NewzIntel.com

Category: Banking

  • MIL-OSI Banking: [Interview] The Story Behind Galaxy S25 Edge: Designing the Slimmest Galaxy S Series Model Yet

    Source: Samsung

    The Galaxy S25 Edge — the slimmest device in Galaxy S series history — has officially been unveiled. The latest addition to Samsung Electronics’ flagship lineup makes an immediate impression with its astonishingly thin silhouette.
     
    Samsung Newsroom spoke with Jiyoung Lee and Hyoungshin Park, Vice Presidents from the Design Team, Mobile eXperience (MX) Business at Samsung Electronics, to learn more about the story and innovation behind the Galaxy S25 Edge’s design.
     
    ▲ Jiyoung Lee and Hyoungshin Park
     
     
    A Refined Design With an Unmistakable Edge
    The Galaxy S25 Edge makes a bold statement with its ultra-slim profile.
     
    “This model represents the most essential form of a smartphone by removing all unnecessary elements,” said Lee, who led the product design.
     
    ▲ The colors of Galaxy S25 Edge
     
    The device’s thinness is further highlighted by the thoughtful balance of color, material and finish (CMF). Premium titanium, known for both its elegance and durability, is used for the side frame — creating a slim yet sturdy feel while reflecting the design identity of the Galaxy S25 Ultra.
     
    The color palette was carefully refined to emphasize the Galaxy S25 Edge’s distinct form and stay true to the Galaxy S25 series’ luminous shade concept, inspired by the broad spectrum of light. Available shades include Titanium Silver, Titanium Icyblue and Titanium Jetblack.
     
    A one-mass design — visually integrating the frame and back cover — works in tandem with a slimmer bezel to create a seamless, cohesive look that accentuates the Galaxy S25’s sleek profile.
     
    ▲ Hyoungshin Park led the CMF design
     
    “In designing the Galaxy S25 Edge, we considered color depth and saturation, material integration, user preferences and manufacturing processes,” said Park, who led the CMF design. “This allowed us to express the symbolism and refined identity of the Galaxy S25 Edge while maintaining consistency with the Galaxy S25 series’ overall CMF direction.”
     

    The Intersection of Sleekness and Usability
    What does “Essential Design” mean in the context of smartphones? For the Galaxy design team, it is not just about simplicity — it’s about intent-driven design centered on the user.
     
    “During planning, we asked ourselves what new value a slimmer smartphone could offer — instead of focusing solely on how to make the device thinner,” said Lee. “We wanted the design to go beyond first impressions and deliver lasting satisfaction through balance and comfort the moment it is held.”
     
    ▲ Jiyoung Lee led the product design
     
    Guided by an aesthetic philosophy focused on modern and sleek design, slimness became a key element to enhance usability.
     
    “The Galaxy S25 Edge offers a natural one-hand grip that reduces wrist strain during extended use, and the thin bezel allows for a more immersive viewing experience,” she added. “The front is flat while the back has a subtle curve — shaped to feel comfortable in the hand.”
     
     
    Premium Value Through a Balance of Emotion and Technology
    Fitting both high performance and premium craftsmanship into a 5.8 mm frame was a challenge in itself.
     

     
    “We couldn’t compromise on either the exceptionally sleek design or the powerful 200 MP camera,” said Lee. “To ensure the high-performance camera blended seamlessly into the thinner body, we applied the same CMF from the back glass to the camera bump — making it look like a unified structure. We used the linear camera layout, an integral element of the Galaxy identity, to tie it all together.”
     
    ▲ The camera design of the Galaxy S25 Edge
     
    Precision in CMF execution was equally important.
     
    “To apply the same CMF concept from the Galaxy S25 series to a slimmer glass body, we collaborated closely across departments — testing various color combinations and layered finishes right up until launch,” said Park.
     
    The result is a remarkably thin form factor that still delivers the premium look and feel that defines Galaxy.
     
    ▲ Designers who participated in Galaxy S25 Edge design. (From left) Seungho Jang, Yoonkyung Cho, Seung Ah Oh, Eunyoung Kim, Jiyoung Lee, Youngil Kim, Jihyun Ko, Hyoungshin Park, Jeonga Kang and Jung-Taek Lee
     
    With its dramatically reduced thickness, the Galaxy S25 Edge sets a new standard for slim smartphones. As the thinnest Galaxy S series model to date, the device embodies Samsung’s commitment to innovation — offering users a differentiated experience while redefining expectations for premium smartphone design.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Samsung Electronics Hosts Accessibility Festival Week in Europe To Promote and Advance Accessibility for All

    Source: Samsung

    Now in its third year, the 2025 Accessibility Festival Week (AFW) is taking place at Samsung Electronics UK (SEUK) from May 13 to 15. The event showcases accessible products and services designed to deliver inclusive experiences for all — including people with disabilities, older adults and those with temporary physical limitations.
     
    Organized in celebration of Global Accessibility Awareness Day (GAAD), this year’s AFW is the result of close collaboration between the CDO at Samsung Electronics Corporation (SEC), Samsung Electronics Europe Office (EO), Samsung Design Europe (SDE), Samsung R&D Institute UK (SRUK) and SEUK — all of which make up the AFW task force.
     
    First held at Samsung Seoul R&D Campus in 2023, AFW serves as a platform to reinforce and expand the company’s commitment to accessibility among employees. Samsung Newsroom visited this year’s edition in Europe to witness how that vision is being brought to life.
     
     
    Day 1: Learning From Europe’s Accessibility Practices
    AFW opened on May 13 with an Inspiration Tour, bringing together accessibility leaders from SEC and members of the AFW task force to explore exemplary accessibility practices across Europe and inspire future initiatives.
     
    Participants visited Samsung KX in King’s Cross, London — recognized as a model for inclusive retail — where they examined products through the lens of accessibility and observed how inclusive design shapes the in-store customer experience.
     
    ▲ Inspiration Tour at Samsung KX in King’s Cross, London
     

    ▲ Visiting Google’s Accessibility Discovery Center, London
     
    In the afternoon, the group visited the Accessibility Discovery Center at Google King’s Cross to engage with real-world solutions designed to better support people with a wide range of disabilities.
     
    “The Inspiration Tour broadened my perspective on accessibility,” said Youngkyung Jung from the User Experience (UX) Strategy Group, CDO. “So many breakthroughs in accessibility come from collaboration between companies, and today’s program showed how powerful inclusive partnerships can be.”
     
     
    Day 2: Driving Innovation Through a Cross-Functional Accessibility Symposium
    Samsung held an accessibility symposium at the SEUK office on the morning of May 14, welcoming employees from CDO, EO, SDE, SRUK and SEUK. Colleagues from various departments including People, Workplace Solutions and Employee Resource Groups — along with planning, design, development and marketing teams — shared their experiences and strategies for embedding accessibility into their work.
     
    Discussions covered current accessibility trends, accessibility in UX strategy including UX evaluation framework, practical R&D insights and more. Team members openly exchanged lived-in experience and ideas with one another, finding common ground to build stronger connections across regions and functions.
     
    ▲ Employees networking and engaging in discussions at the Symposium
     
    “Accessibility features originally designed for users with disabilities often become essential tools that benefit everyone,” said Ray Jessel from EO Marketing. “It was especially helpful for my work to hear the unique experiences of different departments.”
     
     
    Day 3: Building a Shared Accessibility Vision for Inclusive Innovation
    To mark GAAD on May 15, Samsung is hosting a special session at the SEUK office to share its accessibility strategy and future vision for inclusive innovation with employees across Europe.
     
    The event will begin with an opening speech from Simon Sung, President and CEO of Samsung Electronics Europe, who will emphasize accessibility as a core value in advancing Samsung’s global vision and encourage teams across the region to champion accessibility innovation with a unified voice.
     
    Jinsoo Kim, Head of Accessibility Committee at SEC, will join the session in person to meet with employees, highlight the company’s accessibility principles and speak on the significance of AFW as the company looks toward a more inclusive future.
     
    Accessibility leaders from various business divisions at SEC will then introduce product-specific strategies and key features prioritized for the year. Through these presentations, employees are expected to gain a clearer understanding of Samsung’s accessibility roadmap and align on a shared vision for customer-first, inclusive innovation. The keynote will be livestreamed to teams across Europe.
     
    ▲ Day 3 Keynote Speech Schedule
     
     
    In the afternoon, a hands-on workshop will be held with experts from the external community group Studio Exception — a design and innovation consultancy focused on inclusive design. Registered employees will have the opportunity to explore inclusive design thinking and reflect on how to apply it to their day-to-day work.
     
    “AFW has been an inspiring and meaningful experience for us in Europe. Accessibility is no longer optional — it’s a strategic imperative that defines future competitiveness,” said Alice Jackson from the SEUK People Team. “It was especially impactful to have people from SEC visit Europe and deliver such a clear, unified message. This event has created a powerful sense of shared purpose, understanding and empathy — values we are passionate about in our efforts to support our colleagues and future talent at Samsung.”
     

    ▲ Employees exploring the AFW exhibition displayed in the Atrium
     
    As the three-day AFW draws to a close, momentum and optimism continue to grow among employees. Samsung hopes AFW will help foster a lasting culture of inclusive innovation — one that goes beyond convenience to deliver better experiences for all.

    MIL OSI Global Banks –

  • MIL-OSI New Zealand: Advocacy – Commemorating 77 Years of the Palestinian Nakba: A Call for Justice, Memory, and Solidarity

    Source: Palestine Forum of New Zealand

    On 15 May 2025, Palestinians and their allies around the world mark Nakba Day, commemorating 77 years since the catastrophic displacement of over 750,000 Palestinians from their homes in 1948. Known as al-Nakba, or “the Catastrophe,” this moment in history saw the systematic destruction of Palestinian villages, towns, and society — a tragedy whose consequences are still being felt today.

    For Palestinians, the Nakba is not confined to history books; it is a lived and ongoing reality. Millions remain refugees and exiles, denied their internationally recognised right of return, while those in the occupied Palestinian territories and within historic Palestine continue to endure military occupation, siege, and systematic oppression.

    “Nakba Day is a solemn reminder of both the injustice that befell the Palestinian people in 1948 and the ongoing violations of their rights to this day,” said Maher Nazzal, spokesperson for the Palestine Forum of New Zealand. “It is a call to the international community — including here in Aotearoa — to stand with Palestinians in their struggle for freedom, justice, and self-determination.”

    This year’s commemoration comes amid intensified violence in Gaza, relentless settlement expansion in the West Bank, and a growing humanitarian catastrophe. The Palestine Forum of New Zealand calls on the New Zealand government to uphold its moral and legal responsibilities by advocating for an end to the occupation, supporting the right of return for refugees, and taking decisive action against ongoing violations of international law.

    “The Nakba is not a chapter of the past — it is a continuing story of dispossession and resistance,” Nazzal added. “We urge all people of conscience to honour the memory of the Nakba by standing in solidarity with Palestine today.”

    Maher Nazzal
    Palestine Forum of New Zealand

    MIL OSI New Zealand News –

  • MIL-OSI USA: Congressman David Scott Votes Against Republican Bill That Cuts $230 Billion From SNAP, Leads Effort to Protect SNAP Funding

    Source: United States House of Representatives – Congressman David Scott (GA-13)

    WASHINGTON- Today, Congressman David Scott (GA-13), voted against House Republicans’ Budget Reconciliation bill that would steal $230 billion in funding for the Supplemental Nutrition Assistance Program (SNAP).

    “To gift trillions of dollars in tax cuts to their billionaire friends, Republicans are taking food from the mouths of those who need our help the most, including children, veterans, seniors, and people with disabilities,” said Congressman David Scott. “That is why I filed several amendments removing all SNAP funding cuts in their disastrous and cruel Reconciliation bill. When given the opportunity to protect this crucial nutrition program millions of their constituents rely on, every single Republican voted against it. I voted NO for these irresponsible cuts on behalf of the more than 280,000 Georgians in my district and the 42 million American who rely on SNAP to not go hungry.” 

    “The Atlanta Community Food Bank helps neighbors facing food insecurity by connecting them to resources to meet their nutritional needs. SNAP is a key part of this effort, as more than 43% of people facing food insecurity in Georgia are eligible for SNAP benefits, according to a recent Feeding America study,” said Sarah Fonder-Kristy, Chief Development Officer of the Atlanta Community Food Bank. “The Food Bank is grateful to Congressman Scott, and his long and steadfast support for those in need of nutrition assistance through the federal government and USDA. Food banks, alone, will not be able to fill the increasing meal gap in our communities, which is why SNAP is critical to providing continued food support for those who are struggling.”

    To cut $230 billion in SNAP funding, the Republican budget would impose unrealistic and harsh work requirements, reduce monthly benefits, and prevent benefit rate adjustments from increasing in the future. These changes will make millions of existing SNAP recipients ineligible overnight. They would also increase food insecurity across the country while Republicans are decreasing funding for other forms of food assistance, such as food banks and local pantries. As many as six million SNAP recipients could be at risk of losing benefits under this Reconciliation bill.

    SNAP provides assistance to over 42 million Americans, including 1.2 million low-income veterans. In Georgia’s 13th District, 282,731 households receive assistance through SNAP—more than half include young children. Beyond slashing $230 billion from SNAP benefits, the Republican Reconciliation bill calls for $880 billion in cuts to Medicaid and $330 billion in cuts to federal education programs.

    In addition to leading an amendment to remove all SNAP funding reductions, Congressman David Scott led an amendment to prohibit the implementation of any provision of the bill related to SNAP until USDA and all state agencies confirm that this bill would not cause a reduction of participation in SNAP for Veterans or the surviving families of Servicemembers or Veterans who died during active duty or from a service-related disability. All Republicans voted against this amendment as well.

    MIL OSI USA News –

  • MIL-OSI China: China issues 10.06 trillion yuan in new loans in first four months

    Source: People’s Republic of China – State Council News

    China issued 10.06 trillion yuan (about 1.39 trillion U.S. dollars) in new yuan-denominated loans in the first four months of 2025, central bank data showed on Wednesday.

    At the end of April, outstanding yuan loans amounted to 265.7 trillion yuan, up 7.2 percent year on year, according to the People’s Bank of China.

    In the first four months, household loans increased by 518.4 billion yuan, while loans to enterprises increased by 9.27 trillion yuan.

    The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8 percent year on year to 325.17 trillion yuan at the end of April.

    The M1, which covers cash in circulation, demand deposits and clients’ reserves of non-banking payment institutions, stood at 109.14 trillion yuan at the end of April, up 1.5 percent year on year.

    The M0, which indicates the amount of cash in circulation, reached 13.14 trillion yuan at the end of last month, an increase of 12 percent year on year.

    In the first four months, China’s yuan-denominated deposits increased by 12.55 trillion yuan, with household deposits accounting for 7.83 trillion yuan of this rise.

    The data also showed that the total social financing stock in China reached 424 trillion yuan at the end of April, marking an 8.7 percent increase from the previous year.

    During the first four months, the newly added social financing amounted to 16.34 trillion yuan, representing a 3.61 trillion yuan increase from the corresponding period of the prior year, according to the data. 

    MIL OSI China News –

  • MIL-OSI USA: Crapo, Risch Send Letter Backing President Trump’s Call for Full Dismantlement of Iran’s Nuclear Program

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo
    Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho) joined Jim Risch (R-Idaho), chairman of the U.S. Senate Foreign Relations Committee, in sending a letter to President Donald Trump regarding the Administration’s ongoing negotiations with Iran.  The letter calls on the Trump Administration to secure a deal that results in the full dismantlement of the Iranian nuclear program, including permanently ending the regime’s capacity to enrich uranium.  The letter was signed by 51 Senate Republicans.  The letter states:
    “We write to express our strong support for your efforts to secure a deal with Iran that dismantles its nuclear program, and to reinforce the explicit warnings that you and officials in your Administration have issued that the regime must permanently give up any capacity for enrichment.
    “We cannot afford another agreement that enables Iran to play for time, as the JCPOA did.  The Iranian regime should know that the Administration has Congressional backing to ensure their ability to enrich uranium is permanently eliminated,” the letter continues.  “As always we stand ready to provide you and your Administration whatever resources you need to advance American national security interests.”
    The letter was also signed by U.S. Senators Ted Cruz (R-Texas), Tom Cotton (R-Arkansas), Leader John Thune (R-South Dakota) Jim Justice (R-West Virginia), Steve Daines (R-Montana), John Curtis (R-Utah), John Cornyn (R-Texas), Kevin Cramer (R-North Dakota), Chuck Grassley (R-Iowa), Dave McCormick (R-Pennsylvania), James Lankford (R-Oklahoma), Tim Scott (R-South Carolina), Susan Collins (R-Maine), Markwayne Mullin (R-Oklahoma), Tim Sheehy (R-Montana), Rick Scott (R-Florida), Cynthia Lummis (R-Wyoming), Jim Banks (R-Indiana), John Hoeven (R-North Dakota), John Boozman (R-Arkansas), Jon Husted (R-Ohio), John Barrasso (R-Wyoming), Roger Wicker (R-Mississippi), Thom Tillis (R-North Carolina), Shelly Moore Capito (R-West Virginia), Mike Lee (R-Utah), Katie Britt (R-Alabama), Marsha Blackburn (R-Tennessee), Ashley Moody (R-Florida), Ted Budd (R-North Carolina), Mitch McConnell (R-Kentucky), Dan Sullivan (R-Arkansas), Joni Ernst (R-Iowa), Cindy Hyde-Smith (R-Mississippi), Mike Rounds (R-South Dakota), Deb Fischer (R-Nebraska), Bill Cassidy (R-Louisiana), Todd Young (R-Indiana), John Kennedy (R-Louisiana), Tommy Tuberville (R-Alabama), Bernie Moreno (R-Ohio), Jerry Moran (R-Kansas), Lisa Murkowski (R-Alaska), Bill Hagerty (R-Tennessee), Eric Schmitt (R-Missouri), Roger Marshall (R-Kansas), Josh Hawley (R-Missouri), Ron Johnson (R-Wisconsin), and Lindsey Graham (R-South Carolina).
    Read the full letter here or below:
    Dear Mr. Trump:
    We write to express our strong support for your efforts to secure a deal with Iran that dismantles its nuclear program, and to reinforce the explicit warnings that you and officials in your Administration have issued that the regime must permanently give up any capacity for enrichment.
    During your first term you withdrew the United States from the deeply broken Joint Comprehensive Plan of Action (JCPOA) and imposed maximum pressure on the regime.  As you said then, a fatal flaw of the deal was that it “allowed Iran to continue enriching uranium and, over time, reach the brink of a nuclear breakout.”  The JCPOA allowed Iran to sell oil, provided waivers allowing third countries to help Iran build out its nuclear program and included the termination of United Nations sanctions on the regime.  Despite critics claiming your withdrawal from the deal would allow Iran to advance its nuclear ambitions, the Iranian regime remained deterred from making substantial nuclear progress throughout your term because of your maximum pressure campaign.
    Tragically, the Biden Administration systematically undid that pressure, functionally re-implementing the nuclear deal.  They immediately rescinded your decision to reimpose U.N. sanctions, allowed Iran to sell oil at JCPOA-levels and even re-issued waivers allowing Iran to build out its nuclear program.  As you predicted, those policies indeed allowed Iran to reach the brink of nuclear breakout, which is where they are today.  The Biden Administration made those concessions without any reciprocal concessions from Iran, and Iran even ceased providing international inspectors access to significant parts of its nuclear program in the early days of the Biden Administration.
    The scope and breadth of Iran’s nuclear buildout have made it impossible to verify any new deal that allows Iran to continue enriching uranium.  In its most recent report, published on February 26, the International Atomic Energy Agency confirmed that because of Iran’s activities over the last four years, “the Agency has lost continuity of knowledge in relation to the production and current inventory of centrifuges, rotors and bellows, heavy water and UOC, which it will not be possible to restore.”
    You and your Administration have therefore correctly drawn a redline against any deal that allows Iran to retain any enrichment capability.  Your National Security Presidential Memorandum on Iran stated that “Iran’s nuclear program, including its enrichment- and reprocessing-related capabilities and nuclear-capable missiles, poses an existential danger to the United States and the entire civilized world,” and you recently said that only “full dismantlement” of those capabilities would be acceptable.  Special Presidential Envoy Steve Witkoff has made it clear in that context of negotiation that for any final arrangement to work, “Iran must stop and eliminate its nuclear enrichment and weaponization program.”
    We cannot afford another agreement that enables Iran to play for time, as the JCPOA did.  The Iranian regime should know that the Administration has Congressional backing to ensure their ability to enrich uranium is permanently eliminated.
    As always, we stand ready to provide you and your Administration whatever resources you need to advance American national security interests.
    Sincerely,

    MIL OSI USA News –

  • MIL-OSI Russia: Financial News: Fires Ablaze! Artek is 100 Years Old (14.05.2025)

    Translation. Region: Russian Federal

    Source: Central Bank of Russia –

    On May 15, 2025, the Bank of Russia will issue a commemorative silver coin of 3 rubles “100th Anniversary of the International Children’s Center “Artek” of the “Historical Events” series (catalog No. 5111-0518).

    Artek, which began in 1925 with four canvas tents at the foot of Mount Ayu-Dag, was the most famous pioneer camp in the USSR, where not only pioneers from all over the Union dreamed of going, but also children from other countries. Now it is one of the largest international children’s centers in the world. Over the course of its existence, more than 1.8 million children have visited Artek. Artek is often called the capital of the country of childhood.

    The silver coin with a face value of 3 rubles (pure precious metal weight – 31.1 g, alloy fineness – 925) has the shape of a circle with a diameter of 39.0 mm.

    There is a raised edge around the circumference of both the front and back sides of the coin.

    On the obverse of the coin there is a relief image of the State Emblem of the Russian Federation, the inscriptions “RUSSIAN FEDERATION”, “BANK OF RUSSIA”, the coin denomination “3 RUBLES”, the date “2025”, the designation of the metal according to the Periodic Table of Elements of D.I. Mendeleyev, the alloy fineness, the trademark of the St. Petersburg Mint and the pure mass of the precious metal.

    On the reverse side of the coin there is a colored element of the logo of the International Children’s Center “Artek” against the background of a laser-matted image of Mount Ayu-Dag; at the bottom there are relief inscriptions: along the circumference – “INTERNATIONAL CHILDREN’S CENTER “ARTEK”, above it – “100”.

    The side surface of the coin is ribbed.

    The coin is made in proof quality.

    The mintage of the coin is 3.0 thousand pieces.

    The issued coin is a legal tender in the territory of the Russian Federation and must be accepted at face value for all types of payments without restrictions.

    When using the material, a link to the Press Service of the Bank of Russia is required.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    KHTTPS: //vv. KBR.ru/Press/PR/? File = 638828247159718694KOins. CHTM

    MIL OSI Russia News –

  • MIL-OSI USA: Lankford Continues Push to Safeguard Conscience Rights of Health Care Workers

    US Senate News:

    Source: United States Senator for Oklahoma James Lankford

    WASHINGTON, DC – Senator James Lankford (R-OK) introduced the Conscience Protection Act to protect health care providers and insurance plans from government discrimination if they decline to participate in abortions. The Conscience Protection Act provides enforcement for existing conscience laws by providing a private right of action for victims of conscience discrimination. 

    “When conscience protections aren’t enforced, health care workers are forced to decide if they should lose their job or violate their beliefs by performing an abortion. Many health care professionals went into their careers to protect life, not take life. Doctors and nurses should never have to make the choice between their career and their conscience. The Conscience Protection Act defends health care workers and empowers them to stand by convictions as they care for their community,” said Lankford.

    Lankford first introduced the Conscience Protection Act in 2019 and again in 2021 and 2024.  He spoke on the Senate floor after Democrats blocked his bill to protect all Americans’ conscience rights.

    Lankford is joined on the bill by Senators Kevin Cramer (R-ND), Mike Rounds (R-SD), Jim Risch (R-ID), Cynthia Lummis (R-WY), Steve Daines (R-MT), Cindy Hyde-Smith (R-MS), Ted Budd (R-NC), Josh Hawley (R-MO), Todd Young (R-IN), Pete Ricketts (R-NE), Joni Ernst (R-IA), Deb Fischer (R-NE), Mike Lee (R-UT), Jim Banks (R-IN), and Mike Crapo (R-ID). Representative August Plfuger (R-TX) is leading the legislation in the House of Representatives.

    This legislation is also supported by Susan B. Anthony Pro-Life America, Students for Life, American Association of Pro-Life Obstetricians and Gynecologists Action, Alliance Defending Freedom, Eagle Forum, National Right to Life Committee, First Liberty Institute, CatholicVote, Concerned Women for America Legislative Action Committee, and March for Life.

    Background

    Congress has enacted more than 25 laws to protect conscience rights for individuals who have a religious or moral objection to performing certain medical procedures, including abortion. Yet, courts have consistently declined to find that these laws provide a “private right of action” for an individual to commence litigation to defend their right of conscience—thereby leaving victims of conscience discrimination unable to defend their rights in court. Currently, if a health care worker refuses to provide abortions, the only recourse available is to file a complaint with the Department of Health and Human Services (HHS) Office for Civil Rights (OCR). 

    In 2014, California required that health plans must cover abortions, which forced religious employers to offer plans that violate their religious beliefs. In December 2014, under the Obama Administration, HHS opened an investigation. Despite the then-current laws protecting conscience rights, in June 2016, HHS declared that California could force all its health plans to cover elective abortions, which President Biden’s nominee for HHS Secretary has advocated for and enforced as Attorney General of California.

    During the first Trump Administration, several landmark actions were taken to enforce current law and protect conscience: (1) created the Conscience and Religious Freedom Division, (2) partnered with the Department of Justice to notice and enforce conscience violations in Vermont and California, resulting in the disallowance of $200 million per quarter from the state due to former Attorney General Becerra’s refusal to comply with the law, and (3) issued the final rule “Protecting Statutory Conscience Rights In Health Care” to enforce existing statutory protections, which Lankford supported. Unfortunately, a federal court vacated the conscience rule in November 2019. Litigation on the final rule continued at the Second Circuit in New York v. HHS, and seventy-eight Members of Congress filed an amicus brief led by Senator Lankford in the case.

    In response to the Biden Administration’s proposed rule that would insufficiently enforce conscience protections for medical professionals, Lankford led his colleagues in filing a public comment letter demanding greater implementation and enforcement of all of the statutory conscience protections enacted by Congress, as reflected in the previous rule issued under the Trump Administration. 

    This week, President Trump’s Department of Health and Human Services (HHS) announced it is initiating a compliance review under the Church Amendments, which is central to the legislation. This key development pairs perfectly with the Conscience Protection Act and underscores the need for further action to protect conscience rights.

    You can read the exclusive in the Daily Signal HERE, and can read the full text of the Conscience Protection Act HERE.

    MIL OSI USA News –

  • MIL-OSI Economics: Africa Road Builders: Angolan President João Lourenco, winner of the Babacar Ndiaye Prize 2025

    Source: African Development Bank Group

    Angolan President João Lourenço has won the 2025 “Africa Road Builders” prize –awarded to African leaders who have invested in infrastructure development. He follows Equatorial Guinea’s Téodoro Obiang Nguema Mbasogo and Congo Denis Sassou-Nguesso, who were joint winners in 2024.

    The selection committee for the Babacar Ndiaye Road Builder Super Prize, meeting in Dubai on 25 April, awarded it to Lourenço for the construction of major transport infrastructure in Angola. Projects include the Lobito Corridor, a strategic regional railway line between Zambia, Angola and the Democratic Republic of Congo. The African Development Fund, the African Development Bank Group’s concessional loans window, provided a grant of $8.14 million towards implementing the project, which will improve regional integration and support trade between the three countries.

    The construction of the new Dr Agostinho Neto international airport, which opened in November 2023, paving 2,000 km of roads, resurfacing a further 2,000 km and building a light metro system in Luanda were the key factors in making their decision, the committee said.

    “We were aware that in recent years, Angola has embarked on a major transformation of its transport infrastructure, with the aim of strengthening its strategic position in southern and central Africa and diversifying its economy. The immediate impacts of these various projects and achievements have been the creation of several services, including the use of new information and communication technologies,” explained the Africa Road Builders selection committee.

    The latest winner of the Babacar Ndiaye prize will receive his award in Abidjan on 28 May, alongside the Annual Meetings 2025 of the African Development Bank Group.

    Sponsored by the African Development Bank Group, the Babacar Ndiaye Africa Road Builders prize is awarded by Acturoutes, a platform that provides information on the road network and infrastructure in Africa, and the organization Media for Infrastructure and Finance in Africa (MIFA), a network of African journalists specializing in road infrastructure.

    The prize was created in honour of Babacar Ndiaye (1936-2017), President of the African Development Bank Group from 1985 – 1995. Each year, the “Africa Road Builders” Selection Committee evaluates ambitious, tangible projects that have a real impact on people’s mobility in Africa.

    Since its launch in 2016, the Babacar Ndiaye Prize has been awarded to the following heads of state: King Mohamed VI (Morocco), Edgar Lungu (Zambia), Alassane Ouattara (Côte d’Ivoire), Ali Bongo Ondimba (Gabon), Macky Sall (Senegal) and Paul Kagamé (Rwanda) as joint winners in 2017, Uhuru Kenyatta (Kenya), Adama Barrow (Gambia), Abdel Fattah-al Sissi (Egypt), Muhammadu Buhari (Nigeria), Samia Suhulu Hassan (Tanzania), Andry Rajoelina (Madagascar), and Teodoro Obiang Nguema Mbasogo (Equatorial Guinea) and Denis Sassou-Nguesso (Congo), joint winners in 2024.

    MIL OSI Economics –

  • MIL-OSI USA: Welch, Jayapal to Host Viewing of No Other Land at the U.S. Capitol

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    WASHINGTON, D.C. – U.S. Senator Peter Welch (D-Vt.) and Representative Pramila Jayapal (WA-07) will host a panel discussion and special Capitol Hill viewing of the Academy Award winning documentary film, “No Other Land” for Members of Congress, congressional staff, civil society leaders, and members of the press. The panel of experts, moderated by journalist Mehdi Hasan, will discuss the film, settler violence in the West Bank, the expansion of Israeli settlements, and shifts in U.S. policy.  
    Event: Panel Discussion and Viewing of “No Other Land” Date and Time: Monday, May 19, 2025 at 7:00PM Location: South Orientation Theater (CVC 241), Capitol Visitor Center Panel: U.S. Senator Peter Welch (D-Vt.), Representative Pramila Jayapal (WA-07); Zaha Hassan; Dr. Debra Shushan; and Josh Paul; moderated by Mehdi Hasan. 
    RSVP: Please RSVP using this LINK 
    Entry Instructions: Please see Capitol Visitor Guidelines here. Use the main entrance near the intersection of East Capitol St NE and First St NE (by the Supreme Court and Library of Congress). Follow the signage down to the Capitol Visitor Center entrance, to the lower floor of the Visitor Center. 
    Winner of the Academy Award for Best Documentary Feature Film, “No Other Land” is directed by a collective of directors from Palestine and Israel—Basel Adra, Hamdan Ballal, Yuval Abraham, and Rachel Szor. The Oscar winning documentary follows Palestinian activist Basel Adra as he documents the demolition of his community in Masafer Yatta. It is a powerful testament to shared resistance, human rights, and the enduring struggle for justice. 
    Senator Welch and Representative Jayapal have co-led several efforts on issues related to the West Bank, including legislation to fund UNRWA. In April, Senator Welch and Representative Jayapal led 29 of their bicameral colleagues in raising the alarm over escalating violence in the West Bank. In a letter to Secretary of State Marco Rubio, the lawmakers urged the Trump Administration to immediately reinstate sanctions against individuals who perpetrate violence that undermines regional stability and security in the West Bank. The bicameral letter was in response to the violent assault of Hamdan Ballal, a director of “No Other Land.” On March 24, 2025, Mr. Ballal was attacked by a group of Israeli settlers in the village of Susiya in the occupied West Bank. Following this attack, Israeli Defense Forces arrested and detained Mr. Ballal.  

    MIL OSI USA News –

  • MIL-OSI USA: Kennedy, Ricketts, colleagues applaud President Trump’s push to dismantle Iran’s nuclear program

    US Senate News:

    Source: United States Senator John Kennedy (Louisiana)
    WASHINGTON – Sen. John Kennedy (R-La.) today joined Sen. Pete Ricketts (R-Neb.) and 50 Republican colleagues in sending a letter to President Donald Trump applauding the president’s efforts to secure a deal with Iran that dismantles its nuclear program.
    Key excerpts of the letter are below:
    “During your first term you withdrew the United States from the deeply broken Joint Comprehensive Plan of Action (JCPOA) and imposed maximum pressure on the regime. As you said then, a fatal flaw of the deal was that it ‘allowed Iran to continue enriching uranium and, over time, reach the brink of a nuclear breakout.’ The JCPOA allowed Iran to sell oil, provided waivers allowing third countries to help Iran build out its nuclear program, and included the termination of United Nations sanctions on the regime.”
    . . .
    “Tragically, the Biden administration systematically undid that pressure, functionally re-implementing the nuclear deal. They immediately rescinded your decision to reimpose U.N. sanctions, allowed Iran to sell oil at JCPOA-levels, and even re-issued waivers allowing Iran to build out its nuclear program. As you predicted, those policies indeed allowed Iran to reach the brink of nuclear breakout, which is where they are today.” 
    . . .
    “We cannot afford another agreement that enables Iran to play for time, as the JCPOA did. The Iranian regime should know that the administration has Congressional backing to ensure their ability to enrich uranium is permanently eliminated.
    “As always we stand ready to provide you and your administration whatever resources you need to advance American national security interests.”
    Sens. Ted Cruz (R-Texas), Tom Cotton (R-Ark.), John Thune (R-S.D.), Jim Risch (R-Idaho), Mike Crapo (R-Idaho), Jim Justice (R-W.Va.), Steve Daines (R-Mont.), John Curtis (R-Utah), John Cornyn (R-Texas), Kevin Cramer (R-N.D.), Chuck Grassley (R-Iowa), Dave McCormick (R-Pa.), James Lankford (R-Okla.), Tim Scott (R-S.C.), Susan Collins (R-Maine), Markwayne Mullin (R-Okla.), Tim Sheehy (R-Mont.), Rick Scott (R-Fla.), Cynthia Lummis (R-Wyo.), Jim Banks (R-Ind.), John Hoeven (R-N.D.), John Boozman (R-Ark.), Jon Husted (R-Ohio), John Barrasso (R-Wyo.), Roger Wicker (R-Miss.), Thom Tillis (R-N.C.), Shelly Moore Capito (R-W.Va.), Mike Lee (R-Utah), Katie Britt (R-Ala.), Marsha Blackburn (R-Tenn.), Ashley Moody (R-Fla.), Ted Budd (R-N.C.), Mitch McConnell (R-Ky.), Dan Sullivan (R-Alaska), Joni Ernst (R-Iowa), Cindy Hyde-Smith (R-Miss.), Mike Rounds (R-S.D.), Deb Fischer (R-Neb.), Bill Cassidy (R-La.), Todd Young (R-Ind.), Tommy Tuberville (R-Ala.), Bernie Moreno (R-Ohio), Jerry Moran (R-Kan.), Lisa Murkowski (R-Alaska), Bill Hagerty (R-Tenn.), Eric Schmitt (R-Mo.), Roger Marshall (R-Kan.), Josh Hawley (R-Mo.), Ron Johnson (R-Wis.) and Lindsey Graham (R-S.C.) also signed the letter.
    Read the full letter here.

    MIL OSI USA News –

  • MIL-OSI USA: Hoeven Pays Tribute to Nation’s Law Enforcement Officers on Senate Floor

    US Senate News:

    Source: United States Senator for North Dakota John Hoeven
    05.14.25
    Senate Passes Hoeven-Backed Resolution Designating National Police Week
    WASHINGTON – Senator John Hoeven (R-N.D.) delivered remarks on the Senate floor to pay tribute to the nation’s law enforcement officers. Hoeven delivered the remarks after the Senate unanimously passed a resolution he introduced with Senators Chuck Grassley (R-Iowa) and Dick Durbin (D-Ill.) designating May 12 through 17 as National Police Week, and reaffirming the Senate’s steadfast support for law enforcement officers across the nation.
    “We can never fully repay our police officers for such enormous sacrifices, but we can continue to show respect for our law enforcement, honor those we’ve lost and recognize the sacrifices of their families and loved ones,” said Hoeven.
    “To honor our men and women in blue, I helped introduce a resolution in the Senate commemorating National Police Week, and paying tribute to their bravery. National Police Week provides us with the opportunity to come together as a nation to honor the peace officers who put their lives on the line to protect and serve our communities.”
    Hoeven, Grassley and Durbin are joined by Senators Lindsey Graham (R-S.C.), Angus King (I-Maine), Ashley Moody (R-Fla.), Catherine Cortez Masto (D-Nev.), Susan Collins (R-Maine), Ben Ray Lujan (D-N.M.), Tim Sheehy (R-Mont.), Richard Blumenthal (D-Conn.), John Kennedy (R-La.), Christopher Coons (D-Del.), Tim Scott (R-S.C.), Ruben Gallego (D-Ariz.), Jim Risch (R-Idaho), Peter Welch (D-Vt.), Mitch McConnell (R-Ky.), Tim Kaine (D-Va.), Tommy Tuberville (R-Ala.), Amy Klobuchar (D-Minn.), Rand Paul (R-Ky.), Raphael Warnock (D-Ga.), Mike Crapo (R-Idaho), Brian Schatz (D-Hawaii), Cynthia Lummis (R-Wyo.), Alex Padilla (D-Calif.), Jim Justice (R-W.Va.), John Fetterman (D-Pa.), Katie Britt (R-Ala.), Jacky Rosen (D-Nev.), Jerry Moran (R-Kan.), Sheldon Whitehouse (D-R.I.), John Barrasso (R-Wyo.), Jeanne Shaheen (D-N.H.), Shelley Moore Capito (R-W.Va.), Kirsten Gillibrand (D-N.Y.), Rick Scott (R-Fla.), Jon Ossoff (D-Ga.), Pete Ricketts (R-Neb.), Tammy Duckworth (D-Ill.), Jim Banks (R-Ind.), Mark Kelly (D-Ariz.), Kevin Cramer (R-N.D.), Andy Kim (D-N.J.), Joni Ernst (R-Iowa), Tammy Baldwin (D-Wis.), Ted Budd (R-N.C.), Gary Peters (D-Mich.), Thom Tillis (R-N.C.), Maria Cantwell (D-Wash.), Cindy Hyde-Smith (R-Miss.), Mark Warner (D-Va.), Roger Marshall (R-Kan.), Elissa Slotkin (D-Mich.), Steve Daines (R-Mont.), Margaret Hassan (D-N.H.), Marsha Blackburn (R-Tenn.), Adam Schiff (D-Calif.), Deb Fischer (R-Neb.), Michael Bennet (D-Colo.), Lisa Murkowski (R-Alaska), Bill Hagerty (R-Tenn.), John Cornyn (R-Texas), Mike Lee (R-Utah), Mike Rounds (R-S.D.), John Thune (R-S.D.), Bernie Moreno (R-Ohio), Ted Cruz (R-Texas), Tom Cotton (R-Ark.), Jon Husted (R-Ohio), James Lankford (R-Okla.), Roger Wicker (R-Miss.), Eric Schmitt (R-Mo.), Markwayne Mullin (R-Okla.), Todd Young (R-Ind.), Josh Hawley (R-Mo.), Dan Sullivan (R-Alaska), Dave McCormick (R-Pa.), Cory Booker (D-N.J.), Bill Cassidy (R-La.) and John Boozman (R-Ark.). 
    Full text of the resolution can be found here. 

    MIL OSI USA News –

  • MIL-OSI: North American Construction Group Ltd. Announces Results for the First Quarter Ended March 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    ACHESON, Alberta, May 14, 2025 (GLOBE NEWSWIRE) — North American Construction Group Ltd. (“NACG”) (TSX:NOA/NYSE:NOA) today announced results for the first quarter ended March 31, 2025. Unless otherwise indicated, financial figures are expressed in Canadian dollars, and comparisons are to the prior period ended March 31, 2024.

    First Quarter 2025 Highlights:

    • Combined revenue of $391.5 million, the second-highest quarter in company history, compared favorably to $345.7 million in the same period last year and was driven equally by higher heavy equipment fleet commissioned in Australia and higher equipment utilization in Canada.
    • Reported revenue of $340.8 million, compared to $297.0 million in the same period last year, was driven primarily by increased capacity in Australia and a 68% utilization in Canada. However, lower utilization in Australia, due to the high number of rain days in February and March, far exceeding historical average, tempered overall performance.
    • Our net share of revenue from equity consolidated joint ventures was $50.7 million in 2025 Q1, compared to $48.7 million in the same period last year. While the Fargo project saw a quarter-over-quarter increase, this was offset by lower volumes within the Nuna Group of Companies and the discontinuation of the Brake Supply joint venture.
    • Adjusted EBITDA of $99.9 million was a slight increase of $2.5 million, or 3%, compared to the 2024 Q1 result of $97.4 million. However, the operational challenges of excessive rainfall in Australia and an extended bitter cold snap in Canada fully offset the 15% increase in revenue.
    • Combined gross profit of $51.6 million and margin of 13.2% declined compared to the $62.4 million and 18.1% metrics posted in the same period last year. The overall margin decrease reflects the specific impacts of rain and cold weather in Australia and Canada.
    • Cash flows generated from operating activities reached $51.4 million, exceeding the $19.0 million reported in the same period last year, primarily due to a lower working capital draw in the current quarter. Sustaining capital additions of $89.9 million reflect the front-loaded nature of our capital maintenance program in Canada.
    • Free cash flow resulted in a use of cash of $41.6 million in the quarter, driven by the consumption of $24.5 million by our working capital accounts. The working capital draw on cash remains directionally consistent to 2024 Q1 and aligns with the typical seasonal impacts of our annual business cycle.
    • Net debt was $867.5 million at March 31, 2025, an increase of $11.3 million from December 31, 2024, as free cash flow usage and growth spending required debt financing. The cash-related interest rate during the quarter on our debt was 6.2% due to Bank of Canada posted rates and the impact on equipment financing rates.
    • Additional highlights during and after the quarter: i) the Fargo-Moorhead flood diversion project passed the 65% completion mark prior to March 31; ii) successfully commenced the early development work at a copper mine in New South Wales; iii) first operational wins achieved under the new Finning parts and component supply and services agreement; iv) converted $73 million of debentures to 3.0 million common shares; and v) on May 1, completed $225 million of senior unsecured financing to increase liquidity as we advance efforts on heavy civil infrastructure and mining opportunities in Australia and North America.

    Joe Lambert, President and CEO stated, “It’s no surprise that severe weather impacts our business, and Q1 2025 proved especially challenging across both geographies. However, we remain optimistic about the more stable conditions expected for the remainder of the year. Our full-year expectations remain intact, and we are eager to execute the contracted scopes for our customers. We continue to see significant opportunities and tailwinds in the heavy civil infrastructure and mining industries in Australia and North America and are diligently advancing efforts to secure new scopes, leveraging our strong reputation in these regions.”

    Consolidated Financial Highlights

        Three months ended    
        March 31,    
    (dollars in thousands, except per share amounts)     2025     2024   Change
    Revenue   $ 340,833     $ 297,026     $ 43,807  
    Cost of sales(i)     242,228       195,670       46,558  
    Depreciation(i)     60,714       47,862       12,852  
    Gross profit(i)   $ 37,891     $ 53,494     $ (15,603 )
    Gross profit margin(i)(ii)     11.1 %     18.0 %   (6.9 )%
    General and administrative expenses (excluding stock-based compensation)(ii)     11,090       10,835       255  
    Stock-based compensation (benefit) expense     (3,408 )     3,608       (7,016 )
    Operating income(i)     30,582       38,480       (7,898 )
    Interest expense, net     13,516       15,597       (2,081 )
    Net income(i)     6,163       11,511       (5,348 )
    Comprehensive income(i)     6,641       10,818       (4,177 )
                 
    Adjusted EBITDA(i)(ii)     99,932       97,386       2,546  
    Adjusted EBITDA margin(i)(ii)(iii)     25.5 %     28.2 %   (2.7 )%
                 
    Per share information            
    Basic net income per share   $ 0.22     $ 0.43     $ (0.21 )
    Diluted net income per share   $ 0.21     $ 0.39     $ (0.18 )
    Adjusted EPS(ii)   $ 0.52     $ 0.79     $ (0.27 )

    (i)The prior year amounts are adjusted to reflect a change in policy. See “Accounting Estimates, Pronouncements and Measures”.
    (ii)See “Non-GAAP Financial Measures”.
    (iii)Adjusted EBITDA margin is calculated using adjusted EBITDA over total combined revenue.

        Three months ended
        March 31,
    (dollars in thousands)     2025       2024  
    Consolidated Statements of Cash Flows        
    Cash provided by operating activities(i)   $ 51,418     $ 18,959  
    Cash used in investing activities(i)     (93,781 )     (66,095 )
    Effect of exchange rate on changes in cash     (1,075 )     (99 )
    Add back of growth and non-cash items included in the above figures:        
    Growth capital additions(ii)     28,066       19,607  
    Capital additions financed by leases(ii)     (26,203 )     (14,156 )
    Free cash flow(i)   $ (41,575 )   $ (41,784 )

    (i)The prior year amounts are adjusted to reflect a change in policy. See “Accounting Estimates, Pronouncements and Measures”.
    (ii)See “Non-GAAP Financial Measures”.

    Declaration of Quarterly Dividend

    On May 14th, 2025, the NACG Board of Directors declared a regular quarterly dividend (the “Dividend”) of twelve Canadian cents ($0.12) per common share, payable to common shareholders of record at the close of business on June 4, 2025. The Dividend will be paid on July 11, 2025, and is an eligible dividend for Canadian income tax purposes.

    Resignation of Vanessa Guthrie

    Effective May 14, 2025, Dr. Vanessa Guthrie, AO, resigned from her position as a director of NACG for personal reasons. Martin Ferron, Chair of the Board, stated “We wish to extend our sincerest thanks to Dr. Guthrie for the insight and perspectives she brought to the company during what was an important transitional period for us as we expanded operations into Australia. We wish her all the best in the future.”

    Results for the Three Months Ended March 31, 2025

    Revenue of $340.8 million represented a $43.8 million (or 15%) increase from 2024 Q1 as Heavy Equipment – Australia and Heavy Equipment – Canada were up 18% and 13%, respectively.

    Revenue within Heavy Equipment – Australia, which is primarily comprised of the MacKellar Group (“MacKellar”), increased $23.8 million quarter-over-quarter primarily due to a 25% increase in the large capacity heavy equipment fleet over the past twelve months. This fleet increase was offset by the 12% decrease in equipment utilization (68% versus 2024 Q1 of 80%) as the high number of rain days experienced in both February and March well exceeded historical averages and operational expectations. The Carmichael mine was significantly affected by rain, receiving over 340 mm of rainfall over the two months, nearly double the historical average and our forecast of 180 mm. Excessive rainfall caused the slowdown of mining activity and the parking of the large capacity heavy mining equipment due to flooding of the lower lying mining areas as well as certain mine, access and service roads requiring additional maintenance.

    Equipment utilization in the oil sands region of 68% drove a 13% increase from 2024 Q1 in the Heavy Equipment – Canada segment. Demand for large capacity heavy equipment was strong for the full quarter, with top-line performance constrained only by extended periods of cold weather and mechanical availability. The Millennium mine currently has approximately 40% of our fleet operating on site and is the primary driver of both equipment utilization and top-line revenue.

    Combined revenue in the quarter of $391.5 million, the second-highest quarter in company history, represented a $45.8 million (or 13%) increase from 2024 Q1. Our share of revenue generated in the quarter by joint ventures and affiliates was $50.7 million, compared to $48.7 million in 2024 Q1 (an increase of 4%) with quarter-over-quarter increases in the Fargo project offset by lower volumes within the Nuna Group of Companies (“Nuna”) as well as the termination of the Brake Supply Joint Venture which occurred in the latter half of 2024. The Fargo project progressed past the 65% completion mark during the quarter with the modest top-line revenue reflecting the expected impact of winter conditions on civil earth-moving scopes.

    Adjusted EBITDA of $99.9 million was a slight increase of $2.5 million, or 3%, from the 2024 Q1 result of $97.4 million as the operational challenges of excessive rainfall in Australia and a bitter extended cold snap in Canada fully offset the 15% increase in revenue. The adjusted EBITDA margin of 25.5% was lower compared to the previous quarter, primarily due to the challenging weather conditions in both segments, which affected operational efficiency. 2024 Q1, which experienced typical seasonal conditions, posted a 28.2% adjusted EBITDA margin with the approximate 3.0% variance being a fair reflection of the weather’s impact to 2025 Q1.

    Excessive rainfall in Australia in February and March impacted operating margins with the Carmichael mine being the most affected in terms of the sheer quantity of rainfall experienced in those two months. Steady margin performance depends on the continuous operation of the primary fleet of large capacity heavy mining equipment. When this equipment is parked due to weather or other interruptions, not only is top-line revenue constrained, but it also becomes an opportune time to perform certain maintenance activities. While these activities support longer-term equipment reliability and utilization, they can increase costs, impacting margins in the current quarter. Additionally, rain days contribute to further cost pressures, as they introduce expenses not typically incurred during normal operations, such as site cleanup, dewatering, and related weather recovery efforts.

    Based on historical precedent, gross margins at that site were over 10% lower than operational expectation and drove the decrease in gross profit margin in this segment from 24.7% in 2024 Q1 to 16.1% in 2025 Q1.

    The extreme cold snap in the oil sands region in February impacted operating margins with all five operating sites being equally affected. This segment gross profit margin of 5.5% was impacted significantly by this cold weather with the correlated high idle time and required additional cost incurred to operate at frigid temperatures for an extended period of time. Using 2024 Q1 and 2023 Q1 as reasonable benchmarks, it is estimated that the cold weather impacted gross profit margin by approximately 5.0% to 7.0%. In addition to the weather, extraordinary early component failures related to the now discontinued component supply agreement with a third-party vendor impacted margins by $4.3 million in the quarter.

    Depreciation of our equipment fleet was 17.8% of revenue in the quarter, compared to 16.1% in 2024 Q1. The Heavy Equipment – Canada fleet averaged approximately 24.0% of revenue due to required high idle time in February. This is offset by depreciation on the Heavy Equipment – Australia fleet, which averaged approximately 12.4% of revenue, largely driven by MacKellar depreciation of 13.0% of revenue in the quarter. On a combined basis, depreciation averaged 17.1% of combined revenue in the quarter, compared to 15.0% in 2024 Q1, due to high depreciation experienced in Canada during the quarter.

    General and administrative expenses (excluding stock-based compensation) were $11.1 million, or 3.3% of revenue, compared to $10.8 million, or 3.6% of revenue, in 2024 Q1. Cash related interest expense incurred on our debt for the quarter was $12.9 million at an average cost of debt of 6.2%, compared to 8.1% in 2024 Q1, as rate decreases posted by the Bank of Canada directly impact our Credit Facility and have a delayed impact on the rates for secured equipment-backed financing.

    Adjusted earnings per share (“EPS”) of $0.52 and adjusted net earnings of $14.5 million were down 34.2% and 31.0% from the prior year figures of $0.79 and $21.0 million, respectively. The $6.5 million decrease in adjusted net earnings is due to the slightly higher EBITDA being more than offset by the higher depreciation expenses, as discussed above, as well as higher interest expenses associated with the fleet acquired and debt assumed upon acquisition of MacKellar.

    Adjusted earnings per share (“EPS”) of $0.52 was down $0.27 per share from the prior year figure of $0.79 per share primarily from the factors mentioned above. Weighted-average common shares outstanding for the first quarters of 2025 and 2024 were 27,859,886 and 26,733,473, respectively.

    Between January 29 and February 28, 2025, approximately 3.0 million common shares were issued to convertible debenture holders for a value of $72.7 million and which contributed approximately $0.02 in the aforementioned quarter-over-quarter adjusted earnings per share variance of $0.27 per share.

    Free cash flow was a use of cash of $41.6 million in the quarter primarily due to the consumption of $24.5 million by our working capital accounts. The working capital draw on cash is directionally consistent to 2024 Q1 and is comparable with past seasonal impacts of our annual business cycle. Adjusted EBITDA generated $99.9 million and when factoring in sustaining capital additions ($89.9 million) and cash interest paid ($16.2 million), $6.2 million of cash was used by the overall business in the quarter.

    Business Updates

    2025 Strategic Focus Areas

    • Safety – maintain our uncompromising commitment to health and safety while elevating the standard of excellence in the field, particularly with regards to front-line leadership training;
    • Operational excellence – put into action practical and experienced-based protocols to ensure predictable high-quality project execution in Australia;
    • Execution – enhance equipment availability in Canada through improved fleet maintenance, equipment telematics and reliability programs, technical improvements and management systems;
    • Integration – utilize recently implemented ERP at MacKellar Group to optimize business processes to lower overall costs and improve working capital management;
    • Organic growth – based on strong site operating performance, leverage customer satisfaction to earn contract extensions and expansions
    • Diversification – pursue diversification of customers and resources through strategic partnerships, industry expertise and investment in Indigenous joint ventures; and
    • Sustainability – further develop and deliver into our environmental, social, and governance goals.

    Liquidity

    Our current liquidity positions us well moving forward to fund organic growth and the required correlated working capital investments. Including equipment financing availability and factoring in the amended Credit Facility agreement, total available capital liquidity of $198.5 million includes total liquidity of $147.2 million and $32.9 million of unused finance lease borrowing availability as at March 31, 2025. Liquidity is primarily provided by the terms of our $524.7 million credit facility which allows for funds availability based on a trailing twelve-month EBITDA as defined in the agreement, and is now scheduled to expire in May 2028.

        March 31,
    2025    		   December 31,
    2024
    Cash   $ 78,241     $ 77,875  
    Credit Facility borrowing limit     524,675       522,550  
    Credit Facility drawn     (421,702 )     (395,844 )
    Letters of credit outstanding     (33,998 )     (33,992 )
    Cash liquidity(i)   $ 147,216     $ 170,589  
    Finance lease borrowing limit     400,000       400,000  
    Other debt borrowing limit     20,000       20,000  
    Equipment financing drawn     (310,362 )     (253,639 )
    Guarantees provided to joint ventures     (58,314 )     (61,675 )
    Total capital liquidity(i)   $ 198,540     $ 275,275  

    (i)See “Non-GAAP Financial Measures”.

    Subsequent to the three months ended March 31, 2025, on April 25, 2025, we announced that we entered into an underwriting agreement to sell, pursuant to a private placement offering, $225 million aggregate principal amount of 7.75% Senior Unsecured Notes due May 1, 2030 (the “Notes”). The agreement closed on May 1, 2025. The Notes were issued at a price of $1,000 per $1,000 of Notes. The Notes will accrue interest at the rate of 7.75% per annum, payable in cash in equal payments semi-annually in arrears each November 1 and May 1, commencing on November 1, 2025. We intend to use the net proceeds of the Offering to repay indebtedness under our existing Credit Agreement, and for general corporate purposes.

    NACG’s outlook for 2025

    The following table provides projected key measures for 2025. These measures are predicated on contracts currently in place, including expected renewals, and the heavy equipment fleet that we own and operate.

    Key measures   2025
    Combined revenue(i)   $1.4 – $1.6B
    Adjusted EBITDA(i)   $415 – $445M
    Sustaining capital(i)   $180 – $200M
    Adjusted EPS(i)   $3.70 – $4.00
    Free cash flow(i)   $130 – $150M
         
    Capital allocation    
    Growth spending(i)   $65 – $75M
    Net debt leverage(i)   Targeting 1.7x

    (i)See “Non-GAAP Financial Measures”.

    Conference Call and Webcast

    Management will hold a conference call and webcast to discuss our financial results for the quarter ended March 31, 2025, tomorrow, Thursday, May 15, 2025, at 7:00 am Mountain Time (9:00 am Eastern Time).

    The call can be accessed by dialing:
          Toll free: 1-800-717-1738
          Conference ID: 42703

    A replay will be available through June 12, 2025, by dialing:
          Toll Free: 1-888-660-6264
          Conference ID: 42703
          Playback Passcode: 42703

    The Q1 2025 earnings presentation for the webcast will be available for download on the company’s website at www.nacg.ca/presentations/

    The live presentation and webcast can be accessed at:

    https://onlinexperiences.com/scripts/Server.nxp?LASCmd=AI:4;F:QS!10100&ShowUUID=5E415713-29A1-4D60-A023-BF0345BED32F

    A replay will be available until June 12, 2025, using the link provided.

    Basis of Presentation

    We have prepared our consolidated financial statements in conformity with accounting principles generally accepted in the United States (“US GAAP”). Unless otherwise specified, all dollar amounts discussed are in Canadian dollars. Please see the Management’s Discussion and Analysis (“MD&A”) for the quarter ended March 31, 2025, for further detail on the matters discussed in this release. In addition to the MD&A, please reference the dedicated Q1 2025 Results Presentation for more information on our results and projections which can be found on our website under Investors – Presentations.

    Change in significant accounting policy – Classification of multi-use tires

    Effective in the first quarter of 2025, we have changed our accounting policy for the classification of multi-life tires. These tires are now recognized as property, plant, and equipment on the Consolidated Balance Sheets and are amortized through depreciation on the Consolidated Statements of Operations and Comprehensive Income. Previously, multi-life tires were classified as inventories and expensed through cost of sales when placed into service. This change in accounting policy provides a more accurate reflection of the role of multi-life tires as components of the heavy equipment in which they are utilized, aligning the accounting treatment with the economic substance of their use.

    We have applied this change retrospectively in accordance with Accounting Standards Codification (“ASC”) 250, Accounting Changes and Error Corrections, by restating the comparative period. For further details regarding the retrospective adjustments, refer to Note 16 in the consolidated financial statements for the period ended March 31, 2025.

    Forward-Looking Information

    The information provided in this release contains forward-looking statements. Forward-looking statements include statements preceded by, followed by or that include the words “anticipate”, “believe”, “expect”, “should” or similar expressions.

    The material factors or assumptions used to develop the above forward-looking statements include, and the risks and uncertainties to which such forward-looking statements are subject, are highlighted in the MD&A for the three months ended March 31, 2025. Actual results could differ materially from those contemplated by such forward-looking statements because of any number of factors and uncertainties, many of which are beyond NACG’s control. Undue reliance should not be placed upon forward-looking statements and NACG undertakes no obligation, other than those required by applicable law, to update or revise those statements. For more complete information about NACG, please read our disclosure documents filed with the SEC and the CSA. These free documents can be obtained by visiting EDGAR on the SEC website at www.sec.gov or on the CSA website at www.sedarplus.com.

    Non-GAAP Financial Measures

    This press release presents certain non-GAAP financial measures because management believes that they may be useful to investors in analyzing our business performance, leverage and liquidity. The non-GAAP financial measures we present include “adjusted EBIT”, “adjusted EBITDA”, “adjusted EBITDA margin”, “adjusted EPS”, “adjusted net earnings”, “capital additions”, “capital work in progress”, “cash liquidity”, “cash provided by operating activities prior to change in working capital”, “cash related interest expense”, “combined gross profit”, “combined gross profit margin”, “equity investment depreciation and amortization”, “equity investment EBIT”, “free cash flow”, “general and administrative expenses (excluding stock-based compensation)”, “gross profit margin”, “growth capital”, “margin”, “net debt”, “net debt leverage”, “sustaining capital”, “total capital liquidity”, “total combined revenue”, and “total debt”. A non-GAAP financial measure is defined by relevant regulatory authorities as a numerical measure of an issuer’s historical or future financial performance, financial position or cash flow that is not specified, defined or determined under the issuer’s GAAP and that is not presented in an issuer’s financial statements. These non-GAAP measures do not have any standardized meaning and therefore are unlikely to be comparable to similar measures presented by other companies. They should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Each non-GAAP financial measure used in this press release is defined and reconciled to its most directly comparable GAAP measure in the “Non-GAAP Financial Measures” section of our Management’s Discussion and Analysis filed concurrently with this press release.

    Reconciliation of total reported revenue to total combined revenue

        Three months ended
        March 31,
    (dollars in thousands)     2025       2024  
    Revenue from wholly-owned entities per financial statements   $ 340,833     $ 297,026  
    Share of revenue from investments in affiliates and joint ventures     136,237       125,838  
    Elimination of joint venture subcontract revenue     (85,566 )     (77,151 )
    Total combined revenue(i)   $ 391,504     $ 345,713  

    (i)See “Non-GAAP Financial Measures”.

    Reconciliation of reported gross profit to combined gross profit

        Three months ended
        March 31,
    (dollars in thousands)     2025       2024  
    Gross profit from wholly-owned entities per financial statements   $ 37,891     $ 53,494  
    Share of gross profit from investments in affiliates and joint ventures     13,677       8,935  
    Combined gross profit(i)(ii)   $ 51,568     $ 62,429  

    (i)See “Non-GAAP Financial Measures”.
    (ii)The prior year amounts are adjusted to reflect a change in policy. See “Accounting Estimates, Pronouncements and Measures”.

    Reconciliation of net income to adjusted net earnings, adjusted EBIT and adjusted EBITDA

        Three months ended
        March 31,
    (dollars in thousands)     2025       2024  
    Net income(i)   $ 6,163     $ 11,511  
    Adjustments:        
    Stock-based compensation (benefit) expense     (3,408 )     3,608  
    (Gain) loss on disposal of property, plant and equipment     (974 )     261  
    Change in fair value of contingent obligations from adjustments to estimates     (1,317 )     1,438  
    Loss on derivative financial instruments     6,912       —  
    Equity investment loss on derivative financial instruments     1,019       1,954  
    Equity investment restructuring costs     —       4,517  
    Depreciation expense relating to early component failures     4,274       —  
    Post-acquisition asset relocation and integration costs     1,640       —  
    Tax effect of the above items     208       (2,260 )
    Adjusted net earnings(i)(ii)     14,517       21,029  
    Adjustments:        
    Tax effect of the above items     (208 )     2,260  
    Interest expense, net     13,516       15,597  
    Equity investment EBIT(ii)     3,310       (3,768 )
    Equity (earnings) loss in affiliates and joint ventures     (3,283 )     1,512  
    Change in fair value of contingent obligations     4,347       3,955  
    Income tax expense     4,244       4,467  
    Adjusted EBIT(i)(ii)     36,443       45,052  
    Adjustments:        
    Depreciation(i)     60,714       47,862  
    Amortization of intangible assets     601       310  
    Depreciation expense relating to early component failures     (4,274 )     —  
    Equity investment depreciation and amortization(ii)     6,448       4,162  
    Adjusted EBITDA(i)(ii)   $ 99,932     $ 97,386  
    Adjusted EBITDA margin(i)(ii)(iii)     25.5 %     28.2 %

    (i)The prior year amounts are adjusted to reflect a change in policy. See “Accounting Estimates, Pronouncements and Measures”.
    (ii)See “Non-GAAP Financial Measures”.
    (iii)Adjusted EBITDA margin is calculated using adjusted EBITDA over total combined revenue.

    Reconciliation of equity earnings in affiliates and joint ventures to equity investment EBIT

        Three months ended
        March 31,
    (dollars in thousands)     2025       2024  
    Equity (loss) earnings in affiliates and joint ventures   $ 3,283     $ (1,512 )
    Adjustments:        
    Loss (gain) on disposal of property, plant and equipment     2       (175 )
    Interest income     (29 )     (573 )
    Income tax expense (benefit)     54       (1,508 )
    Equity investment EBIT(i)   $ 3,310     $ (3,768 )

    (i)See “Non-GAAP Financial Measures”.

    About the Company

    North American Construction Group Ltd. is a premier provider of heavy civil construction and mining services in Australia, Canada, and the U.S. For 70 years, NACG has provided services to the mining, resource and infrastructure construction markets.

    For further information contact:

    Jason Veenstra, CPA, CA
    Chief Financial Officer
    North American Construction Group Ltd.
    (780) 960-7171
    IR@nacg.ca
    www.nacg.ca

    Interim Consolidated Balance Sheets

    (Expressed in thousands of Canadian Dollars)
    (Unaudited)

        March 31,
    2025    		   December 31,
    2024(i)
    Assets        
    Current assets        
    Cash   $ 78,241     $ 77,875  
    Accounts receivable     186,850       166,070  
    Contract assets     19,676       4,135  
    Inventories     74,242       69,027  
    Prepaid expenses and deposits     6,523       7,676  
    Assets held for sale     782       683  
          366,314       325,466  
    Property, plant and equipment, net of accumulated depreciation of $503,486 (December 31, 2024 – $500,303)     1,314,635       1,251,874  
    Operating lease right-of-use assets     11,539       12,722  
    Investments in affiliates and joint ventures     86,341       84,692  
    Intangible assets     10,072       9,901  
    Other assets     5,581       9,845  
    Total assets   $ 1,794,482     $ 1,694,500  
    Liabilities and shareholders’ equity        
    Current liabilities        
    Accounts payable   $ 138,700     $ 110,750  
    Accrued liabilities     59,454       78,010  
    Contract liabilities     6,734       1,944  
    Current portion of long-term debt     150,301       84,194  
    Current portion of contingent obligations     40,139       39,290  
    Current portion of operating lease liabilities     1,475       1,771  
          396,803       315,959  
    Long-term debt     663,622       719,399  
    Contingent obligations     91,107       88,576  
    Operating lease liabilities     10,612       11,441  
    Other long-term obligations     42,792       44,711  
    Deferred tax liabilities     127,615       125,378  
          1,332,551       1,305,464  
    Shareholders’ equity        
    Common shares (authorized – unlimited number of voting common shares; issued and outstanding – March 31, 2025 – 30,601,681 (December 31, 2024 – 27,704,450))     298,858       228,961  
    Treasury shares (March 31, 2025 – 1,004,074 (December 31, 2024 – 1,000,328))     (16,036 )     (15,913 )
    Additional paid-in capital     20,856       20,819  
    Retained earnings     158,877       156,271  
    Accumulated other comprehensive loss     (624 )     (1,102 )
    Shareholders’ equity     461,931       389,036  
    Total liabilities and shareholders’ equity   $ 1,794,482     $ 1,694,500  

    (i)The prior year amounts are adjusted to reflect a change in policy. See “Accounting Estimates, Pronouncements and Measures”.

    Interim Consolidated Statements of Operations and Comprehensive Income

    (Expressed in thousands of Canadian Dollars, except per share amounts)
    (Unaudited) 

        Three months ended
        March 31,
          2025     2024(i)  
    Revenue   $ 340,833     $ 297,026  
    Cost of sales     242,228       195,670  
    Depreciation     60,714       47,862  
    Gross profit     37,891       53,494  
    General and administrative expenses     7,682       14,443  
    Amortization of intangible assets     601       310  
    (Gain) loss on disposal of property, plant and equipment     (974 )     261  
    Operating income     30,582       38,480  
    Interest expense, net     13,516       15,597  
    Equity (earnings) loss in affiliates and joint ventures     (3,283 )     1,512  
    Loss on derivative financial instruments     6,912       —  
    Change in fair value of contingent obligations     3,030       5,393  
    Income before income taxes     10,407       15,978  
    Current income tax expense     1,777       4,296  
    Deferred income tax expense     2,467       171  
    Net income   $ 6,163     $ 11,511  
    Other comprehensive income        
    Unrealized foreign currency translation (gain) loss     (478 )     693  
    Comprehensive income   $ 6,641     $ 10,818  
    Per share information        
    Basic net income per share   $ 0.22     $ 0.43  
    Diluted net income per share   $ 0.21     $ 0.39  

    (i)The prior year amounts are adjusted to reflect a change in policy. See “Accounting Estimates, Pronouncements and Measures”.

    The MIL Network –

  • MIL-OSI USA: At Spotlight Forum, Warren Slams Trump, McMahon’s Attacks on Public Education, Invites Americans to Share Stories for Meeting with McMahon

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren

    May 14, 2025

    Warren: “At a time when college costs are already too high—when the American Dream is out of reach for too many—President Trump and Congressional Republicans are making it harder for working-class families to get ahead.”

    Forum Livestream

    Washington, D.C. – U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs (BHUA), delivered opening remarks at a spotlight forum entitled “Stealing the American Dream: How Trump and Republicans Are Raising Education Costs for Families.” 

    Senator Warren, in her opening statement, slammed President Trump and Education Secretary Linda McMahon’s reckless actions to dismantle the Department of Education, which will make it harder and more expensive for working- and middle-class kids to receive an education. She also highlighted how Trump’s “big, beautiful bill” will slash $351 billion in education funding, harming students and borrowers to pay for tax cuts for millionaires, billionaires, and wealthy corporations.

    Senator Warren invited Education Secretary Linda McMahon to testify at today’s hearing to defend the Trump administration’s actions to dismantle public education, including her decision to take Social Security benefits away from seniors with defaulted student loan debt. Secretary McMahon declined Senator Warren’s invitation and asked to meet with Senator Warren instead. Senator Warren closed by asking Americans to share their stories and questions for her to bring to her meeting with Secretary McMahon.

    Opening Statement
    Senate Banking, Housing, and Urban Affairs Committee Spotlight Forum: Stealing the American Dream: How Trump and Republicans Are Raising Education Costs for Families.
    May 14, 2025
    As Prepared for Delivery

    Senator Elizabeth Warren: Last month, in the face of an unprecedented attack on public education led by co-Presidents Donald Trump and Elon Musk, I launched the Save Our Schools campaign.

    Trump, Musk, and Education Secretary Linda McMahon are determined to make it harder and more expensive for working- and middle-class kids to get an education. Republicans in Congress are piling on as well. 

    So let me be clear: I will fight for public education and for all the kids, parents, teachers, grandparents and more who want better lives for themselves and the people they love. 

    That’s why I’m holding today’s forum called “Stealing the American Dream: How Trump and Republicans Are Raising Education Costs for Families.”

    At a time when college costs are already too high—when the American Dream is out of reach for too many—President Trump and Congressional Republicans are making it harder for working-class families to get ahead.

    First, they want to eliminate the Department of Education. That’s the agency that gives millions of students a chance to go to college when their families can’t just write a check for the sticker price. It’s also the agency charged with protecting students and borrowers from bad actors like shady student loan servicers and predatory for-profit colleges.

    To be clear, the money we invest in post-high school education isn’t charity. This is an investment in our people so they can get good jobs, start businesses, and help grow our economy.

    But Donald Trump has already fired half of the federal workers who help make these investments. He’s also signed an executive order to try to get rid of the Education Department altogether. And to top it off, he’s trying to dismantle the Consumer Financial Protection Bureau, taking another cop off the beat for student loan borrowers.

    And if you thought we could count on Republicans in Congress to stop this madness, think again. Nope. They are making things worse—much worse. 

    Last month, House Republicans advanced a bill to make higher education even more expensive for American families. Why? So they can pay for tax cuts for millionaires and billionaires. 

    Their bill would increase monthly student loan payments. 

    It would trap borrowers with student loan debt for even longer. 

    It would make it harder to get Pell Grants.

    It would end rules that protect students from bad schools and greedy for-profit colleges that rip them off.

    Who benefits from putting all these costs on people whose only sin is to try to get an education? Only President Trump’s billionaire and millionaire friends. They want to cut these education investments and use the money to stuff their pockets with tax giveaways. 

    Adding insult to injury? Now, they’re going after people’s Social Security checks too. We’ve already seen the Trump Administration work to gut Social Security, which Elon Musk calls a Ponzi scheme. President Trump has let DOGE run rampant at the Social Security Administration, laying off employees and closing field offices.

    Last month, the Trump Administration announced the next phase in their plans. They are getting ready to hold back Social Security checks from student loan borrowers that are in default on decades-old student loans. Almost half a million seniors could lose their Social Security benefits.

    So, I want to thank our witnesses for joining us today and helping to educate us on how these Trump policies would hurt American families.

    And I want to point out who is not here: the Secretary of Education, Linda McMahon. I invited her to join today because she has a lot to answer for. The questions are pretty straightforward:

    Why is the Secretary of Education jacking up costs for middle-class kids trying to go to college?

    Why is the Secretary of Education firing the staff who protect students from scammers?

    Why is the Secretary of Education taking away Social Security benefits from tens of thousands of seniors with student debt?

    Secretary McMahon refused to answer those questions in front of the American people. Instead, she asked for a meeting. I’m happy to sit down with her. But if Secretary McMahon won’t face parents, teachers, and students who have been hurt by her reckless actions, I’m bringing their stories straight to her. So, today I’m asking everyone to share their stories. Please send them to our Save Our Schools campaign, because there is power in sharing our stories and there is power in fighting back. That is why we are here today.

    MIL OSI USA News –

  • MIL-OSI: Old National Bancorp Announces Quarterly Dividends

    Source: GlobeNewswire (MIL-OSI)

    EVANSVILLE, Ind., May 14, 2025 (GLOBE NEWSWIRE) — (NASDAQ: ONB) – Old National Bancorp (the “Company” or “Old National”) today announced that its Board of Directors declared a quarterly cash dividend of $0.14 per share on the Company’s outstanding shares of common stock. This quarterly cash dividend will be payable on June 16, 2025, to shareholders of record as of the close of business on June 5, 2025.

    In addition, the Board of Directors declared a quarterly cash dividend of $17.50 per share (equivalent to $0.4375 per depositary share or 1/40th interest per share) on Old National’s 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (NASDAQ: ONBPP) and Series C (NASDAQ: ONBPO). The dividends are payable on August 20, 2025, to shareholders of record as of the close of business on August 5, 2025.

    ABOUT OLD NATIONAL

    Old National Bancorp is the holding company of Old National Bank. As the fifth largest commercial bank headquartered in the Midwest, Old National proudly serves clients primarily in the Midwest and Southeast. With approximately $70 billion of assets and $37 billion of assets under management (including Bremer Financial Corporation on a pro forma basis as of March 31, 2025), Old National ranks among the top 25 banking companies headquartered in the United States. Tracing our roots to 1834, Old National focuses on building long-term, highly valued partnerships with clients while also strengthening and supporting the communities we serve. In addition to providing extensive services in consumer and commercial banking, Old National offers comprehensive wealth management and capital markets services. For more information and financial data, please visit Investor Relations oldnational.com. In 2024, Points of Light named Old National one of “The Civic 50” – an honor reserved for the 50 most community-minded companies in the United States.

    Investor Relations:
    Lynell Durchholz
    (812) 464-1366
    lynell.durchholz@oldnational.com

    Media Relations:
    Rick Vach
    (904) 535-9489
    rick.vach@oldnational.com

    The MIL Network –

  • MIL-OSI USA: Pressley, Booker, Warren Unveil Bill to Suspend Garnishments for Student Loan Borrowers

    Source: United States House of Representatives – Congresswoman Ayanna Pressley (MA-07)

    Bill Comes as Trump Admin. Set to Seize Hard-Earned Wages, Tax Refunds, and Social Security Checks for Struggling Borrowers

    The Ending Administrative Wage Garnishment Act of 2025 will also reform administration of the administrative wage garnishment program

    Bill Text (PDF)

    WASHINGTON – Today, Congresswoman Ayanna Pressley (MA-07), along with Senators Cory Booker (D-NJ) and Elizabeth Warren (D-MA), reintroduced the Ending Administrative Wage Garnishment Act of 2025, legislation that would provide borrower relief and support by suspending garnishment as a tool for student debt collection by the federal government.

    On April 22, 2025, the Department of Education announced that, starting May 5th, it will resume collections on defaulted federal student loans, including wage garnishments, tax refund interceptions, and seizure of Social Security benefits. For the nearly 5.5 million people currently in default—and soon for the projected 8 million additional people in delinquency—this means that they will face the government’s harsh collection tactics for the first time in over five years. This shift coincides with mass firings at the Department of Education and limited access to income-driven repayment plans, leaving students without critical support to navigate the repayment process.  

    “No one should have their hard-earned wages, tax refunds, and Social Security checks seized by Donald Trump—and our bill would ensure they do not,” said Representative Pressley. “The Trump Administration should not be in the business of picking the pockets of our most vulnerable borrowers, gutting the Department of Education or exacerbating the student debt crisis. I am proud to partner with Senators Booker and Warren to push back against this Administration’s shameful garnishment tactics and stand up for our student borrowers.”

    “Wage garnishment allows the government to instruct employers to withhold up to 15 percent of an individual’s hard-earned wages, as well as intercept tax refunds, and seize Social Security benefits in order to collect student loan debt,” said Senator Booker. “If resumed, this harmful practice will hurt millions of Americans already struggling to make ends meet while paying off their student loans. This legislation will put an end to the Trump’s administration’s attempt to punish vulnerable student loan borrowers.”

    “It’s cruel for the Trump administration to restart collections while it crashes the economy and fires employees that help people navigate the loan repayment system,” said Senator Warren. “Our commonsense bill stops the administration from going after working people and improperly taking a chunk of borrowers’ paychecks.”

    “Amidst unprecedented economic uncertainty and as millions of working families are struggling with the rising costs of everyday essentials, the Trump Administration’s calloused decision to unleash abusive and uncontrollable collection tools that have the power to take borrower’s hard earned wages without safeguards. Instead of helping the 5 million borrowers that have fallen into default and the millions more that are behind and now at risk of default later this year, this Administration appears set on inflicting massive economic harm on millions of Americans—a decision that will further drag down an already struggling economy,” said SBPC Policy Director Aissa Canchola Banez. “We applaud Senator Booker and Congresswoman Pressley for introducing the Ending Administrative Garnishment Act which will rein in the Secretary of Education’s authority to subject borrowers to administrative wage garnishment and ensure that critical safeguards are in place.”

    The Ending Administrative Wage Garnishment Act of 2025:

    • Suspends the Secretary of Education’s authority to garnish wages, tax refunds, Social Security checks, or other earned benefits
    • Mandates the Department of Education to:
      • Promptly refund improperly garnished wages within one week.
      • Establish the ability to independently suspend or terminate garnishment operations upon identifying errors.
      • Ensure employers verify garnishment information quarterly.
    • Prohibits garnishment on loans that have been outstanding for more than 10 years.
    • Establishes a private right of action allowing borrowers to sue employers who improperly garnish wages after a garnishment order is suspended.
    • Requires the Department to pay double damages to borrowers whose wages are improperly garnished.

    To read the full text of the bill, click here.

    Rep. Pressley has been a leading voice in Congress urging President Biden to cancel student debt. Following years of advocacy by Rep. Pressley—in partnership with colleagues, borrowers, and advocates—the Biden-Harris Administration announced a historic plan to cancel student debt that stands to benefit over 40 million people. She has consistently helped borrowers access student debt cancellation resources, including PSLF, and she was proud to welcome a union educator and PSLF recipient as her guest to President Biden’s State of the Union Address in March.

    • On October 18, 2024, Rep. Pressley applauded the Biden-Harris Administration’s approval of approximately $4.5 billion in additional student debt cancellation for approximately 60,000 workers nationwide who work in public service.
    • On October 2, 2024, Rep. Pressley joined borrowers and advocates to unveil new state-by-state data quantifying the harm that Project 2025 would have on millions of public service workers nationwide.
    • On September 10, 2024, Rep. Pressley joined Senator Warren and Rep. Jim Clyburn in urging the U.S. Department of Education to consider terminating its contract with student loan servicer MOHELA.
    • On August 29, Rep. Pressley issued a statement following the Supreme Court’s refusal to reinstate President Biden’s Saving on a Valuable Education (SAVE) student debt relief program.
    • On August 9, 2024, Rep. Pressley joined Senator Warren, Representative Dean, and their colleagues urging student loan servicer Navient to reform its flawed process to cancel the private student loans of borrowers who attended fraudulent, for-profit colleges.
    • On June 25, 2024, Rep. Pressley issued a statement on federal judges in Missouri and Kansas siding with Republican states to block portions of President Biden’s Saving on a Valuable Education (SAVE) student debt relief program. 
    • On June 25, 2024, Rep. Pressley colleagues, borrowers, and advocates urged the Biden Administration to terminate the contract of federal student loan servicer MOHELA. Their calls follow MOHELA’s repeated failure to perform basic loan servicing functions and ongoing harm caused by MOHELA to student loan borrowers.
    • On May 20, 2024, Rep. Pressley, along with Reps. Omar, Clyburn and Wilson, led their colleagues in urging the U.S. Department of Education to ensure its proposed student debt relief rule is implemented in the most effective and efficient manner possible for millions of borrowers.
    • On May 1, 2024, Rep. Pressley issued a statement applauding the Biden Administration’s approval of student loan discharge for 317,000 borrowers who attended The Art Institutes, including over 3,500 borrowers in Massachusetts.
    • On April 14, 2024, Rep. Pressley applauded President Biden’s approval of an additional $7.4 billion in student debt cancellation for 277,000 borrowers.
    • On April 8, 2024, Rep. Pressley hailed President Biden’s announcement of new plans to provide student debt relief for tens of millions of borrowers across the country.
    • On March 21, 2024, Rep. Pressley applauded the Biden-Harris Administration’s approval of $5.8 billion in additional student loan debt cancellation for 77,700 public service workers.
    • On March 20, 2024, Rep. Pressley and Senator Elizabeth Warren led their colleagues in calling on federal agencies to end the practice of offsetting Social Security benefits to pay off defaulted student loans.
    • On March 7, 2024, Rep. Pressley welcomed Priscilla Higuera Valentine, a first generation American, a proud union educator with Boston Public Schools and the Boston Teachers Union, and the daughter of a Colombian immigrant, who has received over $117,000 in student debt relief under the Biden-Harris Administration’s improved Public Service Loan Forgiveness (PSLF) Program, as her guest to President Biden’s State of the Union Address.
    • On February 23, 2024, Rep. Pressley applauded the Biden-Harris Administration’s approval of $1.2 billion in student debt cancellation for nearly 153,000 borrowers nationwide, including $19.5 million in cancellation for 2,490 Massachusetts borrowers.
    • On January 26, 2024, Rep. Pressley and Senator Elizabeth Warren (D-MA) led their colleagues in calling on the Secretary of Education Miguel Cardona to host a fourth session of the student debt negotiated rulemaking to consider relief for borrowers experiencing financial hardship. She applauded ED’s announcement that it would heed their calls.
    • On December 11, 2023, Rep. Pressley testified at the U.S. Department of Education’s final hearing on student debt cancellation.
    • On December 11, 2023, Rep. Pressley and Senator Elizabeth Warren (D-MA), along with Senators Chuck Schumer (D-NY), Bernie Sanders (I-VT), Alex Padilla (D-CA), and Representatives Ilhan Omar (MN-05) and Frederica Wilson (FL-24), sent a letter to U.S. Secretary of Education Miguel Cardona, urging him to leverage his existing and full authority under the Higher Education Act to provide expanded student debt relief to working and middle-class borrowers. 
    • On November 30, 2023, Rep. Pressley emphasized the crucial role of the Consumer Financial Protection Bureau (CFPB) in protecting student loan borrowers from incompetent and predatory student loan servicers.
    • On November 6, 2023, Rep. Pressley joined Attorney General Andrea Campbell, Mayor Michelle Wu, and Senator Elizabeth Warren (D-MA) for a clinic to help federal student loan borrowers access a temporary opportunity to get closer to Public Service Loan Forgiveness (PSLF). 
    • On September 25, 2023, Rep. Pressley hosted a policy discussion with borrowers and advocates at which they renewed their urgent call for student debt cancellation with loan payments set to resume on October 1, 2023.
    • On August 23, 2023, Rep. Pressley, Sen. Warren, and their colleagues led over 80 lawmakers in a letter to President Joe Biden, urging him to swiftly deliver on his promise to deliver student debt cancellation to working and middle class families by early 2024. 
    • On August 22, 2023 Rep. Pressley applauded Governor Maura Healey’s plan to provide student debt relief for health care workers in Massachusetts. 
    • On June 30, 2023, Rep. Pressley responded to the President’s alternative proposal to deliver relief under the Higher Education Act and called for swift and efficient implementation.
    • On June 30, 2023, Rep. Pressley issued a statement slamming the Supreme Court’s decision to block President Biden’s student debt cancellation plan and calling on the President to use other tools available to swiftly cancel student debt.
    • On May 30, 2023, Rep. Pressley filed an amendment to H.R. 3746, legislation to raise the debt ceiling, to protect student loan borrowers and preserve the Biden Administration’s pause on federal student loan payments.
    • On May 24, 2023, Rep. Pressley issued a statement slamming Republicans’ harmful effort to overturn President Biden’s student debt relief, including his debt cancellation plan, the pause on student loan payments, and the expanded Public Service Loan Forgiveness (PSLF) program.
    • On May 24, 2023, Rep. Pressley delivered a powerful speech in support of President Biden’s plan to cancel student debt, which would benefit millions of people across the country.
    • On April 5, 2023, Rep. Pressley and Senator Elizabeth Warren wrote to the CEO of SoFi Technologies and SoFi Lending Corp calling on the company to answer for its lawsuits attempting to end the student loan payment pause and force borrowers back into repayment.
    • On March 7, 2023, Rep. Pressley, along with Sens. Warren, Schumer, Sanders, Padilla and Reps. Clyburn, Omar and Wilson led a letter to the Biden Administration expressing continued support for President Biden’s student debt relief plan.
    • On February 28, 2023, Rep. Pressley rallied with borrowers and advocates outside the Supreme Court to call on the Supreme Court to affirm the legality of President Biden’s student debt cancellation plan.
    • On November 22, 2022, Rep. Pressley issued a statement applauding the extension of the student loan payment pause.
    • On October 25, 2022, Rep. Pressley and Senator Warren toured communities across Massachusetts to celebrate the Biden administration’s student debt cancellation plan and help residents sign up for student loan relief.
    • On October 12, 2022, Rep. Pressley joined parent borrowers and advocates for a discussion on the impacts of student debt cancellation on parents and families.
    • On September 29, 2022, Rep. Pressley, along with Senate Majority Leader Schumer and Reps. Omar, Jones and advocates, held a press conference to call for swift and equitable implementation of President Biden’s student debt cancellation plan.
    • On September 21, 2022, Rep. Pressley delivered a powerful speech on the House floor in which she heralded President Biden’s action to cancel student debt for millions of families in the Massachusetts 7th and across the nation. Watch the full video here.
    • On September 12, 2022, Rep. Pressley and Senator Warren wrote to the nine federal student loan servicers to inquire about how they are providing borrowers with accurate and timely information about student loan cancellation.
    • On August 24, 2022, Congresswoman Pressley issued a statement applauding President Biden’s action to cancel student debt.
    • On August 10, 2022, Congresswoman Pressley and Senator Warren Massachusetts joined Massachusetts union leaders in Dorchester for a roundtable discussion on student debt cancellation.
    • On July 18, 2022, Congresswoman Pressley delivered remarks at the American Federation of Teachers (AFT) national convention and renewed her calls for President Biden to cancel student debt by executive action.
    • On July 8, 2022, Congresswoman Pressley with The Debt Collective hosted a virtual roundtable with student debt holders from all walks of life to highlight the intersectional burden the nearly $2 trillion student debt crisis has had on individuals and families. 
    • On June 22, 2022, Congresswoman Ayanna Pressley, with Senator Elizabeth Warren and Senate Majority Leader Chuck Schumer, joined AFL-CIO and union leaders for a roundtable discussion on the importance of student debt cancellation for American workers.
    • On May 20, 2022, Congresswoman Pressley applauded the Congressional Black Caucus’ (CBC) statement calling on President Biden to cancel student loan debt.
    • On May 4, 2022, Congresswoman Pressley visited Bunker Hill Community College to celebrate the $1 million in federal community project funding she secured and continued her calls for President Biden to cancel student debt.
    • On March 17, 2022, Congresswoman Pressley and Arisha Hatch, vice president and chief of campaigns at Color of Change, published an op-ed in Grio calling on President Biden to use his executive order authority to cancel up to $50,000 in student loan debt per borrower.
    • On December 8, 2021, Congresswoman Ayanna Pressley, Senator Elizabeth Warren, and Senate Majority Leader Chuck Schumer sent a bicameral letter to President Joe Biden releasing new data about the adverse impact of restarting student loan payments and calling on him to act to cancel up to $50,000 of student debt.
    • On December 2, 2021, Congresswoman Pressley delivered remarks on the House floor in which she reiterated her calls for President Biden to cancel $50,000 in federal student loan debt by executive action.
    • On October 8, 2021, Representatives Ayanna Pressley and Ilhan Omar and their House colleagues sent a letter to President Biden and Secretary of Education Miguel Cardona urging him to release the memo to determine the extent of the administration’s authority to broadly cancel student debt through administrative action.
    • On July 29, 2021, Congresswoman Pressley issued a statement reaffirming President Biden’s authority – and the urgency – to cancel student loan debt.
    • On June 23, 2021, Congresswoman Ayanna Pressley, Senator Elizabeth Warren, Senate Majority Leader Chuck Schumer, and Congressman Joe Courtney led their colleagues on a bicameral letter to President Biden calling on him to extend the pause on federal student loan payments.
    • On April 13, 2021, Congresswoman Pressley testified at a Senate Banking, Housing, and Urban Affairs Committee’s Subcommittee on Economic Policy hearing to examine the student loan debt crisis in our country.
    • On April 1, 2021, Congresswoman Pressley, along with Senator Elizabeth Warren and Massachusetts Attorney General Maura Healey, held a press conference calling on President Biden to tackle the student loan debt crisis.
    • On February 4, 2021, Congresswoman Pressley, along with several Democratic House and Senate leaders, led their colleagues in reintroducing a bicameral resolution outlining a bold plan for President Biden to tackle the student loan debt crisis. 
    • On December 17, 2020, Representatives Ayanna Pressley, Ilhan Omar, Maxine Waters, and Alma Adams introduced a resolution outlining a bold plan for President-elect Joe Biden to cancel up to $50,000 in Federal student loan debt for student loan borrowers.
    • On December 10, 2020, Congresswoman Pressley was in Yahoo Finance urging the Biden administration to cancel student debt, stressing the impact on Black borrowers.
    • On May 8, 2020, Representatives Ayanna Pressley, Alma Adams, and Ilhan Omar, led 28 of their colleagues and sent a letter to House Speaker Nancy Pelosi and House Minority Leader Kevin McCarthy calling for the universal, one-time, student debt cancellation of at least $30,000 per borrower in the next round of COVID-19 relief legislation.
    • On March 23, 2020, Representatives Ayanna Pressley and Ilhan Omar introduced the Student Debt Emergency Relief Act, legislation that provides immediate monthly payment relief for federal student loan borrowers.
    • On March 17, 2020, Congresswoman Ayanna Pressley and Senator Elizabeth Warren were on The Hill calling on congressional leadership to include student debt cancellation in the next coronavirus relief package.
    • On October 11, 2019, Congresswoman Pressley introduced legislation – the Ending Debt Collection Harassment Act – to protect consumers from abusive debt collection.
    • On July 17, 2019, Congresswomen Pressley introduced legislation – the Student Borrower Credit Improvement Act – to provide much needed support to private student loan borrowers with a pathway to financial stability by helping them improve their credit.

    ###

    MIL OSI USA News –

  • MIL-OSI: Medallion Bank Announces Launch of Series G Preferred Stock Offering

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, May 14, 2025 (GLOBE NEWSWIRE) — Medallion Bank (Nasdaq: MBKNP), an FDIC-insured bank providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners, announced today that it has launched a public offering of shares of its Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G, par value $1.00 per share, with a liquidation amount of $25 per share (the “Series G Preferred Stock”). Medallion Bank’s Series G Preferred Stock is expected to trade on the Nasdaq Capital Market under the ticker symbol “MBNKO.” Medallion Bank is and will remain a wholly owned subsidiary of Medallion Financial upon completion of the offering.

    Medallion Bank expects to grant the underwriters a 30-day option to purchase additional shares of the Series G Preferred Stock solely to cover over-allotments, if any.

    Medallion Bank intends to use the net proceeds from this offering for general corporate purposes, which may include, among other things, increasing Medallion Bank’s capital levels, growing its consumer loan portfolios or redeeming some or all of its outstanding Series F Non-Cumulative Perpetual Preferred Stock (the “Series F Preferred Stock”), subject to the prior approval of the Federal Deposit Insurance Corporation.

    Piper Sandler & Co. and Lucid Capital Markets, LLC are acting as joint book-running managers. A.G.P./Alliance Global Partners, B. Riley Securities, Inc., InspereX LLC, Ladenburg Thalmann & Co. Inc., Muriel Siebert & Co., LLC, Wedbush Securities Inc., and William Blair & Company, L.L.C. are acting as lead managers.

    The offering of the Medallion Bank’s Series G Preferred Stock is exempt from the registration requirements of the Securities Act of 1933 pursuant to Section 3(a)(2) of that Act and will be made only by means of an offering circular. This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. The securities are neither insured nor approved by the Federal Deposit Insurance Corporation or any other Federal or state regulatory body.

    The preliminary offering circular relating to the offering is available at medallionbankoffering.com. In addition, copies of the preliminary offering circular may also be obtained from: Piper Sandler & Co.; Attn: Debt Capital Markets, 1 Greenwich Plaza, 1st Floor, Suite 111, Greenwich, CT 06830, or by email at fsg-dcm@psc.com.  

    About Medallion Bank

    Medallion Bank specializes in providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners. The Bank works directly with thousands of dealers, contractors and financial service providers serving their customers throughout the United States. Medallion Bank is a Utah-chartered, FDIC-insured industrial bank headquartered in Salt Lake City and is a wholly owned subsidiary of Medallion Financial Corp.

    This press release contains “forward-looking statements”, which reflect Medallion Bank’s current views with respect to future events and which address matters that are, by their nature, inherently uncertain and beyond Medallion Bank’s control. These statements are often, but not always, made through the use of words or phrases such as “expect” and “intend” or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These statements relate to the offering of shares of the Series G Preferred Stock, the anticipated use of the net proceeds by Medallion Bank and the grant to the underwriters of an option to purchase additional shares of the Series G Preferred Stock. No assurance can be given that the transaction discussed above will be completed on the terms described, or at all, or that Medallion Bank will decide to redeem its Series F Preferred Stock or, if it does, the amount to be redeemed and the timing of redemption and required regulatory approval. Completion of the offering on the terms described, including the grant of the option to the underwriters, and the application of net proceeds, are subject to numerous conditions, many of which are beyond the control of Medallion Bank. Medallion Bank undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. For a description of certain risks to which Medallion Bank is or may be subject, please refer to the factors discussed under the headings “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors,” in Medallion Bank’s Annual Report on Form 10-K for the year ended December 31, 2024 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2025.

    This press release does not constitute a notice of redemption with respect to the Series F Preferred Stock. If Medallion Bank decides to redeem the Series F Preferred Stock, it intends to announce its decision by press release and an appropriate notice of redemption during the applicable notice window.

    Company Contact:
    Investor Relations
    212-328-2176
    InvestorRelations@medallion.com

    The MIL Network –

  • MIL-OSI: Logansport Financial Corp. Announces Second Quarter Dividend

    Source: GlobeNewswire (MIL-OSI)

    LOGANSPORT, Ind., May 14, 2025 (GLOBE NEWSWIRE) — Logansport Financial Corp. (OTCBB – Symbol “LOGN”), an Indiana corporation which is the holding company for Logansport Savings Bank, a State Commercial bank located in Logansport, Indiana, announces that Logansport Financial Corp. has declared a quarterly cash dividend of $.45 on each share of its common stock for the second quarter of 2025. The dividend is payable on July 14, 2025 to the holders of record on June 13, 2025.

    Contact: Kristie Richey
    Chief Financial Officer
    Phone 574-722-3855
    Fax 574-722-3857

    The MIL Network –

  • MIL-OSI Security: Texas Company Charged with Aiding and Abetting Fraudulent Transactions Related to False Ethanol Sales

    Source: Office of United States Attorneys

    NEW ORLEANS, LOUISIANA –Today, Acting United States Attorney Michael M. Simpson announced the filing of a bill of information charging Plano, Texas-based MUREX MANAGEMENT, INC. (“MMI”), with aiding and abetting transactions that defrauded financial institutions, including the failed New Orleans-based First NBC Bank.

    According to the bill of information, MMI was the management company of an affiliate that engaged in ethanol marketing and logistics services. Additionally, Company A was the U.S.-based subsidiary of a foreign, publicly traded, company that operated ethanol production plants.

    According to the bill of information, beginning in 2013, Company A and its parent companies began to experience financial stress. In order to ameliorate cash flow issues and to manufacture additional financing for its debts, Company A initiated a strategy called “buy/sells” and targeted MMI to assist in this strategy. Company A’s plan called for both companies to create fictitious invoices purporting to be sales of ethanol between the two companies, which could then be sold as accounts receivable to unwitting buyers via a New Orleans-based online marketplace. This would provide cash flow for Company A and a profit to MMI. The unwitting buyers of these accounts receivable included financial institutions like First NBC Bank.

    The bill of information alleges that, between October 28, 2013 and September 18, 2015, Company A and MMI conducted approximately $1.2 billion in fraudulent “buy/sell” transactions, with MMI making a profit of approximately $6,073,049. Company A eventually defaulted on paying financial institutions for the accounts receivable that had been posted for auction by MMI. The defaulted auctions caused a loss of approximately $73,073,683.05 to First NBC Bank, and a loss of approximately $8,330,427.02 to a North Carolina bank.

    If convicted, MMI faces a maximum fine of $1,000,000.00, or twice the gross gain or twice the gross loss to any victim. It also will be required to pay restitution and a mandatory special assessment fee of $400.00.

    Acting U.S. Attorney Simpson reiterated that the bill of information is merely a charge and that the guilt of the defendant must be proven beyond a reasonable doubt.

    Acting U.S. Attorney Simpson praised the work of the FDIC Office of Inspector General, Dallas Field Office, and the Environmental Protection Agency, Criminal Investigation Division, Houston Resident Office, that investigated this matter. Assistant United States Attorneys Matthew R. Payne of the Financial Crimes Unit and Nicholas D. Moses, Health Care Fraud Coordinator, handled this prosecution.

    MIL Security OSI –

  • MIL-OSI USA: Welch Honors Vermont Law Enforcement During National Police Week

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    WASHINGTON, D.C. — U.S. Senator Peter Welch (D-Vt.), a member of the Senate Judiciary Committee, joined Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa), Ranking Member Dick Durbin (D-Ill.) and 78 bipartisan senators this week in welcoming the Senate’s unanimous passage of their resolution designating May 12 through 17 as National Police Week. During National Police Week, Americans pay special tribute to the service and sacrifice of courageous officers and their families, especially our nation’s fallen heroes. 
    Every year, for more than six decades, Congress has passed a resolution in honor of law enforcement officers. The National Police Week resolution reiterates the Senate’s unwavering support for law enforcement officers across the United States.   
    “National Police Week is a time to reflect on the service of the men and women in Vermont—and across the country—who put their lives on the line to protect our communities. We are thankful everyday for Vermont’s law enforcement. We also honor the memory of those who made the ultimate sacrifice in the line of duty,” said Senator Welch. “I’m proud to join my colleagues in passing this bipartisan resolution, which renews our commitment to providing law enforcement officers and personnel with the resources needed to uphold their oath to serve our communities with valor and respect.” 
    “Law enforcement officers in Iowa and across the nation work tirelessly to protect and serve our communities. This week, and every week, we should give our thanks to the brave men and women in blue, who have sacrificed so much to ensure our safety,” said Senator Grassley. “As always, I’m proud to back the blue and will continue my efforts in Congress to protect and support our courageous officers.”  
    “Every day, our country’s law enforcement officers put their lives at risk to keep us safe. Officers and their families make great sacrifices in the name of service, including the tragic cases of those who have lost their lives in the line of duty. We’re grateful for their heroism, and we must make sure that officers serving with dignity and integrity have the support and resources they need to do their jobs,” said Senator Durbin. 
    Senators Welch, Grassley and Durbin are joined by Sens. Lindsey Graham (R-S.C.), Angus King (I-Maine), Ashley Moody (R-Fla.), Catherine Cortez Masto (D-Nev.), Susan Collins (R-Maine), Ben Ray Lujan (D-N.M.), Tim Sheehy (R-Mont.), Richard Blumenthal (D-Conn.), John Kennedy (R-La.), Christopher Coons (D-Del.), Tim Scott (R-S.C.), Ruben Gallego (D-Ariz.), Jim Risch (R-Idaho), Mitch McConnell (R-Ky.), Tim Kaine (D-Va.), Tommy Tuberville (R-Ala.), Amy Klobuchar (D-Minn.), Rand Paul (R-Ky.), Raphael Warnock (D-Ga.), Mike Crapo (R-Idaho), Brian Schatz (D-Hawaii), Cynthia Lummis (R-Wyo.), Alex Padilla (D-Calif.), Jim Justice (R-W.Va.), John Fetterman (D-Pa.), Katie Britt (R-Ala.), Jacky Rosen (D-Nev.), Jerry Moran (R-Kan.), Sheldon Whitehouse (D-R.I.), John Barrasso (R-Wyo.), Jeanne Shaheen (D-N.H.), Shelley Moore Capito (R-W.Va.), Kirsten Gillibrand (D-N.Y.), Rick Scott (R-Fla.), Jon Ossoff (D-Ga.), Pete Ricketts (R-Neb.), Tammy Duckworth (D-Ill.), Jim Banks (R-Ind.), Mark Kelly (D-Ariz.), Kevin Cramer (R-N.D.), Andy Kim (D-N.J.), Joni Ernst (R-Iowa), Tammy Baldwin (D-Wis.), Ted Budd (R-N.C.), Gary Peters (D-Mich.), Thomas Tillis (R-N.C.), Maria Cantwell (D-Wash.), Cindy Hyde-Smith (R-Miss.), Mark Warner (D-Va.), Roger Marshall (R-Kan.), Elissa Slotkin (D-Mich.), Steve Daines (R-Mont.), Margaret Hassan (D-N.H.), Marsha Blackburn (R-Tenn.), Adam Schiff (D-Calif.), Deb Fischer (R-Neb.), Michael Bennet (D-Colo.), Lisa Murkowski (R-Alaska), Bill Hagerty (R-Tenn.), John Hoeven (R-N.D.), John Cornyn (R-Texas), Mike Lee (R-Utah), Mike Rounds (R-S.D.), John Thune (R-S.D.), Bernie Moreno (R-Ohio), Ted Cruz (R-Texas), Tom Cotton (R-Ark.), Jon Husted (R-Ohio), James Lankford (R-Okla.), Roger Wicker (R-Miss.), Eric Schmitt (R-Mo.), Markwayne Mullin (R-Okla.), Todd Young (R-Ind.), Josh Hawley (R-Mo.), Dan Sullivan (R-Alaska), Dave McCormick (R-Pa.), Cory Booker (D-N.J.), Bill Cassidy (R-La.) and John Boozman (R-Ark.).   
    Read and download the full text of the resolution. 

    MIL OSI USA News –

  • MIL-OSI Africa: 2025 Civil Society Forum: African Development Bank and Civil Society Reaffirm Alliance for Africa’s Transformation

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

    ABIDJAN, Ivory Coast, May 14, 2025/APO Group/ —

    The African Development Bank www.AfDB.org has reaffirmed its unwavering commitment to collaborating with African civil society to advance the continent’s development agenda. This was a key message of the 2025 Civil Society Organizations (CSO) Forum, which was successfully held on Thursday, May 8, 2025, in Abidjan.

    The forum, organized under the theme: “Celebrating the Contribution of Civil Society to Africa’s Development,” brought together over 150 participants at the Bank’s headquarters, with thousands more connected online across Africa and the diaspora.

    A Novel Action Plan to Deepen Engagement

    This edition of the CSO Forum marked a pivotal step in reinforcing a solid, transformative, and trust-based partnership between the African Development Bank and civil society organizations. This enduring alliance is essential for collectively serving African populations and achieving impactful development across the continent.

    The forum provided an opportunity for the Bank to present its Civil Society Engagement Action Plan (2024–2028), reaffirming its commitment to an inclusive and participatory development process.

    Zeneb Touré, Manager of the Civil Society and Community Engagement Division, presented the strategic framework to Beth Dunford, the African Development Bank Group’s Vice-President for Agriculture, Human, and Social Development, who accepted it on behalf of the institution’s President, Akinwumi Adesina.

    Demonstrating the Bank’s commitment to a diverse and inclusive partnership, Dunford shared the Action Plan with representatives of key civil society components: the Bank-Civil Society Committee, the Climate and Energy Coalition, and a continental network of women entrepreneurs’ associations.

    Augustine Njamnshi, a prominent voice in the civil society climate and energy movement, welcomed its adoption: “The approval of this Action Plan marks a historic turning point in our collaboration with the African Development Bank Group. Born from a shared vision, this document becomes our collective legacy. We express our sincere gratitude to the Bank for this profound act of trust.”

    Highlighting the essential role of civil society as an integral part of Africa’s progress, Kolyang Palebele, representative of the Platform of Farmers’ Organizations of Africa, expressed the spirit of collaboration, praising “the Bank’s unique power to unite the continent’s driving forces around a common vision of improving the lives of African people.” “Civil society is not on the margins of development dynamics; it is the very essence, its living memory and its engine for change,” Mr. Palebele stated.

    “Over the years, civil society engagement has become a cornerstone of the African Development Bank’s work. What was once an aspiration has become evolved into a structured, institutionalized, and results-oriented collaboration partnership.” Ms. Dunford emphasized.

    Empowering Communities Through Decentralized Engagement

    During the forum, an important session highlighted the progress made in decentralizing the Bank’s engagement with civil society. Successful experiences from the five regions of Africa were presented. This localized approach was strongly commended by the Vice-President for Regional Development, Integration and Service Delivery, Nnenna Nwabufo, who appreciated a transformative cross-border initiative between the Central African Republic and the Democratic Republic of Congo. The project has provided over 2.4 million people with access to clean water, sanitation, and hygiene, while strengthening community resilience and fostering cooperation.

    Fostering Mutual Accountability Through Open Dialogue

    The forum culminated in an unprecedented and frank dialogue between senior representatives from seven strategic departments of the Bank and leaders of civil society organizations. Discussions focused on crucial areas such as access to information, environmental and social safeguards, climate action, agriculture, gender equality, youth empowerment, and grievance mechanisms. This essential interaction highlighted a shared commitment to transparency, responsiveness, and mutual accountability in the pursuit of sustainable development outcomes.

    MIL OSI Africa –

  • MIL-OSI USA: Boozman Honors Arkansas Law Enforcement Amid National Police Week

    US Senate News:

    Source: United States Senator for Arkansas – John Boozman
    WASHINGTON––The U.S. Senate passed a bipartisan resolution backed by Senators John Boozman (R-AR), Chuck Grassley (R-IA), Dick Durbin (D-IL) and 78 of their colleagues designating May 11-17 as National Police Week. The National Police Week resolution reiterates the Senate’s unwavering support for law enforcement officers across the United States.
    “Arkansans are eternally grateful to the men and women in blue who willingly put their lives on the line to protect us and our loved ones. We must always display our deep admiration and appreciation to these heroes who run towards danger to keep us safe and uphold law and order. I am proud to stand with my colleagues and show our support for law enforcement officers across our country,” Boozman said.
    “Law enforcement officers in Iowa and across the nation work tirelessly to protect and serve our communities. This week, and every week, we should give our thanks to the brave men and women in blue, who have sacrificed so much to ensure our safety. As always, I’m proud to back the blue and will continue my efforts in Congress to protect and support our courageous officers,” Grassley said. 
    “Every day, our country’s law enforcement officers put their lives at risk to keep us safe. Officers and their families make great sacrifices in the name of service, including the tragic cases of those who have lost their lives in the line of duty. We’re grateful for their heroism, and we must make sure that officers serving with dignity and integrity have the support and resources they need to do their jobs,” Durbin said.
    Majority Leader John Thune (R-SD) and Sens. Lindsey Graham (R-SC), Angus King (I-ME), Ashley Moody (R-FL), Catherine Cortez Masto (D-NV), Susan Collins (R-ME), Ben Ray Luján (D-NM), Tim Sheehy (R-MT), Richard Blumenthal (D-CT), John Kennedy (R-LA), Chris Coons (D-DE), Tim Scott (R-SC), Ruben Gallego (D-AZ), Jim Risch (R-ID), Peter Welch (D-VT), Mitch McConnell (R-KY), Tim Kaine (D-VA), Tommy Tuberville (R-AL), Amy Klobuchar (D-MN), Rand Paul (R-KY), Raphael Warnock (D-GA), Mike Crapo (R-ID), Brian Schatz (D-HI), Cynthia Lummis (R-WY), Alex Padilla (D-CA), Jim Justice (R-WV), John Fetterman (D-PA), Katie Britt (R-AL), Jacky Rosen (D-NV), Jerry Moran (R-KS), Sheldon Whitehouse (D-RI), John Barrasso (R-WY), Jeanne Shaheen (D-NH), Shelley Moore Capito (R-WV), Kirsten Gillibrand (D-NY), Rick Scott (R-FL), Jon Ossoff (D-GA), Pete Ricketts (R-NE), Tammy Duckworth (D-IL), Jim Banks (R-IN), Mark Kelly (D-AZ), Kevin Cramer (R-ND), Andy Kim (D-NJ), Joni Ernst (R-IA), Tammy Baldwin (D-WI), Ted Budd (R-NC), Gary Peters (D-MI), Thom Tillis (R-NC), Maria Cantwell (D-WA), Cindy Hyde-Smith (R-MS), Mark Warner (D-VA), Roger Marshall, M.D. (R-KS), Elissa Slotkin (D-MI), Steve Daines (R-MT), Maggie Hassan (D-NH), Marsha Blackburn (R-TN), Adam Schiff (D-CA), Deb Fischer (R-NE), Michael Bennet (D-CO), Lisa Murkowski (R-AK), Bill Hagerty (R-TN), John Hoeven (R-ND), John Cornyn (R-TX), Mike Lee (R-UT), Mike Rounds (R-SD), Bernie Moreno (R-OH), Ted Cruz (R-TX), Tom Cotton (R-AR), Jon Husted (R-OH), James Lankford (R-OK), Roger Wicker (R-MS), Eric Schmitt (R-MO), Markwayne Mullin (R-OK), Todd Young (R-IN), Josh Hawley (R-MO), Dan Sullivan (R-AK), Dave McCormick (R-PA), Cory Booker (D-NJ) and Bill Cassidy, M.D. (R-LA) joined Boozman, Grassley and Durbin as cosponsors of the resolution.
    The resolution names the 234 law enforcement officers killed in the line of duty during 2024, including Stone County Sheriff’s Deputy Justin Smith. Boozman and Cotton paid tribute to the fallen lawman on the Senate floor in January 2024.
    Earlier this year, Boozman joined nearly a dozen colleagues in introducing the Thin Blue Line Act to increase penalties for criminals who target law enforcement. The measure is supported by multiple law enforcement groups including the Federal Law Enforcement Officers Association, National Sheriffs’ Association and Fraternal Order of Police.
    Read the full resolution here.

    MIL OSI USA News –

  • MIL-OSI USA: ICYMI: Senator Reverend Warnock Delivers Commencement Address to Paine College’s Class of 2025 in Augusta

    US Senate News:

    Source: United States Senator Reverend Raphael Warnock – Georgia

    ICYMI: Senator Reverend Warnock Delivers Commencement Address to Paine College’s Class of 2025 in Augusta

    On Sunday, Senator Reverend Warnock delivered the keynote commencement speech to Paine College’s Class of 2025 in Augusta, Georgia
    Senator Warnock encouraged the Class of 2025 to make their life’s project longer and larger than their lifespan, give themselves over to a mission that is larger than themselves
    Paine College is one of ten Historically Black Colleges & Universities (HBCUs) in Georgia; Senator Reverend Warnock is a 1991 graduate of Morehouse College and is the only sitting U.S. Senators to graduate from an HBCU
    Senator Warnock has secured $664 million for Georgia’s HBCUs to date, part of $17 billion in federal investments championed by the Senator since 2021

    Above: Senator Warnock addresses the Class of 2025 at Paine College in Augusta, Georgia
    Photo credit: Rob Davis, Augusta Chronicle
    Augusta, Georgia – On Sunday, U.S. Senator Reverend Raphael Warnock (D-GA) delivered the commencement address for the Class of 2025 at Paine College in Augusta, Georgia. Paine College is one of ten Historically Black Colleges & Universities (HBCUs) across Georgia. The Senator commended Paine College for its rich history, academic excellence, and commitment to fostering Black leadership across industries. 
    During the college’s 143rd commencement ceremony, Senator Warnock, an alum of Atlanta’s Morehouse College and the only sitting U.S. Senator to graduate from an HBCU, urged the graduates to make their life’s project longer and larger than their lifespan and give themselves over to a mission that is larger than themselves. In a moment in which there are those in power trying to silence the voices of young people, Senator Warnock charged the graduates to not allow them to silence their voices or squash the activist spirit that fuels peaceful protest in pursuit of social change. 
    In recognition of his lifelong commitment to service, moral leadership, and the pursuit of social justice, Paine College awarded Senator Warnock the honorary degree of Doctor of Humane Letters during the ceremony, as well as a plaque of appreciation for delivering the keynote address.

    Above: Senator Warnock and Paine College President Dr. Lester McCorn
    Photo credit: Rob Davis, Augusta Chronicle
    Additionally, the Senator highlighted the important role of HBCUs in helping shape the next generation of changemakers, as well as his work to successfully secure $664 million in federal funding for Georgia’s HBCUs, part of $17 billion in investments the federal government has delivered to HBCU campuses throughout the nation since the Senator came to the Senate. 
    Over the weekend, Senator Warnock also addressed the Class of 2025 at Virginia Union University, an HBCU in Richmond, Virginia. 
    Watch video of Senator Reverend Warnock’s address to Paine College’s Class of 2025 HERE.
    Key excerpts from media coverage of Senator Warnock’s commencement address can be found below:
    FOX 54: Sen. Warnock joins Paine College’s 2025 graduation ceremony
    The campus of Paine College was filled with cheers and tears Sunday as graduates turned over their tassels. […] The commencement had prominent speakers, from alumni Michael Thurmond to Senator Raphael Warnock.
    The senator was the lead commencement speaker, and emphasized the need for more funding in college education, specifically HBCUs.
    “Let’s face it, these kids are coming out of school at a difficult time in our nation, we’ve got to invest in higher education, invest in Technical and Community Schools. I’m an HBCU graduate, and what you get in these schools is a commitment to bringing head and heart to the work of community service, social change,” said Senator Warnock.
    The Augusta Press: Sen. Raphael Warnock speaks at Paine College convocation ceremony 
    Paine College’s HEAL Complex welcomed hundreds of visitors, Sunday morning, mostly the families of students, as it celebrated its 143rd Commencement Convocation.
    Sen. Warnock, a close friend of McCorn’s and a fellow Morehouse alumnus, would have normally been speaking from the pulpit in Atlanta’s Ebenezer Baptist Church on Sunday. His exhortations to graduating students during his address were delivered with comparable enthusiasm.
    “As an HBCU (historically Black college/university) graduate, I know the unique history of places like Paine College. I know what you represent, I know the sacrifice that it took to get you here,” Warnock said.
    The senator referred to his own personal history in encouraging grads to persevere amid what he called “a difficult time in our nation.”
    “I wanted to recognize that it is difficult. Many of them had to work really hard, had to push against financial and other restraints just to get this far,” he said, alluding to his own work in Washington, including his membership in the Senate’s Committee on Banking, Housing and Urban Affairs. “But I hope that my own story might be an example, a model, of how you keep pushing even when you don’t have the answers, and when you’re working and doing the work very often, help comes in unexpected places, and I’m trying to do that work every single day in the United States Senate.”
    WRDW: Sen. Warnock gives keynote speech at Paine College graduation
    Despite the rainy day, Paine College still celebrated its graduates Sunday. Hundreds of students walked across the stage today to celebrate their academic achievements, and on Mother’s Day, nonetheless. Senator Raphael Warnock was the keynote speaker at commencement.
    “America is great because of its diversity, and here’s what I’m going to do. I’m going to fight for that kid who was me growing up in public housing down in Savannah, GA. But I’m also going to fight for the poor, white rural kid who’s growing up in communities that have been too long forgotten about and overlooked,” said Warnock. 
    He also talked about what he has done to help schools like Paine College thrive.
    Interested media can view photos of Paine College’s commencement ceremony in the Augusta Chronicle HERE.

    MIL OSI USA News –

  • MIL-OSI Europe: Written question – Strengthening support for renewable hydrogen to meet EU energy and climate targets – E-001831/2025

    Source: European Parliament

    Question for written answer  E-001831/2025
    to the Commission
    Rule 144
    Dan-Ştefan Motreanu (PPE)

    The Commission has announced that the second auction of the European Hydrogen Bank attracted 61 project applications from 11 European Economic Area countries, requesting over EUR 4.8 billion in subsidies – four times the EUR 1.2 billion currently available under the EU’s Innovation Fund. The proposed projects represent an electrolyser capacity of 6.3 gigawatts and aim to produce 7.3 million tonnes of renewable hydrogen over ten years, corresponding to 7 % of the EU’s REPowerEU target for 2030.

    This strong interest highlights the growing momentum in the clean hydrogen sector and the urgent need for increased funding to bridge the gap between production costs and market prices. Contributions from Spain, Lithuania and Austria under the ‘auctions-as-a-service’ model further demonstrate the potential for complementary national support.

    However, with demand for subsidies significantly exceeding the available budget, there is a risk that many viable projects essential for achieving the EU’s decarbonisation and energy security goals will not be supported.

    In this context, what additional measures does the Commission intend to propose to strengthen financial support for renewable hydrogen, scale up production capacities and ensure the achievement of the EU’s 2030 clean energy targets?

    Submitted: 6.5.2025

    Last updated: 14 May 2025

    MIL OSI Europe News –

  • MIL-OSI Banking: Apple brings insights, ratings, and reviews from expert sources to Apple Maps

    Source: Apple

    Headline: Apple brings insights, ratings, and reviews from expert sources to Apple Maps

    UPDATE May 14, 2025

    Users can now view and search for restaurants and hotels in the U.S. with distinctions from MICHELIN Guide; The Infatuation and Golf Digest coming soon

    Starting today, Apple Maps makes it even easier for users to search and discover top-ranked restaurants, hotels, golf courses, and more, with the addition of rankings and insights from expert sources. Users can now view and search for MICHELIN-starred, Green Star, and Bib Gourmand restaurants — along with MICHELIN Key hotels — starting in the U.S., with support for additional regions coming in the future. Soon, rankings and insights from The Infatuation and Golf Digest will also be added to Maps, with more expert sources to follow.

    With this update, place cards will now reflect distinctions, descriptions, and images from expert sources. Additionally, for select hotels, users can now book directly from Maps, with the option to schedule restaurant reservations through MICHELIN and tee times through Supreme Golf coming soon.

    “MICHELIN Guide, The Infatuation, and Golf Digest are leading industry experts that consumers rely on for finding the best restaurants, hotels, and golf courses, and we’re excited to bring their valuable insights and accolades to our users in Apple Maps,” said David Dorn, Apple’s senior director of Internet Software and Services Product. “These new integrations make Maps an even more useful and seamless resource for users to discover great new places whether in their hometown or traveling somewhere new.”

    “We are pleased to bring MICHELIN Guide’s expertise to Apple Maps. The integration of MICHELIN Guide’s ratings, expert insights, and booking services into Apple Maps will significantly enhance global access to exceptional gastronomy and hospitality experiences,” said Gwendal Poullennec, MICHELIN Guide’s international director. “By bringing MICHELIN Guide’s restaurant and hotel distinctions into the Apple Maps app, we are providing travelers and food enthusiasts with easy and convenient access to MICHELIN’s curated recommendations and insights for their next memorable experience.”

    “Apple and The Infatuation share a commitment to high-quality content — and we are thrilled to soon bring our authentic, relatable, and curated restaurant recommendations to Apple Maps,” said Paul Needham, CEO of The Infatuation. “It’s important for us to meet users where they are, and we know Apple Maps is a key part of their daily lives, making this integration a natural fit.”

    “As the leading authority in golf course rankings and reviews, Golf Digest is proud to bring our trusted insights to Apple Maps,” said Meredith Bausback, Golf Digest’s vice president of Marketing & Audience Development. “This integration will soon empower golfers to discover and choose courses with the confidence that comes from decades of expert evaluation.”

    To use this feature, users can leverage search filters in Maps and find places with these distinctions. To explore more great places around the world, users can also view curated guides from MICHELIN Guide, The Infatuation, and Golf Digest.

    MIL OSI Global Banks –

  • MIL-OSI: Fiera Capital Corporation announces increase to previously announced bought deal offering of 7.75% Senior Subordinated Unsecured Debentures to $70 million

    Source: GlobeNewswire (MIL-OSI)

    MONTREAL, May 14, 2025 (GLOBE NEWSWIRE) — Fiera Capital Corporation (“Fiera Capital” or the “Company”) (TSX: FSZ) is pleased to announce that, due to strong demand, it has entered into a revised agreement with Scotiabank, CIBC Capital Markets, Desjardins Capital Markets and RBC Capital Markets, as joint bookrunners, on behalf of a syndicate of underwriters which also included National Bank Financial Inc., BMO Capital Markets, TD Securities Inc., Canaccord Genuity Corp., iA Private Wealth Inc. and Raymond James Ltd. (collectively, the “Underwriters”), to increase the size of its previously announced bought deal offering of senior subordinated unsecured debentures due June 30, 2030  (the “Debentures”) at a price of $1,000 per Debenture (the “Offering”) to $70 million. Fiera Capital has also granted the Underwriters an option to purchase up to an additional $10.5 million aggregate principal amount of Debentures, on the same terms and conditions, exercisable in whole or in part, for a period of 30 days following closing of the Offering. The Offering is expected to close on or about June 3, 2025.

    The Debentures will bear interest at a rate of 7.75% per annum, payable semi-annually in arrears on June 30 and December 31 of each year, with the first interest payment on December 31, 2025. The December 31, 2025 interest payment will represent accrued interest from the closing of the Offering, to but excluding December 31, 2025. The Debentures will mature on June 30, 2030 (the “Maturity Date”).

    The Debentures will not be redeemable prior to June 30, 2028 (the “First Call Date”), except upon the occurrence of a change of control of the Company in accordance with the terms of the indenture (the “Indenture”) governing the Debentures. On and after the First Call Date and prior to June 30, 2029, the Debentures will be redeemable in whole or in part from time to time at the Company’s option at a redemption price equal to 103.875% of the principal amount of the Debentures redeemed plus accrued and unpaid interest, if any, up to but excluding the date set for redemption. On and after June 30, 2029 and prior to the Maturity Date, the Debentures will be redeemable, in whole or in part, from time to time at the Company’s option at par plus accrued and unpaid interest, if any, up to but excluding the date set for redemption. The Company shall provide not more than 60 nor less than 30 days’ prior notice of redemption of the Debentures.

    The Company will have the option to satisfy its obligation to repay the principal amount of the Debentures due at redemption or maturity by issuing and delivering that number of freely tradeable Class A subordinate voting shares (the “Class A Shares”) in accordance with the terms of the Indenture.

    The Debentures will not be convertible into Class A Shares at the option of the holders at any time.

    The net proceeds of the Offering will be used to fund the redemption of the Company’s 8.25% Senior Subordinated Unsecured Debentures due December 31, 2026 (the “2026 Debentures”) that the Company intends to effect on the first call-date, December 31, 2025, and for general corporate purposes. Pending such use, the net proceeds from the Offering will temporarily be used by the Company to reduce indebtedness under the Company’s unsecured revolving credit facility. The foregoing is not a redemption notice with respect to the 2026 Debentures. Any redemption of the 2026 Debentures will be made pursuant to a notice of redemption under the indenture governing those securities.

    The Debentures will be direct, senior subordinated unsecured obligations of the Company which will rank pari passu with one another and will rank (a) effectively subordinate to any existing and future secured indebtedness of the Company but only (other than with respect to the Senior Credit Facilities (as defined in the Indenture)) to the extent of the value of the assets securing such secured indebtedness, (b) subordinate to the obligations under the current and future Senior Credit Facilities (as defined in the Indenture), (c) pari passu with the Company’s existing 2026 Debentures and 6.00% Senior Subordinated Unsecured Debentures due June 30, 2027 and, except as prescribed by law, all existing and future unsecured indebtedness (other than the Senior Credit Facilities) that by its terms is not subordinated in right of payment to the Debentures, including indebtedness to trade creditors, and (d) senior to all existing and future unsecured indebtedness that by its terms is subordinated in right of payment to the Debentures, including any convertible unsecured subordinated debentures which may be issued by the Company in the future. In addition, the Debentures will be structurally subordinated to all existing and future indebtedness and other liabilities of the Company’s subsidiaries.

    A preliminary short form prospectus will be filed with securities regulatory authorities in all provinces of Canada. The Offering is subject to customary regulatory approvals, including the approval of the Toronto Stock Exchange.

    The securities to be offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

    Legal advisors

    Legal advice is being provided to Fiera Capital by Fasken Martineau DuMoulin LLP. Legal advice is being provided to the Underwriters by Norton Rose Fulbright Canada LLP.

    Forward-Looking Statements

    This document may contain certain forward-looking statements relating to future events or, future performance reflecting management’s expectations or beliefs regarding future events, including, without limitation, business and economic conditions, outlook and trends, Fiera Capital’s growth, results of operations, performance, business prospects and opportunities, objectives, plans and strategic priorities, new initiatives, such as those related to sustainability and other statements that do not refer to historical facts. In particular, this press release includes forward-looking statements relating to the proposed timing of completion of the Offering and the anticipated use of the net proceeds of the Offering. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management. These forward-looking statements may typically be identified by words and expressions such as “assumption, “continue”, “estimate”, “forecast”, “goal”, “guidance”, “likely”, “plan”, “objective”, “outlook”, “potential”, “foresee”, “project”, “strategy”, “target”, and other similar words or expressions or future or conditional verbs (including in their negative form), such as “aim”, “anticipate”, “believe”, “could”, “expect”, “foresee”, “intend”, “may”, “plan”, “predict”, “seek”, “should”, “strive” and “would”.

    Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, which make it possible for actual results or events to differ materially from management’s expectations and that predictions, forecasts, projections, expectations, conclusions or statements will not prove to be accurate. As a result, Fiera Capital does not guarantee that any forward-looking statement will materialize and readers are cautioned not to place undue reliance on these forward-looking statements. These risks include, but are not limited to, the failure or delay in satisfying any of the conditions to the completion of the Offering. Additional factors include, but are not limited to, market and general economic conditions, the nature of the financial services industry, and the risks and uncertainties detailed from time to time in Fiera Capital’s interim condensed and annual consolidated financial statements, and its latest Annual Report and Annual Information Form filed on www.sedarplus.ca. These forward-looking statements are made as of the date of this document, and Fiera Capital assumes no obligation to update or revise them to reflect new events or circumstances.

    About Fiera Capital Corporation

    Fiera Capital is a leading independent asset management firm with a growing global presence. The Company delivers customized and multi-asset solutions across public and private market asset classes to institutional, financial intermediary and private wealth clients across North America, Europe and key markets in Asia and the Middle East. Fiera Capital’s depth of expertise, diversified investment platform and commitment to delivering outstanding service are core to our mission of being at the forefront of investment management science to create sustainable wealth for clients. Fiera Capital trades under the ticker FSZ on the Toronto Stock Exchange.

    Headquartered in Montreal, Fiera Capital, with its affiliates in various jurisdictions, has offices in over a dozen cities around the world, including New York (U.S.), London (UK), Hong Kong (SAR) and Abu Dhabi (ADGM).

    Each affiliated entity (each an “Affiliate”) of Fiera Capital only provides investment advisory or investment management services or offers investment funds in the jurisdictions where the Affiliate is authorized to provide services pursuant to the relevant registrations, an exemption from such registrations and/or the relevant product is registered or exempt from registration.

    Fiera Capital does not provide investment advice to U.S. clients or offer investment advisory services in the U.S. In the U.S., asset management services are provided by Fiera Capital’s Affiliates who are investment advisers that are registered with the U.S. Securities and Exchange Commission (SEC) or exempt from registration. Registration with the SEC does not imply a certain level of skill or training. For details on the particular registration of, or exemptions therefrom relied upon by, any Fiera Capital entity, please consult https://www.fieracapital.com/en/registrations-and-exemptions

    Additional information about Fiera Capital, including its Annual Information Form, is available on SEDAR+ at www.sedarplus.ca

    SOURCE Fiera Capital Corporation

    The information contained in press releases and company news is valid as of the date indicated. You should not assume that statements remain accurate or valid after the date.

    For more information: Analysts and investors, Marie-France Guay, Senior Vice President, Treasury and Investor Relations, Fiera Capital Corporation, 514 294-5878, mguay@fieracapital.com

    The MIL Network –

  • MIL-OSI USA: Senate passes Kennedy-backed National Police Week resolution

    US Senate News:

    Source: United States Senator John Kennedy (Louisiana)
    WASHINGTON – Sen. John Kennedy (R-La.), a member of the Senate Judiciary Committee, joined Sens. Chuck Grassley (R-Iowa), Dick Durbin (D-Illinois) and 78 bipartisan senators in introducing a resolution to designate the week of May 11 through May 17, 2025, as National Police Week. The Senate unanimously adopted the resolution.
    “One of the toughest jobs in the world is being a police officer, especially when so many officers don’t get the recognition they deserve. I can’t thank Louisiana’s law enforcement community enough for the good work they do to keep our communities strong, safe and free, and I am proud of the Senate for honoring our heroes,” said Kennedy. 
    “Law enforcement officers in Iowa and across the nation work tirelessly to protect and serve our communities. This week, and every week, we should give our thanks to the brave men and women in blue, who have sacrificed so much to ensure our safety. As always, I’m proud to back the blue and will continue my efforts in Congress to protect and support our courageous officers,” said Grassley.
    “Every day, our country’s law enforcement officers put their lives at risk to keep us safe. Officers and their families make great sacrifices in the name of service, including the tragic cases of those who have lost their lives in the line of duty. We’re grateful for their heroism, and we must make sure that officers serving with dignity and integrity have the support and resources they need to do their jobs,” said Durbin.
    The resolution:
    Designates the week of May 11 through May 17, 2025, as “National Police Week.”
    Honors the 234 law enforcement officers killed in the line of duty in 2024 and the 18 officers reportedly killed in the line of duty so far in 2025.
    Expresses unwavering support for law enforcement officers across the U.S. in the pursuit of preserving safe and secure communities.
    Recognizes the need to ensure that law enforcement officers have the equipment, training and resources they need to protect the health and safety of the officers while they protect the public. 
    Encourages the American people to observe National Police Week by honoring law enforcement personnel and promoting awareness of the essential mission they undertake in service to their communities and the U.S.
    Background: 
    In Aug. 2023, the Senate passed the Kennedy-backed Recruit and Retain Act to address the nation-wide shortage of law enforcement officers, increase recruitment and address workforce challenges.
    In Feb. 2024, Kennedy helped introduce the Violent Incident Clearance and Technological Investigative Methods (VICTIM) Act to establish a grant program at the Department of Justice to help state, tribal and local law enforcement agencies solve more crimes and improve clearance rates for homicides and firearm related violent crimes.
    In Jan. 2025, Kennedy joined Sen. Ted Cruz (R-Texas) and colleagues in introducing the Thin Blue Line Act to make the targeting, killing or attempted killing of a law enforcement officer, firefighter or other first responder an aggravating factor when determining whether capital punishment is appropriate.
    In Feb. 2025, Kennedy reintroduced the Law Enforcement Officers Safety Act Reform Act to expand the concealed-carry rights of qualified law enforcement officers.
    Sens. Lindsey Graham (R-S.C.), Angus King (I-Maine), Ashley Moody (R-Fla.), Catherine Cortez Masto (D-Nev.), Susan Collins (R-Maine), Ben Ray Lujan (D-N.M.), Tim Sheehy (R-Mont.), Richard Blumenthal (D-Conn.), John Kennedy (R-La.), Chris Coons (D-Del.), Tim Scott (R-S.C.), Ruben Gallego (D-Ariz.), Jim Risch (R-Idaho), Peter Welch (D-Vt.), Mitch McConnell (R-Ky.), Tim Kaine (D-Va.), Tommy Tuberville (R-Ala.), Amy Klobuchar (D-Minn.), Rand Paul (R-Ky.), Raphael Warnock (D-Ga.), Mike Crapo (R-Idaho), Brian Schatz (D-Hawaii), Cynthia Lummis (R-Wyo.), Alex Padilla (D-Calif.), Jim Justice (R-W.Va.), John Fetterman (D-Pa.), Katie Britt (R-Ala.), Jacky Rosen (D-Nev.), Jerry Moran (R-Kan.), Sheldon Whitehouse (D-R.I.), John Barrasso (R-Wyo.), Jeanne Shaheen (D-N.H.), Shelley Moore Capito (R-W.Va.), Kirsten Gillibrand (D-N.Y.), Rick Scott (R-Fla.), Jon Ossoff (D-Ga.), Pete Ricketts (R-Neb.), Tammy Duckworth (D-Ill.), Jim Banks (R-Ind.), Mark Kelly (D-Ariz.), Kevin Cramer (R-N.D.), Andy Kim (D-N.J.), Joni Ernst (R-Iowa), Tammy Baldwin (D-Wis.), Ted Budd (R-N.C.), Gary Peters (D-Mich.), Thomas Tillis (R-N.C.), Maria Cantwell (D-Wash.), Cindy Hyde-Smith (R-Miss.), Mark Warner (D-Va.), Roger Marshall (R-Kan.), Elissa Slotkin (D-Mich.), Steve Daines (R-Mont.), Margaret Hassan (D-N.H.), Marsha Blackburn (R-Tenn.), Adam Schiff (D-Calif.), Deb Fischer (R-Neb.), Michael Bennet (D-Colo.), Lisa Murkowski (R-Alaska), Bill Hagerty (R-Tenn.), John Hoeven (R-N.D.), John Cornyn (R-Texas), Mike Lee (R-Utah), Mike Rounds (R-S.D.), John Thune (R-S.D.), Bernie Moreno (R-Ohio), Ted Cruz (R-Texas), Tom Cotton (R-Ark.), Jon Husted (R-Ohio), James Lankford (R-Okla.), Roger Wicker (R-Miss.), Eric Schmitt (R-Mo.), Markwayne Mullin (R-Okla.), Todd Young (R-Ind.), Josh Hawley (R-Mo.), Dan Sullivan (R-Alaska), Dave McCormick (R-Pa.), Cory Booker (D-N.J.), Bill Cassidy (R-La.) and John Boozman (R-Ark.) joined Kennedy, Grassley and Durbin in introducing the resolution.
    Full text of the resolution is available here.

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: Speech by CE at Partnering for Success – Hong Kong as a “Super Connector” and “Super Value-adder” High-level Business Luncheon in Kuwait (English only)

    Source: Hong Kong Government special administrative region

    Following is the speech by the Chief Executive, Mr John Lee, at the Partnering for Success – Hong Kong as a “Super Connector” and “Super Value-adder” High-level Business Luncheon in Kuwait today (May 14):

    Your Excellency Khalifa Abdullah Dhahi Al-Ajeel Al-Askar (Minister of Commerce and Industry of Kuwait), Excellency Ambassador Zhang Jianwei (Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the State of Kuwait), Excellency Mr Rabah Al-Rabah (Director General of Kuwait Chamber of Commerce and Industry), distinguished guests, ladies and gentlemen, 

    As-salamu alaykum. Good afternoon. It is a great pleasure to be with you today in Kuwait, home to one of the world’s largest oil reserves, and a country as committed to talent development as it is to economic diversification. 

    This is our second day in your resplendent capital, Kuwait City, where past, present and future – in design, culture, lifestyle and so much more – come together like no other city in the world.

    Yesterday, I was honoured to have met with His Highness Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, the Amir of Kuwait; His Highness Sheikh Sabah Al-Khaled Al-Hamad Al-Mubarak Al-Sabah, the Crown Prince of Kuwait; His Excellency Sheikh Fahad Yousuf Saud Al-Sabah, Acting Prime Minister of Kuwait, and other senior government officials. I thanked them sincerely for the time, interest and hospitality they have shown us, from the moment we arrived in Kuwait. Kuwait has generously arranged for our government delegates to stay at Bayan Palace, a majestic landmark in Kuwait City. I reaffirmed to them the commitment, and sincerity, of Hong Kong and Mainland China in strengthening relations with Kuwait.  

    Yes, I am delighted to be here. So too, are the business and professional leaders with me, a delegation counting some 30 Hong Kong business and institutional heads, together with high-profile representatives of over 20 Chinese Mainland companies from seven provinces and municipalities across the country.

    The delegation brings with them wide-ranging expertise, and invaluable experience, from both Hong Kong and Mainland China, in green development, and innovation and technology, including advanced manufacturing, artificial intelligence, new energy and materials, health and smart city evolution. They also offer Hong Kong’s wealth of experience in finance, infrastructure, transport and logistics, as well as global business operations and deal-making.

    We are here to better understand the opportunities of Kuwaiti business and investment. To explore how Hong Kong, Mainland China and Kuwait, working together, can create long-term mutual opportunities.

    We’re also here to explore closer ties with the Gulf Cooperation Council (Cooperation Council for the Arab States of the Gulf, GCC), which, as all of you know, includes Kuwait. Kuwait currently holds the presidency of the GCC, wielding significant influence in the region’s development.

    Our ties run deep and far. China, our country, and Kuwait established diplomatic ties in 1971 – making Kuwait the first GCC country to do so. Last year, trade between China and Kuwait reached well over US$16 billion. 

    Kuwait, I’m pleased to note, was the first country in the Middle East to sign a Belt and Road co-operation document with China. From of the Central Bank of Kuwait’s headquarters building and housing projects, to telecommunications and smart city developments, Chinese enterprises have participated in numerous infrastructure and business projects here.

    Hong Kong treasures its trade ties with Kuwait, too. Last year, our bilateral merchandise trade totalled US$200 million, up more than 21 per cent over the year before. 

    Hong Kong’s trade with the GCC last year reached nearly US$20 billion, up 53 per cent over the past four years. And that robust growth is underpinned by our mutual will to advance trade ties.

    Thanks to our internationally recognised professional services sector, Hong Kong is a pivotal player in the Belt and Road Initiative. In 2023, we included a Middle East Forum, for the first time, at our annual Belt and Road Summit. And we continue to feature Middle East speakers and guests at the Summit. 

    Hong Kong’s Belt and Road Summit will take place in September this year. As earlier the Chairman of the Trade Development Council (Hong Kong Trade Development Council) said, it’s our 10th anniversary Summit, and I invite you all to join us, to take part in a world of Belt and Road opportunities – in business, investment and more.

    And the Asian Financial Forum, Hong Kong’s flagship event bringing together prominent leaders in finance and business sectors, hosted its first GCC Chapter this January. 

    Yes, the ties between Hong Kong and the Middle East continue to grow and diversify. 

    They include the launching of the Middle East’s first two exchange-traded funds tracking Hong Kong stocks. Hong Kong is partnering with a Middle East sovereign wealth fund, too. Together, we are committed to jointly establishing a US$1 billion fund, investing in companies connected to Hong Kong and the Guangdong-Hong Kong-Macao Greater Bay Area.  

    The Greater Bay Area, let me add, is a cluster city development that brings together Hong Kong, Macao and nine southern cities in China. The fast-integrating regional economic powerhouse presents a collective GDP (Gross Domestic Product) that closely rivals the world’s 10th largest economy.

    Hong Kong has much to offer Kuwait. Asia’s financial hub and one of the world’s three biggest financial centres, Hong Kong is also the world’s largest offshore Renminbi business centre. Coupled with our Islamic finance experience, Hong Kong is a trusted partner in your project financing – today and long down the road. 

    Free trade is among our great competitive advantages, fuelling our success for the past two centuries. Hong Kong is a free port, and we will continue to be a free port. Like our country, we are a vocal advocate of a multilateral, rules-based global economy, in spite of mounting protectionism and geopolitical tensions.

    And that, ladies and gentlemen, is a testament to our “one country, two systems” governing principle at work. 

    Under the principle, the Hong Kong Special Administrative Region has its own legal, legislative and judicial systems. Our legal system is a common law system, similar to that in many major financial hubs around the globe. We maintain our own currency, with no capital or foreign exchange controls. Information, capital, goods and people flow freely in Hong Kong. 

    The principle of “one country, two systems” also gives Hong Kong unparalleled access to our country’s markets and wide-ranging opportunities. It allows us, as well, to pursue our longstanding ties with the world at large, the Middle East very much included. 

    As today’s luncheon title, Partnering for Success: Hong Kong as a “super connector” and “super value-adder” emphasises, we do more than connecting companies and people. We also add value to their businesses, their services and their future.

    With companies and investors from Mainland China, and all over the world, looking for a financial haven in this time of global economic uncertainty, Hong Kong is flourishing, and keen to work with you, our partners. 

         An international financial newspaper, spotlighting the Hong Kong Exchange and its record quarterly profits, recently noted that Hong Kong has, and I quote, “benefited from a spate of initial public offerings and rising interest from Mainland Chinese and global investors in Hong Kong-listed shares, especially of technological-related companies, driven by optimism over China’s progress in artificial intelligence”. 

    That speaks of Hong Kong’s “one country, two systems” advantages working for you – linking a world of investors to the secure and rapidly growing Chinese market.

    It helps, and greatly, that Hong Kong’s economy is inextricably tied to our common law system and a judiciary that exercises its powers independently, a legal regime that resembles many of the world’s leading financial hubs. They give international companies and investors – Kuwait certainly included – all the confidence and the certainty they need to do business, in Hong Kong and throughout China. Kuwait certainly included.

    Ladies and gentlemen, I’m pleased to note that during our visit, Hong Kong and Kuwait have reached consensus on 24 concrete deliverables, through MOUs and related agreements. A ceremony will take place in just a moment.  

    The agreements cover a broad range of collaboration, from trade and the economy, to investment promotion, financial services, aviation and the maritime industries, post-secondary education, the legal profession, sports and more. 

    And our customs authorities will commence negotiations on the mutual recognition of respective Authorized Economic Operator Programmes. This will create smoother, more convenient international links for our respective companies, making it much easier to do business together.  

    Our Airport Authority Hong Kong will soon sign a new MOU with Kuwait Airways, aimed at enhancing air connectivity between the two regions, fostering operational excellence, supporting sustainability, and advancing talent development in the aviation sector.  

    They will lay a solid foundation for long-term collaboration between our two economies and our two peoples. 

    That just touches on our growing co-operation. Indeed, we are now looking into opening a second Hong Kong Economic and Trade Office in the GCC region, to manage our many ongoing Middle East projects and prospects in the offering.

    One key area is boosting merchandise trade between our economies. Hong Kong, I’m pleased to say, has signed Comprehensive Double Taxation Agreements (IPPA) with five of the six GCC states. We have also entered into Investment Promotion and Protection Agreements with three of the states, with Kuwait being the first. We have also substantially concluded negotiations on an IPPA with Qatar, our previous stop on this trip, and commenced negotiations with another state. 

    Indeed, our burgeoning trade and investment co-operation, I believe, could well add momentum to the possibility of a free trade agreement between Hong Kong and the GCC. I look forward to our continuing discussions with the Council.

    Beyond business and investment connectivity, there is boundless promise, too, in co-operating in sectors such as arts and culture. 

    Yesterday, we had the pleasure of visiting the dazzling Sheikh Abdullah Al Salem Cultural Centre, one of the world’s largest museum complexes. Seeing, firsthand, Kuwait’s compelling commitment to arts, culture and science. I must add that Kuwait is this year’s Arab Culture Capital, presenting nearly 100 activities as part of the country’s cultural celebration.

    Like Kuwait, Hong Kong believes in the primacy of arts and culture. Meanwhile, Hong Kong’s West Kowloon Cultural District is rising as one of the world’s largest cultural developments. And we are committed to becoming the world’s East-meets-West centre for international cultural exchange. That very much includes Kuwait and the Middle East in general.

    My thanks to our Hong Kong Economic and Trade Office in the Middle East and the Hong Kong Trade Development Council for organising today’s welcome gathering. And to the Kuwait Direct Investment Promotion Authority and the Kuwait Chamber of Commerce and Industry for kindly supporting us on this memorable occasion.

    Ladies and gentlemen, I know you will enjoy today’s luncheon. Including, let me add, a musical performance by TroVessional, a Hong Kong group dedicated to Cantonese and Chinese ethnic music, brought to engaging life with classic Chinese instruments.

    Enjoy it and thank you!

    MIL OSI Asia Pacific News –

  • MIL-OSI Russia: China issued 10.06 trillion yuan in new loans in first four months of 2025

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    BEIJING, May 14 (Xinhua) — China issued 10.06 trillion yuan (1.39 trillion U.S. dollars) worth of new renminbi-denominated loans in the first four months of 2025, data from the People’s Bank of China (PBOC) showed Wednesday.

    According to the PBOC, the volume of outstanding loans stood at 265.7 trillion yuan at the end of April, up 7.2 percent year-on-year.

    In the first four months, loans to households increased by 518.4 billion yuan, while loans to businesses increased by 9.27 trillion yuan.

    As noted by the Central Bank, by the end of April this year, the volume of money supply M2, which includes cash in circulation and all deposits, increased by 8 percent year-on-year to 325.17 trillion yuan.

    At the same time, the volume of M1 money supply, covering cash in circulation, demand deposits and funds in accounts of clients of non-bank payment institutions, amounted to 109.14 trillion yuan, showing an increase of 1.5 percent year-on-year.

    The M0 money supply, which includes all cash in circulation, reached 13.14 trillion yuan by the end of last month, up 12 percent year-on-year.

    In the first four months, the volume of yuan deposits in China increased by 12.55 trillion yuan, of which 7.83 trillion yuan came from household deposits.

    According to preliminary estimates, China’s public finance reserves reached 424 trillion yuan at the end of April, up 8.7 percent year-on-year.

    Preliminary data also showed that public funding increased by 16.34 trillion yuan in the first four months, up 3.61 trillion yuan from the same period last year. –0–

    MIL OSI Russia News –

  • MIL-OSI Banking: Empowering teen students to achieve more with Copilot Chat and Microsoft 365 Copilot

    Source: Microsoft

    Headline: Empowering teen students to achieve more with Copilot Chat and Microsoft 365 Copilot

    Learn about Microsoft 365 Copilot availability for students aged 13 and older. Enhance learning with AI, enterprise protection, and IT controls.

    We’re excited to announce Copilot Chat and Microsoft 365 Copilot availability for students aged 13 and older is coming this summer with enterprise data protection and IT controls. AI provides new and unique learning opportunities when integrated thoughtfully as a complement to established practices with input from educators. A study from Microsoft Research found that most students demonstrated remarkable curiosity when using AI, asking sophisticated questions that extended beyond their task at hand and led to deeper understanding. Further, the latest report from LinkedIn calls for action to equip the future workforce with AI and uniquely human skills as demand is rapidly increasing.

    We’re optimistic about the opportunities that lie ahead to help students advance their learning and build skills to prepare for success in their future. We’ll share impact and insights from our private preview for students aged 13 and older, product details, and resources to help you get started.

    Try Copilot Chat today

    Increasing student agency with Copilot Chat

    Throughout our preview, we heard feedback from K-12 institutions that reinforced the importance of providing training and support for educators and students, setting appropriate guidelines, and granting permission to experiment and learn together. They also demonstrated what’s possible when these needs are met. Read on for testimonials from Fulton County Schools and Brisbane Catholic Education, with more insights from our preview and resources later in the blog.

    Fulton County Schools first set a foundation with an AI task force, evaluation of over 200 use cases, and alignment on critical goals such as preparing students for their future and giving every student the opportunity to learn in a way that works best for them. After initial training, educators introduced Copilot Chat as a thought partner, provided coaching on topics like prompting, and quickly saw student confidence and curiosity increase. Students used it to ideate, receive immediate feedback without judgment, design multimedia projects, identify and fix code errors, adjust content based on their preferences or pace, and manage their time. Educators are also now able to challenge them more than ever, and students are using Copilot Chat as a force multiplier to bring their ideas and passions to life in ways they couldn’t previously imagine or access.

    Hear Johns Creek High School educators and students share their experience with Copilot Chat in their own words in the following video and read the full story.

    Read the Johns Creek High School story

    For Brisbane Catholic Education (BCE), the journey began with a plan to use AI to support their mission to teach, challenge, and transform in a time where there are increasing needs for reduction of administrative workload and evolution of learning models for digital-native students. Educators in an early trial reported saving an average of 9.3 hours per week which contributed to BCE’s interest and confidence to expand access more broadly. Copilot Chat increased student agency, enabled more project-based work, and accelerated a shift they’ve been trying to make for years to help students truly become learners, not just receivers of knowledge. Shane Tooley, Assistant Principal, noted, “The real promise of Copilot Chat isn’t efficiency—it’s cognition. It’s helping us push students beyond knowledge recall into evaluation, synthesis, and justification.”

    BCE’s success was built on strong leadership buy-in, aligning AI with broader strategic goals, ongoing measurement, and transparent engagement with opportunities for co-design. It sparked new ways of thinking, a culture of sharing, and thoughtful reflection on the future of education. Learn more about how BCE boosts agency and efficiency with Copilot Chat and Microsoft 365 Copilot.

    My role has shifted from lesson planner to facilitator and mentor. One of the most powerful moments was watching a student ask Copilot Chat to reformat their assignment for dyslexia accessibility. That’s agency. That’s personalization. And it happened without pulling the teacher away from the rest of the class.

    Michael Parker, Student Academic Performance and Growth Leader, Trinity College

    Get started with Copilot Chat, learn more about Microsoft 365 Copilot

    Copilot Chat offers free, secure AI chat powered by GPT-4o and the ability to maintain IT control with enterprise data protection and management and is included with Microsoft 365. It also includes features like file upload, image generation, Copilot Pages, and agents. Learn more by reviewing our Copilot Chat documentation. Copilot Chat will be generally available for students aged 13 and older this summer and administrators will need to take additional steps to grant access based on their institution’s plans and preferences. We recommend administrators review the details on managing Copilot Chat access for students and begin taking the next steps to prepare today.

    Manage Copilot Chat access for students

    When you add a Microsoft 365 Copilot license, Copilot Chat becomes more powerful by drawing on the Microsoft Graph for access and understanding of your institutional data, working directly in productivity apps like Outlook, Microsoft Teams, PowerPoint, and Excel, and using advanced measurement and management tools. Microsoft 365 Copilot will be eligible to purchase as an add-on for students aged 13 and older with a Microsoft 365 subscription later in May 2025. Higher education institutions like Indiana University and Miami Dade College are already seeing the impact of Microsoft 365 Copilot to enhance career readiness and increase student engagement.

    Copilot Chat and Microsoft 365 Copilot offer enterprise data protection, the same enterprise terms available in our Microsoft 365 offerings. This means we secure your data, your data is private, your existing Microsoft 365 access controls and policies apply, you’re guarded against AI security and copyright risks, and your data isn’t used to train foundation models. Keeping your institutional data protected is important, and Copilot Chat has built-in safeguards to help ensure it stays that way. Additionally, IT administrators and security professionals can further secure, manage, and analyze the use of Copilot Chat, Microsoft 365 Copilot, Copilot Studio, and agents across their institution with the Copilot Control System.

    We look forward to hearing how Copilot Chat and Microsoft 365 Copilot bring new opportunities to life for your students and institutions. A National 4-H Council survey with young people found that many kids (72%) are seeking support from adults in learning how to use these tools correctly and with confidence. The importance of helping students, educators, and staff adapt to an evolving future will increase and we’ll continue to provide access to the latest technology and relevant resources.

    Explore Microsoft Copilot for personal use

    Many students are not only starting to use AI tools in the classroom, but also at home and for purposes outside of schoolwork. Microsoft Copilot for individuals is designed to inform, entertain, and inspire and can be accessed for free with a Microsoft personal account. Learn more about default settings and policies to protect those aged 13 and older using Microsoft Copilot. Microsoft 365 Personal or Family is also available for use of productivity apps and credits for new AI features. Eligible students can receive a 50% discount on Microsoft 365 Personal and starting today—students in the United States can sign up for a free three-month trial.

    Additional insights from our preview

    We want to thank the inspiring educators, students, and institutional leaders who have shared their insights with us and agreed to share them more broadly with you. Participants emphasized the importance of professional development, guidelines, prompting practice, and creating space for transparency and sharing of successes and failures. Educators noticed Copilot Chat helped keep students engaged, immediately receive and act on feedback, improve their research and analysis process, explore counterarguments, and build AI skills that they’ve already begun using to their advantage in the hiring process and even teaching to their employers in part-time jobs. Students also appreciated time savings, providing relief from the stress of deadlines, through the ability to easily brainstorm, troubleshoot issues, ask unlimited questions, and learn at their own pace.

    Shane Tooley, Assistant Principal Curriculum at St. Peter Claver College says, “If you’re on the fence about AI, it comes down to this: Your students will surprise you. Given the chance, they’ll use AI ethically and meaningfully. The key is to guide them—not restrict them. Show them what good use looks like.”

    Students in Onslow County enjoyed interacting with Copilot Chat to learn more about historical figures, create questions geared towards their specific needs, and receive assistance while away from school. One educator reflected, “Using AI was an eye-opening experience, all I had ever heard or thought about were the negatives, but actually using it allowed me to see many of the wonderful benefits it can bring to our students’ educational experience.”

    Jorge Ledezma, Director of Educational Technology, Santa Margarita Catholic High School advises, “It’s crucial to provide AI literacy courses and resources so that students can learn how to use AI responsibly. Furthermore, emphasizing the importance of privacy and security when using AI tools is vital. This not only helps students understand the ethical implications but also ensures they are well-prepared to navigate the digital world safely.”

    In Saga Prefecture, ⁠instructors helped students use Copilot Chat to learn how to prompt AI tools, program 3D games in Python, resolve issues on their own, and take initiative to further explore their interests. They used Copilot Chat side by side with Microsoft MakeCode for easy access to troubleshooting support and the ability to ask deeper questions about the task at hand. Educators and leaders emphasized the importance of data protection when providing AI tools to their students.

    Dr. Faisal Al Busaidi, Director General of Information Technology, Ministry of Education Oman urges, “Successful adoption of Copilot Chat hinges on the preparedness of educators. I strongly encourage institutions to invest in structured training programs that empower teachers to guide students in using AI tools effectively and thoughtfully.”

    Educators at Our Lady of the Southern Cross College, Dalby noted that Copilot Chat fostered further independence and critical thinking for their students as they reflected on how to use AI effectively and responsibly in and outside of school. They also expressed the importance of providing training for students and staff, and that like any new technology in education—the experience will only be as good as the guidelines and learning sequence that accompany it.

    Lisvette Flores Quiñones, Department of Education, Puerto Rico shared “Copilot Chat’s use in education and document management has been incredibly beneficial in all teaching and learning processes, I look forward to continuing learning and exploring the potential of AI. I encourage my students to start with Copilot Chat, adjust information to their learning style, and to be specific in their prompts to achieve great results.”

    Resources to begin your AI journey

    Educators in our preview program consistently highlighted the need for training in AI rollout and we have several resources and tools to help you and your students get started:

    • AI Classroom Toolkit – Try this creative resource to introduce AI to teen students that blends engaging narrative stories with instructional information for an immersive and informative learning experience.
    • Copilot Chat Adoption Kit – Review the collection of resources for IT, educators, and guardians to get started with Copilot Chat.
    • Family Safety Toolkit – Learn more about online safety guidance for all ages, tools and tips, and resources we have developed over time through engagement with young people and digital safety partnerships.
    • Minecraft Education AI Foundations – Discover a set of accessible, interactive materials for building AI literacy such as curriculum, short videos, Minecraft lessons, and more.
    • Additional free AI tools – Explore the AI-enhanced Learning Accelerators to help students build foundational skills, GitHub Copilot to empower the next generation of developers, and Khan Academy Writing Coach.
    • FarmBeats for Students program expansion – Access a free, comprehensive course providing training on precision agriculture, data science, and AI designed for classrooms of all kinds.

    Discover even more resources for educators, leaders, and administrators:

    MIL OSI Global Banks –