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  • MIL-OSI Global: German election: why most political parties aren’t talking about the climate crisis

    Source: The Conversation – UK – By Vera Trappmann, Professor in Comparative Employment Relations, University of Leeds

    MDV Edwards/Shutterstock

    After months of wrangling over public debt and spending decisions, the German government collapsed in November 2024. Among the many disagreements between the parties which made up the governing coalition was how to pay for measures to combat climate change.

    Seeking to take advantage of disillusioned voters (who in recent years showed record support for the Greens), populist parties have since cast doubt on the idea of tackling environmental issues at all.

    Alternative für Deutschland (AfD), for example, the rightwing party which denies the existence of man-made climate change, has raised concerns about energy security and the economic cost of green alternatives.

    If the AfD’s broader aim was to take green issues off the political agenda, the plan appears to be working. In the run-up to the general election on February 23 2025, migration and the economy are the most important issues for voters (each on 34%), with climate change lagging far behind (13%).

    Nor has the environment been a priority in the parties’ election campaigns. In the first TV debate between the chancellor, the social democrat Olaf Scholz, and his most likely successor, the conservative Friedrich Merz, the topic was ignored almost entirely. A lack of political will and fear of losing voters appear to have relegated environmental policies to the sidelines.

    Others want it back at the top of the agenda. Germany’s foreign intelligence service, for example, describes the climate crisis as one of the major risks facing the country, alongside terrorism and war.

    Business associations have urged the next government to address climate change mitigation for the sake of German jobs. The Federation of German Industries has demanded an increase in public spending on climate change of as much as €70 billion (£58 billion). Younger voters have called for a nationwide protest to bring the subject back into politicians’ minds.

    So have German voters really become sceptical about dealing with climate change?
    In a recent study, we found that people who planned to vote for the AfD and the leftwing populist BSW party are indeed sceptical of the need for far-reaching climate policies.

    Among voters of these two parties, only 23% (AfD) and 41% (BSW) think that an energy transition is necessary to achieve national climate goals. For Green party voters that figure is 93%, and for SDP supporters it’s 83%.

    Voters across the political spectrum have different priorities when it comes to energy supply. For populist party supporters, energy costs trump everything, with only 12% of AfD and 20% of BSW voters considering low emissions important.

    These voters are also less likely to assume the energy transition would have positive effects on jobs, and are more likely to fear rising energy costs and security of supply. In short, they are afraid of the social and economic consequences of the energy transition. It is this fear that the far right appears to have been able to mobilise.

    Climate costs

    Our results are backed up by other research which shows that poorer voters are concerned about the potential costs associated with net zero ambitions.

    There is also uncertainty about the possible effects on employment. Many people in Germany believe there will be job losses in their local community as a result of the transition to green energy, and 25% worry they will lose their job.

    Climate change protest in Berlin in 2024.
    D Busquets/Shutterstock

    While these results may seem gloomy, we also found majority support – even among AfD voters – for climate change policies where communities benefit financially from local renewable energy projects, and where citizens feel they have more of a voice in how the energy transition comes into effect.

    People want to be heard and participate in a potential transformation. Previous research in psychology has shown that participating in processes and a perception of fairness can increase acceptance.

    Research also shows that people fear the effects of climate policies on their personal finances, and that these perceived costs inhibit environmentally friendly behaviour.

    But the climate crisis won’t go away, no matter who governs Germany in the coming years. More “once-in-a-century” floods and droughts will hit the nation and bring the climate crisis back to the top of the political agenda.

    When this happens, politicians need to ensure they have a positive and credible vision of the future ready to present to voters – where the costs are shared fairly. This will make it harder for populist parties to play on economic worries, and easier to persuade German voters to prioritise the climate crisis.

    Vera Trappmann receives funding from Hans Böckler Foundation

    Felix Schulz receives funding from the Hans-Böckler-Foundation.

    – ref. German election: why most political parties aren’t talking about the climate crisis – https://theconversation.com/german-election-why-most-political-parties-arent-talking-about-the-climate-crisis-249731

    MIL OSI – Global Reports –

  • MIL-OSI Security: West Hartford Man Sentenced to Federal Prison for Participating in Catalytic Converter Theft Ring

    Source: Office of United States Attorneys

    Marc H. Silverman, Acting United States Attorney for the District of Connecticut, announced that YANQUEE RODRIGUEZ, also known as “Yankster Rodriguez,” 28, of West Hartford, was sentenced today by U.S. District Judge Sarala V. Nagala in Hartford to 15 months of imprisonment, followed by three years of supervised release, for participating in a catalytic converter theft conspiracy.

    According to court documents and statements made in court, law enforcement has been investigating the theft of catalytic converters from motor vehicles across Connecticut.  A catalytic converter contains precious metals, can easily be removed from its vehicle, and is difficult to trace, making it a desirable target for thieves.  The average scrap price for catalytic converters currently varies between $300 and $1,500, depending on the model and type of precious metal component.

    The investigation revealed that Alexander Kolitsas owned and operated Downpipe Depot & Recycling LLC (“Downpipe Depot”), which had a warehouse on Park Avenue in East Hartford.  Kolitsas and Downpipe Depot purchased stolen catalytic converters from a network of thieves, including Rodriguez, and then transported and sold the catalytic converters to recycling businesses in New York and New Jersey.  Kolitsas instructed his suppliers on the types of converters that would obtain the most profit upon resale, and he would often meet with them and transact business at his home in Wolcott late at night or behind a family member’s restaurant in Middlebury after hours.

    Business records seized during the investigation revealed that Rodriguez was one of Downpipe Depot’s largest suppliers of stolen catalytic converters.  Between January 2021 and May 2022, Downpipe Depot paid Rodriguez $411,845 for catalytic converters.  Kolitsas paid Rodriguez and his other catalytic converter suppliers a total of more than $3.3 million during that time.

    Rodriguez was arrested on November 15, 2023.  On June 26, 2024, he pleaded guilty to one count of conspiracy to commit interstate transportation of stolen property and one count of interstate transportation of stolen property.

    Rodriguez, who is released on a $100,000 bond, is required to report to prison on May 19.

    Kolitsas pleaded guilty to related charges and awaits sentencing.

    This investigation is being led by the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), the Internal Revenue Service – Criminal Investigation Division (IRS-CI), and the East Hartford Police Department.  The case is being prosecuted by Assistant U.S. Attorneys Lauren C. Clark and A. Reed Durham.

    MIL Security OSI –

  • MIL-OSI USA: Graham, Colleagues Urge ATF To Strengthen Second Amendment Protections And Rescind Unconstitutional Biden Rules

    US Senate News:

    Source: United States Senator for South Carolina Lindsey Graham

    WASHINGTON – U.S. Senator Lindsey Graham (R-South Carolina) joined U.S. Senator John Cornyn (R-Texas) and 28 of their Senate Republican colleagues today to send a letter to the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) Deputy Director Marvin Richardson urging him to align the agency with President Trump’s Second Amendment priorities as laid out in his recent Executive Order.

    Graham and his colleagues called on Director Richardson to identify and rescind former President Biden’s unlawful firearms regulations, including the “Engaged in the Business” rule, pistol brace rule, so-called “ghost gun” rule, and “zero tolerance” policy under which ATF has revoked the licenses of federal firearm licensees (FFLs) over minor bookkeeping violations.

    The Senators wrote, “On Friday, February 7, 2025, President Donald J. Trump took decisive action to reaffirm law-abiding Americans’ Second Amendment rights in issuing his Executive Order, Protecting Second Amendment Rights.  We urge you to immediately align ATF’s rules and policies with the President’s strong support for the Second Amendment.”

    “Under former President Joe Biden, ATF adopted numerous policies and rules that infringed upon Americans’ Second Amendment protections. President Trump’s Executive Order directs Attorney General Pam Bondi to review and develop a plan of action regarding President Biden’s unlawful firearms regulations. We ask that you work with the Attorney General to quickly identify and rescind these policies.”

    Along with Graham and Cornyn, the letter was signed by Senate Majority Leader John Thune (R-South Dakota) and U.S. Senators Thom Tillis (R-North Carolina), John Barrasso (R-Wyoming), Cindy Hyde-Smith (R-Mississippi), Shelley Moore Capito (R-West Virginia), Jim Justice (R-W Virginia), Jim Risch (R-Idaho), Cynthia Lummis (R-Wyoming), Steve Daines (R-Montana), Ted Cruz (R-Texas), Kevin Cramer (R-North Dakota), Mike Crapo (R-Idaho), James Lankford (R-Oklahoma), John Hoeven (R-North Dakota), Roger Marshall (R-Kansas), Rick Scott (R-Florida), Ted Budd (R-North Carolina), Bill Hagerty (R-Tennessee) Tim Sheehy (R-Montana), Pete Ricketts (R-Nebraska), Bill Cassidy (R-Louisiana), Joni Ernst (R-Iowa), Marsha Blackburn (R-Tennessee), Todd Young (R-Indiana), Markwayne Mullin (R-Oklahoma), Deb Fischer (R-Nebraska), Jim Banks (R-Indiana) and Jerry Moran (R-Kansas).

    The full text of the letter is available here.

    MIL OSI USA News –

  • MIL-OSI Global: German election: a triple crisis looms large at the heart of the economy

    Source: The Conversation – UK – By Ralph Luetticke, Professor of Economics, School of Business and Economics, University of Tübingen

    Oleg Senkov/Shutterstock

    Ahead of the election on February 23, many German voters are deeply concerned about the economy – and for good reason. The German economy is in a recession and has been shrinking for two consecutive years. In fact, it is now about the same size as it was in 2019, even as some of its peers among the world’s advanced economies have experienced solid growth (on the left of the chart below).

    This matters for voters, who have experienced stagnating real incomes and remain pessimistic – expecting real incomes to decline further.

    GDP and productivity growth of Germany, UK and US:

    There could be several reasons for Germany’s economic malaise. First, fiscal policy in Germany is tighter than in other countries, meaning higher taxes and lower public spending. Due to the “debt brake” enshrined in its constitution, Germany is severely restricted in running budget deficits, except when the government declares an emergency, as it did due to COVID.

    The last coalition government collapsed over a dispute about whether to declare another emergency over the war in Ukraine in order to increase borrowing capacity. This did not happen, and as a result Germany’s fiscal deficit has remained relatively moderate. The argument goes that a larger deficit might have boosted economic growth.

    Second, for decades, Germany has relied on foreign demand to sustain economic growth at home. During the first two decades of the 21st century, it benefited greatly from China’s integration into the world economy.

    To build up its productive capacity, China relied heavily on machinery produced in Germany and it purchased a significant number of German cars. However, this is no longer the case. As China has moved to the technology frontier, it no longer depends as much on German cars or machinery.

    However, both factors only go so far in accounting for the stagnating German economy. For if demand – domestic or foreign – is too weak to sustain growth, this should be reflected in falling prices.

    Yet prices have been rising strongly. Inflation in Germany has been running high over the last couple of years.

    And it has not been systematically lower than in, say, the US or the rest of the euro area. Over the next 12 months, households expect inflation to be above 3% – well above the European Central Bank’s 2% target.

    Another relevant indicator also suggests that lack of demand is unlikely to be the main reason for Germany’s stagnation. Unemployment is low in Germany, lower than in most European countries and hardly higher than in 2019.

    Instead, adverse supply conditions are key, as reflected in households’ expectations of falling incomes and higher inflation.

    Overall, supply is simply the combination of labour and capital inputs (for example, the size of the workforce and the machinery or premises available to them) along with productivity or technology, which tells us how much output we get from the labour and capital inputs. Germany is facing a triple crisis in this regard – expensive energy, weak labour supply and low productivity growth.

    First, there are energy prices, which have been pushed up everywhere by the Russian invasion of Ukraine. However, the effect has been particularly strong in Germany due to its direct dependency on Russian gas.

    The outgoing government, in which the Greens have been a key player, is widely credited with trying to accelerate Germany’s green transition. This raised the costs of the transition above those caused by the European Emissions Trading System, whereby polluters pay for their emissions.

    While it is difficult to determine the exact contributions of the war and the green transition to the rise in energy prices, both clearly act as a drag on growth, particularly on the supply side (that is to say, production potential).

    The productivity problem

    But Germany faces more fundamental supply-side challenges. The second issue becomes apparent when comparing GDP per hour worked (a measure of a country’s productivity, as seen on the right of the chart above).

    Here, the trends in Germany and the UK are quite similar, implying that Germany’s lower economic growth relative to the UK is primarily due to people working fewer hours. This, in turn, may reflect demographic changes, migration that does not contribute to the labour force or shifting preferences in the wake of COVID.

    The third issue is productivity growth. Consider the increase in GDP per hour worked in the US, which has risen by more than 10% as shown in the chart above, dwarfing the developments in both Germany and the UK. Common causes of weak productivity growth include ageing infrastructure, low private sector investment, a lack of start-ups and fewer new companies growing into multinational leaders.

    A turnaround requires far-reaching improvements in supply conditions. In terms of energy, Germany should avoid measures such as introducing more regulation on the heating or insulation of new and existing homes, and instead rely on the EU-wide emissions trading scheme to curb emissions.

    In the labour market, increased participation or skilled migration is needed, supported by policies that encourage people to retire later and entice more women into the workforce.

    Increasing defence spending could be a way to boost German productivity.
    Ryan Nash Photography/Shutterstock

    Productivity growth remains the most challenging issue. A good start would be increased funding for universities and reduced regulation, particularly for AI technology.

    Deepening the EU’s single market, for example by removing restrictions on cross-border energy trade to allow firms to access cheaper electricity, would enhance competition and drive productivity growth. This way, companies could expand and create well-paying jobs.

    Finally, an additional boost may come from higher defence spending, not only to address the much-needed improvement of Germany’s external security but also because it has been shown to increase productivity.

    While immigration may be a major talking point for the German electorate in the coming vote, the economy – as ever – will be an important factor in measuring the mood of the country.

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

    – ref. German election: a triple crisis looms large at the heart of the economy – https://theconversation.com/german-election-a-triple-crisis-looms-large-at-the-heart-of-the-economy-250320

    MIL OSI – Global Reports –

  • MIL-OSI USA: Following Dangerous Cuts to Transportation Workforce, Markey, Leader Schumer, Colleagues Demand Secretary Duffy Prioritize Safety

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey

    Letter Text (PDF)

    ?Washington (February 20, 2025) – Senator Edward J. Markey (D-Mass.), a member of the Senate Commerce, Science, and Transportation Committee, today led 12 colleagues in a letter to Department of Transportation (DOT) Secretary Sean Duffy urging the agency to stop the mass layoffs and firing of essential transportation safety employees and instead focus on prioritizing safety. The lawmakers demand information regarding DOT plans to protect passengers and prevent future crashes.

    In the letter the lawmakers write, “At the Department of Transportation, safety must come first, but that commitment appears in doubt as the Trump administration promotes cost-cutting over protecting the public. By offering to buy out federal employees, ordering government agencies to prepare for mass layoffs, firing employees with critical safety functions, giving Elon Musk and the Department of Government Efficiency (DOGE) free reign to cut the federal workforce, and turning Musk, DOGE, and their unqualified staff loose on the air traffic control system, the Trump administration risks undermining decades of safety improvements. We urge you to cease this dangerous approach to governing and request important information on how the Department of Transportation (DOT) plans to prioritize safety in this environment.”

    The lawmakers requested responses by March 3 to questions that include:

    • How many DOT employees were offered the buyout? How many accepted? How many declined or did not respond?
    • How many DOT employees were ineligible to take the buyout offer?
    • How many DOT employees have lost their jobs since January 20, 2025?
    • What is Musk’s and DOGE’s role in reviewing DOT personnel and program information? What steps is the Department is taking to ensure that Musk and the DOGE do not compromise public safety?
    • What is Musk’s and DOGE’s involvement with the ATC system?

    The letter was co-signed by Senate Democratic Leader Chuck Schumer (D-N.Y.), and Senators Richard Blumenthal (D-Conn.), Chris Van Hollen (D-Md.), Peter Welch (D-Vt.), Jacky Rosen (D-Nev.), Michael Bennet (D-Colo.), Bernie Sanders (I-Vt.), Alex Padilla (D-Calif.), Elizabeth Warren (D-Mass.), Raphael Warnock (D-Ga.), Ron Wyden (D-Ore.), and Jeff Merkley (D-Ore.).

    MIL OSI USA News –

  • MIL-OSI USA: Cornyn Votes to Confirm Kelly Loeffler for SBA Administrator

    US Senate News:

    Source: United States Senator for Texas John Cornyn

    WASHINGTON – U.S. Senator John Cornyn (R-TX) released the following statement after former U.S. Senator Kelly Loeffler (R-GA) was confirmed as Administrator of the U.S. Small Business Administration (SBA):

    “Kelly Loeffler’s business experience and time in public service make her eminently qualified to lead the SBA and help enact President Trump’s agenda to boost small businesses, which are the backbone of our economy. I was pleased to support my former colleague’s nomination and look forward to working with her in her new role.”

    MIL OSI USA News –

  • MIL-OSI USA: During Black History Month, Scott Pushes Investment in Underserved Communities

    US Senate News:

    Source: United States Senator for South Carolina Tim Scott
    Senator Scott announced his goal to unleash $1 trillion into communities like the one he grew up in.
    WASHINGTON — As part of Black History Month, U.S. Senator Tim Scott (R-S.C.) is building on his commitment to increase economic opportunity across the United States. In his role as Chairman of the Senate Banking Committee, and as a senior member of the Senate Finance Committee, Scott is pushing solutions with a goal of unleashing up to $1 trillion of investment into underserved communities.
    Scott joined Walter Davis, founding member of Peachtree Providence Partners, as part of his Opportunity Summit series in celebration of Black History Month to discuss his efforts and their shared goal of helping all Americans achieve their version of the American Dream.

    Click here to watch the panel.
    “I think it’s incredibly important for us to figure out how to unlock capital for disadvantaged communities. My goal is to set the kind of parameters that allows for $1 trillion of capital to be set free in disadvantaged communities in the next 10 years… My goal is to make sure that everyone who is struggling…has an opportunity to access more resources. That’s called the American way, or at least it’s supposed to be the American way. And I aim to make sure that, from a banking perspective, we have the flexibility with our regulators, so that small business owners with a good plan – with decent credit – have access to the capital to start hiring people from their own communities. Because when I started my business, it’s exactly what I did. I took an Allstate Insurance Agency and I crafted three other Allstate agencies out of my one Allstate agency, with two of them being African Americans. How do you do that? You just do the right thing. But it starts at home in your community, and if you want to see higher employment numbers in your community, you probably have to start a business and make it happen,” said Senator Scott.
    BACKGROUND: By focusing on affordable housing, quality education, small business growth, financial inclusion, keeping tax rates low for families and expanding Opportunity Zones, as well as leveraging digital assets, Senator Scott is working to pave the way for transformative economic development across the country. 
    Boosting Affordable Housing Senator Scott’s ROAD to Housing Act will facilitate investment in quality and affordable housing, providing the opportunity to create generational wealth for so many historically ignored communities. The ROAD to Housing Act will change outdated caps on private investment in public housing, open the door to small-dollar mortgages, and help boost the supply of manufactured housing.
    Small Business Growth Small business owners – particularly Black and other minority-owned businesses – face significant challenges accessing capital, including through our capital markets system. Senator Scott’s Empowering Main Street in America Act will fuel economic growth by giving local entrepreneurs – not elites in New York or Silicon Valley – the power to direct capital to historically overlooked communities.
    Increasing Financial Inclusion Senator Scott has consistently prioritized increasing financial inclusion and incentivizing growth in local communities and historically overlooked neighborhoods. Senator Scott will continue to push efforts to streamline and modernize the rules governing financial institutions, prioritizing changes that support access to capital and investment in underserved communities across the country.
    Protecting Taxpayer Dollars Senator Scott’s Opportunity Zones initiative has driven $85 billion to underserved communities, unlocking economic opportunities that had never before been available. With the Tax Cuts and Jobs Act set to expire this year, Senator Scott will work to ensure middle class families and small businesses are not hit with a massive, $4.1 trillion tax hike, and to broaden and extend Opportunity Zones to continue driving economic development in the communities that need it most.
    Leveraging Digital Assets Senator Scott will prioritize establishing a clear, tailored regulatory framework for digital assets through legislation on stablecoins and crypto market structure, aiming to empower families, small businesses, and underserved communities to build wealth and participate more fully in the digital economy. 
    Expanding Quality Education Education is a catalyst to driving long-term economic growth and labor market participation. Americans with a bachelor’s degree face less than half the unemployment rate and earn more than double the income of those who dropout of high school. Unlocking the power of education starts with K-12 education, which is why Senator Scott is helping lead the Education Choice for Children Act (ECCA) to provide up to $10 billion in federal tax credits for charitable contributions to K-12 scholarships for middle- and low-income students, benefitting nearly 2 million students.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Chancellor backs Britain’s financial services to drive development and kickstart economic growth

    Source: United Kingdom – Executive Government & Departments

    Rachel Reeves urges financial industry leaders to seize growth opportunities in emerging markets, creating new business for British firms and boosting trade links with fast-growing economies, delivering on the government’s Plan for Change.

    • Chancellor launches coalition to improve sustainable sovereign debt financing to developing economies, shoring up London’s position as development finance leader amid growing global uncertainty

    • Reeves aims to boost private capital mobilisation for development ahead of her attendance of the European Bank for Reconstruction and Development’s annual meeting on 13-15 May in London

    In Canary Wharf today (20 February) the Chancellor met with some of the UK’s biggest financial services firms such as Aviva, HSBC and Schroders and urged them to work with development institutions including the European Bank for Reconstruction and Development (EBRD) and British International Investment. To go further and faster in delivering the government’s Plan for Change and put more money in people’s pockets, the Chancellor encouraged firms to seize investment opportunities in emerging markets for Britain’s brightest and best companies.

    Co-hosting a roundtable with Odile Renaud-Basso, president of the EBRD, the Chancellor launched the “London Coalition on Sustainable Sovereign Debt”. This will be co-chaired by the Economic Secretary to the Treasury, Emma Reynolds.

    The Coalition will bring together government and private sector stakeholders to find innovative solutions to more sustainable sovereign debt financing in developing economies.

    Promoting orderly and transparent debt restructuring and more resilient borrowing will mean that emerging economies can make progress meeting their climate and development targets. The Coalition capitalises on London’s financial services expertise and will help cement its position as a global leader in development finance, in turn supporting economic activity and financing investment across the country. Investing in emerging markets themselves can boost UK growth by creating new opportunities for British businesses in areas such as financial services, and boost trade ties with fast-growing economies amid an increasingly uncertain global environment.

    Chancellor of the Exchequer, Rachel Reeves said:

    Business and government must work together to seize opportunities in emerging markets and kickstart economic growth as part of our Plan for Change.

    Today’s roundtable shows how the UK’s world-leading financial centre can help countries unlock new opportunities for our brightest and best British companies to create wealth and drive growth.

    President of the European Bank for Reconstruction and Development Odile Renaud-Basso said:

    Mobilising private capital is key to meeting global development needs. I’m delighted to co-host UK business leaders with the Chancellor to discuss how multilateral banks like the EBRD can help channel further financing to emerging markets. By joining forces, we aim to deliver the much-needed impact for developing countries while creating new opportunities for businesses from developed economies.

    The Chancellor and Renaud-Basso also signed a Memorandum of Understanding setting out cooperation on the EBRD annual meeting and business forum in London, which will be held from 13 to 15 May this year.

    The Chancellor will attend the bank’s first annual meeting in London since 2016 where it will see governors approve the bank’s next 5-year strategy and highlight opportunities for UK businesses to work with the EBRD in its key markets such as Ukraine, Poland and Turkey.

    Reeves and Renaud-Basso discussed with business leaders how to create the right environment for investment. This is being done at home, for example through reforms to the pensions system which could unlock around £80 billion in productive investment and the launch of the Transition Finance Council led by Lord Alok Sharma. It is also key to work overseas, where British International Investment and UK-backed programmes including MOBILIST and the Private Infrastructure Development Group have unlocked billions in private investment for climate and development around the world. A new Institutional Investor Taskforce will advise government and institutional investors on how they can work together to open up even more of this much-needed investment and establish London as the world’s leading climate and development finance hub.

    Reeves outlined the UK’s growth priorities, both at home and abroad, and highlighted the financing tools and instruments to help achieve this such as the National Wealth Fund, which is expected to mobilise over £70 billion in private investment into the high-growth industries of the future. Reeves also underscored the importance of multilateral development banks in helping to mobilise private capital, through working together more effectively as a system and with the private sector.

    As the largest institutional investor in Ukraine, the EBRD has also been working with the UK government to support Ukraine’s resilience and recovery. In December, the UK confirmed its participation in a EUR 4bn capital increase which will unlock billions each year to support critical sectors of Ukraine’s economy. The EBRD and Aon also launched an innovative $110m war insurance facility with UK support in the same month to rebuild the country’s insurance market.

    Elsewhere, the EBRD invests in 36 economies across three continents including in Central, Eastern and Southern Europe, Central Asia and North Africa. This year it will also begin operations in sub-Saharan Africa.

    The roundtable comes ahead of the Chancellor’s visit to Cape Town, South Africa, next week to attend the G20 Finance Ministers and Central Bank Governors meeting. She will be advocating for the UK’s Growth Mission on the global stage and championing how private capital and the role of the City will kickstart economic growth and raise living standards around the world.

    Baroness Shriti Vadera, Chair of Prudential PLC and Co-Chair of the World Bank Private Sector Investment Lab, said:

    It is critical for governments, international financial institutions, and the private sector to work together to mobilise, at scale and pace, greater levels of finance for climate and development where it is most needed – in emerging and developing markets. I particularly welcome the focus today on practical steps to develop and deploy risk-sharing and blended financial instruments.

    Dame Elizabeth Corley, Chair of Schroders PLC, said:

    I firmly believe asset managers play a key role in crowding in private capital and unlocking it at scale in emerging markets. Schroders, with its impact pioneer BlueOrchard, is eager to share our expertise in blended finance and impact investing to overcome barriers to private sector investment, redressing some of the world’s biggest challenges like climate change and inequality.

    Updates to this page

    Published 20 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Coface : 2024 results: net income at €261.1m, up 8.6%, and proposed dividend at €1.40

    Source: GlobeNewswire (MIL-OSI)

    2024 results: net income at €261.1m, up 8.6%, and proposed dividend at €1.40

    Paris, 20 February 2025 – 17.35

    • Turnover: €1,845m, down -0.6% at constant FX and perimeter and down -1.3% on a reported basis
      • Trade credit insurance revenue decreased by -2.2% at constant exchange rates, with slightly positive customer activity in Q4-24
      • Client retention is still high at 92.3% but down slightly from 2023 records; pricing remained negative at -1.4%, in line with historical trends
      • Business information once again recorded double-digit growth (+16.3% at constant FX); factoring stabilised at +0.3% with solid growth in Q4-24
    • Net loss ratio at 35.2%, improved by 2.5 ppts; net combined ratio at 65.5%, up 1.2 ppt
      • Gross loss ratio at 33.4%, improved by 2.4 ppts with still high opening year reserving and high reserve releases
      • Net cost ratio increased by 3.6 ppts to 30.2%, reflecting slightly lower revenues and continued investment, in line with our strategy
      • Net combined ratio in Q4-24 at 68.7%, up 9.7 ppts due to a higher net cost ratio and a very low combined ratio in Q4-23 (59.0%)
    • Net income (group share) of €261.1m, up +8.6%, of which €53.4m in Q4-24, the highest annual figure since the adoption of IFRS 17. Annualised RoATE1at 13.9%
    • Coface continues to be backed by a solid balance sheet:
      • Estimated solvency ratio at ~196%2, above the upper end of target range (155% to 175%)
      • Proposal to distribute3 a dividend per share of €1.40 representing an 80% pay-out ratio
      • Earnings per share reached €1.75
    • Coface signed the acquisition of Cedar Rose, strengthening its capabilities in information services in the Middle East and Africa
    • Gonzague Noël has been appointed as Group Chief Operating Officer (COO)

    Unless otherwise indicated, change comparisons refer to the results as at 31 December 2023

    Xavier Durand, Coface’s Chief Executive Officer, commented:
    “2024 was marked by the launch of our Power the Core strategic plan which is deliberately focused on innovation.
    In an environment characterised by weak economic growth, a decrease of our clients’ activity and an increase in the number of bankruptcies, the discipline of our underwriting enabled us to contain the increase in the combined ratio, which rose moderately to 65.5%. Finally, we benefited from the repositioning of our investment portfolio to achieve a return on average tangible equity of 13.9%, above our mid-cycle targets. The net income of €261m marked the highest level since the transition to IFRS 17.
    All these achievements would not have been possible without the engagement of our employees.
    These good results and solid solvency ratio of 196% allow us to propose the payment of a dividend of €1.40 per share to the Shareholders’ meeting.”

    Key figures at 31 December 2024

    The Board of Directors of COFACE SA approved the consolidated financial statements at 31 December 2024 at its meeting of 20 February 2025. The Audit Committee at its meeting on 18 February 2025 also previously reviewed them. Accounts are non-audited, certification is in progress.

    Income statements items in €m 2023 2024 Variation % ex. FX*
    Insurance revenue 1,559.1 1,512.9 (3.0)% (2.2)%
    Services revenue 309.2 331.9 +7.4% +7.4%
    REVENUE 1,868.2 1,844.8 (1.3)% (0.6)%
    UNDERWRITING INCOME/LOSS AFTER REINSURANCE 395.4 368.7 (6.8)% (5.3)%
    Investment income, net of management expenses, excluding finance costs 12.4 91.7 638.0% 595.7%
    Insurance Finance Expenses (40.0) (42.5) 6.4% 12.9%
    CURRENT OPERATING INCOME 367.9 417.9 +13.6% +12.8%
    Other operating income / expenses (5.0) (8.6) 74.5% 74.2%
    OPERATING INCOME 362.9 409.2 +12.8% +12.0%
    NET INCOME (GROUP SHARE) 240.5 261.1 +8.6% +6.3%
             
    Key ratios 2023 2024 Variation
    Loss ratio net of reinsurance 37.7% 35.2% (2.5)% ppts
    Cost ratio net of reinsurance 26.6% 30.2% 3.6% ppts
    COMBINED RATIO NET OF REINSURANCE 64.3% 65.5% 1.2% ppt
             
    Balance sheet items in €m 2023 2024 Variation
    Total equity (group share) 2,050.8 2,193.6 +7.0%
    Solvency ratio 199% 196%1         -3 ppt

    * Also excludes scope impact

    1This estimated solvency ratio constitutes a preliminary calculation made according to Coface’s interpretation of Solvency II regulations and using the Partial Internal Model. The final calculation may differ from this preliminary calculation. The estimated solvency ratio is not audited.

    1.   Turnover

    In 2024, Coface recorded a consolidated turnover of €1,844.8 million, down by -0.6% at constant FX and perimeter compared to 2023. As reported (at current FX and perimeter), turnover was down -1.3%.

    Revenue from insurance activities (including bonding and Single Risk) fell -2.2% at constant FX and perimeter, although the year ended on a slightly more positive note (Q4-24 revenue from insurance activities rose +3.7% and total revenue increased +4.3%). Client retention remains high at 92.3% (but down from the record level in 2023), in a competitive market where Coface implemented risk mitigation plans that impacted renewals at the beginning of the year. New business rose to €126m, up €9m compared to 2023 driven by an increase in demand and the positive effects of investments for growth, mainly in the mid-market segment.

    Client activity grew modestly at 0.5%, below the historical average with an improvement in Q4-24 (+0.4%). Over the year, the decline in activity in the metals sector, with lower prices, partially offset the positive trend in the agri-food sector. The price effect remained negative at -1.4% in 2024 (vs. -1.9% in 2023), in line with long-term trends.

    Turnover from non-insurance activities was up +8.2% compared to 2023. Factoring turnover stabilised at +0.3% with a positive Q4-24 that reversed the full-year trend. Information services turnover rose +16.3%. Fee and commission income (debt collection commissions) increased by +19.6%, from a low base, due to the increase in claims to be collected and investments made in third-party debt collection. Commissions were up +6.6%.

    Total revenue – in €m
    (by country of invoicing)    		 2023 2024 Variation % ex. FX4
    Northern Europe 379.6 362.2 (4.6)% (4.6)%
    Western Europe 380.1 391.8 +3.1% +0.4%
    Central & Eastern Europe 177.1 173.8 (1.9)% (3.2)%
    Mediterranean & Africa 526.3 538.5 +2.3% +5.6%
    North America 171.8 176.6 +2.7% (6.4)%
    Latin America 100.3 77.7 (22.5)% +4.0%
    Asia-Pacific 133.1 124.3 (6.6)% (7.1)%
    Total Group 1,868.2 1,844.8 (1.3)% (0.6)%

    In Northern Europe, turnover was down by -4.6% at constant and current FX, due to the selective non-renewal of some loss-making policies at the beginning of the year, despite the stabilisation of client activity in Q4-24.

    In Western Europe, turnover increased by +0.4% at constant FX (+3.1% at current FX and perimeter following the integration of certain African countries in the first half of the year) thanks to a sharp increase in information services sales (+30.3%) combined with a better Q4-24 in credit insurance under the effect of significant business catch-up.

    In Central and Eastern Europe, turnover fell -3.2% at constant FX (-1.9% at current FX) due to the decline in client activity, which weighed on credit insurance, despite a high client retention rate. Factoring was down -1.0% at constant exchange rates.

    In the Mediterranean and Africa region, which is driven by Italy and Spain, turnover rose +5.6% at constant FX and +2.3% at current FX driven by robust sales in credit insurance and services and a stronger economic environment.

    In North America, turnover was down -6.4% at constant FX but increased by +2.7% at current FX due to the integration of Mexico in this scope. The region saw a slowdown in client activity despite higher retention and a fairly strong economic environment.

    In Latin America, turnover rose +4.0% at constant FX but fell -22.5% at current FX. The region is benefiting from a recovery in client activity after 2023 was dominated by risk prevention actions. However, the transfer of Mexico to the North America region had a negative impact.

    In Asia-Pacific, turnover decreased by -7.1% at constant FX and -6.6% at current FX. This lower turnover was due to a slowdown in client activity that robust sales were unable to offset and selective non-renewal of certain policies.

    2.   Result

    • Combined ratio

    The annual combined ratio net of reinsurance was 65.5% in 2024, up 1.2 ppt year on year.

    (i)  Loss ratio

    The gross loss ratio stood at 33.4%, a 2.4 ppts improvement on the previous year. This improvement reflects both the gradual normalisation of the loss experience, offset by rising reserve releases. The amount of claims recorded is now higher than in 2019. The total number of claims decreased, offset by an increase in the number of mid-sized claims.

    The Group’s provisioning policy remained unchanged. The amount of provisions related to the underwriting year, although discounted, reflects the increase in the claims frequency. Strict management of past claims enabled the Group to record 51.9 ppts of recoveries.

    The net loss ratio improved to 35.2%, down 2.5 ppts compared to 2023.

    (ii)  Cost ratio

    Coface is pursuing a strict cost management policy and is continuing to invest, in line with its Power the Core strategic plan. As a result, over the full year 2024, costs rose by +5.5% at constant FX and perimeter, and by +5.3% at current FX.

    The cost ratio before reinsurance was 33.7%, up 2.2 ppts year on year. This rise was mainly due to the decline in revenues (1.0 ppt), embedded cost inflation (1.5 ppt) and ongoing investments (1.5 ppt). In contrast, the improved product mix (information services, debt collection and fee and commission income) had a positive effect. High reinsurance commissions explain the remainder of the variation.

    • Financial result

    Net financial income for 2024 was €91.7m, up sharply compared to 2023. This figure includes capital gains of +€11.4m, which more than offset negative market value adjustments on investments of -€2.9m. The FX effect remained slightly negative at -€2.7m but improved significantly compared to 2023, which was marked by the accounting effect of IAS 29 (hyperinflation) in Turkey and Argentina as well as the sharp devaluation of the Argentine peso.

    The portfolio’s current yield (i.e. excluding capital gains, depreciation and FX impact) was €96.6m, of which €25.7m in Q4-24. The accounting yield5, excluding capital gains and fair value effect, was 2.9% for 2024. The yield on new investments made year-to-date was 4.1% and fell in Q4-24 in line with the trend in market rates.

    Insurance Finance Expenses (IFE) stood at €42.5m (€40.0m in 2023).

    • Operating income and net income

    Operating income amounted to €409.2m in 2024, up +12.0% at constant FX.

    The effective tax rate was 29% for the year (vs. 27% in 2023), including the impact of Pillar 2 (global minimum tax).

    In total, net income (group share) was €261.1m, up +8.6% compared to 2023.

    3.   Shareholders’ equity

    At 31 December 2024, Group shareholders’ equity stood at €2,193.6m, up €142.8m or +7.0% (€2,050.8m at 31 December 2023).

    These changes are mainly due to the positive net income of €261.1m and the dividend payment of -€194.3m. Other items include changes in unrealised capital gains for €72.0m.

    The annualised return on average tangible equity (RoATE) was 13.9%, up 0.5 ppt mainly due to the improvement in financial income, which more than offset the decrease in underwriting income (decline in net premiums and slight increase in the combined ratio).

    The solvency ratio reached 196%6, representing a decrease of 3 ppts compared to FY-23. It remains well above the upper end of the target range (155%-175%).

    Coface will propose €1.40 dividend per share at the Shareholders’ meeting, corresponding to a payout ratio of 80%7, in line with its capital management policy.

    4.   Outlook

    Once again, the global economy experienced modest growth in 2024 (2.7%), in line with Coface’s forecasts and still driven being by the United States. The electoral calendar, which involved an unprecedented number of countries, delivered generally unsurprising outcomes, with some exceptions.

    For 2025, Coface is forecasting growth identical to that of 2024 at 2.7%. Further downgrades to European growth are likely to be offset by the good performance of the United States, while political risk remains. Donald Trump’s return to power seems to have been welcomed by economic circles so far, raising hopes of deregulation, which is stimulating in the short term but often carries longer-term risks. The announced introduction of tariffs for many countries is also a destabilising factor for global trade.

    Against this backdrop, Coface is anticipating a continued rise in bankruptcies, as businesses are caught between depleted levels of cheap financing and sluggish growth. Coface and its teams will continue to support their clients in this still uncertain environment.

    At the end of 2024, client activity finally posted a slightly positive performance after several quarters of decline. This slight rebound may give hope that the post-Covid decline in client activity has come to an end. In 2025, Coface will continue to implement its Power the Core strategic plan, which aims to develop a leading global ecosystem in credit risk management.

    5.   Governance evolution

    In the Executive Committee:

    • As of February 1st, 2025, Carole Lytton leads the Specialties Businesses, in addition to her role as General Secretary. She takes over from Antonio Marchitelli who decided to leave and take another appointment outside Coface after many years of dedication to the Group.
    • As of February 3rd, Gonzague Noël has been appointed as Group Chief Operating Officer (COO). He takes over Declan Daly, joins the Group executive committee and reports to Xavier Durand, Coface CEO.

    Conference call for financial analysts

    Coface’s results for FY-2024 will be discussed with financial analysts during the conference call on Thursday, 20 February 2025 at 18.00 (Paris time). Dial one of the following numbers:

    The presentation will be available (in English only) at the following address:
    http://www.coface.com/Investors/financial-results-and-reports

    Income statements items in €m
    Quarterly figures    		 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24   % %
    ex. FX*
    Insurance revenue 395.3 407.8 384.7 371.3 378.6 375.6 375.9 382.7   +3.1% +3.7%
    Other revenue 79.8 76.8 73.4 79.2 85.0 83.4 78.0 85.5   +8.0% +7.6%
    REVENUE 475.1 484.5 458.1 450.4 463.7 459.1 453.8 468.3   +4.0% +4.3%
    UNDERWRITING INCOME (LOSS)
    AFTER REINSURANCE    		 95.3 103.5 91.2 105.4 100.3 94.7 88.8 84.9   (19.5)% (17.9)%
    Investment income, net of management expenses, excluding finance costs (2.6) 4.0 13.0 (2.0) 17.9 22.8 19.0 31.9   (1667)% (1568)%
    Insurance Finance Expenses (2.4) (12.3) (15.4) (9.9) (11.4) (6.7) (7.3) (17.1)   +73.3% +77.9%
    CURRENT OPERATING INCOME 90.4 95.2 88.9 93.5 106.8 110.9 100.5 99.7   +6.7% +7.9%
    Other operating income / expenses (0.3) (0.4) (0.2) (4.0) (0.1) (0.5) (2.6) (5.5)   +38.3% +36.4%
    OPERATING INCOME 90.0 94.8 88.6 89.5 106.8 110.4 97.9 94.2   +5.2% +6.6%
    NET INCOME (GROUP SHARE) 61.2 67.7 60.9 50.8 68.4 73.8 65.4 53.4   +5.1% +4.9%
    Income tax rate 25.5% 21.9% 24.2% 36.0% 27.2% 26.8% 25.5% 36.2%   +0.2 ppt

    Appendices

    Quarterly results

    Cumulated results*

    Income statements items in €m
    Cumulated figures    		 Q1-23 H1-23 9M-23 2023 Q1-24 H1-24 9M-24 2024   % %
    ex. FX*
    Insurance revenue 395.3 803.1 1,187.8 1,559.1 378.6 754.3 1,130.2 1,512.9   (3.0)% (2.2)%
    Other revenue 79.8 156.6 230.0 309.2 85.0 168.5 246.4 331.9   +7.4% +7.4%
    REVENUE 475.1 959.7 1,417.8 1,868.2 463.7 922.7 1,376.6 1,844.8   (1.3)% (0.6)%
    UNDERWRITING INCOME (LOSS)
    AFTER REINSURANCE    		 95.3 198.8 290.0 395.4 100.3 195.0 283.8 368.7   (6.8)% (5.3)%
    Investment income, net of management expenses, excluding finance costs (2.6) 1.4 14.5 12.4 17.9 40.8 59.8 91.7   +638.0% +595.7%
    Insurance Finance Expenses (2.4) (14.7) (30.1) (40.0) (11.4) (18.1) (25.4) (42.5)   +6.4% +12.9%
    CURRENT OPERATING INCOME 90.4 185.5 274.4 367.9 106.8 217.7 318.2 417.9   +13.6% +12.8%
    Other operating income / expenses (0.3) (0.7) (0.9) (5.0) (0.1) (0.5) (3.1) (8.6)   +74.5% +74.2%
    OPERATING INCOME 90.0 184.8 273.4 362.9 106.8 217.2 315.1 409.2   +12.8% +12.0%
    NET INCOME (GROUP SHARE) 61.2 128.8 189.7 240.5 68.4 142.3 207.7 261.1   +8.6% +6.3%
    Income tax rate 25.5% 23.7% 23.8% 26.8% 27.2% 27.0% 26.5% 28.7%   +1.9 ppt  

    * Also excludes scope impact

    CONTACTS

    ANALYSTS / INVESTORS
    Thomas JACQUET: +33 1 49 02 12 58 – thomas.jacquet@coface.com
    Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 – rina.andriamiadantsoa@coface.com

    MEDIA RELATIONS
    Saphia GAOUAOUI: +33 1 49 02 14 91 – saphia.gaouaoui@coface.com
    Adrien BILLET: +33 1 49 02 23 63 – adrien.billet@coface.com

    FINANCIAL CALENDAR 2025
    (subject to change)

    Q1-2025 results: 5 May 2025 (after market close)
    Annual General Shareholders’ Meeting: 14 May 2025
    H1-2025 results: 31 July 2025 (after market close)
    9M-2025 results: 3 November 2025 (after market close)

    FINANCIAL INFORMATION
    This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website: http://www.coface.com/Investors

    For regulated information on Alternative Performance Measures (APM), please refer to our Interim Financial Report for H1-2024 and our 2023 Universal Registration Document (see part 3.7 “Key financial performance indicators”).

      Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust.
    You can check the authenticity on the website www.wiztrust.com.
     

    COFACE: FOR TRADE
    As a global leading player in trade credit risk management for more than 75 years, Coface helps companies grow and navigate in an uncertain and volatile environment.
    Whatever their size, location or sector, Coface provides 100,000 clients across some 200 markets. with a full range of solutions: Trade Credit Insurance, Business Information, Debt Collection, Single Risk insurance, Surety Bonds, Factoring.
    Every day, Coface leverages its unique expertise and cutting-edge technology to make trade happen, in both domestic and export markets.
    In 2024, Coface employed ~5,236 people and registered a turnover of €1.84 billion.

    www.coface.com

    COFACE SA is listed in Compartment A of Euronext Paris
    ISIN: FR0010667147 / Ticker: COFA

    DISCLAIMER – Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 “Main risk factors and their management within the Group” of the Coface Group’s 2023 Universal Registration Document filed with AMF on 5 April 2024 under the number D.24-0242 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group’s businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance.

    1RoATE = Return on average tangible equity
    2This estimated solvency ratio is a preliminary calculation made according to Coface’s interpretation of Solvency II regulations and using the Partial Internal Model. The final calculation may differ from this preliminary calculation. The estimated solvency ratio is not audited.
    3The distribution proposal will be submitted to the Shareholders’ Meeting to be held on 14 May 2025.
    4 Also excludes scope impact
    5 Book yield calculated on the average of the investment portfolio excluding non-consolidated subsidiaries.
    6 This estimated solvency ratio is a preliminary calculation made according to Coface’s interpretation of Solvency II regulations and using the Partial Internal Model. The final calculation may differ from this preliminary calculation. The estimated solvency ratio is not audited.
    7 The distribution proposal will be submitted to the Shareholders’ Meeting to be held on 14 May 2025.

    Attachment

    The MIL Network –

  • MIL-OSI: Coface appoints Gonzague Noël as Group Chief Operating Officer

    Source: GlobeNewswire (MIL-OSI)

    Coface appoints Gonzague Noël as Group Chief Operating Officer

    Paris, 20 February 2024 – 17.35

    Coface announces the appointment of Gonzague Noël as Group Chief Operating Officer. This change is effective as of 3 February 2025. Based in Paris, Gonzague reports to Xavier Durand, Chief Executive Officer of Coface. He replaces Declan Daly, who is pursuing his career outside the Group.

    Previously, Gonzague was Head of Global Business Administration & Strategic Initiatives at HSBC CIB, where he was responsible for optimizing resources and improving efficiency.

    He began his career at GE Healthcare in 2001 before holding various management positions within GE Corporate and GE Capital, overseeing strategic projects, M&A operations and operational transformations in Europe, Asia and America.

    With more than 20 years of international experience, Gonzague brings to Coface solid strategic and operational expertise in the management of large-scale transformation projects.
    Gonzague holds a Master of science (MSc) from Emlyon Business School.

    CONTACTS

    ANALYSTS / INVESTORS
    Thomas JACQUET: +33 1 49 02 12 58 – thomas.jacquet@coface.com
    Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 – rina.andriamiadantsoa@coface.com

    MEDIA RELATIONS
    Saphia GAOUAOUI: +33 1 49 02 14 91 – saphia.gaouaoui@coface.com
    Adrien BILLET: +33 1 49 02 23 63 – adrien.billet@coface.com

    FINANCIAL CALENDAR 2025
    (subject to change)

    Q1-2025 results: 5 May 2025 (after market close)
    Annual General Shareholders’ Meeting: 14 May 2025
    H1-2025 results: 31 July 2025 (after market close)
    9M-2025 results: 3 November 2025 (after market close)

    FINANCIAL INFORMATION
    This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website: http://www.coface.com/Investors

    For regulated information on Alternative Performance Measures (APM), please refer to our Interim Financial Report for H1-2024 and our 2023 Universal Registration Document (see part 3.7 “Key financial performance indicators”).

      Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust.
    You can check the authenticity on the website www.wiztrust.com.
     

    COFACE: FOR TRADE
    With over 75 years of experience and the most extensive international network, Coface is a leader in Trade Credit Insurance & risk management, and a recognized provider of Factoring, Debt Collection, Single Risk insurance, Bonding, and Information Services. Coface’s experts work to the beat of the global economy, helping ~100,000 clients in 100 countries build successful, growing, and dynamic businesses. With Coface’s insight and advice, these companies can make informed decisions. The Group’ solutions strengthen their ability to sell by providing them with reliable information on their commercial partners and protecting them against non-payment risks, both domestically and for export. In 2024, Coface employed ~5,236 people and registered a turnover of €1.84 billion.

    www.coface.com

    COFACE SA is listed in Compartment A of Euronext Paris
    ISIN: FR0010667147 / Ticker: COFA

    DISCLAIMER – Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 “Main risk factors and their management within the Group” of the Coface Group’s 2023 Universal Registration Document filed with AMF on 5 April 2024 under the number D.24-0242 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group’s businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance.

    Attachment

    The MIL Network –

  • MIL-OSI USA: Cantwell, Colleagues File Amicus Brief Over Illegal Inspectors General Firings

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell

    02.20.25

    Cantwell, Colleagues File Amicus Brief Over Illegal Inspectors General Firings

    WASHINGTON, D.C. – This week, U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation and senior member of the Senate Finance Committee, joined 26 Senate Democrats in filing an amicus brief in support of a lawsuit brought by eight inspectors general (IGs) who were illegally fired by President Donald Trump. The Senators noted that the role of an inspector general is to uncover government waste, corruption, or illegal actions by political appointees and ensure the laws enacted by Congress are faithfully executed. In 2022, by a vote of 93 to 1, the Senate voted to strengthen existing IG protections to require that Congress be notified at least 30 days in advance of the removal of any Inspector General.

    “Inspectors General (“IGs”) are responsible for uncovering and preventing waste, fraud, and abuse in the administration of federal programs. Their investigations, reports, and audits are crucial tools in uncovering corruption and mismanagement in the executive branch, and IGs are vital to fulfilling Congress’ constitutional oversight responsibilities. For those reasons, Congress requires the President by law to provide notice to Congress, and thus an opportunity for interbranch consultation, before removing an Inspector General from position,” wrote the Senators in the amicus brief.

    “IGs are, by design and by law, not partisan political appointees who the President must be able to dispose of at will, lest their faults be attributed to the President,” the Senators continued.

    The eight inspectors general who are suing President Trump and other administration officials over their illegal firings are part of a larger group of about 17 independent inspectors general who were illegally fired on January 24. In order to protect the independence of America’s nonpartisan IGs, federal law explicitly requires the President to provide Congress both a 30-day notice and communicate in writing a “substantive rationale, including detailed and case-specific reasons,” for the termination. However, as the plaintiffs explain in their complaint, and as the Senators describe in their amicus brief, President Trump did not follow the law.

    • Department of Defense
    • Veterans Affairs
    • Health and Human Services
    • State Department
    • Department of Education
    • Department of Agriculture
    • Department of Labor
    • Small Business Administration

    The amicus brief, led by Senate Minority Leader Schumer (D-NY), and Senators Tim Kaine (D-VA), and Chris Coons (D-DE) was also signed by Senators Welch (D-VT), Schiff (D-CA), Luján (D-NM), Blumenthal (D-CT), Van Hollen (D-MD), Duckworth (D-IL), Hassan (D-NH), Bennet (D-CO), Cortez Masto (D-NV), Heinrich (D-NM), Schatz (D-HI), Shaheen (D-NH), Whitehouse (D-RI), Gallego (D-AZ), Slotkin (D-MI), Warren (D-MA), Gillibrand (D-NY), Kelly (D-AZ), Hirono (D-HI), Klobuchar (D-MN), Durbin (D-IL), Peters (D-MI), Reed (D-RI), Booker (D-NJ), and Rosen (D-NV).

    The full amicus brief is available HERE.

    MIL OSI USA News –

  • MIL-OSI USA: America Is Back — and President Trump Is Just Getting Started

    US Senate News:

    Source: The White House
    President Donald J. Trump took office just one month ago, but has already accomplished more than most presidents do in their entire term as he makes good on his promise to usher in the New Golden Age of America.
    Here is a non-comprehensive list of President Trump’s wins after just one month:
    SECURING OUR HOMELAND:
    President Trump declared a national emergency at the border and deployed the military, including the 10th Mountain Division, to secure our nation.
    Illegal border crossings have hit lows not seen in decades as U.S. Border Patrol is re-empowered to once again enforce the law.
    ABC News: “From Jan. 21 through Jan. 31, the number of U.S. Border Patrol apprehensions along the southwest border dropped 85% from the same period in 2024, according to data obtained by ABC News. In the 11 days after Jan. 20, migrants apprehended at ports of entry declined by 93%.”

    Illegal aliens have started turning around in droves amid the crackdown.
    The Department of Homeland Security announced that arrests of criminal illegal immigrants have doubled under President Trump.
    President Trump signed the Laken Riley Act into law, which requires illegal immigrants arrested or charged with theft or violence to be detained — honoring the legacy of Laken Riley, a Georgia college student brutally murdered by an illegal alien released into the country.
    President Trump ended “catch-and-release,” reversing the dangerous Biden-era policy that released dangerous illegal aliens back into our communities.
    President Trump shut down the “CBP One” app, which “paroled” more than one million illegal immigrants into the country.
    A migrant shelter in San Diego announced it will shut down after it has received no new arrivals since President Trump took office.

    President Trump terminated all taxpayer-funded public benefits for illegal aliens.
    President Trump ramped up deportation flights of criminal illegal aliens.
    After President Trump announced “urgent and decisive retaliatory measures” against Colombia over its refusal to accept deportation flights from the U.S., the country’s president quickly backtracked — even offering the use of his personal plane for the deportations.
    El Salvadorian President Nayib Bukele offered to accept deportees of any nationality, including violent American criminals currently imprisoned in the U.S.

    President Trump began transferring criminal illegal aliens to Guantanamo Bay ahead of their repatriation back to their own countries.
    President Trump re-established the successful “Remain in Mexico” policy.
    President Trump restarted construction of the border wall.
    The Trump Administration officially declared Tren de Aragua, MS-13, the Sinaloa Cartel, the Jalisco New Generation Cartel, the United Cartels, the Gulf Cartel, the Northeast Cartel, and the Michoacán Family as Foreign Terrorist Organizations.
    New York City Mayor Eric Adams (D) agreed to allow federal immigration officials to operate on Rikers Island and deport illegal alien criminals following his meeting with Border Czar Tom Homan.
    Mexico announced a deployment of 10,000 troops to the border to combat illegal immigration and fentanyl trafficking, while Canada announced a flurry of measures to combat fentanyl manufacturing and trafficking following President Trump’s imposition of tariffs on the two countries.
    President Trump implemented an additional 10% tariff on imports from China in order to stem the flow of illegal aliens and fentanyl.
    President Trump ordered an end to birthright citizenship.
    President Trump suspended the U.S. Refugee Admissions Program.
    The Department of Justice filed suit against the State of New York and some of its elected officials over their willful failure to follow federal immigration law and announced that it will take action against so-called “sanctuary cities” for their obstruction of U.S. law.
    The Department of Homeland Security “clawed back” tens of millions of dollars in funds paid by rogue FEMA officials to house illegal aliens in luxury New York City hotels.
    President Trump reinstated the death penalty for federal capital crimes.
    PROTECTING AMERICAN WORKERS AND FOSTERING ECONOMIC GROWTH:
    President Trump restored a 25% tariff on steel imports and elevated the tariff to 25% on aluminum imports to protect these critical American industries from unfair foreign competition — a move praised by the Steel Manufacturers Association, the Aluminum Association, and businesses across the country.
    Robert Simon, CEO of JSW Steel USA, praised President Trump’s steel and aluminum tariffs, celebrating them “as a project that will flood the U.S. with jobs as trading partners move their industries to U.S. soil to avoid tariffs.”

    Makoto Uchida, the CEO of global automaker Nissan, said President Trump’s tariffs could push the car manufacturer to move its production from Mexico to the U.S.
    President Trump unveiled a plan for fair and reciprocal trade, making clear to the world that the United States will no longer tolerate being ripped off.
    President Trump secured hundreds of billions of dollars in new investments.
    President Trump announced the largest artificial intelligence infrastructure project in history, securing $500 billion in planned private sector investment — with major CEOs agreeing it would not have been possible without President Trump’s leadership.
    Saudi Arabia declared its intention to invest $600 billion in the United States over the next four years.
    President Trump secured a $20 billion investment by DAMAC Properties to build new U.S.-based data centers.
    Taiwan pledged to boost its investment in the United States.
    Electronics giants Samsung and LG “are considering moving their plants in Mexico to the U.S.” now that President Trump is back in office.

    In February, forecasters from the Federal Reserve Bank of Philadelphia revised their economic growth projections for the first quarter of 2025 up from 1.9% to 2.5%, and their unemployment rate projections for the quarter down from 4.2% to 4.1%.
    After a meeting with President Trump, Stellantis announced it will reopen its assembly plant in Belvidere, Illinois — putting 1,500 employees back to work — and build its next-generation Dodge Durango in Detroit, Michigan. The company also announced new investments in their Toledo, Ohio, and Kokomo, Indiana, facilities.
    President Trump laid out a visionary plan to establish a Sovereign Wealth Fund to maximize the stewardship of the $5+ trillion in assets held by the United States.
    Following President Trump’s victory, the S&P 500 set a new record as the stock market surged to record highs — while major Wall Street firms like JP Morgan Chase posted their highest ever annual profits.
    LOWERING THE COST OF LIVING:
    President Trump directed the heads of all executive departments and agencies to “deliver emergency price relief … to the American people and increase the prosperity of the American worker.”
    President Trump established the National Energy Dominance Council to maximize use of the U.S.’ extensive energy resources, thereby enabling lower energy prices.
    Crude oil prices have fallen over 5% since President Trump took office.
    The Department of Energy postponed burdensome Biden-era efficiency standard rules for the following appliances, saving American consumers large sums:
    Central air conditioners: Biden rules were slated to make air conditioners $1,100 more expensive, according to Alliance for Consumers.
    Gas water heaters: Biden rules were slated to make water heaters $2,800 more expensive.
    Clothes washers and dryers: Biden rules were slated to make washers $200 more expensive.
    Light bulbs: Biden rules were slated to make light bulbs $140 more expensive.
    Walk-in coolers and freezers, commercial refrigeration equipment, and air compressors.

    The total cost of federal regulations in 2023 was a record-breaking $2.1 trillion, or $15,788 per U.S. household, according to the Competitive Enterprise Institute. By requiring agencies to identify at least ten existing rules, regulations, or guidance documents to be repealed for every one rule they promulgate, President Trump has put the U.S. on track to severely reduce regulatory costs for everyday Americans.
    The National Associations of Manufacturers found the cost of federal regulations was even greater — at $3.079 trillion in 2022.

    Secretary Sean Duffy’s very first action at the Department of Transportation was to initiate rulemaking resetting Corporate Average Fuel Economy (CAFE) standards — effectively eliminating the Biden-era electric vehicle mandate.
    NBER economist Mark R. Jacobsen “estimates that a one-mpg increase in CAFE standards costs consumers of all income levels approximately 0.5% of their income in the first year of the increase. By the 10th year following the increase, however, this cost becomes regressive, as the increase drives up the price of used cars. A one-mpg increase in CAFE standards costs consumers earning less than $25,000 per year 1.12% of their income, but only costs consumers earning more than $75,000 per year 0.41% of their income.”

    RE-ESTABLISHING AMERICAN STRENGTH:
    President Trump secured the release of six American hostages in Venezuela, two Americans in Afghanistan, an American-Israeli citizen in Hamas captivity, a Pennsylvania teacher in Russian captivity, and an American citizen in Belarus — bringing the total number of American hostages released under President Trump to 11.
    President Trump spoke with Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy in pursuit of finally securing peace as negotiations get underway.
    President Trump restored maximum pressure on Iran, “sanctioning an international network for facilitating the shipment of millions of barrels of Iranian crude oil worth hundreds of millions of dollars to the People’s Republic of China.”
    President Trump redesignated the Iran-backed Houthis as a Foreign Terrorist Organization.
    President Trump hosted Israeli Prime Minister Benjamin Netanyahu for a visit where he proposed a bold vision for securing lasting peace in Gaza.
    Former U.S. Ambassador to Israel David Friedman described the proposal as “brilliant, historic and the only idea I have heard in 50 years that has a chance of bringing security, peace and prosperity to this troubled region.”

    President Trump hosted Japanese Prime Minister Shigeru Ishiba, who announced his intention to “elevate Japan’s investment in the United States to an unprecedented amount of $1 trillion,” import “historic” quantities of LNG from Alaska, and open new auto plants in the U.S.
    President Trump hosted Jordan’s King Abdullah II, who announced that the Kingdom will accept 2,000 sick children from Gaza “as quickly as possible.”
    President Trump hosted Indian Prime Minister Narendra Modi for a visit where they announced new deals between the two countries on immigration, trade, energy, and artificial intelligence.
    President Trump banned funding to UNRWA — a United Nations agency that employed hundreds of Hamas and jihad operatives.
    President Trump imposed sanctions on the International Criminal Court, which has illegitimately asserted jurisdiction over internal U.S. matters and baselessly targeted Israeli Prime Minister Benjamin Netanyahu.
    President Trump reinstated the Mexico City Policy to ensure no taxpayer dollars support foreign organizations that perform, or actively promote, abortion in other nations.
    The Department of State ordered embassies worldwide to only fly the American flag — not activist flags.
    President Trump declared all foreign policy must be conducted under the President’s direction, ensuring career diplomats reflect the foreign policy of the United States at all times.
    The Department of State declared that U.S. foreign policy will be America First going forward.
    Following a visit from Secretary of State Marco Rubio, Panamanian President José Raúl Mulino agreed to withdraw from China’s Belt and Road Initiative, a debt-trap diplomacy scheme the Chinese Communist Party uses to gain influence over developing nations.
    The U.S. rejoined the Geneva Consensus Declaration, which promotes and strengthens opportunities for women and girls around the world, and protects the family as the fundamental unit of society.
    President Trump cracked down on anti-Semitism by canceling visas for foreign students who are Hamas sympathizers.
    President Trump ordered the immediate dismissal of the Board of Visitors for the Army, Air Force, Navy, and Coast Guard following years of woke ideologies infiltrating U.S. service academies.
    The U.S. Army barred transgender people from enlisting and stopped using taxpayer funds for sex change surgeries.
    President Trump reinstated, with backpay, U.S. service members who were discharged under the military’s nonsensical COVID-19 vaccine mandate.
    Secretary of Defense Pete Hegseth restored Fort Liberty, North Carolina, to “Fort Bragg,” in honor of a World War II hero.
    President Trump withdrew the U.S. from the World Health Organization.
    President Trump paused enforcement of the overregulation of American businesses abroad, which negatively impacted national security.
    President Trump proclaimed “Gulf of America Day” after the Department of the Interior officially established it on its mapping databases.
    President Trump initiated a process to build a next-generation missile defense shield over the United States.
    UNLEASHING AMERICAN ENERGY:
    President Trump declared a National Energy Emergency to unlock America’s full energy potential and bring down costs for American families.
    President Trump rescinded every one of the Biden Administration’s job-killing, pro-China, anti-American energy regulations.
    President Trump empowered Americans with choice in vehicles, showerheads, toilets, washing machines, light bulbs, and dishwashers, and killed Biden-era regulations that restricted water flow and mandated inadequate light bulb standards.
    President Trump terminated the job-killing Green New Scam.
    President Trump withdrew from the disastrous Paris Climate Agreement, which unfairly ripped off our country.
    President Trump paused federal permitting for massive wind farms, which degrade our natural landscapes and fail to serve American consumers.
    President Trump reversed bureaucratic regulations that impeded Alaska’s ability to develop its vast natural resources.
    President Trump re-opened 625 million acres for offshore drilling, which Biden banned in his waning days, in order to “drill, baby, drill.”
    President Trump scrapped an Obama-era rule on greenhouse gases.
    President Trump ended the Liquefied Natural Gas pause and approved the first LNG project since the Biden Administration banned them last year.
    BRINGING BACK COMMON SENSE:
    Health systems across the nation stopped or downsized their sex change programs for minors following President Trump’s “Protecting Children from Chemical and Surgical Mutilation” executive order.
    In Illinois, Chicago’s Lurie Children’s Hospital paused sex-change surgeries for patients under 19 as it “work[s] to understand the rapidly evolving environment.”
    In Colorado, Denver Health announced it would stop performing sex change surgeries on minor children, while UCHealth said it was ending so-called “gender-affirming care” for all minors.
    In Washington, D.C., Children’s National Hospital “paused” prescribing puberty blockers and hormone therapies for minors, while Northwest Washington Hospital did the same.
    In Virginia, VCU Health and Children’s Hospital of Richmond “suspended” providing transgender-related medication and surgeries for minors, while UVA Health also “suspended” transgender-related services for minors.

    President Trump ended the unfair, demeaning practice of forcing women to compete against men in sports — which resulted in the NCAA changing its rules.
    The Department of Education launched investigations into the California Interscholastic Federation and the Minnesota State High School League over their failures to comply.

    President Trump made it the official policy of the U.S. government that there are only two sexes.
    President Trump banned COVID-19 vaccine mandates at schools that receive federal funding.
    President Trump rolled back the Biden-era push to mandate paper straws.
    President Trump instructed the Secretary of the Treasury to stop production of the penny, which cost 3.69 cents each to make.
    President Trump directed full enforcement of the Hyde Amendment, which bars taxpayer dollars from being used to fund or promote elective abortion.
    The Department of Transportation terminated the approval for New York City’s burdensome “congestion pricing” scheme.
    RESTORING ACCOUNTABILITY AND TRANSPARENCY IN GOVERNMENT
    President Trump established the Department of Government Efficiency (DOGE) to maximize government productivity and ensure the best use of taxpayer funds — which has already achieved billions of dollars in savings for taxpayers.
    President Trump commenced his plan to downsize the federal bureaucracy and eliminate waste, bloat, and insularity.
    President Trump ordered federal workers to return to the office five days a week.
    President Trump ordered federal agencies hire no more than one employee for every four employees who leave.
    President Trump ended the wasteful Federal Executive Institute, which had become a training ground for bureaucrats.
    President Trump ordered the termination of all federal Fake News media contracts.

    President Trump ordered the Consumer Financial Protection Bureau — the brainchild of Elizabeth Warren, which funneled cash to left-wing advocacy groups — to halt operations.
    President Trump ordered an end to anti-Christian bias in the Federal Government.
    President Trump ordered an examination of all regulations to assess any infringements on Americans’ Second Amendment rights.
    The Environmental Protection Agency canceled tens of millions of dollars in contracts to left-wing advocacy groups, announced an investigation into a scheme by Biden EPA staffers to shield billions of dollars from oversight and accountability, and put 168 “environmental justice” employees on leave.
    President Trump stopped the waste, fraud, and abuse within USAID — ensuring taxpayers are no longer on the hook for funding the pet projects of entrenched bureaucrats, such as sex changes in Guatemala.
    President Trump ordered an end to the weaponization of the Federal Government against American citizens.
    The Department of Justice immediately began rooting out politically motivated lawfare that occurred in the Biden Administration.

    President Trump reversed the massive over-expansion of the IRS that took place during the Biden Administration.
    President Trump eliminated discriminatory DEI offices, employees, and practices across the bureaucracy alongside a return to merit-based hiring — including at the Federal Aviation Administration, where the Biden Administration specifically recruited individuals with intellectual disabilities and psychiatric issues.
    As a result, taxpayer-funded PBS closed its DEI office, Disney dropped two of its DEI programs, Goldman Sachs ended its DEI policy, and Institutional Shareholder Services announced it would no longer consider diversity of company boards when making its voting recommendations.
    The Federal Communications Commission opened an investigation into discriminatory DEI policies at Comcast, an entity it regulates.

    President Trump ordered an end to all censorship of Americans by the federal government.
    President Trump ordered a review of funding for all non-governmental organizations, so taxpayers are no longer funding those that undermine America’s interests.
    The Department of State issued a “pause” on existing foreign aid grants to ensure accountability and efficiency.

    President Trump lifted last-minute collective bargaining agreements issued by the Biden Administration, which sought to impede reform.
    President Trump overrode bureaucratic red tape that limited water availability in California following the failure of the state’s water system during the devastating wildfires.
    President Trump terminated the Biden-era electric vehicle mandate.
    President Trump suspended the Biden-era EV charging program, which had resulted in just eight charging stations despite $7.5 billion earmarked for the program.

    President Trump shut down the wasteful Biden-era “Climate Corps” program.
    The Federal Communications Commission took action against a Soros-backed radio station that leaked sensitive information about ICE operations.
    President Trump ordered the declassification of documents related to the assassinations of President John F. Kennedy, Jr., Robert F. Kennedy, and Rev. Dr. Martin Luther King, Jr.
    President Trump opened the White House Press Briefing Room to non-legacy media outlets as the White House sets a new standard for transparency in the digital age.
    President Trump reinstated press privileges for roughly 440 journalists who the Biden Administration sought to silence.
    President Trump fired members of The Kennedy Center’s Board of Trustees amid their obsession with perpetuating radical, left-wing ideology at taxpayer expense.
    President Trump revoked the security clearances of the 51 “spies who lied.”
    EMPOWERING THE AMERICAN PEOPLE
    President Trump established the Make America Healthy Again Commission, which redirects the national focus to promoting health rather than simply managing disease.
    President Trump took executive action to expand access to in vitro fertilization (IVF).
    President Trump established the White House Faith Office to protect Americans’ religious liberty.
    President Trump ordered an end to the radical indoctrination of children in K-12 schools that receive federal funding.
    President Trump took executive action to support parents in choosing the best education for their children.
    President Trump established the Presidential Working Group on Digital Asset Markets to strengthen U.S. leadership in digital finance.
    President Trump granted full and unconditional pardons to 23 pro-life Americans who were unjustly persecuted by the Biden Administration.
    President Trump pardoned two Washington, D.C., police officers who were imprisoned simply for doing their jobs of apprehending criminals.
    President Trump has had his cabinet confirmed by the Senate at a far faster pace than his predecessors, with a majority of his cabinet earning confirmation in his first month.

    MIL OSI USA News –

  • MIL-OSI USA: SBA Relief Still Available to New Mexico Small Businesses and Private Nonprofits Affected by Summer Fires

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in New Mexico of the March 20, 2025 deadline to apply for low interest federal disaster loans to offset economic losses caused by the South Fork Fire, Salt Fire and flooding that occurred June 17‑Aug. 20, 2024.

    The disaster declaration covers the counties of Chaves, De Baca, Doña Ana, Eddy, Guadalupe, Lincoln, Los Alamos, McKinley, Mora, Otero, Rio Arriba, San Juan, Sandoval, Santa Fe, Sierra, Socorro, Taos, Torrance and the tribal region of Mescalero Apache Tribe in New Mexico, as well as Apache County in Arizona, Archuleta, Conejos, La Plata and Montezuma counties in Colorado, Culberson, El Paso and Hudspeth counties in Texas, and San Juan County in Utah.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs that suffered financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

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

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.

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

    The deadline to return economic injury applications is March 20.

    ###

    About the U.S. Small Business Administration

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

    MIL OSI USA News –

  • MIL-OSI USA: Attorney General James Leads Multistate Coalition to Defend the Consumer Financial Protection Bureau

    Source: US State of New York

    NEW YORK – New York Attorney General Letitia James today co-led a coalition of 23 attorneys general to warn against efforts by the Trump administration and Elon Musk to defund and disband the Consumer Financial Protection Bureau (CFPB). The CFPB is an independent agency that oversees big banks, lenders, credit card companies, and mortgage servicers and ensures companies are following federal consumer protection laws. Since its creation, the CFPB has helped millions of New Yorkers and Americans by helping homeowners facing foreclosure stay in their homes, stopping banks from charging junk fees, and returning more than $20 billion to the pockets of consumers nationwide. Attorney General James and the coalition argue in an amicus brief filed in the U.S. District Court for the District of Maryland that dismantling the CFPB would significantly harm consumers and hamper enforcement of federal consumer protection laws.

    “Eliminating the CFPB will hurt everyday people and benefit billionaires like Elon Musk and his friends,” said Attorney General James. “The CFPB has put billions of dollars back in the pockets of Americans by going after predatory lenders, deceptive companies, and slashing junk fees. The only reason to get rid of this watchdog agency is to protect bad actors. Working families need the CFPB, especially as rising prices are making it hard to make ends meet and put food on the table. My office is leading this coalition to help protect the agency that has protected all of us.”

    On February 9, the Trump administration directed the CFPB to stop all its ongoing work and to not begin any new investigations. The CFPB was formed in 2011 following the Great Recession to enforce federal consumer protection laws. Since its creation, the CFPB has worked with state attorneys general to address consumer issues related to banking, student loan servicers, mortgage servicers, auto lending, and other consumer financial matters. The CFPB has also partnered with attorneys general to stop deceptive, unfair, and abusive conduct by companies. As a result of the Trump administration’s actions, the nation’s largest banks are no longer being closely watched for compliance with key consumer protections by any federal regulator.

    In their brief, Attorney General James and the coalition argue that the administration’s efforts to destroy the CFPB could prevent consumers from reporting issues of fraud or deception. The coalition also writes that efforts to shut down the CFPB would significantly reduce oversight of big banks, further harming consumers. The attorneys general warn that this may lead to financial institutions loosening their regulatory compliance, as was seen in the years leading up to the financial crisis.

    Attorney General James has partnered with the CFPB on several actions to protect consumers and hold companies accountable. In January 2024, Attorney General James, the CFPB, and a multistate coalition sued a web of related shell companies for running an illegal debt-relief enterprise and swindling consumers out of more than $100 million. In April 2024, Attorney General James, the CFPB, and a multistate coalition won an $811 million judgment against a bond services company, Libre by Nexus, for unfairly targeting immigrants and their families with deceptive and abusive tactics. In January 2023, Attorney General James and the CFPB sued one of the nation’s largest auto lenders, Credit Acceptance Corporation (CAC), for deceiving thousands of low-income New Yorkers into signing high-interest car loans. The CFPB and the Office of the Attorney General (OAG) also sued a cash advance company for defrauding 9/11 victims out of money intended to help cover their medical costs, lost income, and other critical needs.

    Joining Attorney General James in filing today’s brief are the attorneys general of Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New Mexico, North Carolina, Oregon, Rhode Island, Vermont, Washington, Wisconsin, and the District of Columbia.

    MIL OSI USA News –

  • MIL-OSI: Slide Launches Next-Generation BCDR Solution Purpose-Built for MSPs

    Source: GlobeNewswire (MIL-OSI)

    NORWALK, Conn., Feb. 20, 2025 (GLOBE NEWSWIRE) — Slide, the modern, security-first Business Continuity & Disaster Recovery (BCDR) solution purpose-built for Managed Service Providers (MSPs), officially launches today. Backed by industry veterans, Slide is transforming BCDR by addressing critical gaps left by outdated technology, inflexible pricing models, and subpar support.

    Co-founded by Austin McChord, Founder & former CEO of Datto, and Michael Fass, former General Counsel & Chief People Officer at Datto, Slide is setting a new standard in modern backup solutions for MSPs with a focus on security, product innovation, and exceptional support.

    “BCDR for MSPs has been long overdue for reinvention. At Slide, we’ve built a modern solution from scratch—free of legacy constraints—giving MSPs the security, performance, and pricing flexibility they need to grow their business into the future,” said Austin McChord, Co-Founder and Chairman of Slide.

    Slide sets a new standard in BCDR for MSPs by building on four foundational pillars to set it apart from legacy backup providers.

    A Product-First Company – Slide was designed from scratch from a clean-room code base and zero legacy technical debt. Every dollar earned is reinvested into continuous product development and improvement of Slide’s technology platform—one that MSPs can rely on for the next decade and beyond.

    Security-First Architecture – Data security isn’t an afterthought. It is built into Slide’s DNA. In an era of rising cyber threats, Slide is the only BCDR provider that offers native data encryption by default both in transit and at rest with no data storage penalty. Encryption is a critical component in protecting end customers’ data from ransomware, breaches, and insider threats.

    Unmatched Direct-to-Tech Support – Support is at the core of Slide. Direct-to-tech support ensures MSPs have immediate access to engineers via phone, chat, and email. From white-glove onboarding to concierge support, Slide has your back when it matters most.

    Channel-First Business Model – Slide is 100% channel-focused. Exclusively committed to the MSP community and ecosystem, ensuring MSP partners have a solution they can trust—without conflicts of interest. This mindset translates all the way through to a no commitment pricing model to give MSPs maximum flexibility.

    “MSPs deserve a BCDR solution that is snappy, modern, powerful and easy to use along with world class support and flexible pricing. Slide was built for MSPs, and we’re a backup company at our core. We started with the hardest problem to solve—a robust, appliance-based backup solution to back up on-prem workloads. But this is just the beginning, more products are on the way,” said Michael Fass, Co-Founder and CEO of Slide.

    “We’re thrilled to be a Slide launch partner. It has handled our toughest backup and recovery scenarios with ease. The user-friendly interface is fast and intuitive, saving our technicians valuable time. The Slide Z1 is compact yet incredibly powerful, outperforming all our existing backup devices. We’re excited to bring Slide to our customers and elevate our service offerings,” said Brendan Cosgrove, COO, TeamLogic IT.

    The Slide Z1 appliance is engineered for simplicity and reliability, offering:

    • Modern architecture – Built from scratch with a clean-room code base and no legacy technical debt.
    • Extreme performance – NVMe based appliance and cloud servers to deliver unprecedented speed and efficiency.
    • Comprehensive security – Mandatory, native encryption with no data storage penalty, ensuring data protection without sacrificing performance or space.
    • Powerful recovery options – Instant virtualization, block-level backups, file restores, and image exports.

    “Slide has already proven its value across multiple clients. With a recent client’s file server failure, their world-class support had us connected to an expert within minutes. We quickly restored operations with a local VM on the Z1, and over the next 72 hours, Slide stayed in close contact to ensure a seamless redeployment. From start to finish, they had our back—we knew we had a partner we could count on,” said Charles Love, Head of Operations, ShowTech Solutions.

    At launch, Slide delivers a robust feature set designed to maximize efficiency and security. An industry-first feature, Active Reclaim, which optimizes storage by automatically identifying and reclaiming unused space, delivers significant space savings to client backups. Additionally, Slide is committed to deep integrations with industry-leading platforms, ensuring seamless workflows for MSPs. Key partnerships include ScalePad’s Backup Radar, enabling automated backup monitoring and compliance, and Timus Networks, a next-generation Secure Access Service Edge (SASE) provider, strengthening MSPs’ cybersecurity offerings.

    “At ScalePad, we’re thrilled to partner with Slide as one of the first integrations they’ve chosen. Integrating Backup Radar with Slide presents a unique opportunity to push BCDR automation to the next level, giving MSPs the insight they need to ensure every backup is monitored, secure and recoverable when it matters most. Slide’s open API provides deep access to a wide range of functions, allowing us to create the most advanced Backup Radar integration yet. The result is a seamless, intuitive experience that MSPs can trust to reduce risk and increase efficiency – for you and your customers. We’re excited about the partnership and the opportunity it offers for MSPs,” said ScalePad CEO, Chris Day.

    “The MSP community matters so much to me, and I couldn’t be more excited to be back with a new BCDR solution that should raise the bar for everyone. With Slide, we’re delivering a fresh, modern, secure BCDR, designed for MSPs to thrive for the next decade and beyond. The most fun part is that this is just the beginning. I can’t wait to be a part of Slide’s impact of empowering MSPs to grow and succeed,” said McChord.

    The Slide Z1 appliance is available immediately in capacities ranging from 1TB to 16TB and the Slide R1 rackmount appliance configurable up to 64 TB. For more information, please visit slide.tech or contact sales@slide.tech.

    About Slide
    Slide is a modern, security-first Business Continuity & Disaster Recovery (BCDR) company built exclusively for Managed Service Providers (MSP). Founded by Austin McChord (Datto Founder & former CEO) and Michael Fass (former Datto General Counsel & Chief People Officer), Slide is led by a team of industry veterans with deep expertise in backup, disaster recovery, and cybersecurity. Built from scratch, from a clean-room code base, free from legacy technical debt, to deliver the MSP-centric backup and recovery platform of the future. By focusing on security, performance, and simplicity, Slide provides a powerful, cost-effective, and easy-to-use solution that ensures MSPs can protect their clients’ data without the constraints of outdated technology, restrictive pricing models and subpar support. Based in Norwalk, Connecticut, Slide is backed by Outsiders Fund. For more information, visit slide.tech and follow Slide on LinkedIn.

    Media Contact
    media@slide.tech

    The MIL Network –

  • MIL-OSI United Kingdom: Kindred Studios set to return to North Paddington with a permanent home at 300 Harrow Road | Westminster City Council

    Source: City of Westminster

    Kindred Studios are poised to make a return to North Paddington, having been selected to manage the new purpose-built enterprise space in the 300 Harrow Road development. Previously located at the former Westminster College in Maida Vale, they are delighted to be back in the borough, supporting the creative community.  

    The new enterprise space is part of a comprehensive regeneration project led by the council, which includes new truly affordable homes, a nursery, community space and a community café. The affordable business space is a key component of the council’s Enterprise Space programme and is designed to serve as a hub for creative incubation, education and outreach. This aligns with the council’s vision for North Paddington, centred around creating a more inclusive, connected and vibrant community.  

    North Paddington is one of several areas designated as Creative Enterprise Zone (CEZ), with the Mayor of London granting £170,000 towards fostering a vibrant creative and cultural economy in the area and opening opportunities for local people. This comes at a crucial time, as there have been significant losses of space for creatives across the capital, and in North Paddington this included Kindred Studios’ previous home, and the London Print Studio. 

    The council will now begin working with Kindred Studios who will fit out the space in the coming months, with an opening anticipated later this year. Once completed the 7,500 square foot space will be equipped with around 30 – 36 affordable studios, and co-working spaces for up to 100 local creatives and businesses. Kindred Studios will soon be inviting applications from artists to express interest in the new space. Stay informed by signing up for the Westminster Business Newsletter. 

     

    Cllr Geoff Barraclough, Cabinet Member for Planning and Economic Development, said:  

    “Small businesses in the creative sector need space but often can’t afford market rents in central London.  

    “That’s why we’re delighted to welcome Kindred Studios to manage our newly purpose-built low-cost workspace at 300 Harrow Road, located in our North Paddington Creative Enterprise Zone.   

    “Kindred will run a continuous programme of networking, training, and events to transform the council’s newest enterprise space into a permanent, supportive environment for creative businesses. With our help, these small businesses will soon grow into bigger ones, generating good growth and employment for local people.” 

    Angelique Schmitt, Founder and CEO, of Kindred Studios said: 

    “It’s a great pleasure for us to be back in the borough, working alongside Westminster Council to deliver a hugely exciting new facility that will benefit creatives, college students, and the wider public with a transformative arts programme designed to foster connection and engagement.” 

    MIL OSI United Kingdom –

  • MIL-OSI: Asure Introduces Luna, the Industry’s First AI Agent for Payroll & HR

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, Feb. 20, 2025 (GLOBE NEWSWIRE) — Asure (NASDAQ: ASUR), a leading provider of cloud-based Human Capital Management (HCM) software and services, today announced the introduction of Luna, a groundbreaking AI Agent designed to enhance payroll and HR management. Unlike traditional generative AI chatbots, Luna is an advanced AI agent that understands Asure’s suite of products, serves as an industry expert, and most importantly, can take action on behalf of both employees through self-service and business owners and administrators. Luna enhances payroll and HR tasks, making them more seamless for businesses and their employees.

    “Luna is not just an AI chatbot that provides answers—she gets things done,” said Pat Goepel, Chairman and CEO of Asure. “With Luna, employees can simply ask for help, and she will take care of the rest—whether it’s updating personal details, changing benefits elections, or helping navigate changes in tax and labor laws. Luna makes payroll and HR frictionless.”

    Luna: AI That Works for You

    Employees often struggle with knowing what HR and payroll updates are necessary when life changes occur. Luna removes that complexity by guiding employees through key decisions and making the necessary changes for them.

    For example, if an employee gets married and needs to update their last name, address, and benefits elections, they may not know every detail that requires updating. Luna assists by guiding the employee through the necessary changes and helping facilitate updates across payroll and HR systems, reducing administrative burden and improving efficiency for both employees and employers.

    A Game-Changer for Businesses

    Luna is built to help businesses stay compliant with evolving regulations while reducing administrative burden. By empowering employees to handle their HR and payroll needs through simple voice or text commands, Luna minimizes the need for HR teams to process routine requests, allowing them to focus on strategic initiatives that drive business growth.

    “With Luna, we are introducing a new way to simplify payroll and HR, and we look forward to refining and expanding her functionality throughout 2025,” said Goepel. “She enhances the employee experience while helping businesses streamline operations, reduce compliance risks, and save time. It’s a win-win.”

    About Asure

    Asure (NASDAQ: ASUR) provides cloud-based Human Capital Management (HCM) software solutions that assist organizations of all sizes in streamlining their HCM processes. Asure’s suite of HCM solutions includes HR, payroll, time and attendance, benefits administration, payroll tax management, and talent management. The company’s approach to HR compliance services incorporates AI technology to enhance scalability and efficiency while prioritizing client interactions. For more information, please visit www.asuresoftware.com. 

    Media Contact:
    Patrick McKillop
    Vice President, Investor Relations
    Asure
    patrick.mckillop@asuresoftware.com
    617-335-5058

    The MIL Network –

  • MIL-OSI Europe: Minister Burke, Minister Donohoe and Minister Chambers welcome latest figures showing further employment growth in fourth quarter of 2024

    Source: Government of Ireland – Department of Jobs Enterprise and Innovation

    20th February 2025

    The Q4 2024 Labour Force Survey and latest Monthly Unemployment Release show:

    • Employment continues to grow, with 71,400 jobs created in the year to Q4 2024
    • Total employment now stands at 2.78 million
    • Employment growth has been widespread throughout the regions – Employment outside of Dublin increased by 48,000 in the year to Q4 2024 (+2.5 percent)
    • Full time employment was up 82,900 (+3.9 percent) year on year in the fourth quarter, while part time employment was down 11,600 (-2.0 percent) year on year
    • In January 2025, the seasonally adjusted unemployment rate was 4.0 percent, down from the revised rate of 4.5 in December 2024 and from a rate of 4.5 percent in January 2024

    Labour Force Survey (LFS) results published today by the Central Statistics Office show continued growth in Ireland’s labour market, with 71,400 jobs created in the year to Q4 2024.

    Employment now stands at 2.78 million, an increase of approximately 2.6 percent over Q4 2023. 

    This is reflective of the success of the Government’s focus on driving a labour market recovery in the aftermath of the COVID-19 pandemic, as set out in the Economic Recovery Plan. This commitment to continued employment growth has been renewed in the Government’s White Paper on Enterprise, published in December 2022, which sets out the strategic direction for job creation in the years ahead. 

    Commenting on the figures, the Minister for Enterprise, Tourism and Employment, Peter Burke, said:

    “The Irish labour market has shown outstanding progress in 2024, with key indicators reflecting a robust economy and increasing opportunities for workers across multiple industries. Ireland’s workforce continues to expand, driving the nation’s economic resilience and ensuring a brighter future for job seekers across the regions. It is vital that we continue to build on these successes, ensuring that Ireland remains an attractive and inclusive place for individuals to work, live, and prosper.

    “The new Small Business Unit, to be established in the coming weeks, will be one of the tools utilised to ensure the delivery of targeted support for small businesses and employers. These small businesses continue to be the backbone of our local and national economies.”

    The Minister for Finance, Paschal Donohoe, said:

    “2024 was another strong year for the Irish labour market, with the number of people employed reaching 2.78 million in the final quarter. Despite a slight moderation in annual employment growth in the final quarter, the number of people in work increased by 70,000 last year. As a result, employment has now increased by 400,000 compared to the pre-pandemic period, a truly remarkable achievement.  Encouragingly, the unemployment rate remains low at 4.2 per cent, broadly consistent with full employment.

    “Today’s results point to some modest easing in the tight conditions that have characterised the labour market over the past year. Looking ahead, the economic outlook is increasingly uncertain reflecting the challenging international environment. My Department will publish updated macroeconomic projections as part of its usual spring forecasts that will be published in April.”

    The Minister for Public Expenditure, Jack Chambers, said:

    “Our incredibly strong levels of employment continue to be a central component of our country’s robust economic performance. Increased growth in job rates – both in our cities and in the regions – underscores the confidence employers and investors have in the Irish economy. 

    “This is a direct result of the sensible management of our public finances and the economic policies which have been pursued in recent years. The positive figures released today also speak to the level of State investment to support both our small and medium enterprise sector as well as our education system which is producing high calibre, highly skilled workers across a broad range of areas and sectors throughout our economy. 

    “As an open, trading economy we know we face risks from changes to global trade. The best way to safeguard, protect and further advance our economic success is to enhance our national competitiveness. A key aspect of this is continuing to invest in our people and workers to upskill and diversify our talent pool which will equip us to unlock future economic opportunities and to fully harness the potential of the green and digital transitions.”

    Please also find here a link to the CSO release: Labour Force Survey (LFS) – CSO – Central Statistics Office

    ENDS

    Back to Department News

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    MIL OSI Europe News –

  • MIL-OSI Europe: AFRICA/DR CONGO – Chaplain and nuns prevent Bukavu prison from burning down completely

    Source: Agenzia Fides – MIL OSI

    Kinshasa (Agenzia Fides) – “It is thanks to the chaplain and some nuns that the prison was not completely burned down,” reports a source from the local Church in Bukavu, the capital of the Congolese province of South Kivu, which fell into the hands of the M23 militias on February 16 (see Fides, 17/2/2025).”On Saturday, February 15, as the M23 approached, the city was looted by fleeing FARDC (Armed Forces of the Democratic Republic of Congo) soldiers, pro-government Wazalendo militiamen and local youth,” reports the source, who asked not to be identified. “The prison was also the target of looting, although it is unclear whether it was by outsiders and/or by the inmates themselves, who set fire to the prison before escaping. Only the intervention of the chaplain, assisted by some nuns, prevented the flames from completely destroying the prison. The prison chapel was also looted, but the priest managed to prevent its complete destruction.”Our source reports that “Bukavu is coming back to life. People have taken to the streets to clear away the garbage left by the looting of the past few days. Business has resumed and schools are expected to reopen next Monday. It is not known when or if the banks will reopen, we are awaiting instructions from Kinshasa. It is hoped that they will be able to reopen soon, as they are essential for trade.””We are also awaiting the instructions that the ‘new authorities’ intend to give the population in the next few days,” the source continued.”The city now seems safe. The clashes and looting have stopped.”The M23 militiamen have little presence in Bukavu; most of their troops are on their way to Uvira, which will probably fall today. The regular FARDC soldiers left the city yesterday. Only the “Wazalendo fighters, who in recent days clashed with the FARDC soldiers who asked them to hand over their weapons, remain in Uvira (see Fides, 19/2/2025).””Another direction of march for the M23 is west, towards Urega, where gold has been mined since colonial times. They are still about 80 kilometers from the gold mines, but it is only a matter of time before this area also falls into their hands,” concludes the Fides source.Meanwhile, in North Kivu, the M23 is advancing towards Butembo, another important center of the province after Goma, the capital captured at the end of January. (L.M.) (Agenzia Fides, 20/2/2025)
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    MIL OSI Europe News –

  • MIL-OSI USA: Governor Stein Announces 151 Jobs as Fence Company Selects Columbus County for New HQ and Manufacturing Center

    Source: US State of North Carolina

    Headline: Governor Stein Announces 151 Jobs as Fence Company Selects Columbus County for New HQ and Manufacturing Center

    Governor Stein Announces 151 Jobs as Fence Company Selects Columbus County for New HQ and Manufacturing Center
    lsaito

    Raleigh, NC

    Today, Governor Josh Stein announced that Barrier Fencing Supply Company, a business offering a broad selection of aluminum and vinyl fences to residential and commercial markets, will create 151 jobs in North Carolina.  The company reports it will invest $15 million to establish a headquarters and manufacturing center in Columbus County.

    “North Carolina’s southeast region and Columbus County are a terrific place to do business,” said Governor Josh Stein. “Barrier Fencing’s project brings good jobs and welcome investment there and the company’s decision shows once again that CEOs recognize North Carolina’s advantages as a business location.”

    Barrier Fencing Supply Company is a fencing wholesaler and distributor serving clients across the United States. The business began as a fencing installation company, but quickly moved into supplying its own products to customers. The company’s project in Columbus County will establish a headquarters operation as well as a manufacturing plant for its fencing product lines, enabling the company to bring a large portion of its manufacturing activity back to the United States.

    “Our aim is to generate employment, assist those in need, and to make a meaningful difference in the community,” said Tony Bowling, CEO for Barrier Fencing Supply Company. “Our goals and progress will be achieved thanks to the State of North Carolina and Columbus County. We are thankful and look forward to this partnership.”

    “North Carolina is the number one state for manufacturing in the Southeast, so it’s only natural that Barrier Fencing would choose to expand here,” said Commerce Secretary Lee Lilley. “From our outstanding transportation networks and quality infrastructure to our skilled and available workforce, North Carolina offers everything a manufacturer needs to succeed.”  

    Although wages will vary depending on the position, the average salary for the new jobs will be $44,114.  The current average wage in Columbus County is $44,081.

    A performance-based grant of $275,000 from the One North Carolina Fund will help facilitate Barrier Fencing’s project into Columbus County. The OneNC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment.  All OneNC grants require a matching grant from local governments and any award is contingent upon that condition being met.

    “Making products in the United States strengthens our economy, so it’s great to see Barrier Fencing choose Columbus County for their new manufacturing plant,” said N.C. House Majority Leader Brenden Jones. “We welcome these new jobs and further private-sector investment to our region.”  

    “Many state, regional, and local partners worked hard behind the scenes to support the Barrier Fencing team during its site selection process,” said N.C. Senator Bill Rabon. “I appreciate this collaborative teamwork very much, and our community looks forward to supporting the company as they establish operations in Columbus County.”  

    Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina General Assembly, the North Carolina Community College System, the Commerce Department’s Division of Workforce Solutions, North Carolina’s Southeast, Columbus County, and the Columbus County Economic Development Commission. 

    Feb 20, 2025

    MIL OSI USA News –

  • MIL-OSI: BexBack Introduces Double Deposit Bonus, $50 Welcome Bonus and 100x Leverage for Crypto Traders—No KYC Needed

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Feb. 20, 2025 (GLOBE NEWSWIRE) — Bitcoin hovers below $100,000, analysts suggest the cryptocurrency market is poised for a long-term period of high volatility. For investors, holding spot positions may no longer suffice to generate significant profits. Recognizing this, BexBack Exchange has launched a groundbreaking offer to empower traders: 100% deposit bonus, $50 welcome bonus for new users, and 100x leverage on cryptocurrency trading—all with a No KYC policy.

    Why 100x Leverage Is a Game-Changer?

    With 100x leverage, you can multiply your trading positions with minimal capital, unlocking unparalleled profit potential. Here’s how it works:

    • Assume Bitcoin is priced at $100,000. By opening a long position with 1 BTC and applying 100x leverage, your trade controls a position worth 100 BTC.
    • If the price rises to $105,000, your profit would be (105,000−100,000)×100÷100,000=5BTC—a 500% return.

    Coupled with BexBack’s 100% deposit bonus, you can further amplify your trading power and increase your opportunities to profit.

    How Does the 100% Deposit Bonus Work?

    The deposit bonus is an exclusive feature designed to enhance your trading experience:

    1. Boost Your Margin: The bonus serves as additional margin, allowing you to take larger positions.
    2. Reduce Liquidation Risk: During volatile markets, the bonus acts as a safety buffer to help maintain your positions.
    3. Profits Are Yours: While the bonus itself cannot be withdrawn, the profits earned using it are fully withdrawable.

    BexBack’s Unique Advantages

    1. No KYC Required: Enjoy fast account setup and anonymous trading without lengthy verification.
    2. 100x Leverage: Amplify your trading power and seize market opportunities with one of the highest leverage offerings.
    3. 100% Deposit Bonus: Double your trading capital and increase your potential returns.
    4. $50 Welcome Bonus: New users can claim $50 in BTC after completing their first trade.
    5. Demo Account: A risk-free 10 BTC demo account allows users to practice strategies and familiarize themselves with the platform.
    6. Zero Spreads and No Slippage: All trades are executed at precise market prices, ensuring cost transparency.
    7. Global Support: Available in the US, Canada, Europe, and beyond, with 24/7 multilingual customer assistance.
    8. Affiliate Rewards: Earn up to 50% commission with no caps or time limits through the platform’s affiliate program.

    About BexBack

    BexBack is a premier cryptocurrency derivatives platform headquartered in Singapore, with offices in Hong Kong, the United States, Japan, and the United Kingdom. The platform is trusted by over 500,000 traders worldwide and holds a US MSB (Money Services Business) license, ensuring compliance with regulatory standards.

    BexBack proudly accepts users from the United States, Canada, and Europe, offering a seamless trading experience regardless of location. With innovative trading tools, robust security measures, and user-friendly interfaces, BexBack caters to both beginners and seasoned traders.

    The platform provides:

    • Comprehensive Futures Contracts: Trade BTC, ETH, ADA, SOL, and XRP with up to 100x leverage.
    • Flexible Accessibility: Available on web and mobile for trading anytime, anywhere.
    • Top-Notch Security: Multi-signature wallets, SSL encryption, and cutting-edge data protection.
    • Transparent Fees: No deposit fees, zero spreads, and simple, straightforward pricing.

    By combining innovation, compliance, and user focus, BexBack ensures a superior trading experience tailored to meet the diverse needs of a global audience.

    Don’t Miss Out—Start Trading Today!

    Whether you’re a seasoned trader or a newcomer, BexBack provides the tools and resources to maximize your crypto trading potential. Take advantage of the 100% deposit bonus, $50 welcome bonus, and 100x leverage to capitalize on Bitcoin’s historic price surge.

    Sign up now and start accumulating more BTC today!

    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 column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/28ba5a79-d9c0-411c-a07e-7ba7d0e9eceb
    https://www.globenewswire.com/NewsRoom/AttachmentNg/7520a1f7-3729-453f-a9c7-133ddc805787
    https://www.globenewswire.com/NewsRoom/AttachmentNg/9e2202fc-481a-4027-83a5-05a55f9fe69e
    https://www.globenewswire.com/NewsRoom/AttachmentNg/92270468-2aa7-4b9a-b0ef-8befe201e8ed
    https://www.globenewswire.com/NewsRoom/AttachmentNg/de79609d-bbd7-4706-b6ba-a4611a10d066

    The MIL Network –

  • MIL-OSI: BitLyft Supports Small Banks with Robust Cybersecurity Solutions and Services that Mitigate Risks

    Source: GlobeNewswire (MIL-OSI)

    ST. JOHN’S, Mich., Feb. 20, 2025 (GLOBE NEWSWIRE) — BitLyft, a leading managed detection and response provider (MDR) offering a holistic defense approach, helps small banks protect sensitive customer data, ensure compliance with regulations, and minimize the impact of cyberattacks. BitLyft’s MDR services combine advanced technologies and expert analysis to detect threats in real-time, helping small banks stay ahead of evolving cyber risks.

    “Small banks often have limited budgets and resources, causing them to struggle with sufficient cybersecurity programs,” says Jason Miller, Founder and CEO of BitLyft. “With banks handling sensitive financial data and processing transactions around the clock, robust cybersecurity programs are essential to maintain trust, secure financial transactions, and protect customer data from potential threats.”

    Small banking institutes struggle with the following:

    • Business Email Compromise – Employees are prime targets for phishing, business email compromise, and voice phishing. According to a study from Deloitte, 91% of all cyber attacks begin with a phishing email.
    • Meeting FFIEC Guidelines – FFIEC requires small banks to protect sensitive information through encryption, access controls, and incident response procedures.
    • Monitoring the NIST Cybersecurity Framework requires banks to identify vulnerabilities, improve resilience, stay compliant, and regularly detect and respond to suspicious activities.

    BitLyft’s services for small banks include:

    • Minimizing Business Email Compromise by continuously monitoring email traffic and user behavior for anomalies and enforcing strong email authentication policies.
    • Meeting Compliance Requirements by automating audit logs, security event tracking, and regulatory reporting, which is essential for FFIEC guidelines.
    • Continuous monitoring so that banks comply with regulations like the NIST updated framework that demands regular cyber risk monitoring, ensuring banks have real-time threat detection, automated incident response, and continuous compliance support.

    A mid-sized financial institution faced several cybersecurity challenges, primarily managing its small IT team and maintaining compliance with regulatory standards. The financial institution struggled with cybersecurity threats, including phishing campaigns, account compromises, and user access management issues. In addition to the external threats, their small internal IT team could not effectively manage and monitor their security environment. BitLyft stepped in to provide a tailored solution to improve the bank’s overall security posture, gain better visibility into its network, and conduct proactive testing of its defenses through purple team exercises. Through BitLyft’s tailored solutions, the bank is now well-positioned to handle internal and external threats more efficiently and confidently.

    About BitLyft

    BitLyft enables utilities and corporations to meet regulatory and audit mandates for SOC2 Compliance. The venture’s managed detection and response (MDR) services with an Automated Incident Response (AIR) platform can be implemented cost-effectively and quickly. Prioritizing tech-powered yet high-touch cybersecurity solutions creates a holistic defense, giving clients unwavering confidence; BitLyft staff pledge to prioritize and protect every client. For more information, visit www.bitlyft.com.

    For More Information, Contact:
    Becky Boyd
    MediaFirst
    Cell: (404) 421-8497
    Becky@MediaFirst.Net

    The MIL Network –

  • MIL-OSI United Kingdom: TRA recommendation on Corrosion Resistant Steel accepted

    Source: United Kingdom – Government Statements

    The Government has accepted the TRA’s recommendation to keep an anti-dumping measure on imports of Corrosion Resistant Steel from China to the UK.

    The Secretary of State for Business and Trade has today (Thursday 20 February) accepted the Trade Remedies Authority’s (TRA) recommendation to maintain an anti-dumping measure on imports of Corrosion Resistant Steel (CRS) from China for a further five years.   

    The process of making CRS, which is primarily used in the construction and manufacturing industries, effectively makes the steel rustproof and it is used in the manufacture of such products as domestic appliances, steel vents and fencing. The TRA estimated the UK producer of CRS contributes around £63 million to the UK economy annually.

    The TRA opened a transition review into the measure in February 2023, finding that it was likely that dumping of CRS from China would recur if the anti-dumping measure were no longer applied and that UK industry would likely be injured.

    As part of its Economic Interest Test, the TRA also considered claims by the UK industry that if the measure were no longer applied, this would have a direct impact on its ability to proceed with decarbonisation projects and contribution to various net zero initiatives in the UK.  

    In its final recommendation, the TRA therefore proposed that the level of duties applicable to Chinese exporters remain unchanged, ranging from 17.2% to 27.9%, until at least 9 February 2028.  

    The TRA found that following the imposition of the European Union’s measure in 2018, imports into the UK from China fell by 96% from 363,000 metric tonnes in 2016, to 16,000 metric tonnes in 2018.  

    Background information

    • The TRA is the UK body that investigates whether trade remedy measures are needed to counter unfair import practices and unforeseen surges of imports.  
    • Trade remedy investigations were carried out by the EU Commission on the UK’s behalf until the UK left the EU. A number of EU trade remedy measures of interest to UK producers were carried across into UK law when the UK left the EU and the TRA is currently reviewing each one to check if it is suitable for UK needs. View further information on our current transition reviews.  
    • Anti-dumping duties allow a country or union to take action against goods which are being sold at less than their normal value – this is defined as the price for ‘like goods’ sold in the exporter’s home market.  
    • These measures are one of the three types of trade remedy measures – along with countervailing measures against countervailable subsidies and safeguard measures which address sudden, unforeseen floods of imports – that are allowed under World Trade Organisation (WTO) rules.  
    • Corrosion resistant steel: the goods reviewed were flat rolled, iron/alloy/non alloy steel, aluminium killed (meaning the steel has been deoxidized with aluminium, thus eliminating any reaction between carbon and oxygen during solidification), and then plated or coated by hot dip galvanisation with zinc and/or aluminium and/or magnesium.

    Updates to this page

    Published 20 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Attorney General Bonta: Dismantling CFPB Would Cause Irreparable Harm to California Consumers

    Source: US State of California

    Gutting of CFPB creates a gap in regulation greater than before the 2008 financial crisis

    OAKLAND — California Attorney General Rob Bonta today joined a coalition of 23 attorneys general in submitting an amicus brief in Mayor and City Council of Baltimore v. Consumer Financial Protection Bureau, a lawsuit challenging the Trump Administration’s efforts to dismantle the Consumer Financial Protection Bureau (CFPB). In the brief, the attorneys general argue that the shuttering of the CFPB would cause catastrophic harm to consumer protections nationwide, leaving state agencies with the sole responsibility to protect consumers. 

    “The CFPB was created to protect consumers from being taken advantage of by corporations. As the backbone of federal consumer financial protections, the CFPB is a force multiplier for California’s consumer protection efforts, working to protect consumers from fraud, abuse, and unfair business practices and returning over $20 billion to Americans since its creation,” said Attorney General Bonta. “The Trump Administration’s takeover of the CFPB is an effort to destroy the agency responsible for overseeing the mortgage markets, stopping predatory debt collectors, and preventing American families from being exploited by big banks and payday lenders. From sharing complaints and trend data, to providing training, and partnering on joint investigations and litigations, the loss of CFPB’s partnership has devastating and deep implications for California and households across the nation.” 

    After examining the fallout of the 2008 financial crisis, Congress concluded the crisis resulted in part from the failure of federal banking and other regulators to address significant consumer protection issues detrimental to both consumers and the safety and soundness of the banking system. In direct response to these events, Congress established the CFPB and tasked it with enforcing numerous federal consumer protection statutes and enacting regulations to further these efforts. For over a decade, the CFPB has served as an invaluable partner to state attorneys general and state banking regulators, both by working to protect consumers against fraudulent and abusive practices and by advancing a fair and level playing field in consumer financial markets by issuing regulations under federal law. 

    In the last month, the Trump Administration has taken a series of actions intended to debilitate the CFPB, including issuing a suspension of work across the agency, terminating probationary employees, and announcing a decision not to draw additional funding from the Federal Reserve. These actions appear to be part of a unilateral effort to permanently shut down the agency, including programs and operations mandated by federal law. 

    In the brief, filed in the U.S. District Court for the District of Maryland, the attorneys general argue the haphazard and chaotic shuttering of the CFPB: 

    • Has caused and will continue to cause irreparable harm to the wellbeing of consumers and the states’ own enforcement efforts. 
    • Leaves no oversight over large national banks. 
    • Rapidly and substantially increases the burden on state agencies to protect consumers. 

    For example, one of the most significant losses associated with the CFPB’s shuttering is the loss of their consumer-complaint system, which fields approximately 25,000 consumer complaints about financial products and services each week. This system allows the CFPB to identify and prioritize complaints where a consumer is at risk of imminent home foreclosure and then refer consumers to housing counselors to help them avoid losing their home.

    Additionally, the CFPB is the sole federal regulator of nonbank mortgage lenders, and the sole federal entity that is statutorily authorized to supervise and bring enforcement actions against national banks in connection with “abusive” practices. Since 2022, California has referred nearly 4,000 consumers to the CFPB in circumstances where the Bureau is best positioned to provide the assistance needed. 

    The CFPB’s sudden gutting also means that there will be essentially no oversight of very large banks, such as JPMorgan and Wells Fargo, for their compliance with consumer financial-protection laws. Very large financial institutions that compete with state-chartered banks will have the freedom to loosen their regulatory compliance and profit accordingly — to the detriment of consumers and competing banks and credit unions — as was seen in the years leading up to the 2008 financial crisis. 

    In filing the brief, Attorney General Bonta joins the attorneys general of New York, New Jersey, the District of Columbia, Arizona, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Mexico, North Carolina, Oregon, Rhode Island, Vermont, Washington, and Wisconsin.

    A copy of the amicus brief can be found here. 

    MIL OSI USA News –

  • MIL-OSI: Leveraging Artificial Intelligence (AI) for Drone Operations Market Leading to Multi-Billion Dollar Revenue Opportunity

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., Feb. 20, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – A report from Verified Market Research said that the AI In Drone Market size is projected to reach USD 206.9 Billion by 2031, growing at a CAGR of 32.4% during the forecast period to 2031. The report said: “Developments in Technology: One of the main factors propelling the artificial intelligence (AI) market for drones is the quick development of AI technologies. Drone capabilities are improved by innovations like computer vision, machine learning, and real-time data processing, which enable advanced decision-making and autonomous navigation. These developments make it possible for drones to more effectively carry out difficult jobs like infrastructure inspection, precision farming, and search and rescue missions. Furthermore, a variety of businesses can incorporate drones into their operations as AI software becomes more widely available and reasonably priced, expanding the market. Demand in the industry is driven by the ongoing improvement of AI algorithms, which guarantee that drones can do ever-more-difficult tasks. Industry Acceptance: One of the main factors driving the market is the growing use of drones in a variety of sectors, such as construction, logistics, surveillance, and agriculture. Businesses are increasingly incorporating AI-enabled drones into their operations as they realize the efficiency, cost savings, and safety enhancements these technologies provide. AI drones improve crop monitoring and resource management in agriculture and expedite delivery procedures in logistics. Demand is further fueled by this cross-industry applicability, as businesses look to automation and improved data insights to gain a competitive edge. Drones’ increasing acceptance as vital instruments in contemporary operations propels market expansion and encourages innovation in the AI space. Active Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), Rigetti Computing, Inc. (NASDAQ: RGTI), AeroVironment, Inc. (NASDAQ: AVAV), Unusual Machines (NYSE: UMAC), Safe Pro Group Inc. (NASDAQ: SPAI).

    Verified Market Research continued: “Cost Cutting: The market is expanding due to the declining costs of drone technology and AI integration. Drones and related AI software are becoming more affordable as manufacturers develop and competition rises, opening up these technologies to a wider variety of consumers. Drone adoption is made possible by lower costs, which makes it easier for small and medium-sized businesses to enter the market. Cost savings are also facilitated by the adoption of open-source software and improved manufacturing process efficiency. The market is seeing faster adoption rates as affordability rises, which prompts more investment in AI capabilities that boost drone applications and functions. The government, commercial, and military sectors are the main end-users that divide the AI In Drone Market. Recognizing that different businesses have diverse needs and use drones for different purposes, this division highlights the uses of AI-powered drones across a range of fields. The government sector uses AI to improve data analysis, automate repetitive jobs, and increase decision-making in areas including disaster response, surveillance, law enforcement, and agricultural monitoring. Drones can now swiftly and effectively process enormous volumes of data thanks to artificial intelligence (AI), which is especially useful for government tasks requiring real-time information, such as monitoring emergencies or evaluating and handling public safety issues. The commercial AI drone market sector encompasses a wide range of applications, such as media, construction, logistics, and agriculture.”

    ZenaTech (NASDAQ:ZENA) Quantum Computing “Sky Traffic” Project Demonstrates High Accuracy in Initial Testing Leading to Expansion of Team and AI Drone Applications for Commercial and Defense – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a technology company specializing in AI (Artificial Intelligence) drones, Drone as a Service (DaaS), enterprise SaaS and Quantum Computing solutions, announces positive results from initial testing and an update on its Quantum Computing Sky Traffic project. An initial test using the Company’s AI algorithms and quantum computing to predict weather has resulted in a high level of accuracy for the parameters tested including actual temperatures versus predicted temperatures in the test which used 2016 data.

    Due in part to these encouraging results, ZenaTech is now growing its internal team over the next two months. As part of the ramp up, the Company is adding additional quantum, AI and hardware engineers, and optimization specialists and is engaged in recruiting staff from physics facilities at international universities, including researchers, instructors, and Ph.D. candidates.

    “The Sky Traffic project leverages AI and quantum computing to process vast data streams to improve the accuracy and speed of weather forecasting that can also apply to the innovation of many other commercial and defense applications utilizing drones. Our hiring strategy focuses on assembling a multidisciplinary team of quantum and AI specialists, and hardware and aerospace engineers to help us revolutionize autonomous drones. By combining quantum algorithms with advanced machine learning, we can optimize navigation, decision-making, and real-time data processing for next-generation aerial intelligence,” said CEO Shaun Passley, Ph.D.

    ZenaTech launched the Sky Traffic project in November 2024, which will utilize its AI drones, quantum computing, and specialized quantum and AI teams to develop and test advanced applications for traffic management, weather forecasting, wildfire management and defense applications using large datasets, Amazon Web Services, and computing devices and platforms.

    AI Drones are used in weather forecasting to collect real-time atmospheric data from hard-to-reach areas, such as storm systems or remote regions, providing valuable input for weather models. Quantum computers can then analyze this vast and complex data much faster and more accurately, improving weather predictions and enhancing the ability to forecast extreme events like hurricanes, tornadoes, or wildfires.

    AI and quantum computing can work together to make defense drones smarter, faster, and more efficient using a single drone or a swarm of multiple drones. AI helps drones analyze data, recognize objects, and make decisions on their own, while quantum computing can process massive amounts of information much faster than regular computers. For example, a defense drone using AI can detect enemy movement, but adding quantum computing allows it to analyze complex battlefield data instantly and find the best flight path or strategy in real time. This combination improves reaction speed, mission accuracy, and overall drone performance, making them more effective for surveillance, reconnaissance, and security operations.

    Quantum computing is an emergent field of cutting-edge computer science harnessing the unique qualities of quantum mechanics to solve problems beyond the ability of even the most powerful classical computers of today, to process massively complicated mathematical problems and data at orders of magnitude faster speeds.

    The ZenaDrone 1000 is a multifunction autonomous drone, in a VTOL (Vertical Takeoff and Landing) quadcopter design with eight rotors; it is considered a medium-sized drone measuring 12X7 feet in size. It is designed for stable flight, maneuverability, heavy lift capabilities up to 40 kilos, incorporating innovative software technology, AI, sensors, and purpose-built attachments, along with compact and rugged hardware engineered for industrial and defense use for a variety of inspection, surveillance or tracking applications. Continued… Read this full release by visiting: https://www.financialnewsmedia.com/news-zena/

    Other recent developments in the markets include:

    QphoX B.V., a Dutch quantum technology startup that is developing leading frequency conversion systems for quantum applications, Rigetti Computing, Inc. (NASDAQ: RGTI), a pioneer in full-stack quantum-classical computing, and Qblox, a leading innovator in quantum control stack development, recently announced that their joint research demonstrating the ability to readout superconducting qubits with an optical transducer was published in Nature Physics.

    Quantum computing has the potential to drive transformative breakthroughs in fields such as advanced material design, artificial intelligence, and drug discovery. Of the quantum computing modalities, superconducting qubits are a leading platform towards realizing a practical quantum computer given their fast gate speeds and ability to leverage existing semiconductor industry manufacturing techniques. However, fault-tolerant quantum computing will likely require 10,000 to a million physical qubits. The sheer amount of wiring, amplifiers and microwave components required to operate such large numbers of qubits far exceeds the capacity of modern-day dilution refrigerators, a core component of a superconducting quantum computing system, in terms of both space and passive heat load.

    AeroVironment, Inc. (NASDAQ: AVAV) recently announced the launch of the JUMP® 20-X, a next-generation, modular Group 3 uncrewed aircraft system (UAS) designed to meet the dynamic demands of modern warfare. Setting a new benchmark for autonomous maritime operations, the JUMP 20-X delivers unrivaled versatility, efficiency, and precision in contested and complex environments.

    Unveiled at the 2025 International Defence Exhibition & Conference (IDEX), the JUMP 20-X is a vertical takeoff and landing (VTOL) medium uncrewed aircraft system (MUAS) engineered to revolutionize shipboard UAS operations. With an advanced heavy-fuel engine capable of running on multiple fuel types, JUMP 20-X enhances operational flexibility, simplifies refueling logistics, and ensures mission adaptability across diverse maritime and expeditionary environments.

    Unusual Machines (NYSE:UMAC) recently announced that its Fat Shark Aura FPV Camera has been added to the U.S. Defense Department’s Defense Innovation Unit’s (DIU) Blue UAS Framework. It is the only camera on the Blue UAS list purpose-built for first person view (“FPV”) applications, providing a high-performance, NDAA-compliant option for defense and government users.

    This approval marks another step forward in Unusual Machines’ mission to supply NDAA-compliant FPV components for both commercial and defense applications. The Fat Shark Aura FPV Camera joins the Rotor Riot Brave F7 Flight Controller and Brave 55A ESC, both of which have already been approved under the Blue UAS Framework.

    Safe Pro Group Inc. (NASDAQ: SPAI) recently announced that its Safe Pro AI subsidiary reached its latest milestone having processed over 1,000,000 real-world images and 20,000 explosive threat detections in Ukraine utilizing its patented AI-powered small object threat detection and drone image analysis and mapping technology.

    Sourced from real-world aerial imagery collected in Ukraine by organizations utilizing commercially available drones over the past two years, SafePro’s latest generation of small object detection models include one of the largest and widest arrays of labeled imagery of landmines, unexploded ordnance (UXO) and explosive remnants of war (ERW) in existence today. Supported by the hyper scale of the Amazon Web Services (AWS) cloud, this robust dataset enables the patented SpotlightAI™ ecosystem to rapidly detect over 150 types of surface-level explosive hazards, enabling government and humanitarian organizations to quickly assess threats on the ground with sub-centimeter precision. The Company intends to utilize its newly enhanced models to power new threat detection solutions designed for expanded domestic and international applications in defense, public safety and commercial markets.

    About FN Media Group:

    At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases

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    DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated fifty four hundred dollars for news coverage of the current press releases issued by ZenaTech, Inc. by the Company. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

    This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

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    SOURCE: FN Media Group

    The MIL Network –

  • MIL-OSI Economics: Refresh & Re-energize with Spring Savings on Samsung AI Tech

    Source: Samsung

    Warmer weather is right around the corner, but the transition from winter to spring offers more than green grass and chirping birds. It’s a time to refresh your space and re-energize your routines. To kick off the springtime celebrations, save up to 40%1 on Samsung tech that seamlessly connects during the Discover Samsung Spring Sale.
    From March 3 – 9, get ready to shop weeklong offers, deals of the day and big savings on bundles to power your passions.
    We know that cost savings and convenience are top of mind when it comes to AI in your appliances,2 and want to help turn your dream smart home into a reality. Whether you’re trying to find more “me” time, be more productive or save more, Samsung’s AI-powered tech is designed to help transform your everyday life into a better tomorrow.
    Wondering where to begin? Download the Samsung Shop App to unlock Early Access to exclusive offers beginning on March 1.
    Get a head start on your wish list with a sneak peek at upcoming offers below, and explore some of our favorite ways to make the most of your AI tech.
    To help cut down on costs, use power-saving features for your home appliances like AI Energy Mode. Located in the SmartThings App,4 AI Energy Mode helps reduce your energy consumption through real-time monitoring and AI-based energy-saving adjustments. For example, intelligently adjusting your refrigerator’s compressor speed, defrost cycles and temperature settings to reduce energy use during operation.
    Weeklong Deal: Bespoke AI Laundry Combo All-in-One: Save $1100 (promo price: starting at $2199)
    Deal of the Day 3/4: Bespoke AutoRelease Smart 42dBA Dishwasher with StormWash + and Smart Dry: Save $350 (promo price: starting at $549)

    To workout smarter and rest easier, let your tech take the lead on your wellness journey. Keep better track of your workouts and get deeper health data when you pair your Galaxy Ring and Watch to the Samsung Health app, including Heart Rate Tracking5 that filters out your body’s movements for a more accurate reading. And after a long day, recover with advanced sleep insights from your Galaxy Ring, including Energy Score and Wellness Tips powered by Galaxy AI.6
    Weeklong Deal: Galaxy Ring: Save $250 with eligible trade-in10 (promo price: starting at $149.99)
    Weeklong Deal: Galaxy Watch7: Save $200 with eligible trade-in10 (promo price: starting at $99.99)
    To eat healthier without the hassle, explore convenient Samsung Home AI features. AI Vision Inside7 helps you keep track of many items that go in and out of your fridge and automatically updates your food inventory list on the SmartThings app. When you’re ready to cook, get personalized recipe recommendations, search for follow-along video recipes and even access some of your favorite apps to multitask from the 7” AI Home Display on your Bespoke Range.
    Weeklong Deal: Bespoke 4-Door Flex Refrigerator (29 cu. ft.) with AI Family Hub + and AI Vision Inside : Save $1800 (promo price: starting at $3199)
    Deal of the Day 3/6: Bespoke Smart Slide-in Induction Range with AI Home & Smart Oven Camera: Save $1100 (promo price: starting at $2299)

    To learn faster, use Galaxy AI8 to transform your tech into a productivity powerhouse. Use Call Transcript9 on your Galaxy S25 to easily to remember important details and tasks for your to-do list. Call Transcript records, transcribes and summarizes your calls to generate automated notes to help keep you on track. And with Note Assist on your Galaxy Tab, you can record a lecture or meeting audio and let Galaxy AI transcribe, organize and even summarize your notes for you.
    Deal of the Day 3/3: Galaxy S25 Ultra: Save up to $1120 with eligible trade-in credit10 (promo price: starting at $1099.99)
    Weeklong Deal: Galaxy Tab S10 Ultra: Save up to $1000. Get up to $800 instant trade-in credit or up to $400 instant trade-in credit with any tablet trade-in. Or, get up to $180 off without trade-in, plus Galaxy Buds2 on us (promo price: starting at 1199.99
    To elevate your entertainment, take advantage of Samsung AI TV and audio innovations. Keep up with all the action like never before with AI Motion Enhancer Pro tracking hard-to-see objects. And with 8K AI Upscaling Pro11, sit back, relax and witness the power of your favorite classics being upscaled into stunning 8K resolution. For an even more cinematic experience, pair your TV with a Samsung soundbar designed with epic AI audio features and connectivity options.
    Deal of the Day 3/5: 85″ Class Samsung Neo QLED 8K (QN900D): Save $2700 (promo price: $5299.99)
    Weeklong Deal: Q-series 3.1.2 ch. Dolby ATMOS Soundbar w/ Q-Symphony: Save $270 (promo price: $329.99)
    We can’t wait to see how Samsung AI powers your everyday, everywhere. Be sure to check back for more ways to shop and save during the Discover Samsung Spring Sale.
    For information on the latest offers, visit Samsung.com.

    1 Eligible products, as well as terms and conditions, will be available on Samsung.com when the promotion begins on March 3.
    2 Source: December 2024 among 1,004 U.S. adults 18 to 65 conducted by IPSOS on behalf of Samsung.
    3 6/15/24 – 12/31/24, Promotional discount applies while supplies last when making your first qualifying purchase in the Shop Samsung App ($500 first order minimum). This offer is available to direct consumers only, Business customer accounts are not eligible. Void where prohibited or restricted by law. Samsung reserves the right to modify or discontinue offers at any time by posting notice on the app or website.
    4 SmartThings app available on Android and iOS devices. Wi-Fi connection and Samsung account required.
    5 The heart rate software functions are not intended for use in the diagnosis of disease or other conditions, N in the cure, mitigation, treatment or prevention of disease.
    6 Galaxy AI features on wearables track data and require compatible Samsung Galaxy AI phone, Samsung Health app and Samsung account.
    7 AI Vision Inside can recognize and automatically label 33 unobscured fresh food items such as select fruits and vegetables; other items may be manually labeled. Results vary by manner of placement. Wi-Fi connection and Samsung account required. Visit Samsung.com for more on AI Vision Inside and compatibility.
    8 Galaxy AI features will be provided for free until the end of 2025 on supported Samsung Galaxy devices.
    9 You must comply with local laws related to recording calls. Recordings and transcripts are stored on your device. Wi-Fi connection and Samsung account required.
    10 For a limited time only, on Samsung.com/Shop Samsung App, or purchase a new qualifying Galaxy device (“Qualifying Purchase”), send in your qualifying trade-in device to Samsung through the Samsung Trade-In Program, and if Samsung determines your trade-in device meets all eligibility requirements, you will receive a trade-in credit specific to your qualifying trade-in device to apply toward your Qualifying Purchase. Device models that currently qualify for trade-in and trade-in credit amounts associated with those models are available on Samsung.com and the Shop Samsung App; eligible models and amounts may change at Samsung’s sole discretion. To be eligible for trade-in, your qualifying device must meet all Trade-In Program eligibility requirements, which include, but are not limited to, that the device powers on, holds a charge, and does not power off unexpectedly; has a functioning display; has no breaks or cracks in the screen (unless a cracked screen offer applies); has no breaks or cracks in the case; has no liquid damage (whether visible or not); has no other defects that go beyond normal wear and tear; is not on a black list; has a verified FCC ID; has been reset to factory settings; has all personal information removed; has all software locks disabled; and is owned by you (leased devices are not eligible). Anticipated trade-in value will be applied as a credit at time of purchase, but, if you do not send in your trade-in device within 15 days of receipt of your Qualifying Purchase, you will be charged back for the trade-in credit applied to your purchase, or if you send in your trade-in device within 15 days of receipt of your Qualifying Purchase but Samsung determines your device does not meet all eligibility requirements, you will be charged back for the trade-in credit applied to your purchase minus $25. Participation in this program does not excuse you from contracts with your carrier or retailer (or any related payments or fees) for the device that was traded in. Limit 1 trade-in per Qualifying Purchase. Samsung reserves the right to modify or discontinue this offer at any time. The Trade-In Program cannot be combined with any other Samsung, carrier or retailer promotions, discounts, or offers unless specifically provided for in the terms and conditions of such offers. Additional terms, including terms that govern the resolution of disputes, apply. Visit Samsung.com for more.
    11 Uses AI-based formulas to upscale content to 8K

    MIL OSI Economics –

  • MIL-OSI: NANO Nuclear Energy to Present Keynote Speech and Announced as the Diamond Sponsor of the SMR Canada Summit 2025

    Source: GlobeNewswire (MIL-OSI)

    Small Modular Reactor (SMR) Canada Summit 2025 will be held in Strathcona County, Alberta on March 4-5, 2025

    New York, N.Y., Feb. 20, 2025 (GLOBE NEWSWIRE) — NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading advanced nuclear energy and technology company focused on developing clean energy solutions, today announced that it is the Diamond Sponsor of the upcoming SMR Canada Summit 2025, to be held in Strathcona County, Alberta on March 4-5, 2025. Chief Executive Officer and Head of Reactor Development James Walker will lead a keynote presentation titled “Finding Opportunities in the Resurgent Nuclear Energy Industry” on Tuesday, March 4th, at 9:30am.

    SMR Canada Summit serves as a vital platform for educating and informing local entrepreneurs, government officials, and the broader community about the potential of Alberta, Saskatchewan and British Columbia as pioneering sites for nuclear development in Western Canada. The Summit features in-depth discussions on a variety of critical topics, including site development, safety protocols, transportation logistics, cutting-edge technology, community engagement strategies, economic impacts, and workforce development, bringing together all the relevant stakeholders including technology suppliers, EPC’s, governments, regulators, utilities, First Nations, NGO’s and end users.

    By bringing together diverse stakeholders from across Canada, the event not only provides valuable insights but also fosters a well-informed and engaged community prepared to participate in and support the responsible growth of nuclear energy in the region.

    “The Canadian government has shown considerable support for advanced nuclear technologies as the country strives to achieve 100% net-zero carbon electricity by 2050,” said Jay Yu, Founder and Chairman of NANO Nuclear Energy. “This summit reflects the nation’s commitment to fostering innovation and the eventual deployment of small modular and micro reactor energy systems. We’re pleased to play a role in driving these efforts forward with our high technology readiness level KRONOS MMR™ reactor energy system and the continuation of proactive discussions with the Canadian National Laboratory and the Canadian Nuclear Safety Commission.”

    The recently acquired KRONOS MMR™ energy system was the first small modular reactor to enter the Canadian Nuclear Safety Commission’s (CNSC) formal licensing review. Following the close of this acquisition, NANO Nuclear has focused on reestablishing and advancing discussions with the CNSC to ensure compliance with all relevant regulations and to move the energy system into the next phase of review.

    Figure 1 – NANO Nuclear Energy Inc. Announced as the Diamond Sponsor of the SMR Canada Summit 2025, to be held in Strathcona County, Alberta on March 4-5, 2025.

    “This summit will play a pivotal role in fostering a robust nuclear energy industry nationwide and I’m thrilled to engage with Canada’s leading professionals,” said James Walker, Chief Executive Officer and Head of Reactor Development of NANO Nuclear Energy. “NANO Nuclear aims to establish itself as the premiere small modular and micro reactor innovator in Canada. Our acquisition of KRONOS MMR™ energy system positions us to take an active role in the country’s expanding energy sector, paving the way for high-level discussions with Canadian regulators and laboratories integral to meeting Canada’s ambitious clean-energy goals. I look forward to delivering a keynote address to some of the most knowledgeable and dedicated experts in Canada’s nuclear sector and collaborating with them to establish the nation as a leader in advanced energy technologies.”

    About NANO Nuclear Energy, Inc.

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

    Led by a world-class nuclear engineering team, NANO Nuclear’s reactor products in development include “ZEUS”, a solid core battery reactor, and “ODIN”, a low-pressure coolant reactor, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors. NANO Nuclear is also developing patented stationary KRONOS MMR™ Energy System and space focused, portable LOKI MMR™.

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

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

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

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

    For further NANO Nuclear information, please contact:

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

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    Cautionary Note Regarding Forward Looking Statements

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

    Attachment

    The MIL Network –

  • MIL-OSI: Fueled by Micron Mobile Solutions, Samsung Galaxy S25 Series Raises the Bar for AI Experiences

    Source: GlobeNewswire (MIL-OSI)

    BOISE, Idaho, Feb. 20, 2025 (GLOBE NEWSWIRE) — Micron Technology, Inc. (Nasdaq: MU) announced today that its industry-leading low-power double data rate 5X (LPDDR5X) memory and universal flash storage (UFS) 4.0 are featured in select devices in the Samsung Galaxy S25 series, which introduces multimodal AI agents to pioneer intuitive and context-aware mobile AI experiences. Additionally, Micron is now shipping its most power-efficient LPDDR5X memory ever to the market for the first time, offering users more than 10% power improvement.1 With its One UI 7 update, the Galaxy S25 series is a true AI companion that provides personalized experiences tailored to users’ unique needs, powered by multimodal AI agents that seamlessly interpret text, speech, images and videos.

    As smartphone AI capabilities grow in sophistication, processing is increasingly executed directly on edge devices rather than relying only on the cloud. This demands more high-performance memory and storage than ever to accommodate AI models and datasets on the devices. Power efficiency is also critical, with over 70% of smartphone users stating that battery life is the most important feature they consider when purchasing a phone.

    “We’ve optimized Micron’s mobile portfolio to deliver the power efficiency, high performance and large capacity needed to propel the next wave of AI innovation in flagship smartphones,” said Mark Montierth, corporate vice president and general manager of Micron’s Mobile Business Unit. “Samsung is setting a new standard for AI phones, enabling them to be true AI companions with context-aware and personalized mobile experiences powered by Micron’s leadership memory and storage.”

    Micron’s high-bandwidth LPDDR5X memory and advanced UFS 4.0 storage are embedded into select Galaxy S25 Ultra, Galaxy S25+ and Galaxy S25 devices, accelerating real-time AI processing at consumers’ fingertips. Micron’s UFS 4.0 storage is available in high capacities, allowing data to be stored locally instead of the cloud, providing greater security for personal data. Additionally, the power efficiency gains of Micron’s latest LPDDR5X are attributed to its advanced 1β (1-beta) process technology and design optimizations, enabling it to operate at voltages lower than the industry standard — resulting in longer battery life.

    “The Galaxy S25 series represents the next evolution of the mobile AI era — one that brings a more natural, context-aware and personalized experience to users, redefining how they interact with their devices and by extension, the world around them,” said Inkang Song, vice president and head of the technology strategy team at Samsung. “Through our close collaboration, Micron’s mobile solutions provide the foundation that powers these transformative AI capabilities, driving innovation and shaping the future of mobile AI technology.”

    This announcement follows Micron’s LPDDR5X and UFS 4.0 validation last fall for the Snapdragon® 8 Elite Mobile Platform, a chipset designed to accelerate AI-capable smartphones, in addition to complementing these solutions’ inclusion last year in Samsung’s AI-centric Galaxy S24 series. Together, these announcements illustrate Micron’s close collaboration across the mobile ecosystem, from chipset vendors to smartphone manufacturers, to enable a new generation of flagship smartphones delivering on-device AI.

    About Micron Technology, Inc.
    We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence (AI) and compute-intensive applications
    that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.

    © 2025 Micron Technology, Inc. All rights reserved. Information, products, and/or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners.

    Snapdragon is a trademark or registered trademark of Qualcomm Incorporated. Snapdragon is a product of Qualcomm Technologies, Inc. and/or its subsidiaries. 

    1 When compared to JEDEC-standard operation

    The MIL Network –

  • MIL-OSI: Lucidworks Launches AI-Powered Commerce Studio and Analytics Studio, Available in New Fast-Start Packages

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, Feb. 20, 2025 (GLOBE NEWSWIRE) — Lucidworks, the leading provider of AI search and discovery solutions, today announced significant advancements in merchandising and analytics with the twin launches of Commerce Studio™ and Analytics Studio™. Bringing predictive AI and real-time insights to enterprise search and discovery, both platforms will be available as fast-start packages for B2B and B2C enterprises.

    Powered by first-of-its-kind AI, Commerce Studio’s Intelligent Merchandising Assistant offers real-time recommendations based on anonymized customer search and behavior data. Merchandisers can then choose whether to implement recommended changes with the click of a button, maintaining complete human control at every step. Commerce Studio boosts Revenue Per Visitor (RPV) by 15% or more while saving an estimated 1,000 hours of merchandiser time annually.

    Analytics Studio serves as a command center for search and discovery success, capturing the complete customer journey and transforming complex search data into actionable intelligence. Analytics Studio enables businesses to optimize rankings, personalize experiences, and identify new opportunities in real time.

    “Traditional merchandising does not work at scale,” said Mike Sinoway, CEO of Lucidworks. “Our new AI-powered merchandising is automated, more efficient, and more accurate, yet it offers full transparency and complete override controls. It’s just better in every way.”

    “Half of the U.S.’s top retailers – brands like Crate & Barrel and Lenovo – already turn to us for their search solutions, and we hear about their successes every day,” explained Keri Rich, VP of Product for Lucidworks. “In fact, Forrester recently found that our tools improve conversions and substantially improve profit. Now, with our studios’ AI-driven insights and touch-of-a-button controls, we aim to propel those profits even higher.”

    Both studios are available within Lucidworks’ new B2B and B2C Core Packages, which also include:

    • Neural Hybrid Search™, combining semantic understanding with keyword precision
    • Pre-configured templates and tools for immediate deployment
    • Comprehensive data integration and enrichment capabilities
    • Expert deployment and support

    Building on the recent launch of its AI orchestration engine, these new offerings illustrate Lucidworks’ strategic vision for intelligent enterprise search and discovery. Lucidworks will expand its offering later this year with Knowledge Management packages, further enhancing its enterprise search and discovery capabilities. For more information about Commerce Studio™, Analytics Studio™, and Lucidworks’ new package offerings, visit lucidworks.com.

    About Lucidworks
    Lucidworks clients are more than 2.5x more likely to successfully deploy generative AI initiatives than their peers. The world’s largest brands including Crate & Barrel, Lenovo, and Red Hat rely on Lucidworks’ suite of products to power commerce, customer service, and workplace applications that delight customers and empower employees. Learn more at Lucidworks.com.

    The MIL Network –

  • MIL-OSI Economics: Economy Enters 2025 on Strong Footing as Markets Digest Policy Uncertainty

    Source: Fannie Mae

    WASHINGTON, DC – Incoming gross domestic product (GDP), labor market, and inflation data point to an economy that entered 2025 with strong momentum, according to the February 2025 commentary from the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group. While the ESR Group’s GDP outlook is unchanged at 2.2 percent Q4/Q4 in 2025, it revised upward its expectations for the Consumer Price Index, which is now forecast to end 2025 at 2.8 percent on a year-over-year basis (2.5 percent previously), primarily due to recently higher-than-expected inflation readings. Further, the ESR Group incorporated the recently implemented 10-percent additional tariff on imports from China into its February forecast; it expects the tariffs will have a small negative impact on growth and put slight upward pressure on inflation. However, the ESR Group notes that current risks to the outlook are higher than normal due to uncertainty around trade policy, including additional tariff proposals.

    The ESR Group now expects mortgage rates to end 2025 and 2026 at 6.6 and 6.5 percent, respectively, upward revisions from its prior outlook. The ESR Group notes there are plausible scenarios for both upward and downward movement in mortgage rates due to trade policies, but its expectations for mortgage rate volatility this year remains intact as markets react to trade policy announcements, incoming economic data, and other fiscal policy changes. Additionally, the ESR Group made modest upward revisions to its existing home sales outlook for 2025 due to a stronger-than-expected December sales pace and resilient purchase applications data, but it notes that the level of existing sales is still expected to be 22 percent below the pace seen in 2019.

    “Economic growth was strong to start the year as fourth quarter personal consumption data came in above our expectations,” said Kim Betancourt, Fannie Mae Vice President of Multifamily Economics and Strategic Research. “Going forward, we expect the economy to decelerate slightly as consumer spending slows to a level more consistent with its historical relationship to income. However, ongoing uncertainty around trade policy adds risk to our GDP and inflation outlooks, which may have implications for mortgage rates, although the direction – up or down – would depend on a number of factors. Higher mortgage rates would exacerbate the existing ‘lock-in effect’ and worsen affordability, which may then weigh on home sales and mortgage originations activity. Of course, if mortgage rates move lower, we’d likely see an improvement in affordability and a corresponding pickup in housing activity.”

    Visit the Economic and Strategic Research site at fanniemae.com to read the full February 2025 Economic Outlook, including the Economic Developments Commentary, Economic Forecast, and Housing Forecast. To receive email updates with other housing market research from Fannie Mae’s Economic and Strategic Research Group, please click here.

    Opinions, analyses, estimates, forecasts, beliefs, and other views of Fannie Mae’s Economic and Strategic Research (ESR) Group included in these materials should not be construed as indicating Fannie Mae’s business prospects or expected results, are based on assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts, beliefs, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current, or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, beliefs, and other views published by the ESR Group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.

    About the ESR Group
    Fannie Mae’s Economic and Strategic Research Group, led by Chief Economist Mark Palim, studies current data, analyzes historical and emerging trends, and conducts surveys of consumer and mortgage lender groups to provide forecasts and analyses on the economy, housing, and mortgage markets.

    MIL OSI Economics –