Source: United States House of Representatives – Congresswoman Pramila Jayapal (7th District of Washington)
WASHINGTON — Today, Congresswoman Jan Schakowsky (IL-09), U.S. Senator Edward J. Markey (D-MA), Congressman Dr. Raul Ruiz (CA-25), and Congresswoman Pramila Jayapal (WA-07) introduced the Dr. Paul Farmer Memorial Resolution, to honor Dr. Farmer’s staggering life and legacy and lay out his extraordinary vision for realizing global health equity. This resolution lays out a 21st century global health strategy that proposes spending $125 billion annually on global health aid, reforming aid to focus on building national health systems, and putting an end to the exploitation of impoverished countries to increase their domestic tax base and health spending. This resolution seeks to save over 100 million lives per decade by increasing the flow of money in the global economy.
“Dr. Paul Farmer is responsible for transforming the lives of millions and millions of poor and marginalized people around the world, bringing them health care, dignity, and justice. A true visionary, Paul insisted that all people have a right to excellent health care, and he developed the systems to deliver it in places people had written off. Gleaming world class hospitals and locally trained doctors, nurses, and community workers now exist in places like Haiti and Rwanda. Paul was not only a world-renowned leader in global health, but also a precious friend and a tireless organizer, inspiring thousands of people to actively participate in his work. All of us owe him a debt that can only be paid by carrying on his mission and legacy,” said Congresswoman Jan Schakowsky. “That is why I am introducing the Dr. Paul Farmer Memorial Resolution alongside my colleagues Senator Markey and Representatives Ruiz and Jayapal. This resolution lays out a 21st Century Global Health Strategy that enshrines Paul’s vision to achieve global universal health care and end unnecessary and preventable deaths. We are the richest country in the world at the richest time in the world. As the Trump Administration rips away lifesaving aid from millions of people, it is more important than ever for those of us who care about global health and justice to rededicate ourselves to building and fully funding a robust global health strategy. Paul called on us to understand global health inequity as an injustice—a result of centuries of violence and exploitation inflicted on the global poor. We can make the choice to end global health inequity, and with Paul’s vision guiding us, we will.”
“Dr. Paul Farmer was a health care visionary and revolutionary who understood compassion and care went hand in hand. At a time when global health and well-being are strained, I am proud to introduce this resolution honoring Dr. Farmer and the transformational work he did to deliver health care to people and communities around the world. Health is the first wealth, and we must do everything in our power to ensure that people around the world are healthy, safe, and have access to the resources they need to live and thrive,” said Senator Edward Markey.
“Dr. Paul Farmer was more than a global health leader, he was my mentor, professor, and dear friend,” said Congressman Dr. Raul Ruiz. “From my early years at Harvard Medical School to our work together in Boston, Chiapas, Guatemala, and post-earthquake Haiti, he showed me what it means to fight for underserved communities with unwavering dedication. I am honored to help reintroduce this resolution in his memory, as a testament to his extraordinary impact on humanity.”
“Dr. Paul Farmer changed global health for the better with his work in impoverished countries, treating infectious diseases and providing high quality care to those who needed it most. He also fundamentally altered the way we think about international aid, and his organizing and movement building has led to millions of people worldwide living healthier and longer lives. As a lifelong organizer and someone who worked in global health for years before coming to Congress, I know the importance of this work and know how devastating Trump and Republicans’ cuts to USAID and other international aid programs are. This resolution outlines a vision for a world in which we tackle the injustice of global health inequities and treat health care as a true human right. It also recognizes that to achieve these goals, we need to democratize the global financial system, including cancelling predatory debt that has often crushed low- and middle-income countries. I’m proud to co-lead it with Representatives Schakowsky and Ruiz,” saidCongresswoman Pramila Jayapal.
The proposals in the resolution are as follows:
Increase global health aid to $125 billion per year
Close the essential universal health care financing gap for low-income countries
Allow the U.S. to meet the U.N. aid target of 0.7% GNI for the first time ever
Reform global health aid
Focus on building national health systems and direct funding to local partners, not the development industry
Develop new medical technologies for diseases of poverty and ensure their availability as global public goods
Make the global economy more fair, just, and democratic
Democratizing the IMF, World Bank, and World Trade Organization, so that poor countries have greater say over decisions that affect their economies and their ability to finance health systems
Global debt cancelation for all developing countries that need it
Ending harmful licit and illicit financial flows from poor countries—ending global tax havens and illegal practices like trade misinvoicing
Supporting global labor rights, such as a global minimum wage
“In this moment of crisis, we need Paul’s vision for global health justice more than ever. Thankfully, that vision is captured in this resolution. It provides us with a much-needed roadmap for global cooperation based on solidarity and justice by getting to the root causes of unnecessary suffering and death, or what Paul called ‘structural violence’. This includes greatly improving development assistance for health, but also going well beyond aid to address ongoing extractive colonial arrangements, which preclude local investments in health systems,” said Sheila Davis, CEO of Partners in Health.
As an infectious disease physician, Dr. Farmer earned accolades for treating patients in impoverished countries with high quality care, including those suffering from HIV and cancer. As a medical anthropologist, he was known for popularizing and deepening understandings of “structural violence,” the idea that social systems are designed to impoverish, sicken, and sideline select groups. As chief strategist of Partners in Health, he garnered plaudits for pioneering community-based treatment strategies, building teaching hospitals, and more. Dr. Farmer called on us to understand global health inequity as an injustice—an effect of centuries of violence and exploitation inflicted on the global poor. This resolution embodies that and will serve as a North Star that will guide the movement for global health equity for years to come.
In addition to Reps. Schakowsky, Ruiz, and Jayapal, this resolution is cosponsored in the House of Representatives by Reps. Raja Krishnamoorthi (IL-08), Betty McCollum (MN-04), Jim McGovern (MA-02), Seth Moulton (MA-06), Ayanna Pressley (MA-07), Delia Ramirez (IL-03), Juan Vargas (CA-52).
In addition to Sen. Markey, this resolution is cosponsored in the Senate by Sen. Elizabeth Warren (D-MA).
Issues: Foreign Affairs & National Security, Health Care
Seven reappointments and seven new appointments to eight companies in the State Owned Enterprises portfolio have been made, ensuring these companies are equipped with the skills and expertise necessary to deliver on their commitments to New Zealanders, State Owned Enterprises Minister Simeon Brown says.
“I have made clear that the Government expects a return on investment from our state-owned enterprises, and that like all commercial entities, they need to make commercial decisions that are in the best interest of the company. This requires SOEs to run profitable businesses that set ambitious targets and performance measures and emphasise distributions to shareholders.
“The Government is committed to ensuring our state-owned enterprises have strong leadership in place to navigate both the challenges and opportunities they face. These individuals bring a strong mix of governance expertise, commercial acumen, and stakeholder engagement to their roles, which will help ensure the entities they oversee meet the Government’s expectations,” Mr Brown says
ECNZ and Kordia will benefit from experienced leadership continuity through the reappointments of Victor Wu and Sophie Haslem as the Chairs of ECNZ and Kordia respectively. Victor Wu has successfully guided ECNZ towards its planned wind-up, while Sophie Haslem will continue to oversee Kordia’s strategic transformation, driving improved operational efficiency and enhancing its future resilience.
In addition, Terry Paddy (Airways), Jan Hilder (AsureQuality), Jane Meares (ECNZ), Nicola Riordan and Linda Robertson (Kordia) have all been reappointed to their respective boards with new term start dates of 1 September for Nicola Riordan and 1 November for the remainder.
Seven new directors will bring specific skills to help Hawke’s Bay Airport, Landcorp, MetService, and NZ Post achieve Ministers’ expectations, with terms commencing on 1 August:
Hawke’s Bay Airport: Megan Allan will bring expertise in financial strategy, operational efficiencies, and stakeholder engagement to enhance the airport’s role as an economic hub for the region.
Landcorp (Pāmu): The appointments of Angela Dixon, Stu Husband, and Brent Lawgun will focus on driving Landcorp’s performance turnaround. Collectively, they bring experience in agricultural governance, capital management, and iwi engagement, tailored to meet the Government’s expectations for a sharper focus on core farming operations.
MetService: Janie Elrick and Julian Smith bring complementary skills, with backgrounds in finance, risk management, and customer-centred transformational change. They will add value to the Board as the business amalgamates with NIWA over the medium term.
NZ Post: Michelle Henderson, with her commercial acumen and expertise in governance and digital transformation, will support the organisation’s transformation in the postal and logistics sector.
The Government acknowledges and thanks outgoing appointees for their valuable contributions and service.
TORONTO, July 31, 2025 (GLOBE NEWSWIRE) — Altai Resources Inc. (TSXV: ATI) (“Altai” or the “Company”) announced today that it has filed a management information circular (the “Circular”) and related meeting materials (together with the Circular, the “Meeting Materials”) in connection with a special meeting (the “Meeting”) of shareholders of the Company (the “Shareholders”) to be held on September 3, 2025 to consider and, if deemed advisable, approve, with or without variation, a special resolution authorizing and approving a reduction of the stated capital account of the common shares of the Company (the “Common Shares”) by an aggregate amount to be determined by the board of directors of the Company from time to time up to a maximum cumulative total amount of $4,000,000 pursuant to Section 34(1)(b) of the Business Corporations Act (Ontario) for the purposes of distributing such amount to holders of Common Shares by way of a return of capital in one or more special cash distribution(s), all as more particularly described in the Circular.
Shareholders are encouraged to read the Meeting Materials, which have been filed on SEDAR+ and can be viewed at www.sedarplus.ca under the Company’s profile. The Meeting Materials will be mailed in due course to the Shareholders entitled to vote at the Meeting.
ABOUTTHE COMPANY Altai Resources Inc. is a Toronto, Ontario based resource company with a producing oil property in Alberta, an exploration gold property in Quebec, and a Canadian investment portfolio comprised of cash and cash equivalents. Additional information about the Company is available on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.altairesources.com.
For further information, please contact: Kursat Kacira,Chairman & CEO/President T: (647) 282-8324, E: kursatkacira@altairesources.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Source: United States Senator for New Hampshire Jeanne Shaheen
(Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH), Ranking Member of the U.S. Senate Foreign Relations Committee and a top member of the U.S. Senate Small Business Committee, joined Bloomberg TV’s Balance of Power last night to discuss her Senate floor effort to block President Trump’s tariffs from taking effect on August 1 and lead her colleagues in detailing the real harm the Administration’s trade war causes to American families and businesses. Shaheen relayed the concerns she heard from Granite State small businesses during recent visits about the high costs, uncertainty and supply chain challenges posed by the President’s trade war.
ClickHEREto watch Senator Shaheen’s full interview.
Key quotes from Senator Shaheen:
“I went to the floor several months ago with the same unanimous consent request for legislation that I’ve introduced, and the Republican majority objected to that – but I think it’s important to continue to raise the concern. Because every business that I visit in New Hampshire has expressed concern about the tariffs.”
“The other thing that I’ve heard from literally every business that I’ve visited is that, as much of a problem as the high tariffs are and the increases in cost, it’s the uncertainty that it means for their business. Because they don’t know what the President’s gonna do. […] So, businesses don’t know how to invest, they don’t know how to plan – and that creates real problems for businesses and the people who work there.”
“We just had a hearing in Foreign Relations today on critical minerals in Africa, and the fact that we’re not producing those critical minerals in the United States that we need for the auto industry, for our appliances and virtually everything we do. So we need to do that, but these tariffs aren’t going to help us with those critical minerals. We need to make some of those investments, and we need to have a strategy to do that.”
Following the interview, Shaheen took to the Senate floor to call for unanimous consent to pass her Protecting Americans from Tax Hikes on Imported Goods Act and highlight the devastating impacts the trade war has on families, small businesses, American manufacturing and key trade partnerships across the world. If Senate Republicans had not blocked the move, Shaheen’s legislation would have clarified that the President does not have the authority to invoke the International Emergency Economic Powers Act(IEEPA) to level sweeping tariffs.
ClickHEREto watch Shaheen’s remarks in full.
Senator Shaheen is helping lead efforts in Congress to mitigate the harmful impacts of President Trump’s tariffs. Last week, Shaheen helped introduce bipartisan legislation, Creating Access to Necessary American-Canadian Duty Adjustments (CANADA) Act, that would exempt United States-owned small businesses from the sweeping tariffs imposed on Canadian products. Last month, Shaheen led 30 Senators in filing an amicus brief in a key case, Oregon v. Department of Homeland Security, challenging the Trump Administration’s abuse of emergency powers to impose tariffs. In January, Shaheen introduced the Protecting Americans from Tax Hikes on Imported Goods Act.
In recent months, Shaheen has traveled across the Granite State to discuss the impact of tariffs on New Hampshire’s tourism industry and to visit businesses impacted by President Trump’s trade war including Brueckner Group USA, Colby Footwear, Chatila’s Bakery, C&J, DCI Furniture, Mount Cabot Maple, American Calan Inc. and NH Ball Bearings.
The Government of Saskatchewan is proud to join provinces across Canada in officially proclaiming August 2 as Food Day Canada. This day serves as a celebration of the individuals and communities who contribute to Canada’s vibrant food system.
“Food Day Canada is a great opportunity to recognize the efforts of all the people who contribute to the success of our agriculture sector,” Agriculture Minister Daryl Harrison said. “From producers and researchers to food companies and restaurants, they all have a role to play in delivering safe, sustainable and high-quality food to our tables.”
Now in its 22nd year, Food Day Canada is one of the country’s largest and longest-running celebrations of Canadian food and those who produce it.
The Government of Saskatchewan remains committed to supporting the province’s diverse and globally-respected agriculture and agri-food sector. Agriculture plays a vital role in the province’s economy and its future growth. The sector is responsible for about 10 per cent of our economy, 36,900 jobs and 41 per cent of our total annual exports.
In 2024, Saskatchewan exported $18.5 billion in agri-food products and processed $7.9 billion in value – added products. Our agri-food exports have grown by a third since 2014 as we continue to advance toward our 2030 agriculture-related targets in Saskatchewan’s Growth Plan.
The Ministry of Agriculture supports organizations such as Agriculture in the Classroom, Farm & Food Care Saskatchewan, and 4-H Saskatchewan to strengthen consumer awareness about the agriculture sector and its connection to the food they buy, prepare and eat.
People in Saskatchewan are encouraged to participate in Food Day Canada by trying a new recipe, dining at a local restaurant, or sharing their food stories and photos online using #FoodDayCanada and tagging @FoodDayCanada.
MYRTLE BEACH, SC – U.S. Department of Labor Secretary Lori Chavez-DeRemer continued her nationwide America at Work listening tour this week starting on the West Coast in Washington state to discuss artificial intelligence, before heading to the East Coast and stopping in South Carolina, where she spoke with business leaders and manufacturers in Florence, Georgetown, Hartsville, Mullins, and Myrtle Beach.
In Kirkland, Washington, the Secretary met with software developers at ServiceNow to discuss the growing role of artificial intelligence in the workplace. In South Carolina, she visited with manufacturers across multiple industries to hear directly from business leaders and workers about how President Trump’s pro-growth policies are strengthening the American workforce.
“Every sector of our economy is coming back to life under President Trump’s bold, visionary leadership – from artificial intelligence in Washington state to advanced manufacturing in South Carolina,” said Secretary Chavez-DeRemer. “In just over six months, this President has expanded economic opportunity for hardworking Americans by making historic investments in our workforce through the One Big Beautiful Bill Act. I’d like to thank my friend, Congressman Fry, for hosting me in the great state of South Carolina to see the positive impacts of these America First policies firsthand. I’m committed to working with our federal, state, and local partners to ensure workers have the tools they need to succeed in America’s new Golden Age.”
“South Carolina is home to some of the hardest working people in the country, and the One Big Beautiful Bill puts them first – cutting taxes, growing jobs, and investing in the future of our workforce,” said Rep. Russell Fry. “From touring thriving manufacturing facilities, seeing our tourism and hospitality industries in action, and meeting the workers who keep it all running, we saw firsthand how this legislation delivers for South Carolina families and the American people. Thank you to my good friend Secretary Chavez-DeRemer for visiting the Grand Strand and Pee Dee regions of our state to see just how much this bill will mean for South Carolina’s future.”
Washington
In Kirkland, Secretary Chavez-DeRemer toured ServiceNow’s offices and met with employees to discuss how they are helping power a new AI boom in the U.S. The Secretary emphasized that the Department of Labor will play a central role in implementing President Trump’s AI Action Plan, which aims to boost AI literacy, invest in skills training, and ensure American workers are equipped to thrive in an increasingly AI-driven economy.
South Carolina
In Myrtle Beach, Secretary Chavez-DeRemer joined Rep. Fry for a roundtable discussion with business leaders at the Myrtle Beach Chamber of Commerce. They talked about how the One Big Beautiful Bill Act is reinvigorating American industry by eliminating taxes on tips and overtime and expanding access to Pell Grants for technical schools so students can be ready to fill in-demand jobs. The Secretary also provided an update on her America at Work tour, reiterating that listening directly to workers is critical to developing policies that put American workers first.
Following the roundtable, Secretary Chavez-DeRemer visited several local employers that are driving economic growth and job creation:
Envirosep, where she met with engineers and technicians developing next-generation heating system technologies designed to improve energy efficiency and reduce operating costs.
SOPACKO, a manufacturer of ready-to-eat meals for the U.S. military, where she observed how recent investments have strengthened domestic production and bolstered manufacturing capacity to support America’s servicemembers.
Buc-ee’s, where she toured the company’s only South Carolina location and saw firsthand how the pride and value of hard work is reflected in top-tier customer service.
Stingray Boats, where she visited with workers to learn more about how one of the nation’s leading independent boat builders has been manufacturing high-performance recreational boats for over four decades.
At each stop, Secretary Chavez-DeRemer highlighted how President Trump’s One Big Beautiful Bill Act is creating new pathways to economic prosperity by expanding opportunity and helping more hardworking men and women achieve the American Dream. Learn more about her recent visits to Georgia, Michigan, and Indiana.
NASDAQ FIRST NORTH, COPENHAGEN TICKER: HRC ISIN: GB00BZ3CDY20
31 July 2025
AUDITED ANNUAL RESULTS TO 31 MARCH 2025
The Board of Directors of HRC World Plc (the “Company”), has approved and subsequently are pleased to present its audited financial results for the financial year ended 31 March 2025. The audited financial statements are appended to this announcement and is also available at the Company’s website http://www.hrcplc.co.uk
The Group reported revenue of US$818,000 for the year ending 31 March 2025, reflecting a much increased income compared to the previous year’s revenue of US$141,000. The financial year ended 31 March 2025 marked a significant improvement in the Group’s performance, reflecting early outcomes of its strategic realignment. The Group also narrowed its pre-tax loss to US$46,000, from US$220,000 in the prior year, indicating improved operational cost control despite ongoing investment in future growth sectors. These results underscore the Group’s steady progress in repositioning toward highpotential, technology-driven business segments.
The Company remains optimistic about its strategic direction and future prospects and continued to advance its strategic transformation toward digital infrastructure and sustainable energy solutions. While restaurant management services remained part of our operations during the transition period, our focus has increasingly shifted to the development and future commercialisation of our data centre and IT infrastructure capabilities. These efforts reflect our commitment to building a future-ready business model centred on technology-driven services.
As announced previously, the Directors are not proposing the payment of a dividend.
THE DIRECTORS OF HRC WORLD PLC ACCEPT RESPONSIBILITY FOR THIS ANNOUNCEMENT
About HRC World Plc HRC World Plc is an England & Wales incorporated public company with registration number 10829936 and is quoted on Nasdaq First North Growth Market (Copenhagen). HRC World provides café management services for developing tourist-based and event-based revenues in member restaurants as well as implementation of HRC Music initiatives.
Further information may be found at the Company’s website: www.hrcplc.co.uk
Company contact details HRC World Plc +603 7786 0500 info@hrcplc.co.uk
After working in South Africa for nearly 18 years and putting her studies on hold when her daughter became seriously ill, Chantel Delport is now halfway through a Bachelor of Accounting at EIT.
The 36-year-old mother of three moved to New Zealand with her husband Quentin and their children in 2019, following a difficult period that saw her prioritise family over formal study.
“I did begin my studies back home in South Africa, but due to a serious family health scare involving my daughter, I wasn’t able to sit my exams,” Chantel says.
“At that time, my children became my top priority, and I put my studies on hold.”
While settling into a new life in Hawke’s Bay, Chantel continued with some online learning and worked in accounts and admin. She had already been a bookkeeper since 2007, something she says she loved from the beginning, but she was ready to take her skills further.
“Over the years I completed various online courses, but none were NZQA-approved. I really wanted to take my skills to the next level.”
Chantel says she chose EIT because she wanted to study in a real classroom environment where she could engage directly with lecturers. Although she was nervous at first about returning to study, she quickly found she was not alone.
“I thought I’d be the oldest student on campus, but I was pleasantly surprised to find many people my age also pursuing education and self-improvement.”
She says smaller class sizes at EIT have allowed her to ask more questions and form meaningful connections with both classmates and lecturers.
“My lecturers have been incredibly understanding and supportive, especially as I juggle life as a mum of three, one of whom has ongoing health challenges.”
Chantel still works part-time in accounts and admin while studying. She says finding balance has not always been easy, but it has been worth it.
“There have been plenty of exhausting days where I questioned whether I could keep going, but the personal satisfaction and sense of achievement have kept me moving forward.”
Her long-term goal is to become a Chartered Accountant and potentially explore forensic accounting in future.
To others considering a return to study later in life, she has a simple message: “Don’t let age stop you.”
“It’s never too late to pursue the education you’ve always dreamed of or to aim for the career and pay you deserve. You are absolutely worth it.”
Gareth Allison, EIT’s Head of the School of Business, said: “Chantel’s journey is a powerful reminder that perseverance can overcome even the toughest challenges”.
“We are proud to support students like her who balance family, work, and study. At EIT, we believe education is a lifelong pursuit, and Chantel’s success is an inspiration to all who aspire to reach their goals.”
Sheridan, Wyoming, July 31, 2025 (GLOBE NEWSWIRE) — Final Debt Relief, a trusted leader in debt relief solutions, today announced the launch of its Smart Savings Estimator, an innovative AI-powered platform that offers personalized savings and repayment projections and connects users with vetted debt relief providers, all without obligation.
As consumer debt continues to rise, with U.S. credit card balances surpassing $1.13 trillion in 2024, Americans are increasingly seeking effective and transparent solutions to regain financial control. The Smart Savings Estimator is designed to support individuals with $10,000 or more in unsecured debt, including credit card debt, personal loans, and medical bills. By inputting basic information such as location, total debt, and financial goals, users receive customized estimates of their potential savings and tailored matches with debt relief companies that suit their unique situations.
The Time Advantage: Freedom in Years, Not Decades
One of the most compelling benefits of debt settlement programs is the dramatic time savings they offer. While traditional minimum payment approaches can trap consumers in debt cycles lasting 10-20 years or more, professionally managed debt settlement programs typically achieve resolution in just 24-48 months. This time advantage means families can reclaim their financial freedom in a fraction of the time, allowing them to redirect their energy toward building wealth rather than servicing endless debt.
Beyond Financial Relief: Restoring Peace of Mind
The benefits of effective debt resolution extend far beyond mere dollars and cents. Users of debt settlement programs consistently report profound emotional improvements that transform their daily lives:
Reduced Stress: Freedom from constant worry about mounting bills and collection calls
Peaceful Sleep: Relief from the anxiety that keeps debt-burdened individuals awake at night
Relationship Harmony: Elimination of financial strain that often creates tension between spouses and family members
“Debt isn’t just a financial burden, it’s an emotional prison,” said Dan Henderson, Lead Technology Officer at Final Debt Relief. “When someone can see a clear path to freedom in 2-4 years instead of 20, and when they stop losing sleep over mounting bills, that’s when real healing begins. Our Smart Savings Estimator shows people both the financial math and the emotional relief that’s possible.”
Transparency and Trust: Removing Industry Barriers
This launch addresses growing concerns about the lack of clarity and trust in the debt relief industry. Many consumers avoid seeking help due to confusing terms, hidden fees, and high-pressure sales tactics. Final Debt Relief’s new tool removes those obstacles by delivering honest, actionable insights that empower users to make informed decisions at their own pace.
“Our mission has always been to put consumers first,” said Dan. “People deserve a way to understand their options without fear or sales pressure. The Smart Savings Estimator was built to provide clarity, confidence, and convenience, all in one platform.”
Unlike basic online debt calculators, the estimator uses advanced algorithms to evaluate various inputs, including debt type and regional differences in settlement terms, providing a personalized snapshot of what debt relief could realistically achieve. The platform’s AI-driven matching system also identifies the most appropriate providers based on the user’s needs, increasing the likelihood of successful outcomes.
What sets this tool apart is the rigorous vetting process Final Debt Relief applies to every partner in its network. Providers are screened for licensing, compliance, settlement success rates, customer satisfaction, and ethical business practices. This ensures that users are only connected with reputable companies that meet the highest standards in the industry. The company continuously monitors performance to maintain this quality assurance.
Proven Results: Real People, Real Success Stories
Early feedback from beta testing has been overwhelmingly positive. Participants reported a 32% increase in confidence when deciding whether to explore debt relief after using the estimator, showing that access to reliable and customized information significantly influences decision-making. Real-world results support these findings. Take Mark, a 42-year-old father of two from Florida, who had over $32,000 in credit card debt. Using Final Debt Relief’s Smart Savings Estimator, he quickly saw potential monthly savings and connected with a provider who negotiated a lower repayment amount, helping him breathe easier within months.
In addition to supporting common types of unsecured debt, the platform is equipped to help those with student loans and mixed debt portfolios. This inclusive approach ensures that users from all walks of life can find the guidance they need to begin their journey toward financial stability.
The Smart Savings Estimator is now live and accessible online. It is completely free to use, requires no sign-up commitment, and delivers results in minutes. Users can explore their options privately and securely, gaining clarity without pressure or obligation.
To access the Smart Savings Estimator and learn more about Final Debt Relief’s services, visit https://www.finaldebtrelief.com.
About Final Debt Relief Final Debt Relief is a Wyoming-based company committed to helping Americans overcome overwhelming debt through transparent, AI-enhanced solutions. By connecting consumers with vetted debt relief providers and offering educational tools, the company empowers individuals to make confident, informed decisions about their financial futures.
Source: United States Senator for Maine Susan Collins
Washington, D.C. – U.S. Senator Susan Collins, Chair of the Appropriations Committee, announced that she secured significant funding and provisions for Maine in the Fiscal Year 2026 Defense Appropriations Act. The bill, which was officially approved by the Senate Appropriations Committee today, now awaits consideration by the full Senate and House.
The measure, which was advanced by a vote of 26-3, provides $851.9 billion in discretionary funding.
“This legislation supports the brave men and women of our armed forces as well as the hardworking Mainers at BIW, PNSY, Pratt & Whitney, and elsewhere across the state, who make invaluable contributions to our nation’s defense,” said Senator Collins. “As the Chair of the Appropriations Committee, I will continue to advance this funding as the appropriations process moves forward.”
Bill Highlights:
Pay increase: Funds a 3.8 percent pay raise for servicemembers and a 10 percent pay raise for junior enlisted personnel.
Bath Iron Works (BIW) Workforce:
$1.3 billion in advance procurement for a third FY 2027 DDG-51.
$450 million for large surface combatant shipyard infrastructure investments.
$181.5 million for cost-to-complete costs of prior year DDG-51s.
Portsmouth Naval Shipyard (PNSY) Workforce: Maintains a requirement that the Navy induct no fewer than 100 apprentices at PNSY and each of the other shipyards.
$19 billion to fund all executable ship depot maintenance operations at public and private shipyards, including $1.4 billion at PNSY.
$1.2 billion for the Navy’s Shipyard Infrastructure Optimization Program, including $24.1 million for infrastructure investments at PNSY.
$153.4 million for Virginia-class submarine spares and repair parts to assist in efficient submarine maintenance at PNSY.
Pratt & Whitney Workforce:
$280 million split equally between the Navy and the Air Force for F-135 spare parts.
$282.5 million for F-135 Engine Core Upgrade, which will upgrade the current F-35 engine for all three F-35 variants.
Bill language prohibiting the integration of any alternative engine into the F-35.
University of Maine (UMaine) Defense Research: $27.5 million for Department of Defense research that could benefit research and development efforts at UMaine, including $10 million to support the continued construction of UMaine’s flagship Additive and Hybrid Manufacturing pilot facility.
Marine Corps Investments: $44 million to support ongoing Marine Corps investments in amphibious, autonomous ground vehicle systems that enhance mobility, survivability, and operational reach in contested environments. One such platform is the Ripsaw Robotic Combat Vehicle, developed by Howe & Howe Technologies—a defense manufacturer based in Waterboro, Maine. Senator Collins has championed this cutting-edge technology as a model for the kind of innovation and industrial capability needed to strengthen the U.S. defense industrial base.
Source: United States Senator Tommy Tuberville (Alabama)
WASHINGTON – Today, U.S. Senator Tommy Tuberville (R-AL) joined U.S. Senator Jim Risch (R-ID), and 16 other Republican colleagues to introduce the Equal Shot Act. The legislation prohibits the Small Business Administration (SBA) from discriminating against firearm-related businesses.
“For years, the far left has tried to undermine Americans’ right to bear arms. Under Joe Biden, the Small Business Administration tried to cut off capital to firearm businesses in hopes of forcing them to close. That’s not acceptable for the freest country in the world. In Alabama, we respect the 2nd Amendment. We respect freedom. And we stand with the small business owners who make our communities stronger and our country safer,” said Sen. Tuberville.“I’m proud to join this fight to ensure that lawful firearm-related businesses get the same opportunities as any other small business—no more picking winners and losers based on a political agenda.As a proud gun owner, I will always fight to protect our Second Amendment rights.”
Joining Sens. Tuberville and Risch in introducing the Equal Shot Act are U.S. Sens. Mike Crapo (R-ID), Marsha Blackburn (R-TN), Ted Budd (R-NC), Shelley Moore Capito (R-WV), Bill Cassidy (R-LA), Steve Daines (R-MT), Deb Fischer (R-NE), Lindsey Graham (R-SC), Cindy Hyde-Smith (R-MS), Jim Justice (R-WV), John Kennedy (R-LA), James Lankford (R-OK), Mike Lee (R-UT), Cynthia Lummis (R-WY), Tim Scott (R-SC), and Tim Sheehy (R-MT).
Earlier this week, Sens. Tuberville and Risch also introduced the National Shooting Sports Month Resolution recognizing August as National Shooting Sports Month.
MORE:
Tuberville Fights for Second Amendment Rights
Tuberville Continues to Defend Second Amendment Rights Tuberville, Barrasso Push for Pro-Growth Tax Reductions, Lower Prices for Small Businesses
Tuberville Speaks with Trump Defense Nominees on Supporting Small Businesses and Service Academy Oversight
Tuberville, Colleagues Celebrate Small Businesses During Small Business Week
Tuberville Fights to Give Small Businesses a Tax Break
Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP and Aging Committees.
Source: United Kingdom – Executive Government & Departments 3
Press release
UK outshines global competitors as Arbitration Act comes into effect
Businesses will benefit from faster and cheaper dispute resolution as major reforms to arbitration law come into effect today.
New law comes into force today to strengthen UK’s world-leading status in arbitration
Businesses can now settle disputes faster and at less cost
Part of Government’s Plan for Change to drive new business straight into £42.6 billion legal sector
The modernisation of the Arbitration Act is set to boost the UK economy by millions while creating new employment opportunities within the legal sector.
The new law will reinforce Britain’s position as the world’s number one destination for arbitration – building on London’s status as the globally preferred location for these services over competitors like Singapore, Hong Kong and Paris.
This will attract further investment to the UK’s £42.6 billion legal services economy and create highly-skilled jobs, supporting the sector’s existing 384,000 workforce.
Minister for Courts and Legal Services, Sarah Sackman KC MP, said:
Businesses around the world already look to the UK as the gold standard in arbitration, and this new law cements our place as the global jurisdiction of choice – competing globally and keeping British companies on top.
As part of our Plan for Change, we will continue to drive new business straight into the UK to boost jobs and support economic growth.
As the largest legal services market in Europe, international arbitration represents a major growth sector for the UK economy. England and Wales handle at least 5,000 domestic and international arbitrations annually, contributing £2.5 billion in fees alone.
From today, arbitrators have the power to dismiss weak cases quickly, preventing businesses from wasting time and money on disputes with no chance of success.
The reforms also require arbitrators to declare any potential conflicts of interest upfront, ensuring fairer outcomes for businesses.
Courts have gained new powers to better support the arbitration process, while simplified procedures will cut delays and costs for all parties involved.
The Arbitration Act received Royal Assent in February and has now been fully implemented.
Cristen Bauer, Director of External Affairs, Chartered Institute of Arbitrators
As the leading professional body globally for dispute resolvers, we are delighted to see the Arbitration Act 2025 come into force. We commend the Government’s commitment to modernise the Arbitration Act and to engage in a collaborative reform process with stakeholders from across the dispute resolution ecosystem.
Ciarb is proud to have contributed to this important reform and stands ready to support the global arbitration community in harnessing the full potential of this new framework. This milestone not only strengthens arbitration in England, Wales, and Northern Ireland, but also reinforces global efforts to uphold high standards of fairness, efficiency, and integrity across the profession.
Source: United States House of Representatives – Congressman Donald Norcross (1st District of New Jersey)
WASHINGTON, DC — Today, Representatives Donald Norcross (D-NJ), Haley Stevens (D-MI), and Mike Lawler (R-NY), along with Senator Edward Markey, introduced the bipartisan, bicameral Warehouse Worker Protection Act. The bill aims to improve safety by requiring companies with large warehouses to disclose quotas to workers and prohibiting quotas that interfere with health and safety.
The Warehouse Worker Protection Act requires companies to provide written descriptions of quotas workers are subjected to, any disciplinary action that would result from failure to meet the quota, and the existence of any incentive or bonus program associated with each quota and how the quota is monitored. The bill also prohibits companies from establishing quotas that prevent a worker from complying with any meal or rest period or from using bathroom facilities.
“In 2022, three New Jersey warehouse workers tragically died on the job within weeks of each other, bringing attention to working conditions and injury rates in warehouses. Businesses can keep workers safe and earn a profit, but that’s only possible with more transparency and accountability,” said Congressman Donald Norcross (D-NJ). “As a former electrician, I know firsthand what it’s like to lose a coworker on the job. The Warehouse Worker Protection Act takes necessary steps to ensure everyone can come home from work safely.”
“Too often, the people powering our supply chains go unseen. Warehouse workers, including thousands across Michigan, are essential to keeping goods moving and our economy strong,” said Congresswoman Haley Stevens (D-MI). “That’s why I’m proud to co-lead the Warehouse Worker Protection Act, a bill that prioritizes worker safety. It establishes fair limits on productivity demands and guarantees access to basic needs like meal and restroom breaks. This legislation is about honoring the hardworking people of Michigan, and beyond, who keep our communities and businesses running every day.”
“Injury and illness rates in warehouses remain unacceptably high. While progress has been made, far too many warehouse workers are still operating in conditions that are unsafe and unsustainable,” said Congressman Mike Lawler (R-NY). “It’s time to bring greater transparency, accountability, and basic protections to the job site. I’ll continue working across the aisle on policies like the Warehouse Worker Protection Act to ensure our economy works for both employers and the hardworking Americans who keep it running.”
“Workers deserve to clock in knowing they will return home safe and healthy at the end of their shift. The Warehouse Worker Protection Act would protect the basic health and dignity of workers from corporate bosses who time and again have prioritized unfettered greed and profit over their own people,” said Senator Markey. “I am proudly in solidarity with nearly two million warehouse workers nationwide in the fight to ensure that their rights, safety, and dignity are protected.”
“Amazon and other abusive warehouse employers are squeezing their workers for every penny of profit, leaving behind tired and broken bodies,” said Teamsters General President Sean M. O’Brien. “These corporate criminals are destroying good jobs in an industry that once supported a strong middle class. But one thing stands in their way—that’s the Teamsters Union, along with a bipartisan coalition of lawmakers who understand what’s at stake. It’s time to pass the Warehouse Worker Protection Act and put workers’ safety over corporate profits.”
The Department of Labor’s Office of Inspector General audit found that injury and illness rates in warehouses are consistently high. The report found that in 2021, the injury and illness rate was 5.5 per 100 employees for warehouses, which is more than double the rate across all industries. A recent study also found that more than half of employees at Amazon and Walmart, two of America’s largest private companies, report that their production rate makes it hard for them to use the bathroom at least some of the time.
The Warehouse Worker Protection Act is endorsed by the International Brotherhood of Teamsters, the National Employment Law Project, the Athena Coalition, and Oxfam.
Bill text of the Warehouse Worker Protection Act can be found here. More information on the legislation can be found below:
Enforcement
The bill will establish a Fairness and Transparency Board within the Department of Labor to share resources and responsibilities through OSHA and Wage and Hour. It will be comprised of union and employer representatives, health experts, civil rights experts, workplace technology experts, and worker protection experts and will be charged with enforcing the guidance and rules laid out within the legislation.
Requirements with Respect to Warehouse Quotas
All workers hired will be given a written description of the following:
Each quota the worker is subject to, any disciplinary action that could result from failure to meet each quota, how performance targets for each quota are calculated, the existence of any incentive or bonus program associated with each quota and how the quota is monitored.
Each employer will have to provide updates to these quota systems to each worker no later than 2 days after any change is made.
Require workers be notified when employers take an adverse action against them for failing to meet any quota.
Employers will have to provide a training and written description for how workers can file a complaint when quota rules are violated.
An employer would not be able to take adverse action against a worker for violating any of the prohibited quotas listed above or for the completion of work based solely on the ranking and comparison with other workers.
Employers will be required to maintain work speed records for all workers, written description of all quotas and make them available to workers and the DOL upon request. Workers may request certain pieces of work data up to 3 years after employment has been ended.
Prohibited Quotas
Employers will not be able to establish quotas that would:
Prevent a worker from complying with any meal or rest period.
Prevent a worker from complying with any health or safety provision required by law.
Prevent a worker from the use of bathroom facilities, including responsible time to travel to and from said facility.
Set a performance target that measures the output for a worker that is shorter than one workday.
Include time for paid or unpaid breaks.
Prevent a worker from exercising any right already guaranteed by a collectively bargained agreement.
First Aid Standard
OSHA will be charged with establishing a proposed rule requiring all employers have trained individuals on site ready to administer first aid to workers to reduce delays in medical treatment for workers following injuries.
NEW YORK, July 31, 2025 (GLOBE NEWSWIRE) — CLEAR (NYSE: YOU), the secure identity platform, is participating in the Centers for Medicare & Medicaid Services (CMS) Health Tech Ecosystem initiative, a nationwide effort to deliver a more connected, patient-centered healthcare system.
CLEAR was proud to stand alongside government, healthcare, and technology leaders at the White House this week to support the launch of this national collaboration, and to reinforce its role as the trusted, full service Identity Assurance Level 2 (IAL2)/Authenticator Assurance Level 2 (AAL2) identity layer underpinning partner ecosystems across healthcare.
“CLEAR applauds the Administration’s commitment to accelerating the digital transformation of healthcare and is proud to be a trusted partner in this nationwide effort,” said Caryn Seidman Becker, CEO of CLEAR. “By serving as an IAL2 identity layer in healthcare ecosystems, CLEAR is helping to kill the clipboard, eliminate friction, and give patients control of their medical information in a secure, seamless way. We believe identity is the key to unlocking personalized, efficient, and patient-centered care.”
At the heart of this CMS-led effort is a push to make health data more accessible, interoperable, and actionable, empowering patients, reducing provider burden, and improving outcomes. CLEAR’s reusable identity platform for healthcare organizations and businesses, CLEAR1, is already enabling this transformation across leading platforms and health systems, including Epic, Surescripts, Wellstar, Community Health Network, University of Miami Health and b.well.
These partners are leveraging CLEAR1 for use cases such as streamlining patient onboarding and check-in, enhancing workforce security, simplifying access to medical records, and strengthening data protection. Together, these efforts demonstrate how secure, interoperable identity can reduce friction, lower costs, and enable a more connected healthcare experience.
CLEAR1 is a NIST IAL2/AAL2-compliant identity solution that gives patients and providers a reusable, privacy-centric credential to unlock services across the care journey, whether creating a MyChart account, verifying coverage, or accessing claims data.
Over 60 companies have signed on to the CMS Health Tech Ecosystem pledge, committing to advance tools that:
Help patients manage chronic conditions like diabetes and obesity
Use AI assistants to navigate symptoms and schedule care
“Kill the clipboard” by digitizing check-in and intake
Securely share data across trusted networks using modern identity credentials
“We are excited that identity services – like CLEAR – are making it possible for patients and providers to use verified, secure identity as part of CMS’s Health Tech Ecosystem,” said Amy Gleason, Acting Administrator for the U.S. DOGE Service and Strategic Advisor to the Department of Health and Human Services and the Centers for Medicare and Medicaid. “Checking in at the doctor’s office should be the same as boarding a flight. Patients should be able to scan a QR code to instantly and safely share their identity, insurance and medical history”.
“Our work with CLEAR has meaningfully improved the speed and reliability of provider identity verification across our network,” said Frank Harvey, CEO of Surescripts. “It’s a powerful example of how focused collaboration can drive real progress. This pledge builds on that momentum—demonstrating how innovators across healthcare are advancing interoperability to reduce administrative burden and refocus clinicians’ time where it matters most: patient care.”
“Identity is foundational to creating the connected, consumer-first healthcare experience that people expect, and it’s what b.well was built to deliver,” said Kristen Valdes, CEO and Founder of b.well. “Our partnership with CLEAR brings a trusted, IAL2-compliant identity layer into that experience, giving patients and caregivers a seamless, unified way to access and share their health information across providers and platforms.”
“As part of our pledge to become a CMS Aligned Network, our relationship and planned integration with CLEAR will give us a unique opportunity to bring IAL2 identity verification to providers who are newer to the interoperability space,” said Therasa Bell, President and Founder of Kno2. “That includes nurses, physical therapists, behavioral health providers, dentists, and paramedics, and it will enable them to securely communicate and share patient records across the broader healthcare ecosystem.”
“Modern identity is the key to enabling safe, secure, and trusted data exchange across healthcare,” said Aneesh Chopra, former Chief Technology Officer of the United States. “CLEAR’s work to deliver IAL2-compliant digital identity helps unlock the promise of interoperability—giving patients and providers the confidence to share information seamlessly and securely.”
CLEAR1 is already powering many of these functions across CLEAR’s health, financial services, and workforce partners—and stands ready to support the rollout of CMS-Aligned Networks in 2026 and beyond.
About CLEAR CLEAR’s mission is to strengthen security and create frictionless experiences. With over 31 million Members and a growing network of partners across the world, CLEAR’s secure identity platform is transforming the way people live, work, and travel. Whether you are traveling, at the stadium, or on your phone, CLEAR connects you to the things that make you, you – making everyday experiences easier, more secure, and friction-free. CLEAR is committed to privacy done right. Members are always in control of their own information, and we never sell Member data. For more information, visit clearme.com.
Forward-Looking Statements This release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This includes, without limitation, statements relating to CLEAR’s participation in the CMS Health Tech Ecosystem initiative. Investors are cautioned that any and such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results, developments and events may differ materially from those in the forward-looking statements as a result of various factors, including risks associated with the initiative and CLEAR’s participation therein, and those described in the Company’s filings within the Securities and Exchange Commission, including the sections titled “Risk Factors” in our Annual Report on Form 10- K. The Company disclaims any obligation to update any forward-looking statements contained herein.
SINGAPORE, Aug. 01, 2025 (GLOBE NEWSWIRE) — In Southeast Asia, where up to 90% of food loss occurs during transportation due to poor cold chain infrastructure, tackling waste within the temperature-controlled supply chain is critical. Geotab Inc. (“Geotab”), a global leader in connected vehicle and asset solutions, today announced a significant upgrade to its cold chain solution, featuring new hardware and enhanced software capabilities designed to provide businesses with more visibility, control, and compliance assurance for their temperature-sensitive shipments.
Geotab’s enhanced cold chain solution addresses the evolving market need – driven by stricter regulations and higher customer expectations – for more comprehensive, simple, and granular temperature monitoring. The relaunch introduces the advanced IOX-COLD (in-cabin) and IOX-COLD RUGGED (IP67-rated for external mounting) hardware devices. These devices offer deeper, direct integration with refrigeration units from major OEMs, simplifying installation, improving data accuracy, and reducing potential points of failure compared to solutions requiring multiple sensors.
Complementing the new hardware are several changes within the MyGeotab platform to further streamline processes:
Near Real-Time Monitoring: Gain an up-to-the-minute view of cargo conditions for proactive decision-making.
Multi-Zone Temperature Support: Ensure the integrity of multi-temperature loads with monitoring for each zone directly from the refrigeration unit – often eliminating the need for extra sensors.
Advanced Alerts & Remote Commands: Set custom temperature alerts and utilise remote command capabilities (for supported units) to take immediate corrective action.
Dynamic Historical Data: Analyse past shipment performance through interactive graphs, grids, and maps to identify trends and optimise logistics.
Improved Installation Process: An updated MyInstall tool streamlines the configuration and verification process.
“The impact of inadequate cold chain management is felt across industries, especially in regions where long distances, fragmented infrastructure and climate extremes challenge food and pharmaceutical logistics,” said David Brown, AVP APAC at Geotab. “Our cold chain solution is designed to give businesses in Asia Pacific the visibility and assurance they need to protect temperature-sensitive goods, streamline compliance, and operate more sustainably. It’s about making smarter, data-driven decisions that improve outcomes every step of the way.”
The integrated hardware and software solution supports businesses across various sectors, including food and beverage, to mitigate the risks of spoilage, help meet regulatory compliance, protect brand reputation, and gain peace of mind.
Geotab is a global leader in connected vehicle and asset solutions, helping fleets boost their efficiency and management. We use advanced data analytics and AI to transform fleet performance, safety, and sustainability, reducing costs and driving efficiency. Supported by top data scientists and engineers, we serve over 55,000 customers worldwide, processing 80 billion data points daily from more than 4.7 million vehicle subscriptions. Geotab is trusted by Fortune 500 companies, mid-sized fleets, and the biggest public sector fleets globally, including the US Federal Government. Committed to data security and privacy, we hold FIPS 140-3 and FedRAMP authorisations. Our open platform, network of excellent partners, and Marketplace deliver hundreds of ready-to-go third-party solutions for fleets. This year, we are celebrating 25 years of innovation. Find out more at https://www.geotab.com/apac, and follow us on LinkedIn.
Source: United States Senator for Kansas Roger Marshall
Senator Marshall Joins Newsmax to Discuss Trump Trade Deals and the MAHA Movement
Washington – On Thursday, U.S. Senator Roger Marshall, M.D. (R-Kansas), joined Newsmax to discuss President Trump’s trade deal winning streak, where the Canada trade deal stands following their recent stance on Gaza, and American companies joining the MAHA movement.
Click HERE or on the image above to watch Senator Marshall’s full interview.
On Trump trade deals:
“Great to be with you. Are you tired of winning yet? Another big deal in South Korea. We had a $60 billion trade deficit with them last year, so this is going to help close that gap. With 15% tariff coming in on South Korean products. Guess what this tariff is for U.S. products going in there? Well, it’s zero. But more importantly, what they’re going to remove is their non-tariff barriers and allow us to sell more energy in there. Beyond that, as you all mentioned, is that they’re going to invest in America $350 billion. I think part of this will be used on a ship fund. Right now, very few ships are made in America. I have a feeling President Trump is rallying some finances to start building ships in America again.
On how Canada’s stance on the Israel and Gaza conflict affects a potential trade deal:
“Look, I think Americans are tired of the killing in Gaza, that Israel needs to end this war one way or another. We need to stop this famine. I would just ask, and Canada is making this really complicated. They’re hamstringing President Trump. And I would ask our friends in Canada, what type of statehood are they talking about? If you look at Palestinians’ past, they’ve been a failed government. They paid no attention to water, to sewers, to schools, to the economics of their country. I’ve been over there, and it’s a disaster right now. Instead, they focused on chaos, on terrorism, so I don’t think that’s a viable solution right now. Again, I think President Trump, if anyone can solve this, I think it’s going to be President Trump. And what Canada is doing there is not very helpful for the cause.”
On American companies joining the MAHA movement:
“Yeah, I think they’re more interested in marketing than they are on making America healthy. And my favorite thing to do is to go into a Starbucks and order an iced latte with almond juice in it. I won’t buy Starbucks, it’s too expensive. But for my wife; she deserves it. When I ask them for the almond juice, they say, well, we don’t have any, and I’ll say, ‘look behind the counter,’ there it is. Oh, the almond [milk]. No, it’s almond juice. Look, I think there’s nothing healthier out there than whole milk, as far as strong nutrients as well. I’m not sure what they’re up to here. I appreciate them hopping on the bandwagon. I’m absolutely committed to making America healthy.”
Source: United States Senator Ted Budd (R-North Carolina)
Washington, D.C. — U.S. Senator Ted Budd (R-N.C.) joined Senator Tim Scott (R-S.C.) in reintroducing the Protecting Access to Credit for Small Businesses Act to protect community banks and credit unions from competing with the federal government. The bill does so by prohibiting a Biden-era rule that allows the Small Business Administration (SBA) to facilitate direct government lending.
“Time and again, the federal government has shown it is neither efficient nor effective when it comes to delivering direct loan support to small businesses. Community banks and credit unions, not Washington bureaucrats, understand the needs of the businesses they serve. It’s time we stop sidelining them. I am proud to join Senator Scott and my colleagues to put power back in the hands of local institutions that invest in our communities, rather than forcing them to compete with the federal government,”said Senator Budd.
“The SBA has a poor track record as a direct lender, especially compared to local banks that know the communities they serve. Allowing the SBA to directly offer loans is not just another example of government overreach, it would also hurt Main Street by creating unnecessary competition with community banks and credit unions. The private sector has a much stronger record of managing loans effectively, and the last thing we need is big government disrupting a system that local businesses rely on,”said Senator Scott.
Senators John Barrasso (R-Wyo.), Kevin Cramer (R-N.D.), Mike Crapo (R-Idaho), Steve Daines (R-Mont.), Cindy Hyde-Smith (R-Miss.), James Risch (R-Idaho), and Rick Scott (R-Fla.) also co-sponsored the legislation.
The bill has received support from the American Bankers Association, America’s Credit Unions, Bank Policy Institute, Carolinas Credit Union League, Consumer Bankers Association, Independent Community Bankers of America, and South Carolina Bankers Association.
Read the full bill text HERE.
BACKGROUND
President Biden’s fiscal year 2025 budget included a proposal that allows the SBA to directly make loans under the 7(a) lending program.
The SBA has a history of performing poorly in lending programs compared to the private sector.
According to the SBA Office of Inspector’s 2023 report, the government-led COVID-19 Economic Injury Disaster Loan (EIDL) program had $136 billion in potential fraud (33 percent of total funds disbursed). In contrast, the private-sector-led Paycheck Protection Program (PPP) had $64 billion (8 percent of funds disbursed).
Source: United States Senator John Kennedy (Louisiana)
WASHINGTON – Sen. John Kennedy (R-La.) joined Sen. Jim Risch (R-Idaho) and 16 colleagues in introducing the Equal Shot Act, which would prohibit the Small Business Administration (SBA) from discriminating against lawful firearm-related businesses.
“Big Government officials in Washington should never be able to punish small business owners just because they support the Second Amendment. The Equal Shot Act would protect Louisiana’s firearm businesses from out-of-control bureaucrats trying to pick winners and losers based on politics,” said Kennedy.
“The Equal Shot Act defends the Second Amendment rights of Idaho’s small business firearm industry and ensures these law-abiding Americans have fair access to resources that will help them thrive,” said Risch.
The Equal Shot Act ensures that firearm-related businesses are treated the same as any other eligible small business when applying for SBA programs without political or ideological bias.
The bill responds to reports that the SBA, under the Biden administration, used internal policies to deny financial support to lawful firearm-related businesses that help Americans exercise their Second Amendment rights.
The bill reinforces that federal agencies must remain neutral and may not withhold access to assistance programs from law-abiding businesses based on their industry.
Rep. Roger Williams (R-Texas), chairman of the House Committee on Small Business, introduced companion legislation in the U.S. House of Representatives.
“The Equal Shot Act ensures every eligible small business is treated fairly and without political bias. Under the Biden Administration, firearm-related businesses were targeted and singled out by federal agencies and financial institutions simply because of what they represent. These law-abiding job creators should not be punished for supporting the Second Amendment. I want to thank Senator Risch for his support on this important legislation. Every business on Main Street deserves the same opportunity to succeed,” said Williams.
Sens. Mike Crapo (R-Idaho), Marsha Blackburn (R-Tenn.), Ted Budd (R-N.C.), Shelley Moore Capito (R-W.Va.), Bill Cassidy (R-La.), Steve Daines (R-Mont.), Deb Fischer (R-Neb.), Lindsey Graham (R-S.C.), Cindy Hyde-Smith (R-Miss.), Jim Justice (R-W.Va.), James Lankford (R-Okla.), Mike Lee (R-Utah), Cynthia Lummis (R-Wyo.), Tim Scott (R-S.C.), Tim Sheehy (R-Mont.) and Tommy Tuberville (R-Ala.) also cosponsored the bill.
Source: United Kingdom – Executive Government & Departments
Press release
British steelmakers regain access to EU market
British steelmakers regain access to EU market
UK steel producers to regain tariff-free access to the EU market for key steel products from today [1 August].
Cuts costs and gives UK steel producers more certainty when exporting to the EU — one of our largest trading partners.
Delivers on a UK-EU Summit commitment and reinforces the Government’s Plan for Change to rebuild Britain’s industrial strength.
British steelmakers stand to make millions extra a year as the EU gets rid of its steel tariffs today [Friday 1 August] – a direct win from the Prime Minister’s EU deal signed back in May.
This means UK steelmakers will be able to export more steel used for large building projects – like support beams – to the EU tariff-free, supporting the UK’s wider economic growth ambitions and helping deliver on the Plan for Change.
This follows the decision to take control of British Steel following years of mismanagement – a decision which saved thousands of jobs and secured Britain’s place as a steelmaker. This builds on the significant support that this pro-steel Government has already delivered — from our £500 million investment in Tata’s green steel transition and our deal with the US to reduce tariffs on UK steel.
The UK steel sector supports around 40,000 jobs across 1,145 firms, with a further 61,000 jobs in related industries that supply materials and services to steel producers. These changes will enable UK steelmakers to once again export goods worth several millions of pounds annually to the EU, strengthening vital revenue streams for UK businesses.
Secretary of State for Business and Trade, Jonathan Reynolds said:
This is yet another positive step forward for the UK steel sector and a clear example of our Plan for Change in action — removing barriers, supporting jobs, and backing British industry.
Restoring our steel quota helps give producers the certainty they need to compete, grow, and maintain vital export relationships.
This builds on the significant support that this pro-steel Government has already delivered — from our £500 million investment in Tata’s green steel transition, to action to safeguard jobs at British Steel in Scunthorpe, and our deal with the US to reduce tariffs on UK steel.
The restored quota will re-establish historic trade flows between the UK and the EU, easing the administrative and financial burdens that have affected steel exporters. It will also provide much-needed certainty for UK steel operating in an increasingly volatile global market. Crucially, this change will help safeguard skilled jobs across the country and preserve long-standing supply chains with EU customers.
The country-specific quota allows the UK to export a certain amount of steel to the EU without paying an extra tariff, helping maintain fair trade and avoid sudden surges in imports. We can now export up to 27,000 tonnes of steel to the EU each quarter — that’s roughly a football stadium’s worth of steel every year.
This follows complex negotiations and demonstrates the UK Government’s ability to secure practical wins for domestic industry. It builds on a series of recent measures delivered under the Plan for Change, including a £500 million investment in greener steelmaking at Port Talbot, targeted action to reduce electricity costs and strengthen procurement rules. These steps have been complemented by enhanced trade defences designed to protect jobs and support long-term competitiveness in the sector.
EU Relations Minister Nick Thomas-Symonds said:
We have worked constructively with the EU to deliver in our national interest and achieved a bespoke agreement to help secure jobs in steel across Britain.
Today’s news that the EU is slashing tariffs on British Steel shows our approach is working and is another win for UK PLC.
Gareth Stace UK Steel said:
The restoration of the country specific quota is excellent news for UK steel companies which have been plagued by problems shipping category 17 products into the European Union.
The quota will restore historic trade flows and is good news for both UK steelmakers and their EU customers.
British Steel Chief Commercial Officer (interim) Lisa Coulson said:
The removal of EU tariffs on British-made steel is a significant boost to our business.
The EU is an important market to us, particularly for the products our highly skilled colleagues manufacture in Scunthorpe, Teesside, and Skinningrove.
We are delighted we will be able to provide the high-quality products our loyal and supportive EU customers require tariff-free and thank the UK Government for delivering this agreement.
We now look to the future with even greater optimism as we focus on building stronger futures for our customers.
This announcement reinforces the Government’s commitment to fair, open, and stable trade in key sectors — with steel being a clear example of strengthened UK-EU cooperation delivering results for British industry.
Notes to editors:
The European Commission’s decision restores the UK’s Country Specific Quota (CSQ) for Category 17 steel products from 1 August 2025.
The UK steel industry employs thousands of people in key manufacturing regions and supports critical supply chains in construction, automotive, and defence.
The UK Government will publish a comprehensive Steel Strategy later this year to support long-term competitiveness and sustainability in the sector.
class=”has-text-align-left”>By the authority vested in me as President by the Constitution and the laws of the United States of America, including the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) (IEEPA), the National Emergencies Act (50 U.S.C. 1601 et seq.), section 604 of the Trade Act of 1974, as amended (19 U.S.C. 2483), and section 301 of title 3, United States Code, I hereby determine and order:
Section 1. Background. In Executive Order 14257 of April 2, 2025 (Regulating Imports With a Reciprocal Tariff To Rectify Trade Practices That Contribute to Large and Persistent Annual United States Goods Trade Deficits), I found that conditions reflected in large and persistent annual U.S. goods trade deficits constitute an unusual and extraordinary threat to the national security and economy of the United States that has its source in whole or substantial part outside the United States. I declared a national emergency with respect to that threat, and to deal with that threat, I imposed additional ad valorem duties that I deemed necessary and appropriate.
I have received additional information and recommendations from various senior officials on, among other things, the continued lack of reciprocity in our bilateral trade relationships and the impact of foreign trading partners’ disparate tariff rates and non-tariff barriers on U.S. exports, the domestic manufacturing base, critical supply chains, and the defense industrial base. I also have received additional information and recommendations on foreign relations, economic, and national security matters, including the status of trade negotiations, efforts to retaliate against the United States for its actions to address the emergency declared in Executive Order 14257, and efforts to align with the United States on economic and national security matters.
For example, some trading partners have agreed to, or are on the verge of agreeing to, meaningful trade and security commitments with the United States, thus signaling their sincere intentions to permanently remedy the trade barriers that have contributed to the national emergency declared in Executive Order 14257, and to align with the United States on economic and national security matters. Other trading partners, despite having engaged in negotiations, have offered terms that, in my judgment, do not sufficiently address imbalances in our trading relationship or have failed to align sufficiently with the United States on economic and national-security matters. There are also some trading partners that have failed to engage in negotiations with the United States or to take adequate steps to align sufficiently with the United States on economic and national security matters.
After considering the information and recommendations that I have recently received, among other things, I have determined that it is necessary and appropriate to deal with the national emergency declared in Executive Order 14257 by imposing additional ad valorem duties on goods of certain trading partners at the rates set forth in Annex I to this order, subject to all applicable exceptions set forth in Executive Order 14257, as amended, in lieu of the additional ad valorem duties previously imposed on goods of such trading partners in Executive Order 14257, as amended.
Sec. 2. Tariff Modifications. (a) The Harmonized Tariff Schedule of the United States (HTSUS) shall be modified as provided in Annex II to this order. These modifications shall be effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time 7 days after the date of this order, except that goods loaded onto a vessel at the port of loading and in transit on the final mode of transit before 12:01 a.m. eastern daylight time 7 days after the date of this order, and entered for consumption, or withdrawn from warehouse for consumption, before 12:01 a.m. eastern daylight time on October 5, 2025, shall not be subject to such additional duty and shall instead remain subject to the additional ad valorem duties previously imposed in Executive Order 14257, as amended.
(b) Certain foreign trading partners identified in Annex I to this order have agreed to, or are on the verge of concluding, meaningful trade and security agreements with the United States. Goods of those trading partners will remain subject to the additional ad valorem duties provided in Annex I to this order until such time as those agreements are concluded, and I issue subsequent orders memorializing the terms of those agreements.
(c) As provided in Annex I to this order, the additional ad valorem rate of duty applicable to any good of the European Union is determined by the good’s current ad valorem (or ad valorem equivalent) rate of duty under column 1 (General) of the HTSUS (“Column 1 Duty Rate”). For a good of the European Union with a Column 1 Duty Rate that is less than 15 percent, the sum of its Column 1 Duty Rate and the additional ad valorem rate of duty pursuant to this order shall be 15 percent. For a good of the European Union with a Column 1 Duty Rate that is at least 15 percent, the additional ad valorem rate of duty pursuant to this order shall be zero.
(d) Goods of any foreign trading partner that is not listed in Annex I to this order will be subject to an additional ad valorem rate of duty of 10 percent pursuant to the terms of Executive Order 14257, as amended, unless otherwise expressly provided. This rate shall be effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time 7 days after the date of this order.
(e) The HTSUS shall also be modified by continuing to suspend headings 9903.01.43 through 9903.01.62 and 9903.01.64 through 9903.01.76, and subdivisions (v)(xiii)(1)–(9) and (11)‑(57) of U.S. note 2 to subchapter III of chapter 99 of the HTSUS, until the effective date of the modifications provided in Annex II to this order. Upon the effective date of the modifications provided in Annex II to this order, to facilitate implementation of the rates of duty provided in Annex I to this order, headings 9903.01.43 through 9903.01.62 and 9903.01.64 through 9903.01.76, which are organized by rate of duty, and subdivisions (v)(xiii) (1)-(9) and (11)-(57) of U.S. note 2 to subchapter III of chapter 99 of the HTSUS shall be terminated as to future entries and replaced by the new trading partner-specific headings provided in Annex II to this order.
(f) Excluding the changes set forth in subsections (a) through (d) of this section, the terms of Executive Order 14257, as amended, shall continue to apply.
(g) Nothing in this order shall be construed to alter or otherwise affect Executive Order 14298 of May 12, 2025 (Modifying Reciprocal Tariff Rates To Reflect Discussions With the People’s Republic of China).
(h) The Secretary of Commerce and the United States Trade Representative, in consultation with the Secretary of Homeland Security, acting through the Commissioner of U.S. Customs and Border Protection (CBP), and the Chair of the United States International Trade Commission, shall determine whether any additional modifications to the HTSUS are necessary to effectuate this order and may make such modifications through notice in the Federal Register.
Sec. 3. Transshipment. (a) An article determined by CBP to have been transshipped to evade applicable duties under section 2 of this order shall be subject to (i) an additional ad valorem rate of duty of 40 percent, in lieu of the additional ad valorem rate of duty applicable under section 2 of this order to goods of the country of origin, (ii) any other applicable or appropriate fine or penalty, including those assessed under 19 U.S.C. 1592, and (iii) any other United States duties, fees, taxes, exactions, or charges applicable to goods of the country of origin. CBP shall not allow, consistent with applicable law, for mitigation or remission of the penalties assessed on imports found to be transshipped to evade applicable duties.
(b) The Secretary of Commerce and the Secretary of Homeland Security, acting through the Commissioner of CBP, in consultation with the United States Trade Representative, shall publish every 6 months a list of countries and specific facilities used in circumvention schemes, to inform public procurement, national security reviews, and commercial due diligence.
Sec. 4. Implementation. The Secretary of Commerce, the Secretary of Homeland Security, and the United States Trade Representative, as applicable, in consultation with the Secretary of State, the Secretary of the Treasury, the Assistant to the President for Economic Policy, the Assistant to the President and Senior Counselor for Trade and Manufacturing, the Assistant to the President for National Security Affairs, and the Chair of the International Trade Commission, are directed and authorized to take all necessary actions to implement and effectuate this order, consistent with applicable law, including through temporary suspension or amendment of regulations or notices in the Federal Register and by adopting rules, regulations, or guidance, and to employ all powers granted to the President by IEEPA, as may be necessary to implement this order. Each executive department and agency shall take all appropriate measures within its authority to implement this order.
Sec. 5. Monitoring and Recommendations. (a) The Secretary of Commerce and the United States Trade Representative shall monitor the circumstances involving the emergency declared in Executive Order 14257 and shall regularly consult on such circumstances with any senior official they deem appropriate. The Secretary of Commerce and the United States Trade Representative shall inform me of any circumstance that, in their opinion, might indicate the need for further action by the President. The Secretary of Commerce and the United States Trade Representative shall also inform me of any circumstance that, in their opinion, might indicate that a foreign trading partner has taken adequate steps to address the emergency declared in Executive Order 14257.
(b) The Secretary of Commerce and the United States Trade Representative, in consultation with any senior official they deem appropriate, shall recommend to me any necessary additional action if this action is not effective in resolving the emergency declared in Executive Order 14257.
(c) The Secretary of Commerce and the United States Trade Representative, in coordination with the appropriate senior officials, shall recommend additional action, if necessary, should a foreign trading partner fail to take adequate steps to address the emergency declared in Executive Order 14257 or should a foreign trading partner retaliate against the United States in response to the actions taken to address the emergency declared in Executive Order 14257 or any subsequent order issued to address that emergency.
Sec. 6. Severability. If any provision of this order, or the application of any provision of this order to any individual or circumstance, is held to be invalid, the remainder of this order and the application of its provisions to any other individuals or circumstances shall not be affected.
Sec. 7. General Provisions. (a) Nothing in this order shall be construed to impair or otherwise affect:
(i) the authority granted by law to an executive department or agency, or the head thereof; or
(ii) the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.
(b) This order shall be implemented consistent with applicable law and subject to the availability of appropriations.
(c) This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.
(d) The costs for publication of this order shall be borne by the Office of the United States Trade Representative.
DONALD J. TRUMP
THE WHITE HOUSE,
July 31, 2025.
ANNEX I
Countries and Territories
Reciprocal Tariff, Adjusted
Afghanistan
15%
Algeria
30%
Angola
15%
Bangladesh
20%
Bolivia
15%
Bosnia and Herzegovina
30%
Botswana
15%
Brazil
10%
Brunei
25%
Cambodia
19%
Cameroon
15%
Chad
15%
Costa Rica
15%
Côte d`Ivoire
15%
Democratic Republic of the Congo
15%
Ecuador
15%
Equatorial Guinea
15%
European Union: Goods with Column 1 Duty Rate[1] > 15%
0%
European Union: Goods with Column 1 Duty Rate < 15%
15% minus Column 1 Duty Rate
Falkland Islands
10%
Fiji
15%
Ghana
15%
Guyana
15%
Iceland
15%
India
25%
Indonesia
19%
Iraq
35%
Israel
15%
Japan
15%
Jordan
15%
Kazakhstan
25%
Laos
40%
Lesotho
15%
Libya
30%
Liechtenstein
15%
Madagascar
15%
Malawi
15%
Malaysia
19%
Mauritius
15%
Moldova
25%
Mozambique
15%
Myanmar (Burma)
40%
Namibia
15%
Nauru
15%
New Zealand
15%
Nicaragua
18%
Nigeria
15%
North Macedonia
15%
Norway
15%
Pakistan
19%
Papua New Guinea
15%
Philippines
19%
Serbia
35%
South Africa
30%
South Korea
15%
Sri Lanka
20%
Switzerland
39%
Syria
41%
Taiwan
20%
Thailand
19%
Trinidad and Tobago
15%
Tunisia
25%
Turkey
15%
Uganda
15%
United Kingdom
10%
Vanuatu
15%
Venezuela
15%
Vietnam
20%
Zambia
15%
Zimbabwe
15%
[1] For purposes of this Executive Order and its Annexes, “Column 1 Duty Rate” means the ad valorem (or ad valorem equivalent) rate of duty under column 1-General of the Harmonized Tariff Schedule of the United States (HTSUS).
ANNEX II
Effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time 7 days after the date of the executive order, excluding the day the executive order is signed, subchapter III of chapter 99 of the Harmonized Tariff Schedule of the United States (HTSUS) is modified as follows:
Heading 9903.01.25 of the HTSUS shall be amended by deleting the article description and by inserting “Articles the product of any country, except for products described in headings 9903.01.26–9903.01.33, 9903.02.02–9903.02.71, and 9903.96.01, and except as provided for in headings 9903.01.34 and 9903.02.01, as provided for in subdivision (v) of U.S. note 2 to this subchapter . . . . . . .” in lieu thereof; and
Headings 9903.01.43–9903.01.62 and 9903.01.64–9903.01.76 and corresponding subdivisions (v)(xiii)(1)–(9) and (11)–(57) of U.S. note 2 to subchapter III of chapter 99 of the HTSUS are hereby terminated as to any future entries.
Subdivision (v) of U.S. note 2 to subchapter III of chapter 99 of the HTSUS shall be amended by:
Deleting “and 9903.01.43–9903.01.76” each place that it appears and inserting “9903.01.63, and 9903.02.01–9903.02.71” in lieu thereof;
Inserting the following new subdivision in numerical sequence at the end of subdivision (v) of U.S. note 2:
“As provided in headings 9903.02.19 and 9903.02.20, for any good of the European Union subject to a specific or compound rate of duty under column 1-General, the ad valorem equivalent rate of duty of such good shall be determined by dividing the amount of duty payable under column 1-General by the customs value of the good. For example, if a good were subject to a specific duty of 50 cents per kilogram, and one kilogram of the good were entered with a customs value of $10, then the ad valorem equivalent rate of duty would be obtained by dividing 50 cents by $10, yielding 5 percent.”
The following new headings shall be inserted in numerical sequence, with the material in the new heading inserted in the columns of the HTSUS labeled “Heading/Subheading”, “Article Description”, “Rates of Duty 1-General”, “Rates of Duty 1-Special”, and “Rates of Duty 2”, respectively:
CALGARY, Alberta, July 31, 2025 (GLOBE NEWSWIRE) — Acceleware® Ltd. (“Acceleware” or the “Company”) (TSX-V: AXE), a leading innovator of cutting-edge radio frequency (“RF”) power-to-heat technologies targeting process heat for critical minerals, amine regeneration (for carbon capture and other applications), and enhanced oil production, announces that the Company closed the first tranche of the non-brokered private placement of units (the “Units”) that it previously announced on June 30, 2025 (the “Private Placement”) and distributed a total of 7,913,342 Units, at a price of $0.10 per Unit, for total gross proceeds of $791,334.20. It is anticipated that one or more subsequent tranches of the Private Placement will be closed in due course.
Each Unit consists of one common share of the Company (a “Common Share”) and one common share purchase warrant of the Company (a “Warrant”). Each Warrant entitles the holder of the Warrant to acquire one Common Share, at an exercise price of $0.20, which will expire which will expire 24 months from the date of issuance. If the Common Shares trade at a closing price at or greater than $0.30 per Common Share for a period of thirty (30) consecutive trading days, Acceleware may accelerate the expiry date of the Warrants by giving notice to the holders thereof, and in such case, the Warrants will expire on the 30th day after the date on which such notice is given by Acceleware.
The Common Shares issued in connection with the Private Placement, the Warrants, and any Common Shares issued upon exercise of the Warrants will be subject to a four-month hold period which will expire on December 2, 2025 in accordance with applicable securities legislation. There were no finders’ fees or commissions paid in connection with the Private Placement.
The Company expects to use the proceeds of the Private Placement to fund a portion of the Company’s RF XL 2.0 redeployment plan, to advance commercialization of new RF heating applications, including critical minerals applications and amine regeneration applications including carbon capture, and for general corporate purposes.
Insiders of the Company purchased a total of 1,300,000 Units under the Private Placement, which is considered a related party transaction within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Acceleware relied on the exemptions from the formal valuation and minority approval requirements of MI 61-101 based on a determination that the fair market value of the Private Placement does not exceed 25% of the market capitalization of the Company. No new insiders and no control persons were created in connection with the Private Placement.
About Acceleware
Acceleware is an advanced electromagnetic heating company with cutting-edge RF power-to-heat solutions for large industrial applications. The Company’s technologies provide an opportunity to electrify and decarbonize industrial process heat applications while reducing costs.
The Company is working to use its patented and field proven Clean Tech Inverter to materially improve the efficiency of amine regeneration, and has partnered with a consortium of world-class potash partners seeking to decarbonize drying of potash ore and other critical minerals. Acceleware is actively developing other process heat applications and partnerships for RF heating.
Acceleware’s RF XL is a patented low-cost, low-carbon RF thermal enhanced oil production technology for heavy oil that is materially different from any enhanced recovery technique used today.
Acceleware is a public company listed on the TSXV under the trading symbol “AXE”.
Cautionary Statements
This news release contains forward-looking statements and/or forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities laws. When used in this release, such words as “will”, “anticipates”, “believes”, “intends”, “expects” and similar expressions, as they relate to Acceleware, or its management, are intended to identify such forward-looking statements. Such forward-looking statements reflect the current views of Acceleware with respect to future events, and are subject to certain risks, uncertainties and assumptions. Many factors could cause Acceleware’s actual results, performance or achievements to be materially different from any expected future results, performance or achievement that may be expressed or implied by such forward-looking statements. Certain information and statements contained in this news release constitute forward-looking statements, which reflects Acceleware’s current expectations regarding future events, including, but not limited to the use of proceeds under the Private Placement; the anticipated completion of any additional tranches of the Private Placement; the receipt of applicable approvals and exemptions (including the Company’s board of directors, shareholders, and regulatory approvals including approval of the TSXV) relating to any additional tranches of the Private Placement, the statutory hold periods applicable to the Units and; the anticipated participation by insiders in the Private Placement.
Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the availability of investment capital and other funding; receipt of necessary approvals; availability of financing for technology and project development; uncertainties and risks with respect to developing and adopting new technologies; general business, economic, competitive, political and social uncertainties; change in demand for technologies to be offered by the Company; obtaining required approvals of regulatory authorities and/or shareholders, as applicable; ability to access sufficient capital from internal and external sources. For a more fulsome list of risk factors please see the Company’s December 31, 2024, year-end Management Discussion and Analysis (“MD&A”) available on SEDAR+ atwww.sedarplus.ca.
Management of the Company has included the above summary of assumptions and risks related to forward-looking statements provided in this release to provide shareholders with a more complete perspective on the Company’s current and future operations and such information may not be appropriate for other purposes. The Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements included in this news release should not be read as guarantees of future performance or results. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For more information:
Geoff Clark Tel: +1 (403) 249-9099 geoff.clark@acceleware.com
ST. LOUIS, July 31, 2025– More than 3,200 IAM Union District 837 members at Boeing in the St. Louis area will vote on a modified offer from the company on Sunday, Aug. 3 beginning at 10 a.m. CT. A strike would begin at midnight on Monday, Aug. 4 if the modified offer is rejected.
Changes in Boeing’s modified offer:
Alternative Workweek Schedule (AWS) Proposal Withdrawn: Current contractual overtime policies remain unchanged.
Pay Enhancements: Added an annual 50 cent per hour additive for employees at max.
Retirement: Full $10 pension multiplier increase in Year 1, instead of $5 each in Years 2 and 3 for pension-eligible members. You must retire after January 1, 2026 to receive the $10.
The modified offer does not change proposed 20% wage increases, the $5,000 ratification bonus, vacation or sick leave, or healthcare.
This vote follows members’overwhelming rejectionof Boeing’s earlier proposal on Sunday, July 27.
The IAM Union (International Association of Machinists and Aerospace Workers) is one of North America’s largest and most diverse industrial trade unions, representing approximately 600,000 active and retired members in the aerospace, defense, airlines, shipbuilding, railroad, transit, healthcare, automotive, and other industries across the United States and Canada.
goIAM.org|@IAM_Union
The post IAM Union District 837 Members at Boeing Defense in St. Louis to Vote on Modified Contract Offer appeared first on IAM Union.
WASHINGTON, D.C. – U.S. Senate Commerce Committee Chairman Ted Cruz (R-Texas) and Ranking Member Maria Cantwell (D-Wash.) reintroduced the NOAA Weather Radio Modernization Act, which would modernize weather radio equipment to enhance the reliability of emergency communications during severe weather and bolster the nationwide accessibility of critical warnings.
The legislation expands coverage for areas with poor or no cellular service, amplifies non-weather emergency messages, and provides additional transmitters for areas with weak or nonexistent cell service and broadband coverage. Additionally, the NOAA Weather Radio Modernization Act directs the National Institute of Standards and Technology (NIST) to develop standards for flash flood emergency alert systems within the 100-year floodplain. This will enhance emergency preparedness for communities without mobile broadband access, state and local emergency warning systems, or satellite coverage.
Sen. Cruz said, “The flooding in Central Texas has been absolutely heartbreaking, and we continue to lift up all those affected in prayer. Texans are strong and resourceful, but when disaster is about to strike, there has to be multiple, reliable ways to notify those who are in harm’s way. While the Hill Country flood investigation continues, we do know that some people did not receive the warnings because of a lack of cell phone coverage. I am grateful to join Ranking Member Cantwell in introducing this legislation to modernize early warning systems and ensure that every American, especially those in areas with poor or no cellular service, aren’t kept in the dark when it matters the most. This legislation is about protecting our communities and saving lives, and I urge Congress to pass it quickly.”
Sen. Cantwell said, “NOAA Weather Radio is our nation’s weather infrastructure that broadcasts 24/7 to keep people informed with immediate, reliable weather information, including timely weather alerts. This bill helps to upgrade the system with the best technology and communications systems, replacing copper with fiber to reach more people, especially in rural areas. It also directs NIST to develop standards for better warning technology and makes sure NOAA keeps its weather scientist and forecast jobs fully staffed.”
The NOAA Weather Radio Act is cosponsored by Sens. Dan Sullivan (R-Alaska), Brian Schatz (D-Hawaii), Jerry Moran (R–Kan.), and Gary Peters (D-Mich.).
Sen. Schatz said, “The Weather Radio Network’s ability to broadcast emergency warnings across remote areas, even when power or cell networks fail, is essential to protecting lives in Hawai‘i. This bill will help modernize the system so that communities in Hawai‘i and across the country have access to reliable, timely, and accurate emergency information.”
Sen. Moran said, “Recent severe weather across the country is a grave reminder of the need for a modernized emergency weather alert system. This legislation would improve alert systems in rural parts of the country with limited access to mobile broadband service, emergency warning systems or satellite coverage. It incorporates part of my legislation, the FORECAST Act, to protect critical National Weather Service employees from federal hiring freezes. It is essential that weather forecasting offices in every corner of the nation remain staffed so Kansans and all Americans have access to accurate, life-saving, 24/7 forecasting coverage.”
Read the full text of the bill here.
BACKGROUND
The National Oceanic and Atmospheric Administration (NOAA) maintains a network of over 750 NOAA Weather Radio (NWR) stations, which includes more than 1000 transmitters covering all 50 states and the U.S. territories. NWR broadcasts weather information, including emergency weather alerts and local hazard information from the nearest National Weather Service office, playing a critical role in protecting lives and property. Local news stations often urge citizens to incorporate NWR as part of their emergency preparedness plan during severe weather.
When disaster strikes, every second counts. Although the public often relies on cell phones, computers, and cable service to receive hazard warnings and communication, radio is often the primary source of information in rural and remote regions of the country where cell and internet service are lacking. Americans can buy NOAA Weather Radios for as little as $10. Even in urban areas with cell coverage, power outages triggered by severe weather events, such as a thunderstorm or a tornado, can disrupt cell and internet communications, making radio one of the few reliable options.
Sens. Cantwell and Cruz previously introduced this bill in May 2023, and it advanced out of the Senate in December 2023.
Source: United States House of Representatives – Congresswoman Suzan DelBene (1st District of Washington)
Today, Congresswoman Suzan DelBene (WA-01) released the following statement on President Trump’s global tariffs, which are set to take effect on August 1.
“Americans have made it crystal clear that lowering prices is their top concern. President Trump and Congressional Republicans continue to break their promise to address the affordability crisis in our country and instead are focused on giving massive handouts to billionaires that are paid for by families who work hard every day.
“Regardless of how many of Trump’s tariffs go into effect tomorrow, the on-again, off-again whiplash makes it harder for small businesses to manufacture and sell products and for families to afford necessities like groceries, prescription drugs, and energy bills. Businesses cannot grow this way and families cannot get ahead. Every day, Republicans’ continued silence is costing their constituents.”
SANDY, Utah, July 31, 2025 (GLOBE NEWSWIRE) — Mountain America Credit Union, in partnership with Utah First Lady Abby Cox’s Show Up for Teachers initiative, announced the 40 recipients of the inaugural Show Up for Teachers Grants. Each educator has been awarded a $1,000 grant through the Mountain America Foundation to promote creativity in the classroom and foster engaging learning environments.
Recipients were chosen from a competitive pool of applicants across the state and selected for their innovation, commitment to education, and impact on their students and communities. Grant proposals included initiatives such as STEM enrichment tools, inclusive reading materials, and technology upgrades to better meet student needs.
“Connecting with these educators at the Show Up for Teachers Conference was a powerful reminder of the passion and innovation they bring to their classrooms,” said Sharlene Wells, senior vice president of public relations and organizational communications at Mountain America. “It was a privilege to honor 40 extraordinary teachers whose grant submissions reflected thoughtful strategy and genuine commitment. We’re proud to champion their efforts to enrich student learning and make a lasting impact across Utah.”
The grant recipients were celebrated at the Show Up for Teachers Conference on July 10, 2025, at the Mountain America Expo Center. During a special presentation, First Lady Abby Cox joined Mountain America CEO and president Sterling Nielsen honoring the winners for their dedication and passion.
In addition to the $1,000 grant, each educator also received a blanket generously donated by Minky Couture as a token of appreciation for their tireless work and lasting impact in the classroom.
The Show Up for Teachers Conference welcomed more than 2,000 educators from across Utah for a day of professional development, networking, and support. Mountain America representatives engaged with teachers through interactive activities and promotional resources.
To view a full list of grant recipients, visit macu.com/showup.
To learn more about Mountain America’s community involvement, visit macu.com/newsroom.
About Mountain America Credit Union With more than 1 million members and $20 billion in assets, Mountain America Credit Union helps its members define and achieve their financial dreams. Mountain America provides consumers and businesses with a variety of convenient, flexible products and services, as well as sound, timely advice. Members enjoy access to secure, cutting-edge mobile banking technology, over 100 branches across multiple states, and more than 50,000 surcharge-free ATMs. Mountain America—guiding you forward. Learn more at macu.com.
Among the 138 recommendations of the Abuse in Care Royal Commission of Inquiry’s final report to parliament was a clear call: remove the legal time limits that prevent survivors of historic abuse from seeking justice in civil court.
Without that reform, survivors of historic abuse remain vulnerable to being turned away by the legal system – not because their experiences aren’t credible, but because the law still treats them as being out of time.
The royal commission heard from thousands of survivors of childhood abuse in the care of state and faith-based institutions between 1950 and 1999. What stood out was how often that harm was made worse by silence, disbelief and legal systems that failed to respond.
Limitation periods in abuse cases
Under New Zealand law, people generally have six years from the time a harm occurs to bring a civil claim. That limit is set out in the Limitation Act 2010 for events after 2011, and in the Limitation Act 1950 for events before that.
For survivors of historic abuse, particularly childhood abuse, that six-year window rarely reflects how trauma actually works. Survivors often take decades to feel sufficiently safe and supported to come forward and name what happened to them.
The 1950 law allowed limitation periods to be paused if a claimant was under a “disability” – a legal term meaning they were either a child or, in the language of the time, of “unsound mind”. In practice, this meant the six-year clock usually didn’t start for children until they reached adulthood.
The 2010 law clarified this by explicitly saying the limitation period for children begins at 18. It also introduced a new “incapacitated” exception, allowing the clock to pause for adults who are unable to make decisions or take legal action because of trauma or other conditions.
But in practice it’s a narrow doorway. Courts require survivors to prove not just trauma, but a high legal incapacity threshold.
This means that even when the abuse is acknowledged, and even when survivors have strong evidence, civil cases are often barred. The bar is not that the harm didn’t happen, but that it happened “too long ago”.
How civil time limits deny justice
In 2019, former Air Force servicewoman Mariya Taylor brought a civil claim against the sergeant who had sexually abused her in the 1980s while both were stationed at the Whenuapai base.
The court accepted the abuse had occurred. But because Taylor was not legally considered “disabled” by trauma, and the six-year window had closed, her case was struck out under the Limitation Act 1950. Adding insult to injury, she was ordered to pay costs to her abuser.
At 18, Taylor had entered a rigid military hierarchy where power and discipline made reporting abuse nearly impossible.
Her case shows how limitation periods can block even well-evidenced claims, and how institutional dynamics such as silence, shame and obedience often delay disclosure.
These same patterns were pivotal to the royal commission’s findings.
Survivors can now bring civil claims regardless of how long ago the abuse occurred. In landmark case in 2023, GLJ v. The Trustees of the Roman Catholic Church for the Diocese of Lismore, the High Court of Australia rejected a request to shut down proceedings even though the alleged abuser and other witnesses had died. The court said the case could still go ahead using available evidence.
The GLJ decision is important for New Zealand courts. It shows that while removing time bars doesn’t guarantee victory for survivors, it does give them the chance to be heard.
Delayed but not denied
Removing time limits for civil claims involving historic abuse, as the royal commission recommended, is now overdue.
A first step would be for the government to clearly commit to amending the Limitation Act 2010 to exclude claims of historic abuse – especially child sexual abuse – from the six-year deadline.
This would bring New Zealand into line with Australia and recognise what we now know about the delayed nature of disclosure, trauma and institutional silence. It would also honour the spirit of the royal commission’s work.
As courts and commissions have recognised, removing limitation periods doesn’t guarantee a win for survivors. But it does mean they’re at least allowed to try.
For years, survivors have been told they’ve spoken too late. Reforming limitation laws won’t undo the harm they suffered. But it will show their testimony matters, and that justice delayed does not have to mean justice denied.
Zoë Prebble does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Following the news that the US will impose 25% tariffs on all Indian imports starting from 1 August 2025.
Ramnivas Mundada, Director of Economic Research and Companies at GlobalData, a leading data and analytics company, offers his view:
“These significant tariffs, coupled with penalties linked to India’s dealings with Russian energy and military supplies, pose serious challenges for key export sectors, including electronics, pharmaceuticals, automobiles, and textiles. Compounding these issues, six Indian companies have recently been sanctioned by the US Department of State for engaging in petroleum trade with Iran. Against this backdrop, GlobalData has revised its 2025 economic growth forecast for India from 6.6% in March 2025 to 6.5% in July 2025.
“The Indian stock market initially reacted sharply to the trade tariff announcement, with the Nifty50 falling below 24,700—down 189 points—and the BSE Sensex dropping 600 points in early trading on July 31, 2025. The MSCI India Index also recorded its weakest monthly performance since February, reflecting heightened investor concerns around trade tensions and export sector exposure. However, market sentiment has since steadied, suggesting that investors have largely absorbed the initial shock and are now recalibrating expectations considering the evolving trade landscape.
“The rupee also weakened significantly in response to the tariff announcement, experiencing its largest one-day decline since May 2025 and falling past the 87 level against the US dollar on 30 July 2025.
“According to ITC Trade Map data, exports of electrical machinery and equipment, gems and jewelry, pharmaceuticals, machinery and mechanical appliances, and mineral fuels collectively represented over 51% of India’s exports to the US in 2024. Additionally, the possibility of manufacturing operations relocating to other Asian countries with lower tariffs poses a significant threat to India’s standing as a manufacturing hub.
“In conclusion, the ongoing stalemate in trade negotiations between the US and India underscores the complexities of their relationship. With the US justifying tariffs due to India’s high trade barriers and procurement of Russian goods, both nations face significant challenges ahead. As a US delegation prepares to visit India on 25 August 2025, for the sixth round of talks, achieving a mutually beneficial agreement is crucial for fostering stronger ties and ensuring the resilience of the Indian economy in an evolving global landscape.”
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Nairobi, Kenya – [31 July 2025] – Shelter Afrique Development Bank (ShafDB) has announced the signing of a strategic agreement with the Arab Bank for Economic Development in Africa (BADEA) to support its transformative capital increase initiative.
Effectively, BADEA has approved a landmark USD 120 million to support the capitalization program of Shelter Afrique Development Bank, the leading Pan-African institution focused on affordable housing and urban development. The concessional financing facility will help eligible member states settle and increase their capital subscriptions to ShafDB.
This initiative, developed in partnership with the Arab Bank for Economic Development in Africa (BADEA), introduces an innovative financing mechanism through which eligible member states can access on-lending at competitive terms. The BADEA-supported facility, totaling USD 120 million, will be used to settle and boost member states’ capital subscriptions to Shelter Afrique Development Bank (ShafDB).
“This agreement with BADEA marks a critical step in strengthening our capital base and advancing our mission of financing affordable housing and sustainable urban infrastructure across Africa,” said Thierno Habib-Hann, Managing Director of Shelter Afrique Development Bank. “We are grateful to BADEA for its strong partnership and unwavering support in this pivotal phase of our institutional evolution.”
The new capital increase program includes an initial equal allocation to all member states, followed by a phased reallocation, first on a pro-rata basis, and then on a first-come, first-served basis. This approach aims to encourage active participation by member states and to strengthen ShafDB’s capital adequacy in a balanced and transparent manner.
Commenting on the program, the president of BADEA H.E. Abdullah KH ALMUSAIBEEH, “We see this capital program as a strategic milestone in Shelter Afrique Development Bank’s evolution. BADEA is proud to back this initiative and we remain committed to our shared mission of enabling access to decent housing and inclusive urban development across Africa.”
The need to enhance equity capital has become critical following the institution’s transformation into a Development Bank, a milestone formally approved by Shelter Afrique’s shareholders during the Extraordinary General Meeting (EGM) held in Algiers, Algeria, in October 2023.
Building on this transformation, a significant achievement was realized during the Annual General Meeting in June 2024 in Kigali, Rwanda, where shareholders demonstrated strong leadership by endorsing a transformative capital increase program, and the board approved in December 2024 a capital increase of over a USD 200 million.
“Expanding capital base will enable the Bank to scale up financing along the housing value chain, access more competitive funding from international and African capital markets, and reinforce its role in addressing the housing deficit and driving inclusive urban development across its 44 member states,” Mr. Hann said.
Increased leverage
The capital increase program has been designed to significantly strengthen ShafDB’s balance sheet over the medium-term, expand its shareholder capital base, and to significantly mobilize debts. The capital raised will also support the Bank’s plans to attain investment-grade credit ratings, attract new institutional investors, and expand its lending and technical assistance programs in member countries.
About Shelter Afrique Development Bank:
Established in 1981 in Lusaka, Zambia, Shelter Afrique Development Bank (ShafDB) is a Pan-African Multilateral Development Bank (MDB) dedicated to promoting and financing sustainable green housing, urban development and related infrastructure. It operates through a shareholding of 44 African governments and two institutional shareholders: African Development Bank (AfDB) and African Reinsurance Corporation (Africa-Re). https://shelterafrique.org/en/about/membership
The institution is involved in financing housing and related infrastructure across the value chain, both on the demand and supply sides, through its four (4) business lines: Financial Institutions Group (FIG), the Project Finance Group (PFG), the Sovereign and Public-Private partnerships (PPP) Group, and the Fund Management Group (FMG).
About the Arab Bank for Economic Development in Africa (BADEA):
The Arab Bank for Economic Development in Africa (BADEA) is a multilateral financial institution established in 1974 by the Arab League. BADEA aims to strengthen economic, financial, and technical cooperation between Arab and African regions by financing development projects and supporting capacity building. https://www.badea.org/
Carsten Spohr, Chairman of the Executive Board and CEO of Deutsche Lufthansa AG: “The Lufthansa Group remains on course. Although the second quarter was again marked by geopolitical crises and economic uncertainties, we are today confirming our positive outlook for the full year. However, 2025 will remain a year of transformation for us, as delays in aircraft deliveries, certifications, and engine overhauls continue. The disproportionate burden on European airlines due to unilateral EU regulations also continues to put us at a disadvantage in global competition.
In this challenging environment, we were able to increase our operating result by almost a third in the second quarter and double the Lufthansa Group result. The basis for this economic success is and remains the regained operational stability of our airlines. Thanks to the tremendous commitment of our employees on board and on the ground, we are now able to report positive operating results for the first six months of the year. Our core brand achieved its best stability and punctuality figures since 2016. This not only significantly improved customer satisfaction but also had a noticeable impact on earnings due to lower compensation payments.
Lufthansa Cargo and Lufthansa Technik once again demonstrated their global leading performance in the first half of 2025. It is also encouraging that our investment in ITA Airways is already contributing to the Group’s financial success.
We are continuing our necessary efforts to increase efficiency, productivity, and profitability, particularly in the turnaround of our core brand, in order to expand our position as the world’s largest airline group outside the US.”
Results
In the second quarter of 2025, the Lufthansa Group increased its revenue by three percent year-on-year to 10.3 billion euros (previous year: 10.0 billion euros). The Lufthansa Group generated an operating profit (Adjusted EBIT) of 871 million euros (previous year: 686 million euros). The improvement in earnings was mainly due to the four percent expansion of the flight program in the passenger business, a positive result from the investment in ITA Airways of 91 million euros, partly due to currency effects, and the doubling of the operating result of the logistics business segment compared to the previous year. As a result, the operating margin increased by 1.5 percentage points year-on-year in the second quarter. The Group net result was 1.01 billion euros, more than double the previous year’s figure (469 million euros). This disproportionate increase was due to extraordinary tax effects and currency effects.
Passenger numbers and traffic development
In the first half of the year, more than 61 million passengers flew with the airlines of the Lufthansa Group, an increase of two percent compared with 2024. In the second quarter alone, the airlines welcomed around 37 million passengers (previous year: 35.9 million) on board. Despite a four percent increase in seat capacity, the load factor remained stable compared with the previous year at 82 percent.
The passenger airlines’ revenue per available seat kilometer (RASK) declined slightly by 0.9 percent in the second quarter compared with 2024 after adjusting for currency effects. This was primarily due to lower average prices in the European business as a result of intensifying competition. In contrast, average revenues from intercontinental traffic remained stable despite a market-wide expansion of capacity. Unit costs (CASK) excluding fuel and emissions expenses rose by 4.1 percent compared with the same quarter last year due to ongoing cost inflation, driven in particular by personnel and location costs.
Overall, revenue from passenger airlines rose by three percent to 8.2 billion euros in the second quarter (previous year: 8.0 billion euros). Adjusted EBIT increased to 690 million euros (previous year: 581 million euros). All airlines generated a positive result in the second quarter.
In the first half year, revenue for the passenger airlines totaled 14.1 billion euros, representing growth of around four percent compared with the previous year. Adjusted EBIT improved to -244 million euros (first half of 2024: -337 million euros). The positive development is mainly attributable to lower fuel costs, higher income from investments, and the absence of financial strike-related expenses in the previous year. In contrast to the first half of 2024, network stability also improved significantly, resulting in a 106 million euros reduction in financial expenses due to flight irregularities.
The integration of ITA Airways, in which the Lufthansa Group holds a 41 percent stake in the first phase, is continuing to progress. The benefits for customers are already clearly noticeable. Since the beginning of July, the airlines of the Lufthansa Group and ITA Airways have harmonized the benefits for their respective status customers, such as mutual lounge access, priority boarding, and conditions for additional baggage.
Also since July, flights from Lufthansa, SWISS, Austrian Airlines, and Brussels Airlines can be combined with long-haul flights from ITA Airways in a single booking. This has been possible for short- and medium-haul flights since March.
Starting in September, ITA Airways guests will be able to store their travel profile electronically in the Lufthansa Group Travel ID and benefit from the associated digital customer services of the Lufthansa Group.
Lufthansa Airlines continues to implement Turnaround program
Lufthansa Airlines’ Turnaround program remains on track. Increasing operational stability forms the foundation for the success of this program. Significant progress has already been made in this regard: punctuality and reliability achieved their best figures in ten years in the first six months. At the same time, revenues increased. Revenue from flight-related ancillary services rose by more than 25 percent in the first half of the year. In addition, structural measures have been initiated with the announced closure of the customer service center in Peterborough (Canada) and the associated reduction in personnel, which will make Lufthansa Airlines more efficient in the long term. The Turnaround measures are expected to have a gross earnings effect of 1.5 billion euros in 2026 and 2.5 billion euros in 2028.
Lufthansa Technik at record levels in the first half of the year, Lufthansa Cargo doubles its second quarter result compared with the previous year
The sustained high demand for air travel is leading to a further increase in demand for maintenance and repair services. Lufthansa Technik’s revenue rose by eight percent to 2.0 billion euros in the second quarter (same quarter last year: 1.8 billion euros). Ongoing material shortages, the US dollar exchange rate and increased US tariffs led to a ten percent increase in expenses compared with the same quarter last year. Nevertheless, Lufthansa Technik achieved an Adjusted EBIT of 310 million euros in the first half of 2025, once again setting a new record.
Lufthansa Cargo continued the positive trend of the first three months of the year in the second quarter. With an Adjusted EBIT of 73 million euros, the operating result in the second quarter doubled compared with the previous year (second quarter of 2024: 36 million euros). High demand for Asian e-commerce shipments and capacity bottlenecks in sea freight traffic led to an increase in demand and thus a higher load factor for Lufthansa Cargo. Since June 2025, Lufthansa Cargo has been marketing the freight capacity of ITA Airways’ South American routes to Rome. Lufthansa Cargo plans to gradually expand the marketing of belly capacity to all continental and intercontinental routes of the Italian airline. This will further consolidate Lufthansa Cargo’s route network.
Balance sheet strengthened, debt reduced
The Lufthansa Group’s operating cashflow amounted to around 2.8 billion euros in the first half of the year (previous year: 2.7 billion euros). Net investments remained at the previous year’s level at 1.6 billion euros. Overall, the Lufthansa Group generated an Adjusted Free Cashflow of 1.04 billion euros (previous year: 878 million euros).
Net debt decreased slightly to 5.5 billion euros compared with the end of 2024 (December 31, 2024: 5.7 billion euros). Net pension obligations fell by 400 million euros to 2.2 billion euros due to the higher discount rate. The Lufthansa Group’s available liquidity increased by 100 million euros compared with the beginning of the year to 11.1 billion euros.
Till Streichert, Chief Financial Officer of Deutsche Lufthansa AG: “We continue to operate in a volatile environment with high uncertainty and high cost pressure. I am therefore pleased to be able to present another quarterly result that is significantly above the previous year and to report progress in our Turnaround program. In our assessment, opportunities and risks are balanced. We therefore continue to expect a full year 2025 result significantly above the previous year and Adjusted Free Cashflow at approximately the previous year’s level. We thereby confirm our guidance. At the same time, we are closely monitoring macroeconomic developments and can respond flexibly to changes in the business environment.”
Outlook
Global demand for air travel remains strong. However, geopolitical crises and macroeconomic uncertainties, particularly commodity price and exchange rate volatility, are affecting the accuracy of forecasts for the rest of the year. In addition, the tendency of many travelers to book at shorter notice is limiting visibility for the second half of the year.
Despite ongoing global uncertainties, the Lufthansa Group is reaffirming its forecast for the full year and expects operating profit (Adjusted EBIT) to be significantly higher than last year (previous year: 1.6 billion euros) with capacity growth of around four percent.
The company continues to expect Adjusted Free Cashflow to remain at the previous year’s level (previous year: 840 million euros). This includes net investments of 2.7 to 3.3 billion euros, primarily for the ongoing fleet renewal.
Among other things, this will finance the remaining payments for the first Boeing 787-9 long-haul aircraft at the group’s largest hub in Frankfurt. By the end of the year, up to ten of these ‘Dreamliner’ with the new Allegris seat generation are expected to be added to the group’s fleet. In summer 2026, Lufthansa Airlines plans to operate a total of 15 Boeing 787-9 s from Frankfurt, more than doubling the number of aircraft offering the Lufthansa Allegris premium product to customers.