Category: Business

  • MIL-OSI USA: 11.04.2024 Sen. Cruz, Colleagues Send Letter Opposing Palestinian Effort to Suspend Israel from U.N. General Assembly

    US Senate News:

    Source: United States Senator for Texas Ted Cruz

    WASHINGTON, D.C. – U.S. Sen. Ted Cruz (R-Texas), member of the Senate Foreign Relations Committee, sent a letter to U.S. Ambassador to the United Nations (UN) Linda Thomas-Greenfield regarding Palestinian moves to suspend Israel from participation in the UN General Assembly. The letter outlined steps that would be taken in response, including limiting American funding and participation across the UN and comprehensively downgrading the U.S.-Palestinian relationship. 
    In the letter, the senators wrote, “Regarding the U.S.-UN relationship, America’s participation in international organizations is predicated on that participation advancing American national security interests. America’s global security architecture is at the core of those interests and Israel is America’s closest ally in the Middle East, a geopolitically critical region. The effort to diplomatically isolate Israel is aimed at ultimately destroying the Jewish state, which is both obscene and antithetical to American national security interests. If Israel is suspended from the UN General Assembly, we will move to limit American participation and funding across the UN, including UN Programmes, Funds, and Other Entities and Bodies, as well as its Specialized Agencies and Related Organizations, both those in which the PLO participates and generally.
    “Regarding the U.S.-Palestinian relationship, it is grounded in and structured by agreements going back to the Oslo Accords. Those agreements committed the Palestinians not to internationalize their conflict with Israel outside the contours of bilateral negotiations, which the United States has traditionally mediated. The proposal by President Abbas to suspend Israel from the UN General Assembly would straightforwardly violate and fundamentally abrogate those commitments, in turn requiring a comprehensive reevaluation of the U.S.-Palestinian
    relationship. We would pursue such a reevaluation, which will minimally include downgrading cooperation with the PA, ending assistance to the West Bank and Gaza, terminating all Palestinian-related offices across the U.S. government including the Palestinian-facing consulate and the Office of Palestinian Affairs, and broadly curtailing diplomatic, economic, and security engagements between American and Palestinian officials.”
    Sen. Cruz was joined by Sens. Rick Scott (R-Fla.), Dan Sullivan (R-Alaska), Marco Rubio (R-Fla.), John Barrasso (R-Wyo.), Pete Ricketts (R-Neb.), Roger Wicker (R-Miss.), Tim Scott (R-S.C.) Deb Fischer (R-Neb.), Todd Young (R-Ind.), and Tommy Tuberville (R-Ala.) in signing the letter.
    Read the full letter here or below:
    Ambassador Thomas-Greenfield:
    In the coming months, the Palestine Liberation Organization (PLO) will formally move to suspend Israel from full participation in the United Nations (UN) General Assembly, according to statements made by Palestinian Authority (PA) President Mahmoud Abbas at the opening of
    the 79th session of the UN General Assembly in September. We write to describe what the consequences of such an action are likely to be, especially for America’s relationships with the UN and the Palestinians, and to urge you to use all available resources to deter the PLO from
    taking that action.
    Regarding the U.S.-UN relationship, America’s participation in international organizations is predicated on that participation advancing American national security interests. America’s global security architecture is at the core of those interests and Israel is America’s closest ally in the Middle East, a geopolitically critical region. The effort to diplomatically isolate Israel is aimed at ultimately destroying the Jewish state, which is both obscene and antithetical to American national security interests. If Israel is suspended from the UN General Assembly, we will move to limit American participation and funding across the UN, including UN Programmes, Funds, and Other Entities and Bodies, as well as its Specialized Agencies and Related Organizations, both those in which the PLO participates and generally.
    Regarding the U.S.-Palestinian relationship, it is grounded in and structured by agreements going back to the Oslo Accords. Those agreements committed the Palestinians not to internationalize their conflict with Israel outside the contours of bilateral negotiations, which the United States has traditionally mediated. The proposal by President Abbas to suspend Israel from the UN General Assembly would straightforwardly violate and fundamentally abrogate those commitments, in turn requiring a comprehensive reevaluation of the U.S.-Palestinian relationship. We would pursue such a reevaluation, which will minimally include downgrading cooperation with the PA, ending assistance to the West Bank and Gaza, terminating all Palestinian-related offices across the U.S. government including the Palestinian-facing consulate and the Office of Palestinian Affairs, and broadly curtailing diplomatic, economic, and security engagements between American and Palestinian officials.
    Additionally, the PLO and PA are both already subject to American antiterrorism sanctions, though those sanctions are vitiated by licenses and waivers, and are primarily limited to Americans’ ability to assist those groups. Should the PLO move to suspend Israel from the UN General Assembly, we will seek to ensure that those licenses and waivers are ended, and to expand American antiterrorism sanctions to include third parties. More specifically, in 1987 Congress determined “that the PLO and its affiliates are a terrorist organization and a threat to the interests of the United States, its allies, and to international law” (P.L. 100-204, 101 Stat. 1406), and Americans are in general prohibited from conducting transactions on their behalf or issuing diplomatic visas to PLO officials. The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury has determined “pursuant to OFAC’s terrorism sanctions programs, U.S. persons are prohibited from engaging in transactions with the Palestinian Authority unless authorized” as a result of elections held in 2006, in which Hamas was empowered to form the majority party within the Palestinian Legislative Council (PLC) and hold high-level offices within PA. OFAC has issued a series of general licenses authorizing a wide range of such transactions, and special licenses are routinely granted for provisioning visas to PLO officials. Beyond the termination of those licenses, we would seek to impose binding restrictions on the movement of Palestinian officials operating under diplomatic visas related to UN activities, to freeze transactions related to funds controlled by the PA and PLO when they come within U.S. jurisdiction including those related to the Palestine Investment Fund, to designate the PA as a Foreign Terrorist Organization and a Specially Designated Global Terrorist, and to implement and enforce primary and secondary antiterrorism sanctions against individual PLO and PA officials.
    As always, we stand ready to provide you and the Department with any resources you need to advance the national security interests of the United States.
    Sincerely,
    /X/

    MIL OSI USA News

  • MIL-OSI Security: Bellair Man Indicted For Covid Loan Fraud Using Deceased Former Business Partner’s Identity

    Source: United States Department of Justice (National Center for Disaster Fraud)

    Tampa, Florida – United States Attorney Roger B. Handberg announces the return of an indictment charging Stephen L. Gurba (68, Belleair) with wire fraud, making a false statement to a financial institution, and aggravated identity theft. If convicted, Gurba faces a maximum penalty of 20 years in prison on each count of wire fraud (2 counts), 30 years in prison on the false statement count, and a 2-year mandatory term of imprisonment on the aggravated identity theft counts (2 counts). The indictment also notifies Gurba that the United States intends to forfeit approximately $1.2 million, which is alleged to be traceable to proceeds of the offenses.

    According to court documents, between March and June 2020, Gurba submitted false and fraudulent Economic Injury Disaster Loan (EIDL) applications and supporting documentation on behalf of Big Red Express Trucking, LLC and Zenith Express, LLC. To obtain approval and funding for the Big Red and Zenith EIDL loans, Gurba fraudulently assumed the identity of his former business partner who passed away in 2019, listed his former business partner’s name, signature, and other means of identification on the EIDL loan applications certifying under criminal penalty that the applications were true and correct. Gurba also used his deceased business partner’s name and forged his signature on the EIDL loan authorization agreements and loan notes he submitted to the Small Business Administration (SBA). During post-loan related communications with the SBA, Gurba continued to impersonate his deceased business partner. As a result of his fraudulent scheme, Gurba induced the SBA to approve and fund the Big Red and Zenith EIDL loans.

    Additionally, Gurba applied for a Paycheck Protection Program (PPP) loan on behalf a Big Red from an SBA authorized financial institution. Gurba certified and signed under criminal penalty that all the PPP loan proceeds would be spent on payroll, mortgages, rent, or other SBA authorized expenses. In reality, Gurba used the majority of the PPP proceeds to enrich himself, family members, payoff unrelated business debts, and other impermissible expenses. As a result of Gurba’s false statement, the financial institution approved and funded a $955,448.75 PPP loan to Big Red.

    An indictment is merely a formal charge that a defendant has committed one or more violations of federal criminal law, and every defendant is presumed innocent unless, and until, proven guilty.

    This case was investigated by the Federal Housing Finance Agency – Office of Inspector General and the Small Business Association – Office of Inspector General. It is being prosecuted by Special Assistant United States Attorney Chris Poor.

    On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts. For more information on the department’s response to the pandemic, please visit Justice.gov/Coronavirus and Justice.gov/Coronavirus/CombatingFraud.

    Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline via the NCDF Web Complaint Form.

    MIL Security OSI

  • MIL-OSI Security: Turkish National Arrested for Allegedly Conspiring to Violate Venezuela-Related Sanctions

    Source: United States Attorneys General 1

    Taskin Torlak, 37, of Turkey, was arrested in Miami, on Nov. 2 for allegedly conspiring to violate U.S. sanctions as part of a scheme to transport oil from Venezuela for the benefit of Petróleos de Venezuela, S.A. (PdVSA), Venezuela’s state-owned oil and natural gas company.

    “As alleged, the defendant conspired to evade U.S. sanctions imposed on PdVSA, deploying deception to smuggle black-market oil from Venezuela,” said Assistant Attorney General Matthew G. Olsen of the Justice Department’s National Security Division. “The Justice Department will continue to hold accountable those involved in criminal efforts to circumvent sanctions imposed on the Maduro regime.”

    “This defendant allegedly conspired to illegally sell Venezuelan oil, using deceit and trickery to hide the fact that this oil originated from Venezuela,” said U.S. Attorney Matthew Graves for the District of Columbia. “Venezuela’s state-owned oil company, PdVSA, was sanctioned by the U.S. government to prevent the current regime from further depleting the nation’s resources while it unlawfully remains in power.  We remain dedicated to prosecuting violations of these sanctions until the government of Venezuela takes the necessary steps for these sanctions to be lifted.”

    Torlak was arrested as he attempted to depart the United States to return to Turkey. He is charged by complaint with one count of conspiring to violate the International Emergency Economic Powers Act (IEEPA). According to the complaint, Torlak conspired with others to cause U.S. financial institutions to process transactions connected to the transport of Venezuelan oil for the benefit of PdVSA, which the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated as a Specially Designated National (SDN) in January 2019.

    According to the complaint, beginning at least in or around November 2020, Torlak and others devised and implemented a complex scheme to violate and evade U.S. sanctions related to petroleum products from Venezuela and Iran. The scheme included obfuscating the identities of tankers moving the oil by re-naming and re-flagging vessels, covering vessel names with paint or blankets, and turning off the electronics that track vessels’ locations for the safety of ships and their crews. Torlak and his co-conspirators allegedly received tens of millions of dollars from PdVSA in payment for transporting Venezuelan oil, and hid the ultimate beneficiaries of the related transactions from U.S. financial institutions, who then unwittingly processed payments in furtherance of the scheme. The complaint further alleges that Torlak and his co-conspirators explicitly discussed the need to hide their conduct from the U.S. Government and its agencies, including OFAC, as well as commercial maritime entities.

    Homeland Security Investigations Washington D.C. is investigating the case.

    Assistant U.S. Attorney Maeghan Mikorski for the District of Columbia and Trial Attorneys Sean Heiden and Chantelle Dial of the National Security Division’s Counterintelligence and Export Control Section are prosecuting the case. Valuable assistance was provided by the U.S. Attorney’s Office for the Southern District of Florida.

    A complaint is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI

  • MIL-OSI: Media Advisory: Fortinet Returns to World Economic Forum Annual Meeting on Cybersecurity

    Source: GlobeNewswire (MIL-OSI)

    SUNNYVALE, Calif., Nov. 04, 2024 (GLOBE NEWSWIRE) —

    Derek Manky, Chief Security Strategist and VP of Global Threat Intelligence at Fortinet
    “In today’s interconnected world, the fight against cybercrime requires a unified front. Public-private partnerships are vital for sharing threat intelligence, resources, and innovations that collectively help organizations worldwide stay ahead of digital adversaries. The World Economic Forum’s Annual Meeting on Cybersecurity continues to offer a unique opportunity for collaboration where fellow cybersecurity leaders share effective strategies and develop real-world solutions for disrupting cybercrime.”

    News Summary
    Fortinet® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced that the company will return to the World Economic Forum’s Annual Meeting on Cybersecurity in Geneva, Switzerland, from November 11 to 13. Fortinet is a founding member of the Forum’s Centre for Cybersecurity and will again engage in the yearly event, which brings together global cybersecurity leaders from business, government, international organizations, civil society, and academia to foster collaboration and enhance collective cyber resilience.

    Derek Manky, Fortinet Chief Security Strategist and VP of Global Threat Intelligence, will share expertise and insights as the moderator of a panel discussion on November 13 about countering cybercrime through public-private partnerships. In addition to his active role in the Forum and its Centre for Cybersecurity’s Partnership Against Cybercrime and the Cybercrime Atlas initiative, Derek is actively involved with global threat intelligence initiatives, including NATO NICPINTERPOL Expert Working Group, the Cyber Threat Alliance working committee, and FIRST, all in effort to shape the future of actionable threat intelligence and proactive security strategy.

    In the past year, as a leading contributor to the Cybercrime Atlas initiative, Fortinet has collaborated to promote new approaches to accelerate the fight against cybercrime. Significant progress has been made, with the Cybercrime Atlas community vetting more than 10,000 actionable data points, creating seven intelligence packages to support cyber defenders, and supporting two cross-border disruption campaigns through the group’s research and intelligence.

    Session Details

    Title: Better, Faster, Stronger: Accelerating Operational Collaborations to Disrupt Cybercrime
    When: November 13, 2024, 10:30 a.m. CET
    Where: World Economic Forum headquarters, Geneva, Switzerland
    Overview: Operational collaborations to counter cybercrime are leading to arrests and shutdowns of massive criminal networks in 2024. However, we are not yet collaborating at a scale or speed that will change the calculation for criminals. This session will offer insights into how to harness the lessons from successful operational collaborations around the world to systematically disrupt cybercriminals in 2025.
    Speakers:

    • Derek Manky, Chief Security Strategist and VP of Global Threat Intelligence, Fortinet (facilitator)
    • Edvardas Šileris, Head, European Cybercrime Centre (EC3), Europol
    • Brigadier General Oleksandr Potii, Deputy Chairman, State Service of Special Communications and Information Protection of Ukraine
    • Craig Rice, Chief Executive Officer, Cyber Defence Alliance
    • Samantha Kight, Head, Industry Security, Global System for Mobile Communications Association (GSMA)

    More about the World Economic Forum Annual Meeting on Cybersecurity

    In a rapidly evolving cyberspace, where innovation and technology continuously redefine boundaries, systemic inequity is emerging when it comes to the capabilities of
    organizations and countries to safeguard the benefits of technological progress.

    According to the World Economic Forum’s Global Cybersecurity Outlook 2024, the number of organizations maintaining minimum viable cyber resilience has decreased by 30%. This decline has further widened the skills gap in organizational cyber capabilities. The risks associated with this growing technological divide threaten the entire ecosystem and disproportionately impact the already vulnerable.

    Against this backdrop, the Annual Meeting on Cybersecurity 2024 will bring together over 150 of the world’s foremost cybersecurity leaders from business, government, international organizations, civil society, and academia to foster collaboration on making cyberspace safer and more resilient for all.

    Additional Resources

    About Fortinet
    Fortinet (NASDAQ: FTNT) is a driving force in the evolution of cybersecurity and the convergence of networking and security. Our mission is to secure people, devices, and data everywhere, and today we deliver cybersecurity everywhere you need it with the largest integrated portfolio of over 50 enterprise-grade products. Well over half a million customers trust Fortinet’s solutions, which are among the most deployed, most patented, and most validated in the industry. The Fortinet Training Institute, one of the largest and broadest training programs in the industry, is dedicated to making cybersecurity training and new career opportunities available to everyone. Collaboration with esteemed organizations from both the public and private sectors, including CERTs, government entities, and academia, is a fundamental aspect of Fortinet’s commitment to enhance cyber resilience globally. FortiGuard Labs, Fortinet’s elite threat intelligence and research organization, develops and utilizes leading-edge machine learning and AI technologies to provide customers with timely and consistently top-rated protection and actionable threat intelligence. Learn more at https://www.fortinet.com, the Fortinet Blog, and FortiGuard Labs. 

    Copyright © 2024 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and common law trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet’s trademarks include, but are not limited to, the following: Fortinet, the Fortinet logo, FortiGate, FortiOS, FortiGuard, FortiCare, FortiAnalyzer, FortiManager, FortiASIC, FortiClient, FortiCloud, FortiMail, FortiSandbox, FortiADC, FortiAI, FortiAIOps, FortiAntenna, FortiAP, FortiAPCam, FortiAuthenticator, FortiCache, FortiCall, FortiCam, FortiCamera, FortiCarrier, FortiCASB, FortiCentral, FortiConnect, FortiController, FortiConverter, FortiCSPM, FortiCWP, FortDAST, FortiDB, FortiDDoS, FortiDeceptor, FortiDeploy, FortiDevSec, FortiEDR, FortiExplorer, FortiExtender, FortiFirewall, FortiFlex FortiFone, FortiGSLB, FortiGuest, FortiHypervisor, FortiInsight, FortiIsolator, FortiLAN, FortiLink, FortiMonitor, FortiNAC, FortiNDR, FortiPenTest, FortiPhish, FortiPoint, FortiPolicy, FortiPortal, FortiPresence, FortiProxy, FortiRecon, FortiRecorder, FortiSASE, FortiSDNConnector, FortiSEC, FortiSIEM, FortiSMS, FortiSOAR, FortiStack, FortiSwitch, FortiTester, FortiToken, FortiTrust, FortiVoice, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLM and FortiXDR. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, contract, binding specification or other binding commitment by Fortinet or any indication of intent related to a binding commitment, and performance and other specification information herein may be unique to certain environments.

    The MIL Network

  • MIL-OSI: Exterro Expands Leadership Team to Accelerate Growth in the Data Risk Management Market

    Source: GlobeNewswire (MIL-OSI)

    PORTLAND, Ore., Nov. 04, 2024 (GLOBE NEWSWIRE) — Exterro, Inc., the leading provider of data risk management software, today announced it continues to build its world-class executive team with the appointments of Jim Cox as Chief Revenue Officer and John Vincenzo as Chief Marketing Officer. These strategic hires are critical additions to the management team as it focuses on rapidly scaling the company to capitalize on the fast-growing market.

    “I’m incredibly excited to welcome both Jim and John to Exterro as we build an industry-leading go to market team to complement our award-winning product and innovation engine,” said Exterro Founder and CEO Bobby Balachandran. “John and Jim have a history of creating highly efficient and productive teams that exceed expectations. We will continue to invest in a customer-centric approach to both technology and our go to market teams. We’re primed to accelerate our growth and fully leverage our internal and partner resources to ensure we capitalize on the great momentum we’ve built.”

    A successful, dynamic, sales leader, Jim has more than 20 years of experience driving exceptional growth by building sales teams that focus on execution and cultivating outstanding partnerships. During more than a decade in cybersecurity, Jim built a network of CISOs and executive relationships that, while at Proofpoint, helped the organization scale from $100M to $1.4B in just over six years.

    As CRO at Exterro, one key area will be the increased focus and expansion of the company’s partner programs.“The time is now for Exterro to seize this substantial market opportunity,” stated Cox. “We offer the only platform that offers legal teams, cybersecurity professionals, and C-level leaders an integrated solution to e-discovery, digital forensics, cybersecurity compliance, and data privacy, governance, and security challenges. I’m excited about our ability to accelerate growth by expanding platform sales, to not only the market but to the extensive list of customers we have.”

    John Vincenzo has led both public and private technology companies’ marketing teams and helped them take their go-to-market efforts to new heights. He has spent the last 25+ years in technology industries, most recently with cybersecurity companies such as the privately held Nozomi Networks; Silver Peak (acquired by HPE/Aruba Networks) in the software-defined wide area networking (SD-WAN) space; and global networking leader 3Com (acquired by HP). In each instance, he has helped increase overall awareness and drive revenue growth.

    As CMO, Vincenzo will be responsible for increasing the visibility of the company so it matches the success the company is seeing in the market. He will also help accelerate revenue growth by working closely with the Sales teams as well as the Exterro Partner ecosystem.

    “Exterro may be the best kept secret in the industry and we need to change that,” added Vincenzo. “It’s amazing the growth and level of technology innovation the company has already achieved. I’m excited about the opportunity to tell our story to the world and help customers understand the value and return on their investment they can achieve by leveraging the Exterro data risk management platform. No company helps organizations better protect data, minimize risk and ensure safer digital environments than Exterro, and we will make it our mission to put a spotlight on our role in making the world a safer place.”

    Exterro has taken a holistic and integrated approach to data risk since its inception and is the first and only company to use an AI-powered technology platform to assess and mitigate data risks in a comprehensive and integrated manner. The more we learn about data risks–posed by privacy regulations, litigation, data breaches and cybersecurity incidents, data governance and compliance challenges–the more we recognize they cannot be comprehended in isolation. They are interconnected and interdependent, and must be assessed and addressed holistically with a unified data risk management platform.

    About Exterro, Inc.

    Exterro empowers organizations and law enforcement agencies to achieve better legal, regulatory, and investigatory outcomes, while saving money and minimizing the impact of data risk. Its data risk management software is the only comprehensive platform that leverages data discovery, automation, and workflow optimization, and one of the first to utilize responsible AI to give users insight into and control over the complex interconnections of privacy, legal operations, digital investigations, cybersecurity response, compliance, and data governance. Thousands of corporations, law firms, managed services providers, and government and law enforcement agencies trust Exterro to manage their risks and drive successful outcomes at a lower cost. For more information, visit www.exterro.com.

    Press inquiries:

    Hazel Ramirez

    570-975-9261

    hazel@plat4orm.com

    The MIL Network

  • MIL-OSI: CarGurus’ Latest Digital Retail Solution Connects Canadian Dealers with Purchase-Ready Shoppers More Efficiently

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, Nov. 04, 2024 (GLOBE NEWSWIRE) — CarGurus (Nasdaq: CARG), the fastest-growing automotive shopping site in Canada1, today introduced a new digital retail solution that powers more seamless and efficient connections between dealers and purchase-ready shoppers in Canada. CarGurus Digital Deal enables consumers to start their financing application online for eligible new and used vehicles, book an appointment, and start a trade-in before completing the process at the dealership.

    “By allowing car shoppers to handle more steps from the comfort of home, CarGurus Digital Deal helps facilitate a more seamless online to in-store experience that benefits both sides of the transaction,” said Seamus Cassidy, Principal Product Manager with CarGurus. “Dealers can access ready-to-buy shoppers while continuing to work with their preferred technology systems and lending partners. At the same time, consumers can shop with greater confidence by understanding their financing eligibility up front, and save time in the dealership by completing more of the transaction ahead of time.”

    CarGurus’ Digital Deal solution launches in Canada after experiencing strong demand in the U.S., where it is one of the company’s fastest-growing innovations. Active listings are easy to find with badging on CarGurus.ca search results and vehicle detail pages. From eligible vehicle pages, shoppers can complete a simple three-step process to build a personalized vehicle and dealership-specific finance application that is submitted directly to the participating dealership. Shoppers can also schedule an appointment at the dealership and share details about a trade-in. At the dealership, shoppers can then finalize their financing and complete the transaction.

    The solution is built in partnership with dealer finance portal platform CreditApp and can be configured to work with a dealer’s preferred lender networks. As part of the initial rollout, CarGurus Digital Deal is active across over 15,000 vehicle listings, helping participating dealers throughout Canada connect with higher-converting leads for faster, more efficient sales.

    “Digital Deal leads have significantly assisted our sales and finance teams in simplifying the buying process. By having this information upfront, our team can better prepare and creatively engage with our shoppers,” said Casey Pilip, Director of Marketing at Klas Auto Group, a dealer of new and used cars in British Columbia. “Successfully converting additional leads each month at a high closing percentage truly makes a significant impact in today’s market.”

    Dealers can sign up for CarGurus Digital Deal today. Dealerships interested in learning more can either contact their rep, call 1-800-CARGURUS or email camarketing@cargurus.com for more information.

    About CarGurus, Inc.

    CarGurus (Nasdaq: CARG) is a multinational, online automotive platform for buying and selling vehicles that is building upon its industry-leading listings marketplace with digital retail solutions. The CarGurus platform gives consumers the confidence to purchase and/or sell a vehicle either online or in-person, and it gives dealerships the power to accurately price, effectively market, and quickly sell vehicles, all with a nationwide reach. The company uses proprietary technology, search algorithms, and data analytics to bring trust, transparency, and competitive pricing to the automotive shopping experience. CarGurus is the fastest growing automotive shopping site in Canada. 1

    CarGurus operates online marketplaces under the CarGurus brand in the U.K., Canada, and U.S., where it is the most visited automotive shopping site2. The CarGurus network of brands also includes PistonHeads, the largest online motoring community in the U.K.3; Autolist, a U.S.-based online marketplace; and CarOffer, a digital wholesale marketplace serving the U.S.

    To learn more about CarGurus, visit www.cargurus.ca.

    CarGurus® is a registered trademark of CarGurus, Inc., and CarOffer® is a registered trademark of CarOffer, LLC. All other product names, trademarks and registered trademarks are the property of their respective owners.

    1Similarweb: Traffic Insights, Q2 2024, Canada
    2 Similarweb: Traffic Insights (Cars.com, Autotrader.com, TrueCar.com), Q2 2024, U.S.
    3Similarweb: Traffic Insights, Q2 2024, U.K.

    Media Contact:
    Maggie Meluzio
    Director, Public Relations & External Communications
    pr@cargurus.com

    Investor Contact:
    Kirndeep Singh
    Vice President, Investor Relations
    investors@cargurus.com

    The MIL Network

  • MIL-OSI: Pax8 Unveils Pax8 Voyager Alliance: The Partner Marketplace Experience

    Source: GlobeNewswire (MIL-OSI)

    DENVER, Nov. 04, 2024 (GLOBE NEWSWIRE) — Pax8, the leading cloud commerce marketplace, today announced Pax8 Voyager Alliance, its new partner program that provides global partners with a modern approach to achieving success. Fueled by innovation and investment, the program is tailored to meet partners’ specific needs and provides a scalable, strategic growth path. Through elevated enablement, education, and support, Pax8 Voyager Alliance empowers partners to thrive at every stage of their journey.

    “Pax8 Voyager Alliance represents our commitment to putting partners first and recognizing their unique journey to success,” said Craig Donovan, Chief Experience Officer at Pax8. “The intentionally designed program provides our partners with the competitive advantage to accelerate their growth and succeed in the evolving channel. This advancement lays the foundation for an exciting new chapter, and we will introduce a Pax8 Rewards program and additional benefits over the coming months, empowering our partners to scale to new heights.”

    Pax8 Voyager Alliance is built entirely around the partner Marketplace experience and introduces partners to a tiered model. This approach provides differentiated experiences thoughtfully curated to match their unique business needs and size. As partners reach higher levels in the program, they’ll unlock new benefits that elevate their experience and fuel their growth.

    Pax8 will continue to roll out exciting new opportunities for Pax8 partners to take advantage of as they rise through the program tiers to earn new benefits. Some early benefits include curated event experiences and tiered pricing for professional services projects, which will help partners manage costs. Partners can also expect to receive higher levels of technical support as they advance through the program. In addition, Pax8 Voyager Alliance introduces flexible payment options, offering multiple solutions dependent on a partner’s tier to aid in making financial business decisions.

    Future program benefits will include Pax8 Voyager Alliance Rewards. Partners will be able to accrue points that can be used to invest back into their business by applying them to Pax8 services, education and Pax8 Marketplace purchases.

    “Next year, we will introduce enhancements to Voyager Alliance that revolutionize partner rewards in the SMB cloud marketplace,” said Donovan. “We have tremendous loyalty within our partner base, and we’re excited to launch industry-changing rewards that acknowledge their Marketplace investment. Just as enterprise cloud providers have successfully driven growth through consumption-based incentives, we’re bringing that powerful model to the Pax8 Marketplace. By recognizing our partners’ historical and ongoing Marketplace spend, we’re creating a compelling ecosystem that helps MSPs accelerate their cloud journey and maximize their return on investment with Pax8.”

    “Cloud marketplace growth is expected to exceed $45 billion by 2025, driven by various service partners within the channel ecosystem,” said Jay McBain, Chief Analyst at Canalys. “Adopting a tiered model that provides a more curated experience is critical to enabling these varying partners and their goals. With its new program, Pax8 establishes the foundation to effectively support partners at scale and guide them on their path to success.”

    In addition to the Marketplace of the future, Pax8 Voyager Alliance provides access to the following benefits:   

    Pax8 enablement

    • 100+ award-winning Pax8 Academy on-demand courses 
    • Industry-leading partner support
    • Pax8 Academy instructor-led courses 
    • Pax8 Professional Services 
    • Pax8 Academy Peer Groups 
    • Pax8 Academy Business Coaching

    Pax8 events 

    • Learning journeys 
    • Pax8 Launch Briefings 
    • Pax8 Mission Briefings 
    • Pax8 Bootcamps 
    • Pax8 Momentum 
    • Curated event experiences

    “I love Pax8 Voyager Alliance, and it’s a much-needed program,” said Natalia Scheidegger, CEO at 3rdmill, a Sydney, Australia-based MSP. “With the transparency it provides, you can see exactly where you fit, the resources available, and the benefits you’ll unlock at the next tier. We’re excited to strengthen our relationship with Pax8 and continue growing together.”

    To learn more about Pax8 Voyager Alliance, please visit pax8.com.

    About Pax8
    Pax8 is the technology marketplace of the future, linking partners, vendors, and small to midsized businesses (SMBs) through AI-powered insights and comprehensive product support. With a global partner ecosystem of over 38,000 managed service providers, Pax8 empowers SMBs worldwide by providing software and services that unlock their growth potential and enhance their security. Committed to innovating cloud commerce at scale, Pax8 drives customer acquisition and solution consumption across its entire ecosystem.

    Follow Pax8 on BlogFacebookLinkedInX, and YouTube

    Media Contact:
    Kristen Beatty
    Sr. Director of Public Relations
    kbeatty@pax8.com

    The MIL Network

  • MIL-OSI: Altus Group Recognized as Top 10 Data & Analytics Team in 2024 OnCon Icon Awards

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Nov. 04, 2024 (GLOBE NEWSWIRE) — Altus Group Limited (“Altus”) (TSX: AIF), a leading provider of asset and fund intelligence for commercial real estate (“CRE”), is pleased to announce that its technology team has been selected as a Top 10 Data and Analytics Team in the esteemed 2024 OnCon Icon Awards.

    The OnCon Icon Awards program recognizes and celebrates the outstanding achievements of leading organizations and teams worldwide, determined through peer and community voting. Voters select teams that have made a significant impact on their organization or the broader industry, contributed to their professional community through thought leadership, driven innovation, and demonstrated outstanding leadership.

    Altus’ data and analytics solutions are leveraged by many of the world’s leading CRE companies to uncover opportunities, identify risks, understand portfolio impacts, and enhance asset and portfolio performance. With one of the industry’s most comprehensive and unified data platforms, Altus is leveraging its extensive dataset to provide new performance insights to its customers. A recent innovation stemming from this platform is the new ARGUS Intelligence product, which provides performance insights to help transform the way investors model, monitor and manage their assets and portfolios.

    “It’s a tremendous honour for our technology organization to be recognized in the 2024 OnCon Icon Awards,” said David Ross, Chief Technology Officer at Altus. “This achievement is a testament to the hard work and dedication of our exceptional team and their relentless pursuit of innovation and excellence. Together, we’re fulfilling our mission of leading CRE intelligence through innovative advanced analytics capabilities.”

    For more information about the OnCon Icon Awards and to view the full list of winners, please click here.

    About Altus Group

    Altus Group is a leading provider of asset and fund intelligence for commercial real estate. We deliver intelligence as a service to our global client base through a connected platform of industry-leading technology, advanced analytics, and advisory services. Trusted by the largest CRE leaders, our capabilities help commercial real estate investors, developers, proprietors, lenders, and advisors manage risks and improve performance returns throughout the asset and fund lifecycle. Altus Group is a global company headquartered in Toronto with approximately 2,900 employees across North America, EMEA and Asia Pacific. For more information about Altus Group (TSX: AIF) please visit altusgroup.com.

    FOR FURTHER INFORMATION PLEASE CONTACT:

    Elizabeth Lambe
    Director, Global Communications, Altus Group
    (416) 641-9787
    Elizabeth.Lambe@altusgroup.com

    The MIL Network

  • MIL-OSI: Nutanix is Positioned Furthest in Vision Among All Vendors in 2024 Gartner® Magic Quadrant™ for File and Object Storage Platforms

    Source: GlobeNewswire (MIL-OSI)

    SAN JOSE, Calif., Nov. 04, 2024 (GLOBE NEWSWIRE) — Nutanix (NASDAQ: NTNX), a leader in hybrid multicloud computing, today announced it is positioned furthest in vision among all vendors in the 2024 Gartner Magic Quadrant for File and Object Storage Platforms. Nutanix believes this recognition is due to the company’s strong vision for an enterprise storage platform that unifies unstructured data across edge, public and private clouds. This, along with the ability to consolidate files, objects and block storage across virtual machines and containers enables customers to consolidate architectures, simplify operations and reduce cost.

    “Nutanix is widely recognized for block-based hyperconverged infrastructure, so it’s particularly rewarding to see our vision recognized in bringing consistent operational leverage to file and object use cases, which increasingly form the data backbone for modern applications and generative AI” said Lee Caswell, SVP, Product and Solutions Marketing at Nutanix.

    Nutanix believes the company was positioned furthest in vision for five key reasons:

    • Modern scale-out architecture: Nutanix Unified Storage (NUS) offers a modern scale-out architecture that enables organizations to start small and efficiently scale out to very large volumes of multi-Petabyte data while also scaling performance;
    • Software-defined storage: NUS provides a software-defined solution that can be deployed across any server platform as well as any location – at the edge, in data centers or in public clouds;
    • Cloud operating model: Nutanix delivers a cloud operating model that extends the Nutanix hallmark of management simplicity to storage and data;
    • Integrated cyber resilience: NUS offers integrated cyber resilience and data security capabilities aligned to the National Institute of Standards and Technology (NIST) cybersecurity framework;
    • Unified platform and licensing: NUS delivers a unified storage platform for NFS, SMB, S3, and iSCSI with a single license meter for any data access type.

    NUS is a software-defined data platform that uniquely consolidates access and management of siloed file, object, and block storage into a single platform. Powered by rich data services such as analytics, ransomware protection, lifecycle management, and data protection, NUS enables organizations to adapt to fast-changing applications’ needs and shift their focus from data storage to more strategic data management. Additionally, in the past year, Nutanix showed significant advancements in high performance for AI workloads with top placement in MLPerf Storage benchmark for training, data protection with zero RPO/RTO metro sync, enhanced cyber resilience through Nutanix Data Lens with an innovative threat containment window followed by automated recovery, and expanded hybrid cloud integration with AWS.

    NUS is designed to power AI and modern cloud-native workloads by offering data locality, exceptional performance, linear scalability, and uncompromising security, supporting both training and inferencing use cases across industries. It also supports hybrid cloud use cases such as disaster recovery, cloud bursting, analytics, and cloud-based data replication and tiering. For video surveillance, NUS delivers high throughput and fault-tolerant storage, ensuring a high ROI for archival, retrieval, and analytics of video data. And finally, it enables workload consolidation by allowing all unstructured data workloads to run on a single platform, supporting both file and object services with multi-protocol capabilities based on application needs.

    “Our video surveillance system is important to physical security on campus, and we often need to add capacity and bandwidth,” said Jeff Blomendahl, IT Manager, University of Kansas Medical Center. “Nutanix makes it easy to grow the system and provide more resources as they are needed.”

    More information on Nutanix and a complimentary copy of the report are available here.

    Source:
    Source: Gartner, Magic Quadrant for File and Object Storage Platforms, Chandra Mukhyala, Julia Palmer, Chandra Mukhyala, Jeff Vogel, 8 October 2024
    GARTNER is a registered trademark and service mark, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

    About Nutanix
    Nutanix is a global leader in cloud software, offering organizations a single platform for running applications and managing data, anywhere. With Nutanix, companies can reduce complexity and simplify operations, freeing them to focus on their business outcomes. Building on its legacy as the pioneer of hyperconverged infrastructure, Nutanix is trusted by companies worldwide to power hybrid multicloud environments consistently, simply, and cost-effectively. Learn more at www.nutanix.com or follow us on social media @nutanix.

    © 2024 Nutanix, Inc. All rights reserved. Nutanix, the Nutanix logo, and all Nutanix product and service names mentioned herein are registered trademarks or unregistered trademarks of Nutanix, Inc. (“Nutanix”) in the United States and other countries. Other brand names or marks mentioned herein are for identification purposes only and may be the trademarks of their respective holder(s). This press release is for informational purposes only and nothing herein constitutes a warranty or other binding commitment by Nutanix. This release may contain express and implied forward-looking statements, which are not historical facts and are instead based on Nutanix’s current expectations, estimates and beliefs. The accuracy of such statements involves risks and uncertainties and depends upon future events, including those that may be beyond Nutanix’s control, and actual results may differ materially and adversely from those anticipated or implied by such statements. Any forward-looking statements included herein speak only as of the date hereof and, except as required by law, Nutanix assumes no obligation to update or otherwise revise any of such forward-looking statements to reflect subsequent events or circumstances.

    The MIL Network

  • MIL-OSI: EzFill Fueling up to Expand Nationally Enters into LOI for the Acquisition of Yoshi Mobility’s Fuel Division

    Source: GlobeNewswire (MIL-OSI)

    Plans to Begin Operations in Four New States, Expanding Reach Across the U.S.

    Miami, FL, Nov. 04, 2024 (GLOBE NEWSWIRE) — EzFill Holdings Inc. (NASDAQ: EZFL), a leading mobile fueling company, is proud to announce the signing of a non-binding Letter of Intent (“LOI”) to acquire the fueling division of Yoshi, Inc. We believe that this acquisition will mark a significant milestone in EzFill’s strategy to expand its operations and presence across the United States.

    Under the terms of the LOI, EzFill plans to acquire Yoshi Mobility’s existing mobile fuel service operations in four key states, including California, Tennessee, Texas, and Michigan, and integrate Yoshi’s assets and customers into its growing infrastructure. With this acquisition, EzFill is expected to not only strengthen its footprint in the existing markets but also initiate an aggressive national expansion plan, positioning itself as a leading player in the on-demand fueling sector. Terms of the transaction were not disclosed.

    Based in Nashville, Tennessee, Yoshi Mobility is a major mobility services provider backed by General Motors Ventures, ExxonMobil, and Bridgestone Americas. These strategic investors have been pivotal in establishing Yoshi Mobility as a pioneer and leader in the mobile fueling industry.

    CEO of EzFill, Yehuda Levy said, “This acquisition is a strategic step for EzFill as we continue to lead the way in revolutionizing mobile fueling services across the U.S. With Yoshi, we gain access to new markets, fantastic field technicians and a loyal customer base, allowing us to scale our operations and provide exceptional fueling services nationwide.”

    Avi Vaknin, Chief Technology Officer of EzFill, added, “With our technology platform, we expect to be able to seamlessly expand into other states using Yoshi’s existing fleet of trucks. We believe this integration will allow us to quickly scale our operations while maintaining the high level of service and efficiency that EzFill is known for. We are excited about the potential to grow and deliver more fuel solutions to consumers across the country.”

    The acquisition reflects EzFill’s ongoing commitment to providing convenient, cost-effective, and environmentally friendly mobile fueling solutions for consumers and businesses.

    CEO and Co-Founder of Yoshi Mobility, Bryan Frist said, “Having built our fueling division from the ground up over the past several years, we are delighted to transition this business to a terrific partner and leader in the industry. This milestone will enable our team at Yoshi Mobility to redirect our energy toward developing cutting-edge mobility solutions that address the current and future needs of our fleet customers, including EV charging and virtual vehicle inspections. It’s a true win-win for both companies and most importantly, for our customers.”

    The potential transaction is subject to entering into definitive agreements which will contain customary closing conditions and is expected to close before the year end.

    About EzFill

    EzFill is a Miami-based on-demand mobile fueling service that provides fuel delivery directly to consumers and businesses, eliminating the need for traditional gas stations. As one of the largest mobile fuel delivery platforms in the United States, EzFill focuses on convenience, safety, and efficiency for its users.

    About Yoshi Mobility

    Yoshi Mobility is a tech-enabled mobility services provider. The company has completed millions of vehicle services through its network of certified mobile technicians who provide both on-site and virtual services including EV charging, virtual inspections, and preventative maintenance. To date, Yoshi Mobility has raised more than $60 million with investments from General Motors Ventures, Bridgestone, and ExxonMobil. Other investors include NBA All-Star Kevin Durant, NFL legend Joe Montana, and Y-Combinator in Silicon Valley.

    Forward Looking Statements

    This press release contains “forward-looking statements” Forward-looking statements reflect our current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements, include, but are not limited to, statements contained in this press release relating to our business strategy, our future operating results and liquidity and capital resources outlook. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward–looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, our ability to raise capital to fund continuing operations; our ability to protect our intellectual property rights; the impact of any infringement actions or other litigation brought against us; competition from other providers and products; our ability to develop and commercialize products and services; changes in government regulation; our ability to complete capital raising transactions; and other factors relating to our industry, our operations and results of operations. Actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We cannot guarantee future results, levels of activity, performance or achievements. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release except as may be required under applicable securities law.

    Investor Contact
    TraDigital IR
    John McNamara
    john@tradigitalir.com

    The MIL Network

  • MIL-OSI: Volta Finance Limited – Director/PDMR Shareholding

    Source: GlobeNewswire (MIL-OSI)

    Volta Finance Limited (VTA/VTAS)

    Notification of transactions by directors, persons discharging managerial
    responsibilities and persons closely associated with them

    NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

    *****
    Guernsey, 4 November 2024

    Pursuant to the announcements made on 5 April 2019 and 26 June 2020 relating to changes to the payment of directors fees, Volta Finance Limited (the “Company” or “Volta”) has purchased 3,403 ordinary shares of no par value in the Company (“Ordinary Shares”) at an average price of €5.5 per share.

    Each director receives 30% of their Director’s fees for any year in the form of shares, which they are required to retain for a period of no less than one year from their respective date of issue.

    The shares will be issued to the Directors, who for the purposes of Regulation (EU) No 596/2014 on Market Abuse (“MAR“) are “persons discharging managerial responsibilities” (a “PDMR“).

    • Dagmar Kershaw, Chairman and a PDMR for the purposes of MAR, acquired 1,047 additional Ordinary Shares in the Company. Following the settlement of this transaction, Ms Kershaw will have an interest in 13,885 Ordinary Shares, representing 0.04% of the issued shares of the Company;
    • Stephen Le Page, Director and a PDMR for the purposes of MAR, acquired 733 additional Ordinary Shares in the Company. Following the settlement of this transaction, Mr Le Page will have an interest in 51,295 Ordinary Shares, representing 0.14% of the issued shares of the Company;
    • Yedau Ogoundele, Director and a PDMR for the purposes of MAR acquired 733 additional Ordinary Shares in the Company. Following the settlement of this transaction, Mrs Ogoundele will have an interest in 7,595 Ordinary Shares, representing 0.02% of the issued shares of the Company; and
    • Joanne Peacegood, Director and a PDMR for the purposes of MAR acquired 890 additional Ordinary Shares in the Company. Following the settlement of this transaction, Mrs Peacegood will have an interest in 4,395 Ordinary Shares, representing 0.01% of the issued shares of the Company;

    The notifications below, made in accordance with the requirements of MAR, provide further detail in relation to the above transactions:

    1. Details of the person discharging managerial responsibilities / person closely associated
    a)   Dagmar Kershaw
    CHAIRMAN & DIRECTOR  
    b) Stephen Le Page
    DIRECTOR
      c) Yedau Ogoundele
    DIRECTOR
    d) Joanne Peacegood
    DIRECTOR
    1. Reason for the notification
    a. Position/status Director
    b. Initial notification/Amendment Initial notification
    1. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
    a. Name Volta Finance Limited
    b. LEI 2138004N6QDNAZ2V3W80
    1. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
    a. Description of financial instrument, type of instrument Ordinary Shares
    b. Identification code GG00B1GHHH78
    c. Nature of the transaction Purchase and allocation of Ordinary Shares relation to the part-payment of Directors’ fees for the quarter ended 31 October 2024
    d. Price(s) €5.5 per share
    e. Volume(s) Total: 3,403
    f. Date of transaction 1 November 2024
    g. Place of transaction On-market – London
    1. Aggregate Purchase Information
    a)
    Dagmar Kershaw
    Chairman and Director
    b)
    Stephen Le Page
    Director
      c)
    Yedau Ogoundele
    Director
    d)
    Joanne Peacegood
    Director
    Aggr. Volume:
    1,047

    Price:
    €5.5per share

    Aggr. Volume:
    733

    Price:
    €5.5 per share

      Aggr. Volume:
    733

    Price:
    €5.5 per share

    Aggr. Volume:
    890

    Price:
    €5.5 per share

    CONTACTS

    For the Investment Manager
    AXA Investment Managers Paris
    François Touati
    francois.touati@axa-im.com
    +33 (0) 1 44 45 80 22

    Olivier Pons
    Olivier.pons@axa-im.com
    +33 (0) 1 44 45 87 30

    Company Secretary and Administrator
    BNP Paribas S.A, Guernsey Branch
    guernsey.bp2s.volta.cosec@bnpparibas.com 
    +44 (0) 1481 750 853

    Corporate Broker
    Cavendish Securities plc
    Andrew Worne
    Daniel Balabanoff
    +44 (0) 20 7397 8900

    *****
    ABOUT VOLTA FINANCE LIMITED

    Volta Finance Limited is incorporated in Guernsey under the Companies (Guernsey) Law, 2008 (as amended) and listed on Euronext Amsterdam and the London Stock Exchange’s Main Market for listed securities. Volta’s home member state for the purposes of the EU Transparency Directive is the Netherlands. As such, Volta is subject to regulation and supervision by the AFM, being the regulator for financial markets in the Netherlands.

    Volta’s Investment objectives are to preserve its capital across the credit cycle and to provide a stable stream of income to its Shareholders through dividends that it expects to distribute on a quarterly basis. The Company currently seeks to achieve its investment objectives by pursuing exposure predominantly to CLO’s and similar asset classes. A more diversified investment strategy across structured finance assets may be pursued opportunistically. The Company has appointed AXA Investment Managers Paris an investment management company with a division specialised in structured credit, for the investment management of all its assets.

    *****

    ABOUT AXA INVESTMENT MANAGERS
    AXA Investment Managers (AXA IM) is a multi-expert asset management company within the AXA Group, a global leader in financial protection and wealth management. AXA IM is one of the largest European-based asset managers with 2,700 professionals and €844 billion in assets under management as of the end of December 2023.  

    *****

    This press release is published by AXA Investment Managers Paris (“AXA IM”), in its capacity as alternative investment fund manager (within the meaning of Directive 2011/61/EU, the “AIFM Directive”) of Volta Finance Limited (the “Volta Finance”) whose portfolio is managed by AXA IM.

    This press release is for information only and does not constitute an invitation or inducement to acquire shares in Volta Finance. Its circulation may be prohibited in certain jurisdictions and no recipient may circulate copies of this document in breach of such limitations or restrictions. This document is not an offer for sale of the securities referred to herein in the United States or to persons who are “U.S. persons” for purposes of Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or otherwise in circumstances where such offer would be restricted by applicable law. Such securities may not be sold in the United States absent registration or an exemption from registration from the Securities Act. Volta Finance does not intend to register any portion of the offer of such securities in the United States or to conduct a public offering of such securities in the United States.

    *****

    This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). The securities referred to herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Past performance cannot be relied on as a guide to future performance.

    *****
    This press release contains statements that are, or may deemed to be, “forward-looking statements”. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes”, “anticipated”, “expects”, “intends”, “is/are expected”, “may”, “will” or “should”. They include the statements regarding the level of the dividend, the current market context and its impact on the long-term return of Volta Finance’s investments. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. Volta Finance’s actual results, portfolio composition and performance may differ materially from the impression created by the forward-looking statements. AXA IM does not undertake any obligation to publicly update or revise forward-looking statements.

    Any target information is based on certain assumptions as to future events which may not prove to be realised. Due to the uncertainty surrounding these future events, the targets are not intended to be and should not be regarded as profits or earnings or any other type of forecasts. There can be no assurance that any of these targets will be achieved. In addition, no assurance can be given that the investment objective will be achieved.

    The figures provided that relate to past months or years and past performance cannot be relied on as a guide to future performance or construed as a reliable indicator as to future performance. Throughout this review, the citation of specific trades or strategies is intended to illustrate some of the investment methodologies and philosophies of Volta Finance, as implemented by AXA IM. The historical success or AXA IM’s belief in the future success, of any of these trades or strategies is not indicative of, and has no bearing on, future results.

    The valuation of financial assets can vary significantly from the prices that the AXA IM could obtain if it sought to liquidate the positions on behalf of the Volta Finance due to market conditions and general economic environment. Such valuations do not constitute a fairness or similar opinion and should not be regarded as such.

    Editor: AXA INVESTMENT MANAGERS PARIS, a company incorporated under the laws of France, having its registered office located at Tour Majunga, 6, Place de la Pyramide – 92800 Puteaux. AXA IMP is authorized by the Autorité des Marchés Financiers under registration number GP92008 as an alternative investment fund manager within the meaning of the AIFM Directive.

    *****

    The MIL Network

  • MIL-OSI: Grayscale® Digital Large Cap Fund (Ticker: GDLC) Application to Uplist as Exchange-Traded Product Now Published in Federal Register

    Source: GlobeNewswire (MIL-OSI)

    STAMFORD, Conn., Nov. 04, 2024 (GLOBE NEWSWIRE) — Grayscale Investments®, an asset management firm with expertise in crypto investing offering more than 25 crypto investment products, today announced that NYSE Arca, Inc.’s (“NYSE Arca”) Form 19b-4 proposing to list and trade shares of Grayscale Digital Large Cap Fund (OTCQX: GDLC) as an Exchange-Traded Product (ETP) has been published in the Federal Register (link), formally initiating the review process which can take up to 240 days. The proposed rule change, if adopted, would represent the first national securities exchange ruleset permitting the listing and trading of shares of multi-crypto asset ETPs: NYSE Arca Rule 8.800-E (Commodity- and/or Digital Asset-Based Investment Interests).

    As part of the Form 19b-4 filing, NYSE Arca’s proposed rule change aims to revise how the exchange defines ETPs that hold commodities and digital assets beyond Bitcoin and Ether.

    “Grayscale is committed to pioneering the next generation of digital asset investing, and client focus is foundational to our firm’s evolution,” said Peter Mintzberg, Grayscale’s CEO. “As investors seek to maximize risk-adjusted returns and build financial portfolios that can adapt to market shifts, they are increasingly allocating to digital assets. At Grayscale, we aspire to proactively meet our clients’ needs and be the go-to crypto investing partner for decades to come.”

    As of November 1, 2024, GDLC currently holds assets under management of more than $530M, and includes the following large-cap digital assets from the CoinDesk Large Cap Select Index (DLCS) that are rebalanced quarterly*:

    • Bitcoin, 76.53%
    • Ether, 16.92%
    • Solana, 4.36%
    • XRP, 1.63%
    • Avalanche, 0.56%

    “Grayscale Digital Large Cap Fund is currently trading on OTC Markets under ticker: GDLC, and continues to meet growing investor demand by providing diversified exposure to crypto through a portfolio of market-leading digital assets,” said David LaValle, Grayscale’s Global Head of ETFs. “Grayscale and NYSE Arca have taken a thoughtful approach toward developing a proposed ruleset to permit the listing and trading of shares of multi-crypto asset ETPs within the SEC’s existing standard, and we look forward to engaging constructively with regulators, as we seek to bring digital assets further into the U.S. regulatory perimeter and deliver for our clients.”

    Under the proposal, funds invested in a diversified basket index must invest at least 90% in commodities with an established surveillance or futures market, like Bitcoin and Ether, while up to 10% could be allocated elsewhere. If approved, this rule would directly benefit GDLC, which tracks the CoinDesk Large Cap Select Index (DLCS) and invests in a diversified basket of large-cap digital assets that is rebalanced quarterly.

    Grayscale is firmly committed to building future-forward regulated investment vehicles that are designed to help investors build stronger diversified portfolios. GDLC first launched as a private placement in February 2018, began publicly trading on OTC Markets under ticker: GDLC in November 2019, and became an SEC reporting entity in July 2022.

    Grayscale has several private placement products currently open for investment by eligible accredited investors, including diversified funds that track thematic indices and are rebalanced quarterly, such as Grayscale Decentralized AI Fund, as well as single-asset trusts that provide clients with exposure to a singular digital asset, including Grayscale Avalanche Trust, Grayscale Aave Trust, Grayscale Bittensor Trust, Grayscale MakerDAO Trust, Grayscale NEAR Trust, Grayscale Stacks Trust, Grayscale Sui Trust and Grayscale XRP Trust.

    For updates and more information about Grayscale’s products, please visit https://www.grayscale.com/

    *Holdings as of 11/1/2024 and are subject to change

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

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

    Private placement securities are speculative, illiquid, and entail a high level of risk, including the risk that an investor could lose their entire investment.

    Smart contracts are a new technology and ongoing development may magnify initial problems, cause volatility on the networks that use smart contracts and reduce interest in them, which could have an adverse impact on the value of MKR.

    The Artificial Intelligence protocols underlying the Grayscale Decentralized AI Fund components were only recently conceived and the technologies underlying the protocols may not function as intended, which could have an adverse impact on the value of the Fund Components and an investment in the shares.

    The Avalanche protocol was only conceived in 2018 and the Avalanche protocol or its subnet mechanisms may not function as intended, which could have an adverse impact on the value of AVAX and an investment in the shares.

    The Bittensor protocol was only conceived in 2017 and its Yuma Consensus and Proof-of-Authority consensus mechanisms may not function as intended, which could have an adverse impact on the value of TAO and an investment in the shares.

    The MakerDao protocol was only conceived in 2015 and the MakerDao protocol, Dai, or CDPs may not function as intended, which could have an adverse impact on the value of MKR and an investment in the shares.

    The Stacks protocol was only conceived in 2017 and its “proof-of transfer” consensus mechanisms may not function as intended, which could have an adverse impact on the value of STX and an investment in the Shares. The Stacks Network only launched in 2021 and cross-blockchain scaling solutions are a new technology that could fail to attract users, which could have an adverse impact on the value of STX and an investment in the shares.

    The Sui protocol and Near protocol were only conceived in 2017 and such protocols or their Nightshade and Doomslug consensus mechanisms, respectively, may not function as intended, which could have an adverse impact on the value of SUI and NEAR and an investment in the shares.

    The Ripple protocol was only launched in 2012 and the Ripple Network, the Ripple Ledger, or the Trusted Nodes Lists may not function as intended, which could have an adverse impact on the value of XRP and an investment in the shares.

    About Grayscale Investments®
    Grayscale enables investors to access the digital economy through a family of future-forward investment products. Founded in 2013, Grayscale has a decade-long track record and deep expertise as an asset management firm focused on crypto investing. Investors, advisors, and allocators turn to Grayscale for single asset, diversified, and thematic exposure. Grayscale products are distributed by Grayscale Securities, LLC (Member FINRA/SIPC).

    Media Contact
    Jennifer Rosenthal
    press@grayscale.com

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

    The MIL Network

  • MIL-OSI: EveLab Insight Unveils Advanced Neck Analysis with Revolutionary Panoramic AI Skin Analysis System

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Nov. 04, 2024 (GLOBE NEWSWIRE) — A revolutionary player in the beauty tech space, EveLab Insight’s Eve V Panoramic AI Skin Analysis System uncovers the ground truth of skin by capturing high quality 3D face contour and high resolution skin photographs in 25 seconds, accurately assessing skin concerns such as aging, redness, acne, skin tone, pigmentary spots and more. The Eve V system precisely analyzes the skin and provides customized skincare routines that allow individuals to discover the full potential of healthy skin. 

    Previously focused solely on facial analysis, EveLab Insight’s cutting-edge skin analysis system now makes a groundbreaking leap to the neck area. This innovative feature comprehensively evaluates neck wrinkles and fine lines, setting a new standard for neck scans in the market. With a sophisticated four-degree system and nine distinct grades to assess the severity of neck wrinkles, EveLab Insight can now provide precise scoring that highlights the condition of your skin. Levels include:

    None: No wrinkles are present, and the skin appears smooth.
    Mild: Presence of shallow wrinkles, either 1-2 or 3 or more.
    Moderate: Medium-depth wrinkles ranging from 1-2 or 3 or more.
    Severe: Deep wrinkles, with possible accompanying loose soft tissue in the neck area. The severity ranges from a few deep wrinkles to very noticeable loose tissue.

    The addition of neck analysis to the EveV Panoramic AI Skin Analysis System is a powerful tool that can be used by brands, spas, clinicians and more for a plethora of reasons:

    Personalized Product Recommendations:
    The neck wrinkles analysis feature allows beauty brands to offer highly personalized skincare product recommendations. By analyzing the severity and specific characteristics of neck wrinkles, brands can suggest tailored products such as targeted neck creams, serums, and masks. If a client’s analysis indicates moderate to severe neck wrinkles, the brand can recommend their specialized neck cream designed to address these specific concerns. This enhances the customer experience, increases sales of specialized products, and builds stronger customer loyalty.

    Promoting Existing Neck Creams:
    Beauty brands with existing neck creams can leverage the neck wrinkles analysis to effectively promote these products. By demonstrating the efficacy of their neck creams through before-and-after skin analysis reports, brands can build trust and convince clients of the product’s benefits. This targeted approach not only boosts sales but also positions the brand as a leader in anti-aging solutions.

    Data-Driven Product Development:
    Beauty brands can use the detailed data from the neck wrinkles analysis report to drive research and development. Understanding common aging patterns and the effectiveness of existing products help in creating new, more effective formulations. This ensures that the products address the most prevalent issues, enhancing their market competitiveness and effectiveness.

    Customized Treatment Plans:
    Aesthetic clinics can use the neck wrinkles analysis to create highly customized treatment plans. By providing accurate and detailed information on wrinkle severity and characteristics, clinicians can design targeted treatments such as laser therapy, radiofrequency treatments, or injectable fillers. This precision leads to better treatment outcomes and higher client satisfaction.

    The launch of EveLab Insight’s advanced neck analysis marks a significant step in addressing the unique skincare needs of the neck area. By providing precise assessments of neck wrinkles and fine lines, we empower brands and clinics to offer targeted solutions, enhancing personalized care for this often-overlooked region and transforming how we approach neck skincare.

    Media contact:
    Daisy Zhang
    daisy.zhang@evelabinsight.com

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/b6e0c379-e053-4521-bb58-b3859aab8be8

    https://www.globenewswire.com/NewsRoom/AttachmentNg/c06855a5-dc85-4500-a9ea-0fe513885ba3

    The MIL Network

  • MIL-OSI: Kvika banki hf.: Publication of Q3 Financial Results on Wednesday 6 November

    Source: GlobeNewswire (MIL-OSI)

    The Board of Directors of Kvika banki hf. is set to approve the financial statements of the Group for the third quarter and the first nine months of 2024 at a board meeting on Wednesday 6 November. The financial statements will subsequently be published after domestic markets have closed.

    A meeting to present the results to shareholders and market participants will be combined with Kvika’s Capital Markets Day which will be held the next day, at 12:00 on Thursday 6 November in Harpa’s Northern Lights Hall and through a live webcast.  

    The presentation will be conducted in Icelandic and a recording of the meeting with English subtitles will later be made available on Kvika’s website.

    For further information please contact Kvika’s investor relations at ir@kvika.is

    The MIL Network

  • MIL-OSI: SWGT Launches deWork: The World’s First Zero-Commission, Gamified Work Marketplace

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Nov. 04, 2024 (GLOBE NEWSWIRE) — SWG Global Ltd. has officially launched the MVP of deWork, a groundbreaking zero-commission decentralized work marketplace powered by the SWGT token, listed on multiple exchanges (MEXC, Gate, Bitget, Bitmart, Lbank) June 2024. The team has been working on a much anticipated product launch for over a year, and now they are delivering on their promises.

    In line with the commitment to advancing a fair and accessible digital economy, deWork redefines freelance work through blockchain innovation, offering a platform where freelancers retain full control of their earnings, pay no commissions, and experience work as a gamified, rewarding journey.

    Unlike traditional freelance platforms that impose up to 20% in commissions, deWork’s decentralized model ensures that workers keep 100% of their earnings, addressing a critical need for fair compensation in the global gig economy. Through the use of blockchain technology, deWork eliminates intermediaries, streamlines payments, and delivers a transparent, secure environment for professionals to connect directly with clients. Smart contracts drive the system, enabling instant, frictionless transactions and building trust through an immutable, decentralized ledger.

    An Equitable Solution for Freelancers and Clients

    In addition to fair pay and transparency, deWork leverages blockchain to bring a new level of equality to the freelancer-client relationship. Powered by smart contracts, deWork’s decentralized reputation system ensures that ratings are trustworthy and uninfluenced by third parties, allowing freelancers to maintain a transparent, verifiable work history. With an accessible, token-based platform that encourages professional growth, deWork empowers freelancers to achieve their goals without the limitations and challenges imposed by centralized work platforms.

    The Vision of SWG Global Ltd.

    SWG Global envisions a future where blockchain-enabled solutions foster a more inclusive economy. With deWork, SWG Global is driving the change towards a fair, decentralized gig economy—one that puts people first, eliminates unnecessary costs, and supports an empowered, secure, and enjoyable work experience.

    Expanding the deWork Experience

    Beyond its zero-commission framework, deWork plans introduce a unique GameFi experience, allowing freelancers to engage in play-to-earn games, transforming downtime into a rewarding opportunity. The gamified environment offers challenges, tasks, and quests where freelancers can earn SWGT tokens, providing an engaging experience that elevates the way freelancers interact with the platform. This new dimension merges productivity and play, allowing freelancers of all skill levels to actively earn, build reputation, and enjoy a fulfilling journey on the platform.

    Join the Future of Work with deWork

    Freelancers, clients, and digital enthusiasts are invited to join deWork at https://jobs.swg.io/ and experience a next-generation work marketplace where zero commissions, transparent payments, and gamification redefine freelancing for the digital age.

    Contact person: Anna Kline
    Email: anna@swg.io

    Disclaimer: This content is provided by SWGT. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/71366747-f16b-4cd8-b77e-36b16ed136c0

    The MIL Network

  • MIL-OSI Canada: MP Chahal announces federal investments to grow Alberta’s aerospace and aviation industry

    Source: Government of Canada News (2)

    News release

    Over $4.3 million through PrairiesCan to manufacture and commercialize new technologies, connect small- and medium-sized firms with procurement opportunities, and create new career paths for underrepresented groups

    November 4, 2024 – Edmonton, Alberta – PrairiesCan

    With more than 500 small- and medium-sized businesses that employ thousands of workers, Alberta’s aerospace and aviation industry is playing a key role in diversifying local economies and creating good-paying jobs in communities across the province. The Government of Canada is collaborating with partners like post-secondary institutions, industry associations, municipalities and businesses to strengthen this important industry’s competitiveness.

    Today, George Chahal, Member of Parliament for Calgary Skyview, on behalf of the Honourable Dan Vandal, Minister for PrairiesCan, highlighted five projects receiving more than $4.3 million in PrairiesCan funding that are contributing to Alberta’s leadership in aerospace and aviation innovation. The projects include:

    • Over $186,000 for the Alberta Aviation & Aerospace Council to develop and deliver the Alberta Aerospace and Defence Conference in 2025 in Calgary and 2026 in Edmonton. This newly established in-person event will help connect Alberta’s small- and medium-sized firms with procurement and investment opportunities with global defence contractors.
    • Over $100,000 for Elevate Aviation to develop and launch a mentorship initiative that provides access to personalized mentorship connections, networking opportunities and professional development courses—ultimately leading to job placement opportunities for underrepresented groups while addressing the demand for skilled workers in in the aerospace and aviation industry.
    • Over $1.4 million for the Southern Alberta Institute of Technology (SAIT) to create an aerospace composite materials laboratory. Innovations that use advanced composite materials have the potential to enhance aircraft performance while reducing the environmental impact of the aviation sector. This new lab includes leading-edge manufacturing and testing equipment, as well as a team of expert researchers and engineers to support cutting-edge research in the aerospace manufacturing sector.
    • Over $50,000 for Sturgeon County to develop a report and ecosystem map on the Alberta’s aerospace and defence sector value chain. This project is better enabling the County and sector partners to identify and connect local small business suppliers to larger companies.
    • $2.6 million for UVAD Technologies Inc. for developing, demonstrating and commercializing an electric fixed-wing uncrewed aerial vehicle.  

    In total, today’s investments are expected to benefit over 330 small- and medium sized businesses and support more than 360 jobs.

    In line with the principles of the Government of Canada’s Framework to Build a Green Prairie Economy, these investments are about collaborating on local priorities and building on local strengths to seize opportunities for prosperity in a sustainable net-zero Prairie economy.

    Quotes

    “Municipalities, the private sector and post-secondary institutions are all part of the vital ecosystem for Alberta’s growing aerospace and aviation sector. Our government’s investments in these projects are helping empower cutting-edge research and commercialization, connecting local businesses to new markets, and breaking down barriers for underrepresented people seeking careers in this growing sector.”
    –The Honourable Dan Vandal, Minister for PrairiesCan

    “Alberta has a global reputation for excellence in aerospace and aviation thanks to the ingenuity, innovation and hard work of our small- and medium-sized businesses, innovators and talented workforce. Calgary Skyview is home to some of the best aerospace and aviation companies in Canada and are benefiting greatly from our government’s investments in the growing sector.”
    –George Chahal, Member of Parliament for Calgary Skyview

    “Alberta’s aviation and aerospace industries have incredible potential, and the addition of defence to our conference will create critical connections and opportunities for businesses to grow within the global aerospace and defence market. Bringing industry stakeholders together under one roof will accelerate Alberta’s role in these sectors, driving innovation and investment in our province.”
    –Kendra Kincade, Chair, Alberta Aviation & Aerospace Council

    “This investment enables us to expand our mentorship initiatives, opening doors for individuals who bring diverse perspectives, drive innovation, and strengthen the industry. By connecting participants with mentorship, networking, and professional development, we are setting the stage for a stronger, more inclusive future for aviation.”
    –Laura Sinclair, Chief Operating Officer / Chief Financial Officer, Elevate Aviation 

    “This significant investment in SAIT’s aerospace composite materials laboratory within our Applied Research and Innovation Services (ARIS) area positions Alberta at the forefront of sustainable aerospace innovation. Equipped with advanced technology and a skilled research team, this lab will drive new levels of performance and environmental responsibility across the aerospace sector. This project also aligns with SAIT’s plans to expand CIRAMM’s newly established Alberta Aerospace Research Centre (AARC), advancing Alberta’s aerospace capabilities and elevating Canada’s standing in this critical industry.”
    –Dr. Hamid Rajani, Chair of CIRAMM – Centre for Innovation and Research in Advanced Manufacturing and Materials at ARIS

    “Sturgeon County is ideally situated near three army and two Royal Canadian Air Force bases, the epicenter of Alberta’s aerospace and defence sectors. Defining the skills, knowledge and expertise within the aerospace and defence ecosystem will help us attract further investment into our region. We’re thankful for PrairiesCan support, and are already seeing the benefits from this work as we engage in conversations with potential investors.”
    –Alanna Hnatiw, Mayor of Sturgeon County

    “Funding received by UVAD Technologies Inc. through PrairiesCan and the Aerospace Regional Recovery Initiative is critically important to our efforts in developing and commercializing an industry leading Uncrewed Aircraft Vehicle (UAV) on a global scale.  The Alpine Swift, UVAD’s all-electric UAV, has progressed significantly through the support of this program. Government support has also enabled Southern Alberta to attract world leading experts in the UAV field, and UVAD is strategically positioned to build on this expertise. UVAD has grown exponentially since establishing our facility in Medicine Hat, Alberta.”
    –David Birkett, President and CEO, UVAD Technologies Inc.

    Quick facts

    • Federal funding for these projects is being provided through PrairiesCan, the federal department that supports economic growth in Alberta, Saskatchewan and Manitoba.

    • The total federal investment of $4,350,160 announced today is allocated through three programs administered by PrairiesCan: the Aerospace Regional Recovery Initiative (ARRI), the Community Economic Development and Diversification (CEDD) program, and the Regional Innovation Ecosystems (RIE) program.

      • ARRI is a national program that is providing $250 million over three years to help the Canadian aerospace sector emerge from the pandemic and continue to compete on the global stage and the intake period is now closed.
      • CEDD supports economic development initiatives that contribute to the economic growth and diversification of communities across the Prairie provinces. Through this program, PrairiesCan enables communities to leverage their capacity and strengths to respond to economic development opportunities and adjust to changing and challenging economic circumstances.
      • RIE creates, grows and nurtures inclusive regional ecosystems that support what businesses need to innovate from start to finish and an environment where companies can innovate, grow and compete.
    • The Framework to Build a Green Prairie Economy is a long-term commitment to work differently, through stronger coordination among federal departments on investments for the Prairies and closer collaboration with Prairie partners on their priorities for a prosperous and sustainable Prairie economy.

    Associated links

    Contacts

    Carson Debert
    Press Secretary
    Office of the Minister of Northern Affairs and Minister responsible for PrairiesCan and CanNor
    Carson.Debert@rcaanc-cirnac.gc.ca

    Rohit Sandhu
    Communications Manager
    Prairies Economic Development Canada
    rohit.sandhu@prairiescan.gc.ca

    Stay connected

    Follow PrairiesCan on X (formerly Twitter) and LinkedIn

    Toll-Free Number: 1-888-338-9378
    TTY (telecommunications device for the hearing impaired): 
    1-877-303-3388

    MIL OSI Canada News

  • MIL-OSI Canada: Oil and gas greenhouse gas pollution cap – Backgrounder to CGI Regulations

    Source: Government of Canada News

    Backgrounder

    November 4, 2024

    Context

    The proposed oil and gas greenhouse gas (GHG) pollution cap will incentivize the sector to invest in technically achievable decarbonization to attain significant emission reductions by 2030-2032. The policy will put the sector on a pathway to carbon neutrality by 2050, while enabling it to continue to respond to global demand.

    Oil and gas companies in Canada have proven repeatedly that they can innovate and develop new technologies to produce more competitive oil and gas with less pollution.

    While it continues to be a major supplier to global markets, Canada’s oil and gas sector has the opportunity to reinvest in its own competitiveness ahead of the anticipated future decline in global demand for oil and gas in a low-carbon future. Reinvesting in cleaner oil and gas production ensures that the sector contributes its fair share to GHG reductions in Canada and positions Canada for a stronger future for its workers and economy.

    The oil and gas sector is experiencing record profits within Canada. Coming out of the pandemic, operating profits in the oil and gas sector increased tenfold from $6.6 billion in 2019 to $66.6 billion in 2022. Despite that, there has been limited and declining overall investment in the sector in Canada over the last several years.

    The proposed Regulations would establish a cap-and-trade system that is designed to recognize producers with better emission performance and motivate higher-polluting facilities to reinvest record profits into more pollution-reducing projects.

    The oil and gas sector is a major contributor to Canada’s economy. In 2023, the sector generated $209 billion in gross domestic product (GDP) (PDF) and accounted for 25% of Canada’s exports (valued at $177 billion). It is also a major employer across the country, directly employing 181,800 people in 2023.

    The oil and gas sector is also Canada’s largest source of GHG pollution, responsible for 31% of Canada’s GHG emissions in 2022. Decreasing emissions in the oil and gas sector by introducing a cap on GHG pollution is necessary to ensure that the sector contributes its fair share to Canada’s ongoing efforts to tackle climate change and reach our GHG emission reduction targets and international commitments under the Paris Agreement.

    Strengthening emission performance and carbon management technologies in Canada’s oil and gas sector

    Canada’s oil and gas sector has the potential to be a supplier of choice as the demand for oil and gas for combustion declines in a low-carbon future. This would enable the sector to continue to be a major employer and source of economic activity across Canada, particularly in oil- and gas-producing regions.

    The proposed Regulations put a limit on pollution, not production. The proposed Regulations are carefully designed around what is technically achievable within the sector, while enabling continued production growth in response to global demand. In fact, modelling shows that Canadian oil and gas production is projected to increase 16% between 2019 and the 2030-2032 period with the proposed Regulations in place.

    Major emissions-reduction opportunities are available, and oil and gas producers are already investing in them. Methane is a particularly potent greenhouse gas, and most methane emissions represent a wasted resource because they are from leaks and other unintended sources. Preventing methane emissions is one of the lowest-cost ways to reduce GHG emissions, and the sector’s efforts have resulted in a steady decline in these emissions. New regulations to be finalized later this fall will ensure that the sector continues to cut methane emissions by at least 75% from 2012 levels by 2030. 

    Carbon capture is also going to play an increasingly important role in reducing emissions from oil and gas production, and Canada is well placed to cement its position as a global leader in this critical technology. According to both the Intergovernmental Panel on Climate Change (IPCC) and the International Energy Agency (IEA), there is no credible path to carbon neutrality without carbon management technologies, such as carbon capture and storage, and their deployment must be rapid and immense, scaling up by nearly 200 times by 2050.

    The shift toward a low-carbon economy has created a rush of capital toward carbon management technologies worldwide. In the United States, there are many new carbon capture projects being deployed, with 150 currently under review at the U.S. Environmental Protection Agency.

    Canada has already established itself as a first mover and leader in the global carbon management sector, with some of the world’s first large-scale projects; favourable geology; cutting-edge innovators and start-ups; early investments in research, development, and demonstration; deep technical expertise; a robust policy and regulatory environment at the federal and provincial levels; and active international collaboration. The Government of Canada has launched a suite of policies with a mix of financial supports and regulatory measures to better position Canada’s economy for success.

    Approximately one-sixth of the world’s active large-scale carbon management projects, which use a range of approaches to capture carbon dioxide from point sources or directly from the atmosphere to be reused or durably stored, can be found in Canada, with a growing number in the construction, design and development phase across multiple sectors and regions.

    The continued development and deployment of carbon management technologies to help achieve Canada’s climate objectives will form the basis of a world-leading, multi-billion-dollar carbon management sector in Canada that supports inclusive, high-value employment, significant export opportunities and a more sustainable economy.

    Point-source carbon capture is a leading option for deep emissions reductions from the upstream oil and gas sector. Given the long lifespan of many existing heavy industrial facilities and the value of these industries to the Canadian economy, public-private collaboration is critical to advance strategic, economical, and regionally appropriate decarbonization pathways.

    The GHG oil and gas pollution cap adds to a suite of policy measures, which are designed to shift the oil and gas industry increasingly toward cleaner production through the use of carbon management systems and other technologies, including to reduce methane emissions and to switch to cleaner fuels. Those include other successful regulatory measures, such as federal, provincial, and territorial carbon pricing systems for industry, including Alberta’s TIER system, the federal Output-Based Pricing System, federal and provincial methane regulations, and the Clean Fuel Regulations.

    They also include a wide range of financial supports to support deployment and help develop the innovation ecosystem for carbon reduction technologies in Canada, including:

    • $319 million over 7 years for RD&D to advance the commercial viability of emerging carbon management technologies.
    • Refundable CCUS Investment Tax Credit (ITC), expected to provide $12.5 billion between 2022-2023 and 2034-2035, for eligible projects that enable permanent CO2 storage.
    • The Canada Growth Fund, totalling $15 billion, offers investment tools such as contracts for differences designed to address risk and accelerate private sector investment to grow Canada’s clean economy, including in the carbon management sector.
    • Strategic Innovation Fundwith $8 billion in funding to help companies reduce emissions and grow their business sustainably.
    • The Canada Infrastructure Bank (CIB) invests in CCUS infrastructure projects, including through its Project Acceleration funding for front-end engineering and design (FEED) capital expenditures.

    Increasingly, large-scale carbon capture projects are being built in both the oil and gas sector and other sectors. Recent projects include:

    • Strathcona Resources, an oilsands company with assets in Saskatchewan and Alberta and Canada’s fifth-largest oil producer, is launching a $2 billion project to store up to two million tonnes of CO2 per year, while creating hundreds of new jobs. The project has received support from the Canada Growth Fund.
    • Entropy, an Alberta-based company, is working on a project that will enable emissions reductions of approximately 2.8 million tonnes over 15 years and support more than 1,200 good jobs for Albertans.
    • Shell announced two new projects in Alberta: the Polaris Carbon Capture project and the Atlas Carbon Storage Hub. These projects aim to reduce industrial emissions by transitioning to cleaner technology. The Polaris project will capture approximately 650,000 tonnes of carbon a year while the Atlas project will store the captured carbon from Polaris and potentially other industrial facilities in the future. Once complete in 2028, these projects are expected to generate up to 2,000 jobs for Albertans.
    • The North West Redwater (NWR) Sturgeon Refinery, also operating in the Alberta Industrial Heartland, is the world’s first bitumen refinery built with carbon capture. 
    • The Alberta Carbon Trunk Line (ACTL), which transports captured carbon from facilities for storage in oil fields, will be used by new carbon capture projects throughout the province to transport captured CO2 to final storage sites.  
    • Linde announced an investment of more than $2 billion to build a clean hydrogen facility that will supply Dow’s Path2Zero production complex in Alberta. The facility will capture more than 2 million tonnes of carbon dioxide emissions per year for sequestration.

    Extensive consultation to date on the oil and gas GHG pollution cap

    The Government of Canada has engaged a broad range of partners and stakeholders on the oil and gas GHG pollution cap, including provinces and territories, Indigenous partners, industry, environmental groups, and Canadians. The government has held webinars, convened meetings, and published discussion papers to seek input and feedback. Since November 2021, the government has received over 250 written submissions from organizations, held over 100 meetings, and hosted seven public webinars.  

    The government published a Regulatory Framework to Cap Oil and Gas Sector GHG Emissions in December 2023. This Framework confirmed the government’s intent to implement the oil and gas GHG pollution cap through a new cap-and-trade system, and proposed various regulatory design features, including which subsectors would be covered by the oil and gas GHG pollution cap, the level of the GHG pollution cap, and rules about flexible compliance options.

    The proposed Regulations are carefully designed based on what is technically achievable in the sector, setting a limit on pollution, not production. Technically achievable emissions reductions were estimated based on an assessment of the abatement technologies that could feasibly be deployed within the upstream and LNG activities in the oil and gas sector by 2030-2032, considering the status of available technologies, projected levels of production, the availability of equipment and labour, and timelines for permitting and approvals.

    Estimates of technically achievable reductions included reductions related to compliance with the strengthened methane regulations, installation of carbon capture and storage technology, and electrification. The risk that not all technically achievable reductions would be implemented in time for the first compliance period was also taken into consideration.

    The government has now published proposed Regulations (PDF) to implement the oil and gas GHG pollution cap, and invites input from November 9, 2024, to January 8, 2025. The government will continue to engage with partners and stakeholders in the development of final regulations.

    Key components of the proposed national cap-and-trade system for oil and gas greenhouse gas pollution

    The proposed Oil and Gas Sector Greenhouse Gas Emissions Cap Regulations (proposed Regulations) would establish a national cap-and-trade system that would apply to upstream oil and gas activities including onshore and offshore oil and gas production; oil sands production and upgrading; natural gas production and processing; and the production of LNG.

    The proposed Regulations have been developed under the Canadian Environmental Protection Act, 1999 (CEPA). Since 1988, CEPA has been used to address a wide range of environmental issues, including air pollution, chemicals, plastics and GHG emissions.

    • The cap-and-trade system will freely allocate emissions allowances to facilities covered by the system. At the end of each year, each facility will need to remit to the government one allowance for each tonne of carbon pollution it has emitted. Over time, the government will give out fewer allowances, corresponding to the declining emissions cap.
    • Operators will face an ongoing incentive to reduce their emissions. If an operator does not have enough allowances to cover their emissions, they will be able to buy allowances from other operators that have invested in pollution reduction. Operators can also contribute to a decarbonization program or use GHG offset credits to cover a small portion of their emissions (up to 10% for the decarbonization program and up to 20% for offsets, for a maximum of 20% for both options). The decarbonization program would fund projects that support the reduction of emissions from the sector. The total of all allowances and the overall 20% limit on compliance flexibility creates a legal upper bound on emissions from the sector.
    • The oil and gas GHG pollution cap will limit emissions, not production, and will encourage industry to reinvest into projects that lower pollution while providing flexibility to respond to changes in the global market.  
    • To make sure the oil and gas GHG pollution cap accounts for current activity levels, the proposed Regulations would use data reported by operators for 2026 to set the first oil and gas GHG pollution cap level. The oil and gas GHG pollution cap for the first compliance period, 2030-2032, would be set at 27% below emissions reported for 2026, which is estimated to be equivalent to 35% below 2019 emissions.
    • Using 2026 for reported data means the oil and gas GHG pollution cap would be based on real-world conditions. The final oil and gas GHG pollution cap level would be published before the end of 2027.
    • The proposed Regulations allocate allowances to covered operators using specified distribution rates—defined in allowances per unit of production—for each type of covered activity. Allowances will be distributed before the start of each year (starting in 2029 for 2030, the first compliance year). To ensure that allowances are distributed to the level of the emissions cap for each year, the allowances distributed would be pro-rated across all facilities receiving them.

    The system would be phased in for the first four years (2026-2029). During that period, operators would be required to register and report their emissions and production. Large emitters will start reporting in 2027 for their 2026 emissions and production levels. Reporting for small operators would start in 2029 for their 2028 levels. Operators would need to submit verified annual reports to Environment and Climate Change Canada for their facilities for every calendar year. Reports would be due on June 1 of the following year. The reports would be used to identify which operators will be subject to the pollution cap and have remittance obligations.

    Annual reports would include the GHG emissions attributed to the facility and the production amount by industrial activity. The Quantification Methods for the Oil and Gas Sector Greenhouse Gas Emissions Cap Regulations (the Quantification Methods) would define methods to calculate each source of emissions and would provide certain default values. In addition to the draft regulations, the government is seeking feedback on the Quantification Methods.

    All operators would be required to register and report, but only large operators (producing above an annual threshold of 365,000 barrels of oil equivalent) would have to remit allowances to cover their emissions. Large operators account for approximately 99% of the upstream sector’s emissions. The government would distribute emissions allowances to covered operators annually, before the start of each compliance year. Allowances would be pro-rated across all covered operators’ facilities based on historical production volumes. Allowances would not be able to be used for compliance under other carbon pricing systems, such as the federal Output-Based Pricing System (OBPS). There would be no limits to the number of allowances operators covered under the oil and gas GHG pollution cap could hold, and allowances could be traded among operators.

    Emissions allowances and offsets could be banked for use in a limited number of future years. Decarbonization units would not be tradable or bankable.

    Economic impacts of the proposed Regulations

    Environment and Climate Change Canada undertook an economic cost-benefit analysis of the proposed Regulations. Costs and benefits have been evaluated relative to a baseline that assumes production in the oil and gas sector grows, existing federal and provincial GHG measures remain in place, and the sector achieves the 75% reduction in methane emissions relative to 2012 levels, as a result of the forthcoming oil and gas methane regulations.

    The proposed pollution cap Regulations are estimated to result in net cumulative GHG emission reductions of 13.4 Mt above the baseline of reductions between 2025 and 2030-2032 that will be achieved by existing measures. That incremental reduction is valued at almost $4 billion in avoided global climate change damages. When compared to the costs, modelling showed that the proposed Regulations are estimated to have net benefits of $428 million for Canada.

    Importantly, this multi-million-dollar benefit does not account for a wide range of additional benefits likely to be associated with the proposed Regulations, including:

    • the additional economic activity and jobs associated with post-2032 investments in carbon capture, utilization and storage (CCUS) and other major decarbonization activities;
    • the stimulation of innovation and new low-carbon industries, such as clean hydrogen;
    • the economic and health benefits of reducing air pollution, which will improve the quality of life for many people and reduce the strain on our healthcare systems; and
    • the longer-term competitiveness benefits of a decarbonized Canadian oil and gas sector in a world that continues to take action to fight climate change and adhere to existing international and domestic climate commitments.

    The oil and gas sector directly and indirectly supports a significant workforce, especially in British Columbia, Alberta, Saskatchewan, and Newfoundland and Labrador. Modelling for the 2019 to 2030-2032 period shows that labour expenditure in the sectors covered by the proposed Regulations is expected to grow by 53%, which is only slightly below the 55 % growth in the baseline scenario.

    Additionally, jobs in clean energy will continue to grow. A 2023 Clean Energy Canada report found that Canada will see 700,000 more energy jobs in a carbon-neutral 2050 scenario than we have today. 419,000 of these jobs will be in Alberta, representing three jobs for every individual worker employed in Alberta’s upstream energy sector as of 2022.

    Oil and gas prices correspond to global market demand, and they do not typically reflect the cost of production. As such, the risk of compliance costs passed through from the oil and gas sector to Canadians is very low, and the proposed Regulations are not expected to affect the cost of everyday items such as fuel or groceries.

    Provincial leadership

    British Columbia previously announced it will put in place an oil and gas emissions cap to serve as a backstop to the federal policy. The goal will be to meet BC’s greenhouse gas emission reduction targets and avoid regulatory duplication and administrative burden for the oil and gas sector.

    Alberta, in its Emissions Reduction and Energy Development Plan (2023), communicated its goal to achieve carbon neutrality by 2050 and signalled it would explore options to achieve a 75-80% reduction in methane emissions from conventional oil and gas by 2030. Alberta has had a price on carbon emissions since 2007, making it the first jurisdiction in North America to price carbon. The province’s industrial carbon pricing system, implemented as set out in the Technology Innovation and Emissions Reduction (TIER) Regulation, recycles its proceeds to invest in emissions reduction projects including in the oil and gas sector, such as methane emissions abatement.

    Saskatchewan is a leader in carbon capture and sequestration technology, with several projects aimed at capturing CO2 emissions from oil and gas production. In 2014, the Boundary Dam project became the first power station in the world to successfully use carbon capture and storage technology. The province is also addressing methane emissions, including improving leak detection and repair practices and implementing best practices for gas flaring and venting.

    Newfoundland and Labrador’s offshore oil sector is already one of the lowest-emitting in the country. The newest planned production project—Bay du Nord—was approved with the historic requirement for the project to reach net-zero emissions by 2050. Like all other oil- and gas-producing provinces, NL implements a price on industrial carbon emissions via its provincial output-based pricing system.

    Note on third party reports

    The Government of Canada is aware of third-party reports conducted by Conference Board of Canada, Deloitte and S&P.

    These reports are based on a broad range of assumptions including elements of the previously published Regulatory Framework or, in some cases, other assumptions made by the authors. A common assumption found in the reports was that the oil and gas sector would take limited to no additional action to reduce emissions without the regulations.

    These reports do not reflect an accurate analysis of the current draft regulations. The Government of Canada welcomes continued sharing of analysis to help refine the proposed Regulations.

    MIL OSI Canada News

  • MIL-OSI USA: Disaster Recovery Center Will Open Tuesday in Macon County

    Source: US Federal Emergency Management Agency 2

    strong>RALEIGH, N.C. –  A Disaster Recovery Center (DRC) will open Tuesday, Nov. 5, in Franklin (Macon County) to assist North Carolina survivors who experienced loss from Tropical Storm Helene.  
    The Macon County DRC is located at:
    Macon County Public Health Center
    1830 Lakeside Drive
    Franklin, NC 28734
    Open: 8 a.m. – 7 p.m. daily
    A DRC is a one-stop shop where survivors can meet face-to-face with FEMA representatives, apply for FEMA assistance, receive referrals to local assistance in their area, apply with the U.S. Small Business Administration (SBA) for low-interest disaster loans and much more.  
    FEMA financial assistance may include money for basic home repairs, personal property losses or other uninsured, disaster-related needs such as childcare, transportation, medical needs, funeral or dental expenses. 
    To find additional DRC locations, go to fema.gov/drc or text “DRC” and a ZIP code to 43362. All centers are accessible to people with disabilities or access and functional needs and are equipped with assistive technology.   
    Homeowners and renters in 39 North Carolina counties and tribal members of the Eastern Band of Cherokee Indians can visit any open center, including locations in other states. No appointment is needed.  
    It is not necessary to go to a center to apply for FEMA assistance. The fastest way to apply is online at DisasterAssistance.gov or via the FEMA App. You may also call 800-621-3362. If you use a relay service, such as video relay, captioned telephone or other service, give FEMA your number for that service. 

    MIL OSI USA News

  • MIL-OSI USA: NASA, Bhutan Conclude Five Years of Teamwork on STEM, Sustainability

    Source: NASA

    NASA and the Kingdom of Bhutan have been actively learning from each other and growing together since 2019. The seeds planted over those years have ripened into improved environmental conservation, community-based natural resource management, and new remote sensing tools.
    Known for its governing philosophy of “gross national happiness,” [Bhutan] has a constitutional mandate to maintain at least 60% forest cover. The government’s goals include achieving nationwide food security by 2030. 
    Bhutan first approached the U.S. State Department to partner on science, technology, engineering, and mathematics (STEM) opportunities for the country, and NASA was invited to help lead these opportunities. In 2019, Bhutan’s King Jigme Khesar Namgyel Wangchuck visited NASA’s Ames Research Center in Silicon Valley, California, and was introduced to several NASA programs.
    NASA’s Earth scientists and research staff from several complementary programs have helped support Bhutan’s goals by providing data resources and training to make satellite data more useful to communities and decision makers. Bhutan now uses NASA satellite data in its national land management decisions and plans to foster more geospatial jobs to help address environmental issues.
    Supporting Bhutan’s Environmental Decision Makers
    Bhutan’s National Land Commission offers tax breaks to farmers to support food security and economic resilience. However, finding and reaching eligible farmers on the ground can be expensive and time consuming, which means small farmers in remote areas can be missed. 
    A team from SERVIR – a joint NASA-U.S. Agency for International Development initiative – worked with Bhutanese experts to create decision-making tools like the Farm Action Toolkit  (FAcT). The tool uses imagery from the NASA-U.S. Geological Survey Landsat satellites to identify and measure the country’s farmland. SERVIR researchers met with agricultural organizations – including Bhutan’s Ministry of Agriculture and Livestock, National Statistics Bureau, and National Center for Organic Agriculture – to adjust the tool for the country’s unique geography and farming practices. The Land Commission now uses FAcT to identify small farms and bring support to more of the country. 
    NASA also develops local capacity to use Earth data through efforts like the Applied Remote Sensing Training Program (ARSET). In early 2024, ARSET staff worked with SERVIR and Druk Holdings and Investments (DHI) to host a workshop with 46 Bhutanese government personnel. Using tailored local case studies, the teams worked to find ways to better manage natural resources, assist land use planning, and monitor disasters. 
    “We look forward to continuing this collaboration, as there are still many areas where NASA’s expertise can significantly impact Bhutan’s development goals,” said Manish Rai, an analyst with DHI who helped coordinate the workshop. “This collaboration is a two-way street. While Bhutan has benefited greatly from NASA’s support, we believe there are also unique insights and experiences that Bhutan can share with NASA, particularly in areas like environmental conservation and community-based natural resource management.” 

    Encouraging Bhutan’s Future Environmental Leaders
    By working with students and educators from primary schools to the university level, Bhutan and NASA have been investing in the country’s future environmental leadership. Supporting educators and “training trainers” have been pillars of this collaboration.
    NASA and Bhutan have worked together to boost the skills of early-career Earth scientists. For example, NASA’s DEVELOP program for undergraduates worked directly with local institutions to create several applied science internships for Bhutanese students studying in the U.S. 
    Tenzin Wangmo, a high school biology teacher in Bhutan, participated in DEVELOP projects focusing on agriculture and water resources. According to Wangmo, the lessons learned from those projects have been helpful in connecting with her students about STEM opportunities and environmental issues. “Most people only think of NASA as going to space, rather than Earth science,” she said. “It was encouraging to my students that there are lots of opportunities for you if you try.”
    NASA is also supporting Bhutan’s future environmental leadership through the GLOBE (Global Learning and Observations to Benefit the Environment) Program. The GLOBE program is a U.S. interagency outreach program that works with teachers to support STEM literacy through hands-on environmental learning. Since 2020, GLOBE has worked through the U.S. State Department and organizations like the Ugyen Wangchuck Institute for Forest Research and Training to support educators at two dozen schools in Bhutan. The program reached more than 650 students with activities like estimating their school’s carbon footprint. 
    This focus on STEM education enables students and professionals to contribute to Bhutan’s specific development goals now and in the future. 
    Sonam Tshering, a student who completed two DEVELOP projects on Bhutanese agriculture while studying at the University of Texas at El Paso, was able to share the value of these efforts at the 2023 United Nations Climate Conference. “By applying satellite data from NASA, we aimed to create actionable insights for our local farmers and our policymakers back in Bhutan,” she said. 
    By Jacob Ramthun and Lena Pranksy, SERVIR Communications Team, and Jonathan O’Brien, ARSET Communications Team
    News Media Contact
    Lane FigueroaMarshall Space Flight Center, Huntsville, Ala.256.544.0034lane.e.figueroa@nasa.gov 

    MIL OSI USA News

  • MIL-OSI USA: $20 Million for Home Resiliency Repairs and Upgrades

    Source: US State of New York

    Governor Kathy Hochul today announced up to $20 million is available for eligible homeowners in flood prone areas to make proactive flood mitigation and energy-efficiency improvements to their homes as part of a new round of funding for the Resilient Retrofits Program. This latest round of funding builds upon the program’s initial $10 million allocation as part of a pilot phase in 2023.

    “We are committed to building resilient communities and ensuring more New Yorkers are protected from extreme weather before it occurs,” Governor Hochul said. “By expanding our successful Resilient Retrofits program, eligible homeowners have access to additional resources that can help keep their families and their homes out of harm’s way.”

    Eligible homeowners earning up to 120 percent of their Area Median Income can apply for up to $50,000, half of which is available as a grant and half as a three percent low-interest loan. Program funds can be used to cover the cost of proactive improvements such as: installing flood vents, a sump pump, or backwater valve/backflow preventer; moving utilities above the flood line; adding insulation; electrifying heating systems; or installing energy efficient appliances or lighting.

    Resilient Retrofits is managed by New York State Homes and Community Renewal’s Office of Resilient Homes and Communities, a permanent office which assumed the portfolio of the Governor’s Office of Storm Recovery in 2022.

    The program has three local program administrators – Home HeadQuarters based in Syracuse, the Center for New York City Neighborhoods based in New York City, and Community Development Corporation of Long Island based in Suffolk County. All program administrators are now accepting applications. Contact information, along with program information, is available on HCR’s website.

    Since Resilient Retrofits launched as a pilot in 2023, more than 200 homeowners have been approved and 60 homes have completed their resiliency upgrades. Applications have been received from homeowners in cities across the State including Syracuse, Buffalo and New York City. The program also served nearly 20 homeowners in the Shinnecock Tribal Nations in the town of Southampton.

    The program complements New York’s efforts to address climate change by achieving economy-wide carbon-neutrality by 2050 and is an example of HCR’s investments in sustainability and resilience including long-term recovery efforts for Hurricane Ida, investing clean energy projects in affordable housing and assisting residents with weatherization of their homes among other initiatives.

    New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “The unpredictability and ferocity of storms caused by climate change requires us to take proactive steps to protect our communities in the face of future serious weather. By expanding this innovative program, we can help hundreds of additional homeowners so they can make the types of improvements that protect their homes for the long-term. We thank Governor Hochul for her holistic approach to preserving the State’s housing stock, strengthening resiliency, mitigating flooding and reducing greenhouse gas emissions in our communities.”

    State Senator Brian Kavanagh said, “I’ve been happy to work closely with Governor Hochul, Commissioner Visnauskas and my colleagues in the Legislature to fund the Resilient Retrofits Program. We need to continue to expand this and other initiatives to ensure that all New Yorkers have access to affordable, safe and sustainable housing, and to take decisive action to mitigate the adverse effects of climate change. Building upon our ongoing energy transition and resiliency work, such as the All-Electric Building Act and the Climate Friendly Homes Fund, this infusion of funds will enable New Yorkers to make critical improvements to reduce flood risk and make their homes more resilient and energy-efficient. I thank Governor Hochul, Commissioner Visnauskas and everyone at HCR involved in implementing this program, my colleagues in the Legislature, the community organizations administering the grants and the participating property owners, for their ongoing commitment to making New York a leader in sustainability. I look forward to working to increase funding for this program in the years to come.”

    Queens Borough President Donovan Richards Jr. said, “Queens knows all too well the devastating impacts that climate change can deal to our communities. From Superstorm Sandy to Hurricane Ida and beyond, Queens residents have had their properties and lives forever altered by flood waters, even in inland neighborhoods. The resilient retrofit program has been a game-changer for residents who want to protect their homes from these dangers. I applaud Governor Hochul for this critical expansion of funding, representing a direct investment in the long-term health of our communities.”

    Home HeadQuarters Founder and CEO Kerry Quaglia said, “Home HeadQuarters is honored to be a part of the New York State Resilient Retrofits Program, a program that delivers vital funding to help homeowners fortify their homes against future flood, rain and climate damage. We know that flooding can happen anytime and anywhere, severely impacting what is often a family’s greatest investment — their home. We are grateful that New York State is responding to our changing climate and helping us support our community’s homeowners.”

    Community Development Long Island President & CEO Gwen O’Shea said, “Long Island ranks among the most vulnerable regions in the country for exposure to the physical and economic risks of climate change; specifically rising sea levels and flooding. CDLI is proud to partner with Governor Hochul and HCR to provide financial support through the Resiliency Retrofit program. These critical funds will allow homeowners to undertake the vital mitigation and sustainability improvements to protect their most precious asset, their home.”

    Center for NYC Neighborhoods CEO and Executive Director Christie Peale said, “We are honored to partner with Governor Hochul and the HCR in advancing the Resilient Retrofits program. This critical funding will empower New York City’s low- and moderate-income homeowners to protect their homes against the impacts of climate change and improve energy efficiency, while supporting community resilience. The Center for NYC Neighborhoods is committed to ensuring that every eligible homeowner has access to these vital resources, strengthening neighborhoods across the City and fostering long-term stability in the face of increasing environmental challenges.”

    New York State’s Nation-Leading Climate Plan
    New York State’s climate agenda calls for an orderly and just transition that creates family-sustaining jobs, continues to foster a green economy across all sectors, and ensures that a minimum of 35 percent, with a goal of 40 percent, of the benefits of clean energy investments are directed to disadvantaged communities. Guided by some of the nation’s most aggressive climate and clean energy initiatives, New York is advancing a suite of efforts — including the New York Cap-and-Invest program (NYCI) and other complementary policies — to reduce greenhouse gas emissions by 40 percent by 2030 and 85 percent by 2050 from 1990 levels.

    New York is also on a path toward a zero-emission electricity sector by 2040, including 70 percent renewable energy generation by 2030 and economy-wide carbon neutrality by mid-century. A cornerstone of this transition is New York’s unprecedented clean energy investments, including more than $28 billion in 61 large-scale renewable and transmission projects across the State, $6.8 billion to reduce building emissions, $3.3 billion to scale up solar, nearly $3 billion for clean transportation initiatives and over $2 billion in NY Green Bank commitments.

    These and other investments are supporting more than 170,000 jobs in New York’s clean energy sector as of 2022 and an over 3,000 percent growth in the distributed solar sector since 2011. To reduce greenhouse gas emissions and improve air quality, New York also adopted zero-emission vehicle regulations, including the requirement for all new passenger cars and light-duty trucks sold in the State to be zero emission by 2035. Partnerships are continuing to advance New York’s climate action with more than 420 registered and more than 150 certified Climate Smart Communities, over 500 Clean Energy Communities and the State’s largest community air monitoring initiative in 10 disadvantaged communities across the State to help target air pollution and combat climate change.

    MIL OSI USA News

  • MIL-OSI USA: Middlesex in the Loop – November 2024

    Source: US State of Connecticut

    Business Students Sell Smoothies

    On October 16, business marketing students held a festive smoothie challenge, raising almost $500 for local charities. Four groups created themed and diverse flavored smoothies, sold and made on-site. The best table presentation and best-tasting smoothie went to Table 3: Haunted Harvest Team. Charities included Save the Children Foundation, Gardner’s House, Gilead Community Services and Connecticut Humane Society. Business professor Carrie Foligno mentioned the charity fundraiser has brought in $16,250 in 9.5 years.

    MIL OSI USA News

  • MIL-OSI USA: Following Casey’s Push for Injunction, Court Temporarily Halts Charleroi Plant Closure

    US Senate News:

    Source: United States Senator for Pennsylvania Bob Casey
    Earlier this month, Casey released a report exposing how private equity machinations have culminated in decision to close Charleroi Pyrex plant
    Casey called for federal investigation into the shady business dealings and injunction to protect PA workers
    Washington, D.C. – Today, U.S. Senator Bob Casey released the following statement after a federal district court issued a temporary restraining order against Anchor Hocking at the request of Pennsylvania Attorney General Michelle Henry, temporarily blocking the closure of the Charleroi Pyrex plant pending a formal hearing. Last month, Casey released a report exposing how questionable financial engineering and shady business deals by a private equity firm had culminated in the decision to close the plant, and urged officials to block the plant closure pending a full investigation into the matter.
    “Charleroi has a generational legacy of glass manufacturing, and the plant’s closure would be a slap in the face to the workers, their community, and the people of Pennsylvania,” said Senator Casey. “It’s clear that enforcement agencies must continue to investigate the shady business dealings and private equity machinations that have culminated in this attempted closure. This is a temporary measure, but it is an important first step and I’m thankful to the Attorney General’s office for taking this action. I will continue working every day to protect union jobs and hold Wall Street executives accountable for the havoc they are wreaking in our Commonwealth.”
    Immediately upon learning of Anchor Hocking’s plans to close the plant on September 5th, Senator Casey’s office reached out to the plant’s union leadership and Charleroi Borough officials, connecting them with federal and state authorities. Casey’s office also helped convene a task force of county commissioners, borough officials, and local economic development leaders. Casey’s staff also alerted the White House Interagency Working Group on Coal and Power Plant Communities and Economic Revitalization to the situation, leading to several federal officials visiting Charleroi on September 11th. On September 19th, Senator Casey sent a letter to Anchor Hocking demanding an explanation for the closure and imploring the company to reconsider its actions. On September 20th, Senator Casey and Senate Finance Committee Chair Senator Ron Wyden successfully requested a joint confidential briefing with the Federal Trade Commission (FTC) on questions concerning Anchor Hocking’s assumption of control of the Pyrex manufacturing operation in Charleroi.
    On October 18, Casey released a report, Charleroi, PA: An Example of How Private Equity is Shattering the Glass Industry and Leaving Workers Behind, which exposed the questionable financial engineering and shady business deals that culminated in Centre Lane’s recent decision to close the plant, leaving its workers as collateral damage. In the report and a follow up letter to FTC Chair Lina Khan, Casey called on the Federal Trade Commission (FTC) and Department of Justice (DOJ) to take action to block the plant closure pending the outcome of a full investigation into the private equity firm for its efforts to potentially evade regulatory rules, strip the plant bare, and lay off Pennsylvania workers. In addition to his efforts at the federal level, Senator Casey has also been in touch with state officials in Pennsylvania to advocate for state action that could prevent the plant closure pending a full investigation into these concerns.

    MIL OSI USA News

  • MIL-OSI USA: Turkish National Arrested for Allegedly Conspiring to Violate Venezuela-Related Sanctions

    Source: US State of Vermont

    Taskin Torlak, 37, of Turkey, was arrested in Miami, on Nov. 2 for allegedly conspiring to violate U.S. sanctions as part of a scheme to transport oil from Venezuela for the benefit of Petróleos de Venezuela, S.A. (PdVSA), Venezuela’s state-owned oil and natural gas company.

    “As alleged, the defendant conspired to evade U.S. sanctions imposed on PdVSA, deploying deception to smuggle black-market oil from Venezuela,” said Assistant Attorney General Matthew G. Olsen of the Justice Department’s National Security Division. “The Justice Department will continue to hold accountable those involved in criminal efforts to circumvent sanctions imposed on the Maduro regime.”

    “This defendant allegedly conspired to illegally sell Venezuelan oil, using deceit and trickery to hide the fact that this oil originated from Venezuela,” said U.S. Attorney Matthew Graves for the District of Columbia. “Venezuela’s state-owned oil company, PdVSA, was sanctioned by the U.S. government to prevent the current regime from further depleting the nation’s resources while it unlawfully remains in power.  We remain dedicated to prosecuting violations of these sanctions until the government of Venezuela takes the necessary steps for these sanctions to be lifted.”

    Torlak was arrested as he attempted to depart the United States to return to Turkey. He is charged by complaint with one count of conspiring to violate the International Emergency Economic Powers Act (IEEPA). According to the complaint, Torlak conspired with others to cause U.S. financial institutions to process transactions connected to the transport of Venezuelan oil for the benefit of PdVSA, which the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated as a Specially Designated National (SDN) in January 2019.

    According to the complaint, beginning at least in or around November 2020, Torlak and others devised and implemented a complex scheme to violate and evade U.S. sanctions related to petroleum products from Venezuela and Iran. The scheme included obfuscating the identities of tankers moving the oil by re-naming and re-flagging vessels, covering vessel names with paint or blankets, and turning off the electronics that track vessels’ locations for the safety of ships and their crews. Torlak and his co-conspirators allegedly received tens of millions of dollars from PdVSA in payment for transporting Venezuelan oil, and hid the ultimate beneficiaries of the related transactions from U.S. financial institutions, who then unwittingly processed payments in furtherance of the scheme. The complaint further alleges that Torlak and his co-conspirators explicitly discussed the need to hide their conduct from the U.S. Government and its agencies, including OFAC, as well as commercial maritime entities.

    Homeland Security Investigations Washington D.C. is investigating the case.

    Assistant U.S. Attorney Maeghan Mikorski for the District of Columbia and Trial Attorneys Sean Heiden and Chantelle Dial of the National Security Division’s Counterintelligence and Export Control Section are prosecuting the case. Valuable assistance was provided by the U.S. Attorney’s Office for the Southern District of Florida.

    A complaint is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL OSI USA News

  • MIL-OSI USA: Welsh Semiconductor Company Plans to Expand Greensboro Operation for Next Generation Compound Semiconductor Materials

    Source: US State of North Carolina

    Headline: Welsh Semiconductor Company Plans to Expand Greensboro Operation for Next Generation Compound Semiconductor Materials

    Welsh Semiconductor Company Plans to Expand Greensboro Operation for Next Generation Compound Semiconductor Materials
    mseets

    Today, IQE, Inc., a global semiconductor manufacturer, announced an expansion in Guilford County, signaling its ongoing commitment to future investment in the region, subject to customer commitments and funding from the federal CHIPS Act. The company plans to add 109 jobs and invest $305 million over several years to expand its manufacturing facility for next generation compound semiconductor material in the City of Greensboro.

    “North Carolina is a manufacturing powerhouse at the intersection of innovation and legacy,” said Governor Cooper. “IQE’s major reinvestment in Guilford County is a testament to the quality of our world-class workforce, the strength of our business climate, and our leadership in clean energy and technology.”

    IQE, Inc. is the United States subsidiary of IQE, PLC. Operating in Greensboro for more than a decade and with 72 employees, IQE manufactures epi wafers using molecular beam epitaxy for the defense and aerospace industries. This potential investment would add a new, complementary epitaxy called metal-organic chemical vapor deposition (MOCVD) and would provide a new clean technology for semiconductor chip production to help serve the electric vehicle market.

    “Greensboro has proven to be a strategic location for IQE and has provided access to exceptional talent,” said Jutta Meier, Interim CEO of IQE. “We look forward to continuing our partnership with the city as we progress further with our application for Government funding via the CHIPS Act, which along with funding commitments from the State, will provide us with the capital to invest and expand our local footprint.”

    “North Carolina has more than 110 companies exporting $1.2 billion of semiconductors and microelectronics around the world,” said N.C. Commerce Secretary Machelle Baker Sanders. “As one of the top states to do business, this expansion validates our reputation for the best talent and research partnerships that continue to attract and retain advanced manufacturers like IQE.”

    Although salaries will vary by position, the average annual wage will be $64,908, which exceeds the Guilford County average of $58,843. These new jobs could potentially create an annual payroll impact of more than $7 million for the region.

    A performance-based grant of $275,000 from the One North Carolina Fund will help facilitate IQE’s expansion in North Carolina. The One NC Fund provides financial assistance to local governments to help attract economic investment and create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require matching participation from local governments and any award is contingent upon that condition being met.

    “This announcement is outstanding news for Guilford County and the entire state,” said N.C. Senator Michael Garrett. “IQE has been a great corporate citizen for more than a decade, and I look forward to seeing the positive impact these new good-paying jobs will have on our local economy.”

    Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina General Assembly, the Commerce Department’s Division of Workforce Solutions, the North Carolina Community College System, Guilford Technical Community College, GuilfordWorks, the City of Greensboro, Guilford County, the Guilford County Economic Development Alliance, the Greensboro Chamber of Commerce and Duke Energy.

    ###

    Nov 4, 2024

    MIL OSI USA News

  • MIL-OSI Global: US election: how does the electoral college voting system work?

    Source: The Conversation – UK – By Richard Hargy, Visiting Research Fellow in International Studies, Queen’s University Belfast

    The electoral votes in swing states are likely to edge one candidate over the line. Tomas Ragina/Shutterstock

    On November 5, millions of Americans will cast their votes for president, with the vast majority deciding between Democrat Kamala Harris or Republican Donald Trump. This historic election, however, is not determined by a singular national poll, but rather a state-by-state contest. Many people outside the US, and some inside, do not understand how this complicated system works.

    Here are five things to know about the electoral college system:

    1. It’s not one electoral contest, but 50 separate races

    The founding fathers opted against a national popular vote where the winning candidate just has to gain a majority of votes to claim victory. They decided instead to establish an electoral college under Article II of the US Constitution.

    Under this system, voters in every US state and the District of Columbia decide the outcome of a winner-takes-all contest for their state’s electoral votes. Each state is allocated a set number of electoral votes, in line with the size of its population. For example, Texas, with a population of over 29 million, has 50 electoral votes. North Dakota, on the other hand, has a population of under 800,000 and is apportioned three.

    By securing a majority of the vote in a state, a candidate collects its allotted electoral college votes. There are 538 in total, with the winner needing at least 270 to secure the presidency (with their running-mate becoming vice-president).

    Maine and Nebraska are the only two exceptions to the winner-takes-all approach. These states also use their congressional districts to allocate some electoral college votes: two go to each state’s overall popular vote winner, while one goes to the popular vote winner in each congressional district (two districts in Maine, three in Nebraska).

    So, when Americans mark their ballot with their choice for president, this vote is technically not awarded automatically to the candidate. Rather, it goes to the individual state’s electors. These people convene across all 50 states once the election is complete, then formally send their state’s electoral votes to the US Congress. The electors are usually state election officials or prominent party members.

    Brown University professor of political science Wendy Schiller explained the choice of an electoral college system more than 200 years ago was rooted in a distrust of citizens to make a reasoned choice: “The origins of the electoral college were not supposed to reflect voter opinion at all – it was to be a gate against making a bad choice. It was an elite bulwark against popular opinion.”

    2. It can allow for unpredictable and unruly outcomes

    By its very nature, the electoral college can result in two unusual, but not improbable, scenarios. First, a candidate can win the electoral college while losing the popular vote and still become president – as happened most recently in 2000 with George W. Bush and in 2016 with Trump.

    Secondly, the system allows for a situation were neither candidate wins a majority of electoral votes. If there is a 269-269 tie, a “contingent election” is held under the 12th Amendment. In this case, members of the new House of Representatives, sworn in on January 3 2025, would choose the next president. They do not vote based on individual preference. Instead, every state delegation gets one vote, with a simple majority of 26 state delegation votes needed to decide who becomes president. This has happened only twice in presidential elections, in 1801 and 1825. The House must continue voting until a president is elected.

    A history of the electoral college system.

    3. In 2020, Trump’s supporters sought to challenge the electoral college results

    State legislators can object to their state’s general election outcome during the congressional certification. This happened in 2020 when a group of Republicans objected to results in Pennsylvania and Arizona – both won by Democrat Joe Biden. After supporters of Trump stormed the Capitol building in January 2021, protesting the official authorisation of votes, Congress updated the 1800s-era Electoral Count Act to make it harder to challenge the electoral college result.

    Following the 2020 election, certain electors in several swing states attempted to falsely declare Trump the winner. These included high-profile Republicans in Georgia, Michigan, Nevada, Arizona and Wisconsin. Trump’s campaign lawyer, Kenneth Chesebro, pleaded guilty in Georgia to his role in subverting the election.

    There are fears of a potential repeat of this scenario in 2024, should Trump lose again. Documentation returned to state election officials has revealed that over a dozen of these individuals are returning as potential electors this year.

    4. Criticism includes national security concerns and disinformation

    Some call the electorial college system undemocratic. Others point to the “faithless elector” issue, whereby the electors within a state cast their vote against the preference of their state’s popular vote.

    Small vote margins often secure all the votes in key swing states. For example, in 2016, Trump won Michigan by just 13,080 votes (0.3%), Wisconsin by 27,257 votes (1.0%), and Pennsylvania by 68,236 votes (1.2%). This allocated Trump 46 electoral votes as well as victory in the presidential election.

    This has led Brookings Institution fellows Elaine Kamarck and Darrell M. West to conclude that “false news purveyors don’t have to persuade 99% of American voters to be influential, but simply a tiny amount in [certain states] … A shift of 1% of the vote or less based on false narratives would have altered the outcome.”

    Harvard University professor of government Ryan Enos told me that foreign adversaries with an interest in the outcome of the US election are “aware of how decentralised the system is, and how chaos can be sowed by putting pressure on particular states”.

    5. Some people want to abolish it

    The process remains highly contentious and can result in a more fractious political climate. Consequently, there many who want to abolish it. West, a senior fellow of governance studies at Brookings, said the US should get rid of the electoral college. He called it a relic that was established “as an elite-based mechanism to basically choose the president because [America’s founding fathers] did not trust the general public”.

    However, Barnard College professor of political science Sheri Berman had a different view, saying that if you believe different states should have some guaranteed level of representation regardless of their population, then designing a system that gives this to them could be viewed as legitimate.

    Ultimately, despite its unusual elements, Christine Stenglein, a research analyst at Brookings, believes “the electoral college is part of the US constitution, and therefore not likely to change any time soon”.

    Richard Hargy 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. US election: how does the electoral college voting system work? – https://theconversation.com/us-election-how-does-the-electoral-college-voting-system-work-242283

    MIL OSI – Global Reports

  • MIL-OSI Global: Midas Man: Brian Epstein biopic captures the complexity that made the Beatles manager so brilliant

    Source: The Conversation – UK – By Glenn Fosbraey, Associate Dean of Humanities and Social Sciences, University of Winchester

    A few minutes after I took my seat at an advanced screening of Amazon Prime’s Brian Epstein biopic, Midas Man, I found myself engaged in Beatles chat with the chap next to me. I wasn’t surprised to find a fellow Fab Four fanatic at such an event. But I was surprised when I realised I was speaking with the legendary presenter Paul Gambaccini, a man who, I was soon to discover, met not only John, Paul, George and Ringo, but also original drummer Pete Best and bassist Stuart Sutcliffe’s sister. Or “five and a half Beatles”, as he put it.

    As the lights went down and we readied ourselves, Gambaccini whispered that he hoped this wasn’t going to be “another Beatles film with no Beatles music in it”. The subject of soundtracks in Beatles biopics has always been an elephant in the room among fans, and Midas Man, like Backbeat (1994), In His Life: The John Lennon Story (2000), Lennon Naked (2010) and many others before it, did indeed lack any Lennon and McCartney (or Harrison) originals.

    But, given that it cost the 2019 film Yesterday US$10 million (£7.7 million) to acquire the rights to use the Beatles’ music (40% of the entire budget), this shouldn’t really come as a surprise. And there aren’t any crafty ways round it, either. This much we know from the fate of 1979’s Birth of The Beatles which has been prevented from reissue due to its unauthorised use of songs.

    Midas Man tells the story of the legendary Beatles manager, Brian Epstein. The film follows Epstein, played by Jacob Fortune-Lloyd, from his days as the unfulfilled manager of a furniture and musical instrument shop to making good on his promise that his unknown and unsigned band, The Beatles, would one day be “bigger than Elvis”.

    Some reviews have taken issue at how the film shows Epstein one minute suavely cajoling American TV host Ed Sullivan, and the next falling to pieces after the death of his father. But such contradictions of character were exactly what made Epstein who he was – a man Beatles biographer Craig Brown has described as alternatively lonely, businesslike, scrupulous, obsessive, shrewd, awkward and pernickety.

    For me, it’s Epstein’s complexity that makes him so endearing, both in real life and in Midas Man. Fortune-Lloyd expertly and realistically portrays him as confident in his abilities, but also on the cusp of being consumed by self-doubt at any moment. He also carries off the magnetic charm that led Epstein on his scarcely believable journey from selling pianos in his family shop to one of the most powerful people in the entertainment industry within the space of a few years.

    The trailer for Midas Man.

    In what is ultimately a tragic story of a troubled life, it’s unsurprising that there are plenty of tearjerker moments. But screenwriters Brigit Grant and Jonathan Wakeham avoid the temptation to overdo the pathos, choosing subtlety over the sledgehammer.

    A combination of this and Fortune-Lloyd’s understated acting lead to several poignant moments in the film. Epstein yearns to be a part of the band’s world, but is kept on the sidelines due to his position of authority, (perceived) difference in class and, most importantly, his own social awkwardness.

    Being Brian

    The film’s sets are a highlight throughout, from 1960s Liverpool’s unique blend of vibrancy and poverty to the glitz and glamour of New York. The North End Music Store (NEMs) where Epstein worked and which became his management company, thrums with the energy and anticipation of the tectonic shift in culture that’s just around the corner. And I’ve scarcely experienced a more immersive recreation of The Beatles’s lunchtime performances at The Cavern.

    Alongside Fortune-Lloyd’s nuanced performance, there were several other standouts. Leo Harvey-Elledge provides much of the humour as George Harrison, Rosie Day has a whale of a time as an effervescent Cilla Black, and the consistently excellent Eddie Marsan and Emily Watson are perfectly cast (although somewhat underused) as Epstein’s parents.

    Good as the overall casting is, however, it’s hard to see Fortune-Lloyd’s Epstein as only six years senior to Jonah Lees’s John Lennon. As versatile as the former is, he looks significantly older than Epstein’s 27 years – the age he was when he first saw The Beatles perform at The Cavern in 1961.

    This may seem like a minor point, but it affects the dynamic between him and the band, which, combined with the significant height difference between Fortune Lloyd (6ft 2) and Lees (5ft 8) gives a sense of authority that was more representative of The Beatles’ producer, George Martin.

    The decision to create a fictionalised love interest in John “Tex” Ellington (Ed Speleers) is also odd. It serves only to suggest that Epstein’s life wasn’t interesting and dramatic enough without fabrication. Which is far from the truth.

    Invented characters aside, there’s nothing in Midas Man that die-hard Beatles fans didn’t already know about Epstein. But given that he and The Beatles are part of what’s been called “the greatest story ever told”, that’s not necessarily a bad thing.



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    Glenn Fosbraey 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. Midas Man: Brian Epstein biopic captures the complexity that made the Beatles manager so brilliant – https://theconversation.com/midas-man-brian-epstein-biopic-captures-the-complexity-that-made-the-beatles-manager-so-brilliant-242633

    MIL OSI – Global Reports

  • MIL-OSI Global: Social media and generative AI can have a large climate impact – here’s how to reduce yours

    Source: The Conversation – UK – By Domenico Vicinanza, Associate Professor of Intelligent Systems and Data Science, Anglia Ruskin University

    CREATIVE WONDER / shutterstock

    On a train or bus, or just standing in a queue, the most common sight these days is the muted glow of a screen, and the flickering thumbs of people lost in the endless scroll on their smartphones.

    Across the world, about 62% of people are active social media users. In some countries, that figure is over 90%. That adds up to a lot of usage: the average UK adult spends 3 hours and 41 minutes online each day, which translates to around 56 days a year, almost two whole months.

    Every time we read an article, see an advertisement, watch a photo or video, that content needs to be transferred from the social media platform’s servers to our device. The larger the file, the more data needs to be transferred. And high-resolution images or long videos involve lots of data.

    That data is distributed across many “server farms” (typically housed in a large warehouse with thousands of computers) around the world. If you load a video from Youtube you don’t connect to a single “Youtube data HQ” somewhere in California, but will instead gather data from many different servers often in different countries or continents.

    Moving data across the internet requires energy, sending signals through various electronic devices, including routers, servers, and our own mobile phone or laptop. Each of these devices consumes energy to function, while servers need to be kept cool. And this energy is often generated from fossil fuels.

    Low-energy LinkedIn tops the charts.
    Greenspector, CC BY-SA

    Tiktok is the least eco-friendly of the social media platforms, according to a study of internet users in France run by Greenspector in 2021 and then updated in 2023.

    Simply scrolling through the app exchanges a lot of data as Tiktok is constantly running videos, including many preloaded in the background that you may never even see.

    At the end side of the spectrum is LinkedIn. As a text-based platform, with fewer photos and videos, scrolling through LinkedIn uses much less data.

    Generative AI is energy-hungry

    Social media is of course not the only offender. Generative AI, with its ability to create text, images, music and even videos, is completely reshaping lots of creative processes. But though it is appealing, and sometimes a necessity, it comes with an environmental price tag.

    Unsurprisingly, the more powerful the AI, the more energy it consumes. Unlike when you stream video or load a large web page, with generative AI most energy is used at their end, while processing your query. If you ask ChatGPT to write you a novel, the process of writing involves lots of calculations, even if the resulting text itself doesn’t use much data.

    Your request is being processed…
    Caureem / shutterstock

    All this of course raises critical questions about the sustainability of generative AI and about our own carbon footprints. The AI companies themselves are reluctant to tell us exactly how much energy they use, but they apparently can’t stop their own chatbots having a stab. I asked ChatGPT-4 “how much energy was used to process this query?” and it said “0.002 to 0.02 kWh”, which it said “would be similar to keeping a 60-watt bulb on for about 2 minutes”.

    This roughly matches numbers offered by independent analysis and is tens of times more energy than required for a Google search. With millions of queries per day to ChatGPT alone, it all adds up to a huge amount of additional energy use. As generative AI continues to evolve, the demand for energy will only increase.

    What you can do

    While the environmental impact of these technologies raises valid concerns, it’s also essential to recognise their benefits. To take one example, AI-assisted tools like text-to-speech, voice recognition and auto-captioning have already made society more inclusive particularly for disabled or neurodiverse people. I don’t want to suggest we scrap social media or reject generative AI entirely.

    But there are things we can do to reduce the carbon footprint of our internet use, involving a combination of individual actions and systemic changes. Here are some strategies we can all adopt:

    First, limit the screen time. This is the most obvious one. Reducing the amount of time spent on social media can directly decrease energy consumption.

    Second, use energy-saving settings on your devices, such as lowering screen brightness, using a dark background, and enabling power-saving modes.

    Third, consider choosing less energy-demanding social media, using environmental ranking information to inform the decision. That means more text, and less video and generative AI.

    Fourth, whenever possible, use wifi over 4G or 5G mobile data: wifi generally consumes less energy.

    So, next time we find ourselves scrolling endless sequences of pictures and videos, our face lit by the blue glow of our screens, let’s just stop for a second and start implementing those simple strategies, so we can enjoy the benefits of being connected, while minimising the impact on our planet resources. Ultimately, the choice is ours.

    Domenico Vicinanza 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. Social media and generative AI can have a large climate impact – here’s how to reduce yours – https://theconversation.com/social-media-and-generative-ai-can-have-a-large-climate-impact-heres-how-to-reduce-yours-240661

    MIL OSI – Global Reports

  • MIL-OSI Global: New survey finds an alarming tolerance for attacks on the press in the US – particularly among white, Republican men

    Source: The Conversation – UK – By Julie Posetti, Global Director of Research, International Center for Journalists (ICFJ) and Professor of Journalism, City St George’s, University of London

    Press freedom is a pillar of American democracy. But political attacks on US-based journalists and news organisations pose an unprecedented threat to their safety and the integrity of information.

    Less than 48 hours before election day, Donald Trump told a rally of his supporters that he wouldn’t mind if someone shot the journalists in front of him.

    “I have this piece of glass here, but all we have really over here is the fake news. And to get me, somebody would have to shoot through the fake news. And I don’t mind that so much,” he said.

    A new survey from the International Center for Journalists (ICFJ) highlights a disturbing tolerance for political bullying of the press in the land of the First Amendment. The findings show that this is especially true among white, male, Republican voters.

    We commissioned this nationally representative survey of 1,020 US adults, which was fielded between June 24 and July 5 2024, to assess Americans’ attitudes to the press ahead of the election. We are publishing the results here for the first time.

    More than one-quarter (27%) of the Americans we polled said they had often seen or heard a journalist being threatened, harassed or abused online. And more than one-third (34%) said they thought it was appropriate for senior politicians and government officials to criticise journalists and news organisations.

    Tolerance for attacks on the press appears as politically polarised as American society. Nearly half (47%) of the Republicans surveyed approved of senior politicians critiquing the press, compared to less than one-quarter (22%) of Democrats.

    Our analysis also revealed divisions according to gender and ethnicity. While 37% of white-identifying respondents thought it was appropriate for political leaders to target journalists and news organisations, only 27% of people of colour did. There was also a nine-point difference along gender lines, with 39% of men approving of this conduct, compared to 30% of women.

    It appears intolerance towards the press has a face – a predominantly white, male and Republican-voting face.

    Press freedom fears

    This election campaign, Trump has repeated his blatantly false claim that journalists are “enemies of the people”. He has suggested that reporters who cross him should be jailed, and signalled that he would like to revoke broadcast licences of networks.

    Relevant, too, is the enabling environment for viral attacks on journalists created by unregulated social media companies which represent a clear threat to press freedom and the safety of journalists. Previous research produced by ICFJ for Unesco concluded that there was a causal relationship between online violence towards women journalists and physical attacks.


    Want more politics coverage from academic experts? Every week, we bring you informed analysis of developments in government and fact check the claims being made.

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    While political actors may be the perpetrators of abuse targeting journalists, social media companies have facilitated their viral spread, heightening the risk to journalists.

    We’ve seen a potent example of this in the current campaign, when Haitian Times editor Macollvie J. Neel was “swatted” – meaning police were dispatched to her home after a fraudulent report of a murder at the address – during an episode of severely racist online violence.

    The trigger? Her reporting on Trump and JD Vance amplifying false claims that Haitian immigrants were eating their neighbours’ pets.

    Trajectory of Trump attacks

    Since the 2016 election, Trump has repeatedly discredited independent reporting on his campaign. He has weaponised the term “fake news” and accused the media of “rigging” elections.

    “The election is being rigged by corrupt media pushing completely false allegations and outright lies in an effort to elect [Hillary Clinton] president,” he said in 2016. With hindsight, such accusations foreshadowed his false claims of election fraud in 2020, and similar preemptive claims in 2024.

    His increasingly virulent attacks on journalists and news organisations are amplified by his supporters online and far-right media. Trump has effectively licensed attacks on American journalists through anti-press rhetoric and undermined respect for press freedom.

    In 2019, the Committee to Protect Journalists found that more than 11% of 5,400 tweets posted by Trump between the date of his 2016 candidacy and January 2019 “…insulted or criticised journalists and outlets, or condemned and denigrated the news media as a whole”.

    After being temporarily deplatformed from Twitter for breaching community standards, Trump launched Truth Social, where he continues to abuse his critics uninterrupted. But he recently rejoined the platform (now X), and held a series of campaign events with X owner and Trump backer Elon Musk.

    The failed insurrection on January 6 2021 rammed home the scale of the escalating threats facing American journalists. During the riots at the Capitol, at least 18 journalists were assaulted and reporting equipment valued at tens of thousands of dollars was destroyed.

    This election cycle, Reporters Without Borders logged 108 instances of Trump insulting, attacking or threatening the news media in public speeches or offline remarks over an eight-week period ending on October 24.

    Meanwhile, the Freedom of the Press Foundation has recorded 75 assaults on journalists since January 1 this year. That’s a 70% increase on the number of assaults captured by their press freedom tracker in 2023.

    A recent survey of hundreds of journalists undertaking safety training provided by the International Women’s Media Foundation found that 36% of respondents reported being threatened with or experiencing physical violence. One-third reported exposure to digital violence, and 28% reported legal threats or action against them.

    US journalists involved in ongoing ICFJ research have told us that they have felt particularly at risk covering Trump rallies and reporting on the election from communities hostile towards the press. Some are wearing protective flak jackets to cover domestic politics. Others have removed labels identifying their outlets from their reporting equipment to reduce the risk of being physically attacked.

    And yet, our survey reveals a distinct lack of public concern about the First Amendment implications of political leaders threatening, harassing, or abusing journalists. Nearly one-quarter (23%) of Americans surveyed did not regard political attacks on journalists or news organisations as a threat to press freedom. Among them, 38% identified as Republicans compared to just 9%* as Democrats.

    The anti-press playbook

    Trump’s anti-press playbook appeals to a global audience of authoritarians. Other political strongmen, from Brazil to Hungary and the Philippines, have adopted similar tactics of deploying disinformation to smear and threaten journalists and news outlets.

    Such an approach imperils journalists while undercutting trust in facts and critical independent journalism.

    History shows that fascism thrives when journalists can not safely and freely do the work of holding governments and political leaders to account. As our research findings show, the consequences are a society accepting lies and fiction as facts while turning a blind eye to attacks on the press.

    *The people identifying as Democrats in this sub-group are too few to make this a reliable representative estimate.


    Note: Nabeelah Shabbir (ICFJ Deputy Director of Research) and Kaylee Williams (ICFJ Research Associate) also contributed to this article and the research underpinning it. The survey was conducted by Langer Research Associates in English and Spanish. ICFJ researchers co-developed the survey and conducted the analysis.

    Julie Posetti receives research funding via ICFJ from the Scripps Howard Fund, Luminate, the UK’s Foreign Commonwealth and Development Office, the Gates Foundation and the US State Department.

    Waqas Ejaz works as Post-doc Research Fellow at University of Oxford as well as a Senior Research Associate at ICFJ.

    ref. New survey finds an alarming tolerance for attacks on the press in the US – particularly among white, Republican men – https://theconversation.com/new-survey-finds-an-alarming-tolerance-for-attacks-on-the-press-in-the-us-particularly-among-white-republican-men-242719

    MIL OSI – Global Reports

  • MIL-OSI Global: US election: what time do the polls close and when will the results be known? An expert explains

    Source: The Conversation – UK – By Richard Hargy, Visiting Research Fellow in International Studies, Queen’s University Belfast

    paseven / Shutterstock

    In November 2020, when Americans last went to the polls to elect a president, it took four days after voting closed for Joe Biden to be declared the winner.

    This was largely due to razor-thin margins in the crucial battleground states, which resulted in some recounts, as well as large numbers of mail-in ballots that had to be counted after election day. There was the added challenge of this entire process being conducted amid a global pandemic.

    Since then, some states have changed their election laws to speed up the election count. But while it may not take as long this time round, one thing we can be sure of is that a winner will not be known on election night itself.

    When do polls open and close?

    There is no set national time for voting to begin on the morning of November 5. Most states will begin voting at 7am in their local time, with others starting as early as 5am or as late as 10am. Voting will commence at a variety of times in some states, such as New Hampshire, Tennessee and Washington where this is decided by different counties or municipalities.

    Polls close at a range of times across the country, too. Voting will end as early as 6pm US eastern time (11pm GMT) in Indiana and Kentucky, while polls in Hawaii and Alaska, the western-most states, do not close until midnight US eastern time (5am GMT).

    An early indicator of which candidate is performing better will come between 7pm and 8pm eastern time (midnight and 1am GMT), when polls close in the key battleground states of Georgia and North Carolina. Both states are competitive for Kamala Harris and Donald Trump, and if the former is declared the victor in either, then the contest will pivot in her favour.

    The next key moment could occur between 8pm and 9pm eastern time (1am and 2am GMT), when voting ends across the so-called blue wall states of Michigan, Pennsylvania and Wisconsin. However, it is unlikely that a winner will be declared in any of these states straightaway. By 10pm eastern time (3am GMT), polls will have closed in two other critical swing states, Arizona and Nevada.

    When will votes be counted?

    There are several factors that could hinder results being announced in the hours immediately after voting ends. In Arizona, for example, state laws allow voters to drop their completed ballot papers off at the polling station on election day or the day prior – something that not all states do. However, these “late early” ballots cannot be processed until after voting ends.

    Pennsylvania is arguably the most prized swing state that both the Democratic and Republican campaigns are vying for. The state has 19 electoral votes, the most of any battleground state, so the victor will probably win the electoral college (the group of officials that elects the president based on the vote in each state) and thus also the presidency.




    Read more:
    US election: how does the electoral college voting system work?


    But Pennsylvania does not allow election workers to process mail ballots until 7am local time on election day, which could mean the result takes longer than 24 hours after polls close to be made known.

    That said, Alauna Safarpour, an assistant professor at Pennsylvania’s Gettysburg College, does not think the wait will be as long as it was four years ago. Writing for The Conversation on October 29, she said that it was “highly likely” that fewer Pennsylvanians will choose to vote by mail this time around.

    “A smaller proportion of voters opted to vote by mail in the 2022 midterm election than in the 2020 general election, and that trend is likely to continue in 2024”, she says.




    Read more:
    Why Pennsylvania’s election results will take time to count


    Two more crucial states, Michigan and Nevada, have also made changes to the election count since 2020. These states now permit ballot papers to be processed in advance of polling day. On the other hand, the ability of North Carolina to process votes ahead of the election has been made more difficult due to the damage recently caused by Hurricane Helene. This may lead to further delays.

    In Wisconsin, vote counting in two of the state’s biggest counties – Milwaukee and Dane – can also be particularly slow. Milwaukee and Dane counties are both significant urban centres with a combined population of around 1.5 million people. The margin in these counties will be significant to the result in Wisconsin and the presidential race overall.

    What might delay the results?

    There are concerns that certain domestic players could seek to frustrate and delay election results in the critical swing states. In January 2020, for example, a large number of Republicans in Congress objected to results in Pennsylvania and Arizona – states that were both won by Biden.

    And in seven swing states, people falsely claiming to be members of the electoral college attempted to declare Trump as the winner of their state. Their votes were sent to Congress to be counted alongside those of the true electors, with some Congress members arguing that the new slate of electoral votes cast doubts over the official result in certain states. In 2023, a Trump campaign lawyer, Kenneth Chesebro, pleaded guilty in Georgia to his role in subverting the election.

    Norman Eisen, Samara Angel and Clare Boone, who are all fellows at the Brookings Institution thinktank, have provided detailed analysis on how this scenario could be repeated in 2024. They point to nefarious strategies that could be utilised to confuse results by refusing to certify elections at the “county level”.

    For example, three election deniers – Rick Jeffares, Janice Johnston and Janelle King – hold the balance of power in Georgia’s state election board. They have jointly devised new rules that allow vote certification to be paused while investigations are launched into alleged “irregularities”.

    Eisen, Angel and Boone assert that while “these attempts will likely meet the same fate as prior efforts, they could still stoke uncertainty and distrust.” So, given the existence of these threats and the fact that polls show a dead heat, we will probably not know the election’s winner for at least a few days.

    Richard Hargy 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. US election: what time do the polls close and when will the results be known? An expert explains – https://theconversation.com/us-election-what-time-do-the-polls-close-and-when-will-the-results-be-known-an-expert-explains-242635

    MIL OSI – Global Reports

  • MIL-OSI Global: The budget is good news overall for young professionals – here’s how the changes will affect you

    Source: The Conversation – UK – By Andy Lymer, Professor of Taxation and Personal Finance, Aston University

    fizkes/Shutterstock

    Chancellor Rachel Reeves’s first budget was full of a dizzying array of measures to raise over £40 billion to fund public services and boost investment.

    The headlines suggest most of the extra taxes to be paid will fall on businesses, not directly on “working people”. If you are recently out of university or early in your career, here are a few measures most likely to affect your life.

    Inheritance tax

    This 40% tax is paid by the estates of those who pass away, before the remaining amount is distributed based on their wishes. It is really more of an estate tax, than a tax on what you inherit personally.

    Little was changed to the tax itself in this budget – you can still receive £325,000 tax-free from each parent, or from your spouse or civil partner. If the estate includes a family home, they can pass this tax free between them and then to their descendants up to a value of £1 million (both get £500,000 each). Estate values beyond this are taxed at 40%.

    The £325,000 threshold hasn’t changed since April 2009, so as house and asset prices rise it means more of an estate’s value over these levels will be subject to tax each year. If this threshold level had kept pace with changes in general prices, the basic inheritance tax threshold should now be more than £500,000.

    The chancellor has decided to extend the fixing of this threshold for another two years – now to at least 2030.

    Does this matter? Very much so, as budget forecasts suggest that while only 5% of current estates are subject to any tax, by 2029-30 this will double, so many more of us will get taxed on inheritances than ever before. This is because as prices keep rising, more and more inheritances will go over the threshold level and be subject to this tax.

    However, this still implies 90% of all estates will be passed on tax-free so most will never end up bearing this tax.


    No one’s 20s and 30s look the same. You might be saving for a mortgage or just struggling to pay rent. You could be swiping dating apps, or trying to understand childcare. No matter your current challenges, our Quarter Life series has articles to share in the group chat, or just to remind you that you’re not alone.

    Read more from Quarter Life:


    One change that Reeves did announce was that inherited pension pots will now all be taxable. Currently, if you inherit unused parts of a pension pot and the owner died aged less than 75, it was passed on tax-free. This won’t happen in the future, and it will instead form part of the estate and be subject to the tax rules above. This means estate sizes could be larger and more will therefore end up getting taxed.

    Reeves also announced the end of the exemption that allows owners of agricultural land and farms, and owners of businesses to avoid inheritance tax. Instead, from April 2026 a £1 million exemption cap will be applied and any assets passed on above this will be taxed at 20% (half the rate applied to other inheritances).

    Housing and stamp duty

    Reeves also announced a rise in stamp duty (the tax paid when you buy a house or flat over a certain value) for those purchasing second homes. While you and your peers are more likely to be trying to buy a first home, the government argues that this increase will give first-time buyers a competitive advantage in the housing market.

    However, there is risk that these extra costs could be passed on, for example to renters of a landlord’s second property in the form of higher rent.

    The government also did not extend the higher thresholds for stamp duty that were announced by the previous Conservative government in the October 2022 mini-budget. So from April next year, first-time buyers will once again have to pay stamp duty on any properties over £300,000, rather than £425,000.

    National insurance

    Employer national insurance contributions (NICs) are also set to rise in April 2025 to 15% (from 13.8%). This doesn’t directly affect employees, as their NIC rate will stay at 8%. However, this may mean there will be less money to pay wage increases or hire new staff.

    The Office for Budget Responsibility expects about 60% of this extra employer NIC cost on average to fall on wages, and about 15% to be passed on to customers in higher prices – so only 25% will affect business profits.

    However, this impact will vary. Smaller businesses and businesses in low margin industries such as low-end retailing or grocery stores, may find this harder to pass on to their employees or customers.

    They will have to absorb more of this cost as reduced profits, which in turn would lead to less money for wage increases or hiring. In effect, it will be cheaper to have more self-employed people (employer NICs are not paid on the self-employed, who have to sort this out themselves).

    Stamp duty has risen – but only on second homes.
    fizkes/Shutterstock

    Minimum wage rising

    Another key change that is likely to disproportionately affect younger workers – national minimum wage is to rise. For those over 21, this will be by 6.7% to £12.21 per hour from April 2025. For a full-time employee, that is an extra £1,400 a year (before tax).

    Those aged 18-20 will be getting an even larger rise to £10 per hour (a 16.3% increase on the current £8.60/hour).

    This is good news for employees, but some fear it could lead to fewer jobs. However, it is a buyer’s market for some lower paid roles, as some industries are struggling to fill vacancies. This may not be a worry for all jobs. Employers will have to pay the minimum wage to get staff they need.

    As always, we will have to wait and see what changes this really creates as people react to the full range of announcements. But the overall government distribution predictions is that all but the very richest will be better off from this budget.

    Very few young professionals fall into this category, so you can almost certainly expect to gain overall from this budget, even if not personally from every change.

    Andy Lymer receives funding from a variety of sources for his work and that of the Centre for Personal Financial Wellbeing that he directs. Most recently this has included the UK’s Money and Pension Service, the Aviva Foundation, and Fair4All Finance.

    ref. The budget is good news overall for young professionals – here’s how the changes will affect you – https://theconversation.com/the-budget-is-good-news-overall-for-young-professionals-heres-how-the-changes-will-affect-you-242643

    MIL OSI – Global Reports