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  • MIL-OSI Asia-Pac: Statement by all Members of Seventh LegCo on safeguarding national security

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Legislative Council Secretariat:
     
         All Members of the Seventh Legislative Council (LegCo) today (July 31) issued the following statement through the LegCo Secretariat:
     
         Safeguarding national security is the highest principle of “One Country, Two Systems”. All Members of the Seventh LegCo have full confidence that the Government of the Hong Kong Special Administrative Region (HKSAR) fully and faithfully implements, and resolutely protects the authority of the Hong Kong National Security Law (HKNSL) and the Safeguarding National Security Ordinance. This is also the constitutional duty and the bottom line of the HKSAR. The HKSAR Government and the governance team of the HKSAR, including LegCo, have resolute determination to safeguard national sovereignty, security and development interests.
     
         All LegCo Members stress that the Basic Law of the HKSAR of the People’s Republic of China (Basic Law) clearly stipulates that LegCo of the HKSAR shall be the legislature of the region. Fugitives endangering national security who fled overseas have been challenging the bottom line of “One Country, Two Systems” and the HKSAR’s national security. They blatantly organised the so-called “election” for the “Hong Kong Parliament”, seriously violating the Basic Law and the HKNSL, and undermining the Constitution and constitutional order of the HKSAR as established by the Basic Law. The unlawful election is nothing but a farce. Their aim was to disrupt the hard-earned stability and peace in Hong Kong, and attempted to commit the offence of subversion of state power, seriously endangering national security.
     
         Safeguarding national security is in line with international practice. LegCo Members firmly reject and castigate the biased, groundless, smearing and double-standard remarks by some politicians in western countries against the HKSAR Government’s lawful pursuit of individuals who endangered national security.
     
         The HKSAR Government’s decisive and swift law enforcement actions are not only righteous, but also reasonable, legal and constitutional. The actions are also widely supported by various sectors of the community. All LegCo Members fully support the Hong Kong Police Force in their lawful efforts to apprehend national security offenders who fled overseas. They also resolutely support the statement issued by the Office for Safeguarding National Security of the Central People’s Government in the HKSAR, and firmly support sanctions against the fugitives in order to safeguard national security and the stability of Hong Kong.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: ‘Space oil drug’ renamed etomidate

    Source: Hong Kong Information Services

    The “space oil drug” has officially been renamed as etomidate to help promote anti-drug messages, Secretary for Security Tang Ping-keung said today.
     
    Mr Tang made the announcement when he spoke to the media this afternoon after attending the Fight Crime Committee meeting and explained the reason behind giving the dangerous drug a new name.
     
    “When we look at the increase in drug offences, for the first half of 2025 we have 591 cases of serious drug offences. Among those drug (cases), one-fourth of them is relating to etomidate.
     
    “Previously we called it ‘space oil drug’, and some of the drug traffickers make use of the name to promote a sort of fantasy and some positive feelings after taking drugs. I think this is absolutely wrong.
     
    “Etomidate only brings you harm. It will make you behave abnormally, and will cause (defacement) in your appearance, such as losing hair. I think we have to properly name it as etomidate.”

    MIL OSI Asia Pacific News –

  • MIL-OSI: NowVertical’s Integrated Model Drives Cross‑Market Growth in Strategic Accounts

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, July 31, 2025 (GLOBE NEWSWIRE) — NowVertical Group Inc. (TSXV: NOW) (“NowVertical” or the “Company”), a leading data and AI solutions provider, today provided an update which highlights geographic expansion in two marquee engagements that illustrate how a single operating framework converts early local wins into scales enterprise‑wide programmes.

    During the first half of 2025, NowVertical substantially deepened its work with one of the world’s largest insurers—a strategic account client that operates in more than forty countries. Leveraging the Company’s status as Google Cloud Partner of the Year, the engagement has evolved from a single‑country project into a Latin‑American data‑modernisation and AI initiative that migrates fragmented estates onto a common cloud architecture, delivers advanced analytics to business users and applies robust data governance. The approach delivered by NowVertical is a central, consistent, high-quality delivery capability providing services which can be tailored to meet the specific needs of each geography. Revenue generated from this account in the first six months of 2025 already surpasses the client’s full‑year 2024 spend with NowVertical, demonstrating both the speed and scale at which the integrated model can grow strategic relationships.

    A similar growth trajectory is underway with a global media and telecommunications group, where NowVertical’s solution has been adopted as the enterprise standard for managing and modernizing legacy data assets in preparation for AI adoption. Initially launched in the UK & Ireland market in 2024, the solution has now been implemented across eight projects within the group, including recent expansions into Italy and Germany, with additional deployments scheduled for H2 2025. By integrating legacy and modern data through standardized schemas, automated archival processes, and unified retention and compliance controls, the platform not only delivers measurable cost savings but also unlocks significant strategic value. The transformed data estate serves as a compliant, AI-ready foundation for advanced analytics and model training—supporting both regulatory requirements and long-term innovation objectives. This rollout reflects the repeatability of NowVertical’s delivery playbook, its ability to scale across complex enterprise environments, and its alignment with clients’ global data modernization and AI-readiness agendas.

    Sandeep Mendiratta, Chief Executive Officer of NowVertical, commented: “Clients are choosing to scale with NowVertical because we can help them bring one architecture, one governance model and one integrated team that can deliver quickly from country to country. These engagements prove that our ‘One Brand, One Business’ strategy is translating early successes into broad, multi‑region programmes that drive measurable value for customers and sustainable growth for NowVertical.”

    Management believes that the growing contribution from these cross‑market engagements supports the Company’s ability to grow it’s strategic account base while reinforcing NowVertical’s position as a trusted, full‑stack data and AI partner.

    About NowVertical Group Inc.

    NowVertical is a global data and analytics company which helps clients transform data into tangible business value with AI, fast. Offering a comprehensive suite of solutions and services, the Company enables clients to quickly harness the full potential of their data, driving measurable outcomes and accelerating potential return on investment. Enterprises optimize decision-making, improve operational efficiency, and unlock long-term value from their data using the Company’s AI-Infused first party and third-party technologies. NowVertical is growing organically and through strategic acquisitions.  

    For further details about NowVertical, please visit www.nowvertical.com. 

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    For further information, please contact:

    Andre Garber, CDO  
     IR@nowvertical.com  

    Investor Relations: Bristol Capital Ltd. 

    Stefan Eftychiou 

     stefan@bristolir.com

     +1(905)326-1888 x60  

    Forward-Looking Statements

    This news release contains forward-looking information and forward-looking information within the meaning of applicable Canadian securities laws (together “forward-looking statements“), including, with respect to the availability of funds under the Facilities, the ability of NowVertical to utilize funds under the Facilities, the effect of the Facilities on NowVertical’s operations contemplated in this press release on NowVertical’s business, finances and operations. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies, certain of which are unknown. Forward-looking statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the forward-looking statements and the forward-looking statements are not guarantees of future performance. Forward-looking statements are qualified in their entirety by inherent risks and uncertainties, including: adverse market conditions; risks inherent in the data analytics and artificial intelligence sectors in general; regulatory and legislative changes; that future results may vary from historical results; inability to service the Company’s debt; any inability to realize the expected benefits and synergies of acquisitions or dispositions; that market competition may affect the business, results and financial condition of the Company and other risk factors identified in documents filed by the Company under its profile at www.sedarplus.com, including the Company’s management’s discussion and analysis for the year ended December 31, 2024. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

    The MIL Network –

  • MIL-OSI NGOs: Nuclear Science and Nuclear Security Infrastructure to Protect Rare Rhinos: IAEA-Supported Project Marks a Milestone

    Source: International Atomic Energy Agency (IAEA) –

    The Rhisotope Project team inserting radioactive isotopes into rhino horns. (Martin Klinenboeck/IAEA)

    In a pioneering effort to combat wildlife trafficking of the threatened rhinoceros, a South African University today began implementing a project supported by the International Atomic Energy Agency (IAEA). The project combines the safe insertion of radioactive isotopes into rhino horns and available nuclear security infrastructure to deter and detect illegal poaching.

    With over 10,000 rhinos lost to poaching in the past decade, South Africa – home to the world’s largest population of rhinos – remains a target for criminals driven by the illegal trade of rhino horn. In the first quarter of 2025 alone, the South African Ministry of Forestry, Fisheries and the Environment reported 103 rhinos poached. In response, this project run by the University of the Witwatersrand is using radiation to support conservation and enforcement efforts.

    After two years of initial tests, the Rhisotope Project was created in 2021 with the idea to tag rhino horns with radioactive material. This makes the horns detectable by radiation portal monitors (RPMs) already deployed at borders, ports and airports worldwide. These RPMs, commonly used to detect nuclear and other radioactive material, can now be harnessed against wildlife crime.

    The IAEA’s support to the Rhisotope Project leverages its central role in strengthening the global nuclear security framework. With millions of vehicles and people crossing borders every day, the use of an estimated 10,000 RPMs worldwide has become a critical tool for detecting unauthorized transboundary movements of nuclear and other radioactive material.

    “The Rhisotope Project shows how nuclear science and nuclear security infrastructure can be used in new ways to address global challenges,” said IAEA Director General Rafael Mariano Grossi. “The IAEA is supporting countries to maximize the benefits of nuclear. By using already installed nuclear security infrastructure in novel ways, we can help protect one of the world’s most iconic and endangered species.”

    At an event today in the Waterberg, Limpopo, about 250 kilometres north of Johannesburg, the University of Witwatersrand announced the results of the rigorous safety assessments conducted during the pilot phase of the project. In June last year, radioisotopes were inserted into 20 rhinos. Health monitoring and cytological examinations of 15 treated animals and a comparison of five animals not treated were conducted by Ghent University in Belgium. The test results proved that the method is non-invasive and does not pose a risk to the rhinos’ health.

    “This has been an international collaboration of likeminded individuals who are trying to make a real difference to this poaching crisis,” said James Larkin, Director, Radiation and Health Physics Unit at the University of the Witwatersrand. “We started with the question – what if radiation could protect rather than harm, by turning rhino horns into traceable markers that stop poachers before they trade? After two years of digital modelling, safety testing and detection simulations, we’re ready to roll out a solution that could truly reduce rhino poaching.”

    The success of project also opens the door for future applications to other endangered species.

    “The methodology could be adapted to protect other endangered species like elephants or pangolins,” said Larkin.

    The IAEA is providing both technical and financial support to the project under its Coordinated Research Project titled Facilitation of Safe and Secure Trade Using Nuclear Detection Technology – Detection of RN and Other Contraband. As part of the project, the Agency also supports countries in their efforts to optimize the detection of radiation by the use of its Minimum Detectable Quantity and Alarm Threshold Estimation Tool, thereby allowing detection of the tagged with radiation rhino horns.

    “The Rhisotope Project brings the entire global nuclear security network into play,” said Elena Buglova, Director of the IAEA Division of Nuclear Security. “The nuclear security infrastructure that exists in many countries around the world to detect smuggling of nuclear and other radioactive material can be used to pick up the trafficking of rhino horn, and any other contraband that might be carried alongside it. Committing to nuclear security pays off in multiple ways.”

    B-roll and photos will be made available here.

    MIL OSI NGO –

  • MIL-OSI Submissions: The quiet war: What’s fueling Israel’s surge of settler violence – and the lack of state response

    Source: The Conversation – USA (3) – By Arie Perliger, Director of Security Studies and Professor of Criminology and Justice Studies, UMass Lowell

    An Israeli soldier prays in the Evyatar outpost in the Israeli-occupied West Bank on July 7, 2024. AP Photo/Ohad Zwigenberg

    Since Oct. 7, 2023, as Israel’s war against Hamas drags on in the Gaza Strip, a quieter but escalating war has unfolded in the West Bank between Israelis and Palestinians.

    While precise figures are elusive, United Nations estimates indicate that Jewish settlers have carried out around 2,000 attacks against Palestinians since the war in Gaza began. That number represents a dramatic surge compared with any previous period during the nearly six decades Israel has controlled the West Bank.

    Attacks include harassment of Palestinian villagers trying to access their crops or work outside their villages, as well as more extreme and organized violence, such as raiding villages to vandalize property. While many of the attacks are unprovoked, some are what settlers call “price tag” actions: retaliation for Palestinian violence against Israelis, such as car-rammings, rock-throwing and stabbings.

    Settlers’ attacks displaced more than 1,500 Palestinians in the first year of the war in Gaza, and gun violence is increasingly common. Since October 2023, more than 1,000 Palestinians in the West Bank have been killed. While most of these fatalities resulted from military operations, some were killed by settlers.

    Mourners attend the funeral of three Palestinians who were killed when Jewish settlers stormed the West Bank village of Kafr Malik, on June 26, 2025.
    AP Photo/Leo Correa

    As a scholar who has studied Jewish religious extremism for over two decades, I contend this campaign is not merely a result of rising tension between the settlers and their Palestinian neighbors amid the Gaza conflict. Rather, it is fueled by a confluence of ideological fervor, opportunism and far-right Israelis’ political vision for the region.

    Religious redemption

    Israel has occupied the West Bank since 1967’s Six-Day War against Egypt, Jordan and Syria, transforming this small region of around 2,000 square miles (5,200 square kilometers) to an amalgam of Jewish and Palestinian enclaves. Most countries other than Israel consider Jewish settlements illegal, but they have rapidly expanded in recent decades, becoming a major challenge for any settlement of the Israeli-Palestinian conflict.

    The ideological roots of violence lie within religious Zionism: a worldview embraced by about 20% of Israel’s Jewish population, including most West Bank settlers.

    The great majority of the leaders of the early Zionist movement held strong secular views. They pushed for the creation of a Jewish state over the objections of Orthodox figures, who argued that it should be a divine creation rather than a human-made polity.

    Religious Zionists, on the other hand, view the creation of modern-day Israel and its military victories as steps in a divine redemption, which will culminate in a Jewish kingdom led by a heaven-sent Messiah. Adherents believe contemporary events, particularly those asserting Jewish control over the entire historical land of Israel, can accelerate this process.

    In recent decades, influential religious Zionist leaders have argued that final redemption requires Israel’s total military triumph and the annihilation of its enemies, particularly the Palestinian national movement. From this perspective, the devastation of Oct. 7 and the subsequent war are a divine test – one the nation can only pass by achieving a complete victory.

    This belief system fuels most religious Zionists’ opposition to ending the war, as well as their advocacy for scorched-earth policies in Gaza. Some hope to rebuild the Jewish settlements in the strip that Israel evacuated in 2005.

    Some religious Zionists hope to reestablish Jewish settlements in Gaza.‘
    Sally Hayden/SOPA Images/LightRocket via Getty Images

    The violence in the West Bank reflects an extension of the same beliefs. Extreme groups within the settler population aim to solidify Jewish control by making Palestinian communities’ lives in the region unsustainable.

    Opportunistic violence

    Hamas’ Oct. 7 massacre, which killed over 1,200 Israelis, traumatized the nation. It also hardened many Jewish Israelis’ conviction that a Palestinian state would be an existential threat, and thus Palestinians cannot be partners for peace.

    This shift in sentiment created a permissive environment for violence. While settler attacks previously drew criticism from across the political spectrum, extremist violence faces less public condemnation today – as does the government’s lack of effort to curb it.

    This increase in violence is also enabled by a climate of impunity. Israeli security forces have been stretched thin by operations in Gaza, Syria, Iran and beyond. In the West Bank, the military increasingly relies on settler militias known as “Emergency Squads,” which are armed by the Israeli military for self-defense, and army units composed primarily of religious Zionist settlers, such as the Netzah Yehuda Battalion. Such groups have little incentive to stop attacks on Palestinians, and at times, they have participated.

    This dynamic has dangerously blurred the line between the state military and militant settlers. The Israeli police, meanwhile, under the command of far-right National Security Minister Itamar Ben-Gvir, appear focused on protecting settlers. Police leadership has been accused of ignoring intelligence about planned attacks and failing to arrest violent settlers or enforce restraining orders. Yesh Din, an Israeli human rights group, asserts that just 3% of attacks have resulted in a conviction.

    In June 2025, military attempts to curb settler militancy triggered a violent backlash, as extremist settlers attacked military commanders and tried to set fire to military facilities. Settlers view efforts to restrict their actions as illegitimate and a betrayal of Jewish interests in the West Bank.

    Political vision

    Violence by extremist settlers is not random; it is one arm of a coordinated pincer strategy to entrench Jewish control over the West Bank.

    Emergency volunteers put out a fire during an attack by Israeli right-wing settlers on the West Bank village of Turmusaya on June 26, 2025.
    Ilia Yefimovich/picture alliance via Getty Images

    While militant settlers create a climate of fear, Israeli authorities have undermined legal efforts to stop the violence – ending administrative detention for settler suspects, for example. Meanwhile, the government has intensified policies that undermine Palestinians’ economic development, freedom of movement and land use. In May, finance minister and far-right leader Bezalel Smotrich approved 22 new settlements, calling it a “historic decision” that signaled a return to “construction, Zionism, and vision.”

    Together, violence from below and policy from above advance a clear strategic goal: the coerced depopulation of Palestinians from rural areas to solidify Israeli sovereignty over the entire West Bank.

    Levers for change

    The militant elements of the settler movement constitute a fractional segment of Israeli society. When it comes to improving the situation in the West Bank, broad punitive measures against the entire country, such as economic boycotting and divestment, or blocking access to scientific, economic and cultural programs and organizations, have historically proved ineffective.

    Instead, such policies seem to entrench many Israelis’ perception of international bias and double standards: the sense that critics are antisemitic, or that few outsiders understand the country’s challenges – particularly in light of threats from entitles like Iran, Hamas and Hezbollah, which openly seek Israel’s elimination.

    More targeted policies aim specifically at the Israeli far right, including sanctions – economic, political or cultural – directed at settler communities and their infrastructure. Canada, Australia, New Zealand, Norway and the U.K. have imposed travel bans on Ben-Gvir and Smotrich, and frozen their assets in those countries. Similarly, I believe decisions to ban goods produced in the West Bank settlements, as Ireland has recently debated, would be more effective than banning all Israeli products.

    This targeted approach, I would argue, would allow the international community to cultivate stronger alliances with the many Israelis concerned about the settlements and Palestinians’ rights in the West Bank.

    Arie Perliger does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. The quiet war: What’s fueling Israel’s surge of settler violence – and the lack of state response – https://theconversation.com/the-quiet-war-whats-fueling-israels-surge-of-settler-violence-and-the-lack-of-state-response-261990

    MIL OSI –

  • MIL-OSI Submissions: Roman Empire and the fall of Nero offer possible lessons for Trump about the cost of self-isolation

    Source: The Conversation – USA (3) – By Kirk Freudenburg, Brooks and Suzanne Ragen Professor of Classics, Yale University

    A marble statue of Nero on loan from the Louvre in Paris is seen at the Landesmuseum in Germany in 2016. Harald Tittel/Picture Alliance via Getty Images

    President Donald Trump’s first term saw a record-high rate of turnover among his Cabinet members and chief advisers. Trump’s second term has, to date, seen far fewer Cabinet departures.

    But some political commentators have observed that the president this time around has primarily appointed loyal advisers who will not challenge him.

    As Thomas Friedman pointed out in The New York Times on June 3, 2025, “In Trump I, the president surrounded himself with some people of weight who could act as buffers. In Trump II, he has surrounded himself only with sycophants who act like amplifiers.”

    As a scholar of Greco-Roman antiquity, I have spent many years studying the demise of truth-telling in periods of political upheaval. Spanning the period from 27 B.C.E. to 476 C.E., the Roman Empire still offers insights into what happens to political leaders when they interpret possibly helpful advice as dissent.

    Particularly telling is the case of Nero, Rome’s emperor from 54 to 68 C.E., who responded to a disastrous fire in 64 with extreme cruelty and self-worship that did nothing to help desperate citizens.

    Suppressing honest advice under Nero

    Rome’s first emperor, Augustus, established a handpicked circle of advisers – called the consilium principis in Latin, meaning emperor’s council – to give a republican look to his autocratic regime. Augustus became the emperor of Rome in 27 B.C.E. and ruled over the empire, which stretched from Europe and North Africa to the Middle East at its peak, until his death in 14 C.E.

    Augustus wanted to hear what others thought about the empire’s needs and his policies. At least some of Augustus’ advisers were bold enough to assert themselves and risk incurring his displeasure. Some, such as Cornelius Gallus, paid for their boldness with their lives, Gallus apparently took his own life, so that might not be the best example – unless it was a forced suicide while others, such as Cilnius Maecenas, managed to push their political agendas in softer ways that allowed them to maintain their influence.

    But the Roman emperors who came after Augustus were either less skilled at maintaining a republican facade, or less interested in doing so.

    Nero was the last of the emperors from the noble Julio-Claudian dynasty in ancient Rome at its peak of power. Historians who describe Nero’s rise and fall from power describe the first five years of his reign, or the quinquennium neronis in Latin, as a period of relative calm and prosperity for the empire.

    Because Nero was just 16 years old when he acceded to power, he was assigned advisers to guide his policies. Their opinions carried significant weight.

    But five years into his reign, chafing at their continued oversight, Nero began to purge these advisers from his life, via execution, forced suicide and exile.

    Nero instead collected a small cadre of self-interested enablers who derived power for themselves by encouraging their leader’s delusions, such as his desire to project himself as the incarnation of the sun god, Apollo.

    The single most unspeakably corrupt and nefarious of these preferred advisers was Ofonius Tigellinus. Tigellinus had caught Nero’s eye early in 62 by urging the senate to convict a Roman magistrate of treason for having composed poems that he deemed insulting to the emperor. Later that year, Tigellinus was appointed the head of the emperor’s personal army.

    As praetorian prefect, Tigellinus was charged not only with protecting Nero from physical harm, but also with crafting and guarding the leader’s public image. Tigellinus urged Nero to stage an ongoing series of public spectacles – like theatrical performances and athletic competitions – that featured him as a divine ruler and a god on Earth.

    The Roman Emperor Nero surveys the city of Rome after the disastrous fire in 64 C.E.
    Hulton Archive/Getty Images

    Up in flames

    It was likely at Tigellinus’ urging that, in the aftermath of the great fire of 64 that raged for six days in Rome, Nero staged an exorbitant garden party where Christians were soaked in flammable oils and lit as human torches to illuminate a decadent late-night feast.

    But, try as he might, Nero couldn’t outrun the fire and its aftermath by indulging in clever cruelties. Huge swathes of the city had been razed by the fire. Thousands of citizens lacked clothing. They were hungry, displaced and homeless.

    For answers, the fire’s countless victims looked to Nero, their earthly Apollo, for help. But they did not encounter a sympathetic leader sweeping in to address their needs. Instead, they found a man desperate to place blame on others – in this case, foreigners from the east.

    In order to squelch rumors that Nero had lit the fire, Tigellinus’ army unit rounded up Christians, falsely blamed them for starting the fire and executed them.

    But this move just showcased Nero’s failure to focus on the dire needs of the poor, the very people who worshipped him. Instead, he sought to rise above the ashes by doubling down on his divine pretensions.

    Once the rubble left by the fire was cleared away, Nero built a magnificent new home for himself. This palace, called the domus aurea in Latin, meaning house of gold, covered more than 120 acres in the heart of Rome. It featured spectacular water fountains, elaborate works of art and, standing tall in the entryway, a 120-foot bronze statue of Nero as the sun god, Apollo.

    No truth-teller was there to tell Nero that maybe he shouldn’t rub his people’s noses in their suffering. (can we say ‘Maybe he shouldn’t exploit his people’s suffering in this way’?) this suggestion needs either accepted or rejected

    Nero’s delusional response to the fire did not put an end to his career, but it did much to hasten its end.

    Less than four years later, with armies bearing down on the city, Nero committed suicide. Rome tumbled into civil war.

    President Donald Trump appears at an Independence Day event at the Mount Rushmore national monument near Keystone, S.D., in 2020.
    Saul Loeb/AFP via Getty Images

    Self-worship in the Trump era

    Trump has long expressed a desire to have his face carved on Mount Rushmore, a national memorial in South Dakota that features the likenesses of legendary American presidents George Washington, Abraham Lincoln, Thomas Jefferson and Theodore Roosevelt.

    This dream became a bit closer to reality when Tennessee Representative Andy Ogles in July 2025 urged the Department of the Interior to explore adding Trump’s image to Mount Rushmore – even though such an addition might not be possible because of geological issues.
    Trump’s critics have long noted the president’s propensity to focus on himself and his own greatness and power, rather than the needs of citizens.

    As far away as the Roman Empire might seem, Nero’s rise and fall offers a lesson in what can happen when honest criticism of a political leader is sidelined in favor of idolatry.

    Instead of honest solutions to real problems, what Romans got was a colossal statue that portrayed their leader as a god on Earth.

    Kirk Freudenburg does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Roman Empire and the fall of Nero offer possible lessons for Trump about the cost of self-isolation – https://theconversation.com/roman-empire-and-the-fall-of-nero-offer-possible-lessons-for-trump-about-the-cost-of-self-isolation-257871

    MIL OSI –

  • MIL-OSI Submissions: Are you really allergic to penicillin? A pharmacist explains why there’s a good chance you’re not − and how you can find out for sure

    Source: The Conversation – USA (3) – By Elizabeth W. Covington, Associate Clinical Professor of Pharmacy, Auburn University

    Penicillin is a substance produced by penicillium mold. About 80% of people with a penicillin allergy will lose the allergy after about 10 years. Clouds Hill Imaging Ltd./Corbis Documentary via Getty Images

    Imagine this: You’re at your doctor’s office with a sore throat. The nurse asks, “Any allergies?” And without hesitation you reply, “Penicillin.” It’s something you’ve said for years – maybe since childhood, maybe because a parent told you so. The nurse nods, makes a note and moves on.

    But here’s the kicker: There’s a good chance you’re not actually allergic to penicillin. About 10% to 20% of Americans report that they have a penicillin allergy, yet fewer than 1% actually do.

    I’m a clinical associate professor of pharmacy specializing in infectious disease. I study antibiotics and drug allergies, including ways to determine whether people have penicillin allergies.

    I know from my research that incorrectly being labeled as allergic to penicillin can prevent you from getting the most appropriate, safest treatment for an infection. It can also put you at an increased risk of antimicrobial resistance, which is when an antibiotic no longer works against bacteria.

    The good news? It’s gotten a lot easier in recent years to pin down the truth of the matter. More and more clinicians now recognize that many penicillin allergy labels are incorrect – and there are safe, simple ways to find out your actual allergy status.

    A steadfast lifesaver

    Penicillin, the first antibiotic drug, was discovered in 1928 when a physician named Alexander Fleming extracted it from a type of mold called penicillium. It became widely used to treat infections in the 1940s. Penicillin and closely related antibiotics such as amoxicillin and amoxicillin/clavulanate, which goes by the brand name Augmentin, are frequently prescribed to treat common infections such as ear infections, strep throat, urinary tract infections, pneumonia and dental infections.

    Penicillin antibiotics are a class of narrow-spectrum antibiotics, which means they target specific types of bacteria. People who report having a penicillin allergy are more likely to receive broad-spectrum antibiotics. Broad-spectrum antibiotics kill many types of bacteria, including helpful ones, making it easier for resistant bacteria to survive and spread. This overuse speeds up the development of antibiotic resistance. Broad-spectrum antibiotics can also be less effective and are often costlier.

    Figuring out whether you’re really allergic to penicillin is easier than it used to be.

    Why the mismatch?

    People often get labeled as allergic to antibiotics as children when they have a reaction such as a rash after taking one. But skin rashes frequently occur alongside infections in childhood, with many viruses and infections actually causing rashes. If a child is taking an antibiotic at the time, they may be labeled as allergic even though the rash may have been caused by the illness itself.

    Some side effects such as nausea, diarrhea or headaches can happen with antibiotics, but they don’t always mean you are allergic. These common reactions usually go away on their own or can be managed. A doctor or pharmacist can talk to you about ways to reduce these side effects.

    People also often assume penicillin allergies run in families, but having a relative with an allergy doesn’t mean you’re allergic – it’s not hereditary.

    Finally, about 80% of patients with a true penicillin allergy will lose the allergy after about 10 years. That means even if you used to be allergic to this antibiotic, you might not be anymore, depending on the timing of your reaction.

    Why does it matter if I have a penicillin allergy?

    Believing you’re allergic to penicillin when you’re not can negatively affect your health. For one thing, you are more likely to receive stronger, broad-spectrum antibiotics that aren’t always the best fit and can have more side effects. You may also be more likely to get an infection after surgery and to spend longer in the hospital when hospitalized for an infection. What’s more, your medical bills could end up higher due to using more expensive drugs.

    Penicillin and its close cousins are often the best tools doctors have to treat many infections. If you’re not truly allergic, figuring that out can open the door to safer, more effective and more affordable treatment options.

    A penicillin skin test can safely determine whether you have a penicillin allergy, but a health care professional may also be able to tell by asking you some specific questions.
    BSIP/Collection Mix: Subjects via Getty Images

    How can I tell if I am really allergic to penicillin?

    Start by talking to a health care professional such as a doctor or pharmacist. Allergy symptoms can range from a mild, self-limiting rash to severe facial swelling and trouble breathing. A health care professional may ask you several questions about your allergies, such as what happened, how soon after starting the antibiotic did the reaction occur, whether treatment was needed, and whether you’ve taken similar medications since then.

    These questions can help distinguish between a true allergy and a nonallergic reaction. In many cases, this interview is enough to determine you aren’t allergic. But sometimes, further testing may be recommended.

    One way to find out whether you’re really allergic to penicillin is through penicillin skin testing, which includes tiny skin pricks and small injections under the skin. These tests use components related to penicillin to safely check for a true allergy. If skin testing doesn’t cause a reaction, the next step is usually to take a small dose of amoxicillin while being monitored at your doctor’s office, just to be sure it’s safe.

    A study published in 2023 showed that in many cases, skipping the skin test and going straight to the small test dose can also be a safe way to check for a true allergy. In this method, patients take a low dose of amoxicillin and are observed for about 30 minutes to see whether any reaction occurs.

    With the right questions, testing and expertise, many people can safely reclaim penicillin as an option for treating common infections.

    Elizabeth W. Covington does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Are you really allergic to penicillin? A pharmacist explains why there’s a good chance you’re not − and how you can find out for sure – https://theconversation.com/are-you-really-allergic-to-penicillin-a-pharmacist-explains-why-theres-a-good-chance-youre-not-and-how-you-can-find-out-for-sure-253839

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  • MIL-OSI Submissions: How FDA panelists casting doubt on antidepressant use during pregnancy could lead to devastating outcomes for mothers

    Source: The Conversation – USA (3) – By Nicole Amoyal Pensak, Researcher of Caregiver Stress Management and Clinical Psychologist, University of Colorado Anschutz Medical Campus

    Research shows that the risks of untreated depression in pregnancy is much larger than the risks posed by SSRIs. RyanKing999/iStock via Getty Images Plus

    At a meeting held by the Food and Drug Administration on July 21, 2025, a panel convened by the agency cast doubt on the safety of antidepressant medications called selective serotonin reuptake inhibitors, or SSRIs, in pregnancy.

    Panel members discussed adding a so-called black box warning to the drugs – which the agency uses to indicate severe or life-threatening side effects – about the risk they pose to developing fetuses. Some of the panelists who attended had a history of expressing deep skepticism on antidepressants.

    SSRIs include drugs like Prozac and Zoloft and are the most commonly used medicines for treating clinical depression. They are considered the first-line medications for treating depression in pregnancy, with approximately 5% to 6% of North American women taking an SSRI during pregnancy.

    We are a psychologist certified in perinatal mental health and a reproductive psychiatrist and neuroscientist who studies female hormones and drug treatments for depression. We are concerned that many claims made at the meeting about the dangers of those drugs contradict decades of research evidence showing that antidepressant use during pregnancy is low risk when compared with the dangers of mental illness.

    As clinicians, we have front-row seats to the maternal mental health crisis in the U.S. Mental illness, including suicide and overdose, is the leading cause of maternal deaths. Like all drugs, SSRIs carry both risks and benefits. But research shows that the benefits to pregnant patients outweigh the risks of the SSRIs, as well as the risks of untreated depression.

    The panel did not address the safety of SSRIs following delivery, but numerous studies show that taking SSRI antidepressants while breastfeeding is low risk, usually producing low to undetectable drug levels in infants.

    The biology of maternal brain health

    Pregnancy and the months following childbirth are characterized by so many emotional, psychological and physical changes that the transition to motherhood has a specific name: matrescence. During matrescence, the brain changes rapidly as it prepares to efficiently take care of a baby.

    The capacity for change within the brain is known as “plasticity.” Enhanced plasticity during pregnancy and the postpartum period is what allows the maternal brain to become better at attuning to and carrying out the tasks of motherhood. For example, research indicates that during this period, the brain is primed to respond to baby-related stimuli and improve a mother’s ability to regulate her emotions. These brain shifts also act as a mental buffer against aging and stress in the long term.

    On the flip side, these rapid brain changes, fueled by hormonal shifts, can make people especially vulnerable to the risk of mental illness during and after pregnancy. For women who have a prior history of depression, the risk is even greater.

    Clinical depression interferes with brain plasticity, such that the brain becomes “stuck” in patterns of negative thoughts, emotions and behaviors.

    This leads to impairment in brain functions that are essential to motherhood. New mothers with depression have decreased brain activity in regions responsible for motivation, regulation of emotion and problem-solving. They are often withdrawn or overprotective of their infants, and they struggle with the relentless effort needed for tasks that arise with child-rearing like soothing, feeding, stimulating, planning and anticipating the child’s needs.

    Research shows that SSRIs work by promoting brain plasticity. This in turn allows individuals to perceive the world more positively, increases the experience of gratification as a mother and facilitates cognitive flexibility for problem-solving.

    SSRI antidepressants are thought to work by restoring healthy communication between brain cells.
    wildpixel/iStock via Getty Images Plus

    Assessing the risks of SSRIs in pregnancy

    Prescription drugs like SSRIs are just one aspect of treating pregnant women struggling with mental illness. Evidence-based psychotherapy, such as cognitive behavioral therapy, can also induce adaptive brain changes. But women with severe symptoms often require medication before they can reap the benefits of psychotherapy, and finding properly trained, accessible and affordable psychotherapists can be challenging. So sometimes, SSRIs may be the most appropriate treatment option available.

    Multiple studies have examined the effects of SSRIs on the developing fetus. Some data does show a link between these drugs and preterm birth, as well as low birth weight. However, depression during pregnancy is also linked to these effects, making it difficult to disentangle what’s due to the drug and what’s due to the illness.

    SSRIs are linked to a condition called neonatal adaption syndrome, in which infants are born jittery, irritable and with abnormal muscle tone. About one-third of infants born to mothers taking SSRIs experience it. However, research shows that it usually resolves within two weeks and does not have long-term health implications.

    The FDA-convened panel heavily focused on potential risks of SSRI usage, with several individuals incorrectly asserting that these drugs cause autism in exposed youth, as well as birth defects. At least one panelist discussed clinical depression as a “normal” part of the “emotional” experience during pregnancy and following birth. This perpetuates a long history of of women being dismissed, ignored and not believed in medical care. It also discounts the rigorous assessment and criteria that medical professionals use to diagnose reproductive mental health disorders.

    A summary of the pivotal studies on SSRIs in pregnancy by the Massachusetts General Hospital Center for Women’s Health discusses how research has shown SSRIs to not be associated with miscarriage, birth defects or developmental conditions in children, including autism spectrum disorder.

    Antidepressants such as SSRIs are thought to work by promoting brain plasticity.
    Cappi Thompson/Moment via Getty Images

    The risks of untreated mental illness

    Untreated clinical depression in pregnancy has several known risks. As noted above, babies born to mothers with clinical depression have a higher risk of preterm birth and low birth weight.

    They are also more likely to require neonatal intensive care and are at greater risk of behavioral problems and impaired cognition in childhood.

    Women who are clinically depressed have an increased risk of developing preeclampsia – a condition involving high blood pressure that, if not identified and treated quickly, can be fatal to both mother and fetus. Just as concerning is the heightened risk of suicide in depression. Suicide accounts for about 8% of deaths in pregnancy and shortly after birth.

    Compared with these very serious risks, the risks of using SSRIs in pregnancy turn out to be minimal. While women used to be encouraged to stop taking SSRIs during pregnancy to avoid some of these risks, this is no longer recommended, as it exposes women to a high chance of depression relapse. The American College of Obstetricians and Gynecologists recommends that all perinatal mental health treatments, including SSRIs, continue to be available.

    Many women are already reluctant to take antidepressants during pregnancy, and given the choice, they tend to avoid it. From a psychological standpoint, exposing their fetus to the side effects of antidepressant medications is one of many common reasons for women in the U.S. to feel maternal guilt or shame. However, the available data suggests such guilt is not warranted.

    Taken together, the best thing one can do for pregnant women and their babies is not to avoid prescribing these drugs when needed, but to take every measure possible to promote health: optimal prenatal care, and the combination of medications with psychotherapy, as well as other evidence-based treatments such as bright light therapy, exercise and adequate nutrition.

    The panel failed to address the latest neuroscience behind depression, how antidepressants work in the brain and the biological rationale for why doctors use them in the first place. Patients deserve education on what’s happening in their brain, and how a drug like an SSRI might work to help.

    Depression during pregnancy and in the months following birth is a serious barrier to brain health for mothers. SSRIs are one way of promoting healthy brain changes so that mothers can thrive both short- and long-term.

    Should the FDA, as a result of this recent panel, decide to place a black-box warning on antidepressants in pregnancy, researchers like us already know from history what will happen. In 2004, the FDA placed a warning on antidepressants describing potential suicidal ideation and behavior in young people.

    In the following years, antidepressant-prescribing decreased, while the consequences of mental illness increased. And it’s easy to imagine a similar pattern in pregnant women.

    I receive royalties for the sales of my book RATTLED, How to Calm New Mom Anxiety with the Power of the Postpartum Brain.

    Dr Novick has a career development award from the National Institute of Child Health and Development (K23HD110435) to study the neurobiology of hormonal contraception. This funding was not used to support the preparation or publication of this article. The views expressed here are those of the author and do not represent those of the National Institutes of Health or the University of Colorado School of Medicine.

    – ref. How FDA panelists casting doubt on antidepressant use during pregnancy could lead to devastating outcomes for mothers – https://theconversation.com/how-fda-panelists-casting-doubt-on-antidepressant-use-during-pregnancy-could-lead-to-devastating-outcomes-for-mothers-261825

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  • MIL-OSI Submissions: What is personalized pricing, and how do I avoid it?

    Source: The Conversation – USA (2) – By Jay L. Zagorsky, Associate Professor Questrom School of Business, Boston University

    Recently, Delta Air Lines announced it would expand its use of artificial intelligence to provide individualized prices to customers. This move sparked concern among flyers and politicians. But Delta isn’t the only business interested in using AI this way. Personalized pricing has already spread across a range of industries, from finance to online gaming.

    Customized pricing – where each customer receives a different price for the same product – is a holy grail for businesses because it boosts profits. With customized pricing, free-spending people pay more while the price-sensitive pay less. Just as clothes can be tailored to each person, custom pricing fits each person’s ability and desire to pay.

    I am a professor who teaches business school students how to set prices. My latest book, “The Power of Cash: Why Using Paper Money is Good for You and Society,” highlights problems with custom pricing. Specifically, I’m worried that AI pricing models lack transparency and could unfairly take advantage of financially unsophisticated people.

    The history of custom pricing

    For much of history, customized pricing was the normal way things happened. In the past, business owners sized up each customer and then bargained face-to-face. The price paid depended on the buyer’s and seller’s bargaining skills – and desperation.

    An old joke illustrates this process. Once, a very rich man was riding in his carriage at breakfast time. Hungry, he told his driver to stop at the next restaurant. He went inside, ordered some eggs and asked for the bill. When the owner handed him the check, the rich man was shocked at the price. “Are eggs rare in this neighborhood?” he asked. “No,” the owner said. “Eggs are plentiful, but very rich men are quite rare.”

    Custom pricing through bargaining still exists in some industries. For example, car dealerships often negotiate a different price for each vehicle they sell. Economists refer to this as “first-degree” or “perfect” price discrimination, which is “perfect” from the seller’s perspective because it allows them to charge each customer the maximum amount they’re willing to pay.

    Wanamaker’s department store in Philadelphia was a pricing pioneer.
    Hulton Archive/Getty Images

    Currently, most American shoppers don’t bargain but instead see set prices. Many scholars trace the rise of set prices to John Wanamaker’s Philadelphia department store, which opened in 1876. In his store, each item had a nonnegotiable price tag. These set prices made it simpler for customers to shop and became very popular.

    Why uniform pricing caught on

    Set prices have several advantages for businesses. For one thing, they allow stores to hire low-paid retail workers instead of employees who are experts in negotiation.

    Historically, they also made it easier for stores to decide how much to charge. Before the advent of AI pricing, many companies determined prices using a “cost-plus” rule. Cost-plus means a business adds a fixed percentage or markup to an item’s cost. The markup is the percentage added to a product’s cost that covers a company’s profits and overhead.

    The big-box retailer Costco still uses this rule. It determines prices by adding a roughly 15% maximum markup to each item on the warehouse floor. If something costs Costco $100, they sell it for about $115.

    The problem with cost-plus is that it treats all items the same. For example, Costco sells wine in many stores. People buying expensive Champagne typically are willing to pay a much higher markup than customers purchasing inexpensive boxed wine. Using AI gets around this problem by letting a computer determine the optimal markup item by item.

    What personalized pricing means for shoppers

    AI needs a lot of data to operate effectively. The shift from cash to electronic payments has enabled businesses to collect what’s been called a “gold mine” of information. For example, Mastercard says its data lets companies “determine optimal pricing strategies.”

    So much information is collected when you pay electronically that in 2024 the Federal Trade Commission issued civil subpoenas to Mastercard, JPMorgan Chase and other financial companies demanding to know “how artificial intelligence and other technological tools may allow companies to vary prices using data they collect about individual consumers’ finances and shopping habits.” Experiments at the FTC show that AI programs can even collude among themselves to raise prices without human intervention.

    To prevent customized pricing, some states have laws requiring retailers to display a single price for each product for sale. Even with these laws, it’s simple to do custom pricing by using targeted digital coupons, which vary each shopper’s discount.

    How you can outsmart AI pricing

    There are ways to get around customized pricing. All depend on denying AI programs data on past purchases and knowledge of who you are. First, when shopping in brick-and-mortar stores, use paper money. Yes, good old-fashioned cash is private and leaves no data trail that follows you online.

    Second, once online, clear your cache. Your search history and cookies provide algorithms with extensive amounts of information. Many articles say the protective power of clearing your cache is an urban myth. However, this information was based on how airlines used to price tickets. Recent analysis by the FTC shows the newest AI algorithms are changing prices based on this cached information.

    Third, many computer pricing algorithms look at your location, since location is a good proxy for income. I was once in Botswana and needed to buy a plane ticket. The price on my computer was about $200. Unfortunately, before booking I was called away to dinner. After dinner my computer showed the cost was $1,000 − five times higher. It turned out after dinner I used my university’s VPN, which told the airline I was located in a rich American neighborhood. Before dinner I was located in a poor African town. Shutting off the VPN reduced the price.

    Last, often to get a better price in face-to-face negotiations, you need to walk away. To do this online, put something in your basket and then wait before hitting purchase. I recently bought eyeglasses online. As a cash payer, I didn’t have my credit card handy. It took five minutes to find it, and the delay caused the site to offer a large discount to complete the purchase.

    The computer revolution has created the ability to create custom products cheaply. The cashless society combined with AI is setting us up for customized prices. In a custom-pricing situation, seeing a high price doesn’t mean something is higher quality. Instead, a high price simply means a business views the customer as willing to part with more money.

    Using cash more often can help defeat custom pricing. In my view, however, rapid advances in AI mean we need to start talking now about how prices are determined, before customized pricing takes over completely.

    Jay L. Zagorsky does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. What is personalized pricing, and how do I avoid it? – https://theconversation.com/what-is-personalized-pricing-and-how-do-i-avoid-it-262195

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  • MIL-OSI Submissions: Strengthening collective labor rights can help reduce economic inequality

    Source: The Conversation – USA (2) – By Skip Mark, Assistant professor of political science, University of Rhode Island

    Only about 1 in 10 U.S. workers belong to unions today. champc/iStock via Getty Images Plus

    Despite the strength of the U.S. economy, the gap between rich and poor Americans is increasing.

    The wealthiest 1% of Americans have more than five times as much wealth as the bottom 50%, according to the U.S. Federal Reserve. That’s up from four times as much in the year 2000. In 2024 alone, the wealthiest 19 families got a total of US$1 trillion richer – the largest one-year increase on record.

    And yet 59% of Americans don’t have enough money saved up to cover an unexpected $1,000 expense.

    We are political scientists who study human rights and political economy.

    In a 2023 study, our team looked at 145 countries, including the U.S., to understand the link between labor rights and inequality. We found evidence that strengthening collective labor rights may reduce economic inequality.

    Empowering workers

    Collective labor rights include the rights to form and join a union, bargain collectively for higher pay and better working conditions, go on strike, and get justice if employers punish workers who exercise these rights.

    In the U.S., where less than 10% of workers belong to unions, union members typically earn higher wages than their nonunion counterparts.

    Through negotiations on behalf of their members, unions can pressure employers to provide fair wages and benefits. If negotiations break down, the union can call for a strike – sometimes winning better benefits and higher wages as a result.

    Some U.S. unions don’t have the right to strike, including air traffic controllers, teachers and those working on national security issues. But most unions have some ability to implement work stoppages and impose costs on employers to negotiate for raises and better benefits and conditions.

    Reducing inequality

    For our study, we analyzed the human rights in the CIRIGHTS dataset, which uses human rights reports from the U.S. State Department, Amnesty International and other sources to measure government respect for 24 human rights, including the rights to unionize and bargain collectively. The dataset is produced by the University of Rhode Island, Binghamton University and the University of Connecticut. One of us, Skip Mark, serves as a co-director of the project.

    Using a scoring guide, a team of researchers reads human rights reports and gives each country a score of zero if they have widespread violations, one point if they have some violations, or two if they have no evidence of violations. The team has assigned scores for all 24 rights from 1994 through 2022.

    Using this data, we created a measure of collective labor rights by adding scores for the right to workplace association and the right to collective bargaining. The resulting collective labor rights score ranges from zero to four.

    Countries where workers’ rights are routinely violated, such as Afghanistan, China and Saudi Arabia, scored a zero. The United States, Macedonia and Zambia, three countries with little in common, were among those that tended to get two points, placing them in the middle. Countries with no reported violations of the rights to workplace association and collective bargaining, including Canada, Sweden and France, got four points.

    According to the CIRIGHTS dataset, the strength of respect for collective labor rights around the world declined by 50%, from 2.06 in 1994 to 1.03 in 2022.

    At the same time, according to the World Inequality Dataset, the share of income earned by the 1% with the biggest paychecks increased by 11%.

    We used advanced statistical methods to figure out whether better worker protections actually reduce inequality or are just associated with it.

    Gaps between individuals and ethnic groups

    We also measured what’s been happening to economic inequality, using two common ways to track it.

    One of them is vertical inequality, the gap between what people earn within a country – the rich versus the poor. The more unequal a society becomes, the higher its vertical inequality score gets. We measured it using the disposable income measure from the Gini index, a commonly used indicator of economic inequality that captures how much money individuals have to spend after taxes and government transfers.

    We found that a one-point increase in collective labor rights on our four-point scale reduces vertical inequality by 10 times the average change in inequality. For the U.S., a one-point increase in collective labor rights would be about enough to undo the increase in inequality that occurred between 2008 and 2010 due to the Great Recession and its aftermath. It would also likely help stem the growing wealth gap between Black and white Americans. That’s because income disparities compound over time to create wealth gaps.

    We also assessed the connection between horizontal inequality, which measures income inequality between ethnic or other groups, and collective labor rights.

    Negative horizontal inequality measures the amount of a country’s income held by the poorest ethnic group. Higher scores for this metric indicate that the lowest-earning ethnic group has less income relative to the rest of society. Black Americans have the lowest median income of any racial or ethnic group, according to the U.S. Census Bureau.

    Positive horizontal inequality measures the income earned by the richest ethnic group. When positive horizontal inequality rises, that means the richest ethnic group has more income relative to the rest of society. According to the same Census Bureau report, Asian Americans had the highest median earnings.

    We found that stronger collective labor rights, both in law and in practice around the world, also reduce both types of horizontal inequality. This means they raise the floor by helping to improve the income of the poorest ethnic groups in society. They also close the gap by limiting the incomes of the richest ethnic group, which can reduce the likelihood of conflicts.

    That is, our findings suggest that when workers are free to advocate for higher wages and better benefits for themselves, it also benefits society as a whole.

    Stephen Bagwell is a researcher with the Human Rights Measurement Initiative, a charitable trust registered in New Zealand

    Skip Mark does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Strengthening collective labor rights can help reduce economic inequality – https://theconversation.com/strengthening-collective-labor-rights-can-help-reduce-economic-inequality-254258

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  • MIL-OSI Submissions: Black teachers are key mentors for Philly high school seniors navigating college decisions

    Source: The Conversation – USA (2) – By Joseph Sageman, Postdoctoral Researcher in Sociology, University of Pennsylvania

    In Pennsylvania, nearly 15% of students are Black, but less than 4% of teachers are. JohnnyGreig/E+ Collection via Getty Images

    Zikia, a 12th grader in Philadelphia, was stressing over where she would attend college in the fall. Her charter school’s college decision ceremony was the next day, and she was torn between her two top choices.

    At a crossroads, she reached out to her favorite teacher, the only Black educator on her course schedule. “I texted him at nighttime,” she recalled. “I didn’t feel like I could do that with my other teachers.”

    In my research
    on college and career readiness, I did not initially set out to study the impact of Black teachers, but students like Zikia readily brought up the topic.

    In interviews, students insisted on the importance of having Black educators. They consistently named their Black teachers and counselors as the most influential adults in their planning for life after graduation.

    Black educators, though, are severely underrepresented in the local teaching workforce. At Zikia’s school, over 75% of students are Black compared to only about 15% of teachers.

    The picture is just as striking in Pennsylvania as a whole. Statewide, the share of Black students is four times the share of Black teachers – 14.5% of students are Black, while only 3.7% of teachers are. A majority of public schools in Pennsylvania do not employ a single teacher of color despite serving racially diverse communities.

    These statistics are particularly concerning because strong evidence suggests that minority students benefit greatly from working with same-race teachers.

    Over the past two decades, a wave of studies from economists and education scholars have documented that when Black students are assigned to Black teachers, their math and reading scores improve, their rates of absenteeism and suspensions drop, and over the long run, they are more likely to enroll in honors classes, complete high school and go to college.

    This research is mostly quantitative and does more to establish that Black teachers are effective than explain why they are able to deliver such impressive results.

    To answer this latter question, I went directly to the source.

    I conducted interviews with roughly 100 Philadelphia 12th graders, asking them how they came to trust and depend on Black educators when weighing one of the most consequential decisions of their lives: whether and where to go to college. I spoke with students at five city high schools, including district-run and charter schools, as well as some of the teachers and counselors involved in their college decisions.

    Zikia and the other names used in this story are pseudonyms to protect the confidentiality of research participants.

    Inspiration, empathy and insight

    The presence of Black educators mattered to students for several reasons.

    Some of my respondents felt inspired by seeing Black people in school leadership positions. LaMont, for instance, said that taking classes from Black teachers motivated him: “Just to see success is achievable. A teacher is something in life. And it shows that people that look like me are able to overcome something. Having Black teachers gives you a sense of confidence.”

    LaMont’s seeing his own identity and background reflected in his teachers is what sociologists and political scientists call descriptive representation. His classmates agreed that it was important to have teachers who looked like them. Their connection, they insisted, was more than skin deep. Most of them gravitated to Black teachers because of how those teachers did their jobs and advocated for minority students, a concept called substantive representation.

    For instance, many students felt most comfortable asking for help from Black teachers because they regarded them as more empathetic listeners and felt they were invested in their holistic well-being, not just in their grades or academic performance.

    When I asked Ramir to tell me about the teachers he had strong relationships with, he offered a typical answer: “Most of them are African American,” he said. “But it’s not even just about that. I like a teacher who tries to understand you for who you are. Not look at you as a student but as a human being and build with you.”

    Students also credited Black teachers with making them feel like they belonged at school. They sought out advice from teachers who believed in their potential and held them to high academic and behavioral standards. These qualities were by no means unique to Black teachers, but white teachers sometimes found it difficult to balance authority with warmth in their relationships with students.

    “There are some teachers that act like siblings and some that act like parents,” said Emily, a white social studies teacher. “And it’s very rare that a white teacher can act like a parent and have the kids still like them.”

    Black educators also had culturally relevant insights into college that students valued highly. They often had deeper knowledge of local historically Black colleges and universities, or they could speak to the experience of being a racial minority at a predominantly white institution. Students valued guidance more when it came from a source they felt was relatable.

    These findings suggest that Black educators are effective not only because of shared identity or experiences, but also because of the skills and dispositions they bring into the classroom: proactively building relationships, coupling high expectations with high levels of support, and bringing schoolwork to life. As a result, minority students held out hope not only for more representation in the classroom but also that all their teachers – regardless of race – would integrate these practices into their tool kits.

    Read more of our stories about Philadelphia.

    Joseph Sageman does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Black teachers are key mentors for Philly high school seniors navigating college decisions – https://theconversation.com/black-teachers-are-key-mentors-for-philly-high-school-seniors-navigating-college-decisions-261732

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  • MIL-OSI Submissions: Yosemite embodies the long war over US national park privatization

    Source: The Conversation – USA (2) – By Michael Childers, Associate Professor of History, Colorado State University

    The Ahwahnee is a privately run hotel inside Yosemite National Park. George Rose/Getty Images

    The Trump administration’s cuts to the National Park Service’s budget and staffing have raised concerns among park advocates and the public that the administration is aiming to further privatize the national parks.

    The nation has a long history of similar efforts, including a wildly unpopular 1980 attempt by Reagan administration Interior Secretary James Watt to promote development and expand private concessions in the parks. But debate over using public national park land for private profit dates back more than a century before that.

    As I explain in my forthcoming book, no park has played a more central role in that debate than Yosemite, in California.

    Early concerns

    In early 1864, Central American Steamship Transit Company representative Israel Ward Raymond wrote a letter to John Conness, a U.S. senator from California, urging the government to move swiftly to preserve the Yosemite Valley and the Mariposa Grove of giant sequoia trees to prevent them from falling into private hands. Five months later, President Abraham Lincoln signed the Yosemite Grant Act, ceding the valley and the grove to the state of California, “upon the express conditions that the premises shall be held for public use, resort, and recreation.” This was years before Yellowstone became the first federal land designated a national park in 1872.

    For centuries, the natural beauty of the Yosemite Valley has impressed visitors.
    Sepia Times/Universal Images Group via Getty Images

    Controversy arose quickly at Yosemite. Two men – James Lamon and James Hutchings – had claimed land in the valley before the federal government gave it to California. Both began commercial operations, Lamon growing cash crops and Hutchings operating a hotel.

    California said their businesses threatened the state’s ability to develop roads and trails in Yosemite by competing for tourist dollars. A legal battle ensued and was not resolved until an 1872 U.S. Supreme Court ruling found that the men’s land claims had not been fully validated according to the procedures of the time. The California legislature paid both men compensation for their land, and both left the park.

    In 1890, neighboring parts of the Yosemite area became America’s third national park – and in 1906, the federal government again took possession of the Yosemite Valley itself and the Mariposa Grove, specifically to incorporate them into an expansion of the national park.

    Development rights

    Yet, as my research has found, the role of private interests in the park remained unsolved. Private companies under contract to the National Park Service have long provided needed amenities such as lodging and food within the national parks. But questions over what is acceptable in national parks in the pursuit of profit have shaped Yosemite’s history for generations.

    In 1925, I found, the question centered on the right to build the first gas station inside the park, in Yosemite Valley. Two private businesses, the Curry Camping Company and the Yosemite National Park Company, had long competed for tourist dollars within the park. Each wanted to build a gas station to boost profits.

    Frustrated over the need to decide, National Park Service Director Horace Albright ordered the rival firms to simplify management of the park’s concessions. The companies merged, and the newly formed Yosemite Park and Curry Company was granted the exclusive rights to run lodges, restaurants and other facilities within the park, including the new gas station.

    But as I found in my research, the park service and the concessions company did not always see eye to eye on the purpose of the park. The conflict between profit and preservation is perhaps most clearly illustrated by the construction of a ski area within the park in the early 1930s. The park service initially opposed the development of Badger Pass Ski Area as not conducive to the national park ideal, but the Yosemite Park and Curry Company insisted it was key to boosting winter use of the park.

    In 1973, the Music Corporation of America, an entertainment conglomerate, bought the Yosemite Park and Curry Company. The company already had a tourist attraction operating near Hollywood, where visitors could pay to tour movie sets, but had not yet changed its name to Universal Studios or launched major theme parks in Florida and California. Its purchase of the park’s concessions set off a firestorm of controversy over fears of turning Yosemite into a theme park.

    That didn’t happen, but annual park visitor numbers climbed from 2.5 million to 3.8 million over the 20 years MCA ran the concessions, which sparked concerns about development and overcrowding in the park. Conservationists argued the park service had allowed the corporate giant to promote and develop the park in ways that threatened the very aspects of the park most people came to enjoy.

    With three restaurants, two service stations with a total of 15 gas pumps, two cafeterias, two grocery stores, seven souvenir shops, a delicatessen, a bank, a skating rink, three swimming pools, a golf course, two tennis courts, kennels, a barbershop, a beauty shop, Badger Pass Ski Area and three lodges, the Yosemite Valley was a busy commercial district. Critics argued that such development contradicted the park service’s mandate to leave national parks unimpaired for the enjoyment of future generations.

    Crowds gather at some of Yosemite’s most popular sites, such as the California Tunnel Tree.
    David McNew/AFP via Getty Images

    Who owns the names?

    Falling profits and consolidation within the music industry led MCA to sell its concessions rights in Yosemite in 1993. The Delaware North Companies, a global hospitality corporation, took over and ran the park’s concessions until 2016, when it sold the rights to Aramark.

    But in that sale, the question of public resources and private profits arose again. Delaware North demanded $51 million in compensation for Aramark continuing to use the names of several historic properties within the park, such as the Ahwahnee, a hotel, and Curry Village, another group of visitor accommodations. The company claimed those names were a part of its assets under its contract with the park service.

    The park service rejected the claim, saying the names, which dated back more than a century, belonged to the American people. But to avoid legal problems during the transition, the agency temporarily renamed several sites, including calling the Ahwahnee the Majestic Yosemite Hotel and changing Curry Village to Half Dome Village. Public outrage erupted, denouncing the claim by Delaware North as commercial overreach that threatened to distort Yosemite’s heritage. In 2019, the park service and Aramark agreed to pay Delaware North a total of $12 million to settle the dispute, and the original names were restored.

    Protesters unfurl an upside-down U.S. flag from the top of El Capitan in Yosemite National Park in February 2025, protesting Trump administration changes to the National Park Service.

    Renewed interest in commercial efforts

    In June 2025, Yosemite again took center stage in the dispute over the role of federal funding versus private interests at the start of the second Trump administration when a group of climbers unfurled an American flag upside down off El Capitan in protest of the administration’s cuts in personnel and slashing of the park service’s budget.

    Conservationists, including former National Park Service Director Jonathan Jarvis, argued that by defunding the park service and laying off as much as a quarter of its workforce, the Trump administration was “laying the groundwork to privatize” the national parks by allowing corporate interests more access to public lands. Those concerns echo ones raised during the first Trump administration, when the White House argued privatization would better serve the American public by improving visitor experiences and saving federal dollars.

    Whichever side prevails in the short term, the debate over the role of private interests within national parks like Yosemite will undoubtedly continue.

    Michael Childers does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Yosemite embodies the long war over US national park privatization – https://theconversation.com/yosemite-embodies-the-long-war-over-us-national-park-privatization-261133

    MIL OSI –

  • MIL-OSI United Kingdom: UKHSA reminds public to stay tick aware this summer

    Source: United Kingdom – Executive Government & Departments

    News story

    UKHSA reminds public to stay tick aware this summer

    The latest annual report on common animal-associated infections shows more than 1,500 cases of Lyme disease in 2024.

    The UK Health Security Agency (UKHSA) is reminding people of the steps they can take to protect themselves against tick bites this summer, as the latest annual data shows that there were 1,581 laboratory confirmed cases of Lyme disease reported in 2024.

    Case numbers fluctuate year on year and while cases have fallen by 5.2% in 2024 compared to 2023, the number of confirmed cases is likely an underestimate of the true burden of Lyme disease in England. It’s important to seek treatment as soon as possible if you start to develop symptoms of Lyme disease after a tick bite. Some people may not notice that they have been bitten as ticks are small and their bites rarely cause pain, which is why it’s important to check for ticks on all parts of the body soon after spending time outdoors this summer.

    Lyme disease is an infection that can be acquired when someone is bitten by an infected tick. Not all ticks are infected and not everyone who is bitten by an infected tick will develop Lyme disease. To pass on the infection, the tick needs to be attached for many hours. You are unlikely to develop Lyme disease if you just see a tick crawling on you which has not yet attached and fed.

    In those that do develop Lyme disease, a spreading ‘bullseye’ rash at the site of the tick bite is the most common symptom, which develops between 3 to 30 days after the bite. The rash does not occur in all cases and other symptoms include a fever, headache and fatigue, a facial droop, nerve pains and numbness or tingling in the hands or feet.

    While cases were reported across all regions, most confirmed cases in 2024 were reported in people living in the South West, South East and London regions.

    Cases of Lyme disease peak in the spring and summer months as the risk of exposure increases, which is why it’s important to be aware of the steps you can take to prevent being bitten over the next few months.

    Lyme disease can be successfully treated with antibiotics so if you do notice these symptoms after a tick bite, it is important to contact your GP to ensure you receive prompt treatment if needed.

    Christina Petridou, Consultant Microbiologist at UKHSA, said:

    It’s really important that people continue to be tick aware this summer to protect themselves against Lyme disease.

    The disease is usually acquired when spending time outdoors in green spaces, which people do more of in the summer months. After spending time in nature, people should take precautions such as checking for ticks and promptly and safely removing them which will reduce chances of infection.

    While not all ticks carry the bacteria that cause Lyme disease and not all bites will result in human infection, it’s still important to check for ticks when you return from outdoor activities. If you notice any symptoms like a spreading circular rash, flu-like symptoms, nerve pain or a droop on one or both sides of the face within a few weeks of being bitten by a tick, contact your GP or dial NHS 111.

    To reduce your risk of tick bites, while walking in green spaces, stick to clearly defined paths and try to avoid brushing against vegetation where ticks might be present.

    Also consider wearing clothing that covers your skin to make it more difficult for ticks to access a suitable place to bite.

    Use insect repellent (for example DEET) and regularly check clothing or exposed skin so that you can spot any crawling ticks and brush them off. After spending time outside, it’s very important to check yourself, your clothing, your pets and others for ticks. Remove any attached tick as soon as you find it using a tick removal tool or fine-tipped tweezers. Fine-tipped tweezers are different from regular tweezers that might be used to remove eyebrow hair. They are very narrow and pointed at the tip and ensure that ticks are not squashed during removal.

    Updates to this page

    Published 31 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: UK Government backs Ford’s global transformation

    Source: United Kingdom – Executive Government & Departments

    Press release

    UK Government backs Ford’s global transformation

    UK Export Finance announces a new £1 billion export guarantee, supporting Ford UK’s transition to electric vehicle production.

    • Iconic car manufacturer Ford continues global transformation as government backs new loan  

    • Financing assists Ford’s operations in developing world-leading products, including cleaner engines and electric power units while supporting thousands of jobs 

    • Latest action in the government’s Plan for Change and in support for the UK’s automotive sector as part of the Industrial Strategy 

    UK Export Finance (UKEF) is providing a £1 billion export development guarantee to Ford UK, supporting the car giant’s long-term growth ambitions around the world. 

    Ford operates various sites across the country including the UK’s largest automotive research & development (R&D) centre based in Essex and directly employs more than 5,500 workers across the country.   

    The loan will help Ford continue its global transformation, engineering and manufacturing smart, connected and electrified vehicles for customers around the world.  

    Chancellor of the Exchequer Rachel Reeves said:

    Ford has been the pride of Essex since 1911, over a century of innovation and industry. The R&D centre in Basildon employs thousands of people in well-paid, highly skilled jobs. 

    This £1 billion loan guarantee is a major boost for Britain’s auto sector. It will help develop world-leading products, open new export markets, and secure jobs. This is our Plan for Change in action – delivering growth and putting more money in people’s pockets.

    Business and Trade Secretary Jonathan Reynolds said:

    We’re proud of our historic auto sector, and the commitment that global companies like Ford have made to make cars and create jobs in the UK. 

    I’m delighted that UKEF is backing Ford in supporting the company’s ambitions for growth, helping to cement our position as a global leader for manufacturing and backing our Plan for Change. 

    This Government has taken significant action to back auto firms – including by securing landmark trade deals with the US and India to bring down tariffs for British car manufacturers and create new export opportunities, measures to lower electricity prices in our Industrial Strategy, and updating the ZEV mandate to support UK manufacturers and safeguard jobs of the future.

    In recent years, the company has invested heavily into electric vehicle development, including a £380 million transformation of its Halewood manufacturing plant from producing transmissions to electric motors for iconic vehicles like the Ford Transit van and Ford Puma. Ford has also invested £70 million in state-of-the-art testing and development labs at its R&D site in Essex.   

    This follows several significant announcements in recent months showing the government backing the UK’s automotive sector. This includes launching an Electric Car Grant to support the transition to zero emission vehicles and incentivise sustainable manufacturing, and the publication of the Advanced Manufacturing Sector Plan and Modern Industrial Strategy, which commits £2 billion capital and R&D funding to 2030, and an additional £500 million to extend the R&D support to 2035. This support is giving innovative manufacturers the confidence to pursue technological advancements needed in the automotive sector. 

    UKEF is guaranteeing 80 per cent (£800 million) of the £1 billion loan provided by Citi and a syndicate of lenders. Citi is the sole coordinator and agent on the loan to Ford. 

    This announcement forms part of the government’s Plan for Change to kickstart economic growth and raise living standards across the United Kingdom by supporting businesses to export and grow. 

    British car manufacturers now benefit from major tariff reductions when exporting to the US, thanks to the landmark trade deal secured with the US. The UK is the only country to have secured this deal with the US, which reduces car export tariffs from 27.5% to 10%, saving manufacturers hundreds of millions each year and protecting hundreds of thousands of jobs, backing the Plan for Change. 

    UKEF Chief Executive Tim Reid said:

    This is a great example of UKEF’s collaboration with the automotive industry, which is a key sector of the government’s Industrial Strategy. Our export development guarantee is a versatile product that has lasting impact on businesses. Boosting growth, securing key jobs, growing the UK’s export potential and doing so sustainably – that’s what UKEF does best. 

    Lisa Brankin, Chair, Ford Britain, said:

    Recent investments in the UK have proved crucial to our European operations and have expanded our UK export capability, on top of supporting Ford’s investment in an all-electric product line-for Europe. This new UKEF facility will play an important role in supporting our UK exporting footprint, especially amid the continued uncertainty in the trade landscape and the disconnect between electric vehicle targets and customer demand. 

    Richard Hodder, Global Head of Export and Agency Finance at Citi, said: 

    Citi is pleased to partner with Ford and UK Export Finance on this significant transaction. This third UKEF Guarantee loan under the EDG program demonstrates our dedication to supporting Ford’s global innovation and UK export operations. This transaction showcases both the cross-border expertise and local knowledge that Citi’s Services business provides clients in the UK, and around the world.

    This is the third EDG awarded by UKEF to Ford, taking total financing to almost £2.4 billion (£1.9 billion guaranteed by UKEF) since 2020: 

    • June 2022: £750 million UKEF EDG (UKEF guarantee of £600 million) supported phase two of Ford’s electric vehicle plans. The investment significantly expanding Ford’s electric power unit production line capability.  

    • June 2020: a £625 million UKEF EDG facility (UKEF guarantee on £500 million). This helped to finance Ford’s global vehicle research and development headquarters in Dunton in Essex, securing key of jobs and supporting the development of electric vehicle technologies. 

    This latest announcement follows the recent publication of UKEF’s annual report & accounts for 2024/25. 

    Over the last financial year, UKEF provided a record £14.5 billion in new financing, helping over 667 UK companies to export and grow and supported up to 70,000 jobs.

    Contact

    Media enquiries:

    Updates to this page

    Published 31 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Portsmouth’s D-Day Story honoured with 2025 Tripadvisor Travellers’ Choice award

    Source: City of Portsmouth

    www.scottjoyntpictures.com

    Portsmouth City Council is proud to announce that The D-Day Story has been awarded a 2025 Tripadvisor Travellers’ Choice Award, placing it among the top 10% of attractions worldwide based on visitor reviews and ratings.

    This recognition celebrates the museum’s continued excellence in delivering a powerful and engaging visitor experience, telling the story of D-Day and the Battle of Normandy through immersive displays, personal accounts, and historic artefacts — including the iconic Landing Craft Tank 7074 and the Overlord Embroidery.

    Cllr Steve Pitt, Leader of Portsmouth City Council and Cabinet Member for Culture, Leisure and Economic Development, said:

    “It’s great to see The D-Day Story recognised once again by Tripadvisor, and even more rewarding that so many of Portsmouth’s attractions have been recognised this year. These honours reflect the hard work of our teams and the unique experiences our city offers.

    “Portsmouth’s rich heritage, culture and stunning seafront continue to make it a top destination for visitors from across the UK and beyond.”

    The D-Day Story is one of several Portsmouth attractions to receive Tripadvisor’s Travellers’ Choice Award in 2025, reinforcing the city’s growing reputation as a must-visit cultural and historical destination.”

    Find more great places to go in Portsmouth on Visit Portsmouth.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Wolves at Work helps local residents grab starring roles at new city centre cinema

    Source: City of Wolverhampton

    Independent commercial operator, PDJ, opened the doors to the state of the art 4 screen venue inside the iconic Chubb Building earlier this month.

    It will ultimately employ a local workforce of 3 permanent and 20 part time staff – with 9 of the vacancies now filled by recruits from council led employment service, Wolves at Work.

    Roles include front of house service to ensuring the safety of customers watching films to offer the best experience possible.

    Working with city partners, Wolves at Work offers one to one support for residents living in Wolverhampton who are looking for work or to progress in their careers and is a free service available for people of any age to access.

    Residents are offered their own dedicated Work Coach who provides support with CVs, help to complete job applications and interview practice, advice on training courses and in work benefits and access to hundreds of local jobs through links with employers.

    Deon Marcel Millen from Bradmore in Wolverhampton, a Lockworks Cinema employee supported by Wolves at Work, said: “Wolves at Work were very, very helpful. I contacted them in April/May because I needed help finding a job and I got signed in which was nice and easy. A lady called Michelle helped me with my CV and within 3 weeks to a month I was able to get this job.

    “It’s really good here and the team and staff are great. It’s a well balanced job for me and I’m enjoying helping people.”

    Councillor Chris Burden, City of Wolverhampton Council Cabinet Member for City Development, Jobs and Skills, said: “Supporting our residents into jobs, skills and training is one of the key priorities for the city and Wolves at Work is producing positive employment outcomes for our residents.

    “PDJ has delivered an exciting new city centre cinema and by connecting with Wolves at Work it has ensured the new jobs available are going to local people.

    “The cinema, alongside other popular venues like the art gallery, Grand Theatre and University of Wolverhampton at The Halls, will also drive footfall to support neighbouring local businesses and help them grow – creating further job opportunities.”

    James Jervis, Director at PDJ Management, said: “We have been delighted to work with Wolves at Work. They have provided a brilliant service and the staff we have taken on have impressed from day one with an excellent attitude, big smiles and ensuring the Lockworks Cinema has best in class customer service.

    “The connection to the local area from our employees is a key part of what makes us a true independent cinema for the city.”

    To register for employment support visit the Wolves at Work office at i10, Railway Drive, Wolverhampton, WV1 1LH (Monday to Friday, 9am to 5pm), calling 01902 554400 or emailing wolvesatwork@wolverhampton.gov.uk.

    Local employers looking for support to fill roles can call on Wolves at Work’s team of dedicated Recruitment Managers. They can help by finding the right candidates for vacant roles and offer a range of support, from mapping potential candidates against your criteria through to arranging interviews. They also offer ongoing support to ensure that candidates stay in employment – from assisting with initial travel costs to providing advice on childcare and finances.

    Employers can advertise their vacances for free on Wolves Workbox, an online skills and employment website dedicated to the City of Wolverhampton. Anyone interested in doing this should visit Wolves Workbox or email recruitment@wolverhampton.gov.uk.  

    Check out the Lockworks Cinema website to buy tickets for the latest Hollywood blockbusters.

    MIL OSI United Kingdom –

  • MIL-OSI USA News: Fact Sheet: President Donald J. Trump Secures Major Settlement with Brown University

    Source: US Whitehouse

    SECURING HISTORIC SETTLEMENT WITH BROWN UNIVERSITY: Today, President Donald J. Trump secured a historic settlement with Brown University to restore fairness, merit, and safety in higher education.

    • The agreement ensures Brown will not engage in unlawful racial discrimination in admissions or university programming. Brown will provide access to all relevant data and information to rigorously assess compliance with its commitment to merit-based admissions. 
    • Brown will pay $50 million over ten years to state workforce development organizations that comply with anti-discrimination laws, supporting regional economic growth and career opportunities.
    • Brown will adopt the definitions of “male” and “female” from President Trump’s Executive Order 14168, “Defending Women from Gender Ideology Extremism” for women’s sports, programing, facilities, and housing.
    • Brown will not perform gender reassignment surgeries on minors or prescribe them puberty blockers or cross-sex hormones.
    • Brown will take steps to improve the campus climate for Jewish students and combat anti-Semitism.
    • The agreement reinstates all HHS grants, restores Brown’s eligibility for future grants and awards, and closes pending investigations into the university.
    • The agreement establishes a three-year monitoring period to ensure compliance with the agreement and federal laws.

    ADDRESSING DISCRIMINATORY PRACTICES AT BROWN: The Trump Administration took action to address concerns about violations of federal civil rights laws, protecting students and upholding fairness in higher education.

    • The settlement comes after public outcry over incidents and civil rights investigations into Brown’s alleged discrimination on the basis of race and national origin.
    • Brown’s failure to address anti-Semitism and ensure fair treatment for all students raised urgent concerns about student safety and equal opportunities.
    • Brown’s diversity, equity, and inclusion (DEI) programs promoted unlawful race-based outcomes, violating anti-discrimination laws.
    • By securing this settlement, the Trump Administration is ensuring that Brown upholds merit-based standards, complies with federal law, and fosters an environment of academic excellence and safety for all students.

    ADVANCING REFORMS IN HIGHER EDUCATION: President Trump is holding elite universities accountable, ensuring they prioritize fairness, merit, and American values.  

    • The Administration has challenged elite universities like Harvard, Columbia, and Brown for discriminating against students and staff, failing to protect students from violent anti-Semitism, and otherwise failing to be a responsible steward of taxpayer dollars.
    • President Trump signed a Proclamation to safeguard national security by suspending the entry of foreign nationals seeking to study or participate in exchange programs at Harvard University. 
    • The Administration successfully negotiated a resolution with the University of Pennsylvania to keep men out of women’s sports and restore the trophies and records of women.
    • President Trump secured a more than $200 million settlement with Columbia University to resolve claims related to discriminatory practices, marking a significant win for accountability in academia.

    MIL OSI USA News –

  • MIL-OSI USA: House Republicans Hit the Road to Spotlight Historic Wins for Americans in the One Big Beautiful Bill

    Source: US House of Representatives Republicans

    The following text contains opinion that is not, or not necessarily, that of MIL-OSI –

    WASHINGTON— House Republican Conference Chairwoman Lisa McClain (R-Mich.) is hitting the road during the August district work period to kick off the One Big Beautiful Tour, highlighting the wins the One Big Beautiful Bill (OBBB) delivers for working-class families, manufacturers, farmers, ranchers, and every hardworking American.

    For the first leg of the tour, Chairwoman McClain—the top messenger for House Republicans—is partnering with the National Association of Manufacturers to visit small and mid-sized manufacturers in the districts of Reps. Tom Kean, Jr. (NJ-07), Rob Bresnahan, Jr. (PA-08), and Ryan Mackenzie (PA-07).

    “It’s a privilege to help carry the message of President Trump and the American people’s agenda,” Chairwoman McClain said. “I have been sharing with my constituents in Michigan all the incredible things the One Big Beautiful Bill delivers for them. As Conference Chair, I have the opportunity to join my colleagues during this district work period and share that message across the country. I’m excited to help bring our results directly to more people and communities.”

    “This once-in-a-lifetime historic tax bill is the investment of a generation in America’s manufacturers,” NAM Executive Vice President Erin Streeter said. “These important tax provisions provide businesses of all sizes—across every state and congressional district—with the certainty they need to invest, innovate and grow. The NAM is proud to partner with Chairwoman McClain to tell the story of how these pro-growth tax policies are improving the quality of life for Americans all across the country. Because when manufacturing wins, America wins.”

    “The newly signed reconciliation package delivers real results for the American people,” Rep. Kean said. “By eliminating taxes on tips and overtime pay, this bill helps workers keep more of what they earn and strengthens our local economy. I am looking forward to welcoming Conference Chairwoman Lisa McClain and the National Association of Manufacturers to NJ-07 for a tour of Bihler of America in Phillipsburg. Their facility, known for its precision metal stamping and automated assembly systems, is a prime example of American manufacturing in action. This visit is a chance to see firsthand how the legislation is already making a difference for hardworking Americans and the manufacturers who employ them.”

    “I’m honored to welcome Chairwoman McClain to Northeastern Pennsylvania to highlight the real results House Republicans are delivering for our region,” Rep. Bresnahan said. “NEPA is built on the grit and work ethic of our families, small businesses, and local manufacturers that keep our region and our country moving forward. This reconciliation bill delivers meaningful wins for our community, and I’m proud to highlight how we are fighting in Washington for the people of Northeastern Pennsylvania during our visit to i2M next week.”

    “I’m looking forward to welcoming Chairwoman McClain to the Greater Lehigh Valley to showcase the incredible work being done at AMPAL. For decades, AMPAL has supported our local economy and played a key role in powering American manufacturing, defense, and innovation,” Rep. Mackenzie said. “Her visit underscores our shared commitment to growing jobs, strengthening American manufacturing, and highlighting the investments of the One Big Beautiful Bill. I’m proud to work together to deliver results that move our region and our country forward.”

    MIL OSI USA News –

  • MIL-OSI USA: We expect rapid electricity demand growth in Texas and the mid-Atlantic

    Source: US Energy Information Administration

    In-brief analysis

    July 31, 2025

    In our most recent Short-Term Energy Outlook (STEO), we forecast nationwide U.S. retail electricity sales to ultimate customers will grow at an annual rate of 2.2% in both 2025 and 2026, compared with average growth of 0.8% between 2020 and 2024. The forecast reflects rapid electricity demand growth in Texas and several mid-Atlantic states, where the grid is managed by the Electric Reliability Council of Texas (ERCOT) and the PJM Interconnection, respectively. We expect electricity demand in ERCOT to grow at an average rate of 11% in 2025 and 2026 while the PJM region grows by 4%.

    After relatively little change in U.S. electricity demand between 2005 and 2020, retail sales of electricity have begun growing again, driven by rising demand in the commercial and industrial sectors. Developers have proposed numerous data centers and large manufacturing facilities that could consume significant amounts of electricity, and many of these projects are concentrated in the ERCOT and PJM regions. But, the timing of these facilities’ initial operations remains uncertain.

    We publish short-term forecasts for electricity sales to ultimate customers for each of the nine census divisions and for the entire United States. We directly incorporate ERCOT’s and PJM‘s monthly projections for power demand into our sales forecasts for the relevant regions. The portion of the power grid that ERCOT operates is located within the West South Central Census Division, which consists of Texas and three neighboring states: Oklahoma, Louisiana, and Arkansas. In Texas, electricity is delivered to end-use customers by four large investor-owned utilities and several municipal utilities.

    We expect electricity demand within ERCOT to increase by 7% in 2025 and by 14% in 2026 when some large data centers and cryptocurrency mining facilities come online. We expect retail electricity sales in the broader West South Central Census Division to grow by 5% this year and 9% in 2026.

    Dozens of utilities deliver electricity on the PJM Interconnection portion of the grid, which covers 13 states in parts of the Middle Atlantic, South Atlantic, and East North Central Census Divisions. Within the area covered by PJM, the Northern Virginia market contains the highest concentration of data centers in the world, according to analysis conducted for Virginia’s state government. The growing demand for power by these new customers could increase electricity sales in PJM by 3% in 2025 and 4% in 2026.

    Principal contributor: Tyler Hodge

    MIL OSI USA News –

  • MIL-OSI: Arctic Pablo Coin Presale Roars Past $3.16M as Final Countdown Begins: 16k% Gains Projected

    Source: GlobeNewswire (MIL-OSI)

    LONDON, July 31, 2025 (GLOBE NEWSWIRE) — The Arctic Pablo Coin ($APC) presale has entered its 34th stage, breaking past $3.16 million raised and delivering early investors a jaw-dropping 4,033% ROI. With only two stages left before the presale ends, urgency is at an all-time high as analysts project potential 16,029% gains if the coin hits its long-term target of $0.10. For those searching for the top crypto presale to join now, the window to act is closing fast.

    A Meme Coin With Teeth, Not Just Talk

    Arctic Pablo Coin started as a meme coin with a story, but it has evolved into a full-blown crypto ecosystem. Unlike countless meme projects that rely solely on hype, $APC blends viral appeal with a deflationary token model, staking rewards, and community-driven governance. The project has burned millions of tokens, building scarcity while keeping long-term holders hungry for more.

    The narrative? Arctic Pablo is an adventurer exploring icy blockchain frontiers, and its followers are along for the treasure hunt. That kind of branding, paired with robust tokenomics, explains why Arctic Pablo has become a top crypto presale to join now as it inches toward the finish line.

    Tokenomics That Bite Into Supply

    The Arctic Pablo Coin presale isn’t just raising funds—it’s reshaping supply and demand dynamics. Weekly token burns eliminate unsold tokens, permanently reducing supply and creating upward pressure on price. Staking rewards offer a 66% APY for early supporters, while liquidity is locked to prevent rug pulls and maintain investor trust.

    At Stage 34’s presale price of $0.00062, early buyers are positioned to see 1,190% gains at launch when APC lists at $0.008, with long-term projections eyeing 16,029%. That kind of growth potential has catapulted APC into conversations as one of the top crypto presales to join now, giving retail investors a rare early-access opportunity.

    Presale Mechanics That Reward Early Action

    Each stage of the presale runs for one week, with automatic price increases when stages unlock. That means every delay in buying costs investors both tokens and potential ROI. With Stage 34 already live and Stage 35 on deck, the presale is only two steps from its conclusion. Early birds are stacking tokens while they’re still cheap because, in crypto, hesitation often equals regret.

    This staged model is what has helped APC raise $3.16 million and counting, even as meme coin markets become increasingly crowded. The numbers speak for themselves: this isn’t just another presale; it’s one structured to reward speed and conviction.

    Community Energy That Can’t Be Ignored

    Arctic Pablo Coin has built one of the most engaged meme coin communities in 2025, spreading its arctic-themed adventure narrative across Twitter, Telegram, Discord, and beyond. Investors are sharing memes, price predictions, and presale milestones in real time, fueling a grassroots movement that’s helping drive momentum.

    This organic hype is why Arctic Pablo has gained a reputation as one of the top crypto presales to join now. Unlike corporate-driven projects, this is a community-powered movement—a critical factor in meme coin success stories.

    The Final Call Before the Snowball Rolls

    With only two stages left and billions of tokens already burned, Arctic Pablo Coin presale is entering its endgame. The presale price of $0.00062 offers a direct path to 1,190% ROI at launch—with much more upside if long-term predictions hold. For those still sitting on the fence, the clock is ticking.

    If history has shown anything, meme coins with this kind of narrative power, deflationary supply, and community backing often become market movers. Arctic Pablo is proving to be no different. For investors seeking the top crypto presale to join now, this is a chance to jump on before the snowball becomes an avalanche.

    For More Information:

    Arctic Pablo Coin: https://www.arcticpablo.com/ 

    Telegram: https://t.me/ArcticPabloOfficial 

    Twitter: https://x.com/arcticpabloHQ 

    About Arctic Pablo Coin

    Arctic Pablo Coin ($APC) is a blockchain-based meme coin designed to combine digital storytelling, decentralized finance, and community governance. Built on deflationary tokenomics, NFT integration, and staking incentives, APC aims to evolve meme culture into a functional crypto ecosystem.

    Contact:
    Team@arcticpablo.com

    Disclaimer: This content is provided by Arctic Pablo Coin. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.Globenewswire does not endorse any content on this page.

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    The MIL Network –

  • MIL-OSI: Top Mortgage Recruiter Tina Jablonski Joins Rate as SVP, Market Growth

    Source: GlobeNewswire (MIL-OSI)

     

    CHICAGO, July 31, 2025 (GLOBE NEWSWIRE) — Rate, a leading fintech company, today announced that seasoned mortgage recruiter Tina Jablonski has joined the company as Senior Vice President, Market Growth. Jablonski will focus on expanding Rate’s reach by recruiting high-performing loan officers across the company’s Midwest presence.

    Jablonski brings more than 30 years of mortgage industry experience to the role. She most recently led national growth initiatives for NewRez’s distributed retail division, where she helped scale teams in competitive markets nationwide. Throughout her career, Jablonski has built a reputation for cultivating lasting relationships and identifying top talent that drives performance.

    “I made the move to join a dynamic organization that’s truly committed to growth, opportunity, and a people-first culture,” said Jablonski. “I couldn’t imagine a better scenario, doing what I love while being surrounded by longstanding industry friends. These relationships have been foundational to my career and in many ways, the industry itself.”

    “We could not be prouder to welcome Tina to Rate,” said Jim Eboli, EVP, Divisional Manager. “Her leadership will take us to the next level in several of our ‘must-win’ markets. She brings an amazing skill set for cultivation.”

    This appointment comes at a time when Rate is accelerating its investment in talent and growth across priority markets nationwide.

    About Rate
    Rate Companies is a leader in mortgage lending and digital financial services. Headquartered in Chicago, Rate has over 850 branches across all 50 states and Washington, D.C. Since its launch in 2000, Rate has helped more than 2 million homeowners with home purchase loans, refinances, and home equity loans. The company has cemented itself as an industry leader by introducing innovative technology, offering low rates, and delivering unparalleled customer service. Recent honors and awards include: a Best Mortgage Lender of 2025 by Fortune; Best Mortgage Lender of 2025 for First-Time Homebuyers by Forbes; a Best Mortgage Lender of 2025 for FHA Loans, Home Equity Loans, and Lower Credit Scores by NerdWallet; Best Mortgage Lender of 2025 for Digital Experience and Down Payment Assistance by Motley Fool; Chicago Agent Magazine’s Lender of the Year for seven consecutive years. Visit rate.com for more information.

    Media Contact
    press@rate.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5eb258e2-5fb2-406c-a4bf-0584b76ae080

    The MIL Network –

  • MIL-OSI: 2X acquires Outbound Funnel, expanding comprehensive RevOps and AI-powered go-to-market technology services leadership

    Source: GlobeNewswire (MIL-OSI)

    MALVERN, Pa., July 31, 2025 (GLOBE NEWSWIRE) — 2X, the leader in subscription-based go-to-market services, today announced the acquisition of Outbound Funnel, a premier revenue operations consultancy specializing in AI-powered sales engagement and revenue intelligence platforms across the modern GTM technology stack. As the longest-standing partner for leading platforms including Gong, Outreach, SalesLoft, and 6sense, Outbound Funnel brings unparalleled expertise in implementation, optimization, and managed services. This strategic acquisition significantly expands 2X’s revenue operations capabilities and reinforces its position as the definitive subscription-based services partner for comprehensive GTM transformation.

    The acquisition brings together complementary expertise spanning the entire GTM technology ecosystem. Outbound Funnel has established itself as the first and longest-standing implementation partner across multiple sales engagement platforms, with over 800 Outreach implementations, 600+ Gong deployments, and hundreds of SalesLoft implementations. The company’s deep cross-platform expertise enables complex migrations and integrations, including transformative projects like consolidating eight separate instances into a unified system for enterprise clients like Intercom, Siemens, Affirm, Asana, and Expensify.

    Expanding Revenue Operations Excellence

    This acquisition builds on 2X’s strategic investments in revenue operations, including the recent acquisition of Intelligent Demand, which brought best-in-class RevOps capabilities to the 2X portfolio. Together, these acquisitions position 2X as the definitive partner for organizations seeking comprehensive revenue operations advisory and managed services.

    “Revenue operations has become the strategic backbone of modern GTM organizations, and AI-powered sales engagement platforms are transforming how these teams operate,” said Dom Colasante, CEO of 2X. “Outbound Funnel’s position as the first and longest-standing partner across leading sales engagement platforms, combined with their expertise in AI-driven revenue intelligence and complex platform migrations, makes them the ideal addition to our comprehensive GTM services portfolio. Together, we’re delivering the full spectrum of technology implementation and managed services that revenue leaders need.”

    AI-Powered GTM Technology Leadership

    Outbound Funnel operates at the center of the AI-powered sales engagement ecosystem, with deep expertise across platforms leveraging conversation intelligence, predictive analytics, and automated workflows. The company’s comprehensive partner network includes AI-driven platforms like Gong for revenue intelligence, MadKudu’s AI prospecting tools, ChiliPiper’s AI-powered demand conversion, and other next-generation technologies. This acquisition positions 2X as the definitive partner for organizations seeking to implement and optimize AI-powered GTM technology stacks with ongoing managed services support.

    Strengthening GTM Technology Services

    The addition of Outbound Funnel positions 2X as the premier subscription-based partner for GTM technology implementation and ongoing managed services. With Outbound Funnel’s specialized expertise in revenue technology consulting, implementation, integration, project services, training, custom solutions, and managed services, 2X can now offer comprehensive subscription-based solutions that extend GTM technology vendors’ capabilities with ongoing operational support and strategic advisory.

    “We’re thrilled to welcome the exceptional Outbound Funnel team to 2X,” said Colasante. “Their deep technical expertise and proven success in transforming revenue operations through technology value realization perfectly complements our scalable managed services model. This acquisition brings top-tier talent from expert implementation consultants to revenue operations specialists who will help us deliver even greater value to our clients.”

    Validation from Technology Partners

    The acquisition has garnered support from leading GTM technology companies, reflecting the strong partnerships Outbound Funnel has built across the ecosystem.

    “We’re excited about 2X’s investment in the revenue intelligence ecosystem through this acquisition,” said Rob Moyer, Global Head of Partnerships of Gong. “Outbound Funnel has been an exceptional implementation partner, and their expertise combined with 2X’s comprehensive managed services model creates exceptional value for organizations looking to maximize their GTM technology investments.”

    Proven Success with Leading Organizations

    Outbound Funnel’s track record speaks to the quality of their team and approach across the entire GTM technology landscape. Their clients consistently report exceptional results, including 98% adoption rates across sales engagement platforms, 10% increases in win rates through AI-powered conversation intelligence, and significantly accelerated deployment timelines. The company’s expertise spans from complex multi-year migration projects to ongoing optimization of AI-driven revenue operations.

    “Outbound Funnel was instrumental in helping us maximize our AI-powered platform investments,” said a Head of Enablement & Product Marketing at a leading technology company. “Their cross-platform expertise and deep understanding of AI-driven sales engagement tools enabled us to achieve incredible results with 98% adoption across our GTM teams and a 10% increase in win rate.”

    What’s Next

    “We’re incredibly excited to join the 2X family and bring our comprehensive GTM technology expertise to their world-class managed services platform,” said Curtis Ropp, Founder and CEO of Outbound Funnel. “From day one, we’ve been committed to helping organizations maximize the value of their entire sales engagement and revenue intelligence technology stack. As the first implementation partner across multiple leading platforms, we’ve built deep expertise in AI-powered conversation intelligence, sales automation, and complex migrations. Partnering with 2X allows us to scale this impact and deliver even greater value to clients who need both strategic implementation and ongoing operational support across their entire GTM technology ecosystem.”

    Curtis Ropp will join the 2X management team and continue to operate and grow Outbound Funnel, now a 2X company.

    About 2X

    2X is the global leader in subscription-based go-to-market services, helping GTM leaders achieve greater impact while lowering costs through its comprehensive managed services delivery model. Building on its foundation as the leader in B2B marketing as a service (MaaS), 2X now provides end-to-end go-to-market solutions including marketing operations and MarTech management, campaign build and optimization, content and creative production, revenue operations, sales technology implementation, and strategic consulting services. 2X is a services partner of 6sense, Salesforce, Adobe Marketo Engage, HubSpot, Gong, Bombora, Drift, WordPress, Google, Meta, and many other leading revenue platforms.

    With more than 1,000 team members globally, 2X is backed by private-equity firms Recognize Partners and Insight Partners. 2X has been recognized as one of the fastest-growing companies in the US by Inc. and the Financial Times. For more information, visit 2X.marketing or our LinkedIn.

    About Outbound Funnel

    Outbound Funnel is a premier revenue operations consultancy specializing in AI-powered sales engagement and revenue intelligence technology implementation and optimization. As the first and longest-standing implementation partner across leading platforms including Outreach (800+ implementations), Gong (600+ deployments), and SalesLoft (hundreds of implementations), Outbound Funnel has helped thousands of organizations transform their revenue operations through expert deployment of AI-driven platforms and strategic advisory services. With a team of seasoned RevOps experts, Outbound Funnel empowers GTM teams to maximize their technology investments and drive measurable business outcomes. With a team of seasoned RevOps experts, Outbound Funnel empowers GTM teams to maximize their technology investments and drive measurable business outcomes.

    About Recognize

    Recognize is a distinguished investor and business builder focused on next-generation Digital Services companies. Headquartered in New York, the firm seeks to back visionary founders, entrepreneurs, and management teams who are building innovative businesses that leverage AI, software, and digital platforms to deliver transformative outcomes to enterprises. Recognize provides deep operational expertise, industry relationships, and strategic capital to drive accelerated growth of these specialized businesses. To learn more, visit www.recognize.com.

    About Insight Partners

    Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of December 31, 2024, the firm has over $90B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.

    Media Contact
    Audree Hernandez
    JMAC PR for 2X
    2X@jmacpr.com

    The MIL Network –

  • MIL-OSI: Kody Miller Returns to Rate from CrossCountry Mortgage, Bringing Elite Tech and Client Focus as VP of Mortgage Lending

    Source: GlobeNewswire (MIL-OSI)

    DENVER, July 31, 2025 (GLOBE NEWSWIRE) — Rate, a leading fintech company, today announced that Colorado-based loan officer Kody Miller has rejoined the company. Miller, who has served homebuyers in the Denver area and beyond for more than a decade, brings a deep commitment to client service, strong community ties, and a proven record of leadership in the local business community.

    A Colorado native, Miller previously held board leadership positions with the Colorado Springs Executives Association and The Pikes Peak Club. His team now serves clients nationwide, though he continues to be a trusted resource for families across Colorado.

    “I made the move back to Rate after exploring other opportunities because of its unmatched technology, elevated professionalism, and commitment to excellence,” said Miller. “Simply put, Rate operates at a higher level, and it’s where I know I can best serve the market, given my own skills and talents. I’m proud to be back with a company that sets the standard in every area and at every touch point, serving customers with the best tools and people in the industry.”

    “We’re excited to welcome Kody back to Rate,” said Shant Banosian, President of Rate. “He’s been a trusted resource for borrowers in the Denver area for years, and his deep community involvement reflects the values we prioritize as a company. We’re proud to have him on the team again.”

    Miller’s return comes as Rate continues to build momentum by investing in technology, service, and local leadership to grow its reach and impact in top markets across the country.

    About Rate
    Rate Companies is a leader in mortgage lending and digital financial services. Headquartered in Chicago, Rate has over 850 branches across all 50 states and Washington, D.C. Since its launch in 2000, Rate has helped more than 2 million homeowners with home purchase loans, refinances, and home equity loans. The company has cemented itself as an industry leader by introducing innovative technology, offering low rates, and delivering unparalleled customer service. Recent honors and awards include: a Best Mortgage Lender of 2025 by Fortune; Best Mortgage Lender of 2025 for First-Time Homebuyers by Forbes; a Best Mortgage Lender of 2025 for FHA Loans, Home Equity Loans, and Lower Credit Scores by NerdWallet; Best Mortgage Lender of 2025 for Digital Experience and Down Payment Assistance by Motley Fool; Chicago Agent Magazine’s Lender of the Year for seven consecutive years. Visit rate.com for more information.

    Media Contact
    press@rate.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a46d50a3-ec99-4408-91ef-4c83840f0f81

    The MIL Network –

  • MIL-OSI: Grayscale® Launches Grayscale® Story Trust

    Source: GlobeNewswire (MIL-OSI)

    STAMFORD, Conn., July 31, 2025 (GLOBE NEWSWIRE) — Grayscale®, the world’s largest digital asset-focused investment platform, today announced the creation and launch of Grayscale® Story Trust (the “Trust”). The Trust provides investors with exposure to $IP, the native token of the Story network.

    Story is a blockchain network that powers programmable intellectual property, making real-world data a licensable, attributable subset of intellectual property for the artificial intelligence (AI) era. Designed to support the growing needs of AI, the creator economy, and digital rights management, Story enables ownership that is secure, scalable, and easily integrated across blockchain applications. Specifically, Story is designed to make intellectual property, including music, media, personal likeness, and real-world data like video and speech, traceable, enforceable, and monetizable on-chain. By transforming intellectual property and real-world data into fully programmable on-chain assets, Story is laying the foundational infrastructure for the global intellectual property economy, which has been reported to be worth as much as $80 trillion.1

    Although traditional intellectual property systems have served important roles, they can be fragmented, intermediary-dependent, and sometimes struggle to keep pace with the rapid evolution of digital content and AI. Story offers a new perspective designed to meet these emerging challenges. At the core of its architecture is a framework for representing intellectual property as smart contract-enabled non-fungible tokens, embedding licensing logic, attribution rules, and royalty flows, informed by intellectual property law, directly into the assets themselves. This aims to allow creators, companies, and even AI agents to register, remix, and monetize intellectual property compliantly.

    Today, adoption of Story is accelerating, driven by real-world use cases across cultural and technical ecosystems, from major artists and global brands to next-generation AI platforms. With over 1.7 million intellectual property transactions and more than 200,000 monthly users,2 Story is demonstrating growing demand for infrastructure that treats intellectual property as a programmable, on-chain primitive.3 Story also develops original initiatives like Poseidon, which brings real-world data to AI systems, including robots, surgical assistants, and autonomous vehicles. These partnerships and projects reflect the protocol’s broad and transformative potential.

    “Grayscale Story Trust gives investors exposure to a protocol shaping the foundational intellectual property layer for the information and AI era,” said Rayhaneh Sharif-Askary, Head of Product & Research at Grayscale. “That includes not just creative content, but real-world data — the force powering one of today’s most advanced intelligent systems.”

    “This launch marks a significant milestone in bringing programmable intellectual property to institutional markets. Story was designed to support the full lifecycle of intellectual property; from music and media to the real-world datasets that power intelligent systems. The launch of Grayscale Story Trust reflects growing recognition that intellectual property, in all forms, has the potential to become one of the most important assets of the AI era. With $IP now available via a Grayscale Trust, investors can gain exposure to the infrastructure layer that enables programmable licensing and attribution across AI and creative applications,” said SY Lee, Chief Executive Officer and Co-Founder of PIP Labs, an initial core contributor to Story.

    The Trust is now open for daily subscription by eligible individual and institutional accredited investors.* The Trust functions like Grayscale’s other single-asset investment trusts and is solely invested in the $IP token underpinning the Story protocol. For additional information regarding the seeding of the Trust and other ways in which an investment in the Trust might differ from an investment in Grayscale’s other single-asset investment trusts, please refer to the Private Placement Memorandum relating to the Trust.

    This press release is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

    *An accredited investor, as defined in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended, is an individual with income over $200,000 ($300,000 with spouse) in each of the past two years, an individual with net worth over $1 million, excluding primary residence, an individual holding certain financial licenses (e.g., Series 7, 65, or 82), or an entity with over $5 million in assets or all equity owners who are accredited.

    Grayscale may attempt to have shares of new products quoted on a secondary market. However, there is no guarantee that Grayscale will be successful. Although the shares of certain products have been approved for trading on a secondary market, investors in the new products should not assume that the shares will ever obtain such an approval due to a variety of factors, including questions regulators, such as the SEC, FINRA, or other regulatory bodies may have regarding such products. As a result, shareholders of such products should be prepared to bear the risk of investment in the shares indefinitely. To date, certain products have not met their investment objective, and the shares of such products quoted on OTC Markets have not reflected the value of the digital assets held by such products, less such products’ expenses and other liabilities, but have instead traded at a premium over such value, which at times has been substantial. There have also been instances where the shares of certain products have traded at a discount.

    Private placement securities are speculative, illiquid, and entail a high level of risk, including the risk that an investor could lose their entire investment. The Story protocol was relatively recently conceived and its particular underlying technological mechanisms may not function as intended, which could have an adverse impact on the value of IP and an investment in the Shares.

    Extreme volatility of trading prices that many digital assets have experienced in recent periods and may continue to experience, could have a material adverse effect on the value of the Trust and the shares could lose all or substantially all of their value.

    [1] According to the World Intellectual Property Organization’s 2025 Global Innovation Index, the estimated value of intangible assets — including intellectual property, data, software, brands, and human capital — held by publicly listed companies worldwide exceeds $80 trillion. Source: WIPO, The Value of Intangible Assets of Corporations (2025).

    [2]Story Blockchain Explorer, as of July 7, 2025

    [3] “On-chain primitive” refers to a foundational building block of blockchain-based systems, like a token or NFT, that is natively programmable and usable within blockchain applications.

    About Grayscale
    Grayscale enables investors to access the digital economy through a family of future-forward investment products. Founded in 2013, Grayscale has a decade-long track record and deep expertise as a digital asset-focused investment platform. Investors, advisors, and allocators turn to Grayscale for single asset, diversified, and thematic exposure. For more information, please follow @Grayscale or visit grayscale.com.

    Media Contact
    press@grayscale.com

    Client Contact
    866-775-0313
    info@grayscale.com

    The MIL Network –

  • MIL-OSI: Silver State Schools Credit Union Adopts Point Predictive’s Income and Employment Validation Technology, IEValidateTM To Streamline Member Experience

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, July 31, 2025 (GLOBE NEWSWIRE) — Silver State Schools Credit Union (SSSCU), Nevada’s trusted financial partner serving communities across the Silver State, today announced the adoption of IEValidate. The adoption will transform SSSCU’s lending process by enabling instant income and employment verification, allowing the credit union to safely grow its portfolio while creating a friction-free experience for members.

    The integration addresses a critical challenge in today’s lending environment, where traditional income verification methods often frustrate members and slow down the approval process.

    With IEValidate, SSSCU will be able to

    • Streamline loans – automate up to 80% of income and employment validations.
    • Reduce risk – identify fraud and misrepresentation.
    • Convert more loans – increase conversion rates of credit-approved loans by 50%.

    “At SSSCU, our members come first, and we’re always looking for ways to make their financial journey smoother and more convenient,” said Scott Arkills, CEO of SSSCU. “By partnering with Point Predictive, we’re not just improving our lending process – we’re revolutionizing how our members experience financing. This technology allows us to say yes faster while maintaining the security and reliability our members expect from their credit union.”

    Point Predictive’s IEValidate will enable SSSCU to provide insights that can reduce proof of income and employment requests on up to 80% of approved loans, dramatically improving the member experience while maintaining robust risk management standards.

    IEValidate provides instant validation of member income and employment, eliminating the need for pay stubs, bank statements, or banking credentials. When an applicant applies for a loan, rather than supplying this information, SSSCU will access income and employment validation directly from Point Predictive in less than a second. Armed with that information, the credit union can determine if further information is needed, allowing most loans to proceed without additional documentation safely.

    “Silver State Schools Credit Union represents exactly the kind of forward-thinking financial institution that understands how technology can enhance member relationships while strengthening their lending portfolio,” said Tim Grace, CEO of Point Predictive. “By implementing our income and employment verification solutions, SSSCU is positioning itself to serve its members more effectively, providing faster approvals and a more convenient lending experience while maintaining the highest standards of risk management.”

    For SSSCU members, the benefits will be immediate and tangible. Loan applications that previously required multiple days for income verification can now be processed in minutes. Members will no longer need to search for pay stubs or wait for employer verification calls, creating a streamlined experience that aligns with their expectations for modern financial services.

    About Silver State Schools Credit Union:

    Silver State Schools Credit Union (SSSCU), founded in 1951, is a State-Chartered financial cooperative focused on Prioritizing People Over Profit. The Credit Union serves over 64,000 members in the Southern Nevada community, with ten branches in the valley. SSSCU provides “Excellent Member Service and Financial Solutions – For Life!” via a wide range of banking products, that are simple, secure, and convenient.

    As of March 31st, 2025, SSSCU reported Total Assets of $1.284 Billion, Deposits of $1.179 Billion, and Loans of $906 Million. Liquidity remains strong at $$168 Million, and the Credit Union is well-capitalized with a Regulatory Net Worth of $118 Million, equal to 9.21% of Total Assets. Accounts are insured up to $500,000. American Share Insurance insures each account up to $250,000. Excess Share Insurance Corporation provides up to an additional $250,000 of insurance per account. This institution is not federally insured. For more information, visit silverstatecu.com

    About Point Predictive:

    Point Predictive powers a new level of lending confidence and speed through artificial intelligence, powerful data insight from our proprietary data repository, and decades of risk management expertise. The company’s data and technology solutions quickly and accurately identify truthful and untruthful disclosures on loan applications. As a result, lenders can fund the majority of loans without requiring onerous documentation, such as pay stubs, utility bills, or bank statements, improving funding rates while reducing early payment default losses. Subsequently, borrowers receive loans more quickly, and lenders achieve a more profitable bottom line. For more information, please visit pointpredictive.com.

    The MIL Network –

  • MIL-OSI: Data Storage Corporation Schedules Second Quarter 2025 Business Update Conference Call

    Source: GlobeNewswire (MIL-OSI)

    MELVILLE, N.Y., July 31, 2025 (GLOBE NEWSWIRE) — Data Storage Corporation (Nasdaq: DTST) (“DSC” and the “Company”), today announced plans to host a conference call at 11:00 a.m. Eastern Time on Thursday, August 14, 2025, to discuss the Company’s progress and the financial results for the second quarter of 2025, which ended June 30, 2025.

    The conference call will be available via telephone by dialing toll-free 877-407-9219 for U.S. callers or for international callers +1-412-652-1274. A webcast of the call may be accessed at DSC Q2 2025 Earnings Call or on the Company’s News & Events section of the website, www.dtst.com/news-events.

    A webcast replay of the call will be available on the Company’s website (www.dtst.com/news-events) through February 14, 2026. A telephone replay of the call will be available approximately three hours following the call, through August 21, 2025, and can be accessed by dialing 877-660-6853 for U.S. callers or + 1-201-612-7415 for international callers and entering conference ID: 13755236. 

    About Data Storage Corporation
    Data Storage Corporation (Nasdaq: DTST), through its subsidiaries, is focused on providing solutions that ensure business continuity, improvement in business processes, and efficiency, while striving to build shareholder value.

    For more information, please visit www.dtst.com or follow us on X @DataStorageCorp.

    Safe Harbor Provision
    This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created thereby. Forward-looking statements are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to have been correct. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. These risks should not be construed as exhaustive and should be read together with the other cautionary statements included in the Company’s Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it was initially made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or otherwise.

    Contact:
    Crescendo Communications, LLC
    212-671-1020
    DTST@crescendo-ir.com

    The MIL Network –

  • MIL-OSI: ServiceTrade Unveils 4 Keys to Unlocking Peak Valuations for Commercial Service Businesses

    Source: GlobeNewswire (MIL-OSI)

    DURHAM, N.C., July 31, 2025 (GLOBE NEWSWIRE) — ServiceTrade, an innovative software platform that optimizes commercial service business operations for growth and profit, today announced four key strategies to significantly boost business valuations and ensure successful M&A outcomes. These insights offer commercial service contractors practical strategies to build, measure, and enhance their business value using ServiceTrade. 

    The fire and life safety and mechanical service markets are experiencing a marked acceleration in consolidation activity. This trend began in 2023 and intensified through the first half of 2025, encompassing significant acquisitions exceeding $1 billion alongside numerous smaller roll-ups and consolidations. Notably, private equity deals in the mechanical and HVAC services market have surged 88%. In parallel, the fire and life safety markets maintain a robust average of 38 transactions per quarter this year. 

    “Whether you’re preparing for a future exit or building a strong, high-performing business, you need a plan to create long-term value,” said Billy Marshall, Founder of ServiceTrade. “Contractors that prioritize recurring revenue, technician productivity, operational efficiency, and customer satisfaction consistently achieve higher valuations—and have more options when it’s time to sell.”

    ServiceTrade has outlined four key areas of value creation that maximize growth, scale, and attractiveness to potential acquirers.

    1. Revenue Predictability and Quality

    Recent industry trends show recurring revenue streams command valuation premiums 3-5 times higher than one-off project revenue. Additionally, commercial service providers whose revenue primarily derives from recurring maintenance and inspection work grow at twice the rate of their peers. Prioritizing the most profitable customers and protecting margins through automation further enhances this.

    • Aim for 80% of revenue to come from long-term service contracts and committed recurring revenue. Avoid “one-and-done” project customers. 
    • Focus on the most profitable customers and minimize low-quality projects or break/fix work.

    2. Optimized for Technician Productivity

    Commercial service companies that optimize technician productivity experience significantly higher margins and improved customer satisfaction. By utilizing mobile field technology and smart workforce management, these companies eliminate administrative burdens, empowering technicians to deliver more billable work and more value to the customer, while enjoying higher work satisfaction.

    • Establish technician productivity baselines and implement tracking systems to meet or exceed industry-leading benchmarks. 
    • To attract and retain skilled technicians, eliminate unnecessary administrative tasks in the field, to overcome the ongoing skilled labor shortage.
    • Streamline communications among technicians, office staff, and customers through digital work orders and automated customer updates.

    3. Enhance Operational Efficiency with Better Technology

    Companies that leverage tailored technology to streamline operations create significant competitive advantages by maximizing productivity, employee satisfaction, and customer experiences. Modern technology solutions provide staff with real-time data and tools to manage tasks and customer interactions efficiently, fostering an engaged, high-performing workforce. 

    • Utilize purpose-built technology to optimize technician performance and operational efficiency.
    • Implement comprehensive, integrated solutions to manage workflows, digitally reduce errors, and minimize administrative tasks.
    • Leverage technology to increase employee engagement, satisfaction, and accountability.

    4. Prioritize Your Most Valuable Customers

    Creating a customer-first culture dramatically improves customer retention and satisfaction, ultimately driving sustainable business growth. Companies position themselves as trusted, customer-focused partners by leveraging digital solutions to provide transparent, timely, and comprehensive customer communications. 

    • Make retaining and expanding your most profitable customers a corporate priority.
    • Target a 90% customer retention rate through proactive and personalized customer engagement strategies. 
    • Digitize all customer communications, offering seamless access to service histories, quotes, invoices, approvals, and status updates. 
    • Develop comprehensive customer records, including detailed service histories, contractual agreements, profitability analyses, and revenue contribution insights.

    Rod DiBona, Pye-Barker Fire & Safety’s Executive Vice President of Business Development, added insight for sellers in a recent webinar with ServiceTrade on M&A readiness:

    “In today’s market, buyers are looking for more than just top-line revenue,” said DiBona, “Businesses that retain customers, are committed to their employees, grow accounts, and use technology to scale profitably are more valuable and attractive to strategic and private equity buyers.”

    Commercial service contractors can learn more about building valuation using these resources:

    Webinar: M&A Readiness with Pye-Barker: Building Your Toolkit for a Strong Exit 

    eBook: The Ultimate Guide to Building a Fire & Life Safety Business For a Successful Exit

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    The MIL Network –

  • MIL-OSI: Bogota Financial Corp. Reports Results for the Three and Six Months Ended June 30, 2025

    Source: GlobeNewswire (MIL-OSI)

    TEANECK, N.J., July 31, 2025 (GLOBE NEWSWIRE) — Bogota Financial Corp. (NASDAQ: BSBK) (the “Company”), the holding company for Bogota Savings Bank (the “Bank”), reported net income for the three months ended June 30, 2025 of $224,000, or $0.02 per basic and diluted share, compared to a net loss of $432,000, or $0.03 per basic and diluted share, for the comparable prior year period. The Company reported net income for the six months ended June 30, 2025 of $955,000, or $0.08 per basic and diluted share, compared to a net loss of $873,000, or $0.07 per basic and diluted share, for the comparable prior year period. Income for the six months ended June 30, 2025 included a one-time death benefit from the Company’s bank-owned life insurance policy related to a former employee of approximately $543,000.

    Other Financial Highlights:

    • Total assets decreased $49.7 million, or 5.1%, to $921.8 million at June 30, 2025 from $971.5 million at December 31, 2024, due largely to a decrease in cash and cash equivalents and loans.
    • Cash and cash equivalents decreased $31.9 million, or 61.1%, to $20.3 million at June 30, 2025 from $52.2 million at December 31, 2024 due as excess funds were used to pay down borrowings.
    • Securities increased $4.3 million, or 3.1%, to $144.6 million at June 30, 2025 from $140.3 million at December 31, 2024.
    • Net loans decreased $18.5 million, or 2.6%, to $693.2 million at June 30, 2025 from $711.7 million at December 31, 2024, primarily due to decreases in residential mortgages and construction loans.
    • Total deposits at June 30, 2025 were $628.2 million, decreasing $14.0 million, or 2.2%, compared to $642.2 million at December 31, 2024, due to a $11.5 million decrease in certificates of deposit, a $2.8 million decrease in NOW accounts, a $2.3 million decrease in money market accounts and a $2.0 million decrease in noninterest bearing checking accounts. The decreases were offset by a $4.6 million increase in savings accounts. The average rate on deposits decreased 16 basis points to 3.75% for the first half of 2025 from 3.91% for the first half of 2024 due to lower interest rates and a lesser percentage of deposits consisting of higher-costing certificates of deposit.
    • Federal Home Loan Bank advances decreased $36.2 million, or 21.0% to $135.9 million at June 30, 2025 from $172.2 million as of December 31, 2024. The decrease in borrowings was largely attributable to advances that matured during the six months ended June 30, 2025.

    Kevin Pace, President and Chief Executive Officer, said, “The first half of 2025 has fallen in line with our projections. While loan demand has remained steady, we expect an uptick later this year and into early 2026. We remain dedicated to continued growth in our commercial portfolio while ensuring we limit risk to certain markets and property types. Growth in consumer and commercial deposits is another key initiative as we look to reduce cost of funds.”

    “We were able to complete our 5th stock buyback recently. Since the IPO, we have reduced our outstanding shares by 1,653,571 and improved our tangible book value per minority share from $22.04 to $29.10. We continue to focus efforts on improving shareholder value.”

    Income Statement Analysis

    Comparison of Operating Results for the Three Months Ended June 30, 2025 and June 30, 2024

    Net income increased $657,000, or 151.9%, to $224,000 for the three months ended June 30, 2025 from a net loss of $432,000 for the three months ended June 30, 2024. This increase was primarily due to an increase of $951,000 in net interest income, partially offset by a decrease of $229,000 in income tax benefit.

    Interest income increased $31,000, or 0.3%, to $10.5 million for the three months ended June 30, 2025 compared to the three months ended June 30, 2024.

    Interest income on cash and cash equivalents decreased $21,000, or 16.4%, to $106,000 for the three months ended June 30, 2025 from $127,000 for the three months ended June 30, 2024 due to a 164 basis point decrease in the average yield from 5.90% for the three months ended June 30, 2024 to 4.26% for the three months ended June 30, 2025 due to the lower interest rate environment. This was offset by a $1.3 million increase in the average balance to $9.9 million for the three months ended June 30, 2025 from $8.6 million for the three months ended June 30, 2024, reflecting loan and securities repayments, which were offset by a reduction of borrowings.

    Interest income on loans decreased $7,000, or 0.1%, as a seven basis point increase in the yield was offset by a $12.3 million decrease in the average balance of loans.

    Interest income on securities increased $86,000, or 4.6%, due to a 151 basis point increase in the average yield offset by a $44.4 million decrease in the average balance. The changes in the yield and average balance reflect that, in the fourth quarter of 2024, the Company sold approximately $66.0 million in amortized cost ($57.1 million in market value) of securities with a weighted average yield of 1.89% and reinvested $32.7 million of these proceeds into securities with a weighted average yield of 5.60%.

    Interest expense decreased $920,000, or 11.9%, from $7.7 million for the three months ended June 30, 2024 to $6.8 million for the three months ended June 30, 2025 due to lower average balances and costs on deposits and lower balances on borrowings. During the three months ended June 30, 2025, the use of hedges reduced the interest expense on the Federal Home Loan Bank advances and brokered deposits by $186,000. At June 30, 2025, cash flow hedges used to manage interest rate risk had a notional value of $65.0 million, while fair value hedges totaled $60.0 million in notional value. 

    Interest expense on interest-bearing deposits decreased $730,000, or 11.7%, to $5.5 million for the three months ended June 30, 2025 from $6.3 million for the three months ended June 30, 2024. The decrease was due to a 32 basis point decrease in the average cost of deposits to 3.67% for the three months ended June 30, 2025 from 3.99% for the three months ended June 30, 2024. The decrease in the average cost of deposits was due to the lower interest rate environment and a change in the composition of the deposit portfolio. The average balances of certificates of deposit decreased $35.4 million to $482.5 million for the three months ended June 30, 2025 from $517.9 million for the three months ended June 30, 2024 while the average balance of NOW/money market accounts and savings accounts increased $5.6 million and $4.7 million for the three months ended June 30, 2025, respectively, compared to the three months ended June 30, 2024.

    Interest expense on Federal Home Loan Bank advances decreased $190,000, or 12.9%, from $1.5 million for the three months ended June 30, 2024 to $1.3 million for the three months ended June 30, 2025. The decrease was primarily due to a decrease in the average balance of $40.0 million to $130.3 million for the three months ended June 30, 2025 from $170.3 million for the three months ended June 30, 2024. The decrease was offset by an increase in the average cost of borrowings of 47 basis points to 3.96% for the three months ended June 30, 2025 from 3.49% for the three months ended June 30, 2024 due to the new borrowings being shorter durations at higher rates.

    Net interest income increased $951,000, or 34.7%, to $3.7 million for the three months ended June 30, 2025 from $2.7 million for the three months ended June 30, 2024. The increase reflected a 48 basis point increase in our net interest rate spread to 1.20% for the three months ended June 30, 2025 from 0.72% for the three months ended June 30, 2024. Our net interest margin increased 53 basis points to 1.74% for the three months ended June 30, 2025 from 1.21% for the three months ended June 30, 2024.

    We did not record a provision for credit losses for the three months ended June 30, 2025 compared to a $35,000 provision for credit losses for the three-month period ended June 30, 2024.

    Non-interest income increased $29,000, or 9.4%, to $332,000 for the three months ended June 30, 2025 from $303,000 for the three months ended June 30, 2024. Bank-owned life insurance income increased $13,000, or 6.0%, due to higher balances during 2025, which was augmented by an increase in the gain on sale of loans of $9,000 and an increase in fee and service charge income of $11,000. 

    For the three months ended June 30, 2025, non-interest expense increased $129,000, or 3.5%, over the comparable 2024 period. Professional fees increased $112,000, or 43.2%, due to an increase in audit and consulting fees. Occupancy and equipment costs increased $274,000, or 74.6%, as a result of the lease-buyback transaction completed in the fourth quarter of 2024, which resulted in increased lease expense going forward. These were offset by a $83,000, or 3.9%, reduction in salaries and employee benefits, which decreased due to lower headcount, a $99,000, or 86.1%, decrease in advertising expenses and a $78,000, or 29.4%, decrease in other non-interest expense.

    Income tax expense increased $229,000, or 151.9%, to a benefit of $53,000 for the three months ended June 30, 2025 from a $281,000 benefit for the three months ended June 30, 2024. The decrease was due to an increase of $886,000 in net income. 

    Comparison of Operating Results for the Six Months Ended June 30, 2025 and June 30, 2024

    Net income increased by $1.8 million, or 209.4%, to a net income of $955,000 for the six months ended June 30, 2025 from a net loss of $873,000 for the six months ended June 30, 2024. This increase was primarily due to an increase of $1.9 million in net interest income, partially offset by an increase of $488,000 in income tax expense. Income for the six months ended June 30, 2025 included a one-time death benefit of approximately $543,000 from the Company’s bank-owned life insurance policy related to a former employee.

    Interest income increased $893,000, or 4.4%, from $20.5 million for the six months ended June 30, 2024 to $21.4 million for the six months ended June 30, 2025 due to higher yields on interest-earning assets and a decrease in the average balance of interest-earning assets. 

    Interest income on cash and cash equivalents increased $95,000, or 34.4%, to $371,000 for the six months ended June 30, 2025 from $276,000 for the six months ended June 30, 2024 due to a $4.8 million increase in the average balance to $13.3 million for the six months ended June 30, 2025 from $8.5 million for the six months ended June 30, 2024. This was partially offset by 92 basis point decrease in the average yield from 6.50% for the six months ended June 30, 2024 to 5.58% for the six months ended June 30, 2025.

    Interest income on loans increased $387,000, or 2.3%, to $16.9 million for the six months ended June 30, 2025 compared to $16.5 million for the six months ended June 30, 2024 due primarily to a 18 basis point increase in the average yield from 4.64% for the six months ended June 30, 2024 to 4.82% for the six months ended June 30, 2025, offset by a $10.3 million decrease in the average balance to $701.4 million for the six months ended June 30, 2025 from $711.7 million for the six months ended June 30, 2024.

    Interest income on securities increased $390,000, or 11.5%, to $3.8 million for the six months ended June 30, 2025 from $3.4 million for the six months ended June 30, 2024 primarily due to a 143 basis point increase in the average yield from 3.85% for the six months ended June 30, 2024 to 5.28% for the six months ended June 30, 2025, which was offset by a $32.9 million decrease in the average balance to $143.2 million for the six months ended June 30, 2025 from $176.1 million for the six months ended June 30, 2024. The decrease in the average balance and the increase in the yield was as a result of the balance sheet restructuring undertaken in the fourth quarter of 2024, where certain lower-yielding securities were sold, a portion of the proceeds were reinvested into higher-yielding securities and all remaining held to maturity securities were reclassified as available for sale.

    Interest expense decreased $1.0 million, or 6.6%, from $15.1 million for the six months ended June 30, 2024 to $14.1 million for the six months ended June 30, 2025 due to lower average balances on certificates of deposit and borrowings and a lower rate paid on certificates of deposit. During the six months ended June 30, 2025, the use of hedges reduced the interest expense on the Federal Home Loan Bank advances and brokered deposits by $363,000. At June 30, 2025, cash flow hedges used to manage interest rate risk had a notional value of $65.0 million, while fair value hedges totaled $60.0 million in notional value. 

    Interest expense on interest-bearing deposits decreased $938,000, or 7.7%, to $11.3 million for the six months ended June 30, 2025 from $12.2 million for the six months ended June 30, 2024. The decrease was due to a 16 basis point decrease in the average cost of deposits to 3.75% for the six months ended June 30, 2025 from 3.91% for the six months ended June 30, 2024. The decrease in the average cost was driven by a 21 basis point decrease in the average cost of certificates of deposit to 4.13% for the six months ended June 30, 2025 from 4.34% for the six months ended June 30, 2024. The decrease in the average cost of deposits was due to the lower interest rate environment and a change in the composition of the deposit portfolio. The average balances of certificates of deposit decreased $33.8 million to $483.4 million for the six months ended June 30, 2025 from $517.2 million for the six months ended June 30, 2024 while average NOW/money market accounts and savings accounts increased $7.7 million and $3.6 million for the six months ended June 30, 2025, respectively, compared to the six months ended June 30, 2024.

    Interest expense on Federal Home Loan Bank advances decreased $62,000, or 2.1%. The decrease was primarily due to a decrease in the average balance of $16.2 million to $144.1 million for the six months ended June 30, 2025 from $160.3 million for the six months ended June 30, 2024. The decrease was offset by an increase in the average cost of borrowings of 33 basis points to 3.99% for the six months ended June 30, 2025 from 3.66% for the six months ended June 30, 2024 due to the new borrowings being for shorter durations at higher rates. 

    Net interest income increased $1.9 million, or 35.1%, to $7.3 million for the six months ended June 30, 2025 from $5.4 million for the six months ended June 30, 2024. The increase reflected a 47 basis point increase in our net interest rate spread to 1.15% for the six months ended June 30, 2025 from 0.68% for the six months ended June 30, 2024. Our net interest margin increased 50 basis points to 1.70% for the six months ended June 30, 2025 from 1.20% for the six months ended June 30, 2024.

    We recorded a $80,000 recovery of credit losses for the six months ended June 30, 2025 compared to a $70,000 provision for credit losses for the six-month period ended June 30, 2024. The decrease in the allowance for credit losses was due to the decrease in loans and held-to-maturity securities.

    Non-interest income increased $619,000, or 102.7%, to $1.2 million for the six months ended June 30, 2025 from $602,000 for the six months ended June 30, 2024. Bank-owned life insurance income increased $564,000, or 132.0%, due to a death benefit related to a former employee and higher balances during 2025. In addition to the death benefit, gains on sale of loans also increased by $38,000 when compared to the comparable period in 2024.

    For the six months ended June 30, 2025, non-interest expense increased $345,000, or 4.7%, over the comparable 2024 period. Professional fees increased $114,000, or 25.0%, due to higher audit and consulting expense. Occupancy and equipment costs increased $574,000, or 77.8%, as a result of the lease-buyback transaction completed in the fourth quarter of 2024, which resulted in increased lease expense going forward. These were offset by a $162,000, or 3.8%, reduction in salaries and employee benefit, which decreased due to lower headcount, advertising expense, which decreased by $104,000, or 46.0%, and other non-interest expense, which decreased $102,000, or 20.0%.

    Income tax expense increased $488,000, or 85.8%, to a benefit of $81,000 for the six months ended June 30, 2025 from a $568,000 benefit for the six months ended June 30, 2024. The decrease was due to an increase of $2.3 million in income. 

    Balance Sheet Analysis

    Total assets were $921.8 million at June 30, 2025, representing a decrease of $49.7 million, or 5.1%, from December 31, 2024. Cash and cash equivalents decreased $31.9 million during the period primarily due to the paydown of borrowings. Net loans decreased $18.5 million, or 2.6%, due to $32.0 million in repayments, partially offset by new production of $15.5 million. This resulted in a $14.5 million decrease in the balance of residential loans and a $17.4 million decrease in construction loans, offset by a $7.3 million and $8.0 million of commercial real estate and multi-family loans, respectively. Due to the interest rate environment, we have seen a decrease in demand for residential and construction loans, which have been primary drivers of our loan growth in recent periods. Securities available for sale increased $4.3 million or 3.1%, due to new purchases of mortgage-backed securities. 

    Delinquent loans increased $6.1 million to $20.4 million, or 2.94% of total loans, at June 30, 2025, compared to $14.3 million at December 31, 2024. The increase was primarily due to one commercial real estate loan with a balance of $7.1 million, which is considered well-secured, accruing and in the process of collection. During the same timeframe, non-performing assets decreased from $14.0 million at December 31, 2024 to $13.9 million, which represented 1.50% of total assets at June 30, 2025. No loans were charged-off during the three or six months ended June 30, 2025 or June 30, 2024. The Company’s allowance for credit losses related to loans was 0.37% of total loans and 18.69% of non-performing loans at June 30, 2025 compared to 0.37% of total loans and 18.77% of non-performing loans at December 31, 2024. The Bank does not have any exposure to commercial real estate loans secured by office space. At June 30, 2025, the Company had no allowance for credit losses related to held-to-maturity securities, as the Company did not hold any held-to-maturity securities at June 30, 2025 or at December 31, 2024. 

    Total liabilities decreased $50.8 million, or 6.1%, to $783.4 million mainly due to a $13.9 million decrease in deposits and by a $36.2 million decrease in borrowings. Total deposits decreased $14.0 million, or 2.2%, to $628.2 million at June 30, 2025 from $642.2 million at December 31, 2024. The decrease in deposits reflected a decrease in certificate of deposit accounts, which decreased by $11.5 million to $481.8 million from $493.3 million at December 31, 2024, a decrease in NOW deposit accounts, which decreased by $2.8 million to $52.6 million from $55.4 million at December 31, 2024, a decrease in money market deposit accounts, which decreased by $2.3 million to $11.7 million from $14.0 million at December 31, 2024, and by a decrease in noninterest bearing demand accounts, which decreased by $2.0 million from $32.7 million at December 31, 2024 to $30.7 million at June 30, 2025. At June 30, 2025, brokered deposits were $108.0 million or 17.2% of deposits and municipal deposits were $25.4 million or 4.1% of deposits. At June 30, 2025, uninsured deposits represented 9.1% of the Bank’s total deposits. Federal Home Loan Bank advances decreased $36.2 million, or 21.0%, due to paydown of existing borrowings. Short-term borrowings increased $10.5 million, or 35.6%, to $40.0 million at June 30, 2025 from $29.5 million at December 31, 2024, while long-term borrowings decreased $46.7 million, or 32.8%, to $95.9 million at June 30, 2025 from $142.7 million at December 31, 2024. Total borrowing capacity at the Federal Home Loan Bank is $241.3 million of which $139.0 million has been advanced.

    Total stockholders’ equity increased $1.2 million to $138.4 million, primarily due to net income of $955,000. At June 30, 2025, the Company’s ratio of average stockholders’ equity-to-total assets was 14.96%, compared to 13.99% at December 31, 2024.

    About Bogota Financial Corp.

    Bogota Financial Corp. is a Maryland corporation organized as the mid-tier holding company of Bogota Savings Bank and is the majority-owned subsidiary of Bogota Financial, MHC. Bogota Savings Bank is a New Jersey chartered stock savings bank that has served the banking needs of its customers in northern and central New Jersey since 1893. It operates from seven offices located in Bogota, Hasbrouck Heights, Upper Saddle River, Newark, Oak Ridge, Parsippany and Teaneck, New Jersey and operates a loan production office in Spring Lake, New Jersey.

    Forward-Looking Statements

    This press release contains certain forward-looking statements about the Company and the Bank. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, inflation, general economic conditions or conditions within the securities markets, the imposition of tariffs or other domestic or international governmental policies and retaliatory responses, real estate market values in the Bank’s lending area, changes in liquidity, including the size and composition of our deposit portfolio and the percentage of uninsured deposits in the portfolio; the availability of low-cost funding; our continued reliance on brokered and municipal deposits; demand for loans in our market area; changes in the quality of our loan and security portfolios, economic assumptions or changes in our methodology, either of which may impact our allowance for credit losses calculation, increases in non-performing and classified loans, monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System, a failure in or breach of the Company’s operational or security systems or infrastructure, including cyberattacks, the failure to maintain current technologies, failure to retain or attract employees and legislative, accounting and regulatory changes that could adversely affect the business in which the Company and the Bank are engaged.

    The Company undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release.

    BOGOTA FINANCIAL CORP.
    CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
    (unaudited)
                 
        As of     As of  
        June 30,
    2025    		     December 31,
    2024    		  
    Assets                
    Cash and due from banks   $ 9,471,838     $ 18,020,527  
    Interest-bearing deposits in other banks     10,861,717       34,211,681  
    Cash and cash equivalents     20,333,555       52,232,208  
    Securities available for sale, at fair value     144,602,468       140,307,447  
    Loans, net of allowance for credit losses of $2,590,950 and $2,620,949, respectively     693,211,303       711,716,236  
    Premises and equipment, net     4,561,786       4,727,302  
    Federal Home Loan Bank (FHLB) stock and other restricted securities     7,204,900       8,803,000  
    Accrued interest receivable     4,225,196       4,232,563  
    Core deposit intangibles     129,255       152,893  
    Bank-owned life insurance     31,329,401       31,859,604  
    Right of use asset     10,506,417       10,776,596  
    Other assets     5,730,379       6,682,035  
    Total Assets   $ 921,834,660     $ 971,489,884  
    Liabilities and Equity                
    Non-interest bearing deposits   $ 30,696,810     $ 32,681,963  
    Interest bearing deposits     597,532,976       609,506,079  
    Total deposits     628,229,786       642,188,042  
    FHLB advances-short term     40,000,000       29,500,000  
    FHLB advances-long term     95,944,439       142,673,182  
    Advance payments by borrowers for taxes and insurance     3,223,479       2,809,205  
    Lease liabilities     10,579,107       10,780,363  
    Other liabilities     5,418,148       6,249,932  
    Total liabilities     783,394,959       834,200,724  
                     
    Stockholders’ Equity                
    Preferred stock $0.01 par value 1,000,000 shares authorized, none issued and outstanding at June 30, 2025 and December 31, 2024     —       —  
    Common stock $0.01 par value, 30,000,000 shares authorized, 13,008,389 issued and outstanding at June 30, 2025 and 13,059,175 at December 31, 2024     130,083       130,592  
    Additional paid-in capital     55,260,550       55,269,962  
    Retained earnings     90,961,990       90,006,648  
    Unearned ESOP shares (369,670 shares at June 30, 2025 and 382,933 shares at December 31, 2024)     (4,369,992 )     (4,520,594 )
    Accumulated other comprehensive loss     (3,542,930 )     (3,597,448 )
    Total stockholders’ equity     138,439,701       137,289,160  
    Total liabilities and stockholders’ equity   $ 921,834,660     $ 971,489,884  
    BOGOTA FINANCIAL CORP.
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (unaudited)
                 
        Three Months Ended     Six Months Ended  
        June 30,     June 30,  
        2025     2024     2025     2024  
    Interest income                                
    Loans, including fees   $ 8,291,923     $ 8,299,404     $ 16,895,052     $ 16,506,796  
    Securities                                
    Taxable     1,943,360       1,846,717       3,773,754       3,363,060  
    Tax-exempt     2,894       13,124       5,789       26,272  
    Other interest-earning assets     266,987       314,964       754,158       639,268  
    Total interest income     10,505,164       10,474,209       21,428,753       20,535,396  
    Interest expense                                
    Deposits     5,524,138       6,253,895       11,286,462       12,223,776  
    FHLB advances     1,286,421       1,476,600       2,854,448       2,916,669  
    Total interest expense     6,810,559       7,730,495       14,140,910       15,140,445  
    Net interest income     3,694,605       2,743,714       7,287,843       5,394,951  
    (Recovery) provision for credit losses     —       35,000       (80,000 )     70,000  
    Net interest income after (recovery) provision for credit losses     3,694,605       2,708,714       7,367,843       5,324,951  
    Non-interest income                                
    Fees and service charges     59,755       49,203       115,574       107,790  
    Gain on sale of loans     8,768       —       37,830       —  
    Bank-owned life insurance     228,392       215,056       990,623       427,015  
    Other     34,795       38,945       77,055       67,477  
    Total non-interest income     331,710       303,204       1,221,082       602,282  
    Non-interest expense                                
    Salaries and employee benefits     2,059,942       2,143,388       4,140,141       4,301,953  
    Occupancy and equipment     640,444       366,908       1,311,913       738,025  
    FDIC insurance assessment     103,934       106,716       210,520       207,313  
    Data processing     305,034       318,520       620,731       622,125  
    Advertising     16,000       115,100       121,500       225,200  
    Director fees     170,812       151,549       330,256       307,249  
    Professional fees     372,364       260,112       571,094       456,897  
    Other     185,972       263,490       408,017       510,112  
    Total non-interest expense     3,854,502       3,725,783       7,714,172       7,368,874  
    Income (loss) before income taxes     171,813       (713,865 )     874,753       (1,441,641 )
    Income tax benefit     (52,582 )     (281,386 )     (80,589 )     (568,182 )
    Net income (loss)   $ 224,395     $ (432,479 )   $ 955,342     $ (873,459 )
    Earnings (loss) per Share – basic   $ 0.02     $ (0.03 )   $ 0.08     $ (0.07 )
    Earnings (loss) per Share – diluted   $ 0.02     $ (0.03 )   $ 0.08     $ (0.07 )
    Weighted average shares outstanding – basic     12,635,990       12,803,925       12,642,744       12,828,428  
    Weighted average shares outstanding – diluted     12,641,179       12,803,925       12,644,701       12,828,428  
    BOGOTA FINANCIAL CORP.
    SELECTED RATIOS
    (unaudited)
                 
        At or For the Three Months     At or for the Six Months  
        Ended June 30,     Ended June 30,  
        2025     2024     2025     2024  
    Performance Ratios (1):                                
    Return (loss) on average assets (2)     0.02 %     (0.18 )%     0.10 %     (0.18 )%
    Return (loss) on average equity (3)     0.16 %     (1.32 )%     0.10 %     (1.32 )%
    Interest rate spread (4)     1.20 %     0.72 %     1.15 %     0.68 %
    Net interest margin (5)     1.74 %     1.21 %     1.70 %     1.20 %
    Efficiency ratio (6)     95.73 %     122.28 %     90.66 %     122.87 %
    Average interest-earning assets to average interest-bearing liabilities     116.49 %     114.12 %     115.24 %     114.56 %
    Net loans to deposits     110.34 %     109.02 %     110.34 %     109.02 %
    Average equity to average assets (7)     15.02 %     13.48 %     14.88 %     14.71 %
    Capital Ratios:                                
    Tier 1 capital to average assets                     15.32 %     13.52 %
    Asset Quality Ratios:                                
    Allowance for credit losses as a percent of total loans                     0.37 %     0.39 %
    Allowance for credit losses as a percent of non-performing loans                     18.69 %     21.20 %
    Net charge-offs to average outstanding loans during the period                     0.00 %     0.00 %
    Non-performing loans as a percent of total loans                     2.00 %     1.82 %
    Non-performing assets as a percent of total assets                     1.50 %     1.33 %
    (1 ) Certain performance ratios for the three and six months ended June 30, 2025 and 2024 are annualized.
    (2 ) Represents net income (loss) divided by average total assets.
    (3 ) Represents net income (loss) divided by average stockholders’ equity.
    (4 ) Represents the difference between the weighted average yield on average interest-earning assets and the weighted average cost of average interest-bearing liabilities. Tax exempt income is reported on a tax equivalent basis using a combined federal and state marginal tax rate of 27.5% for 2025 and 2024.
    (5 ) Represents net interest income as a percent of average interest-earning assets. Tax exempt income is reported on a tax equivalent basis using a combined federal and state marginal tax rate of 27.5% for 2025 and 2024.
    (6 ) Represents non-interest expenses divided by the sum of net interest income and non-interest income.
    (7 ) Represents average stockholders’ equity divided by average total assets.


    LOANS

    Loans are summarized as follows at June 30, 2025 and December 31, 2024:

        June 30,     December 31,  
        2025     2024  
        (unaudited)  
    Real estate:                
    Residential First Mortgage   $ 458,212,962     $ 472,747,542  
    Commercial Real Estate     125,349,129       118,008,866  
    Multi-Family Real Estate     82,118,178       74,152,418  
    Construction     25,766,387       43,183,657  
    Commercial and Industrial     4,282,269       6,163,747  
    Consumer     73,328       80,955  
    Total loans     695,802,253       714,337,185  
    Allowance for credit losses     (2,590,950 )     (2,620,949 )
    Net loans   $ 693,211,303     $ 711,716,236  

    The following tables set forth the distribution of total deposit accounts, by account type, at the dates indicated:

        At June 30,     At December 31,  
        2025     2024  
        Amount     Percent     Average Rate     Amount     Percent     Average Rate  
                                                     
        (unaudited)  
    Noninterest bearing demand accounts   $ 30,696,810       4.89 %     — %   $ 32,681,963       5.09 %     — %
    NOW accounts     52,611,377       8.37 %     2.64       55,378,051       8.62 %     2.53  
    Money market accounts     11,677,716       1.86 %     0.48       13,996,460       2.18 %     0.58  
    Savings accounts     51,419,664       8.18 %     2.02       46,851,793       7.30 %     1.90  
    Certificates of deposit     481,824,219       76.70 %     3.88       493,279,775       76.81 %     4.37  
    Total   $ 628,229,786       100.00 %     3.37 %   $ 642,188,042       100.00 %     3.42 %


    Average Balance Sheets and Related Yields and Rates

    The following tables present information regarding average balances of assets and liabilities, the total dollar amounts of interest income and dividends from average interest-earning assets, the total dollar amounts of interest expense on average interest-bearing liabilities, and the resulting annualized average yields and costs. The yields and costs for the periods indicated are derived by dividing income or expense by the average balances of assets or liabilities, respectively, for the periods presented. Average balances have been calculated using daily balances. Nonaccrual loans are included in average balances only. Loan fees are included in interest income on loans and are not material.

        Three Months Ended June 30,  
        2025     2024  
        Average Balance     Interest and Dividends     Yield/ Cost     Average Balance     Interest and Dividends     Yield/ Cost  
        (Dollars in thousands)  
    Assets:   (unaudited)  
    Cash and cash equivalents   $ 9,976     $ 106       4.26 %   $ 8,644     $ 127       5.90 %
    Loans     697,792       8,292       4.77 %     710,058       8,299       4.70 %
    Securities     141,141       1,946       5.52 %     185,497       1,860       4.01 %
    Other interest-earning assets     7,085       161       9.09 %     8,689       188       8.66 %
    Total interest-earning assets     855,994       10,505       4.92 %     912,888       10,474       4.61 %
                                                     
    Non-interest-earning assets     65,094                       58,933                  
    Total assets   $ 921,088                     $ 971,821                  
    Liabilities and equity:                                                
    NOW and money market accounts   $ 73,261     $ 447       2.44 %   $ 67,687     $ 329       1.96 %
    Savings accounts     48,751       249       2.05 %     44,093       205       1.87 %
    Certificates of deposit (1)     482,516       4,828       4.01 %     517,882       5,720       4.44 %
    Total interest-bearing deposits     604,528       5,524       3.67 %     629,662       6,254       3.99 %
                                                     
    Federal Home Loan Bank advances (1)     130,277       1,286       3.96 %     170,295       1,476       3.49 %
    Total interest-bearing liabilities     734,805       6,810       3.72 %     799,957       7,730       3.89 %
    Non-interest-bearing deposits     32,076                       39,162                  
    Other non-interest-bearing liabilities     15,894                       1,654                  
    Total liabilities     782,775                       840,773                  
                                                     
    Total equity     138,313                       131,048                  
    Total liabilities and equity   $ 921,088                     $ 971,821                  
    Net interest income           $ 3,695                     $ 2,744          
    Interest rate spread (2)                     1.20 %                     0.72 %
    Net interest margin (3)                     1.74 %                     1.21 %
    Average interest-earning assets to average interest-bearing liabilities     116.49 %                     114.12 %                
    1. Cash flow and fair value hedges are used to manage interest rate risk. During the three months ended June 30, 2025 and 2024, the net effect on interest expense on the Federal Home Loan Bank advances and certificates of deposit was a reduced expense of $186,000 and $461,000, respectively.
    2. Interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities.
    3. Net interest margin represents net interest income divided by average total interest-earning assets.
        Six Months Ended June 30,  
        2025     2024  
        Average Balance     Interest and Dividends     Yield/ Cost     Average Balance     Interest and Dividends     Yield/ Cost  
        (Dollars in thousands)  
    Assets:                                                
    Cash and cash equivalents   $ 13,270     $ 371       5.58 %   $ 8,505     $ 276       6.50 %
    Loans     701,423       16,894       4.82 %     711,744       16,507       4.64 %
    Securities     143,199       3,779       5.28 %     176,081       3,389       3.85 %
    Other interest-earning assets     7,692       384       9.97 %     8,395       363       8.65 %
    Total interest-earning assets     865,584       21,428       4.95 %     904,725       20,535       4.54 %
    Non-interest-earning assets     61,323                       59,313                  
    Total assets   $ 926,907                     $ 964,038                  
    Liabilities and equity:                                                
    NOW and money market accounts   $ 76,313     $ 904       2.39 %   $ 68,569     $ 664       1.95 %
    Savings accounts     47,299       475       2.02 %     43,720       403       1.85 %
    Certificates of deposit (1)     483,380       9,907       4.13 %     517,189       11,157       4.34 %
    Total interest-bearing deposits     606,992       11,286       3.75 %     629,478       12,224       3.91 %
    Federal Home Loan Bank advances (1)     144,120       2,854       3.99 %     160,282       2,916       3.66 %
    Total interest-bearing liabilities     751,112       14,140       3.80 %     789,760       15,140       3.86 %
    Non-interest-bearing deposits     32,425                       38,425                  
    Other non-interest-bearing liabilities     5,420                       2,763                  
    Total liabilities     788,957                       830,948                  
    Total equity     137,950                       133,090                  
    Total liabilities and equity   $ 926,907                     $ 964,038                  
    Net interest income           $ 7,288                     $ 5,395          
    Interest rate spread (2)                     1.15 %                     0.68 %
    Net interest margin (3)                     1.70 %                     1.20 %
    Average interest-earning assets to average interest-bearing liabilities     115.24 %                     114.56 %                
    1. Cash flow hedges are used to manage interest rate risk. During the six months ended June 30, 2025 and 2024, the net effect on interest expense on the Federal Home Loan Bank advances and certificates of deposit was a reduced expense of $363,000 and $749,000, respectively.
       
    2. Interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities.
       
    3. Net interest margin represents net interest income divided by average total interest-earning assets


    Rate/Volume Analysis

    The following table sets forth the effects of changing rates and volumes on net interest income. The rate column shows the effects attributable to changes in rate (changes in rate multiplied by prior volume). The volume column shows the effects attributable to changes in volume (changes in volume multiplied by prior rate). The net column represents the sum of the prior columns. Changes attributable to changes in both rate and volume that cannot be segregated have been allocated proportionally based on the changes due to rate and the changes due to volume.

        Three Months Ended June 30, 2025     Six Months Ended June 30, 2025  
        Compared to     Compared to  
        Three Months Ended June 30, 2024     Six Months Ended June 30, 2024  
        Increase (Decrease) Due to     Increase (Decrease) Due to  
        Volume     Rate     Net     Volume     Rate     Net  
        (In thousands)  
    Interest income:   (unaudited)  
    Cash and cash equivalents   $ 94     $ (114 )   $ (21 )   $ 201     $ (106 )   $ 95  
    Loans receivable     (534 )     526       (7 )     (592 )     979       387  
    Securities     (2,142 )     2,228       86       (1,554 )     1,944       390  
    Other interest earning assets     (80 )     53       (27 )     (71 )     92       21  
    Total interest-earning assets     (2,662 )     2,693       31       (2,017 )     2,910       893  
                                                     
    Interest expense:                                                
    NOW and money market accounts     29       89       118       79       161       240  
    Savings accounts     23       21       44       34       38       72  
    Certificates of deposit     (368 )     (524 )     (892 )     (718 )     (532 )     (1,250 )
    Federal Home Loan Bank advances     (1,138 )     948       (190 )     (591 )     529       (62 )
    Total interest-bearing liabilities     (1,454 )     534       (920 )     (1,197 )     197       (1,000 )
    Net (decrease) increase in net interest income   $ (1,208 )   $ 2,159     $ 951     $ (820 )   $ 2,713     $ 1,893  

    Contacts
    Kevin Pace – President & CEO, 201-862-0660 ext. 1110

    The MIL Network –

  • MIL-OSI: Intchains Expands Collaboration with FalconX to Optimize ETH Acquisition and Enhance Yield

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, July 31, 2025 (GLOBE NEWSWIRE) —  Intchains Group Limited (Nasdaq: ICG) (“we,” or the “Company”), a company engaged in the provision of altcoin mining products, strategic acquisition and holding of Ethereum-based cryptocurrencies, and active development of innovative Web3 applications, today announced that it is collaborating with FalconX, the largest digital asset prime brokerage for institutional investors, to expand the Company’s ETH digital asset treasury. The collaboration aims to enhance ETH acquisition efficiency and explore potential return enhancements through a structured ETH yield strategy, subject to market conditions and risk considerations.

    The cooperation focuses on two key aspects:

    Optimized ETH Acquisition: FalconX will implement customized derivatives-based trading strategies such as funded put selling for Intchains, which may enable the Company to acquire ETH while potentially generating premium income.

    ETH Yield Enhancement Strategy: FalconX’s platform will enable Intchains to pursue yield generation on its ETH holdings through a combination of lending and derivatives-based strategies, with the goal of improving returns relative to Intchain’s current passive ETH accumulation and staking approach. Based on preliminary modeling, Intchains annualized yield on its ETH holdings could be as high as 10%.

    Mr. Qiang Ding, Chairman of the Board of Directors and Chief Executive Officer of Intchains, commented, “We are excited to strengthen our collaboration with FalconX aiming to enhance our ETH accumulation strategy and boost overall yield performance. Through this initiative, we expect to achieve lower ETH acquisition costs and higher yields, further reinforcing ICG’s leading position in ETH holding while delivering stronger financial results. We remain committed to our long-term dollar-cost-averaging ETH strategy and believe the FalconX platform will be a trusted partner as we continue to build our ETH position.”

    About FalconX
    FalconX provides comprehensive solutions for institutional digital asset strategies, serving over 600 clients globally. As of December 31, 2024, the platform has facilitated over $1.5 trillion in trading volume.

    About Intchains Group Limited
    Intchains Group Limited is a company that engages in the provision of altcoin mining products, the strategic acquisition and holding of Ethereum-based cryptocurrencies, and the active development of innovative Web3 applications. For more information, please visit the Company’s website at: https://intchains.com/.

    Forward-Looking Statements
    Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Forward-looking statements include, but are not limited to, statements about: (i) our goals and strategies; (ii) our future business development, formed condition and results of operations; (iii) expected changes in our revenue, costs or expenditures; (iv) growth of and competition trends in our industry; (v) our expectations regarding demand for, and market acceptance of, our products; (vi) general economic and business conditions in the markets in which we operate; (vii) relevant government policies and regulations relating to our business and industry; (viii) fluctuations in the market price of ETH-based cryptocurrencies; gains or losses from the sale of ETH-based cryptocurrencies; changes in accounting treatment for the Company’s ETH-based cryptocurrencies holdings; a decrease in liquidity in the markets in which ETH-based cryptocurrencies are traded; security breaches, cyberattacks, unauthorized access, loss of private keys, fraud, or other events leading to the loss of the Company’s ETH-based cryptocurrencies; impacts to the price and rate of adoption of ETH-based cryptocurrencies associated with financial difficulties and bankruptcies of various participants in the industry; and (viii) assumptions underlying or related to any of the foregoing. Investors can identify these forward-looking statements by words or phrases such as “may,” “could,” “will,” “should,” “would,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “project” or “continue” or the negative of these terms or other comparable terminology. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

    For investor and media inquiries, please contact:

    Intchains Group Limited
    Investor relations
    Email: ir@intchains.com

    The Equity Group
    Lena Cati, Senior Vice President
    212-836-9611 / lcati@theequitygroup.com

    Alice Zhang, Associate
    212-836-9610 / azhang@theequitygroup.com   

    The MIL Network –

  • MIL-OSI: U.S. Drone Market Outlook and Competitive Landscape Becoming a Sector Poised for Prosperous Expansion

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., July 31, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Recently, drone market insiders, have issued very optimistic reviews on where the U.S. drone market is heading. Industry observers note that this legislative backing de-risks investment in defense and dual-use drone companies, making them more attractive to institutional investors and venture firms alike. The new funding is poised to expand domestic manufacturing capabilities, support R&D in autonomy and AI, and reward companies prepared to operate within the tightened regulatory and sourcing frameworks. On such report from Dronelife.com said: “Compare the U.S. surge in drone investment to the investment contraction and global market realignment that Drone Industry Insights (DRONEII), reported on just a few months ago. The earlier DRONEII report underscores the U.S. government’s legislative actions as especially impactful, setting the pace for global realignment and influencing investment priorities worldwide. The direct result of these policy moves has been an influx of both venture and public market investment into U.S.-aligned drone companies. Companies such as Firestorm Labs and Unusual Machines have openly referenced the “clear demand signals” coming from Washington in their fundraising releases. Meanwhile, market analysis on platforms like Nasdaq and Investing.com track a sector-wide uptick in share prices and capital-infused balance sheets in July 2025 alone.”   Active Companies in the drone industries include ZenaTech, Inc. (NASDAQ: ZENA), Teledyne Technologies Incorporated (NYSE: TDY), ParaZero Technologies Ltd. (NASDAQ: PRZO), Safe Pro Group Inc. (NASDAQ: SPAI), Arbe Robotics Ltd. (NASDAQ: ARBE).

    The article continued discussing how legislative backing is a growth catalyst saying: “The strengthened investment environment for U.S. drone companies in the summer of 2025 is a direct response to aggressive legislative and executive action. As enhanced procurement mandates and funding priorities solidify, companies with domestic manufacturing capabilities and compliance adherence are best positioned to benefit. This unique interplay of policy and market forces is not only revitalizing the American drone industrial base but is also driving a more resilient, innovation-focused sector poised for further expansion.”

    ZenaTech (NASDAQ:ZENA) ZenaDrone Initiates AUVSI Membership Upgrade, Enabling Leadership on Drone Policy and Strengthening US Defense and Government Engagement – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a business technology solution provider specializing in AI (Artificial Intelligence) drones, Drone as a Service (DaaS), Enterprise SaaS, and Quantum Computing solutions, today announces its drone subsidiary ZenaDrone has initiated upgrading its membership to the Advocacy level with the influential Association for Uncrewed Vehicle Systems International (AUVSI), enabling it to join both the Defense Advocacy Committee and Air Advocacy Committee. This upgrade enables the company to engage alongside top US drone and defense innovators, such as Skydio, Anduril, Leidos and Shield AI, to elevate its leadership role in shaping critical drone policy and procurement as well as deepening relationships with important stakeholders and decisionmakers.

    “This is a clear investment in speed to market and long-term procurement success,” said Shaun Passley, Ph.D., ZenaTech CEO. “By joining AUVSI’s Defense and Air Advocacy Committees, ZenaDrone gains direct access to the policy, compliance, and acquisition conversations that shape Department of Defense agency procurement. It positions us alongside trusted defense leaders and innovators, accelerating our path to Green and Blue UAS certification by strengthening our ability to meet the security, interoperability, and regulatory expectations of federal buyers and leverage growth opportunities.”

    Through an upgraded Advocacy membership, ZenaDrone will be able to collaborate with AUVSI’s network of industry leaders and regulators to influence federal drone policies and shape the future of the drone industry in the US. This participation provides direct access to federal decision-makers, enabling influence on key policy areas such as BVLOS (Beyond Visual Line of Sight) regulation and streamlined procurement, while ensuring the company’s drone platforms remain aligned with the evolving operational needs and priorities of US defense and government agencies.

    This involvement comes at a pivotal time, as recent Executive Orders and policy directives from the White House and Department of Defense accelerate support for NDAA-compliant, secure, and domestically produced drone technologies. These directives now move toward implementation, requiring practical policy frameworks and procurement processes—an area where ZenaDrone aims to contribute meaningfully.

    Founded in 1972, AUVSI is the largest nonprofit advancing uncrewed and autonomous systems through innovation, policy, and collaboration. It connects government, industry, and academia to drive safe, efficient integration of emerging technologies. The Air Advocacy Committee shapes policies to expand drone operations in national airspace, while the Defense Advocacy Committee influences defense acquisition policies and promotes NDAA-compliant drone technology. Continued… Read this full release by visiting: https://www.financialnewsmedia.com/news-zena/

    Other recent developments in the markets include:

    Teledyne FLIR Defense, part of Teledyne Technologies Incorporated (NYSE: TDY), recently announced the winners of the 30th Annual ‘FLIR Vision Awards’ at the APSCON 2025 Conference in Phoenix, Arizona.

    The FLIR Vision Awards are presented to members of the airborne law enforcement community who have best demonstrated use of thermal imaging systems in carrying out their missions, whether conducting search and rescue efforts, pursuing suspects, or saving lives in other ways. The awards are divided into four categories, including the FANG Award for operations involving a K-9 support team.

    ParaZero Technologies Ltd. (NASDAQ: PRZO) recently announced the launch of its latest product, the SafeAir Raptor. This latest and innovative safety system is specifically engineered for compatibility with Anzu Robotics’ Raptor and Raptor T (thermal) drone models.

    The SafeAir Raptor offers performance capabilities akin to ParaZero’s acclaimed SafeAir Mavic 3 System, providing autonomous monitoring and real-time failure detection to ensure optimal safety during drone operations. Notably, the SafeAir Raptor complies with ASTM F3322-22 standards, making it eligible for operations over people in accordance with Federal Aviation Administration (FAA) regulations.

    Safe Pro Group Inc. (NASDAQ: SPAI), a leader in artificial intelligence (AI)-powered defense and security solutions, recently announced that it has been selected by the U.S. Army to participate in the Army Futures Command’s (AFC) Concept Focused Warfighting Experiment (CFWE) Maneuver (CFWE-M) 2026 event being held at Fort Benning, Georgia in March through April 2026.

    Army Futures Command, established in 2018, helps ensure the Army and its soldiers remain at the forefront of technological innovation and warfighting ability. The CFWE-M is a live and constructive simulation experiment held annually by the U.S. Army and serves as the primary venue for experimentation focusing on the small unit level. CFWE-M supports small unit modernization by providing Cross Function Teams (CFT), Centers of Excellence (CoE) capability developers, Science and Technology (S&T) community, and industry an opportunity to collaborate with the Army.

    Arbe Robotics Ltd. (NASDAQ: ARBE) recently announced that Sensrad, a leading radar Tier-1 supplier based in Sweden, has begun delivering its first radar series powered by Arbe’s chipset to customers. These radars are destined for deployment in a defense sector autonomous off-road vehicle application and in an intelligent road infrastructure project.

    Sensrad recently placed a significant purchase order for Arbe chipsets, a key step toward the commercialization of its radar solutions. These chipsets will be used in multiple programs, including an initiative involving autonomous vehicles for off-road applications for a strategic US customer in the defense sector, the China-based Tianyi Transportation project, and several customer evaluations. Sensrad’s progress reflects its growing commitment to expanding radar adoption across diverse verticals beyond traditional passenger automotive markets.

    To accelerate the deployment Arbe and Sensrad have signed a comprehensive support and maintenance agreement to reinforce Sensrad’s 4D Imaging Radar program built on Arbe’s advanced chipset technology. Under the terms of the agreement, Sensrad will pay Arbe a recurring fee for continued support, maintenance, and professional services.

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