Category: Commerce

  • MIL-OSI: Abacus Refutes Misleading Balance Sheet Claims With Independent Third-Party Actuarial Valuation

    Source: GlobeNewswire (MIL-OSI)

    ORLANDO, Fla., June 10, 2025 (GLOBE NEWSWIRE) — Abacus Global Management, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL), a leader in the alternative asset management space, today provided the following response to last week’s false and misleading short attack.

    Our shareholders have been subjected to a false and uninformed short attack. The short seller’s report published on June 4, 2025 makes two key allegations: first, that Abacus relies too heavily on a single life expectancy provider (Lapetus Solutions), and second, that this reliance has significantly inflated our balance sheet valuation. Both are incorrect.

    Abacus remains resolute in our process, valuation methodology, and the benefit we provide to both policyholders and investors. Our market coverage analysts share this sentiment as well, and have supported our process with published statements and maintained buy, outperform, or overweight ratings on our stock:

    • Autonomous/Bernstein: “Abacus Global Management – Morpheus Misleading,” June 4, 2025 (with follow up on June 9, 2025)
      • Rating: Outperform
      • Price Target: $12
    • BRiley: “Abacus Global Management – Take Advantage of Oversold Position,” June 5, 2025
      • Rating: Buy
      • Price Target: $15
    • Piper Sandler: “Shares sink on short report – stock reaction overdone and Abacus responds,” June 4, 2025
      • Rating: Overweight
      • Price Target: $12
    • TD Bank: “ABL’s model, reliant on direct originations and a short holding period, would seem to argue against overvaluation of policies.” June 4, 2025 (with follow up on June 5, 2025)
      • Rating: Buy
      • Price Target: $14
    • Northland: “Abacus Global Management (ABL) Trends in Fair Value, Gains and Other Stuff Tell Positive Story,” June 5, 2025
      • Rating: Outperform
      • Price Target: $13.50

    In addition to research analyst support, our auditor Grant Thornton has also affirmed our mark-to-market valuation approach for the policies we hold on our balance sheet, and has not seen any reason to revise that opinion since the publication of the short report. It is important to note that the report contained a misleading statement attributed to a Grant Thornton UK CEO. The UK-based company is a separate legal entity from our auditor, Grant Thornton US, and each firm operates independently and manages its own affairs.

    Executive Summary

    Section 1: Third-Party Analysis Confirms that Lapetus Is Not a Meaningful Input to Our Valuation Model

    Section 2: Mark-to-Market Valuation Depends On Much More Than Life Expectancy

    Section 3: The Most Recent Market Transactions Confirm the Accuracy of Our Valuation Model

    Section 4: Shareholder Commitment to Success of the Business and Anticipated Additions to Russell 2000 and 3000 in August 2025

    Section 1: Independent Third-Party Actuarial Validation

    A core claim of the short report is that “Abacus’ reliance on Lapetus to value its portfolio presents a material risk to the $446 million in claimed life settlements on its books as of Q1 2025.” This is wrong in so many ways, most importantly that Abacus does not “rel[y] on Lapetus to value its portfolio.” And to prove it, Abacus engaged Lewis and Ellis1, a third-party actuarial firm, to review the entire policy balance sheet as stated in our Q1 2025 10-Q filing (over 700 policies), removing all Lapetus life expectancy estimates from the analysis.   

    For over 55 years, Lewis and Ellis has maintained a sterling reputation and client list with testimonials from organizations including the Ohio Department of Insurance, Arkansas Insurance Department, Maryland Insurance Administration, Americo, Pacific Guardian Life, American Life, American Fidelity, Michigan Department of Insurance, Oklahoma Department of Insurance, and many others.  

    To produce the valuation, Lewis and Ellis has utilized a discount rate methodology to calculate the net present value of the portfolio. Premium streams, life expectancies (not including Lapetus Solutions), face values of policies and discount rates are all inputs for their analysis. The professionals responsible for producing this valuation are members and meet Qualification Standards of the American Academy of Actuaries.

    The new Lewis and Ellis valuation concurred with our prior valuation, resulting in a total policy valuation of $449 million as of March 31, 2025. The valuation provider aligned with a discount rate and range of ±2% as disclosed in the Q1 2025 10-Q filing. The Lewis and Ellis valuation of $449 million falls within a 1% margin of error from our stated valuation of $446 million.

    Section 2: The Short Report Confuses Individualized Pricing with Portfolio-Wide Valuations, and Misstates the Relevance of Life Expectancy to Each

    Abacus Global Management has developed a sophisticated valuation framework that optimizes for different business objectives at each stage of the asset lifecycle. This dual approach uses life expectancy for consumer-facing transactions while employing market-based valuation for balance sheet management. Life expectancy valuation models assume the value of the asset held to maturity, and thus calculating the maturity date is critically important. On the other hand, the market approach is based on the price of policy sales between informed, intelligent and willing buyers, and willing sellers.

    Both approaches have merit. When acquiring policies from consumers, Abacus uses life expectancy estimates to ensure fair pricing, which results in Abacus paying consumers an average of 20.4% of policy face value in 20232, prioritizing fair consumer outcomes. But once policies enter Abacus’s trading portfolio, the company shifts to a market-based valuation system that prioritizes actual market results.

    Abacus values its balance sheet using the mark-to-market model. Therefore, the blanket claim in the short report that “The Fair Value Of Life Settlements Depends On Accurately Predicting Life Expectancy” not only collapses the two distinct valuation approaches, it leads the reader to conclude that Abacus values its balance sheet primarily based on life expectancy data. But this ignores the clear description of the Abacus valuation approach in its Consolidated Financial Statements, included in the Company’s most recent 10-K: “The Company determines fair value based on assumptions that market participants would use in pricing an asset or a liability in the principal or most advantageous market.”

    In accordance with U.S. GAAP, Abacus’ balance sheet valuation model estimates the price it would receive on the sale of its life settlement policies based on applying data it has from actual policy trading activity, and then applies this and other data to inform its assumptions of what a buyer would pay if it used primarily a discounted cash flow and life expectancy analysis, which results in the reported discount rate. As such our balance sheet valuation model is not driven solely by life expectancy estimates or forecasted discount rates3. Our calculation of fair value for purposes of balance sheet valuation results from data that we observe in the market for life settlement policies, drawing on our experience of prior deals with our trading partners, institutional and representatives of a large, growing market, including the largest private credit asset managers, global alternative asset managers, family offices, insurance companies, and reinsurers.

    Consumer Purchase Stage: Life Expectancy Optimization

    Why This Hybrid Approach Works

    Traditional life settlement models suffer from a fundamental mismatch: they use the same methodology (life expectancy projections and selected discount rates) for both consumer fairness and active trading portfolio accuracy. Abacus recognizes these require different tools:

    • Consumer Transactions Need Predictive Models: Life expectancy estimates help ensure fair pricing when purchasing from consumers who deserve transparent, actuarially-sound offers.
    • Trading Portfolios Need Market Reality: Active trading strategies require balance sheet valuations based on actual transaction history, not theoretical projections that can shift with model updates.

    This dual methodology perfectly supports Abacus’s core strategy as an active life settlement market-maker:

    • High Portfolio Turnover: Target balance sheet turn of ~2x annually, making market-based marks more relevant than hold-to-maturity projections
    • Daily Trading Activity: Real-time valuation accuracy matters more than long-term actuarial estimates for a short-term strategy
    • Revenue Structure: Unrealized gains require marks that reflect actual selling capability

    The Strategic Result

    Abacus has solved the life settlement industry’s core valuation dilemma by recognizing that consumer fairness and active balance sheet accuracy require different approaches. This isn’t a compromise—it’s an optimization that delivers better outcomes at both stages.

    Section 3: The Most Recent Market Transactions Confirms the Accuracy of the Company’s Fair Value Approach

    Abacus operates an active life settlement trading business, continuously acquiring and disposing of life insurance policies to optimize balance sheet returns and maintain target return on equity metrics. This means it is ideally positioned to provide a check on its own fair value accounting. And our actual realized results support our valuation. This quarter, Abacus has sold polices at prices that match its mark-to-market approach. In Q2, through June 2nd, Abacus sold 226 policies for a total $141.4 million. As of March 31, 2025, those sold policies had an estimated balance sheet value of $139.1 million. Not only was Abacus able to crystalize its mark, but it has also realized an incremental gain of 1.65%.

    As Abacus is continuously in the market buying and selling policies, at any given time, a portion of its revenue will be unrealized if it is still holding policies it hasn’t sold. Further, if Abacus continues to grow its portfolio by recycling the capital from policy sales, cash flow from operating activities will likely be negative. This may change in the future.

    Section 4: Executives and Shareholders Are Aligned on Creating the Brightest Possible Future for Abacus

    We appreciate the investor concerns around the coming expiration of the share lock-up, which the short report described as an opportunity for “cashing out.” Jay Jackson, Sean McNealy, Scott Kirby, and Matt Ganovsky collectively own approximately 46% of the outstanding shares. They accepted two-year restricted lock-ups at the time of the deSPAC transaction. This lengthy lock-up period was double the average of any share lock-up compared to any other company, both IPO and deSPAC. The lock-up expires on July 3, 2025. The restriction period ends during a blackout period which will continue until our post-earnings release which is expected in August.

    The expiration of the lock-up period does not mean that the founders and senior management are about to cut and run. Just the opposite: these large shareholders are looking forward to the expiration of the lockup not so they can “cash out,” but so they can take the company to its next milestone.

    These shareholders and the Board understand that the Russell 2000 and Russell 3000 now require the expiration of the longest lock-up period before a stock can be listed as part of their indices. Abacus believes the positive impact of index inclusion would be beneficial to shareholders. If Abacus maintains the current course with respect to the lock-up expiration, we expect to be added to these indices in August 2025.

    Nonetheless, should these large block holders wish to sell shares in the future, we are committed to working closely with our shareholders and institutional investment partners on a purposeful, transparent, and organized sale of shares if one were to occur. We have committed over two decades of service to this company, and our intent is to recognize the highest valuation possible. Our 2025 Board-approved compensation is heavily equity-based and incentivized to increase value to our shareholders through both increased revenue and adjusted net income, as well as company market capitalization.

    Conclusion

    In summary, Abacus strongly refutes the misleading and incorrect claims made by the short seller. We are supported by outside market research analysts, third-party actuarial firms, our auditor, and our transparent accounting methodology used in fair market reporting driven by mark-to-market valuations.

    Abacus is a leading alternative asset manager, market maker, technology company, and growing private wealth manager. We will not allow this distraction to slow our growth and expansion.

    Forward-Looking Statements

    All statements in this press release (and oral statements made regarding the subjects of this press release) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors that could cause actual results to differ materially from such statements, many of which are outside the control of Abacus. Forward-looking information includes, but is not limited to, statements regarding: Abacus’s financial and operational outlook; Abacus’s operational and financial strategies, including planned growth initiatives and the benefits thereof, Abacus’s ability to successfully effect those strategies, and the expected results therefrom. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “expect,” ‎‎”intend,” “anticipate,” “goals,” “prospects,” “will,” “would,” “will continue,” “will likely result,” and similar expressions (including the negative versions of such words or expressions).

    While Abacus believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. The factors that could cause results to differ materially from those indicated by such forward-looking statements include, but are not limited to: the ‎fact that Abacus’s loss reserves are bases on estimates and may be inadequate to cover ‎its actual losses; the failure to properly price Abacus’s insurance policies; the ‎geographic concentration of Abacus’s business; the cyclical nature of Abacus’s industry; the ‎impact of regulation on Abacus’s business; the effects of competition on Abacus’s business; the failure of ‎Abacus’s relationships with independent agencies; the failure to meet Abacus’s investment ‎objectives; the inability to raise capital on favorable terms or at all; the ‎effects of acts of terrorism; and the effectiveness of Abacus’s control environment, including the identification of control deficiencies.

    These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties set forth in documents filed by Abacus with ‎the U.S. Securities and Exchange Commission from time to time, including the Annual ‎Report on Form 10-K and Quarterly Reports on Form 10-Q and subsequent ‎periodic reports. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Abacus cautions you not to place undue reliance on the ‎forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Abacus assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Abacus does not give any assurance that it will achieve its expectations.

    About Abacus

    Abacus Global Management (NASDAQ: ABL) is a leading financial services company specializing in alternative asset management, data-driven wealth solutions, technology innovations, and institutional services. With a focus on longevity-based assets and personalized financial planning, Abacus leverages proprietary data analytics and decades of industry expertise to deliver innovative solutions that optimize financial outcomes for individuals and institutions worldwide.

    Contacts:
    Investor Relations
    Robert F. Phillips – SVP Investor Relations and Corporate Affairs
    rob@abacusgm.com
    (321) 290-1198

    David Jackson – Director of IR/Capital Markets
    david@abacusgm.com
    (321) 299-0716

    Abacus Global Management Public Relations
    press@abacusgm.com

    ____________________

    1 Since going public, Abacus has paid Lewis and Ellis a total of $70,105, inclusive of this valuation engagement.
    2 Data as per The Deal.
    3 Discount rates are an output imputed from our valuations, rather than input for determining valuations.

    The MIL Network

  • MIL-OSI: iPower and Borg Rise U.S. Enter Strategic Partnership to Expand Social Media Commerce

    Source: GlobeNewswire (MIL-OSI)

    RANCHO CUCAMONGA, Calif., June 10, 2025 (GLOBE NEWSWIRE) — iPower Inc. (Nasdaq: IPW) (“iPower” or the “Company”), a tech and data-driven eCommerce service provider and online retailer, today announced a strategic partnership with Borg Rise U.S., a dynamic and fast-growing player in digital content and social media commerce. This partnership marks a key milestone in iPower’s strategy to expand its omnichannel presence through influencer-driven and content-based sales models across platforms like TikTok, Instagram, and YouTube.

    Borg Rise U.S., with its strong network of content creators, livestreaming infrastructure, and experience in cross-border digital commerce, will collaborate with iPower to build and scale innovative social commerce campaigns. These campaigns will bridge content and conversion, enabling more direct, engaging, and high-converting consumer experiences.

    “We’re excited to team up with Borg Rise U.S. to unlock the potential of social-driven retail,” said Lawrence Tan, CEO of iPower. “This collaboration strengthens our ability to connect brands with audiences where they spend their time and attention—on social media—by turning inspiration into seamless purchasing.”

    Under this partnership, iPower and Borg Rise U.S. will work together to:

    • Co-develop influencer campaigns, live selling initiatives, and digital storefronts
    • Expand iPower’s SuperSuite service offerings into social commerce enablement
    • Leverage content performance data to enhance targeting and personalization
    • Onboard emerging brands and help them scale through creator ecosystems

    This strategic alliance is expected to further iPower’s mission to empower sellers and entrepreneurs with the tools, data, and distribution channels needed to thrive in today’s evolving digital retail landscape.

    About iPower Inc.

    iPower Inc. is a tech and data-driven online retailer, as well as a provider of value-added eCommerce services for third-party products and brands. iPower’s capabilities include a full spectrum of online channels, robust fulfillment capacity, a nationwide network of warehouses, competitive last-mile delivery partners, and a differentiated business intelligence platform. For more information, visit www.meetipower.com.

    About Borg Rise U.S.

    Borg Rise U.S. is a next-generation digital commerce company focused on livestreaming, influencer marketing, and cross-border social commerce. With strengths in content development, platform operations, and community-driven conversion, Borg Rise U.S. empowers brands to unlock growth through immersive digital experiences.

    Forward-Looking Statements

    All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that iPower believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. iPower undertakes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as may be required by law. Although iPower believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and iPower cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results and performance in iPower’s most recent  Report on Form 10-K and in its other SEC filings.

    Investor Relations Contact
    IPW.IR@meetipower.com

    The MIL Network

  • MIL-OSI: It’s a three-peat! Questrade leads annual ranking as MoneySense’s Best Online Broker in Canada again for 2025

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 10, 2025 (GLOBE NEWSWIRE) — Questrade (www.questrade.com) — Canada’s #1 rated* online brokerage — is honoured to share that it has retained the title of MoneySense’s Best Online Broker in Canada for 2025, landing atop the ranking for a third consecutive year. The annual MoneySense review, conducted in partnership with research firm Surviscor, assesses and compares Canadian online brokerages across four pillars of investor experience including desktop and mobile platforms, service efficacy, and commissions and fees.

    “Reclaiming the title of Best Online Broker in Canada adds to an already eventful year for Questrade with our move to offer $0 commission trading alongside our introduction of real-time fractional trading and Questrade Plus,” said Rob Galaski, Chief Journey Officer, Questrade. “This recognition stands as another powerful acknowledgement of our team’s work to deliver Canada’s most complete and compelling investment offering, furthering our mission to help all Canadians become much more financially successful and secure.”

    In another standout year where Questrade outperformed its peers across many of the investor experience categories, it was applauded for its surprise move to introduce $0 commission trading, as well as its reliable customer service experience, industry-leading digital investment platforms, and ongoing commitment to investor education.

    “We’re proud to once again name Questrade as MoneySense’s Best Online Broker in Canada for 2025,” said Natasha Macmillan, Senior Business Director, MoneySense. “Questrade leads the way with a robust, user-focused platform that prioritizes accessibility, innovation, and exceptional service, delivering genuine value to investors at every experience level. Its unwavering commitment to enhancing the investor experience, education, and ongoing support truly sets Questrade apart from the competition.”

    Adding to the repeat recognition, MoneySense’s 2025 review also named Questrade as best broker for new and seasoned investors, $0 commission trading, user experience, and account experience, highlighting the online brokerage’s attention to the evolving needs and preferences of active and passive investors alike.

    For a full breakdown of the rankings and explanation of all the criteria used, please visit the following link: https://www.moneysense.ca/save/investing/best-online-brokers-in-canada/.

    About Questrade

    Questrade, Inc. (“Questrade”) is changing the Canadian financial services industry by leveraging technology to lower fees while providing a viable alternative to traditional financial investment options, thereby allowing Canadians to Keep More of their Money. As a leader and innovator in financial services, Questrade is a trusted ally that advocates for consumers, focused on improving value. With 25 years of challenging the status quo as one of Canada’s leading, non-bank online brokerages and over $50 billion in assets under administration, Questrade and its affiliates provide financial products and services, including securities and foreign currency investments. For more information, visit www.questrade.com or on Facebook and X (formerly Twitter) @Questrade. Questrade, Inc. is a registered investment dealer, a member of the Canadian Investment Regulatory Organization (CIRO), and a member of the Canadian Investor Protection Fund (CIPF). Questrade is a wholly owned subsidiary of Questrade Financial Group Inc.

    *MoneySense 2025

    Media Contact

    For more information, please contact J.R Gabriel, Questrade Financial Group at: jgabriel@questrade.com.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/620d1e9c-156f-4ff2-a10f-86b40da8f80a

    The MIL Network

  • MIL-OSI: Subscription brand executives ditch digital ad spend for new business models

    Source: GlobeNewswire (MIL-OSI)

    CAMBRIDGE, United Kingdom, June 10, 2025 (GLOBE NEWSWIRE) — Subscription brands are pulling away from digital advertising. According to a new industry-wide study from Bango (AIM: BGO), 48% of subscription leaders report diminishing returns from traditional direct acquisition methods like paid search and paid social media. A further 53% warn that direct marketing is becoming “unsustainable” as customer acquisition costs spiral.

    The report — Gravity Shift: Subscribers, bundles, and the acquisition black hole — captures responses from more than 200 senior executives at subscription-based businesses, spanning sectors from AI productivity apps to streaming services, retail, and finance. It reveals a stark reality: the performance marketing model that powered subscription growth over the last decade is under serious strain.

    “Direct marketing used to be a reliable engine for growth. Now it’s a black hole,” said Anil Malhotra, CMO at Bango. “When nearly half your industry says ROI is vanishing, alarm bells should be ringing. It’s time to rethink how subscriptions go to market.”

    Key findings:

    • 88% of subscription brands expect direct acquisition costs to rise in 2025, with nearly one in three forecasting increases of over 25%.
    • 80% are cutting back on at least one paid channel, including:
      • Paid search ads (33%)
      • Display advertising (30%)
      • Paid social ads (29%)
    • 46% of leaders describe direct marketing spend as a “black hole” for their budgets.
    • 53% believe direct channels are no longer a sustainable path to growth.

    What’s driving the pullback?

    Executives cited rising ad costs, algorithm changes, data privacy limits, and subscriber fatigue as the most pressing challenges. Compounding this, many brands report hitting the ceiling on their ability to profitably scale one-to-one acquisition.

    “Netflix spends nearly $3 billion a year on marketing. That’s simply not feasible for the rest of the market,” said Giles Tongue, subscription expert at Bango. “Most brands don’t have the scale to absorb that kind of spend, especially when the returns are eroding. Direct-to-consumer marketing is hitting diminishing returns, and leaders are now looking for smarter, more sustainable ways to grow.”

    Where the money is going

    Rather than doubling down, brands are reallocating budget toward indirect acquisition strategies, such as bundling, partnerships, and aggregator platforms. According to the report:

    • 82% of brands plan to increase investment in indirect channels this year.
    • 90% are already bundling — or plan to — in 2025.
    • 72% say indirect routes bring in higher quality subscribers than direct channels.

    Among the fastest-growing channels: partnerships with telcos, banks, device platforms, and social media platforms. Over a quarter of brands (27%) are joining “Super Bundling” platforms like Verizon myPlan and myHome to reach new audiences without high upfront acquisition costs.

    Bango’s recent consumer data also supports the shift: 62% of U.S. subscribers would prefer to manage multiple subscriptions through a single bundle, and 44% already get at least one subscription free as part of a packaged deal. Among younger users, these numbers are even higher — 55% of 18–24-year-olds now receive a bundled subscription they previously paid for directly.

    Tongue added: “We’re seeing a clear shift from the subscription economy to the bundle economy. Consumers don’t want to manage ten separate subscriptions — they want value, convenience, and flexibility. The brands that win in this next phase will be the ones that package their offerings in ways that reflect how people actually want to buy.”

    Implications beyond the subscription market

    The findings come at a critical time for digital advertising giants like Google, Meta, and TikTok — whose earnings rely heavily on performance ad spend. If subscription leaders are a bellwether, Bango’s findings suggest we could be entering a post-performance marketing era, where distribution partnerships replace ad impressions as the metric that matters.

    Bango expects the pivot to indirect acquisition and bundling to drive a wave of commercial opportunity for its Digital Vending Machine® (DVM™) platform. Bango’s DVM currently powers many of the world’s leading Super Bundling platforms, including Verizon myPlan and myHome, and supports acquisition for major services such as Netflix, Amazon Prime, Disney+, Uber, YouTube, and Xbox. With 90% of subscription leaders now investing in bundling, the DVM is well placed to capitalize on the wider industry adoption and accelerated growth of indirect marketing through 2025 and beyond.

    View the full report at Gravity Shift: Subscribers, bundles, and the acquisition black hole.

    About Bango

    Bango enables content providers to reach more paying customers through global partnerships. Bango revolutionized the monetization of digital content and services, by opening-up online payments to mobile phone users worldwide. Today, the Digital Vending Machine® is driving the rapid growth of the subscription economy, powering choice and control for subscribers.

    The world’s largest content providers, including Amazon, Google and Microsoft, trust Bango technology to reach subscribers everywhere.

    Bango, where people subscribe. For more information, visit www.bango.com

    Media contact

    For US enquiries, contact SamsonPR: bango@samsonpr.com
    For all other enquiries, contact Wildfire: bango@wildfirepr.com

    The MIL Network

  • MIL-OSI: GraniteShares 2x Long MSTR Daily ETF (MSTP), and 2x Short MSTR Daily ETF (MSDD) Launch.

    Source: GlobeNewswire (MIL-OSI)

    New York, June 10, 2025 (GLOBE NEWSWIRE) — GraniteShares, a provider of exchange traded funds (ETFs), today announced the launch of two new leveraged single-stock ETFs: GraniteShares 2x Long MSTR Daily ETF (NASDAQ: MSTP), and GraniteShares 2x Short MSTR Daily ETF (NASDAQ: MSDD).

    An investment in the ETFs provides investors daily leveraged & short exposure to the underlying stock: Strategy (MSTR).

    GraniteShares’s leveraged ETFs seek daily investment results, before fees and expenses, that correspond to 2 times (200%) the daily percentage change of the respective common stocks. GraniteShares’s short ETFs seek daily investment results, before fees and expenses, that correspond to -2 times (-200%) the daily percentage change of the respective common stocks. These funds are designed for sophisticated investors looking to capitalize on short-term movements in the underlying stocks.

    High-Conviction Exposure to the Technology Company

    • MicroStrategy Incorporated, based in Tysons Corner, Virginia, delivers AI-powered enterprise analytics software and services to clients worldwide across various industries. Known as Strategy, the company offers tools like Strategy One and HyperIntelligence to provide actionable insights and seamless data access. Alongside its analytics solutions, MicroStrategy has adopted Bitcoin as its primary treasury reserve asset, accumulating it through financing and offering investors exposure to Bitcoin via its securities.

    Designed for Tactical Traders

    The new leveraged ETFs provide traders with a tool to gain leveraged exposure to these stocks, making them a potential consideration for those looking to execute short-term tactical trades.

    “We continue to expand our suite of leveraged ETFs to meet the demand for high-conviction trading opportunities,” said Will Rhind, Founder of GraniteShares. “With the launch of MSTP and MSDD, we are providing investors with targeted tools to access some of the most exciting companies in AI, cloud computing, and Consumer Discretionary.”

    For more information on the new GraniteShares leveraged ETFs, read the company’s prospectus.

    About GraniteShares

    GraniteShares is an entrepreneurial ETF provider focused on high-conviction investment solutions. The firm offers a range of innovative ETFs spanning leveraged, inverse, and high-yield strategies, empowering investors with differentiated tools for portfolio construction. Founded in 2016, GraniteShares has grown rapidly by delivering cutting-edge solutions tailored to modern market needs. For more information, visit www.graniteshares.com.

    Media Contact:
    GraniteShares Inc.
    Attn: Media Relations
    222 Broadway, 21st Floor
    New York, NY 10038
    844-476-8747
    info@graniteshares.com

    RISK FACTORS AND IMPORTANT INFORMATION

    This material must be preceded or accompanied by a Prospectus. Carefully consider the Fund’s investment objectives risk factors, charges and expenses before investing. Please read the prospectus before investing.

    The Fund is recently organized June 09,2025. As a result, prospective investors do not have a track record or history on which to base their investment decisions. There can be no assurance that the Funds will grow to or maintain an economically viable size.

    The Fund is not suitable for all investors. The investment program of the funds is speculative, entails substantial risks and include asset classes and investment techniques not employed by most ETFs and mutual funds. Investments in the ETFs are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged (2X) investment results, understand the risks associated with the use of leverage and are willing to monitor their portfolios frequently. For periods longer than a single day, the Fund will lose money if the Underlying Stock’s performance is flat, and it is possible that the Fund will lose money even if the Underlying Stock’s performance increases over a period longer than a single day. An investor could lose the full principal value of his/her investment within a single day.

    The Fund seeks daily leveraged investment results and are intended to be used as short-term trading vehicles. This Fund attempts to provide daily investment results that correspond to the respective long leveraged multiple of the performance of its underlying stock (a Leverage Long Fund).

    Investors should note that such Leverage Long Fund pursues daily leveraged investment objectives, which means that the Fund is riskier than alternatives that do not use leverage because the Fund magnifies the performance of its underlying stock. The volatility of the underlying security may affect a Funds’ return as much as, or more than, the return of the underlying security.

    Because of daily rebalancing and the compounding of each day’s return over time, the return of the Fund for periods longer than a single day will be the result of each day’s returns compounded over the period, which will very likely differ from 200% of the return of the Underlying Stock over the same period. The Fund will lose money if the Underlying Stock’s performance is flat over time, and as a result of daily rebalancing, the Underlying Stock volatility and the effects of compounding, it is even possible that the Fund will lose money over time while the Underlying Stock’s performance increases over a period longer than a single day.

    Shares are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. There can be no guarantee that an active trading market for ETF shares will develop or be maintained, or that their listing will continue or remain unchanged. Buying or selling ETF shares on an exchange may require the payment of brokerage commissions and frequent trading may incur brokerage costs that detract significantly from investment returns.

    An investment in the Fund involves risk, including the possible loss of principal. The Fund is non-diversified and includes risks associated with the Fund concentrating its investments in a particular industry, sector, or geographic region which can result in increased volatility. The use of derivatives such as futures contracts and swaps are subject to market risks that may cause their price to fluctuate over time. Risks of the Fund include Effects of Compounding and Market Volatility Risk, Leverage Risk, Market Risk, Counterparty Risk, Rebalancing Risk, Intra-Day Investment Risk, Other Investment Companies (including ETFs) Risk, and risks specific to the securities of the Underlying Stock and the sector in which it operates. These and other risks can be found in the prospectus.

    This information is not an offer to sell or a solicitation of an offer to buy shares of any Funds to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Please consult your tax advisor about the tax consequences of an investment in Fund shares, including the possible application of foreign, state, and local tax laws. You could lose money by investing in the ETFs. There can be no assurance that the investment objective of the Funds will be achieved. None of the Funds should be relied upon as a complete investment program.

    The Fund is distributed by ALPS Distributors, Inc, which is not affiliated with GraniteShares or any of its affiliates ©2024 GraniteShares Inc. All rights reserved. GraniteShares, GraniteShares Trusts, and the GraniteShares logo are registered and unregistered trademarks of GraniteShares Inc., in the United States and elsewhere. All other marks are the property of their respective owners.

    The MIL Network

  • MIL-OSI: Mawer Investment Management Announces Executive Leadership Appointments

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, June 10, 2025 (GLOBE NEWSWIRE) — Mawer Investment Management Ltd. (Mawer) announced today the following executive leadership updates:

    Bruce Geddes, CFA, Appointed Chief Executive Officer

    Mawer is pleased to announce the appointment of Bruce Geddes as Chief Executive Officer (CEO), effective July 2, 2025.

    Mr. Geddes brings over 30 years of progressive leadership in capital markets and investment management to Mawer. Most recently, he spent 16 years with RBC Global Asset Management as President, PH&N Canadian Institutional. Renowned for his client-centric approach, talent management, and disciplined execution, Mr. Geddes has led high-performing teams, consistently achieving top industry recognition across the Canadian and North American markets.

    “We are thrilled to welcome Bruce Geddes as Mawer’s new CEO,” says Craig Senyk, Board Chair. “Bruce’s proven leadership, deep industry expertise, and commitment to clients aligns directly with our strategic vision and values. I am confident that under his guidance, Mawer will continue to deliver exceptional results for our clients, employees, and community.”

    Prior to RBC, Mr. Geddes held senior roles at TD Asset Management, where he was a key contributor to the growth of the Canadian Institutional Fixed Income franchise, and at RBC Capital Markets as a derivatives trader. He holds a CFA designation and a Bachelor of Commerce in Finance from Carleton University. He is also recognized for his community leadership, notably as part of a top fundraising team for cancer research and other charitable initiatives.

    “I’ve followed Mawer’s journey for some time and I’m excited for the opportunity to join this remarkable firm,” says Geddes. “I look forward to collaborating closely with the Board and the talented team to continue the firm’s legacy of long-term investment excellence, commitment to clients, and doing the right thing, always.”

    Jim Hall, CFA, Appointed Chief Investment Officer

    Mawer is pleased to announce that Jim Hall has been appointed Chief Investment Officer (CIO), effective July 2, 2025. Christian Deckart will step down from the CIO role to focus his full attention as lead portfolio manager for the Mawer global equity strategy. As part of the transition, Mr. Hall will be stepping down from his role as President and as a member of the firm’s Executive Team and Board of Directors to focus directly on his role as CIO.

    “It’s been a great honour to serve this term in the President role,” said Mr. Hall. “The Executive Team has done outstanding work during this period and is in great shape to carry on from here. I’m delighted to be picking back up the CIO position full-time, a role that I love.”

    Mr. Hall brings extensive portfolio management experience as lead manager of the Mawer EAFE large cap strategy and previously as portfolio manager for the Mawer Canadian equity, global equity, and international equity strategies. Since joining Mawer in 1997, he has played a key role in shaping the firm’s investment philosophy and process, including serving as Chief Investment Officer from 2004 to 2018. Mr. Hall has served on the Board since 2000, chairing it from 2008 to 2023.

    “Jim has been an integral part of Mawer’s growth and success for almost three decades. His deep investment expertise, steadfast commitment to the firm, and ability to bring out the best in those around him have set a standard for excellence at Mawer,” says Craig Senyk, Board Chair. “We are grateful for his leadership as President and Board member, and we look forward to his continued impact as Chief Investment Officer.”

    About Mawer Investment Management Ltd.
    Founded in 1974, Mawer is an independent investment firm managing portfolios for a broad range of foundations and not-for-profit organizations, pension plans, strategic alliances, and individual investors. For more information, visit Mawer at www.mawer.com.

    The MIL Network

  • MIL-OSI: Only 11% of Teams Have Scaled AI: Order.co’s 2025 Benchmark Report Reveals Urgent Gap in Procurement, Finance, and Ops

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 10, 2025 (GLOBE NEWSWIRE) — Order.co, the world’s leading B2B Ecommerce Platform, today announced its release of an exclusive report, The State of AI in Procurement, Finance & Operations: 2025 Benchmark Report, detailing how back-office teams leverage AI based on a survey of 100+ professionals in procurement, finance, and accounting roles. Participants ranged from individual contributors to C-Suite leaders across a diverse range of industries, including retail, property management, health and wellness, nonprofits, and more.

    The report breaks down the impressive results that early AI adopters have already achieved, analyzes the most common barriers to adoption, and offers a 7-stage AI adoption maturity model to help businesses succeed in their AI initiatives.

    “AI transformation is happening in the back office faster than people might realize,” said Matt Garippa, Chief Business Officer and Co-founder at Order.co. “Whether teams are just getting started or are well into their AI adoption journey, understanding real-world use cases can help them move faster and avoid costly missteps. The businesses that will come out ahead are the ones taking action now, not waiting on the sidelines.”

    Key findings from the report:

    • 70% of organizations are actively exploring AI, yet only 11% have fully implemented it
    • Early AI adopters report transformational results:
      • Up to 50% cost savings
      • 31–50% faster workflows
      • 75% fewer procurement errors
    • 91.7% of procurement teams are leveraging or planning to use AI for advanced spend analysis
    • 80% of finance teams use AI for fraud detection and anomaly monitoring
    • 83% of operations teams report AI as essential for process optimization and workflow automation

    The report also features direct quotes from survey respondents, offering firsthand insights into how they plan to leverage AI in their specific roles. One Billing & Supplies Coordinator at a Law Firm shared, “I’m hopeful that with Generative AI, we’ll be able to assess costs more quickly and develop a better spending plan with improved item organization.” From a procurement and operations perspective, a Senior Director of Operations in the Retail Industry noted, “AI-driven analytics will likely enhance our ability to forecast demand more accurately, optimize supply chains, and even predict maintenance needs for physical products.”

    Download the report to access all findings and find out how to unlock measurable gains in speed, accuracy, and strategic decision-making with AI: https://get.order.co/content/ai-benchmark-report/

    About Order.co

    Order.co simplifies business buying by combining the ease of online shopping with the sophistication of world-class purchase order and AP automation. The result? Businesses cut costs and complexity with every order.

    Hundreds of companies, like WeWork and Hugo Boss, leverage Order.co to centralize purchase-to-pay workflows, scale operations, and gain total control over spending – saving an average of 5% on products. Founded in 2016 and headquartered in New York City, Order.co has raised $50M in funding from industry-leading investors like MIT, Stage 2 Capital, Rally Ventures, 645 Ventures, and more.

    Media Contact

    Allison Reich
    Senior Manager of Brand, Content & Enablement
    Allison.reich@order.co

    The MIL Network

  • MIL-OSI United Kingdom: Peter Kyle’s speech at London Tech Week 2025

    Source: United Kingdom – Executive Government & Departments 2

    Speech

    Peter Kyle’s speech at London Tech Week 2025

    A speech delivered by Secretary of State for Science, Innovation, and Technology, Peter Kyle, at London Tech Week on Tuesday 11 June 2025.

    Last Thursday, I was in Salford for a CyberFirst event.

    Hundreds of girls from across Greater Manchester were there. 

    Some of them were busy playing e-sports, hidden behind VR goggles.

    Others were programming robots – or learning how to pitch a tech business.

    But all of them said the same thing.

    They were excited for the future they were starting to see. And what it meant for them

    What really struck me was their ambition, hope and sheer enthusiasm.

    It was as humbling as it was inspirational: but it made me think.

    In government, we spend so much time talking about risk.

    What happens if reform goes wrong?

    Who is responsible – and who do we hold to account?

    We often talk about making the state feel more like a start-up.

    Less slow and static.

    More agile and active.

    But we have unique obligations to our citizens that we simply cannot ignore.

    Duties to defend our national security and protect public health.

    To make our streets safer and borders stronger.

    It is understandable that these obligations might make us more cautious about change.

    But, when countries or institutions become preoccupied with avoiding risk, they risk resisting innovation.

    They might delay reform.

    They might grasp too tightly to the here and now…

    …and lose sight of the possibilities tomorrow could bring.

    When this happens, caution slides into complacency.

    Incrementalism gives way to inertia.

    Worrying about getting every aspect of change right becomes fear of change itself.

    And fearing the challenge of change is the fastest route for a great nation to become mired in stagnation.

    When I spoke at London Tech Week last year, that’s what I saw.

    Our citizens, they wanted change.

    The sector wanted change.

    But a refusal to face up to the risks change brings – or face down resistance to it…

    …meant that government after government were stuck with a model we all knew was failing.

    Suddenly, the real risk wasn’t trying something new. 

    It was doing nothing at all.

    People waited months for hospital appointments.

    Young people couldn’t find a good job in the town they called home.

    Businesses unable to innovate, unable to invest, or unable to grow.

    Stifled by a regulatory regime that was stuck in the past.

    Unsure about whether to waste time applying for government contracts – because they always seemed to favour the same old suspects.

    Undecided about whether to stay here in the UK – because they just couldn’t access the capital they needed to grow.

    Too often in the last decade, Britain felt like a country short on ambition, long on apathy.

    Where optimism shrank in the face of opposition.

    On this stage last year, I said it was time for a change.

    Time to seize the power of technology.

    And wield it to deliver us towards a better future. 

    That is exactly what we’ve done.

    I said we’d tear up planning rules.

    And we have, making it easier to build the infrastructure that powers our digital economy.

    I said we’d radically reform regulation.

    And we have, cutting the time it takes to get new products and services onto the market and into people’s hands.

    I said we’d design new digital tools with a streamlined state and make engaging with government easier than it’s ever been before.

    And we have, from a digital driving licence and an app that will put public services into people’s hands. 

    To a new tool that will digitise decades-old planning records in minutes, slashing the time it takes to make decisions and get millions of new homes built right across our country. 

    And a platform that lets people in the public sector rate and review tech products, saving over a billion by helping councils and schools get better deals faster.

    Now none of that has been without risk.

    In early trials, the government chatbot we built started speaking French.

    I’m relieved to tell you that, after a brief flirtation with life across the Channel, it’s firmly back on British soil.

    But – even if its identity crisis had lasted a little longer – how many people would rather we’d stopped at the first sign of trouble?

    What’s a bonjour here, an au revoir there….

    … compared to hours spent on hold, waiting to work out whether your benefit payment has been made and made on time?

    Trawling through webpage after webpage to work out what you need to do to start a business?

    Because our choice actually was a simple one.

    Towards a future that is bright, bold, but risky.

    Or back to more of the same: stagnation and a slow but certain slide into decline.

    Today, we find ourselves at another critical moment.

    The risks we take – and the investments we make – will determine the path our country follows in the decades to come.

    And we must once again seize the opportunities in front of us with courage and conviction.

    With a record £86 billion in funding for R&D, that is exactly what this government is doing.

    For the first time, our modern industrial strategy will include a dedicated digital and technologies sector plan.

    Building on our strengths in 6 technologies with the greatest potential for growth:

    From AI, advanced connectivity and cyber security…

    … right through to engineering biology, quantum, and semiconductors.

    Behind that plan is a very clear mission.

    To build a faster, fairer economy. A society that offers opportunities for all.

    One where we don’t settle for buying these technologies off the shelf.

    We make them here.

    And we use them to shape a better future for every citizen.

    Yesterday, the Prime Minister unveiled £1 billion in backing for our bid to increase our country’s compute power twentyfold by the end of the decade.

    Today, I can go further.

    A new partnership between my department, Imperial College and the World Economic Forum will see London host the new Centre for AI-Driven Innovation.

    This is the first World Economic Forum Global Centre to be based right here in Britain.

    Focused on accelerating the adoption of AI, it will ensure that we can embed AI across our economy and put it to work for working people.

    And this is just the start.

    Boston might be the birthplace of biotech.

    But – with Google DeepMind on one side and the Crick on the other – King’s Cross is emerging as a global powerhouse for AI-driven drug discovery.

    Today, we’re launching a new project, OpenBind, to create the world’s largest database explaining how drugs interact with the proteins they target.

    20 times bigger than all the data collected worldwide over the last half a century, OpenBind will provide an exceptionally detailed picture of how diseases work.

    And it could cut the cost of developing new treatments by up to £100 billion.

    The results for the health of our people, our nation and our economy could be revolutionary.

    As Demis Hassabis said himself, this is a brilliant initiative for UK science.

    But initiatives like this will only succeed if we can attract top global talent.  

    Our tech success story wouldn’t have been possible without brilliant people choosing time and time again to call Britain home. 

    In an ever more competitive world, we simply cannot afford to lose that status. 

    So, we’ll be introducing a new scheme to attract the brightest and best brains to Britain. 

    Today, I can announce that we’re working with Advanced Research and Invention Agency (ARIA) and Pillar to double Encode AI for Science Fellowships and get top AI talent from around the world working in UK labs. 

    We’re also launching Turing AI Global Fellowships, which will bring AI experts from across the world to the UK and support them to carry out cutting-edge research. 

    At the same time, we’re starting a national skills drive at home, giving over a million students the chance to start careers in AI.

    And creating a new generation of British leaders as our country enters the digital economic age.

    Leaders just like the young people I met in Salford.

    Talking to them about their hopes for the future, I couldn’t help but think about my own journey through education

    Struggling with dyslexia, my teachers didn’t see any potential in me. 

    I was held back in remedial classes, I left at 16 with no qualifications to my name.

    No sense of what the future would hold.

    It wasn’t until I got a job at the Body Shop.

    Until I met Anita Roddick.

    And she saw something in me that I didn’t see in myself.

    Sending me out to give speeches for her.

    That I got over my fear of public speaking.

    I then went to university.

    And my life began to change.

    I choose to tell that story.

    Not because I think it’s unique.

    I tell it because I think it’s all too common in this country.

    And I think it says something about what is at stake right here today.

    This government don’t take risks lightly.

    Nor do we pursue change for change’s sake.

    We choose the path of progressive change. To build a modern economy and opportunistic society.

    We do so because any alternative leaves Britain poorer, weaker, more vulnerable in a complex world.

    Less able to promote and protect our prosperity and security for all our citizens.

    In the last year, the work of progressive change has begun.

    But we will only succeed if you take risks, too.

    If you choose to join us in transforming Britain for the better.

    As the place you pick to build new data centres.

    Or train new AI models.

    The country you choose when you’re developing life-saving drugs.

    Or designing the next generation of chips.

    A bolder, brighter future for Britain is in our hands.

    We’ve spent the last year getting the foundations right.

    Now, it’s our opportunity to build.

    Updates to this page

    Published 10 June 2025

    MIL OSI United Kingdom

  • MIL-OSI: NANO Nuclear Appoints Former U.S. Secretary of Energy and 47th Governor of Texas Rick Perry as Chairman of its Executive Advisory Board

    Source: GlobeNewswire (MIL-OSI)

    New York, N.Y., June 10, 2025 (GLOBE NEWSWIRE) — NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading advanced nuclear energy and technology company focused on developing clean energy solutions, today announced that it has appointed Rick Perry, former Governor of Texas and the United States Secretary of Energy from 2017 to 2019, as the Chairman of its Executive Advisory Board.

    NANO Nuclear has assembled a distinguished Executive Advisory Board comprised of high-level military, scientific and governmental experts, including former generals, members of Congress, and other U.S. and international figures. These leaders provide deep industry knowledge and important contacts to NANO Nuclear’s senior management. While each member of the Board covers a particular expertise mandate, Gov. Perry will serve as Chair of the Executive Advisory Board and lead its overall efforts to assist NANO Nuclear.

    “The United States has a distinguished legacy of nuclear‑energy innovation, and I’m confident NANO Nuclear will play an essential role in the next chapter,” said Rick Perry, Chairman of NANO Nuclear’s Executive Advisory Board. “As Secretary of Energy, I advocated for nuclear power because it offers an amazing prospect for a stable, safe, and efficient source of clean power. NANO Nuclear in particular is driving advancements in nuclear energy technology with its cutting edge microreactor designs and overall commercial strategy. I’m honored to join and lead NANO’s Executive Advisory Board, and I look forward to contributing my experience as this exciting company advances its vision to become a vertically integrated leader in the nuclear power sector.”

    “It is an incredible honor to welcome Governor Perry as Chairman of our Executive Advisory Board,” said Jay Yu, Founder and Chairman of NANO Nuclear. “He is a thoughtful and experienced leader, with an in-depth knowledge of U.S. energy infrastructure and a great understanding of America’s energy needs. His leadership will help guide our efforts to put the U.S. at the forefront of nuclear technology and drive the next wave of innovation, which is sorely needed as the energy demands continue to rise in support of cutting-edge artificial intelligence, datacenters and other energy intensive advancements. I am confident that his expertise will be instrumental in the near- and long-term success of our mission.”

    “Governor Perry’s record of public service and advocacy for nuclear energy align perfectly with our mission,” said James Walker, Chief Executive Officer of NANO Nuclear. “The relationships he built during his decades in public service, including his tenure as U.S. Secretary of Energy, will be invaluable as we make progress towards the demonstration, construction, and licensing phases of our reactor programs and other nuclear technology. His acceptance of this position affirms the progress we’ve made and reinforces our position at the forefront of advanced reactor technology.”

    John Vonglis, NANO Nuclear’s Executive Director of Global Government Affairs, who served as the Chief Financial Officer (CFO) of the U.S. Department of Energy (DOE) and acting Director of ARPA-E under Gov. Perry when he was Secretary of Energy, added “I know first-hand the importance Secretary Perry places on endeavors focused on retaining America’s primacy in all sectors, but especially energy. His extensive wealth of experience will most certainly help propel NANO Nuclear to the next level, and I welcome the opportunity to again serve with this great leader.”

    Rick Perry has led a life of public service, starting in the United States Air Force and continuing over two decades in elected office. He served as the 14th Secretary of Energy from 2017 to 2019 in the first Trump administration. As Secretary of Energy, Perry worked to advance energy policies to promote American energy independence, notably backing nuclear power.

    Figure 1 – NANO Nuclear Appoints Former Secretary of Energy Rick Perry as Chairman of its Executive Advisory Board.

    Prior to his service as Secretary of Energy, Perry served as the 47th governor of the State of Texas. His political career began in 1985 as a representative for a rural West Texas district in the state House of Representatives, and beginning in 1990, he served two terms as Texas Commissioner of Agriculture. Perry twice sought the Republican nomination for president, running in 2012 and again in 2016.

    He attended Texas A&M University and graduated with a bachelor’s degree in animal science in 1972. Between 1972 and 1977, Perry served in the United States Air Force, flying C‑130 tactical airlift aircraft in the U.S., Europe, and the Middle East; by the time of his discharge, he had attained the rank of captain.

    About NANO Nuclear Energy, Inc.

    NANO Nuclear Energy Inc. (NASDAQ: NNE) is an advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across five business lines: (i) cutting edge portable and other microreactor technologies, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be listed publicly in the U.S.

    Led by a world-class nuclear engineering team, NANO Nuclear’s reactor products in development include patented KRONOS MMR Energy System, a stationary high-temperature gas-cooled reactor that is in construction permit pre-application engagement U.S. Nuclear Regulatory Commission (NRC) in collaboration with University of Illinois Urbana-Champaign (U. of I.), “ZEUS”, a solid core battery reactor, and “ODIN”, a low-pressure coolant reactor, and the space focused, portable LOKI MMR, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors.

    Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, is led by former executives from the largest transportation company in the world aiming to build a North American transportation company that will provide commercial quantities of HALEU fuel to small modular reactors, microreactor companies, national laboratories, military, and DOE programs. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy. Assuming development and commercialization, AFT is expected to form part of the only vertically integrated nuclear fuel business of its kind in North America.

    HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry.

    NANO Nuclear Space Inc. (NNS), a NANO Nuclear subsidiary, is exploring the potential commercial applications of NANO Nuclear’s developing micronuclear reactor technology in space. NNS is focusing on applications such as the LOKI MMR™ system and other power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS’ initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon’s surface.

    For more corporate information please visit: https://NanoNuclearEnergy.com/

    For further NANO Nuclear information, please contact:

    Email: IR@NANONuclearEnergy.com
    Business Tel: (212) 634-9206

    PLEASE FOLLOW OUR SOCIAL MEDIA PAGES HERE:

    NANO Nuclear Energy LINKEDIN
    NANO Nuclear Energy YOUTUBE
    NANO Nuclear Energy X PLATFORM

    Cautionary Note Regarding Forward Looking Statements

    This news release and statements of NANO Nuclear’s management in connection with this news release contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. In this press release, forward-looking statements relate to the anticipated benefits to NANO Nuclear of Gov. Perry joining as Chairman of the Company’s Executive Advisory Board. These and other forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond our control. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy (“DOE”) or related state or non-U.S. nuclear fuel licensing submissions, (ii) risks related the development of new or advanced technology and the acquisition of complimentary technology or businesses, including difficulties with design and testing, cost overruns, regulatory delays, integration issues and the development of competitive technology, (iii) our ability to obtain contracts and funding to be able to continue operations, (iv) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology in the timelines we anticipate, if ever, (v) risks related to the impact of U.S. and non-U.S. government regulation, policies and licensing requirements, including by the DOE and the U.S. Nuclear Regulatory Commission, including those associated with the enacted ADVANCE Act and the May 23, 2025 presidential executive orders seeking to support nuclear energy, and (vi) similar risks and uncertainties associated with the operating an early stage business a highly regulated and rapidly evolving industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

    Attachment

    The MIL Network

  • MIL-OSI: eToro Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 10, 2025 (GLOBE NEWSWIRE) — eToro Group Ltd. (“eToro”, or the “Company”) (NASDAQ: ETOR), the trading and investing platform, today announced financial results for the first quarter ended March 31, 2025.

    “I am incredibly proud of the eToro team for producing strong first quarter results and the successful completion of our initial public listing. As a business that champions access to capital markets, we are excited to now be part of those markets. The retail investor of 2025 is informed and connected and we’re encouraged to see their trading behavior enabling them to benefit from market opportunities. We believe that AI is turbo-charging the reshaping of the investing landscape and we’re excited to be at the forefront of this transformation. As a global community that empowers retail investors, we are well positioned to drive sustainable growth and profitability over time, creating further value for our shareholders,” commented Yoni Assia, CEO and Co-founder of eToro.

    First Quarter 2025 Financial Highlights

    • Net contribution increased by 8% year on year to $217 million, compared to $201 million in the first quarter of 2024, driven primarily by increased trading activity.
    • Net income (GAAP) was $60 million, compared to $64 million in the first quarter of 2024 due to increased investment in marketing and growth in response to favorable market conditions.
    • Adjusted EBITDA (non-GAAP) was $80 million compared to $87 million in the first quarter of the prior year reflecting the investments referenced above. Adjusted EBITDA margin was 37%, compared to 43% in the prior year period.1
    • Funded accounts increased 14% year on year to 3.58 million compared to 3.13 million in the first quarter of 2024. This was driven primarily by ongoing user acquisition and retention efforts, as well as the acquisition of Australian investing app Spaceship in 2024.
    • Assets under Administration grew by 21% year on year to $14.8 billion compared to $12.2 billion.
    • Cash, cash equivalents and short term investments were $736 million as of March 31, 2025.

    1 See “Non-GAAP Financial Metrics and Key Performance Indicators” below for additional information and a reconciliation to GAAP for all Non-GAAP financial metrics. Adjusted EBITDA margin is based on net contribution.

    “Our results show strong business performance for Q1 with an increase in net contribution driven by increased trading activity and our continued focus on sustainable, profitable growth. In the first quarter, in response to the market environment, we increased investment in marketing and growth,” said Meron Shani, eToro CFO.

    Business Highlights
    eToro continued to focus on sustainable, profitable growth in Q1, launching products and services to support users at every stage of their investing journey.

    • Trading: eToro continues to expand and develop the range of assets and tools users need to trade the global markets. In the first quarter, eToro launched futures in Europe and options in the UK. With the addition of 40 more tokens, eToro now offers trading in over 130 cryptoassets. The Company also extended trading hours by offering a number of stocks and ETFs for 24/5 trading.
    • Investing: eToro added stocks from the Abu Dhabi and Hong Kong stock exchanges and now offers users the ability to invest in companies listed on more than 20 of the world’s leading exchanges. It continued to grow its range of Smart Portfolios with the launch of a commodities portfolio in partnership with WisdomTree, and a portfolio offering 100% capital protection. As part of the Company’s commitment to offer its users access to interest earning assets, eToro launched securities lending to users in Europe, and expanded crypto staking to include DOT and ATOM.
    • Wealth management: As part of its long-term investment strategy, in the first quarter, eToro introduced a new self-directed offering as part of its UK ISA and introduced recurring investments for stocks, ETFs and crypto allowing users to make regularly scheduled investments. The Company also initiated the integration of Spaceship and the expansion of its Australian offering to include superannuation solutions.
    • Neo-banking: In the first quarter, eToro began the roll out of crypto to fiat enabling users to transfer their crypto to eToro and diversify into other asset classes. As part of the expansion of the eToro Money offering, eToro partnered with local financial institutions to offer local virtual bank accounts in multiple countries. The Company also continued to expand the ability for users to trade local stocks using local currencies.
    • Financial education and AI: eToro is committed to empowering its users to grow their financial knowledge with accessible and engaging content. The Company is leveraging AI to accelerate the production and translation of education materials and now offers more than 3,000 articles, videos, podcasts and webinars in 11 languages.
    • Regulatory developments: In Q1, eToro was granted a MiCA permit by CySec which enables the provision of crypto services across the EU. As long-term supporters of crypto, this is a key milestone and eToro welcomes the regulatory clarity and uniform rules provided by MiCA which it believes will foster greater crypto adoption across Europe. The Company also achieved a SOC 2 Type II compliance certification which demonstrates its strong commitment to operational excellence throughout its crypto custody operations.

    Second Quarter 2025 Update

    • The performance of the business through May 31, 2025 reflects continued progress and interest in trading and investing from retail investors in response to market events.
    • As of May 31, 2025 eToro had 3.61 million funded accounts and $16.9 billion in Assets under Administration.

    Contact
    Media Relations – pr@etoro.com
    Investor Relations – investors@etoro.com

    About eToro
    eToro is the trading and investing platform that empowers you to invest, share and learn. We were founded in 2007 with the vision of a world where everyone can trade and invest in a simple and transparent way. Today we have 40 million registered users from 75 countries. We believe there is power in shared knowledge and that we can become more successful by investing together. So we’ve created a collaborative investment community designed to provide you with the tools you need to grow your knowledge and wealth. On eToro, you can hold a range of traditional and innovative assets and choose how you invest: trade directly, invest in a portfolio, or copy other investors. You can visit our media center here for our latest news.

    ETORO GROUP LTD.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    U.S. dollars in thousands

        March 31,   December 31,
        2025   2024
        Unaudited   Audited
    Assets        
    Current assets:        
    Cash and cash equivalents   660,060     575,395  
    Restricted cash   319     314  
    Short-term investment   76,000     65,000  
    Counterparties   240,842     224,867  
    Cryptoassets   99,761     113,279  
    Receivable from omnibus accounts   10,905     50,466  
    Other receivables and prepaid expenses   49,795     46,005  
        1,137,682     1,075,326  
             
    Non-current assets:        
    Restricted cash   11,751     11,630  
    Right of use assets   43,054     44,406  
    Property and equipment, net   4,965     5,007  
    Goodwill and other intangible assets, net   45,564     46,346  
    Deferred taxes   12,708     8,647  
        118,042     116,036  
             
    Total Assets   1,255,724     1,191,362  
             
    Liabilities and equities        
    Current liabilities:        
    Accounts payable   5,768     4,201  
    Current maturities of long-term lease liabilities   4,940     4,758  
    Payable to users   115,290     103,493  
    Accrued expenses and other payables   176,718     193,115  
        302,716     305,567  
             
    Non-current liabilities:        
    Employee benefit liabilities, net   1,202     1,253  
    Long-term lease liabilities   42,447     43,546  
    Deferred taxes liabilities   7,210     2,968  
    Other long-term liabilities   7,484     5,653  
        58,343     53,420  
             
    Equity attributable to equity holders of the company:        
    Common share premium   479,036     474,469  
    Preferred share premium   397,019     397,019  
    Treasury shares   (2,625 )   (2,625 )
    Advanced Investment Agreement   9,091     9,091  
    Other capital reserve   (361 )   1,868  
    Retained Earnings (Accumulated deficit)   12,505     (47,447 )
        894,665     832,375  
    Total liabilities and equity   1,255,724     1,191,362  

    ETORO GROUP LTD.
    CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS
    AND OTHER COMPREHENSIVE INCOME (LOSS)
    U.S. dollars in thousands

        Three months ended
    March 31,
        2025   2024
        Unaudited   Unaudited
             
    Revenue and income:        
    Net trading income from equities, commodities and currencies   96,837     73,098  
    Revenue from cryptoassets   3,500,800     3,293,120  
    Net trading income (loss) from cryptoassets derivatives   77,051     (56,767 )
    Net interest income from users   52,618     49,318  
    Currency conversion and other income   23,911     21,403  
    Other interest income   4,164     3,348  
    Total revenue and income   3,755,381     3,383,520  
             
    Costs:        
    Cost of revenue from cryptoassets   3,528,853     3,173,766  
    Margin interest expense   9,159     8,650  
    Research and development   36,621     33,166  
    Selling and marketing   61,222     37,342  
    General, administrative and operating costs   49,502     56,042  
    Finance and other expenses, net   (517 )   928  
    Total costs   3,684,840     3,309,894  
             
    Income before taxes on income   70,541     73,626  
    Taxes on income   10,589     9,516  
    Net income   59,952     64,110  
             
    Other comprehensive income, net:        
    Items that may be reclassified subsequently to profit or loss:        
    Cash flow hedges, net of tax   (2,229 )    
    Other comprehensive loss for the year, net of tax   (2,229 )    
             
    Total comprehensive income   57,723     64,110  
             
    Basic net income per share   0.79     0.85  
    Diluted net income per share   0.69     0.76  
             
    Weighted-average shares of common shares used to compute net income per share attributable to common shareholders:      
    Basic   75,712,289     75,040,326  
    Diluted   86,576,130     84,239,189  

    ETORO GROUP LTD.
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    U.S. dollars in thousands

        Three months ended
    March 31,
        2025   2024
        Unaudited   Unaudited
             
    Cash flows from operating activities:        
    Net income   59,952     64,110  
             
    Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
    Adjustments to profit or loss items:        
    Depreciation, amortization and impairment   3,011     2,590  
    Share-based payment   4,287     8,891  
    Evaluation of contingent liability   1,831      
    Revaluation of fair value of cryptoassets and counterparties   51,830     (2,004 )
    Non-cash revenue from staking and blockchain rewards   (8,723 )   (3,877 )
    Non-cash costs from staking and blockchain rewards   5,847     2,441  
    Finance and other expenses, net   (517 )   928  
    Taxes on income, net   10,589     9,516  
        68,155     18,485  
    Changes in asset and liability items:        
    Increase of counterparties   (68,235 )   (67,300 )
    Decrease (increase) of cryptoassets   13,154     (8,196 )
    Increase of other receivables and prepaid expenses   (7,029 )   (15,427 )
    Increase of restricted cash   (124 )   (77 )
    Increase (decrease) of accounts payable   (670 )   13,043  
    Increase of user and omnibus accounts, net   48,901     38,842  
    Increase (decrease) of accrued expenses and other payables   (19,753 )   11,677  
    Decrease of employee benefit liabilities, net   (29 )   (439 )
        (33,785 )   (27,877 )
    Interest received (paid), net during the year   967     (1,235 )
    Taxes paid, net during the year   (5,557 )   (2,600 )
    Net cash provided by operating activities   89,732     50,883  
             
    Cash flows from investing activities:        
    Increase of short-term investments   (11,000 )    
    Purchase of property and equipment   (522 )   (1,712 )
    Purchase of intangible assets   (57 )    
    Net cash used in investing activities   (11,579 )   (1,712 )
             
    Cash flows from financing activities:        
    Exercise of options   280     211  
    Repayment of lease liability   (1,147 )   (909 )
    Net cash used in financing activities   (867 )   (698 )
             
    Exchange differences on balances of cash and cash equivalents   7,379     (3,579 )
             
    Increase in cash and cash equivalents   84,665     44,894  
             
    Cash and cash equivalents at beginning of year   575,395     388,334  
             
    Cash and cash equivalents at end of year   660,060     433,228  


    Non-GAAP Financial Metrics and Key Performance Indicators

    This press release and the accompanying tables contain certain non-GAAP financial metrics which differ from results prepared in accordance with GAAP. These non-GAAP financial metrics include: Adjusted EBITDA, which is defined as net income (loss) adjusted to exclude finance and other expenses, net, taxes on income, share-based payment expense, depreciation and amortization, employee non-cash expense, one-time transaction costs and other expense (income).

    eToro believes that these non-GAAP financial metrics may be helpful to investors because they provide consistency and comparability with past financial performance. Additionally, eToro management regularly review certain key performance metrics and non-GAAP financial metrics to evaluate its business, measure its performance, identify trends, prepare financial projections and make business decisions. However, non-GAAP financial metrics are presented for supplemental informational purposes only, have limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. Other companies, including companies in eToro’s industry, may calculate similarly titled non-GAAP financial metrics differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of these non-GAAP financial metrics as tools for comparison. A reconciliation is provided below for the non-GAAP financial metrics to the most directly comparable financial metric stated in accordance with GAAP.

    ETORO GROUP LTD.
    RECONCILIATION OF NON-GAAP METRICS
    U.S. dollars in thousands

        Three months ended
        March 31,
        2025   2024
        Unaudited   Unaudited
             
    Net income   59,952     64,110
    Finance expense, net   (517 )   928
    Taxes on income   10,589     9,516
    Share-base payment expense   4,287     8,891
    Depreciation, amortization, and impairment   3,010     2,590
    Employee non-cash expense2   (1,049 )   595
    Transaction related costs3   2,091     247
    Evaluation of contingent liability4   1,831    
             
    Adjusted EBITDA   80,194     86,877

     

    2Employee non-cash expense is related to payroll expenses recorded in respect of the non-withdrawable amount (“NWA”) over the employee’s vesting period.
    3Transaction related costs include transaction costs associated with the initial public offering.
    Evaluation of contingent liability is related to the commitment to issue shares as part of the Spaceship acquisition. Due to an increase in the share price, an evaluation was performed.

    Definitions of Certain Key Performance Indicators

    Adjusted EBITDA: Adjusted EBITDA is a non-GAAP financial metric that we define as net income (loss) adjusted to exclude finance and other expenses, net, taxes on income, share-based payment expense, depreciation and amortization, employee non-cash expense, one-time transaction costs and other expense (income).

    Assets under administration: Assets under administration (‘AUA’) are defined as the aggregate of the following: (i) the total fair value of all equities, cryptoassets, commodities, currencies and options held by users in their accounts, (ii) cash held by users in their accounts, (iii) eToro Money balances, (iv) users’ cryptoassets held in the eToro digital wallet, (v) users’ assets held by 3rd parties partners for execution or custody services.

    Funded Accounts: Funded Accounts are users who have completed KYC, AML and other onboarding processes, activated their account, deposited funds, executed at least one trade at any time and have a positive account balance (invested or uninvested). Funded Accounts represent the deepest level of our user acquisition funnel and are the users from whom we generate Total Commission.

    Interest Earning Assets: Interest Earning Assets are the average monthly balances of users’ cash balances, corporate cash, users’ total leveraged positions and stakeable cryptoassets.

    Net Contribution: Net Contribution reflects Total revenue and income, less the Cost of revenue from cryptoassets and Margin interest expense. We use Net Contribution to evaluate the net contributions of our users’ activity on our platform before considering the overhead costs associated with our operations.

    Net Contribution consists of the following five components, each representing revenue or income divided across our products based on the distinct patterns upon which we monetize users’ activity on the platform. We evaluate the performance of our business and our success in both diversification and risk management across these five components:

    • Net Trading Contribution (Equities, Commodities and Currencies) is equal to our Net trading income from equities, commodities and currencies.
    • Net Trading Contribution (Cryptoassets) is equal to Revenue from cryptoassets plus Net trading income (loss) from cryptoasset derivatives less Cost of revenue from cryptoassets, excluding the net contributions from blockchain rewards and staking activity.
    • Net Interest Contribution represents Net interest contribution from users plus Other interest income plus the net contributions of staking activity, less Margin interest expense.
    • eToro Money comprises the vast majority of our Currency conversion and other income. It represents the income earned from our money management services, including currency conversions, withdrawals, interchange on our debit card, transfers of cryptoassets, and fees relating to our cryptoasset wallet services.
    • Subscriptions and Other is the remainder of Currency conversion and other income not attributable to eToro Money plus the net contributions of blockchain rewards.

    Net Income
    Net income represents the company’s total earnings or profit for a given period, calculated as total revenue minus all expenses, including operating costs, depreciation, interest, taxes, and other income or expenses. It reflects the company’s overall profitability according to GAAP standards.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our financial outlook and market positioning. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as “outlook,” “guidance,” “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “plan,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” “shall” and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond eToro’s control. eToro’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to market volatility and erratic market movements; failure to retain existing users or adding new users; extreme competition; changes in regulatory and legal framework under which we operate; regulatory inquiries and investigations; our estimates of our financial performance; interest rate fluctuations; the evolving cryptoasset market, including the regulations thereof; conditions related to our operations in Israel, including the ongoing war; risks related to data security and privacy and use of OSS; risks related to AI; changes in general economic or political conditions; changes to accounting principles and guidelines; the ability to maintain the listing of our securities on Nasdaq; unexpected costs or expenses; and other factors described in “Risk Factors” in our Registration Statement on Form F-1, filed with the SEC on March 24, 2025, as amended, and declared effective by the SEC on May 13, 2025. Further information on potential risks that could affect actual results will be included in the subsequent filings that eToro makes with SEC from time to time.

    Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent eToro’s views as of the date of this press release. eToro anticipates that subsequent events and developments will cause its views to change. eToro undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. These forward-looking statements should not be relied upon as representing eToro’s views as of any date subsequent to the date of this press release.

    Source: eToro Group Ltd.

    The MIL Network

  • MIL-OSI: Exodus Movement, Inc. May 2025 Treasury Update and Monthly Metrics

    Source: GlobeNewswire (MIL-OSI)

    OMAHA, Neb., June 10, 2025 (GLOBE NEWSWIRE) — Exodus Movement, Inc. (NYSE American: EXOD) (“Exodus”), a leading self-custodial cryptocurrency platform, today announced an update to selected digital asset holdings of Exodus’ corporate treasury, as well as updated user and exchange provider processed volume metrics, as of May 31, 2025:

    Selected Digital Asset Holdings (Unaudited)
    Bitcoin (BTC): 2,038 BTC as of May 31, 2025
    Ethereum (ETH): 2,721 ETH as of May 31, 2025
    Solana (SOL): 29,109 SOL as of May 31, 2025

    Users
    Monthly Active Users (MAUs): 2.2 million as of May 31, 2025, of which approximately 675,000 are Passkeys Wallets.

    Swap Volume
    Exchange provider processed volume was $486M for the month of May 2025, of which $69M (14%) originated from our XO Swap partners.

    Exodus CEO, JP Richardson, commented: “Our monthly active users benefited from a brief May promotion aimed at Passkeys Wallets that we do not expect to reoccur in June. However, this performance demonstrates the power of our Passkeys tech, enabling a scalable, hassle free, and under thirty second wallet onboarding experience ideal for stablecoin adoption. Additionally, we believe our sponsorship of the Las Vegas BTC 2025 conference further reinforced Exodus’ market leadership in bringing crypto, including Bitcoin and stablecoins, to the wider public.”

    “Our operations continue to generate Bitcoin,” Exodus CFO James Gernetzke remarked. “In particular, incremental increases in our BTC units held demonstrate the real-world benefits of our operational philosophy. In addition, we plan to continue to drive shareholder value by executing upon our organic growth initiatives, pursuing potential strategic acquisitions, and expanding our digital assets treasury.”

    About Exodus
    Exodus is a financial technology leader empowering individuals and businesses with secure, user-friendly crypto software solutions. Since 2015, Exodus has made digital assets accessible to everyone through its multi-asset crypto wallets prioritizing design and ease of use.

    With self-custodial wallets, Exodus puts customers in full control of their funds, enabling them to swap, buy, and sell crypto. Its business solutions include Passkeys Wallet and XO Swap, industry-leading tools for embedded crypto wallets and swap aggregation.

    Exodus is committed to driving the future of accessible and secure finance. Learn more at exodus.com or follow us on X at x.com/exodus.

    Investor Contact
    investors@exodus.com

    Disclosure Information
    Exodus uses the following as means of disclosing material nonpublic information and for complying with disclosure obligations under Regulation FD: websites exodus.com/investors and exodus.com/blog; press releases; public videos, calls, and webcasts; and social media: X (@exodus and JP Richardson’s feed @jprichardson), Facebook, LinkedIn, and YouTube.

    Forward-Looking Statements
    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements are based on our beliefs and assumptions and on information currently available to us as of the date hereof. In some cases, you can identify forward-looking statements by the following words: “will,” “expect,” “would,” “should,” “intend,” “believe,” “expect,” “likely,” “believes,” “views”, “estimates,” or other comparable terminology.

    Forward-looking statements in this document include, but are not limited to, management statements regarding management’s confidence in our products, services, business trajectory and plans, expectations regarding demand for our products, and optionality around future securities offerings, including to finance acquisitions. Such forward-looking statements involve a number of risks, uncertainties and other important factors that could cause our actual results to differ materially from those expressed or implied by our forward-looking statements. Such factors include those set forth in “Item 1. Business” and “Item 1A. Risk Factors” of Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 6, 2025, as well as in our other reports filed with the SEC from time to time.

    All forward-looking statements are expressly qualified in their entirety by such cautionary statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Except as required by law, we undertake no obligation to update or revise any forward-looking statements that have been made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.

    The MIL Network

  • MIL-OSI Russia: China extends anti-dumping probe into EU pork

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    BEIJING, June 10 (Xinhua) — China’s Ministry of Commerce said Tuesday it will extend an anti-dumping investigation into some types of pork and pork by-products imported from the European Union (EU).

    Given the complexity of the case and in accordance with relevant regulations, the ministry decided to extend the investigation until December 16, 2025, according to a statement on the ministry’s official website.

    The Chinese Ministry of Commerce launched an investigation on June 17 last year. -0-

    MIL OSI Russia News

  • Indian markets end flat amid ongoing consolidation phase

    Source: Government of India

    Source: Government of India (4)

    The Indian stock market closed largely unchanged on Tuesday, reflecting a continuation of the ongoing consolidation phase. The BSE Sensex slipped 53.49 points to settle at 82,391.72, while the NSE Nifty inched up by a single point to end at 25,104.25.

    IT stocks led the gains, with the Nifty IT index rising 1.67%. Other sectoral indices that closed in the green included pharma, FMCG, metals, media, energy, and commodities. On the other hand, auto, PSU banks, financial services, realty, and infra indices registered losses.

    Among the top gainers on the Sensex were Tech Mahindra, Tata Motors, Infosys, HCL Tech, UltraTech Cement, TCS, ITC, Axis Bank, Nestle, and Adani Ports. Meanwhile, Maruti Suzuki, Asian Paints, Bajaj Finance, Tata Steel, Bajaj Finserv, ICICI Bank, and Reliance Industries ended the day in the red.

    According to analysts, the Nifty has managed to sustain levels above its previous consolidation zone on the daily chart, suggesting the uptrend remains intact.

    “This positive sentiment is likely to persist and favours long trades as long as the index stays above the key support level of 24,850. If the Nifty breaks decisively above 25,350, we may see an extended rally in the short term,” said Rupak De, Senior Technical Analyst at LKP Securities.

    Vikram Kasat, Head of Advisory at PL Capital, added that despite the current consolidation, factors such as improving liquidity, resilient corporate earnings, and continued interest from foreign portfolio investors (FPIs) are supporting market optimism.

    On the currency front, the rupee traded flat to slightly positive at around 85.67 to the dollar. Analysts said last week’s 0.50% rate cut by the Reserve Bank of India—bringing the total rate reduction to 100 basis points—has added liquidity, helping offset pressure from rising crude oil prices. The rupee is expected to remain range-bound between 85.25 and 86.00 in the near term.

    Meanwhile, gold prices hovered in a tight range between $3,315 and $3,320 per ounce and around ₹97,000 per 10 grams in the domestic market. Market participants are awaiting cues from upcoming US-China trade talks and the release of US Consumer Price Index (CPI) data later this week.

    “Any positive outcome in US-China trade discussions could push gold down towards ₹95,000, while negative commentary might drive prices higher towards ₹98,500 and $3,360 levels,” said Jateen Trivedi, VP Research Analyst at LKP Securities.

    -IANS

  • Lutnick says US-China trade talks going well on second day

    Source: Government of India

    Source: Government of India (4)

    U.S. Commerce Secretary Howard Lutnick said on Tuesday trade talks with China were going well as the two sides met for a second day in London, seeking a breakthrough on export controls that have threatened a fresh rupture between the superpowers.

    U.S. and Chinese officials are trying to get back on track after Washington accused Beijing of blocking exports of rare earth minerals that are critical to its economy, straining ties after they struck a preliminary deal in Geneva last month to step back from a full-blown trade embargo.

    White House economic adviser Kevin Hassett said on Monday that the U.S. was ready to agree to lift export controls on some semiconductors in return for China speeding up the delivery of rare earths and magnets.

    “(Talks went on) all day yesterday, and I expect (them) all day today,” Lutnick told reporters. “They’re going well, and we’re spending lots of time together.”

    Trump’s shifting tariff policies have roiled global markets, sparked congestion and confusion in major ports, and cost companies tens of billions of dollars in lost sales and higher costs.

    But markets have made up much of the losses they endured after Trump unveiled his sweeping “Liberation Day” tariffs in April, aided by the reset in Geneva between the world’s two biggest economies.

    The second round of U.S.-China talks, which followed a rare phone call between Trump and Chinese President Xi Jinping last week, comes at a crucial time for both economies.

    Customs data published on Monday showed that China’s exports to the U.S. plunged 34.5% in May, the sharpest drop since the outbreak of the COVID pandemic.

    While the impact on U.S. inflation and its jobs market has so far been muted, tariffs have hammered U.S. business and household confidence and the dollar remains under pressure.

    DISCUSSING DISAGREEMENTS

    The talks have been led by U.S. Treasury Secretary Scott Bessent, Lutnick and U.S. Trade Representative Jamieson Greer, with the Chinese contingent helmed by Vice Premier He Lifeng.

    The talks ran for almost seven hours on Monday and resumed just before 1000 GMT on Tuesday, with both sides expected to issue updates later in the day.

    The inclusion of Lutnick, whose agency oversees export controls for the U.S., is one indication of how central rare earths have become. He did not attend the Geneva talks, when the countries struck a 90-day deal to roll back some of the triple-digit tariffs they had placed on each other.

    China holds a near-monopoly on rare earth magnets, a crucial component in electric vehicle motors, and its decision in April to suspend exports of a wide range of critical minerals and magnets upended global supply chains and sparked alarm in boardrooms and factory floors around the world.

    Kelly Ann Shaw, a former White House trade adviser during Trump’s first term and now a trade partner at the Akin Gump law firm in Washington, said she expected China to reaffirm its commitment to lift retaliatory measures, including export restrictions, “plus some concessions on the U.S. side, with respect to export control measures over the past week or two”.

    But Shaw said she expected the U.S. to only agree to lift some new export curbs, not longstanding ones such as for advanced artificial intelligence chips.

    In May, the U.S. ordered a halt to shipments of semiconductor design software and chemicals and aviation equipment, revoking export licences that had been previously issued.

    (Reuters)

  • MIL-OSI Russia: HSE and X5 to support talented students

    Translation. Region: Russian Federal

    Source: State University Higher School of Economics – State University Higher School of Economics –

    X5 has increased the number of student grants for applicants to the Higher School of Business at the National Research University Higher School of Economics. The company will compensate part of the tuition fees for twenty-five talented applicants in the Master’s program “B2C Business Management: Technologies and Innovations” (previously “Retail Management”). Applications for grants can be submitted from June 20.

    X5 has been a strategic partner of the Master’s program for more than three years. Currently, almost a quarter of the company’s employees are under 25 years old, so developing relationships with universities and educational institutions is a priority for preparing a personnel reserve. This year, the program’s content was completely revised — “B2C Business Management: Technologies and Innovations” became the first specialized master’s program that trains leaders in retail and e-commerce. The company, together with the Higher School of Business of the Higher School of Economics, took into account all the latest market trends and built the program around three main blocks: customer experience, new technologies and innovations, leadership and management.

    The Master’s degree is suitable for both bachelors and specialists aiming for a career in retail and e-com, as well as for those who already work in retail and B2C companies, as well as those who run their own business. Five HSE graduates who successfully pass the entrance exams and score high will be able to study with a 35% discount. Another 20 applicants will receive a grant in the amount of 25% of the cost of tuition. The best students will receive financial support from X5 for the entire period of study.

    Students of the program study Data Science, business analytics, digital platforms, digital marketing, customer experience management in an omnichannel environment. That is, the disciplines that are necessary for working in modern business. Each area is supervised by top managers and executives of X5 – the program is designed for full integration, where there is a lot of practice, research and project work. Experts from X5 give lectures, hold open meetings, seminars and excursions, visit stores, distribution centers, innovation labs and ready-to-eat food production together with students.

    Ksenia Mardanova

    Director of Work with Educational Institutions X5

    “We pass on our knowledge and experience as an industry leader to students and tell them that modern retail is much more than just retail. X5 includes not only retail chains, but also IT, delivery, transport, and prepared food services. And our partnership with the HSE uniquely combines academic depth with applied approaches, including elements of an MBA in management practice. Over two years, students develop a portfolio of more than 10 projects based on real-life retail and e-commerce challenges. Graduates make good careers in major companies; we see them as promising specialists and are ready to consider them for work at X5. At the same time, the program improves the competencies of our own employees, who, while studying here, gain new skills for growth within the company.”

    Andrey Starkov

    Academic Director of the program, Associate Professor of Practice at the Higher School of Business, National Research University Higher School of Economics

    “Thanks to the support of X5, our program gives talented students the opportunity to receive a quality management education at one of the leading business schools in Russia and build a career in B2C business. The program’s special feature is its practice-oriented approach: courses are implemented using the co-teaching scheme, when HSE teachers and business professionals conduct classes together. In addition, students prepare coursework and diploma projects in a consulting format, solving real-life problems of companies. The involvement of practitioners in the educational process provides valuable networking and deep immersion in the professional environment.”

    For admission to the program In 2025, applications will be accepted from June 20 to August 8: 63 places are open for students from Russia and one for students from foreign countries.

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

    MIL OSI Russia News

  • MIL-OSI United Kingdom: Raft of tech companies investing in Britain as government vows to unleash growth

    Source: United Kingdom – Executive Government & Departments

    Press release

    Raft of tech companies investing in Britain as government vows to unleash growth

    From AI to fintech, leading global tech firms that will power the next Industrial Revolution announce major UK investments, creating highly-skilled jobs from Edinburgh to Warwick.

    • From AI to fintech, leading global tech firms that will power the next Industrial Revolution announce major UK investments, creating highly-skilled jobs from Edinburgh to Warwick.
    • Technological progress will define the decades ahead, unleashing new innovations that could make us healthier, wealthier and safer – Science and Tech Secretary Peter Kyle told an audience today.
    • Government will go all in on science and tech to deliver the growth, improved healthcare, and clean energy breakthroughs that are central to the upcoming modern Industrial Strategy and Plan for Change.

    Hundreds of well-paid, highly-skilled tech jobs will be created from Edinburgh to Warwick, and beyond, as the Science and Technology Secretary has confirmed a raft of investments into the UK by leading global technology companies today (Tuesday 10 June). These significant investments range from AI to fintech, and some see the companies involved setting up shop in the UK for the very first time.

    Peter Kyle unveiled this news in a keynote speech at London Tech Week, where he also set out more of the government’s plan to put the white-hot potential of science and technology to work, building a better UK. Investments like these, together with partnerships like that announced with NVIDIA by the Prime Minister yesterday, and new government measures set out by the Secretary of State, will ignite the growth the UK needs to truly deliver on the government’s Plan for Change.

    From harnessing AI to boost healthcare and clean energy, to new measures to support innovative early-stage science and tech companies to thrive, going all in on science and tech is the route to the medical breakthroughs, ways of making energy cheaper and greener, and good-quality jobs that will make all our lives better. It’s one of the growth-driving sectors in the government’s forthcoming modern Industrial Strategy, and today’s speech sets out elements that will drive the success of the strategy.

    Investments being announced today:

    • Liquidity, a US-based global AI fintech, will launch its European headquarters in London as part of a plan to invest an additional £1.5 billion into cutting-edge enterprises over the next 5 years
    • InnovX AI, one of Europe’s leading startup hubs, investing £14.7 million in a new London technology hub, creating 30 jobs
    • Nebius, a Dutch AI infrastructure company, announcing a long-term commitment to back the UK’s AI sector, starting with an initial investment of £200 million. They will establish a UK AI Factory – with 2 potential sites in South East England currently being assessed – that could result in thousands of jobs coming online in the decades to come
    • Capgemini, one of the world’s largest business and technology transformation partners, expanding its UK presence with a new London HQ, following strong revenue growth over the years. 
    • Netcompany, a Danish IT consultancy, investing £2 million as it expands its Leeds office and launches a new site in Edinburgh, eventually set to create 150 jobs
    • Ekimetrics, a French AI solutions firm, is investing £8.5 million in their UK operations, creating over 150 roles in London over 3 years as part of its Elevate 2028 strategy
    • Yuno, a Colombia-based global fintech that is rapidly expanding, is choosing London for its European headquarters
    • Rebeldot, a Romanian software and tech consultancy, opening its UK subsidiary in Warwick, as part of plans to expand its presence in the UK

    To succeed, the UK’s tech leaders need stability and certainty. Today the Science and Tech Secretary has set out the ways in which the British state will be an active partner and enabler, working with the private sector to unlock the promise of technology, to help unleash the next Industrial Revolution and build a better Britain.

    The government’s upcoming modern Industrial Strategy will also provide a credible 10-year plan to deliver the certainty and stability businesses need to invest in high-growth sectors like digital and technologies. This will secure the UK’s position as the best place in Europe to create, invest, and scale-up a fast-growing digital and technologies business.

    These include an £86 billion commitment to funding for R&D, a new £25 million scheme to bring elite AI experts to the UK, £187 million for new schemes to train up the tech workforce of tomorrow, and £1 billion funding for the AI Research Resource announced by the Prime Minister yesterday.

    Science and Technology Secretary Peter Kyle said:

    We have all seen over the last few years, just how rapidly and profoundly technologies like AI are transforming the economy, and our society. Britain can – and must – be at the cutting edge of this change. The era of hesitancy is over: we can be the masters of our fate, and through the measures I am announcing today, we will harness the vast potential of our trillion-pound tech sector to help remake our country for the better.

    This is the Plan for Change, in action. The UK has all the tools needed for success in science and technology, and by working as an active partner to our world-leading universities and cutting-edge businesses, this government will ensure that we seize the era-defining opportunities before us.

    Business and Trade Secretary Jonathan Reynolds said:

    The UK continues to be a prime destination for tech businesses from across the world to come and succeed, and London Tech Week is a shining example of this.

    Securing valuable high-tech investment is an integral mission of this government and seeing global investors put billions in the UK economy shows the Plan for Change is working, with more and more companies choosing Britain.

    With tech being identified as a key growth sector in our upcoming modern Industrial Strategy, we’re not only helping attract and secure investment, but delivering long-term, stable growth that supports skilled jobs and raises living standards across the UK.

    Announcements being made today are evidence of the holistic approach the government is taking to turbo-charging Britain’s tech sector.

    Science and Technology Venture Capital Fellowship

    To encourage the investment and access to risk capital that is critical for science and tech-backed businesses in the early stages, we are opening the Science and Technology Venture Capital Fellowship for a second cohort and round of applications, to increase the capacity of the UK financial sector to invest in the tomorrow’s breakthroughs, today. This will be delivered by the Royal Academy of Engineering and Imperial Business School.

    Turing AI ‘Global’ fellowships

    New efforts to build the skills base Britain needs to seize the potential of AI, are being backed with £25 million. A prestigious new AI talent fellowship will be launched, to attract 5 top AI experts to the UK: the Turing AI ‘Global’ fellowships. Fellows will receive substantial packages to relocate to the UK and quickly build a team of experts to conduct frontier AI research and contribute to the UK’s AI ecosystem.

    Encode: AI for Science Fellowship

    The government also intends to fund a UK-based expansion of the Encode: AI for Science Fellowship. Conceived and delivered by Pillar VC and enabled by ARIA, the programme embeds world-class AI researchers into cutting-edge scientific labs, accelerating the pathway to industry, and enabling talent to spend one year immersed in intensive exploration, feedback, and development cycles.

    The Encode fellowships will commence earlier, with new talent arriving in the UK by Autumn 2025. This will be backed by the UK Sovereign AI Unit with up to £5 million in government funding.

    This investment will ensure the UK further benefits from the extraordinary talent Encode has already attracted, catalysing new collaborations in areas such as climate modelling, rare disease treatment, crop development, and neuroscience. Encode is one of the first initiatives launched and supported through ARIA’s flagship Activation Partners initiative.

    Spinouts Register

    Meanwhile a world-first new Spinouts Register marks a step-change in the type and quality of information available on the UK’s spinouts – which will inform better policymaking, and enable better support for these important companies. This comprehensive database covering the more than 2,000 spinouts formed since 2012/2013 in the UK, represents the first ever ‘official’ list of all spin-out companies produced by UK universities.

    The first flagship analysis to better understand how spinouts grow and succeed, drawing on data within the Register, is also being published today, by the University of Cambridge’s Policy Evidence Unit for University, Commercialisation and Innovation (UCI). Initial findings show university spinouts outperform other start-ups, including contributions in key strategically important sectors, with university spinouts comprising 70% of the top 20 life science startups by investment raised. The Register has been developed by the Higher Education Statistics Agency with Research England and UCI.

    Working internationally delivers benefits beyond investment, and working with global partners is also critical to the UK’s ambitions for science and technology. The vast opportunities for our innovators through schemes like Horizon Europe are central to that. Later today, Peter Kyle will meet with European Commissioner for Research and Innovation Commissioner Ekaterina Zaharieva to discuss how to exploit these opportunities even further, building on the UK having recently gained access to more quantum and space Horizon funding calls.

    All of this is on top of commitments to the UK’s innovation and technology-forward future announced by the Prime Minister, yesterday, including greater support for researchers to spin their ideas out into successful businesses, and new schemes like the Tech First programme that will give British workers the skills they need to thrive in the decades ahead. The government is also developing the National Digital Exchange, a web platform that could save the public sector £1.2 billion on buying tech, as well as cutting duplicative costs and processes.

    DSIT media enquiries

    Email press@dsit.gov.uk

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    Updates to this page

    Published 10 June 2025

    MIL OSI United Kingdom

  • MIL-OSI United Nations: Secretary-General’s opening remarks at press conference at Ocean Conference [Full transcript, scroll down for French]

    Source: United Nations secretary general

    Good morning,
     
    We are in Nice on a mission – save the ocean, to save our future.

    That was my message at the Conference opening yesterday, and it is the message I have carried through all my meetings.
     
    The ocean is the lifeblood of our planet.
     
    It produces half of the oxygen we breathe, nourishes billions of people, supports hundreds of millions of jobs, and underpins global trade.
     
    For many, the ocean is more than a source of food and livelihood.
     
    It shapes cultures…anchors identities… and feeds the soul.
     
    Yet, we are treating it like a limitless resource – pretending it can absorb our abuse without consequence.
     
    Every year, we see more troubling signs that our ocean is under siege.
     
    Fish populations are collapsing due to reckless illegal fishing and overexploitation.
     
    Climate change is driving ocean acidification and heating – destroying coral reefs, accelerating sea level rise, and threatening communities worldwide.
     
    And plastic pollution is choking marine life and infesting our food chain – ultimately ending up in our blood and even our brains.
     
    When we poison the ocean, we poison ourselves.
     
    Dear friends,
     
    There’s a tipping point approaching – beyond which recovery may become impossible.
     
    And let us be clear:
     
    Powerful interests are pushing us towards the brink.
     
    We are facing a hard battle, against a clear enemy.
     
    Its name is greed.
     
    Greed that sows doubt… denies science… distorts truth… rewards corruption… and destroys life for profit.
     
    We cannot let greed dictate the fate of our planet.
     
    That is why we are here this week: to stand in solidarity against those forces and reclaim what belongs to us all.
     
    Governments, business leaders, fishers, scientists…  everyone has a responsibility and a vital role to play.
     
    Throughout my many engagements at the Conference, I have highlighted four priorities.
     
    First – we must transform how we harvest the ocean’s bounty.
     
    It is not about fishing, it’s about how we fish.
     
    Sustainable fishing is not a choice – it is our only option.
     
    This means stronger global cooperation, strict enforcement against illegal fishing, and expanded protected areas to rebuild stocks and safeguard marine life.
     
    And it means delivering on the 30 by 30 target – to conserve and manage at least 30 per cent of marine and coastal areas by 2030.
     
    We have a moral duty to ensure future generations inherit oceans swarming with life.
     
    Second – we must confront the plague of plastic pollution.
     
    This means phasing out single-use plastics, overhauling waste systems, and boosting recycling.
     
    All countries must quickly finalize an ambitious, legally binding global treaty to end plastic pollution. And we hope that this will happen this year.
     
    Third – the fight against climate change must extend to the seas.
     
    For decades, the ocean has been absorbing carbon emissions and taking the heat of a warming planet.
     
    That comes at great cost.
     
    As we prepare for COP30 in Brazil, countries must present ambitious national climate action plans.
     
    These plans must align with limiting the rise in global temperature to 1.5 degrees Celsius;
     
    Cover all emissions and the whole economy;
     
    And in line with the commitments countries have made to accelerate the global energy transition and seize the benefits of clean power.
     
    Last year, for the first time, the annual global temperature was 1.5°C hotter than pre-industrial times.
     
    Scientists are clear: that does not mean that the long-term global temperature rise limit to 1.5 degrees is out of reach.
     
    It means we need to fight harder.
     
    The ocean depends on it – and so do we.
     
    I urge countries to champion ocean-based climate solutions – like protecting mangroves, seagrass beds, and coral reefs.
     
    We must also increase financial and technological support to developing countries – so that they can protect themselves from extreme weather and respond when disasters strike.
     
    The survival of coastal communities and Small Island Developing States depends on it.
     
    And fourth – we must implement the recent Agreement on Marine Biodiversity of Areas Beyond National Jurisdiction.
     
    The Agreement is a historic step towards protecting vast areas of our ocean.
     
    I congratulate the 134 countries that have signed and the 49 and counting that have ratified the Agreement – including 18 new signatures and 18 ratifications yesterday alone.
     
    The entry into force is within our sight.
     
    And I call on all remaining nations to join swiftly.
     
    We do not have a moment to lose.
     
    Finally, on seabed mining, we have a collective responsibility to proceed with great caution.
     
    I support the ongoing work of the International Seabed Authority on this important issue.
     
    As I said yesterday, the deep sea cannot become the Wild West.
     
    Ladies and gentlemen of the media,
     
    The urgency of this moment cannot be overstated.
     
    Ocean health is inseparable from human health, climate stability, and global prosperity.
     
    But I leave Nice energized and encouraged by the many pledges already made.
     
    Encouraged by island nations and Indigenous Peoples sharing their stories and expertise…
     
    Encouraged by young activists demanding action and accountability…
     
    Scientists developing innovative solutions for all…
     
    Business leaders investing in the blue economy…
     
    This is the global coalition we need.
     
    I urge everyone to step forward with decisive commitments and tangible funding.
     
    The ocean has given us so much.
     
    It is time we returned the favor.
     
    Our health, our climate, and our future depend on it.
     
    Thank you. Je vous remercie.
     
    Question: Secretary General, you warned against a wild west on deep sea mining. Beyond words, what specific actions would you like countries to take to either stop deep sea mining or put in place strong regulations?
     
    Secretary-General: Well, as I mentioned, there is an institution that has a key role to play, and is playing it, and I trust that they will be doing what is necessary to avoid the Wild West that I mentioned. It is the International Seabed Authority, and I think it’s extremely important not to have any kind of initiative that is beyond whatever will be established by the International Seabed Authority.
     
    Question: Mr. Secretary-General, you said we have to save the ocean. Are you happy with this conference? Do you think it will make a difference?
     
    Secretary-General: I think it is making a difference. There is one aspect that is particularly evident. UNCLOS, the United Nations Convention on the Law of the Sea, took 12 years to enter into force. We are two years from the BBNJ, and we have already, as of today, 49 ratifications [Editor’s Note: 50 including the EU] with 15 commitments to do it soon, which means that it will, in the next few months, reach the entry into force. That is a record – a little bit more than two years. So, I see a momentum and an enthusiasm that was difficult to find in the past.
     
    And the way this meeting was attended – not only by countries, but by civil society, by the business community, by indigenous communities, representing more than double those that came to the Lisbon conference that I attended two years ago – shows the very strong commitment made by countries in relation to enlarging the protection areas. All these shows a momentum that, to be honest, I had never witnessed in conferences of this type. Am I entirely happy? Of course not. I would like things to move much faster.
     
    And let’s not forget that there is a clear link between biodiversity, climate and marine protection. And in that clear link, we still have some dramatic gaps. And one of the most worrying ones is, of course, the impact of climate change on the oceans – the fact that the rising of sea levels is accelerating; the fact that waters are more and more warmer with acidification. We see the impacts in coastal areas. We see the corals bleaching, and we see that climate change became an extremely dramatic threat to the lives of our oceans. And there, I have to say, we are moving slowly, and I hope the COP in Belém will be able to provide the necessary acceleration.
     
    Question: You said that sustainable fishing was the only option left, but for small states like Sri Lanka that’s struggling with bottom trawling – a regional practice  – and IUU fishing [Illegal, unreported and unregulated], we don’t have the capacity to enforce and control external actors like that. What can the UN do to assist small states to protect its fish stocks and marine ecology?
     
    Secretary-General: I think we must develop forms, first of all, of accountability in relation to illegal fishing and in relation to the way fishing resources of developing countries are being exploited by a certain number of predators. So, there is a question of accountability, and we’ll be doing our best to increase the mechanisms of international accountability that for the moment – let us be clear – are extremely limited and inefficient.
     
    Question: CO2 emissions from fossil fuels are a double problem for the ocean because of acidification, and they are hitting the atmosphere and the ocean. At the same time, there’s a lot of oil industry activity that happens in the ocean, which is a continuing risk. What message and agreements do you expect to hear from the countries in this conference regarding the fossil fuel industry or is this not a subject right now in this conference?
     
    Secretary-General: I believe the energy transition will be more central in the COP meeting than in this meeting. But there are two things that, for me, are absolutely evident. First is that 85 per cent of the emissions correspond to fossil fuels. So the problem of climate change is essentially linked to fossil fuels. The second is that we are witnessing an energy transition that demonstrates that the cheapest way to produce energy is through renewables.
     
    You might have heard what I said about greed. There is a dramatic effort from the fossil fuel industry to distort the reality. But one thing for me is inevitable – the fossil fuel age is coming to an end, and the renewable age will be there as the age of the future. The problem is, will that be done on time? And what we need is to accelerate that transition.  And I hope that in the COP there will be a very strong message in this regard.
     
    Question: I wanted to ask if you have concerns generally about the 1.5 target slipping out from policymakers’ speeches as people come to accept that it’s not likely to be met. Are you concerned that people are moving ahead and starting to talk about 2 degrees? How do you keep up the message around 1.5 when the science looks certain that it will be passed?
     
    Secretary-General: I am concerned. Scientists are very clear when they tell us that the 1.5 degrees is still achievable as a limit to global warming. But they are also unanimous in saying that we are on the brink of a tipping point that might make it impossible. So there is a matter of urgency that is extremely important, and that is the reason of my concern. Until now, we have not seen enough urgency, enough speed in making things move fast, in energy transition and in other aspects that are essential to keep 1.5 degrees alive. A lot of progress is being seen, but not yet enough, and we must accelerate our transition. And this is, for me, the most important objective of the next COP, and of the pressure we are making at the present moment on countries to have Nationally Determined Contributions, the so-called national action plans, that are fully compatible with 1.5 degrees, which foresees until 2035 a dramatic reduction of emissions.
     

    ****

     
    LE SECRÉTAIRE GÉNÉRAL
    REMARQUES À LA PRESSE À LA CONFÉRENCE DES NATIONS UNIES POUR L’OCÉAN

     
     
    Bonjour à tous,
     
    Nous sommes à Nice en mission : sauver l’océan – pour sauver notre avenir.
     
    C’était le message que j’ai porté à l’ouverture de la Conférence hier.
    Et c’est le message que j’ai répété à chacune de mes rencontres ici.
     
    L’océan est le poumon de notre planète.
     
    Il produit la moitié de l’oxygène que nous respirons… nourrit des milliards de personnes… soutient des centaines de millions d’emplois… et fait tourner le commerce mondial.
     
    Mais pour beaucoup, l’océan est bien plus qu’une ressource.
     
    Il façonne des cultures. Il ancre des identités. Il nourrit l’âme humaine.
     
    Et pourtant, nous le traitons comme une ressource inépuisable – comme s’il pouvait absorber nos abus sans conséquences.
     
    Chaque année, les signes de détresse se multiplient.
     
    Les stocks de poissons s’effondrent sous l’effet de la pêche illégale et de la surexploitation.
     
    Le dérèglement climatique provoque l’acidification et le réchauffement des océans – détruisant les récifs de corail, accélérant la montée des eaux, et mettant en péril des communautés entières.
     
    La pollution plastique étouffe la vie marine et contamine notre alimentation – jusqu’à se retrouver dans notre sang… et même dans notre cerveau.
     
    En empoisonnant l’océan, c’est nous-mêmes que nous empoisonnons.
     
    Chers amis,
     
    Nous approchons un point de bascule – au-delà duquel tout retour en arrière pourrait devenir impossible.
     
    Soyons clairs : des intérêts puissants nous poussent dangereusement vers le précipice.
     
    Nous livrons un combat difficile, contre un ennemi bien identifié.
     
    Son nom, c’est la cupidité.
     
    Une cupidité qui sème le doute… nie la science… déforme la vérité… récompense la corruption… et détruit la vie au nom du profit.
     
    Nous ne pouvons pas laisser la cupidité dicter le sort de notre planète.
     
    C’est pourquoi nous sommes ici cette semaine : pour faire front ensemble face à ces forces – et reprendre ce qui appartient à toutes et à tous.
     
    Les gouvernements, les chefs d’entreprise, les pêcheurs, les scientifiques… chacun a une responsabilité, chacun a un rôle vital à jouer.
     
    Tout au long de la Conférence, j’ai mis en avant quatre priorités.
     
    Premièrement – nous devons transformer la manière dont nous récoltons les richesses de l’océan.
     
    La question n’est pas de pêcher ou non — mais de savoir comment nous pêchons.
     
    La pêche durable n’est pas une option – c’est notre seule voie possible.
     
    Cela exige une coopération internationale renforcée, une lutte implacable contre la pêche illégale, et une extension des aires marines protégées pour reconstituer les stocks et préserver la vie marine.
     
    Cela implique aussi de tenir l’objectif 30-30 : protéger et gérer au moins 30 % des zones marines et côtières d’ici 2030.
     
    Nous avons le devoir moral de transmettre aux générations futures des océans pleins de vie.
     
    Deuxièmement – nous devons combattre le fléau de la pollution plastique.
     
    Cela signifie éliminer progressivement les plastiques à usage unique, réformer les systèmes de gestion des déchets, et renforcer le recyclage.
     
    Tous les pays doivent conclure rapidement un traité mondial ambitieux et juridiquement contraignant pour mettre fin à la pollution plastique. Et nous espérons que cela se produira cette année.
     
    Troisièmement – la lutte contre le changement climatique doit aussi se mener en mer.
     
    Depuis des décennies, l’océan absorbe nos émissions de carbone et la chaleur d’une planète en surchauffe.
     
    Cela a un prix.
     
    À l’approche de la COP30 au Brésil, les pays doivent présenter des plans d’action climatique nationaux ambitieux.
     
    Des plans compatibles avec l’objectif de limiter la hausse des températures à 1,5 °C ;
     
    Qui couvrent toutes les émissions et l’ensemble de l’économie ;
     
    Et conformément aux engagements des pays à accélérer la transition énergétique mondiale, en saisissant les opportunités offertes par les énergies propres.
     
    L’an dernier, pour la première fois, la température mondiale annuelle a dépassé de 1,5 °C les niveaux préindustriels.
     
    Les scientifiques sont clairs : cela ne signifie pas que la limite de 1,5 °C est hors de portée.
     
    Cela signifie que nous devons redoubler d’efforts.
     
    L’océan en dépend — et nous aussi.
     
    J’appelle les pays à soutenir les solutions climatiques basées sur l’océan — comme la protection des mangroves, des herbiers marins et des récifs coralliens.
     
    Nous devons aussi accroître le soutien financier et technologique aux pays en développement – pour qu’ils puissent se protéger face aux phénomènes climatiques extrêmes, et répondre rapidement quand les catastrophes frappent.
     
    La survie des communautés côtières et des petits États insulaires en dépend.
     
    Quatrièmement – nous devons mettre en œuvre l’Accord sur la biodiversité marine des zones situées au-delà des juridictions nationales.
     
    L’ Accord est une avancée historique pour protéger d’immenses espaces marins.
     
    Je félicite les 134 pays qui l’ont signé, et les 49 – et c’est pas fini – qui l’ont déjà ratifié, dont 18 signatures et 18 ratifications enregistrées hier seulement.
     
    L’entrée en vigueur est à notre portée.
     
    J’en appelle à tous les autres États pour de les rejoindre sans attendre.
     
    Nous n’avons pas une minute à perdre.
     
    Enfin, sur l’exploitation minière des fonds marins, nous avons une responsabilité collective d’agir avec une extrême prudence.
     
    Je salue les travaux en cours de l’Autorité internationale des fonds marins sur cette question cruciale.
     
    Comme je l’ai dit hier, les grands fonds ne peuvent devenir le Far West des temps modernes.
     
    Mesdames et Messieurs les journalistes,
     
    L’urgence de ce moment ne peut être exagérée.
     
    La santé de l’océan est indissociable de la santé humaine, de la stabilité climatique et de la prospérité mondiale.
     
    Mais je quitte Nice plein d’énergie et d’espoir, porté par les nombreux engagements déjà pris.
     
    Porté par les récits et l’expertise des nations insulaires et des peuples autochtones…
     
    Par la détermination des jeunes militants qui exigent des comptes…
     
    Par les scientifiques qui inventent des solutions pour toutes et tous…
     
    Et par les acteurs économiques qui investissent dans une économie bleue durable.
     
    C’est cette coalition mondiale dont nous avons besoin.
     
    J’en appelle à chacun : engagez-vous avec clarté, avec ambition, et avec des financements concrets.
     
    L’océan nous a tant donné.
     
    Il est temps de lui rendre la pareille.
     
    Notre santé, notre climat et notre avenir en dépendent.
     
    Je vous remercie.
     

    MIL OSI United Nations News

  • Piyush Goyal deepens India–Switzerland trade ties, urges Swiss firms to invest under TEPA

    Source: Government of India

    Source: Government of India (4)

    Union Commerce and Industry Minister Piyush Goyal met with top Swiss business leaders in Bern on Monday to boost bilateral economic ties. The discussions, held under the framework of the recently signed Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA), focused on expanding cooperation in innovation, technology transfer, and sustainable manufacturing.

    During his visit, Goyal interacted with senior leadership from some of Switzerland’s most prominent companies spanning sectors such as biotechnology, precision engineering, healthcare, defence, and emerging technologies. The Minister extended an open invitation for Swiss firms to expand their footprint in India, highlighting the vast potential of India’s rapidly growing economy, youthful talent base, and favorable investment climate.

    Reaffirming India’s commitment to enabling global business, Goyal assured Swiss companies of a transparent regulatory framework, a robust intellectual property rights regime, and investor-friendly policies. He urged businesses to view India not merely as a large consumer market, but as a strategic hub for manufacturing, innovation, and global value chain integration.

    Goyal chaired two sector-focused roundtable discussions with Swiss industry leaders. The first session spotlighted Biotech, Pharma, and Healthcare, while the second addressed Precision Engineering, Defence, and Emerging Technologies. Both events were hosted with support from the Indian Embassy in Switzerland and showcased India’s growing reputation as a destination for affordable innovation and scalable production.

    The Minister highlighted the role of the EFTA Desk at Invest India, set up to provide facilitation support and handholding to potential Swiss investors. He emphasized India’s openness to working towards regulatory harmonization and mutual recognition agreements, further smoothing the path for Swiss-Indian partnerships.

    Beyond business interactions, Goyal also met with members of the Switzerland Chapter of the Institute of Chartered Accountants of India (ICAI). He praised the chapter for its efforts in promoting India’s professional excellence abroad and strengthening the India–Switzerland economic and professional networks.

    Swiss business leaders expressed robust confidence in India’s economic trajectory and its potential as a global innovation powerhouse. Commending India’s growing middle class, skilled workforce, and strong R&D capabilities, companies from a range of sectors voiced their intent to deepen engagement with India. Discussions touched on potential joint ventures, manufacturing localization, and co-development of high-tech solutions across fields such as cell sciences, cancer research, fibre optics, industrial automation, space technology, and cybersecurity.

    Many Swiss companies acknowledged India as a natural partner, describing the bilateral economic relationship as one of strategic alignment and long-term commitment. For them, India represents both a key market and a springboard for accessing international customers through integrated supply chains and co-created technologies.

  • MIL-OSI: Debt Pressure Building Up for Canadian Businesses

    Source: GlobeNewswire (MIL-OSI)

    – Delinquencies climb, credit demand dips, and regional cracks deepen –

    Equifax® Canada Market Pulse — Q1 2025 Quarterly Business Credit Trends and Insights Report

    TORONTO, June 10, 2025 (GLOBE NEWSWIRE) — After a cautiously optimistic end to 2024, Canadian businesses seem to have entered 2025 with trepidation. According to the Equifax® Canada Q1 2025 Business Credit Trends and Insights Report, delinquencies are rising for businesses across the country and credit demand is slowing, while key sectors are showing early signs of distress — especially those tied closely to consumer trends, with delinquency rates not seen since 2009.

    The Canadian Small Business Health Index1, a benchmark of business credit health and business sentiment, dropped to 99.3 in Q1 2025, a 1.5 per cent decline from the previous quarter. While still slightly above its year-ago level, the dip signals a loss of momentum following gains made late last year.

    Alongside rising delinquencies, Equifax data shows a noticeable slowdown in credit demand, as fewer businesses applied for new credit in Q1 2025, a decline of six per cent when compared to the same time period in 2024. Lower new originations and growing balances could signal growing caution among small business owners, many of whom could be choosing to manage existing debt rather than take on new risk, even with interest rates easing and inflation stabilizing.

    “The Canadian Small Business Health Index shows that business sentiment is down three per cent in Q1 2025 compared to the previous quarter,” noted Jeff Brown, Head of Commercial Solutions at Equifax Canada. “The early months of 2025 are revealing the pressures the business landscape could be facing. Many businesses are caught in a squeeze from both slowing household consumption on one hand and growing business debt stress on the other.”

    Credit Warning Signs Widen
    In Q1 2025, over 309,000 businesses — 11.3 per cent of credit active businesses — missed at least one credit payment. This marks a 14.6 per cent year-over-year increase in business delinquencies and highlights the growing financial strain across sectors.

    _______________________________

    1 The Canadian Small Business Health Index provides a holistic view of Canadian business conditions by combining data collected by Equifax Canada, Business Development Bank of Canada, Statistics Canada and the Bank of Canada.

    Accommodation & Food Services and Retail Sector Missing Payments
    The impact is particularly acute in Accommodation & Food Services, where missed payments jumped to 16.9 per cent, and in Retail Trade, where the rate hit 13.2 per cent. Both sectors are likely suffering from weak consumer spending, rising operating costs, and growing household debt levels. Average monthly consumer credit card spend2 per cardholder fell by 107 dollars during Q1, dropping to the lowest level since March 2022.

    “This seems to be a classic ripple effect,” said Brown. “Equifax data suggests when households pull back, restaurants, retailers and local service providers feel it first — and hardest. This can then travel up the supply chain, where everyone from manufacturers to transport companies feel its effects.”

    Businesses Prioritize Suppliers Over Lenders
    Delinquency trends suggest a shift in how businesses are managing limited cash flow. The 60+ day delinquency rate for financial trade (loans, lines of credit) rose from 3.0 per cent to 3.4 per cent, a 15.5 per cent increase year-over-year. In contrast, industrial trade delinquencies (typically money owed to suppliers) rose more modestly, from 5.5 per cent to 5.7 per cent.

    “Businesses are paying suppliers, but with little to spare, they may be missing banking obligation payments. This may signal that businesses are strategically recalibrating, with many businesses prioritizing supplier relationships to keep operations moving,” added Brown.

    Regional Flashpoints in PEI, Quebec, Ontario and British Colombia
    While delinquencies are rising nationwide, some provinces and industries are flashing red:

    • Ontario and British Columbia led the country in financial trade arrears, up 18.8 per cent and 19.9 per cent year-over-year, respectively.

    • Quebec and Prince Edward Island posted unusually sharp increases in industrial trade delinquencies, up 26.6 per cent and 15.9 per cent year-over-year, respectively, signaling localized stress in supplier-based credit relationships.


    Certain sectors are showing strain

    Sectors showing double-digit increases in year-over-year missed payments include Agriculture (+19.5 per cent), Transportation & Warehousing (+19.3 per cent), Real Estate (+17.0 per cent), Finance & Insurance (+16.4 per cent), and Manufacturing (+10.2 per cent).


    “Businesses across the country and across a variety of industries are showing increased vulnerabilities as broader economic uncertainty continues,” noted Brown. “Businesses will continue to need resilience and careful planning to navigate this economic environment.”

    _______________________________

    2 Average monthly consumer credit card spend comparisons have been adjusted for inflation.

    Province Analysis – 60+ days Delinquency Rates (Account Level)

    Province Delinquency Rate :
    Financial Trades
    (Q1 2025)
    Delinquency Rate
    Change: Financial
    Trades
    (Q1 2025 vs. Q1
    2024)
    Delinquency Rate:
    Industrial Trades
    (Q1 2025)
    Delinquency Rate Change:
    Industrial Trades
    (Q1 2025 vs. Q1 2024)
    Ontario 3.71% 18.85% 5.63% 4.97%
    Quebec 3.49% 13.31% 4.59% 26.55%
    Nova Scotia 2.47% 1.06% 6.19% 8.05%
    New Brunswick 2.82% 5.17% 4.73% -6.22%
    PEI 2.37% 0.34% 4.45% 15.90%
    Newfoundland 2.71% -1.15% 4.90% -12.19%
    Eastern Region 3.58% 16.67% 5.21% 12.51%
    Alberta 3.49% 8.90% 7.07% -13.30%
    Manitoba 3.10% 16.43% 4.54% -1.60%
    Saskatchewan 2.79% -0.11% 6.47% 3.36%
    British Columbia 2.94% 19.93% 6.56% -10.66%
    Western Region 3.17% 13.00% 6.50% -9.74%
    Canada 3.44% 15.50% 5.69% 3.52%
             

    * Based on Equifax data for Q1 2025

    About Equifax
    At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.ca.

    Contact:

    Andrew Findlater
    SELECT Public Relations
    afindlater@selectpr.ca
    (647) 444-1197

    Angie Andich
    Equifax Canada Media Relations
    MediaRelationsCanada@equifax.com

    The MIL Network

  • MIL-OSI United Nations: Secretary-General’s opening remarks at press conference at Ocean Conference [Full q and a to come. scroll down for French]

    Source: United Nations secretary general

     

    Good morning,

    We are in Nice on a mission – save the ocean, to save our future.

    That was my message at the Conference opening yesterday, and it is the message I have carried through all my meetings.

    The ocean is the lifeblood of our planet.

    It produces half of the oxygen we breathe, nourishes billions of people, supports hundreds of millions of jobs, and underpins global trade.

    For many, the ocean is more than a source of food and livelihood.

    It shapes cultures…anchors identities… and feeds the soul.

    Yet, we are treating it like a limitless resource – pretending it can absorb our abuse without consequence.

    Every year, we see more troubling signs that our ocean is under siege.

    Fish populations are collapsing due to reckless illegal fishing and overexploitation.

    Climate change is driving ocean acidification and heating – destroying coral reefs, accelerating sea level rise, and threatening communities worldwide.

    And plastic pollution is choking marine life and infesting our food chain – ultimately ending up in our blood and even our brains.

    When we poison the ocean, we poison ourselves.

    Dear friends,

    There’s a tipping point approaching – beyond which recovery may become impossible.

    And let us be clear:

    Powerful interests are pushing us towards the brink.

    We are facing a hard battle, against a clear enemy.

    Its name is greed.

    Greed that sows doubt… denies science… distorts truth… rewards corruption… and destroys life for profit.

    We cannot let greed dictate the fate of our planet.

    That is why we are here this week: to stand in solidarity against those forces and reclaim what belongs to us all.

    Governments, business leaders, fishers, scientists…  everyone has a responsibility and a vital role to play.

    Throughout my many engagements at the Conference, I have highlighted four priorities.

    First – we must transform how we harvest the ocean’s bounty.

    It is not about fishing, it’s about how we fish.

    Sustainable fishing is not a choice – it is our only option.

    This means stronger global cooperation, strict enforcement against illegal fishing, and expanded protected areas to rebuild stocks and safeguard marine life.

    And it means delivering on the 30 by 30 target – to conserve and manage at least 30 per cent of marine and coastal areas by 2030.

    We have a moral duty to ensure future generations inherit oceans swarming with life.

    Second – we must confront the plague of plastic pollution.

    This means phasing out single-use plastics, overhauling waste systems, and boosting recycling.

    All countries must quickly finalize an ambitious, legally binding global treaty to end plastic pollution. And we hope that this will happen this year.

    Third – the fight against climate change must extend to the seas.

    For decades, the ocean has been absorbing carbon emissions and taking the heat of a warming planet.

    That comes at great cost.

    As we prepare for COP30 in Brazil, countries must present ambitious national climate action plans.

    These plans must align with limiting the rise in global temperature to 1.5 degrees Celsius;

    Cover all emissions and the whole economy;

    And in line with the commitments countries have made to accelerate the global energy transition and seize the benefits of clean power.

    Last year, for the first time, the annual global temperature was 1.5°C hotter than pre-industrial times.

    Scientists are clear: that does not mean that the long-term global temperature rise limit to 1.5 degrees is out of reach.

    It means we need to fight harder.

    The ocean depends on it – and so do we.

    I urge countries to champion ocean-based climate solutions – like protecting mangroves, seagrass beds, and coral reefs.
     
    We must also increase financial and technological support to developing countries – so that they can protect themselves from extreme weather and respond when disasters strike.

    The survival of coastal communities and Small Island Developing States depends on it.

    And fourth – we must implement the recent Agreement on Marine Biodiversity of Areas Beyond National Jurisdiction.

    The Agreement is a historic step towards protecting vast areas of our ocean.

    I congratulate the 134 countries that have signed and the 49 and counting that have ratified the Agreement – including 18 new signatures and 18 ratifications yesterday alone.

    The entry into force is within our sight.

    And I call on all remaining nations to join swiftly.

    We do not have a moment to lose.

    Finally, on seabed mining, we have a collective responsibility to proceed with great caution.

    I support the ongoing work of the International Seabed Authority on this important issue.

    As I said yesterday, the deep sea cannot become the Wild West.

    Ladies and gentlemen of the media,

    The urgency of this moment cannot be overstated.

    Ocean health is inseparable from human health, climate stability, and global prosperity.

    But I leave Nice energized and encouraged by the many pledges already made.

    Encouraged by island nations and Indigenous Peoples sharing their stories and expertise…

    Encouraged by young activists demanding action and accountability…

    Scientists developing innovative solutions for all…

    Business leaders investing in the blue economy…

    This is the global coalition we need.

    I urge everyone to step forward with decisive commitments and tangible funding.

    The ocean has given us so much.

    It is time we returned the favor.

    Our health, our climate, and our future depend on it.

    Thank you. Je vous remercie.

    ****

     

     

    Bonjour à tous,

    Nous sommes à Nice en mission : sauver l’océan – pour sauver notre avenir.

    C’était le message que j’ai porté à l’ouverture de la Conférence hier.
    Et c’est le message que j’ai répété à chacune de mes rencontres ici.

    L’océan est le poumon de notre planète.

    Il produit la moitié de l’oxygène que nous respirons… nourrit des milliards de personnes… soutient des centaines de millions d’emplois… et fait tourner le commerce mondial.

    Mais pour beaucoup, l’océan est bien plus qu’une ressource.

    Il façonne des cultures. Il ancre des identités. Il nourrit l’âme humaine.

    Et pourtant, nous le traitons comme une ressource inépuisable – comme s’il pouvait absorber nos abus sans conséquences.

    Chaque année, les signes de détresse se multiplient.

    Les stocks de poissons s’effondrent sous l’effet de la pêche illégale et de la surexploitation.

    Le dérèglement climatique provoque l’acidification et le réchauffement des océans – détruisant les récifs de corail, accélérant la montée des eaux, et mettant en péril des communautés entières.

    La pollution plastique étouffe la vie marine et contamine notre alimentation – jusqu’à se retrouver dans notre sang… et même dans notre cerveau.

    En empoisonnant l’océan, c’est nous-mêmes que nous empoisonnons.

    Chers amis,

    Nous approchons un point de bascule – au-delà duquel tout retour en arrière pourrait devenir impossible.

    Soyons clairs : des intérêts puissants nous poussent dangereusement vers le précipice.

    Nous livrons un combat difficile, contre un ennemi bien identifié.

    Son nom, c’est la cupidité.

    Une cupidité qui sème le doute… nie la science… déforme la vérité… récompense la corruption… et détruit la vie au nom du profit.

    Nous ne pouvons pas laisser la cupidité dicter le sort de notre planète.

    C’est pourquoi nous sommes ici cette semaine : pour faire front ensemble face à ces forces – et reprendre ce qui appartient à toutes et à tous.

    Les gouvernements, les chefs d’entreprise, les pêcheurs, les scientifiques… chacun a une responsabilité, chacun a un rôle vital à jouer.

    Tout au long de la Conférence, j’ai mis en avant quatre priorités.

    Premièrement – nous devons transformer la manière dont nous récoltons les richesses de l’océan.

    La question n’est pas de pêcher ou non — mais de savoir comment nous pêchons.

    La pêche durable n’est pas une option – c’est notre seule voie possible.

    Cela exige une coopération internationale renforcée, une lutte implacable contre la pêche illégale, et une extension des aires marines protégées pour reconstituer les stocks et préserver la vie marine.

    Cela implique aussi de tenir l’objectif 30-30 : protéger et gérer au moins 30 % des zones marines et côtières d’ici 2030.

    Nous avons le devoir moral de transmettre aux générations futures des océans pleins de vie.

    Deuxièmement – nous devons combattre le fléau de la pollution plastique.

    Cela signifie éliminer progressivement les plastiques à usage unique, réformer les systèmes de gestion des déchets, et renforcer le recyclage.

    Tous les pays doivent conclure rapidement un traité mondial ambitieux et juridiquement contraignant pour mettre fin à la pollution plastique. Et nous espérons que cela se produira cette année.

    Troisièmement – la lutte contre le changement climatique doit aussi se mener en mer.

    Depuis des décennies, l’océan absorbe nos émissions de carbone et la chaleur d’une planète en surchauffe.

    Cela a un prix.

    À l’approche de la COP30 au Brésil, les pays doivent présenter des plans d’action climatique nationaux ambitieux.

    Des plans compatibles avec l’objectif de limiter la hausse des températures à 1,5 °C ;

    Qui couvrent toutes les émissions et l’ensemble de l’économie ;

    Et conformément aux engagements des pays à accélérer la transition énergétique mondiale, en saisissant les opportunités offertes par les énergies propres.

    L’an dernier, pour la première fois, la température mondiale annuelle a dépassé de 1,5 °C les niveaux préindustriels.

    Les scientifiques sont clairs : cela ne signifie pas que la limite de 1,5 °C est hors de portée.

    Cela signifie que nous devons redoubler d’efforts.

    L’océan en dépend — et nous aussi.

    J’appelle les pays à soutenir les solutions climatiques basées sur l’océan — comme la protection des mangroves, des herbiers marins et des récifs coralliens.

    Nous devons aussi accroître le soutien financier et technologique aux pays en développement – pour qu’ils puissent se protéger face aux phénomènes climatiques extrêmes, et répondre rapidement quand les catastrophes frappent.

    La survie des communautés côtières et des petits États insulaires en dépend.

    Quatrièmement – nous devons mettre en œuvre l’Accord sur la biodiversité marine des zones situées au-delà des juridictions nationales.

    L’ Accord est une avancée historique pour protéger d’immenses espaces marins.

    Je félicite les 134 pays qui l’ont signé, et les 49 – et c’est pas fini – qui l’ont déjà ratifié, dont 18 signatures et 18 ratifications enregistrées hier seulement.

    L’entrée en vigueur est à notre portée.

    J’en appelle à tous les autres États pour de les rejoindre sans attendre.

    Nous n’avons pas une minute à perdre.

    Enfin, sur l’exploitation minière des fonds marins, nous avons une responsabilité collective d’agir avec une extrême prudence.

    Je salue les travaux en cours de l’Autorité internationale des fonds marins sur cette question cruciale.

    Comme je l’ai dit hier, les grands fonds ne peuvent devenir le Far West des temps modernes.

    Mesdames et Messieurs les journalistes,

    L’urgence de ce moment ne peut être exagérée.

    La santé de l’océan est indissociable de la santé humaine, de la stabilité climatique et de la prospérité mondiale.

    Mais je quitte Nice plein d’énergie et d’espoir, porté par les nombreux engagements déjà pris.

    Porté par les récits et l’expertise des nations insulaires et des peuples autochtones…

    Par la détermination des jeunes militants qui exigent des comptes…

    Par les scientifiques qui inventent des solutions pour toutes et tous…

    Et par les acteurs économiques qui investissent dans une économie bleue durable.

    C’est cette coalition mondiale dont nous avons besoin.

    J’en appelle à chacun : engagez-vous avec clarté, avec ambition, et avec des financements concrets.

    L’océan nous a tant donné.

    Il est temps de lui rendre la pareille.

    Notre santé, notre climat et notre avenir en dépendent.

    Je vous remercie.

    MIL OSI United Nations News

  • MIL-OSI NGOs: Israel/OPT: West Bank military operation part of ‘ruthless apartheid system’ – new briefing

    Source: Amnesty International –

    Israel’s military operation over the past four months has led to the largest displacement of Palestinians in the West Bank

    The Israeli military has declared Jenin, Nur Shams, and Tulkarem refugee camps closed military zones, blocking residents from reaching their homes or what remains of them

    ‘If they let us return, even those whose homes haven’t been entirely destroyed will need months to rehabilitate these homes, due to the heavy destruction and damage to the structures’ – Nihad Shaweesh

    ‘These actions are part of a wider pattern of unlawful Israeli policies and practices to dispossess, dominate and oppress Palestinians in the West Bank under Israel’s ruthless system of apartheid’ – Erika Guevara Rosas

    The Israeli military has displaced tens of thousands of Palestinians by destroying homes and essential civilian infrastructure in Jenin and Tulkarem refugee camps rendering them uninhabitable, as part of its ongoing brutal military operation in the occupied West Bank, said Amnesty International. 

    On 5 June, Palestinians mark Naksa Day, commemorating the forced displacement of approximately 300,000 Palestinians during the June 1967 war, when Israel occupied the West Bank, including East Jerusalem, and the Gaza Strip. Fifty-eight years on, Israel’s military operation over the past four months has led to the largest displacement of Palestinians in the West Bank since then.

    The Israeli army has deployed tanks, carried out air strikes, destroyed buildings, dug up roads and infrastructure, and imposed extensive restrictions on freedom of movement through checkpoints and roadblocks. According to the Palestinian Ministry of Health, between 21 January and 4 June, the Israeli forces have killed at least 80 Palestinians, including 14 children, in the northern West Bank, including Nablus.

    Erika Guevara Rosas, Amnesty International’s Senior Director for Research, Advocacy, Policy and Campaigns, said:

    “Israel’s deadly military operation in the occupied West Bank, unfolding in the horrific shadow of its ongoing genocide in the occupied Gaza Strip, has had catastrophic consequences for tens of thousands of displaced Palestinians who are facing a rapidly escalating crisis with no foreseeable prospects of return. Unlawful transfer of protected persons is a grave breach of the Fourth Geneva Convention and a war crime.

    “Israel must immediately halt illegal practices leading to the forced displacement of Palestinians, including attacks on residential areas, destruction of property and infrastructure, pervasive access and movement restrictions imposed on Palestinians.

    “These actions are part of a wider pattern of unlawful Israeli policies and practices to dispossess, dominate and oppress Palestinians in the West Bank under Israel’s ruthless system of apartheid.

    “The international community’s persistent failure to hold Israel accountable for its violations against Palestinians, in particular for its cruel system of apartheid and unlawful occupation has emboldened Israel and fueled further egregious violations of Palestinians’ rights.”

    40,000 residents have been displaced

    Members of popular committees of Jenin, Nur Shams and Tulkarem refugee camps told Amnesty an estimated 40,000 residents have been displaced, half of whom are from Jenin refugee camp. 

    Video footage verified by Amnesty provides evidence of wide-scale home demolitions and damage to civilian property and infrastructure in the camps. Arrests have also soared, with the Palestinian Commission of Detainees reporting approximately 1,000 Palestinians arrested in Jenin (700) and Tulkarem (300) since the operation began.

    The Israeli military has declared Jenin, Nur Shams and Tulkarem refugee camps closed military areas, with forces stationed there, actively preventing residents from accessing their homes or what’s left of them. Witnesses said that Israeli forces shoot at civilians who attempt to go back even just to check on their properties or collect belongings.

    In a stark example, on 21 May, a diplomatic delegation of representatives from over 20 countries, including the UK, France, Canada, China and Russia, came under fire from Israeli soldiers while visiting Jenin refugee camp.

    ‘Most destructive’ operation in decades

    Israel’s military operation started in Jenin Refugee Camp on 21 January, and expanded to Tulkarem refugee camps on 27 January, and subsequently to Tammoun town and Al-Far’ah refugee camp. While Israeli forces withdrew from Al-Far’ah on 12 February, they continue to be stationed in Jenin and Tulkarem.

    In an alarming development on 23 February Israeli tanks were deployed to Jenin for the first time in more than 20 years. On the same day Israel’s Defense Minister instructed the army to “prepare for a long stay in the camps that were cleared” and to prevent residents from returning. Israeli media, citing military sources, have reported that the operation is expected to last for months with hundreds of soldiers remaining in the camps for “monitoring”. 

    On 22 March 2025, UNRWA had already described the operation as “by far the longest and most destructive operation in the occupied West Bank since the second intifada in the 2000’s.”

    Home demolitions and destruction of infrastructure

    The Israeli military has relentlessly destroyed hundreds of homes in these camps and adjacent neighborhoods during military operations or with demolition orders. The Palestinian Center for Human Rights reports that in the Jenin refugee camp alone, the Israeli army fully destroyed hundreds of homes and damaged many more rendering them uninhabitable. In March, Israel announced plans to demolish 66 homes in Jenin camp. More recently, on 1 May, the Israeli army issued further demolition orders for 106 homes in Tulkarem refugee camps – 48 in Nur Shams and 58 in Tulkarem camp.

    Amnesty’s Crisis Evidence Lab verified 25 videos shared on social media by residents or soldiers showing destruction of civilian property by Israeli forces in Jenin, Tulkarm, and Nur Shams refugee camps between 31 January and 1 June 2025. The footage shows numerous structures demolished with manually laid explosives, roads, buildings and cars destroyed with bulldozers and the aftermath of the destruction with civilian property reduced entirely to rubble. In many cases, Israeli forces appear to have conducted clearing operations, removing buildings to widen or create new roads.

    Amnesty also analysed 32 additional videos and photographs provided directly by Palestinians residents, which document damage to homes and personal property. The images show destroyed interiors, including shattered windows, broken furniture, damaged doors, ransacked closets, scattered personal belongings, and leftover food strewn across rooms.

    Nihad Shaweesh of the Nur Shams popular committee, said:

    “The level of destruction in the camps is so massive that it will take months before they are inhabitable again. If they let us return, even those whose homes haven’t been entirely destroyed will need months to rehabilitate these homes, due to the heavy destruction and damage to the structures.”

    A mother of six from Jenin Refugee Camp, whose name has been withheld for security reasons, described how she received photos on her phone showing her home being completely destroyed. She said:

    “I opened the photos and immediately recognised my children’s bed sheets. I couldn’t believe that was my house in the photos. They demolished the house and wrecked our SUV. Our car was nothing but a mass of metal. I was in shock. I couldn’t speak and only kept crying.”

    A resident of Nur Shams, Ibraheem Khalifa, described how his family was forcibly displaced on 9 February and the subsequent demolition of their apartment building:

    “We arrived … to witness the demolitions of our neighbours’ homes and to be present with them [in solidarity]. However, while sitting there, we realised that the [military] bulldozer started to demolish our homes as well. These are apartments we built with our own hands. There, we grew up and made memories. In this house, we got married, held celebrations, went through sorrows – everything. This house witnessed it all. Now, our homes and all of our belongings in them are gone.”

    As part of the operation Israeli forces have also systematically destroyed critical infrastructure, including roads, water, electricity, and communications networks. The Palestinian Red Crescent Society confirmed the widespread destruction of roads and streets within the refugee camps.

    Militarisation of camps and restrictions on freedom of movement

    Access to the refugee camps for residents and freedom of movement have also been severely curtailed with Israeli forces blocking entrances and main roads with metal gates or checkpoints and using military bulldozers to create dirt barriers and barbed-wire fences.

    One resident of Nur Shams, Fatima Ali, described how on 9 February, Israeli forces took over her home and converted it to a military outpost. She said they raided her home, forcing her brother’s family to leave while she, being ill and unable to walk due to destroyed streets, was confined to one room as her house was turned into a temporary military outpost:

    “You can see all directions from my house, I have a balcony and a door to the West and another to the North, so they [soldiers] came and occupied it. At first, they kept me inside, locked in one room. When they arrested someone, they brought him to my house. They told me to leave hours later, and I needed the emergency services to help me leave the camp because all the streets were dug up and destroyed.”

    The military operation has also infringed on other social and economic rights including the right to education with many children missing weeks of school. In Tulkarem, more than 691 businesses have been destroyed, damaged and remain shut down.

    Qais Awad of the Tulkarem Chamber of Commerce, said:

    “Tulkarem became a ghost town. Businesses in the city close at 6pm because there are no visitors or customers coming from outside. Tulkarem farmers cannot reach their agricultural lands and workers cannot leave due to the closure of checkpoints. The economic situation in the city is catastrophic.”

    MIL OSI NGO

  • MIL-OSI Submissions: Research – Choice Overload: Why More Options Lead to Worse Decisions

    Source: Open Researchers Alliance for International Drivers Association

    Psychological Basis of Choice Overload

    Choice overload, a prevalent cognitive bias in decision-making, occurs when individuals face too many options, leading to anxiety and stress. The brain struggles to process and evaluate a large number of choices, and this phenomenon is closely linked to the “Paradox of Choice,” which suggests that while options are generally beneficial, an excess can paralyze decision-making and induce dissatisfaction. This mental strain is associated with decision fatigue, where cognitive resources are depleted from repeatedly choosing among numerous alternatives. As a result, stress levels increase, and decision-making becomes more complex, often leading to decision paralysis or regret.

    When individuals perceive options as similar, the analysis of potential outcomes becomes intricate and burdensome, further complicating decision-making. The psychological basis of choice overload is rooted in the limitations of human cognitive processing and inherent biases that arise when overwhelmed by choices.

    Research and Studies

    Over the past two decades, choice overload has been extensively studied in consumer behavior research. A literature review spanning 22 years and 92 articles highlights the circumstances under which choice overload occurs. The phenomenon suggests that too many options can lead to decreased satisfaction with choices or inability to decide. Studies demonstrate that choice complexity and factors like preference uncertainty significantly affect choice overload experiences.

    Notably, even with fewer options, some choice sets can cause overload if choices are complex or not easily comparable. Conversely, larger sets may not always lead to overload if there is a clearly dominant option or attractive choices. Research shows that choice overload varies depending on context and individual differences. Identifying specific conditions that mitigate or exacerbate choice overload offers valuable insights for consumers and marketers in navigating complex decision landscapes.

    Factors Contributing to Choice Overload

    Understanding the factors contributing to choice overload is crucial for improving decision-making.

    Perceptual Attributes and Information Load

    The complexity of perceptual attributes and the volume of information contribute to choice overload. As attributes describing options increase, so does the difficulty of decision tasks. The arrangement and presentation of options also influence decision-making by affecting how information is processed.

    Choice Set Complexity

    Choice set complexity amplifies choice overload. Factors like dominant options, overall attractiveness, and alignability of choices affect how assortment size impacts choice overload. Higher complexity makes it harder to distinguish between options, increasing anxiety and uncertainty.

    Decision Task Difficulty and Preference Uncertainty

    Decision task difficulty and preference uncertainty are pivotal factors. More challenging tasks and uncertain preferences increase the likelihood of choice overload, as they require greater cognitive effort, overwhelming individuals.

    Brand Association and Decision Goals

    Brand associations and decision goals moderate the impact of assortment size on choice overload. Strong brand associations can simplify or complicate decisions, depending on alignment with consumer preferences. Decision intent—choosing or browsing—also influences choice overload experiences.

    Impacts on Consumer Behavior

    Despite the promise of greater freedom, an abundance of choices often leads to decision paralysis and decreased satisfaction. Choice overload manifests in various ways, impacting buying decisions and overall satisfaction. Consumers may experience analysis paralysis, where evaluating all outcomes leads to indecision, resulting in abandoned purchases due to overanalysis and fear of making the wrong choice.

    The emotional and cognitive toll of choice overload ext

    MIL OSI – Submitted News

  • MIL-OSI United Kingdom: New carbon footprint estimates for key agricultural enterprises

    Source: Scottish Government

    An official statistics in development publication for Scotland

    New average carbon footprint estimates for beef, sheep, milk and cereal production in Scotland have been released. These are average emission intensity estimates for enterprises (activities) on farms in the Farm Business Survey.

    In 2023-24 the average beef emission intensity for livestock farm types in the Farm Business Survey ranged from 30.9 to 32.8 kgCO2e/kg dwt. Average sheep emission intensity was higher on Less Favoured Area sheep farms (35.5 kgCO2e/kg dwt) than on lowland cattle and  sheep farms (25.2 kgCO2e/kg dwt). On dairy farms, the average emission intensity for milk production was 1.3 kgCO2e/kg FPC milk in 2023-24. This is an increase of 2% from the previous year, as average milk yields fell. Lower productivity is associated with higher emission intensities.

    Emission intensity for cereals production in 2023-24 increased on cereal (by 14% to 258 kgCO2e/tonne crop) and general cropping farms (by 7% to 241 kgCO2e/tonne crop), compared with the previous year. The rise was mostly driven by increased emissions from fertiliser and manure. Fertiliser usage rates rose in 2023-24 as prices fell from their peak in 2022-23.

    The report includes estimates of total emissions for agricultural sub-sectors. While total agriculture emissions continued at their lowest levels in 2023 at around 7.5 MtCO­2e, arable farming saw the largest increase in emissions (by 5% to 1.5 MtCO2e). Emissions for suckler beef, dairy, sheep and dairy beef sub-sectors fell by 1% each, compared with the previous year.

    Estimates of nitrogen use at farm level show an increase in nitrogen balance (input minus output) and a decrease in nitrogen use efficiency on the average farm compared to the previous year. Similar results are seen for most farm types and generally driven by increased fertiliser and high energy feed inputs. Falling cereal outputs, where lower yields can lead to nitrogen accumulation in the soil, also drove increases in nitrogen balance.

     

    Background

    The full statistical publication with supporting data tables is available at:

    Scottish agriculture greenhouse gas emissions and nitrogen use: 2023-24

    Results for the agriculture sector, along with national greenhouse gas emissions, were released in the publication. The report includes new subsector analysis based on methodology developed by SRUC . Subsector analysis allocates total Scottish Greenhouse Gas Statistics emissions from agriculture to subsectors that align more closely with agricultural enterprises.

    Farm level results are calculated from the 2023-24 Farm Business Survey, which covered the 2023 cropping year and the 2023-24 financial year. The Farm Business Survey is an annual survey of approximately 400 commercial farms with economic activity of at least approximately £20,000. Farms which do not receive support payments, such as pigs, poultry and horticulture, are not included in the survey. On-farm emissions are estimated using a life cycle assessment (LCA) based carbon calculator (Agrecalc). Enterprise estimates are not weighted to the 2023 June Agricultural Census and represent sample averages of farms in Farm Business Survey. Nitrogen estimates are based on standard estimates of nitrogen content in all farm inputs and outputs where possible.

    More information is available at: Methodology

    The data are designated as official statistics in development. They are being released to involve users in our assessment of the suitability and quality of the data.

    We would like to hear about your use of this data, please get in touch with us at agric.stats@gov.scot.

    For the latest statistics news follow us on Twitter @SGRESAS.

    Official statistics are produced in accordance with the Code of Practice for Statistics

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Local Economic Partnership launch marks milestone in borough’s economic development strategy

    Source: Northern Ireland City of Armagh

    Lord Mayor, Alderman Stephen Moutray and Chief Executive Roger Wilson OBE at the launch of the new Local Economic Partnership. Pictured with (L-R) Michelle Craig (DfE), Ian Snowden (Permanent Secretary of DfE) and Ethna McNamee (Invest NI)

    Armagh City, Banbridge and Craigavon Borough Council successfully hosted the inaugural meeting of the new Local Economic Partnership (LEP) on Monday 9th June at The Palace Demesne, Armagh, marking a significant step forward in the borough’s drive to strengthen economic growth and collaboration.

    The meeting brought together a broad and diverse group of stakeholders to lay the foundation for the newly established partnership, which is being supported by £4.5 million in funding from the Department for the Economy (DfE) over the next three years.

    The LEP aims to identify key barriers to economic development across the borough and to co-design and deliver interventions that enhance the region’s value proposition, support local enterprise, and promote innovation and skills development.

    The Partnership includes four elected members—Alderman Paul Greenfield, Councillor Joy Ferguson, Councillor Kevin Savage and Councillor Kyle Savage —along with representatives from Southern Regional College (SRC), Business Partnership Alliance (BPA), Labour Market Partnerships (LMP), Community Planning, Invest Northern Ireland, and the Department for the Economy.

    Reflecting on the launch of the LEP, Lord Mayor of Armagh City, Banbridge and Craigavon, Alderman Stephen Moutray, said: “The first meeting of the ABC Local Economic Partnership was a defining moment for our Borough. We are now in a stronger position than ever to work hand-in-hand with our partners to unlock potential, boost competitiveness, and build a sustainable economy that serves everyone in our communities.”

    Ian Snowden, Permanent Secretary of the Department for the Economy, attended the event to mark this important milestone, and said: “One of the Minister for the Economy’s four priorities is achieving better regional balance to make sure that all areas share in greater economic prosperity.  Local Economic Partnerships are the centrepiece of our Sub-Regional Economic Plan.  They will identify the main barriers to economic development and the interventions that will help to unlock the area’s potential.  The Department is providing the Partnerships with dedicated funding to support their work.”  

    The Council reaffirmed its commitment to supporting economic development through strategic collaboration and long-term investment, ensuring that the Armagh City, Banbridge and Craigavon Borough remains a thriving hub for business, innovation, and opportunity.

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Football betting firm boss banned after company went into administration owing investors more than £10 million

    Source: United Kingdom – Executive Government & Departments

    Press release

    Football betting firm boss banned after company went into administration owing investors more than £10 million

    The company was making substantial losses when it accepted additional investment from bondholders it was never going to be able to repay

    • Former sports presenter Alan Bentley has received an 11-year directorship ban after his football betting firm collapsed owing investors over £10 million, having continued to collect £1.5 million in investments despite no evidence of trading activity 

    • His company, Bentley Global (UK) Limited, promised investors returns of up to 20% by using a football betting algorithm, but financial records showed trading losses of millions of pounds with no recorded turnover 

    • Insolvency Service investigations found that the company had “no reasonable prospect” of repaying investors despite continuing to accept their money 

    The founder of a football betting investment firm has been banned as a director after his company went into administration owing investors more than £10 million. 

    Former television presenter Alan Bentley allowed his Bentley Global (UK) Limited company to obtain more than £1.5 million from investors during late 2019 and the first half of 2020, promising returns of up to 20%. 

    Investors’ funds were to be used to place bets on the outcomes of football matches using an artificial intelligence algorithm called Algol88.  

    However, no evidence was produced that Bentley Global (UK) Limited was actually betting on football matches in that period. 

    Bentley Global (UK) Limited also had no known source of trading income in that time, having suffered losses of more than £5 million by August 2019 and over £4 million by August 2018. 

    The 63-year-old, of Ongar Road, Kelvedon Hatch, Essex, has been banned as a company director for 11 years. 

    Bentley’s brother, Brian Bentley, was also disqualified as a company director in 2024 for misconduct while he was a director at Bentley Global (UK) Limited. 

    Brian Bentley, 62, of Anchorage Lane, Doncaster, was banned as a director for six years, with his disqualification running until April 2030. 

    Kevin Read, Chief Investigator at the Insolvency Service, said: 

    Alan Bentley’s company secured more than £1.5 million from hundreds of investors under a bond investment scheme during a nine-month period in 2019 and 2020 when there was no evidence of any trading. 

    Bentley knew the company had made huge losses and was unable to pay its debts. His company had no reasonable prospect of being able to repay the investments and interest payments under the bond scheme because of its dire financial position. 

    Directors have a responsibility to be honest and transparent with investors, especially when handling their money. This case sends a clear message that those who abuse their position and mislead investors will not be able to continue to act as company directors.

    Bentley Global (UK) Limited began receiving funds from investors in 2018 under a bond investment scheme. 

    The scheme offered annual interest payments between 12% to 20% and repayment of the investment funds at the end of three years. 

    Bentley Global (UK) Limited’s accounts for the periods ending 31 August 2018 and 31 August 2019 recorded no turnover for the company. 

    Trading losses of £4.137 million and £5.321 million were recorded for the same periods. 

    Despite this, Bentley Global (UK) Limited continued to acquire money from investors. 

    A total of £1.597 million was secured from investors across the world between 4 September 2019 and 16 June 2020. 

    Bentley has not disputed that there is no evidence of the company carrying out its stated trading activity of betting on football matches in that period. The company also had no known source of trading income during that time. 

    Bentley Global (UK) Limited owed £10.065 million to investors when it went into administration in May 2022. 

    The Official Receiver has since been appointed as liquidator and is overseeing the winding-up of the company and identification of any potential assets. 

    The Secretary of State for Business and Trade accepted a disqualification undertaking from Alan Bentley, and his ban started on Wednesday 4 June. 

    It prevents him from being involved in the promotion, formation or management of a company, without the permission of the court. 

    Further information 

    Updates to this page

    Published 10 June 2025

    MIL OSI United Kingdom

  • MIL-OSI Asia-Pac: Results of monthly survey on business situation of small and medium-sized enterprises for May 2025

    Source: Hong Kong Government special administrative region

    Results of monthly survey on business situation of small and medium-sized enterprises for May 2025 
         The current diffusion index (DI) on business receipts amongst SMEs increased from 41.2 in April 2025 in the contractionary zone to 42.1 in May 2025, whereas the one-month’s ahead (i.e. June 2025) outlook DI on business receipts was 45.4. Analysed by sector, the current DIs on business receipts, despite below the 50-mark, rose in May 2025 as compared with previous month for many surveyed sectors, particularly for the import and export trades (from 40.2 to 41.9) and wholesale trade (from 40.0 to 41.5).
      
         The current DI on new orders for the import and export trades increased from 42.0 in April 2025 to 44.0 in May 2025, whereas the outlook DI on new orders in one month’s time (i.e. June 2025) was 45.8.
     
    Commentary
     
         A Government spokesman said that business sentiment among SMEs and their outlook in one month’s time saw some improvement in May, as the global trade tensions eased somewhat. The overall employment situation also turned slightly better.
     
         Looking ahead, the uncertain external environment could continue to affect business sentiment. Nonetheless, the resilient local economy and sustained steady growth in the Mainland economy should provide a solid backstop. The Government will continue to monitor the situation closely.
     
    Further information
     
         The Monthly Survey on Business Situation of Small and Medium-sized Enterprises aims to provide a quick reference, with minimum time lag, for assessing the short-term business situation faced by SMEs. SMEs covered in this survey refer to establishments with fewer than 50 persons engaged. Respondents were asked to exclude seasonal fluctuations in reporting their views. Based on the views collected from the survey, a set of diffusion indices (including current and outlook diffusion indices) is compiled. A reading above 50 indicates that the business condition is generally favourable, whereas that below 50 indicates otherwise. As for statistics on the business prospects of prominent establishments in Hong Kong, users may refer to the publication entitled “Report on Quarterly Business Tendency Survey” released by the C&SD.
     
         The results of the survey should be interpreted with care. The survey solicits feedback from a panel sample of about 600 SMEs each month and the survey findings are thus subject to sample size constraint. Views collected from the survey refer only to those of respondents on their own establishments rather than those on the respective sectors they are engaged in. Besides, in this type of opinion survey on expected business situation, the views collected in the survey are affected by the events in the community occurring around the time of enumeration, and it is difficult to establish precisely the extent to which respondents’ perception of the business situation accords with the underlying trends. For this survey, main bulk of the data were collected around the last week of the reference month.
     
         More detailed statistics are given in the “Report on Monthly Survey on the Business Situation of Small and Medium-sized Enterprises”. Users can browse and download the publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1080015&scode=300 
         Users who have enquiries about the survey results may contact Industrial Production Statistics Section of the C&SD (Tel: 3903 7246; email:
    sme-survey@censtatd.gov.hkIssued at HKT 16:30

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Quarterly business receipts indices for service industries for first quarter of 2025

    Source: Hong Kong Government special administrative region

    Quarterly business receipts indices for service industries for first quarter of 2025 
         Comparing the first quarter of 2025 with the first quarter of 2024, double-digit increases were recorded in business receipts indices of the financing (except banking) (+32.5%), insurance (+23.1%), import/export trade (+19.4%) and banking (+19.0%) industries. On the other hand, decreases were recorded in business receipts indices of the real estate (-6.7%) and retail (-6.5%) industries during the same period.
     
         Analysed by service domain, business receipts index of the computer and information technology services domain increased by 60.2% year-on-year during the same period, while that of the tourism, convention and exhibition services domain also increased by 1.1% year-on-year.
     
         On a seasonally adjusted quarter-to-quarter comparison, business receipts in value terms of many major service industries recorded increases of varying magnitudes in the first quarter of 2025 when compared with the fourth quarter of 2024. In particular, double-digit increases were recorded in business receipts indices of the insurance (+32.5%), import/export trade (+20.3%) and banking (+19.9%) industries. On the other hand, business receipts index of the real estate industry decreased by 5.7% during the same period.
     
         Analysed by service domain, comparing the first quarter of 2025 with the fourth quarter of 2024 on a seasonally adjusted basis, business receipts index of the computer and information technology services domain increased by 50.3%, while that of the tourism, convention and exhibition services domain also increased by 0.7%.
     
    Commentary
     
         A Government spokesman said that business receipts of many service industries recorded increases in the first quarter of 2025 over a year earlier. More notable increases in business receipts were seen for the financing (except banking), insurance, import/export trade and banking industries.

         Looking ahead, business of the service industries should be supported by economic growth. Continued growth of the Mainland economy and the Hong Kong Government’s various measures to boost economic momentum should be conducive to the businesses of the services industries, though some industries may be affected by the continued headwinds stemming from the uncertainties in the external environment and the changing consumption patterns of residents and visitors in the local market.
     
    Further information
     
         Table 1 presents the business receipts indices and their corresponding year-on-year rates of change in respect of selected service industries and service domains for the recent five quarters, while Table 2 shows the corresponding quarter-to-quarter rates of change in the business receipts indices for the recent five quarters based on the seasonally adjusted series.
     
         The revised figures of business receipts indices for the first quarter of 2025 will be released at the website of the C&SD (www.censtatd.gov.hk/en/web_table.html?id=660-69001 
         Data for compiling the business receipts indices are mainly based on the Quarterly Survey of Service Industries conducted by the C&SD, supplemented by relevant data provided by the Hong Kong Monetary Authority and the Hong Kong Tourism Board.
     
         A service domain differs from a service industry in that it comprises those economic activities which straddle different industries but are somehow related to a common theme. It may include all activities carried out by all establishments in a service industry that is closely related to the domain. For a service industry that is less closely related, however, only a portion of the establishments in the industry or even only part of the economic activities of the establishments is related to the domain. Taking the tourism, convention and exhibition services domain as an example, it includes all services of convention and exhibition organisers, short-term accommodation services and services of travel agents, and some of the services (only those involving visitors as customers) of restaurants, retailers and transport operators.
     
         The classification of service industries follows the Hong Kong Standard Industrial Classification Version 2.0, which is used in various economic surveys for classifying economic units into relevant industry classes.
     
         More detailed statistics are given in the report “Quarterly Business Receipts Indices for Service Industries, First Quarter 2025”. Users can browse and download this publication at the website of the C&SD (
    www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1080006&scode=520 
         For enquiries about the business receipts indices, please contact the Business Services Statistics Section of the C&SD (Tel: 3903 7274 or e-mail:
    business-receipts@censtatd.gov.hkIssued at HKT 16:30

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Russia: Professor Mohammed Ali Beravi became an Honorary Doctor of SPbPU

    Translation. Region: Russian Federal

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    On June 9, a solemn ceremony of presenting the mantle and diploma of Honorary Doctor of SPbPU to Professor Mohammed Ali Beravi took place at Peter the Great St. Petersburg Polytechnic University.

    In accordance with the official regulations, the title of “Honorary Doctor of Peter the Great St. Petersburg Polytechnic University” is awarded to outstanding figures in science and technology, education and culture, as well as leading specialists from Russia and foreign countries for significant contribution to the development of advanced areas of knowledge and science, whose activities contribute to strategic development, expansion of areas of cooperation and increasing the authority of the university at the international level. The decision to award the title of Honorary Doctor of SPbPU to Mohammed Ali Beravi was unanimously adopted by the members of the SPbPU Academic Council on September 27, 2024. The University’s Scientific Secretary Dmitry Karpov introduced the new Honorary Doctor.

    Mohamed Ali Berawi is a Professor of Engineering, M.Eng., Ph.D., and Professor in the Department of Civil and Environmental Engineering, Faculty of Engineering, and Executive Director of the Center for Sustainable Infrastructure Development, University of Indonesia. He is the Chairman of the Indonesian Faculty Association and the Advisory Board of the Forum of Professional Organizations in Science and Technology, Director of the Center for Sustainable Infrastructure Development, Executive Director of the ASEAN University Network for Sustainable Cities and Urbanization, and the Leader of the Smart Cities Working Group of the Association of Pacific Rim Universities Sustainable Cities and Landscapes. Mohamed Ali Berawi was ranked in the top 2% of scientists in the world by Elsevier and Stanford University from 2021 to 2024.

    Professor Berawi has served as a leading advisor to the Ministry of Transport of the Republic of Indonesia, Chairman of the Standing Committee on Strategic Infrastructure Policy of the Indonesian Chamber of Commerce, and Member Secretary of the Presidential Advisory Council of the Republic of Indonesia. Since 2022, he has served as the Deputy for Green and Digital Transformation at Nusantara Metropolitan Office in Indonesia.

    Students in the uniform of the Polytechnic University of the early 20th century brought in the doctoral mantle, the Polyhymnia choir performed the Gaudeamus anthem. Rector of SPbPU, academician of the Russian Academy of Sciences Andrey Rudskoy presented a book about honorary doctors of the Polytechnic University, which has a page dedicated to Mohammed Ali Beravi.

    Awarding the title of Honorary Doctor of SPbPU to Professor Beravi is a recognition of his outstanding achievements in science and practical activities aimed at sustainable development and the implementation of advanced technologies. His work is ideally in line with the spirit and strategic goals of our university. His many years of work at the Polytechnic contributed to the development of the master’s programs “Bioeconomics” and “Energy Economics”, where he shared his competencies in the field of sustainable development of territories using the city of Nusantara as an example. In particular, Professor Beravi taught courses and supervised, together with Polytechnic teachers, students’ research work in English. Together with Professor Beravi and his Indonesian colleagues, the Polytechnic hopes to implement a joint project on modeling the development of smart cities, – Andrey Rudskoy emphasized.

    It is a great honour for me to receive the title of Honorary Doctor of the Polytechnic University. This recognition reflects our shared commitment to the development of knowledge, innovation and international cooperation. I hope that this achievement will inspire our joint initiatives in the field of science and technology development. I believe that science and technology should serve higher purposes, offering real solutions that improve the quality of life, support sustainability and ensure a better future for the next generations, – thanked Professor Mohamed Ali Berawi.

    The ceremony was also attended by the Honorary Consul of the Republic of Indonesia in St. Petersburg, President of the Association of Industrial Enterprises of St. Petersburg Valery Radchenko, a graduate of the Polytechnic University. He congratulated Professor Mohammed Ali Berawi on receiving the honorary title. In addition, the Ambassador of the Republic of Indonesia to the Russian Federation and the Republic of Belarus Jose Tavares sent his congratulations in the form of a video message.

    After the ceremony, Mohammed Ali Berawi met with Indonesian students who performed the national dance Ratoh Jaroe.

    We are immensely proud that Professor Mohammed Ali Berawi is part of the Polytechnic family. It is a great honor for us that a world-class scientist, whose projects change the future of cities, has been making a significant contribution to the development of our university for many years. It is especially inspiring that he is our fellow countryman, glorifying Indonesia and Polytech on the global stage. We say with all our hearts: Welcome home, Professor, Selamat datang di Polytech! — shared the chairman of the Indonesian community at SPbPU, a postgraduate student of IMMiT Tegu Imanullah.

    Professor Mohammed Ali Beravi gave a lecture to students and staff of the university at the Technopolis Polytech research complex. Before that, Vice-Rector for Youth Policy and Communication Technologies Maxim Pasholikov awarded Professor Beravi with gratitude and a commemorative medal of SPbPU for assisting in the development of the University Endowment Fund.

    The lecture was dedicated to the creation of a smart sustainable city Nusantara — the new capital of Indonesia, where environmental responsibility and digital innovations are combined. The concept is based on the triad of Nature 5.0, Industry 4.0 and Society 5.0, which ensures the restoration of nature through technological progress, innovations for sustainable development and a human-oriented society. Nusantara is designed as the world’s first carbon-neutral city by 2045. To achieve this, 65% of its territory will be occupied by restored tropical forests — natural absorbers of CO₂. Among the innovations are autonomous transport and “smart buildings”. Professor Berawi presented the national project being implemented, which will become a global example of the balance between technology, ecology and the quality of life of people.

    During the visit, Mohammed Ali Beravi was given a tour of the Main Academic Building. He visited the SPbPU History Museum, the White Hall, the Reading Room, and looked at the gallery of outstanding polytechnic scientists. Professor Beravi was also told about the Polytechnic Supercomputer Center and the MetaCampus Polytech project of the Civil Engineering Institute.

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

    MIL OSI Russia News

  • MIL-OSI: Bitget Scans Ahead at Solana Summit 2025 with QR-based Payment Rollout

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, June 10, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, the leading non-custodial Web3 wallet, concluded an impactful showing at the Solana APAC Summit 2025, held in Da Nang, Vietnam from June 5 to 7. As a major sponsor of the summit, Bitget Wallet used the three-day event to debut its newest payment features, connect with builders from across the Solana ecosystem, and demonstrate how onchain tools can power real-world use cases across Asia and beyond.

    On the opening day, Bitget Wallet formally announced the integration of QR-based payment integrations, which includes Solana Pay and national QR payment systems, for seamless, multi-currency payments. This integration lives up to Bitget Wallet’s new identity of ‘Crypto for Everyone’, bridging the gap between blockchain and everyday commerce. Bitget Wallet also hosted a developer workshop showcasing the ease of integrating Solana dApps into the wallet’s infrastructure, including support for seamless swaps, staking, and native Solana trading via Jupiter DEX.

    Day 2 of the Summit saw Bitget Wallet’s Business Development Manager, Xavier Ow Yeong, take the stage to discuss how onchain finance is changing the way users spend, save, and access capital. That evening, Bitget Wallet co-hosted a meetup with Saros, previewing its upcoming VietQR payment feature in a live test environment. Over 150 community members attended the event, explored new Bitget Wallet integrations firsthand, and received exclusive merchandise alongside a live airdrop reward for early testers.

    The Solana APAC Summit marks a significant milestone in Bitget Wallet’s roadmap to turn crypto wallets from storage tools into everyday super apps. As part of a broader mission to scale real-world adoption, the event demonstrates how embedded payment infrastructure, cross-chain liquidity, and user-first design can unlock new crypto behaviors, whether in emerging markets or global hubs of Web3 development.

    Bitget Wallet’s participation in the Solana Summit is part of its ongoing initiative to expand crypto access across Asia, aligning ecosystem partners, developers, and communities around the next wave of practical, onchain tools.

    About Bitget Wallet
    Bitget Wallet is a non-custodial crypto wallet designed to make crypto simple and secure for everyone. With over 80 million users, it brings together a full suite of crypto services, including swaps, market insights, staking, rewards, DApp exploration, and payment solutions. Supporting 130+ blockchains and millions of tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges. Backed by a $300+ million user protection fund, it ensures the highest level of security for users’ assets. Its vision is Crypto for Everyone — to make crypto simpler, safer, and part of everyday life for a billion people.
    For more information, visit: X | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord | Facebook
    For media inquiries, contact media.web3@bitget.com

    Photos accompanying this announcement are available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/91b54b94-4741-40ed-b89f-148168f60fdd
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    https://www.globenewswire.com/NewsRoom/AttachmentNg/205bbae6-30c4-4605-9d97-de11d0109ccf
    https://www.globenewswire.com/NewsRoom/AttachmentNg/2be5f55d-8911-4f2f-a0be-e09dec432a1b
    https://www.globenewswire.com/NewsRoom/AttachmentNg/7ff8c528-21a6-49ed-b61a-eef93d06febc

    The MIL Network

  • MIL-OSI Australia: VCAT cancels licence of Hallam estate agent

    Source: Australian Capital Territory Policing

    A real estate agent with a history of mishandling clients’ money has lost his licence to practise for 12 months.

    Thomas Henry Albert Aloysius, 52, of Hallam, was a director of former estate agent, Hills and Fort Real Estate Pty Ltd, when he failed to meet key legal requirements under the Estate Agents Act.

    Aloysius breached 2 licence conditions:

    • He failed to notify the Business Licensing Authority within 24 hours of having criminal charges brought against him, instead waiting more than eight months.
    • He remained a signatory to the company’s trust account while being prohibited.

    Aloysius also allowed Hills and Fort Real Estate to trade unlicensed for more than eight months and to keep trust money for sales transactions in a trust account that was not in the company’s name.

    Hills and Fort Real Estate previously traded under the business names Freedom Realtors, Smart Negotiators and freedomproperty.com.au – Smart Negotiators.

    The VCAT action against Aloysius followed his previous failure to correctly handle client funds, while working for another agency. As an agent’s representative, he accepted a $20,000 deposit from a purchaser into his personal account, rather than the agency trust account. He was convicted and fined in 2021.

    Consumer Affairs Victoria continues to target the way estate agents manage trust account money. It is currently prosecuting estate agent Daniela Vella and Mark Alexander Reuben for allegedly mismanaging more than $230,000 and $400,000 of clients’ trust money, respectively. Both held senior roles in the agencies they were working for at the time of their alleged offences.

    If you are considering selling your property, check an agent’s licence status on the estate agent public register before you engage them.

    Read more about the professional conduct obligations of estate agents.

    MIL OSI News