Source: European Central Bank (video statements)
Welcome address
Pablo Hernández de Cos, Chair of the Advisory Technical Committee, and former Governor of Banco de España.
Pablo Hernández de Cos, in his capacity as Chair of the ESRB Advisory Technical Committee, and former Governor of Banco de España, opened the second day of the conference (pre-recorded).
Keynote speech by Olli Rehn, ESRB First Vice-Chair, Governor of Suomen Pankki.
Source: European Central Bank (video statements)
This panel discussion aims to explore how AI is reshaping the landscape of financial stability and systemic risk, from the perspective of industry practitioners and academics. The panel addressED both opportunities and challenges that lie ahead in integrating advanced AI technologies within Europe’s financial system.
Chair: Andréa Maechler, Deputy General Manager, Bank for International Settlements
Panellists:
Zanna Iscenko, Principal Economist, Google
Sudeep Kesh, Chief Innovation Officer, S&P Global Ratings
Robin Lumsdaine, Professor, American University, Member of the ESRB Advisory Scientific Committee
Dirk Zetzsche, Professor, University of Luxembourg
Source: European Central Bank (video statements)
The ESRB’s Advisory Scientific Committee awards the Ieke van den Burg prize to recognise outstanding research conducted by young scholars on a topic related to the ESRB’s mission. Tsvetelina Nenova presented her paper “Global or Regional Safe Assets: Evidence from Bond Substitution Patterns”, which has won the 2024 Edition of the prize.
Chair: Loriana Pelizzon, Professor, SAFE/Goethe University, Vice-Chair of the ESRB Advisory Scientific Committee
Winner: Tsvetelina Nenova, Economist, Bank for International Settlements
MILES AXLE Translation. Region: Russian Federation –
Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.
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The authors of more than 200 films are competing for the prizes of the Far East – Land of Adventures competition
207 films have been admitted to the jury of the All-Russian competition “Far East – Land of Adventures”, as reported by the initiator of the project, Deputy Prime Minister – Plenipotentiary Representative of the President in the Far Eastern Federal District Yuri Trutnev.
“The Russian Far East is vast and beautiful. Any tourist or traveler can find a vacation to their taste here: from hiking to routes of varying difficulty, and all this in different climate zones. The “Far East – Land of Adventure” competition is important for making active tourism more popular. It brought together travelers and bloggers who made films about the macro-region, introducing millions of Russians to the unique places of the Far Eastern regions. This year, the jury of the competition is selecting the best trips for the second time. This is not an easy job. The authors of more than 200 films are competing for prizes. And I am sure that the jury, whose members are real professionals, will choose the best of the best,” said Yuri Trutnev.
The largest number of films are about travels in the Sakhalin Region and the Amur Region – 52 and 34 films. In addition, 31 films about adventures in the Khabarovsk Region, 26 materials about travels in the Primorsky Region, 18 – in the Jewish Autonomous Region, 13 – in the Kamchatka Region, 10 – in the Republic of Buryatia, 7 – in the Magadan Region, 6 – in the Republic of Sakha (Yakutia), 6 and 4 films were filmed in the Zabaikalsky Region and the Chukotka Autonomous Okrug.
Residents of Khabarovsk Krai, Sakhalin Oblast and Amur Oblast most often went on trips. However, residents of other regions also take part in the competition – for example, residents of Moscow and the Moscow Oblast, Altai Krai, Irkutsk, Kaluga, Kirov and Ryazan Oblasts sent films about their trips.
The travelers went on hikes of varying difficulty: some went on a one-day hike to Mount Lysaya via the Benevskiye waterfalls in Primorsky Krai, while more experienced tourists conquered the hard-to-reach Dusse-Alin ridge in Khabarovsk Krai over 15 days. The contest participants traveled both in the company of friends, close relatives, and alone.
Applications for participation in the second season of the all-Russian competition for the best trip to the Far East “Far East – Land of Adventures” are accepted until December 30. In order to take part, you need to make a short film up to 8 minutes long about your trip to the Far East and send it to the jury for evaluation on the website puteshestvendv.rf. Works from previous years are also accepted: the trip must have been made no earlier than September 1, 2022 and no later than December 30, 2024.
The main prize for the best video about a trip to the Far East is 3 million rubles, for winning one of the nominations you can get 1 million rubles, for second place in the nominations – 300 thousand rubles, third place in the nominations – 100 thousand rubles. Moreover, the governor of the Chukotka Autonomous Okrug Vladislav Kuznetsov introduced a separate prize of 1 million rubles, which will be raffled off among participants who have declared a trip to Chukotka.
It should be noted that not only experienced travelers, but also children accompanied by adults can take part in the competition. Among the winners of the first season were both professionally shot films and footage captured on a regular phone. Based on the results of the competition, the best works of the winners and prize-winners will be broadcast on the air broadcasting grid of regional TV channels, and the reporting information and videos will be added to the interactive map of tourist routes of the Far East regions.
The best video materials will be selected by the jury members, including: TV journalist, author and host of the TV show “Neputevye Zametki” Dmitry Krylov, Arctic traveler, video blogger Bogdan Bulychev, TV host Valdis Pelsh, head of the project “More than a Journey” Olesya Teterina, State Duma deputy, author and host of the TV show “How the World Works” Timofey Bazhenov, producer of the VK project “Places” Nikita Afinogenov and other experienced travelers. In addition, the winners of the first season of the competition will take part in the evaluation of the works: Elena Poddubnaya, Ernest Leonidov, Alisa Slyshchenko.
The competition is being held on the initiative of Deputy Prime Minister and Presidential Plenipotentiary Representative in the Far Eastern Federal District Yuri Trutnev with the support of the Office of the Presidential Plenipotentiary Representative in the Far Eastern Federal District, the Ministry for the Development of the Russian Far East, JSC Far East and Arctic Development Corporation, and the NGO Social Initiatives Development Fund.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.
http://government.ru/nevs/52856/
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.
Source: The Conversation – UK – By Adelene Buckland, Reader in Nineteenth-Century Literature, King’s College London
How do you cast Wuthering Heights, Emily Bronte’s 1847 novel about a child so brutalised by his adoptive family that he drives his pregnant love to death? Not, it would seem, like Emerald Fennell, the latest director to attempt it.
Fennell’s previous projects include the Oscar-winning A Promising Young Woman (2020) and Netflix hit Saltburn (2023), but she has been under fire for casting Jacob Elordi and Margot Robbie in the lead roles of Heathcliff and Catherine, two teenagers on the wild, 19th-century Yorkshire moors. As tanned Australian actors aged 27 and 34, best known for playing Elvis and Barbie, it is hard to imagine how they can pull this off.
But has anybody ever got Heathcliff and Catherine right?
Lawrence Olivier was nominated for an Oscar for playing Heathcliff in 1939, but his clipped, Royal Shakespeare Company gentlemanliness hardly befitted the “savage vehemence” of the role. Heathcliff is an orphan, probably picked up on the Liverpool docks, bullied for looking like “a dark-skinned gypsy”, “a little Lascar, or an American or Spanish castaway” (a lascar was a sailor or militiaman often from Asia). Among his many eventual crimes, he tortures puppies and beats children. But the Olivier movie staged the novel as a classic Hollywood romance.
Until very recently other directors followed suit, cutting the story’s more brutal elements (including most of its second half) and casting dashing (white) leads like Timothy Dalton (1970) and then-newcomer Ralph Fiennes (1992). In the latter film, Juliette Binoche’s Catherine had a notably French accent. (Maybe best not to mention Cliff Richard’s 1996 musical, in which, at 56, he was panned for playing a teenage Heathcliff as a pop idol.)
As the director of a 2011 BBC Radio Three adaptation put it, Wuthering Heights is not supposed to be “a Vaseline-lensed experience”. But it has been mostly sold that way.
Perhaps the only director to capture the nightmarishness of Bronte’s text is Andrea Arnold, who in 2011 cast untrained actors in the central roles, including a black actor, James Howson, as Heathcliff. At the time, some critics even found that decision controversial. But the casting was a turning point, and Arnold’s bleak, almost wordless, adaptation changed the game.
In 2024, audiences are more aware that casting a white actor like Elordi as Heathcliff is not only to undersell the novel as romance, but to wilfully ignore the imperialism in the text.
There is evidence to suggest that Heathcliff’s story was at least partly inspired by a local slave-owning family, the Sills, who, as well as making their money from sugar plantations in Jamaica, had 30 enslaved Africans working on their home estate in Yorkshire.
Also, as mentioned, characters speculate about Heathcliff’s race throughout. For instance, Nelly Dean, Cathy’s family’s servant, wonders whether “[his] father was Emperor of China, and [his] mother an Indian queen.” He is clearly not white.
Still, in going in the opposite direction to Arnold, Fennell’s film might offer us something new.
The novel is difficult to film not only because it depicts human beings at their most primal, but also because it is so strangely told. Bronte rarely shows us Catherine or Heathcliff firsthand. We learn their tale through an uninitiated southerner, Lockwood, who himself hears much of the story from a servant with unreliable passions of her own.
Key scenes in the novel have an emotional realism drawn not only from the rough-hewn Yorkshire rocks but also from gothic melodrama: Catherine’s ghost literally bleeds as it grasps Lockwood through a window; Heathcliff digs up Catherine’s grave just “to have her in my arms again”. If this is realism, it is so extreme it borders on the theatrical.
And this is where Fennell excels. Saltburn’s bathtub scene is infamous for body horror, but mostly it depicts an urgent need to consume and be consumed by another. Saltburn also has its own graveside scene, which clearly echoes Heathcliff’s necrophiliac desires in Wuthering Heights.
I would argue there can be no justification for casting a white actor as Heathcliff, and it is to be hoped that Fennell rethinks this decision. But perhaps there is also something to be gained from having a Heathcliff and Catherine with the glitzy theatricality of Elvis and Barbie. Fennell isn’t going to give us the Catherine and Heathcliff we have come to expect, but it is possible she will evoke the passion the characters deserve.
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Adelene Buckland does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
– ref. Wuthering Heights casting row: most adaptations struggle with picking the right Heathcliff and Cathy, but we deserve better in 2024 – https://theconversation.com/wuthering-heights-casting-row-most-adaptations-struggle-with-picking-the-right-heathcliff-and-cathy-but-we-deserve-better-in-2024-240128
Source: Google
There are few more pressing questions facing European governments than how to drive economic growth and make the region more competitive. And it’s clear that one of the most important ways to boost the EU’s competitiveness is by harnessing AI for growth.
A new report by Implement Consulting Group, commissioned by Google, estimates that generative AI could add €1.2-1.4 trillion to the EU’s GDP in ten years – the equivalent to an annual growth rate of 8%. The report also outlines how AI can significantly boost productivity across various sectors.
This ability of generative AI to boost economic growth and competitiveness is particularly significant for Europe. According to Mario Draghi’s new report, Europe’s competitiveness has nosedived over the past decades: the EU’s share of global GDP has shrunk from over a quarter in 1980 to just 17% today. US productivity has surpassed the EU’s by 20% in 2022.
But this report is about more than economic metrics — it’s about how AI can help people be more productive, fuel growth and support long term sustainable jobs of the future. 74% of workers in European countries see productivity-enhancing effects of generative AI, and 43% of workers in European countries expect AI to positively impact their job. Our new report estimates that the majority (61%) of jobs will be augmented by generative AI while around 7% face a long-term transition to automation. As with previous transitions, like the birth of commercial aviation or the worldwide web, new industries and careers will be made entirely possible by AI powered breakthroughs. This impact has the potential to be felt across society — from enhancing the quality and efficiency of public services to unlocking scientific breakthroughs and alleviating labor shortages by freeing up resources and boosting productivity.
Europe’s productivity gap is largely down to slower technological development, innovation and adoption. As Mario Draghi says, “with the world on the cusp of an AI revolution, Europe cannot afford to remain stuck in the ‘middle technologies and industries’ of the previous century”. To catch up, the EU must unlock its innovative potential.
This is why today, in addition to our Economic report, we’re also releasing our AI Opportunity Agenda: a series of recommendations for governments to seize the full economic and societal potential of AI. The Agenda outlines the need to revisit Europe’s workforce strategy, as well as investment in AI infrastructure and research, adoption and accessibility.
1. Investing in research and development
For the EU to truly compete in AI, it needs to make research and development a shared priority, as well as making funding more accessible. Without the right incentives to develop and commercialise AI innovation, Europe is stifling its talent and its chances of launching more home-grown tech unicorns.
2. Building infrastructure to support innovation
AI breakthroughs are only possible with the right high-performance computing technologies and data centres — and the renewable energy to support them. To enable AI innovation at scale, the EU will need to allocate more funding to financing such infrastructure — as well as incentivising and enabling the private sector to do the same.
3. Improving skills and training programmes
Technological growth will not be effective if people are left behind. Given its diversity, the EU must make sure technology benefits every business, economy and person. To do this, it needs to accelerate digital skills transformation, putting AI skills and education at the centre of a revitalised European Skills Agenda — and adding it to school curriculums.
4. Promoting widespread adoption
We ultimately need to ensure that AI is applied and deployed in a universally accessible and useful way. For the private sector, EU policymakers and AI developers must work together to develop outreach strategies to traditional industries and small businesses who have much to gain from AI adoption. For the public sector, member states must double down on existing initiatives to increase the public procurement of AI and developing bolder AI adoption targets.
Developing good policy and responsible AI will need close coordination between governments, the private sector, academia and civil society. Through our AI Opportunity Initiative and other partnerships we’re committed to working with others to get this right. But, as Mario Draghi highlighted, change is also needed in the regulatory environment. Since 2019, the EU has introduced over 100 pieces of legislation that impact the digital economy and society. It’s not just the sheer number of regulations that’s the challenge – it’s the complexity. Moving from the regulatory-first approach can help to unlock the opportunity of AI.
In many ways, Europe is well-positioned to seize this moment. AI has the potential to help us build a better, fairer, healthier society — and to support competitiveness and inclusive growth.
The researchers previously found a monotonous ‘white noise’ – set at 80 dB sound pressure level – also increased a similar response in soil bacteria E. Coli.
“Think of the monotone sound an old-school radio makes in between channels,” explains Dr Robinson.
Source: Amnesty International –
The MV Kathrin, a Portuguese-flagged vessel reportedly carrying explosives bound for Israel, is currently heading for Montenegro and Slovenia
Ship is believed to be carrying eight containers of components for aircraft bombs and missiles
‘The deadly cargo believed to be on board the MV Kathrin must not reach Israel’ – Nataša Posel
Slovenia and Montenegro must stop the Portuguese-flagged vessel MV Kathrin – believed to be carrying explosives bound for Israel – from docking at their ports given the clear risk that such cargo would contribute to the commission of war crimes in Gaza and Lebanon, Amnesty International said today.
According to the Namibian government and Portugal’s Foreign Minister, the MV Kathrin’s cargo includes explosives destined for Israel.
In August, the Namibian authorities refused to allow the vessel to enter its main harbour citing information from the ship’s operator that its cargo includes eight containers of RDX Hexogen explosives bound for Israel. Statements from the Slovenian Prime Minister’s office and the Portuguese Foreign Minister indicate that the ship is heading for Montenegro and also for Slovenia’s port of Koper, where it will offload its cargo. It is unclear how the cargo will then reach Israel.
On 31 August, Francesca Albanese, the United Nations Special Rapporteur on the Occupied Palestinian Territories, said that eight containers of explosives aboard MV Kathrin “are reportedly key components in the aircraft bombs and missiles” used by Israel against Palestinians. Albanese called on all countries to block the ship from docking at their harbours.
Countries which continue to transfer arms to Israel are acting in contravention of their obligations under Common Article 1 of the Geneva Conventions and must act to prevent all such transfers with urgency. Furthermore, as state parties to the international Arms Trade Treaty, Montenegro, Portugal and Slovenia have committed to establishing the highest possible common international standards for regulating the international trade in conventional arms for the purpose of reducing human suffering. As the flag state, Portugal must not use its vessel to transfer the explosives or must remove its flag so as not to assist in the transfer.
Amnesty has documented extensive evidence of war crimes committed by all parties to the most recent escalation of the conflict in Israel and the Occupied Palestinian Territory using a wide variety of arms. Amnesty research shows that the Israeli military has used explosive weapons to carry out direct attacks on civilians and civilian objects and indiscriminate attacks in Gaza, blocked humanitarian assistance and collectively punished Palestinians over the past year.
Nataša Posel, head of Amnesty International Slovenia, said:
“The deadly cargo believed to be on board the MV Kathrin must not reach Israel as there is a clear risk that such cargo would contribute to the commission of war crimes against Palestinian civilians.
“Namibia rightfully upheld its international obligations by ensuring that the MV Kathrin did not transit military cargo to Israel through its port.
“Now it is up to Slovenia, Montenegro and all other states to do the same and avoid facilitating an unlawful transfer.
“Amnesty International is calling for an immediate arms embargo on Israel and on Palestinian armed groups in Gaza due to their use of weapons to carry out war crimes and other serious violations.
“Any state that knowingly transfers arms to the parties in this ongoing conflict, including via transit of ships carrying arms and explosives, risks breaching their obligation not to encourage, aid or assist in violation of the Geneva Conventions. Portugal, Slovenia and Montenegro must not facilitate any such weapons transfer to Israel.”
On 21 July, the MV Kathrin embarked with its cargo from Vietnam’s Hai Phong port.
On 24 August, the Namibian authorities revoked previously-granted permission for the MV Kathrin to enter Namibia’s main harbour, citing information from the ship’s operator that some of the explosives on board were destined for Israel. This decision was based on concerns of potential complicity in war crimes in Gaza. The MV Kathrin was scheduled to dock at Namibia’s Walvis Bay on 25 August.
Source: GlobeNewswire (MIL-OSI)
Anchorage Digital converted entire ~$38 million loan balance to common shares at a price of $16.395 per share
Strengthens Company’s financial position as it advances pipeline of AI and mining infrastructure opportunities
MIAMI, Oct. 01, 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 announced the conversion of the entire ~$38 million outstanding balance of its subsidiary’s outstanding loan with Anchorage Lending CA, LLC, a subsidiary of Anchor Labs, Inc. d/b/a Anchorage Digital (“Anchorage Digital”), into common stock of the Company (the “Conversion”).
“Hut 8 stands out for its conviction to innovation — it’s a key reason that we originally backed them with a loan, and it’s the same reason we’ve now converted that debt to equity,” said Nathan McCauley, Co-Founder and CEO of Anchorage Digital. “In an evolving market, Hut 8 has proven that they can adapt to meet the moment and come out stronger — for the benefit of the company and the digital asset ecosystem at large. We value that kind of resilience on our balance sheet, and our new ownership stake makes that clear.”
“Our relationship with Anchorage Digital has been instrumental to our growth,” said Asher Genoot, CEO of Hut 8. “We are grateful for their continued support as we scale and diversify our business while maintaining an unwavering focus on disciplined and creative capital deployment.
“With a strengthened balance sheet and decreased leverage, we believe we are even better positioned to advance discussions with prospective counterparties and execute on the development of next-generation mining and AI data centers.”
Key Transaction Terms
Anchorage Digital has converted the ~$38 million outstanding balance of the loan at a price of $16.395 per share of common stock of Hut 8 pursuant to a Debt Repayment Agreement (the “Debt Repayment Agreement”). The share price represents a 51% premium to the 20-Day VWAP through September 26, 2024, the day prior to the signing of the Debt Repayment Agreement.
Upon completion of the Conversion, the outstanding loan and all other related obligations of the Company and its subsidiaries have been satisfied.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
Additional information, including the Debt Repayment Agreement, is available in the Form 8-K that the Company will file with the Securities and Exchange Commission.
Upcoming Conferences & Events
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 newly announced site in the Texas Panhandle. For more information, visit http://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 Company’s advancement of its AI and mining infrastructure pipeline and the Company’s ability to continue scaling and diversifying its business while maintaining an unwavering focus on disciplined and creative capital deployment.
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 http://www.sec.gov, and Hut 8’s other continuous disclosure documents which are available under the Company’s SEDAR+ profile at http://www.sedarplus.ca and EDGAR profile at http://www.sec.gov.
Hut 8 Corp. Investor Relations
Sue Ennis
ir@hut8.com
Hut 8 Corp. Media Relations
media@hut8.com
Source: Bundesbank
Check against delivery.
Ladies and gentlemen,
Good morning and welcome to the Conference on Markets and Intermediaries, an event jointly organised by the Bundesbank and the Humboldt-Universität zu Berlin.
In my opening speech, I will take you on a helicopter tour of the programme and share some thoughts on the topics that will be covered over the next two days. The programme certainly does cover a wide range of topics. It addresses current challenges facing financial markets, financial intermediaries, and central banks.
Since the Great Financial Crisis, central banks worldwide have expanded their balance sheets, injected additional liquidity into the financial system, and broadened their collateral frameworks. In addition, financial regulation has been adapted to make the financial system more stable.
While these measures served useful purposes, they also had side effects, not least in money and capital markets. Policymakers and regulators are therefore well-advised to evaluate the effects of their measures.
The first session is dedicated to non-bank financial institutions, or NBFIs.
This sector includes, amongst others, insurers, investment funds, and money market and hedge funds. It is strongly interconnected, both with other sectors and across countries. Its share of the global financial system, as measured by total financial assets, is almost one-half.
Clearly, it could be a source of systemic risks. But the risks presented by NBFIs often lie out of view. This makes them more difficult to monitor and assess. All the more important, then, to close data gaps and strengthen the resilience of the sector.
One particular source of vulnerability are fire sales of open-ended funds. These are the subject of a paper that Rüdiger Weber is presenting this morning.[1]
Open-ended funds are especially prone to fire sales because, during episodes of market stress, they often face significant pressure from investors who want to liquidate their holdings quickly. Fund managers may then be forced to offload fund assets at short notice. And if those assets are less liquid, they may have to sell them at lower prices. This may amplify price declines and liquidity shortages.
Effective liquidity management and regulation are very important here. A recently published Bundesbank paper shows that price-based liquidity management tools help keep the financial fragility of open-ended mutual funds in check.[2]
In times of stress, investors also try to protect their capital by shifting it into safer assets. However, this flight to safety can intensify the downward pressure on the prices of riskier assets as demand for the latter declines.
The Financial Stability Board is doing important work in this field. But it is currently focused on microprudential regulation. I think the FSB’s work on this front needs to be complemented by the development of macroprudential regulation for the NBFI sector.
In any case, we should not jeopardise what we have achieved in the banking regulation space by allowing stability risks to build up elsewhere in the financial system.
The second session is on central bank digital currencies (CBDC).
CBDC is an issue that is keeping almost all central banks very busy at the moment. The Eurosystem is hard at work preparing for the potential introduction of a digital euro.
As the world turns increasingly digital, the digital euro would provide a secure and efficient digital payment option that complements cash. It aims to strengthen Europe’s strategic autonomy by building on European infrastructures, and to promote innovation in the private sector.
However, introducing a CBDC could also have unintended side effects. If bank customers were allowed to hold it in large amounts, periods of banking distress could trigger large, sudden shifts out of deposits into CBDC. This could lead to financial instability.
And if CBDC were too attractive a substitute for deposits, commercial banks’ access to retail deposits could erode over time. Which could lead to structural disintermediation and call into question our proven two-tier banking system. It is therefore of the essence to design CBDC in a way that prevents these risks from materialising.
The challenge is to optimise the usability of CBDC as a means of payment while at the same time limiting its effects on the market for bank deposits. Two decisive factors in this regard are remuneration and holding limits. Let me say a few words on each of these.
Remuneration means the rate of interest on people’s holdings of CBDC. If that rate of interest were positive, holding CBDC would be more attractive. But at the same time, that would lead to outflows out of bank deposits.
Based on a welfare-maximising model setting, Pascal Paul will argue later this afternoon that central banks should allow for a positive interest rate.[3] This stands in contrast to the intention of the Governing Council not to remunerate digital euro holdings.[4]
Why are we not in favour of remuneration?
Because our aim is to make the digital euro a digital complement to cash, and there is no remuneration for holding cash. We neither want to compete with commercial banks for deposits, nor do we want to employ the digital euro as a monetary policy instrument.
The second, perhaps even more important, factor is holding limits. We intend to limit digital euro holdings to a certain amount, because we want to ensure the digital euro does not lead to large sudden shifts or disintermediation.
The limits currently under discussion range from €500 to €3,000.[5] A recent Bundesbank paper finds that an optimal holding limit would be in a range between €1,500 and €2,500.[6] On the Governing Council, we have not yet taken a decision on the exact amount. What is more, EU legislators might be involved here.
But as regards the practical usability of the digital euro, the exact limit does not play a major role anyway. This is because a reverse waterfall system, as it is called, would allow users to link their digital euro wallet to their bank account. They can then convert their bank deposits into digital euro automatically and instantly if their holdings are insufficient to make a payment.
Allowing users to convert an unlimited amount of deposits into CBDC would expose commercial banks to substantial run risk. In any case, zero or lower interest rates will not discourage them from doing that in times of crisis. However, digital bank runs can happen even without CBDC.
The failure of Silicon Valley Bank and other regional banks in March 2023 showed how quickly customers can withdraw their deposits these days. At Silicon Valley Bank alone, customers pulled out USD 42 billion within the space of a single day, which equated to around one-quarter of total deposits. And another USD 100 billion would have been withdrawn a day later.[7] The depositors on the run were apparently account holders with uninsured deposits.
Banking and deposit flows are the subject of Session 3. Dominic Cucic will present a paper showing that bank customers do indeed redistribute their deposits when deposit insurance limits change.[8] Credible and reliable deposit insurance helps to prevent bank runs and preserve financial stability.
In the euro area, we currently have deposit insurance at the national level. Adding a European layer in the form of a hybrid model would help prevent situations where large shocks overwhelm national deposit insurance systems and lead to cross-border contagion.
As a European layer should be risk-based, large exposures of banks to individual sovereigns are an issue. Currently, many banks hold a disproportionately large number of bonds issued by their domestic governments. If this were to continue, a common deposit insurance arrangement could lead to a redistribution of sovereign solvency risks.
In my view, the new EU legislative session provides a good opportunity to move forward on both issues: with a reduction in banks’ exposures to individual sovereigns, and a common European deposit insurance system.
Session 4 of this conference focuses on the impact of central bank interventions on market behaviour. Both papers in this session underline that such central bank measures need to be carefully designed.[9]
Central banks have taken a wide range of non-standard monetary policy measures to ensure sufficient monetary stimulus at the effective lower bound. But in the medium to long term, such policies may lead to inefficiencies. These could arise in financial markets themselves or in the allocation of resources affected by the boost to lending.
This makes it all the more important to evaluate the instruments used and the lessons learned. It is therefore very fitting that we are currently carrying out a strategy review in the Eurosystem. Amongst other things, this will provide an opportunity to critically review the quantitative easing policies we have seen in the past.
The extensive bond purchases contributed to price stability in an era of low inflation, but they were also associated with numerous side effects in financial markets. Without prejudging the outcome of the review, I think their use should be limited to exceptional circumstances.
Ladies and gentlemen,
The conference concludes with a panel discussion on the ECB’s new operational framework. As I have already expressed my views on this on a different occasion,[10] I will end my speech by expressing my gratitude.
Thanks to the organisers from the Bundesbank and Humboldt University for setting up this conference. Thanks to the presenters, discussants and panellists for sharing their insights. Thanks to all participants for their contributions. And special thanks to Annette Vissing-Jørgensen from the Federal Reserve Board, who will give a keynote on “Balance sheet policy above the effective lower bound”.[11]
Now I wish you all an exciting conference with valuable insights.
Thank you very much.
Footnotes:
Source: European Central Bank
Frankfurt am Main, 1 October 2024
It is my pleasure to welcome you to this fifth joint conference on expectations surveys organised by the European Central Bank, the Bank of Canada and the Federal Reserve Bank of New York.
In my remarks today, I will delve into the fascinating world of expectations surveys and their relevance to central banks. I will review how useful expectations surveys have proven to be for central banks over the period since 2019, the year we held our first conference in this series. In addition, I will touch on the challenges facing central banks in using surveys. The fact that central banks generally operate under great uncertainty has come to the fore over the past five years. Today, too, we are facing huge uncertainty – not least in view of the many prevailing economic, financial and geopolitical risks. Yet, it is precisely in this unpredictable and highly complex landscape that surveys have come into their own.
Over the past decade, central banks and other policymaking institutions have invested significantly in expectations surveys and have drawn increasingly on survey data for their policy analysis and research. These surveys cover consumers, firms, financial market participants and other experts, including professional forecasters. At the ECB, we can fortunately look to a wide array of such surveys covering diverse topics such as consumer expectations, household finance and consumption, access to finance of enterprises, the payment attitudes of consumers and bank lending. Since 2013, the ECB has also conducted a survey of wholesale market participants on credit terms and conditions, and it recently developed a new survey of monetary analysts to collect expert expectations about key monetary policy parameters and concepts. Finally, the ECB’s Survey of Professional Forecasters was launched back in 1999 at the start of Economic and Monetary Union. Its structured collection of data has supported a rich research programme investigating economic forecasts and expert expectations.[1]
All ECB surveys can provide insights into how different economic agents form and update their expectations. They can reveal the potential biases in these expectations and the extent to which expectations feed into economic decisions. Surveys were indeed quite central to the economic debate in the 1950s and the 1960s but their role became more marginal when rational expectations were incorporated into economic modelling in the 1970s. Over the past ten years, however, economists have seen survey expectations clearly returning to the mainstream.[2] One could describe the recent growth in survey-based research as a “counter-revolution” following the earlier “revolution” centred on rational expectations. Today, while models based on rational expectations still form a useful reference point in our analysis and research, they are no longer thought to provide a solid basis for understanding business cycles, for gauging the risks of financial crises or for designing effective economic policies. The central insight gained from this new line of survey-based research is that many economic agents may systematically form expectations by using partial sets of information or by following subjective narratives about how the economy functions – for example by applying simple rules of thumb.[3] It is important to understand such subjective expectations, because these beliefs often underlie the economic choices and financial decisions that drive the economy.[4]
Surveys have repeatedly proven their usefulness over the past five years. During the COVID-19 pandemic, they were especially useful in helping to track financial conditions for firms and households, as well as in estimating the labour market response to the pandemic shock. Online surveys were of great benefit during the pandemic as in-person survey interviews were hampered by lockdown restrictions. For example, the ECB’s Consumer Expectations Survey – an online survey which was fortuitously launched in early 2020 – helped us understand the severity of the pandemic-induced collapse in consumption and gauge the overall effectiveness of the major policy interventions by governments and other authorities at the time.[5]
More recently, the data collected in surveys strongly supported the analysis of the recent inflationary episode in the euro area.[6] During the early phase of the inflation surge in 2022, survey data helped to inform the central discussion on the likely persistence of the shock. For example, the observed increase in consumers’ medium-term expectations may have interacted with an increase in firms’ pricing power to make the original supply shocks more persistent than they would otherwise have been.[7]
Forces that would gradually help bring inflation back down to our target were also visible in more recent survey data. For example, we could see how the rise in inflation and inflation expectations was acting as a major constraint on demand and consumer spending owing to its impact on real incomes. In August 2023 respondents to the ECB’s Consumer Expectations Survey were asked what actions they were planning to take in light of their expectations about future inflation. The results clearly showed that a much higher share of consumers planned to reduce their spending in response to the expectations of higher prices.[8] In addition, consumers indicated that they would start to shop around more and buy cheaper varieties of goods and services than they normally would. In a context where the ECB was taking decisive monetary policy action aimed at restoring price stability, these behavioural responses to higher inflation expectations also contributed to the gradual unwinding of the inflationary pressures across the euro area economy.
In addition to monetary policy, expectations surveys are now increasingly being used for other central bank tasks as well. This includes financial stability analysis. Here, surveys can help identify potential sources of financial risk not only in financial markets and the banking system, but also in the household and non-financial corporate sectors.[9] Even when there is no discernible financial stress at the aggregate level, the disaggregated or individual-level data typically provided by surveys can help us to identify emerging risks across particular sectors or socio-demographic groups.
In financial stability analysis, the topic of financial literacy is receiving increased attention. In the first keynote lecture of the conference, Professor Annamaria Lusardi from Stanford University will talk about why financial literacy is relevant for central banks. One consideration for financial stability analysis is that less financially literate households may be less prepared to cope with adverse economic and financial shocks. Yet, these households tend to be the most exposed to such shocks and more heavily affected when they occur. Policies seeking to boost financial literacy may help borrowers to source loans that are cheaper to service, thus promoting more efficient and more sustainable debt management. These issues may be particularly relevant for real estate markets and housing, which will be the focus of the second keynote lecture of the conference, given by Professor Tarun Ramadorai from Imperial College London. Professor Ramadorai will discuss the importance of non-rational beliefs in the housing market and how household surveys can help inform policies that can address these frictions.
Our experiences with survey data also highlight the challenges that policymakers face when using these data. Survey data can be volatile and there is evidence of overreaction in both household and firm surveys of expectations. For this reason, surveys may provide a noisy signal for policymaking in practice, which complicates how these data should feed into the policy reaction function. In this respect, I hope the research presented at today’s conference can also help policymakers distinguish the signal from the noise that is always embedded in expectations data. These considerations underline the importance of the quality of the survey design, including the sampling and data collection methods. It is crucial that questions are designed to avoid the framing of responses and that the complexity of the questionnaires is managed appropriately to avoid survey fatigue, which may negatively affect data quality. As central banks are making increasing use of survey data, they need to continuously and carefully monitor these data to ensure responses remain representative of the underlying population’s beliefs and behaviour.
Let me conclude. Today, expectations surveys are an important part of the toolkit available to central banks for their policy analysis. These surveys reveal insights about the economy that would otherwise remain hidden from view. As a result, they can contribute to more robust policy decisions and better policy assessments.
I would like to finish by thanking the presenters and participants in advance for their contributions and the conference organisers for putting together such an impressive programme. I wish you all a productive and successful two days of lively debate and discussion. I am confident that the insights that will emerge from sharing our experiences of different surveys across many countries and institutions will ultimately enhance the way in which we use expectations surveys to help guide policy decisions.
MIL OSI Translation. Region: Italy –
Source: Government of Italy
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October 1, 2024
The Prime Minister, Giorgia Meloni, had a telephone conversation today with the Prime Minister of Lebanon, Najib Mikati.
In renewing Italy’s closeness to Lebanon and the Lebanese people and in recalling the first immediate aid to the civilian population allocated yesterday by the Government, the Prime Minister reiterated Italy’s commitment to a ceasefire and a diplomatic solution to the conflict that will allow the displaced to return to their homes. Italy, also as the rotating Presidency of the G7, will continue to work for a de-escalation at the regional level.
President Meloni finally recalled the crucial role of the Italian soldiers present in southern Lebanon within the UNIFIL mission, underlining the importance of their safety.
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.
Source: GlobeNewswire (MIL-OSI)
FORM 8.3
PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the “Code”)
1. KEY INFORMATION
| (a) Full name of discloser: | CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients) |
| (b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. |
N/A |
| (c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree |
LEARNING TECHNOLOGIES GROUP PLC |
| (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: | N/A |
| (e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure |
30 SEPTEMBER 2024 |
| (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state “N/A” |
N/A |
2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE
If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.
(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)
| Class of relevant security: | 1p ORDINARY | |||
| Interests | Short positions | |||
| Number | % | Number | % | |
| (1) Relevant securities owned and/or controlled: | 10,263,593 | 1.2956 | ||
| (2) Cash-settled derivatives: | ||||
| (3) Stock-settled derivatives (including options) and agreements to purchase/sell: | ||||
| TOTAL: | 10,263,593 | 1.2956 | ||
All interests and all short positions should be disclosed.
Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).
(b) Rights to subscribe for new securities (including directors’ and other employee options)
| Class of relevant security in relation to which subscription right exists: | |
| Details, including nature of the rights concerned and relevant percentages: |
3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE
Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.
The currency of all prices and other monetary amounts should be stated.
(a) Purchases and sales
| Class of relevant security | Purchase/sale | Number of securities | Price per unit |
| 0.375p ORDINARY | SELL | 23,492 | 95.15p |
| 0.375p ORDINARY | SELL | 18,905 | 95.2502p |
| 0.375p ORDINARY | SELL | 15,000 | 95.6p |
(b) Cash-settled derivative transactions
| Class of relevant security | Product description e.g. CFD |
Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position |
Number of reference securities | Price per unit |
| NONE |
(c) Stock-settled derivative transactions (including options)
(i) Writing, selling, purchasing or varying
| Class of relevant security | Product description e.g. call option | Writing, purchasing, selling, varying etc. | Number of securities to which option relates | Exercise price per unit | Type e.g. American, European etc. |
Expiry date | Option money paid/ received per unit |
| NONE |
(ii) Exercise
| Class of relevant security | Product description e.g. call option |
Exercising/ exercised against | Number of securities | Exercise price per unit |
(d) Other dealings (including subscribing for new securities)
| Class of relevant security | Nature of dealing e.g. subscription, conversion |
Details | Price per unit (if applicable) |
| NONE |
4. OTHER INFORMATION
(a) Indemnity and other dealing arrangements
| Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none” |
|
NONE |
(b) Agreements, arrangements or understandings relating to options or derivatives
| Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state “none” |
|
NONE |
(c) Attachments
| Is a Supplemental Form 8 (Open Positions) attached? | NO |
| Date of disclosure: | 01 OCTOBER 2024 |
| Contact name: | DAN SALISBURY |
| Telephone number: | 01253 376532 |
Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.
The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.
The Code can be viewed on the Panel’s website at http://www.thetakeoverpanel.org.uk.
Source: Government of Italy (English)
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1 Ottobre 2024
The President of the Council of Ministers, Giorgia Meloni, had a telephone conversation today with the Prime Minister of Lebanon, Najib Mikati.
President Meloni reaffirmed Italy’s closeness with Lebanon and the Lebanese people and recalled the initial emergency aid allocated yesterday by the Italian Government for the civilian population, reiterating Italy’s commitment to a ceasefire and a diplomatic solution to the conflict which would allow the displaced persons to return to their homes. Italy, also as current G7 President, will continue to work for a de-escalation at regional level.
Lastly, President Meloni recalled the crucial role of the Italian military personnel present in the south of Lebanon serving in the UNIFIL mission, stressing the importance of their safety.
Source: US Federal Emergency Management Agency
Headline: Biden-Harris Administration Prepared for Multi-State Event as Hurricane Helene Approaches, FEMA Encourages People in Storm’s Path to Listen to Local Officials
Biden-Harris Administration Prepared for Multi-State Event as Hurricane Helene Approaches, FEMA Encourages People in Storm’s Path to Listen to Local Officials
At the Direction of President Biden, FEMA Administrator to Travel to Florida to Survey Impacts
WASHINGTON — Hurricane Helene is a massive, dangerous storm and FEMA is prepared for anticipated multi-state impacts. In advance of Hurricane Helene’s landfall in Florida, the Biden-Harris Administration approved pre-landfall emergency declarations for Florida, Georgia and North Carolina. These declarations enable FEMA to provide federal resources to the states for emergency protective measures like reimbursement for evacuations and sheltering and aid initial response and recovery efforts.
FEMA urges people in the path of Hurricane Helene to take immediate action to protect themselves as the storm approaches. Hurricane Helene is expected to continue strengthening and bring life-threating storm surge and hurricane conditions to Florida starting today. There is also the risk for dangerous flash and flooding in Alabama, Georgia, North Carolina and South Carolina.
“The Biden-Harris Administration is ready for this event. We are prepared and postured for response,” said FEMA Administrator Deanne Criswell. “People in Hurricane Helene’s path need to take this seriously. Listen to your state and local elected officials. If they tell you to evacuate, evacuate. If they tell you to shelter in place, stay where you are. These decisions can save lives.”
FEMA, the entire federal family and partner organizations are actively coordinating response efforts across Florida, Georgia and North Carolina. There are over 1,100 personnel actively supporting from across the federal government, which include Urban Search and Rescue Teams, Coast Guard, the Department of Defense and power restoration teams from the U.S. Army Corps of Engineers. An additional 700 FEMA team members already deployed across the region from previous events. To help people who may need to evacuate, the American Red Cross is actively standing up shelters in the areas likely to feel the impacts from Helene.
Residents in Alabama, Florida, Georgia, North Carolina and South Carolina can find a list of state, tribal and local resources such as evacuation, shelter and important storm updates on FEMA.gov.
mashana.davis
Source: Government of Canada regional news
Released on September 26, 2024
Today, the province’s first Integrated Youth Services (IYS) site, or hub, opened its doors in Humboldt, delivering supports to young people ages 12 to 25 and their caregivers.
The hub is located at 307 Main Street and will operate under the name HOMEBASE. It will provide co-located access to mental health and addictions services; physical health services; peer supports; education, employment and training supports; cultural and traditional supports; and social and community supports.
“We are proud to have our first youth-focused and youth-friendly services center opening in Humboldt,” Humboldt-Watrous MLA Donna Harpauer said on behalf of Mental Health and Addictions Minister Tim McLeod. “Integrated Youth Services is an innovative way to connect young people and their caregivers with the resources they need to enhance their wellbeing.”
The HOMEBASE team within the John Howard Society of Saskatchewan (JHSS) is leading the implementation of hubs across the province with $3.4 million in funding from the Government of Saskatchewan for development and operations.
“We are thrilled to have our first HOMEBASE youth hub opening in Humboldt,” Integrated Youth Services HOMEBASE Director Pam Reimer said. “Our lead agency and their local youth co-design team have been hard at work to create a safe, inclusive, barrier-free environment to serve the youth of Humboldt and the surrounding area.”
PARTNERS Family Services has been contracted by the JHSS to operate HOMEBASE Humboldt, which also has support from local school divisions, the Saskatchewan Health Authority, Humboldt and District Community Services, Sask Central Victim Services and other community partners.
“Our team has been working tirelessly with our youth, caregivers, and community partners to shape HOMEBASE Humboldt and our service delivery model,” PARTNERS Family Services Executive Director Hayley Kennedy said. “We are so excited to bring this model to Humboldt and offer barrier-free access to mental health and wellbeing supports, physical health care, and other areas of need as identified by our diverse youth community.”
IYS is a national and international movement, aimed at reimagining how youth and their caregivers find and access the resources, services and supports they need.
In January 2024, the JHSS announced that the first IYS hubs were selected with partner organizations. In the coming weeks, HOMEBASE hubs in Regina and Moose Jaw will also become operational. Sturgeon Lake First Nation is the fourth community to host a hub, after previously hosting one as part of a national research project. HOMEBASE Sturgeon Lake will open later in 2024-25.
Additional information on HOMEBASE’s integrated youth services is available at homebasesask.ca and Integrated Youth Services.
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For more information, contact:
Source: United States Department of Defense
Today, as part of the surge of assistance that President Biden directed ahead of his meeting with President Zelenskyy, the Department of Defense (DoD) announced a significant new security assistance package to ensure Ukraine has the tools it needs to prevail in its fight against Russian aggression. This security assistance package commits an additional $2.4 billion in support through the Ukraine Security Assistance Initiative (USAI) that will provide Ukraine with additional air defense, Unmanned Aerial Systems, and air-to-ground munitions, as well as strengthen Ukraine’s defense industrial base and support its maintenance and sustainment requirements.
The capabilities in this announcement include:
This is the Biden Administration’s twenty-first USAI package. The United States will continue to work together with some 50 Allies and partners through the Ukraine Defense Contact Group and its associated capability coalitions to provide the support Ukraine needs to win the war.
Source: Government of Canada regional news
After the impressive success of the pilot concert series earlier this year, Alberta’s government is providing a $19,000 grant to Calgary company Stagehand to bring a second concert season to the South Health Campus. The second season of the full-year concert series will begin on Sept. 26.
A patient watches local musicians play at the South Health Campus music series pilot project in February of 2024.
This grant renews the pilot project from February 2024, when Alberta’s government first enabled Stagehand to bring musicians to perform for South Health Campus patients, staff and visitors.
“Alberta’s government recognizes the incredible impact music has on people’s lives, and how it can give people the strength to beat their illness. That is why we are proud to support this amazing concert series that supports local artists and helps lift spirits at the South Health Campus.”
“Music has the power to heal and uplift, and this concert series brings that joy to patients, families and health care workers. We’re proud to support Alberta’s talented musicians while enhancing the well-being of everyone at the South Health Campus.”
Stagehand offers a digital platform that connects artists with venues to book and promote live events. The Calgary-based company will provide the platform to manage an open call for artists, selection, contracting, scheduling, payment and data collection.
The pilot project in February included 10 performances at various times and locations at the South Health Campus. The program aligns with the government’s goals for Alberta’s continued economic success by supporting the province’s music industry. This project also helps share Alberta’s cultures, perspectives and stories through music while supporting local musicians.
“Stagehand is proud to bring music back into Calgary’s South Health Campus for a second concert series. Music has an incredible ability to heal, and Stagehand is exploring even more ways to get more music to the people who need it. I would like to thank Alberta’s government and Minister Fir for the continued support, and I look forward to collaborating in the future.”
“Music offers more than just entertainment for patients; it provides a powerful source of joy, comfort and healing, especially for those dealing with pain, undergoing medical procedures, rehabilitation therapies, or facing long hospital stays. By reducing anxiety, lowering blood pressure and enhancing mood, music fosters a sense of calm and empowerment, helping patients regain control in the midst of their challenges.”
Après le succès retentissant de la série de concerts pilotes présentée au début de l’année, le gouvernement de l’Alberta a accordé une subvention de 19 000 dollars à l’entreprise Stagehand de Calgary pour qu’elle puisse organiser une deuxième série de concerts au South Health Campus. La deuxième série de concerts s’étendra sur toute l’année et débutera le 26 septembre.
En février 2024, un patient regarde des musiciens de la région jouer dans le cadre du projet pilote de la série musicale du South Health Campus.
Cette subvention renouvelle le projet pilote de février 2024, lorsque le gouvernement de l’Alberta a permis pour la première fois à Stagehand d’inviter des musiciens à se produire devant les patients, le personnel et les visiteurs du South Health Campus.
« Le gouvernement de l’Alberta reconnaît l’impact incroyable de la musique sur la vie des gens et la façon dont elle peut leur donner la force de vaincre leur maladie. C’est pourquoi nous sommes fiers de soutenir cette formidable série de concerts, qui permet d’encourager les artistes locaux tout en remontant le moral des gens au South Health Campus. »
« La musique a le pouvoir de guérir et de remonter le moral des gens, et cette série de concerts apporte cette joie aux patients, aux familles et aux travailleurs de la santé. Nous sommes fiers de soutenir les musiciens talentueux de l’Alberta tout en améliorant le bien-être de toutes et de tous au South Health Campus. »
L’entreprise Stagehand met en relation les artistes et les établissements en proposant une plateforme numérique qui permet de réserver et de promouvoir des événements en direct. Basée à Calgary, l’entreprise fournira la plateforme où pourront être gérés les appels ouverts aux artistes et leur sélection, les contrats, la programmation, le paiement et la collecte de données.
Le projet pilote de février a permis de donner dix représentations à des heures et à des endroits différents au South Health Campus. Le programme s’inscrit dans les objectifs du gouvernement qui visent à assurer le succès économique continu de l’Alberta grâce au soutien de l’industrie musicale de la province. Ce projet contribue également à partager, par la musique, les cultures, les perspectives et les récits de l’Alberta, tout en soutenant les musiciens locaux.
« Stagehand est fière de ramener la musique au South Health Campus de Calgary pour une deuxième série de concerts. La musique a une incroyable capacité de guérison, et Stagehand explore encore plus de moyens pour apporter plus de musique aux personnes qui en ont besoin. Je tiens à remercier le gouvernement de l’Alberta et la ministre Fir de leur soutien continu, et je me réjouis à l’idée de continuer à collaborer avec eux. »
« La musique est plus qu’un simple divertissement pour les patients; elle est une puissante source de joie, de réconfort et de guérison, en particulier pour celles et ceux qui souffrent, qui subissent des procédures médicales, des thérapies de réadaptation ou qui doivent effectuer de longs séjours à l’hôpital. En réduisant l’anxiété, en abaissant la tension artérielle et en améliorant l’humeur, la musique favorise un sentiment de calme et d’autonomisation, ce qui aide les patients en difficulté à reprendre le contrôle de leur santé. »
Source: Government of Canada News
September 26, 2024 – Ottawa, Ontario – Global Affairs Canada
Today, the Honourable Mary Ng, Minister of Export Promotion, International Trade and Economic Development, announced that Canada has been named the Country of The Year for Viva Technology 2025, the largest technology event in Europe, which is scheduled for June 11 to 14, 2025 in Paris, France. This honour reinforces Canada’s reputation as a worldwide leader in artificial intelligence. Scale AI, Canada’s Global Innovation Cluster focused on Artificial Intelligence (AI), will lead Canada’s business delegation.
Viva Technology is a major annual technology conference where business leaders, startups, and investors come together to share ideas and showcase innovative technologies. As the Country of The Year, Canada will showcase its expertise to the global community and connect with thousands of visionary startups, investors, organizations, researchers, and media during the ninth edition of one of the world’s biggest tech events. Leveraging advancements in AI can enhance Canada’s economy, increase productivity, and create exciting new opportunities for all Canadians.
Companies interested in being part of Canada’s delegation to Viva Technology 2025 can express their interest through Scale AI, Canada’s AI Global Innovation Cluster focused on leveraging AI to improve value chains.
Canada’s participation in Viva Technology 2025 was addressed by Prime Minister Trudeau and French President Macron in their Joint Declaration as President Macron concluded his visit to Canada yesterday. This reflects the strong collaboration between Canada and France in artificial intelligence through initiatives like the Global Partnerships on AI and the Centres of Excellence in Montreal and Paris. Viva Technology 2025 will provide an excellent opportunity to build on our ongoing work with France to strengthen cooperation among governments, organizations, and businesses to deliver technology solutions that are responsible, secure, and grounded in human rights and democratic values.
“As the Country of The Year at Viva Technology 2025, Canada will stand at the forefront of innovation, showcasing the immense trade benefits that arise from connecting startups, technology leaders, large companies, and investors. Together, Canada and France are not only enhancing global collaboration but also driving a new era of growth and creativity that benefits both of our nations.”
– Mary Ng, Minister of Export Promotion, International Trade and Economic Development
“Canada is building an ecosystem where innovation can thrive while ensuring we are developing safe technologies. Canada has been working hard with France to make concrete progress in the development of a robust and responsible AI ecosystem and I look forward to furthering our collaboration as we showcase our progress at this global technology event.”
– François-Philippe Champagne, Minister of Innovation, Science and Industry
The commercial relationship between Canada and France is underpinned by the Canada-EU Comprehensive Economic and Trade Agreement (CETA), which has been provisionally applied since 2017.
CETA creates opportunities for French and Canadian businesses by eliminating tariffs and increasing the mobility of business people, among other things.
Canada and France have worked collaboratively on several initiatives for the responsible use of AI including launching the Global Partnership on Artificial Intelligence (GPAI) in June 2020.
The Government of Canada announced a Voluntary Code of Conduct on the Responsible Development and Management of Advanced Generative AI Systems in September 2023 and an AI Safety Institute.
The Viva Technology 2024 Canadian delegation of 60 organizations was the largest Canadian AI presence ever showcased at an international event.
Huzaif Qaisar
Press Secretary
Office of the Minister of Export Promotion, International Trade and Economic Development
343-575-8816
Huzaif.Qaisar@international.gc.ca
Media Relations Office
Global Affairs Canada
media@international.gc.ca
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Source: Government of Canada News (2)
Fort Smith, Northwest Territories, September 26, 2024 — New homes in Salt River First Nation Reserve in Fort Smith are one step closer after an investment of $205,000 from the federal government was announced today by MP McLeod. This funding was used to purchase equipment to assist with the construction of new homes on reserve.
Supporting the needs of the most vulnerable people in Canada is one of the goals of Reaching Home: Canada’s Homelessness Strategy. The funding announced today for the Salt River First Nation is being used to address territorial homelessness by helping to build dedicated housing for individuals and families experiencing or at imminent risk of homelessness.
“The federal government is committed to working with communities and Indigenous partners to increase the availability of safe, inclusive housing options. By investing in housing and relevant supports, we can create stronger, healthier, and more resilient communities for generations to come.”
Michael McLeod, Member of Parliament for Northwest Territories, on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities
“Developing our new reserve to meet the critical housing needs of our people is a high priority for SRFN. Chief and Council value the support from Canada as we collaborate to build a better future for our nation”
Elizabeth Westwell, Chief Executive Officer of Salt River First Nation
Reaching Home is a community-based program aimed at preventing and reducing homelessness across Canada. This program provides funding and support to urban, Indigenous, territorial, rural, and remote communities to help them address their local homelessness needs.
Funding under this program is allocated to 64 Designated Communities (urban centres), three territorial capitals, 30 Indigenous communities, and rural and remote communities across Canada. The program also makes funding available to Indigenous partners to support distinctions-based approaches to homelessness services.
Through Reaching Home, the federal government is investing $4 billion over 9 years to address homelessness. Budget 2024 announced an additional $1 billion over four years from 2024-25 to 2027-28 to stabilize funding for Reaching Home. This includes $50 million to accelerate community-level reductions in homelessness.
Budget 2024 also announced $250 million over two years, starting in 2024-25, to address the urgent issue of encampments and unsheltered homelessness. This initiative envisions working with provinces and territories to cost-match federal investments.
For more information (media only), please contact:
Sofia Ouslis
Communications Advisor
Office of the Minister of Housing, Infrastructure and Communities
Sofia.ouslis@infc.gc.ca
Media Relations
Housing, Infrastructure and Communities Canada
613-960-9251
Toll free: 1-877-250-7154
Email: media-medias@infc.gc.ca
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Web: Housing, Infrastructure and Communities Canada
Source: Government of Canada News (2)
September 26, 2024 – Broome, Australia – National Defence / Canadian Armed Forces
His Majesty’s Canadian Ship (HMCS) Vancouver completed a forward rearmament in Australia on September 23, 2024, more than halfway through its six-month deployment to the Indo-Pacific region on Operation HORIZON.
This forward rearmament with Australia was a first for the Royal Canadian Navy (RCN). The rearmament coordination and execution were nine months in the making, with planning having commenced in January 2024, and were made possible in part thanks to the close coordination and cooperation of the Australian Defence Force (ADF).
Having the capability to rearm far from a Canadian homeport is a significant achievement. Accomplishing it with the support of our allies and partners demonstrates the strength of Canada’s relationships in the Indo-Pacific region. This rearmament process allows the Canadian Armed Forces (CAF) to strengthen its interoperability and interchangeability through the sharing of information, techniques, and lessons learned that will allow for more agility moving forward.
Since HMCS Vancouver’s deployment in June 2024, the ship has participated in three different multinational maritime exercises and expended munitions, including two vertically launched missiles at Exercise RIM OF THE PACIFIC (RIMPAC) 2024.
Ammunition for the rearmament was transported from Canada to Darwin, Australia, via a Royal Canadian Air Force (RCAF) CC-177 Globemaster, where it was stored until the ship’s arrival. It was then transported to Broome, Australia, by the Australian Air Force and civilian contractors, and loaded onto the ship. During the rearmament itself, Canadian Forces Ammunition Depot staff members were on the ground, with members from the Australian Defence Industry (ADI) and the Royal Australian Navy to support.
The logistics of facilitating a technical rearmament process occurring far from a Canadian Naval Base are complex and support from elements of the ADF and ADI were instrumental in the success of this mission.
Source: Agenzia Fides – MIL OSI
Thursday, 26 September 2024
Patriarcato Latino di Gerusalemme
Jerusalem (Agenzia Fides) – A day of prayer, penance and fasting to ask for the gift of peace in the Holy Land. Exactly one year after the renewed conflict between Israel and Palestine, the Catholic Patriarch, Cardinal Pierbattista Pizzaballa, invites people to take part in this initiative in a letter to the entire diocese of the Latin Patriarchate of Jerusalem.”The month of October is approaching, and with it the realization that for the past year the Holy Land, and not only, has been plunged into a vortex of violence and hatred never seen or experienced before. The intensity and impact of the tragedies we have witnessed in the past twelve months have deeply lacerated our conscience and our sense of humanity”, the Cardinal writes, calling “once again on those in authority and those who bear the grave responsibility of making decisions in this context, to a commitment to justice and respect for every person’s right to freedom, dignity and peace.””Therefore, I invite you to a day of prayer, fasting and penance on October 7 next, a date that has become symbolic of the drama we are experiencing. The month of October is also the Marian month and on October 7 we celebrate the memory of Mary Queen of the Rosary,” the Patriarch’s letter reads. “May each of us, with the rosary or in whatever form he or she sees fit, personally but better again in community, find a moment to pause and pray, and bring to the “merciful Father and God of all consolation” (2 Cor. 1:3), our desire for peace and reconciliation. Attached you will find a prayer proposal, that may be used freely.”Lord our God,Father of the Lord Jesus Christ,and Father of all mankind,Who in the cross of Your Sonand through the gift of His own life,at great cost You wished to destroythe wall of enmity and hostilitythat separates peoples and makes us enemies:Send into our heartsthe gift of the Holy Spirit,that He may purify us from every feelingof violence, hatred and revenge,enlighten us to understandthe irrepressible dignityof every human person,and inflame us to the point of consumptionfor a peaceful and reconciled worldin truth and justice,in love and freedom.Almighty and eternal God,in Your hands are the hopes of menand the rights of every people:Assist with Your wisdom those who govern us,so that, with Your help,they will become sensitive to the sufferings of the poorand of those who suffer the consequencesof violence and war;may they promote the common good and lasting peacein our regionand throughout the earth.Virgin Mary, Mother of Hope,obtain the gift of peacefor the Holy Land that gave birth to youand for the whole world. Amen.(Agenzia Fides, 26/9/2024)
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Source: Council of the European Union
At the ministerial meeting on the role of the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) in Gaza, the West Bank and the region, President Charles Michel stressed the EU’s role as a reliable partner.
Source: United States House of Representatives – Representative Tom Kean, Jr. (NJ-07)
(September 26, 2024) BERNARDSVILLE, NJ – Today, Congressman Tom Kean, Jr. (NJ-07) announced that his casework team has returned more than $10,012,316 to constituents.
Since the office opened in January of 2023, Congressman Kean and his team have closed over 2,730 constituent cases, representing over $10,012,316 dollars returned back to New Jerseyans in the 7th Congressional District. From the beginning of Congressman Kean’s term in office, Team Kean has helped constituents save money and obtain benefits from the VA, IRS, Social Security Administration, and other federal agencies. The top three groups of people served are seniors, veterans, and families.
“$10,000,000 back to constituents is an incredible milestone that demonstrates the positive impact of the work we do to help our fellow New Jerseyans,” said Congressman Kean. “I am committed to serving my district to ensure every constituent receives the benefits and assistance to which they are entitled.”
Below are testaments from constituents who have received assistance from Team Kean with their federal agencies.
“The staff was very helpful through the process and they were reassuring. I appreciate the great assistance!!” -Payal from Flemington
“Thank you to the Congressman Kean’s office for your help with expediting my EAD! It was expedited so quickly and truly appreciate your help. I was also very pleasantly surprised by the customer service on the phone. It was great there were no automated phone systems and I was able to reach a rep right away and they were very courteous. Overall a very positive experience.” -Aparajitha from Somerville
“Congressman Keans staff was highly responsive and helpful in resolving my issue. They reached out numerous times and even when the problem was resolved they followed up to ensure all was well. Thank you for all of your help.” -Antonio from Ledgewood
“I emailed the office late in the evening after business hours and they responded around 9am the next morning. By 4:00pm that day, the social security worker called me and gave me her direct extension, apologized, and said she would process the application immediately. Congressman Kean’s office went above and beyond my expectations and I am truly grateful. It gives me great faith that he will do what he says he will do.” -Amber from Washington
Team Kean is always here to help. If you or someone you know needs help with a federal agency, please do not hesitate to contact the office. You can find more information here: https://kean.house.gov/services/help-federal-agency or call (908) 547-3307. Team Kean also hosts frequent Satellite Office Hours, the first week of every month. Make sure to follow Congressman Kean for updates on Facebook, Twitter and Instagram at @CongressmanKean.
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Source: Agenzia Fides – MIL OSI
Thursday, 26 September 2024
by Fabio BerettaDhaka (Agenzia Fides) – “The situation in Bangladesh”, where Christians represent only 0.30% of the population, “is very delicate. In general, Christians live in a peaceful context, but there have also been cases of harassment by their neighbors,” said Archbishop Kevin Randall, Apostolic Nuncio in Bangladesh since 2023, interviewed by Fides after his recent meeting with the Chief Advisor to the interim government. He spoke to Fides about the country’s society and the commitment and support of the local Church and of Pope Francis for Rohingya refugees.What is the situation in Bangladesh after the recent protests and social unrest?The situation in Bangladesh is very delicate. With a transitional government, some wonder when there will be elections. Others want to rewrite the constitution. Still others say that a transitional government does not have the power to rewrite the Constitution. In the meantime, citizen violence dominates the country and the rule of law is limited.How are Christian communities experiencing this historic moment?In general, Christians live in a relatively peaceful context, but there have also been cases of harassment by their neighbors. The police are powerless. After Sheik Hasina left the country, many officials became afraid and went into hiding. They took off their uniforms to wear civilian clothes and stopped going to work.Do Christian communities have special expectations compared to the rest of the population?Yes, the Christian community hopes that the transitional government will protect minorities during this transitional period. Christians’ villages are under threat because there are people who want to take over their land, even if they belong to their own ethnic group. Many citizens, whether Christian, Buddhist or Hindu, are treated as undesirables, “as if they were foreigners,” although they are not. The Constitution declares Bangladesh a secular state with one official religion: Islam. However, there are some who confuse the phrase “official State religion” with the idea that “minorities do not belong here” and that the country is “an Islamic State.”During the meeting with Muhammad Yunus, Chief Advisor to the interim government, the need to “protect” minorities was raised. Where does this concern come from?According to the 2022 census, Christians in Bangladesh make up 0.30% (about 500,000 believers) of the population. There have been cases of threats against villages, houses and especially schools. In many Catholic schools, there have been attempts at intimidation, with several teachers threatened with expulsion. Some Muslims reported to the school administration that their children would dress in a certain way in the future, especially if they were girls. However, wearing the burqa violates our uniform regulations. With Muhammad Yunus, I raised issues that concern Christians, but also Buddhists and Hindus. One must not forget that the Hindu minority is about 8%. Many of their temples have been destroyed and their shops burned down. And the Chief of the interim government agreed that all minorities must be protected and promised that he would try to create a law that can bring order.Recently, the establishment of a body for interreligious dialogue between the Holy See and the scholars of Islam in Bangladesh was proposed. How was this idea received?The idea of having an interreligious dialogue is not mine. The Dicastery for Interreligious Dialogue asked for it in a letter years ago, when Cardinal Jean-Louis Tauran was the head of the then Pontifical Council for Interreligious Dialogue. Tauran himself spoke about it with former Prime Minister Sheik Hasina during one of his visits here in Bangladesh. I have already raised this idea with Sheik Hasina, and recently I have also asked Muhammed Yunus and his team to think about this possibility in concrete terms. The concept has been well received, but I think they have other concerns at the moment.Are there already concrete steps towards this project?No, but we can propose them. But we cannot force them. Unlike in the United Arab Emirates, where Pope Francis signed the document on fraternity, or in Indonesia, where the Pope recently signed a new document on tolerance and praised the “tunnel of friendship” that connects the cathedral with the mosque in Jakarta, interreligious dialogue does not find much support in Bangladesh, even if it takes place at the level of academic discussions.Regarding humanitarian aid for the Rohingya refugees, Mohammed Yden has reportedly asked the Vatican for support. How can this request be met?The Chief Advisor of the interim government did not directly ask for the Holy See’s help, as has been reported in various media. He asked for the Holy See’s support in the reforms he and his government want to implement, but not for financial help, including for the Rohingya.It was the one who asked on behalf of the Pope to continue to help and protect the Rohingya. I explained that the Catholic Church’s Caritas organization has been continuously helping the displaced since 2017, but that funds are decreasing. Before I traveled to Bangladesh, Pope Francis asked me not to forget the Rohingya. These refugees have experienced violence in their own country and came to Bangladesh to ask for help. But unfortunately, the Rohingya are considered by the local population as an ethnic and religious group that belongs to “this country”, Bangladesh.Cardinal Patrick D’Rozario and I paid them an official visit. The living conditions are very difficult. Children and young people do not receive an education. In addition, by law, 25 percent of our aid must go to the Bengali community. However, I am happy to announce that the Pope is sending further financial aid. This gesture of his will help many. (Agenzia Fides, 26/9/2024)
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Source: United States House of Representatives – Congressman Kweisi Mfume (MD-07)
WASHINGTON, D.C. – Victims of food stamp theft will continue to be reimbursed thanks to a provision in a stop-gap funding bill secured by a bipartisan group of lawmakers led by Congressman C.A. Dutch Ruppersberger. H.R. 9747, the Continuing Appropriations and Extensions Act of 2025, passed in the U.S. House of Representatives today in a 341-82 vote, keeping the government funded – and Supplemental Nutrition Assistance Program (SNAP) benefits flowing – through December 20, 2024. It is expected to be taken up in the U.S. Senate quickly.
Last month, Ruppersberger, along with Representatives Kweisi Mfume (D-Maryland), Mike Lawler (R-New York), Lori Chavez-DeRemer (R-Oregon), James P. McGovern (D-Massachusetts), Dan Goldman (D-New York), Brian Fitzpatrick (R-Pennsylvania), Anthony D’Esposito (R-New York), Marc Molinaro (R-New York), Brittany Pettersen (D-Colorado) and Grace Meng (D-New York) sent a letter to Congressional leadership urging them to allow victims of SNAP theft to continue to be reimbursed from federal and state coffers.
Reports of SNAP theft – in which perpetrators use skimming devices to steal SNAP benefits distributed on electronic debit cards (EBT) – are skyrocketing across the nation. States are currently required to replace stolen benefits under a measure included in the 2023 omnibus funding bill passed by Congress at the end of 2022. But that provision was set to expire on September 30.
“It is appalling that Americans are being targeted at record rates in major SNAP benefit theft. These sickening crimes are carried out against veterans, families, low-income workers, children, the elderly, and the disabled – all of whom are just trying to put food on their table,” said Congressman Kweisi Mfume (MD-07). “Our letter represented a unified effort, across the political aisle, to bring justice to victims in all our respective Congressional Districts. Today’s triumph was a culmination of fierce collaboration between both Democrats and Republicans and boldly fighting for justice on behalf of all households that rely on SNAP,” he concluded.
“I want to thank my colleagues on both sides of the aisle who recognize the dire straits that SNAP theft leaves its victims, which often include veterans, families, low-income workers, children, the elderly and the disabled,” said Congressman Ruppersberger (MD-02). “While Congress continues to work toward its long-term and strategic spending bills, I am relieved to know these innocent constituents will not lose their primary source of healthy food.”
“Ensuring that SNAP recipients who have their benefits stolen are made whole is my top priority and is deeply important to New York families,” said Congressman Mike Lawler (NY-17). “That’s why I joined colleagues in both parties and chambers to introduce the Enhanced Cybersecurity for SNAP Act to protect these programs from fraud, and it’s why I have been adamant about the need to include SNAP protections in FY25’s appropriations. I was pleased to see these provisions in the CR being voted on this week. We must complete our appropriations work while protecting the most vulnerable in our society.”
“I was proud to join this bipartisan group of my colleagues in urging congressional leaders to prevent critical SNAP theft reimbursements from ending,” said Congresswoman Lori Chavez-DeRemer (OR-05). “I’m glad our message was heard and an extension was included in this stopgap funding bill. I’ll keep working to ensure victims of SNAP theft are protected.”
“I am proud to have helped secure an extension that will allow states to use existing federal funding to reimburse vulnerable victims of SNAP theft so that families in need can put food on the table,” Congressman Dan Goldman (NY-10) said. “SNAP theft can be devastating for working families and these reimbursements are a critical lifeline that allows working families to make ends meet. I will continue fighting alongside my colleagues to ensure that states retain this authority when Congress passes its final budget at the end of the year.”
“Families that rely on SNAP to put food on the table each day should never go hungry, especially as a result of their benefits being stolen,” said Congresswoman Grace Meng (NY-06), a senior member of the House Appropriations Committee. “That’s why I fought to help over 36,000 New Yorkers recover more than $17.5 million in stolen SNAP benefits. I’m glad to see that this provision was included and extended in this critical government funding bill. I’ve also been fighting to make EBT benefit cards more secure to deter scams, and I’m excited that this bill includes language that will hopefully lead to more secure EBT cards. Many beneficiaries in Queens and across the country continue to be targeted by these scams, and we must continue fighting for the families in our communities experiencing the greatest needs.”
“Because of our bipartisan push, victims of SNAP theft will continue to be protected through the SNAP Reimbursement Extension,” said Congressman Marc Molinaro (NY-19). “I’m proud to have helped lead the effort to ensure Upstate New York families who rely on SNAP benefits always have access to the meals they deserve.”
“Thousands of Bucks and Montgomery County residents depend on SNAP to put food on their tables, which is why I was proud to join my colleagues in the critical fight to prevent SNAP theft reimbursements from ending. This common-sense reimbursement provision is essential to safeguarding the integrity of the SNAP program and ensuring families in my community and nationwide who have fallen victim to SNAP theft can quickly recover their benefits. Today’s victory is a powerful reminder that when we unite across party lines, we can achieve meaningful change and stand firm in our commitment to uplift our communities and safeguard the well-being of those who need it most,” said Rep. Brian Fitzpatrick (PA-1).
“SNAP recipients who had their food benefits stolen—through no fault of their own, I would add—should not be kicked while they’re down by an indifferent government that tells them ‘too bad’ and leaves them to fend for themselves,” said Congressman Jim McGovern (MA-02). “Especially when the average SNAP benefit is barely over $2 per person, per meal. We’re talking about people who rely on these benefits to feed themselves and their families. When they are stolen, people go hungry. I’m glad that because of our continued advocacy, Congress is making sure that food insecure families are protected through the end of the year.”
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Source: United States House of Representatives – Congressman Kweisi Mfume (MD-07)
WASHINGTON, D.C. – U.S. Congressman Kweisi Mfume, Senators Ben Cardin and Chris Van Hollen, and Congressmen Steny Hoyer, Dutch Ruppersberger, John Sarbanes, Jamie Raskin, and Glenn Ivey met Wednesday at the U.S. Capitol with senior representatives from the U.S. Environmental Protection Agency (EPA), U.S. Department of the Interior and Maryland Department of Natural Resources to discuss planning for the next stage of the Chesapeake Bay program and restoration efforts. This is a critical time for the Bay and the Chesapeake Bay Watershed Agreement, which was signed in 2014. Many of the goals and outcomes for the Bay had a target of 2025. As this date approaches, the Chesapeake Bay Program is determining how best to meet these goals and outcomes, incorporate new science and strategies, and strengthen the multi-state partnership.
At Wednesday’s meeting, members of the Maryland delegation heard from key federal agency and state leaders working towards the next stage of the agreement. Leading the discussion was Adam Ortiz, who serves as the Administrator for EPA Region 3, which governs the Mid-Atlantic Region. In this role Administrator Ortiz is deeply involved in EPA’s role in the Chesapeake Bay Program. The delegation also heard from Department of Interior Deputy Assistant Secretary for Fish, Wildlife, and Parks, Matt Strickler, who serves at the Chesapeake Bay Program’s Principal’s Staff Committee Chair. In 2022, the Chesapeake Executive Council tasked its Principal’s Staff Committee with making recommendations for the future of the EPA Chesapeake Bay Program’s work. Representing senior state leadership was Maryland Department of Natural Resources Secretary Josh Kurtz, who directs Maryland’s role in the multi-state partnership and has deep expertise in the stakeholder community.
The planning effort marked a milestone this summer when the Chesapeake Bay Program Beyond 2025 Steering Committee released its Beyond 2025 Draft Report and invited public feedback.
“Marylanders across our state depend on a healthy Chesapeake Bay — the largest estuary in the United States — for food, recreation, and to make a living,” said Congressman Kweisi Mfume. “Continued collaboration at the federal, state, and local levels is vital to ensure this national treasure flourishes and effective restoration and conservation projects are enacted throughout the Bay and its ecosystem,” he concluded.
“Team Maryland will always fight for the Bay. The Chesapeake Bay is a national treasure, and its restoration is a model for regional, multi-jurisdictional landscape stewardship. It is a model for other regions and other environmental protection efforts at many scales – and it is not simple,” said Senator Cardin. “As the Chesapeake Bay program is recalibrated for the next phase of action, we are committed to securing additional federal resources. We have high expectations for future results.”
“We have a responsibility to protect the Chesapeake Bay – our people, our economy, and our environment depend on it. That’s why we’ve fought to deliver major federal investments to improve the Bay’s health – and while we know they’re making a real difference, the watershed states have more work to do to reach our restoration goals. As we near the Bay Agreement’s 2025 benchmark, we must take stock of the challenges faced in meeting its goals and work together to drive further progress toward a healthier Chesapeake Bay,” said Senator Van Hollen.
“I’ve been proud to work with our delegation to support the health of the Chesapeake Bay and its tributaries throughout my career – especially in the past decade since we secured the 2014 Chesapeake Bay Watershed Agreement,” Congressman Hoyer said. “I was pleased our delegation could meet with our partners in federal and state government to discuss the progress we’ve made toward fulfilling the various goals we laid out in that agreement and to assess the important work that remains. The Chesapeake Bay is the beating heart of Maryland and a true national treasure, and we will continue working to preserve it for generations to come.”
“Ten years ago, we set aggressive but necessary goals to restore and protect our treasured Chesapeake Bay, which has taken an all-hands-on-deck approach from every level of government,” Congressman Ruppersberger said. “As we approach our deadline, we must ensure we are leveraging new technologies and sciences and collaborating with our other watershed states as effectively as possible. I appreciated this opportunity to come together and discuss our long and short-term strategies, especially as my own time in office draws to a close.”
“Today’s discussions provided an opportunity to reaffirm our collective vision for the future of the Chesapeake Bay. It is imperative that the next phase of watershed restoration is centered around achieving goals and outcomes that reflect the current, best available science to ensure the health of our communities, the vitality of our region and a sustainable future for Bay ecosystems and natural resources. We look forward to sustained collaboration with federal, state and local government partners as we continue to support Beyond 2025 planning,” said Congressman Sarbanes.
“Team Maryland is united in our efforts to restore and protect the Chesapeake Bay, a treasured natural resource and cornerstone of our local ecosystem,” said Congressman Raskin. “I’m grateful to our EPA and Maryland state government partners for their continued collaboration with the Maryland Congressional delegation to preserve the Bay for generations to come.”
“Protecting the Chesapeake Bay is everyone’s responsibility. We are grateful for our longtime Maryland advocates now on the federal and state level, Adam Ortiz, and Josh Kurtz, respectively. Local, state, and federal partnerships can help keep our national treasure, the Chesapeake Bay, available for all to appreciate and partake in. Crabbing, fishing, sailing and otherwise being active in and around its shores are activities we want to cherish well into the future and our actions today will make sure that our kids and grandkids can benefit from the Bay in their tomorrow’s,” said Congressman Ivey.
“It is not an accident that the Bay recently received its highest grade in 22 years. Through historic investments and coordination, we’re seeing progress and momentum in states and sectors that were previously lagging,” said EPA Regional Administrator Ortiz. “The Biden-Harris Administration is making good on its promise to accelerate the Bay effort.”
“The Moore-Miller administration thanks the Maryland congressional delegation for their continued strong leadership on the restoration of the Chesapeake Bay. Their efforts have resulted in improvements in water quality and the health of the ecosystem,” said Maryland Department of Natural Resources Secretary Josh Kurtz. “It was an honor today to discuss our plans to focus our work post-2025 on rebuilding habitat, creating resiliency in the face of climate change, and charting a new future for the Chesapeake Bay.”
The Chesapeake Executive Councilconsists of the governors of the six watershed states, the mayor of the District of Columbia, the chair of the Chesapeake Bay Commission and the administrator of the U.S. Environmental Protection Agency. It establishes the policy direction for the restoration and protection of the Chesapeake Bay.
The Principals Staff Committee (PSC) acts as the policy advisors to the Executive Council, accepting items for Council consideration and approval, and setting agendas for Council meetings. Individual members of the PSC arrange and provide briefings to their principals, the Agreement signatories. The PSC also provides policy and program direction to the Management Board.
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US Senate News:
Source: United States Senator for Minnesota Amy Klobuchar
WASHINGTON – U.S. Senator Amy Klobuchar (D-MN), a senior member of the Senate Commerce Committee, announced that the National Telecommunications and Information Administration (NTIA) at the U.S. Department of Commerce approved Minnesota’s plan for broadband infrastructure deployment. This development advances Minnesota to the next step in their planned affordable broadband rollout across the state.
Klobuchar’s Accessible, Affordable Internet for All Act was incorporated into the Bipartisan Infrastructure Law and was the basis for the significant federal funding to Minnesota for expanding high-speed internet access.
“Internet access is necessary for everything from education to healthcare, not to mention for keeping in touch with friends and family. However, many households in Minnesota currently don’t have a reliable broadband connection,” said Klobuchar. “That is why I fought to secure this game changing investment that will deliver affordable and reliable high-speed internet to everyone in Minnesota. With the approval of Minnesota’s rollout plan, we are one step closer to connecting every corner of our state.”
Klobuchar has long led efforts to expand broadband access, support rural broadband, and bridge the digital divide.
In June 2023, Klobuchar announced that the U.S. Department of Commerce had awarded major federal funding through the Bipartisan Infrastructure Law to bring reliable, affordable, high-speed internet access to every household in Minnesota. The Accessible, Affordable Internet for All Act, Klobuchar’s legislation with Former House Majority Whip Jim Clyburn (D-SC) to expand high-speed internet nationwide, served as the basis for the program created by the Bipartisan Infrastructure Law.
In March 2023, Klobuchar and Senators John Thune (R-SD), John Hickenlooper (D-CO), and Jerry Moran (R-KS) reintroduced bipartisan legislation to expand broadband access to rural communities. The Reforming Broadband Connectivity Act would strengthen funding mechanisms for the Federal Communications Commission’s (FCC) Universal Service Fund (USF), which promotes universal access to broadband and other telecommunications services. Currently, the USF is primarily funded through landline fees, disproportionately impacting seniors, who are more likely to use landlines than other Americans.
In February 2023, Klobuchar introduced bipartisan legislation with Senator Shelley Moore Capito (R-WV) to strengthen broadband access for rural communities. The Rural Broadband Protection Act would ensure that providers applying for federal funding can reliably deliver broadband to underserved, rural communities.
In July 2021, Klobuchar introduced bipartisan legislation with Senator Chuck Grassley (R-IA) to expand rural broadband access by streamlining the funding process and removing barriers for broadband connectivity in hard-to-serve rural areas.
Source: World Economic Forum (video statements)
After the pandemic, Tiya Gordon realized the next global crisis would be climate based. To that end, she’s co-founded It’s Electric, a curbside solution that takes power from buildings, sidestepping the currently time-consuming permitting and installation process that slows the growth of charging stations in cities around the world. She shares how her design background has helped her be clear-eyed on objectives, identify fresh approaches and break down stubborn barriers, all to speed the change needed for the energy transition. To learn more: Guest: https://www.itselectric.us/Report: Scaling Investment in EV Charging: A Policy Roadmap for Cities (https://www.weforum.org/publications/scaling-investment-in-ev-charging-a-policy-roadmap-for-cities/) Related podcasts: An energy company is building the world’s largest airplane. Here’s why: https://www.weforum.org/podcasts/meet-the-leader/episodes/mark-lundstrom-radia-climate-change/ 7 top innovators share strategies that drive cutting edge solutions: https://www.weforum.org/podcasts/meet-the-leader/episodes/top-innovator-strategies-tactics/
Source: United States House of Representatives – Representative Lauren Boebert (Colorado, 3)
Washington, D.C. — U.S. Congresswoman Lauren Boebert (CO-03) released the following statement after introduction of H.R. 9756, legislation that ensures private sector competition in microtransit services:
The “Private Sector Competition in Microtransit Act” would require any state or local government that receives federal funds to operate microtransit services enter into a contract with a private entity for the operation of such services.
“Microtransit is a critical service, especially for our elderly and disabled citizens who often face barriers to accessing traditional public transportation. These small-scale, on-demand services provide a vital lifeline to individuals who need to get to medical appointments, grocery stores, or simply visit loved ones. Unfortunately, government-run microtransit services are putting private-sector businesses at a disadvantage, often driving them out of the market. This results in higher costs for taxpayers—2 to 3 times more than what the private sector can offer—and less innovation and efficiency. My legislation will level the playing field by encouraging private-sector participation and reducing government interference. This will not only lead to better services for those who depend on microtransit, but it will also ensure that our taxpayers’ dollars are used more effectively,” said Congresswoman Boebert.
“We are grateful for Rep. Lauren Boebert’s introduction of H.R. 9756, which creates opportunities for private sector small businesses through microtransit initiatives. Promoting microtransit will empower local small businesses to thrive, improve transportation access, and strengthen our economy. This legislation makes sense for local communities in Douglas County and across Colorado, and we look forward to working on its passage with Congresswoman Boebert.” –Joint Statement by Douglas County Commissioners Abe Laydon, George Teal, and Lora Thomas
“I have been deeply encouraged by Representative Boebert’s willingness to take meaningful action on issues of importance to Douglas County,” said Douglas County Commissioner Abe Laydon.
“Rep. Boebert’s understanding of our industry’s challenges is evident in this important legislation. Small businesses, especially in the transportation sector, were devastated by the COVID-19 lockdowns, where they lost 90% of their business. Many were forced to dip into their retirement savings just to stay afloat. The biggest competitors to small businesses should not be the federal government. This bill ensures that the private sector continues to thrive and provide these essential services,” said Bill Yuhnke, President of The Transportation Alliance, in a press release.
Full text of Rep. Boebert’s Private Sector Competition in Microtransit Act of 2024 can be found HERE.
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