro Highway, with a focus on boosting resilience and connectivity during emergencies and natural disasters.
     
    The Albanese Government is providing $8 million with the Victorian Government to design and deliver the pilot through a competitive grants program.
     
    Once delivered, the pilot programs will improve road safety, strengthen economic growth, improve social connectivity, and support regional development – including throughout Victoria.
     
    Outcomes from the RRAMP will inform the design of a national program to be announced in 2025.

    Applications for the Victorian pilot programs are planned to open in 2025.
     
    Quotes attributable to Minister for Communications, the Hon Michelle Rowland MP:
     
    “The Albanese Government is narrowing the digital divide in rural and regional Australia.
     
    “This important pilot program is just another way we’re delivering significant connectivity and safety improvements for communities across Victoria, and nationally, as the remainder of the program is rolled out.
     
    “The RRAMP pilot programs are being delivered under the Albanese Government’s $1.1 billion Better Connectivity Plan for Regional and Rural Australia, which is funding initiatives to improve connectivity for regional and rural communities right across the country.”
     
    Quotes attributable to Libby Coker MP, Federal Member for Corangamite:
     
    “The Albanese Government understands access to mobile coverage across the electorate of Corangamite is essential.

    “Boosting coverage along the Great Ocean Road will empower locals and visitors to stay safe and connected.

    “This program compliments communication upgrades across Corangamite, demonstrating Labor’s commitment to regional connectivity and development.” 
     
    Quote attributable to Victorian Minister for Government Services, Gabrielle Williams: 
     
    “The Allan Labor Government is delivering more than 1,200 mobile projects and 150 broadband projects across the state, ensuring Victorians can connect with loved ones, the community and essential services – especially during emergencies.

    “This new pilot program will deliver fast, reliable mobile services in regional Victoria – improving connectivity for communities, tourists and businesses.”
     

    MIL OSI News –

  • MIL-OSI USA: Savencia Cheese USA Announces an Expanded Voluntary Recall of Select Soft Ripened Cheeses

    Source: US Department of Health and Human Services – 3

    Summary

    Company Announcement Date:
    FDA Publish Date:
    Product Type:
    Food & Beverages
    Reason for Announcement:

    Recall Reason Description

    Potential Foodborne Illness – Listeria monocytogens

    Company Name:
    Savencia Cheese USA
    Brand Name:

    Brand Name(s)

    Aldi, La Bonne Vie and others

    Product Description:

    Product Description

    Soft ripened cheeses

    Company Announcement

    NEW HOLLAND, Pa. (Nov. 4, 2024) – Savencia Cheese USA is recalling select soft ripened cheeses manufactured in our Lena manufacturing facility because it has the potential to be contaminated with Listeria monocytogenes, an organism which can cause serious and sometimes fatal infections in young children, frail or elderly people, and others with weakened immune systems. Although healthy individuals may suffer only short-term symptoms such as high fever, severe headache, stiffness, nausea, abdominal pain and diarrhea, Listeria infection can cause miscarriages and stillbirths among pregnant women.

    The following products are affected by this recall:

    Description Best Buy Date Case GTIN Product UPC Mfg Date
    Aldi Emporium Selection Brie, 12/8oz Brie 12/24/2024   4099100084016 9/30/2024
    Supreme Oval 7oz, 6/7oz 12/24/2024 10071448504211 071448504214 9/30/2024
    La Bonne Vie Brie, 6/8oz 12/24/2024 10820581678538   9/30/2024
    La Bonne Vie Camember, 6/8oz 12/24/2024 10820581678613   9/30/2024
    12/8oz Industrial Brie 12/24/2024 10077901005226 077901005229 9/30/2024
    Market Basket Brie 6/8oz 12/24/2024 10049705666309 049705666302 9/30/2024
    Glenview Farms Spreadable Brie, 2/3lb 1/13/2025 50758108712312   10/15/2024

    The only products being recalled are those in the table above. You can identify these products by reviewing the UPC and the best buy date on the product labels. These products had limited regional distribution in the United States. The few retailers that received the product have been informed of this possible contamination and are in the process of removing products from shelves. Consumers that have any of the recalled products listed in the table above should refrain from consuming them and return them to their place of purchase for a full refund.

    At this time, there have been no confirmed reports of adverse health events due to consumption of these products.

    Through routine testing, it was identified that processing equipment at the site may have been contaminated with Listeria monocytogenes. While finished product testing has not identified contaminated product, we have initiated a voluntary recall to retrieve the potentially affected product.

    This voluntary recall is being conducted in coordination with the U.S. Food and Drug Administration.

    Consumers with questions regarding the recall can contact Consumer Relations at (800)-322-2743 or email sc.customer.service@savencia.com.

    *UPC was stated incorrectly in original release. Updated to reflect correct UPC.

    Media Contact:
    Kriston Ohm
    kriston.ohm@savencia.com

    Labels for Identification Purposes:

    Product Name UPC -A UPC – B Label
    Aldi Emporium Selection Brie, 12/8oz Brie 4099100084016   See image below
    La Bonne Vie Brie, 6/8oz     See image below
    La Bonne Vie Camembert, 6/8oz     See image below
    12/8oz Industrial Brie   077901005229 See image below
    Market Basket Brie 6/8oz 004970566630 049705666302 See image below
    Supreme Oval 7oz, 6/7oz 007144850421 071448504214 See image below
    Glenview Farms Spreadable Brie, 2/3lb 50758108712312   See image below

    Initial Press

    Company Contact Information

    Product Photos

    MIL OSI USA News –

  • MIL-OSI Security: Domestic Violence Offender Indicted For Illegally Trying To Buy Firearms

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

    Jacksonville, FL – United States Attorney Roger B. Handberg announces the return of an indictment charging Vance Perry (67, Palatka) with making a false statement to a federally licensed firearms dealer during the attempted purchase of a firearm on two separate occasions. If convicted, Perry faces up to five years in federal prison. 

    According to the indictment, on February 18, 2023, Perry completed an ATF Form 4473 during the attempted purchase of a firearm from a federally licensed firearms dealer. On March 25, 2024, Perry tried to buy a different gun from another federally licensed firearms dealer. Perry indicated on the required paperwork that he was not convicted of a domestic violence offense. The indictment alleges that this was a false statement, and that Perry was previously convicted of domestic battery on December 28, 2021.

    An indictment is merely a formal charge that a defendant has committed one or more violations of federal criminal law, and every defendant is presumed innocent unless, and until, proven guilty.

    This is another case uncovered through the FBI’s National Instant Criminal Background Check System (NICS). All NICS denials are reported to federal law enforcement and are reviewed daily for potential criminal prosecution. Federal law makes it a felony offense to make a false statement to a firearms dealer when trying to buy a gun.   

    This case was investigated by the Bureau of Alcohol, Tobacco, Firearms and Explosives. It is being prosecuted by Assistant United States Attorney Frank Talbot. 

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

    MIL Security OSI –

  • MIL-OSI Canada: Government launches consultations on National Bank’s proposed acquisition of Canadian Western Bank

    Source: Government of Canada News (2)

    Today, the Department of Finance is launching consultations to help inform the Minister of Finance’s decision regarding National Bank of Canada’s proposed acquisition of Canadian Western Bank, which was first announced on June 11, 2024.

    November 5, 2024 – Ottawa, Ontario – Department of Finance Canada

    Today, the Department of Finance is launching consultations to help inform the Minister of Finance’s decision regarding National Bank of Canada’s proposed acquisition of Canadian Western Bank, which was first announced on June 11, 2024.

    As stipulated in the Bank Act, all acquisitions and amalgamations in Canada’s banking sector are subject to the approval of the Minister of Finance, who must take into account all matters she considers relevant. These may include:

    • The rights and interests of consumers, business customers, and employees;
    • The impact of the transaction on the level of competition in the sector;
    • The consequences of the stability and integrity of the financial sector and public confidence in it;
    • Whether the acquisition is in the best interests of the financial system; and,
    • Whether the acquisition is in the best interests of those living in an affected region.

    The proposed acquisition would require an additional approval from the Minister of Finance to recategorize Canadian Western Bank and exempt it from the requirement that its shares be widely held. In addition to the regulatory review by the Office of the Superintendent of Financial Institutions and by the Competition Bureau, which concluded in September 2024, comments received during this consultation process will help inform the Minister of Finance’s decision, and can be submitted to transactions@fin.gc.ca by November 19, 2024, with “NBC/CWB” in the subject line.

    MIL OSI Canada News –

  • MIL-OSI New Zealand: Base Woodbourne resolution with Kurahaupō Iwi

    Source: New Zealand Government

    The Government and three Kurahaupō Iwi have signed a $25.2million agreement to resolve the post-Treaty settlement issue of contaminated land at RNZAF Base Woodbourne. 

    Ngāti Apa ki te Rā Tō Trust, Rangitāne o Wairau Settlement Trust, and Te Rūnanga o Ngāti Kuia each received $8.4 million after contaminated soil at Base Woodbourne near Blenheim prevented the three Iwi from purchasing a substantial part of the site as originally intended in their Treaty settlement redress.

    The NZDF as the landholding agency and Te Arawhiti, as the responsible agency to ensure the durability of Treaty settlements, worked together to resolve the issue and an agreement was signed with Iwi on 14 October 2024.

    Māori Crown Relations Minister Tama Potaka praised the three Iwi for their ongoing commitment to resolving the issue.

    “I know this mahi has presented everyone involved with challenges, and I particularly want to acknowledge and thank the Iwi for their resolution to move forward.

    “Upholding Treaty settlement commitments is a priority for this government. In this case, the negotiated settlement redress could not be delivered as intended and it was incumbent on us to work with Iwi to find a mutually agreeable solution.”

    Contamination from per- and poly-fluoroalkyl substances (PFAS) contained in firefighting foams, was found in the soil at Woodbourne as part of the Crown’s ‘due diligence’ phase of engagement between the Iwi and the New Zealand Defence Force in 2019.

    PFAS can accumulate in the human body and does not break down in the environment, posing potential health and environmental risks.

    “The $25.2m confirmed in Budget 2024 compensates the Iwi for being unable to purchase the remainder of the site due to the extent of the contamination, which includes the operational land and housing block as intended,” Mr Potaka says.

    “National has a proud history of delivering settlements with Iwi and we will continue to build on that legacy.”

    Kua ea te take e pā ana ki te whenua o Base Woodbourne ki te taha o ngā iwi o Kurahaupō

    Kua hainatia e te Kāwanatanga me ngā iwi e toru o te waka o Kurahaupō tētahi whakaaetanga e $25.2 miriona te nui o te pūtea, hei whakaea i tētahi take e pā ana ki ngā matū kino kei te whenua o RNZAF Base Woodbourne.

    E $8.4 miriona te nui o te pūtea i whakawhiwhia ki ia iwi, arā, ki a Ngāti Apa ki te Rā Tō Trust, ki a Rangitāne o Wairau Settlement Trust, ki Te Rūnanga o Ngāti Kuia hoki i te mea kāore rātou i āhei ki te hoko i tētahi wāhi nui o ngā whenua i tāpuia mā ngā iwi e toru nei i raro i tō rātou whakataunga Tiriti nā te whakakinotanga o te one ki Base Woodbourne e pātata ana ki Te Waiharakeke.

    I mahitahi Te Ope Kātua o Aotearoa i raro i tōna tūranga hei kaipupuri whenua me Te Arawhiti hei kaiwhakapūmau o ngā whakataunga Tiriti ki te whakatutuki i te kaupapa, ā, ka hainatia tētahi whakaaetanga ki te taha o ngā iwi i te 14 o Oketopa i te tau 2024.

    Ka mihia ngā iwi e toru e te Minita o Te Arawhiti, e Tama Potaka i tō rātou manawanui ki te whakatutuki i tēnei take.

    “Kei te mōhio au ki ngā uauatanga i tau atu ki runga i ngā tāngata katoa i whai wāhi mai ki tēnei mahi, ā, kei te mihi atu au ki ngā iwi i tō rātou whakaae ki te ahu whakamua.

    “Ko te whakamanatanga o ngā whakataunga Tiriti tētahi o ngā whāinga matua a tēnei kāwanatanga. Kāore mātou i āhei ki te hoatu i te paremata i whiriwhiringia i roto i te whakataunga, nō reira nō mātou anō te haepapa ki te mahi ngātahi ki ngā iwi ki te kimi i tētahi whakautu e pai ana ki ngā rōpū e rua.”

    I kitea ngā paitini nā ngā matū kino o te pāhuka patu ahi, e kīia ana ko te PFAS, ki roto i te one ki Woodbourne i te Karauna e takatū ana mō ngā whakawhitinga kōrero i waenga i ngā iwi me Te Ope Kātua o Aotearoa i te tau 2019.

    Ka noho tonu te PFAS ki roto i te tinana, ā, e kore hoki e popo i te au tūroa, nā reira he matū mōrearea rawa tēnei ki te tangata me te taiao.

    “I tohua te $25.2m i te Tahua Pūtea o te tau 2024 hei utu paremata ki te iwi i te mea kāore rātou i āhei ki te hoko i te toenga o te whenua nā te nui o ngā matū kino ki reira, arā, e kapi katoa ana tērā i te whenua e whakamahia ana e Te Ope Kātua me tētahi huinga whare i tāpaea i mua,” te kī a Mr Potaka.

    “E tū whakahīhī ana a Nāhinara i te whakatutukinga o te huhua o ngā whakataunga ki te taha o ngā iwi i roto i ngā tau, ā, ka haere tonu tērā mahi.”

    MIL OSI New Zealand News –

  • MIL-OSI Australia: City seeks community feedback on Immunisation Services

    Source: State of Victoria Local Government 2

    The City of Greater Bendigo is undertaking a review of its Immunisation Services to ensure the service is meeting the needs of the community.

    Residents can have input into the review by completing a short online survey on the City’s community engagement website Let’s Talk Greater Bendigo by Wednesday December 4, 2024.

    City of Greater Bendigo Acting Manager Community and Environmental Health, Sue Harrison said in the last financial year the City provided a total of 10,504 immunisations at community sessions (6,725), school sessions (3,333) and 446 influenza vaccinations for City staff.

    “The City’s free immunisation services are accessed by a large number of people and by undertaking a review we want to find out residents experiences and satisfaction with the current service,” said Ms Harrison.

    “This is an important project because we want to gain an understanding of the challenges and barriers residents may face when accessing the service and identify what’s working well and the areas where improvements could be made,

    “The information provided by residents through the survey will help us to determine how often, and where, public immunisation clinics are held, if we need to provide better access to the clinics and if services are being delivered in the best possible way.

    “The review is about building community trust and knowledge and we really want to hear the thoughts of residents about the services they use so we can ensure they can access the services they want and need.”

    The survey opens on Wednesday November 6 and will close on Wednesday December 4, 2024.

    MIL OSI News –

  • MIL-OSI Canada: Canada and African Union Commission to host High-Level and Trade Policy dialogues

    Source: Government of Canada News

    The Honourable Mélanie Joly, Minister of Foreign Affairs, the Honourable Mary Ng, Minister of Export Promotion, International Trade and Economic Development, and the Honourable Ahmed Hussen, Minister of International Development, will meet African Union Commission (AUC) leadership for the second annual Canada-AUC High-Level Dialogue on November 7, 2024. On November 6, Minister Ng will attend a high-level event at the Canada-AUC Trade Policy Dialogue. The events will take place in Toronto, Ontario.

    November 5, 2024 – Ottawa, Ontario – Global Affairs Canada

    The Honourable Mélanie Joly, Minister of Foreign Affairs, the Honourable Mary Ng, Minister of Export Promotion, International Trade and Economic Development, and the Honourable Ahmed Hussen, Minister of International Development, will meet African Union Commission (AUC) leadership for the second annual Canada-AUC High-Level Dialogue on November 7, 2024. On November 6, Minister Ng will attend a high-level event at the Canada-AUC Trade Policy Dialogue. The events will take place in Toronto, Ontario.

    During the High-Level Dialogue events, the ministers will reaffirm Canada’s commitment to deepening its engagement across the African continent. They will meet with representatives of the AUC and the African Union (AU), senior officials, stakeholders from civil society and diasporas and youths to strengthen ties and create opportunities across the African continent. They will also discuss shared priorities, such as promoting peace and security, democracy and human rights, trade diversification and gender equality and tackling food security.

    On November 7, Minister Joly will participate in meetings to discuss how Canada and the AUC can work together within multilateral institutions on shared objectives. She will also highlight Canada’s desire to build further upon the 70 years of its relations with African countries as a reliable and trusted partner in advancing shared priorities and fostering mutual prosperity with African countries. She will also underscore the important role of Canada’s Ambassador for Women, Peace and Security in supporting and fostering the role of young women in civil society.

    Minister Ng will co-chair an economic cooperation session with Albert Muchanga, the AUC’s Commissioner for Trade and Industry, to advance Canada-AUC trade policy collaboration and promote 2-way trade and investment diversification. She will take the opportunity to strengthen cooperation between Canada and Africa and chart a path forward to shared economic prosperity and resilience. Minister Ng will also explore ways to expand and diversify Canada-Africa trade and investment partnerships that will benefit businesses, economies and people in Canada and Africa.

    Minister Hussen will emphasize Canada’s commitment to fostering development partnerships, grounded in its Feminist International Assistance Policy, that benefit both Canada and Africa. He will lead discussions with AUC representatives that focus on Canada and Africa working closely together on trade, gender equality and skills development for youth. Minister Hussen will also underscore Canada’s collaborative approach to maternal health, child nutrition, climate resilience and sustainable agriculture, reinforcing Canada’s dedication to supporting resilient African communities and inclusive economic growth across the continent.

    Throughout the High-Level Dialogue, the 3 ministers will leverage the talented and energetic African youth population, which is playing an important leadership role across the continent.

    The long-standing relationship between Canada and the AUC will be -enhanced with the signing of a memorandum of understanding. A solid partnership between Canada and Africa is fundamental to advancing shared priorities and fostering the mutual prosperity of Canadians and Africans alike.

    MIL OSI Canada News –

  • MIL-OSI Canada: Minister Champagne participating in armchair discussion at the Canadian Aerospace Summit

    Source: Government of Canada News

    Media advisory

    November 6, 2024 – Ottawa, Ontario

    The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry will participate in an armchair discussion with Mike Mueller, President and CEO of the Aerospace Industries Association of Canada.  The event will take place at the Leadership Luncheon during the 2024 Canadian Aerospace Summit.

    Date: Wednesday, November 6, 2024

    Time: 12:40 ET

    Location:

    Rogers Centre (formerly the Shaw Centre)
    55 Colonel By Drive
    Ottawa, ON
    K1N 9J2

    Members of the media are asked to contact ISED Media Relations at media@ised-isde.gc.ca if they would like to have an interview with Minister Champagne.[DC2]

    Contacts

    Audrey Milette
    Press Secretary
    Office of the Minister of Innovation, Science and Industry
    audrey.champoux@ised-isde.gc.ca

    Media Relations
    Innovation, Science and Economic Development Canada
    media@ised-isde.gc.ca

    Stay connected

    Find more services and information at Canada.ca/ISED.

    Follow Innovation, Science and Economic Development Canada on social media.
    X (Twitter): @ISED_CA | Facebook: Canadian Innovation | Instagram: @cdninnovation | LinkedIn: Innovation, Science and Economic Development Canada

    MIL OSI Canada News –

  • MIL-OSI Canada: Ensuring fair electoral representation for Albertans

    Source: Government of Canada regional news

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    [embedded content]

    The Justice Statutes Amendment Act, 2024, would amend several pieces of legislation, including the Electoral Boundaries Commission Act, the Public’s Right to Know Act, the Critical Infrastructure Defence Act and the Alberta Evidence Act. Proposed amendments would increase access to justice and address the current needs of Albertans.  

    Electoral Boundaries Commission Act

    If passed, amendments to the Electoral Boundaries Commission Act would direct the commission to increase the number of electoral divisions in Alberta from 87 to 89 and clarify the list of factors the commission may consider when drawing up the new electoral boundaries.

    Under the Electoral Boundaries Commission Act, the population of each electoral division in Alberta must not be more than 25 per cent above or more than 25 per cent below the average population of all the proposed electoral divisions. Currently, the populations of nine electoral divisions in Alberta are greater than 25 per cent of the average electoral division population. 

    Proposed amendments would help address the significant increase in Alberta’s population since the most recent provincial election, and ensure Albertans have effective representation in the legislature.

    “The amendments we are proposing are essential to keeping up with Alberta’s significant population growth and ensuring fair, effective representation for all Albertans in the legislature. By increasing the number of electoral divisions, we demonstrate our commitment to balanced and equitable representation for all Albertans.”

    Mickey Amery, Minister of Justice and Attorney General

    Public’s Right to Know Act

    The Public’s Right to Know Act legislates public reporting of crime data to make it easier for Albertans to know what’s happening in their community. Proposed amendments would allow the minister of justice to require government departments, municipalities and police services to provide up-to-date data, which will foster greater sharing of information and a better understanding of the criminal justice system.

    Critical Infrastructure Defence Act

    The Critical Infrastructure Defence Act protects essential infrastructure by creating offences for trespassing, interfering with operations or causing damage. Proposed amendments would incorporate the health care facilities currently identified in the regulation into the act, ensuring the definition of essential infrastructure is contained in one place. The definition of essential infrastructure is currently contained in both the act and the Critical Infrastructure Defence Regulation. With this amendment, the Critical Infrastructure Defence Regulation, which initially added “prescribed health care facilities” into the definition of essential infrastructure, will no longer be needed and will be repealed.  

    Alberta Evidence Act

    The Alberta Evidence Act sets out a process for individuals to give evidence to the court either orally or in writing. Proposed amendments would give Albertans simpler and more modern processes for confirming the truth of the information they provide to the courts. These amendments would save Albertans time and money by allowing them to certify information electronically rather than visiting a courthouse or paying to swear or affirm an oath in person. Processes will still be available for those who prefer in-person and paper-based execution of documents. 

    Quick facts

    • Between July 1, 2023 and July 1, 2024, Alberta’s population grew by around 204,000 people or 4.4 per cent. This is the highest annual growth rate since 1981 and the highest among all provinces.
    • The populations of nine electoral divisions currently exceed 25 per cent of the average population of each electoral division, which is the maximum deviation allowed under the legislation. 
    • An Electoral Boundaries Commission reviews existing electoral boundaries and makes proposals to the legislative assembly about area, boundaries and names of the electoral divisions.
    • A new Electoral Boundaries Commission is appointed eight to ten years after the appointment of the previous commission.
    • When drawing up the new electoral boundaries, the commission must consider the requirement for effective representation for all Albertans. In addition, the commission may consider:
      • The sparsity and density of population.
      • Communities of interest, including municipalities, regional and rural communities, Indian reserves and Metis settlements.
      • Geographical features, including the availability and means of communication and transportation between various parts of Alberta.
      • The desirability of understandable and clear boundaries.
      • The rate of population growth.
      • Any other factors the commission considers appropriate.

    Related information

    • Ensuring fair electoral representation
    • Bill 31: Justice Statutes Amendment Act, 2024

    Multimedia

    • Watch the news conference
    • Listen to the news conference


    MIL OSI Canada News –

  • MIL-OSI New Zealand: FAQs – Unified Funding System

    Source: Tertiary Education Commission

    What are performance element incentive payments? When will they be implemented?
    The learner component has an incentive payment element which will be paid to each TEO on achieving the performance expectations set by TEC. This will be part of TEOs’ annual investment plan process within TEOs’ learner success plan, where appropriate.
    TEC is taking a phased approach to implementing these incentive payments. In 2023, this payment will be required of a small number of TEOs (but those with significant levels of learner component funding), then rolling out to cover all TEOs in 2024.  
    For more information, please see the Learner Component section of our website.
    How do TEOs apply for learner component funding?
    TEOs will not need to apply for learner component funding. It will be allocated as part of TEOs’ overall funding for VET.
    Can PTEs apply for more transitions funding?  How do they do this?
    No. TEC will allocate transition funding to eligible TEOs based on the published criteria and allocation methodology.
    There are no additional reporting requirements.
    What is the definition of ‘low prior achievement’ (LPA)?
    In 2022, this is a learner under the age of 25 as at the date of enrolment who has not previously achieved a qualification on the NZQF at level 3 or above.
    From 2023, it will apply to all learners as at the date of enrolment who has not previously achieved a qualification on the NZQF at level 3 or above, not just those under 25.
    How are learners with LPA identified by the TEC?
    SDR, ITR and NZQA data are used to determine LPA.  If prior education records are not available for a learner, they are deemed to be LPA.
    Does the LPA include equivalent qualifications achieved overseas?
    Where overseas qualifications are recorded in the data, they are taken into account in the LPA analysis.
    Will a student out of high school into tertiary education be considered someone with LPA?
    Students that have not achieved NCEA level 3 are considered having LPA.
    Will a PTE lose their learner component funding if an LPA learner achieves at level 3 and transitions to a level 4 course, unless the student qualifies under a different component?
    The learner attributes are proxies for distributing funding. The learner component is not intended to be targeted at specific learners with these characteristics – the funding is a contribution for the support of all learners.  It is expected that each TEO will determine the actual support each learner requires, whether or not the learner has any of the characteristics used for the funding proxy.
    Can learner component funding be recovered through the wash-up process?
    No, there are no recoveries of the learner component.
    Can a TEO update the Disability Status and Disability Support Needs fields after enrolment?
    Yes, if a learner’s disability status has changed since their enrolment, and the TEO has also obtained the learner’s answers to the Disability Support Needs questions, TEOs can amend the record in the next learner file submission.
    How were the four learner groups that are linked to the learner component chosen?
    We undertook extensive analysis of data on the performance of the Vocational Education and Training (VET)  system to understand more about those learners who, on average, have been not well served by the education system in the past. This analysis showed that there were four groups of learners most at risk of not completing VET qualifications and/or face a range of disadvantages in the VET system: learners with low prior achievement, disabled learners, Māori learners and Pacific learners.
    Why are only four learner groups linked to funding?
    Accurately identifying each individual learner’s needs is challenging. We needed a way to approximate the level of need among each TEO’s learner population. We did this by using relatively large learner groups that are more likely to face disadvantages in the VET system. Our analysis shows that these four groups of learners are good proxies of need among each TEO’s learner population, that is, they approximate the level of need in a straightforward way.
    What about learners who don’t fall into the four groups linked to funding? How will they get support?
    TEOs should use learner component funding for all learners who need additional support, not just for learners in the four identified groups. The four groups serve as a proxy for learners who need additional support to be successful in VET. Providers are expected to identify the unique needs of all their learners (including through engagement with learners and their communities), decide how best to support them, and allocate funding accordingly. All learners should therefore receive the support they need to be successful in VET.
    Why is there a difference in rates for Māori and Pacific learners compared to learners with low prior achievement and disabled learners?
    Data is mixed on how the system performs for Māori and Pacific learners. For example, while Māori learners are more likely than New Zealand European learners to participate in VET, they experience poorer employment outcomes from their study. This means that tying funding to a participation measure alone is unlikely to have the results we want to see. We have therefore developed a performance incentive payment that can more directly incentivise the outcomes we want. Māori will be involved in developing the indicators for this.
    Importantly, for Māori and Pacific learners who also have low prior achievement and/or are disabled, providers will receive both funding rates. Māori and Pacific learners who have low prior achievement and/or are disabled will attract the highest level of funding. It recognises that these learners have compounding levels of disadvantage.
    Will the incentive payments be the same as the previous performance-linked funding?
    No. We are still developing the details of how they will work but they are not intended to be the same as performance-linked funding. Further information will be available in 2022.
    How will performance expectations for each TEO be set?
    We are still developing the details of how these will be set along with related incentive payments. We will work with stakeholders to finalise the details of the performance part of the learner component. Further information will be available in 2022.
    What happens to existing equity funding for VET?
    The learner component replaces equity funding for VET. From 2023, equity funding will not apply to VET but will continue for non-UFS provision.
    Why doesn’t the learner component apply to the assessment and verification mode?
    The assessment and verification mode will support learners who are employed and receive support for their learning and wellbeing directly from their employer. Providers will have a limited role focused on quality assurance of the assessment that underpins learners’ qualifications. This means providers will have little direct contact with learners and limited scope to engage with and support learners.
    How will the funding be calculated with learners with more than one eligible characteristic?
    We will calculate funding by allocating:

    the relevant rate where a learner is identified in the data as disabled and/or having low prior achievement
    the relevant rate where a learner is identified in the data as Māori and/or Pacific
    both relevant rates where a learner is identified in the data as disabled and/or having low prior achievement and as Māori and/or Pacific (both rates apply).

    How are learners with low prior achievement identified?
    Learners with low prior achievement are those who have not achieved a prior qualification at level 3 or above on the New Zealand Qualifications Framework (NZQF) as at the learner’s enrolment start date.
    How will support for learners change?
    Over time, all VET learners can expect learning and wellbeing support that is tailored to their specific needs. This will take time but we expect providers to more proactively identify learners who may need support and for providers to be more focused on meeting learners’ needs.
    Who receives the funding? And who decides how it is spent?
    Learner component funding will be allocated to TEOs. They will decide how to spend this funding in a way that supports all of their learners’ needs.
    How will this improve the way the VET system performs for Māori learners?
    Māori learners can expect to have increased opportunities to enrol in and complete VET qualifications that have strong employment outcomes including apprenticeships. Providers and employers will be encouraged to work together to increase hiring, training and support for Māori learners. Labour market underutilisation rates could drop, and median salaries could rise. Māori learners will be able to consistently expect culturally affirming learning environments.
    How will this improve the way the VET system performs for Pacific learners?
    As for Māori, Pacific learners can expect to have increased opportunities to enrol in and complete VET qualifications that have strong employment outcomes, including apprenticeships. Providers and employers will be encouraged to work together to increase hiring, training and support for Pacific learners. Labour market underutilisation rates could drop, and median salaries could rise. Pacific learners will be able to consistently expect culturally affirming learning environments
    How will this improve the way the VET system performs for disabled learners?
    Providers will have increased capability and capacity to understand, identify and support disabled learners’ needs. Providers and employers will be encouraged to work together to improve hiring and training rates and support for disabled employees. Disabled learners could increasingly enrol in, and complete, VET qualifications that have strong employment outcomes, including work-based training. The very high labour market underutilisation rates for disabled people could drop.
    How will this improve the way the VET system performs for learners with low prior achievement?
    Learners with low prior educational achievement can expect more support to complete their qualifications. We are seeking a significant improvement in qualification completion rates for these learners compared to other learner groups.
    How are disabled learners identified?
    Disabled learners are learners who identify as disabled on enrolment forms and learners who access disability support from providers. TEC is working with providers and the wider sector to improve data collection on disabled learners.

    MIL OSI New Zealand News –

  • MIL-OSI USA: FDA Roundup: November 5, 2024

    Source: US Department of Health and Human Services – 3

    For Immediate Release:

    Today, the U.S. Food and Drug Administration is providing an at-a-glance summary of news from around the agency: 

    • Today, the FDA published “Catching Up with Califf: One Health – Optimal Public Health Outcomes for Humans and Animals in Our Shared Environment,” by FDA Commissioner Robert M. Califf, M.D. Dr. Califf discusses One Health and the FDA’s mission to collaborate across disciplines and sectors to promote the health of humans and animals; and taking into account agricultural and environmental issues, using science, technology, and innovation to better understand and define policies that involve these intersections. The blog also provides details on FDA Center for Veterinary Medicine’s upcoming Symposium: “Paws, Claws, Hooves, Fins, and Feet—Advancements through a One Health Approach.”
    • On Monday, the FDA published the Supplement to the 2022 Food Code. The Supplement updates the 2022 Food Code with recommendations made by regulatory officials, industry, academia, and consumers at the 2023 Biennial Meeting of the Conference for Food Protection. The Food Code and its Supplement provide government and industry with practical, science-based controls for reducing the risk of foodborne illness in retail and foodservice establishments of all types. The Food Code and the Supplement are joint projects by the FDA, the Centers for Disease Control and Prevention, and the United States Department of Agriculture – Food Safety and Inspection Service.
    • On Monday, the FDA, in collaboration with the Environmental Protection Agency (EPA), announced the registration of the first antimicrobial treatment for pathogen reduction in pre-harvest agricultural water—a landmark achievement in enhancing food safety. This product effectively combats foodborne pathogens such as E. coli and Salmonella in water used to grow crops. It is the first label amendment approved under a revised efficacy protocol–designed by the FDA and EPA–to ensure robust treatment options are available for agricultural use. 
    • On Monday, the FDA authorized marketing of LumiThera, Inc.’s Valeda Light Delivery System to help improve vision in certain dry age-related macular degeneration (AMD) patients. According to data on AMD prevalence estimates analyzed by the CDC, in 2019 an estimated 19.8 million Americans aged 40 years and older were living with some type (dry or wet) of AMD.

      “Today’s action brings to market the first therapeutic option for adult patients with dry AMD,” said Malvina Eydelman, M.D., director of the Office of Ophthalmic, Anesthesia, Respiratory, ENT and Dental Devices at the FDA’s Center for Devices and Radiological Health. “This authorization reinforces FDA’s commitment to assuring access to innovative, safe and effective medical devices to treat high-prevalence, degenerative conditions.”

      The Valeda Light Delivery System uses three light emitting diodes that generate light at different wavelengths to provide treatment to the patient’s eye. Treatment with the device after approximately two years can provide an average improvement in vision equivalent to around one line on an eye chart. 

    • On Friday, the FDA Office of Criminal Investigations arrested a Massachusetts spa owner, Rebecca Fadanelli, for allegedly performing thousands of illegal injections of counterfeit Botox, Sculptra and Juvederm on clients for over three years. If you or a family member believe you received services involving a counterfeit drug or counterfeit device from Fadanelli and/or Skin Beaute Med Spa in Randolph and South Easton, Mass. between 2021 through and including to the present date, please complete the questionnaire located on the FDA’s website here. 

    Related Information

    Related Information

    ###

    Boilerplate

    The FDA, an agency within the U.S. Department of Health and Human Services, protects the public health by assuring the safety, effectiveness, and security of human and veterinary drugs, vaccines and other biological products for human use, and medical devices. The agency also is responsible for the safety and security of our nation’s food supply, cosmetics, dietary supplements, radiation-emitting electronic products, and for regulating tobacco products.

    Inquiries

    Consumer:
    888-INFO-FDA

    MIL OSI USA News –

  • MIL-OSI: Main Street Financial Services Corp. Announces Earnings for Third Quarter of 2024

    Source: GlobeNewswire (MIL-OSI)

    Business Highlights

    • Financial results reflect a full quarter following the completed merger of Main Street Financial Services Corp. (Main Street) and Wayne Savings Bancshares, Inc. (Wayne) on May 31, 2024.
    • Net income for the third quarter of 2024 totaled $3.4 million, or $0.44 per common share
    • Annualized deposit growth of 7.8% for the quarter ended September 30, 2024
    • Annualized loan growth of 4.6% for the quarter ended September 30, 2024
    • Announced implementation of Dividend Reinvestment Plan for shareholders on October 3, 2024
    • Declared cash dividend of $0.14 per share on October 11, 2024

    WOOSTER, Ohio, Nov. 05, 2024 (GLOBE NEWSWIRE) — Main Street Financial Services Corp. (OTCQX: MSWV), (the “Company”), the holding company parent of Main Street Bank Corp. reported a net income of $3.4 million, or $0.44 per common share, for the three months ended September 30, 2024. Excluding the merger-related expenses (non-GAAP) for the three months ended September 30, 2024, net income was $3.6 million, or $0.46 per share. Merger-related expenses totaled $0.2 million for the quarter, consisting of legal and professional services.

    The Company announced a merger of equals transaction with Wayne Savings Bancshares, Inc. (“Legacy Wayne”) on February 23, 2023. On May 31, 2024 (the “Merger Date”), the Company completed the transaction, forming a financial holding company with assets of $1.4 billion. On the Merger Date, Legacy Wayne merged with and into Main Street, with Main Street surviving the merger (the “Merger”). Immediately following the Merger, Main Street’s wholly owned bank subsidiary, Main Street Bank Corp., merged with and into Wayne Savings Community Bank, with Wayne Savings Community Bank surviving the merger. Upon completion of the Merger, Wayne Savings Community Bank was renamed Main Street Bank Corp.

    The Merger was accounted for as a reverse merger using the acquisition method of accounting, therefore, Legacy Wayne was deemed the acquirer for financial reporting purposes, even though Main Street was the legal acquirer. Accordingly, Legacy Wayne’s historical financial statements are the historical financial statements of the combined company for all periods before the Merger Date. Our consolidated statements of income for the quarters ended June 30, 2024 and September 30, 2024, include the results from Main Street on and after May 31, 2024. Results for periods before May 31, 2024, reflect only those of Legacy Wayne and do not include the consolidated statements of income of Main Street. Accordingly, comparisons of our results for the quarter ended September 30, 2024, with those of prior periods may not be meaningful. The number of shares issued and outstanding, earnings per share, dividends paid and all references to share quantities of Main Street have been retrospectively adjusted to reflect the equivalent number of shares issued in the Merger.

    The return on average equity and return on average assets for the third quarter of 2024 was 12.58% and 1.00%, compared to 14.41% and 0.91%, for the third quarter of 2023. Excluding merger-related expenses (non-GAAP), return on average equity and return on average assets for the quarter ended September 30, 2024, was 13.21% and 1.05%, respectively.

    President and CEO James R. VanSickle commented “2024 has been the most transformational year in the 125-year history of our bank. The successful merger of Main Street and Wayne has provided long-term value for our shareholders and benefits for our customers, communities and employees. We are pleased with our growth in loans and deposits and our solid earnings during our first full quarter of operations ended on September 30, 2024. We remain optimistic about the increased capabilities, scale and profitability of our combined organization.”

    Third Quarter 2024 Financial Results

    Net interest income was $10.7 million for the quarter ended September 30, 2024, an increase of 97.6% from $5.4 million for the quarter ended September 30, 2023. The net interest margin of 3.28% for the third quarter of 2024 increased 40 basis points from 2.88% for the third quarter of 2023. Loan yields were 6.17% for the quarter ended September 30, 2024, an increase of 99 basis points when compared to 5.18% for the quarter ended September 30, 2023. Investment yields increased 111 basis points to 3.45% as of September 30, 2024 when compared to the quarter ended September 30, 2023. The cost of funds for the third quarter of 2024, was 2.64%, an increase of 102 basis points when compared to the third quarter of 2023. The cost of funds increase is largely due to utilizing higher-cost wholesale funding, such as FHLB advances, and shifting deposit composition to higher-yielding product offerings. The cost of total deposits was 2.29% for the quarter ended September 30, 2024, a 90 basis point increase when compared to 1.39% for the quarter ended September 30, 2023. The cost of borrowings for the quarter ended September 30, 2024 totaled 5.45%, an increase of 25 basis points when compared to the quarter ended September 30, 2023.

    A provision for credit losses and unfunded commitments of $109,000 was recorded for the quarter ended September 30, 2024. During the quarter, the Company recognized 86,000 in charge-offs and $36,000 in recoveries, reflecting relatively stable asset quality.

    Noninterest income totaled $1.6 million for the quarter ended September 30, 2024. The Company elected to sell approximately $15 million of the acquired securities portfolio during the quarter, recognizing a gain on sale of investments totaling $702,000.

    Noninterest expense totaled $7.9 million for the quarter ended September 30, 2024, an increase of $4.1 million when compared to the quarter ended September 30, 2023. The increase reflects a full quarter of combined expenses after completion of the merger. Merger-related noninterest expenses (non-GAAP) totaled $0.2 million for the quarter, consisting of legal and professional services. Excluding merger-related expenses (non-GAAP), the Company’s efficiency ratio was 62.9% for the quarter ended September 30, 2024, compared to 58.2% for the quarter ended September 30, 2023.

    September 30, 2024 Financial Condition

    At September 30, 2024, the Company had total assets of $1.39 billion with net loan balances totaling $1.11 billion. Net loans receivable increased by $12.6 million during the third quarter of 2024, or 4.6% annualized, primarily in the commercial loan portfolio. As part of the merger, the Company acquired $430.8 million in loans.

    The allowance for credit losses was $11.8 million at September 30, 2024, compared to $7.3 million at December 31, 2023. The increase is a result of establishing an allowance for credit losses on the acquired non-PCD loan portfolio during the second quarter of 2024. The allowance for credit losses as a percent of total loans was 1.04%, compared to 1.09% as of December 31, 2023. The allowance for credit losses and the related provision for credit losses is based on management’s judgment and evaluation of the loan portfolio. Management believes the current allowance for credit losses is adequate, however, changing economic and other conditions may require future adjustments to the allowance for credit losses.

    Total nonperforming loans (NPLs) was $5.4 million at September 30, 2024, an increase from $0.4 million at December 31, 2023. The NPL to net loan receivable ratio was 0.48% as of September 30, 2024. Past due loan balances of 30 days and more increased from $2.8 million at December 31, 2023, to $13.2 million, or 1.18% of net loans outstanding, at September 30, 2024. The increase in nonperforming and past due loans is due to the impact of the acquired loan portfolio.

    Improvement in Asset Quality Since Merger Announcement: The combined level of classified loans and loans past due 30 or more days was $24.4 million and $19.1 as of December 31, 2022. Since the merger announcement on February 23, 2023, the management teams of both Main Street and Wayne invested a great deal of time ensuring our combined organization utilizes strong underwriting standards and proactively monitors credit quality. Main Street sold approximately $15.2 million of loans in August 2023 and April 2024, of which approximately $12.7 million were classified loans. As of September 30, 2024, the resultant Company has $14.6 of classified loans and $13.2 of loans past due 30 or more days.

    Total liabilities increased to $1.28 billion at September 30, 2024 with deposits totaling $1.10 billion and FHLB advances totaling $140.0 million. Deposits grew by $21.2 million, or 7.8% annualized, during the third quarter of 2024. As part of the merger, the Company acquired $487.4 million in deposits. As of September 30, 2024, the Company held no brokered deposits compared to $116.7 million at December 31, 2024. The Company leverages FHLB advances for short-term funding needs due to their accessibility and alignment with prevailing market rates. As of September 30, 2024, the Company held $140.0 million in FHLB advances.

    Total stockholders’ equity was $111.3 million at September 30, 2024, an increase of $58.4 million when compared to the December 31, 2023 balance. The increase was primarily driven by the merger between Main Street and Wayne. Total stockholders’ equity increased during the third quarter of 2024 by $5.3 million, primarily from net income of $3.4 million and an increase in accumulated other comprehensive income benefit of $2.8 million, partially offset by dividends of $1.1 million.

    Main Street Financial Services Corp. is a holding company headquartered in Wooster, Ohio. Its primary subsidiary, Main Street Bank Corp. was founded in 1899 and provides full-service banking, commercial lending, and mortgage services across its branch infrastructure. Today, Main Street Bank Corp. operates 19 branch locations in Wooster, Ohio, Wheeling, West Virginia and other surrounding communities in Ohio and West Virginia. Additional information about Main Street Bank Corp. is available at www.mymainstreetbank.bank.

    Non-GAAP Disclosure
    This press release includes disclosures of the Company’s return on average equity, return on average assets, net income, and efficiency ratios which are excluding costs related to merger activities which are financial measures not prepared in accordance with generally accepted accounting principles in the United States (GAAP). A non-GAAP financial measure is a numerical measure of historical or future financial performance, financial position or cash flow that excludes or includes amounts that are required to be disclosed by GAAP. The Company believes that these non-GAAP financial measures provide both management and investors a more complete understanding of the underlying operational results and trends and the Company’s marketplace performance. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the numbers prepared in accordance with GAAP.

    Forward-Looking–Statements
    This release contains forward-looking statements that are not historical facts and that are intended to be “forward-looking statements” as that term is defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include, but are not limited to, statements about the Company’s plans, objectives, expectations and intentions and other statements contained in this release that are not historical facts and pertain to the Company’s future operating results. When used in this release, the words “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions are generally intended to identify forward-looking statements. Actual results may differ materially from the results discussed in these forward-looking statements, because such statements are inherently subject to significant assumptions, risks and uncertainties, many of which are difficult to predict and are generally beyond the Company’s control. These include but are not limited to: the possibility of adverse economic developments that may, among other things, increase default and delinquency risks in the Company’s loan portfolios; shifts in interest rates; shifts in the rate of inflation; shifts in the demand for the Company’s loan and other products; unforeseen increases in costs and expenses; lower-than-expected revenue or cost savings in connection with acquisitions; changes in accounting policies; changes in the monetary and fiscal policies of the federal government; and changes in laws, regulations and the competitive environment. Unless legally required, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact Information:
    Matthew Hartzler
    Senior Vice President, Chief Financial Officer
    (330) 264-5767

     
    MAIN STREET FINANCIAL SERVICES CORP.
    Condensed Consolidated Balance Sheets
    (Dollars in thousands, except share data – unaudited)
      September 30, 2024   December 31, 2023
    ASSETS      
           
    Cash and cash equivalents $ 40,654     $ 20,884  
    Securities, net (1)   152,915       86,405  
    Loans held for sale   –       –  
    Loans receivable, net   1,118,781       669,603  
    Federal Home Loan Bank stock   7,420       3,959  
    Premises & equipment, net   11,119       4,904  
    Bank-owned life insurance   22,013       11,706  
    Other assets   40,351       12,486  
    TOTAL ASSETS $ 1,393,252     $ 809,947  
           
    LIABILITIES AND STOCKHOLDERS’ EQUITY      
           
    Deposit accounts $ 1,101,999     $ 693,126  
    Other short-term borrowings   25,715       8,743  
    Federal Home Loan Bank advances   140,000       47,000  
    Accrued interest payable and other liabilities   14,218       8,111  
    TOTAL LIABILITIES   1,281,932       756,980  
           
           
    Common stock (7,801,011 shares of $1.00 par value issued)   7,801       398  
    Additional paid-in capital   55,640       36,715  
    Retained earnings   54,133       55,342  
    Treasury Stock, at cost – 0 shares and 1,777,824 shares at      
    September 30, 2024 and December 31, 2023, respectively.   –       (30,330 )
    Accumulated other comprehensive loss   (6,254 )     (9,158 )
    TOTAL STOCKHOLDERS’ EQUITY   111,320       52,967  
           
    TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 1,393,252     $ 809,947  
           
    (1) Includes available-for-sale and held-to-maturity classifications.
    Note: The December 31, 2023 Condensed Consolidated Balance Sheet has been derived from the audited Consolidated Balance Sheet as of that date.
           
     
    MAIN STREET FINANCIAL SERVICES CORP.
    Condensed Consolidated Statements of Income
    (Dollars in thousands, except share data – unaudited)
                   
                   
      Three Months Ended   Nine Months Ended
      September 30,   September 30,
        2024     2023     2024     2023
                   
    Interest income $ 18,930   $ 9,078   $ 41,196   $ 25,550
    Interest expense   8,308     3,673     19,134     8,590
    Net interest income   10,622     5,405     22,062     16,960
    Provision for credit losses   109     138     4,703     526
    Net interest income after provision for credit losses   10,513     5,267     17,359     16,434
    Non-interest income   1,600     691     2,994     2,000
    Non-interest expense              
    Salaries and employee benefits   3,799     2,049     8,688     5,949
    Net occupancy and equipment expense   1,465     629     2,970     1,806
    Federal deposit insurance premiums   118     117     440     374
    Franchise taxes   51     98     358     299
    Advertising and marketing   190     49     408     179
    Legal   195     11     508     362
    Professional fees   371     54     1,664     270
    ATM network   79     121     474     320
    Auditing and accounting   193     60     386     180
    Other   1,403     545     2,625     1,337
    Total non-interest expense   7,863     3,733     18,520     11,076
    Income before federal income taxes   4,251     2,225     1,833     7,358
    Provision for federal income taxes   804     452     315     1,562
    Net income $ 3,446   $ 1,773   $ 1,517   $ 5,796
                   
    Earnings per share              
    Basic $ 0.44   $ 0.46   $ 0.27   $ 1.51
    Diluted $ 0.44   $ 0.46   $ 0.27   $ 1.50
                   
     
    MAIN STREET FINANCIAL SERVICES CORP.
    Selected Condensed Consolidated Financial Data
    (Dollars in thousands, except share data – unaudited)
                     
                     
        September   June   March   December
          2024       2024       2024       2023  
                     
    Interest and dividend income   $ 18,930     $ 12,572     $ 9,694     $ 9,545  
    Interest expense     8,308       6,185       4,641       4,330  
    Net interest income     10,622       6,387       5,053       5,215  
    Provision for credit losses     109       4,720       (126 )     4  
    Net interest income after                
    provision for credit losses     10,513       1,666       5,179       5,211  
    Non-interest income     1,600       716       678       1,017  
    Non-interest expense     7,863       6,723       3,934       3,748  
    Income before federal income taxes     4,251       (4,341 )     1,923       2,480  
    Provision for federal income taxes     804       (873 )     384       443  
    Net income   $ 3,446     $ (3,468 )   $ 1,539     $ 2,037  
                     
    Earnings per share – basic   $ 0.44     $ (0.68 )   $ 0.40     $ 0.53  
    Earnings per share – diluted   $ 0.44     $ (0.67 )   $ 0.40     $ 0.53  
    Dividends per share   $ 0.14     $ 0.14     $ 0.14     $ 0.14  
    Return on average assets     1.00 %     -1.38 %     0.76 %     1.02 %
    Return on average equity     12.58 %     -17.16 %     11.63 %     16.90 %
    Shares outstanding at quarter end     7,801,011       7,787,055       3,840,575       3,839,702  
    Book value per share   $ 14.27     $ 13.60     $ 13.81     $ 13.80  
    Tangible equity per share   $ 12.15     $ 11.49     $ 13.36     $ 13.35  
                     
                     
        September   June   March   December
          2023       2023       2023       2022  
                     
    Interest and dividend income   $ 9,078     $ 8,571     $ 7,901     $ 7,518  
    Interest expense     3,673       2,867       2,050       1,248  
    Net interest income     5,405       5,704       5,851       6,270  
    Provision for credit losses     138       170       218       381  
    Net interest income after                
    provision for credit losses     5,267       5,534       5,633       5,889  
    Non-interest income     691       706       603       631  
    Non-interest expense     3,733       3,949       3,394       3,508  
    Income before federal income taxes     2,225       2,291       2,842       3,012  
    Provision for federal income taxes     452       547       563       603  
    Net income   $ 1,773     $ 1,744     $ 2,279     $ 2,409  
                     
    Earnings per share – basic   $ 0.46     $ 0.46     $ 0.60     $ 0.62  
    Earnings per share – diluted   $ 0.46     $ 0.45     $ 0.59     $ 0.63  
    Dividends per share   $ 0.14     $ 0.14     $ 0.14     $ 0.14  
    Return on average assets     0.91 %     0.92 %     1.23 %     1.36 %
    Return on average equity     14.41 %     14.36 %     19.58 %     22.87 %
    Shares outstanding at quarter end     3,837,609       3,837,085       3,831,939       3,825,451  
    Book value per share   $ 12.40     $ 12.64     $ 12.51     $ 11.69  
    Tangible equity per share   $ 11.95     $ 12.20     $ 12.06     $ 11.24  
                     
     
    MAIN STREET FINANCIAL SERVICES CORP.
    Non-GAAP reconciliation
    (Dollars in thousands, except per share data – unaudited)
         
      For three months ended   For the nine months ended
      September 30,   September 30,
          2024       2023       2024       2023  
                   
    Net Income as reported – GAAP   $ 3,446     $ 1,773     $ 1,518     $ 5,796  
    Effect of merger related expenses (net of tax benefit)     170       160       5,743       597  
    Net Income non-GAAP   $ 3,616     $ 1,933     $ 7,261     $ 6,393  
                     
    Earnings per share – GAAP   $ 0.44     $ 0.46     $ 0.27     $ 1.51  
    Effect of merger related expenses     0.02       0.04       1.03       0.16  
    Earnings per share non-GAAP   $ 0.46     $ 0.50     $ 1.30     $ 1.67  
                     
    Return on average assets – GAAP     1.00 %     0.91 %     0.19 %     1.02 %
    Effect of merger related expenses     0.05 %     0.08 %     0.72 %     0.10 %
    Return on average assets non-GAAP     1.05 %     0.99 %     0.91 %     1.12 %
                     
    Return on average equity – GAAP     12.58 %     14.41 %     2.66 %     16.06 %
    Effect of merger related expenses     0.62 %     1.29 %     10.06 %     1.65 %
    Return on average equity non-GAAP     13.20 %     15.70 %     12.72 %     17.71 %
                     
    Efficiency Ratio – GAAP     64.34 %     61.24 %     73.92 %     58.42 %
    Effect of merger related expenses     -1.39 %     -3.07 %     -9.90 %     -3.29 %
    Efficiency Ratio non-GAAP     62.9 %     58.17 %     64.02 %     55.13 %
                     

    The MIL Network –

  • MIL-OSI New Zealand: Coalition Govt’s expensive tunnel vision for Wellington comes at the expense of the regions

    Source: Green Party

    A second Mount Victoria tunnel, a duplicate Terrace tunnel alongside highway widening will dump more traffic in the centre of Wellington and result in more pollution. 

    “We know urban highway widening does not solve the problem. It’s a 1950s-style solution that makes traffic and pollution worse,” says the Green Party’s spokesperson for Transport, Julie Anne Genter. 

    “The only way to ensure more people can move easily around Wellington in the future is to substantially invest in rail, public transport, and active transport. If the Government eventually brings in congestion pricing, people will want and need those alternatives – so logically, they should be the priority.

    “If the Government is going to spend a few billion dollars on a road, it would be better spent in the regions where it will actually make a difference – not just a few kilometres of an extra lane in the centre of Wellington.

    “The cost of these projects has not yet been publicly disclosed, but it will easily be more than the $3 billion deemed ‘unaffordable’ for the crucial inter-island ferries project, or the Dunedin hospital. 

    “It’s outrageous that the Coalition Government is prioritising billions of dollars for a few kilometres of an extra car lane in Wellington, while cutting rail and public transport improvements that would deliver more for our people and our climate.

    “The most concerning aspect is the use of the Fast Track Bill, which means local government, communities and the environment will not be considered in the least. This is a classic example of the Government dodging democracy to implement policies and projects that are bad for both people and planet. 

    “Wellingtonians deserve to have a say on a project that will have such a monumental impact on the outlook of our city and its future,” says Julie Anne Genter.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Not too late to abandon the Bill, Christopher

    Source: Green Party

    The Green Party is urgently calling on Prime Minister Christopher Luxon to abandon the Treaty Principles Bill following reports it will be introduced on Thursday. 

    “It’s not too late to do the right thing, Christopher. It’s time to abandon this Bill and honour Te Tiriti,” says the Green Party’s spokesperson for Justice, Tamatha Paul.  

    “Te Tiriti forms the founding agreement Aotearoa was built upon. It provides the foundations for an enduring relationship between tangata whenua and tangata Tiriti that ensures everybody is looked after and nobody is left behind.

    “Te Tiriti is permanent, Governments are temporary. Honouring the Treaty has to come before the honouring of coalition agreements. 

    “At Waitangi, Christopher Luxon told Māori that Te Tiriti was our past, present and future. At the tangi of Kiingi Tuuhetia, he spoke to the importance of kotahitanga and the need to honour the legacy of the late Kiingi. If his words are actually worth anything, he would not allow legislation that aims to completely corrupt and defile the defining essence of our nation anywhere near our Parliament. 

    “It is high time that his rhetoric matched the reality of his actions when it comes to Te Tiriti. He has stood by and watched as Treaty protections were removed from state care, as the Māori Health Authority was scrapped and as Māori wards were essentially erased. 

    “The Prime Minister has two choices: abandon the Bill and honour our founding agreement or unleash a level of division and disharmony that will cut to the very core of our country.

    “We call on the Prime Minister to do the right thing and uphold the dignity, meaning and integrity of our founding agreement,” says Tamatha Paul. 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Near four-year high unemployment reveals dire need for new direction

    Source: Green Party

    Today, Statistics New Zealand’s latest labour market report revealed that unemployment has reached 4.8 per cent, the highest rate since late 2020, during the COVID pandemic.

    “The Government’s economy for the rich is leaving thousands behind,” says the Green Party’s Spokesperson for Social Development and Employment, Ricardo Menéndez-March.

    “We can build an economy that works for everyone and leaves nobody behind by investing in the public services and infrastructure which support our communities as well as programmes like jobs for nature that provide people with meaningful and stable work. 

    “The unemployment rate has hit the highest level since COVID, and this is down to the coalition government relying on making people unemployed to lower inflation while prioritising tax cuts, slashing public investment, and undermining the construction industry.

    “Losing a job shouldn’t condemn families to poverty, yet successive Governments have set benefit levels below the poverty line and pushed ahead with sanctions that entrench hardship. 

    “Instead of punching down on those doing it the toughest and pushing more children into hardship, the Greens will lift all families out of poverty with a Guaranteed Minimum Income. 

    “This Government’s punitive approach to welfare and public investment is clearly not working. The Government has engineered an economy that punches down on our communities, one without jobs that simultaneously punishes people for not being able to find work. 

    “Poverty is a political choice, one that successive governments have chosen not to address. However, with unemployment rising and households experiencing wave after wave of financial strain, there is no better time than the present to end poverty and introduce an Income Guarantee. 

    “This is a policy we campaigned on and will continue to push as disparities in wealth widen and the incomes of people on the breadline stagnate. 

    “The Income Guarantee is a commitment to every New Zealander that no matter what, your income will never fall below $390 per week, after tax. For couples, our Income Guarantee will be at least $780, and a single parent will always have an income of at least $750.

    “The Greens would support people into work with a supportive welfare system, more training opportunities, and restarting public investment in healthcare, schools, and houses that create good jobs,” says Ricardo Menéndez-March.

    • Statistics NZ data for the September quarter can be found here. 
    • The Reserve Bank’s Financial Stability report can be found here. 
    • The Income Guarantee 2023 election policy can be found here. Rates have been adjusted for inflation.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Safe, secure digital identity services on the way

    Source: New Zealand Government

    New Zealanders can expect safe and secure digital identity services following the finalisation of the Digital Identity Services Trust Framework, Minister for Digitising Government Judith Collins says.

    “New Zealanders want to be able to complete everyday tasks online and in person in a way that’s safe and secure,” Ms Collins says.

    “Today’s announcement paves the way for safe future digital identity services, such as a digital driver licence, bank ID or trade certification.”

    The Trust Framework sets out how accredited digital identity services, including for privacy and security, must work, with providers meeting the specified rules and regulations.

    “There are many instances where we need to share information, such as our name, address, age or qualifications, and this often involves turning up in person or providing insecure scanned copies of our important physical documents,” Ms Collins says.

    “Using accredited digital identity services makes it easier to securely share your information, helps protect from identity theft, and gives New Zealanders greater control over their own information.

    “If people choose to use digital identity services, they have the choice about what information they share, and who they share it with. No one will be required to use digital identity services but those who do can be assured that accredited services can be trusted.”

    The Trust Framework rules come into effect on 8 November 2024. More information about the Trust Framework, can be found here: Trust Framework – dia.govt.nz

    Note to Editors:

    • The Trust Framework does not create a central database, track users or allow organisations to exchange user information.
    • With accredited digital identity wallets and apps, information is protected by encryption technology. Consent is always required, meaning people must give their express permission before their information is shared.
    • Digital credentials always reside with the user and the issuer has no knowledge or oversight of when and how the user presents their credentials.

    MIL OSI New Zealand News –

  • MIL-OSI Australia: ACCC to livestream public hearings for Supermarkets Inquiry

    Source: Australian Competition and Consumer Commission

    The ACCC will conduct a series of public hearings from 7 to 22 November as part of its ongoing Supermarkets Inquiry.

    The public hearings will be livestreamed via the ACCC website and will be an opportunity for the ACCC to gain a more complete understanding of the key issues in the retail grocery sector and its associated supply chains.

    The hearings will involve executives of Aldi, Coles, Metcash, Woolworths and other stakeholders.

    “We have received a large volume of information from the major participants in the supermarket sector and these hearings will provide an opportunity for us to seek clarification on a range of the very complex matters that are detailed in that information,” ACCC Deputy Chair Mick Keogh said.

    “Our inquiry is ongoing and as such, we have not yet reached concluded views on the key issues flagged in our interim report. We will outline our views and recommendations in the final report for the inquiry, which is due to the Treasurer by 28 February 2025.”

    The scheduled hearing dates and attendees are as follows:

    • 7-8 November – Consumer advocacy groups, supplier industry representative bodies and supplier(s)
    • 11-12 November – Aldi
    • 14-15 November – Metcash
    • 18-19 November – Woolworths
    • 21-22 November – Coles

    More information on the hearings can found on the ACCC website. The livestream will become available on this webpage: Supermarkets inquiry public hearings

    Background

    On 25 January 2024, the Australian Government announced that it will direct the ACCC to conduct an inquiry into Australia’s supermarket sector.

    The ACCC received the formal direction from the Australian Government and the terms of the reference for the inquiry on 1 February 2024.

    On 29 February 2024, the ACCC published an online survey and issues paper seeking views from consumers, farmers and other interested parties. 

    On 27 September 2024, the ACCC published its interim report outlining what it has heard at the half-way point of the inquiry.

    The final report for the inquiry is due to be provided to the Government by 28 February 2025.

    The ACCC’s proceedings against Woolworths and Coles are separate to the inquiry, and the issues in dispute in these proceedings will not be considered by the Supermarkets Inquiry.

    MIL OSI News –

  • MIL-OSI Australia: G7 and Partners Foreign Ministers Statement: 5 November 2024

    Source: Australian Government – Minister of Foreign Affairs

    We, the Foreign Ministers of Australia, Canada, France, Germany, Italy, Japan, Republic of Korea, New Zealand, the United Kingdom, the United States and the High Representative of the European Union express our grave concerns regarding the deployment of DPRK troops to Russia, potentially for the use on the battlefield against Ukraine.

    Several thousands of DPRK troops have been deployed to Russia. The DPRK’s direct support for Russia’s war of aggression against Ukraine, besides showing Russia’s desperate efforts to compensate its losses, would mark a dangerous expansion of the conflict, with serious consequences for European and Indo-Pacific peace and security. It would be a further breach of international law, including the most fundamental principles of the UN Charter.

    We condemn in the strongest possible terms the increasing military cooperation between the DPRK and Russia, including the DPRK’s export and Russia’s unlawful procurement of DPRK ballistic missiles in breach of multiple UN Security Council resolutions (UNSCRs), as well as Russia’s use of these missiles and munitions against Ukraine. DPRK soldiers receiving or providing any training or other assistance related to the use of ballistic missiles or arms is a direct violation of UN Security Council resolutions 1718, 1874 and 2270. We are also deeply concerned about the potential for any transfer of nuclear or ballistic missile-related technology from Russia to the DPRK in violation of the relevant UNSCRs. We urge the DPRK to stop providing assistance to Russia’s war of aggression.

    We reaffirm our unwavering commitment to support Ukraine as it defends its freedom, sovereignty, independence and territorial integrity. We are working with our international partners for a coordinated response to this new development.

    MIL OSI News –

  • MIL-OSI Security: Dubuque Man Who Possessed Firearms While Being an Illegal User of Methamphetamine and Cocaine Sentenced to Prison

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

    A man who possessed five firearms while being an illegal drug user was sentenced November 1, 2024, to more than one year in federal prison.

    Jesse James Zeromski, age 25, from Dubuque, Iowa, received the prison term after a May 10, 2024, guilty plea to one count of possession of a firearm by an unlawful drug user.

    At the guilty plea, Zeromski admitted he unlawfully possessed five firearms, including a revolver, two shotguns, and two rifles, while being an unlawful user of methamphetamine, amphetamine, and cocaine.  

    Zeromski was sentenced in Cedar Rapids by United States District Court Chief Judge C.J. Williams.  Zeromski was sentenced to twelve months’ and one day imprisonment.  He must also serve a three-year term of supervised release after the prison term.  There is no parole in the federal system.

    Zeromski is being held in the United States Marshal’s custody until he can be transported to a federal prison.

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

    The case was prosecuted by Special Assistant United States Attorney Michael Hudson and Assistant United States Attorney Patrick J. Reinert and investigated by the Dubuque Police Department, the Bureau of Alcohol, Tobacco, Firearms, and Explosives, and the Iowa Division of Criminal Investigations.  

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

    The case file number is 24-CR-1008.

    Follow us on X @USAO_NDIA.

    MIL Security OSI –

  • MIL-OSI Reportage: BNZ and BlinkPay to accelerate open banking in New Zealand

    Source: BNZ statements

    BNZ today announced it has joined forces with leading New Zealand open banking fintech BlinkPay.

    The investment will enable BlinkPay to accelerate and scale its innovation and product development through access to BNZ’s resources and expertise.

    With BNZ as BlinkPay’s new owner, co-founder Adrian Smith becomes the fintech’s CEO, ensuring BlinkPay retains its own leadership and decision-making, along with its entrepreneurial spirit and startup culture.

    “As a Māori-led business, we bring unique perspective to financial innovation. BNZ understands and values this – and they’re backing our vision while enabling us to retain our startup DNA,” Smith says.

    “Our kaupapa has always been about making financial services work better for all New Zealanders. BNZ’s support gives us the resources to accelerate our mission and help grow the open banking ecosystem across Aotearoa.”

    BNZ CEO Dan Huggins says the investment builds on BNZ’s established leadership in open banking.

    “BNZ has been at the forefront of open banking in New Zealand since 2018, with more than 250,000 customers already benefiting from innovative financial services enabled by BNZ’s open banking technology.

    “This represents the next phase in our journey. With BNZ supporting BlinkPay’s innovation and agility, we can accelerate the development of new products and services that will benefit all New Zealanders.

    “We’re proud to be investing in a team that has proven their ability to innovate and deliver.”The partnership will focus on developing new open banking capabilities that improve financial outcomes for consumers and businesses across Aotearoa New Zealand.

    The post BNZ and BlinkPay to accelerate open banking in New Zealand appeared first on BNZ Debrief.

    MIL OSI Analysis –

  • MIL-OSI Submissions: Unemployment rate at 4.8 percent – Stats NZ media and information release: Labour market statistics: September 2024 quarter

    Source: Statistics New Zealand

    Unemployment rate at 4.8 percent – 6 November 2024 – Unemployment continues to grow, with more people remaining unemployed for longer periods and a declining employment rate, while wage growth slows, according to figures released by Stats NZ today.

    In the September 2024 quarter:

    • unemployment rate was 4.8 percent
    • employment rate was 67.8 percent
    • annual wage inflation was 3.8 percent
    • average ordinary time hourly earnings were $41.98.

    The seasonally adjusted unemployment rate, as measured by the Household Labour Force Survey, was 4.8 percent in the September 2024 quarter, compared with 4.6 percent in the previous quarter.

    Visit Statistics NZ’s website to read this news story and information release and to download CSV files:

     

    MIL OSI –

  • MIL-OSI New Zealand: Unemployment rate at 4.8 percent – Stats NZ media and information release: Labour market statistics: September 2024 quarter

    Source: Statistics New Zealand

    Unemployment rate at 4.8 percent – 6 November 2024 – Unemployment continues to grow, with more people remaining unemployed for longer periods and a declining employment rate, while wage growth slows, according to figures released by Stats NZ today.

    In the September 2024 quarter:

    • unemployment rate was 4.8 percent
    • employment rate was 67.8 percent
    • annual wage inflation was 3.8 percent
    • average ordinary time hourly earnings were $41.98.

    The seasonally adjusted unemployment rate, as measured by the Household Labour Force Survey, was 4.8 percent in the September 2024 quarter, compared with 4.6 percent in the previous quarter.

    Visit our website to read this news story and information release and to download CSV files:

    MIL OSI New Zealand News –

  • MIL-OSI USA: A Week of Rain Across Spain

    Source: NASA

    On October 29, 2024, a period of intense rainfall inundated Valencia province in eastern Spain. The extensive, deadly flooding destroyed infrastructure and spurred massive search and rescue efforts.
    The downpours kept coming as a high-altitude, low-pressure weather system remained parked over the region. These systems, known as cut-off lows or locally by the Spanish acronym DANA, develop when cold fronts encounter warm, humid air masses and become isolated from the jet stream. In the days following the Valencia flash floods, rain continued to fall in Spain’s eastern coastal regions as well as its southwest, causing yet more flooding and disrupting transportation, classes, and other activities.
    This map shows rainfall accumulation totals from October 29 through November 4, 2024. These data are remotely sensed estimates that come from IMERG (the Integrated Multi-Satellite Retrievals for GPM), a product of the GPM (Global Precipitation Measurement) mission, and may differ from ground-based measurements. For instance, IMERG data are averaged across each pixel, meaning that rain-gauge measurements within a given pixel can be significantly higher or lower than the average.
    Ground-based measurements by Spain’s meteorological agency, AEMET, indicated that rainfall totals exceeded 300 millimeters (12 inches) in some areas of Valencia province on October 29 alone. A few days later, on November 1, Huelva province in southwest Spain saw torrential rains; 134 millimeters (5 inches) fell in the city of Cartaya in a 12-hour period. AEMET also issued warnings and reported strong storms along the Mediterranean coast on November 2 and 3.
    Next, the heavy rains migrated north, and 150 millimeters (6 inches) fell in Barcelona by noon on November 4. Barcelona’s airport cancelled and diverted flights on that day due to flooding, and train services and schools were also suspended.
    Cut-off low-pressure weather systems are typical in this region in autumn because intrusions of cold air from the Arctic encounter remaining surface heat from the Mediterranean summer. Storm systems of the same type drenched Spain and Greece in September 2023.
    NASA Earth Observatory image by Michala Garrison, using IMERG data from the Global Precipitation Mission (GPM) at NASA/GSFC. Story by Lindsey Doermann.

    MIL OSI USA News –

  • MIL-OSI USA: Hancock and Sevier Counties Eligible for FEMA Public Assistance

    Source: US Federal Emergency Management Agency

    Headline: Hancock and Sevier Counties Eligible for FEMA Public Assistance

    Hancock and Sevier Counties Eligible for FEMA Public Assistance

    FEMA has added Hancock and Sevier counties to the Oct. 2 major presidential declaration for Tropical Storm Helene, meaning state and local governments and certain nonprofit organizations in both counties may seek funding under FEMA’s Public Assistance program. Hancock and Sevier counties are now authorized to recover eligible costs under FEMA Public Assistance funding for emergency work including debris removal and emergency protective measures; and permanent work that includes projects to permanently restore community infrastructure affected by Helene.FEMA had previously approved Carter, Claiborne, Cocke, Grainger, Greene, Hamblen, Hawkins, Jefferson, Johnson, Sullivan, Unicoi and Washington counties for Public Assistance funding for Helene, which swept across Eastern Tennessee Sept. 26-30.The Public Assistance program is FEMA’s largest grant program, providing funding to help communities pay for emergency work to save lives and protect property, for debris removal, and for repairs to roads, bridges, water control facilities, public buildings, public utilities, parks and recreational facilities.Federal funding is typically available on a cost-sharing basis, with FEMA reimbursing Tennessee applicants 75% of eligible costs and the state responsible for the non-federal share, or up to 25%. For Helene damage in Tennessee, President Biden authorized 100% federal funding for emergency work generated by the disaster. This means FEMA may cover all eligible costs incurred during any 45-day period of the state’s choosing during the first 120 days from the start of the disaster, or Sept. 26. This allows communities to maximize cost savings by selecting the 45 days when the greatest costs occurred.FEMA’s Public Assistance program provides reimbursement for eligible costs to local and state government agencies, and certain private nonprofits including houses of worship. Learn about Assistance for Governments and Private Non-Profits After a Disaster | FEMA.gov.
    kwei.nwaogu
    Tue, 11/05/2024 – 22:03

    MIL OSI USA News –

  • MIL-OSI: SHAREHOLDER INVESTIGATION: The M&A Class Action Firm Investigates the Merger of Vista Outdoor Inc. – VSTO

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Nov. 05, 2024 (GLOBE NEWSWIRE) — Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating Vista Outdoor Inc. (NYSE: VSTO), relating to its proposed merger with Czechoslovak Group a.s. (“CSG”). Under the terms of the agreement, Vista shareholders will also sell Revelyst in an all-cash transaction funds managed by Strategic Value Partners, LLC, and its affiliates. Together, the and the SVP Transactions will deliver an estimated $45 per share in cash to Vista Outdoor stockholders

    ACT NOW. The Shareholder Vote is scheduled for November 25, 2024.

    Click here for more information https://monteverdelaw.com/case/vista-outdoor-inc/. It is free and there is no cost or obligation to you.

    NOT ALL LAW FIRMS ARE THE SAME. Before you hire a law firm, you should talk to a lawyer and ask:

    1. Do you file class actions and go to Court?
    2. When was the last time you recovered money for shareholders?
    3. What cases did you recover money in and how much?

    About Monteverde & Associates PC

    Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court. 

    No company, director or officer is above the law. If you own common stock in the above listed company and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

    Contact:
    Juan Monteverde, Esq.
    MONTEVERDE & ASSOCIATES PC
    The Empire State Building
    350 Fifth Ave. Suite 4740
    New York, NY 10118
    United States of America
    jmonteverde@monteverdelaw.com
    Tel: (212) 971-1341

    Attorney Advertising. (C) 2024 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.

    The MIL Network –

  • MIL-OSI: Hut 8 Operations Update for October 2024

    Source: GlobeNewswire (MIL-OSI)

    20.1 EH/s and 967 MW under management in mining with path to ~35 EH/s

    Vega site buildout advancing on track for Q2 2025 energization

    MIAMI, Nov. 05, 2024 (GLOBE NEWSWIRE) — Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners, today released its operations update for October 2024.

    “Following the announcement of our partnership with BITMAIN to launch the U3S21EXPH with a 15 EH/s hosting deployment, progress continues on our 205-megawatt Vega site, which will feature the custom rack-based architecture we developed in-house for the project,” said Asher Genoot, CEO of Hut 8. “With groundwork progressing rapidly, we are on track to energize the site in Q2 2025. Our hosting agreement with BITMAIN is expected to generate up to $135 million in annualized revenue on a fully ramped basis.”

    “In parallel, we are preparing our existing sites for a near-term fleet upgrade as we finalize a commercial agreement. At Salt Creek, we launched an immersion cooling pilot as we continue to advance our technological innovation efforts. More broadly, we are focused on identifying further opportunities for technical and commercial innovation as we advance discussions for large-scale AI data center development opportunities across multiple sites in our development pipeline.”

    Highlights:

    • Groundwork at Vega progressing on track for Q2 2025 energization with ~15 EH/s hosting deployment of U3S21EXPH ASIC miner
    • Began preparing existing sites for expected near-term ASIC fleet upgrade
    • Launched immersion cooling pilot at Salt Creek as part of continued technological innovation efforts
    • Advanced discussions for large-scale AI data center development opportunities across multiple sites in development pipeline

    Operating Metrics

    Average during the period unless otherwise noted October 2024 September 2024
    Total energy capacity under management (mining)1,2 967 MW3 762 MW
    Total deployed miners under management4 194.2K 189.9K
    Total hashrate under management5 20.1 EH/s 19.5 EH/s
         
    Self-Mining6    
    Deployed miners7 57.1K 58.6K
    Deployed hashrate8 5.6 EH/s 5.6 EH/s
    Bitcoin produced1,9 100 BTC 85 BTC
    Bitcoin on balance sheet1 9,110 BTC 9,106 BTC
         
    Managed Services10    
    Energy capacity under management1 582 MW 582 MW
    Deployed miners under management 146.5K 140.8K
    Hashrate under management 15.5 EH/s 14.9 EH/s
         
    Hosting    
    Deployed miners under management11,12 76.7K 76.7K
    Hashrate under management13 8.5 EH/s 8.6 EH/s
         

    Energy Infrastructure Platform1

            Current/Contracted Revenue Stream(s)14
    Site Location Owner15 Power
    Capacity    		 Self-
    Mining    		 Managed
    Services    		 Hosting HPC Power
    Sales
    Vega16 Texas Panhandle Hut 8 205 MW     Yes17    
    Medicine Hat Medicine Hat, AB Hut 8 67 MW Yes        
    Salt Creek Orla, TX Hut 8 63 MW Yes        
    Alpha Niagara Falls, NY Hut 8 50 MW Yes   Yes    
    Drumheller18 Drumheller, AB Hut 8 42 MW          
    Kelowna Kelowna, BC Hut 8 1.1 MW       Yes  
    Mississauga Mississauga, ON Hut 8 0.9 MW       Yes  
    Vaughan Vaughan, ON Hut 8 0.6 MW       Yes  
    Vancouver II Vancouver, BC Hut 8 0.5 MW       Yes  
    Vancouver I Vancouver, BC Hut 8 0.3 MW       Yes  
    King Mountain19 McCamey, TX Hut 8 (JV) 280 MW Yes Yes Yes   Yes
    Iroquois Falls20 Iroquois Falls, ON Hut 8 (JV) 120 MW         Yes
    Kingston20 Kingston, ON Hut 8 (JV) 110 MW         Yes
    North Bay20 North Bay, ON Hut 8 (JV) 40 MW         Yes
    Kapuskasing20 Kapuskasing, ON Hut 8 (JV) 40 MW         Yes
    Cedarvale3,16 Barstow, TX Managed 215 MW   Yes      
    East Stiles Midland, TX Managed 30 MW   Yes      
    Rebel Midland, TX Managed 25 MW   Yes      
    Stiles Midland, TX Managed 20 MW   Yes      
    Garden City Midland, TX Managed 12 MW   Yes      
    Total     1,322 MW          
                     

    Conference Call to Discuss Third Quarter 2024 Results

    Who: Analysts, media, and investors are invited to attend.
    What: Hut 8 executives will review the Company’s financial results for the third quarter of 2024.
    When: Results will be shared via media release and on the Company’s website at https://hut8.com/investors/ on November 13 2024. The conference call and webinar will begin at 8:30 a.m. ET.
    Where: The webcast can be viewed at: https://www.hut8.com/q3-2024/.
      Analysts can register here.
       

    Upcoming Conferences & Events:

    • November 13–14, 2024: Cantor Fitzgerald Crypto, Digital Assets & AI Infrastructure Conference 2024
    • November 19, 2024: Craig-Hallum 15th Annual Alpha Select Conference
    • November 19, 2024: Benzinga Future of Digital Assets Conference 2024

    Notes:

    (1) As of the end of the period
    (2) Energy capacity under management (mining) includes (i) 180 MW of self-mining sites comprised of Alpha, Medicine Hat, and Salt Creek, (ii) 205 MW of hosting capacity at Vega, which is currently under construction, (iii) 280 MW of capacity under management at King Mountain, and (iv) 302 MW from Hut 8’s Managed Services agreement with Ionic, assuming full 215 MW of capacity at Cedarvale, which was first energized in April and is currently under construction.
    (3) Starting October 2024, Hut 8 includes the full 205 MW of capacity at Vega as energy capacity under management (mining) as Vega is expected to host miners for BITMAIN. This was not reflected in Hut 8’s September 2024 figure.
    (4) Includes all miners that are racked with power and networking, rounded to the nearest 100, in Self-Mining, Managed Services, and Hosting infrastructure with power and networking, including all miners at the King Mountain site.
    (5) Includes all Self-Mining, Managed Services, and Hosting hashrate, including 100% of the hashrate at the King Mountain site.
    (6) Self-Mining operations for Hut 8 include 100% of operations at the King Mountain site.
    (7) Deployed miners are defined as those physically racked with power and networking, rounded to the nearest 100; deployed self-mining miners net of the 50% share of the King Mountain JV held by Hut 8’s joint venture partner was 48.2K during October and 49.6K during September.
    (8) Indicates the target hashrate of all deployed miners; deployed self-mining hashrate net of the 50% share of the King Mountain JV held by Hut 8’s joint venture partner was 4.7 EH/s during September and August, respectively.
    (9) Bitcoin produced net of the 50% share of the King Mountain JV held by Hut 8’s joint venture partner was 83 BTC during October and 72 BTC during September.
    (10) Managed services include (i) 280 MW of capacity under management at King Mountain and (ii) 302 MW from Hut 8’s Managed Services agreement with Ionic, assuming full 215 MW of capacity at Cedarvale, which was first energized in April and is currently under construction.
    (11) Miners are rounded to the nearest 100.
    (12) 42.6K deployed miners under management net of the 50% share of the King Mountain JV held by Hut 8’s joint venture partner during October and September, respectively.
    (13) 4.7 EH/s under management net of Hut 8’s joint venture partner’s 50% share of the King Mountain JV during October and September, respectively.
    (14) Reflects revenue sources to Hut 8, its subsidiaries, and/or joint ventures in which they participate.
    (15) Owned denotes ownership of power infrastructure at owned or leased data center locations, except for HPC sites where owned denotes ownership of mechanical and electrical infrastructure at leased data center locations.
    (16) Site is currently under development.
    (17) Anticipated to begin generating revenue by Q2 2025.
    (18) Site currently shut down; Hut 8 maintaining lease with option value of re-energizing site.
    (19) Owned by a JV between Hut 8 and a Fortune 200 renewable energy producer in which Hut 8 has an approximately 50% membership interest.
    (20) Owned by a JV between Hut 8 and Macquarie in which Hut 8 has an approximately 80% membership interest.
       

    About Hut 8

    Hut 8 Corp. is an energy infrastructure operator and Bitcoin miner with self-mining, hosting, managed services, and traditional data center operations across North America. Headquartered in Miami, Florida, Hut 8 Corp. has a portfolio comprising twenty sites: ten Bitcoin mining, hosting, and Managed Services sites in Alberta, New York, and Texas, five high performance computing data centers in British Columbia and Ontario, four power generation assets in Ontario, and one non-operational site in Alberta. For more information, visit www.hut8.com and follow us on X (formerly known as Twitter) at @Hut8Corp.

    Cautionary Note Regarding Forward–Looking Information

    This press release includes “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, “forward-looking information”). All information, other than statements of historical facts, included in this press release that address activities, events or developments that Hut 8 expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion and growth of the business, operations, plans and other such matters is forward-looking information. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “allow”, “believe”, “estimate”, “expect”, “predict”, “can”, “might”, “potential”, “predict”, “is designed to”, “likely” or similar expressions. Specifically, such forward-looking information included in this press release includes statements relating to the execution, timing and potential revenues for the hosting deployment at our Vega site, the timing and completion of a fleet upgrade, and the advancement of the Company’s pipeline.

    Statements containing forward-looking information are not historical facts, but instead represent management’s expectations, estimates and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to, security and cybersecurity threats and hacks; malicious actors or botnet obtaining control of processing power on the Bitcoin network; further development and acceptance of the Bitcoin network; changes to Bitcoin mining difficulty; loss or destruction of private keys; increases in fees for recording transactions in the Blockchain; erroneous transactions; reliance on a limited number of key employees; reliance on third party mining pool service providers; regulatory changes; classification and tax changes; momentum pricing risk; fraud and failure related to digital asset exchanges; difficulty in obtaining banking services and financing; difficulty in obtaining insurance, permits and licenses; internet and power disruptions; geopolitical events; uncertainty in the development of cryptographic and algorithmic protocols; uncertainty about the acceptance or widespread use of digital assets; failure to anticipate technology innovations; the COVID19 pandemic, climate change; currency risk; lending risk and recovery of potential losses; litigation risk; business integration risk; changes in market demand; changes in network and infrastructure; system interruption; changes in leasing arrangements; failure to achieve intended benefits of power purchase agreements; potential for interrupted delivery, or suspension of the delivery, of energy to mining sites and other risks related to the digital asset mining and data center business. For a complete list of the factors that could affect Hut 8, please see the “Risk Factors” section of Hut 8’s Transition Report on Form 10-K, available under the Company’s EDGAR profile at www.sec.gov, and Hut 8’s other continuous disclosure documents which are available under the Company’s SEDAR+ profile at www.sedarplus.ca and EDGAR profile at www.sec.gov.

    Hut 8 Corp. Investor Relations
    Sue Ennis
    ir@hut8.com

    Hut 8 Corp. Media Relations
    media@hut8.com

    The MIL Network –

  • MIL-OSI Submissions: Universities – EDF Australia and Swinburne University of Technology announce strategic partnership to drive energy transition

    Source: Swinburne University of Technology

    6 November 2024 – Swinburne University of Technology and EDF Australia have joined forces in a partnership to launch a ground-breaking program to drive innovation for the energy transition. The partnership, funded by the Franco-Australian Centre for Energy Transition (FACET), will foster innovation for startups and will support Australia’s decarbonisation goals.

    While continued investment in traditional clean energy infrastructure remains essential for Australia to reach its net-zero targets, investment in innovation is needed to fully decarbonise the Australian economy. The urgency of the climate crisis is clearer than ever, highlighting the need for diverse solutions to reduce carbon emissions across all sectors and industries. The program will identify and support startups developing ground-breaking and innovative solutions to address key challenges in areas such as energy storage technologies, transmission infrastructure, alternative clean fuel developments and the decarbonisation of existing industrial assets.

    EDF Australia CEO James Katsikas emphasised the partnership aims to deliver a unique opportunity for startups to work with major industrials and to test these innovative solutions in real-life conditions.

    “We are deeply committed to the global fight against climate change. As an organisation we spend over A$1B annually on research and development to ensure we remain at the cutting edge of energy innovation. This partnership enables us to combine that global expertise with local innovation to work alongside dynamic startups and find new and impactful solutions that can accelerate Australia’s energy transition.”

    “We will aim to provide startups with essential commercial and technical support, fostering collaboration and driving sustainable technological advancements.”

    “Ultimately our investment in this program will assist us to deliver better outcomes in the infrastructure projects we are developing across Australia.”

    The collaboration marks Swinburne Innovation Studio’s first FACET grant and will combine the expertise of Swinburne Innovation Studio and EDF Australia.

    Swinburne Vice-President of Innovation and Enterprise, Dr Werner van der Merwe, highlighted the importance of this program.

    “This collaboration with EDF Australia reflects our commitment to delivering impactful solutions to address one of the greatest challenges of our time.”

    Director of Swinburne’s Innovative Planet Research Institute Professor Allison Kealy agreed and highlighted the need to address energy challenges.

    “The transition to a sustainable energy future requires bold, innovative thinking, and partnerships like this one play a crucial role.”

    “This partnership will enable us to leverage our combined expertise in technology commercialisation to make meaningful progress in energy storage, transmission and decarbonisation efforts.”

    MIL OSI – Submitted News –

  • MIL-OSI Canada: Province Announces Memorial to Honour Justice Murray Sinclair

    Source: Government of Canada regional news

    November 5, 2024

    Province Announces Memorial to Honour Justice Murray Sinclair

    Today the Manitoba government announced plans to honour the life of Murray Sinclair, the first Indigenous judge to be named to the Manitoba provincial court and the Court of Queen’s Bench of Manitoba.

    Starting tomorrow, a book of condolences will be placed at the base of the Grand Staircase in the Manitoba Legislative Building. Members of the public are invited to begin signing the book starting tomorrow through Sunday, Nov. 10 from 8 a.m. to 8 p.m.

    The province, alongside the Government of Canada, is organizing a memorial for Sinclair, which will take place Sunday, Nov. 10 at Canada Life Centre. Doors open to the public at 1 p.m. and the service will begin at 2 p.m. Books of condolences will also be available to sign at the memorial.

    Additionally, tomorrow from 10 a.m. to 2 p.m., there will be a public visitation at Centro Caboto Centre. While this event is open to the public, it is not open to the media. This will be a sacred event that cannot be photographed or filmed. Members of the public are prohibited from using cameras, recording equipment and personal devices to capture the event.

    A book of condolence will also be available at the Caboto Centre during the public viewing time on Wednesday, Nov. 6 from 10 a.m. to 2 p.m.

    The flags at the Legislative Building in Winnipeg and Parliament Building in Ottawa will stay lowered to half-mast until after the memorial on Sunday.

    – 30 –

    MIL OSI Canada News –

  • MIL-OSI USA: Governor Parson Signs Executive Order 24-14 Activating State Emergency Operations Plan in Response to Flooding and Severe Weather

    Source: US State of Missouri

    NOVEMBER 5, 2024

    Jefferson City — Today, Governor Mike Parson signed Executive Order 24-14 activating the Missouri State Emergency Operations Plan in response to flooding and severe weather. Parts of Missouri have already sustained flood and storm damage with additional impacts expected as river levels begin to crest and floodwaters recede.  

    “With several areas of Missouri already impacted by this week’s storms and heavy rainfall, we want to ensure state resources are available should further disruptions or damage occur,” Governor Parson said. “This action enables the state to be better prepared and ready to assist our communities with response and recovery. We urge Missourians to follow the direction of local authorities and emergency managers, use extra caution on the roads, and never drive into floodwaters.”

    Executive Order 24-14 will expire on December 5, 2024, unless otherwise terminated or extended. To view Executive Order 24-14, click here.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Agriculture – Breeding for low methane a winning approach for productivity and environment – AgResearch

    Source: AgResearch

    Livestock can be bred for lower methane emissions while also improving productivity at a rate greater than what the industry is currently achieving, research has shown.

    AgResearch scientists today presented their analysis to the joint New Zealand Society of Animal Production and New Zealand Grassland Association conferences in Oamaru, which challenges assumptions from critics that breeding for a low methane trait will be at the expense of key genetic traits for productivity.

    The scientists drew on data from a performance recorded sheep flock maintained by AgResearch, which is also recorded for methane emissions, compared to average dual-purpose sheep on a NZ production index incorporating reproduction, survival, growth and adult size traits.

    “We investigated if the rate of reduction in methane emissions that has been seen in our low methane flock over the past six years was sufficient to achieve New Zealand’s targeted methane reductions by the year 2050,” says AgResearch scientist John McEwan.

    “Assuming the rate of methane reduction of 0.95% per year as has been shown in the flock so far will be maintained, and accounting for the genetic lag for use of rams in commercial flocks, the result we reached was a 27% decrease in commercial flocks methane emissions by the year 2050, while increasing per head productivity  (using the current Beef + Lamb New Zealand Genetics index) by $51.80.”

    The current New Zealand target is to reduce biogenic methane emissions by 24 to 47 per cent below 2017 levels; however, the methane targets are currently being reviewed. Productivity gains are also in the sights of the Government, with a goal of doubling exports by value within a decade.    

    “Continuation with current industry progress would achieve a 2.8% reduction in methane emissions and $30.80 increase in per head productivity. In other words, methane emissions can be reduced while also increasing productivity faster than current industry progress,” McEwan says.

    “While our analysis does not account for all factors, it does suggest that genetic selection, if appropriately applied, could contribute a substantial proportion of the currently proposed reduction in methane emissions from the sheep industry. And it can be done without any change in ewe numbers.”

    “The fact that these results have been obtained from a B+LNZ Genetics recorded flock and using the current industry breeding evaluation system adds strength to the fact that this is possible using existing industry tools available to all New Zealand breeders.

    The challenge is its rapid adoption by the industry.”

    Find out more about breeding for low methane, and the research partnership with industry, at:https://www.agresearch.co.nz/our-research/low-methane-sheep/; and learn more about the related Cool Sheep programme at: https://www.blnzgenetics.com/cool-sheep-programme.

    AgResearch’s core focus is to deliver high quality science to enhance the value, productivity and sustainability of New Zealand’s pastoral, agri-food and agri-technology sectors. More at www.agresearch.co.nz

    MIL OSI New Zealand News –