Scheme Victimized Hundreds of Thousands of People in United States and Abroad
Two Estonian nationals pleaded guilty yesterday for their operation of a massive, multi-faceted cryptocurrency Ponzi scheme that victimized hundreds of thousands of people from across the world, including in the United States. As part of the defendants’ guilty pleas, they agreed to forfeit assets valued over $400 million obtained during the conspiracy.
According to court documents, Sergei Potapenko and Ivan Turõgin, both 40, sold contracts to customers entitling them to a share of cryptocurrency mined by the defendants’ purported cryptocurrency mining service, HashFlare. Cryptocurrency mining is the process of using computers to generate cryptocurrency, such as Bitcoin, for profit.
Between 2015 and 2019, Hashflare’s sales totaled more than $577 million, but HashFlare did not possess the requisite computing capacity to perform the vast majority of the mining the defendants told HashFlare customers it performed. HashFlare’s web-based dashboard, which purported to show customers their mining profits, instead reflected falsified data. Potapenko and Turõgin used the proceeds of the fraud conspiracy to purchase real estate and luxury vehicles and maintained investment and cryptocurrency accounts. Potapenko and Turõgin have agreed to forfeit assets worth, as of the date of the plea, more than $400 million. The forfeited assets will be available for a remission process to compensate victims of the crime. Details about the remission process will be announced at a later date.
Potapenko and Turõgin each pleaded guilty to one count of conspiracy to commit wire fraud. They are scheduled to be sentenced on May 8 and each face a maximum penalty of 20 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
The Justice Department thanks the Cybercrime Bureau of the Estonian Police and Border Guard for its support with this investigation. The Estonian Prosecutor General and Ministry of Justice and Digital Affairs provided substantial assistance with the extradition. The Justice Department’s Office of International Affairs provided extensive assistance to the investigation and the extradition of the defendants.
Supervisory Official Antoinette T. Bacon of the Justice Department’s Criminal Division, Acting U.S. Attorney Teal Luthy Miller for the Western District of Washington, Assistant Director Chad Yarbrough of the FBI’s Criminal Investigative Division, and Special Agent in Charge W. Mike Herrington of the FBI Seattle Field Office made the announcement.
The FBI Seattle Field Office investigated the case.
Trial Attorneys Adrienne E. Rosen and David Ginensky of the Criminal Division’s Money Laundering and Asset Recovery Section and Assistant U.S. Attorneys Andrew Friedman and Sok Jiang for the Western District of Washington are prosecuting the case. Assistant U.S. Attorney Jehiel Baer for the Western District of Washington is handling asset forfeiture aspects of the case.
Individuals who believe they may have been a victim in this case should visit www.fbi.gov/hashflare.
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.
Check against delivery.
1 Introduction
Ladies and gentlemen,
I am delighted to be here with you today. What better place than Glasgow to discuss the economic impacts of climate change and the green transition! And not just because it played host to the 2021 United Nations Climate Change Conference.
Glasgow is also where Adam Smith, the father of modern economics, studied and taught as a professor. Have you ever wondered what he would have thought of climate change? As a famed free-market economist, he might not be the first person you would think of. But even Adam Smith acknowledged that the invisible hand can sometimes lead to suboptimal outcomes.
Climate change is a prime example of this: market prices do not reflect the negative side effects of greenhouse gas emissions. Fortunately, it is now widely acknowledged that governments need to intervene and encourage individuals and companies to reduce their emissions.
Switching to a net-zero emissions economy is a major task. It requires changes in behaviour, innovation and significant investment to rebuild our capital stock. And this transition requires significant financing.
In my speech, I will explore what financing the transition to a greenhouse gas-neutral economy could look like. More specifically, I will focus on two key issues. First, how much investment is needed to achieve greenhouse gas neutrality, and how much of this investment is “additional”? Second, what could the financing mix to fund this investment look like?
I know that answering these questions seems like a tough challenge – a taughy fleece tae scoor. But I will do my best to illustrate my points with clear, practical examples. Along the way, I will discuss electric cars and heating systems to help us understand the issues.
My remarks will focus on the European Union (EU), borrowing some detailed insights from Germany. Unfortunately, these data do not cover the United Kingdom (UK). But I will do my best to infer some insights for the UK as well.
2 How much needs to be invested?
Let me start with the question of how much the EU needs to invest to achieve greenhouse gas neutrality. The EU’s Fit for 55 package aims to reduce greenhouse gas emissions by at least 55 per cent by 2030. These reductions are benchmarked against 1990 emission levels. This is an intermediate step towards full greenhouse gas neutrality, for which the EU still needs to pass legislation.
From 2021 to 2030, the European Commission estimates that EU countries need to invest over €1.2 trillion annually.[1] This amounts to nearly 8 per cent of the EU’s GDP. The private sector must take on the bulk of these investments. The investment needs are significantly more than the actual annual investment of €760 billion in the previous decade.
The European Commission defines the difference between the investment required and the actual investment as the “additional” investment need. This additional investment need amounts to €480 billion, or around 3 per cent of GDP.
This definition of “additional” investment is very useful from an accounting perspective. It gives a clear picture of how much more the EU needs to invest to meet its climate goals. However, from a financing perspective, it helps to define additional investment differently.
There are two types of investment needed to achieve greenhouse gas neutrality. The first type is investment that would not happen without the goal of reducing greenhouse gas emissions. A prime example of this type of investment is technology to capture and store carbon dioxide. This technology will play a crucial role in sectors that are difficult to decarbonise. These investments need economic resources and financing beyond what an economy spends just to maintain its capital stock.
The second type is investment where a greenhouse gas-neutral alternative replaces a fossil fuel-based technology. To illustrate this point, imagine two households buying a new car. The Jones family spend €45,000 on a new combustion engine car. From a technical perspective, the Jones family are making a replacement investment. No additional financing is needed. Meanwhile, the Smith family decide to switch from a combustion engine car to an electric vehicle. Let us say a comparable electric car costs €50,000. Of this amount, €45,000 is a replacement investment. Only the remaining €5,000 requires additional financing.
Contrast this with how the European Commission defines additional investment: They subtract the annual average value of electric cars bought in the past from the value of electric vehicles needed to meet the EU’s intermediate greenhouse gas reduction goals. Past registrations of electric vehicles fell significantly short of what is needed. Accordingly, the additional investments, as defined by the European Commission’s accounting perspective, are presumably much higher than the additional financing needs.
How great could the additional financing needs be? While we do not yet have specific figures for the EU, there are some numbers for Germany. A recent study estimates that Germany needs to invest around €390 billion annually from 2021 to 2030 to reduce emissions by 65 per cent compared to 1990.[2] They measure this absolute sum in 2020 prices. Relative to GDP, the investment amounts to 11 per cent.
This is fairly close to the 8 per cent investment needs calculated by the European Commission for the EU.[3] However, only around 30 per cent of this investment requires additional financing. In absolute terms, this amounts to about €120 billion.
Let me pause for a moment to summarise the two key takeaways from my remarks so far. First, the transition to greenhouse gas neutrality calls for significant investment. However, in many cases, we are replacing fossil-based technologies with greenhouse gas-neutral alternatives. Accordingly, the additional financing needs are much smaller and seem manageable.
Second, we can minimise the additional financing needs by replacing already largely depreciated capital stock. By contrast, replacing relatively new capital stock that has barely depreciated would increase the economic and financial costs. Let me illustrate this point with a brief anecdote.
On 1 January 2024, the German government introduced a new law governing heating systems. In German, it is known by the beautiful name “Gebäudeenergiegesetz”. This law mandates that heating systems use around two-thirds renewable energy. In anticipation of this new law, many households replaced their old gas heating systems with new ones. These heating systems can run for around 25 years, so they depreciate over a long period.
Bad luck if you just installed a new gas heating system and live in the German city of Mannheim. Here, the local gas provider has said it intends to stop its services in 2035. This means that a long-term investment will become unviable when little more than half of it has depreciated: A waste of both financial and economic resources.
This anecdote highlights one key point: to avoid wasting money, we need a clear and reliable path to greenhouse gas neutrality. With a clear path mapped out, people can confidently invest in the transition.
3 What could the financing mix look like?
Now, let us explore what the potential financing mix could look like. To achieve a greenhouse gas-neutral economy, households, firms and the public sector all need to invest. They can fund these investments using both internal and external sources.
As the name would suggest, internal financing comes from within. Like the Smith family putting aside some of their income to pay for their new car. Or think of a firm that sells its products and saves some of the profits. That is internal financing, too. External financing, on the other hand, comes from outside sources such as banks or investors.
Regarding their financing mix, households, non-financial firms and the public sector differ considerably. Households tend to save significantly and mainly use bank loans as a source of external finance. The public sector, on the other hand, raises most of its funds from external sources by issuing debt securities. Only firms have a more diversified financing mix. Equity and bank loans play prominent roles here. Note that these observations hold for the EU, the UK and Germany alike.
So, what might the financing mix for the transition to a greenhouse gas-neutral economy look like? To estimate these figures, we need two key components: First, the respective shares of households, firms and the public sector in total investment. According to rough estimates by Bundesbank staff for Germany, households might have to cover about one-third of the investment, the public sector around 20 per cent, and firms just under half.[4]
Second, estimates for the future financing structure of the sectors. We assume that future financing structures will remain unchanged from today.[5] This implies that past financing structures are suitable for future climate investment. If this were not the case, perhaps due to the need for innovative financing instruments, the financing structure may differ.
What result do we get when we combine the two components? For Germany, we estimate that about 20 per cent of the financing mix could come from internal financing, primarily household savings. In terms of external financing, bank loans might play the largest role. They account for over one-quarter of the estimated financing mix. Households in particular obtain almost all their external financing from banks.
The second-largest external financing source could be debt securities, accounting for around 20 per cent. The public sector plays a prominent role here, with funding coming almost exclusively from bonds. Finally, the third-largest external financing source could be equity financing, comprising around one-sixth. Firms are the only users of this financing source, as households and the public sector do not issue equity. Different instruments, like loans from non-bank financial intermediaries, might cover the final sixth of the overall investment needs.
So, what does this mean for the EU and the UK? Can the findings for Germany be generalised? Fortunately, the financing structures of households, firms and governments are largely comparable across these regions.[6] Therefore, one of the two components in the calculations is roughly equal.
The second component – the sectoral investment needs – is less certain. I am not aware of any studies for the EU or the UK that divide the investment needs across households, firms and the public sector.[7] Without a better alternative, the findings for Germany may provide a reasonable initial estimate for both the EU and the UK.
4 Concluding remarks
Let me summarise and conclude. I have three main takeaways to share.
First, “additional” investment needs to become greenhouse gas-neutral can also be defined from a financing perspective. In many cases, we are replacing fossil fuel-based technologies with greenhouse gas-neutral alternatives. And this requires additional financing only if greenhouse gas-neutral technologies are more expensive or if the capital stock being replaced is not yet fully depreciated. The additional financing needs are significantly smaller than the total investment required. Accordingly, I am confident that our financial system can mobilise the necessary financing.
Second, banks may play a larger role in financing the climate transition than is commonly anticipated. The main reason for this conclusion is that a substantial portion of climate investments falls on households. They need to make their homes more energy-efficient and replace fossil-fuelled heating systems with greenhouse gas-neutral alternatives. And households simply do not have many viable alternatives to bank loans.
Accordingly, a robust banking system is essential for achieving greenhouse gas neutrality. That is why we at the Bundesbank are committed to completing the European banking union. However, we also need to improve access to alternative financing sources. Non-financial firms, in particular, would greatly benefit from better capital market financing. That is why we at the Bundesbank are dedicated to creating a European capital markets union.
Third, legislators can minimise the additional financing needs by ensuring that the path to greenhouse gas neutrality is planned stringently and for the long term. Why? Because it provides incentives to avoid investments in fossil fuel technologies that may not be fully depreciated before they become non-viable.
Footnotes:
See European Commission (2023), Investment needs assessment and funding availabilities to strengthen EU’s Net-Zero technology manufacturing capacity, SWD (2023) 68 final.
Kemmler et al. (2024), Klimaschutzinvestitionen für die Transformation des Energiesystems, Prognos. This study is only available in German.
One reason why Germany’s investment needs relative to GDP are higher than the EU’s is that Germany intends to achieve greenhouse gas neutrality sooner (in 2045 rather than 2050).
The estimates are based on the public sector shares provided in Brand and Römer (2022), Öffentliche Investitionsbedarfe zur Erreichung der Klimaneutralität in Deutschland, KfW Research – Fokus Volkswirtschaft, Nr. 395 and various plausibility assumptions. The analysis assumes that the public sector’s involvement in industry and the residential investment sector is minimal or non-existent. This is because the analysis looks at financing flows before any government support, such as subsidies.
More precisely, the financing structure is derived from the average internal and external financing flows over the period 2018 to 2022. This averaging smooths out short-term fluctuations and centres on the reference year of 2020 used in the Kemmler et al (2024) study. Internal financing enters the calculation on a net basis, assuming that the depreciation inflows finance the replacement investments.
In the EU and UK, households rely slightly less on bank loans than in Germany, but the share is still high. In the public sector, Germany has a significantly higher share of debt security financing, particularly compared to the EU. In the UK, non-financial firms have a significantly lower share of equity financing and a higher share of (bank) loans compared to Germany. In contrast, in the EU, non-financial firms have a slightly higher share of equity financing and a smaller share of (bank) loans compared to Germany. All figures are based on average financial flows from 2018 to 2022.
European Commission, op. cit., estimates that, in the EU, the public sector could account for 17 to 20 per cent of total investment. However, it does not clarify how this investment will be split between households and firms. For the UK, HM Government (2023), Mobilising Green Investment – 2023 Green Finance Strategy, mentions that most investment must come from the private sector. However, it likewise does not provide any details on how this investment will be split between households and firms.
Lifesaving aid continued to reach Gaza on Thursday while UN humanitarians warned that needs remain enormous after 15 months of constant Israeli bombardment.
Amid reports that a return to full-scale war at the weekend may have been averted with the announcement by Hamas that it would comply with the agreed release of Israeli hostages, the UN Office for the Coordination of Humanitarian Affairs (OCHA) said that aid teams were “seizing every opportunity” to deliver as much relief as possible to Gazans in dire need.
Speaking from northern Gaza, OCHA’s René Nijenhuis said that families’ main concern was that the ceasefire holds.
He explained that the fragile truce had allowed aid teams to get water trucks and reach people in “desperate need of assistance. They need shelter, they need schooling,” Mr. Nijenhuis said. Children are pleading: “Where’s my school? I want to go to school,” the OCHA officer added.
Truck lifeline
Thousands of trucks carrying food, shelter and medicines have entered the Gaza Strip at a rate of around 600 a day since the ceasefire began on 19 January – far more than those allowed during the hostilities that were sparked by the Hamas-led terror attacks on southern Israel of 7 October 2023.
On Wednesday alone, more than 800 trucks delivered life-saving goods into Gaza, OCHA said, while the UN agency for Palestine refugees, UNRWA, said that it has now reached 1.5 million people with food parcels since the start of the ceasefire – and has enough coming to reach the rest of Gaza’s population.
Since Israeli forces withdrew from parts of the Netzarim corridor that separates north and south Gaza, more than 586,000 people are estimated to have crossed to the north, while over 56,000 were estimated to have moved southward, UN humanitarians reported.
Two million in need
Despite the massive aid boost, it is still not enough to provide the immediate relief that more than two million Gazans require. This will only happen when commercial goods begin to flow into the Strip once again, humanitarians have said repeatedly, including the UN Children’s Fund (UNICEF).
“A lot of aid has come in. We have scaled up as fast as we possibly could over the last three weeks of this ceasefire, but of course we cannot undo 15 months of suffering in three weeks,” said UNICEF Communications Manager Tess Ingam, speaking to UN News.
“There needs to be much more aid consistently coming in; also need commercial goods to come in so that markets can be stocked. We need the cash sector and the banking sector to restart again so that people can buy those commercial goods. There’s a lot that needs to happen fast to help resume a functioning goods society in the Gaza Strip.”
UNICEF also warned that its teams cannot quickly repair the damage done by the damage caused by the Israeli military’s use of heavy weapons and high explosives across Gaza.
Basic public services have been smashed and require equipment that is still not being allowed to enter the enclave.
“We need to make sure that certain items that are currently restricted for entry to Gaza are able to enter, for example, pipes for the repair of water systems, generators to run water pumps,” Ms. Ingam said, shortly after finishing a two-week assessment mission in the enclave.
Live fire threat
“UNICEF needs this ceasefire to hold as much for us as for the children of Gaza,” she insisted. “Like all humanitarian actors, we are able to do our best work to save the lives of children and provide them with protection and support when we’re not operating in live fire.”
Speaking exclusively to UN News, Ms. Ingam said that the agency’s three priorities were providing water, boosting healthcare and nutrition and helping people withstand the cold.
“We’re focused on making sure that water flows again, particularly in the areas where water has been really badly damaged, pipes have been damaged, wells have been damaged in the north and in Rafah, so we’re trying to bring water back by doing repairs and also starting water trucking so families have immediate access to water.”
UNRWA’s vital role
Key to the humanitarian response across Gaza, UNRWA runs 120 shelters which host around 120,000 people. It has also opened 37 new emergency shelters, including seven in Gaza City and 30 in North Gaza, and on Thursday announced the reopening of a health centre in Rafah – the first UNRWA facility in the southern city to receive patients since the ceasefire.
The agency said that while the risk of famine has mostly been averted, another immediate priority is providing shelter and warmth to people returning to their shattered homes.
Since the ceasefire came began, 644,000 people have received shelter assistance, UNRWA said, specifically tents, blankets, plastic sheeting, warm winter clothing, sealing-off materials and tarpaulins.
In and around the shelters, the UN agency has also committed to repairing water wells and to provide water and waste disposal services to close to half a million people.
In addition to shelter and food deliveries, healthcare assistance and medical supplies have also increased, too.
Health needs being met
According to the head of the UN World Health Organization (WHO), Tedros Adhanom Ghebreyesus, the organization has assisted with the medical evacuation of 414 patients requiring treatment outside Gaza. WHO has also delivered supplies for 1.6 million people since the start of the ceasefire, he said.
The UN sexual and reproductive health agency, UNFPA, meanwhile, reported the increased distribution of relief items including infant warmers, postpartum and dignity kits. The UN agency has also established a new shelter for women inside Gaza City to provide safety from gender-based violence.
In anticipation of possible power cuts, the shelter can run on solar power.
Between 7 October 2023 and 11 February 2025, the Gazan authorities reported that at least 48,219 Palestinians have reportedly been killed in Gaza and 111,665 have been injured. Some 1,250 people were killed in the Hamas-led attacks and more than 250 were taken hostage.
Source: United Nations Economic Commission for Europe
In the fight against climate change, emissions of methane – which has a warming effect over 80 times greater than CO2 over a 20-year timeframe – from coal mines remain a significant source of greenhouse gases (GHG). Coal mines account for over 10% of methane emissions from human activity. As long as coal’s share in the global energy mix remains significant, mitigating large emissions associated with its extraction presents an under-exploited and under-capitalized opportunity to deliver near-term GHG emissions cuts.
Gassy underground coal mines employ large-scale ventilation systems that pump fresh air into the workings to dilute and remove methane released during mining operations. This ventilation air, discharged through dedicated (ventilation) shafts, contains methane in concentrations typically ranging from 0.1% to 1.0% by volume, known as Ventilation Air Methane (VAM). While removing methane from the mine is necessary for maintaining safe underground working conditions, the continuous discharges of large volumes of VAM constitute a significant source of greenhouse gas emissions.
A new UNECE report developed by the UNECE Group of Experts on Coal Mine Methane and Just Transition sheds light on the urgency of tackling VAM emissions. A single ventilation shaft in an operating coal mine can expel up to 50,000 tonnes of methane annually – equivalent to the emissions (CO2e) generated by 2 million cars. Since coal mines are expected to continue to operate for at least the next two decades, reducing these emissions presents an immediate and effective way to slow down climate change, complementing scaled-up decarbonization efforts.
The report “Best Practice Guidance on Ventilation Air Methane Mitigation” highlights the cost-effectiveness of VAM mitigation. Advanced technologies, such as Regenerative Thermal Oxidation (RTO), have been successfully deployed in large-scale, long-term projects, proving the technical viability of VAM mitigation. RTO installations are actively reducing methane emissions at coal mines in the United States and China. For such projects to be economically sustainable, the value of emission reductions must reach approximately USD 20 per tonne of CO2e – an economically feasible target when compared to other climate mitigation efforts.
The cost of a VAM mitigation plant is all about the volume of air being processed, and therefore the methane content in the ventilation air to be processed is a key factor determining the revenue and thus also the economic viability of the plant. A plant processing VAM concentration of 0.2% will have a total cost per mitigated tCO2e around USD $20. Where such mechanisms exist, this cost could be balanced by Carbon Emission Reduction Credits, or by avoided emissions penalty.
Despite its potential, VAM mitigation faces technical challenges. Methane concentrations in ventilation air are often very low, and mine shafts release vast volumes of air. The report emphasizes that only one technology, RTO, has consistently reduced methane emissions from coal mines, though other catalytic processes are emerging.
The report aligns with global efforts to address methane emissions, including the Paris Agreement and the Global Methane Pledge, which aims to cut methane emissions by 30% by 2030. In this context, VAM mitigation could play a key role in achieving these ambitious objectives.
This Best Practice Guidance on VAM serves as a call to action for the mining industry and policymakers, underscoring the significant potential of VAM mitigation as a cost-effective solution to reduce emissions.
The report provides practical guidance on securing financial support, assessing the feasibility of VAM mitigation plants, and understanding the key aspects of technology integration. It also offers a clear 8-step model for preparing potential VAM projects, making this complex topic accessible and actionable.
In addition to the Best Practice Guidance, the UNECE Group of Experts on Coal Mine Methane and Just Transition – through its Task Force on Methane Emissions Reduction – has developed complementary resources to further support methane monitoring and mitigation efforts. These include:
Template for Estimating Emissions from Underground Coal Mines – A user-friendly tool designed to improve emissions data collection for policymakers and companies. This template streamlines the tracking of methane emissions, destruction, and off-site transportation, and accounts for avoided methane emissions and CO2 emissions resulting from these processes.
Join the Discussion at the UNECE Resource Management Week 2025
The UNECE Resource Management Week 2025 (24–28 March, Geneva), and particularly the meeting of the Group of Experts on Coal Mine Methane and Just Transition, will provide a platform to discuss methane mitigation strategies, including the VAM Best Practice Guidance, which will be presented for endorsement.
Bringing together policymakers, industry representatives, and experts, the event will facilitate discussions on innovative solutions, financing mechanisms, and regulatory approaches to support methane emission reductions.
VANCOUVER, British Columbia and DUBAI, United Arab Emirates, Feb. 13, 2025 (GLOBE NEWSWIRE) — Legible Inc. (CSE: READ) (OTCQB: LEBGF) (FSE: D0T). On Wednesday, February 12, 2024 (“Legible” / “Company”), and CAMB.AI Ltd. (“CAMB.AI”), signed an agreement to enhance the digital reading experience, leveraging artificial intelligence (“AI”) on demand to instantly convert millions of eBooks into high-quality audiobooks in over 160 languages. This accessibility tool is poised to unlock global markets, delivering previously unavailable content to readers around the world.
With millions of eBooks available across all genres, this collaboration represents an extraordinary market opportunity—hundreds of millions of hours of potential audiobook content available to readers anytime, anywhere as seamless reading and listening experiences, —enabling publishers and authors to reach international audiences with new speed, efficiency, and savings. CAMB.AI’s AI-driven voice localization and instant translation technologies will be integrated into Legible’s platform, enhancing the accessibility and commercial viability of every eBook.
“This is an exciting development in accessibility for books,” said Kaleeg Hainsworth, CEO of Legible. “By partnering with CAMB.AI, we’re enabling publishers and authors to create high-quality, multilingual audiobooks faster and more affordably than ever before. With this integration, books on our platform can reach new markets in multiple languages faster than ever before and can do so across any device, expanding access and revenue potential globally.”
This AI-driven solution will be commercialized as a premium add-on to Legible’s subscription service, and also accessible via Legible’s apps, browser-based platform, and in-car infotainment systems, with revenues and savings being directly passed on to publishers and authors. This ensures a truly international accessibility offering, enhancing the reading experience for users worldwide.
User Journey & Offering:
Instant toggling between eBook text and audiobook mode.
AI-powered voice synthesis delivering narration in over 160 languages.
Publishers retain full control, ensuring opt-in participation without disruption.
Traditional audiobook production costs can be substantially reduced while maintaining professional quality including tone and intonation.
Voice actors can license their voices for AI-generated narrations, ensuring fair compensation and ethical AI integration.
“Legible’s vision aligns perfectly with our mission to eliminate language barriers and promote global literacy,” said Akshat Prakash, CTO & Co-Founder of CAMB.AI. “Our proprietary AI models enable publishers and content creators to instantly translate their works into multiple languages, reaching wider audiences on an unprecedented scale via Legible’s platform.”
By drastically lowering audiobook production costs for multiple language audiences, while maintaining voice quality, this partnership removes long-standing barriers in the publishing industry. Authors and publishers can now reach international markets in record time, tapping into new revenue potential.
Legible and CAMB.AI are committed to ethical AI use, ensuring publishers and voice actors retain full control in this ecosystem. This guarantees creative integrity, fair compensation practices, and a sustainable model for the future of publishing.
About CAMB.AI Established in 2022, CAMB.AI leads content localization with a five-year foundation in advanced AI research in speech and translation. Our team comprises AI experts from top level companies and institutions. We’ve pioneered the zero-shot AI Dubbing platform, delivering hyper-realistic content translation in 160+ languages. CAMB.AI empowers content creators and owners across media, sports, and education, to transcend language barriers and make content universally relatable on a global scale.
About Legible Legible is a mobile-centric global company specializing in eBooks and audiobook entertainment. Its extensive partnerships encompass four of the Big 5 Publishers, the world’s largest eBook distributor, and a wide range of outstanding and innovative publishers of all sizes, enabling Legible to seamlessly deliver millions of multilingual eBooks and audiobooks, transforming any smart device into a source of cutting-edge infotainment.
Legible is advancing mobile-centric eBook and audiobook experiences with interactive AI-driven content in Living Books, including comics and manga. Legible’s recent release, FrankensteinAI, third in the Company’s AI Classics series, reimagines Mary Shelley’s masterpiece with animated AI art developed by digital artist Remo Camerota and immersive character-driven AI chat, offering readers a uniquely engaging journey through the classic horror tale. Legible is also the exclusive publisher of the My Model Kitchen series of video-enriched Living Cookbooks by former supermodel, talk show host, bestselling author, and celebrity chef, Cristina Ferrare, with an embedded AI Sous Chef for each recipe, which have been featured three times on the Drew Barrymore Show and in many other major US media outlets.
As a first mover in the rapidly expanding automotive infotainment market, Legible has partnered with media providers Appning by FORVIA, Harman Ignite, LiveOne, ACCESS Twine4Car, and Visteon. Legible has the only Android Automotive app with the capacity to deliver both audiobooks and eBooks to drivers and passengers into tens of millions of vehicles around the globe, positioning Legible at the forefront of the new world of in-car infotainment experiences.
The 2024 EdTech Breakthrough Award winner for eLearning Innovation of the Year, Legible is reshaping the digital publishing landscape, committed to gaining a significant market share by providing innovative 21st-century publishing solutions and enriching global reading experiences.
Becoming a member of Legible Unbound for only US$9.99 provides readers access to unbeatable value on unlimited reading and listening, plus exclusive member-only access to Legible’s unique Living Books. Please visit Legible.com and discover the place where eBooks come to life.
Cautionary Note Regarding Forward Looking Information This Press Release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”), including statements regarding Legible’s business. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Legible’s control, including the impact of general economic conditions, industry conditions, currency fluctuations, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Legible believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. As such, readers are cautioned not to place undue reliance on the forward- looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Legible does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
(HARTFORD, CT) – Governor Ned Lamont and Connecticut Housing Commissioner Seila Mosquera-Bruno today announced that the Connecticut Department of Housing is awarding $12.8 million in grants to eight municipalities for infrastructure upgrades that will modernize and rehabilitate housing for low and moderate-income residents.
The grants are being awarded as part of theCommunity Development Block Grant (CDBG) Small Cities program, which is administered by the Connecticut Department of Housing with funding from the U.S. Department of Housing and Urban Development. Eligible projects are required to be in a municipality with a population of fewer than 50,000 residents.
“These housing grants go a long way to improving neighborhoods so that we can make our communities more attractive and encourage continued growth for the benefit of all our residents,” Governor Lamont said.
“Connecticut has both large and small cities that contribute to its unique culture and quality of life,” Commissioner Mosquera-Bruno said. “Whether it’s helping families make essential renovations to their homes, ensuring senior living facilities are ADA compliant, or providing a fire truck for increased services, these grants are essential to upgrade and enhance our smaller towns. We’re aware that this funding is crucial and improves the day-to-day-lives of our residents.”
The grants are being awarded to the following recipients:
Ashford – Pompey Hollow Senior Housing ($2,000,000): The Town of Ashford will use funds to renovate Pompey Hollow Senior Housing, a 32-unit low and moderate-income housing complex for elderly and disabled individuals. The proposed scope of work includes interior renovations replacing all common doors and hardware, installing automatic entry doors, full kitchen and bathroom upgrades, installing new mailboxes for the tenants, adding blown-in insulation, elevator upgrades, installing LED lighting, updates to the attic sprinklers, updates to emergency lighting, and replacement of all smoke detectors with hardwired combination smoke/carbon monoxide systems. All interior upgrades will focus on ADA compliance, where applicable. The exterior renovations include replacing the existing vinyl siding, replacing AC condensers, roof and chimney repairs, pathway and driveway repairs, sloping the existing patio for better drainage, installing a handrail at the front sidewalk, and installing new fuel tanks for the existing generator. Additionally, there will be mechanical upgrades including a new fire pump with transfer switch, new hot water circulating pumps, new expansion tanks, a new furnace air handler, and changing the heating system from oil to propane.
Canton – 21 Dowd Avenue ($2,000,000): The Town of Canton will use the funds to rehabilitate an SSHP property located at 40 Dowd Avenue in Canton. The property was built in 1979 with 40 residential units and a community building. The renovations include replacing roofing materials, installing new doors and windows, and replacing siding. ADA compliance improvements will be made to four residential units and the community building. The fire alarm and call-for-aid systems will be upgraded and replaced. Asphalt roofing systems will be installed in four of the six buildings. All windows will be replaced with Energy Star-rated windows. Improvements will include sidewalks, site railings, and parking areas.
East Windsor – Park Hill ($2,000,000): The Town of East Windsor will use the funds for capital improvements to the existing affordable housing development located at Park Hill, an 84-unit affordable housing development located at 1A Park Hill in Broad Brook. This phase will prioritize the oldest buildings, which include five buildings totaling 30 units. The remaining nine buildings (54 Units) will be addressed with SSHP funds to complete a similar scope. The improvements included in the proposed scope are energy efficiency upgrades through new heat pump heating systems (mini-splits); improved envelope with new siding, insulation, windows, and doors; and new kitchens, stoves, and flooring throughout units (excluding bathrooms). Additionally, handicapped accessibility upgrades to bathrooms through tub to shower conversions for elderly and disabled residents will be made.
Southington – General Pulaski Terrace ($2,000,000): General Pulaski Terrace consists of eleven buildings, including ten residential buildings with a total of 40 units and a community building. The project aims to modernize the property by replacing roofing materials, installing seamless aluminum gutters and leaf screens, replacing the existing heat pumps, and installing a monitored fire alarm system (call-for-aid) including a closed-circuit television system and the replacement of inefficient heat pumps with more energy-efficient units.
Stonington – Housing Rehabilitation Program ($400,000): The Town of Stonington will use the funds to complete up to 10 housing units, and the future use of any program income to be used to continue the Stonington Housing Rehabilitation Program (SHRP) into the future. It is the town’s goal to establish SHRP as a continuous town service for its residents and serve as a catalyst to improve the properties and the living conditions of the residents.
Tolland – Old Post Village ($2,000,000): Old Post Village was constructed in 1977, before the Americans with Disabilities Act of 1990. Currently, the housing complex does not have any fully ADA accessible units available for its residents. The scope of this project proposes to achieve full ADA compliance on three units. This conversion will not only benefit the tenants who need it most, it will also make the property fully compliant by meeting the minimum 10% “Type A” barrier-free handicapped- accessible units’ requirements. The proposed scope of work focuses on ADA improvements, energy efficiency, and safety. This will be achieved through renovations to the exterior building envelope, which includes replacing the roof, gutters, windows, entry and storm doors, as well as the entry door stoops; interior kitchen, bathroom and community room renovations, including ADA accessibility; new interior doors, water closets, sinks, showers, and flooring; blown-in attic insulation; replacement of all mini split units throughout the complex; electrical upgrades, including interior and exterior lighting, emergency lighting, smoke/carbon monoxide detectors, as well as building service panels and meter cans; and site work, including improving drainage, parking lot repairs and expansion, as well as ADA ramp additions and improvements.
Watertown – Country Ridge ($2,000,000): The proposed renovations for the complex include replacement of roofing materials, installation of new Energy Star-rated triple pane windows, and installation of new entry doors and storm doors. These renovations aim to improve the long-term sustainability and independence of the property.
Windsor – Housing Rehabilitation Program ($400,000): The Town of Windsor will use the funding to continue its Housing Rehabilitation Loan Program to help low and moderate-income homeowners rehabilitate their homes. Ten housing units are expected to be rehabilitated. Upgrades will include roof replacement, heating systems, window replacement, lead paint and asbestos removal, and electrical and code upgrades.
For more information about the CDBG Small Cities program, visitportal.ct.gov/doh/doh/programs/small-cities-program.
PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”)
1.KEY INFORMATION
(a)Full name of discloser:
Davidson Kempner Capital Management LP
(b)Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
(c)Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree
Direct Line Insurance Group PLC
(d)If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:
(e)Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure
12/02/2025
(f)In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state “N/A”
Yes, Aviva plc
2.POSITIONS OF THE PERSON MAKING THE DISCLOSURE
If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.
(a)Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)
Class of relevant security:
10 10/11p ordinary
Interests
Short positions
Number
%
Number
%
(1)Relevant securities owned and/or controlled:
34,653,153
2.64
(2)Cash-settled derivatives:
(3)Stock-settled derivatives (including options) and agreements to purchase/sell:
TOTAL:
34,653,153
2.64
All interests and all short positions should be disclosed.
Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).
(b)Rights to subscribe for new securities (including directors’ and other employee options)
Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:
3.DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE
Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.
The currency of all prices and other monetary amounts should be stated.
(a)Purchases and sales
Class of relevant security
Purchase/sale
Number of securities
Price per unit
Common Stock
Purchase
3000
GBP 2.6470
(b)Cash-settled derivative transactions
Class of relevant security
Product description e.g. CFD
Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position
(d)Other dealings (including subscribing for new securities)
Class of relevant security
Nature of dealing e.g. subscription, conversion
Details
Price per unit (if applicable)
4.OTHER INFORMATION
(a)Indemnity and other dealing arrangements
Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”
None
(b)Agreements, arrangements or understandings relating to options or derivatives
Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i)the voting rights of any relevant securities under any option; or (ii)the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state “none”
None
(c)Attachments
Is a Supplemental Form 8 (Open Positions) attached?
NO
Date of disclosure:
13/02/2025
Contact name:
Alex McMillan
Telephone number:
646 282 5805
Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.
The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.
The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.
EL PASO, Texas – Four individuals were arrested in El Paso on criminal charges related to their alleged involvement in a human smuggling conspiracy.
According to court documents, agents from the Ysleta Border Patrol Station’s Disrupt Unit were conducting surveillance operations at an El Paso motel when they observed a vehicle outfitted with a temporary license plate. The vehicle had previously been observed at various other hotels known to be used for harboring undocumented noncitizens. Court documents allege that the driver of the vehicle entered the motel lobby briefly before returning to the vehicle and driving away.
Soon after, the agents allegedly observed three individuals cautiously departing from one of the motel rooms and entering a separate vehicle with a temporary license plate. The driver of the vehicle, Yair Alejandro Aguilar-Flores, allegedly admitted to being a Mexican national living in the United States illegally. The two individuals who accompanied him, Angel Eduardo Carrillo-Carrillo and Jorge Alfredo Lopez-Acevedo, were also arrested after the agents determined them to also be illegally present in the U.S. They also acknowledged that additional undocumented noncitizens were inside the motel room.
Upon investigation, the agents located seven more undocumented noncitizens, all of whom were placed under arrest. As agents were concluding their investigation, they noticed the driver of the first vehicle returning to the motel. He approached the room where the migrants had been arrested and knocked on the door. The individual, Jesus David Reyes-Villagran, allegedly admitted to the agents that the motel room was his and that he was returning from dropping off five other undocumented noncitizens at another El Paso hotel.
Aguilar-Flores, Carrillo-Carrillo, Lopez-Acevedo and Reyes-Villagran are charged with bringing in and transporting aliens. If convicted, they each face up to 10 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
U.S. Attorney Jaime Esparza for the Western District of Texas the announcement.
The U.S. Border Patrol is investigating the case.
Assistant U.S. Attorney Sean Wang is prosecuting the case.
A criminal complaint is merely an allegation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
The Seabees were convoying home from an exercise when they noticed a submerged vehicle near the site of a collision and quickly rushed to the aid of the two elderly occupants inside. “We spotted the car while stopped for a routine check and ran straight over,” said Builder 2nd Class Thomas McLaughlin, who helped with the rescue. “The occupants were frightened but felt reassured when they saw us get into the water to help.” After carrying the motorists to safety through waist-deep mud and water, the Seabees returned to the vehicle to retrieve personal belongings. Now safe on dry land, Hospital Corpsman 1st Class Marcos Ramirez assessed all motorists involved in the three-car accident for injuries while Equipment Operator 1st Class Andrew Warren coordinated with emergency services. Once first responders took over the scene, the convoy was back on the road and returned safely to Naval Construction Battalion Center Gulfport, Mississippi. NMCB-11, assigned to Naval Construction Group (NCG) 2, is homeported in Gulfport as part of the Naval Construction Force. The mission of NCG 2 is to organize, man, train, maintain, and equip Naval Construction Regiments (NCRs), NMCBs, the Construction Battalion Maintenance Unit (CBMU), and the Underwater Construction Team (UCT) to provide supported commanders with expeditionary engineering forces capable of general engineering and construction, and limited combat engineering across the full range of military operations.
PALM BEACH, Fla., Feb. 13, 2025 (GLOBE NEWSWIRE) — FN Media GroupNews Commentary – The Military Drone Market is expected to see substantial growth in the coming years. A recent report from Straits Research. Said that the global military drone market size was valued at USD 21.81 billion in 2024 and is expected to grow from USD 24.25 billion in 2025 to reach USD 56.69 billion by 2033, growing at a CAGR of 11.20% during the forecast period (2025-2033). The report said: “A military drone, also known as an unmanned aerial vehicle (UAV), is a type of aircraft that operates without a human pilot on board. These drones are equipped with advanced technologies for surveillance, reconnaissance, intelligence gathering, and, in some cases, targeted strikes. Military drones are used extensively in modern warfare for a variety of roles, including combat, surveillance, logistical support, and search-and-rescue missions. The global market is experiencing rapid growth, driven by technological advancements and increasing global demand for enhanced surveillance, intelligence, and reconnaissance capabilities. As nations recognize the strategic advantages of unmanned aerial systems (UAS) in military operations, drones are increasingly deployed in both combat and non-combat roles. This expansion is further supported by rising defense budgets, particularly in regions such as Asia-Pacific, Europe, and the Middle East. Despite the promising growth, there are significant challenges facing the global market, including complex regulatory issues and ethical concerns surrounding the use of autonomous weapons. However, innovations in artificial intelligence (AI), miniaturization, and battery life are expected to open new growth opportunities, enabling more advanced, efficient, and versatile drone capabilities in the near future.” Active Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), AgEagle Aerial Systems Inc. (NYSE: UAVS), EHang Holdings Limited (NASDAQ: EH), Vertical Aerospace (NYSE: EVTL), The Boeing Company (NYSE: BA).
Straits Research continued: “Geopolitical tensions, especially in regions like Asia-Pacific, the Middle East, and Eastern Europe, are driving a significant demand for military drones. As nations seek to strengthen their surveillance, intelligence, and tactical capabilities, military drones have become integral to modern defense strategies. For example, the Indo-Pacific region increasingly views drones as vital for maintaining a strategic balance in contested areas. Similarly, Russia’s actions in Ukraine have highlighted the tactical advantages of drones, prompting Eastern European nations near the conflict zone to prioritize drone investments to enhance border security and ensure readiness in case of escalations.
ZenaTech (NASDAQ:ZENA) ZenaDrone Subsidiary Develops and Tests Proprietary Drone Communications System Enabling Secure and Reliable Communications for US Defense Applications – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a technology company specializing in AI (Artificial Intelligence) drones, Drone as a Service (DaaS), enterprise SaaS and Quantum Computing solutions, announces that its subsidiary ZenaDrone has developed and is currently testing a proprietary drone communications management system called “DroneNet” that enables direct and secure drone communications in situations without reliable internet, cellular or satellite communications. The internally developed system is specifically built for use with the Company’s ZenaDrone 1000 and IQ series of drone products. A drone communications system is a two-way link between a drone and its base station used to direct the drone and relay real-time drone video and sensor data.
“We believe our proprietary DroneNet communications system will improve both the reliability and performance of our drones ensuring we are not dependent on third-party products with compatibility issues. This internal development ensures we gain more customization of our products, cost management, and control of our supply chain, all of which results in what we believe to be superior drone solutions. Once we’ve tested this initial version, our plan for future advancements includes developing and testing our own microchips with multilayer encryption suitable for NDAA-compliant use required for US Defense applications,” said CEO Shaun Passley, Ph.D.
Drones used by the military for intelligence, surveillance and reconnaissance applications require reliable communications systems for uninterrupted data transmission, mission effectiveness, and operational security. Drones must relay real-time video, sensor data, and telemetry to command centers, allowing defense operators to make time-sensitive decisions. This is especially critical for Beyond Visual Line of Sight (BVLOS) operations, where drones operate over longer distances often in harsh or contested environments. Without secure and resilient communications links, drones risk losing control, can face signal jamming, or data latency, which can compromise mission success. Advanced proprietary communication solutions, using satellite and 4G help ensure connectivity in GPS-denied or high-interference environments and can safeguard data against jamming and cyber threats.
The ZenaDrone 1000 is an autonomous drone, in a VTOL (Vertical Takeoff and Landing) quadcopter design with eight rotors; it is considered a medium-sized drone measuring 12X7 feet in size. It is designed for stable flight, maneuverability, heavy lift capabilities up to 40 kilos, incorporating innovative software technology, AI, sensors, and purpose-built attachments, along with compact and rugged hardware engineered for industrial and defense use. Continued…Read this full release by visiting:https://www.financialnewsmedia.com/news-zena/
Other recent developments in the markets include:
AgEagle Aerial Systems Inc. (NYSE: UAVS) recently announced it recently completed a successful demonstration of its eBee VISION Intelligence Safety and Reconnaissance (ISR) UAS platform for key officials of the U.S. Department of Defense (DOD).
AgEagle CEO Bill Irby commented, “As we continue to expand our presence in the defense sector, this demonstration underscores AgEagle’s commitment to delivering innovative UAV solutions that meet the rigorous demands of diverse military applications. By providing enhanced intelligence, surveillance, and reconnaissance capabilities, the eBee VISION ensures our defense customers have the operational efficiency and situational awareness information they require for mission success.”
EHang Holdings Limited (NASDAQ: EH) recently announced the launch of its Exhibition (Experience) Center in Shenzhen’s Luohu Sports and Leisure Park. It is the world’s first EH216-S takeoff and landing site featuring a fully automated vertical lift vertiport. It also marks a new smart infrastructure in Shenzhen dedicated to the commercial operations of the EH216-S pilotless passenger-carrying aerial vehicle, establishing a groundbreaking model for electric vertical takeoff and landing (“eVTOL”) aircraft operations in urban areas.
The Luohu UAM Center, designed by EHang, boasts an automated three-dimensional vertical lift vertiport. This innovative facility reduces labor costs and optimizes space usage through its automated operations. The Luohu UAM Center, spanning approximately 753 square meters, has brought this advanced design to life. The first floor is dedicated to a hangar and boarding area, providing passengers with a seamless and comfortable experience. The integrated takeoff and landing pad with the hangar enables rapid charging, thereby streamlining flight operations. During the launch ceremony on January 21, an EH216-S aircraft was lifted from the first to the second floor by the vertical lift platform. It then took to the skies, completing a lap over the Luohu Sports and Leisure Park before landing smoothly, marking its first flight at the Luohu UAM Center. The demonstration received widespread acclaim from attendees.
Vertical Aerospace (NYSE: EVTL) has successfully completed the second stage of piloted thrustborne testing of its full scale VX4 prototype. The company is now preparing for a new chapter in its history, with the VX4 entering the penultimate phase of flight testing: wingborne flight. This phase will mark a defining moment in the VX4’s development, pushing beyond the limits of the secure airspace of Cotswold Airport’s airfield and into real-world operating conditions for the first time.
During Phase 2, the aircraft completed over thirty piloted test flights. Flight tests included completing successful hover and low speed flight maneuvers, as well as executing handling and performance procedures including roll, yaw, and spot-turns.
Shift5, the observability platform for onboard operational technology, and The Boeing Company (NYSE: BA) have recently entered into a global strategic reseller partnership to offer Shift5’s Compliance Module to automate Aircraft Network Security Program (ANSP) compliance efforts for commercial and civil aviation operators. The partnership will drastically reduce the time and manual effort required by maintenance and security teams to identify and report anomalies in onboard data in e-enabled aircraft, allowing them to address credible cyber threats and potential safety issues to improve the safety and operations of fleets.
Federal Aviation Administration’s (FAA) guidelines in Advisory Circular (AC) 119-1 and European Union Aviation Safety Agency’s (EASA) guidelines in Common Requirements Regulation (EU) 2017/373 and the Single European Sky Framework require operators flying connected or e-enabled aircraft with advanced connectivity capabilities to create an ANSP to ensure their safety, integrity, and reliability are in alignment with regulatory standards.
About FN Media Group: At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated fifty four hundred dollars for news coverage of the current press releases issued by ZenaTech, Inc. by the Company. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
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On February 6, 2025 at approximately 11:35 p.m., Humboldt RCMP received a report of an assault in a business parking lot in Humboldt, SK.
Officers responded along with local EMS. Investigation determined an adult male, who was armed with a machete, approached two other males in the parking lot. The two groups were not known to each other. During their interaction, one of the adult males was injured. The injured adult male was transported to hospital with injuries described as serious in nature. We do not have an update on his condition.
As a result of investigation, on February 7, officers located the adult male suspect in a parked vehicle on a rural property near Humboldt, SK. Officers approached the vehicle and determined the adult male was armed with a hatchet. The male threatened self-harm, also threatening police. Officers deployed a conducted energy device and the male was arrested. The male was taken to hospital with what were described as non-life threatening injuries.
48-year-old Dominic O’Rourke from Humboldt, SK is charged with:
one count, assault with a weapon, Section 267(a), Criminal Code;
one count, assault on peace officer with a weapon, Section 270.01(1)(a), Criminal Code; and
one count, possession of a weapon for a dangerous purpose, Section 88(1), Criminal Code.
Dominic O’Rourke is scheduled to appear in court in Humboldt on March 3, 2025.
Due to the nature of the works and available road space, these works will be carried out under a restricted hours road closure between 9.15am and 3pm Monday to Friday, with no weekend working planned, to minimise disruption. On street parking and loading will also be suspended in the works area.
During the road closure hours, the official diversion route will be via the A822, A85, A9, A823 and A822, and vice versa. The works area and official diversion route are both shown on the location plan(PDF,1 MB).
Outside the closure hours, temporary traffic signals may be used to protect road users and the work site.
During the works, vehicle access to properties within the works area will be limited and immediate entry/exit cannot be guaranteed. Our contractor will grant access when it is safe to do so, however we would advise residents and motorists to expect some delays. Access for emergency services vehicles will be maintained throughout, and on waste collection days bins should be presented as normal.
Some changes to bus services during the working hours will be necessary – arrangements for these will be detailed on our Public Transport pages.
We apologise for any inconvenience these essential works may cause and would thank residents and motorists for their patience while the resurfacing is carried out.
A London court has found Sam Kerr not guilty of the racially aggravated harassment of Metropolitan Police officer Stephen Lovell.
As captain of the Australian women’s national soccer team, Kerr was widely condemned when news broke she had used a “racial slur” against an officer during an altercation.
The high-profile incident sparked debate across the globe.
Initially, former Australian soccer player Craig Foster criticised Kerr’s behaviour before retracting it and publicly apologising to her.
Meanwhile, politicians and academics argued her comments did not amount to racism given the power dynamics at play: not only is Kerr of Indian descent, but official inquiries have found the Metropolitan Police to be institutionally racist.
Kerr has maintained she and her partner – United States’ women’s national team player Kristie Mewis – believed they were being kidnapped by a cab driver.
He refused to let them out of the cab after Kerr vomited, taking them to Twickenham police station instead of their destination.
There, Mewis broke the cab window in an attempt to get out of the vehicle.
At the station, Kerr reportedly appealed to officers to “understand the emergency that both of us felt”, referencing the 2021 abduction, rape and murder of Sarah Everard by a Metropolitan Police officer.
However, Kerr soon faced an allegation of racism after becoming distressed and antagonistic towards the officers.
Believing they were siding with the cab driver after forming negative preconceptions because of her skin colour, she repeated “you guys are stupid and white, you guys are fucking stupid and white”.
What are the legal ramifications in the UK?
Kerr pleaded not guilty to the offence of intentionally causing harassment, alarm, or distress to another by using threatening, abusive, or insulting words under Section 4A of the Public Order Act 1986, and to the racial aggravation of the offence per the Crime and Disorder Act 1998.
She faced a maximum sentence of two years’ imprisonment and an unlimited fine.
Kerr accepted she used the words “fucking stupid and white”. But it still had to be proven she intended and caused harassment, alarm, or distress to Lovell and that the offence was racially motivated.
Initially, the Crown Prosecution Service concluded there was not enough evidence to charge Kerr.
But after receiving a request from the Metropolitan Police to review the case, and a new statement from Lovell about Kerr’s words making him feel “belittled” and “upset”, they authorised police to charge the athlete.
A jury found her not guilty after a seven-day trial.
Broadly speaking, public order offences criminalise words and behaviour that might breach the peace. Police have significant discretion to use these offences as tools to regulate people’s uses of public space.
In Australia and the UK, police have been shown to use these powers in discriminatory ways.
Kerr has conceded her behaviour was regrettable but the charge against her is difficult to align with the purpose of public order legislation.
What does it mean for Kerr’s soccer career?
It is unclear what this verdict means for Kerr’s career.
Her English club, Chelsea, is anticipating she will return from a long-term knee injury soon.
It is possible the club was kept in the loop about Kerr’s altercation with police from the beginning, as she reportedly threatened to involve its lawyers in the body-cam footage shown at trial.
The club is yet to make a statement about the trial or verdict.
Football Australia is in a different position though, having been blindsided by the news Kerr had been charged by police.
The fact Kerr is the captain of the Matildas, and the sport’s highest-profile marketing asset, adds layers of complexity to Football Australia’s decision-making.
CEO of Football Australia James Johnson declined to weigh in on Kerr’s captaincy until her trial concluded.
It is possible the governing body will impose a sanction, with Kerr falling afoul of clause 2.14 of their national code of conduct and ethics after being charged with a criminal offence.
Kerr could return to the pitch later this month, but has been left out of the Matildas squad for the SheBelieves Cup in the US because of her fitness.
With the AFC Women’s Asian Cup on the horizon, interim Matildas head coach Tom Sermanni no doubt hopes her recovery stays on track.
Meanwhile, Kerr is yet to play under Chelsea manager Sonia Bompastor. She could prove crucial as the club chases an elusive UEFA Women’s Champions League title, but faces competition for her spot.
Megan McElhone 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.
Debt Reduction of $5 Million: The Now Corporation (OTC: NWPN) has significantly improved its financial position by reducing $5 million in convertible debt.
Strategic Agreement with Medican Enterprises Inc.: Debt was exchanged for the research, development, and design of an advanced off-road electric vehicle.
Off-Road EV Innovation
Cutting-Edge Electric Vehicle Development: The new EV will feature a quad-motor configuration, solid-state battery technology, adjustable air suspension (24 inches of clearance), and superior off-road capabilities.
Green Rain Solar’s Expertise: The Now Corporation’s subsidiary, Green Rain Solar Inc., will lead the R&D, leveraging its strength in renewable energy and battery management.
Profit-Sharing Partnership
50/50 Revenue Split: Medican Enterprises Inc. retains ownership of the brand and IP, while The Now Corporation leads development. Net profits from commercial sales will be split evenly.
Corporate Digital Expansion
Website Revamp & Enhanced Online Presence: The Now Corporation is launching a fully redesigned corporate website (www.greenrainenergy.com) within 24 hours to provide investors and stakeholders with streamlined access to company updates.
Strategic Vision & Industry Impact
Commitment to Renewable Energy & EV Technologies: The Now Corporation aims to revolutionize off-road EVs by integrating solar-powered innovations and sustainable energy solutions through Green Rain Solar.
Market Leadership in Urban & Grid-Connected Solar Solutions: The company specializes in urban rooftop solar installations and advanced battery storage for high-energy-cost regions.
PASADENA, Calif., Feb. 13, 2025 (GLOBE NEWSWIRE) — The Now Corporation (OTC: NWPN) (“Now” or the “Company”) is pleased to announce a significant improvement in its financial position by reducing its outstanding debt by $5 million. This milestone has been achieved through a strategic agreement with Medican Enterprises Inc. (“Medican”), further strengthening the Company’s commitment to innovation in the renewable energy and electric vehicle (EV) sectors.
Under the terms of the agreement, The Now Corporation has exchanged $5 million of convertible debt in consideration for the research, development, and design of an advanced off-road electric vehicle. This cutting-edge EV is being engineered to surpass current market offerings, featuring a quad-motor configuration, solid-state battery technology, an adjustable air suspension system with up to 24 inches of clearance, and superior off-road capabilities designed for extreme terrains.
Green Rain Solar: Powering the Future of EV Innovation
The Now Corporation, through its wholly owned subsidiary Green Rain Solar Inc., possesses the technical expertise and experienced engineering team necessary to complete the design of this state-of-the-art off-road EV. Green Rain Solar is an industry leader in sustainable energy solutions, specializing in solar-powered innovations and energy grid integration. The subsidiary’s deep-rooted knowledge in advanced energy storage, battery management systems, and renewable power applications positions The Now Corporation as a formidable player in the electric mobility space.
“The completion of this agreement strengthens our balance sheet while positioning The Now Corporation as an innovator in the off-road EV market,” said Alfredo Papadakis, CEO of The Now Corporation. “Through our subsidiary Green Rain Solar, we have assembled a world-class team with the expertise to bring this revolutionary vehicle to life. This project represents a bold step toward integrating cutting-edge electric vehicle technology with sustainable energy solutions.”
As part of the agreement, Medican Enterprises Inc. will retain full ownership of the EV’s brand, intellectual property, and proprietary technologies, while The Now Corporation, through Green Rain Solar, will lead the research and development efforts necessary to complete the vehicle’s design.
Profit-Sharing Agreement:
Once the off-road EV is fully developed, produced, and commercially sold, all net profits will be equally divided (50%/50%) between The Now Corporation and Medican Enterprises Inc.. This profit-sharing structure ensures that both parties benefit from the success of the vehicle while reinforcing The Now Corporation’s commitment to long-term value creation.
Corporate Website Revamp: New Online Presence Goes Live
In addition to this major debt reduction and development initiative, The Now Corporation is excited to announce the full revamp of its corporate website, www.greenrainenergy.com. The newly designed website will provide investors, stakeholders, and customers with enhanced access to information about the Company’s projects, ongoing developments, and strategic vision. The website is scheduled to go live within the next 24 hours.
A Strong Future for The Now Corporation
The Now Corporation remains committed to pioneering advancements in renewable energy and electric vehicle technologies. The Company believes that leveraging its expertise through Green Rain Solar will allow it to set new industry standards for sustainable off-road transportation. Additional updates on the EV project and other strategic initiatives will be provided as developments progress.
About The Now Corporation:
The Now Corporation (OTC: NWPN) is committed to advancing clean energy solutions through its subsidiary, Green Rain Solar Inc. Green Rain Solar focuses on urban rooftop solar installations and grid-connected power solutions, targeting markets with high energy costs. By combining state-of-the-art solar and battery technologies, The Now Corporation is dedicated to driving innovation and sustainability in the renewable energy sector.
About Green Rain Solar Inc.:
Green Rain Solar Inc., a subsidiary of The Now Corporation (OTC: NWPN), is a solar energy utility company specializing in urban solar energy and grid integration. The company develops innovative rooftop solar projects to transform sunlight into grid-connected power, promoting sustainable energy solutions for high-cost urban areas.
Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. This includes the possibility that the business outlined in this press release may not be concluded due to unforeseen technical, installation, permitting, or other challenges. Such forward-looking statements involve risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of The Now Corporation to differ materially from those expressed herein. Except as required under U.S. federal securities laws, The Now Corporation undertakes no obligation to publicly update any forward-looking statements as a result of new information, future events, or otherwise.
– The Credit Line Guaranty of $4 Million is to Further the DriveItAway Mission to Solve the Personal Transportation Problem of Entry Level Employees in the U.S., and Supply Vehicles for its Small Commercial Enterprises, by Enabling Individuals and Small Businesses the Ability to Drive and Then Buy Quality Vehicles on the DriveItAway all Digital Flexible Lease Subscription Mobility Platform
– The Funding Guaranty is from Fleet and Mobility Technology Leader Menachem Light, the Co-Founder of Voyager Global Mobility (VGM) the innovative mobility supply company that provides professionally managed vehicles in North America to driver and software company partners through its internally operated companies and its wholly owned subsidiaries Buggy TLC (United States), FastTrack Leasing TLC (United States) and Mi Nave (Mexico)
– Menachem Light will immediately Chair DriveItAway Holdings Inc.’s newly created Board of Advisors, as the Company Broadens its Resources with Leaders with Deep Industry Expertise,
DriveItAway Holdings, Inc. ( OTC Marketplace: DWAY) (“DriveItAway” and “Company”), an automotive industry leader in new digital mobility platforms with its unique “micro-lease/subscription to purchase” technology, continues to gain traction and visibility in its mission to enable all to drive, and then buy, affordable quality personal transportation, announces today the closing of a four million dollar credit line funding guaranty from Menachem Light, a noted national leader in the vehicle rental industry. He has also agreed to serve on the Company’s Board of Advisors as Chairman.
Menachem Light, is the Co-Founder of Voyager Global Mobility (VGM), a growing mobility supply company that provides professionally managed vehicles in North America to driver and software company partners on the trillion-dollar asset side of the smart mobility industry: ride-hailing, on-demand travel, and car sharing. Through its internally operated companies and its wholly owned subsidiaries Buggy TLC (United States), FastTrack Leasing TLC (United States) and Mi Nave (Mexico), and partners closely with Uber, Lyft, Via, Didi, Turo and Getaround as it efficiently grows its market share in this hyper-fragmented supply industry.
DriveItAway will use the credit guaranty to increase its own company-owned fleet, operating on its unique app-based digital platform that easily and transparently provides vehicle subscriptions, long-term rentals and flexible leases to individuals, and now small businesses, regardless of credit score, credit history or cash down payment.
“According to Deloitte’s 2025 Global Automotive Consumer Study, 44% of 18-34 year olds in the US are somewhat or very interested in giving up vehicle ownership for subscription model, yet very few car dealerships offer vehicle subscriptions or flexible leases as an option,” says John F. Possumato, Founder & CEO of DriveItAway Holdings, Inc., “While we are fundamentally a turnkey Software as a Service for car dealerships who want to offer vehicle subscriptions and flexible leases to all prospects (including those who ‘fall of the buying grid’ due to a poor credit scores), increasing our own fleet of vehicles serves not only to increase revenues and continues to improve our technology, but also acts as an ‘open book’ example to our chosen supplier car dealer partners that may be interested in using our platform to provide this turnkey service with their own inventory, as a unique competitive advantage for gaining new potential vehicle prospects who are looking for such a service but who currently are not being offered this option – we don’t just offer SaaS, we put ‘our money where our mouth is’ in demonstrating, first hand, the returns and advantages.”
“As outlined in my ‘Year End Message to Shareholders’ last month, we believe that we are at the forefront of a massive opportunity for our new automotive retailing technology to solve the needs of a vast number of people and small businesses, and one of our goals for the new year is to work and be guided by the very best in our sector of the industry to reach our true potential,” continues Possumato, “which is why I am the most pleased and excited to announce that Menachem Light, a true industry icon, has agreed to Chair our newly created Board of Advisors to help us with long-term strategy and growth. We are very fortunate that Menachem will help us achieve and fully leverage the massive opportunity we see ahead.”
“As one of the original three co-founders of Buggy, which grew from just one vehicle in New York City to over 14,000 vehicles globally, I believe that I can truly help DriveItAway on this path to scale,” says Menachem Light, Co-Founder of Voyager Global Mobility. “I think there is tremendous opportunity here as the way people ‘acquire’ personal transportation begins to change, and DriveItAway provides the technology needed to enable all automotive retailers to adapt to these changes, which is why I am ‘all in’ in helping John and his team at DriveItAway achieve and leverage this tremendous scalable business.”
“Menachem Light, Co-Founder of Voyager Global Mobility, and I are scheduled as guests on an upcoming episode of ‘The EVs for Everyone Podcast‘ with Elena Ciccotelli, to discuss the future developments of automotive fleet and retailing technologies and where EVs fit into the mix,” notes Possumato.
DriveItAway will be filing its annual 10K for the fiscal year ending September 30, 2024, and the Quarterly Report for the First Quarter December 31, 2024, in the near future.
Download the DriveItAway app today at DriveItAway.
About DriveItAway Holdings, Inc.
DriveItAway Holdings, Inc. is the first national dealer-focused mobility platform that enables car dealers to sell more vehicles in a seamless way through eCommerce, with its exclusive “Pay as You Go” app-based subscription. DriveItAway provides a comprehensive turn-key, solutions-driven program with proprietary mobile technology and driver app, insurance coverages, and training to get dealerships up and running quickly and profitably in emerging online sales opportunities, to gain sales and market share.
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect our good faith beliefs, assumptions, and expectations, but they are not guarantees of future performance. We caution investors not to unduly rely on any forward-looking statements. The forward-looking statements speak only as of the date of this press release.
Bob Dylan gives his first concert in Israel in 1987 in Tel Aviv, playing with Tom Petty and the Heartbreakers.AP Photo/Anat Givon
James Mangold’s film “A Complete Unknown,” nominated for eight Oscars, captures the elusive, enigmatic quality of Bob Dylan in the early 1960s: the years he emerged as a major musical and cultural phenomenon. A scant few years after he came to New York from Minnesota, and legally changed his name from Robert Allen Zimmerman, Dylan transformed American music.
Especially “unknown” and baffling is Dylan’s religious and spiritual identity, one that has undergone many transformations. Mangold’s film avoids these questions, as does his 2005 film “Walk the Line,” a Johnny Cash biopic. The filmmaker – and much of Hollywood in general – must believe religion isn’t good at the box office.
As a music fan and scholar of religion, I have long been interested in artists’ religious backgrounds. Cash’s tumultuous life, like his friend and collaborator Dylan’s, was rich in religious affiliations and commitments.
And both of these musical giants shared a connection with Israel, defying calls to cancel performances there over concern for Palestinian rights – similar to artists’ debates in recent years. Dylan’s, in particular, is difficult to parse and part of his larger spiritual journey – one that’s rambled through Judaism and Christianity and back again.
Bob Zimmerman
The last time Dylan took the stage in Israel was at Tel Aviv’s Ramat Gan Stadium in June 2011. It had been 18 years since his last performance in the country, though he had made many personal visits in the interim.
He was, of course, a household name in Israel, revered by the young as well as the not so young. The audience members that evening, according to the Haaretz reporter who covered the event, were
“overwhelmingly young, overwhelmingly native-born Israelis.”
Surely everyone in attendance knew that Dylan had been born Robert Zimmerman – indeed, that he had a long, complicated relationship with Israel and with Judaism itself.
Bob Dylan, right, and a friend visit the Western Wall in Jerusalem on April 6, 1971. AP Photo
Young Zimmerman grew up in Hibbing, Minnesota, in a home that emphasized Jewish identity, if not its religious rituals. A visiting Orthodox rabbi had prepared him for his bar mitzvah, which took place in May 1954, with 400 guests in attendance. That summer, Zimmerman attended Camp Herzl in Wisconsin, a Jewish camp with a Zionist orientation; he would return there the following summers as well. At Camp Herzl young Bob formed his first musical group, the Jokers.
In his mid-20s, he married Sara Lownds, a Jewish woman with whom he had five children. Dylan made his first private visit to Israel in 1969 and returned regularly in the early 1970s. In May 1971, he celebrated his 30th birthday in Jerusalem; photos of him at the Western Wall appeared in Israeli and American newspapers, fueling speculation that he had “found religion” in the holy city.
In some ways, the young star put distance between himself and his Jewish roots – he was now Dylan, after all, not Zimmerman. But even in these early years, as throughout his career, “Dylanologists” delighted in the biblical allusions in some of his songs – including irreverent ones, at least at first glance.
“Highway 61 Revised,” for example, the title track of a 1965 album, kicks off with the binding of Isaac: a section of the Book of Genesis where God famously tests Abraham with a command – reprieved at the last moment – to kill his beloved child:
Yeah, God said to Abraham, “Kill me a son”
Abe said, “Man, you must be puttin’ me on”
God said, “No”, Abe said, “What?”
Twists and turns
But Dylan confounded both his admirers and his critics, turning abruptly in the late 1970s to evangelical Christianity. After his conversion, Dylan took a course at Vineyard Christian Fellowship in Los Angeles, which emphasized the end-time narratives of the New Testament Book of Revelation.
His years as a born-again Christian resulted in a series of gospel-influenced albums and at least one more visit to Israel during this early ’80s period. In 1987 he gave his first concerts there, kicking off his Temples in Flames world tour alongside Tom Petty and the Heartbreakers.
Within years of embracing Christianity, however, Dylan’s spiritual life yet again confounded his critics and fans, including the more scholarly obsessives known as “Dylanologists.” Born into Judaism, then a born-again evangelical, the rocker now forged ties to Chabad, an ultra-Orthodox Hasidic Jewish movement. Between 1986 and 1991, he made three appearances on the Chabad “To Life” Telethon, an annual fundraiser broadcast from Los Angeles.
Because Dylan was – and is – so private and publicity-shy, it is difficult to know whether such ecumenism represented true spiritual seeking, a political statement or sheer mischief.
Whether he was presenting himself as a born-again Christian, a supporter of Chabad or just a rock and roller, Dylan seemed inextricably connected to Israel in all its complexity. For example, many listeners interpreted the song “Neighborhood Bully” on his 1983 “Infidels” album as a “declaration of full-throated Israel support,” as Haaretz wrote.
Many fans interpret ‘Neighborhood Bully’ as sympathetic to Israel.
The lyrics presented the title character, the “bully,” as an unrepentant, besieged victim: “His enemies say he’s on their land/ They got him outnumbered a million to one/ He got no place to escape to, no place to run.”
‘Dylan lives here’
Dylan performed again in Israel in June 1993, bringing his summer tour to Tel Aviv, Beersheba and Haifa.
It would be nearly two decades before his next public performance in Israel, the 2011 concert at Ramat Gan. By then, performing in Israel had become much more controversial, with artists planning to tour there under scrutiny.
The boycott, divestment and sanctions movement publicly pressured the singer to cancel his Tel Aviv show, appealing to his past support of the American Civil Rights Movement. Activists called on Dylan “not to perform in Israel until it respects Palestinian human rights. A performance in Israel, today, is a vote of support for its policies of oppression, whether you intend for it to be that, or not.”
Ever the enigmatic artist, Dylan did not respond to the BDS appeal, nor did he cancel his concert. The towering pop-music icon did not say why. But many Israelis and Americans read his return as a gesture of support for the Jewish state in the face of widespread criticism.
Tel Aviv welcomed him with open arms, including a television news profile of his life, music and Jewish affiliations. Though he said nothing from the stage during the performance – late-career Dylan is notorious for not addressing the audience between songs – Israeli fans saw the concert as a triumphant homecoming.
“Dylan lives here. He lives in the culture of Israel,” wrote the Haaretz reviewer. “He has influenced Israel for the better more than any other American Jew.”
Since the outbreak of the Israel-Hamas war in 2023, international criticism of Israeli policies has become much more strident. Dylan, as cryptic as ever, has neither joined the critics nor identified himself with Israel’s supporters.
Shalom Goldman 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.
The Government of Jersey has published its first ‘Collision and Casualty Reduction Plan’, which sets out plans to support a reduction in number of people seriously injured or killed on roads reduced.
This is the first time Jersey has adopted a plan focused on the reduction of collisions and casualties. It aligns Jesey with best practice from countries such as Sweden and the Netherlands who have successfully reduced road casualties through implementing the ‘Safe System Approach’.
Initial targets of the plan aim for a 50% reduction of people being seriously injured or killed on roads over the next decade, while working towards the long-term goal of ‘Vision Zero’ where no one is seriously injured or killed on roads.
The plan acknowledges that while human error is inevitable, the severity of collisions can be significantly reduced through forgiving road design, safer vehicles, appropriate speeds, better driver behaviour and effective post-collision care and response, and learning lessons from collisions to try and prevent similar collisions occurring in the future.
The Minister for Infrastructure, Connétable Andy Jehan, said: “I am very pleased to see this plan, the first of its kind in Jersey, being published. Of course, no loss of life on our roads is acceptable and this plan is a commitment to every Islander that we are taking decisive, coordinated action to reduce road harm and protect our community.
“We all have a role to play in making our roads safer. Whether you drive a car, ride a bike, or walk, your decisions matter. Together, we can build a road system where safety is prioritised, and lives are saved.:
A new report has been published by Oxford City Council, providing a breakdown of the key sources of air pollution in the city.
The Oxford Source Apportionment report, which was conducted by Ricardo Group, highlights that road transport remains the highest contributor to NOx emissions, while domestic wood burning is the largest contributor to particulate pollution (PM2.5) in the city.
The report examines the contributions of different sectors to air pollution in Oxford (transport, domestic combustion, point sources, other transport, and other emissions), focusing on nitrogen oxides (NOX – a combination of nitric oxide (NO) and nitrogen dioxide (NO2)) and fine particulate matter (PM2.5 and PM10).
The report is based on air pollution data measured in 2022, as well as modelling on the impact of the introduction of 159 electric buses in Oxford through the Government’s ZEBRA scheme.
The report found that while road transport remains the largest source of NOX pollution (32%), domestic combustion—particularly wood burning—is the leading cause of harmful PM2.5 emissions (24%).
Key findings of the report:
Road transport remains the largest contributor to NOX pollution – accounting for 32% of total NOX emissions.
Domestic combustion accounts for 26% of total NOX emissions.
Point sources (emissions from sources at a known location that can be directly mapped such as industry or commercial buildings) contribute 20% of total NOX emissions.
Other road transport (including boats, and military aircraft) accounts for 9% of total NOX emissions.
Other emissions (including rail and aircrafts, non-road mobile machinery, industry, waste, solvents, agriculture, and production processes) accounts for 13% of total NOX emissions.
Domestic wood burning is the highest contributor to PM2.5 pollution, accounting for 24% of total PM2.5 emissions.
Buses contribute 4% to total NOX emissions, reflecting a significant (28%) reduction since the previous source apportionment study, due to Oxford’s transition to electric buses.
Road Transport
Road transport remains the largest single contributor to NOX pollution, with diesel vehicles dominating emissions:
Cars (petrol and diesel) account for 48% of total NOX emissions.
Heavy Goods Vehicles (HGVs) account for 19%.
Light Goods Vehicles (LGVs) account for 26%.
Buses contribute 4% to total NOX emissions, reflecting a significant (28%) reduction since the previous source apportionment study, due to Oxford’s transition to electric buses.
Private hire and Hackney taxis account for 2%.
Since the previous Source Apportionment Study, road transport NOX emissions have dropped from 40% to 32%, primarily due to the introduction of electric buses under the government’s ZEBRA scheme. Buses now contribute to 4% to total NOX emissions in the city.
Since the previous Source Apportionment Study, road transport NOX emissions have dropped from 40% to 32%, primarily due to the introduction of electric buses under the government’s ZEBRA scheme. Buses now contribute to 4% to total NOX emissions in the city.
Hotspot Locations
In addition to transport emissions across the whole city, the report also looked at pollution in three ‘hotspot’ locations – St Clement’s, Botley road and Worcester Street – which have historically seen high levels of air pollution and are key roads for vehicles to travel into and across the city.
The findings show:
Cars are the biggest contributors to NOX across all three locations.
LGVs and HGVs follow as the next most significant contributors.
Buses have seen a reduction in their contribution to NOX emissions, following the transition to electric in 2024.
Private hire taxis contribute more to NOX emissions than Hackney Carriages – with both sources combined accounting for 2% of NOX.
Domestic Combustion
The report highlights that the domestic combustion sector (which includes emissions from burning wood, coal, and gas to heat homes) is responsible for 35% of total PM2.5 emissions citywide – with wood burning alone accounting for 25%.
When looking at the specific sources of PM2.5 within the domestic combustion sector:
Wood burning accounts for 70% of all PM2.5 emissions relating to domestic combustion.
Commercial heating (in businesses and institutions) contributes 15%.
Gas and coal (domestic others) burning contributes 14%.
Smokeless fuels account for just 1%.
Other sources of emissions
Other sources of NOX emissions in Oxford includes:
Point sources (such as industry and commercial buildings) contribute 20% of total NOX emissions.
Other road transport (including boats, and military aircraft) accounts for 9% of total NOX emissions.
Other emissions (including rail and aircrafts, non-road mobile machinery, industry, waste, solvents, agriculture, and production processes) account for 13% of total NOX emissions.
There is no safe level of air pollution
In Oxford, the main pollutant of concern is nitrogen dioxide (NO2). Over the past few years, Oxford’s air quality has improved significantly, and since the introduction of the city’s current Air Quality Action Plan in 2021, NO2 levels across Oxford have seen a 18% average reduction.
Oxford is currently in compliance with the UK’s legal limit for NO2 in all areas of ‘relevant exposure’ within the city (40 µg/m³). However, there is ultimately no safe level of NO2 exposure.
In September 2021 the World Health Organization (WHO) recommended a much ‘safer’ annual mean level of NO2 of 10 µg/m³. Under its current Air Quality Action Plan, which was established in January 2021, Oxford has set its own voluntary annual mean target for NO2 of 30 µg/m³) to be achieved across the city by 2025.
Next Steps
The report will inform the Council’s upcoming Air Quality Action Plan, which will be updated in 2026 following public consultation later this year.
An Air Quality Action Plan (AQAP) outlines the actions that the Council and its partners will take to improve air quality in Oxford within a certain period of time.The Council’s current Air Quality Action Plan can be read here.
“This latest source apportionment study shows us to the key sources of toxic air pollution in Oxford, and what areas we need to focus on to improve air pollution across the city.
“We can see that there has been a significant reduction in the contribution of buses to NOX levels following the introduction of the 159 electric bus fleet. However, cars remain the largest contributor to this pollution.
“The report also highlights that we must address the growing issue of domestic wood burning, which is now the largest source of harmful PM2.5 pollution in Oxford. Many people may not realise that even modern wood stoves produce dangerous emissions. By reducing wood burning and supporting zero-emission transport, we can continue to improve Oxford’s air quality for everyone.”
Councillor Anna Railton,Deputy Leader and Cabinet Member for Zero Carbon Oxford, Oxford City Council
“The modelled impact that the new fleet of electric buses is having on air quality in Oxford in such as short space of time is remarkable. We are incredibly proud to have put together the successful bid alongside the bus companies to bring them to the city, and this new report shows why it was such an important initiative in creating a cleaner, greener county.”
Councillor Andrew Gant, Oxfordshire County Council’s Cabinet Member for Transport Management
“We’re proud of the massive step change in emissions buses have delivered in Oxford over the last decade to help provide radically cleaner air for the communities we serve.
“This has been sustained over several years with the move to ultra-low emission vehicles and more recently zero emission vehicles, following significant investment by both companies.
“However, overall Oxford’s air is not benefitting as much as it could be due to the steadily increasing proportion of car and van emissions. The data clearly demonstrates that it’s vital for Oxford’s health that suitable measures are introduced to help reduce the volume of private vehicles on the city’s roads to achieve even greater improvements in air quality.”
Luke Marion, Managing Director of Oxford Bus Company
Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.
2.5 billion rubles have been allocated from the Cabinet’s reserve fund to support agricultural producers who suffered in the Kursk region. The order to this effect was signed by Prime Minister Mikhail Mishustin.
The allocated funds will be used to compensate farmers for losses in livestock and aquaculture facilities. Support will be provided to 20 agricultural producers.
The decision was made on the instructions of the President. The head of state gave it following a meeting on the situation in border regions in 2024.
Also, on the instructions of the head of state, a whole range of support measures have been envisaged in these regions, including the provision of subsidies to organizations and individual entrepreneurs for partial compensation of expenses for paying employees for forced downtime, an annual deferment of taxes and insurance premiums for individuals and organizations, expanded budget financing of medical institutions, grants for the restoration or relocation of production, the supply of vehicles for mobile trade, benefits for equipment leasing, free economic zones with special conditions for entrepreneurial activity.
“I would like to draw the attention of the Ministry of Agriculture: resources must be sent to Kursk farmers as soon as possible. Despite the complexity of the situation in the region, people continue to work and strive to preserve their farms. It is important to help them with this,” Mikhail Mishustin emphasized.
The document will be published…
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.
New York, New York, Feb. 13, 2025 (GLOBE NEWSWIRE) — GraniteShares launches another three leveraged single stock ETFs to its growing suite of funds. The ETFs provide investors leveraged exposure to Dell (DELL), Intel (INTC) and Qualcomm (QCOM).
On February 13, 2025,GraniteSharesintroduces:
GraniteShares 2x Long QCOM Daily ETF (QCML)
GraniteShares 2x Long DELL Daily ETF (DLLL)
GraniteShares 2x Long INTC Daily ETF (INTW)
Each of these funds is designed for those who are bullish on the artificial intelligence (AI) revolution and are looking for enhanced ways to trade Qualcomm, Dell Technologies, and Intel. By leveraging their performance with a two-times multiplier, investors have an opportunity to amplify gains or losses on upward or downward movements.
GraniteShares continues to be a pioneer in the leveraged single-stock ETFs space. This launch expands its offerings significantly to twenty three short and leveraged single stock ETFs.
These three new ETFs represent the first leveraged single stock ETFs on these names. Leveraged single stock ETFs have proved themselves to be popular with investors as they can be bought and sold from ordinary brokerage accounts. Although the ETFs are leveraged, there are no margin calls for investors and investors control when to buy or sell. Many leveraged single stock ETFs have an active options ecosystem allowing for futher ways to trade around the underlying stock.
Graniteshares recently entered the options income space with an innovative new offering called YieldBoost. The first ETF in the YieldBoost offering; GraniteShares YieldBoost TSLA (TSYY) is an ETF that sells put options to generate income for investors. TSYY made its first distribution in late January and as at Feb 7th, 2025 has an annualized yield of 35.11%, a 30-Day SEC Yield of -3.03%, & 7.9% Total Return in Just Over a Month as of January 31, 2025!
About GraniteShares:
GraniteShares is a global investment firm dedicated to creating and managing ETFs. Headquartered in New York City, GraniteShares provides products on U.S., U.K, German, French & Italian stock exchanges. The firm is a market leader in leveraged single-stock ETFs and provides innovative, cutting-edge investment solutions for the high conviction investor.
Founded in 2016, GraniteShares is an ETF provider focused on providing innovative, cutting-edge alternative investment solutions. Its U.S. ETF offerings include a broad-based commodity index fund, physically backed gold and platinum funds and a high-income pass-through securities index fund.
GraniteShares also offers a suite of leveraged single stock ETFs, including those targeting NVIDIA, Coinbase and Tesla. The company has over $9 billion in assets under management as of February 6th, 2025.
GraniteShares Inc. Attn: Media Relations 222 Broadway, 21 Floor, New York, NY, 10038 844-476-8747 info@graniteshares.com
RISK FACTORS AND IMPORTANT INFORMATION
This material must be preceded or accompanied by a Prospectus. Carefully consider the Fund’s investment objectives, risk factors, charges and expenses before investing. Please read the prospectus before investing.
The Fund is not suitable for all investors. The investment program of the funds is speculative, entails substantial risks and include asset classes and investment techniques not employed by most ETFs and mutual funds. Investments in the ETFs are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged (2X) investment results, understand the risks associated with the use of leverage and are willing to monitor their portfolios frequently. For periods longer than a single day, the Fund will lose money if the Underlying Stock’s performance is flat, and it is possible that the Fund will lose money even if the Underlying Stock’s performance increases over a period longer than a single day. An investor could lose the full principal value of his/her investment within a single day.
The Fund seeks daily leveraged investment results and is intended to be used as short-term trading vehicles. This Fund attempts to provide daily investment results that correspond to the respective long leveraged multiple of the performance of its underlying stock (a Leverage Long Fund).
Investors should note that such Leverage Long Fund pursues daily leveraged investment objectives, which means that the Fund is riskier than alternatives that do not use leverage because the Fund magnifies the performance of its underlying stock. The volatility of the underlying security may affect a Funds’ return as much as, or more than, the return of the underlying security.
Because of daily rebalancing and the compounding of each day’s return over time, the return of the Fund for periods longer than a single day will be the result of each day’s returns compounded over the period, which will very likely differ from 200% of the return of the Underlying Stock over the same period. The Fund will lose money if the Underlying Stock’s performance is flat over time, and as a result of daily rebalancing, the Underlying Stock volatility and the effects of compounding, it is even possible that the Fund will lose money over time while the Underlying Stock’s performance increases over a period longer than a single day.
Shares are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. There can be no guarantee that an active trading market for ETF shares will develop or be maintained, or that their listing will continue or remain unchanged. Buying or selling ETF shares on an exchange may require the payment of brokerage commissions and frequent trading may incur brokerage costs that detract significantly from investment returns.
An investment in the Fund involves risk, including the possible loss of principal. The Fund is non-diversified and includes risks associated with the Fund concentrating its investments in a particular industry, sector, or geographic region which can result in increased volatility. The use of derivatives such as futures contracts and swaps are subject to market risks that may cause their price to fluctuate over time. Risks of the Fund include Effects of Compounding and Market Volatility Risk, Leverage Risk, Market Risk, Counterparty Risk, Rebalancing Risk, Intra-Day Investment Risk, Other Investment Companies (including ETFs) Risk, and risks specific to the securities of the Underlying Stock and the sector in which it operates. These and other risks can be found in the prospectus.
This information is not an offer to sell or a solicitation of an offer to buy shares of any Funds to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Please consult your tax advisor about the tax consequences of an investment in Fund shares, including the possible application of foreign, state, and local tax laws. You could lose money by investing in the ETFs. There can be no assurance that the investment objective of the Funds will be achieved. None of the Funds should be relied upon as a complete investment program.
Survey of U.S. Consumers Shows 3% Year-over-year Decrease in Intent to Buy Trucks, SUVs
U.S. Consumers Indicate 3% Increase in Intent to Buy Cars
Main Reason Consumers Indicate Changing Purchase Intent is Affordability
Inflation at 7-month High Adds to American Consumer Affordability Issues
“Peak Truck” One of Several 2025 Trends to Watch as Identified in Dave Cantin Group’s 2025 Market Outlook Report
NEW YORK, Feb. 13, 2025 (GLOBE NEWSWIRE) — Evidence is mounting that “peak truck” is a U.S. economic trend to watch in 2025 as American consumers struggle with vehicle affordability, according to the Dave Cantin Group Market Outlook Report.
Dave Cantin Group (DCG), a leading mergers and acquisitions advisory company to retail automotive groups and their owners, identified “peak truck” as one of its key trends to watch in its 2025 Market Outlook Report issued this month. Rather than reflecting a lack of interest in trucks and SUVs among American consumers, the DCG report, as discussed on CNBC yesterday, reflects American consumers’ growing struggle to afford a new vehicle. The average purchase price for cars now hovers around $37,400, for SUVs and CUVs is more than $43,600 and for pickups is $54,600.
“This isn’t just an automotive story, it’s an American consumer story,” Dave Cantin Group President and CEO Dave Cantin said. “It’s not a declining interest in trucks. We’re not saying that segment is going away. But the consumer survey we conducted as part of our Market Outlook Report finds that the American consumer is feeling the cost pressure of rising prices.”
“In response, we see a decline in the number of people who believe their next purchase will be a truck or SUV and an equivalent increase in the number who intend to purchase a car. Add to that the report that inflation hit a 7-month high in January, and we’re seeing even more evidence that peak truck is a real trend to watch.”
Peak Truck Indicators:
A Shift in Consumer Spending: Consumers’ intent, not necessarily interest, is shifting toward cars because of rising average prices and the need for more affordable monthly payments.
Affordability Drives the Shift: Data from the DCG Market Outlook Report, conducted by Kaiser Associates, captured the perspectives of roughly 1,100 consumers and reveals that consumer intent to purchase cars increased by 3%, reaching 29%, in 2024, while intent to buy trucks has decreased by 2%. While SUVs remain the most popular body type, consumer intent to buy dropped 1% for SUVs from 2023.
Changing Demographics and Preferences: The report highlights a pronounced shift among older consumers, with the 35–54 and 75+ age groups increasingly favoring sedans. Additionally, tighter budgets — especially among buyers earning between $75,000 and $100,000 — are prompting a move from SUVs to more affordable car options.
Marketwide Impact: The “peak truck” phenomenon is just one manifestation of broader affordability issues. With prolonged high interest rates pushing consumers to closely scrutinize their monthly expenses, the record average age of vehicles on the road (12.6 years overall and 14 years for passenger cars, according to S&P Global Mobility) further illustrates the reluctance to invest in new, higher-priced vehicles.
Inflation’s Role: Compounding these trends, U.S. inflation unexpectedly rose to 3 percent in January, a 7-month high. This inflationary spike confirms that consumers continue to face cost pressures, reinforcing their focus on affordability and likely accelerating the shift away from higher-priced trucks and SUVs toward sedans and lighter-trim models that offer lower monthly payments.
Broader Industry Implications: Manufacturers are responding to these market signals by shipping vehicles with fewer bells and whistles to dealers, an approach designed to help reduce costs for buyers. Additionally, value-driven brands such as Hyundai and Kia are seeing increased interest as consumers search for quality vehicles that align with their tightened budgets.
“The automotive industry has always been an early economic barometer, and what we’re seeing now – that Americans may have hit max capacity for the largest, most expensive vehicles, at least for now – is a clear indicator of the cost-of-living pressures facing the American consumer and the overall economy,” DCG Chief Business and Strategy Officer Brian Gordon said. “This is a trend that will continue to play out and has the potential to fundamentally reshape manufacturer strategies and what ends up on dealer lots. It’s a trend we see continuing to define the market into 2025.”
For additional details, please refer to the Dave Cantin Group Market Outlook Report here.
About Dave Cantin Group
The Dave Cantin Group is a leading automotive M&A advisory company specializing in acquisitions, divestitures, intelligence, and other advisory services. The company is the M&A services provider of choice for North America’s top automotive dealership groups, advising on approximately 40 transactions annually. DCG is differentiated by its advisory approach, long-term lens on client relationships, and commitment to market intelligence tools that inform DCG and client strategies. In 2023, DCG became the only retail automotive M&A company with a significant strategic investor, welcoming Kaltroco to the DCG family.
Through its M&A intelligence division, DCG produces automotive content and delivers relevant, timely marketing intelligence, including the automotive industry Market Outlook Report (MOR). Together with CBT News, DCG produces the Inside M&A studio show and podcast to share stories, news and trends impacting the retail automotive industry. DCG’s proprietary AI-enabled software, Jump IQ, anchors its advisory services that support retail automotive dealers in developing informed M&A strategies and making smarter M&A decisions.
The company’s nonprofit initiative, DCG Giving, funds child and adolescent cancer research and treatment in communities nationwide and other worthy charitable initiatives. DCG team members regularly feature on the industry speaking circuit and are regularly cited by top national and global news outlets. For more information, please visit davecantingroup.com.
NEW YORK, Feb. 13, 2025 (GLOBE NEWSWIRE) — Voltus, Inc. (Voltus), the leading distributed energy resource (DER) software platform and virtual power plant operator, and Enertiv, the operational intelligence platform for commercial real estate, announced today a strategic partnership that unlocks new demand response revenue opportunities for Enertiv’s commercial real estate customers, by integrating Voltus’s industry-leading demand response offering into Enertiv’s comprehensive platform.
This partnership allows Enertiv’s customers to participate in Voltus’s demand response programs, earning revenue, reducing monthly electricity bills, and avoiding carbon emissions. The partnership also unlocks additional energy usage data for Enertiv’s customers, which they can then use to further improve their energy procurement and risk management strategies as well as advance sustainability goals within their portfolios.
“This partnership is a game changer for both owners and their tenants,” said Connell McGill, CEO and Founder at Enertiv. “Capturing utility data for reporting is only the first step. The key to decarbonization across commercial real estate is to transform that data into value. Adding demand response to our existing landlord and tenant portals is a no-brainer, helping our customers and their tenants earn additional revenue while improving their sustainability.”
The partnership is active across all wholesale markets in the U.S. and Canada. Landlords already signed up with Enertiv can integrate the Voltus platform, leveraging Enertiv’s device-level metering data to analyze and surface demand response opportunities, without the need for additional hardware installations.
“Commercial buildings in the United States are responsible for 18% of the country’s greenhouse gas emissions. This partnership allows commercial real estate customers to comply with building regulations while creating new revenue streams,” said Dan Svejnar, SVP of Growth at Voltus.
About Enertiv Enertiv is a SaaS platform built to decarbonize commercial real estate. By collecting and verifying real-time utility data, Enertiv maximizes data coverage, automates reporting, and delivers actionable energy-saving insights for landlords and tenants. The world’s largest real estate owners and operators, including Starwood Capital Group, Prologis, Panattoni, and Related, use Enertiv to power ESG reporting, asset optimization, and decarbonization. Learn more at www.enertiv.com.
About Voltus Voltus is a leading DER technology platform and virtual power plant operator connecting distributed energy resources to electricity markets, delivering less expensive, more reliable, and more sustainable electricity. Our commercial and industrial customers and DER partners generate cash by allowing Voltus to maximize the value of their flexible load, distributed generation, energy storage, energy efficiency, and electric vehicle resources in these markets. To learn more, visit www.voltus.co.
This disclosure supersedes the previous one which contained the wrong date in section 1(e)
FORM 8.3
PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”)
(b)Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
N/A
(c)Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree
LEARNING TECHNOLOGIES GROUP PLC
(d)If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:
N/A
(e)Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure
11 FEBRUARY 2025
(f)In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state “N/A”
N/A
2.POSITIONS OF THE PERSON MAKING THE DISCLOSURE
If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.
(a)Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)
Class of relevant security:
0.375p ORDINARY
Interests
Short positions
Number
%
Number
%
(1)Relevant securities owned and/or controlled:
9,641,106
1.2166
(2)Cash-settled derivatives:
(3)Stock-settled derivatives (including options) and agreements to purchase/sell:
TOTAL:
9,641,106
1.2166
All interests and all short positions should be disclosed.
Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).
(b)Rights to subscribe for new securities (including directors’ and other employee options)
Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:
3.DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE
Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.
The currency of all prices and other monetary amounts should be stated.
(a)Purchases and sales
Class of relevant security
Purchase/sale
Number of securities
Price per unit
0.375p ORDINARY
SALE
3,620
99.2p
(b)Cash-settled derivative transactions
Class of relevant security
Product description e.g. CFD
Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position
(d)Other dealings (including subscribing for new securities)
Class of relevant security
Nature of dealing e.g. subscription, conversion
Details
Price per unit (if applicable)
NONE
4.OTHER INFORMATION
(a)Indemnity and other dealing arrangements
Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”
NONE
(b)Agreements, arrangements or understandings relating to options or derivatives
Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i)the voting rights of any relevant securities under any option; or (ii)the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state “none”
NONE
(c)Attachments
Is a Supplemental Form 8 (Open Positions) attached?
NO
Date of disclosure:
12 FEBRUARY 2025
Contact name:
MARK ELLIOTT
Telephone number:
01253 376539
Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.
The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.
PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”)
(b)Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
N/A
(c)Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree
LEARNING TECHNOLOGIES GROUP PLC
(d)If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:
N/A
(e)Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure
12 FEBRUARY 2025
(f)In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state “N/A”
N/A
2.POSITIONS OF THE PERSON MAKING THE DISCLOSURE
If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.
(a)Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)
Class of relevant security:
0.375p ORDINARY
Interests
Short positions
Number
%
Number
%
(1)Relevant securities owned and/or controlled:
9,494,764
1.1981
(2)Cash-settled derivatives:
(3)Stock-settled derivatives (including options) and agreements to purchase/sell:
TOTAL:
9,494,764
1.1981
All interests and all short positions should be disclosed.
Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).
(b)Rights to subscribe for new securities (including directors’ and other employee options)
Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:
3.DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE
Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.
The currency of all prices and other monetary amounts should be stated.
(a)Purchases and sales
Class of relevant security
Purchase/sale
Number of securities
Price per unit
0.375p ORDINARY
SALE
100,000
99.24p
0.375p ORDINARY
SALE
50,000
99.241p
0.375p ORDINARY
PURCHASE
3,658
99.3869p
(b)Cash-settled derivative transactions
Class of relevant security
Product description e.g. CFD
Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position
(d)Other dealings (including subscribing for new securities)
Class of relevant security
Nature of dealing e.g. subscription, conversion
Details
Price per unit (if applicable)
NONE
4.OTHER INFORMATION
(a)Indemnity and other dealing arrangements
Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”
NONE
(b)Agreements, arrangements or understandings relating to options or derivatives
Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i)the voting rights of any relevant securities under any option; or (ii)the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state “none”
NONE
(c)Attachments
Is a Supplemental Form 8 (Open Positions) attached?
NO
Date of disclosure:
13 FEBRUARY 2025
Contact name:
MARK ELLIOTT
Telephone number:
01253 376539
Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.
The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.
PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”)
(b)Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
N/A
(c)Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree
ALLIANCE PHARMA PLC
(d)If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:
N/A
(e)Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure
12 FEBRUARY 2025
(f)In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state “N/A”
N/A
2.POSITIONS OF THE PERSON MAKING THE DISCLOSURE
If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.
(a)Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)
Class of relevant security:
1p ORDINARY
Interests
Short positions
Number
%
Number
%
(1)Relevant securities owned and/or controlled:
12,245,709
2.2654
(2)Cash-settled derivatives:
(3)Stock-settled derivatives (including options) and agreements to purchase/sell:
TOTAL:
12,245,709
2.2654
All interests and all short positions should be disclosed.
Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).
(b)Rights to subscribe for new securities (including directors’ and other employee options)
Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:
3.DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE
Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.
The currency of all prices and other monetary amounts should be stated.
(a)Purchases and sales
Class of relevant security
Purchase/sale
Number of securities
Price per unit
1p ORDINARY
SALE
7,373
61.4084p
(b)Cash-settled derivative transactions
Class of relevant security
Product description e.g. CFD
Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position
(d)Other dealings (including subscribing for new securities)
Class of relevant security
Nature of dealing e.g. subscription, conversion
Details
Price per unit (if applicable)
NONE
4.OTHER INFORMATION
(a)Indemnity and other dealing arrangements
Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”
NONE
(b)Agreements, arrangements or understandings relating to options or derivatives
Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i)the voting rights of any relevant securities under any option; or (ii)the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state “none”
NONE
(c)Attachments
Is a Supplemental Form 8 (Open Positions) attached?
NO
Date of disclosure:
13 FEBRUARY 2025
Contact name:
MARK ELLIOTT
Telephone number:
01253 376539
Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.
The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.
Police announced today that they will implement special traffic arrangements in view of the 2025 Shenzhen-Hong Kong marathon and the 15th National Games athletics (marathon) test event to be held in the two cities on February 23.
Clearance services at Shenzhen Bay Port will be suspended until about 11am on that day.
Moreover, temporary control measures will be implemented at Shenzhen Bay Bridge, Kong Sham Western Highway and Ha Tsuen Interchange from 2am to about 11am. These will be closed to all traffic from eastbound and westbound Yuen Long Highway, and Ha Tsuen Road.
During the suspension of clearance services, cross-boundary goods vehicles and private cars holding valid permits for Shenzhen Bay Port may divert to Lok Ma Chau/Huanggang Port, Man Kam To Port and Heung Yuen Wai Port.
After Shenzhen Bay Port’s clearance services have resumed, traffic arrangements will be implemented by phases, depending on actual conditions, Police added.
2025-23 DEPARTMENT OF THE ATTORNEY GENERAL HOSTS FIRST EVER ONLINE ASSET FORFEITURE AUCTION
Posted on Feb 12, 2025 in Latest Department News, Newsroom
STATE OF HAWAIʻI
KA MOKU ʻĀINA O HAWAIʻI
DEPARTMENT OF THE ATTORNEY GENERAL
KA ʻOIHANA O KA LOIO KUHINA
JOSH GREEN, M.D. GOVERNOR
KE KIAʻĀINA
ANNE LOPEZ
ATTORNEY GENERAL
LOIO KUHINA
DEPARTMENT OF THE ATTORNEY GENERAL HOSTS FIRST EVER ONLINE ASSET FORFEITURE AUCTION
News Release 2025-23
FOR IMMEDIATE RELEASE
February 12, 2025
HONOLULU –The Department of the Attorney General, Civil Recoveries Division’s Asset Forfeiture Program is conducting a live, online auction beginning February 18. It is the first time Hawaiʻi is staging an online auction for this program.
“Prior to the COVID pandemic, we previously held live auctions quarterly at the Blaisdell Center,” said Asset Forfeiture Program Manager Kern Nishioka. “While online auctions are not a new idea, the launch of our auction website is a first for our office.”
The initial selection is primarily cars and trucks. Other items for sale include a commercial fishing boat and trailer, and Morgan silver dollar coins.The department’sAuction Items Preview pagehas a list of the cars, trucks and SUVs that will be featured in the upcoming live online auction.
The first items will go live on the department’sonline auction pagestarting at 3 p.m. on February 18. Listings will be added as they become available. Auction closure dates will vary between items.
To participate in the online auction, a free eHawaii.gov account is required. Participants must be 18 and over. To register, and for more information on the requirements/restrictions and how to place bids, go to the department’sonline auction pageas well as the Department of the Attorney General’sAsset Forfeiture Program page.
The proceeds generated from auctions are used to fund law enforcement activities such as training and equipment, as well as to support program expenses.
# # #
Access to the Auction Car Dropbox video album is here –Auction Cars Video
ZURICH and LONDON, Feb. 13, 2025 (GLOBE NEWSWIRE) — Twelve Capital and Securis Investment Partners have completed the final steps of the merger, establishing Twelve Securis as a global leader in the field of Insurance-Linked Securities (ILS). This strategic move unites a wealth of expertise, complementary skill sets, and a shared dedication to innovation in insurance investment.
With USD 8.5 billion in assets under management, Twelve Securis is strategically positioned to expand investment opportunities in catastrophe bonds, private ILS, and broader insurance markets. With a strong focus on performance generation under rigid investment governance, the firm will continue to pioneer investment solutions by integrating proprietary catastrophe risk models with market-leading technology. Its research-driven approach and strong structuring expertise ensure cost-effective, transparent investment vehicles that meet the evolving needs of institutional investors.
Urs Ramseier, CEO of Twelve Securis, commented: “This merger marks a new era for insurance-linked investments. By bringing together two highly experienced teams with a shared vision, we are strengthening our ability to deliver outstanding investment solutions to our global client base and create long-term value for them.”
Cyrus Jilla, Chairman of Twelve Securis, said: “We are excited about the creation of Twelve Securis. The firm is strategically positioned to capitalise on new opportunities in the evolving insurance and ILS landscape, leveraging its scale, expertise, and client-centric approach.”
The transition has been carefully structured to ensure continuity for clients and employees. Twelve Securis remains committed to independence and delivering best-in-class service as it enters this next phase of growth.
For further information please contact Twelve Securis at:
Twelve Securis, formed from the merger of Twelve Capital and Securis Investment Partners, is a leading insurance-focused investment manager. Specialising in Cat Bonds and Private ILS, we offer research-driven investment solutions capturing alternative risk premia. Our extensive team of experts ensures transparency, innovation, and products designed for a diverse global client base.
MIAMI, Feb. 13, 2025 (GLOBE NEWSWIRE) — Defiance ETFs is excited to introduce Battleshares™ Exchange-Traded Funds (ETFs), an innovative suite of ETFs designed to capture competitive market dynamics and capitalize on strategic market rivalries within leading industries. The suite will feature a range of distinct ETFs, each crafted to help investors benefit from evolving market competition.
Introducing ELON: The First in the Battleshares™ Series The first ETF in the Battleshares™ lineup is the Battleshares™ TSLA vs. F ETF (Ticker: ELON). This actively managed fund embodies market competition, highlighting the dynamic rivalry between what the advisor believes to be an industry disruptor Tesla (TSLA) and legacy competitor Ford (F). The Fund’s strategy involves a leveraged long position in TSLA, generally targeting +200% of the Fund’s net assets, paired with a leveraged short position in F, generally targeting -100% of the Fund’s net assets. ELON provides investors with a unique opportunity to gain exposure to the ongoing transformation within the automotive sector, capitalizing on the divergence between innovation and tradition.
A Competitive Edge for Forward-Thinking Investors Battleshares™ ETFs employ a unique long/short investment strategy, going long on industry innovators while shorting their legacy competitors. This approach enables the funds to potentially generate returns across various market conditions while focusing on single-stock opportunities. The funds will cover sectors such as technology, retail, financial services, and automotive.
“We are thrilled to introduce Battleshares™ ETFs, starting with ELON,” said Sylvia Jablonski, Chief Executive Officer & CIO of Defiance ETFs. “This suite is designed to empower investors with strategic tools that harness industry disruption and market evolution.”
Key Features of the Battleshares™ ETFs:
Actively Managed Strategies: A long/short investment approach to capitalize on market dynamics.
Industry-Specific Focus: Targeting sectors including semiconductors, financial services, and renewable energy.
Leveraged Exposure: Structured to magnify returns through leveraged long and short positions.
Innovation-Driven: Funds such as ELON prioritize transformative market trends and technological advancements.
The Battleshares™ TSLA vs. F ETF (Ticker: ELON) will be listed on the NYSE, offering investors a unique opportunity to participate in the competitive dynamics of transformational growth sectors.
About Defiance ETFs Established in 2018, Defiance leads in ETF innovation. Our pioneering leveraged ETFs enable investors to amplify positions in innovative strategies, offering precise leveraged exposure without requiring a margin account.
For more information about Battleshares™ ETFs and the Battleshares™ TSLA vs. F ETF (Ticker: ELON), please visit https://www.battle-shares.com.
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (866) 532-3886 or visit our website atwww.battle-shares.com. Read the prospectus or summary prospectus carefully before investing.
None of the Fund, the Trust, the Adviser, or their respective affiliates makes any representation to you as to the performance of TSLA or F. THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH TESLA, INC. or FORD MOTOR COMPANY.
Investing involves risk. Principal loss is possible. As an ETF, the funds may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. A portfolio concentrated in a single industry or country, may be subject to a higher degree of risk. There is no guarantee that the Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment.
TSLA Risk (Long Position). The Fund invests in TSLA either directly or indirectly through derivative instruments (i.e., via options and swaps). Through its long position, the Fund is subject to the risk that TSLA’s share price decreases. If the share price of TSLA decreases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. Therefore, as a result of the Fund’s exposure to the value of TSLA, the Fund may also be subject to the following risks: Indirect Investment in TSLA Risk. Tesla, Inc. is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way and has no obligation to consider your Shares in taking any corporate actions that might affect the value of Shares. Investors in the Fund will not have voting rights and will not be able to influence management of Tesla, Inc. but will be exposed to the performance of TSLA (the underlying stock). Investors in the Fund will not have rights to receive dividends or other distributions or any other rights with respect to the underlying stock but will be subject to declines in the performance of the underlying stock. Tesla, Inc. Performance Risk. Tesla, Inc. may fail to meet its publicly announced guidelines or other expectations about its business, which could cause the price of TSLA to decline. Electric Vehicles Risk. The future growth and success of Tesla, Inc. are dependent upon consumers’ demand for electric vehicles, and specifically, its vehicles in an automotive industry that is generally competitive, cyclical and volatile. If the market for electric vehicles in general and Tesla, Inc. vehicles in particular does not develop as Tesla, Inc. expects, develops more slowly than it expects, or if demand for its vehicles decreases in its markets or its vehicles compete with each other, the business, prospects, financial condition and operating results of Tesla, Inc. may be harmed.
Ford Price Appreciation Risk (Short Position). As part of the Fund’s short strategy, the Fund may sell F shares short, either directly or through the use of derivatives. By virtue of the Fund’s indirect inverse exposure to changes in the share price of F, the Fund is subject to the risk that F’s share price increases. If the share price of F increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: Ford’s ability to gain market share in the electric vehicle market may enhance its market position and result in increased stock prices. Market share gains against key competitors, such as TSLA, in the electric vehicle market may further support Ford’s stock performance. Moreover, strategic partnerships and successful acquisitions could drive significant growth and lead to stock appreciation. Favorable macroeconomic and industry conditions, including strong global demand for automobiles, may contribute to robust financial performance for Ford. Ford may benefit from favorable geopolitical developments, including advantageous trade policies or improved relations with key markets, such as China, which could positively impact its operations and stock performance. Conversely, any significant challenges faced by competitors, such as product delays or supply chain issues, may reduce competition and contribute to Ford’s stock outperformance.
Leveraging Risk. The Fund’s use of leverage amplifies both potential gains and potential losses, which can result in significant volatility and higher risk for investors. Specifically, TSLA, the Fund’s leveraged long position (“Long Position”) and, F, leveraged short position (“Short Position”) expose the Fund to heightened risk if the Long Position performs poorly while the Short Position performs well. If the value of the Long Position declines, the Fund’s leveraged exposure could result in losses that are magnified by the leverage factor, potentially exceeding the losses that would occur in an unleveraged position. For example, if the Fund’s Long Position is at +200% of net assets, a 10% decline in the value of the Long Position could translate into a 20% loss for the Fund’s net asset value attributable to that position. Conversely, if the value of the Short Position increases, the Fund’s leveraged short exposure could also lead to magnified losses. If the Short Position is at -100% of net assets, a 10% rise in the value of the Short Position could result in a 10% loss for the Fund’s net asset value attributable to that position.
Derivatives Risk. The Fund’s derivative investments carry risks such as an imperfect match between the derivative’s performance and its underlying assets, and the potential for loss of principal, which can exceed the initial investment.
Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund. As a result, a decline in the value of an investment in a single issuer or a smaller number of issuers could cause the Fund’s overall value to decline to a greater degree than if the Fund held a more diversified portfolio.
New Fund Risk. As of the date of the prospectus, the Fund has no operating history and currently has fewer assets than larger funds. Like other new funds, large inflows and outflows may impact the Fund’s market exposure for limited periods of time. Brokerage Commissions may be charged on trades.
