I’m a law professor who has written about Congress’ power of the purse and some of the legal and constitutional issues that surround it. Here’s a brief explanation of the concept – and of why you should care about it.
Concretely, Congress may enact laws that raise revenue through taxes and import duties, and it may also spend money for “the common Defence and general Welfare,” terms in the Constitution that are understood to cover almost any spending that Congress thinks is a good idea.
The Constitution, however, provides that “[n]o Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law.” Because of this clause, officials may not spend any government money unless a statute “appropriates,” or makes available, specific funds for the relevant purpose.
Although the Constitution forbids any appropriation for the Army that lasts longer than two years, Congress can choose in other contexts whether to provide an appropriation permanently or only for a prescribed length of time. Some benefits programs such as Social Security today have permanent appropriations, but most government agencies receive funds for their operations for just a year at a time.
James Madison, who wrote much of the U.S. Constitution, said Congress’ power of the purse was ‘the most complete and effectual weapon with which any constitution can arm the immediate representatives of the people.’ wynnter-iStock/Getty Images Plus
Leverage over policy and presidents
Why does all of this matter?
Historically, the British Parliament’s control over government funds created a powerful check on the crown, and Parliament developed the practice of annual appropriations to ensure that it would always have leverage over royal policy.
Reflecting this history, James Madison, the fourth president and a leading figure in the Constitutional Convention, wrote in the Federalist Papers that the power of the purse was “the most complete and effectual weapon with which any constitution can arm the immediate representatives of the people, for obtaining a redress of every grievance, and for carrying into effect every just and salutary measure.”
This sort of leverage over policy still matters. American presidents today exercise vast powers. Over time, Congress has conferred extensive regulatory authorities on administrative agencies that operate under the president’s supervision.
Congress has also established a large Army, Navy, and Air Force over which the president is commander in chief. Presidents, moreover, have claimed the power to employ these armed forces in significant ways even without a declaration of war or other specific authorization from Congress.
Congress’ power of the purse gives it a say in how these powers are exercised. If Congress doesn’t like what an administrative agency is doing, it can cut its budget or deny funds for enforcing certain regulations – something it does regularly.
Likewise, Congress can deny funds for certain military operations or impose constraints on military activities – something it also does with some regularity. In the 1970s, Congress helped end the Vietnam War in part by withholding appropriations for military activities in Indochina.
Who’s in charge here?
Annual appropriations also give rise to the frustrating phenomenon of government “shutdowns”: If annual funding runs out before Congress enacts new appropriations, government agencies generally must halt operations.
On the whole, however, annual appropriations continue to serve much the same purpose in the United States that they did in Britain: They provide a potent check on the executive branch.
Given how strong this check is, it may not be surprising that presidents have sought ways to get around it.
President Donald Trump, right, and Elon Musk, left, are cutting congressionally approved government programs and staff – an effort that may be unconstitutional. Andrew Harnik/Getty Images
Based on debatable legal claims, President Barack Obama continued certain health insurance subsidies under the Affordable Care Act even after Congress denied appropriations for them. President Joe Biden attempted massive student debt relief without clear authority from Congress. Courts blocked both those actions, but now the new Trump administration has adopted several controversial policies that implicate Congress’ power of the purse.
On the one hand, the administration has apparently offered many federal employees nine months of paid leave if they agree to resign from federal service. But the legal basis for these offers is unclear, and it may be that no current appropriation by Congress provides funds for them.
On the other hand, the administration has attempted to “pause” certain government spending, even though existing appropriations made by Congress may require at least some of this spending.
These actions could violate not only Congress’ constitutional power of the purse but also specific statutes that Congress has enacted to reinforce its constitutional power.
The buyout offers could violate a law called the Anti-Deficiency Act that makes it unlawful, and sometimes criminal, for government officials to commit to spending money without an appropriation providing the necessary funds.
For their part, the pauses could violate a 1974 law called the Impoundment Control Act that generally forbids the government from delaying or withholding spending that Congress has mandated. Courts are now considering challenges to these actions based on these laws and other issues.
Trump may be hoping that Congress will cure any legal problems by ratifying these actions after the fact in its next round of appropriations legislation. But if Trump is indeed defying Congress’ spending laws and yet faces no consequences, his actions could chip away at Congress’ authority to check presidential policies in the future through its spending choices.
James Madison would not have been pleased.
Zachary Price 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.
Source: The Conversation – UK – By Andrew Gawthorpe, Lecturer in History and International Studies, Leiden University
When a new US president takes office, his first order of business is usually to reassure America’s allies and warn its enemies. However, Donald Trump is doing things differently. It seems his goal is to strike fear into the heart not of America’s foes, but rather its friends.
American presidents have traditionally seen the country’s network of allies as a “force multiplier” – something that magnifies American power and applies it more effectively. A broad range of allies means trading partners, military bases and diplomatic support in international institutions. According to this line of reasoning, it is in America’s own interests to defend and support its allies – the benefits outweigh the cost.
Trump, by contrast, views allies both as competitors and burdens. He thinks they are too reliant on American military power to defend themselves, and that their economic relationship with the US makes them rich at the expense of American workers. He wants US allies, particularly in Europe, to spend more of their own money on defence and to buy more goods from the US.
He also seems even more willing than in his first term to deploy America’s formidable tools of coercion to make this happen. His widespread threats of tariffs, for instance, are designed to force countries to go along with his wishes, including in non-economic aspects of the relationship. He is also threatening to use economic and military force in alarming ways, such as to seize control of Canada, Greenland and the Panama Canal.
The result is a world in which American allies can no longer rely on the US to be a reliable partner. They may increasingly have to fend for themselves against not just their traditional foes, but also a predatory Washington.
Although all US allies are concerned about this turn of events, some are more surprised than others. The biggest shock has come in Europe, which has long occupied a privileged place in America’s strategic thinking.
Europeans knew that a second Trump term was going to be rough. On the campaign trail, for example, he vowed across-the-board tariffs of up to 20%. But they didn’t expect Trump to threaten the territory of Nato members Canada and Denmark, which owns Greenland.
As a result, Europeans’ view of the US has shifted since Trump returned to the White House. According to the results of a recent survey by the European Council on Foreign Relations, the majority of people in Europe no longer see the US as an ally that shares the same interests and values, instead agreeing that it is only a “necessary partner”.
For other US allies and partners, particularly in the global south, this shift is less surprising. Panama owes its existence to an act of US imperialism. The US sent military forces to assist the country in seceding from Colombia in 1903, with the ultimate goal of working with the country’s new government to build the canal.
But Panama has since witnessed numerous American military interventions. Most recently, in December 1989, the then US president, George H.W. Bush, ordered 20,000 US troops to Panama where they toppled the government and arrested the country’s president, Manuel Noriega, on charges of drug trafficking, racketeering and money laundering.
Non-western countries have long been used to the idea that the US will disregard their interests and take advantage of their weakness if policymakers in Washington deem it necessary. What we are witnessing now is the extension of this precariousness to all.
Weakness for flattery
For world leaders looking to navigate this turbulent time, there is an additional problem. Trump has a habit of personalising diplomacy, deciding whom he likes and whom he doesn’t like based on their perceived friendliness to him rather than a more detached calculation of their interests.
He is also a sucker for big, splashy acts of diplomacy. He often gives the impression that his main goal is to be able to sign a deal – any deal – which he can declare to be a victory, rather than giving too much thought to the underlying interests at stake.
This means that smart leaders can flatter and deceive him. In early February, Trump postponed tariffs on Mexico after the country’s president, Claudia Sheinbaum, promised to send troops to the US-Mexico border to tackle the cartels trafficking the drug fentanyl in the US.
The only problem is that almost all fentanyl is trafficked by US citizens at legal border crossings, who bring in very small quantities of the drug in their vehicles. According to Raúl Benítez, a military expert at Mexico’s National Autonomous University, the “ant-like traffic of fentanyl” makes control of the trade “almost impossible”.
But the occasional weakness for flattery hardly makes Trump reliable.
Instead, Trump presents US allies with a dangerous and unpredictable force. Like the leaders of Russia and China, Trump seems to view the world as split into spheres of influence in which powerful countries are free to bully their neighbours.
Many countries will conclude that America is just another aggressive great power to be managed, rather than a country that at least pays lip service to international law. Some might even decide they have no choice other than to develop closer relations with Russia and China, and drift out of the US orbit.
One thing is clear: US allies must do more to ensure they can defend their interests independently. Unlike a country such as Panama, European countries have the resources to do this, if only they can summon the will. They should count themselves lucky – and get to work.
Andrew Gawthorpe does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Bridget Jones, the endearingly chaotic heroine who is unlucky in love, is back – but not as many might expect. This is the fourth Bridget Jones film, which adapts the story of the third book in Helen Fielding’s much-loved series (the third film, Bridget Jones’s Baby, was based on the fourth book).
When Bridget Jones’s Diary came out in 2001, our heroine’s low-level eating disorder, neediness and alcohol abuse associated female singlehood with mental instability. In this new instalment, we see an older Bridget with more mature concerns.
The woman we meet in the long opening pre-credit sequence of Mad About The Boy is frazzled, manic and, as we’ve seen Bridget before, given to long bouts on the sofa communing with a bottle of white wine. However, this time she’s not down because love eludes her but because she had a wonderful love and lost it. Our once bubbly singleton has been reconfigured as a subdued widow with two young kids.
Mad About the Boy starts several years after the death of Bridget’s husband Mark Darcy (Colin Firth). While echoes of melancholy endure throughout, once in its stride the film does reestablish the reassuringly comical coordinates of the Jones-verse. At its best, it offers the brilliant one-liners and set pieces to be expected from its star writing team – including Dan Mazer (Ali G, Borat) and Abi Morgan (Shame, The Iron Lady) as well as Fielding herself – served up with a good dose of Bridget Jones’s signature slapstick.
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Embracing the usual trappings of popular feminism, Mad About the Boy champions body positivity and romantic optimism for middle-aged women. It is the latest in a growing genre of story that affords older female characters active sexual identities, including by pairing them up with younger partners. Think of the Sex and the City reboot And Just Like That, the Nicole Kidman corporate kink romance Babygirl or the romcom Good Luck Leo Grande (starring Emma Thompson, who plays a wry gynaecologist in Mad About the Boy).
The most interesting consideration in updating the Jones franchise for the 21st century comes from its interrogation of internet dating practices: a classic source of humour in stories about Generation X rejoining the dating game. This is most memorably mined in the novel and series Fleishman is in Trouble. Watching the trailer you might expect Mad about the Boy to centralise Tinder. But this proves a bluff.
Bridget Jones: Mad About The Boy trailer.
The app leads to the relationship between Bridget and the film’s eponymous “boy”, Roxster, which is initiated in emphatically physical terms when he rescues her from a tree. This scene was full of nods to the famous shot of her backside sliding down a fireman’s pole in the original film. While the connection is consolidated over a dating app, this relationship quickly regains IRL contours as they engage in passionate sex.
In a self-aware gesture towards the franchise’s debt to Jane Austen’s Pride and Prejudice, Bridget brings up the findings of sociological research on dating apps while talking to her friends about why she’s not met anyone IRL yet. Apps, such as Tinder, provide the illusion of a dating life without ever having to engage in the messy business of actually meeting someone, let alone having sex Bridget argues. She backs this up with the research that suggest this removal of intimacy during the courting stage is not dissimilar to the marriage mart in Austen’s Regency England where young, eligible women were essentially “on display” for men.
At the end of the day, Roxster ghosts Bridget and she is left anxiously checking her phone, drinking alone again and obsessing. This, however, is the old Bridget Jones. Even though the boy does eventually come back, Bridget ends up taking the advice from one of her perennially supportive friends to “let him disintegrate into nothingness”. Symbolically rejecting the flakiness that comes with digitising human relationships, Bridget mirrors society’s increasing disenchantment with dating apps.
The idea of spending time on concrete and lasting relationships underpins Daniel Cleaver’s (Hugh Grant) narrative arc too. With no “kin” he can draw on to put down as an emergency contact, his close friendship with Bridget ends up counting all the more.
At the heart of this film is a strong validation of real connection, understood in terms of corporeality, dependability and also emotional intelligence that cannot be reproduced by dating apps and their algorithms. Likewise, it considers the broader climate of romantic and social crisis in today’s culture, as birth rates plummet and more people live alone and suffer from loneliness. Friendship and family, whether blood or chosen, are just as important here as romance.
Zellweger is effervescent and Hugh Grant gives a show-stealing performance as devilish Lothario-with-a-heart Cleaver. It’s great to see old Bridge back and not so mad after all.
Mary Harrod does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Source: The Conversation – UK – By Andrew Russell, Lecturer, Faculty of Creative & Cultural Industries, University of Portsmouth
Did you hear? There’s been another murder at a White Lotus hotel, this time the one in Thailand.
Back for its third season, Mike White’s critically acclaimed and Emmy award-winning tragi-comedy series follows the terrible exploits of the White Lotus’s rich, primarily white holidaymakers, alongside the local employees.
There is social satire, a lot of drama and always a death in paradise. In the first season there was death in Hawaii; the second in Sicily, Italy, and now, in the third, there’s death in Koh Samui.
As someone who has researched on screen representations of Thailand I was intrigued to see how the show handled this locale. Disappointingly, the exoticness and beauty of Thailand is foregrounded, as is the mysticism of Buddhism.
The series follows four groups of people, the majority of whom the audience are made to feel repulsed by in some way.
The first is the Ratliff family. There’s father, Timothy (Jason Isaacs) who works in finance and mother, Victoria (Parker Posey), whose anxiety means she is heavily medicated and constantly falling asleep. Then the kids: daughter, Piper (Sarah Catherine Hook) who is studying Buddhism; son Lochlan (Sam Nivola) who has poor posture from being glued to his computer; and Saxon (Patrick Schwarzenegger), the eldest of the three, whose primary focus is having sex.
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The second group is three middle-aged women who are on a “girls’ holiday” who abandon their inhibitions as the series progresses. They are routinely referred to as cougars by Saxon. Then there is odd couple Chelsea (Aimee Lou Wood) and her older partner Rick (Walton Goggins), who seem to be going through a rocky patch.
The one likeable person, Belinda (Natasha Rothwell), is a character previously seen working in the spa in the first season’s Hawaiian resort. She’s in Thailand on a research trip for her own wellbeing business.
Terrible people
As with previous series, the ignorance of the holidaymakers is clear. Thailand is referred to as Taiwan. Piper is told by her mother that she can’t possibly be a Buddhist because she isn’t Chinese. The stereotype of the older, rich, bald white male – referred to here as LBHs (losers back home) – who retires to Thailand with a much younger wife is hammered home in various episodes.
Through these guests’ continued cultural ignorance and insensitivity, the few Thai characters we are introduced to are subservient and constantly smiling, always there to please. There’s never a sense of disgust at the exploits of the rich white customers. They are voiceless and for the most part, absent.
Belinda, the only black character, is also the only one who converses in any meaningful way with a Thai person. The only sort of story that gives any space to Thai characters is about a blossoming love between the security guard Gaitok (Tayme Thapthimthong) and health expert Mook (Lalisa Manoban), but this is sidelined.
There is a clear cultural, economic and racial split presented, one that fails to allow any Thai character the ability to air their criticisms of the guests or to be developed in a meaningful way. In the main, the focus is on whiteness – a criticism previous series have also garnered.
An imaginary Thailand
All these facets together create a version of Thailand that is seen through the lens of orientalism. This is a western way of looking at non-western places as full of mysticism, eroticism and exoticness, where nothing normal occurs.
This lens is foregrounded by characters constantly saying things like: “Thailand is full of people either looking for something or hiding from something”, and “Whatever happens in Thailand, stays in Thailand”.
There is a constant flow of alcohol, and drugs can be procured away from the resort. Incest is even hinted at in the first few episodes as the audience are shown Lochlan gazing upon the naked body of his brother. The country is portrayed as a playground for white debauchery, where anything goes – much like in The Hangover part II (2011), a trope I have written about in my research.
The link to orientalism is further enhanced by the way in which Thai religion is shown as being mystical. Anytime a character engages in a spiritual practice it is accompanied by a tinkling score indicating something otherworldly is occurring. This isn’t limited to Western characters. When Gaitok, makes an offering at a shrine the visuals are presented in slow motion as candlelight flickers with a mythical aura pervading.
The previous seasons have seen a boom in travel to filming locations in Sicily and Hawaii, driven by their onscreen depictions), and this season’s Thailand setting will likely lead to the same.
The landscape is a constant focal point, exemplifying the British sociologist John Urry’s theory of the “tourist gaze”. Exotic portions of the landscape are lingered upon, from the jungle and palm trees to ocean vistas. Monkeys are continuously seen, alongside other “exotic” creatures.
This is a recurring trait seen in Hollywood films set in Thailand, from Anna and the King of Siam (1946) to The Impossible (2012), situating it purely as an exotic locale.
This series uses iconic tourist locations, such as the Buddhist temple Wat Pho which forms the background for a conversation in one scene. Also, what appears to be the Phi Phi Islands, known for their pristine beaches and clear waters, drift past during a luxury yacht trip. Sadly, Thailand in this series is reduced to a digestible set of iconic images for the audience.
White Lotus engages in a double game. The series is clearly critical of the characters, presenting lifestyle and holidays as desirable and aspirational, all the while reinforcing antiquated orientalist stereotypes itself. You would hope a show trying to show the evils of a certain kind of tourism wouldn’t also be guilty of the thing it’s attempting to lampoon.
Andrew Russell does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Source: United Kingdom – Executive Government & Departments
A County Durham man has been jailed for operating an illegal waste site in a prosecution brought by the Environment Agency.
Image shows waste on the site in Rowlands Gill.
Christopher Williams, 66, of Acton Dene in Stanley, appeared at Newton Aycliffe magistrates’ court on Thursday 13 February for sentencing.
He had previously pleaded guilty to two charges of operating a waste site without an environmental permit at Whinfield Industrial Estate in Rowlands Gill, Gateshead.
He was sentenced to 44 weeks in prison, comprising 26 weeks and a further 18 weeks because the conviction placed him in breach of a suspended sentence imposed for previous environmental offences.
Waste posed ‘obvious’ fire risk
Gary Wallace, area environment manager for the Environment Agency in the North East, said:
Not only was the waste on site illegal, but there was a very obvious fire-risk. Williams was given ample opportunity to clear the waste and was advised how he could operate within the law.
But instead he continued to breach the law with no consideration for the environment or community.
Environmental permits are in place to protect the public and environment, and I hope this sentence sends out the message to others that we will take action against those involved in illegal waste activity.
Image shows mixed waste stored inside one of the sheds at the site in Rowlands Gill.
The court heard that Williams runs an organisation called the LCA Community Charity, which is not a registered charity, from an industrial unit at the site. It advertises as offering help with clothing, furniture and household donations.
The organisation and the defendant both hold waste carrier licences, which is a legal requirement to be able to transport waste.
EA officers saw large amount of waste at site
On 17 November 2022, Environment Agency officers attended the unit. Outside, they saw a large amount of household waste, including more than 50 fridges and fridge freezers, dismantled furniture, mattresses, sink units and toilet bowls, baths and doors, amongst other general waste.
Most of the waste was mixed together, with some looking like it had been there for a long time. Inside the unit was an office area with some household items for sale.
Inside one of the two sheds on site, waste was piled 12 feet high. Across the site, the illegally stored waste posed a fire-risk, with no separation between piles, meaning if a fire broke out it would spread quickly.
Officers spoke to Williams, and he was requested to remove the waste by 16 January 2023, and in a follow-up letter, he was advised about waste exemptions, which allows for low level waste activity without the need for a permit that could allow him to sort recyclable waste for recovery and operate within the law.
On 17 January, officers returned, only to find there was more waste present, with a noticeable increase in broken wooden furniture. Officers expressed concerns about the fire risk.
In the following months, through March and into the summer, Environment Agency officers made numerous visits where they saw waste still on site. At one point, Williams said half of the fridges had ‘gone to Africa.’
Fridges contain refrigerant gasses and blown foam insulation, with old fridges classed as hazardous waste, and should be disposed of at an suitably-licensed facility.
He also told officers he had no waste transfer notes, which are a legal requirement to trace the movement of waste between one place and another.
Officers explained to Williams that the deadline for clearing the site passed in January 2023.
During a visit in September 2024, officers inspected the site and found it was still operating as an illegal waste facility. Williams claimed to still be busy clearing the site.
Illegal waste activity can be reported to the Environment Agency on 0800 807060.
Between 16 November 2022 and 12 July 2023 at unit 13, Whinfield Industrial Estate, Rowlands Gill, Williams operated a regulated facility, namely a waste operation for the storage and treatment of waste pending recovery or disposal, otherwise than in accordance with an environmental permit
Contrary to regulations 12(1)(a) and 38(1) Environmental Permitting (England & Wales) Regulations 2016.
On 24 September 2024 at unit 13, Whinfield Industrial Estate, Rowlands Gill, you operated a regulated facility, namely a waste operation for the storage and treatment of waste pending recovery or disposal, otherwise than in accordance with an environmental permit.
Contrary to regulations 12(1)(a) and 38(1) Environmental Permitting (England & Wales) Regulations 2016.
Source: United Kingdom – Executive Government & Departments
The case of Concept Scaffolding Services Ltd, recently heard by the Traffic Commissioner for the East of England and Senior Traffic Commissioner, Richard Turfitt, has highlighted issues from which other licence holders might learn.
The company holds a restricted goods vehicle operator’s licence authorising two vehicles. Both directors, Andrew Erskine and Karl Takkou were present at the hearing.
On 4 September 2024, a Traffic Examiner stopped a vehicle driven by Karl Takkou and discovered multiple infractions. Mr. Takkou failed to insert his digital tachograph driver card, admitting he had left it in another vehicle despite knowing the requirement to use it. The vehicle also lacked an operator licence disc, and the vehicle unit had not been downloaded for over seven years. No driver card had been inserted into the vehicle’s unit for 28 days.
A subsequent visit by another Traffic Examiner on 4 October 2024 was marked as unsatisfactory, identifying deficiencies in compliance systems. The investigation found prolonged failures to download vehicle unit and driver card data, as well as instances of driving without tachograph use.
Simply put, directors had not adequately equipped themselves with the necessary knowledge to manage transport operations effectively. While they had engaged a transport consultant, serious concerns remained.
In deciding to only curtail the licence by one vehicle for one month, Mr Turfitt took account of the corrective measures employed after the stop: introducing a driver defect reporting system, acquiring a company card for vehicle downloads, and adopting a structured compliance monitoring approach. Mr. Takkou had attended a Transport Manager Refresher Course, and the directors committed to ongoing compliance training. Additionally, driver Karl Takkou’s vocational entitlement was suspended for the same period.
Commissioner Turfitt commented: “The Directors were so ill-equipped that there was little prospect of them meeting the licence obligations and yet it is difficult to understand why any business, which all carry obligations under health and safety legislation, had failed to identify the risks and to at least employ basic measures or seek advice. The fitness of this operator has been severely tarnished by their failures…Applicants should read the published guidance and work out what is required before even attempting to complete the application form. Scaffolders and similar operators applying for restricted operator licences need to start giving the same attention to these basic requirements as they would the tax or health & safety regimes.”
Undertakings were accepted to ensure future compliance, including appointing an independent compliance auditor and ongoing oversight from a transport consultant. The operator must submit an audit report to the Office of the Traffic Commissioner within six months.
While improvements have been noted, the Commissioner emphasised that compliance with licensing regulations is fundamental, and future breaches will result in harsher consequences.
B.C.’s lowest-paid workers will see a 2.6% wage increase on June 1, 2025, keeping pace with inflation.
The general minimum wage increases from $17.40 to $17.85 per hour. This follows the changes made in spring 2024 to the Employment Standards Act, which mandated annual wage increases.
“Minimum wage earners are vulnerable to jumps in the price of groceries, rent and gas,” said Jennifer Whiteside, Minister of Labour. “That’s why we took action last year to ensure the minimum wage keeps up with the cost of living so workers don’t fall further behind.”
Minimum wage rates for residential caretakers, live-in home-support workers, camp leaders and app-based ride-hailing and delivery services workers will receive the same 2.6% increase on June 1. On Dec. 31, 2025, the minimum piece rates for 15 hand-harvested crops will also increase by the same percentage.
“Making minimum wage, I know how important this increase is for workers,” said Olivia Brand, who works at the Burquitlam Liquor Store in Coquitlam. “It’s vital for government to continue to raise the minimum wage in line with inflation because it helps workers like me cover everyday expenses more easily and it shows us our hard work is valued.”
The minimum wage rates increase on June 1 of each year, except for the minimum agricultural piece rates that increase on Dec. 31 of each year to ensure crop producers will not have to adjust wages in the middle of the harvesting season.
The changes align with government priorities to help lift more people out of poverty, make life more affordable, and build a strong and fair economy for B.C.
Quotes:
Philip Aguirre, owner of Old Surrey Restaurant, and executive director of the Newton Business Improvement Association –
“Supporting workers is crucial for the success of my business. When my employees are paid a fair minimum wage, they feel appreciated and that translates into a more positive work environment. It also leads to higher efficiency and lower turnover, two things every business owner strives for.”
Fred Soofi, former employer, Pasta Polo, Coquitlam –
“As a small-business owner for the past 40 years, whenever the government increases the minimum wage, I have always been supportive. I firmly believe it benefits businesses by increasing the productivity and morale of employees. I appreciate our government in B.C. implementing annual minimum wage increases, which are going to help workers and families with the high cost of living we are facing at the present time.”
Learn More:
For more information about B.C.’s minimum wage, visit: https://www2.gov.bc.ca/gov/content/employment-business/employment-standards-advice/employment-standards/wages/minimum-wage
For more information about TogetherBC, B.C.’s poverty-reduction strategy, visit: https://www2.gov.bc.ca/assets/gov/british-columbians-our-governments/initiatives-plans-strategies/poverty-reduction-strategy/togetherbc.pdf
For more information about B.C. legislation, visit: https://strongerbc.gov.bc.ca/Legislation
Source: The Conversation – Africa – By Timothy Njagi Njeru, Research Fellow, Tegemeo Institute, Egerton University
Famine Early Warning Systems Network (Fews Net), a web-based platform for predicting famine, went offline on 30 January 2025. The system had provided up-to-date data to predict and track food insecurity in nearly 30 countries in Africa, central America and Asia for 40 years. It was funded by the US Agency for International Development (USAid). It went offline following USAid’s shutdown by the new US administration.
In Kenya, Fews Net worked with the National Drought Management Agency and the Kenya Food Security Steering Group to develop regular outlook reports at national and county levels. Timothy Njagi Njeru, an agricultural economist who researches food security and emergency responses, explains what Fews Net’s abrupt departure portends for Kenya.
What are the highlights of the network’s work in Kenya?
The famine early warning network provided data and interpretation to shape decisions on food insecurity in Kenya. The Kenyan pages on the web platform – which has gone dark – included:
an outlook for crop production based on climate data and extreme weather events
a standardised measure of food insecurity that helped governments prioritise their responses
a forecast of potential food crises using climate, economic and conflict data.
Fews Net was launched in response to devastating famines in east and west Africa in the mid-1980s. Its main objective was to gather and analyse data to help governments avert food security crises.
This evolved to support other critical areas that affected food security. For example, in the beginning, the network used weather information to generate forecasts on food crises. In time, it also collected price data and trade data, especially on staple commodities, to inform market stabilisation policies. And it tracked climate adaptation strategies.
Its work helped highlight the regions vulnerable to food insecurity, assessed the support these communities got and tracked the effects of weather variability.
In Kenya, the network worked with the Kenya Food Security Steering Group, which is made up of government, multilateral and non-profit agencies. The National Drought Management Authority, Kenya Meteorological Department and Kenya National Bureau of Statistics are in the group. So are the ministries of agriculture, health, water and education, and county governments. Development partners such as the Food and Agriculture Organization (FAO) and Unicef, and civil society organisations, such as the World Food Program and World Vision, are also members.
Their work was published in regular Food and Nutrition Security Assessments.
Fews Net also provided country and county-level briefs. These provided updates on the scale of food insecurity and assistance provided to these regions. They contained forecasts of crop and livestock production. They provided analyses of food trade, price trends, conflict incidences, and performance of assistance programmes. The forecasts helped generate recommendations for specific regions.
All this data was critical for market intelligence and developing value chains. It helped stakeholders make decisions about services, infrastructure support and demand or supply.
What difference has it made?
The Famine Early Warning Systems Network made a huge contribution to Kenya and the region as a whole. The seasonal food security forecasts enabled governments and development partners to respond to crises adequately and in a coordinated manner.
The network’s analytics on price trends and food trade proved very useful in overcoming obstacles to food trade. These included information asymmetry on demand and supply trends. The analytics also highlighted where infrastructural or security challenges might affect the flow of food from surplus to deficit areas. This equipped the government and stakeholders with the information to respond appropriately.
The analytics on household data provided information on household income, food availability and mechanisms to cope with food shocks. This informs government and others about local communities’ capacity to respond to shocks.
The tracking of local market price data informed policy responses, such as livestock offtake programmes at the height of drought or famines. Offtake programmes provide a ready market for families grappling with drought. They enable them to sell their cattle before incurring losses caused by livestock deaths during drought seasons. These programmes help communities enhance their market participation and reduce losses as they are able to sell their livestock at fair prices.
What gaps will its absence create?
The absence of the early warning network will affect Kenya’s ability to address food insecurity. It leaves a gap in financial and technical capacity to generate timely forecasts to inform decision making.
It will take time for other institutions to replace that contribution. In the short run, stakeholders can use the information that’s already been generated. In the medium term, there may be uncertainty and incoherence in interventions and investments.
Because Kenya’s weather has been so variable, the country needs seasonal forecasts at both national and county levels.
What should Kenya do to fill the gap?
Kenya can strengthen the capacity in institutions such as the drought management authority and statistics bureau.
In the long term, the country must increase financial investments that support food security. And it must build technical capacity to produce credible, reliable and timely food security forecasts.
– Kenya relies on USaid famine warning system – what happens now that it’s gone? – https://theconversation.com/kenya-relies-on-usaid-famine-warning-system-what-happens-now-that-its-gone-249614
Governor Kathy Hochul today announced two free snowmobile weekends for all out-of-state and Canadian snowmobilers to rev their engines and explore what New York has to offer. New York State will waive registration fees for out-of-state snowmobilers February 28-March 2 and March 7-9, 2025, encouraging out-of-state visitors to come ride the more than 10,000 miles of snowmobile trails in New York State.
“New York is home to more than 10,000 miles of snowmobile trails, making it the perfect place to explore everything from snow peaked mountains and endless forests to pristine valleys and the Great Lakes,” Governor Hochul said. “I encourage everyone to take advantage of the beauty our state has to offer, and we’re making it easier with free snowmobiling weekends for adventurers to see it for themselves.”
During the weekends, the registration requirement in New York is waived for already properly registered and insured out-of-state snowmobiling enthusiasts. Participants in these free snowmobiling events must operate a snowmobile that is registered in their home state/province and must carry any applicable insurance as required. Outside of this promotion, out-of-state and Canadian snowmobilers are required to register their snowmobiles with New York State before hitting the State’s trails — from the Hudson Valley to the North Country to Western New York.
These free snowmobiling weekends, February 28-March 2 and March 7-9, 2025, help boost tourism for State and local economies, and reinforce New York’s commitment to the industry. New York State has made an ongoing commitment to snowmobile trail maintenance and our local grants program is funded by snowmobile registration fees collected by the State Department of Motor Vehicles and deposited into the Snowmobile Trail Development and Maintenance Fund. County and municipal governments distribute the grants to about 230 snowmobile clubs across the State, which in turn groom and maintain the trails.
New York State Office of Parks, Recreation and Historic Preservation Commissioner Pro Tempore Randy Simons said, “New York State is fortunate to have many snowmobile clubs, counties, and municipalities who do great work to groom and maintain our trail network, ensuring a smooth ride and a safe, enjoyable journey for all. Our trails offer a thrilling escape into winter wonderlands—winding through pristine forests, across snowy fields, and offering breathtaking views at every turn. It’s not just a ride, it’s an adventure leaving visitors eager to return again and again and explore more of what the Empire State has to offer.”
Empire State Development President CEO and Commissioner Hope Knight said, “New York’s free snowmobiling weekends are the perfect time for visitors to explore the state’s picturesque winter landscape and its vast network of snowmobile trails. Tourism is crucial to our regional economies, and opportunities like this help to welcome guests who stay, dine and shop in our vibrant communities, supporting local jobs and small businesses.”
New York State Department of Motor Vehicles Commissioner Mark J.F. Schroeder said, “Our state is enjoying an exceptional snowmobiling season, and these free weekends are the perfect opportunity for non-New Yorkers to experience all that we have to offer. Remember that visitors who snowmobile here outside of designated free weekends must obtain a temporary snowmobile registration, while New Yorkers must renew their snowmobile registrations annually online. The registration fees go toward maintaining our beautiful trail network, which all snowmobilers must enjoy safely and responsibly. That means always wearing a helmet and never riding while impaired.”
New York State Department of Environmental Conservation Interim Commissioner Sean Mahar said, “New York’s network of snowmobile trails provides extraordinary winter recreation for residents and visitors alike. I encourage the public to take advantage of these free weekends to enjoy some of the thousands of miles of trails the state has to offer and to ride safely and responsibly to protect themselves and others.”
New York State Snowmobile Association President Rosanne Warner said, “The New York State Snowmobile Association and all of its member clubs would like to thank the Governor for promoting snowmobiling as an important part of the winter tourism economy. In-state snowmobilers as well as out-of-state visitors enjoy riding our trail system and are always pleased with the diversity of riding opportunities New York State has to offer. Snowmobilers are very important contributors to our local winter economy and we appreciate the support and recognition of Governor Hochul.”
New York State reminds riders to observe trail conditions and safety procedures while snowmobiling. Trail conditions vary depending on snowfall amounts and other factors. Snowmobilers, fishermen, skiers and snowshoers should put safety first and to proceed with extreme caution before venturing on ice- or snow-covered bodies of water. Historically, the two leading causes of snowmobile injuries in New York State are excessive speed and operator intoxication.
Top safety recommendations include:
INSPECT and properly maintain your snowmobile; carry emergency supplies
ALWAYS wear a helmet with DOT-certified standards and make sure you wear appropriate snowmobile gear including bibs, jackets, boots, and gloves to withstand the elements
ALWAYS ride with a buddy or group and tell a responsible person where you will be riding and your expected return time
SLOW DOWN. Ride within your ability
STAY ON MARKED TRAILS. Respect landowners and obey posted signs
NEVER drink alcohol or use drugs and ride
FROZEN BODIES OF WATER are not designated trails; if you plan to ride on ice, proceed with caution and be aware of potential hazards under the snow. If you choose to ride on ice, wear a snowmobile suit with flotation built-in and carry a set of ice picks as a precaution.
Check the websites of area snowmobile clubs for information on trail conditions, including the status of grooming. Individuals operating a snowmobile should be familiar with safe riding practices and all applicable laws, rules and regulations. The New York State Snowmobile Association website provides information about snowmobiling and snowmobile clubs. Maps of the State snowmobile trail network are available on New York State Parks’ website.
More information on planning a great snowmobile getaway and other ways to enjoy winter in New York State is available at iloveny.com/winter.
The DMV reminds New York riders that snowmobile registrations must be renewed annually. DMV allows snowmobilers to renew registrations online on the DMV website, by mail or in person at a DMV office. Snowmobile registration costs $100 but is decreased to $45 if the snowmobiler is a member of a local snowmobile club.
Non-New Yorkers who wish to use a snowmobile in New York State before or after this promotional weekend can use the NYS Registration for Out-of-State Snowmobile service to get a 15-day registration and operate their snowmobile here immediately. DMV will send a permanent registration in the mail.
The free snowmobile weekend complements Governor Hochul’s efforts to encourage outdoor recreation. The FY26 Executive Budget proposes $200 million for State Parks to invest in and aid the ongoing transformation of New York’s flagship parks and support critical infrastructure projects throughout the park system. The Governor’s new Unplug and Play initiative also earmarks $100 million for construction and renovation of community centers through the Build Recreational Infrastructure for Communities, Kids and Seniors (NY BRICKS), $67.5 million for the Places for Learning, Activity and Youth Socialization (NY PLAYS) initiative helping New York communities construct new playgrounds and renovate existing playgrounds; and an additional $50 million for the Statewide Investment in More Swimming (NY SWIMS) initiative supporting municipalities in the renovation and construction of swimming facilities.
For information on snowmobiling, visit parks.ny.gov. Visit the DEC website for more information on snowmobiling on State lands.
“If a judge tried to tell a general how to conduct a military operation, that would be illegal. If a judge tried to command the attorney general in how to use her discretion as a prosecutor, that’s also illegal. Judges aren’t allowed to control the executive’s legitimate power.” Vice President Vance, February 9, 2025
OAKLAND – California Attorney General Rob Bonta today released the following joint statement, signed by 17 state attorneys general, regarding Vice President Vance’s comments on judicial review made on February 9, 2025.
“The Vice President’s statement is as wrong as it is reckless. As chief law enforcement officers representing the people of 17 states, we unequivocally reject the Vice President’s attempt to spread this dangerous lie.
“Judges do not ‘control’ executive power. Judges stop the unlawful and unconstitutional exercise of power. As Chief Justice Marshall said in Marbury v. Madison over 200 years ago, ours is ‘a government of laws, and not of men,’ and that ‘it is emphatically the province and duty of the judicial department to say what the law is.’ For those who value the original intent of the founders and our legal traditions, nothing is more firmly rooted in our legal history, tradition, and the original intent of the founders than the power of judges to stop the executive from breaking the law.
“Americans understand the principle of checks and balances. The judiciary is a check on unlawful action by the executive and legislative branches of government. Generals, prosecutors, and all public officials are subject to checks and balances. No one is above the law.
“As Attorneys General, we will carefully scrutinize each and every action taken by this administration. If the Constitution or federal law is violated, we will not hesitate to act.
“That is why we have already filed motions in courts across this country to seek temporary restraining orders and injunctions blocking the unlawful and unconstitutional executive orders and actions, including those to ban birthright citizenship; indiscriminately freeze federal funding; cap vital medical research dollars; and grant unauthorized disclosure of Americans’ private records and data.
“Judges granted our motions and issued restraining orders to protect the American people, democracy, and the rule of law. That is and has always been their job. That job is the very core of our legal system. And in this critical moment, we will stand our ground to defend it.”
Attorney General Bonta joins the attorneys general of Connecticut, Arizona, Delaware, Hawaii, Illinois, Maryland, Massachusetts, Maine, Minnesota, Nevada, New Jersey, New Mexico, Oregon, Rhode Island, Vermont and Washington in signing the statement.
Source: United Nations General Assembly and Security Council
The following Security Council press statement was issued today by Council President Fu Cong (China):
The members of the Security Council strongly condemned the tragic death of World Food Programme (WFP) member of staff, Ahmed, on 10 February in Houthi captivity and expressed their deepest condolences to the family and the United Nations. Council Members strongly condemned the ongoing detentions by the Houthis of personnel from the United Nations, national and international non-governmental organizations (NGOs), civil society organizations and diplomatic missions. Council members demanded the immediate and unconditional release of all those detained by the Houthis and reiterated that all threats to those delivering humanitarian aid and assistance are unacceptable.
Council members expressed their grave concern at the significant and rapid deterioration of the humanitarian situation in Yemen and stressed that unimpeded access by humanitarian personnel and United Nations and associated personnel is essential. Council members expressed deep concern at the risk to delivery of essential humanitarian assistance and reiterated their demand that the Houthis ensure respect of international humanitarian law with regard to the safe, rapid and unimpeded humanitarian access to ensure assistance can reach civilians in need.
Council members emphasized that the humanitarian situation will continue to deteriorate in the absence of a political solution. They reaffirmed their strong commitment to the unity, sovereignty, independence and territorial integrity of Yemen, and its commitment to stand by the people of Yemen. They reiterated their support for United Nations Special Envoy Hans Grundberg in his efforts towards a negotiated, inclusive, Yemeni-led and Yemeni-owned political settlement based on the agreed references and consistent with relevant Security Council resolutions.
The Provincial Capital Commission invites visitors to Government House this Family Day for free, fun-filled activities and to learn more about the historic facility.
“Family Day at Government House is the perfect opportunity to reconnect with family and friends,” Minister Responsible for the Provincial Capital Commission Eric Schmalz said. “Government House is a welcoming, family-friendly place in the heart of Saskatchewan’s capital city that provides unique opportunities to learn more about our great province and have some fun while doing so.”
The event runs from 10 a.m. until noon, and then from 1 to 3 p.m. Join Government House staff and volunteers for activities for all, including:
NEW THIS YEAR – All-ages acting workshops led by the Globe Theatre School.
Puppet shows by Wide Open Children’s Theatre return for the fifth year.
Our Once Upon a Time playroom will be available for children six years old and under.
A variety of board games set up for all to enjoy.
Visitors are also encouraged to explore the Amédée Forget Museum and check out the newest exhibit in the Queen Elizabeth II Art Gallery. There is always something to see and do at Government House.
For more information, visit: https://governmenthousesk.ca/events/family-day
About Government House
Government House is a National Historic Site and Provincial Heritage Property with a mission to provide visitors with an accessible historic place to preserve, promote and celebrate Saskatchewan’s living heritage. Government House is the steward of a vibrant collection and historic property that is living and ever-changing. Experience the story of Government House through educational experiences, engaging programs, and collaborative partnerships.
Source: United States Senator for Illinois Dick Durbin
February 13, 2025
Illinois receives $1.23 billion in NIH funding that supports more than 14,200 jobs and $3.46 billion in economic activity
WASHINGTON – U.S. Senate Democratic Whip Dick Durbin (D-IL) and U.S. Senator Tammy Duckworth (D-IL) today joined U.S. Senator Patty Murray (D-WA), as well as the entire Senate Democratic Caucus, in sending a letter to U.S. Department of Health and Human Services Secretary Robert F. Kennedy, Jr. expressing serious alarm over the Trump Administration’s recent decisions that threaten to undermine America’s biomedical research infrastructure and setting progress back generations. The steps the Trump Administration has taken would create a serious funding shortfall for research institutions nationwide, threaten to undermine progress on lifesaving scientific advancements, and could cost the U.S. economy billions of dollars while threatening the livelihoods of hundreds of thousands of workers.
“As the largest public funder of biomedical research in the world, NIH plays a critical role in sustaining the research infrastructure necessary for scientific breakthroughs in cancer treatment, infectious disease prevention, and medical technology innovation, among many others. President Trump has wreaked havoc on the nation’s biomedical research system in recent weeks. In his first several days in office, President Trump imposed a hiring freeze, communications freeze, ban on travel, and cancellation of grant review and advisory panels that are necessary to advance research. While some of these efforts have been reversed, they continue to cause confusion and miscommunication among researchers and recipients of NIH funds,” the lawmakers wrote.
Last week, NIH announced it would set the maximum reimbursement rate for indirect costs to 15 percent—creating a serious funding shortfall for research institutions of all types across the country. This move would dismantle the biomedical research system and stifle the development of new cures for disease. It won’t produce cost savings—it will just shift costs to states who can’t afford to pay the difference. Importantly, this action by the Trump Administration is illegal—Congress’ bipartisan Labor-HHS-Education Appropriations Bill prohibits modifications to NIH’s indirect costs.
“This change to NIH’s indirect cost rate represents an indiscriminate funding cut that will be nothing short of catastrophic for the lifesaving research that patients and families are counting on. The Administration’s new policy means that research will come to a halt, sick kids may not get the treatment they need, and clinical trials may shut down abruptly,” the Senators wrote. On Monday, a federal judge in Boston temporarily blocked the NIH rate cut and set a hearing for February 21.
The Senators’ letter points out that, in addition to the stifling impact on discovering new cures and ripping away treatment from those who need it, changes to NIH policy and communications threaten jobs in all 50 states and the District of Columbia. NIH research supported more than 412,000 jobs and fueled nearly $93 billion in new economic activity in Fiscal Year 2023 and every dollar the NIH invests in research generates almost $2.50 in economic activity.
“The Trump Administration has left researchers, universities, and health systems with great uncertainty about whether they can continue to support entire research programs and patient clinical trials across the country. Institutions and grantees nationwide are dealing with an unprecedented external communications ‘pause’ enacted by new leadership at the U.S. Department of Health and Human Services, the lack of transparency regarding the Administration’s illegal funding freeze, and the uncertainty of how new Executive Orders would be applied to their critical work. These actions resulted in NIH freezing grant reviews and cancelling advisory meetings, delaying critical funding that scientists need to continue advancing new cures and treatments. These disruptions do not just slow research—they cost lives,” the Senators continued.
“Our standing as a world leader in funding and producing new medical and scientific innovations has been put at risk by these recent actions from the Trump Administration. We urge you to stop playing political games with the lifesaving work of the NIH and to allow NIH research to continue uninterrupted,” the lawmakers wrote.
The letter was signed by the entire Senate Democratic caucus. In addition to Durbin, Duckworth, and Murray, U.S. Senators Angela Alsobrooks (D-MD), Tammy Baldwin (D-WI), Michael Bennet (D-CO), Richard Blumenthal (D-CT), Lisa Blunt Rochester (D-DE), Cory Booker (D-NJ), Maria Cantwell (D-WA), Chris Coons (D-DE), Catherine Cortez Masto (D-NV), John Fetterman (D-PA), Ruben Gallego (D-AZ), Kirsten Gillibrand (D-NY), Maggie Hassan (D-NH), Martin Heinrich (D-NM), John Hickenlooper (D-CO), Mazie Hirono (D-HI), Tim Kaine (D-VA), Mark Kelly (D-AZ), Andy Kim (D-NJ), Angus King (I-ME), Amy Klobuchar (D-MN), Ben Ray Luján (D-NM), Ed Markey (D-MA), Jeff Merkley (D-OR), Chris Murphy (D-CT), Jon Ossoff (D-GA), Alex Padilla (D-CA), Gary Peters (D-MI), Jack Reed (D-RI), Jacky Rosen (D-NV), Bernie Sanders (I-VT), Brian Schatz (D-HI), Adam Schiff (D-CA), Chuck Schumer (D-NY), Jeanne Shaheen (D-NH), Elissa Slotkin (D-MI), Tina Smith (D-MN), Chris Van Hollen (D-MD), Mark Warner (D-VA), Raphael Warnock (D-GA), Elizabeth Warren (D-MA), Peter Welch (D-VT), Sheldon Whitehouse (D-RI), and Ron Wyden (D-OR) signed onto the letter.
Durbin has long been a strong advocate for robust medical research. His legislation, the American Cures Act, would provide annual budget increases of five percent plus inflation at America’s top four biomedical research agencies: NIH, the Centers for Disease Control and Prevention, the Department of Defense Health Program, and the Veterans Medical and Prosthetics Research Program. Thanks to Durbin’s efforts to increase medical research funding, Congress has provided NIH with a 60 percent funding increase over the past decade.
A PDF of the letter is available HERE and the full text is below:
February 13, 2025
Dear Secretary Kennedy,
We write to express our serious concern with the Trump Administration’s recent decisions that threaten to undermine the nation’s biomedical research infrastructure and set us back generations. The steps the Trump Administration has taken will create a serious funding shortfall for research institutions nationwide, threaten to undermine progress on lifesaving scientific advancements, could cost the U.S. economy billions of dollars, and threaten the livelihoods of hundreds of thousands of workers.
As the largest public funder of biomedical research in the world, NIH plays a critical role in sustaining the research infrastructure necessary for scientific breakthroughs in cancer treatment, infectious disease prevention, and medical technology innovation, among many others. President Trump has wreaked havoc on the nation’s biomedical research system in recent weeks. In his first several days in office, President Trump imposed a hiring freeze, communications freeze, ban on travel, and cancellation of grant review and advisory panels that are necessary to advance research. While some of these efforts have been reversed, they continue to cause confusion and miscommunication among researchers and recipients of NIH funds.
Just last week, NIH announced an illegal plan to cap indirect cost rates that research institutions rely on. In capping indirect cost rates at 15 percent for NIH-funded grants, this policy would cut funding essential for conducting research, such as operating and maintaining laboratories, equipment, and research facilities. This change to NIH’s indirect cost rate represents an indiscriminate funding cut that will be nothing short of catastrophic for the lifesaving research that patients and families are counting on. The Administration’s new policy means that research will come to a halt, sick kids may not get the treatment they need, and clinical trials may shut down abruptly.
These confusing and harmful policy changes threaten patient safety. The strength of the American research enterprise – recognized as the best in the world – is built on Congress’ bipartisan commitment to supporting essential research infrastructure. This funding, which Congress has long appropriated on a bipartisan basis, fuels groundbreaking medical discoveries and cements the United States’ position as the global leader in biomedical research.
In addition to the stifling impact on discovering new cures and ripping away treatment from those who need it, changes to NIH policy and communications threaten jobs in all 50 states and the District of Columbia, with everyone from custodians, to research trainees, to scientists facing potential layoffs. NIH research supported more than 412,000 jobs and fueled nearly $93 billion in new economic activity in Fiscal Year 2023. Every dollar the NIH invests in research generates almost $2.50 in economic activity. These reckless policy changes not only threaten biomedical innovation and research, but also the livelihoods of thousands of workers in every state across the nation.
The Trump Administration has left researchers, universities, and health systems with great uncertainty about whether they can continue to support entire research programs and patient clinical trials across the country. Institutions and grantees nationwide are dealing with an unprecedented external communications “pause” enacted by new leadership at the U.S. Department of Health and Human Services, the lack of transparency regarding the Administration’s illegal funding freeze, and the uncertainty of how new Executive Orders would be applied to their critical work. These actions resulted in NIH freezing grant reviews and cancelling advisory meetings, delaying critical funding that scientists need to continue advancing new cures and treatments. These disruptions do not just slow research – they cost lives.
The NIH plays a critical role in our nation’s efforts to fund scientific advancements that improve health and save lives. Our standing as a world leader in funding and producing new medical and scientific innovations has been put at risk by these recent actions from the Trump Administration. We urge you to stop playing political games with the lifesaving work of the NIH and to allow NIH research to continue uninterrupted.
Green MP, and party parliamentary spokesperson on foreign affairs, Ellie Chowns said: “US Vice President JD Vance’s use of the Munich Security Conference to lambast allies rather than focus on the real chaos makers in the world is sadly predictable but no less bizarre and dangerous for that.
“President Trump’s administration seems determined to usher in a new world where old friends are discarded and new friends made of dangerous autocrats. The UK should have no part of that and should work with others to protect international frameworks and institutions that support co-operation and the rule of law.”
Source: United Kingdom – Executive Government & Departments
The Professional Forester Apprenticeship programme offers an exciting career pathway into the forestry sector for people from all backgrounds
A new call for foresters of the future has gone out for the next cohort of the innovative Professional Forester Apprenticeship programme.
The forestry and timber sector plays a key role in ensuring our precious woods and forests are healthy and continue to flourish for generations to come, helping the country meet its net zero and environment targets, supporting economic growth, and providing multiple social benefits.
The three-year, paid development opportunity is open to school leavers, graduates or anyone looking for a change in career direction and a rewarding job in the natural environment – with no day the same.
In total, the scheme has already kickstarted 78 careers in forestry, and the reopening of the programme will offer more people the chance to be part of a new cohort of foresters. The Forestry Commission kick-started the scheme in 2022, and an increasing number of other organisations and businesses have taken the opportunity to host apprentices over the subsequent years.
This boost for forestry comes during of National Apprenticeships Week (Monday 10 February to Sunday 16 February), which celebrates the skills and value which apprenticeships create. Kickstarting economic growth by providing good employment opportunities across the country, including in rural areas, is a crucial part of the Government’s Plan for Change and apprenticeships like these are a great way to give people access to a new career.
Forestry Commission Chief Executive Richard Stanford said:
“The Professional Forester Apprenticeship programme offers people the chance to earn while they learn. Students have a mix of academic study and technical experience in the great outdoors and at the end of the programme can achieve a bachelor’s degree and chartered forester qualifications.
“The continued success of this unique programme is heartening to see – people from all kinds of backgrounds and ages have been able to kickstart a new career. I urge anyone who is interested in finding a vocation looking after our trees, woods and forests, and who wants to work in a sector with lots of opportunities, to apply today.”
Apprentice foresters from previous years have pointed to the variety of daily experiences, and the access to a wide range of expertise amongst the benefits provided by this apprenticeship programme.
Apprentices on the scheme enjoy a combination of hands-on experience with the Forestry Commission and academic studies in forestry management led by the University of Cumbria. There is also potential for wider sector placements to further develop their skills and experience and improve future employment prospects.
Current apprentice Zoltan Varju said:
“Nature has been a lifelong passion of mine and getting the opportunity to work to make sure we have healthy woodlands has been fantastic.
“I’ve also been glad to be trained while working, so that I can earn a salary while I’m learning instead of tuition fees. I’d recommend an apprenticeship for anyone looking for a career in forestry, it offers a great variety of experiences and it’s great to learn from people with years of experience in the job.
Current apprentice Julia Churchill-Angus said:
“Having spent the first part of my career developing and delivering environmental policy, I wanted to get more practical environmental management experience.
“Forestry seemed like the perfect way to do this. As a Development Woodland Officer, I’m also completing a degree and that’s been a great compliment to my job with lots of academic and practical training as well.”
Upon completion of the programme, successful graduates will earn a Professional Forester Apprenticeship (equivalent to Level 6), a BSc (Hons) Professional Forester and will be able to apply for Chartered Forester status with the Institute of Chartered Foresters.
Premier David Eby has issued the following statement in honour of the annual Women’s Memorial March:
“Today, hundreds of people will come together on Vancouver’s Downtown Eastside to honour and advocate for missing and murdered Indigenous women, girls, Two Spirit and trans people. They will walk through the streets, pausing where the missing and murdered were last seen or found. They will remember, mourn and call for an end to racism, inequity and gender-based violence.
“Our government stands with survivors, supporters and the loved ones left behind – and we are answering their call.
“We are taking action to end the crisis of missing and murdered Indigenous women, girls, Two Spirit and trans people by working in partnership with Indigenous people to increase safety and supports for survivors, uplift Indigenous-led approaches and break the cycle of violence through prevention, healing and accountability.
“It is fitting that the Women’s Memorial March is on Valentine’s Day. Everyone we have lost was deeply loved by their family, friends and community. In memory of all missing and murdered Indigenous women, girls, Two Spirit and trans people, we recommit to ending racism and gender-based violence so everyone in B.C. can enjoy a lifetime of love without the risk of being harmed just because of who they are.”
Christine Boyle, Minister of Indigenous Relations and Reconciliation, said:
“On Jan. 20, 1992, Cheryl Ann Joe, a 26-year-old mother of three young boys, was murdered in Vancouver’s Downtown Eastside. The Women’s Memorial March sparked by her death has grown to become about every missing and murdered Indigenous woman, girl, Two Spirit and trans person. It is a call to action to end gender-based violence and we are committed to supporting and leading that work in every way we can.”
Jennifer Blatherwick, parliamentary secretary for gender equity, said:
“Indigenous women, girls, Two Spirit and trans people have the right to feel and be safe, and yet they are at greater risk of violence. Today, and every day, we grieve for those who are missing and those whose lives have been stolen. Through Safe and Supported: B.C.’s gender-based violence action plan, we are continuing the vital work to address gender-based violence, systemic racism and discrimination.”
Joan Phillip, MLA for Vancouver-Mount Pleasant, said:
“For 33 years, the grassroots efforts of community members have brought us together on Feb. 14 to acknowledge violence against Indigenous women, girls, Two Spirit and trans people. We walk together to honour those who have been murdered or went missing, and survivors and their families. We need to continue working together as government to address the underlying causes of gender-based violence and racism so that every Indigenous woman, girl, Two Spirit and trans person feels safe.”
CLARKSBURG, WEST VIRGINIA – A Pennsylvania resident has been sentenced for drug-related charges in the Northern District of West Virginia.
Jo-El Torres, 40, of Pittsburgh, Pennsylvania, was sentenced to 10 years in federal prison for possession with intent to distribute fentanyl.
During a traffic stop in Clarksburg, West Virginia, a K9 officer positively alerted for the presence of drugs in a vehicle occupied by Torres. Torres was directed to exit the vehicle. At that point, Torres attempted to swallow a bag and its contents. Officers were able to subdue him and retrieve the bag. Subsequent lab tests confirmed that the bag contained fentanyl and other drugs. This is the third federal drug conviction for Torres.
Torres will serve three years of supervised release following his prison sentence.
Assistant U.S. Attorney Andrew Cogar prosecuted the case on behalf of the government.
The matter was investigated by the Greater Harrison County Drug Task Force, a HIDTA funded initiative; the Harrison County Sheriff’s Office; the Clarksburg Police Department; and the West Virginia State Police.
TORTOLA, British Virgin Islands, Feb. 14, 2025 (GLOBE NEWSWIRE) — Goldmoney Inc. (TSX:XAU) (US:XAUMF) (“Goldmoney” or the “Company”) today announced financial results for the fiscal 2025 third quarter period ended December 31, 2024. All amounts are expressed in Canadian dollars unless otherwise noted.
Financial statements are available online at Sedar+ www.sedarplus.ca.
Financial Highlights
Group Tangible Capital of $138.8 million, an increase of 2.6% QoQ
Group Tangible Capital per Share of $10.40, an increase of 1.4% QoQ
Group Tangible Capital per Share excluding MENE of $9.45 per share, an increase of 1.6% QoQ
Adjusted Net Income of $3.9 million, a decrease of 11.2% QoQ
Quarterly Performance Metrics Table
Q3
Q2
Q1
Q4
Q3
Q2
Q1
Q4
KeyPerformanceMetrics(BalanceSheet)
Shares outstanding
13,348
13,182
13,060
13,137
13,449
13,777
13,926
13,996
Shareholder equity
152,487
149,026
147,984
141,178
173,761
172,602
173,224
172,123
Tangible equity inclusive of MENE
138,832
135,299
133,780
126,100
147,078
143,019
143,475
142,203
Tangible equity exclusive of MENE
126,164
122,631
113,217
105,457
113,059
108,396
108,756
107,599
Tangible equity per share ($CAD)
10.40
10.26
10.24
9.60
10.94
10.38
10.30
10.16
Tangible equity per share exclusive of MENE
9.45
9.30
8.67
8.03
8.41
7.87
7.81
7.69
KeyPerformanceMetrics(Operational)
Net income (loss)
2,891
(3,896
)
5,132
(32,095
)
6,005
2,009
1,995
(4,050
)
Total comprehensive income (loss)
2,628
792
6,077
(30,640
)
7,391
627
1,651
(4,053
)
Adjustments for revaluations, FX, stock compensation, and non-cash items
1,246
3,569
550
34,857
(1,350
)
2,310
1,903
7,020
Non-IFRS adjusted net income
3,874
4,361
6,627
4,217
6,040
2,937
3,554
2,966
KeyPerformanceMetrics(EarningsperShare)
Basic earnings (loss) per share
0.22
(0.29
)
0.39
(2.42
)
0.44
0.15
0.14
(0.27
)
Diluted earnings (loss) per share
0.22
(0.29
)
0.38
(2.42
)
0.44
0.14
0.14
(0.27
)
Non-IFRS adjusted net income per share
0.29
0.33
0.51
0.32
0.45
0.21
0.26
0.21
Financial Statement Restatement
Goldmoney also announces the restatement of previously issued financial statements for the years ended March 31, 2024 and 2023 (the “Restatement”).
Since the Company’s wholly owned subsidiary Goldmoney.com was founded, client cash and client precious metals had been treated as an off-balance sheet item and clearly disclosed as such in the Notes to the Company’s audited annual financial statements. The Restatement recognizes and presents client cash within Goldmoney.com on the Company’s consolidated balance sheet with a corresponding liability. This has been presented in prior years as a line item separate from the Company’s cash and cash equivalents. Consequently, the March 31, 2024, audited consolidated financial statements have been restated to capture this change in presentation, along with the related management’s discussion and analysis, and the 2024 Annual Information Form (collectively, the “Restatement Package”). This restated accounting presentation for client cash has also been reflected in the Company’s December 31, 2024, unaudited interim financial statements. There has been no impact to the Company’s financial statement presentation of historic equity or earnings as a result of this restatement.
The Restatement has been approved by the Board of Directors on the recommendation of the Audit Committee and management in connection with a review of its historic accounting treatment of client cash as off-balance sheet assets. Management considers these restatements to result from a material weakness in internal controls over financial reporting, and accordingly has implemented measures to address this weakness. As described in the restated annual information form and other public disclosure, Goldmoney Inc.’s wholly owned subsidiary Goldmoney.com operates an online platform which provides clients with access to purchase and sell precious metals, and to arrange for custody and storage in accordance with the terms of a standard-form client agreement available on the Goldmoney website (the “Client Agreement”). Cash balances used to settle purchases and sales are held in Company bank accounts.
Shareholders and users of Goldmoney’s financial statements should note that the Restatement is not a result of any change to its operations, business or financial operating performance for the restated periods. The Company continues to hold customer cash on behalf of its clients in accordance with and in full compliance with all of the terms of the Client Agreement.
The Restatement Documents have been filed at Sedar+ www.sedarplus.ca with the unaudited interim financial statements for the three- and nine-month period ended December 31, 2024, with restated unaudited comparative interim financial statements the three- and nine-month period ended December 31, 2023.
The effect of the restatement on the condensed consolidated interim statement of financial position and condensed consolidated interim statements of cash flows for the periods ended June 30, 2024 and September 30, 2024 are as follows:
Effect on Condensed Consolidated Interim Statements of Financial Position
As at June 30, 2024
Previously Reported ($)
Adjustment ($)
Restated ($)
Client cash
–
61,472,682
61,472,682
Total assets
193,484,934
61,472,682
254,957,616
Client liabilities
–
61,472,682
61,472,682
Total liabilities
45,500,586
61,472,682
106,973,268
Total liabilities and shareholders’ equity
193,484,934
61,472,682
254,957,616
As at September 30, 2024
Previously Reported ($)
Adjustment ($)
Restated ($)
Client cash
–
67,446,073
67,446,073
Total assets
195,538,391
67,446,073
262,984,464
Client liabilities
–
67,446,073
67,446,073
Total liabilities
46,512,066
67,446,073
113,958,139
Total liabilities and shareholders’ equity
195,538,391
67,446,073
262,984,464
Effect on Condensed Consolidated Interim Statements of Cash Flows
For the three month period ended June 30, 2024
Previously Reported ($)
Adjustment ($)
Restated ($)
Net cash provided by operating activities
7,683,278
2,859,508
10,542,786
Net cash used in investing activities
(6,963,178
)
–
(6,963,178
)
Net cash used in financing activities
(1,328,262
)
–
(1,328,262
)
Decrease in cash and cash equivalents and client cash
(608,162
)
2,859,508
2,251,346
For the three month period ended September 30, 2024
Previously Reported ($)
Adjustment ($)
Restated ($)
Net cash provided by operating activities
4,726,457
5,973,391
10,699,848
Net cash used in investing activities
(6,793,363
)
–
(6,793,363
)
Net cash used in financing activities
(1,640,059
)
–
(1,640,059
)
Decrease in cash and cash equivalents and client cash
(3,706,965
)
5,973,391
2,266,426
For the six month period ended September 30, 2024
Previously Reported ($)
Adjustment ($)
Restated ($)
Net cash provided by operating activities
12,409,735
8,832,899
21,242,634
Net cash used in investing activities
(13,756,541
)
–
(13,756,541
)
Net cash used in financing activities
(2,968,321
)
–
(2,968,321
)
Decrease in cash and cash equivalents and client cash
(4,315,127
)
8,832,899
4,517,772
About Goldmoney Inc.
Founded in 2001, Goldmoney (TSX:XAU) is a TSX listed company invested in the real economy. The leading custodians and traders of precious metals, Goldmoney Inc. also owns and operates businesses in jewelry manufacturing and property investment. For more information about Goldmoney, visit goldmoney.com.
Financial Information and IFRS Standards
The selected financial information included in this release is qualified in its entirety by, and should be read together with, the Company’s amended and restated consolidated financial statements for the fiscal year ended March 31, 2024 and prepared in accordance with IFRS Accounting Standards (“IFRS”) and the corresponding restated management’s discussion and analysis (“MD&A”), which are available under the Company’s profile on SEDAR+ at www.sedarplus.ca.
Non-IFRS Measures
This news release contains non-IFRS financial measures; the Company believes that these measures provide investors with useful supplemental information about the financial performance of its business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating its business. Although management believes these financial measures are important in evaluating the Company’s performance, they are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with IFRS. These non-IFRS financial measures do not have any standardized meaning and may not be comparable with similar measures used by other companies. For certain non-IFRS financial measures, there are no directly comparable amounts under IFRS. These non-IFRS financial measures should not be viewed as alternatives to measures of financial performance determined in accordance with IFRS. Moreover, presentation of certain of these measures is provided for year-over-year comparison purposes, and investors should be cautioned that the effect of the adjustments thereto provided herein have an actual effect on the Company’s operating results.
Tangible Capital is a non-IFRS measure. This figure excludes from total shareholder equity (i) intangibles, and (ii) goodwill, and is useful to demonstrate the tangible capital employed by the business.
Non-IFRS Adjusted Net Income is a non-IFRS measure, defined as total comprehensive income (loss) adjusted for non-cash and non-core items which include, but is not limited to, revaluation of precious metal inventories, fair value movements, stock-based compensation, depreciation and amortization, foreign exchange fluctuations and gains and losses on investments.
For a full reconciliation of non-IFRS financial measures used herein to their nearest IFRS equivalents, please see the section entitled “Reconciliation of Non-IFRS Financial Measures” in the Company’s MD&A for the year ended March 31, 2024.
Media and Investor Relations inquiries:
Sean Ty Chief Financial Officer Goldmoney Inc. +1 647 250 7098
Forward-Looking Statements
This news release contains or refers to certain forward-looking information. Forward-looking information can often be identified by forward-looking words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “may”, “potential” and “will” or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. All information other than information regarding historical fact, which addresses activities, events or developments that the Goldmoney Inc. believes, expects or anticipates will or may occur in the future, is forward-looking information. Forward-looking information does not constitute historical fact but reflects the current expectations the Company regarding future results or events based on information that is currently available. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking information will not occur. Such forward-looking information in this release speak only as of the date hereof.
Forward-looking information in this release includes, but is not limited to, statements with respect to: financial performance and growth of the Company’s business; expected results of operations, the market for the Company’s products and services and competitive conditions; the establishment of a real estate investment strategy and the success of the Company’s real estate portfolio;the expected value and return on investment in the Company’s real estate acquisitions, and the properties described herein (the “Properties”) in particular, the ability of the current tenants on the Properties to meet their rental obligations, the future state of the Properties and the environment surrounding it, the ability of the Company to maintain and service the indebtedness incurred to acquire the properties, including any future refinancings, the ability of the Company to redevelop the properties as anticipated and, in general, return value from the Properties to shareholders; and the basis for the Restatement. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: the Company’s operating history; future capital needs and uncertainty of additional financing; fluctuations in the market price of the Company’s common shares; the effect of government regulation and compliance on the Company and the industry; legal and regulatory change and uncertainty; jurisdictional factors associated with international operations; foreign restrictions on the Company’s operations; product development and rapid technological change; dependence on technical infrastructure; protection of intellectual property; use and storage of personal information and compliance with privacy laws; network security risks; risk of system failure or inadequacy; the Company’s ability to manage rapid growth; competition; the ability to identify opportunities for growth internally and through acquisitions and strategic relationships on terms which are economic or at all; the ability to identify and complete the acquisition of suitable real estate investment opportunities on terms which are economic or at all; the global inflationary environment and its effect on real estate prices, interest rates, and the Properties in particular; the ability of the Company to integrate the Properties into its current operations; the anticipated value and income growth in connection with the Properties; the ability to maintain current and procure future commercial tenants for the Properties; the surrounding environment and infrastructure of the Properties remaining suitable; the ability to redevelop the Properties on terms which are economic or at all; the anticipated variable interest rate for the loan used to finance the acquisition of the Properties, and the effect on this interest rate from the SONIA as set by the Bank of England; the ability to successfully develop and manage the Company’s real estate portfolio; the risks of concentration of the Company’s real estate portfolio in the United Kingdom; effectiveness of the Company’s risk management and internal controls; use of the Company’s services for improper or illegal purposes; uninsured and underinsured losses; theft & risk of physical harm to personnel; precious metal trading risks; and volatility of precious metals prices & public interest in precious metals investment; the potential that additional restatements of the financial statements will be required; the impact on the Company’s reputation and customer relation in respect of the Restatement; risks associated with regulatory reviews and investigations; risks that the Restatement or any future required restatement may negatively affect the Company’s financial condition or result in additional liabilities; the potential impact on investor confidence, market perception, and the Company’s reputation in respect of the Restatement; risks related to maintaining adequate liquidity and access to capital while resolving restatement matters; and those risks set out in the Company’s most recently filed annual information form, available on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, except as required by law.
Product structured to provide crypto asset exposure by tracking the Nasdaq Crypto US™ Index (NCIUS™), a benchmark for institutional investment in certain market-leading crypto assets
Hashdex and Nasdaq Global Indexes continue to be at the forefront of crypto index product innovation, offering investors and wealth managers access tothefirst multi-asset spot crypto ETP in the United States
New York, February 14, 2025 – Hashdex Asset Management Ltd. (“Hashdex”), a leading global crypto-focused asset manager, and Nasdaq Global Indexes, which has been creating innovative, transparent indexes for more than 50 years, today announced the launch of the Hashdex Nasdaq Crypto Index US ETF (the “Product” or “NCIQ”) [Ticker: NCIQ], the first multi-asset spot crypto exchange traded product (“ETP”) available to U.S. investors. The Product, which is now trading on the Nasdaq Stock Market® under ticker NCIQ, currently offers exposure to both spot bitcoin (“BTC”) and ether (“ETH”). NCIQ’s management fee is contractually set at 0.25% per annum of the daily net asset value (“NAV”) of the Product through the end of 2025, and then 0.50% thereafter.
The Hashdex Nasdaq Crypto Index US ETF provides U.S. investors with direct access to the two leading crypto assets by trading volume in the U.S., currently with a combined market capitalization of over $2.3 trillion,1 all through one tradeable product. NCIQ tracks the Nasdaq Crypto US™ Index (“NCIUS”), which was co-developed by Nasdaq Global Indexes and Hashdex to measure the performance of a material portion of the overall crypto asset market by investing in the index constituents. The NCIUS is based on strict criteria like liquidity, market capitalization, and regulatory compliance. Currently, only bitcoin and ether are eligible for inclusion in the NCIUS. The launch of NCIQ builds on Hashdex’s track record of innovation and global market leadership in crypto index-based products, with the firm currently managing the largest multi-asset crypto ETP in Europe2 and the largest ETF in Latin America.3
“Since our founding, Hashdex has held the belief that a basket of crypto assets offers multiple benefits and is a great way for many investors to participate in the crypto ecosystem. Until today, U.S. investors have been forced to either purchase coins directly or invest in single-asset vehicles,” said Marcelo Sampaio, Co-Founder and CEO of Hashdex. “Now, with the launch of NCIQ, we are proud to deliver a familiar and readily tradeable U.S.-based product that provides seamless exposure to bitcoin and ether. Alongside our partners at Nasdaq Global Indexes, we are thrilled to take this exciting step in bringing our expertise in crypto index and crypto index-based products to U.S. investors, and we look forward to continuing to deliver innovative crypto index products as the industry and regulatory landscape further evolves.”
The launch of NCIQ marks an important milestone in the U.S. crypto market and continues the long-term partnership between Hashdex and Nasdaq Global Indexes. Hashdex and Nasdaq Global Indexes have been among the pioneers in developing crypto index and index-based products since 2021.
“Nasdaq Global Indexes and Hashdex share a mission of advancing crypto asset indexes and financial vehicles to meet the ever-growing demand from investors looking for access to the rapidly evolving crypto sector,” said Cameron Lilja, Vice President and Global Head of Index Product and Operations, Nasdaq Global Indexes. “Nasdaq Crypto™ Indexes offer a standardized approach to capturing the performance of a material portion of the overall crypto asset market, serving as a guidepost in the dynamic crypto asset landscape. Today’s announcement marks a significant step forward in bringing a rules-based methodology-driven benchmark to US investors, adding to comparable products in Europe and Latin America.”
Hashdex serves as the sponsor for NCIQ. Paralel Distributors LLC serves as marketing agent, and Coinbase Custody and BitGo Trust serve as crypto asset custodians. Nasdaq serves as the index administrator and listing venue. The fund administrator is U.S. Bank Global Fund Services.
“With interest in crypto asset ETFs continuing to grow, reaching over $120 billion in U.S. AUM alone4, we believe that what investors really need is an easy, passive way to invest in a product that is constantly evolving to capture the latest trends in the broader crypto market. With a structure similar to traditional index products, NCIQ offers investors a multi-asset investment approach that is proven, familiar, and readily tradeable,” said Samir Kerbage, CIO at Hashdex. “As the crypto market continues to develop, we expect there to be ongoing volatility with newer coins that disrupt the market share of bitcoin, ether and other dominant assets, and we expect index-based products will enable wealth managers and investors to benefit from the growth of the rapidly changing sector without needing to be actively managing single asset crypto exposure.”
Hashdex has no role in maintaining, calculating or publishing NCIUS.
A registration statement (including a prospectus) has been filed with the SEC for the offering to which this communication relates and can be found here:https://www.sec.gov/Archives/edgar/data/2031069/000121390025013738/ea0209567-10.htm. Before you invest, you should read the prospectus in that registration statement and other documents that have been filed with the SEC for more complete information about NCIQ and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, Hashdex will arrange to send you the prospectus, if you request it by calling toll-free 917-525-5635.
About Hashdex Hashdex is a global pioneer in crypto asset management. The firm’s mission is to provide educational resources and best-in-class products that advance its efforts to help open the crypto ecosystem to investors around the world. Hashdex co-developed the Nasdaq Crypto™ Index (NCI™) with Nasdaq to provide global investors with a reliable benchmark for the crypto asset class. In 2021, Hashdex introduced the world’s first crypto ETF5 and other innovative products, enabling over 350,000 investors to simply and securely add crypto to their portfolios. Since 2018, Hashdex has established itself as a global leader in crypto index ETFs, helping to pave the way for crypto’s mainstream adoption across eight countries. Hashdex currently offers 4 index products tracking the global version of the NCI™, including the largest multi-asset crypto ETF in the world.6 Additionally, the Hashdex Nasdaq Crypto Index Europe ETP (“HASH”) is the largest multi-asset crypto ETP in Europe and recently won ETF Stream’s Digital Asset ETP of the year award.7 The firm’s total AUM across its range of products is more than $1.3 billion.8
Hashdex Media Contacts: Kendal Till/Josh Gerth Dukas Linden Public Relations Hashdex@DLPR.com
Legal Disclaimer
Carefully consider the investment objectives, risks, charges and expenses before investing.
Investing involves risk, including possible loss of principal. The Product, an exchange traded product, is not an investment company registered under the Investment Company Act of 1940 (“1940 Act”). Shares of the Product are not subject to the same regulations and protections as 1940 Act registered ETFs and mutual funds.
Shares of the Product are bought and sold at a market price, not at net asset value. Brokerage commissions will reduce returns.
This material expresses the opinion of Hashdex Group and its subsidiaries and affiliates (“Hashdex”) for informational purposes only and does not consider the investment objectives, financial situation or individual needs of any one investor or a particular group of investors. Certain opinions and viewpoints expressed may reflect personal views of the authors and not necessarily those of Hashdex. We recommend consulting specialized professionals for investment decisions. Investors are advised to carefully read the prospectus or regulations before investing in their products. The information and conclusions contained in this material may be changed at any time, without prior notice. Nothing contained herein constitutes an offer, solicitation or recommendation regarding any investment management product or service. This information is not directed at or intended for distribution to or use by any person or entity located in any jurisdiction where such distribution, publication, availability or use would be contrary to applicable law or regulation or which would subject Hashdex to any registration or licensing requirements within such jurisdiction.
Important Risks
Investment in any investment vehicle and cryptoassets is highly speculative and is not intended as a complete investment program. It is designed only for sophisticated persons who can bear the economic risk of the loss of their entire investment and who have limited need for liquidity in their investment. There can be no assurance that the investment vehicle will achieve its investment objective or return any capital. No guarantee or representation is made that Hashdex’s investment strategy, including, without limitation, its business and investment objectives, diversification strategies or risk monitoring goals, will be successful, and investment results may vary substantially over time. Nothing herein is intended to imply that the Hashdex investment methodology or that investing in any of the Product or crypto assets referenced herein may be considered “conservative,” “safe,” “risk free,” or “risk averse.”
Certain information contained herein (including financial information) has been obtained from published and non-published sources. Such information has not been independently verified by Hashdex. Hashdex does not provide tax, accounting or legal advice. Certain information contained herein constitutes forward-looking statements, which can be identified by the use of terms such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” “believe” and “seek” (or the negatives thereof) or other variations thereof. Due to various risks and uncertainties, including those discussed above, actual events or results, the ultimate business or activities of Hashdex and its investment vehicles or the actual performance of Hashdex, its investment vehicles, or crypto assets may differ materially from those reflected or contemplated in such forward-looking statements. As a result, investors should not rely on such forward- looking statements in making their investment decisions. No governmental authority has opined on the merits of Hashdex’s investment vehicles or the adequacy of the information contained herein.
This material is not an offer or solicitation of any kind to buy or sell any securities outside of the United States of America.
Product Risks
An investment in the Product involves significant risks and you could incur a partial or total loss of your investment in the Product.
Crypto assets generally are volatile, and instruments whose underlying investments include crypto assets are not suitable for all investors. Crypto assets represent a new and rapidly evolving industry. The value of the Product depends on the acceptance of the crypto assets, the capabilities and development of blockchain technologies and the fundamental investment characteristics of the crypto assets. Crypto platforms may be largely unregulated or may be largely or entirely non-compliant with applicable regulation and may therefore be more exposed to fraud and failure. Crypto asset markets in the U.S. exist in a state of regulatory uncertainty, and adverse legislative or regulatory developments could significantly harm the Product.
The market for crypto assets is still developing and may be subject to periods of illiquidity. During such times it may be difficult or impossible to buy or sell a position at the desired price. Possible illiquid markets may exacerbate losses or increase the variability between the Product’s NAV and its market price. The lack of active trading markets for the Product shares may result in losses on investors’ investments at the time of disposition of the Product’s shares.
Both the Index and the Product are new with a limited operating history.
Nasdaq® is a registered trademark of Nasdaq, Inc. Corporations make no representation or warranty, whether express or implied, to the owners of the fund(s) or any member of the public regarding the suitability of investing in securities in general or in the fund(s) in particular, or the ability of the Nasdaq Crypto US Index to track the performance of the market for crypto assets, or any portion thereof. The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular digital asset or an overall investment strategy. Neither Nasdaq, Inc. nor any of its affiliates makes any recommendation to buy or sell any digital asset or any representation about the financial condition of a digital asset. Statements regarding Nasdaq proprietary indexes are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate assets before investing. ADVICE FROM A FINANCIAL PROFESSIONAL IS STRONGLY ADVISED.
1 Bitcoin’s market cap was $1.92T and ether’s market cap was $387B, according to Messari.io data as of January 13, 2025 2 The Hashdex Nasdaq Crypto Index Europe ETP (HASH) is the largest multi-asset crypto ETP in Europe according to Bloomberg fund asset data for the “Western Europe” region as of January 7, 2025 3 The Hashdex Nasdaq Crypto Index Fundo de Indice (HASH11) is the largest multi-asset crypto ETF in Latin America according to Bloomberg fund asset data for the “Central & South America” region as of January 7, 2025 4 Blockworks.co data on Bitcoin and Ethereum ETFs in the U.S. as of February 10, 2025. 5 The Hashdex Nasdaq Crypto Index ETF began trading on the Bermuda Stock Exchange on February 9, 2021. 6 The Hashdex Nasdaq Crypto Index Fundo de Indice (HASH11) is the largest multi-asset crypto ETF in the world according to Bloomberg fund asset data for all regions as of January 7, 2025 7 https://www.etfstream.com/articles/etf-stream-reveals-winners-of-etf-awards-2024 8 Hashdex AUM data as of February 10, 2025, https://hashdex.com/en-US
Source: United Kingdom – Executive Government & Departments
The Foreign Secretary will press partners to replicate Britain’s world-first plans for a sanctions aimed at organised immigration crime gangs.
Foreign Secretary urges international action on one of the defining security threats of our time – irregular migration
Partners pressed to replicate UK’s world-first plans for sanctions targeting people smugglers
£8m additional funding will short-circuit people smugglers’ business model, delivering on the government’s Plan for Change and commitment to protect UK borders
European partners will be urged to join up with the UK’s pioneering efforts to smash the business model of people smugglers to help tackle irregular migration.
The Foreign Secretary David Lammy will press partners at the Munich Security Conference to replicate Britain’s world-first plans for a sanctions regime aimed squarely at organised immigration crime gangs and their networks.
On the first day of the conference (today), the Foreign Secretary met Vice President of the US J.D. Vance. They discussed the importance of the special relationship, the war in Ukraine, their shared commitment to NATO and AUKUS, and building on our strong trade which already delivers growth and jobs for millions.
The UK and Italy will co-host a migration roundtable on the second day of conference, gathering representatives from The Netherlands, Poland, Bulgaria, Romania, Germany and others to promote the use of innovative tools to tackle migrant smuggling and organised immigration crime.
The UK’s plans to freeze the assets of and slap travel bans on smugglers who facilitate the deadly trade in people will help to cripple people-smuggling crime rings and starve them of illicit finance fuelling their operations, delivering on the government’s commitment to secure borders.
The Government is targeting irregular migration through a ‘whole-of-route’ approach, tackling both smugglers and the drivers of migration – such as limited opportunities in would-be migrants’ region.
A new £8m funding package announced today will give more people in East Africa an alternative to making perilous journeys to the UK in small boats by boosting access to education alongside employment opportunities across the region.
This programme has already helped to deliver entrepreneurship training to over 650 would-be and returned migrants in Ethiopia and Kenya, enabling many of them to set up their own businesses in their home countries, rather than migrating further afield.
Foreign Secretary, David Lammy said:
Criminal gangs enabling irregular migration are a national security threat across Europe. We must deliver on our mandate to smash the gangs, secure this country’s borders and deliver the Plan for Change.
Only by working together with our neighbours will we take the wind out of their sails and degrade the appalling trade in people.
We must also target the root causes of migration, which is why we are boosting opportunities across Eastern Africa – making people less likely to travel to the UK in the first place.
This will further boost this government’s progress on irregular migration. Nearly 19,000 failed asylum seekers, foreign criminals and other immigration offenders have been returned since the election to countries across Africa, Asia, Europe and South America following a major escalation in immigration enforcement by the Home Office.
The government’s success in ramping up removals is a key part of our Plan for Change to deliver on working people’s priorities and finally restoring order to the asylum system. This new approach focusses on breaking the business model of smuggling gangs through tougher law enforcement powers than ever before, rapidly removing those who are here illegally and ending the false promise of jobs used by gangs to sell spaces on boats.
Following a drive from this government to have more deployable enforcement staff, a renewed crackdown on those attempting to undermine the UK’s borders last month saw the highest January in over half a decade for enforcement activity.
Throughout January alone, Immigration Enforcement teams descended on 828 premises, including nail bars, convenience stores, restaurants and car washes, marking a 48% rise compared to the previous January. Arrests also surged to 609, demonstrating a 73% increase from just 352 the previous year.
Source: People’s Republic of China – State Council News
HARBIN, Feb. 14 — Chinese Premier Li Qiang on Friday met with Prime Minister of the Cook Islands Mark Brown in Harbin, capital city of northeast China’s Heilongjiang Province.
Brown is here for the closing ceremony of the 9th Asian Winter Games.
Since the establishment of diplomatic ties 28 years ago, China and the Cook Islands have always treated each other with sincerity, friendship and equality, Li said. They have also continuously promoted mutually beneficial cooperation in various fields, and moved forward hand in hand on the path of common development, he added.
He said that China is committed to equality among all countries, big or small, and firmly supports the people of the Cook Islands in choosing a development path suited to their own national conditions independently.
Li expressed a willingness to deepen political mutual trust and expand practical cooperation with the Cook Islands, aiming to achieve more tangible results and bring more benefits to the two peoples.
China stands ready to enhance the synergy of the high-quality Belt and Road Initiative and the development strategies of the Cook Islands, and to push for deeper, more solid mutually beneficial cooperation on oceans, infrastructure, agriculture and fisheries, Li said.
China welcomes an increase in imports of quality products from the Cook Islands, and more Chinese people are encouraged to travel to the Cook Islands, Li said, adding that the two countries should strengthen exchange and cooperation in fields such as education, culture, health and youth, and increase the number of friendly people-to-people exchanges.
China is willing to work with the Cook Islands to uphold the principle of common but differentiated responsibilities, address the challenge of climate change, and build a fair, reasonable and win-win global climate governance system.
Brown said that with nearly 30 years of friendly cooperative relations between the two countries, the Cook Islands always regards China as an important partner and good friend. He expressed his sincere appreciation to China for its strong, long-term support and assistance for the economic and social development of the Cook Islands and other Pacific island countries.
The Cook Islands attaches great importance to relations with China, will continue to abide by the one-China principle, strengthen multilateral coordination on climate change and in other areas, and push for the sustained, in-depth development of the bilateral comprehensive strategic partnership, Brown said.
Following the meeting, the two leaders witnessed the signing of a number of bilateral cooperation documents.
Source: United States Senator Ben Ray Luján (D-New Mexico)
Heinrich, Luján, Leger Fernández, Stansbury, Vasquez: “Large-scale firings of probationary employees would ripple through our communities, reducing consumer spending, straining local businesses, and creating unnecessary economic instability”
“Federal agencies must be staffed by qualified professionals, not political loyalists”
Washington, D.C. — U.S. Senators Martin Heinrich (D-N.M.) and Ben Ray Luján (D-N.M.), and U.S. Representatives Teresa Leger Fernández (D-N.M.), Melanie Stansbury (D-N.M.), and Gabe Vasquez (D-N.M.) are demanding that President Trump immediately halt his unlawful mass firings of federal employees on probationary status.
Nearly all federal employees are routinely in a probationary period for the first one or two years of service and more than 200,000 of them are on probationary status across the federal government. In New Mexico, there are approximately 2,200 federal employees in their probationary period – including individuals who serve in critical roles across key agencies, including the Veterans Health Administration, the Bureau of Land Management, the U.S. Forest Service, and the Federal Bureau of Investigation, among others.
“Abruptly terminating these employees without due process would not only undermine the delivery of essential government services but would also have widespread economic consequences for our state. Federal employment is a major contributor to New Mexico’s economy, supporting thousands of families and generating significant local revenue. Large-scale firings of probationary employees would ripple through our communities, reducing consumer spending, straining local businesses, and creating unnecessary economic instability,” the lawmakers wrote in their letter to President Trump.
The delegation emphasized how these firings could endanger the safety of New Mexicans, “Recent reports highlight the Federal Bureau of Investigation’s extensive training and reliance on probationary employees, with new agents and support staff actively investigating crimes nationwide. Dismissing these employees could have dire consequences on national security and public safety. Such firings are sure to weaken national security by removing personnel involved in critical investigations. The loss of these agents would leave vital work unfinished and could compromise public safety both in the present and for years to come.”
Additionally, the delegation highlighted that probationary employees are subject to established federal workforce protections, underscoring the unlawfulness of terminating employees for reasons other than performance or conduct issues, “Concerns have already been raised about the legality of these terminations, noting that mass layoffs without individualized assessments violate existing federal workforce statutes. Federal law permits the termination of probationary employees based on performance or conduct. It does not allow for large-scale firings without individualized assessments or adherence to Reduction in Force procedures. Additionally, it explicitly prohibits dismissing probationary employees for partisan political reasons. Federal agencies must be staffed by qualified professionals, not political loyalists.”
The lawmakers demanded, “We urge your Administration to halt any plans for mass firings of probationary employees in New Mexico and across the country.”
The text of the letter is here and below:
Dear President Trump,
We write to express serious concerns about your Administration’s efforts to target federal employees, particularly those on probationary status. Probationary employees are subject to established federal workforce protections, including adherence to Reduction in Force (RIF) procedures (5 C.F.R. § 351.201(a)(1)). Any attempt to circumvent legal protections by imposing mass terminations would be unprecedented, disruptive, and illegal.
Nationally, there are more than 2.4 million federal workers. Nearly all federal employees are routinely in a probationary period for the first one or two years of service and more than 200,000 of them are on probationary status across the federal government. In New Mexico, there are approximately 2,200 federal employees in their probationary period – including individuals who serve in critical roles across key agencies, including the Veterans Health Administration, the Bureau of Land Management, the U.S. Forest Service, and the Federal Bureau of Investigation, among others.
Abruptly terminating these employees without due process would not only undermine the delivery of essential government services but would also have widespread economic consequences for our state. Federal employment is a major contributor to New Mexico’s economy, supporting thousands of families and generating significant local revenue. Large-scale firings of probationary employees would ripple through our communities, reducing consumer spending, straining local businesses, and creating unnecessary economic instability.
Immediately terminating probationary employees also risks long-term harm to the federal workforce. Many of these probationary employees represent the next generation of skilled public servants – 27% are under the age of 30 – and they report the highest levels of job engagement across the federal workforce. Signaling that federal employment is unstable and subject to arbitrary dismissal will undermine recruitment and retention efforts, making it harder for agencies to attract and keep the skilled professionals essential to their missions (5 C.F.R. § 351.501).
Concerns have already been raised about the legality of these terminations, noting that mass layoffs without individualized assessments violate existing federal workforce statutes. Federal law permits the termination of probationary employees based on performance or conduct. It does not allow for large-scale firings without individualized assessments or adherence to Reduction in Force procedures. Additionally, it explicitly prohibits dismissing probationary employees for partisan political reasons. Federal agencies must be staffed by qualified professionals, not political loyalists.
Particularly concerning are the potential implications for public safety. Recent reports highlight the Federal Bureau of Investigation’s extensive training and reliance on probationary employees, with new agents and support staff actively investigating crimes nationwide. Dismissing these employees could have dire consequences on national security and public safety. Such firings are sure to weaken national security by removing personnel involved in critical investigations. The loss of these agents would leave vital work unfinished and could compromise public safety both in the present and for years to come.
Given all of the above, we urge your Administration to halt any plans for mass firings of probationary employees in New Mexico and across the country.
Source: United Kingdom – Executive Government & Departments
The Medicines and Healthcare products Regulatory Agency (MHRA) has today, 14 February 2025, approved efanesoctocog alfa (brand name Altuvoct) to be used to treat and prevent bleeding in patients aged 2 years and above with severe or moderate haemophilia A.
The Medicines and Healthcare products Regulatory Agency (MHRA) has today, 14 February 2025, approved efanesoctocog alfa (brand name Altuvoct) to be used to treat and prevent bleeding in patients aged 2 years and above with severe or moderate haemophilia A.
Efanesoctocog alfa, the active substance, is a replacement factor VIII protein. This protein is naturally found in the body and is necessary for the blood to form clots and stop bleeding.
People with severe haemophilia A have undetectable factor VIII and, if untreated, may experience up to about 40 episodes of bleed per year.
This medicine is administered as an intravenously (into a vein).
Julian Beach, MHRA Interim Executive Director of Healthcare Quality and Access, said:
“Patient safety is our top priority, which is why I am pleased to confirm approval of efanesoctocog alfa to treat and prevent bleeding in patients 2 years and above with severe or moderate haemophilia A.
“We’re assured that the appropriate regulatory standards of safety, quality and efficacy for the approval of this new formulation have been met.
“As with all products, we will keep its safety under close review.”
In a study with 159 patients aged 12 and above with severe haemophilia A, weekly injections of Altuvoct as prophylaxis led to 65% patients reporting zero overall episodes of bleed over the course of the year-long study; the remaining 35% had much reduced episodes of bleed. Altuvoct was also used to treat individual bleeds.
In a study involving 74 children under 12 years of age with severe haemophilia A, treatment with efanesoctocog alfa yielded similar results to those in older patients.
Efanesoctocog alfa was therefore considered effective for the prophylaxis and treatment of severe haemophilia A in children aged 2yrs and above.
The company extended the indication to those with moderate haemophilia A by means of a modelling exercise.
Like all medicines, this medicine can cause side effects, although not everybody gets them. Some of the potential side effects include headaches and arthralgia (joint pain).
For the full list of all side effects reported with this medicine, see Section 4 of the PIL or the SmPC available on the MHRA website.
Anyone who suspects they are having a side effect from this medicine are encouraged to talk to their doctor, pharmacist or nurse and report it directly to the MHRA Yellow Card scheme, either through the website (https://yellowcard.mhra.gov.uk/) or by searching the Google Play or Apple App stores for MHRA Yellow Card.
ENDS
Notes to editors
The new marketing authorisation was granted on 14 February 2025 to Swedish Orphan Biovitrum AB
This product was submitted and approved via an international recognition procedure.
More information can be found in the Summary of Product Characteristics and Patient Information leaflets which will be published on the MHRA Products website within 7 days of approval.
The Medicines and Healthcare products Regulatory Agency (MHRA) is responsible for regulating all medicines and medical devices in the UK by ensuring they work and are acceptably safe. All our work is underpinned by robust and fact-based judgements to ensure that the benefits justify any risks.
The MHRA is an executive agency of the Department of Health and Social Care.
For media enquiries, please contact the newscentre@mhra.gov.uk, or call on 020 3080 7651
Source: State University Higher School of Economics – State University Higher School of Economics –
Photo: Higher School of Economics
Thanks to the rapid development of digital technologies, the banking sector is going through a period of profound transformation. One of the key changes was the transition to a human-centric model, in which priority is given to the interests and needs of the client. This topic was discussed at the webinar Laboratories of human-centeredness and leadership practices HSE and the Bank of Russia. The event brought together over 1,400 representatives of banking and financial organizations from all over Russia.
The webinar was a logical continuation conferences “Focus on the Client”, which was attended by the Chairman of the Bank of Russia Elvira Nabiullina and top management of leading Russian banks. The moderator of the plenary session was Vladimir Solovyov, Head of the Laboratory of Human-Centricity and Leadership Practices at the National Research University Higher School of Economics (CHIL Laboratory). The experts discussed what a smart bank of the future should be like.
The webinar participants were able to delve deeper into the theory and practice of implementing human-centricity in banks, noted Ekaterina Butova, First Deputy Head of the Service for the Protection of Consumer Rights and Ensuring the Availability of Financial Services of the Bank of Russia.
The key event of the webinar was the presentation of the results of the study conducted last year by the CHIL Laboratory and the International Laboratory of Digital Transformation in Public Administration under the auspices of the Bank of Russia. It was based on a model developed by the CHIL Laboratory, consisting of eight key aspects that allow measuring the level of human-centricity in an organization. This tool can be used by banks to assess the current situation and further development. A survey of more than 16 thousand respondents was conducted – managers and employees of government agencies.
“The results showed that the bank of the future is a human-centric cognitive bank, where artificial and human intelligence work in synergy to deeply understand customers and offer personalized solutions,” the head of the bank noted. International laboratory of CTSU Evgeny Styrin.
At the same time, in-depth interviews revealed that the introduction of AI and other digital tools into banking processes has both significant advantages and a number of disadvantages, and also leads to the emergence of ethical challenges.
“34% of respondents do not want to communicate with virtual voice assistants. At the same time, negative emotions that arise during communication with them multiply very quickly, while the emergence and consolidation of positive associations requires serious efforts,” explained Oleg Samolyanov, chief expert of the CHIL Laboratory.
Representatives of major Russian banks shared their vision of the smart bank of the future. Nikolay Tiden, Director of the Modeling and Data Research Division of the Sales Network Block of Sberbank, believes that the basis for the development of banks of the future is personalization and security. The use of artificial intelligence at all stages of interaction with clients makes user services simpler, more convenient, more reliable and more profitable.
“A smart bank of the future values its employees, understands its clients and knows how to adapt its products and services to their needs, including actively introducing new technologies,” says Vyacheslav Rodnishev, Director of the Customer Experience and Retail Business Coordination Department at Alfa-Bank.
At the same time, the implementation of AI solutions in the banking sector is associated with a number of ethical challenges, including data bias, protection of personal information, responsibility for AI decisions and transparency of algorithms.
“One of the most important aspects of monitoring the ethics and correctness of artificial intelligence is monitoring its work and quality. The user must feel that the bank’s AI is attentive to his interests, accurate in its answers and financial forecasts,” says Ivan Sidorovsky, head of products for ecosystem assistants at T-Bank.
Currently, the issues of customer trust in smart assistants developed by banking organizations and the ethics of using artificial intelligence have not been fully resolved; their discussion in the expert community continues. The solution will require a comprehensive approach combining technological, organizational and regulatory measures.
“From the point of view of the Central Bank as a regulator, human-centricity is the key that helps to solve the root problems underlying some disputes, misunderstandings and difficulties that arise between the consumer and the financial institution,” notes Mikhail Mamuta, Head of the Service for Consumer Rights Protection and Ensuring Accessibility of Financial Services at the Bank of Russia.
He emphasizes that human-centricity in financial organizations should begin with caring for employees, who, in turn, will transfer it to clients. Then the financial world will become more harmonious.
The content of the discussion about human-centricity in the context of digital transformation and the use of AI largely depends on the ability to rely on structured data and the results of sociological research.
“Today, an important and urgent task for our team is to monitor the transformation of the banking sector towards human-centricity: what new tools are emerging, what problems organizations face and how they solve them. And artificial intelligence in all its manifestations is certainly one of the key factors influencing the development of human-centricity,” Vladimir Solovyov summarized.
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.
Coventry City Council has successfully secured National Lottery funding from Sport England’s Swimming Pool Support Fund (SPSF) to enhance sustainability efforts at three leisure centres in the city.
Almost £750k has been awarded to The Alan Higgs Centre, Centre AT7 and Xcel Leisure Centre, all of which are operated by CV Life.
A capital grant of £250,000 has been awarded to install solar panels at The Alan Higgs Centre, whilst Centre AT7 has received £270k for the installation of solar panels and the replacement of fluorescent lighting with LED lighting.
Xcel Leisure Centre will also see the installation of LED lighting as well as an upgrade to its building management system which will be covered by a £220k grant.
Cllr Jim O’Boyle, Cabinet Member for Jobs, Regeneration and Climate Change, added: “This funding is a real boost for CV Life leisure centres, helping them to become more energy efficient and sustainable.
“By installing solar panels, LED lighting and upgrading building management systems, we are taking steps to cut carbon emissions and reduce our reliance on traditional energy sources.
“Not only will these upgrades lower running costs over the coming years, they also contribute to our broader efforts to make Coventry a cleaner, greener city.”
Work to the centres started in January and is expected to be finished later this month. The installation of PV panels will contribute to energy efficiency and sustainability, ensuring long-term benefits for the facility and the local community.
Cllr Kamran Caan, Cabinet Member for Public Health and Sport, added: “It’s fantastic to see that Coventry has been awarded funding from Sport England to support three hugely popular leisure centres in the city.
“Day to day running costs of leisure centres is constantly on the rise. This funding will help the centres continue to provide high quality facilities to residents whilst reducing energy bills by around £140k per year.”
Funding was awarded based on a selection of sites serving areas with the highest need. The allocation of funding aligns with Sport England’s national funding scheme aimed at supporting public leisure centres with swimming pools across the country.
Steve Wiles, Chief Operating Officer at CV Life, said: “We’re delighted to have secured this funding, which will make a real difference to the sustainability of our leisure centres.
“These improvements will help us reduce energy consumption, lower costs, and create more environmentally friendly facilities for the community. By investing in solar panels, LED lighting, and building management upgrades, we’re ensuring that our centres remain accessible, efficient and fit for the future.”
Famine Early Warning Systems Network (Fews Net), a web-based platform for predicting famine, went offline on 30 January 2025. The system had provided up-to-date data to predict and track food insecurity in nearly 30 countries in Africa, central America and Asia for 40 years. It was funded by the US Agency for International Development (USAid). It went offline following USAid’s shutdown by the new US administration.
In Kenya, Fews Net worked with the National Drought Management Agency and the Kenya Food Security Steering Group to develop regular outlook reports at national and county levels. Timothy Njagi Njeru, an agricultural economist who researches food security and emergency responses, explains what Fews Net’s abrupt departure portends for Kenya.
What are the highlights of the network’s work in Kenya?
The famine early warning network provided data and interpretation to shape decisions on food insecurity in Kenya. The Kenyan pages on the web platform – which has gone dark – included:
an outlook for crop production based on climate data and extreme weather events
a standardised measure of food insecurity that helped governments prioritise their responses
a forecast of potential food crises using climate, economic and conflict data.
Fews Net was launched in response to devastating famines in east and west Africa in the mid-1980s. Its main objective was to gather and analyse data to help governments avert food security crises.
This evolved to support other critical areas that affected food security. For example, in the beginning, the network used weather information to generate forecasts on food crises. In time, it also collected price data and trade data, especially on staple commodities, to inform market stabilisation policies. And it tracked climate adaptation strategies.
Its work helped highlight the regions vulnerable to food insecurity, assessed the support these communities got and tracked the effects of weather variability.
In Kenya, the network worked with the Kenya Food Security Steering Group, which is made up of government, multilateral and non-profit agencies. The National Drought Management Authority, Kenya Meteorological Department and Kenya National Bureau of Statistics are in the group. So are the ministries of agriculture, health, water and education, and county governments. Development partners such as the Food and Agriculture Organization (FAO) and Unicef, and civil society organisations, such as the World Food Program and World Vision, are also members.
Their work was published in regular Food and Nutrition Security Assessments.
Fews Net also provided country and county-level briefs. These provided updates on the scale of food insecurity and assistance provided to these regions. They contained forecasts of crop and livestock production. They provided analyses of food trade, price trends, conflict incidences, and performance of assistance programmes. The forecasts helped generate recommendations for specific regions.
All this data was critical for market intelligence and developing value chains. It helped stakeholders make decisions about services, infrastructure support and demand or supply.
What difference has it made?
The Famine Early Warning Systems Network made a huge contribution to Kenya and the region as a whole. The seasonal food security forecasts enabled governments and development partners to respond to crises adequately and in a coordinated manner.
The network’s analytics on price trends and food trade proved very useful in overcoming obstacles to food trade. These included information asymmetry on demand and supply trends. The analytics also highlighted where infrastructural or security challenges might affect the flow of food from surplus to deficit areas. This equipped the government and stakeholders with the information to respond appropriately.
The analytics on household data provided information on household income, food availability and mechanisms to cope with food shocks. This informs government and others about local communities’ capacity to respond to shocks.
The tracking of local market price data informed policy responses, such as livestock offtake programmes at the height of drought or famines. Offtake programmes provide a ready market for families grappling with drought. They enable them to sell their cattle before incurring losses caused by livestock deaths during drought seasons. These programmes help communities enhance their market participation and reduce losses as they are able to sell their livestock at fair prices.
What gaps will its absence create?
The absence of the early warning network will affect Kenya’s ability to address food insecurity. It leaves a gap in financial and technical capacity to generate timely forecasts to inform decision making.
It will take time for other institutions to replace that contribution. In the short run, stakeholders can use the information that’s already been generated. In the medium term, there may be uncertainty and incoherence in interventions and investments.
Because Kenya’s weather has been so variable, the country needs seasonal forecasts at both national and county levels.
What should Kenya do to fill the gap?
Kenya can strengthen the capacity in institutions such as the drought management authority and statistics bureau.
In the long term, the country must increase financial investments that support food security. And it must build technical capacity to produce credible, reliable and timely food security forecasts.
Timothy Njagi Njeru does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
A spontaneous memorial of flowers in St Petersburg, Russia, on the day of Alexei Navalny’s death, February 16 2024.Aleksey Dushutin/Shutterstock
This is the best day of the past five months for me … This is my home … I am not afraid of anything and I urge you not to be afraid of anything either.
These were Alexei Navalny’s words after landing at Moscow’s Sheremetyevo Airport on January 17 2021. Russia’s leading opposition figure had spent the past months recovering in Germany from an attempt on his life by the Russian Federal Security Service (FSB). Minutes after making his comments, Navalny was detained at border control. And he would remain behind bars until his death on February 16 2024, in the remote “Polar Wolf” penal colony within the Arctic Circle.
“Why did he return to Russia?” That’s the question I’m asked about Navalny most frequently. Wasn’t it a mistake to return to certain imprisonment, when he could have maintained his opposition to Russia’s president, Vladimir Putin, from abroad?
But Navalny’s decision to return didn’t surprise me. I’ve researched and written about him extensively, including co-authoring Navalny: Putin’s Nemesis, Russia’s Future?, the first English-language, book-length account of his life and political activities. Defying the Kremlin by returning was a signature move, reflecting both his obstinacy and bravery. He wanted to make sure his supporters and activists in Russia did not feel abandoned, risking their lives while he lived a cushy life in exile.
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Besides, Navalny wasn’t returning to certain imprisonment. A close ally of his, Vladimir Ashurkov, told me in May 2022 that his “incarceration in Russia was not a certainty. It was a probability, a scenario – but it wasn’t like he was walking into a certain long-term prison term.”
Also, Navalny hadn’t chosen to leave Russia in the first place. He was unconscious when taken by plane from Omsk to Berlin for treatment following his poisoning with the nerve agent Novichok in August 2020. Navalny had been consistent in saying he was a Russian politician who needed to remain in Russia to be effective.
In a subsequent interview, conducted in a forest on the outskirts of the German capital as he slowly recovered, Navalny said: “In people’s minds, if you leave the country, that means you’ve surrendered.”
Video: ACF.
Outrage, detention and death
Two days after Navalny’s final return to Russia, the Anti-Corruption Foundation (ACF) – the organisation he established in 2011 – published its biggest ever investigation. The YouTube video exploring “Putin’s palace” on the Black Sea coast achieved an extraordinary 100 million views within ten days. By the start of February 2021, polling suggested it had been watched by more than a quarter of all adults in Russia.
Outrage at Navalny’s detention, combined with this Putin investigation, got people on to the streets. On January 23 2021, 160,000 people turned out across Russia in events that did not have prior approval from the authorities. More than 40% of the participants said they were taking part in a protest for the first time.
But the Russian authorities were determined to also make it their last time. Law enforcement mounted an awesome display of strength, detaining protesters and sometimes beating them. The number of participants at protests on January 31 and February 2 declined sharply as a result.
Between Navalny’s return to Russia in January 2021 and his death in February 2024, aged 47, he faced criminal case after criminal case, adding years and years to his time in prison and increasing the severity of his detention. By the time of his death, he was in the harshest type of prison in the Russian penitentiary system – a “special regime” colony – and was frequently sent to a punishment cell.
The obvious intent was to demoralise Navalny, his team and supporters – making an example of him to spread fear among anyone else who might consider mounting a challenge to the Kremlin. But Navalny fought back, as described in his posthumously published memoir, Patriot. He made legal challenges against his jailers. He went on hunger strike. And he formed a union for his fellow prisoners.
He also used his court appearances to make clear his political views, including following Russia’s full-scale invasion of Ukraine in February 2022, declaring: “I am against this war. I consider it immoral, fratricidal, and criminal.”
Navalny’s final public appearance was via video link. He was in good spirits, with his trademark optimism and humour still on display. Tongue firmly in cheek, he asked the judge for financial help:
Your Honour, I will send you my personal account number so that you can use your huge salary as a federal judge to ‘warm up’ my personal account, because I am running out of money.
Navalny died the following day. According to the prison authorities, he collapsed after a short walk and lost consciousness. Although the Russian authorities claimed he had died of natural causes, documents published in September 2024 by The Insider – a Russia-focused, Latvia-based independent investigative website – suggest Navalny may have been poisoned.
A mourner adds her tribute to Alexei Navalny’s grave in Moscow after his burial on March 1 2024. Aleksey Dushutin/Shutterstock
Whether or not Putin directly ordered his death, Russia’s president bears responsibility – for leading a system that tried to assassinate Navalny in August 2020, and for allowing his imprisonment following Navalny’s return to Russia in conditions designed to crush him.
Commenting in March 2024, Putin stated that, just days before Navalny’s death, he had agreed for his most vocal opponent to be included in a prisoner swap – on condition the opposition figure never returned to Russia. “But, unfortunately,” Putin added, “what happened, happened.”
‘No one will forget’
Putin is afraid of Alexei, even after he killed him.
Yulia Navalnaya, Navalny’s wife, wrote these words on January 10 2025 after reading a curious letter. His mother, Lyudmila Navalnaya, had written to Rosfinmonitoring – a Russian state body – with a request for her son’s name to be removed from their list of “extremists and terrorists” now he was no longer alive.
The official response was straight from Kafka. Navalny’s name could not be removed as it had been added following the initiation of a criminal case against him. Even though he was dead, Rosfinmonitoring had not been informed about a termination of the case “in accordance with the procedure established by law”, so his name would have to remain.
This appears to be yet another instance of the Russian state exercising cruelty behind the veil of bureaucratic legality – such as when the prison authorities initially refused to release Navalny’s body to his mother after his death.
“Putin is doing this to scare you,” Yulia continued. “He wants you to be afraid to even mention Alexei, and gradually to forget his name. But no one will forget.”
Alexei Navalny and his wife, Yulia Navalnaya, at a protest rally in Moscow, May 2012. Dmitry Laudin/Shutterstock
Today, Navalny’s family and team continue his work outside of Russia – and are fighting to keep his name alive back home. But the odds are against them. Polling suggests the share of Russians who say they know nothing about Navalny or his activities roughly doubled to 30% between his return in January 2021 and his death three years later.
Navalny fought against an autocratic system – and paid the price with his life. Given the very real fears Russians may have of voicing support for a man still labelled an extremist by the Putin regime, it’s not easy to assess what people there really think of him and his legacy. But we will also never know how popular Navalny would have been in the “normal” political system he fought for.
What made Navalny the force he was?
Navalny didn’t mean for the humble yellow rubber duck to become such a potent symbol of resistance.
In March 2017, the ACF published its latest investigation into elite corruption, this time focusing on then-prime minister (and former president), Dmitry Medvedev. Navalny’s team members had become masters of producing slick videos that enabled their message to reach a broad audience. A week after posting, the film had racked up over 7 million views on YouTube – an extraordinary number at that time.
The film included shocking details of Medvedev’s alleged avarice, including yachts and luxury properties. In the centre of a large pond in one of these properties was a duck house, footage of which was captured by the ACF using a drone.
Video: ACF.
Such luxuries jarred with many people’s view of Medvedev as being a bit different to Putin and his cronies. As Navalny wrote in his memoir, Medvedev had previously seemed “harmless and incongruous”. (At the time, Medvedev’s spokeswoman said it was “pointless” to comment on the ACF investigation, suggesting the report was a “propaganda attack from an opposition figure and a convict”.)
But people were angry, and the report triggered mass street protests across Russia. They carried yellow ducks and trainers, a second unintended symbol from the film given Medvedev’s penchant for them.
Another reason why so many people came out to protest on March 26 2017 was the organising work carried out by Navalny’s movement.
The previous December, Navalny had announced his intention to run in the 2018 presidential election. As part of the campaign, he and his team created a network of regional headquarters to bring together supporters and train activists across Russia. Although the authorities had rejected Navalny’s efforts to register an official political party, this regional network functioned in much the same way, gathering like-minded people in support of an electoral candidate. And this infrastructure helped get people out on the streets.
The Kremlin saw this as a clear threat. According to a December 2020 investigation by Bellingcat, CNN, Der Spiegel and The Insider, the FSB assassination squad implicated in the Novichok poisoning of Navalny had started trailing him in January 2017 – one month after he announced his run for the presidency.
At the protests against Medvedev, the authorities’ growing intolerance of Navalny was also on display – he was detained, fined and sentenced to 15 days’ imprisonment.
The Medvedev investigation was far from the beginning of Navalny’s story as a thorn in the Kremlin’s side. But this episode brings together all of the elements that made Navalny the force he was: anti-corruption activism, protest mobilisation, attempts to run as a “normal” politician in a system rigged against him, and savvy use of social media to raise his profile in all of these domains.
Courting controversy
In Patriot, Navalny writes that he always “felt sure a broad coalition was needed to fight Putin”. Yet over the years, his attempts to form that coalition led to some of the most controversial points of his political career.
In a 2007 video, Navalny referred to himself as a “certified nationalist”, advocating for the deportation of illegal immigrants, albeit without using violence and distancing himself from neo-Nazism. In the video, he says: “We have the right to be Russians in Russia, and we’ll defend that right.”
Although alienating some, Navalny was attempting to present a more acceptable face of nationalism, and he hoped to build a bridge between nationalists and liberals in taking on the Kremlin’s burgeoning authoritarianism.
But the prominence of nationalism in Navalny’s political identity varied markedly over time, probably reflecting his shifting estimations of which platform could attract the largest support within Russia. By the time of his thwarted run in the 2018 presidential election, nationalist talking points were all but absent from his rhetoric.
However, some of these former comments and positions continue to influence how people view him. For example, following Russia’s annexation of Crimea in 2014, Navalny tried to take a pragmatic stance. While acknowledging Russia’s flouting of international law, he said that Crimea was “now part of the Russian Federation” and would “never become part of Ukraine in the foreseeable future”.
Many Ukrainians take this as clear evidence that Navalny was a Russian imperialist. Though he later revised his position, saying Crimea should be returned to Ukraine, some saw this as too little, too late. But others were willing to look past the more controversial parts of his biography, recognising that Navalny represented the most effective domestic challenge to Putin.
Another key attempt to build a broad political coalition was Navalny’s Smart Voting initiative. This was a tactical voting project in which Navalny’s team encouraged voters to back the individual thought best-placed to defeat the ruling United Russia candidate, regardless of the challenger’s ideological position.
The project wasn’t met with universal approval. Some opposition figures and voters baulked at, or flatly refused to consider, the idea of voting for people whose ideological positions they found repugnant – or whom they viewed as being “fake” opposition figures, entirely in bed with the authorities. (This makes clear that Navalny was never the leader of the political opposition in Russia; he was, rather, the leading figure of a fractious constellation of individuals and groups.)
But others relished the opportunity to make rigged elections work in their favour. And there is evidence that Smart Voting did sometimes work, including in the September 2020 regional and local elections, for which Navalny had been campaigning when he was poisoned with Novichok.
In an astonishing moment captured on film during his recovery in Germany, Navalny speaks to an alleged member of the FSB squad sent to kill him. Pretending to be the aide to a senior FSB official, Navalny finds out that the nerve agent had been placed in his underpants.
How do Russians feel about Navalny now?
It’s like a member of the family has died.
This is what one Russian friend told me after hearing of Navalny’s death a year ago. Soon afterwards, the Levada Center – an independent Russian polling organisation – conducted a nationally representative survey to gauge the public’s reaction to the news.
The poll found that Navalny’s death was the second-most mentioned event by Russian people that month, after the capture of the Ukrainian city of Avdiivka by Russian troops. But when asked how they felt about his death, 69% of respondents said they had “no particular feelings” either way – while only 17% said they felt “sympathy” or “pity”.
And that broadly fits with Navalny’s approval ratings in Russia. After his poisoning in 2020, 20% of Russians said they approved of his activities – but this was down to 11% by February 2024.
Video: BBC.
Of course, these numbers must be taken for what they are: polling in an authoritarian state regarding a figure vilified and imprisoned by the regime, during a time of war and amid draconian restrictions on free speech. To what extent the drop in support for Navalny was real, rather than reflecting the increased fear people had in voicing their approval for an anti-regime figure, is hard to say with certainty.
When asked why they liked Navalny, 31% of those who approved of his activities said he spoke “the truth”, “honestly” or “directly”. For those who did not approve of his activities, 22% said he was “paid by the west”, “represented” the west’s interests, that he was a “foreign agent”, a “traitor” or a “puppet”.
The Kremlin had long tried to discredit Navalny as a western-backed traitor. After Navalny’s 2020 poisoning, Putin’s spokesman, Dmitry Peskov, said that “experts from the United States’ Central Intelligence Agency are working with him”. The Russian state claimed that, rather than a patriot exposing official malfeasance with a view to strengthening his country, Navalny was a CIA stooge intent on destroying Russia.
Peskov provided no evidence to back up this claim – and the official propaganda wasn’t believed by all. Thousands of Russians defied the authorities by coming out to pay their respects at Navalny’s funeral on March 1 2024. Many, if not all, knew this was a significant risk. Police employed video footage to track down members of the funeral crowd, including by using facial recognition technology.
The first person to be detained was a Muscovite the police claimed they heard shouting “Glory to the heroes!” – a traditional Ukrainian response to the declaration “Glory to Ukraine!”, but this time referencing Navalny. She spent a night in a police station before being fined for “displaying a banned symbol”.
Putin always avoided mentioning Navalny’s name in public while he was alive – instead referring to him as “this gentleman”, “the character you mentioned”, or the “Berlin patient”. (The only recorded instance of Putin using Navalny’s name in public when he was alive was in 2013.)
However, having been re-elected president in 2024 and with Navalny dead, Putin finally broke his long-held practice, saying: “As for Navalny, yes he passed away – this is always a sad event.” It was as if the death of his nemesis diminished the potency of his name – and the challenge that Navalny had long presented to Putin.
Nobody can become another Navalny
Someone else will rise up and take my place. I haven’t done anything unique or difficult. Anyone could do what I’ve done.
So wrote Navalny in the memoir published after his death. But that hasn’t happened: no Navalny 2.0 has yet emerged. And it’s no real surprise. The Kremlin has taken clear steps to ensure nobody can become another Navalny within Russia.
In 2021, the authorities made a clear decision to destroy Navalny’s organisations within Russia, including the ACF and his regional network. Without the organisational infrastructure and legal ability to function in Russia, no figure has been able to take his place directly.
More broadly, the fate of Navalny and his movement has had a chilling effect on the opposition landscape. So too have other steps taken by the authorities.
Russia has become markedly more repressive since the start of its war on Ukraine. The human rights NGO First Department looked into the number of cases relating to “treason”, “espionage” and “confidential cooperation with a foreign state” since Russia introduced the current version of its criminal code in 1997. Of the more than 1,000 cases, 792 – the vast majority – were initiated following Russia’s full-scale invasion of Ukraine in 2022.
Russian law enforcement has also used nebulous anti-extremism and anti-terrorism legislation to crack down on dissenting voices. Three of Navalny’s lawyers were sentenced in January 2025 for participating in an “extremist organisation”, as the ACF was designated by a Moscow court in June 2021. The Russian legislature has also passed a barrage of legislation relating to so-called “foreign agents”, to tarnish the work of those the regime regards as foreign-backed “fifth columnists”.
Mass street protests are largely a thing of the past in Russia. Restrictions were placed on public gatherings during the COVID pandemic – but these rules were applied selectively, with opposition individuals and groups being targeted. And opportunities for collective action were further reduced following the full-scale invasion of Ukraine.
Freedom of speech has also come under assault. Article 29, point five of the Russian constitution states: “Censorship shall be prohibited.” But in September 2024, Kremlin spokesperson Peskov said: “In the state of war that we are in, restrictions are justified, and censorship is justified.”
Legislation passed very soon after the 2022 invasion of Ukraine made it illegal to comment on the Russian military’s activities truthfully – and even to call the war a war.
YouTube – the platform so central to Navalny’s ability to spread his message – has been targeted. Without banning it outright – perhaps afraid of the public backlash this might cause – the Russian state media regulator, Roskomnadzor, has slowed down internet traffic to the site within Russia. The result has been a move of users to other websites supporting video content, including VKontakte – a Russian social media platform.
In short, conditions in Russia are very different now compared to when Navalny first emerged. The relative freedom of the 2000s and 2010s gave him the space to challenge the corruption and authoritarianism of an evolving system headed by Putin. But this space has shrunk over time, to the point where no room remains for a figure like him within Russia.
In 2019, Navalny told Ivan Zhdanov, who is now director of the ACF: “We changed the regime, but not in the way we wanted.” So, did Navalny and his team push the Kremlin to become more authoritarian – making it not only intolerant of him but also any possible successor?
There may be some truth in this. And yet, the drastic steps taken by the regime following the start of the war on Ukraine suggest there were other, even more significant factors that have laid bare the violent nature of Putin’s personal autocracy – and the president’s disdain for dissenters.
Plenty for Russians to be angry about
How can we win the war when dedushka [grandpa] is a moron?
In June 2023, Evgeny Prigozhin – a long-time associate of Putin and head of the private military Wagner Group – staged an armed rebellion, marching his forces on the Russian capital. This was not a full-blown political movement against Putin. But the target of Prigozhin’s invective against Russia’s military leadership had become increasingly blurry, testing the taboo of direct criticism of the president – who is sometimes referred to, disparagingly, as “grandpa” in Russia.
And Prigozhin paid the price. In August 2023, he was killed when the private jet he was flying in crashed after an explosion on board. Afterwards, Putin referred to Prigozhin as a “talented person” who “made serious mistakes in life”.
In the west, opposition to the Kremlin is often associated with more liberal figures like Navalny. Yet the most consequential domestic challenge to Putin’s rule came from a very different part of the ideological spectrum – a figure in Prigozhin leading a segment of Russian society that wanted the Kremlin to prosecute its war on Ukraine even more aggressively.
Video: BBC.
Today, there is plenty for Russians to be angry about, and Putin knows it. He recently acknowledged an “overheating of the economy”. This has resulted in high inflation, in part due to all the resources being channelled into supporting the war effort. Such cost-of-living concerns weigh more heavily than the war on the minds of most Russians.
A favourite talking point of the Kremlin is how Putin imposed order in Russia following the “wild 1990s” – characterised by economic turbulence and symbolised by then-president Boris Yeltsin’s public drunkenness. Many Russians attribute the stability and rise in living standards they experienced in the 2000s with Putin’s rule – and thank him for it by providing support for his continued leadership.
The current economic problems are an acute worry for the Kremlin because they jeopardise this basic social contract struck with the Russian people. In fact, one way the Kremlin tried to discredit Navalny was by comparing him with Yeltsin, suggesting he posed the same threats as a failed reformer. In his memoir, Navalny concedes that “few things get under my skin more”.
Although originally a fan of Yeltsin, Navalny became an ardent critic. His argument was that Yeltsin and those around him squandered the opportunity to make Russia a “normal” European country.
Navalny also wanted Russians to feel entitled to more. Rather than be content with their relative living standards compared with the early post-Soviet period, he encouraged them to imagine the level of wealth citizens could enjoy based on Russia’s extraordinary resources – but with the rule of law, less corruption, and real democratic processes.
‘Think of other possible Russias’
When looking at forms of criticism and dissent in Russia today, we need to distinguish between anti-war, anti-government, and anti-Putin activities.
Despite the risk of harsh consequences, there are daily forms of anti-war resistance, including arson attacks on military enlistment offices. Some are orchestrated from Ukraine, with Russians blackmailed into acting. But other cases are likely to be forms of domestic resistance.
Criticism of the government is still sometimes possible, largely because Russia has a “dual executive” system, consisting of a prime minister and presidency. This allows the much more powerful presidency to deflect blame to the government when things go wrong.
There are nominal opposition parties in Russia – sometimes referred to as the “systemic opposition”, because they are loyal to the Kremlin and therefore tolerated by the system. Within the State Duma, these parties often criticise particular government ministries for apparent failings. But they rarely, if ever, now dare criticise Putin directly.
Nothing anywhere close to the challenge presented by Navalny appears on the horizon in Russia – at either end of the political spectrum. But the presence of clear popular grievances, and the existence of organisations (albeit not Navalny’s) that could channel this anger should the Kremlin’s grip loosen, mean we cannot write off all opposition in Russia.
Navalny’s wife, Yulia, has vowed to continue her husband’s work. And his team in exile maintain focus on elite corruption in Russia, now from their base in Vilnius, Lithuania. The ACF’s most recent investigation is on Igor Sechin, CEO of the oil company Rosneft.
But some have argued this work is no longer as relevant as it was. Sam Greene, professor in Russian politics at King’s College London, captured this doubt in a recent Substack post:
[T]here is a palpable sense that these sorts of investigations may not be relevant to as many people as they used to be, given everything that has transpired since the mid-2010s, when they were the bread and butter of the Anti-Corruption Foundation. Some … have gone as far as to suggest that they have become effectively meaningless … and thus that Team Navalny should move on.
Navalny’s team are understandably irritated by suggestions they’re no longer as effective as they once were. But it’s important to note that this criticism has often been sharpest within Russia’s liberal opposition. The ACF has been rocked, for example, by recent accusations from Maxim Katz, one such liberal opposition figure, that the organisation helped “launder the reputations” of two former bank owners. In their response, posted on YouTube, the ACF referred to Katz’s accusations as “lies” – but this continued squabbling has left some Russians feeling “disillusioned and unrepresented”.
So, what will Navalny’s long-term legacy be? Patriot includes a revealing section on Mikhail Gorbachev – the last leader of the Soviet Union, whom Navalny describes as “unpopular in Russia, and also in our family”. He continues:
Usually, when you tell foreigners this, they are very surprised, because Gorbachev is thought of as the person who gave Eastern Europe back its freedom and thanks to whom Germany was reunited. Of course, that is true … but within Russia and the USSR he was not particularly liked.
At the moment, there is a similar split in perceptions of Navalny. Internationally, he was nominated for the Nobel Peace Prize, awarded the Sakharov Prize by the European Parliament, and a documentary about him won an Oscar.
But there are also those outside of Russia who remain critical: “Navalny’s life has brought no benefit to the Ukrainian victory; instead, he has caused considerable harm,” wrote one Ukrainian academic. “He fuelled the illusion in the west that democracy in Russia is possible.”
Trailer for the Oscar-winning documentary Navalny.
Inside Russia, according to Levada Center polling shortly after his death, 53% of Russians thought Navalny played “no special role” in the history of the country, while 19% said he played a “rather negative” role. Revealingly, when commenting on Navalny’s death, one man in Moscow told RFE/RL’s Russian Service: “I think that everyone who is against Russia is guilty, even if they are right.”
But, for a small minority in Russia, Navalny will go down as a messiah-like figure who miraculously cheated death in 2020, then made the ultimate sacrifice in his battle of good and evil with the Kremlin. This view may have been reinforced by Navalny’s increasing openness about his Christian faith.
Ultimately, Navalny’s long-term status in Russia will depend on the nature of the political system after Putin has gone. Since it seems likely that authoritarianism will outlast Putin, a more favourable official story about Navalny is unlikely to emerge any time soon. However, how any post-Putin regime tries to make sense of Navalny’s legacy will tell us a lot about that regime.
While he was alive, Navalny stood for the freer Russia in which he had emerged as a leading opposition figure – and also what he called the “Beautiful Russia of the Future”. Perhaps, after his death, his lasting legacy in Russia remains the ability for some to think – if only in private – of other possible Russias.
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Ben Noble has previously received funding from the British Academy and the Leverhulme Trust. He is an Associate Fellow of Chatham House.
In December 2024, the Home Secretary announced the introduction of a new Independent Prevent Commissioner role. In January 2025, Lord David Anderson KC was confirmed as the Interim Prevent Commissioner until the appointment of a permanent holder. The commissioner will have the specific remit of reviewing the programme’s effectiveness, identifying gaps and problems before they emerge. The appointment will be announced in due course.
The Commission for Countering Extremism (CCE) provides the government with independent expert advice on extremism, with the current commissioner, Robin Simcox’s fixed term due to end in July. He has held the appointment since March 2021, first in an interim capacity, then on a substantive basis since July 2022. The appointment of a new commissioner will also be announced in due course.
The role of Independent Adviser on Political Violence and Disruption, previously held by Lord Walney, will come to an end. The CCE will take forward work as part of its new strengthened remit.
Security Minister, Dan Jarvis, said:
To continue our fight against extremism and terrorism in whatever form they take we need expert advice and oversight. The role holders will be crucial in those efforts, and I look forward to working with the successful candidates.
I would also like to thank Lord Walney and Robin Simcox for their work in their respective roles as Independent Advisor on Political Violence and Disruption and as Commissioner for Countering Extremism.
WASHINGTON—This week, Idaho Congressman Mike Simpson wrote an op-ed in the Washington Reporter regarding his upcoming priorities as Chairman of the House Interior and Environment Appropriations Subcommittee. “I spent the last four years fighting against the Biden administration’s job-killing regulatory overreach and disastrous policies. Now, instead of simply pushing back, the Interior subcommittee is focused on strengthening and promoting domestic energy production, investing in Indian Country, reining in the EPA, expanding access to critical minerals, and ensuring that land management agencies have the tools to manage our lands effectively and efficiently—just to name a few.” The full op-ed is available here and below. Laying Out My Priorities as Chairman of the House Interior and Environment Appropriations Subcommittee By Rep. Mike Simpson After the decisive mandate from the American people last November, it should come as no surprise that Republicans are hitting the ground running. As the 119th Congress gets underway, we are laying out our priorities, building on past successes, and advancing the policies that matter most to our constituents. Returning as Chairman of the House Interior, Environment, and Related Agencies Appropriations Subcommittee is a true honor. While I take great pride in the work our subcommittee accomplished last Congress, we’ve got our work cut out for us. The House Appropriations Committee’s Fiscal Year 2025 process prioritized cuts to wasteful spending and refocused the government on its core responsibilities. I spent the last four years fighting against the Biden administration’s job-killing regulatory overreach and disastrous policies. Now, instead of simply pushing back, the Interior subcommittee is focused on strengthening and promoting domestic energy production, investing in Indian Country, reining in the EPA, expanding access to critical minerals, and ensuring that land management agencies have the tools to manage our lands effectively and efficiently—just to name a few. The Interior subcommittee oversees funding for public land agencies important to my home state of Idaho and other Western states, such as the Forest Service, the Bureau of Land Management (BLM), the Fish and Wildlife Service, and the National Parks Service, among others. As Chairman, I am in a position to directly influence federal policies that directly impact Idaho and the West. I look forward to bringing Idaho’s perspective to issues like the Endangered Species Act, continued access to our public lands, and forest management. Nearly two-thirds of Idaho is federal land, which means our public land management policies directly impact our state’s economy and the lives of Idahoans who live, work, and recreate on or near federal land. This is why I will continue to use my position to ensure the federal land management agencies are good neighbors. I also plan to work directly with the Trump administration to protect critical programs vital to states and local communities, such as fully funding Payments in Lieu of Taxes (PILT)—a lifeline for our rural communities. Additionally, while the Fiscal Year 2025 House Interior Bill permanently increased pay for our brave federal wildland firefighters, we still need to get this across the finish line. The provisions included in the bill will improve firefighter recruitment and retention and provide financial certainty to the men and women protecting our communities from catastrophic wildfire. I look forward to working with the administration to make this a reality. Another critical area where we will make significant strides is energy policy. Our mandate from the American people is clear: We must unleash American-made energy and return to energy independence. Under President Trump, the United States achieved energy independence for the first time in 70 years—an accomplishment we are determined to restore. By securing our energy supply chain and ending reliance on foreign adversaries, we will not only strengthen our national security but also help lower costs for American families. President Trump’s pick for Secretary of the Interior and America’s ‘energy czar’ Doug Burgum, has made it clear that he intends to achieve domestic energy dominance, making life affordable for American families nationwide, and driving down inflation. I look forward to working with Secretary Burgum as we slash burdensome regulations, strengthen national security, and promote American values through President Trump’s agenda. American energy leadership is back. As Congress and the White House align to revive the conservative values that the American people voted for, I remain committed to working with my colleagues and the Trump administration to rein in unnecessary spending and restore fiscal responsibility to get our economy back on track. We have a lot of work to do, but this is the time to hit the ground running and deliver results for all Americans. Together, we can restore American strength, safeguard our natural resources, and ensure that our communities remain resilient for generations to come.
“It is so beautiful to see a movie that is cinema,” gushed Mexican director Guillermo del Toro. Another Mexican filmmaker, Issa López, who directed “True Detective: Night Country,” called it a “masterpiece,” adding that Audiard portrayed issues of gender and violence in Latin America “better than any Mexican facing this issue at this time.”
The film is a musical about a Mexican drug lord named Manitas del Monte, played by trans actress Karla Sofía Gascón. Del Monte hires a lawyer to facilitate her long-awaited gender transition. After her surgery, she fakes her death with her lawyer’s help and sends her wife, Jessi, played by Selena Gómez, and their children to Switzerland. Four years later, Manitas – now known as Emilia Pérez – tries to reunite with her family by posing as Manitas’ distant cousin.
So why is it bombing among Mexican moviegoers?
Modest research into a ‘modest’ language
As a scholar of gender and sexuality in Latin America, I study LGBTQ+ representation in media, particularly in Mexico. So it’s been interesting to follow the negative reaction to a film that critics claim has broken new ground in exploring themes of gender, sexuality and violence in Mexico.
Many of the film’s perceived errors seem self-inflicted.
Audiard admitted that he didn’t do much research on Mexico before and during the filming process. And even though he doesn’t speak Spanish, he chose to use a Spanish script and film the movie in Spanish.
The director told French media outlet Konbini that he chose to make the film in Spanish because it is a language “of modest countries, developing countries, of poor people and migrants.”
Not surprisingly, an early critique of the film centered on its Spanish: It uses some Mexican slang words, but they’re spoken in ways that sound unnatural to native speakers. Then there’s the film’s overreliance on clichés that border on racism, perhaps most egregiously when Emilia’s child sings that she smells of “mezcal and guacamole.”
Of course, an artist need not belong to a culture in order to depict or explore it in their work. Filmmakers like Sergei Eisenstein and Luis Buñuel became renowned figures in Mexican cinema despite being born in Latvia and Spain, respectively.
When choosing to explore sensitive topics, however, it is important to take into account the perspective of those being portrayed, both for accuracy’s sake and as a form of respect. Take Martin Scorsese’s “Killers of the Flower Moon.” The director collaborated with members of the Osage nation to further the film’s historical and cultural accuracy.
Glossing over the nuance
“Emilia Pérez” centers on how violence stems from the corruption prevalent in Mexico. Multiple musical numbers denounce the collusion between authorities and criminals.
This is certainly true. But to many Mexicans, it feels like an oversimplification of the issue.
The film fails to acknowledge the confluence of factors behind the country’s violence, such as U.S. demand for illegal drugs stemming from its opioid crisis, or the role that American guns play in Mexico’s violence.
Professor and journalist Oswaldo Zavala, who has written extensively about Mexican cartels, argues that the film perpetuates the idea that Latin American countries are solely to blame for the violence of drug trafficking. Furthermore, Zavala contends that this perspective reinforces the narrative that the U.S.-Mexico border needs to be militarized.
The musical features few male characters; the ones who do appear are invariably violent, and this includes Manitas before undergoing their transition. The cruelty of Manitas contrasts with Emilia’s kindness: She helps the “madres buscadoras,” which are the Mexican collectives made up of mothers searching for missing loved ones presumed to be kidnapped or killed by organized crime. One of these collectives, Colectivo de Víctimas del 10 de Marzo, criticized the film for depicting groups like theirs as recipients of money from organized crime and beneficiaries of luxurious galas attended by politicians and celebrities.
Members of the Madres Buscadoras de Sonora search for the remains of missing persons on the outskirts of Hermosillo, a city in northwestern Mexico, in 2021. Alfred Estrella/AFP via Getty Images
Backlash on multiple fronts
These political and cultural blind spots have spurred a backlash among Mexican moviegoers.
When the movie premiered in Mexico in January 2025, it bombed at the box office, with some viewers demanding refunds. Mexico’s Federal Consumer Protection Agency had to intervene after the movie chain Cinépolis refused to honor its satisfaction-guarantee policy.
Trans content creator Camila Aurora playfully parodied “Emilia Pérez” in her short film “Johanne Sacrebleu.” In scenes filled with stereotypical French symbols such as croissants and berets, it tells the story of an heiress who falls in love with a member of her family’s business rivals.
While some viewers have nonetheless praised “Emilia Pérez” for its nuanced portrayal of trans women and the casting of a trans actress, the LGBTQ advocacy group GLAAD described it as “a step backward for trans representation.”
One point of contention is the musical number Emilia sings, “medio ella, medio él,” or “half she, half he,” which insinuates that trans people are stuck between two genders. The movie also seems to portray the character’s transition as a tool for deception.
A social media viper pit
Meanwhile, Gascón’s historic nominations as the first trans actress recognized by the Oscars and other awards have been overshadowed by her controversial statements.
She made headlines when she accused associates of Brazilian actress Fernanda Torres of disparaging her work. Torres is also an Oscar nominee for best actress.
The latest controversy began in late January 2025 when Gascón’s old social media posts resurfaced. The now-deleted messages included attacks on Muslims in Spain and a post calling co-star Selena Gómez a “rich rat,” which Gascón has denied writing.
“Emilia Pérez” is limping into the Oscars. Netflix and Audiard have distanced themselves from Gascón to try to preserve the film’s prospects at the annual Academy Awards ceremony.
It could be too little too late.
Alejandra Marquez Guajardo 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.
