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TORONTO, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Electrovaya Inc. (“ Electrovaya ” or the “ Company ”) (NASDAQ: ELVA; TSX: ELVA), a leading lithium-ion battery technology and manufacturing company, is pleased to announce that the Company is commencing an underwritten public offering (the “ Offering ”) of its common shares (the “ Common Shares ”). All of the shares are being offered by the Company. The shares will be offered in the United States pursuant to a shelf registration statement (including a prospectus supplement thereto) previously filed with and declared effective by the Securities and Exchange Commission (the “ SEC ”) on September 25, 2024 in accordance with the Multijurisdictional Disclosure System established between Canada and the United States, and will be qualified for distribution in the provinces and territories of Canada by way of a prospectus supplement to the Company’s base shelf prospectus dated September 17, 2024, provided that no securities will be sold in the Province of Québec. Roth Capital Partners, Raymond James Ltd. and Craig-Hallum Capital Group LLC are acting as the co-lead book-running managers for the proposed Offering. The Company intends to use the net proceeds from the Offering to satisfy the cash collateral conditions for the loan approved by the Export-Import Bank of the United States announced by the Company on November 14, 2024, repayment of amounts under the Company’s existing working capital facility in advance of proposed bank refinancing and for the costs of such financing, and satisfaction of certain outstanding amounts in connection with the purchase of the Company’s Jamestown, New York manufacturing facility. The Offering is expected to be priced in the context of the market, with the final terms of the Offering to be determined at the time of pricing. There can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. The closing of the Offering will be subject to customary closing conditions, including the listing of the Common Shares on the Toronto Stock Exchange (“ TSX ”) and the Nasdaq Capital Market (“ NASDAQ ”) and any required approvals of TSX and NASDAQ. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available for free on the SEC’s website at www.sec.gov and the prospectus supplement filed in Canada will be available on the Company’s profile on the SEDAR+ website at www.sedarplus.ca. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the Offering, when available, may also be obtained by contacting Roth Capital Partners, LLC at 888 San Clemente Drive, Newport Beach CA 92660 by phone at (800)-678-9147 or e-mail at rothecm@roth.com . Prospective investors should read the preliminary prospectus supplement and accompanying prospectus relating to the Offering, and the base shelf prospectus and the other documents the Company has filed before making an investment decision. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction. Investor and Media Contact : Jason Roy VP, Corporate Development and Investor Relations Electrovaya Inc. 905-855-4618 / jroy@electrovaya.com About Electrovaya Inc. Electrovaya Inc. (NASDAQ:ELVA) (TSX:ELVA) is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries without compromising energy and power. The Company has extensive IP and designs, develops and manufactures proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. Electrovaya has two operating sites in Canada and a 52-acre site with a 135,000 square foot manufacturing facility in Jamestown New York state for its planned gigafactory. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com . Forward-Looking Statements This press release contains forward-looking statements, including statements regarding the intention to complete the Offering and the anticipated use of proceeds from the Offering. Forward-looking statements can generally, but not always, be identified by the use of words such as “may”, “will”, “could”, “should”, “would”, “likely”, "possible", “expect”, “intend”, “estimate”, “anticipate”, “believe”, “plan”, “objective” and “continue” (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements are necessarily based on assumptions, and involve risks and uncertainties, therefore undue reliance should not be placed on such statements. Material assumptions on which forward-looking statements in this news release include assumptions about the ability to profitably market the Common Shares. Material risks and other factors that could cause actual results to differ from any forward-looking statement market conditions and other risks that may be found in the prospectus supplement and base shelf prospectus filed in connection with the Offering, including those risks described under the heading “Risk Factors”, and the documents incorporated by referenced therein. The Company does not undertake any obligation to update publicly or to revise any of the forward looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.

Sky Labs Inc., BrainU Co., Ltd., and ANDOPEN Co., Ltd. as Innovation Award Winners , /PRNewswire/ -- Following its successful participation last year, Seongnam City will participate in CES 2025, the world's largest consumer electronics and information technology exhibition. The event will take place from , in , . Seongnam City will operate the "Seongnam Pavilion," which will support 25 local startups from the Seongnam region and highlight their innovative technologies and products. CES 2025 will attract approximately 4,400 companies and over 130,000 attendees worldwide. At CES 2024, Seongnam City garnered significant attention from domestic and international investors and buyers by showcasing startups with outstanding technological capabilities. This effort established valuable global networks and expanded market opportunities, achieving a total contract value of . These tangible outcomes highlighted the high level of satisfaction among participating companies. This year, Seongnam City, a leading innovative hub in , aims to actively support local startups in expanding into overseas markets and building global networks through its participation in CES 2025. The Seongnam Pavilion will feature cutting-edge technologies and products across advanced industries such as artificial intelligence (AI), healthcare, smart cities, and mobility. Through these efforts, Seongnam City seeks to further solidify its position as a "Global Innovation City." Notably, three companies from Seongnam were honored with CES Innovation Awards, demonstrating their technological excellence and global competitiveness on the world stage: Seongnam City stated, "By participating in CES 2025, we aim to showcase Seongnam's innovative technologies to the global stage and provide a launchpad for our startups to expand into international markets." Meanwhile, the Seongnam Pavilion will feature 25 companies, including BRYTN Co., Ltd., NTL HEALTHCARE Co., Ltd., EMTAKE Inc., AWESOME LAB Co., Ltd., JNL Co. Ltd., Linkface Co., Ltd., Emma Healthcare Co.,Ltd., NC& Co.,Ltd, Becon Co.,Ltd, LITBIG, Inc., GeodeSound., Inc, MEDIAIPLUS, INC, BoS Semiconductors, Sky Labs Inc., STRATIO, INC., BrainU Co., Ltd., analogue plus Co.,Ltd., EX Healthcare Inc., Mangoslab, Littleone, Bluefeel Co., Ltd., Aram Huvis Co., Ltd., Real Design Tech Co.,Ltd., Crescom Co., Ltd., ANDOPEN Co., Ltd. These companies are set to unveil their groundbreaking technologies at the exhibition. View original content to download multimedia: SOURCE Seongnam City

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Gulfstream Special Missions Awarded Significant Contract to Service U.S. Military Aircraft SAVANNAH, Ga. , Nov. 22, 2024 /PRNewswire/ -- Gulfstream Aerospace Corp., a business unit of General Dynamics (NYSE: GD), has been awarded a contractor logistics support services (CLS) contract from the U.S. Air Force Life Cycle Management Center for C-20 and C-37 fleets. This contract extends over a seven-year period and provides services to the U.S. Air Force, U.S. Navy, U.S. Marine Corps, U.S. Army and U.S. Coast Guard. "For nearly 60 years, Gulfstream has been a trusted partner to governments and military organizations worldwide, and we are honored that the U.S. Air Force has once again selected our company to support the U.S. military's fleet," said Mark Burns , president, Gulfstream. "This demonstrates the strength of our world-class Customer Support network and its ability to support all of our customers' missions. Gulfstream's Special Missions business delivers cutting-edge aircraft expertly engineered for a wide range of critical operations and is currently experiencing unprecedented activity with customers around the world." The latest CLS contract is valued at $991 million and includes a wide variety of support such as global maintenance, component overhaul, repair and modification services. Gulfstream Customer Support will perform the work at Joint Base Andrews, Maryland ; Joint Base Pearl Harbor-Hickam, Hawaii ; Ramstein Air Base, Germany ; Marine Corps Base Hawaii, Kaneohe Bay; and Naval Base Ventura County, California . To date, Gulfstream has delivered more than 200 special missions aircraft to over 40 countries, including all branches of the U.S. military and key U.S. government agencies. NOTE TO EDITORS Inspired by the belief that aviation could fuel business growth, Gulfstream Aerospace Corp. invented the first purpose-built business aircraft, the Gulfstream I, which first flew in 1958. Today, more than 3,200 aircraft are in service around the world. Together with parent company General Dynamics, Gulfstream consistently invests in the future, dedicating resources to researching and developing innovative new aircraft, technologies and services. With a fleet that includes the super-midsize Gulfstream G280, the record-setting Gulfstream G650 and Gulfstream G650ER, and a next-generation family of aircraft including the category-leading Gulfstream G400, the award-winning Gulfstream G500 and Gulfstream G600, the ultralarge-cabin Gulfstream G700 and the ultralong-range Gulfstream G800, Gulfstream offers an aircraft for every mission. All are backed by the worldwide Gulfstream Customer Support network. Learn more at gulfstream.com . Headquartered in Reston, Virginia , General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 100,000 people worldwide and generated $42.3 billion in revenue in 2023. More information is available at www.gd.com . View original content to download multimedia: https://www.prnewswire.com/news-releases/us-air-force-again-selects-gulfstream-for-fleet-support-302314414.html SOURCE Gulfstream Aerospace Corp.

Demolition began last week on the old visitor center at the Little Bighorn Battlefield National Monument near Crow Agency. The battlefield was recently awarded a construction contract to replace the 73-year-old visitor center. The National Park Service is coordinating with the park's associated tribes and stakeholders to develop interpretive exhibits that better tell the complex stories surrounding the landscape, site and people. The nearly $14 million project is funded by the Centennial Challenge program and donations through the National Park Foundation (NPF), including a lead grant from The Leona M. and Harry B. Helmsley Charitable Trust. The new 9,000-square-foot building will be constructed on the footprint of the old visitor center. Nomlaki Technologies LLC, based in West Sacramento, California, is a 100% tribally owned company of members of the Paskenta Band of Nomlaki Indians. The new building will provide prominent views of the battlefield and will feature a roof deck, an improved parking area, accessible walkways, and enhanced visitor amenities to accommodate increased visitor use.

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Technology giants such as Meta, TikTok and Snapchat have responded to the government's new social media laws, which ban children and teenagers under 16 from using the platforms. The world-first laws passed the Senate late on Thursday night and immediately made headlines around the world. Under the laws, which won't come into force for another 12 months, social media companies could be fined up to $50 million for failing to take "reasonable steps" to keep under 16s off their platforms. Now, the tech companies behind the apps used by millions of Australians have responded – and they have plenty of questions. Meta 'concerned' about 'rushed' legislation Meta, which owns both Facebook and Instagram, said in a statement that the company "respects the laws decided by the Australian Parliament". "However, we are concerned about the process which rushed the legislation through while failing to properly consider the evidence, what industry already does to ensure age-appropriate experiences, and the voices of young people. "Last week, the parliament's own committee said the 'causal link with social media appears unclear,' with respect to the mental health of young Australians, whereas this week the rushed Senate Committee report pronounced that social media caused harm." Meta says... Jessica Riga

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PALO ALTO, Calif.--(BUSINESS WIRE)--Dec 16, 2024-- In a letter to staff at the Gordon and Betty Moore Foundation, Harvey Fineberg, M.D., Ph.D., today announced his intention to step down as president of the foundation in late 2025 or early 2026, depending on when a successor is selected and prepared to take up the office. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241216559162/en/ Harvey Fineberg, M.D., Ph.D., president of the Gordon and Betty Moore Foundation (Photo: Business Wire) He “loves the work we do together,” he wrote, but after serving ten years as president, he explained “this is the right moment to recruit a new president who can lead the foundation for the next decade or longer.” “Harvey has been an outstanding president,” observed Kenneth Moore, chair of the Gordon and Betty Moore Foundation Board of Trustees. “His unwavering commitment to excellence, coupled with a visionary mindset, enables him to synthesize complex ideas into a seamless tapestry of insight, transforming challenges into opportunities and inspiring those around him to elevate their own contributions. He will leave the foundation in a strong position for ever greater achievement in the years ahead.” “I have been fortunate to work with many talented, dedicated, and principled people at the Moore Foundation and elsewhere,” Fineberg noted. “I will be ever grateful to Gordon Moore for inviting me to take up this position, to the entire Moore family for their continuing spirit of generosity, and to all trustees, past and present, who so ably served and serve the foundation.” Next year, 2025, marks the 25 th anniversary of grantmaking by the Gordon and Betty Moore Foundation. The board plans to initiate the search for Fineberg’s successor in the coming year. Grantmaking impact Under Fineberg’s leadership, the Moore Foundation’s Environmental Conservation Program extended its reach to market-based incentives alongside expanding place-based conservation programs in such critical regions as the Andes-Amazon, the Great Bear Sea in British Columbia, and the Arctic Ocean. The foundation supported many advances in sustainable fisheries, healthy ocean ecosystems, and marine conservation. The foundation enlarged its support for the conservation funding model called Project Finance for Permanence that brings together governments, communities, non-government organizations, and donors to provide comprehensive and enduring solutions, as in the Herencia Colombia (Heritage Colombia) initiative announced in 2022. The foundation accelerated application of natural capital approaches into development decisions and finance; served as a catalyst for global cooperation on nature-based solutions, and launched a major, new initiative on wildfire resilience. During Fineberg’s tenure, the Science Program inaugurated an experimental physics investigator program to provide core support for leading investigators in the field and established the Moore Inventor Fellows to enable brilliant, prospective inventors to pursue their dreams. The foundation extended explorations in quantum physics and systems biology, exploring such interdisciplinary topics as aquatic symbiosis and the evolutionary origins of motility in micro-organisms; invested in astronomical exploration, observatories, instrumentation, and astrophysics; supported development of novel, biological imaging devices and sophisticated instruments for precise, physical measurement; helped establish big-data, discovery capacity at leading universities; fostered and reinforced open science; adopted a new initiative in green chemistry; strengthened and expanded programs to engage youth in science and to support citizen science; and promoted science in policy through state-based fellowship programs to place scientists in state legislatures and executive offices. In preserving the special character of the Bay Area over the past decade, the Moore Foundation has made critical investments to protect undeveloped lands, natural ecosystems, and vital wildlife corridors. And the foundation is a generous supporter of Bay Area science and technology museums that provide exceptional educational opportunities for the public and spark excitement about science and technology in children of all ages. In unique cross-cutting investments, the foundation funded renovation and expansion of key environmental research stations in the South Pacific and in South America; and supported exceptional, science-based conservation opportunities in the Galápagos Islands and eastern Pacific Ocean. As a physician and public health leader, Fineberg helped ensure the legacy of the foundation’s historic contributions to nursing and the quality of health care, including through leadership programs based at the Betty Irene Moore School of Nursing at UC Davis and a highly consequential initiative on diagnostic excellence. “I am proud of the many achievements by our grantees and grateful for the partnerships with sister foundations and so many others who make that success possible,” Fineberg wrote in his letter. “I want especially to thank my foundation colleagues in the infrastructure, investment management, and program teams, and those in the president’s office, who make work at the Moore Foundation a daily joy and inspiration.” Leadership in science, health care and philanthropy During the COVID pandemic, Fineberg’s fortuitous background in public health lent clarity to the foundation’s policies, and he simultaneously served as chair of the National Academies standing committee on emerging infectious diseases and 21 st century health threats. In that role, Fineberg led in the production of more than 10 rapid expert consultations to assist government decision-making in the early months of the pandemic. During his tenure at the foundation, Fineberg chaired National Academies consensus committees on reproducibility and replicability in science and on a definition of long COVID. Fineberg chaired the board of the Carnegie Endowment for International Peace (2013-2018) and served as a member (2009-2022). He serves as trustee of the CMB Foundation (China Medical Board), an offshoot of the Rockefeller Foundation, and will take up the role of board chair in 2025. He serves on the board of the Israel Institute for Advanced Study and on the editorial board of the New England Journal of Medicine. Fineberg also serves on numerous advisory boards for domestic and international organizations, including the Peterson Center on Healthcare, the Veolia Environment Foresight Committee, the Aspen Health Strategy Group, the U.S. Comptroller General’s advisory board, the Thich Nhat Hanh Center for Mindfulness in Public Health at Harvard, the Vanke School of Public Health at Tsinghua University in Beijing, the scientific advisory board of the Singapore National Research Foundation, the Mavri Program to accelerate biomedical innovation and train physician-scientists in Israel, the Stanford Digital Health Center, and the Center on Diagnostic Excellence at UCSF (University of California San Francisco). He is a fellow of the American Association for the Advancement of Science and, in addition to the National Academy of Medicine, a member of the American Academy of Arts and Sciences and the American Philosophical Society. As an extension of his leadership at the Moore Foundation, Fineberg chairs the board of the Science Philanthropy Alliance, now including more than three dozen philanthropies that support science and are dedicated to helping philanthropists new to science to make fully informed choices. The Alliance has also been instrumental in promoting the role of philanthropy in the U.S. research enterprise, symbolized by this year’s enlargement of the National Academies’ research roundtable to include philanthropy alongside government, universities, and industry. Before joining the Moore Foundation, Fineberg served as president of the Institute of Medicine, where he engineered its conversion to the National Academy of Medicine. He helped found and served as president of the Society for Medical Decision Making. Fineberg previously served as provost of Harvard University and dean of the Harvard T. H. Chan School of Public Health. He served on the board of the William and Flora Hewlett Foundation and had taken up the role as chair before resigning to become president of the Moore Foundation. About the Gordon and Betty Moore Foundation Gordon and Betty Moore established the foundation to create positive outcomes for future generations. In pursuit of that vision, we advance scientific discovery, environmental conservation, and the special character of the San Francisco Bay Area. View source version on businesswire.com : https://www.businesswire.com/news/home/20241216559162/en/ CONTACT: Caitlin Cobb Caitlin.Cobb@moore.org 925-890-9766 KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: PHILANTHROPY ENVIRONMENT SUSTAINABILITY ENVIRONMENTAL HEALTH FOUNDATION RESEARCH SCIENCE SOURCE: Gordon and Betty Moore Foundation Copyright Business Wire 2024. PUB: 12/16/2024 05:00 PM/DISC: 12/16/2024 04:58 PM http://www.businesswire.com/news/home/20241216559162/enAwkward I’m A Celebrity blunder as two stars are ‘mixed up’ by cameramanCOLUMBUS, Ohio (AP) — A fight broke out at midfield after Michigan stunned No. 2 Ohio State 13-10 on Saturday as Wolverines players attempted to plant their flag and were met by Buckeyes who confronted them. Police had to use pepper spray to break up the players, who threw punches and shoves in the melee that overshadowed the rivalry game. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.

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- Preliminary Discussions Underway to Establish a Joint Venture SINGAPORE, Dec. 16, 2024 (GLOBE NEWSWIRE) -- EUDA Health Holdings Limited (“EUDA” or the “Company”) (NASDAQ: EUDA), a Singapore-based health technology company that operates a first-of-its-kind Southeast Asian digital healthcare ecosystem, today announced that it has entered into preliminary discussions with Guangdong Cell Biotech Co. Ltd. (“Guangdong Cell Biotech”), a prominent player in stem cell therapies and regenerative medicine, to form a joint venture. Guangdong Cell Biotech develops autologous cell treatments and tailored medicines for various disorders. This potential collaboration aims to leverage the complementary strengths of both companies to accelerate growth and innovation across the biotechnology and consumer health sectors. Discussions are focused on leveraging EUDA’s digital healthcare ecosystem as a platform to deliver cutting-edge regenerative therapies developed by Guangdong Cell Biotech to a broader audience in Southeast Asia. Guangdong Cell Biotech’s stem cell technology is expected to enrich EUDA’s healthcare services with innovative treatment options, enhancing the appeal and effectiveness of its digital platform. Guangdong Cell Biotech represents that it currently has 37 established stem cell and DNA medical treatment facilities in China and presence in Indonesia and Cambodia. A joint venture combining EUDA’s expertise in making holistic healthcare solutions accessible to everyone using its portfolio of products and advanced technologies, with Guangdong Cell Biotech’s leadership in stem cell treatment, will allow EUDA to enhance its market presence, improve product offerings, and deliver cutting-edge solutions to customers in Asia. Strategic Rationale The potential strategic partnership between EUDA and Guangdong Cell Biotech aims to: “We are excited about the opportunity to collaborate with Guangdong Cell Biotech,” said Kelvin Chen, CEO of EUDA. “While our discussions are in the early stages, we are optimistic about the potential to combine our strengths in offering non-invasive, holistic wellness consumer products through our ecosystem, with Guangdong Cell Biotech’s established 30+ stem cell and DNA medical treatment facilities, further diversifying our healthcare ecosystem and revenue streams going forward.” Wang Taihua, Founder and Chairman of Guangdong Cell Biotech, added, “This potential partnership reflects our shared vision of driving innovation and expanding the impact we have on wellness consumers in Asia. The market for stem cell treatment in China and across Asia is massive, and we look forward to exploring this opportunity and evaluating how we can transform the industry together.” Parties have not entered into a letter of intent or a legally binding agreement at this time. There is no guarantee that parties will form a joint venture or enter into a definitive written agreement to collaborate in the future. About EUDA Health Holdings Limited EUDA Health Holdings Limited is a Singapore-based health technology company that operates a first-of-its-kind Southeast Asian digital healthcare ecosystem aimed at making healthcare affordable and accessible, and improving the patient experience by delivering better outcomes through personalized healthcare. The company’s proprietary unified AI platform quickly assesses a patient’s medical history, triages a condition, digitally connects patients with clinicians, and predicts optimal treatment outcomes. EUDA Health’s holistic approach supports patients throughout all stages of care, including wellness & prevention, urgent care & emergencies, pre-existing conditions, and aftercare services. About Guangdong Cell Biotech Co. Ltd. Guangdong Cell Biotech Co. Ltd and its subsidiaries is a leading enterprise and backbone enterprise in the field of stem cell and regenerative medicine in China. The group has established three platforms of stem cell regenerative medicine, immune cell rehabilitation medicine and genomics, covering the field stem cell drug research, clinical research and transformation services, adult cell storage business, CAR-T immune cell products, and research and development of new cell derivative product. They have currently more than 70 invention patents and 3 international invention patents. The group now have over 30 branches and subsidies home and abroad, and cooperates intensively with more than 100 well-known research institutes and clinical institutes. Forward Looking Statements This document may contain forward-looking statements regarding risks and uncertainties. These statements usually use forward-looking words, such as the words “estimates,” “projected,” “expects,” “envisions,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions).These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside EUDA’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. sYou should not overly rely on forward-looking statements that are only applicable to the date of publication of this document. These forward-looking statements are based on information from EUDA and Guangdong Cell Biotech, as well as other sources that we believe are reliable. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. As parties have only entered into preliminary discussions at this time, they have not entered into any definitive legally binding agreement. There is also no guarantee that parties will form a joint venture or enter into a definitive written agreement to collaborate. The execution of a definitive agreement will be disclosed by EUDA. Contact: Christensen Advisory Roger Hu 852.2232.3968 roger.hu@christensencomms.com

Bank of Canada governor Tiff Macklem says the central bank is preparing for a future that looks more uncertain and more prone to shocks. In a speech to the Greater Vancouver Board of Trade, he said Monday structural changes are underway in the world including demographic shifts, technological changes, decarbonization and a move away from globalization. “We need to use the pandemic experience to prepare for future crises,” Macklem said in a prepared text of his speech. To that end, Macklem says the Bank of Canada is working to learn what it can from how the economy reacted to the pandemic and in its aftermath. The Bank of Canada is conducting a review of the policy actions it took to restore financial stability and support the economy during the pandemic that it plans to publish along with an assessment of an independent panel of experts. Macklem said the spike in inflation in 2022 was a reminder that even though inflation was relatively low and stable for 30 years leading up to the pandemic, central banks cannot take public trust for granted. “All of a sudden, people couldn’t afford the things they need. And while inflation is low once again, many prices are still a lot higher than they were before the pandemic. So people feel ripped off. And that erodes public trust in our economic system,” he said in his speech. The Bank of Canada has cut its key policy interest rate five times this year including last week when it reduced the benchmark by a half a percentage point to 3.25 per cent. Macklem says the bank will be evaluating the need for further reductions in the policy rate one decision at a time and anticipates a more gradual approach to monetary policy if the economy evolves as expected. Statistics Canada reported last month that the annual inflation rate was two per cent in Ontario, hitting the Bank of Canada’s target. The speech by Macklem came ahead of the release of the November inflation report on Tuesday. This report by The Canadian Press was first published Dec. 16, 2024. The Canadian PressDNY59/E+ via Getty Images This article was updated at 445p ET to reflect an 83% drop in the company's stock price following a trading halt. The U.S. FDA has declined to approve Applied Therapeutics' ( NASDAQ: APLT ) govorestat, its treatment for the rare metabolic disorder classic