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The British Columbia government is increasing tax incentives for both local and international film and TV projects in an effort to attract more major productions to the province. Premier David Eby said the tax credit for international projects made in B.C. will jump from 28 to 36 per cent, and an incentive for Canadian-content productions will increase from 35 to 36 per cent. There’s also a special bonus to attract blockbuster productions with budgets of $200 million. Speaking on Thursday at the Martini Town studio, a New-York-themed backlot in Langley, B.C., Eby said tax incentives are the province’s “competitive advantage” and increasing them will help the industry that has been battered by the pandemic, labour disruptions and changes to industry practices. “This is a sector that’s taken some hits. The decision by major studios to ... reduce some of their budgets on production, the impact of labour disruptions, other jurisdictions competing with British Columbia for these productions with significant subsidies for the industry, means that we need to respond,” Eby said, the Manhattan street scene behind him decorated for Christmas. “We need to make sure that we continue to be competitive.” Government numbers show the film industry generated $2.7 billion in GDP in 2022 — roughly one per cent of provincial GDP — and $2 billion in 2023, a year affected by strike action and a decrease in global production A government statement says the incentives begin with productions that have principal photography starting Jan. 1, 2025, and projects with costs of greater than $200 million in B.C. will receive a two per cent bonus. Gemma Martini, chair of industry organization Screen BC and CEO of Martini Film Studios, told the news conference that it has been a “tumultuous” year for film and television, which supports tens of thousands of jobs. “It is clear that British Columbia is a well respected and preferred global production partner, but we must be able to compete at the bottom line,” she said. “We expect, we know, our government’s announcement will put B.C. back in the game to earn our true ‘Hollywood north’ reputation.” Foreign film and TV work makes up an average of 80 per cent of total production spending in B.C., and the government says maintaining strong international relationships is critical for the industry to continue to thrive. The government says it also intends to restore regional and distant-location tax credits that were cut last year for companies with a brick-and-mortar presence outside of Metro Vancouver, the Fraser Valley and Whistler and Squamish. Eby first promised to increase the tax credits as part of his election campaign earlier this year. Just days after the new B.C. cabinet was announced in November, a delegation that included Finance Minister Brenda Bailey and Arts and Culture Minister Spencer Chandra Herbert travelled to California to pitch B.C.‘s film and TV industry. Chandra Herbert told the news conference that during the trip they met industry representatives who are now looking at B.C. “in a bigger way” because of the new incentives. He said the additional two per cent bonus for productions over $200 million is a way to encourage larger productions to come and stay in B.C. “This is a way of making sure that the workers in this industry, and the companies, know that we’re here for them for the long term. You can make these investments long term. You can grow the industry today, tomorrow and into the years ahead,” he said. This report by The Canadian Press was first published Dec. 12, 2024.
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America's telecoms regulator has opened up the entire 6 GHz frequency band to very low-power devices, alongside other unlicensed applications such as Wi-Fi kit. The Federal Communications Commission (FCC) said it has adopted extra rules to allow very low-power device operation across the entire 1,200 MHz of the 6 GHz band, from 5.925 to 7.125 GHz, within the US. The agency had already opened up 850 MHz of the band to small mobile devices a year ago, and has now decided to open up the remaining 350 MHz. It hopes that this will give a shot in the arm to an ecosystem of short-range devices such as wearables, healthcare monitors, short-range mobile hotspots, and in-car devices that will be able to make use of this spectrum without the need of a license. These applications often call for low power transmission across short distances, but at very high connection speeds, the FCC says – otherwise, existing technologies like Bluetooth could suffice. "This 1,200 MHz means unlicensed bandwidth with a mix of high capacity and low latency that is absolutely prime for immersive, real-time applications," said Jessica Rosenworcel, the FCC's outgoing chair. "These are the airwaves where we can develop wearable technologies and expand access to augmented and virtual reality in ways that will provide new opportunities in education, healthcare, and entertainment." Because these are such low-power devices, no restrictions have been placed on where they can be used, and they will not be required to operate under the control of an automatic frequency coordination system, as some Wi-Fi equipment must to avoid interference with existing services that use the 6 GHz spectrum. However, to minimize the risk of any potential interference, the devices will be required to implement a transmit power control mechanism and employ a contention-based protocol, requiring a device to listen to the channel before transmission. They are, however, prohibited from operating as part of any fixed outdoor infrastructure. This decision from the FCC has already been greeted by some, notably the Computer and Communications Industry Association (CCIA), an industry lobbying body. "We applaud the FCC for delivering on a broadly shared goal of maximizing the use of broadband-ready wireless spectrum," CCIA Senior VP Stephanie Joyce said in a statement, noting that the agency has made "significant strides" in authorizing more uses of spectrum for the digital services industry under Rosenworcel's leadership. All this applies only inside the US as the 6 GHz frequency band is allocated differently elsewhere. In the UK, for example, the lower 6 GHz band (5,925-6,425 MHz) is available for license-exempt use for technologies such as Wi-Fi, while the upper 6 GHz band (6,425-7,125 MHz) is to be shared with cell networks . China last year earmarked the upper 6 GHz band exclusively for 5G and 6G services. ®OTTAWA - Incoming U.S. president Donald Trump is brushing off Ontario’s threat to restrict electricity exports in retaliation for sweeping tariffs on Canadian goods, as the province floats the idea of effectively barring sales of American alcohol. On Wednesday, Premier Doug Ford said Ontario is contemplating restricting electricity exports to Michigan, New York state and Minnesota if Trump follows through on a threat to impose a 25 per cent tariff on imports from Canada. “That’s OK if he that does that. That’s fine,” Trump told American network CNBC when asked Thursday about Ford’s remarks on the floor of the New York Stock Exchange. “The United States is subsidizing Canada and we shouldn’t have to do that,” Trump added. “And we have a great relationship. I have so many friends in Canada, but we shouldn’t have to subsidize a country,” he said, claiming this amounts to more than US$100 billion annually in unspecified subsidies. Meanwhile, an official in the Ford government says it’s considering restricting the Liquor Control Board of Ontario from buying American-made alcohol. The province says the Crown agency is the largest purchaser of alcohol in the world. The province also says it could restrict exports of Canadian critical minerals required for electric-vehicle batteries, and bar American companies from provincial procurement. Ford doubled down Thursday on the idea of cutting off energy exports. The province says that in 2013, Ontario exported enough energy to power 1.5 million homes in those three states. “It’s a last resort,” Ford said. “We’re sending a message to the U.S. (that if) you come and attack Ontario, you attack livelihoods of people in Ontario and Canadians, we are going to use every tool in our tool box to defend Ontarians and Canadians. Let’s hope it never comes to that.” Ontario Energy Minister Stephen Lecce said the province would rather have co-operation with the U.S., but has mechanisms to “end power sale into the U.S. market” the day Trump takes office on Jan. 20. Alberta Premier Danielle Smith ruled out following suit. “Under no circumstances will Alberta agree to cut off oil and gas exports,” she said. “Our approach is one of diplomacy, not threats.” Michael Sabia, president and CEO of Hydro-Québec, said “it’s not our current intention” to cut off Quebec’s exports to Massachusetts or New York state, but he conceded it might be possible. “Our intention is to respect those contracts, both because they’re legally binding, but also because it’s part of, in our view, a sound relationship with the United States,” he said. “It’s a questionable instrument to use in a trade conflict.” Manitoba Premier Wab Kinew would not directly say whether Manitoba would threaten to withhold hydroelectric exports. “We are preparing our list and starting to think through what those options should look like,” he said. “I’m not going to make specific news today about items that we’re looking at.” Kinew added that some premiers felt retaliatory measures wouldn’t work in a call Trudeau held Wednesday. Newfoundland and Labrador Premier Andrew Furey said “we have no interest in stopping” the export of energy to the U.S., adding that a trade war would hurt both countries. “We hope it is just bluster; we’re preparing as if it is not,” he said. Canada supplies more oil to the U.S. than any other country. About 60 per cent of U.S. crude oil imports are from Canada, and 85 per cent of U.S. electricity imports as well. Canada sold $170 billion worth of energy products last year to the U.S. It also has 34 critical minerals and metals the Pentagon is eager for. Trump has threatened to impose a 25 per cent tax on all products entering the United States from Canada and Mexico unless they stem the flow of migrants and drugs. Canadian officials have said it is unfair to lump Canada in with Mexico. U.S. customs agents seized 43 pounds of fentanyl at the Canadian border last fiscal year, compared with 21,100 pounds at the Mexican border. Canada since has promised more border security spending to address Trump’s border concerns. Ford said that will include more border and police officers, as well as drones and sniffer dogs. This report by The Canadian Press was first published Dec. 12, 2024. — With files from The Associated Press, Liam Casey in Toronto, Lisa Johnson in Edmonton and Steve Lambert in Winnipeg.Brazil’s 2026 presidential election may offer a field of candidates featuring neither incumbent Luiz Inacio Lula da Silva nor far-right rival Jair Bolsonaro. That scenario — possible, given Lula’s state of health and a ban on Bolsonaro holding public office — would present a novel situation and open the door to possible successors. Lula, 79, is currently in hospital, recovering from emergency surgery on Tuesday to relieve pressure from bleeding under his skull related to a bad fall he had in October. Previously, Lula had treatment in 2011 for throat cancer, and last year a hip replacement operation. The health woes undermine the robust image that the raspy-voiced leftist icon has long projected, and which galvanized voters to have him as their president between 2003 and 2010, and again since 2023. In a CNN interview last month Lula declared himself willing to run again if no other viable left-wing candidate emerged. “I hope it won’t be necessary,” he said. An ally, Uruguay’s ex-president Jose Mujica, recently told AFP: “Lula’s nearly 80 and he has no replacement. That is Brazil’s misfortune.” – Bolsonaro’s legal woes – Bolsonaro, 69, faces challenges of a legal nature to try to regain the presidency he lost to Lula in 2022 elections. The former army captain, who relishes being compared to his hero Donald Trump, has been barred from holding public office, or leaving Brazil, because of what police say was a failed 2022 coup plot against Lula. Bolsonaro got his ban on public office by making unsubstantiated claims of fraud in Brazil’s electronic voting system in that year’s election. Police say he also incited a January 8, 2023 insurrection in which thousands of supporters stormed the presidential palace, the Congress and the Supreme Court, and allege he had a decree written to invoke emergency powers to stay in charge. Bolsonaro denies the accusations — which the attorney general is currently weighing to decide if formal charges will be laid — and has vowed to have the ban set aside so he can run again. “I am Plan A, Plan B and also Plan C” for 2026, he told a radio program last week. “Bolsonaro seeks inspiration from Trump... but has before him a long battle in the courts,” said Roberto Goulart, an international relations professor at Brasilia University. Brazil’s political and justice system has thrown up surprises before. Lula himself was barred from running for president in 2018, when he was convicted of corruption, propelling his running mate, former Sao Paulo mayor and current economy minister Fernando Haddad, to the top of the ticket. Haddad lost to Bolsonaro. And Lula’s conviction was later overturned when the judge in charge of the case against him was found to be biased. – Heirs apparent – Lula’s ministers voice optimism about the state of the president’s health, despite his recent emergency. “President Lula is very well.... He will certainly be our candidate in 2026,” Communication Minister Paulo Pimenta told CNN on Thursday. “The person who won’t be able to run in that election is Bolsonaro, who is ineligible and will probably be in prison before the vote happens,” Pimenta said. According to a survey by MDA Pesquisa last month, six out 10 leftwing voters would prefer to see Lula run in 2026. If that does not happen, analysts and surveys point to Haddad, 61, as his most likely successor. Lula’s last choice to succeed him did not end well. Back in 2010, he anointed his chief-of-staff Dilma Rousseff as his replacement when he reached his two-term limit, ensuring she became president. But she ended up being impeached in her second term, and was ousted in 2016 for breaking budget laws. On the right, while Bolsonaro still garners attention, Brazilian media and analysts have advanced several names that could be considered his heir. Among them are Sao Paulo state governor Tarcisio de Freitas, 49 — and Bolsonaro’s wife Michelle Bolsonaro, 42. Freitas has publicly expressed loyalty to Bolsonaro, saying that his “leadership is unquestionable and endures.” With 2,400 staff representing 100 different nationalities, AFP covers the world as a leading global news agency. AFP provides fast, comprehensive and verified coverage of the issues affecting our daily lives.
Lazio are guaranteed a place in the Europa League next phase after their confident 3-1 victory away to Ajax, with Loum Tchaouna, Fisayo Dele-Bashiru and a Pedro stunner. The Aquile had won every game in the tournament until their controversial 0-0 with Ludogorets, where a clear penalty was denied even after the VAR review. Alessio Romagnoli and Matias Vecino were injured, while their fans were not allowed because of Francesco Farioli’s Ajax had Owen Wijndal suspended, Davy Klaassen, Sivert Mannsverk, Amourricho Van Axel-Dongen, Gaston Avila and ex-Roma midfielder Benjamin Tahirovic out of action. Bertrand Traoré curled wide and Taty Castellanos almost pounced on a weak Youri Baas back-pass, which was only a warning for the opening goal. Boulaye Dia forced Kenneth Taylor into a misplaced pass in midfield, allowing Castellanos to send Tchaouna onto a through ball to beat Remko Pasveer one-on-one. Brian Brobbey mistimed the jump to nod wide on an Ajax corner kick routine, but Castellanos almost intercepted another awful Baas back-pass, as Pasveer just about managed to clear. A Castellanos snapshot and Brobbey header both skimmed the upright, but Ajax equalised straight after the restart. Luca Pellegrini cleared Taylor’s header off the line from a free kick, then could do nothing as Traore blasted the rebound into the near top corner from 10 yards. Lazio restored their advantage within five minutes, as substitute Mattia Zaccagni got down the left and flashed a ball across the face of goal for Dele-Bashiru at the back post, Pasveer unable to claw it off the line. Pasveer kept his team in it with a double save on Tchaouna’s solo run and the – offside – Castellanos follow-up, while Luca Pellegrini almost gifted Brobbey a goal with an ill-advised cushioned chest back to his goalkeeper. Lazio further extended their lead in Amsterdam with a spectacular goal. Nuno Tavares – who came on for injured Pellegrini – started the run from his own half, his pass found a cheeky Tchaouna back-heel flick to set up the stunning Pedro sweep into the far top corner from the edge of the area with the inside of the left boot. Rolling back the years 💥 Pedro puts the game to bed for Lazio with a fantastic curling effort 🔥 📺 & — Football on TNT Sports (@footballontnt) Castellanos should’ve made it 4-1 only to see his dinked finish denied by an outstretched Pasveer hand, then Traore saw his curler smack against the crossbar, followed swiftly by a great Mandas reaction save on Chuba Akpom from close range. Akpom also steered a free header wide from six yards and in stoppages the Gaaei cross-shot hit the frame of the Lazio goal. Tchaouna 12 (L), Traore 47 (A), Dele-Bashiru 52 (L), Pedro 77 (L)Article content “Wanted” posters with the names and faces of health-care executives have been popping up on the streets of New York. Hit lists with images of bullets are circulating online with warnings that industry leaders should be afraid. Recommended Videos The apparent targeted killing of UnitedHealthcare CEO Brian Thompson and the menacing threats that followed have sent a shudder through corporate America and the health-care industry in particular, leading to increased security for executives and some workers. In the week since the brazen shooting, health insurers have removed information about their top executives from company websites, canceled in-person meetings with shareholders and advised all employees to work from home temporarily. An internal New York Police Department bulletin warned this week that the online vitriol that followed the shooting could signal an immediate “elevated threat.” Police fear that the Dec. 4 shooting could “inspire a variety of extremists and grievance-driven malicious actors to violence,” according to the bulletin, which was obtained by The Associated Press. “Wanted” posters pasted to parking meters and construction site fences in Manhattan included photos of health-care executives and the words “Deny, defend, depose” — similar to a phrase scrawled on bullets found near Thompson’s body and echoing those used by insurance industry critics. Thompson’s wife, Paulette, told NBC News last week that he told her some people had been threatening him and suggested the threats may have involved issues with insurance coverage. Investigators believe the shooting suspect, Luigi Mangione, may have been motivated by hostility toward health insurers. They are studying his writings about a previous back injury, and his disdain for corporate America and the U.S. health-care system. Mangione’s lawyer has cautioned against prejudging the case. Mangione, 26, has remained jailed in Pennsylvania, where he was arrested Monday. Manhattan prosecutors are working to bring him to New York to face a murder charge. UnitedHealthcare’s parent company, UnitedHealth Group, said this week it was working with law enforcement to ensure a safe work environment and to reinforce security guidelines and building access policies, a spokesperson said. The company has taken down photos, names and biographies for its top executives from its websites, a spokesperson said. Other organizations, including CVS, the parent company for insurance giant Aetna, have taken similar actions. Government health insurance provider Centene Corp. has announced that its investor day will be held online, rather than in-person as originally planned. Medica, a Minnesota-based nonprofit health-care firm, said last week it was temporarily closing its six offices for security reasons and would have its employees work from home. Heightened security measures likely will make health-care companies and their leaders more inaccessible to their policyholders, said former Cigna executive Wendell Potter. “And understandably so, with this act of violence. There’s no assurance that this won’t happen again,” said Potter, who’s now an advocate for health-care reform. Private security firms and consultants have been in high demand, fielding calls almost immediately after the shooting from companies across a range of industries, including manufacturing and finance. Companies have long faced security risks and grappled with how far to take precautions for high-profile executives. But these recent threats sparked by Thompson’s killing should not be ignored, said Dave Komendat, a former security chief for Boeing who now heads his own risk-management company. “The tone and tenor is different. The social reaction to this tragedy is different. And so I think that people need to take this seriously,” Komendat said. Just over a quarter of the companies in the Fortune 500 reported spending money to protect their CEOs and top executives. Of those, the median payment for personal security doubled over the last three years to just under $100,000. Hours after the shooting, Komendat was on a call with dozens of chief security officers from big corporations, and there have been many similar meetings since, hosted by security groups or law enforcement agencies assessing the threats, he said. “It just takes one person who is motivated by a poster — who may have experienced something in their life through one of these companies that was harmful,” Komendat said. — Associated Press reporters Wyatte Grantham-Philips in New York and Barbara Ortutay in San Francisco, contributed to this report.Fantasy Basketball Dynasty Weekly: Early Season Risers
PHILADELPHIA, PA / ACCESSWIRE / December 10, 2024 / abrdn Emerging Markets Equity Income Fund, Inc. (NYSE American:AEF) announces results of a strategic review conducted by the Fund's Board of Directors (the "Board") at a meeting held today. The Board has approved multiple changes to the Fund including: (1) changes to the Fund's name and 80% non-fundamental investment policy; (2) a 20% tender offer to be offered in the first quarter of 2025; (3) a new 3-year performance-based conditional tender offer policy commencing on March 1, 2025; and (4) an increase to its annualized distribution rate from 6.5% to 10% effective with the distribution that will be declared in March 2025. Fund Name Change and Changes to Non-Fundamental Investment Policy The Fund's Board has approved changes to the Fund's name, its non-fundamental 80% investment policy, and its benchmark, as set forth below. There will be no change to the Fund's investment objective and the Fund will continue to trade on the NYSE American under ticker symbol "AEF". The name change and change to the 80% investment policy will be effective on or about February 24, 2025 (the "Effective Date") following 60 days' notice to Fund shareholders and may only be changed thereafter by the Board of the Fund following the provision of at least 60 days' written notice to the Fund's shareholders. Current New Fund Name abrdn Emerging Markets Equity Income Fund, Inc. abrdn Emerging Markets ex-China Fund, Inc. 80% Investment Policy The Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in emerging markets equity securities. Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in emerging markets (excluding China) equity securities. Benchmark MSCI Emerging Markets Index (Net Daily Total Return) MSCI Emerging Markets ex-China Index (Net Daily Total Return) In approving the strategy and name change, the Board considered, among other factors, that as the only U.S. closed-end fund currently offering the emerging market ex-China strategy, the Fund will be less driven by the policy actions of the Chinese government, and more driven by stock fundamentals, which aligns with Management's style of bottom-up investing. The Fund will remain a non-diversified, closed-end management investment company whose objective is to provide both current income and long-term appreciation. Tender Offer The Fund is also announcing approval by the Board to pay a cash tender offer which will purchase up to 20% of the Fund's issued and outstanding shares at a price per share to be equal to 98% of the Fund's NAV per share as determined by the Fund on the next business day following the expiration date of the tender offer (the "2025 Tender Offer"). This 2025 Tender Offer will replace the Fund's current conditional tender offer policy announced in May 2023. Further details and timing will be announced ahead of the Effective Date of the Fund's investment strategy changes. Update to the Fund's Conditional Tender Offer Policy As part of the Board's commitment to shareholders relating to the investment strategy changes, the Board has adopted a policy (the "Policy") pursuant to which it will cause the Fund to conduct a one-time tender offer for twenty percent (20%) of its then issued and outstanding shares of common stock on or before June 30, 2028, if the Fund's total return investment performance measured on a NAV basis does not equal or exceed the total return investment performance of the MSCI Emerging Markets ex-China Index (Net Daily Total Return) during the period commencing on March 1, 2025 and ending on February 28, 2028. The price at which shares are to be tendered and other terms and conditions of such tender offer would be determined by the Board in its discretion based on its review and consideration of the then-current size of the Fund, market conditions and other factors it deems relevant. Annualized Distribution Rate Increase and Declaration of Next Distribution The Fund is also announcing that, as part of the strategic changes, the Board approved an increase to its annualized distribution rate from 6.5% to 10%, commencing with the quarterly distribution payable in March 2025. The actual amount of the distribution will continue to be based on the average daily net asset value ("NAV") for the previous three months as of the month-end prior to declaration. The Fund intends to maintain the increased distribution rate for at least the 12 months following the effective increase, unless there is a significant and unforeseen change in market conditions. This policy will be subject to regular review by the Board. The policy is expected to provide a steady and sustainable quarterly cash distribution to Fund shareholders that may help reduce any discount to NAV at which the Fund's shares trade. There is no assurance that the Fund will achieve these results. Important Information At the end of each calendar year, a Form 1099-DIV will be sent to shareholders, which will state the amount and composition of the Fund's distributions and provide information with respect to their appropriate tax treatment for the prior calendar year. You should not draw any conclusions about the Fund's investment performance from the amount of the distributions. Circular 230 disclosure: To ensure compliance with requirements imposed by the U.S. Treasury, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code of 1986, as amended, or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. In the United States, abrdn is the marketing name for the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, and abrdn Asia Limited. Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the NAV of the Fund's portfolio. There is no assurance that the Fund will achieve its investment objective. Past performance does not guarantee future results. www.abrdnaef.com ### For More Information Contact: abrdn U.S. Closed-End Funds Investor Relations 1-800-522-5465 Investor.Relations@abrdn.com SOURCE: abrdn Emerging Markets Equity Income Fund, Inc. View the original on accesswire.comKobe Sanders, Nevada beat Oklahoma St. for fifth place in Charleston
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