I said on the steps of Downing Street on May 8th that this would be a One Nation Government, with working people at its heart.
In its simplest terms, that means if you want to work hard and get on in life, this Government will be on your side.
Whoever you are, wherever you live, whatever your background, whatever stage of life you are at, I believe this government can help you fulfil your aspirations.
And let me be clear, when I say whoever you are, I mean it.
Whether you voted for me or campaigned against me, whether you are middle income or low paid or not in work at all, whether you live in a leafy suburb or an
inner-city community, this Government wants to extend opportunity, and what in the election campaign I called a good life, for all.
That for me is the One Nation ideal.
We have taken great strides towards this in the past five years.
Two million more people in work.
More children in good or outstanding schools than ever before.
And yet for all the progress we have made there are still far too many people in our country unable to reach their potential.
When less than one in ten children in residential care get 5 good GCSEs and when more than 1.5 million children are still living in households where no-one works, I won’t sit back and think the job is done.
Far from it.
I want everyone in this country to have the opportunity to get on and make a good life for themselves.
That is the task for the next five years.
And today, I want to set out how we will achieve it.
LONG-TERM ECONOMIC PLAN
It starts, quite simply, by continuing to work through our long-term economic plan.
Line one, rule one, of any plan to extend opportunity is to ensure a strong economy.
And a secure and strong economy means getting the deficit down.
I know there are those who think that this is somehow not progressive.
But let me tell you this.
There’s nothing progressive about asking the next generation to pay off the debts we couldn’t be bothered to deal with nothing progressive about robbing from our children.
There’s nothing progressive about paying more in debt interest than we spend on our schools.
Make no mistake, if we’re running unsustainable deficits, and interest rates are going through the roof it’s working people and children in the poorest families who will suffer the most.
If taxes are high, and businesses are firing rather than hiring, make no mistake, it’s working people and their children who will lose out first.
So yes, we will finish the job of the turning the economy around and doing what I call the bread and butter of good government, competently running the economy, offering people the security they need to get on in their lives.
And that is the first step in improving the life chances of everyone in our country.
But today, I want to make a bigger, and deeper, argument about how we realise the One Nation ideal and help everyone achieve their full potential.
It’s an argument that captures social reform as well as economic reform tying in what we are doing with families and schools with what we are doing with welfare and work.
And it’s an argument I can act upon more robustly and consistently, now that I lead a majority Conservative Government.
It goes like this.
When it comes to extending opportunity – there is a right track and a wrong track.
The right track is to recognise the causes of stalled social mobility and a lack of economic opportunity.
Family breakdown. Debt. Addiction.
Poor schools. Lack of skills. Unemployment.
People capable of work, written off to a lifetime on benefits.
Recognise those causes, and the solutions follow.
Strong families that give children the best start in life.
A great education system that helps everyone get on.
A welfare system that encourages work – well paid work.
These are the drivers of opportunity – and we need to extend them.
The wrong track though, is to ignore the causes, and simply treat the symptoms of the social and economic problems we face.
Too often that is what happens.
Just take the historic approach to tackling child poverty.
Today, because of the way it is measured, we are in the absurd situation where if we increase the state pension, child poverty actually goes up.
So what we have seen in the past is that governments respond by thinking much of the answer is to redistribute money through the tax and benefit system giving families an extra pound here or there so they move from just below the poverty line to just above it.
I don’t underestimate for one second the difference that extra money can make.
But that isn’t extending opportunity.
It’s papering over the cracks, using welfare to present the veneer of fairness.
It’s a poor excuse for shying away from the fundamental reforms that will deal with causes of poverty rather than just its symptoms.
And frankly it’s a complacency that has let down so many of those most in need in our country.
We need to focus on tackling the real causes of child poverty.
That means looking at what we do to support families.
To improve education.
To give people the help they need to get into work and support their families.
Put simply, how we improve life chances for all.
That’s a key aim of the One Nation ideal.
There’s a similar complacency in how we approach the crucial issue of low pay.
There is what I would call a merry-go-round.
People working on the minimum wage having that money taxed by the government and then the government giving them that money back – and more – in welfare.
Again, it’s dealing with the symptoms of the problem – topping up low pay rather than extending the drivers of opportunity – helping to create well paid jobs in the first place.
So this is the change we need.
We need to move from a low wage, high tax, high welfare society
to a higher wage, lower tax, lower welfare society.
Indeed, across the spectrum, as a country we have been too busy picking up the pieces of failure that has gone before.
Dealing with anti-social behaviour rather than strengthening families.
Managing youth unemployment rather than boldly reforming education.
We all know why.
Extending the drivers of opportunity is difficult.
It means taking on vested interests – like teaching unions or poorly performing local education authorities…
…and it means talking about things and concepts some people feel uncomfortable about – families, behaviour, the link between effort and reward.
Put another way, it’s easier just to sign off another benefit cheque than it is to get people ready for work or discuss the importance of stable family life.
INTOLERANCE OF GOVERNMENT FAILURE
I am proud that in the past five years, we have begun to turn the tide on the failed approach.
We’ve put strengthening families, reforming education and transforming welfare at the heart of what we have been doing.
But in the next five years we have to go so much further – and that begins by recognising something really fundamental.
So many of our country’s efforts to extend opportunity have been undermined by a tolerance of government failure.
The failure to look after children in care.
The tolerance of sink schools that have failed one generation after another.
An acceptance of long-term unemployment among hard-to-reach individuals.
We have to end the complacency that has sometimes infected our national life, that says some problems are too big, and we can put up with second best.
For me, when it comes to extending opportunity, the next five years will be about a complete intolerance of this government failure.
We know it can be done.
Let’s just take one example.
In the past, some people have found it easier to fly half-way round the world to adopt rather than wait for the case system at home to finish agonising about placing mixed race children with white families and vice versa.
We are sorting this out.
Sweeping away the ridiculous rules that stop children being placed in a loving home.
More than doubling the capacity of voluntary adoption agencies to recruit adopters
and securing a quicker approvals process so that adopters can now be approved in just 6 months.
Of course there is much further to go – we need to continue to tackle the obstacles that stand in the way of children being placed with a loving family.
But through this work we helped over
5,000 children find a loving home last year, up 63 per cent since 2011.
So when I talk about dealing with State failure, I’m not making an anti-government argument.
I’m making an argument about ensuring that government works.
Government should never give up on its proper responsibilities.
But it has got to stop tolerating failure, just because it is easier to stick with the status quo.
Sometimes that will mean taking radical steps to liberate the front line from excessive bureaucracy and paperwork.
And sometimes it will mean allowing other organisations like charities, trusts and social enterprises to come in and help do the job.
Just as we have seen here at Ormiston Bolingbroke Academy which went from local authority to academy trust and from being the worst performing school in the area to the best.
It’s about delivering real change.
From building a welfare society to building an opportunity society.
From managing State failure to being intolerant of it.
These will be some of the crucial tests for this government – and for my second term as Prime Minister.
For me, families are the best welfare system there is – so I have never been shy about supporting them in the work they do.
Marriage is now recognised in the tax system.
Shared parental leave is now available for parents in the first year of their child’s birth.
We are helping more families to get on the housing ladder and own their own home including by building 200,000 starter homes for first time buyers under the age of 40.
And to help families when they hit trouble, we have increased funding for relationship support by 50% and we will be investing at least £7.5 million every year for as long as I am Prime Minister.
In the next five years, we will double free childcare for 3 and 4 years olds in families with working parents.
And because all the evidence shows if you focus on the early years you have the best chance of transforming a child’s life we will look at how we can create a much more coherent offer to support children and parents in the early years bringing together all those services targeted at getting children school-ready by age 4.
But I am clear: if we really want to extend opportunity in our country, we need to intervene more directly to help the most vulnerable families in our country.
Our troubled families programme, under Louise Casey, has changed lives.
By radically changing the way we deliver services to the hardest-to-reach families in our country, we have tackled worklessness, addiction, truancy and anti-social behaviour.
And I can announce today that almost all of the 117,000 families which the programme started working with have now been turned around – in terms of either school attendance or getting a job or both.
This has saved as much as £1.2 billion in the process.
And in the next five years, we will work with 400,000 more.
This is a real Government success, and I want to extend this thinking to areas where state institutions have all too often failed.
One area is Child Protection – and this will be a big focus of the next five years.
Social workers do a very challenging job, in fraught situations. And we need to help them.
So we will recruit the best graduate talent through Frontline – the new equivalent to Teach First to raise the status and standards of the profession.
We will train them more rigorously.
And we will help good social workers to stay at the frontline using their professional judgement not be promoted away from where they are most needed.
We also need more accountability, to end the tragedies.
Victoria Climbié in 2000. Baby Peter in 2007. Daniel Pelka in 2012.
Killed by evil, manipulative adults, these were all children who were known to social services but for whom no-one ultimately took sufficient responsibility, in a complex landscape of multiple agencies and protocols.
We will bring over the lessons we have learned in education where we have intervened quickly and put failing organisations under new leadership.
We will say to any local authority failing its children: transform the way you provide services, or those services will be taken over by non-profit trusts like those in Doncaster and Slough, and partnerships like that between Hampshire and the Isle of Wight.
This is what I mean when I say One Nation – extending opportunity to every community in our country.
Next, our education system.
The whole purpose of our education reforms is to extend educational excellence and opportunity to every school and community, not just a privileged few.
Our academies programme has sent our best heads to the most challenging schools.
We have opened hundreds of new free schools in some of our most deprived neighbourhoods.
And we introduced the pupil premium, so more money follows the poorest pupils.
Alongside these structural changes, we have set higher standards.
A new curriculum that really tests our children, a new emphasis on the subjects of the future, like coding, the most radical improvement in vocational education, including the opening of new University Technical Colleges and as we announced last week, making sure every pupil studies Maths, English, a Science, History or Geography and a language at GCSE.
Today, because of these changes, the doors of opportunity are opening up around the country.
Some schools in our poorest neighbourhoods are now sending more children to our best universities than some of our most renowned private schools.
Here at Ormiston Bolingbroke Academy, 53 students went on to university last year, 52 were the first in their families to do so.
The next five years will be about going further, in particular, not accepting any failure in the system – however difficult that may be.
One, we need zero tolerance of the failing schools that still exist within the system.
One of the great frustrations of the past five years was that because of bureaucratic rules, we could only intervene in fifty percent of the schools rated ‘inadequate’ by OFSTED.
So as part of our Education Bill, we will sweep away these rules and make sure every ‘inadequate’ school will be turned into an academy, with new leadership.
Next we need to improve what I have called ‘coasting schools’.
Today the Education Secretary will set out to Parliament the principles we will apply to judge whether schools are coasting.
Coasting schools are those where standards have been mediocre for too many years and aren’t improving quickly enough.
Schools where standards could and should be higher, given their in-take and potential.
These include some schools rated ‘Requires Improvement’ – but who aren’t improving quickly enough.
And other schools rated ‘Good’ at their last inspection – but which haven’t been maintaining high standards since.
They are giving children “just enough” to avoid falling beneath our floor standards.
But frankly ‘just enough’ isn’t good enough for my children, and it shouldn’t be for yours.
So we’re going to say to those schools: if you’re not making fast enough progress in raising standards, you have to change and if you can’t do it yourself, you have to become a sponsored Academy and welcome in people with a proven track record of running outstanding schools.
Taken together, these changes mean we will turn around 1,000 more failing schools and improve hundreds more coasting schools.
This will all be incredibly difficult to push through.
But I see it as a fundamental test of this Government to see these reforms through.
Third, to extend opportunity, we need to give all those who can work, the chance to get a decent well-paid job.
As George Osborne and Iain Duncan-Smith said yesterday – reforming the damaging culture of welfare dependency and ensuring that work pays is central to our mission to make Britain fit for the future.
We have already come a long way in the last five years.
In the last Parliament we created Universal Credit so that work would always pay.
We capped benefits so we struck the right balance between incentivising work and supporting the most vulnerable.
And we set up the largest programme to get people into work since the 1930s with over a million people coming off the main out of work benefits and over 2 million getting into work.
But when it comes to reforming, we still have further to go.
I want to be clear about my approach to that reform. It’s a One Nation approach.
Whatever the pressures, we will stand by my promises to protect the most vulnerable – including the most disabled who cannot work because that’s the sign of the compassionate country I believe in.
We will always protect pensioners, because they have earned a secure retirement.
And we will always make sure that work pays – so people in work are rewarded.
In particular, that means two things.
One – helping those still unemployed back into work.
So we will double down on our reforms to remove perverse incentives in the system, further rolling out universal credit and lowering the benefit cap.
And we will do more to improve the employment outcomes for disabled people and for those from ethnic minority backgrounds.
This is a fundamental part of what I called in the election campaign my 2020 vision with 20 per cent more jobs, 20 per cent more university places and a 20 per cent increase in apprenticeship take-up for black and minority ethnic communities by the end of the decade.
It goes right to the heart of the One Nation ideal.
And it’s as vital for our society as it is for our economy.
It’s one reason why I want National Citizen Service to become a right of passage for all 16 and 17 year olds, changing attitudes by bringing together young people from every community and giving them the skills they need to get on in life and work.
And it’s also why I want us to continue pioneering world-leading social interventions – like our social impact bonds so that private and voluntary sector organisations which succeed in helping the hardest to reach get into work can be rewarded with some of the savings they deliver to the taxpayer.
Two – helping those in work, but on low pay.
That means dealing with the ridiculous merry-go-round I spoke about earlier.
That is why we are restoring some of the value of the minimum wage.
The minimum wage is rising to £6.70 per hour from October 2015 – the largest real-terms increase since the financial crash and it’s forecast to rise to £8 by 2020 on current projections.
It is why we have increased the amount you can earn without paying tax, saving a typical taxpayer £825 a year and it’s why we will take 1 million out of tax by increasing the tax free threshold to £12,500.
Add the 30 hours of free childcare we will introduce for working families, and rewards from work will be even stronger.
By taking on government failure and backing family, education and work we are not just reframing the debate on extending opportunity, we could actually change the lives of many of the most disadvantaged people in our country.
People who for generations were given a few extra pounds and expected to accept their fate.
People who have grown up thinking that real success was something for other people and that they could never fulfil their dreams.
Within our grasp is the opportunity for every child in Britain to have the chance to go as far as their talents will take them.
Building a brighter future is what politics should be about.
It’s what I am about.
And it’s what this government will work tirelessly to deliver over the next five years.
Following the Urgent Question on the crisis in Calais, Shadow Home Secretary, Yvette Cooper MP said:
“The situation in Calais is extremely serious – causing real problems for lorry drivers, travelling families and creating serious safety risks which put lives at risk. The Prime Minister needs to have urgent discussions with the French Government at the EU summit this week to resolve it. We need the French authorities do more, but also wider co-operation across Europe to tackle this. Following the Home Secretary’s discussion with the French Interior Minister about the immediate crisis, we also badly need a sustainable plan to prevent the problem at Calais in the first place.
“It must include assessment of people’s immigration status as they travel through Europe. Illegal immigration should be tackled much earlier to prevent illegal camps springing up in Calais in the first place. Those who are refugees fleeing conflict or persecution should be given help and support earlier, so vulnerable people are not travelling across continents. And it needs more action to deal with the humanitarian crisis in the Mediterranean which is leading to so many more people making the dangerous trip.
“And we also need more staff working on UK border checks and controls. We have called for some time for 1000 extra border staff, funded by visa reform, to make sure rules are properly enforced.”
NEW YORK, June 24, 2015 (GLOBE NEWSWIRE) — Nasdaq (Nasdaq:NDAQ) and Global Access Services, the exchange group’s market solutions provider for the financial services community, and Equinix, the global interconnection and data center company, today announced that Nasdaq is moving its Disaster Recovery (DR) site for the US equities and options markets in a phased approach from Ashburn, Virginia to Chicago, Illinois beginning in August 2015. The new DR will be located in the Nasdaq Point of Presence (Nasdaq POP) within the Equinix Chicago data center (CH4) located in 350 E. Cermak on the 8th floor. The recently launched Nasdaq POP in Chicago, along with the Nasdaq POP in Equinix’s Secaucus, New Jersey campus, allows customers to connect directly to any of the Nasdaq market systems from remote financial data centers.
“Migrating our disaster recovery facility to Chicago will be convenient, cost effective and more efficient for our market participants,” said Tom Wittman, Head of Global Equities and Executive Vice President of Global Trading and Market Services at Nasdaq. “Chicago is home to many primary and disaster recovery engines. We will continue making the DR facility available to additional Nasdaq markets throughout 2015 and beyond.”
Equinix provides a neutral meeting place for the world’s leading financial market participants, including trading venues, buy- and sell-side firms, market data providers, technology providers and financial networks. More than 850 financial services customers locate servers and infrastructure within Equinix data centers to support mission-critical financial services applications with highly reliable, low-latency connectivity. The expansion by Nasdaq further enhances Equinix’s global electronic trading ecosystem, providing the interconnection options that companies need to meet business demands.
“As one of the largest carrier hotels in the country, 350 Cermak is the focal point for Chicago’s financial markets and is ideally located to provide connectivity to more than half a dozen exchanges plus hundreds of broker dealers, crossing and other network providers, market data distributors, liquidity providers, and application providers all located in the same building or nearby in downtown Chicago,” said Stewart Orrell, Senior Director, Global Market Development. “Equinix and Nasdaq have a long-standing relationship and we are excited Nasdaq continues to leverage our global data center platform to meet their changing business needs.”
The eSpeed platform was Nasdaq’s first market to launch its DR facilities in Chicago in the fourth quarter of 2014. The Nasdaq Futures, Inc. (NFX) will go live with Chicago as its primary DR site when the platform launches later this year.
Nasdaq’s DR facility in Chicago provides regional diversity for business continuity planning, with further distance from the exchange group’s primary U.S. data center and less chance of impact from natural disasters that affect the East Coast region. The location will be convenient for clients who already maintain trading systems in Chicago. Clients utilizing the DR facility will achieve cost-efficiency with a simple cross-connect from their existing connectivity or presence in Chicago.
Nasdaq’s Global Access Services group provides trading opportunities and market solutions for the financial services community to facilitate our clients’ growth. As a connector, Nasdaq brings global trading opportunities closer to clients. Nasdaq protects clients through Global Access Services’ comprehensive risk, compliance and reporting platforms. Global Access Services is also an enabler, with outsourcing and warehouse solutions which allow clients to easily handle operations and concentrate on growing their business.
Equinix, Inc. (Nasdaq:EQIX) connects the world’s leading businesses to their customers, employees and partners inside the most interconnected data centers. In 33 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
Chain Will be Inaugural Client on Nasdaq Private Market to Leverage Blockchain Technology
NEW YORK and SAN FRANCISCO, June 24, 2015 (GLOBE NEWSWIRE) — Nasdaq (Nasdaq:NDAQ) today announced a new partnership with Chain, the leading blockchain infrastructure provider to financial institutions and enterprises, to leverage the blockchain platform to facilitate the secure issuance and transfer of shares of privately-held companies. Chain, currently privately-held, plans to be the inaugural company to use the blockchain technology on Nasdaq Private Market.
“We are excited about the potential impact of this new endeavor with Chain on the transaction process,” said Bob Greifeld, CEO, Nasdaq. “This Nasdaq Private Market project aims to simplify the overwhelming challenges private companies face with manual ledger record-keeping. As blockchain technology continues to redefine not only how the exchange sector operates, but the global financial economy as a whole, Nasdaq aims to be at the center of this watershed development.”
The new partnership with Chain marks the latest milestone on Nasdaq’s exploratory approach to apply blockchain technology across the company. In May, Nasdaq announced initially leveraging the Open Assets Protocol, a colored coin innovation built upon the blockchain. In its first application expected later this year, the company plans to launch blockchain-enabled digital ledger technology to expand and enhance the equity management capabilities offered by its Nasdaq Private Market platform.
“Chain is thrilled to be working with Nasdaq on blockchain initiatives which will reduce the time, costs, and points of friction across the capital markets,” said Adam Ludwin, CEO of Chain. “Nasdaq’s technology and thought leadership in creating new, dynamic markets will carry over into the blockchain space in truly disruptive ways.”
By using the blockchain to represent securities and manage capitalization tables, stockholders can seamlessly transfer securities between entities, and companies and their affiliates can be provided with a complete historical record of issuance and transfer of their securities. Importantly, the use of a blockchain-based distributed ledger can also offer integrity, audit ability, issuance governance and transfer of ownership capabilities.
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to more than 3,500 listed companies with a market value of approximately $9.5 trillion and more than 10,000 corporate clients. To learn more, visit: nasdaq.com/ambition or business.nasdaq.com.
About Nasdaq Private Market
Nasdaq Private Market is the premier equity services provider to private companies. Our end-to-end solution enables private companies to digitize, integrate, and control all of their equity-related functions, including cap table management, shareholder liquidity, investor relations, and capital raising. Whether a company seeks to optimize an eventual IPO or remain private permanently, Nasdaq Private Market provides comprehensive capital market support to meet its needs. For certain eligible investors and shareholders, Nasdaq Private Market is a place to discover and engage with some of the most exciting private companies. The NASDAQ Private Market, LLC is not: (a) a registered exchange under the securities exchange act of 1934; (b) a registered investment adviser under the investment advisers act of 1940; or (c) a financial or tax planner, and does not offer legal advice to any user of the NASDAQ Private Market website. Securities-related services are offered through NPM Securities, LLC, a registered broker-dealer and alternative trading system, which is a member FINRA/SIPC and a wholly-owned subsidiary of the NASDAQ Private Market, LLC. Securities offered through NPM Securities, LLC are not listed or traded on the NASDAQ Stock Market LLC, nor are the securities subject to the same listing or qualification standards applicable to securities listed or traded on the NASDAQ Stock Market LLC. To learn more, visit www.npm.com.
Chain.com is the leading block chain infrastructure provider to financial institutions and enterprises. Chain’s platform enables the development and operation of reliable, secure, and private block chain based products and services. Chain’s infrastructure services can power any asset type–including securities–on any block chain. Chain’s customers span the payments, banking, capital markets, telecom, and energy markets. The company also serves thousands of individual developers and start-ups building innovative products with block chain technology.
Chain.com is based in San Francisco, CA and is backed by leading venture firms Khosla Ventures, RRE Ventures, and Thrive Capital.
DENVER, CO–(Marketwired – June 23, 2015) – Students graduating from MBA and master’s-level business and management programs highly value their education and are having great success landing jobs — on average at salaries nearly double their pre-degree salary — according to a Graduate Management Admission Council(R) (GMAC(R)) survey report released today as the industry gathers in Denver, Colo., for the Council’s 45th Annual Conference.
“In an education market where questions of value are raised regularly at various stages — from application to admissions to graduation — business school graduates are clear in their judgment that their degrees not only provided immediate value, but lasting value,” said Bob Alig, GMAC’s executive vice president for school products.
Of the 3,000-plus graduate b-school students in this year’s class who responded to the 2015 GMAC Global Management Education Graduate Survey (GMEGS), 9 in 10 (89 percent) rate the value of their degree as a good to outstanding value and 88 percent would recommend their program to others considering a graduate business degree.
Many factors influence students’ perceptions of the overall value and return on investment of their education, most notably program structure, curriculum, and faculty. In addition, skill development, including the incorporation of integrated reasoning skills into their curriculum, also influences students’ likelihood to recommend their program.
Graduates who received early job offers reported significantly higher levels of development in the following skill areas: managing human capital, knowledge of general business functions, and interpersonal orientation (i.e., working well with others). The prevalence of team projects — accounting for 23 percent of class time, on average — likely factors into the development of interpersonal orientation.
“What stands out in the GMEGS survey, as well as in other surveys we have conducted over the years, is that a graduate management degree is an outstanding investment in the personal, professional, and financial aspirations of these students,” Alig added.
Class of 2015 graduates feel their graduate management education succeeded in increasing their employability. A majority of the soon-to-be-graduates surveyed in February and March of 2015 agreed that their degree:
The jobs outlook for b-school grads remains strong in 2015:
About GMAC: The Graduate Management Admission Council (gmac.com) is a nonprofit education organization of leading graduate business schools and owner of the Graduate Management Admission Test(R) (GMAT(R)), used by more than 6,100 graduate business and management programs worldwide — along with other products designed to help students find, connect, and apply and gain admittance to business and management programs around the world. GMAC is based in Reston, Va., and has regional offices in London, New Delhi and Hong Kong. The GMAT exam — the only standardized test designed expressly for graduate business and management programs worldwide — is continuously available at 600 test centers in 113 countries. More information about the GMAT exam is posted on mba.com. For more information about GMAC, please visit gmac.com/newscenter.
“Biobased product” certification and label for Bio-On bioplastic
renewed by the United States Department of Agriculture
Bologna 24th June 2015 – The bioplastic developed by Bio-On S.p.a. is set to continue contributing towards the growth of the U.S. biobased products industry, which according to the United States Department of Agriculture (USDA) reached 369 billion dollars and 4 million jobs in 20131.
Bio-on PHA bioplastic, completely naturally biodegradable, has obtained from USDA the renewal of the biobased certification issued in 2014. The USDA Certified Biobased Product Label certifies that the quantity of ingredients from biological sources used to make the products being certified meets the levels set by the Department. Biobased products are the finished or intermediate materials made up entirely or to a significant extent of agricultural, forest or marine ingredients. All requests for certification are verified by integrated and independent laboratories and monitored by the USDA. Consumers can thus have full confidence and be able to make better-informed buying decisions.
“We are proud that Bio-on has earned the USDA Certified Biobased Product Label,” says Ron Buckhalt, USDA BioPreferred Program Manager, “Products from biological sources add value to renewable agricultural raw materials, create jobs in rural communities and help our society reduce its dependence on non-renewable raw materials such as oil”.
According to a study recently published by the USDA, in the United States alone the use of biobased products saves 300 million gallons of oil every year. This is equivalent to 200 thousand fewer cars on the roads. The contribution to employment is also noteworthy: each job in the biobased industry is responsible for generating 1.64 jobs in other sectors of the economy.
“We are extremely pleased to have obtained the renewal of this important recognition,” says Marco Astorri, Chairman and co-founder of Bio-on, “Our mission is to develop and produce eco-friendly, natural biopolymers. This certification makes us very proud and confirms our commitment to the growth of the bio-economy”.
The USDA BioPreferred programme was created out of the Farm Security and Rural Investment law of 2002 (2002 Farm Bill), and extended by the Food, Conservation and Energy Act of 2008 (2008 Farm Bill). The aim is to increase the purchase and use of biobased products. The programme is managed by the United States Department of Agriculture. Products that meet the requirements of the USDA BioPreferred programme bear a distinctive trademark for easier identification by consumers. To find out more about the USDA Certified Biobased Product Label, visitwww.biopreferred.gov, or follow @BioPreferred on Twitter.
Bio-On S.p.A., an Italian Intellectual Property Company (IPC), operates in the bioplastic sector conducting applied research and development of modern bio-fermentation technologies in the field of eco-sustainable and completely naturally biodegradable materials. In particular, Bio-On develops industrial applications through the creation of product characterisations, components and plastic items. Since February 2015, Bio-On S.p.A. has also been operating in the development of natural and sustainable chemicals for the future.
Bio-On has developed an exclusive process for the production of a family of polymers called PHAs (polyhydroxyalkanoates) from agricultural waste (including molasses and sugar cane and sugar beet syrups). The bioplastic produced in this way is able to replace the main families of traditional plastics in terms of performance, thermo-mechanical properties and versatility.
Bio-On PHA is a bioplastic that can be classified as 100% natural and completely biodegradable: this has been certified by Vincotte and by USDA (United States Department of Agriculture). The Issuer’s strategy envisages the marketing of licenses for PHAs production and related ancillary services, the development of R&D (also through new collaborations with universities, research centres and industrial partners), as well as the realisation of industrial plants designed by Bio-On.
Atico Intercepts 116m of 5.61% Cu and 1.99g/t Au and 35m of 7.10% Cu and 8.94g/t Au at El Roble Mine in Colombia
VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 23, 2015) – Atico Mining Corporation (TSX VENTURE:ATY)(OTC PINK:ATCMF) (“Atico” or the “Company”) is pleased to announce that ongoing infill drilling at the El Roble mine continues to extend mineralization at Zeus, approximately perpendicular to the strike direction of the massive sulfide body. In addition, the Company reports the results for five diamond drill core holes (ATD-0010 through ATD-0014), which included 116m of 5.61% copper and 1.99g/t gold and 35m of 7.10% copper and 8.94g/t gold, respectively.
Fernando E. Ganoza, CEO, commented: “We are pleased to report yet another successful batch of drill results where the infill drilling at El Roble continued to intercept high grade mineralization at the Zeus-Aquiles-Ares massive sulfide body beyond the previously outlined mineralized shell. These results continue to increase confidence in our view that mineralization remains strong and open at depth. We plan to continue the drill program at the mine well into the second half of the year at which time the Company plans to update the resource estimate.” Mr. Ganoza added, “with the continued success of the ongoing drill program and the extension of mineralization at depth and along strike, management has initiated evaluating potential scenarios for a subsequent scale-up of the El Roble mill.”
El Roble Drilling Highlights Include:
From To Interval Cu Au Ag
Hole (m) (m) (m) (%) (g/t) (g/t)
ATD-0012 175.45 210.50 35.05 7.10 8.94 31.19
Including 175.45 186.80 11.35 2.45 19.05 72.81
ATD-0013 156.90 209.80 52.90 6.43 1.40 4.53
Including 180.30 195.80 15.50 7.66 1.60 4.91
ATD-0014 158.20 273.95 115.75 5.61 1.99 7.77
Including 221.15 241.35 20.20 11.21 2.22 7.88
True widths are dependent on uncertainties in the local strike and dip of the mineralization and are estimated to be between 76% and 83% of the drill intercept.
Infill Drilling Program
The goal of the current underground drilling program at the El Roble mine is to further define the known mineralized bodies and expand the identified resource. During the fourth quarter of 2014, the Company began a drill program to specifically test the Zeus, Aquiles and Ares mineralized bodies. Infill drilling approximately perpendicular to the strike direction of the known massive sulfide bodies (318 degrees average strike, 85 degrees east average dip) and drilling of new prospective areas below the 2000-meter level is being conducted from the new main level 1880 adit. Subsequent to the six holes of the program (ATD-0004 to ATD-0009) where drilling significantly extended mineralization at Zeus and Aquiles as reported in May 2015 (See Atico news release dated May 6th, 2015), the Company is reporting the next batch of five drill holes (ATD-0010 to ATD-0014). Infill hole ATD-0013 intercepted a completely new area of mineralization significantly extending the massive sulfide body along strike to the south and to the west. Infill hole ATD-0014 intercepted a significantly larger interval of massive sulfide than had been modeled in the National Instrument 43-101 inferred resource estimate wireframes of Zeus, Aquiles and Ares (See Atico technical report dated August 27, 2013).
Figure 1 clearly shows the strong mineralized infill intervals between the Aquiles and Ares mineralized bodies relative to previous drilling and to the west of the Zeus mineralized body. The mineralization remains open to south west and at depth.
Figure 1 is available on the following link: http://www.aticomining.com/i/Maps/Zeus-Aquiles-Ares-Schematic-Models-Figure 1.jpg
Infill Drill Program Assay Results:
Azimuth Dip Length From To val Cu Au Ag
Hole ID (degrees) (degrees) (m) (m) (m) (m) (%) (g/t) (g/t)
ATD-0010 23 -17 237.40 No Significant Intercept
ATD-0011 16 -21 279.00 215.45 243.70 28.25 0.43 2.05 6.84
Including 215.45 222.00 6.55 0.85 3.21 10.93
233.10 243.70 10.60 0.31 2.76 8.22
ATD-0012 26 -19 258.40 175.45 210.50 35.05 7.10 8.94 31.19
Including 175.45 186.80 11.35 2.45 19.05 72.81
188.80 201.30 12.50 9.53 3.31 8.42
204.50 208.65 4.15 19.71 8.18 27.39
209.55 210.50 0.95 8.17 14.80 39.80
ATD-0013 36 -26 246.80 156.90 209.80 52.90 6.43 1.40 4.53
Including 157.60 169.80 12.20 7.90 1.71 7.46
180.30 195.80 15.50 7.66 1.60 4.91
198.85 203.65 4.80 12.35 2.24 6.57
ATD-00014 36 -36 299.85 158.20 273.95 115.75 5.61 1.99 7.77
Including 163.30 180.50 17.20 9.43 1.47 5.98
184.30 192.00 7.70 10.28 2.41 10.74
221.15 241.35 20.20 11.21 2.22 7.88
241.35 250.05 8.70 6.22 1.67 5.50
262.00 273.95 11.95 0.38 5.70 19.16
(i)True widths are dependent on uncertainties in the local strike and dip of the mineralization and are estimated to be between 76% and 83% of the drill intercept.
El Roble Mine
The El Roble mine is a high grade underground copper and gold mine with nominal processing plant capacity of 650 tpd, located in the Department of Choco in Colombia. Its commercial product is a copper-gold concentrate.
Since obtaining control of the mine on November 22, 2013, Atico has upgraded the operation from a nominal capacity of 400 tonnes per day. The mine has a continuous operating history of twenty two years, with recorded production of 1.5 million tonnes of ore at an average head grade of 2.6% copper and an estimated gold grade of 2.5 g/t. Copper and gold mineralization at the El Roble property occurs in volcanogenic massive sulfide (“VMS”) lenses.
Since entering into the option agreement in January 2011 to acquire 90% of El Roble, Atico has aggressively explored the mine and surrounding claims. The Company has completed 11,740 meters of diamond drilling and identified numerous prospective targets for VMS deposits on the 6,679-hectare property. This exploration led to the discovery of high-grade copper and gold mineralization below the 2000 level, the lowest production level of the El Roble mine. Atico has developed a new adit access from the 1880 elevation to develop these new resources.
Inferred mineral resource of 1.58 million tonnes grading 4.45 % copper and 3.17 g/t gold, at a cut-off grade of 0.72 % copper equivalent (See Atico technical report dated August 27, 2013). Mineralization is open at depth and along strike and the Company plans to further test the limits of the resource.
On the larger land package, the Company has identified a prospective stratigraphic contact between volcanic rocks and black and grey cherts that has been traced by Atico geologists for ten kilometers. This contact has been determined to be an important control on VMS mineralization on which Atico has identified 15 prospective target areas for VMS type mineralization occurrence, which is the focus of the surface drill program at El Roble.
Quality Assurance & Quality Control
Following detailed geological and geotechnical logging, drill core samples are split on-site with a diamond saw by Atico personnel. The 7 to 10 kilograms per meter of sample are submitted to the ALS Chemex laboratory in Medellin where they are dried, crushed and pulverized. After preparation, the samples are sent to ALS Chemex in Lima and assayed. The remaining half core sample is retained on-site for verification and reference purposes. All gold assays were obtained by standard 50 gram fire assay with AA finish. All copper and silver assays reported were obtained by aqua-regia sample dissolution of the sample followed by ICP analysis. The QA-QC program includes the blind insertion of certified reference standards as well as assay blanks and duplicates at a frequency of approximately one per 15 samples.
Dr. Demetrius Pohl, Ph.D., AIPG Certified Geologist, a qualified person under NI 43-101 standards and independent of the company, is responsible for ensuring that the information contained in this news release is an accurate summary of the original reports and data provided to or developed by Atico Mining Corporation. Dr. Pohl has approved the scientific and technical content of this news release.
About Atico Mining Corporation
Atico is a growth-oriented company, focused on exploring, developing and mining copper and gold projects in Latin America. The Company operates the El Roble mine and is pursuing additional acquisition opportunities. For more information, please visit www.aticomining.com.
Lord Falconer, Labour’s Shadow Justice Secretary, responding to reports of Michael Gove’s speech to the Legatum Institute, said:
“People will be bemused by the sight of the Justice Secretary complaining of a two nation justice system.
“Since the Tories took office access to justice has been all but dismantled for the poorest in our society. The number of social welfare cases being granted funding has plummeted, victims of domestic violence are struggling to get help, employment tribunal fees are a significant barrier to workplace justice and the essential safeguard that is judicial review has been severely restricted.
“Labour has long called for the rights of victims of crime to be enshrined in law – so it is welcome that the government is finally waking up to this issue.
“Instead of hand-wringing rhetoric he should get on with developing the evidence based cost effective solutions we need to improve access to justice for all.”
The Senate President, Bukola Saraki, and the Speaker of the House of Representatives, Yakubu Dogara, have yet again defied their party, the ruling All Progressives Congress, rejecting the APC’s nominees for top leadership positions in the two chambers of the National Assembly.
Messrs Saraki and Dogara defeated candidates nominated by the APC for the positions of Senate president and House Speaker respectively.
Ahmed Lawan and Femi Gbajabiamila were the APC’s official candidates for the positions of Senate President and House Speaker.
On Tuesday, the party wrote the two leaders directing them to adopt candidates who lost at the elections as principal officers.
In its letter, the party picked Mr. Lawan as Senate Leader; Sola Adeyeye as Chief Whip; George Akume as Deputy Senate Leader; and Abu Ibrahim as Deputy Whip.
For the House Representatives,Mr. Gbajabiamila is the party’s choice to emerge House Leader, while Mohammed Monguno would serve as Chief Whip; Alhassan Doguro Deputy Speaker; and Pally Iriase as Deputy Whip.
Sources at the National Assembly said while Mr. Dogara has agreed to a power sharing arrangement with the party, Mr. Saraki has vowed not to adopt any of the party’s nominees for the positions.
“What Dogara is saying is that if the party takes the House Leader, a member from his group should be the Chief Whip and so on. But Saraki is not ready to comply with the party’s directives at all.
“You know why Saraki is doing like that and making the party to be at his mercy? He is confident the party cannot mobilise the two-thirds majority to remove him,” the party official said.
He said the party was not prepared to negotiate its directives with any of the two leaders this time.
“The party has written letters to both the Senate President and the Speaker. What the party is expecting is compliance; nothing but compliance.”
Asked what the party would do should the National Assembly leaders decide to kick against the directive of the party, he said, “We are expecting him to do that. We are waiting for him. We shall wait for him.”
Members supporting Saraki want the positions zoned by the Senate as follows: Majority Leader, North-East; Deputy Majority Leader, North-West; Chief Whip, South-West; and Deputy Whip, South-South.
By contrast, lawmakers in support of the party said the APC must fill all the available positions.
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