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Category: Business

  • MIL-OSI USA: Alabama Man Sentenced to Five Years in Prison for Violating U.S. Sanctions on Iran

    Source: US State of Vermont

    Ray Hunt, also known as Abdolrahman Hantoosh, Rahman Hantoosh, and Rahman Natooshas, 71, of Owens Cross Roads, Alabama, has been sentenced to five years in prison for violating the International Emergency Economic Powers Act. In July 2024, Hunt pleaded guilty to conspiring to export U.S.-origin goods to the Islamic Republic of Iran in violation of the U.S. trade sanctions.

    According to court documents, in May 2014, Hunt registered Vega Tools LLC with the Alabama Secretary of State, listing the nature of the business as “the purchase/resale of equipment for the energy sector.” He operated Vega Tools, including purchasing, receiving, and shipping U.S.-origin goods, from locations in Madison County, Alabama. Beginning at least as early as 2015 and continuing to the time of his arrest in November 2022, Hunt conspired with two Iranian companies located in Tehran, Iran, to illegally export U.S.-manufactured industrial equipment for use in Iran’s oil, gas, and petrochemical industries.

    Hunt engaged in a series of deceptive practices to avoid detection by U.S. authorities, including using third-party transshipment companies in Turkey and the United Arab Emirates (UAE) and routing payments through UAE banks, as well as lying to shipping companies about the value of his exports to prevent the filing of Electronic Export Information to U.S. authorities. Hunt lied to suppliers and shippers by claiming the items he purchased on behalf of the Iranian co-conspirators were destined for end-users in Turkey and UAE, while knowing the exports were ultimately destined for Iran. Hunt also lied to U.S. Customs and Border Protection officers regarding the nature and existence of his business when questioned upon his return from a March 2020 trip to Iran.   

    Sue Bai, head of the Justice Department’s National Security Division; U.S. Attorney Prim F. Escalona for the Northern District of Alabama; Acting Assistant Secretary for Export Enforcement John Sonderman of the Department of Commerce’s Bureau of Industry and Security (BIS); and Assistant Director Kevin Vorndran of the FBI’s Counterintelligence Division announced the sentence.

    BIS investigated the case with valuable assistance provided by the FBI.

    Assistant U.S. Attorneys Jonathan Cross and Henry Cornelius for the Northern District of Alabama and Trial Attorneys Emma Ellenrieder and Adam Barry of the National Security Division’s Counterintelligence and Export Control Section prosecuted the case.

    MIL OSI USA News –

    February 26, 2025

  • MIL-OSI Security: Alabama Man Sentenced to Five Years in Prison for Violating U.S. Sanctions on Iran

    Source: United States Attorneys General 1

    Ray Hunt, also known as Abdolrahman Hantoosh, Rahman Hantoosh, and Rahman Natooshas, 71, of Owens Cross Roads, Alabama, has been sentenced to five years in prison for violating the International Emergency Economic Powers Act. In July 2024, Hunt pleaded guilty to conspiring to export U.S.-origin goods to the Islamic Republic of Iran in violation of the U.S. trade sanctions.

    According to court documents, in May 2014, Hunt registered Vega Tools LLC with the Alabama Secretary of State, listing the nature of the business as “the purchase/resale of equipment for the energy sector.” He operated Vega Tools, including purchasing, receiving, and shipping U.S.-origin goods, from locations in Madison County, Alabama. Beginning at least as early as 2015 and continuing to the time of his arrest in November 2022, Hunt conspired with two Iranian companies located in Tehran, Iran, to illegally export U.S.-manufactured industrial equipment for use in Iran’s oil, gas, and petrochemical industries.

    Hunt engaged in a series of deceptive practices to avoid detection by U.S. authorities, including using third-party transshipment companies in Turkey and the United Arab Emirates (UAE) and routing payments through UAE banks, as well as lying to shipping companies about the value of his exports to prevent the filing of Electronic Export Information to U.S. authorities. Hunt lied to suppliers and shippers by claiming the items he purchased on behalf of the Iranian co-conspirators were destined for end-users in Turkey and UAE, while knowing the exports were ultimately destined for Iran. Hunt also lied to U.S. Customs and Border Protection officers regarding the nature and existence of his business when questioned upon his return from a March 2020 trip to Iran.   

    Sue Bai, head of the Justice Department’s National Security Division; U.S. Attorney Prim F. Escalona for the Northern District of Alabama; Acting Assistant Secretary for Export Enforcement John Sonderman of the Department of Commerce’s Bureau of Industry and Security (BIS); and Assistant Director Kevin Vorndran of the FBI’s Counterintelligence Division announced the sentence.

    BIS investigated the case with valuable assistance provided by the FBI.

    Assistant U.S. Attorneys Jonathan Cross and Henry Cornelius for the Northern District of Alabama and Trial Attorneys Emma Ellenrieder and Adam Barry of the National Security Division’s Counterintelligence and Export Control Section prosecuted the case.

    MIL Security OSI –

    February 26, 2025

  • MIL-OSI Global: How Nutriset, a French company, has helped alleviate hunger and create jobs in some of the world’s poorest places

    Source: The Conversation – USA – By Nicolas Dahan, Professor of Management, Seton Hall University

    Michel Lescanne, founder and president of the French company Nutriset, holds Plumpy’nut packets in 2005. Robert Francois/AFP via Getty Images

    About 19 million children under 5 around the world suffer from severe acute malnutrition every year. This life-threatening condition kills 400,000 of them – that’s one child every 10 seconds.

    These numbers are staggering, especially because a lifesaving treatment has existed for nearly three decades: “ready-to-use therapeutic food.”

    Nutriset, a French company, was founded by Michel Lescanne. He was one of two scientists who invented this product in 1996. A sticky peanut butter paste branded Plumpy’nut, it’s enriched with vitamins and minerals and comes in packets that require no refrigeration or preparation.

    Health care professionals were quickly convinced of its promise. What was harder to figure out was how to manufacture as many packets as possible while cutting costs. In 2008, ready-to-use therapeutic food producers like Nutriset charged US$60 for one box of 150 packets – the number needed to treat one severely malnourished child for the 6-8 weeks needed for their recovery.

    In a study we published in the Journal of Management Studies in October 2024, we explained how the international agencies, nongovernmental organizations, activists and for-profit companies involved in the product’s distribution managed to resolve a public controversy over the use of Nutriset’s patent and its for-profit business model.

    Contrary to the expectations of activists and many humanitarian NGOs, this for-profit company managed to reduce its prices down to $39 per box of Plumpy’nut packets by 2019 and keep them consistently lower than any nonprofit or for-profit competitors could, all the while enforcing its patent rights.

    We interviewed Jan Komrska, a pharmacist then serving as the ready-to-use therapeutic food procurement manager at UNICEF, the United Nations agency for children; Tiddo von Schoen-Angerer, a pediatrician who was leading the access to medicines campaign at Doctors Without Borders, a medical charity; and Thomas Couaillet, a Nutriset executive. We also studied documents issued over the course of a decade to find out why this company’s unusual approach to intellectual property protection was so successful.

    Helping franchisees in low-income countries get started

    Nutriset and humanitarian organizations disagreed at the start over how to proceed with the production of ready-to-use therapeutic food.

    Doctors Without Borders at first accused Nutriset of behaving like a big drugmaker, shielding itself from competition by aggressively enforcing its patents to charge excessively high prices. The nongovernmental organization demanded that Nutriset allow any manufacturer to make its patented packets, without any compensation for that intellectual property.

    By 2012, Nutriset had changed course. It had stopped being almost the sole producer of ready-to-use therapeutic food and instead allowed licensees and franchisee partners, chiefly located in low-income countries, to make the packets without having to pay any royalties. It did, however, make an exception for the United States. It allowed Edesia, a Rhode Island-based nonprofit, to become a Nutriset franchisee.

    It also provided these smaller producers with seed funding and technical advice.

    Nutriset is still the world’s largest ready-to-use therapeutic food producer, we have determined through our research. It’s responsible for about 30% to 40% of the world’s annual production, down from more than 90% in 2008.

    There are some other U.S. manufacturers, such as Tabatchnick Fine Foods, but they aren’t Nutriset partners.

    Nutriset produced this video in 2012 to explain the scale of hunger around the world and how its ready-to-use therapeutic food packets can help.

    Threatening legal action

    At the same time, the company continued to threaten to take legal action against potential rivals located in developed countries that were replicating their recipe without authorization. Usually, cease-and-desist letters were sufficient.

    Nutriset implemented this strategy to ward off competition from big multinational corporations that might try to establish their brands in new markets, gaining a foothold before flooding them with imported ultraprocessed food. A big risk, had that occurred, would have been less breastfeeding for newborns and the disruption of local diets.

    Nutriset’s strategy of opening access to its patent selectively has enabled UNICEF to double the share of packets it buys from producers located in the Global South.

    UNICEF, the world’s biggest buyer of ready-to-use therapeutic food, bought less than one-third of its supplies from those nations in 2011. That share climbed to two-thirds in 2022.

    Nutriset’s reliance on local franchisees has helped create over 1,000 jobs in hunger-stricken regions while strengthening the supply chain and reducing the carbon emissions of transportation, according to UNICEF.

    Nutriset’s creative patent strategy also helped its partner producers in low-income countries, which include nonprofit and for-profit ventures, compete with large corporations in developed countries by the time its patent expired in 2018.

    In this instance, a for-profit company not only managed to keep its prices lower than its competitors, including nonprofits, but used its patent to support economic development in developing countries by shielding startup producers from international competition.

    As a result of these successes, we found that nongovernmental organizations eventually stopped criticizing the French company and recognized that high prices were actually not due to Nutriset’s patent policy but rather to global prices of the packets’ ingredients.

    In recognition of its contributions and innovation, Nutriset won the U.S. Patent and Trademark Office’s Patents for Humanity Award in 2015.

    Offering a cheap, convenient and effective treatment

    One of the biggest advantages of ready-to-use therapeutic food is that parents or other caregivers can give it to their kids at home or on the go. That’s more convenient and cheaper than the alternative: several months of hospitalization where children receive a nutrient-dense liquid called “therapeutic milk.”

    The at-home treatment works most of the time. More than 80% of the children who get three daily food packets recover within two months.

    Severe acute malnutrition deaths remain high because historically only 25% to 50% of children suffering from it get treated with ready-to-use therapeutic food, due to insufficient funding. The treatment programs are run by governments, UNICEF and other international agencies, and NGOs such as Doctors Without Borders.

    USAID’s funding role

    The U.S. government spent about $200 million in 2024 through the U.S. Agency for International Development on ready-to-use therapeutic food, enough packets to treat 3.9 million children. That’s nearly as much as UNICEF, which treats about 5 million children annually.

    It’s unclear whether the Trump administration, which is trying to dismantle USAID, will discontinue its funding of ready-to-use therapeutic food that the U.S. government has purchased exclusively from U.S. manufacturers with U.S.-sourced ingredients.

    At a time when the flow of development aid from several wealthy countries is declining, the precedent Nutriset set suggests that humanitarian organizations, by teaming up with international agencies, governments and for-profit companies, can help drive down the costs of saving lives threatened by hunger while increasing the nutritional autonomy of the Global South.

    But the funding for ready-to-use therapeutic food and its distribution has to come from somewhere, whether it is from governments, foundations or other donors.

    The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. How Nutriset, a French company, has helped alleviate hunger and create jobs in some of the world’s poorest places – https://theconversation.com/how-nutriset-a-french-company-has-helped-alleviate-hunger-and-create-jobs-in-some-of-the-worlds-poorest-places-249258

    MIL OSI – Global Reports –

    February 26, 2025

  • MIL-OSI: AutoScheduler.AI Exhibits AI-Enhanced Warehouse Orchestration at ProMat 2025

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, Feb. 25, 2025 (GLOBE NEWSWIRE) — AutoScheduler.AI, an innovative Warehouse Orchestration Platform and WMS accelerator, will exhibit its award-winning platform at ProMat 2025 in Booth E11539. AutoScheduler booth visitors will learn how to maximize labor utilization, eliminate dock congestion, and optimize automation for peak efficiency.

    “Many supply chains struggle with uncoordinated workflows, unpredictable labor needs, and automation inefficiencies that increase costs and reduce productivity,” says Keith Moore, CEO of AutoScheduler.AI. “These challenges result in dock congestion, labor shortages, data silos, and disconnected automation. With AutoScheduler, companies gain optimum real-time workflows, leading to a fully optimized operation. Our solution prioritizes tasks instantly to streamline operations and improve bottom-line profits.”

    At booth #E11539, AutoScheduler.AI will be showcasing how AI-powered orchestration transforms operations to:

    • Boost labor efficiency and reduce costs
    • Level-load automation for maximum ROI
    • Eliminate dock congestion and streamline workflows

    AutoScheduler is hosting a Happy Hour on March 18. To register for the Happy Hour, visit:
    https://info.autoscheduler.ai/asi_promat_happyhour_2025?utm_campaign=8721832-ProMat%202025&utm_source=hs_email&utm_medium=email&_hsenc=p2ANqtz-_xiCihisd_9vNdl3SN6-aLu3tLSqAG3A7iBB0kDUuTSC-M54VRGE4af6aGAmGMmVBzbiim

    ProMat 2025 will showcase the world’s leading manufacturing and supply chain solution providers at McCormick Place in Chicago on March 17 – 20, 2025. In over 200 educational sessions, attendees will gain insights on the leading trends and innovations from thought leaders, see leading solution providers in action, and network with peers and suppliers from around the world to create strong business relationships.

    To schedule a meeting with AutoScheduler executives at the booth, visit: https://info.autoscheduler.ai/asi_promat_2025?utm_campaign=8721832-ProMat%202025&utm_source=hs_email&utm_medium=email&_hsenc=p2ANqtz-853U5Bi9-MNkact1dnl6IiojyVgAnRAlpBaYBSSKAkavYzn8MP3ccg3vhj4Tz1UtNQY5EU

    About AutoScheduler.AI

    AutoScheduler.AI empowers you to take full control of your warehouse with a cloud-based solution that seamlessly integrates with your existing WMS/LMS/YMS or any other solution. We automate critical tasks like labor scheduling, dock management, and task sequencing, ensuring everything runs smoothly and efficiently. You’ve already invested in the software to run your warehouse—what we do is provide the orchestration layer that ties it all together to make real-time data driven decisions. With AutoScheduler.AI, you get smart orchestration for a smarter, more agile warehouse. For more information, visit: http://www.autoscheduler.ai.

    Contact:
    Becky Boyd
    MediaFirst PR
    Becky@MediaFirst.Net
    Cell: (404) 421-8497 

    The MIL Network –

    February 26, 2025

  • MIL-OSI Economics: Fannie Mae Announces 2024 STAR Program Results

    Source: Fannie Mae

    WASHINGTON, DC – Fannie Mae (FNMA/OTCQB) today announced its 2024 Servicer Total Achievement and Rewards (STAR ) Program results, recognizing 29 mortgage servicers for competency, capability, and overall performance. For more than a decade, Fannie Mae’s STAR Program has awarded high-performing mortgage servicers for their loan volume and portfolio composition, and for demonstrating leading practices to improve the housing industry.

    “We’re proud of this year’s top-performing STAR Program servicers who are critical partners in our mission to provide stability to borrowers based on strong servicing standards,” said Cyndi Danko, Senior Vice President and Single-Family Chief Credit Officer, Fannie Mae. “Our servicers continue to show their commitment to operational excellence while reducing credit loss – a crucial component to the overall safety and soundness of Fannie Mae’s business and the residential mortgage market.”

    Since 2011, Fannie Mae’s STAR Program has enabled broad and lasting improvements across the mortgage servicing industry by promoting servicing knowledge and excellence. The program has seen sustained servicer improvement in both metric performance and operational assessment results year over year.

    For the 2024 program year, mortgage servicers were evaluated for STAR Performer recognition in three categories: General Servicing, Solution Delivery, and Timeline Management based on the results of the Servicer Capability Framework and STAR Performance Scorecard.

    The 2024 STAR Program recipients are:              

    General Servicing

    • Associated Bank
    • Cenlar Federal Savings Bank
    • Colonial Savings
    • Fifth Third Bank, N.A.
    • Gateway First Bancorp, Inc
    • Guild Mortgage Company
    • PHH Mortgage Corporation
    • JPMorgan Chase Bank
    • M&T Bank
    • Truist Bank
    • The PNC Financial Services Group, Inc.
    • Provident Funding Associates, L.P.
    • University Bank
    • Wells Fargo & Company

    Solution Delivery

    • Flagstar Bank, National Association
    • Rocket Mortgage, LLC

    Timeline Management

    General Servicing and Solution Delivery

    • Arvest Bank
    • Bank of America, N.A.
    • BOK Financial Corporation
    • Dovenmuehle Mortgage, Inc.
    • Freedom Mortgage Corp.
    • Planet Home Lending, LLC
    • Regions Bank
    • Servbank
    • ServiceMac
    • The Huntington National Bank

    General Servicing and Timeline Management

    • NewRez, LLC

    General Servicing, Solution Delivery, and Timeline Management

    • Mr. Cooper

    MIL OSI Economics –

    February 26, 2025

  • MIL-OSI Global: How the Victorians started the modern health obsession with collagen

    Source: The Conversation – UK – By Michelle Spear, Professor of Anatomy, University of Bristol

    Dream79/Shutterstock

    Shimmering, wobbling and painstakingly prepared, jelly was a staple of elite Victorian dining tables. But beneath its elegant presentation lay a deeper significance – one that reveals much about the era’s understanding of bone, health and scientific progress.

    By examining what jelly meant to the Victorians, we gain a fascinating insight into how food, science, and social status were entwined, and why our modern fascination with bone broth and collagen supplements is nothing new.

    To the Victorians, food was not merely sustenance but spectacle, and few dishes displayed culinary prowess as effectively as jelly.

    The ability to produce a flawless, quivering mould showed not only a cook’s technical skill but also a household’s refinement and affluence. A beautifully set table featuring jewel-toned jellies and savoury aspics signified sophistication, wealth and control over one’s domestic sphere.

    Despite its seemingly effortless appearance, jelly was among the most labour-intensive dishes a Victorian cook could prepare. Before the advent of commercially available gelatin, creating the perfect jelly required hours of patient work, beginning with the extraction of gelatin from animal bones.

    Beneath the quivering surface of a Victorian jelly lies a remarkable structural conversion that begins deep within bone.

    The key to jelly is collagen, the most abundant protein in the body and a fundamental component of bone. Collagen provides bone with tensile strength and flexibility, working alongside hydroxyapatite, a crystalline form of calcium phosphate, which lends bone its rigidity.

    In its natural state, collagen exists as a tightly wound triple-helix structure – a molecular arrangement that resists breakdown under normal conditions. However, through prolonged exposure to heat and water, this resilient protein undergoes hydrolysis, breaking apart into gelatin — a substance capable of setting liquids into the delicate, tremulous form so prized by the Victorians.

    The process begins with the slow simmering of bones, a practice familiar to both culinary and medical traditions.

    When bones are boiled in water over extended periods, heat disrupts the hydrogen bonds stabilising the collagen fibrils, causing them to unravel. This process, known as thermal denaturation, leads to the gradual breakdown of collagen’s highly ordered triple helix, transforming it into smaller, soluble protein fragments.

    The longer the bones are boiled, the more collagen dissolves, releasing a rich, proteinaceous broth — the precursor to both gelatin and the contemporary trend of bone broth, a healthy soup made by boiling animal bones.

    As hydrolysis progresses, collagen loses its fibrous structure, forming a loose network of protein chains that remain suspended in the liquid. Unlike intact collagen, which is rigid and insoluble, these denatured fragments possess the unique ability to trap water molecules within a gel matrix when cooled.

    This transformation is the defining characteristic of gelatin: once heated, it dissolves readily into a liquid, but upon cooling, the reformation of weak intermolecular bonds allows it to set into a flexible, semi-solid state.

    The final stages of gelatin extraction involve purification and clarification. Victorian kitchens employed traditional methods of refining the broth, often using egg whites to bind to impurities, which were then skimmed from the surface. Once sufficiently clarified, the liquid was left to cool, allowing the gelatin to set into its characteristic wobbly structure.

    Unlike modern commercial gelatin, which undergoes industrial processing for uniformity and ease of use, Victorian gelatin varied in strength and purity depending on the bones used and the duration of boiling.

    Some bones yielded a stronger gelatin than others, influencing both its setting properties and clarity. Calves’ feet were among the most prized sources, rich in collagen and capable of producing a firm, well-setting jelly.

    In contrast, ox bones, though commonly used for broths, contained less collagen and required prolonged boiling to extract enough gelatin, often resulting in a weaker set.

    Boiling time was critical in determining gelatin strength. A long, slow simmer (12–24 hours) was optimal. Shorter boiling times, often used for poultry or lighter broths (and lighter bones), resulted in weaker gelatin. However, overboiling (beyond 24–36 hours) risked breaking down the protein structure too much, preventing the gelatin from setting properly.

    Collagen and health

    The link between gelatin and bone health was not lost on Victorian society. Medical texts of the period frequently recommended gelatin-rich broths for invalids, children, and the elderly, reinforcing the belief that consuming gelatin could replenish and strengthen the body’s own systems.

    This intuitive logic mirrors contemporary claims that bone broth supports joint health, digestion and skin elasticity. However, while broth provides collagen and minerals, scientific evidence for its direct functional benefits remains limited.

    Collagen from food is broken down during digestion and does not directly restore cartilage or connective tissue. Despite its nutrient content, bone broth is no more beneficial than other protein sources, with its resurgence driven more by slow food and wellness trends than firm scientific backing.

    In many ways, the gelatinous dishes that graced Victorian dining tables were as much a product of scientific curiosity as they were of culinary tradition. The transformation of bone into jelly encapsulated an era fascinated by both anatomy and domestic mastery, offering a rare but not exclusive intersection between the dinner table and the laboratory.

    Michelle Spear 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.

    – ref. How the Victorians started the modern health obsession with collagen – https://theconversation.com/how-the-victorians-started-the-modern-health-obsession-with-collagen-249215

    MIL OSI – Global Reports –

    February 26, 2025

  • MIL-OSI Global: Trump’s claim that US debt calculation may be fraudulent could put the economy in danger

    Source: The Conversation – UK – By Gabriella Legrenzi, Senior Lecturer in Economics and Finance, Keele University

    Deacons docs/Shutterstock

    The US president, Donald Trump, is challenging official figures around the country’s federal debt, suggesting possible fraud in its calculation. The president’s remarks have added a controversial twist to an issue that is both complex and consequential for the United States. And it has implications for the global economy and financial markets too.

    US federal debt is the total amount of money the US government owes from years of borrowing to cover budget deficits (spending beyond its revenues). Over time, this amount has grown significantly, becoming a focal point for political debates and economic forecasts.

    The US debt clock indicates an amount of debt of above US$36 trillion (£28.5 trillion), corresponding to US$107,227 (£84,795) per US citizen.

    This figure is based on the US total public debt series. It is undeniable that the US debt has grown remarkably since the 2008 recession, with a further acceleration during the COVID pandemic. This brings the US federal debt in at around 121% of the size of the entire economy (GDP). For comparison, the UK’s Office for Budget Responsibility puts British national debt at 99.4% of GDP in 2024.

    This pattern is common across advanced economies, given the necessity to spend to support their economies during recessions.

    Trump has also claimed that, as the result of this alleged fraud, the US might have less debt than was thought. Potential fraud aside, it is common knowledge that the headline debt figure overstates the amount of federal debt. This is because it includes debt that one part of the US government owes to another part, as well as debt held by the Federal Reserve Banks.

    Subtracting these debts from the US federal debt data gives us the debt held by the public. This is much lower but it still shows a similar growing pattern over time.

    How US national debt has grown as a share of GDP:

    The conventional wisdom (courtesy of Mr Micawber, a character in Charles Dickens’ novel David Copperfield) is that an income greater than expenditure equals happiness, while the opposite results in misery. But this does not necessarily apply to public debt.

    This is ultimately a debt we have with ourselves (and our future generations). What really matters is its long-term sustainability, meaning that the debt-to-GDP ratio is not following an explosive pattern. This kind of pattern could increase the risk premium (effectively the interest) demanded by investors, with a negative impact on private investments and growth prospects. Also, it potentially raises the risk of default.

    Our research has shown that there is no universally accepted threshold where debt becomes unsustainable. Instead, each case requires context-specific analysis looking at macroeconomic fundamentals such as inflation and unemployment, financial crises as well as the (potentially self-fulfilling) market expectations.

    Trump’s take

    Recently, Trump has questioned not only the size of federal debt but also the integrity of the methods used to calculate it, without presenting any evidence. He claims that the Elon Musk-led Department of Government Efficiency (Doge) has uncovered potential fraud. If confirmed, these findings could significantly alter perceptions of the country’s financial position.

    Reports have also highlighted his controversial allegation that the US is “not that rich right now. We owe US$36 trillion … because we let all these nations take advantage of us.” These claims are puzzling, as the large size of US debt reflects decades of fiscal policy decisions in the wake of numerous shocks to the economy. Debt itself is not a cause of alarm for analysts.

    While the amount of US federal debt held by foreign stakeholders has risen over time, it is currently less than 30% of GDP. This is down from an all-time high of 35% during Trump’s first term back in 2020 during the pandemic.

    Of the US federal debt held by foreign countries, the largest amounts are owned by Japan, China, and the UK. Yet, when other countries hold US federal debt, it has nothing to do with “taking advantage” of the US.

    In fact, the US dollar is the world’s dominant vehicle currency. It is on one side of 88% of all trades in the foreign exchange market, which has a global daily turnover of US$7.5 trillion.

    As such, the US benefits from a so-called “exorbitant privilege”. This advantage comes from the international demand for the “safe haven” status of US Treasury securities and the US dollar, and has allowed the US to issue debt at a relatively low interest rate.

    Research suggests that this “safe haven” status of the US dollar has increased the maximum sustainable debt for the US by around 22%. What’s more, it’s estimated to have saved the US government 0.7% of GDP in annual interest payments.

    These advantages rely on the fact that US Treasury bonds are traditionally viewed as risk-free assets. This is particularly the case during times of global financial stress, as they are backed by the full faith and credit of the US government. The US has a longstanding record of meeting its debt obligations.

    But Trump’s comments risk shaking the confidence of financial markets, leading traders to reassess the reliability of official data and the potential risks associated with US Treasury bonds. Whether truth or tale, such remarks touch on sensitive issues regarding fiscal responsibility and transparency in government.

    Any suggestion that the US government’s debt figures are unreliable could be destabilising. This is because they could call into question the reliability of the US fiscal system among the international investors and foreign governments that hold these securities.

    Much like Trump’s tariff threats, alleging other countries who hold a substantial portion of US federal debt have been opportunistic could be risky.

    The president could end up straining diplomatic bilateral relations with key creditors, which may cause broader uncertainties in global financial markets.

    With Trump in the White House, distinguishing between politically charged rhetoric and fiscal sustainability of the US federal debt will be essential for maintaining trust in the US economy and the health of the global financial system.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Trump’s claim that US debt calculation may be fraudulent could put the economy in danger – https://theconversation.com/trumps-claim-that-us-debt-calculation-may-be-fraudulent-could-put-the-economy-in-danger-250538

    MIL OSI – Global Reports –

    February 26, 2025

  • MIL-OSI USA: King, Colleagues Introduce Bipartisan Bill to Make Federally Funded Broadband Projects Tax-Free

    US Senate News:

    Source: United States Senator for Maine Angus King
    WASHINGTON, D.C. — U.S. Senator Angus King (I-ME) is cosponsoring bipartisan legislation that would allow broadband developers to maximize the impact of federal funding in Maine’s underserved communities. The Broadband Grant Tax Treatment Act would exclude broadband deployment grants awarded through certain federal programs from an organization’s taxable income. If passed, this would ensure the entirety of federal dollars awarded to companies for the purpose of deploying broadband around the country can be used for that purpose, rather than making their way back to the government through taxes.
    According to the Maine Connectivity Authority, the majority of Maine locations (89%) now have access to broadband internet — a 3% increase from 2023, due in large part to federal funding from the American Rescue Plan Act’s Capitol Projects Fund and the Bipartisan Infrastructure Investment and Jobs Act, championed by Senator King. The remainder of Maine people with unreliable internet access — or no internet access at all — is particularly high in rural communities.
    “In today’s digital age, access to high-speed, affordable broadband is critical for Maine people to live, work and stay connected with one another,” said Senator King. “Every single dollar that is invested in broadband deployment is vital, and shouldn’t be clawed back by the government at the cost of connecting an extra community street or neighborhood that needs it. I want to thank my colleagues for coming together to help close the digital divide in rural and urban communities in Maine and across the nation.”
    “The Broadband Grant Tax Treatment Act will help ensure that necessary federal investments in broadband infrastructure are deployed as efficiently and effectively as possible, providing relief to small businesses, communities and consumers,” said Andrew Butcher, President of Maine Connectivity Authority. “Connectivity to high speed internet is a modern necessity and the BGTTA will help stretch critical funding as far as possible, accelerating deployment and reducing costs.” 
    In addition to Senator King, this legislation is cosponsored by Senators Jerry Moran (R-KS), Mark Warner (D-VA), Dan Sullivan (R-AK), Tim Kaine (D-VA), Tommy Tuberville (R-AL), Mark Kelly (D-AZ), Shelley Moore Capito (R-WV), Roger Wicker (R-MS), Raphael Warnock (D-GA), Kevin Cramer (R-ND) and Deb Fischer (R-NE).
    Senator King is a longstanding advocate for the expansion of broadband access; his first op-ed as a Senate candidate in 2012 was to tout the social and economic potential of statewide connectivity. He has continued to push Maine in the direction of full statewide connectivity throughout his time in the Senate. Most recently, Senator King helped secure a $24.8 million investment in broadband infrastructure and digital literacy. He also introduced the Digital Equity Act of 2021, creating new federal investments toward programs promoting digital equity, and went on to be a key negotiator in securing $65 billion toward broadband infrastructure as part of the Bipartisan Infrastructure Law in 2021.

    MIL OSI USA News –

    February 26, 2025

  • MIL-OSI United Kingdom: TRA proposes keeping measures on organic coated steel from China

    Source: United Kingdom – Executive Government & Departments

    News story

    TRA proposes keeping measures on organic coated steel from China

    The TRA has recommended extending anti-dumping and countervailing measures on organic coated steel imported from China until 2029.

    The Trade Remedies Authority (TRA) has today (Tuesday 25 February) published initial findings, proposing that anti-dumping and countervailing measures on organic coated steel (OCS) imported from China be maintained for an additional five years, until May 4, 2029.  

    In its Statements of Essential Facts (SEF), the TRA found that dumping and subsidisation would likely recur if the measures were removed, potentially causing injury to UK industry. The measures have been largely effective, usually keeping Chinese imports below 1,000 tonnes annually since 2013. Tata Steel UK (TSUK) is the sole producer of OCS in the UK, manufacturing it at the Shotton facility in North Wales. TSUK contributes approximately £222 million to the UK economy annually, including sales of OCS, and employs around 8,100 people across all its operations. 

    OCS is used to maintain the durability of various structures, especially in the construction industry, as well as in metal furniture, heating and ventilation ducting and casings and in several domestic appliances.  

    Current anti-dumping duties on Chinese OCS imports range from 5.9% to 26.1% while countervailing duties range from 13.7% to 44.7%, depending on the exporter. 

    Businesses that may be affected by these findings can submit comments to the TRA by 18 March 2025 and can do so through the TRA’s public file.

    Notes to editors 

    • The Trade Remedies Authority is the UK body that investigates whether new trade remedy measures are needed to counter unfair import practices and unforeseen surges of imports.  

    • Trade remedy investigations were carried out by the EU Commission on the UK’s behalf until the UK left the EU. A number of EU trade remedy measures of interest to UK producers were carried across into UK law when the UK left the EU and the TRA has been reviewing these to assess whether they are suitable for UK needs. 

    • Anti-dumping duties allow a country or union to act against goods which are being sold at less than their normal value – this is defined as the price for ‘like goods’ sold in the exporter’s home market. 

    • Countervailing, or subsidy duties counteract imports being subsidised by their place of origin that cause material injury to a domestic industry.  

    • This transition review was initiated on 15 April 2024, examining data from the period 1 April 2023 to 31 March 2024, with injury assessment covering 1 April 2020 to 31 March 2024.  

    • The Statement of Essential Facts (SEF) represents the TRA’s interim findings. All interested parties can submit comments before the TRA makes its final recommendation to the Secretary of State for Business and Trade.

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    Updates to this page

    Published 25 February 2025

    MIL OSI United Kingdom –

    February 26, 2025

  • MIL-OSI Canada: Stronger consumer protections coming for people in B.C.

    Proposed amendments to consumer protection laws in B.C. will crack down on predatory sales practices and ensure people are better protected when making new purchases. 

    “For too long, people in B.C. have faced unfair contract terms and predatory sales practices on everyday items,” said Niki Sharma, Attorney General. “These new amendments will better protect people from unfair business practices in an increasingly complex marketplace.”

    The proposed legislative changes modernize the Business Practices and Consumer Protection Act (BPCPA) to reflect contemporary business practices. The amendments are designed to promote contract fairness and transparency and to strengthen consumer rights.

    Key proposed changes in the legislation will:

    • require businesses to provide important contract terms up front, including improved remedies for consumers related to renewal, cancellation, return and refund policies, particularly for online orders, bringing more transparency to pre-purchase contracts;
    • introduce notification requirements for automatic subscription renewals and restrict significant contract changes without the customer’s consent;
    • prohibit contract terms that restrict participation in class-action lawsuits, restrict consumer reviews or require private arbitration for disputes;
    • ban direct sales of high-cost household products, such as air conditioners and furnaces, and prohibit offering credit as part of a direct sale, reducing the risk of predatory sales tactics;
    • provide clearer pathways for consumers to cancel contracts under specified conditions; and
    • give consumers the ability to use the Civil Resolution Tribunal to adjudicate disputes under the BPCPA.

    “Our office hears from seniors who have fallen victim to scams and purchased an item or service they didn’t need due to high-pressure sales tactics,” said Dan Levitt, B.C. seniors advocate. “Many older British Columbians live on fixed incomes and take great care with their finances. Therefore, giving seniors and others space to review contracts in advance and prohibiting home sales will reduce the opportunities for older people to buy products and services they don’t need and can’t afford.”

    The amendments were developed based on public and stakeholder engagement to ensure that B.C.’s most vulnerable consumers, including seniors, newcomers and people with lower incomes or disabilities, are aware of their rights and are protected.

    The Province will continue to work with Consumer Protection BC and stakeholders to support a smooth transition to the changes and provide businesses with reasonable time to adjust their practices to meet the new requirements.

    Learn More:

    For more information about consumer protections for people in British Columbia, visit: https://www.consumerprotectionbc.ca/

    To read the Business Practices and Consumer Protection Act, visit: https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/04002_00

    MIL OSI Canada News –

    February 26, 2025

  • MIL-OSI Global: The UK farmer protests you probably haven’t heard about

    Source: The Conversation – UK – By Alex Heffron, PhD Candidate in Geography, Lancaster University

    Fruit pickers and farm workers protesting labour abuses on British farms. Peter Marshall

    Farm owners have besieged parliament with tractors in order to protest new subsidy schemes and inheritance tax arrangements. The farm workers who milk cows, drive machinery and pick crops have grievances too, yet their demands have been less publicised. So, what do they want?

    I am a farmer based in the south-west of Wales and a researcher of farming policy. I recently joined a protest by a group of Latin American farm workers known as “Justice is Not Seasonal”, outside the Home Office in London.

    The group accused soft fruit supplier Haygrove, which operates farms on three continents and supplies veg box delivery schemes including Riverford and Abel and Cole, of presiding over poor living and working conditions, failing to pay workers and charging inflated flight costs for overseas workers. Haygrove has an annual turnover in excess of £50 million.

    Haygrove denies these allegations. In response to a case brought forward by the trade union United Voices of the World and the charity Anti Trafficking and Labour Exploitation Unit, the Home Office has made an interim decision stating there are reasonable grounds that one of the affected workers, Julia Quecaño Casimiro, has been subjected to human trafficking and modern slavery.

    The case tribunal is due to be held soon although it has been a slow, arduous process reaching this point.

    In an article for the BBC, a spokesperson for Haygrove said that Casimiro’s claims were “materially incorrect and misleading”. Haygrove’s practices are audited by third-party organisations including the Home Office, and the company takes “great care” in ensuring fair recruitment and working processes, the spokesperson said.

    Various trade unions and organisations attended the protest, including the Landworkers’ Alliance, United Voices of the World, Independent Workers’ union of Great Britain, Unite and Solidarity Across Land Trades.

    Conspicuously absent was the National Farmers’ Union, which predominantly represents farm owners. This highlights the divergent class interests that exist within terms like “farmer”.

    More workers and more exploitation

    There are 160,000 UK farm workers (as opposed to owners and managers). Of these, some of the most gruelling agricultural work is done by around 45,000 seasonal migrant workers, either in fields in all weather or in the sweltering heat of polytunnels.

    The UK attracts migrant farm workers with six-month temporary visas. A United Nations special rapporteur, Tomoya Obokata, an expert in human rights law and modern slavery, has suggested that the UK is breaking international law with its seasonal work scheme by failing to investigate instances of forced labour. Claims of exploitation and bullying on UK farms are also becoming more common. Meanwhile, in an effort to appease farm managers, the UK government recently announced a five-year extension of this scheme.

    Food and farming organisations have urged the UK to produce more fruit and vegetables as part of a wider shift towards a less carbon-intensive food system.

    To scale up domestic production will require more workers harvesting crops in poor conditions, especially migrant workers who don’t have the same legal rights as British citizens.

    Seasonal migrant workers, for example, cannot bring family members to the UK and have no access to benefits, while their visas are often tied to one place of work which typically includes accommodation which leaves them particularly vulnerable to abuse. A call for increased labour, without a call for improved conditions, could mean more exploitation on British farms.

    Exploitation is not limited to the allegations of a few bad apples either. It is so widespread that it threatens the resilience of the UK’s food system.

    A recent report found that more than half of migrants at risk of labour abuse work in the food system. A more resilient food supply will require better working conditions, pay and housing for workers in this sector, the report concludes.

    Higher prices don’t mean better welfare

    It’s tempting to ask consumers to pay more for their food so that farm workers might earn more. However, higher prices are no guarantee of better conditions. Leaving aside rising inflation and stagnating wages which make it harder for consumers to buy ethically, organic farms already sell produce at a premium and some are also among those accused of mistreating workers.

    This is even a problem among small-scale organic food producers, as documented by Solidarity Across Land Trades. A report by this land worker’s union found that some small farms use bogus traineeships to justify paying workers as little as £1.41 per hour. This is despite the produce usually being sold for more than conventional supermarket prices.

    Greener diets depend on increased fruit and vegetable production.
    Framarzo/Shutterstock

    The structural problems of the food system are more complicated than the price consumers pay for food. There is also the question of who gets to be heard, who is valued and who is deemed worthy of rights and dignity when food production takes place under a system of class-based exploitation. These challenges cannot be solved at the checkout alone.

    The ecological crisis demands transitions away from diesel-powered machinery and chemical fertilisers and herbicides produced with fossil fuels. Farm workers are needed to carry out the transition towards more sustainable practices, but there will be no green transition unless these workers have a stake in it.

    This idea of “a just transition” has gained traction in recent years, and it is just as relevant to farmers and farm workers as it is to workers in other sectors, such as oil and gas. But what might it look like?

    The demands made by Justice Is Not Seasonal are a good place to start: an end to forced labour and exploitation on UK farms and full accountability for those responsible, fair wages and safe working conditions, residency rights and access to justice and remediation.

    Don’t have time to read about climate change as much as you’d like?

    Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 40,000+ readers who’ve subscribed so far.

    Alex Heffron 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.

    – ref. The UK farmer protests you probably haven’t heard about – https://theconversation.com/the-uk-farmer-protests-you-probably-havent-heard-about-249414

    MIL OSI – Global Reports –

    February 26, 2025

  • MIL-OSI Global: Why Trump really wants Ukraine’s minerals – China has put theirs off limits

    Source: The Conversation – UK – By Dafydd Townley, Teaching Fellow in International Security, University of Portsmouth

    Donald Trump is demanding reparations from Ukraine for the assistance that it has given to Kyiv during the Russian invasion. Trump has demanded Ukraine sign a US$500 billion (£394 billion) deal that would give the US access to, and revenue from, Ukraine’s rare and critical minerals, an essential resource in 21st century economy.

    Trump has said that this would form part of a repayment of the aid given by the US to Ukraine. Ukraine’s president, Volodymyr Zelensky, has so far refused to sign such an agreement stating that the aid was a grant and not a loan, as agreed by Trump’s predecessor Joe Biden and the Republican-controlled Congress.

    A key reason behind Trump’s push for this mineral deal is the US reliance on rare minerals such as gallium, which is critical for advanced defence technologies but is not readily available domestically.

    China, a leading supplier of gallium, has used its control over the resource as leverage against the US. It has imposed a ban on rare minerals being exported to the US, as part of its retaliation to increased US tariffs on Chinese goods.

    Other minerals are crucial for military technology such as missile system, electronics and electric vehicles. In Ukraine, there are deposits for 22 of the 34 minerals identified by the European Union as critical.

    The problem for the US is that China currently accounts for a high proportion of certain crticial mineral imports.

    So Trump sees a resolution to the Ukraine war as an opportunity to secure alternative sources of critical minerals, reducing US dependency on China and allowing Trump to take a more aggressive approach towards it. He also may not have predicted that China would hit back against the US tariffs with restrictions on these vital resources quite so quickly.

    Gallium is valued by the defence manufacturing industry because it is reliable and durable. In particular, the element is seen as a crucial tool enhancing radar, satellite communication systems, and electronic warfare systems. It is also used in multi-chip modules utilised by navigation and air traffic control systems.

    In addition to gallium, Ukraine has vast resources of graphite, an element that is used in the construction of electric vehicles and nuclear reactors, and a third of Europe’s supply of lithium, which is used in batteries.

    Trump’s focus on critical minerals has also influenced his interest in Greenland which possesses significant reserves of critical minerals, making it a potential alternative to Chinese-controlled resources.



    Read more:
    Trump’s Greenland bid is really about control of the Arctic and the coming battle with China

    Which minerals does Trump want?

    Why is China so important?

    Trump’s concern over China is also driving his negotiations with Russia more generally. One of Trump’s core concerns is China’s partnership with Russia. There is no doubt that China is now the dominant force in the Sino-Russian alliance.

    Given the increasing cooperation between the two nations in military, economic, and technological areas, Trump believes that China’s influence in global affairs needs to be countered aggressively. The Trump administration has sought to undermine the alliance by softening the US’s approach to Russia, a move that has shocked European leaders.

    Trump has long viewed China as the major threat to the US, considering it their biggest economic rival and a significant obstacle to making America “great again”.

    His economic policies have targeted Chinese trade practices, supply chain dependencies and geopolitical manoeuvres. One of his key trade advisers has argued American businesses are at a disadvantage from China’s state-controlled economy, intellectual property theft and trade imbalance.

    The recent tariffs imposed by the US on hundreds of billions of dollars’ worth of Chinese imports, were intended to make US products more competitive by driving up the cost of Chinese imports, thereby encouraging businesses and consumers to buy domestic goods instead.

    At the same time, Trump sought to weaken China’s export economy by making it more difficult for Chinese companies to sell goods in the US. His tariff policies extended beyond China, with similar measures being considered for Europe.

    By targeting multiple regions, Trump aimed to shift global supply chains and solidify the US as a manufacturing powerhouse. By ending the war in Ukraine, Trump believes the US can redirect funds and resources used in Europe toward countering China’s growing influence.

    Trump has tried to justify the tariffs on China by claiming Chinese manufacturers are responsible for the mass production of fentanyl, which is then trafficked into the US through various channels. Trump has proposed stricter measures to curb the flow of fentanyl, including sanctions and tariffs on Chinese firms allegedly involved in its production.

    Following China’s retaliation, Trump needs peace in Ukraine and the consequential mineral agreement with Kyiv before China’s ban on exports to the US affects critical US manufacturing. Such an agreement would then allow him to take an even more aggressive posture with China with fewer consequences.

    However, Zelensky recently claimed that Russia has taken control of 20% of Ukraine’s minerals since the invasion. And it’s possible it will be years before any American investor gets any return on their money due to a chronic lack of investment in Ukraine’s minerals sector for almost a decade.

    Even if Trump does get the deal he wants, he will have to wait a while before Ukraine’s minerals will fulfil all of the US’s needs.

    Dafydd Townley 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.

    – ref. Why Trump really wants Ukraine’s minerals – China has put theirs off limits – https://theconversation.com/why-trump-really-wants-ukraines-minerals-china-has-put-theirs-off-limits-250546

    MIL OSI – Global Reports –

    February 26, 2025

  • MIL-OSI Global: ‘I thought about escaping every day’: how survivors get out of Southeast Asia’s cybercrime compounds – Scam Factories podcast, Ep 3

    Source: The Conversation – UK – By Gemma Ware, Host, The Conversation Weekly Podcast, The Conversation

    Every day that he was locked up in a scam compound in Southeast Asia, George thought about how to get out. “We looked for means of escaping, but it was hard,” he told The Conversation.

    George, whose name has been changed to protect his identity, managed to secretly contact a rescue organisation in Myanmar, where he was being held. That set in motion a chain of events that would eventually lead to his freedom, but it would take months before he made it back home to his family in Uganda.

    Hundreds of thousands of people like George are estimated to have been caught up in the brutal scamming industry in Southeast Asia, many forced into criminality against their will.

    Scam Factories is a podcast series from The Conversation Weekly taking you inside these brutal fraud compounds. It accompanies a series of multimedia articles on The Conversation.

    In our third and final episode, Great Escapes, we find out the different ways people manage to escape and at what costs, what it takes for them to get home, and what is being done to clamp down on the industry.

    The Conversation collaborated for this series with three researchers: Ivan Franceschini, a lecturer in Chinese Studies at the University of Melbourne; Ling Li, a PhD candidate at Ca’ Foscari University of Venice, and Mark Bo, an independent researcher.

    They’ve spent the past few years researching the expansion of scam compounds in the region for a forthcoming book. They’ve interviewed nearly 100 survivors of the compounds, analysed maps and financial documents related to the scam industry and tracked scammers online to find out how these compounds work.

    Read an article by Ivan Franceschini and Ling Li which accompanies this episode.

    The Conversation contacted all the companies mentioned in this multimedia series for comment, except Jinshui who we could not contact. We did not receive a response from any of them.

    This episode was written and produced by Gemma Ware, with assistance from Mend Mariwany and Katie Flood. Leila Goldstein was our producer in Cambodia and Halima Athumani recorded for us in Uganda. Hui Lin helped us with Chinese translation. Sound design by Michelle Macklem and editing help from Ashlynee McGhee and Justin Bergman.

    Newsclips in this episodes are from CNA, Reuters and Al Jazeera English.

    Listen to The Conversation Weekly podcast via any of the apps listed above, download it directly via our RSS feed or find out how else to listen here.

    Mark Bo, an independent researcher who works with Ivan Franeschini and Ling Li, is also interviewed in this podcast series. Ivan, Ling, Mark, and others have co-founded EOS Collective, a non-profit organisation dedicated to investigating the criminal networks behind the online scam industry and supporting survivors.

    – ref. ‘I thought about escaping every day’: how survivors get out of Southeast Asia’s cybercrime compounds – Scam Factories podcast, Ep 3 – https://theconversation.com/i-thought-about-escaping-every-day-how-survivors-get-out-of-southeast-asias-cybercrime-compounds-scam-factories-podcast-ep-3-250673

    MIL OSI – Global Reports –

    February 26, 2025

  • MIL-OSI: Reserve Launches Index Protocol; Bloomberg Indices, CoinDesk Indices, MarketVector, And More Join Launch

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, Feb. 25, 2025 (GLOBE NEWSWIRE) —

    Reserve Index Protocol introduces DTFs, allowing anyone to create, trade, and redeem crypto index products with instant 24/7 access and real-time transparency.

    Today, ABC Labs, the team behind Reserve, launches their Reserve Index Protocol, which offers a first-of-its-kind, build-your-own ETF-like experience to crypto. The Index Protocol’s Decentralized Token Folios (DTFs) bring everyday investors and institutions the one-click, easy-to-use experience they’ve become accustomed to since the S&P 500 ETF revolutionized the investing world in 1992. Starting today, 12 index-based DTFs are available, including the Bloomberg Galaxy Crypto Index, CoinDesk DeFi Select Index, and MarketVector Token Terminal Fundamental Index by Re7 Labs; the Virtuals Index by Virtuals Protocol; the RWA Index and Large Cap DeFi Index by MEV Capital; and the Alpha Base Index by Altcoinist.com; and more.

    With over 50,000 new tokens launching daily, DTFs simplify the process of investing in crypto by bundling tokens into broad, diversified crypto indexes or emerging thematic narratives that empower investors to tap into sectors like DeFi, real-world assets (RWA), AI, and memes without the guesswork. Anyone can create a new DTF, and anyone can mint or redeem its tokens 24/7 in a single click. 

    “Our mission is to fight inflation and expand access to better financial products, and we firmly believe that crypto will be an integral part of the future financial landscape.” says Thomas Mattimore, CEO of ABC Labs. “We built the Reserve Index Protocol to become a ‘decentralized BlackRock,’ which we believe will open up the floodgates of creativity. Plus, by partnering with some of the premier index creators in the world, people can now easily get one-click exposure to this growing industry alongside trusted brand names.”
    “The integration of the MarketVector’s indexes into Reserve’s DTF platform through our partnership with Re7 Labs is an exciting moment for institutional-grade crypto indexing. By combining MarketVector’s proven methodology with Reserve’s trusted, permissionless infrastructure, we’re making regulated, professional-grade indexes more accessible while maintaining the transparency that institutional and retail investors demand,” says Martin Leinweber, Director of Digital Asset Research & Strategy at MarketVector Indexes.

    Like an ETF, each DTF unit is redeemable 1:1 for its underlying basket of assets. However, redemption happens via a smart contract, so anyone—not just authorized participants & market makers—can redeem. The underlying tokens remain in this contract, eliminating the need for a centralized custodian. Because DTFs operate on smart contracts, they can be governed by a decentralized body instead of a centralized investment company.

    The Reserve Index Protocol also adds a powerful new incentive mechanism where creators are given more control over how fees from native tokens launched on the Reserve Index Protocol are divided up. This incentive approach allows DTF creators to form teams, raise capital, offer liquidity incentives, and so on.

    “While ETFs revolutionized thematic investing, DTFs are completely redefining it. We’ve barely scratched the surface of what’s possible with onchain indexes, unlocking potential that was previously unimaginable. With Reserve’s Index Protocol, this is just the beginning,” says Connor Milner, Partnerships at Re7 Labs.

    For more information users can visit Reserve’s DTF announcement blog post here and follow them on (formerly Twitter). 

    About ABC Labs:
    ABC Labs is the team behind Reserve Yield Protocol and Reserve Index Protocol. Their mission is to fight inflation and expand access to better financial products.

    Contact

    Founder
    Margaret Hyde
    Margaret Hyde Consulting
    margaret@mhconsulting.io 

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/162f7da7-63d0-47ee-8f61-1ac659501d63

    The MIL Network –

    February 26, 2025

  • MIL-Evening Report: 5 years on, COVID remains NZ’s most important infectious disease – it still demands a strong response

    Source: The Conversation (Au and NZ) – By Michael Baker, Professor of Public Health, University of Otago

    Getty Images

    This Friday, February 28, marks five years since COVID-19 was first reported in Aotearoa New Zealand. At a population level, it remains our most harmful infectious disease, with thousands of hospitalisations and 664 deaths last year.

    Understandably perhaps, many people want to move on from the early pandemic years, and there is a temptation to minimise COVID’s threat now the emergency response has passed.

    But it deserves a proportionate response that draws on the rich evidence we now have of how to minimise the harms of respiratory infections and the health and economic benefits that come from managing them well.

    The epidemiology of the SARS-CoV-2 virus continues to change. Hospitalisations provide the most consistent measure of incidence trends. Wastewater testing shows similar successive waves of infection.

    The past five years divide into a successful elimination response from March 2020 to late 2021 and a mitigation period from February 2022 onwards.

    The mitigation phase, which has now lasted three years, has been driven by Omicron variants of SARS-CoV-2, with seven waves of generally decreasing size (see graph above).

    Total hospitalisations have dropped from a peak of more than 22,000 in 2022 to about 9,000 in 2024 (a 60% decline). Deaths attributed to COVID have also decreased from 2,757 in 2022 to 664 in 2024 (a 76% decline). These drops are likely to reflect changes in both the virus and population immunity arising from vaccination and infection.

    The timing and size of COVID waves remain unpredictable. They are not following a seasonal pattern like influenza. Only two of the seven Omicron waves peaked in the flu season (see graph above).

    Although further declines are likely, it is possible a large-scale change in the virus could emerge – as we’ve seen with Delta and Omicron variants – and reverse this pattern. We still need to plan for the possibility of severe future variants as well as for other types of pandemics that might be becoming more likely.

    Health and economic impacts of Long COVID

    Despite a favourable downward trend, deaths and hospitalisations from COVID are still higher than those estimated for influenza, which is probably our next most burdensome infectious disease.

    It is also a major cause of health inequities with significantly worse infection outcomes for Māori and Pacific peoples.

    Continuing high rates of repeat infections are also driving Long COVID, with the risk estimated at 4-14% per infection. Long COVID occurs with infections of all intensities, with both initial infection and reinfections.

    Consequently, the prevalence of Long COVID is likely to increase over time, with substantial health and economic consequences.

    How to respond to the ongoing pandemic

    We know what works to reduce the harms from COVID. Above all, we need an evidence-informed national plan, clear communication, engagement with key partners (including the health sector, public and Māori), resources and implementation. Key elements include:

    1. Continuing and enhancing highly effective COVID surveillance

    Surveillance systems include use of wastewater testing and whole-genome sequencing which guide our response. We need to add a focus on hospital-acquired COVID which is an important source of infections and deaths, estimated to have caused about 14% of COVID deaths in New South Wales in 2023, which would represent about 150 deaths that year in New Zealand.

    2. Promoting regular repeat vaccinations

    The currently available Pfizer JN.1 vaccine provides a reasonable match with the circulating strain of the virus. This vaccine is very safe and effective at reducing many adverse effects of infection, including Long COVID, but requires regular additional doses for all age groups to maintain effectiveness.

    3. Using public health and social measures to reduce infections

    These measures include improving indoor air quality and promoting testing and self-isolation for those with respiratory symptoms. Reintroducing free RAT tests and sick-leave support would help.

    Wearing respirator masks (for example, N95) is highly effective, particularly in confined indoor environments such as public transport. Given the severe effects of hospital-acquired COVID, health settings need particular attention. Evidence supports the effectiveness and value of admission testing of patients and staff wearing N95 masks.

    4. Taking specific measures to reduce and manage Long Covid

    This means active steps to reduce both the incidence of infection (with public health and social measures) and the severity and duration of illness (with vaccination and antivirals). New Zealand needs to offer more than a single additional dose for younger age groups to improve their protection from Long COVID.

    5. Updating and implementing our pandemic preparedness and response plan

    The Royal Commission of Inquiry into COVID delivered a set of recommendations based on the pandemic experience. Now is the time to implement them.

    Our capacity could be supported through a New Zealand Centre for Disease Control and a pandemic cooperation agreement with Australia. Developing these pandemic capabilities would help to minimise COVID and other respiratory infections, including influenza.

    All of these measures would be supported by a strong, systematic response to the corrosive effects of misinformation and disinformation.

    The past five years have taught us a great deal about pandemic diseases and how to manage them. A key lesson from New Zealand’s highly successful early elimination response was the importance of good evidence-informed leadership and a cohesive plan.

    Such leadership is still needed now to mitigate the harm from COVID which remains an ongoing threat to individual and societal wellbeing.

    Michael Baker’s employer, the University of Otago, has received funding from the Health Research Council of New Zealand and the New Zealand Ministry of Health for research he has carried out on COVID-19 epidemiology, prevention and control.

    Matire Harwood is a member of the Hauora Māori Advisory Committee to the Minister of Health.

    Amanda Kvalsvig, John Donne Potter, and Nick Wilson do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. 5 years on, COVID remains NZ’s most important infectious disease – it still demands a strong response – https://theconversation.com/5-years-on-covid-remains-nzs-most-important-infectious-disease-it-still-demands-a-strong-response-246873

    MIL OSI Analysis – EveningReport.nz –

    February 26, 2025

  • MIL-OSI United Kingdom: Green parliamentarians write to Defence Secretary over defence spending principles

    Source: Green Party of England and Wales

    • Green MPs and peers call for defence spending decisions to be based on “core principles”
    • Ellie Chowns MP calls foreign aid cut announcement “cruel and unncecessary” 
    • Green letter highlights growing security threats relating to climate breakdown, food security and cyber security

    The six Green Party parliamentarians have written to the Defence Secretary John Healey setting out a series of “core principles” they say any decisions about defence spending should be based on [1]. 

    The letter comes as Keir Starmer announced that a rise in the defence budget will be funded by cuts to foreign aid. 

    In the letter, the MPs and peers call on Healey to ensure that all decisions on defence spending “tackle the biggest threats to long term human security, including climate chaos, food insecurity, and cyber-attacks on democracy”. 

    They also urge an increase in spending on diplomacy, peace-building and overseas aid in order to improve our security. 

    Responding to Starmer’s announcement today, Ellie Chowns MP said: 

    “It’s horrifying to see Keir Starmer follow Trump’s lead, gutting our international aid budget to increase defence spending. This is naive populism playing with life-and-death decisions. 

    “How many people will fall ill or die because they cannot access health services; how many more will go hungry? And how many children will be denied an education as a result of this decision? Cutting aid risks making the world more volatile and more dangerous, not safer. Real security means tackling hunger, poverty, and climate chaos. 

    “Taking money from the poorest in the name of defence is both cruel and unnecessary – we could and should instead be taxing the wealthiest who can afford to contribute more. 

    “The idea that the only way to strengthen our defences is by taking from those with the least is immoral. It’s a choice and it’s the wrong one.”

    Notes: 

    1. The full text of the letter reads: 

    Dear John,

    We are writing to set out the importance of any decisions about future defence spending being underpinned by core principles. In an ever more insecure world, made more unstable by the comments and actions of the US President, and with the ongoing need to stand up to Putin, it is vital that genuine long-term stability, safety and security is a priority. Alongside addressing the threats posed by the international political situation, the government must also address the significant and growing security threats relating to climate breakdown, food security and cyber security. 

     As such, we call on you to uphold the following principles:

    • Tackle the biggest threats to long term human security, including climate chaos, food insecurity, and cyber-attacks on democracy
    • Increase spending on diplomacy, peace-building and overseas aid, as key to security and defence policy
    • Don’t cut spending from other departmental budgets to increase defence spending
    • Strengthen our ties with Europe
    • Uphold international law, the rule of law and the right to self-determination
    • Recognise that a global prohibition on nuclear weapons will make everyone safer
    • Address the underlying causes of conflict and insecurity such as poverty, human rights abuses and resource scarcity
    • Restore UK sovereignty by decoupling from reliance on the US
    • Use economic levers such as sanctions on companies still operating in the UK and complicit in Russian fossil fuel exports

     We look forward to your response and to working constructively with the government towards enduring safety and security.

     Yours sincerely, all Green parliamentarians

    MIL OSI United Kingdom –

    February 26, 2025

  • MIL-OSI Canada: Irrigation district penalized for diver fatality

    Source: Government of Canada regional news (2)

    MIL OSI Canada News –

    February 26, 2025

  • MIL-OSI USA: Lab Operator Convicted of $4M Medicare Fraud Scheme

    Source: US State Government of Utah

    A federal jury in Detroit convicted a California man today for his role in defrauding Medicare of over $4 million in fraudulent claims for medically unnecessary urine drug testing for patients receiving pain management treatment.

    According to court documents and evidence presented at trial, Sherif Khalil, 50, of Redondo Beach, conspired with others to submit claims to Medicare for the highest-reimbursing urine drug testing panels, which doctors did not want or order.

    Sherif Khalil operated Spectra Clinical Labs, a toxicology lab located in Gardena, California. As the owner of Spectra, Khalil implemented a scheme to pay marketers a percentage of Medicare reimbursements and incentivize them to obtain doctors’ orders for expensive drug testing panels. Khalil concealed Spectra’s payments to marketers by routing the payments through nominally independent marketing companies that Khalil secretly controlled. To maximize Spectra’s profits and their own commission payments, Spectra’s marketers then trained staff members at doctors’ offices to send Spectra orders for medically unnecessary urine drug tests that doctors did not actually want or authorize. Khalil also knew that orders Spectra received from physician practices were not supported by documentation of medical necessity.

    The medically unnecessary laboratory tests ordered in exchange for illegal kickbacks to marketers caused Medicare to pay more than $4 million to the Spectra Clinical Labs.

    Khalil was found guilty of one count of conspiracy to commit health care fraud and wire fraud and one count of conspiracy to defraud the United States and to pay, offer, receive, and solicit health care kickbacks. Khalil is scheduled to be sentenced on Aug. 7 and faces a maximum penalty of 20 years in prison on the conspiracy to commit health care fraud and wire fraud count and five years in prison on the count for conspiracy to defraud the United States and to pay, offer, receive, and solicit health care kickbacks. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Supervisory Official Antoinette T. Bacon of the Justice Department’s Criminal Division, Special Agent in Charge Cheyvoryea Gibson of the FBI Detroit Field Office, and Special Agent in Charge Mario Pinto of the Department of Health and Human Services Office of Inspector General (HHS-OIG) made the announcement.

    The FBI Detroit Field Office and HHS-OIG investigated the case.

    Trial Attorneys S. Babu Kaza, Jeffrey A. Crapko, and Kelly Warner and Assistant Chief Shankar Ramamurthy of the Criminal Division’s Fraud Section prosecuted the case.

    The Fraud Section leads the Criminal Division’s efforts to combat health care fraud through the Health Care Fraud Strike Force Program. Since March 2007, this program, currently comprised of nine strike forces operating in 27 federal districts, has charged more than 5,800 defendants who collectively have billed federal health care programs and private insurers more than $30 billion. In addition, the Centers for Medicare & Medicaid Services, working in conjunction with HHS-OIG, are taking steps to hold providers accountable for their involvement in health care fraud schemes. More information can be found at www.justice.gov/criminal-fraud/health-care-fraud-unit.

    MIL OSI USA News –

    February 26, 2025

  • MIL-OSI Africa: Eco Atlantic Chief Executive Officer (CEO) to Speak at Invest in African Energy (IAE) 2025 Amid Orange Basin Expansion

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

    PARIS, France, February 25, 2025/APO Group/ —

    Gil Holzman, President & CEO, Eco Atlantic Oil & Gas, will speak at the Invest in African Energy (IAE) Forum 2025 in Paris this May as the company expands its presence in the Orange Basin, offshore South Africa.

    The Canada-headquartered Eco Atlantic has recently expanded its presence in Africa through strategic transactions and exploration initiatives. In June 2024, Eco Atlantic farmed into Block 1 in the Orange Basin, further strengthening its exploration portfolio in the region. The block has extensive 2D and 3D seismic data already completed, with no additional seismic acquisition or well drilling planned during the three-year carried period. During this time, Eco will focus on interpreting and analyzing the existing data to inform its planned Work Program, leveraging its in-house exploration team. The company also holds interests in Blocks 2B and 3B/4B in South Africa, along with four licenses in Namibia.

    IAE 2025 (http://apo-opa.co/3ETVwbj) is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

    Eco Atlantic’s approach centers on exploring low-carbon intensity oil and gas in stable emerging markets close to infrastructure, aiming to deliver material value for its stakeholders while contributing to the energy transition. The company prioritizes efficient exploration strategies that minimize environmental impact while maximizing resource potential.

    By focusing on proven basins with existing infrastructure, Eco Atlantic seeks to accelerate development timelines and enhance economic viability in its operating regions. The upcoming forum will highlight how oil and gas independents like Eco Atlantic are navigating Africa’s evolving energy landscape, driving investment and sustainable resource development.

    MIL OSI Africa –

    February 26, 2025

  • MIL-OSI Security: Lab Operator Convicted of $4M Medicare Fraud Scheme

    Source: United States Attorneys General 1

    A federal jury in Detroit convicted a California man today for his role in defrauding Medicare of over $4 million in fraudulent claims for medically unnecessary urine drug testing for patients receiving pain management treatment.

    According to court documents and evidence presented at trial, Sherif Khalil, 50, of Redondo Beach, conspired with others to submit claims to Medicare for the highest-reimbursing urine drug testing panels, which doctors did not want or order.

    Sherif Khalil operated Spectra Clinical Labs, a toxicology lab located in Gardena, California. As the owner of Spectra, Khalil implemented a scheme to pay marketers a percentage of Medicare reimbursements and incentivize them to obtain doctors’ orders for expensive drug testing panels. Khalil concealed Spectra’s payments to marketers by routing the payments through nominally independent marketing companies that Khalil secretly controlled. To maximize Spectra’s profits and their own commission payments, Spectra’s marketers then trained staff members at doctors’ offices to send Spectra orders for medically unnecessary urine drug tests that doctors did not actually want or authorize. Khalil also knew that orders Spectra received from physician practices were not supported by documentation of medical necessity.

    The medically unnecessary laboratory tests ordered in exchange for illegal kickbacks to marketers caused Medicare to pay more than $4 million to the Spectra Clinical Labs.

    Khalil was found guilty of one count of conspiracy to commit health care fraud and wire fraud and one count of conspiracy to defraud the United States and to pay, offer, receive, and solicit health care kickbacks. Khalil is scheduled to be sentenced on Aug. 7 and faces a maximum penalty of 20 years in prison on the conspiracy to commit health care fraud and wire fraud count and five years in prison on the count for conspiracy to defraud the United States and to pay, offer, receive, and solicit health care kickbacks. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Supervisory Official Antoinette T. Bacon of the Justice Department’s Criminal Division, Special Agent in Charge Cheyvoryea Gibson of the FBI Detroit Field Office, and Special Agent in Charge Mario Pinto of the Department of Health and Human Services Office of Inspector General (HHS-OIG) made the announcement.

    The FBI Detroit Field Office and HHS-OIG investigated the case.

    Trial Attorneys S. Babu Kaza, Jeffrey A. Crapko, and Kelly Warner and Assistant Chief Shankar Ramamurthy of the Criminal Division’s Fraud Section prosecuted the case.

    The Fraud Section leads the Criminal Division’s efforts to combat health care fraud through the Health Care Fraud Strike Force Program. Since March 2007, this program, currently comprised of nine strike forces operating in 27 federal districts, has charged more than 5,800 defendants who collectively have billed federal health care programs and private insurers more than $30 billion. In addition, the Centers for Medicare & Medicaid Services, working in conjunction with HHS-OIG, are taking steps to hold providers accountable for their involvement in health care fraud schemes. More information can be found at www.justice.gov/criminal-fraud/health-care-fraud-unit.

    MIL Security OSI –

    February 26, 2025

  • MIL-OSI USA: In Case You Missed It: Capito Op-Ed: West Virginia on my mind as EPW Committee Chairman

    US Senate News:

    Source: United States Senator for West Virginia Shelley Moore Capito
    WASHINGTON, D.C. – In an op-ed published in the Charleston Gazette-Mail and the Wheeling Intelligencer, U.S. Senator Shelley Moore Capito (R-W.Va.), Chairman of the Senate Environment and Public Works (EPW) Committee, wrote about her priorities as Chairman of the EPW Committee for the 119th Congress, and how they relate to initiatives important to West Virginians.
    “Now, as Chairman of the EPW Committee, I will continue to make certain West Virginia always has a seat at the table. That has been a central motivation of mine since I first came to Congress,” Chairman Capito writes.
    “For West Virginia, this means unleashing the restraints that have delayed our ability to manufacture, build, and capitalize on economic development opportunities that create good-paying jobs. This means continuing to invest in our roads and bridges, improving the quality of our water infrastructure systems, and moving closer to final completion of vital projects like Corridor H. This means restructuring the regulations that stopped necessary investments to develop pipelines and build out reliable energy and electric infrastructure. West Virginia must continue to be an energy leader while still protecting the environment of the communities we live in,” Chairman Capito continues. 
    The full op-ed is available here and below.
    West Virginia on my mind as Environment and Public Works Committee Chairman
    By: U.S. Senator Shelley Moore Capito (R-W.Va.), Chairman of the Senate Environment and Public Works Committee
    The Charleston Gazette-Mail, The Wheeling Intelligencer
    February 18, 2025
    After the American people made their voices heard in November, President Trump is now back in the White House with a Republican majority in both chambers of Congress. In this new Congress, my role has expanded. For the first time, I will serve as the senior-senator from West Virginia, the Chairman of the Senate Republican Policy Committee, and importantly, the Chairman of the Senate Environment and Public Works Committee.
    The Environment and Public Works Committee, or the EPW Committee as it is typically called, is tasked with developing policies to address the infrastructure, economic development, energy, and environment challenges that our country faces. Those are matters that West Virginians know deeply, and my West Virginian roots will serve me well as I take on this role. I have served on the EPW Committee since I was first sworn into the U.S. Senate in 2015, and I understand what it takes to get things done through this panel. 
    Over the last four years as the EPW Committee’s Ranking Member, I worked hard to enact effective solutions for our state while in the minority, which was certainly a challenge. But through these efforts, I was able to achieve important successes. Now, as Chairman of the EPW Committee, I will continue to make certain West Virginia always has a seat at the table. That has been a central motivation of mine since I first came to Congress.
    For West Virginia, this means unleashing the restraints that have delayed our ability to manufacture, build, and capitalize on economic development opportunities that create good-paying jobs. This means continuing to invest in our roads and bridges, improving the quality of our water infrastructure systems, and moving closer to final completion of vital projects like Corridor H. This means restructuring the regulations that stopped necessary investments to develop pipelines and build out reliable energy and electric infrastructure. West Virginia must continue to be an energy leader while still protecting the environment of the communities we live in.
    One of my main priorities as Chairman is to unshackle American energy, including West Virginia’s natural resources like coal and natural gas. To do this, we must address unnecessary barriers under our environmental laws, which will also help us get back to building the manufacturing, farming, housing, and other projects that will drive our economy forward while still protecting public health and the environment. I will also work with President Trump to address the broad and, in some cases outright illegal, regulations from the Biden administration that harmed our communities and stifled innovation. We must work in tandem with the Trump administration to halt the endless regulatory costs imposed on Main Street America.
    Additionally, I will work to repair and modernize our transportation and water infrastructure. The authorization for federal roads and bridges programs and funding, as well as the authorization for the drinking water and wastewater programs, expires in 2026. Reauthorizing these programs, which are critical to West Virginia and the nation, is a top priority for me as the Chairman of the EPW Committee.
    Finally, the EPW Committee has an important role in approving the Trump administration’s nominees for key positions at federal agencies, and impacting the policies these agencies pursue. I will work to swiftly confirm high quality nominees within the EPW Committee’s jurisdiction, so they can get to work undoing the regulatory damage against the American economy created by the Biden administration.
    If you know me, you know that West Virginia is always in the front of my mind. I am a proud, lifelong native of the Mountain State, and it is the honor of my life to represent our people in the U.S. Senate. I look forward to addressing the challenges ahead with my brand of eternal optimism, and to delivering solutions on the issues that matter most to the people of our great state.
    U.S. Senator Shelley Moore Capito is the Chairman of the Senate Environment and Public Works Committee, and also serves on the Appropriations, Commerce, and Rules Committees. She is the Chairman of the Senate Republican Policy Committee, making her the fourth highest ranked Senate Republican.

    MIL OSI USA News –

    February 26, 2025

  • MIL-OSI USA: Welch Statement on Trump and Musk’s Continued Attacks on USAID

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    WASHINGTON, D.C. – U.S. Senator Peter Welch (D-Vt.) released the following statement on the Trump Administration and Elon Musk’s continued attacks on the U.S. Agency for International Development:  
    “USAID supports programs that serve U.S. national interests overseas, but it is farmers here in America who grow the corn, wheat, beans, and peanuts. It is dairy farmers in Vermont who produce the powdered milk that USAID uses to feed millions of hungry children in Africa, Central America, and Asia. American companies manufacture the generators, water pumps, trucks, and computers for USAID’s programs, and American workers—in blue states and red states—implement those programs. Thanks to Elon Musk—an unelected billionaire—those American farmers and companies have lost their business with USAID, and workers are losing their jobs.  
    “If Donald Trump and Elon Musk were serious about rooting out wasteful spending, they would not have stopped programs in countries like Somalia where USAID is a key partner in counterterrorism efforts with the U.S. military. They would not have shut down the Famine Early Warning System, risking medicines and American-grown food aid to spoil in the supply chain. They would not have put more than a half dozen USAID lawyers on leave, including its ethics lawyers. They would not delay payment of invoices for work already completed on behalf of the U.S. government, incurring needless fees for violating the Prompt Payment Act. And they would not be incurring interest on late payments owed, penalties for early contract terminations, and legal fees. 
    “If this were truly about preventing waste, if this were truly about rooting out corruption, they would not empty U.S. embassies, leaving virtually no one trained in financial management and oversight. 
    “If there was any truth to their hyperbolic claims of corruption, for which DOGE has offered no credible evidence, they should have asked the USAID Inspector General to investigate rather than fire him without cause. And if they actually did discover programs they don’t support, they could have reprogramed the funds consistent with Congressional requirements and past practice. They also could have asked Congress to change the law. 
    “What is taking place right now is not about conducting a review, policy realignment, or addressing waste, fraud, and abuse. The Trump Administration’s own actions have made every one of those goals impossible to achieve.” 

    MIL OSI USA News –

    February 26, 2025

  • MIL-OSI Canada: Tax credit fuels bioprocessing industry investment

    The province’s inviting and tax-friendly business environment, free and fast-flowing economy and abundant agricultural resources make it one of the best places to do business in North America. In addition, the Agri-Processing Investment Tax Credit (APITC), launched in spring 2023, helps to attract investment that will further diversify Alberta’s agriculture industry.

    The most recent example of a company choosing to grow its business in Alberta is Canary Biofuels, which has qualified for the APITC by constructing a cold press oilseed crushing plant in Lethbridge. Canary Biofuels is investing $18 million in the project that is expected to create 40 permanent and 25 temporary jobs, process 200,000 tonnes of seed per year and produce value-added products such as canola oil and meal. Through the Agri-Processing Investment Tax Credit, Alberta’s government has granted Canary Biofuels conditional approval for a tax credit estimated at $1.7 million.

    “Alberta is an agriculture powerhouse with a thriving food and bioprocessing sector. The Agri-Processing Investment Tax Credit has made the province a preferred destination for large-scale agri-processing investments and encourages companies like Canary Biofuels to invest in our province, create jobs and diversify the economy.”

    RJ Sigurdson, Minister of Agriculture and Irrigation

    “The Agri-Processing Investment Tax Credit is a prime example of how our government is strengthening our agriculture industry by supporting businesses, like Canary Biofuels, to grow, create jobs, and continue to help drive our economy forward.”

    Nathan Neudorf, MLA for Lethbridge-East

    The APITC provides a 12 per cent non-refundable, non-transferable tax credit when businesses invest $10 million or more in a project to build or expand a value-added agri-processing facility in Alberta. The program is open to any food manufacturers and bioprocessors that add value to commodities like grains or meat or turn agricultural by-products into new consumer or industrial goods.

    Canary Biofuels is an agricultural processor that produces feedstock for the renewable fuels industry as well as high-value products for the livestock feed industry. It is headquartered in Calgary with a process facility in Lethbridge.

    “Canary would like to thank the Government of Alberta for its support. Programs like the Agri-Processing Investment Tax Credit are essential for smaller companies like Canary to access capital. This project will support jobs and indirectly support thousands of Albertan and Canadian oilseed farmers by providing more localized offtake for their crops, including off-spec materials.”  

    George Wadsworth, CEO Canary Biofuels Inc.

    Alberta’s agri-processing sector is the second-largest manufacturing industry in the province and the biofuel industry plays an important role in the sector, generating millions in annual economic impact and creating thousands of jobs. Alberta continues to be an attractive place for agricultural investment due to its agricultural resources, one of the lowest tax rates in North America, a business-friendly environment, and a robust transportation network to connect with international markets.

    Quick facts

    • On Feb. 7, 2023, government announced the introduction of the Agri-Processing Investment Tax Credit through Budget 2023.
    • On Apr. 24, 2023, Alberta’s Agri-Processing Investment Tax Credit began accepting applications from agri-processing corporations for conditional approval.
    • As of Feb. 11, 2025, 16 corporations had applied to the program for projects worth about $1.63 billion in new investment in Alberta’s agri-processing sector.
    • So far, 10 corporations have received conditional approval under the program. Each one must submit progress reports on their project, then apply for a tax credit certificate when the project is complete.
    • Canary Biofuel’s crush process incorporates a proprietary cold press design that allows the processing of all varieties and qualities of seed while producing a super degummed quality oil suitable for animal feed, renewable diesel and renewable aviation biofuels. In addition, the non-solvent process produces a high-value animal feed ingredient.
    • The current crush plant in Lethbridge has been operating at 50,000 MT/year and has just completed the first phase of expansion at 80,000 MT/Y with following expansion phases of 120,000 and finally 200,000 MT/Y to be completed sometime in 2026.
    • Canary Biofuel currently employs about 25 people in Canada and at full expansion it is expected they will employ more than 40.

    Related information

    • Agri-Processing Investment Tax Credit

    Related news

    • Tax credit beefs up burger patty production (July 11, 2024)
    • Tax credit mooooves Alberta’s dairy industry forward (June 19, 2024)
    • Tax credit fuels investments in bioprocessing industry (April 22, 2024)
    • Tax credit sprouts more little potato products (Feb. 22, 2024)
    • New tax credit opens the door to big investments (April 24, 2023)
    • Capitalizing on value-added agriculture (Feb. 7, 2023)

    MIL OSI Canada News –

    February 26, 2025

  • MIL-OSI Canada: Investor Alert: BRC Union, BRC Management Services Ltd., and BRC Group Are Not Registered

    Source: Government of Canada regional news

    Released on February 25, 2025

    The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors of the online entity known as BRC Union, also known as BRC Management Services Ltd. and BRC Group.

    “Saskatchewan residents should check the registration status of any investment entity at aretheyregistered.ca as the first step before considering investing,” FCAA Securities Division Executive Director Dean Murrison said. “We want Saskatchewan investors to know who they are investing with so they can make informed financial decisions. Checking registration is the quickest and easiest way to ensure who you work with is reputable.”

    BRC Union, BRC Management Services Ltd., and BRC Group claim to offer Saskatchewan residents trading opportunities, including stocks, commodities, cryptocurrencies and currency pairs.

    There may be other businesses with the same or similar names to BRC Union, BRC Management Services Ltd., and BRC Group. This alert does not apply to any such businesses. This alert applies to the online entity using the website “brc-ca com” (this URL has been manually altered so as not to be interactive).

    BRC Union, BRC Management Services Ltd., and BRC Group are not registered with the FCAA to trade or sell securities or derivatives in Saskatchewan. The FCAA cautions investors and consumers not to send money to companies that are not registered in Saskatchewan, as they may not be legitimate businesses. 

    If you have invested with BRC Union, BRC Management Services Ltd., and BRC Group or anyone claiming to be acting on their behalf, contact the FCAA’s Securities Division at 306-787-5936.

    In Saskatchewan, individuals or companies need to be registered with the FCAA to trade or sell securities or derivatives. The registration provisions of The Securities Act, 1988, and accompanying regulations are intended to ensure that only honest and knowledgeable people are registered to sell securities and derivatives and that their businesses are financially stable. 

    Tips to protect yourself:

    • Always verify that the person or company is registered in Saskatchewan to sell or advise about securities or derivatives. To check registration, visit The Canadian Securities Administrators’ National Registration Search at aretheyregistered.ca.
    • Know exactly what you are investing in. Make sure you understand how the investment, product, or service works.
    • Get a second opinion and seek professional advice about the investment.
    • Do not allow unknown or unverified individuals to remotely access your computer.

    -30-

    For more information, contact:

    MIL OSI Canada News –

    February 26, 2025

  • MIL-OSI USA: Press Release: FDIC-Insured Institutions Reported Return on Assets of 1.11 Percent and Net Income of $66.8 Billion in the Fourth Quarter

    Source: US Federal Deposit Insurance Corporation FDIC

    Full-Year ROA and Net Income Improved From 2023: The banking industry reported full-year 2024 net income of $268.2 billion, up $14.1 billion (5.6 percent) from the prior year, a level still well above the pre-pandemic average.[1]  The aggregate ROA ratio increased by three basis point to 1.12 percent.  The increases in net income and ROA occurred primarily because one-time events in 2023 and 2024 led to lower noninterest expense, higher noninterest income, and lower realized securities losses in 2024.

    Community banks reported full-year 2024 net income of $25.9 billion, down $624 million (2.4 percent) from the prior year.  The decline was caused by higher noninterest expense, up $3.9 billion (6.1 percent), and higher provision expense, up $671 million (20 percent), which offset the increases in net interest income, up $2.2 billion (2.7 percent), and noninterest income, up $1.1 billion (5.9 percent). Community banks reported full-year pre-tax ROA of 1.14 percent, down eight basis points from the prior year.

    Quarterly ROA and Net Income Increased From the Prior Quarter, Driven By Higher Net Interest Income:  Fourth quarter net income for the 4,487 FDIC-insured commercial banks and savings institutions increased $1.5 billion (2.3 percent) from the prior quarter to $66.8 billion.  The quarterly increase in net income was largely driven by an increase in net interest income, as declining short-term interest rates reduced interest expense more than interest income.

    The banking industry reported an aggregate ROA of 1.11 percent in fourth quarter 2024, up 2 basis points from one quarter earlier and up 50 basis points from one year earlier.

    Community Bank Net Income Decreased Quarter Over Quarter:  Quarterly net income for the 4,046 community banks insured by the FDIC was $6.4 billion in the fourth quarter, a decrease of $441 million (6.5 percent) from third quarter 2024.  Higher noninterest expense (up $931 million, or 5.4 percent) and realized securities losses of $565.9 million more than offset higher net interest income (up $774 million, or 3.6 percent) and higher noninterest income (up $187 million, or 3.7 percent).  The community bank pretax ROA decreased 12 basis points from last quarter to 1.09 percent.

    The Net Interest Margin Rose Across All Asset-Size Groups in the Quarterly Banking Profile:  The industry reported a quarter-over-quarter increase in net interest income of $3.8 billion as the net interest margin (NIM) increased five basis points to 3.28 percent.  All asset-size groups in the Quarterly Banking Profile reported a higher NIM in the fourth quarter.  The industry’s fourth-quarter NIM was three basis points above the pre-pandemic average NIM.  The community bank NIM of 3.44 percent increased nine basis points quarter over quarter, increasing for the third consecutive quarter, but is still below the pre-pandemic average of 3.63 percent.

    Asset Quality Metrics Remained Generally Favorable, Though Weakness in Certain Portfolios Persisted:  Past-due and nonaccrual (PDNA) loans, or loans that are 30 or more days past due or in nonaccrual status, increased six basis points from the prior quarter to 1.60 percent of total loans.  The industry’s PDNA ratio is still below the pre-pandemic average of 1.94 percent.  The PDNA ratio for non-owner occupied commercial real estate (CRE) loans declined five basis points to 2.02 percent, but the ratio remains 175 basis points above the pre-pandemic average.  Despite declining slightly in the fourth quarter, the PDNA rate for non-owner occupied CRE loans remains elevated, largely driven by office loans at banks with more than $250 billion in assets.  However, these banks tend to have lower concentrations of such loans in relation to total assets and capital than smaller institutions, mitigating the overall risk.

    The industry’s net charge-off ratio increased three basis points to 0.70 percent from the prior quarter and is five basis points higher than the year-ago quarter.  This ratio is 22 basis points above the pre-pandemic average. The credit card net charge-off ratio was 4.57 percent in the fourth quarter, up nine basis points quarter over quarter and 109 basis points above the pre-pandemic average.

    Loan Balances Increased Modestly From the Prior Quarter and a Year Ago: Total loan and lease balances increased $105.0 billion (0.8 percent) from the previous quarter.  The largest portfolio increases were reported in “all other” loans and loans to non-depository financial institutions, largely due to reclassifications following the finalization of changes to how certain loan products should be reported.  Reclassifications also likely caused declines in other loan categories, particularly commercial and industrial (C&I) and consumer loans.  In addition to these reclassifications, credit card loans and growth in loans to non-depository financial institutions contributed to the industry’s quarterly loan growth.  The industry’s annual rate of loan growth remained steady in the fourth quarter at 2.2 percent.

    Community bank loan growth was more robust and widespread than the industry. Total loans at community banks increased 1.3 percent from the prior quarter and 5.1 percent from the prior year, led by increases in nonfarm nonresidential CRE and residential mortgage portfolios.

    Domestic Deposits Increased From Last Quarter, Primarily Due to Higher Uninsured Deposits:  Domestic deposits increased $214.0 billion (1.2 percent) from third quarter 2024.  Both savings and transaction deposits increased from the prior quarter, with declines in time deposits partially offsetting the increases. Brokered deposits decreased for the fourth straight quarter, down $46.0 billion (3.6 percent) from the prior quarter.

    Estimated insured deposits increased slightly this quarter (up $39.1 billion, or 0.4 percent) while estimated uninsured domestic deposits increased $218.5 billion (3.0 percent). Growth in estimated uninsured deposits was widespread; most banks (60.1 percent) reported an increase in such deposits from the prior quarter.

    The Deposit Insurance Fund Reserve Ratio Increased Three Basis Points to 1.28 Percent:  In the fourth quarter, the Deposit Insurance Fund balance increased $4.0 billion to $137.1 billion.  The reserve ratio increased three basis points during the quarter to 1.28 percent.

    The Total Number of Insured Institutions Declined:  The total number of FDIC-insured institutions declined by 30 during the quarter to 4,487.  During the quarter, four banks opened, one bank failed, one bank failed after quarter end and did not file a Call Report, three banks did not file a Call Report after selling a majority of their assets to credit unions, one bank otherwise closed, and 28 institutions merged with other banks.

    ATTACHMENTS:

    Full Statement on Fourth Quarter and Full-Year Results with Charts
    Webpage with Charts and Data for Fourth Quarter and Full-Year Results 
    Statement by Acting Chairman Travis Hill on Problem Bank Assets

    # # #

    MEDIA CONTACT: 
    Julianne Breitbeil
    202-340-2043
    JBreitbeil@FDIC.gov

    [1] The “pre-pandemic average” refers to the period of first quarter 2015 through fourth quarter 2019 and is used consistently throughout this press release.

    MIL OSI USA News –

    February 26, 2025

  • MIL-OSI USA: Attorney General Alan Wilson co-leads 38-state coalition urging Congress to take action against rise in organized retail crimeRead More

    Source: US State of South Carolina

    (COLUMBIA, S.C.) – South Carolina Attorney General Alan Wilson co-led a bipartisan 38-state and territory coalition in urging Congress to take action to address the rise in organized retail crime across the country.  

    “Organized retail crime is not only resulting in higher prices and fewer choices for consumers, but these thugs are physically assaulting employees,” Attorney General Wilson said. “Stores have been forced to close because money is walking out the door and businesses are concerned about the safety and security of their patrons and employees.”

    Organized retail crime has contributed to financial losses totaling over $121 billion in the U.S., and 76 percent of retail asset protection managers report their employees have suffered from violence at the hands of an organized retail criminal. Cargo theft remains a primary component of organized retail crime nationwide – disrupting supply chains and acting as an inflationary pressure on the price of everything from baby formula to clothing.  

    During the 118th Congress, the House and Senate introduced H.R.895/S.140 – Combating Organized Retail Crime Act of 2023 and S. 139 – Organized Retail Crime Center Authorization Act of 2023. This legislation would provide the necessary resources at the state and federal levels to bring the organizations and individuals behind this nationwide problem to justice. Now, the coalition is urging the 119th Congress to re-introduce this bill to include increased federal penalties for supply chain thefts to act as a strong deterrent against the organized theft of goods in transit.

    Several attorneys general have formed task forces and created prosecution units to combat this growing problem. In their letter, the coalition notes that legislation proposed in the 118th Congress would expand upon and synchronize state and federal efforts with the creation of an Organized Retail Crime Coordination Center at the Department of Homeland Security, facilitating the information sharing necessary to address the complex cross-border nature of organized retail crime. 

    Joining Attorney General Wilson in co-leading this letter are the attorneys general of Connecticut, Georgia, and Illinois, along with the attorneys general of Alabama, Alaska, Arizona, Arkansas, Delaware, District of Columbia, Florida, Hawaii, Iowa, Kentucky, Louisiana, Maryland, Michigan, Minnesota, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, U.S. Virgin Islands, Utah, Vermont, Virginia, Washington, and West Virginia. 

    Find a copy of the letter here. 

    MIL OSI USA News –

    February 26, 2025

  • MIL-OSI USA: Attorney General Bonta Issues Statement on the United States District Court for the Northern District of California’s Ruling to Remand ExxonMobil Plastics Lawsuit to State Court

    Source: US State of California

    Monday, February 24, 2025

    Contact: (916) 210-6000, agpressoffice@doj.ca.gov

    OAKLAND – California Attorney General Rob Bonta today issued the following statement regarding the United States District Court for the Northern District of California’s ruling granting the California Department of Justice (DOJ)’s motion to remand its case against ExxonMobil to state court:

    “ExxonMobil has been deceiving the public to convince us that plastic recycling could solve the plastic waste and pollution crisis when they knew this wasn’t possible. We are pleased with the Court’s decision to remand our plastic deception case against ExxonMobil to state court where it rightfully belongs. At the California Department of Justice, we stand ready to litigate this case, which directly affects California’s laws and its residents, and hold ExxonMobil fully accountable for its role in actively creating and exacerbating the plastic pollution crisis through its campaign of deception.”  

    BACKGROUND

    In 2022, the Attorney General launched an investigation into the fossil fuel and petrochemical industries for their role in causing the global plastic waste and pollution crisis. As part of its investigation, the DOJ issued investigative subpoenas to ExxonMobil and related plastics industry groups to seek details about the nature and extent of the company’s deception efforts. The DOJ has actively been conducting the investigation into the petrochemical industry, including subpoenas that uncovered never-before-seen documents, culminating in the lawsuit against ExxonMobil filed in the Superior Court of San Francisco County, a California state court, last year. 

    On November 1, 2024, ExxonMobil filed a notice of removal to federal court, the U.S. District Court for the Northern District of California, in this case. On December 9, 2024, the California Department of Justice filed a motion to remand in the federal removal action. In its decision today, the District Court granted DOJ’s motion and remanded the case against ExxonMobil to state court. 

    A copy of the ruling can be found here.

    # # #

    MIL OSI USA News –

    February 26, 2025

  • MIL-OSI: ASM announces fourth quarter 2024 results

    Source: GlobeNewswire (MIL-OSI)

    Almere, The Netherlands
    February 25, 2025, 6 p.m. CET

    Eighth consecutive year of double-digit full-year growth, outperforming WFE in 2024

    ASM International N.V. (Euronext Amsterdam: ASM) today reports its Q4 2024 results (unaudited).

    Financial highlights

    € million Q4 2023 Q3 2024 Q4 2024
    New orders 677.5 815.3 731.4
    yoy change % at constant currencies (14%) 30% 8%
           
    Revenue 632.9 778.6 809.0
    yoy change % at constant currencies (7%) 26% 27%
           
    Gross profit margin % 47.2  % 49.4 % 50.3  %
    Adjusted gross profit margin 1 47.9  % 49.4 % 50.3  %
           
    Operating result 131.5 215.2 222.3
    Operating result margin % 20.8  % 27.6  % 27.5  %
           
    Adjusted operating result 1 141.0 219.9 227.0
    Adjusted operating result margin 1 22.3  % 28.2  % 28.1  %
           
    Net earnings 90.9 127.9 225.8
    Adjusted net earnings 1 100.3 133.6 231.5

    1 Adjusted figures are non-IFRS performance measures. Refer to Annex 3 for a reconciliation of non-IFRS performance measures. 

    • New orders of €731 million in Q4 2024 increased YoY by 8% at constant currencies (also 8% as reported), with the increase again mainly driven by solid demand for gate-all-around (GAA) and high-bandwidth memory (HBM) DRAM.
    • Revenue of €809 million increased by 27% at constant currencies (increased by 28% as reported) from Q4 of last year and at the upper end of the guidance (€770-810 million).
    • YoY improvement in adjusted gross profit margin is due to strong mix.
    • Adjusted operating result margin increased to 28.1%, compared to 22.3% in Q4 2023 mainly due to higher gross margin and a moderation in SG&A, partially offset by higher investments in R&D.
    • Revenue for Q1 2025 is expected to be in the range of €810-850 million.

    Comment

    “ASM continued to deliver a solid performance in 2024. Sales increased by 12% at constant currencies, outperforming the wafer fab equipment (WFE) market which increased by a mid-single digit percentage in 2024. This marks our company’s eighth consecutive year of double-digit growth.” said Hichem M’Saad, CEO of ASM. “Revenue in Q4 2024 increased to €809 million, up 27% year-on-year at constant currencies and at the top end of our guidance of €770-810 million. The revenue increase in Q4 was driven by higher sales in leading-edge logic/foundry. Q4 bookings of €731 million increased, at constant currencies, by 8% from Q4 2023. Bookings were down from the level in Q3 2024, which was in part explained by order pull-ins from Q4 2024 to Q3 2024, as communicated last quarter. GAA-related orders increased strongly from Q3 to Q4, but this was offset by a drop in China demand. The gross margin came in at 50.3% in Q4 2024. Operating margin of 28.1% increased by nearly 6% points compared to Q4 2023.

    Growth in the WFE market was uneven in 2024: AI-related segments continued to increase strongly, but other parts of the market showed a mixed performance. For ASM, this meant strong momentum in our GAA-related applications. With the mix shifting from pilot-line to high-volume manufacturing, both quarterly GAA-related sales and orders increased strongly in the course of 2024.  We also saw a surge in demand for HBM-related, high-performance DRAM applications in 2024. This fueled a rebound in our total memory sales from a relatively low level of 11% in 2023 to a very strong level of 25% in 2024. Sales from the Chinese market remained strong in 2024, but dropped from the first half to the second half and also from Q3 to Q4, as expected. Sales in the power/analog/wafer market dropped by a significant double-digit percentage in 2024, reflecting the cyclical slowdown in the automotive and industrial end markets. Our SiC Epi increased by a mid-single digit percentage in 2024. While this was below our prior expectation of double-digit growth, we believe it was still a robust performance in view of significant weakening of the SiC market in 2024. 

    Financial results were again strong in 2024. Adjusted gross margin increased to 50.5% in 2024, supported by mix, a continued substantial contribution from the Chinese market, and improvements in our operations to reduce costs. In 2024, adjusted operating profit increased by 17%. We further stepped up adjusted net R&D spending (+20%) in view of our growing pipeline of opportunities, while the increase in adjusted SG&A expenses moderated (+3%), reflecting ongoing cost control. Free cash flow increased by 23% in 2024 to a record-high level of €548 million. 

    We remain on track towards our strategic targets and continue to invest in our people, in innovation and expansion, including in our planned new facilities in Hwaseong, Korea, and Scottsdale, Arizona.  We also made further strides in accelerating sustainability. We published our Climate Transition Plan last year, and, as a first milestone, we achieved our target of 100% renewable electricity in 2024, which contributed to a 52% drop in our combined Scope 1 and 2 GHG emissions.”

    Outlook

    Market conditions continue to be mixed looking into 2025, with WFE spending expected to increase slightly. Leading-edge logic/foundry is expected to show the highest growth in 2025. There have been some further shifts in capex forecasts among customers in this segment, but overall our forecast for a substantial increase in GAA-related sales in 2025 is unchanged. In memory, we expect healthy sales in 2025, supported by continued solid demand for HBM-related DRAM, although it is too early to tell if memory sales will be at the same very strong level as in 2024. The power/analog/wafer segments are still in a cyclical correction with no signs of a recovery in the near term. In SiC Epi, the outlook further weakened. Taking into account the recently announced new U.S. export controls and as communicated in our press release of December 4, 2024, our China revenue is expected to decrease in 2025, with equipment sales from this market falling in a range of low-to-high 20s percentage of total ASM revenue.

    We confirm our target for revenue in a range of €3.2-3.6 billion in 2025, but it is too early to provide a more specific forecast due to market uncertainty and as visibility for the second half of the year is still limited.
    At constant currencies, we expect revenue for Q1 2025 to be in a range of €810-850 million, with a projected further increase in Q2 compared to Q1.

    Share buyback program

    ASM announces today that its Management Board authorized a new repurchase program of up to €150 million of the company’s common shares within the 2025/2026 time frame. This repurchase program is part of ASM’s commitment to use excess cash for the benefit of its shareholders.

    Dividend proposal

    ASM will propose to the forthcoming 2025 Annual General Meeting on May 12, 2025, to declare a regular dividend of €3.00 per common share over 2024, up from €2.75 per common share over 2023.

    Modification in spares & service revenue reporting definition

    Effective 2025, ASM will include installation and qualification revenue as part of spares & services revenue aligning with our business organization structure at ASM. Further details of the quarterly and full-year impact on 2024 revenue can be found in annex 4.

    About ASM

    ASM International N.V., headquartered in Almere, the Netherlands, and its subsidiaries design and manufacture equipment and process solutions to produce semiconductor devices for wafer processing, and have facilities in the United States, Europe, and Asia. ASM International’s common stock trades on the Euronext Amsterdam Stock Exchange (symbol: ASM). For more information, visit ASM’s website at www.asm.com.

    Cautionary note regarding forward-looking statements: All matters discussed in this press release, except for any historical data, are forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These include, but are not limited to, economic conditions and trends in the semiconductor industry generally and the timing of the industry cycles specifically, currency fluctuations, corporate transactions, financing and liquidity matters, the success of restructurings, the timing of significant orders, market acceptance of new products, competitive factors, litigation involving intellectual property, shareholders or other issues, commercial and economic disruption due to natural disasters, terrorist activity, armed conflict or political instability, changes in import/export regulations, epidemics, pandemics and other risks indicated in the company’s reports and financial statements. The company assumes no obligation nor intends to update or revise any forward-looking statements to reflect future developments or circumstances.

    This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Quarterly earnings conference call details

    ASM will host the quarterly earnings conference call and webcast on Wednesday, February 26, 2025, at 3:00 p.m. CET.

    Conference-call participants should pre-register using this link to receive the dial-in numbers, passcode and a personal PIN, which are required to access the conference call.

    A simultaneous audio webcast and replay will be accessible at this link.

    Contacts  
    Investor and media relations Investor relations
    Victor Bareño Valentina Fantigrossi
    T: +31 88 100 8500 T: +31 88 100 8502
    E: investor.relations@asm.com E: investor.relations@asm.com

    The MIL Network –

    February 26, 2025

  • MIL-OSI: Clicks brings its award-winning iPhone keyboard case to Google, Motorola and Samsung smartphones

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Feb. 25, 2025 (GLOBE NEWSWIRE) — Clicks Technology today announced the first three Clicks Keyboards for Android smartphones. Building on the popularity of Clicks for iPhone introduced last year, Clicks extends a premium typing experience, more screen real estate and keyboard shortcuts to owners of Google Pixel, Motorola Razr and Samsung Galaxy smartphones. Available for pre-order today, Clicks for Android smartphones will start shipping beginning in April.

    Watch the launch video.

    “Android phones are loved for the choice over hardware, software and experience they offer,” said Michael Fisher, Clicks co-founder and YouTube tech reviewer (MrMobile) with 1.2 million subscribers. “Clicks gives the Android community more choice over how to type, navigate and take action with a smart accessory that’s as fun as it is functional.”

    Clicks for Motorola Razr redefines the fun and functionality of flip phones

    Clicks unlocks a new way to use the Motorola Razr. Text, email, chat and game without needing to flip open the phone by combining the size and smarts of the external display with a real keyboard. Compatible with Motorola Razr and Razr+ (2024). Available in two colors: Electric (blue) and Onyx (black).

    Clicks for Pixel: More Control. More Screen. More Personalization.

    Clicks enhances the Pixel with tactile buttons, a full-screen experience, and powerful shortcuts that enable productivity and personalization. Plus, Clicks gives Pixel support for wireless charging with a strong magnetic array built into the enclosure. Compatible with Pixel 9 Pro and Pixel 9. Available in two colors: Surge (high-vis yellow-green) and Onyx (black).

    Clicks for Samsung Galaxy: Unlock the Full Potential of Galaxy

    Clicks supercharges the Samsung Galaxy with a premium typing experience engineered for speed and accuracy. Maximize every bit of the S25’s 6.2” display by moving the virtual keyboard off screen. Put Samsung AI at your fingertips with keyboard shortcuts. Compatible with Samsung Galaxy S25. Available in two colors: Pinot (red) and Onyx (black).

    Expanding the audience for Clicks

    With over 100,000 keyboards sold in more than 100 countries, Clicks is changing the way people use their smartphones.

    “Over the last year we’ve heard stories from customers about how Clicks is helping them do more from their phone without waiting to get back to their desk,” said Jeff Gadway, Clicks co-founder and CMO. “With customers ranging from the CEOs of Fortune 100 companies, best-selling authors and world leaders to students, entrepreneurs and mobile professionals, we’re proud to be helping people take action.”

    Adding a Clicks Keyboard to a Pixel, Razr or Galaxy smartphone combines the benefits of buttons with the power of Android in a seamless experience.

    • Premium Typing Experience. Type with speed and confidence with ergonomically designed keys that provide satisfying tactile feedback.
    • 50% More Screen. By moving the keyboard off the display Clicks frees up screen space for apps and content.
    • Keyboard Shortcuts. Launch your favourite apps and navigate Android.
    • Gemini Key. Launch AI features at the push of a button.
    • Keyboard Backlight. Backlit keys make typing in low light a breeze.
    • Clicks App. Customize and personalize your typing experience.
    • Charge Your Phone as Normal. Clicks connects through USB-C so there’s no battery to charge or bluetooth connection to pair.
    • Easy on and off. Add a compact, lightweight keyboard when needed, or leave it on all the time.
    • Protection & personality. Clicks protects your phone and grabs attention wherever you go.

    Launch Pricing and Availability

    • Google Pixel 9 and Pixel 9 Pro: Pre-orders begin February 25 at an introductory price of USD $99, available until March 21. After this date, the price increases to USD $139. Orders will begin shipping at the end of April.
    • Motorola Razr+ and Razr (2024): Reservations open February 25 for USD $49 to secure a special launch price of USD $99 until March 21. After March 21, pre-orders remain available for USD $49, but the final price increases to USD $139. Shipping starts in late May.
    • Samsung Galaxy S25: Reservations open starting February 25 for USD $49 to lock in a limited-time USD $99 launch price until March 21. After this period, pre-orders remain open for USD $49, with the final price increasing to USD $139. Shipping begins in June.

    Order Clicks for Android exclusively at Clicks.tech. Follow Clicks for updates on Instagram (@ClicksKeys) and on YouTube (@ClicksKeys).

    About Clicks Technology:
    Clicks designs and manufactures innovative smart accessories that enhance the modern mobile experience. Founded by a team of industry veterans with decades of experience at some of the world’s leading tech brands, Clicks products blend form and function to give customers clever new ways to engage with technology. For more information on Clicks, visit clicks.tech.

    MEDIA CONTACT
    Praytell – clicks@praytellagency.com

    DISTRIBUTOR PARTNER CONTACT
    Johnathan Young – partners@clicks.tech

    SOCIALS
    Instagram – @ClicksKeys
    YouTube – @ClicksKeys

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/1212c169-bdd2-46bb-92c8-58680d6e5889
    https://www.globenewswire.com/NewsRoom/AttachmentNg/25e30f1c-6488-437c-ab95-7b3934c4de34
    https://www.globenewswire.com/NewsRoom/AttachmentNg/b6c0afc6-895c-4419-a2d5-2f77536d8d1e
    https://www.globenewswire.com/NewsRoom/AttachmentNg/b5234ee4-fcb5-4303-89f4-b6428b584fd2
    https://www.globenewswire.com/NewsRoom/AttachmentNg/827a5d2e-6530-4238-9506-199b324b6323

    A video accompanying this announcement is available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/de1db1fd-6a66-4160-82c0-913f1a7f59a3

    The MIL Network –

    February 26, 2025

  • MIL-OSI Global: Child given detention for getting less than 90% on a test – psychology shows there are far better ways to motivate students

    Source: The Conversation – UK – By Hannah Wilkinson, Lecturer in Educational Psychology, University of Manchester

    Connect Images – Legacy/Shutterstock

    An 11-year-old at a school in Essex was recently reported to have been given a detention for not achieving 90% on his maths homework (he got 81%). This measure by his school comes in an environment when schools in England seem to be increasingly reaching for severe methods of punishment: more and more children are being suspended or excluded. But the 11-year-old’s detention suggests a use of sanctions not only to deal with bad behaviour, but also to drive improved academic achievement.

    While this is a particularly overt example, many schools adopt strict behavioural policies in part to improve results. And the 2019 Timpson review of school exclusion in England reported allegations that a small number of schools were excluding pupils in order to boost the school’s academic attainment by removing them.

    But research in educational psychology shows there are better ways to motivate learners than the threat of sanctions.

    Since the 1988 Education Reform Act, which offered parents preference for their children’s schools and placed increased emphasis on measurable data, the education system has become a market in which schools compete against one another.

    Today, you can view a host of statistics for schools. These include how much progress students have made since joining secondary school and how many students received a pass in English and maths GCSE, as well as the percentage of students who have stayed in education or gained employment after leaving Year 11. These results can be compared with local schools and the national average.

    While the introduction of this visible data was introduced in a bid to improve schools and student outcomes, perhaps it is time to take stock of how this has changed the ways schools operate.

    The toll on schools and pupils

    The costs for schools failing to deliver on these statistics are high. They have included increased Ofsted inspections, the removal of the headteacher and the forced move of a school from local authority control into an academy trust.

    These accountability measures may lead schools to more punitive, pressuring approaches in order to push students to work hard to achieve good results, as well as to remove disruptive pupils from classrooms so as not to jeopardise the attainment of others.

    The headteacher of the boy given a detention over his maths score told the BBC that the school was under pressure after receiving a “requires improvement” rating from Ofsted.

    But increasing the focus on achievement and punishing students when they do not meet set standards comes with a cost. Pupils are at risk of becoming disengaged and unhappy at school, and may suffer damage to their self-esteem.

    When students feel their self-esteem is at risk they are more likely to engage in what are known as “defensive strategies” in a bid to protect their self-esteem. For example, students may decrease their effort or procrastinate. This allows them to attribute their potential poor performance to factors such as not trying hard enough, rather than it being a reflection of their own poor ability.

    Often feeling like a failure can lead to learned helplessness. This happens when, following a series of negative results or stressful situations, people can feel that the outcomes of their life are beyond their control and that negative events are unavoidable.

    These perceptions can result in beliefs that there is little point in trying to change the inevitable. It can lead to helpless behaviour and reduced motivation and belief in their own ability.

    A different strategy

    Self-determination theory is a psychological theory that offers a perspective beyond the traditional reward and punishment approach to motivation. It posits that as humans we are naturally keen to learn and grow, but environmental conditions can diminish this innate drive.

    To feel in control of our own actions and therefore motivated to act, we need to feel that we are competent, with opportunities to exercise our capabilities. We need to feel that we have autonomy – that we are responsible for our own behaviour. And we need to have a sense of belonging with others.

    When these three “needs” are satisfied, we are more likely to be highly motivated and to engage in tasks with enthusiasm. However, these needs can be thwarted if we receive high levels of criticism and negative performance feedback, are set work which is too challenging, or face threats and imposed goals.

    When success criteria is too high, students will not feel competent in their ability to achieve these high standards. Working just to avoid punishment means students’ behaviour is being driven by external influences and therefore they will not feel autonomous.

    Furthermore, harsh punishments will reduce students’ sense of belonging within their school environment as they will not feel valued. These punitive behaviours are more likely to result in decreased effort and disengagement.

    While it’s not an easy task for schools and teachers working in a high-stakes, results-based system, there are ways to amend practices to support rather than thwart students’ innate motivation.

    This can include ensuring that work is set at an appropriate level and expectations for success are achievable. Schools can try to foster an environment which promotes respect and care, by acknowledging students’ views and providing them with opportunities to offer their voice and provide feedback.

    In order to support students’ autonomy, where possible, schools could provide them with choice. This could include deciding what topic they want to carry out a project on. Students could choose the format for presenting their homework, such as bullet points or a letter, or handwritten or digital, that allows them to work to their strengths.

    Even providing students with a clear rationale for decisions – such as why a class is focusing on a certain topic – can help to make them feel more involved and engaged.

    By encouraging students to set their own targets which suit personal goals and aspirations for their future, rather than those set by governments and schools, we can help them to redefine their view of success and prioritise their efforts on being the best that they can be. This can help protect their self-esteem and support their motivation towards working towards these goals.

    If schools are able to focus more on the individual needs and goals of their students this could harness their natural motivation to learn and thrive.

    Hannah Wilkinson 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.

    – ref. Child given detention for getting less than 90% on a test – psychology shows there are far better ways to motivate students – https://theconversation.com/child-given-detention-for-getting-less-than-90-on-a-test-psychology-shows-there-are-far-better-ways-to-motivate-students-249804

    MIL OSI – Global Reports –

    February 26, 2025
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