Category: Business

  • MIL-OSI USA: June 11th, 2025 Heinrich: ‘Republicans are going to own increased energy prices’

    US Senate News:

    Source: United States Senator for New Mexico Martin Heinrich

    Democrats are going to make increasing energy prices an issue for Republicans in the next election cycles, Senate Energy and Natural Resources Committee ranking member Martin Heinrich said Tuesday.

    President Donald Trump promised to bring down energy prices during his campaign, but congressional Republicans are threatening to cut incentives for renewable energy and battery projects. The lack of new electricity generation projects plus rising demand from AI data centers and greater volumes of natural gas for export threaten to increase electricity bills for U.S. consumers, the New Mexico Democrat said during the POLITICO Energy Summit.

    “We’re in a constrained supply environment and an increased demand environment,” Heinrich said. “People’s electricity bills all over the country are going to go up. What I can guarantee you is in the next election and the election after that Republicans are going to own increased energy prices.”

    Natural gas prices could rise 25 percent next year as LNG exports rise faster than drillers can produce the resource, Bank of America analysts wrote. And tech companies are building data centers that consume huge amounts of electricity.

    Republicans are trying to rescind government support for new solar and wind power projects in their reconciliation bill. Meanwhile, power plants fed by nuclear energy and natural gas can take years to build.

    “If you’re not building renewables and storage over the next five years, you’re only artificially increasing the cost of electricity everywhere,” Heinrich said. “I don’t think consumers are going to stand for that. There’s going to be an enormous political price to pay for that. People will see it and feel it in their electricity bills.”

    MIL OSI USA News

  • MIL-OSI New Zealand: Businessman Aaron Coupe sentenced to a further 3 years

    Source: Ministry of Business Innovation and Employment (MBIE)

    Businessman Aaron Coupe:

    • was sentenced to 3 years and 9 months for managing companies while prohibited under the Companies Act and concealing property worth more than $1.7 million from the Official Assignee.
    • during his second bankruptcy, breached restrictions and took part in the management of businesses through actively managing several construction projects.

    Jailed businessman Aaron Coupe was further sentenced at Auckland District Court on Friday 6 June 2025 to 3 years and 9 months for taking part in the management of businesses while bankrupt and concealing property worth more than $1.7 million from the Official Assignee.

    Mr Coupe was jailed for 4 years and 5 months in January 2025 for managing companies while prohibited under the Companies Act and the latest sentencing will see him serve up to 8 years and 2 months in total.

    During his second bankruptcy in 2022, Mr Coupe breached the restrictions imposed on him by taking part in the management of businesses through actively managing construction projects in Tuakau, Wiri and Auckland.

    Under the alias ‘Aaron McGregor’, his birth name, Mr Coupe overtly sought out projects to manage and directed payments for these projects into an account under his mother’s name. Mr Coupe did not disclose an interest in this account to the Official Assignee.

    In court, Judge Kathryn Maxwell said Mr Coupe’s “arrogance is incomprehensible”.

    “We’re also dealing with a maximum penalty that is arguably inadequate,” Judge Maxwell said.

    “You have barely taken a breath since you started offending in 2013.”

    This is the most recent prosecution taken against Mr Coupe by the Ministry of Business, Innovation and Employment (MBIE), following original charges that were laid in 2014 for offending that arose from his conduct during his first bankruptcy in 2010.

    He was sentenced in 2016 to 12 months’ home detention, 200 hours’ community work, and $75,100.68 reparation. The convictions also meant he was banned from being a director of or involved in the management of a company for 5 years.

    Despite his prohibition, and without seeking an exemption to the imposed prohibition from the Court, Mr Coupe took part in the management of 5 companies causing substantial financial losses and significant emotional distress to his business partners, stakeholders, and creditors.

    Business Registries Investigations and Compliance Team Manager Vanessa Cook says it was important that Mr Coupe was held to account for his ongoing offending.

    “The sentence reflects the harm that Mr Coupe caused through his failure to comply with conditions imposed on him, not only by being adjudicated bankrupt, but also by the Court,” Ms Cook says.

    “By intentionally evading the measures that were put in place to protect the public, Mr Coupe was able to deceive people into engaging in business with him, enabling him to conceal $1.7 million that could have been paid to his creditors.

    “It’s important that responsibility is accepted by those whose behaviour causes significant harm to the community and MBIE would like to thank all the witnesses who came forward to assist in ensuring that Mr Coupe’s unscrupulous behaviour was stopped.”

    Prohibited directors can be found by searching on the Companies register:
    Searching the Companies Register(external link) – New Zealand Companies Office

    Individuals who are currently adjudicated bankrupt can found by searching on the insolvency register:
    Search the insolvency register(external link) – New Zealand Insolvency and Trustee

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Backing New Zealand’s native forest champions

    Source: New Zealand Government

    Forestry Minister Todd McClay today congratulated the winners of the inaugural Growing Native Forests Champions Awards for driving real progress in native forest establishment and land use innovation.

    “This is what good land management looks like — native forests that support both the environment and the rural economy,” Mr McClay says.

    “This is practical, long-term investment in our land that delivers environmental and economic benefits while supporting farm profitability.”

    With 59 entries this year, the awards show what’s possible when innovation meets local knowledge — from farmers and lifestyle block owners to iwi and forestry companies.

    “Native forests and farming go hand in hand. We can farm the best land and plant natives on the most vulnerable, stabilising hillsides and safeguarding waterways.

    “These winners prove native planting can work alongside other productive land uses to deliver real results.”

    Award Winners:

    • Lifestyle Block Owner: Paul and Katherina Quinlan, Northland — pioneers of sustainable tōtara timber management.
    • Mana Whenua: Kapenga M Trust, Bay of Plenty — blending mātauranga Māori and science to grow native forests and create jobs.
    • Trees on Farms: Ian Brennan, Waikato — integrating natives for ecosystem health and income through continuous cover forestry.
    • Forestry Company: Tasman Pine Forests, Nelson/Tasman — restoring native forests, controlling wilding pines, and protecting native species.
    • Catchment/Community: Wai Kōkopu, Bay of Plenty — retiring erodible land and improving estuary health while supporting profitable farming.

    Each winner received a handcrafted trophy made from native timbers — a symbol of their commitment to New Zealand’s land and future.

    MIL OSI New Zealand News

  • MIL-OSI USA: SBA Opens Business Recovery Center in the Independent City of St. Louis to Help Businesses Impacted by May Storms

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced today the opening of an SBA Business Recovery Center (BRC) in the Independent City of St. Louis to assist small businesses, private nonprofit (PNP) organizations and residents affected by severe storms, straight-line winds, tornadoes and flooding occurring May 16.

    Beginning Thursday, June 12, SBA customer service representatives will be on hand at the Business Recovery Center in St. Louis to answer questions and assist with the disaster loan application process. No appointment is necessary, walk-ins are welcome. Those who prefer to schedule an in-person appointment in advance can do so at appointment.sba.gov.

    The center’s hours of operation are as follows:

    THE INDEPENDENT CITY OF ST. LOUIS
    Business Recovery Center
    St. Louis Community College
    Harrison Education Center
    3140 Cass Ave., Rm. #104
    St. Louis, MO  63106

    Opens at 1:00 p.m., Thursday, June 12

    Mondays – Fridays, 8:30 a.m. – 6:00 p.m.

    The following Disaster Loan Outreach Center (DLOC) location is also open and continues to serve survivors:

    ST. LOUIS COUNTY
    Disaster Loan Outreach Center
    St. Louis County Library
    Florissant Valley Branch 
    Quiet Room
    195 S. New Florissant Rd.
    Florissant, MO   63031

    Mondays – Thursdays, 9:00 a.m. – 6:00 p.m.
    Fridays – Saturdays, 9:00 a.m. – 5:00 p.m.

    “SBA’s Business Recovery Centers have consistently proven their value to business owners following a disaster,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “Business owners can visit these centers to meet face‑to‑face with specialists who will guide them through the disaster loan application process and connect them with resources to support their recovery.”

    Businesses and nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

    The SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and private nonprofit organizations impacted by financial losses directly related to these disasters. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

    EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.

    SBA representatives will also provide help to business owners and residents at disaster recovery centers when they are opened in the impacted area.

    Interest rates are as low as 4% for small businesses, 3.62 for nonprofits, and 2.81% for homeowners and renters with terms up to 30 years. Interest does not begin to accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA determines eligibility and sets loan amounts and terms based on each applicant’s financial condition.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    The filing deadline to return applications for physical property damage is Aug. 11, 2025. The deadline to return economic injury applications is March 9, 2026.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News

  • MIL-OSI USA: SBA Relief Available to Missouri Small Businesses, Private Nonprofits and Residents Affected by May Storms

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – In response to a Presidential disaster declaration issued June 9, the U.S. Small Business Administration (SBA)announced the availability of low interest federal disaster loans to Missouri small businesses, private nonprofit (PNP) organizations and residents affected by severe storms, straight-line winds, tornadoes and flooding occurring May 16.

    The disaster declaration covers the Missouri counties of Scott, St. Louis, and the Independent City of St. Louis.

    Businesses and nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

    Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.

    Applicants may be eligible for a loan increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include insulating pipes, walls and attics, weather stripping doors and windows, and installing storm windows to help protect property and occupants from future disasters.

    SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, nurseries and PNPs impacted by financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.

    EIDLs are for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. They may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    “One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “I encourage businesses and homeowners to work with contractors and mitigation professionals to improve their storm readiness while taking advantage of SBA’s mitigation loans.”

    Interest rates can be as low as 4% for small businesses, 3.62% for PNPs and 2.81% for homeowners and renters with terms up to 30 years. Interest does not begin to accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    As soon as Federal-State Disaster Recovery Centers open throughout the affected area, SBA will provide one-on-one assistance to disaster loan applicants. Additional information and details on the location of disaster recovery centers is available by calling the SBA Customer Service Center at (800) 659-2955.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News

  • MIL-OSI USA: Medtronic Announces Voluntary Recall of Select Newport™ HT70 and Newport™ HT70 Plus Ventilators and Certain Related Newport™ Service Parts

    Source: US Department of Health and Human Services – 3

    Summary

    Company Announcement Date:
    June 11, 2025
    FDA Publish Date:
    June 11, 2025
    Product Type:
    Medical Devices
    Reason for Announcement:

    Recall Reason Description
    Device & Drug Safety – Potential Defect

    Company Name:
    Medtronic
    Brand Name:

    Brand Name(s)
    Newport™

    Product Description:

    Product Description
    Newport™ HT70 and HT70 Plus ventilators and certain related service parts

    Company Announcement
    Customers are being asked to remove the affected devices from use and replace with an alternate means of ventilation
    June 11, 2025 — In May 2025, Medtronic issued a voluntary recall notification to global customers related to specific Newport™ HT70 and HT70 Plus ventilators and certain related Newport™ service parts. The FDA recently designated this voluntary action by Medtronic as a Class I recall.
    With this recall, Medtronic is advising discontinuation of clinical use of the affected devices. Investigation into customer complaints identified two separate capacitors on one of the ventilator’s controller Printed Circuit Board Assembly (PCBA), that, in case of failure, may result in:

    The ventilator shutting down during use, or
    The shutdown alert alarm failing to sound effectively.

    The following table identifies the item name, manufacture date and use by date:
    No instances of both capacitors failing on the same PCBA board have occurred, nor are they anticipated to occur.
    If a ventilator fails and does not provide adequate ventilation, the patient may not be able to breathe on their own, leading to low oxygen levels, high carbon dioxide levels, and potentially severe consequences like brain injury or death. There have been 63 medical device reports (MDRs) associated with this issue, including two serious injuries and one death. HT70 and HT70 Plus ventilators are intended for use by home users, as well as for infant and pediatric patients who may be at higher risks of injury or death due to unanticipated ventilator failures.
    Customer recommendations
    Customers should remove the affected devices from use and replace with an alternate means of ventilation. Medtronic is not correcting these issues on affected ventilators or service parts and will no longer service affected ventilators identified in this notification. Customers with questions should contact Medtronic Customer Service at 800-962-9888. Adverse events or product quality concerns with this product should be reported to the FDA and Medtronic:

    Refer to the customer notification and the patient letter for additional information.
    The Newport™ HT70 family of ventilators is intended to provide continuous or intermittent positive pressure mechanical ventilatory support for individuals who require mechanical ventilation through invasive or noninvasive interfaces. Specifically, the Newport™ HT70 family of ventilators is applicable for infant, pediatric, and adult patients greater than or equal to 5 kg (11 lbs) in hospital, sub-acute, emergency department, and home care environments as well as for transport and emergency response applications. The Newport™ HT70 operator’s manual can be found here.
    Medtronic will continue working directly with the U.S. Food and Drug Administration (FDA) and other regulatory bodies around the world on this voluntary recall. In February 2024, Medtronic announced its decision to exit its ventilator product lines, including the Newport™ ventilators. The company continues to serve the needs of its customers and their patients worldwide, and honor existing ventilator contracts, as they wind down the business over the coming years.
    Contacts:Helga RadioPublic Relations+1 (612) 270-4999
    Ryan WeispfenningInvestor Relations+1 (763) 505-4626
    Identifying Affected Product  (see image below)

    Company Contact Information

    Consumers:
    Medtronic Customer Service
    800-962-9888

    Media:
    Helga Radio Public Relations
    +1 (612) 270-4999

    Product Photos

    Content current as of:
    06/11/2025

    Regulated Product(s)

    Follow FDA

    MIL OSI USA News

  • MIL-OSI USA: Klobuchar Raises Concerns on Genetic Data Privacy at Senate Judiciary Hearing On 23andMe

    US Senate News:

    Source: United States Senator for Minnesota Amy Klobuchar
    WATCH KLOBUCHAR’S FULL QUESTIONS HERE
    WASHINGTON – U.S. Senator Amy Klobuchar (D-MN), Ranking Member of the Senate Judiciary Subcommittee on Privacy, Technology, and the Law, raised concerns about what will happen to the genetic data collected by 23andMe following the company’s bankruptcy during a hearing titled “23 and You: The Privacy and National Security Implications of the 23andMe Bankruptcy.” 
     “It is my belief that the privacy policies [of 23andMe] aren’t meeting the privacy needs of consumers during bankruptcy. That’s why I’ve worked with Senator Cornyn. I appreciate his leadership, and Grassley to give consumers control over their genetic data with our bill, Don’t Sell My DNA Act,” said Klobuchar.
    Testifying at the hearing was Joe Selsavage, Interim CEO at 23andMe; I. Glenn Cohen, Professor of Law, Harvard Law School; Brook Gotberg, Professor of Law, BYU Law; Adam Klein, Director, Strauss Center for International Security and Law.  
    A rough transcript of Klobuchar’s questions is available below. Video is available HERE.
    Klobuchar: Thank you. I think I’ll start by following up with Senator Blackburn’s good questions. And by the way, thank you, Mr. Klein, for mentioning the need for a general privacy bill, which we badly need.
    So, on this deletion issue, it’s my understanding that 1.3 million consumers asked 23andMe to delete their genetic data. Many faced technical issues. So, how long is the backlog right now, and what are you doing to make sure all the requests are fulfilled?
    Joseph Selsavage: Senator, the good news is that today, there is no backlog, that we are current on all of the deletion requests. What did occur, you know, is when we filed for bankruptcy. And you know, many state attorneys general requested, or suggested, to consumers that they delete their data at 23andMe. We did receive a significant amount of deletion requests. We quickly added additional staff, and you know, basically were able to reduce that backlog. 
    Klobuchar: Will you commit to ensuring that consumers will retain their right to have their genetic data deleted after the bankruptcy sale is completed, by making deletion rights a condition of the sale?
    Selsavage: Both of the bidders, and you know, the bankruptcy sale of 23andMe, both Regeneron and TTAM Research Institute, have agreed to adopt the policies of 23andMe, the privacy policy.
    Klobuchar: So the answer is yes?
    Selsavage: So, you know the answer is yes. 
    Klobuchar: Okay, during the bankruptcy process, how has 23andMe insured consumers could decide how information is used and for what purposes? That’s what your, that’s what your website has promised consumers.
    Selsavage: Our consumers consent, not only to a terms of service, a privacy policy, there are also separate consents for our customers to, if they so choose, to engage in research at 23andMe. And yet, and then a separate consent to allow us to engage with research with third parties. And you know, we make sure that customers have the right to actually opt in. We don’t default those. Customers are actually clicking ‘yes’ to indicate that they want to conduct or enable their data to be used for research purposes. Many customers understand these are important for understanding disease and genetic conditions, and life-saving medical treatments. 
    Klobuchar: Thank you. Professor Cohen, it’s my belief that the privacy policies aren’t meeting the privacy needs of consumers during bankruptcy. That’s why I’ve worked with Senator Cornyn. I appreciate his leadership, and Grassley to give consumers control over their genetic data with our bill, Don’t Sell My DNA Act. Why is it so important that we require consent from the consumer before their genetic data is sold to another company with which they have no prior relationship? 
    Professor I. Glenn Cohen: People are engaged in a trust relationship. You know, if my father gave me access to his medical records and said, “Son, I want you to look at this and be careful with this.” And I went ahead and said, “Let me give it to somebody else” without asking my dad, you’d look askance at what I was doing. The same thing is happening here. They’re essentially transferring data and transferring a trust relationship to a new entity, and people have the right to know who they’re dealing with and a right to consent to it.
    Klobuchar: Do you believe that the right to control one’s personal genetic information should take precedence over maximizing returns for creditors in a bankruptcy proceeding? 
    Cohen: Well, I think that it would be nice for the creditors to get paid. Senator, in this instance, I think this information is so sensitive and so important, it’s really important to protect people’s information. 
    Klobuchar: Okay, thank you. And Professor Gotberg, do you believe that the current Consumer Privacy Ombudsman system in bankruptcy proceedings is sufficient to protect consumers’ most sensitive information?
    Professor Brook Gotberg: So, the Consumer Privacy Ombudsman is appointed to help the court in weighing the costs and the benefits of any particular sale of assets. If you permit personal consumer data to be sold outside of bankruptcy, it’s permissible inside of bankruptcy as well. And so the Consumer Privacy Ombudsman is just trying to weigh what would be the negative effects of that sale. Without an understanding of the price of privacy, so to speak, that’s a very hard balancing act to perform. To my knowledge, there’s been no final litigation to determine what the damages would be for an individual to have their privacy violated in that way. So it makes it really hard for the Consumer Privacy Ombudsman to have an effective role there. 
    Klobuchar: Okay, and sort of to end where I began with Mr. Klein’s point. Why is it so important that Congress enact a comprehensive privacy law? 
    By the way, the same companies that were lobbying against one, because I’m also on the Commerce Committee, say, 10 years ago, now want one because of the patchwork of laws that we now have in our states. Which is very predictable, which I hope people will realize that we should need some AI rules of the road in place and tech rules of the law in place. And it’s just the worst that people just think they can lobby against things, and then all of a sudden they’re like, “oh no.” So, tell me why we need a privacy law and how that would have helped here.
    Gotberg: So, a greater predictability for companies when they’re entering into agreements with consumers would be, is always beneficial. So if companies know what the legal limitations are, then they can take that into account, and creditors can take that into account whether an asset will be available before lending to the, to the debtor. So it’s important to have that law in place inside and outside bankruptcy.

    MIL OSI USA News

  • MIL-Evening Report: After weeks of confusion and chaos, Tasmania heads back to the polls on July 19

    Source: The Conversation (Au and NZ) – By Robert Hortle, Deputy Director, Tasmanian Policy Exchange, University of Tasmania

    The Tasmanian government has called a state election for July 19, the fourth in a little over seven years.

    Following days of high drama, Governor Barbara Baker finally granted Liberal Premier Jeremy Rockliff’s election request, saying there was no other course of action to break the deadlock gripping Tasmanian politics:

    I make this grant because I am satisfied there is no real possibility that an alternative government can be formed.

    The ballot will be the second state election in just 16 months.

    So how did we get here? And what happens next?

    Dark political mofo

    The Dark Mofo festival kicked off last week, bringing to Hobart its usual mix of weird, dark, and violent modern art. But in the halls of Tasmanian parliament, a similarly macabre and vicious spectacle was playing out.

    I have written a more detailed analysis of events previously, but here’s the quick version.

    On June 3, the Labor opposition moved a motion of no confidence in Rockliff. After two days of acrimonious parliamentary debate, the motion passed on the casting vote of the speaker.

    An election looked inevitable because Rockliff refused to step aside and Opposition Leader Dean Winter ruled out doing a deal with the Greens to govern in minority.

    Parliament returned briefly to pass emergency supply bills, which were needed after the no confidence motion derailed the recent state budget.

    Shortly afterwards, Rockliff asked the governor to dissolve parliament and call an election. This request has now been granted after a few days of deliberation.

    How did it come to this?

    It’s been a rocky road for the Liberal government since the
    last state election in March 2024. Holding only 14 of the House of Assembly’s 35 seats, it has governed in minority thanks to confidence and supply deals with five crossbenchers.

    This tenuous arrangement was under constant pressure. Labor and the crossbench installed Michelle O’Byrne as speaker, and in the second half of 2024 passed three pieces of legislation against the government’s will.

    In August 2024, the implosion of the Jacqui Lambie Network and the forced resignation of Michael Ferguson as deputy premier and treasurer added further complications.

    Against this backdrop, the government has faced a rapidly
    deteriorating fiscal situation
    . This is partly the legacy of the COVID pandemic, compounded by recent global uncertainty. However, as economist Saul Eslake notes, the roots of the problem can be found in the policy choices made by previous state Liberal governments.

    Policy setbacks

    Even considering the challenging context, the government has
    done itself few favours. The ongoing project to replace the ageing Spirit of Tasmania ferries has been mired in cost blowouts and poor planning.

    An abrupt about-face on nation-leading gambling reforms, tentative explorations of privatising state assets – since abandoned – and radical changes to the planning system also caused concern.

    And of course, there is the saga over the highly contentious $945 million stadium to support a Tassie team in the AFL.

    Most importantly, though, there has been little progress on the deep structural reforms needed to address the state’s poor health and education outcomes, housing crisis, cost-of-living challenges, and worsening budget situation.

    On the positive side, the government points to achievements recruiting much-needed frontline healthcare workers, increasing the supply of social and affordable housing, and a historically low unemployment rate.

    What happens now?

    The campaign will be a political version of a classic children’s party game: pin the blame on the party.

    Liberal and Labor will both claim the early election is the fault of the other, while the debate over the stadium will likely continue to distract from Tasmania’s other, far more important challenges.

    The election result is hard to predict. In the past, Tasmanians
    have punished minority governments at elections, and in the latest available polling, support for the Liberal Party was at a 16-year low of 29%.

    But the circumstances of this election mean we can’t rely too much on previous trends. The drop in Liberal support is partly driven by northern Tasmanians’ dislike of the Hobart stadium. However, that won’t necessarily help Labor, because they also remain committed to the project.

    Labor will be energised by the federal party’s recent victory. But the most recent polling shows the state branch is barely more popular than the Liberals. Winter lags Rockliff as preferred premier 44%-32%, with a high “never heard of” rating of 24%.

    The Greens could benefit from being the only notable party opposed to the stadium, but will be fighting relentless Labor and Liberal warnings about the perils of forming another minority government.

    None of this points to the July 19 election producing a stable majority government. In fact, there is a strong likelihood the Tasmanian electorate – grumpy about being forced to the polls in mid-winter – will punish both major parties.

    This could result in an even larger and more diverse crossbench, requiring deft and collaborative negotiations to stitch together the numbers to form government.

    While the theatre of the campaign plays out, the ambitious structural reforms that Tasmania desperately needs seem further away than ever.

    The drama is worthy of Dark Mofo, but Tasmanians are already tired of the performance.

    Robert Hortle 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. After weeks of confusion and chaos, Tasmania heads back to the polls on July 19 – https://theconversation.com/after-weeks-of-confusion-and-chaos-tasmania-heads-back-to-the-polls-on-july-19-258597

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Economics: Czech Republic’s power capacity to reach 32.6GW in 2035, forecasts GlobalData

    Source: GlobalData

    Czech Republic’s power capacity to reach 32.6GW in 2035, forecasts GlobalData

    Posted in Power

    The Czech Republic boasts one of the lowest levels of power import dependence in Europe, thanks to its substantial reserves of hard coal. Nevertheless, the nation is committed to phasing out coal by 2033 and is in the process of establishing a comprehensive framework to support an inclusive transition. This transition is catalyzing investments in nuclear power, renewable energy sources, and natural gas. Against this backdrop, power capacity in the country is expected to reach 32.6GW in 2035, registering a compound annual growth rate (CAGR) of 3.3% during 2024-35, according to GlobalData, a leading data and analytics company.

    GlobalData’s latest report, “Czech Republic Power Market Outlook to 2035, Update 2025 – Market Trends, Regulations, and Competitive Landscape,” reveals that annual power generation in Czech Republic is expected to increase at a CAGR of 0.6% during 2024-35 to reach 76.4TWh.

    The Czech Republic has set a strategic goal to close the majority of its coal plants by 2033. The updated National Energy Plan, released in December 2024, emphasizes the expansion of nuclear energy and the utilization of renewable resources. The plan sets forth objectives to increase the contribution of nuclear energy to 44% and that of renewable energy sources to 28% in the nation’s electricity generation by 2030.

    Attaurrahman Ojindaram Saibasan, Senior Power Analyst at GlobalData, comments: “Nuclear energy is pivotal to the Czech Republic’s strategy for phasing out coal. The government endorses the expansion of nuclear capacity, particularly at the Dukovany and Temelín facilities. State participation in financing and the establishment of long-term offtake agreements are instrumental in shaping the trajectory of nuclear development, with the aim of reducing reliance on external energy sources by enhancing domestic nuclear generation.”

    In April 2025, the Czech competition authority dismissed appeals from Electricité de France (EDF), thereby confirming the selection of South Korea’s Korea Hydro & Nuclear Power (KHNP) for the construction of two new 1GW reactors at the Dukovany site. Valued at over 400 billion Czech koruna (approximately $18.2 billion), this project represents the most substantial energy investment in the nation’s history.

    Saibasan concludes: “The power sector presents opportunities in generation, transmission, and smart metering. Investment prospects seem particularly promising in areas such as gas-based power plants, turbines, and related equipment. In the transmission arena, the Czech Republic’s status as a net power exporter means that a substantial volume of electricity crosses its borders. While there is currently no congestion, the potential for such an occurrence in the future is significant.”

    MIL OSI Economics

  • MIL-OSI Economics: Danone Mexico’s advertisements drive wellness and lifestyle integration for consumers, reveals GlobalData

    Source: GlobalData

    Danone Mexico’s advertisements drive wellness and lifestyle integration for consumers, reveals GlobalData

    Posted in Business Fundamentals

    Danone Mexico’s YouTube advertising campaigns from June 2024 to May 2025 focused on promoting health, streamlining utility, and fostering community engagement across its dairy and nutritional product lines. The advertisements depict daily family scenarios and highlight offerings with natural ingredients and reduced sugar to connect with health-aware consumers. The campaigns also emphasize children’s nutrition and well-being, aligning these offerings with healthy lifestyle initiatives. Furthermore, by highlighting functional benefits like digestion support, these products are presented as essential components of a balanced daily routine, reveals Global Ads Platform of GlobalData, a leading data and analytics company.

    Sagar Kishor, Ads Analyst at GlobalData, comments: “Danone’s advertising strategy targets a range of consumer preferences by emphasizing health-oriented products, such as Danone Free. Additionally, it highlights convenience through offerings like Licuado Danone Avena Quaker and Danone Greek yogurt. Additionally, Danone Kids yogurt supports family nutrition, while the campaigns incorporate social impact initiatives, reflecting evolving consumer values and a commitment to community well-being.”

    Below are the key focus areas of Danone Mexico’s advertisements revealed by GlobalData’s Global Ads Platform:

    Ingredient Authenticity: Danone’s advertising campaigns highlight the use of natural fruit and other wholesome ingredients, such as Quaker Oats. This emphasis on visual and descriptive elements is designed to appeal to consumers who prioritize minimally processed options, thereby building trust through transparent communication about ingredients.

    Health & Lifestyle: The campaigns emphasize the inherent nutritional benefits of its product range, targeting consumers who prioritize well-being. Products such as Danone Deslactosado and Danone Free are highlighted not only for their health attributes but also as convenient and time-efficient options, underscoring their seamless integration into the busy daily routines of individuals and families.

    Family Welfare: Danone’s advertising strategy emphasizes the provision of nourishing choices that address family needs, particularly children. Ads for Danone Kids yogurt, for instance, reference the brand’s long-standing contribution to children’s essential nutrient intake, aligning with healthy eating habits and supporting comprehensive development across different life stages.

    Social Impact: Danone incorporates its commitment to social impact within its brand communication. The “Cuando eliges Danone, también eliges ayudar” campaign, prominently featuring products like Danone Free, directly links consumer purchases to supporting children’s cancer treatment. This strategy appeals to consumers’ desire to contribute to philanthropic causes, aiming to reinforce brand affinity through shared social values.

    MIL OSI Economics

  • MIL-OSI Economics: Liquid Glass shines, but AI shortfalls divide influencers opinion at WWDC 2025, reveals GlobalData

    Source: GlobalData

    Liquid Glass shines, but AI shortfalls divide influencers opinion at WWDC 2025, reveals GlobalData

    Posted in Business Fundamentals

    Apple Inc has introduced iOS 26 and macOS Tahoe 26 with “Liquid Glass” user interface (UI) at the ongoing Worldwide Developer Conference (WWDC) 2025. While some influencers are appreciating the Cupertino-based tech giant for introducing on-device LLMs and AI features like intelligent shortcuts in iOS 26, others feel underwhelmed by the limited AI progress, especially with Siri updates postponed to 2027 and modest ChatGPT integration, reveals the Social Media Analytics Platform of GlobalData, a leading data and analytics company.

    Smitarani Tripathy, Social Media Analyst at GlobalData, comments: “Influencers praised the Liquid Glass UI for its sleek, translucent look, elevating the visual appeal across iPhone, iPad, and Mac. However, the event disappointed with slow AI progress, no major Siri updates (delayed until 2027), and minimal advanced language model integration. The sleek, forward-looking UI captivated many, though some believe the company lags leading AI competitors, while others stay hopeful about its ecosystem’s future possibilities.”

    Below are a few popular influencers opinions captured by GlobalData’s Social Media Analytics Platform:

    1. Bilawal Sidhu, Technologist:

    “Apple WWDC 2025 > What users wanted: Siri that actually works > What users got: “You’ll immediately notice how the playback controls refract the environment. Sidebars and toolbars reflect the depth of your workspace and offer a subtle hint of the content.” I wanted more. But after getting burned for announcing AI vaporware, this WWDC marks a far more conservative Apple…”

    1. Robert Scoble, Founder /CEO of Unaligned:

    “Cynical take on Apple’s WWDC: just doing things Microsoft did back in 2003. Liquid glass. Menus on tablets. Dark take on it: it’s way behind in AI, and didn’t demonstrate any attempt to catch up. Light take: Lots of new AI features, like your phone will wait on hold for you now. Hopeful take: the new design joins Apple Vision Pro into its ecosystem, showing that the Apple Vision Pro is the future of Apple.”

    1. Jacob Jaber, Founder of Humble Lion Holdings:

    “WWDC screams ripeness for form factor innovation. The thing is, no one thinks of next-gen form factor innovation more than Apple, which may signal that the phone is here to stay for some time.”

    1. Kim, AI Technologist:

    “Wow, WWDC was a big disappointment. Hardly worth mentioning. In a nutshell: The UI will be improved, the OS will be fine-tuned a little, and the iPad will become more like a MacBook.AI? A little live translation, a little visual AI – and that’s it. No new Siri (already leaked by Mark Gurman as postponed until 2027), no deeper integration of LLMs such as ChatGPT.”

    1. Dan Ives, Senior Editor at The Verge:

    “Apple played it safe on WWDC as AI strategy was not a focus”

    1. Edward Ludlow, Co-Anchor, Bloomberg Technology:

    “Apple WWDC so far: Design update: Liquid Glass Confirmation: developers soon able to tap in to on-device LLMs. Enhancing software with existing Apple AI tools. Siri features (delayed) to be discussed in “the coming year. $AAPL”

    MIL OSI Economics

  • MIL-OSI Economics: Merck’s Enflonsia to gain competitive advantage in paediatric RSV prophylaxis market with lack of weight-based dosing, says GlobalData

    Source: GlobalData

    Merck’s Enflonsia to gain competitive advantage in paediatric RSV prophylaxis market with lack of weight-based dosing, says GlobalData

    Posted in Pharma

    Merck’s Enflonsia (clesrovimab) has received FDA approval for the prevention of respiratory syncytial virus (RSV) lower respiratory tract disease (LRTD) in newborns and infants born during or entering their first RSV season. Enflonsia, is a long-acting monoclonal antibody (mAb) that can provide protection through a typical 5-month RSV season with a 105mg dose, regardless of weight. This diversifies the prophylactic options available to protect young children from RSV, with Enflonsia expected to become a key player in the US market, says GlobalData, a leading data and analytics company.

    Anaelle Tannen, Infectious Disease Analyst at GlobalData, comments: “Enflonsia will now compete with Sanofi and AstraZeneca’s blockbuster drug Beyfortus (nirsevimab), for patient shares in the US*. The benefit of Enflonsia is that it is the first and only RSV preventative option for the paediatric market that does not require weight based-dosing, which makes administration easier and more convenient.”

    The recent approval of Enflonsia was based on clinical trial results from the Phase IIb/III CLEVER trial evaluating a single dose of Enflonsia administered to preterm and full-term infants. Treatment with clesrovimab reduced medically attended RSV lower respiratory infections by 60.4% and RSV-related hospitalizations by 84.2% compared to placebo.

    Tannen adds: “Both Beyfortus and Enflonsia have strong efficacy and safety profiles. Both are expected to completely replace the use of Sobi’s Synagis (palivizumab), an older mAb which requires monthly dosing throughout the RSV season and is associated with more toxicities, with side effects including fevers and rashes, among others.”

    Merck plans to make Enflonsia available for the 2025-26 RSV season. Enflonsia is expected to become a successful drug in the pediatric market, reaching sales of $488 million in the US, and $892 million globally by 2031, according to GlobalData’s analyst consensus forecast. Nonetheless, GlobalData still expects Beyfortus to perform better commercially than Enflonsia over this time period since it is an earlier-market entrant with a similar safety and efficacy profile. Furthermore, unlike Enflonsia, Beyfortus is also approved for use in children up to 24 months who remain vulnerable to RSV through their second RSV season.

    The CDC’s Advisory Committee on Immunization Practices (ACIP) meeting is due to be held on 25-27th June when recommendations for RSV immunizations will be made. These recommendations are likely to heavily influence Enflonsia’s ability to capture market share from Beyfortus.

    Tannen concludes: “With RSV being the leading cause of infant hospitalization in the US, Enflonsia provides an alternative, convenient and efficacious option to prevent RSV LRTD in neonates and infants.”

    *Beyfortus received FDA approval for the prevention of RSV LRTD in young children in July 2023.

    MIL OSI Economics

  • MIL-OSI China: Musk backs off from feud with Trump

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

    U.S. multibillionaire and high-tech entrepreneur Elon Musk stepped back from his explosive feud with U.S. President Donald Trump, writing on X that he regrets some of his posts about his onetime ally and that they went “too far.”

    Early Wednesday morning, he posted “I regret some of my posts about President @realDonaldTrump last week. They went too far.”

    “Musk’s break with a president whom he spent hundreds of millions of dollars to elect appeared to put an end to his influence in the White House and prompted concerns about effects on his companies,” noted the Los Angeles Times in its report about the development. As a major government contractor, Musk’s businesses could be particularly vulnerable to retribution, and Trump has already threatened to cut Musk’s contracts.

    Musk earlier deleted a post in which he claimed without evidence that the government was concealing information about the president’s association with infamous pedophile Jeffrey Epstein. Meanwhile, other posts that irritated Trump, including ones in which Musk called the spending bill an “abomination” and claimed credit for Trump’s election victory, remained live.

    On Sunday, Trump told NBC that he has no desire to repair their relationship and warned that Musk could face “serious consequences” if he tries to help Democrats in upcoming elections.

    MIL OSI China News

  • MIL-OSI USA: SBA Offers Disaster Relief to Michigan Small Businesses, Private Nonprofits and Residents Affected by March Storms

    Source: United States Small Business Administration

    ATLANTA –The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans for Michigan small businesses, private nonprofits, and residents affected by the severe winter storms occurring March 28-30. The SBA issued a disaster declaration in response to a request received from Gov. Gretchen Whitmer on June 5.

    The declaration covers the counties of Charlevoix, Cheboygan, Emmet, Mackinac, Montmorency, Otsego and Presque Isle.

    Small businesses and private nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

    Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.

    Applicants may also be eligible for a loan increase of up to 20% of their physical damage, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include strengthening structures to protect against high wind damage, upgrading to wind rated garage doors, and installing a safe room or storm shelter to help protect property and occupants from future damage.

    “One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “I encourage businesses and homeowners to work with contractors and mitigation professionals to improve their storm readiness while taking advantage of SBA’s mitigation loans.”

    SBA’s EIDL program is available to small businesses, small agricultural cooperatives and private nonprofit (PNP) organizations with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

    EIDLs are for working capital needs caused by the disaster and are available even if the business did not suffer any physical damage. They may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    Interest rates are as low as 4% for small businesses, 3.62% for PNPs, and 2.75% for homeowners and renters, with terms up to 30 years. Interest does not begin to accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms, based on each applicant’s financial condition.

    Beginning Thursday, June 12, SBA customer service representatives will be on hand at the Disaster Loan Outreach Center in Cheboygan County to answer questions about SBA’s disaster loan program, explain the application process and help individuals complete their application. Walk-ins are accepted, but you can schedule an in-person appointment in advance at appointment.sba.gov.

    The DLOC hours of operation are listed below:

    Disaster Loan Outreach Center (DLOC) 
    Cheboygan County

    Indian River Chamber of Commerce

    3435 S Straits Hwy.

    Indian River, MI 49749

    Opening:  Thursday, June 12, 9 a.m. to 5 p.m.

    Hours: Monday – Friday – 8 a.m. to 5 p.m.

    Saturday – 10 a.m. to 2 p.m.

    Closed: Sunday

    Permanently Closing: July 10 at 4 p.m.

    Disaster survivors should not wait to settle with their insurance company before applying for a disaster loan. If a survivor does not know how much of their loss will be covered by insurance or other sources, SBA can make a low-interest disaster loan for the total loss up to its loan limits, provided the borrower agrees to use insurance proceeds to reduce or repay the loan.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    The filing deadline to return applications for physical property damage is Aug. 8, 2025. The deadline to return economic injury applications is Mar. 9, 2026.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov. 

    MIL OSI USA News

  • MIL-OSI USA: SBA Offers Relief to Missouri Private Nonprofits Affected by May Storms

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to private nonprofit (PNP) organizations in Missouri affected by severe storms, straight-line winds, tornadoes and flooding occurring May 16.

    The disaster declaration covers the Missouri counties of Scott, St. Louis, and the Independent City of St. Louis.

    Under this declaration, PNPs providing non-critical services of a governmental nature impacted by physical damages or financial losses directly related to the disaster are eligible to apply for both business physical damage loans and Economic Injury Disaster Loans (EIDLs) from the SBA. Examples of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools, and colleges.

    PNPs may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. Applicants may also be eligible for a loan increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes.

    EIDLs are for working capital needs caused by the disaster and are available even if the PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    “SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”

    Interest rates are as low 3.62% for PNPs with terms up to 30 years. Interest does not begin to accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA will set loan amounts and terms based on each applicant’s financial condition.

    The SBA encourages applicants to submit their loan applications promptly. Applications will be prioritized in the order they are received, and the SBA remains committed to processing them as efficiently as possible.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    The deadline to return physical damage applications is Aug. 11, 2025. The deadline to return economic injury applications is March 9, 2026.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News

  • MIL-OSI Global: 201 ways to say ‘fuck’: what 1.7 billion words of online text shows about how the world swears

    Source: The Conversation – Global Perspectives – By Martin Schweinberger, Lecturer in Applied Linguistics, The University of Queensland

    Our brains swear for good reasons: to vent, cope, boost our grit and feel closer to those around us. Swear words can act as social glue and play meaningful roles in how people communicate, connect and express themselves – both in person, and online.

    In our new research published in Lingua, we analysed more than 1.7 billion words of online language across 20 English-speaking regions. We identified 597 different swear word forms – from standard words, to creative spellings like “4rseholes”, to acronyms like “wtf”.

    The findings challenge a familiar stereotype. Australians – often thought of as prolific swearers – are actually outdone by Americans and Brits, both in how often they swear, and in how many users swear online.

    Facts and figures

    Our study focused on publicly available web data (such as news articles, organisational websites, government or institutional publications, and blogs – but excluding social media and private messaging). We found vulgar words made up 0.036% of all words in the dataset from the United States, followed by 0.025% in the British data and 0.022% in the Australian data.

    Although vulgar language is relatively rare in terms of overall word frequency, it was used by a significant number of individuals.

    Between 12% and 13.3% of Americans, around 10% of Brits, and 9.4% of Australians used at least one vulgar word in their data. Overall, the most frequent vulgar word was “fuck” – with all its variants, it amounted to a stunning 201 different forms.

    We focused on online language that didn’t include social media, because large-scale comparisons need robust, purpose-built datasets. In our case, we used the Global Web-Based English (GloWbE) corpus, which was specifically designed to compare how English is used across different regions online.

    So how much were our findings influenced by the online data we used?

    Telling results come from research happening at the same time as ours. One study analysed the use of “fuck” in social networks on X, examining how network size and strength influence swearing in the UK, US and Australia.

    It used data from 5,660 networks with more than 435,000 users and 7.8 billion words and found what we did. Americans use “fuck” most frequently, while Australians use it the least, but with the most creative spelling variations (some comfort for anyone feeling let down by our online swearing stats).

    Teasing apart cultural differences

    Americans hold relatively conservative attitudes toward public morality, and their high swearing rates are surprising. The cultural contradiction may reflect the country’s strong individualistic culture. Americans often value personal expression – especially in private or anonymous settings like the internet.

    Meanwhile, public displays of swearing are often frowned upon in the US. This is partly due to the lingering influence of religious norms, which frame swearing – particularly religious-based profanity – as a violation of moral decency.

    Significantly, the only religious-based swear word in our dataset, “damn”, was used most frequently by Americans.

    Research suggests swearing is more acceptable in Australian public discourse. Certainly, Australia’s public airing of swear words often takes visitors by surprise. The long-running road safety slogan “If you drink, then drive, you’re a bloody idiot” is striking – such language is rare in official messaging elsewhere.

    Australians may be comfortable swearing in person, but our findings indicate they dial it back online – surprising for a nation so fond of its vernacular.

    In terms of preferences for specific forms of vulgarity, Americans showed a strong preference for variations of “ass(hole)”, the Irish favored “feck”, the British preferred “cunt”, and Pakistanis leaned toward “butt(hole)”.

    The only statistically significant aversion we found was among Americans, who tended to avoid the word “bloody” (folk wisdom claims the word is blasphemous).

    Being fluent in swearing

    People from countries where English is the dominant language – such as the US, Britain, Australia, Canada, New Zealand and Ireland – tend to swear more frequently and with more lexical variety than people in regions where English is less dominant like India, Pakistan, Hong Kong, Ghana or the Philippines. This pattern holds for both frequency and creativity in swearing.

    But Singapore ranked fourth in terms of frequency of swearing in our study, just behind Australia and ahead of New Zealand, Ireland and Canada. English in Singapore is increasingly seen not as a second language, but as a native language, and as a tool for identity, belonging and creativity. Young Singaporeans use social swearing to push back against authority, especially given the government’s strict rules on public language.

    One possible reason we saw less swearing among non-native English speakers is that it is rarely taught. Despite its frequency and social utility, swearing – alongside humour and informal speech – is often left out of language education.

    Cursing comes naturally

    Cultural, social and technological shifts are reshaping linguistic norms, blurring the already blurry lines between informal and formal, private and public language. Just consider the Aussie contributions to the July Oxford English Dictionary updates: expressions like “to strain the potatoes” (to urinate), “no wuckers” and “no wucking furries” (from “no fucking worries”).

    Swearing and vulgarity aren’t just crass or abusive. While they can be used harmfully, research consistently shows they serve important communicative functions – colourful language builds rapport, expresses humour and emotion, signals solidarity and eases tension.

    It’s clear that swearing isn’t just a bad habit that can be easily kicked, like nail-biting or smoking indoors. Besides, history shows that telling people not to swear is one of the best ways to keep swearing alive and well.

    Martin Schweinberger has received funding from from the Centre for Digital Cultures and Society and the School of Languages and Cultures at the University of Queensland. He is currently funded by the Language Data Commons of Australia, which has received investment from the Australian Research Data Commons, funded by the National Collaborative Research Infrastructure Strategy.

    Kate Burridge 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. 201 ways to say ‘fuck’: what 1.7 billion words of online text shows about how the world swears – https://theconversation.com/201-ways-to-say-fuck-what-1-7-billion-words-of-online-text-shows-about-how-the-world-swears-257815

    MIL OSI – Global Reports

  • MIL-OSI USA: Griffith Statement on EPA Proposed Rollbacks of Power Plant Rules

    Source: United States House of Representatives – Congressman Morgan Griffith (R-VA)

    Environmental Protection Agency (EPA) Administrator Lee Zeldin announced proposed repeals of “greenhouse gas” emissions standards for the power sector under Section 111 of the Clean Air Act and amendments to the 2024 Mercury and Air Toxic Standards. House Committee on Energy and Commerce Environment Subcommittee Chair and U.S. Congressman Morgan Griffith (R-VA) issued the following statement:

    “The Trump Administration continues to fight for American coal and American energy! Administrator Zeldin’s actions help kickstart the unraveling of the Obama-Biden-Harris ‘War on Coal’ and continue our drive to a return of American energy dominance.

    “These actions give communities like mine in Appalachia hope. We will continue to support federal developments that aim to reinvigorate coal communities and lower energy costs for American families.

    “Affordable energy equals vibrant national economic health.”

    BACKGROUND

    In the 118th Congress, Rep. Griffith chaired the House Committee on Energy and Commerce Subcommittee on Oversight & Investigations.

    In the 119th Congress, Congressman Griffith is serving his first term as chairman of the House Committee on Energy and Commerce Subcommittee on Environment.

    The Environment Subcommittee’s first two hearings of the year focused on the EPA’s regulation of chemical manufacturing and the administration of the Brownfields Program.

    Later, Congressman Griffith welcomed Administrator Zeldin for a subcommittee hearing on EPA’s FY26 budget request.

    This week, Congressman Griffith held a hearing that examined the impacts of the Clean Air Act.

    While these rules are not finalized, the EPA estimates that repeal of the power plant rules would save $19 billion in regulatory costs over two decades beginning in 2026. 

    Congressman Griffith’s Congressional Review Act (CRA) resolution to repeal a last-minute Biden-Harris regulation on tire manufacturers passed Congress this year. In May, President Trump signed the resolution into law.

    Congressman Griffith helped lead an effort on the House floor to pass CRAs that overturned California’s Clean Air Act waivers.

    Congressman Griffith’s bill H.R. 3632, the Power Plant Reliability Act of 2025, which would help keep baseload power plants online, was favorably reported by the Energy Subcommittee last week.

    ###

    MIL OSI USA News

  • MIL-OSI New Zealand: Government backs voluntary nature credits

    Source: New Zealand Government

    The Government is supporting the expansion of a voluntary credits nature market through the running of pilot projects across New Zealand. Establishing a market that is durable, measurable and transparent will help farmers, landowners, iwi, and conservation groups unlock new income streams for looking after nature on their land, Associate Minister for the Environment Andrew Hoggard announced today at Fieldays.

    “We want to connect those caring for the land with investors who support conservation. Nature credit markets help fund trusted environmental projects that actively protect and restore ecosystems.”

    Mr Hoggard said international and domestic investors—including corporates, banks, and philanthropists—are seeking high-quality nature and carbon credits that meet global standards. The development of a nature credit market is important to investors and New Zealand’s reputation.

    “New Zealand companies spent millions on carbon and nature credits mainly offshore last year. With the right framework, we can keep more of that investment at home.”

    The Government moved quickly to repeal the previous Government’s direction to Councils to identify and map Significant Natural Areas (SNA) by suspending parts of the National Policy Statement – Indigenous Biodiversity.

    “Farmers and other private landowners are doing their part to protect native biodiversity and want to do more. Supporting voluntary natural credits markets is a chance for the Government to show them the carrot, not just the stick.

    Privately funded pilot projects are underway to test how nature credit markets can work in the New Zealand context. As part of these pilots, we will test the role for Government which may include setting principles, and a framework for standards, to build market confidence and ensure quality.”

    Further details on the Government’s role and the design of the expanded market will be announced in the coming months.

    Information about voluntary nature credits market pilots

    The pilots represent different land conditions, locations, types of market participants, and activities.  They will help the Government understand how to meet the high standards of international markets, the role of Government, and what works best in New Zealand. This real-life experience will provide valuable insights as we move to the next stage of market design.

    1. Te Toa Whenua Northland, led by Reconnecting Northland. Transitioning around 100 ha from exotic forestry to native including pest control on iwi-owned land.
    2. Waituna Nature Credits Prototype Southland, led by Whakamana te Waituna Charitable Trust (Awarua Rūnunga, Ngai Tahu, Fonterra, Southland District Council, Environment Southland, and Department of Conservation). Restoring 400 ha of farmland at lagoon margins to lowland forest & wetlands (RAMSAR protected site).
    3. Waimanu Forest Gisborne Led by Aratu Forests. Converting a commercial forestry block to 50 ha of natives for biodiversity uplift and increased recreational and educational values. Scope to expand to up to 5,000 ha.
    4. Sanctuary Mountain Maungatautari insights Waikato, led by Sanctuary Mountain Maungatautari. Observing the current process of issuing credits for conservation and protection activities within the 3,360 ha inland ecological sanctuary.
    5. Existing Biodiversity Credits Market (BCM) project standard insights Led by Ekos. Offering market insights from an existing BCM provider. Includes understanding the journey of Reconnecting Northland’s proof-of-concept project through this process.
    6. Adapted nature credits international standards Led by Boffa Miskell. Testing at-place an additional NZ BCM project standard that is adapting UK methodology to NZ environments as a competitor to domestic or international project standard/certification providers.
    7. Voluntary carbon market standard with biodiversity safeguards insights Led by AsureQuality. Testing its carbon project standard, which requires native revegetation, designed to be more applicable and affordable for the New Zealand context.
    8. Nature positive credit programme pilot Led by Silver Fern Farms. Testing a processor-led programme for market attraction, and potentially third-party investment, in on-farm nature restoration and enhancement activities that support commercial ‘nature positive’ claims.
    9. Nature-based markets pilots for rural landowners Led by Pāmu Farms. Exploring pathways to make nature-based markets accessible to a range of New Zealand farmers and landholders.

    MIL OSI New Zealand News

  • MIL-OSI Australia: Allianz’ proposed acquisition of RAA Insurance not opposed

    Source: Australian Ministers for Regional Development

    The ACCC will not oppose Allianz Australia Insurance Limited’s proposed acquisition of the Royal Automobile Association of South Australia’s personal insurance business (RAAI).

    Allianz and RAAI both supply home and contents insurance and motor insurance products in South Australia.

    “Our investigation focused on the closeness of competition between RAAI and Allianz and the extent to which other insurers are competing effectively to supply insurance to South Australians,” ACCC Commissioner Dr Philip Williams said.

    “We also considered how competitive RAAI is now and is likely to be in the future without being acquired by Allianz. The likely impact of the acquisition on insurance prices, coverage and service offerings were all carefully considered.”

    The ACCC found that other suppliers will continue to compete with, and constrain, a merged Allianz and RAAI after the acquisition, making the transaction unlikely to substantially lessen competition.

    “As well as being the two largest insurers in Australia, Suncorp and IAG also have a significant presence in South Australia. As such, both are likely to compete effectively against Allianz in South Australia even after it has purchased RAAI,” Dr Williams said.

    “Mid-tier insurers Auto & General (Budget Direct) and Youi are also growing their market share nationally and will continue to compete on price in South Australia.”

    “While RAAI has a strong brand reputation associated with its motoring club and membership offering, we found that competition in relation to price and coverage in South Australia is being driven predominantly by other insurers, including Suncorp through its AAMI brand, IAG, Auto & General and Youi,” Dr Williams said.

    The ACCC also considered how the growing challenges facing the insurance industry are affecting RAAI, with a particular focus on the increasing numbers of extreme weather events and rising reinsurance and regulatory costs.

    The ACCC’s investigation found evidence that RAAI is facing specific challenges meaning that it is likely to be less competitive than it has been in recent years.

    The ACCC also considered the impact of the proposed acquisition on markets for the acquisition of smash repair services, windscreen repair and replacement services, and building repair services in South Australia.

    The ACCC found that the proposed acquisition is unlikely to substantially lessen competition in these markets as Allianz is unlikely to have the ability to diminish prices or supply terms 2 after the acquisition due to its position in the market relative to other insurers and acquirers of these services.

    The ACCC will also shortly be considering IAG’s proposed acquisition of RAC Insurance from RAC WA. This decision in relation to Allianz and RAAI should not be treated as being indicative of the ACCC’s decision for that transaction. The competitive dynamics and issues in each transaction are unique and the ACCC is considering each transaction individually.

    Further information can be found on the ACCC’s public register: Allianz Australia Limited – RAA Insurance Holdings Limited.

    Background

    Allianz Group is a global insurance service provider that offers a range of insurance products to customers in Australia. Allianz distributes personal insurance products (including home and contents insurance and motor insurance) directly to customers under the Allianz and TIO brands.

    Allianz also underwrites insurance products and distributes it through agreements with third party brands, including Westpac, BankSA, St George Bank, HSBC, NAB, Aussie, Newcastle Permanent, RAMS, and Catholic Church Insurance.

    The Royal Automobile Association of South Australia (RAA) is a South Australian based, member-owned organisation that offers roadside assistance products, personal insurance products, and other ancillary services to its members.

    RAAI is a subsidiary of RAA and underwrites home and contents insurance and motor insurance products and distributes them directly through the RAA network via call centres, physical branches (all of which are in South Australia), and the RAA website.

    RAAI’s insurance products are only available in South Australia. The proposed acquisition does not include RAA’s membership-based business, which includes its roadside assistance business.

    MIL OSI News

  • MIL-OSI Submissions: Australia – Household spending subdued in May, but consumers show signs of life with restaurant, recreation spending uplift – CBA

    Source: Commonwealth Bank of Australia (CBA)

    Households using money saved from energy rebates, lower petrol prices, and interest rate cuts to treat themselves.

    https://youtu.be/obtoCYYhE4Q?si=aLwclsdKp-L9zzA1

    The CommBank Household Spending Insights (HSI) Index rose just 0.5 per cent in May. However signs are emerging that consumers are starting to loosen the purse strings for small luxuries thanks to lower costs in key spending areas like petrol and electricity bills. (ref. https://www.commbankresearch.com.au/apex/researcharticleviewv2?id=a0NDo000000wSW3 )

    Despite overall spending softness in the second quarter so far, Hospitality and Recreation now rank at the top of annual spending categories when compared to May last year, as households splashed out on restaurants, food delivery, cinemas and online travel, indicating continued divergence in spending tr

    MIL OSI – Submitted News

  • MIL-OSI USA: Abbott, Texas Groups Endorse Cornyn-Led Push to Bring Space Shuttle Discovery to Houston

    US Senate News:

    Source: United States Senator for Texas John Cornyn
    Cornyn Announces Support for His Bring the Space Shuttle Home Act                                                                           
    U.S. Senator John Cornyn (R-TX)’s Bring the Space Shuttle Home Act, which would move the Space Shuttle Discovery from Virginia to its rightful home near the National Aeronautics and Space Administration’s (NASA) Johnson Space Center (JSC) in Houston, has earned praise from Texas Governor Greg Abbott and space-related groups in the Houston area as the Senator works to include it in the Senate’s reconciliation legislation:
    “There is no better final home for Space Shuttle Discovery than JSC, where these explorers of tomorrow can learn from and be inspired by the incredible legacy of those who changed the history of the world in Houston, where giant leaps in human spaceflight started,” said Gov. Abbott. (Letter, 6/6/2025)
    “Exhibiting the Space Shuttle Discovery in Houston would significantly enhance educational opportunities and support the growth of our space economy, here in the home of human space flight. With 280 acres at Exploration Park dedicated to commercial space companies, the nearby Ellington Field Space Port, and the Texas Space Commission actively investing in the space economy, Discovery would play a crucial role in advancing our future prospects,” said Space Center Houston President & CEO William T. Harris. (Letter, 6/9/2025)
    “Despite its central role in the Shuttle program, Houston was not selected to receive an orbiter following retirement. Your bill offers an opportunity to correct that oversight and deliver a fitting and permanent home for the Shuttle in the place where so much of its story was written and where it will inspire the next generation of explorers,” said Bay Area Houston Economic Partnership President Brian Freedman. (Letter, 6/9/2025)
    Background:
    The Bring the Space Shuttle Home Act, introduced by Sen. Cornyn and cosponsored by Sen. Cruz in April, would move the Space Shuttle Discovery from Virginia to its rightful home near NASA’s JSC in Houston.
    Mission Control at NASA’s Johnson Space Center led all of the space shuttle flights throughout the program’s history, and the astronauts who flew aboard the shuttles lived and trained in the area Houston. Four space shuttles were retired from NASA in 2010, and one of them was expected to go on display in the Space City. Congress stated in the NASA Authorization Act of 2010 that the four space shuttles were to be given to states with a “historical relationship with either the launch, flight operations, or processing of the Space Shuttle orbiters or the retrieval of NASA-manned space vehicles, or significant contributions to human space flight.” Unfortunately, this directive was unlawfully ignored by the Obama administration, who played politics to keep Houston from getting one of the shuttles. Notably, the administration gave one of the four shuttles to New York City, which has not made any major contributions to the nation’s history of space exploration and is not home to a NASA center—unlike Houston. The Space Shuttle Discovery is the only shuttle still owned by the federal government and able to be transferred to Houston. This legislation would authorize the movement of the Space Shuttle Discovery from the Smithsonian’s National Air and Space Museum’s Steven F. Udvar-Hazy Center in Virginia to a nonprofit near the JSC in Houston.
    Last week, provisions led by Sen. Cornyn, including the Mission to Modernize Astronautic Resources (MARS) for Space Act, as well as funding for National Aeronautics and Space Administration’s (NASA) Artemis program and resources to support the International Space Station (ISS) were included in the Senate Committee on Commerce, Science and Transportation’s legislative text to be included in the Senate version of the One Big Beautiful Bill Act. Sen. Cornyn continues to advocate for funding for NASA’s JSC and other space-related initiatives.

    MIL OSI USA News

  • MIL-OSI USA: Kennedy in the Ouachita Citizen: It’s time to stop pouring taxpayer money into biased public broadcasting

    US Senate News:

    Source: United States Senator John Kennedy (Louisiana)
    WASHINGTON – Sen. John Kennedy (R-La.) penned this op-ed in the Ouachita Citizen arguing that Congress should defund the Corporation for Public Broadcasting (CPB) and, in turn, National Public Radio (NPR) and the Public Broadcasting Service (PBS).
    Key excerpts of the op-ed are below:
    “One would think that receiving billions of dollars from taxpayers would motivate NPR and PBS to publish fair reporting that the American people can use. Instead, these organizations have consistently promoted ideas that reflect their own personal political beliefs, without attempting to provide the other side. These organizations are using taxpayer money to advance their own political agendas.”
    . . .
    “Even if the content on NPR and PBS was fair, the American people no longer need public broadcasting to access the news of the day. With more than $37 trillion in federal debt, the idea of giving these organizations a single penny is bone-deep, down-to-the-marrow stupid.
    “That’s why President Trump has paused federal funding to NPR and PBS through an executive order. He also recently asked Congress to formally rescind its funding of these public broadcasting entities—and the Senate should jump on this opportunity to pass President Trump’s rescission request on all his planned spending cuts as soon as possible. This would allow the Trump administration to cut off any money that the last Democrat-controlled Congress already allocated to the CPB and, in turn, NPR and PBS, in 2025.
    “To make sure no new money is allocated to the CPB moving forward, I introduced the No Propaganda Act. This bill would permanently defund the CPB.
    “The federal government has no business funding media companies. It’s time to stop picking winners and losers and defund public broadcasting for good.” 
    Read Kennedy’s op-ed here.  

    MIL OSI USA News

  • MIL-OSI USA: Kennedy to HHS: Fight foreign shrimp imports that hurt Louisiana and threaten Americans’ health

    US Senate News:

    Source: United States Senator John Kennedy (Louisiana)
    WASHINGTON – Sen. John Kennedy (R-La.) today sent a letter to Secretary of Health and Human Services (HHS) Robert F. Kennedy Jr. urging his department to work with its partners to prevent unsafe foreign shrimp from reaching American consumers.
    While U.S. shrimp manufacturers comply with bans on antibiotic use and numerous environmental regulations, not all shrimp producers in countries like India, Ecuador, Indonesia and Vietnam abide by the same standards. A recent decline in transparency among members of the foreign shrimp industry has raised further concerns.
    “I write to express my concern regarding the ongoing public health risk posed by the importation of farmed shrimp into the United States. In 2021, the United States imported approximately 1.9 billion pounds of shrimp, accounting for over 90% of the nation’s consumption,” Kennedy began the letter.
    “A growing body of academic research and investigative reporting indicate that imported shrimp frequently contain illicit antibiotics and harbor antimicrobial-resistant bacteria. One of the most prevalent risks associated with warm-water shrimp aquaculture is antibiotic use, which poses significant health threats related to potential parasitic infection along with disease outbreaks,” the senator explained.
    “Fortunately, President Trump is taking action. On April 17, 2025, President Trump issued an Executive Order titled Restoring American Seafood Competitiveness, which strengthens the domestic seafood industry and addresses the need to eliminate unsafe imports, promote ethical seafood sourcing, and level the playing field for domestic seafood producers,” Kennedy added. 
    “In light of the President’s executive order and the ongoing health risks posed by imported seafood, I urge the Department of Health and Human Services to collaborate with the U.S. Trade Representative, U.S. Customs and Border Protection, and other relevant agencies to strengthen inspection capabilities and stop this harmful seafood from being sold domestically,” he wrote.
    Background: 
    In Dec. 2023, Kennedy introduced a bill to bolster the Seafood Import Monitoring Program’s ability to audit foreign seafood imports that its producers misrepresent. Senate Democrats blocked Kennedy’s bill.
    In May 2024, Kennedy questioned then-Secretary of Commerce Gina Raimondo on safety risks associated with imported shrimp and crawfish, drawing attention to foreign countries that subsidize their seafood industries and engage in false advertising.
    The full letter is available here.

    MIL OSI USA News

  • MIL-OSI USA: SCHUMER SAYS: HANDS OFF UPSTATE NY’S JOB CORPS CENTERS; FOLLOWING TRUMP ORDER TO SHUT DOWN JOB CORPS, ELIMINATING 550+ UPSTATE NY JOBS & CUTTING JOB TRAINING FOR THOUSANDS OF NEW YORKERS, SENATOR…

    US Senate News:

    Source: United States Senator for New York Charles E Schumer
    Job Corps Provides Residential Workforce Training To Thousands of Students Across America & NY – Located In Albany, Sullivan, Orleans, Otsego & Chautauqua Counties – Helping Underserved Workers Get The Skills They Need To Start Careers In Healthcare, Construction, Tech, And Other Fields With Worker Shortages
    Schumer Says Rash, Potentially Illegal Move By Trump Admin Is Gut Punch To Upstate NY’s Worker-Starved Businesses From Albany To Western NY That Rely On Job Corps To Find Skilled Workers; Demands NY Republicans Stand Up To Trump And Join Him In Pushing To Reverse These Counterproductive Cuts That Hurt Small Businesses & Workers In Their Backyards
    Schumer: Eliminating Job Corps Hurts Workers, Businesses, And Upstate NY Economy
    With the Trump administration attempting to eliminate Job Corps, one of the nation’s largest workforce training programs with 5 centers across Upstate NY, U.S. Senator Chuck Schumer demanded the Trump administration stop their cruel, potentially illegal, attempts to decimate Job Corps, eliminating over 550 jobs across Upstate NY and canceling training to help students across America, including thousands in New York, get the skills they need to enter in-demand careers. Schumer said Upstate NY’s Job Corps centers – in Albany, Sullivan, Orleans, Otsego, and Chautauqua Counties – are essential for local small businesses and other employers that rely on Job Corps for a pipeline of new skilled workers to fill jobs.
    Schumer said the Trump administration is not only attempting to shut down Job Corps centers by June 30th, but in the recently released Presidential “skinny” budget request, Trump said he wants to totally zero out funding for the program. Schumer is leading efforts in the Senate to oppose these destructive and potentially illegal actions like pausing existing funds for the Job Corps centers by the Trump Administration to end this valuable program to train Upstate NY workers, and is demanding the GOP, especially NY House Republicans, many of whom have districts that rely on Job Corps, to stand with their constituents in fighting to save Job Corps by pushing the Trump administration to reverse course on these damaging policies.  
    “Across Upstate NY the Trump administration’s cruel order to shut down Job Corps centers has caused students and teachers to scramble, and if this goes through, it will be our small businesses and local economies paying the price. Job Corps is one of the best bang for your buck programs we have, one of America’s largest workforce training programs with thousands upon thousands of success stories putting young people into good-paying careers and helping employers grow with new, skilled workers. Job Corps is where New Yorkers go to get the skills they need to start their career in healthcare, construction, and other in demand fields, but right now, Trump wants to close the doors and kick all these young workers out on the street,” said Senator Schumer. “It’s cruel, it’s outrageous, and potentially illegal to stop the flow of funding under existing contracts from a program that is authorized and funded by Congress. We must save Job Corps across Upstate NY. We want to help young people get jobs, to get the training they need for successful careers, and eliminating these centers will hurt those students as well as local employers like small businesses and hospitals in getting the skilled workers they need. The courts have already put a pause on Trump’s initial attempts to kill Job Corps, and I will vehemently oppose his attempts to defund this program in the Senate because the people are on our side in saving Job Corps.”
    Last month, Trump paused operations at Job Corps centers nationwide sparking widespread outcry. Schumer explained this would kick more than a thousand young New Yorkers out of training programs and potentially to the curb, create mass layoffs of hundreds of workers at Job Corps centers in every corner of the state and hurt local businesses and other employers in need of skilled workers. Since then, a federal judge has temporarily blocked the pause, but Job Corps employees and students are being left in the lurch and are being forced to scramble as they do not know what the future holds as a final ruling in the court case is pending and the Trump administration continues its attacks on the program. In addition, Trump’s FY2026 budget proposal would completely eliminate funding for Job Corps centers, effectively killing the program.
    The Trump administration’s destructive actions would close Job Corps centers in every corner of New York, which train thousands of young New Yorkers every year. Schumer specifically highlighted how:
    In the Capital Region, the Glenmont Job Corps Center provides training to hundreds of students every year in fields encompassing construction, solar, culinary, automotive, security, and healthcare. The center employs 125 workers in the local area and has an estimated local community impact of $24.6 million annually.
    In the Hudson Valley, the Delaware Job Corps Center provides training for hundreds of students in fields encompassing construction, security, healthcare, and culinary. The center employs 101 workers in the local area and has an estimated local community economic impact of $18.1 million annually. The center also provides construction for community-based projects throughout the region via work-based learning agreements.
    In the Rochester-Finger Lakes Region, the Iroquois Job Center provides training to over 200 students in fields such as brick masonry, carpentry, electrical work, commercial painting, and healthcare. The center employs approximately 104 staff and injects over $8.9 million in federal funding into the local economy every year.
    In the Southern Tier, the Oneonta Job Corps is currently providing training hundreds of students and employs approximately 130 staff dedicated to helping students succeed.  Attracting students from all across the country, the center prepares students for careers in auto trades, healthcare, and pre-apprenticeship union trades in electrical, tile, and cement masonry. Oneonta’s Smart Grid Advanced Training for Electrical program helps students develop the skills they need to work on overhead lines, underground residential distributions, and smart meter logic controllers. In partnership with Mohawk Valley Community College, the center is training the next generation of drone operators through their Unmanned Aircraft Systems Operator program.
    In Western New York, the Cassadaga Job Corps provides training in fields such as healthcare, carpentry, and plumbing. The center employs approximately 100 workers in the local area.
    Schumer added, “Many of NY GOP districts rely on workers trained at Upstate NY’s Job Corps centers. That is why I’m calling on NY House Republicans to immediately reverse the proposed cuts in Trump’s budget request and push the Trump administration to stop its destructive pause of current funding to Job Corps that would devastate communities in their backyard.”
    For more than 60 years, Job Corps centers have helped millions of young people ages 16 to 24 finish high school, learn technical skills, and get jobs in in-demand fields such as healthcare and construction. Low-income and at-risk young people have received stable housing and health care while developing the skills they need to get good-paying jobs after graduation. Schumer is fighting to keep these centers open to preserve this pipeline for thousands of New Yorkers.
    Schumer recently sent a letter with 39 of his colleagues in the Senate calling on U.S. Department of Labor Secretary Lori Chavez-DeRemer to protect Job Corps and demanding answers on these destructive efforts. A copy of the letter sent by Senator Schumer and his colleagues can be found HERE.
    “At Glenmont Job Corps, we see firsthand how powerful this program is. It gives young people the tools, support, and confidence they need to rewrite their stories and build a better future. These aren’t just students—they’re future workers, leaders, and contributors to our communities. If Job Corps is taken away, the loss won’t just be felt by the students—it’ll be felt in our neighborhoods, our workforce, and our local economy. We could see more young people left without direction, and that creates real challenges for everyone. This program works—and it’s worth fighting for. I’m incredibly grateful to Senator Schumer for standing with us and with every young person who deserves a chance to succeed,” said Tracy Battle, Center Director, Glenmont Job Corps.
    “For 60 years, the Iroquois Job Corps Center has trained hundreds of young adults annually to become the electricians, carpenters, medical assistants and more that our community needs,” said Lynne Johnson, Chairman of the Orleans County Legislature.  “The Center is also a vital employer, with 104 local workers, and has infused over 8.9 million-dollars in federal funding into our region’s economy. Stopping student enrollments and threatening to close the Iroquois Job Corps Center not only risks the futures of over 12,000 students but also the workforce that drives our region’s economic growth.  I’m proud to stand with Senator Schumer in calling for Job Corps student enrollments to resume immediately and keeping the Iroquois Job Corps Center open, so we can continue building a stronger, more prosperous community.”
    “I’ve worked at the Cassadaga Job Corps Center for 15 years. I’ve seen thousands of young people transform their lives here—earning diplomas, learning trades, and gaining real-world experience that benefits both them and our local community,” said Cassadaga Guardians of the Hill President Jake Brock. “Closing our center would take away critical opportunities from students and eliminate over 100 jobs in a rural area with few alternatives. We’re deeply grateful to Senator Schumer for his support in keeping Job Corps strong for future generations.”
    “The Delaware Valley Job Corps Center in Callicoon has been a valuable part of our community for nearly half a century, and any closure – even temporarily – will have devastating results in and around Sullivan County. Local young adults benefit from the skills training that the Center provides, and many of the over 100 employees live and shop in Sullivan County. We certainly will be harmed, economically and educationally, should that facility be shuttered,” said Sullivan County Manager Joshua A. Potosek.
    “The Delaware Valley Job Corps program has been a cornerstone of our community for nearly 50 years. By providing stable employment opportunities to local residents, it has made a meaningful contribution to the economic well-being of our region. Just as importantly, it has given our community the opportunity to positively impact the lives of thousands of young people, offering them the support, skills, and direction needed to build brighter futures. I am deeply concerned about the potential loss of these jobs and the far-reaching effects this would have on our local families and economy. The decision to shut down or scale back this program is short-sighted and overlooks the long-term value it provides—not only to the individuals it serves but to our entire community. I strongly urge that this decision be reversed and that full support be restored to the Delaware Valley Job Corps program,” said Sullivan County Legislator Catherine Scott.
    “The loss of the Oneonta Job Corps Academy would have a severe impact on our economy, our infrastructure, the capacity of our community services, and the quality of life in the City,” said Mark Drnek, Mayor of the City of Oneonta. “But beyond that, the closure of the Job Corps program, would be the retraction of a helping hand, and of the opportunity for hundreds of young men and women to pull themselves from poverty and place themselves on the very ladder of success that is the American Dream, in many cases providing precedent and role modeling to family, friends, and neighborhoods.”
    “Job corps gave me the opportunity to get my basic needs met (food, water, shelter and a stable environment), while giving me the opportunity to work on myself and the trajectory of my career. I would not be where I am today, without job corps,” said Cassadaga Job Corps Graduate Arlene Tariq.

    MIL OSI USA News

  • MIL-OSI New Zealand: Speech: Hon Andrew Hoggard to Federated Farmers at Fieldays

    Source: ACT Party

    ACT MP Hon Andrew Hoggard
    Federated Farmers Rural Advocacy Hub Speaking Engagement
     
    Wednesday 11 June, 11:30 am 

    Good morning, everyone. 

    It’s great to be back, and thank you for the opportunity to speak here today. 

    I’d like to start by acknowledging the significant effort that’s gone into organising this year’s Fieldays Rural Advocacy Hub. These events don’t happen without a lot of hard work behind the scenes, and it shows. 

    I also want to acknowledge Federated Farmers and the many other farmer-led organisations who work tirelessly to support and advocate for the sector. 

    As a dairy farmer and a former President of Federated Farmers, I know firsthand how important your work is. Whether it’s in the regions or on the national stage, you give voice to rural communities, bring practical solutions to the table, and stand up for the interests of farmers and growers across New Zealand. 

    This Government is firmly committed to backing you—by reducing costs, cutting unnecessary red tape, and strengthening frontline support. 

    When I spoke at Fieldays last year, interest rates were a massive challenge for rural New Zealand. Make no mistake, that was Wellington’s fault. It was the hangover from a Labour-led pandemic response that pumped out easy money without a productivity boost to match.

    Now we’ve reined in waste, got inflation back to the target range, and farmers are finally seeing real interest rates relief. We need to do more to cut the waste in Wellington, because the less resource the Government sucks up, the more is left over for people like you out in the real world trying to grow things. 

    Over the past year, we’ve made real progress on red tape. We’ve started delivering on our promise to fix the resource management system and reduce the regulatory burden. 

    Amending intensive winter grazing and stock exclusion rules. Pausing the rollout of freshwater farm plans while we make them more practical and affordable, and halting the identification of new Significant Natural Areas. 

    Right now, we’re consulting on a package of proposals aimed at streamlining or removing regulations that are holding the primary sector back. 

    Most critically, we are consulting on changes to the NPS Freshwater 2020. There are several options being put forward. Now, if I remove my Minister hat and put on my ACT Party hat, we need to be bold. By that I mean Te Mana o te Wai needs to go. Worrying about the Paris Accord, whilst still a concern, is a sideshow compared to the hard calls we need to make with regards to RMA reform and the NPS Freshwater.

    Make no mistake, as a Party we have no interest in taxing the most carbon efficient farmers in the world, having methane targets far in excess of what is needed to play our part, sending billions offshore to be carbon neutral, or turning the lights off in homes or businesses through misguided energy policies.

    But if you ask me what area of policy scares me the most for the future of New Zealand farming, it is resource management and freshwater policy.

    Te Mana o te Wai has caused confusion amongst councils, and I see that if left in place its current trajectory will likely lead towards co-governance for regional councils, not just in policy but consenting as well, and policies that are based on vague spiritual concepts, not clear and simple water science balanced with societal needs.

    This debate will undoubtedly be noisy, but farming groups need to advocate strongly for clear unambiguous language in the NPS, individual farmers need to submit on what they are seeing and the stress this concept has caused many of them with regards to consenting.

    At the Treaty Principles Bill second reading debate many coalition party MPs stated that the Bill was too general, too broad-brushed, and that we should just focus on ensuring that we don’t have unclear language and vague concepts in future bills and policies. Well I would suggest that this NPS Freshwater is a good test for those statements. You will see plenty of MPs here for the next few days playing farmer dress up, make sure you let them know you expect them to keep their word.

    Now, while I’m being a staunch ACT MP I also want to give a shout out to the Regulatory Standards Bill, for many of you undoubtedly are thinking, why should I care about something that sounds that boring.

    Real simple. If this Bill had been in place during my Feds presidency it would have made the job so much easier, as it would have highlighted some of the more impractical and stupid regulations that were dreamed up. Even if it didn’t make the politicians think twice, at least the system would have shone a spotlight on the issues. We are so lucky that Bernadette Hunt got on the Hosking show and was able to show up some of the more daft parts of the winter grazing regs and they got changed within days, but they shouldn’t have got that far. That’s what the Regulatory Standards Bill will hopefully show up.

    But also, government doesn’t just take away your hard-earned dollars through its fiscal policies. It also can take away your property rights through its regulatory policies, so this Bill will ensure that if those property rights are taken away then compensation should be forthcoming. This whole concept has complete distaste from the Left, and some lukewarm reception from everyone else but ACT. So, if more protection for property rights is something you want to see, make sure you put your case forward for it.

    Okay, back to being a Minister, if I can just highlight some of the other Government work that is going on that is relevant for farming.

    In the health and safety space, we’ve got Brooke van Velden leading reforms to get rid of over compliance, reduce paperwork, and make WorkSafe helpful, not harmful. I’m especially pleased about her work to protect landowners from liability when they allow recreational activities like horse trekking, hunting, or hiking on their land. It’s about a shift from fear to freedom, opening up land for maximum enjoyment and enhancing the Kiwi way of life. 

    We’re also keen to empower farmers on the conservation front. I believe farmers are natural environmentalists. We live off the land, so we have every incentive to care for it. Many of us work to maintain stands of native bush or wetland on our land. For too long, the approach has been to punish this work, with councils looking at your land and saying, “that looks pretty, in fact that natural area looks ‘significant’ and you’re going to lose your property rights over that.” It’s all stick and no carrot. I think farmers deserve real credit for their contributions to biodiversity, and I’ll have more to say about that at the Beef + Lamb stall tomorrow.

    In this year’s Budget, we announced a 20% funding increase to tackle the spread of wilding pines—a major win for our landscapes and productive land. 

    Another important change in this year’s Budget is Investment Boost—a major new tax incentive to encourage business investment, support economic growth, and lift wages. 

    If you’re a farmer, tradie, manufacturer, or run any business, this matters to you. 

    When you invest in new equipment, machinery, tools, vehicles, or technology—you’ll now be able to deduct 20% of that cost immediately from your taxable income. 

    It’s a straightforward way to help reduce your tax bill and support decisions that lift productivity and grow your business. 

    To put it simply, we’re backing your success. 

    We want to see a thriving primary sector that’s not weighed down by complexity, but supported to innovate, grow, and lead. 

    I want to thank Federated Farmers, and many of you here, for the constructive role you’ve played in helping shape these changes. Your feedback is vital to making sure the final rules are workable, sensible, and fit for purpose. 

    Thank you again for the chance to be here, and for everything you do to keep this sector moving forward.

    All the best for a successful and enjoyable Fieldays. 

    Thank you.  

    MIL OSI New Zealand News

  • MIL-OSI USA: CFTC, SEC Further Extend Form PF Amendments Compliance Date

    Source: US Commodity Futures Trading Commission

    CFTC, SEC Further Extend Form PF Amendments Compliance Date | CFTC

    /PressRoom/PressReleases/9085-25
    Skip to main content

    June 11, 2025

    WASHINGTON, D.C. — The Commodity Futures Trading Commission, together with the Securities and Exchange Commission, extended the compliance date for the amendments to Form PF that were adopted February 8, 2024. The compliance date for these amendments, which was June 12, 2025, has been extended to October 1, 2025. The release provides that Form PF filers should continue to file the current version of Form PF until the date the release is published in the Federal Register.
    Form PF is the confidential reporting form for certain SEC-registered investment advisers to private funds, including those that also are registered with the CFTC as commodity pool operators or commodity trading advisers. This extension will provide more time for filers to program and test for compliance with these amendments.

    -CFTC-

    MIL OSI USA News

  • MIL-OSI: Currency Exchange International Reports Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 11, 2025 (GLOBE NEWSWIRE) — Currency Exchange International, Corp. (the “Group” or “CXI”) (TSX: CXI; OTCQX: CURN), today reported net income of $1.98 million for the second quarter of 2025, 291% higher than the prior year (all figures are in U.S. dollars except where otherwise indicated). This 2025 reported net income reflected $2.7 million net income from continuing operations and a net loss of $0.7 million from Exchange Bank of Canada, the Company’s Canadian subsidiary which was classified as discontinued operations effective the second quarter of 2025. These results include restructuring charges of $0.2 million, pre-tax, related to discontinued operations in Canada and certain one-time charges of $0.1 million, pre-tax. Excluding these items, the Group’s adjusted net income1 increased by 18% compared to the prior year and adjusted diluted earnings per share1 (“EPS”) was 24% higher than the prior year. The completed condensed interim consolidated financial statements and management’s discussion and analysis (“MD&A”) can be found on the Group’s SEDAR profile at www.sedarplus.ca.

    Q2, 2025
    Reported Results
    EBITDA $4.9 million
    Up 10% YoY
    Net Income $1.98 million
    Up 291% YoY
    Diluted EPS $0.31
    Up 288% YoY
    Annualized ROE 5%
    Down 50% YoY
    Q2, 2025
    Adjusted Results1
    EBITDA1$5.1 million
    Up 15% YoY
    Net Income1$2.3 million
    Up 18% YoY
    Diluted EPS1$0.36
    Up 24% YoY
    Annualized ROE112%
    Flat YoY

    Below is a reconciliation of reported results to adjusted results based on non-recurring items:

      Three-month
    period ended
    April 30, 2025
    Three-month
    period ended
    April 30, 2024
    Six-month
    period ended

    April 30, 2025
    Six-month
    period ended
    April 30, 2024
    Reported results $ $ $ $
    EBITDA 4,901,810 4,470,061 8,755,560 7,755,158
    Group net income 1,983,025 506,522 2,795,555 1,356,397
    Pre-tax adjusting items        
    Specified item: Restructuring charges 229,404 229,404
    Specified item: Advisory costs* 145,452 425,513
    Specified item: Deferred tax assets reversal* 1,427,600 1,429,850 
    Total pre-tax adjusting items 374,856 1,427,600 654,917 1,429,850 
    Impact of income tax (72,073) (80,647)
    Adjusted results**        
    EBITDA 5,131,214 4,470,061 8,984,964 7,755,158
    Group net income 2,285,808 1,934,122 3,369,825 2,786,247
    Group Diluted earnings per share        
    Reported 0.31 0.08 0.44 0.21
    Adjusted** 0.36 0.29 0.53 0.42

    *These adjustments are reported within the results from discontinued operations.

    **These are non-GAAP financial measures and ratios. For further details, refer to the key performance and non-GAAP financial measures section below.

    Total revenue was 3% lower than the prior year due to a decline in consumer demand for foreign currency as travel activity tapered during the current quarter. Although revenue declined, the Company’s net income for the second quarter rose compared to the same quarter last year, primarily due to the favorable impact of a weaker U.S. Dollar on the revaluation of foreign currency banknote holdings. The Group’s capital position remained robust, and liquidity was strong with $81.2 million in total equity and $60.4 million in net working capital as of April 30, 2025 ($79.4 million and $55.9 million as of October 31, 2024, respectively). All reported amounts are based on the Group’s condensed interim consolidated financial statements presented in compliance with International Accounting Standard 34 Interim Financial reporting, unless otherwise noted.

    On February 18, 2025, the Group announced its decision to cease the operations of its wholly owned subsidiary, Exchange Bank of Canada. This strategic decision and operational plan for restructuring were communicated to all staff of EBC on February 19, 2025. Following the cessation of operations, the Bank intends to apply to the Minister of Finance in Canada to discontinue from the Bank Act. The application to discontinue is expected to be made in the fourth quarter of 2025, with the actual discontinuance of the Bank being subject to receipt of all necessary regulatory approvals. Following the Group’s decision, management has commenced implementation of the restructuring and planned discontinuance of the Bank. Management anticipates that certain operating expenses and personnel costs, that are currently shared with EBC, will be 100% borne by the continuing operations of CXI, subsequent to the exit of EBC from Canada, and the current annualized estimate of these costs is approximately $3 million after tax. In the second quarter of 2025, Exchange Bank of Canada was classified as a discontinued operation in the Group’s condensed interim consolidated financial statements.

    On May 20, 2025, CXI upgraded its U.S. securities listing with the Company’s shares commencing trading on the OTCQX Best Market under the symbol CURN.

    Randolph Pinna, CEO of the Group, stated, “The second quarter showed continued growth in the payments business, while with the current political and economic uncertainties, international travel activity to and from the United States decreased banknote revenues. CXI’s diversified business model in the United States allows for continued new client growth in the payments business complemented by successful multi-channel banknotes offerings for both our U.S. Financial Institutions in branch or online as well as the Direct-to-Consumer customer offerings through online, agent and physical branch locations. CXI’s management team and I remain committed to executing CXI’s strategic plan which is focused on revenue and earnings growth as well as the return on capital and creating value for our shareholders resulting from providing leading FX technology and transaction processing solutions”.

    Financial Highlights for the three-month periods ended April 30, 2025 and 2024:

    • Revenue decreased by 3% or $0.5 million to $15.9 million compared to $16.4 million. Banknotes revenue decreased by 5% or $0.6 million over the prior period while Payments revenue increased by 5% or $0.1 million;
    • Reported EBITDA increased by 10% or $0.4 million to $4.9 million from $4.5 million. Adjusted EBITDA2 was $5.1 million, 15% higher than the prior period;
    • Reported Group net income was $1.98 million, a 291% increase compared to the prior period. Adjusted Group net income2 increased 18% or $0.4 million to $2.3 million from $1.9 million in the prior period;
    • Reported earnings per share were $0.32 and $0.31 on a basic and fully diluted basis, respectively, compared to the prior year’s reported earnings per share of $0.08 on both a basic and fully diluted basis. Adjusted earnings per share2 were $0.37 and $0.36 on a basic and fully diluted basis, respectively, compared to the prior year’s adjusted earnings per share of $0.30 and $0.29; and
    • The Group maintained a strong financial position, with net working capital of $60.4 million and total equity of $81.2 million as of April 30, 2025.

    Financial Highlights for the six-month periods ended April 30, 2025 and 2024:

    • Revenue increased by 3% or $0.8 million to $31.3 million compared to $30.5 million. Payments revenue increased by 11% or $0.5 million and Banknotes revenue increased by 1% or $0.3 million over the prior period;
    • Reported EBITDA increased by 13% or $1.0 million to $8.8 million from $7.8 million. Adjusted EBITDA3 was $9.0 million, 16% higher than the prior period;
    • Reported Group net income was $2.8 million, a 106% increase compared to the prior period. Adjusted Group net income3 increased 21% or $0.6 million to $3.4 million from $2.8 million in the prior period; and
    • Reported earnings per share were $0.45 and $0.44 on a basic and fully diluted basis, respectively, compared to the prior year’s reported earnings per share of $0.21 on both a basic and fully diluted basis. Adjusted earnings per share3 $0.54 and $0.53 on a basic and fully diluted basis, respectively, compared to the prior year’s adjusted earnings per share of $0.44 and $0.42.

    Corporate Highlights for the three-month period ended April 30, 2025:

    • The Group continued its growth in the direct-to-consumer market through its network of company-owned branch locations, agent relationships, and in the majority of states where it operates its OnlineFX platform. During the second quarter of 2025, the Group added the State of Mississippi to its OnlineFX platform network, now operating in 45 states and the District of Columbia;
    • The Group increased its banknotes market penetration into the financial institutions sector in the United States with the addition of 124 new clients in the second quarter of 2025; and
    • The Group continued to grow its Payments product line benefiting from the recent investments in core banking platform integrations which enabled the Group to expand its reach and increase its volumes in the United States. The Group processed 45,788 payment transactions in the second quarter compared to 37,781 payment transactions in the prior period.

    Selected Financial Data

    The following table summarizes the performance of the Group over the last eight fiscal quarters:

      Results of Continuing Operations – Reported Group Net Results – Reported Group Net Results- Adjusted3
    Quarterly Results Revenue Net income Earnings per
    share (diluted)
    Net income
    (loss)
    Earnings/(loss)
    per share
    (diluted)
    Net income Earnings per
    share (diluted)
      $ $ $ $ $ $ $
    Q2 2025 15,865,150 2,674,849 0.42 1,983,025 0.31 2,285,808 0.36
    Q1 2025 15,450,861 1,694,672 0.26 812,530 0.12 1,092,648 0.17
    Q4 2024 18,460,390 3,313,852 0.50 (2,817,897) (0.45) 2,780,445 0.42
    Q3 2024 19,961,122 5,122,815 0.77 3,935,350 0.59 4,644,984 0.69
    Q2 2024 16,358,796 2,731,629 0.41 506,522 0.08 1,934,122 0.29
    Q1 2024 14,141,018 2,020,274 0.30 849,874 0.13 849,874 0.13
    Q4 2023 18,742,856 3,467,825 0.52 2,303,822 0.34 2,303,822 0.34
    Q3 2023 19,416,155 4,650,604 0.69 4,056,478 0.60 4,056,478 0.60

    Earnings Conference Call Details

    CXI plans to host a conference call on Thursday, June 12, 2025, at 8:30 AM (EST).

    To participate in or listen to the call, please dial the appropriate number:

    Toll Free – North America: (+1) 800 717 1738

    Conference ID Number: 21262

    About Currency Exchange International, Corp.

    Currency Exchange International is in the business of providing comprehensive foreign exchange technology and processing services for banks, credit unions, businesses, and consumers in the United States and select clients globally. Primary products and services include the exchange of foreign currencies, wire transfer payments, Global EFTs, and foreign cheque clearing. Wholesale customers are served through its proprietary FX software applications delivered on its web-based interface, www.cxifx.com (“CXIFX”), its related APIs with core banking platforms, and through personal relationship managers. Consumers are served through Group-owned retail branches, agent retail branches, and its e-commerce platform, order.ceifx.com (“OnlineFX”).

    Contact Information

    For further information please contact:
    Bill Mitoulas
    Investor Relations
    (416) 479-9547
    Email: bill.mitoulas@cxifx.com
    Website: www.cxifx.com

    KEY PERFORMANCE AND NON-GAAP FINANCIAL MEASURES

    The Group measures and evaluates its performance, as presented in this document, using a number of financial metrics and measures, such as adjusted net income, which do not have standardized meanings under generally accepted accounting principles (GAAP) and may not be comparable to other companies. The Group’s management believes that these measures are more reflective of its operating results and provide the readers of this document with a better understanding of management’s perspective on the performance. These measures enhance the comparability of our financial performance for the current year with the corresponding period in the prior year. For further information, including a reconciliation, refer to key performance and non-GAAP financial measures in the MD&A.

    CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

    This press release includes forward-looking information within the meaning of applicable securities laws. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management’s expectations with respect to, among other things, demand and market outlook for wholesale and retail foreign currency exchange products and services, future growth, the timing and scale of future business plans, results of operations, performance, and business prospects and opportunities. Forward-looking statements are identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “preliminary”, “project”, “will”, “would”, and similar terms and phrases, including references to assumptions.

    Forward-looking information is based on the opinions and estimates of management at the date such information is provided, and on information available to management at such time. Forward-looking information involves significant risks, uncertainties and assumptions that could cause the Group’s actual results, performance, or achievements to differ materially from the results discussed or implied in such forward-looking information. Actual results may differ materially from results indicated in forward-looking information due to a number of factors including, without limitation, the competitive nature of the foreign exchange industry; evolving worldwide geopolitical developments and pandemics including COVID-19 all of which may continue to have a material adverse effect on global economic activity, and may continue to result in volatility and disruption to global supply chains, operations, mobility of people and the financial markets which impact personal and business travel, tourism and factors relevant to the Group’s business; global economic deterioration negatively impacting tourism in general; currency exchange risks, the need for the Group to manage its planned growth, the effects of product development and the need for continued technological change, protection of the Group’s proprietary rights, the effect of government regulation and compliance on the Group and the industry in which it operates, network security risks, the ability of the Group to maintain properly working systems, theft and risk of physical harm to personnel, reliance on key management personnel; volatile securities markets impacting security pricing in a manner unrelated to operating performance and impeding access to capital or increasing the cost of capital as well as the factors identified throughout this press release and in the section entitled “Risks and Uncertainties” of the Group’s Management’s Discussion and Analysis for the three and six-month periods ended April 30, 2025 and 2024. Forward-looking information contained in this press release represents management’s expectations as of the date hereof (or as of the date such information is otherwise stated to be presented) and is subject to change after such date. The Group disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

    The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this press release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this press release.


    1 These are non-GAAP financial measures and ratios and are not standardized financial measures under IFRS, they are based on management-determined non-recurring items. For further information, refer to the key performance and non-GAAP financial measures section on page 4 of this document.
    2 These are non-GAAP financial measures and ratios and are not standardized financial measures under IFRS, they are based on management-determined non-recurring items. For further information, refer to the key performance and non-GAAP financial measures section on page 4 of this document.
    3 These adjusted results are non-GAAP financial measures and ratios and are not standardized financial measures under IFRS, they are based on management-determined non-recurring items. For further information, refer to the key performance and non-GAAP financial measures section on page 4 of this document.

    The MIL Network

  • MIL-OSI Submissions: Economy – US inflation cools again – but Fed won’t be rushed to cut rates: deVere CEO

    Source: deVere Group

    June 11 2025 – Markets are eyeing the Federal Reserve with fresh optimism after US inflation (CPI) data came in just below expectations for the fourth straight month – but investors should not expect a rate cut just yet, warns the CEO of one of the world’s largest independent financial advisory and asset management organizations.

    The May Consumer Price Index (CPI) showed annual inflation at 2.4%, matching forecasts but undershooting April’s 2.5%.

    Core inflation eased slightly to 2.8% year-on-year, versus the expected 2.9%. Both headline and core readings point to gradual disinflation – but the Fed is unlikely to move quickly, says deVere.

    Nigel Green, CEO of deVere Group, comments: “Inflation is cooling – but not decisively – and with tariffs now feeding back into prices while the real economy is slowing, the Fed finds itself boxed in.

    “We expect the central bank to stay on hold next week and likely through the summer. Even if markets begin pricing in cuts again, September remains uncertain.”

    The inflation data follows a resilient US jobs report last Friday, which showed continued tightness in the labour market despite signs of economic softening.

    “Wage growth is still strong. Consumer demand is still running. But at the same time, business investment is faltering and debt issuance is surging. It’s a precarious balance,” says the deVere chief executive.

    He notes that while markets may interpret the below-forecast inflation numbers as a green light for easing, it is premature.

    “Today’s data is helpful – but not decisive. The Fed wants to see a consistent, broad-based decline in inflation across services and goods before cutting. We’re not there yet.”

    In the meantime, tariffs are acting as a counterforce to disinflation, especially as a federal appeals court ruled Tuesday that President Trump’s “Liberation Day” tariffs could stay in force while it considers whether the White House has the legal authority to impose the levies.

    “Tariffs are inflationary by design. They’re now pushing against the Fed’s disinflation goal at exactly the wrong moment – just as growth indicators begin to crack,” warns Nigel Green.

    Against this backdrop, the deVere CEO urges investors to reassess portfolios urgently.

    “Markets are walking a tightrope. Betting heavily on near-term rate cuts could be costly. Investors should remain positioned for policy stagnation, not relief.”

    He adds: “Sectors with real pricing power and cost flexibility – such as automation, energy, and selected infrastructure – remain attractive. At the same time, the debt-heavy, rate-sensitive parts of the market are at risk.”

    deVere also continues to flag concerns in the bond market. “With US debt issuance at record levels and foreign demand weakening, yields are likely to stay elevated. That has major implications for asset pricing and refinancing risk across the economy,” says Nigel Green.

    The firm advises clients not to stay in cash. “Opportunities exist, especially globally. But you have to be active. Sitting on the sidelines might feel safe, but inflation still erodes value, and the volatility is creating entry points.”

    Looking ahead to the second half of the year, deVere expects sentiment to oscillate between hopes for easing and fears of stagnation.

    “Markets want a story. Today’s CPI gave them a narrative of progress. But the Fed won’t cut on sentiment. It will wait for data – and that data remains mixed.”

    He concludes: “The inflation fight isn’t over. The economy is showing cracks. Tariffs are complicating everything. The Fed won’t be rushed, but the markets will keep guessing. Our message: don’t guess. Get positioned correctly, now.”

    deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.

    MIL OSI – Submitted News

  • MIL-OSI USA: Statement of Commissioner Kristin N. Johnson on the Extension of Compliance Date for Form PF

    Source: US Commodity Futures Trading Commission

    Today, the Commodity Futures Trading Commission (CFTC) and the Securities Exchange Commission voted to extend the effective compliance date for relevant registrants to comply with the revised Form PF. The Joint Final Rule by the Commissions was adopted over a year ago on February 8, 2024. As Securities Exchange Commissioner Caroline Crenshaw noted in her statement during the SEC’s public meeting today, registrants have had a significant window of time to prepare for tomorrow’s compliance deadline. The issues raised indicate potential technology-based concerns as well as challenges with validation, testing, and ensuring effective capabilities for timely and accurate reporting of requested information. These issues should have been fully addressed prior to today. In the least, the issues should have been presented to the Commissions before the eleventh hour to enable proper investigation and resolution.
    Notwithstanding grave concerns, I have moved the request for an extension. In part, my decision is intended to demonstrate the strength and value of bi-partisan Commissions as well as our ability to reach the best outcomes for our markets, our economy and our nation. I am hopeful that the Commissions leadership’ commitments to democratic processes continue to prevail and our regulation continues to protect investors, encourage market integrity and stability, and foster and promote the deepest, most liquid markets in the world.

    MIL OSI USA News

  • MIL-OSI USA: Wyden, Colleagues Reintroduce Bill to Protect Reproductive and Sexual Health Data

    US Senate News:

    Source: United States Senator Ron Wyden (D-Ore)

    June 11, 2025

    Washington D.C.— U.S. Senator Ron Wyden, D-Ore., said today he has joined colleagues to reintroduce the landmark My Body, My Data Act, which would create a new national standard to protect reproductive and sexual health data. 

    “Anti-abortion Republicans are restricting abortion state-by-state, and they’re not going to stop until they get a national abortion ban,” Wyden said. “The way MAGA prosecutors and politicians enforce their cruel assault on women’s rights is by going after their privacy and abusing their personal data to track down and punish women for their personal reproductive health choices. Congress has to draw a line. I’m proud to partner with Rep. Jacobs and Sen. Hirono on the My Body, My Data Act to set the toughest protections ever for reproductive health data.”

    The weaponization of private reproductive and sexual health data has increased in recent years, especially since the U.S. Supreme Court overturned Roe v. Wade. In 2017, police used web searches and text messages to charge Latice Fisher with second-degree murder after a stillbirth at home. Facebook messages were also a key piece of evidence in an abortion-related investigation of a Nebraska mother and daughter in 2022. A data broker shared cell phone and geo-location data with an anti-abortion political group that then dispensed disinformation about reproductive health to people who visited 600 abortion clinics in 48 states. Earlier this year, police investigated a Pennsylvania mother and daughter after receiving text messages about her pregnancy.

    Specifically, the My Body, My Data Act would:

    • Limit the personal reproductive and sexual health data that can be collected, retained, used, or disclosed to only what is needed to deliver a product or service.
    • Protect personal data collected by entities not currently covered under HIPAA, including data collected by apps, cell phones, and search engines.
    • Require regulated entities to develop and share a privacy policy outlining how they collect, retain, use, and disclose personal reproductive health information.
    • Direct the Federal Trade Commission (FTC) to enforce the law and to develop rules to implement the statute.
    • Create a private right of action to allow individuals to hold regulated entities accountable for violations. 
    • Provide additional consumer protections, including the right of an individual to access, delete, or correct their personal data if they choose to.

    In addition to Wyden, the legislation was led by U.S. Senator Mazie Hirono, D-Hawaii., and U.S. Representative Sara Jacobs, D-Calif. 

    The legislation is supported by Center for Democracy and Technology, Electronic Privacy Information Center, Electronic Frontier Foundation, National Partnership for Women & Families, Planned Parenthood Federation of America, Reproductive Freedom for All, Physicians for Reproductive Health, National Women’s Law Center, National Abortion Federation, Catholics for Choice, National Council for Jewish Women, Power to Decide, United for Reproductive & Gender Equity, Indivisible, Guttmacher, and National Network of Abortion Funds, All* Above All.

    “Everyone deserves the freedom to make personal decisions about their bodies, lives, and health without the fear of surveillance or criminalization. The ‘My Body, My Data Act’ is a critical step toward protecting our most private health information—including abortion and pregnancy care—from being weaponized against us. We’re grateful to Representative Jacobs and Senator Hirono for their leadership in introducing this bold federal action. We are committed to working with them to fight back as Trump and Republicans continue to attack our fundamental freedoms,” said Mini Timmaraju, CEO and President of Reproductive Freedom for All.

    “In a chaotic and dangerous post-Roe landscape, no one seeking an abortion should have to fear that their health information will be used to criminalize them,” said Jocelyn Frye, President of National Partnership for Women & Families. “Many women, including many women of color and those with low incomes, already face over-surveillance and heightened barriers to accessing abortion care. This bill is an important step in protecting data privacy surrounding abortion care, and we thank Rep. Jacobs and Senators Hirono and Wyden for their leadership on this issue.”

    “Americans’ health data is constantly used in ways that they do not expect. The My Body, My Data Act protects the privacy and safety of people seeking reproductive care but putting strict limits on when reproductive and sexual health information can be collected and how it can be used. Health care and privacy go hand in hand, and EPIC commends Rep. Jacobs for introducing this important bill,” said Caitriona Fitzgerald, Deputy Director, Electronic Privacy Information Center (EPIC).

    “It’s been nearly three years since the Supreme Court decision in Dobbs v. Jackson Women’s Health Organization, and we continue to see states hostile to reproductive rights seeking access to health data. The My Body My Data Act contains critical privacy protections that limit the data companies collect and retain about their customers while providing people clear ways to access and delete their health data when they want. When companies don’t collect and keep people’s health data, they won’t have anything to turn over if folks come asking for it,” said Andrew Crawford, Senior Counsel, Center for Democracy & Technology.

    “As a physician, I know how critical it is for the personal information of the patients I care for to be protected. Too often, data related to reproductive health care is used to target and criminalize people seeking essential care. I am thankful to Senators Wyden and Hirono and Representative Jacobs for introducing the My Body, My Data Act of 2025. Ensuring the health and well-being of patients includes protecting the privacy of personal reproductive health information,” said Dr. Ghazaleh Moayedi, Physicians for Reproductive Health Board Chair and OB/GYN in Texas. 

    MIL OSI USA News