Category: Commerce

  • MIL-OSI United Kingdom: World Breastfeeding Week: Breastfeeding Welcome Here scheme signs up 70th Derby venue

    Source: City of Derby

    Seventy city public places have now signed up to a scheme to support breastfeeding families in Derby. The Breastfeeding Welcome Here initiative was launched last year, to make mums feel more confident to breastfeed in public.

    Shops, cafés and other public premises in the city are encouraged to sign up to the free scheme to show they are accredited as ‘breastfeeding friendly’.

    As World Breastfeeding Week 2025 begins on 1 August, The University Hospitals of Derby and Burton (UHDB) has become the latest organisation to sign up to the Breastfeeding Welcome Here scheme.

    Other public places in the city that have recently signed up to the scheme include The University of Derby, Derby Market Hall, My Messy Play, Tubby Bears Play Zone and Bezerk Active Play. 

    The Breastfeeding Welcome Here scheme aims to positively change perceptions around breastfeeding in public and promote an environment where mums feel confident to breastfeed for as long as they choose.

    By signing up, businesses and organisations pledge to actively welcome families who are breastfeeding and support them to feel confident and comfortable feeding their baby on the premises. In turn, this will give the venue a boost, as families are more likely to return to places where they feel comfortable.

    If a venue is displaying a Breastfeeding Welcome Here Award, families can be confident that:

    • They are welcome to breastfeed their baby there
    • They will never be asked to move or leave because they are breastfeeding
    • The venue will do their best to offer a private area to feed in, if preferred, if space allows
    • Staff are trained to know that the venue supports breastfeeding and encourages breastfeeding on the premises.

    Councillor Alison Martin, Derby City Council Cabinet Member for Health and Adult Care, said:

    It’s fantastic to see 70 public places across Derby now proudly displaying the ‘Breastfeeding Welcome Here’ award, with University Hospitals of Derby and Burton being the latest to join.

    This scheme is all about creating a supportive and welcoming environment for breastfeeding women, ensuring mums feel confident and comfortable feeding their babies, wherever they are in our city.

    Garry Marsh, UHDB Executive Chief Nurse, said: 

    Across our hospitals, we strive to provide supportive and inclusive environments for all patients, visitors and colleagues – and we are pleased that receiving this Breastfeeding Welcome Here accreditation can help ensure parents feel comfortable and supported when feeding their babies here.

    Funded as part of the Government’s Start for Life programme, the scheme is a partnership between Derby City Council, Community Action Derby and Derbyshire Healthcare NHS Foundation Trust. Businesses that successfully apply will receive a ‘Breastfeeding Welcome Here’ certificate and window sticker, so parents know they officially support and encourage breastfeeding.

    You can watch a video all about the Breastfeeding Welcome Here scheme on Derby City Council’s YouTube channel.

    Families can get support with breastfeeding through Derbyshire Healthcare NHS Trusts Infant Feeding team and at Derby’s Family Hubs and Children’s Centres. The Infant Feeding Team hold friendly face-to-face breastfeeding clubs where you can meet other mums and get professional advice. Find more information and details of your nearest group on the Family Hub website.

    Watch our series of short films featuring Derby families talking about their experiences of breastfeeding and the support available to them from local Family Hubs and Derbyshire health services. The films were co-produced with families and Lo and Behold Films to promote and raise awareness of the Start for Life Campaign.

    You can watch the films on the Derby City Council website, where you can also find further information about breastfeeding support and details about how to sign up to the Breastfeeding Welcome scheme.

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Appointment of Churches Conservation Trust members: 1 August 2025

    Source: United Kingdom – Government Statements

    Press release

    Appointment of Churches Conservation Trust members: 1 August 2025

    The King has approved the nomination of Trustees of the Board of the Churches Conservation Trust.

    The King has approved the nomination of Bishop Andrew Rumsey, Dr Ingrid Samuel OBE, Lord (Stephen) Parkinson of Whitley Bay, Michael Bithell JP, Vivienne King and Reverend Canon Timothy Goode.

    Andrew Rumsey read history at the University of Reading before training for ordination at Ridley Hall, Cambridge and doctoral studies at King’s College, London. Ordained in 1997, he has held a variety of parish posts in London and Southwark and was appointed Suffragan Bishop of Ramsbury in 2018. Andrew is the joint National Church of England Lead for Church and Cathedral Buildings, and is a writer, musician and champion for Anglican heritage.

    Dr Ingrid Helene Samuel OBE was educated at McGill University, Canada, obtaining BA in History, she then gained a M Litt and PhD in Modern History at Jesus College, Cambridge. In 2004 Ingrid was Head of Culture for the London Olympic Bid and between 2005 – 2011 has held several roles in the Department for Culture, Media and Sport including Head of Properties and Ceremonial Branch, Head of Heritage, and Head of Heritage and Architecture. Additionally, in 2011 she took up the role of Placemaking and Heritage Director with the National Trust.

    Lord Parkinson of Whitley Bay was educated at Emmanuel College, Cambridge, obtaining an MA in History. From 2021-2024 Stephen was Parliamentary Under-Secretary of State, Department for Culture, Media & Sport, and previously was Political Secretary to the Prime Minister and Special Adviser to the Home Secretary.

    Michael Bithell JP was educated at Magdalen College, Oxford, completing a MA in Engineering Science and post-graduate studies in Manufacture and Management at Cambridge University. Now retired, Michael was Group Finance Director of United Westminster and Grey Coat Foundation from 2015 to 2022. Previously, he worked for Deloitte LLP for 23 years, as Director, National Quality & Risk; and Director, Corporate Finance Government & Infrastructure. He has a number of voluntary and non-executive positions, including as a member of London Diocesan Synod, Finance Committee and Non-Property Investment Committee, as a Magistrate and an Honorary Steward of Westminster Abbey.

    Vivienne King was educated at Keele University obtaining a BSoc Sci in Law and Politics in 1983, subsequently completing a Legal Practice Course at the College of Law in 1985. In 2010 and 2012 she completed a Corporate Finance Programme with Cranfield University and in 2021 undertook Business Sustainability Management with the University of Cambridge Institute for Sustainability Leadership. After seven years as Real Estate Associate with Herbert Smith Freehills, Vivienne joined The Crown Estate in 1994 as a Senior Solicitor and was subsequently Director of Business Operations & General Counsel. She was CEO of the Soho Housing Association from 2016 to 2020, CEO of Revo and then Head of Real Estate Social Impact at The Good Economy. In March 2024 Vivienne founded Impactful Places, an independent sustainability consultancy.

    Timothy Goode has been the Canon for Congregational Discipleship and Nurture at York Minster since September 2023. Previously he was Rector of St Margaret’s Lee in South East London, and a member of General Synod and Archbishops’ Council. Tim is a member of the National Disability Task Group, which advises the Archbishops of Canterbury and York on disability issues and he led the first debate on disability at the General Synod in July 2022. Tim was a secondary school teacher at the Roehampton Institute and Director of Music of Homefield School from 1995-2007. He trained for ministry at Ripon College Cuddesdon and served his title at Croydon Minster, in the Diocese of Southwark and was ordained priest in 2010. From September 2012 to May 2018, he was Team Vicar of St Luke’s Whyteleafe and St Peter and St Paul, Chaldon, part of the Caterham Team ministry. From 2013 to 2021 he was additionally the Southwark Diocesan Disability Advisor. Tim was made an Honorary Canon of Southwark Cathedral in September 2020 and has been a trustee of the Churches Conservation Trust since November 2020. He has now been re-appointed in the role for a second term until October 2028.

    Updates to this page

    Published 1 August 2025

    MIL OSI United Kingdom

  • MIL-OSI USA: Flood Survivors in Four More Counties May Apply for Federal Assistance

    Source: US Federal Emergency Management Agency

    Headline: Flood Survivors in Four More Counties May Apply for Federal Assistance

    Flood Survivors in Four More Counties May Apply for Federal Assistance

    AUSTIN, Texas – Homeowners and renters in Guadalupe, Kimble, McCulloch and Menard counties are now eligible to apply for federal disaster assistance if you were affected by the Central Texas flooding in July

    FEMA, the State of Texas and the U

    S

    Small Business Administration may be able to help with serious disaster-related needs, temporary lodging, basic home repair costs, personal property loss and disaster loans

    Previously, Burnet, Kerr, San Saba, Tom Green, Travis and Williamson counties were designated for FEMA assistance, meaning survivors with losses in those counties could apply even if they do not live in the county or in Texas

    A total of 10 counties are now designated for federal assistance under the major presidential disaster declaration for the July 2-18 severe storms and flooding in Central Texas

    Survivors with homeowners’, renters’ and flood insurance are encouraged to file a claim with their insurance carrier as soon as possible

    By law, FEMA cannot provide funding for losses covered by your insurance

    If your policy does not cover all disaster expenses, you may be eligible for federal assistance

    FEMA works closely with the Small Business Administration, which provides low-interest disaster loans for homeowners, renters, nonprofit organizations and businesses of all sizes

    You have until Thursday, Sept

    4, to apply for FEMA disaster assistance, which is not the same as reporting your damage to the state

    Reporting disaster damage to the Texas Division of Emergency Management at damage

    tdem

    texas

    gov helps officials connect you with resources and services

    The fastest way to apply to FEMA is online at DisasterAssistance

    gov

    You may also use the FEMA mobile app or call the FEMA Helpline at 800-621-3362

    Lines are open from 6 a

    m

    to 10 p

    m

    CT daily

    If you use a relay service, captioned telephone or other service, you can give FEMA your number for that service

    Helpline specialists speak many languages

    Press 2 for Spanish

    To apply online or to download an SBA application, go to SBA

    gov/disaster

    You may also call SBA’s Customer Service Center at 800-659-2955 or email DisasterCustomerService@sba

    gov

     The deadline to apply for an SBA physical disaster loan is also Thursday, Sept

    4

    The last day to apply for an SBA economic injury loan is April 6, 2026

    You may also visit any Disaster Recovery Center to receive in-person assistance

    To find one close to you, use your ZIP code to search FEMA

    gov/DRC

    To view an accessible video, visit What You Need to Know Before Applying for FEMA Assistance

    For the latest information about the Texas recovery, visit fema

    gov/disaster/4879

    Follow FEMA Region 6 on social media at x

    com/FEMARegion6 and at facebook

    com/FEMARegion6
    toan

    nguyen
    Thu, 07/31/2025 – 15:35

    MIL OSI USA News

  • MIL-OSI: Brookfield Business Partners Reports Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    BROOKFIELD, NEWS, Aug. 01, 2025 (GLOBE NEWSWIRE) — Brookfield Business Partners (NYSE: BBU, BBUC; TSX: BBU.UN, BBUC) announced today financial results for the quarter ended June 30, 2025.

    “We had an active quarter, reaching an agreement on the sale of a partial interest in three businesses, investing $300 million to acquire two market-leading businesses, and repurchasing an additional 2.2 million of common equity at highly accretive levels,” said Anuj Ranjan, CEO of Brookfield Business Partners. “The strength of our financial results in an uneven macroeconomic environment underscores the resilience of our operations, while progress on our value creation plans and capital recycling initiatives enable us to continue compounding growth for investors.”

      Three Months Ended
    June 30,
      Six Months Ended
    June 30,
    US$ millions (except per unit amounts), unaudited   2025   2024       2025   2024
    Net income (loss) attributable to Unitholders1 $ 26 $ (20 )   $ 106 $ 28
    Net income (loss) per limited partnership unit2 $ 0.12 $ (0.10 )   $ 0.49 $ 0.13
               
    Adjusted EBITDA3 $ 591 $ 524     $ 1,182 $ 1,068

    Net income attributable to Unitholders for the three months ended June 30, 2025 was $26 million ($0.12 per limited partnership unit), compared to net loss of $20 million (loss of $0.10 per limited partnership unit) in the prior period.

    Adjusted EBITDA for the three months ended June 30, 2025 was $591 million, compared to $524 million in the prior period reflecting increased performance on a same store basis and contribution from recently completed acquisitions. Prior period results included $71 million of contribution from disposed operations including our offshore oil services’ shuttle tanker operation which was sold in January 2025.

    Operational Update

    The following table presents Adjusted EBITDA by segment:

      Three Months Ended
    June 30,
      Six Months Ended
    June 30,
    US$ millions, unaudited   2025     2024       2025     2024  
    Industrials $ 307   $ 213     $ 611   $ 441  
    Business Services   205     182       418     387  
    Infrastructure Services   109     157       213     300  
    Corporate and Other   (30 )   (28 )     (60 )   (60 )
    Adjusted EBITDA $ 591   $ 524     $ 1,182   $ 1,068  

    Our Industrials segment generated Adjusted EBITDA of $307 million for the three months ended June 30, 2025, compared to $213 million during the same period in 2024, benefiting from strong operating performance at our advanced energy storage operation. Current period results included $71 million of tax recoveries as well as contribution from recent acquisitions including our electric heat tracing systems manufacturer which was acquired in January 2025. Prior period results included contribution from our Canadian aggregates production operation which was sold in June 2024.

    Our Business Services segment generated Adjusted EBITDA of $205 million for the three months ended June 30, 2025, compared to $182 million during the same period in 2024 which reflected the impact of reduced contribution from our dealer software and technology services operation in the prior period. Prior period results included contribution from our road fuels operation which was sold in July 2024.

    Our Infrastructure Services segment generated Adjusted EBITDA of $109 million for the three months ended June 30, 2025, compared to $157 million during the same period in 2024 primarily reflecting the sale of our offshore oil services’ shuttle tanker operation in January 2025.

    The following table presents Adjusted EFO4 by segment:

      Three Months Ended
    June 30,
      Six Months Ended
    June 30,
    US$ millions, unaudited   2025     2024       2025     2024  
    Adjusted EFO          
    Industrials $ 154   $ 206     $ 284   $ 386  
    Business Services   105     86       222     254  
    Infrastructure Services   38     76       204     148  
    Corporate and Other   (63 )   (79 )     (131 )   (168 )

    Adjusted EFO included the benefit of lower interest expense due to a reduction in corporate borrowings compared to the prior period. Industrials Adjusted EFO reflected the impact of higher interest expense related to the funding of a distribution received from our advanced energy storage operation during the current year. Adjusted EFO in the prior period included $103 million of net gains related to the disposition of our Canadian aggregates production operation and the sale of public securities.

    Strategic Initiatives

    • Capital Recycling
      In July, we completed the previously announced sale of a partial interest in three businesses to a new evergreen private equity fund managed by Brookfield Asset Management. In exchange, BBU will receive units of the new evergreen fund with an initial redemption value of approximately $690 million, representing an aggregate 8.6% discount to net asset value (NAV) of the interests sold. In the 18-month period following the initial close of the new evergreen fund, the units are expected to be redeemed for cash.
    • Canadian Mortgage Lender
      In July, we entered into a partnership to privatize First National Financial Corporation, a leading publicly-listed Canadian residential and multi-family mortgage lender, for $2.7 billion. The transaction is expected to be funded with approximately $1.3 billion of equity, of which BBU’s share is expected to be approximately $145 million for an 11% interest in the business. The transaction is expected to close later this year, subject to obtaining the required shareholder, court and regulatory approvals and the satisfaction of other customary closing conditions.
    • Specialty Consumables and Equipment Manufacturer
      In May, we completed the previously announced acquisition of Antylia Scientific, a leading manufacturer and distributor of critical consumables and testing equipment serving life sciences and environmental labs for approximately $1.3 billion. BBU invested $168 million for a 26% interest.
    • Unit Repurchase Program
      During the quarter, we invested $56 million to repurchase 2.2 million units and shares of Brookfield Business Partners at an average price of approximately $25 per unit and share. Since the start of the year, our buyback program has returned $157 million to owners through the repurchase of 6.5 million units and shares under our normal course issuer bid (NCIB), which we plan to renew once it expires later this month.

    Liquidity

    We ended the quarter with approximately $2.3 billion of liquidity at the corporate level, including $2.2 billion of availability on our credit facilities. Pro forma for announced and recently closed transactions, corporate liquidity is approximately $2.9 billion.

    Distribution

    The Board of Directors has declared a quarterly distribution in the amount of $0.0625 per unit, payable on September 29, 2025 to unitholders of record as at the close of business on August 29, 2025.

    Additional Information

    The Board has reviewed and approved this news release, including the summarized unaudited interim condensed consolidated financial statements contained herein.

    Brookfield Business Partners’ Letter to Unitholders and the Supplemental Information are available on our website https://bbu.brookfield.com under Reports & Filings.

    Notes:
    1 Attributable to limited partnership unitholders, general partnership unitholders, redemption-exchange unitholders, special limited partnership unitholders and BBUC exchangeable shareholders.
    2 Net income (loss) per limited partnership unit calculated as net income (loss) attributable to limited partners divided by the average number of limited partnership units outstanding for the three and six months ended June 30, 2025 which were 88.9 million and 84.5 million, respectively (June 30, 2024: 74.3 million and 74.3 million, respectively).
    3 Adjusted EBITDA is a non-IFRS measure of operating performance presented as net income and equity accounted income at the partnership’s economic ownership interest in consolidated subsidiaries and equity accounted investments, respectively, excluding the impact of interest income (expense), net, income taxes, depreciation and amortization expense, gains (losses) on dispositions, net, transaction costs, restructuring charges, revaluation gains or losses, impairment expenses or reversals, other income or expenses, and preferred equity distributions. The partnership’s economic ownership interest in consolidated subsidiaries and equity accounted investments excludes amounts attributable to non-controlling interests consistent with how the partnership determines net income attributable to non-controlling interests in its unaudited interim condensed consolidated statements of operating results. The partnership believes that Adjusted EBITDA provides a comprehensive understanding of the ability of its businesses to generate recurring earnings which allows users to better understand and evaluate the underlying financial performance of the partnership’s operations and excludes items that the partnership believes do not directly relate to revenue earning activities and are not normal, recurring items necessary for business operations. Please refer to the reconciliation of net income (loss) to Adjusted EBITDA included in this news release.
    4 Adjusted EFO is the partnership’s segment measure of profit or loss and is presented as net income and equity accounted income at the partnership’s economic ownership interest in consolidated subsidiaries and equity accounted investments, respectively, excluding the impact of depreciation and amortization expense, deferred income taxes, transaction costs, restructuring charges, unrealized revaluation gains or losses, impairment expenses or reversals and other income or expense items that are not directly related to revenue generating activities. The partnership’s economic ownership interest in consolidated subsidiaries excludes amounts attributable to non-controlling interests consistent with how the partnership determines net income attributable to non-controlling interests in its unaudited interim condensed consolidated statements of operating results. In order to provide additional insight regarding the partnership’s operating performance over the lifecycle of an investment, Adjusted EFO includes the impact of preferred equity distributions and realized disposition gains or losses recorded in net income, other comprehensive income, or directly in equity, such as ownership changes. Adjusted EFO does not include legal and other provisions that may occur from time to time in the partnership’s operations and that are one-time or non-recurring and not directly tied to the partnership’s operations, such as those for litigation or contingencies. Adjusted EFO includes expected credit losses and bad debt allowances recorded in the normal course of the partnership’s operations. Adjusted EFO allows the partnership to evaluate its segments on the basis of return on invested capital generated by its operations and allows the partnership to evaluate the performance of its segments on a levered basis.

    Brookfield Business Partners is a global business services and industrials company focused on owning and operating high-quality businesses that provide essential products and services and benefit from a strong competitive position. Investors have flexibility to invest in our company either through Brookfield Business Partners L.P. (NYSE: BBU; TSX: BBU.UN), a limited partnership or Brookfield Business Corporation (NYSE, TSX: BBUC), a corporation. For more information, please visit https://bbu.brookfield.com.

    Brookfield Business Partners is the flagship listed vehicle of Brookfield Asset Management’s Private Equity Group. Brookfield Asset Management is a leading global alternative asset manager with over $1 trillion of assets under management.

    Please note that Brookfield Business Partners’ previous audited annual and unaudited quarterly reports have been filed on SEDAR+ and EDGAR, and are available at https://bbu.brookfield.com under Reports & Filings. Hard copies of the annual and quarterly reports can be obtained free of charge upon request.

    For more information, please contact:

    Conference Call and Quarterly Earnings Webcast Details

    Investors, analysts and other interested parties can access Brookfield Business Partners’ second quarter 2025 results as well as the Letter to Unitholders and Supplemental Information on our website https://bbu.brookfield.com under Reports & Filings.

    The results call can be accessed via webcast on August 1, 2025 at 10:00 a.m. Eastern Time at BBU2025Q2Webcast or participants can preregister at BBU2025Q2ConferenceCall. Upon registering, participants will be emailed a dial-in number and unique PIN. A replay of the webcast will be available at https://bbu.brookfield.com.

    Brookfield Business Partners L.P.
    Consolidated Statements of Financial Position
     
      As at
    US$ millions, unaudited June 30, 2025   December 31, 2024
               
    Assets          
    Cash and cash equivalents   $ 3,329     $ 3,239
    Financial assets     11,658       12,371
    Accounts and other receivable, net     7,148       6,279
    Inventory and other assets     5,808       5,728
    Property, plant and equipment     10,591       13,232
    Deferred income tax assets     1,959       1,744
    Intangible assets     19,158       18,317
    Equity accounted investments     2,397       2,325
    Goodwill     13,287       12,239
    Total Assets   $ 75,335     $ 75,474
               
    Liabilities and Equity          
    Liabilities          
    Corporate borrowings   $ 1,116     $ 2,142
    Accounts payable and other     13,766       16,691
    Non-recourse borrowings in subsidiaries of the partnership     42,493       36,720
    Deferred income tax liabilities     2,639       2,613
               
    Equity          
    Limited partners $ 2,291     $ 1,752  
    Non-controlling interests attributable to:          
    Redemption-exchange units   1,330       1,644  
    Special limited partner          
    BBUC exchangeable shares   1,805       1,721  
    Preferred securities   740       740  
    Interest of others in operating subsidiaries   9,155       11,451  
          15,321       17,308
    Total Liabilities and Equity   $ 75,335     $ 75,474
    Brookfield Business Partners L.P.
    Consolidated Statements of Operating Results
     
    US$ millions, unaudited Three Months Ended
    June 30,
      Six Months Ended
    June 30,
      2025     2024       2025     2024  
               
    Revenues $ 6,695   $ 11,946     $ 13,444   $ 23,961  
    Direct operating costs   (5,465 )   (10,928 )     (10,867 )   (21,806 )
    General and administrative expenses   (271 )   (307 )     (582 )   (624 )
    Interest income (expense), net   (801 )   (778 )     (1,571 )   (1,574 )
    Equity accounted income (loss)   23     31       15     54  
    Impairment reversal (expense), net   (14 )         (14 )   10  
    Gain (loss) on dispositions, net   6     84       220     99  
    Other income (expense), net   (103 )   (100 )     (186 )   16  
    Income (loss) before income tax   70     (52 )     459     136  
    Income tax (expense) recovery          
    Current   (119 )   (122 )     (316 )   (212 )
    Deferred   184     239       248     344  
    Net income (loss) $ 135   $ 65     $ 391   $ 268  
    Attributable to:          
    Limited partners $ 11   $ (7 )   $ 41   $ 10  
    Non-controlling interests attributable to:          
    Redemption-exchange units   6     (6 )     29     9  
    Special limited partner                  
    BBUC exchangeable shares   9     (7 )     36     9  
    Preferred securities   13     13       26     26  
    Interest of others in operating subsidiaries   96     72       259     214  
    Brookfield Business Partners L.P.
    Reconciliation of Non-IFRS Measure
     
    US$ millions, unaudited   Three Months Ended June 30, 2025
      Business
    Services
      Infrastructure
    Services
      Industrials   Corporate
    and Other
      Total
                         
    Net income (loss)   $ 253     $ (173 )   $ 95     $ (40 )   $ 135  
                         
    Add or subtract the following:                    
    Depreciation and amortization expense     208       175       384             767  
    Impairment reversal (expense), net                 14             14  
    Gain (loss) on dispositions, net     (6 )                       (6 )
    Other income (expense), net1     (200 )     76       229       (2 )     103  
    Income tax (expense) recovery     9       10       (76 )     (8 )     (65 )
    Equity accounted income (loss)     (5 )     (4 )     (14 )           (23 )
    Interest income (expense), net     238       142       401       20       801  
    Equity accounted Adjusted EBITDA2     28       40       20             88  
    Amounts attributable to non-controlling interests3     (320 )     (157 )     (746 )           (1,223 )
    Adjusted EBITDA   $ 205     $ 109     $ 307     $ (30 )   $ 591  

    Notes:
    1 Other income (expense), net corresponds to amounts that are not directly related to revenue earning activities and are not normal, recurring income or expenses necessary for business operations. The components of other income (expense), net include $236 million of net gain recognized upon the deconsolidation of our healthcare services operation, $183 million of expenses related to employee incentive payments linked to the realization of value at our advanced energy storage operation, $59 million of net revaluation losses, $57 million of business separation expenses, stand-up costs and restructuring charges, $19 million of net loss on debt modification and extinguishment, $3 million of transaction costs and $18 million of other expenses.
    2 Equity accounted Adjusted EBITDA corresponds to the Adjusted EBITDA attributable to the partnership that is generated by its investments in associates and joint ventures accounted for using the equity method.
    3 Amounts attributable to non-controlling interests are calculated based on the economic ownership interests held by the non-controlling interests in consolidated subsidiaries.

    Brookfield Business Partners L.P.
    Reconciliation of Non-IFRS Measure
     
    US$ millions, unaudited   Six Months Ended June 30, 2025
      Business
    Services
      Infrastructure
    Services
      Industrials   Corporate
    and Other
      Total
                         
    Net income (loss)   $ 253     $ (17 )   $ 240     $ (85 )   $ 391  
                         
    Add or subtract the following:                    
    Depreciation and amortization expense     430       340       727             1,497  
    Impairment reversal (expense), net                 14             14  
    Gain (loss) on dispositions, net     (6 )     (214 )                 (220 )
    Other income (expense), net1     (132 )     (3 )     322       (1 )     186  
    Income tax (expense) recovery     27       35       25       (19 )     68  
    Equity accounted income (loss)     (8 )     22       (29 )           (15 )
    Interest income (expense), net     468       291       767       45       1,571  
    Equity accounted Adjusted EBITDA2     52       73       35             160  
    Amounts attributable to non-controlling interests3     (666 )     (314 )     (1,490 )           (2,470 )
    Adjusted EBITDA   $ 418     $ 213     $ 611     $ (60 )   $ 1,182  

    Notes:
    1 Other income (expense), net corresponds to amounts that are not directly related to revenue earning activities and are not normal, recurring income or expenses necessary for business operations. The components of other income (expense), net include $236 million of net gain recognized upon the deconsolidation of our healthcare services operation, $183 million of expenses related to employee incentive payments linked to the realization of value at our advanced energy storage operation, $135 million of business separation expenses, stand-up costs and restructuring charges, $125 million of unrealized gains recorded on reclassification of property, plant and equipment to finance leases at our offshore oil services operation, $110 million of net revaluation losses, $38 million of transaction costs, $22 million of net loss on debt modification and extinguishment and $59 million of other expenses.
    2 Equity accounted Adjusted EBITDA corresponds to the Adjusted EBITDA attributable to the partnership that is generated by our investments in associates and joint ventures accounted for using the equity method.
    3 Amounts attributable to non-controlling interests are calculated based on the economic ownership interests held by the non-controlling interests in consolidated subsidiaries.

    Brookfield Business Partners L.P.
    Reconciliation of Non-IFRS Measure
     
    US$ millions, unaudited   Three Months Ended June 30, 2024
      Business
    Services
      Infrastructure
    Services
      Industrials   Corporate
    and Other
      Total
                         
    Net income (loss)   $ (5 )   $ (92 )   $ 216     $ (54 )   $ 65  
                         
    Add back or deduct the following:                    
    Depreciation and amortization expense     248       222       339             809  
    Gain (loss) on dispositions, net                 (84 )           (84 )
    Other income (expense), net1     51       22       26       1       100  
    Income tax expense (recovery)     (17 )     4       (91 )     (13 )     (117 )
    Equity accounted income (loss)     (5 )     (11 )     (15 )           (31 )
    Interest income (expense), net     253       178       309       38       778  
    Equity accounted Adjusted EBITDA2     18       44       15             77  
    Amounts attributable to non-controlling interests3     (361 )     (210 )     (502 )           (1,073 )
    Adjusted EBITDA   $ 182     $ 157     $ 213     $ (28 )   $ 524  

    Notes:
    1 Other income (expense), net corresponds to amounts that are not directly related to revenue earning activities and are not normal, recurring income or expenses necessary for business operations. The components of other income (expense), net include $82 million related to provisions recorded at our construction operation, $49 million of net gains on debt modification and extinguishment, $41 million of business separation expenses, stand-up costs, and restructuring charges, $21 million of net revaluation gains, $8 million of transaction costs and $39 million of other expenses.
    2 Equity accounted Adjusted EBITDA corresponds to the Adjusted EBITDA attributable to the partnership that is generated by our investments in associates and joint ventures accounted for using the equity method.
    3 Amounts attributable to non-controlling interests are calculated based on the economic ownership interests held by the non-controlling interests in consolidated subsidiaries.

    Brookfield Business Partners L.P.
    Reconciliation of Non-IFRS Measure
     
    US$ millions, unaudited   Six Months Ended June 30, 2024
      Business
    Services
      Infrastructure
    Services
      Industrials   Corporate
    and Other
      Total
                         
    Net income (loss)   $ 235     $ (157 )   $ 314     $ (124 )   $ 268  
                         
    Add back or deduct the following:                    
    Depreciation and amortization expense     502       434       681             1,617  
    Impairment reversal (expense), net     (4 )     (12 )     6             (10 )
    Gain (loss) on dispositions, net     (15 )           (84 )           (99 )
    Other income (expense), net1     (89 )     4       58       11       (16 )
    Income tax expense (recovery)     7       1       (118 )     (22 )     (132 )
    Equity accounted income (loss), net     (6 )     (15 )     (33 )           (54 )
    Interest income (expense), net     505       358       636       75       1,574  
    Equity accounted Adjusted EBITDA2     35       83       31             149  
    Amounts attributable to non-controlling interests3     (783 )     (396 )     (1,050 )           (2,229 )
    Adjusted EBITDA   $ 387     $ 300     $ 441     $ (60 )   $ 1,068  

    Notes:
    1 Other income (expense), net corresponds to amounts that are not directly related to revenue earning activities and are not normal, recurring income or expenses necessary for business operations. The components of other income (expense), net include $179 million of net revaluation gains, $82 million related to provisions recorded at our construction operation, $61 million of business separation expenses, stand-up costs and restructuring charges, $50 million of other income related to a distribution at our entertainment operation, $38 million of net gains on debt modification and extinguishment, $29 million of transaction costs and $79 million of other expenses.
    2 Equity accounted Adjusted EBITDA corresponds to the Adjusted EBITDA attributable to the partnership that is generated by our investments in associates and joint ventures accounted for using the equity method.
    3 Amounts attributable to non-controlling interests are calculated based on the economic ownership interests held by the non-controlling interests in consolidated subsidiaries.

    Brookfield Business Corporation Reports Second Quarter 2025 Results
     

    Brookfield, News, August 1, 2025 – Brookfield Business Corporation (NYSE, TSX: BBUC) announced today its net income (loss) for the quarter ended June 30, 2025.

      Three Months Ended
    June 30,
      Six Months Ended
    June 30,
    US$ millions, unaudited   2025     2024     2025     2024  
               
    Net income (loss) attributable to Brookfield Business Partners $ (120 ) $ 124   $ (178 ) $ (26 )

    Net loss attributable to Brookfield Business Partners for the three months ended June 30, 2025 was $120 million, compared to net income of $124 million during the same period in 2024. Current period results included $176 million of remeasurement loss on our exchangeable and class B shares that are classified as liabilities under IFRS and a net gain recognized upon the deconsolidation of our healthcare services operation due to loss of control. Prior period results reflect the impact of reduced contribution from our construction operation. As at June 30, 2025, the exchangeable and class B shares were remeasured to reflect the closing price of $25.93 per unit.

    Dividend

    The Board of Directors has declared a quarterly dividend in the amount of $0.0625 per share, payable on September 29, 2025 to shareholders of record as at the close of business on August 29, 2025.

    Additional Information

    Each exchangeable share of Brookfield Business Corporation has been structured with the intention of providing an economic return equivalent to one unit of Brookfield Business Partners L.P. Each exchangeable share will be exchangeable at the option of the holder for one unit. Brookfield Business Corporation will target that dividends on its exchangeable shares be declared and paid at the same time as distributions are declared and paid on the Brookfield Business Partners’ units and that dividends on each exchangeable share will be declared and paid in the same amount as distributions are declared and paid on each unit to provide holders of exchangeable shares with an economic return equivalent to holders of units.

    In addition to carefully considering the disclosures made in this news release in its entirety, shareholders are strongly encouraged to carefully review the Letter to Unitholders, Supplemental Information and other continuous disclosure filings which are available at https://bbu.brookfield.com.

    Please note that Brookfield Business Corporation’s previous audited annual and unaudited quarterly reports have been filed on SEDAR+ and EDGAR and are available at https://bbu.brookfield.com/bbuc under Reports & Filings. Hard copies of the annual and quarterly reports can be obtained free of charge upon request.

    Brookfield Business Corporation
    Consolidated Statements of Financial Position
     
      As at
    US$ millions, unaudited June 30, 2025   December 31, 2024
               
    Assets          
    Cash and cash equivalents   $ 613     $ 1,008
    Financial assets     290       353
    Accounts and other receivable, net     3,234       3,229
    Inventory, net     26       52
    Other assets     517       627
    Property, plant and equipment     181       2,480
    Deferred income tax assets     236       197
    Intangible assets     5,980       5,966
    Equity accounted investments     187       198
    Goodwill     5,018       4,988
    Total Assets   $ 16,282     $ 19,098
               
    Liabilities and Equity          
    Liabilities          
    Accounts payable and other   $ 2,981     $ 5,276
    Non-recourse borrowings in subsidiaries of the company     7,940       8,490
    Exchangeable and class B shares     1,815       1,709
    Deferred income tax liabilities     967       988
               
    Equity          
    Brookfield Business Partners $ (159 )     $ (59 )  
    Non-controlling interests   2,738         2,694    
          2,579       2,635
    Total Liabilities and Equity   $ 16,282     $ 19,098
    Brookfield Business Corporation
    Consolidated Statements of Operating Results
     
    US$ millions, unaudited Three Months Ended
    June 30,
      Six Months Ended
    June 30,
      2025     2024       2025     2024  
               
    Revenues $ 1,860   $ 1,929     $ 3,826   $ 3,794  
    Direct operating costs   (1,695 )   (1,860 )     (3,484 )   (3,512 )
    General and administrative expenses   (69 )   (77 )     (144 )   (141 )
    Interest income (expense), net   (212 )   (203 )     (431 )   (413 )
    Equity accounted income (loss)   2     2       5     3  
    Impairment reversal (expense), net                 (2 )
    Remeasurement of exchangeable and class B shares   (176 )   237       (183 )   126  
    Other income (expense), net   236     (59 )     202     (70 )
    Income (loss) before income tax   (54 )   (31 )     (209 )   (215 )
    Income tax (expense) recovery          
    Current   14     16       (9 )   (28 )
    Deferred   17     55       60     109  
    Net income (loss) $ (23 ) $ 40     $ (158 ) $ (134 )
    Attributable to:          
    Brookfield Business Partners   (120 )   124       (178 )   (26 )
    Non-controlling interests $ 97   $ (84 )   $ 20   $ (108 )


    Cautionary Statement Regarding Forward-looking Statements and Information

    Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable Canadian and U.S. securities laws. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, include statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of Brookfield Business Partners, as well as regarding recently completed and proposed acquisitions, dispositions, and other transactions, and the outlook for North American and international economies for the current fiscal year and subsequent periods, and include words such as “expects”, “anticipates”, “plans”, “believes”, “estimates”, “seeks”, “intends”, “targets”, “projects”, “forecasts”, “views”, “potential”, “likely” or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”.

    Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, investors and other readers should not place undue reliance on forward-looking statements and information because they involve assumptions, known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance or achievements of Brookfield Business Partners to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements and information. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to us or are within our control. If a change occurs, our business, financial condition, liquidity and results of operations and our plans and strategies may vary materially from those expressed in the forward-looking statements and forward-looking information herein.

    Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to, the following: the cyclical nature of our operating businesses and general economic conditions and risks relating to the economy, including unfavorable changes in interest rates, foreign exchange rates, inflation, commodity prices and volatility in the financial markets; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; business competition, including competition for acquisition opportunities; strategic actions including our ability to complete dispositions and achieve the anticipated benefits therefrom; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; changes to U.S. laws or policies, including changes in U.S. domestic and economic policies as well as foreign trade policies and tariffs; technological change; litigation; cybersecurity incidents; the possible impact of international conflicts, wars and related developments including terrorist acts and cyber terrorism; operational, or business risks that are specific to any of our business services operations, infrastructure services operations or industrials operations; changes in government policy and legislation; catastrophic events, such as earthquakes, hurricanes and pandemics/epidemics; changes in tax law and practice; and other risks and factors detailed from time to time in our documents filed with the securities regulators in Canada and the United States including those set forth in the “Risk Factors” section in our annual report for the year ended December 31, 2024 filed on Form 20-F.

    Statements relating to “reserves” are deemed to be forward-looking statements as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described herein can be profitably produced in the future. We qualify any and all of our forward-looking statements by these cautionary factors.

    We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on our forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.

    Cautionary Statement Regarding the Use of a Non-IFRS Measure

    This news release contains references to a Non-IFRS measure. Adjusted EBITDA is not a generally accepted accounting measure under IFRS and therefore may differ from definitions used by other entities. We believe this is a useful supplemental measure that may assist investors in assessing the financial performance of Brookfield Business Partners and its subsidiaries. However, Adjusted EBITDA should not be considered in isolation from, or as a substitute for, analysis of our financial statements prepared in accordance with IFRS.

    References to Brookfield Business Partners are to Brookfield Business Partners L.P. together with its subsidiaries, controlled affiliates and operating entities. Unitholders’ results include limited partnership units, redemption-exchange units, general partnership units, BBUC exchangeable shares and special limited partnership units. More detailed information on certain references made in this news release will be available in our Management’s Discussion and Analysis of Financial Condition and Results of Operations in our interim report for the second quarter ended June 30, 2025 furnished on Form 6-K.

    The MIL Network

  • MIL-OSI: NANO Nuclear Selected for Inclusion in the Solactive Global Uranium & Nuclear Components Total Return Index, Qualifying It for Inclusion in the Prominent Global X Uranium ETF (“URA”)

    Source: GlobeNewswire (MIL-OSI)

    With over $4 billion in net assets, the Global X Uranium ETF is the world’s preeminent ETF providing investors broad exposure to companies involved in uranium mining and the production of nuclear components

    New York, N.Y., Aug. 01, 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 been selected for inclusion in the Solactive Global Uranium & Nuclear Components Total Return Index, following the Index’s semiannual review and subsequent rebalancing.

    Effective as of August 1, 2025, NANO Nuclear’s common stock will be included in the Solactive Global Uranium & Nuclear Components Total Return Index, an Index of Solactive AG which tracks the price movements in shares of companies that have (or are expected to have) exposure to the uranium industry. This particularly includes uranium mining, exploration, uranium investments and technologies (such as NANO Nuclear’s micro modular nuclear reactors under development) related to the uranium industry

    The Solactive Global Uranium & Nuclear Components Total Return Index serves as a benchmark for exchange-traded funds (or ETFs) and other investment products, with NANO Nuclear’s inclusion reflecting its growing presence in the global nuclear energy and uranium supply chain.

    As a result of this addition, NANO Nuclear’s common stock now qualifies for inclusion in the prominent Global X Uranium ETF (ticker “URA”), with approximately $4 billion in net assets, which passively tracks the Solactive Global Uranium & Nuclear Components Total Return Index. Notably, the Global X Uranium ETF is the world’s preeminent ETF providing investors broad exposure to companies involved in uranium mining and the production of nuclear components.

    Figure 1 – NANO Nuclear Energy Inc. Selected for inclusion in the Solactive Global Uranium & Nuclear Components Total Return Index, qualifying it for inclusion in the prominent Global X Uranium ETF (“URA”)

    “Our team has executed well on our stated strategic priorities, strengthening our market position and building collaborations that support our long‑term growth and valuation,” said Jay Yu, Founder and Chairman of NANO Nuclear. “Inclusion in Solactive’s Global Uranium & Nuclear Components Total Return Index and the Global X Uranium ETF marks these achievements and is another positive step in our trajectory, highlighting our expanding role in the global nuclear energy industry. It is a testament to the hard work being done by our team to steadily grow our company, advance our technologies, and deliver value to our shareholders both now and in the future.”

    “This is an important milestone for NANO Nuclear, and we are proud to be included in Solactive’s coverage of the nuclear and uranium industry,” said James Walker, Chief Executive Officer of NANO Nuclear. “We continue to take proactive steps to advance NANO Nuclear’s various development programs and initiatives and create shareholder value. This inclusion increases our visibility in the public markets and connects us with investors who are interested in this growing sector. We look forward to leveraging this exposure as we continue to grow and progress our business plans.”

    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 MMREnergy 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 of NANO Nuclear’s inclusion in the index and ETF described herein and its plans and goals generally. 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 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 recently enacted ADVANCE Act and the May 23, 2025 Executive Orders seeking to streamline nuclear regulation, 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: TransAlta Reports Strong Second Quarter 2025 Results, Advancement of Strategic Priorities and Reaffirms Guidance

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, Aug. 01, 2025 (GLOBE NEWSWIRE) — TransAlta Corporation (TransAlta or the Company) (TSX: TA) (NYSE: TAC) today reported its financial results for the second quarter ended June 30, 2025.

    “Our strong second quarter results illustrate the value of our diversified fleet and exceptional operational performance. Our Alberta portfolio’s hedging strategy and active asset optimization continued to generate realized prices well above spot prices while environmental credits generated by our hydro and wind assets significantly offset our gas fleet’s carbon price compliance obligation. While we continue to navigate a challenging Alberta price environment, our assets continue to perform well, and we remain confident in achieving our 2025 Outlook,” said John Kousinioris, President and Chief Executive Officer.

    “Our team remains focused on advancing our strategic priorities. We are pleased with the progress on our Alberta data centre strategy and the associated negotiations, which now reflect the Alberta Electric System Operator’s (AESO) approach to large load integration. The AESO currently expects Demand Transmission Service contracts to be executed in mid-September, which will secure each proponent’s access to system capacity. We continue to work closely with our counterparties and are progressing towards the execution of a data centre memorandum of understanding in relation to our system capacity allocation,” added Mr. Kousinioris.

    “Finally, we continue to progress negotiations on conversion opportunities at Centralia and are working towards executing a definitive agreement later this year with our customer for the full capacity of Centralia Unit 2.”

    Second Quarter 2025 Highlights

    • Achieved strong operational availability of 91.6 per cent in 2025, compared to 90.8 per cent in 2024
    • Adjusted EBITDA(1) of $349 million, compared to $316 million for the same period in 2024
    • Free Cash Flow (FCF)(1) of $177 million, or $0.60 per share, remained consistent with the same period in 2024
    • Adjusted earnings before income taxes(1) of $122 million, or $0.41 per share, compared to $112 million, or $0.37 per share, for the same period in 2024
    • Cash flow from operating activities of $157 million, or $0.53 per share, compared to $108 million, or $0.36 per share, from the same period in 2024
    • Net loss attributable to common shareholders(1) of $112 million, or $0.38 per share, compared to net earnings attributable to common shareholders of $56 million, or $0.18 per share, for the same period in 2024

    Second Quarter 2025 Operational and Financial Highlights

    $ millions, unless otherwise stated Three Months Ended Six Months Ended
    June 30,
    2025
    June 30,
    2024
    June 30,
    2025
    June 30,
    2024
    Operational information        
    Availability (%) 91.6   90.8 93.3   91.5
    Production (GWh) 4,813   4,781 11,645   10,959
    Select financial information        
    Revenues 433   582 1,191   1,529
    Adjusted EBITDA(1) 349   316 619   658
    Adjusted earnings before income taxes(1) 122   112 150   256
    (Loss) earnings before income taxes (95 ) 94 (46 ) 361
    Adjusted net earnings after taxes attributable to common shareholders(1) 54   70 84   197
    Net (loss) earnings attributable to common shareholders (112 ) 56 (66 ) 278
    Cash flows        
    Cash flow from operating activities 157   108 164   352
    Funds from operations(1) 252   236 431   490
    Free cash flow(1) 177   177 316   398
    Per share        
    Adjusted net earnings attributable to common shareholders per share(1) 0.18   0.23 0.28   0.64
    Net (loss) earnings per share attributable to common shareholders, basic and diluted (0.38 ) 0.18 (0.22 ) 0.91
    Cash flow from operating activities per share 0.53   0.36 0.55   1.15
    Funds from operations per share(1) 0.85   0.78 1.45   1.60
    FCF per share(1) 0.60   0.58 1.06   1.30
    Dividends declared per common share   0.06 0.07   0.06
    Weighted average number of common shares outstanding 297   303 297   306


    Segmented Financial Performance

    $ millions

    Three Months Ended Six Months Ended
    June 30,
    2025
    June 30,
    2024
    June 30,
    2025
    June 30,
    2024
    Hydro 126   83   173   170  
    Wind and Solar 89   88   191   177  
    Gas 128   142   232   267  
    Energy Transition 19   2   56   29  
    Energy Marketing 26   39   47   78  
    Corporate (39 ) (38 ) (80 ) (63 )
    Total adjusted EBITDA(1)(2) 349   316   619   658  
    Adjusted earnings before income taxes(1) 122   112   150   256  
    (Loss) earnings before income taxes (95 ) 94   (46 ) 361  
    Adjusted net earnings attributable to common shareholders(1) 54   70   84   197  
    Net (loss) earnings attributable to common shareholders (112 ) 56   (66 ) 278  


    Key Business Developments

    Credit Facility Extension

    On July 16, 2025, the Company executed agreements to extend committed credit facilities totalling $2.1 billion with a syndicate of lenders. The revised agreements extend the maturity dates of the syndicated credit facility from June 30, 2028 to June 30, 2029 and the bilateral credit facilities from June 30, 2026 to June 30, 2027.

    Divestiture of Poplar Hill

    During the second quarter of 2025, the Company signed an agreement for the divestiture of the 48 MW Poplar Hill asset, as required by the consent agreement with the federal Competition Bureau and pursuant to the terms of the acquisition of Heartland Generation. Energy Capital Partners will be entitled to receive the proceeds from the sale of Poplar Hill, net of certain adjustments, following completion of the divestiture.

    Recontracting of Ontario Wind Facilities

    During the second quarter of 2025, the Company successfully recontracted its Melancthon 1, Melancthon 2 and Wolfe Island wind facilities through the Ontario Independent Electricity System Operator Five-Year Medium-Term 2 Energy Contract (MT2e). MT2e will replace current energy contracts for the three wind facilities when they expire, extending the contract dates until April 30, 2031, for Melancthon 1 and April 30, 2034, for Melancthon 2 and Wolfe Island.

    Normal Course Issuer Bid (NCIB)

    On May 27, 2025, the Company announced that it had received approval from the Toronto Stock Exchange to repurchase up to a maximum of 14 million common shares during the 12-month period that commenced May 31, 2025 and will terminate on May 30, 2026.

    On Feb. 19, 2025, the Company announced it was allocating up to $100 million to be returned to shareholders in the form of share repurchases.

    During the six months ended June 30, 2025, the Company purchased and cancelled a total of 1,932,800 common shares at an average price of $12.42 per common share, for a total cost of $24 million, including taxes.

    Conference call and webcast

    TransAlta will host a conference call and webcast at 9:00 a.m. MST (11:00 a.m. EST) today, August 1, 2025, to discuss our second quarter 2025 results. The call will begin with comments from John Kousinioris, President and Chief Executive Officer, and Joel Hunter, EVP Finance and Chief Financial Officer, followed by a question-and-answer period.

    Second Quarter 2025 Conference Call

    Webcast link: https://edge.media-server.com/mmc/p/zpy9addj

    To access the conference call via telephone, please register ahead of time using the call link here: https://register-conf.media-server.com/register/BI215de673b3704e0da46b2a02e0f35bb0. Once registered, participants will have the option of 1) dialing into the call from their phone (via a personalized PIN); or 2) clicking the “Call Me” option to receive an automated call directly to their phone.

    If you are unable to participate in the call, the replay will be accessible at https://edge.media-server.com/mmc/p/zpy9addj. A transcript of the broadcast will be posted on TransAlta’s website once it becomes available.

    Related Materials

    Related materials, including the consolidated financial statements and Management’s Discussion and Analysis (MD&A) will be available on the Investor Centre section of TransAlta’s website at https://transalta.com/investors/presentations-and-events/ and https://transalta.com/investors/results-reporting/ and have been filed under TransAlta Corporation’s profile on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov.

    Notes

    1. These items (Adjusted EBITDA, adjusted earnings (loss) before income taxes, adjusted net earnings (loss) after income taxes attributable to common shareholders, funds from operations, free cash flow, adjusted net earnings attributable to common shareholders per share, funds from operations (FFO) per share and free cash flow (FCF) per share) are non-IFRS measures, which are not defined, have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Presenting these items from period to period provides management and investors with the ability to evaluate earnings (loss) trends more readily in comparison with prior periods’ results. Please refer to the Non-IFRS financial measures section of this earnings release for further discussion of these items, including, where applicable, reconciliations to measures calculated in accordance with IFRS.
    2. During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods. Refer to the Additional Non-IFRS and Supplementary Financial Measures section of this earnings release.

    Non-IFRS financial measures

    We use a number of financial measures to evaluate our performance and the performance of our business segments, including measures and ratios that are presented on a non-IFRS basis, as described below. Unless otherwise indicated, all amounts are in Canadian dollars and have been derived from our consolidated financial statements prepared in accordance with IFRS. We believe that these non-IFRS amounts, measures and ratios, read together with our IFRS amounts, provide readers with a better understanding of how management assesses results.

    Non-IFRS amounts, measures and ratios do not have standardized meanings under IFRS. They are unlikely to be comparable to similar measures presented by other companies and should not be viewed in isolation from, as an alternative to, or more meaningful than, our IFRS results.

    We calculate adjusted measures by adjusting certain IFRS measures for certain items we believe are not reflective of our ongoing operations in the period. Except as otherwise described, these adjusted measures are calculated on a consistent basis from period to period and are adjusted for specific items in each period, unless stated otherwise.

    Adjusted EBITDA

    Each business segment assumes responsibility for its operating results measured by adjusted EBITDA. Adjusted EBITDA is an important metric for management that represents our core operational results.

    During the first quarter of 2025, our adjusted EBITDA composition was amended to remove the impact of realized gain (loss) on closed exchange positions, which was included in adjusted EBITDA composition until the fourth quarter of 2024. The adjustment was intended to explain a timing difference between our internally and externally reported results and was useful at a time when markets were more volatile. The impact of realized gain (loss) on closed exchange positions was removed to simplify our reporting. Accordingly, the Company has applied this composition to all previously reported periods.

    During the first quarter of 2025, our adjusted EBITDA composition was amended to remove the impact of Australian interest income, which was included in adjusted EBITDA composition until the fourth quarter of 2024. Initially, on the commissioning of the South Hedland facility in July 2017, we prepaid approximately $74 million of electricity transmission and distribution costs. Interest income, which was recorded on the prepaid funds, was reclassified as a reduction in the transmission and distribution costs expensed each period to reflect the net cost to the business. The impact of Australian interest income was removed to simplify our reporting since the amounts were not material. Accordingly, the Company has applied this composition to all previously reported periods.

    Interest, taxes, depreciation and amortization are not included, as differences in accounting treatment may distort our core business results. In addition, certain reclassifications and adjustments are made to better assess results, excluding those items that may not be reflective of ongoing business performance. This presentation may facilitate the readers’ analysis of trends. The most directly comparable IFRS measure is earnings before income taxes.

    Adjusted Revenue

    Adjusted Revenues is Revenues (the most directly comparable IFRS measure) adjusted to exclude:

    The impact of unrealized mark-to-market gains or losses and unrealized foreign exchange gains or losses on commodity transactions.

    Certain assets that we own in Canada and Western Australia are fully contracted and recorded as finance leases under IFRS. We believe that it is more appropriate to reflect the payments we receive under the contracts as a capacity payment in our revenues instead of as finance lease income and a decrease in finance lease receivables.

    Revenues from the Planned Divestitures as they do not reflect ongoing business performance.

    Adjusted Fuel and Purchased Power

    Adjusted Fuel and Purchased Power is Fuel and Purchased Power (the most directly comparable IFRS measure) adjusted to exclude fuel and purchased power from the Planned Divestitures as it does not reflect ongoing business performance.

    Adjusted Gross Margin

    Adjusted gross margin is calculated as adjusted revenues less adjusted fuel and purchased power and carbon compliance costs, where adjustments to revenue or fuel and purchased power were applied as stated above. The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment. The most directly comparable IFRS measure is gross margin in the consolidated statement of earnings.

    Adjusted OM&A

    Adjusted OM&A is OM&A (the most directly comparable IFRS measure) adjusted to exclude:

    Acquisition-related transaction and restructuring costs, mainly comprised of severance, legal and consultant fees as these do not reflect ongoing business performance.

    ERP integration costs representing planning, design and integration costs of upgrades to the existing ERP system as they represent project costs that do not occur on a regular basis, and therefore do not reflect ongoing performance.

    OM&A from the Planned Divestitures as it does not reflect ongoing business performance.

    Adjusted Net Other Operating Income

    Adjusted Net Other Operating Income is Net Other Operating Income (the most directly comparable IFRS measure) adjusted to exclude insurance recoveries related to the Kent Hills replacement costs of the tower collapse as these relate to investing activities and are not reflective of ongoing business performance.

    Adjustments to Earnings (Loss) in Addition to Interest, Taxes, Depreciation and Amortization

    • Fair value change in contingent consideration payable is not included as it is not reflective of ongoing business performance.
    • Asset impairment charges and reversals are not included as these are accounting adjustments that impact depreciation and amortization and do not reflect ongoing business performance.
    • Any gains or losses on asset sales or foreign exchange gains or losses are not included as these are not part of operating income.

    Adjustments for Equity-Accounted Investments

    • During the fourth quarter of 2020, we acquired a 49 per cent interest in the Skookumchuck wind facility, which is treated as an equity investment under IFRS and our proportionate share of the net earnings is reflected as equity income on the statement of earnings under IFRS. As this investment is part of our regular power-generating operations, we have included our proportionate share of adjusted EBITDA for the Skookumchuck wind facility in our total adjusted EBITDA. In addition, in the Wind and Solar adjusted results, we have included our proportionate share of revenues and expenses to reflect the full operational results of this investment. We have not included adjusted EBITDA of other equity-accounted investments in our total adjusted EBITDA as it does not represent our regular power-generating operations.

    Adjusted Earnings (Loss) before income taxes

    Adjusted earnings (loss) before income taxes represents segmented earnings (loss) adjusted for certain items that we believe do not reflect ongoing business performance and is an important metric for evaluating performance trends in each segment.

    For details of the adjustments made to earnings (loss) before income taxes (the most directly comparable IFRS measure) to calculate adjusted earnings (loss) before income taxes, refer to the Reconciliation of Non-IFRS Measures on a Consolidated Basis by Segment section of the MD&A.

    Adjusted Net Earnings (Loss) attributable to common shareholders

    Adjusted net earnings (loss) attributable to common shareholders represents net earnings (loss) attributable to common shareholders adjusted for specific reclassifications and adjustments and their tax impact, and is an important metric for evaluating performance. For details of the reclassifications and adjustments made to net earnings (loss) attributable to common shareholders (the most directly comparable IFRS measure), please refer to the reconciliation of net earnings (loss) to adjusted net earnings (loss) attributable to common shareholders in the Reconciliation of Non-IFRS Measures on a Consolidated Basis by Segment section of the MD&A.

    Adjusted Net Earnings (Loss) per common share attributable to common shareholders

    Adjusted net earning (loss) per common share attributable to common shareholders is calculated as adjusted net earnings (loss) attributable to common shareholders divided by a weighted average number of common shares outstanding during the period. The measure is useful in showing the earnings per common share for our core operational results as it excludes the impact of items that do not reflect an ongoing business performance. Adjusted net earnings (loss) attributable per common share is a non-IFRS ratio and the most directly comparable IFRS measure is net income (loss) per common share attributable to common shareholders. Refer to the reconciliation of earnings (loss) before income taxes to adjusted net earnings (loss) attributable to common shareholders in the Reconciliation of Non-IFRS Measures on a Consolidated Basis by Segment section of the MD&A.

    Funds From Operations (FFO)

    Represents a proxy for cash generated from operating activities before changes in working capital and provides the ability to evaluate cash flow trends in comparison with results from prior periods. FFO is calculated as cash flow from operating activities before changes in working capital and is adjusted for transactions and amounts that the Company believes are not representative of ongoing cash flows from operations.

    Free Cash Flow (FCF)

    Represents the amount of cash that is available to invest in growth initiatives, make scheduled principal debt repayments, repay maturing debt, pay common share dividends or repurchase common shares and provides the ability to evaluate cash flow trends in comparison with the results from prior periods. Changes in working capital are excluded so that FFO and FCF are not distorted by changes that we consider temporary in nature, reflecting, among other things, the impact of seasonal factors and timing of receipts and payments.

    Non-IFRS Ratios

    FFO per share, FCF per share and adjusted net debt to adjusted EBITDA are non-IFRS ratios that are presented in the MD&A. Refer to the Reconciliation of Cash Flow from Operations to FFO and FCF and Key Non-IFRS Financial Ratios sections of the MD&A for additional information.

    Net Interest Expense

    Net interest expense is calculated as total interest expense less total interest income and non-cash items. For detailed calculation refer to the table in the Reconciliation of Adjusted EBITDA to FFO and FCF section of this MD&A. Net Interest expense is a proxy for the actual cash interest paid that approximates the cash outflow in the FFO and FCF calculation. The most directly comparable IFRS measure is total interest expense.

    FFO per share and FCF per share

    FFO per share and FCF per share are calculated using the weighted average number of common shares outstanding during the period. FFO per share and FCF per share are non-IFRS ratios.

    Supplementary financial measures include available liquidity, carbon compliance per MWh, fuel cost per MWh, hedged power price average per MWh, realized foreign exchange loss, sustaining capital expenditures, the Alberta electricity portfolio metrics and unrealized foreign exchange loss (gain).

    Reconciliation of these non-IFRS financial measures to the most comparable IFRS measure are provided below.

    Reconciliation of Non-IFRS Measures on a Consolidated Basis by Segment

    The following table reflects adjusted EBITDA and adjusted earnings (loss) before income taxes by segment and provides reconciliation to earnings (loss) before income taxes for the three months ended June 30, 2025:

      Hydro Wind &
    Solar(1)
    Gas Energy
    Transition
    Energy
    Marketing
    Corporate Total Equity-
    accounted
    investments(1)
    Reclass
    adjustments
    IFRS
    financials
    Revenues 129   59   204   73   38   (67 ) 436   (3 )   433  
    Reclassifications and adjustments:                  
    Unrealized mark-to-market (gain) loss 18   68   71   15   (2 )   170     (170 )  
    Decrease in finance lease receivable     7         7     (7 )  
    Finance lease income   2   3         5     (5 )  
    Revenues from Planned Divestitures     (3 )       (3 )   3    
    Unrealized foreign exchange gain on commodity         (2 )   (2 )   2    
    Adjusted revenue 147   129   282   88   34   (67 ) 613   (3 ) (177 ) 433  
    Fuel and purchased power 7   9   106   51       173       173  
    Reclassifications and adjustments:                    
    Fuel and purchased power related to Planned Divestitures     (1 )       (1 )   1    
    Adjusted fuel and purchased power 7   9   105   51       172     1   173  
    Carbon compliance costs (recovery)   1   (8 )     (67 ) (74 )     (74 )
    Adjusted gross margin 140   119   185   37   34     515   (3 ) (178 ) 334  
    OM&A 13   25   65   18   8   45   174   (1 )   173  
    Reclassifications and adjustments:                    
    OM&A related to Planned Divestitures     (1 )       (1 )   1    
    ERP integration costs           (6 ) (6 )   6    
    Acquisition-related transaction and restructuring costs           (1 ) (1 )   1    
    Adjusted OM&A 13   25   64   18   8   38   166   (1 ) 8   173  
    Taxes, other than income taxes 1   5   5       1   12       12  
    Net other operating income     (12 )       (12 )     (12 )
    Adjusted EBITDA(2) 126   89   128   19   26   (39 ) 349        
    Depreciation and amortization (8 ) (52 ) (74 ) (13 )   (4 ) (151 ) 1     (150 )
    Equity income                 1   1  
    Interest income           7   7   (1 )   6  
    Interest expense           (89 ) (89 ) 1     (88 )
    Realized foreign exchange gain           6   6       6  
    Adjusted earnings (loss) before income taxes(2) 118   37   54   6   26   (119 ) 122        
    Reclassifications and adjustments above (18 ) (70 ) (80 ) (15 ) 4   (7 ) (186 )      
    Finance lease income   2   3         5       5  
    Skookumchuk earnings reclass to Equity income(1)   (1 )       1          
    Asset impairment charges       (11 )   (2 ) (13 )     (13 )
    Unrealized foreign exchange loss           (23 ) (23 )     (23 )
    Earnings (loss) before income taxes 100   (32 ) (23 ) (20 ) 30   (150 ) (95 )     (95 )
    1. The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment.
    2. Adjusted EBITDA, adjusted earnings (loss) before income taxes are non-IFRS measures, are not defined, have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Refer to the Additional Non-IFRS and Supplementary Financial Measures section of this earnings release.

    The following table reflects adjusted EBITDA and adjusted earnings (loss) before income taxes by segment and provides reconciliation to earnings (loss) before income taxes for the three months ended June 30, 2024:

      Hydro Wind &
    Solar(1)
    Gas Energy
    Transition
    Energy
    Marketing
    Corporate Total Equity-
    accounted
    investments(1)
    Reclass
    adjustments
    IFRS
    financials
    Revenues 99   112   284   79   47   (34 ) 587   (5 )   582  
    Reclassifications and adjustments:                  
    Unrealized mark-to-market (gain) loss 1   8   10   (14 ) 1     6     (6 )  
    Decrease in finance lease receivable     5         5     (5 )  
    Finance lease income   2   2         4     (4 )  
    Unrealized foreign exchange gain on commodity     (1 )       (1 )   1    
    Adjusted revenue 100   122   300   65   48   (34 ) 601   (5 ) (14 ) 582  
    Fuel and purchased power 3   8   97   46       154       154  
    Carbon compliance costs (recovery)     26       (34 ) (8 )     (8 )
    Adjusted gross margin 97   114   177   19   48     455   (5 ) (14 ) 436  
    OM&A 13   24   42   15   9   42   145   (1 )   144  
    Reclassifications and adjustments:                  
    Acquisition-related transaction and restructuring costs           (4 ) (4 )   4    
    Adjusted OM&A 13   24   42   15   9   38   141   (1 ) 4   144  
    Taxes, other than income taxes 1   4   3   2       10   (1 )   9  
    Net other operating income   (2 ) (10 )       (12 )     (12 )
    Adjusted EBITDA(2)(3) 83   88   142   2   39   (38 ) 316        
    Depreciation and amortization (8 ) (47 ) (56 ) (15 ) (1 ) (5 ) (132 ) 1     (131 )
    Equity income           1   1     2   3  
    Interest income           8   8       8  
    Interest expense           (80 ) (80 )     (80 )
    Realized foreign exchange loss(3)           (1 ) (1 )     (1 )
    Adjusted earnings (loss) before income taxes(2) 75   41   86   (13 ) 38   (115 ) 112        
    Reclassifications and adjustments above (1 ) (10 ) (16 ) 14   (1 ) (4 ) (18 )      
    Finance lease income   2   2         4       4  
    Skookumchuk earnings reclass to Equity income(1)   (2 )       2          
    Asset impairment (charges) reversals   (1 )   1     (5 ) (5 )     (5 )
    Gain on sale of assets and other(3)       1       1       1  
    Unrealized foreign exchange loss(3)           (1 ) (1 )     (1 )
    Earnings (loss) before income taxes 74   30   72   3   37   (122 ) 94       94  
    1. The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment.
    2. Adjusted EBITDA, adjusted earnings (loss) before income taxes are non-IFRS measures, are not defined, have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Refer to the Additional Non-IFRS and Supplementary Financial Measures section of this earnings release.
    3. During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods.

    The following table reflects adjusted EBITDA and adjusted earnings (loss) before income taxes by segment and provides reconciliation to earnings (loss) before income taxes for the six months ended June 30, 2025:

      Hydro Wind &
    Solar(1)
    Gas Energy
    Transition
    Energy
    Marketing
    Corporate Total Equity-
    accounted
    investments(1)
    Reclass
    adjustments
    IFRS
    financials
    Revenues 215   166   594   227   65   (66 ) 1,201   (10 )   1,191  
    Reclassifications and adjustments:                  
    Unrealized mark-to-market (gain) loss (3 ) 104   39   14   (1 )   153     (153 )  
    Decrease in finance lease receivable   1   14         15     (15 )  
    Finance lease income   3   8         11     (11 )  
    Revenues from Planned Divestitures     (7 )       (7 )   7    
    Unrealized foreign exchange gain on commodity         (2 )   (2 )   2    
    Adjusted revenue 212   274   648   241   62   (66 ) 1,371   (10 ) (170 ) 1,191  
    Fuel and purchased power 11   19   269   149     2   450       450  
    Reclassifications and adjustments:                  
    Fuel and purchased power related to Planned Divestitures     (3 )       (3 )   3    
    Adjusted fuel and purchased power 11   19   266   149     2   447     3   450  
    Carbon compliance costs (recovery)   2   41       (68 ) (25 )     (25 )
    Adjusted gross margin 201   253   341   92   62     949   (10 ) (173 ) 766  
    OM&A 26   54   124   35   15   94   348   (2 )   346  
    Reclassifications and adjustments:                  
    OM&A related to Planned Divestitures     (3 )       (3 )   3    
    ERP integration costs           (10 ) (10 )   10    
    Acquisition-related transaction and restructuring costs           (5 ) (5 )   5    
    Adjusted OM&A 26   54   121   35   15   79   330   (2 ) 18   346  
    Taxes, other than income taxes 2   10   10   1     1   24       24  
    Net other operating income   (4 ) (22 )       (26 )     (26 )
    Reclassifications and adjustments:                  
    Insurance recovery   2           2     (2 )  
    Adjusted net other operating income   (2 ) (22 )       (24 )   (2 ) (26 )
    Adjusted EBITDA(2) 173   191   232   56   47   (80 ) 619        
    Depreciation and amortization (17 ) (105 ) (138 ) (28 ) (2 ) (9 ) (299 ) 3     (296 )
    Equity income           (1 ) (1 )   4   3  
    Interest income           12   12   (1 )   11  
    Interest expense           (183 ) (183 ) 2     (181 )
    Realized foreign exchange gain           2   2       2  
    Adjusted earnings (loss) before income taxes(2) 156   86   94   28   45   (259 ) 150        
    Reclassifications and adjustments above 3   (106 ) (60 ) (14 ) 3   (15 ) (189 )      
    Finance lease income   3   8         11       11  
    Skookumchuk earnings reclass to Equity income(1)   (4 )       4          
    Fair value change in contingent consideration payable     34         34       34  
    Asset impairment (charges) reversals     (34 ) 13     (7 ) (28 )     (28 )
    Loss on sale of assets and other           (1 ) (1 )     (1 )
    Unrealized foreign exchange loss           (23 ) (23 )     (23 )
    Earnings (loss) before income taxes 159   (21 ) 42   27   48   (301 ) (46 )     (46 )
    1. The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment.
    2. Adjusted EBITDA, adjusted earnings (loss) before income taxes are non-IFRS measures, are not defined, have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Refer to the Additional Non-IFRS and Supplementary Financial Measures section of this earnings release.

    The following table reflects adjusted EBITDA and adjusted earnings (loss) before income taxes by segment and provides reconciliation to earnings (loss) before income taxes for the six months ended June 30, 2024:

      Hydro Wind &
    Solar(1)
    Gas Energy
    Transition
    Energy
    Marketing
    Corporate Total Equity-
    accounted
    investments(1)
    Reclass
    adjustments
    IFRS
    financials
    Revenues 211   251   717   296   99   (34 ) 1,540   (11 )   1,529  
    Reclassifications and adjustments:                  
    Unrealized mark-to-market (gain) loss (4 ) (13 ) (81 ) (20 ) (2 )   (120 )   120    
    Decrease in finance lease receivable   1   9         10     (10 )  
    Finance lease income   3   3         6     (6 )  
    Unrealized foreign exchange gain on commodity     (2 )       (2 )   2    
    Adjusted revenue 207   242   646   276   97   (34 ) 1,434   (11 ) 106   1,529  
    Fuel and purchased power 9   17   239   212       477       477  
    Carbon compliance costs (recovery)     66       (34 ) 32       32  
    Adjusted gross margin 198   225   341   64   97     925   (11 ) 106   1,020  
    OM&A 26   44   88   33   19   70   280   (2 )   278  
    Reclassifications and adjustments:                  
    Acquisition-related transaction and restructuring costs           (7 ) (7 )   7    
    Adjusted OM&A 26   44   88   33   19   63   273   (2 ) 7   278  
    Taxes, other than income taxes 2   8   6   2       18   (1 )   17  
    Net other operating income   (4 ) (20 )       (24 )     (24 )
    Adjusted EBITDA(2)(3) 170   177   267   29   78   (63 ) 658        
    Depreciation and amortization (15 ) (90 ) (111 ) (31 ) (2 ) (9 ) (258 ) 3     (255 )
    Equity income           (1 ) (1 )   5   4  
    Interest income           15   15       15  
    Interest expense           (149 ) (149 )     (149 )
    Realized foreign exchange loss(4)           (9 ) (9 )     (9 )
    Adjusted earnings (loss) before income taxes(2) 155   87   156   (2 ) 76   (216 ) 256        
    Reclassifications and adjustments above 4   9   71   20   2   (7 ) 99        
    Finance lease income   3   3         6       6  
    Skookumchuk earnings reclass to Equity income(1)   (5 )       5          
    Asset impairment (charges) reversals   (5 )   4     (5 ) (6 )     (6 )
    Gain on sale of assets and other(4)       1     2   3       3  
    Unrealized foreign exchange gain(4)           3   3       3  
    Earnings (loss) before income taxes 159   89   230   23   78   (218 ) 361       361  
    1. The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment.
    2. Adjusted EBITDA, adjusted earnings (loss) before income taxes are non-IFRS measures, are not defined, have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Refer to the Additional Non-IFRS and Supplementary Financial Measures section of this earnings release.
    3. During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods.

    Reconciliation of Earnings Before Income Taxes to Adjusted Net Earnings attributable to common shareholders

    The following table reflects reconciliation of (loss) earnings before income taxes to adjusted net earnings attributable to common shareholders for the three and six months ended June 30, 2025 and June 30, 2024:

      Three months ended
    June 30
    Six months ended
    June 30
      2025   2024   2025   2024  
    (Loss) earnings before income taxes (95 ) 94   (46 ) 361  
    Income tax expense 11   28   18   57  
    Net (loss) earnings (106 ) 66   (64 ) 304  
    Net (loss) earnings attributable to non-controlling interests (7 ) (3 ) (11 ) 13  
    Preferred share dividends 13   13   13   13  
    Net (loss) earnings attributable to common shareholders (112 ) 56   (66 ) 278  
    Adjustments and reclassifications (pre-tax):        
    Adjustments and reclassifications to Revenues 177   14   170   (106 )
    Adjustments and reclassifications to Fuel and purchased power 1     3    
    Adjustments and reclassifications to OM&A 8   4   18   7  
    Adjustments and reclassifications to Net other operating income     (2 )  
    Fair value change in contingent consideration payable (gain)     (34 )  
    Finance lease income (5 ) (4 ) (11 ) (6 )
    Asset impairment charges 13   5   28   6  
    Loss (gain) on sale of assets and other   (1 ) 1   (3 )
    Unrealized foreign exchange loss (gain)(1) 23     23   (3 )
    Calculated tax (expense) recovery on adjustments and reclassifications(2) (51 ) (4 ) (46 ) 24  
    Adjusted net earnings attributable to common shareholders(3) 54   70   84   197  
    Weighted average number of common shares outstanding in the period 297   303   297   306  
    Net (loss) income per common share attributable to common shareholders (0.38 ) 0.18   (0.22 ) 0.91  
    Adjustments and reclassifications (net of tax) 0.56   0.05   0.50   (0.26 )
    Adjusted net earnings per common share attributable to common shareholders(3) 0.18   0.23   0.28   0.64  
    1. Unrealized foreign exchange (loss) gain is a supplementary financial measure. Refer to the Additional Non-IFRS and Supplementary Financial Measures section of this MD&A for more details.
    2. Represents a theoretical tax calculated by applying the Company’s consolidated effective tax rate of 23.3 per cent for the three and six months ended June 30, 2025 (three and six months ended June 30, 2024 — 23.3 per cent). The amount does not take into account the impact of different tax jurisdictions the Company’s operations are domiciled and does not include the impact of deferred taxes.
    3. Adjusted net earnings attributable to common shareholders and Adjusted net earnings per common share attributable to common shareholders are non-IFRS measures, are not defined, have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. The most directly comparable IFRS measures are net earnings attributable to common shareholders and net earnings per share attributable to common shareholders, basic and diluted. Refer to the Non-IFRS financial measures section in this earnings release for more details.

    Reconciliation of cash flow from operations to FFO and FCF

    The table below reconciles our cash flow from operating activities to our FFO and FCF:

      Three months ended
    June 30
    Six months ended
    June 30
      2025   2024   2025   2024  
    Cash flow from operating activities(1) 157   108   164   352  
    Change in non-cash operating working capital balances 81   114   198   107  
    Cash flow from operations before changes in working capital 238   222   362   459  
    Adjustments        
    Share of adjusted FFO from joint venture(1) 1   2   3   4  
    Decrease in finance lease receivable 7   5   15   10  
    Clean energy transition provisions and adjustments   2     2  
    Brazeau penalties payment     33    
    Acquisition-related transaction and restructuring costs 2   4   8   7  
    Other(2) 4   1   10   8  
    FFO(3) 252   236   431   490  
    Deduct:        
    Sustaining capital expenditures(1) (57 ) (40 ) (80 ) (40 )
    Dividends paid on preferred shares (13 ) (13 ) (26 ) (26 )
    Distributions paid to subsidiaries’ non-controlling interests (2 ) (5 ) (2 ) (24 )
    Principal payments on lease liabilities   (1 ) (1 ) (2 )
    Other (3 )   (6 )  
    FCF(3) 177   177   316   398  
    Weighted average number of common shares outstanding in the period 297   303   297   306  
    Cash flow from operating activities per share 0.53   0.36   0.55   1.15  
    FFO per share(3) 0.85   0.78   1.45   1.60  
    FCF per share(3) 0.60   0.58   1.06   1.30  
    1. Includes our share of amounts for the Skookumchuck wind facility, an equity-accounted joint venture.
    2. Other consists of production tax credits, which is a reduction to tax equity debt, less distributions from an equity-accounted joint venture.
    3. These items are not defined and have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods. Refer to the Non-IFRS financial measures and other specified financial measures section in this earnings release.

    The table below provides a reconciliation of our adjusted EBITDA to our FFO and FCF:

      Three months ended
    June 30
    Six months ended
    June 30
    $ millions, unless otherwise stated 2025   2024   2025   2024  
    Adjusted EBITDA(1)(5) 349   316   619   658  
    Provisions (2 ) 6   6   6  
    Net interest expense(2) (66 ) (57 ) (138 ) (105 )
    Current income tax expense (46 ) (33 ) (59 ) (60 )
    Realized foreign exchange gain (loss)(3) 4   (1 ) 2   (9 )
    Decommissioning and restoration costs settled (11 ) (12 ) (20 ) (19 )
    Other non-cash items 24   17   21   19  
    FFO(4)(5) 252   236   431   490  
    Deduct:        
    Sustaining capital expenditures(3)(5) (57 ) (40 ) (80 ) (40 )
    Dividends paid on preferred shares (13 ) (13 ) (26 ) (26 )
    Distributions paid to subsidiaries’ non-controlling interests (2 ) (5 ) (2 ) (24 )
    Principal payments on lease liabilities   (1 ) (1 ) (2 )
    Other (3 )   (6 )  
    FCF(4)(5) 177   177   316   398  
    1. Adjusted EBITDA is defined in the Additional IFRS Measures and Non-IFRS Measures of this earnings release and reconciled to earnings (loss) before income taxes above. During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods.
    2. Net interest expense is a non-IFRS measure, is not defined and has no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Refer to the table below for detailed calculation.
    3. Supplementary financial measure. Refer to the Additional Non-IFRS and Supplementary Financial Measures section of this earnings release.
    4. These items are not defined and have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. FFO and FCF are defined in the Non-IFRS financial measures and other specified financial measures section in this earnings release and reconciled to cash flow from operating activities above.
    5. Includes our share of amounts for Skookumchuck wind facility, an equity-accounted joint venture.

    Net interest expense in the reconciliation of our adjusted EBITDA to our FFO and FCF is calculated as follows:

      Three months ended
    June 30
    Six months ended
    June 30
      2025   2024   2025   2024  
    Interest expense 88   80   181   149  
    Less: Interest Income (6 ) (8 ) (11 ) (15 )
    Less: non-cash items(1) (16 ) (15 ) (32 ) (29 )
    Net Interest Expense 66   57   138   105  
    1. Non-cash items include accretion of provisions, financing cost amortization and other non-cash items.

    TransAlta is in the process of filing its unaudited interim Consolidated Financial Statements and accompanying notes, as well as the associated Management’s Discussion & Analysis (MD&A). These documents will be available today on the Investors section of TransAlta’s website at www.transalta.com or through SEDAR at www.sedarplus.ca.

    About TransAlta Corporation:

    TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers with affordable, energy efficient and reliable power. Today, TransAlta is one of Canada’s largest producers of wind power and Alberta’s largest producer of thermal generation and hydro-electric power. For over 114 years, TransAlta has been a responsible operator and a proud member of the communities where we operate and where our employees work and live. TransAlta aligns its corporate goals with the UN Sustainable Development Goals and the Future-Fit Business Benchmark, which also defines sustainable goals for businesses. Our reporting on climate change management has been guided by the International Financial Reporting Standards (IFRS) S2 Climate-related Disclosures Standard and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. TransAlta has achieved a 70 per cent reduction in GHG emissions or 22.7 million tonnes CO2e since 2015 and received an upgraded MSCI ESG rating of AA.

    For more information about TransAlta, visit our web site at transalta.com.

    Cautionary Statement Regarding Forward-Looking Information

    This news release includes “forward-looking information,” within the meaning of applicable Canadian securities laws, and “forward-looking statements,” within the meaning of applicable United States securities laws, including the Private Securities Litigation Reform Act of 1995 (collectively referred to herein as “forward-looking statements”). Forward-looking statements are not facts, but only predictions and generally can be identified by the use of statements that include phrases such as “may”, “will”, “can”, “could”, “would”, “shall”, “believe”, “expect”, “estimate”, “anticipate”, “intend”, “plan”, “forecast”, “foresee”, “potential”, “enable”, “continue” or other comparable terminology. These statements are not guarantees of our future performance, events or results and are subject to risks, uncertainties and other important factors that could cause our actual performance, events or results to be materially different from those set out in or implied by the forward-looking statements. In particular, this news release contains forward-looking statements about the following, among other things: the strategic objectives of the Company and that the execution of the Company’s strategy will realize value for shareholders; our capital allocation and financing strategy; our sustainability goals and targets, including those in our 2024 Sustainability Report; our 2025 Outlook; our financial and operational performance, including our hedge position; optimizing and diversifying our existing assets; the increasingly contracted nature of our fleet; expectations about strategies for growth and expansion; data centre opportunities, including the AESO’s expectation around the timing of execution of Demand Transmission Service contracts and entering into a data centre memorandum of understanding; opportunities for Centralia redevelopment, including the execution of a definitive agreement with our customer for the full capacity of Centralia Unit 2; expectations regarding ongoing and future transactions, including the sale of Poplar Hill; expected costs and schedules for planned projects; expected regulatory processes and outcomes, including in relation to the Alberta restructured energy market; the completion and closing of acquisition and divestiture transactions which are subject to customary closing terms and conditions, the power generation industry and the supply and demand of electricity; the cyclicality of our business; expected outcomes with respect to legal proceedings; the expected impact of future tax and accounting changes; and expected industry, market and economic conditions.

    The forward-looking statements contained in this news release are based on many assumptions including, but not limited to, the following: no significant changes to applicable laws and regulations; no unexpected delays in obtaining required regulatory approvals; no material adverse impacts to investment and credit markets; no significant changes to power price and hedging assumptions; no significant changes to gas commodity price assumptions and transport costs; no significant changes to interest rates; no significant changes to the demand and growth of renewables generation; no significant changes to the integrity and reliability of our facilities; no significant changes to the Company’s debt and credit ratings; no unforeseen changes to economic and market conditions; no significant event occurring outside the ordinary course of business; and realization of expected impacts from ongoing and future transactions.

    These assumptions are based on information currently available to TransAlta, including information obtained from third-party sources. Actual results may differ materially from those predicted. Factors that may adversely impact what is expressed or implied by forward-looking statements contained in this news release include, but are not limited to: fluctuations in power prices; changes in supply and demand for electricity; our ability to contract our electricity generation for prices that will provide expected returns; our ability to replace contracts as they expire; risks associated with development projects and acquisitions; failure to complete divestitures on the terms and conditions specified or at all; any difficulty raising needed capital in the future on reasonable terms or at all; our ability to achieve our targets relating to ESG; long-term commitments on gas transportation capacity that may not be fully utilized over time; changes to the legislative, regulatory and political environments; environmental requirements and changes in, or liabilities under, these requirements; operational risks involving our facilities, including unplanned outages and equipment failure; disruptions in the transmission and distribution of electricity; reductions in production; impairments and/or writedowns of assets; adverse impacts on our information technology systems and our internal control systems, including increased cybersecurity threats; commodity risk management and energy trading risks; reduced labour availability and ability to continue to staff our operations and facilities; disruptions to our supply chains; climate-change related risks; reductions to our generating units’ relative efficiency or capacity factors; general economic risks, including deterioration of equity and debt markets, increasing interest rates or rising inflation; general domestic and international economic and political developments, including potential trade tariffs; industry risk and competition; counterparty credit risk; inadequacy or unavailability of insurance coverage; increases in the Company’s income taxes and any risk of reassessments; legal, regulatory and contractual disputes and proceedings involving the Company; reliance on key personnel; and labour relations matters.

    The foregoing risk factors, among others, are described in further detail under the heading “Governance and Risk Management” in the MD&A, which section is incorporated by reference herein.

    Readers are urged to consider these factors carefully when evaluating the forward-looking statements and are cautioned not to place undue reliance on them. The forward-looking statements included in this news release are made only as of the date hereof and we do not undertake to publicly update these forward-looking statements to reflect new information, future events or otherwise, except as required by applicable laws. The purpose of the financial outlooks contained herein is to give the reader information about management’s current expectations and plans and readers are cautioned that such information may not be appropriate for other purposes.

    Note: All financial figures are in Canadian dollars unless otherwise indicated.

    For more information:

    Investor Inquiries: Media Inquiries:
    Phone: 1-800-387-3598 in Canada and U.S. Phone: 1-855-255-9184
    Email: investor_relations@transalta.com Email: ta_media_relations@transalta.com

    The MIL Network

  • MIL-OSI Russia: China clarifies rules for tax breaks on reinvested dividends for foreign investors

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, Aug. 1 (Xinhua) — China’s General Administration of Taxation (GATT) has released detailed rules for foreign investors to claim tax breaks on reinvested dividends, providing operational guidance on the preferential tax treatment under the newly unveiled policy measures.

    In June this year, the Ministry of Finance, the State Tax Administration and the Ministry of Commerce of the People’s Republic of China announced that they would provide foreign investors with a 10 percent corporate income tax rebate on direct domestic investment financed by dividends from profits of enterprises resident in the People’s Republic of China.

    The benefit, which will be in effect from January 1, 2025, to December 31, 2028, will allow unused tax credits to be carried forward to a later date and allow lower rates to be applied under applicable tax treaties.

    According to a notice issued by the State Tax Service on Thursday, profits used to make additional contributions to subscribed authorized capital or to increase paid-in capital or capital reserves qualify as reinvestment.

    The agency’s notice also explains the scope of this tax incentive, including the definition of the time period for reinvestment, the method for calculating the tax credit amount, and the procedures for foreign investors to receive tax incentives.

    Notably, China offers tax incentives to encourage overseas investment. In 2024, the preferential policy of temporarily exempting foreign investors from paying taxes on certain types of profits led to a rapid increase in foreign reinvestment in China, according to previously published data from the State Tax Inspectorate of China. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News

  • MIL-OSI United Kingdom: Shoreditch becomes new al fresco dining hotspot thanks to Mayor of London’s new Summer Streets scheme

    Source: Mayor of London

    • Redchurch Street and Rivington Street in Shoreditch host weekend al fresco dining thanks to funding from the Mayor
    • Sadiq’s Summer Streets Fund is helping four boroughs to create al fresco dining and drinking hotspots across the capital, ahead of further action to boost London’s nightlife
    • Deputy Mayor for Business, Howard Dawber OBE, visits local businesses who are benefitting from the new Summer Streets scheme

    For the first time ever, independent bars and restaurants on Rivington Street and Redchurch Street in Shoreditch will be offering al fresco dining and drinking, thanks to funding from the Mayor of London, Sadiq Khan.

    Londoners and visitors will be able to enjoy outside dinner and drinks every Friday and Saturday from tonight until the end of the year, with the roads closed to traffic from 6pm to midnight.

    The new outdoor eating and drinking area in Hackney is one of four new schemes that the Mayor is funding across the capital through his £300,000 Summer Streets Fund. The funding is part of Sadiq’s commitment to increase outdoor dining and extend opening hours to offer more choice to Londoners and help support businesses. This is ahead of the

    Mayor being granted new licensing powers from the Government to help boost the capital’s nightlife.

    In Shoreditch, a wide range of businesses are taking part in the new al fresco dining. Londoners and visitors can enjoy a variety of cuisines from around the world from:

    Other sites being supported by the Mayor’s Summer Streets Fund include schemes across Lambeth, Waltham Forest and Westminster. In Leyton, Francis Road is extending car free hours, with outdoor dining in Leyton Midland Road. In Brixton, there are more car free days on Atlantic Road and “Brixton Summer Zone”, with outdoor seating and live performances to be officially launched later this month. Soon bars and restaurants on St Martin’s Lane in the heart of the West End will also be able to provide open air dining and drinking.

    Creating new al fresco dining spots is one of many initiatives by the Mayor to support London’s hospitality, leisure and tourism sectors. For example, he has also created an independent Nightlife Taskforce to help boost the capital’s life at night. These industries are critical to the success of the capital, as well as growth nationally, generating more than £46 billion every year* and accounting for one in 10 jobs in London. In the last year, the number of late-night hospitality sites in London has grown faster than anywhere else in the country.

    The Mayor of London, Sadiq Khan, said: “I’m delighted to be able to support bars and restaurants in Shoreditch to offer al fresco dining from today. Through my Summer Streets Fund we are helping to put outdoor dining back on the menu, supporting businesses and helping Londoners and visitors to make the most of the summer. I’m determined to do all I can to support London’s fantastic restaurants, cafes and bars, and these schemes are just the beginning of what’s to come as we continue to work with partners across the capital to revitalise our nightlife and build a better London for everyone.”

    Howard Dawber OBE, Deputy Mayor for Business, said: “The Mayor’s Summer Streets Fund was designed to empower local businesses, stimulate enterprise and provide exciting opportunities for Londoners and visitors. It’s just one of the ways we are helping to boost London’s night time economy, and it’s great to see this new scheme bringing outdoor dining to Shoreditch tonight.”

    Cllr Susan Fajana-Thomas, Hackney Council’s Cabinet Member for Community Safety and Regulatory Services, said: “We are thrilled that Hackney has been chosen by the Mayor of London to participate in the Summer Streets al fresco dining scheme, which I believe will significantly boost our world-renowned nightlife. By pedestrianising Rivington Street and Redchurch Street on Friday and Saturday nights, we can offer more space for residents and visitors, in particular families, to enjoy some of the fantastic venues and food Shoreditch has to offer, with increased outdoor seating. I am excited to support this scheme as I believe it will be great for businesses and residents.”

    MIL OSI United Kingdom

  • MIL-OSI: ETH Contract Participation Model for 2025 Announced by HashJ to Tap Market Opportunities

    Source: GlobeNewswire (MIL-OSI)

    London, United Kingdom, Aug. 01, 2025 (GLOBE NEWSWIRE) — MGPD Finance Limited, doing business as HashJ, today announced the introduction of its updated ETH contract participation model, developed to support broader engagement in Ethereum-linked income opportunities. This move comes as Ethereum (ETH) continues to hold its place as a foundational asset within the Web3 ecosystem, even as its mainnet fully transitions from Proof-of-Work (PoW) to Proof-of-Stake (PoS) following the 2022 “Merge.”

    Despite this shift, ETH-related contract activity remains strong across derivative networks and GPU-compatible platforms. HashJ’s 2025 model aims to simplify access to these evolving opportunities for individual users by lowering technical barriers and offering transparent participation structures.

    Ethereum Market Weekly Overview: Layer-2 Networks and On-Chain Activity Gain Ground

    During the fourth week of July 2025, ETH held steady around $3,790, while on-chain activity remained robust. Metrics such as active wallet addresses and decentralized application (DApp) usage saw steady growth. According to data from L2Beat, the total value locked (TVL) in Layer-2 networks like Arbitrum, Optimism, and Base reached new peaks, reinforcing Ethereum’s position as a leader in blockchain fee revenue.
    In parallel, Ethereum continues to attract diverse projects, including artificial intelligence (AI) protocols, decentralized proof-of-stake (DPoS) systems, and tokenized real-world asset (RWA) platforms—further cementing its status as the dominant smart contract infrastructure.

    Current Landscape of ETH-Related Contracts

    Although Ethereum’s mainnet no longer supports traditional PoW-based contracts, derivative chains such as EthereumPoW (ETHW), Ethereum Classic (ETC), and other EVM-compatible PoW ecosystems continue to offer contract-based participation. These networks maintain close market correlation with ETH, creating an alternate avenue for users to engage in ETH-linked strategies.
    Key approaches include:

    • Participating in contracts tied to ETHW or ETC and later converting proceeds into ETH;
    • Utilizing platforms such as HashJ to access GPU resources and schedule contract-based operations across ETH-aligned networks;
    • Diversifying income strategies via ETH staking, DeFi protocols, and eligible airdrop campaigns.

    HashJ’s New Model: Accessible Participation in ETH-Linked Contracts

    HashJ’s latest platform features are focused on enhancing user participation in ETH-related rewards with low entry barriers and simplified processes. This includes:

    • Access to GPU resource scheduling and allocation across ETH-relevant derivative ecosystems;
    • Intelligent task distribution to support optimized contract outcomes;
    • Transparent performance monitoring via a mobile application and user dashboard;
    • Automated revenue settlement with unrestricted asset withdrawals.

    New users can access a welcome package valued at $118, comprising $100 in contract trial credits and $18 in platform cash. No specialized hardware or infrastructure setup is required, and users can manage their participation via visual interfaces designed for ease of use.

    Continued Relevance of ETH-Linked Contracts

    Despite the discontinuation of PoW contracts on the Ethereum mainnet, ETH continues to command broad investor interest. ETH-based contracts and derivative tokens present various benefits:

    • Closely mirrored price movements from tokens like ETHW and ETC allow for ETH-aligned exposure;
    • Flexible use of contracts as a means to hedge risk or manage portfolio allocation;
    • Simplified entry via platforms like HashJ reduces reliance on traditional hardware setups or data center integration.

    For everyday users, these tools offer a practical and efficient alternative to more complex technical methods of participating in ETH-related returns.

    Conclusion

    As Ethereum maintains its leading role in decentralized infrastructure, new models of participation are emerging to reflect evolving network dynamics. HashJ’s ETH contract access framework presents a simplified and scalable method for engaging with ETH-linked opportunities.

    For those looking to participate in Ethereum’s evolving contract landscape without encountering technical or operational hurdles, HashJ’s model offers a structured and user-friendly entry point. New users receive a $118 gift package upon registration (including $100 contract trial credit and $18 cash).

    About MGPD Finance Limited (HashJ)

    MGPD Finance Limited, doing business as HashJ, is a fintech company based in the United Kingdom. Founded in 2018, the company provides contract-based digital reward systems for BTC, ETH, DOGE, and XRP, with over 2 million users across more than 90 countries.

    For more information, visit: www.hashj.com
    App Download: Available on iOS and Android
    Business Inquiries: pr@hashj.com

    The MIL Network

  • MIL-OSI: ETH Contract Participation Model for 2025 Announced by HashJ to Tap Market Opportunities

    Source: GlobeNewswire (MIL-OSI)

    London, United Kingdom, Aug. 01, 2025 (GLOBE NEWSWIRE) — MGPD Finance Limited, doing business as HashJ, today announced the introduction of its updated ETH contract participation model, developed to support broader engagement in Ethereum-linked income opportunities. This move comes as Ethereum (ETH) continues to hold its place as a foundational asset within the Web3 ecosystem, even as its mainnet fully transitions from Proof-of-Work (PoW) to Proof-of-Stake (PoS) following the 2022 “Merge.”

    Despite this shift, ETH-related contract activity remains strong across derivative networks and GPU-compatible platforms. HashJ’s 2025 model aims to simplify access to these evolving opportunities for individual users by lowering technical barriers and offering transparent participation structures.

    Ethereum Market Weekly Overview: Layer-2 Networks and On-Chain Activity Gain Ground

    During the fourth week of July 2025, ETH held steady around $3,790, while on-chain activity remained robust. Metrics such as active wallet addresses and decentralized application (DApp) usage saw steady growth. According to data from L2Beat, the total value locked (TVL) in Layer-2 networks like Arbitrum, Optimism, and Base reached new peaks, reinforcing Ethereum’s position as a leader in blockchain fee revenue.
    In parallel, Ethereum continues to attract diverse projects, including artificial intelligence (AI) protocols, decentralized proof-of-stake (DPoS) systems, and tokenized real-world asset (RWA) platforms—further cementing its status as the dominant smart contract infrastructure.

    Current Landscape of ETH-Related Contracts

    Although Ethereum’s mainnet no longer supports traditional PoW-based contracts, derivative chains such as EthereumPoW (ETHW), Ethereum Classic (ETC), and other EVM-compatible PoW ecosystems continue to offer contract-based participation. These networks maintain close market correlation with ETH, creating an alternate avenue for users to engage in ETH-linked strategies.
    Key approaches include:

    • Participating in contracts tied to ETHW or ETC and later converting proceeds into ETH;
    • Utilizing platforms such as HashJ to access GPU resources and schedule contract-based operations across ETH-aligned networks;
    • Diversifying income strategies via ETH staking, DeFi protocols, and eligible airdrop campaigns.

    HashJ’s New Model: Accessible Participation in ETH-Linked Contracts

    HashJ’s latest platform features are focused on enhancing user participation in ETH-related rewards with low entry barriers and simplified processes. This includes:

    • Access to GPU resource scheduling and allocation across ETH-relevant derivative ecosystems;
    • Intelligent task distribution to support optimized contract outcomes;
    • Transparent performance monitoring via a mobile application and user dashboard;
    • Automated revenue settlement with unrestricted asset withdrawals.

    New users can access a welcome package valued at $118, comprising $100 in contract trial credits and $18 in platform cash. No specialized hardware or infrastructure setup is required, and users can manage their participation via visual interfaces designed for ease of use.

    Continued Relevance of ETH-Linked Contracts

    Despite the discontinuation of PoW contracts on the Ethereum mainnet, ETH continues to command broad investor interest. ETH-based contracts and derivative tokens present various benefits:

    • Closely mirrored price movements from tokens like ETHW and ETC allow for ETH-aligned exposure;
    • Flexible use of contracts as a means to hedge risk or manage portfolio allocation;
    • Simplified entry via platforms like HashJ reduces reliance on traditional hardware setups or data center integration.

    For everyday users, these tools offer a practical and efficient alternative to more complex technical methods of participating in ETH-related returns.

    Conclusion

    As Ethereum maintains its leading role in decentralized infrastructure, new models of participation are emerging to reflect evolving network dynamics. HashJ’s ETH contract access framework presents a simplified and scalable method for engaging with ETH-linked opportunities.

    For those looking to participate in Ethereum’s evolving contract landscape without encountering technical or operational hurdles, HashJ’s model offers a structured and user-friendly entry point. New users receive a $118 gift package upon registration (including $100 contract trial credit and $18 cash).

    About MGPD Finance Limited (HashJ)

    MGPD Finance Limited, doing business as HashJ, is a fintech company based in the United Kingdom. Founded in 2018, the company provides contract-based digital reward systems for BTC, ETH, DOGE, and XRP, with over 2 million users across more than 90 countries.

    For more information, visit: www.hashj.com
    App Download: Available on iOS and Android
    Business Inquiries: pr@hashj.com

    The MIL Network

  • India-US partnership has endured transitions and challenges: MEA

    Source: Government of India

    Source: Government of India (4)

    India and the United States share a comprehensive global strategic partnership rooted in shared interests, democratic values, and strong people-to-people ties, a relationship that has withstood various transitions and challenges over time, the Ministry of External Affairs (MEA) said on Friday.

    “India and the United States share a comprehensive global strategic partnership anchored in shared interests, democratic values, and robust people-to-people ties. This partnership has weathered several transitions and challenges. We remain focused on the substantive agenda that both countries have committed to and are confident that the relationship will continue to move forward,” MEA spokesperson Randhir Jaiswal stated during a weekly media briefing in New Delhi. His remarks came in response to a question on India-US ties following Washington’s recent tariff announcement.

    Earlier this week, US President Donald Trump announced the imposition of 25 per cent reciprocal tariffs on Indian goods, along with an unspecified penalty over India’s purchases of Russian energy, effective from August 1.

    “India will be paying a tariff of 25 per cent,” Trump posted on his social media platform, Truth Social.

    He also warned of an additional tariff penalty on India for its continued energy trade with Russia. Trump had earlier declared that all countries purchasing Russian energy would face secondary tariffs of up to 100 per cent if Moscow failed to agree to a ceasefire in Ukraine.

    Initially, the threat to India was perceived by experts as a negotiating tactic aimed at expediting a trade agreement. Both Trump and Commerce Secretary Howard Lutnick had recently indicated optimism about reaching a deal with India, describing it as one of the first countries likely to finalize an agreement.

     

    –IANS

  • MIL-OSI USA: Welch Calls for Vote on Bipartisan CANADA Act Ahead of Trump’s  August 1 Tariff Deadline 

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)

    CANADA Act would exempt U.S.-owned small businesses from tariffs imposed on Canada 
    WASHINGTON, D.C. – U.S. Senator Peter Welch (D-Vt.), a member of the Senate Finance Committee, this week pushed for a vote on his bipartisan Creating Access to Necessary American-Canadian Duty Adjustments (CANADA) Act, legislation to exempt United States-owned small businesses from tariffs imposed on Canada. Senate Republicans blocked the unanimous consent request and refused to support small businesses in their states.  
    Senator Welch took to the Senate Floor to slam the Trump Administration’s plan to increase tariffs and enact new sweeping global tariffs on August 1. Senator Welch also spoke in support of his bipartisan bill, the CANADA Act: 
    “This trade war is yet another example of the Trump Administration’s chaos, cruelty, and corruption: Chaos for Vermont’s small businesses, farmers, and manufacturers who don’t know what to expect day-to-day; Cruelty for America’s working families, who will pay more because of this reckless trade policy; and Corruption by President Trump himself, who has created an access economy focused on self-dealing,” said Senator Welch in his remarks. “I urge my colleagues on both sides of the aisle to support the CANADA Act, and in-turn support small businesses in their state.” 
    Watch Senator Welch’s floor remarks here: 

    The CANADA Act is led by Senator Welch and cosponsored by Senate Democratic Leader Chuck Schumer (D-N.Y.) and Senators Jeanne Shaheen (D-N.H.), Lisa Murkowski (R-Alaska), Tim Kaine (D-Va.), Susan Collins (R-Maine), Ed Markey (D-Mass.), and Ron Wyden (D-Ore.). The CANADA Act is supported by Main Street Alliance and Small Business Majority. 
    In 2024 alone, trade with Canada accounted for 35% of Vermont’s exports, 67% of its imports, and 56% of its total trade. One in four businesses in Vermont relies on trade with Canada. Vermont buys more goods from Canada than the next nine largest foreign markets combined. In 2023, Vermont exported $150 million just in food and agricultural products to Canada.  
    Vermont boasts nearly 82,000 small businesses, which represent 99% of all businesses in the state, and employ over 62% of Vermont’s overall workforce—higher than the national average. Small businesses in Vermont also employ a diverse workforce, with 43.8% of small businesses in the state owned by women and 6% owned by veterans. 
    Senator Welch has blasted Trump’s tariffs and trade war and shared stories from constituents about how President Trump’s economic policies have impacted their businesses, farms, and communities. Senator Welch is a cosponsor of a bipartisan resolution to repeal the tariffs on Canada, a bipartisan bill to restore congressional tariff authority, a bill to restrict the Executive Branch’s authority to impose tariffs through the International Economic Emergency Powers Act, and a bill to exempt small businesses from the April 2nd global tariff Executive Order. Senator Welch also led a bipartisan resolution to end President Trump’s ruinous global tariffs.      
    In May, Senator Welch joined a bipartisan delegation and traveled to Ottawa to meet with Canadian dignitaries, including Prime Minister Mark Carney, to discuss bipartisan support for a U.S.-Canada partnership and their commitment to a strong trading relationship between the United States and Canada. The Senator has hosted roundtables in Stowe, Newport, St. Albans, Manchester, and virtually to hear concerns and first-hand stories from Vermont and Canadian leaders impacted by the trade war. 

    MIL OSI USA News

  • MIL-OSI Europe: More online travel agencies commit to refund cancelled flights within 14 days

    Source: European Union 2

    Expedia and Lastminute.com are the latest online travel agencies to commit to refund tickets within 14 days for a cancelled flight. They join three other online travel agencies which committed to the same, following talks with the European Commission and Consumer Protection Cooperation network.

    MIL OSI Europe News

  • MIL-OSI United Kingdom: Five companies shut down for filing false and forged accounts

    Source: United Kingdom – Executive Government & Departments

    Press release

    Five companies shut down for filing false and forged accounts

    Companies falsely claimed to have hundreds of millions of pounds in turnover and profits

    • Automarket Europe Limited, Integra Group Limited, Maxell Limited, Montana & Montana Limited, and Supermarket Plus Ltd filed false accounts showing turnovers of up to £642 million despite having no genuine business activity 

    • All five companies shared office addresses in South London and Croydon. They also falsely named reputable accountants as auditors, and failed to co-operate with Insolvency Service investigations before being shut down 

    • The companies were investigated by the Insolvency Service as a result of referrals from Companies House following legislation to improve corporate standards 

    Five companies which submitted false accounts showing hundreds of millions of pounds of profits have been shut down following investigations by the Insolvency Service and Companies House. 

    Automarket Europe Limited, Integra Group Limited, Maxell Limited, Montana & Montana Limited, and Supermarket Plus Ltd claimed to trade as everything from supermarkets to car dealerships but no evidence was found of any true business activity. 

    The Insolvency Service investigations came following referrals from Companies House as part of the implementation of the Economic Crime and Corporate Transparency Act 2023, introduced to improve transparency over UK companies. 

    Companies House now has powers to remove false, misleading or incorrect information from company registers. The Act also strengthens collaboration between the Insolvency Service and Companies House to crack down on the misuse of UK corporate structures. 

    The five companies were all wound-up at the High Court in Manchester on Thursday 31 July. 

    Dave Magrath, Director of Investigation and Enforcement Services at the Insolvency Service, said: 

    Our investigators were concerned that there was a genuine risk that these wildly inaccurate accounts could have been used to mislead potential customers and suppliers into providing credit in the future based on completely fabricated financial information. 

    Protecting the integrity of the Companies House register is crucial because UK businesses rely on this information to make informed decisions about who they trade with, lend to, and invest in. When companies submit false information, it undermines confidence in our entire business environment. 

    By working together with Companies House, we can take decisive action to remove rogue companies from the system. This protects legitimate businesses and delivers the economic confidence that underpins growth and prosperity.

    Investigations found that the companies were connected through a shared director and/or shareholder and registered office addresses in South Croydon and South London. 

    All submitted accounts claiming hundreds of millions of pounds in profits but containing glaring inconsistencies. Each company also falsely named respected chartered accountants and solicitors in the accounts. 

    Automarket Europe Limited claimed a turnover of £327 million and net profit of £198 million for 2022. However, its declared assets jumped from £629,220 in 2021 to £84 million in the following year’s accounts – with no explanation for the increase. 

    Integra Group Limited reported similar figures, claiming £302 million turnover and £186 million profit for 2022. Again, net assets leapt from £602,374 in 2021 to £233 million in 2022. 

    Maxell Limited went even further, claiming a turnover of £440 million and £229 million in profits in 2022. According to its accounts, assets grew from £618,496 to £422 million in one year. 

    Montana & Montana Limited falsely named PricewaterhouseCoopers (PWC) as its auditors across multiple years. PWC confirmed they had never worked for the company and requested the accounts be removed. The company’s supposed assets ranged from minus £20 million to plus £194 million. 

    Supermarket Plus Ltd claimed the highest turnover of all – £642 million – with £330 million profit in 2022. Its assets supposedly increased from £402,431 to £410 million. 

    Despite the filed accounts claiming the companies ran substantial operations, they were written in poor English and provided no evidence of genuine trading activity.  

    All five companies failed to co-operate with Insolvency Service investigations or provide up-to-date accounting records. 

    Accounts filed by Automarket Europe Limited, Maxell Limited, and Supermarket Plus Ltd were also removed from Companies House after being found to be “factually inaccurate and forged”. 

    Adrian Landeg, Head of Integrity, Compliance & Enforcement at Companies House, said: 

    By working closely with our stakeholders we’re now able to utilise the powers in the Economic Crime and Corporate Transparency Act to take decisive action where false, misleading, or incorrect information is identified on the register. 

    These powers have also strengthened collaboration with our partners at the Insolvency Service which, as this case demonstrates, enables us to crack down on the misuse of UK corporate structures, improve the quality of information on the register and support economic growth.

    The Official Receiver has been appointed as liquidator of Automarket Europe Limited, Integra Group Limited, Maxell Limited, Montana & Montana Limited, and Supermarket Plus Ltd. 

    All enquiries concerning the affairs of the five companies should be made to the Official Receiver of the Public Interest Unit: 16th Floor, 1 Westfield Avenue, Stratford, London, E20 1HZ. Email piu.or@insolvency.gov.uk

    Further information  

    About us 

    The Insolvency Service is a government agency that helps to deliver economic confidence by supporting those in financial distress, tackling financial wrongdoing and maximising returns to creditors. 

    The Insolvency Service is an executive agency, sponsored by the Department for Business and Trade

    Read more about what we do 

    Press Office 

    Journalists with enquiries can call the Insolvency Service Press Office on 0303 003 1743 or email press.office@insolvency.gov.uk (Monday to Friday, 9am to 5pm). 

    Out of hours 

    For any out of hours media enquiries, please contact the Department for Business and Trade (DBT) newsdesk on 020 7215 2000.

    Updates to this page

    Published 31 July 2025

    MIL OSI United Kingdom

  • MIL-OSI: Introducing 1 Hour Payday Loans Online from 1F Cash Advance! Experience Instant Approval Loans with No Credit Check and Get Your Quick Cash the Same Day You Apply

    Source: GlobeNewswire (MIL-OSI)

    BOULDER, Colo., July 31, 2025 (GLOBE NEWSWIRE) — 1F Cash Advance, a responsive fintech committed to delivering fast, people-focused financial solutions, today announces the nationwide launch of its enhanced 1-Hour Payday Loan product. Designed to support Americans with bad credit facing unexpected expenses, the product offers quick financial relief. It addresses record-high financial stress levels affecting households across the country.

    Get Cash in 1 Hour – Apply for a Payday Loan Today!

    1F Cash Advance leverages AI and machine learning to evaluate a broader range of data points, such as social media activity, online transaction patterns, and utility payments, to assess borrower creditworthiness. This innovative approach eliminates the need for a traditional credit check, a benefit that is appreciated by people with limited or poor credit history who are often rejected by banks.

    Using advanced AI analytics, 1F Cash Advance creates personalized loan packages tailored to each borrower’s unique financial profile and needs. This ensures borrowers receive customized solutions rather than standardized, one-size-fits-all offers.

    “Our 1-hour payday loans are built for speed. You apply online, answer a few quick questions, and hear back in minutes,” says Marsha Welch, financial expert at 1F Cash Advance. “The whole idea is to resolve the emergency immediately before it turns into something more serious.”

    As financial demands become more varied and time-sensitive, 1F Cash Advance has expanded its offerings, developing multiple loan options that address a wide range of everyday challenges:

    Today, the urgency and scale of consumer financial insecurity have intensified throughout 2024 and into 2025. The following statistics illustrate this trend:

    • Consumer prices rose by 3.0% over the year leading up to January 2025, according to the U.S. Bureau of Labor Statistics. Many families are still feeling the pressure, even though inflation isn’t as high as it was in 2022.
    • About 37% of Americans say they wouldn’t be able to handle a $400 emergency expense, based on a Federal Reserve report.
    • More than 12 million people now rely on short-term payday loans each year. Just three years ago, that number was around 900,000.

    1-hour payday loans fit today’s fast-paced lifestyle, letting qualified borrowers get $100 to $1,000 almost instantly. You receive a guaranteed approval with no credit check and repay the loan by your next paycheck. The goal: to help Americans manage pressing financial obligations, such as rent, utilities, medical bills, or car repairs, without unnecessary delays or burdensome red tape.

    Apply Now for a 1 Hour Payday Loan – Quick Approval, Instant Relief!

    Unlike conventional loans, which often require collateral or an extensive credit history, these cash advances are unsecured and highly accessible. Applicants need only meet basic eligibility criteria: be a legal adult with a government-issued ID, a consistent income stream, and an active checking account.

    1F Cash Advance utilizes automated systems to verify income and banking history in real-time, without relying on full credit reports. Once approved, funds are deposited directly into the customer’s bank account the same day.

    “It’s a practice that keeps doors open to more people, even for those with bad credit history,” says Latoria Williams, founder & CEO at 1F Cash Advance. “In many cases, approvals arrive in as little as 15 minutes, and the money is on its way before the end of the day.”

    “Speed matters when you’re staring down a utility shutoff or an urgent repair,” adds Marsha Welch. “But clarity is just as important. Even a fast form at 1F Cash Advance is still a legal contract.”

    What makes 1-hour payday loans so appealing is their simplicity: one online form replaces piles of paperwork, no collateral changes hands, and everything stays confidential. The company believes it provides a modern alternative to borrowing from friends or paying overdraft fees, especially for households with tight budgets.

    For many, bridging a short-term cash gap with a clear, straightforward option is well worth the service cost. While fees typically range from $10 to $30 per $100 borrowed, responsible borrowing and transparent terms keep the process manageable. Edward Evans, managing editor and money management expert at 1F Cash Advance, argues that clear disclosures and automated underwriting keep the process transparent: “Fast money should never mean hidden terms. Our goal is relief today without regret tomorrow.”

    From the Field: Statistics & Real Voices of Local Managers

    Experts from 1F Cash Advance analyzed data from their offices nationwide to determine the source of online applications. The leaders were Texas, California, Florida, and Mississippi; these four states account for the majority of commission fees. 1F Cash Advance experts predict that this figure will grow even more in 2024 after receiving final data.

    Usage maps highlight strong demand across the South, Midwest, and Western states. Meanwhile, in regions like New York, Massachusetts, West Virginia, and Oregon, where lending rules are more restrictive, activity remains minimal.

    “1-hour payday loans requests have increased by about 40% over the past two months. Most are for repairs, vehicle or HVAC, a consistent theme.” – José Ramirez, manager from the Texas office.

    “High cost of living in LA and the Bay Area means urgent needs crop up often. We’ve seen overdraft protections and quick payday solutions become essential tools.” – Priya Singh, manager from the California location

    “Midwestern tight budgets show demand for low-sum advances, typical borrowings are $300–$500, often for auto or rent.” – Mark Walters, loan officer from the Ohio store

    “Tourism jobs with irregular pay cycles push us into gig-focused solutions. Approvals are up 35% year‑over‑year.” – Maria Lopez, manager from the Florida store

    1F Cash Advance has emerged as a nimble fintech leader in an industry now serving over $21 million annually in short-term loans.

    Their early adoption of immediately payout technology, combined with strong compliance controls and credit risk data analytics, positions us for rapid scaling. Key metrics include:

    • Year-over-year loan volume increased by 75% in Q1 2025.
    • Net default rate held below 8%, significantly lower than the 15–20% industry average.
    • Customer retention rate exceeds 60%, with high repeat usage among borrowers with stable repayment histories.

    Regional differences in short-term lending come down to two main factors: what states allow and local economic conditions. Texas and Mississippi have looser rules, so people use 1-hour payday loan services more. New York, Massachusetts, and Oregon have strict laws that basically shut down access.

    The economy plays a big role too. California and Florida have tons of gig workers – Uber drivers, delivery people, restaurant staff – who never know what their next paycheck will look like. In tourist areas like Florida and parts of Tennessee, work is seasonal and people get stuck between jobs. Rural areas down South and in the Midwest deal with bad credit and high unemployment, so folks can’t get regular bank loans.

    Things might change next year. Some Midwest states are talking about copying Illinois and capping rates at 36%. 1F Cash Advance worry’s this could backfire – if rates get too low, people might end up borrowing from sketchy offshore websites instead.

    Rising Demand for 1-Hour Payday Loans: Key Reasons

    All signs indicate that the demand for 1-hour Payday Loans will grow, and there are several reasons for this.

    On May 29, 2025, a federal appeals court allowed President Trump’s 10% import tariff to remain in place while legal battles continued. As a result, many retailers are warning customers to expect higher prices on everyday goods as additional costs are passed through the supply chain.

    And Americans are already reacting. According to 1F Cash Advance, 1-hour payday loan inquiries increased by 19% in just one week following the court decision.

    “When prices rise before paychecks do, families look for fast cash that arrives the right now,” explains Latoria Williams.

    Additionally, the gig economy continues to expand. Upwork’s Freelance Forward report reveals that 38% of U.S. workers, about 64 million people, now earn their main income through freelance or gig work. These workers don’t receive paid time off and often wait for client payments, meaning their income can fluctuate significantly from one week to the next.

    “Freelancers can plan their budget, but they can’t lock in a payday,” says Edward Evans. When a client pays late, even a quick $300 advance can be the difference between missing rent and staying on track with repairs. Technology is making access to emergency funds even easier — another reason why interest is growing.

    How Technology Redefining 1-Hour Payday Loans

    As AI-powered approval tools and real-time access to banking data gain traction, a new era of financial inclusion and responsiveness is emerging. Technologies like FedNow®, the Federal Reserve’s real-time payment service, are paving the way for 24/7 banking, including nights and weekends — a significant step forward in meeting the demands of today’s digital-first economy.

    Artificial intelligence is transforming the way creditworthiness is assessed. Instead of relying solely on traditional FICO scores, modern AI models evaluate a broader range of financial behaviors, such as transaction history, income stability, and bill payment patterns. This shift expands access to credit for millions who were previously overlooked by traditional systems, especially gig workers and individuals with non-traditional income streams.

    The launch of FedNow® brings true real-time payments to the U.S. financial system. For consumers, this means instant access to funds — whether it’s loan disbursements, paychecks, or repayments. For lenders, it enables a smooth and efficient flow of capital, improving both borrower satisfaction and operational processes.

    These innovations are particularly important for underbanked populations and gig workers, who often face inconsistent income and limited access to credit. Borrowers with poor credit can get guaranteed approval through AI-driven decisions and instant funding. Flexible repayment schedules match their payday or gig income, making it easier to manage unique financial needs.

    How These Advances Position 1F Cash Advance

    All this tech progress means 1F Cash Advance can offer 1-hour loan services that actually work. They’re not just promising speed — they can deliver it. Here’s how they stack up against your other options when you need cash fast:

    Feature 1F Cash Advance Traditional Banks Credit Cards Other Payday Lenders
    Approval Speed Within 15 minutes Days to weeks Instantly if approved Same day or next day
    Funding Time Usually within 24 hours or the same day  1–5 business days Immediately usable Often same-day
    Transparency Clear fees & terms upfront Regulated disclosure Hidden fees, variable APR Often vague or misleading
    Credit Score Impact Soft check or none Hard check, strict Depends on usage No credit check advertised
    Accessibility Online, low barriers High credit & income reqs Credit-dependent Widely available
    Loan Amounts $100–$5,000 typical $1,000–$50,000 Based on the limit $100–$1,500
    Repayment Flexibility Flexible terms Strict terms High interest if unpaid Lump sum or rollover fees
    Use Case Fit Emergency, short-term needs Large, planned expenses Ongoing purchases Emergency, short-term
             

    Quick Cash in Just 1 Hour – Payday Loans with Guaranteed Approval!

    Look, what used to be cutting-edge is becoming standard. Everyone expects faster service now, whether it’s food delivery or getting a loan with no credit check. The combination of smart AI approval systems and instant payments means companies like 1F Cash Advance can actually help people who banks won’t touch. And when you need money in an hour, that tech backbone is what makes 1-hour payday loans reliable instead of just another empty promise.

    About 1F Cash Advance

    Founded in 2019, 1F Cash Advance was created to help consumers access the funds they need and overcome everyday financial emergencies. The company operates under fair lending laws and uses encryption technologies to protect customer data.

    Headquartered in Boulder, CO, 1F Cash Advance combines digital convenience with local accessibility. In addition to its nationwide online service, the company operates over 80 physical locations across the U.S., including in Texas, Nevada, Kansas, and Tennessee.

    Committed to transparency and customer care, 1F Cash Advance has earned high trust ratings and consistently positive reviews from its clients.

    Media Contact Info

    Mailing Address

    1F Cash Advance, LLC

    1942 Broadway St., STE 314C Boulder, CO 80302

    Main Office Location

    2770 Canyon Blvd, Boulder, CO 80302

    Website: https://1firstcashadvance.org

    E-mail: info@1firstcashadvance.org

    Phone:  (720) 428-2247

    Social Media:

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/49624086-d128-46fd-8edb-9d978d3c425d

    The MIL Network

  • MIL-OSI: Encore Capital Group® Announces Findings of its Third Economic Freedom Study

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, July 31, 2025 (GLOBE NEWSWIRE) — Encore Capital Group, Inc. (Encore) (Nasdaq: ECPG), an international specialty finance company, today announced the findings of its third Economic Freedom Study. The latest study surveyed over 6,000 adults in Encore’s largest markets, the United States and United Kingdom, about their feelings toward their personal finances and the economy.

    Respondents were asked what causes them the most financial stress and the best ways to address their challenges, including attitudes toward working with debt collection companies to resolve past-due debt. The latest study also examines credit score awareness and financial literacy. The research was commissioned by Encore and conducted by Morning Consult.

    A detailed report of the findings is available on Encore’s website. Key highlights from the study include:

    • Most U.S. and U.K. adults feel somewhat or very positive about their personal financial futures, but they are less optimistic about their respective national economies. Nearly half (49%) of U.S. adults say their outlook on the future of the national economy is somewhat or very negative, compared to just over two-thirds (67%) of U.K. adults.
    • “Being debt-free” was the most-selected definition of economic freedom for adults in both countries, chosen by 27% of both U.S. and U.K. adults. Being debt-free was the most-selected definition for every generation in both countries except U.K. Gen Z adults, among whom “having the independence to do/buy what I want” was the most-selected definition (25%).
    • While U.S. adults are more aware of their credit scores than U.K. adults, most adults in each country desire a free way to check their credit score. Over four in five U.S. adults (83%) say they know their credit score, compared to just over half (51%) of U.K. adults. Of those who say they know their credit score, roughly half or more in each country report having a “good” or better rating.
    • Nearly three in 10 (29%) U.S. adults and just under one in five (19%) U.K. adults report currently having past-due debt, especially younger and low-income adults. Most adults with past-due debt in both countries say it will take a long time to pay back most or all of their balance.
    • Today, significantly more U.S. and U.K. adults are requesting help to repay past-due debt compared to the 2022 Encore Economic Freedom Study, and significantly more signal intentions to work with debt collection companies to resolve their debt.

    “Our company supports consumers who are actively dealing with financial stress every day, which makes these findings especially important for us,” said Ashish Masih, Encore’s President and CEO. “By understanding how consumers are thinking and feeling about their finances, which priorities matter most to them, and how they plan to address past-due debt, we can better fulfill our Mission to help them on their path to economic freedom.”

    The survey found that as U.S. consumers are accumulating credit card debt at record levels, and U.K. consumers continue to feel pessimistic about their national economy, adults in both countries are facing high economic concern and are focused on building emergency funds.

    “We continue to be focused on meeting consumers where they are, and we’re well-positioned to help them,” Masih said. “We lead with empathy, tailor solutions to pay off past-due debt to consumers’ unique circumstances, always seek to understand the consumer’s needs and provide access to support in times of hardship.”

    The survey’s findings affirm Encore’s approach to working with consumers. For example, about one-quarter (24%) of adults in both countries said that receiving a discount on debt owed would be most helpful to getting out of debt. Nearly the same number in both countries said having more time to pay off debt would be most helpful, followed by learning better financial habits.

    Midland Credit Management (MCM), Encore’s U.S. subsidiary, published its Consumer Bill of Rights almost 15 years ago, and it remains the only one of its kind in the industry. It clearly defines how MCM will suspend collection activities when a consumer demonstrates that they are experiencing significant financial hardship due to medical issues, natural disasters, job loss or other challenges. Similarly, Cabot Credit Management, Encore’s U.K. and European subsidiary, has a Sensitive Support Team in the United Kingdom, which includes specialists trained to work with consumers facing mental or physical illness resulting in significant financial hardship. The team’s goal is to ensure a consumer’s debts don’t become a barrier to their physical or financial recovery or well-being.

    “It is heartening to see consumers prioritizing being debt-free and showing a willingness to seek help, learn new financial skills and work with companies like Encore to achieve it,” Masih said. “The approach we take with consumers, including working with them one-on-one and tailoring solutions to meet their unique needs and circumstances, aligns well with the findings of the study.”

    The Economic Freedom Study online survey was conducted from April 24-May 2, 2025, among 6,406 adults, including 3,192 U.S. adults and 3,214 U.K. adults. The U.S. and U.K. samples are weighted on age, gender, education, race/ethnicity and region to reflect the demographic makeup of their respective adult (18+) populations according to most recently available census data from each country. The margin of error for the total sample in each country is plus or minus 2 percentage points.

    About Encore Capital Group, Inc.
    Encore Capital Group® is an international specialty finance company that provides debt recovery solutions and other related services across a broad range of financial assets. Through our subsidiaries around the globe, Encore purchases or services portfolios of receivables from major banks, credit unions and utility providers.

    Encore partners with individuals as they repay their debt obligations, helping them on the road to financial recovery and ultimately improving their economic well-being. Encore is the first and only company of its kind to operate with a Consumer Bill of Rights that provides industry-leading commitments to consumers. Headquartered in San Diego, Encore is a publicly traded NASDAQ Global Select company (ticker symbol: ECPG) and a component stock of the Russell 2000, the S&P Small Cap 600 and the Wilshire 4500. More information about the company can be found at http://www.encorecapital.com.

    Contact
    Faryar Borhani
    Vice President, Chief Communications Officer
    press@encorecapital.com

    The MIL Network

  • MIL-OSI USA: Doehler Dry Ingredient Solutions, LLC Recalls Member’s Mark Freeze Dried Fruit Variety Pack for Listeria monocytogenes Contamination

    Source: US Department of Health and Human Services – 3

    Summary

    Company Announcement Date:
    July 30, 2025
    FDA Publish Date:
    July 31, 2025
    Product Type:
    Food & BeveragesFoodborne Illness
    Reason for Announcement:

    Recall Reason Description
    Potential Foodborne Illness – Listeria monocytogenes

    Company Name:
    Doehler Dry Ingredient Solutions, LLC
    Brand Name:

    Brand Name(s)
    Member’s Mark

    Product Description:

    Product Description
    Freeze dried fruit

    Company Announcement
    Cartersville, GA – 7/30/2025 – Doehler Dry Ingredient Solutions, LLC is recalling Member’s Mark Freeze Dried Fruit Variety Pack 15 count boxes, UPC 1 93968 50900 2 due to contamination with Listeria monocytogenes. Listeria monocytogenes, an organism which can cause serious and sometimes fatal infections in young children, frail or elderly people, and others with weakened immune systems. Although healthy individuals may suffer only short-term symptoms such as high fever, severe headache, stiffness, nausea, abdominal pain and diarrhea, a Listeria monocytogenes infection can cause miscarriages and stillbirths among pregnant women.
    No illnesses have been reported to date.
    Products affected are:

    PRODUCT 

    SIZE 

    UPC 

    LOT/MFG CODES 

    USE BY DATE 

    Member’s MarkFreeze Dried FruitVariety Pack

    15 count

    1 93968 50900 2

    25175

    06/24/2027

    Member’s MarkFreeze Dried FruitVariety Pack

    15 count

    1 93968 50900 2

    25176

    06/25/2027

    Member’s MarkFreeze Dried FruitVariety Pack

    15 count

    1 93968 50900 2

    25177

    06/26/2027

    Member’s MarkFreeze Dried FruitVariety Pack

    15 count

    1 93968 50900 2

    25181

    06/30/2027

    Member’s MarkFreeze Dried FruitVariety Pack

    15 count

    1 93968 50900 2

    25182

    07/01/2027

    Member’s MarkFreeze Dried FruitVariety Pack

    15 count

    1 93968 50900 2

    25183

    07/02/2027

    Member’s MarkFreeze Dried FruitVariety Pack

    15 count

    1 93968 50900 2

    25184

    07/03/2027

    Member’s MarkFreeze Dried FruitVariety Pack

    15 count

    1 93968 50900 2

    25186

    07/05/2027

    Member’s MarkFreeze Dried FruitVariety Pack

    15 count

    1 93968 50900 2

    25188

    07/07/2027

    Member’s MarkFreeze Dried FruitVariety Pack

    15 count

    1 93968 50900 2

    25189

    07/08/2027

    Member’s MarkFreeze Dried FruitVariety Pack

    15 count

    1 93968 50900 2

    25190

    07/09/2027

    Member’s MarkFreeze Dried FruitVariety Pack

    15 count

    1 93968 50900 2

    25191

    07/10/2027

    Member’s MarkFreeze Dried FruitVariety Pack

    15 count

    1 93968 50900 2

    25192

    07/11/2027

    Member’s MarkFreeze Dried FruitVariety Pack

    15 count

    1 93968 50900 2

    25196

    07/15/2027

    Member’s MarkFreeze Dried FruitVariety Pack

    15 count

    1 93968 50900 2

    25197

    07/16/2027

    Member’s MarkFreeze Dried FruitVariety Pack

    15 count

    1 93968 50900 2

    25198

    07/17/2027

    Member’s MarkFreeze Dried FruitVariety Pack

    15 count

    1 93968 50900 2

    25199

    07/18/2027

    Member’s MarkFreeze Dried FruitVariety Pack

    15 count

    1 93968 50900 2

    25202

    07/21/2027

    Member’s MarkFreeze Dried FruitVariety Pack

    15 count

    1 93968 50900 2

    25203

    07/22/2027

    Member’s MarkFreeze Dried FruitVariety Pack

    15 count

    1 93968 50900 2

    25204

    07/23/2027

    Member’s MarkFreeze Dried FruitVariety Pack

    15 count

    1 93968 50900 2

    25205

    07/24/2027

    Member’s MarkFreeze Dried FruitVariety Pack

    15 count

    1 93968 50900 2

    25206

    07/25/2027

    The firm discovered the problem via internal testing of their products. The products were distributed between 7/1/2025-7/25/2025 and sold in Sam’s Club retail stores. These products were packaged in foil pouches inside a corrugated box. The lot number and expiration date are located on the bottom of the case. Product was shipped to distribution centers in the following states: AL, AZ, CA, CO, CT, DE, FL, GA, HI, IA, ID, IL, IN, KS, LA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, PA, PR, SC, SD, TN, TX, UT, VA, WI, WV, WY. Consumers who have this product in their possession should not consume the product. They should discard it and may visit any Sam’s Club for a full refund.
    Consumers with questions may contact Doehler Dry Ingredient Solutions, LLC’s Customer Service at 770-387-0451, Monday-Friday 8am-5pm EST.
    This recall is being made with the knowledge of the Food and Drug Administration.

    Company Contact Information

    Consumers:
    Doehler Dry Ingredient Solutions, LLC’s Customer Service
    770-387-0451

    Product Photos

    Content current as of:
    07/31/2025

    Regulated Product(s)

    Topic(s)

    Follow FDA

    MIL OSI USA News

  • MIL-OSI: The Bull Market Is Back! Enjoy 100x Leverage, 100% Deposit Bonus, and No KYC on BexBack

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, July 31, 2025 (GLOBE NEWSWIRE) — BexBack Exchange has launched an aggressive new promotion to empower both new and seasoned crypto traders: All eligible new users receive a $50 welcome bonus and a 100% deposit bonus match. As the crypto market braces for another period of high volatility, BexBack is making futures trading more accessible and profitable than ever. With up to 100x leverage, zero KYC requirements, and support for over 50 digital assets, the platform provides an ideal environment for those seeking to capitalize on market swings without large upfront capital.

    Advantages of 100x Leverage Crypto Futures

    1. Amplified Profits: Control large positions with a small amount of capital, capturing more profits from market fluctuations.
    2. Low Capital Requirement: Participate in high-value trades with minimal investment, lowering the entry barrier.
    3. Increased Market Opportunities: Profit quickly from price fluctuations, especially in volatile markets.
    4. High Capital Efficiency: Leverage enables better use of your capital, expanding your investment potential.
    5. Profit from Both Up and Down Markets: Adapt to any market conditions, with opportunities to profit whether the market goes up or down.

    What Is 100x Leverage and How Does It Work?

    Simply put, 100x leverage allows you to open larger trading positions with less capital. For example:

    Suppose the Bitcoin price is $100,000 that day, and you open a long contract with 1 BTC. After using 100x leverage, the transaction amount is equivalent to 100 BTC.

    One day later, if the price rises to $105,000, your profit will be (105,000 – 100,000) * 100 BTC / 100,000 = 5 BTC, a yield of up to 500%.

    With BexBack’s deposit bonus

    BexBack offers a 100% deposit bonus. If the initial investment is 2 BTC, the profit will increase to 10 BTC, and the return on investment will double to 1000%.

    Note: Although leveraged trading can magnify profits, you also need to be wary of liquidation risks.

    How Does the 100% Deposit Bonus Work?
    The deposit bonus from BexBack cannot be directly withdrawn but can be used to open larger positions and increase potential profits. Additionally, during significant market fluctuations, the bonus can serve as extra margin, effectively reducing the risk of liquidation.

    About BexBack?

    BexBack is a leading cryptocurrency derivatives platform offering up to 100x leverage on futures contracts for BTC, ETH, ADA, SOL, XRP, and over 50 other digital assets. Headquartered in Singapore, the platform also operates offices in Hong Kong, Japan, the United States, the United Kingdom, and Argentina. Like many top-tier exchanges, BexBack holds a U.S. MSB (Money Services Business) license and is trusted by more than 500,000 traders worldwide. The platform accepts users from the United States, Canada, and Europe, with zero deposit fees and 24/7 multilingual customer support, delivering a secure, efficient, and user-friendly trading experience.

    Why recommend BexBack?

    No KYC Required: Start trading immediately without complex identity verification.

    100% Deposit Bonus: Double your funds, double your profits.

    High-Leverage Trading: Offers up to 100x leverage, maximizing investors’ capital efficiency.

    Demo Account: Comes with 10 BTC in virtual funds, ideal for beginners to practice risk-free trading.

    Comprehensive Trading Options: Feature-rich trading available via Web and mobile applications.

    Convenient Operation: No slippage, no spread, and fast, precise trade execution.

    Global User Support: Enjoy 24/7 customer service, no matter where you are.

    Lucrative Affiliate Rewards: Earn up to 50% commission, perfect for promoters.

    Take Action Now—Don’t Miss Another Opportunity!

    If you missed the previous crypto bull run, this could be your chance. With BexBack’s 100x leverage and 100% deposit bonus and $50 bonus for new users, Deposit more than 0.001 BTC or 100 USDT and complete a transaction (opening and closing a position) within one week after registration, you can be a winner in the new bull run.

    Sign Up Now on BexBack — Break the 100x Leverage and KYC Barriers, Get Double Deposit Bonus and $50 Welcome Bonus Instantly

    Website: www.bexback.com

    Contact: business@bexback.com

    Contact:
    Amanda
    business@bexback.com

    Disclaimer: This content is provided by BexBack.The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/a9f5a0cf-051d-44d7-a429-02ff4dcbb904

    https://www.globenewswire.com/NewsRoom/AttachmentNg/5e20b337-3387-49e0-a604-32858abc02b3

    https://www.globenewswire.com/NewsRoom/AttachmentNg/e12db18f-982b-4f13-9313-db09645a4133

    https://www.globenewswire.com/NewsRoom/AttachmentNg/2bd1b5aa-9dbf-417b-add5-7229b1e9a13e

    The MIL Network

  • MIL-OSI USA: Illumina Inc. to Pay $9.8M to Resolve False Claims Act Allegations Arising from Cybersecurity Vulnerabilities in Genomic Sequencing Systems

    Source: US State of North Dakota

    Illumina Inc. has agreed to pay $9.8 million to resolve allegations that it violated the False Claims Act when it sold to federal agencies certain genomic sequencing systems with cybersecurity vulnerabilities. Illumina is a Delaware corporation, headquartered in California, that manufactured and sold genomic sequencing systems throughout the United States.

    The settlement resolves allegations that, between February 2016 and September 2023, Illumina sold government agencies genomic sequencing systems with software that had cybersecurity vulnerabilities, without having an adequate security program and sufficient quality systems to identify and address those vulnerabilities. Specifically, the United States contended that Illumina knowingly failed to incorporate product cybersecurity in its software design, development, installation, and on-market monitoring; failed to properly support and resource personnel, systems, and processes tasked with product security; failed to adequately correct design features that introduced cybersecurity vulnerabilities in the genomic sequencing systems; and  falsely represented that the software on the genomic sequencing systems adhered to cybersecurity standards, including standards of the International Organization for Standardization and National Institute of Standards and Technology.

    “Companies that sell products to the federal government will be held accountable for failing to adhere to cybersecurity standards and protecting against cybersecurity risks,” said Assistant Attorney General Brett A. Shumate of the Justice Department’s Civil Division. “This settlement underscores the importance of cybersecurity in handling genetic information and the Department’s commitment to ensuring that federal contractors adhere to requirements to protect sensitive information from cyber threats.”

    “This settlement demonstrates our continuing commitment to combat cybersecurity risks by ensuring that federal contractors protect private and sensitive government information.” said Acting U.S. Attorney Sara Bloom for the District of Rhode Island.

    “This settlement demonstrates our continued commitment to work with our law enforcement partners and the Department of Justice to ensure companies fulfill their contractual obligations,” said Acting Special Agent in Charge Christopher M. Silvestro of the Defense Criminal Investigative Service (DCIS) Northeast Field Office, the law enforcement arm of the Department of Defense’s Office of Inspector General. “Safeguarding the validity of Department of Defense research and data is vital to supporting the warfighter.” 

    Significant damage can result from a failure to adhere to required cybersecurity standards, especially when the systems involved include sensitive genomic data,” said Special Agent in Charge Roberto Coviello of the U.S. Department of Health and Human Services Office of Inspector General (HHS-OIG). “HHS-OIG and our law enforcement partners remain dedicated to ensuring that entities who do business with the government uphold their cybersecurity obligations.”

    The settlement resolves a lawsuit filed under the whistleblower provisions of the False Claims Act, which permit private parties to sue on behalf of the government when a defendant has submitted false claims for government funds and receive a share of any recovery. The settlement in this case provides for the whistleblower, Erica Lenore, a former Director for Platform Management, On-Market Portfolio at Illumina, to receive $1,900,000 as her share of the settlement. The qui tam case is captioned United States ex. rel. Lenore v. Illumina Inc., No. 1:23-cv-00372 (D.R.I.).

    The resolution obtained in this matter was the result of a coordinated effort between the Justice Department’s Civil Division, Commercial Litigation Branch, Fraud Section, and the United States Attorney’s Office for the District of Rhode Island, with assistance from DCIS, the Army Criminal Investigation Division, the HHS Office of the Inspector General, and the Department of Commerce Office of the Inspector General.

    The matter was investigated by Trial Attorney Erin Colleran of the Justice Department’s Civil Division and Acting U.S. Attorney Sara Bloom of the District of Rhode Island.

    The claims resolved by the settlement are allegations only and there has been no determination of liability. 

    MIL OSI USA News

  • MIL-OSI Security: Illumina Inc. to Pay $9.8M to Resolve False Claims Act Allegations Arising from Cybersecurity Vulnerabilities in Genomic Sequencing Systems

    Source: United States Attorneys General

    Illumina Inc. has agreed to pay $9.8 million to resolve allegations that it violated the False Claims Act when it sold to federal agencies certain genomic sequencing systems with cybersecurity vulnerabilities. Illumina is a Delaware corporation, headquartered in California, that manufactured and sold genomic sequencing systems throughout the United States.

    The settlement resolves allegations that, between February 2016 and September 2023, Illumina sold government agencies genomic sequencing systems with software that had cybersecurity vulnerabilities, without having an adequate security program and sufficient quality systems to identify and address those vulnerabilities. Specifically, the United States contended that Illumina knowingly failed to incorporate product cybersecurity in its software design, development, installation, and on-market monitoring; failed to properly support and resource personnel, systems, and processes tasked with product security; failed to adequately correct design features that introduced cybersecurity vulnerabilities in the genomic sequencing systems; and  falsely represented that the software on the genomic sequencing systems adhered to cybersecurity standards, including standards of the International Organization for Standardization and National Institute of Standards and Technology.

    “Companies that sell products to the federal government will be held accountable for failing to adhere to cybersecurity standards and protecting against cybersecurity risks,” said Assistant Attorney General Brett A. Shumate of the Justice Department’s Civil Division. “This settlement underscores the importance of cybersecurity in handling genetic information and the Department’s commitment to ensuring that federal contractors adhere to requirements to protect sensitive information from cyber threats.”

    “This settlement demonstrates our continuing commitment to combat cybersecurity risks by ensuring that federal contractors protect private and sensitive government information.” said Acting U.S. Attorney Sara Bloom for the District of Rhode Island.

    “This settlement demonstrates our continued commitment to work with our law enforcement partners and the Department of Justice to ensure companies fulfill their contractual obligations,” said Acting Special Agent in Charge Christopher M. Silvestro of the Defense Criminal Investigative Service (DCIS) Northeast Field Office, the law enforcement arm of the Department of Defense’s Office of Inspector General. “Safeguarding the validity of Department of Defense research and data is vital to supporting the warfighter.” 

    Significant damage can result from a failure to adhere to required cybersecurity standards, especially when the systems involved include sensitive genomic data,” said Special Agent in Charge Roberto Coviello of the U.S. Department of Health and Human Services Office of Inspector General (HHS-OIG). “HHS-OIG and our law enforcement partners remain dedicated to ensuring that entities who do business with the government uphold their cybersecurity obligations.”

    The settlement resolves a lawsuit filed under the whistleblower provisions of the False Claims Act, which permit private parties to sue on behalf of the government when a defendant has submitted false claims for government funds and receive a share of any recovery. The settlement in this case provides for the whistleblower, Erica Lenore, a former Director for Platform Management, On-Market Portfolio at Illumina, to receive $1,900,000 as her share of the settlement. The qui tam case is captioned United States ex. rel. Lenore v. Illumina Inc., No. 1:23-cv-00372 (D.R.I.).

    The resolution obtained in this matter was the result of a coordinated effort between the Justice Department’s Civil Division, Commercial Litigation Branch, Fraud Section, and the United States Attorney’s Office for the District of Rhode Island, with assistance from DCIS, the Army Criminal Investigation Division, the HHS Office of the Inspector General, and the Department of Commerce Office of the Inspector General.

    The matter was investigated by Trial Attorney Erin Colleran of the Justice Department’s Civil Division and Acting U.S. Attorney Sara Bloom of the District of Rhode Island.

    The claims resolved by the settlement are allegations only and there has been no determination of liability. 

    MIL Security OSI

  • MIL-OSI: AI/R Accelerates Personalization at Scale Through Webjump’s Latest Adobe Milestone

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, July 31, 2025 (GLOBE NEWSWIRE) — AI/R, the AI Revolution Company, today announced that its subsidiary, Webjump, has achieved the Adobe Experience Manager (AEM) Assets Specialization in the Americas. This accomplishment—Webjump’s fifth Adobe specialization—underscores AI/R’s commitment to helping global enterprises deliver personalized digital experiences at scale.

    Powering Personalization with AEM Assets

    As brands face mounting pressure to deliver tailored content across every channel, the ability to manage, optimize, and activate digital assets efficiently has become a business imperative. Webjump’s newly earned AEM Assets Specialization demonstrates advanced expertise in enabling organizations to:

    Centralize and organize digital assets for rapid access and global collaboration.
    Accelerate content velocity by automating asset tagging, versioning, and distribution.
    Personalize experiences at scale by integrating AEM Assets with Adobe Target and Adobe Analytics, ensuring the right content reaches the right audience at the right time.
    Support omnichannel delivery with AI-powered asset optimization for web, mobile, and emerging channels.

    “Personalization at scale is only possible when brands have full control and visibility over their digital assets,” said Alisson Aguiar, CTO at Webjump. “With this specialization, we help clients break down content silos and deliver dynamic, relevant experiences that drive engagement and growth.”

    Delivering Measurable Business Outcomes

    Webjump’s specialization is more than a credential—it’s a commitment to helping clients realize tangible results:

    Faster time-to-market for campaigns and product launches.
    Consistent brand experiences across regions, languages, and channels.
    Reduced operational costs through automation and streamlined workflows.
    Actionable insights via seamless integration with Adobe’s analytics and personalization tools.

    “Our clients trust us to solve their most complex digital challenges,” said Alexandre Rodrigues, Managing Director at Webjump. “With AEM Assets, we empower them to move beyond basic asset management—unlocking the full potential of personalization, content agility, and measurable ROI.”

    For more information about Webjump’s Adobe specializations and digital experience services, please visit the website.

    About AI/R

    AI/R, headquartered in California, is an Agentic AI Software Engineering company that combines its ecosystem of highly specialized technology brands, proprietary AI platforms, and strategic partner platforms to amplify human intelligence and drive a revolution across industries, setting efficient standards for innovation and business productivity. By embedding AI into every aspect of its operations, AI/R’s mission is to make the AI revolution a revolution for everyone, empowering human talent while raising the bar for digital transformation. Let’s breathe in the future.

    Contact Information: 

    Milena Buarque Lopes Bandeira
    milena.bandeira@aircompany.ai

    The MIL Network

  • MIL-OSI United Kingdom: TRA proposes keeping anti-dumping measure on bikes from China

    Source: United Kingdom – Executive Government & Departments

    Press release

    TRA proposes keeping anti-dumping measure on bikes from China

    The TRA proposes that an anti-dumping measure on bicycles and bicycle parts from China be maintained, benefitting UK producers by up to £9 million per year.

    The Trade Remedies Authority (TRA) has today (31 July 2025) published its initial findings proposing that an anti-dumping measure on bicycles and certain bicycle parts imported from China be maintained until 30 August 2029.  

    Maintaining these measures will help to protect the UK’s bicycle industry, which includes many small and medium sized businesses employing thousands of people, from unfair international trade practices.

    In its Statement of Essential Facts, the TRA found that the dumping initially identified at the time the measures were first established would (as a result of China’s increased production capacity) likely resume if the measure was removed and that injury to UK industry would be likely as a result. The TRA determined that extending the current measure could help prevent dumping of low-priced bicycles and benefit UK producers by £1-£9 million per year.

    Current anti-dumping duties on Chinese bicycle and bicycle parts imports range from 19.2% to 48.5%, depending on the exporter.

    As part of its investigation, the TRA considered whether the anti-dumping measure should be maintained only on bicycles but removed on bicycle parts. However, the TRA has not presented this as an option due to the lack of clear evidence from industry participants and the continued risk of circumvention if the duties on parts were removed.

    A period of consultation is now open, during which interested parties can comment on the findings and provide any additional evidence, before a final recommendation is made to the Secretary of State. Businesses that may be affected by these findings can submit comments to the TRA by 25 August 2025 and can do so through the TRA’s public file.

    Background Information

    • The initial findings published today follow a transition review that was initiated on 23 August 2024. 
    • The reviewed products include bicycles and certain essential bicycle parts such as frames, wheels, handlebars, and brake components from China, including bicycles consigned from Cambodia, Indonesia, Malaysia, Pakistan, the Philippines, Sri Lanka and Tunisia.
    • In its investigation, the TRA found that China produces the greatest volume of bicycles in the world, estimated to account for 60% of global production. This equated to over 48 million bicycles in 2023 and the TRA found evidence to suggest this production capacity is growing.

    • Around 1.6 million bicycles are sold in the UK each year, with China accounting for around 24% of bicycle imports by volume during the period of investigation.

    • The Trade Remedies Authority is the independent UK body that investigates whether new trade remedy measures are needed to counter unfair import practices and unforeseen surges of imports.   
    • The TRA is an arm’s length body of the Department for Business and Trade.   
    • Anti-dumping duties allow a country or union to act against goods which are being sold at less than their normal value – this is defined as the price for ‘like goods’ sold in the exporter’s home market.  
    • The period of investigation (POI) for the review was 01 July 2023 to 30 June 2024. To assess injury, the TRA chose the period from 01 July 2020 to 30 June 2024 as the injury period (IP).

    Updates to this page

    Published 31 July 2025

    MIL OSI United Kingdom

  • MIL-OSI: Scallop Receives US MSB License, Unlocking Mass-Market Potential for Global Crypto Adoption

    Source: GlobeNewswire (MIL-OSI)

    LONDON, July 31, 2025 (GLOBE NEWSWIRE) — Scallop, the regulated digital banking platform bridging fiat and crypto, has officially received approval as a Money Services Business (MSB) in the United States. This license grants access to one of the most important financial markets in the world and marks a major step toward the mainstream adoption of digital assets.

    With the MSB license, Scallop joins a select group of crypto-native platforms legally authorized to offer both fiat and crypto services in the US. Combined with existing permissions in more than 160 countries, Scallop now holds one of the broadest regulatory footprints in the industry.

    Why the US matters

    The United States remains the largest and most influential consumer market for finance and technology. As crypto regulation becomes clearer under the returning Trump administration, demand for secure, easy-to-use platforms is rising quickly. Millions of Americans are looking for secure and straightforward ways to buy, hold, and spend digital assets.

    Scallop meets this need by offering a fully integrated banking and crypto experience. Unlike most competitors, which operate only in a limited set of jurisdictions or offer crypto-only tools, Scallop delivers a complete financial solution.

    What users can expect

    The upcoming Scallop App will offer:

    • Multi-currency Fiat accounts
    • Visa Debit Cards: Top up with fiat or crypto
    • Mastercard Credit Cards: Crypto-backed credit access
    • On- and off-ramp services for fiat and crypto
    • Real-time spending and account control
    • A clean, simple interface that works for everyone — even first-time users

    The app is powered by $EMYC, Scallop’s utility token, which unlocks card tiers, enables staking benefits, and is used for gas fees across the platform. Token utility will be further expanded through features such as revenue-linked buybacks and access to premium account functions.

    Infrastructure for Web3 builders

    Scallop also provides a developer SDK for Web3 wallets, fintech apps, and global platforms. This allows partners to integrate Scallop’s financial infrastructure, including fiat banking, card issuing, FX services, and compliance modules, directly into their own products.
    All services are backed by Scallop’s regulatory licenses

    A gateway for global growth

    With its MSB license secured and app launch approaching, Scallop is positioned as one of the only crypto-fintech platforms ready to scale globally. The company is focused on enabling real-world crypto use, not just trading, but daily financial interaction. That includes giving users access to banking tools, cards, and digital assets in one place, all within a regulated environment they can trust.

    The Scallop App is launching soon.
    A full revamp of the official website (https://scallopx.com) will go live in the coming days, featuring a refreshed design, updated content, and easier access to all core features.

    Interested users can now join the official waitlist for early access to the app:
    www.scallopx.com/waitlist

    Follow Scallop on X and Telegram:
    https://x.com/emoney_network
    https://t.me/Emoney_io

    About Scallop

    Scallop is a UK-founded digital finance platform, headquartered in the heart of London.
    Built to bridge traditional finance and crypto, Scallop combines regulated banking infrastructure with seamless access to digital assets. The platform offers multi-currency fiat accounts, fiat-crypto on and off ramps, and both Visa and Mastercard payment solutions, all within a single, easy-to-use interface.

    Founded by Raj Bagadi, who also serves as CEO, Scallop’s mission is to make digital money usable in everyday life. The company is focused on building a trusted and compliant environment where both individuals and institutions can manage crypto and fiat with confidence. With operations spanning over 160 countries and a growing suite of B2B integrations, Scallop is setting a new standard for global crypto-fiat finance.

    Contact:
    Michael S.
    Michaels@scallopx.com

    Disclaimer: This content is provided by Scallop. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bc95abfb-1247-4e05-9720-6419be0e3e64

    The MIL Network

  • MIL-OSI: Middlefield Banc Corp. Announces Additions to Banking Team

    Source: GlobeNewswire (MIL-OSI)

    John Cunningham appointed Northeast Ohio Commercial Market Executive
    Thomas Young appointed Northeast Ohio Commercial Relationship Manager
    Nick Paradiso appointed Central Ohio Commercial Relationship Manager
    Middlefield also announces the retirement of Jack Gregorin Northeast Ohio Commercial Relationship Manager

    MIDDLEFIELD, Ohio, July 31, 2025 (GLOBE NEWSWIRE) — Middlefield Banc Corp. (NASDAQ: MBCN) today announced that John Cunningham has been appointed Northeast Ohio Commercial Market Executive, Thomas Young has been appointed Northeast Ohio Commercial Relationship Manager, and Nick Paradiso has been appointed Central Ohio Commercial Relationship Manager. These additions reflect Middlefield’s continued commitment to expanding its commercial banking capabilities and delivering strong relationship-driven services across its Ohio markets.

    The Company also announced the retirement of Jack Gregorin, after a 43-year banking career with the last seven years at Middlefield as the Company’s Northeast Ohio Commercial Relationship Manager.

    Ronald L. Zimmerly, Jr., President, and Chief Executive Officer, stated, “As we continue to invest in our commercial banking business, John, Tom, and Nick bring the experience, leadership, and deep community connections that will support our clients and strengthen our presence in our Northeast and Central Ohio markets. These appointments demonstrate our commitment to build high-performing teams across our Ohio communities and serve as a reliable financial partner to the region’s business community.”

    Zimmerly continued, “On behalf of the entire Middlefield family, I want to thank Jack for his years of service to the Bank. For 43 years, Jack has provided commercial customers throughout Ohio with integrity and proven financial advice. I wish Jack well on his next chapter.”

    John Cunningham Appointed SVP, Northeast Ohio Commercial Market Executive
    In this role, Cunningham will oversee Middlefield’s commercial growth strategy and relationship management across the Company’s Northeast Ohio footprint. With nearly 30 years of banking experience and a reputation for building high-performing teams, Cunningham brings significant expertise in commercial real estate and middle market banking. From 2021 to 2025, Cunningham was the SVP – Senior Managing Director, Commercial Real Estate at Premier Bank. Prior to this, he held positions at TCF Bank / Chemical Bank, The Home Saving and Loan Bank, Huntington National Bank, National City Bank, and Associates First Capital Corporation.

    As a Northeast Ohio native, Cunningham holds degrees from Miami University and Case Western Reserve University’s Weatherhead School of Business. Beyond banking, he’s a passionate supporter of the arts, having recently completed eight years of service as Trustee and Treasurer for the Valley Arts Center in Chagrin Falls.

    Thomas Young Appointed VP, Northeast Ohio Commercial Relationship Manager
    As VP, Northeast Ohio Commercial Relationship Manager, Young will focus on delivering strategic advice to business clients in the Northeast Ohio Region, helping them improve cash flow, finance key assets, and mitigate risk. With a strong analytical skillset and a passion for supporting business growth, Young has built a career helping clients navigate change and seize opportunity.   Most recently, he was VP, Senior Business Banking Relationship Manager at U.S. Bank from 2023 to 2025. His prior experience includes roles at First Federal of Lakewood, First National Bank of Pennsylvania, PNC Bank, FirstMerit Bank, Huntington National Bank, and KeyBank.

    Young holds degrees from Louisiana State University – Shreveport, and Myers University. He has also played a leadership role in local economic development, having served as Director and Past Board President of the Mentor Economic Assistance Corporation (MEACO).

    Nick Paradiso Appointed VP, Central Ohio Commercial Relationship Manager
    As VP, Central Ohio Commercial Relationship Manager, Paradiso will focus on delivering strategic advice to business clients within Central Ohio, helping them improve cash flow, finance key assets, and mitigate risk. With over 15 years of experience in banking, Paradiso is a seasoned commercial lender providing customized financing solutions to small and medium-sized businesses. Most recently, he was VP, Commercial Lending at Civista Bank from 2023 to 2025. His prior experience includes roles at LCNB National Bank, CFBank, Huntington National Bank, and Fifth Third Bank.

    Paradiso holds degrees from John Carroll University and the University of Dayton. He is active across the Columbus community and is currently a member of the Short North Rotary Club, Association for Corporate Growth, Columbus Italian Club, Franklinton Board of Trade, Ohio Business Brokers Association, and Columbus Chamber.

    About Middlefield Banc Corp.
    Middlefield Banc Corp., headquartered in Middlefield, Ohio, is the Bank holding Company of The Middlefield Banking Company, with total assets of $1.92 billion at June 30, 2025. The Bank operates 21 full-service banking centers and an LPL Financial® brokerage office serving Ada, Beachwood, Bellefontaine, Chardon, Cortland, Dublin, Garrettsville, Kenton, Mantua, Marysville, Middlefield, Newbury, Orwell, Plain City, Powell, Solon, Sunbury, Twinsburg, and Westerville. The Bank also operates a Loan Production Office in Mentor, Ohio.

    Additional information is available at www.middlefieldbank.bank

    FORWARD-LOOKING STATEMENTS
    This press release of Middlefield Banc Corp. and the reports Middlefield Banc Corp. files with the Securities and Exchange Commission often contain “forward-looking statements” relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Middlefield Banc Corp. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Middlefield Banc Corp.’s future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce interest margins; (3) changes in prepayment speeds, charge-offs and loan loss provisions; (4) less favorable than expected general economic conditions; (5) legislative or regulatory changes that may adversely affect businesses in which Middlefield Banc Corp. is engaged; (6) technological issues which may adversely affect Middlefield Banc Corp.’s financial operations or customers; (7) changes in the securities markets; or (8) risk factors mentioned in the reports and registration statements Middlefield Banc Corp. files with the Securities and Exchange Commission. Middlefield Banc Corp. undertakes no obligation to release revisions to these forward-looking statements or to reflect events or circumstances after the date of this press release.

    Company Contact: Investor and Media Contact:
    Ron Zimmerly
    President and Chief Executive Officer
    Middlefield Banc Corp.
    (419) 673-1217
    RZimmerly@middlefieldbank.com
    Andrew M. Berger
    Managing Director
    SM Berger & Company, Inc.
    (216) 464-6400
    andrew@smberger.com

    Photos accompanying this announcement are available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/56766f6d-9249-44ca-8226-d735f1753dd7
    https://www.globenewswire.com/NewsRoom/AttachmentNg/9adb82cd-789f-4649-9e89-d04cfa08261b
    https://www.globenewswire.com/NewsRoom/AttachmentNg/e069967c-0af2-46c4-8ef6-d562ac773761

    The MIL Network

  • MIL-OSI USA: Gov. Kemp Announces 114 Appointments to Boards, Authorities, and Commissions

    Source: US State of Georgia

    Atlanta, GA – Governor Brian P. Kemp today announced 114 appointments and reappointments to various state boards, authorities, and commissions.

    Georgia Composite Medical Board

    Srenni Gangasani and David Retterbush were reappointed.

    Kamesha Harbison is a board-certified obstetrician-gynecologist serving the South Columbus community. She has provided women’s health care in the Chattahoochee Valley for over a decade, delivering comprehensive OB/GYN services and assisting with more than 1,000 births. She has also led community health initiatives, including organizing prenatal education and resource events for expectant mothers. Harbison began her career as a high school biology and chemistry teacher after earning a B.S. and M.Ed. from Xavier University of Louisiana. She later earned her medical degree from the University of Iowa Roy J. and Lucille A. Carver College of Medicine and completed her OB/GYN residency at Mercer University in Macon, Georgia. As an educator, she developed a mentoring program to address adolescent health, hygiene, and goal setting—laying the foundation for her transition into women’s healthcare. She is recognized for her commitment to patient education, community outreach, and improving health outcomes for women across the region.

    State Workforce Development Board

    Bárbara Rivera Holmes was sworn in as the 11th Commissioner of the Georgia Department of Labor and the state’s first Latina constitutional officer on April 4, 2025, by Georgia Gov. Brian Kemp. Holmes’ extensive experience includes appointments by former Gov. Nathan Deal to the Board of Regents of the University System of Georgia, which oversees Georgia’s 26 public colleges and universities, and by former Lt. Gov. Geoff Duncan as co-chair of the Georgia Innovates Task Force, which helped design the state’s technology blueprint. A former journalist, Holmes has earned awards for excellence in journalism from the Georgia Associated Press. She holds degrees in journalism and Spanish from Florida Southern College and studied at Estudio Sampere Internacional in Spain. A native of San Juan, Puerto Rico, Holmes resides in Albany with her husband, David, and their daughter.

    Steve Bradshaw served eight years on the DeKalb County Board of Commissioners. First elected in 2016, he was re-elected in 2020 without opposition. During his tenure, he was twice unanimously elected by his colleagues to serve as Presiding Officer of the Board. He also chaired several key committees, including Finance, Audit and Budget; Public Works and Infrastructure; and County Operations. Prior to public service, Bradshaw spent more than 15 years in the private sector in operations management and business development roles, most recently as business development manager for Delta Global Staffing, a subsidiary of Delta Air Lines. Bradshaw began his professional career as a U.S. Army officer as a tank commander. He served in both domestic and international assignments, including deployment to the Middle East during the First Persian Gulf War. His final military post was as a leadership instructor at the Army Officer Candidate School. He holds a master’s degree in public administration from Georgia State University and later served as an adjunct professor in the university’s Andrew Young School of Policy Studies, teaching both undergraduate and graduate students.

    Hearing Panel of the Judicial Qualifications Commission

    Richard Hyde was reappointed.

    Georgia Board of Examiners of Licensed Dietitians

    Cicely Thomas was reappointed.

    Alison Sturgill is a licensed and registered dietitian with over a decade of clinical experience specializing in oncology nutrition. She currently serves as a clinical dietitian IV at the Emory Proton Therapy Center, where she provides medical nutrition therapy to patients undergoing radiation treatment for various cancers. Previously, she held a similar role at Emory University Hospital, where she led inpatient oncology nutrition care and served as a preceptor and educator for dietetic interns. Sturgill holds both a Master of Science and a Bachelor of Science in Nutrition from Murray State University and is a Certified Specialist in Oncology Nutrition (CSO). Her work has been published in the Journal of Nursing Care Quality, and she remains active in multiple professional organizations, including the Academy of Nutrition and Dietetics.

    Franklin D. Roosevelt Warm Springs Memorial Advisory Committee

    Eric Bentley is retired from the Georgia Department of Natural Resources with over three decades of service to Georgia State Parks and Historic Sites, including a deep and enduring connection to the Little White House State Historic Site. A graduate of the University of Georgia with a degree in forest resources, Bentley began his career at Unicoi State Park before serving in various leadership roles, including park manager at Kolomoki Mounds and Fort Yargo. He was named Manager of the Year in 2009 and later served as Region 3 Manager, where he oversaw operations at the Little White House and F.D. Roosevelt State Park, secured funding, and strengthened partnerships with the Advisory Committee. From 2019 until his retirement in 2022, Bentley served as Assistant Director of State Parks, continuing to advocate for the Little White House and playing a key role in advancing major preservation projects.

    Board of Juvenile Justice

    Lisa Colbert was reappointed.

    State Board of Veterinary Medicine

    Jessica Sewell was reappointed.

    Employee Benefit Plan Council

    Courtney Ware and Christopher Wells were reappointed.

    Angelique McClendon was appointed Commissioner of the Georgia Department of Driver Services (DDS) on May 1, 2025. She joined DDS as General Counsel in 2015 and was later promoted to Assistant Deputy Commissioner of Legal and Regulatory Affairs. Her legal career began in 2005 as an assistant solicitor in DeKalb County, followed by her service as an assistant attorney general for the State of Georgia from 2008 to 2015, where she represented public safety agencies, including DDS.  McClendon has provided legal guidance on major state initiatives, including Georgia’s Digital Driver’s License, and is a recognized expert on identity management, digital credentials, and data privacy. She has held leadership roles with the American Association of Motor Vehicle Administrators (AAMVA), helping shape national policy and best practices in driver’s license administration. She holds a Bachelor of Science in chemistry from Xavier University of Louisiana and a Juris Doctor from Georgia State University College of Law.

    Board of Community Affairs

    Kwanza Hall, Donna Armstrong Lackey, and Charlie Maddox were reappointed.

    State Board of Technical College System of Georgia

    Mike Long, Fran Millar, and Lisa Winton were reappointed.

    North Georgia Mountains Authority

    Jeff Andrews, Randy Dellinger, Patrick Denney, Dan Garcia, and Paul Shailendra were reappointed.

    State Board of Podiatry Examiners

    Rupal Gupta is a board-certified podiatrist with over 20 years of clinical, academic, and administrative experience. She currently practices at Ankle and Foot Centers of America and has held leadership roles in both hospital and professional association settings, including serving as president of the Georgia Podiatric Medical Association and department chief at Emory Johns Creek Hospital. Gupta completed her residency at Jackson North Medical Center, where she received advanced training in surgical and non-surgical foot and ankle care, trauma, and wound management. She holds a Doctorate in podiatric medicine from Kent State University and a bachelor’s degree from Emory University. Dedicated to advancing podiatric medicine and public health, she has been an active advocate for clinical standards and evidence-based policy and continues to serve on various hospital committees and community initiatives.

    Lake Lanier Islands Development Authority

    Daniel Dooley and Lauren Talley were reappointed.

    Georgia Rural Development Council

    Robert “Bob” Ray, Jr. is managing member of Ray Family Farms, LLC, where he and his siblings continue six generations and over 200 years of family farming, now focused on pecan production and pine timber. Before returning full-time to agriculture, Ray served for 15 years as President and CEO of Flint Energies. Ray’s public service includes his tenure as Assistant Secretary of State and Chief Operating Officer under Secretary of State Cathy Cox, where he directed agency operations and intergovernmental affairs. Earlier in his career, he was legislative director for the Georgia Farm Bureau Federation and also worked as a corporate lending officer with NCNB National Bank. He holds a bachelor’s in finance from the University of Georgia’s Terry College of Business. Ray has served in leadership roles with Georgia EMC, Green Power EMC, GRESCO, and Leadership Georgia, and remains active in agricultural and community organizations statewide.

    Georgia Commission on the Holocaust

    Jon Barry is President and Founder of Spectrum Maintenance Services and leads the company’s marketing and growth strategies. His career in commercial real estate spans four decades, including extensive experience in all aspects of brokerage and property management. Initially formed to support Barry’s shopping center management platform, SMS has grown to become Atlanta’s leading full-service property maintenance company. Barry previously served on the Board of Advisors of the Kennesaw State University Entrepreneurship Center, is a member of CEO NetWeavers, and has served as mentor to numerous rising professionals.

    Georgia Ports Authority

    James Allgood, Jr., Leda Chong, and Doug Hertz were reappointed.

    Georgia Student Finance Commission Board of Commissioners

    John Loud, Sarah Hawthorne, Ed Pease, and David Perez were reappointed.

    State Board of Accountancy

    Emily Farrell and Todd Tolbert were reappointed.

    Carlton Hodges is a certified public accountant with more than four decades of experience in public accounting, specializing in tax compliance and audit services. He began his career in 1980 with SRLS, where he advanced to Tax Manager following a merger with Price Waterhouse. His practice focuses on business, individual, fiduciary, and nonprofit tax returns, as well as audit and accounting engagements in sectors such as construction, services, and government-assisted entities. Carlton holds Bachelor of Business Administration degrees in finance and accounting from Armstrong State College. He is a member of both the Georgia Society of CPAs and the American Institute of CPAs, and serves on the board and leadership council of the Georgia Society, where he also chairs the GSCPA Insurance Trust. His civic involvement includes prior service as a Pooler City Councilman, treasurer of the Savannah-Chatham MPC, and leadership roles with the Armstrong Foundation and Rotary Club of Savannah West.

    State Board of Registration for Professional Engineers and Land Surveyors

    Trent Turk was reappointed.

    Board of Commissioners of the Sheriffs’ Retirement Fund of Georgia

    Billy Hancock and Dan Kilgore were reappointed.

    Georgia Sports Hall of Fame Authority

    Bill Shanks and Earl Wright were reappointed.

    Phil Schaefer is an award-winning sportscaster whose career spans more than five decades across basketball, football, baseball, and golf. He was the voice of UGA basketball for 17 years, called Atlanta Hawks games for five seasons, and served as a CBS Radio broadcaster for the NCAA Tournament for 20 years. In football, he spent 16 years as UGA’s color commentator, 10 years as the voice of the Peach Bowl, and 20 years as public address announcer for the Atlanta Falcons. Schaefer also covered the Braves for 39 years and the Masters Tournament for 55 consecutive years, earning the Masters Major Achievement Award in 2010. A three-time Georgia Sportscaster of the Year, Schaefer held leadership roles at WSB Radio and later served as Athletic Coordinator for the DeKalb County School System. He is a member of the Georgia Radio Hall of Fame and the Georgia Sports Hall of Fame, and has received over 40 national and regional journalism awards, including a Peabody. He holds degrees from Ohio State University and Georgia State University and is the author of Sins of a Southern Sportscaster.

    Board of Behavioral Health and Developmental Disabilities

    Deb Bailey, Amanda Owens, Bill Slaughter, Jean Sumner, and Jimmy Thomas were reappointed.

    Georgia Behavior Analyst Licensing Board

    Margaret Molony and Robin Osborne were reappointed.

    Georgia Public Telecommunications Commission

    Greg Garrett and Mary Ellen Imlay were reappointed.

    Stephen Lawson is a principal in Dentons’ Regulatory, Public Policy, and Government Affairs practice in Atlanta, with nearly 15 years of experience in public affairs, communications, and political strategy. He has advised Fortune 500 companies, nonprofits, trade associations, and elected officials on complex issues including policy strategy, crisis management, media relations, and advocacy. Prior to joining Dentons, Lawson was president of Full Focus Communications, a public affairs firm based in Atlanta. He has served in senior advisory roles for high-profile public officials, including Florida Governors Rick Scott and Ron DeSantis, and in Georgia for Lieutenant Governor Burt Jones, Agriculture Commissioner Tyler Harper, Congressman Mike Collins, and Speaker of the House Jon Burns.

    George Levert is a retired venture capitalist with more than two decades of experience in technology investment. He was a Founding Partner of Kinetic Ventures, where he led investments in telecommunications, network automation, and internet technologies. He served on the boards of more than a dozen venture-backed companies, including Metricom, Pathfire, and Proficient Networks. Prior to his career in venture capital, he held roles with Oglethorpe Power Corporation, Accenture, Boeing, and the U.S. Navy Civil Engineer Corps during the Vietnam War. Levert holds a B.S. in electrical engineering from Louisiana Tech University and an M.S. in management from Georgia Tech. He has served on numerous civic and nonprofit boards, including the Georgia Tech Foundation, Catholic Charities of Atlanta, the Atlanta Opera, and the American Red Cross. He is also a former board member of the Smithsonian National Museum of African Art and the Museum of the American Indian. Levert has endowed multiple scholarships and leadership awards and remains active in philanthropic, educational, and faith-based organizations. He and his wife, Dale, live in Atlanta and have two sons and two granddaughters.

    Savannah-Georgia Convention Center Authority

    Bert Brantley, Martin Miller, and Pritpal Singh were reappointed.

    Board of Human Services

    Lisa Hamilton, Scott Johnson, and Jack Williams were reappointed.

    Criminal Justice Coordinating Council

    Nancy Bills, Denise Downer-McKinney, Ron Freeman, Scotty Hancock, and Joe Hood were reappointed.

    Board of Public Health

    James Curran, Lucky Jain, Mitch Rodriguez, Ryan Shin, and T.E. Valliere-White were reappointed.

    Professional Standards Commission

    Angela Byrne has over 11 years of teaching experience in public and private schools. She currently teaches ESOL to K–6 students at Anna K. Davie Elementary in Rome City Schools, where she has served for the past six years. Her previous roles include teaching kindergarten, fourth, and fifth grade. She holds certifications in Elementary Education and Middle Grades Math and Science, with endorsements in ESOL and Online Teaching. She has received the Rome City Schools Central Office Support Employee of the Year and the Anna K. Davie Star Teacher Award. Byrne lives in Rome, Georgia, with her husband, Lewis, and their three children.

    Christy Edwards is an elementary educator with 14 years of experience in the Hall County School System. She currently serves as the Language Lab Teacher at Tadmore Elementary, focusing on data-driven instruction and student performance. She previously taught second, fourth, and fifth grades, as well as Early Intervention Program (EIP) support. She holds a B.S. in early childhood education from the University of North Georgia and an ESOL endorsement from Pioneer RESA. Edwards has served as a Leadership Team member, RTI representative, and professional learning facilitator.

    Zach Miller is a certified elementary educator currently teaching reading, science, and social studies at Roan School in Dalton. He holds a Bachelor of Science in early childhood education from Dalton State College and is certified in Early Childhood Education (P-5), with endorsements in ESOL and K–5 Mathematics. Named Teacher of the Year at Roan School in 2025, Miller focuses on a student-centered approach that integrates project-based learning and relationship-building to drive academic success. He founded the District Elementary Soccer Tournament and mentors students through Soccer for Success. He also leads Roan’s Soccer and Disc Golf Clubs, coordinates the Social Studies Bee, and partners with local nonprofits to support families in need. Miller is active in his church, serving as vice chairman of the deacons at Fellowship Bible Church and leading the soccer portion of Grace Presbyterian Church’s summer sports camp.

    State Rehabilitation Council

    Jo Ellen Hancock is a long-serving advocate and leader in the fields of special education, behavioral health, and community engagement. Since 2005, she has served as the parent mentor for special education with the Cherokee County School District, supporting families and fostering collaboration between schools and parents of students with disabilities. She holds multiple leadership roles across state and local behavioral health organizations, including chair of the Statewide Leadership Council and immediate past chair of the Region 1 Advisory Council for the Georgia Department of Behavioral Health and Developmental Disabilities (DBHDD). She also serves on the Georgia Behavioral Health Planning and Advisory Council and the Behavioral Health Services Coalition. Hancock is a certified peer specialist – parent and currently chairs the Cherokee County Local Interagency Planning Team (LIPT), where she has led efforts to coordinate services for children with complex needs since 2018. She serves on the advisory board for NAMI Georgia and is communications chair for the Holly Springs Optimist Club.

    Charity Roberts assumed the position of State Director (IDEA) for the Office of Federal Programs Division for Exceptional Children on January 1, 2025. She is a quadruple Eagle from Georgia Southern University, obtaining her bachelor’s and master’s degrees in special education. She completed a specialist and doctorate degree in educational leadership. She is certified in multiple fields within general and special education, such as elementary education, reading (P-8), special education preschool, physical and health disabilities, and P-12 special education adaptive and general curriculum. Roberts has over 30 years of experience in special education instruction and leadership in a variety of roles. After serving as a special education teacher, she became a district director of special education. From there, Roberts provided leadership support as a GLRS Director for twelve years before joining the Georgia Department of Education Office of Rural Education and Innovation.

    Board of Community Supervision

    Jimmy Kitchens and Steve Queen were reappointed.

    Judicial Legal Defense Fund Commission

    Christine Hayes serves as Deputy Executive Counsel in the Office of Governor Brian P. Kemp. Prior to joining the Governor’s staff, she was director of governmental affairs for the State Bar of Georgia, where she worked on a variety of legislative issues that affect the judiciary and the legal profession. She also held roles at the Judicial Council/Administrative Office of the Courts, Georgia General Assembly, and as an associate at Fields Howell where she focused on insurance coverage issues and related litigation. Hayes holds a bachelor’s degree in political science from the University of Florida and a law degree from Emory University. She and her husband, Jonathan, live in Atlanta with their two daughters.

    State Board of Long-term Care Facility Administrators

    Timothy Bush and Laura Cayce were reappointed.

    Suzanne Gerhardt serves as Senior Vice President of Health Services at PruittHealth, Inc., where she oversees skilled nursing center operations across four states. With a career in long-term care that began in 1983, she brings decades of hands-on experience in healthcare management, including roles in business operations, social services, admissions, and auditing. Gerhardt became a licensed Nursing Home Administrator in 1997 and has since managed multiple facilities and regional operations. She is known for her focus on regulatory compliance, operational efficiency, and improving patient outcomes. In addition to her leadership at PruittHealth, she has served in various roles with the Georgia Health Care Association, including Chair of the Board and, currently, as immediate past chair.

    Donna Sant is a public policy professional with extensive experience in political organizing, campaign operations, and grassroots leadership. She served as Chairman of the Houston County Republican Party from 2018 to 2024 and has held multiple roles within the Georgia Republican Party, including State Committee Member and County Vice Chair. She has led volunteer efforts, managed election headquarters, coordinated large-scale events, and served as a liaison between voters and candidates. Sant holds a master’s in public policy from Liberty University and a B.F.A. in TV/Film production from Valdosta State College. A graduate of Republican Leadership for Georgia, she is also a recipient of the Ted & Barbara Waddle Award of Excellence. She lives in Elko, Georgia, with her husband. They have three adult children. Sant will serve as the consumer member on the State Board of Long-term Care Facility Administrators.

    Board of Trustees of the Teachers Retirement System of Georgia

    Mary Elizabeth Davis is the Superintendent of Cherokee County Schools, serving 42,000 students. She has spent nearly 20 years in Georgia public education, holding leadership roles in four school districts. Prior to her current role, she served as Superintendent of Henry County Schools for nearly seven years, where she led improvements in operational systems, financial management, and student outcomes. Her previous roles include Chief Academic Officer in Cobb County and Assistant Superintendent for Curriculum and Instruction in Gwinnett County. She began her career as a chemistry teacher and coach in Fairfax County, Virginia. Davis was named one of District Administration’s 100 most influential education leaders in 2024 and is a former finalist for Georgia Superintendent of the Year. She holds a chemistry degree from Messiah College and a Ph.D. in Education Policy from Georgia State University. She lives in Canton, Georgia with her husband and two children.

    Board of Juvenile Justice

    Lisa Colbert was reappointed.

    State Board of Veterinary Medicine

    Jessica Sewell was reappointed.

    Georgia Opioid Settlement Advisory Commission

    Trey Bennett is the general counsel and grants division director for the Georgia Governor’s Office of Planning and Budget. A seasoned attorney and public policy advisor, Bennett has over a decade of legal and governmental experience, including past service as deputy executive counsel to Governor Brian Kemp. He oversees the ethical execution of billions of dollars in federal grant funding, advises on statewide emergency responses, and helps shape key legislation across multiple sectors. Bennett also has substantial courtroom experience, having served as both a criminal prosecutor and a defense attorney in Northeast Georgia. He holds a J.D. from the University of Georgia School of Law and lives in Hoschton, Georgia, with his wife, Katherine, and their four children.

    Council for the Arts- Chair

    Colt Chambers was reappointed.

    Board of Commissioners of the Superior Court Clerks’ Retirement Fund of Georgia

    Timothy Harper, Linda Hays, Daniel Jordan, Michael King, and Rhett Walker were reappointed.

    Georgia Public Service Commission Advisory Committee

    Jeff Jacques is a civil engineering professional with over 35 years of experience in transportation and utility coordination. He began his career with the Georgia Department of Transportation in 1983 as a civil engineer co-op and held various roles over a 20 year tenure, including district utilities engineer and area maintenance engineer. Since 2007, he has served as worksite utility coordination supervisor and utility coordination manager with CWM. Jacques is actively involved in the Georgia Utility Coordination Council, Georgia 811 Excavator Advisory Council, GHCA Utilities Task Force, and the GUCC Legislative Committee. He also served Franklin County as a Republican member of the Board of Commissioners from 2002 to 2018 and as Chairman from 2023 to 2024. A graduate of Emmanuel College and Southern Tech, Jacques resides in Franklin County with his wife, Christy. They have three adult children, and he is a member of Liberty Baptist Church in Carnesville.

    Disability Services Ombudsman Medical Review Group

    George Leach is an Assistant Professor of Emergency Medicine at Emory University School of Medicine and an attending physician at Grady Memorial Hospital. He has over 15 years of clinical and academic experience, with a focus on quality improvement, systems-based practice, and medical education. Leach completed his undergraduate studies at the University of North Carolina and earned his medical degree from Emory University, where he also completed his emergency medicine residency and served as chief resident. His academic contributions include developing a national curriculum for advanced emergency medicine learners and leading peer review process improvements at Grady. He is a member of multiple professional organizations, including the American College of Emergency Physicians and the Society for Academic Emergency Medicine. Dr. Leach has received numerous teaching awards and is actively involved in resident education, mentorship, and committee leadership at Emory and Grady.

    Georgia Environmental Finance Authority

    Jimmy Andrews and Travis Turner were reappointed.

    Georgia Child Support Commission

    Ben Land was reappointed.

    Behavioral Health Reform and Innovation Commission

    Kevin Tanner was reappointed as Chairman.

    Karen Bailey, Melanie Dallas, Jason Downey, Nora Haynes, Miriam Shook, Sarah Vinson, DeJuan White, and Michael Yochelson were reappointed.

    DeAnna Julian serves as Chief Executive Officer of the Frazer Center, a nonprofit providing inclusive early childhood, adult, and behavioral health services for individuals with intellectual and developmental disabilities (IDD). She also serves as President of the Service Providers Association for Developmental Disabilities (SPADD), where she works to strengthen Georgia’s IDD service network through policy engagement and provider collaboration. A former special education teacher, Julian holds certifications in special education, early childhood, and physical education, along with a master’s degree in education and transition services from the University of Kansas. She previously served as Executive Director of The Arc of Southwest Georgia, leading efforts to expand access and advance systemic reform. With more than 20 years of leadership in education and disability services, Julian has been recognized with honors including the Annette Bowling Advocacy Award and Albany’s Top 40 Under 40. She lives in Atlanta with her husband, Steve, and their two adult children.

    Carey Parrott, Sr. is the founder and CEO of Parrott Counseling Services, LLC, with over two decades of experience in addiction and mental health counseling. A licensed clinical social worker, master addictions counselor, certified clinical supervisor, and certified peer specialist for addictive diseases, he provides direct care and specialized services to individuals, families, and justice-involved populations, including re-entry and mandated clients. Parrott is a two-time graduate of the University of Georgia, earning a B.S. in psychology and an M.S.W. He later earned a doctorate in clinical social work leadership from Tulane University. His professional background includes service as caregiver support coordinator at the U.S. Department of Veterans Affairs, where he supported veterans and families navigating the challenges of mental illness and substance use. He has also served as a consultant to the Georgia Department of Behavioral Health and Developmental Disabilities, providing clinical supervision and workforce development for addiction counselors statewide. Parrott began his career working in residential treatment settings and community behavioral health programs. He is recognized for his collaborative, personalized approach and his ongoing commitment to supporting recovery and resilience in the Athens community and beyond.

    Child Advocate Advisory Committee

    Andre Blanchard and Jay Watkins were reappointed.

    Georgia Hotel Motel Tax Performance Review Board

    David Dukes was reappointed. 

    MIL OSI USA News

  • MIL-OSI: Spryker Wins 2025 Silver Stevie® Award for Technology Excellence in E-Commerce

    Source: GlobeNewswire (MIL-OSI)

    BERLIN and NEW YORK, July 31, 2025 (GLOBE NEWSWIRE) — Spryker, the leading composable commerce platform for global enterprises, today announced it has been named the winner of the Silver Stevie® Award in the 2025 Stevie Awards for Technology Excellence. This recognition highlights Spryker’s continued achievements in the commerce industry transforming the enterprise landscape from rigid legacy platforms to agile ecosystems. With its composable architecture, Spryker empowers businesses to adapt faster, build smarter and stay ahead of evolving buyer expectations.

    Spryker has become the trusted commerce engine of choice for global innovators, supporting advanced digital transformation across sectors like healthcare, manufacturing, automotive and distribution. Its composable approach allows enterprises to build custom commerce ecosystems tailored to their unique business needs.

    “From the beginning, Spryker set out to redefine how enterprises approach digital commerce by introducing a truly composable platform,” said Boris Lokschin, Co-founder and CEO at Spryker. “As businesses face growing pressure to innovate faster and meet ever-changing customer demands, this recognition affirms our commitment to building flexible, future-proof solutions. We’re proud to earn this validation of our technology and our team’s hard work.”

    The Stevie Awards are the world’s premier business awards and honor global excellence in business. The Stevie Awards for Technology Excellence recognize the remarkable achievements of individuals, teams, and organizations that are shaping the future of technology across all industry sectors.

    This is the latest in a series of recognitions that Spryker and its customers have received from industry analysts and awards including the Paradigm B2B Enterprise CombineB2B E-Commerce Association Awards, and RetailTech Breakthrough.

    About Spryker
    Spryker is the leading global composable commerce platform for enterprises with complex use cases to enable growth, innovation, and differentiation. Designed specifically for sophisticated transactional businesses, Spryker’s easy-to-use, headless, API-first model enables businesses to adapt, scale, and quickly go to market while facilitating faster time-to-value throughout their digital transformation journey. As a global platform leader for B2B and B2C Enterprise Marketplaces, IoT Commerce, and Unified Commerce, Spryker has empowered 150+ global enterprise customers worldwide and is trusted by brands such as ALDI, Siemens, ZF Friedrichshafen, and Ricoh. Spryker is a privately held technology company headquartered in Berlin and New York backed by world class investors such as TCV, One Peak, Project A, Cherry Ventures, and Maverick Capital. Learn more at spryker.com and follow Spryker on LinkedIn and X.

    The MIL Network

  • MIL-OSI Canada: Vicky Eatrides and Rachelle Frenette to CIPPIC Summer Speaker Series

    Source: Government of Canada News

    “Regulatory Riverbanks: Helping Build Canada’s Telecommunications Future”

    Ottawa, Ontario 
    July 30, 2025

    Vicky Eatrides, Chairperson and Chief Executive Officer 
    Canadian Radio-television and Telecommunications Commission (CRTC)

    Rachelle Frenette, General Counsel and Executive Director, Legal Services (CRTC)

    Check against delivery

    Introduction

    Good afternoon, everyone, and thank you, Matt, for the warm welcome.

    Before we begin, I would like to acknowledge that we are gathered on the traditional unceded territory of the Algonquin Anishinaabeg people. Let us take a moment to thank the Anishinaabeg people and to pay respect to their Elders.

    Thank you for inviting us to speak with you today. It is great to be here and to see a number of familiar faces in the room. And a warm hello to everyone joining us online.

    On behalf of the CRTC, I want to thank CIPPIC for your ongoing work to engage students and the academic community in meaningful conversations about Canadian telecommunications policy. By leading various advocacy and research-driven initiatives, CIPPIC continues to make a vital contribution to shaping a more equitable, transparent, and accountable digital landscape.

    And your work is more important than ever.

    Telecommunications shape how we live — how we learn, how we work, how we access healthcare, and how we stay close to loved ones. That is why listening to Canadians grounds telecommunications policy in the lived realities of communities across the country.

    When I think about our role in telecommunications policy, I am reminded of something the Canadian business leader Bonnie Brooks once said: “we build the riverbanks and let the water flow freely.” I think that this is a fitting metaphor for the work of many regulators.  

    At the CRTC, we are building riverbanks in the form of regulatory frameworks that support a healthy and competitive telecommunications industry. And our frameworks are not just built to hold the current — they are meant to guide it.

    We know that effective regulatory policy starts with a clear sense of purpose. So that is where we will start today: our mandate and our place within the broader framework of telecommunications policy.

    Then, let us talk about the CRTC’s ongoing efforts to help connect all Canadians to high-quality Internet and cellphone services. 

    And finally, we will delve into the CRTC’s work on affordability, investment, and consumer protections.

    CRTC mandate

    So let us begin with a quick overview of the CRTC and our mandate, and then briefly touch on the landscape of telecommunications regulation beyond the CRTC.

    Starting with the CRTC.

    The Canadian Radio-television and Telecommunications Commission Act establishes the CRTC as a commission consisting of members appointed by the Governor in Council.

    There are currently nine members — a Chairperson, a Vice-Chairperson for Telecommunications, a Vice-Chairperson for Broadcasting, and six regional Commissioners who are located across the country.

    Commissioners have a team of expert staff supporting them — many of whom have spent their entire careers studying and analyzing the telecommunications and broadcasting industries in both the public and private sectors.

    We have colleagues with consumer, social policy, legal, and other diverse expertise, who help Commissioners make informed decisions that benefit Canadians.

    Now let us turn to our mandate. As you may know, the CRTC is an independent quasi-judicial tribunal that regulates the Canadian communications sector in the public interest. We hold public consultations on telecommunications and broadcasting matters and make decisions based on the record.

    This means taking into account a number of different — and often competing — interests as the Commission makes its decisions. These decisions create regulatory frameworks that guide how telecommunications service providers interact with Canadians and with each other.

    The CRTC regulates the telecommunications industry through the Telecommunications Act. Our decisions are guided by the nine telecommunications policy objectives outlined in the Act. These objectives, established by Parliament, range from foundational goals — such as ensuring reliable, affordable, and high-quality telecommunications services — to more targeted aims, like promoting telecommunications research and development in Canada.

    In the broader landscape, telecommunications regulation in Canada is a shared responsibility. In addition to the CRTC, the Minister of Industry holds key regulatory responsibilities under both the Telecommunications Act and the Radiocommunication Act.

    Most notably, the Minister oversees the management of Canada’s wireless spectrum, which is essential for delivering cellphone services and over-the-air broadcasting.

    I mentioned the policy objectives in the Act earlier. These can be supplemented by Government policy directions to the CRTC. Together, the legislation and policy directions serve as guiding principles the CRTC must take into account when making its decisions.

    The current policy direction was issued in 2023. It contains a number of key themes that drive the CRTC’s policy work, such as using regulation to promote competition, affordability, consumer interests, and innovation. Other parts of the policy direction guide the CRTC on how it should do that work, like asking us to ensure that any measures we impose are efficient and proportionate to their purpose.

    Our frameworks are informed by the broader landscape of telecommunications regulation — by Parliament through the objectives in the Act, by the government through the policy direction, and, importantly, by the evidentiary records we build during our public consultations.

    We value diverse perspectives because each voice contributes to the record and directly influences the decisions the Commission makes. That is why organizations like CIPPIC are essential — you help ensure that the interests of Canadians are heard and reflected in our policies.

    I think that is a good segue to the CRTC’s regulatory work.

    Connecting Canadians

    Let us start with the CRTC’s ongoing efforts to connect Canadians to high-quality Internet and cellphone services.

    Most of us here today have had access to high-speed Internet and the latest cellphone technology for many years. We have come a long way, but there is still more work to do to make Internet access available to everyone across Canada.

    Our latest public information shows that about 750,000 Canadian households still lack access to unlimited Internet plans at speeds of at least 50 megabits per second download and 10 megabits per second upload. While the number of households that lack access continues to drop, we know that rural, remote, and Indigenous communities are disproportionately affected.

    An Internet user in the North told the Competition Bureau during their market study on broadband that this “results in feelings of isolation and as though we aren’t a part of Canada.”

    This is a powerful reminder of the impact a lack of connectivity can have, including on our sense of belonging.

    Let me share another example.

    We know that there are communities in Canada that do not have a high school, and where local education can end at grade 9 or 10. This was the case for Angelina in the Northwest Territories, whose story was reported in the media. Angelina had to move 200 kilometres to Yellowknife to attend in-person high school classes. Most of us cannot imagine having had to leave our families and friends at age 15 to go to school.

    So, what does this have to do with connectivity?

    Well, for students like Angelina who do not have a local school, online schooling can be an alternative. But online schooling is only an option for students who have access to high-quality Internet.

    In 2019, the CRTC launched its Broadband Fund as part of a government-wide effort to help connect rural, remote, and Indigenous communities across Canada.

    To date, the CRTC has allocated over $750 million to projects that provide Internet or cellphone services to nearly 50,000 homes in more than 290 communities. The Broadband Fund has also helped improve cellphone service on more than 630 km of major road and build over 5,500 km of fibre across the country.

    Affordability and investment

    While ensuring that Canadians are connected is an important part of the CRTC’s role, we also work to keep Internet and cellphone services affordable and to preserve incentives for providers to invest in reliable, high-quality networks.

    Our Vice-Chair of Telecommunications, Adam Scott, recently described this work as the “Goldilocks problem” in telecommunications policy: if prices are too high, affordability suffers; if prices are too low, investment is discouraged, risking lower service quality and reduced connectivity.

    Solving this issue starts with listening.

    We have heard firsthand the struggles Canadians face affording their telecommunications services. During our public hearing on high-speed Internet, we learned about an individual named Sandy who lived in British Columbia and whose relatives spent more on telecommunications than on food. And similarly, we heard about Brigitte in Ontario, for whom the Internet was a vital lifeline. It was so essential that she had to cut back on other things to afford it.

    These stories show that making sure Canadians have affordable telecommunications is as important as making sure they are connected through programs like the CRTC’s Broadband Fund.

    While Statistics Canada data shows that Internet and cellphone prices are trending down, our latest public opinion research shows that people feel these services have become less affordable over the past year.

    On the other side of the “Goldilocks problem,” we know that building networks is expensive and that fair returns take time. We also know that in remote areas, connecting a single home can cost telecommunications companies several thousands of dollars.

    So how are we tackling the “Goldilocks problem”?

    We are taking action to encourage competition, while maintaining incentives for companies to invest.

    Let us start with cellphone services.

    The CRTC’s rules let smaller regional cellphone providers offer service across Canada by using the networks of larger companies. These rules are helping to provide Canadians with more options than we had before. They are also helping to increase competition between small and large companies, leading to more affordable services.

    Smaller providers are able to reach new areas they could not serve before. But to make sure they keep investing in their own networks, access to the networks of larger companies is only temporary — they must finish building their own infrastructure by 2030.

    We are also taking action to improve competition for Internet services. Over the past few years, Canadians have had fewer options when it comes to choosing an Internet provider. That is why, last August, the CRTC began allowing companies to offer Internet plans using the fibre networks of Canada’s largest telephone companies in areas where those companies do not have their own networks.

    We also put measures in place to make sure companies keep investing in high-quality networks. That includes setting fair rates so large companies are paid for the cost of building fibre networks, limiting where they can use the new rules so that they keep building their own networks, and delaying competitive access to brand-new fibre until 2029.

    Now that these frameworks are in place, our next steps are to keep a close eye on how they are working and to make changes if needed.

    Consumer protections

    That brings us to the last policy area we will cover today — consumer protections.

    We have heard stories of Canadians facing unexpected increases in their monthly bills. We have also heard of Canadians who want to take advantage of a better deal in the market only to be faced with high fees for cancelling their existing service. And we know that Canadians need simple and convenient self-service mechanisms to modify, right-size, or cancel their plans.

    As part of our mandate to protect and empower consumers in their dealings with service providers, the CRTC put in place codes of conduct that help ensure that Canadians have clear contracts, are not surprised by higher bills, and have the information they need to make the best choices about their Internet, cellphone, and TV services.

    Last year, the CRTC launched a comprehensive Consumer Protections Action Plan to modernize our approach to better serve Canadians. And to bring this Action Plan to life, we initiated four public proceedings.

    The first proceeding focuses on preventing bill shock by ensuring Canadians receive advance notice when their discounts or service plans are about to expire.

    The second aims to limit any fees Canadians might face when cancelling or changing plans.

    The third explores how we can expand self-serve options, so that it is easier to find and choose the best Internet and cellphone plans.

    And the fourth proceeding, which was the subject of a public hearing just last month, aims to make Internet plan details clearer and more consistent.

    This is a crucial area of our work that will continue to be a focus for the CRTC.

    In the coming weeks, we will launch a consultation to consider additional consumer protections, including clearer communications or refunds, when Canadians experience a service outage. And looking out further, we plan to combine our consumer protection codes into a single code that is more clear, simple, and consistent across all services. So, stay tuned.

    Conclusion

    Thank you again for welcoming us today.

    If there is one message we hope you take away, it is this: telecommunications policy is not just about towers or cables — it is about people, and it is about building a healthy industry that serves them well.

    At the CRTC, we know that we do not have all the answers. But we do know this: better policy happens when we listen — to individuals, to businesses, and to organizations like CIPPIC that help bring diverse voices into the conversation.

    So here is where you come in.

    Join our public consultations. Share your stories. Challenge our thinking.

    Because at the end of the day, we know that the most effective regulatory riverbanks are the ones we build together.

    Thank you.

    MIL OSI Canada News

  • MIL-OSI: FirstBank’s Strategy Delivers in Q2 2025 with Financial and Customer Wins

    Source: GlobeNewswire (MIL-OSI)

    LAKEWOOD, Colo., July 31, 2025 (GLOBE NEWSWIRE) — FirstBank, one of the nation’s largest privately held banks with a focus on “banking for good,” announced its 2025 second-quarter summary of the company’s holdings and activities. The bank reported the following quarter-end results:

    • Net income was $151.7 million
    • Total deposits were $23.4 billion
    • Net loans were $15.8 billion
    • Total assets were $26.8 billion

    During the second quarter, FirstBank earned the No. 1 ranking in customer satisfaction in the Southwest region for the fifth consecutive year, according to a national retail banking study. The study evaluated customer satisfaction across several key categories, account offerings, digital channels, and overall experience.

    “We’re honored to once again be recognized as a leader in customer satisfaction, which is a direct reflection of the trust our customers place in us,” said Kevin Classen, CEO of FirstBank.  “We also experienced a sizable year-over-year increase in net income from $96.5 million in Q2 2024 to $151.7 million in Q2 2025, demonstrating our commitment to long-term sustainable growth. As we look ahead, we’re focused on deepening our community impact, expanding support for local businesses, and driving innovation that helps customers and local economies thrive.”

    To promote its small business customers and give back to communities, FirstBank launched its “Our Cube Means Business” campaign. From July 11 to September 5, the bank’s signature orange cube will pop up at select businesses and storefronts throughout Colorado every Friday, providing exclusive giveaways. 

    In addition, FirstBank announced its continued partnership with the Colorado Chamber of Commerce on the Coolest Thing Made in Colorado contest, which works to celebrate and strengthen local manufacturers. 

    About FirstBank

    FirstBank began providing banking services in 1963. Today, it’s known as an industry leader in digital banking. It has grown to be one of the top-performing and largest privately held banks in the United States. FirstBank offers a variety of consumer deposit accounts, home equity loans, mortgages, rental property loans, and a full range of commercial banking services, including business financing, commercial real estate loans, treasury management, and more. Since 2000, FirstBank has been recognized as a top corporate philanthropist, contributing more than $90 million and thousands of volunteer hours to charitable organizations. The company is also unique in that a large portion of its stock is owned by management and employees, giving employees a financial stake in the bank’s success through its Employee Stock Ownership Program. For more information, visit www.efirstbank.com. Member FDIC.

    Media Contact
    Cody Wheeler
    (303) 228-6986 
    1stbank@wearecsg.com

    The MIL Network

  • MIL-OSI United Kingdom: Business leaders back the UK Government’s Small Business Plan

    Source: United Kingdom – Executive Government & Departments

    Press release

    Business leaders back the UK Government’s Small Business Plan

    Business leaders from across business representative organisations, small and large businesses have endorsed the launch of the UK Government’s new Small Business Plan.

    Business leaders from across business representative organisations, small and large businesses have endorsed the launch of the UK Government’s new Small Business Plan.

    Small businesses across the UK will benefit from the most comprehensive support package in a generation. From faster payments and easier access to finance, to cutting red tape and launching a new Business Growth Service, we’re backing businesses to thrive.

    Business Groups 

    Policy Chair of the Federation of Small Businesses (FSB), Tina McKenzie, said: 

    Making sure businesses are paid on time, that our high streets thrive, and creating conditions in which everyone can start and succeed in business are crucial priorities for small businesses, communities and the economy. It’s very welcome that the Prime Minister has today made them his Government’s priorities. 

    I’m pleased that FSB and the Government have been able to work in lockstep on the bold and ambitious measures needed to tackle the scourge of late payment through legislation, and other pro-growth, pro-small business measures.  

    Today’s plan is an encouraging commitment from the Government to take the side of small businesses in the great growth challenge ahead. 

    Michelle Ovens CBE, Founder, Small Business Britain, said:  

    I am thrilled to see the Small Business Plan launched today, putting the nation’s smallest businesses at the heart of Government strategy where it should be. These job creators and economy builders will benefit from a huge boost to funding through the British Business Bank, a boost to skills, support for high streets and a long hoped for legislative backing for getting paid on time. We will not see economic growth without small business growth, so I am eager to get on and help the Government deliver on this agenda – and help small businesses regardless of their background start, grow and thrive. 

    Daniel Woolf, Enterprise Nation’s Head of Policy & Government Relations, said: 

    We welcome the Government’s new Small Business Plan as a serious attempt to reset the relationship between small firms and Government. Many of the commitments like digital adoption and access to affordable finance reflect the everyday challenges our members experience, and several directly align with recommendations Enterprise Nation has set out in recent policy work.   

    We’re particularly pleased to see a comprehensive approach to late payment reform, including shorter payment terms and stronger enforcement through the Small Business Commissioner. 90-day payment terms stop small businesses from investing and growing. 

    This is a strong foundation. Enterprise Nation looks forward to working with government to help ensure these policy ambitions turn into measurable outcomes for small businesses across the UK.  

    Philip Salter, Founder of The Entrepreneurs Network, said: 

    Small businesses are where opportunity begins – new jobs, new skills and new ideas. Practical help, such as being paid on time, easy access to advice and finance, and less administrative burden, makes a real difference. 

    In a world where online banking, accounting software and e-invoicing exist, it’s completely unacceptable that so many burgeoning startups see their growth stall due to late payments. At its worst, they can send perfectly good businesses to the wall – leaving Britain’s economy less dynamic and competitive. Founders in our network will hope the measures outlined today mean it is the beginning of the end for late payments.  

    Fiona Graham, Chief Operating Officer for Family Business UK said:  

    Family Business UK welcomes today’s publication of the Small Business Plan as a positive step towards creating a fairer and more resilient environment for small family-run firms.  We are pleased to see many of the areas highlighted by our members addressed in this plan. 

    Family businesses make up over 85% of all private sector firms in the UK and are deeply rooted in their communities. But like many small businesses, they are held back by red tape and limited access to finance and support – challenges that this plan rightly seeks to address. 

    The announcement of a Business Growth Service will give small family-run businesses the tools they need to grow, scale up and expand into international markets, as well as streamlining essential advice and support into one national platform. This will give small businesses peace of mind that support is readily available and easily accessible when they are looking to invest and grow. 

    We look forward to continuing to support small businesses as the initiatives in this plan are developed and rolled out.  We are also committed to working with DBT in the development of a future strategy to ensure that mid-sized businesses are also getting the bespoke support they need. 

    Liz Barclay, IoD Special Advisor for Small Business and Entrepreneurship, and former Small Business Commissioner, said: 

    We welcome this commitment to ensuring that small businesses are paid on time and that larger suppliers are prevented from imposing unfair contractual payment terms beyond 60 days. This will give small and micro firms the certainty they need to invest, increase productivity, and grow.   

    We look forward to working with the government as the legislation takes shape, ensuring that there are no unintended consequences for businesses.  

    Stephen Phipson, Chief Executive Officer, Make UK, said: 

    Manufacturers across the country will welcome the Government’s decisive action to tackle late payments. For too long, delayed invoices have drained cashflow, delayed innovation, and damaged businesses, particularly the thousands of small and medium-sized firms for whom late payments are one of the most consistent challenges to their survival and success. 

    Today’s announcement rightly recognises that supporting manufacturing SMEs is essential to unlocking wider economic growth. The introduction of the toughest late payment laws in the G7 sends a clear signal that poor payment practices will no longer be tolerated. 

    These reforms, combined with new powers for the Small Business Commissioner, will help create a culture of fairness and accountability across supply chains. Coupled with real enforcement, this Small Business Plan will give manufacturers the confidence and certainty they need to innovate, grow, and create even more high-skill, high-paying jobs in the UK. 

    Alan Vallance, ICAEW Chief Executive, said:  

    The UK’s economy is made up of small businesses, with 99 per cent of the total business population, two-fifths of all private sector employment and over half of the nation’s business turnover. Small businesses are key to growth, and it’s important that they can operate in the best environment to propel them into the business stars of the future, creating more growth, employment and prosperity for all parts of the UK. 

    Chartered accountants are central to this story. As trusted business advisers, they provide expertise and acumen to allow small businesses to thrive and scale up, and often set up small businesses of their own. About 80 per cent of chartered accountancy firms are small businesses themselves, employing four employees or fewer. 

    The publication of the Small Business Strategy is an important development to help small businesses realise their potential. With its ambition on entrepreneurship, business advice, late payments and export potential, as well as its close links to the UK Modern Industrial Strategy and Professional and Business Services Sector Plan, it is clear that chartered accountants will make a strong contribution to its success. 

    Kate Nicholls, Chair of UKHospitality, said:  

    We welcome the Government’s Small Business Plan and the steps that it has put forward to support SMEs across the UK. The wider measures announced today on late payments and access to additional finance sit alongside a raft of new licensing measures that will slash red tape and support the hospitality sector, making it easier to open and operate hospitality venues, create jobs and grow the economy. 

    I’m personally very happy to have worked with Government to move us toward a new and improved licensing system that includes modernised planning and licensing rules, hospitality zones, and protections for existing venues. These can provide a real boost to the nation’s pubs, bars, restaurants and hotels. 

    We’ve worked on some of these issues for more than two decades so we now need swift implementation, while we keep up the momentum on outstanding issues, to deliver a bold, long term plan for the high streets and hospitality. 

    Vicks Rodwell, Managing Director at IPSE, The Self-Employed Association, said: 

    Late payments can force freelancers out of business, but obscenely long payment terms for work can put just as much of a strain on the self-employed. It’s hugely encouraging that the Prime Minister is determined to tackle both these issues with the measures in today’s plan” 

    It’s not right that freelancers can fall behind on their own bills, and even into debt, whilst the money they’ve earned sits in a bank account for months on end. 

    By clamping down on late invoices and long payment terms, government can tear down one of the biggest barriers to growth for freelancers and sole traders. 

    Millie Kendall MBE, CEO of British Beauty Council, said:  

    The beauty industry – encompassing hair, beauty, nails, barbering, spa and wellness – is made up of 95% small businesses and 78% micro-businesses, contributing more than £30bn to the UK GDP. The British Beauty Council welcomes the Government’s Small Business Plan which sees policy-makers put our businesses first. For years, the beauty sector has faced unique challenges when it comes to growth, this plan is a much needed step towards ensuring our industry – which bolsters social mobility and opportunities for underrepresented communities – can sustain growth. 

    Small Businesses  

    Elizabeth Vega OBE DUniv, Group CEO, Informed Solutions: 

    This Small Business Plan is the strongest and clearest we’ve seen in over a decade. It is a compelling way forward for the UK’s economy. 

    The Strategy reflects a truly collegiate and collaborative effort between government, policy experts, and the over 1,000 SMEs that contributed. 

    Having advocated for SME policy that supports economic growth and resilience for over 15 years, it’s been a pleasure to work alongside Minister Gareth Thomas, DBT policy teams, and the Small Business Growth Forum to shape a strategy with clear aims, ambitious objectives, and a holistic integrated approach to policy development. 

    I’m excited to now turn the shared ambitions in this Strategy into action, helping realise the UK’s full economic potential through SME growth and international trade. 

    Simon Groom, CEO of MagnifyB, said:  

    MagnifyB welcomes the UK Government’s action to tackle late payments, which will give small businesses the cash flow stability they need to thrive. Alongside this, there is a clear need to provide micro and small businesses with far more than just a repository of information, including a practical digital toolset to strengthen their operations and improve their chances of long-term success. We hope that the new Small Business Commissioner can be instrumental in bringing together ideas and championing the initiatives needed to make this support a reality. 

    Julianne Ponan MBE, Founder of Creative Nature, a small business that exports top 14 Allergen Free Baking Mixes and Snacks to 16 countries, said:  

    I’m delighted to see the government’s new SME Strategy recognising the critical role small businesses play both at home and globally. 

    From tackling late payments to simplifying access to growth advice and support, these measures are a lifeline for SMEs like mine who often face disproportionate challenges with limited resources. 

    I’m especially encouraged by the commitment to reduce administrative burdens by 25% and improve access to finance both are major barriers to growth for underrepresented founders, including women and ethnic minority entrepreneurs. The focus on revitalising the high street, digital skills, and exporting support shows that the government is listening to the needs of small businesses. 

    Charlie Shaw, owner of Flock and Herd butchers, said: 

    We’re proud to pay every supplier on time and once we receive an invoice, so it’s fantastic to see the government put the Small Business Plan into place tackling the big issue of late payments. We believe this is a fair and honest way to conduct business. It gives us a clear and current understanding of how our business is performing. Our relationships with our suppliers have been amazing and truly beneficial to all parties. 

    Richard Marshall, Founder and CEO of Pall Mall Barbers, said: 

    Small businesses are the backbone of the UK economy — and they need access to affordable finance and a fairer tax system to plan and grow. That’s why I look forward to working with the Government to drive down costs on the high street, extend business rates relief, and improve access to finance so SMEs can invest, hire, and build with confidence.  

    Today’s announcement is about backing entrepreneurs with the tools they need to thrive — not just for today, but for the long term. 

    Large Businesses  

    Nick Mackenzie, CEO of Greene King and co-chair of the Licensing Taskforce commented on the licensing response published today. He said:  

    As an industry we welcome the licensing proposals and see this as a positive and necessary step towards updating a planning and licensing system that, for too long, has limited hospitality’s ability to drive economic growth across the UK. I thank the industry and the Taskforce for the serious and meaningful recommendations that we have put forward to bring these proposals to fruition.

    It’s encouraging to see how the Government has worked at pace to take forward the proposals, particularly in areas that matter the most, including the introduction of a new National Licensing Policy Framework.

    Whilst licencing reform won’t offset the significant layered cost of doing business that the industry bears, they form part of wider changes to back the sector, which will support in unlocking opportunities for pubs to further invest in growth across the country.

    Steve Hare, Chief Executive Officer at Sage, said:  

    Small businesses are the backbone of the UK economy – they drive growth, create jobs, and fuel innovation. But running a small business isn’t easy. From rising costs and late payments to time-consuming admin, the challenges are real and persistent. Today’s Strategy is a welcome step in the right direction. Giving small businesses better access to finance, helping them break into new markets, and supporting them to adopt the latest technology will go a long way in helping them grow and succeed. 

    Leigh Thomas, Vice President EMEA, Intuit, said:  

    Today’s Small Business Plan is a welcome and much needed initiative for entrepreneurs. Our data shows that with an average of £21,000 owed in unpaid invoices, more than half of our country’s small businesses are now facing cash flow pressures. These pressures can quickly escalate, forcing many small business owners to make difficult financial decisions to keep operations running. Improving payment practices will play a key role in strengthening small business stability, creating the conditions for growth. We look forward to collaborating on this to power prosperity for all. 

    James Holian, Head of Business Banking, NatWest, said:  

    We welcome the Government’s renewed focus on tackling late payments for small businesses. This is a long-standing challenge that we know can hold back growth and innovation, and NatWest is proud to have been recognised for several consecutive years by Good Business Pays for being a leading business in making fast payments to our suppliers.  

    As a leading lender to UK SMEs, we’re committed to playing our part—whether that’s through prompt payment practices, tailored financial support, or initiatives like our accelerator hubs – where this year we’re aiming to support 10,000 businesses for the first time. Small businesses are the backbone of the UK economy, and we’re proud to support them in building resilience and unlocking their full potential. 

    Tom Wood, Head of Business Banking, HSBC UK, said:  

    We welcome the additional support the Small Business Plan provides, SMEs are key to a strong and resilient economy and we must equip them with the tools to succeed at every stage of their growth journey. It is vital we all work together to deliver long-term, practical solutions, including more transparent and accessible financing to ensure long-term growth and economic stability. Recognising the challenges SMEs face, HSBC UK recently launched the Small Business Growth Programme, providing business owners with resources to help early-stage businesses grow with confidence. 

    Wider Civil Society Organisations 

    Terry Corby, Founder and CEO, Good Business Pays, said:  

    This is what we have been waiting for. The legislative changes the government are planning to tackle our late payment culture are a game-changer. It is no longer seen as good business practice to be making your suppliers wait for a long time to get paid. At Good Business Pays we have been asking for legislative action for five years and it’s great to see these changes to unfair practices being set out in laws. 

    Anthony Impey MBE, CEO of Be the Business, said:  

    A strategic approach is essential to unlock the huge potential of small and medium-sized businesses, and it’s key to driving the country’s productivity and growth. The Small Business Plan is an important step in achieving this.  

    Business Support Services 

    Nicki Clark, Chief Executive of UMi, said:  

    At UMi, we see first-hand the incredible impact small businesses have, but also the challenges they face on a day-to-day basis.  This Small Business Plan, including the launch of the Business Growth Service, is a positive step towards making it easier for small businesses to find and access the support and finance they need to survive and thrive.

    Updates to this page

    Published 31 July 2025

    MIL OSI United Kingdom

  • MIL-OSI: TAB Bank Q2 Loans Fund Growth for 218 Companies Totaling $66 Million

    Source: GlobeNewswire (MIL-OSI)

    OGDEN, Utah, July 31, 2025 (GLOBE NEWSWIRE) — TAB Bank funded growth for 218 companies in Q2 2025 with loans totaling $66 million. Companies signed with TAB Bank for working capital, cash flow management through factoring, equipment purchases and small business lines of credit. Businesses in the manufacturing, transportation, healthcare, food, fintech and toy/game industries selected TAB Bank as their financial partner.

    Highlights of some of the largest Q2 2025 deals include:

    • $8 million—A leader in global sourcing, supply chain management, manufacturing and nearshoring solutions in Ohio.
    • $5 million—Package Steel Systems, of Massachusetts, the premier builder of metal buildings in the Northeast.
    • $5 million—An exotic and collector car financing dealer in Utah.
    • $5 million—A toy, puzzle and gaming company based in California.
    • $2.5 million— Ryan Transportation, Inc., a Michigan-based truckload transportation provider.

    Additionally, in Q2, TAB Bank provided equipment financing to 140 companies, with a combined value of $15.2 million. Nine companies in the transportation sector—the core industry of the bank’s beginnings—received term loans and accounts receivable lines of credit ranging from $40,000 to $300,000. TAB also funded 55 small- to medium-sized businesses.

    “TAB Bank is a key financial partner, whether a company is looking for creative ways to manage cash flow or to leverage cash or assets to maximize growth,” said Justin Hatch, Chief Lending Officer at TAB Bank. “Our expertise in financing, along with our experience in many industries, allows us to take a comprehensive, creative and strategic view of the business goals and then structure the deal that best meets those needs. We are with our companies every step of the journey, even in some of their most difficult times.”

    The bank’s services include working capital, equipment financing, term loans, lines of credit and commercial real estate loans. TAB Bank’s specialists ensure each client is matched with the right financial product for their industry and growth stage. The bank supports businesses with stellar credit and those without, requiring alternative assessments. To determine creditworthiness, the bank considers various factors, such as income and operational history.

    For more information on TAB Bank’s capital financing and credit solutions, visit TABBank.com.

    About TAB Bank
    At TAB Bank, our mission is to unlock dreams with bold financial solutions that empower individuals and businesses nationwide. We are committed to building value in all we do through our innovative banking products.   Our dedication drives us to continuously improve, ensuring that we meet the evolving needs of our clients with excellence and agility. For over 25 years, we have remained steadfast in offering tailored, technology-enabled solutions designed to simplify and enhance the banking experience. 

    For more information about how we can help you achieve your financial dreams, visit www.TABBank.com.

    Contact Information:
    Trevor Morris
    Director of Marketing
    801-710-6318
    trevor.morris@tabbank.com

    The MIL Network