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Category: Banking

  • MIL-OSI: Management changes in the Nykredit Group – Nykredit Bank A/S

    Source: GlobeNewswire (MIL-OSI)

    Company announcement

    Management changes in the Nykredit Group
    In connection with Spar Nord Bank A/S becoming part of the Nykredit Group, changes are expected to be made to the boards of directors and executive managements of the companies in the Nykredit Group.

    Lasse Nyby to become Deputy Chairman of Nykredit A/S and Nykredit Realkredit A/S
    On Monday, 2 June, 2025, a general meeting in Nykredit Realkredit A/S is expected to be convened, to be held on 24 June, 2025, at which it is proposed that Lasse Nyby – the current CEO of Spar Nord Bank A/S – joins the Board of Directors of Nykredit Realkredit A/S. Lasse Nyby will continue on the Board of Directors of Nykredit A/S, which he has been a member of since 2007. Lasse Nyby is expected to be appointed Deputy Chairman of the two boards at the following board meetings.

    Preben Sunke will continue as Deputy Chairman of Nykredit A/S and Nykredit Realkredit A/S, and as such, going forward, there will be two deputy chairmen of the boards of directors of those two companies.

    Nykredit A/S and Nykredit Realkredit A/S are the ultimate parent companies in the Nykredit Group’s corporate structure. The Nykredit Group’s business activities are based in Nykredit Realkredit A/S, and the activities are conducted both through Nykredit Realkredit A/S and the group subsidiaries. Nykredit Realkredit A/S is wholly owned by Nykredit A/S, whose sole purpose is to own Nykredit Realkredit A/S.

    Nykredit’s Group Executive Board to be expanded with Martin Kudsk Rasmussen
    The Group Executive Board of Nykredit Realkredit A/S is expected to be expanded on 24 June, 2025, with the addition of Martin Kudsk Rasmussen, who has up until now been a member of the Executive Management of Spar Nord Bank A/S. Together with current Group Executive Director, Tonny Thierry Andersen, Martin Kudsk Rasmussen will be responsible for the entire Banking area in the Nykredit Group. The responsibilities of the remaining members of the Group Executive Board remain unchanged.

    The Group Executive Board of Nykredit Realkredit A/S will then consist of Group Chief Executive, Michael Rasmussen and the Group Executive Directors; Anders Jensen, David Hellemann, Martin Kudsk Rasmussen, Pernille Sindby and Tonny Thierry Andersen.

    Regarding the changes to the Board of Directors and the Group Executive Board, Merete Eldrup, Chairman of the Board of Directors of Nykredit A/S and Nykredit Realkredit A/S, states:

    “With his extensive management experience and solid insight into the financial sector, Lasse Nyby is already a key capacity of the Board of Directors of Nykredit A/S. Now he will also join the Board of Directors of Nykredit Realkredit A/S and will on both boards take a prominent role as Deputy Chairman. I look forward to that. The Board of Directors is also pleased to add Martin Kudsk Rasmussen to the Group Executive Board of Nykredit. Martin has significant competencies and experience from the financial sector, and during his time at Spar Nord, he has been an important factor in Spar Nord’s impressive development.

    With Spar Nord as part of the Nykredit Group, we will show even more customers the benefits of a customer-owned bank that takes a different position in the market. At the same time, we maintain a strong focus on continuing to invest in our partnerships in Totalkredit and other partnerships. Myself and the Board of Directors look forward to continuing this work together with the Group Executive Board based on the direction that the group’s ’Winning the Double’ strategy continues to set.”

    Group Chief Executive, Michael Rasmussen states:
    “I look forward to continuing the good cooperation with Lasse Nyby in his new position on the Board of Directors. I am also pleased to welcome Martin Kudsk Rasmussen to the Group Executive Board. Throughout his career, Martin has demonstrated that he possesses significant competencies in the banking area. We are now joining forces as two strong banks that are both experiencing growth, customer inflows and high customer satisfaction to make us even stronger in the competition with the largest listed banks. Tonny Thierry Andersen and Martin Kudsk Rasmussen will play an important managerial role in building on the key strengths of both Spar Nord and Nykredit across the combined and – with Spar Nord as part of the group – significantly larger Banking area of the Nykredit Group.”

    About his new role as Deputy Chairman of the boards of directors of Nykredit Realkredit A/S and Nykredit A/S, Lasse Nyby states:
    “There is reason to be proud of what we have created together in Spar Nord. Although it is of course sad to end more than 200 years of independence, there is certainly also reason to be pleased that Spar Nord contributes with great strength to a new and merged bank, which with its customer-ownership will be a very attractive alternative to the largest listed competitors. It has been a pleasure and a privilege to have been at the helm of Spar Nord for almost 25 years. Now I look forward to taking on a new role and, together with the rest of the Board of Directors, developing a strong group for the benefit of both customers and employees.”

    About his new role on Nykredit’s Group Executive Board, Martin Kudsk Rasmussen states:
    “Spar Nord and Nykredit Bank are a good match. By combining local presence and drive with a unique customer ownership, we are building a powerful bank that will stand strong in the battle for customers and employees. I look forward to stepping into a new role and, together with talented colleagues, contributing to a bank that combines the best of two worlds and understands the importance of having a local presence close to customers with strong competencies and competitive products throughout the country.”

    Changes in Spar Nord Bank A/S and Nykredit Bank A/S
    On Monday, 2 June, 2025, a general meeting of Spar Nord Bank A/S is expected to be convened, to be held on 24 June, 2025, where it is proposed that the current Board of Directors of Spar Nord Bank A/S elected by the general meeting be replaced by Michael Rasmussen, Anders Jensen, Tonny Thierry Andersen, Pernille Sindby and David Hellemann. These five individuals are currently also members of the Board of Directors of Nykredit Bank A/S. Jannie Skovsen, Rikke Marie J. Christiansen and Gitte Holmgaard will continue as employee-elected board members of Spar Nord Bank A/S.

    The executive managements of Nykredit Bank A/S and Spar Nord Bank A/S are expected to be changed after 24 June, 2025, so that the members of the executive managements of the two companies will be identical.

    This means that the new Board of Directors of Spar Nord, which will take office after the general meeting on 24 June, 2025, is expected to make changes to the Executive Management of Spar Nord Bank A/S. Søren Kviesgaard and Dan Erik Krarup Sørensen, who are currently members of the Executive Management of Nykredit Bank A/S, are expected to join the Executive Management of Spar Nord, while Martin Kudsk Rasmussen and Carsten Levring Jakobsen, who are currently members of the Executive Management of Spar Nord, will continue in the Executive Management. Similarly, Carsten Levring Jakobsen and Martin Kudsk Rasmussen are expected to join the Executive Management of Nykredit Bank A/S. Carsten Levring Jakobsen will – in addition to his position in the Executive Management of Spar Nord and Nykredit Bank – also continue in a central role in the Nykredit Group, also after the merger.

    In connection with the merger of Nykredit Bank A/S and Spar Nord Bank A/S, which is expected to take effect in spring 2026, Martin Kudsk Rasmussen is expected to resign from the executive management of the two banks to join the board of directors of the merged bank.

    Spar Nord Bank A/S has announced that John Lundsgaard and Lasse Nyby will resign as members of the Executive Management of Spar Nord Bank A/S no later than 30 June, 2025.

    Group Chief Executive, Michael Rasmussen states:
    “I would like to thank the current members of the Executive Management of Spar Nord. They have played a crucial role in ensuring that Spar Nord is today a strong and well-run bank in growth. With the new and significant roles for Martin Kudsk Rasmussen and Carsten Levring Jakobsen, we ensure that the high level of competence and important perspectives from Spar Nord are brought into the further work of merging our two banks for the greatest possible benefit and joy for our customers. This has been important to us. A special thanks also goes to John Lundsgaard. With his 25 years as part of Spar Nord’s Executive Management, John has played a major role in Spar Nord’s strong position in the market today, and I am pleased that – even after leaving Spar Nord’s Executive Management – he has agreed to be available to Nykredit’s Group Executive Board in the period to come while we begin the integration of our two banks.”

    Contact and further information
    Attached to this announcement is a group chart for Nykredit.

    Any questions can be directed to Nykredit’s Head of Press Relations Orhan Gökcen on +45 31 21 06 39.

    Attachments

    The MIL Network –

  • MIL-OSI: Management changes in the Nykredit Group – Nykredit Realkredit A/S

    Source: GlobeNewswire (MIL-OSI)

    Company announcement

    Management changes in the Nykredit Group
    In connection with Spar Nord Bank A/S becoming part of the Nykredit Group, changes are expected to be made to the boards of directors and executive managements of the companies in the Nykredit Group.

    Lasse Nyby to become Deputy Chairman of Nykredit A/S and Nykredit Realkredit A/S
    On Monday, 2 June, 2025, a general meeting in Nykredit Realkredit A/S is expected to be convened, to be held on 24 June, 2025, at which it is proposed that Lasse Nyby – the current CEO of Spar Nord Bank A/S – joins the Board of Directors of Nykredit Realkredit A/S. Lasse Nyby will continue on the Board of Directors of Nykredit A/S, which he has been a member of since 2007. Lasse Nyby is expected to be appointed Deputy Chairman of the two boards at the following board meetings.

    Preben Sunke will continue as Deputy Chairman of Nykredit A/S and Nykredit Realkredit A/S, and as such, going forward, there will be two deputy chairmen of the boards of directors of those two companies.

    Nykredit A/S and Nykredit Realkredit A/S are the ultimate parent companies in the Nykredit Group’s corporate structure. The Nykredit Group’s business activities are based in Nykredit Realkredit A/S, and the activities are conducted both through Nykredit Realkredit A/S and the group subsidiaries. Nykredit Realkredit A/S is wholly owned by Nykredit A/S, whose sole purpose is to own Nykredit Realkredit A/S.

    Nykredit’s Group Executive Board to be expanded with Martin Kudsk Rasmussen
    The Group Executive Board of Nykredit Realkredit A/S is expected to be expanded on 24 June, 2025, with the addition of Martin Kudsk Rasmussen, who has up until now been a member of the Executive Management of Spar Nord Bank A/S. Together with current Group Executive Director, Tonny Thierry Andersen, Martin Kudsk Rasmussen will be responsible for the entire Banking area in the Nykredit Group. The responsibilities of the remaining members of the Group Executive Board remain unchanged.

    The Group Executive Board of Nykredit Realkredit A/S will then consist of Group Chief Executive, Michael Rasmussen and the Group Executive Directors; Anders Jensen, David Hellemann, Martin Kudsk Rasmussen, Pernille Sindby and Tonny Thierry Andersen.

    Regarding the changes to the Board of Directors and the Group Executive Board, Merete Eldrup, Chairman of the Board of Directors of Nykredit A/S and Nykredit Realkredit A/S, states:

    “With his extensive management experience and solid insight into the financial sector, Lasse Nyby is already a key capacity of the Board of Directors of Nykredit A/S. Now he will also join the Board of Directors of Nykredit Realkredit A/S and will on both boards take a prominent role as Deputy Chairman. I look forward to that. The Board of Directors is also pleased to add Martin Kudsk Rasmussen to the Group Executive Board of Nykredit. Martin has significant competencies and experience from the financial sector, and during his time at Spar Nord, he has been an important factor in Spar Nord’s impressive development.

    With Spar Nord as part of the Nykredit Group, we will show even more customers the benefits of a customer-owned bank that takes a different position in the market. At the same time, we maintain a strong focus on continuing to invest in our partnerships in Totalkredit and other partnerships. Myself and the Board of Directors look forward to continuing this work together with the Group Executive Board based on the direction that the group’s ’Winning the Double’ strategy continues to set.”

    Group Chief Executive, Michael Rasmussen states:
    “I look forward to continuing the good cooperation with Lasse Nyby in his new position on the Board of Directors. I am also pleased to welcome Martin Kudsk Rasmussen to the Group Executive Board. Throughout his career, Martin has demonstrated that he possesses significant competencies in the banking area. We are now joining forces as two strong banks that are both experiencing growth, customer inflows and high customer satisfaction to make us even stronger in the competition with the largest listed banks. Tonny Thierry Andersen and Martin Kudsk Rasmussen will play an important managerial role in building on the key strengths of both Spar Nord and Nykredit across the combined and – with Spar Nord as part of the group – significantly larger Banking area of the Nykredit Group.”

    About his new role as Deputy Chairman of the boards of directors of Nykredit Realkredit A/S and Nykredit A/S, Lasse Nyby states:
    “There is reason to be proud of what we have created together in Spar Nord. Although it is of course sad to end more than 200 years of independence, there is certainly also reason to be pleased that Spar Nord contributes with great strength to a new and merged bank, which with its customer-ownership will be a very attractive alternative to the largest listed competitors. It has been a pleasure and a privilege to have been at the helm of Spar Nord for almost 25 years. Now I look forward to taking on a new role and, together with the rest of the Board of Directors, developing a strong group for the benefit of both customers and employees.”

    About his new role on Nykredit’s Group Executive Board, Martin Kudsk Rasmussen states:
    “Spar Nord and Nykredit Bank are a good match. By combining local presence and drive with a unique customer ownership, we are building a powerful bank that will stand strong in the battle for customers and employees. I look forward to stepping into a new role and, together with talented colleagues, contributing to a bank that combines the best of two worlds and understands the importance of having a local presence close to customers with strong competencies and competitive products throughout the country.”

    Changes in Spar Nord Bank A/S and Nykredit Bank A/S
    On Monday, 2 June, 2025, a general meeting of Spar Nord Bank A/S is expected to be convened, to be held on 24 June, 2025, where it is proposed that the current Board of Directors of Spar Nord Bank A/S elected by the general meeting be replaced by Michael Rasmussen, Anders Jensen, Tonny Thierry Andersen, Pernille Sindby and David Hellemann. These five individuals are currently also members of the Board of Directors of Nykredit Bank A/S. Jannie Skovsen, Rikke Marie J. Christiansen and Gitte Holmgaard will continue as employee-elected board members of Spar Nord Bank A/S.

    The executive managements of Nykredit Bank A/S and Spar Nord Bank A/S are expected to be changed after 24 June, 2025, so that the members of the executive managements of the two companies will be identical.

    This means that the new Board of Directors of Spar Nord, which will take office after the general meeting on 24 June, 2025, is expected to make changes to the Executive Management of Spar Nord Bank A/S. Søren Kviesgaard and Dan Erik Krarup Sørensen, who are currently members of the Executive Management of Nykredit Bank A/S, are expected to join the Executive Management of Spar Nord, while Martin Kudsk Rasmussen and Carsten Levring Jakobsen, who are currently members of the Executive Management of Spar Nord, will continue in the Executive Management. Similarly, Carsten Levring Jakobsen and Martin Kudsk Rasmussen are expected to join the Executive Management of Nykredit Bank A/S. Carsten Levring Jakobsen will – in addition to his position in the Executive Management of Spar Nord and Nykredit Bank – also continue in a central role in the Nykredit Group, also after the merger.

    In connection with the merger of Nykredit Bank A/S and Spar Nord Bank A/S, which is expected to take effect in spring 2026, Martin Kudsk Rasmussen is expected to resign from the executive management of the two banks to join the board of directors of the merged bank.

    Spar Nord Bank A/S has announced that John Lundsgaard and Lasse Nyby will resign as members of the Executive Management of Spar Nord Bank A/S no later than 30 June, 2025.

    Group Chief Executive, Michael Rasmussen states:
    “I would like to thank the current members of the Executive Management of Spar Nord. They have played a crucial role in ensuring that Spar Nord is today a strong and well-run bank in growth. With the new and significant roles for Martin Kudsk Rasmussen and Carsten Levring Jakobsen, we ensure that the high level of competence and important perspectives from Spar Nord are brought into the further work of merging our two banks for the greatest possible benefit and joy for our customers. This has been important to us. A special thanks also goes to John Lundsgaard. With his 25 years as part of Spar Nord’s Executive Management, John has played a major role in Spar Nord’s strong position in the market today, and I am pleased that – even after leaving Spar Nord’s Executive Management – he has agreed to be available to Nykredit’s Group Executive Board in the period to come while we begin the integration of our two banks.”

    Contact and further information
    Attached to this announcement is a group chart for Nykredit.

    Any questions can be directed to Nykredit’s Head of Press Relations Orhan Gökcen on +45 31 21 06 39.

    Attachments

    The MIL Network –

  • MIL-OSI Africa: Ghana’s Environment Minister to Champion Innovation, Sustainability at Mining in Motion 2025

    Source: Africa Press Organisation – English (2) – Report:

    ACCRA, Ghana, May 28, 2025/APO Group/ —

    The Mining in Motion Summit (MininginMotionSummit.com) is pleased to announce the participation of Hon. Ibrahim Murtala Muhammed, Ghana’s Minister for Environment, Science, Technology and Innovation, as a speaker. Hon. Muhammed’s involvement underscores the government’s commitment to environmentally responsible mining, technological innovation and scientific advancement in the extractive sector. 

    As the head of the ministry leading innovation and sustainability, Hon. Muhammed is spearheading initiatives to align mining operations with national development goals and environmental stewardship. His efforts include forging partnerships with global public and private stakeholders to implement science-based solutions and sustainable practices. In April 2025, the Minister met with Park Kyongsig, Ambassador of the Republic of Korea (apo-opa.co/45r33JW) to Ghana, to explore bilateral cooperation on climate change and environmental protection. Their discussions centered on leveraging Korean expertise to restore water bodies impacted by illegal mining and address the root causes of environmental degradation. 

    In February 2025, Hon. Muhammed reiterated the government’s commitment (apo-opa.co/4dV4wKZ) to leveraging local innovation as a driver of economic growth, particularly within key industries like mining, which continues to play a vital role in Ghana’s economy. Gold exports reached $11.6 billion in 2024, accounting for 57% of the country’s total export revenue, highlighting the sector’s significance in national development. In line with modernization efforts, the government, through the Minerals Commission of Ghana (apo-opa.co/3H8AM0P), is equipping the next generation of workers with skills in emerging technologies such as drones, which are being deployed to support automation and improve sector monitoring. 

    Under the World Bank-funded Ghana Landscape Restoration and Small-Scale Mining Project (apo-opa.co/4kHR9Qr), the country is actively addressing land degradation and promoting sustainable practices among artisanal and small-scale miners, ensuring mining sector contribution to economic growth and long-term environmental and social sustainability. 

    At Mining in Motion, Hon. Muhammed will engage with key stakeholders from the mining industry, academia and civil society to exchange insights on policy, innovation and the future of mineral resource governance in Ghana. 

    The summit, led by the Ashanti Green Initiative under the leadership of Oheneba Kwaku Duah, Prince of the Ashanti Kingdom, is hosted in partnership with the World Bank and the World Gold Council. 

    MIL OSI Africa –

  • MIL-OSI Asia-Pac: Fraudulent website and internet banking login screen related to China Construction Bank (Asia) Corporation Limited

    Source: Hong Kong Government special administrative region

    Fraudulent website and internet banking login screen related to China Construction Bank (Asia) Corporation Limited 
    The HKMA wishes to remind the public that banks will not send SMS or emails with embedded hyperlinks which direct them to the banks’ websites to carry out transactions. They will not ask customers for sensitive personal information, such as login passwords or one-time password, by phone, email or SMS (including via embedded hyperlinks).
     
    Anyone who has provided his or her personal information, or who has conducted any financial transactions, through or in response to the website or login screen concerned, should contact the bank using the contact information provided in the press release, and report the matter to the Police by contacting the Crime Wing Information Centre of the Hong Kong Police Force at 2860 5012.
    Issued at HKT 17:35

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: The EBA releases final technical package for its 4.1 reporting framework to support identification and assessment of crypto asset providers and the Pillar 3 data hub

    Source: European Banking Authority

    The European Banking Authority (EBA) today published the final technical package for version 4.1 of its reporting framework. This package will support the assessment and identification of significant crypto asset providers. It will also support the centralisation of institutions’ prudential disclosures in the EBA Pillar 3 data hub, which shall facilitate access and usability of this information to all users, including institutions. This framework will apply as of the second half of 2025.

    The draft technical package provides the standard specifications which include the validation rules, the data point model (DPM) and the XBRL taxonomies to support the following reporting obligations:

    • Pillar 3 templates included in the comprehensive Implementing Technical Standards (ITS) on Pillar 3 disclosures, for the purpose of the Pillar 3 data hub.
    • Own initiative guidelines on reporting of data that competent authorities will need for the purpose of their supervisory tasks and for significance assessment (MiCAR reporting Guidelines).
    • Integration of Instant Payments reporting ITS into DPM and taxonomy
    • A series of validation rules have been added to the ESG ad-hoc data collection module.

    Background and Next steps

    A draft version of the technical package for the 4.1 reporting framework was published at the end of March 2025. The final version published today includes corrections and addresses the feedback provided from the revision of the draft technical package by various stakeholders.

    In June 2024, the EBA published its plan for the implementation of DPM 2.0. The draft technical package for version 4.1 published today, continues the transition to DPM 2.0 and to the new glossary, as announced in June. This draft technical package includes a version of the data dictionary contents in both formats the DPM 1.0 and the new format DPM 2.0.

    The FAQs published in December 2024 providing additional explanations on the transition to DPM 2.0 and a new glossary period remain a good source of information. In addition, the EBA is providing a presentation explaining the use of DPM-XL language for validation rules

    MIL OSI Europe News –

  • MIL-OSI China: Announcement on Open Market Operations No.100 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.100 [2025]

    (Open Market Operations Office, May 28, 2025)

    The People’s Bank of China conducted reverse repo operations in the amount of RMB215.5 billion through quantity bidding at a fixed interest rate on May 28, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Rate

    Bidding Volume

    Winning Bid Volume

    7 days

    1.40%

    RMB215.5 billion

    RMB215.5 billion

    Date of last update Nov. 29 2018

    2025年05月28日

    MIL OSI China News –

  • MIL-OSI Africa: Afreximbank wins mandate as sole financial advisor for South Africa’s $1.7-billion Suiso Project

    Source: Africa Press Organisation – English (2) – Report:

    CAIRO, Egypt, May 28, 2025/APO Group/ —

    African Export-Import Bank’s (Afreximbank) (www.Afreximbank.com) Advisory and Capital Markets (ACMA) department has been appointed and mandated as the exclusive financial advisor to raise capital for the US$1.7-billion Suiso Project, a transformative coal-to-fertiliser facility to be developed in Kriel, Mpumalanga Province, in South Africa.

    As financial advisor, ACMA’s role will involve leveraging its network and expertise to structure and mobilise the capital required for the project’s execution.

    The Suiso Project, which aims to promote sustainable agriculture, will use cutting-edge fertiliser technology, such as air products gasification, and is expected to enhance the food security situation in the region. Sponsored by a consortium of leading energy and industrial companies committed to sustainable development and economic growth in the region, the project represents a significant investment in South Africa’s industrial agriculture sector aimed at reducing dependency on imported fertilisers.

    This appointment is a reflection of the increasing recognition of Afreximbank’s capacity and commitment to supporting large-scale projects with the potential to drive industrialisation and economic development across Africa.

    Suiso was formed recently to focus on the manufacture of ammonia and fertiliser, using a fossil-fuel gasification process. It intends to build a more resilient and sustainable fertiliser and agricultural market across Sub-Saharan Africa with more efficient fertiliser application rates and a reduction in greenhouse gas emissions. Suiso plans to establish a blue ammonia production facility with a capacity of 2,200 tonnes per day (TPD).  This facility will produce approximately 2,600 TPD of Urea, 1,600 TPD of Ammonium Nitrate (TAN), and a low-density Ammonium Nitrate using prilling technology, with any excess ammonia being sold in bulk.

    MIL OSI Africa –

  • MIL-OSI Banking: Samsung Launches One UI 8 Beta Program: The First-Generation Upgrade Starting With the New Galaxy Foldables

    Source: Samsung

    One UI 8 is coming, and early access is now available through its beta program — kicking off a new era of software intelligence that brings a true multimodal AI agent designed for various Samsung Galaxy form factors.
     
    One UI is Samsung’s integrated software platform, designed to help Galaxy devices simplify everyday routines and enhance productivity and convenience. Thanks to the mutual partnership between Samsung and Google, One UI 8 will debut on Samsung’s newest foldables this summer and will gradually expand to more Galaxy devices so users can now enjoy an enriched, more personalized mobile experience with the latest version of Android.
     
    Through open communication, Samsung and Google actively shared their respective design systems and real-time feedback with one another, accelerating software development that made One UI 8 one of the first UI platforms to adopt Android 16.
     
    In addition to being the first generation of upgrades to launch alongside new foldable devices, the launch of One UI 8 also initiates a new rhythm for Samsung’s software evolution with major UX and AI updates. You can get a first glimpse of this innovation by signing up for the beta program kicking off today, starting with the Galaxy S25, S25+ and S25 Ultra in Germany, Korea, the United Kingdom and the United States.
     
     
    Personalized AI for Seamless, Natural Interactions

     
    The official rollout of One UI 8 will introduce an AI experience that will make your everyday smarter and more convenient by enhancing the AI features first introduced in the Galaxy S25 series. There are three main factors that realize this: multimodal capabilities, UX tailored to different device form factors, and personalized, proactive suggestions. Intelligent multimodality enables you to have natural, seamless communication with AI that understands what you’re looking at or watching in the moment. The updated UX is optimized for the unique form factors across the Galaxy product portfolio, boosting your everyday productivity and efficiency. One UI 8 will also recognize your context, offering personalized, proactive suggestions that support your unique daily routine. Features like Now Bar1 and Now Brief2 will deliver even more customized insights and suggestions to help you stay on top of tasks and support your daily routine, through curated AI information.
     
    This intelligent, personalized AI experience did not just come out of nowhere. It is made possible by robust security that safeguards your data. Samsung Knox Vault combines a dedicated secure processor with secure memory to isolate sensitive data from the rest of your user data and ensure that no one else can physically or remotely reach your personal information. One UI 8 also provides settings where you can choose to process data only on the device, as many of our Galaxy AI experiences use both on-device and cloud-based AI processing. With transparency and user choice at its core, One UI 8 will deliver a personalized AI experience without compromising privacy.
     
     
    Enhanced Everyday Convenience

     
    One UI 8 is not only about providing the AI experience, but also includes convenient, intuitive tools designed to make your day-to-day experiences with your mobile devices even more seamless. Auracast3 — a broadcast audio technology based on Bluetooth LE Audio4  — will support effortless audio connection via QR code scanning and sharing, allowing multiple Auracast devices5 — like Galaxy Buds3 and hearing aids — to join a shared audio stream without the hassle of a complex manual setup. Additionally, customer support at repair centers will be faster and more convenient, thanks to QR- and NFC-enabled support6 accessible right in Samsung Account. You can now register with QR or NFC without having to write any registration forms, reducing wait times and simplifying service requests.

     
    The Reminder app will be your travel supporter with more convenient and intuitive features. If you are planning a trip to New York with your family, you can manage all your reminders in one place as soon as you open the app with a UX that is easy-looking even for first-time users. You can also share a list of to-dos for your trip with the press of a button. When your hands are full of shopping bags, you can use your voice to add reminders on the go as it is voice enabled.
     
    Sharing memories with family and friends will also be easier than ever with enhanced Quick Share.7 A single tap of the Quick Share button in the Quick settings panel will let you instantly send and receive files.
     
    The future of Galaxy AI starts now. Sign up through the Samsung Members app to be among the first to experience the power of One UI 8.
     
     
    1 Availability of functions supported may vary by country and model. Some functions may require a network connection and/or Samsung Account login.
    2 Now Brief feature requires a Samsung Account login. Service availability may vary by country, language, device model or apps. Some features may require a network connection.
    3 The quality of the Auracast audio stream may vary depending on the application, network connection and other factors.
    4 Available on devices with Bluetooth 5.2 and above that support Auracast.
    5 Auracast Transmitter/Assistant supported devices: Samsung Galaxy flagship smartphones, tablets released in 2023 or later with Samsung One UI version 6.1 or above. Auracast Receiver supported devices: Galaxy Buds3, Buds3 Pro, Buds2 Pro. May require software update. Availability may vary by market and model.
    6 Available on 36 countries: U.S., Argentina, Austria, Brazil, Chile, Colombia, Czech Republic, Ecuador, France, Greece, Guatemala, Hungary, India, Indonesia, Kenya, Korea, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Pakistan, Panama, Peru, Philippines, Poland, Portugal, Singapore, South Africa, Spain, Taiwan, Thailand, Türkiye, Ukraine, Uzbekistan, Vietnam. Availability may vary by country. The feature availability will expand to more countries via further updates. The feature is available in limited number of repair shops, and will be expanded further afterwards. Available on with Android 10 or above, NFC availability may vary by device, Samsung Account app is available on devices with Android 10 or above. Availability may vary by NFC Memory support availability.
    7 Bluetooth Low Energy and Wi-Fi connection are both required for Quick Share. Number of devices Quick Share can share to at the same time may vary depending on the Wi-Fi chip hardware of the sharing device. Actual speed may vary depending on device, network condition and user environment.

    MIL OSI Global Banks –

  • MIL-OSI United Kingdom: Household Support Fund is available to support residents in Preston

    Source: City of Preston

    Preston City Council has secured additional funding through the Household Support Fund to continue supporting local residents, following its conclusion of the sixth round of funding in March 2025. This vital fund has been in place for several years to assist those most affected by the ongoing rise in living costs.

    Applications for the latest round will open Monday 27 May, and close on 31 March 2026 or until the funds have been exhausted.

    Councillor Peter Kelly, cabinet member of communities, social justice and night-time economy, said:

    “We’re delighted that we can continue this scheme and help those who need help and support to Preston residents. I would urge all eligible residents in need of help and assistance with energy and water bills, food and essential items to apply.”

    The Household Support Fund is designed to help the households in greatest need, particularly families with children, older residents and anyone facing hardship with essential living costs such as food, energy and water bills. Special consideration will be given to supporting low-income households with energy costs during this period.

    The Household Support Fund has helped keep the Food Banks/Hubs in Preston operating and has helped through each round of the scheme.

    The scheme can provide short-term assistance with essential living expenses, including food, utility bills, essential household appliances and more. Where larger items like fridges or washing machines are needed, these will be purchased through the fund and delivered directly to the applicant.

    In addition to direct support, as part of our preventative support, the scheme offers guidance and referrals to other local services, ensuring residents receive the assistance they may need including help with finances, debt, and welfare benefits to improve longer-term financial security.

    To apply, applicants must live within the Preston City Council area with only one application per household will be considered. The fund is open to anyone vulnerable or struggling to cover essential costs.

    It’s important to note you do not need to be receiving benefits to qualify for help through this fund — and any payments received will not affect existing benefits.

    For full details on how to apply and eligibility, see Household Support Fund.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Mayor extends thanks to everyone who supported her ‘One Big Weekend, One Big Cause’ event

    Source: Northern Ireland – City of Derry

    Mayor extends thanks to everyone who supported her ‘One Big Weekend, One Big Cause’ event

    28 May 2025

    The Mayor of Derry City and Strabane District Council has expressed her overwhelming gratitude to everyone who supported her ‘One Big Weekend, One Big Cause – Revved Up and Ready to Rock for Bud Club’ fundraising extravaganza.

    The spectacular Bank Holiday weekend celebration on 24th and 25th May raised funds for the Bud Club, a vital organisation supporting young people with additional needs across the district.

    “I am absolutely overwhelmed by the incredible response from our community,” said Mayor Barr. “The generosity and spirit shown by everyone who attended has been truly humbling. What we witnessed was our city and district at its absolute best – a community coming together to support those who need it most.”

    Supercar Saturday in Guildhall Square drew crowds throughout the afternoon to see Gary and Stephen McCaul’s stunning collection of 35 luxury vehicles, including Lamborghinis, Ferraris, and McLarens. Popular entertainer Micky Doherty kept spirits high despite the inclement weather.

    Saturday evening’s star-studded concert at the Guildhall was a resounding success, with local favourite Ritchie Remo getting the crowd on their feet, comedian Black Paddy delivering laughs throughout his set, and the Mindbenders bringing the house down with their Ultimate Yacht Rock Show featuring timeless hits from the 70s and 80s.

    The weekend concluded on Sunday with an electric Afrobeats night at St Columb’s Hall, where music lovers danced to infectious rhythms celebrating culture, unity, and community spirit. Adding to the night was Miss Africa-Ireland who brought an incredible exhibition of African fashion along for the audience to enjoy.

    “Every single person who bought a ticket or came out to enjoy the festivities has made a real difference in the lives of young people with additional needs,” the Mayor continued. “The funds raised will directly support Bud Club’s incredible work, providing life-changing opportunities for some of our most vulnerable young citizens.”

    Mayor Barr added: “As I near the end of my term in office, I couldn’t have asked for a better way to conclude this incredible year. This weekend embodied everything I’ve tried to champion – bringing our community together and ensuring we lift up those who need our support. To everyone who made this weekend special – from the bottom of my heart, thank you.”

    MIL OSI United Kingdom –

  • MIL-OSI: Nykredit has completed the recommended voluntary public tender offer for Spar Nord Bank A/S – Nykredit Realkredit A/S

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO ANY JURISDICTION WHERE DOING SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

    Nykredit has completed the recommended voluntary public tender offer for Spar Nord Bank A/S

    28 May 2025

    Nykredit has completed the recommended voluntary public tender offer for Spar Nord Bank A/S

    With reference to Nykredit Realkredit A/S’s (“Nykredit”) announcement of 23 May 2025, in which Nykredit announced the final result of the voluntary public tender offer submitted by Nykredit (the “Offer”), Nykredit now announces that the Offer has been completed and settled as planned.

    Compulsory acquisition, delisting and changes to the management and articles of association

    As Nykredit has obtained an ownership interest corresponding to more than 90 per cent of the share capital and the associated voting rights in Spar Nord Bank (excluding treasury shares), it is Nykredit’s intention to initiate and complete a compulsory acquisition of the shares held by the remaining Spar Nord Bank shareholders in pursuance of sections 70-72 of the Danish Companies Act.

    Nykredit furthermore intends to seek to have the Spar Nord Bank shares removed from trading and official listing on Nasdaq Copenhagen A/S.

    In this connection, Nykredit will request Spar Nord Bank to convene an extraordinary general meeting at which Nykredit will propose changes to the board of directors of Spar Nord Bank and changes to Spar Nord Bank’s articles of association.

    Detailed information on compulsory acquisition, delisting and extraordinary general meeting will be published in separate announcements.

    In connection with Nykredit completing the recommended voluntary public tender offer for Spar Nord Bank A/S, Michael Rasmussen, Group Chief Executive, comments:

    “I have been looking forward to welcoming everyone at Spar Nord – customers and colleagues alike – to the Nykredit Group. Our two strong banks now join forces. Both of us are experiencing growth, customer inflows, and high customer satisfaction. Together, we can show even more customers that there is a customer-owned alternative in the financial sector and stand even stronger in the competition with the largest listed banks.

    Having completed the transaction, we will spend the coming period getting to know each other better. Much will therefore be as before – both for customers and colleagues. Naturally, our primary focus will be on meeting the needs of our customers.

    At the same time, the Nykredit Group’s ‘Winning the Double‘ strategy continues, because partnerships are a crucial part of our group strategy. Our partners can therefore expect us to further engage and invest in our important communities in Totalkredit, BEC, Sparinvest, nærpension and Privatsikring. These partnerships ensure that we together stand stronger in the Danish financial market and in our interaction with customers.”

    Additional information

    Contact persons:

    Investor contact:

    Morten Bækmand, Head of Investor Relations, Nykredit (+45 2339 4168)

    Media contact:

    Orhan Gökcen, Head of Press, Nykredit (+45 3121 0639)

    Attachment

    The MIL Network –

  • MIL-OSI: Nykredit announces completion of the takeover offer

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 15
    NOT FOR DIRECT OR INDIRECT RELEASE, PUBLICATION OR DISTRIBUTION IN OR
    TO ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE CONTRARY TO APPLICABLE LEGISLATION OR RULES OF SUCH
    JURISDICTION

    Nykredit has announced completion of the takeover offer

    With reference to Spar Nord Bank A/S’ (Spar Nord) company announcement no. 14/2025 concerning the final result of the all-cash voluntary takeover offer from Nykredit Realkredit A/S (Nykredit) for all shares (other than treasury shares held by Spar Nord) in Spar Nord (the Offer), Nykredit has today announced that the Offer has been completed and settled as planned.

    Compulsory acquisition and delisting
    As Nykredit has obtained more than 90% of the share capital and voting rights in Spar Nord, excluding treasury shares held by Spar Nord, as a result of the Offer, Nykredit will, after completion of the Offer, seek to initiate and complete a compulsory acquisition of the Spar Nord shares held by the remaining minority shareholders in Spar Nord.

    In addition, Nykredit will request that Spar Nord seeks to have the Spar Nord shares removed from trading and official listing on Nasdaq Copenhagen A/S.

    Information about the compulsory acquisition and removal from trading and official listing of the Spar Nord shares will be announced separately.

    Relevant material is, subject to certain restrictions, made available at
    https://www.sparnord.com/investor-relations/takeover-offer

    Questions may be directed to Neel Rosenberg (media) on +45 25 27 04 33 or to CFO Rune Brandt Børglum (investors)on +45 96 34 42 36.

    Attachments

    The MIL Network –

  • MIL-Evening Report: Nobel laureate Brian Schmidt is ‘scared’ about Australia’s research capacity – this is why

    Source: The Conversation (Au and NZ) – By Brendan Walker-Munro, Senior Lecturer (Law), Southern Cross University

    On Wednesday, Nobel laureate Brian Schmidt and economics professor Richard Holden gave a joint address to the National Press Club in Canberra. Their key message? Australia isn’t spending enough money on university research.

    Schmidt wants to ensure Australia can undertake research vital to our national interests.

    “I look around and I am scared,” Schmidt said. “The Australian government investment in its sovereign research capability was 50% higher 15 years ago as a fraction of GDP.”

    In his remarks, Holden warned, “we’ve become addicted to funding […] research capability through international student income”.

    If this sounds familiar, both Schmidt and Holden have made similar calls before. And their press club presentation follows constant and repeated repeated calls from the university sector for more funds.

    How much is Australia spending on research and how does this compare to other countries?

    How does Australia compare?

    When we look around the world, Australia is lagging when it comes to research spending. Australia spends roughly 1.7% of its Gross Domestic Product (GDP) on all forms of research and development.

    Our research expenditure has also decreased every year since 2008, according to the Australian Academy of Science.

    Meanwhile, based on World Bank data, the United States spends about 3.59% of their GDP on research. China might only spend 2.56% of its GDP, but that’s 2.56% of around US$18.7 trillion (A$29 trillion) – meaning China spends about US$500 billion ($778 billion) on research annually.

    The OECD average (across 38 member countries) is 2.7%, a full percentage point higher than Australia. We’re also underspending compared to other nations smaller than us, including:

    – Finland has a population roughly one-fifth of Australia and spends 2.96% of its GDP on research

    – Sweden has a population of about 10 million and spends 3.41%.

    Australia’s top research universities (the Group of Eight), argue Australia needs to work towards a target of 3% GDP to “underwrite national prosperity”.

    The funding we have is unstable

    Australia’s university research funding also lacks stability.

    Government only funds part of university research – so universities have to come up with the rest. This adds a layer of vulnerability to our research system.

    One of the key sources of university-generated funding is international student fees.

    This means if there are cuts to overseas students – as we saw during COVID and as we see now due to federal government policy changes – there is a flow-on impact on research funding.

    Repeated calls for more funds have been ignored

    Universities have been asking for more money for years and these requests have been ignored by both sides of politics.

    But while the requests may not change, the global security context is shifting. As Schmidt told the press club,

    We can expect new technologies based around small-scale automated machines, hypersonic missiles and computer warfare to feature prominently if we are to have future conflicts between advanced economies.

    In such a case the research capability of a country will be incredibly important at influencing the overall winners and losers, because once the conflict starts, you ‘have what you got’.

    If we don’t properly fund universities to do cutting-edge research, such as quantum science, robotics and cybersecurity, researchers will go elsewhere to do their work. And some funders might not have Australian interests at heart.

    China, Russia and the European Union have leapt on US President Donald Trump’s recent decisions to defund or halt research programs, creating funds worth billions of dollars to woo scientists and scholars from the US to their own countries.

    What options do we have?

    The Albanese government has commissioned a strategic review of Australia’s research and development sector (led by Tesla chair Robyn Denholm), which is due to report by the end of the year. Part of its remit is to look at “mechanisms to improve coordination and impact of [research and development] funding and programs […].”

    In an ideal world, this will prompt the federal government up its funding of research, to match other countries. But previous unheard calls suggests this is unlikely.

    But we can also be more creative. Perhaps industry can fill the gap with an Australian “Silicon Valley” where emerging industries can be clustered with universities in research partnerships. This is what some authors have called “innovation precincts”.

    We could also look at prioritising industry-based PhDs, so postdoctoral students have a research job when they graduate. Or we could consider reallocating government funds going to other sources, such as defence, on topics of military or intelligence importance.

    This could see university funding pools become broader and deeper, more diversified and better suited to our national interests.

    Brendan Walker-Munro has completed paid consultancies for the Australian Strategic Policy Institute and Independent National Security Legislation Monitor. He receives funding from the Australian Government under the Australia-India Cyber and Critical Technologies Partnership.

    – ref. Nobel laureate Brian Schmidt is ‘scared’ about Australia’s research capacity – this is why – https://theconversation.com/nobel-laureate-brian-schmidt-is-scared-about-australias-research-capacity-this-is-why-257717

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Australia: Longest period in band on record for monthly inflation

    Source: Australian Parliamentary Secretary to the Minister for Industry

    New figures from the ABS show that headline and underlying inflation remained in the Reserve Bank of Australia’s target band in April.

    Today’s result is another demonstration of the substantial and sustained progress we have made on inflation.

    Headline inflation was 2.4 per cent through the year to April 2025, unchanged from March.

    Annual Trimmed Mean inflation was 2.8 per cent.

    Monthly headline inflation has been in the band for nine consecutive months and underlying inflation has been in the band for five consecutive months.

    We know that these monthly numbers are volatile and can bounce around but the direction of travel on inflation is clear.

    Another month of CPI in the band is a welcome and encouraging sign that inflation is moderating sustainably.

    This is the longest period that both headline and underlying inflation have been in the band since the monthly inflation series began in 2018.

    Under Labor, inflation is down substantially, real wages are up, unemployment is low, our economy is growing, debt is down and interest rates are falling.

    On the official quarterly numbers, the March quarter was the first time since records began that unemployment has been in the low 4s and headline and underlying inflation have both been in the target band.

    Today’s data is more evidence we are in better shape to face the uncertainty in the global economy than almost any other advanced economy with inflation rising recently in countries like the UK and Japan.

    Electricity prices fell 6.5 cent in the year to April but would have risen 1.5 per cent without the energy rebates for every household we are rolling out with the states.

    Rents rose 5.0 per cent in the year but would have increased 6.1 per cent without the recent increases to Commonwealth Rent Assistance.

    Even with this substantial progress and two interest rate cuts in three months, we know people are still under pressure and we face global economic headwinds.

    That’s why the Albanese Government’s economic strategy has been all about getting on top of inflation while maintaining the gains in the labour market and ensuring the economy continues to grow.

    All of the progress that Australians have made together means that we are well placed and well prepared for heightened uncertainty and volatility in the global economy.

    MIL OSI News –

  • MIL-OSI Economics: Kazuo Ueda: Opening remarks – BOJ-IMES conference 2025

    Source: Bank for International Settlements

    I. Introduction

    We are pleased to welcome all of you, distinguished speakers and guests, to the 2025 BOJIMES Conference. Thank you very much for your participation.

    The first BOJ-IMES Conference was held in 1983, and while it was held biennially in some cases, this year marks the 30th edition. Since its inception, the conference has brought together participants from central banks, international institutions, and academia, providing a valuable platform for candid and active discussions on central banking in the context of the evolving global landscape.

    The theme of this anniversary conference is “New Challenges for Monetary Policy.” I have just returned from the G7 meeting in Canada, where many of my colleagues expressed confidence in the progress made toward fulfilling their mandates, though they also acknowledged new challenges such as heightened trade policy uncertainty and dealing effectively with more frequent supply shocks.

    To be honest, I felt slightly left out, though not for the first time, because here in Japan we are still grappling with the longstanding challenge of achieving our 2 percent inflation target in a sustainable manner, while being mindful of the implications of the zero lower bound of policy interest rates.

    That said, the nature of our challenge has evolved considerably in recent years. We are now closer to the target than at any time during the last three decades, though we are not quite there. Our recent path has been affected in a unique way by supply shocks.

    MIL OSI Economics –

  • MIL-OSI Banking: Large dividend payments in the first four months of the year

    Source: Danmarks Nationalbank

    Large companies account for the majority of dividend payments

    Novo Nordisk, A.P. Møller – Mærsk, Danske Bank, and Carlsberg account for most of the dividend payments during the first four months of the year. Half of the dividends went to foreign investors, which is approximately the same as last year. Some companies do not only pay dividends at the beginning of the year. This applies, for example, to Novo Nordisk and Danske Bank, which have also distributed dividends in August and July, respectively.

    Sustained high levels of stock repurchases in 2024

    In 2024, Danish listed companies repurchased their own shares for a value of kr. 54 billion. The level was lower than the historically high repurchases in 2021-23, but still higher than in previous years. Share repurchase programs are usually approved at the general meeting. Unlike dividends, they are executed continuously in the same year, rather than as a single payment.

    MIL OSI Global Banks –

  • MIL-OSI: Press Release: GAM Investments Strengthens European Equities Platform with Appointment of Leading Investment Team

    Source: GlobeNewswire (MIL-OSI)

    Zurich: 28 May 2025        

    PRESS RELEASE

    GAM Investments Strengthens European Equities Platform with Appointment of Leading Investment Team

    Tom O’Hara, Jamie Ross and David Barker join GAM Investments to manage flagship GAM Star European Equity and Continental European Equity funds

    GAM Investments is pleased to announce the appointment of a new European Equities team comprising Tom O’Hara, Jamie Ross and David Barker. As of 15 May 2025, the team has assumed investment management responsibilities for the GAM Star European Equity and GAM Star Continental European Equity funds.

    This highly regarded investment team brings with them a style-agnostic, high-conviction investment approach that complements GAM’s longstanding heritage in European equities. The appointment marks a further milestone in GAM’s transformation and ongoing commitment to investment excellence.

    Tom O’Hara, Investment Director, European Equities at GAM, commented: “It’s great to be joining GAM. This is a very exciting time in the company’s turnaround, supported by a long-term focused majority owner and a strong, investment-led culture that traces its roots to Gilbert de Botton. On a personal level, my investing career started thanks to John Bennett – who spent 17 years at GAM managing European Equities and always spoke highly of the firm’s investment ethos. So, it really feels like a natural fit for us to be here.”

    “Our approach will remain consistent with our past. We are managing a concentrated, high-conviction portfolio of around 30 stocks, using our straightforward and repeatable ‘All-in’ framework, added David Barker. This combines expected earnings growth, cash return and valuation change to assess whether a company’s return potential exceeds that of the broader market.”

    A core, consistent and transparent investment process

    While the team brings a fresh perspective, they remain committed to delivering a core, flexible, style-agnostic strategy which builds on the legacies of both GAM and their own history as successful European equity investors. Their process is grounded in fundamental research and offers clear, data-driven insights for clients.

    David Barker highlighted, “We want to be open-source. That means sharing our investment insights, process and return assumptions with clients transparently and consistently across all our communications.”

    A turning point for Europe

    The team also believes the macro backdrop is shifting decisively in Europe’s favour.

    “For decades, cheap valuations alone weren’t enough to catalyse change in Europe. But that’s no longer the case. Geopolitical realignment sparked, in part, by the return of Donald Trump who has done more for EU unity than any post-war president,” said Jamie Ross. “We’re seeing a more assertive Europe: a looser fiscal stance in Germany, more coherent messaging from EU leaders, and growing momentum for innovation, investment, and regulatory simplification.”

    “Europe has a generational opportunity to redefine itself that demands cohesive action across industrial policy, energy security and tech sovereignty. These shifts will create a new generation of winners across the region. We believe this marks a key turning point for the European equity market.”

    Elmar Zumbuehl, Group CEO of GAM Investments, added “We are delighted to welcome Tom, Jamie and David to GAM. Their fresh approach, tight teamwork and use of advanced technology to focus on what really matters fully embraces the transformational changes underway in active investing. Their arrival significantly strengthens our specialist active equity offering and with investor interest returning to Europe, we see this as a powerful step forward for GAM’s specialist active equities platform and our clients.”

    Investors are encouraged to contact their local GAM relationship manager to learn more about the strategies or meet the team through upcoming events, webinars and roadshows.

    Editorial Information:

    Video: Introduction to European Equities at GAM – Tom O’Hara, David Barker and Jamie Ross. https://www.gam.com/en/introducing-gam-investments-european-equities-team

    Team Bios:

    • Tom O’Hara, Investment Director, is responsible for the management of European Equity funds at GAM, alongside Jamie Ross and David Barker. Before joining GAM Investments in May 2025, he spent 7 years managing European equity funds at Janus Henderson Investors. Prior to this, he spent 8 years as a sell side equity research analyst covering the metals and mining sector. He began his career in the treasury of Northern Rock plc. He has 19 years of financial industry experience and received his BA degree (Hons) in economics from Newcastle University. He is passionate about the role of emerging technologies in shaping active investing and was an early investor in Quartr, a Swedish fintech platform, where he continues to serve as a non-executive adviser.
    • David Barker, Investment Manager, is responsible for the management of European Equity funds at GAM. Before joining GAM Investments in May 2025, he was a Research Analyst on the European Equities Team at Janus Henderson Investors, a position he had held since 2021. Prior to this, he was Research Analyst specialising in Aerospace & Defence and Industrials at Bank of America Merrill Lynch, where he started in 2017. David graduated with a BA degree in History from Somerville College, University of Oxford and has 9 years of financial industry experience.
    • Jamie Ross, Investment Manager, is responsible for the management of European Equity funds at GAM. Before joining GAM Investments in May 2025, he was a Portfolio Manager on the European Equities Team at Janus Henderson Investors, a position he had held since 2016. Prior to this, he was a portfolio manager on the UK Equities Team, where he co-managed a UK equities pooled fund. He started his career with Henderson in 2007. Jamie graduated with a BA degree (Hons) in economics from Durham University. He holds the Chartered Financial Analyst designation and has 18 years of financial industry experience.

    For further information please contact:

    Colin Bennett | GAM Media Relations
    T +44 (0) 20 73 938 544 
    colin.bennett@gam.com

    Visit us: www.gam.com
    Follow us: X and LinkedIn

    About GAM

    GAM Investments is a highly scalable global investment platform with strong global distribution capabilities focusing on three core areas, Specialist Active Investing, Alternative Investing and Wealth Management, that is listed in Switzerland. It delivers distinctive and differentiated investment solutions across its Investment and Wealth Management businesses. Its purpose is to protect and enhance clients’ financial future. It attracts and empowers brightest minds to provide investment leadership, innovation and a positive impact on society and the environment. Total assets under management were CHF 16.3 billion as of 31 December 2024. GAM Investments has global distribution with offices in 14 countries and is geographically diverse with clients in almost every continent. Headquartered in Zurich, GAM Investments was founded in 1983, and its registered office is at Hardstrasse 201 Zurich, 8037 Switzerland. For more information about GAM Investments, please visit www.gam.com.

    Other Important Information

    This release contains or may contain statements that constitute forward-looking statements. Words such as “anticipate”, “believe”, “expect”, “estimate”, “aim”, “project”, “forecast”, “risk”, “likely”, “intend”, “outlook”, “should”, “could”, “would”, “may”, “might”, “will”, “continue”, “plan”, “probability”, “indicative”, “seek”, “target”, “plan” and other similar expressions are intended to or may identify forward-looking statements.

    Any such statements in this release speak only as of the date hereof and are based on assumptions and contingencies subject to change without notice, as are statements about market and industry trends, projections, guidance, and estimates. Any forward-looking statements in this release are not indications, guarantees, assurances or predictions of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the person making such statements, its affiliates and its and their directors, officers, employees, agents and advisors and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct and may cause actual results to differ materially from those expressed or implied in any such statements. You are strongly cautioned not to place undue reliance on forward-looking statements and no person accepts or assumes any liability in connection therewith.

    This release is not a financial product or investment advice, a recommendation to acquire, exchange or dispose of securities or accounting, legal or tax advice. It has been prepared without taking into account the objectives, legal, financial or tax situation and needs of individuals. Before making an investment decision, individuals should consider the appropriateness of the information having regard to their own objectives, legal, financial and tax situation and needs and seek legal, tax and other advice as appropriate for their individual needs and jurisdiction.

    Attachments

    The MIL Network –

  • MIL-OSI Banking: Result of the Daily Variable Rate Repo (VRR) auction held on May 28, 2025

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 25,000
    Total amount of bids received (in ₹ crore) 3,843
    Amount allotted (in ₹ crore) 3,843
    Cut off Rate (%) 6.01
    Weighted Average Rate (%) 6.01
    Partial Allotment Percentage of bids received at cut off rate (%) NA

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/420

    MIL OSI Global Banks –

  • MIL-OSI Banking: Money Market Operations as on May 27, 2025

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 5,94,972.31 5.72 0.01-6.60
         I. Call Money 16,118.89 5.80 4.85-5.85
         II. Triparty Repo 4,02,086.45 5.70 5.00-5.76
         III. Market Repo 1,74,981.97 5.73 0.01-6.60
         IV. Repo in Corporate Bond 1,785.00 5.90 5.90-5.95
    B. Term Segment      
         I. Notice Money** 129.00 5.73 5.45-5.85
         II. Term Money@@ 576.00 – 5.95-6.15
         III. Triparty Repo 1,744.15 5.82 5.70-5.85
         IV. Market Repo 259.30 5.84 5.84-5.84
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo Tue, 27/05/2025 1 Wed, 28/05/2025 3,542.00 6.01
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Tue, 27/05/2025 1 Wed, 28/05/2025 902.00 6.25
    4. SDFΔ# Tue, 27/05/2025 1 Wed, 28/05/2025 2,27,421.00 5.75
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -2,22,977.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo Thu, 17/04/2025 43 Fri, 30/05/2025 25,731.00 6.01
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       8,735.56  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     34,466.56  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -1,88,510.44  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on May 27, 2025 9,41,647.71  
         (ii) Average daily cash reserve requirement for the fortnight ending May 30, 2025 9,48,817.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ May 27, 2025 3,542.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on May 02, 2025 2,34,873.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    ^ As per the Press Release No. 2025-2026/91 dated April 11, 2025.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/419

    MIL OSI Global Banks –

  • MIL-OSI Security: Dunklin County Woman Sentenced for Aiding $565,000 Fraud

    Source: Office of United States Attorneys

    CAPE GIRARDEAU – U.S. District Judge on Tuesday sentenced a money mule to fifteen months imprisonment for moving $565,000 in stolen funds.  

    Sheri L. Reeves acted as a money courier or “money mule,” transferring money obtained by fraud to others. On June 9, 2020, Reeves opened an account at a Bank of America branch in Jonesboro, Arkansas, and later added the name of the fraud victim to the account. Reeves’ co-conspirators used fraudulently obtained account information to access the victim’s account and transfer a total of $565,000 to Reeves’ account. She then sent the money to others using cashier’s checks obtained in Tennessee and Arkansas and via a CoinFlip cryptocurrency ATM in Dunklin County.  She also sent her account information to others and withdrew or attempted to withdraw the proceeds in cash or by check, her plea agreement says.

    Despite being warned by the FBI, Reeves continued to assist in the commission of financial crimes.  

    Reeves, 55, of Kennett, in Dunklin County, pleaded guilty in November in U.S. District Court in Cape Girardeau to one count of aiding and abetting bank fraud, one count of conspiracy to commit wire and mail fraud and one count of wire fraud. In addition to the sentence of fifteen months imprisonment, Reeves was ordered to pay $565,000 in restitution to the Bank of America, and to serve a term of five years supervised release upon her release from imprisonment.  

    The case was investigated by the FBI. Assistant U.S. Attorney Paul Hahn prosecuted the case.

    If you believe you are participating in a money mule scheme or a victim of one, please contact the FBI’s Internet Crime Complaints Center at ic3.gov or contact your local FBI office.

    MIL Security OSI –

  • MIL-OSI Russia: IMF Reaches Staff-Level Agreement on the First Review under El Salvador’s Extended Fund Facility Arrangement

    Source: IMF – News in Russian

    May 27, 2025

    End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.

    • IMF staff and the Salvadoran authorities have reached staff-level agreement on the first review of the 40-month extended arrangement under the Extended Fund Facility (EFF). Subject to approval by the IMF Executive Board, El Salvador would receive nearly US$120 million (SDR 86.16 million).
    • Program performance has been strong. Key fiscal and reserve targets were met with margins and substantial progress continues in the ambitious reform agenda in the areas of governance, transparency, and financial resilience.
    • Continued implementation of the fiscal consolidation plan and structural agenda remains critical to address macroeconomic imbalances and create conditions for stronger and more sustainable growth.

    Washington, DC: IMF staff and the Salvadoran authorities have reached staff-level agreement on the first review of the country’s extended arrangement under the Extended Fund Facility (EFF). They also finalized discussion on the 2025 Article IV consultation focused on boosting El Salvador’s medium-term growth prospects.

    Upon the conclusion of these discussions Mr. Cubeddu, Deputy Director of the Western Hemisphere Department, and Mr. Torres, Mission Chief for El Salvador, issued the following statement:

    “IMF staff have reached staff-level agreement with the Salvadoran authorities on the first review under the 40-month EFF arrangement.[1] The agreement is subject to approval by the IMF’s Executive Board, and contingent on the implementation of the agreed prior actions.

    “The authorities have made significant progress in implementing their economic reform plan under the IMF-supported program. Most program targets set for the first review were comfortably met, and implementation of the structural benchmarks is progressing well.  Meanwhile, despite a more challenging external backdrop, El Salvador’s economy continues to expand supported by improved confidence and still robust remittances. Prudent policies and more favorable terms of trade have led to reduction in inflation and the current account deficit.

    Against the backdrop of early strong program implementation, understandings have been reached on policies to continue to secure program objectives, including with the technical support from the Fund and other development partners:

    • The fiscal consolidation will continue this year through cuts in the wage bill and current spending restraint, and plans are being developed to reform the civil service and the pension systems to underpin the adjustment beyond this year. This will be supported by the new Fiscal Sustainability Law, which is expected to be enacted shortly.
    • External buffers will be strengthened further through the accumulation of government deposits at the Central Bank, supported by financing from International Financial Institutions and fiscal discipline. Meanwhile, bank liquidity requirements will be raised in line with program commitments, while bank oversight is strengthened, including of cooperatives.
    • Following the adoption of the Anti-Corruption Law, attention will now focus in securing its proper and timely implementation to complement ongoing efforts to enhance governance, accountability, and transparency, including of the fiscal accounts of the overall public sector.
    • On Bitcoin, efforts will continue to ensure that the total amount of Bitcoin held across all government-owned wallets remains unchanged, consistent with program commitments, while also securing the unwinding of the public sector’s participation in the Chivo wallet by end-July.

    There is a shared understanding that steadfast program implementation and agile policy making, in the context of rising global uncertainties, remain critical to further entrench stability and lay the foundation for stronger and more sustainable growth. IMF staff thank the Salvadoran authorities for the excellent collaboration and constructive discussions.”

    [1] The EFF was approved by the IMF Executive Board on February 26, 2025, with total access of SDR 1033.92 million (about US$1.4 billion or 360 percent of quota), and initial disbursement of SDR 86.16 million. Other official creditors committed to provide additional financial support for a combined total of roughly US$3.5 billion.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Meera Louis

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/05/27/pr-25162-el-salvador-imf-reaches-agreement-on-the-1st-rev-under-eff

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI: Equinor ASA: Execution of debt capital market transactions

    Source: GlobeNewswire (MIL-OSI)

    On Tuesday May 27, 2025 Equinor ASA (OSE:EQNR, NYSE:EQNR), guaranteed by Equinor Energy AS, executed the following debt capital market transactions:

    • Issue of USD 550 million 4.25% Notes due June 2, 2028
    • Issue of USD 400 million 4.50% Notes due September 3, 2030
    • Issue of USD 800 million 5.125% Notes due June 3, 2035

    The net proceeds from the issue of the Notes will be used for general corporate purposes, which may include the repayment or purchase of existing debt or other purposes described in the prospectus supplement for the issue of Notes. The transaction will increase the financial flexibility of the company.

    The offering is scheduled to close on June 3, 2025, subject to the satisfaction of customary conditions.

    Any public offering in the United States is being made solely by means of a prospectus supplement to the prospectus included in the Registration Statement filed by Equinor ASA and Equinor Energy AS, and previously declared effective.

    Further information from:

    Investor relations:
    Bård Glad Pedersen, Senior Vice President, Investor Relations,
    +47 918 01 791

    Press:
    Rikke Høistad Sjøberg, Media Relations,
    +47 901 01 451

    Finance:
    Sverre Serck-Hanssen, Vice President, Capital Markets,
    +47 951 68 342

    This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities of Equinor ASA nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The offering is being made pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (“SEC”). The offering is being made only by means of a prospectus and related prospectus supplement. The prospectus and related preliminary prospectus supplement may be obtained by visiting the SEC’s website at www.sec.gov. Alternatively, you may request these documents by calling (1) Barclays Capital Inc. at 1-888-603-5847, (2) BofA Securities, Inc. at 1-800-294-1322, (3) Deutsche Bank Securities Inc. at 1-800-503-4611, (4) Goldman Sachs & Co. LLC at 1-866-471-2526, or (5) J.P. Morgan Securities LLC at 1-212-834-4533.

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

    The MIL Network –

  • MIL-OSI: FARMERS AND MERCHANTS BANCSHARES, INC. PROVIDES UPDATE ON ITS DIVIDEND REINVESTMENT PLAN AND SEMI-ANNUAL DIVIDEND

    Source: GlobeNewswire (MIL-OSI)

    HAMPSTEAD, Md. , May 27, 2025 (GLOBE NEWSWIRE) — Farmers and Merchants Bancshares, Inc. (the “Company”), the parent of Farmers and Merchants Bank (the “Bank”), filed a Registration Statement on Form S-1 (the “Registration Statement”) with the Securities and Exchange Commission the “SEC”) for the purpose of registering shares of the Company’s common stock for issuance under a new 2025 Dividend Reinvestment Plan (the “2025 DRIP”). The 2025 DRIP will replace the dividend reinvestment plan that the Company implemented in May 2017 under which no further shares remain available for issuance. The Registration Statement is not complete and is subject to review by, and must be declared effective by, the SEC before the Company can offer or sell any shares under the 2025 DRIP.

    Because the Company cannot predict when or if the SEC will complete its review of the Registration Statement and declare it effective, and to allow stockholders sufficient time after the Registration Statement is declared effective to enroll in the 2025 DRIP, the Company’s Board of Directors has determined to delay the declaration of the semi-annual cash dividend. Although the Company can make no assurances, it anticipates that such dividend will be declared in June 2025. This one-time deviation to accommodate the 2025 DRIP does not represent an intention by the Company’s Board of Directors to alter its historical practice of declaring semi-annual cash dividends going forward.

    The information set forth in this press release is not an offer to sell, or a solicitation of an offer to buy, any securities, or a solicitation of consents with respect to any securities. Offers and sales under the 2025 DRIP may be made only pursuant to a final prospectus that will be included in the Registration Statement and distributed to stockholders if and when the Registration Statement is declared effective.

    Caution Regarding Forward-Looking Statements

    Certain statements in this report may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” and “will” and variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are based on current expectations, estimates and projections about, among other things, the industry and the markets in which the Company operates, are not guarantees of future performance, and involve risks, assumptions and uncertainties, including, but not limited to, risks related to the SEC’s review of the Registration Statement in the anticipated timeframe or at all. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results anticipated will be realized, or if substantially realized, will have the expected consequences on our business or operations. These and other risks are discussed in detail in the registration statements and periodic reports that the Company files with the SEC (see Item 1A of Part I of the Company’s Annual Report on Form 10-K, as amended, for the year ended December 31, 2024. Except as required by applicable laws, the Company does not intend to publish updates or revisions of any forward-looking statements that the Company makes to reflect new information, future events or otherwise.

    About Farmers and Merchants Bancshares, Inc.

    The Company is a financial holding company and the parent company of the Bank. The Bank was chartered in Maryland in 1919 and has over 100 years of service to the community. The Bank serves the deposit and financing needs of both consumers and businesses in Carroll and Baltimore Counties along the Route 30, Route 795, Route 140, Route 26, and Route 45 corridors. The main office is located in Upperco, Maryland, with seven additional branches in Owings Mills, Hampstead, Greenmount, Reisterstown, Westminster, Eldersburg, and Towson. Certain broker-dealers make a market in the common stock of Farmers and Merchants Bancshares, Inc., and trades are reported through the OTC Markets Group’s Pink Market under the symbol “FMFG”.

    FOR FURTHER INFORMATION CONTACT:

    Mr. Gary A. Harris
    President & CEO
    (410) 374-1510, Ext. 1104

    Farmers and Merchants Bancshares, Inc.
    4510 Lower Beckleysville Rd, Suite H
    Hampstead, Maryland 21074

    The MIL Network –

  • MIL-OSI USA: Grassley, Cornyn Introduce Bipartisan Bill to Safeguard Consumers’ Genetic Data After 23andMe Bankruptcy Sparks Privacy Concerns

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley
    WASHINGTON – Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa) joined Sens. John Cornyn (R-Texas) and Amy Klobuchar (D-Minn.) to introduce the Don’t Sell My DNA Act to safeguard consumers’ sensitive genetic data during corporate bankruptcy proceedings.
    The Don’t Sell My DNA Act strengthens consumer privacy protections by:
    Modernizing the Bankruptcy Code to include genetic information in the definition of “personally identifiable information”;
    Requiring written notice and affirmative consumer consent prior to the use, sale or lease of genetic information during bankruptcy proceedings; and
    Requiring the trustee or debtor in possession of genetic information to permanently delete any data not subject to a sale or lease.
    “Consumers should feel confident that any personal information shared with a public company isn’t up for grabs when that company files for bankruptcy,” Grassley said. “This bill would fill gaps in current law to help safeguard consumers’ genetic information and ensure Americans’ DNA isn’t treated like any other financial asset.”
    “Advances in DNA testing have allowed Americans to have unprecedented access to important insights about their genetics, but these companies must have a plan to protect this data in the event of bankruptcy,” Cornyn said. “By updating the bankruptcy code, this legislation would safeguard Americans’ sensitive genetic information to ensure it cannot be weaponized against them or made public without their knowledge and consent.”
    “For too long companies have profited off of Americans’ data while consumers have been left in the dark, which is especially concerning in light of reports that 23andMe plans to sell customer genetic data assets to a large pharmaceutical company,” Klobuchar said. “This bill will put new protections in place to safeguard Americans’ privacy while giving consumers greater control over how their sensitive health data is shared.”
    Audio of Grassley discussing the bill is available HERE.
    Read the full bill text HERE.
    Background:
    Recent bankruptcies of genetic testing and biotech companies – such as 23andMe – have raised concerns about the protection of consumers’ sensitive genetic data.
    Under current law, the Bankruptcy Code prohibits entities from selling off “personally identifiable information,” which prevents identity theft, financial fraud and the unauthorized use of personal information. While the current definition of “personally identifiable information” includes an individual’s name, address, email, phone number, social security number and credit card number, it does not include protections for genetic information. This legislation closes that gap.
    -30-

    MIL OSI USA News –

  • MIL-OSI USA: AFTER HOUSE GOP VOTED TO MAKE LARGEST CUT TO FOOD ASSISTANCE IN HISTORY – IMPACTING 108,000 IN CENTRAL NY – SCHUMER WITH SYRACUSE-CNY FAITH LEADERS IN OSWEGO COUNTY WHICH HAS AMONG HIGHEST FOOD…

    US Senate News:

    Source: United States Senator for New York Charles E Schumer
    Schumer Says Trump’s ‘One Big Beautiful Bill’ Will Be Ugly For Hardworking NY Families, Decimating Healthcare & Funding For Local Hospitals, Raising Energy Costs By Slashing $$ For Clean Energy Projects Across NY & Raising Costs For Counties Across The Board By Shifting The Costs For Vital Programs Like SNAP & Medicaid
    Already The Foodbank of CNY Is Preparing To Lose ~2 Million Pounds Of Food Due To Trump’s Cruel USDA Cuts & Now With GOP Voting To Make Largest SNAP Cut In History; Senator, With Syracuse Church Leaders & Advocates, Says Double Whammy Could Hurtle Central NY & Oswego County Which Has Highest Food Insecurity In All NYS Into To A Hunger Crisis
    Schumer: No Child In Central NY Deserves To Go To Bed Hungry
    After House Republicans just last week voted to pass the largest cut to the anti-hunger program SNAP in American history, U.S. Senator Chuck Schumer stood in Central New York’s hunger hotspot, Oswego County, which has one of the top 5 highest rates of food insecurity in all of NY, with religious leaders, food banks, and farmers on the frontlines of the local fight against hunger to show the devastating local impacts the massive proposed $300 billion SNAP cut to fund Trump’s tax breaks for corporations & billionaires. Over 108,000 in Central NY rely on these anti-hunger programs for food, and Schumer joined with church leaders to detail exactly why these new cuts would be so harmful, and demand that the GOP stop this devastating assault that could hurtle Rochester and millions of others across America to a hunger crisis.
    “Last week, in the dark of night, House Republicans rushed to pass their so-called ‘Big Beautiful Bill’ in the hopes that their massive cuts to American families would go unnoticed. We are here in Oswego County which has some of the highest rates of food insecurity in New York to ensure that doesn’t happen. We are here to shine a light on how the largest cut to food assistance in history could hurtle 108,000 Central New York kids, seniors, and families into a hunger crisis,” said Senator Schumer. “Trump already canceled more than a million pounds of U.S. farm-grown food headed to hungry families in Central New York, and these cuts would be a double whammy. This is not a partisan issue, it is a moral issue. I’m here with our food banks, faith leaders, and farmers on the frontlines to stand up to protect these programs and stop this cruel cut to SNAP. Stealing from anti-hunger programs that feed Central New York families to pay for Trump’s tax breaks for corporations & billionaires is as backwards as it gets. There is nothing beautiful about cutting SNAP so children go hungry and can’t learn or have productive lives. Senate Democrats are united in opposing this cruel bill, and we are united with the people to demand the GOP block these SNAP cuts. Otherwise, it will be families here in Central New York that go hungry.”
    Schumer explained how Trump’s USDA has already cruelly canceled $1 billion in food assistance, and his FEMA has indefinitely frozen over $130 million in previously allocated funds, hurting every level of food distribution from regional food banks like the Food Bank of CNY to local food pantries like Catholic Charities Oswego Food Pantry. If these SNAP cuts move forward it would be a triple whammy for Central NY, hurtling the region’s ongoing hunger crisis to unforeseen levels. The Supplemental Nutrition Assistance Program (SNAP) is a lifeline for nearly 3 million NY seniors, veterans and families who rely on the critical funding to purchase groceries. Schumer said that we should be investing more not less in anti-hunger programs, but under the Republican proposal, the average family would be reduced to just $5.00 per day per person. A breakdown of SNAP recipients in Central New York from the Center for American Progress can be found below:

    County

    SNAP Recipients

    % of County on SNAP

    SNAP Retailers

    Cayuga

    9,215

    12.3%

    57

    Cortland

    5,933

    12.9%

    52

    Madison

    6,585

    9.8%

    68

    Onondaga

    68,796

    14.6%

    455

    Oswego

    18,184

    15.4%

    109

    TOTAL

    108,713

     

    741

    Last week, House Republicans passed a bill that would rip $300 billion away from SNAP. This proposal would impact Central New York residents in many ways, including the addition of a work requirement which would raise the age to access SNAP benefits from age 55 to age 64 and only exempt SNAP recipients from work requirements if they have someone younger than 7 years old in their household, down from the current exemption for all families with children under 18 years old.
    Schumer said, “I’m all for reducing any waste or fraud to make the program more efficient, but rushing to pass these massive damaging cuts with no plan while they slash our food banks is a recipe for disaster. Republicans are tying themselves in knots trying to justify these massive cuts. I ask my Republican friends this: which category does a hungry 7 year old fall under: are they waste? Are they fraud? Or are they abuse?”
    Schumer explained the Republican proposal to cut $300 billion from SNAP would inevitably mean costs of feeding families shift to states, who simply do not have the capacity to absorb this massive increase in expenses, risking families going hungry. Under this Republican proposal, states would be required to pay 5 – 25% of their state’s SNAP benefits based on the state’s error rate. According to the Center on Budget and Policy Priorities (CBPP), mandating New York State to cover even a modest share of SNAP benefits would shift astronomical costs to the state, with even just 5% increasing New York State’s costs by nearly $3.5 billion from FY2026 to FY2034. The senator said it is impossible to cut this much from federal SNAP funding without ripping food away from hungry children, seniors, veterans, people with disabilities, and more.
    These agonizing decisions would be amplified even further at the local level, with non-profits, many of whom have already had their funding cut, unable to fill in the gap. Counties could even be forced to shoulder the burden of increased costs in SNAP, using more local dollars to provide coverage because less federal funding will be coming in. During recessions or economic downturns, these impacts will be even more acute, as more people apply for benefits and state revenue declines, more children, seniors, veterans, people with disabilities, and more will be turned away from this vital program due to insufficient federal funding.
    According to CBPP, 20,000 people in NY-22 and 14,000 people in NY-24 reside in households with adults ages 18-64 with school-age children and would likely lose SNAP benefits under this Republican proposal, and Schumer said that is only the tip of the iceberg.
    The proposed SNAP cuts would be a blow to Central New York food banks which have already been hit hard by Trump’s funding freezes and canceled payments. Earlier this year, the USDA canceled $1 billion in food assistance for organizations to purchase locally grown food. USDA programs provide food banks, schools, and other organizations with federal support to purchase local food products from NY farms. At FEMA, $130 million in previously allocated funding for the Emergency and Food and Shelter Program has been indefinitely frozen since January. The program helps local nonprofit organizations provide food and shelter individuals and families who are experiencing, or at risk of experiencing, hunger or homelessness.
    Trump’s USDA and FEMA cuts have already hit Central New York hard. At the Food Bank of CNY, which delivered over 22.9 million pounds of food and over 19 million meals to families across 11 Upstate NY counties in 2024, USDA cuts have already caused a loss of over $450,000 and may cause additional losses of up to $1 million per year, translating to an estimated 500,000 pounds of food and 100,000 meals annually. At Catholic Charities of Oswego County, which served 2,213 adults, 1,368 children, and 360 seniors in 2024, FEMA cuts will slash as much as $14,000 from their food pantry in Fulton, forcing them to cut back on hundreds if not thousands of meals each year. Elsewhere in Oswego County, USDA cuts jeopardize food security for the 10,000 people served by Oswego County Opportunities last year, including 150 people suffering from intellectual or developmental disabilities, mental illnesses, chemical addiction, or homelessness, and more than 50 families with pre- / post-partem women and infant children. In Onondaga County, USDA cuts have meant less food available, unhealthier options, and increased competition. At the Interfaith Community Collective food pantry in Syracuse, USDA cuts have already forced pantry staff to reduce the amount of meals served, shorten meal service time, and even turn people away hungry. At New Americans Blessing Box, USDA cuts have made it more difficult to find fresh foods like vegetables, fruits, and meats, as well as culturally targeted foods like Halal chicken, jasmine rice, and spices.
    Schumer said these proposed cuts will limit food banks’ ability to keep shelves stocked as more people have been forced to rely on food banks to feed their families. Food bank workers and religious leaders across Upstate New York are concerned about the impact of potential cuts to SNAP on the people they serve, and farmers are worried there will be nowhere to sell their food if SNAP funding levels drop.
    “No matter which way you slice it, this Congressional Republican plan will screw Central New York families, food banks and farmers from farm to table. We need everyone to stand up to these cuts that would take away food from our neighbors in need,” added Schumer.
    Murray Gould, Food Pantry Director, St. Lucy’s Church of Syracuse, “We at St. Lucy’s Church are grateful for the efforts of Senator Schumer for highlighting this critical issue. We have seen a 40% increase in people seeking our assistance at our pantry in the last nine months. We do know that approximately 75% of our clients receive snap benefits. The proposed reduction in snap as well as the devastating decrease in funding to the food. SNAP cuts will be creating more hunger in our communities. As a faith based community in our neighborhood, these proposed changes can only be described as cruel.”
    Maura Ackerman, Executive Director of the Syracuse-Onondaga Food Systems Alliance, said, “SNAP is one of the most powerful tools we have to fight hunger and poverty, especially for families with children. In a city like Syracuse – with the highest child poverty rate among U.S. cities with populations over 100,000 – that support is not just meaningful, it’s essential. Every SNAP dollar feeds a neighbor and strengthens our local economy, generating nearly twice its value in economic activity. This is about investing in our kids, our communities, and our collective future. We can’t let politics stand in the way of basic human needs. We’re grateful to Senator Schumer for championing this commonsense, bipartisan priority. Making sure children have enough to eat should never be up for debate.”
    Brian Reeves, Owner, Reeves Farm said, “Cuts to food assistance programs have several negative impacts to our communities; fewer people receive adequate nutrition, farmers sell less of their production, and any excess unsold production can over supply the marketplace and drive down the price the farmer receives for the food which does get sold. On behalf of farmers across New York, I would like to thank Senator Schumer for fighting to ensure that critical SNAP dollars keep flowing to help farms like mine continue providing fresh, nutritious, locally grown food to the members of our community who need it the most.”
    Sheila Dion, Founder & Director, Erin’s Angels of CNY said, “Hunger is not a political issue, it is a human issue. Cutting SNAP benefits is not just a budget decision—it’s a moral decision. Oswego County is often cited among the New York Counties with the highest rates of child food insecurity. According to Feeding America, seventy six percent of the families in Oswego County are income eligible for federal nutrition programs. Every day, we see firsthand the impact hunger has on children in our community. These proposed cuts would leave thousands of kids without the nutrition they need to grow, learn, and thrive. At Erin’s Angels, we fill the weekend gap, but SNAP is the lifeline that helps families feed their children the rest of the week. Undermining this program would deepen food insecurity across the country—and hurt the most vulnerable among us. We would like to thank Senator Chuck Schumer for helping to raise awareness of this very important issue and for advocating for the hungry in New York State and in Oswego County. By denouncing SNAP cuts, highlighting the negative effects these cuts will have on millions of New York residents, calling for a coalition to oppose these devastating cuts, demanding action from New York state republicans to oppose these cuts and protect SNAP, securing funding for food banks, advocating for farmers and visiting food banks across the state he has consistently demonstrated his commitment to addressing hunger and supporting those facing food insecurity in New York State.”
    Roseann Bayne, Assistant Superintendent for Instruction, CiTi BOCES said, “Cuts to SNAP will deepen the crisis of food insecurity in Oswego County—already among the highest in New York State. Over 26% of adults here are food insecure, and nearly one in four school-age children live in poverty—well above state and national averages. Even small cuts in benefits could push many from low food security into true hunger, especially seniors surviving on below-average Social Security and limited retirement income. And our students? Many arrive at school undernourished, disadvantaged before the day even begins—struggling at times to focus, learn, or thrive. SNAP isn’t about handouts; it’s a lifeline for families, seniors, and individuals doing their best to get by. Many folks here work full-time and still earn far less than the ALICE survival budget. Opinions and misinformed judgment don’t feed people. Policy rooted in compassion and facts does. On behalf of CiTi BOCES, I thank Senator Schumer for coming to Oswego County to advocate for the critical SNAP funds that our community depends on.”
    Peter O. Nwosu, President, SUNY Oswego said, “At SUNY Oswego, we recognize that students cannot achieve academic success while facing food insecurity. That’s why, through our Empire State Service Corps, we’ve established a dedicated team of students who provide peer-to-peer support to help their classmates apply for SNAP benefits. This work reduces barriers and empowers students to focus on their education without the burden of basic needs insecurity. We are committed to sustaining this and other vital services to help our students succeed. We are grateful to Senator Schumer for his ongoing advocacy to expand and protect SNAP access for college students. His continued leadership is instrumental in ensuring that higher education remains accessible and equitable for all.”
    Josh Stephani, Director, Adirondack Food System Network said, “Federal cuts to SNAP have disastrous implications the communities across the Adirondacks, our most vulnerable individuals, and further threaten our food system. Nearly one third of our population is supported by SNAP – children, seniors, and many families are supported through this important program. Alongside rising costs for transportation, housing, and living in the region, many families are already struggling to provide for their families without enough resources. These vital programs work to support our economy and provide for our families in need. Specifically, by cutting SNAP, we are placing further economic hardships on our North Country communities, reducing the $300 million economic benefit of this program into our Adirondack region and putting the health of our neighbors at risk. For the communities who call this place home, these programs are a vital lifeline for their moments of need. On behalf of the Adirondack Food System Network, we thank Senator Schumer for his continued advocacy for these critical and lifesaving programs for our communities, New Yorkers, and the entire country. The Adirondacks are often seen as the last mile for essential services, and we are proud to have the Senator as an advocate for the North Country advocating on our behalf.”
    Proposed rollbacks to the country’s most widely utilized nutrition assistance program would strain budgets for Central New York families. Schumer said decimating funding for SNAP right as costs at grocery stores across the country are skyrocketing will hit Central New York hard. According to the New York State Community Action Association, more than 17% of people in Oswego County live in poverty, including nearly 25% of children. According to No Kid Hungry, over half of New Yorkers reported going into debt in the past year due to rising food costs, with over 60% of families with children. In Oswego County, more than 26% of adults self-report as food insecure per the NYS Department of Health, and over 20% of children are food insecure according to Feeding America. With 1 in 4 adults and 1 in 5 children suffering from food insecurity, Oswego County food insecurity is the highest of any county in Central New York.
    SNAP not only supplements families’ food budgets, it has also generated great economic benefits for New York State and NY-24 specifically. According to the National Grocers Association, grocery stores across New York State sold over $2.1 billion in groceries to people using SNAP benefits, including $103.3 million in NY-24. This created more than 18,500 New York jobs in the grocery industry, including 910 in NY-24, and generated more than $820.8 million in grocery industry wages, including $40.2 million in NY-24.

    MIL OSI USA News –

  • MIL-OSI: GDS Announces Launch of Proposed Public Offering of ADSs

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, China, May 27, 2025 (GLOBE NEWSWIRE) — GDS Holdings Limited (“GDS Holdings”, “GDS” or the “Company”) (NASDAQ: GDS; HKEX: 9698), a leading developer and operator of high-performance data centers in China, today announced the commencement of a proposed offering of 5,200,000 American Depositary Shares (“ADSs”), each representing eight Class A ordinary shares, par value US$0.00005 per share, subject to market and other conditions, in an underwritten registered public offering (the “Primary ADSs Offering”). The underwriters will have a 30-day option to purchase up to 780,000 additional ADSs.

    The Company will receive all of the net proceeds from the Primary ADSs Offering and plans to use such net proceeds for general corporate purposes, working capital needs and the refinancing of its existing indebtedness, including potential future negotiated repurchases, or redemption upon exercise of the investor put right, of its convertible bonds due 2029.

    The Company also announced today by separate press release that the Company has commenced a proposed offering (the “Notes Offering”) of convertible senior notes in an aggregate principal amount of US$450 million due 2032 (the “Notes”), subject to market conditions and other factors, in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company expects to grant the initial purchasers in the Notes Offering an option to purchase up to an additional US$50 million in aggregate principal amount of the Notes, exercisable for settlement within a 13-day period, beginning on, and including, the first date on which the Notes are issued.

    The Company also announced today by separate press release that the Company has commenced a separate registered public offering (the “Delta Placement of Borrowed ADSs”) of a certain number of its ADSs (the “Borrowed ADSs”) that the Company will lend to an affiliate (the “ADS Borrower”) of an initial purchaser in the Notes Offering in order to facilitate privately negotiated derivative transactions by some holders of the Notes for purposes of hedging their investment in the Notes. The Company expects to enter into an ADS lending agreement (the “ADS Lending Agreement”) with an affiliate of the initial purchaser of the Notes Offering (such affiliate being the “ADS Borrower”), pursuant to which the Company will lend the Borrowed ADSs to the ADS Borrower. The ADS Borrower or its affiliate will receive all of the proceeds from the sale of the Borrowed ADSs and the Company will not receive any of those proceeds, but the ADS Borrower will pay the Company a nominal lending fee for the use of those ADSs pursuant to the ADS Lending Agreement. The activity described above could affect the market price of the Company’s ADSs otherwise prevailing at that time.

    Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy any securities, including the Notes, the Borrowed ADSs or the Primary ADSs, nor shall there be any offer or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The Delta Placement of Borrowed ADSs and the Primary ADSs Offering are being made only by means of separate prospectus supplements and accompanying prospectuses pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission (the “SEC”). The closing of each of the Notes Offering, the Delta Placement of Borrowed ADSs and the Primary ADSs Offering is conditioned upon the closing of each of the other offerings and vice versa. If the concurrent Notes Offering is not consummated, the Primary ADSs Offering will terminate, the ADS loan under the ADS Lending Agreement will terminate, and the concurrent Delta Placement of Borrowed ADSs will terminate and all of the Borrowed ADSs (or ADSs fungible with the Borrowed ADSs or other substitute securities or property as provided for in the ADS Lending Agreement) must be returned to the Company.

    J.P. Morgan, BofA Securities, Morgan Stanley and UBS Investment Bank are acting as joint book-running managers, and China Galaxy International and Guotai Junan International are acting as financial advisors for the Primary ADSs Offering.

    The Company has filed an automatic shelf registration statement on Form F-3 with the SEC. A prospectus supplement and the related base prospectus describing the terms of the Primary ADSs Offering have been filed with the SEC. When available, the final prospectus supplement for the Primary ADSs Offering will be filed with the SEC. The Primary ADSs Offering is being made only by means of the prospectus supplement and accompanying base prospectus. Before you invest, you should read the prospectus supplement and the accompanying base prospectus and other documents that the Company has filed with the SEC for more complete information about the Company and the offering. You may obtain these documents free of charge by visiting EDGAR on the SEC website at www.sec.gov. Copies of the prospectus supplement and the accompanying base prospectus may be obtained by contacting: (i) J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmchase.com; (ii) BofA Securities, Inc., One Bryant Park, New York, NY, 10036, Attention: Prospectus Department, telephone: +1 (800) 294-1322, email: dg.prospectus_requests@bofa.com; (iii) Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or (iv) UBS Investment Bank, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, by telephone: (888) 827-7275 or email: ol-prospectusrequest@ubs.com.

    About GDS Holdings Limited

    GDS Holdings Limited (NASDAQ: GDS; HKEX: 9698) is a leading developer and operator of high-performance data centers in China. The Company’s facilities are strategically located in and around primary economic hubs where demand for high-performance data center services is concentrated. The Company’s data centers have large net floor area, high power capacity, density and efficiency, and multiple redundancies across all critical systems. GDS is carrier and cloud-neutral, which enables its customers to access the major telecommunications networks, as well as the largest PRC and global public clouds, which are hosted in many of its facilities. The Company offers co-location and a suite of value-added services, including managed hybrid cloud services through direct private connection to leading public clouds, managed network services, and, where required, the resale of public cloud services. The Company has a 24-year track record of service delivery, successfully fulfilling the requirements of some of the largest and most demanding customers for outsourced data center services in China. The Company’s customer base consists predominantly of hyperscale cloud service providers, large internet companies, financial institutions, telecommunications carriers, IT service providers, and large domestic private sector and multinational corporations. The Company also holds a non-controlling 35.6% equity interest in DayOne Data Centers Limited which develops and operates data centers in International markets.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “continue,” “estimate,” “expect,” “future,” “guidance,” “intend,” “is/are likely to,” “may,” “ongoing,” “plan,” “potential,” “target,” “will,” and similar statements. Among other things, statements that are not historical facts, including statements about GDS Holdings’ beliefs and expectations regarding the Notes Offering, Delta Placement of Borrowed ADSs and the Primary ADSs Offering, the growth of its businesses and its revenue for the full fiscal year, the business outlook and quotations from management in this announcement, as well as GDS Holdings’ strategic and operational plans, are or contain forward-looking statements. GDS Holdings may also make written or oral forward-looking statements in its periodic reports to the SEC on Forms 20-F and 6-K, in its current, interim and annual reports to shareholders, in announcements, circulars or other publications made on the website of the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause GDS Holdings’ actual results or financial performance to differ materially from those contained in any forward-looking statement, including but not limited to the following: GDS Holdings’ goals and strategies; GDS Holdings’ future business development, financial condition and results of operations; the expected growth of the market for high-performance data centers, data center solutions and related services in China and regions in which GDS’ major equity investees operate, such as South East Asia; GDS Holdings’ expectations regarding demand for and market acceptance of its high-performance data centers, data center solutions and related services; GDS Holdings’ expectations regarding building, strengthening and maintaining its relationships with new and existing customers; the results of operations, growth prospects, financial condition, regulatory environment, competitive landscape and other uncertainties associated with the business and operations of our significant equity investee DayOne; the continued adoption of cloud computing and cloud service providers in China and other major markets that may impact the results of our equity investees, such as South East Asia; risks and uncertainties associated with increased investments in GDS Holdings’ business and new data center initiatives; risks and uncertainties associated with strategic acquisitions and investments; GDS Holdings’ ability to maintain or grow its revenue or business; fluctuations in GDS Holdings’ operating results; changes in laws, regulations and regulatory environment that affect GDS Holdings’ business operations and those of its major equity investees; competition in GDS Holdings’ industry in China and in markets that affect the business of our major equity investees, such as South East Asia; security breaches; power outages; and fluctuations in general economic and business conditions in China and globally, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in GDS Holdings’ filings with the SEC, including its annual report on Form 20-F, and with the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release and are based on assumptions that GDS Holdings believes to be reasonable as of such date, and GDS Holdings does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For investor and media inquiries, please contact:

    GDS Holdings Limited
    Laura Chen
    Phone: +86 (21) 2029-2203
    Email: ir@gds-services.com

    Piacente Financial Communications
    Ross Warner
    Phone: +86 (10) 6508-0677
    Email: GDS@tpg-ir.com

    Brandi Piacente
    Phone: +1 (212) 481-2050
    Email: GDS@tpg-ir.com

    GDS Holdings Limited

    The MIL Network –

  • MIL-OSI: Gevo Promotes Leke Agiri to Chief Financial Officer

    Source: GlobeNewswire (MIL-OSI)

    ENGLEWOOD, Colo., May 27, 2025 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO), is pleased to announce the appointment of Oluwagbemileke (Leke) Agiri as Chief Financial Officer, effective as of May 21, 2025. Mr. Agiri succeeds L. Lynn Smull, who will continue with the Company in a new role as Executive Vice President and Senior Advisor to the Chief Executive Officer, focusing on strategic initiatives and to aide and support a seamless transition.

    Mr. Agiri brings extensive experience and leadership in corporate finance, capital markets, and strategic growth, both organic and inorganic. Since joining Gevo in August 2022, he has served in key leadership roles, most recently as Executive Vice President, Finance, where he has been instrumental in driving financial strategy and planning. His prior experience includes finance positions in the renewable energy and energy sectors at organizations including Bank of America (BAC), Occidental Petroleum Corporation (OXY) and Anadarko Petroleum Corporation (APC). Mr. Agiri earned a Masters in Business Administration in Finance and Energy from Jones Graduate School of Business at Rice University and a Bachelor of Science in Chemical Engineering from the University of Virginia.

    “We’ve been developing Leke to replace me as the CFO as I approach retirement in my future. Leke has stepped up to every challenge that we have thrown at him. I look forward to a smooth transition with him. It’s my duty to make sure I can help Gevo in any way possible. I also look forward to bringing my skills to bear on some of the exciting projects that Gevo is developing,” said Lynn Smull, Executive Vice President and former CFO of Gevo.

    “Leke has been an integral part of our finance team and has demonstrated outstanding leadership and expertise in advancing Gevo’s mission,” said Patrick Gruber, CEO of Gevo. “His appointment reflects our long–term succession planning and confidence in his ability to help lead Gevo through its next phase of growth.

    This leadership evolution reflects Gevo’s commitment to building a strong, future-ready team capable of executing on its ambitious goals for innovation and value creation.”

    About Gevo
    Gevo is a next-generation diversified energy company committed to fueling America’s future with cost-effective, drop-in fuels that contribute to energy security, abate carbon, and strengthen rural communities to drive economic growth. Gevo’s innovative technology can be used to make a variety of renewable products, including synthetic aviation fuel (“SAF”), motor fuels, chemicals, and other materials that provide U.S.-made solutions. By investing in the backbone of rural America, Gevo’s business model includes developing, financing, and operating production facilities that create jobs and revitalize communities. Gevo owns and operates one of the largest dairy-based renewable natural gas (“RNG”) facilities in the United States, turning by-products into clean, reliable energy. We also operate an ethanol plant with an adjacent carbon capture and sequestration (“CCS”) facility, further solidifying America’s leadership in energy innovation. Additionally, Gevo owns the world’s first production facility for specialty alcohol-to-jet (“ATJ”) fuels and chemicals. Gevo’s market-driven “pay for performance” approach regarding carbon and other sustainability attributes, helps ensure value is delivered to our local economy. Through its Verity subsidiary, Gevo provides transparency, accountability, and efficiency in tracking, measuring, and verifying various attributes throughout the supply chain. By strengthening rural economies, Gevo is working to secure a self-sufficient future and to make sure value is brought to the market.

    For more information, see www.gevo.com.

    Forward-Looking Statements
    Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including the promotion of Leke Agiri, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2024, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

    Media Contact
    Heather L. Manuel
    VP, Stakeholder Engagement & Partnerships
    PR@gevo.com

    Investor Contact
    Eric Frey, PhD
    Vice President of Finance & Strategy
    IR@gevo.com

    The MIL Network –

  • MIL-OSI: XAI Octagon Floating Rate & Alternative Income Trust Will Host its Q1 2025 Quarterly Webinar on June 4, 2025

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, May 27, 2025 (GLOBE NEWSWIRE) — XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) (the “Trust”) today announced that it plans to host the Trust’s Quarterly Webinar on June 4, 2025 at 12:00 pm (Eastern Time). Kevin Davis, Managing Director at XA Investments (“XAI”) will moderate the Q&A style webinar with Kimberly Flynn, President at XAI, and Lauren Law, Senior Portfolio Manager at Octagon Credit Investors.

    TO JOIN VIA WEB: Please go to the Knowledge Bank section of xainvestments.com or click here to find the online registration link.

    TO USE YOUR TELEPHONE: After joining via web, if you prefer to use your phone for audio, you must select that option and call in using a number below, based on your current location.

    Dial: (312) 626-6799 or (646) 558-8656 or (267) 831-0333 or (213) 338-8477 or (720) 928-9299
    Webinar ID: 817 1030 7383

    REPLAY: A replay of the webinar will be available in the Knowledge Bank section of xainvestments.com.

    The investment objective of the Trust is to seek attractive total return with an emphasis on income generation across multiple stages of the credit cycle. The Trust seeks to achieve its investment objective by investing in a dynamically managed portfolio of opportunities primarily within the private credit markets. Under normal market conditions, the Trust will invest at least 80% of its Managed Assets in floating rate credit instruments and other structured credit investments. There can be no assurance that the Trust will achieve its investment objective.

    The Trust’s common shares are traded on the New York Stock Exchange under the symbol “XFLT,” and the Trust’s 6.50% Series 2026 Term Preferred Shares are traded on the New York Stock Exchange under the symbol “XFLTPRA.”

    About XA Investments
    XA Investments LLC (“XAI”) serves as the Trust’s investment adviser. XAI is a Chicago-based firm founded by XMS Capital Partners in April 2016. In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds to meet institutional client needs. XAI offers custom product build and consulting services, including development and market research, sales, marketing, fund management and administration. XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. XAI provides individual investors with access to institutional-caliber alternative managers. For more information, please visit www.xainvestments.com.

    About XMS Capital Partners
    XMS Capital Partners, LLC, established in 2006, is a global, independent, financial services firm providing M&A, corporate advisory and asset management services to clients. It has offices in Chicago, Boston and London. For more information, please visit www.xmscapital.com.

    About Octagon Credit Investors
    Octagon Credit Investors, LLC (“Octagon”) serves as the Trust’s investment sub-adviser. Octagon is a 30+ year old, $33.1B below-investment grade corporate credit investment adviser focused on leveraged loan, high yield bond and structured credit (collateralized loan obligation debt and equity) investments. Through fundamental credit analysis and active portfolio management, Octagon’s investment team identifies attractive relative value opportunities across below-investment grade asset classes, sectors and issuers. Octagon’s investment philosophy and methodology encourage and rely upon dynamic internal communication to manage portfolio risk. Over its history, the firm has applied a disciplined, repeatable and scalable approach in its effort to generate attractive risk-adjusted returns for its investors. For more information, please visit www.octagoncredit.com.

    XAI does not provide tax advice; please consult a professional tax advisor regarding your specific tax situation. Income may be subject to state and local taxes, as well as the federal alternative minimum tax.

    Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the Trust carefully before investing. For more information on the Trust, please visit the Trust’s webpage at www.xainvestments.com.

    This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

    NOT FDIC INSURED        NO BANK GUARANTEE    MAY LOSE VALUE
             
        Paralel Distributors, LLC – Distributor    
             

    Media Contact:

    Kimberly Flynn, President
    XA Investments LLC
    Phone: 312-374-6931
    Email: kflynn@xainvestments.com
    www.xainvestments.com

    The MIL Network –

  • MIL-OSI Economics: Philip R. Lane: Interview with Frankfurter Allgemeine Zeitung

    Source: European Central Bank

    Interview with Philip R. Lane, Member of the Executive Board of the ECB, conducted by Christian Siedenbiedel on 20 May 2025

    27 May 2025

    Mr Lane, inflation rates in the euro area have fallen sharply since autumn 2022. Has inflation been beaten?

    As you say, inflation rates were temporarily above 10 per cent in 2022. Over the past two years, we have focused on bringing inflation back down to 2 per cent. This task has now mostly been completed. I am saying “mostly” because some final steps still need to be taken. For example, services inflation is still too high. But we expect it to decline in the coming months, as we think wage inflation is coming down. So the disinflation from the high inflation of 2022 is on track – but unfortunately new challenges are emerging.

    Over what time frame are you expecting the inflation rate to sustainably meet the ECB’s 2 per cent target?

    Recently, the inflation rate in the euro area stood at 2.2 per cent, which isn’t so far from our 2 per cent target. I believe that the inflation rate will remain in a zone close to 2 per cent in the coming months. But part of your question is about whether this will be on a sustained basis. And this is where we have to work out whether new challenges, in particular those to do with trade policy, could cause an inflation issue in either direction.

    Many people have the feeling that they are noticing inflation much more in the supermarket. What do you say to them?

    It is not unfounded. Food inflation remains well above 2 per cent – currently around 3 per cent. For unprocessed food, for example fruit and vegetables, it is even close to 5 per cent. So this perception is correct: “supermarket inflation” is higher than the general inflation rate. But this is offset by other developments, such as energy prices. Goods price inflation is also below the current headline inflation rate.

    How much is the reduction in inflation really down to the ECB – and to what extent is it simply a consequence of the sharp rise and subsequent fall in energy prices?

    This time is different from the 1970s. At that time, many central banks didn’t manage to convince people that inflation would fall again – although the Bundesbank did better than others. People expected inflation to remain high. This time around we made it clear that the ECB would deliver on price stability. Through our monetary policy, we have prevented double-digit inflation from getting entrenched. So we played our part and ensured that this period of high inflation remained temporary. Due to our intervention, fluctuations in energy prices have not led to a permanent surge in inflation.

    What impact do you expect Donald Trump’s tariffs to have on inflation in the euro area?

    This has been the subject of intense debate since the election in November. Several factors play a role: first, the exchange rate between the US dollar and the euro. Many expected that tariffs would weaken the euro. So far, however, the opposite has occurred. Second, the tariffs have an impact on global economic growth; the slowdown has pushed down oil and gas prices, and this was not in the initial discussion but is proving important. And third, with respect to trade between the United States and China, China is likely to export less to the United States and more to Europe. So there are a number of factors that could lead to lower inflation in the euro area. But we also have to keep in mind that we don’t know the outcome of the negotiations between the EU and the United States.

    At this point, is it possible to predict what’s ultimately going to happen?

    The outcome is still quite open at the moment. For the time being, there are some factors that tend to support a drop in euro area inflation. However, the picture could shift if, for example, the negotiations between the EU and the United States fail, with the United States imposing higher tariffs and the EU implementing counter tariffs. Supply chains could also be disrupted – this could drive up inflation.

    Are there differences between short-term and long-term effects?

    I would actually distinguish between three time horizons: short term, medium term and long term. In the coming months, in other words for the remainder of 2025, the inflation rate is expected to be close to target. Over the medium term, the impact of US tariffs on inflation could materialise, including through the exchange rate and energy prices. Looking further ahead to the long term, analysts and financial markets are reasonably confident that inflation will return to the ECB’s target. The main focus of the ECB’s monetary policy is on the medium-term horizon: that is to say, one or two years ahead.

    Is there any reason to be concerned that people’s inflation expectations could rise more quickly again because the experience of very high inflation is still so recent?

    As a directional statement, I agree. Before the pandemic, many were convinced inflation would stay very low. The high inflation episode was a painful reminder that inflation can arise. But such a combination of extraordinary events – the pandemic, Russia’s war in Ukraine – is very rare. The more concrete question for us is: could a world of shocks relating to structural changes – arising from challenges to globalisation, increased automation, changing demography – push inflation noticeably below or above 2 per cent, and how responsive will inflation expectations be? Part of our job will be to make sure expectations remain anchored, that people have the reassurance that if inflation moves away from 2 per cent we will bring it back.

    What impact do the current labour shortages and low unemployment have on inflation?

    There is certainly a difference compared with the pre-pandemic period. That’s why I don’t think we will return to inflation rates that are as low as they were back then. When unemployment is low, firms and employees are more likely to settle on wage increases – perhaps around 3 per cent on average in the euro area. This is a normalisation and, allowing for rising labour productivity, makes our 2 per cent target more credible. But I do not see any signs of a wage-price spiral at present, and this also applies to Germany.

    In Belgium, wages are, in part, directly bound to inflation. Has that added to inflation there?

    During the period of high inflation, wages rose rapidly in Belgium but, as inflation fell, wage growth slowed down quickly again. In Germany, there was a different pattern: it took longer for wages to go up. But there is no major difference when looking at the average over three to five years.

    Do you think it is possible that the new protectionism will lead to deglobalisation in the longer term, resulting in structurally higher inflation rates?

    It is important to differentiate between temporary and permanent effects. For many firms the business model is connected to globalisation. A phase of deglobalisation could initially dampen economic growth, which would make it more likely that inflation rates would fall. Following that transition, inflation and its volatility could increase as the offsetting effect of favourable imports fades. It could mean that, as a central bank, we have to be more active in our policy responses to return inflation to 2 per cent over the medium term.

    The Federal Reserve fears that US tariffs could lead to transitory, i.e. temporary, inflation. Would it leave inflation in the euro area unaffected if US rates rise?

    The world needs the Federal Reserve to maintain price stability for the United States. If this means high US interest rates, it can lead to a stronger dollar and thereby somewhat higher inflation for Europe in the short term. In the medium term, however, high US interest rates mostly hold back the global economy – which tends to lead to lower inflation in the euro area. There are always some spillover effects.

    What does all this mean for the ECB’s interest rate policy?

    We need to find a middle path. If we keep interest rates too high for too long, the disinflation pressure of US tariffs could cause inflation rates to fall below our target. If we cut too much and too quickly, a strengthening economy and other factors could drive inflation back up. This is why we will pay close attention to the data in our next meetings. If we see signs of further falling inflation, we will respond with further interest rate cuts – but the range of discussion is not that wide: no one is talking about dramatic rate cuts. We are in a zone of normal central banking.

    Are the key ECB interest rates now in the neutral range?

    The neutral interest rate can only be estimated and it is a long-term concept. In the long term, the neutral interest rate could be around where we are now. But the world is not in equilibrium and the appropriate interest rate may be different in the short term. I would differentiate between the three policy rate zones: a clearly restrictive one with rates say in the high twos or above; and a clearly accommodative one – for the sake of discussion, say rates below 1.5 per cent are clearly accommodative. Going there would only be appropriate in the event of more substantial downside risks to inflation, or a more significant slowdown in the economy. I do not see that at the moment. And there is a zone in between, where it is more of a question of cyclical management. We are navigating in that zone at the moment. This is the focus of the discussions at the ECB.

    Can the ECB be indifferent to exchange rate developments when there is a sharp depreciation of the dollar, like at the moment? Unlike the Bundesbank in the past, you aren’t pursuing an official exchange rate policy…

    The exchange rate is of course an important factor in the development of inflation, even if we do not pursue an explicit exchange rate policy. However, most trade in the euro area takes place between countries sharing the euro as a common currency and, therefore, the exchange rate does not play a role. Trade with the United States and other regions of the world is important but it’s not the dominant factor. At the same time, we need to look at the impact of exchange rate shifts in a situation like we have now.

    Do you think that the euro could replace the US dollar as the world’s reserve currency as a consequence of the unreliable economic policies of the United States?

    I think the question whether the euro should overtake the US dollar is not so important. I can imagine that the euro will become more important as a reserve currency in the current situation. In the first decade of the euro, there was an optimism that we would no longer live in a world with a single world currency, the dollar. Now, the United States is facing all kinds of questions about its role in the world economy. The natural second currency is the euro. It is well placed to gain a bigger share of the market. This could be supported by further European integration – to put the euro on a firmer foundation.

    In your estimation, how great is the risk that we will now see more frequent waves of inflation, like those seen recently?

    The specific circumstances of the last wave of inflation will probably not be repeated quickly. Something like that occurs at most every few decades. Nevertheless, I also consider very low inflation rates, like those before the pandemic, to be unlikely in the current circumstances where there are so many upheavals and changes. There could be more external shocks and fluctuations in inflation rates than in the past. That means that we have an important job to do at the ECB. We may need to become even more active than before in adjusting our policy to the incoming shocks.

    MIL OSI Economics –

  • MIL-OSI Europe: EIB Global helps the National Bank of the Republic of North Macedonia deal with climate risk

    Source: European Investment Bank

    EIB

    The European Investment Bank (EIB Global) and the National Bank of the Republic of North Macedonia (NBRNM) have successfully completed a comprehensive climate risk capacity-building initiative under the Greening Financial Systems (GFS) Advisory Programme. The project involved over 50 experts from the NBRNM, strengthening their ability to assess and address climate-related risks, boost green investments among local businesses and support a sustainable economic transition by developing tailored financial regulation with support from the EIB’s Advisory team.

    This technical upskilling will position the NBRNM to share these competences with local financial institutions, enabling them to conduct climate vulnerability assessments and integrate climate scenarios into strategic planning. The local institutions can then provide tailored, informed guidance to local companies on the investments needed to address the climate risks specific to their business.

    Anita Angelovska Bezhoska, Governor of the National Bank of the Republic of North Macedonia, stated: “Building resilience to climate-related financial risks is no longer optional – it is a strategic imperative. Through our valuable partnership with the EIB under the Greening Financial Systems programme, we have significantly enhanced our institutional capacity to integrate climate considerations into our regulatory and supervisory frameworks. Not only does this strengthen our bank’s role in safeguarding financial stability, but it also supports the broader financial sector in adapting to the realities of a changing climate.”

    EIB representative to North Macedonia Björn Gabriel said: “Through this collaboration, we are fostering investments in energy efficiency and climate adaptation among Macedonian companies, making a meaningful contribution to the future resilience and competitiveness of the national economy.”

    Beyond training, the GFS programme has enabled several complementary initiatives, such as the development of Physical and Transition Climate Risk Hazard Maps for North Macedonia and a national survey on climate risk awareness and sustainability practices among companies. It has also provided strategic support on climate-related financial reporting, helping align the NBRNM and the broader financial sector with global frameworks.

    The EIB’s Greening Financial Systems programme is funded by the International Climate Initiative (IKI) on behalf of the German Federal Ministry of Economic Affairs and Climate Action (BMWK). The programme contributes to the NDC Partnership, helping financial regulators align with the objectives of the Paris Agreement.

    MIL OSI Europe News –