NewzIntel.com

Category: Business

  • MIL-OSI China: Yili’s new product enters Hong Kong to accelerate global expansion

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

    Chinese dairy giant Yili on Tuesday held a global product launch in Hong Kong, officially introducing its infant formula brand Pro-Kido to the local market.

    At the launch event, Yili’s Global Maternal and Infant Nutrition Research Center unveiled several advanced breast milk research findings and announced a strategic partnership with Hong Kong health retail chain Mannings.

    Currently, Yili has accumulated data on over 10 million breast milk components and secured more than 290 invention patents.

    Zhang Yipeng, vice president of Yili Group, said that the company aims to use Hong Kong as a gateway to seize opportunities with global partners and continue providing high-quality, nutritious, healthy and delicious products to consumers worldwide.

    Margaret Lau, head of Baby Care, Confectionery and GMS at Mannings HK, said this collaboration reflected the shared brand vision and market positioning, adding that Mannings looks forward to deepening its strategic partnership with Yili to bring more high-quality health solutions to Hong Kong families.

    Yili has established 15 innovation centers worldwide. It has built a high-standard supply chain covering dairy sources, raw materials, equipment, and quality control, forming deep partnerships with over 2,000 suppliers from 39 countries and regions. 

    MIL OSI China News –

  • MIL-OSI China: Apple’s Worldwide Developers Conference to kick off June 9

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

    Apple on Tuesday announced the lineup for its upcoming Worldwide Developers Conference (WWDC25), including the Keynote and Platforms State of the Union sessions.

    Set to take place online from June 9 to 13, the free conference will bring together the global Apple developer community to explore the latest tools, technologies, and features across Apple’s platforms, the company said.

    Throughout the week, developers worldwide will have the opportunity to connect with Apple engineers, designers, and evangelists, and stream more than 100 sessions focused on helping them build innovative, platform-differentiated apps and games for Apple’s ecosystem. On June 9, Apple will also host a special in-person event at Apple Park, welcoming over 1,000 developers and students.

    The Keynote address will be available to stream on apple.com, the Apple TV app, and the Apple YouTube channel. Following the Keynote, the Platforms State of the Union will offer a deeper dive into the new technologies and tools available to developers — spanning iOS, iPadOS, macOS, tvOS, visionOS, and watchOS, Apple said.

    Members of the Apple Developer Program and Apple Developer Enterprise Program will also be able to engage directly with Apple experts through online group labs and one-on-one appointments. These interactions will cover a broad range of topics, including Apple Intelligence, app design, developer tools, graphics and gaming, machine learning, Swift, and more.

    In addition, 50 winners of this year’s Swift Student Challenge — one of Apple’s programs designed to inspire and support the next generation of entrepreneurs, developers, and designers — will be recognized for their outstanding submissions and invited to a special three-day experience at Apple Park, the company announced. 

    MIL OSI China News –

  • MIL-OSI China: MNCs foresee tailwinds for vibrancy

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

    The momentum generated by government policies aimed at stabilizing foreign investment, combined with the rapid growth of green and artificial intelligence-driven economies, will deliver strong tailwinds for foreign companies in China this year, said foreign business executives.

    With rising global economic headwinds and uncertainty over United States’ trade policies, many global enterprises are opting to consolidate their presence in China, with plans to maintain or expand investment.

    China’s stable and business-friendly environment supported a modest rebound in foreign direct investment in March, with actual FDI inflows into the Chinese mainland increasing by 13.2 percent year-on-year, data from the Ministry of Commerce showed.

    Marelli Holdings Co Ltd, a Saitama, Japan-headquartered multinational automotive parts manufacturer with more than 50 manufacturing facilities across the world, will expand its engineering team from 800 to 1,000 in China over the next three years.

    “Many opportunities arise from Chinese automakers’ rapid shift toward electrification and intelligence, especially in the form of software-defined vehicles, which are setting new benchmarks for speed, scale and innovation,” said David Slump, the group’s president and CEO.

    With China and the US agreeing to de-escalate trade tensions last week, Slump said that these two countries are major markets for Marelli.

    “We are closely monitoring and assessing the situation, and are committed to minimizing any impact on our operations and customers,” said Slump. He added that the company is already exporting advanced products and solutions from China to other markets, including Europe, Mexico and Southeast Asia.

    Also upbeat about the Chinese market, British pharmaceutical company AstraZeneca announced in March an investment of $2.5 billion to establish in Beijing its sixth global strategic R&D center, and further expand its biotech innovation partnerships and local manufacturing capabilities.

    The new facility will advance early-stage research and clinical development and will be enabled by a new AI and data science laboratory.

    Susan Galbraith, executive vice-president, oncology R&D, Astra-Zeneca, said that having two of its six global strategic R&D centers in China reflects the group’s confidence in China’s world-class biomedical innovation ecosystem and reinforces the nation’s critical role in its global R&D strategy.

    Ji Wenhua, a professor at the Academy of China Open Economy Studies, which is part of the University of International Business and Economics in Beijing, said that China’s well-developed industrial bases, strong supply chain resilience and policy emphasis on innovation continue to make it an attractive destination for global capital.

    According to China’s 2025 Action Plan for Stabilizing Foreign Investment, the country will support pilot regions in effectively implementing opening-up policies related to areas such as value-added telecommunication, biotechnology and wholly foreign-owned hospitals, providing whole-journey services for foreign-invested projects in these sectors.

    The action plan also supports foreign businesses to participate in China’s new industrialization, with a focus on high-tech fields. Global capital has been welcomed in service sectors such as elderly care, culture and tourism, sports, healthcare, vocational education and finance.

    As part of its strategy to strengthen operations in China, US express transportation service provider FedEx Corp announced in mid-May that it would enhance its international export services from Shanghai.

    The cutoff times for same-day outbound shipments from Shanghai to Europe, Asia-Pacific and the Middle East, India and Africa will be further extended.

    The foreign trade value of foreign-invested businesses reached 4.1 trillion yuan ($567.51 billion) in China between January and April, up 1.9 percent year-on-year, accounting for 29 percent of China’s total foreign trade value, statistics from the General Administration of Customs showed.

    In the meantime, Jiangsu province, a major hub for foreign-invested companies, recorded 864.25 billion yuan in foreign trade value, up 7.2 percent year-on-year, according to Nanjing Customs.

    MIL OSI China News –

  • MIL-OSI USA: News 05/20/2025 Blackburn Introduces Bill to Stop Multi-Million Dollar Birth Tourism Industry

    US Senate News:

    Source: United States Senator Marsha Blackburn (R-Tenn)

    WASHINGTON, D.C. – Today, U.S. Senator Marsha Blackburn (R-Tenn.) introduced the Ban Birth Tourism Act to eliminate loopholes that foreign nationals exploit to become U.S. citizens. This follows President Trump’s swift action to protect the meaning and value of American citizenship.

    “Foreign nationals have been exploiting our nation’s immigration laws for far too long, taking advantage of the system to come to the United States for the sole purpose of giving birth to obtain U.S. citizenship for their children,” said Senator Blackburn. “The Ban Birth Tourism Act would prevent foreign nationals, including those from adversaries like Communist China and Russia, from buying American citizenship for their children. As President Trump works to end birthright citizenship, we need to get this bill to his desk.”

    BACKGROUND

    • Birth tourism is a booming multi-million-dollar industry, and companies have capitalized on the allure of U.S. citizenship and cater to the trip-planning needs of pregnant foreigners.
    • These businesses commonly cater to wealthy Russian and Chinese nationals and charge foreign clients thousands of dollars for advice on how to lie to immigration officers.
    • It is estimated birth tourism results in at least 33,000 births to women on tourist visas annually.
    • Those births result in instant citizenship for the infant, who can go on to sponsor the migration of their parents to the United States 21 years later.

    THE BAN BIRTH TOURISM ACT

    • The Ban Birth Tourism Act would amend the Immigration and Nationality Act and ban birth tourism as a permissible basis for obtaining a temporary visitor visa. 

    Click here for bill text.

    RELATED

    MIL OSI USA News –

  • MIL-OSI USA: Idaho Delegation Urges Administration to Move Small Business Regional Office to Idaho

    US Senate News:

    Source: United States Senator for Idaho James E Risch
    WASHINGTON – U.S. Senators Jim Risch and Mike Crapo and Representatives Mike Simpson and Russ Fulcher today sent a letter to Small Business Administrator Kelly Loeffler urging the Small Business Administration (SBA) to move the Seattle regional office from Washington to Idaho.
    “[. . .] unlike other states served by the Seattle Office, Idaho has demonstrated a strong commitment to putting American citizens first. Our state has enacted a statewide ban on sanctuary cities, and the Idaho Congressional Delegation has repeatedly worked to prevent illegal immigrants and sanctuary cities from abusing federal funding,” wrote the lawmakers. “By relocating the regional office to Idaho, the SBA would ensure its services align with President Trump’s priorities, directly benefitting law-abiding business owners.”
    In March, Administrator Loeffler announced her intention to relocate six regional offices from cities that have refused to comply with U.S. Immigration and Customs Enforcement. The SBA Region 10 Office in Seattle oversees Idaho, Washington, Alaska, and Oregon.
    Read the full letter here.

    MIL OSI USA News –

  • MIL-OSI Australia: Closing your business

    Source: New places to play in Gungahlin

    Closing an entity in your private group

    You may decide to close an entity in your private group or your entire business.

    The disposal of assets, liquidation or vesting of entities may have tax consequences.

    Effective tax governance when closing a business will help mitigate risk and provide practical certainty for stakeholders.

    For more information, see Changing, selling or closing your business.

    Companies

    When a company is wound up, liquidated or deregistered, you should retain documentation for tax governance purposes. This may include:

    • contracts for sale of assets
    • documentation to evidence the forgiveness of loans
    • minutes of meetings.

    In some cases, you may be legally required to retain this information.

    Example: winding up a company

    Spin Records has been a profitable company for many years. However, due to a change in consumer demand and the economy, its company directors believe it is no longer viable to continue to carry on the business.

    The directors decide to liquidate and deregister Spin Records before it becomes unprofitable, rather than dispose of the business. They agree to engage a liquidator to start winding up the company in 3 months. This allows it to fulfil its final contracts with customers.

    Before commencing liquidation, a dividend is declared and paid to the shareholders. The assets of the company are then sold. The proceeds and cash reserves are used to pay creditors. Loans provided to shareholders are forgiven. A final dividend is declared by the liquidator and paid to shareholders before the company is deregistered with ASIC.

    Spin Records needs to retain the following documentation for tax purposes:

    • minutes of meetings documenting key decisions relating to the winding up, liquidation and deregistration
    • minutes of directors’ meetings relating to the dividends declared and paid
    • minutes of meetings conducted by the liquidator
    • analysis of the tax consequences of the sale of assets and the forgiveness of loans to related parties
    • the final tax return and details of payment of tax liabilities.

    The company’s shareholders also need to keep documentation to substantiate the cost base of shares in the company for capital gains tax purposes.

    End of example

    For more information, see:

    Trust vesting

    Where a trustee is intending to vest a trust, they should carefully examine the trust deed to ensure adherence to its terms.

    The trustee should:

    Partnerships

    Where a partnership ends, a final partnership distribution will be necessary.

    Each partner will need to retain documentation to substantiate the cost base of their respective interest in the partnership for capital gains tax purposes.

    MIL OSI News –

  • MIL-OSI Australia: Disposing of your business

    Source: New places to play in Gungahlin

    Selling a business

    The sale of a business generally occurs through the disposal of either:

    • the shares or other ownership interests in the entity that conducts the business
    • all of the tangible and intangible assets in the business.

    When preparing to dispose of your business, we encourage you to consider your tax governance for the transaction and the tax consequences.

    For more information, see:

    Record keeping

    Both the vendor and purchaser need to retain documentation evidencing the transactions, including:

    • contracts
    • minutes of meetings recording why the business was to be sold and decisions relating to the transaction by the directors and other key decision makers
    • communications between the vendor and purchaser relating to the negotiations, including any allowance for liabilities
    • details of the assets disposed of under the contract, the apportionment of the purchase price to the various assets and the basis for the apportionment
    • capital gains tax (CGT) calculations, including the
      • allocation of purchase price to depreciating assets
      • basis for this allocation
      • treatment of consideration held in escrow
    • any advice detailing why the particular tax position has been taken
    • settlement documentation
    • asset registers
    • trust resolutions creating income or capital entitlements of beneficiaries.

    Revenue or capital transaction

    Where you dispose of an asset, you need to determine whether it should be treated as a revenue or capital transaction.

    You can find relevant information and views in documentation, such as minutes of meetings, business plans, documented discussions with stakeholders and consultants and financial statements.

    Disposing of a business to a related party

    Where you dispose of the business to a related party, you should get an independent valuation of the business, including the goodwill, assets and contractual rights being disposed of.

    Interest expense

    There may be an impact on the interest expense that can be deducted if the disposal of an ownership interest in a business results in a change to the entity’s debt to equity ratio. You may need to recalculate this at the relevant time.

    Disposing of part of a business

    You may partially dispose of your business by:

    • creating a new class of shareholders or unit holders, or by amending rights for existing share classes
    • disposing of a portion of shares
    • retiring from a partnership
    • admitting a new partner into your partnership.

    As a result of the above changes, you may need to amend key documents such as the company’s constitution, trust deed, or partnership agreement.

    The rights of the existing shareholders or unitholders may also be affected. Where this occurs, the existing shareholders, unitholders and partners should consider any tax consequences, such as capital gains, value shifting and limitations on future deductions or capital losses.

    More complex business disposals

    More complex or non-traditional business disposals often give rise to a range of tax issues and require risk mitigation. Good tax governance will ensure that you identify, assess and manage these issues.

    You should carefully consider and document transactions and the commercial business drivers.

    Some of the more complex business disposals that may require additional tax governance include:

    We encourage you to seek advice from a tax adviser if you are unsure of the tax consequences.

    You may also wish to engage with us for advice directly before entering the transaction. We can help reduce uncertainty by clarifying how the tax law relates to your particular circumstances.

    Earn-out arrangements

    The disposal of a business that includes an earn-out arrangement can take several forms. Good governance practices include:

    • retaining the sale contract and other relevant agreements
    • considering changes in the law examining the terms of the earn-out arrangement and identifying the contingent and non-contingent rights
    • considering if there is a reverse earn-out arrangement
    • estimating the value of the earn-out right and retaining documentation to support the estimate
    • getting tax advice and preparing the capital gains tax calculations for the income year in which the disposal occurred
    • comparing the amounts actually received under the earn-out clauses to the amount estimated.

    Scrip-for-scrip rollovers

    When you have a CGT event that results in a capital gain, a rollover may be applied, for example, a scrip-for-scrip rollover. Generally, this occurs where a seller exchanges a share in a company (or trust interest in a trust) for a share in another company (or trust interest in another trust).

    Effective governance involves retaining key documentation to provide you with certainty. It should be readily accessible if we review the transaction.

    Key documentation to retain may include:

    • minutes of meetings or other documentation recording proposals, deliberations and negotiations prior to entering into the transaction
    • minutes of decisions to proceed with the transaction and executed contract documents
    • evidence of the interests exchanged (such as share certificates or unit registers)
    • details of the CGT profile of interests, such as cost base and any pre-CGT status
    • valuations
    • other workings, papers or advice setting out the conditions and how they have been satisfied.

    Listing on a stock exchange

    Where a business owner is looking to dispose of the shares in a business via listing on a stock exchange through an initial public offering (IPO), back-door listing or reverse take-over, good tax governance practices may include:

    • considering the Australian Securities Exchange (ASX) and Australian Securities and Investments Commission requirements and their tax consequences
    • getting advice on the CGT treatment of any disposal of shares held by the existing shareholders
    • documenting the transactions and tax impacts, including considering whether the CGT discount and a full or partial CGT rollover apply
    • considering how any additional amounts to which the existing shareholders are entitled after the event (such as additional shares or earn-out amounts) will be treated for tax purposes.

    A back-door listing generally involves the disposal of an entity’s shares or assets to a company that is currently listed on the ASX. Interests sold between related parties through back-door listings should be subject to independent market valuations.

    Exit from a consolidated group

    Where a consolidated group disposes of a partial or the full interest in a subsidiary member, resulting in it leaving the group, effective governance practices include:

    • retaining the sale contract and agreements
    • preparing a statement of financial position in accordance with accounting standards as at the date of exit
    • ensuring that the assets and liabilities appearing on the statement of financial position reflect market values
    • undertaking allocable cost amount exit calculations
    • calculating the capital gain or loss resulting from the disposal of the interest in the subsidiary member
    • getting a valuation to determine the subsidiary’s market value where the purchaser is a related party
    • notifying us of any changes to membership.

    For more information, see Consolidation.

    MIL OSI News –

  • MIL-OSI USA: ICE, law enforcement partners, arrest 13 Armenian rival members, associates of organized crime syndicates for alleged attempted murder, kidnapping and tens of millions in theft

    Source: US Immigration and Customs Enforcement

    LOS ANGELES – U.S. Immigration and Customs Enforcement and law enforcement partners in California and Florida, arrested 13 alleged members and associates of Armenian organized crime syndicates May 20. Those arrested are charged in five federal complaints with a series of crimes, including attempted murder, kidnapping, illegal firearm possession and thefts estimated to be in millions of dollars related to online retailer shipments.

    “This transnational criminal organization operated with the structure and brutality of an international cartel, inflicting significant harm on public safety and causing substantial damage to legitimate commerce and supply chains,” said ICE Homeland Security Investigations Los Angeles acting Deputy Special Agent in Charge Dwayne Angebrandt.

    Among the defendants charged are Ara Artuni, 41, of Porter Ranch, California who is charged with attempted murder in aid of racketeering, and a rival, Robert Amiryan, 46, of Hollywood, California who is charged with kidnapping.

    The defendants arrested in California are expected to make their initial appearances this afternoon and tomorrow afternoon in United States District Court in downtown Los Angeles.

    Vahan Harutyunyan, 50, of Hollywood, Florida, made his initial appearance earlier today in Fort Lauderdale, Florida and was ordered detained. Two of the remaining defendants, Levon Arakelyan, 45, of Las Vegas, Nevada and Ivan Bojorquez, 33, of Gardena, California are presently detained in state custody on unrelated matters.

    Law enforcement seized approximately $100,000 in cash, three armored vehicles, and 14 firearms during the operation.

    According to affidavits filed with the criminal complaints, Armenian Organized Crime, a Russian mafia-affiliated transnational criminal organization, has made Los Angeles County a center of U.S. operations. Since 2022, two local leaders within the organization, also known as avtoritet, which in Russian means “authority,” allegedly have engaged in a power struggle for control in their territory, resulting in multiple murder attempts and a kidnapping.

    Artuni, an avtoritet, is charged with ordering the attempted murder of Amiryan during the summer of 2023. In retaliation, Amiryan, also an avtoritet, allegedly conspired with members of his own criminal organization to kidnap and torture one of Artuni’s associates in June 2023.

    In addition to attempted murder, Artuni and his criminal enterprise has, since at least 2021, allegedly committed additional crimes, including bank fraud, wire fraud, and “cargo theft” targeting online retailers such as Amazon.com Inc. Artuni Enterprise members and associates enrolled with Amazon as carriers, contracted for trucking routes, and then, while transporting the goods, diverged from the route and stole all or part of the shipment. To date, the Artuni Enterprise has allegedly stolen goods from Amazon worth more than $83 million, according to estimates provided by Amazon.

    The Artuni Enterprise also ran a “credit card bust-out” scheme in which they charged various credit cards to a sham business, then drained the business account before the credit card companies could collect the to-be disputed funds.

    “Today’s arrests reflect that my office and our law enforcement partners are committed to keeping America safe by dismantling transnational criminal organizations,” said United States Attorney Bill Essayli. “Let today’s enforcement action be a warning to criminals: Our communities are not your playground to engage in violence and thuggery.”

    “Investigators from the Burbank Police Department spent hundreds of hours investigating these heinous violent crimes,” said Burbank Police Chief Rafael Quintero. “The Burbank Police Department is grateful for the assistance from its law enforcement partners and the United States Attorney’s Office for their work in holding these individuals accountable for their actions.”

    “Dismantling transnational criminal organizations is at the core of HSI’s mission,” continued Angebrandt. “Through close collaboration with our law enforcement partners, HSI is holding these perpetrators accountable and disrupting their criminal enterprise at every level.”

    A complaint contains allegations that a defendant has committed a crime. Every defendant is presumed to be innocent until and unless proven guilty beyond a reasonable doubt in court.

    If convicted of all charges, the defendants will face statutory maximum sentences ranging from 10 years in federal prison to life imprisonment.

    Homeland Security Investigations; The Los Angeles Police Department Major Crimes Division – Transnational Organized Crime Section; the Burbank Police Department; Northridge and Ventura offices; the United States Department of Health and Human Services Office of Inspector General; IRS Criminal Investigation; and the Bureau of Alcohol, Tobacco, Firearms and Explosives are investigating this matter.

    Assistant United States Attorneys Lyndsi Allsop and Kenneth R. Carbajal of the Violent and Organized Crime Section and Tara B. Vavere of the Asset Forfeiture and Recovery Section are prosecuting this case. The Department of Justice Criminal Division’s Violent Crime and Racketeering Section provided substantial assistance.

    Individuals across the world can report suspicious criminal activity to the ICE Tip Line 24 hours a day, seven days a week at 866-DHS-2-ICE. Highly trained specialists take reports from both the public and law enforcement agencies on more than 400 laws enforced by ICE.

    MIL OSI USA News –

  • MIL-OSI USA: Unicoin, Top Executives Charged in Offering Fraud That Raised More than $100 Million from Thousands of Investors

    Source: Securities and Exchange Commission

    The Securities and Exchange Commission today charged New York City-based Unicoin, Inc. and three of its top executives—CEO and Board Chairman Alex Konanykhin; Silvina Moschini, former president, former board chairwoman, and current board member; and former Chief Investment Officer Alex Dominguez—for false and misleading statements in an offering of certificates that purportedly conveyed rights to receive crypto assets called Unicoin tokens and an offering of Unicoin, Inc.’s common stock.

    “We allege that Unicoin and its executives exploited thousands of investors with fictitious promises that its tokens, when issued, would be backed by real-world assets including an international portfolio of valuable real estate holdings,” said Mark Cave, Associate Director in the SEC’s Division of Enforcement. “But as we allege, the real estate assets were worth a mere fraction of what the company claimed, and the majority of the company’s sales of rights certificates were illusory. Unicoin’s most senior executives are alleged to have perpetuated the fraud, and today’s action seeks accountability for their conduct.”

    The SEC alleges that Unicoin broadly marketed rights certificates to the public through extensive promotional efforts, including advertisements in major airports, on thousands of New York City taxis, and on television and social media. Among other things, Unicoin and its executives are alleged to have convinced more than 5,000 investors to purchase rights certificates through false and misleading statements that portrayed them as investments in safe, stable, and profitable “next generation” crypto assets, including claims that:

    • Unicoin tokens underlying the rights certificates were “asset-backed” by billions of dollars of real estate and equity interests in pre-IPO companies, when Unicoin’s assets were never worth more than a small fraction of that amount;
    • the company had sold more than $3 billion in rights certificates, when it raised no more than $110 million; and
    • the rights certificates and Unicoin tokens were “SEC-registered” or “U.S. registered” when they were not.

    According to the SEC’s complaint, Unicoin and Konanykhin also violated the federal securities laws by engaging in unregistered offers and sales of rights certificates. Konanykhin offered and sold over 37.9 million of his rights certificates to offer better pricing and target investors the company had prohibited from participating in the offering to avoid jeopardizing its exemption to registration requirements, as alleged.

    The SEC’s complaint, filed in the U.S. District Court for the Southern District of New York, charges Unicoin, Konanykhin, Moschini, and Dominguez with violations of the antifraud provisions of the federal securities laws, Konanykhin and Unicoin with violating the registration provisions of the Securities Act of 1933, and Konanykhin as a control person for certain of Unicoin’s antifraud violations. The complaint seeks permanent injunctive relief, disgorgement of ill-gotten gains with prejudgment interest, and civil penalties against Unicoin, Konanykhin, Moschini, and Dominguez, as well as officer-and-director bars against Konanykhin, Moschini, and Dominguez.

    The complaint also charges Unicoin’s general counsel, Richard Devlin, with violating the antifraud provisions of the federal securities laws by negligently making similar misstatements in private placement memoranda Unicoin used to offer and sell rights certificates and Unicoin common stock. Without admitting or denying the SEC’s allegations, Devlin has consented to the entry of a final judgment providing permanent injunctive relief and ordering him to pay a $37,500 civil penalty.

    The SEC’s investigation was conducted by Adam B. Gottlieb, Jason Schall, and Joss Berteaud and was supervised by W. Bradley Ney and Mr. Cave. The litigation will be led by Russell Feldman and Mr. Gottlieb and supervised by Jack Kaufman.

    MIL OSI USA News –

  • MIL-OSI USA: Sullivan Joins President Trump for Golden Dome Missile Defense Announcement

    US Senate News:

    Source: United States Senator for Alaska Dan Sullivan
    05.20.25
    WASHINGTON—U.S. Senators Dan Sullivan (R-Alaska), Kevin Cramer (R-N.D.), and Jim Banks (R-Ind.), all members of the Senate Armed Services Committee (SASC), today joined President Donald Trump, Secretary of Defense Pete Hegseth, and Vice Chief of Space Operations General Michael Guetlein at the White House for an announcement about the administration’s plan for a Golden Dome missile defense system for America. Sens. Sullivan and Cramer also announced the imminent introduction of their legislation, the GOLDEN DOME Act, to reinforce President Trump’s vision of a layered, integrated missile defense system to protect the United States from the intensifying threats and growing arsenals of China and Russia. The forthcoming GOLDEN DOME Act will also complement President Trump’s “Iron Dome” executive order, signed on January 27, 2025.
    Sen. Sullivan and President Trump also emphasized the critical role Alaska plays in the nation’s missile defense system.

    Click here or the image above to watch coverage of the full event.
    “When you look at the system that [President Trump] laid out, you have the initial ground-based missile interceptors, which are made by some of the big defense companies,” said Sen. Sullivan. “But the beauty of [the President’s] vision is that it’s layered, it’s open architecture, and it goes up into space. This is going to involve some of the new defense tech companies that are very interested and can bring missile defense at a cost that is lower than we could ever have imagined. Senator Cramer and I just met with a bunch of these companies last week. Our technology sector is head and shoulders above any other country, and they’re going to be a key part of this. I think that’s what makes this announcement so exciting.”
    “Alaska is a big part of [missile defense] because the location is sort of perfect,” said President Trump. “I think that’s your first line of defense in certain instances.”
    Following the White House event, Senators Sullivan and Cramer recorded a brief video recapping the announcement and discussing their GOLDEN DOME Act.

    MIL OSI USA News –

  • MIL-OSI USA: Senator Reverend Warnock Encourages Atlanta Business, Civic Leaders to Continue Putting Service Over Self in Remarks to Rotary Club of Atlanta

    US Senate News:

    Source: United States Senator Reverend Raphael Warnock – Georgia

    Senator Reverend Warnock Encourages Atlanta Business, Civic Leaders to Continue Putting Service Over Self in Remarks to Rotary Club of Atlanta

    Senator Reverend Warnock encouraged over 100 Georgia business and civic leaders to continue living out their motto of “service above self” in this moment of political and economic uncertainty
    The Georgia Rotarians held a luncheon at the Loudermilk Center in Atlanta, Georgia, including leaders and representatives from various non-profit and small business leaders across the Atlanta region
    Established in 1913, the Rotary Club of Atlanta has grown to be one of the most influential business and civic clubs in the world
    ICYMI from Saporta Report: U.S. Sen. Raphael Warnock: ‘Uncertainty is never a friend of business’
    Watch Senator Reverend Warnock’s remarks to the Rotary Club of Atlanta HERE
    Atlanta, GA – In remarks to the Rotary Club of Atlanta yesterday, U.S. Senator Reverend Raphael Warnock (D-GA)encouraged over 100 Georgia business and civic leaders to continue living out their motto of “service above self” in this moment of political and economic uncertainty. 
    “As an alum of Head Start, as an alum of Upward Bound, another federal program called Trio that put a kid in housing projects on a college campus every summer so that I could know that I belonged there, as someone who’s been a beneficiary of Pell grants and low-interest student loans. I’m fighting for that kid on Cape Street, and every variation of that kid in rural communities all across our state. And so in this moral moment, I hope that we will recommit ourselves to standing in the best of the Rotarian spirit of service over self. It’s the reason why I’m deeply concerned about much of what is happening right now. I am worried about our country,” said Senator Reverend Warnock. 
    The Georgia Rotarians held a luncheon at the Loudermilk Center in Atlanta, Georgia, including leaders and representatives from Centers for Disease Control and Prevention (CDC), the Metro Chamber, YMCA of Metro Atlanta, Ideas United, and various non-profit and small business leaders representing industries across the Atlanta region. 
    Above: Senator Reverend Warnock greeting constituents and local business and civic leaders
    After greeting constituents, the Senator was recognized by the Club’s Board Chair John Yates with a personalized poem he authored highlighting Senator Warnock’s commitment to service for all Georgians. The Senator was introduced by Program Chair and CEO of Ideas United David Roemer ahead of his keynote remarks, where the Senator discussed the detrimental effects of policy unpredictability on businesses and his concerns about tariffs impacts on Georgia small businesses and consumers. Senator Warnock encouraged business leaders to advocate for common-sense leadership and to be unafraid in using their voices to call out the danger and damage Washington politicians pose to Georgia workers and families. 
    “Like many of you, I’m very concerned about these tariffs. I haven’t met anybody yet who’s excited about it. I talked to business leaders. They are worried. I was down in my hometown of Savannah, Georgia a couple of weeks ago meeting with leaders at the port. […] And while there I was talking to leaders and farmers and small businesses, and they feel the uncertainty. One gentleman involved with beekeeping and honey paid more than $25,000 in tariffs on his last import. He’s a small business owner. He doesn’t get to just move something around and be okay for the next quarter. He could lose his business. He does not know what he is going to do. He does not want to pass that cost on to the consumer, but understandably, he does not want to eat those costs himself. We’re hearing stories like that across Metro Atlanta, where business owners and leaders are left scratching their heads because the math ain’t mathing,” said Senator Reverend Warnock. 
    “They cannot plan in this uncertain, unpredictable environment. […] And so this is such an important moment for business leaders to stand up, to raise your voices, to use your influence in the ways that you can. Now, I’m not naive. I know that when you’re running a business, you want to stay as far from politics as you can. I don’t blame you. But there comes a moment when that which is so fundamental to opportunity and possibility is at stake that we have to raise our voices. We have to use our influence in the same way to stand up and fight for tax cuts, stand up and fight for immigration policy that makes good business sense,” Senator Reverend Warnock continued. 
    Above: Senator Reverend Warnock gives remarks to the Rotary Club of Atlanta
    Additionally, Senator Warnock reflected on his new report that uplifts the success of the clean energy tax credits he helped put into law and propelled Georgia to the forefront of our nation’s clean energy economy, but which are now under threat as Washington Republicans seek to scale back these clean energy jobs and investments. 
    “According to my report, in Georgia, nearly all the new [clean energy] investments and the new jobs are in counties outside of Metro Atlanta. Nationwide analyzes show that the vast majority of projects announced following the passage of these clean energy tax credits. Over three and four projects have gone to House districts currently held by Republicans. But this is especially true in Georgia. […] This is good news for Georgia, and to undermine it does not make good sense, it’s hard to defend that. The data is clear, and so my colleagues have a decision to make about who they will fight for and what they believe in. Who will they support? But this I do know: uncertainty is never a friend of business, right? It’s hard to know where they invest. You’re not certain about what’s going to happen along the supply chain, it’s hard to know that you should continue to lean in and invest in a clean energy future in Georgia if the Congress can simply undo two years later what it decided to do two years ago, right at the moment that we’re beginning to make progress,”said Senator Reverend Warnock. 
    Above: Senator Reverend Warnock participates in a fireside chat with Program Chair and Ideas United CEO David Roemer
    Following his remarks, the Senator participated in a fireside chat conversation with David Roemer and fielded questions from members of the Rotary Club of Atlanta. Senator Warnock closed by reiterating his service to all Georgians is rooted in his mission to see America win by making sure every child has a chance, and the next kid growing up in public housing or relying on low-interest loans for an education knows that anything is possible in America. 
    “It’s our job to tell our children that in America anything is possible,” Senator Reverend Warnock said in closing. 

    MIL OSI USA News –

  • MIL-OSI USA: Warren, Reed Press Treasury and DOJ on North Korea’s $1.5 Billion Crypto Heist

    US Senate News:

    Source: United States Senator for Rhode Island Jack Reed
    “In the wake of the Bybit hack, it is essential that the United States redouble its efforts to prevent North Korean crypto theft.”
    WASHINGTON, DC – Today, U.S. Senators Elizabeth Warren (D-MA), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, and Jack Reed (D-RI), a senior member of the committee, sent a letter to Secretary of the Treasury Scott Bessent and Attorney General Pam Bondi requesting information on efforts to combat increasingly aggressive and frequent cyber-attacks by ransomware groups based in North Korea.
    In February, the Lazarus Group, a hacker syndicate backed by the North Korean government, stole approximately $1.5 billion in digital currency from Bybit, a popular cryptocurrency exchange. In the letter, the senators warn the attack marks a dangerous escalation in North Korea’s use of crypto theft to evade sanctions and fund its weapons programs — a direct threat to U.S. national security and global stability.
    “In the wake of this attack—the ‘largest crypto theft of all time’—we write to request information regarding your efforts to combat increasingly aggressive and frequent cyber-attacks by ransomware groups based in North Korea,” wrote the senators.
    They continued: “North Korea relies on cryptocurrency theft to subvert U.S.-led international sanctions and to undermine the security of the United States and our Indo-Pacific allies… These stolen assets have helped keep the regime afloat and supported continued investments in its nuclear and conventional weapons programs. Reports suggest there are potentially thousands of North Korean-affiliated crypto hackers around the globe.”
    The senators press the agencies on how they are responding to the evolving tactics of North Korean hackers and what tools they need to prevent future attacks. This comes as Senate Republicans attempt to advance the GENIUS Act — legislation that, as currently drafted, would dramatically expand the stablecoin market with few guardrails and inadequate national security protections. A vote on the bill could come as early as later today.
    Full text of the letter follows:
    Dear Secretary Bessent and Attorney General Bondi:
    On February 21, 2025, the Lazarus Group, a hacker syndicate backed by the Democratic People’s Republic of Korea (North Korea), stole approximately $1.5 billion in digital currency from Bybit, a popular cryptocurrency exchange. In the wake of this attack—the “largest crypto theft of all time”—we write to request information regarding your efforts to combat increasingly aggressive and frequent cyber-attacks by ransomware groups based in North Korea.
    North Korea relies on cryptocurrency theft to subvert U.S.-led international sanctions and to undermine the security of the United States and our Indo-Pacific allies. The Annual Threat Assessment of the U.S. Intelligence Community for 2025 states that “North Korea is funding its military development—allowing it to pose greater risks to the United States—and economic initiatives by stealing hundreds of millions of dollars per year in cryptocurrency from the United States and other victims.” Between 2017 and 2023, North Korea stole an estimated $3 billion in crypto hacks, laundering tokens through crypto mixers to effectively mask their origins before funneling the proceeds back to Pyongyang. These stolen assets have helped keep the regime afloat and supported continued investments in its nuclear and conventional weapons programs. Reports suggest there are potentially thousands of North Korean-affiliated crypto hackers around the globe.
    In recent years, North Korean hackers have shifted from simplistic crypto theft schemes to more sophisticated tactics. Typically, these attacks center around variations of social engineering schemes, designed to exploit vulnerabilities in tech and crypto companies. Hackers have increasingly found ways to infiltrate crypto firms, often faking credentials, resumes, and documents and disguising themselves as American or foreign nationals eligible for work. According to reports, “[t]hey have pretended to be Canadian IT workers, government officials and freelance Japanese blockchain developers. They will conduct video interviews to get a job, or …masquerade as potential employers.” In addition, hackers have relied on “phishing and supply chain attacks, and…infrastructure hacks which involve private key or seed phrase compromises.”
    The Bybit hack reflects a further escalation in North Korea’s ability to execute complex crypto theft schemes. In the attack, hackers pulled approximately $1.5 billion from a “cold” crypto storage wallet—a “piece of hardware…kept mostly isolated from online networks” that, prior to the attack, were “considered to be almost impervious to attacks.”10 According to experts, the attack suggests that “North Korea has either expanded its money laundering infrastructure or that underground financial networks, particularly in China, have enhanced their capacity to absorb and process illicit funds.”11 The hack is expected to have significant impacts on the crypto industry and leaves companies scrambling to bolster cybersecurity. Specifically, “staving off North Korean thefts will likely require much higher spending by crypto exchanges.”
    In the wake of the Bybit hack, it is essential that the United States redouble its efforts to prevent North Korean crypto theft. To better understand the scope of North Korea’s reliance on the theft of crypto to evade sanctions and finance its weapons programs and the steps the administration is taking to address this urgent national security concern, we ask that you respond to the following questions by June 2, 2025:
    1. Please describe the steps your agency is taking to address threats to U.S. national security posed by North Korea’s theft of cryptocurrency to earn revenue and bypass sanctions.
    2. What additional steps, if any, does your agency plan to take in the wake of the Bybit attack to bolster efforts to prevent North Korean cryptocurrency theft?
    3. What are the biggest challenges your agency faces in combatting North Korean cryptocurrency theft? What steps can Congress take to bolster and support enforcement efforts to prevent future crypto theft?
    Sincerely,

    MIL OSI USA News –

  • MIL-OSI Europe: Swedish initiative to get Ukrainian products in Swedish shops

    Source: Government of Sweden

    A new Swedish initiative to get Ukrainian products in Swedish shops has been presented by representatives of the Swedish Food Retailers Federation, together with Minister for International Development Cooperation and Foreign Trade Benjamin Dousa. The initiative aims to provide Swedish consumers’ increased access to Ukrainian products and opportunities to support Ukraine at the grocery store.

    MIL OSI Europe News –

  • MIL-OSI China: China’s private economy gets new boost as landmark law takes effect

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

    China’s first fundamental law dedicated to promoting the private sector came into effect Tuesday, strengthening legal protections and injecting fresh momentum into a key driver of the world’s second-largest economy.

    The Private Sector Promotion Law, passed in late April, aims to optimize the development environment for the sector, ensure fair market competition, and promote the growth of both the private economy and private entrepreneurs.

    It clearly states that the private sector is “an important part of the socialist market economy,” and promoting its sustained, healthy and high-quality development is a significant and long-term policy.

    This legislation marks a milestone in the development of the sector, which contributes more than 60 percent of China’s GDP.

    “The law demonstrates the country’s long-term commitment to the private sector, and is expected to further unlock its innovation potential and reinforce the confidence of private entrepreneurs,” said Wen Bin, chief economist at China Minsheng Bank.

    From ensuring fair market access and financing support to enhancing services and protection of original innovation, the 78-article law cements efforts to encourage, support and guide the growth of the private sector.

    The private sector has become a prominent part of China’s economy thanks to a nurturing policy environment, which has led to it driving innovation, employment and overall economic growth.

    Private firms make up more than 90 percent of the country’s total enterprises and more than 80 percent of urban employment. They have also become key players in China’s push for innovation-driven growth, contributing to more than 70 percent of the country’s technological innovation achievements.

    Experts and business leaders view the law as “highly timely and absolutely essential.” It comes as China revs up efforts to bolster the private sector and the broader economy, as the country tries to navigate external shocks and domestic development challenges.

    Private firms are facing mounting pressures, including international trade barriers, weak domestic demand and the pressing need for industrial transformation and upgrading, but opportunities coexist alongside these challenges, said Cheng Xiaobo, chairman of Lifang Group, a vision tech firm headquartered in Shanghai.

    With the legal safeguards and a focus on core tech breakthroughs, and by capitalizing on China’s emerging new consumption scenarios, private firms are better positioned to turn the headwinds into tailwinds, Cheng added.

    “The rule of law is the best business environment,” said Qi Xiangdong, chairman of cybersecurity firm Qi-Anxin and vice chairman of the All-China Federation of Industry and Commerce, noting that the law transforms policy support into legal guarantees.

    The legislation follows a series of pro-business measures rolled out this year. In February, China held a high-level symposium on private enterprises, which was widely viewed as a strong signal to boost the confidence and growth of the private sector.

    A month later, at the “two sessions,” the country reiterated support for private enterprises, vowing to take effective moves to stimulate the vitality of all market entities.

    China is also beefing up financial support for the private sector, and working to level the playing field. Last month, a new version of the market access negative list was unveiled, specifying fields that are off-limits to both domestic and overseas business entities. The new negative list reduced the number of items on it from 117 to 106.

    Executives of high-tech private firms particularly welcomed the law’s focus on tech innovation and enhanced protection for original innovation and intellectual property rights.

    Han Dongcheng, chairman of Anhui Easpeed Technology Co., Ltd., a firm focusing on holographic imaging technology, said the law served not only as an incentive for tech firms like his, but also as a strong institutional safeguard, enabling firms to focus on research and development with greater confidence in defending their achievements.

    Similarly, Tan Limin, chairman of Westwell, a Chinese tech firm that develops AI applications and autonomous driving solutions, highlighted the law’s broader significance. From ensuring a more level playing field, enabling fairer market competition, to encouraging innovation and enhancing intellectual property protection, “the law delivers concrete safeguards for private businesses and bolsters confidence for both their daily operation and long-term growth,” Tan said.

    Backed by follow-up policies and stricter enforcement, the law will further improve the business environment, unleash private-sector vitality, and promote the forging of a new development paradigm, cementing its role as a legal cornerstone for high-quality development of the private economy, said Wen of China Minsheng Bank. 

    MIL OSI China News –

  • MIL-OSI Australia: Bedshed pays penalties for allegedly misleading customers over NDIS endorsement

    Source: Australian Ministers for Regional Development

    Bedding retailer Bedshed Franchising Pty Ltd has paid $39,600 in penalties after the ACCC issued it with two infringement notices for allegedly making false or misleading representations to consumers through advertising that suggested certain products it sold had been evaluated or approved by the National Disability Insurance Scheme (NDIS).

    This action comes after the ACCC put businesses on notice of its focus on problematic advertising practices targeting NDIS participants in November 2024.

    The ACCC alleges that Bedshed advertised on its website and Google Ads that some of its mattresses, furniture and bedding accessories were ‘NDIS approved’ and ‘NDIS permitted’.

    “The NDIS does not approve any specific goods or services and to suggest otherwise is misleading and risks taking advantage of vulnerable consumers,” ACCC Chair Gina Cass-Gottlieb said.

    “Each NDIS participant has unique needs, and what’s funded under their plan is determined individually, not through a list of approved products. Targeting consumers experiencing vulnerability or disadvantage with misleading advertising is particularly concerning, and we are continuing to investigate companies making similar claims.”

    “These infringement notices should serve as a warning to all businesses that advertise their products or services to NDIS participants – your advertising must reflect the facts,” Ms Cass Gottlieb said.

    In December 2023, the Australian Government established the NDIS (Fair Price and Australian Consumer Law) Taskforce, which comprises of the ACCC, the NDIS Quality and Safeguards Commission and the National Disability Insurance Agency (NDIA). The taskforce was established to address concerns that NDIS participants were being charged more for goods and services than other consumers, and to address potential breaches of Australian Consumer Law.

    If an NDIS participant thinks a business has made false or misleading statements about products or services, including whether they are endorsed or approved by the NDIS, or if they consider their consumer rights have not been met, they can make a report to the ACCC.

    Further information for NDIS participants is available on the ACCC website.

    Note to editors

    The ACCC can issue an infringement notice when it has reasonable grounds to believe a person or business has contravened certain consumer protection provisions in the Australian Consumer Law.

    The payment of a penalty specified in an infringement notice is not an admission of a contravention of the Australian Consumer Law. The Australian Consumer Law sets the penalty amount.

    What false or misleading advertising about the NDIS might look like

    Examples of concerning advertising that may be false, or misleading include:

    • The use of the words ‘NDIS approved’ as the NDIS does not have the function of approving or endorsing particular goods or services.
    • Advertising suggesting NDIS funds will cover “all inclusive” holidays, when general costs associated with holidays would not be covered by NDIS funding.
    • Meal delivery services suggesting the cost of meals is covered by the NDIS, when the NDIS does not cover food expenses.
    • Advertising that provides instructions on how to use NDIS funding codes to cover costs of recreational services that are not covered by the NDIS – for example, going to the movies or a theme park.
    • Advertising that suggests a business is affiliated or endorsed by the NDIS, by using NDIS in its business name or in the description of its services, for example ‘NDIS therapies’.

    Background

    Bedshed is a franchise that supplies mattresses, bedding, furniture and related accessories to consumers. The business operates at a retail level with an online store and 43 brick-and-mortar stores in locations across WA, Victoria, Queensland, ACT and NSW. Of the 43 brick-and-mortar stores, 11 are registered NDIS providers.

    In December 2024, the ACCC instituted proceedings against registered NDIS provider Ausnew Home Care Service Pty Ltd, for alleged false and misleading representations, including statements that certain products were ‘NDIS approved’, relating to aged care and disability products. The matter remains before the Court.

    MIL OSI News –

  • MIL-OSI Economics: African Development Bank, DEG to deepen partnership in private sector development in Africa

    Source: African Development Bank Group
    The African Development Bank Group and Deutsche Investitions- und Entwicklungsgesellschaft (DEG), the Development Finance Institution that is a subsidiary of  KfW, have reinforced their strategic partnership to enhance private sector development across Africa.
    Officials from both institutions met in Abidjan, Cote d’Ivoire, on…

    MIL OSI Economics –

  • MIL-OSI Economics: Morocco: Perforation of the Al Massira dam sets new civil engineering standard for Africa to meet the challenge of water stress in the Marrakech…

    Source: African Development Bank Group
    The question of water management is of paramount importance in debates on Africa’s development. It will be central to the upcoming Annual Meetings of the African Development Bank, to be held in Abidjan from 26 to 30 May 2025 under the banner, “Making Africa’s Capital Work Better for Africa’s Development.”

    MIL OSI Economics –

  • MIL-OSI: LeddarTech Provides Update on Financial Situation and Announces Workforce Reduction

    Source: GlobeNewswire (MIL-OSI)

    QUEBEC CITY, Canada, May 20, 2025 (GLOBE NEWSWIRE) — LeddarTech® Holdings Inc. (“LeddarTech” or the “Company”) (Nasdaq: LDTC), an AI-powered software company recognized for its innovation in advanced driver assistance systems (ADAS) and autonomous driving (AD), today provided an update regarding its discussions with its lenders under the amended and restated financing offer dated as of April 5, 2023 with Fédération des caisses Desjardins du Québec (“Desjardins” and the financing offer, as amended, the “Desjardins Credit Facility”) and the bridge financing offer dated as of August 16, 2024 with the initial bridge lenders and certain members of management and the board of directors (collectively, the “Bridge Lenders”, and the financing offer, the “Bridge Facility”). While the Company continues to be in active discussions with Desjardins and its Bridge Lenders, it has not reached an agreement providing for additional financing for the Company or relief from the minimum cash, equity financing and process plan covenants contained in the Desjardins Credit Facility and Bridge Facility.

    In an effort to preserve cash and afford the Company additional time to pursue discussions with its lenders, the Company also announced a reduction of its workforce through temporary layoffs of approximately 138 individuals, in all of its locations and across all departments within the organization, representing approximately 95% of the Company’s total workforce. Such measure will provide the Company with additional time to continue to actively evaluate potential alternatives relating to a restructuring of its obligations, a sale of the business or certain of its assets, strategic investments and/or any other alternatives, including seeking creditor protection under the Companies’ Credit Arrangement Act. There can be no assurance that the Company will be successful in pursuing and implementing any such alternatives, nor any assurance as to the outcome or timing of any such alternatives.

    About LeddarTech

    A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.

    LeddarTech is responsible for several remote-sensing innovations, with over 190 patent applications (112 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.

    Additional information about LeddarTech is accessible at www.leddartech.com and on LinkedIn, Twitter (X), Facebook and YouTube.

    Forward-Looking Statements

    Certain statements contained in this Press Release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which forward-looking statements also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws), including, but not limited to, statements relating to LeddarTech’s selection by the OEM referred to above, anticipated strategy, future operations, prospects, objectives and financial projections and other financial metrics, as well as expectations regarding the anticipated performance, adoption and commercialization of its products. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation, our ability to continue to maintain compliance with Nasdaq continued listing standards following our transfer to the Nasdaq Capital Market, as well as: (i) the risk that LeddarTech and the OEM referred to above are unable to agree to final terms in definitive agreements; (ii) the volume of future orders (if any) from this OEM, actual revenue derived from expected orders, and timing of revenue, if any; (iii) our ability to timely access sufficient capital and financing on favorable terms or at all; (iv) our ability to maintain compliance with our debt covenants, including our ability to enter into any forbearance agreements, waivers or amendments with, or obtain other relief from, our lenders as needed; (v) our ability to execute on our business model, achieve design wins and generate meaningful revenue; (vi) our ability to successfully commercialize our product offering at scale, whether through the collaboration agreement with Texas Instruments, a collaboration with a Tier 2 supplier or otherwise; (vii) changes in our strategy, future operations, financial position, estimated revenues and losses, projected costs and plans; (viii) changes in general economic and/or industry-specific conditions; (ix) our ability to retain, attract and hire key personnel; (x) potential adverse changes to relationships with our customers, employees, suppliers or other parties; (xi) legislative, regulatory and economic developments; (xii) the outcome of any known and unknown litigation and regulatory proceedings; (xiii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak of war or hostilities and any epidemic, pandemic or disease outbreak, as well as management’s response to any of the aforementioned factors; and (xiv) other risk factors as detailed from time to time in LeddarTech’s reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the risk factors contained in LeddarTech’s Form 20-F filed with the SEC. The foregoing list of important factors is not exhaustive. Except as required by applicable law, LeddarTech does not undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:
    Chris Stewart, Chief Financial Officer, LeddarTech Holdings Inc.
    Tel.: + 1-514-427-0858, chris.stewart@leddartech.com

    Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

    LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol “LDTC.”

    The MIL Network –

  • MIL-OSI Banking: Samsung Art Store Brings Disney, Pixar, Star Wars and More to Screens in 4K

    Source: Samsung

     
    Samsung Electronics today announced the addition of new pieces from Disney’s iconic portfolio to the Samsung Art Store,1 offering TV users worldwide a stunning new way to enjoy beloved visuals from Disney, Pixar, Star Wars and National Geographic — all in crystal-clear 4K resolution.
     
    “We’re thrilled to expand our collaboration with Disney to offer their most beloved artwork to our global community of Art Store users,” said Heeyeong Ahn, Vice President of the Visual Display Business at Samsung Electronics. “By offering a diverse range of artistic content that transcends genres and generations, we aim to enrich the everyday lives of our users with art.”
     

     
    The new Disney Collection transforms living rooms into immersive digital galleries, featuring classic and contemporary works that celebrate storytelling, adventure and the beauty of our planet. From the heartwarming tales of Disney princesses from films like “The Little Mermaid,” “Snow White,” and “Tangled” to the legendary “Star Wars saga” and the breathtaking wildlife of “Planet Earth,” the collection also offers fans a chance to discover new favorites — all through the lens of stunning digital art.
     
    Samsung Art Store, a global digital art subscription platform available on Samsung TVs, now offers over 3,500 curated artworks from more than 800 artists and 70 world-class galleries and museums. First launched in 2017 with The Frame, the Art Store experience is now available on 2025 Samsung AI-powered Neo QLED and QLED TVs,2 giving more viewers access to premium art in 4K resolution.
     
    In addition to this latest Disney collaboration, users can easily enjoy masterpieces from world-renowned museums such as the Museum of Modern Art (MoMA), the Metropolitan Museum of Art and the Musée d’Orsay, as well as a variety of contemporary and modern artworks showcased at Art Basel, from the comfort of their homes. The service also includes curated selections handpicked by professional art experts on a monthly basis, enhancing the overall viewing experience.
     
    For more information, visit www.samsung.com.
     
     
    1 The Disney Collection is now available in selected countries across Asia, North America (including the United States and Canada), and Europe, where the Samsung Art Store is supported.
    2 For models Q7F and above.

    MIL OSI Global Banks –

  • MIL-OSI Submissions: Tech – INMA launches new Advertising Initiative aimed at demystifying opaque digital ecosystem

    Source:  International News Media Association (INMA)

    NEW YORK (20 May 2025) – The INMA Board of Directors today approved an Advertising Initiative aimed at equipping media leaders with practical guidance on first-party data activation for advertising, premium ad products, revenue diversification strategies, measurement and attribution, AI, navigating brand safety, and evolved selling approaches.

    Former New York Times advertising executive Gabriel Dorosz will lead the INMA Advertising Initiative. Dorosz is the former executive strategy director, advertising, and head of audience strategy & insights at The New York Times. He previously served in strategy roles at WPP, FCB, Cramer-Krasselt, Blast Radius, CTG/Morpheus Media, and more.

    The Advertising Initiative will use practical research, case studies, and implementation guides to give CEOs and chief revenue officers the tools to build sustainable advertising revenue. Key deliverables for INMA members will include blogs, newsletters, Webinars, master classes, seminars, a Slack channel, reports, and Ask Me Anything sessions with members.

     

    “We want to simplify and demystify what is often opaque or overly complex about the digital advertising ecosystem for media leaders,” said Earl J. Wilkinson, executive director and CEO of INMA. “We want to focus on realistic implementation rather than theory. We want to bridge the gap between the cutting-edge possibility and business realities.”

    In a presentation to the INMA Board of Directors today, Dorosz recommended primary focus areas as:

    First-party data activation for advertising revenue: Building actionable strategies to collect, unify, and monetise first-party data specifically for advertising use cases and revenue growth – for example, segmentation models and clean rooms.

    Advertising format and product innovation: Developing high-performing advertising formats that deliver demonstrable results across channels such as video, audio, print-to-digital bridging, and cross-media packaging.

    Sales and revenue diversification strategies: Creating balanced approaches that maximise direct deals while expanding beyond traditional display formats such as events, branded content, and programmatic.

    Measurement and attribution excellence: Implementing frameworks that prove advertising impact and demonstrate ROI across platforms such as brand lift, incrementality, attention metrics, and cross-platform attribution.

    Secondary focus areas include:

    Talent and organisation design: Building the teams and structures needed to succeed in the evolving advertising landscape with focus on local market needs, talent attraction and development, and breaking silos.

    Brand safety and news environment value: Transforming news content challenges into premium advertising advantages through differentiation of premium news environment and performance case studies.

    AI-powered advertising operations: Deploying AI strategically across the advertising lifecycle – e.g. targeting, optimisation, dynamic pricing, and yield optimisation – to enhance efficiency, effectiveness, and revenue.

    Ad industry insight and strategic partnerships: Understanding buyer perspectives, industry trends, insights and best practices (e.g., social, influencers, video), ad tech ecosystem dynamics, trade associations, and effective vendor relationships.

    Board members emphasised the need to balance revenue models as well as legacy vs. digital models. Dorosz talked about the need to speak to different buyer motivations in different markets, whether quality- or scale-focused. He also discussed balancing direct and programmatic advertising, with programmatic providing efficiency at lower CPMs while direct sales requiring more innovation and resources but offering premium opportunities.

    Board members suggested that the news industry could use an injection of creativity and ideas when it comes to advertising, with data and digital products crucial to success. Native advertising, events, and content commerce are also keys.

    Another emerging theme from INMA Board members is the need to shift the news industry storyline from reach to engagement. For example, direct traffic is much more valuable than social and search. Measurement priorities should shift from performance to brand lift, incrementality, attention, and top-of-the-funnel metrics.

    While legacy platforms such as print, television, and radio continue to deliver significant revenue to media companies, digital advertising and commerce is emerging as the future-proofing route for most. More than 75% of global advertising now goes to digital channels, Dorosz said.

    The Advertising Initiative is INMA’s sixth active initiative focused on news media’s emerging business models: Readers First Initiative led by Greg Piechota; Digital Platform Initiative led by Robert Whitehead; Product & Tech Initiative led by Jodie Hopperton; Newsroom Transformation Initiative led by Amalie Nash; and Generative AI Initiative led by Sonali Verma.

    About International News Media Association (INMA)

    The International News Media Association (INMA) is a global community of market-leading news media companies reinventing how they engage audiences and grow revenue in a multiplatform environment. The INMA community consists of more than 22,000 members at 1,000+ news media companies in 90+ countries, representing tens of thousands of news brands. INMA is the news media industry’s foremost ideas-sharing network with members connected via conferences, reports, Webinars, virtual meetings, awards competitions, and an unparalleled archive of best practices. Its initiatives focus on reader revenue, advertising & commerce, product & tech, generative AI, newsroom transformation, and the publisher relationship with tech platforms.

    MIL OSI – Submitted News –

  • MIL-OSI USA: Foreign National Sentenced for $3.2 Million Medicare Fraud Scheme

    Source: US State of California

    A foreign national was sentenced today to 30 months in prison for his role in a scheme to defraud Medicare of more than $3.2 million through a sham durable medical equipment company.

    According to court documents, Julian Lopez, 55, a citizen of Cuba who resides in Miami-Dade County, Florida, obtained Medicare beneficiary identification cards and sold Medicare beneficiaries’ personal information to a durable medical equipment company, One Medical Services. Lopez knew the Medicare identification cards he obtained would be used to submit fraudulent claims to Medicare. One Medical Services used the information from Lopez to bill Medicare for orthotic braces that were never provided to the Medicare beneficiaries. In connection with the scheme, One Medical Services submitted and caused the submission of over $3.2 million in false and fraudulent claims to Medicare for medically unnecessary DME.

    Lopez pleaded guilty to two counts of health care fraud in February 2025. At sentencing, he was also ordered to pay $1,496,412 in restitution.

    Matthew R. Galeotti, Head of the Justice Department’s Criminal Division; Acting Special Agent in Charge Jesus Barranco at the U.S. Department of Health and Human Services, Office of Inspector General (HHS-OIG) Miami Regional Office; and Acting Special Agent in Charge Brett Skiles of the FBI Miami Field Office made the announcement.

    The FBI and HHS-OIG investigated the case.

    Assistant Chief Emily Gurskis and Trial Attorney Owen Dunn of the Criminal Division’s Fraud Section prosecuted the case.

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

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Government teams with parking giants to ensure drivers can use preferred apps in all car parks

    Source: United Kingdom – Executive Government & Departments

    Press release

    Government teams with parking giants to ensure drivers can use preferred apps in all car parks

    British Parking Association will develop and run the ‘national parking platform’, providing drivers with a more flexible parking experience.

    • huge step forward for simpler parking as industry delivers ‘one app fits all’ parking platform
    • government collaboration paves the way for British Parking Association to spearhead new parking platform – at no cost to the taxpayer
    • backing drivers, this government is investing £4.8 billion to deliver new roads and £1.6 billion to fix potholes, helping to get the country moving through the Plan for Change

    Drivers are set to benefit from simpler parking nationwide, as industry delivers a ‘one app fits all’ parking platform at no cost to the taxpayer, following government-backed trials.

    The government has today (21 May 2025) confirmed that, following successful collaboration with the sector, the British Parking Association will now take forward the development and running of the National Parking Platform (NPP).

    The platform will enable drivers to pay for parking in all participating car parks on their preferred app – ending the scramble to download multiple apps and encouraging a more flexible parking experience. The government intervened to make sure it can be delivered by a consortium of industry leaders, including Ringo, JustPark and PayByPhone and led by the British Parking Association (BPA).

    Currently, drivers face inconsistent parking rules, clunky user experiences and unnecessary barriers to something that should be simple. The National Parking Platform fixes this, connecting participating car parks to a shared platform, through which drivers can pay using any approved app – cutting confusion, reducing the chance of fines and opening up the parking market to fairer competition.

    Minister for the Future of Roads, Lilian Greenwood, said: 

    This government is on the side of drivers and dedicated to giving everyone simpler, more flexible parking. I’m delighted that this fantastic project is being taken on by the parking sector with no extra cost to taxpayers. 

    This is public infrastructure done right: built by government, shaped with councils and now delivered by the sector that knows it best, at a time where we’re investing a record £1.6 billion through our Plan for Change, to mend our pothole-ridden roads that damage cars and £4.8 billion to deliver new road infrastructure that will better connect people.

    The new agreement will see the parking sector working with councils to run the platform on a not-for-profit basis. It will operate under clear terms to ensure transparency, sustainability, and public value. The government will maintain oversight of the platform by monitoring the sector’s compliance with these terms.

    So far, the platform has been rolled out in 10 local authorities and now handles over half a million transactions a month. Today’s announcement means drivers nationwide will benefit from a simpler, more seamless experience. 

    Andrew Pester, BPA Chief Executive, said:

    Today’s announcement marks the result of 6 years of dedicated work by our parking sector to make paying for parking easier. We’ve strongly supported the National Parking Platform from the start, so we’re thrilled with this outcome and excited to collaborate with the Department for Transport and the new NPP company to create a better parking experience for all drivers.

    As part of their next steps, the new consortium will be onboarding more local authorities imminently to ensure that easier, simpler parking is rolled out to more drivers as soon as possible.

    This announcement comes as the government invests £1.6 billion to tackle the scourge of potholes and deliver national renewal through investment in vital infrastructure that will drive growth and put more money in working people’s pockets and deliver the Plan for Change.

    Roads media enquiries

    Media enquiries 0300 7777 878

    Switchboard 0300 330 3000

    Updates to this page

    Published 21 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Grangemouth workers receive ‘training guarantee’

    Source: United Kingdom – Executive Government & Departments

    Press release

    Grangemouth workers receive ‘training guarantee’

    Grangemouth workers receive ‘training guarantee’ to benefit from clean energy jobs.

    • Over 260 workers have received 1:1 skills support from Forth Valley College to support their transition into new, high-skilled jobs, with 184 workers already beginning training   

    • signals swift delivery of the Prime Minister’s commitment to a ‘training guarantee’ to secure a future for workers, as part of the Plan for Change  

    • Energy Secretary and Energy Minister join Scottish Cabinet Secretary for Net Zero and Energy in first Grangemouth Investment Taskforce meeting today to discuss securing private investment and a long-term future for Grangemouth – backed by £200 million from the UK government, and £25 million from the Scottish Government   

    Petroineos refinery workers at Grangemouth are being actively supported through the Prime Minister’s commitment to a ‘training guarantee’ to help secure new well-paid work, as part of the UK and Scottish Governments’ pledge to secure a future for those affected by the closure of the oil refinery.   

    The government took swift action to protect workers after Petroineos confirmed their plans to close the refinery, including announcing up to £10 million to provide new skills support that will help the site’s workers into good clean energy jobs, as well as supporting new energy projects in the region. This also included a commitment from the Prime Minister in February to deliver a “training guarantee”.  

    This guarantee is now being delivered, with 184 out of 300 workers having now engaged in retraining activity with the majority of the remaining workforce registered for training.  

    Workers have been offered a wide range of training opportunities, including renewable energy upskilling courses and wind turbine engineering courses, paid for and supported by the UK and Scottish Governments. This will provide them with the vital skills needed to secure new jobs, including in the clean energy sector – which currently supports more than 42,000 jobs in Scotland.   

    Every Petroineos worker affected by the decision to close the oil refinery has now been provided the opportunity for 1:1 interviews with careers specialists at Forth Valley College.  

    These will help identify their skills, qualifications and training needs to create a programme of bespoke courses that will ensure their smooth transition into new roles – supporting the next generation of good jobs and driving economic growth as part of the government’s Plan for Change.  

    It comes as the Energy Secretary Ed Miliband, Scottish Cabinet Secretary for Net Zero and Energy Gillian Martin and Energy Minister Michael Shanks join the Office for Investment, Scottish Enterprise, National Wealth Fund and Scottish National Investment Bank for the inaugural Grangemouth Investment Taskforce meeting today where they will discuss securing private investment in the future of the site – with 66 enquiries received so far.  

    Minister for Energy Michael Shanks said:  

    The workforce at Grangemouth is highly skilled with significant transferrable experience which our training commitment recognises by providing tailored support for workers into new employment opportunities. 

    As well as continuing to work to secure the site’s long-term industrial future, we want to ensure no worker is left behind and that they are equipped with the skills they need to secure good jobs. This is our Plan for Change in action. 

    Acting Cabinet Secretary for Net Zero and Energy Gillian Martin said:  

    The Scottish Government’s immediate focus has rightly been on supporting workers who have lost their jobs. We committed up to £450,000 to ensure that they are supported and assisted to secure other employment and to contribute their valuable skills to Scotland’s green economy.  

    That is why we are also working to secure Grangemouth’s role in that future and create an investible industrial strategy for the site. It’s clear that real progress is being made on the findings from Project Willow. We are working closely with Scottish Enterprise – who are already assessing nearly 70 inquiries aligned to the full range of technologies set out in the report – and we are determined to ensure we realise the full potential for the site’s transformation. 

    Scottish Secretary Ian Murray said:  

    We know this is a worrying time for workers and their families at Grangemouth. I am pleased more than 260 highly skilled workers have already received support from Forth Valley College thanks to funding from the UK government as part of the £100 million Falkirk and Grangemouth Growth Deal package. 

    By offering bespoke training in renewable energy and wind turbine engineering, we’re not just supporting individual workers but also helping Scotland lead the way in clean energy jobs. We are determined that Grangemouth will have a green energy future and have committed £200 million through the National Wealth Fund toward that. 

    Kenny MacInnes, Principal of Forth Valley College, said:   

    The College continues to work extremely hard to make sure that all the Petroineos employees affected by the refinery closure, are able to access the support they need as they begin their transition into new training, careers and jobs.  

    We are making learning work in our Forth Valley communities and beyond, and we want to assure everyone that we will continue to be there for them as they take the next steps in their careers and their studies. 

    Steven Bell, former Hazardous Areas Technician at Petroineos Grangemouth Refinery, said:   

    The support I received from Forth Valley College with retraining during the redundancy process has been exceptional.  

    From my 1:1 meetings discussing courses that I would be interested in and what my future career path might be, right through to getting booked onto the courses I had selected, nothing was too much trouble.  

    All in all, I can say I am absolutely delighted with what Forth Valley College have provided for me during this process. 

    The training support has helped workers enter new employment. For example, former Hazardous Areas Technician Steven Bell took part in a range of courses that enabled him to renew his Electricians Grade Card, as well as courses in working in hazardous areas which will support him in his new role as a Compliance Supervisor with a company involved in the pharmaceutical and distillery sector.  

    It follows the publication of a feasibility report ‘Project Willow’ that provided nine proposals for Grangemouth, backed by £200 million from the UK government and £25 million from the Scottish Government, which will support jobs, unlock investment and drive growth.  

    The report sets out various options for the site, including plastics recycling, hydrogen production and other projects that could create up to 800 jobs by 2040. This will help to grow the economy and deliver on both governments’ shared ambition to secure a long-term future for Grangemouth – with Scottish Enterprise already receiving a high level of interest from potential investors.  

    The UK government is unlocking Scotland’s clean energy potential and recently awarded £55.7 million to the Port of Cromarty Firth to develop and manufacture new floating offshore wind farms in Scotland. It has also launched a Skills Passport to support oil and gas workers to identify routes into several roles in offshore wind including construction and maintenance.

    Updates to this page

    Published 21 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI Security: San Jose Executives Plead Guilty To Employment Tax Crimes

    Source: Office of United States Attorneys

    SAN JOSE — Two California men pleaded guilty yesterday to not paying over employment taxes to the IRS.

    The following is according to court documents and statements made in court: Lalo Valdez and Matthew Olson, both of Northern California, operated a San Jose-based health informatics and product development company that provided clinical care and technology services to clients in healthcare and academia. Valdez was the CEO and Olson the CFO. As such, both were responsible for the company’s operations, managed its internal books and records, signed checks on behalf of the company, and hired and fired employees. Both men also were responsible for withholding Social Security, Medicare, and federal income taxes from employees’ wages and paying those funds over to the government each quarter. The timely payment of quarterly employment taxes is critical to the functioning of the U.S. government, because, for example, they are the primary source of funding for Social Security and Medicare. The federal income taxes that are withheld from employees’ wages also account for a significant portion of all federal income taxes collected each year.

    For every calendar quarter from the first quarter of 2017 through the second quarter of 2021, Valdez and Olson withheld these taxes from employees’ wages but did not pay them over to the IRS or report them on quarterly tax forms. Instead of paying over the taxes, Valdez and Olson used the company’s money to pay for country club memberships and season tickets to the San Jose Sharks of the National Hockey League.

    During this same period, Olson also was one of the owners and operators of a day spa located in Saratoga, Calif.  There, Olson was responsible for collecting and paying Social Security, Medicare, and income taxes to the IRS.  From the second quarter of 2017 through the fourth quarter of 2020, however, Olson collected but did not pay them over to the IRS or report them on quarterly tax forms.

    In total, Olson caused a tax loss to the IRS exceeding $2.1 million.

    Valdez caused a total tax loss to the IRS of nearly $1.5 million.

    Valdez and Olson are scheduled to be sentenced on Oct. 20. Both men face a maximum penalty of five years in prison as well as a period of supervised release, restitution, and monetary penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting U.S. Attorney Patrick D. Robbins, Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division, and IRS Criminal Investigation Special Agent in Charge of the Oakland Field Office Linda Nguyen made the announcement.

    IRS Criminal Investigation is investigating the case.

    Assistant U.S. Attorney Kristina Green and Trial Attorney Mahana Weidler of the Tax Division are prosecuting the case.
     

    MIL Security OSI –

  • MIL-OSI Security: Arizona Mechanic Sentenced to Prison, Must Repay $1.37 Million for Defrauding Missouri Customer, Others

    Source: Office of United States Attorneys

    ST. LOUIS – U.S. District Judge Sarah E. Pitlyk on Tuesday sentenced a purported auto mechanic from Arizona to 33 Months in Prison and ordered him to repay $1.37 million to his fraud victims.

    Beginning in November 2019, Andres “Manny” Lopez, 37, defrauded customers of his Arizona company, All Performance Tuning and Diesel Repair LLC, by accepting money for vehicles, vehicle upgrades and parts with no intention of performing the work or turning over the vehicles. He also damaged some customer vehicles and loaned vehicles to others without the owners’ consent.

    A Missouri victim who wanted to buy a vehicle for his mother wired Lopez $45,000 for a Toyota RAV4. Lopez falsely claimed that he’d bought the vehicle, and then provided a series of false excuses about why it was not being delivered. Lopez claimed delivery delays were due to product recalls and even impersonated the general manager of a Florida Toyota dealership in text messages to the client’s mother.

    After Lopez was indicted in October of 2023, he defrauded another victim out of approximately $567,892.

    Lopez used the money for personal expenses.

    In a letter to the court, one victim spoke of Lopez’s pattern: “Promise… then a reason why I cannot meet that promise… then a new promise… then repeat the string (for years).”

    Lopez pleaded guilty in February U.S. District Court in St. Louis to one count of wire fraud.

    “For years, Andres Lopez lied to customers to line his own pockets. The lies and manipulation continued even after he had been charged for the crime and released on bond,” said Special Agent in Charge Chris Crocker of the FBI St. Louis Division. “Today, Lopez earned every day of his prison sentence for victimizing people with his fraudulent business practices.”

    The FBI investigated the case. Assistant U.S. Attorney Derek Wiseman is prosecuting case.

    MIL Security OSI –

  • MIL-OSI: Purpose Investments Inc. Announces May 2025 Distributions

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 20, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”) is pleased to announce distributions for the month of May 2025 for its open-end exchange traded funds and closed-end funds (“the Funds”).

    The ex-distribution date for all Open-End Funds is May 28, 2025. The ex-distribution date for all closed-end funds is May 30, 2025.   

    Open-End Funds Ticker
    Symbol    		 Distribution
    per share/unit    		 Record
    Date    		 Payable
    Date    		 Distribution
    Frequency
    Apple (AAPL) Yield Shares Purpose ETF – ETF Units APLY $0.1667 05/28/2025 06/03/2025 Monthly
    Purpose Canadian Financial Income Fund – ETF Series BNC $0.1225¹ 05/28/2025 06/03/2025 Monthly
    Berkshire Hathaway (BRK) Yield Shares Purpose ETF – ETF Units BRKY $0.1000 05/28/2025 06/03/2025 Monthly
    Purpose Bitcoin Yield ETF – ETF Units BTCY $0.0850 05/28/2025 06/03/2025 Monthly
    Purpose Bitcoin Yield ETF – ETF Non-Currency Hedged Units BTCY.B $0.0970 05/28/2025 06/03/2025 Monthly
    Purpose Bitcoin Yield ETF – ETF USD Units BTCY.U US $0.0815 05/28/2025 06/03/2025 Monthly
    Purpose Credit Opportunities Fund – ETF Units CROP $0.0875 05/28/2025 06/03/2025 Monthly
    Purpose Credit Opportunities Fund – ETF USD Units CROP.U US $0.0975 05/28/2025 06/03/2025 Monthly
    Purpose Ether Yield – ETF Units ETHY $0.0405 05/28/2025 06/03/2025 Monthly
    Purpose Ether Yield ETF – ETF Non-Currency Hedged Units ETHY.B $0.0500 05/28/2025 06/03/2025 Monthly
    Purpose Ether Yield ETF – ETF Units Non-Currency Hedged USD Units ETHY.U US $0.0395 05/28/2025 06/03/2025 Monthly
    Purpose Global Flexible Credit Fund – ETF Units FLX $0.0461 05/28/2025 06/03/2025 Monthly
    Purpose Global Flexible Credit Fund – Non-Currency Hedged – ETF Units FLX.B $0.0551 05/28/2025 06/03/2025 Monthly
    Purpose Global Flexible Credit Fund – Non-Currency Hedged USD – ETF Units FLX.U US $0.0385 05/28/2025 06/03/2025 Monthly
    Purpose Global Bond Class – ETF Units IGB $0.0860¹ 05/28/2025 06/03/2025 Monthly
    Microsoft (MSFT) Yield Shares Purpose ETF – ETF units MSFY $0.1100 05/28/2025 06/03/2025 Monthly
    Purpose Enhanced Premium Yield Fund – ETF Series PAYF $0.1375¹ 05/28/2025 06/03/2025 Monthly
    Purpose Total Return Bond Fund – ETF Series PBD $0.0590¹ 05/28/2025 06/03/2025 Monthly
    Purpose Core Dividend Fund – ETF Series PDF $0.1050¹ 05/28/2025 06/03/2025 Monthly
    Purpose Enhanced Dividend Fund – ETF Series PDIV $0.0950¹ 05/28/2025 06/03/2025 Monthly
    Purpose Real Estate Income Fund – ETF Series PHR $0.0720¹ 05/28/2025 06/03/2025 Monthly
    Purpose International Dividend Fund – ETF Series PID $0.0780 05/28/2025 06/03/2025 Monthly
    Purpose Monthly Income Fund – ETF Series PIN $0.0830¹ 05/28/2025 06/03/2025 Monthly
    Purpose Multi-Asset Income Fund – ETF Units PINC $0.0840 05/28/2025 06/03/2025 Monthly
    Purpose Conservative Income Fund – ETF Series PRP $0.0600¹ 05/28/2025 06/03/2025 Monthly
    Purpose Premium Yield Fund – ETF Series PYF $0.1100¹ 05/28/2025 06/03/2025 Monthly
    Purpose Premium Yield Fund Non-Currency Hedged – ETF Series PYF.B $0.1230¹ 05/28/2025 06/03/2025 Monthly
    Purpose Premium Yield Fund Non-Currency Hedged – ETF USD Series PYF.U US $0.1200¹ 05/28/2025 06/03/2025 Monthly
    Purpose Core Equity Income Fund – ETF Series RDE $0.0875¹ 05/28/2025 06/03/2025 Monthly
    Purpose Emerging Markets Dividend Fund – ETF Units REM $0.0950 05/28/2025 06/03/2025 Monthly
    Purpose Canadian Preferred Share Fund – ETF Units RPS $0.0950 05/28/2025 06/03/2025 Monthly
    Purpose US Preferred Share Fund – ETF Series RPU $0.0940 05/28/2025 06/03/2025 Monthly
    Purpose US Preferred Share Fund Non-Currency Hedged – ETF Units2 RPU.B / RPU.U $0.0940 05/28/2025 06/03/2025 Monthly
    Purpose Strategic Yield Fund – ETF Units SYLD $0.0970 05/28/2025 06/03/2025 Monthly
    AMD (AMD) Yield Shares Purpose ETF – ETF Series YAMD $0.2000 05/28/2025 06/03/2025 Monthly
    Amazon (AMZN) Yield Shares Purpose ETF- ETF Units YAMZ $0.4000 05/28/2025 06/03/2025 Monthly
    Broadcom (AVGO) Yield Shares Purpose ETF – ETF Series YAVG $0.1500 05/28/2025 06/03/2025 Monthly
    Coinbase (COIN) Yield Shares Purpose ETF – ETF Series YCON $0.3000 05/28/2025 06/03/2025 Monthly
    Costco (COST) Yield Shares Purpose ETF – ETF Series YCST $0.1000 05/28/2025 06/03/2025 Monthly
    Alphabet (GOOGL) Yield Shares Purpose ETF – ETF Units YGOG $0.2500 05/28/2025 06/03/2025 Monthly
    Tech Innovators Yield Shares Purpose ETF – ETF Series YMAG $0.2000 05/28/2025 06/03/2025 Monthly
    META (META) Yield Shares Purpose ETF – ETF Series YMET $0.1600 05/28/2025 06/03/2025 Monthly
    Netflix (NFLX) Yield Shares Purpose ETF – ETF Series YNET $0.1100 05/28/2025 06/03/2025 Monthly
    NVIDIA (NVDA) Yield Shares Purpose ETF – ETF Units YNVD $0.7500 05/28/2025 06/03/2025 Monthly
    Palantir (PLTR) Yield Shares Purpose ETF – ETF Series YPLT $0.2500 05/28/2025 06/03/2025 Monthly
    Tesla (TSLA) Yield Shares Purpose ETF – ETF Units YTSL $0.5500 05/28/2025 06/03/2025 Monthly
    UnitedHealth Group (UHN) Yield Shares Purpose ETF – ETF Series YUNH $0.1100 05/28/2025 06/03/2025 Monthly
               
    Closed-End Funds Ticker
    Symbol    		 Distribution
    per share/unit    		 Record
    Date    		 Payable
    Date    		 Distribution
    Frequency
    Big Banc Split Corp, Class A BNK $0.1200¹ 05/30/2025 06/13/2025 Monthly
    Big Banc Split Corp – Preferred Shares BNK.PR.A $0.0700¹ 05/30/2025 06/13/2025 Monthly


    Estimated May 2025 Distributions for Purpose USD Cash Management Fund, Purpose Cash Management Fund, Purpose High Interest Savings Fund, and Purpose US Cash Fund

    The May 2025 distribution rates for Purpose USD Cash Management Fund, Purpose Cash Management Fund, Purpose High Interest Savings Fund, and Purpose US Cash Fund are estimated to be as follows:

    Open-End Fund Ticker
    Symbol    		 Final distribution
    per unit    		 Record
    Date    		 Payable
    Date    		 Distribution
    Frequency
    Purpose USD Cash Management Fund – ETF Units MNU.U US $ 0.3528 05/28/2025 06/03/2025 Monthly
    Purpose Cash Management Fund – ETF Units MNY $0.2370 05/28/2025 06/03/2025 Monthly
    Purpose High Interest Savings Fund – ETF Units PSA $0.1068 05/28/2025 06/03/2025 Monthly
    Purpose US Cash Fund – ETF Units PSU.U US $ 0.3495 05/28/2025 06/03/2025 Monthly

    Purpose expects to issue a press release on or about May 27, 2025, which will provide the final distribution rate for Purpose USD Cash Management Fund, Purpose Cash Management Fund, Purpose High Interest Savings Fund, and Purpose US Cash Fund. The ex-distribution date will be May 28, 2025.

    (1) Dividend is designated as an “eligible” Canadian dividend for purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.
    (2) Purpose US Preferred Share Fund Non-Currency Hedged – ETF Units have both a CAD and USD purchase option. Distribution per unit is declared in CAD, however, the USD purchase option (RPU.U) distribution will be made in the USD equivalent. Conversion into USD will use the end-of-day foreign exchange rate prevailing on the ex-distribution date.


    About Purpose Investments Inc.

    Purpose Investments is an asset management company with more than $21 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.

    For further information please contact:
    Keera Hart
    Keera.Hart@kaiserpartners.com
    905-580-1257

    Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

    The MIL Network –

  • MIL-OSI New Zealand: Awards – Outstanding exporters to be recognised at ExportNZ ASB Bay of Plenty Export Awards

    Source: EMA

    Judges for the ExportNZ ASB Bay of Plenty Export Awards have announced the finalists who will be honoured at the awards gala on Friday 18 July at Mercury Baypark, Mount Maunganui. The awards, organised by the EMA, celebrate the exceptional achievements of Bay of Plenty businesses who are exporting goods and services to markets around the world.
    The event is proudly supported by principal sponsor ASB, as well as Sharp Tudhope, Air NZ Cargo, Page Macrae, Zespri, and Orbit Travel, and supporting partners NZTE, Comvita and Port of Tauranga.
    Winners announced at Awards Gala on 18  July, at Mercury Baypark, Mount Maunganui
    The success of each finalist will be celebrated at the 1920s-themed awards gala on 18 July, which promises to be a night of elegance, glamour and celebration, honouring the innovation and resilience of the region’s exporters. Gala tickets are available at ExportNZ ASB Bay of Plenty Export Awards 2025 .
    List of finalists – ExportNZ ASB Bay of Plenty Export Awards
    Finalists in the 2025 awards encompass a broad range of innovative businesses, showcasing the breadth and depth of exporting excellence in the Bay of Plenty region. These include heavy engineering and precision machine manufacturers, technology and software solution providers for the agricultural, health and legal sectors, as well as a manufacturer of kids’ cycling accessories. The finalists for the 2025 ExportNZ ASB Bay of Plenty Export Awards are:
    • Bluelab – a manufacturer of precision instruments for measuring pH, electrical conductivity and temperature in controlled agricultural environments.
    • Carepatron – a provider of a secure, cloud-based healthcare solution for practitioners to manage clients, appointments, payments, and records.
    • Kids Ride Shotgun – a designer and manufacturer of mountain bike seats and accessories for young children to enjoy biking with their families.
    • LawVu – a provider of a unified, cloud-based legal workspace, designed for in-house legal teams to efficiently manage matters, contracts, spend, documents, and reporting within a single, secure platform.
    • Medella Health – a developer of innovative wellness devices, including the Flowpresso therapy suit, which combines compression, deep pressure and thermo therapy.
    • Oasis Engineering – a manufacturer of high-pressure control devices for gases, such as hydrogen and compressed natural gas.
    • Plazmax – a designer and manufacturer of advanced computer numerical control (CNC) plasma cutting and robotic welding systems for precision engineering.
    • Rhino Manufacturing – an industry-leading supplier of parts for trucks and trailers; Rhino guards blend powerful performance with striking style.
    • Spida Machinery – a manufacturer of high-quality, precision machinery for the frame, truss, and building-component industries.
    • Trimax Mowing Systems – a designer and manufacturer of tractor-powered roller and flail mowers for commercial use.
    The short-listed exporting companies will be judged over the following categories:
    – Best Emerging Business (in partnership with Air New Zealand Cargo) – recognising businesses in the early stage of their international growth journey.
    – Excellence in Innovation (in partnership with Page Macrae) – recognising success in the commercialisation of innovation in international markets, incorporating intellectual property, strategy, processes and monitoring.
    – Exporter of the Year (in partnership with Sharpe Tudhope) – recognising the success of those businesses that are established in their international growth journey.
    In addition, the Export Achievement Award (in partnership with Zespri) recognises an individual who has made a material contribution to the export success of a business. Finalists for this category are:
    – Sarah Webb, LawVu
    – Karl Stevenson, BlueLab
    Finally, the Services to Export Award (in partnership with Orbit Travel) recognises an individual or business, who may or may not be directly involved with exporting, but has made a significant contribution to exporting success in the Bay of Plenty. Entry for this award is by nomination only, with the winner announced at the awards gala on 18 July.
    Highlighting export innovation in Bay of Plenty
    The awards are organised by the EMA on behalf of ExportNZ. EMA Chief Executive John Fraser-Mackenzie says, “We look forward to honouring these outstanding companies at this year’s awards gala on 18 July, which will harness the spirit of the ‘Roaring Twenties’.
    “The awards celebrate the community of business, providing an opportunity for peer-to-peer networking and knowledge sharing among like-minded, export-oriented companies.”
    Chair of the ExportNZ BoP Executive Committee Warwick Downing says, “These awards shine a well-deserved spotlight on the incredible exporters in the Bay of Plenty who work tirelessly to bring New Zealand products and services to the world.
    “Equally important is the opportunity they provide to bring the exporting community together, to share stories, challenges, and insights that help drive the sector forward.”
    Head of Trade Finance at ASB Bank Mike Atkins says, “We are excited to partner with ExportNZ to celebrate the export champions from the Bay of Plenty region.
    “At ASB, we are passionate about enabling exporters to scale up, be it through working capital funding or other advisory initiatives across productivity, sustainability, clean tech, and food & fibre.”
    Executive Director of ExportNZ Josh Tan says, “These awards are a recognition of the incredible mahi of exporters in the Bay of Plenty who continue to deliver excellence.
    “The awards not only celebrate the individual enterprises, importantly they encourage a collaborative culture that nurtures exporting success across the region.”

    MIL OSI New Zealand News –

  • MIL-Evening Report: NZ Budget 2025: science investment must increase as a proportion of GDP for NZ to innovate and compete

    Source: The Conversation (Au and NZ) – By Nicola Gaston, Director of the MacDiarmid Institute for Advanced Materials and Nanotechnology, University of Auckland, Waipapa Taumata Rau

    Shutterstock/Olivier Le Queinec

    A lack of strategy and research funding – by both the current and previous governments – has been well documented, most comprehensively in the first report by the Science System Advisory Group (SSAG), released late last year.

    If there is one word that sums up the current state of New Zealan’s research sector, it is scarcity. As the report summarises:

    We have an underfunded system by any international comparison. This parsimony has led to harmful inter-institutional competition in a manner that is both wastefully expensive in terms of process and scarce researcher time, and is known to inhibit the most intellectually innovative ideas coming forward, and of course it is these that can drive a productive innovation economy.

    The government expects research to contribute to economic growth, but policy and action undermine the sector’s capacity to do so.

    The latest example is last week’s cancellation of the 2026 grant application round of the NZ$55 million Endeavour Fund “as we transition to the science, innovation and technology system of the future”. Interrupting New Zealand’s largest contestable source of science funding limits opportunities for researchers looking for support for new and emerging ideas.

    Changes to the Marsden Fund, set up 30 years ago to support fundamental research, removed all funding for social science and the humanities and shifted focus to applied research. This is despite fundamental research in all fields underpinning innovation and the international ranking of our universities.

    New Zealand has an opportunity to change its economy based on the potential of emerging sectors such as artificial intelligence, cleantech and quantum technologies. Other countries, including Australia and the United Kingdom, already consider quantum technologies a priority and fund them accordingly.

    But when it comes to strategy, the composition of the boards of new Public Research Organisations, set up as part of the government’s science sector reform, are skewed towards business experience. Where there is scientific expertise, it tends to be in established industries. The governance of the proposed new entity to focus on emerging and advanced technologies is yet to be announced.

    Critical mass requires funding and strategy

    Scientists have been calling for a science investment target of 2% of GDP for a long time. It was once – roughly a decade ago – the average expenditure within the OECD; this has since increased to 2.7% of GDP, while New Zealand’s investment remains at 1.5%.

    The SSAG report repeatedly refers to the lack of funding, and it would be the obvious thing to see addressed in this year’s budget. But expectations have already been lowered by the government’s insistence there will be no new money.

    The report’s second high-level theme is the engagement of government with scientific strategy. Government announcements to date seem focused on attracting international investment through changes to tax settings and regulation. I would argue this is a matter of focusing on the wrapping rather than the present: the system itself needs to be attractive to investors.

    Creating a thriving research sector is also a matter of scale. International cooperation is one way for New Zealand to access efficiencies of scale. And work on building international partnerships is one area of positive intent. But we need to look at our connectivity nationally as well, and use investment to build this further.

    Countries with greater GDPs than New Zealand’s invest much more in research as a proportion of GDP. It means the size of these other countries’ scientific ecosystems – if measured by total expenditure – is three to four times New Zealand’s on a per capita basis.

    A matter of scale

    Per-capita scale matters because it tells us how easy it is for researchers to find someone else with the right skillset or necessary equipment. It tells us how likely it is for a student to find an expert in New Zealand to teach them, rather than needing to go overseas.

    And it tells us how quickly start-up companies in emerging technologies will be able to find the skilled employees they need. A thriving university system that attracts young people to develop the research skills needed by advanced technology companies is a key part of this challenge.

    The government’s science sector reform aims to increase its contribution to economic growth. But research contributes to economic growth when scientists can really “lean in” with confidence to commercialising and translating their science.

    That can’t happen if budgets don’t fund the critical mass, connectivity and resources to stimulate the transition to a thriving science system.

    Nicola Gaston receives funding from the Tertiary Education Commission as the Director of the MacDiarmid Institute for Advanced Materials and Nanotechnology. She also receives funding from the Marsden Fund. All research funding goes to the University of Auckland to pay the costs of the research she is employed to do.

    – ref. NZ Budget 2025: science investment must increase as a proportion of GDP for NZ to innovate and compete – https://theconversation.com/nz-budget-2025-science-investment-must-increase-as-a-proportion-of-gdp-for-nz-to-innovate-and-compete-255591

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Rep. Young Kim Bill to Support Small Business Passes Out of Committee

    Source: United States House of Representatives – Representative Young Kim (CA-39)

    Washington, DC – Today, the House Financial Services Committee passed the Improving Access to Small Business Information Act (H.R. 3351), a bipartisan bill led by Reps. Young Kim (CA-40) and Josh Gottheimer (NJ-05) to cut burdensome regulations hurting small business owners.  

    The Improving Access to Small Business Information Act would 

     amend the Securities Exchange Act of 1934 to specify that actions—like conducting field surveys—of the Advocate for Small Business Capital Formation are not a collection of information under the Paper Reduction Act (PRA).   

    Rep. Kim spoke in Committee in support of the bill. Read her remarks below or watch HERE.  

    Thank you, Chairman Hill and Ranking Member Waters, for holding this important markup.   

    I also want to thank my colleague and friend, Representative Gottheimer from New Jersey, for co-leading H.R. 3351 – the Improving Access to Small Business Information Act – with me.    

    My bill is simple. The legislation would specify that activities, like conducting field surveys, carried out by the Advocate for Small Business Capital Formation, are not a collection of information under the Paper Reduction Act (PRA). Currently, OMB’s approval process is prolonged and bureaucratic, which delays feedback collection from small businesses and their investors.    

    I am proud to represent Orange County which is home to over 100,000 small businesses. It takes grit, perseverance, and commitment to start with an idea and make it a reality. As a former small business owner myself, I remember often wondering if the government truly understood the way that its policies impacted small businesses.  

    Former Director of the Office of the Advocate, Martha Miller, said that “the Office went through a yearlong process just to collect registration information for our annual forum and ask a few basic questions to understand the audience attending”. Our regulations are restricting the government from understanding the needs of small businesses.   

    The SEC’s Office of the Advocate for Small Business Capital Formation is the primary office charged with advancing the interests of small businesses and their investors. With the ever-changing economic and regulatory environment, the Office must be able to adapt quickly to the needs of small businesses and gather timely feedback to improve policy. H.R. 3351 reduces red tape and streamlines access to tools that the Office can utilize to gather more effective and timely data. The better information that the Office can gather, the better the SEC can respond, and the better off our small businesses will be.   

    I urge my colleagues from both sides of the aisle to support H.R. 3351. With that, I yield the balance of my time.    

    MIL OSI USA News –

  • MIL-OSI United Kingdom: UK and Chile sign MoU on Cooperation in Gender Equality

    Source: United Kingdom – Executive Government & Departments

    World news story

    UK and Chile sign MoU on Cooperation in Gender Equality

    Signing of this MoU marks an important milestone in both countries’ commitment to a foreign policy agenda focused on women’s rights.

    Baroness Chapman, Minister for International Development, Latin America and the Caribbean and Chile’s Undersecretary of Foreign Affairs, Gloria de la Fuente González.

    As part of the visit of Chile’s Deputy Minister of Foreign Affairs Gloria de la Fuente to the United Kingdom, and the UK and Chile’s shared commitment to promoting human rights and gender equality, the UK and Chile signed a Memorandum of Understanding (MoU) on Cooperation in Gender Equality on 2 May. The MoU, with the aim of establishing sustained mutual cooperation in this area, was signed by the Minister for Latin America, Baroness Chapman, and the Deputy Minister of Foreign Affairs, Gloria de la Fuente, in London.

    The MoU, the first of its kind that the United Kingdom has signed, marks an important milestone in both countries’ commitment to a foreign policy agenda focused on women’s rights and reflects a shared determination to move towards more equitable, inclusive and respectful societies.

    Baroness Chapman, Minister for International Development, Latin America and the Caribbean, said:

    Chile is a vital partner in our shared efforts to promote equality for women and girls.

    The MoU establishes mechanisms for cooperation, political dialogue and best practices in key areas, such as the promotion of participation in international affairs and the political empowerment of women and girls.

    Louise de Sousa, British Ambassador to Chile, said:

    The signing of this memorandum strengthens bilateral ties between the United Kingdom and Chile and establishes cooperation to deliver equality for women and girls around the world.

    See the Memorandum of Understanding here:

    UK and Chile sign Memorandum of Understanding on Cooperation in Gender Equality

    ODT, 13.6 KB

    This file is in an OpenDocument format

    UK and Chile sign Memorandum of Understanding on Cooperation in Gender Equality

    PDF, 4.83 MB, 4 pages

    Further information

    If you want to know more about this matter, please contact the Communications Office.

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    Updates to this page

    Published 20 May 2025

    MIL OSI United Kingdom –