Category: Machine Learning

  • MIL-OSI USA: NEWS RELEASE: REAL ESTATE COMMISSION TO HOST MEETINGS AND CONSULTATIONS IN HILO

    Source: US State of Hawaii

    NEWS RELEASE: REAL ESTATE COMMISSION TO HOST MEETINGS AND CONSULTATIONS IN HILO

    Posted on Oct 24, 2024 in Latest Department News, Newsroom

    DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS
    KA ʻOIHANA PILI KĀLEPA

    PROFESSIONAL AND VOCATIONAL LICENSING DIVISION

    JOSH GREEN, M.D.
    GOVERNOR | KE KIAʻĀINA

    NADINE Y. ANDO
    DIRECTOR | KA LUNA HOʻOKELE

    AHLANI K. QUIOGUE
    LICENSING ADMINISTRATOR

    FOR IMMEDIATE RELEASE

    October 23, 2024

    REAL ESTATE COMMISSION TO HOST MEETINGS AND CONSULTATIONS IN HILO

    HONOLULU – The Real Estate Commission will convene its monthly meeting at 9:30 a.m. Friday, October 25, 2024 in the State Office Building at 75 Aupuni Street in Hilo. The meeting will be in Conference Room C on the first floor.

    Real estate licensees, government officials, members of the condominium community, educators and interested individuals and organizations are encouraged to participate in this meeting. Members of the Real Estate Commission and the commission’s staff will be present. The commission invites comments and recommendations on current and future programs.

    Concurrently, a real estate specialist and a condominium specialist will be available for individual meetings after the commission meeting or by appointment.

    A real estate specialist will be available to answer questions about licensing laws and rules, licensing applications, broker experience certificate applications, examination administration, continuing education, new legislation, real estate commission procedures, educational programs and other related topics.

    A condominium specialist will be available to answer questions about boards, associations, meetings, condominium managing agents, condominium association registration, fidelity bonding, condominium property regime statute, public reports, project registration, new legislation, reserves and other condominium-related topics.

    For more information, contact the Real Estate Branch at 808-586-2643 or call toll-free from the island of Hawai‘i at 808-974-4000, ext. 62643.

    # # #

    The Real Estate Commission is one of 52 boards, commissions and programs administratively attached to the Department of Commerce and Consumer Affairs’ Professional and Vocational Licensing Division. It is responsible for the licensure, education and discipline of real estate agents; registration of prelicense schools, continuing education providers, condominium projects, condominium associations, condominium managing agents and condominium hotel operators; and certification of prelicense and continuing education courses and prelicense instructors.

    Media Contact:

    William Nhieu

    Communications Officer

    Department of Commerce and Consumer Affairs

    [email protected]

    Office: 808-586-7582

    MIL OSI USA News

  • MIL-OSI Economics: Joint Press Statement of the Eight ASEAN-India Ministerial Meeting on Agriculture and Forestry (the 8th AIMMAF)

    Source: ASEAN

    The Eighth ASEAN India Ministerial Meeting on Agriculture and Forestry was held
    virtually on 25 October 2024. The Meeting was co-chaired by Myanmar and India.The Meeting commended the significant progress made in the implementation of the Medium-Term Plan of Action for ASEAN-India Cooperation in Agriculture and Forestry (2021–2025). This plan aims to promote investment, develop human resources in the food, agriculture, forestry, and fisheries sub-sectors by providing opportunities for the youth of ASEAN, and enhance the resilience of natural systems while improving the adaptive capacities of human communities to cope with environmental hazards. The Meeting noted that various projects to support these initiatives have been implemented as part of a regional strategy focusing on sustainable and regenerative agriculture between ASEAN and India.

    Download the full statement here.
    The post Joint Press Statement of the Eight ASEAN-India Ministerial Meeting on Agriculture and Forestry (the 8th AIMMAF) appeared first on ASEAN Main Portal.

    MIL OSI Economics

  • MIL-OSI Banking: Joint Press Statement of the Eight ASEAN-India Ministerial Meeting on Agriculture and Forestry (the 8th AIMMAF)

    Source: ASEAN

    The Eighth ASEAN India Ministerial Meeting on Agriculture and Forestry was held
    virtually on 25 October 2024. The Meeting was co-chaired by Myanmar and India.The Meeting commended the significant progress made in the implementation of the Medium-Term Plan of Action for ASEAN-India Cooperation in Agriculture and Forestry (2021–2025). This plan aims to promote investment, develop human resources in the food, agriculture, forestry, and fisheries sub-sectors by providing opportunities for the youth of ASEAN, and enhance the resilience of natural systems while improving the adaptive capacities of human communities to cope with environmental hazards. The Meeting noted that various projects to support these initiatives have been implemented as part of a regional strategy focusing on sustainable and regenerative agriculture between ASEAN and India.

    Download the full statement here.
    The post Joint Press Statement of the Eight ASEAN-India Ministerial Meeting on Agriculture and Forestry (the 8th AIMMAF) appeared first on ASEAN Main Portal.

    MIL OSI Global Banks

  • MIL-OSI: Awilco Drilling PLC: Minutes from Extraordinary General Meeting

    Source: GlobeNewswire (MIL-OSI)

    An Extraordinary General Meeting of Awilco Drilling PLC was held Friday 25 October 2024 at 11:00am (UK time), at the Company’s registered office, Suite 1, 7th Floor, 50 Broadway, London, SW1H 0BL, United Kingdom.

    The resolution set out in the Meeting Notice was duly passed. The signed minutes of meeting are attached hereto.

    The Meeting Notice is available on our website www.awilcodrilling.com, under ‘Investor Relations/General Meetings’.

    Aberdeen, 25 October 2024

    For further information please contact:

    Eric Jacobs, Interim CEO
    Phone: +47 9529 2271

    Cathrine Haavind, Investor Relations
    Phone: +47 9342 8464
    Email: ch@awilcodrilling.com

    This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

    Attachment

    The MIL Network

  • MIL-OSI: Silvaco Inc. Achieves ISO 9001 Certification for Comprehensive Suite of TCAD, EDA, and IP Products

    Source: GlobeNewswire (MIL-OSI)

    SANTA CLARA, Calif., Oct. 25, 2024 (GLOBE NEWSWIRE) — Silvaco Group, Inc. (Nasdaq: SVCO), a provider of TCAD, EDA software, and SIP solutions that enable semiconductor design and digital twin modeling through AI software and innovation, is proud to announce that its wholly-owned subsidiary Silvaco, Inc. (“Silvaco” or the “Company”) has obtained ISO 9001 certification of its quality management system to support its TCAD, EDA software, and SIP solutions. The certification underscores Silvaco’s ongoing commitment to quality, customer satisfaction, and continuous improvement across its entire portfolio products. 

    The certification was performed by Schellman Compliance, LLC, an ANAB accredited Certification Body based in the United States. The details of Silvaco’s certification is publicly available at https://www.schellman.com/certificate-directory.

    Description of the ISO 9001 Standard

    ISO 9001 is a globally recognized standard for the establishment and certification of a quality management system (QMS). The standard specifies the requirements to plan, establish, implement, operate, monitor, review, maintain and continually improve a documented management system to protect against, reduce the likelihood of occurrence, prepare for, respond to, and recover from disruptive incidents when they arise. It is intended to be applicable to all organizations, or parts thereof, regardless of type, size and nature of the organization.

    The ISO 9001 certification signifies that Silvaco has implemented effective processes and controls to ensure the consistent quality of its products and services, from design and development to delivery and support. By achieving ISO 9001 certification, Silvaco is committed to developing and delivering high-quality solutions that enable semiconductor design and digital twin modeling through AI software and innovation.

    “We are thrilled to achieve ISO 9001 certification, which reflects our dedication to maintaining the highest standards of quality in every aspect of our business,” said Dr. Babak Taheri, CEO and Director of Silvaco. “This milestone reinforces our commitment to delivering innovative technology that meets international standards, and the evolving needs of our customers in the semiconductor and electronics industries.”

    “Silvaco’s achievement of ISO 9001 certification demonstrates the Company’s commitment in implementing a robust and effective quality management system,” said Danny Manimbo, Principal and ISO Practice Director, Schellman. “By meeting the requirements of ISO 9001, Silvaco has shown its dedication to operational excellence and delivering high-quality services to its customers. We commend Silvaco for reaching this important milestone and look forward to its continued success.”

    Silvaco’s suite of TCAD, EDA, and IP products supports the design, simulation and verification of advanced semiconductor devices and systems. The company’s solutions enable semiconductor and photonics companies to increase productivity, accelerate their products’ time-to-market and reduce their development and manufacturing costs.

    “This certification reflects the rigorous standards we uphold in developing and delivering our TCAD, EDA, and IP products and is an important step towards Silvaco’s broader strategy of maintaining leadership in those markets,” said Brian Bradburn, Sr. Vice President of Operations of Silvaco. “Not only does this highlight Silvaco’s commitment to continuous quality improvement and technological innovation, but this also ensures that our customers and partners can trust the superior support and consistency of the products we bring to the semiconductor industry.”

    About Schellman
    Schellman is a leading provider of attestation and compliance services. We are the only company in the world that is a CPA firm, a globally licensed PCI Qualified Security Assessor, an ISO Certification Body, HITRUST CSF Assessor, a FedRAMP 3PAO, and most recently, an APEC Accountability Agent. Renowned for expertise tempered by practical experience, Schellman’s professionals provide superior client service balanced by steadfast independence. Our approach builds successful, long-term relationships and allows our clients to achieve multiple compliance objectives through a single third-party assessor.

    About Silvaco 
    Silvaco is a provider of TCAD, EDA software, and SIP solutions that enable semiconductor design and digital twin modeling through AI software and innovation. Silvaco’s solutions are used for semiconductor and photonics processes, devices, and systems development across display, power devices, automotive, memory, high performance compute, foundries, photonics, internet of things, and 5G/6G mobile markets for complex SoC design. Silvaco is headquartered in Santa Clara, California, and has a global presence with offices located in North America, Europe, Brazil, China, Japan, Korea, Singapore, and Taiwan. 

    Safe Harbor Statement
    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended, that are intended to be covered by the “safe harbor” provisions of those sections. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business, and can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements are typically identified by the use of words such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “estimate,” “potential,” “continue,” and similar expressions, although not all forward-looking statements contain these words. These statements are based on the Company’s current expectations and assumptions and are subject to risks, uncertainties, and other factors, including those described in the Company’s most recent Quarterly Report on Form 10-Q and other filings with the Securities and Exchange Commission. These factors may cause actual results to differ materially from those expressed or implied by forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

    Media Contact
    Tyler Weiland
    press@silvaco.com

    Investor Relations:
    Greg McNiff
    investors@silvaco.com

    The MIL Network

  • MIL-OSI: Lakeland Financial Reports Third Quarter Net Income of $23.3 Million, Organic Loan Growth of 5% and Organic Deposit Growth of 4%

    Source: GlobeNewswire (MIL-OSI)

    WARSAW, Ind., Oct. 25, 2024 (GLOBE NEWSWIRE) — Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported net income of $23.3 million for the three months ended September 30, 2024, which represents a decrease of $1.9 million, or 8%, compared with net income of $25.3 million for the three months ended September 30, 2023. Diluted earnings per share were $0.91 for the third quarter of 2024 and decreased $0.07, or 7%, compared to $0.98 for the third quarter of 2023. On a linked quarter basis, net income increased $789,000, or 3%, from second quarter 2024 net income of $22.5 million. Diluted earnings per share increased $0.04, or 5%, from $0.87 on a linked quarter basis.

    Pretax pre-provision earnings, which is a non-GAAP measure, were $30.8 million for the three months ended September 30, 2024, an increase of $666,000, or 2%, compared to $30.1 million for the three months ended September 30, 2023. On a linked quarter basis, pretax pre-provision earnings decreased $4.6 million, or 13%, compared to $35.4 million for the second quarter of 2024.

    The company further reported net income of $69.3 million for the nine months ended September 30, 2024, versus $64.1 million for the comparable period of 2023, an increase of $5.1 million, or 8%. Diluted earnings per share also increased 8% to $2.69 for the nine months ended September 30, 2024, versus $2.49 for the comparable period of 2023. Pretax pre-provision earnings were $95.5 million for the nine months ended September 30, 2024, an increase of $15.7 million, or 20%, compared to $79.8 million for the nine months ended September 30, 2023.

    “Our long-term track record of serving our clients and communities through organic loan and deposit growth continued during the third quarter of 2024 and we are pleased with our performance for the quarter,” commented David M. Findlay, Chairman and Chief Executive Officer. “We continue to be encouraged by the strength of economic activity in our Indiana markets and are really well positioned to take advantage of the ongoing growth and investment we are seeing throughout our footprint.”

    Quarterly Financial Performance

    Third Quarter 2024 versus Third Quarter 2023 highlights:

    • Tangible book value per share grew by $5.47, or 25%, to $27.07
    • Total risk-based capital ratio of 15.75%, compared to 15.13%
    • Tangible capital ratio improved to 10.47%, compared to 8.62%
    • Average loans grew by $214.6 million, or 4%, to $5.06 billion
    • Core deposit growth of $261.2 million, or 5%
    • Return on average equity of 13.85%, compared to 16.91%
    • Return on average assets of 1.39%, compared to 1.54%
    • Net interest margin of 3.16% versus 3.21%
    • Noninterest income growth of $1.1 million, or 10%
    • Revenue improved by 3% to $61.2 million
    • Noninterest expense increased by $1.3 million, or 4%
    • Provision expense of $3.1 million, compared to $400,000
    • Net charge offs of $143,000 versus $353,000
    • Watch list loans as a percentage of total loans increased to 5.27% from 3.83%

    Third Quarter 2024 versus Second Quarter 2024 highlights:

    • Tangible book value per share grew by $1.73, or 7%
    • Total risk-based capital ratio improved to 15.75% from 15.53%
    • Tangible capital ratio of 10.47%, compared to 9.91%
    • Core deposits increased by $138.3 million, or 2%
    • Average loans grew by $29.5 million, or 1%, to $5.06 billion
    • Net interest margin of 3.16% versus 3.17%
    • Return on average equity of 13.85%, compared to 14.19%
    • Return on average assets of 1.39%, compared to 1.37%
    • Noninterest income decreased by $8.5 million, or 42%
    • Noninterest expense decreased by $2.9 million, or 9%
    • Provision expense of $3.1 million compared to $8.5 million
    • Watch list loans as a percentage of total loans improved to 5.27% from 5.31%

    Capital Strength

    The company’s total capital as a percentage of risk-weighted assets improved to 15.75% at September 30, 2024, compared to 15.13% at September 30, 2023 and 15.53% at June 30, 2024. These capital levels significantly exceeded the 10.00% regulatory threshold required to be characterized as “well capitalized” and reflect a strengthening of the company’s strong capital base.

    The company’s tangible common equity to tangible assets ratio, which is a non-GAAP financial measure, improved to 10.47% at September 30, 2024, compared to 8.62% at September 30, 2023 and 9.91% at June 30, 2024. Unrealized losses from available-for-sale investment securities improved to $154.5 million at September 30, 2024, compared to $266.4 million at September 30, 2023 and $194.9 million at June 30, 2024. When excluding the impact of accumulated other comprehensive income (loss) on tangible common equity and tangible assets, the company’s ratio of adjusted tangible common equity to adjusted tangible assets, a non-GAAP financial measure, improved to 12.29% at September 30, 2024, compared to 11.74% at September 30, 2023 and 12.18% at June 30, 2024.

    Kristin L. Pruitt, President, commented, “Our capital structure is a critical strength of our balance sheet, as it has been for a very long time. This exceptionally strong capital retention supports our plans for continued organic growth as well as total return to shareholders through our common stock dividend.”

    As announced on October 8, 2024, the board of directors approved a cash dividend for the third quarter of $0.48 per share, payable on November 5, 2024, to shareholders of record as of October 25, 2024. The third quarter dividend per share represents a 4% increase from the $0.46 dividend per share paid for the third quarter of 2023.

    Loan Portfolio

    Average total loans of $5.06 billion in the third quarter of 2024, increased $214.6 million, or 4%, from $4.85 billion for the third quarter of 2023, and increased $29.5 million, or 1%, from $5.03 billion for the second quarter of 2024.

    Average total loans for the nine months ended September 30, 2024 were $5.02 billion, an increase of $232.1 million, or 5%, from $4.79 billion for the nine months ended September 30, 2023.

    “Loan growth has been steady in 2024 and has been funded through healthy deposit growth. We are seeing increased activity with our manufacturing clients as we experienced $91 million, or 6%, of commercial and industrial loan growth as compared to September 30, 2023. In addition, commercial real estate loan balances increased as our relationships with in-market long-term clients expanded with projects moving forward supported by good demand and high-quality developments. As a result, commercial real estate and multi-family loans grew $128 million, or 5% year over year,” noted Findlay. “Our retail and consumer lending teams have also experienced healthy growth of $54 million or 9% in the last year. Our highly diverse loan portfolio growth continues, and it is gratifying to see both commercial and consumer lending positively impacting our balance sheet growth.”

    Total loans, net of deferred loan fees, increased by $211.0 million, or 4%, from $4.87 billion as of September 30, 2023 to $5.08 billion as of September 30, 2024. The increase in loans occurred across much of the portfolio with our commercial real estate and multi-family residential loan portfolio growing by $127.4 million, or 5%, our commercial and industrial loan portfolio growing by $90.7 million, or 6%, and our consumer 1-4 family mortgage loans portfolio growing by $36.3 million, or 8%. These increases were offset by a decrease to total agribusiness and agricultural loans of $22.1 million, or 6%, and a decrease to other commercial loans of $31.6 million, or 25%. On a linked quarter basis, total loans net of deferred loan fees increased by $29.6 million, or 1%, from $5.05 billion at June 30, 2024. The linked quarter increase was primarily a result of growth in construction and land development loans of $70.9 million, or 11%, and growth in total consumer loans of $21.7 million, or 4%. Offsetting this growth were declines in total commercial and industrial loans of $33.4 million, or 2%, and in owner occupied loans of $19.6 million, or 2%.

    Commercial loan originations for the third quarter included approximately $316.0 million in loan originations, offset by approximately $308.0 million in commercial loan pay downs. Line of credit usage increased to 41% as of September 30, 2024, compared to 39% at September 30, 2023 and was unchanged from 41% as of June 30, 2024. Total available lines of credit contracted by $69.0 million, or 1%, as compared to a year ago, and line usage increased by $96.0 million, or 5%, over that period. The company has limited exposure to commercial office space borrowers, all of which are in the bank’s Indiana markets. Loans totaling $102.6 million for this sector represented 2% of total loans at September 30, 2024, an increase of $1.4 million, or 1%, from June 30, 2024. Commercial real estate loans secured by multi-family residential properties and secured by non-farm non-residential properties were approximately 210% of total risk-based capital at September 30, 2024.

    Diversified Deposit Base

    The bank’s diversified deposit base has grown on a year over year basis and on a linked quarter basis.

     
    DEPOSIT DETAIL
    (unaudited, in thousands)
     
      September 30, 2024   June 30, 2024   September 30, 2023
    Retail $ 1,709,899   29.3 %   $ 1,724,777   29.9 %   $ 1,761,235   31.1 %
    Commercial   2,304,041   39.5       2,150,127   37.3       2,154,853   38.1  
    Public funds   1,726,869   29.6       1,727,593   30.0       1,563,557   27.7  
    Core deposits   5,740,809   98.4       5,602,497   97.2       5,479,645   96.9  
    Brokered deposits   96,504   1.6       161,040   2.8       177,430   3.1  
    Total $ 5,837,313   100.0 %   $ 5,763,537   100.0 %   $ 5,657,075   100.0 %
                                       

    Total deposits increased $180.2 million, or 3%, from $5.66 billion as of September 30, 2023 to $5.84 billion as of September 30, 2024. The increase in total deposits was driven by an increase in core deposits (which excludes brokered deposits) of $261.2 million, or 5%. Total core deposits at September 30, 2024 were $5.74 billion and represented 98% of total deposits, as compared to $5.48 billion and 97% of total deposits at September 30, 2023. Brokered deposits were $96.5 million, or 2% of total deposits, at September 30, 2024, compared to $177.4 million, or 3% of total deposits, at September 30, 2023.

    The change in composition of core deposits since September 30, 2023 reflects growth in commercial deposits and public funds deposits. As of September 30, 2024, commercial deposits as a percentage of total deposits increased to 39%, from 38%, public fund deposits as a percentage of total deposits increased to 30%, from 28%, and retail deposits as a percentage of total deposits contracted to 29%, from 31%, compared to balances a year ago. Commercial deposits grew annually by $149.2 million, or 7%, to $2.30 billion. Public funds deposits grew annually by $163.3 million, or 10%, to $1.73 billion. Retail deposits contracted annually by $51.3 million, or 3%, to $1.71 billion. Growth in public funds was positively impacted by the addition of a new public funds customer in the Lake City Bank footprint which included the addition of its operating accounts. Net retail outflows since September 30, 2023, reflect the continued utilization of deposits from peak savings levels during 2021.

    Findlay noted, “We are pleased with annual core deposit growth of 5% or $261 million in 2024. The deposit mix shift that began in early 2023 has stabilized with growth in noninterest bearing deposits during the third quarter of 2024. Our retail banking team has done a terrific job continuing to drive market share growth in our core Indiana markets and we are pleased with our market share performance in all of our Indiana markets. Core deposit gathering is a strategic focus, continues to improve and today represents 98% of total deposits, up from 97% a year ago.”

    On a linked quarter basis, total deposits increased $73.8 million, or 1%, from $5.76 billion at June 30, 2024 to $5.84 billion at September 30, 2024. Core deposits increased by $138.3 million, or 2%, while brokered deposits decreased by $64.5 million, or 40%. Linked quarter growth in core deposits resulted from growth in commercial deposits of $153.9 million, or 7%. Offsetting the increase in commercial deposits was contraction in retail deposits of $14.9 million, or 1%, and contraction in public funds deposits of $724,000, or less than 1%.

    Average total deposits were $5.88 billion for the third quarter of 2024, an increase of $307.7 million, or 6%, from $5.57 billion for the third quarter of 2023. Average interest-bearing deposits drove the increase to average total deposits and increased by $481.2 million, or 12%. Contributing to the overall growth of interest-bearing deposits was an increase to average interest-bearing checking accounts of $422.1 million, or 15%, and growth in average time deposits of $108.4 million, or 11%. Offsetting these increases was a decrease to average savings deposits of $49.4 million, or 15%. Average noninterest-bearing demand deposits decreased by $173.5 million, or 12%.

    On a linked quarter basis, average total deposits increased by $60.2 million, or 1%, from $5.82 billion for the second quarter of 2024 to $5.88 billion for the third quarter of 2024. Average interest-bearing deposits drove the increase to total average deposits, which increased by $46.9 million, or 1%. Contributing to the overall growth of interest-bearing deposits was an increase to total average time deposits of $35.5 million, or 3%, and an increase to interest bearing checking accounts of $20.4 million, or 1%. Offsetting these increases was a decrease to average savings deposits of $8.9 million, or 3%. Average noninterest-bearing demand deposits increased by $13.3 million, or 1%.

    Checking account trends compared to September 30, 2023, include growth of $181.7 million, or 14%, in aggregate public fund checking account balances and growth of $144.7 million, or 7%, in aggregate commercial checking account balances, and a contraction of $2.5 million, or less than 1%, in aggregate retail checking account balances. The number of accounts has also grown for all three segments, with growth of 14% for public funds accounts, 3% for commercial accounts and 2% for retail accounts.

    Deposits not covered by FDIC deposit insurance as a percentage of total deposits were 61% as of September 30, 2024, compared to 54% at both June 30, 2024 and September 30, 2023, reflecting the growth in public fund deposits over the period. Deposits not covered by FDIC deposit insurance or the Indiana Public Deposit Insurance Fund (which insures public funds deposits in Indiana), were 32% of total deposits as of September 30, 2024, compared to 29% at June 30, 2024, and 28% as of September 30, 2023. As of September 30, 2024, 98% of deposit accounts had deposit balances less than $250,000.

    Liquidity Overview

    The bank has robust liquidity resources. These resources include secured borrowings available from the Federal Home Loan Bank and the Federal Reserve Bank Discount Window. In addition, the bank has unsecured borrowing capacity through long established relationships within the brokered deposits markets, Federal Funds lines from correspondent bank partners, and Insured Cash Sweep (ICS) one-way buy funds available from the Intrafi network. As of September 30, 2024, the company had access to an aggregate of $3.7 billion in liquidity from these sources, compared to $3.3 billion at both September 30, 2023 and June 30, 2024. Utilization from these sources totaled $96.5 million at September 30, 2024, compared to $267.4 million at September 30, 2023 and $161.0 million at June 30, 2024. Core deposits have historically represented, and currently represent, the primary funding resource of the bank at 98% of total deposits and purchased funds.

    Investment Portfolio Overview

    Total investment securities were $1.15 billion at September 30, 2024, reflecting an increase of $42.8 million, or 4%, as compared to $1.11 billion at September 30, 2023. On a linked quarter basis, investment securities increased $24.0 million, or 2%, due primarily to improvement in the fair market value of available-for-sale securities of $40.4 million and partially offset by portfolio cash flows of $15.1 million. Investment securities represented 17% of total assets on September 30, 2024, September 30, 2023 and June 30, 2024. The ratio of investment securities as a percentage of total assets remains elevated over historical levels of approximately 12% to 14%. The company expects the investment securities portfolio as a percentage of assets to continue to decrease over time as the proceeds from pay downs, sales and maturities are used to fund loan portfolio growth and for general liquidity purposes. Tax equivalent adjusted effective duration for the investment portfolio was 6.3 years at September 30, 2024, compared to 6.7 years and 6.5 years at September 30, 2023 and June 30, 2024, respectively. Tax equivalent adjusted effective duration of the investment portfolio remains elevated as compared to 4.0 years at December 31, 2019 prior to the deployment of excess liquidity to the investment portfolio and the increased rate environment. The company anticipates receiving principal and interest cash flows of approximately $26.4 million throughout the remainder of 2024 and $104.7 million during 2025 from its investment securities portfolio.

    Net Interest Margin

    Net interest margin was 3.16% for the third quarter of 2024, representing a 5 basis point decrease from 3.21% for the third quarter of 2023. Earning assets yields increased by 23 basis points to 6.04% for the third quarter of 2024 from 5.81% for the third quarter of 2023. The increase in earning asset yields was offset by an increase in the company’s funding costs of 28 basis points as interest expense as a percentage of average earning assets increased to 2.88% for the third quarter of 2024 from 2.60% for the third quarter of 2023. Increased industry competition for deposits has driven funding costs as a percentage of average earning assets to rise more aggressively than earning asset yields since the third quarter of 2023. Notably, the deposit mix shift from noninterest bearing deposits to interest bearing deposits encountered by the company during the recent monetary tightening cycle has stabilized with noninterest bearing deposits representing 22% of total deposits at September 30, 2024, compared to 24% at September 30, 2023 and 21% at June 30, 2024. In 2019, prior to the pandemic and the related stimulus plans, the ratio of noninterest bearing deposits to total deposits stood at 24% as of December 31, 2019.

    Linked quarter net interest margin contracted by 1 basis point to 3.16% for the third quarter of 2024, compared to 3.17% for the second quarter of 2024. Average earning asset yields decreased by 3 basis points from 6.07% during the second quarter of 2024 to 6.04% during the third quarter of 2024 and were partially offset by a 2 basis point decrease in interest expense as a percentage of average earning assets from 2.90% to 2.88%.

    “Net interest margin has stabilized and has responded well to the first federal fund rate decrease of 50 basis points late in the third quarter. The bank’s net interest margin expanded by 4 basis points on a linked quarter basis, excluding the impact of increased nonperforming loans. In addition, noninterest bearing deposits grew modestly during the quarter as compared to June 30, 2024. While our balance sheet continues to be assets sensitive, we are encouraged by the impact of the Federal Reserve Bank rate action,” commented Lisa M. O’Neill, Executive Vice President and Chief Financial Officer.

    The cumulative loan beta, which measures the sensitivity of a bank’s average loan yield to changes in short-term interest rates, was 56% for the recent rate-tightening cycle, compared to 61% during the prior tightening cycle from 2016 through 2019. The cumulative deposit beta, which measures the sensitivity of a bank’s deposit cost to changes in short-term interest rates, was 54% for the recent rate-tightening cycle, compared to 45% during the prior tightening cycle.

    Net interest income was $49.3 million for the third quarter of 2024, representing an increase of $880,000, or 2%, as compared to $48.4 million for the third quarter of 2023. On a linked quarter basis, net interest income increased $977,000, or 2%, from $48.3 million for the second quarter of 2024. Net interest income decreased by $3.5 million, or 2%, from $148.4 million for the nine months ended September 30, 2023, to $145.0 million for the nine months ended September 30, 2024.

    Asset Quality

    The company recorded a provision for credit losses of $3.1 million in the third quarter of 2024, an increase of $2.7 million, as compared to $400,000 in the third quarter of 2023. On a linked quarter basis, the provision expense decreased by $5.4 million, from $8.5 million for the second quarter of 2024. The elevated provision expense during the second quarter of 2024 was primarily attributable to an increase in the specific reserve allocation from the downgrade of a $43.3 million credit to an industrial company in Northern Indiana in conjunction with the relationship’s placement on nonperforming status. Additional specific reserves of $4.7 million were allocated to this credit during the third quarter of 2024.

    The ratio of allowance for credit losses to total loans was 1.65% at September 30, 2024, up from 1.48% at September 30, 2023, and 1.60% at June 30, 2024. Net charge offs in the third quarter of 2024 were $143,000, compared to $353,000 in the third quarter of 2023 and $949,000 during the linked second quarter of 2024. Annualized net charge offs to average loans were 0.01% for the third quarter of 2024, compared to 0.03% for the third quarter of 2023 and 0.08% for the linked second quarter of 2024.

    Nonperforming assets increased $41.3 million, or 247%, to $58.1 million as of September 30, 2024, versus $16.7 million as of September 30, 2023. On a linked quarter basis, nonperforming assets increased $427,000, or 1%, compared to $57.6 million as of June 30, 2024. The ratio of nonperforming assets to total assets at September 30, 2024 increased to 0.87% from 0.26% at September 30, 2023 and declined from 0.88% at June 30, 2024. The increase in nonperforming assets was primarily driven by the industrial borrower relationship referenced above.

    Total individually analyzed and watch list loans increased by $81.2 million, or 44%, to $267.6 million as of September 30, 2024, versus $186.4 million as of September 30, 2023. On a linked quarter basis, total individually analyzed and watch list loans decreased by $687,000, or less than 1%, from $268.3 million at June 30, 2024. Watch list loans as a percentage of total loans increased by 144 basis points to 5.27% at September 30, 2024, compared to 3.83% at September 30, 2023, and decreased by 4 basis points from 5.31% at June 30, 2024. The increase in individually analyzed and watch list loans between September 30, 2024 and September 30, 2023 was primarily driven by downgrades to four commercial relationships individually greater than $10.0 million, net of paydowns, payoffs and upgrades to other relationships.

    “Overall, we continue to observe stable economic conditions in our Lake City Bank footprint. The commencement of the Federal Reserve Bank easing cycle will provide some interest relief to variable rate borrowers, in particular for commercial real estate clients. We believe that loan demand could accelerate for our commercial and industrial sector if the Federal Reserve Bank takes additional easing actions,” stated Findlay.

    Noninterest Income

    The company’s noninterest income increased $1.1 million, or 10%, to $11.9 million for the third quarter of 2024, compared to $10.8 million for the third quarter of 2023. Wealth advisory fees increased $420,000, or 18%, driven by growth in customers and favorable market performance. Other income increased $429,000, or 72%, primarily from an improvement to income from the company’s limited partnership investments. Adjusted core noninterest income, a non-GAAP financial measure that excludes the effects of certain non-routine operating events, was $11.9 million for the third quarter of 2024, an increase of $1.1 million, or 10%, compared to $10.8 million for the third quarter of 2023.

    Noninterest income for the third quarter of 2024 decreased by $8.5 million, or 42%, on a linked quarter basis from $20.4 million during the second quarter of 2024. Second quarter noninterest income benefited from the net gain recognized on the exchange and partial redemption of the company’s Visa shares of $9.0 million. The company’s remaining Visa Class C shares were redeemed during the third quarter of 2024 for a net loss of $15,000. Offsetting this linked quarter decrease was an increase to other income of $333,000, or 48%, and an increase to bank owned life insurance income of $178,000, or 20%. Adjusted core noninterest income increased by $504,000, or 4%, compared to $11.4 million for the linked second quarter of 2024.

    Noninterest income increased by $12.3 million, or 38%, to $45.0 million for the nine months ended September 30, 2024, compared to $32.7 million for the prior year nine-month period. The increase in noninterest income was driven primarily by the net gain on Visa shares of $9.0 million. Additionally, other income increased $2.0 million, or 105%, wealth advisory fees increased $1.0 million, or 15%, bank owned life insurance income increased $601,000, or 25%, and mortgage banking income increased $252,000. Other income increased primarily due to improved performance from limited partnership investment income and the receipt of a $1.0 million insurance recovery related to the 2023 wire fraud loss. Improved market performance of the company’s variable bank owned life insurance policies, which are tied to the performance of the equity markets, drove the increase to bank owned life insurance income. Mortgage banking income increased from pipeline expansion and a related positive impact to mortgage rate lock income. Offsetting these increases was a decrease to interest rate swap fee income of $794,000, or 100%, due to no new swap fee activity during the period. Adjusted core noninterest income for the nine months ended September 30, 2024 was $35.0 million, an increase of $2.3 million, or 7%, compared to $32.7 million for the nine months ended September 30, 2023.

    “While not robust, we are pleased to report that revenue growth for the nine months ended September 30, 2024, was $8.9 million, or 5% as compared to the same period in 2023. Noninterest income, and in particular, wealth advisory fees are positively impacting the improvement in revenue,” stated Findlay. “It is rewarding to see this important part of the business growing and positively impacting revenue growth at the bank.”

    Noninterest Expense

    Noninterest expense increased $1.3 million, or 4%, to $30.4 million for the third quarter of 2024, compared to $29.1 million during the third quarter of 2023. Driving the third quarter 2024 increase to noninterest expense were increases to salaries and benefits expense of $499,000, or 3%, data processing fees and supplies expense of $389,000, or 12%, and corporate and business development expense of $168,000, or 14%, as compared to the third quarter of 2023. Adjusted core noninterest expense, a non-GAAP financial measure that excludes the effects of certain non-routine operating events, was $30.4 million for the third quarter of 2024, an increase of $1.3 million, or 4%, compared to $29.1 million for the third quarter of 2023.

    On a linked quarter basis, noninterest expense decreased by $2.9 million, or 9%, from $33.3 million during the second quarter of 2024. Other expense decreased by $3.6 million, or 58%, primarily due to the recognition of a $4.5 million legal accrual in the second quarter 2024. Offsetting the decrease to noninterest expense was an increase in salaries and employee benefits of $318,000, or 2%. Adjusted core noninterest expense increased by $1.6 million, or 6%, compared to $28.8 million for the linked second quarter of 2024.

    Noninterest expense decreased by $6.8 million, or 7%, for the nine months ended September 30, 2024 to $94.4 million compared to $101.3 million for the nine months ended September 30, 2023. The $18.1 million wire fraud loss recorded during the second quarter of 2023 was the primary driver of the decrease between these periods. Offsetting this decrease were increases to salaries and employee benefits expense of $6.1 million, or 14%, other expense of $3.2 million, or 41%, data processing fees of $1.1 million, or 11%, and professional fees of $391,000, or 6%. The increase to salaries and benefits expense resulted primarily from increases to salaries and wages of $2.3 million, performance-based incentive compensation of $2.2 million, health insurance expense of $695,000 and variable deferred compensation related to the company’s variable bank owned life insurance of $536,000. The increase for data processing fees resulted from continued investment in customer-facing and operational technology solutions. Professional fees increased due to higher costs to implement technology solutions. Adjusted core noninterest expense was $89.9 million for the nine months ended September 30, 2024, an increase of $4.8 million, or 6%, from $85.1 million recorded during the comparable period of 2023.

    The company’s efficiency ratio was 49.7% for the third quarter of 2024, compared to 49.1% for the third quarter of 2023 and 48.5% for the linked second quarter of 2024. The company’s adjusted core efficiency ratio, a non-GAAP measure that excludes the impact of certain non-routine operating events, was 49.7% for the third quarter of 2024, compared to 48.2% for the linked second quarter of 2024 and 49.1% for the third quarter of 2023.

    The company’s efficiency ratio was 49.7% for the nine months ended September 30, 2024, compared to 55.9% for the comparable period in 2023. The company’s adjusted core efficiency ratio was 50.0% for the nine months ended September 30, 2024, compared to 47.0% for the comparable period in 2023.

    Information regarding Lakeland Financial Corporation may be accessed on the home page of its subsidiary, Lake City Bank, at lakecitybank.com. The company’s common stock is traded on the Nasdaq Global Select Market under “LKFN.” Lake City Bank, a $6.6 billion bank headquartered in Warsaw, Indiana, was founded in 1872 and serves Central and Northern Indiana communities with 54 branch offices and a robust digital banking platform. Lake City Bank’s community banking model prioritizes building in-market long-term customer relationships while delivering technology-forward solutions for retail and commercial clients.

    This document contains, and future oral and written statements of the company and its management may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance and business of the company. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the company’s management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “continue,” “plan,” “intend,” “estimate,” “may,” “will,” “would,” “could,” “should” or other similar expressions. The company’s ability to predict results or the actual effect of future plans or strategies is inherently uncertain and, accordingly, the reader is cautioned not to place undue reliance on any forward-looking statements made by the company. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and the company undertakes no obligation to update any statement in light of new information or future events. Numerous factors could cause the company’s actual results to differ from those reflected in forward-looking statements, including the effects of economic, business and market conditions and changes, particularly in our Indiana market area, including prevailing interest rates and the rate of inflation; governmental monetary and fiscal policies; the risks of changes in interest rates on the levels, composition and costs of deposits, loan demand and the values and liquidity of loan collateral, securities and other interest sensitive assets and liabilities; and changes in borrowers’ credit risks and payment behaviors, as well as those identified in the company’s filings with the Securities and Exchange Commission, including the company’s Annual Report on Form 10-K and quarterly reports on Form 10-Q.

     
    LAKELAND FINANCIAL CORPORATION
    THIRD QUARTER 2024 FINANCIAL HIGHLIGHTS
     
      Three Months Ended   Nine Months Ended
    (Unaudited – Dollars in thousands, except per share data) September 30,   June 30,   September 30,   September 30,   September 30,
    END OF PERIOD BALANCES 2024   2024   2023   2024   2023
    Assets $ 6,645,371     $ 6,568,807     $ 6,426,844     $ 6,645,371     $ 6,426,844  
    Investments   1,147,806       1,123,803       1,105,026       1,147,806       1,105,026  
    Loans   5,081,990       5,052,341       4,870,965       5,081,990       4,870,965  
    Allowance for Credit Losses   83,627       80,711       72,105       83,627       72,105  
    Deposits   5,837,313       5,763,537       5,657,075       5,837,313       5,657,075  
    Brokered Deposits   96,504       161,040       177,430       96,504       177,430  
    Core Deposits (1)   5,740,809       5,602,497       5,479,645       5,740,809       5,479,645  
    Total Equity   699,181       654,590       557,184       699,181       557,184  
    Goodwill Net of Deferred Tax Assets   3,803       3,803       3,803       3,803       3,803  
    Tangible Common Equity (2)   695,378       650,787       553,381       695,378       553,381  
    Adjusted Tangible Common Equity (2)   832,813       820,534       780,756       832,813       780,756  
    AVERAGE BALANCES                  
    Total Assets $ 6,656,464     $ 6,642,954     $ 6,498,984     $ 6,618,102     $ 6,448,316  
    Earning Assets   6,329,287       6,295,281       6,145,894       6,280,677       6,103,538  
    Investments   1,128,705       1,118,776       1,171,426       1,135,304       1,210,540  
    Loans   5,064,348       5,034,851       4,849,758       5,023,556       4,791,431  
    Total Deposits   5,880,177       5,819,962       5,572,466       5,777,234       5,537,379  
    Interest Bearing Deposits   4,635,993       4,589,059       4,154,825       4,527,524       4,028,087  
    Interest Bearing Liabilities   4,649,745       4,666,136       4,382,380       4,616,129       4,246,648  
    Total Equity   670,160       638,999       592,510       651,457       594,063  
    INCOME STATEMENT DATA                  
    Net Interest Income $ 49,273     $ 48,296     $ 48,393     $ 144,985     $ 148,436  
    Net Interest Income-Fully Tax Equivalent   50,383       49,493       49,712       148,558       152,436  
    Provision for Credit Losses   3,059       8,480       400       13,059       5,550  
    Noninterest Income   11,917       20,439       10,835       44,968       32,650  
    Noninterest Expense   30,393       33,333       29,097       94,431       101,265  
    Net Income   23,338       22,549       25,252       69,288       64,141  
    Pretax Pre-Provision Earnings (2)   30,797       35,402       30,131       95,522       79,821  
    PER SHARE DATA                  
    Basic Net Income Per Common Share $ 0.91     $ 0.88     $ 0.99     $ 2.70     $ 2.51  
    Diluted Net Income Per Common Share   0.91       0.87       0.98       2.69       2.49  
    Cash Dividends Declared Per Common Share   0.48       0.48       0.46       1.44       1.38  
    Dividend Payout   52.75 %     55.17 %     46.94 %     53.53 %     36.95 %
    Book Value Per Common Share (equity per share issued) $ 27.22     $ 25.49     $ 21.75     $ 27.22     $ 21.75  
    Tangible Book Value Per Common Share (2)   27.07       25.34       21.60       27.07       21.60  
    Market Value – High $ 72.25     $ 66.62     $ 57.00     $ 73.22     $ 77.07  
    Market Value – Low   57.45       57.59       44.46       57.45       43.05  
                                           
                                           
      Three Months Ended   Nine Months Ended
    (Unaudited – Dollars in thousands, except per share data) September 30,   June 30,   September 30,   September 30,   September 30,
    PER SHARE DATA (continued) 2024   2024   2023   2024   2023
    Basic Weighted Average Common Shares Outstanding   25,684,407       25,678,231       25,613,456       25,673,275       25,601,493  
    Diluted Weighted Average Common Shares Outstanding   25,767,739       25,742,871       25,693,535       25,754,357       25,709,841  
    KEY RATIOS                  
    Return on Average Assets   1.39 %     1.37 %     1.54 %     1.40 %     1.33 %
    Return on Average Total Equity   13.85       14.19       16.91       14.21       14.44  
    Average Equity to Average Assets   10.07       9.62       9.12       9.84       9.21  
    Net Interest Margin   3.16       3.17       3.21       3.16       3.33  
    Efficiency (Noninterest Expense/Net Interest Income plus Noninterest Income)   49.67       48.49       49.13       49.71       55.92  
    Loans to Deposits   87.06       87.66       86.10       87.06       86.10  
    Investment Securities to Total Assets   17.27       17.11       17.19       17.27       17.19  
    Tier 1 Leverage (3)   12.18       11.98       11.64       12.18       11.64  
    Tier 1 Risk-Based Capital (3)   14.50       14.28       13.88       14.50       13.88  
    Common Equity Tier 1 (CET1) (3)   14.50       14.28       13.88       14.50       13.88  
    Total Capital (3)   15.75       15.53       15.13       15.75       15.13  
    Tangible Capital (2)   10.47       9.91       8.62       10.47       8.62  
    Adjusted Tangible Capital (2)   12.29       12.18       11.74       12.29       11.74  
    ASSET QUALITY                  
    Loans Past Due 30 – 89 Days $ 829     $ 1,615     $ 1,782     $ 829     $ 1,782  
    Loans Past Due 90 Days or More   95       26       19       95       19  
    Nonaccrual Loans   57,551       57,124       16,290       57,551       16,290  
    Nonperforming Loans   57,646       57,150       16,309       57,646       16,309  
    Other Real Estate Owned   384       384       384       384       384  
    Other Nonperforming Assets   21       90       45       21       45  
    Total Nonperforming Assets   58,051       57,624       16,738       58,051       16,738  
    Individually Analyzed Loans   77,654       78,533       16,739       77,654       16,739  
    Non-Individually Analyzed Watch List Loans   189,918       189,726       169,621       189,918       169,621  
    Total Individually Analyzed and Watch List Loans   267,572       268,259       186,360       267,572       186,360  
    Gross Charge Offs   231       1,076       480       1,811       6,766  
    Recoveries   88       127       127       407       715  
    Net Charge Offs/(Recoveries)   143       949       353       1,404       6,051  
    Net Charge Offs/(Recoveries) to Average Loans   0.01 %     0.08 %     0.03 %     0.04 %     0.17 %
    Credit Loss Reserve to Loans   1.65       1.60       1.48       1.65       1.48  
    Credit Loss Reserve to Nonperforming Loans   145.07       141.23       442.11       145.07       442.11  
    Nonperforming Loans to Loans   1.13       1.13       0.33       1.13       0.33  
    Nonperforming Assets to Assets   0.87       0.88       0.26       0.87       0.26  
    Total Individually Analyzed and Watch List Loans to Total Loans   5.27 %     5.31 %     3.83 %     5.27 %     3.83 %
                       
                       
      Three Months Ended   Nine Months Ended
    (Unaudited – Dollars in thousands, except per share data) September 30,   June 30,   September 30,   September 30,   September 30,
    PER SHARE DATA (continued) 2024   2024   2023   2024   2023
    OTHER DATA                  
    Full Time Equivalent Employees   639       653       614       639       614  
    Offices   54       53       53       54       53  

    ___________________
    (1)  Core deposits equals deposits less brokered deposits.
    (2)  Non-GAAP financial measure – see “Reconciliation of Non-GAAP Financial Measures”.
    (3)  Capital ratios for September 30, 2024 are preliminary until the Call Report is filed.

           
    CONSOLIDATED BALANCE SHEETS (in thousands, except share data)      
    September 30,
    2024
      December 31,
    2023
    (Unaudited)  
    ASSETS      
    Cash and due from banks $ 86,785     $ 70,451  
    Short-term investments   73,405       81,373  
    Total cash and cash equivalents   160,190       151,824  
         
    Securities available-for-sale, at fair value   1,016,649       1,051,728  
    Securities held-to-maturity, at amortized cost (fair value of $118,861 and $119,215, respectively)   131,157       129,918  
    Real estate mortgage loans held-for-sale   3,148       1,158  
         
    Loans, net of allowance for credit losses of $83,627 and $71,972   4,998,363       4,844,562  
         
    Land, premises and equipment, net   59,987       57,899  
    Bank owned life insurance   112,075       109,114  
    Federal Reserve and Federal Home Loan Bank stock   21,420       21,420  
    Accrued interest receivable   28,471       30,011  
    Goodwill   4,970       4,970  
    Other assets   108,941       121,425  
    Total assets $ 6,645,371     $ 6,524,029  
         
         
    LIABILITIES      
    Noninterest bearing deposits $ 1,284,527     $ 1,353,477  
    Interest bearing deposits   4,552,786       4,367,048  
    Total deposits   5,837,313       5,720,525  
           
    Federal Funds purchased   30,000       0  
    Federal Home Loan Bank advances   0       50,000  
    Total borrowings   30,000       50,000  
           
    Accrued interest payable   14,784       20,893  
    Other liabilities   64,093       82,818  
    Total liabilities   5,946,190       5,874,236  
         
    STOCKHOLDERS’ EQUITY      
    Common stock: 90,000,000 shares authorized, no par value      
    25,974,017 shares issued and 25,506,084 outstanding as of September 30, 2024      
    25,903,686 shares issued and 25,430,566 outstanding as of December 31, 2023   128,346       127,692  
    Retained earnings   724,550       692,760  
    Accumulated other comprehensive income (loss)   (138,136 )     (155,195 )
    Treasury stock, at cost (467,933 shares and 473,120 shares as of September 30, 2024 and December 31, 2023, respectively)   (15,668 )     (15,553 )
    Total stockholders’ equity   699,092       649,704  
    Noncontrolling interest   89       89  
    Total equity   699,181       649,793  
    Total liabilities and equity $ 6,645,371     $ 6,524,029  
     
    CONSOLIDATED STATEMENTS OF INCOME (unaudited – in thousands, except share and per share data)
     
    Three Months Ended September 30,   Nine Months Ended September 30,
      2024       2023       2024       2023  
    NET INTEREST INCOME              
    Interest and fees on loans              
    Taxable $ 86,118     $ 78,910     $ 252,386     $ 223,499  
    Tax exempt   298       1,008       1,830       2,869  
    Interest and dividends on securities              
    Taxable   2,908       3,077       9,051       9,966  
    Tax exempt   3,921       4,023       11,800       12,387  
    Other interest income   1,773       1,605       4,721       3,604  
    Total interest income   95,018       88,623       279,788       252,325  
         
    Interest on deposits   45,556       37,108       131,083       95,637  
    Interest on short-term borrowings   189       3,122       3,720       8,252  
    Total interest expense   45,745       40,230       134,803       103,889  
         
    NET INTEREST INCOME   49,273       48,393       144,985       148,436  
         
    Provision for credit losses   3,059       400       13,059       5,550  
         
    NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES   46,214       47,993       131,926       142,886  
         
    NONINTEREST INCOME              
    Wealth advisory fees   2,718       2,298       7,770       6,769  
    Investment brokerage fees   438       408       1,438       1,370  
    Service charges on deposit accounts   2,835       2,735       8,332       8,091  
    Loan and service fees   2,955       2,934       8,855       8,782  
    Merchant and interchange fee income   898       938       2,653       2,744  
    Bank owned life insurance income   1,068       1,009       2,994       2,393  
    Interest rate swap fee income   0       0       0       794  
    Mortgage banking income (loss)   (7 )     (50 )     68       (184 )
    Net securities gains (losses)   0       (35 )     (46 )     (16 )
    Net gain (loss) on Visa shares   (15 )     0       8,996       0  
    Other income   1,027       598       3,908       1,907  
    Total noninterest income   11,917       10,835       44,968       32,650  
         
    NONINTEREST EXPENSE              
    Salaries and employee benefits   16,476       15,977       49,467       43,414  
    Net occupancy expense   1,721       1,621       5,159       4,874  
    Equipment costs   1,452       1,325       4,207       4,189  
    Data processing fees and supplies   3,768       3,379       11,419       10,305  
    Corporate and business development   1,369       1,201       4,015       3,930  
    FDIC insurance and other regulatory fees   966       871       2,571       2,469  
    Professional fees   2,089       2,114       6,675       6,284  
    Wire fraud loss   0       0       0       18,058  
    Other expense   2,552       2,609       10,918       7,742  
    Total noninterest expense   30,393       29,097       94,431       101,265  
         
    INCOME BEFORE INCOME TAX EXPENSE   27,738       29,731       82,463       74,271  
    Income tax expense   4,400       4,479       13,175       10,130  
    NET INCOME $ 23,338     $ 25,252     $ 69,288     $ 64,141  
         
    BASIC WEIGHTED AVERAGE COMMON SHARES   25,684,407       25,613,456       25,673,275       25,601,493  
         
    BASIC EARNINGS PER COMMON SHARE $ 0.91     $ 0.99     $ 2.70     $ 2.51  
                 
    DILUTED WEIGHTED AVERAGE COMMON SHARES   25,767,739       25,693,535       25,754,357       25,709,841  
                 
    DILUTED EARNINGS PER COMMON SHARE $ 0.91     $ 0.98     $ 2.69     $ 2.49  
     
    LAKELAND FINANCIAL CORPORATION
    LOAN DETAIL
    (unaudited, in thousands)
     
      September 30,
    2024
      June 30,
    2024
      September 30,
    2023
    Commercial and industrial loans:                      
    Working capital lines of credit loans $ 678,079     13.3 %   $ 697,754     13.8 %   $ 589,345     12.1 %
    Non-working capital loans   814,804     16.0       828,523     16.4       812,875     16.7  
    Total commercial and industrial loans   1,492,883     29.3       1,526,277     30.2       1,402,220     28.8  
                         
    Commercial real estate and multi-family residential loans:                      
    Construction and land development loans   729,293     14.3       658,345     13.0       633,920     13.0  
    Owner occupied loans   810,453     15.9       830,018     16.4       811,175     16.6  
    Nonowner occupied loans   766,821     15.1       762,365     15.1       740,783     15.2  
    Multifamily loans   243,283     4.8       252,652     5.0       236,581     4.8  
    Total commercial real estate and multi-family residential loans   2,549,850     50.1       2,503,380     49.5       2,422,459     49.6  
                         
    Agri-business and agricultural loans:                      
    Loans secured by farmland   157,413     3.1       161,410     3.2       183,241     3.8  
    Loans for agricultural production   200,971     4.0       199,654     4.0       197,287     4.0  
    Total agri-business and agricultural loans   358,384     7.1       361,064     7.2       380,528     7.8  
                         
    Other commercial loans   94,309     1.9       96,703     1.9       125,939     2.6  
    Total commercial loans   4,495,426     88.4       4,487,424     88.8       4,331,146     88.8  
                         
    Consumer 1-4 family mortgage loans:                      
    Closed end first mortgage loans   261,462     5.1       259,094     5.1       247,114     5.1  
    Open end and junior lien loans   210,275     4.1       197,861     3.9       189,611     3.9  
    Residential construction and land development loans   14,200     0.3       12,952     0.3       12,888     0.3  
    Total consumer 1-4 family mortgage loans   485,937     9.5       469,907     9.3       449,613     9.3  
                       
    Other consumer loans   103,547     2.1       97,895     1.9       93,737     1.9  
    Total consumer loans   589,484     11.6       567,802     11.2       543,350     11.2  
    Subtotal   5,084,910     100.0 %     5,055,226     100.0 %     4,874,496     100.0 %
    Less:  Allowance for credit losses   (83,627 )         (80,711 )       (72,105 )  
        Net deferred loan fees   (2,920 )         (2,885 )       (3,531 )  
    Loans, net $ 4,998,363         $ 4,971,630       $ 4,798,860    
     
    LAKELAND FINANCIAL CORPORATION
    DEPOSITS AND BORROWINGS
    (unaudited, in thousands)
     
      September 30,
    2024
      June 30,
    2024
      September 30,
    2023
    Noninterest bearing demand deposits $ 1,284,527   $ 1,212,989   $ 1,377,650
    Savings and transaction accounts:          
    Savings deposits   276,468     283,809     315,651
    Interest bearing demand deposits   3,273,405     3,274,179     2,891,683
    Time deposits:          
    Deposits of $100,000 or more   787,095     776,314     756,107
    Other time deposits   215,818     216,246     315,984
    Total deposits $ 5,837,313   $ 5,763,537   $ 5,657,075
    FHLB advances and other borrowings   30,000     55,000     90,000
    Total funding sources $ 5,867,313   $ 5,818,537   $ 5,747,075
     
    LAKELAND FINANCIAL CORPORATION
    AVERAGE BALANCE SHEET AND NET INTEREST ANALYSIS
    (UNAUDITED)
     
        Three Months Ended September 30, 2024   Three Months Ended June 30, 2024   Three Months Ended September 30, 2023
    (fully tax equivalent basis, dollars in thousands)   Average
    Balance
      Interest
    Income
      Yield (1)/
    Rate
      Average
    Balance
      Interest
    Income
      Yield (1)/
    Rate
      Average
    Balance
      Interest
    Income
      Yield (1)/
    Rate
    Earning Assets                                    
    Loans:                                    
    Taxable (2)(3)   $ 5,037,855     $ 86,118   6.80 %   $ 4,993,270     $ 84,226   6.78 %   $ 4,791,156     $ 78,910   6.53 %
    Tax exempt (1)     26,493       366   5.50       41,581       783   7.57       58,602       1,258   8.52  
    Investments: (1)                                    
    Securities     1,128,705       7,871   2.77       1,118,776       8,082   2.91       1,171,426       8,169   2.77  
    Short-term investments     2,841       35   4.90       2,836       35   4.96       2,533       29   4.54  
    Interest bearing deposits     133,393       1,738   5.18       138,818       1,807   5.24       122,177       1,576   5.12  
    Total earning assets   $ 6,329,287     $ 96,128   6.04 %   $ 6,295,281     $ 94,933   6.07 %   $ 6,145,894     $ 89,942   5.81 %
    Less:  Allowance for credit losses     (81,353 )             (74,166 )             (71,997 )        
    Nonearning Assets                                    
    Cash and due from banks     63,744               64,518               68,669          
    Premises and equipment     59,493               58,702               58,782          
    Other nonearning assets     285,293               298,619               297,636          
    Total assets   $ 6,656,464             $ 6,642,954             $ 6,498,984          
                                         
    Interest Bearing Liabilities                                    
    Savings deposits   $ 280,180     $ 45   0.06 %   $ 289,107     $ 48   0.07 %   $ 329,557     $ 57   0.07 %
    Interest bearing checking accounts     3,295,911       33,822   4.08       3,275,502       33,323   4.09       2,873,795       27,891   3.85  
    Time deposits:                                    
    In denominations under $100,000     215,020       1,914   3.54       217,146       1,871   3.47       211,039       1,507   2.83  
    In denominations over $100,000     844,882       9,775   4.60       807,304       9,121   4.54       740,434       7,654   4.10  
    Miscellaneous short-term borrowings     13,752       189   5.48       77,077       1,077   5.62       227,555       3,121   5.44  
    Total interest bearing liabilities   $ 4,649,745     $ 45,745   3.91 %   $ 4,666,136     $ 45,440   3.92 %   $ 4,382,380     $ 40,230   3.64 %
    Noninterest Bearing Liabilities                                    
    Demand deposits     1,244,184               1,230,903               1,417,641          
    Other liabilities     92,375               106,916               106,453          
    Stockholders’ Equity     670,160               638,999               592,510          
    Total liabilities and stockholders’ equity   $ 6,656,464             $ 6,642,954             $ 6,498,984          
    Interest Margin Recap                                    
    Interest income/average earning assets         96,128   6.04 %         94,933   6.07 %         89,942   5.81 %
    Interest expense/average earning assets         45,745   2.88           45,440   2.90           40,230   2.60  
    Net interest income and margin       $ 50,383   3.16 %       $ 49,493   3.17 %       $ 49,712   3.21 %
                                                     

    (1)  Tax exempt income was converted to a fully taxable equivalent basis at a 21 percent tax rate. The tax equivalent rate for tax exempt loans and tax exempt securities acquired after January 1, 1983, included the Tax Equity and Fiscal Responsibility Act of 1982 (“TEFRA”) adjustment applicable to nondeductible interest expenses. Taxable equivalent basis adjustments were $1.11 million, $1.20 million and $1.32 million in the three-month periods ended September 30, 2024, June 30, 2024, and September 30, 2023, respectively.
    (2)  Loan fees, which are immaterial in relation to total taxable loan interest income for the three months ended September 30, 2024, June 30, 2024, and September 30, 2023, are included as taxable loan interest income.
    (3)  Nonaccrual loans are included in the average balance of taxable loans.

    Reconciliation of Non-GAAP Financial Measures

    Tangible common equity, adjusted tangible common equity, tangible assets, adjusted tangible assets, tangible book value per common share, tangible common equity to tangible assets, adjusted tangible common equity to adjusted tangible assets, and pretax pre-provision earnings are non-GAAP financial measures calculated based on GAAP amounts. Tangible common equity is calculated by excluding the balance of goodwill and other intangible assets from the calculation of equity, net of deferred tax. Tangible assets are calculated by excluding the balance of goodwill and other intangible assets from the calculation of total assets, net of deferred tax. Adjusted tangible assets and adjusted tangible common equity remove the fair market value adjustment impact of the available-for-sale investment securities portfolio in accumulated other comprehensive income (loss) (“AOCI”). Tangible book value per common share is calculated by dividing tangible common equity by the number of shares outstanding less true treasury stock. Pretax pre-provision earnings is calculated by adding net interest income to noninterest income and subtracting noninterest expense. Because not all companies use the same calculation of tangible common equity and tangible assets, this presentation may not be comparable to other similarly titled measures calculated by other companies. However, management considers these measures of the company’s value meaningful to understanding of the company’s financial information and performance.

    A reconciliation of these non-GAAP financial measures is provided below (dollars in thousands, except per share data).

      Three Months Ended   Nine Months Ended
      Sep. 30, 2024   Jun. 30, 2024   Sep. 30, 2023   Sep. 30, 2024   Sep. 30, 2023
    Total Equity $ 699,181     $ 654,590     $ 557,184     $ 699,181     $ 557,184  
    Less: Goodwill   (4,970 )     (4,970 )     (4,970 )     (4,970 )     (4,970 )
    Plus: DTA Related to Goodwill   1,167       1,167       1,167       1,167       1,167  
    Tangible Common Equity   695,378       650,787       553,381       695,378       553,381  
    Market Value Adjustment in AOCI   137,435       169,747       227,375       137,435       227,375  
    Adjusted Tangible Common Equity   832,813       820,534       780,756       832,813       780,756  
                       
    Assets $ 6,645,371     $ 6,568,807     $ 6,426,844     $ 6,645,371     $ 6,426,844  
    Less: Goodwill   (4,970 )     (4,970 )     (4,970 )     (4,970 )     (4,970 )
    Plus: DTA Related to Goodwill   1,167       1,167       1,167       1,167       1,167  
    Tangible Assets   6,641,568       6,565,004       6,423,041       6,641,568       6,423,041  
    Market Value Adjustment in AOCI   137,435       169,747       227,375       137,435       227,375  
    Adjusted Tangible Assets   6,779,003       6,734,751       6,650,416       6,779,003       6,650,416  
                       
    Ending Common Shares Issued   25,684,916       25,679,066       25,614,163       25,684,916       25,614,163  
                       
    Tangible Book Value Per Common Share $ 27.07     $ 25.34     $ 21.60     $ 27.07     $ 21.60  
                       
    Tangible Common Equity/Tangible Assets   10.47 %     9.91 %     8.62 %     10.47 %     8.62 %
    Adjusted Tangible Common Equity/Adjusted Tangible Assets   12.29 %     12.18 %     11.74 %     12.29 %     11.74 %
                       
    Net Interest Income $ 49,273     $ 48,296     $ 48,393     $ 144,985     $ 148,436  
    Plus:  Noninterest Income   11,917       20,439       10,835       44,968       32,650  
    Minus:  Noninterest Expense   (30,393 )     (33,333 )     (29,097 )     (94,431 )     (101,265 )
                       
    Pretax Pre-Provision Earnings $ 30,797     $ 35,402     $ 30,131     $ 95,522     $ 79,821  
                                           

    Adjusted core noninterest income, adjusted core noninterest expense, adjusted earnings before income taxes, core operational profitability, core operational diluted earnings per common share and adjusted core efficiency ratio are non-GAAP financial measures calculated based on GAAP amounts. These adjusted amounts are calculated by excluding the impact of the net gain on Visa shares, legal accrual, and wire fraud loss and associated insurance and loss recoveries and adjustments to salaries and employee benefits expense for the periods presented below. Management considers these measures of financial performance to be meaningful to understanding the company’s core business performance for these periods.

    A reconciliation of these non-GAAP financial measures is provided below (dollars in thousands, except per share data).

      Three Months Ended   Nine Months Ended
      Sep. 30, 2024   Jun. 30, 2024   Sep. 30, 2023   Sep. 30, 2024   Sep. 30, 2023
    Noninterest Income $ 11,917     $ 20,439     $ 10,835     $ 44,968     $ 32,650  
    Less: Net (Gain) Loss on Visa Shares   15       (9,011 )     0       (8,996 )     0  
    Less: Insurance Recoveries   0       0       0       (1,000 )     0  
    Adjusted Core Noninterest Income $ 11,932     $ 11,428     $ 10,835     $ 34,972     $ 32,650  
                       
    Noninterest Expense $ 30,393     $ 33,333     $ 29,097     $ 94,431     $ 101,265  
    Less: Legal Accrual   0       (4,537 )     0       (4,537 )     0  
    Less: Wire Fraud Loss   0       0       0       0       (18,058 )
    Plus: Salaries and Employee Benefits (1)   0       0       0       0       1,850  
    Adjusted Core Noninterest Expense $ 30,393     $ 28,796     $ 29,097     $ 89,894     $ 85,057  
                       
    Earnings Before Income Taxes $ 27,738     $ 26,922     $ 29,731     $ 82,463     $ 74,271  
    Adjusted Core Impact:                  
    Noninterest Income   15       (9,011 )     0       (9,996 )     0  
    Noninterest Expense   0       4,537       0       4,537       16,208  
    Total Adjusted Core Impact   15       (4,474 )     0       (5,459 )     16,208  
    Adjusted Earnings Before Income Taxes   27,753       22,448       29,731       77,004       90,479  
    Tax Effect   (4,404 )     (3,261 )     (4,479 )     (11,817 )     (14,123 )
    Core Operational Profitability (2) $ 23,349     $ 19,187     $ 25,252     $ 65,187     $ 76,356  
                       
    Diluted Earnings Per Common Share $ 0.91     $ 0.87     $ 0.98     $ 2.69     $ 2.49  
    Impact of Adjusted Core Items   0.00       (0.13 )     0.00       (0.16 )     0.48  
    Core Operational Diluted Earnings Per Common Share $ 0.91     $ 0.74     $ 0.98     $ 2.53     $ 2.97  
                       
    Adjusted Core Efficiency Ratio   49.66 %     48.22 %     49.13 %     49.95 %     46.97 %
                                           

    (1)  In 2023, long-term, incentive-based compensation accruals were reduced as a result of the wire fraud loss and associated insurance and loss recoveries.
    (2)  Core operational profitability was $11,000 higher and $3.4 million lower than reported net income for the three months ended September 30, 2024 and June 30, 2024, respectively. Core operational profitability was $4.1 million lower and $12.2 million higher than reported net income for the nine months ended September 30, 2024 and 2023, respectively.

    Contact
    Lisa M. O’Neill
    Executive Vice President and Chief Financial Officer
    (574) 267-9125
    lisa.oneill@lakecitybank.com

    The MIL Network

  • MIL-OSI Europe: Debates – Thursday, 24 October 2024 – Strasbourg – Provisional edition

    Source: European Parliament 2

    Verbatim report of proceedings
     352k  770k
    Thursday, 24 October 2024 – Strasbourg Provisional edition
    1. Opening of the sitting
      2. Composition of committees and delegations
      3. Closing the EU skills gap: supporting people in the digital and green transitions to ensure inclusive growth and competitiveness in line with the Draghi report (debate)
      4. Abuse of new technologies to manipulate and radicalise young people through hate speech and antidemocratic discourse (debate)
      5. Resumption of the sitting
      6. Sakharov Prize 2024 (announcement of the winner)
      7. Request for waiver of immunity
      8. Resumption of the sitting
      9. Voting time
        9.1. Situation in Azerbaijan, violation of human rights and international law and relations with Armenia (RC-B10-0133/2024, B10-0129/2024, B10-0131/2024, B10-0133/2024, B10-0136/2024, B10-0139/2024, B10-0141/2024, B10-0142/2024) (vote)
        9.2. People’s Republic of China’s misinterpretation of the UN resolution 2758 and its continuous military provocations around Taiwan (RC-B10-0134/2024, B10-0130/2024, B10-0132/2024, B10-0134/2024, B10-0135/2024, B10-0137/2024, B10-0138/2024, B10-0140/2024) (vote)
      10. Resumption of the sitting
      11. Approval of the minutes of the previous sitting
      12. Protecting our oceans: persistent threats to marine protected areas in the EU and benefits for coastal communities (debate)
      13. Explications de vote
        13.1. Situation in Azerbaijan, violation of human rights and international law and relations with Armenia (RC-B10-0133/2024)
        13.2. People’s Republic of China’s misinterpretation of the UN resolution 2758 and its continuous military provocations around Taiwan (RC-B10-0134/2024)
      14. Approval of the minutes of the sitting and forwarding of texts adopted
      15. Dates of forthcoming sittings
      16. Closure of the sitting
      17. Adjournment of the session

       

    IN THE CHAIR: ESTEBAN GONZÁLEZ PONS
    Vice-President

     
    1. Opening of the sitting

       

    (The sitting opened at 9:00)

     

    2. Composition of committees and delegations

     

      President. – The EPP Group has notified the President of decisions relating to changes to appointments within committees and delegations.

    These decisions will be set out in the minutes of today’s sitting and take effect on the date of this announcement.

     

    3. Closing the EU skills gap: supporting people in the digital and green transitions to ensure inclusive growth and competitiveness in line with the Draghi report (debate)


     

      Janusz Wojciechowski, Member of the Commission. – Mr President, skills cut across all policies and this House has played an important role in putting skills high on the agenda, notably with the European Year of Skills, which was a huge success.

    Mario Draghi’s report shows that we must close the skills gap if we want to make Europe simultaneously competitive, fair and secure. This means stepping up investments in skills and education and training at different places and moments, from school to adult learning. These investments need to be public and private. At the European Union level, we are investing already, as of today, around EUR 44 billion in the EU Cohesion Policy, mostly from the European Social Fund Plus, and helping upskill and reskill 38 million people.

    Member States’ national recovery and resilience plans include reforms and investments in education, training and adult learning amounting to more than EUR 85 billion. The Just Transition Mechanism supports the most affected people, workers, companies and regions heavily dependent on carbon-intensive industries, notably by helping them with training to access new jobs in their region. Other programmes such as Erasmus+ and Digital Europe also contribute to skills development in their respective areas.

    But indeed, we have a skills gap in our labour markets. In many sectors, we don’t have enough people with the skills needed and this is the key ingredient missing if we want Europe to be competitive in the face of countries like the US and China. We face significant labour shortages. The European Union labour markets are losing one million people every year between now and 2050 because of ageing. Two thirds of European companies say that the lack of skills holds back their business activities and four out of five say they cannot invest and grow as much as they could. For SMEs, it is even more difficult: only one in five can find workers with the right skills.

    To address this, we adopted the action plan on labour and skills shortages. It is based on a broad consensus between Member States and social partners. The action plan builds notably on the European Skills Agenda, which is specifically aimed at harnessing the green and digital technology transitions. The European Year of Skills, with its 2000 events, showed that we were on the right track and we should use its momentum.

    There have been good results. The Pact for Skills has brought together businesses, unions, education and training providers and other stakeholders in a large partnership, joining forces to upskill workers. In the first years, about 3.5 million workers have been upskilled through action by the 3000 pact members. Individual learning accounts, a powerful tool that offers adults incentives and guidance to train over time, are being prepared in about half of all Member States. We expect them to be very helpful, in particular for workers in SMEs, which may not be able to have their own upskilling programmes.

    We launched the EU digital decade strategy to make sure Europe’s workforce is ready for a world where digital skills are increasingly essential in many areas of life. The digital education action plan supported the adaptation of the education and training systems of Member States, aiming to boost the provision of digital skills. The European Union has introduced specific measures for learning, for sustainability, integrating green skills and competencies into education and training systems across the Member States.

    But there is a lot of work still to do. Too many people don’t have good basic skills. We are far from our 80 % target of digital skills and 60 % target of adults in training.

    Last but not least, as is also stressed in the Draghi report, we need to significantly step up the anticipation of skills needs, which is also key for addressing labour shortages in future. We can build on the good analytical work by Cedefop and Eurostat on job vacancies and on the European network graduate tracking to bring analysis closer to the local needs. Another initiative under development on skills intelligence is the common European data space for skills, which will facilitate secure data pooling and sharing to foster the development of data-driven application for skills, demand and supply analysis.

     
       

     

      Liesbet Sommen, namens de PPE-Fractie. – Voorzitter, commissaris, de groene transitie en artificiële intelligentie: dat maakt onze mensen en bedrijven soms bezorgd. Dat is ook begrijpelijk. Het is aan ons, het beleid, om duidelijkheid en zekerheid te bieden. Want wij staan als Europese Unie op een kruispunt. Wij hebben terecht de meest ambitieuze klimaatwetgeving ter wereld, maar onze economie hinkt achterop omdat wij te weinig ruimte bieden aan technologische vooruitgang. Werknemers en landbouwers zijn daardoor soms bang om hun baan en toekomst te verliezen.

    Maar het goede nieuws is: wij zijn in staat om deze transities om te buigen naar kansen. Dat gaan we doen door in te zetten op grotere vaardigheden van onze mensen, via onderwijs en opleiding. Want menselijk kapitaal is wat onze Europese bedrijven sterk maakt. Laat ons trots zijn op ons Europese sociale model. De VS en China hebben slechts een volgende rol. We hebben echt behoefte aan een allesomvattende Europese financieringsstrategie voor onderwijs en opleiding. De focus moet liggen op STEM‑sectoren, wiskunde en wetenschap. Want het zijn die opleidingen die de beroepen naar de arbeidsmarkt brengen die onze bedrijven en onze landbouw in staat zullen stellen om te verduurzamen en te digitaliseren.

    Met sterker onderwijs en opleiding voor ons Europeanen gaan we er niet alleen in slagen om het klimaat en onze Europese economie te redden, maar ook om onze mensen te versterken. En inderdaad, dat zal ervoor gaan zorgen dat Europa haar leiderschapspositie van weleer opnieuw kan innemen. Europa staat op een kruispunt. Het is aan ons om de juiste weg in te slaan.

     
       

     

      Gabriele Bischoff, im Namen der S&D-Fraktion. – Herr Präsident, sehr geehrter Herr Kommissar, Kolleginnen und Kollegen! In der Tat, diese Transformation wird gelingen, wenn wir die Beschäftigten hier mitnehmen. Und der Draghi-Bericht stellt tatsächlich die Notwendigkeit von Fort- und Weiterbildung mit ins Zentrum, nicht nur für Wettbewerbsfähigkeit, sondern auch für Innovationsfähigkeit. Und es ist gut, dass das auf der Säule sozialer Rechte aufbaut, denn die garantiert zum ersten Mal ein Recht auf Weiterbildung – das müssen wir verankern, das ist ein Job für die nächste Kommission.

    Ich bin froh, dass der Kommissar die Rolle der Sozialpartner hervorgehoben hat, weil die essenziell ist: dass beide Seiten, dass Arbeitgeber wie Gewerkschaften, wie Betriebsräte zusammen in den Betrieben Konzepte entwickeln. Und ich bin froh auch – ich komme gerade von einer Debatte, wo es um ESF-Plus-Projekte ging, wo beide Sozialpartner in Deutschland, Arbeitgeber und Gewerkschaften, ein Programm zur Beratung und Qualifizierung hingekriegt haben.

    Deshalb bitte keine verkürzte skills-Debatte, sondern sehen, wir brauchen eine gute Grundqualifizierung und Akteure in den Betrieben, die das vorantreiben.

     
       

     

      Paolo Borchia, a nome del gruppo PfE. – Signor Presidente, onorevoli colleghi, signor Commissario, io non amo particolarmente essere pessimista. Però credo che, effettivamente, per colmare il ritardo con la Cina e con gli Stati Uniti ci servirà un mezzo miracolo, perché non possiamo pensare che l’unica parola d’ordine sia decarbonizzazione.

    Infatti, senza la competitività non andiamo da nessuna parte. Sul tema della mancanza dei lavoratori, Commissario, lei giustamente ha menzionato la mancanza di competenza e io credo che la mancanza di lavoratori qualificati sia purtroppo la chiave di volta. Anche perché, purtroppo, anche in quest’Aula c’è chi pensa che il problema si possa risolvere attraverso l’importazione di un esercito di manodopera di lavoratori a basso costo, che magari arrivano da Paesi lontani.

    E poi, in conclusione, c’è un grosso tema di autocritica, perché gli stessi che ci hanno portati ad essere fanalini di coda nell’economia globale, adesso sono quelli che pretendono di continuare a comandare, senza ascoltare quello che è il volere degli elettori.

     
       

     

      Mariateresa Vivaldini, a nome del gruppo ECR. – Signor Presidente, onorevoli colleghi, signor Commissario, formare, attrarre e trattenere i talenti sono propositi che in quest’Aula condividiamo tutti. Ma la sfida sui talenti non può essere scollegata dalle sfide sulla natalità. Dobbiamo incentivare le nascite con interventi strutturali, accompagnando i figli dalla nascita al mercato del lavoro.

    Diversi studi hanno previsto che all’Europa, nel suo insieme, mancheranno 35 milioni di persone in età lavorativa entro il 2050, soprattutto nelle zone rurali, accrescendo un divario che di per sé è già allarmante con le zone urbane. Significa che scienziati, medici, ingegneri, lavoratori specializzati che avrebbero potuto contribuire a cambiare il nostro futuro, non avranno mai questa opportunità.

    È ovvio – e lo rivendico con forza – che garantire una maggiore fruibilità delle competenze e degli spazi digitali è fondamentale. Però, mentre noi portiamo avanti questa riflessione, da un lato, c’è il Consiglio che ha proposto un taglio di quasi 300 milioni ad Erasmus, dall’altro, si continua a non portare avanti nessuna iniziativa sulla tutela delle donne lavoratrici con stipendi adeguati.

    I talenti vanno coltivati, ma innanzitutto vanno messi al mondo. Altrimenti ci troveremo ad avanzare ottime proposte politiche senza avere nessuno su cui applicarle.

     
       


     

      Nela Riehl, on behalf of the Verts/ALE Group. – Mr President, as the Draghi report outlines, the question of skills is not just one of preparing the labour force for changing demands, but also about giving people the tools to adapt and engage with a changing world and benefit from new technologies. This is what competitiveness should mean.

    As a teacher, I have great respect for traditional classrooms, but classrooms are only just the beginning. At the moment, only 40 % of European adults train every year. This is very far from the 60 % target that the EU set itself to reach by 2030. Training must be a lifelong commitment.

    Lifelong learning, development, developing digital skills, must be a fundamental right and not just a privilege reserved for a few. This isn’t just about preparing for tomorrow’s jobs. It’s about empowering everyone to thrive in a world that is always evolving.

    So what does this actually mean? First, we need to address the lack of investment in skills. Every euro spent on training is a euro invested in our economy and society. This needs to be reflected in public budget decisions.

    Second, we need to establish an individual right to training for every European worker. But beyond this, we must break down the barriers that prevent skills and qualifications being recognised across borders. Let us make lifelong learning the new norm!

     
       

     

      Li Andersson, The Left-ryhmän puolesta. – Arvoisa puhemies, kaikki puhuvat nykyään taidoista. Yritykset ovat nostaneet osaavien työntekijöiden puutteen esille keskeisimpänä kasvun esteenä Euroopassa. Työvoimapula vaivaa monia aloja, ja myös Draghin raportin viesti oli, että kaikille eurooppalaisille työntekijöille pitää turvata oikeus kouluttautua.

    On tärkeää, että Eurooppa nostaa yksiselitteisesti osaamisen ja oppimisen kilpailukyvyn keskiöön. Meidän ei tule kilpailla palkkoja polkemalla, työehtoja heikentämällä, luonnonvaroja riistämällä tai antamalla eriarvoisuuden kasvaa räjähdysmäisesti. Meidän tulee tehdä asioita uudella ja paremmalla tavalla – niin talouden vahvistamiseksi kuin ihmisten elämän parantamiseksi.

    Mutta olemmeko todellakin valmiita koulutuspolitiikkaan, joka vastaa näihin suuriin haasteisiin? Silloin niin työnantajilla kuin yhteiskunnilla pitää olla valmius rahoittaa työikäisten opiskelua nykyistä enemmän. Silloin työnantajien pitää olla valmiita antamaan työntekijöiden käyttää siihen työaikaa. Silloin työttömille pitää antaa vapaus ja mahdollisuus opiskeluun. Silloin myös koulutusjärjestelmämme tulee vastata paremmin erilaisten oppijoiden tarpeisiin. Tämä kaikki edellyttää aivan eri mittaluokan panostuksia kuin mitä me tähän asti olemme nähneet.

    Meidän tulee myös ymmärtää, että työvoimapulassa ei ole kyse vain taidoista tai niiden puutteista. Siinä on myös kyse työoloista – palkasta, työoloista, työehdoista ja mahdollisuuksista vaikuttaa. Mikään määrä taitoja tai koulutusta maailmassa ei korvaa sitä, että ihmiset saavat mahdollisuuden tehdä työnsä hyvin, kunnollista korvausta vastaan.

     
       

     

      Рада Лайкова, от името на групата ESN. – Уважаеми граждани на ЕС, единственото нещо, което е по-безидейно от доклада на Марио Драги, е стратегията, заложена в този доклад. Както и очаквахме, този уж външен доклад се цитира вече за всеки план на ЕС, като задължително се добавят думи, събудени думи или „woke“ думи като зелен, устойчив, дигитално приобщаващ, климатично, неутрален и т. н.

    Със стремежа си за уеднаквяване Европейският съюз сам създаде кризата в образованието, защото университетите станаха фабрики за хора с дипломи без истински знания. Учат се да повтарят, а не да мислят. А това не е целта на критичното мислене и образованието. Трудно ми е да повярвам, че ЕС иска да подобри образованието, защото тук няма интерес от информирани граждани, иначе не биха се въвеждали закони под предлог за защита от дезинформация.

    Информираните граждани не се третират като деца. Спомнете си клиповете за миене на ръце на Урсула фон дер Лайен. Европейският съюз има нужда от покорни, дигитално маркирани данъкоплатци, които не задават въпроси, затова и преследва подобна политика в сферата на образованието. Но в последните 15 години вече беше нанесена достатъчно вреда в тази сфера и този период скоро трябва да приключи.

     
       

     

      Jagna Marczułajtis-Walczak (PPE). – Panie Przewodniczący! Panie komisarzu! Problem luki w umiejętnościach w Unii Europejskiej jest kwestią bardzo złożoną. Umiejętności pracowników i systemy kształcenia, a z drugiej strony oczekiwania rynku pracy nie zbiegają się w jednym punkcie. To problem wieloaspektowy.

    Po pierwsze, szybkie zmiany technologiczne generują nowe, wymagające umiejętności, za którymi wiele osób nie nadąża. Po drugie, w wielu krajach Unii Europejskiej systemy edukacyjne i programy nauczania wymagają uelastycznienia. Po trzecie, luki w umiejętnościach wynikają także z nierówności regionalnych. Lokalni pracodawcy często nie są w stanie znaleźć odpowiednio wykwalifikowanej kadry w swojej okolicy. Po czwarte, kolejną ważną sprawą jest kwestia starzejącego się społeczeństwa. To wyzwanie, ale i okazja do budowania lepszych i dostępnych systemów opieki i rehabilitacji.

    Wspierajmy uczenie się zawodów opiekuńczych, które są nieocenione dla członków naszych rodzin, a które kiedyś będą nieocenione i dla nas. Potrzebujemy działań na wielu frontach, ale najważniejsze jest prawidłowe zrozumienie problemu, który niewątpliwie istnieje.

     
       


     

      Pascale Piera (PfE). – Monsieur le Président, après avoir été président de la Banque centrale et si étroitement impliqué dans les orientations de l’Union européenne, Mario Draghi pose le constat de l’inefficacité totale des politiques européennes, menées à bâtons rompus au détriment des peuples. Nous le savons, notre continent n’est plus que l’ombre de lui-même sur le plan industriel, sur le plan commercial, sur le plan migratoire.

    Mario Draghi fait-il un mea culpa? Jamais. Pour expliquer ce désastre, auquel il a activement participé, il exhibe la pénurie de compétences comme s’il s’agissait d’une pénurie de marchandises. Pour tenter d’y remédier, il nous projette dans la fantasmagorie de la transition numérique et verte en nous promettant, dans une novlangue insupportable, toujours plus d’Europe, toujours plus d’argent pour d’hypothétiques programmes éducatifs, et en réalité toujours plus d’intrusion pour ce qu’il reste de souveraineté aux États souverains.

    Mario Draghi fait l’économie de toute réflexion de fond et préfère l’asservissement de notre jeunesse aux écrans et aux propagandes wokistes. Pourtant, redonner un niveau de compétence à notre jeunesse, c’est encourager la connaissance de ses racines, la richesse de la littérature, le travail et l’esprit critique. Autant de conditions qui ne sont pas aujourd’hui assurées par l’Union européenne.

     
       

     

      Georgiana Teodorescu (ECR). – Domnule președinte, România are nevoie urgentă de redeschiderea școlilor vocaționale de arte și meserii. Am ajuns o țară de absolvenți de studii superioare care nu știu să facă nimic și care nu își găsesc locuri de muncă pe măsura diplomelor, așa că fie pleacă la munci necalificate peste granițe, fie se angajează în astfel de servicii chiar în țară. Astăzi, în România, un electrician câștigă mai bine decât un avocat sau un inginer, spre exemplu, și chiar și așa nu îl găsești spre a-l angaja.

    Această imagine critică asupra țării mele riscă să se reflecte și asupra Europei în curând. Dacă nu alocăm bani mulți pentru învățământul vocațional, vom ajunge să importăm astfel de forță de muncă doar din afara granițelor Uniunii Europene, în timp ce propriii noștri cetățeni vor fi asistați social. Colaborarea între Uniunea Europeană, sectorul privat și instituțiile de învățământ este esențială. Trebuie să creăm parteneriate care să adune resurse și expertiză ca să ne asigurăm că programele de formare răspund nevoilor de mâine.

     
       

     

      Grégory Allione (Renew). – Monsieur le Président, Monsieur le Commissaire, chers collègues, le rapport Draghi nous l’a montré: l’Europe doit devenir plus compétitive. C’est un défi existentiel, un défi pour voir l’Union devenir une actrice forte et indépendante sur la scène mondiale, cheffe de file dans les domaines de l’éducation, des nouvelles technologies et de la lutte contre le changement climatique.

    Nous le savons, l’investissement dans l’éducation et la formation, dans la protection sociale et la santé contribue à créer une société souveraine, plus résiliente, plus inclusive et, de fait, plus compétitive. Oui, nous devons d’urgence combler notre déficit en matière de compétences. Actuellement, près de 80 % des employeurs peinent à recruter des travailleurs possédant les compétences requises, quand ceux que nous avons formés font valoir, bien cher et outre-Atlantique, leurs compétences acquises ici en Europe. Par ailleurs, 60 % des travailleurs déclarent avoir besoin d’être formés aux outils de l’intelligence artificielle, quand 14 % le sont réellement. Enfin, nous le savons, il y a des pénuries de main-d’œuvre dans les domaines essentiels de la transition tels que la construction, la santé ou les énergies bas carbone.

    Le chantier est énorme. Le rapport Draghi nous donne la trajectoire comme les solutions. Sans renforcer les compétences de nos travailleurs, de notre richesse humaine, l’Union restera spectatrice de sa double transition – verte et numérique.

     
       


     

      Marina Mesure (The Left). – Monsieur le Président, pour les besoins de la bifurcation écologique, 25 millions d’emplois sont nécessaires. Mais combien de ces postes resteront non pourvus, faute de travailleurs correctement formés et de conditions de travail décentes?

    Prenons un secteur clé: celui de la construction. Nous savons tous ici qu’il y a urgence à rénover les bâtiments, car il s’agit d’un enjeu social majeur pour nos concitoyens, qui peinent à se loger et à payer leur facture énergétique, et d’un enjeu écologique, puisque les bâtiments représentent 40 % des émissions de gaz à effet de serre. Et bien, dans ce secteur, le manque de main-d’œuvre est une préoccupation pour 96 % des entreprises.

    Alors pourquoi si peu de candidats? Le rapport Draghi apporte une explication parmi d’autres: les salaires peu attrayants, qui contribuent à ce déficit dans un secteur qui compte encore un mort par jour. Donc, si vous voulez parler compétitivité, très bien! Mais vous ne pouvez pas le faire sans parler démocratie sociale, valorisation de ces métiers essentiels, formation continue, conditions de travail dignes, reconnaissance de la pénibilité au travail et garantie d’un environnement de travail sain et sûr pour toutes et pour tous.

    C’est ainsi que nous rendrons les métiers essentiels à la bifurcation écologique attrayants et que nous comblerons le déficit de main-d’œuvre.

     
       

     

      Diego Solier (NI). – Señor presidente, señor comisario, señorías, si queremos una Europa competitiva, realista y sostenible, necesitamos cambios de impacto rápido en nuestros ciudadanos.

    Tenemos tres importantes áreas en las que hay que dar un giro de 180 grados.

    Primero, una pirámide poblacional suicida y totalmente invertida. Sin políticas de familia, natalidad y conciliación laboral, esto no se resolverá ni importando a millones de inmigrantes, como pretenden ustedes.

    Segundo, despolitización de la educación de Europa. Solo priorizando la excelencia y el esfuerzo de los estudiantes, superaremos la mediocridad: agilicemos la homologación de títulos universitarios europeos, desarrollemos una conexión empresarial con esos mismos entornos educativos de éxito.

    Y, tercero, la formación a los empleados en tecnologías para que exploten sus productividades. El 99 % de nuestro tejido empresarial es pequeña y mediana empresa y carece de los recursos necesarios para cumplir con toda la burocracia que les imponemos desde Europa.

    El tiempo de actuar es ahora. Mañana ya será tarde.

     
       

     

      Andreas Schwab (PPE). – Herr Präsident, Herr Kommissar, liebe Kolleginnen und Kollegen! Mario Draghi hat uns auf fast 400 Seiten hier mit seinem Bericht die Schwachstellen der EU-Gesetzgebung ins Stammbuch geschrieben. Aber er kommt anders, als die Kollegin behauptet, nicht zu dem Ergebnis, dass das, was wir gemacht haben, alles falsch ist, sondern wir haben, was die Qualifikationslücke angeht, im Binnenmarkt falsche Anreize gesetzt. Und dafür haben wir eigentlich seinen Bericht nicht gebraucht, denn es war schon bei vielen Unternehmensbesuchen offensichtlich, dass wir es mit den Berichtspflichten schlicht übertrieben haben. Nicht jedes wünschenswerte Ziel braucht auch eine Berichtspflicht.

    Das Beispiel ist bekannt aus meinem Wahlkreis: Ein kleines mittelständisches Unternehmen muss, weil es Zulieferer für ein Großunternehmen ist, 1 600 Berichtspflichten erfüllen im Rahmen der Corporate Social Responsibility-Richtlinie. Da geht es natürlich darum, dass die drei neuen Mitarbeiter, die dieses Unternehmen lange suchen muss, bevor sie eingestellt werden können, dann nicht in der Produktion sind, sondern beim Ausfüllen der Berichtspflichten. Gleichzeitig muss die große Wirtschaftsprüfungsgesellschaft auch zwei neue Mitarbeiter einstellen, um diese Berichtspflichten zu überprüfen, um den Jahresabschluss zu erstellen – das ist schlicht und ergreifend eine Fehlallokation.

    Wir müssen dazu kommen – und am besten in den ersten 100 Tagen der neuen Kommission –, dass der Unternehmer ein leeres Blatt Papier nimmt und drauf schreibt: Ich habe die Regeln verstanden und gelesen und hafte mit meinem Namen. Die Franzosen sagen dazu lu et approuvé. Das würde Bürokratie abbauen, die Sache vereinfachen und das Leben für viele Unternehmer wieder angenehmer machen mit dem Ziel, den Wohlstand der Bürgerinnen und Bürger in Europa zu steigern; und das können wir schaffen.

     
       

     

      Niels Fuglsang (S&D). – Hr. formand! Kære kolleger! I løbet af det sidste år har vi vedtaget meget vigtig lovgivning her i huset. Lovgivning om hvordan vi fremmer den grønne omstilling. Mål for vedvarende energi, hvor meget skal vi have? Mål for energieffektivitet. Lovgivning, der skal omstille industrien til at blive grøn. Men alt det her kan jo kun lade sig gøre, hvis vi har den nødvendige kvalificerede arbejdskraft. Hvis vi har tilstrækkeligt med faglærte, der kan sætte vindmøllerne op. Elektrikere, der kan sætte strøm til vores elbiler. Mekanikere, der kan reparere vores biler, og smede, der kan svejse vores pumper. Derfor har vi brug for kvalificeret arbejdskraft. Vi har brug for al den arbejdskraft, vi overhovedet kan tænke på, til at udvikle nye innovative teknologier. Og jeg er glad for at se, at Mario Draghi fokuserer på netop det her i sin rapport. Det er det, vi skal investere i sammen. Det er nu, det gælder.

     
       

     

      Annamária Vicsek (PfE). – Tisztelt Elnök Úr! A Draghi-jelentésben említett készséghiányokat és az európai versenyképesség súlyos hanyatlását nem pusztán tüneti kezelésekkel, hanem valódi versenyképesség-növelő intézkedésekkel lehet csak megoldani.

    Ilyen megoldás lehet például a magyar modell, amit a magyar elnökség programjának elemeként ismerhettünk meg. A felsőoktatásban, a szakképzésben és a felnőttképzésben kialakított stratégiai partnerség a felsőoktatási és szakképzési intézmények, valamint a gazdasági és társadalmi szereplők között öt év alatt már mérhető eredményeket hozott. Míg öt éve még csak 7 magyar egyetem, mára már 12 tartozik a világ legjobb 5 százalékába, sőt a világ legjobb 1%-ában is található magyar egyetem. 20%-kal nőttek a vállalati bevételek, nőtt a hallgatói létszám és nagy arányban csökkent a lemorzsolódás.

    A Bizottság meg kell, hogy kezdje Európa versenyképességének fokozását, ugyanakkor meg kell, hogy szüntesse a magyar felsőoktatási intézmények versenyképességét csökkentő diszkriminatív intézkedéseit, amely végső soron a teljes Európai Unió versenyképességét is csökkenti.

     
       

     

      Marlena Maląg (ECR). – Panie Przewodniczący! Panie komisarzu! Niedobór kwalifikacji to poważny problem, który dotyka całą Unię Europejską. Jak wynika z raportu Draghiego, około trzech czwartych europejskich firm zgłasza trudności ze znalezieniem pracowników z odpowiednimi umiejętnościami. Jednocześnie około 42% Europejczyków nie posiada podstawowych umiejętności cyfrowych. Nakładają się na to jeszcze problemy demograficzne starzejącego się społeczeństwa i daje to obraz rynku pracy.

    Choć polityka kształcenia i szkolenia leży w gestii państw członkowskich, Unia wspiera te wysiłki, popierając konkretnymi strategiami, programami oraz udzielając konkretnego wsparcia. Szczególne znaczenie mają tu umiejętności cyfrowe, szkolnictwo zawodowe, w tym inwestowanie w kształcenie ustawiczne. Bardzo ważne jest promowanie takich inicjatyw jak Junior Skills promujących młodych mistrzów zawodowych. Zamiast promować migrację, musimy zadbać o to, aby wykształcić własnych specjalistów po to, aby Unia Europejska była odporna na kryzysy i znacznie bardziej konkurencyjna.

     
       

     

      Христо Петров (Renew). – Г-н Комисар, инженери, IT специалисти, готвачи, Европейският съюз е изправен пред недостиг на работна ръка за много професии. В моята страна бизнесът има огромни проблеми при намирането на подходящи кадри. Докладът на Марио Драги призовава за принципно нов подход към уменията и аз съм съгласен. Но когато говорим за конкурентоспособност, трябва да говорим и за европейския социален модел, защото той прави Европа най-доброто място в света за живеене и работа.

    За да решим проблема, ние трябва да укрепим нашата стратегия за повишаване на уменията и преквалификация на работниците, както и да активираме цялото население в трудоспособна възраст с персонализирана подкрепа. Все още има нереализиран потенциал в нашите региони. Трябва и да привлечем таланти от цял свят, за това „EU Talent Pool“ ще бъде от огромно значение. Той трябва да насърчи законното наемане на работа, като гарантира безопасност, ефективност и адекватност.

    Време е да създадем правилния инструмент, който да е от полза както за работодателите, така и за търсещите работа.

     
       

     

      Benedetta Scuderi (Verts/ALE). – Signor Presidente, onorevoli colleghi, la transizione ecologica e quella digitale ci offrono un’opportunità incredibile, non solo per creare milioni di posti di lavoro ma anche per rivoluzionare il nostro paradigma produttivo e socioeconomico verso un mondo del lavoro più giusto e inclusivo.

    La carenza di manodopera qualificata è evidente ed è quindi essenziale colmare il divario di competenze con percorsi di formazione e aggiornamento professionale. Questo impegno, però, non deve essere preso solo dall’industria ma anche da noi istituzioni, dal pubblico. Solo così, infatti, possiamo includere nel mondo del lavoro tutte le persone che ne rimangono sistematicamente escluse.

    Penso alle donne, alle persone razializzate, alle persone trans, a quelle con disabilità e a tutte quelle che subiscono discriminazioni. Penso ai giovani e a tutte le difficoltà a entrare nel mondo del lavoro a suon di tirocini non pagati e salari bassissimi.

    Quindi, ben venga riportare l’industria europea al centro dell’agenda politica: ma per farlo non possiamo commettere gli stessi errori del passato. Torniamo a parlare con le parti sociali in modo serio, rafforziamo la contrattazione collettiva, garantiamo standard elevati di sicurezza sul luogo di lavoro, lotta a pratiche antisindacali, a frodi, a sfruttamento sociale e, soprattutto, salari dignitosi.

    Un mercato del lavoro frutto di una società ineguale e un tessuto sociale impoverito non può essere competitivo.

     
       

     

      Dario Tamburrano (The Left). – Signor Presidente, onorevoli colleghi, Stati Uniti e Cina concorrono per la supremazia nelle nuove tecnologie, come mobilità elettrica e intelligenza artificiale, mentre noi, con la nostra politica economica e industriale fallimentare, abbiamo perso decenni e posizioni e stiamo retrocedendo anche nelle politiche dell’istruzione e dell’educazione al digitale per le nuove generazioni.

    La nostra industria non cresce abbastanza, anche perché non coltiva abbastanza e protegge le intelligenze naturali. In questo scenario fosco, le nostre società subiscono, invece di governarli, gli effetti della digitalizzazione.

    È un’emergenza sociale e medica: il fenomeno dell’addicction digitale e di impoverimento delle capacità psico-relazionali, causati dall’esposizione permanente e inconsapevole alle nuove tecnologie digitali. È pertanto un imperativo morale rendere genitori e ragazzi più edotti degli effetti collaterali del digitale pervasivo e dell’intelligenza artificiale.

    E lancio un appello a Parlamento e Commissione, affinché si avviino programmi specifici di monitoraggio e prevenzione, soprattutto per i soggetti in età evolutiva. Per una volta, di fronte a una nuova tecnologia, preveniamo invece di curare.

     
       

     

      Pilar del Castillo Vera (PPE). – Señor presidente, señor comisario, cada persona debe tener su oportunidad en la transición digital. Solo con una formación adecuada cada uno podrá aprovechar todo el potencial que brinda la digitalización.

    Esta brecha, como señala el señor Draghi, que hay con países que tienen más desarrolladas tanto la innovación tecnológica como la formación tecnológica es, en buena medida, la que explica el déficit que tenemos nosotros respecto de la competitividad que tienen países como los Estados Unidos. Es imperativo que competitividad y formación digital vayan de la mano. La formación digital debe estar presente a lo largo de todo el período educativo; por ejemplo, la programación debe incorporarse siempre en los inicios de la educación escolar, para que los alumnos vayan comprendiendo la naturaleza digital del sistema en el que viven.

    Por otra parte, la Unión Europea debe incrementar el número de graduados CTIM, que, pese a los avances, todavía está lejos de cubrir la demanda que existe en estos perfiles. También es esencial reforzar la formación digital en los sistemas de formación profesional.

    Por último, la actualización y la adquisición de nuevas habilidades digitales deben ser constantes a lo largo de la vida; es más, hay que garantizarlo.

    En definitiva, la formación digital no solo es clave para lograr una Europa innovadora y competitiva, también lo es para que cada persona tenga su oportunidad en este proceso de transformación digital. Y, añado, no solo es esencial, también es urgente: el momento es ahora, mañana será tarde.

     
       

     

      Marcos Ros Sempere (S&D). – Señor presidente, señor comisario, hablar de juventud es hablar de futuro, y para que el futuro sea brillante necesitamos reforzar sus competencias.

    Las intenciones son buenas: la prueba es una futura vicepresidenta ejecutiva dedicada a estas competencias en la nueva Comisión Europea. Pero, sin embargo, los datos son más oscuros: los resultados de los jóvenes indican un déficit de competencias, y las proyecciones para 2035 apuntan a que este déficit aumentará.

    Debemos actuar. Necesitamos una estrategia europea para reducir el déficit en competencias en todas las fases de la educación. Tenemos que ofrecer a nuestros jóvenes herramientas para desarrollar competencias, mejorarlas y actualizarlas durante la vida adulta, y el reconocimiento automático de títulos académicos y de competencias para mejorar el entendimiento y la movilidad entre Estados miembros.

    2025 ya está aquí, y es la fecha que marcamos para pedir la implementación del Espacio Europeo de Educación. Hagámoslo realidad, hagamos brillar el futuro de nuestros jóvenes.

     
       

     

      Antonella Sberna (ECR). – Signor Presidente, onorevoli colleghi, signor Commissario, il divario delle competenze rischia di frenare il nostro sviluppo e penalizzare la competitività dell’Europa e quello di genere, in particolare, continua a penalizzare il potenziale delle donne, specialmente nei settori strategici come la tecnologia.

    Secondo l’Istituto europeo per l’uguaglianza di genere, l’eliminazione di questo divario nei settori STEM potrebbe favorire la creazione di ulteriori 1.200.000 posti di lavoro. In occasione dell’Anno europeo delle competenze, in Italia il governo Meloni ha introdotto, con la legge 187 del 2023, la Settimana nazionale delle discipline STEM, con l’obiettivo di sensibilizzare e stimolare l’interesse dei ragazzi, e soprattutto delle ragazze, verso queste discipline. È una buona prassi e quindi può ispirare il lavoro di altri Paesi membri.

    In Europa, invece, la Commissione europea ha promosso il patto per le competenze, un’iniziativa che riteniamo importante, che invita le organizzazioni pubbliche e private a unire le forze e adottare azioni concrete per migliorare – soprattutto anche riqualificare – le persone in Europa. Ma non basta: sono necessarie una vera unione delle competenze, in cui l’accesso alle discipline chiave sia equo e accessibile per tutti, e la formazione per la riqualificazione professionale dei settori meno attrattivi.

    Dobbiamo garantire che le competenze acquisite in un Paese siano facilmente riconosciute in tutti gli Stati membri, favorendo la mobilità e l’inclusione lavorativa. Solo così possiamo affrontare il futuro con fiducia e rafforzare la competitività in Europa.

     
       

     

      Ľudovít Ódor (Renew). – Vážený pán predsedajúci, pán komisár, milí kolegovia, Európska únia musí v najbližších desaťročiach zvládnuť dve veľké transformácie – zelenú a digitálnu, a to so starnúcou populáciou. Táto misia je od začiatku odsúdená na zánik, ak sa nezbavíme zlozvykov z dvadsiateho storočia. Ktoré sú to? Po prvé, nemali by sme mladých pripravovať na konkrétnu profesiu, ale potrebujeme ich naučiť zručnosti na zvládnutie týchto výziev. Po druhé, prestaňme deliť život na vzdelávanie a následnú prácu. Nebuďme naivní, že dnešné poznatky nám postačia aj o 30 rokov. Práve digitalizácia a umelá inteligencia nám môžu pomôcť, aby sme sa kontinuálne učili tempom a spôsobom, ktorý nám vyhovuje. Po tretie, netvárme sa, že výborná priemerná kvalita univerzít stačí. Európska únia má na viac. Pre globálny úspech potrebujeme excelentnosť a musíme sa stať magnetom pre zahraničný talent. V dvadsiatom storočí sme si veľmi zvykli, že investície sú len o strojoch, betóne a asfalte. V dvadsiatom prvom storočí by mali byť najmä o ľudskom kapitáli.

     
       

     

      Rasmus Andresen (Verts/ALE). – Herr Präsident! Eine Million! Eine Million Fachkräfte fehlen bis 2030 allein dem deutschen Arbeitsmarkt, und in vielen anderen europäischen Staaten sieht das nicht anders aus.

    Über 60 % der kleinen und mittelständischen Unternehmen geben an, dass sie jetzt bereits Probleme haben, Fachkräfte zu finden. Der Fachkräftemangel ist eines der größten Probleme, das wir in der Europäischen Union in den nächsten Jahren haben, und ganz ehrlich: Es passiert viel zu wenig, um ihn anzugehen.

    Deshalb ist es gut, dass wir hier darüber reden, denn wenn wir wettbewerbsfähig sein wollen, dann brauchen wir qualifizierte Arbeitskraft. Die Antwort darauf ist: mehr Migration, mehr Investitionen in Bildung, eine bessere Vereinbarkeit von Familie und Beruf und auch bessere Arbeitsbedingungen, denn nur mit attraktiven Jobs werden wir es schaffen, Menschen zu uns zu bekommen.

    Denn wir brauchen mehr Menschen, die in der EU arbeiten, und nicht weniger. Deshalb ist es ein Problem, wenn Nationalismus, Hass und Hetze die Debatte bei uns dominieren. Niemand möchte in einer Europäischen Union leben, wo Alice Weidel oder Marine Le Pen den Takt angeben. Wir brauchen eine Willkommenskultur, die Menschen begrüßt und sie dabei unterstützt, hier bei uns ihren Arbeitsweg zu bestreiten.

     
       


     

      Sérgio Humberto (PPE). – Caro Presidente, Caro Comissário, Caros Colegas, em Portugal temos um provérbio que nos ensina que não devemos chorar sobre o leite derramado, e é por isso que devemos falar de soluções para o desafio que enfrentamos. Permitam‑me que partilhe convosco três prioridades para agirmos, porque ninguém cresce na estagnação. Repito: ninguém cresce na estagnação.

    Primeira: precisamos de investir na aprendizagem ao longo da vida. Aprender é a base para sermos mais produtivos e competitivos nos nossos territórios. Aprender em qualquer momento, em qualquer lugar vai‑nos preparar para as profissões do futuro e garantir um crescimento inclusivo.

    Segunda: precisamos de apostar na transição digital e tirar mais partido dos dados e da inteligência artificial, principalmente nas áreas da saúde, da energia e da biotecnologia.

    Terceira: precisamos de transitar para uma economia mais verde, de desenvolver uma verdadeira união energética numa verdadeira União Europeia.

    Precisamos de estar mais próximos. É tentador achar que estamos todos muito longe uns dos outros. No meu país, Portugal, também já estive longe, mas o longe faz‑se perto. Todos juntos somos muito mais do que 27. Se trabalharmos todos juntos, ninguém fica para trás.

    (O orador aceita responder a uma pergunta «cartão azul»)

     
       

     

      João Oliveira (The Left), Pergunta segundo o procedimento «cartão azul». – Senhor Deputado Sérgio Humberto, falou, na sua intervenção, da importância da educação e da formação para a qualificação dos trabalhadores. E eu quero que nos diga: como é que isso se faz, aceitando as restrições orçamentais que a União Europeia nos impõe? Como é que isso se faz – como neste momento acontece em Portugal – com o Governo que o senhor apoia a apresentar uma proposta de Orçamento do Estado que, aceitando as restrições orçamentais que a União Europeia nos impõe, não investe na escola pública, não investe na contratação e na requalificação das carreiras dos professores, não investe na contratação e na valorização dos auxiliares de ação educativa, dos técnicos especializados?

    Como é que isso tudo se faz? Porque, senão, o seu discurso é uma contradição com a prática.

     
       

     

      Sérgio Humberto (PPE), Resposta segundo o procedimento «cartão azul». – Caro Colega João Oliveira, durante os últimos nove anos, o meu país foi governado pela esquerda. Uma geringonça entre o Partido Socialista, o seu partido – o Partido Comunista – e o Bloco de Esquerda. Durante nove anos, desinvestiu‑se no sistema público educativo, desinvestiu‑se na saúde, desinvestiu‑se naquilo que eram os serviços públicos e este Governo, nos últimos – apenas – seis meses, já demonstrou que está a apostar na educação, que é fundamental para as pessoas crescerem.

    Nós só conseguimos redistribuir se nós formos um país mais rico e mais próspero.

     
       

     

      Elisabetta Gualmini (S&D). – Mr President, Commissioner, the spread of digital technologies is having a huge impact on the labour market, and innovations such as AI, robotics, quantum technology and 6G are triggering a wave of new demands for a new generation of advanced digital skills.

    The Draghi report strongly highlights how digitalisation and AI are essential, for example for the public sector due to its ability to provide quality public goods in the fields of health, education, justice and welfare. We need to work hard on the European digital decade programme and its ambitious goals, pushing professional training and life-long learning.

    We are still lagging behind: in Italy, only 22 % of the population have advanced digital skills. Only 30 % of SMEs have implemented a solid digital strategy, which is not a luxury, it’s a strategic asset. So we shouldn’t be afraid of change and Europe’s strength has always relied upon its people. By empowering them, we ensure that our communities grow and that the EU remains a global leader in innovation.

     
       

     

      Kris Van Dijck (ECR). – Voorzitter, commissaris, ik kom uit een land dat geen grondstoffen heeft, maar wel hersenen. Dat is het beste menselijk kapitaal. Wat voor Vlaanderen geldt, geldt in hoge mate voor heel Europa. Echter, PISA-resultaten tonen ons keer op keer dat de studieresultaten van onze jongeren er niet op vooruit gaan. Integendeel. We moeten dus onze lidstaten oproepen – niet in hun plaats treden, maar oproepen en ondersteunen – om de kwaliteit van ons onderwijs fundamenteel te verbeteren en op topniveau te brengen.

    Daarvoor moeten we streven naar uitmuntende prestaties, met aandacht voor kennisoverdracht bij kinderen en scholieren. We moeten leerkrachten en docenten de ruimte geven om hun werk te doen: lesgeven. We moeten gebruikmaken van moderne digitale technieken in alle opleidingen. We moeten universiteiten laten samenwerken en uitwisselen, bijvoorbeeld met het Erasmus+‑programma, over de grenzen heen. We moeten technische opleidingen en kunstopleidingen elkaar laten bevruchten. We moeten onderzoekers en wetenschappers in de EU de nodige omkadering en infrastructuur bieden, zodat ze niet vertrekken. We moeten projecten waarin we veel geld hebben gestoken niet laten doodbloeden zolang er resultaten zijn, zoals nu met de fusiereactor JET dreigt te gebeuren. Goed onderwijs is de basis voor een sterk Europa.

     
       

     

      Billy Kelleher (Renew). – Mr President, the Draghi report makes very sober reading for us in the European Union with regard to the challenges that we face in the digital economy and in the green economy in particular. Also, when you couple that with the demographic changes that are happening and the fact that we are an ageing population, our skills and labour force planning leaves a lot to be desired.

    What has happened now is that we’ve been found out with regard to skills shortages in key areas right across the entire economy. For example, 54 % of EU businesses, big and small, report skills shortages as the most pressing issue facing them.

    So we need to incentivise and reward upskilling and reskilling. We also need to promote lifelong learning, something that is more important as life expectancy increases over the years, and back‑to‑education and back‑to‑work as well. There are many cohorts of people, particularly women, who are not able to get back into the workplace because of a lack of support when finished with child rearing.

    That is a key area where we have consistently failed across many economies in the European Union in terms of incentivising and supporting labour activation and back‑to‑work and back‑to‑education for cohorts that were locked out for various reasons.

    So I hope that we invest in skills and lifelong learning and back‑to‑education, and support labour mobility as well.

     
       

     

      João Oliveira (The Left). – Senhor Presidente, a produtividade do trabalho tem vindo a aumentar sempre acima da evolução dos salários reais. A consequência disto é a transferência de riqueza criada pelos trabalhadores para o capital, e esse problema só pode ser resolvido aumentando os salários e garantindo uma distribuição mais justa da riqueza criada. Essa é a questão de fundo.

    Mas, este debate sobre a competitividade centra‑se, apenas, na comparação concorrencial com os Estados Unidos e a China. O relatório de Draghi é uma espécie de Bíblia não confessada da Comissão Europeia. Nesse relatório, os trabalhadores são vistos apenas como peças de uma engrenagem de produção, os seus direitos e necessidades não são considerados e a competitividade é abordada, dando prioridade à criação de empresas monopolistas pan‑europeias, à concentração e centralização do capital, ao agravamento da exploração de quem trabalha.

    O caminho do desenvolvimento e da justiça social é outro e tem de ter no centro das preocupações e prioridades políticas os trabalhadores, os seus direitos, os seus salários, as suas condições de vida e uma distribuição mais justa da riqueza criada pelo trabalho.

     
       

     

      Giusi Princi (PPE). – Signor Presidente, onorevoli colleghi, signor Commissario, la nostra capacità di rimanere competitivi e resilienti dipende dalla qualità delle competenze. La relazione Draghi evidenzia chiaramente come l’investimento in questo contesto sia essenziale per formare una forza lavoro altamente qualificata.

    È questa l’unica via per garantire all’Europa un ruolo leadership nelle industrie chiave come il digitale, l’energia verde e la finanza sostenibile. Nei primi vent’anni del XXI secolo abbiamo assistito a forme di conoscenza e di produzioni innovative che, in ultimo, con l’avvento dell’intelligenza artificiale, hanno generato profondi cambiamenti professionali. Il 56% dei lavori sta scomparendo e subirà imponenti trasformazioni entro pochi decenni.

    Occorre affrontare le nuove sfide ripensando a nuovi modelli educativi e formativi. L’Europa è ancora indietro negli investimenti, nella ricerca e nell’educazione rispetto a Stati Uniti e Cina. Ma anche all’interno dello stesso continente vediamo i Paesi del Nord investire maggiormente risorse umane rispetto alle aree marginali del Sud Europa.

    Il gruppo PPE e Forza Italia, con il suo recente documento economico, sono fermamente convinti che l’Anno europeo delle competenze debba quindi rappresentare un’opportunità per investire in modo uniforme in ricerca, educazione e innovazione per arginare la mancanza di specializzazioni e la profonda carenza tra domanda e offerta di competenze.

    Il nostro impegno, però, non può essere esclusivamente tecnico. Dobbiamo garantire che l’accesso alle competenze sia equo e inclusivo: tutti devono poter partecipare attivamente alla crescita europea per evitare che il progresso tecnologico crei nuove disuguaglianze.

     
       

     

      Tiemo Wölken (S&D). – Sehr geehrter Herr Präsident, liebe Kolleginnen und Kollegen! Die Liste der Herausforderungen, die Draghi uns ins Pflichtenheft geschrieben hat, ist lang. Da ist der unvollendete Binnenmarkt, da ist eine unkoordinierte Industriepolitik und immer größer werdende Abhängigkeit bei kritischen Technologien, die letztlich unsere politische Handlungsfähigkeit, aber auch unsere Gesellschaft als Ganzes bedrohen. Wir diskutieren jetzt aktiv die Bewältigung dieser Mammutaufgabe. Aber zu oft bleiben wir dabei bei plakativen, einfachen Forderungen. Die einen sagen „mehr Subventionen“, die anderen sagen „weg mit jeglicher Bürokratie“ – und das Problem sei gelöst.

    Diese vermeintlich einfachen Lösungen sind aber nicht die Antwort, denn Sie vergessen am Ende, worauf es ankommt – auf die Bürgerinnen und Bürger Europas. Wir brauchen für sie und mit ihnen eine digitale, eine grüne Transformation, die ganzheitlich ansetzt und den Menschen in den Mittelpunkt stellt. Und wir müssen fragen: Liebe Bürgerinnen und Bürger, was braucht ihr, um anzupacken, damit diese Transformation gelingt?

    Und ja, dazu gehören auch Subventionen und bürokratische Entlastungen. Aber es geht um gute Arbeitsplätze, um Arbeitnehmerinnen- und Arbeitnehmerrechte, um unsere Lebensbedingungen in Europa und das richtige Handwerkszeug für uns Europäerinnen und Europäer, und deswegen müssen wir gemeinsam anpacken.

     
       

     

      Beatrice Timgren (ECR). – Herr talman! EU vill överbrygga kompetensklyftan och öka konkurrenskraften enligt Draghi-rapporten. Men vad innebär det? Fler lånefinansierade bidrag som svenska sjuksköterskor och byggarbetare kommer att behöva betala och även framtida generationer.

    Draghi vill införa EU-skatter och avskaffa vetorätten. Det här är ett direkt hot mot Sveriges självständighet.

    EU föreslås också öka stödet till den digitala och den gröna omställningen. Det låter gulligt, men det blir en dyr affär för Sverige som redan är världsledande. Vi har redan plöjt ner miljarder i gröna prestigeprojekt som inte levererar. Räcker inte det?

    Det är vanliga medborgares intressen som vi ska värna, inte EU-kläggets utopiska visioner, som gör det svårt att driva företag, betala elräkningen eller få vardagen att gå ihop.

    Enligt tidningen Näringsliv borde Draghi-rapporten skrämma slag på EU. Jag undrar, lyssnar ni borgerliga EPP? Är ni beredda att hjälpa oss att skrota dessa galna planer?

     
       


     

      Andrea Wechsler (PPE). – Sehr geehrter Herr Präsident, sehr geehrte Damen und Herren! Am gestrigen Abend saß ich mit vielen jungen Menschen aus der Textilindustrie zusammen, die die Hoffnungsträger dieser Branche sind. Ich saß aber auch mit vielen Unternehmerinnen und Unternehmern zusammen, die diese Branche vertrauensvoll in die Hände der nächsten Generation geben wollen. Die Diskussion drehte sich immer wieder um die Frage: „Wie können wir, Alt und Jung gemeinsam, in Europa zusammenstehen, um den Wandel und die Transformation in Europa hin zu einer nachhaltigen, zu einer digitalen Zukunft zu gestalten?“

    Es zeigten sich immer wieder die zwei gleichen Herausforderungen: Es fehlt in der Textilindustrie, genauso wie in vielen anderen Branchen, der Nachwuchs; und zweitens stellen wir über die gesamte Arbeitnehmerschaft fest, dass essenzielle Kompetenzen, insbesondere im handwerklichen und digitalen Bereich, fehlen.

    Diese Herausforderungen können wir sogar in konkrete Zahlen fassen. Fast drei Millionen junge Menschen in Deutschland zwischen 20 und 34 Jahren haben keinen Berufsabschluss. Ihnen fehlen die essenziellen Kompetenzen, die Qualifikationen, die unser Arbeitsmarkt auch braucht. Das ist kein deutsches Phänomen; wenn wir den Bericht von Herrn Draghi ansehen, sehen wir, dass 42 % der Europäer die digitalen Fähigkeiten nicht haben, die sie für die Zukunft in Europa benötigen.

    Das ist nicht nur ein Alarmsignal, sondern das ist Auftrag für uns. Wir müssen mit aller Dringlichkeit den Fokus auf digitale und technische Kompetenzen legen und das in das Zentrum unserer Bildungslandschaft setzen. Wir müssen den Fokus auf lebenslanges Lernen legen und auch der älteren Generation eine Chance auf Weiterbildung geben.

    Für uns Christdemokraten steht der Mensch im Mittelpunkt unserer Politik. Wenn wir in unsere Bürgerinnen und Bürger, unsere jungen Talente, unsere erfahrenen Kräfte investieren, investieren wir in die Zukunft Europas.

     
       


     

      Tobiasz Bocheński (ECR). – Panie Przewodniczący! Dzisiejsza debata jest niesłychana, ponieważ kolejny raz, już niezliczoną liczbę razy dyskutujemy tutaj o tym samym. Unia Europejska znajduje się naprawdę w bardzo poważnym kryzysie gospodarczym i w kryzysie konkurencyjności, co wykazał raport Draghiego.

    Ale przychodzicie tutaj, deliberujecie i posługujecie się ciągle tymi samymi okrągłymi określeniami, z których nic nie wynika. Konkurencyjność nie bierze się z biurokracji, konkurencyjność nie bierze się z nadregulacji, nie bierze się z inflacji prawa. Konkurencyjność budowana jest przez przedsiębiorców. Konkurencyjność budowana jest przez wolność gospodarczą, która jest gnieciona od czasu przyjęcia traktatu z Lizbony przez dyrektywy i rozporządzenia Unii Europejskiej. Nie gwarantujecie i nie dajecie żadnej rękojmi, że jesteście w stanie przeprowadzić jakikolwiek skomplikowany, ambitny program, który doprowadzi do zwiększenia konkurencyjności w Unii Europejskiej.

    Powinniście zejść z tej drogi i dokonać głębokiej reformy ustawodawstwa europejskiego. Inaczej biegniemy ku ścianie i będziemy skansenem w porównaniu z Chinami i Stanami Zjednoczonymi.

    (Mówca zgodził się na pytanie zasygnalizowane przez podniesienie niebieskiej kartki)

     
       


     

      Tobiasz Bocheński (ECR), odpowiedź na pytanie zadane przez podniesienie niebieskiej kartki. – Ma pan częściowo rację, o tyle, o ile każde przedsiębiorstwo składa się zarówno z pracowników, jak i z pracodawcy. Ale nie jest prawdą, że powinniśmy akcentować jedynie rolę pracowników, ponieważ jeżeli tak będziemy robili, to doprowadzimy do sytuacji, w której nie będzie żadnych przedsiębiorstw i skończymy jak Związek Radziecki. Bogactwo narodów bierze się z pracy, jak pisał Adam Smith. Bogactwo narodów bierze się z przedsiębiorczości, a pracownicy mają dostawać godne wynagrodzenie za pracę, którą wykonują.

     
       



     

      Paulius Saudargas (PPE). – Mr President, Commissioner, dear colleagues, Europe is in a vicious circle. We all knew it, but Mario Draghi clearly stated it: the king is naked.

    We are not competitive anymore. We lack innovation. But who creates innovation? The people. But we are in a big shortage of those people. First of all, the demography. We are dying out. Secondly, the immigration does not solve the problem of shrinking labour force and does not reduce the skills gap because the migrants do not necessarily meet the right skills portfolio.

    This debate should be a clear message to our educational sector as well. The universities and schools should provide more up-to-date programmes in accordance with the market demand. But, of course, I do not question the need for EU to invest more. Investment in our brightest people and their haute couture skills is a most worthy investment.

    The skills shortage is a growing barrier to innovation. We have talent, but not enough. Europe produces only 850 science, technology, engineering and math graduates per million inhabitants per year, compared to more than 1 100 in the United States. So, having this type of dynamics, the problems will eventually grow. Additionally to the direct solutions in the educational system, we should also have in mind the demography and targeted immigration policy.

    Dear colleagues, the developing artificial intelligence and its adaptation in various sectors will open problems in the labour market that we never faced. Let’s be aware.

     
       


     

      Andrzej Buła (PPE). – Panie Przewodniczący! Panie komisarzu! Raport Draghiego i wiele innych badań oraz dokumentów pokazują, że mieszkańcy Europy dla własnego bezpieczeństwa zawodowego i poczucia osobistej wartości muszą mieć możliwość podnoszenia kompetencji i kwalifikacji. Chcemy, aby mieli warunki do kształcenia się przez całe życie. Trudno zmierzyć te wartości przez pryzmat potrzeb przedsiębiorców, ale wskazują oni, że konkurencja gospodarcza wymaga wysoko wykwalifikowanych kadr. Natomiast żaden mieszkaniec Europy nie powinien obawiać się, że czegoś nie umie, i bać się podejmować nowych wyzwań.

    Europejski Fundusz Społeczny ma ogromny, lecz wciąż niewykorzystany potencjał w zapewnieniu ukierunkowanych szkoleń i możliwości podnoszenia kwalifikacji. Dlatego też program ten powinien być kontynuowany także po 2027 roku, z odpowiednim, wysokim budżetem, tak aby mógł pełnić kluczową rolę w wyposażaniu naszego społeczeństwa w umiejętności przyszłości.

     
       

     

      Estelle Ceulemans (S&D). – Monsieur le Président, il est clair que des engagements forts doivent être pris pour améliorer les compétences et la formation, qui sont des composantes clés pour relever les défis des transitions climatique et numérique, mais aussi pour répondre à l’enjeu des pénuries d’emplois dans certains secteurs, comme ceux de l’aide aux personnes, des soins de santé et de l’enseignement.

    Mais il est important de souligner que cette question est surtout liée à celle de la qualité de l’emploi dans ces secteurs dits en pénurie. Tout d’abord, les salaires sont souvent trop faibles. Il faut donc faire en sorte de les hausser. Mais les conditions de travail posent aussi problème. Il faut donc œuvrer ensemble pour mieux aborder des sujets tels que les risques psychosociaux, le surmenage, le télétravail et le droit à la déconnexion.

    Enfin, reste la question de la conciliation entre vie privée et vie professionnelle. Ce point est déterminant pour mieux intégrer les femmes sur le marché du travail, il est aussi crucial pour les jeunes. Et puis, il faut reconnaître, et c’est essentiel, le rôle des interlocuteurs sociaux, qui sont les seuls à véritablement connaître les besoins des travailleurs et les réalités du monde du travail, et par conséquent à pouvoir répondre à ces enjeux de formation.

     
       

     

      Axel Voss (PPE). – Herr Präsident, Herr Kommissar, liebe Kolleginnen und Kollegen! Wir können nicht wirklich geschockt sein über die Erkenntnisse aus dem Draghi-Bericht. Seit Jahren hören wir eigentlich das Klagen, und wir nehmen es irgendwie nicht wirklich ernst. Wann müssen wir eigentlich mal aufwachen, glaube ich?

    Die digitale Agenda gehört an die Spitze unserer ganzen Agenda, und das muss wirklich ganz oben stehen, um die Menschen hier auch mitzunehmen. Bei dem digitalen Wettbewerb brauchen wir: erstens eine Garantie für die Hochgeschwindigkeitsverbindungen, für eine robuste digitale Infrastruktur; zweitens eine klare Strategie für digital skills, die die Ressourcen auch entsprechend bündelt; drittens ein EU-Visa-Programm auch für die digitalen Talente in der Welt; viertens eine offene und einheitliche Datenbank für Einzelpersonen und Unternehmen, um Umschulungsmöglichkeiten und Trainingsprogramme zu finden; und fünftens sollten wir auch umsonst Onlinekurse anbieten, um Kompetenzen im digitalen Bereich auch auszubauen.

    Jedenfalls sollten wir diese Entwicklungen wirklich ernst nehmen, und wir können uns heute nicht ernsthaft darüber beschweren, dass jemand außerhalb der Europäischen Kommission oder außerhalb des Parlaments uns erzählt, was wir machen müssen; das sollte schon von uns selber kommen. Deshalb hoffe ich, dass wir diesen Weg jetzt auch endlich beschreiten.

     
       


     

      Esther Herranz García (PPE). – Señor presidente, señor comisario, cuando hablamos del déficit de capacidades de competitividad, solemos siempre centrarnos en sectores relacionados con el desarrollo informático o la economía 4.0. Sin embargo, hay un sector económico clave para nuestra autonomía estratégica y nuestra competitividad al que no se le suele prestar atención, como es el de la agricultura y la ganadería.

    En las últimas décadas ha habido una enorme evolución en el uso de las nuevas tecnologías y técnicas de precisión en el sector primario, que requieren formación específica y avanzada para que pueda exprimirse todo su potencial. En esta línea, quiero felicitar a la Comisión Europea por impulsar el Pacto por las Capacidades en el sector agroalimentario: sé que hay voluntad de seguir apoyándolo durante este mandato y así espero que sea. Es vital para el desarrollo del tejido económico de las áreas rurales y para incentivar el relevo generacional.

    Y en esa misma línea, quiero aprovechar, antes de terminar, para pedir que se impulse una visión de la agricultura como sector económico atractivo también en las etapas formativas obligatorias. La agricultura y la ganadería deben ser un elemento fundamental en nuestras estrategias de competitividad y, sin atraer a futuros profesionales, será extremadamente difícil conseguirlo.

     
       

     

      Marc Angel (S&D). – Mr President, dear all, closing the EU’s skills gap is a must for all transitions that our society, our workforce and our economy are facing now and in the future. When it comes to the climate and to digital transitions, we need to come back to a positive narrative – highlighting the opportunities, but of course also addressing fears and doubts.

    To close our skills gap, we also need a true single market of skills by facilitating the recognition of the competencies of our workforces between our Member States.

    I want to thank Commissioner Nicolas Schmit for the work already delivered with the European Years of Skills, individual learning accounts and the extension of the Erasmus+ mission. All this has improved access to vocational education and training for all, and we must continue on that path.

    If the new Commission wants to use ‘skills, skills, skills’ as a mantra, we must not forget that our citizens, our workforce, young and old, will only embrace this if lifelong learning and upskilling lead to better jobs, to quality jobs.

    Indeed, when we discuss skills, we have to address the social dimension of competitiveness and jobs, and cherish social dialogue.

     
       


     

      Annalisa Corrado (S&D). – Signor Presidente, onorevoli colleghi, stiamo navigando in acque in tempesta, con profondi cambiamenti in atto che dobbiamo governare. Quando soffia il vento del cambiamento, gli stolti costruiscono muri, i saggi mulini a vento.

    L’Europa, alla prova di questa sfida, deve saper costruire un sistema di formazione e ricerca inclusivo e integrato, che consenta di sviluppare competenze con uno sguardo sistemico e multidisciplinare a servizio del bene comune, a servizio della trasformazione ecologica e digitale delle nostre economie e società.

    Serve una particolare attenzione alle competenze tecnico scientifiche. Impossibile governare questo cambiamento senza politiche di inclusione e sostegno per i giovani; impossibile, senza liberare l’enorme potenziale delle donne che sono tenute lontane dalle discipline tecnico-scientifiche da una spaventosa e antistorica arretratezza culturale, che non ha alcuna ragione di esistere: parola di ingegnera meccanica.

    Colleghe, colleghi, a partire dal bilancio 2025 e per il quadro finanziario del prossimo settennato, servono risorse all’altezza di questa sfida.

     
       

     

      Bruno Gonçalves (S&D). – Senhor Presidente, Mario Draghi avisou‑nos de que a Europa está a ficar para trás – uma economia menos competitiva, pouco inovadora e dependente de importações. A resposta da direita é sempre a mesma: cortes indiscriminados de impostos em benefício sobretudo das grandes empresas multinacionais. Mas não é assim que nós conseguimos mudar o nosso rumo.

    Reduzir o diferencial para os Estados Unidos e para a China, mas também para as assimetrias internas da nossa União, desenvolvendo as economias periféricas, exige uma indústria a sério, que contribua para uma redução das emissões com mais energias renováveis, uma indústria limpa, sustentável, que ofereça bons empregos para todos, sejam mais ou menos qualificados.

    Uma revolução digital tem também de ser social. Para isso, não há melhor solução do que investir nas pessoas. Só assim podemos garantir que a Europa de hoje tenha mão de obra especializada que nos faz falta; e, mais importante do que isso, que no futuro ninguém fica para trás. Ou esta é uma socialmente justa transição ou corre o risco de nunca ver a luz do dia.

     
       

       

    Catch-the-eye procedure

     
       

     

      Hélder Sousa Silva (PPE). – Senhor Presidente, Caro Comissário, Caros Colegas, o relatório de Draghi é bem claro: sem trabalhadores qualificados, o nosso futuro está claramente em risco. Hoje, as competências vão muito além da matemática e da gramática, é preciso dominar o digital e dominar também áreas transversais, como a sustentabilidade e a criatividade.

    Aqui, o Erasmus+ é verdadeiramente um aliado e este programa é muito mais do que mobilidade, é uma ponte entre a educação e o mercado de trabalho. Por isso, os cortes propostos pelo Conselho para o programa Erasmus+ são um erro estratégico e são verdadeiramente inaceitáveis. Daí que o Parlamento – e bem – proponha um reforço, para o ano de 2025, de cerca de 70 milhões de EUR.

    Agora, é tempo de agir, fortalecendo a competitividade, através do reforço da formação na nossa União.

     
       

       

    PRESIDENZA: PINA PICIERNO
    Vicepresidente

     
       


     

      Nina Carberry (PPE). – Madam President, Commissioner, the greatest asset that Europe has is its people. Since its inception, the European Union has funded and driven the development of its people through education, skills and apprenticeships.

    But if we are to compete on a global scale, we need to break down the barriers that are causing the skills gap in Europe. Housing, infrastructure, red tape, the cost of living – things that are not just unique to Ireland – are the main barriers. And while our urban areas are very attractive for our young skilled workforce, we need a more comprehensive plan for our rural areas. In my constituency, in the Midlands–North-West in Ireland, young people often see Dublin and other urban areas as their only option for work and education.

    The EU needs to be at the forefront of solving these problems with a comprehensive plan for the development of rural areas. We need to show young people that their future can be at home, that they can innovate and thrive, not tens of thousands of miles away, but right here in the European Union.

     
       


     

      Tomislav Sokol (PPE). – Poštovana predsjedavajuća, države članice, sve se više susreću s problemom nedostatka radne snage, a 54 % poduzetnika ističe da je žurno potrebno riješiti ovaj problem.

    U Draghijevom izvješću ispravno je primijećeno da su uzroci manjka radne snage neusklađenost obrazovnih sustava s potrebama tržišta rada, sve manji broj radno aktivnog stanovništva, ali i loši radni uvjeti gdje svakako spadaju i nekonkurentne plaće. Nedostatak kvalificirane radne snage i dalje je najvažniji ograničavajući čimbenik proizvodnje i sprečava jačanje europske konkurentnosti, a posebno ovim problemom pogođen je sektor turizma. Pored toga, nedostatak medicinskog osoblja, među kojima liječnika, medicinskih sestara i primalja, odavno je poznat i bitno utječe na kvalitetu pružanja zdravstvene skrbi pacijentima. Međutim, uvoz nisko kvalificirane radne snage iz trećih država nije dugoročno rješenje za ovaj problem. Zato odobravanju radnih dozvola ne smijemo olako pristupati. Stoga je važno kontinuirano raditi na poboljšanju radnih uvjeta, prilagođavanju obrazovnih programa potrebama tržišta rada, posebno u STEM području, te oblikovanju programa prekvalifikacija.

    Kolegice i kolege, neograničen uvoz radne snage dugoročno je neodrživ. Zato EU mora hitno djelovati na više razina. Očekujem stoga da nova Komisija u prvih 100 dana predstavi Akcijski plan za rješavanje pitanja nedostatka radne snage.

     
       

     

      Maria Grapini (S&D). – Doamnă președintă, domnule comisar, nu discutăm un subiect nou. De foarte mult timp constatăm că avem decalaje de competențe în Uniunea Europeană. Problema este, domnule comisar, dacă găsiți metodele bune, dacă se aplică. Avem multe programe: de reconversie, programe pentru competențe, mecanisme de ajustare, dar care este rezultatul? Vedem că nu reușim să eliminăm acest decalaj de competență. De ce?

    Educația trebuie suprapusă peste cerințele economiei. Avem o strategie acum de reindustrializare. De ce competențe avem nevoie? N-avem nevoie numai de diplome, avem nevoie de personal calificat. IMM-urile – 4 din 5 – nu-și găsesc oameni calificați. Nici celelalte companii n-au curajul să investească pentru că nu au personal calificat. De aceea, domnule comisar, sper ca noua Comisie să gândească când investește dacă are și un rezultat al investiției, și anume să eliminăm acest decalaj de competențe din Uniunea Europeană și între statele membre, dar și în raport cu piața globală.

     
       

     

      Branislav Ondruš (NI). – Vážená pani predsedajúca, dámy a páni, pri investíciách, aby znalosti a zručnosti pracujúcich zodpovedali technológiám či novým pracovným postupom, musíme dávať dôraz na to, aby z toho nemali prospech len firmy. U nás posilňujeme minimálnu mzdu, aby rástli aj tie ostatné, lebo zamestnávatelia si stále málo uvedomujú, že lepší zárobok a lepšie pracovné podmienky sú kľúčovou motiváciou pre celoživotné vzdelávanie. Ak nemajú ľudia zarábať viac, prečo by mali získavať nové znalosti a zručnosti len preto, lebo firmy, pre ktoré pracujú, budú konkurencieschopné? Lenže konkurencieschopnosť firiem, dámy a páni, má význam, iba ak sa prejaví aj na lepších pracovných podmienkach a vyšších platoch zamestnancov, nielen na ziskoch korporácií. Na Slovensku vytvárame systém individuálnych účtov, ktoré budú ľuďom poskytovať financie na vzdelávacie kurzy. Chcem presadiť, aby zamestnanci absolvovali vzdelávanie výlučne v pracovnom čase, a teda aby za čas strávený v kurze im firmy dali mzdu. Keďže kurzy zaplatíme z daní ľudí, považujem za férové, aby firmy prispeli aspoň takto.

     
       

     

      Grzegorz Braun (NI). – Madam President, ladies and gentlemen, this is no crisis. This is the result of your socialist policies. Just like famous and notorious socialist leaders Hitler, Stalin, Roosevelt had their plans – five-year plans, four-year plans, New Deal – so you have your Green Deal, Blue Deal, your migration pacts and so on and so on.

    You just can’t stop designing people’s future, stop messing around with our lives and our property. You don’t understand that you’re the main obstacle. While the other nations are conquering space, you’re changing bottle caps.

    This is the dimension of your ability. So please stop. The European Union has to be overthrown because the only dimension in which you could and you should be active is stability and security. The majority of you here are warmongers. So, the European Union, the Euro cohorts, should be overthrown.

     
       

     

      Milan Mazurek (NI). – Vážená pani predsedajúca, pomaly každý deň tu hovoríme stále o tom istom. Európska únia zaostáva, naše štáty sa prepadajú do chudoby. mladí ľudia si nie sú schopní zadovážiť normálne dostupné bývanie, pretože ceny nehnuteľností sú extrémne vysoké. Ale s čím máte, kolegovia, najväčší problém, je pomenovať vinníka tohto stavu. Ten vinník ste práve vy, ktorí hlasujete za väčšinu týchto nezmyselných európskych politík. Vinníkom sú ľudia, ktorí podporili v tomto pléne greend deal, ktorý obmedzuje životy ľudí na tej najzákladnejšej bazálnej úrovni. Vy zavádzate emisné povolenky pre domácnosti, vy predražuje palivá, vy spôsobujete vašimi ekonomickými sankciami, že život v Európe sa jednoducho prepadáva k stále horším a horším atribútom. Potom sa divíte, že Čína, Amerika, Rusko Európskej únii unikajú? Vy jednoducho potrebujete prestať s týmito nezmyselnými plánmi a nechať ľudí žiť normálne slobodne prosperovať a vyvíjať sa tak, ako to bolo v Európe odveky, keď Európa bola práve nositeľom inovácií vo svete. Toto plénum, Európska komisia a Európska rada sú kľúčovým dôvodom, prečo sa dnes takýmto spôsobom prepadáme.

     
       

       

    (Fine della procedura “catch the eye”)

     
       

     

      Janusz Wojciechowski, Member of the Commission. – Madam President, honourable Members, thank you very much for all contributions in this very interesting, inspiring debate. Particularly, as Commissioner for Agriculture, I’d like to thank those speakers who mentioned the importance of skills and education in agriculture. The modern agriculture requires high skills. Education and multidisciplinary knowledge is needed in this difficult job.

    There was in many speeches the question to compare development between the European Union and the United States. Maybe this is a good opportunity to mention that, in agriculture, despite having two times less agricultural land and having 12 times smaller farms in the European Union, the value of agricultural production is higher in the EU than in the US.

    We have also a very positive trade balance with United States, because the value of exports is about EUR 28 billion and imports about EUR 11 billion.

    Thank you again for the discussion. Adapting skills policy to the changing society and the changing labour market is, by definition, a continuous process. The European Year of Skills has left an important legacy. This legacy is reflected in the political guidelines of President von der Leyen, committing to the establishment of a Union of Skills in her next mandate. Europe needs this overarching political strategy to close the skills gap, to strengthen our competitiveness and social well-being.

     
       

     

      Presidente. – La discussione è chiusa.

     

    4. Abuse of new technologies to manipulate and radicalise young people through hate speech and antidemocratic discourse (debate)


     

      Janusz Wojciechowski, Member of the Commission. – Madam President, honourable Members, respect for human dignity and fundamental rights, including equality, are founding values of the Union.

    Hate speech, inciting violence and hatred on the grounds of race, colour, religion or ethnic origin is illegal in the EU also when it happens online. Hate waves starting online lead to polarisation and radicalisation and many turn into violent attacks.

    We have seen that new technologies are abused to foster anti-democratic views. Young people are particularly targeted and exposed. We must help young people become more resilient to extreme views. For them and for our democracies, as youngsters are the citizens of tomorrow.

    The EU horizontal framework to create a safer online space is the Digital Services Act (DSA). Under the DSA, online platforms have to set up new and user-friendly mechanisms to flag illegal content, and they must better explain their content moderation decisions. They are also obliged to promptly inform law enforcement or judicial authorities of any suspicion of a criminal offence involving a threat to the life or safety of a person.

    The major platforms like TikTok, Instagram, Facebook, Snapchat or YouTube need to identify and assess any systemic risk their services may pose. They need to ensure that illegal contact content does not go viral easily, and adapt their algorithms to protect minors.

    During the last six months, the Commission has opened investigations against TikTok, Meta and Instagram related to the protection of minors. The industry has committed to a voluntary code of conduct on countering illegal hate speech. Signatories must swiftly review hate speech noticed within 24 hours and swiftly remove illegal content. An updated version of this code is in the process of being integrated in the Digital Services Act, thus becoming part of its risk mitigation approach.

    The response of hate speech needs to involve citizens at large. We made this clear in the Commission communication of December last year on combating hate. In June, the Commission organised a European Citizens’ Panel on tackling hatred in society and focusing on digital threats. It showed that dialogue can overcome polarisation. The Commission is committed to following up on the citizens’ recommendations.

    In the fight against disinformation, the EU supports the European Digital Media Observatory. Independent fact-checkers, researchers and media literacy experts detect, analyse and expose potential disinformation threats. A wide network of trusted vloggers are already active in identifying illegal hate speech. They will soon benefit from the trusted flagger mechanism in the DSA.

    In the fight against hate and disinformation, it is also crucial to promote transparency, democratic accountability, pluralism and free and vibrant democratic debates. Last year, to support young citizens in the exercise of their electoral rights, the Commission adopted recommendations to Member States. This led to the signature of a joint code of conduct by European political parties ahead of the recent European Parliament elections. Your parties agreed to encourage inclusive political discourse and committed to refrain from disseminating content that incites violence or hate speech.

    Young people constitute a vulnerable group which can be exploited through the misuse of political advertising. With the new Political Advertising Regulation, it will not be possible to target political ads to young people at least one year under the voting age. Education plays a vital role in equipping all young people with the competencies to think critically about the content and discourse they encounter online and to actively combat efforts to radicalise and divide.

    Democratic citizenship education should equip all citizens with specific competencies to build their resilience against disinformation. Digital literacy is a key prerequisite for informed, confident and empowered digital citizens. The digital education action plan frames the commitment to implementing high-quality and inclusive digital education.

    Honourable Members, radicalisation is a complex process. It starts when somebody embraces an ideology or belief that accepts violence to reach a political or ideological goal. Artificial intelligence is increasingly being used for the dissemination of violent and terrorist content online that can lead to radicalisation.

    To counter that, the Commission has taken a number of important actions. This year we launched the EU Knowledge Hub for Prevention of Radicalisation to support Member States in preventing violent extremism at national level. Terrorists and violent extremists misuse the internet to spread their message to intimidate, radicalise, recruit and facilitate their actions.

    The European Union Internet Forum brings together tech companies, Member States, law enforcement agencies, civil society organisations and academia. Together, they develop concrete actions to address violent extremism and terrorist content online.

    In 2021, we adopted a regulation allowing Member States to issue removal orders of terrorist content to online service providers to be acted upon within 24 hours. So far, more than 1 100 removal orders were already issued.

    Looking after the well-being of younger people and children is a duty that we all have. We need to support them and give them the means they need to stand strong in the face of polarisation and not to fall prey to radicalisation. We need to understand the broader impacts of social media on them, and it is with this in mind that President von der Leyen announced an EU-wide inquiry on this topic in her political guidelines.

    I look forward to listening to your views in this multidimensional challenge.

     
       

     

      Lídia Pereira, em nome do Grupo PPE. – Senhora Presidente, o discurso do ódio online pode ser virtual, mas as consequências são bem reais. Há estudos que mostram que, em países como Portugal, um em cada dez jovens é vítima deste tipo de violência – um círculo vicioso que se perpetua, com vítimas a tornarem‑se agressores, e que vai afetando gerações. Embora as ofensas sejam virtuais, elas, de facto, têm impacto nas vidas reais; e a história de Nicole Fox, Coco, é um exemplo duro, como o PPE bem demonstrou numa campanha recente.

    No entanto, homens e mulheres sofrem de forma diferente com este fenómeno. Em Portugal, um grupo de Telegram onde 70 000 participantes, pessoas, devassam a intimidade das mulheres e, em alguns casos, de familiares. Este caso merece a nossa condenação e consternação. Seja a participação, a presença ou a própria existência desse grupo merecem o nosso repúdio. Este é um exemplo de um caso, e permitam‑me utilizar a palavra, de um caso nojento e inaceitável, cuja resposta só pode ser uma: meios para investigação e mão pesada nas penas.

    Mas, este combate não pode transformar‑se numa censura digital. Não podemos, sequer, cair na tentação de privatizar a responsabilidade pela gestão do discurso público digital, ao responsabilizar apenas as plataformas digitais. Isso representaria uma censura privada. Precisamos de maior capacitação judicial, maior colaboração com as plataformas digitais, maior consciencialização dos utilizadores – especialmente dos mais jovens – na utilização e nos riscos das redes sociais.

    O buraco negro do mundo digital cresce. O respeito entre homens e mulheres alicerça a convivência, a concórdia e a harmonia em sociedade, e esse, sim, tem de ser real.

     
       

     

      Alex Agius Saliba, on behalf of the S&D Group. – Madam President, what is illegal offline should be illegal online. Tech firms often use every dirty trick that they can think of to maximise their profits and keep their audience hooked through sensationalist and harmful content. Unfortunately, violent extremists are using the same tricks, and with predatory algorithms, troll farms and bots spewing misinformation and disinformation, catchy memes and short clips are finding ways to recruit, socialise and target young people that are particularly vulnerable to online propaganda, hate speech and violent content.

    The problem is not a new one, yet for many years we have treated the web as the digital Wild West, where everything was allowed. To change this, we must ensure that companies running social media platforms are not exploitative and do not cause harm, and that they keep their services safe and free from hate speech, misinformation and malicious algorithmic activities. To this end, we need to properly enforce the legislation already in place, demand results and impose larger sanctions on tech giants that fall short.

    Second, we need media and digital competences enshrined to all educational levels and for all generations. This will help young people, in particular, to develop critical‑thinking skills and build resilience to violent, extremist and terrorist content online. Young people need to know their rights, distinguish facts from opinions, understand how societies work and should work, the value of privacy and the protection of their personal data, and how technologies and social media can be manipulated, and how to safeguard themselves against it.

    Last but not least, we need to address the root causes of radicalisation, since there is no single cause or pathway into radicalisation and violent extremism. The digital technologies might be a facilitator, but they are rarely the cause. Radicalisation doesn’t happen overnight and, as a community, we all have a crucial role to play in ensuring our young people remain safe.

     
       

     

      Jorge Buxadé Villalba, en nombre del Grupo PfE. – Señora presidente, jamás en la historia de Occidente el ser humano ha sido sometido a este nivel de censura y tortura intelectual, convirtiendo al criminal en víctima y a la víctima en criminal.

    Publicar un tuit preguntando cuál es la nacionalidad del último asesino o violador en Barcelona no es un crimen; no es un crimen denunciar que las mujeres han perdido 900 medallas en competiciones deportivas porque hombres que dicen ser mujeres les han arrebatado los triunfos injustamente; no es un crimen publicar que tu novia se siente insegura desde que el presidente de turno de tu región decidió abrir un centro de inmigrantes ilegales en tu barrio; no es un crimen denunciar los asesinatos masivos de inocentes por parte de comunistas en Paracuellos o en Katyn; no es un crimen publicar la foto de un feto triturado en una clínica abortista; no es un crimen contar que España civilizó a América, acabó con el canibalismo y construyó hospitales, templos y universidades.

    Pero sí es un crimen introducir algoritmos para dirigir al usuario hacia los mensajes que los millonarios quieren que veas en Telegram o en Facebook; bloquear y suspender la cuenta de Donald Trump; ofrecer a Elon Musk —como hizo la Comisión Europea— un acuerdo secreto e ilegal para censurar el discurso político a cambio de no ser multado; detener a decenas de británicos por convocar en redes sociales manifestaciones contra la inseguridad y la inmigración ilegal; utilizar el Centro para Contrarrestar el Odio Digital del Reino Unido para matar la red social de Elon Musk; o, como está haciendo Kamala Harris, pagar a falsos verificadores de noticias para desinformar y cancelar.

    Así que, jóvenes, seguid haciéndolo: contad lo que vivís, denunciad a los responsables y sentíos libres para expresar lo que os dé la puñetera gana. La libertad de expresión es la libertad de los patriotas.

     
       

     

      Piotr Müller, w imieniu grupy ECR. – Pani Przewodnicząca! Nie ma wątpliwości co do tego, że powinniśmy zajmować się ochroną przed treściami, które mogą być szkodliwe, przed treściami, które mogą wpływać źle na społeczeństwo, a w szczególności na wychowanie dzieci.

    Natomiast w tej Izbie i również w Komisji Europejskiej ten temat jest wykorzystywany bardzo często do tego, aby podjąć kroki idące o wiele dalej. Kroki, które powodują, że ogranicza się możliwość swobody wypowiedzi. Kroki, które powodują, że wprowadza się prewencyjną cenzurę. Wreszcie kroki, które powodują, że pada propozycja wycofania się z możliwości szyfrowania danych, szyfrowania komunikacji w takich komunikatorach jak Signal, WhatsApp, Messenger i tak dalej.

    Komisja Europejska ostatnio przedstawiła jeden z projektów, który zakłada między innymi właśnie likwidację szyfrowanej komunikacji i prewencyjne skanowanie treści obywateli. Szanowni państwo, to jest chyba wersja chińskiego internetu, a nie europejskiego!

    Ja od Komisji Europejskiej domagam się jasnej deklaracji, że projekt Chat Control pod kątem likwidacji szyfrowania zostanie wycofany. To jest pierwsza rzecz. I domagam się wreszcie odpowiedzi na pytanie, czy proponowaliście nielegalne porozumienia pod adresem X, pod adresem Elona Muska?

     
       

     

      Laurence Farreng, au nom du groupe Renew. – Madame la Présidente, Monsieur le Commissaire, depuis peu la propagande néonazie est devenue cool. Ça s’appelle le «pop fascisme», ça fait florès sur les réseaux sociaux, c’est du prêt-à-penser pour les jeunes. Il y a quelques semaines, j’ai été profondément choquée en découvrant un clip et un jeu vidéo sur le thème de la remigration créé par la branche jeunesse de l’AfD, parti allemand d’extrême droite dont quatorze députés siègent ici, dans ce Parlement. C’est pourquoi j’ai demandé ce débat. Les images, créées par intelligence artificielle, utilisent tous les codes de la propagande nazie. On y voit des personnes blanches, blondes, aryennes, qui dansent sur de la musique techno en refoulant dans des avions des personnes racisées. Le refrain? «Nous les renvoyons tous!» C’est intolérable.

    Si les œuvres racistes envahissent l’internet, je note ici une escalade, parce que ce clip et ce jeu vidéo ont été créés par un parti politique – l’AfD. On peut certes s’abriter derrière les législations. Oui, nous avons le règlement sur les services numériques pour rendre les plateformes responsables des contenus qu’elles hébergent – et notamment TikTok, quand on s’adresse aux jeunes. Oui, il faut rendre ces plateformes responsables, mais, à ma connaissance, cette vidéo circule toujours sur X.

    Alors qu’en France, par exemple, un jeune sur cinq ne sait pas ce qu’est la Shoah, il faut aller plus loin et condamner effectivement tous les contenus racistes, en commençant par sanctionner les ennemis de la démocratie qui sont déjà parmi nous.

     
       


     

      Pernando Barrena Arza, en nombre del Grupo The Left. – Señora presidenta, como todo cambio disruptivo, las enormes ventajas derivadas de la utilización de las nuevas tecnologías también tienen otra cara, en este caso proporcionada por la deshumanización que permite el anonimato. El crecimiento de las posiciones de ultraderecha tiene mucho que ver con la manipulación online para difundir mensajes de odio y antidemocráticos, desde los deepfakes a la mera difusión masiva de información falsa y difamante: todo vale. Y hasta las nuevas mayorías en este Parlamento tienen mucho que ver con la utilización de esos recursos oscuros. Creo que ustedes ya me entienden.

    Es especialmente grave que las plataformas que permiten este comportamiento estén en manos de magnates que las explotan en clave pura y dura de negocio. Son cuentas empresariales que no tienen ningún interés ni responsabilidad social y a quienes no interesan ni la veracidad ni el interés público.

    Existe una necesidad de nuevas plataformas, nuevas herramientas moderadas en contenidos veraces y legítimos, por encima de la rentabilidad y de la cuenta de resultados, que prioricen el interés público. No hay iniciativa privada que asegure el interés público; esto solo puede ser garantizado desde el ámbito público y, por lo tanto, emplazamos a la próxima Comisión a que nos haga llegar una reflexión sobre cómo desde ese ámbito público europeo se pueden crear nuevas plataformas que superen el modelo de negocio actual y garanticen la utilidad pública.

     
       

     

      Petras Gražulis, ESN frakcijos vardu. – Sveiki, esu paskutinis Sovietų Sąjungos politinis kalinys. Dėl to, kad kovojau prieš komunizmą, prieš šią ideologiją, buvau sovietiniuose lageriuose kalinamas. Šiandien, atgavus nepriklausomybę Lietuvai, ir vėl matosi kuriama nauja ideologija – genderistinė ideologija, baisesnė už komunistinę ideologiją. Ir tie, kurie gina krikščioniškas vertybes, pasisako prieš genderizmą, jie yra persekiojami Europos Sąjungos, jie yra teisiami. Neduok Dieve, „Facebook’e“ ar socialiniame tinkle išsakysi savo krikščionišką poziciją, kad tai yra nusikaltimas, homoseksualizmas. Tu būsi teisiamas. Ir man Lietuvoje iškelta byla, kad skaičiau apaštalo Pauliaus laišką romiečiams. Kur mes einame? Ta pati diktatūra, sukurta Europoje, tik ne komunizmo, o kažkokio genderizmo ir prisidengiant žmogaus teisių pagrindu. Mes einame, Europa, į susinaikinimą. Kadangi atsisakome savo vertybių, priimame kažkokią tai iškrypusią ideologiją. Kai atėjo galas Sovietų Sąjungai, ateis galas ir Europos Sąjungai, jeigu ji nekeis savo ideologijos ir nedraus žodžio laisvo, o krikščionims išpažinti ir reikšti savo tikėjimą.

     
       

     

      Ελεονώρα Μελέτη (PPE). – Κυρία Πρόεδρε, αγαπητοί συνάδελφοι, στη χώρα μου, την Ελλάδα, πρόσφατα, μια ομάδα ανήλικων κοριτσιών οργάνωσαν μέσω διαδικτυακής πλατφόρμας τον ξυλοδαρμό μιας συμμαθήτριάς τους. Τα ηχητικά μηνύματα και το οπτικό υλικό που είδαν το φως της δημοσιότητας ήταν σοκαριστικά. Το βίντεο του ξυλοδαρμού έγινε viral. Το κορίτσι κατέληξε στο νοσοκομείο και οι φίλοι της παρακίνησαν τον κόσμο σε εκδίκηση μέσω ρητορικής μίσους, δημοσιοποιώντας στα μέσα κοινωνικής δικτύωσης τα στοιχεία των δραστών. Στο Βέλγιο ένας άνδρας αυτοκτόνησε γιατί εικονικός συνομιλητής, προϊόν τεχνητής νοημοσύνης, τον έπεισε να θυσιάσει τη ζωή του για να σταματήσει η κλιματική αλλαγή. Σε πολλά κράτη μέλη οι ίδιες οι πλατφόρμες χρησιμοποιούνται για να πολώσουν και να στρατολογήσουν νέους για τρομοκρατικές επιθέσεις.

    Είναι ξεκάθαρο πως οι νέες τεχνολογίες αποτελούν πλέον ένα νέο κανάλι διάδοσης εξτρεμιστικών απόψεων και στρατολόγησης ατόμων σε εγκληματικές πράξεις. Η Ευρώπη πρέπει να αντιδράσει και να δράσει. Έχει γίνει μια καλή αρχή με τους κανόνες που περιγράφονται στην πράξη για τις ψηφιακές υπηρεσίες. Χρειάζεται όμως και άλλη πίεση. Οφείλουμε να ποινικοποιήσουμε τη ρητορική μίσους. Χρειάζεται η ανωνυμία του διαδικτύου να αίρεται όταν αυτό είναι απαραίτητο. Πρέπει να βρεθεί ένας τρόπος να δαμάσουμε τη σκοτεινή πλευρά της τεχνητής νοημοσύνης. Είναι ανάγκη να ελέγχεται η πρόσβαση των παιδιών στο διαδίκτυο και να απαγορεύεται ρητά σε συγκεκριμένες παιδικές ηλικίες για το καλό όλων μας. Στη χώρα μου, η κυβέρνησή μας έχει ήδη ενσωματώσει την πράξη για τις ψηφιακές υπηρεσίες. Η Επιτροπή όμως οφείλει να ελέγχει την ενσωμάτωση του κανόνα σε όλα τα κράτη μέλη.

    Οι νέες τεχνολογίες έχουν να προσφέρουν πολλά καλά στην ανθρωπότητα, αλλά αυταπόδεικτα μπορούν να μετατραπούν σε σκληρά όπλα, ικανά να προάγουν τον τρόμο, το ψέμα, το φόβο, το μίσος, τη βία. Είναι στο χέρι μας αυτό να αλλάξει.

     
       

     

      Sabrina Repp (S&D). – Frau Präsidentin! Neue Technologien bieten große Chancen: Sie eröffnen den Zugang zu einer Welt des Wissens und der Vernetzung. Doch es gibt auch eine Kehrseite: Die Macht der großen digitalen Plattformen ist mittlerweile überdimensional gewachsen. Es beunruhigt mich, dass wir uns auf die moralischen Vorstellungen der wenigen Milliardäre verlassen, die diese Plattformen kontrollieren. Wir sollten uns nicht von der Tageslaune eines Elon Musk, eines Mark Zuckerbergs oder gar eines Wladimir Putins abhängig machen.

    Der Einfluss dieser Plattformen auf unsere Demokratie ist unübersehbar. Der Brexit war nur ein Vorgeschmack dessen, was passieren kann, wenn Algorithmen entscheiden, welche Inhalte wir sehen. Je radikaler der Inhalt, desto mehr Klicks bekommt er. Und das Ergebnis: eine verzerrte Realität, in der Angst, Hass und Misstrauen gegenüber unseren demokratischen Institutionen genährt wird. Das machen sich auch Abgeordnete der AfD hier aus dem Europäischen Parlament zu eigen: Wenn sie beispielsweise auf TikTok eine klare Abneigung gegenüber Immigration, Islam oder queeren Rechten zeigen, werden häufig Fake News und Hassreden verbreitet.

    Besonders betroffen von diesen Entwicklungen sind junge Menschen. Oft fehlt das Bewusstsein, um zwischen wahrer Information und gezielter Desinformation zu unterscheiden. Die psychologischen und emotionalen Auswirkungen von Hassrede und Hetze auf Jugendliche sind enorm; sie gefährden ihr Vertrauen in die Gesellschaft, in die Demokratie und in ihre Zukunft. Auch das sehen wir beim Wahlverhalten junger Menschen bei den Ost-Landtagswahlen in Deutschland: In Thüringen setzten laut der Forschungsgruppe Wahlen 35 % der Menschen zwischen 18 und 29 Jahren ihr Kreuz bei der AfD.

    Wir müssen digitale Plattformen daher stärker in die Pflicht nehmen. Es braucht klare Regeln und effektive Mechanismen, um hasserfüllte und antidemokratische Inhalte schnell zu erkennen und zu entfernen. Zudem müssen wir zivilgesellschaftliche Organisationen, die gegen eine solche Radikalisierung kämpfen, stärker unterstützen und gemeinsam Hassrede und Fake News entgegentreten.

    Das Internet soll ein Ort des Wissens und des Miteinanders bleiben und kein Raum, der unsere Demokratie untergräbt.

     
       


     

      Ивайло Вълчев (ECR). – Уважаеми колеги, безспорно трябва да се борим срещу радикализацията в интернет, но аз бих казал, че трябва да осъждаме всяка една дискриминация и радикализация.

    Да, расизмът и ксенофобията са недопустими, но нека със същия плам да осъждаме и радикалните действия на зелени активисти, които застрашават обществения ред и сигурността. Заливането на културно наследство с боя, блокирането на пътища и летища не могат да бъдат приемливи форми на протест. А твърде често виждаме как те биват нормализирани.

    От друга страна, скъпи колеги, технологиите сами по себе си не могат да бъдат винени за процеса на радикализация на младите там, където това се случва. Общественият дебат в последните десетилетия прие твърде рязък идеологически завой наляво. Това означава, че днес политически позиции, например срещу еднополовите бракове или срещу нелегалната миграция, oт допустими в обществения дебат преди години сега се обявяват за радикални. И ако това имате предвид под антидемократични изказвания, то аз ви поздравявам. Джордж Оруел би се гордял с вашия новговор.

     
       

     

      Христо Петров (Renew). – Уважаеми колеги, ние тук си говорим за нови технологии и за социални мрежи и казваме, че те са част от живота на младите хора, но за много млади хора социалните мрежи не са част, те са целият им живот и това е проблем. Проблем е, защото освен загубата на време, човек става много по-лесно жертва на пропаганда, на радикализация или проводник на реч на омразата.

    Замислете се колко от вас в тази зала, ако имаха шанса да се върнат в своето детство или в своята младост, биха прекарвали времето си в социалните мрежи. Аз вярвам, че решението на проблема, който обсъждаме, е в образованието, в образование, което да подготвя младите хора за съвременната реалност и да им обясни една проста истина, че няма нито един успешен човек на тоя свят, който да прекарва основното си време в социалните мрежи.

     
       

     

      Alexandra Geese (Verts/ALE). – Frau Präsidentin, Herr Kommissar, sehr verehrte Kolleginnen und Kollegen! Nazipropaganda, rechtsextreme Hetze, Hass auf Frauen oder extremistischer Salafismus: auf TikTok findet man das alles. Aber welcher junge Mensch sucht denn aktiv nach solchen Inhalten? Fast niemand. TikTok sorgt dafür, dass sie sie trotzdem sehen, denn die Plattform spült grenzwertige Videos in die Timeline. Und wer aus Neugier oder sogar Entsetzen den Fehler macht, sie bis zu Ende zu schauen oder gar zu kommentieren, vielleicht auch kritisch, der bekommt immer wieder den gleichen Content vorgesetzt und landet in einem rabbit hole.

    Und wenn man überlegt, dass im Durchschnitt Nutzer 1,5 Stunden am Tag auf TikTok verbringen, dann kann man sich vorstellen, was passiert, wenn jedes zweite oder dritte Video extremistisch ist: Dann entsteht ein Weltbild, das mit der realen Welt praktisch nichts mehr zu tun hat. Und so werden Menschen radikalisiert – islamistisch, rechtsradikal, antisemitisch oder frauenfeindlich.

    Mit Technologie hat das nichts zu tun, aber ganz viel mit Geschäftsmodell. Aber glücklicherweise können wir handeln. Mit dem Digital Services Act können wir diese Radikalisierungsalgorithmen so ändern, dass Nutzerinnen und Nutzer ihre Inhalte selbst auswählen können und dass sie ihnen nicht vorgesetzt werden. Und das ist jetzt unsere dringlichste Aufgabe, um die Demokratie, aber auch die Sicherheit unserer Bürgerinnen und Bürger in Europa zu schützen.

    (Die Rednerin ist damit einverstanden, auf eine Frage nach dem Verfahren der „blauen Karte“ zu antworten.)

     
       

     

      Sebastian Tynkkynen (ECR), sinisen kortin kysymys. – Arvoisa puhemies, olen puhujan kanssa aivan samaa mieltä siitä, että natsipropagandaan pitää puuttua. Se on väärin, ja olitte huolissanne siitä, kuinka se lisää antisemitismiä. Minä ihmettelen sitä, että te kuitenkin jätätte sen puolen mainitsematta, mikä on tällä hetkellä suurin syy antisemitismiin niin TikTokissa kuin muissa kanavissa. Nämä videot, joissa huudetaan, että “From the river to the sea”, eli Hamas-symppaaminen, se leviää tällä hetkellä. Miksi jätitte tämän asian mainitsematta?

     
       

     

      Alexandra Geese (Verts/ALE), blue-card answer. – You might have noticed from my speech, I am German and I know that the biggest source of antisemitism has not come from Palestine, but from Europe. I have studied my history.

    As far as current antisemitism is concerned, I don’t care what the source is. I don’t care if it’s far right, you know, or whether it is Muslim. It’s not important. The important thing is that we combat it and that we protect Jews. This is what we need to do on the internet and that means going against terrorist or clearly illegal content.

    But as far as legal content is concerned – and a lot of content is legal – having opinions about the way Israel is defending itself, that is legal if it’s not antisemitic. And this is where we need to change the algorithms to make sure that people access content they actually want to see and not the content that TikTok, that the platform, wants them to see, pushing them into a rabbit hole, because this is what drives radicalisation.

     
       

     

      Ivan David (ESN). – Paní předsedající, dámy a pánové, od doby, kdy se po celém dříve demokratickém světě zmocnili všech nejvýznamnějších médií miliardáři, aby manipulovali veřejností, jsou jedinou šancí demokracie, tedy vlády lidu, sociální sítě a internet. Do konce minulého století byli světovládní darebáci v klidu, protože nebylo možné veřejně se bránit pomluvám a jiným lžím. Chápu, že hluboký stát nese nelibě omezení svého monopolu na ovládání veřejného mínění.

    Ale důrazně připomínám článek 17 Listiny základních práv a svobod, který zní: „Každý má právo vyjadřovat své názory, jakož i svobodně vyhledávat, přijímat a rozšiřovat ideje a informace bez ohledu na hranice státu. Cenzura je nepřípustná.“ Je marné zakazovat nenávist, kterou vyvolávají zločiny.

     
       

     

      Milan Mazurek (NI). – Vážený pán predsedajúci, pán komisár, aj Mao Ce-tung a súdruh Stalin by boli hrdí na to, čo ste tu vo svojom prejave povedali. Veď to je príšerné, do akej totality sa Európska únia pod vaším vedením aktuálne uberá! Viete, kto sú skutoční extrémisti? Tí, ktorí tu nariadili ľuďom žiť pod nezmyselným green dealom, ktorý im ničí ich životnú úroveň, vďaka ktorej si normálni mladí ľudia nemôžu kúpiť ani len nový dom, v ktorom by zakladali svoje rodiny. Extrémisti sú tí blázni, ktorí sa lepia o chodníky a asfalty, aby bránili ľuďom, aby mohli autami prísť normálne domov. Extrémisti sú tí, ktorí do Európy vozia milióny nelegálnych imigrantov a pomáhajú im v rozpore so zákonom prekračovať hranice našich štátov. To sú skutoční extrémisti, nie vlastenci, nie patrioti, nie tí, ktorí milujú svoje štáty. Tí, ktorí milujú svoje krajiny, ktorí chcú chrániť svoje deti a svoje rodiny pred nebezpečenstvom, ktoré im aktuálne hrozí. My chceme zachovať svet a Európu slobodnú, a preto sa potrebujeme zbaviť ľudí, ako ste Vy, vo vedení Európskej komisie. Potrebujeme návrat k zdravému rozumu, a keď to pre Vás bude znamenať radikalizmus, tak sa k tomu hrdo hlásim, pretože sloboda je to, čo Európska únia aktuálne potrebuje.

     
       


     

      Zoltán Tarr (PPE). – Tisztelt Elnök Asszony! Kedves kollégák és kedves fiatalok, akik nagyon sokan ültök fönt a lelátókon. Örülünk, hogy itt vagytok. Én azt gondolom, hogy sokan egyetérthetünk abban, hogy nagyon sok jó lehetőséget kínálnak nekünk az új digitális technológiák, az új technológiák. Nem is szeretném démonizálni őket. Ugyanakkor azt is tudjuk, hogy ezek az eszközök sokszor a politikai manipulációra és radikalizálódásra használódnak a fiatalok között, tovább súlyosbítva az álhírek terjedésével és az összeesküvés-elméletek terjedésével ezeken az eszközökön keresztül.

    A tartalomgyártók és a platformok üzemeltetői hatalmas felelősséggel tartoznak ebben a helyzetben. Alapvető kötelességük az, hogy a platformjaikon megjelenő tartalmakat jobban monitorozzák, és felelősségteljesebben szűrjék azért, hogy a fiatalok, akik most is itt vannak, és esetleg néznek bennünket, minél kevesebb káros tartalommal találkozzanak.

    Az a megoldás – azt gondolom –, hogy a tudatos médiahasználatot erősítsük az oktatásban, nem pedig a modern média kizárása az iskolákból. A meglévő szabályok, törvények alkalmazása a tagállamokban, valamint a nagy online platformok magatartási kódexeinek folyamatos fejlesztése és monitorozása.

    Meg kell akadályoznunk, hogy a gyűlöletbeszéd és az antidemokratikus propaganda és a politikai manipuláció terjedjen a gyermekek között, és ebben nekünk is, képviselőknek is nagy felelősségünk van. Az, hogy mi hogy szerepelünk, mit mondunk, óriási jelentőséggel bír.

     
       

     

      Francisco Assis (S&D). – Senhora Presidente, Senhor Comissário, a tolerância ilimitada leva ao desaparecimento da tolerância. Se estendermos a tolerância ilimitada mesmo aos intolerantes e se não estivermos preparados para defender a sociedade tolerante do assalto da intolerância, então os tolerantes serão destruídos e a tolerância com eles. Estas palavras são da autoria de um dos maiores filósofos democrato‑liberais do século XX, Karl Popper, e constam da sua obra conhecida A Sociedade Aberta e os seus Inimigos.

    E é precisamente disto que estamos a falar. Popper tanto contestou os totalitarismos de direita como os totalitarismos de esquerda. Defendeu claramente o primado da democracia liberal e tinha consciência de uma coisa: que o único limite que se pode estabelecer é o limite em relação àqueles que, sendo intolerantes, põem em causa os pressupostos básicos e fundamentais da convivência cívica democrático‑liberal. Isso, infelizmente, hoje, está a suceder em grande escala nas redes digitais, afeta vários segmentos da população e tem um efeito particularmente nocivo junto dos mais jovens.

    A resposta para isso passa por duas coisas: por um lado, por uma melhor regulação das redes sociais, em nome da defesa da liberdade – não é em nome da atrofia da liberdade, como alguns aqui pretendem afirmar, é em nome da defesa dos valores da liberdade –, e, em segundo lugar, pela promoção de um pensamento crítico, autónomo, livre e consciente em cada jovem europeu. É esse o caminho que nós temos de seguir.

     
       

     

      Susanna Ceccardi (PfE). – Signora Presidente, onorevoli colleghi, l’Unione europea sta trasformando il contrasto d’odio online in un cavallo di Troia per soffocare la libertà di espressione sul web.

    È vero, le nuove tecnologie possono essere usate per diffondere offese, minacce e odio. Ne so qualcosa: ogni giorno ricevo minacce dai fondamentalisti islamici o dai “leoni da tastiera”. Ma la soluzione non è imbavagliare chi esprime idee scomode e soffocare il dissenso.

    Il Commissario Breton ha tentato di oscurare il dibattito tra Elon Musk e Trump. È questa la vostra democrazia? La democrazia vive di dialettica. Il pensiero occidentale vive sulla libertà, è fondato sulla libertà di pensiero. Se noi soffochiamo la libertà di pensiero, soffochiamo l’Occidente, soffochiamo ciò che siamo, soffochiamo l’Europa e quindi l’Unione europea sta tradendo se stessa, sta tradendo tutta la filosofia del pensiero occidentale.

    Con questo regolamento sui servizi digitali noi mettiamo il bavaglio alle persone, soprattutto a quelle idee scomode che non piacciono alla sinistra woke, che non piacciono alla sinistra perbenista che in queste aule fa tanta teoria, è brava ad insegnare a tutti ma non sa bene ancora su che pilastri si regge l’Europa.

     
       

     

      Paolo Inselvini (ECR). – Signora Presidente, onorevoli colleghi, è vero che le nuove tecnologie, come i social media, hanno un’enorme influenza sulle menti dei giovani. Tuttavia, la radicalizzazione che subiscono è anche quella promossa dalla sinistra, che parla di libertà ma spesso non la pratica nei fatti.

    Ogni giorno assistiamo a bombardamenti mediatici che esaltano teorie LGBT, il fanatismo green e una società liquida, ideologie contro l’identità e la comunità, che promuovono l’individualismo e discriminano chi difende con fermezza i principi della nostra civiltà. Guardate il caso di Päivi Räsänen, accusata di incitamento all’odio solo per aver citato la Bibbia, o alla censura nei confronti di coloro che osano contrastare l’immigrazione incontrollata, difendere la vita e la famiglia o criticare il pensiero unico.

    Ecco, questo è davvero antidemocratico. Il pensiero unico che la sinistra vuole imporre al mondo, impedendo a chi è fuori dal coro di affermare le proprie idee, tacciandolo di fomentare odio solo per estrometterlo dal dibattito.

    Avete ragione, dobbiamo proteggere i giovani da questo mondo falso e artificiale che qualcuno ha costruito intorno a loro per controllarli meglio. Facciamoli uscire da questa gabbia: riportiamoli a rivivere la bellezza vera della vita.

     
       

     

      Irena Joveva (Renew). – Gospa predsednica! Zgodovina se ponavlja. To je vselej moja prva misel ob spremljanju razvoja uničujoče propagandne retorike, ki jo vedno bolj aktivno uporabljajo skrajneži.

    Namen je jasen: razdvajanje, destabilizacija demokratične družbe. To isto sovražno ideologijo z istimi idejami in istim načinom komuniciranja smo nekoč, po bolečih lekcijah, potisnili skrajno na rob. Toda zdaj so se z roba uspešno prikradli nazaj v središče, kjer poleg uporabe umetne inteligence za širitev svoje ideologije sočasno z dezinformacijami diskreditirajo vse, ki ne mislijo tako kot oni.

    Gre za usklajeno, dobro financirano, nadnacionalno propagandno kampanjo za širitev in uveljavitev avtoritarnosti, če ne še česa hujšega, v Evropi. V času porasta nacizma so to počeli s prevzemom radiev, danes to počnejo prek družbenih omrežij.

    In prav imajo. Izbira je res naša. Ali torej res želite, da to spet postane prevladujoča retorika in normalna? Jaz ne.

     
       

     

      Lena Schilling (Verts/ALE). – Frau Präsidentin, liebe Kolleginnen und Kollegen! Eigentlich wollte ich anders anfangen, aber wir haben gerade ein Lehrbeispiel gesehen vom Kollegen Mazurek, der erklärt hat, wie man eine Rede hält, die man dann auf Social Media stellt, wo man rechtsextremes Gedankengut verbreitet, manipuliert und unsere Gesellschaft radikalisieren kann. Ja, es sind Autokraten und Rechtsextreme, die weltweit Social Media dafür einsetzen, Wahlen zu beeinflussen, dazu einsetzen, Gesellschaften weiter zu spalten, und dazu einsetzen, Fake News zu verbreiten. Und er ist damit nicht alleine, aber danke für dieses perfekte example.

    Donald Trump wirft Migranten vor, Haustiere zu essen, Moskauer Propagandafirmen wiederholen millionenfach Lügen – 33,9 Millionen Kommentare, 39 899 Inhalte, darunter tausende Videos, Memes und Grafiken innerhalb der letzten vier Monate: Das ist mittlerweile Teil unserer politischen Praxis. Und ich sage Ihnen etwas: Wir junge Menschen, die Social Media nutzen, die damit aufwachsen, wir werden uns das auch irgendwann nicht mehr gefallen lassen, dass unsere Plattformen als geopolitischer Spielball instrumentalisiert werden. Sie sollten dazu dienen, dass wir uns ausdrücken können, dass wir miteinander kommunizieren können, und nicht von politischen, verschiedenen, Mächten hier instrumentalisiert werden.

    Zu diesem Punkt: Wir werden daran arbeiten, dass es klare Regeln gibt, und Menschen darüber informieren, welcher Blödsinn ihnen hier vorgesetzt wird.

     
       

     

      Christine Anderson (ESN). – Frau Präsidentin! Heute beklagen Sie nun also den Missbrauch neuer Technologien, der angeblich unsere Jugend radikalisiert. Dabei ist es doch Ihre radikale Politik, die die Menschen spaltet und aufhetzt. Während Corona haben Sie Teile des Volkes zu Feinden erklärt, Ungeimpfte zu Sündenböcken gemacht. Stimmen zur Schädlichkeit der mRNA-Injektion wurden wegzensiert, damit Ihre Impfpropaganda unwidersprochen blieb.

    Regierungskritische Stimmen unterdrücken Sie, während Sie geflissentlich wegschauen, wenn auf YouTube, TikTok und Co. übelster islamischer Antisemitismus gefeiert wird und sich diese frauenfeindliche, menschenverachtende und totalitäre Ideologie des Islams durch unsere Gesellschaft frisst. Die vermeintliche Radikalisierung, die Sie bekämpfen wollen, ist die längst überfällige Antwort auf die Radikalität Ihrer Politik, dieser unsäglichen, illegalen Masseninvasion.

    Hören Sie doch endlich auf, sich lächerlich zu machen! Anstatt Kritiker zu zensieren, nehmen Sie die Kritik ernst und machen Sie endlich wieder Politik für das eigene Volk, dann gibt es auch keine Radikalisierung unterm Volk!

     
       

     

      Ondřej Dostál (NI). – Paní předsedající, děkuji za otevření tohoto tématu. My žijeme v zemi, kde provládní aktivisté na sítích přáli smrt či covidový koncentrák každému, kdo odmítal nosit roušky v lese nebo kdo chtěl večer běhat v parku. Žijeme v zemi, kde se netrestá tvrzení, že staří lidé volící konzervativní levici musí vymřít, aby zvítězily ty správné progresivní síly, že staří jsou hloupí a nevzdělaní a měli by volit pod dohledem, kde se natočil klip „Přesvědč bábu, přesvědč dědka“. Žijeme v zemi, kde vláda na strategickou komunikaci najala plukovníka armády, hrubého a sprostého, který nazývá oponenty sviněmi a šmejdy, a kde i usměvavé poslankyně tohoto parlamentu mluví o opozičních poslancích jako o košťatech, paní Nerudová, nebo o špínách, paní Gregorová.

    Žijeme v zemi, kde britská či americká ambasáda včetně National Endowment for Democracy financují neziskové organizace, které cíleně dehonestují oponenty provládního narativu. To všechno se promítá do extrémního prostředí na sociálních sítích, kde je demokratická diskuse takřka nemožná. Starší Češi jsou díky historii odolní vůči propagandě, ale mladí se bohužel radikalizují. Rád bych proto z tohoto místa vyzval českou vládu, ambasády cizích velmocí a kolegy poslance EP, aby se šířením hate speech skončili.

     
       

     

      Manuela Ripa (PPE). – Frau Präsidentin! Wir sprechen über eine neue Sucht: Empfehlungsalgorithmen haben die meisten Jugendlichen auf Social Media fest im Griff. Das heißt: Schauen sie sich ein Video an, bekommen sie unaufgefordert immer weitere, teils immer extremere Inhalte vorgesetzt. Den Jugendlichen bleibt oftmals keine Wahl, sie kommen davon nicht mehr los. Nicht nur, dass die Suchtgefahr steigt, Hassbotschaften und Hetze können sie auch radikalisieren – vor Wahlen ist dies sogar demokratiegefährdend.

    Gut, dass die Kommission hier gegen abhängig machende Algorithmen den Digital Services Act anwendet, aber das reicht nicht. Die Berichtspflicht der Plattformen muss qualitativ verbessert werden, am besten, indem sie ihre Berichte durch externe Prüfer prüfen lassen. Weiterführende Videos sollten nur angezeigt werden, wenn man tatsächlich auch draufgeht. In Schulen muss digitale Kompetenz vermittelt werden, sodass sie lernen, Informationen und Quellen kritisch zu hinterfragen. Sie sollten einen KI-Führerschein machen. Dass Schüler mittels KI ihre Hausaufgaben machen dürfen, ist sicherlich keine Lösung.

    Achten wir auf unsere Kinder und Jugendlichen, sie sind unsere Zukunft!

     
       


     

      Veronika Cifrová Ostrihoňová (Renew). – Vážená pani predsedajúca, ďakujem veľmi pekne, dobrý deň – a začnem osobným presvedčením: mladí ľudia nie sú ani horší, ani lepší, ani radikálnejší ako iní, ale dnes sa stretávajú so silou, ktorej v takejto miere nemusela čeliť žiadna iná generácia predtým, a tou je online svet. Ak si niekto myslí, že sa tam veci dejú náhodou, tak sa mýli. Algoritmy sociálnych sietí nielen pre mladých vytvárajú pasce, do ktorých môžu ľahko spadnúť, a internet už dávno nie je iba slobodný priestor, ale je to miesto, kde sa šíri radikalizmus, kde je priestor pre trestné činy a pre násilie a našou úlohou tu je urobiť všetko pre to, aby sme tieto pasce odstránili. Nie ste dobrá firma, ak obsah, ktorým kŕmite mladých, je toxický. A toto je presne dôvod, prečo tak veľmi potrebujeme poctivo dodržiavať zákon o digitálnych službách. Nástroje na bezpečnejší internet naozaj máme, tak ich využime. Máme na to teraz šancu. Mladým ľuďom totiž ako spoločnosť vieme dať oveľa viac, ako dnes od nás dostávajú.

     
       

     

      Jaume Asens Llodrà (Verts/ALE). – Señora presidenta, el señor Buxadé ha hablado de la libertad de los patriotas y de las manifestaciones legítimas en el Reino Unido contra la inmigración, pero seguro que ustedes se acuerdan: eso no fueron manifestaciones pacíficas, fueron disturbios racistas donde se apaleó y apuñaló a personas vulnerables y se quemaron casas. ¿Y por qué? Porque difundieron un bulo —con la ayuda de Elon Musk— atribuyendo falsamente unos asesinatos a una persona inmigrante cuando, en verdad, el autor era inglés. Y en España intentaron hacer lo mismo.

    Señor Buxadé, ustedes están en guerra con la verdad. Y el problema es que mucha gente —sobre todo jóvenes— se instala en un mundo paralelo, y crecen el miedo, el odio, las agresiones; porque ustedes, cuando señalan a los que vienen con patera, huyendo de la guerra o del hambre, es para que no veamos a los de arriba, a las élites, a los que los explotan, a los responsables de las crisis.

    Por eso, señor comisario, necesitamos una legislación europea que nos proteja de la extrema derecha, de sus bulos, como el que hoy el señor Buxadé ha dicho.

    La mentira destruye la democracia, el derecho a tener información veraz y, por tanto, a formarnos una opinión y poderla expresar. Eso no es censura, como ha dicho la extrema derecha; si no hay verdad, no hay libertad: hay opresión. Y como dijo Camus: «La peor epidemia no es biológica, sino moral». La epidemia de la mentira.

     
       


     

      Łukasz Kohut (PPE). – Pani Przewodnicząca! Media społecznościowe bardzo szybko stały się piątą władzą i jak każda władza także i ta w niewłaściwych rękach staje się bronią. Internet, a później media społecznościowe miały łączyć ludzi na całym świecie i dać dostęp do wiedzy. Miały. A już dziś musimy mierzyć się z konsekwencjami wykorzystywania sieci niezgodnie z przeznaczeniem. Cud techniki, który miał łączyć, stwarza coraz większe podziały za pomocą manipulacji, fałszywych informacji i mowy nienawiści. Tak jak lekarstwo od trucizny różni dawka, tak kreacyjny i destrukcyjny wpływ mediów cyfrowych zależy od tego, w czyich rękach się znajdą.

    Brexit i to, że nie ma tutaj z nami Wielkiej Brytanii, jest efektem manipulacji. Rosyjska dezinformacja walczy o rozpad demokratycznego świata od wielu lat. Pierwsza kampania Trumpa przy wsparciu fake newsów i Cambridge Analytica pokazała siłę sieci. Dzisiaj milionem dolarów dziennie ma wspierać Trumpa właściciel portalu X. To jest obłęd. Nie może być tak, że algorytmy uprawiają inżynierię wyborczą, a my biernie stoimy i patrzymy, jak giganci cyfrowi czy służby obcych mocarstw urządzają nam świat. Internet w ich rękach stał się groźnym narzędziem. Dokładnie tak jak bomba atomowa Oppenheimera, która miała służyć pokojowi. Czas przestać się łudzić. Musimy zapanować nad siecią albo ona zapanuje nad naszą rzeczywistością. Trzy postulaty: lepsze prawo, kontrola IP i konsekwencje działań w sieci.

     
       

     

      Alexandre Varaut (PfE). – Madame la Présidente, la haine en ligne, que nous devons combattre, c’est d’abord le harcèlement, les injures, la diffusion de montages qui poussent des enfants, parfois très jeunes, à tomber en dépression ou même à se suicider. Il faut cependant nous garder d’abuser de ce terme pour tenter de criminaliser des opinions. Et certains, au sein de l’Union européenne, ont très souvent cette tentation.

    La haine est un sentiment. Il est bien difficile de légiférer sur des sentiments. Nous ne pouvons légiférer que sur des actes concrets, qui causent des préjudices concrets à des victimes concrètes. Nous n’avons pas le droit d’en profiter pour traquer des opinions et pour sacraliser des notions wokes qui, matériellement, n’existent pas – telles que l’imaginaire collectif, la conscience humaine ou les valeurs universelles.

    Le risque serait le règne d’un arbitraire idéologique, qui pourrait parfaitement se retourner contre chacun d’entre nous, d’entre vous, même si à cet instant, ce sont sans nul doute les patriotes qui sont visés par la police de la pensée.

     
       

     

      Танер Кабилов (Renew). – Г-жо Председател, свободата на словото е едно от най-важните постижения на демокрацията и модерното гражданско общество. Достиженията на дигиталната ера, в която живеем, предоставя безпрецедентни възможности за комуникация и обмен на информация, но и нови предизвикателства, пред които се изправяме.

    Социалните мрежи се превръщат в арена за разпространение на омраза, особено в нейните най-опасни измерения – етническа и религиозна. Нараства злоупотребата с фалшиви профили и ботове, а хибридните атаки и дезинформационни кампании, манипулиращи общественото мнение, стават все по-често, особено по време на избори. Младите, с техните отворени сетива за знания, са чувствително уязвими за радикални идеи, които им се предоставят от алгоритмите, търсещи все повече гледания и интеракции. Това е сериозна заплаха за бъдещето на демокрацията.

    Категорично осъждам езика на омразата във всяка негова форма. Трябва да сме чувствителни като гражданско общество и да сме проактивни като политици. Трябва да намерим правилния баланс между свободата на словото и злоупотребата с него.

     
       


     

      Tiago Moreira de Sá (PfE). – Senhora Presidente, vivemos tempos em que o discurso de ódio e a retórica anti‑democrática se tornaram desculpas perfeitas para justificar um novo despotismo – a censura camuflada de virtude. Sempre que o poder se sente ameaçado, a liberdade é o seu primeiro alvo, e o caso de Elon Musk, do Prémio Sakharov, é disso exemplo – excluído num processo opaco, uma voz silenciada, a pretexto da própria liberdade de expressão.

    A Comissão Europeia entrou em confronto aberto com Musk, acusando‑o de falhar na monitorização do discurso de ódio na sua plataforma X. A polémica já fez cair o ex‑comissário europeu Thierry Breton, mas os processos judiciais que a Comissão move contra as empresas de Musk, incluindo a aplicação de possíveis multas severas, caso não cumpra com a lei dos serviços digitais, continuam bem vivos.

    Este fim de semana, o Der Spiegel chamou a Elon Musk o inimigo público número dois, atrás de Donald Trump, imaginem. A União Europeia e o Der Spiegel estão a fazer a Musk o mesmo que o Brasil de Lula e a Venezuela de Maduro. Como em O Nome da Rosa, de Umberto Eco, onde os livros eram envenenados para proteger os monges da dúvida e do riso, hoje envenena‑se o debate público para proteger a sociedade da liberdade. E, como sabemos, do veneno só pode resultar sempre a morte.

    (O orador aceita responder a uma pergunta «cartão azul»)

     
       

     

      Bruno Gonçalves (S&D), Pergunta segundo o procedimento «cartão azul». – Senhor Deputado, é incrível ouvi‑lo falar de liberdade, quando o problema é mesmo com a verdade. Enquanto, neste Parlamento, debate o ódio, debate o discurso do ódio, debate a proliferação do ódio no digital, em Portugal, sabemos bem o que está a acontecer e com o qual o seu partido e os seus representantes não têm o mínimo de empatia.

    Deixe‑me citar, o líder parlamentar do seu partido diz: «se a polícia atirar mais a matar, o país fica em ordem»; o assessor do seu partido diz: « menos um criminoso, menos um eleitor do Bloco» sobre a morte de um cidadão português. O que eu lhe pergunto, com empatia, Senhor Deputado: pode ou não condenar este ódio? Pode ou não condenar estas declarações?

     
       

     

      Tiago Moreira de Sá (PfE). – Senhor Deputado, eu confesso que pensei fazer a minha intervenção justamente sobre o que está a acontecer em Portugal. Depois, achei que não o devia fazer aqui, neste local, devia fazer em Portugal e para os portugueses. O que eu acho que contribui muito para o discurso de ódio – realmente o que está a acontecer em Portugal, sim – é quando nós confundimos polícias com ladrões, quando nos pomos do lado de quem prevarica e não cumpre a lei e incita à violência, em vez de protegermos a autoridade do Estado e as forças da autoridade.

    Eu acho que nós devemos pensar muito bem, porque a sua própria pergunta, ela própria, tem por detrás – eu sei que não foi com intenção – extremar, por detrás, polarizar, por detrás, criar esta visão de bons e maus. Eu, o que devo dizer, terei todo o gosto em ter esse debate consigo, mas não o vou fazer aqui. Farei no meu país.

     
       

     

      Hermann Tertsch (PfE). – Señora presidente, ayer estuve en una cena de la Asociación Parlamentaria Europea, en la que la mayoría son todos de los que gobiernan, de estos que gobiernan en la Comisión, es decir, del Partido Popular Europeo y de la izquierda, los perdedores abrazados al Partido Popular Europeo para seguir gobernando.

    Allí se iba a hablar de las elecciones norteamericanas y se habló de Trump. Y, de repente, Trump era Hitler. Trump era Hitler. Allí, en una asamblea de una serie de eurodiputados, se hablaba de Trump con mentiras sobre su pasado y con especulaciones insidiosas sobre su futuro.

    La señora Applebaum, supuestamente una gran intelectual a quien le han dado un premio en Fráncfort, habla de Trump como Hitler. Hemos visto también a la señora Harris —la candidata— hablando de Trump como Hitler.

    Ese insulto a la inteligencia por parte de la izquierda al tachar de Hitler, de fascistas, de nazis, a todos aquellos que no le interesan, eso sí que es una censura y un atentado contra todo el pensamiento europeo.

    Quieren ustedes un Ministerio de la Verdad para imponer una mentira, y no lo vamos a permitir.

     
       

     

      Mathilde Androuët (PfE). – Madame la Présidente, les jeunes âgés de 13 à 19 ans passent en moyenne plus de cinq heures par jour devant un écran. Il s’agit, pour certains, du seul moyen de se sociabiliser, et cela peut générer des violences – contre soi-même ou contre d’autres. Mais au lieu de lutter contre l’abandon de nos jeunes au virtuel, la Commission européenne préfère s’attaquer aux outils que sont Telegram ou X pour entraver la liberté d’expression.

    Alors oui, Daech a recruté des terroristes et des soldats sur les réseaux sociaux. Oui, des jeunes adoptent des mœurs archaïques pour intégrer une soi-disant nouvelle famille. Mais s’en prendre aux outils, plutôt que de chercher à répondre à ce besoin légitime d’appartenir à un groupe fort et exaltant, est idiot. C’est aussi idiot que d’interdire les voitures ou l’usage des couteaux de cuisine au prétexte que certains s’en servent pour tuer.

    C’est pourtant ce que fait la Commission en censurant – prioritairement d’ailleurs – ceux qui essaient de lutter contre le wokisme ou l’islamisme et en laissant pulluler antifas et prêcheurs de haine. Il ne faut pas changer d’outil, mais de modèle. Il faut offrir un vrai modèle de société à la jeunesse européenne, qui magnifie les richesses du passé dans l’objectif d’exalter l’avenir. Le problème, ce n’est pas l’internet, c’est une société occidentale qui, refusant toute pulsion de vie, pousse sa jeunesse vers des sectes où la pulsion de mort est devenue leur vie.

     
       

       

    Procedura “catch-the-eye”

     
       

     

      Matej Tonin (PPE). – Gospa predsednica! Drage kolegice in kolegi! Pred petnajstimi leti se je zdelo, da so socialna omrežja prihodnost, da bodo ključno orodje za spodbujanje demokracije. In petnajst let po tem se zdi, da so socialna omrežja predvsem orodja za širitev sovraštva in nestrpnosti.

    Kaj se je v teh petnajstih letih zgodilo tako dramatičnega, da je iz enega dobrega orodja nastalo slabo? Algoritmi. Algoritmi so tisti, ki spodbujajo sovraštvo, ki spodbujajo nestrpnost, ker v današnjem svetu enostavno dobra novica ni več novica. In zato algoritmi spodbujajo negativne stvari, spodbujajo predvsem nestrpnost.

    Sem pa prepričan, da prepoved ni rešitev, ampak da je ključna stvar za prihodnost ozaveščanje mladih, kakšne posledice ima lahko nekritična uporaba socialnih omrežij.

     
       

     

      Juan Fernando López Aguilar (S&D). – Señora presidenta, señor comisario, el modelo de negocio de las plataformas —normalmente regidas por magnates de ultraderecha— no reside solamente en explotar las debilidades, las vulnerabilidades y las características personales que los usuarios ponen a su disposición, sino, sobre todo, en generar algoritmos adictivos que se ensañan, especialmente, con la gente joven, que son los usuarios preferentes que pasan media vida ante las pantallas, consumiendo discursos de odio que radicalizan, que estigmatizan, a categorías enteras de personas, además de contenidos violentos.

    El problema no reside solamente en los contenidos, sino en la explotación de la vulnerabilidad de la gente joven: un desafío enorme para la próxima Comisión. Hemos adoptado el Reglamento de Servicios Digitales, hemos puesto en pie una estrategia contra el discurso de odio que incluye también no solamente un código de conducta para las plataformas —escasamente vinculante— sino, sobre todo, la orden de que la Comisión traiga a este Parlamento una iniciativa legislativa para hacer del delito de odio que incita la violencia de odio un delito europeo.

    Pero no es suficiente: alfabetización digital, educación, todo lo que la Comisión pueda hacer para proteger a la gente joven, que es el futuro de la Unión Europea, frente a la propagación del discurso de odio en las redes.

     
       

     

      Sebastian Tynkkynen (ECR). – Arvoisa puhemies, vihapuhe, radikalisoituminen ja demokratiavastaisuus. Tämä hetki on varattu sille, että tämä koko sali keskustelee näistä aiheista. Itse asiassa tämä on hyvin ajankohtainen aihe, joten siitä onkin hyvä keskustella. Me olemme nimittäin todistaneet viime aikoina tapahtumia, jotka täyttävät nämä kaikki tunnusmerkit: vihaa, radikalisoitumista ja demokratiavastaisuutta. Lukuisissa Palestiina-mielenosoituksissa aina huippuyliopistoihin saakka ovat raikuneet antisemitistiset huudot. Lähi-idän ainoalle demokratialle Israelille on toivottu tuhoa, ja radikaali terroristijärjestö Hamas on nauttinut monen mielenosoittajan tukea.

    Miksi en ole kuullut, että vasemmisto olisi tästä puhunut tänään? Haluan muistuttaa teitä tästä, kun te etsitte vihapuhetta ja radikaalia puhetta kaikkialta, niin käykääpä joskus vasemmiston Palestiina-mielenosoituksissa. Saatatte löytää sieltä sitä, mitä olette kaikkialta muualta etsimässä.

     
       

     

      Lukas Sieper (NI). – Madam President, dear colleagues, honourable House, as we talk of young people here with my, in other cases, little life experience of 27 years, I am happy to take the floor today.

    I may present you with three truths. Number one: TikTok is owned and controlled by the Chinese Communist Party, responsible for atrocities like putting Uyghurs in concentration camps.

    Number two: because of that, the algorithm is, of course, also controlled and manipulated by the Chinese Communist Party.

    Number three: if you, my dear colleagues, do not join TikTok, and if you are not active there, you will leave this platform and the young people on this platform to the enemies of democracy inside this House and outside this House.

    So please be active there no matter what. I am not much, but I am young, so I hope you trust me on that.

     
       

       

    (Fine della procedura “catch the eye”)

     
       

     

      Janusz Wojciechowski, Member of the Commission. – Madam President, honourable Members, thank you for your contributions. It is clear that new technologies have transformed our economies, our societies, our lives. They have multiple benefits, but we cannot ignore the risks. Hate speech, often fuelled by disinformation, is one of them.

    We need to keep our values of equality, tolerance, non-discrimination. We also need to keep our focus on delivering policies which improve citizens’ lives. We want to support active citizenship and social inclusion with the aim of fostering more equitable and tolerant societies. There is a pivotal role here as concerns the smart and safe use of digital technologies. The scope of prevention activities is broad, and we can extend it to education, employment, justice, social inclusion or sports.

    Within the framework of the Digital Services Act, the industry’s thorough commitment is necessary to succeed. We have a good basis, but we need to intensify our efforts and adopt the fast development of new technologies.

     
       


       

    IN THE CHAIR: ROBERTA METSOLA
    President

     

    5. Resumption of the sitting

       

    (The sitting resumed at 12:05)

     

    6. Sakharov Prize 2024 (announcement of the winner)

     

      President. – Dear colleagues, it is my privilege to announce that the 2024 Sakharov Prize for Freedom of Thought has been awarded to María Corina Machado, leader of the democratic forces in Venezuela, and President-elect Edmundo González Urrutia, representing all Venezuelans inside and outside the country, fighting to restore freedom and democracy in the face of injustice.

    (Loud and sustained applause)

    Edmundo and María have continued to fight for the free, fair and peaceful transition of power and have fearlessly upheld those values that millions of Venezuelans and this Parliament hold so dear: justice, democracy and the rule of law. This Parliament stands with the people of Venezuela and with María and Edmundo in their struggle for the democratic future of their country. This award is for them, and we are confident that Venezuela and democracy will ultimately prevail.

    I also want to extend this House’s wholehearted support to the other Sakharov Prize finalists: the Israeli and Palestinian movements ‘Women Wage Peace’ and ‘Women of the Sun’.

    (Loud and sustained applause)

    We also have the finalist Azerbaijani academic and anti-corruption activist Dr Gubad Ibadoghlu.

    (Loud and sustained applause)

    All three are bravely standing up for human rights and for freedom of thought in the face of unimaginable challenges.

    I also share the tragic news that Dr Ibadoghlu’s health condition is currently deteriorating significantly. He is being kept under house arrest following his arbitrary detainment, and I take this opportunity to call on the Azerbaijani authorities to drop all charges against Dr Ibadoghlu and lift his travel ban.

    (Applause)

     

    7. Request for waiver of immunity


       

    (The sitting was briefly suspended)

     
       

       

    PRESIDE: JAVI LÓPEZ
    Vicepresidente

     

    8. Resumption of the sitting


     

      Lukas Sieper (NI). – Mr President, honourable House, Rule 202 deals with the point of order. Last plenary week, I had the honour to shed some light on the blatant misuse of this rule inside this House. We were talking about Rule 202(1) that states that you shall use a point of order to address a failure to comply with the parliamentary Rules of Procedure.

    Today, I want to talk about Rule 202(4) that states that in all regular cases like this, the President shall take an immediate decision about the point of order raised. That is not what happened to my point of order. Instead, right after I finished, we kept on seeing the same thing. For example, since then we heard about the suffering of the Palestinian people or the necessity to honour a Polish priest. Understandable topics, but nothing to state inside a point of order.

    In my legal opinion, immediate means on the spot. So, Mr President, with all due respect and being thankful to also having the possibility to forewarn President Metsola on this directly yesterday, I request an immediate decision about stopping the point of order being misused.

     
       

     

      President. – Thank you very much. You have the answer: we take note of your comment.

     

    9. Voting time

     

      President. – The next item is the vote.

     

    9.1. Situation in Azerbaijan, violation of human rights and international law and relations with Armenia (RC-B10-0133/2024, B10-0129/2024, B10-0131/2024, B10-0133/2024, B10-0136/2024, B10-0139/2024, B10-0141/2024, B10-0142/2024) (vote)

     

      President. – The first vote is on the situation in Azerbaijan, violation of human rights and international law and relations with Armenia (see minutes, item 9.1.).

     

    10. Resumption of the sitting

       

    (La seduta è ripresa alle 15.00)

     

    11. Approval of the minutes of the previous sitting

     

      Presidente. – La seduta è ripresa.

    Il processo verbale della seduta di ieri e i testi approvati sono stati distribuiti.

    Se non ci sono osservazioni, il processo verbale si considera approvato.

     

    12. Protecting our oceans: persistent threats to marine protected areas in the EU and benefits for coastal communities (debate)


     

      Janusz Wojciechowski, Member of the Commission. – Madam President, honourable Members, thank you for the opportunity to address this important topic today. The ocean is a magnificent ecosystem. A healthy ocean has an essential role as a climate regulator and food provider. It is at the heart of the blue economy and cultural identity of our coastal communities.

    However, our ocean faces multiple threats from climate change, unsustainable activities that lead to biodiversity loss and pollution, or illegal fishing globally. This is clearly evidenced by the EU-driven Copernicus satellite data reported in the annual Ocean State Report by the Copernicus Marine Service.

    Therefore, we need to continue the efforts to protect and restore marine ecosystems, including through the establishment of marine protected areas. I cannot stress enough the importance and positive effects of marine protected areas. They not only protect and restore biodiversity, they also ensure that the ocean is able to deliver the multiple environmental services our coastal communities have relied on for ages.

    There are many examples of effective marine protected areas which bring long-term economic and social benefits for fishers and entire coastal communities. I’m thinking about the Columbretes marine reserve in Spain or Torre Guaceto protected area in Italy, where protection is implemented in cooperation with fishers, who benefit from better catches and receive recognition for their engagement in ocean conservation.

    However, most of our marine protected areas are not effectively managed today, which is putting at risk our goals for restoration of marine ecosystems. We cannot afford to have ‘paper parks’ in the EU. We need urgent and greater efforts from all those responsible, from local to national and EU level.

    The European Union is a worldwide leader when it comes to the protection of the oceans and seas. It played a key role in reaching the United Nations agreement on biodiversity beyond national jurisdiction and strongly encourages all countries to promptly ratify the treaty to protect at least 30 % of the planet by 2030.

    At European Union level, our environmental laws, the Birds and Habitats Directives and the Marine Strategy Framework Directive provide for creation and management of marine protected areas. In our biodiversity strategy for 2030, we committed to expand our network of protected areas to cover 30 % of our seas, of which one third should be strictly protected. All MPAs should be effectively managed and should have the necessary fisheries management measures in place.

    The common fisheries policy contributes to the implementation of these policy goals and legislation. Whilst we made progress on the recovery of many fish populations, more efforts are needed to effectively protect and restore other species and marine habitats. In particular, in our marine Natura 2000 network.

    The Commission also adopted the marine action plan, setting out a non-binding path to achieving a protection of 30 % of our seas by 2030. The recently adopted Nature Restoration Regulation set the goal of covering 20 % of our seas, with restoration measures by 2030 and achieving specific nature restoration objectives in the marine environment.

    Member States need to implement and enforce existing legislation, and all stakeholders need to take further ownership. Therefore, a dialogue is required, as well as a strong science-based approach.

    Another challenge for marine protected areas is the increasing competition for maritime space. We are working with Member States and experts to deliver ecosystem-based maritime spatial planning. The aim is to foster the blue economy while ensuring the achievement of good environmental status.

    In conclusion, the Commission will continue the close cooperation with Member States and all stakeholders to ensure that marine protected areas effectively deliver to the benefit of our coastal communities.

     
       

     

      Francisco José Millán Mon, en nombre del Grupo PPE. – Señora presidenta, señor comisario, los océanos se enfrentan a numerosas amenazas, es cierto: el cambio climático, la contaminación por desechos y vertidos, los plásticos, el transporte marítimo, la explotación de hidrocarburos, la pesca ilegal… Debemos proteger los océanos, pero sin caer en extremismos maximalistas: la protección no es incompatible con toda actividad humana. El llamado «pacto europeo de los océanos» debería tener una visión holística, global, que trate de integrar las actividades humanas de una manera sostenible y en diálogo con los afectados. Hay que preparar debidamente la próxima conferencia de Niza.

    Me centro ahora en la pesca: proteger los océanos es vital, también para el sustento de nuestros pescadores. El sector pesquero europeo es un sector muy regulado, lleva a cabo una pesca sostenible, lucha contra la pesca ilegal y contribuye a nuestra seguridad alimentaria: debemos velar por su prosperidad y su competitividad.

    Quiero destacar la importancia de las OROP, las organizaciones regionales de ordenación pesquera. Precisamente, el acuerdo sobre la diversidad biológica marina en alta mar, conocido como BBNJ, reconoce el papel de las OROP y de las reglamentaciones que estas adoptan. En las OROP y en el resto de organismos internacionales necesitamos, comisario, liderazgo de la Unión Europea para conseguir que se globalicen nuestros altos estándares: así lograremos no solo una verdadera protección de los océanos, sino también la igualdad de condiciones que tanto desean nuestros pescadores.

    Las áreas marinas protegidas, como usted señala, requieren un trato especial, pero este debe basarse en criterios científicos y atender a los objetivos específicos del área en cuestión, no a meros porcentajes. Por ejemplo, si de lo que se trata es de proteger a las aves marinas, no tiene sentido ahora insistir en la prohibición del arrastre de fondo. No podemos caer en la demonización de ciertas artes pesqueras como hace, por ejemplo, el plan de acción marino presentado el año pasado por la Comisión Europea.

     
       

     

      Christophe Clergeau, au nom du groupe S&D. – Madame la Présidente, Monsieur le Commissaire, il y a quinze jours, avec mes collègues de l’intergroupe du Parlement européen «Mers, rivières, îles et zones côtières», nous avons accueilli à Bruxelles la Semaine des océans, organisée par les ONG. Voici ce qu’elles nous ont dit:

    En premier lieu, il y a urgence à se mobiliser pour restaurer la bonne santé des océans.

    En deuxième lieu, il faut faire appliquer les lois qui existent – qui aujourd’hui ne sont pas appliquées – et surveiller de près comment les États travaillent sur le règlement relatif à la restauration de la nature. Parce que 2030 va arriver très, très rapidement.

    En troisième lieu, il faut certes, Monsieur le Commissaire, aborder l’océan et son aménagement comme un écosystème, mais cette approche écosystémique n’est pas possible dans le cadre de la directive actuelle relative à la planification de l’espace maritime: il est donc urgent d’engager sa révision.

    Dernièrement, nous avons besoin d’une ambition globale – ce fameux pacte européen pour les océans promis par Ursula von der Leyen, qui permettra de concilier la santé des océans et les activités de l’économie bleue –, menée avec ce Parlement, avec les collectivités locales et avec toutes les parties prenantes, tous les acteurs associatifs et économiques.

     
       

     

      France Jamet, au nom du groupe PfE. – Madame la Présidente, monsieur le Commissaire, mes chers collègues, la protection de nos océans est un enjeu crucial sur le plan économique, environnemental et géopolitique, notamment pour la France, qui possède le deuxième plus grand domaine maritime du monde.

    Mais la multiplication des aires marines protégées n’en garantit pas l’intégrité. La pêche financière est mondialisée et prospère, sans respect de la ressource, de Mayotte à nos côtes, en toute légalité. Quant à la pêche illégale, elle ravage nos territoires maritimes, de la Nouvelle-Calédonie jusqu’en Guyane, en toute impunité.

    Au-delà de ces déclarations de bonnes intentions et autres interdictions unilatérales, c’est d’une vraie stratégie de protection des océans que nous avons besoin pour appuyer les moyens de défense de notre souveraineté alimentaire nationale et pour revaloriser notre domaine maritime ainsi que l’économie bleue.

     
       

     

      Billy Kelleher, on behalf of the Renew Group. – Madam President, this is a very important topic for a number of reasons, and for a large number of communities in our Union.

    As an MEP for an island nation, I’m acutely aware of the importance of our oceans, seas and coasts to sustain an abundance of life and communities, both socially and economically.

    As such, today’s debate on protecting our oceans, persistent threats to marine protected areas in the EU and benefits to our coastal communities is an important milestone. At present, 10% of Irish waters are now classified as marine protected areas, up from 2.4 % in 2020. The Irish Government is committed to achieving a 30 % coverage rate by 2030 and will, in the early 2025, pass legislation putting in place a legal commitment to do so. This is something I and the Fianna Fáil party supports.

    However, as an island nation, we have competing objectives and goals. In the first instance, we want to protect our marine ecosystems, but equally we want to support our fishing communities, many of whom have fished in areas set to be designated as marine protected areas for generations. Thirdly, we want to become an offshore wind energy superpower.

    Our challenge is to ensure that all these objectives can be met. It is therefore a necessity that all the stakeholders involved enter into this process with an open mind and without narrow ideological opinions.

    Fishers have a right to fish and not have their livelihoods destroyed by losing access to waters that they have historically fished in. Countries have a right to diversify their electricity generation, their waters. And yes, we have a moral obligation to protect our oceans, rivers and coastal areas.

    However, Commissioner, we have a significant challenge in Ireland, as Norway is being granted access to Irish waters for mackerel fishing. Mackerel stocks are being overfished. Irish mackerel quota will be cut by 22 % in 2025, and it will cost the Irish fishing industry EUR 18 million. Yet at the same time, we grant access to Norwegian supertrawlers to fish in Irish waters and to overfish and exploit mackerel stocks. The Irish fishing industry is very dependent on the mackerel stocks.

    So, Commissioner, I cannot understand how in one way we are talking about sustainability and ensuring we protect marine life and at the same time grant unlimited access to supertrawlers to fish in Irish waters, to exploit fish stocks and undermine the Irish fishing industry and the coastal communities that depend on it.

    When we are talking about sustainability, we must have fairness for the Irish fishing industry and the coastal communities that depend on it.

     
       

     

      Isabella Lövin, för Verts/ALE gruppen. – Fru talman! Allt liv på jorden startade i haven. Haven ger oss mat. De ger oss glädje. De producerar hälften av allt syre som vi andas. Ändå misshandlar vi haven, använder dem som soptipp och tömmer dem på fisk.

    Nu har vi också gett dem hög feber, och det är väldigt allvarligt. Som en forskare sa till mig: Klimatkrisen, den drabbar precis som covid de svagaste värst. Och havet är redan försvagat.

    I Östersjön, där jag bor, har medeltemperaturen redan ökat med två grader sedan 1990, och nere på 30 meters djup var det förra sommaren 20 grader varmt, något som aldrig har noterats förut.

    Ett område stort som Danmark är död botten. Vi måste göra någonting snabbt för denna döende patient, och vi måste göra någonting nytt.

    Vi behöver en ny havspolitik som samlat kan hjälpa våra hav att tillfriskna, så att de åter kan binda kol i bottnarna, som nu rivs upp av bottentrålning, och åter har stabila, livskraftiga ekosystem som gör vattnet klart och rent igen och som kan förse Europa med hållbart fiskad fisk.

    För det behöver vi inte bara 30 % skyddade områden, utan vi behöver en helhetssyn. Därför välkomnar jag den europeiska havspakten. Den måste ha som högsta prioritet att låta haven tillfriskna igen. Alla politikområden behöver samspela för att nå dit.

    Haven är grunden för allt liv. Skyddar vi havet så skyddar vi också oss själva.

     
       

     

      Emma Fourreau, au nom du groupe The Left. – Madame la Présidente, monsieur le Commissaire, j’imagine que votre jardin est une zone protégée. Alors, que diriez‑vous si je venais demain dans votre jardin pour y déterrer vos carottes et ramasser vos tomates, avant de repartir en piétinant tout le potager pour être sûre que vos légumes ne repoussent pas l’année prochaine? Nul doute que cela vous déplairait fortement. Et je vous répondrais que j’étais dans votre jardin comme un chalutier de fond dans les aires marines protégées, qui n’ont de protégées que le nom.

    Car, si 12 % des eaux de l’Union européenne entrent dans la définition des aires marines protégées, seules 0,2 % le sont de façon stricte. Alors qu’est-ce qui est protégé dans les autres? Rien ou presque: 86 % des aires dites protégées d’Europe sont intensément exploitées, au moyen de méthodes de pêche destructrices, comme le chalutage de fond, ou d’autres activités industrielles extractivistes.

    La pêche industrielle a des conséquences délétères: pour la biodiversité, mais aussi pour les petits pêcheurs. Au-delà du chalutage de fond, ces derniers subissent également de plein fouet la concurrence des méga-chalutiers pélagiques, qui n’hésitent pas à traverser les aires marines protégées. Exclure la pêche industrielle des aires marines protégées, comme le recommande l’Union internationale pour la conservation de la nature, c’est donner de l’oxygène à la pêche artisanale, dont les incidences environnementales sont moindres, et qui favorise le renouvellement des espèces.

    La Commission s’est engagée à sortir du chalutage de fond dans les aires marines protégées d’ici 2030. Soyez à la hauteur de l’engagement en adoptant un plan de transition juste, qui accompagne les pêcheurs, leur donne de la visibilité, des incitations et des solutions de rechange, et qui prévoie un véritable plan de déchalutisation de la flotte européenne.

    Sans action concrète de la Commission comme des États, vos promesses resteront vaines.

     
       

     

      Siegbert Frank Droese, im Namen der ESN-Fraktion. – Frau Präsidentin, Herr Kommissar, sehr geehrte Kollegen! Niemand Vernünftiges ist gegen den Schutz der Ozeane vor Zerstörung, aber Umweltschutz funktioniert nicht mit starren Daten, utopischen Zielvorgaben und ideologischer Verblendung.

    Sinnvoll sind praktische Dinge, etwa harte Bestrafung von Kapitänen, die ihre Abfälle ins Meer werfen, oder Firmen, die Tankerunfälle fahrlässig verursachen, aber wir brauchen keine Blue Economy als neue sozialistische Planwirtschaft. Ein Beispiel dafür: Bis 2030 sollen 30 % der Ozeane als Schutzzone fungieren – das ist ein utopisches Ziel.

    Die Natur ist stärker als die Europäische Kommission, sie regeneriert sich selbst. Biodiversität gibt es seit Millionen von Jahren. Deshalb brauchen wir weder in der Landwirtschaft noch im Fischfang oder sonstwo EU-Naturalisierungsgesetze. Aber ich frage mich: Wo war und ist eigentlich der Schutz der Ozeane bei der Sprengung von Nord Stream 2 geblieben? Wo ist der akribische Wille der Kommission, diese Sprengung von Nord Stream 2 aufzuklären? Es ist schon sehr sonderbar, dass Brüssel hier nichts tut, obwohl doch sonst die Kommission den lieben langen Tag vom Grünen Deal träumt oder das böse CO2 jagt.

    Wenn wir über den Schutz der Ozeane sprechen, muss ich auch auf die Sanktionen gegen Russland zu sprechen kommen. Die Sanktionen sollten Russland treffen, gefährden aber mittlerweile unsere Ozeane, unsere Umwelt, weil Russland eben nicht untergeht, sondern seine Rohstoffe mit alten, rostigen Schiffen um den Globus schickt; ein schönes Beispiel dafür, wie sich die Kommission selbst ins Knie schießt, unter großem Applaus vieler Mitglieder dieses Hauses.

    Ja, wir müssen die Ozeane schützen, aber vor Sozialistischen, Grünen, Eurokraten. Deshalb sagen wir von der ESN: Wir stimmen guten Ideen zu, die praktikabel sind und vor allem wirtschaftlich; wir stimmen dem Statement in der großen Zielsetzung des Schutzes der Meere zu, aber wir lehnen die Blue-Economy-Basis ab: Sie sind nichts anderes als grüne Experimente und Utopien.

     
       

     

      Hélder Sousa Silva (PPE). – Senhora Presidente, Caro Comissário, Caros Colegas, o oceano é claramente um aliado indispensável para a União Europeia reforçar a sua competitividade em áreas estratégicas como a inovação, a segurança alimentar, a autonomia energética e a sustentabilidade ambiental. Por isso, digo que o Pacto Europeu para os Oceanos é uma grande oportunidade. A proteção das zonas costeiras e das comunidades piscatórias é um claro objetivo, mas também temos de assegurar uma justa remuneração para os profissionais.

    Elogio a delimitação, na passada semana, por parte dos Açores, da maior área marinha protegida da Europa, protegendo 30 % do seu mar. E, enquanto autarca, participei ativamente na delimitação da área marinha protegida da Ericeira, de Sintra e de Cascais, a primeira em Portugal, que envolveu ativamente a comunidade local na sua delimitação.

    Dada a relação intrínseca entre as nossas comunidades e os mares que nos circundam, direi que a preservação do eixo atlântico europeu é um desígnio de todos nós.

     
       

     

      André Rodrigues (S&D). – Senhora Presidente, Senhor Comissário, a União Europeia estabeleceu metas ambiciosas para a proteção de pelo menos 30 % das águas marinhas até 2030. Mas não tenhamos ilusões, isto só pode ser assegurado se garantirmos, de facto, o envolvimento de pescadores, comunidades pesqueiras, profissionais da aquicultura, ONG ambientais e demais agentes relevantes e se também assegurarmos as devidas compensações para que os profissionais das pescas não sejam vítimas deste processo.

    Saúdo, por isso, o exemplo da minha região, os Açores, que há dias aprovou o plano de reestruturação do setor da pesca, proposto pelo Partido Socialista, que prevê compensações a todos os profissionais afetados pela criação de áreas marinhas protegidas. Com um orçamento superior a 10 milhões de EUR para o período de 2025 a 2030, este plano acompanhará a implementação da proteção de 30 % do mar de uma das maiores zonas económicas exclusivas da Europa.

    Este é o exemplo que a União deve seguir, com a definição de um ambicioso fundo que acompanhe e financie um verdadeiro pacto para os oceanos.

     
       

     

      André Rougé (PfE). – Madame la Présidente, monsieur le Commissaire, chers collègues, l’outre-mer permet à la France, deuxième zone économique exclusive au monde, d’être au premier rang de la protection des océans: une priorité environnementale mondiale, dont les zones marines protégées sont l’élément le plus marquant.

    Aussi sommes-nous inquiets des menaces qui pèsent sur les îles Éparses, désormais revendiquées par Madagascar. Ces îles sont qualifiées de sanctuaires océaniques de la nature primitive. Elles sont les laboratoires de référence au niveau mondial pour étudier l’influence des changements climatiques, car elles sont vierges de toute présence humaine, ce qui en fait des modèles de naturalité.

    Il est indispensable que l’Union européenne soutienne fermement la souveraineté française sur les îles Éparses. Face à l’appétit dévorant d’une grande puissance mondiale et hégémonique qui instrumentalise la République de Madagascar dans l’océan Indien, comment l’Union européenne pourrait-elle se désintéresser de ce sanctuaire naturel? Comment l’Union européenne pourrait-elle se désintéresser, parmi ses îles, de celle qui, symboliquement, porte jusqu’à son nom – Europa?

    Dans cette partie du monde, personne n’est dupe de ce qui se cache derrière la prétention malgache à annexer les îles Éparses. Pour garantir l’avenir de ces territoires et leur biodiversité, l’Union européenne doit intégrer cette réalité géopolitique dans sa stratégie de protection des océans, mais aussi dans sa diplomatie.

     
       

     

      Ana Miranda Paz (Verts/ALE). – Senhora Presidente, venho de um país marítimo, a Galiza, um país do eixo atlântico europeu. Ali, temos duas reservas marinhas, duas áreas marinhas protegidas de interesse pesqueiro ou piscatório, também dito na nossa língua. A reserva marinha de Cedeira, que é uma verdadeira oportunidade, na qual o setor das pescas trabalha também na defesa do meio ambiente e na defesa de um recurso económico vital para o meu país.

    No meu país, que é rico em biodiversidade marinha, os governos estão contra as áreas marinhas protegidas. Preferem apoiar a macroeólica marinha, as empresas elétricas que não deixam benefícios, preferem que os marinheiros fiquem sem trabalho, para apoiar os macroparques eólicos.

    Senhor Comissário, como é possível que a Comissão Europeia proíba a pesca de fundo e, depois, permita, em áreas marinhas protegidas de especial interesse, que se metam estas macroelétricas a tirar os recursos e o peixe e a vida das nossas comunidades piscatórias, como é o caso de Cedeira?

     
       

     

      Per Clausen (The Left). – Fru formand! En af de største og mest vedvarende trusler mod vores havområder – beskyttede eller ej – er vandkvaliteten. Alt for mange steder ser vi, at den økologiske tilstand i havområderne ikke alene er dårlig, den forværres også hele tiden. Det behøver ikke at være sådan. For det er en udvikling, vi ved, hvordan vi kan gøre noget ved. Men det kræver, at vi tør tage fat i årsagerne. Det er den forurening, der kommer fra en industrialiseret landbrugsproduktion, kemikalieindustrien. Det er anvendelse af fiskeredskaber, som ødelægger havbunden. Og her mangler modet til at handle desværre ofte. Det gælder, selv når det er klart, at biodiversiteten i havene forværres år efter år. Et af de steder, hvor modet mangler, er i mit eget hjemland, Danmark. Her taler regeringen varmt om vandmiljøet, men nægter samtidig at implementere vandrammedirektivet på den rigtige måde, eller for den sags skyld at skride ind mod landbrugets udledning af pesticider og kvælstof eller den forurening, som stammer fra kemiske kemikalievirksomheder i Danmark, hvoraf en af dem ovenikøbet producerer pesticider, som er ulovlige at bruge i EU-landene. Vores have gisper bogstaveligt talt efter vejret. Fisk, havdyr og planter forsvinder, hvis EU og medlemsstaterne ikke forstår, at vores have har brug for alvorlig førstehjælp.

     
       


     

      Thomas Bajada (S&D). – Madam President, this is embarrassing. We are discussing the future of our ocean when the plenary has practically already ended, when most MEPs have already gone. Is this the attention our future deserves? This is a clear statement that our ocean, our future, is not a priority for the leadership of this Parliament.

    Dear colleagues – whoever is left – the ocean is in peril, with climate change, unruly destruction of our biodiversity and our fishers desperately trying to survive. It is vital to have a properly‑managed international network of marine protected areas, not just for biodiversity, but for the survival of our coastal communities that rely on a healthy ocean for their livelihood.

    We can’t let this failure continue. The time to act is now. Let us deliver an Ocean Pact that truly protects our ocean and safeguards our livelihood. Empty promises won’t cut it. We need binding targets like real funding, and the international political will to deliver, through marine protected areas, for our ocean, our communities and our future.

     
       

       

    Procedura “catch-the-eye”

     
       

     

      Niels Geuking (PPE). – Frau Präsidentin! Die Meere sind der größte Lebensraum auf Erden und bedrohter denn je: Klimawandel, Überfischung, auch die eigenen Fangflotten, Verschmutzung, Nährstoff- und Plastikeintrag – und wir schaden uns dadurch auch selbst. Wer Fisch in seinen ganz normalen Speiseplan integriert hat, nimmt am Ende von zwei Wochen knapp diese Plastikkarte Mikroplastik zu sich, also eine Kreditkarte Mikroplastik, weil die Meere dementsprechend verschmutzt sind.

    Wir sollten uns unter anderem auch kritischer mit den Fangquoten auseinandersetzen, um den Fischarten überhaupt eine echte Erholungschance zu ermöglichen und am Ende auch die Arbeitsplätze längerfristig zu sichern. Jedes zu späte Handeln wird seine Folgen mit sich bringen; siehe die Störe, den Aal, Dorsch, Kabeljau, Hering, Schellfisch, Heringshai, Dornhai, die Seezunge, Lachs, Meerforelle – und das waren nur Nord- und Ostsee.

    Aktuell bieten Offshore-Windparks einen der besten Schutzräume für viele Meerestiere, wie z. B. die Nordseegarnele – an sich ein trauriger Fakt. Effektiv wäre es auch, wenn wir einmal darüber sprechen würden, dass Haifischflossen ein großes Problem darstellen. Würde der Hai als Ganzes in einen europäischen Hafen einlaufen müssen, wäre das Problem wahrscheinlich gar nicht so groß. Insofern, einfache Regelung mit enormer Wirkung.

     
       

     

      Jean-Marc Germain (S&D). – Madame la Présidente, mes chers collègues, comment parler de la protection des océans sans évoquer la nécessaire protection des lanceurs d’alerte? Paul Watson croupit en prison depuis près de cent jours pour avoir voulu faire respecter le moratoire sur la pêche à la baleine. Nous devons nous battre pour sa liberté. Je me réjouis cette initiative de la Ville de Paris qui en a fait un citoyen d’honneur de la capitale de mon pays. J’appelle par ailleurs le président de la République à lui accorder la nationalité française, qu’il demande, et j’appelle de nouveau l’Union européenne à lui offrir la protection de la directive de 2019 sur la protection des personnes qui signalent des violations du droit de l’Union européenne.

    La liste des destructions à l’œuvre dans nos océans est aussi longue que le temps est court pour agir. Agir, c’est sortir de la pêche industrielle, c’est établir de vraies aires maritimes protégées, c’est adopter un moratoire sur les exploitations minières en eaux profondes, c’est bannir les polluants qui détruisent la vie marine, c’est garantir de puissants moyens financiers et de contrôle.

    Les océans sont vitaux pour la préservation du vivant. Mes chers collègues, protégeons-les!

     
       

     

      Pernando Barrena Arza (The Left). – Señora presidenta, en este punto sobre las amenazas persistentes a zonas marinas protegidas y comunidades costeras quiero llamar la atención de sus señorías sobre un proyecto para la construcción en Gernika (País Vasco) de un nuevo museo Guggenheim en plena reserva de la biosfera de Urdaibai, que es un estuario en la desembocadura del río Oca al mar Cantábrico, en el océano Atlántico.

    Estamos hablando de un proyecto que vulnera la legislación europea al plantearse en la marisma de Urdaibai, una Zona de Especial Protección para las Aves o ZEPA y, por lo tanto, parte de la Red Natura 2000. Por esta zona, declarada de especial protección, se estima que circularían alrededor de 140 000 visitantes anuales, según los promotores del museo, lo cual es absolutamente un sinsentido.

    Esta situación hace que el proyecto cuente con una enorme oposición de los habitantes del lugar, que exigen detener este proyecto porque creen que pone en riesgo una zona que debiera estar especialmente protegida y que necesita un plan de desarrollo acorde con el valor del entorno ambiental de Urdaibai.

    Queremos interpelar a la Comisión para que actúe en consecuencia, proteja los intereses medioambientales de los ciudadanos de la zona y no permita el deterioro absoluto de este espacio costero, protegido por una figura diseñada por la propia Comisión Europea como es la Red Natura 2000.

     
       

     

      Lukas Sieper (NI). – Frau Präsidentin, Hohes Haus! Zum Abschluss dieser Plenarwoche möchte ich noch einmal auf die Grundsätze hinweisen, die zu befolgen in diesem Haus wichtig ist. Ich weiß, ich selbst bin auch manchmal disruptiv, wenn es um die Gepflogenheiten des Parlaments geht, aber manche Dinge sollten wir doch auf jeden Fall hier befolgen.

    Eines davon ist es, die Wahrheit zu sprechen, und zwar die ganze Wahrheit, nicht nur einen Teil davon. Deswegen möchte ich auf eine Wahrheit eingehen, die der Kollege Droese vorhin angesprochen hat. Herr Kollege Droese von der rechtsextremen Partei AfD sagte, dass es schon immer klimatische Veränderungen auf der Welt gegeben hat, schon immer Veränderungen der Biodiversität gegeben hat.

    Ja, das stimmt, das bezweifelt auch keiner. Tatsache ist aber, dass diese Veränderungen in den letzten Jahren und Jahrzehnten in einem Ausmaß stattfinden, wie es das noch nie auf der Welt gegeben hat. Auch wenn der Kollege mir offensichtlich leider nicht zuhört – was schade ist an der Stelle –, möchte ich ihm trotzdem bewusst machen: Sie müssen immer die ganze Wahrheit betrachten, vor allen Dingen, wenn es um Themen des Klimawandels geht, wie den Schutz der Ozeane.

     
       

       

    (Fine della procedura “catch the eye”)

     
       

     

      Janusz Wojciechowski, Member of the Commission. – Madam President, honourable Members, thank you very much for all the inspiring contributions.

    The Commission has engaged with citizens, businesses, scientists, NGOs, cities, coastal communities and our international partners. They all expect us to act. Achieving a coherent and effectively‑managed EU network of marine protected areas will remain a high priority for the Commission. We need more marine protected areas and we need them to be truly protected through effective conservation measures.

    We have the awareness of our citizens, we have the knowledge and we have solutions. Now we need the political will, across Member States, to engage the dialogue, to strengthen the knowledge base, to support the innovations, to achieve full compliance with European law.

    Honourable Members, let’s secure together a better future for our ocean to the benefit of all of us.

    Pani Przewodnicząca! Jeszcze pozwolę sobie na zakończenie kilka słów powiedzieć w moim ojczystym języku polskim, bo padła tutaj wypowiedź jednego z Państwa, z panów posłów, że sankcje, którymi Unia Europejska obejmuje Rosję, są po to, żeby Rosja cierpiała. Otóż nie, one nie są po to, żeby Rosja cierpiała. One są po to, żeby nie cierpiała Ukraina, a w dalszej przyszłości, aby podobne cierpienie nie spotkało żadnego innego kraju, w tym mojego ojczystego kraju Polski.

     
       

     

      Presidente. – La discussione è chiusa.

     

    13. Explications de vote

     

      Presidente. – L’ordine del giorno reca le dichiarazioni di voto.

     

    13.1. Situation in Azerbaijan, violation of human rights and international law and relations with Armenia (RC-B10-0133/2024)


     

      Seán Kelly (PPE). – A Uachtaráin, ní ráiteas polaitiúil amháin é an tairiscint i gcomhair rúin ar an staid san Asarbaiseáin, ach ráiteas morálta. Ní mór dúinn freagairt ar ghlanadh eitneach na nAirméineach, ar ionsaí míleata leanúnach agus ar neamhaird gan náire na hAsarbaiseáine ar chearta an duine. Ní mór don Aontas Eorpach an daonlathas a chosaint, agus ní mór an smacht reachta agus na luachanna sin a urramú go leanúnach. Ní hamháin nach mór dúinn na gníomhaíochtaí sin a cháineadh, ach ní mór dúinn gníomhú ina leith freisin. Caithfimid an Asarbaiseáin a thabhairt chun cuntais. Úsáidimis an rún seo chun ár dtiomantas do chearta an duine a athdhearbhú, ní hamháin le briathar ach le gníomh. Agus anois freagróidh mé an fón.

     

    13.2. People’s Republic of China’s misinterpretation of the UN resolution 2758 and its continuous military provocations around Taiwan (RC-B10-0134/2024)


     

      Seán Kelly (PPE). – A Uachtaráin, thacaigh mé leis an rún seo toisc go bhfuil rannpháirtíocht fhiúntach tuillte ag an Téaváin i bhfóraim idirnáisiúnta. Cé go dtugtar aitheantas i rún 2758 na Náisiún Aontaithe i 1971 do Dhaon-Phoblacht na Síne, ní réitíonn sé stádas na Téaváine ná ní thugann sé ceannasacht don tSín ar an Téaváin. Tá ról ríthábhachtach ag an Téaváin, ar thír dhaonlathach bhríomhar í ar fud an domhain, ón gcúram sláinte go dtí an teicneolaíocht. Ba cheart a toghcháin shíochánta agus a dearcadh comhoibrithe domhanda a léiriú ina rannpháirtíocht le heagraíochtaí idirnáisiúnta amhail EDS agus ICAO. Ní hamháin go bhfuil sé cóir, ach tá sé riachtanach freisin go dtacaímid le rannpháirtíocht na Téaváine chun an dlí idirnáisiúnta agus an daonlathas a urramú.

     

    14. Approval of the minutes of the sitting and forwarding of texts adopted

     

      Presidente. – Il processo verbale della seduta odierna verrà sottoposto all’approvazione del Parlamento all’inizio della prossima seduta.

    Se non vi sono obiezioni, procedo alla trasmissione immediata delle risoluzioni approvate nella seduta odierna ai loro destinatari.

     

    15. Dates of forthcoming sittings

     

      Presidente. – La prossima tornata si svolgerà dal 13 al 14 novembre 2024 a Bruxelles.

     

    16. Closure of the sitting

       

    (La seduta è tolta alle 15.41)

     

    17. Adjournment of the session

     

      Presidente. – Dichiaro interrotta la sessione del Parlamento europeo.

    La seduta è tolta.

     

    MIL OSI Europe News

  • MIL-OSI Russia: HSE experts researched how AI specialists are trained

    Translation. Region: Russian Federation –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    Russian universities are noticeably differentiated in their training in the field of AI. More than half of all students in the AI profile are concentrated in 18 organizations that implement specialized programs and offer the most widespread and at the same time selective programs (about 4% of the surveyed organizations).

    In general, the selectivity of programs in the AI profile is higher than that of programs containing a module on AI, programs in the field of information technology (IT), and bachelor’s and specialist programs in general, and this applies to most large groups of specialties and areas of training. Programs in the field of AI in mathematical and technical sciences are distinguished by increased selectivity in the selection of applicants.

    A number of regions entered the leading groups (with indicator values above the Russian average) both in terms of student coverage by AI-focused programs and programs with an AI module. These include Moscow and St. Petersburg, Rostov, Vologda, Arkhangelsk, Chelyabinsk, Samara, Penza, and Moscow regions. The situation with AI technology training in the regions is directly affected by the degree of AI penetration into their economies. The inequality of opportunities for providing AI technology training is partly explained by the uneven territorial distribution of IT organizations engaged in the development of AI products. However, in a number of cases, the development of AI education significantly lags behind the level of AI implementation in the regional economy. This is due, in particular, to the use of ready-made solutions created by specialists from other constituent entities of the Russian Federation, which indicates that there is a demand for AI developments in such regions and a need to increase the training of their own personnel in the field of AI.

    The provision of teachers in the field of AI in the absolute majority of the universities under consideration exceeds 90%. At the same time, the gap in the values of the indicator between the universities that train specialized specialists is not so large as to conclude that the shortage of personnel plays a key role in their differentiation by the level of development of training in the field of AI. However, attention is drawn to the significantly higher level of shortage of personnel of the appropriate qualifications in universities that do not implement specialized programs, but have included AI modules in other programs. Thus, it can be assumed that organizations with experience in implementing specialized programs have formed teams of teachers of AI disciplines, while other universities have not yet fully succeeded in solving this problem.

    A specialized digital infrastructure — digital equipment and content — plays an important role in training highly qualified specialists in the field of AI. In all clusters of universities considered in the report, formed depending on the volume of training in AI-related programs, there is a shortage of digital resources, primarily in terms of computing power based on graphics accelerators, which are key for tasks related to AI. Universities with experience in training specialists in specialized programs are better provided with content than with equipment. Organizations that provide training only within the AI module are equipped with both approximately equally and, unfortunately, insufficiently.

    Universities that are just beginning to master the AI field have such a pronounced deficit of the digital resources necessary for this that it practically does not allow them to develop programs in the relevant profile and significantly complicates practice-oriented training within the AI modules. The lack of specialized digital infrastructure, therefore, can be the main obstacle to the development of training of specialists in the field of AI in universities.

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

    MIL OSI Russia News

  • MIL-OSI: Leading Independent Proxy Advisory Firm Glass Lewis Joins ISS in Recommending that Territorial Shareholders Vote “FOR” Merger with Hope Bancorp

    Source: GlobeNewswire (MIL-OSI)

    Glass Lewis Recognizes the Value Creation and Additional Upside that the Hope Bancorp Merger Provides to Territorial Shareholders

    Glass Lewis Acknowledges the Substantial Concerns and Risks Posed by Blue Hill’s Secrecy, Lack of Transparency and the Absence of Crucial, Material Information

    Glass Lewis Agrees with Board’s Decision Not to Consider the Blue Hill Preliminary Indication of Interest a Superior Proposal

    Territorial Board Urges Shareholders to Follow the Recommendations from Glass Lewis and ISS and Vote “FOR” the Hope Bancorp Merger TODAY

    HONOLULU, Oct. 25, 2024 (GLOBE NEWSWIRE) — Territorial Bancorp Inc. (NASDAQ: TBNK) (“Territorial” or the “Company”) today announced that leading independent proxy advisory firm Glass, Lewis & Co., LLC (“Glass Lewis”) has joined Institutional Shareholder Services (“ISS”) in recommending that Territorial shareholders vote “FOR” the Company’s pending merger with Hope Bancorp, Inc. (NASDAQ: HOPE) (“Hope Bancorp”).

    The Company’s Special Meeting of Stockholders to vote on the transaction is scheduled to be held on November 6, 2024 at 8:30am, Hawai‘i Time. Time is short. The Special Meeting is fast approaching. Territorial shareholders are urged to vote TODAY. Voting is simple. For more information, visit the Company’s website at https://www.territorialandhopecombination.com.

    Commenting on the Glass Lewis and ISS reports, Territorial issued the following statement:

    The Territorial Board of Directors and management team collectively own 9.2% of Territorial’s outstanding shares. We are confident that the Hope Bancorp transaction is the best path forward for Territorial, our shareholders, customers, employees and the local communities we serve. We have already voted all of our shares FOR the transaction, and we urge our fellow Territorial shareholders to join us and also follow the recommendations from the Territorial Board, Glass Lewis and ISS by voting FOR the Hope Bancorp transaction today.

    Glass Lewis stated in its October 24, 2024 reporti:

    On the favorable financial aspects associated with the Hope Bancorp merger:

    • “Since the merger consideration in the proposed Hope transaction solely comprises Hope shares, current Territorial shareholders will have the opportunity to benefit from ongoing participation in a profitable, enlarged bank that is expected to be better equipped, compared to Territorial on a standalone basis, to work through various challenges and headwinds amid an uncertain economic environment.”
    • “From a quantitative perspective, the results of the dividend discount model analysis performed by KBW suggest that the implied value of the proposed Exchange Ratio is relatively favorable.”

    On the uncertainty, risks and concerns associated with Blue Hill’s preliminary indication of interest, including its lack of financing, the secrecy of its investors and doubts about its ability to close a transaction at all:

    • “We also believe that, to date, Blue Hill has provided insufficient disclosures to the Board and to shareholders regarding key details of its proposal.”
    • “In our view, the lack of such crucial information, which Blue Hill insists on keeping confidential, coupled with the uncertainties connected with Blue Hill’s need to conduct due diligence to confirm its offer price, casts serious doubts as to the risks and closing certainty of Blue Hill’s proposed deal.”
    • “Blue Hill has not provided any form of supporting evidence as to why the Blue Hill Investors would not be considered as ‘acting in concert’ by the relevant regulatory authorities, which may validate the Board’s concerns regarding the complexity and uncertainties connected to the Blue Hill Proposal.”

    In affirming that the Territorial Board reached the right conclusion with respect to the Blue Hill preliminary indication of interest and the determination that it is not a superior proposal or likely to lead to a proposal that is superior to the Hope Bancorp transaction:

    • “any direct engagement between the Board and Blue Hill could be seen as a breach of the covenants in the Merger Agreement.”
    • “we ultimately believe the Board’s decision not to deem the Blue Hill Proposal a superior proposal to be the most prudent approach, particularly given Blue Hill’s lack of serious attempts to address the Board’s concerns regarding the uncertainties of the Blue Hill Proposal.”
    • “We acknowledge that the Blue Hill Proposal offers a meaningfully higher headline price to Territorial shareholders…However, we believe the Board has raised valid concerns regarding the uncertainty and significant conditionality of the Blue Hill Proposal.”
    Your Vote is Important

    Territorial Shareholders are Urged to Vote FOR the Hope Bancorp Merger TODAY.

    Voting is quick and easy.
    Vote well in advance of the Special Meeting on November 6, 2024 at 8:30 a.m. HST.

    Call toll-free:
    (888) 742-1305
    Banks and brokers should call:
    (516) 933-3100
    Email: info@laurelhill.com
    Electronically: www.proxyvote.com


    About Us

    Territorial Bancorp Inc., headquartered in Honolulu, Hawaiʻi, is the stock holding company for Territorial Savings Bank. Territorial Savings Bank is a state-chartered savings bank which was originally chartered in 1921 by the Territory of Hawaiʻi. Territorial Savings Bank conducts business from its headquarters in Honolulu, Hawaiʻi, and has 28 branch offices in the state of Hawaiʻi. For additional information, please visit https://www.tsbhawaii.bank/.

    Additional Information about the Hope Merger and Where to Find It

    In connection with the proposed Hope Merger, Hope has filed with the U.S. Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-4, containing the Proxy Prospectus, which has been mailed or otherwise delivered to Territorial’s stockholders on or about August 29, 2024, as supplemented September 12, 2024. Hope and Territorial may file additional relevant materials with the SEC. INVESTORS AND STOCKHOLDERS ARE URGED TO READ THE PROXY PROSPECTUS, AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR FURNISHED OR WILL BE FILED OR FURNISHED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. You may obtain any of the documents filed with or furnished to the SEC by Hope or Territorial at no cost from the SEC’s website at www.sec.gov.

    Forward-Looking Statements

    Some statements in this news release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to, among other things, expectations regarding the low-cost core deposit base, diversification of the loan portfolio, expansion of market share, capital to support growth, strengthened opportunities, enhanced value, geographic expansion, and statements about the proposed transaction being immediately accretive. Forward-looking statements include, but are not limited to, statements preceded by, followed by or that include the words “will,” “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates” or similar expressions. With respect to any such forward-looking statements, Territorial Bancorp claims the protection provided for in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties. Hope Bancorp’s actual results, performance or achievements may differ significantly from the results, performance or achievements expressed or implied in any forward-looking statements. The closing of the proposed transaction is subject to regulatory approvals, the approval of Territorial Bancorp stockholders, and other customary closing conditions. There is no assurance that such conditions will be met or that the proposed merger will be consummated within the expected time frame, or at all. If the transaction is consummated, factors that may cause actual outcomes to differ from what is expressed or forecasted in these forward-looking statements include, among things: difficulties and delays in integrating Hope Bancorp and Territorial Bancorp and achieving anticipated synergies, cost savings and other benefits from the transaction; higher than anticipated transaction costs; deposit attrition, operating costs, customer loss and business disruption following the merger, including difficulties in maintaining relationships with employees and customers, may be greater than expected; and required governmental approvals of the merger may not be obtained on its proposed terms and schedule, or without regulatory constraints that may limit growth. Other risks and uncertainties include, but are not limited to: possible further deterioration in economic conditions in Hope Bancorp’s or Territorial Bancorp’s areas of operation or elsewhere; interest rate risk associated with volatile interest rates and related asset-liability matching risk; liquidity risks; risk of significant non-earning assets, and net credit losses that could occur, particularly in times of weak economic conditions or times of rising interest rates; the failure of or changes to assumptions and estimates underlying Hope Bancorp’s or Territorial Bancorp’s allowances for credit losses; potential increases in deposit insurance assessments and regulatory risks associated with current and future regulations; the outcome of any legal proceedings that may be instituted against Hope Bancorp or Territorial Bancorp; the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the common stock of either or both parties to the proposed transaction; and diversion of management’s attention from ongoing business operations and opportunities. For additional information concerning these and other risk factors, see Hope Bancorp’s and Territorial Bancorp’s most recent Annual Reports on Form 10-K. Hope Bancorp and Territorial Bancorp do not undertake, and specifically disclaim any obligation, to update any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements except as required by law.

    Investor / Media Contacts:
    Walter Ida
    SVP, Director of Investor Relations
    808-946-1400
    walter.ida@territorialsavings.net


    i Permission to use quotes neither sought nor obtained

    The MIL Network

  • MIL-OSI Global: Playing in mud and dirt can boost your child’s immune system – here’s how

    Source: The Conversation – UK – By Samuel J. White, Associate Professor & Head of Projects, York St John University

    Being exposed to a diverse array of microbes in childhood helps ‘train’ the immune system. MNStudio/ Shutterstock

    With the popularity of CleanTok on social media, we’re constantly being reminded about how dirty everything around us is. But while you might feel you should disinfect every surface in your home or send your child off to school with antibacterial gels so their hands stay clean, science actually shows us that being exposed to a bit of dirt can be good for kids’ health.

    Evidence suggests that exposure to the microbes in dirt might actually help children develop stronger immune systems – and may even decrease their risk of developing allergies and autoimmune diseases.

    Mud is not just a mix of soil and water. It’s a complex ecosystem filled with microorganisms. One gram of soil can harbour up to 10 billion microorganisms – of potentially thousands of different species.

    The diverse array of bacteria, fungi and other microbes present in mud and soil play a crucial role in our health and is key to what immunologists call “immune training”. This is the process by which the immune system learns to distinguish between harmful pathogens and benign environmental substances.

    During childhood, the immune system is especially adaptable. When exposed to a wide variety of microbes, it learns to strike a balance – responding aggressively to harmful invaders while leaving harmless substances, such as pollen or food particles, alone.

    But a lack of such training could leave immune systems worse off.

    According to the “hygiene hypothesis”, as societies become more urbanised and sanitised, our immune systems are deprived of the microbial challenges they need to develop properly. This may cause the immune system to become hypersensitive, mistaking innocuous substances – such as pollen or dust – for dangerous invaders. This hypersensitivity can manifest as allergic conditions such as asthma, eczema or hay fever.

    Lack of microbial exposure, particularly in early childhood, may also increase the likelihood of developing common colds and other childhood illnesses due to the immune system not being properly trained to handle everyday pathogens.

    The lack of such immune training could potentially explain why children growing up in sanitised environments (such as cities with limited exposure to animals or nature) are up to 50% more likely to develop conditions such as asthma and food allergies. Their immune systems, unchallenged by natural microbial exposure, may overreact to harmless triggers.

    Immune training appears to be important for lowering risk of many conditions and childhood illnesses.
    MorphoBio/ Shutterstock

    And, without regular microbial interactions, the immune system may turn on the body itself – potentially contributing to the development of autoimmune conditions such as type 1 diabetes or multiple sclerosis. Research even shows that children raised in environments with high levels of microbial exposure – such as farms or homes with pets – are less likely to develop allergies or autoimmune diseases.

    There are many reasons why microbial exposure is so good for children’s developing immune systems. For instance, Bacteroides fragilies, which is commonly found in soil, helps produce a key molecule that’s important to immune function.

    Microbial exposure also helps children develop regulatory T cells – white blood cells that control how the immune system responds to foreign invaders. T cells also prevent autoimmune reactions. This may explains why a lack of microbial exposure may increase a person’s likelihood of developing an autoimmune condition (though this is just one of many contributing factors).

    Immune development

    Mud play is more than just a messy outdoor activity. It provides essential sensory experiences – such as touching, smelling and manipulating different textures – which stimulate brain development and enhance emotional resilience.

    Sensory activities (such as playing in mud) can reduce stress in children, which is another crucial element in maintaining a well-functioning immune system.

    Research also shows Mycobacterium vaccae, a type of bacteria commonly found in soil, is shown to reduce inflammation and even improve mood. It does this by influencing the release of serotonin, a key neurotransmitter. In animal studies, exposure to M vaccae has led to reduced symptoms of stress and anxiety. There’s emerging evidence that similar effects could occur in humans.

    In addition, playing outdoors is a form of physical activity, which further supports immune health by promoting better circulation and stimulating the production of immune cells.

    While some parents may worry about the hygiene risks of playing in mud, there are many things you can do to ensure your kids play outdoors safely:

    • Pick clean play areas: Ensure your child plays in areas unlikely to be contaminated by animal waste or harmful chemicals. Home gardens or parks are great options. If you’re unsure how clean an area may be, you can use a soil testing kit to check for harmful substances before play.
    • Dress for the mess: Waterproof clothing such as boots and jackets makes clean-up easier while still allowing children to experience the benefits of outdoor play.
    • Hand hygiene: Washing hands after playing in the mud helps prevent harmful bacteria from entering the body. This reduces the risk of infections while maintaining healthy exposure to microbes.
    • Repeat often: Repeated exposure to beneficial microbes is necessary in order to build a stronger immune system.

    Letting children get dirty by playing in mud could offer more than just fun – it may be an essential part of building a strong immune system. In a world that’s increasingly sanitised, embracing nature – dirt and all – might be exactly what our children’s immune systems need to thrive.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    ref. Playing in mud and dirt can boost your child’s immune system – here’s how – https://theconversation.com/playing-in-mud-and-dirt-can-boost-your-childs-immune-system-heres-how-241532

    MIL OSI – Global Reports

  • MIL-OSI: AI-Powered Firm HIVE PT Launches Global Talent Hunt with Competitive Challenges

    Source: GlobeNewswire (MIL-OSI)

    Photo by HIVE PT

    CASCAIS, Portugal, Oct. 25, 2024 (GLOBE NEWSWIRE) — HIVE PT, a global leader in proprietary trading, offers innovative trading challenges that attract top-tier talent worldwide. With the launch of its flagship trading programs, the HIVE Challenge and Queen Bee Challenge, HIVE PT is transforming how traders access capital and develop their skills.

    The company’s approach to proprietary trading combines advanced technology with a deep commitment to education, allowing traders to showcase their skills in a risk-free environment. Successful participants in these challenges gain access to capital ranging from $10,000 to $200,000, with the opportunity to earn up to an 80/20 profit split—making HIVE PT’s programs some of the most attractive in the industry.

    Creating Opportunities for Top Trading Talent

    HIVE PT’s proprietary trading model is built on the belief that talent should be rewarded and developed. Offering traders a chance to demonstrate their abilities without risking personal funds has attracted an international pool of talent. The firm’s flexible trading conditions, which include no time limits for completing challenges, have further enhanced its appeal.

    Traders from North America, Europe, and Asia have already taken advantage of the platform, with plans to expand into South America and the Middle East by 2025.

    “We’ve seen a tremendous response to our trading challenges, not just because of the profit potential, but because we’ve created a system that truly nurtures traders,” said Goni Shimi, CEO of HIVE PT. “Our platform is designed to reduce the stress associated with traditional trading evaluations, giving traders the time and space to succeed.”

    Market Trends and Projections

    Valued at over $150 billion, the global proprietary trading sector is expected to grow at a compound annual growth rate (CAGR) of 8.4% through 2030. This surge is driven by developments in algorithmic trading, artificial intelligence, and real-time data analytics—all areas where HIVE PT excels. Leveraging these technologies allows HIVE PT to enhance its own trading strategies and provides its traders with the right tools to stay competitive in the market.

    “What makes HIVE PT different is our integration of AI and machine learning to support traders,” says Goni Shimi. “Our platform doesn’t just give them the ability to trade—it helps them become better traders through data-driven insights and real-time performance tracking.”

    A Community-Driven Approach

    In addition to offering advanced trading tools and challenges, HIVE PT has made significant strides in creating a supportive community for traders. The firm’s online academy provides comprehensive educational resources, including courses, videos, and market analysis, helping traders at all levels improve their strategies. This commitment to education is a cornerstone of HIVE PT’s mission to foster a global network of successfully funded traders.

    As part of its medium-term goals, HIVE PT is focused on building a solid community of traders who can share insights and learn from one another. The company has also introduced a mentorship program, which pairs experienced traders with newcomers to the field, ensuring that traders have the guidance they need to master the complexities of financial markets.

    “Our goal is to create a platform where traders succeed financially and grow intellectually. We want to be known not just as a trading firm but as a place where traders come to learn, share, and thrive,” Goni Shimi says.

    The company is set to expand its global reach and influence. As proprietary trading continues to change, HIVE PT’s emphasis on transparency, education, and ethical trading practices will ensure its lasting impact on financial markets.

    “Our mission is simple: to provide traders with the resources and support they need to succeed. As the markets change, so will we, always staying ahead of the game,” Goni Shimi concludes.

    Visit HIVE PT’s website to learn more about its proprietary trading programs and educational resources.

    About HIVE PT

    HIVE PT is a proprietary trading firm that provides trading opportunities for skilled traders in various financial markets, including stocks, forex, and commodities. Focusing on education, transparency, and ethical trading practices, the company offers traders access to significant capital through its premium programs.

    Contact Information

    Contact Person: Goni Shimi, CEO
    Company: HIVE PT
    Email: support@HIVE-pt.com
    Website: https://HIVE-pt.com/

    Socials

    Instagram https://www.instagram.com/hiveproptrading/
    YouTube: https://www.youtube.com/channel/UC-gafpqu6nF4TH7gkLYDXIQ
    LinkedIn: https://www.linkedin.com/company/hive-pt/
    Trustpilot: https://www.trustpilot.com/review/hive-pt.com
    Facebook: https://www.facebook.com/profile.php?id=61560087040874
    Twitter: https://x.com/Hiveproptrading
    TikTok: https://www.tiktok.com/@hiveproptrading?lang=en
    Discord: https://discord.gg/YAH8tYBGGn
    WhatsApp: https://wa.me/351912881182

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ba866118-9111-4b49-bce0-f328fc7e3dce

    The MIL Network

  • MIL-OSI Russia: Polytechnic at the autumn educational exhibition in Hanoi “Russian Universities – the Best Choice”

    Translation. Region: Russian Federation –

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    Polytechnic University took part in an educational exhibition in Vietnam, which was held in Hanoi from October 21 to 25. The event was organized by the representative office of Rossotrudnichestvo in Hanoi as part of the long-term project “Universities of Russia” to popularize Russian education. Polytechnic University was represented by Deputy Head of the International Education Department Tatyana Sytnikova and specialist of the Department for Work with Foreign Students Ekaterina Pirkovska.

    The opening ceremony was attended by the Director of the Russian Center for Science and Culture in Hanoi Vladimir Murashkin, Counselor of the Russian Embassy in Vietnam, representative of the Ministry of Science and Higher Education of the Russian Federation Evgeny Mitrofanov, as well as representatives of 11 leading Russian educational institutions.

    Exhibitions help talented Vietnamese people to better navigate the educational space of Russia, and Russian universities to prepare for a meeting with Vietnamese students. The project “Universities of Russia” is actively expanding the partner network of Russian universities in Vietnam, which contributes to the development of scientific and educational cooperation between our countries, – emphasized Vladimir Murashkin.

    Representative of the Ministry of Science and Higher Education of the Russian Federation Evgeny Mitrofanov emphasized the importance of Russian higher education for Vietnamese students. He noted that studying in Russia opens up new horizons and opportunities, and also highlighted the possibility of receiving free education through scholarships from the Russian government.

    After the official part, more than 200 Vietnamese students and schoolchildren visited the Polytechnic stand, where they were consulted about the educational programs of bachelor’s, master’s and postgraduate studies at SPbPU, and told about dormitories and scholarships.

    The delegation of the Polytechnic University visited the Tran Phu Special School for Talented Children in Hai Phong, the Le Hong Phong Special School for Talented Children in Nam Dinh and the Hanoi University of Entrepreneurship and Technology. During the Polytechnic presentations, the children had a unique opportunity not only to get acquainted with the educational programs and admission conditions, but also to communicate with the university representatives, ask questions and clarify issues of interest to them.

    In addition, a meeting of delegations of Russian universities was held at the Ministry of Education and Personnel Training of the SRV, dedicated to further cooperation between universities of our country and Vietnamese universities. During this event, many agreements were signed aimed at deepening mutual understanding and cooperation in the field of higher education. Special attention was paid to training personnel in such areas as mathematics, economics, philology and Russian studies.

    Tatyana Sytnikova took part in a press conference with Vietnamese media at the Russian Center for Science and Culture in Hanoi. She emphasized the importance of the educational programs offered by the Polytechnic University for foreign applicants.

    The Polytechnic University offers foreign applicants unique educational programs in the fields of IT, artificial intelligence, linguistics, construction and building design, law, design, economics and management, and biotechnology. We are confident that high-quality education in these areas will open up new horizons and opportunities for a successful career for our students, said Tatyana Sytnikova.

    On the last day of the exhibition, an expert session entitled “University Consortia in Russia and the International Educational Space: Practice and Prospects” was held.

    Recently, we have been actively engaged in solving various issues of cooperation between Russia and Vietnam. As a society acting as a people’s diplomacy, we strive to help both our and your partners in establishing strong ties and contacts. We sincerely hope that cooperation between Vietnam and Russia will develop more and more actively every day, – noted the deputy chairman and secretary general of the Vietnamese-Russian Friendship Society, the main reactor of the Berezka magazine Nguyen Dang Phat.

    Educational exhibitions play a key role in establishing effective links between educational institutions and prospective students, providing a valuable platform for information exchange and broadening horizons. The exhibition in Vietnam was a great opportunity for young people to learn about the opportunities that Polytechnic University offers to international students. Such events not only help to popularize education abroad, but also greatly simplify the process of choosing an educational institution for those who are looking to gain quality education and international experience.

    Let us remind you that selection and competitive events have started for foreign applicants wishing to study at the Polytechnic University for free under the direction of the Ministry of Science and Higher Education of the Russian Federation (under a quota) in the next academic year. You can get up-to-date information about the dates of their holding in the English-language Polytech telegram channel.

    You can also apply for the first qualifying round of the international Open Doors Olympiad: Russian Scholarship project until November 20. From this year onwards, the winners will have the opportunity to enroll in the Polytechnic University’s bachelor’s, master’s and postgraduate programs without entrance examinations and study for free in the 2025–2026 academic year.

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

    MIL OSI Russia News

  • MIL-OSI: Ethical Web AI announces our new Chief Executive Officer – Manfred Ebensberger, with a shareholder update

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 25, 2024 (GLOBE NEWSWIRE) — Bubblr Inc., d/b/a Ethical Web AI (OTC: BBLR) – a frontrunner in ethical technology determined to revolutionize the digital domain, has announced its new CEO, Manfred Ebensberger.

    Before joining Bubblr, Mr. Ebensberger held senior roles in European investment firms, serving as Managing Director and Asset Manager for Ultra-High-Net-Worth Individuals (UHNWIs). He also served as CEO of a luxury Italian fashion brand in New York. Earlier in his career, Mr. Ebensberger was managing director for several US investment companies and an assistant professor at the University of Innsbruck, Austria. Manfred holds a degree from the University of Innsbruck, Austria, from the University of Venice, Italy and completed a certificate in General Business Studies at UCLA. He is a seasoned professional committed to the vision and direction of the company.

    Steve Morris, CTO and founder of Ethical Web AI remarked, “I am delighted to welcome Manfred as our CEO. Manfred is a highly experienced executive who has a proven track record as the CEO of a publicly listed company, which he led to a very successful buy-out. We have been speaking to Manfred for quite some time, and both parties are in agreement that Manfred is the perfect CEO at this critical point in the company’s development.”

    “Our biggest challenge has been our ability to describe succinctly what our platform does and why it is so revolutionary. Now that the platform is demonstrable, this makes our many years of work understandable, applicable and ultimately profitable. Manfred will lead us into the next stage of our revenue-positive corporate development. It has taken years in the making, but we are finally at a point where we have a product that will change the way we all use and utilize the internet.”

    “Our last press release in August 2024 made clear the massive significance of finally delivering our ethical Web Search (EWS) platform to the point where it is demonstrable. It has taken many years of development to build the EWS platform, and it is the technical manifestation of our US Patent 10977387, which has been independently valued at $4.7bn. Manfred’s role is to oversee the next stage of Ethical Web AI’s development to realize its true potential and value as the world’s most innovative technology company. Our current plans are extremely ambitious, and we are confident that Manfred is the CEO we need to deliver them. They include the following key objectives:”

    Raising substantial new investment capital

    Within the next six months, we plan to raise significant new investment capital. This capital is required to transform the company from a technology development company to a fast-growing, revenue-driven business. There are many conversations currently underway with a number of important investors that we expect to be concluded in the next few months.

    Significantly increase revenue from AI Seek.

    Our generative AI product, AI Seek, is capable of generating significant revenues and is very profitable. We intend to sign a distribution and marketing contract in the next few weeks that will deliver very significant new revenues before the end of the year.

    We already consider AI Seek to be demonstrably superior to Chat GPT in many ways. In particular, AI Seek is unique in that it is totally anonymous for consumers to use. This unique aspect of AI Seek allows us to develop a version of AI Seek that can be safely used by children under direct parental control. A “child-safe” generative AI application will obviously be hugely popular.

    Oversee the rollout of the EWS platform to our first pilot projects.

    We are currently negotiating with a number of potential community licensees to pilot our EWS platform. There are three candidates, and all three are very keen to be the first early adopter. Again, we will be signing our first deal in the next few weeks, and we will make announcements as they happen. The pilot project(s) will provide the necessary learnings required to automate the onboarding of new licensees to the platform entirely. Once we have fully automated the onboarding process, we will begin the global adoption of the product using the tried and tested open-source SaaS model.

    Organic uplist to Nasdaq in 2025

    We have a strategic plan to organically uplist Nasdaq in 2025. In order to qualify for Nasdaq, we need revenues and adequate cash reserves in the bank. The cash reserves will be secured primarily through further external investment capital. Both the revenues and the capital raise are eminently achievable.

    The Nasdaq uplist provides a number of significant benefits for the company and its shareholders. We are certain that we have the most significant and valuable technology that the world has ever witnessed. However, hardly anyone has ever heard of the company. The Nasdaq uplist delivers much more visibility of the company and its products. It provides a platform to showcase our company to both the investment community and retail users.

    Pursue our expected exit plan through acquisition.

    The founder and CTO, Steve Morris, has always maintained that the most likely final exit strategy would be that it would be acquired (or its critical assets acquired) by a global technology business to ensure its global adoption. Ethical Web AI is more like a startup pharmaceutical company that has developed a world-beating drug. Such a company knows it will be acquired by one of the global pharma giants. However, acquisition opportunities were not expected to arise before we were uplisted to Nasdaq. In recent developments, a major technology company has expressed interest in communicating with the company regarding potential future alliances.

    It is clear that our new CEO, Manfred Ebensberger, has a lot to do in the next few months, but he has the complete suite of expertise, knowledge and full support of everyone in the company to help him deliver. We expect to issue many more press releases in the coming weeks.

    About Ethical Web AI:
    Ethical Web AI is an ethical technology company that is championing an anonymous, safe, and fair new internet. We are producing unique intellectual property and technology that is made defensible by our valuable utility software patents.

    Visit the new AI Seek website at: https://www.aiseek.ai.

    If you are an AI Seek user, make sure to add desktop integration by going to the page https://desktop.aiseek.ai/

    For more information about our Company and products, please visit our website at https://www.ethicalweb.ai.

    Media Contact:
    Steve Morris
    Bubblr, Inc.
    (646) 814 7184

    Safe Harbor Statement
    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company’s current plans and expectations, as well as future results of operations and financial condition. The Company reserves the right to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

    The MIL Network

  • MIL-OSI Global: Debates about Columbus’ Spanish Jewish ancestry are not new − the claim was once a bid for social acceptance

    Source: The Conversation – USA – By Devin Naar, Associate Professor of History and Jewish Studies and Chair of the Sephardic Studies Program, University of Washington

    ‘Landing of Columbus,’ by John Vanderlyn. Architect of the Capitol via Wikimedia Commons

    In connection to Columbus Day and Indigenous Peoples Day, media from the BBC and Fox to Reuters and Haaretz reported on new DNA evidence about the holiday’s original namesake. According to research revealed in a recent Spanish documentary, Christopher Columbus was not Italian, as widely assumed, but Sephardic: of Spanish Jewish lineage.

    About 1 in 5 people in Spain and Portugal today may indeed be of “converso” origin: descendants of Jews or Muslims who converted to Catholicism, often under threat of death or expulsion. Regardless of whether Columbus was genealogically Jewish, though, there is scant evidence that he considered himself to be Jewish in any meaningful way. After all, he wrote approvingly of the Spanish king and queen’s decision to expel Jews from Spain in 1492.

    The claim that Columbus may have been of Spanish Jewish descent is by no means certain; the “new” research has not yet been published in any academic journals. What’s more, it’s far from new.

    The debate over the origins of the New World’s “discoverer” stretch back more than a century, to a time when Columbus was more routinely hailed as a hero – whereas today, he is remembered as the man who initiated European settler colonialism in the Americas and the genocide of Indigenous peoples. For decades, some Spanish and American Jewish activists claimed that Columbus was a Sephardic Jew.

    One of their own

    At the turn of the 20th century, new immigrant groups in the U.S. were seeking acceptance as part of dominant white American society. Spaniards, Jews, Italians and Greeks seized claims that Columbus was one of their own, hoping to combat prejudice that they faced. By linking themselves to the progenitor of white “civilization” in the Americas, they sought to secure their own position on the white side of the color line, with the privileges and protections that status bestowed.

    A poster for the Italian-American Exposition of 1892 in Genoa, Italy – often thought to be Columbus’ birthplace.
    Twice25 via Wikimedia Commons, CC BY-SA

    U.S. President Benjamin Harrison instituted Columbus Day in 1892, initially as a one-time holiday. The event was meant to celebrate Italian American contributions to society – partly as an apology, following the lynching of 11 Italian immigrants in New Orleans. Decades later, in 1934, President Franklin Delano Roosevelt rendered Columbus Day a federal holiday, even as the U.S. government continued to impose a quota on Italian immigration.

    Early claims about Columbus or members of his entourage being Sephardic Jews also emerged in 1892 – the 400th anniversary of the conquerer’s arrival. Oscar Straus, a Jewish American diplomat, commissioned Meyer Kayserling, a rabbi and scholar, to research Jews’ role in the age of conquest. While Kayserling’s book did not say Columbus himself was of Jewish origin, it claimed that many people connected to his voyages were, including an interpreter named Luis de Torres and funder Luis de Santagel. Straus hoped that highlighting Jewish contributions to American society would curtail rising antisemitism in the United States.

    Spanish strategy

    In contrast, Spanish claims about Columbus as a Sephardic Jew sought to elevate Spain’s own international image. After its 1898 defeat in the Spanish-American War, Spain lost its possessions in the Western Hemisphere and ceased to be a major European colonial power. A cohort of Spanish writers and artists, known loosely as the Generation of ’98, produced an outpouring of cultural creativity grappling with Spain’s new position.

    Some politicians and intellectuals drew on economic and cultural arguments to court descendants of Jews expelled from Spain in 1492, whom they viewed as having preserved the Spanish language, and thus providing a new source of influence in the Mediterranean region. Ultimately, the Spanish government issued a decree in 1924 that rendered these descendants eligible for citizenship – an offer it renewed from 2015-2021.

    Raquel Venitura and Moise Cohen were wed in Madrid in 1930, the first Hebrew marriage ceremony in Spain since the Inquisition.
    Bettmann via Getty Images

    Spanish intellectuals became the first to claim that Columbus was a Sephardic Jew, hoping to further elevate Spain’s status, in the wake of the losses of 1898, as the trailblazer of European civilization in the Americas. By World War I, scholar Celso Garcia de la Riega published a theory that not only some of Columbus’ crew had Spanish Jewish origins, but Columbus himself. Nobel Prize nominee Salvador de Madariaga endorsed the theory of Columbus’ Jewish origins in his 1940 book on Don Cristobal Colón.

    Crucial moment

    The rise of Nazism heightened discussion among American Jews about Columbus and brought Sephardic Jews themselves into the debate – hoping that a connection to the explorer would temper rising antisemitism.

    Sephardic Jews also hoped that if Columbus were recognized as one of their own, Ashkenazi Jews, the dominant Jewish group in the United States, would be more likely to treat them with respect. Sephardic Jews coming from the Ottoman Empire – one of the primary places their ancestors sought refuge after Spain – were often maligned as “uncivilized” and “uncultured” due to their associations with the Muslim world.

    As Spanish and Portuguese Jews were the first practicing Jews to come to the Americas, Sephardic Jews arriving from the Ottoman Empire at the turn of the 20th century hoped to hitch their story to the grandeur of the country’s first Jewish communities.

    In 1933, American Jewish writer Maurice David purported to offer Spanish archival evidence to demonstrate Columbus’ Spanish Jewish bona fides. While David was not Sephardic himself, the Sephardic Jewish community in New York advertised his book’s “sensational” claims in La Vara, a newspaper written in Ladino, the main Sephardic language, also called Judeo-Spanish.

    Sephardic men in Seattle, around 1918.
    University of Washington via Wikimedia Commons

    The most prominent Sephardic exponent of the theory was the former editor of La Amerika, the first Ladino newspaper published in the U.S. During the Second World War, Moise Gadol published a booklet in English called “Christopher Columbus was a Spanish-Jew.”

    Gadol sought to elevate the status of his own community of Jews from the Ottoman Empire. By demonstrating links to Columbus, he hoped that all Sephardic Jews – not only those early Spanish and Portuguese Jews who came to the Americas during the colonial period – would be associated with Europe rather than the “Orient,” and with being “white” rather than “brown.”

    Gadol also sought to exert pressure on the American public and government to loosen the quotas preventing Jews fleeing Nazi persecution from entering the United States. Two years before, in 1939, the government had rejected all 900 passengers aboard the SS St. Louis, who were forced to return to Europe – an infamous manifestation of the policy.

    Gadol’s dubious claims about Columbus, however, did not produce the desired results. Sephardic Jews continued to be marginalized within the broader American Jewish community. Meanwhile, immigration quotas based on nationality – in effect until 1965 – continued to prevent Jewish refugees from finding safe haven in the U.S.

    Then … and now

    A century ago, embracing Columbus – and the sweeping colonization he represents – was a way for marginalized immigrant groups to claim a sense of belonging as part of the dominant white caste in American society.

    Today, it provokes uncomfortable questions. especially claims about Columbus as a Jew. Fixating on his ancestry reinforces the racial blood logic of the Spanish Inquisition, according to which a person was considered Jewish or Muslim based on descent alone – to say nothing of the racial logic of Nazi Germany or the Jim Crow South.

    What’s more, the emphasis on Columbus’ personal genealogy distracts from the actual geopolitical forces at play, such as empire building and resource extraction, that propelled Europe’s conquest and mass violence.

    As discussions about antisemitism intensify in the U.S. and across the world, perhaps the idea that Columbus was “Jewish” – a conquistador who initiated the destruction of Indigenous peoples – only aggravates the problem.

    Devin Naar does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Debates about Columbus’ Spanish Jewish ancestry are not new − the claim was once a bid for social acceptance – https://theconversation.com/debates-about-columbus-spanish-jewish-ancestry-are-not-new-the-claim-was-once-a-bid-for-social-acceptance-242003

    MIL OSI – Global Reports

  • MIL-OSI: AIST and QuEra Sign Memorandum of Understanding to Strengthen Collaboration Toward Commercial Use of Quantum Computers

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, Oct. 25, 2024 (GLOBE NEWSWIRE) — QuEra Computing, the leader in neutral-atom quantum computing, today announced that on September 6th, it signed a Memorandum of Understanding (MOU) with the National Institute of Advanced Industrial Science and Technology (AIST) to strengthen their collaboration towards the advancement and industrialization of quantum technology. This agreement builds on an April 2024 contract, under which QuEra will deliver a state-of-the-art quantum computer to Japan, installed on-premises alongside AIST’s NVIDIA-powered ABCI-Q supercomputer.

    As part of this new collaboration, QuEra will establish and operate a cloud-based platform, providing remote access to the quantum computer for researchers, collaborators, and external users. This platform will seamlessly integrate with AIST’s high-performance computing (HPC) infrastructure, including the ABCI-Q supercomputer.

    The collaboration will promote the development of a hybrid environment between ABCI-Q, a function of Global Research and Development Center for Business by Quantum-AI Technology (G-QuAT) and QuEra Computing’s neutral atom quantum computer. Additionally, the applicability of optical materials and components necessary for the hardware development of next generation neutral atom quantum computers will be tested. This effort aims not only to scale up and enhance the performance of quantum computers but also to standardize processes to strengthen future supply chains.

    As the demand for the industrialization of quantum technology continues to grow, the enhanced cooperation between the two institutions is expected to lead to new technological advancements and market creation.

    About QuEra
    QuEra Computing is the leader in developing and productizing quantum computers using neutral atoms, widely recognized as a highly promising quantum computing modality. Based in Boston and built on pioneering research from Harvard University and MIT, QuEra operates the world’s largest publicly accessible quantum computer, available over a major public cloud and for on-premises delivery. QuEra is developing useful, scalable and fault-tolerant quantum computers to tackle classically intractable problems, becoming the partner of choice in the quantum field. Simply put, QuEra is the best way to quantum. For more information, visit us at quera.com and follow us on X or LinkedIn.

    About AIST
    The National Institute of Advanced Industrial Science and Technology (AIST), headquartered in Tokyo, Japan, is one of the country’s largest public research organizations. AIST dedicates itself to bridging innovative technological seeds with commercial applications, enhancing industry and societal welfare.

    Media Contact
    Merrill Freund
    press@quera.com
    +1-415-577-8637

    The MIL Network

  • MIL-OSI Russia: Dmitry Chernyshenko: Universities participating in the Priority 2030 program have concluded over 6,000 contracts worth 62 billion rubles with industrial partners

    Translation. Region: Russian Federation –

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

    Previous news Next news

    Dmitry Chernyshenko visited Ulyanovsk State University – a participant of the Priority-2030 program

    Universities participating in the Priority 2030 program have concluded more than 6,000 contracts worth 62 billion rubles with industrial partners. This was reported by Deputy Prime Minister Dmitry Chernyshenko, commenting on the implementation of the largest program for the development of Russian universities.

    “Universities participating in the Priority 2030 program have actively joined in solving problems aimed at ensuring our country’s technological leadership, one of the national goals outlined by President Vladimir Putin. Thus, they are building and strengthening partnerships with enterprises in the real sector. Over two and a half years, more than 420 consortiums have been created within the program, uniting universities, research organizations, and businesses. More than 6,000 agreements have been concluded with industrial partners for a total of more than 62 billion rubles. This joint work is aimed at conducting research, creating new technologies and products, and improving production processes,” the Deputy Prime Minister said.

    Examples of the consortium’s successful work include a joint project of MSTU Stankin, the A.A. Blagonravov Institute of Mechanical Engineering of the Russian Academy of Sciences, the V.A. Trapeznikov Institute of Control Sciences of the Russian Academy of Sciences, the Professor N.E. Zhukovsky Central Aerohydrodynamic Institute, SPbGMTU, Roscosmos State Corporation, Rosneft Oil Company, Shvabe, Mil and Kamov Scientific and Production Center, Technological Center, and USC. Together, the university, research institutes, and businesses are working to create and implement technologies in mechanical engineering.

    The most important task of Priority 2030 is to train highly qualified personnel to meet economic demands, noted the head of the Russian Ministry of Education and Science, Valery Falkov.

    “Within the framework of Priority 2030, network programs are actively developing, which imply the organization of training using the resources of several universities, with the participation of representatives of the real sector of the economy. This is an effective tool for improving the quality of training specialists in the regions. Since 2021, more than 380 network educational programs have been operating,” he said.

    As an example of such work, the Minister cited the program of the Transbaikal State University and the Moscow Institute of Physics and Technology, which jointly train personnel for the mining industry. Students undergo practical training at the facilities of one of the country’s leading gold mining companies, Highland Gold, which was the initiator and partner of the track.

    Another successful example is the first program for artificial intelligence researchers in Russia, which was launched this year, combining the expertise of four of the strongest universities and the experience of high-tech companies. We are talking about the course prepared by ITMO, MIPT, HSE and Innopolis University together with Yandex and Sber. Its main difference is its focus on developing new fundamental models, architecture and machine learning algorithms. In the future, these guys will be at the forefront of new technologies.

    Also, within the framework of the Priority-2030 program, over 500 laboratories equipped with modern full-cycle equipment have been created to train strong specialists. For example, the St. Petersburg State University of Aerospace Instrumentation has an aerospace micromechanics laboratory, which trains students in the field of design and testing of micromechanical devices that solve aerospace navigation problems. The equipment can be used to carry out research and development work at the request of industrial partners.

    Universities participating in Priority 2030 are talking about some of their developments at the PriorityFest2024 festival, which is taking place on October 24–25 at MGIMO.

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

    MIL OSI Russia News

  • MIL-OSI: EduEdge Introduces Formula-Style Method, Changing English Mastery for Struggling Students

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Oct. 25, 2024 (GLOBE NEWSWIRE) — EduEdge is proud to announce its Formula-Style method, designed to transform the way struggling students master English. Despite English being Singapore’s first language, many students struggle with deeper aspects of the language, such as comprehension, written expression and critical thinking. This proficiency gap affects not only their English grades but also their performance in other subjects. Research highlights a strong link between English language proficiency and academic achievement in areas like Maths and Science, underscoring the importance of mastering English for well-rounded academic success.

    From left to right: Angela’s mum, brother, EduEdge Founders: Edwin Edangelus Cheng and Rowena May Yue, Angela Ray Oh

    Traditional teaching methods often fall short of helping students achieve true language mastery. As English is the most widely spoken language globally, this lack of holistic proficiency concerns parents who want their children to excel, not just in exams but in life. EduEdge addresses this challenge through a revolutionary approach to English education.

    Pioneered by founder Edwin Edangelus Cheng, EduEdge developed the groundbreaking Formula-Style method, designed to take the guesswork out of English learning. Backed by years of educational research, this structured approach goes beyond exam preparation by equipping students with the critical language skills and deep understanding necessary for lifelong success. By breaking down complex language concepts into easy-to-apply formulas, EduEdge empowers students to excel academically while mastering the communication skills essential for future professional achievements.

    Edwin Edangelus Cheng’s personal journey resonates with many parents and students. “I once was like your child,” Edwin shares, recalling his struggles with English as a student from a Chinese-speaking family. His experience and years as a public school teacher, where he taught both English and Physics, inspired him to find structured methods for language learning.

    “I saw how students approached learning English,” Edwin explains. “They often rely on intuition without the structure or proper articulation needed for true mastery. In Physics, we see results quickly because of its formula and steps. I wondered, could the same formula-style approach work for English?” This question led to the development of EduEdge’s Formula-Style method, offering a more structured and methodical way to teach and learn English.

    What makes the Formula-Style method different is its ability to break down English learning into easy-to-apply and easy-to-remember formulas, similar to Maths and Science. This system, known as the Total English Mastery System (TEMS), helps students learn English in a faster, smarter and more effective way. Over the past 10 years, TEMS has helped more than 3,500 students from over 150 schools across Singapore improve by at least two grades, with many achieving high Bs and As in English and General Paper (GP) exams. Students who started with borderline or failing grades found success by mastering six core language skills—Vocabulary, Grammar, Reading, Writing, Listening and Speaking.

    The impact of the Formula-Style method is shown in the stories of students who have experienced notable success. One such example is Angela Ray Oh, who, like many others, struggled with English during secondary school and was stuck at a C6 grade despite her determination. Her breakthrough came in Sec 4 when her mum enrolled her in EduEdge. After learning structured techniques, Angela’s approach to English transformed, leading her to score an A2 for her O-Levels.

    The benefits of these techniques extended beyond secondary school. While studying at Nanyang Technological University (NTU), Angela was awarded the Lee Kuan Yew (LKY) STEP Award, a highly competitive scholarship. The application process required writing two essays within 48 hours. Drawing on the writing techniques and critical thinking skills she gained at EduEdge, Angela crafted her submissions with confidence and aced both essays and the interview, demonstrating how EduEdge’s method equips students for real-world success.

    This success is no coincidence. EduEdge’s Formula-Style method is powerful, but its true impact is realised through the exceptional educators who bring it to life. The highly qualified and passionate teachers at EduEdge are rigorously selected, ensuring that the method is delivered to its full potential. This combination of structured techniques and top-tier teaching creates a transformative learning experience that drives students’ success.

    Every journey at EduEdge begins with a Diagnostic Consultation Assessment (DCA) involving both parents and students. This personalised session provides a clear and quantifiable understanding of the child’s current abilities and identifies specific areas that need improvement. Many parents believe misconceptions like, “My child speaks English, but their test results aren’t great,” or “My child reads a lot, but the results aren’t improving.” The DCA dispels these misconceptions by pinpointing underlying issues in comprehension, writing or critical thinking. This tailored approach allows EduEdge to develop a plan for effective improvement, ensuring more conducive learning.

    Parental involvement is a key aspect of the EduEdge approach. Regular feedback is provided via email, based on detailed marking of the child’s submitted work. This ensures parents stay up to date on their child’s progress. Post-lesson consultations are also available to address any specific concerns.

    Committed to continuous innovation, EduEdge keeps refining its methods to ensure students receive quality education not just for exams but for lifelong success. As part of its forward-thinking approach, EduEdge is exploring the use of AI and cutting-edge technology to personalise learning for every student further and extend educational support beyond the classroom. These tools will help create a more adaptive learning environment that tracks progress, identifies areas for improvement in real time and provides tailored resources.

    Additionally, EduEdge is expanding its reach with care, ensuring that high teaching quality is never diluted while maintaining accessibility for students and parents. With existing branches in Serangoon and Bukit Timah, EduEdge is set to open a new branch in Marine Parade, further increasing accessibility across Singapore while upholding the high standards that has made it one of the country’s leading English tuition specialists.

    Experience the EduEdge difference today. Book a complimentary 60-minute DCA using the coupon code ELSUCCESS. Give your child, aged 10 to 18 (or Primary 4 to Junior College 2), the personalised support they need to improve their English skills and excel academically.

    Media Contact

    Edwin Edangelus Cheng

    EduEdge English & GP Specialists

    Website: https://eduedge.com.sg/DCA/

    WhatsApp: https://wa.link/q77cvq

    Email: admin@eduedge.com.sg

    The MIL Network

  • MIL-OSI Economics: Meeting the moment: Microsoft’s 2024 Impact Summary

    Source: Microsoft

    Headline: Meeting the moment: Microsoft’s 2024 Impact Summary

    In the past year, we’ve witnessed remarkable examples of how AI can be applied to address some of the world’s most difficult problems—problems that until recently, we accepted as unsolvable either because the scale was too enormous (monitoring the health of the Amazon rainforest) or because getting powerful technology into the hands of everyday people was too expensive (diagnostic tools to detect disease in remote areas).

    But it turns out that when you enable teams of scientists and engineers to develop creative AI-driven solutions designed and implemented with the input of local communities, governments, private companies, and NGOs, the results are astonishingly effective and efficient.

    At Microsoft, we know that AI is going to be the driving, transformative force in the effort to bring education, healthcare, and opportunity to everyone, everywhere. But to realize our mission of empowering every person and every organization on the planet to achieve more in this AI era, we need to bring AI and the infrastructure that supports it to the areas of the world that were left behind in prior industrial revolutions.

    That’s why, in addition to making AI investments in the past year in places like Australia, the UK, Germany, France, and the United States, we also went to Indonesia, Malaysia, Thailand, Kenya, Mexico, and Brazil. We aren’t doing this alone; we are partnering with governments, private companies, and NGOs to build infrastructure that will result in carbon-negative, water positive data centers as well as skilling courses to create meaningful employment.

    None of this works without trust. Our business runs on trust, and it’s earned through an overriding commitment to security built into our products, openness to regulation, and transparency. This report details how we’re living up to our exacting standards in expanding opportunity, building trust, protecting fundamental rights, and advancing sustainability. There’s much more to do, but with AI and the collaborative power of billions of people worldwide, we will continue to tackle tough problems and solve them together.

    MIL OSI Economics

  • MIL-OSI: Fentura Financial, Inc. Announces Third Quarter 2024 Earnings (unaudited)

    Source: GlobeNewswire (MIL-OSI)

    Dollars in thousands except per share amounts. Certain items in the prior period financial statements have been reclassified to conform with the September 30, 2024 presentation.

    FENTON, Mich., Oct. 25, 2024 (GLOBE NEWSWIRE) — Fentura Financial, Inc. (OTCQX: FETM) announces quarterly net income results of $867 and $5,637 for the three and nine months ended September 30, 2024, respectively.

    Ronald L. Justice, President and CEO, stated, “We ended the 2024 third quarter with record total assets, deposits, and shareholders’ equity. These results are a testament to the continued hard work of our team members, and the local value we provide our Michigan communities. During the third quarter, we announced a merger with ChoiceOne Financial Services, Inc., pursuant to which ChoiceOne and Fentura will merge in an all-stock transaction. Once completed, the combination will create the third largest publicly traded bank in Michigan with approximately $4.3 billion in consolidated total assets and 56 offices in Western, Central and Southeastern Michigan. We continue to expect to close the transaction in the first quarter of 2025, subject to the satisfaction of customary closing conditions and regulatory approvals.”

    Following is a discussion of our financial performance as of, and for the three and nine months ended September 30, 2024. At the end of this document is a list of abbreviations and acronyms.

    Results of Operations (unaudited)
    The following table outlines our QTD results of operations and provides certain performance measures as of, and for the three months ended:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    INCOME STATEMENT DATA                    
    Interest income   $ 22,194     $ 21,487     $ 21,541     $ 21,033     $ 20,416  
    Interest expense     10,202       9,650       9,315       8,526       7,757  
    Net interest income     11,992       11,837       12,226       12,507       12,659  
    Credit loss expense (reversal)     1,203       796       (43 )     (190 )     (309 )
    Noninterest income     2,210       2,314       2,355       2,145       2,338  
    Noninterest expenses     11,974       10,921       11,166       10,121       10,594  
    Federal income tax expense     158       454       668       937       937  
    Net income   $ 867     $ 1,980     $ 2,790     $ 3,784     $ 3,775  
    PER SHARE                    
    Earnings   $ 0.19     $ 0.44     $ 0.63     $ 0.85     $ 0.85  
    Dividends   $ 0.11     $ 0.11     $ 0.11     $ 0.10     $ 0.10  
    Tangible book value(1)   $ 30.51     $ 29.84     $ 29.38     $ 28.92     $ 27.64  
    Quoted market value                    
    High   $ 40.00     $ 24.39     $ 27.20     $ 27.20     $ 23.74  
    Low   $ 22.16     $ 22.33     $ 24.00     $ 22.26     $ 19.10  
    Close(1)   $ 39.07     $ 22.50     $ 24.40     $ 27.20     $ 23.74  
    PERFORMANCE RATIOS                    
    Return on average assets     0.19 %     0.45 %     0.63 %     0.86 %     0.86 %
    Return on average shareholders’ equity     2.37 %     5.59 %     7.98 %     11.11 %     11.27 %
    Return on average tangible shareholders’ equity     2.54 %     5.98 %     8.55 %     11.94 %     12.14 %
    Efficiency ratio     84.31 %     77.17 %     76.58 %     69.08 %     70.64 %
    Yield on average earning assets (FTE)     5.17 %     5.18 %     5.15 %     5.06 %     4.92 %
    Rate on interest bearing liabilities     3.28 %     3.22 %     3.11 %     2.90 %     2.66 %
    Net interest margin to average earning assets (FTE)     2.80 %     2.85 %     2.92 %     3.01 %     3.05 %
    BALANCE SHEET DATA(1)                    
    Total investment securities   $ 99,724     $ 100,167     $ 103,210     $ 107,615     $ 109,543  
    Gross loans   $ 1,442,389     $ 1,459,929     $ 1,461,465     $ 1,473,471     $ 1,483,720  
    Allowance for credit losses   $ 14,700     $ 15,300     $ 15,300     $ 15,400     $ 15,400  
    Total assets   $ 1,807,370     $ 1,756,629     $ 1,764,629     $ 1,738,952     $ 1,744,939  
    Total deposits   $ 1,470,586     $ 1,427,059     $ 1,438,408     $ 1,394,182     $ 1,401,797  
    Borrowed funds   $ 179,970     $ 178,397     $ 178,500     $ 198,500     $ 201,050  
    Total shareholders’ equity   $ 146,398     $ 143,301     $ 141,074     $ 138,702     $ 132,902  
    Net loans to total deposits     97.08 %     101.23 %     100.54 %     104.58 %     104.75 %
    Common shares outstanding     4,495,005       4,490,087       4,484,447       4,470,871       4,466,221  
    QTD BALANCE SHEET AVERAGES                    
    Total assets   $ 1,797,307     $ 1,762,651     $ 1,771,614     $ 1,740,526     $ 1,739,510  
    Earning assets   $ 1,708,177     $ 1,669,862     $ 1,683,708     $ 1,649,091     $ 1,646,848  
    Interest bearing liabilities   $ 1,237,665     $ 1,204,370     $ 1,205,162     $ 1,165,064     $ 1,156,835  
    Total shareholders’ equity   $ 145,240     $ 142,577     $ 140,574     $ 135,157     $ 132,860  
    Total tangible shareholders’ equity   $ 135,959     $ 133,252     $ 131,204     $ 125,723     $ 123,349  
    Earned common shares outstanding     4,466,951       4,461,580       4,449,376       4,443,463       4,437,415  
    Unvested stock grants     26,500       26,500       31,821       26,018       26,668  
    Total common shares outstanding     4,493,451       4,488,080       4,481,197       4,469,481       4,464,083  
    ASSET QUALITY                    
    Nonperforming loans to gross loans (1)     0.71 %     0.66 %     0.39 %     0.38 %     0.24 %
    Nonperforming assets to total assets (1)     0.58 %     0.56 %     0.34 %     0.35 %     0.23 %
    Allowance for credit losses to gross loans (1)     1.02 %     1.05 %     1.05 %     1.05 %     1.04 %
    Net charge-offs (recoveries) to QTD average gross loans     0.12 %     0.05 %     %   (0.01)%   (0.03)%
    Credit loss expense (reversal) to QTD average gross loans     0.08 %     0.05 %     %   (0.01)%   (0.02)%
    CAPITAL RATIOS(1)                    
    Total capital to risk weighted assets     12.48 %     12.38 %     12.27 %     11.91 %     11.59 %
    Tier 1 capital to risk weighted assets     11.42 %     11.28 %     11.17 %     10.82 %     10.51 %
    CET1 capital to risk weighted assets     10.40 %     10.28 %     10.17 %     9.83 %     9.53 %
    Tier 1 leverage ratio     8.78 %     8.92 %     8.78 %     8.77 %     8.58 %
                         
    (1)At end of period                    

    The following table outlines our YTD results of operations and provides certain performance measures as of, and for the nine months ended (unaudited):

        9/30/2024   9/30/2023   9/30/2022   9/30/2021   9/30/2020
    INCOME STATEMENT DATA                    
    Interest income   $ 65,222     $ 58,648     $ 41,438     $ 35,161     $ 34,355  
    Interest expense     29,167       19,561       3,122       2,091       4,952  
    Net interest income     36,055       39,087       38,316       33,070       29,403  
    Credit loss expense (reversal)     1,956       132       2,258       (218 )     4,652  
    Noninterest income     6,879       7,126       7,997       11,092       15,190  
    Noninterest expenses     34,061       32,547       30,870       27,815       23,939  
    Federal income tax expense     1,280       2,689       2,616       3,328       3,271  
    Net income   $ 5,637     $ 10,845     $ 10,569     $ 13,237     $ 12,731  
    PER SHARE                    
    Earnings   $ 1.26     $ 2.45     $ 2.39     $ 2.86     $ 2.73  
    Dividends   $ 0.33     $ 0.3     $ 0.27     $ 0.24     $ 0.225  
    Tangible book value(1)   $ 30.51     $ 27.64     $ 25.22     $ 26.53     $ 23.50  
    Quoted market value                    
    High   $ 40.00     $ 24.10     $ 29.25     $ 27.40     $ 26.00  
    Low   $ 22.16     $ 18.70     $ 23.00     $ 21.90     $ 12.55  
    Close(1)   $ 39.07     $ 23.74     $ 23.00     $ 25.75     $ 16.93  
    PERFORMANCE RATIOS                    
    Return on average assets     0.42 %     0.85 %     0.95 %     1.36 %     1.45 %
    Return on average shareholders’ equity     5.27 %     11.15 %     11.71 %     14.55 %     15.79 %
    Return on average tangible shareholders’ equity     5.64 %     12.03 %     12.75 %     15.00 %     16.40 %
    Efficiency ratio     79.33 %     70.43 %     66.66 %     62.98 %     53.68 %
    Yield on average earning assets (FTE)     5.17 %     4.84 %     3.99 %     3.83 %     4.12 %
    Rate on interest bearing liabilities     3.20 %     2.35 %     0.49 %     0.37 %     0.93 %
    Net interest margin to average earning assets (FTE)     2.86 %     3.23 %     3.69 %     3.60 %     3.52 %
    BALANCE SHEET DATA(1)                    
    Total investment securities   $ 99,724     $ 109,543     $ 129,886     $ 138,476     $ 78,179  
    Gross loans   $ 1,442,389     $ 1,483,720     $ 1,350,851     $ 1,015,177     $ 1,060,885  
    Allowance for credit losses   $ 14,700     $ 15,400     $ 12,200     $ 10,500     $ 10,100  
    Total assets   $ 1,807,370     $ 1,744,939     $ 1,588,592     $ 1,329,300     $ 1,284,845  
    Total deposits   $ 1,470,586     $ 1,401,797     $ 1,345,209     $ 1,144,291     $ 1,061,470  
    Borrowed funds   $ 179,970     $ 201,050     $ 116,600     $ 50,000     $ 96,217  
    Total shareholders’ equity   $ 146,398     $ 132,902     $ 121,630     $ 124,809     $ 114,081  
    Net loans to total deposits     97.08 %     104.75 %     99.51 %     87.80 %     98.99 %
    Common shares outstanding     4,495,005       4,466,221       4,434,937       4,569,935       4,691,142  
    YTD BALANCE SHEET AVERAGES                    
    Total assets   $ 1,777,188     $ 1,710,941     $ 1,485,489     $ 1,297,657     $ 1,171,415  
    Earning assets   $ 1,687,249     $ 1,620,015     $ 1,391,179     $ 1,230,553     $ 1,116,861  
    Interest bearing liabilities   $ 1,215,731     $ 1,111,687     $ 858,600     $ 748,472     $ 711,449  
    Total shareholders’ equity   $ 142,796     $ 130,068     $ 120,704     $ 121,659     $ 107,711  
    Total tangible shareholders’ equity   $ 133,470     $ 120,482     $ 110,792     $ 117,991     $ 103,712  
    Earned common shares outstanding     4,459,303       4,428,963       4,425,818       4,630,709       4,665,951  
    Unvested stock grants     28,274       28,530       25,462       21,088       13,966  
    Total common shares outstanding     4,487,577       4,457,493       4,451,280       4,651,797       4,679,917  
    ASSET QUALITY                    
    Nonperforming loans to gross loans (1)     0.71 %     0.24 %     0.12 %     0.82 %     0.07 %
    Nonperforming assets to total assets (1)     0.58 %     0.23 %     0.12 %     0.63 %     0.06 %
    Allowance for credit losses to gross loans (1)     1.02 %     1.04 %     0.90 %     1.03 %     0.95 %
    Net charge-offs (recoveries) to YTD average gross loans     0.18 %   (0.03)%     0.05 %     0.02 %     0.03 %
    Credit loss expense (reversal) to YTD average gross loans     0.13 %     0.01 %     0.19 %   (0.02)%     0.44 %
    CAPITAL RATIOS(1)                    
    Total capital to risk weighted assets     12.48 %     11.59 %     10.96 %     13.63 %     15.57 %
    Tier 1 capital to risk weighted assets     11.42 %     10.51 %     10.07 %     12.64 %     14.40 %
    CET1 capital to risk weighted assets     10.40 %     9.53 %     9.04 %     11.33 %     12.77 %
    Tier 1 leverage ratio     8.78 %     8.58 %     8.91 %     10.21 %     9.86 %
                         
    (1)At end of period                    

    Income Statement Breakdown and Analysis

        Quarter to Date
        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Net income   $ 867     $ 1,980     $ 2,790     $ 3,784     $ 3,775  
    Acquisition related items (net of tax)                    
    Other acquisition related expenses     753                          
    Amortization of core deposit intangibles     35       34       36       60       60  
    Total acquisition related items (net of tax)     788       34       36       60       60  
    Other nonrecurring items (net of tax)                    
    Proxy contest related expenses                              
    Prepayment penalties collected     (24 )     (40 )     (58 )     (85 )     (29 )
    Total other nonrecurring items (net of tax)     (24 )     (40 )     (58 )     (85 )     (29 )
    Adjusted net income from operations   $ 1,631     $ 1,974     $ 2,768     $ 3,759     $ 3,806  
                         
    Net interest income   $ 11,992     $ 11,837     $ 12,226     $ 12,507     $ 12,659  
    Prepayment penalties collected     (31 )     (51 )     (73 )     (107 )     (37 )
    Adjusted net interest income   $ 11,961     $ 11,786     $ 12,153     $ 12,400     $ 12,622  
                         
    PERFORMANCE RATIOS                    
    Based on adjusted net income from operations                    
    Earnings per share   $ 0.37     $ 0.44     $ 0.62     $ 0.85     $ 0.86  
    Return on average assets     0.36 %     0.45 %     0.63 %     0.86 %     0.87 %
    Return on average shareholders’ equity     4.47 %     5.57 %     7.92 %     11.03 %     11.37 %
    Return on average tangible shareholders’ equity     4.77 %     5.96 %     8.49 %     11.86 %     12.24 %
    Efficiency ratio     77.45 %     77.15 %     76.65 %     69.06 %     70.31 %
                         
    Based on adjusted net interest income                    
    Yield on average earning assets (FTE)     5.16 %     5.17 %     5.13 %     5.03 %     4.91 %
    Rate on interest bearing liabilities     3.28 %     3.22 %     3.11 %     2.90 %     2.66 %
    Net interest margin to average earning assets (FTE)     2.79 %     2.84 %     2.90 %     2.98 %     3.04 %
                         
        Year to Date September 30   Variance
          2024       2023     Amount   %
    Net income   $ 5,637     $ 10,845     $ (5,208 )   (48.02)%
    Acquisition related items (net of tax)                
    Other acquisition related expenses     753             753     N/M
    Amortization of core deposit intangibles     105       180       (75 )   (41.67)%
    Total acquisition related items (net of tax)     858       180       678     376.67 %
    Other nonrecurring items (net of tax)                
    Proxy contest related expenses           413       (413 )   (100.00)%
    Prepayment penalties collected     (122 )     (133 )     11     (8.27)%
    Total other nonrecurring items (net of tax)     (122 )     280       (402 )   (143.57)%
    Adjusted net income from operations   $ 6,373     $ 11,305     $ (4,932 )   (43.63)%
                     
    Net interest income   $ 36,055     $ 39,087     $ (3,032 )   (7.76)%
    Prepayment penalties collected     (155 )     (169 )     14     (8.28)%
    Adjusted net interest income   $ 35,900     $ 38,918     $ (3,018 )   (7.75)%
                     
    PERFORMANCE RATIOS                
    Based on adjusted net income from operations                
    Earnings per share   $ 1.43     $ 2.55     $ (1.12 )   (43.92)%
    Return on average assets     0.48 %     0.88 %       (0.40)%
    Return on average shareholders’ equity     5.96 %     11.62 %       (5.66)%
    Return on average tangible shareholders’ equity     6.38 %     12.55 %       (6.17)%
    Efficiency ratio     77.08 %     69.06 %       8.02 %
                     
    Based on adjusted net interest income                
    Yield on average earning assets (FTE)     5.16 %     4.83 %       0.33 %
    Rate on interest bearing liabilities     3.20 %     2.35 %       0.85 %
    Net interest margin to average earning assets (FTE)     2.85 %     3.22 %       (0.37)%
                     

    Average Balances, Interest Rate, and Net Interest Income

    The following tables present the daily average amount outstanding for each major category of interest earning assets, nonearning assets, interest bearing liabilities, and noninterest bearing liabilities. These tables also present an analysis of interest income and interest expense for the periods indicated. All interest income is reported on a FTE basis using a federal income tax rate of 21%. Loans in nonaccrual status, for the purpose of the following computations, are included in the average loan balances.

    Net interest income is the amount by which interest income on earning assets exceeds the interest expenses on interest bearing liabilities. Net interest income, which includes loan fees, is influenced by changes in the balance and mix of assets and liabilities and market interest rates. We exert some control over these factors; however, FRB monetary policy and competition have a significant impact. For analytical purposes, net interest income is adjusted to a FTE basis by adding the income tax savings from interest on tax exempt loans, and nontaxable investment securities, thus making period-to-period comparisons more meaningful.

        Three Months Ended
        September 30, 2024   June 30, 2024   September 30, 2023
        Average Balance   Tax Equivalent Interest   Average Yield / Rate   Average Balance   Tax Equivalent Interest   Average Yield / Rate   Average Balance   Tax Equivalent Interest   Average Yield / Rate
    Interest earning assets                                    
    Total loans   $ 1,450,371     $ 19,599   5.38 %   $ 1,462,362     $ 19,550   5.38 %   $ 1,477,343     $ 19,170   5.15 %
    Taxable investment securities     89,175       335   1.49 %     89,751       350   1.57 %     101,549       397   1.55 %
    Nontaxable investment securities     10,580       57   2.14 %     11,059       62   2.25 %     12,670       70   2.19 %
    Interest earning cash and cash equivalents     148,872       2,023   5.41 %     97,511       1,331   5.49 %     43,865       594   5.37 %
    Federal Home Loan Bank stock     9,179       192   8.32 %     9,179       207   9.07 %     11,421       199   6.91 %
    Total earning assets     1,708,177       22,206   5.17 %     1,669,862       21,500   5.18 %     1,646,848       20,430   4.92 %
                                         
    Nonearning assets                                    
    Allowance for credit losses     (15,282 )             (15,300 )             (15,503 )        
    Premises and equipment, net     13,514               13,964               15,210          
    Accrued income and other assets     90,898               94,125               92,955          
    Total assets   $ 1,797,307             $ 1,762,651             $ 1,739,510          
                                         
    Interest bearing liabilities                                    
    Interest bearing demand deposits   $ 460,256     $ 4,054   3.50 %   $ 429,141     $ 3,745   3.51 %   $ 416,500     $ 3,230   3.08 %
    Savings deposits     261,620       416   0.63 %     266,731       408   0.62 %     290,939       429   0.59 %
    Time deposits     336,570       3,865   4.57 %     330,024       3,756   4.58 %     248,389       2,280   3.64 %
    Borrowed funds     179,219       1,867   4.14 %     178,474       1,741   3.92 %     201,007       1,818   3.59 %
    Total interest bearing liabilities     1,237,665       10,202   3.28 %     1,204,370       9,650   3.22 %     1,156,835       7,757   2.66 %
                                         
    Noninterest bearing liabilities                                    
    Noninterest bearing deposits     402,274               405,985               435,398          
    Accrued interest and other liabilities     12,128               9,719               14,417          
    Shareholders’ equity     145,240               142,577               132,860          
    Total liabilities and shareholders’ equity   $ 1,797,307             $ 1,762,651             $ 1,739,510          
    Net interest income (FTE)       $ 12,004           $ 11,850           $ 12,673    
    Net interest margin to earning assets (FTE)           2.80 %           2.85 %           3.05 %
                                         
        Nine Months Ended
        September 30, 2024   September 30, 2023
        Average Balance   Tax Equivalent Interest   Average Yield / Rate   Average Balance   Tax Equivalent Interest   Average Yield / Rate
    Interest earning assets                        
    Total loans   $ 1,461,289     $ 58,758   5.37 %   $ 1,464,959     $ 55,749   5.09 %
    Taxable investment securities     91,041       1,044   1.53 %     106,158       1,250   1.57 %
    Nontaxable investment securities     11,200       186   2.22 %     13,403       227   2.26 %
    Interest earning cash and cash equivalents     114,540       4,673   5.45 %     24,484       955   5.21 %
    Federal Home Loan Bank stock     9,179       600   8.73 %     11,011       515   6.25 %
    Total earning assets     1,687,249       65,261   5.17 %     1,620,015       58,696   4.84 %
                             
    Nonearning assets                        
    Allowance for credit losses     (15,328 )             (15,290 )        
    Premises and equipment, net     13,957               15,342          
    Accrued income and other assets     91,310               90,874          
    Total assets   $ 1,777,188             $ 1,710,941          
                             
    Interest bearing liabilities                        
    Interest bearing demand deposits   $ 436,997     $ 11,358   3.47 %   $ 385,316     $ 7,927   2.75 %
    Savings deposits     266,883       1,237   0.62 %     312,762       1,336   0.57 %
    Time deposits     331,113       11,265   4.54 %     196,838       4,595   3.12 %
    Borrowed funds     180,738       5,307   3.92 %     216,771       5,703   3.52 %
    Total interest bearing liabilities     1,215,731       29,167   3.20 %     1,111,687       19,561   2.35 %
                             
    Noninterest bearing liabilities                        
    Noninterest bearing deposits     408,449               455,069          
    Accrued interest and other liabilities     10,212               14,117          
    Shareholders’ equity     142,796               130,068          
    Total liabilities and shareholders’ equity   $ 1,777,188             $ 1,710,941          
    Net interest income (FTE)       $ 36,094           $ 39,135    
    Net interest margin to earning assets (FTE)           2.86 %           3.23 %
                             

    Volume and Rate Variance Analysis

    The following table sets forth the effect of volume and rate changes on interest income and expense for the periods indicated. For the purpose of this table, changes in interest due to volume and rate were determined as follows:

    Volume – change in volume multiplied by the previous period’s rate.
    Rate – change in the FTE rate multiplied by the previous period’s volume.

    The change in interest due to both volume and rate has been allocated to volume and rate changes in proportion to the relationship of the absolute dollar amounts of the change in each.

        Three Months Ended   Three Months Ended   Nine Months Ended
        September 30, 2024   September 30, 2024   September 30, 2024
        Compared To   Compared To   Compared To
        June 30, 2024   September 30, 2023   September 30, 2023
        Increase (Decrease) Due to   Increase (Decrease) Due to   Increase (Decrease) Due to
        Volume   Rate   Net   Volume   Rate   Net   Volume   Rate   Net
    Changes in interest income                                    
    Total loans   $ 49     $     $ 49     $ (1,847 )   $ 2,276     $ 429     $ (227 )   $ 3,236     $ 3,009  
    Taxable investment securities     (2 )     (13 )     (15 )     (47 )     (15 )     (62 )     (175 )     (31 )     (206 )
    Nontaxable investment securities     (2 )     (3 )     (5 )     (12 )     (1 )     (13 )     (37 )     (4 )     (41 )
    Interest earning cash and cash equivalents     825       (133 )     692       1,424       5       1,429       3,672       46       3,718  
    Federal Home Loan Bank stock           (15 )     (15 )     (161 )     154       (7 )     (137 )     222       85  
    Total changes in interest income     870       (164 )     706       (643 )     2,419       1,776       3,096       3,469       6,565  
                                         
    Changes in interest expense                                    
    Interest bearing demand deposits     380       (71 )     309       359       465       824       1,162       2,269       3,431  
    Savings deposits     (25 )     33       8       (147 )     134       (13 )     (258 )     159       (99 )
    Time deposits     158       (49 )     109       922       663       1,585       4,001       2,669       6,670  
    Borrowed funds     9       117       126       (896 )     945       49       (1,265 )     869       (396 )
    Total changes in interest expense     522       30       552       238       2,207       2,445       3,640       5,966       9,606  
    Net change in net interest income (FTE)   $ 348     $ (194 )   $ 154     $ (881 )   $ 212     $ (669 )   $ (544 )   $ (2,497 )   $ (3,041 )
                                         
        Average Yield/Rate for the Three Months Ended
        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Total earning assets   5.17 %   5.18 %   5.15 %   5.06 %   4.92 %
    Total interest bearing liabilities   3.28 %   3.22 %   3.11 %   2.90 %   2.66 %
    Net interest margin to earning assets (FTE)   2.80 %   2.85 %   2.92 %   3.01 %   3.05 %
                         
        Quarter to Date Net Interest Income (FTE)
        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Interest income   $ 22,194     $ 21,487     $ 21,541   $ 21,033     $ 20,416  
    FTE adjustment     12       13       14     14       14  
    Total interest income (FTE)     22,206       21,500       21,555     21,047       20,430  
    Total interest expense     10,202       9,650       9,315     8,526       7,757  
    Net interest income (FTE)   $ 12,004     $ 11,850     $ 12,240   $ 12,521     $ 12,673  
                         

    Noninterest Income

        Three Months Ended
        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Service charges and fees                    
    Trust and investment services     619       607       641       433       572  
    ATM and debit card     541       545       512       549       568  
    Service charges on deposit accounts     163       162       140       211       244  
    Total     1,323       1,314       1,293       1,193       1,384  
    Net gain on sales of residential mortgage loans     211       177       143       96       164  
    Net gain on sales of commercial loans     133       98       296       226        
    Change in fair value of equity investments     33       (3 )     (10 )     42       (28 )
    Changes in the fair value of MSR     (175 )     (44 )     (96 )     (108 )     119  
    Other                    
    Mortgage servicing fees     389       386       394       398       398  
    Change in cash surrender value of corporate owned life insurance     206       207       204       192       181  
    Other     90       179       131       106       120  
    Total     685       772       729       696       699  
    Total noninterest income   $ 2,210     $ 2,314     $ 2,355     $ 2,145     $ 2,338  
                         
    Memo items:                    
    Residential mortgage operations   $ 425     $ 519     $ 441     $ 386     $ 681  
        Nine Months Ended September 30   Variance
          2024       2023     Amount   %
    Service charges and fees                
    Trust and investment services   $ 1,867     $ 1,704     $ 163     9.57 %
    ATM and debit card     1,598       1,669       (71 )   (4.25)%
    Service charges on deposit accounts     465       686       (221 )   (32.22)%
    Total     3,930       4,059       (129 )   (3.18)%
    Net gain on sales of residential mortgage loans     531       523       8     1.53 %
    Net gain on sales of commercial loans     527       95       432     454.74 %
    Change in fair value of equity investments     20       (29 )     49     (168.97)%
    Changes in the fair value of MSR     (315 )     218       (533 )   (244.50)%
    Other                
    Mortgage servicing fees     1,169       1,210       (41 )   (3.39)%
    Change in cash surrender value of corporate owned life insurance     617       531       86     16.20 %
    Other     400       519       (119 )   (22.93)%
    Total     2,186       2,260       (74 )   (3.27)%
    Total noninterest income   $ 6,879     $ 7,126     $ (247 )   (3.47)%
                     
    Memo items:                
    Residential mortgage operations   $ 1,385     $ 1,951     $ (566 )   (29.01)%
                     

    Residential Mortgage Operations

    Residential mortgage operations includes net gains on sales of loans, changes in the fair value of mortgage servicing rights, and mortgage servicing fees.

    Net gain on sales of residential mortgage loans represents the income earned on the sale of residential mortgage loans into the secondary market. Although elevated interest rates and limited inventories have significantly driven down the volume of new originations and refinancing activity, we continue to actively sell residential mortgage loans into the secondary market. During the third quarter of 2024, residential mortgage originations sold into the secondary market totaled $10,722.

    Changes in the fair value of MSR are highly correlated to changes in interest rates and prepayment speeds. During the third quarter of 2024, the fair value of the servicing portfolio decreased primarily due to a decline in the size of the servicing portfolio, as the portfolio declined by $4,741. Mortgage servicing rights are expected to continue to decline due to likely further reductions in the size of our servicing portfolio as paydowns and maturities are expected to outpace new originations.

    Mortgage servicing fees includes the fees earned for servicing loans that have been sold into the secondary market. The annual decrease in mortgage servicing fees is directly related to the size of the serviced portfolio. Due to reduced levels of secondary market originations and prepayments, the serviced loan portfolio declined by $22,584, or 3.58%, since September 30, 2023. We expect mortgage servicing fees to trend modestly downward in future periods due to decreased secondary market originations.

    All Other Noninterest Income

    Trust and investment services includes income earned from contracts with customers to manage assets for investment and/or to transact on their accounts through the wealth management and trust department. Trust services and wealth management fees are subject to market fluctuations and interest rate changes. We expect trust and investment services fees to modestly increase in future periods.

    ATM and debit card income represents fees earned on ATM and debit card transactions. We expect these fees to approximate current levels in 2024.

    Service charges on deposit accounts includes fees earned from deposit customers for transaction-based charges, account maintenance and overdraft services. These charges have declined in 2024 due to a reduced level of NSF fees charged to customers based on regulatory guidance and overall industry trends. Service charges on deposit accounts are expected to approximate current levels throughout the remainder of the year.

    Net gain on sales of commercial loans represents the income earned from the sale of commercial loans into the secondary market. Throughout 2024, we sold the guaranteed portion of select SBA loans. We anticipate this strategy to continue throughout the remainder of the year.

    Change in cash surrender value of corporate owned life insurance is expected to modestly increase throughout 2024.

    Other includes miscellaneous other income items, none of which are individually significant.

    Noninterest Expenses

        Three Months Ended
        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Compensation and benefits   $ 5,839   $ 5,842   $ 6,066   $ 5,521   $ 5,592
    Professional services     799     963     894     695     726
    Furniture and equipment     668     689     727     696     668
    Occupancy     622     605     623     610     591
    Data processing     751     490     547     505     576
    Loan and collection     349     425     322     301     232
    Advertising and promotional     312     337     348     139     506
    Other                    
    Acquisition related expenses     953                
    FDIC insurance premiums     275     327     299     270     330
    ATM and debit card     214     188     171     158     153
    Telephone and communication     95     86     109     103     115
    Amortization of core deposit intangibles     44     44     45     76     75
    Other general and administrative     1,053     925     1,015     1,047     1,030
    Total     2,634     1,570     1,639     1,654     1,703
    Total noninterest expenses   $ 11,974   $ 10,921   $ 11,166   $ 10,121   $ 10,594
                         
        Nine Months Ended
    September 30
      Variance
          2024     2023   Amount   %
    Compensation and benefits   $ 17,747   $ 16,876   $ 871     5.16 %
    Professional services     2,656     2,729     (73 )   (2.67)%
    Furniture and equipment     2,084     2,079     5     0.24 %
    Occupancy     1,850     1,815     35     1.93 %
    Data processing     1,788     1,654     134     8.10 %
    Loan and collection     1,096     929     167     17.98 %
    Advertising and promotional     997     1,466     (469 )   (31.99)%
    Other                
    Acquisition related expenses     953         953     N/M
    FDIC insurance premiums     901     861     40     4.65 %
    ATM and debit card     573     493     80     16.23 %
    Telephone and communication     290     334     (44 )   (13.17)%
    Amortization of core deposit intangibles     133     227     (94 )   (41.41)%
    Other general and administrative     2,993     3,084     (91 )   (2.95)%
    Total     5,843     4,999     844     16.88 %
    Total noninterest expenses   $ 34,061   $ 32,547   $ 1,514     4.65 %
                     

    Compensation and benefits includes salaries, commissions and incentives, employee benefits, and payroll taxes. Compensation and benefits has increased in 2024 due to an increase in the size of the organization, merit increases, and market based adjustments. We expect a modest increase in overall compensation and benefits throughout the remainder of 2024.

    Professional services include expenses relating to third-party professional services. These services include, but are not limited to, regulatory, auditing, consulting, and legal. Professional services expenses are expected to approximate current levels in future periods.

    Furniture and equipment and occupancy expenses primarily consist of depreciation, repairs and maintenance, certain service contracts, and other related items. These expenses are expected to approximate current levels throughout the remainder of 2024.

    Data processing primarily includes the expenses relating to our core data processor. The increase in data processing in the third quarter of 2024 is primarily due to the loss of incentive credits from our core data processor following our proposed merger announcement. Data processing expenses are expected to modestly increase throughout 2024 due to annual contractual increases from our core data processor.

    Loan and collection includes expenses related to the origination and collection of loans. The increase in such expenses in 2024 is due to increased levels of home ownership grants. Loan and collection expenses are expected to approximate current levels in future periods as loan growth is expected to approximate current levels.

    Advertising and promotional expenses includes media costs and any donations or sponsorships. These expenses also include marketing efforts to attract new and expand existing customer loan and deposit account relationships. Total advertising and promotional expenses have declined in 2024 due to the expiration of certain long-term sponsorship commitments. Advertising and promotional expenses are expected to approximate current levels in future periods.

    Acquisition related expenses includes expenses related to our proposed merger with ChoiceOne Financial Services, Inc., which was announced during the third quarter of 2024. These expenses include services rendered for investment banking, legal and accounting. We expect to incur additional acquisition related expenses in future periods.

    FDIC insurance premiums typically fluctuate each period based on the size of the balance sheet, capital position and overall risk profile. FDIC insurance premiums are expected to approximate current levels in future periods.

    ATM and debit card expenses fluctuate based on customer and non-customer utilization of ATMs and customer debit card volumes. We expect these fees to approximate current levels in future periods.

    Telephone and communication includes expenses relating to our communication systems. These expenses are expected to approximate current levels in future periods.

    Amortization of core deposit intangibles relates to the core deposits acquired from Community Bancorp, Inc. on December 31, 2016 and FSB on December 1, 2021. These core deposit intangibles are being amortized using an accelerated sum-of-years-digits method over their estimated useful lives of seven years. The core deposit intangibles associated with the acquisition of Community Bancorp, Inc. were fully amortized as of December 31, 2023. The core deposit intangibles associated with the acquisition of FSB will be amortized through 2028.

    Other general and administrative includes miscellaneous other expense items. Other general and administrative expenses are expected to approximate current levels in future periods.

    Balance Sheet Breakdown and Analysis

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    ASSETS                    
    Cash and due from banks   $ 199,717   $ 128,590   $ 132,349   $ 90,661   $ 83,365
    Total investment securities     99,724     100,167     103,210     107,615     109,543
    Residential mortgage loans held-for-sale, at fair value     1,861     2,440     1,067     747     1,037
    Gross loans     1,442,389     1,459,929     1,461,465     1,473,471     1,483,720
    Less allowance for credit losses     14,700     15,300     15,300     15,400     15,400
    Net loans     1,427,689     1,444,629     1,446,165     1,458,071     1,468,320
    All other assets     78,379     80,803     81,838     81,858     82,674
    Total assets   $ 1,807,370   $ 1,756,629   $ 1,764,629   $ 1,738,952   $ 1,744,939
                         
    LIABILITIES AND SHAREHOLDERS’ EQUITY                    
    Total deposits   $ 1,470,586   $ 1,427,059   $ 1,438,408   $ 1,394,182   $ 1,401,797
    Total borrowed funds     179,970     178,397     178,500     198,500     201,050
    Accrued interest payable and other liabilities     10,416     7,872     6,647     7,568     9,190
    Total liabilities     1,660,972     1,613,328     1,623,555     1,600,250     1,612,037
    Total shareholders’ equity     146,398     143,301     141,074     138,702     132,902
    Total liabilities and shareholders’ equity   $ 1,807,370   $ 1,756,629   $ 1,764,629   $ 1,738,952   $ 1,744,939
                         
        9/30/2024 vs 6/30/2024   9/30/2024 vs 9/30/2023
        Variance   Variance
        Amount   %   Amount   %
    ASSETS                
    Cash and due from banks   $ 71,127     55.31 %   $ 116,352     139.57 %
    Total investment securities     (443 )   (0.44)%     (9,819 )   (8.96)%
    Residential mortgage loans held-for-sale, at fair value     (579 )   (23.73)%     824     79.46 %
    Gross loans     (17,540 )   (1.20)%     (41,331 )   (2.79)%
    Less allowance for credit losses     (600 )   (3.92)%     (700 )   (4.55)%
    Net loans     (16,940 )   (1.17)%     (40,631 )   (2.77)%
    All other assets     (2,424 )   (3.00)%     (4,295 )   (5.20)%
    Total assets   $ 50,741     2.89 %   $ 62,431     3.58 %
                     
    LIABILITIES AND SHAREHOLDERS’ EQUITY                
    Total deposits   $ 43,527     3.05 %   $ 68,789     4.91 %
    Total borrowed funds     1,573     0.88 %     (21,080 )   (10.48)%
    Accrued interest payable and other liabilities     2,544     32.32 %     1,226     13.34 %
    Total liabilities     47,644     2.95 %     48,935     3.04 %
    Total shareholders’ equity     3,097     2.16 %     13,496     10.15 %
    Total liabilities and shareholders’ equity   $ 50,741     2.89 %   $ 62,431     3.58 %
                     

    Cash and due from banks

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Cash and due from banks                    
    Noninterest bearing   $ 37,871   $ 35,437     $ 26,128   $ 29,997   $ 35,121  
    Interest bearing     161,846     93,153       106,221     60,664     48,244  
    Total   $ 199,717   $ 128,590     $ 132,349   $ 90,661   $ 83,365  
                         
        9/30/2024 vs 6/30/2024       9/30/2024 vs 9/30/2023
        Variance       Variance
        Amount   %       Amount   %
    Cash and due from banks                    
    Noninterest bearing   $ 2,434     6.87 %       $ 2,750     7.83 %
    Interest bearing     68,693     73.74 %         113,602     235.47 %
    Total   $ 71,127     55.31 %       $ 116,352     139.57 %
                         

    Cash and due from banks fluctuates from period to period based on loan demand and variances in deposit account balances.

    Primary and secondary liquidity sources

    The following table outlines our primary and secondary sources of liquidity as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Cash and cash equivalents   $ 199,717   $ 128,590   $ 132,349   $ 90,661   $ 83,365
    Fair value of unpledged investment securities     77,019     74,775     73,680     80,247     82,103
    FHLB borrowing availability     190,000     190,000     190,000     170,000     170,000
    Unsecured lines of credit     23,000     23,000     23,000     20,000     20,000
    Funds available through the Fed Discount Window     109     106     107     111     110
    Parent company line of credit     5,100     7,000     3,500     3,500     950
    Total liquidity sources   $ 494,945   $ 423,471   $ 422,636   $ 364,519   $ 356,528
                         

    The increase in cash and cash equivalents as of September 30, 2024 was due to an increase in total deposits (see “Total deposits” below).

    In addition to the above liquidity sources, we also have the option of utilizing wholesale funding sources, such as brokered NOW accounts, brokered time deposits, and internet time deposits. Although wholesale funding sources are typically more expensive than core deposits and other liquidity sources, they are an integral part of our overall asset and liability management strategy.

    Investment securities

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Available-for-sale                    
    U.S. Government and federal agency   $ 19,432     $ 20,430     $ 20,427     $ 22,425     $ 23,420  
    State and municipal     18,997       19,108       20,403       20,460       20,992  
    Mortgage backed residential     44,086       45,808       47,505       49,076       50,786  
    Certificates of deposit     2,234       2,481       2,729       2,728       3,956  
    Collateralized mortgage obligations – agencies     21,640       22,213       22,778       23,320       24,062  
    Unrealized gain/(loss) on available-for-sale securities     (8,798 )     (12,179 )     (13,027 )     (12,760 )     (15,958 )
    Total available-for-sale     97,591       97,861       100,815       105,249       107,258  
    Held-to-maturity state and municipal     535       791       877       878       879  
    Equity securities     1,598       1,515       1,518       1,488       1,406  
    Total investment securities   $ 99,724     $ 100,167     $ 103,210     $ 107,615     $ 109,543  
                         
        9/30/2024 vs 6/30/2024       9/30/2024 vs 9/30/2023
        Variance       Variance
        Amount   %       Amount   %
    Available-for-sale                    
    U.S. Government and federal agency     (998 )   (4.88)%       $ (3,988 )   (17.03)%
    State and municipal     (111 )   (0.58)%         (1,995 )   (9.50)%
    Mortgage backed residential     (1,722 )   (3.76)%         (6,700 )   (13.19)%
    Certificates of deposit     (247 )   (9.96)%         (1,722 )   (43.53)%
    Collateralized mortgage obligations – agencies     (573 )   (2.58)%         (2,422 )   (10.07)%
    Unrealized gain/(loss) on available-for-sale securities     3,381     (27.76)%         7,160     (44.87)%
    Total available-for-sale     (270 )   (0.28)%         (9,667 )   (9.01)%
    Held-to-maturity state and municipal     (256 )   (32.36)%         (344 )   (39.14)%
    Equity securities     83       5.48 %         192       13.66 %
    Total investment securities   $ (443 )   (0.44)%       $ (9,819 )   (8.96)%
                         

    The amortized cost and fair value of AFS investment securities as of September 30, 2024 were as follows:

        Maturing        
        Due in One Year or Less   After One Year But Within Five Years   After Five Years But Within Ten Years   After Ten Years   Securities with Variable Monthly Payments or Noncontractual Maturities   Total
    U.S. Government and federal agency   $ 6,481   $ 12,951   $   $   $   $ 19,432
    State and municipal     1,624     15,190     1,113     1,070         18,997
    Mortgage backed residential                     44,086     44,086
    Certificates of deposit     2,234                     2,234
    Collateralized mortgage obligations – agencies                     21,640     21,640
    Total amortized cost   $ 10,339   $ 28,141   $ 1,113   $ 1,070   $ 65,726   $ 106,389
    Fair value   $ 10,111   $ 26,620   $ 1,017   $ 1,001   $ 58,842   $ 97,591
                             

    The amortized cost and fair value of HTM investment securities as of September 30, 2024 were as follows:

        Maturing        
        Due in One Year or Less   After One Year But Within Five Years   After Five Years But Within Ten Years   After Ten Years   Securities with Variable Monthly Payments or Noncontractual Maturities   Total
    State and municipal   $ 85   $ 295   $ 155   $   $   $ 535
    Fair value   $ 84   $ 290   $ 152   $   $   $ 526
                             

    Total investment securities have declined in recent periods primarily due to maturities and prepayments. As a result of overall market conditions, we have not replenished maturing securities with new purchases.

    Residential mortgage loans held-for-sale, at fair value

    Loans HFS represent the fair value of loans that have been committed to be sold to the secondary market, but have not yet been delivered. The level of loans HFS fluctuates based on loan demand as well as the timing of loan deliveries to the secondary market.

    Loans and allowance for credit losses

    As outlined in the following tables, our loan portfolio has strategically declined throughout the past 12 months. As a result of current market conditions, we expect minimal loan growth throughout the remainder of 2024. Specifically, our commercial pipeline has declined significantly, and the requests that are being presented are lower dollar balances and often carry an SBA guarantee.

    The following tables outline the composition and changes in the loan portfolio as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Commercial and industrial   $ 109,188     $ 120,331     $ 114,772     $ 118,089     $ 125,330  
    Commercial real estate     855,270       864,200       867,270       870,693       874,870  
    Total commercial loans     964,458       984,531       982,042       988,782       1,000,200  
    Residential mortgage     419,140       418,403       426,762       431,836       431,740  
    Home equity     55,475       53,133       48,568       48,380       47,069  
    Total residential real estate loans     474,615       471,536       475,330       480,216       478,809  
    Consumer     3,316       3,862       4,093       4,473       4,711  
    Gross loans     1,442,389       1,459,929       1,461,465       1,473,471       1,483,720  
    Allowance for credit losses     (14,700 )     (15,300 )     (15,300 )     (15,400 )     (15,400 )
    Loans, net   $ 1,427,689     $ 1,444,629     $ 1,446,165     $ 1,458,071     $ 1,468,320  
                         
    Memo items:                    
    Residential mortgage loans serviced for others   $ 609,113     $ 613,854     $ 619,160     $ 624,765     $ 631,697  
                         
        9/30/2024 vs 6/30/2024       9/30/2024 vs 9/30/2023
        Variance       Variance
        Amount   %       Amount   %
    Commercial and industrial   $ (11,143 )   (9.26)%       $ (16,142 )   (12.88)%
    Commercial real estate     (8,930 )   (1.03)%         (19,600 )   (2.24)%
    Total commercial loans     (20,073 )   (2.04)%         (35,742 )   (3.57)%
    Residential mortgage     737       0.18 %         (12,600 )   (2.92)%
    Home equity     2,342       4.41 %         8,406       17.86 %
    Total residential real estate loans     3,079       0.65 %         (4,194 )   (0.88)%
    Consumer     (546 )   (14.14)%         (1,395 )   (29.61)%
    Gross loans     (17,540 )   (1.20)%         (41,331 )   (2.79)%
    Allowance for credit losses     600     (3.92)%         700     (4.55)%
    Loans, net   $ (16,940 )   (1.17)%       $ (40,631 )   (2.77)%
                         
    Memo items:                    
    Residential mortgage loans serviced for others   $ (4,741 )   (0.77)%       $ (22,584 )   (3.58)%
                         

    The following table presents historical loan balances by portfolio segment as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Loans collectively evaluated                    
    Commercial and industrial   $ 102,523   $ 113,254   $ 112,542   $ 115,665   $ 124,860
    Commercial real estate     854,038     864,026     867,270     870,524     874,701
    Residential mortgage     416,864     416,130     423,881     429,109     428,927
    Home equity     55,416     53,056     48,388     48,136     46,898
    Consumer     3,325     3,862     4,093     4,473     4,711
    Subtotal     1,432,166     1,450,328     1,456,174     1,467,907     1,480,097
    Loans individually evaluated                    
    Commercial and industrial     6,665     7,077     2,230     2,424     470
    Commercial real estate     1,232     174         169     169
    Residential mortgage     2,276     2,273     2,881     2,727     2,813
    Home equity     48     77     180     244     171
    Consumer     2                
    Subtotal     10,223     9,601     5,291     5,564     3,623
    Gross Loans   $ 1,442,389   $ 1,459,929   $ 1,461,465   $ 1,473,471   $ 1,483,720
                         

    The following table presents historical allowance for credit losses allocations by portfolio segment as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Allowance for credit losses for collectively evaluated loans                    
    Commercial and industrial   $ 1,436   $ 1,434   $ 1,300   $ 1,407   $ 1,362
    Commercial real estate     8,347     8,903     8,359     8,467     8,703
    Residential mortgage     4,131     4,133     4,202     4,409     4,439
    Home equity     348     327     305     321     315
    Consumer     51     80     38     44     36
    Unallocated             670     355     294
    Subtotal     14,313     14,877     14,874     15,003     15,149
    Allowance for credit losses for individually evaluated loans                    
    Commercial and industrial     385     423     423     363     248
    Commercial real estate                    
    Residential mortgage             3     34     3
    Home equity                    
    Consumer     2                
    Unallocated                    
    Subtotal     387     423     426     397     251
    Allowance for credit losses   $ 14,700   $ 15,300   $ 15,300   $ 15,400   $ 15,400
                         
    Commercial and industrial   $ 1,784   $ 1,857   $ 1,723   $ 1,770   $ 1,610
    Commercial real estate     8,347     8,903     8,359     8,467     8,703
    Residential mortgage     4,131     4,133     4,205     4,443     4,442
    Home equity     348     327     305     321     315
    Consumer     53     80     38     44     36
    Unallocated             670     355     294
    Allowance for credit losses   $ 14,700   $ 15,300   $ 15,300   $ 15,400   $ 15,400
                         

    Loan concentration analysis

    As a result of current economic conditions, there continues to be a heightened focus in the financial industry for non-owner occupied commercial real estate loans, most specifically retail and office space industries. While we continue to monitor various industries that have been impacted by the pandemic, we also continue to monitor the effects of inflation, supply chain disruption, elevated interest rates, and office space usage associated with an increased remote workforce. The overall credit quality indicators of non-owner occupied commercial real estate loan portfolio have remained strong. Performance is based on debt service coverage ratio, loan to value ratio and payment trends. As of September 30, 2024, there were no delinquencies in the non-owner occupied commercial real estate loan portfolio. We expect the non-owner occupied commercial real estate loan portfolio to experience insignificant growth, if any, in future periods.

    Within the net lease and retail strip center non-owner occupied commercial real estate pools, we have exposure to Rite Aid. During the fourth quarter of 2023, Rite Aid, which operates over 2,000 retail pharmacies across 17 states, filed for Chapter 11 bankruptcy protection. During the third quarter of 2024, Rite Aid announced that it successfully emerged from bankruptcy protection and will now operate as a private company. However, all Rite Aid stores in Michigan were closed as part of the company’s restructuring. As a result, one commercial real estate loan was partially charged off and its remaining balance was moved to nonaccrual status during the third quarter of 2024. We continue to actively monitor five remaining loans previously associated with Rite Aid.

    With the ongoing pressures on the office sector due to remote work capabilities and less required office space, we continue to monitor the office pool more closely for potential deterioration. It is not expected that there will be much, if any, impact on portfolio performance in this pool in the near future due to existing lease terms, tenant mix, office size, and strong underwriting at origination. Due to current economic uncertainty and the pressures noted above, it is unlikely that we will seek new loan originations in the non-owner occupied office pool in 2024.

    Below is a description of each industry pool within the non-owner occupied commercial real estate loan portfolio:

    Net lease: Loans in this pool represent national credit tenants (or franchisees of the same) or large regional tenants with excellent credit. These loans are typically single tenant net lease credits with strong debt service coverage ratios and lease terms that extend beyond the maturity of the loan.

    Retail strip centers: Loans in this pool represent loans collateralized by retail strip centers. The tenant base within this pool consists primarily of retail space whose average lease periods run between one and ten years. Larger strip centers are usually anchored by a national or regional tenant. Guarantors in this category typically have large liquid reserves.

    Office: Loans in this pool represent loans collateralized by non-owner occupied office buildings. The tenant base includes legal and other professional services whose average lease periods run from three to fifteen years.

    Special use: Loans in this pool represent loans collateralized by special use buildings, which include hotels, motels, assisted living and nursing homes that are not classified as construction or SBA loans.

    Industrial: Loans in this pool represent investment properties used for manufacturing and production.

    Medical office: Loans in this pool represent loans collateralized by non-owner occupied medical office buildings. The tenant base includes medical services whose average lease periods run from three to fifteen years.

    Self storage: Loans in this pool represent self storage buildings. Loan terms are generally five years or less and the lease terms of the units are typically on a month-to-month basis.

    Mixed use: Loans in this pool represent loans collateralized by mixed use real estate. The tenant base within this pool consists primarily of office-retail, office-residential or retail-residential space. The properties are most often purchased by individuals for investment purposes.

    Retail: Loans in this pool represent loans collateralized by single tenant retail buildings whose average lease periods run over five years.

    The following tables present the composition of current and historical non-owner occupied commercial real estate loans, based on loan collateral, by industry pool:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Net lease   $ 137,406     $ 141,064     $ 147,103   $ 149,056     $ 160,077  
    Retail strip centers     106,948       106,631       107,834     98,588       96,567  
    Office     61,897       62,237       61,657     61,822       62,959  
    Special use     71,307       71,006       58,278     58,710       57,612  
    Industrial     23,338       23,107       22,575     28,380       28,906  
    Medical office     24,551       24,818       25,380     25,842       28,591  
    Self storage     32,797       32,502       25,660     23,455       21,993  
    Mixed use     16,829       16,980       17,174     17,335       19,833  
    Retail     15,183       17,191       12,533     12,981       14,115  
                         
    Total non-owner occupied commercial real estate loans   $ 490,256     $ 495,536     $ 478,194   $ 476,169     $ 490,653  
                         
        9/30/2024 vs 6/30/2024       9/30/2024 vs 9/30/2023
        Variance       Variance
        Amount   %       Amount   %
    Net lease   $ (3,658 )   (2.59)%       $ (22,671 )   (14.16)%
    Retail strip centers     317       0.30 %         10,381       10.75 %
    Office     (340 )   (0.55)%         (1,062 )   (1.69)%
    Special use     301       0.42 %         13,695       23.77 %
    Industrial     231       1.00 %         (5,568 )   (19.26)%
    Medical office     (267 )   (1.08)%         (4,040 )   (14.13)%
    Self storage     295       0.91 %         10,804       49.12 %
    Mixed use     (151 )   (0.89)%         (3,004 )   (15.15)%
    Retail     (2,008 )   (11.68)%         1,068       7.57 %
                         
    Total non-owner occupied commercial real estate loans   $ (5,280 )   (1.07)%       $ (397 )   (0.08)%
                         

    The following table presents the average loan size of current and historical non-owner occupied commercial real estate loans, based on loan collateral, by industry pool:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Net lease   $ 1,383   $ 1,291   $ 1,311   $ 1,316   $ 1,300
    Retail strip centers     2,379     2,197     2,231     2,135     2,115
    Office     1,370     1,363     1,296     1,297     1,294
    Special use     2,612     2,546     2,064     2,079     2,134
    Industrial     933     925     941     1,092     1,072
    Medical office     1,116     1,128     1,103     1,078     1,145
    Self storage     1,923     1,926     1,509     1,380     1,692
    Mixed use     1,324     1,334     1,321     1,333     1,240
    Retail     407     513     447     461     429
                         
    Total non-owner occupied commercial real estate loans   $ 1,489   $ 1,448   $ 1,392   $ 1,379   $ 1,362
                         

    The following table presents current and historical non-owner occupied commercial real estate loans, based on loan collateral, by industry pool as a percentage of gross loans:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Net lease   9.53 %   9.66 %   10.07 %   10.12 %   10.79 %
    Retail strip centers   7.41 %   7.30 %   7.38 %   6.69 %   6.51 %
    Office   4.29 %   4.26 %   4.22 %   4.20 %   4.24 %
    Special use   4.94 %   4.86 %   3.99 %   3.98 %   3.88 %
    Industrial   1.62 %   1.58 %   1.54 %   1.93 %   1.95 %
    Medical office   1.70 %   1.70 %   1.74 %   1.75 %   1.93 %
    Self storage   2.27 %   2.23 %   1.76 %   1.59 %   1.48 %
    Mixed use   1.17 %   1.16 %   1.18 %   1.18 %   1.34 %
    Retail   1.05 %   1.18 %   0.86 %   0.88 %   0.95 %
                         
    Total non-owner occupied commercial real estate loans to gross loans   33.98 %   33.93 %   32.74 %   32.32 %   33.07 %
                         

    Asset quality

    The following table summarizes our current, past due, and nonaccrual loans as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Accruing interest                    
    Current   $ 1,428,014   $ 1,445,780   $ 1,451,432   $ 1,463,668   $ 1,477,386
    Past due 30-89 days     4,152     4,534     4,344     4,239     2,711
    Past due 90 days or more         14     398        
    Total accruing interest     1,432,166     1,450,328     1,456,174     1,467,907     1,480,097
    Nonaccrual     10,223     9,601     5,291     5,564     3,623
    Total loans   $ 1,442,389   $ 1,459,929   $ 1,461,465   $ 1,473,471   $ 1,483,720
    Total loans past due and in nonaccrual status   $ 14,375   $ 14,149   $ 10,033   $ 9,803   $ 6,334
                         

    The following table summarizes the our nonperforming assets as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Nonaccrual loans   $ 10,223   $ 9,601   $ 5,291   $ 5,564   $ 3,623
    Accruing loans past due 90 days or more         14     398        
    Total nonperforming loans     10,223     9,615     5,689     5,564     3,623
    Other real estate owned     293     293     345     597     345
    Total nonperforming assets   $ 10,516   $ 9,908   $ 6,034   $ 6,161   $ 3,968
                         

    The following table summarizes our charge-offs, recoveries and allowance for credit losses as of, and for the three-month periods ended:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Total charge-offs   $ 1,814   $ 814   $ 86     $ 110     $ 16  
    Total recoveries     11     18     29       300       455  
    Net charge-offs (recoveries)   $ 1,803   $ 796   $ 57     $ (190 )   $ (439 )
    Allowance for credit losses   $ 1,203   $ 796   $ (43 )   $ (190 )   $ (309 )
                         

    During the third quarter of 2024, we partially charged off one commercial real estate loan for $1,443 related to the Rite Aid bankruptcy filing. We believe that the credit characteristics are unique and are not an indication of softening in the remainder of our commercial loan portfolio.

    The following table summarizes the our primary asset quality measures as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Nonperforming loans to gross loans   0.71 %   0.66 %   0.39 %   0.38 %   0.24 %
    Nonperforming assets to total assets   0.58 %   0.56 %   0.34 %   0.35 %   0.23 %
    Allowance for credit losses to gross loans   1.02 %   1.05 %   1.05 %   1.05 %   1.04 %
    Net charge-offs (recoveries) to QTD average gross loans   0.12 %   0.05 %   %   (0.01)%   (0.03)%
    Credit loss expense (reversal) to QTD average gross loans   0.08 %   0.05 %   %   (0.01)%   (0.02)%
                         

    The following table summarizes the average loan size as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Commercial and industrial   $ 310   $ 343   $ 326   $ 334   $ 353
    Commercial real estate     901     906     900     905     896
    Total commercial loans     740     754     746     752     751
    Residential mortgage     235     234     234     236     234
    Home equity     58     56     53     53     52
    Total residential real estate loans     173     173     174     175     174
    Consumer     12     13     13     13     12
    Gross loans   $ 335   $ 337   $ 336   $ 337   $ 335
                         

    All other assets

    The following tables outline the composition and changes in other assets as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Premises and equipment, net   $ 13,203     $ 13,661     $ 14,111   $ 14,561     $ 14,928  
    Federal Home Loan Bank stock     9,179       9,179       9,179     9,179       9,179  
    Corporate owned life insurance     28,129       27,877       27,670     27,466       27,274  
    Mortgage servicing rights     8,461       8,636       8,680     8,776       8,884  
    Accrued interest receivable     4,354       4,747       4,869     4,472       4,485  
    Goodwill     8,853       8,853       8,853     8,853       8,853  
    Other assets                    
    Core deposit intangibles     400       444       488     533       609  
    Right-of-use assets     1,062       1,142       1,237     1,333       1,426  
    Other real estate owned     293       293       345     597       345  
    Other     4,445       5,971       6,406     6,088       6,691  
    Total     6,200       7,850       8,476     8,551       9,071  
    All other assets   $ 78,379     $ 80,803     $ 81,838   $ 81,858     $ 82,674  
                         
        9/30/2024 vs 6/30/2024       9/30/2024 vs 9/30/2023
        Variance       Variance
        Amount   %       Amount   %
    Premises and equipment, net   $ (458 )   (3.35)%       $ (1,725 )   (11.56)%
    Federal Home Loan Bank stock           %               %
    Corporate owned life insurance     252       0.90 %         855       3.13 %
    Mortgage servicing rights     (175 )   (2.03)%         (423 )   (4.76)%
    Accrued interest receivable     (393 )   (8.28)%         (131 )   (2.92)%
    Goodwill           %               %
    Other assets                    
    Core deposit intangibles     (44 )   (9.91)%         (209 )   (34.32)%
    Right-of-use assets     (80 )   (7.01)%         (364 )   (25.53)%
    Other real estate owned           %         (52 )   (15.07)%
    Other     (1,526 )   (25.56)%         (2,246 )   (33.57)%
    Total     (1,650 )   (21.02)%         (2,871 )   (31.65)%
    All other assets   $ (2,424 )   (3.00)%       $ (4,295 )   (5.20)%
                         

    The annual decrease in premises and equipment was due to depreciation on our existing premises and equipment.

    Total deposits

    The following tables outline the composition and changes in the deposit portfolio as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Noninterest bearing demand   $ 398,338     $ 404,521     $ 401,518   $ 423,019     $ 425,820  
    Interest bearing                    
    Savings     264,337       262,538       274,922     273,302       293,310  
    Money market demand     250,715       230,304       229,584     223,827       225,138  
    NOW                    
    Retail NOW     202,030       205,383       203,614     178,892       198,271  
    Brokered NOW                            
                         
    Total NOW Accounts     202,030       205,383       203,614     178,892       198,271  
    Time deposits                    
    Other time deposits     294,862       264,009       268,466     234,838       198,509  
    Brokered time deposits     60,304       60,304       60,304     60,304       60,251  
    Internet time deposits                           498  
                         
    Total time deposits     355,166       324,313       328,770     295,142       259,258  
                         
    Total deposits   $ 1,470,586     $ 1,427,059     $ 1,438,408   $ 1,394,182     $ 1,401,797  
                         
        9/30/2024 vs 6/30/2024       9/30/2024 vs 9/30/2023
        Variance       Variance
        Amount   %       Amount   %
    Noninterest bearing demand   $ (6,183 )   (1.53)%       $ (27,482 )   (6.45)%
    Interest bearing                    
    Savings     1,799       0.69 %         (28,973 )   (9.88)%
    Money market demand     20,411       8.86 %         25,577       11.36 %
    NOW                    
    Retail NOW     (3,353 )   (1.63)%         3,759       1.90 %
    Brokered NOW           %               %
                         
    Total NOW Accounts     (3,353 )   (1.63)%         3,759       1.90 %
    Time deposits                    
    Other time deposits     30,853       11.69 %         96,353       48.54 %
    Brokered time deposits           %         53       0.09 %
    Internet time deposits           %         (498 )   (100.00)%
                         
    Total time deposits     30,853       9.51 %         95,908       36.99 %
                         
    Total deposits   $ 43,527       3.05 %       $ 68,789       4.91 %
                         

    Between March 2022 and July 2023, the FOMC raised its target federal funds rate 11 times, from a target range of 0.00-0.25% to 5.25-5.50%, or 525 basis points, in order to combat rising inflation. This rapid increase in interest rates led to significant competition amongst financial institutions for deposits. In September 2024, the FOMC lowered the target federal funds rate 50 basis points to a target range of 4.75-5.00%. Due to the overall uncertainty regarding potential rate changes in the future, customers have not sought out long-term funds, leading to a shift in demand to higher-yielding non-maturity deposit accounts as well as short-term time deposits.

    Total borrowed funds

    The following tables outline the composition and changes in borrowed funds as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Federal Home Loan Bank borrowings   $ 160,000   $ 160,000     $ 160,000   $ 180,000     $ 180,000  
    Subordinated debentures     14,000     14,000       14,000     14,000       14,000  
    Other borrowings     5,970     4,397       4,500     4,500       7,050  
    Total borrowed funds   $ 179,970   $ 178,397     $ 178,500   $ 198,500     $ 201,050  
                         
        9/30/2024 vs 6/30/2024       9/30/2024 vs 9/30/2023
        Variance       Variance
        Amount   %       Amount   %
    Federal Home Loan Bank borrowings   $     %       $ (20,000 )   (11.11)%
    Subordinated debentures         %               %
    Other borrowings     1,573     35.77 %         (1,080 )   (15.32)%
    Total borrowed funds   $ 1,573     0.88 %       $ (21,080 )   (10.48)%
                         

    We utilize a mix of borrowed funds and organic deposit growth to fund loan demand. As loan growth has slowed in recent periods, our reliance on FHLB advances has declined.

    Wholesale funding sources

    Although we have been successful at growing market deposits, we utilize wholesale funding sources when necessary to fill gaps when asset growth outpaces deposit growth. Our wholesale funding sources include Federal Home Loan Bank borrowings, correspondent Fed Funds lines and brokered deposits. Although wholesale funding sources are typically more expensive than core deposits, they are an integral part of our funding.

    The following tables outline the composition and changes in wholesale funding sources as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Federal Home Loan Bank borrowings   $ 160,000   $ 160,000     $ 160,000   $ 180,000     $ 180,000  
    Subordinated debentures     14,000     14,000       14,000     14,000       14,000  
    Other borrowings     5,970     4,397       4,500     4,500       7,050  
    Brokered NOW accounts                          
    Brokered time deposits     60,304     60,304       60,304     60,304       60,251  
    Internet time deposits                         498  
    Total wholesale funds   $ 240,274   $ 238,701     $ 238,804   $ 258,804     $ 261,799  
                         
        9/30/2024 vs 6/30/2024       9/30/2024 vs 9/30/2023
        Variance       Variance
        Amount   %       Amount   %
    Federal Home Loan Bank borrowings   $     %         (20,000 )   (11.11)%
    Subordinated debentures         %               %
    Other borrowings     1,573     35.77 %         (1,080 )   (15.32)%
    Brokered NOW accounts       N/A             N/A
    Brokered time deposits         %         53       0.09 %
    Internet time deposits       N/A         (498 )   (100.00)%
    Total wholesale funds   $ 1,573     0.66 %       $ (21,525 )   (8.22)%
                         

    Accrued interest payable and other liabilities

    Accrued interest payable and other liabilities includes accrued interest payable, federal income taxes payable, deferred federal income taxes payable, and all other liabilities (none of which are individually significant).

    Total shareholders’ equity

    We are considered a “well-capitalized” institution, as our capital ratios exceed the minimum designated standards necessary in accordance with Basel III guidelines. As of September 30, 2024, the Bank’s total capital ratio was 12.78%, tier 1 capital ratio was 11.72%, and tier 1 leverage ratio was 9.02%. The minimum requirements to be considered well-capitalized are a total capital ratio of 10.00%, tier 1 capital ratio of 8.00%, and tier 1 leverage ratio of 5.00%. While we continue to be considered well-capitalized, we are focused on enhancing our capital ratios through earnings of the Bank as well as asset growth moderation strategies in 2024.

    The following tables outline the composition and changes in shareholders’ equity as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Common stock   $ 74,826     $ 74,690     $ 74,555     $ 74,230     $ 74,118  
    Retained earnings     78,467       78,094       76,607       74,309       70,972  
    Accumulated other comprehensive (loss) income     (6,895 )     (9,483 )     (10,088 )     (9,837 )     (12,188 )
    Total shareholders’ equity   $ 146,398     $ 143,301     $ 141,074     $ 138,702     $ 132,902  
                         
        9/30/2024 vs 6/30/2024       9/30/2024 vs 9/30/2023
        Variance       Variance
        Amount   %       Amount   %
    Common stock   $ 136       0.18 %       $ 708       0.96 %
    Retained earnings     373       0.48 %         7,495       10.56 %
    Accumulated other comprehensive (loss) income     2,588     (27.29)%         5,293     (43.43)%
    Total shareholders’ equity   $ 3,097       2.16 %       $ 13,496       10.15 %
                         

    The Board of Directors has authorized the repurchase of up to $10,000 of common stock. As of September 30, 2024, we had $1,393 of common stock available to repurchase through the program. We did not execute any repurchases of our common stock during 2024.

    Stock Performance

    The following table compares the cumulative total shareholder return on our common stock for the year-to-date, 1 year, 3 year, and 5 year periods ended September 30, 2024. The National OTC Peer Group was developed by selecting all OTC traded bank holding companies with total assets between $1 billion and $3 billion as of 03/31/2024 that had a quoted stock price on Bloomberg. The Midwest / Great Lakes OTC Peer Group represents those institutions included in the National OTC Peer Group that are headquartered in Illinois, Indiana, Michigan, Ohio, Pennsylvania, and Wisconsin.

      # in Peer Group   YTD   1 Year   3 Year   5 Year
    Fentura Financial, Inc. (OTCQX:FETM)     45.40 %   67.28 %   59.12 %   100.80 %
                       
    National OTC Peers 43   (1.01)%   (3.49)%   2.11 %   8.44 %
    Fentura Ranking out of 44     1     1     4     4  
                       
    Midwest / Great Lakes OTC Peers 17   (1.97)%   (5.16)%   (1.63)%   1.35 %
    Fentura Ranking out of 18     1     1     1     1  
                       

    Abbreviations and Acronyms

    ABA: American Bankers Association FTE: Fully taxable equivalent
    ACH: Automated Clearing House GAAP: Generally Accepted Accounting Principles
    ACL: Allowance for credit losses HFS: Held-for-sale
    AFS: Available-for-sale HTM: Held-to-maturity
    AIR: Accrued interest receivable HFS: Held-for-sale
    AOCI: Accumulated other comprehensive income HTM: Held-to-maturity
    ARRC: Alternative Reference Rates Committee IRA: Individual retirement account
    ASC: Accounting Standards Codification ITM: Interactive Teller Machine
    ASU: Accounting Standards Update LIBOR: London Interbank Offered Rate
    ATM: Automated teller machine MSR: Mortgage servicing rights
    CDI: Core deposit intangible N/M: Not meaningful
    CET1: Common equity tier 1 NASDAQ: National Association of Securities Dealers Automated Quotations
    COLI: Corporate owned life insurance NOW: Negotiable order of withdrawal
    DRIP: Dividend Reinvestment Plan NSF: Non-sufficient funds
    EPS: Earnings Per Common Share OCI: Other comprehensive income
    ESOP: Employee Stock Ownership Plan OIS: Overnight Index Swap
    FASB: Financial Accounting Standards Board OREO: Other real estate owned
    FDIC: Federal Deposit Insurance Corporation OTTI: Other-than-temporary impairment
    FHLB: Federal Home Loan Bank QTD: Quarter-to-date
    FHLLC: Fentura Holdings LLC SAB: Staff Accounting Bulletin
    FHLMC: Federal Home Loan Mortgage Corporation SBA: U.S. Small Business Administration
    FNMA: Federal National Mortgage Association SEC: Securities and Exchange Commission
    FOMC: Federal Open Market Committee SERP: Supplemental Executive Retirement Plan
    FRB: Federal Reserve Bank SOFR: Secured Overnight Funding Rate
    FSB: Farmers State Bank of Munith TLM: Troubled loan modifications
       

    About Fentura Financial, Inc. and The State Bank

    Fentura Financial, Inc. is the holding company for The State Bank. It was formed in 1987 and is traded on the OTCQX exchange under the symbol FETM, and has been recognized as one of the Top 50 performing stocks on that exchange.

    The State Bank is a 5-Star Bauer Financial rated commercial, retail and trust bank headquartered in Fenton, Michigan. It currently operates 20 full-service offices and one loan production center serving Bay, Genesee, Ingham, Jackson, Livingston, Oakland, Saginaw, and Shiawassee counties. The State Bank believes in the potential of banking to help create better lives, better businesses, and better communities, and works to achieve this through its full array of consumer, mortgage, SBA, commercial and wealth management banking and advisory services, together with philanthropic and volunteer support to organizations and groups within the communities it serves. More information can be found at www.thestatebank.com or www.fentura.com.

    Cautionary Statement: This press release contains certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, but are not limited to, statements concerning future growth in earning assets and net income. Such statements are subject to certain risks and uncertainties which could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, economic, competitive, governmental and technological factors affecting the Company’s operations, markets, products, services, interest rates and fees for services. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

    Contacts:  Ronald L. Justice  Aaron D. Wirsing
      President & CEO Chief Financial Officer
      Fentura Financial, Inc.   Fentura Financial, Inc.
      810.714.3902 810.714.3925
      ron.justice@thestatebank.com aaron.wirsing@thestatebank.com

    The MIL Network

  • MIL-OSI: Bybit x Block Scholes Crypto Derivatives Report: Optimism in Moderation in Pre-Election Markets

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Oct. 25, 2024 (GLOBE NEWSWIRE) — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, in collaboration with Blocks Scholes, releases a new report on the state of crypto derivatives. The report reveals cautiously optimistic market sentiment in the lead-up to the U.S. presidential election, alongside fluctuations in at-the-money (ATM) implied volatility. However, analysts believe that investors who may be anticipating BTC price to reach the next major milestone mark may want to temper expectations until after the election dust settles.

    The report also illustrated a tangled relationship between BTC price and election odds. As the divergence between Trump’s and Harris’s odds widened, BTC spot prices were on the rise along with Trump’s improved winning chance but has recently pulled back. 

    Key Insights:

    Strong funding rates across tokens: From DOGE to BTC, all tokens are showing consistent and positive funding rates across the board for perpetual contracts. Traders are accumulating long positions, aiming for leveraged exposure in anticipation of the upcoming election. As investors increase their long-term exposure, the markets crescendo towards bullish sentiments. 

    BTC calls drove up implied volatility: BTC call options were leading in open positions and contributed to the upward trend of 14-day tenor options in the previous week. However, other tenors have generally seen downward pressure. 

    Plunging Implied Volatility: Large movements in 7-day implied volatility shaped very steep term structures for ETH options. In contrast with the calm in ETH spot prices and low short-dated realized volatility, the current landscape demonstrates heightened anticipation of the impending U.S. election and overall optimism with growing open positions of ETH call options. 

    To Access the Full Report: 

    Block Scholes x Bybit Crypto Derivatives Analytics Report (2024.10.23)

    #Bybit / #TheCryptoArk /#BybitResearch

    About Bybit

    Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

    For more details about Bybit, please visit Bybit Press 

    For media inquiries, please contact: media@bybit.com

    For more information, please visit: https://www.bybit.com

    For updates, please follow: Bybit’s Communities and Social Media

    Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

    Contact

    Head of PR

    Tony Au

    Bybit

    tony.au@bybit.com

    The MIL Network

  • MIL-Evening Report: RSF tackles Taiwan’s media freedom ‘Achilles heel’, boosts Asia Pacific monitoring action

    SPECIAL REPORT: By David Robie in Taipei

    It was a heady week for the Paris-based global media freedom watchdog Reporters Without Borders (RSF) — celebration of seven years of its Taipei office, presenting a raft of proposals to the Taiwan government, and hosting its Asia-Pacific network of correspondents.

    Director general Thibaut Bruttin and the Taipei bureau chief Cedric Alviani primed the Taipei media scene before last week’s RSF initiatives with an op-ed in the Taiwan Times by acknowledging the country’s media freedom advances in the face of Chinese propaganda.

    Taiwan rose eight places to 27th in the RSF World Press Freedom Index this year — second only to Timor-Leste in the Asia-Pacific region.

    But the co-authors also warned over the credibility damage caused by media “too often neglect[ing] journalistic ethics for political or commercial reasons”.

    As a result, only three in 10 Taiwanese said they trusted the news media, according to a Reuters Institute survey conducted in 2022, one of the lowest percentages among democracies.

    “This climate of distrust gives disproportionate influence to platforms, in particular Facebook and Line, despite them being a major vector of false or biased information,” Bruttin and Alviani wrote.

    “This credibility deficit for traditional media, a real Achilles heel of Taiwanese democracy, puts it at risk of being exploited for malicious purposes, with potentially dramatic consequences.”

    Press freedom programme
    At a meeting with Taiwanese President Lai Ching-te and senior foreign affairs officials, Bruttin and his colleagues presented RSF’s innovative programme for improving press freedom, including the Journalism Trust Initiative (JTI), the first ISO-certified media quality standard; the Paris Charter on Artificial Intelligence and Journalism; and the Propaganda Monitor, a project aimed at combating propaganda and disinformation worldwide.

    RSF director-general Thibaut Bruttin speaking at the reception celebrating seven years of Taipei’s Asia Pacific office. Image: Pacific Media Watch

    The week also highlighted concerns over the export of the China’s “New World Media Order”, which is making inroads in some parts of the Asia-Pacific region, including the Pacific.

    At the opening session of the Asia-Pacific correspondents’ seminar, delegates referenced the Chinese disinformation and assaults on media freedom strategies that have been characterised as the “great leap backwards for journalism” in China.

    “Disinformation — the deliberate spreading of false or biased news to manipulate minds — is gaining ground around the world,” Bruttin and Alviani warned in their article.

    “As China and Russia sink into authoritarianism and export their methods of censorship and media control, democracies find themselves overwhelmed by an incessant flow of propaganda that threatens the integrity of their institutions.”

    Both Bruttin and Alviani spoke of these issues too at the celebration of the seventh anniversary of the Asia-Pacific office in Taipei.

    Why Taipei? Hongkong had been an “likely choice, but not safe legally”, admitted Bruttin when they were choosing their location, so the RSF team are happy with the choice of Taiwan.

    Hub for human rights activists
    “I think we were among the first NGOs to have established a presence here. We kind of made a bet that Taipei would be a hub for human rights activists, and we were right.”

    About 200 journalists, media workers and press freedom and human rights advocates attended the birthday bash in the iconic Grand Hotel’s Yuanshan Club. So it wasn’t surprising that there was a lot of media coverage raising the issues.

    RSF director-general Thibaut Bruttin (centre) with correspondents Dr David Robie and Dr Joseph Fernandez in Taipei. Image: Pacific Media Watch

    In an interview with Voice of America’s Joyce Huang, Bruttin was more specific about the “insane” political propaganda threats from China faced by Taiwan.

    However, Taiwan “has demonstrated resilience and has rich experience in resisting cyber information attacks, which can be used as a reference for the world”.

    Referencing China as the world’s “biggest jailer of journalists”, Bruttin said: “We’re very worried, obviously.” He added about some specific cases: “We’ve had very troublesome reports about the situation of Zhang Zhan, for example, who was the laureate of the RSF’s [2021 press freedom] awards [in the courage category] and had been just released from jail, now is sent back to jail.

    “We know the lack of treatment if you have a medical condition in the Chinese prisons.

    “Another example is Jimmy Lai, the Hongkong press freedom mogul, he’s very likely to die in jail if nothing happens. He’s over 70.

    “And there is very little reason to believe that, despite his dual citizenship, the British government will be able to get him a safe passage to Europe.”

    Problem for Chinese public
    Bruttin also expressed concern about the problem for the general public, especially in China where he said a lot of people had been deprived of the right to information “worthy of that name”.

    “And we’re talking about hundreds of millions of people. And it’s totally scandalous to see how bad information is treated in the People’s Republic of China.”

    Seventeen countries in the Asia-Pacific region were represented in the network seminar.

    Representatives of Australia, Cambodia, Hongkog, Indonesia, Japan, Myanmar, Mongolia, New Zealand, Papua New Guinea, Philippines, South Korea, Tibet, Thailand and Vietnam were present. However, three correspondents (Malaysia, Singapore and Timor-Leste) were unable to be personally present.

    Discussion and workshop topics included the RSF Global Strategy; the Asia-Pacific network and the challenges being faced; best practice as correspondents; “innovative solutions” against disinformation; public advocacy (for authoritarian regimes; emerging democracies, and “leading” democracies); “psychological support” – one of the best sessions; and the RSF Crisis Response.

    RSF Oceania colleagues Dr David Robie (left) and Dr Joseph Fernandez . . . mounting challenges. Image: Pacific Media Watch

    What about Oceania (including Australia and New Zealand) and its issues? Fortunately, the countries being represented have correspondents who can speak our publicly, unlike some in the region facing authoritarian responses.

    Australia
    Australian correspondent Dr Joseph M Fernandez, visiting associate professor at Curtin University and author of the book Journalists and Confidential Sources: Colliding Public Interests in the Age of the Leak, notes that Australia sits at 39th in the RSF World Press Freedom Index — a drop of 12 places from the previous year.

    “While this puts Australia in the top one quarter globally, it does not reflect well on a country that supposedly espouses democratic values. It ranks behind New Zealand, Taiwan, Timor-Leste and Bhutan,” he says.

    “Australia’s press freedom challenges are manifold and include deep-seated factors, including the influence of oligarchs whose own interests often collide with that of citizens.

    “While in opposition the current Australian federal government promised reforms that would have improved the conditions for press freedom, but it has failed to deliver while in government.

    “Much needs to be done in clawing back the over-reach of national security laws, and in freeing up information flow, for example, through improved whistleblower law, FOI law, source protection law, and defamation law.”

    Dr Fernandez criticises the government’s continuing culture of secrecy and says there has been little progress towards improving transparency and accountability.

    “The media’s attacks upon itself are not helping either given the constant moves by some media and their backers to undermine the efforts of some journalists and some media organisations, directly or indirectly.”

    A proposal for a “journalist register” has also stirred controversy.

    Dr Fernandez also says the war on Gaza has “highlighted the near paralysis” of many governments of the so-called established democracies in “bringing the full weight of their influence to end the loss of lives and human suffering”.

    “They have also failed to demonstrate strong support for journalists’ ability to tell important stories.”


    An English-language version of this tribute to the late RSF director-general Christophe Deloire, who died from cancer on 8 June 2024, was screened at the RSF Taipei reception. He was 53. Video: RSF

    Aotearoa New Zealand
    In New Zealand (19th in the RSF Index), although journalists work in an environment free from violence and intimidation, they have increasingly faced online harassment. Working conditions became tougher in early 2022 when, during protests against covid-19 vaccinations and restrictions and a month-long “siege” of Parliament, journalists were subjected to violence, insults and death threats, which are otherwise extremely rare in the country.

    Research published in December 2023 revealed that high rates of abuse and threats directed at journalists put the country at risk of “mob censorship” – citizen vigilantism seeking to “discipline” journalism. Women journalists bore the brunt of the online abuse with one respondent describing her inbox as a “festering heap of toxicity”.

    While New Zealand society is wholeheartedly multicultural, with mutual recognition between the Māori and European populations enshrined in the 1840 Treaty of Waitangi, this balance is under threat from a draft Treaty Principles Bill.

    The nation’s bicultural dimension is not entirely reflected in the media, still dominated by the English-language press. A rebalancing is taking place, as seen in the success of the Māori Television network and many Māori-language programmes in mass media, such as Te Karere, The Hui and Te Ao Māori News.

    Media plurality and democracy is under growing threat with massive media industry cuts this year.

    New Zealand media also play an important role as a regional communications centre for other South Pacific nations, via Tagata Pasifika, Pacific Media Network and others.

    Papua New Guinea’s Belinda Kora (left) with RSF colleagues . . . “collaborating in our Pacific efforts in seeking the truth”. Image: Belinda Kora

    Papua New Guinea
    The Papua New Guinea correspondent, Belinda Kora, who is secretary of the revised PNG Media Council and an ABC correspondent in Port Moresby, succeeded former South Pacific Post Ltd chief executive Bob Howarth, the indefatigable media freedom defender of both PNG and Timor-Leste.

    Currently PNG (91st in the RSF Index) is locked in a debate over a controversial draft government media policy – now in its fifth version – that critics regard as a potential tool to crack down on media freedom. But Kora is optimistic about RSF’s role.

    “I am excited about what RSF is able and willing to bring to a young Pacific region — full of challenges against the press,” she says.

    “But more importantly, I guess, is that the biggest threat in PNG would be itself, if it continues to go down the path of not being able to adhere to simple media ethics and guidelines.

    “It must hold itself accountable before it is able to hold others in the same way.

    “We have a small number of media houses in PNG but if we are able to stand together as one and speak with one voice against the threats of ownership and influence, we can achieve better things in future for this industry.

    “We need to protect our reporters if they are to speak for themselves and their experiences as well. We need to better provide for their everyday needs before we can write the stories that need to be told.

    “And this lies with each media house.

    The biggest threat for the Pacific as a whole? “I guess the most obvious one would be being able to remain self-regulated BUT not being accountable for breaching our individual code of ethics.

    “Building public trust remains vital if we are to move forward. The lack of media awareness also contributes to the lack of ensuring media is given the attention it deserves in performing its role — no matter how big or small our islands are,” Kora says.

    “The press should remain free from government influence, which is a huge challenge for many island industries, despite state ownership.

    Kora believes that although Pacific countries are “scattered in the region”, they are able to help each other more, to better enhance capacity building and learning from their mistakes with collaboration.

    “By collaborating in our efforts in seeking the truth behind many of our big stories that is affecting our people. This I believe will enable us to improve our performance and accountability.”

    Example to the region
    Meanwhile, back in Taiwan on the day that RSF’s Thibaut Bruttin flew out, he gave a final breakfast interview to China News Agency (CNA) reporter Teng Pei-ju who wrote about the country building up its free press model as an example to the region.

    “Taiwan really is one of the test cases for the robustness of journalism in the world,” added Bruttin, reflecting on the country’s transformation from an authoritarian regime that censored information into a vibrant democracy that fights disinformation.

    Dr David Robie, convenor of the Asia Pacific Media Network’s Pacific Media Watch project and author of several media and politics books, including Don’t Spoil My Beautiful Face: Media, Mayhem and Human Rights in the Pacific, has been an RSF correspondent since 1996.

    RSF Asia Pacific correspondents and staff pictured at the Grand Hotel’s Yuanshan Club. Image: RSF

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: Federal Home Loan Bank of Des Moines Announces Third Quarter 2024 Financial Results, Declares Dividend

    Source: GlobeNewswire (MIL-OSI)

    DES MOINES, Iowa, Oct. 25, 2024 (GLOBE NEWSWIRE) —  

    Third Quarter 2024 Highlights

    • Net income of $204 million
    • Voluntary community and housing contributions of $40 million
    • Affordable Housing Program (AHP) assessments of $23 million
    • Advances totaled $98.9 billion
    • Mortgage loans held for portfolio, net totaled $11.4 billion
    • Letters of credit totaled $18.2 billion
    • Retained earnings totaled $3.4 billion

    Dividend

    The Board of Directors approved a third quarter 2024 dividend to be paid at an annualized rate of 9.50 percent on average activity-based stock, and 6.00 percent on average membership stock, unchanged from the prior quarter. The Federal Home Loan Bank of Des Moines (the Bank) expects to make dividend payments totaling $137 million on November 13, 2024.

    Affordable Housing and Community Impact

    The Bank’s housing and community development programs are central to its mission by providing reliable liquidity and funding to help its members build strong communities and support their affordable housing needs. The Bank contributes 10 percent of its net income each year to its AHP, an annual grant program that supports the creation, preservation, or purchase of affordable housing. This program includes a competitive AHP and two down payment products called Home$tart and the Native American Homeownership Initiative. During the third quarter of 2024, the Bank accrued AHP assessments of $23 million and disbursed $13 million of AHP funds through this program. The Bank recorded an additional $4 million voluntary AHP contribution during the third quarter of 2024.

    In addition to its AHP, the Bank offers its members other voluntary programs to further its housing mission and provide more support for affordable housing initiatives. During the third quarter of 2024, the Bank authorized an additional $4 million through Mortgage Rate Relief (MRR), which will provide a total of approximately $29 million in subsidy to those seeking affordable homeownership. MRR is designed to make homeownership attainable for borrowers at or below 80 percent of the area median income, by providing them an interest rate that is approximately two percentage points lower than the current market rate. During the third quarter of 2024, the Bank funded $210 million of loans under this program and recorded $20 million in subsidy expense. During the third quarter of 2024, the Bank launched a new program, the Habitat for Humanity® Advance Rate Discount. This program provides up to $100 million in zero percent advances to members that originate or purchase mortgage loans from a Habitat for Humanity® affiliate. During the third quarter of 2024, the Bank originated $70 million of zero percent advances and recorded $16 million in subsidy expense.

    Financial Results Discussion

    Net Income – For the three and nine months ended September 30, 2024, the Bank recorded net income of $204 million and $708 million compared to $265 million and $706 million for the same periods in 2023.

    Net Interest Income – For the three and nine months ended September 30, 2024, the Bank recorded net interest income of $327 million and $995 million, a decrease of $13 million and an increase of $36 million when compared to the same periods in 2023. The decline during the three months ended September 30, 2024 was primarily due to lower average advance balances, which also reduced earnings on invested capital. The decline was offset in part by improved asset-liability spreads on our investments, driven by higher-yielding mortgage-backed security (MBS) purchases.

    Net interest income during the nine months ended September 30, 2024 increased primarily due to higher asset-liability spread resulting largely from higher-yielding MBS purchases and increased longer-term advances, as well as higher short-term interest rates, which improved earnings on invested capital. The increase was partially offset by lower average advance balances.

    Other Income (Loss) – For the three and nine months ended September 30, 2024, the Bank recorded other losses of $14 million and $19 million, a decline of $17 million and an improvement of $10 million when compared to the same periods in 2023. The decline in other (income) loss during the three months ended September 30, 2024 was primarily due to the net changes in fair value on the Bank’s trading securities, fair value option instruments, and economic derivatives. During the nine months ended September 30, 2024, the improvement in other (income) loss was driven by net gains recorded on litigation settlements and increased fees on standby letters of credit. The increase was offset in part by the net changes in fair value on the Bank’s trading securities, fair value option instruments, and economic derivatives.

    Other Expense – For the three and nine months ended September 30, 2024, the Bank recorded other expense of $86 million and $191 million, an increase of $38 million and $47 million when compared to the same periods in 2023. The increase during the three and nine months ended September 30, 2024 was primarily driven by an increase in voluntary community and housing contributions of $35 million and $32 million when compared to the same periods in 2023. Additionally, the increase during the nine months ended September 30, 2024 was driven by higher contract labor and consultant costs.

    Assets – The Bank’s total assets decreased to $162.0 billion at September 30, 2024, from $184.4 billion at December 31, 2023, driven primarily by a decline in advances. Advances decreased $23.6 billion due mainly to a decline in borrowings by large depository institution members, offset in part by an increase in borrowings by insurance companies.

    Capital – Total capital decreased to $9.3 billion at September 30, 2024 from $9.8 billion at December 31, 2023, primarily due to a decrease in activity-based capital stock resulting from a decline in advance balances.

    Federal Home Loan Bank of Des Moines
    Financial Highlights
    (preliminary and unaudited)
    Dollars in millions
    Selected Balance Sheet Items September 30,
    2024
      December 31,
    2023
    Advances $ 98,923     $ 122,530  
    Investments   49,649       49,828  
    Mortgage loans held for portfolio, net   11,398       9,967  
    Total assets   161,979       184,406  
    Consolidated obligations   150,532       171,498  
    Capital stock – Class B putable   5,892       6,873  
    Retained earnings   3,422       3,138  
    Total capital   9,284       9,831  
    Total regulatory capital1   9,323       10,023  
    Regulatory capital ratio   5.76 %     5.44 %
    1 Total regulatory capital includes capital stock, mandatorily redeemable capital stock, and retained earnings. The regulatory capital ratio is calculated as regulatory capital as a percentage of period end assets.

            

      For the Three Months Ended   For the Nine Months Ended
      September 30,   September 30,
    Operating Results   2024       2023       2024       2023  
    Net interest income $ 327     $ 340     $     995     $    959  
    Provision (reversal) for credit losses on mortgage loans               (2 )     1  
    Other income (loss)   (14 )     3       (19 )     (29 )
    Other expense   86       48       191       144  
    Affordable Housing Program assessments   23       30       79       79  
    Net income $ 204     $ 265     $ 708     $ 706  
    Performance Ratios              
    Net interest spread   0.48 %     0.42 %     0.45 %     0.42 %
    Net interest margin   0.77       0.74       0.75       0.71  
    Return on average equity (annualized)   8.40       11.31       9.77       10.28  
    Return on average assets (annualized)   0.47       0.56       0.52               0.51  

    The financial results reported in this earnings release for the third quarter of 2024 are preliminary until the Bank announces unaudited financial results in its Third Quarter 2024 Form 10-Q filed with the Securities and Exchange Commission, expected to be available next month at www.fhlbdm.com and www.sec.gov.

    The Bank is a member-owned cooperative whose mission is to be a reliable provider of funding, liquidity, and services for its members so that they can meet the housing, business, and economic development needs of the communities they serve. The Bank is wholly owned by over 1,250 members, including commercial banks, savings institutions, credit unions, insurance companies, and community development financial institutions. The Bank serves Alaska, Hawaii, Idaho, Iowa, Minnesota, Missouri, Montana, North Dakota, Oregon, South Dakota, Utah, Washington, Wyoming, and the U.S. Pacific territories of American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands. The Bank is one of 11 regional banks that make up the Federal Home Loan Bank System.

    Statements contained in this announcement, including statements describing the objectives, projections, estimates, or future predictions in the Bank’s operations, may be forward-looking statements. These statements may be identified by the use of forward-looking terminology, such as believes, projects, expects, anticipates, estimates, intends, strategy, plan, could, should, may, and will or their negatives or other variations on these terms. By their nature, forward-looking statements involve risk or uncertainty, and actual results could differ materially from those expressed or implied or could affect the extent to which a particular objective, projection, estimate, or prediction is realized. As a result, you are cautioned not to place undue reliance on such statements. A detailed discussion of the more important risks and uncertainties that could cause actual results and events to differ from such forward-looking statements can be found in the “Risk Factors” section of the Bank’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the SEC. These forward-looking statements apply only as of the date they are made, and the Bank undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.

    Contact: Julie DeVader          
    515.412.2172
    jdevader@fhlbdm.com

    The MIL Network

  • MIL-OSI USA: Powell Center Seminar: City-Scale Geothermal Energy Everywhere to Support Renewable Resilience – a Transcontinental Cooperation

    Source: US Geological Survey

    Join us for a Powell Center seminar on Tuesday, November 5th, from 10-11am MT/12-1pm ET.

    City-Scale Geothermal Energy Everywhere to Support Renewable Resilience – a Transcontinental Cooperation – Erick Burns, USGS

    Despite the proven efficacy of geothermal energy as a city-scale heating and cooling resource, the relative newness of most city-scale applications has resulted in limited widespread adoption.  Geothermal heating and cooling resources are ubiquitous and diverse, with technologies available both for harvesting ambient heat or for storing thermal energy.  These local low-carbon, baseload energy sources provide resilience, security, and local jobs.  As part of a U.S. Geological Survey hosted Powell Center project, a range of European and US partners (geological surveys, geoscience organizations, industry representatives and universities) seek an acceleration of understanding that could lead to adoption of geothermal technologies that offset shortcomings of other renewable technologies (e.g., episodic sources, and critical mineral demands).  Because better availability of geothermal energy will contribute to diversification of energy sources and improve global energy security, Powell Center team goals include the development of authoritative information suitable for city-managers and other decision-makers. 

    Speaker:

    Erick Burns is a Research Hydrologist and the Project Co-chief for the U.S. Geological Survey Geothermal Resources Investigations Project (GRIP).  He coordinates the research of ~30 scientists who are supported wholly, or in part, by the GRIP and a range of externally funded projects. He is the primary task-leader for: (1) development of updated new resource assessments for conventional hydrothermal and EGS electricity production in the western U.S., (2) development of local- and national-scale assessment tools for low-temperature and underground thermal energy storage (UTES) resources, and (3) joint-energy and water-resources studies in the northwest U.S. volcanic terranes. He leads multi-center/institution teams on machine learning for geothermal energy assessment, and on novel methods of characterizing and evaluating UTES resources (with the eventual goal of developing national maps of these resources).  He is a team-member of the USGS geologic energy storage project (as the thermal storage subject matter expert), and on projects developing temperature models for petroleum reservoirs. He has active collaborations in Europe and South America on these topics.

    Sign up to get direct emails for our future seminars!

    MIL OSI USA News

  • MIL-Evening Report: Why do kids cheat? Is it normal, or should I be worried?

    Source: The Conversation (Au and NZ) – By Penny Van Bergen, Head of School of Education and Professor of Educational Psychology, University of Wollongong

    Basilco Stock Studio/ Shutterstock

    Everyone knows a kid who cheats at Monopoly or backyard cricket. Perhaps they have even cheated on a test at school.

    If your notice your own child is doing this, you may worry they are headed for a life of crime.

    But in developmental terms, cheating is not usually a cause for concern for kids.

    What is cheating?

    Cheating occurs when a child behaves dishonestly to gain an unfair advantage. They might pretend to roll a six, peek at others’ cards, score a sports game incorrectly, or use video game modifications to skip levels.

    Despite parents’ and teachers’ best efforts, cheating is remarkably common. In one experiment, five-year-olds were asked not to peek inside a box while the experimenter left the room. Almost all peeked and most then denied having done so.

    A sign of development

    The capacity to deceive can signal the emergence of new skills, including an understanding of others peoples’ minds.

    To cheat effectively, we have to think about what someone else is thinking. We then need to trick them into believing a different reality. These cognitive skills only emerge in preschool, and it is not until the primary years that children can successfully maintain a false story over time.

    Research shows it is very common for children to cheat.
    spass/Shutterstock

    Cheating at school

    As children get older, they can get more cautious about cheating in general, but also start cheating at school.

    In a US study, more than three in four high school students reported cheating at school at least once over the past year.

    Common techniques included sharing their work with others, getting test answers ahead of time, plagiarising from the internet, and collaborating when they weren’t supposed to.

    Students were more likely to see cheating as acceptable when helping a peer, or when they could rationalise the behaviour in a pro-social way (for example, they ran out of time and needed to cheat because they were caring for a family member).

    Temptation matters

    Like adults, children are more likely to cheat when the temptation is greater. In one study, children aged seven to ten were more likely to cheat at a die-rolling game if they could win a bigger prize.

    Children and adolescents also report being more likely to cheat to avoid negative consequences. As far back as 1932, US school principal M.A. Steiner wrote how too much work encourages students to cheat. In a 2008 study, students themselves reported cheating at school because they were uninterested in the material or under pressure to perform.

    While temptation encourages cheating, the risk of being caught can encourage honesty. Children must weigh up the benefits of cheating against the risks of being caught.

    As they get older, children may also consider how cheating impacts their sense of self. For example, “being a good person is important to me – so I won’t cheat”.

    Do boys cheat more than girls?

    Some children are more likely to cheat than others. For example, in a 2019 study in which children’s rolls of six dice could win them prizes, boys cheated more than girls. Boys and girls also approached cheating differently: girls were more likely to cheat to avoid losses, while boys were equally motivated by losses and gains.

    Social skills also make a difference. A 2003 US study showed second grade children who have been rejected by their peers are more likely to cheat at board games – even when playing with new children they have never met before. It is possible such children are not as good at regulating their emotions and behaviours.

    Adolescents with lower self-restraint and greater tolerance for breaking rules are more likely to accept academic cheating, as are those who misbehave in class.

    On study suggested boys are more likely to cheat than girls.
    Jacob Lund/Shutterstock

    How can adults discourage cheating?

    Although cheating is common, it can pose increasing problems for children and teens as the stakes become higher. Research with Chinese students in the eighth grade showed those who cheated when scoring their own test were less likely to have learned the correct answer later on.

    Here are four things parents and teachers can do to help discourage cheating.

    1. Have open conversations: talk openly and compassionately about why cheating is not a good idea (for example, “it ruins the fun for your friends”). Research shows children and adolescents who made a promise to experimenters not to cheat at a game were less likely to do so. But children who fear getting in trouble are less likely to tell the truth.

    2. Don’t put too much pressure on results: when talking about school, use language related to learning rather than performance (“just try your best, that’s all you can do”). Studies show highly competitive academic environments make cheating more likely, because the benefits of success and risks of failure are heightened.

    3. Be positive about your child’s character: in one study, preschoolers were allocated to one of two groups. In the “good reputation” group, children were told “I know kids in your class and they told me you were a good kid”. In another group, children were not told anything. All children were then asked not to peek at a tempting toy while the experimenter left the room. Those in the good reputation group were less likely to cheat (60%) than those in other group (90%).

    4. Show kids how it’s done: if adults are being honest and open, children are more likely to do the same. In one study, children were told there was a big bowl of candy in the next room. When this turned out to be a lie, children themselves were more likely to cheat in a game and to lie about it.

    Penny Van Bergen receives funding from the Australian Research Council and the NSW Department of Education.

    ref. Why do kids cheat? Is it normal, or should I be worried? – https://theconversation.com/why-do-kids-cheat-is-it-normal-or-should-i-be-worried-242022

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI USA: Defense Official Statement on AUKUS Pillar 2 and Exercise Maritime Big Play

    Source: United States Department of Defense

    The following statement can be attributed to Ms. Madeline Mortelmans who is currently performing the duties of the Assistant Secretary of Defense for Strategy, Plans and Capabilities. Her office is lead for both pillars of AUKUS within the department and is in close partnership with all of the DOD stakeholders.

    “Secretary Austin has said several times in the past that our alliances and partnerships are our greatest global strategic advantage. Specifically, AUKUS presents a unique opportunity for Australia, the United Kingdom and the United States to foster a more capable, more combined force of the future. And in so doing, we will strengthen deterrence in the Indo-Pacific.

    Through AUKUS, we are working across the full spectrum of capability development, generating requirements, co-developing new systems, deepening industrial based collaboration and ultimately delivering advanced capabilities to our forces. AUKUS Pillar 1 focuses these co-development efforts on delivering an advanced nuclear power submarine capability through the optimal pathway.

    Pillar 2 focuses on the development and delivery of emerging technology. AUKUS Pillar 2 is designed to harness the combined industrial and innovation bases of the tri-lateral partners to ensure that our forces are equipped with cutting edge interoperable military capabilities and prepared to face down aggression in whatever form it may take.

    In Pillar 2, we’re building a more capable combined joint force for the future, working across the full spectrum of capability development and we’re already delivering. This year, we’re advancing our undersea warfare capabilities by expanding our ability to launch and recover uncrewed underwater systems from torpedo tubes on current classes of British and US submarines, that will increase the range and capability of our undersea forces.

    We’re integrating the Stingray lightweight torpedo into the P-8A maritime patrol aircraft, which will support our forces in being more interchangeable while providing resilience to munitions stockpiles across AUKUS nations. At the same time, we’re also implementing a fundamental shift to more closely integrate our systems and break down barriers to collaboration at every stage and in every part of our systems.

    We’ve welcomed collaboration with the International Joint Requirements Oversight Council or I-JROC, a critical collaborative forum to identify and validate joint and combined requirements. The I-JROC will ensure that we have prioritized combined and joint solutions from the very start and that the capabilities we develop under Pillar 2 address some of the most pressing challenges our forces face.

    A cornerstone of AUKUS Pillar 2 remains the opportunity to leverage the best of our defense industrial bases in combined innovation communities. This year we executed the first office innovation challenge focused on electronic warfare. We announced the winners last month and our teams are working to develop a robust two-year plan to increase the collaboration between and among our innovation centers of excellence.

    By the end of the year, we’ll have convened meetings with the Advanced Capabilities Industry Forum in each country. Engagements provide an opportunity for representatives across government and industry to exchange ideas and deepen industrial based collaboration.

    This week we’re here in Jervis Bay to observe the Maritime Big Play, which is an important demonstration of AUKUS in action. The Maritime Big Play is a series of integrated trilateral experiments and exercises aimed at enhancing capability development, improving interoperability and increasing the sophistication and scale of autonomous systems in the maritime domain. These experiments address the need to expand the reach, capability and capacity of our forces in the maritime environment through the use of artificial intelligence and autonomous systems.

    Over the past several weeks, we’ve been testing and refining the ability to jointly operate uncrewed maritime systems, to share and process maritime data from all three nations, and to provide real time maritime domain awareness to support decision making. The Maritime Big Play allows AUKUS partners to practice fielding and maintaining thousands of uncrewed systems, gaining valuable experience operating in coalitions to solve realistic operational problems such as improving undersea situational awareness.

    Our work will inform AUKUS partners’ understanding of how crewed and uncrewed capabilities can be integrated to get an operational advantage, and where we can achieve cost savings and improved efficiencies in acquisition, maintenance and sustainment activities.

    Maritime Big Play isn’t just a demonstration for demonstration’s sake. It’s our goal to transition cutting edge technologies into capabilities that give our forces decisive advantage as quickly as we can. This year, Japan joined the Maritime Big Play as an observer. We look forward to deepening their participation in the coming years. All of this together underpins a more strategic approach to ensure that AUKUS and like-minded partners can operate new autonomous uncrewed systems more effectively as a coalition force from the start.

    This is only the first in our series of experiments and demonstrations. Over time, Maritime Big Play will grow and evolve to reflect the emerging technologies, new systems and new operational requirements. I want to emphasize that AUKUS is dynamic. It will grow, it will evolve as the world changes around us, and as we break down the old barriers to cooperation and inevitably discover new ones.

    AUKUS is building a foundation for deep defense industrial cooperation and delivering advanced capabilities that can and will ensure our defense forces succeed in enhancing peace and stability in the Indo-Pacific alongside UK and Australia partners both now and in the years ahead. Thank you.”

    MIL OSI USA News

  • MIL-OSI: Lake Shore Bancorp, Inc. Declares Third Quarter 2024 Dividend

    Source: GlobeNewswire (MIL-OSI)

    DUNKIRK, N.Y., Oct. 24, 2024 (GLOBE NEWSWIRE) — Lake Shore Bancorp, Inc. (the “Company”) (NASDAQ: LSBK), the holding company for Lake Shore Savings Bank (the “Bank”), announced today that the Board of Directors declared a cash dividend of $0.18 per share on its outstanding common stock on October 23, 2024. The dividend is expected to be paid on November 8, 2024 to stockholders of record as of November 4, 2024. The Company received the written approval from the Federal Reserve Bank of Philadelphia (the “Reserve Bank”) on September 30, 2024 to pay a cash dividend of $0.18 per share to its stockholders.

    About Lake Shore
    Lake Shore Bancorp, Inc. (NASDAQ Global Market: LSBK) is the mid-tier holding company of Lake Shore Savings Bank, a federally chartered, community-oriented financial institution headquartered in Dunkirk, New York. The Bank has ten full-service branch locations in Western New York, including four in Chautauqua County and six in Erie County. The Bank offers a broad range of retail and commercial lending and deposit services. The Company’s common stock is traded on the NASDAQ Global Market as “LSBK”. Additional information about the Company is available at www.lakeshoresavings.com.

    Safe-Harbor
    This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, that are based on current expectations, estimates and projections about the Company’s and the Bank’s industry, and management’s beliefs and assumptions. Words such as anticipates, expects, intends, plans, believes, estimates and variations of such words and expressions are intended to identify forward-looking statements. Such statements reflect management’s current views of future events and operations. These forward-looking statements are based on information currently available to the Company as of the date of this release. It is important to note that these forward-looking statements are not guarantees of future performance and involve and are subject to significant risks, contingencies, and uncertainties, many of which are difficult to predict and are generally beyond our control including, but not limited to, compliance with the Bank’s Consent Order and an Individual Minimum Capital Requirement both issued by the Office of the Comptroller of the Currency, compliance with the Written Agreement with the Federal Reserve Bank of Philadelphia, data loss or other security breaches, including a breach of our operational or security systems, policies or procedures, including cyber-attacks on us or on our third party vendors or service providers, economic conditions, the effect of changes in monetary and fiscal policy, inflation, unanticipated changes in our liquidity position, climate change, geopolitical conflicts, public health issues, increased unemployment, deterioration in the credit quality of the loan portfolio and/or the value of the collateral securing repayment of loans, reduction in the value of investment securities, the cost and ability to attract and retain key employees, regulatory or legal developments, tax policy changes, dividend policy changes, and our ability to implement and execute our business plan and strategy and expand our operations. These factors should be considered in evaluating forward looking statements and undue reliance should not be placed on such statements, as our financial performance could differ materially due to various risks or uncertainties. We do not undertake to publicly update or revise our forward-looking statements if future changes make it clear that any projected results expressed or implied therein will not be realized.

    Source: Lake Shore Bancorp, Inc.
    Category: Financial

    Investor Relations/Media Contact
    Taylor M. Gilden
    Chief Financial Officer and Treasurer
    Lake Shore Bancorp, Inc.
    31 East Fourth Street
    Dunkirk, New York 14048
    (716) 366-4070 ext. 1065

    The MIL Network

  • MIL-OSI: Ingersoll Rand Declares Regular Quarterly Cash Dividend

    Source: GlobeNewswire (MIL-OSI)

    DAVIDSON, N.C., Oct. 24, 2024 (GLOBE NEWSWIRE) — The Board of Directors of Ingersoll Rand Inc. (NYSE: IR), a global provider of mission-critical flow creation and life science and industrial solutions, declared today a regular quarterly cash dividend of $0.02 (two cents) per share of common stock payable on December 5, 2024 to stockholders of record on November 14, 2024.

    About Ingersoll Rand Inc.
    Ingersoll Rand Inc. (NYSE:IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to Making Life Better for our employees, customers, shareholders, and planet. Customers lean on us for exceptional performance and durability in mission-critical flow creation and life science and industrial solutions. Supported by over 80+ respected brands, our products and services excel in the most complex and harsh conditions. Our employees develop customers for life through their daily commitment to expertise, productivity, and efficiency. For more information, visit our Investor Relations website here.

    Investors:
    Matthew Fort
    Matthew.Fort@irco.com

    Media:
    Sara Hassell
    Sara.Hassell@irco.com

    The MIL Network

  • MIL-OSI: IBEX Limited to Announce First Quarter 2025 Financial Results on November 7th, 2024

    Source: GlobeNewswire (MIL-OSI)

    WASHINGTON, Oct. 24, 2024 (GLOBE NEWSWIRE) — IBEX Limited (“ibex”) (Nasdaq: IBEX), a leading global provider of business process outsourcing (BPO) and customer engagement technology solutions, today announced it will report first quarter 2025 financial results after the market close on Thursday, November 7, 2024. Management will host a conference call and webcast to discuss the Company’s financial results, recent developments, and business outlook at 4:30 p.m. ET.

    What:   IBEX Limited Announces First Quarter 2025 Financial Results
    When:   Thursday, November 7, 2024
    Time:   4:30 p.m. ET
    Live Call:   (800) 715-9871 [USA & Canada Toll-Free]; Conference ID: 5528023
    Webcast:   https://investors.ibex.co/ 
         

    About ibex
    ibex delivers innovative business process outsourcing (BPO), smart digital marketing, online acquisition technology, and end-to-end customer engagement solutions to help companies acquire, engage and retain valuable customers. Today, ibex operates a global CX delivery center model consisting of approximately 30 operations facilities around the world, while deploying next generation technology to drive superior customer experiences for many of the world’s leading companies across retail, e-commerce, healthcare, fintech, utilities and logistics.

    ibex leverages its diverse global team of over 30,000 employees together with industry-leading technology, including the AI-powered ibex Wave iX solutions suite, to manage nearly 175 million critical customer interactions, adding over $2.2B in lifetime customer revenue each year and driving a truly differentiated customer experience. To learn more, visit our website at ibex.co and connect with us on LinkedIn.

    Investor Contact
    Michael Darwal
    ibex
    Michael.Darwal@ibex.co

    Media Contact
    Dan Burris
    ibex
    Daniel.Burris@ibex.co

    The MIL Network

  • MIL-OSI Economics: Inside an AI-native ad agency

    Source: Microsoft

    Headline: Inside an AI-native ad agency

    To grasp the future of business, look to AI-native organizations: from processes to products, these companies are infusing every facet of their operations with AI. In a previous newsletter, I wrote about common ways that AI natives work differently. Today I’m zooming in on one company I find particularly compelling: Supernatural AI, a 30-employee creative agency that’s inventing a more efficient, strategic way of doing business.  

    Founded in 2021, Supernatural bills itself as “a place where people and machines work together to make advertising better.” It uses AI to weave data into all its offerings, from consumer research and brand strategy to creative ideation, and clients have included US Bank, Kayak, and Zipcar. Like many AI natives we talked to, Supernatural leverages AI to play both offense (unlocking new business opportunities and delivering value to clients) and defense (reducing costs). 

    Deploy AI to uncover new business value  
    Traditionally, only major brands—like national fast-food chains—have been able to localize their advertising to specific cities. It’s time-consuming and expensive to create so many iterations on the creative, let alone to ensure that every variation is grounded in local knowledge and data.  

    Supernatural is using AI to bring this capability to brands of all sizes. Employees can use AI to help generate hyperlocal social media ads in minutes rather than days, even when working with modest budgets. Humans then touch up what AI produces.  

    Humans and AI need each other,” Supernatural co-founder Mike Barrett told us. “AI doesn’t always have good judgment, but that’s okay—I have good judgment. AI has the ability to endlessly version assets. People don’t.”  

    That combination—human creativity and judgment paired with AI’s ability to brainstorm, iterate, and ground ideas in relevant data at great speed—is a powerful advantage. In advertising, “you have massive upward pressure on costs, and competition means you have downward pressure on pricing,” Barrett says. “The only way to resolve the margin squeeze is productivity. And we knew that the way to solve productivity was AI. We would use AI to claw back margin.”  

    Focus on what sets you apart 
    AI helps Supernatural with margins, but clients benefit too because the agency can deliver strategically driven results faster. Supernatural uses a data-and-AI platform—employees call it “The Superconductor”—built on more than two decades of research on advertising effectiveness, along with data about target audiences and competitors.  

    The platform keeps track of those many considerations, saving human energy and creating competitive advantage by leveraging data more effectively. Supernatural uses it to test messaging on AI avatars of customers instead of human focus groups, saving time and money. 

    With those capabilities, Supernatural is speeding up its process to create a competitive advantage over bigger, more established agencies. One client, US Bank, hired the agency to do a national campaign—choosing Supernatural over a longstanding partner that has decades of history and thousands of employees. The campaign went from brief to creative rollout in under four months, a process that previously would have taken nine.  

    Build a more fluid organization 
    Supernatural’s approach aligns with what my team and I have found in our research about AI-native organizations generally. For instance, AI natives tend to have more fluid org charts. At Supernatural, creative work is shared by people across roles, not just those with creative titles. The agency has hired people from many walks of life, including a former journalist, an investment banker, and a financial services marketer. Since AI scales data-informed advertising expertise across the staff, the company can hire for special perspectives, not just standard skills.  

    Getting the right staffing mix has required trial and error. At first, Supernatural envisioned hiring mostly experienced leaders to “manage” AI, but that didn’t always work. Barrett says it’s not only about experience: you have to find “tinkerers” who like to experiment with technology. 

    AI can be a sensitive subject in creative circles. Barrett tells creatives, “AI is no more coming for your job than circular saws came for the jobs of carpenters. The idea that you’re going to turn on some power tools, leave them in a room by themselves, and come back to fully finished furniture? It’s ludicrous.” Instead, he asks people to think of AI as “a power tool for creative people.” 

    Supernatural’s founders have deep experience in advertising, and they understand the industry’s challenges and how AI can solve them. We often talk about how AI can level the playing field for employees with less experience or skill, but we shouldn’t forget that it also empowers people who are already at the top of their game to reach new heights. 

    MIL OSI Economics

  • MIL-OSI: STOCKHOLDER INVESTIGATION: The M&A Class Action Firm Investigates the Merger of Sterling Bancorp, Inc.– SBT

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 24, 2024 (GLOBE NEWSWIRE) — Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating Sterling Bancorp, Inc. (Nasdaq: SBT), relating to a proposed merger with EverBank Financial Corp. Under the terms of the agreement, EverBank will acquire all outstanding shares of Sterling Bancorp in an all-cash transaction.

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

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

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

    About Monteverde & Associates PC

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

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

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

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

    The MIL Network