NewzIntel.com

Category: Business

  • MIL-OSI Economics: Airbus to acquire DSI Datensicherheit, a leading European provider of Cryptography systems for space applications

    Source: Airbus

    Headline: Airbus to acquire DSI Datensicherheit, a leading European provider of Cryptography systems for space applications

    Airbus Defence and Space has announced the acquisition of DSI Datensicherheit GmbH (DSI DS), a German-based company that provides cryptography and communication systems for Space, Airborne and Naval & Ground that is certified by the Federal Office for Information Security (BSI). The acquisition follows a longstanding partnership between the two companies. DSI DS will be fully owned by the Airbus Defence and Space GmbH and operate under a new name, Aerospace Data Security GmbH. This will further strengthen Airbus’ cryptography capabilities and enhance the development of end-to-end secured systems.

    MIL OSI Economics –

  • MIL-OSI China: China expands visa-free access for Latin America to boost trade ties

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

    For the first time since 2017, Peruvian national Marcel Sanchez Lopez is preparing to return to China, this time, unburdened by the once-cumbersome entry procedures.

    “Even as a CEO of a big company, I used to feel that going to China was like facing a sea of troubles,” said Marcel Sanchez, who leads a major energy firm with longstanding ties to Chinese gas equipment supplier Tianjin Sinogas Repower Energy Co., Ltd. “Now that it’s visa-free, I’m bringing my family for both business and sightseeing.”

    Starting June 1, 2025, citizens of Brazil, Argentina, Peru, Chile, and Uruguay will be allowed to enter China without a visa for up to 30 days for business, tourism, cultural exchange, or transit. The policy, which will run on a trial basis until May 31, 2026, was announced recently by the Chinese foreign ministry.

    Unveiled at the fourth ministerial meeting of the China-CELAC (the Community of Latin American and Caribbean States) Forum in Beijing earlier this month, this policy aligns with China’s broader initiative to extend visa exemptions and foster friendly exchanges with more Latin American and Caribbean countries (LAC countries).

    For Chinese companies with trade ties in the region, the measure is viewed as a long-awaited step toward meaningful cooperation. “It solves a real bottleneck in our business operations,” said Ryan Yang, general manager of Sinogas, a Tianjin-based energy technology firm exporting to Mexico, Colombia, Peru, Chile, and Brazil. “Clients can now come for factory inspections, product demos, and training sessions without weeks or months of visa delays.”

    Marcel Sanchez, whose company began working with Sinogas eight years ago, said visa constraints often hindered cooperation. “In the past, we had to skip business trips and just rely on remote support from our Chinese partner. Now we can do face-to-face collaboration again, and that’s where real progress happens,” he added.

    China’s continued expansion of its visa-free policy and efforts to facilitate entries send a clear signal of the country’s commitment to high-standard opening up, according to Yu Haibo, an associate professor specializing in tourism management at Tianjin-based Nankai University.

    These measures demonstrate China’s resolve and efforts to promote a more dynamic, inclusive and resilient form of economic globalization, Yu noted.

    Trade between China and LAC nations has doubled over the past decade, reaching 518.4 billion U.S. dollars in 2024. Chinese products, including its signature electric vehicles, are exported extensively to LAC countries, while goods originating from the region also enjoy popularity in China. Notably, Chilean cherries and Argentine beef have become regular staples in the diets of Chinese households.

    Sun Yanfeng, a researcher at the Institute of Latin American Studies under the China Institutes of Contemporary International Relations, noted that Latin American countries are eager to boost exports through their economic and trade ties with China. The visa-free policy, he added, will greatly facilitate visits by Latin American entrepreneurs, especially those from small and medium-sized enterprises, by simplifying travel procedures.

    Tianjin Free Trade Service Co., Ltd., a major service provider for thousands of small and medium-sized exporters, has business development teams preparing for more inbound visits. “This policy will bring Latin American partners to our doorstep,” said Du Chen, a manager at the company. “Without the visa hurdles, people are more willing to come, to see, and to trust.”

    Elizabeth Milagros Alvarado Taco, a Peruvian graduate student majoring in international business at Tianjin Foreign Studies University, said the visa-free policy will accelerate business activities, making it easier for Latin American entrepreneurs and businessmen to come to China for negotiations, factory visits, or trade fairs.

    “It can also facilitate the rotation of international teams, improve coordination of multinational projects, and reduce costs and processing time. Overall, this convenience will promote bilateral investment and corporate cooperation,” she said. 

    MIL OSI China News –

  • MIL-OSI Russia: Financial News: Spectra 8.3 Derivatives Market Changelog Update

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    In continuation of developer news #57 and #63, we inform you that in the list of changes to the Spectra Trading System version 8.3, item 1.5.2 has been edited and a new item 4 has been added. Changes have also been made to the documentation. We ask you to refer to the data from the updated list of changes when developing your applications.

    Contents of the change to paragraph 1.5.2:

    To publish slices of active requests at the beginning of the day, two tables orders_currentday and info_currentday have been added to the FORTS_ORDBOOK_REPL and FORTS_USERORDERBOOK_REPL streams. In the orders_currentday tables, upon receipt of the start_of_calendar_date event, a slice of active requests at the beginning of the calendar day is published. The orders_currentday table is a copy of the orders table with some modifications to bring information about the active request to the format “as if this request had just been submitted in its current form”:

    The public_action and private_action fields always contain 1 (submitting a request). The public_amount field contains the value of the public_amount field of the orders table. The private_amount field contains the value of the private_amount field of the orders table.

    The updated list of changes is provided in the attached file.

    Link to current documentation: HTTPS: //ftp.moex.kom/pub/klinsapi/ spectrum/zgat/test/dox/dox/

    Contact information for media 7 (495) 363-3232
    Pr@moex.kom

    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. MOEX.K.MO/N90640

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: 05/29/2025 deposit auction will be held Moscow Regional Guarantee Fund (3)

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    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. MEEX.K.M.M.

    Categories24-7, Mil-SOSI, Moscow, Moscow Stock Exchange, Russian Economy, Russian Federal, Russian Language, Russian economy

    Post Navigation


    Archives

    Archives

    Privacy Policy Proudly Powered by WordPress

    Parameters
    Date of the deposit auction 05/29/2025
    Placement currency Rub
    Maximum amount of funds placed (in placement currency) 3 200 000 000.00
    Placement period, days 89
    Date of deposit 05/30/2025
    Refund date 08/27/2025
    Minimum placement interest rate, % per annum 20.50
    Conditions of imprisonment, urgent or special Urgent
    Minimum amount of funds placed for one application (in placement currency) 100,000,000.00
    Maximum number of applications from one Participant, pcs. 1
    Auction form, open or closed Open
    Basis of the Treaty General Agreement
     
    Schedule (Moscow time)
    Preliminary applications from 16:30 to 16:45
    Applications in competition mode from 16:45 to 16:55
    Setting a cut-off percentage or declaring the auction invalid until 17:20
       
    Additional terms Interest payment at the end of the term

    MIL OSI Russia News –

  • MIL-Evening Report: French politicians in New Caledonia to stir the political melting pot

    By Patrick Decloitre, RNZ Pacific correspondent French Pacific desk

    French national politicians have been in New Caledonia as the territory’s future remains undecided.

    Leaders from both right-wing Les Républicains (LR) and Rassemblement National (RN), — vice-president François-Xavier Bellamy and Marine Le Pen respectively — have been in the French Pacific territory this week.

    They expressed their views about New Caledonia’s political, economic and social status one year after riots broke out in May 2024.

    Since then, latest attempts to hold political talks between all stakeholders and France have been met with fluctuating responses, but the latest round of discussions earlier this month ended in a stalemate.

    This was because hardline pro-France parties regarded the project of “sovereignty with France” offered by French Overseas Minister Manuel Valls was not acceptable. They consider that three self-determination referendums held in 2018, 2020 and 2021 rejected independence.

    However, the last referendum, in December 2021, was largely boycotted by the pro-independence movement and its followers due to indigenous Kanak cultural concerns around the covid-19 pandemic.

    The pro-France camp is accusing Valls of siding with the pro-independence FLNKS bloc and other more moderate parties such as PALIKA (Kanak Liberation Party) and UPM (Union Progressiste en Mélanésie), who want independence from France.

    Transferring key powers
    Valls is considering transferring key French powers to New Caledonia, introducing a double French/New Caledonian citizenship, and an international standing.

    The pro-France camp is adamant that this ignores the three no referendum votes.

    Speaking to a crowd of several hundred supporters in Nouméa on Tuesday evening, Bellamy said he now favoured going ahead with modifying conditions of eligibility for voters at local provincial elections.

    The same attempts to change the locked local electoral roll — which is restricted to people residing in New Caledonia from before November 1998 — was widely perceived as the main cause for the May 2024 riots, which left 14 dead.

    Bellamy said giving in to violence that erupted last year was out of the question because it was “an attempt to topple a democratic process”.

    Les Républicains, to which the Rassemblement-LR local party is affiliated, is one of the major parties in the French Parliament.

    Its newly-elected president Bruno Retailleau is the Minister for Home Affairs in French President Emmanuel Macron’s coalition government.

    Nouméa Accord ‘now over’
    Bellamy told a crowd of supporters in Nouméa that in his view the decolonisation process prescribed by the 1998 Nouméa Accord “is now over”.

    “New Caledonians have democratically decided, three times, that they belong to France. And this should be respected,” he told a crowd during a political rally.

    In Nouméa, Bellamy said if the three referendum results were ignored as part of a future political agreement, then LR could go as far as pulling out of the French government.

    Marine Le Pen, this week also expressed her views on New Caledonia’s situation, saying instead of focusing on the territory’s institutional future, the priority should be placed on its economy, which is still reeling from the devastation caused during the 2024 riots.

    The efforts included diversifying the economy.

    A Paris court convicted Le Pen and two dozen (RN) party members of embezzling European Union funds last month, and imposed a sentence that will prevent her from standing in France’s 2027 presidential election unless she can get the ruling overturned within 18 months.

    The high-profile visits to New Caledonia from mainland French leaders come within two years of France’s scheduled presidential elections.

    And it looks like New Caledonia could become a significant issue in the pre-poll debates and campaign.

    LFI (La France Insoumise), a major party in the French Parliament, and its caucus leader Mathilde Panot also visited New Caledonia from May 9-17, this time mainly focusing on supporting the pro-independence camp’s views.

    Macron invites all parties for fresh talks in Paris
     On Tuesday, May 27, the French President’s office issued a brief statement indicating that it had decided to convene “all stakeholders” for fresh talks in Paris in mid-June.

    The talks would aim at “clarifying” New Caledonia’s economic, political and institutional situation with a view to reaching “a shared agreement”.

    Depending on New Caledonia’s often opposing political camps, Macron’s announcement is perceived either as a dismissal of Valls’ approach or a mere continuation of the overseas minister’s efforts, but at a higher level.

    New Caledonia’s pro-France parties are adamant that Macron’s proposal is entirely new and that it signifies Valls’ approach has been disavowed at the highest level.

    Valls himself wrote to New Caledonia’s political stakeholders last weekend, insisting on the need to pursue talks through a so-called “follow-up committee”.

    It is not clear whether the “follow-up committee” format is what Macron has in mind.

    But at the weekend, Valls made statements on several French national media outlets, stressing that he was still the one in charge of New Caledonia’s case.

    “The one who is taking care of New Caledonia’s case, at the request of French Prime Minister François Bayrou, that’s me and no one else,” Valls told French national news channel LCI on May 25.

    “I’m not being disavowed by anyone.”

    Local parties still willing to talk
     Most parties have since reacted swiftly to Macron’s call, saying they were ready to take part in further discussions.

    Rassemblement-LR leader Virginie Ruffenach said this was “necessary to clarify the French state’s position”.

    She said the clarification was needed, since Valls, during his last visit, “offered an independence solution that goes way beyond what the pro-independence camp was even asking”.

    Local pro-France figure and New Caledonia’s elected MP at the French National Assembly, Nicolas Metzdorf, met Macron in Paris last Friday.

    He said at the time that an “initiative” from the French president was to be expected.

    Pro-independence bloc FLNKS said Valls’ proposal was now “the foundation stone”.

    Spokesman Dominique Fochi said the invitation was scheduled to be discussed at a special FLNKS convention this weekend.

    Valls’ ‘independence-association’ solution worries other French territories
     Because of the signals it sends, New Caledonia’s proposed political future plans are also causing concern in other French overseas territories, including their elected MPs in Paris.

    In the French Senate on Wednesday, French Polynesia’s MP Lana Tetuanui, who is pro-France, asked during question time for French Foreign Affairs Minister Jean-Noël Barrot to explain what France was doing in the Pacific region in the face of growing influence from major powers such as China.

    She told the minister she still had doubts, “unless of course France is considering sinking its own aircraft carrier ships named New Caledonia, French Polynesia and Wallis and Futuna”.

    French president Emmanuel Macron has been on a southeast Asian tour this week to Vietnam, Indonesia and Singapore, where he will be the keynote speaker of the annual Shangri-La Dialogue.

    He delivers his speech today to mark the opening of the 22nd edition of the Dialogue, Asia’s premier defence summit.

    The event brings together defence ministers, military leaders and senior defence officials, as well as business leaders and security experts, from across the Asia-Pacific, Europe, North America and beyond to discuss critical security and geopolitical challenges.

    More specifically on the Pacific region, Macron also said one of France’s future challenges included speeding up efforts to “build a new strategy in New Caledonia and French Polynesia”.

    As part of Macron’s Indo-Pacific doctrine, developed since 2017, France earlier this year deployed significant forces in the region, including its naval and air strike group and its only aircraft carrier, the Charles de Gaulle.

    The multinational exercise, called Clémenceau 25, involved joint exercises with allied forces from Australia, Japan and the United States.

    This article is republished under a community partnership agreement with RNZ.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: As Wildfire Season Begins, Cantwell Demands Trump Administration Stop Putting Lives & Property at Risk & Immediately Lift National Weather Service Hiring Freeze

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell
    05.29.25
    As Wildfire Season Begins, Cantwell Demands Trump Administration Stop Putting Lives & Property at Risk & Immediately Lift National Weather Service Hiring Freeze
    Senator warned Lutnick in Feb. that gutting NOAA & NWS would cripple weather forecasting, threaten public safety; Jackson, KY, NWS office lost overnight staffing & meteorologist-in-charge as severe storms moved across the region May 16, leaving 18 dead; Pendleton, OR, NWS office covering Central WA does not have enough meteorologists to cover overnight shifts
    EDMONDS, WA – U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation and senior member of the Senate Finance Committee, demanded that the Trump Administration immediately exempt the National Weather Service (NWS) from its current federal hiring freeze so that citizens and communities will not be left to fend for themselves without adequate warnings as both hurricane season and wildfire season rapidly approach.  
    “On February 19, 2025, I wrote to Secretary Lutnick to urge protection of NOAA’s workforce and exempt the NWS and other safety related jobs from the hiring freeze due to the crucial role they play in protecting lives, property, and our national economy,” wrote Sen. Cantwell in a letter to Commerce Secretary Howard Lutnick and OPM Acting Director Charles Ezell.  “Now that we have seen the fallout from these ill-advised cuts, I once again demand the Administration immediately provide NOAA with a public safety exemption to the federal hiring freeze so the agency can take immediate steps to fill critical positions and prevent a further breakdown in life-saving forecasts and warnings.”
    Multiple recent reports have documented the impacts of the hiring freeze. The Washington Post reports that “Some…forecasting teams are so critically understaffed that the agency is offering to pay moving expenses for any staff willing to transfer to those offices, according to notices recently sent to employees…” And the New York Times found that “The National Weather Service is preparing for the probability that fewer forecast updates will be fine-tuned by specialists, among other cutbacks, because of ‘severe shortages’ of meteorologists and other employees, according to an internal agency document.” These reports make clear that action must be taken immediately to avoid a catastrophic gap in capacity in the face of a future storm or wildfire.
    “For at least half a century, NWS has provided weather forecasting 24 hours a day, seven days a week, but with the Administration’s cuts, at least eight weather forecasting offices no longer have enough meteorologists to cover overnight shifts,” the Senator wrote. “The Pendleton, Oregon office that covers central Washington will stop staffing overnight shifts, and we’ll lose the consistent local knowledge about weather hazards that impacts the accuracy of forecasts and warnings needed to inform transportation agencies, farmers, schools, firefighters, emergency responders, and other public officials that rely on accurate and timely forecasts and warnings.”
    Months before the current crisis, Sen. Cantwell called for an exemption and accurately predicted exactly the situation we are in now.
    The full text of Sen. Cantwell’s letter is available HERE and below.
    Dear Secretary Lutnick and Mr. Ezell,
    The Administration’s dismantling of the National Oceanic and Atmospheric Administration (“NOAA”) workforce has crippled the National Weather Service (“NWS”). The firing of probationary employees, early retirements, and other Administration efforts have led to more than 560 departures from NWS, a 33% reduction from historic levels, leaving many locations critically understaffed and the agency scrambling to fill the gaps.
    NOAA initiated an agency-wide effort on May 13, 2025, to relocate existing personnel to temporarily fill 155 positions in “critically understaffed” locations across NWS. This proposed solution may serve as a stopgap, but it is not a viable long-term strategy.
    On February 19, 2025, I wrote to Secretary Lutnick to urge protection of NOAA’s workforce and exempt the NWS and other safety related jobs from the hiring freeze due to the crucial role they play in protecting lives, property, and our national economy. Now that we have seen the fallout from these ill-advised cuts, I once again demand the Administration immediately provide NOAA with a public safety exemption to the federal hiring freeze so the agency can take immediate steps to fill critical positions and prevent a further breakdown in life-saving forecasts and warnings.
    For at least half a century, NWS has provided weather forecasting 24 hours a day, seven days a week, but with the Administration’s cuts, at least eight weather forecasting offices no longer have enough meteorologists to cover overnight shifts. The Pendleton, Oregon office that covers central Washington will stop staffing overnight shifts, and we’ll lose the consistent local knowledge about weather hazards that impacts the accuracy of forecasts and warnings needed to inform transportation agencies, farmers, schools, firefighters, emergency responders, and other public officials that rely on accurate and timely forecasts and warnings. Additionally, 30 of the 122 weather forecast offices are currently lacking their highest-ranking official, known as the meteorologist-in-charge, including at offices that cover major metropolitan areas such as New York City, Cleveland, Houston, and Tampa. The office in Jackson, Kentucky lost both overnight staffing and their meteorologist-in-charge and was left scrambling to find adequate staffing on May 16, 2025, as severe storms moved across the region, ultimately killing 18 people in Kentucky.
    The staffing shortages are also impacting NWS’s ability to collect and disseminate the weather data that underpins NOAA’s own forecasts and warnings as well as serves as the foundation for the entire U.S. weather enterprise. There are over 90 vacancies among the specialized staff who maintain and repair the NWS’s Doppler radar and Automated Surface Observing Systems greatly increasing the chances of equipment outages. These systems are the cornerstone of NWS’s severe weather warning operations and provide pilots and air traffic controllers with the data they need to safely manage air traffic and minimize delays. Additionally, at least 10 weather forecast offices have suspended or limited their weather balloon launches, which for decades have occurred twice daily to gather data on a steady cadence. Carrying instruments called radiosondes, the balloons rise to 115,000 feet and gather vital atmospheric data that cannot easily be replicated by satellites or other instruments. Without this information forecasts become less accurate and less reliable.
    June 1 marks the start of hurricane season, and many parts of the country are already contending with wildfires and violent storms. Every living former Director of the NWS, from both Republican and Democratic administrations, wrote and released an open letter to the American people warning about the impact of staffing and program cuts. The Directors “stand united against the loss of staff and resources at NWS and are deeply concerned about NOAA as a whole…[Their] worst nightmare is that weather forecast offices will be so understaffed that there will be needless loss of life.”?
    Granting a public safety exemption to the hiring freeze is essential to prevent further degradation of our nation’s weather readiness. Please provide the Committee with a response by June 1, 2025, explaining how you will resume hiring at the NWS to ensure consistent weather forecasting coverage. 

    MIL OSI USA News –

  • MIL-OSI New Zealand: Tristan Gilbertson reappointed to the Commerce Commission

    Source: Ministry of Business Innovation and Employment (MBIE)

    Mr Gilbertson has been reappointed for a second 5-year term, starting on 8 June 2025 and ending on 7 June 2030.

    Mr Gilbertson is a commercial lawyer with extensive international experience in the telecommunications sector. During his first term as Telecommunications Commissioner, he led work programmes relating to the economic regulation of telecommunications services, the development of retail service quality guidelines, and the monitoring and enforcement of competition in telecommunications markets. He was also involved in the Commission’s wider competition and consumer work – including the recent market study into banking.

    Prior to joining the Commission, he held senior executive positions at Vodafone Group Plc, Telecom New Zealand Ltd (now Spark) and Digicel Group Ltd, where he led legal and regulatory teams supporting the development and growth of these businesses.

    The Commission comprises 4 to 8 members appointed by the Governor-General. These members include:

    • Chair
    • Deputy Chair
    • Telecommunications Commissioner
    • Grocery Commissioner

    At least 1 member must be a barrister and solicitor of at least 5 years’ standing.

    The Minister of Commerce and Consumer Affairs recommends Commissioners for appointment for their knowledge and experience in the fields of industry, commerce, economics, law, accountancy, public administration or consumer affairs.

    The Telecommunications Commissioner is appointed by the Governor-General on the recommendation of the Minister for Media and Communications.

    MIL OSI New Zealand News –

  • MIL-OSI Submissions: Gebrüder Weiss expands into Thailand

    Source: Gebrüder Weiss

    Logistics company continues to expand its network in South-East Asia / 20-strong team in Bangkok organizes air and sea freight transportation

    Bangkok / Lauterach, May 30, 2025. Gebrüder Weiss is set to open a new country organization in Thailand on June 1, 2025. The international transport and logistics company is strengthening its market presence in Southeast Asia and expanding its network in one of the world’s most economically dynamic regions.

    “The new country organization allows us to close a strategic gap and create direct connections to central Asia-Pacific markets for our customers,” says Lothar Thoma, Managing Director Air & Sea at Gebrüder Weiss. “Thailand is an important export location with strong trade links to the USA, China, Japan, Australia, and Singapore – markets where we are also represented with locations of our own.”

    In 2024, Thailand posted export volumes worth around 300 billion US dollars, up five percent on the previous year. Industrial goods account for the majority of outbound trade (86 percent), with key categories including electronics, vehicles, machinery, and food.

    The team of 20 employees in Bangkok provides international air and sea freight transportation, customs handling, and national and cross-border land transport services. “Our employees have many years of experience in international transport management. In the medium term, we are aiming to expand our services in Thailand to include warehouse logistics, with a particular focus on the automotive and high-tech sectors,” says Cristian Predan, Area Manager South-East Asia at Gebrüder Weiss.

    With its entry into the Thai market, Gebrüder Weiss now has an active presence in nine countries across the East and South-East Asia region and Oceania. These include Australia, Greater China, Japan, Malaysia, New Zealand, Singapore, South Korea, and Vietnam. The regional network now spans 35 locations with around 800 employees.

    Team Thailand

    Port of Laem Chabang

    Lothar Thoma

    Cristian Predan

    GW locations Asia

    GW locations Oceania

    About Gebrüder Weiss

    Gebrüder Weiss Holding AG, based in Lauterach, Austria, is a globally operative full-service logistics provider with about 8,600 employees at 180 company-owned locations. The company generated revenues of 2.71 billion euros in 2024. Its portfolio encompasses transport and logistics solutions, digital services, and supply chain management. The twin strengths of digital and physical competence enable Gebrüder Weiss to respond swiftly and flexibly to customers’ needs. The family-run organization – with a history going back more than half a millennium – has implemented a wide variety of environmental, economic, and social initiatives. Today, it is also considered a pioneer in sustainable business practices. www.gw-world.com

    MIL OSI – Submitted News –

  • MIL-Evening Report: Tracking crime from the cradle: why some people keep breaking the law while most of us never do

    Source: The Conversation (Au and NZ) – By Ayda Kuluk, PhD Candidate in Criminology and Criminal Justice, Griffith University

    Alena Lom/Shutterstock

    A major Australian study tracking more than 80,000 Queenslanders from birth to adulthood reveals stark differences between men and women in patterns of criminal behaviour.

    These patterns offer insights into effective crime prevention strategies.

    Our findings point to a clear takeaway: most people will never seriously come into contact with the criminal justice system. But for the small proportion who do, their paths into crime are shaped early and differently for men and women.

    That means crime prevention efforts need to start earlier and be tailored to the experiences of those most at risk.

    A rare opportunity

    Our research followed more than 83,000 people born in Queensland in 1983 and 1984, and linked their early life records with official police data to understand who offended and how their patterns changed over time.

    Few studies worldwide have followed such a large population from childhood through to early adulthood.

    This gave us a unique opportunity to examine not just if people committed crime but when, how often and the types and seriousness of their offences.

    Most people don’t offend but some do – repeatedly

    The clearest finding was also the most reassuring: the vast majority of people never commit serious offences.

    That means efforts to prevent crime can be more precisely targeted, ensuring interventions focus on a smaller, high-risk group rather than the general population.

    Non-offending was most prevalent, but five distinct offending groups for both men and women were identified.

    Among men, these ranged from those who rarely offended to a small group that started early and continued into adulthood, and another that mostly offended during adolescence but later stopped.

    In contrast, most women fell into the low or non-offending groups. Only a small proportion followed a pattern of serious or repeat offending.

    These trajectories were categorised as follows:

    Women:

    • non-offending: 79.9%
    • adolescent-limited low: 8.5%
    • adult-onset low: 8.6%
    • early adult-onset escalating: 1.3%
    • early onset young adult peak: 1.4%
    • chronic early adult peak: 0.4%

    Men:

    • non-offending: 54.4%
    • low: 31.0%
    • early adult-onset low: 6.5%
    • early onset young adult peak: 4.8%
    • chronic adolescent-onset: 2.2%
    • chronic early adult peak: 1.1%

    Among the women who did offend, there were notable differences compared to men – not just in frequency but in the types of offences, how often they had contact with police and their experience with youth detention.

    Patterns differ by sex

    For boys and young men, those in the persistent offending group had earlier and more frequent contact with police, were more likely to face serious charges and often experienced youth detention.

    For girls and young women, fewer entered the system overall but those with repeat contact showed distinct patterns: their offences tended to differ from those of men, with a greater focus on property-related crimes as well as drug and traffic violations, rather than the more frequent violent crimes seen among young men.

    While they were less likely to be detained, their level of system contact was higher than that of most men in the low offending group.

    These differences suggest sex shapes not just the likelihood of offending, but the nature of offending and how people interact with the justice system.

    One-size-fits-all crime prevention won’t work

    Our findings suggest a nuanced approach to crime prevention – one that recognises both the gendered nature of offending and the early life experiences that shape it.

    For boys and young men, this could mean early identification of behavioural issues, stronger support in schools and support to create stable, safe home environments.

    For girls and young women, more effective interventions might involve trauma-informed care (an approach that acknowledges past trauma and prioritises safety, trust and empowerment), along with tailored mental health support and services focused on recovery.

    These gender-sensitive approaches are not just about being fair, they’re about being effective and equitable. When we better understand the roots of offending behaviour, we can design policies that reduce it.

    Why early intervention matters

    It’s easy to think of crime as something that starts with a police report or a court appearance. But the conditions for offending, or avoiding it, are often set much earlier.

    Here are two real-life examples.

    What if we saw a child’s aggression at school not as “bad behaviour” but as a red flag for family violence at home? What if a teenage girl’s shoplifting was a symptom of trauma or mental illness?

    This research reinforces the value of early, targeted intervention.

    That doesn’t just mean more programs, it means smarter programs, ones that focus resources on those most at risk in ways that match their lived experience.

    Our study is one of the most comprehensive of its kind in Australia. It confirms that while most people never offend, a small group follow early, distinct pathways into crime.

    Recognising these patterns gives us a powerful opportunity: to design earlier and more targeted prevention. That means fewer people in the justice system and healthier, safer communities for everyone.

    If we want to stop crime before it starts, we need to start early, and we need to pay attention to the very different paths children may be on.

    Ayda Kuluk 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. Tracking crime from the cradle: why some people keep breaking the law while most of us never do – https://theconversation.com/tracking-crime-from-the-cradle-why-some-people-keep-breaking-the-law-while-most-of-us-never-do-257130

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Elon Musk promises more risky launches after sixth Starship failure

    Source: The Conversation (Au and NZ) – By Sara Webb, Lecturer, Centre for Astrophysics and Supercomputing, Swinburne University of Technology

    What goes up must come down, and earlier this week yet another of SpaceX’s Starships, the biggest and most powerful type of rocket ever built, came back down to Earth in spectacular fashion. In the sky above the Indian Ocean, it exploded.

    This was the ninth test flight for the rocket, and the third catastrophic failure in a row, just this year.

    Is this what we should expect from the very ship some are counting on to take humans further than we’ve ever been in the solar system? Or does this failure point to deeper concerns within the broader program?

    A decade of development

    The Starship program from Elon Musk’s space technology company, SpaceX, has been in development for more than a decade now and has undergone many iterations in its overall design and goals.

    The Starship concept is based upon the SpaceX Raptor engines to be used in a multistage system. In a multistage rocket system, there are often two or three separate blocks with their own engine and fuel reserves. These are particularly important for leaving Earth’s orbit and travelling to the Moon, Mars and beyond.

    With Starship, the key factor is the ability to land and reuse vast amounts of the rocket stages again and again. The company’s Falcon 9 vehicles, which used this model, were fantastically successful.

    Initial tests of Starship began in 2018 with two low-altitude flights showing early success. Subsequent flights have faced numerous challenges with now four complete failures, two partial failures and three successes overall.

    Just two days ago, during the latest failed attempt, I watched alongside over 200 other space industry experts at the Australian Space Summit in Sydney. Broadcast live on a giant screen, the launch generated an excited buzz – which soon turned to reserved murmurs.

    Of course, designing and launching rockets is hard, and failures are to be expected. However, a third catastrophic failure within six months demands a pause for reflection.

    On this particular test flight, as Starship positioned itself for atmospheric re-entry, one of its 13 engines failed to ignite. Shortly after, a booster appeared to explode, leading to a complete loss of control. The rocket ultimately broke apart over the Indian Ocean, which tonnes of debris will now call home.

    Polluting Earth in pursuit of space

    We don’t know the exact financial cost of each test flight. But Musk has previously said it is about US$50–100 million.

    The exact environmental cost of the Starship program – and its repeated failures – is even harder to quantify.

    For example, a failed test flight in 2023 left the town of Port Isabel, Texas, which is located beside the launch site, shaking and covered in a thick cloud of dirt. Debris from the exploded rocket smashed cars. Residents told the New York Times they were terrified. They also had to clean up the mess from the flight.

    Then, in September 2024, SpaceX was fined by the US Environmental Protection Agency and the Texas Commission on Environmental Quality for 14 separate incidents since 2022 where the launch facilities discharged polluted water into Texas waterways. Musk denied these claims.

    That same month, the US Federal Aviation Administration (FAA) proposed a fine of US$633,009 in civil penalties should be issued to SpaceX. This was on the grounds of using an unapproved launch control room and other violations during 2023. Musk denied these claims too and threatened to countersue the FAA for “regulatory overreach”.

    It’s unclear if this suit was ever filed.

    Two other failed launches in January and March this year also rained rocket debris over the Caribbean, and disrupted hundreds of commercial flights, including 80 which needed to be diverted and more than 400 requiring delayed takeoff to ensure they were entering safe air space.

    Success of different space programs

    Until last year, the FAA allowed SpaceX to try up to five Starship launches a year. This month, the figure was increased to 25.

    A lot can go wrong during a launch of a vehicle to space. And there is a long way to go until we can properly judge whether Starship successfully meets its mission goals.

    We can, however, look at past programs to understand typical success rates seen across different rocketry programs.

    The Saturn V rocket, the workhorse of the Apollo era, had a total of 13 launches, with only one partial failure. It underwent three full ground tests before flight.

    SpaceX’s own Falcon 9 rocket, has had more than 478 successful launches, only two in flight failures, one partial failure and one pre-flight destruction.

    The Antares rocket, by Orbital Sciences Corporation (later Orbital ATK and Northrop Grumman) launched a total of 18 times, with one failure.

    The Soyuz rocket, originally a Soviet expendable carrier rocket designed in the 1960s, launched a total of 32 times, with two failures.

    No sign of caution

    Of course, we can’t fairly compare all other rockets with the Starship. Its goals are certainly novel as a reusable heavy-class rocket.

    But this latest failure does raise some questions. Will the Starship program ever see success – and if so when? And what are the limits of our tolerance as a society to the pollution of Earth in the pursuit of the goal to space?

    For a rocketry program that’s moving so fast, developing novel and complex technology, and experiencing several repeated failures, many people might expect caution from now on. Musk, however, has other plans.

    Shortly after the most recent Starship failure, he announced on X (formerly Twitter, that the next test flights would occur at a faster pace: one every three to four weeks.

    Sara Webb 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. Elon Musk promises more risky launches after sixth Starship failure – https://theconversation.com/elon-musk-promises-more-risky-launches-after-sixth-starship-failure-257726

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: US stocks close higher on firm Nvidia earnings

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

    U.S. stocks ended higher on Thursday, as investors digested Nvidia’s earnings results and continued to navigate ongoing tariff-related uncertainty.

    The Dow Jones Industrial Average rose 117.03 points, or 0.28 percent, to 42,215.73. The S&P 500 added 23.62 points, or 0.40 percent, to 5,912.17. The Nasdaq Composite Index increased by 74.93 points, or 0.39 percent, to 19,175.87.

    Ten of the 11 primary S&P 500 sectors ended in green, with real estate and health leading the gainers by adding 0.95 percent and 0.74 percent, respectively. Meanwhile, communication services bucked the trend by losing 0.35 percent.

    Later in the day, a federal appeals court reinstated U.S. President Donald Trump’s broad tariffs, at least temporarily, overturning a lower court’s ruling on Wednesday that had blocked them on the grounds that their implementation process was “unlawful.”

    “The chances for a major slowdown because of the tariffs or a major consumer price increase definitely have gone down a little bit, not to zero because God knows what they’re going to do,” said Norbert Michel, vice president and director at the Cato Institute’s Center for Monetary and Financial Alternatives, referring to legal actions the Trump administration can take.

    Meanwhile, Nvidia shares surged 3.24 percent on Thursday, following the company’s first-quarter earnings release after the close on Wednesday. The gain put the stock on pace for its highest closing level since January.

    Despite a notable 8-billion-U.S.-dollar revenue impact from U.S. export restrictions to China, investor sentiment was lifted by strong guidance from Nvidia CEO Jensen Huang and robust demand for AI infrastructure, particularly around Nvidia’s upcoming Blackwell chip rollout.

    “The 50 billion China market is effectively closed to U.S. industry,” Huang said about the restrictions. “We are exploring limited ways to compete, but Hopper is no longer an option. China’s AI moves on with or without U.S. chips.” For the quarter, Nvidia posted revenue of 44.1 billion U.S. dollars, beating Bloomberg consensus estimates of 43.3 billion and sharply up from 26 billion dollars a year ago.

    Elsewhere, Best Buy lowered its full-year outlook, citing economic uncertainty tied to the tariffs, which led to a drop in its stock. Attention has now turned to Costco’s upcoming earnings release, as retailers face growing pressure. Trump recently told Walmart it should absorb the costs from higher import duties, following its latest earnings report.

    On the economic front, jobless claims in the United States rose more than expected last week, signaling potential softness in the labor market. Additionally, the Commerce Department revised its estimate for the first-quarter gross domestic product, showing the economy contracted at an annualized rate of 0.2 percent, a slight improvement from the initial reading. 

    MIL OSI China News –

  • MIL-OSI USA: Pallone Speaks Out on the House Floor Against the GOP Tax Scam

    Source: United States House of Representatives – Congressman Frank Pallone (6th District of New Jersey)

    Republican Leaders Brought the Bill to the House Floor in the Middle of the Night

    Washington, D.C. – Energy and Commerce Committee Ranking Member Frank Pallone, Jr. (D-NJ) delivered the following remarks on the House floor around 4 a.m. in opposition to President Trump’s One Big Ugly Bill as Republican leaders rushed to pass their tax scam under cover of night:

    For months, President Trump and Congressional Republicans have been promising that they would not cut Medicaid or Medicare. The reality is that Republicans are cutting both Medicaid and Medicare in this bill. They’re essentially repealing parts of the Affordable Care Act. This bill will destroy the health care system in this country, and it keeps getting worse with each GOP amendment. 

    The GOP Tax Scam takes health care away from at least 13.7 million Americans so they can give giant tax breaks to billionaires and big corporate interests. It’s a shameful reverse Robin Hood scheme – they are stealing from you to give to the rich.  

    Republicans are stripping health care away from people by putting all sorts of burdensome and time-consuming roadblocks in the way of people just trying to get by. The vast majority of people on Medicaid already working. This is not about work – it’s about burying people in so much paperwork that they fall behind and lose their health coverage.  

    And if someone loses their coverage through Medicaid, this GOP Tax Scam also bans them from getting coverage through the ACA Marketplace. It’s just one of the cruel ways this bill basically repeals the ACA and makes it more difficult for people to get affordable health insurance. 

    Now, the Republican bill also makes it more difficult for states to finance their share of Medicaid costs by preventing them from implementing new provider taxes. This will be catastrophic for states as their health care needs change over time and will force them to either increase taxes on their residents or cut health care services.  

    For those of you who will say it doesn’t impact Medicare, the GOP Tax Scam will also cut Medicare—I repeat Medicare—by about $500 billion due to sequestration. These Medicare cuts will lead to reduced access to care for seniors, longer wait times for appointments, and increased costs.  

    Mr. Speaker, the GOP Tax Scam destroys the American health care system by cutting over a trillion dollars and this bill should be defeated. 

    I yield back. 

    MIL OSI USA News –

  • MIL-OSI USA: Reed, Warren, Wyden Urge Investigation to Determine if DOGE Employees’ Committed Criminal Violations of Federal Ethics Laws

    US Senate News:

    Source: United States Senator for Rhode Island Jack Reed

    WASHINGTON, DC — U.S. Senators Elizabeth Warren (D-MA), Jack Reed (D-RI), and Ron Wyden (D-OR) sent a letter to the Department of Justice (DOJ), Office of Government Ethics (OGE), and Inspector Generals at the Department of the Treasury, Internal Revenue Service (IRS), and Consumer Financial Protection Bureau (CFPB) urging their offices to investigate whether Department of Government Efficiency (DOGE) employees broke the law by working to dismantle government agencies while holding hundreds of thousands of dollars in private companies. The lawmakers are Ranking Members of the Senate Banking, Housing, and Urban Affairs Committee; Senate Armed Services Committee; and Senate Finance Committee, respectively. 

    “These DOGE employees’ conflicts of interest and role in the mass firings at CFPB, Treasury, and IRS undermine the integrity of their decision-making and the actions taken by the agencies where they work,” the three senators wrote.

    Recent reporting by Politico revealed that Tom Krause, the leader of the Treasury’s DOGE team, has financial holdings worth hundreds of thousands of dollars in companies like JPMorgan Chase, Bank of America, PNC, U.S. Bank, Wells Fargo, Deutsche Bank, Morgan Stanley, and Santander—all companies that have business before Treasury or provide services to the Department. Krause has also been responsible for leading Treasury’s efforts to modernize the Treasury’s IT and financial infrastructure while owning shares of big tech companies like Google, Oracle, and Amazon. 

    Krause and two other Treasury employees, Todd Newnam and Linda Whitridge, also own shares of Intuit, the parent company of TurboTax, which for years has attempted to sabotage the IRS Direct File program. Direct File allows taxpayers to file their taxes for free and directly with the IRS instead of using private sector programs like TurboTax. In recent months, DOGE fired the program’s development team and the Trump administration has reportedly decided to end the program. 

    “It would be deeply disturbing if DOGE employees with a financial stake in Intuit were involved with overseeing and dismantling the Direct File initiative, which would directly benefit Intuit and these employees’ financial holdings,” the lawmakers wrote. 

    ProPublica also recently reported that Gavin Kliger, a DOGE aid at the Consumer Financial Protection Bureau (CFPB), was warned by ethics officials that he held stock in companies that “employees are forbidden from owning.” These holdings include as much as $715,000 of investments in barred companies such as Apple Inc., Tesla Inc., Alphabet Inc., and two cryptocurrencies, all companies subject to investigation by the CFPB. Three days later, despite ethics officials’ warnings, Kliger participated in layoffs at the agency, including firing the ethics lawyers that warned him of his conflicts. 

    At least one expert has described Mr. Kliger’s actions as “look[ing] like a pretty clear-cut violation’” of the federal criminal conflict-of-interest statute, which could carry a fine of up to $250,000 and up to five years in prison. 

    “Together, these three examples underscore what appears to be a pervasive problem with Elon Musk and DOGE employees trampling ethics rules and laws to benefit their own pockets at the expense of the American public,” wrote the senators. 

    The senators called on the DOJ, OGE, and Inspectors Generals of the Treasury, Office for Tax Administration, and the Federal Reserve to investigate the legality of these employees’ conflicts and whether they have violated federal ethics laws. 

    “Neither Mr. Musk nor those working on his behalf in DOGE are above the law, and if they have failed to follow it, the Department of Justice (DOJ) and other relevant government officials should act to hold them accountable,” the senators concluded.

    Full text of the letter follows:

    Dear Attorney General Bondi, Acting Director Greer, Ms. Sciurba, Ms. Hill, and Mr. Gibson:

    We write regarding new reports that DOGE employees at the Treasury, Internal Revenue Service (IRS), and the Consumer Financial Protection Bureau (CFPB) have been engaged in the dismantling of these agencies while holding hundreds of thousands of dollars of stock in private companies benefitting from these individuals’ efforts to eliminate key programs, staff, and policies. This poses a clear conflict of interest and potential criminal violation of federal ethics law, which bars any Federal government employee from “participat[ing] personally and substantially…[in any] particular matter in which [they] … ha[ve] a financial interest.” A willful violation of the law would subject these individuals to a fine of up to $250,000 and up to five years in prison. We request that your offices investigate this matter.

    Neither Mr. Musk nor those working on his behalf with DOGE are above the law, and if they have failed to follow it, the Department of Justice (DOJ) and other relevant government officials should hold them accountable.

    First, earlier this month, reporting revealed that Tom Krause, the leader of Treasury’s DOGE team and top official overseeing Treasury’s Bureau of the Fiscal Service, has financial holdings worth hundreds of thousands of dollars in companies that have business before Treasury or provide services to the Department. Some of Mr. Krause’s holdings—including hundreds of thousands of dollars’ worth of shares of JPMorgan Chase, Bank of America, PNC, U.S. Bank, Wells Fargo, Deutsche Bank, Morgan Stanley, and Santander—are in financial institutions that provide financial services to and purchase U.S. debt securities directly from Treasury. In addition, Mr. Krause has also been responsible for leading Treasury’s efforts to “modernize its IT and financial infrastructure,” despite owning shares of big tech firms like Google, Oracle, and Amazon. Experts have described this as “a massive, glaring red flag of a conflict of interest.”

    Second, the same report also indicated that Mr. Krause and two other Treasury DOGE team members—Todd Newnam and Linda Whitridge—own shares of Intuit, the parent company of TurboTax, which has been engaged in a years’ long attempt to sabotage the IRS’ free tax filing program, “Direct File.” This easy-to-use program allows taxpayers to file their taxes for free and directly with the IRS, rather than use private sector tax preparation software like TurboTax. Troublingly, the program has been targeted for elimination by DOGE: months after Musk posted that DOGE had “deleted” a team that contributed to Direct File’s development, reports surfaced that the Trump Administration had decided to end the program. It would be deeply disturbing if DOGE employees with a financial stake in Intuit were involved with overseeing and dismantling the Direct File initiative, which would directly benefit Intuit and these employees’ financial holdings.

    Third, last month, ProPublica reported that Gavin Kliger, a DOGE aide at the CFPB, was warned by ethics attorneys “that he held stock in companies that employees are forbidden from owning — and was advised not to participate in any actions that could benefit him personally.” These holdings include as much as $715,000 of investments in barred companies such as Apple Inc., Tesla Inc., Alphabet Inc., and two cryptocurrencies. These companies are on the CFPB’s “Prohibited Holding” list since they are “subject to examination by the Bureau.”

    Three days later, Mr. Kliger “participated in mass layoffs at the agency anyway, including the firings of the ethics lawyers that warned him” of his conflicts. The conflicts are obvious: “a defanged and downsized consumer watchdog is unlikely to aggressively regulate those and other companies, freeing them of compliance costs and the risk associated with examinations and enforcement actions. That in turn could boost their stock prices and benefit … Kliger.” At least one expert has described Mr. Kliger’s actions as “look[ing] like a pretty clear-cut violation’” of the federal criminal conflict-of-interest statute

    Together, these three examples underscore what appears to be a pervasive problem with Elon Musk and DOGE employees trampling ethics rules and laws to benefit their own pockets at the expense of the American public. These DOGE employees’ conflicts of interest and role in the mass firings at CFPB, Treasury, and IRS undermine the integrity of their decision-making and the actions taken by the agencies where they work.

    To be clear, there continues to be uncertainty about the specific circumstances surrounding these individuals’ conflicts, including whether they may have divested from some or all of their conflicted holdings, whether their actions may have constituted involvement in “particular matters” that will have a “direct and predictable effect” on their financial interests, or whether they may have received waivers from relevant Designated Agency Ethics Officials or White House officials. But the American people deserve answers regarding whether their own interests may have been undermined by Trump Administration officials that acted in violation of federal ethics laws.

    Given these open questions, we ask that your offices investigate this matter. The Treasury Inspector General (Treasury IG), Treasury Inspector General for Tax Administration (TIGTA), and Inspector General of the Federal Reserve (Fed IG) should conduct a broad review of whether these and other DOGE representatives may have engaged in illegal or inappropriate efforts at the Treasury, IRS, and CFPB. The Department of Justice (DOJ) should investigate whether these and other DOGE representatives may have violated federal ethics law by abusing their official roles for the benefit of private companies in which they have a vested financial interest. We also ask that the Office of Government Ethics examine this matter and recommend any potential violations for appropriate enforcement action.

    Thank you for your attention to this important matter.

    Sincerely,

    MIL OSI USA News –

  • MIL-OSI USA: Murray, Van Hollen Urge GAO to Continue Investigating Administration’s Withholding of Congressionally Appropriated Funds

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    Senator Patty Murray (D-Wash.), Vice Chair of the Senate Appropriations Committee, and U.S. Senator Chris Van Hollen, Ranking Member of the Senate Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies, have sent a letter to the U.S. Comptroller General Gene Dodaro urging the Government Accountability Office (GAO) to continue to investigate the Administration’s withholding of Congressionally appropriated funds. The GAO has the authority to determine whether the Administration is violating the Impoundments Control Act by illegally withholding funds, and the Senators’ letter follows GAO’s recent finding that the Department of Transportation was in fact doing so. In their letter, the Senators press GAO to continue working on the 39 cases and counting of potentially illegal impoundments it has identified and stress that the GAO must move forward with or without the Administration’s cooperation.

    “As members of the Senate Appropriations Committee, we have tracked with growing alarm the pauses and cancellation of federal funding across agencies since the start of the Trump Administration. We have noted at least $430 billion in funding has been blocked, an amount equivalent to nearly a third of the discretionary budget,” the Senators begin.

    “Agencies were required to submit spend plans for fiscal year 2025 on April 29, but most did not supply plans or provided insufficient detail to allow the Committee to ensure they are allocating resources in accordance with the law. The Administration has also stopped publicly posting apportionment documents as required by the Financial Services and General Government Appropriations Act of 2023, weakening Congress’s ability to conduct effective oversight,” they continue.

    “In a Committee hearing on April 29, you testified that the GAO has 39 ongoing investigations into potentially illegal impoundments. […] In your testimony on April 29, you indicated that in some cases you were waiting on information from agencies on their justifications for funding freezes. We appreciate that GAO works to ascertain intent as part of any investigation under the Impoundment Control Act (ICA), and that your good faith requests for information from the Administration allow you to obtain a fuller picture of the circumstances surrounding a withholding. […] However, GAO was similarly stonewalled by the prior Trump Administration, when the Office of Management and Budget and the State Department failed to provide necessary information about potential impoundments of Foreign Military Financing Funds. GAO noted then, and we agree, that the delay in response had “constitutional significance” as it obstructed an investigation that Congress delegated to GAO under the ICA,” they note.

    The Senators go on to urge, “As Congress begins deliberations on the fiscal year 2026 appropriations bills, it is critical that we understand how the Administration is executing current law, and whether, through programmatic delay or illegal impoundment, funds are in danger of expiring without obligation. If the Administration is breaking the law without consequence, the fundamental separation of powers and Congressional power of the purse is under serious threat. We encourage you to continue to report to Congress as quickly as possible on any violations of the ICA. In the event of a violation, Congress has also invested GAO with the authority to file suit to ensure funds are spent in accordance with the law.”

    The full text of the letter is available here and below.

    Dear Comptroller Dodaro,

    As members of the Senate Appropriations Committee, we have tracked with growing alarm the pauses and cancellation of federal funding across agencies since the start of the Trump Administration. We have noted at least $430 billion in funding has been blocked, an amount equivalent to nearly a third of the discretionary budget.

    Agencies were required to submit spend plans for fiscal year 2025 on April 29, but most did not supply plans or provided insufficient detail to allow the Committee to ensure they are allocating resources in accordance with the law. The Administration has also stopped publicly posting apportionment documents as required by the Financial Services and General Government Appropriations Act of 2023, weakening Congress’s ability to conduct effective oversight.

    As the President enters his fifth month in office, the argument that programs are simply paused for review becomes increasingly less credible. In addition, executive orders and public statements from the President, his cabinet, and the so-called Department of Government Efficiency indicate a clear intention to stop funding for certain agencies and programs entirely. Those statements have frequently aligned with the cancellation of grants and contracts, indicating that they are implementing cuts in fiscal year 2025 in violation of appropriations law, rather than proposing cuts for fiscal year 2026 for Congressional consideration.

    As you know, Congress has authority under the Constitution to appropriate funds, and the Executive Branch must expend those funds as the law dictates. And as GAO has stated, “Faithful execution of the law does not permit the President to substitute his own policy priorities for those that Congress has enacted into law.”

    In a Committee hearing on April 29, you testified that the GAO has 39 ongoing investigations into potentially illegal impoundments. We appreciate GAO’s completion of its first legal opinion, that the Department of Transportation violated the recording statute and the Impoundment Control Act (ICA) by improperly recording program liabilities and illegally withholding mandatory funds for the National Electric Vehicle Infrastructure (NEVI) Formula Program. The NEVI program was authorized by the bipartisan Infrastructure Investment and Jobs Act and, as you noted, “[t]he Constitution grants the President no unilateral authority to withhold funds from obligation.” We agree with your conclusion, and will expect the Department of Transportation to immediately make the withheld funds available to the states.

    In your testimony on April 29, you indicated that in some cases you were waiting on information from agencies on their justifications for funding freezes. We appreciate that GAO works to ascertain intent as part of any investigation under the Impoundment Control Act (ICA), and that your good faith requests for information from the Administration allow you to obtain a fuller picture of the circumstances surrounding a withholding.

    However, GAO was similarly stonewalled by the prior Trump Administration, when the Office of Management and Budget and the State Department failed to provide necessary information about potential impoundments of Foreign Military Financing Funds. GAO noted then, and we agree, that the delay in response had “constitutional significance” as it obstructed an investigation that Congress delegated to GAO under the ICA.

    GAO also noted, in its investigation of the illegal impoundment by the Department of Defense that occurred at the same time, that while OMB provided an explanation for the withholding, its explanation did not adequately justify the action. GAO said that “the burden to justify a withholding of budget authority rests with the executive branch.” You reiterated that in your decision on the Department of Transportation’s illegal withholding of NEVI program funds. In the absence of fulsome responses from the Administration, we encourage GAO to carefully examine the public record, including court records in cases filed against agencies, to inform your investigation into whether agencies are demonstrating the intent to illegally impound funds.

    As Congress begins deliberations on the fiscal year 2026 appropriations bills, it is critical that we understand how the Administration is executing current law, and whether, through programmatic delay or illegal impoundment, funds are in danger of expiring without obligation. If the Administration is breaking the law without consequence, the fundamental separation of powers and Congressional power of the purse is under serious threat.

    We encourage you to continue to report to Congress as quickly as possible on any violations of the ICA. In the event of a violation, Congress has also invested GAO with the authority to file suit to ensure funds are spent in accordance with the law.

    We appreciate the investigations GAO has already undertaken and your vital role in carrying out the ICA to ensure that the President faithfully executes the law as required by our Constitution. We look forward to your legal opinions and analysis of the Administration’s fiscal year 2025 implementation.

    Sincerely,

    MIL OSI USA News –

  • MIL-OSI USA: SBA Opens Business Recovery Center in Weslaco

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced today the opening of a SBA Business Recovery Center (BRC) in Hidalgo County to assist small businesses, private nonprofit (PNP) organizations and residents who sustained economic losses and physical damage from severe storms and flooding occurring March 26‑28.

    Beginning Friday, May 30, SBA customer service representatives will be on hand at the Business Recovery Center in Weslaco to answer questions and assist with the disaster loan application process. No appointment is necessary, walk-ins are welcome. Those who prefer to schedule an in-person appointment in advance can do so at appointment.sba.gov.

    The center’s hours of operation are as follows:

    HIDALGO COUNTY
    Business Recovery Center
    Valley Metro Transit Center
    Boardroom
    510 S. Pleasantview Dr.
    Weslaco, TX  78596

    Opens at 12 p.m. Friday, May 30

    Mondays – Fridays, 8 a.m. – 5 p.m.

    The following BRC location is open and continues to serve survivors:

    CAMERON COUNTY
    Business Recovery Center
    Harlingen Chamber of Commerce
    311 E. Tyler Ave.
    Harlingen, TX  78550

    Mondays – Thursdays, 8 a.m. – 5 p.m.
    Fridays, 8 a.m. – 4 p.m.

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

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

    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.

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

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

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

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

    The deadline to apply for physical damage applications is July 21, 2025. The deadline to apply for economic injury applications is Feb. 23, 2026.

    ###

    About the U.S. Small Business Administration

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

    MIL OSI USA News –

  • MIL-OSI USA: SBA Opens Disaster Loan Outreach Center in Florissant

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced today the opening of a Disaster Loan Outreach Center (DLOC) in St. Louis County to assist small businesses, private nonprofit (PNP) organizations and residents affected by severe storms, straight-line winds, tornadoes and wildfires occurring March 14-15.

    Beginning Friday, May 30, SBA customer service representatives will be on hand at the Disaster Loan Outreach Center in Florissant to answer questions and assist with the disaster loan application process. No appointment is necessary, walk-ins are welcome. Those who prefer to schedule an in-person appointment in advance can do so at appointment.sba.gov.

    The center’s hours of operation are as follows:

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

    Opens at 1 p.m. Friday, May 30

    Mondays – Thursday, 9 a.m. – 6 p.m.
    Fridays – Saturdays, 9 a.m. – 5 p.m.

    “When disasters strike, SBA’s Disaster Loan Outreach Centers perform an important role by assisting small businesses and their communities,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the U.S. Small Business Administration. “At these centers, our SBA specialists help business owners and residents apply for disaster loans and learn about the full range of programs available to support their recovery.”

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

    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.

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

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

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

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

    The filing deadline to return applications for physical property damage is July 21, 2025. The deadline to return economic injury applications is Feb. 23, 2026.

    ###

    About the U.S. Small Business Administration

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

    MIL OSI USA News –

  • MIL-Evening Report: Most of Australia’s conservation efforts ignore climate risks – here are 3 fixes

    Source: The Conversation (Au and NZ) – By Yi Fei Chung, PhD Candidate in Environmental Policy, The University of Queensland

    Imagine replanting various native species only to have them die because the area is too hot or too dry. Or reconnecting woodland habitat only to lose large tracts to bushfire.

    Well, our new research suggests those scenarios are entirely possible.

    We analysed the two most common ways to prevent overall biodiversity loss on private land in Australia. We found these efforts largely ignore climate risks such as fire, heat, drought and floods.

    Climate change is already threatening the survival of species. Unless conservation efforts are made more resilient to climate change, Australia’s aim to to reverse biodiversity loss could fail.

    What we found

    We examined two types of biodiversity measures in Australia. One is “biodiversity offsets”, which aim to compensate for damage caused by development. The other is voluntary conservation programs, including “conservation covenants”.

    We analysed 77 policy documents underpinning nine biodiversity offset policies and 11 voluntary conservation programs.

    Of the 77 documents, 84% did not consider the impact of climate change. What’s more, only 44% of biodiversity offset policies and 27% of voluntary conservation programs considered climate risk. Even then, they often lacked detail or tools to translate policy into real action on the ground.

    The most common climate adaptation strategies were:

    • safeguarding climate refuges
    • connecting habitat so wildlife can escape extreme heat, fires or droughts
    • targeting funding
    • avoiding offset sites vulnerable to threats such as sea-level rise.

    But most documents lacked details on implementing these strategies.

    We suggest three practical steps to ensure conservation efforts deliver lasting results in a changing climate.

    Few private land conservation programs or biodiversity offset policies took climate change into account.
    Chung, Y. F., et al, (2025) Biological Conservation

    1. Identify and protect climate refuges

    Climate refuges are areas somewhat shielded from the effects of climate change. Gullies, sheltered slopes and forests with good water supplies can help species survive during heatwaves and droughts.

    These places can provide a lifeline for endangered species and prevent local extinctions. Species may shelter in these areas during climate extremes and recolonise well-connected habitats when conditions improve.

    Protecting climate refuges by restricting land clearing or other damaging activities is a common climate adaptation strategy. We found it featured in six policy documents supporting voluntary conservation programs and biodiversity offsets across Australia. But few policy documents explain where these places are or how to protect them.

    For example, the New South Wales Biodiversity Conservation Investment Strategy lists climate refuges as high-priority assets under threat. The strategy says future investment should target these areas.

    But we found no explanation of how investments would be prioritised, or where to find that information. Without this detail, mentioning climate refuges in policy documents is little more than having good intentions.

    To be effective, refuges need to be mapped, prioritised and supported with appropriate protections and incentives. Nature law reform must strengthen protection of climate refuges to prevent further loss.

    Conservation programs could also specifically incentivise landholders to protect or restore refuges on their properties.

    Here’s how to protect Australia’s native species from climate change (The Climate Council)

    2. Promote the actions that build resilience

    On the ground, conservation actions must adapt to climate change. That could mean doing things differently. For example, planting species more likely to survive future climates, or connecting habitat so wildlife can move to new areas.

    While these strategies are well established, we only found three policy documents that mention them. One is the Heritage Agreement policy in South Australia. This offers guidance and potential funding to help landholders implement these actions.

    As Australia’s nature laws are reformed, funding commitments and conservation guidelines need to follow suit.

    Financial incentives or technical support could be offered to landholders for activities that build resilience. Biodiversity offset policies could also mandate conservation actions that improve climate resilience at offset sites.

    3. Adapting to climate change needs to link policy to on-ground action

    Our research found a clear gap between high-level intent and guidelines for on-ground actions. If they don’t line up, then conservation efforts risk falling short. Field programs may lack legal backing, or legislation may not translate into action where it matters most.

    Climate change should be considered at all levels of conservation policies – from high-level legislation to guidelines for implementing individual programs.

    Policies should include clear and consistent targets informed by climate risk. This should be supported by regulations ensuring compliance and practical guidelines for on-ground action.

    Voluntary conservation programs in New South Wales show how it can be done. State biodiversity conservation legislation includes conserving biodiversity under climate change as a key objective. This can then shape real-world programs. For example, the NSW Conservation Management plan echoes this climate commitment. It makes addressing climate change impacts one of the main targets.

    A chance to get it right

    National nature law reform and state reviews present an opportunity to future-proof Australia’s conservation policies.

    These policies must consider the accelerating pace of change and ensure adaptation is embedded through to action. Such actions must be clear, well-resourced, and equipped with practical tools government agencies and landholders can use.

    Otherwise, we risk making conservation policies unfit for the future – missing a golden opportunity to safeguard biodiversity.



    Read more:
    Want genuine progress towards restoring nature? Follow these 4 steps

    Yi Fei Chung receives funding from a UQ Research Training Scholarship. He is also involving in an Australian Research Council Linkage Project that receives financial and in-kind support from the NSW Department of Planning and Environment, the Biodiversity Conservation Trust, Tweed Shire Council, and the NSW Koala Strategy.

    Jonathan Rhodes receives funding from the Australian Research Council, the NSW Government, the Biodiversity Conservation Trust, Tweed Shire Council, the NSW Koala Strategy, and the Queensland Government.

    – ref. Most of Australia’s conservation efforts ignore climate risks – here are 3 fixes – https://theconversation.com/most-of-australias-conservation-efforts-ignore-climate-risks-here-are-3-fixes-257131

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Cantwell Convenes Rapid-Response Press Conference on Chaos for Ports, Businesses as Courts Rebuke Trump‘s Ability to Impose Arbitrary Tariffs

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell
    05.29.25
    Cantwell Convenes Rapid-Response Press Conference on Chaos for Ports, Businesses as Courts Rebuke Trump‘s Ability to Impose Arbitrary Tariffs
    Port of Seattle Commissioner: “If we’re not seen as a reliable partner, it doesn’t mean that trade doesn’t continue – it just doesn’t go through our gateway”; Cantwell praises lower courts’ decisions to end Trump’s illegal tariffs
    SEATTLE, WA – Today, U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation and senior member of the Senate Finance Committee, joined Port of Seattle Commissioner Fred Felleman and Barry Barr, CEO of local outdoor apparel company KAVU, for a press conference overlooking the Port of Seattle’s Terminal 46 to respond to the chaos caused in the last 24 hours as President Donald Trump scrambles to keep his draconian tariffs in place amid court challenges.
    “Two courts have ruled against President Trump’s tariffs. They basically have said he’s exceeded his authority. For almost 24 hours, [business owners] just like Barry heard that good news and thought maybe we were having a reprieve against these terrible actions that are costing consumers more,” Sen. Cantwell said. “American businesses need a rules-based trade system. That means American families would have the certainty, not chaos and not higher prices. We know this: That when you start trade wars, usually that means you end up closing markets.”
    “In business, we need predictability. And it’s just been chaos and uncertainty – and we’re not sure what to do or even where to find the information to lead. Especially in sourcing and manufacturing – the timelines are so long and so far out there, several years, and we just don’t know where to go,” Barr said. “This court verdict is a great sign for American consumers. Hopefully prices won’t increase if we can get back to normal tariffs.”
    “These trade relationships are sticky, in that when you move to another market, once you set up these supply chains, they don’t all come back. And so this is a very dangerous period of time,” Commissioner Felleman said. “If we’re not seen as a reliable partner, it doesn’t mean that trade doesn’t continue – it just doesn’t go through our gateway or our country.”
    Video of the press conference is available HERE; photos are HERE; and a transcript of Sen. Cantwell’s remarks are HERE.
    Last night, a three-judge panel of the U.S. Court of International Trade ruled that President Trump illegally overstepped his authority when he imposed tariffs on most U.S. trading partners on April 2, as well as the additional tariffs on goods from China, Mexico, and Canada.  The Trump administration appealed the U.S. Court of International Trade’s decision to the U.S. Court of Appeals of the Federal Circuit, which this afternoon put a hold on the ruling while it will consider arguments in the case.
    Today, a second federal judge in the U.S. District Court for the District of Columbia also ruled that the President exceeded his authority and issued a preliminary injunction on the collection of the duties, while staying the court’s order for two weeks pending appellate review. The Trump administration also appealed this decision.
    In April, Sen. Cantwell introduced the bipartisan Trade Review Act of 2025 to reaffirm Congress’ key role in setting and approving U.S. trade policy, and reestablish limits on the president’s ability to impose unilateral tariffs. Her bill has since picked up 12 additional cosponsors – an equal mix of Republicans and Democrats – and been endorsed by multiple major U.S. business organizations, including the National Retail Federation, which is the largest retail trade association in the world. House members also introduced a bipartisan companion bill. On April 16, Sen. Cantwell joined nine local business owners and leaders at the Port of Seattle to push back against the Trump administration’s chaotic tariffs-first trade policy.
    In Washington state, two out of every five jobs are tied to trade and trade-related industries. More information about how those tariffs will affect consumers and businesses in the State of Washington can be found HERE.  
    For the past four months, President Trump has been sowing economic chaos across the country with unpredictable and ever-changing tariff announcements. His back-and-forth announcements and actions have whipsawed American businesses and consumers, as well as close neighbors and allies.

    MIL OSI USA News –

  • MIL-OSI Global: Trump’s global trade plans are in disarray, amid legal appeals to a US court ruling on ‘Liberation Day’ tariffs

    Source: The Conversation – Global Perspectives – By Susan Stone, Credit Union SA Chair of Economics, University of South Australia

    Earlier this week, a US court blocked the so-called “Liberation Day” tariffs that US President Donald Trump imposed on imported goods from around 90 nations.

    On Wednesday (US time), the Court of International Trade ruled the emergency authority Trump used to impose the tariffs could not override the role of Congress, which has the right to regulate commerce with other countries.

    The following day, however, the US Court of Appeals for the Federal Circuit in Washington paused the trade court’s ruling, temporarily reinstating Trump’s tariffs. The earlier court ruling, and the fresh uncertainty prompted by the appeal have left the implementation of Trump’s trade policy in disarray.

    Even though it has been paused, the trade court’s ruling calls into question trade negotiations underway with more than 18 different nations, which are trying to lower these tariffs. Do these countries continue to negotiate or do they wait for the judicial process to play out?

    The Trump administration still has other mechanisms through which it can impose tariffs, but these have limits on the amount that can be imposed, or entail processes which can take months or years. This undermines Trump’s preferred method of negotiation: throwing out large threats and backing down once a concession is reached.

    Emergency powers were a step too far

    The lawsuits were filed by US importers of foreign products and some US states, challenging Trump’s use of the International Emergency Economic Powers Act of 1977.

    The lawsuits argued the national emergencies cited in imposing the tariffs – the trade deficit and the fentanyl crisis – were not an emergency and not directly addressed by the tariff remedy. The court agreed, and said by imposing tariffs Trump had overstepped his authority.

    The ruling said the executive orders used were “declared to be invalid as contrary to law”.

    The act states the president is entitled to take economic action in the face of “an unusual and extraordinary threat”. It’s mainly been used to impose sanctions on terrorist groups or freeze assets from Russia. There’s nothing in the act that refers to tariffs.

    The decision means all the reciprocal tariffs – including the 10% tariffs on most countries, the 50% tariffs Trump was talking about putting on the EU, and some of the Chinese tariffs – are ruled by the court to be illegal.

    The ruling was based on two separate lawsuits. One was brought by a group of small businesses that argued tariffs materially hurt their business. The other was brought by 12 individual states, arguing the tariffs would materially impact their ability to provide public goods.

    Some industry tariffs will remain in place

    The ruling does not apply to tariffs applied under Section 201, known as safeguard tariffs. They are intended to protect industries from imports allegedly being sold in the US market at unfair prices or through unfair means. Tariffs on solar panels and washing machines were brought under this regulation.

    Also excluded are Section 232 tariffs, which are applied for national security reasons. Those are the steel and aluminium tariffs, the automobile and auto parts tariffs. Trump has declared all those as national security issues, so those tariffs will remain.

    Most of the tariffs against China are also excluded under Section 301. Those are put in place for unfair trade practices, such as intellectual property theft or forced technology transfer. They are meant to pressure countries to change their policies.

    Other trade investigations are still underway

    In addition, there are current investigations related to copper and the pharmaceuticals sector, which will continue. These investigations are part of a more traditional trade process and may lead to future tariffs, including on Australia.

    The Trump administration is still weighing possible sector-specific tariffs on pharmaceuticals.
    Planar/Shutterstock

    Now for the appeals

    Following the subsequent reinstatement of tariffs, we now have to wait for the appeals process to play out. This may take some time. The plaintiffs have until June 5 to respond, and the Trump administration has until June 9.

    In the meantime, there are at least five other legal challenges to tariffs pending in the courts.

    If the appeals court provides a ruling the Trump administration or opponents don’t like, they can appeal to the Supreme Court.

    Alternatively, the White House could direct customs officials to ignore the court and continue to collect tariffs.

    The Trump administration has ignored court orders in the past, particularly on immigration rulings.

    The administration is unlikely to lie down on this. In addition to its appeal process, officials complained about “unelected judges” and “judicial overreach” and may contest the whole process. The only thing that continues to be a certainty is that uncertainty will drive global markets for the foreseeable future.

    Susan Stone 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. Trump’s global trade plans are in disarray, amid legal appeals to a US court ruling on ‘Liberation Day’ tariffs – https://theconversation.com/trumps-global-trade-plans-are-in-disarray-amid-legal-appeals-to-a-us-court-ruling-on-liberation-day-tariffs-257812

    MIL OSI – Global Reports –

  • MIL-OSI USA: Larsen Requests Nearly $37 Million for 15 Local Projects in Fiscal Year 2026 Spending Bill

    Source: United States House of Representatives – Congressman Rick Larsen (2nd Congressional District Washington)

    WASHINGTON, D.C.  – Rep. Rick Larsen (WA-02) has requested $36,773,695 for 15 local projects in the Fiscal Year 2026 spending bill. Larsen submitted the requests to the House Appropriations Committee as the Committee begins work on legislation to fund the federal government.

    “My priority in shaping spending bills is to invest in Northwest Washington communities,” said Larsen. “I will continue to work closely with community leaders and stakeholders to secure critical funding to create more jobs, build better infrastructure and improve vital services residents rely on.”

    The spending bill will include earmark funding for community projects that local leaders and stakeholders identified as critical to their communities. Larsen secured more than $19.3 million for 15 Northwest Washington projects in the Fiscal Year 2024 spending package, which was signed into law in March 2024.

    Northwest Washington Community Project Funding Requests

    Larsen requested the following earmarks to invest in Northwest Washington communities:

    Investing in a Cleaner, Greener, Safer and More Accessible Transportation System

    • Community Transit’s Bus Replacement Project: This project will enable Community Transit to purchase two battery electric buses with chargers to replace diesel buses that are beyond their expected useful life. ($3,000,000)
    • City of Lynden’s Pepin Flood, Agriculture, Salmon and Safety Transportation (FASST): This project will complete design and support construction of a new channel for Pepin Creek, and complete design and construction of the Pepin Parkway Bridge. ($2,448,000)
    • Snohomish County’s Everett Intermodal Yard and Curve Improvements: The project will improve rail shipping capability, safety, and reliability for freight and intercity passenger service at the Everett Intermodal Yard. These improvements will benefit both BNSF freight trains and Amtrak Cascades service. ($2,000,000)

    Investing in Community Services

    • City of Anacortes’ Community Event Center: The project will support final design and construction for a central event space to host large-scale tourist-oriented events, local nonprofit events and private rentals located near the Anacortes waterfront and downtown. ($3,000,000)
    • Lopez Island Family Resource Center’s Food Center: This project will construct a mixed-use food center, including a community kitchen, shared farm stand, rental spaces, and gathering areas for pop-up shops, in addition to a home base for the San Juan Food Hub and local food bank. ($2,500,000)
    • City of Edmonds’ Food Bank and Community Engagement Space: This project will support an expanded facility for Edmonds Food Bank, including increased food bank space, a commercial kitchen, an urban garden and community meeting spaces. ($2,000,000)
    • City of Bellingham’s Bellingham Central Library Renovation: This project will support exterior renovation of the Bellingham Central Library, including updated windows, upgraded main and children’s entrances, and a refreshed plaza. ($2,000,000)
    • Whatcom County and Domestic Violence and Sexual Assault Services of Whatcom County’s (DVSAS) Douglas Building Preservation: This project will support the renovation of a building used by DVSAS to serve survivors of domestic violence and sexual assault. ($1,510,295)
    • Whatcom County Sheriff Office’s Portable Radio Replacement Project: This project will support the purchase of new portable radios to replace outdated radios that are failing, allowing deputies to communicate clearly with dispatch and each other. ($600,000)
    • Orcas Senior Center’s Roof Replacement: This project will repair the failing roof of the facility, ensuring seniors can continue to access services. ($175,000)

    Investing in Education and Workforce Development

    • Edmonds College and Latino Educational Training Institute’s (LETI) Incubator for Family Success: This project will establish a comprehensive community center that includes a cultural retention and arts center, vocational school, commercial kitchen, deli-specialty store and child care circles. ($4,250,000)
    • Western Washington University’s (WWU) Shannon Point Marine Center Research Vessel: This project will support acquisition of a new research vessel for WWU marine and coastal science educational and research activities. ($1,490,400)

    Investing in Critical Infrastructure

    • Port of Everett’s South Marina Terminal Replacement Project: The project will replace the existing Dock 1 in the South Marina that has exceeded its useful life with a new structure that will provide greater utility capacity to serve potential small cruise and passenger ferry service. ($5,000,000)
    • Port of Edmonds’ North Portwalk and Seawall Reconstruction: This project will repair the Port’s seawall, which is urgently needed to protect the Port and surrounding community from flooding and extreme weather. The project will also create new public use spaces for recreational activity and replace the boardwalk to improve public access and increase economic development for the businesses on and surrounding the port. ($4,000,000)
    • Island County’s Recycling and Reuse Station: This project will build a new solid waste transfer station that will significantly enhance the efficiency of the county’s waste management processes, reducing costs for local rate payers and mitigating associated impacts to public health, safety and the environment. ($2,800,000)


    What Northwest Washington Community Leaders and Stakeholders Are Saying

    Community Transit CEO Ric Ilgenfritz on the Bus Replacement Project: “Community Transit ensures that people of all walks of life can easily and reliably get from where they are to where they want to be. In order to live up to this mission, it’s critical that buses are maintained and replaced according to schedule. We are grateful to Rep. Larsen for prioritizing the Bus Replacement Project, enabling us to serve customers with lower pollution buses that benefit everyone in Snohomish County.”

    Lynden Mayor Scott Korthuis on the Pepin Flood, Agriculture, Salmon and Safety Transportation (FASST) Project: “The Lynden FASST project (Flood, Agriculture, Salmon, Safety and Transportation) is a significant investment in infrastructure for the city to provide housing opportunities in what is a difficult area of the city to develop.  With the support of Representative Larsen on this project, we will continue to develop the needed infrastructure in this area of the city and provide a variety of housing types.  We greatly appreciate Representative Larsen moving this project forward and investing in Lynden.”

    Snohomish County Executive Dave Somers on the Everett Intermodal Yard and Curve Improvements Project: “We are grateful for Congressman Larsen’s support for this vital rail project. If we receive the funding, the renovated intermodal yard will allow us and our rail partners to continue a sustainable and low impact operation for our residents, ensuring public health and safety are prioritized.”

    Anacortes Mayor Matt Miller on the Anacortes Community Event Center project: “We are deeply grateful to Congressman Larsen for championing the Anacortes Community Event Center project. His support for this waterfront facility—developed in partnership with the Port of Anacortes—reflects a strong commitment to strengthening our community, our economy, and our shared public spaces. This proposed investment will help create a vibrant gathering place for residents and visitors alike, and we appreciate the Congressman’s leadership in moving this vision forward.”

    Lopez Island Family Resource Center Executive Director Barbara Schultheiss on the Lopez Food Center Project: “The Lopez Food Center believes that a thriving local food system and strong economy are essential to a healthy, sustainable life here on Lopez. The construction of the food center will create a vital central gathering place—that will provide a much needed new space for the food bank; increase sales of local farm products with space for a communal farm stand and the San Juan Food Hub; creates opportunities for food businesses to grow/expand with storage, commercial kitchen and event space; and, provide critical trainings and supports for food businesses.  This shared facility will increase efficient food production and distribution and support the health and well-being of Lopez Island residents by increasing access to nutritious food and hands-on opportunities in the local food economy.”

    Edmonds Mayor Mike Rosen on the Edmonds Food Bank and Community Engagement Space Project: “We greatly appreciate the leadership of Rep. Larsen to support the Edmonds Food Bank. We know that many people in our community are struggling with food insecurity, and sadly the numbers are increasing, so this funding request is vitally important.”

    Edmonds Food Bank Executive Director Casey Davis on the Edmonds Food Bank and Community Engagement Space Project: “We are incredibly grateful to Representative Larsen for continuing to advocate for our community. As the need for food assistance continues to rise and other critical funding sources are eliminated, this $2 million request is vital to help us build a new facility that meets the growing needs of the individuals we serve in a respectful and efficient way. A new food bank and community engagement space will allow us to provide not only nutritious and culturally relevant food, but also deeper connection, dignity, and resources for long-term stability for our entire community. We cannot do this alone, we need the strength of continued partnerships to make this vision a reality.”

    Bellingham Mayor Kim Lund on the Bellingham Central Library Renovation Project: “Our library is a well-loved institution that gives community members opportunities to learn, grow, and connect. We are grateful for Rep. Larsen’s request for funding, which would help us make the library more accessible, comfortable, and welcoming, especially for families and children.”

    Whatcom County Health and Community Services Co-Health Officer Dr. Amy Harley on the DVSAS Douglas Building Preservation Project: “Whatcom County Health and Community Services is pleased to support the rehabilitation of the Douglas Building, the home of Domestic Violence and Sexual Assault Services of Whatcom County (DVSAS) in Bellingham. Washington. The Douglas building is used to provide critical counseling, legal support, and children’s programs for survivors of domestic violence, sexual assault, and sexual exploitation, and is an essential part of the continuum of care for this vulnerable population. The Douglas Building, however, is more than a building – it’s a lifeline for survivors of domestic violence and sexual assault in Whatcom County. Investing in its rehabilitation will ensure that DVSAS staff can continue to provide high-quality, trauma-informed care in a safe and trusted location, where individuals and families can begin the process of healing with dignity and respect.”

    Domestic Violence and Sexual Assault Services of Whatcom County on the DVSAS Douglas Building Preservation Project: “Domestic Violence & Sexual Assault Services of Whatcom County (DVSAS) extends its deepest gratitude to Congressman Larsen and his team for their efforts in prioritizing funding to preserve our downtown support center. Securing this vital funding guarantees continued access to essential services for individuals experiencing domestic or sexual violence, ensuring survivors have a lifeline to safety and immediate access to crisis services. Congressman Larsen’s commitment to preserving our downtown support center ensures everyone in our community has access to safety and support, now and for years to come.”

    Whatcom County Sheriff Donnell “Tank” Tanksley on the Whatcom County Sheriff’s Department Portable Radio Replacement Project: “Great training and bullet-proof vests aren’t all that keep our Patrol Deputies safe. Portable radios ensure deputies can communicate hazards, status and needs in the field. During the upcoming World Cup – with matches in Seattle and Vancouver, B.C. – increasing traffic through Whatcom County, it is vital that radios are interoperable with international agencies. Our current portables are not. We are grateful to Congressman Rick Larsen for his support of this essential need.”

    Orcas Senior Center Board Member John Ehrmantraut on the Orcas Senior Center Roof Replacement Project: “As Chair of Orcas Senior Center, I can’t stress enough how critical it is to replace our aging roof —not just to protect the building, but to safeguard the essential services and sense of community this space provides to Orcas Island residents. This center is a cornerstone of our island community, and protecting it means protecting the people who rely on it every day.”

    Edmonds College President Dr. Amit Singh on the LETI Incubator for Family Success Project: “Edmonds College is committed to our partnership with LETI in supporting first generation immigrants and their success. This resource center will empower individuals and families by providing assistance with everything from navigating social services to pursuing higher education. I am very thankful to Representative Larsen for his ongoing support of LETI and Edmonds College.”

    Founder & CEO of Latino Educational Training Institute Rosario Reyes on the LETI Incubator for Family Success Project: “We deeply appreciate Representative Larsen’s support for LETI’s Incubator for Family Success and are grateful to Edmonds College for joining us as a vital partner in this initiative. This new center will serve as a lasting community hub for Latino and low-income families in Snohomish County—a place to celebrate culture, host life events, and access essential services. With dedicated offices and classrooms, LETI will continue advancing its mission to empower Latino families through education, business development, family health, and support for financial advancement.”

    Western Washington University President Sabah Randhawa on the Shannon Point Marine Center Research Vessel Project: “Western Washington University appreciates Representative Larsen’s efforts to include funding for a new research vessel at Shannon Point Marine Center as part of the FY26 budget. If funded, this investment will significantly enhance our ability to study the Salish Sea and surrounding coastal ecosystems while expanding hands-on research opportunities for Washington’s next generation of scientists.”

    Port of Everett CEO Lisa Lefeber on the South Marina Terminal Replacement Project: “The reconstruction of Dock 1 will bring new commercial opportunities to the Everett waterfront, including possible passenger-only ferry service and small regional cruise visits for the first time to the area. This investment in transportation infrastructure will benefit jobs and recreation, therefore investing in our economy. The Port of Everett appreciates Congressman Larsen’s support of this infrastructure investment.”

    Port of Edmonds Commission President David Preston on the North Portwalk and Seawall Reconstruction Project: “We are grateful to Representative Rick Larsen for his continued support of the North Portwalk and Seawall Reconstruction Project. The Port will utilize funds to advance our project into its third and final phase. Vital repairs to the marina seawall will protect the Port and the surrounding area from flooding, erosion, and storm surges. At the same time, the improvements to the Port’s boardwalk will enhance the public’s use and experience on the waterfront.”

    Chair of the Board of Island County Commissioners Jill Johnson on the Island County Recycling and Reuse Station Project: “We are incredibly grateful for Representative Larsen’s leadership and support for Island County. Federal funding for the Island County Recycling and Reuse Station will improve upon and expand the county’s waste removal and recycling capacity, directly enabling growth and increasing environmental resiliency.”

    ###

    MIL OSI USA News –

  • MIL-OSI USA: U.S. Rep. Kathy Castor Leads Colleagues in Urging Meta Halt Deployment of Companion Bots to Children

    Source: United States House of Representatives – Reprepsentative Kathy Castor (FL14)

    TAMPA, Fla. – U.S. Reps. Kathy Castor (FL-14), Jake Auchincloss (MA-04), Debbie Dingell (MI-06), Doris Matsui (CA-07), Kim Schrier (WA-08) and Lori Trahan (MA-03), member of the U.S. House Energy and Commerce Committee, wrote to Meta’s Mark Zuckerberg to urge immediate action to halt the deployment of all AI-powered social companion bots to users under the age of eighteen and any AI companion bot that simulates the likeness of a child or teen.

    “It is our understanding that Meta facilitates inappropriate ‘romantic role-play’ with these companion bots that alarms even employees of your own company. These inappropriate AI systems pose significant safety risks to children and teenagers who use Meta’s platforms. It is paramount that social media platforms such as Instagram, Facebook and WhatsApp keep wellness, safety and the best interests of its youngest users at the center of all designs, and we do not believe that these chatbots meet these criteria,” the lawmakers wrote.

    The lawmakers continued, “According to reporting, Meta staff specifically warned leadership that design choices ‘gave adult users access to hypersexualized underage AI personas and, conversely, gave underage users access to bots willing to engage in fantasy sex with children.’ Despite these internal warnings, Meta reportedly proceeded with deploying these technologies to maximize user engagement by loosening guardrails around sexual content in the process.”

    The lawmakers’ letter follows a Wall Street Journal investigation that uncovered Meta’s AI companion bots engaged in sexually explicit conversations with accounts registered to minors, and continued inappropriate interactions while acknowledging the user was underage. Some bots went on to incorporate the minor’s age into sexual scenarios and discussed ways to avoid detection by parents. The investigation further revealed that some of Meta’s most popular companion bots are designed to impersonate children and teens, enabling adult users to engage in sexual roleplay with simulated minors.

    Rep. Castor discussed the harms posed by chatbots on children in a recent Energy and Commerce hearing as House Republicans advanced their policy in a budget reconciliation package that included a ten-year state ban on regulating artificial intelligence.

    Read the full letter here:

    Dear Mr. Zuckerberg,

    We write with strong concern regarding reports of Meta deploying AI-powered social companion bots to users under the age of 18, as well as deploying “companion bots” that simulate the likeness of children and teens. It is our understanding that Meta facilitates inappropriate “romantic role-play” with these companion bots that alarms even employees of your own company. These inappropriate AI systems pose significant safety risks to children and teenagers who use Meta’s platforms. It is paramount that social media platforms such as Instagram, Facebook and WhatsApp keep wellness, safety and the best interests of its youngest users at the center of all designs, and we do not believe that these chatbots meet these criteria.

    A Wall Street Journal investigation has documented alarming instances in which Meta’s AI companion bots engaged in sexually explicit conversations with accounts registered to minors. Even more disturbing, the investigation found that some bots continued these inappropriate interactions while acknowledging the user was underage, with some bots even incorporating the minor’s age into sexual scenarios and discussing ways to avoid parental detection. The investigation further revealed that some of Meta’s most popular companion bots are designed to impersonate children and teens, enabling adults to engage in sexual roleplay with these simulated minors.

    The dangers posed by these AI systems are substantial and immediate. Children and teens are especially vulnerable to forming unhealthy attachments to AI companions, which can lead to:

    • Psychological dependency and addiction to these technologies;
    • Disruption of normal social development and real-life human interactions;
    • Exposure to age-inappropriate sexual content and conversations; and
    • In the most tragic cases, serious harm or death. 

    This follows a troubling trend that we have seen from Meta over the years. According to reporting, Meta staff specifically warned leadership that design choices “gave adult users access to hypersexualized underage AI personas and, conversely, gave underage users access to bots willing to engage in fantasy sex with children. “Despite these internal warnings, Meta reportedly proceeded with deploying these technologies to maximize user engagement by loosening guardrails around sexual content in the process.

    This prioritization of profit and engagement over child safety follows a disconcerting pattern. Internal documents revealed in litigation have shown that Meta has knowledge of the negative impacts its engagement-maximizing features have on minors’ mental health and wellbeing, yet the company continues to push for increased usage among young users.

    We urge Meta to take immediate action to halt the deployment of all AI-powered social companion bots to users under the age of 18 and halt the deployment of any AI companion bot that simulates the likeness of a child or teen.

    Additionally, we request that you provide answers to the following questions by June 6, 2025:

    1. Please identify what factors or training have led Meta’s AI companions to speak explicitly with known minor users.
    2. Please identify what factors or training have led Meta’s AI companions that simulate the likeness of children and teens to speak explicitly with known adult users.
    3. Please provide all internal communications, reports and analyses regarding the safety risks of Meta’s AI companions.
    4. Please provide all internal warnings, concerns, or objections raised by Meta employees leading to deployment.
    5. Did Meta conduct any research into or test the mental health impact of launching its AI companion bots to underage users? Please provide all relevant internal research or testing into the safety of Meta’s AI companions.
    6. What safeguards will Meta implement to ensure that known adult users cannot engage in sexually explicit conversations with AI companions that simulate the likeness of children and teens.
    7. Please provide a comprehensive list of all AI companion bots available on Meta platforms that are designed to simulate minors or that could appeal specifically to children and teens.

    Almost a year and a half has passed since you publicly apologized to parents, many who’ve lost their children, for damage inflicted by Meta’s products and promised to undergo “industry-leading efforts to make sure that no one has to go through the types of things that your families have had to suffer.” Some of Meta’s youngest users have experienced sexual exploitation, been cyberbullied, or have developed unhealthy eating habits or suicide and self-injury behaviors that have been promoted to them by Meta’s algorithms. Despite this, Meta has deployed its new harmful companion bot feature, prioritizing profits over the safety and wellbeing of children and teenagers. It is Meta’s responsibility to facilitate an online environment that is safe, especially for your youngest users.

    We look forward to your prompt response and to working together to ensure the protection of children and teens online.

    Sincerely,

    MIL OSI USA News –

  • MIL-OSI: $HAREHOLDER ALERT: Class Action Attorney Juan Monteverde Investigates the Merger A SPAC III Acquisition Corp. (NASDAQ: ASPCU)

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, May 29, 2025 (GLOBE NEWSWIRE) —

    Class Action Attorney Juan Monteverde with Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report. The firm is headquartered at the Empire State Building in New York City and is investigating A SPAC III Acquisition Corp. (NASDAQ: ASPCU) relating to the proposed Merger with Bioserica International Limited 禾素國際有限公司. Pursuant to the terms of the Merger Agreement, relating to the proposed merger with Under pursuant to the terms of the Merger Agreement, the aggregate consideration to be paid to existing shareholders and holders of equity awards of Bioserica is $200,000,000, which will be paid entirely in stock, comprised of newly issued Class B Ordinary Shares of the Purchaser at a price of $10.00 per share.

    Click here for more info https://monteverdelaw.com/case/a-spac-iii-acquisition-corp/. It is free and there is no cost or obligation to you.

    NOT ALL LAW FIRMS ARE EQUAL. Before you hire a law firm, you should talk to a lawyer and ask:

    1. Do you file class actions and go to Court?
    2. When was the last time you recovered money for shareholders?
    3. What cases did you recover money in and how much?

    About Monteverde & Associates PC

    Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court. 

    No one is above the law. If you own common stock in the above listed company and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

    Contact:
    Juan Monteverde, Esq.
    MONTEVERDE & ASSOCIATES PC
    The Empire State Building
    350 Fifth Ave. Suite 4740
    New York, NY 10118
    United States of America
    jmonteverde@monteverdelaw.com
    Tel: (212) 971-1341

    Attorney Advertising. (C) 2025 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com).  Prior results do not guarantee a similar outcome with respect to any future matter.

    The MIL Network –

  • MIL-OSI: $HAREHOLDER ALERT: Class Action Attorney Juan Monteverde Investigates the Merger of Informatica Inc. (NYSE INFA)

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, May 29, 2025 (GLOBE NEWSWIRE) —

    Class Action Attorney Juan Monteverde with Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report. The firm is headquartered at the Empire State Building in New York City and is investigating Informatica Inc. (NYSE INFA) (“Informatica”) related to Informatica’s agreement to be acquired by Salesforce. Under the terms of the agreement, Informatica shareholders will receive $25.00 per share in cash.

    Click here for more info https://monteverdelaw.com/case/informatica-inc/. It is free and there is no cost or obligation to you.

    NOT ALL LAW FIRMS ARE EQUAL. Before you hire a law firm, you should talk to a lawyer and ask:

    1. Do you file class actions and go to Court?
    2. When was the last time you recovered money for shareholders?
    3. What cases did you recover money in and how much?

    About Monteverde & Associates PC

    Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court. 

    No one is above the law. If you own common stock in the above listed company and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

    Contact:
    Juan Monteverde, Esq.
    MONTEVERDE & ASSOCIATES PC
    The Empire State Building
    350 Fifth Ave. Suite 4740
    New York, NY 10118
    United States of America
    jmonteverde@monteverdelaw.com
    Tel: (212) 971-1341

    Attorney Advertising. (C) 2025 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com).  Prior results do not guarantee a similar outcome with respect to any future matter.

    The MIL Network –

  • MIL-OSI USA: Over $2 Million in SBA Relief Approved to Help New Jersey Rebuild After Sinkholes on Interstate 80

    Source: United States Small Business Administration

    ATLANTA – The U.S. Small Business Administration (SBA) has approved more than $1.8 million in federal disaster loans to support New Jersey businesses and private nonprofits (PNP) organizations affected by the sinkholes on Interstate 80 occurring Dec. 26, 2024. As of May 22, 2025, the SBA has provided over $2 million to businesses/EIDL in the wake of this disaster.

    “Surpassing $1.8 million in disaster loans reflects more than just numbers — it represents small businesses reopening, families returning home and communities rebuilding stronger,” said Chris Stallings, associate administrator for the SBA’s Office of Disaster Recovery and Resilience. “These loans provide vital support for recovery, and we encourage anyone still in need to apply before the deadline.”

    Economic Injury Disaster Loan (EIDL) program is still available to small businesses and private nonprofit (PNP) organizations for working capital needs caused by the disaster. EIDLs are available regardless of whether the organization suffered any physical property damage and may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses, 3.62% for nonprofits, with terms up to 30 years. Interest does not 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.

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

    The filing deadline to return economic injury applications is January 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 or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov. 

    MIL OSI USA News –

  • MIL-OSI Security: Nevada Man Who Stole Over $7M in Treasury Checks, Sentenced to Six Years in Prison

    Source: Office of United States Attorneys

    SALT LAKE CITY, Utah – Kyle Eugene Duncan-Carle, 41, of Las Vegas, Nevada, was sentenced to 72 months’ imprisonment and five years’ supervised release after he admitted to bank fraud in 2023.

    In addition to his term of imprisonment, Duncan-Carle, was ordered to pay $3,490,634.75 in restitution.

    According to court documents and statements made at Duncan-Carle’s change of plea and sentencing hearings, from January 2023 through September 2023 in the District of Utah. Duncan-Carle stole U.S. Treasury checks made out to individuals and companies, assumed the identity of the individuals whose names were on the checks, opened credit union accounts under the assumed identities, and then deposited the checks and withdrew the funds. Duncan-Carle admitted the scheme resulted in at least eight stolen treasury checks that totaled $7,975,621.22. As a result, Duncan-Carle cost the United States government, financial institutions, and a financial institution’s insurance provider $3,490,634.75.

    Acting U.S. Attorney Felice John Viti of the District of Utah made the announcement.  

    The case was investigated jointly by the Internal Revenue Service, Criminal Investigations (IRS-CI); the Internal Revenue Service Treasury Inspector General for Tax Administration (TIGTA); and the FBI Salt Lake City Field Office.  

    Assistant United States Attorneys Stephen P. Dent and Luisa Gough of the U.S. Attorney’s Office for the District of Utah prosecuted the case. 
     

    Release No. 25-71

    MIL Security OSI –

  • MIL-OSI Security: Sovereign Health Group Founder and Ex-CEO Arrested on Indictment Alleging Long-Running, Massive Fraud Against Health Insurers

    Source: Office of United States Attorneys

    SANTA ANA, California – The founder and former CEO of the now-defunct Sovereign Health Group addiction treatment provider was arrested today on an eight-count federal grand jury indictment alleging he submitted more than $149 million in fraudulent claims to health insurers – including for fraudulent urinalysis claims – and, in addition, paid more than $21 million in illegal kickbacks for patient referrals.

    Tonmoy Sharma, 61, of Tustin, was arrested this afternoon at Los Angeles International Airport and is expected to make his initial appearance and be arraigned tomorrow in United States District Court in downtown Los Angeles. 

    Sharma is charged with four counts of wire fraud, one count of conspiracy, and three counts of illegal remunerations for referrals to clinical treatment facilities.

    Also arrested today was co-defendant Paul Jin Sen Khor, 45, of Irvine, who worked as Sovereign’s cash management and accounts payable supervisor. Khor is charged with one count of conspiracy and one count of illegal remunerations for referrals to clinical treatment facilities. Khor was arraigned this afternoon in United States District Court in Santa Ana. He pleaded not guilty and a July 29 trial date was scheduled. A federal magistrate judge ordered him released on $20,000 bond.

    According to the indictment, the San Clemente-based Sovereign once was a prominent addiction treatment provider throughout Southern California and several other states. From 2014 to 2020, Sovereign billed private insurance companies for drug addicted and mentally ill patients often at high, out-of-network rates.

    At Sharma’s direction, Sovereign employees aggressively pursued patients through various forms of marketing, directing the patients to contact the company at its toll-free phone number. Once patients called in to Sovereign’s call center, employees used various tactics to enroll patients into the company’s treatment facilities, including misrepresentations. One such misrepresentation was that a patient’s treatment would be paid for by a foundation funded by donations from former Sovereign patients.

    In fact, the foundation was a sham organization and a ruse for Sovereign employees – at Sharma’s direction – to obtain patients’ names, dates of birth, and Social Security numbers for use in surreptitiously obtaining health insurance coverage on their behalf. In order to obtain these private health insurance plans, Sovereign employees, at Sharma’s direction, made false representations on insurance applications, claiming qualifying life events that had not happened in order to obtain new insurance outside the enrollment period and inflating or underreporting their income so the patients would qualify for Affordable Care Act government-subsidized private insurance instead of Medicaid, whose reimbursement rates were significantly lower than private insurers.

    Patients generally did not know that Sovereign would enroll them into these policies or authorize Sovereign to do so. Sovereign employees at times even pretended to be the patients when calling into those insurance companies. Those insurance companies would not have covered any services under plans obtained by these fraudulent means.

    Sovereign also fraudulently billed insurers more than $29 million for urinalysis tests not authorized by the purported ordering health providers. At Sharma’s direction, Sovereign submitted fraudulent claims for comprehensive urinalysis screening, including through its laboratory, Vedanta Laboratories Inc. Sovereign patients were frequently drug tested through both cup testing and comprehensive panel testing. The cup testing returned results within minutes, while the panel testing was much more comprehensive, with results taking several days to return. The comprehensive panel testing screened for dozens of different substances and, accordingly, was billed at a significantly higher rate than cup testing.

    Sharma directed Sovereign employees to frequently administer cup testing and comprehensive panel testing on patients, including comprehensive panel testing up to three times a week. Sovereign submitted thousands of claims to insurance companies, including for comprehensive panel tests that purportedly were authorized by physicians when, in reality, the physicians did not authorize the tests. Sovereign also submitted numerous claims to the insurance companies, including urinalysis tests, after physicians were no longer working at Sovereign. 

    Finally, in addition to the patients obtained through the call center above, Sharma and Khor also procured patients for Sovereign by paying illegal kickbacks to patient brokers. To conceal the nature of these transactions, Sharma and Khor caused Sovereign to enter sham contracts that referred to the brokers’ services as “marketing hours,” a term the brokers used when sending invoices to Sovereign for payment. Sovereign paid more than $21 million in illegal kickbacks for patient referrals.

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

    If convicted, Sharma would face a statutory maximum sentence of 20 years in federal prison for each wire fraud count. Both defendants would face up to five years in federal prison for the conspiracy count, and up to 10 years in federal prison for each illegal remunerations count.

    The FBI, the United States Department of Health and Human Services Office of Inspector General, and the California Department of Health Care Services are investigating this matter.

    Assistant United States Attorney Solomon Kim of the Major Frauds Section is prosecuting this case.

    MIL Security OSI –

  • MIL-OSI: Automotive Finco Corp. Files Condensed Interim Consolidated Financial Statements for the three months ended March 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    Not for distribution to United States newswire services or for dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.

    TORONTO, May 29, 2025 (GLOBE NEWSWIRE) — Automotive Finco Corp. (NEX: AFCC-H) (the “Company”) today announced that it has filed condensed interim consolidated financial statements for the three months ended March 31, 2025. The statements together with the Management Discussion and Analysis can be found on the Company’s SEDAR+ profile at www.sedarplus.ca. 

    About Automotive Finco Corp.

    Automotive Finco Corp. is a finance company focused exclusively on the auto retail sector. In addition to its interest in Automotive Finance Limited Partnership, the Company may also pursue other direct investments and financing opportunities across the auto retail sector.

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

    For further information please refer to the Company’s website at www.autofincocorp.com or contact Shannon Penney, Chief Financial Officer, at shannon.penney@rogers.com or (905) 619-4996.

    The MIL Network –

  • MIL-OSI New Zealand: Terms of Reference Inquiry into Ports and the Maritime Sector

    Source: New Zealand Parliament –

    New Zealand’s ports (both marine and inland) and maritime sectors plays a crucial role in global trade, transportation, and economic development.

    The Transport and Infrastructure Committee will establish an Inquiry into the Ports and Maritime Sectors to examine the current state, challenges, and future opportunities within the ports and maritime sectors. The Inquiry will focus on:

    1. Economic Contribution and Efficiency
      • Assessing the contribution of ports and maritime industries to trade, logistics, and both regional and national economic development. This includes the scale, nature of operations, and markets of ports around New Zealand.
      • Understanding how ports and related infrastructure interact with other marine fleets operating in New Zealand (such as the national fishing fleet).
      • Investigating instances where competition between ports may be affected by market distortions.
    2. Infrastructure and Investment needs
      • Evaluating the adequacy of existing infrastructure and identifying key investment priorities to support future growth.
      • Reviewing the interface between ports and the relevant parts of the land and maritime transport system.
      • Examining the current and potential role of coastal shipping within New Zealand’s broader transport network.
      • Looking into the adequacy and locations of drydock facilities.
      • Reviewing technological developments in the sector and how these can help support the sector’s growth.
      • Looking into the safety practices, both in ports and on the sea.
      • Understanding the consenting environment facing ports.
    3. Regulation, Governance, and Ownership of Ports
      • Reviewing the current regulatory frameworks, funding, ownership, and governance structures to ensure effective oversight and coordination.
      • Examining the role of Maritime New Zealand in regulating the maritime sector.
    4. Environmental Sustainability
      • Investigating the environmental impact of the sector
      • Understanding the sector’s progress toward decarbonisation.
      • Reviewing the climate resilience of the sector.
    5. Workforce and Skills Development
      • Considering the workforce capacity, training and education pipeline, and labour market challenges facing the industry.
    6. Security and Supply Chain Resilience
      • Examining the sector’s role in national security, emergency response, and supply chain continuity.
      • Understanding international shipping and supply arrangements.

    The committee will gather evidence through public submissions, hearings, and stakeholder consultations, and report its findings and recommendations to Parliament.

    MIL OSI New Zealand News –

  • MIL-OSI: VERAXA Biotech to Attend Key Industry Conferences to Showcase BiTAC Technology Platform

    Source: GlobeNewswire (MIL-OSI)

    ZURICH, May 29, 2025 (GLOBE NEWSWIRE) — VERAXA Biotech AG (“VERAXA”), an emerging leader in designing novel cancer therapies and proposed de-SPAC acquisition target of Voyager Acquisition Corp. (NASDAQ:VACH, “Voyager”), announced today it will be attending the upcoming ASCO Annual Meeting and BIO International Convention.

    At the conferences, Christoph Antz, CEO, and additional members of the VERAXA leadership team will be meeting with potential partners and investors, showcasing the Company’s novel Bi-targeted Tumor-Associated Cytotoxicity (BiTAC) platform, and sharing the Company’s growth plans as it prepares to list on the NASDAQ later this year. VERAXA is leveraging its proprietary BiTAC platform to develop highly specific dual-target oncology therapies with less off-tumor toxicity and enhanced tumor specificity. The Company is currently pursuing nine discovery and development programs comprised of next-generation bispecific antibody-drug conjugates (ADCs) and T-cell engagers (TCEs). Those wishing to schedule a meeting to learn more about VERAXA’s differentiated technology and approach are encouraged to contact Cristoph Antz at antz@veraxa.com.

    VERAXA will be accompanied by members of Voyager Acquisition Corp. as well as representatives from Cantor Fitzgerald, Voyager’s capital markets advisor. Cantor Fitzgerald, a leading global financial services group, will be providing certain capital markets advisory services to Voyager related to its proposed Business Combination with VERAXA.

    ASCO Annual Meeting
    DATE: May 30 – June 3, 2025
    VENUE: McCormick Place, Chicago, IL, USA
    TEAM: Connect with Christoph Antz (CEO); Heinz Schwer (CBO); Rick Austin (CSO); Christoph Erkel (Vice President Research & Development)
    EMAIL: Those interested in scheduling a meeting are invited to contact Christoph Antz (CEO) at antz@veraxa.com.
     
    BIO International Convention
    DATE: June 16 – 19, 2025
    VENUE: Boston Convention & Exhibition Center, Boston, MA, USA
    TEAM: Connect with Christoph Antz (CEO); and Katharina Billian-Frey (Manager Business Development)
    EMAIL: Those interested in scheduling a meeting are invited to contact Christoph Antz (CEO) at antz@veraxa.com.
     

    About VERAXA Biotech

    At VERAXA, we are building a premier engine for the discovery and development of next-generation antibody-based therapeutics, including bispecific ADCs, bispecific T cell engagers and other innovative formats. Powered by a suite of transformative technologies and guided by rigorous quality-by-design principles, we are rapidly advancing our pipeline of ADCs and proprietary BiTAC™ formats into clinical development and beyond. VERAXA was founded on scientific breakthroughs made at the European Molecular Biology Laboratory, a world-renowned institution known for pioneering life science research and cutting-edge technologies. For more information, please visit www.veraxa.com.

    On April 22, 2025, VERAXA entered into a definitive business combination agreement (the “Business Combination Agreement”) with Voyager Acquisition Corp., a Cayman Islands exempted company and special purpose acquisition company targeting the healthcare sector (NASDAQ: VACH, “Voyager”). Upon closing of the Business Combination Agreement, VERAXA is expected to become a publicly traded company listed on NASDAQ. The Company has retained Anne Martina Group as the M&A advisor on the transaction.

    About Voyager Acquisition Corp.

    Voyager is a special purpose acquisition company with a bold mission: to revolutionize the healthcare sector through a merger, stock purchase, or business combination. Our team of experienced executives includes unparalleled expertise in investing, operations, and medical innovation, supported by a vast network of connections. With these strengths, we not only seek to drive success but commit to scaling companies to unprecedented heights in the healthcare industry. For more information, please visit https://www.voyageracq.com.

    Participants In the Solicitation

    Voyager, VERAXA, and their respective directors, executive officers, other members of management and employees may be deemed participants in the solicitation of proxies from Voyager’s stockholders with respect to the Business Combination. Investors and security holders may obtain more detailed information regarding the names and interests in the Business Combination of Voyager’s directors and officers in Voyager’s filings with the SEC, including, when filed with the SEC, the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus, amendments and supplements thereto, and other documents filed with the SEC. Such information with respect to VERAXA’s directors and executive officers will also be included in the proxy statement/prospectus. You may obtain free copies of these documents as described below under the heading “Additional Information and Where to Find It”.

    Non-Solicitation

    This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Voyager or VERAXA, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.

    Forward-Looking Statements

    This press release includes certain statements that may be considered forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include, without limitation, statements about future events or Voyager’s or VERAXA’s future financial or operating performance. For example, statements regarding VERAXA’s anticipated growth and the anticipated growth and other metrics, statements regarding the benefits of the Business Combination, and the anticipated timing of the completion of the Business Combination are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential” or “continue,” or the negatives of these terms or variations of them or similar terminology.

    These forward-looking statements regarding future events and the future results of Voyager and VERAXA are based on current expectations, estimates, forecasts, and projections about the industry in which VERAXA operates, as well as the beliefs and assumptions of Voyager’s management and VERAXA’s management. These forward-looking statements are only predictions and are subject to, without limitation, (i) known and unknown risks, including the risks and uncertainties indicated from time to time in the final prospectus of Voyager relating to its initial public offering filed with the SEC, including those under “Risk Factors” therein, and other documents filed or to be filed with the SEC by Voyager; (ii) uncertainties; (iii) assumptions; and (iv) other factors beyond Voyager’s or VERAXA’s control that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. They are neither statements of historical fact nor promises or guarantees of future performance. Therefore, VERAXA’s actual results may differ materially and adversely from those expressed or implied in any forward-looking statements and Voyager and VERAXA therefore caution against relying on any of these forward-looking statements.

    These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Voyager and its management, VERAXA and its management, as the case may be, are inherently uncertain and are inherently subject to risks, variability and contingencies, many of which are beyond Voyager’s or VERAXA’s control. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (i) the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement and any subsequent definitive agreements with respect to the Business Combination; (ii) the outcome of any legal proceedings that may be instituted against Voyager, VERAXA, or others following the announcement of the Business Combination and any definitive agreements with respect thereto; (iii) the inability to complete the Business Combination due to the failure to obtain consents and approvals of the shareholders of Voyager, to obtain financing to complete the Business Combination or to satisfy other conditions to closing, or delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals required to complete the transactions contemplated by the Business Combination Agreement; (iv) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the Business Combination; (v) projections, estimates and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, and the estimated implied enterprise value of VERAXA; (vi) VERAXA’s ability to scale and grow its business, and the advantages and expected growth of VERAXA; (vii) VERAXA’s ability to source and retain talent, the cash position of VERAXA following closing of the Business Combination; (viii) the ability to meet stock exchange listing standards in connection with, and following, the consummation of the Business Combination; (ix) the risk that the Business Combination disrupts current plans and operations of VERAXA as a result of the announcement and consummation of the Business Combination; (x) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of VERAXA to grow and manage growth profitably, maintain key relationships and retain its management and key employees; (xi) costs related to the Business Combination; (xii) changes in applicable laws, regulations, political and economic developments; (xiii) the possibility that VERAXA may be adversely affected by other economic, business and/or competitive factors; (xiv) VERAXA’s estimates of expenses and profitability; (xv) the failure to realize estimated shareholder redemptions, purchase price and other adjustments; and (xvi) other risks and uncertainties set forth in the filings by Voyager with the SEC. There may be additional risks that neither Voyager nor VERAXA presently know or that Voyager and VERAXA currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Any forward-looking statements made by or on behalf of Voyager or VERAXA speak only as of the date they are made. None of Voyager or VERAXA undertakes any obligation to update any forward-looking statements to reflect any changes in their respective expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.

    Additional Information and Where to Find It

    In connection with the Business Combination Agreement, Voyager and/or VERAXA intend to file relevant materials with the SEC, including the Registration Statement, which will include a proxy statement/prospectus of Voyager, and will file other documents regarding the proposed transaction with the SEC. This communication is not intended to be, and is not, a substitute for the proxy statement/prospectus or any other document that Voyager has filed or may file with the SEC in connection with the proposed transaction. When available, the definitive proxy statement and other relevant materials for the proposed transaction will be mailed or made available to stockholders of Voyager as of a record date to be established for voting on the proposed transaction.

    Before making any voting or investment decision, investors and stockholders of Voyager are urged to carefully read, when they become available, the entire registration statement, the proxy statement/prospectus, and any other relevant documents filed with the SEC, as well as any amendments or supplements to these documents, and the documents incorporated by reference therein, because they will contain important information about Voyager, VERAXA, and the proposed transaction. Voyager’s investors and stockholders and other interested persons will also be able to obtain copies of the registration statement, the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus, other documents filed with the SEC that will be incorporated by reference therein, and all other relevant documents filed with the SEC by Voyager in connection with the Transaction, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to Voyager at the address set forth below.

    Contact

    BiTAC is a trademark of VERAXA Biotech AG.

    The MIL Network –

  • MIL-OSI Russia: IMF Reaches Staff-Level Agreement on the Second Review of the Extended Credit Facility with Togo

    Source: IMF – News in Russian

    May 29, 2025

    Press releases include statements of IMF staff teams that convey preliminary findings after meetings with the authorities of a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary conclusions of the meetings, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.

    • IMF Staff and the Togolese authorities have reached staff-level agreement on economic policies and reforms to conclude the second review of the Extended Credit Facility (ECF)-supported program. Once the review is completed by the IMF Executive Board, Togo will have access to SDR 44.0 million (about US$58.4 million) in financing.
    • The IMF-supported program is broadly on track, with robust growth and moderating inflation. All quantitative targets and all structural benchmarks at end-December 2024 met, except for the quantitative performance criterion on the fiscal balance.
    • The authorities have reaffirmed their commitment to implementing sound policies, including by raising fiscal revenue, containing debt accumulation, and making growth more inclusive, as well as enacting structural reforms to enhance public financial management, strengthen the financial sector, and enhance governance.

    Washington, DC: An International Monetary Fund (IMF) staff team, led by Hans Weisfeld held meetings with the Togolese authorities in Lomé and Washington in recent months to discuss progress under the authorities’ economic program supported by an IMF Extended Credit Facility (ECF) arrangement.

    At the conclusion of the discussions, Mr. Weisfeld issued the following statement:

    “The mission has had constructive and productive discussions with the Togolese authorities and commended them on the sustained progress in advancing reforms. A staff-level agreement was reached on all policies, including key parameters of the 2025 fiscal framework and reform measures going forward, in line with the program‘s objectives.

    “Economic growth reached an estimated 5.3 percent in 2024 and is projected at 5.2 percent in 2025 and around 5.5 percent per year thereafter, barring major adverse shocks. Inflation has continued to slow, reaching 2.6 percent in April 2025 (annual average). 

    “The IMF-supported government economic policy program is broadly on track. The authorities met all quantitative performance criteria for end-2024 except the criterion on the fiscal balance. Tax revenue in 2024 increased as planned, while non-tax revenue even exceeded expectations. At the same time, financing support provided to local communities affected by floods and the purchase of a large stock of fertilizers that are being made available to farmers at subsidized prices meant that government debt rose more quickly than planned, slowing progress toward stronger debt sustainability. To help the public understand budget execution and the drivers of debt, the authorities have published an explanation of fiscal developments in 2024. This is a very welcome step.

    “At the same time, the authorities made good progress on structural reforms. They met both outstanding structural benchmarks set for end-2024 by (i) strengthening the budgetary risk analysis report accompanying the draft annual budgets; and (ii) injecting substantial funds into the remaining public bank to bring its regulatory capital in line with the requirements set by the regional banking regulator. The authorities also aim to continue to enhance governance. They (i) are working on strengthening the public procurement legal framework to require the publication of the names of beneficial owners of companies awarded procurement contracts; and (ii) have invited an IMF Governance Diagnostic Assessment and committed to publishing its findings.

    “It will be very important to make good progress on the planned growth-friendly and socially responsible fiscal consolidation to reinforce debt sustainability while continuing reforms to enhance public financial management, strengthen the financial sector, and enhance governance.

    “The IMF approved the ECF arrangement in March 2024 to help the authorities address the legacies of shocks seen since 2020, notably the COVID pandemic and the increase in global food and fuel prices. The Togolese authorities were able to lessen the impacts of these shocks on the Togolese economy and population, but this came at the price of large fiscal deficits and a rapidly rising debt burden. The IMF-supported government program aims to (i) make growth more inclusive while strengthening debt sustainability, and (ii) conduct structural reforms to support growth and limit fiscal and financial sector risks. The IMF provides financing of SDR 293.60 million (about US$ 390 million) on favorable terms to Togo through the ECF arrangement. The IMF Executive Board completed the First Review of the program in December 2024.   

    The staff team looks forward to continuing the fruitful dialogue with the Togolese authorities and stakeholders in the period ahead, including in the context of the mission for the Third Review in the second half of 2025.”

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Kwabena Akuamoah-Boateng

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/05/29/pr-25166-togo-imf-reaches-agreement-on-the-2nd-rev-of-ecf-with-togo

    MIL OSI

    MIL OSI Russia News –