NewzIntel.com

Category: Commerce

  • MIL-OSI USA: New Dems Demand that President Trump Abandon National Sales Tax on the American People, Work with Congress to Lower Costs

    Source: United States House of Representatives – Representative Don Beyer (D-VA)

    Today, following President Trump’s decision to institute sweeping taxes on American consumers and businesses and engage in a global trade war with every single ally and trading partner, New Dems wrote to President Trump and his top advisors imploring the administration to change course on his erratic and unilateral tariff strategy. 

    The letter from New Democrat Coalition Chair Brad Schneider, Economic Growth and Cost of Living Working Group Chair Chrissy Houlahan, and Trade Task Force Chair Don Beyer reads in part: 

    Rather than engaging in an erratic and unilateral tariff strategy, we urge you to pursue a strategic and sustainable approach that strengthens our alliances, upholds international trade rules, and ensures fair competition through robust enforcement mechanisms. We urge you to focus on bringing down prices and implementing policies that support U.S. manufacturing, build supply chain resilience, and strengthen relationships with our trading partners. 

    Since President Trump announced this national sales tax, global markets have crashed, companies have begun laying off workers, small businesses are considering closing their doors, and American consumers are seeing higher prices on everything from groceries to electronics and more. 

    You can read the letter here or below: 

    Dear President Trump,

    As Members of the New Democrat Coalition, we write to express our deep concerns regarding your Administration’s approach to trade policy, particularly the imposition of sweeping tariffs on imports that are already raising costs for American consumers and businesses, undermining American competitiveness, and creating uncertainty that is stifling business investment and threatening jobs. We write on behalf of our constituents who were previously struggling to make ends meet and will now be forced to pay more for groceries, for new cars, for home appliances, and so much more. We can expect consumers to pause purchases, big and small, which will be a drain on our economy and diminish our children’s future prospects. 

    When used thoughtfully, strategic and targeted tariffs can be a tool to protect American workers, ensure fair trade practices, and defend U.S. economic interests. Unfortunately, your latest announcement of capricious and sweeping universal and reciprocal tariffs undermines these goals, and in fact, moves us in the opposite direction. American workers, families, and businesses will pay the price. 

    Tariffs function as taxes on American consumers and businesses, raising the costs of goods and materials essential for domestic manufacturing and production. Industries that rely on global supply chains, including agriculture, technology, and manufacturing, have already reported higher costs due to the tariffs in addition to increased sourcing challenges—both factors that are leading to price increases for American consumers. Many small businesses have made the difficult decision to pass these costs, which are a direct result of new tariffs, on to their customers and face significant challenges that will impact their ability to operate. Additionally, retaliatory tariffs from our trading partners have further restricted market access for American products, uniquely harming exporters and rural economies that depend on foreign markets to sell world class products. 

    The unpredictability of your Administration’s trade agenda, characterized by on-again, off-again tariffs imposed on our closest allies in violation of trade agreements that your own administration negotiated has created an environment of uncertainty for American businesses. Businesses of all sizes depend on certainty to thrive. That certainty comes in the form of policy continuity, a clear regulatory framework, and an equitable and transparent system to resolve trade disputes. Absent this certainty, businesses cannot invest in innovation, American workers, or expanding their operations to international markets. Make no mistake, your Administration’s trade agenda is slowing economic growth and job creation, weakening U.S. global leadership, and increasing the cost of doing business with the United States. 

    Rather than engaging in an erratic and unilateral tariff strategy, we urge you to pursue a strategic and sustainable approach that strengthens our alliances, upholds international trade rules, and ensures fair competition through robust enforcement mechanisms. We urge you to focus on bringing down prices and implementing policies that support U.S. manufacturing, build supply chain resilience, and strengthen relationships with our trading partners. 

    The Constitution clearly states that no president, Democrat or Republican, has the power to raise taxes on the American people without the consent of Congress. We call on your administration to engage in meaningful consultation with Congress to ensure that trade policy reflects the interests and values of the American people. Given the dire consequences of an escalating trade war, we underscore Congress’s constitutional role in trade policy and respectfully request a meeting with the United States Trade Representative, Ambassador Jamieson Greer, to discuss your Administration’s trade strategy. We urge your administration to focus on policies that advance American interests without burdening consumers, isolating our trusted trading partners, and harming U.S. global leadership. 

    MIL OSI USA News –

  • MIL-OSI USA: Warren, Wyden Launch Investigation into Google, Microsoft Partnerships with AI Developers Anthropic, OpenAI

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren

    April 08, 2025

    “We are concerned that corporate partnerships within the AI sector discourage competition, circumvent our antitrust laws, and result in fewer choices and higher prices for businesses and consumers using AI tools.” 

    Text of Letter to Google/Anthropic (PDF) | Text of Letter to Microsoft/OpenAI (PDF)

    Washington, D.C. – U.S. Senators Elizabeth Warren (D-Mass.) and Ron Wyden (D-Ore.) wrote to cloud service providers Google and Microsoft with concerns that their respective partnerships with AI developers Anthropic and OpenAI may violate antitrust laws, leading to fewer choices and higher prices for businesses and consumers using AI tools. 

    The Federal Trade Commission (FTC) warned in a January 2025 report that these types of partnerships might pose “risks to competition and consumers, such as ‘. . . locking in the market dominance of large incumbent technology firms.” The FTC and the Department of Justice have also raised concerns about these partnerships, warning that they can act as de facto mergers and allow companies to consolidate talent, information, and resources, while bypassing the traditional scrutiny associated with mergers and acquisitions. 

    These partnerships can involve minority stakes and significant investment from cloud service providers (CSPs), like Google and Microsoft, giving them access to AI developers’ talent, computing capacity, intellectual property, or business information. 

    In some cases, CSPs hire the top AI talent away from the AI developer and obtain exclusive licensing of the developer’s technology, “effectively swallowing the start-up and its main assets — without becoming the owner of the firm.” An agreement may also give the CSP a high level of control over, and stake in, the AI developer’s business decisions. In the most egregious case, individuals have held concurrent board positions with both the CSP and the AI developer, in a blatant violation of U.S. antitrust law. Partnership agreements can also lock AI developers in with particular CSPs because of the high contractual and technical cost of starting an agreement with a new CSP, limiting innovation in cases where there are better partnerships available. 

    “Partnerships between CSPs and AI developers, if left unchecked, may accelerate consolidation of the AI sector, ultimately driving up prices and choking off innovation,” wrote the senators. 

    In order to better understand the potential anticompetitive risks of these agreements, the senators requested the companies provide more information about their partnerships, including on the consolidation of computing resources, talent, and intellectual property, by April 21, 2025.  

    Senator Warren has long fought to crack down on corporate consolidation that threatens consumers and raises prices, including in the technology sector: 

    • In February 2025, Senator Elizabeth Warren wrote to Omeed Assefi, Acting Assistant Attorney General for the United States Department of Justice’s (DOJ) Antitrust Division, calling on the agency to closely scrutinize Disney’s proposed acquisition of FuboTV (Fubo).
    • In December 2024, Senators Elizabeth Warren and Eric Schmitt (R-Mo.) introduced the bipartisan Protecting AI and Cloud Competition in Defense Act to ensure that the Department of Defense (DoD)’s procurement of artificial intelligence (AI) and cloud computing tools prioritizes resiliency and competition. The bill offers meaningful regulation to limit Big Tech monopolies from elbowing out competitors in the AI and cloud computing markets.
    • In November 2024, U.S. Senators Elizabeth Warren (D-Mass.) and Richard Blumenthal (D-Conn.) sent two letters regarding the impact of private equity and large corporations in veterinary care, to JAB Holding Company (JAB) and to Mars Petcare (Mars), a subsidiary of Mars, Inc., respectively.
    • In October 2024, Senator Elizabeth Warren led the reintroduction of the Stop Wall Street Looting Act, comprehensive legislation to fundamentally reform the private equity industry and level the playing field by forcing private investment firms to take responsibility for the outcomes of companies they take over, empowering workers and protecting investors. 
    • In August 2024, U.S. Senator Elizabeth Warren (D-Mass.) and Representative Joaquin Castro (D-Texas), joined by U.S. Senator Bernie Sanders (I-VT), wrote to the United States Department of Justice (DOJ) and Federal Communications Commission (FCC), calling on the agencies to closely scrutinize the proposed joint venture between FOX, Warner Bros. Discovery, and Disney subsidiary ESPN that would create a new streaming service named Venu Sports (Venu). 
    • In July 2024, Senators Warren, Klobuchar, Murphy, Sanders, Booker, and Blumenthal wrote a letter to the Department of Justice and Federal Communications Commission, urging them to scrutinize T-Mobile’s proposed acquisition of UScellular.
    • In July 2024, Senator Warren and Representatives Mark Pocan (D-Wis.) and John Garamendi (D-Calif.) urged the Department of Defense (DoD), FTC, and DOJ to review TransDigm Group Inc.’s acquisitions of two specialized aerospace contractors to prevent price gouging.
    • In June 2024, Senator Warren wrote to DOJ, FTC, and the Department of Health and Human Services (HHS), calling out high health care costs due to vertically integrated insurers, private equity companies, and pharmaceutical companies that are driving health care consolidation.
    • In June 2024, Senators Warren and Markey (D-Mass.) introduced the Corporate Crimes Against Health Care Act of 2024 to root out corporate greed and private equity abuse in the health care system.
    • In May 2024, chairing a hearing of the Senate Banking, Housing, and Urban Affairs Committee Subcommittee on Economic Policy, Senator Warren highlighted the impact of concentration in the food industry and its impact on prices, product, and consumer choice.
    • In May 2024, Senator Warren and Senator Josh Hawley (R-Mo.) introduced the bipartisan Airport Gate Competition Act, which would increase competition in the airline industry and lower prices for consumers by increasing the number of common-use gates in airports.
    • In March 2024, Senator Warren and Representative Mary Gay Scanlon (D-Penn.) led a group of 14 lawmakers in urging the FTC to revive enforcement of the Robinson Patman Act, a critical tool to promote fair competition in the food industry.
    • In March 2024, Senators Warren and Klobuchar led 26 lawmakers in urging the leadership of the House and Senate Appropriations Committees to strike parts of the Commerce, Science, and Justice (CJS) appropriations bill that undercut DOJ’s ability to block anticompetitive mergers.
    • In February 2024, Senator Warren urged FTC to closely scrutinize Choice Hotels’ attempted hostile takeover of Wyndham Hotels & Resorts, which would further consolidate the hotel market and create the largest branded hotel chain in the United States.
    • In February 2024, Senator Warren delivered the keynote address at RemedyFest, where she called out Big Tech for their anti-competitive tactics that have led to market consolidation and record profits.
    • In February 2024, Senator Warren and 12 other lawmakers called on regulators to block the Capital One-Discover Merger.
    • In December 2023, Senator Warren led 6 senators in a letter to Acting Comptroller of the Currency Michael Hsu, calling on OCC to allow states to move forward with their efforts to protect consumers from harmful bank practices. The senators criticized the OCC for overstepping its preemption authority under the Dodd-Frank Wall Street Reform and Consumer Protection Act, which the agency is abusing to block tough, state-level consumer protections.
    • In November 2023, Senators Warren and Blumenthal called out U.S. Anesthesia Partners’ (USAP) monopolistic business model and use of restrictive non-compete agreements that have reduced patients’ quality of care, increased prices, and suppressed workers’ wages.
    • In October 2023, Senator Warren and Representative Pramila Jayapal (D-Wash.) urged DOJ and FTC to carefully scrutinize UnitedHealth Group’s pending acquisition of Amedisys; and urged the agencies to scrutinize similar deals, reject behavioral or structural remedies, and oppose any health care acquisition that would threaten competition, increase prices, and reduce quality of care.
    • In September 2023, Senator Warren and Representative Becca Balint (D-Vt.), along with a bicameral group of lawmakers, submitted a public comment to the FTC and DOJ in support of the agencies’ proposed merger guidelines, endorsing the agencies’ reading of antitrust law, praising the guidelines as necessary to prevent harm to workers, consumers, and small businesses.
    • In August 2023, chairing a hearing of the Senate Banking, Housing, and Urban Affairs Committee Subcommittee on Economic Policy, Senator Warren highlighted the need for regulators to implement the strongest version of bank merger review guidelines in order to ensure stability in the financial system. 
    • In July 2023, Senators Warren and Lindsey Graham unveiled comprehensive legislation that would rein in Big Tech by establishing a new commission to regulate online platforms. The commission would have concurrent jurisdiction with FTC and DOJ, and would be responsible for overseeing and enforcing the new statutory provisions in the bill and implementing rules to promote competition, protect privacy, protect consumers, and strengthen our national security.
    • In June 2023, Senator Warren sent a letter to Assistant Attorney General Jonathan Kanter, Federal Deposit Investment Corporation (FDIC) Chairman Gruenberg, Acting Comptroller of the Currency Hsu, Federal Reserve Vice Chair for Supervision Michael Barr, and Treasury Secretary Janet Yellen, urging regulators to promote greater competition in the banking sector by toughening their stances on bank mergers and strengthening bank merger review guidelines.
    • In May 2023, at a hearing of the Senate Banking, Housing, and Urban Affairs Committee, Senator Warren questioned Acting Comptroller Hsu on his decision to approve JPMorgan Chase’s purchase of First Republic Bank after its collapse. This merger allowed a large, poorly supervised bank to be swallowed by America’s largest bank, making it $200 billion larger than it was before.

    MIL OSI USA News –

  • MIL-OSI USA: NEWS: Sanders, Scott, 174 Colleagues Introduce Bill to Raise Minimum Wage to $17 by 2030, Benefitting Nearly 22 Million Americans

    US Senate News:

    Source: United States Senator for Vermont – Bernie Sanders

    WASHINGTON, April 8 – Sen. Bernie Sanders (I-Vt.), Ranking Member of the Senate Committee on Health, Education, Labor, and Pensions (HELP), and Rep. Robert C. “Bobby” Scott (D-Va.), Ranking Member of the House Committee on Education and Workforce, alongside 32 colleagues in the Senate, 142 in the House of Representatives, and with the support of 85 organizations from across the country, today introduced the Raise the Wage Act. This bicameral legislation will ensure American workers make a living wage, drive economic growth, and reduce income inequality by raising the minimum wage to $17 for all workers and gradually eliminating subminimum wages for tipped workers, workers with disabilities, and youth workers. 

    Early Saturday morning, Sanders forced a vote on an amendment to the Budget Resolution in the Senate calling for raising the federal minimum wage to at least $17 an hour over the next 5 years. Every Democrat voted for that amendment while every Republican but one opposed it. 

    Last year, nearly one in four workers in the U.S. made less than $17 per hour. The Raise the Wage will raise the federal minimum wage to $17 over five years, eliminate the tipped subminimum wage over seven years, eliminate the subminimum wage for workers with disabilities over five years, and eliminate the subminimum wage for youth workers over seven years. According to analysis by the Economic Policy Institute (EPI), passing the Raise the Wage Act of 2025 would provide raises to over 22 million workers across the country by 2030. 

    “The $7.25 an hour minimum wage is a starvation wage. It must be raised to a living wage – at least $17 an hour,” Sanders said. “In the year 2025, a job should lift you out of poverty, not keep you in it. At a time of massive income and wealth inequality, we can no longer tolerate millions of workers trying to survive on just $10 or $12 an hour. Congress can no longer ignore the needs of the working class of this country. The time to act is now.” 

    “No person working full-time in America should be living in poverty. The Raise the Wage Act will increase the pay and standard of living for nearly 22 million workers across this country. Raising the minimum wage is good for workers, good for business, and good for the economy. When we put money in the pockets of American workers, they will spend that money in their communities,” said Scott. 

    Raising the minimum wage to a living wage to a living wage is not a radical idea. In 2024, voters in Missouri and Alaska overwhelmingly voted to raise the minimum wage to $15 an hour. In 2022, voters in Nebraska voted to raise the minimum wage to $15 an hour. In 2020, Florida voted to raise the minimum wage to $15 an hour. As a result of inflation, $15 an hour a couple of years ago would be over $18 an hour today. Moreover, if the minimum wage had increased with worker productivity over the last 57 years, it would be over $23 an hour today, not $7.25 an hour. 

    Over the last 50 years, nearly $80 trillion in wealth has been redistributed from the bottom 90 percent of America to the top one percent. Today, the value of the current federal minimum wage – $7.25 per hour – is the lowest it has been since 1956 and has declined by over 32 percent since it was last increased in 2009. While approximately four million tipped workers in the U.S. depend on tips for as much as half of their income or more, the tipped sub-minimum wage has remained stagnant at just $2.13 per hour since 1991. The current median wage for at least 37,000 workers with disabilities is just $3.50 per hour. 

    Meanwhile, across every state in the country, a living wage for a worker in a family with two working adults and one child is greater than $17 per hour, according to the Economic Policy Institute’s (EPI) Family Budget Calculator. Many of these low-wage workers face persistent economic insecurity, struggling to put food on the table and afford basic necessities, including housing, health care, and childcare.

    Black and Hispanic workers disproportionately feel the burden of these low wages as compared to their white counterparts, and that disparity is even worse for women of color. Nearly 40 percent of Hispanic women and 35 percent of Black women make less than $17 per hour. 

    Joining Sanders on this legislation are Sens. Angela Alsobrooks (D-Md.), Tammy Baldwin (D-Wis.), Richard Blumenthal (D-Conn.), Lisa Blunt Rochester (D-Del.), Cory Booker (D-N.J.), Maria Cantwell (D-Wash.), Tammy Duckworth (D-Ill.), Dick Durbin (D-Ill.), John Fetterman (D-Pa.), Ruben Gallego (D-Ariz.), Kirsten Gillibrand (D-N.Y.), Mazie Hirono (D-Hawaii), Tim Kaine (D-Va.), Mark Kelly (D-Ariz.), Andy Kim (D-N.J.), Amy Klobuchar (D-Minn.), Ed Markey (D-Mass.), Jeff Merkley (D-Ore.), Chris Murphy (D-Conn.), Patty Murray (D-Wash.), Alex Padilla (D-Calif.), Gary Peters (D-Mich.), Jack Reed (D-R.I.), Brian Schatz (D-Hawaii), Adam Schiff (D-Calif.), Tina Smith (D-Minn.), Chris Van Hollen (D-Md.), Raphael Warnock (D-Ga.), Elizabeth Warren (D-Mass.), Peter Welch (D-Vt.), Sheldon Whitehouse (D-R.I.), and Ron Wyden (D-Ore.). 

    More than 85 organizations endorsed the Raise the Wage Act of 2025, including Service Employees International Union (SEIU), AFL-CIO, American Association of People with Disabilities (AAPD), American Federation of State, County and Municipal Employees (AFSCME), American Federation of Teachers (AFT), Autistic Self Advocacy Network (ASAN), Business for a Fair Minimum Wage, Communications Workers of America (CWA), Economic Policy Institute (EPI), Equal Pay Today, International Union of Painters and Allied Trades (IUPAT), National Domestic Workers Alliance (NDWA), National Education Association (NEA), National Employment Law Project (NELP), The National Partnership for Women & Families, National Women’s Law Center (NWLC), One Fair Wage, Oxfam America, Patriotic Millionaires, UNITE HERE, United Autoworkers (UAW), United Food and Commercial Workers (UFCW), United for Respect, and United Steelworkers (USW). 

    Sanders and Scott will hold a press conference at 3 p.m. today to introduce this legislation alongside workers from around the country. The press conference will be streamed on Sanders’ social media. 

    Read the bill text here. 

    Read the fact sheet here. 

    MIL OSI USA News –

  • MIL-OSI USA: Welch, King, Castor Introduce Bicameral Bill to Boost Investment in Grid-Enhancing Technologies, Increase U.S. Power Grid Capacity

    US Senate News:

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

    WASHINGTON, D.C. – Today, U.S. Senators Peter Welch (D-Vt.) and Angus King (I-Maine) joined U.S. Representative Kathy Castor (D-FL-14) in introducing the Advancing Grid-Enhancing Technologies Act, bicameral legislation to boost investments in grid-enhancing technologies (GETs), a type of transmission technology that expands the capacity of existing transmission infrastructure. The lawmakers’ billwould increase U.S. grid capacity by requiring the Federal Energy Regulatory Commission (FERC) to establish an incentive that splits savings generated by GETs implementation between the installer and ratepayers. 
    “We’re at a crucial turning point in our work to achieve a clean energy transition, and meeting this moment requires new investments in clean energy technologies that strengthen the capacity of our transmission system,” said Senator Welch. “The Advancing GETs Act will motivate grid operators and developers to bring new projects online that expand transmission capacity by guaranteeing returns for these targeted, cost-saving investments. Our legislation will be crucial to boosting transmission capacity and will help the United States cost-effectively achieve its clean energy goals while lowering electricity bills and for working families.” 
    “As technology improves and grows more efficient, we should incorporate this innovation into our energy grid to better serve American homes, businesses, and critical infrastructure,” said Senator King. “As we work to create a sustainable clean energy future, streamlined transmission is urgently needed. The Advancing GETs Act will create an incentives program to help spur new, smart solutions expanding existing transmission infrastructure. This bill is another step forward in meeting the need for reliable, affordable, and clean electricity.” 
    “Consumers deserve lower electric bills and a more reliable electric grid.  By optimizing the existing grid infrastructure and decreasing the need for costly upgrades, GETs can build a more stable power supply. These technologies pave the way for a more efficient, affordable, and sustainable energy future for everyone,” said Rep. Castor. “In order to quickly bring these projects online and meet growing electricity demand, we must upgrade our old, congested transmission infrastructure. The Advancing GETs Act will help us do that by supercharging the deployment of grid-enhancing technologies that enable transmission operators to maximize the capacity of existing power lines, increase reliability, and lower prices.” 
    The Advancing GETs Act is endorsed by the American Council on Renewable Energy (ACORE), Electricity Consumers Resource Council, Natural Resources Defense Council, Sierra Club, Solar Energy Industries Association, and the WATT Coalition. 
    “At a moment where our country faces unprecedented growth in energy demand, expected to surge 35-50% by 2040, evolving the way we deliver power is as critical as ever. Grid-enhancing technologies (GETs) will be needed to quickly and affordably increase transmission capacity. ACP commends Sen. Welch and Rep. Castor for introducing the Advancing GETs Act which creates incentives for these technologies. We look forward to working with them as this bill moves through the legislative process,” said Jason Grumet, CEO of American Clean Power Association (ACP).  
    “Delivering the cheapest power is not part of the business model for utilities who own the grid. This regulatory problem means that grid constraints that could be addressed with low-cost technologies add $3-8 billion to electricity costs every year. The Advancing GETs Act aligns utility and consumer incentives for technologies that can save money and improve grid reliability and security. GETs can be deployed in less than a year to open up the grid for cheaper energy and new industries,” said Julia Selker, Executive Director of the WATT Coalition. 
    Grid-enhancing technologies provide crucial opportunities to upgrade America’s aging infrastructure by enabling grid operators to more dynamically manage the flow of electricity and increase cost-effective capacity of existing infrastructure. However, current financial incentives have proven inadequate in encouraging developers to implement GETs. Currently, utilities see guaranteed returns on investment for building larger, expensive infrastructure such as new transmission lines and power generation plants, but get little or no return for targeted, cost-saving investments like GETs.    
    The Advancing Grid-Enhancing Technologies Act would increase U.S. grid capacity by requiring FERC to establish an incentive that splits savings generated by GETs implementation between the installer and ratepayers. The legislation would motivate developers to invest in GETs by rewarding deployment of GETs projects that result in savings of at least four times their upfront cost and deliver a net benefit to ratepayers. Additionally, the Advancing GETs Act includes an annual reporting requirement that directs transmission owners to report costs associated with congestion to FERC and directs the Commission to analyze and make this data available to the public. The legislation also charges the Department of Energy with creating an application guide for implementing GETs projects, providing technical assistance to stakeholders interested in GETs, and managing a clearinghouse with examples of GETs projects. 
    Last year, Sens. Welch, King and Reps. Castor and Paul Tonko (D-NY-20) sent a letter to FERC leadership urging the Commission to implement shared savings incentive that promote the deployment of GETs to expand transmission capacity and meet rapid growth in electricity demand. 
    Learn more and read a section-by-section summary about the Advancing GETs Act. 
    Read and download the full bill text. 

    MIL OSI USA News –

  • MIL-OSI Security: Jacksonville Man Pleads Guilty To Wire Fraud Involving A Paycheck Protection Program Loan

    Source: Office of United States Attorneys

    Jacksonville, Florida – United States Attorney Gregory W. Kehoe announces that Larry E. Denson, Jr. (31, Jacksonville) has pleaded guilty to wire fraud involving COVID relief fraud through the Paycheck Protection Program (PPP).  Denson faces a maximum penalty of 30 years in federal prison and payment of restitution to the United State government. Denson has also agreed to forfeit $18,190, the proceeds of the charged criminal offense. A sentencing date has not yet been set.

    According to the plea agreement, in April 2021, Denson submitted a PPP loan application to a lender authorized by the Small Business Administration (SBA) to lend funds for approved PPP loan applications. The PPP loan application falsely claimed that Denson operated his own janitorial services business with a gross income of $87,312. Throughout the loan application, Denson made false statements regarding his purported payroll and operating expenses. In support of his PPP loan application, Denson submitted a fraudulent IRS form that contained false statements about expenses and income for his purported business. Upon reliance of the false statements in his PPP loan application and supporting documentation, Denson received a PPP loan for $18,190. 

    After receiving the PPP loan proceeds into his bank account, Denson began making withdrawals and spending the funds on personal expenses, including meals at restaurants, retail purchases, and cash withdrawals. In July 2022, Denson filed a PPP Loan Forgiveness Application, falsely stating that he had spent the $18,190 on payroll. Relying on his false statements, the SBA forgave the entire loan amount.

    This case was investigated by Federal Housing Finance Agency – Office of Inspector General and the Federal Bureau of Investigation. It is being prosecuted by Assistant United States Attorney David B. Mesrobian.

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

    MIL Security OSI –

  • MIL-OSI Security: Federal agents arrest man who allegedly fraudulently received $32 million business tax refund check

    Source: Office of United States Attorneys

    DAYTON, Ohio – An Atlanta-area man was arrested this morning by IRS Criminal Investigation special agents on federal charges alleging he fraudulently converted two businesses’ IRS accounts to his name and address. The defendant received tax refund checks – including one for more than $32 million – that were to be paid out to these two businesses.

    Christopher Dowtin, 48, of Jonesboro, Georgia, will appear in federal court in Atlanta today. He is charged with wire fraud and theft of public money.

    According to charging documents, Dowtin fraudulently submitted IRS forms claiming to be the responsible party for two separate companies.

    In December 2024, the IRS processed eight Change of Address or Responsible Party-Business forms associated with Dowtin. Dowtin’s requests for changes were completed and accepted. He ultimately received two tax refund checks for those companies: one in the amount of $32,495,888.58 and one in the amount of $26,156.50.

    Dowtin allegedly traveled from Georgia to Ohio with the two checks to open an account in the Southern District of Ohio.

    On Feb. 13, Dowtin allegedly took the checks to a Morgan Stanley office in Beavercreek, Ohio, and attempted to negotiate the funds into a brokerage account in a trust in his name. The affidavit details that Dowtin told the Morgan Stanley financial advisor that the two companies were paying him for illegally using his “personhood.” He said the payments owed to him had been transferred to him from the IRS. The financial advisor verified that the checks were valid U.S. Treasury checks.

    On Feb. 19, an executive director at Morgan Stanley contacted the United States Secret Service and IRS Criminal Investigation regarding the suspicious nature of the checks and Dowtin’s supporting paperwork. The checks were seized by law enforcement.

    Wire fraud is a federal crime punishable by up to 20 years in prison. Theft of public funds carries a potential sentence of up to 10 years in prison.

    Kelly A. Norris, Acting United States Attorney for the Southern District of Ohio; Karen Wingerd, Special Agent in Charge, IRS Criminal Investigation (IRS-CI); and Yvonne DiCristoforo, Special Agent in Charge, United States Secret Service; announced the arrest and charges. Assistant United States Attorney Amy M. Smith is representing the United States in this case.

    A criminal complaint merely contains allegations, and defendants are presumed innocent unless proven guilty in a court of law.

    # # #

    MIL Security OSI –

  • MIL-OSI USA: Ernst Brings Voice of Iowa Small Businesses to Washington

    US Senate News:

    Source: United States Senator Joni Ernst (R-IA)
    Published: April 8, 2025
    Ernst, small business owners emphasize the need to make Trump tax cuts permanent.
    WASHINGTON – During a joint hearing of the House Committee on Small Business and the Senate Committee on Small Business and Entrepreneurship, Chair Joni Ernst (R-Iowa) questioned small business owners, including from Iowa, about how important it is for Congress to ensure Trump’s tax cuts don’t expire.
    She spoke with Jerry Akers from Palo, Iowa, on the impact of the punitive death tax and how renewing Trump’s tax cuts will allow him to pass down his business to his daughters without taking on unnecessary loans.
    Chair Ernst and Iowan Jerry Akers. Watch Chair Ernst’s full questioning here.
    Akers echoed Chair Ernst’s remarks on how the expiration of Trump’s tax cuts would slow the growth of small businesses and harm communities and employees.
    Ernst, who has long advocated for the eradication of the death tax, detailed how Iowa families should not have to fear the loss of their livelihoods as they grieve a loved one.

    MIL OSI USA News –

  • MIL-OSI USA: Ernst Pushes to Make Trump Tax Cuts Permanent for Small Businesses

    US Senate News:

    Source: United States Senator Joni Ernst (R-IA)
    WASHINGTON – Today, at a joint hearing of the House Committee on Small Business and the Senate Committee on Small Business and Entrepreneurship, Chair Joni Ernst (R-Iowa) delivered opening remarks on why Congress must keep taxes low to unleash prosperity on Main Street.
    Ernst detailed how the Trump tax cuts must be made permanent to keep tax relief in place that fueled incredible growth and job creation during President Donald Trump’s first term.
    Watch Chair Ernst’s full remarks here.
    Ernst’s full remarks:
    “Thank you, Chairman Williams. I appreciate your friendship and our ability to work together on behalf of America’s small businesses. 
    “I am glad that we can hold this joint hearing of our two committees today to examine an issue that impacts every small business in America.
    “Eight years ago, working alongside President Trump, Congress passed the most significant simplification of our tax code in decades, the Tax Cuts and Jobs Act of 2017, otherwise known as the TCJA.
    “The TCJA provided relief to every American, simplifying and reducing personal income taxes, and expanding important deductions used by small businesses across the country.
    “These changes have allowed small businesses to thrive and contributed to the incredible growth we saw under President Trump’s first term, which led to strong real wage growth for workers, the lowest unemployment rate in 50 years, and annual GDP growth that reached 3 percent.
    “These tax provisions have also allowed small business owners, including our witnesses today, to grow their businesses and reinvest in their communities and employees.
    “But the reality is these gains are in jeopardy if Congress allows the TCJA to expire, and Americans would suffer the largest tax increase in history.
    “Small business owners will be hit particularly hard if the TCJA expires, as over 96 percent of small businesses are structured as pass-through entities that benefit from the qualified business income deduction and the general reductions in personal income tax rates.
    “The TCJA empowered small business owners to invest in themselves through provisions like bonus depreciation, enhanced business expensing, and the R&D deduction.
    “More importantly, the TCJA enabled small businesses to invest more in their employees. I’ve heard from small business owners all over Iowa who used that extra money to provide their workers with health insurance, parental leave, and retirement plans. 
    “I have also talked to small business owners who hired staff and expanded, but who would have to make hard decisions about who to keep if these cuts were to expire.
    “When I talk to Iowans back home the message is clear – they can’t handle a tax hike.
    “Workers are also concerned that if employers have to give more of their revenue to Washington, jobs and benefits will have to be cut, on top of the higher taxes they will pay due to individual rate hikes. The consequences are real to workers and their families. 
    “I also want to address a tax policy issue of particular concern to Iowans.
    “The TCJA reduced the death tax, giving families the ability to keep their farms and businesses after a loved one’s passing. This change was particularly important in my state, preventing families from being forced to sell off farms or businesses that have been in theirs for generations. 
    “The bottom line is that America’s small businesses need the TCJA along with the certainty it provides.
    “If we let the TCJA expire now, Americans and small business owners will be forced to shoulder another $4 trillion dollars in new taxes.
    “When small businesses grow, the American economy grows. 
    “I strongly support making the TCJA permanent and will fight to ensure that the interests of small businesses continue to be a priority in this Congress.”

    MIL OSI USA News –

  • MIL-OSI: AI-Powered PlanPros Hits Worldwide Use, Transforming How Entrepreneurs Create Business Plans

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, April 08, 2025 (GLOBE NEWSWIRE) —  PlanPros, the cutting-edge AI-driven business planning platform, is proud to announce that it has officially reached worldwide use, with users now leveraging its powerful capabilities across every continent—except Antarctica. The platform, designed to simplify the process of creating professional business plans, has quickly gained traction among entrepreneurs, startups, and small businesses worldwide, enabling them to craft detailed, high-quality business plans in just minutes.

    PlanPros AI business plan generator

    PlanPros’ AI business plan generator allows users to bypass the traditionally daunting and time- consuming task of business planning. In just under 12 minutes, the platform generates a comprehensive, investor-ready business plan by guiding users through 30 targeted questions that cover every key aspect of their business. With built-in financial projections (that users can quickly customize), market analysis, and strategic insights, PlanPros ensures that entrepreneurs can articulate their vision with clarity and confidence.

    “The response from entrepreneurs around the world has been overwhelmingly positive,” said Dave Lavinsky, founder and President of PlanPros. “In less than the time it takes to enjoy a lunch break, users can have a fully customized business plan that meets professional standards and sets them on a clear path for growth. Whether you’re raising funding, refining your strategy, or charting your course for success, PlanPros is here to make that process faster and easier than ever.”

    Since its inception, PlanPros has become an essential tool for entrepreneurs across diverse industries, offering a streamlined approach to business planning that traditionally required hours upon hours of research and drafting. The platform’s intuitive interface and real-time AI-powered assistance allow users to generate plans that exceed professional expectations without needing prior experience in business development.

    Key Features of PlanPros Include:

    • AI-Powered Business Plan Generation: Instantly creates professional business plans using advanced AI technology.
    • Rapid Development: Generates a complete business plan in about 12 minutes.
    • Financial Projections: Provides automated 5-year financial forecasts, including income statements, balance sheets and cash flow statements.
    • User-Friendly Interface: Features a simple step-by-step process for easy plan creation.
    • Customization Options: Allows full editing and personalization of business plans to suit specific needs.
    • Investor & Lender Database: Offers access to over 80,000 funding sources, aiding in securing necessary capital.
    • Educational Resources: Includes courses on funding strategies and entrepreneurship to enhance business acumen.
    • Multi-Device Accessibility: Accessible from any device with internet access, ensuring flexibility and convenience.
    • Export Functionality: Enables downloading of plans in various formats, including PDF, Word, or Google Docs.
    • Risk-Free Trial: Offers a 60-day money-back guarantee for peace of mind.

    PlanPros’ worldwide adoption highlights the growing demand for accessible, professional tools that empower entrepreneurs at all stages of business development. The platform’s ability to rapidly scale and meet the needs of global users showcases the power of AI to break down barriers and democratize access to essential business resources.

    As entrepreneurs continue to seek efficient ways to turn their ideas into successful ventures, PlanPros remains at the forefront of innovation, delivering not just a tool, but a strategic partner in every entrepreneur’s journey.

    For a one-time fee of $97, users gain 12 months of access to PlanPros, including additional resources and support.

    PlanPros AI Business Plan Easy To Use

    About PlanPros

    PlanPros is a powerful AI business plan generator designed to help startups, business owners, executives, and entrepreneurs create professional, investor-ready business plans effortlessly. PlanPros automates complex tasks such as creating business plans, financial forecasting, market research, and competitive analysis. In just 12 minutes, users can generate a comprehensive business plan tailored for securing funding and scaling their ventures.

    Whether you’re searching for the best AI business plan generator or a fast, reliable way to craft a data-driven business strategy, PlanPros streamlines the entire process with cutting- edge AI technology.

    Press inquiries

    PlanPros
    https://planpros.ai/
    Dave Lavinsky
    davel@planpros.ai
    12130 Millennium Dr #300, Los Angeles, CA 90094, United States

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/2955c994-a8f5-4cab-8dfe-f4b41c9e2a0d

    https://www.globenewswire.com/NewsRoom/AttachmentNg/5f3f1dd6-e8fb-486f-8058-4f4a1f72f120

    A video accompanying this announcement is available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/945adf9b-acd2-4891-b9f5-12a80a667dfe

    The MIL Network –

  • MIL-OSI USA: Senator Murray, Commerce Director Nguyễn, WA Businesses and Agriculture Respond to Trump Tariffs Raising Costs on Americans, Tanking Economy

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    Murray: “I’m calling on my Republican colleagues to help us, stop letting Trump tank the economy and raise prices, vote with us to reverse these pointless and destructive tariffs… Already, the chaos and uncertainty these tariffs have created are pushing us toward a Republican recession.”

    Washington state is one of the most trade-dependent states in the U.S., with 40 percent of WA jobs tied to international commerce; A recent analysis from Yale Budget lab found Trump’s tariffs could raise costs on the average American household by $4,000 a year

    ***WATCH HERE, DOWNLOAD VIDEO HERE; AUDIO HERE***

    Washington, D.C. — Today,U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, held a virtual press conference with Washington Department of Commerce Director Joe Nguyễn, Washington Council on International Trade President Lorri Otto Punke, Washington State Department of Agriculture International Marketing Program Manager Rianne Ham, and Blas Alfaro, co-owner of Fulcrum Coffee Roasters in Seattle. Senator Murray and the other speakers highlighted how the reckless, sweeping new tariffs President Trump announced last week—a significant escalation in Trump’s ongoing trade war—will raise costs for families everywhere and be devastating for Washington state’s economy, businesses, and our agriculture sector. A recent analysis found that Trump’s tariffs could raise costs on the average American household by $4,000 a year—and these price hikes on working families are coming at the very same time that Republicans are forcing massive new tax cuts for billionaires through Congress.

    Last Wednesday, President Trump declared new tariffs on a wide range of imports, targeting key sectors including agriculture, electronics, and automobiles. This included a new, 10 percent baseline tariff on all imported goods—which went into effect on Saturday—as well as country-specific reciprocal tariffs, which will take effect tomorrow, April 9th. These tariffs come on top of the 25 percent tariffs President Trump imposed in February on most imports from Canada, Mexico, and 10 percent tariffs on China. Canada is Washington’s largest trading partner, accounting for nearly $20 billion in imports and $10 billion in exports—and Trump’s pointless trade war with Canada is already hurting businesses of all sizes in Washington state. On the heels of Trump’s tariff announcement, JP Morgan raised its prediction of the probability of a US recession to 60 percent.

    Washington state has one of the most trade-dependent economies of any state in the country, with 40 percent of jobs tied to international commerce. Washington state is the top U.S. producer of apples, blueberries, hops, pears, spearmint oil, and sweet cherries—all of which risk losing vital export markets due to retaliatory tariffs from key trading partners including Canada. Additionally, more than 12,000 small and medium-sized companies in Washington state export goods and will be unlikely to be able to absorb the impact of retaliatory tariffs. Trump’s tariffs during his first term were extremely costly for Washington state—for example, India imposed a 20 percent retaliatory tariff on U.S. apples, causing Washington apple shipments to India to fall by 99 percent and growers to lose hundreds of millions of dollars in exports.

    “Families are going to feel the pain of Trump’s new tariffs everywhere they shop. And, as one of the most trade-dependent states in the country, Washington state stands to lose among the most from Trump’s destructive trade war. Two in five jobs in our state exist because of international trade—that’s a full 40 percent of jobs in our state. Farmers, fishers, producers in our state—rely heavily on trade with Canada and Mexico, and Trump’s trade war has already been an especially deep cut for them. Now, they’re about to get hammered even more,” said Senator Murray on the press call today. “Already, the chaos and uncertainty these tariffs have created are pushing us toward a Republican recession… But here’s the thing you all need to know: Congress can actually reverse these tariffs. Last week in fact, the Senate voted on a resolution to reverse Trump’s tariffs on Canada by ending the bogus emergency declaration President Trump issued to justify them. That resolution passed the Senate—with four Republican votes—but right now, it’s dead in the water unless Speaker Johnson brings it up for the vote in the House.”

    “Working families are already having a hard enough time navigating the rising costs because of these Trump tariffs. Their stock portfolios, their 401Ks are tanking because of these Trump tariffs as well, and they’re trying to figure out what’s happening next,” said Joe Nguyễn, Director of the Washington State Department of Commerce. “These are disruptive. They disrupt people’s lives, they disrupt their jobs, they disrupt industries like Boeing, our shipping terminals, our farmers, our tech companies—all of this is on the line. And I also want to be very clear about what’s at stake: affordability, stability, and opportunity in every corner of our state is being jeopardized by this manufactured crisis.”

    “Trade equals jobs in Washington state. And as we know, 40 percent to jobs in this state are tied to international trade. We are proud of our diversity of exports—everything from aerospace to agriculture to clean tech to forest products to life sciences marine, and the military. And Washington state also facilitates trade and exports around the country. More than 50 percent of all U.S. wheat travels through our Columbia River system,” said Lori Otto Punke, President of the Washington Council on International Trade. “We have the 10th-largest economy in the U.S… we’re very deeply concerned about the impacts that these aggressive unilateral tariff actions will have, here locally. And we also know from the last almost-decade that tariff policy has already negatively impacted Washington state… [Tariffs] have failed to achieve the goals that they were meant to do, while imposing a lot of costs and many lost opportunities… What we’re talking about from a tariff perspective now is nowhere close—you know, it’s huge, compared to what we’ve seen in the past. And from a broad historical context, in 2015, Washington state exports [were] approximately, nearly 90 billion dollars in goods. And this made us one of the top exporting states in the country. But after… nearly a decade of tariff policy, in 2023, a lot of our goods and services were down about a third of that, down to about $60 billion dollars. So as we know, there are negative impacts of tariffs already, we’ve already seen that, and this huge magnification of tariffs is really detrimental.”

    “Exports are critically important to Washington’s agriculture economy. The uncertainty around retaliatory tariffs, the uncompetitive prices and lost market share that may result where implemented, and the damage to relationships with trading partners are some of the areas of concern for Washington agriculture exporters at this time,” said Rianne Ham, International Marketing Program Manager at the Washington State Department of Agriculture. “We’ve been through this before. A few years ago, we did face a number of retaliatory tariffs from the past Trump administration, some of those are still in effect. We do know that those retaliatory tariffs did raise prices on our agriculture products, they did make our products more expensive for consumers, and they did result in lost market share.”

    “Green coffee prices have risen by up to 40 percent over the past year. This isn’t just inflation—it’s a result of global challenges: climate change disrupting crops, labor shortages in producing countries, increased demand from growing economies, and declining output from some of the world’s largest producers, including Vietnam and Indonesia. And now, with the April 2 tariff implementation, that pressure is increasing,” said Blas Alfaro, Partner & Senior Vice President at Fulcrum Coffee Roasters in Seattle. “Here’s what that looks like: a 10 percent base tariff on all imported green coffee, a 46 percent tariff on coffee from Vietnam, which represents 20 percent of U.S. imports, and a 30 percent tariff on Indonesian coffee, a country known for unique flavor profiles that simply cannot be substituted. This affects not just roasters, but the thousands of local, independent cafés we serve—many of them drive-thru espresso stands and family-run shops in small towns. These businesses employ baristas and support staff, serve as cultural and social gathering spaces, and actively reinvest in their communities. But their margins are thin. Tariffs like these force them to make tough decisions: raise prices, reduce hours, or close altogether. The impact goes beyond the beans. Espresso machines, mostly manufactured in Italy, now face a 30 percent import tariff. Packaging materials—cups, bags, lids—are also affected. The full cost of doing business is rising rapidly, and small operators are being hit the hardest.”

    Senator Murray’s full remarks, as delivered on today’s press call are below and video is HERE:

    “First of all, thank you to all of my great guests for being on this today, for bringing your expertise to this conversation—and thank you, to all of you who have joined us for this really important call today.

    “As we all know, last week President Trump held a press conference in the Rose Garden to celebrate—yea, he did say celebrate—his new taxes on everyone. And I have to say, the alternative reality Trump and his advisors have been spinning could not be more different from whatI’m hearing from folks at home who are already being crushed by Trump’s tariffs—and are about to see their prices go up even more.

    “So, today I wanted to paint a better picture for all of us of what Trump’s ham-fisted, utterly pointless tariffs are actually going to mean for people in Washington state.

    “For businesses, like Fulcrum Coffee Roasters in Seattle. For our farmers, for our fishers, for our growers, for housing developers, who are going to face rising costs for the raw materials it takes to build—and that will ultimately raise the cost of housing for everyone.

    “And for families in every part of our state who are deeply worried about how Trump’s tariffs are going to raise prices everywhere they shop.

    “No matter how much Trump tries to deny this simple fact—tariffs are a tax that the American people will pay on everything they buy.

    “There’s a brand-new analysis from the Yale Budget Lab that found that Trump’s tariffs are going to cost the average family nearly $4,000 per year. That is the largest middle-class tax increase in a generation!

    “Now that extra tax might not matter much to billionaires like Trump and Elon Musk, who do not even shop for themselves or even think about basic necessities—but you can bet it is going to matter to regular people in Washington state. Families are going to feel the pain of Trump’s new tariffs everywhere they shop.

    “And—as one of the most trade-dependent states in the country—Washington state stands to lose among the most from Trump’s destructive trade war.

    “Two in five jobs in our state exist because of international trade—that’s a full 40 percent of jobs in our state. Farmers, fishers, producers in our state—rely heavily on trade with Canada and Mexico, and Trump’s trade war has already been an especially deep cut for them. Now, they’re about to get hammered even more.

    “Last year, Washington state imported 17.8 billion of goods from Canada alone—everything from natural gas for folks to heat their homes, cars, seafood that you buy at the grocery store, fertilizer that our farmers rely on. All of that is now getting more expensive because of Trump’s tariffs.

    “Canada is also our second-largest export market—behind only China, which just got slapped with a 54 percent tariff they’re promising to retaliate heavily against. Well at least that was the plan last week, this week its 104 percent—and who knows what is next!?

    “I’ve talked to so many farmers in our state who are furious that Donald Trump cannot seem to grasp the basic fact that they actually rely on international markets.

    “Last month, Trump posted on Truth Social, and I’m going to quote it, ‘Get ready to start making a lot of agricultural product to be sold inside of the United States… Have fun!’

    “Have fun?! Many of our state’s top commodities export up to 90 percent of their crops. Producers are panicking right now! And Trump doesn’t seem to have a clue.

    “He just slapped 24 percent tariffs on Japan, which is the largest export market for Washington potatoes. Now, potato growers have been worried that they’re going to lose access to Japan’s market over retaliatory tariffs—and theyalreadylost access to China’s market in Trump’s first-term trade war. Our Ports are concerned that countries will start bypassing U.S. ports altogether, offloading their goods in Vancouver where it is cheaper. Business in Northern Washington, especially Whatcom County, is already cratering from Trump’s pointless trade war with Canada. The City of Blaine saw about a 40 percent drop in retail and services revenue after Trump’s tariffs on Canada went into effect!

    “As we know, the stock market is cratering right now and taking so many Americans’ hard-earned retirement savings with it. Stocks fell 10 percent over the week—and they keep dropping! And what was Trump doing while the Dow Jones was plummeting and Americans were panicking? He was golfing!

    “So, it’s already clear on Wall Street and Main Street alike that Trump’s tariffs will be devastating—and it’s also pretty clear he doesn’t care. Trump and his advisors might try to pretend that someone else, some other country, is going to pay these taxes—but even they know that’s not true!

    “Does anyone remember how Trump said Mexico would pay for the border wall?! He is selling snake oil.

    “Trump actually admitted to NBC that he ‘couldn’t care less if automakers raised prices because of his tariffs.’

    “And the irony is rich. Because, at the very same time that Trump is slapping new taxes on the goods that middle class families buy every day. At the very same time that Trump and Musk are insisting that we cannot afford to fund cancer research—or keep Social Security staff to answer Americans’ phone calls.

    “Trump’s top priority for Congress is making sure Republicans move full steam ahead to pass massive new tax cuts for billionaires.

    “And let’s be clear, Republicans’ tax breaks for billionaires are going to blow up the deficit—they will not be paid for. But guess how Republicans are choosing to try and offset some of the cost of those tax cuts? By slashing Medicaid and nutrition programs that feed hungry kids and families.

    “So, to recap: Trump is gutting services and raising costs on you by thousands of dollars a year with his tariffs—while, at the same time cutting taxes for himself and other billionaires like Elon Musk.

    “That’s Republican plan, if you’re a billionaire, you get showered with new tax breaks. If you’re a working family, you just get screwed—with new tax hikes and cuts to your health care. Already the chaos and uncertainty these tariffs have created are pushing us toward a Republican recession.

    “But here’s the thing you all need to know: Congress can actually reverse these tariffs. Last week in fact, the Senate voted on a resolution to reverse Trump’s tariffs on Canada by ending the bogus emergency declaration President Trump issued to justify them. That resolution passed the Senate—with four Republican votes—but right now, it’s dead in the water unless Speaker Johnson brings it up for the vote in the House.

    “So, right now I’m calling on my Republican colleagues to help us, stop letting Trump tank the economy and raise prices, vote with us to reverse these pointless and destructive tariffs. We could end this chaos today if Republicans would put their checkbook ahead of Donald Trump’s ego.

    “So, let’s be clear: any Republican who refuses to join us is joining Trump in raising prices on you, and wrecking our economy.

    “So I am delighted today to have four really great people who can lay out the basic facts, and the cold, hard reality of tariffs and what they mean for people here in Washington state and to our economy.

    “So let me turn it over first to Director Nguyen.”

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Correspondence: Letter from Business Secretary Jonathan Reynolds to the Prime Minister: 21 February 2025

    Source: United Kingdom – Prime Minister’s Office 10 Downing Street

    Correspondence

    Letter from Business Secretary Jonathan Reynolds to the Prime Minister: 21 February 2025

    Letter from Secretary of State for Business and Trade the Rt Hon Jonathan Reynolds MP to Prime Minister Keir Starmer.

    Documents

    Letter from the Business Secretary Jonathan Reynolds to the Prime Minister – 21 February 2025

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    Details

    Letter from Secretary of State for Business and Trade the Rt Hon Jonathan Reynolds MP to Prime Minister Keir Starmer.

    Updates to this page

    Published 8 April 2025

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    MIL OSI United Kingdom –

  • MIL-OSI Canada: Saskatchewan Showcased at Food, Fuel, Fertilizer Global Summit

    Source: Government of Canada regional news

    Released on April 8, 2025

    Third Annual Summit Brings Together Business Leaders from Across Canada

    Today, Premier Scott Moe delivered the keynote address to more than 300 business leaders and policymakers at the Saskatchewan Chamber of Commerce’s 2025 Food, Fuel, Fertilizer Global Summit in Regina.  

    “It has never been more clear how vital Saskatchewan is to ensuring food and energy security around the world,” Moe said. “The Food, Fuel, Fertilizer Global Summit emphasizes the province’s critical role in global trade and sustainable development, which is of utmost importance during this time of uncertainty. More and more countries are understanding the value that we bring to the table, realizing that choosing Saskatchewan is not just a good choice, but the right choice.”

    The summit explored the global role the province plays, particularly in the sectors of agriculture, mining and energy. Through his keynote, Premier Moe discussed food, and energy security, cutting the carbon tax, the province’s tariff response plan and the importance of diversifying export markets.

    “Saskatchewan’s approach to trade and investment has helped position our province as a reliable global partner in food, fuel and fertilizer,” Saskatchewan Chamber of Commerce CEO, Prabha Ramaswamy said. “With international engagement offices in 9 countries across the world, Saskatchewan is poised to diversify markets, expand market access for businesses, and supply these vital resources to the world. Events like the Food, Fuel, Fertilizer Global Summit showcase the leadership and resilience that make Saskatchewan a steady and trusted partner in uncertain times.”

    In 2024, Saskatchewan’s exports reached over 160 countries, with eight markets that totaled over $1 billion. Last year the province saw international merchandise exports reach $45.4 billion, a top three record for Saskatchewan.

    Private capital investment in Saskatchewan increased last year by 17.3 per cent to $14.7 billion, ranking first among provinces for growth. Private capital investment is projected to reach $16.2 billion in 2025, an increase of 10.1 per cent over 2024. This is the second highest anticipated percentage increase among the provinces.

    Statistics Canada’s latest GDP numbers indicate that Saskatchewan’s 2023 real GDP reached an all-time high of $77.9 billion, increasing by $1.8 billion, or 2.3 per cent. This ties Saskatchewan for second in the nation for real GDP growth and above the national average of 1.6 per cent.

    All of this allows the Government of Saskatchewan to prioritize affordability, health care, education, and safer communities and deliver the services Saskatchewan people need and deserve.

    For more information, visit: InvestSK.ca.

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI United Kingdom: Letter from Business Secretary Jonathan Reynolds to the Prime Minister: 21 February 2025

    Source: United Kingdom – Executive Government & Departments

    Correspondence

    Letter from Business Secretary Jonathan Reynolds to the Prime Minister: 21 February 2025

    Letter from Secretary of State for Business and Trade the Rt Hon Jonathan Reynolds MP to Prime Minister Keir Starmer.

    Documents

    Letter from the Business Secretary Jonathan Reynolds to the Prime Minister – 21 February 2025

    PDF, 65.3 KB, 1 page

    This file may not be suitable for users of assistive technology.

    Request an accessible format.
    If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email publiccorrespondence@cabinet-office.gsi.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

    Details

    Letter from Secretary of State for Business and Trade the Rt Hon Jonathan Reynolds MP to Prime Minister Keir Starmer.

    Updates to this page

    Published 8 April 2025

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    MIL OSI United Kingdom –

  • MIL-OSI USA: Senator Collins Urges Administration to Support Maine Fire Departments Harmed by Tariffs

    US Senate News:

    Source: United States Senator for Maine Susan Collins

    Senator Collins requests fire truck contracts signed by fire departments prior to imposition of tariffs be exempted.

    Washington, D.C. – U.S. Senator Susan Collins sent a letter to Department of Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer, urging the Administration to address the hardship that tariffs will impose on fire departments and businesses in Maine, particularly the tariffs imposed on Canadian metals. She is specifically requesting an exemption for fire truck orders that were under contract between Maine fire departments and a Maine manufacturer prior to President Trump’s February 10, 2025, announcement of Canadian tariffs. 

    “I was recently contacted by K&T Fire Equipment in Island Falls, Maine, a family-owned business that manufactures and sells fire trucks for fire departments in Maine, New Hampshire, and Vermont,” Senator Collins wrote. “The business begin assembly at its facility in Maine by attaching fire apparatuses to truck chasses before sending the trucks to a metal fabricator in Centerville, New Brunswick, Canada, to complete the steel and aluminum fabrication and assembly. The business has operated this way for more than three decades. K&T indicated to me that the proposed tariff on Canadian steel and aluminum would increase the cost of each truck by $80,000-$90,000.”

    “At present, K&T Fire Equipment has contracts for trucks with eight fire departments, with one set to be delivered to the Allagash Fire Department in Allagash, Maine, later this month. K&T’s other contracted departments in Maine include Lamoine, Newfield, Sullivan, Surry, and Somerville. To reduce hardships on fire departments and family-owned companies such as K&T Fire Equipment, I request that the Department of Commerce exempt items that were under contract before President Trump’s announcement on February 10, 2025,” Senator Collins concluded.

    Senator Collins has been a longstanding advocate for Maine firefighters and first responders. Through the Fiscal Year 2024 Appropriations process, Senator Collins secured nearly $31 million for 24 projects across the state that will support local fire and rescue stations, law enforcement, and emergency response services. 

    The complete text of the letter can be read here.

    MIL OSI USA News –

  • MIL-OSI: Brookfield Corporation to Host First Quarter 2025 Results Conference Call

    Source: GlobeNewswire (MIL-OSI)

    BROOKFIELD NEWS, April 08, 2025 (GLOBE NEWSWIRE) — Brookfield Corporation (NYSE: BN, TSX: BN) will host its first quarter 2025 conference call and webcast on Thursday, May 8, 2025 at 10:00am (ET).

    Results will be released that morning before 7:00am (ET) and available on our website at https://bn.brookfield.com/news-events/press-releases.

    Participants can join by conference call or webcast:

    Conference Call

    Webcast

    About Brookfield Corporation

    Brookfield Corporation is a leading global investment firm focused on building long-term wealth for institutions and individuals around the world. We have three core businesses: Alternative Asset Management, Wealth Solutions, and our Operating Businesses which are in renewable power, infrastructure, business and industrial services, and real estate.

    We have a track record of delivering 15%+ annualized returns to shareholders for over 30 years, supported by our unrivaled investment and operational experience. Our conservatively managed balance sheet, extensive operational experience, and global sourcing networks allow us to consistently access unique opportunities. At the center of our success is the Brookfield Ecosystem, which is based on the fundamental principle that each group within Brookfield benefits from being part of the broader organization. Brookfield Corporation is publicly traded in New York and Toronto (NYSE: BN, TSX: BN).

    For more information, please visit our website at bn.brookfield.com or contact:

    Media Investor Relations
    Kerrie McHugh Katie Battaglia
    Tel: (212) 618-3469 Tel: (212) 776-2252
    Email: kerrie.mchugh@brookfield.com  Email: katie.battaglia@brookfield.com

    The MIL Network –

  • MIL-OSI: Solomon Partners Hires Tannon Krumpelman as a Partner in its New Financial Institutions Group

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 08, 2025 (GLOBE NEWSWIRE) — Solomon Partners, a leading financial advisory firm and independent affiliate of Natixis, today announced the appointment of Tannon Krumpelman as a new Partner in its Financial Institutions Group (FIG). FIG is the newest extension to the Solomon platform and the addition of Mr. Krumpelman further demonstrates Solomon’s commitment to this strategically important sector.

    “Tannon will be a tremendous asset to our firm,” said Solomon Partners CEO Marc Cooper. “His proven success advising clients across the financial services sector will be an excellent addition to our growing FIG team.”

    During his more than 25-year career, Mr. Krumpelman has advised on over $250 billion of mergers & acquisitions, strategic financing transactions and other corporate finance assignments for financial services companies and adjacent businesses.

    Before joining Solomon Partners, Mr. Krumpelman was a Senior Managing Director at Evercore, where he helped lead the firm’s financial services advisory practice. Previously, he was a Managing Director at UBS and Goldman Sachs. Mr. Krumpelman earned his ScB in Chemical Engineering from Brown University.

    “We are thrilled to welcome a banker of Tannon’s caliber and expertise to our team,” said Arik Rashkes, Partner and Head of the Financial Institutions Group. “Widely recognized as a preeminent advisor to the financial services sector, Tannon enhances our team’s capabilities and strengthens our commitment to delivering outstanding service to our clients.”

    Mr. Krumpelman commented, “Solomon has developed an incredibly attractive platform to serve clients founded upon straightforward cultural values that mirror my own. I am excited and highly motivated to further contribute to Solomon’s growth by helping to build a world-class financial services advisory franchise with my esteemed FIG partners.”

    About Solomon Partners

    Founded in 1989, Solomon Partners is a leading financial advisory firm with a legacy as one of the oldest independent investment banks. Our difference is unmatched industry knowledge in the sectors we cover, creating superior value with unrivaled wisdom for our clients. We advise clients on mergers, acquisitions, divestitures, restructurings, recapitalizations, capital markets solutions and activism defense across a range of verticals. These include Business Services; Consumer Retail; Distribution; Financial Institutions; Financial Sponsors; FinTech; Grocery, Pharmacy & Restaurants; Healthcare; Industrials; Infrastructure, Power & Renewables; Media; and Technology. Solomon Partners is an independently operated affiliate of Natixis, part of Groupe BPCE. For further information, visit solomonpartners.com.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8f0c33e8-9896-4252-95c6-59d69305b9db

    The MIL Network –

  • MIL-OSI USA: Remarks by Acting Chairman Travis Hill – View from the FDIC: Update on Key Policy Issues

    Source: US Federal Deposit Insurance Corporation FDIC

    CategoriesBusiness, Commerce, MIL-OSI, United States Federal Government, United States Government, United States of America, US Commerce, US Federal Deposit Insurance Corporation FDIC, US Federal Government, US Insurance Sector, USA

    Introduction

    On my first day as Acting Chairman two and a half months ago, I outlined a list of issues on which the FDIC would focus. Today, I will provide an update on a few of those policy issues and describe the agency’s plans for future work in these areas.

    De Novo Bank Formation

    For many years, commentators have been discussing consolidation across the banking industry, as the total number of bank charters has declined from around 8,500 at the start of 2008 to approximately 4,500 today. While much of the focus has been on the role of bank mergers, statistically, the decline in banks since the start of the Great Financial Crisis is less a product of increased merger activity and much more a product of the steep decline in new bank formation. 

    Since 1980, the intercompany merger rate has been fairly consistent, generally moving within a range of 1% to 4% per year, depending on the year. The overall average rate since 1980 is approximately 2.5% per year, while the average rate per year since 2018 is 2.7%.  If we count all charter closings (which also includes failures and intracompany mergers), the average since 1980 is 4.2% per year, while the average since 2018 is 3.4%.  In other words, the decline in banks has been slowing in recent years.  And of course, in absolute terms the annual number of mergers and charter closings has declined dramatically. 

    Meanwhile, the de novo rate has fallen off a cliff.  From 1995 to 2007, the lowest number of new banks established in a year was 93.  Going back a little further, in 1984, 412 new banks formed.  Meanwhile, since the start of 2010, the total number of new banks formed over 15 years is 86, an average of less than 6 per year.  Forty-four of those 86 opened in the four years between 2019 and 2022, a modest but meaningful increase largely attributable to reforms to the process and mindset put in place by Chairman McWilliams. 

    While I do not expect we will get anywhere close to the 100-plus new banks per year of the pre-2008 era, in order to preserve the long-term viability of the community bank model, we need to find ways to encourage more new bank formation, and we are actively considering several ideas to achieve this objective.  One idea we are considering is identifying scenarios in which certain types of applicants may be subject to adjusted standards, including with respect to up-front and ongoing capital expectations. One such type of application might include proposals to open traditional, noncomplex community banks in parts of the country that lack local banks.  Currently, approximately 68 million Americans live in counties that do not have a community bank headquarters.  It might be the case that the benefit a new community bank provides to the “convenience and needs of the community to be served” in regions that lack a community bank presence justifies a more flexible approach to the other statutory factors the FDIC is required to consider.

    We are also reevaluating how we process deposit insurance applications from organizers proposing banks with new or innovative business models.  I recognize there are benefits to bringing some of these firms into the bank-regulated sphere.  For example, a fintech with a large number of deposit accounts may present less risk to the Deposit Insurance Fund (DIF) if it becomes a regulated bank, rather than placing deposits at multiple banks through complex partnership arrangements.  While applicants will still need to meet the full suite of regulatory obligations of being a bank, we will, in collaboration with the chartering authorities, approach these types of applications with an open mind.

    Among the types of deposit insurance applications the FDIC processes are applications from industrial loan companies (ILCs).  At an FDIC Board meeting last summer, I expressed my view that the FDIC should issue a request for information (RFI) or advance notice of proposed rulemaking to ask a comprehensive set of questions addressing issues related to ILC applications. I continue to believe this would be useful, and as a result the FDIC is now actively working on issuing such an RFI.  I recognize that a wide range of stakeholders across the financial services industry have expressed strong opinions on this issue over the years, and I encourage interested parties to provide input once the RFI is released. 

    Overall, deposit insurance remains a special government privilege, and we will maintain rigorous standards for approval in line with our statutory requirements.  But we will do so with an eye towards reestablishing a meaningful pipeline of new entrants into the banking sector.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: EU trade barriers public survey08 April 2025 Local business leaders and organisation representatives are invited to share their EU-trading experiences with the Government of Jersey, as the UK prepares for “EU reset” discussions. The Government’s… Read more

    Source: Channel Islands – Jersey

    08 April 2025

    Local business leaders and organisation representatives are invited to share their EU-trading experiences with the Government of Jersey, as the UK prepares for “EU reset” discussions. 

    The Government’s External Relations department is welcoming comments from Islanders who have imported or exported from/to the EU since 2021, when the UK-EU trade deal came into force. 

    Data will support work on Jersey’s export strategy and assist efforts to reduce barriers to business. Findings will also be discussed with the UK Government, to help inform and support the approach to reset negotiations. 

    The EU Barriers To Business Survey​ is open until close of business on Wednesday 16 April.​

    MIL OSI United Kingdom –

  • MIL-OSI: BexBack Launches Three Exclusive Promotions and Two Innovative Tools to Revolutionize 100x Crypto Futures Trading

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, April 08, 2025 (GLOBE NEWSWIRE) — Amid heightened volatility in the global cryptocurrency market, BexBack, a rapidly growing crypto derivatives exchange, today announced the launch of three major promotional offers alongside two innovative trading tools. These initiatives are designed to empower traders with greater flexibility, enhanced capital efficiency, and a superior trading experience.

    Three Exclusive Promotions to Maximize Traders’ Potential

    • 100% Deposit Bonus
      Users who deposit more than 0.001 BTC or 100 USDT per transaction are eligible for a 100% deposit bonus, instantly doubling their trading margin.
      (Note: The bonus itself cannot be withdrawn directly, but profits earned using the bonus are fully withdrawable.)
    • $50 Welcome Bonus
      New users who complete their first trade (open and close a position) will receive a $50 USDT bonus credited to their USDT-M account. The bonus can be used for trading or withdrawal, providing new traders with extra flexibility at the start of their journey.
    • No KYC Requirement
      Upholding the spirit of decentralized finance, BexBack allows users to register and trade without any identity verification, offering a faster, more private onboarding experience for traders worldwide.

    Two New Trading Tools for a Smarter Crypto Trading Experience

    • 100x Leverage Crypto Futures
       Traders can now access up to 100x leverage on Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), Cardano (ADA), and over 50 additional major cryptocurrencies.
      Whether the market moves up or down, traders can open long or short positions to seize opportunities in any condition, with adjustable leverage settings to suit different risk appetites.
    • Free Real-Time BTC to USDT Conversion
      BexBack introduces a zero-fee BTC/USDT conversion feature, enabling users to switch between Bitcoin and USDT instantly at real-time prices, optimizing asset allocation without incurring extra costs.

    Why Choose BexBack

    • Headquartered in Singapore, Licensed Under U.S. MSB
    • Over 50 Major Crypto Futures Available
    • Cold Wallet Custody to Protect User Funds
    • Zero Deposit Fees and Fast Withdrawals
    • 10 BTC Demo Account for Strategy Testing
    • 24/7 Multilingual Customer Support

    About BexBack?

    BexBack is a leading cryptocurrency derivatives platform that offers 100x leverage on BTC, ETH, ADA, SOL, and XRP futures contracts. It is headquartered in Singapore with offices in Hong Kong, Japan, the United States, the United Kingdom, and Argentina. It holds a US MSB (Money Services Business) license and is trusted by more than 500,000 traders worldwide. Accepts users from the United States, Canada, and Europe. There are no deposit fees, and traders can get the most thoughtful service, including 24/7 customer support.

    Start Trading Smarter Today

    Take advantage of the Double Deposit Bonus, the $50 Welcome Bonus, 100x flexible leverage, and start trading without any KYC requirements.
    Sign up now at www.bexback.com and unlock your full trading potential.

    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. 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. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. 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.Speculate only with funds that you can afford to lose.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.

    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 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/1a4075b9-c14c-4bf3-96d7-48d29aba0a79
    https://www.globenewswire.com/NewsRoom/AttachmentNg/0e3c60ff-6424-4f29-b36f-853b5129c25f
    https://www.globenewswire.com/NewsRoom/AttachmentNg/0a7cdb68-cb0c-491b-9ba2-196ec702c477
    https://www.globenewswire.com/NewsRoom/AttachmentNg/17e78985-c044-449f-ac67-b204c4ce2b26

    The MIL Network –

  • MIL-OSI: QuantalRF Samples Wi-Fi 7 CMOS Front-end Modules to Tier-1 Mobile SoC Players

    Source: GlobeNewswire (MIL-OSI)

    ZURICH, Switzerland, April 08, 2025 (GLOBE NEWSWIRE) — QuantalRF, the pioneering developer of RF semiconductor and antenna solutions, samples its innovative Wi-Fi 7 CMOS front-end module (FEM) to two Tier-1 mobile SoC players. The QWX27120, a 5-7 GHz CMOS FEM designed for Wi-Fi 7, fully integrates a patent-pending power amplifier (PA) architecture, an SP3T switch, and a low-noise-amplifier (LNA) into a monolithic CMOS die. Optimized for Wi-Fi 7 applications in smartphones, AR/VR, tablets, laptops and smart home devices, this all-silicon solution outperforms competing GaAs and SiGe products in power efficiency, size, RF performance, and cost.

    The QWX27120, part of the QuantalRF Elementum™ family of Wi-Fi 7 products, builds on the success of the its predecessors with enhanced features, including a power detector output. Fabricated in CMOS SOI technology, the QWX27120 leverages QuantalRF’s unique PA architecture to reduce power consumption, enabling devices to achieve a longer battery life and reduce heat dissipation. The CMOS FEM also enables a high degree of on-chip configurability, allowing for the versatile reconfiguration for different supply voltages, channels, and linear/non-linear operational modes. Selectable high/low transmit gain modes and digital pre-distortion (DPD) further improve power efficiency.

    “Wi-Fi 7’s advanced features and higher data rates pose significant power consumption challenges,” said Dr. Ali Fard, CEO and CTO of QuantalRF. “Our innovative PA architecture—integrated within a monolithic CMOS SOI platform—delivers superior linear output power and best-in-class power efficiency. With the QWX27120 Wi-Fi 7 FEM now sampling, we are ready to collaborate with more customers to turbocharge their Wi-Fi efficiency with intelligent and adaptive technology.”

    QWX27120 Features & Benefits:

    • Wi-Fi 6E and Wi-Fi 7 compatible – supports 5150–7125 MHz
    • Superior power efficiency – reduces power consumption by up to 50-percent
    • Power detector output – provides real-time power monitoring
    • Ultra-small form factor – integrates all RF front-end components into a single die, available in a 2 x 2mm LGA package or as a flip-chip die.

    Samples and evaluation kits are now available. Contact QuantalRF for more information.

    About QuantalRF AG
    QuantalRF is transforming the RF signal chain for wireless communications to deliver an unmatched user experience. Its ultra-compact, highly configurable front-end ICs and extremely efficient antennas substantially improve area, cost, power, and overall performance. Headquartered in Zürich, Switzerland, with R&D centers in the USA and Sweden, QuantalRF has an extensive portfolio of over 200 patents. For more information, visit www.quantalRF.com.

    Forward-Looking Statements
    This announcement contains forward-looking statements that reflect our current expectations and projections about future events. These statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors that may cause our actual results to differ materially. We undertake no obligation to update any forward-looking statements. A non-exclusive list of risk factors may be found on our website at www.quantalRF.com/forward-looking-statement.

    Media Contact:
    Dave Aichele
    EVP Sales & Business Development
    dave.aichele@quantalrf.com
    +1 858-401-6444

    The MIL Network –

  • MIL-OSI: Bectran Advances Risk Analysis with IRS Based Tax ID Verification System

    Source: GlobeNewswire (MIL-OSI)

    New Integration Provides Secure, Efficient Validation of Business Tax Identification Numbers

    CHICAGO, April 08, 2025 (GLOBE NEWSWIRE) — Bectran, Inc., the industry leader in credit, collections and accounts receivable management technology, today announced a powerful new integration with Cobalt for IRS database verification. This partnership allows businesses to validate Federal Tax Identification Numbers (TINs) directly within the Bectran platform – increasing speed, risk accuracy and fraud prevention in the credit approval and account review process.

    “Traditionally, verifying a Tax ID required manual lookups, or waiting on third-party systems that didn’t always return real-time data” said Louis Ifeguni, CEO of Bectran. “This new integration delivers instant, reliable verification at the source – directly from the IRS – helping our customers evaluate business risk with greater consistency and confidence.”

    Advanced Tax ID Verification and Automated Precision

    TIN and EIN verification is a common requirement in credit applications, but until now the process has often relied on manual checks that can’t confirm accuracy or authenticity. Credit managers frequently encounter risk and inconsistency in credit decisions, but with Bectran and Cobalt’s newest integration, users can leverage a secure and instant verification of tax ID data against official U.S. government records.

    Risk Evaluation and Faster Credit Reviews

    With this integration, credit managers gain access to comprehensive TIN reporting directly through Bectran’s platform. Each report outlines the specific IRS reason and code with clear explanations, helping managers quickly verify results without leaving their workflow. The system performs exact-match validation, comparing the provided TIN/FEIN and legal business name against IRS records. This approach ensures maximum security and accuracy, as attestation only succeeds when both elements perfectly match the official documentation. Verified TIN data feeds directly into the Bectran risk scoring engine, reducing time-to-decision and removing uncertainty from the approval process.

    To further enhance fraud protection, Bectran flags discrepancies between submitted tax information and official records, triggering real-time fraud alerts – all within the same platform.

    About Bectran

    Bectran is the premier SaaS platform for Finance Departments, akin to CRM for Sales. Trusted by diverse organizations, from SMEs to Fortune 500 companies, we streamline credit processing by over 98%, reducing credit defaults and collection costs. Many businesses rely on Bectran for efficient Accounts Receivable and Collections management, achieving up to 95% cost savings. With rapid onboarding in days, our platform is hailed by credit professionals as the future of credit management. Visit Bectran.com to learn more about financial solutions for your industry.

    The MIL Network –

  • MIL-OSI USA: Governor Lamont Announces Victory Parade and Rally Honoring UConn Women’s Basketball Scheduled for This Saturday in Hartford

    Source: US State of Connecticut

    (HARTFORD, CT) – Governor Ned Lamont today announced that the State of Connecticut, the City of Hartford, and the Hartford Business Improvement District will host a victory parade and rally in downtown Hartford on Saturday, April 12, 2025, to congratulate the UConn women’s basketball team for winning the 2025 NCAA National Championship.

    The team won its twelfth national title after an 82-59 victory over the South Carolina Gamecocks at Amalie Arena in Tampa, Florida. UConn women’s basketball has now won the NCAA championship in 1995, 2000, 2002, 2003, 2004, 2009, 2010, 2013, 2014, 2015, 2016, and 2025.

    The parade will begin at 11:00 a.m. and will step off at the State Capitol building at the intersection of Trinity Street and Elm Street. From there, it will proceed north on Trinity Street, go through the Soldiers and Sailors Memorial Arch, turn right (east) onto Jewell Street, turn left (north) onto Trumbull Street, and end at the intersection of Asylum Street and Trumbull Street.

    The rally will begin at approximately 11:30 a.m. and will be held outside of the main entrance of the XL Center on Trumbull Street, where the players, coaches, and other guests will be invited to give speeches.

    “The UConn women’s basketball team has proven that they are the best in the nation, and now it’s time for Connecticut to give them the victory celebration they have earned,” Governor Lamont said. “The student athletes on this team have worked very hard and they deserve to know how much we appreciate everything they’ve accomplished. I urge basketball fans from all over Connecticut to come to Hartford on Saturday morning and let them know just how proud we are of our hometown team.”

    As with other victory celebrations that have been held in previous years, this parade and rally are being funded by private donations through sponsorship opportunities. No state or city funding is being used for this event.

    To sponsor this event, businesses may choose from several sponsorship levels up to $10,000. Those interested in sponsorship opportunities should contact Chip McCabe at the Hartford Business Improvement District as soon as possible at 860-770-0788 or cmccabe@hartfordbid.com.

    MIL OSI USA News –

  • MIL-Evening Report: Cities that want to attract business might want to focus less on financial incentives and more on making people feel safe

    Source: The Conversation (Au and NZ) – By Kaitlyn DeGhetto, Associate Professor of Management, University of Dayton

    To attract business investment, American cities and states offer companies billions of dollars in incentives, such as tax credits. As the theory goes, when governments create a business-friendly environment, it encourages investment, leading to job creation and economic growth.

    While this theory may seem logical on its face, it’s a bit of a chicken-and-egg situation. Business investment follows employees, not just the other way around. In fact, our research suggests workers care less about whether a city has business-friendly policies and more about how safe they feel living in it. And interestingly, we found that politics influence people’s risk perceptions more than hard data such as crime statistics.

    Our findings have major implications for cities and businesses. If people choose where to live and work based on perceived safety rather than economic incentives, then entrepreneurs and city leaders may need to rethink how they approach growth and investment.

    The many faces of risk

    We are management professors who surveyed more than 500 employees and entrepreneurs from across the country to better understand how they rate 25 large U.S. cities on various dimensions of risk.

    We asked about three different types of risk: risk related to crime, government function and social issues. Risk related to government function includes corruption and instability, while risk related to social issues includes potential infringements on individual rights.

    We found that people’s views of risk weren’t driven primarily by objective statistics, such as FBI crime data. Instead, they were shaped by factors such as media representations, word of mouth and geographic stereotypes.

    For example, studies suggest that crime in Denver has been rising, and U.S. News and World Report recently ranked it as the 10th most dangerous city based on FBI crime reports. However, the employees and entrepreneurs we surveyed ranked Denver as the safest city in the country.

    It’s all politics

    We found that political perspectives were the main factor biasing the rankings. For example, conservative-leaning employees and entrepreneurs believed that Portland, Oregon, is dangerous, ranking it as America’s ninth-riskiest city. In contrast, those who are liberal-leaning ranked it as the second-safest city in the country.

    Both of these beliefs can’t be accurate. Instead, when basing the ranking on objective crime data from the FBI, U.S. News ranked Portland the 15th most dangerous city in the country.

    When assessing risk related to how the government functions, conservatives praised politicians in Nashville, Charlotte and Dallas, while the liberals praised those in Denver, Minneapolis and Portland. Similarly, when considering risk related to social issues, conservatives said New York City, Los Angeles and San Francisco were “risky,” while the liberals said Tampa, Miami and Houston should be avoided.

    Our findings also suggest that political perspectives influence the types of risk that employers and employees care about. For example, conservatives tend to care more about crime-related risk than liberals, and liberals care more about risk related to social issues.

    Now what?

    We’re not advocating that city leaders drop financial incentives altogether, or that employers ignore them. Evidence suggests that financial incentives and other business-friendly policies may be effective at attracting businesses and strengthening local economies.

    However, our research suggests that when individuals are making important life decisions about where to live, work and invest, a city’s level of risk matters. Importantly, beliefs about risk are subjective and are biased by political perspectives.

    In our view, city leaders must recognize and address concerns about crime, governance and social issues while actively working to improve public perceptions of their cities. Likewise, businesses may want to consider investing in cities that are less politically polarized when making investment decisions.

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

    – ref. Cities that want to attract business might want to focus less on financial incentives and more on making people feel safe – https://theconversation.com/cities-that-want-to-attract-business-might-want-to-focus-less-on-financial-incentives-and-more-on-making-people-feel-safe-250247

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI United Kingdom: Stoke-on-Trent aiming to break world record as it hosts Big Centenary Tea Party

    Source: City of Stoke-on-Trent

    Stoke-on-Trent is set to brew up something special this summer as part of its Centenary celebrations – with communities across the city invited to take part in a history-making Big Centenary Tea Party

    The event, which takes place at 11am on Monday, 8 July, will bring residents, businesses, schools and other organisations together for a shared moment of celebration – and the chance to break a world record.

    The event, supported by a wide partnership of local organisations, will see tea parties hosted across the city and beyond, in honour of Stoke-on-Trent’s 100 years of city status. From local parks and community halls to care homes, schools and office spaces, the Big Centenary Tea Party is set to bring communities together in celebration of the Centenary.

    The tea party is being arranged by organisations including YMCA North Staffordshire, Staffordshire Chambers of Commerce, the Community Foundation for Staffordshire, Made in Stoke, Stoke-on-Trent College, VAST, and Stoke-on-Trent City Council, with support from the Ambassador Theatre Group and a wide range of local partners.

    Steve Adams, Chief Executive of Community Foundation for Staffordshire and Shropshire, said: “We’re thrilled to be part of the Big Centenary Tea Party and bringing everyone together to celebrate our wonderful, shared history. Let’s use this world record attempt to dream big and work together to make the next 100 years just as incredible!”

    Nicky Twemlow, Community & Partnerships Director YMCA North Staffordshire, said: “We are delighted to be involved in the Big Centenary Tea Party and will be supporting the World Record attempt. Stoke-on-Trent is a brilliant city, and this feels a perfect way to honour the cities 100-year celebrations and bring communities together.”

    Hassan Rizvi, Principal and CEO of Stoke on Trent College, said: “Stoke on Trent College is delighted to be supporting the Big Centenary Tea Party. This is an opportunity to bring our staff together and celebrate 100 years of Stoke-on-Trent in style.”

    Lisa Healings, Chief Executive of VAST, said: “The Big Centenary Tea Party is a fantastic opportunity for communities to come together to build relationships and to celebrate, not only the history of our city, but also its future potential.”

    The Lord Mayor of Stoke-on-Trent, Councillor Lyn Sharpe, said: “This is going to be a fun-filled event involving so many people from across our city.

    “I can’t wait to sit down, enjoy a friendly chat with others and tuck into a tasty cream tea. Our city’s tea sets are famous all over the world so I can’t think of a better way for us to get together for a brew in Stoke-on-Trent than this.”

    “Many organisations are working behind the scenes to make this special event attempt happen as part of our centenary year celebrations. I’d like to thank them for pulling it all together.

    “There is still time to take part, and you’ll help us get one [step] closer to possibly beating the record. If this happens, you’ll be able to tell your friends and family forever more, ‘I’m a record breaker!’”

    Tom Nadin, Head of Projects at Staffordshire Chambers of Commerce, said: “Staffordshire Chambers are proud to support The Big Centenary Tea Party – a brilliant celebration of community spirit, connection and 100 years of making a difference. It’s an opportunity to show how important it is to bring people together, and what better way than over a cuppa and a slice of cake!”

    Dwain Mcdonald, Executive Lead at Made In Stoke, said: “This is more than just a tea party; it’s a testament to the spirit of our community.  We are inviting everyone from our oldest residents to our youngest students to join us in creating a moment in history.”

    The world record attempt aims to gather the largest number of people taking part in a simultaneous cream tea party across multiple venues. From garden gatherings and office events to street parties and family get-togethers, every cup of tea will count toward making history.

    For more information on the Big Centenary Tea Party go to: https://staffordshirechambers.co.uk/tea-party/  

    Or email: teaparty@staffordshirechambers.co.uk or hello@madeinstoke.com

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Wolverhampton business grants expressions of interest window now open

    Source: City of Wolverhampton

    It is likely the average grant available will be up to £20,000 for projects costing £40,000 or more.

    Higher grants could be available depending on the impact of the investment – but grants will be capped at no more than 50% of the project cost.

    Previous grants have supported the purchase of items such as vertical lathes, laser cutters, cold rolling machines, CNC tube bending and forming machines, and polymer sorting machines.

    Funding will come from the UK Shared Prosperity Fund (UKSPF).

    The latest grants were today (Tuesday) launched at a free Business Support Roadshow – supported by Business Growth West Midlands – at Molineux Stadium.

    Full details of grant eligibility, impact measures and the application processes, along with details of some of the other new business support programmes, can be found at Business Growth Wolverhampton.

    The window for expressions of interest in the grants will close on 30 April, 2025.

    Councillor Chris Burden, City of Wolverhampton Council Cabinet Member for City Development, Jobs and Skills, said: “In Wolverhampton, we are utilising the UKSPF funds to support SMEs in maximising their offer and capitalising on opportunities being generated by investment in our city.

    “For those businesses who couldn’t make it to the roadshow I would urge them to head to the business growth webpage and find out exactly what funding is available to them.

    “Support is in place to help guide businesses through the process to access these grants.”

    Applications for the grants are on a competitive basis, subject to availability of funds, and distributed at the discretion of the council.

    If you need help with your grant application or have a general query, you can get in touch by emailing business.development@wolverhampton.gov.uk or calling the business support phone line on 01902 555572 between 9am and 5pm from Monday to Thursday or from 9am to 4.30pm on Fridays.

    MIL OSI United Kingdom –

  • MIL-OSI USA: Norton Introduces Bill to Allow D.C. to Submit Legislation to Congress Electronically

    Source: United States House of Representatives – Congresswoman Eleanor Holmes Norton (District of Columbia)

    WASHINGTON – Congresswoman Eleanor Holmes Norton (D-DC) today introduced a bill to amend the District of Columbia Home Rule Act (HRA) to permit the Chairman of the Council of the District of Columbia to transmit legislation to Congress in the form of the Chairman’s choosing, including electronic form. This bill seeks to modernize the method D.C. legislation is transmitted to Congress for the congressional review period.

    The HRA requires that D.C. legislation be transmitted to Congress for a congressional review period before the legislation can take effect. While the HRA does not specify the method that the Chairman must use to transmit the legislation, House and Senate precedent require that the legislation be physically transmitted to the Speaker of the House and the President of the Senate. 

    Norton has also introduced legislation to eliminate the congressional review period for D.C. legislation.

    “While I do not believe there should be a congressional review process for D.C. legislation, the current requirement that D.C. physically transmit its legislation imposes unacceptable costs on both the Council and Congress,” Norton said. “The D.C. Council currently engages in a burdensome 12-step process to physically transmit legislation, including printing two copies of each bill and committee report, arranging a time for delivery of these documents to the offices of the Speaker and President of the Senate and having two staffers drive to the Capitol to deliver the documents—two are necessary because of parking restrictions. It’s time to bring this onerous process up to date and allow D.C. to use current technology to transmit its legislation to Congress.”

    Norton’s introductory statement follows.

    Statement of Congresswoman Eleanor Holmes Norton

    on the Introduction of the District of Columbia Electronic Transmittal of Legislation Act

    April 7, 2025

    Today, I introduce the District of Columbia Electronic Transmittal of Legislation Act, which would permit the Chair of the Council of the District of Columbia to transmit legislation to Congress in the form of the Chair’s choosing, including electronic form.  This bill would bring the congressional review process for legislation enacted by D.C. into the electronic age.  In the 117th Congress, the Committee on Oversight and Reform passed this bill. 

    While I do not believe there should be a congressional review process for D.C. legislation—and I have introduced a bill to eliminate the review process—this bill would not change the review process, except that it would give D.C. flexibility in the form it transmits legislation to Congress.  This bill’s only purpose is to reduce administrative burdens on D.C. and Congress.

    The D.C. Home Rule Act requires the Chair of the D.C. Council to transmit legislation to Congress for a review period. The legislation takes effect upon the expiration of the review period, unless a resolution of disapproval is enacted into law during the review period.  The Home Rule Act is silent on the form of transmittal, but Congress has always required the legislation to be physically transmitted.

    Electronic records are recognized as valid under federal and state law, and federal, state and local governments conduct official business electronically.  For example, under the Electronic Signatures in Global and National Commerce Act, which was enacted into law more than 20 years ago, with respect to any interstate transaction in which the parties consent, “a signature, contract, or other record relating to such transaction may not be denied legal effect, validity, or enforceability solely because it is in electronic form.”  In 2002, the E-Government Act, which facilitated the federal government providing information and services to the public electronically, was enacted into law.

    Federal agencies transmit regulations and other documents to the Federal Register electronically.  Congress is also capable of conducting official business electronically. For example, the House permits Members, including acting through their staff, to introduce legislation and submit statements into the Congressional Record electronically. 

    The requirement that D.C. physically transmit legislation imposes costs on the Council.  The Council engages in a 12-step process to physically transmit legislation, including printing two copies of each bill and committee report, arranging a time for delivery of these documents to the offices of the Speaker and President of the Senate and having two staffers drive to the Capitol to deliver the documents—two are necessary because of parking restrictions.

    The physical transmittal process also imposes costs on Congress.  The following congressional offices and committees are involved in the physical transmittal process: the offices of the Speaker and President of the Senate, the House and Senate parliamentarians, the House Clerk, the Senate Secretary, the House Committee on Oversight and Accountability and the Senate Committee on Homeland Security and Governmental Affairs.

    The aftermath of the January 6, 2021, attack on the Capitol highlighted the burdens of physical transmittal.  After temporary fencing was installed around the Capitol, D.C. employees could not enter the Capitol.  This delayed transmittal of D.C. legislation until Council and congressional staff developed a workaround, which consisted of staff meeting outside the fencing to transmit legislation.

    I recognize that Congress requires all so-called executive communications, including D.C. legislation, to be physically transmitted, but D.C. is the only entity required to transmit legislation to Congress for a review period. 

    I urge my colleagues to support this bill.

    ###

    MIL OSI USA News –

  • MIL-OSI Security: Washington Man Sentenced to 17 Years in Prison for Murder on the Colville Reservation

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (c)

    Spokane, Washington – Acting United States Attorney Richard R. Barker announced that United States District Judge Thomas O. Rice sentenced Steven Joseph Zacherle, age 38, to 204 months in prison for Second Degree Murder in Indian Country and Threats in Interstate Commerce. Judge Rice also imposed 5 years of supervised release and restitution payable to the Colville Confederated Tribes for the murder victim’s funeral expenses.

    According to court documents and information presented at the sentencing, on the evening of October 18, 2022, Zacherle was in a domestic dispute with his intimate partner (Victim 1) near a gas station on the Colville Indian Reservation. During the dispute, Victim 1 drove away from the area without Zacherle, who had gone inside a nearby store.

    When Zacherle realized Victim 1 had left him, he began calling and texting her, demanding she return, or he was going to “kill” and “hurt people.” About the same time as Zacherle was making these threats to Victim 1, Dion Boyd, an elder within the Colville Tribe, exited the nearby gas station. Zacherle and Mr. Boyd walked the same direction for a short distance. Zacherle then attacked Mr. Boyd, striking him in the head.

    Within minutes of that attack, Zacherle called Victim 1 and referenced the assault, bragging that he had knocked someone out.  He then asked Victim 1 whether she wanted to see what Zacherle had done.  Victim 1 reported that she could hear garbled breathing and snorting on the phone line.

    Shortly after the assault, Omak Police and first responders located Mr. Boyd, who was unresponsive and face down, bleeding from his head. Medical providers later determined Mr. Boyd was braindead and that Mr. Boyd would never recover from the injuries Zacherle inflicted. Mr. Boyd’s family spent the next twenty days at Mr. Boyd’s bedside in the hospital hoping for a miracle, but Mr. Boyd ultimately died as a result of the injuries sustained in the assault.  The Medical Examiner determined Mr. Boyd suffered a severe brain hematoma and cracked skull because of the unprovoked attack.

    “My heart goes out to the Boyd family, who have suffered so much pain as a result of Mr. Zacherle’s unprovoked attack,” stated Acting U.S. Attorney Barker. “My office is fully committed to working federal, state, local, and Tribal leaders to fully prosecuting violent crimes on Tribal land. The victims and survivors of these terrible crimes deserve nothing less.”

    At sentencing, MMIP AUSA Bree Black Horse explained “Mr. Boyd’s family and friends have uniformly described Mr. Boyd as a kind, generous person who helped raise his younger siblings and later his own children. Mr. Boyd also served his Tribe as an IT technician, ensuring Colville Tribal members living in rural areas could have cell service.”

    In recommending the Court impose a 17-year sentence, MMIP AUSA Black Horse explained “Mr. Boyd’s violent and senseless death at the hands of Zacherle has severely impacted the large family Mr. Boyd has left behind. And, Mr. Boyd is now among the disproportionate number of murdered Indigenous people and Mr. Boyd’s family has joined the ranks of too many other MMIP families throughout Eastern Washington and elsewhere.”

    “This appalling attack was truly senseless.” said W. Mike Herrington, Special Agent in Charge of the FBI’s Seattle field office. “Mr. Zacherle displayed a shocking disregard for the value of human life when he took his frustrations out on an innocent bystander, recklessly costing that person his life.  The Colville Indian Reservation is a safer place with him off the streets.”

    This case is part of the Department of Justice’s Missing or Murdered Indigenous Persons (MMIP) Regional Outreach Program, which aims to aid in the prevention and response to missing or murdered Indigenous people through the resolution of MMIP cases and communication, coordination, and collaboration with federal, Tribal, state, and local partners.  The Department views this work as a priority for its law enforcement components.  Through the MMIP Regional Outreach Program, a broad spectrum of stakeholders work together to identify MMIP cases and issues in Tribal communities and develop comprehensive solutions to address them.

    This case was investigated by the FBI and the Colville Tribal Police Department. It was prosecuted by Acting United States Attorney Richard R. Barker and Missing or Murdered Indigenous Persons Assistant United States Attorney Bree R. Black Horse.

    2:23-cr-00007-TOR

    MIL Security OSI –

  • MIL-OSI Europe: Piero Cipollone: Empowering Europe: boosting strategic autonomy through the digital euro

    Source: European Central Bank

    Introductory statement by Piero Cipollone, Member of the Executive Board of the ECB, at the Committee on Economic and Monetary Affairs of the European Parliament

    Brussels, 8 April 2025

    It is a privilege to be here today to continue our discussion on the digital euro.

    There are many compelling arguments in favour of introducing a digital euro, and in my view they all converge on one fundamental principle: strengthening Europe’s strategic autonomy.

    Today I would like to discuss what strategic autonomy in day-to-day payments means in practice, looking at both the key role of cash and the benefits of a digital euro.

    Faced with a less predictable international environment, it is now time to take concrete action.

    Retail payments are becoming increasingly digital.[1] Consumers are increasingly choosing to use digital means of payment in shops, and they are also making ever more purchases online. Yet, a significant share of these transactions depend on non-European providers. Today, people in 13 euro area countries rely solely on international card schemes or mobile solutions for in-shop payments.[2] And even where national card schemes exist, they rely on co-badging with international card schemes to enable cross-border payments within the euro area. In the not so distant future, this could evolve into dependence on other private means of payment, for instance foreign stablecoins.

    Excessively relying on foreign providers undermines our resilience and compromises our monetary sovereignty.[3] It also underscores the urgent need for a digital euro. Failing to act would not only expose us to significant risks, but also deprive us of a great opportunity.

    The vital role of cash in ensuring financial inclusion and resilience

    Despite the rapid digitalisation of retail payments, cash remains a cornerstone of the European financial system and is currently our only sovereign means of payment.

    The continued strong demand for cash[4] highlights the importance of ensuring that it remains a convenient, secure and universally accepted means of payment and store of value.

    Cash ensures financial inclusion, but it also plays a crucial role in maintaining the resilience of our payment systems and economies. In times of crisis, for example during cyberattacks or power failures, cash provides a reliable fall-back option. We have also seen this during the natural disasters that have affected parts of the euro area over the past year.

    Against this background, the Eurosystem is fully committed to ensuring that cash remains a widely available and accepted means of payment for everyone in Europe. We have implemented a comprehensive cash strategy[5], and we are redesigning euro banknotes to make them fit for the future.

    Moreover, the ECB strongly welcomes the proposed regulation governing the legal tender status of euro banknotes and coins. As we explained in our opinion, the regulation should clearly prohibit ex ante unilateral exclusions of cash by retailers or service providers. It should also ensure that Member States will hold the banking sector responsible for providing essential cash services to both private and corporate customers, ensuring good access to facilities for withdrawing and depositing euro cash across the euro area.[6]

    The need to enhance Europe’s strategic autonomy in digital payments in a changing geopolitical environment

    However, we must also ensure that Europeans have a secure and reliable digital means of payment that complements cash and extends its key benefits to the digital sphere. The growing preference for digital payments means that the acceptance and the availability of cash are no longer sufficient to cover a growing share of use cases. For example, online shopping accounts for more than one-third of our retail transactions, but cash cannot be used online and it is often not possible to pay using a European payment service[7], meaning we need to rely on non-European payment systems. This is a structural weakness that we need to address.

    Europe cannot afford to rely excessively on foreign payment solutions. Doing so makes us dependent on the kindness of strangers in a context of heightened geopolitical tensions. The urgency of preserving our autonomy in defence and energy is already extremely clear. But ensuring autonomy for essential services like daily payments is just as urgent. Without it, we are vulnerable to geopolitical threats and risk losing our monetary sovereignty. Recent international developments underscore these risks.

    Meanwhile, our reliance on foreign payment providers weakens our economic potential and our ability to compete. Owing to the fragmented payments market, European payment service providers often lack the scale to offer their services across the EU. This plays into the hands of non-European providers that can offer their services at the European level, and even internationally.

    Our fragmented market structure also comes with a large price tag. But it does not have to be this way – we have the power to decide how unified our payments market should be.

    Data show that domestic card schemes are losing market share across Europe[8], while international schemes charge high fees to European banks and merchants.[9]

    And the growing popularity of digital wallets like PayPal or Apple Pay is exposing European banks to further outflows of fees and data.

    Most recently, the measures taken by the new US Administration to promote crypto-assets and US dollar-backed stablecoins raise concerns for Europe’s financial stability and strategic autonomy. They could potentially result not just in further losses of fees and data, but also in euro deposits being moved to the United States and in a further strengthening of the role of the dollar in cross-border payments. At the same time, private businesses are increasingly open to accepting stablecoins for customer payments, which could have far-reaching implications for monetary sovereignty.[10]

    Faced with these challenges, we need a public-private partnership to retain our sovereignty. The digital euro – as a sovereign European means of payment based on EU legislation – would be the cornerstone of this partnership.

    It would ensure that the euro area retains control over its financial future. By offering a secure and universally accepted digital payment option which would be suitable for all use cases – and, crucially, under European governance – it would reduce our dependence on foreign providers. And it would limit the potential for foreign currency stablecoins to become a common medium of exchange within the euro area.[11]

    The digital euro would provide European consumers with a simple and safe digital payment option, free for basic use, that covers all their payment needs everywhere in the euro area while ensuring their privacy.[12] It would also protect European merchants from excessive charges imposed by international card schemes and put them in a stronger position to negotiate fees with these schemes.[13]

    In addition, the digital euro could be used offline, making our daily payments more resilient as both consumers and merchants would still be able to use the digital euro without a network connection.

    And, importantly, the digital euro would enable European payment service providers to operate autonomously once more.[14] The digital euro would not compete with private initiatives. Instead, it would exploit synergies and enable private initiatives to scale up more easily across the EU. This would help overcome the hurdles that have led to the current fragmentation.

    One example of these synergies is offering an integrated solution that enables private initiatives to provide services across the euro area and effectively cover all use cases thanks to the common digital euro standards.

    This would mean that people would not have to look for alternative foreign payment solutions. European banks would be able to retain their customers and be adequately compensated for their services.

    The world of payments is changing fast, which is why it is crucial to move forwards with the digital euro legislation now.

    The consequences of inaction are becoming increasingly apparent. Inaction could lead to a loss of control over our financial infrastructure, increased reliance on foreign systems and potential disruptions to our banking and credit systems. Delaying the digital euro would slow down our collective public-private response to these risks. European citizens are relying on us to secure Europe’s chance to drive change rather than watch from the sidelines.

    Digital euro project on track

    Let me now focus on the technical progress of our project.

    The legal framework is crucial in shaping how the digital euro operates, including its status as legal tender and how privacy is protected. In parallel, the digital euro project is progressing according to schedule and we are nearing the end of the preparation phase.[15]

    Together with market participants we are working on the digital euro rulebook – a single set of rules, standards and procedures for digital euro payments.[16] You have previously asked about the benefits a digital euro would have for the private sector. This rulebook will enable European payment providers to expand their services across the euro area by capitalising on the open standards and legal tender status of the digital euro. As soon as the legislation is adopted by the co-legislators, these standards can be finalised and market participants can use them, even before the potential issuance of a digital euro.[17] This would frontload the benefits for both merchants and consumers. Later this week we will publish an update on the progress we have made on developing the rulebook.

    It is vital that the digital euro ensures the stability of the financial system – we have heard your concerns on this topic, and it is one of our key priorities. As I mentioned the last time we met, we are currently developing the methodology that builds a solid analytical base to determine the digital euro holding limit.[18] This methodology is based on the three pillars indicated in the draft legislation – usability, monetary policy and financial stability. We are building on the feedback we have received from all market stakeholders, and we aim to publish the results in the summer. Preliminary findings already indicate that using the digital euro for daily payments will not harm financial stability, banking supervision or monetary policy.

    This public-private effort to regain our autonomy in the retail payment space will be more likely to succeed if it also fosters innovation, as some of you have mentioned previously. Therefore, last October we issued a call for expressions of interest in innovation partnerships for the digital euro.[19] The primary goal is to experiment with conditional payments and other innovative use cases. For example, we are exploring the possibility of allowing people to pay only if a given service is provided, thereby avoiding lengthy and uncertain reimbursement procedures.

    We have seen a lot of interest from various market sectors, with around 100 applicants wanting to experiment further with new use cases and technological solutions.[20] These innovation partnerships will ultimately benefit all digital euro providers and users. Providers will be able to expand their customer and revenue bases, while users will benefit from innovative payment options.

    In addition, technical work on privacy, offline functionality and operational resilience is progressing well. We are also in the middle of the procurement process to establish framework agreements with possible future providers of digital euro services.[21]

    Finally, we are conducting comprehensive user research to gather actionable insights into user preferences and ensure that the digital euro offers people clear benefits.[22] This is something you also raised in the European Parliament’s recent resolution on the ECB’s Annual Report.[23]

    Conclusion

    Let me conclude.

    The time to act is now. Making progress on both the digital euro regulation and the regulation on the legal tender status of cash has become urgent if we are to increase our resilience to possible disruptions and reverse our ever-increasing dependence on foreign companies.

    We have been highlighting the importance of Europe’s strategic autonomy since the very beginning of the digital euro project.[24] The good news is that both the co-legislators and the ECB have been working hard on this issue in recent years.

    This is a public-private common European project, and as co-legislators you are central to making it happen. Now is the moment to make Europe’s strategic autonomy in the critical area of payments a reality.

    For the digital euro to be successful, we need robust and forward-looking legislation. The ECB stands ready to support you with technical input as your deliberations progress, and we will of course continue to update you on the progress we are making.

    In a fast-changing world, let’s show all Europeans that we respond to challenges head-on, protect our currency and guarantee people’s freedom to pay as they choose.

    Thank you for your attention.

    MIL OSI Europe News –

  • MIL-OSI Economics: Samsung Announces Collaboration with Stanford Medicine to Advance Sleep Apnea Detection and Beyond

    Source: Samsung

    Samsung Electronics Co., Ltd. and Stanford University today jointly announced a research project with Stanford Medicine to initiate an innovative health solution based on Samsung’s obstructive sleep apnea (OSA) feature1 which has received De Novo — the first of its kind authorization — by the United States Food and Drug Administration (FDA). In recognition of World Health Day, this project underscores the importance of sleep in overall health by taking further steps in proactive care, beginning with a pioneering study.
    Led by professor Robson Capasso as principal investigator and professor Clete Kushida as co-principal investigator, the joint study is designed to explore potential ways to further enhance Samsung’s Sleep Apnea feature to better support sleep health through timely interventions. Looking ahead, efforts will focus on going beyond detection by leveraging AI technology for daily monitoring to sleep apnea management, empowering users with the best possible sleep tools to improve their health.

    Samsung’s Sleep Apnea feature on the Galaxy Watch2, which detects signs of moderate to severe obstructive sleep apnea, previously received authorization by the US FDA following approval by Korea’s Ministry of Food and Drug Safety (MFDS). With its latest approval by Brazil’s National Health Surveillance Agency (ANVISA), the feature will become available to users in Brazil in late April, increasing availability to 29 markets globally. The Sleep Apnea feature will continue to be expanded to more countries around the world, allowing more people to proactively spot symptoms earlier, which help prevent further long-term OSA health-related complications.
    “The ethical, equitable and evidence-based use of technology, after its validation through research is crucial in developing new approaches to detection and management of sleep apnea and other serious sleep-related health conditions,” said Robson Capasso, MD, FAASM, Chief of Sleep Surgery, Professor of Otolaryngology and Head and Neck Surgery, former Associate Dean of Research, Stanford University School of Medicine. “We are excited about this groundbreaking collaboration and proud to be initiating a study utilizing smartwatches, a friendly and commonly accepted wearable”
    “This collaboration with Stanford Medicine will combine our deep technological expertise with Stanford’s leading research capabilities to unlock new innovation in preventive care,” said Dr. Hon Pak, Senior Vice President and Head of the Digital Health Team, Mobile eXperience Business, Samsung Electronics. “Together, we aim to move beyond screening to also provide more meaningful daily support that helps people better understand and manage their sleep health.”

    MIL OSI Economics –

  • MIL-OSI Global: The founder kings of Silicon Valley: Dual-class stock gives US social media company controllers nearly as much power as ByteDance has over TikTok

    Source: The Conversation – USA – By Gregory H. Shill, Professor of Law & Michael and Brenda Sandler Faculty Fellow in Corporate Law, University of Iowa

    When Congress passed a law in 2024 to ban TikTok unless it came under U.S. ownership, lawmakers argued that the app’s Chinese parent company posed national security concerns. The Trump administration, which had granted the viral video app a reprieve shortly after taking office in January 2025, extended that pause again on April 4 after the Chinese government reportedly scuttled a planned deal.

    Regardless of how this all shakes out, the TikTok fight underscores deeper concerns about who controls social media in the United States.

    Given that worry, it might surprise Americans to learn that nearly every social media giant is controlled by just one or two men. For example, Mark Zuckerberg controls Meta, which owns Facebook, Instagram and WhatsApp, while Larry Page and Sergey Brin control Alphabet, which owns YouTube and Google.

    What does “control” mean? These companies are publicly traded – anybody can buy or sell their shares – but a legal mechanism known as dual-class stock gives founders extra votes in shareholder decisions. The dual-class structure crowns these men “corporate royalty,” as one former U.S. Securities and Exchange Commission commissioner has put it, granting them near-absolute control of corporate policy and resources without requiring them to take on commensurate financial risk.

    While TikTok is unusual in many respects, the way it vests power in one man is actually quite banal. TikTok’s parent company, ByteDance, is privately held, but it’s reportedly controlled by a co-founder, Chinese national Zhang Yiming, via a dual-class structure.

    As a professor of corporate law, I’d urge policymakers and the public to consider the societal risks of a system that allows a single person to wield full control over a major corporation through dual-class stock.

    The dual-class effect: Meta as a case study

    In a standard single-class structure – where voting power tracks the amount of company equity a shareholder owns – someone seeking total control of a company must ordinarily spend a lot of money buying up shares, which also means assuming a lot of risk. This “skin in the game” requirement limits how much influence a single person can exert on a company.

    That safeguard is informal, not mandatory, and dual-class structures do away with it. Ascendant among Silicon Valley firms since Google’s 2004 initial public offering in the U.S. and recently legalized in the U.K., the dual-class model is fiercely debated in corporate governance circles. To date, however, its downsides have been understood only as a problem for shareholders, not society, despite broad and bipartisan concern about the influence of Big Tech.

    Let’s pick on Meta as an example. Zuckerberg reportedly owns just 13.5% of the company’s equity, but because he owns 99.7% of the supervoting shares, he controls 61% of the company’s votes.

    This setup gives him a lock on corporate policy as a controlling shareholder, even though he only owns a bit over one-eighth of Meta stock by value. He has full control of the company without placing anywhere near an equivalent amount of money at risk.

    You don’t have to be the parent of an Instagram-addicted teenager to see that Meta has generated what might be described as social costs. For example, Amnesty International has alleged that Facebook algorithms “substantially contributed to the atrocities perpetrated by the Myanmar military” in 2017. Facebook has also been criticized for promoting misinformation during past U.S. elections and for suppressing embarrassing stories about Hunter Biden.

    These examples underscore broader social concerns around content moderation, privacy and tech titans’ outsized political influence. Notably, Zuckerberg – who has been associated with progressive causes in the past – has moved to embrace President Donald Trump strongly in recent months and asked for Trump’s support for Meta in a legal battle with the European Union.

    When corporate control meets the Supreme Court

    In a 2023 law journal article, I noted that recent Supreme Court decisions expanding corporate constitutional rights stand to give company founders unprecedented power to shape society. While the rise of founder-controlled social media giants with distinct political agendas has gotten a lot of attention, the widening scope of what is deemed protected corporate speech and religious exercise hasn’t been a part of that conversation.

    I think there’s a real possibility that these two streams will converge, granting constitutional protection to “founder kings” who wish to leverage company resources for private agendas. Two recent legal developments raise the stakes.

    First, the courts – and in particular the Supreme Court under Chief Justice John Roberts – have been expanding corporate constitutional rights, which could allow dual-class founders to carve out exceptions to generally applicable laws.

    Second, recent legal changes in Delaware – which despite its tiny size is the leading corporate law jurisdiction in the U.S. – could make it easier for dual-class controlling shareholders to exercise power within their companies.

    To get a sense of the potential consequences, suppose the controlling shareholder of a dual-class company were to cause it to defy a federal mandate – for example, a requirement to offer health insurance plans that cover contraception – on the grounds that complying would violate their religious beliefs. The Supreme Court in Hobby Lobby v. Burwell recognized exactly this sort of faith-based exception for a large family-owned but privately held business.

    Would it recognize such an exception for a company like Snap? The company, best known for its app Snapchat, is publicly traded, but just two men, Robert Murphy and Evan Spiegel, control 99.5% of the voting power.

    We can’t be sure. Hobby Lobby is different from Snap in many ways. Yet what they have in common is the ability of their owners to plausibly claim a unitary speech or religious exercise interest that would not characterize a typical large business. Snap’s public owners have no say at all – zero votes – in the company’s affairs. If the controllers of Snap asserted a religious basis for exempting the company from a regulation – and to be clear, this is a purely hypothetical example – the courts might well indulge the claim.

    The judicial system’s expanding view of corporate constitutional rights – seen not just in Hobby Lobby but in Citizens United v. FEC and a number of more recent and ongoing cases in state and lower federal courts – could empower founders to leverage their businesses for private agendas. Whether or not this is likely for Snap in particular, the combination of the dual-class model and changes in the law would seem to leave the door open.

    Elon Musk vs. the dual-class model

    A fitting contrast might be none other than Twitter – renamed X after Elon Musk acquired it and who recently merged it into xAI, another Musk-led venture.

    As a privately held company, xAI is not required to file public investor reports, and much about its ownership structure remains opaque. But let’s assume the company is majority-owned by Musk in a conventional single-class structure – the type Twitter had before he bought it. Given a chance to provoke, Musk has consistently proved eager to raise his hand. Couldn’t he use his control to get X or xAI – we’ll stick with “X” for simplicity – to exercise the same vast control that Murphy and Spiegel could at Snap, or Zuckerberg at Meta?

    Yes – but with a subtle yet important difference.

    There’s a certain logic to X’s key corporate decisions being vested in Musk. Quite famously, he ponied up US$44 billion to buy the entire company. Legal prohibitions on the deployment of private resources for influence are confined to a small universe of cases – antitrust, bribery, certain types of campaign contributions. Those resources include businesses, which are a form of property, that are owned by wealthy individuals or groups. With limited exceptions, people can use their own property as they wish.

    In a dual-class company, though, controllers use other people’s property as they wish. They can get the immense legal, economic and organizational power of the corporate form without having to put much skin in the game.

    Beyond TikTok: The conversation the US should be having

    Traditionally, questions of rich-guy influence have been seen through the lens of politics, taxes or public regulation. But seeing them as questions about the exercise of private corporate control makes clear the special social challenges posed by dual-class stock.

    Wall Street has mostly accepted the bargain: ironclad insulation of Zuckerberg in exchange for rock-solid Meta returns. But this debate is not only of interest for the investment community. Everyone has a stake in its outcome.

    It’s fair for the public to question the wisdom of allowing company founders to leverage the resources and newly jumbo-sized constitutional rights of large corporations in service of a special agenda – be it for a foreign government, a political party or a religious faith – that isn’t even connected to classical purposes of the corporation or advantages of the dual-class model.

    The distinctive risks posed by TikTok are mostly unrelated to its share structure. But the debate over the ban-or-sell law offers a reminder: The powers created by dual-class stock aren’t unique to Chinese control. America’s homegrown-found kings wield them, too.

    Gregory H. Shill does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. The founder kings of Silicon Valley: Dual-class stock gives US social media company controllers nearly as much power as ByteDance has over TikTok – https://theconversation.com/the-founder-kings-of-silicon-valley-dual-class-stock-gives-us-social-media-company-controllers-nearly-as-much-power-as-bytedance-has-over-tiktok-253671

    MIL OSI – Global Reports –