NewzIntel.com

    • Checkout Page
    • Contact Us
    • Default Redirect Page
    • Frontpage
    • Home-2
    • Home-3
    • Lost Password
    • Member Login
    • Member LogOut
    • Member TOS Page
    • My Account
    • NewzIntel Alert Control-Panel
    • NewzIntel Latest Reports
    • Post Views Counter
    • Privacy Policy
    • Public Individual Page
    • Register
    • Subscription Plan
    • Thank You Page

Category: Business

  • MIL-OSI New Zealand: Prolific shoplifter sentenced to two years’ imprisonment

    Source: New Zealand Police

    A prolific Tauranga shoplifter has been sentenced to two years in prison after being convicted of 37 shoplifting charges dating back to 2024.

    Police Commissioner Richard Chambers said it was the result of outstanding investigative work by an officer in the Tauranga Retail Crime Unit.

    The officer began his investigation based on a single shoplifting report that came through Auror, with no offender identified and no real lines of enquiry.

    From that single report, the officer was able to build a picture of a serial shoplifter, who was offending on an almost daily basis.

    A 45-year-old woman was arrested in February 2025, and charged with offending dating back to September 2024.  She appeared in Tauranga District Court on 21 May and was sentenced to two years’ imprisonment.

    “This was the result of meticulous and painstaking work by the officer in the Tauranga Retail Crime Unit,” Commissioner Chambers said.

    “The exceptional work of the officer has meant a serial shoplifter has been held to account for her actions. It highlights the importance of monitoring and following up on what might initially seem like low-level offending.

    “We know how devastating this type of offending is for our retail community, and holding people to account for shoplifting and retail theft remains a priority for NZ Police.

    “The convictions in this case were a result of not only outstanding investigative work, but also of the great rapport that the officer has built with local retailers.

    “Each region is different and policing Districts much continue to have the leeway to decide how their resources are best used, and what their priorities need to be.

    “However, the case does highlight just how effective the dedicated retail crime unit in Tauranga can be. 

    “It provides a good model for other Districts to consider when deciding how to tackle retail crime.”

    ENDS

    Issued by Police Media Centre.

    MIL OSI New Zealand News –

    June 4, 2025
  • MIL-OSI: TruGolf to Paricipate in the “2025 Virtual Tech Conference: Discover the Innovations Reshaping Tomorrow” Conference Presented by Maxim Group LLC on Wednesday, June 4th at 3:00 PM EDT

    Source: GlobeNewswire (MIL-OSI)

    Salt Lake City, Utah, June 03, 2025 (GLOBE NEWSWIRE) — TruGolf Holdings, Inc. (NASDAQ: TRUG), a leading golf technology company, announced today that Brenner Adams, TruGolf’s Chief Growth Officer will present at the “2025 Virtual Tech Conference: Discover the Innovations Reshaping Tomorrow,” presented by Maxim Group LLC, tomorrow, June 4th at 3:00 PM EDT.

    The Conference will be live on M-Vest. To attend, follow this link to register for this virtual event. https://m-vest.com/events/tmt-06032025

    About TruGolf Holdings

    TruGolf is a golf technology company, committed to making golf, easy. From innovative uses for AI to build content and enhance its image and spatial analysis, to gamified golf improvement plans, TruGolf is an industry leader in the growing technological revolution in the sport of golf. Since its founding, TruGolf has redefined what is possible in golf through technology. TruGolf’s suite of Hardware, Software, and Web Products make it easier to Play, Improve, and Enjoy the game of golf.

    Forward-Looking Statements

    Some of the statements in this release are forward-looking statements, which involve risks and uncertainties. Forward-looking statements include, without limitation, whether the Company’s compliance plan will be accepted by Nasdaq and the Company’s expected future cash needs.  Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. The Company has attempted to identify forward-looking statements by terminology including ”believes,” ”estimates,” ”anticipates,” ”expects,” ”plans,” ”projects,” ”intends,” ”potential,” ”may,” ”could,” ”might,” ”will,” ”should,” ”approximately” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors. Any forward-looking statements contained in this release speak only as of its date. The Company undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting the Company is contained under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC, which are available on the SEC’s website, www.sec.gov.

    For more information about our products and upcoming innovations, please visit TruGolf.com.

    Media Contacts:

    TruGolf: Michael Bacal: Phone: 917-886-9071; mbacal@darrowir.com Web: TruGolf.com LinkedIn: @TruGolf

    The MIL Network –

    June 4, 2025
  • MIL-OSI: Kayne Anderson Energy Infrastructure Fund Provides Unaudited Balance Sheet Information and Announces Its Net Asset Value and Asset Coverage Ratios as of May 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, June 03, 2025 (GLOBE NEWSWIRE) — Kayne Anderson Energy Infrastructure Fund, Inc. (the “Company”) (NYSE: KYN) today provided a summary unaudited statement of assets and liabilities and announced its net asset value and asset coverage ratios under the Investment Company Act of 1940 (the “1940 Act”) as of May 31, 2025.

    As of May 31, 2025, the Company’s net assets were $2.3 billion, and its net asset value per share was $13.79. As of May 31, 2025, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 740% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 530%.

    STATEMENT OF ASSETS AND LIABILITIES
    MAY 31, 2025   // (UNAUDITED)
     
          (in millions)  
    Investments   $ 3,184.4  
    Cash and cash equivalents     12.1  
    Receivable for securities sold     2.8  
    Accrued income     1.6  
    Other assets     1.0  
    Total assets     3,201.9  
         
    Notes     388.2  
    Unamortized notes issuance costs     (2.5 )
    Preferred stock     153.6  
    Unamortized preferred stock issuance costs     (1.2 )
    Total leverage     538.1  
         
    Payable for capital shares purchased     2.6  
    Other liabilities     19.8  
    Current tax liability, net     12.6  
    Deferred tax liability, net     297.1  
    Total liabilities     332.1  
         
    Net assets   $ 2,331.7  
     

    The Company had 169,126,038 common shares outstanding as of May 31, 2025.

    Long-term investments were comprised of Midstream Energy Companies (94%), Other (4%) and Utility Companies (2%).  

    The Company’s ten largest holdings by issuer at May 31, 2025 were:

        Amount
    (in millions)
      % Long Term
    Investments
    1. The Williams Companies, Inc. (Midstream Energy Company) $ 359.7   11.3%  
    2. Energy Transfer LP (Midstream Energy Company)   319.4   10.0%  
    3. Enterprise Products Partners L.P. (Midstream Energy Company)   313.6   9.8%  
    4. MPLX LP (Midstream Energy Company)   308.6   9.7%  
    5. Cheniere Energy, Inc. (Midstream Energy Company)   266.9   8.4%  
    6. Kinder Morgan, Inc. (Midstream Energy Company)   215.4   6.8%  
    7. ONEOK, Inc. (Midstream Energy Company)   186.4   5.9%  
    8. TC Energy Corporation (Midstream Energy Company)   167.7   5.3%  
    9. Targa Resources Corp. (Midstream Energy Company)   152.5   4.8%  
    10. Western Midstream Partners, LP (Midstream Energy Company)   120.6   3.8%  
             

    Portfolio holdings are subject to change without notice. The mention of specific securities is not a recommendation or solicitation for any person to buy, sell or hold any particular security. You can obtain a complete listing of holdings by viewing the Company’s most recent quarterly or annual report.

    Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended, whose common stock is traded on the NYSE. The Company’s investment objective is to provide a high after-tax total return with an emphasis on making cash distributions to stockholders. KYN intends to achieve this objective by investing at least 80% of its total assets in securities of Energy Infrastructure Companies. See Glossary of Key Terms in the Company’s most recent quarterly or annual report for a description of these investment categories and the meaning of capitalized terms.

    This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of any securities in any jurisdiction in which such offer or sale is not permitted. Nothing contained in this press release is intended to recommend any investment policy or investment strategy or consider any investor’s specific objectives or circumstances. Before investing, please consult with your investment, tax, or legal adviser regarding your individual circumstances.

    CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This communication contains statements reflecting assumptions, expectations, projections, intentions, or beliefs about future events. These and other statements not relating strictly to historical or current facts constitute forward-looking statements as defined under the U.S. federal securities laws. Forward-looking statements involve a variety of risks and uncertainties. These risks include but are not limited to changes in economic and political conditions; regulatory and legal changes; energy industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in detail in the Company’s filings with the SEC, available at www.kaynefunds.com or www.sec.gov. Actual events could differ materially from these statements or our present expectations or projections. You should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. Kayne Anderson undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Company’s investment objectives will be attained.

    Contact investor relations at 877-657-3863 or cef@kayneanderson.com.

    The MIL Network –

    June 4, 2025
  • MIL-OSI: Acceleware Announces Board Appointments

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, June 03, 2025 (GLOBE NEWSWIRE) — Acceleware® Ltd. (“Acceleware” or the “Company”) (TSX-V: AXE), a leading innovator of transformative technologies using radio frequency (RF) technology targeting industrial process heat in the critical minerals and enhanced oil production industries, announces the strategic appointment of two seasoned energy executives to the Board of Directors (the “Board”), and that two original members of the Board are stepping down. The new Board appointees, with their significant industry experience and knowledge, will be instrumental in assisting management in implementing a new strategic plan.

    Board Announcement:

    The Company announces the appointment of Peter (Pete) Sametz P. Eng. ICD.D as Executive Chairman of the Board of Directors and the appointment to the Board of Merle Johnson P. Eng. MBA, ICD.D, both effective June 3, 2025. Mr. Bohdan (Don) Romaniuk, Chairman of the Board, and Dr. Peter Neweduk, Director, have stepped down from the Board after over 19 years of service. Mr. Sametz and Mr. Johnson, whose appointments will fill the vacancies left by Mr. Romaniuk and Dr. Neweduk, will both also serve on the audit committee, with Mr. Johnson appointed as Chair of the Audit Committee.

    Said Mr. Romaniuk, “I am thrilled that Mr. Sametz has agreed to serve as Executive Chair of Acceleware’s board. Acceleware’s technology offers outstanding potential. I wish him, and the Company all the best.”

    Added Geoff Clark, Acceleware CEO, “On behalf of Acceleware, our shareholders, and our employees, I would like to extend our thanks to Don and Peter for their dedication and service over many years. Their efforts have been greatly appreciated – we’ve certainly had many successes along the way – and they’ve also helped see us through many challenges. We wish them all the best.”

    Both Mr. Romaniuk and Dr. Neweduk will remain available to provide support and knowledge transfer for as long as is required to ensure an efficient Board transition.

    “I am extremely pleased to welcome Pete and Merle to the Acceleware board,” said Mr. Clark. “Acceleware is implementing a new and transformative strategic plan intended to advance the business and create significant value for shareholders. Having Pete join us as Executive Chair and Merle as Director and Audit Committee Chair to drive development and execution of this strategy is invaluable.”

    Mr. Sametz’ past several years have focused on change management and corporate restructuring. He has extensive experience in the energy sector at both the senior executive and board levels, managing growth from startup to intermediate status. He is recognized as a leader in innovation and an advocate for environmental responsibility in the energy industry. He has been a director of four public companies, as well as a volunteer in the community and with industry organizations.

    Mr. Johnson was the CEO of Connacher Oil and Gas from late 2015 up until his 2024 retirement and was the longest serving executive in the company’s history. Prior to Connacher, Mr. Johnson worked for EnCana (now Cenovus) on its Christina Lake and Senlac Projects and for IMC Global (now The Mosaic Company) at Belle Plaine. Belle Plaine’s potash solution mining technique was the inspiration for SAGD technology. Mr. Johnson is a member of the Metis Nation of Alberta.

    The appointments of Mr. Sametz and Mr. Johnson remain conditional on TSX Venture Exchange review pursuant to Policy 3.1.

    About Acceleware:

    Acceleware is an advanced electromagnetic (EM) heating company with highly scalable EM solutions for large industrial applications. The Company’s solutions provide an opportunity to electrify and decarbonize industrial process heat applications while reducing costs.

    Acceleware’s RF XL is a patented low-cost, low-carbon EM thermal production technology for heavy oil that is materially different from any enhanced recovery technique used today. The Company is also working with a consortium of world-class potash partners on a pilot project using its patented and field proven Clean Tech Inverter (CTI) to decarbonize drying of potash ore and other critical minerals. Acceleware is actively developing partnerships for EM heating for other industrial process heat applications.

    Acceleware is a public company listed on Canada’s TSX Venture Exchange under the trading symbol “AXE”.

    Cautionary Statements

    This news release contains forward-looking statements and/or forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities laws. When used in this release, such words as “will”, “anticipates”, believes”, “intends”, “expects” and similar expressions, as they relate to Acceleware, or its management, are intended to identify such forward-looking statements. Such forward-looking statements reflect the current views of Acceleware with respect to future events, and are subject to certain risks, uncertainties and assumptions. Many factors could cause Acceleware’s actual results, performance or achievements to be materially different from any expected future results, performance or achievement that may be expressed or implied by such forward-looking statements. Certain information and statements contained in this news release constitute forward-looking statements, which reflects Acceleware’s current expectations regarding future events, including, but not limited to the appointment of Mr. Sametz and Mr. Johnson to the Board, the development and execution of a new strategic plan, the Company’s ability to successfully execute that plan, and the impact of that plan on Acceleware’s business and shareholder value.

    Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the high degree of uncertainties inherent to feasibility and economic studies which are based to a significant extent on various assumptions; variations in commodity prices and exchange rate fluctuations; variations in cost of supplies and labour; lack of availability of qualified personnel; receipt of necessary approvals; availability of financing for technology and project development; uncertainties and risks with respect to developing and adopting new technologies; general business, economic, competitive, political and social uncertainties; change in demand for technologies to be offered by the Company; obtaining required approvals of regulatory authorities; ability to access sufficient capital from internal and external sources. For a more fulsome list of risk factors please see the Company’s December 31, 2024, year-end Management Discussion and Analysis (“MD&A”) available on SEDAR+ at www.sedarplus.ca.

    Management of the Company has included the above summary of assumptions and risks related to forward-looking statements provided in this release to provide shareholders with a more complete perspective on the Company’s current and future operations and such information may not be appropriate for other purposes. The Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements included in this news release should not be read as guarantees of future performance or results. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    For more information:
    Geoff Clark
    Tel: +1 (403) 249-9099
    geoff.clark@acceleware.com

    Acceleware Ltd.
    435 10th Avenue SE
    Calgary, AB, T2G 0W3
    Canada
    www.acceleware.com

    The MIL Network –

    June 4, 2025
  • MIL-OSI Global: Ukraine’s drone attacks on Russian airfields could derail Russia’s war efforts

    Source: The Conversation – Canada – By James Horncastle, Assistant Professor and Edward and Emily McWhinney Professor in International Relations, Simon Fraser University

    The drone attacks by Ukrainian Operation Spider’s Web forces on Russian airfields have called into question Russia’s supposed military strength.

    Russian authorities have acknowledged damage from the June 1 attacks — an unusual admission that suggests the strikes were probably effective, given Russia’s usual pattern of downplaying or denying the success of Ukrainian operations.

    The operation’s most significant target was the Belaya air base, north of Mongolia. Belaya, like the other bases targeted, is a critical component in the Russian Air Force’s strategic strike capabilities because it houses planes capable of long-range nuclear and conventional strikes.

    It’s also in Irkutsk, approximately 4,500 kilometres from the front lines in Ukraine.




    Read more:
    Ukraine drone strikes on Russian airbase reveal any country is vulnerable to the same kind of attack


    Ukraine’s ability to successfully strike Belaya — an attempted strike at the even more distant Ukrainka air base failed — probably won’t have much of a military impact on the war. But along with successful attacks on other Russian airfields and the strike at the Kerch Bridge in Crimea, Operation Spider Web’s successes could play a strategic role in the conflict.

    These attacks could shift what has become increasingly negative media coverage and public perception about Ukraine’s chances in the war over the last year. In a war of attrition, which the conflict in Ukraine has become, establishing a belief in victory is a pre-condition for success.

    Explosions hit the Kerch Bridge in Russia on June 3, 2025. (The Independent)

    Increased pessimism

    Policymakers and pundits, instead of recognizing their expectations of a Ukrainian victory in 2023 were unrealistic, have often declared that the war is unwinnable for Ukraine.

    This perspective was even more prevalent following United States President Donald Trump’s resumption of power in January 2025. In the Oval Office spat Trump had with Ukrainian President Volodymyr Zelenskyy in late February, he declared Ukraine did not “have the cards” to defeat Russia.

    This turned out to be false. Ukraine’s army may possess significantly less military hardware and fewer soldiers than Russia’s, but war is often a continuation of politics. Politically, Russia faces several issues that could derail its war efforts.

    Russian vulnerabilities

    Russia’s military capabilities are important to Russian nationalists, who make up Russian leader Vladimir Putin’s core constituency. Russian military forces have advanced along nearly all fronts in Ukraine over the last year.

    These advances, however, have largely been insignificant. Furthermore, they have emphasized Russia’s military weakness, which is an ongoing affront to Russian nationalists.

    Not only have Russian military advances over the last year not changed the war in a strictly military sense, but the pace of advance has been incredibly slow. Over the last year, Russian forces have captured 5,107 square kilometres of Ukrainian territory. This territory represents less than one per cent of Ukraine’s pre-war territory.

    In exchange for what amounts to negligible gains, Russian armed forces have suffered significant casualties.

    Both Russia and Ukraine carefully guard the number of casualties their forces have suffered in the war. The British Ministry of Defence, however, estimates that Russia will have suffered more than a million casualties in the war by the end of this month. The Russian casualty rate is also accelerating, with an estimated 160,000 casualties in the first four months of 2025.

    Russia attempts to compensate for this battlefield devastation in two ways.

    First, it’s isolated Ukraine by manipulating Trump’s desire for political wins and business deals. Russia, in appearing to seek an end to the conflict while offering no concessions, has stoked tensions between Zelenskyy and Trump, where there was little love lost between the two to begin with.

    Second, Russia has increased its attacks on Ukrainian civilian infrastructure. Large-scale bombing does little to help Russia on the battlefield. The attacks, in fact, put its forces at a disadvantage by redirecting munitions from military targets.

    Attacks on civilians

    The attacks on civilian infrastructure, however, are more about instilling fear in the Ukrainian population and demonstrating American impotence to a Russian audience.

    Russia’s attacks on Ukrainian cities also highlight Russia’s trump card: nuclear weapons. Russia, and specifically former Russian president Dimitry Medvedev, has repeatedly threatened nuclear war in an attempt to dissuade Ukraine’s supporters.

    By bombing Ukrainian cities, albeit with conventional munitions, Russia seeks to demonstrate its ability to deploy even more destructive weapons should the situation call for it.

    These Russian military missteps, combined with a Russian economy that is structurally unsound, means that Russia’s war effort is increasingly fragile.

    Weakening Asian alliances

    Ukraine’s attack on Belaya also signals Russian weakness to its nominal allies in Asia.

    Since the start of hostilities, Russia has relied on the tacit consent of China. This support has taken the form of China purchasing Russian crude oil to maintain the Russian economy and Chinese citizens unofficially fighting for Russia.

    Belaya has been a vital element of Russia’s deterrence strategy in Asia, which has come to rely more heavily on the Russian strategic nuclear threat. The inability of Russia to protect one of its key strategic assets from a Ukrainian drone attack, combined with the weakness of Russian conventional forces in Ukraine, erodes its ability to position itself as a key ally to China.

    In fact, some Russian authorities continue to view China as a major threat.

    At the same time, Operation Spider’s Web gives hope to the Ukrainian people. It may also cause Trump — who prefers to back winners — to ponder whether it’s Putin, not Zelenskyy, who lacks the cards to win the war.

    James Horncastle 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. Ukraine’s drone attacks on Russian airfields could derail Russia’s war efforts – https://theconversation.com/ukraines-drone-attacks-on-russian-airfields-could-derail-russias-war-efforts-258049

    MIL OSI – Global Reports –

    June 4, 2025
  • MIL-OSI Banking: Meet the Next Chapter of Ultra

    Source: Samsung

    For years, Samsung has listened to users asking for bigger screens, better cameras and new ways to connect and create. The demand is clear — an Ultra-experience that goes beyond a simple list of upgraded features in a smaller and more portable form factor.
    That’s why Galaxy’s next chapter is to provide an experience that seamlessly blends artistry and engineering to elevate everyday interactions.

    Squeeze onto a crowded subway train for your evening commute with the device folded in hand and use voice controls to have AI find you the perfect restaurant and text your dining companion. Finish off that unsent work email during the ride, then use the powerful camera to commemorate your night out. AI-powered tools enable all-day messaging, browsing and gaming on the go, so you can focus on your life—all without weighing you down.
    With industry-leading hardware, cutting-edge performance and seamless AI integration optimized for the foldable format, it’s what users have come to expect from Galaxy Ultra.
    And when it unfolds, it transforms– into a more immersive entertainment hub, a spacious workspace, or a multitasking powerhouse, now enhanced by powerful Galaxy AI features designed specifically for the foldable form.
    The Ultra experience is ready to unfold.

    MIL OSI Global Banks –

    June 4, 2025
  • MIL-OSI USA: Public Servants Sentenced for COVID-19 Relief Fraud

    Source: United States Small Business Administration

    Click Here to View the Original U.S. Department of Justice (DOJ) Press Release


    Angelo Stephen, 33, a former Federal Bureau of Prisons Correctional Officer, and George Arestuche, 47, a former Miami-Dade County Aviation Department employee, were sentenced in separate cases after pleading guilty to defrauding COVID-19 relief programs.

    Angelo Stephen

    On May 22, Stephen was sentenced to four months in prison to be followed by three years of supervised release and ordered to pay $75,513 in restitution by Chief U.S. District Judge Cecilia M. Altonaga. Chief Judge Altonaga also entered a forfeiture money judgment against Stephen in the additional amount of $71,166. The sentence follows Stephen’s conviction for wire fraud in connection with his fraudulent applications for two Paycheck Protection Program (PPP) loans and one Economic Injury Disaster Loan (EIDL), as well as his participation in two bank account takeover schemes.

    During his change of plea hearing, Stephen admitted that on August 4, 2020, he submitted a false and fraudulent EIDL application in his own name to the Small Business Administration (SBA), claiming to be an independent contractor and the sole owner of a business that provided event planning and entertainment services with 10 employees.  The EIDL application falsely certified that for the applicable 12-month period, the business had approximately $62,018 in gross revenue and a cost of goods sold of $0. Based on his false and fraudulent application, Stephen received $20,000 in EIDL proceeds from the SBA.

    Stephen additionally admitted to fraudulently obtaining two PPP loans. On April 24, 2021, Stephen submitted a first-draw PPP loan application, claiming to be the sole proprietor of a non-existent business with $106,554 in gross income in 2020. In support of the application, Stephen submitted a fraudulent IRS Form 1040 Schedule C. Based on his false and fraudulent application, Stephen received $20,833 in PPP loan proceeds from an SBA-approved lender.  On May 11, 2021, Stephen submitted a second-draw PPP loan application, making the same false claims about his nonexistent business that was supported by submission of the identical false Schedule C. Based on his false and fraudulent application, Stephen obtained $20,833 in PPP loan proceeds from a different SBA-approved lender.

    Stephen also admitted to taking part in two bank account takeover schemes. On March 30, 2023, Stephen received a $20,000 wire transfer from the account of an unsuspecting victim in Virginia. Stephen quickly withdrew all illegally obtained money through a series of cash withdrawals and Zelle transfers to others. In the second takeover scheme, Stephen and his accomplices obtained new checks from the credit union account of a different unsuspecting victim. Stephen subsequently used one of those checks to obtain $8,500 in cash that he was not entitled to.

    George Arestuche

    On May 28, Arestuche was sentenced by Senior U.S. District Judge Paul C. Huck to five years of probation to include 210 days in home detention and ordered to pay $114,679 in restitution, plus community service. The sentence follows Arestuche’s conviction for conspiracy to commit wire fraud in connection with his fraudulent application for an EIDL.

    According to the facts admitted at the change of plea hearing, Arestuche and a co-conspirator devised a scheme to defraud the SBA by submitting a false and fraudulent application for Arestuche to obtain an EIDL and EIDL advance. As part of the conspiracy, Arestuche agreed to pay the co-conspirator a large fee.

    On July 9, 2020, Arestuche’s co-conspirator submitted a false and fraudulent EIDL application to the SBA on behalf of Arestuche, claiming that Arestuche was an independent contractor and the sole owner of an automotive repair business with 10 employees. The EIDL application falsely certified that for the applicable 12-month period, the business had $600,000 in gross revenue and a cost of goods sold of $184,000. In reality, Arestuche was not an independent contractor and did not own any type of business.  The EIDL application was supported by a fraudulent IRS Form 1040 Schedule C. As a result of this false and fraudulent EIDL application, Arestuche obtained $149,900 in EIDL proceeds and a $10,000 EIDL advance from the SBA. Arestuche subsequently paid his co-conspirator $17,275 for helping him fraudulently obtain the money from the SBA. Since pleading guilty, Arestuche has paid $50,000 in advance restitution payments.

    U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida; acting Special Agent in Charge Amber Howell of the Department of Justice Office of Inspector General’s Fraud Detection Office (DOJ-OIG); Special Agent in Charge Amaleka McCall-Brathwaite, U.S. Small Business Administration Office of Inspector General (SBA OIG), Eastern Region; acting Special Agent in Charge Brett D. Skiles of FBI Miami; and Inspector General Felix Jimenez of the Miami-Dade County Office of Inspector General (MDC-OIG) made the announcement.

    DOJ-OIG and SBA-OIG investigated the Stephen case. SBA-OIG and the FBI’s Miami Area Corruption Task Force, which includes task force officers from the MDC-OIG, investigated the Arestuche case.

    Assistant U.S. Attorney Edward N. Stamm prosecuted both cases.

    Assistant U.S. Attorney Annika Miranda is handling forfeiture matters in the Stephen case.

    In March 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted. It was designed to provide emergency financial assistance to the millions of Americans suffering the economic effects caused by the COVID-19 pandemic. Among other sources of relief, the CARES Act authorized and provided funding to the SBA to provide EIDLs to eligible small businesses, including sole proprietorships and independent contractors, experiencing substantial financial disruptions due to the COVID-19 pandemic to allow them to meet financial obligations and operating expenses that could otherwise have been met had the disaster not occurred.  EIDL applications were submitted directly to the SBA via the SBA’s on-line application website, and the applications were processed and the loans funded for qualifying applicants directly by the SBA.

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

    On September 15, 2022, the Attorney General selected the Southern District of Florida’s U.S. Attorney’s Office to head one of three national COVID-19 Fraud Strike Force Teams. The Department of Justice established the Strike Force to enhance existing efforts to combat and prevent COVID-19 related financial fraud. For more information on the department’s response to the pandemic, please click here.

    Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

    Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov, under case numbers 25-cr-20014 (Stephen) and 25-cr-20001 (Arestuche).

    MIL OSI USA News –

    June 4, 2025
  • MIL-OSI USA: Pressed by Murray, McMahon Says “No” Analysis Was Conducted Before Firing Half of the Department of Education’s Staff

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    Murray: “You didn’t do an actual analysis to determine what the effects of this would be?”

    McMahon: “No.”

    ***WATCH: Senator Murray’s Q&A with Sec. McMahon***

    Washington, D.C. — Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, questioned Department of Education (ED) Secretary Linda McMahon at a Senate Appropriations Labor, Health and Human Services, Education, and Related Agencies Subcommittee hearing on the president’s fiscal year 2026 budget request for the Department. Senator Murray pressed Secretary McMahon on the indiscriminate mass firings of employees across the Department, the lack of transparency from the Department as it illegally withholds funds that were already appropriated by Congress, and how the Trump administration talks a big game about tackling antisemitism in schools but is actually dismantling the very office charged with investigating it and enforcing federal civil rights laws for students.

    In opening comments, Vice Chair Murray said:

    “Good morning, Secretary McMahon. You know, President Trump has made clear that he wants to abolish the very department that you lead. And we know here that you cannot eliminate the Department of Education without an act of Congress—but I’m afraid that has not stopped you from preventing the Department from actually doing its job.

    “You have indiscriminately shuttered offices and pushed out half of the Department’s staff. And under your leadership, we have seen critical research to improve student outcomes axed overnight—and funding for mental health services and teacher training, among a whole lot, abruptly cut off and discontinued. 

    “Now, today you come before this Committee to request massive funding cuts that do, in my opinion, nothing to help improve opportunities for students in our public schools throughout the country. You are proposing to slash Pell grants and much more.

    “Now, you and the president say this isn’t about cutting education funding but all about ‘returning education to the states.’ But actually, that couldn’t be farther from the truth—because the reality is this administration is actually taking unprecedented steps to extort schools and universities, and hold federal funding hostage if they don’t conform with your agenda.

    “So, it’s pretty clear that ‘returning education to the states’ actually means letting states, colleges, and local communities pick up the tab. And I just don’t believe that’s how things should work in America—I don’t believe that’s good for our students and I don’t believe it is good for our families.”

    [MASS FIRINGS AT ED]

    Senator Murray began by pressing Secretary McMahon on the indiscriminate mass firings across the Department: “Secretary McMahon, as I mentioned, you have set out to eliminate nearly half of your Department’s workforce. And that includes pushing out the door more than half of the staff at the Office for Civil Rights, the entire staff responsible for managing grant operations and contract procurement, and employees who actually prevent students from getting ripped off by predatory colleges. The Department cannot do its basic job to execute the law given how many staff have been pushed out.  And it is our students and our teachers who will suffer the consequences. So, I want to know from you: before you cut that much staff, did you conduct any analysis to assess whether or not it would degrade support and services for students and our schools? Or how the Department would still be able to execute the law after losing so many employees?”

    Secretary McMahon responded, “Yes, we did talk to the Department itself, OCR.”

    “But did you do an actual analysis?” Senator Murray pressed.

    “What we looked at across was, how can we restructure the Department so that we can maximize the use of the people who are there? So, what we did was in, like, training manuals and things of that nature, to look at it and say, okay, we can better operate if we focus on—” SecretaryMcMahon replied.

    “So, this was a conversation. You didn’t do an actual analysis to determine what the effects of this would be?” Senator Murray clarified.

    “No,” replied Secretary McMahon.

    “So, no study was done. They were just fired, and you assumed that it would work?” Senator Murray asked.

    Secretary McMahonreplied, “No, obviously not. I have been in the private sector and done restructuring before in companies, and it’s painful to do.”

    “It is painful, but normally companies look ahead and say: what are our goals and what will be the impact if these employees are gone from this Department? That’s why I asked. But you’ve not done an analysis, and my time is short, so let me continue,” said Senator Murray.

    [REFUSAL TO DETAIL HOW ED IS SPENDING FUNDING]

    Senator Murray turned to the lack of transparency from the Department about how it is spending funding that has already been provided: “You were required—by law—to submit an operating plan 45 days after enactment of the full-year CR detailing exactly how you are spending funding Congress provided this year. You didn’t do that. The purported ‘operating plan’ that you did submit told us virtually nothing about how you are spending taxpayer dollars right now, at this very moment. And that really raises concerns about when—and actually if—you are going get funding that Congress did provide for FY25 out the door. For example: your FY26 budget request zeroes out dedicated funding for literacy education programs, and your operating plan for this year describes this funding as ‘unallocated.’ So, will you allocate the $220 million for literacy programs that Congress appropriated for FY25?”

    Secretary McMahon refused to commit to spending the funding Congress provided for literacy programs, stating: “Well, Senator, as I mentioned earlier, we are looking at the unallocated dollars now to determine which of those programs we can best spend those dollars on. And I would be happy to get back to you. And we want to work with Congress on those unallocated dollars to see where they could be spent the best.”

    Senator Murray pressed on whether ED will release the funds: “Well, what is your plan to make sure that, that funding actually gets to the schools and students is intended to support? We’re running out of time here.”

    “Well, to look at those programs and then to allocate them to the states. If those programs, we believe is the best interests…” said Secretary McMahon.

    “Those funds were appropriated by Congress. Your department was to allocate them, and it really looks to me like the Department is illegally impounding funding that would help our students succeed with plans that don’t exist—and just day after day going by here. And that’s our concern,” saidSenator Murray.

    Secretary McMahon replied, “Well, let us work more with you as we update those allocations, as we did before.”

    “When do you plan to have those funds out by?” pushed Senator Murray.

    “Well, the funds that we are approving will go out in this year,” Secretary McMahon responded.

    Senator Murray replied, “Like in this next month, or..?”

    “In the fiscal year,” saidSecretary McMahon.

    “You’re running out of time. So, we need to see what the plan is if you can provide it,” said Senator Murray.

    Senator Murray and House Appropriations Committee Ranking Member Rosa DeLauro sent a letter to Office of Management and Budget (OMB) Director Russ Vought last week calling out the Trump administration’s lack of transparency about how it is spending funds provided by Congress for this year—noting the complete inadequacy of the spend plan, required by law, that the Department of Education submitted.

    [DISMANTLING THE OFFICE FOR CIVIL RIGHTS]

    Senator Murray then addressed how the Trump administration has been dismantling the Office for Civil Rights, which is the office charged with enforcing federal civil rights laws in schools and investigating discrimination, noncompliance with federal law and more. Under Secretary McMahon’s leadership, half of OCR’s staff have been eliminated and investigations have been hamstrung, and President Trump has requested a nearly 36% cut to OCR’s budget. She began: “Secretary McMahon, the Administration says that one of its priorities is tackling antisemitism in our schools—that’s correct, right?”

    “Correct,” replied Secretary McMahon.

    “Well, the Office for Civil Rights at your Department takes the leading role in preventing antisemitism and enforcing our nation’s civil rights law. It is really an important mission. But as you hopefully know, that office is under water. What is the current backlog at OCR, can you tell us that?” inquired Senator Murray.

    Secretary McMahon said, “We inherited about a 20,000 backlog from the Biden administration. One of the things that we found is some of those cases were like one-page complaints, and we’ve really been able to get rid of many of them and we are fulfilling…we absolutely are fulfilling all of our statutory requirements—have not failed to do any of those. And not only are we reducing the backlog, but we are keeping up with the current amount with a reduced staff because we are doing it efficiently.”

    “If you don’t have the staff, you can’t do them,” Senator Murray pressed.

    “If you have an efficient staff that has changed programs and you are addressing all of the issues, then you are being successful. So, I am answering your question by completely answering it,” replied Secretary McMahon.

    “Actually, Madam Secretary, my question is what is the current backlog?” asked Senator Murray.

    Secretary McMahon replied, “The current backlog is probably about—let’s see I’m looking at my numbers now—about 2,500 cases.”

    “2,500, and how many are you processing per month? Do you have any sense?” Senator Murray asked.

    “Well, we’re catching up with the backlog. And keeping current on the ones that are coming in,” dodged Secretary McMahon.

    Senator Murray pressed, “But you don’t know how many you are processing every month? You can’t tell us so we can get an idea?”

    “I can get back to you with that,” said Secretary McMahon.

    “Would you? If you could commit to giving us quarterly reports so we can know whether OCR is simply dismissing these cases or doing its job,” replied Senator Murray.

    Secretary McMahon responded in part, “I would be happy to do that.”

    MIL OSI USA News –

    June 4, 2025
  • MIL-OSI United Kingdom: Tenfold increase in UK drone deliveries for Ukraine at 50-nation Ukraine summit

    Source: United Kingdom – Executive Government & Departments

    Press release

    Tenfold increase in UK drone deliveries for Ukraine at 50-nation Ukraine summit

    The UK is investing a record £350m this year to increase the supply of drones to Ukraine from a target of 10,000 in 2024 to 100,000 in 2025

    The UK is ramping up its support for Ukraine with a target to achieve a tenfold increase in production and procurement of drones to deliver to Ukraine this year.

    With more than 10,000 drones delivered to Ukraine last year by the UK, tens of thousands more have already been delivered towards an ambitious new target of 100,000 drones for the current financial year. The record £350m investment in drones for Ukraine is part of the UK’s £4.5bn military support this year.

    As Ukraine’s Armed Forces have demonstrated the effectiveness of drone warfare in defending against Putin’s illegal invasion, the UK has been doubling down on investment in drones with British defence companies, including small to medium sized enterprises, supporting the UK economy and jobs, as part of the government’s Plan for Change.

    Convening a meeting of the Ukraine Defence Contact Group (UDCG) with his German counterpart, the Defence Secretary will also announce that the UK will spend a further £247m this year on training the Armed Forces of Ukraine, supporting its highly successful programme of training for Ukrainian recruits on British soil, Operation Interflex, which has provided more than 55,000 Ukrainian recruits with basic combat training since 2022 – with contributions from 13 partner nations.

    Ukrainian units have confirmed that UK-provided drones have helped stabilise parts of the frontline by driving back Russian attacks and protecting Ukrainian lives, and Defence Intelligence has confirmed that drones currently kill more people than artillery on the frontline in Ukraine.

    As well as this, the Defence Secretary will confirm the completed delivery of 140,000 artillery munitions by the UK for Ukraine since the start of 2025, in a vital boost for Ukraine’s frontline troops.

    As part of the Strategic Defence Review – published on Monday – the government announced more than £4bn for autonomous systems and drones for the UK Armed Forces, to help learn the lessons from Ukraine. This follows the government’s historic commitment to increase defence spending to 2.5% of UK GDP by April 2027.

    The Defence Secretary is set to join the German Defence Minister, Boris Pistorius, to host Ukrainian Defence Minister, Rustem Umerov, at the latest meeting of the 50-nation strong UDCG at NATO headquarters today (Wednesday).

    Defence Secretary John Healey MP said:

    The UK is stepping up its support for Ukraine by delivering hundreds of thousands more drones this year and completing a major milestone in the delivery of critical artillery ammunition.

    We are learning lessons every day from the battlefield in Ukraine, which British companies are using to develop advanced new drones to help protect Ukraine’s civilians and also strengthen our own national security.

    Defence is an engine for growth, delivering on this government’s Plan for Change, and this investment will help keep us secure at home and strong abroad, while ensuring the UK is a world leader in rapidly developing drone technology.

    To provide further training and equipment supplies for Ukraine’s forces, the UK will also invest £40m in the trust fund for NATO’s NSATU mission for Ukraine, for which the UK is the framework nation, which is prioritising rapid procurement of spare parts and fuel for vehicles, training, and consumables to support troops in combat.

    Artillery is critical to Ukraine’s war effort, holding back Putin’s forces from making significant gains on the frontline. With supply chains around the world under unprecedented strain, securing reliable sources for artillery ammunition is vital for Ukraine’s defence.

    Many of the drones built in the UK harness new cutting-edge technology, from highly manoeuvrable first-person view (FPV) drones to precisely attack Russian targets, to interceptor drones designed to boost Ukraine’s air defence by destroying Russian missiles and drones, to new fibre-optic drones which are tethered via a cable which safeguards against jamming from Russian electronic warfare systems.

    The UK has also been providing low-cost drones which can drop explosives on Russian positions. Between this type of drone and FPV systems, these two types of drone are reported to be responsible for 60-70% of damage currently caused to Russian equipment.

    The UK is fully committed to working with allies to step up support to ensure Ukraine remains in the strongest possible position, which is why £4.5 billion of military support will be provided this year – more than ever before.

    Share this page

    The following links open in a new tab

    • Share on Facebook (opens in new tab)
    • Share on Twitter (opens in new tab)

    Updates to this page

    Published 4 June 2025

    Invasion of Ukraine

    • UK visa support for Ukrainian nationals
    • Move to the UK if you’re coming from Ukraine
    • Homes for Ukraine: record your interest
    • Find out about the UK’s response

    MIL OSI United Kingdom –

    June 4, 2025
  • MIL-OSI USA: Carbajal-Backed Bipartisan Bill to Expand Aerial Firefighting Fleet Passes House

    Source: United States House of Representatives – Representative Salud Carbajal (CA-24)

    U.S. Representative Salud Carbajal (D-CA-24) released the statement below following House passage of the Aerial Firefighting Enhancement Act. Earlier this year, Carbajal joined Reps. Dan Newhouse (R-WA-04), Jake Ellzey (R-TX-06), and Gabe Vasquez (D-NM-02) in introducing this legislation to improve our nation’s aerial firefighting capabilities through expanded use of excess military aircrafts and parts. The legislation will now go to the President’s desk to be signed into law. 

    “As wildfires continue to threaten communities across the Western U.S., we must expand the resources available to fire departments,” said Rep. Carbajal. “This bipartisan legislation will boost our firefighting aircraft fleet and ensure first responders have the air support they need to combat severe fires.”

    “This legislation is a huge step in mitigating the impacts of wildfires and gives our firefighters the tools they need to keep our communities safe,” said Rep. Newhouse. “Utilizing the Department of Defense’s excess aircraft gives aerial firefighters an upper hand while leveraging the assets we already have at our disposal. I thank Senator Sheehy from Montana for his leadership as we send this legislation to the president’s desk.”

    “This year is the most dangerous and expensive wildfire year in history, and the Aerial Firefighting Enhancement Act will give wildland firefighters the tools they need to protect communities and save lives. Eliminating bureaucratic obstacles to fight wildfires more quickly and aggressively is America First common sense, and I appreciate my colleagues in the House and Senate for their support. I look forward to seeing this bipartisan bill cross the finish line so we can better support the brave first responders on the front lines fighting wildfires across the country,” said Sen. Sheehy (R-MT).

    “10 Tanker Air Carrier supports and thanks the bipartisan efforts of Congress to help the many operators involved with aerial firefighting to purchase at fair market value excess, retired military spare parts, particularly desperately needed engines and brakes. This commonsense approach will ensure that our aging fleet will remain available to the United States to battle the devastating wildland fires of today and well into the future.  We are pleased that the Department of Defense and the Air Force also support the national security mission of companies like ours,” said Joel Kerley, President and CEO of 10 Tanker Air Carrier.

    “Billings Flying Service is grateful to Rep. Carbajal and Rep. Newhouse for their leadership in introducing the Aerial Firefighting Enhancement Act of 2025. As an operator providing aerial wildfire suppression services across the United States, maintaining BFS fleet readiness is ever so critical to our mission. This Act opens up direct access to U.S. Armed Forces surplus parts, allowing operators to keep their aircraft in the air and deployed on life-saving missions. We are proud of the advancements Congress has made in protecting the sustainment of aerial wildfire resources, and we look forward to the Aerial Firefighter Enhancement Act becoming law,” said Bridger Blain, President of Billings Flying Service.

    “Firehawk Helicopters is encouraged by the passing of the Aerial Firefighting and Enhancement Act and would like to thank Rep. Newhouse, Rep. Carbajal, Sen. Tim Sheehy and Sen. Martin Heinrich for leading the efforts in seeing this bill passed. Since 20017 the aerial firefighting community has lost access to a critical aircraft and parts supply source. Taxpayers have lost hundreds of millions of dollars as valuable aircraft and aircraft parts were no longer made available for commercial sale.  The law will save these critical aircraft and parts from being scrapped. By making these aircraft and parts available for commercial sale again, the taxpayers will reap the maximum return on their original investment, but more importantly, see these aircraft and parts utilized in a second life that prioritizes the protection of the public from the growing threat of devastating wildfires,” said Bart Brainerd, CEO Firehawk Helicopters.

    This bipartisan bill aims to improve our country’s ability to combat wildfires year-round by enabling the use of military surplus aircrafts, sold at fair market value, for the aerial firefighting fleet. Additionally, the sale of aircraft parts will help maintain the current fleet of firefighting aircrafts.

    The bill reauthorizes the Secretary of Defense to sell excess Department of Defense aircrafts and parts, which are deemed suitable for commercial sale, to individuals or entities contracted by the government for the aerial delivery of fire retardants or water to fight wildfires, provided the aircraft and parts are used solely for wildfire suppression. The original authority expired in 2005, was reauthorized from 2012 to 2017, and has since lapsed again.

    MIL OSI USA News –

    June 4, 2025
  • MIL-OSI USA: Congressman McGarvey’s Entrepreneurs with Disabilities Reporting Act Passes Unanimously in the House of Representatives

    Source: United States House of Representatives – Congressman Morgan McGarvey (Kentucky-03)

    June 03, 2025

    Today, Congressman Morgan McGarvey’s Entrepreneurs with Disabilities Reporting Act of 2025 passed unanimously in the House of Representatives. Congressman McGarvey, who serves as Vice Ranking Member of the House Small Business Committee, introduced the legislation in February alongside Congressman Pete Stauber (MN-08) to improve government services for entrepreneurs with disabilities.

    There are 44 million people with disabilities in the United States. In Kentucky, approximately 18 percent of people have a disability. Yet people with disabilities make up just 6 percent of our nation’s small business owners.

    “Entrepreneurship is a hallmark of the American Dream – it is who we are, a land of opportunity for all people. Yet too many Americans still face barriers when starting and running their own businesses, including people with disabilities,” said Congressman Morgan McGarvey. “As Vice Ranking Member of the House Small Business Committee, I’m proud to partner with Congressman Stauber to improve services and expand opportunities for entrepreneurs with disabilities so that everyone has a fair shot at starting a small business and finding success.” 

    The Entrepreneurs with Disabilities Reporting Act of 2025 would require SBA to conduct a comprehensive study of the resources that are available to entrepreneurs with disabilities, examine their effectiveness, and determine what actions need to be taken to better support these entrepreneurs. By conducting this report, SBA will have the opportunity to revisit the effectiveness of their programs to ensure our government better serves people with disabilities who want to start their own small business.

    ###

    MIL OSI USA News –

    June 4, 2025
  • MIL-OSI USA: SBA Offers Disaster Assistance to Texas Small Businesses, Private Nonprofits and Residents 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 Texas small businesses, private nonprofits and residents to offset physical and economic losses from the severe storm and straight‑line winds occurring May 8. The SBA issued a disaster declaration in response to a request received from Gov. Greg Abbott on May 29.

    The disaster declaration covers the Texas counties of Brooks, Duval, Jim Wells, Kleberg, Live Oak, Nueces and San Patricio.

    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 private nonprofit (PNP)organizations 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.

    Interest rates are as low as 4% for 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 sets loan amounts and terms based on each applicant’s financial condition.

    “When disasters strike, SBA’s Disaster Loan Outreach Centers play a vital role in helping small businesses and their communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “At these centers, SBA specialists assist business owners and residents with disaster loan applications and provide information on the full range of recovery programs available.”

    Beginning Wednesday, June 4, SBA customer service representatives will be on hand at the Disaster Loan Outreach Center (DLOC) to answer questions about SBA’s disaster loan program, explain the application process and help each individual 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 operations are as follows:

    JIM WELLS COUNTY
    Disaster Loan Outreach Center
    Jim Wells County Tax Office – Former Wells Fargo Bank
    First Floor
    601 E. Main St.
    Alice, TX  78332

    Opens at 12 p.m., Wednesday, June 4
    Mondays – Fridays, 8 a.m. – 5 p.m.
    Closes at 5 p.m., Thursday, June 26

    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. 1, 2025. The deadline to return economic injury applications is March 2, 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 –

    June 4, 2025
  • MIL-OSI New Zealand: Consumer NZ – The sale of a top-rated power company signals a shrinking market

    Source: Consumer NZ

    Flick Electric has been rated New Zealand’s top power company in Consumer NZ’s latest energy retailer survey — coinciding with its sale to gentailer, Meridian.

    Flick Electric has been named New Zealand’s top-rated power company in Consumer NZ’s latest energy retailer survey – but the win comes with an unexpected twist.  

    Flick achieved a standout satisfaction score of 71% (very satisfied), earning a People’s Choice award. Flick was recently sold to Meridian Energy – the parent company of Powershop, which failed to meet the People’s Choice standard in 2025.

    In contrast to Flick, Powershop, a seven-time People’s Choice winner since 2015, has seen a notable drop in satisfaction – from 67% in 2024 to just 60% this year, pushing it out of the top tier for the first time in years.

    “Flick has consistently rated well in our surveys, so it’s disappointing to see it absorbed by a larger player,” says Jessica Walker, Consumer NZ acting head of research and advocacy.

    “Flick customers have been typically among the most satisfied. We don’t know what the future holds for Flick customers, but there is a risk it will be consumers who will bear the brunt of reduced competition.”  

    The poorest performers this year are Pulse Energy (41%), Contact Energy (44%) and Mercury (47%). Contact Energy and Mercury are two of the largest energy providers in the country and are known as ‘gentailers’, electricity companies that both generate and retail electricity directly to households.  

    Meridian Energy was the third-best performing power provider in the survey results and notably the highest-ranking of this country’s four gentailers.  

    Frank also earns People’s Choice, but sector-wide ambivalence is up  

    Frank Energy joins Flick in receiving a People’s Choice award, with 65% of its customers reporting high satisfaction. However, broader tr

    MIL OSI New Zealand News –

    June 4, 2025
  • MIL-OSI New Zealand: Banking – ASB Business Survey: The impact of Trump’s tariffs, according to Kiwi businesses

    Source: ASB

    Research released today by ASB, supported by Talbot Mills Research, shows Kiwi businesses see US tariffs as more impactful than Covid-19 or the Global Financial Crisis.  More than 300 business leaders, including CEOs and founders, contributed to the study, giving their insights on President Trump’s recently announced trade policies.

     

    • Two-thirds (67%) of businesses are concerned about the impact of proposed US tariffs in the next 12 months, with nearly 80% of exporters concerned
    • Kiwi business leaders believe Trump’s tariffs will have a more severe global impact than Covid-19 and the GFC
    • Meat, dairy and wine are seen as the most vulnerable within Food and Fibre sector, while businesses predict wool and seafood would fare better
    • Nearly one-quarter (24%) of Kiwi businesses see at least some opportunity in the tariffs
    • More than one-third (39%) of respondents listed support of banks as critical to navigating the current environment

     

    Tariffs: a threat and an opportunity for Kiwi businesses

    ASB’s Executive General Manager Business Banking Rebecca James says: “We’re seeing sustained market volatility with the ever-changing political decisions around tariffs, which naturally creates a heightened sense of uncertainty for businesses. It’s clear businesses view any proposed US tariffs as troubling, but it’s pleasing that nearly a quarter of respondents see opportunity in tariffs too. New Zealand has a reputation on the world stage for ingenuity and a can-do attitude, and we want businesses to know there are things they can do to future-proof and manage risks in turbulent times.”

    President Trump first announced tariffs in April as part of the ‘America First’ trade policy, aimed at protecting US industries and addressing the trade deficit. The tariffs are set at 10% for most countries, including New Zealand, with China a notable outlier where a larger tariff has been applied to Chinese origin goods. Additional proposed tariffs higher than the 10% baseline were paused for a 90-day period and will be reviewed in July.  Businesses are split on how long potential disruption could last.  A slight majority (51%) of Kiwi businesses are optimistic that the economy will recover quickly, while 38% predict a prolonged economic downturn for the country and the remainder were unsure.

    Taking action key to growth

    14% of those surveyed view US tariffs purely as an opportunity, while 10% see them as both a potential risk and an opportunity. Ten percent of businesses and 14% of exporters have already taken action to reduce the negative impacts of tariffs including raising prices, shifting markets or cutting costs. Just under one-third (30%) believe they can make up losses through new customers or cost savings; 25% from operational efficiencies, and 22% from other revenue streams. 22% are unsure, with uncertainty highest among small businesses.

    “The current market volatility and geopolitical tension may be our ‘new normal’, but we’ve been in positions of global uncertainty before and the research shows Kiwi businesses are already thinking about actions they can take to make their business more resilient and generate returns.”

    Ms James encourages businesses to stay connected to industry partners, trade advocacy groups and their banks to share knowledge and ideas when it comes to growth and scale.

    “Business customers are relying on us more than ever to navigate the current environment, and we’re seeing this through an increase in trade finance and a rise in currency hedging enquiries. Our advice is to start exploring options now. We’re seeing customers adapting their business strategy in all sorts of ways, so solutions for your business might look like assessing AI to improve workflow, adjusting your supply chain, selling down stock before new inventory orders, building new trade relationships or exploring untapped markets.”

    Businesses shifting their focus to closer to home

    More than three-quarters of Kiwi exporters expect the cost of doing business with the US to increase by 10% or more in the next year. Concern is higher among exporters (78%) and increases with business size, with worry growing to 88% among 100+ staff businesses). The potential impacts of tariffs which were of the most concern to businesses include slowing economic growth (39%), increased operating costs (32%) and supply chain disruptions (28%).  Nearly one-quarter of businesses are worried about consumer backlash due to price inflation (24%), along with 23% who see a China-US Trade war as unsettling for business. Some of the most explored markets by businesses are China (51%), Australia (37%), European Union (28%) and Southeast Asia (25%).  

    “The research shows a pendulum swing when it comes to trading partners, with businesses redirecting their attention to our close neighbours. Location seems to be king, with our customers prioritising relationships much closer to home,” says Ms James.

    “We’re also seeing exporters maintaining high standards and doubling down on premium products to give us an edge on the global stage, even where it costs more for consumers.”

    The role of banks as a critical support function

    Businesses see Government lobbying as the most critical tool in helping to reduce the impact of tariffs, with banks the next most important. More than one-third (39%) of respondents listed support of banks as critical, specifically working capital support (31%), risk advice (26%) and trade finance (24%).

    “ASB has provided $4.6 billion dollars to Kiwi businesses over the past five years including considerable support to companies looking to expand and navigate opportunities abroad. We have seen increased use of trade finance products, aided by trade credit insurance, enabling businesses to sustainably leverage balance sheets while derisking payment default. We encourage companies doing business overseas to speak with their banker and engage with a trade specialist to ensure your business is in the strongest position,” says Ms James.

    Notes: Results in this report are based upon questions asked in a Talbot Mills Research online survey. The basis of the sample is 344 New Zealand business leaders (business owners, C-suite, senior management), with the survey in field between 24 April and 5 May 2025.

    MIL OSI New Zealand News –

    June 4, 2025
  • MIL-OSI New Zealand: Banking – ASB drops mortgage rates for the seventh time this year

    Source: ASB

    ASB has today reduced several of its fixed home lending rates by up to 20 basis points, marking the bank’s seventh fixed rate mortgage drop in 2025. ASB has also lowered some of its term deposit rates by between 5 and 20 basis points.

    ASB’s Executive General Manager Personal Banking Adam Boyd says “Interest rates remain a hot topic of conversation, with homeowners and first home buyers watching the market closely.  Whether you’re looking to fix or float, today’s drops to our fixed lending rates across short and medium terms, along with our lower variable rates announced last week, give New Zealanders a range of appealing options to consider.”  

    All rate decreases are effective immediately.

     

      Fixed home lending term

    Previous rate

    New rate

    Rate decrease

    6-month

    5.59%

    5.45%

    – 14 bps

    1-year

    4.99%

    4.95%

    – 4 bps

    18-month

    4.99%

    4.89%

    – 10 bps

    2-year

    4.99%

    4.95%

    – 4 bps

    3-year

    5.35%

    5.15%

    – 20 bps

     

    MIL OSI New Zealand News –

    June 4, 2025
  • MIL-OSI New Zealand: Energy Sector – Meridian appoints new General Manager

    Source: Meridian Energy

    4 June 2025 – Meridian Energy has appointed Rory Blundell to the newly created role of General Manager, Strategy and Portfolio. Rory is currently Meridian’s Group Strategy Manager and starts his new position with immediate effect.

    Rory brings over 20 years of New Zealand electricity sector experience to his new role, having previously held numerous senior and executive management positions in the industry.

    “I am delighted to appoint Rory into this new and important role. His depth of sector experience and quality have significantly advanced the development and execution of our strategy. I am confident he will improve the way our market portfolio and customer solutions align with that strategy. Rory’s calibre will add to the Meridian Executive, and further improve the way we work collectively,” says CEO designate Mike Roan.

    “Rory is a great example of the bench strength we have developed at Meridian, and I look forward to his continued contribution to the future direction of this company”.

    Chris Ewers, currently acting General Manager, Strategy and Portfolio, will now take up a new position as Electricity Security Manager, reporting to General Manager, Generation Tania Palmer.

    MIL OSI New Zealand News –

    June 4, 2025
  • MIL-OSI Russia: Financial News: Meeting of Finance Ministers and Heads of Central Banks of SCO Countries Held

    Translation. Region: Russian Federal

    Source: Central Bank of Russia –

    A meeting of finance ministers and heads of central banks of the Shanghai Cooperation Organization (SCO) countries was held in Beijing. The Bank of Russia was represented by Gulnara Khaidarshina, Director of the Department for Cooperation with International Organizations.

    The parties exchanged views on the prospects for the development of the global, regional and national economic situation, on fiscal policy in support of economic growth and the transition to a green economy. Within its competence, the Bank of Russia participated in the discussion of the development of inclusive digital finance and the further expansion of the use of national currencies of the SCO member states in regional trade and investment.

    Next year, the chairmanship of the SCO Council of Heads of State will pass to the Kyrgyz Republic.

    Preview photo: songweiqiang / Shutterstock / Fotodom

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

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

    HTTPS: //VVV.KBR.ru/Press/Event/? ID = 24670

    MIL OSI Russia News –

    June 4, 2025
  • MIL-OSI Russia: Dmitry Grigorenko awarded the winners of the international IT Olympiad

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Dmitry Grigorenko awarded the winners of the international IT Olympiad. With the Governor of the Nizhny Novgorod Region Gleb Nikitin and the Chairman of the Board of Sberbank German Gref.

    The results of the international conference were summed up in Nizhny Novgorod IT Olympiad, in which more than 10 thousand schoolchildren from 51 countries took part. In the final stage of the competition, 17 teams from Russia, Cuba, Thailand, India, China, Vietnam, Mozambique, Tajikistan, Turkmenistan and Sri Lanka met. As part of it, the participants solved practical problems in the field of artificial intelligence and information security.

    The winners were awarded at the anniversary conference “Digital Industry of Industrial Russia” (CIPR). Deputy Prime Minister – Head of the Government Staff Dmitry Grigorenko took part in the award ceremony for the finalists. He noted that the participants, despite their young age, demonstrated a high level of knowledge in the field of IT and involvement.

    “It is no coincidence that the award ceremony for the finalists of the IT Olympiad is taking place today at CIPR. At the exhibition, we saw cutting-edge digital solutions. But there are people behind all these developments. For the IT industry in Russia to develop, highly qualified personnel are needed first and foremost. You, interested young specialists, will soon become such personnel. You are already part of the industry.

    Over the past 5 years, we have already managed to increase the number of budget places in universities in IT specialties by 2.5 times. More than 230 thousand students have received qualifications in the IT profile. The largest companies are also actively involved in training personnel. As part of the national project “Data Economy”, we are launching new programs for training specialists in microelectronics, robotics and artificial intelligence, unmanned systems,” said Deputy Prime Minister – Chief of the Government Staff Dmitry Grigorenko.

    Sberbank acted as the general partner of the international IT Olympiad. Sberbank Chairman of the Management Board Herman Gref addressed the finalists of the competition: “I would like to congratulate the guys – participants of the IT Olympiad with all my heart. You have already taken a huge step – created a platform and a springboard to your own future. Different situations may arise in your life when you doubt whether you can cope with certain challenges. Remember that you once made the decision to participate in this competition, passed all the tests, and even won! And this will give you strength and confidence that you can handle any task. You are the very people who will build our common future. I wish you good luck on this path, confidence and resilience! Remember that it is not those who do not fall who win. Those who find the strength to get up and move forward after each fall win.”

    The winners were also congratulated by the Governor of the Nizhny Novgorod Region, Gleb Nikitin:

    “At the anniversary CIPR, special attention was paid to the international agenda, including the interaction of countries in IT education. The Nizhny Novgorod government, together with the Republic of Cuba, organized the international IT Olympiad. I congratulate the guys on their high results! Participation in such competitions is already a great victory, and reaching the final is confirmation that we are talented, motivated and very promising young people. For the Nizhny Novgorod government, the development of the IT sphere is of great importance, as is systematic work with young people. The fact that the award ceremony is taking place in Nizhny, at the CIPR conference site, speaks for itself.”

    The IT Olympiad lasted almost 2 months and consisted of 2 stages: individual and team competitions. Schoolchildren solved problems in the following areas: cryptography, web security, reverse engineering, artificial intelligence, network traffic analysis, machine learning, open source intelligence (OSINT), information security theory, programming basics, social engineering, and others. A number of tasks imitated real websites with vulnerabilities — participants had to hack them and bypass the protection. The tasks were prepared by experts in artificial intelligence and information security.

    The participants coped best with tasks in mathematical logic (75% of participants solved them correctly), information security theory (74% of participants), and the basics of algorithms and programming (73% of participants). The most difficult tasks for schoolchildren were in the field of social engineering (32% of participants solved them correctly) and reverse engineering (36% of participants).

    The organizers of the international IT Olympiad were the Government of the Nizhny Novgorod Region with the support of the Government of the Russian Federation. The technological partner was the international school of programming and mathematics “Algorithmika”. The general partner was Sberbank.

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

    MIL OSI Russia News –

    June 4, 2025
  • MIL-OSI Russia: Dmitry Grigorenko: The government has taken special control of key projects to replace foreign software

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    The government has defined a list of key projects to replace foreign software with domestic analogues. These projects will be under special control. This was discussed at a meeting of Deputy Prime Minister – Head of the Government Staff Dmitry Grigorenko with heads of industrial competence centers within the framework of the conference “CIPR-2025”.

    The Deputy Prime Minister emphasized that these projects have been given flagship status – they are of strategic importance for the country’s technological independence, especially in industry and the military-industrial complex.

    The criteria for selecting flagship projects include the criticality of the development for the industry, the possibility of using the software in the critical information infrastructure (CII), the implementation of the project in the interests of the military-industrial complex, as well as the implementation of PLM systems, i.e. integrated solutions for the design and production of complex equipment.

    It was noted that the flagship projects include a unified information environment for managing the product life cycle commissioned by the Roscosmos state corporation. The development will integrate all stages of product creation into a single system and optimize the processes of developing and manufacturing rocket and space technology. Another initiative is an information system for manufacturing aircraft technology commissioned by the United Aircraft Corporation (UAC). It will replace foreign software, will allow for the transfer of control over all stages of the product life cycle to digital technology, and will improve the efficiency of R&D work.

    “Within the framework of the ICC, advanced technological solutions are being created to strengthen Russia’s sovereignty. Today, our main focus is on the development of heavy software. First of all, we are talking about the implementation of product lifecycle management systems. These comprehensive solutions allow for the effective management of all stages – from design to serial production – in key industries: aircraft and shipbuilding, automobile and rocket and space industries. It is fundamentally important that all projects – both those financed by grants and corporate initiatives – are implemented within the established deadlines and successfully implemented in production processes. In this case, the priority is not the source of funding, but the achievement of measurable practical results,” said Dmitry Grigorenko.

    He also recalled that the ICCs have already demonstrated efficiency and high results. During the meeting, the most widely replicated ICC projects were highlighted – such initiatives demonstrated the highest sales revenue. Among them are the field design platforms commissioned by JSC Rosgeo. The revenue of its developer amounted to about 340% of the grant. Over 150% of the grant was returned in the form of tax deductions. Another successfully replicated development is the Ujin platform for the development of smart homes and digitalization of housing and communal services. The revenue from its sale amounted to about 60% of the grant, over 42% of the grant was returned in the form of taxes.

    In total, there are currently about 200 projects in progress to replace foreign software with Russian developments. They are being implemented both with government grant support and through the developer companies’ own investments.

    The initiatives are divided into two stages of implementation. The first wave, which started in 2022, includes about 150 projects, of which over 40% have been fully completed to date: these are 59 projects implemented using the participants’ own funds, as well as 7 grant projects.

    In May of this year, the second wave was launched, which included another 49 projects: 17 with state funding and 32 with company funds.

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

    MIL OSI Russia News –

    June 4, 2025
  • MIL-OSI USA: VETERANS, EXPERTS SHARE HOW HARMFUL REPUBLICAN POLICIES ARE TO VETERANS CARE

    Source: United States House of Representatives – Representative Debbie Wasserman Schultz (FL-23)

    “As Ranking Member on the Military Construction and Veterans Affairs Appropriations Subcommittee, I hear heartbreaking stories of our veterans being fired or denied and delayed from receiving their hard-earned benefits and services,” said Congresswoman Debbie Wasserman Schultz (D-FL). “Trump and Republicans are breaking our promise to America’s veterans, letting Elon Musk’s DOGE cut benefits and healthcare our veterans earned while carrying out the largest firing of veterans in American history.”

    Norfolk, VA – Today, the House Democratic Steering & Policy Committee held a hearing on the impacts of the Trump Administration proposed policies and DOGE cuts for veterans, led by Co-Chairs Congresswomen Robin Kelly (D-IL) and Nanette Díaz Barragán (D-CA). The committee heard from policy experts, healthcare providers, and veterans on how Republican schemes makes it more difficult to plan, access care, and utilize the programs across the federal government. 

    “Today, I heard a clear message from veterans, healthcare leaders and VA workers: President Trump’s agenda is making it harder for veterans and their families to receive the care they need,” said Rep. Kelly. “The Trump administration has fired over 6,000 veterans who are federal workers, implemented hiring freezes in the VA hospital system and cut mental healthcare for veterans. These attacks against the brave men and women who served our country in uniform are undignified and disrespectful.”

    “Our veterans served our country and have earned the care and benefits they were promised,” said Rep. Barragán. “Yet, Donald Trump and House Republicans have fired thousands of veterans, canceled contracts for programs to end veteran homelessness and prevent veteran suicide, frozen hiring new staff at the VA, and cut programs that provide health care and education — all so that they can line the pockets of their billionaire donors. House Democrats will continue to put our veterans over billionaires, fight back against Trump and House Republicans, and work to keep America’s commitment to our veterans.” 

    Rep. Bobby Scott (D-VA), who hosted the field hearing in his district said, “Today’s hearing highlighted the ways President Trump, Secretary Collins and Congressional Republicans have harmed our nation’s veterans by firing veterans, weakening the VA, and slashing Medicaid. I was proud to host my colleagues in Hampton Roads, home to one of the largest veterans’ populations in the country. I look forward to continuing to work together to protect America’s veterans from these attacks and ensure they receive the quality health care they earned.” 

    “Since his first day back in office, the President has gone after our nation’s veterans. The President has fired thousands of veterans and VA staff, taken a sledgehammer to the PACT Act serving veterans exposed to toxic substances, and canceled hundreds of contracts for programs supporting veterans’ mental health and addressing veteran homelessness. Make no mistake: This administration is making our veterans, their families, and the American people worse off,” said Rep. Mike Thompson, a veteran. 

    “As Ranking Member on the Military Construction and Veterans Affairs Appropriations Subcommittee, I hear heartbreaking stories of our veterans being fired or denied and delayed from receiving their hard-earned benefits and services,” said Congresswoman Debbie Wasserman Schultz (D-FL). “Trump and Republicans are breaking our promise to America’s veterans, letting Elon Musk’s DOGE cut benefits and healthcare our veterans earned while carrying out the largest firing of veterans in American history.” 

    This year, the Steering & Policy Committee has held hearings on Medicaid, SNAP, Social Security Small Business, and Veterans. Each one shared personal stories of how everyday Americans are being harmed by this administration. The Steering & Policy Committee will continue to hear, collect, and share more stories from across the nation in the months ahead. 

    The full video of today’s hearing can be found here.  

    #### 

    MIL OSI USA News –

    June 4, 2025
  • MIL-OSI USA News: Adjusting Imports of Aluminum and Steel into the United States

    Source: US Whitehouse

    class=”has-text-align-center”>BY THE PRESIDENT OF THE UNITED STATES OF AMERICA
     
    A PROCLAMATION

    1.  On January 11, 2018, the Secretary of Commerce (Secretary) transmitted to me a report on the Secretary’s investigation into the effect of imports of steel mill articles (steel articles) on the national security of the United States under section 232 of the Trade Expansion Act of 1962, as amended (19 U.S.C. 1862) (section 232).  The Secretary found and advised me of his opinion that steel articles are being imported into the United States in such quantities and under such circumstances as to threaten to impair the national security of the United States.

    2.  In Proclamation 9705 of March 8, 2018 (Adjusting Imports of Steel Into the United States), and Proclamation 9980 of January 24, 2020 (Adjusting Imports of Derivative Aluminum Articles and Derivative Steel Articles Into the United States), I concurred with the Secretary’s findings that steel articles, as defined in clause 1 of Proclamation 9705, and derivative steel articles, as described in clause 3 of Proclamation 9980, are being imported into the United States in such quantities and under such circumstances as to threaten to impair the national security of the United States, and I decided to adjust the imports of those steel articles and derivative steel articles by imposing a 25 percent ad valorem tariff on such articles imported from most countries.  In Proclamation 10896 of February 10, 2025 (Adjusting Imports of Steel Into the United States), I decided to adjust the imports of steel articles and derivative steel articles by imposing a 25 percent ad valorem tariff on such articles imported from all countries. 

    3.  On January 19, 2018, the Secretary transmitted to me a report on the Secretary’s investigation into the effect of imports of aluminum articles on the national security of the United States under section 232.  The Secretary found and advised me of his opinion that aluminum articles are being imported into the United States in such quantities and under such circumstances as to threaten to impair the national security of the United States.

    4.  In Proclamation 9704 of March 8, 2018 (Adjusting Imports of Aluminum Into the United States), and Proclamation 9980, I concurred with the Secretary’s findings that aluminum articles, as defined in clause 1 of Proclamation 9704, and derivative aluminum articles, as described in clause 3 of Proclamation 9980, are being imported into the United States in such quantities and under such circumstances as to threaten to impair the national security of the United States, and decided to adjust the imports of aluminum articles and derivative aluminum articles by imposing a 10 percent ad valorem tariff on such articles imported from most countries.  In Proclamation 10895 of February 10, 2025 (Adjusting Imports of Aluminum Into the United States), I decided to adjust the imports of aluminum articles and derivative aluminum articles by imposing a 25 percent ad valorem tariff on such articles imported from all countries.

    5.  In Proclamation 10896 and Proclamation 10895, I instructed the Secretary to continue to monitor imports of steel articles and derivative steel articles, and aluminum articles and derivative aluminum articles, respectively, and to review the status of such imports with respect to the national security of the United States.  The Secretary has done so and has advised me accordingly.

    6.  After considering current information newly provided by the Secretary, among other things, I have determined that it is necessary to increase the previously described steel and aluminum tariffs to adjust the imports of steel and aluminum articles and their derivative articles so that such imports will not threaten to impair the national security.  In my judgment, the increased tariffs will more effectively counter foreign countries that continue to offload low-priced, excess steel and aluminum in the United States market and thereby undercut the competitiveness of the United States steel and aluminum industries.  Although the previously imposed steel and aluminum tariffs have helped provide critical price support in the United States market, they have not yet enabled these industries to develop and maintain the rates of capacity production utilization that are necessary for the industries’ sustained health and for projected national defense needs.  I have determined that increasing the previously imposed tariffs will provide greater support to these industries and reduce or eliminate the national security threat posed by imports of steel and aluminum articles and their derivative articles.  

    7.  Accordingly, I have determined that it is necessary and appropriate to increase the tariff rate for imports of steel articles and derivative steel articles, and aluminum articles and derivative aluminum articles, from 25 percent ad valorem to 50 percent ad valorem effective as of 12:01 a.m. eastern daylight time on June 4, 2025.  I have also determined that it is necessary and appropriate to modify the way in which the tariff measures described in Executive Order 14289 of April 29, 2025 (Addressing Certain Tariffs on Imported Articles), apply to steel articles and derivative steel articles, and aluminum articles and derivative aluminum articles, to ensure the effectiveness of the tariff changes described in this proclamation and the alignment of policy priorities between this proclamation and Executive Order 14289.  I have further determined that it is necessary and appropriate to allow for the implementation of the U.S.-UK Economic Prosperity Deal of May 8, 2025 (EPD), and to accordingly provide different treatment, as described below, for imports of steel and aluminum articles, and their derivatives, from the United Kingdom.  

    8.  Section 232 authorizes the President to adjust the imports of an article and its derivatives that are being imported into the United States in such quantities or under such circumstances as to threaten to impair the national security.

    9.  Section 604 of the Trade Act of 1974, as amended (19 U.S.C. 2483), authorizes the President to embody in the Harmonized Tariff Schedule of the United States (HTSUS) the substance of statutes affecting import treatment, and actions thereunder, including the removal, modification, continuance, or imposition of any rate of duty or other import restriction.

    Now, Therefore, I, DONALD J. TRUMP, President of the United States of America, by the authority vested in me by the Constitution and the laws of the United States of America, including section 232; the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.); section 301 of title 3, United States Code; and section 604 of the Trade Act of 1974, as amended, do hereby proclaim as follows:
    (1)  As set forth in Annexes I and II to this proclamation, as of 12:01 a.m. eastern daylight time on June 4, 2025, the tariffs proclaimed by Proclamation 9704, as amended; Proclamation 9705, as amended; Proclamation 9980, as amended; Proclamation 10895; and Proclamation 10896 are modified to increase the respective tariff rates from an additional 25 percent ad valorem to an additional 50 percent ad valorem. 
    (2)  The modifications to the HTSUS made by clause 1 of this proclamation shall be effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time on June 4, 2025, and shall continue in effect, unless such actions are expressly reduced, modified, or terminated.
    (3)  Any imports of articles set forth in Annex II to this proclamation that were admitted into a United States foreign trade zone under “privileged foreign status” as defined in 19 CFR 146.41 before 12:01 a.m. eastern daylight time on June 4, 2025, shall be subject upon entry for consumption made on or after 12:01 a.m. eastern daylight time on June 4, 2025, to the provisions of the tariff in effect at the time of the entry for consumption.
    (4)  Any article set forth in Annex I to this proclamation, except those eligible for admission under “domestic status” as defined in 19 CFR 146.43, that is subject to a duty imposed by this proclamation and that is admitted into a United States foreign trade zone on or after June 4, 2025, may be admitted only under “privileged foreign status” as defined in 19 CFR 146.41, and will be subject upon entry for consumption to any ad valorem rates of duty related to the classification under the applicable HTSUS subheading.
    (5)  Effective as of 12:01 a.m. eastern daylight time on June 4, 2025, Executive Order 14289 is amended by revising section 3(a)(ii) to read as follows:  “(ii) An article subject to tariffs pursuant to the actions listed in section 2(d) or 2(e) of this order shall not be subject to additional tariffs on that article pursuant to the actions listed in section 2(b) or 2(c) of this order.”  As set forth in Annex III of this proclamation, this amendment shall be effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time on June 4, 2025, and shall continue in effect, unless such actions are expressly reduced, modified, or terminated.
    (6)  Notwithstanding any prior proclamation or Executive Order, the non-aluminum, non-steel content of all aluminum and steel articles and derivative articles shall be subject to tariffs pursuant to Executive Order 14257 of April 2, 2025 (Regulating Imports With a Reciprocal Tariff To Rectify Trade Practices That Contribute to Large and Persistent Annual United States Goods Trade Deficits), as amended, and any other applicable tariffs.  The additional ad valorem duties described in clause 1 and clause 7 of this proclamation shall apply only to the steel content of articles in Chapter 73 of the HTSUS and only to the aluminum content of articles in Chapter 76 of the HTSUS.  U.S. Customs and Border Protection (CBP) shall issue authoritative guidance mandating strict compliance with declaration requirements for steel and aluminum content in imported articles and outlining maximum penalties for noncompliance, including that importers who submit underreported declarations may be subject to severe consequences, including but not limited to significant monetary penalties, loss of import privileges, and criminal liability, consistent with United States law.
    (7) Notwithstanding clause 1 of this proclamation, the applicable rates of duty for articles of the United Kingdom that would otherwise be applicable pursuant to Proclamation 9704, as amended; Proclamation 9705, as amended; Proclamation 9980, as amended; Proclamation 10895; and Proclamation 10896 shall remain at 25 percent ad valorem.  On or after July 9, 2025, the Secretary may adjust the applicable rates of duty and construct import quotas for steel and aluminum consistent with the terms of the EPD, or he may increase the applicable rates of duty to 50 percent if he determines that the United Kingdom has not complied with relevant aspects of the EPD. 
    (8)  The Secretary shall continue to monitor imports of the articles and derivative articles described in Annexes I and II to this proclamation, and shall, from time to time, in consultation with any senior executive branch officials the Secretary deems appropriate, review the status of such imports with respect to the national security of the United States.  The Secretary shall inform the President of any circumstances that, in the Secretary’s opinion, might indicate the need for further action by the President under section 232.  The Secretary shall also inform the President of any circumstances that, in the Secretary’s opinion, might indicate that the duty rate provided for in this proclamation, or any proclamation issued pursuant thereto, is no longer necessary.
    (9)  No drawback shall be available with respect to the duties imposed pursuant to this proclamation.
    (10)  The Secretary may issue regulations and guidance consistent with this proclamation, including to address operational necessity.
    (11)  The Secretary, in consultation with the United States International Trade Commission and CBP, shall determine whether any modifications to the HTSUS are necessary to effectuate this proclamation and may make such modifications through notice in the Federal Register if needed.
    (12)  CBP may take any necessary or appropriate measures to administer the tariffs imposed by this proclamation.
    (13)  Any provision of previous proclamations and Executive Orders that is inconsistent with the actions taken in this proclamation is superseded to the extent of such inconsistency.

    IN WITNESS WHEREOF, I have hereunto set my hand this
    third day of June, in the year of our Lord two thousand twenty-five, and of the Independence of the United States of America the two hundred and forty-ninth.

                                   DONALD J. TRUMP

    MIL OSI USA News –

    June 4, 2025
  • MIL-OSI USA: Cantwell Says Senate Should Dump House Proposal to Force Millions Off Health Coverage & Endanger Struggling Rural Hospitals

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell
    06.03.25
    Cantwell Says Senate Should Dump House Proposal to Force Millions Off Health Coverage & Endanger Struggling Rural Hospitals
    In WA, Trump’s “Big Beautiful Bill” would compromise health coverage for over 270k people
    WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), senior member of the Senate Finance Committee and ranking member of the Senate Committee on Commerce, Science, and Transportation, joined Senate Majority Leader Chuck Schumer (D-NY) and U.S. Senator Amy Klobuchar (D-MN) for a press conference at the Capitol calling on their Republican colleagues to reject the devastating cuts to Medicaid included in the budget bill that barely passed the House of Representatives last month.
    “If this bill is enacted — reversing the gains of the Affordable Care Act — it will increase our uncompensated care cost. One estimate: $42 billion alone in 2026 of uncompensated care, and $278 billion in uncompensated care increases over a 10-year window,” Sen. Cantwell said.
    “The result in declining revenue would have adverse consequences for at-risk hospitals and rural communities. We have all heard from our rural hospitals warning us about this. How is it that our Republican Senate colleagues are not listening to those rural hospitals?”
    She continued: “Do our Republican colleagues not care about delivery of health care in our rural community and the spillover effect it has to their economies? This is not scare tactics. This is a bill, if enacted, [that] will not result in savings. It will result in an increase in the uninsured. It will result in financial stresses on our system, and it will increase costs on all of us. And yes, it will cost lives.”
    Video of today’s press conference is HERE; audio is HERE; and a transcript of Sen. Cantwell’s remarks is HERE.
    Last month, the U.S. House of Representatives passed a reconciliation bill containing over $700 billion in cuts and significant changes to Medicaid, the federal program that insures many low-income adults and children, pregnant people, seniors, and people with disabilities. 
    Medicaid, known as Apple Health in Washington state, covers over 1.9 million Washingtonians. On May 2, Sen. Cantwell released a snapshot report highlighting the impact that Medicaid cuts would have on Washington state’s highly-ranked long-term care system for seniors and people with disabilities. In February, she released a snapshot report that demonstrated how cuts would harm health care access in Washington state, and she followed up with a report in March that dove into impacts on the Puget Sound region.
    Highlights of those snapshot reports include:
    In Washington state, WA-04 (Central Washington) and WA-05 (Eastern Washington) have the highest proportions of adults and total population on Medicaid (Apple Health). In District 4, 70% of children are on Medicaid.
    In the Puget Sound, children in Seattle’s blue-collar strongholds would feel the deepest pain from Medicaid cuts. More than half of children in Burien, SeaTac, Kent, Federal Way, Auburn, Renton, and Rainier Valley depend on Medicaid.
    In an exclusive new survey of 68 WA nursing homes, 67 of 68 would cut services if Medicaid were cut by 5% or more, and 65% would consider closing.
    Over the past three months, Sen. Cantwell also took a tour around the state to hear from folks who would be directly impacted by cuts to Medicare. Doctors, patients, and health care providers in Seattle, Spokane, the Tri-Cities, and Wenatchee warned that such cuts would devastate Washington state’s health care system and limit access to lifesaving care.
    On May 21, Sen. Cantwell joined Washington state health care professionals for a virtual press conference to highlight statewide alarm and opposition to proposed Medicaid cuts. That same day, 23 Republican members of the Washington state legislature sent a letter to the entire Washington state federal Congressional delegation, urging the delegation to “protect Medicaid funding for Washington State.”
    A full timeline of Sen. Cantwell’s actions to defend Medicaid from cuts is HERE.

    MIL OSI USA News –

    June 4, 2025
  • MIL-OSI USA: Crapo Statement at Executive Session to Consider IRS Commissioner

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo

    Washington, D.C.–U.S. Senate Finance Committee Chairman Mike Crapo (R-Idaho) delivered the following remarks at an executive session to consider the nomination of Billy Long to be Internal Revenue Service (IRS) Commissioner.
    As prepared for delivery:
    “We meet today to consider favorably reporting the nomination of Congressman Billy Long to be Commissioner of the Internal Revenue Service (IRS).
    “As we have done with other nominees, the meeting this morning will provide Members with the opportunity to offer remarks on Congressman Long’s nomination.  We will recess briefly following Member statements and then proceed to this morning’s nominations hearing.  We will notify Members of a time and location later today to conduct the vote on Congressman Long’s nomination. 
    “At his hearing, Congressman Long outlined his vision to transform the IRS through systems modernization, a renewed focus on efficiency and a much-needed change in IRS culture. 
    “If confirmed, I look forward to working with him to ensure the IRS focuses on helping American taxpayers to better understand and meet their tax responsibilities, and that it enforces the law with integrity and fairness to all.
    “I was encouraged to hear Congressman Long clearly commit that ‘the IRS will not, [and] should not, be politicized on my watch.’
    “I’d also like to thank Congressman Long for his time working through the Finance Committee’s rigorous nomination process, in addition to responding to a large amount of questions for the record.  At his hearing, and in his written responses, Congressman Long clearly affirmed that all of his tax consulting work was as an independent contractor for Capitol Edge Strategies.  He never performed work for White River or anyone else regarding Native American tribal tax credits.
    “With respect to the contributions to his Senate campaign, Congressman Long stated time and again that he followed Federal Election Commission (FEC) guidelines.
    “In sum, Congressman Long is uniquely suited to instill needed change at the IRS and I will vote in favor of his nomination.  I encourage my colleagues on both sides of the aisle to do the same.”

    MIL OSI USA News –

    June 4, 2025
  • MIL-OSI: Leading Independent Proxy Advisory Firms Glass Lewis and ISS Recommend that Shareholders Vote “FOR” the Proposed Merger Between PTMN and LRFC

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 03, 2025 (GLOBE NEWSWIRE) — Portman Ridge Finance Corporation (NASDAQ: PTMN) (“Portman Ridge” or “PTMN”) and Logan Ridge Finance Corporation (NASDAQ: LRFC) (“Logan Ridge” or “LRFC”) (together, the “Companies”) announced today that leading independent proxy advisory firms, Institutional Shareholder Services (“ISS”) and Glass, Lewis & Co. (“Glass Lewis”), have both recommended that LRFC stockholders vote “FOR” the proposed merger of LRFC with and into PTMN at the upcoming LRFC special meeting scheduled for June 6, 2025. In addition, ISS and Glass Lewis have both recommended that PTMN stockholders vote “FOR” the proposals related to the proposed merger at the upcoming PTMN special meeting scheduled for June 6, 2025.

    In its May 30, 2025 report, Glass Lewis noted, “We recognize the transaction would consolidate two entities that are managed by affiliated investment advisers, have overlapping portfolios of investments, and similar strategies and risks. The transaction aims at creating an entity with greater scale, a more diversified portfolio and anticipated greater market liquidity, among other benefits. Overall, we believe the entities have presented a reasonable strategic rationale for the proposed merger.” Similarly, in its report dated May 23, 2025, ISS commented, “The strategic rationale appears sound, as the combined company will have increased scale, structural simplification, and more diversification. On balance, in light of the compelling strategic rationale, support for the proposed share issuance is warranted.”

    Ted Goldthorpe, President and Chief Executive Officer of PTMN and LRFC and Head of the BC Partners Credit Platform, stated, “We’re encouraged by the support from both ISS and Glass Lewis, which reflects their alignment with the LRFC and PTMN Boards’ unanimous recommendations to their shareholders to vote in favor of the proposed merger. With PTMN standing as the surviving entity, we believe the combination will enhance PTMN’s scale, increase trading liquidity, further increase portfolio diversification, and will generate meaningful earnings accretion for shareholders, all which pave the way for our future growth initiatives and strengthen our position as a leader in executing strategic growth transactions amongst publicly traded business development companies.”

    With special meetings scheduled for June 6, 2025, both PTMN and LRFC urge their stockholders to attend the meeting and cast their votes by following the instructions outlined in the joint proxy statement. Stockholders of PTMN can also access the virtual meeting and vote by going to the following website: http://www.virtualshareholdermeeting.com/PTMN2025SM, or by calling 1-833-218-3911 and providing the control number which is listed in the proxy card received. Stockholders of LRFC can access the virtual meeting and vote by going to the following website: http://www.virtualshareholdermeeting.com/LRFC2025SM, or by calling 1-833-218-3962 and providing the control number which is listed in the proxy card received.

    Shareholders can access the joint proxy statement and prospectus by clicking HERE. Shareholders who have questions about the joint proxy statement or about voting their shares should contact the companies’ proxy solicitor, Broadridge, at 1-833-218-3911 for PTMN shareholders and 1-833-218-3962 for LRFC shareholders.

    About Portman Ridge Finance Corporation

    PTMN is a publicly traded, externally managed investment company that has elected to be regulated as a business development company (a “BDC”) under the 1940 Act. PTMN’s middle market investment business originates, structures, finances and manages a portfolio of term loans, mezzanine investments and selected equity securities in middle market companies. PTMN’s investment activities are managed by its investment adviser, Sierra Crest.

    PTMN’s filings with the Securities and Exchange Commission (the “SEC”), earnings releases, press releases and other financial, operational and governance information are available on Portman Ridge’s website at www.portmanridge.com.

    About Logan Ridge Finance Corporation

    LRFC is a BDC that invests primarily in first lien loans and, to a lesser extent, second lien loans and equity securities issued by lower middle-market companies. LRFC invests in performing, well-established middle-market businesses that operate across a wide range of industries. It employs fundamental credit analysis, targeting investments in businesses with relatively low levels of cyclicality and operating risk. For more information, visit www.loganridgefinance.com.

    Cautionary Statement Regarding Forward-Looking Statements

    Some of the statements in this communication constitute forward-looking statements because they relate to future events, future performance or financial condition. The forward-looking statements may include statements as to future operating results of PTMN and LRFC, and distribution projections; business prospects of PTMN and LRFC, and the prospects of their portfolio companies; and the impact of the investments that PTMN and LRFC expect to make. In addition, words such as “anticipate,” “believe,” “expect,” “seek,” “plan,” “should,” “estimate,” “project” and “intend” indicate forward-looking statements, although not all forward-looking statements include these words. The forward-looking statements contained in this communication involve risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected, including the uncertainties associated with (i) the ability of the parties to consummate the merger on the expected timeline, or at all; (ii) the expected synergies and savings associated with the merger; (iii) the ability to realize the anticipated benefits of the merger, including the expected elimination of certain expenses and costs due to the merger; (iv) the percentage of PTMN shareholders and LRFC shareholders voting in favor of the applicable Proposal (as defined below) submitted for their approval; (v) the possibility that competing offers or acquisition proposals will be made; (vi) the possibility that any or all of the various conditions to the consummation of the merger may not be satisfied or waived; (vii) risks related to diverting management’s attention from ongoing business operations; (viii) the combined company’s plans, expectations, objectives and intentions, as a result of the merger; (ix) any potential termination of the merger agreement; (x) the future operating results and net investment income projections of PTMN, LRFC or, following the closing of the merger, the combined company; (xi) the ability of Sierra Crest to implement its future plans with respect to the combined company; (xii) the ability of Sierra Crest and its affiliates to attract and retain highly talented professionals; (xiii) the business prospects of PTMN, LRFC or, following the closing of the merger, the combined company, and the prospects of their portfolio companies; (xiv) the impact of the investments that PTMN, LRFC or, following the closing of the merger, the combined company expect to make; (xv) the ability of the portfolio companies of PTMN, LRFC or, following the closing of the merger, the combined company to achieve their objectives; (xvi) the expected financings and investments and additional leverage that PTMN, LRFC or, following the closing of the merger, the combined company may seek to incur in the future; (xvii) the adequacy of the cash resources and working capital of PTMN, LRFC or, following the closing of the merger, the combined company; (xviii) the timing of cash flows, if any, from the operations of the portfolio companies of PTMN, LRFC or, following the closing of the merger, the combined company; (xix) the risk that stockholder litigation in connection with the merger may result in significant costs of defense and liability; and (xx) future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities). PTMN and LRFC have based the forward-looking statements included in this document on information available to them on the date hereof, and they assume no obligation to update any such forward-looking statements. Although PTMN and LRFC undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that they may make directly to you or through reports that PTMN and LRFC in the future may file with the SEC, including the Registration Statement and Joint Proxy Statement (in each case, as defined below), annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.

    No Offer or Solicitation

    This communication is not, and under no circumstances is it to be construed as, a prospectus or an advertisement and the communication is not, and under no circumstances is it to be construed as, an offer to sell or a solicitation of an offer to purchase any securities in PTMN, LRFC or in any fund or other investment vehicle managed by BC Partners or any of its affiliates.

    Additional Information and Where to Find It

    This communication relates to the proposed merger of PTMN and LRFC and certain related matters (the “Proposals”). In connection with the Proposals, PTMN has filed a registration statement (Registration No. 333-285230) with the SEC (the “Registration Statement”) that contains a combined joint proxy statement for PTMN and LRFC and a prospectus of PTMN (the “Joint Proxy Statement”) and has mailed the Joint Proxy Statement to its and LRFC’s respective shareholders. The Registration Statement and Joint Proxy Statement will contain important information about PTMN, LRFC and the Proposals. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. SHAREHOLDERS OF PTMN AND LRFC ARE URGED TO READ THE REGISTRATION STATEMENT, JOINT PROXY STATEMENT AND OTHER DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT PTMN, LRFC AND THE PROPOSALS. Investors and security holders will be able to obtain the documents filed with the SEC free of charge at the SEC’s website, http://www.sec.gov or, for documents filed by PTMN, from PTMN’s website at https://www.portmanridge.com, and, for documents filed by LRFC, from LRFC’s website at https://www.loganridgefinance.com.

    Participants in the Solicitation

    PTMN, its directors, certain of its executive officers and certain employees and officers of Sierra Crest and its affiliates may be deemed to be participants in the solicitation of proxies in connection with the Proposals. Information about the directors and executive officers of PTMN is set forth in its proxy statement for its 2025 Annual Meeting of Stockholders, which was filed with the SEC on April 29, 2025. LRFC, its directors, certain of its executive officers and certain employees and officers of Mount Logan and its affiliates may be deemed to be participants in the solicitation of proxies in connection with the Proposals. Information about the directors and executive officers of LRFC is set forth in the Annual Report on Form 10-K/A, which was filed with the SEC on April 29, 2025. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the PTMN and LRFC shareholders in connection with the Proposals will be contained in the Registration Statement, including the Joint Proxy Statement included therein, and other relevant materials when such documents become available. These documents may be obtained free of charge from the sources indicated above.

    Contacts:
    Portman Ridge Finance Corporation
    650 Madison Avenue, 3rd floor
    New York, NY 10022

    Logan Ridge Finance Corporation
    650 Madison Avenue, 3rd floor
    New York, NY 10022

    Brandon Satoren
    Chief Financial Officer (PTMN and LRFC)
    Brandon.Satoren@bcpartners.com
    (212) 891-2880

    The Equity Group Inc.
    Lena Cati
    lcati@equityny.com
    (212) 836-9611

    Val Ferraro
    vferraro@equityny.com
    (212) 836-9633

    The MIL Network –

    June 4, 2025
  • MIL-OSI: Diversified Royalty Corp. Announces June 2025 Cash Dividend

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, June 03, 2025 (GLOBE NEWSWIRE) — Diversified Royalty Corp. (TSX: DIV and DIV.DB.A) (the “Corporation” or “DIV”) is pleased to announce that its board of directors has approved a cash dividend of $0.02083 per common share for the period of June 1, 2025 to June 30, 2025, which is equal to $0.25 per common share on an annualized basis. The dividend will be paid on June 30, 2025 to shareholders of record as of the close of business on June 13, 2025.

    About Diversified Royalty Corp.

    DIV is a multi-royalty corporation, engaged in the business of acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America. DIV’s objective is to acquire predictable, growing royalty streams from a diverse group of multi-location businesses and franchisors.

    DIV currently owns the Mr. Lube + Tires, AIR MILES®, Sutton, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions and BarBurrito trademarks. Mr. Lube + Tires is the leading quick lube service business in Canada, with locations across Canada. AIR MILES® is Canada’s largest coalition loyalty program. Sutton is among the leading residential real estate brokerage franchisor businesses in Canada. Mr. Mikes operates casual steakhouse restaurants primarily in western Canadian communities. Nurse Next Door is a home care provider with locations across Canada and the United States as well as in Australia. Oxford Learning Centres is one of Canada’s leading franchisee supplemental education services. Stratus Building Solutions is a leading commercial cleaning service franchise company providing comprehensive janitorial, building cleaning, and office cleaning services primarily in the United States. BarBurrito is the largest quick service Mexican restaurant food chain in Canada.

    DIV’s objective is to increase cash flow per share by making accretive royalty purchases and through the growth of purchased royalties. DIV intends to continue to pay a predictable and stable monthly dividend to shareholders and increase the dividend over time, in each case as cash flow per share allows.

    Forward Looking Statements

    Certain statements contained in this news release may constitute “forward-looking information” within the meaning of applicable securities laws that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “intend”, “may”, “will”, ”project”, “should”, “believe”, “confident”, “plan” and “intends” and similar expressions are intended to identify forward-looking information, although not all forward-looking information contains these identifying words. Specifically, forward-looking information in this news release includes, but is not limited to, statements made in relation to: the amount and timing of the June 2025 dividend to be paid to DIV’s shareholders; DIV’s objective to continue to pay predictable and stable monthly dividends to shareholders; and DIV’s corporate objectives. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events, performance, or achievements of DIV to differ materially from those anticipated or implied by such forward-looking information. DIV believes that the expectations reflected in the forward-looking information included in this news release are reasonable but no assurance can be given that these expectations will prove to be correct. In particular there can be no assurance that: DIV will be able to make monthly dividend payments to the holders of its common shares; or DIV will achieve any of its corporate objectives. Given these uncertainties, readers are cautioned that forward-looking information included in this news release are not guarantees of future performance, and such forward-looking information should not be unduly relied upon. More information about the risks and uncertainties affecting DIV’s business and the businesses of its royalty partners can be found in the “Risk Factors” section of its Annual Information Form dated March 24, 2025 and in its most recent Management’s Discussion and Analysis, copies of each of which are available under DIV’s profile on SEDAR+ at www.sedarplus.com.

    In formulating the forward-looking information contained herein, management has assumed that, among other things, DIV will generate sufficient cash flows from its royalties to service its debt and pay dividends to shareholders; the business and economic conditions affecting DIV and its royalty partners will continue substantially in the ordinary course, including without limitation with respect to general industry conditions, general levels of economic activity and regulations. These assumptions, although considered reasonable by management at the time of preparation, may prove to be incorrect.

    All of the forward-looking statements made in this news release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, DIV. The forward-looking information included in this news release is presented as of the date of this news release and DIV assumes no obligation to publicly update or revise such information to reflect new events or circumstances, except as may be required by applicable law.

    THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.

    Additional Information

    Additional information relating to the Corporation and other public filings, is available on SEDAR+ at www.sedarplus.com.

    Contact:
    Sean Morrison, President and Chief Executive Officer
    Diversified Royalty Corp.
    (236) 521-8470

    Greg Gutmanis, Chief Financial Officer and VP Acquisitions
    Diversified Royalty Corp.
    (236) 521-8471

    The MIL Network –

    June 4, 2025
  • MIL-OSI Global: Chagos islands: how Mauritius can turn a diplomatic triumph into real economic growth

    Source: The Conversation – Global Perspectives – By Dev K (Roshan) Boojihawon, Associate professor of Strategy and International Business, University of Birmingham

    The decades-long Chagos islands dispute has finally entered a new chapter. The UK officially agreed to return the sovereignty of the archipelago to Mauritius.

    The Indian Ocean islands are strategically situated near key shipping lanes and regional power hubs.

    Mauritius was granted independence from British colonial rule in 1968. But not the Chagos islands, which had been part of Mauritius but became a new colonial territory. The residents of the largest island in the archipelago, Diego Garcia, were forced off the land. This was used as a base to support US military operations.




    Read more:
    Mauritius’ next growth phase: a new plan is needed as the tax haven era fades


    Now Mauritius has regained control over the islands while leasing Diego Garcia to the UK for a 99-year period for US$136 million a year. This gives the UK (and its ally the US) access to a vital maritime corridor for global trade and power projection.

    But now that the deal has been signed, there’s a more pressing question. Can Mauritius use it as the foundation for justice and economic progress?

    As scholars of strategic economic development we often focus on Africa and Mauritius in particular. We believe the agreement marks an important geopolitical moment. It rights a colonial wrong, honours international justice and cements Mauritius’s global standing.

    It also presents an opportunity to fund inclusive development and sustainability initiatives for Mauritius. It could boost investments in education, health and infrastructure. It could also support the resettlement of displaced Chagossians, and advance marine conservation, renewable energy and climate resilience programmes in the archipelago.

    Aerial view of Diego Garcia and the Chagos archipelago.
    NASA/Wikimedia Commons

    The real challenge facing the Mauritian government is how to turn a diplomatic triumph into tangible national progress. We argue that what’s needed is a forward looking and inclusive strategy.

    The development challenge

    Reparations can offer short-term financial relief. But without visionary planning, there’s a risk of these funds being absorbed into recurrent government spending. Or used for symbolic programmes with limited structural and socio-economic impact.

    The real value lies in what Mauritius does next. Investment in strategic sectors such as the blue economy, renewable energy, digital infrastructure and sustainable tourism is the key.

    Investment should strengthen partnerships with regional neighbours, international donors, and strategic allies like the US, China and India. Mauritius must position itself as a forward-looking state with global relevance.




    Read more:
    How the US and UK worked together to recolonise the Chagos Islands and evict Chagossians


    The reparations should be treated as seed funding to invest in its own future. This means using the funds to drive bold, long-term transformation. The country needs to build a more resilient, innovative and globally competitive economy.

    Mauritius is heavily reliant on offshore services and short-term fiscal gains. It is vulnerable to slow diversification, rising youth unemployment, climate-related risks, lagging digital and technological progress, and growing global scrutiny of its financial sector.

    To remain competitive in the current volatile global context, the country must develop more broadly.

    3 steps to take

    1. Investment

    Mauritius has historically relied on external financial inflows like tourism revenue, offshore finance and foreign aid. By channelling funds into capacity-building, skills development and innovation ecosystems, the country can cultivate a self-sustaining economy. This would position it better to seize opportunities in the green economy, digital transformation and knowledge-intensive industries.

    More specifically, it needs to:

    • secure investment in green energy, AI-digital infrastructure and high-tech manufacturing

    • offer tax incentives and streamlined regulatory processes to attract foreign direct investment in these sectors

    • establish public-private partnerships to develop innovation hubs and research centres focused on emerging technologies

    • launch workforce development programmes to upskill the labour force.

    2. Economic diplomacy, alliances and regional leverage

    The government should forge stronger partnerships with the UK and the US. Key areas include defence, cybersecurity, climate and sustainability innovations and regional logistics infrastructure.

    It needs strong ties as power blocs shift and competition over strategic resources and trade routes grows.

    Joint military exercises and intelligence sharing could improve forces’ ability to help each other. Investing in advanced cyber defence capabilities, for instance, can help counter emerging digital threats, such as data breaches affecting financial services and e-governance systems.

    These steps would bolster national security and reinforce Mauritius’ position as a reliable partner.

    The resolution of the Chagos dispute provides an opportunity for Mauritius to use its geopolitical position. It could expand trade, diplomatic influence and strategic partnerships across Africa, Asia and beyond.

    Being located between Africa, the Middle East, South Asia and Southeast Asia places it along major maritime trade routes.

    Mauritius enjoys political stability, democratic governance and strong legal framework. It is well placed to help resolve regional disputes over maritime boundary conflicts, fishing rights, and freedom of navigation. These involve countries like India, Sri Lanka and Madagascar, and even China and the US.

    It can also lead in developing shared logistics and resupply hubs to support regional trade, disaster response and maritime security operations.

    3. Chagossian justice

    Mauritius must make the Chagossian community part of its next national success story. Including them in economic plans is a legal, moral and strategic necessity.

    Steps should include:

    • incorporating Chagos representatives in economic discussions and decision-making processes

    • establishing programmes for Chagossian cultural preservation and economic development

    • giving Chagossians a voice in shaping the future of their ancestral lands.

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

    – ref. Chagos islands: how Mauritius can turn a diplomatic triumph into real economic growth – https://theconversation.com/chagos-islands-how-mauritius-can-turn-a-diplomatic-triumph-into-real-economic-growth-257774

    MIL OSI – Global Reports –

    June 4, 2025
  • MIL-OSI Global: ‘That was rude’: why the new Broadway musical Death Becomes Her was ripe for TikTok memes

    Source: The Conversation – Global Perspectives – By Gregory Camp, Senior Lecturer, School of Music, University of Auckland, Waipapa Taumata Rau

    A few snippets of musicalised dialogue from the cast album of the new Broadway musical Death Becomes Her – with music and lyrics by Julia Mattison and Noel Carey, and a book by Marco Pennette – have recently become trending sonic memes on TikTok.

    In all sorts of situations, users are lip synching to audio clips of Broadway star Jennifer Simard, in the character of Helen Sharp (played by Goldie Hawn in the 1992 cult film on which the musical is based), saying things like “That was rude. That was pretty fuckin’ rude” and “She stole my life. She made me cuckoo. She’s why I spent four years locked in that health spa.”

    Musical theatre fans love a good meme (scholar Trevor Boffone has written a whole book about the phenomenon) and Death Becomes Her is primed to create a lot of them: a show featuring two divas (played by Simard and Megan Hilty as Madeleine Ashton, Meryl Streep’s role in the movie) based on a cult film about divas begs to be shaped and reshaped by fan culture.

    Helen and Madeleine are longtime rivals who both take a magic potion that makes them immortal. This leads them to find increasingly extravagant ways to try and do away with each other, with the help of Helen’s put-upon husband Ernest (Christopher Sieber), a plastic surgeon who reluctantly falls into the role of restoring their bodies after each “accident”.

    Some of Hilty’s clips have also been TikTok-ified (notably Tell Me, Earnest) but Simard is winning the numbers game. Her “That was rude” clip alone has 321,000 videos and counting.

    Finding the patter

    There seem to be two main reasons for the attraction of these clips. First is Simard’s delivery of the words. Simard is a longstanding Broadway star and an expert at musical comedy timing.

    Second is the rhythmic quality of the dialogue. Not fully sung, these bits are spoken in mostly strict rhythm over orchestral accompaniment. That they have become such earworms demonstrates it is not only melody that burrows into the brain, but also rhythmic contour.

    There is a long history of this style of speak-singing in musical theatre, notably popularised in the late 1950s by Robert Preston in The Music Man and Rex Harrison in My Fair Lady.

    Neither of those actors was a strong singer, but both had excellent timing and were able to deliver spoken lines above music with a strong sense of musicality.

    Simard is an excellent singer with a very wide range, but the comic role of Helen – ever the underdog to her rival famous actress Madeleine – lends itself to this style of heightened speech.

    Most effective rhythmically, and the most popular excerpt, is the “That was rude” meme, where Simard begins slowly without accompaniment; the bass comes in on “rude” and sets a groove for the rest of the short excerpt.

    This one has been used in every possible situation, from responses to nasty notes left on people’s cars to complaints about incorrect drink orders. Some of the TikTokers refer to Simard in on-screen text, but this one seems to have become popular outside any specific reference to the show, in a truly viral moment.

    Ripe for the lip-sync

    The lengthiest of the trending excerpts is the one that begins with “We talked about killing her before”, which sets off a monologue about Helen’s plan to do away with Madeline once and for all.

    This is a tour de force for Simard’s comic timing, as it begins in free rhythm and then gradually takes on a more consistent beat. TikTokers are tending to use this one primarily as a demonstration of their lip-syncing skills, as opposed to the other shorter clips that are applied in different ironic situations.

    This trend also shows the continuing importance of the cast album in musical theatre culture. The majority of TikTokers probably have not seen the show, currently only playing on Broadway with high ticket prices. Yet the cast album (easily available on all the main streaming sites) gives access.

    The fact these clips come from a cast album also more easily allows fans to create their own visuals around it. Unless they actually saw the show they only have production photographs and short publicity clips (and the occasional shaky bootleg or slime tutorial) to go on in terms of what it looks like.

    Audio from a source like the soundtrack of the Wicked movie has not led to so many lip-sync videos because the visual track is so readily accessible; as a film, Wicked’s visuals define its audio while a cast album can more easily work the other way round.

    Beyond Broadway

    I saw Death Becomes Her on Broadway in January and enjoyed it. It’s a fun show full of special effects and comic bits. The score is serviceable (it’s not Sondheim), but it is catchy – very important for its use in these TikTok trends – and well performed by Simard and the rest of the cast.

    This whole phenomenon demonstrates that the current cultural sphere of “Broadway” extends well beyond the street itself. This has been the case at least since the rise of the cast album in the 1950s (My Fair Lady’s was the best-selling LP of 1956), but now the reach is intensified by social media spaces like TikTok; you don’t have to have actually seen Death Becomes Her to experience it.

    Gregory Camp 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. ‘That was rude’: why the new Broadway musical Death Becomes Her was ripe for TikTok memes – https://theconversation.com/that-was-rude-why-the-new-broadway-musical-death-becomes-her-was-ripe-for-tiktok-memes-257550

    MIL OSI – Global Reports –

    June 4, 2025
  • MIL-OSI: Western New England Bancorp, Inc. Announces Completion of 2024 Repurchase Plan

    Source: GlobeNewswire (MIL-OSI)

    WESTFIELD, Mass., June 03, 2025 (GLOBE NEWSWIRE) — Western New England Bancorp, Inc. (the “Company” or “WNEB”) (NasdaqGS: WNEB), the holding company for Westfield Bank (the “Bank”), announced that on May 30, 2025, the Company completed all repurchases under its existing stock repurchase plan (the “2024 Repurchase Plan”) at an average price per share of $8.79. The 2024 Repurchase Plan authorized the Company to repurchase a total of 1.0 million shares of the Company’s common stock, or approximately 4.6% of the Company’s then-outstanding shares of common stock. The Board of Directors authorized the 2024 Repurchase Plan on May 21, 2024.

    On April 22, 2025, the Board of Directors of the Company authorized a new stock repurchase plan, pursuant to which the Company may repurchase up to 1.0 million shares, or approximately 4.8% of the Company’s outstanding shares of common stock, upon the completion of the 2024 Repurchase Plan.

    James C. Hagan, President and Chief Executive Officer, commented, “We are pleased to announce the completion of our 2024 Repurchase Plan. We believe that share repurchases are a prudent use of the Company’s capital and demonstrate our commitment to effectively manage the Company’s capital levels, while increasing total shareholder returns through stock repurchases as well as cash dividends.”

    The Company may repurchase shares from time to time in open market transactions or through privately negotiated transactions at the Company’s discretion or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. The amount, timing and nature of any share repurchases will be based on a variety of factors, including the trading price of the Company’s common stock, applicable securities laws restrictions, regulatory limitations and market and economic factors. The repurchase program may be modified, suspended or discontinued at any time, at the Company’s discretion.

    About Western New England Bancorp, Inc.

    Western New England Bancorp, Inc. is a Massachusetts-chartered stock holding company and the parent company of Westfield Bank, CSB Colts, Inc., Elm Street Securities Corporation, WFD Securities, Inc. and WB Real Estate Holdings, LLC. Western New England Bancorp, Inc. and its subsidiaries are headquartered in Westfield, Massachusetts and operate 25 banking offices throughout western Massachusetts and northern Connecticut. To learn more, visit our website at www.westfieldbank.com.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to the Company’s financial condition, liquidity, results of operations, future performance, and business. Forward-looking statements may be identified by the use of such words as “believe,” “expect,” “anticipate,” “should,” “planned,” “estimated,” and “potential.” Examples of forward-looking statements include, but are not limited to, estimates with respect to our financial condition, results of operations and business that are subject to various factors which could cause actual results to differ materially from these estimates. 

    Although we believe that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from the results discussed in these forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors discussed under the caption “Risk Factors” in Western New England Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2024 and in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025. We do not undertake any obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except to the extent required by law.

    For further information contact:
    James C. Hagan, President and Chief Executive Officer
    Guida R. Sajdak, Executive Vice President and Chief Financial Officer
    Meghan Hibner, First Vice President and Investor Relations Officer
    413-568-1911

    The MIL Network –

    June 4, 2025
  • MIL-Evening Report: In the trade wars, there are lessons for the US from Brexit. Australia and our trading partners should take note

    Source: The Conversation (Au and NZ) – By Peter Draper, Professor, and Executive Director: Institute for International Trade, and Director of the Jean Monnet Centre of Trade and Environment, University of Adelaide

    General_4530/Getty

    While the Trump administration’s on-again, off-again trade wars wreak havoc on the business plans of the world’s exporters, the risks to the global economy continue to grow.

    The self-inflicted scale of disruption to global trade patterns is enormous. Yet there are echoes with the United Kingdom’s experience of Brexit, both for the United States economy now and its trading partners worried about their trading futures.

    Fortunately, while it is painful, Trump’s push toward economic isolationism brings opportunities for other trading nations to strengthen their ties.

    This is especially the case in our Indo-Pacific region, where Australia is looking to new trade partners and deepening existing ties.

    The economic consequences of Brexit

    The UK economy is relatively diminished since 2016, when David Cameron, as Prime Minister, called the Brexit referendum on whether to leave the European Union.

    A study of UK businesses found three key impacts in the three years before formal Brexit took place in 2020:

    1. the UK’s decision to leave the European Union generated major, sustained, uncertainty for the business community. Since business invests and trades, that was highly consequential
    2. anticipation of Brexit gradually reduced investment by about 11% between 2016 and 2019
    3. Brexit reduced UK productivity by between 2% and 5%.

    A new report establishes that since 2020, when formal Brexit took place, the UK is experiencing its worst trade slump in a generation. This decline contrasts with growing trade in other industrial nations, indicating the COVID pandemic was not to blame.

    Harsh lessons in bargaining power

    The EU did not change to suit the UK. Rather, because of the EU’s influential role in regulation known as the “Brussels effect”, the UK must realign with EU standards to win back market access.

    For decades, the UK had ceded its trade bargaining capacity to Brussels. It was always on the back foot as its inexperienced negotiators locked horns with seasoned EU trade diplomats.

    The British also learned that outside the EU, their relative trade bargaining power, as well as foreign policy prestige, was much diminished. Many countries focused on dealing with the EU without the UK’s involvement.

    Overall, it is difficult to escape the conclusion that Brexit hastened the UK’s inexorable transformation from “Great” to “Little” Britain.

    MAGA echoes

    The Brexiteers were motivated by free trade and the belief EU trade policies prevented the UK from more liberalisation.

    Trump’s decision to disentangle the US from world trade is motivated by protectionist desires, in the mistaken belief blocking imports will “Make America Great Again”.

    Like the Brexiteers, Trump will find business confidence will diminish and the US economy will be worse off. Data this week showed US manufacturing contracted for the third straight month in May amid tariff-induced supply chain delays.

    Just like the UK, US economic decline relative to its trading partners will accelerate.

    Obviously, a huge difference between British folly and US hubris is that the US has market and geopolitical power in most of its bilateral negotiations, whereas the UK did not.

    Yet, whereas the Trump administration assumes the US is the more powerful party in all reciprocal tariff negotiations, it is now learning that some major trading powers (China, the EU, India), and even some middle powers (Canada, Mexico, Australia), will not simply roll over when faced with overt coercion.

    Moreover, as Great Britain learned to its cost, the US will find its soft power rapidly diminishing, and foreign policy objectives more difficult to attain. US allies, while in some cases in need of weaning themselves from over-dependence on the US military umbrella, are now actively hedging their security bets.

    What should trading partners do?

    There is an opening for Australia to seize the moment with new trade partnerships, and by deepening existing relationships.

    We have a golden opportunity in our chairmanship of the 12-nation Comprehensive and Progressive Agreement for Trans Pacific Partnership group this year.

    This high-standards, deeply liberalising, trade agreement is a gold standard template to anchor our global trading partnerships. Members include Canada, Japan, Mexico, Singapore and the UK and representatives will be meeting in Brisbane next week.

    Specifically, Australia, our trans-Pacific partners and the EU need to agree to work collaboratively to converge on modern trade rules and support for free trade. Then take those accords into the World Trade Organization to strengthen and revitalise the institution, with or without the US.

    In addition, we need to quickly conclude both the stalled bilateral free-trade agreement with the EU, and the second phase of our trade agreement with India. This would cement two huge new markets of sufficient existing (EU) and potential (India) scale to rival both the US and Chinese markets.

    Finally, we need to double down on our existing trade partnerships with Southeast Asian countries, anchoring on the 10-member Association of Southeast Asian Nations (ASEAN). This will bolster ASEAN-centrality in regional trade arrangements and balance both US withdrawal and China’s advance into the region.

    While this will not be easy, the effort has to be made and needs to start now.

    Peter Draper 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. In the trade wars, there are lessons for the US from Brexit. Australia and our trading partners should take note – https://theconversation.com/in-the-trade-wars-there-are-lessons-for-the-us-from-brexit-australia-and-our-trading-partners-should-take-note-257555

    MIL OSI Analysis – EveningReport.nz –

    June 4, 2025
  • MIL-Evening Report: With a government review underway, we have to ask why children bully other kids

    Source: The Conversation (Au and NZ) – By Marilyn Campbell, Professor, School of Early Childhood & Inclusive Education, Queensland University of Technology

    Rawpixel.com/Shutterstock

    The federal government has launched a “rapid review” to look at what works to prevent bullying in schools.

    Led by mental health experts, the review will underpin a new national standard to respond to bullying. This follows the death of a young Sydney school student last year.

    It also comes as the Queensland government rolls out a A$33 million anti-bullying plan in the state’s schools.

    As schools, parents and governments look at what more can be done to prevent bullying, we have to ask why children bully other kids.

    If we understand the motives, we can help these children change their behaviour – and achieve their goals or have their needs met in other ways.




    Read more:
    What can you do if your child is being bullied?


    What lies behind bullying?

    Research tells us children broadly bully for social reasons. For example, a 2022 study showed children can bully to gain social status among peers – to be seen as powerful, tough or cool. Or they can bully to maintain status as part of an in-group. Perhaps another child is seen as a “threat” to that status.

    Children can also bully for revenge for perceived insults. Or for entertainment – making a joke at another student’s expense.

    Research shows motivations can also differ depending on the type of bullying. For example, face-to-face bullying seems to involve more children who bully for social dominance, while those who cyberbully do it more for entertainment and “fun”.

    In a 2014 study, Marilyn Campbell and colleagues asked different groups about their perceptions of why young people engaged in cyber-bullying. Parents said children did it out of revenge for being bullied themselves, teachers said students did it for fun, and students thought others cyber-bullied because of peer pressure.

    This highlights how complex understanding children’s motives can be.




    Read more:
    Why do kids bully? And what can parents do about it?


    Children may not bully for long

    We should be careful about thinking of all students who bully as long-term “bullies”.

    Most children who bully try the behaviour and stop when it does not get them what they want, just as many children who are victimised are not bullied for long.

    Though of course, even being bullied for a short time can still be damaging and traumatic for the student on the receiving end.

    This could suggest there is a developmental phase in bullying as most bullying occurs between children in Year 6 through to Year 10.

    However, there are those students who persistently bully others and these are the students whose behaviour remains a problem despite interventions and prevention approaches.

    Who is more likely to bully?

    There are certain personality types who are more likely to persistently bully others. These include:

    • students with defensive personalities. This means they think very highly of themselves and actively seek attention but can’t take criticism

    • students with narcissistic personalities, who are likely to become aggressive when their egos are threatened

    • students who are emotionally unstable.

    But research is mixed on the question of self-esteem. Some researchers say children who bully have high self-esteem, yet others have found they have low self-esteem.

    There are many reasons why a child might develop the personality traits that would lead them to bully.

    Physical abuse in childhood can play a role. There is an association between a child being exposed to domestic violence at home and then bullying their peers.

    Parenting can also be a factor. For example, being overvalued but not well disciplined by parents can lead to higher traits of narcissism and a greater likelihood a child will bully.

    What can we do?

    Children who persistently bully may require targeted and nuanced approaches. Current approaches emphasise restoring positive relationships, rather than punishments or sanctions.

    One approach is individual motivational interviewing. Here a school counsellor shows young people they can achieve their goals by other means. This encourages perpetrators to see there are more benefits in not bullying than in bullying. For example, “I want to be popular. But if I bully, I also make other kids scared of me and not want to hang around me.”

    More broadly, schools can also teach explicit programs on social and emotional learning.




    Read more:
    Schools today also teach social and emotional skills. Why is this important? And what’s involved?


    These programs focus on emotional intelligence and emotional literacy, enabling students to recognise and manage their emotions, understand the perspectives of others and have positive relationships with peers.

    Schools which respect the diversity of students, are also better placed to address bullying. If all students have opportunities to participate in learning, it will develop their sense of belonging to their school community. This not only decreases rates of bullying but supports students who have been victimised.


    If this article has raised issues for you, or if you’re concerned about someone you know, call Lifeline on 13 11 14 or Kids Helpline on 1800 55 1800.

    Marilyn Campbell receives funding from the Australian Research Council and other government grants. .

    Shannon O’Brien 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. With a government review underway, we have to ask why children bully other kids – https://theconversation.com/with-a-government-review-underway-we-have-to-ask-why-children-bully-other-kids-257643

    MIL OSI Analysis – EveningReport.nz –

    June 4, 2025
←Previous Page
1 … 581 582 583 584 585 … 2,041
Next Page→
NewzIntel.com

NewzIntel.com

MIL Open Source Intelligence

  • Blog
  • About
  • FAQs
  • Authors
  • Events
  • Shop
  • Patterns
  • Themes

Twenty Twenty-Five

Designed with WordPress