Casten Almqvist
| Casten Almqvist | |
|---|---|
| Born | 1962 Stockholm, Sweden |
| Nationality | Swedish |
| Education | Journalisthögskolan i Stockholm (1987) |
| Occupation | Media executive |
| Company | Bonnier Group |
| Title | Chair of the Board, Bonnier News and Bonnier Books |
Casten Almqvist (born 1962) is a Swedish media executive who was chief executive of the Swedish commercial broadcaster TV4 from 2011 to 2022. From 2013 he also led the broadcasting business area of the Bonnier Group, which brought together TV4, the pay television and streaming service C More, the news production company Nyhetsbolaget and the Finnish broadcaster MTV Media. When Telia Company bought Bonnier Broadcasting in December 2019, Almqvist joined Telia's group executive management as head of its TV and Media business area.[1][2]
Almqvist trained as a journalist and began as a radio reporter and television producer before moving into management. In the 1990s he was a partner in the production company Strix Television and chief executive of the Modern Times Group channels TV3, ZTV and TV6. He then ran the Swedish arm of the advertising network McCann-Erickson, served as deputy chief executive of the internet company Spray, managed the design group Art & Technology by Proventus and worked as an independent media consultant. He joined Bonnier on January 1, 2008, as head of its business press, including the business daily Dagens industri.[3][4]
His time at TV4 was marked by a shift from linear broadcasting towards the streaming services TV4 Play and C More, and by several rounds of restructuring. The most contested was the decision in April 2014 to close all of TV4's local news broadcasts, which drew protests from staff and politicians. In 2016 he received the "Digital Change Leader" award in Sweden's annual Change Leader of the Year awards for his work on the digital transformation of TV4 and Bonnier Broadcasting.[5][6] When he announced his departure in October 2022, Telia's chief executive Allison Kirkby said that under his leadership TV4 had become Europe's most profitable commercial media company.[7]
Since leaving TV4, Almqvist has held board roles within the Bonnier Group. He has chaired Bonnier Books since October 2021 and became chair of Bonnier News at its spring 2024 annual general meeting. As of November 2026 he holds both chairs, and also sits on the boards of SF Studios and Uppsala University.[8][9]
Early life and education
Almqvist was born in Stockholm in 1962.[1] He graduated from Journalisthögskolan, the school of journalism in Stockholm, in 1987.[1][10] He also studied at the Stockholm School of Economics but did not complete a degree there.[3]
Career
Radio, SVT and Strix Television
After journalism school Almqvist worked as a news reporter and presenter at Radio Stockholm. He then moved to the public broadcaster Sveriges Television (SVT) as a producer, and later became a partner and producer at Strix Television, an independent production company.[3]
Modern Times Group
In the mid-1990s Almqvist was chief executive of TV3, ZTV and TV6, channels owned by the Swedish media group Modern Times Group (MTG).[3][1] His background at MTG was later noted in coverage of his career; in a 2011 interview he described MTG as a competitor with "an extremely strong culture that is about never giving up" (translated), and said its situation showed how fragile a television business could be.[3]
McCann-Erickson
Almqvist left television for advertising and became chief executive of the agency Rönnberg McCann and head of McCann-Erickson in Sweden. During his time there the agency Storåkers McCann was founded.[3][11]
Spray
Around 2000 Almqvist became deputy chief executive of Spray, a Swedish internet company, with responsibility for its media businesses.[3] In July 2000 he announced a new strategy for Spray's media holdings that focused on interactive media. Several narrower print and online titles were to be closed or sold, among them the action sports titles grouped under Funsport, the gaming magazine Missil and the Stockholm guide Rival, while the Spray portal itself was to be broadened. Almqvist said that after five years of uninterrupted growth the company would make much harder demands on results, and that the heads of the individual media units would carry as much commercial responsibility as editorial responsibility.[12]
After Spray Ventures sold Spray Networks, including the Spray portal, to Lycos, the company was reorganised in late 2000 into three business areas. Almqvist, as deputy chief executive of Spray Ventures, headed Spray Studios, the unit that held the companies expected to survive, chiefly the mobile content producer Moby and the business publisher Vision Media. He said in January 2001 that Moby had developed 16 SMS-based games and programmes that it sold mainly to mobile operators, and that Vision's subscription sales had risen by 50 percent during the autumn.[13]
By July 2001 Spray had decided to divest Vision. Almqvist, then deputy chief executive of Spray and chair of Itid, the company that held Vision, said Spray did not want to keep investing in something it could not be sure of earning back. He declined to disclose the terms, and said Spray would refocus as a consultancy offering advice, content production and content licensing to European media houses.[14] He left Spray in the autumn of 2001.[15]
Art & Technology by Proventus
In April 2002 Almqvist took charge of day-to-day operations at Art & Technology by Proventus, a design group backed by the financier and art patron Robert Weil. The group comprised the textile company Kinnasand, the Finnish furniture maker Artek and Snowcrash. He was initially hired as a consultant for six months, with responsibility for daily operations and business development, while the Italian executive Pio Barone Lumaga remained chief executive. Almqvist said he had long had a private interest in design, that the three companies were to grow organically, and that the group would also look at acquiring related businesses such as a design consultancy. He compared the role more to his work at McCann-Erickson than to his time at Spray.[15]
Consultancy and Lunarstorm
Almqvist then ran his own consulting business, Casten Almqvist AB, working on television and digital media.[3][4] In January 2007, on the same day that MTG announced it was buying the youth community Playahead, its rival Lunarstorm named Almqvist to its board as part of a broader strengthening of the board by its controlling owner Sten Mörtstedt.[11] Almqvist left the Lunarstorm board in October 2007. Asked about it later that year, he said it had been difficult to contribute as an external board member when the owner wanted to decide everything himself.[4]
Bonnier Business Press and Dagens industri, 2008 to 2011
In November 2007 Bonnier announced that Almqvist would become head of its business press division from January 1, 2008, succeeding Jonas Bonnier, and that he would join the group's management. The division included Dagens industri in Sweden and Børsen in Denmark, and business newspapers in 13 countries. Almqvist said his task was to develop the international business and to build on the combination of print, internet and television that Dagens industri used in Sweden. On expansion into new countries he said there were two options, starting a newspaper or buying one. He said he would wind down his consultancy, whose revenue had more than doubled in the previous two years, and leave the company dormant.[4]
Between 2008 and 2011 he served as chief executive of Bonnier Business Press, of Dagens industri and of Bonnier Digital.[3][1]
TV4, 2011 to 2022
Almqvist was appointed chief executive of TV4 in 2011, succeeding Jan Scherman, who had spent 21 years with the same employer.[1][3] In his first interview in the role, published in December 2011, he said that "to manage sounds passive" and that the company had to "reinvent" itself (translated). Almqvist had already merged the communications department with human resources and public affairs, a change after which the long-serving communications director left and Åsa Jamal joined from the agency JKL. Almqvist kept the broadcaster's editorial idea of quality, diversity and breadth, named SVT as the main competitor, and said the group would keep raising its programme budget. At the same time costs were being cut through outsourcing: advertising administration was moved to the external company Fireplace, metadata handling to Red Bee, and some financial administration to Bonnier's headquarters. The merger of the group's news coverage into Nyhetsbolaget was expected to save a further 50 million Swedish kronor over two years. Almqvist said the strategy for digital media would be tied to moving pictures, after a period in which the company had "been a bit everywhere" (translated).[3]
By September 2012 the group's management team, led by Almqvist, comprised the heads of four business areas (television channels, digital media, premium television and local television) and the heads of sales, communications and HR, and finance.[16]
Head of Bonnier Broadcasting
In February 2013, after Bonnier AB reported a loss for 2012 and replaced its structure with formal business area heads, Almqvist was given responsibility for the Broadcasting business area, which included TV4, Nyhetsbolaget and Finland's MTV Media. Almqvist also took over as chair of the Finnish company from Torsten Larsson, while Jonas Bonnier became chair of the TV4 Group.[17] In March 2013 Almqvist replaced Scherman as board chair of Nyhetsbolaget, when Åsa Tillberg was appointed its chief executive.[18] By 2016 he chaired C More, Nyhetsbolaget and MTV Media as head of the business area.[1]
In December 2015 Almqvist recruited Henri Caddeo from the cable operator Com Hem as chief technology officer for the whole Broadcasting area, with the task of coordinating the technology organisations of the TV4 Group, C More, Nyhetsbolaget and MTV. Almqvist said the aim was a technology organisation "where the technology is as attractive as the content, and where we talk as much about technology and user experience as we do about programming and sales".[19]
Closure of local news, 2014
On April 9, 2014, the broadcaster announced that it would close all its scheduled local news broadcasts, which were produced by 21 newsrooms in 24 editions, and instead add about 25 national reporters in nine locations. About 140 posts at Nyhetsbolaget were expected to go.[5][20] In the company's press release Almqvist said: "Today we spend almost half of our news resources on local television; that is not sustainable going forward" (translated), citing structural change in the media industry and uncertain regulatory conditions.[20] Almqvist told SVT that the channel was leaving "the idea of local journalism for a local audience" (translated) and would prioritise national news at 19:00 and 22:00, digital presence and the morning programme Nyhetsmorgon.[5] The decision is covered further under Controversies.
Digital strategy and the 2017 restructuring
In an interview with TV Bizz Magazine, Almqvist described the group's strategy as a "transformation from viewer to user". He said the group had invested heavily in technology and domestic content, had stopped running separate digital departments and worked in a "platform-agnostic way", and had aligned its linear, advertising-funded (AVOD) and subscription (SVOD) businesses. In May 2016 login was made mandatory on TV4 Play, a step Almqvist called "a scary and brave decision for a company that for more than 25 years had lived on making the content as accessible as possible"; the service later passed 3.4 million registered users. Almqvist also explained the closure of the niche channels TV4 Komedi and TV4 Fakta XL, a free-to-air sports channel under the C More brand, and a windowing strategy in which domestic dramas such as Farang premiered on C More before reaching free-to-air television. Asked about C More's continued losses, he said the company "needs to show profitability" but that the date of a turnaround had to be flexible.[21]
In April 2017 Almqvist presented a restructuring in which Nyhetsbolaget was to be merged back into Bonnier Broadcasting and 90 jobs cut. Resumé reported that the group aimed to save 400 million kronor a year after revenue and results at Bonnier Broadcasting had fallen. Almqvist rejected the description of a savings package, calling it a "transition", and said the channel had just had its best first quarter ever. Almqvist said the changes were driven by user behaviour and global competition moving faster than planned, and that only a handful of the 90 affected staff worked in journalism or programming. Under the proposal the number of national reporters fell from 24 to 18 and the newsrooms in Jönköping, Norrköping, Falun and Sundsvall were closed.[22]
Sale to Telia
On July 20, 2018, Telia Company agreed to buy Bonnier Broadcasting, and Almqvist was expected to lead the new business area combining the acquired channels with Telia's existing television operations. The deal was criticised by the Swedish government and the opposition because the Swedish state is a major owner of Telia. Almqvist disagreed, writing to SVT that "this is good for competition" because the broadcaster's competitors were now Google, Facebook, Netflix and Amazon. Almqvist said Telia was buying the company "for what we are" and that its editorial and journalistic independence was "completely central" (translated).[23]
The European Commission approved the acquisition on November 12, 2019, and the deal closed on December 2, 2019. Almqvist then joined Telia Company's group executive management, leading the new TV and Media business area.[2]
Telia years and departure
In the autumn of 2020 C More was moved out of the TV4 organisation and into Telia.[7] On February 1, 2021, Almqvist announced that 100 positions would be cut at the broadcaster. Almqvist told the channel's news service that profit had fallen by almost 50 percent in a year, "far more than a billion kronor" (translated), and called it "a heavy day to give news like this".[24]
In a statement for the 25th World Television Day in November 2021, Almqvist said broadcasters were "in the trust business", that the group's channels in Sweden and Finland had seen record news consumption during the COVID-19 pandemic, and that the news operation was the "number one driver to digital transformation".[25]
On October 13, 2022, Almqvist announced that he would leave TV4 and Telia after more than ten years. His deputy, Mathias Berg, took over all his responsibilities from December 1, 2022.[10][7] Almqvist said the company had gone "from being a linear channel house to a digital company with TV4 Play as the engine" (translated).[10] Telia announced at the same time that it would consolidate its television and streaming content under TV4 and MTV and move C More's premium content into TV4 Play and MTV Katsomo. Dagens Media noted that there had long been speculation that Telia wanted to sell the broadcaster, and that the changes could be seen as a further step in that direction.[7] Former TV4 chief executive Jan Scherman told Dagens industri, as reported by Realtid, that recombining TV4 and C More appeared to package the business for a sale.[26]
Bonnier Books and Bonnier News
In September 2021, while still a Telia executive, Almqvist was named chair of Bonnier Books from October 2021, succeeding Maria Curman, who had chaired the company since 2018 and was previously its chief executive. Bonnier Books groups the Bonnier family's book publishing businesses in Northern Europe, including Bonnierförlagen in Sweden, WSOY in Finland and Bonnier Media Deutschland, and the audiobook service BookBeat, which had passed 500,000 users and was available in seven countries at the time.[27][28] He remained chair as of November 2026.[8]
On January 26, 2024, Bonnier announced that Almqvist would become chair of Bonnier News at that spring's annual general meeting, succeeding Tomas Franzén, who had chaired the company since 2014. Almqvist also joined the boards of Dagens Nyheter, Expressen, Bonnier News Business and Bonnier News Local. Bonnier Group chief executive Erik Haegerstrand cited Almqvist's "extensive leadership experience from journalistic organisations and from driving digital transformation" (translated).[29] As of November 2026 Bonnier News lists him as its chair.[9]
Leadership and management style
Almqvist has spoken about failure as part of management. On taking over at TV4 in 2011 Almqvist said he was "proud that I have made many mistakes and learned things from them", provided one did not fail the same way repeatedly or too expensively, and said he wanted to strengthen the self-confidence and courage to experiment in the organisation (translated).[3] He has also said that being at the forefront "is not an end in itself" and is "often costly and rarely successful" (translated).[3]
Almqvist framed major cuts as forward-looking changes rather than responses to weak results. In 2017 he said the company wanted "to be two steps, or at least one step, ahead" of changes in viewer behaviour and global competition.[22] He made the same "two steps ahead" point in his TV Bizz interview, adding that "change is a constant condition if you want to be successful in our industry".[21]
A visible part of his time at TV4 was an annual appearance as a guest presenter of Nyhetsmorgon, the channel's morning news programme. Almqvist first presented it in the summer of 2015, when regular host Jesper Börjesson was on holiday, after a challenge from the programme's head Margaretha Zachrisson. He returned in 2016 and for a fourth time on August 11, 2018. His 2016 programme included an interview with the Spotify founder Daniel Ek.[30][31] Nyhetsmorgon's programme head Johanna Thulin Bratten said it was "extra fun" for the newsroom to have a chief executive who could lead the programme "with competence and credibility" (translated).[30]
Major deals and strategic decisions
- Spray media restructuring (2000 to 2001): closure or sale of several niche titles, a focus on interactive media, and later the divestment of Vision.[12][14]
- TV4 outsourcing (2011 to 2012): advertising administration moved to Fireplace and metadata to Red Bee; news coverage combined in Nyhetsbolaget with expected savings of 50 million kronor over two years.[3]
- Closure of TV4 local news (2014): all local broadcasts ended and about 140 posts affected.[20]
- Mandatory login on TV4 Play (2016): a move to collect user data for personalisation and targeted advertising.[21]
- Restructuring of Bonnier Broadcasting (2017): Nyhetsbolaget merged into Bonnier Broadcasting and 90 jobs cut.[22]
- Sale of Bonnier Broadcasting to Telia (2018 to 2019): Telia paid 9.2 billion Swedish kronor on a debt-free basis, plus contingent consideration of up to 1 billion kronor. Telia expected synergies of 600 million kronor a year at full effect from 2022.[2]
- Cuts of 100 posts at TV4 (2021): announced after profit fell by almost half in a year.[24]
Financial and market performance
When Almqvist took over in 2011, the TV4 Group had made a record profit in 2010 on revenue of more than 6 billion kronor. Almqvist said he expected revenue to grow in every part of the company in 2012.[3] In April 2017 Almqvist said the channel had just had its best first quarter ever, while Resumé reported that revenue and results at Bonnier Broadcasting as a whole had fallen.[22] In February 2021 he said profit had fallen by almost 50 percent in a year, a decline of well over 1 billion kronor.[24] In 2022 Telia's chief executive said the broadcaster had become Europe's most profitable commercial media company under his leadership, and still was.[7]
Board memberships and outside roles
- Chair of Bonnier News, from spring 2024[29][9]
- Board member of Dagens Nyheter, Expressen, Bonnier News Business and Bonnier News Local, from 2024[29]
- Chair of Bonnier Books, from October 2021[27][8]
- Board member of SF Studios and Uppsala University[9]
- Chair of C More, Nyhetsbolaget and MTV Media, while head of Bonnier Broadcasting[1][17]
- Member of Telia Company's group executive management, 2019 to 2022[2][7]
- Board member of Lunarstorm, January to October 2007[11][4]
- Board positions at Ahhaaa AB and The Chimney Pot, held in 2007[4]
Controversies
Closure of TV4 local news
The 2014 decision to end local news drew strong criticism. The journalists' union branch at Nyhetsbolaget and TV4 called it "a very strange decision in publishing terms" and "one of the biggest dismantlings of journalism in Swedish media in a long time", at a company making about a billion kronor in profit (translated).[5] Fifteen news chiefs at TV4's local newsrooms signed an open letter calling the decision "a serious strategic mistake" (translated). In a debate on SVT's Agenda, Sven-Erik Österberg, the governor of Norrbotten County, said he saw "democratic problems" in the closures. Almqvist replied that local journalism had been a central part of the channel's history, but that looking forward TV4 had to make "completely new and tough priorities" (translated).[32] The former news chief Jonas Gummesson demanded that the board overrule or dismiss Almqvist. Almqvist declined to comment on the latest protests, but wrote in a text message that it was good there had "always been room for differing opinions at Nyhetsbolaget and TV4" (translated).[33]
Äntligen hemma and the #MeToo movement
In October 2017 TV4 faced allegations of sexual harassment, racism and homophobia against Martin Timell, host of its home improvement programme Äntligen hemma, as part of the #MeToo movement. Almqvist told a crisis meeting of employees that the company would "act with full force", announced a "no exceptions, no tolerance" policy on harassment and discrimination, and set out a five-point plan. Production of the current season was stopped and Timell's contract was cancelled. Bonnier hired the law firm Setterwalls to carry out an independent investigation at TV4 and the production company Meter Television. TV4 management was accused of failing to act on allegations raised two years earlier, but Almqvist said there were no plans to relieve any managers of their duties. He also invited the chief executives of SVT, Discovery Sweden and MTG to discuss industry-wide measures.[34]
State ownership concerns over the Telia deal
The 2018 sale of Bonnier Broadcasting to Telia was criticised by Minister for Enterprise Mikael Damberg, who said he was "not impressed", and by the Moderate Party's economic policy spokesperson Elisabeth Svantesson, who called the deal "inappropriate", because of the state's large holding in Telia and the risk to diversity in the television market. Almqvist defended the deal as good for competition.[23]
Personal life
In 2011 Dagens Media reported that Almqvist was married with three children and a dog named Maximus, and lived in central Stockholm. He named the television comedy The Office as his favourite programme, and described his hidden talent as a well-developed memory for names, voices and faces.[3] In 2007 he said his main hobby had been squash, but that he had meniscus problems in both knees and was having physiotherapy.[4]
Recognition
- 2016: "Digital Change Leader" award (Årets utmärkelse, Digitala Förändringsledare) at Årets Förändringsledare, as chief executive of Bonnier Broadcasting including TV4[6][7]
See also
References
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 "Casten Almqvist". Bonnier AB. 2016. Retrieved November 12, 2026.
- ↑ 2.0 2.1 2.2 2.3 "Telia Company slutför förvärvet av Bonnier Broadcasting". Telia Company. December 2, 2019. Retrieved November 12, 2026.
- ↑ 3.00 3.01 3.02 3.03 3.04 3.05 3.06 3.07 3.08 3.09 3.10 3.11 3.12 3.13 3.14 3.15 Almer, Synnöve.""Jag tar över ett väldigt starkt företag"". December 21, 2011. Retrieved November 12, 2026.
- ↑ 4.0 4.1 4.2 4.3 4.4 4.5 4.6 "Almkvist till Bonnier Press". November 29, 2007. Retrieved November 12, 2026.
- ↑ 5.0 5.1 5.2 5.3 "TV4 lägger ner lokala nyhetssändningar". April 9, 2014. Retrieved November 12, 2026.
- ↑ 6.0 6.1 "Årets Förändringsledare". Årets Förändringsledare. Retrieved November 12, 2026.
- ↑ 7.0 7.1 7.2 7.3 7.4 7.5 7.6 Kihlström, Linnéa."Uppdaterad: Casten Almqvist lämnar TV4". October 13, 2022. Retrieved November 12, 2026.
- ↑ 8.0 8.1 8.2 "Board of Directors". Bonnier Books. Retrieved November 12, 2026.
- ↑ 9.0 9.1 9.2 9.3 "Bonnier News styrelse". Bonnier News. Retrieved November 12, 2026.
- ↑ 10.0 10.1 10.2 "Casten Almqvist slutar som vd för TV4". October 13, 2022. Retrieved November 12, 2026.
- ↑ 11.0 11.1 11.2 "Casten Almqvist till Lunarstorm". January 9, 2007. Retrieved November 12, 2026.
- ↑ 12.0 12.1 van den Brink, Rolf."Avveckling och hårdare krav ska göra Spray-medier lönsamma". July 24, 2000. Retrieved November 12, 2026.
- ↑ "Spray sätter hoppet till Moby och Vision". January 10, 2001. Retrieved November 12, 2026.
- ↑ 14.0 14.1 van den Brink, Rolf."Spray blir mediekonsulter". July 30, 2001. Retrieved November 12, 2026.
- ↑ 15.0 15.1 "Casten Almquist vice vd för designkoncern". April 17, 2002. Retrieved November 12, 2026.
- ↑ "TV4-Gruppens företagsledning". TV4-Gruppen. September 28, 2012. Retrieved November 12, 2026.
- ↑ 17.0 17.1 "Casten Almqvist tar över Bonnier Broadcasting". February 7, 2013. Retrieved November 12, 2026.
- ↑ "New CEO for Nyhetsbolaget". Bonnier. March 5, 2013. Retrieved November 12, 2026.
- ↑ "Henri Caddeo New CTO for Bonnier Broadcasting". Bonnier. December 8, 2015. Retrieved November 12, 2026.
- ↑ 20.0 20.1 20.2 Billengren, Astrid."TV4 lägger ned lokala nyheter". April 9, 2014. Retrieved November 12, 2026.
- ↑ 21.0 21.1 21.2 Chakarov, Georgi R.."TV4 stays two steps ahead". TV Bizz Magazine. Retrieved November 12, 2026.
- ↑ 22.0 22.1 22.2 22.3 "90 tjänster ska bort från TV4". April 20, 2017. Retrieved November 12, 2026.
- ↑ 23.0 23.1 Farran-Lee, Lydia."TV4:s vd: "Det här är bra för konkurrensen"". July 20, 2018. Retrieved November 12, 2026.
- ↑ 24.0 24.1 24.2 "Stora neddragningar på TV4: 100 tjänster ska bort". February 1, 2021. Retrieved November 12, 2026.
- ↑ "Tomorrow's TV created today: Casten Almqvist, CEO, TV4". The Global TV Group. November 15, 2021. Retrieved November 12, 2026.
- ↑ "Försäljning på gång? Telia slår ihop TV4 och C More igen". October 13, 2022. Retrieved November 12, 2026.
- ↑ 27.0 27.1 "New Chairman of the Board for Bonnier Books". Bonnier Books. September 20, 2021. Retrieved November 12, 2026.
- ↑ "TV4-chefen Casten Almqvist blir ny styrelseordförande för Bonnier Books". September 20, 2021. Retrieved November 12, 2026.
- ↑ 29.0 29.1 29.2 "Casten Almqvist ny ordförande för Bonnier News". January 26, 2024. Retrieved November 12, 2026.
- ↑ 30.0 30.1 "TV4:s vd Casten Almqvist tillbaka som sommarvikarie". June 29, 2018. Retrieved November 12, 2026.
- ↑ "TV4:s vd leder Nyhetsmorgon". August 10, 2016. Retrieved November 12, 2026.
- ↑ Wicklén, Johan.""Ser ett demokratiproblem med nedläggningen"". April 13, 2014. Retrieved November 12, 2026.
- ↑ Andersson, Katarina."Sista försöket att stoppa TV4:s släckning". April 22, 2014. Retrieved November 12, 2026.
- ↑ "TV4 caught in #MeToo wave as CEO unveils crisis measures". October 24, 2017. Retrieved November 12, 2026.