Port Moody council has been able to significantly whittle down its proposed property tax increase, approving a 5.71 percent bump for its provisional 2025 budget. The interim figure was discussed at a finance committee meeting on Dec. 17, with council managing to slash around seven percent since budget deliberations began in October. Mayor Meghan Lahti said this year’s budget came with challenges she’s never experienced in her 25 years in office, noting the consumer price index has risen nearly 14 percent since council took office. “That is astronomical,” Lahti said. “It was really important to show our willingness to reduce the budget in areas that are priorities for us, because we are responding to the public’s desire to see a lower tax increase.” Port Moody’s taxpayers have faced a combined 15.89 percent tax hike over the previous two budget cycles. Public frustration was reflected in this year’s budget consultations, with over half of respondents opposed to any increases in 2025. Approximately 70 percent of the city’s $90 million budget is funded through taxation, with the city’s provisional budget adding an additional $3.3 million from last year, amounting to $167 more for the average household. Staff’s initial tax proposal pitched a 10.85 percent when deliberations began, which council reduced to 8.52 percent following two workshops. However, reductions in the BC Assessment roll and increased labour costs and benefits added another $1.25 million, bringing the figure back up to 10.3 percent. Council has since made substantial cuts for a further $2.68 million reduction, or 4.59 percent. This includes pausing the city’s Climate Action Levy for a year ($584,000); using accumulated surplus to fund community events, inclusionary initiatives and previously deferred items ($695,000); reducing various reverse transfers ($319,000); decreasing services levels ($317,000); budget reductions ($150,000); eliminating or phasing in new budget requests ($192,000); and adjusting sick-time and vacation benefits ($150,000). The city has also recalculated the amount of revenue it expects from pay parking, recreation, filming, leasing and businesses licensing, adding $345,000. Paul Rockwood, general manager of finance and technology, said “tough economic times require tough measures.” He said the city significantly underestimated the amount of tax revenue it would bring in from new growth. Originally, staff expected to net an additional $584,000, but less than a quarter of that was realized. “We had very minimal taxation growth this year,” Rockwood said. “But we are facing increased demand, internally and externally for a variety of services.” Lahti said she’s seen a lot of public commentary regarding the lack of tax revenues from new growth, but cautioned it takes time before it shows up on the city’s balance sheet. She said she anticipates more money will be realized after a new BC Assessment roll occurs in 2025. “Hopefully next year will be a much more positive outcome for all the work that we’re putting in to provide housing,” Lahti said. “We want to see that translated into a reduction in our taxes, or at least some breathing room.” Council was defensive regarding the recent budget increases, with some members taking aim at previous council’s decisions, social media chatter, and media reporting. Coun. Kyla Knowles attacked what she described as “rampant misinformation and spin” on social media. She said comparisons with the former council’s budgets were unfair, pointing to inflationary impacts, and budget reductions from in-person events and positions being cut during the COVID-19 pandemic. Knowles also asserted the former council drained the growth-stabilization reserve, which added $400,00 annually to city coffers to help ease the loss of its industrial tax base. “The previous council depleted it to their great benefit, and it’s a shame that it didn’t continue to get topped up as we went along,” Knowles said. Couns. Callan Morrison and Samantha Agtarap both took issue with a Global News story, which ranked Port Moody’s initial 8.52 percent increase as the highest in the Lower Mainland. Agtarap said such comparisons are inevitable, but argued it is not fair to compare Port Moody to municipalities with casinos, which receive 10 percent of their net revenues. “For a community like Richmond, that’s over $12 million, and for Coquitlam, that’s almost $7 million (annually),” she said. Coun. Diana Dilworth warned of continued instability in the coming years. “There’s not a lot of certainty that any local government has at this time,” she said. She noted the Canadian dollar continues to drop, federal rebate cheques have been cancelled, and the entire political landscape could change by the next federal election. Dilworth suggested the growth-stabilization reserve ought to be re-established, stating it was initially set up in the 1990s to help ease tax impacts. Council voted to have staff report back with a strategic plan and policy to create a new reserve, dubbed by Lahti as the rate-stabilization reserve. Port Moody has until May 15 to pass the official budget.
Generative AI (GenAI) is changing the game for businesses and becoming a new tool for fraudsters. Regulating AI and expanding the role of technology actors in the financial services sector is essential to curb the evolution of fraud. According to the 2024 State of Scams Report by & , banking fraud and scams led to losses of US$1 Trillion Globally. These significant losses highlight that it is more important than ever for banks to stay one step ahead of criminals. Banks need to shift from responding to fraud to preventing it. With existing tactics like social engineering, access to sensitive information released on the dark web due to data breaches, social media, and stolen banking data, fraudsters can massively enhance their scams. Not only can fraudsters create new identities faster, but GenAI also lends these identities greater credibility. The ability to create fake images, videos, or even false voice recordings allows fraudsters to construct a character with its own fabricated identity from scratch. With the capacity to pass authentication checks, generative AI becomes a powerful tool for financial crime. In this context, banks will be tempted to question the authenticity of every interaction as these tools become more widespread and advanced. Thanks to generative AI, call centers can now quickly gather information about their targets, learn organizational operations, and tailor attacks to specific banks. This is particularly concerning for new account fraud and account opening requests. Criminals can use GenAI tools to learn the different layouts and steps of a bank’s screens. With this knowledge of how different organizations function, criminals can write scripts to quickly fill out forms and create seemingly credible identities to commit account opening fraud. Banks will no longer only need to ask, “Is this the right person?” but also, “Is my client human or AI?” Businesses need advanced fraud prevention tools to protect themselves against AI-driven threats. AI-powered fraud detection systems enable organizations to analyze vast amounts of transaction data in real-time, uncover hidden patterns and warning signals that traditional methods might miss. Alerts generated by AI should include clear explanations so that human analysts can understand the reasoning behind potential issues and make informed decisions. AI algorithms can be biased and require constant monitoring and improvement. This is why human expertise remains a crucial element in AI-based decision-making. Banks can use AI to take proactive measures by predicting future risks through risk assessment. However, banks using AI for credit evaluation or fraud detection, among other applications, must ensure their systems are effective, ethical, transparent, and accountable. Collaboration is becoming key, as banks are increasingly joining forces with other financial institutions, including fintechs and regtechs. The goal is to share data and knowledge to strengthen defenses against cross-border fraud systems. However, banks are hesitant to share information if they fear exposing themselves to legal issues. To improve data sharing and collaboration, regulators must clarify or ease their stance toward banks. The goal is collaboration, but greater clarity is needed at the highest levels to ensure data is shared correctly. Financial institutions can also optimize resource allocation with data-driven insights, focusing their attention on high-risk cases. This reduces the need for exhaustive manual investigations into every transaction, allowing teams to prioritize their efforts effectively. As a result, organizations can enhance efficiency and reduce costs by preventing the most significant fraud cases. Banks need AI and machine learning to detect and prevent fraud in real-time. Fraud analytics not only help reduce potential losses but also build customer trust in their banks. Fraud analytics combines artificial intelligence (AI), machine learning, and predictive analytics for advanced data analysis, enabling banks to process large volumes of data and quickly derive insights to respond in real-time to suspected fraud. Based on our experience with US banks, these banks are now able to detect half of potentially fraudulent transactions. However, the use of AI and machine learning has enabled them to detect 60% of fraud, preventing millions in potential fraud losses. Additionally, GenAI capabilities have reduced false positives by 40%, allowing banks to provide a more transparent and frictionless customer experience. In the era of big data, banks can no longer rely solely on traditional rule-based systems to detect fraudulent transactions. Fraudsters quickly learn a bank’s rules and find ways to commit fraud without being detected. Each new fraud tactic brings new learning, pushing banks into an endless game of cat and mouse. For banks and financial institutions, the evolving regulatory landscape around AI presents both challenges and opportunities. On one hand, institutions must be agile in updating their AI-driven processes to comply with new guidelines while considering potential liabilities. On the other hand, adherence to these principles can strengthen customer and stakeholder trust, which is highly valuable in the financial world. Xin Ren is Senior Director of Data Science at She has been working in the Financial industry for over 10 years and specialized in delivering AI-based strategy and bringing data science best practices to the clients. | | | | | |A 46 year old former model who pleaded guilty to dangerous driving causing the death of a mother of two had consumed 12 alcoholic drinks, which included cocktails, prosecco, wine and gin, in the hours before the crash. Ms Sheila Dunne (50) who was described by her daughter as “an amazing woman — worth her weight in gold’ died following a single vehicle crash in Sarsfield Court in Glanmire in Cork last February. Poignantly, her husband Ted had died of Covid 19 in February of 2021. The death of Ms Dunne left their two children without any living parent. The special needs assistant, was just 1.5 km from her home in Glanmire when the crash that ended her life occurred. Read more: Cost of living Ireland: Full list of social welfare payments excluded from yearly €780 increase Read more: Social welfare Ireland: One group to be paid the Christmas Bonus twice Jennifer Thomas of Oakfield View, Glanmire, Co Cork appeared before Cork Circuit Criminal Court on Tuesday having pleaded guilty to dangerous driving causing the death of Sheila Dunne on February 11 last. Defence counsel Tom Creed, SC, told Judge Helen Boyle that “unfounded social media rumours” and inaccurate newspaper reports had circulated in the wake of the crash. He said that “malicious rumours” had spread in Cork that the body of Sheila Dunne had been moved in the vehicle. Investigating garda Dt Garda Mark Durcan confirmed that there was no truth to any suggestions that Jennifer Thomas or any other person had moved the body of Sheila Dunne following the crash. Detective Garda Durcan said that the accident occurred at 7.30pm on February 11 last at Sarsfield Court in Glanmire in Cork. Ms Thomas had been socialising with Sheila, her friend of over twenty years, from lunchtime that day when they went for a meal at a restaurant in Douglas in the city. They went to a bar in Blackrock in Cork and then on to a bar in Glanmire prior to getting in to Jennifer’s jeep. Dt Garda Durcan said that in the minutes before the crash occurred Jennifer fell asleep before the wheel twice whilst stopped at traffic lights. On one occasion a passer by observed that Jennifer was asleep and knocked on the window of the jeep telling her to park up. Instead she did two U turns in a matter of minutes and drove on the wrong side of the road at Hazelwood Road in Glanmire. She knocked down traffic cones as she drove towards Sallybrook and narrowly missed knocking down two pedestrians on the footpath. Dt Garda Durcan said that Ms Thomas took a left hand bend at Sarsfield Court in Glanmire and failed to straighten up entering a grass verge. The Bluetooth system in the car automatically called the emergency services. Speed was not a factor in the case. Dt Garda Durcan said that Ms Thomas was wearing her seat beat when the collision occurred. However Sheila Dunne was not. He indicated that the impact of the collision led Sheila, who was in the front passenger seat, to fall on top of Jennifer Thomas. Dt Garda Durcan said that roof had to be cut off the vehicle in order to extricate the women. He stated that when gardai arrived at the scene Jennifer Thomas was asked who was driving. She said that she was and then she “got erratic” and was unable to give a definitive answer. She then said that Sheila Dunne was driving as she had “more control.” When she was shown CCTV at a later date by gardai Ms Thomas accepted that she was driving. She also said said she had no recollection of the collision due to concussion. However, there was no medical evidence of concussion. Ms Dunne died in hospital two days after the crash. Lilley Dunne, the 23 year-old daughter of Sheila Dunne, said in her victim impact statement that she came to court with a “shattered heart” weighed down heavily by the loss of her “rock of a mother” Sheila. Lilley delivered her own victim impact statement and said she would forever miss her precious mother whom she described as a “pillar” in the community. She said that she was speaking on behalf of herself and her younger brother. “I stand before you today as his voice and to outline the devastation we have both endured. I want to try and express as vividly as I can how this tragic event has destroyed my life, my brother’s world and and our family unit as we know it.” Lilley said that she and her brother head already suffered the “unbearable” loss of their father Ted. “Now to experience the agonising loss of Mom, feels like a cruel twist of fate that I cannot comprehend. "On February 9, 2021 my dad died unexpectedly from Covid. We had to watch him take his last few breaths as they removed his ventilator, and then on February 13, 2024 I had to watch this all over again: watch my Mom’s heart slow to a halt. "This experience is what I can only describe as hell. My beautiful Mom was taken from us far too soon at the young age of fifty. In a car crash caused by a reckless decision made by a selfish individual. This choice has altered our lives forever. "We spent two days at my mom’s bedside hoping for a miracle. Out of respect, I made the decision to allow Jennifer to come in to say goodbye to my Mom. Knowing what I know now my decision would have been different.” Ms Dunne said that Jennifer’s absence of remorse had made the “grieving process so much more challenging". “It is incredibly painful to know that someone who withhold the truth in such a devastating way and it makes it harder to heal from this loss.” Lilley said that her mother would miss all the special milestones of her life such as her wedding and watching her become a mother. Ms Dunne insisted that Jennifer’s “malicious lies” trickled out to the “media vultures.” “Compounding our grief. Newspapers and social media outlets covered the story and reported that my Mom was the driver of the car. Jennifer’s complete fabrication painted a picture of my Mom, Sheila, that was far from the truth sensationalising the tragedy and worsening our family suffering.” Ms Dunne added that the life of her mother was “robbed” from her. “She has only started to live her life again after Dad’s passing. She will never get the opportunity to finish her bucket list, to see out the drams she had for her future or to watch TJ and I grow up.” Sheila’s mother Esther O’Brien said that she was “heartbroken” to have lost her daughter to a drunk driver. “This loss has not only shattered my life but has also left two precious grandchildren without their mother. My daughter was my biggest support. She was always there for me, providing love, care and companionship. We shared a deep bond, and she was my confidante, my source of strength. "Losing her has taken away my main support system at a time in my life when I need it most. "This is something no mother could anticipate. I grapple with anger and sadness — not just for my daughter but also for the reckless choice that led to this loss. It is hard to trust and feel safe in the world when someone’s selfish decision has had such devastating consequences. "My daughter was not only my child but my life source. Her absence has changed everything for me and for my grandchildren. Only for them life is not worth living. I will carry this pain with me for the rest of my life.” The court heard that Ms Thomas had ten previous convictions for road traffic offences, larceny and misuse of drugs. Defence barrister Tom Creed, SC, said that his client’s previous convictions for larceny and misuse of drugs occurred when she was a teenager. He emphasised that witnesses who arrived at the scene of the crash described his client as being distraught at the possibility that Sheila could have died. “(One eye witness) said she (Jennifer) was saying ‘please wake up please wake up’ to Miss Dunne. They tried to calm her. She (Jennifer) was saying ‘How can I live without her?” She was concerned for her friend. She (Jennifer) was hysterical. She was saying ‘look after Sheila.’ She appeared to be confused.” He said that unfortunately following this accident all sorts of “unfounded allegations” circulated in Cork. “One was that a phone call was made for someone to come to scene to move bodies. One was that she (Ms Thomas) was arrested for a charge of perverting course of justice which was never case. She voluntarily came to the station.” Mr Creed said that his client has suffered from long term mental health difficulties and often wishes that she died during the crash. He added that Ms Thomas was hugely remorseful for her actions. Mr Creed said that his client accepted that getting behind the wheel drunk was an “outrageous” thing to do. Judge Boyle offered her sincere condolences to the family of the deceased. She said that the family had painted a “wonderful picture” of Sheila. Judge Boyle reserved her decision in the case. Sentencing will take place on Thursday. Ms Thomas was remanded in custody pending her sentencing on Thursday. She was warned that she was facing a custodial sentence.Will TikTok be banned in January? Here's where things stand as deadline nears
Man City crisis continues as Feyenoord come from three down to drawBy MICHAEL R. SISAK and JENNIFER PELTZ NEW YORK (AP) — President-elect Donald Trump’s lawyers urged a judge again Friday to throw out his hush money conviction, balking at the prosecution’s suggestion of preserving the verdict by treating the case the way some courts do when a defendant dies. They called the idea “absurd.” Related Articles National Politics | Trump wants to turn the clock on daylight saving time National Politics | Ruling by a conservative Supreme Court could help blue states resist Trump policies National Politics | A nonprofit leader, a social worker: Here are the stories of the people on Biden’s clemency list National Politics | Nancy Pelosi hospitalized after she ‘sustained an injury’ on official trip to Luxembourg National Politics | Veteran Daniel Penny, acquitted in NYC subway chokehold, will join Trump’s suite at football game The Manhattan district attorney’s office is asking Judge Juan M. Merchan to “pretend as if one of the assassination attempts against President Trump had been successful,” Trump’s lawyers wrote in a blistering 23-page response. In court papers made public Tuesday, District Attorney Alvin Bragg’s office proposed an array of options for keeping the historic conviction on the books after Trump’s lawyers filed paperwork earlier this month asking for the case to be dismissed. They include freezing the case until Trump leaves office in 2029, agreeing that any future sentence won’t include jail time, or closing the case by noting he was convicted but that he wasn’t sentenced and his appeal wasn’t resolved because of presidential immunity. Trump lawyers Todd Blanche and Emil Bove reiterated Friday their position that the only acceptable option is overturning his conviction and dismissing his indictment, writing that anything less will interfere with the transition process and his ability to lead the country. The Manhattan district attorney’s office declined comment. It’s unclear how soon Merchan will decide. He could grant Trump’s request for dismissal, go with one of the prosecution’s suggestions, wait until a federal appeals court rules on Trump’s parallel effort to get the case moved out of state court, or choose some other option. In their response Friday, Blanche and Bove ripped each of the prosecution’s suggestions. Halting the case until Trump leaves office would force the incoming president to govern while facing the “ongoing threat” that he’ll be sentenced to imprisonment, fines or other punishment as soon as his term ends, Blanche and Bove wrote. Trump, a Republican, takes office Jan. 20. “To be clear, President Trump will never deviate from the public interest in response to these thuggish tactics,” the defense lawyers wrote. “However, the threat itself is unconstitutional.” The prosecution’s suggestion that Merchan could mitigate those concerns by promising not to sentence Trump to jail time on presidential immunity grounds is also a non-starter, Blanche and Bove wrote. The immunity statute requires dropping the case, not merely limiting sentencing options, they argued. Blanche and Bove, both of whom Trump has tabbed for high-ranking Justice Department positions, expressed outrage at the prosecution’s novel suggestion that Merchan borrow from Alabama and other states and treat the case as if Trump had died. Blanche and Bove accused prosecutors of ignoring New York precedent and attempting to “fabricate” a solution “based on an extremely troubling and irresponsible analogy between President Trump” who survived assassination attempts in Pennsylvania in July and Florida in September “and a hypothetical dead defendant.” Such an option normally comes into play when a defendant dies after being convicted but before appeals are exhausted. It is unclear whether it is viable under New York law, but prosecutors suggested that Merchan could innovate in what’s already a unique case. “This remedy would prevent defendant from being burdened during his presidency by an ongoing criminal proceeding,” prosecutors wrote in their filing this week. But at the same time, it wouldn’t “precipitously discard” the “meaningful fact that defendant was indicted and found guilty by a jury of his peers.” Prosecutors acknowledged that “presidential immunity requires accommodation” during Trump’s impending return to the White House but argued that his election to a second term should not upend the jury’s verdict, which came when he was out of office. Longstanding Justice Department policy says sitting presidents cannot face criminal prosecution . Other world leaders don’t enjoy the same protection. For example, Israeli Prime Minister Benjamin Netanyahu is on trial on corruption charges even as he leads that nation’s wars in Lebanon and Gaza . Trump has been fighting for months to reverse his May 30 conviction on 34 counts of falsifying business records . Prosecutors said he fudged the documents to conceal a $130,000 payment to porn actor Stormy Daniels to suppress her claim that they had sex a decade earlier, which Trump denies. In their filing Friday, Trump’s lawyers citing a social media post in which Sen. John Fetterman used profane language to criticize Trump’s hush money prosecution. The Pennsylvania Democrat suggested that Trump deserved a pardon, comparing his case to that of President Joe Biden’s pardoned son Hunter Biden, who had been convicted of tax and gun charges . “Weaponizing the judiciary for blatant, partisan gain diminishes the collective faith in our institutions and sows further division,” Fetterman wrote Wednesday on Truth Social. Trump’s hush money conviction was in state court, meaning a presidential pardon — issued by Biden or himself when he takes office — would not apply to the case. Presidential pardons only apply to federal crimes. Since the election, special counsel Jack Smith has ended his two federal cases , which pertained to Trump’s efforts to overturn his 2020 election loss and allegations that he hoarded classified documents at his Mar-a-Lago estate. A separate state election interference case in Fulton County, Georgia, is largely on hold. Trump denies wrongdoing in all. Trump had been scheduled for sentencing in the hush money case in late November. But following Trump’s Nov. 5 election victory, Merchan halted proceedings and indefinitely postponed the former and future president’s sentencing so the defense and prosecution could weigh in on the future of the case. Merchan also delayed a decision on Trump’s prior bid to dismiss the case on immunity grounds. A dismissal would erase Trump’s conviction, sparing him the cloud of a criminal record and possible prison sentence. Trump is the first former president to be convicted of a crime and the first convicted criminal to be elected to the office.
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SOHAR Port and Freezone is pleased to announce the inauguration of Allied Ondock Container Services LLC, alongside the signing of an expansion agreement valued at approximately 2.6 million USD. The new container depot initially covers 3 hectares, with the contract for this development signed in June 2023. Whilst we inaugurate the first plot, at the same time we sign a contract for an expansion of an additional 2 hectares. This development aims to enhance operational efficiency and capacity, meeting the rising demand for advanced container depot services in the region. Allied Ondock, a subsidiary of the Singapore-based Allied Container Group, aims to optimize logistics operations by offering a range of services, including container depot, repair, inspection, and washing/cleaning facilities. The additional plot will expand the company’s warehousing capacity. Allied Ondock will facilitate the transfer of containers from Hutchison Ports Sohar, unloading cargo in their warehouse before returning the empty containers for further dispatch. This initiative addresses the rising demand for container depot services in the region, supporting over 20 shipping lines that call weekly. The collaboration strengthens SOHAR Port’s integrated logistics capabilities, reinforcing its position as a leading global logistics hub. The inauguration of Allied Ondock’s operations marks a transformative step for Oman’s economy,” said Emile Hoogsteden, Chief Executive Officer of SOHAR Port. “By enhancing our logistics capabilities, we are not only connecting businesses to global markets but positioning Oman as a key player in international trade. This partnership will drive economic diversification, strengthen our role as a vital logistics hub, and ultimately benefit the wider community, supporting Oman’s Vision 2040. This initiative complements SOHAR Port’s impressive growth, with container volumes increasing by 21% in Q3 2024 compared to Q3 2023. This growth is further supported by the introduction of an innovative land-bridge solution that strengthens the port’s global logistics capabilities. The integration of Allied Containers’ advanced technologies and expertise is expected to significantly enhance SOHAR Port’s operational capacity, reduce turnaround times, and elevate service excellence. ‘This strategic partnership allows us to introduce our advanced container handling solutions to a key logistics hub in the Middle East,’ said Lim Kian Chin, Owner of Allied Ondock Container Services Group. ‘By enhancing our services at SOHAR Port, we are not only contributing to its growth but also providing a competitive edge for its tenants. This superior service will empower shipping lines at SOHAR to optimize their operations and improve efficiency.’ By leveraging the strategic location of the port and the global network of Allied Ondock Group’s services, this agreement represents a significant addition to our offerings, enhancing our position as a competitive and integrated logistics hub. Moreover, the presence of an expert service operator at SOHAR Port will strengthen its advantages and streamline container handling operations. Source: SOHAR Port and FreezoneAustralian IT Pros Urged to Guard Against Chinese Cybersecurity ThreatsCHARLESTON, W.Va. — As workers were picking up the pieces of the fallen Capitol Christmas Tree Thursday morning due to high winds, lawmakers and legislative staff were trying to determine how to conduct a last-minute special session. By Thursday evening, however, a source in the governor’s office confirmed there would not be a special session and that further details would be forthcoming Friday. Lawmakers first took to social media Wednesday night after a letter was sent to members alerting them to a possible special session to be called by Gov. Jim Justice for Saturday. Members of the state Senate and House of Delegates provided further confirmation Thursday morning. “We were notified on yesterday evening to prepare for the possibility of being called into an extraordinary session by the Governor this weekend,” said Senate Finance Committee Chairman Eric Tarr, R-Putnam, in a statement. “As with all extraordinary sessions, the Legislature may only convene outside of regular session upon the Governor’s proclamation.” “There was a letter that went out that suggests that there may be a special session starting approximately 6 o’clock (Saturday),” said House Finance Committee Chairman Vernon Criss, R-Wood, by phone Thursday. According to Criss, the proposed special session would have been for consideration of a bill making changes to the Certified Industrial Business Expansion Development program on behalf of the Berkshire Hathaway Energy (BHE) Renewables and Precision Castparts Corp. (TIMET) titanium melt facility/solar microgrid project being built in Jackson County, though he was not aware of the specifics of the bill. Created by Senate Bill 4001 in a special session in September 2022, the program is meant to incentivize investment and construction of high-impact industrial plants and facilities that require access to renewable energy. BHE Renewables and TIMET purchased more than 2,000 acres at the former Century Aluminum site in Jackson County to build a modern titanium melt facility powered by a solar energy microgrid – a $500 million investment. A request for comment from representatives of BHE Renewables/TIMET was not returned for this story. SB 4001 created no more than two 2,250-acre, certified high-impact industrial business development districts that must be on land sold or leased by the state. Any renewable energy project in these districts would not be subject to approval by the Public Service Commission as far as rates, obtaining a certificate of convenience and necessity, conditions of service or complaints. The bill being discussed for a special session would have allowed for an additional district, or a maximum of six districts with approval of the Department of Economic Development, though no more than three districts can be within the same service territory of an investor-owned electric utility in the state. “The Berkshire Hathaway Energy District in the Ravenswood area needs to be modified for some kind of an investment,” Criss said. “I don’t know the details other than that’s the concept and hopefully we’ll hear more or actually see the call later today.” According to a draft bill, the legislation would remove the requirement that certified high-impact industrial business development districts be established on land sold or leased by the state. It would increase the acreage from 2,250 acres to no greater than 5,000 acres as long as it was large enough to support between 500 megawatts and 1,000 megawatts of renewable energy generation. The draft bill would require completion of economic development projects in a certified high-impact business development district within five years. It would also allow electric-generating units in these districts to be taxed at salvage value for property tax purposes, lower than the fair market value. West Virginia Democratic Party Chairman and Delegate Mike Pushkin, D-Kanawha, criticized Justice for creating confusion by proposing a special session and for wasting taxpayer dollars. Special sessions held outside of coinciding legislative interim meetings can cost as much as $35,000 per day. “Governor Justice is squandering taxpayer dollars to hold a special session to pass a sweetheart deal for a special interest, out-of-state corporation,” Pushkin said in a statement Thursday afternoon. “This is an outrageous abuse of power and a blatant disregard for the people of West Virginia, who deserve a government that prioritizes their needs—not backroom deals for corporate cronies.” The bill was also opposed by at least some on the conservative right. A group called West Virginia Constitutional Conservatives, sent out an email Wednesday urging fellow conservatives to oppose the bill and pressure Justice not to call a special session. “West Virginians shouldn’t have to foot the bill for political stunts that prioritize special interests over hardworking families,” wrote Laura Anders, wife of incoming Delegate S. Chris Anders, R-Berkeley. “Our tax dollars should be used responsibly, not squandered on projects that increase costs and threaten the livelihoods of those in traditional energy sectors.” The possible special session would have created a new set of problems. According to the state Constitution Article 4 Chapter 7, the terms for new lawmakers begin on the first day of December. After last month’s general election, the 100-member House of Delegates will be getting 14 new members, including 13 Republicans and one Democratic lawmaker. In the 34-member Senate, there will be seven new members, including six Republicans and one Democrat. Over the years, legislators will often have informal swearing-in ceremonies in December, with a formal swearing-in ceremony when the Legislature first convenes in January. During a year when a new governor takes office, the Legislature convenes on the second Wednesday in January (Jan. 8 in 2025) to elect leadership and open election returns delivered by the secretary of state. The Legislature then adjourns until the second Wednesday in February (Feb. 12) to begin the regular 60-day legislative session. When a special session was on the table, the question facing staff of the House and Senate clerk’s offices was who would participate? Would it be considered a lame-duck session with members of the 86th Legislature participating, or would new members of the incoming 87th Legislature be seated? According to the Secretary of State’s Office, the only times a special session was called after an election and prior to the start of the next regular legislative session were in 1913 and 1936. In a statement, Deputy Secretary of State and Chief of Staff Donald “Deak” Kersey said state code was amended after 1913 requiring the secretary of state to deliver the election returns to the Legislature of the first session following the election. “In 1936, a special session was called after the election but before the regular session, and the Secretary of State, following the amended law, delivered the certificates to the Legislature at the start of the special session,” Kersey said. “This is still the case today under current law.” “Therefore, if there is (a special) session, the Secretary of State is to deliver the certificates of election to the Legislature at the next ensuing session, which would be the (special) session and the newly elected legislators from the 2024 General Election would take office (so long as they’re in attendance and take the oath),” Kersey said. County clerks had until 30 days following the end of the Nov. 5 general election, or Thursday, to transmit certificates of election results to the Secretary of State’s Office. Joey Garcia, the two-term Democratic delegate representing Marion County, won election in November to represent parts of Marion and Monongalia County in the 13th Senatorial District for a four-year term. Garcia said the current 11-member House Democratic caucus found out indirectly about the special session. “I’m honestly a little bit disappointed in the lack of communication that we’ve received from, I think, House leadership because we found out about this through an email that didn’t come to any of our members,” Garcia said. The state Constitution states that in odd-numbered years each body will elect its officers when it convenes on Jan. 8. According to state Republican Party Chairman Matt Herridge, the GOP members of both bodies are scheduled to have caucuses Sunday afternoon to elect their nominees for House speaker and Senate president, who will be voted on by the respective chambers next month. House members are expected to reelect Delegate Roger Hanshaw, R-Clay, as speaker. But with Senate President Craig Blair, R-Berkeley, losing his GOP primary in May, there is a race for the president’s gavel. Known candidates include Senate Majority Leader Tom Takubo, R-Kanawha; Senate Energy, Industry and Mining Chairman Randy Smith, R-Tucker; and Tarr. “I don’t know yet,” said Tarr when asked whether a proposed special session could speed up the timetable for selection of a new Senate president. “I’m trying to get definitive answers on that as well.” Garcia, who took his ceremonial oath of office Wednesday, said it was important for legislative staff to get to the bottom of these issues, otherwise it could lead to possible litigation if someone believes the state Constitution was not being followed. “Whether I would be involved in this as a House member or a Senate, I expected that I was going to come into the Senate on Jan. 8 and take my oath of office then,” Garcia said. “Either way, we really need to know. They need to work this out, and then I’m ready to do whatever needs to be done. “If it’s good policy, if it’s good legislation, if it needs to be done now, it needs to be done later: whatever that may be, I’m here to try to make sure we do what’s right for the State of West Virginia,” Garcia continued.
TORONTO, Dec. 20, 2024 (GLOBE NEWSWIRE) -- Purpose Investments Inc. ("Purpose”) today announced the final annual distributions of income and capital gains for its open-end exchange-traded funds structured as mutual fund trusts (the "Funds”) with a December 15, 2024 tax year-end. The distributions represent income earned and capital gains realized by the Funds during the year. Details of the per unit distribution amounts are as follows: Final Annual Distributions of Income Dec 19, 2024 (Cash or Notional) US $ 6.16 Final Annual Capital Gains - Notional Distributions (Cash or Notional) - ETF Units US $ 8.47 US $ 3.84 Purpose confirms that the notional capital gain distributions will be applied to ETF holders of record as at the close of business on December 23, 2024 . The ex-distribution date for the notional capital gain distributions will be December 23, 2024. Final Annual Capital Gains - Cash Distributions (Cash or Notional) The actual breakdown of taxable amounts of reinvested and cash distributions for 2024 tax year, including tax factor allocations, will be reported to the brokers through CDS Clearing and Depository Services Inc. in early 2025. As an update to the press release issued on November 27, 2024, Purpose confirms that Apple (AAPL) Yield Shares Purpose ETF, Amazon (AMZN) Yield Shares Purpose ETF, NVIDIA (NVDA) Yield Shares Purpose ETF, and Microsoft (MSFT) Yield Shares Purpose ETF will not declare a special annual distribution in 2024. Purpose expects to announce the final year-end distributions for Purpose High Interest Savings Fund - ETF Units, Purpose US Cash Fund - ETF Units, Purpose Cash Management Fund - ETF Units, and Purpose USD Cash Management Fund - ETF Units on or about December 31, 2024, if necessary. Purpose expects to announce the final annual capital gain distributions for Purpose Fund Corp. and Big Banc Split Corp. on or about January 24, 2025, if necessary. Shareholders of record on January 30, 2025 will receive the annual capital gains distributions on February 5, 2025, and such capital gains will be applicable for the 2025 tax year. The final year-end capital gains distributions for these funds will be paid in cash. Purpose confirms that Purpose Mutual Funds Limited funds will not declare annual capital gain distributions for the 2024 tax year. About Purpose Investments Purpose Investments is an asset management company with more than $21 billion under management. Purpose Investments has an unrelenting focus on client-centric innovation, and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company. For further information please contact: Keera Hart [email protected] 905-580-1257 Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. This press release is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. This press release is not for dissemination in the United States or for distribution to US news wire services.
The Electronic Privacy Information Center ( ) has urged the Dutch Data Protection Authority to protect students and employees from the harms of emotion recognition. The EU prohibits the development, deployment, and placement of emotion recognition systems in the EU market intended for workplaces and educational institutions, with limited exceptions for certain medical and safety reasons. However, the Dutch data protection agency Autoriteit Persoonsgegevens (AP) opened a consultation requesting feedback on the implementation of this prohibition. The Washington DC-based EPIC has urged AP to define emotion recognition systems broadly and to either allow for no exemptions for its use, or construe the medical and safety exemption narrowly. EPIC’s recommendation is based on the “complete lack of scientific evidence that these systems work,” the organization , and that they “violate” various protections enshrined in the EU Charter of Fundamental Rights and other EU regulations. EPIC regularly advocates for the protection of civil liberties and privacy rights, with focus on biometric surveillance, and has previously complained to the FTC on a . In addition, it has on the harms of emotion recognition, and warned the United States Department of Justice on the . AI-based emotion recognition systems make predictions about an individual’s emotional state based on biometric data such as heart rate, skin moisture, voice tone, gestures or facial expressions. However, the science behind “emotion recognition” can be barely construed as science. This is for the simple reason that inner emotions can be very hard to objectively measure based on a person’s external features. For example, a skilled movie actor can be read as sad or anguished or extremely happy, but it does not mean that they are genuinely experiencing those emotions within themselves. Researchers have found that and that these can also vary substantially across different cultures, situations, and even across people within a single situation. Therefore, “objectively” assessing emotions is a misnomer. Furthermore, such technologies can display discrimination based on race, gender and disability. Australian researcher and lawyer Natalie Shard recently explained in a piece for The Conversation why she believes the Australian government should have specific regulations surrounding the use of such technologies, which can be read . | | | | | | | |
