NewzIntel.com

Category: Commerce

  • MIL-OSI Security: Texas Business Owner Sentenced for COVID-19 Relief Fraud

    Source: United States Attorneys General

    A Texas woman was sentenced today to three years and five months in prison for her participation in a scheme to file fraudulent applications for loans under the Paycheck Protection Program (PPP) that the Small Business Administration (SBA) guaranteed under the Coronavirus Aid, Relief, and Economic Security Act.

    According to court documents, between around May 2020, and March 2021, Shantelle Hawkins, 43, of DeSoto, conspired to submit 17 fraudulent PPP loan applications on behalf of companies she or her relatives owned or controlled. The applications contained false statements about payroll and tax information, which the SBA used to calculate the amount of PPP funds to which the applicant-companies would be entitled. Hawkins used some of the money she obtained from the loans for personal expenses, including to pay off her 2015 Maserati Ghibli luxury car and to purchase property in the greater Dallas area.

    Hawkins pleaded guilty on Oct. 8, 2024, to conspiracy to commit wire fraud.  At sentencing, Hawkins was ordered to pay more than $1.8 million in restitution and to forfeit the residence purchased with proceeds from the fraud.

    Matthew R. Galeotti, Head of the Justice Department’s Criminal Division; Acting U.S. Attorney Nancy E. Larson for the Northern District of Texas; and Special Agent in Charge R. Joseph Rothrock of the FBI’s Dallas Field Office made the announcement.

    The FBI is investigating the case.

    Trial Attorneys Dermot Lynch and Kashan Pathan of the Criminal Division’s Fraud Section prosecuted the case. Assistant U.S. Attorney Elyse Lyons for the Northern District of Texas is handling asset forfeiture.

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

    MIL Security OSI –

  • MIL-OSI USA: Senators Markey and Cassidy Celebrate Committee Passage of Children and Teens’ Online Privacy Protection Legislation

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    Washington (June 25, 2025) – Senator Edward J. Markey (D-Mass.), member of the Commerce, Science, and Transportation Committee, and Senator Bill Cassidy (R-La.) today celebrated the unanimous passage of their Children and Teens’ Online Privacy Protection Act (COPPA 2.0) through the Commerce Committee. The legislation would update online data privacy rules for the 21st century and ensure children and teenagers are protected online.
    “We are proud of the momentum and broad support that our commonsense Children and Teens’ Online Privacy Protection Act is gaining from industry, advocates, and our own Senate colleagues,” said Senators Markey and Cassidy. “Today’s unanimous vote is further evidence of the broad, bipartisan commitment to protecting children and teens online. As our young people continue to face a devastating youth mental health crisis, Congress must pass COPPA 2.0 and implement these overdue safeguards for children and teens.”
    Specifically, the Children and Teens’ Online Privacy Protection Act would:
    Ban targeted advertising to children and teens;
    Create an “Eraser Button” by requiring companies to permit users to delete personal information collected from a child or teen;
    Establish data minimization rules to prohibit the excessive collection of children and teens’ data;
    Revise COPPA’s “actual knowledge” standard to close the loophole that allows platforms to ignore kids and teens on their site; and
    Build on COPPA by prohibiting internet companies from collecting personal information from users who are 13 to 16 years old without their consent.

    MIL OSI USA News –

  • MIL-OSI USA: NPR and PBS Are More Than Just “Tiny Desk” and “Daniel Tiger” — They Are Critical to Public Safety

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell
    06.25.25
    NPR and PBS Are More Than Just “Tiny Desk” and “Daniel Tiger” — They Are Critical to Public Safety
    14 stations in WA at risk of losing funding if Senate passes administration’s rescissions package
    WASHINGTON, D.C. – 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, released a Snapshot Report that highlights data on public broadcasters across the United States and broadcasters’ role in responding to emergencies and public safety events. In rural areas, public broadcasters may be the sole source of information during emergencies, leaving them disproportionately impacted by federal funding cuts to the Corporation for Public Broadcasting (CPB).
    “Public television and radio aren’t just for quality children’s television and unique radio content,” said Sen. Cantwell. “For millions of Americans, these stations are often their only source of emergency information during weather disasters. Earlier this month, House Republicans approved President Trump’s rescission request clawing back $1.1 billion in Congressionally-approved funding for public broadcasting. This report shows that if Senate Republicans allow this devastating cut to pass the Senate, nearly 13 million Americans could be left without access to their public media stations and the life-saving emergency alerts or information they need. As people prepare for potential hurricanes, wildfires, and other extreme weather events, we should not be gutting our support for public media.”
    The report included several key findings:
    The operations of 79 public radio and 33 TV stations across 34 states and territories are considered vulnerable to federal funding cuts.
    Nearly 13 million Americans live in communities under threat of losing their local public broadcast stations. What’s worse, these stations serve large swaths of the Western, Midwestern, and Southeastern United States at risk of wildfires, tornadoes, hurricanes, and other public safety emergencies. This double threat casts uncertainty on the ability of these stations to disseminate emergency alerts and information to residents when they need it most.
    More than 70 percent of federal funding goes directly to local public broadcasters for content, interconnection, and support services. It would cost local public broadcasters more than double the CPB’s current contribution to replace these critical services through alternative public or private means.
    Support through the CPB is critical for many local stations, with the most vulnerable in rural and remote communities. Public radio and television stations serve as the primary—often sole—source of local news, educational content, and emergency alerts. These stations rely heavily on federal funding, with some depending on it for over 70 percent of their budgets. Some rural areas depend on their local public media station as their only source of information in emergencies. 
    KDNA-AM, which has a studio in Granger, WA, and serves the surrounding area, is reliant on federal CPB grants for a significant portion of its operating budget. KDNA serves an area that is at a high risk of wildfires, including the city of Yakima, with a population of over 90,000. KDNA plays a critical role in responding to emergencies by providing local news and information. Without continued federal funding, KDNA and other public broadcasters will have to find alternative funding sources or risk being unable to provide their essential public safety services.
    In severe storm and wildfire situations that knock out a community’s power supply, TVs broadcasting news on the path of an incoming tornado may go dark due to power outages, and cell phones may lose service, leaving families with only local public radio broadcasts delivered to battery-powered, hand-crank, or car radios. Without local broadcasting, families in rural areas may not receive critical alerts in time to get to safety.
    On June 3, President Trump submitted a rescission request to Congress for the CPB’s FY 2026 and 2027 funding, seeking to claw back nearly $1.1 billion in Congressionally-approved funding. On June 12, the House approved the President’s rescission request, and it is now before the Senate. If passed by the Senate, these cuts may leave millions of Americans without access to lifesaving alerts and emergency information.
    In Washington state, funding for 14 public broadcasting stations is at risk under the House-passed rescissions package now being considered by the Senate. 
    In May, Sen. Cantwell joined Rick Steves to blast the Trump Administration for its assault on the CPB. 
    See the impacted areas below and to access the full report, please click HERE.

    MIL OSI USA News –

  • MIL-OSI USA: VIDEO: Capito Questions Attorney General Bondi at DOJ Budget Request Hearing

    US Senate News:

    Source: United States Senator for West Virginia Shelley Moore Capito
    [embedded content]
    Click here or on the image above to watch Senator Capito’s questions. 
    WASHINGTON, D.C. — Today, U.S. Senator Shelley Moore Capito (R-W.Va.), a member of the Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies, questioned Attorney General Pam Bondi at a hearing to review the president’s Fiscal Year 2026 budget request for the U.S. Department of Justice. 
    HIGHLIGHTS:
    ON THE ATF’S NATIONAL TRACING CENTER IN MARTINSBURG:
    SENATOR CAPITO: “I wanted to point out the ATF’s National Tracing Center, which is in West Virginia, is the only one of its kind to trace U.S. and foreign manufactured firearms. The facility provides critical information that helps solve crimes, detect trafficking, and track the movement of crime-related firearms. In 2024, that National Tracing Center processed more than 600,000 requests. I just want to make certain that in the budget there is enough…to meet the demands, and that these critical services can be sustained with the budget request you’ve made.” 
    ATTORNEY GENERAL BONDI: “Senator, our budget continues to fully fund the National Tracing Center. I will personally make sure that that is funded. It will continue to be operated by ATF, as well, and it does such important work… They do amazing work. I’ve seen the work they do firsthand. And I would also—in all my spare time—I would also love to visit that center. I really want to visit that center and see what we can do also to enhance it and work with you on that. It’s so important. You know, these are issues that cross party lines. This is what every American in our country we should be working together on… You have been a true advocate for it for your state.” 
    ON THE HAZELTON PRISON: 
    SENATOR CAPITO: “Hazelton…is a very large prison with over 3,000 inmates. They’ve had some issues out there, big issues out there. Allegations, with staff shortages, gross mismanagement, abuse, coverups, falsifying documents. I’m sure you’re tracking these issues. I do want to compliment the president on his appointment of William Marshall, a West Virginian, former state trooper…he’s going to do a fantastic job. So, thank you for bringing in such a strong advocate, he’s already been very responsive to us on Hazelton, which has had chronic issues throughout the last several years, regardless of what administration it’s been. I wanted to put that on your radar.” 
    ON THE VIOLENCE AGAINST WOMEN ACT: 
    SENATOR CAPTIO: “I will say, I’ve been a big supporter of the Violence Against Women Act. I am proud of the work that we’ve championed here on the Appropriations Committee for this. It’s really sad when you think of what happens in families sometimes and the proliferation of violence is extremely concerning to me. I’ve worked in this area for a long time, so I just wanted to let you know my passion in this area.” 

    MIL OSI USA News –

  • MIL-OSI USA: Commerce Committee Passes Peters’ Bipartisan Bill to Improve Commercial Space Policy, Strengthen Industry Competitiveness

    US Senate News:

    Source: United States Senator for Michigan Gary Peters
    Published: 06.25.2025
    Bill Now Advances to Full Senate

    WASHINGTON, DC – The Senate Commerce, Science, and Transportation Committee passed U.S. Senator Gary Peters’(MI) bipartisan bill to strengthen commercial space policy and promote industry competitiveness. Peters’ bipartisan legislation – which he reintroduced with U.S. Senator Roger Wicker (R-MS) – would establish a Commercial Space Activity Advisory Committee within the Office of Space Commerce. The bill would enable the advisory committee, made up of representatives with extensive experience in the commercial space industry from a variety of fields including space policy, engineering, and research, to share important insights into non-governmental space activity to help inform and shape federal policy and programs. The legislation now moves to the full Senate for consideration.
    “The importance of the commercial space sector will only continue to grow as it plays a larger role in shaping the future of space exploration,” said Senator Peters. “I’m proud to lead this bipartisan legislation to provide space industry leaders in Michigan and across the U.S. with a chance to shape federal space policy and provide insight into how to stay competitive on a global scale. I’m going to continue working with my colleagues to see it pass the Senate.” 
    The Commercial Space Activity Advisory Committee would be comprised of 15 members who make recommendations on various priorities, including: 
    Identifying challenges relating to international obligations and export controls that affect the commercial space sector. 
    Addressing the need to access adequate, predictable, and reliable radio frequency spectrum. 
    Reviewing best practices for U.S. entities to avoid harmful environmental impacts to both earth and space. 
    Providing recommendations on matters related to space sector development and other activities the advisory committee considers necessary. 

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Russell Fry’s Federal Law Enforcement Officer Service Weapon Purchase Act Passes in the House

    Source:

    Rep. Russell Fry’s Federal Law Enforcement Officer Service Weapon Purchase Act Passes in the House

    WASHINGTON, D.C. – Congressman Russell Fry’s (SC-07) Federal Law Enforcement Officer Service Weapon Purchase Act passed in the House of Representatives. This legislation will allow current and retired law enforcement officers to purchase their retired firearms.

    Under current law, federal agencies are required to destroy retired firearms. This process costs the federal government millions of dollars and trickles down to American taxpayers.

    Allowing current and retired federal law enforcement officers in good standing to purchase retired firearms is a common sense, cost-saving measure that benefits both law enforcement and American taxpayers.

    “I’m thrilled to see the Federal Law Enforcement Officer Service Weapon Purchase Act pass in the House,” said Congressman Fry. “Not only will it save taxpayer dollars, it also creates a system in which law enforcement officers in good standing can exercise their Second Amendment rights by purchasing their retired service weapons. It is common sense legislation that recognizes the service of our federal officers while also encouraging responsible use of government resources.”

    Full text of the Federal Law Enforcement Officer Service Weapon Purchase Act can be found here.

    Congressman Fry serves on both the House Energy and Commerce Committee and the House Judiciary Committee. To stay up to date with Congressman Fry and his work for the Seventh District, follow his official Facebook, Instagram, and X pages and visit his website at fry.house.gov.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: UK seeks views on further trade protections for steel

    Source: United Kingdom – Government Statements

    Press release

    UK seeks views on further trade protections for steel

    The UK has launched a six-week Call for Evidence, inviting views from across the steel supply chain to help shape new, future-ready trade measures.

    • Government invites businesses to shape future steel trade protections and strengthen the UK’s critical supply chains.
    • Key step in ensuring continued protection for the UK steel industry—building on the recent deal with the US to lift steel tariffs.
    • Follows a series of government actions under the Plan for Change to defend UK steel, protect jobs and secure major sites like Port Talbot and Scunthorpe.

    Steel producers, consumers, and unions will shape the UK’s future trade approach for steel, as Ministers seek robust long-term protections for the industry.

    Safeguard measures are put in place temporarily to address sudden import surges and help industry adapt to new trading environments, however the challenges now facing the steel industry demand longer-term solutions.

    The current UK steel safeguard measure ends in June 2026 and cannot be extended. The views from industry will help shape new future-ready trade measures that will protect UK businesses and jobs right across the country. 

    Business and Trade Secretary Jonathan Reynolds said:

    We know this is a tough time for steel producers which is why this Government is using every tool available to ensure the long-term success of our vital steel industry, protect jobs and deliver on our Plan for Change.

    Thanks to our deal with the United States, all Section 232 tariffs on UK steel will be removed—while producers in other countries still face tariffs of up to 50%. But we’re not stopping there.

    We will not sit by idly while cheap imports threaten to undercut UK industry, so we are inviting industry to shape the next phase of our trade defences so we can provide robust support and ensure a fair and competitive market.

    The six-week Call for Evidence comes in addition to further government action to support industry amid global challenges. This includes securing a trade deal with the US to remove tariffs on steel products and protect jobs. It also includes announcing the upcoming steel strategy, which will establish a long-term vision for the sector and help build resilient supply chains. These efforts follow the launch of both the Trade and Industrial Strategy, which set out broader plans to support key industries, including steel.

    This Call for Evidence is a key step in the Government’s wider commitment to rebuilding the steel sector, alongside decisive interventions such as the £500 million grant securing the transformation of Port Talbot steelworks, the £2.5 billion investment pledged to rebuild the sector, the action taken to safeguard British Steel’s blast furnaces at Scunthorpe, and the forthcoming Steel Strategy.

    UK Steel Director General Gareth Stace said:

    It is welcome news that the Government is developing a new steel trade defence mechanism.

    With growing global steel overcapacity and rising trade diversion, Government must deliver a new trade defence system to provide industry certainty before steel safeguards expire in June 2026.

    UK Steel looks forward to working with Government to design an effective framework that will help to level the playing field on international trade and provide the market stability needed to draw investment in the UK steel sector.

    Community Assistant General Secretary Alasdair McDiarmid said:

    Trade protections are a vital bastion for our steel industry in the face of global overcapacity, rising protectionism and unfair trade. They provide essential security, and safeguard thousands of jobs across the UK steel industry and its extensive supply chains.

    We welcome the UK Government’s early engagement with the sector to shape our future steel protections and ensure that a cliff-edge scenario next year is prevented.

    This government has demonstrated its steadfast support for our steel industry, and we will continue to work with them to secure the long-term future of the sector.

    Notes to editors

    • The Call for Evidence opens today and will run for six weeks, inviting stakeholders across the UK steel supply chain to submit feedback that will shape future trade measures.
    • For more details and to submit evidence, visit GOV.UK.
    • The UK’s steel safeguard measure is set to expire in June 2026 because it’s a temporary measure providing domestic industries with time to adjust to changing market conditions. These measures are meant to be in place for a limited time to allow industries to adapt to the influx of imports. WTO rules don’t allow for indefinite extensions of safeguard measures.

    Updates to this page

    Published 25 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: New Trade Strategy to protect and boost British business

    Source: United Kingdom – Government Statements

    Press release

    New Trade Strategy to protect and boost British business

    The strategy will make the UK the most connected nation in the world while protecting vital industries from global threats and backing businesses to thrive.

    New Trade Strategy to protect and boost British business 

    • Trade Strategy sets out how UK will unlock £5 billion for businesses and expand UKEF capacity to £80 billion, delivering growth as part of the Plan for Change  

    • Trade defence toughened up with new and improved tools to better protect our vital industries from global threats  

    • UK sets its sights on quicker deals that firms can benefit from sooner, with a strong focus on services and high growth sectors 

    British Businesses will be given greater access to global markets more quickly as the UK tomorrow [Thursday 26 June] publishes its first Trade Strategy since leaving the EU. 

    The Strategy will make the UK the most connected nation in the world and secure billions worth of opportunities for businesses, helping deliver the economic growth needed to put money in people’s pockets, strengthen local economies, create jobs, and raise living standards.  

    It takes a more agile and targeted approach than the previous government’s, focusing on quicker, more practical deals that deliver faster benefits to UK businesses. It strengthens trade defences, expands export finance – especially for smaller firms – and aligns trade policy with national priorities like green growth and services. It’s a smarter, more responsive plan for a changing global economy. 

    The Trade Strategy:  

    • Unlocks £5 billion worth of opportunities for UK exporters through the new Ricardo Fund, which will tackle complex regulatory issues, shape global standards, and remove obstacles for UK businesses selling abroad.  

    • Expands UK Export Finance (UKEF)’s capacity by £20 billion to a total of £80 billion, announces a new Small Export Builder to give smaller firms better access to export protection insurance, and introduces improvements to help overseas buyers finance repeat orders from trusted UK suppliers in a more streamlined way.   

    • Vows to bolster our trade defence toolkit and make our trade remedies system more agile, assertive, and accountable to guard British businesses against global turbulence and the growing threat of unfair trading practices.   

    • Targets more mutual recognition of qualifications to boost the UK’s status as a services superpower – the 2nd biggest exporter of services in the world.  

    • Builds on existing clean energy and green sector agreements with partners including Norway, Japan and South Korea and explores new, deeper cooperation with markets such as Brazil, the Philippines and Mexico.    

    • Announces the UK will join the Multi-Party Interim Appeal Arbitration Arrangement (MPIA), a temporary arbitration arrangement for resolving appeals to WTO trade disputes, demonstrating our commitment to an effective rules-based international trading system 

    The Trade Strategy comes amid a backdrop of turbulent economic waters, resurgent protectionism and unfair trading practices creating significant challenges for businesses and industries across the whole of the UK. Together with our modern Industrial Strategy – a plan to grow the UK’s growth-driving sectors – we are strengthening businesses at home and setting clear direction to ensure success abroad and create high-paid, secure jobs in every part of this country.  

    It follows three significant trade deals agreed last month with huge benefits for UK businesses, jobs and consumers. Not only does our deal with India add £4.8 billion to the economy and £2.2 billion to wages each year, its reduced and liberalised tariffs means more whisky and gin is likely to be sold to Indian consumers and British shoppers could see cheaper prices on things like clothes, footwear and food products.  

    Our landmark deal with the US, the only one they have agreed with any country, protects hundreds of thousands of British jobs from automotive workers in the West Midlands, to aeroplane builders in Wales, to steelmakers in Scunthorpe. It shows the government delivering on its promise to champion British businesses and put jobs and livelihoods first. 

    The EU agreement, meanwhile, cuts red tape and improves access to our biggest trading partner. It means Scottish salmon farmers can sell their fish more easily to the EU, Welsh sausages and lamb mince exports will no longer be blocked, and British pets can join their owners on holiday with less headache.   

    Prime Minister, Keir Starmer, said: 

    What works for business, works for Britain. It means more jobs, more opportunities, and more money in people’s pockets. 

    That’s why I’ve backed British industry through global headwinds – securing major trade deals with the US, India and the EU that protect jobs and drive growth right across the country. 

    Today’s Trade Strategy is a promise to British business: helping firms sell more, grow faster, and compete globally. It’s about delivering growth as part of our Plan for Change—and making sure working people feel the benefits.

    Business and Trade Secretary Jonathan Reynolds said:  

    The UK is an open trading nation but we must reconcile this with a new geopolitical reality and work in our own national interest  

    Our Trade Strategy will sharpen our trade defence so we can ensure British businesses are protected from harm, while also relentlessly pursuing every opportunity to sell to more markets under better terms than before.  

    Broad and complex trade deals like we secured with India will bring billions to our economy every year but to deliver the Plan for Change we will strike more agile, targeted deals that exploit the sectors which drive the most growth for our economy.

    It comes as the government works in partnership with industry to shape future steel trade measures which will prevent cheap imports from undercutting UK businesses, following the expiry of the current UK steel safeguard measure in June 2026. Collaboration with steel producers, consumers and unions will help ensure the new phase of our trade defences continue to protect UK businesses and jobs, while providing a fair and competitive market.  

    UKEF measures included in the Strategy accompanies news this week that up to £13 billion of direct lending will be used to help boost exports across key industrial sectors, marking a £3 billion uplift in UKEF’s facility.  

    Trade Minister Douglas Alexander said:  

    This new hard-headed, data driven, and agile approach to trade policy is guided by our pragmatic patriotism. In this changed and challenging world, we will promote what we can and protect what we must to advance the UK’s national interest.  

    Through our Trade Strategy, we are supporting our businesses to expand and export with a wider range of trade tools that harness our high-growth industries of the future to deliver this government’s Plan for Change.  

    As we target these agreements, we will take every step necessary to safeguard British businesses from the increasingly protectionist mood in much of the world by sharpening our defensive toolkit.

    To complement the Trade Strategy, we have also today published the Global Trade Outlook 2025 which explores the long-term trends that may shape the global economy and international trade in the coming decades.

    Shevaun Haviland, Director General at the BCC, said: 

    The Trade Strategy sets out a clear, evidence-based approach to raising the UK’s export game. It rightly targets our strength in services, and vital high-growth goods sectors while identifying key markets in the Indo-Pacific, Americas and European neighbourhood.

    A focus on sectoral and digital trade deals is also welcome, alongside a commitment to a functioning rules-based global trading system. 

    Place matters in trade. This strategy can generate economic growth in every nation and region of the UK, lowering tariffs and removing trade barriers. Our Chamber Network stands ready to build, invest and deliver on international trade as a partner of government and an engine for economic growth.

    Rain Newton-Smith, CEO, CBI said:

    Businesses are clear that positioning the UK as an outward looking nation is a show of strength in this increasingly fragmented world. Backing free trade is critical to facing the great global challenges and opportunities of our time.

    The UK must be bold and ambitious to be a key player in the global race for growth. Today’s Strategy offers a dynamic vision which will help the UK to position itself as one of the world’s leading locations for investment and trade. Leaning into that openness, our international commitments, and partnerships with like-minded allies will be integral to our success.

    We now need government and business to work together to turn this ambition into action and ensure that the UK seizes on the opportunities available within the global economy.

    Ian Stuart, CEO of HSBC UK:  

    I welcome today’s announcement of the Trade Strategy. It provides a vital blueprint to ensure the UK’s continued role as a great trading nation and leading services exporter, with a focus on the sectors that will drive growth in the decades to come.  

    It also rightly recognises the challenges many exporters face at a time of heightened global uncertainty. This is a necessary first step in giving businesses the tools they need to thrive on the world stage. HSBC looks forward to supporting businesses to take advantage of the strategy and unlock the full benefits of international trade.

    Jon Holt, Group Chief Executive and UK Senior Partner, KPMG, said:    

    Our professional and business services industry is an international success story with our expertise in demand around the world. As a high-growth sector, we have long called for a Trade Strategy that enables UK businesses to take advantage of new global opportunities and expand into emerging markets.  

    Today we have a clear plan. From removing barriers to overseas markets, to making it easier for our highly skilled people to travel and work across borders, this approach will strengthen our connectivity, boost inward investment and make sure our sector remains globally competitive.

    The strategy’s success will depend on a strong partnership between business and Government.

    Stephen Phipson CBE, CEO of Make UK, the manufacturers’ organisation said:

    Industry will welcome the Trade Strategy which, for the first time, aligns hard on the heels of the Industrial Strategy and is a perfect example of joined up thinking across Government which has long been missing.

    In particular, as well as a focus on new markets, it will help optimise market access and signposting for companies, especially SMEs, to take advantage of current trade deals with a new focus on strategic economic partnerships with key trading partners.

    At the same time, as well as helping boost exports, it will strengthen trade defences against the threat of dumping and support UK firms in reporting possible trade discrepancies to the Trade Remedies Authority.

    Mike Hawes, SMMT Chief Executive, said:  

    UK Automotive is a trade powerhouse, generating imports and exports worth £108 billion a year and typically Britain’s biggest exporter of manufactured goods. Free and fair trade is fundamental to our success and recent agreements with India, the US and, particularly, the EU signal that intention.

    Today’s trade strategy, aligned to the industrial strategy announced earlier this week, provides confidence to help our sector navigate the many headwinds we face and sets a foundation for future success.

    Balanced trading relationships that break down tariffs and regulatory barriers to trade will enable automotive companies to grow and get great British products into the hands of consumers all over the world, boosting jobs, business and prosperity at home.

    Heathrow’s Chief Communications and Sustainability Officer, Nigel Milton, said:   

    We welcome this Trade Strategy, which is set to provide greater support for exporters and champion the importance of free trade.   

    As the UK’s hub airport and largest port by value, we know firsthand how trade can serve as a powerful engine for economic growth.   

    With our unrivalled access to global markets Heathrow is the UK’s gateway to growth and we stand ready to support the Government and exporters from across the country with the rollout of the new strategy.

    Paul Nowak, TUC General Secretary, said:

    This is an important step forward to a trade agenda with workers’ rights and good jobs at its heart.

    It’s right that the government is focusing on removing barriers to trade with our largest trading partner – the EU – on which thousands of quality jobs depend, and it’s vital that the government continues to show ambition in its trading reset with the bloc.

    Standing up for good jobs in sectors such as steel is essential and hugely welcome, especially with global trade wars leading to countries undercutting British products with cheaper foreign imports.

    The government has set out a path towards a values-based approach to trade, which supports international labour standards and human rights globally. We look forward to seeing the full detail and working with them to deliver this.

    John Pattinson, Founder and Managing Director of Air Covers Ltd, and a DBT Export Champion, said:   

    The UK Government plays a vital role in enabling and accelerating the journey to export – a critical driver of economic growth. At Air Covers, we have benefited greatly from our close partnership with DBT Wales.  

    The support we’ve received from DBT Wales, as well as from UK embassies and High Commissions around the world, has been instrumental to our expansion and success in international markets.  

    We believe that the UK Government’s Trade Strategy will open new opportunities for growth, both in established regions and emerging markets. For UK exporters, free trade agreements and the simplification of cross-border regulations are essential to unlocking global potential and maintaining a competitive edge.

    Julian David, CEO of techUK, said:

    TechUK welcomes the launch of this trade strategy as a landmark moment. For the first time, we have a coherent, long-term plan that reflects the realities of current geopolitics and the UK’s unique strengths – particularly in services and high-growth, innovation-driven sectors like ours.

    It’s especially encouraging to see government pulling together the full suite of tools at its disposal – from digital trade agreements to commercial diplomacy and meaningful trade defence instruments. We look forward to working closely with government to turn this vision into impact and ensure the UK remains a leader in the global digital economy.

    Marco Forgione, Director General of the Chartered Institute of Export & International Trade, said:

    Today’s new Trade Strategy is a welcome step forward that reflects many of the priorities we’ve been championing on behalf of our members, especially SMEs, who need targeted, accessible support to grow internationally.

    From the Small Exports Builder to enhanced UK Export Finance, these are practical tools designed to reduce friction and unlock potential for thousands of firms across the UK.

    We’ve worked closely with government to feed in the real-world experiences of our members, and it’s encouraging to see those insights reflected in today’s announcement.

    Launched alongside the Industrial Strategy, this sets a more joined-up direction for trade and growth. Now the focus must be on delivery, and we stand ready to help make it happen.

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

    Small firms know exporting is good for growth, so it’s good to see a clear strategy on trade. We welcome the government’s commitment to creating better digital tools, less red tape and putting stronger focus on practical support beyond just trade deals. 

    We also need to see more money and new funding programmes for SMEs wanting to trade internationally, as well as more bespoke support for the smallest firms, who do not qualify for one-to-one help.

    Small firms have been bogged down by unnecessary rules and costs for far too long, and today’s strategy is the first step to creating a better environment for exporters and importers.

    Notes to editor 

    • Department for Business and Trade (DBT) analysis of UNCTAD (2025) Global import data 2013-2023, mapped to industry sectors using sector definitions from DBT (2023) Global trade outlook.  

    • The GTO will be published at 0001 Thursday 26 June here 

    • The Trade Strategy will be published 0915 Thursday 26 June here 

    • More information on the UK Steel Trade Measures Call for Evidence will be issued separately, embargoed until 22.30 Thursday 25 June.

    Updates to this page

    Published 25 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI New Zealand: BNZ offers flexible business loans up to $50,000, approved in minutes

    Source: BNZ Statements

    Small businesses can now access unsecured finance of up to $50,000 with BNZ’s new Merchant Flexi Loan, with approval in as little as three minutes. It offers eligible businesses a simple way to manage cash flow and fuel growth, with no interest and just a one-off fee.

    Karna Luke, BNZ Executive for Customer Products and Services, says it delivers the speed and flexibility small businesses need to grow.

    “Our Flexi Loans give small businesses fast access to capital, without the need to provide paperwork like financial statements or business plans. Instead, we use actual card sales data from the past 12 months to determine loan eligibility and calculate a personalised loan offer.

    “Businesses can see their personalised offer, choose their preferred repayment rate and get a decision in minutes. Once accepted, funds are available within two business days.”
    Repayments are set at a rate chosen by the business, between 10% and 30% of daily card sales, and are automatically deducted.

    “This means repayments are higher when sales are strong and lower when business is quieter, helping owners stay focused on operations with cash flow under control,” Luke says.

    Christchurch institution Waffle Haus takes advantage to expand business

    The benefits of this flexible approach are already being realised BNZ customers like Jamie Stewart. He already had a successful Waffle Haus café in Akaroa when he expanded to Christchurch, opening on New Regent Street in December 2020. Now, with both locations thriving, he’s using BNZ’s Merchant Flexi Loan to fund expansion into a third branch, set to open next month at The Colombo shopping centre.

    “A lot of prep goes into opening a new location – it takes about a year to get everything in place,” says Jamie. “When the Merchant Flexi Loan became available, the timing was perfect because I was looking at a significant equipment investment for the new café and wanted to preserve working capital for other business needs.”

    For Jamie, whose capital is invested in growing his business rather than property assets that could be used as security, the merchant sales-based approach offers a compelling alternative to traditional secured lending. Instead of needing collateral, the loan is based on his proven sales performance.

    The flat fee structure also appealed to Jamie: “The fee worked out at about 2.5% of the loan amount, which is really good value and substantially cheaper than a traditional business loan.”
    With trading patterns that vary over time – busy evenings year-round, peak weekends and school holidays, plus seasonal fluctuations – Jamie appreciates having repayments that adjust accordingly.

    “The winter period is slightly quieter for us than the summer and school holiday peaks,” he says. “Having repayments that flex with our natural business rhythms makes financial planning much easier.”

    Fast funding when opportunities arise

    Karna Luke says timing is critical when business opportunities emerge, which is why the BNZ team has worked hard to make the process of applying for a Merchant Flexi Loan as fast and simple as possible.

    “Our customers tell us they need to move fast to stay competitive and grow, whether that’s securing new equipment, expanding their premises, or taking advantage of seasonal demand. By streamlining the application process and using data we already have, we can help them seize those opportunities without delay.

    “It’s about bringing together speed, simplicity and flexibility to make it easier to move quickly when opportunity knocks. We’re proud to be the first New Zealand bank to offer a lending solution like this.”

    To find out how Merchant Flexi Loan can help your business manage cash flow and growth, visit bnz.co.nz/business-banking/loans-and-finance/merchant-flexi-loans

    The post BNZ offers flexible business loans up to $50,000, approved in minutes appeared first on BNZ Debrief.

    MIL OSI New Zealand News –

  • MIL-OSI: Apollo Names Celia Yan as Head of Hybrid for Asia Pacific

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, June 26, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that Celia Yan has joined the firm as a Partner and Head of Hybrid for Asia Pacific. Based in Hong Kong, Yan will lead the expansion of Apollo’s hybrid platform across the region, building on the firm’s momentum in delivering flexible, tailored capital solutions across private markets.

    Apollo’s hybrid business focuses on delivering creative, partnership-driven solutions that sit between traditional debt and equity. We provide solutions that help companies fund growth initiatives, generate liquidity and deleverage balance sheets, among other bespoke applications. In this newly created role, Yan will drive origination, execution and growth for Apollo’s hybrid strategies in Asia Pacific.

    Yan brings over 20 years of industry experience and extensive private investment expertise across Asia Pacific, most recently serving as Head of APAC Private Credit at BlackRock. Previously, she held senior investment roles at ADM Capital, National Australia Bank and Equity Trustees Limited (EQT).

    “Celia’s experience across private markets investing, managing cross-border teams and growing business verticals makes her a key addition as we grow our hybrid business in Asia Pacific,” said Matthew Michelini, Partner and Head of Asia Pacific at Apollo. “As companies and investors increasingly seek structured and creative solutions, Celia will help us deliver for clients across the region.”

    Chris Lahoud, Partner at Apollo, said: “As capital markets evolve, we see an attractive opportunity for hybrid growth in the region, providing partnership-oriented, flexible capital to companies and projects.”

    “Apollo’s integrated platform and global reach, paired with a strong local presence, position the firm to deliver hybrid capital at scale,” said Celia Yan. “Across Asia Pacific, businesses and sponsors are looking for non-dilutive, customized solutions that can address real market inefficiencies—and hybrid is increasingly the answer. I’m excited to join the team and help accelerate this strategy across the region.”

    Yan holds a Bachelor of Commerce from the University of Melbourne and a Master’s in Applied Econometrics from Monash University.

    About Apollo

    Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2025, Apollo had approximately $785 billion of assets under management. To learn more, please visit www.apollo.com.

    Apollo Contacts

    Noah Gunn
    Global Head of Investor Relations
    Apollo Global Management, Inc.
    (212) 822-0540
    IR@apollo.com

    Joanna Rose
    Global Head of Corporate Communications
    Apollo Global Management, Inc.
    (212) 822-0491
    Communications@apollo.com

    The MIL Network –

  • MIL-OSI: Apollo Names Celia Yan as Head of Hybrid for Asia Pacific

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, June 26, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that Celia Yan has joined the firm as a Partner and Head of Hybrid for Asia Pacific. Based in Hong Kong, Yan will lead the expansion of Apollo’s hybrid platform across the region, building on the firm’s momentum in delivering flexible, tailored capital solutions across private markets.

    Apollo’s hybrid business focuses on delivering creative, partnership-driven solutions that sit between traditional debt and equity. We provide solutions that help companies fund growth initiatives, generate liquidity and deleverage balance sheets, among other bespoke applications. In this newly created role, Yan will drive origination, execution and growth for Apollo’s hybrid strategies in Asia Pacific.

    Yan brings over 20 years of industry experience and extensive private investment expertise across Asia Pacific, most recently serving as Head of APAC Private Credit at BlackRock. Previously, she held senior investment roles at ADM Capital, National Australia Bank and Equity Trustees Limited (EQT).

    “Celia’s experience across private markets investing, managing cross-border teams and growing business verticals makes her a key addition as we grow our hybrid business in Asia Pacific,” said Matthew Michelini, Partner and Head of Asia Pacific at Apollo. “As companies and investors increasingly seek structured and creative solutions, Celia will help us deliver for clients across the region.”

    Chris Lahoud, Partner at Apollo, said: “As capital markets evolve, we see an attractive opportunity for hybrid growth in the region, providing partnership-oriented, flexible capital to companies and projects.”

    “Apollo’s integrated platform and global reach, paired with a strong local presence, position the firm to deliver hybrid capital at scale,” said Celia Yan. “Across Asia Pacific, businesses and sponsors are looking for non-dilutive, customized solutions that can address real market inefficiencies—and hybrid is increasingly the answer. I’m excited to join the team and help accelerate this strategy across the region.”

    Yan holds a Bachelor of Commerce from the University of Melbourne and a Master’s in Applied Econometrics from Monash University.

    About Apollo

    Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2025, Apollo had approximately $785 billion of assets under management. To learn more, please visit www.apollo.com.

    Apollo Contacts

    Noah Gunn
    Global Head of Investor Relations
    Apollo Global Management, Inc.
    (212) 822-0540
    IR@apollo.com

    Joanna Rose
    Global Head of Corporate Communications
    Apollo Global Management, Inc.
    (212) 822-0491
    Communications@apollo.com

    The MIL Network –

  • MIL-OSI: CVB Financial Corp. Announces 143rd Consecutive Quarterly Cash Dividend

    Source: GlobeNewswire (MIL-OSI)

    Ontario, CA, June 25, 2025 (GLOBE NEWSWIRE) — CVB Financial Corp. (NASDAQ: CVBF) (the “Company”) announced a twenty cent ($0.20) per share cash dividend with respect to the second quarter of 2025. This dividend was approved at the Company’s regularly scheduled Board of Directors meeting held on June 25, 2025. The quarterly dividend will be payable on or about July 24, 2025 to shareholders of record as of July 10, 2025.

    “We are pleased to announce our 143rd consecutive quarterly cash dividend paid to our shareholders,” said David A. Brager, President and Chief Executive Officer.

    Corporate Overview
    CVB Financial Corp. (“CVBF”) is the holding company for Citizens Business Bank. CVBF is one of the 10 largest bank holding companies headquartered in California with greater than $15 billion in total assets. Citizens Business Bank is consistently recognized as one of the top performing banks in the nation and offers a wide array of banking, lending and investing services with more than 60 banking centers and three trust office locations serving California.

    Shares of CVB Financial Corp. common stock are listed on the NASDAQ under the ticker symbol “CVBF”. For investor information on CVBF, visit our Citizens Business Bank website at www.cbbank.com and click on the “Investors” tab.

    Safe Harbor
    Certain matters set forth herein may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including forward-looking statements relating to the Company’s current business plans and expectations, growth projections, and our future financial position and operating results. Words such as “will likely result, “aims”, “anticipates”, “believes”, “could”, “estimates”, “expects”, “hopes”, “intends”, “may”, “plans”, “projects”, “seeks”, “should”, “will” and variations of these words and similar expressions help to identify these forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. These risks and uncertainties include, but are not limited to, all the risk factors set forth in the Company’s public reports, including its Annual Report on Form 10-K for the year ended December 31, 2024, and particularly the discussion of risk factors within that document. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements except as required by law.

    Contact: David A. Brager
    President and Chief Executive Officer
    (909) 980-4030

    The MIL Network –

  • MIL-OSI: CVB Financial Corp. Announces 143rd Consecutive Quarterly Cash Dividend

    Source: GlobeNewswire (MIL-OSI)

    Ontario, CA, June 25, 2025 (GLOBE NEWSWIRE) — CVB Financial Corp. (NASDAQ: CVBF) (the “Company”) announced a twenty cent ($0.20) per share cash dividend with respect to the second quarter of 2025. This dividend was approved at the Company’s regularly scheduled Board of Directors meeting held on June 25, 2025. The quarterly dividend will be payable on or about July 24, 2025 to shareholders of record as of July 10, 2025.

    “We are pleased to announce our 143rd consecutive quarterly cash dividend paid to our shareholders,” said David A. Brager, President and Chief Executive Officer.

    Corporate Overview
    CVB Financial Corp. (“CVBF”) is the holding company for Citizens Business Bank. CVBF is one of the 10 largest bank holding companies headquartered in California with greater than $15 billion in total assets. Citizens Business Bank is consistently recognized as one of the top performing banks in the nation and offers a wide array of banking, lending and investing services with more than 60 banking centers and three trust office locations serving California.

    Shares of CVB Financial Corp. common stock are listed on the NASDAQ under the ticker symbol “CVBF”. For investor information on CVBF, visit our Citizens Business Bank website at www.cbbank.com and click on the “Investors” tab.

    Safe Harbor
    Certain matters set forth herein may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including forward-looking statements relating to the Company’s current business plans and expectations, growth projections, and our future financial position and operating results. Words such as “will likely result, “aims”, “anticipates”, “believes”, “could”, “estimates”, “expects”, “hopes”, “intends”, “may”, “plans”, “projects”, “seeks”, “should”, “will” and variations of these words and similar expressions help to identify these forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. These risks and uncertainties include, but are not limited to, all the risk factors set forth in the Company’s public reports, including its Annual Report on Form 10-K for the year ended December 31, 2024, and particularly the discussion of risk factors within that document. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements except as required by law.

    Contact: David A. Brager
    President and Chief Executive Officer
    (909) 980-4030

    The MIL Network –

  • MIL-OSI USA: Rep. Sherrill and Harshbarger Reintroduce Bipartisan Bill to Modernize Prescription Information

    Source: United States House of Representatives – Congresswoman Mikie Sherrill (NJ-11)

    WASHINGTON, D.C. – Today, U.S. Representatives Mikie Sherrill (NJ-11) and Diana Harshbarger (TN-01) reintroduced the bipartisan Prescription Information Modernization Act, legislation designed to update how prescribing information (PI) is distributed to pharmacists and physicians. This long-overdue reform would allow the Food and Drug Administration (FDA) to finalize a proposed rule permitting drug manufacturers to send prescribing information electronically instead of on printed paper — a change that would improve patient safety and reduce waste.

    “I’m focused on improving our healthcare system to ensure healthcare providers are able to provide the best possible care to patients,” said Rep. Sherrill. “Under outdated rules, providers are prohibited from receiving prescribing information for medications digitally. This legislation would finally modernize our system, allowing pharmacists to access real-time updates on prescription medications that will ensure they can dispense medicines to patients safely while reducing waste at the same time.” 

    “Pharmacists and physicians deserve timely, accurate data when making decisions that impact patient health, not pages of printed material that often arrive late and are immediately discarded,” said Rep. Harshbarger. “This bipartisan bill is a practical update that empowers healthcare professionals with real-time digital access, cuts waste, and ensures patients are receiving the most up-to-date information. Thank you to my colleague, Representative Sherrill for working with me to bring prescribing information into the 21st century.”

    Currently, prescribing information — detailed technical documents intended for healthcare providers, not patients — must be printed and distributed on paper. These documents average 45 pages per prescription and are often bulky, outdated, and discarded soon after arrival. This outdated system, established in 1962, creates significant waste and environmental harm, with roughly 90 billion sheets of paper printed annually to comply with the mandate.

    In 2014, the FDA proposed a rule to allow electronic distribution of prescribing information, but Congress has blocked the rule’s finalization through appropriations riders, forcing providers to continue receiving paper copies that are often outdated as it takes up to 8 to 12 months from printing to shipment of the information. This legislation would give providers the choice of how they receive prescribing information and allow them to opt for digital delivery that offers real-time updates — improving patient care and reducing environmental waste.

    This legislation has drawn support from leading pharmacy and healthcare advocacy organizations, including the Alliance to Modernize Prescribing Information (AMPI) and the following groups: Academy of Managed Care Pharmacy (AMCP), Allergy & Asthma Network, American Pharmacists Association, AmGen, Asthma and Allergy Foundation of America, Association for Accessible Medicines, Beyond Type 1, Biotechnology Innovation Organization, BioNJ, BioUtah, Boomer Esiason Foundation, Environmental Paper Network, Georgia Bio, Healthcare Distribution Alliance, HealthCare Institute of New Jersey, LUNGevity Foundation, Lupin, Maryland Tech Council, MassBio, McKesson, National Association of Chain Drug Stores, National Consumers League, National Grange, NewYorkBIO, North Carolina Biosciences Organization, Texas Healthcare and Biosciences Institute, and Zero Cancer.

    Additional sponsors of this legislation include Reps. David Valadao (R-CA), Don Davis (D-NC), Ken Calvert (R-CA), Scott Peters (D-CA), Julia Letlow (R-LA), Deborah Ross (D-NC), Brad Schneider (D-IL), Steve Womack (R-AR), and Paul Tonko (D-NY).

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Congressman Nathaniel Moran Participates in Small Business Tax Roundtable with U.S. and Tyler Chambers

    Source: Congressman Nathaniel Moran (R-TX-01)

    On Friday, Congressman Nathaniel Moran (TX-01) participated in a Small Business Tax Roundtable hosted by the U.S. Chamber of Commerce and the Tyler Area Chamber of Commerce, where local business leaders and small-business owners from across East Texas gathered to discuss the real-world impact of federal tax policy.

    Tyler, TX – On Friday, Congressman Nathaniel Moran (TX-01) participated in a Small Business Tax Roundtable hosted by the U.S. Chamber of Commerce and the Tyler Area Chamber of Commerce, where local business leaders and small-business owners from across East Texas gathered to discuss the real-world impact of federal tax policy. The conversation focused on the need to make permanent key provisions of the 2017 Tax Cuts and Jobs Act—such as 100% immediate expensing, the increased Qualified Business Income Deduction to 23%, and expanded Small Business and R&D incentives—all central components of the One Big Beautiful Bill (OBBB).

    “I’m grateful to the U.S. Chamber of Commerce, local leaders, and business owners who joined us for this important discussion,” said Congressman Moran. “These conversations and their insight are exactly what we need to shape tax policy that actually works. When it comes to businesses, the One Big Beautiful Bill is about incentivizing innovation and investment, rewarding hard work, protecting small businesses from burdensome taxation and regulations, and making sure businesses in East Texas can grow, hire, and thrive without Washington getting in the way. These conversations remind us of who we’re fighting for—and why passing the OBBB matters.”

    Community and chamber leaders emphasized the importance of smart tax policy and shared firsthand how it affects their region:

    James Sheridan, Board Chair of the Tyler Area Chamber of Commerce, reflected on the roundtable: “It was an honor to host today’s roundtable and highlight the importance of the One Big Beautiful Bill. Extending the 23% deduction for pass-through income—set to expire at the end of this year—will provide meaningful relief to local business owners. By lowering tax rates and expanding this deduction, the law gives entrepreneurs more breathing room to invest in their operations, hire new employees, and support their communities. From family-owned shops in Tyler to service providers across the region, East Texas businesses have thrived under a tax code that rewards hard work and encourages growth.”

    Mark Robinson, Board Chair of the East Texas Coalition, added: “On behalf of the East Texas Coalition, representing Kilgore, Lindale, Longview, Tyler, and Whitehouse Chambers of Commerce, we’re encouraged to see national momentum around key provisions that matter most to our region, particularly the reauthorization of the 2017 Tax Cuts and Jobs Act and the Senate’s recent adjustments to expand short-term Pell Grant eligibility. These provisions directly align with what our employers are asking for: more skilled workers, faster. We also support efforts to streamline federal permitting processes that will boost energy and infrastructure development. These are essential to driving investment, job creation, and long-term economic competitiveness in East Texas.”

    John Gonzales, Executive Director of the Southwest/South Central Region for the U.S. Chamber of Commerce, said: “The U.S. Chamber thanks Congressman Nathaniel Moran for his tireless work to ensure his East Texas small businesses and working families continue to benefit from the pro-growth policies enacted in the Tax Cuts and Jobs Act of 2017. The economic impact of lower rates has helped businesses of all sizes in the district. As a member of the Ways and Means committee, Congressman Moran is working hard to promote jobs and economic growth in the 1st District of Texas.”

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Latta’s Bills to Unleash American Energy & Power AI Approved By Energy and Commerce Committee

    Source: United States House of Representatives – Congressman Bob Latta (R-Bowling Green Ohio)

    Latta’s Bills to Unleash American Energy & Power AI Approved By Energy and Commerce Committee

    Washington, June 25, 2025

    Today, the House Energy and Commerce Committee approved two bills introduced by Congressman Bob Latta (R-OH-5) to unleash American energy as artificial intelligence technology continues to evolve and require increased energy generation: the Electric Supply Chain Act and the Researching Efficient Federal Improvements for Necessary Energy Refining (REFINER) Act. The legislation now awaits consideration on the House floor.   

    The Electric Supply Chain Act directs the Secretary of Energy to conduct regular assessments and submit reports on the supply chain for electricity generation and transmission. The REFINER Act requires the National Petroleum Council to produce a report on the state of petrochemical refineries in the United States.   

    These bills aim to strengthen domestic energy production and infrastructure, priorities Congressman Latta has consistently championed. At today’s full Energy and Commerce markup, he spoke about the importance of supporting these measures. Watch him speak in support of the Electric Supply Chain Act HERE and the REFINER Act HERE. 

    “Generative artificial intelligence isn’t a trend; it’s the backbone of the next industrial era. Countries around the globe are racing to build the full AI stack: data centers, chips, power, and platforms. Here in the United States, we must ensure that we have the right policies in place to have enough energy to power AI and make America an attractive place to build the entire AI supply chain. I’m grateful to my colleagues on the House Energy and Commerce Committee for advancing my two bills to not only support progress in the AI space but also strengthen American-led energy production across the board,” Latta said.    

    Read more about the Electric Supply Chain Act HERE.  

    Read more about the REFINER Act HERE.   

    MIL OSI USA News –

  • MIL-OSI New Zealand: Supermarkets warned about unfair practices

    Source: New Zealand Government

    Economic Growth Minister Nicola Willis has written to the major supermarkets to restate the basic expectation that they take all steps needed to comply with the Fair Trading Act and ensure Kiwi shoppers are not subjected to misleading price claims. 

    “Supermarkets have statutory obligations under the Fair Trading Act to ensure that pricing information is accurate and does not mislead consumers.

    “I am disappointed that I have to spell out to some of New Zealand’s biggest and most sophisticated retail operators – Foodstuffs North Island, Foodstuffs South Island, and Woolworths – that they should have in place processes to prevent inaccurate pricing, institute and publicise refund policies, and train staff to ensure that when errors are reported, fixes occur system-wide. Compliance with the law should be a basic expectation. 

    “I am concerned to hear from the Commerce Commission and Consumer New Zealand that misleading promotional practices and common pricing errors are still occurring within New Zealand’s major supermarket chains.

    “These include customers being charged more at the checkout than the advertised price, specials being advertised that don’t represent a saving on the normal price,  and multibuys that are more expensive than if the products are individually purchased.

    “This week it was reported that two PAKnSave supermarkets that are part of Foodstuffs North Island have pleaded guilty to multiple charges of breaching the Fair Trading Act. The Commerce Commision has also filed proceedings against Woolworths for misleading consumers about prices. 

    “I will not comment on ongoing court proceedings. However, it is clear that as participants in a sector that generates revenue of $27 billion a year, the major supermarkets have the resources to treat their customers fairly. 

    “It should not be customers’ responsibility to alert stores to pricing discrepancies. Kiwi shoppers have the right to expect that the price they pay at the checkout is the same as the price they see in the aisle. 

    “I have asked the major supermarket chains for an update on the actions they are taking to address these issues. It is in their and New Zealand shoppers’ interests that they be clear about what they are doing to ensure shoppers are not misled. 

    “I am considering introducing tougher penalties and potential changes to ensure the provisions of the Fair Trading Act are more readily enforced. 

    “I note that the maximum penalty for a breach of the Fair Trading Act in New Zealand is a fine of $600,000 whereas in Australia the courts can impose a penalty of up to $A50 million.”

    MIL OSI New Zealand News –

  • MIL-OSI USA: SBA Relief Still Available to Virgin Islands Private Nonprofits Affected by Tropical Storm Ernesto

    Source: United States Small Business Administration

    ATLANTA – The U.S. Small Business Administration (SBA) is reminding eligible private nonprofit (PNP) organizations in the Virgin Islands of the July 25 deadline to apply for low interest federal disaster loans to offset economic losses caused by Tropical Storm Ernesto occurring Aug. 13-16, 2024.

    The disaster declaration covers the areas of Saint Croix, Saint John, Saint Thomas and Water Island.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to PNPs providing non-critical services of a governmental nature with financial losses directly related to the disaster. Example of eligible non-critical PNPs include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.

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

    “SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”

    The loan amount can be up to $2 million with interest rates as low as 3.25% and 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 amounts and terms based on each applicant’s financial condition.

    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 July 25, 2025.

    ###

    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 or 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: SBA Relief Still Available to Virgin Islands Private Nonprofits Affected by Tropical Storm Ernesto

    Source: United States Small Business Administration

    ATLANTA – The U.S. Small Business Administration (SBA) is reminding eligible private nonprofit (PNP) organizations in the Virgin Islands of the July 25 deadline to apply for low interest federal disaster loans to offset economic losses caused by Tropical Storm Ernesto occurring Aug. 13-16, 2024.

    The disaster declaration covers the areas of Saint Croix, Saint John, Saint Thomas and Water Island.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to PNPs providing non-critical services of a governmental nature with financial losses directly related to the disaster. Example of eligible non-critical PNPs include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.

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

    “SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”

    The loan amount can be up to $2 million with interest rates as low as 3.25% and 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 amounts and terms based on each applicant’s financial condition.

    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 July 25, 2025.

    ###

    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 or 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: SBA Offers Relief to Tennessee Private Nonprofits Affected by April Storms and Tornadoes

    Source: United States Small Business Administration

    ATLANTA – In response to a Presidential disaster declaration for public assistance issued June 19, 2025, the U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans for certain private nonprofit (PNP) organizations in Tennessee affected by severe storms, straight line winds, tornadoes and flooding occurring April 2–24, 2025.

    The disaster declaration covers the counties of Cheatham, Davidson, Decatur, Dyer, Fayette, Gibson, Grundy, Hardeman, Hardin, Haywood, Henry, Hickman, Lauderdale, Madison, McNairy, Obion, Perry, Steward, and Tipton.  

    Under this declaration, PNPs providing non-critical services of a governmental nature are eligible to apply for both business physical disaster loans and Economic Injury Disaster Loans (EIDLs) from the SBA. Examples of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools, and colleges.

    PNPs may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. Applicants may also be eligible for a loan increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes.

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

    “SBA loans help eligible PNPs cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help PNPs get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”

    Interest rates are as low as 3.625%, 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 amounts and terms based on each applicant’s financial condition.

    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 filing deadline to return applications for physical property damage is Aug. 19, 2025. The deadline to return economic injury applications is March 19, 2026.

    ###

    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 or 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: SBA Offers Relief to Tennessee Private Nonprofits Affected by April Storms and Tornadoes

    Source: United States Small Business Administration

    ATLANTA – In response to a Presidential disaster declaration for public assistance issued June 19, 2025, the U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans for certain private nonprofit (PNP) organizations in Tennessee affected by severe storms, straight line winds, tornadoes and flooding occurring April 2–24, 2025.

    The disaster declaration covers the counties of Cheatham, Davidson, Decatur, Dyer, Fayette, Gibson, Grundy, Hardeman, Hardin, Haywood, Henry, Hickman, Lauderdale, Madison, McNairy, Obion, Perry, Steward, and Tipton.  

    Under this declaration, PNPs providing non-critical services of a governmental nature are eligible to apply for both business physical disaster loans and Economic Injury Disaster Loans (EIDLs) from the SBA. Examples of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools, and colleges.

    PNPs may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. Applicants may also be eligible for a loan increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes.

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

    “SBA loans help eligible PNPs cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help PNPs get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”

    Interest rates are as low as 3.625%, 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 amounts and terms based on each applicant’s financial condition.

    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 filing deadline to return applications for physical property damage is Aug. 19, 2025. The deadline to return economic injury applications is March 19, 2026.

    ###

    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 or 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: SBA Relief Still Available to Pennsylvania Small Businesses and Private Nonprofits Affected by Drought

    Source: United States Small Business Administration

    ATLANTA – The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in Pennsylvania of the July 25 deadline to apply for low interest federal disaster loans to offset economic losses caused by drought occurring on Nov. 19, 2024.

    The disaster declaration covers the Pennsylvania counties of Chester, Delaware, Montgomery and Philadelphia and the Delaware county of New Castle as well as the New Jersey county of Gloucester.

    Under this declaration SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries and PNPs with 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 small business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    “Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”  

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.62% 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 amounts and terms based on each applicant’s financial condition.

    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 July 25, 2025.

    ###

    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 or 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: SBA Relief Still Available to Pennsylvania Small Businesses and Private Nonprofits Affected by Drought

    Source: United States Small Business Administration

    ATLANTA – The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in Pennsylvania of the July 25 deadline to apply for low interest federal disaster loans to offset economic losses caused by drought occurring on Nov. 19, 2024.

    The disaster declaration covers the Pennsylvania counties of Chester, Delaware, Montgomery and Philadelphia and the Delaware county of New Castle as well as the New Jersey county of Gloucester.

    Under this declaration SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries and PNPs with 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 small business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    “Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”  

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.62% 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 amounts and terms based on each applicant’s financial condition.

    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 July 25, 2025.

    ###

    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 or 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: SBA Relief Still Available to Maryland Small Businesses and Private Nonprofits Affected by Drought

    Source: United States Small Business Administration

    ATLANTA – The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in Maryland of the July 25 deadline to apply for low interest federal disaster loans to offset economic losses caused by drought occurring Nov. 19.

    The disaster declaration covers the Maryland counties of Anne Arundel, Caroline, Kent, Queen Anne’s and Talbot as well as Kent County in Delaware.

    Under this declaration SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries and PNPs with 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 small business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    “Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”  

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.65% 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 amounts and terms based on each applicant’s financial condition.

    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 July 25, 2025.

    ###

    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 or 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: SBA Relief Still Available to Maryland Small Businesses and Private Nonprofits Affected by Drought

    Source: United States Small Business Administration

    ATLANTA – The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in Maryland of the July 25 deadline to apply for low interest federal disaster loans to offset economic losses caused by drought occurring Nov. 19.

    The disaster declaration covers the Maryland counties of Anne Arundel, Caroline, Kent, Queen Anne’s and Talbot as well as Kent County in Delaware.

    Under this declaration SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries and PNPs with 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 small business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    “Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”  

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.65% 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 amounts and terms based on each applicant’s financial condition.

    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 July 25, 2025.

    ###

    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 or 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: SBA Relief Still Available to Connecticut Private Nonprofits Affected by August Severe Storms

    Source: United States Small Business Administration

    ATLANTA – The U.S. Small Business Administration (SBA) is reminding small private nonprofit (PNP) organizations in Connecticut of the July 25 deadline to apply for low interest federal disaster loans to offset economic losses caused by severe storm, flooding, landslides, and mudslides occurring on Aug. 18 – Aug. 19, 2024.

    The disaster declaration covers the counties in Fairfield, Litchfield and New Haven.  

    Under this declaration, PNPs providing non-critical services of a governmental nature are eligible to apply for both business physical disaster loans and Economic Injury Disaster Loan (EIDLs) from the SBA. Examples of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools, and colleges.

    PNPs may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. Applicants may also be eligible for a loan increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes.

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

    “SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”

    Interest rates are as low as 3.25%, 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 amounts and terms based on each applicant’s financial condition.

    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 July 25, 2025.

    ###

    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 or 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-Evening Report: Yes, Victoria’s efforts to wean households off gas have been dialled back. But it’s still real progress

    Source: The Conversation (Au and NZ) – By Trivess Moore, Associate Professor in Property, Construction and Project Management, RMIT University

    MirageC/Getty

    On the question of gas, Victoria’s government faces pressure from many directions.

    The Bass Strait wells supplying Australia’s most gas-dependent state are running dry. Gas prices shot up in 2020 and have stayed high. Natural gas is mainly methane, a potent greenhouse gas.

    But weaning more than two million gas-using households off the fossil fuel is hard. The gas lobby pushed back against proposed changes, as did the Victorian Chamber of Commerce and Industry, while resistance from some stakeholders led to a backdown on plans to phase out gas cooktops.

    That’s why the government’s decision to introduce most of the proposed changes is good news. Early plans to require dead gas heaters to be replaced with electric are gone for private housing. But from 2027, new homes have to be all-electric, while landlords will have to replace defunct gas appliances with electric and have ceiling insulation. The move will cut energy bills and accelerate the shift away from gas.

    How did we get here?

    This week’s announcement comes after lengthy consultation on changes first proposed in 2021.

    Some early responses have been supportive, though the gas industry isn’t happy, claiming the reforms will restrict customer choice and cost households more.

    Premier Jacinta Allan pitched the announcement as a way to reserve dwindling and more expensive gas supplies for industry, stating:

    by 2029, these reforms will unlock just under 12 petajoules of gas every year […] by 2035, they’ll deliver 44 PJ annually – enough to meet 85% of Victoria’s forecast industrial demand.

    What are the main changes?

    From January 2027, all newly built homes have to be all-electric. This closes a loophole in existing rules where the all-electric rule only applied to new houses requiring a planning permit.

    When a gas hot water system reaches end of life in an existing house, it will have to be replaced with an efficient electric alternative from March 2027.

    The news is even better for the rental sector.

    In 2021, the state government introduced minimum requirements for rentals. These are now being upgraded to include improved energy efficiency.

    From March 2027, new energy efficiency rules will apply to rentals and public housing, including:

    • gas hot water systems and heaters must be replaced with efficient heat pumps at end of life

    • at the start of a new lease, the rental must have draught proofing, ceiling insulation installed with a minimum R5.0 rating when there is no insulation already, and an efficient electric cooling system in the main living area.

    To help households transition, all upgrades are covered under the Victorian Energy Upgrades program which will help reduce capital costs.

    These plans are welcome. They will cut household energy bills and help meet wider sustainability goals.

    As any Victorian who has sweltered over summer or frozen through winter knows, many of the state’s houses are not great on thermal performance. Most existing homes were built before the introduction of minimum standards in the early 2000s.

    Older homes are also more likely to present health risks such as mould and damp.

    Old gas hot water units in Victoria can be repaired, but replacements will have to be electric from 2027.
    Rusty Todaro/Shutterstock

    Trade-offs proved necessary

    During the consultation period, the Victorian government floated even more ambitious plans, such as requiring all households to replace dead gas heaters with efficient electric options.

    The government originally explored making electric induction cooktops mandatory in new builds. These plans didn’t get through, potentially because of the attachment some householders feel to their gas heaters and cooktops, as we found in our research.

    The state government looks to have decided not to let perfect be the enemy of the good. Better to make significant improvements even with some trade-offs.

    When the market isn’t enough

    Policymakers usually prefer the market to find solutions rather than requiring change through regulations.

    This isn’t always possible. Here, Victoria’s gas supply challenges, subpar housing stock and the pressing need to act on climate change means regulatory nudges are needed.

    Could the government’s changes trigger a backlash? It’s possible, especially if the changes are framed as an added cost to landlords and their tenants. All-electric households are cheaper to run, but it costs money upfront to replace appliances. Waiting until an appliance’s end of life and providing upgrade subsidies will help reduce the cost impact. High gas-users save more – a Melbourne household quitting gas would save almost A$14,000 over ten years.

    18 months until launch

    The first of these changes will be in place in just 18 months.

    Schemes such as this have to be structured carefully. To ensure they work as well as possible for renters in particular, we suggest measures to avoid unintended consequences, such as means-testing any subsidy schemes to avoid leaving out lower-income households.

    We found many householders cannot access reliable information on retrofits and don’t always trust the skills and information given by tradespeople. This is why it’s vital to have accessible, independent, accurate and trustworthy support in understanding how best to replace gas appliances with electric – and how to assess tradie qualifications.

    The government’s decision to exempt rentals with existing ceiling insulation means rentals with old or compacted insulation will miss out.

    Victoria should instead look to the Australian Capital Territory, which mandates installation of new R5.0 insulation if existing insulation isn’t at least R2.

    The government must also ensure renters don’t carry the upfront cost of the upgrades in higher rent. In Sweden, rent increases linked to energy efficiency upgrades were banned.

    For the public to take to these changes, the government must ensure communication is clear and early and that any financial support is adequate and targeted to those most in need.

    Trivess Moore has received funding from various organisations including the Australian Research Council, Australian Housing and Urban Research Institute, Victorian government and various industry partners. He is a trustee of the Fuel Poverty Research Network.

    Nicola Willand has received funding for research from various organisations, including the Australian Research Council, the Victorian state government, the Lord Mayor’s Charitable Foundation, the Future Fuels Collaborative Research Centre, the National Health and Medical Research Council, Energy Consumers Australia and the British Academy. She is a trustee of the Fuel Poverty Research Network charity and affiliated with the Australian Institute of Architects.

    Sarah Robertson has received funding from various organisations, including the Australian Research Council, Australian Housing and Urban Research Institute, Victorian state government, Lord Mayor’s Charitable Foundation, and VicHealth. She is a Steering Committee member for Future Earth Australia.

    – ref. Yes, Victoria’s efforts to wean households off gas have been dialled back. But it’s still real progress – https://theconversation.com/yes-victorias-efforts-to-wean-households-off-gas-have-been-dialled-back-but-its-still-real-progress-259695

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Micron Technology, Inc. Reports Results for the Third Quarter of Fiscal 2025

    Source: GlobeNewswire (MIL-OSI)

    Record revenue in fiscal Q3 with growth across end markets
    Fiscal Q4 revenue projected to grow another 15% sequentially

    BOISE, Idaho, June 25, 2025 (GLOBE NEWSWIRE) — Micron Technology, Inc. (Nasdaq: MU) today announced results for its third quarter of fiscal 2025, which ended May 29, 2025.

    Fiscal Q3 2025 highlights

    • Revenue of $9.30 billion versus $8.05 billion for the prior quarter and $6.81 billion for the same period last year
    • GAAP net income of $1.89 billion, or $1.68 per diluted share
    • Non-GAAP net income of $2.18 billion, or $1.91 per diluted share
    • Operating cash flow of $4.61 billion versus $3.94 billion for the prior quarter and $2.48 billion for the same period last year

    “Micron delivered record revenue in fiscal Q3, driven by all-time-high DRAM revenue including nearly 50% sequential growth in HBM revenue. Data center revenue more than doubled year-over-year and reached a quarterly record, and consumer-oriented end markets had strong sequential growth,” said Sanjay Mehrotra, Chairman, President and CEO of Micron Technology. “We are on track to deliver record revenue with solid profitability and free cash flow in fiscal 2025, while we make disciplined investments to build on our technology leadership and manufacturing excellence to satisfy growing AI-driven memory demand.”

    Quarterly Financial Results
    (in millions, except per share amounts) GAAP(1)   Non-GAAP(2)
    FQ3-25 FQ2-25 FQ3-24   FQ3-25 FQ2-25 FQ3-24
                   
    Revenue $ 9,301   $ 8,053   $ 6,811     $ 9,301   $ 8,053   $ 6,811  
    Gross margin   3,508     2,963     1,832       3,623     3,053     1,917  
    percent of revenue   37.7 %   36.8 %   26.9 %     39.0 %   37.9 %   28.1 %
    Operating expenses   1,339     1,190     1,113       1,133     1,046     976  
    Operating income   2,169     1,773     719       2,490     2,007     941  
    percent of revenue   23.3 %   22.0 %   10.6 %     26.8 %   24.9 %   13.8 %
    Net income   1,885     1,583     332       2,181     1,783     702  
    Diluted earnings per share   1.68     1.41     0.30       1.91     1.56     0.62  
                                           

    For the third quarter of 2025, investments in capital expenditures, net(2) were $2.66 billion and adjusted free cash flow(2) was $1.95 billion. Micron ended the quarter with cash, marketable investments, and restricted cash of $12.22 billion. On June 25, 2025, Micron’s Board of Directors declared a quarterly dividend of $0.115 per share, payable in cash on July 22, 2025, to shareholders of record as of the close of business on July 7, 2025.

    Business Outlook

    The following table presents Micron’s guidance for the fourth quarter of 2025:

    FQ4-25 GAAP(1)Outlook Non-GAAP(2)Outlook
    Revenue $10.7 billion ± $300 million $10.7 billion ± $300 million
    Gross margin 41.0% ± 1.0% 42.0% ± 1.0%
    Operating expenses $1.35 billion ± $20 million $1.20 billion ± $20 million
    Diluted earnings per share $2.29 ± $0.15 $2.50 ± $0.15
         

    Further information regarding Micron’s business outlook is included in the prepared remarks and slides, which have been posted at investors.micron.com.

    Investor Webcast

    Micron will host a conference call on Wednesday, June 25, 2025 at 2:30 p.m. Mountain Time to discuss its third quarter financial results and provide forward-looking guidance for its fourth quarter. A live webcast of the call will be available online at investors.micron.com. A webcast replay will be available for one year after the call. For Investor Relations and other company updates, follow us on X @MicronTech.

    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, 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. 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.

    Forward-Looking Statements

    This press release contains forward-looking statements regarding our technologies, demand for our products, our investments, our industry and our financial and operating results, including our expectations and guidance for the fourth quarter of 2025 and full fiscal year. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially. Please refer to the documents we file with the Securities and Exchange Commission, including our most recent Form 10-K and our upcoming Form 10-Q. These documents contain and identify important factors that could cause our actual results to differ materially from those contained in these forward-looking statements. These certain factors can be found at investors.micron.com/risk-factor. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. We are under no duty to update any of the forward-looking statements to conform these statements to actual results.

    (1) GAAP represents U.S. Generally Accepted Accounting Principles.
    (2) Non-GAAP represents GAAP excluding the impact of certain activities, which management excludes in analyzing our operating results and understanding trends in our earnings, adjusted free cash flow, and business outlook. Further information regarding Micron’s use of non-GAAP measures and reconciliations between GAAP and non-GAAP measures are included within this press release.
       
    MICRON TECHNOLOGY, INC.
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (In millions, except per share amounts)
    (Unaudited)
     
      3rd Qtr. 2nd Qtr. 3rd Qtr. Nine Months Ended
      May 29,
    2025    		 February 27,
    2025    		 May 30,
    2024    		 May 29,
    2025    		 May 30,
    2024
               
    Revenue $ 9,301   $ 8,053   $ 6,811   $ 26,063   $ 17,361  
    Cost of goods sold   5,793     5,090     4,979     16,244     14,485  
    Gross margin   3,508     2,963     1,832     9,819     2,876  
               
    Research and development   965     898     850     2,751     2,527  
    Selling, general, and administrative   318     285     291     891     834  
    Other operating (income) expense, net   56     7     (28 )   61     (267 )
    Operating income (loss)   2,169     1,773     719     6,116     (218 )
               
    Interest income   135     108     136     350     398  
    Interest expense   (123 )   (112 )   (150 )   (353 )   (426 )
    Other non-operating income (expense), net   (68 )   (11 )   10     (90 )   (24 )
        2,113     1,758     715     6,023     (270 )
               
    Income tax (provision) benefit   (235 )   (177 )   (377 )   (695 )   172  
    Equity in net income (loss) of equity method investees   7     2     (6 )   10     (11 )
    Net income (loss) $ 1,885   $ 1,583   $ 332   $ 5,338   $ (109 )
               
    Earnings (loss) per share          
    Basic $ 1.69   $ 1.42   $ 0.30   $ 4.79   $ (0.10 )
    Diluted   1.68     1.41     0.30     4.75     (0.10 )
               
    Number of shares used in per share calculations          
    Basic   1,118     1,115     1,107     1,114     1,104  
    Diluted   1,125     1,123     1,123     1,123     1,104  
    MICRON TECHNOLOGY, INC.
    CONSOLIDATED BALANCE SHEETS
    (In millions)
    (Unaudited)
     
    As of May 29,
    2025    		 February 27,
    2025    		 August 29,
    2024
           
    Assets      
    Cash and cash equivalents $ 10,163   $ 7,552   $ 7,041  
    Short-term investments   648     663     1,065  
    Receivables   7,436     6,504     6,615  
    Inventories   8,727     9,007     8,875  
    Other current assets   945     963     776  
    Total current assets   27,919     24,689     24,372  
    Long-term marketable investments   1,402     1,375     1,046  
    Property, plant, and equipment   44,773     42,528     39,749  
    Operating lease right-of-use assets   628     637     645  
    Intangible assets   426     423     416  
    Deferred tax assets   483     552     520  
    Goodwill   1,150     1,150     1,150  
    Other noncurrent assets   1,616     1,699     1,518  
    Total assets $ 78,397   $ 73,053   $ 69,416  
           
    Liabilities and equity      
    Accounts payable and accrued expenses $ 8,761   $ 6,176   $ 7,299  
    Current debt   538     504     431  
    Other current liabilities   836     1,197     1,518  
    Total current liabilities   10,135     7,877     9,248  
    Long-term debt   15,003     13,851     12,966  
    Noncurrent operating lease liabilities   600     599     610  
    Noncurrent unearned government incentives   603     836     550  
    Other noncurrent liabilities   1,308     1,257     911  
    Total liabilities   27,649     24,420     24,285  
           
    Commitments and contingencies      
           
    Shareholders’ equity      
    Common stock   126     126     125  
    Additional capital   12,960     12,711     12,115  
    Retained earnings   45,559     43,839     40,877  
    Treasury stock   (7,852 )   (7,852 )   (7,852 )
    Accumulated other comprehensive income (loss)   (45 )   (191 )   (134 )
    Total equity   50,748     48,633     45,131  
    Total liabilities and equity $ 78,397   $ 73,053   $ 69,416  
    MICRON TECHNOLOGY, INC.
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (In millions)
    (Unaudited)
     
    Nine Months Ended May 29,
    2025    		 May 30,
    2024
         
    Cash flows from operating activities    
    Net income (loss) $ 5,338   $ (109 )
    Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
    Depreciation expense and amortization of intangible assets   6,203     5,794  
    Stock-based compensation   722     620  
    Change in operating assets and liabilities:    
    Receivables   (123 )   (2,562 )
    Inventories   148     (125 )
    Other current assets   (206 )   (435 )
    Accounts payable and accrued expenses   38     846  
    Other current liabilities   (681 )   769  
    Other   356     304  
    Net cash provided by operating activities   11,795     5,102  
         
    Cash flows from investing activities    
    Expenditures for property, plant, and equipment   (10,199 )   (5,266 )
    Purchases of available-for-sale securities   (1,203 )   (1,110 )
    Proceeds from government incentives   1,294     267  
    Proceeds from maturities and sales of available-for-sale securities   1,249     1,433  
    Other   (30 )   (35 )
    Net cash used for investing activities   (8,889 )   (4,711 )
         
    Cash flows from financing activities    
    Proceeds from issuance of debt   4,430     999  
    Repayments of debt   (3,604 )   (1,816 )
    Payments of dividends to shareholders   (392 )   (384 )
    Payments on equipment purchase contracts   —     (127 )
    Other   (220 )   (40 )
    Net cash provided by (used for) financing activities   214     (1,368 )
         
    Effect of changes in currency exchange rates on cash, cash equivalents, and restricted cash   (3 )   (15 )
         
    Net increase (decrease) in cash, cash equivalents, and restricted cash   3,117     (992 )
    Cash, cash equivalents, and restricted cash at beginning of period   7,052     8,656  
    Cash, cash equivalents, and restricted cash at end of period $ 10,169   $ 7,664  
    MICRON TECHNOLOGY, INC.
    RECONCILIATION OF GAAP TO NON-GAAP MEASURES
    (In millions, except per share amounts)
     
      3rd Qtr. 2nd Qtr. 3rd Qtr.
      May 29,
    2025    		 February 27,
    2025    		 May 30,
    2024
           
    GAAP gross margin $ 3,508   $ 2,963   $ 1,832  
    Stock-based compensation   115     89     80  
    Other   —     1     5  
    Non-GAAP gross margin $ 3,623   $ 3,053   $ 1,917  
           
    GAAP operating expenses $ 1,339   $ 1,190   $ 1,113  
    Stock-based compensation   (148 )   (144 )   (137 )
    Patent license charges   (57 )   —     —  
    Other   (1 )   —     —  
    Non-GAAP operating expenses $ 1,133   $ 1,046   $ 976  
           
    GAAP operating income $ 2,169   $ 1,773   $ 719  
    Stock-based compensation   263     233     217  
    Patent license charges   57     —     —  
    Other   1     1     5  
    Non-GAAP operating income $ 2,490   $ 2,007   $ 941  
           
    GAAP net income $ 1,885   $ 1,583   $ 332  
    Stock-based compensation   263     233     217  
    Patent license charges   57     —     —  
    Loss on debt prepayments   46     4     —  
    Other   1     —     3  
    Estimated tax effects of above and other tax adjustments   (71 )   (37 )   150  
    Non-GAAP net income $ 2,181   $ 1,783   $ 702  
           
    GAAP weighted-average common shares outstanding – Diluted   1,125     1,123     1,123  
    Adjustment for stock-based compensation   19     20     13  
    Non-GAAP weighted-average common shares outstanding – Diluted   1,144     1,143     1,136  
           
    GAAP diluted earnings per share $ 1.68   $ 1.41   $ 0.30  
    Effects of the above adjustments   0.23     0.15     0.32  
    Non-GAAP diluted earnings per share $ 1.91   $ 1.56   $ 0.62  
    RECONCILIATION OF GAAP TO NON-GAAP MEASURES, Continued
     
      3rd Qtr. 2nd Qtr. 3rd Qtr.
      May 29,
    2025    		 February 27,
    2025    		 May 30,
    2024
           
    GAAP net cash provided by operating activities $ 4,609   $ 3,942   $ 2,482  
           
    Expenditures for property, plant, and equipment   (2,938 )   (4,055 )   (2,086 )
    Payments on equipment purchase contracts   —     —     (45 )
    Proceeds from sales of property, plant, and equipment   12     7     41  
    Proceeds from government incentives   266     963     33  
    Investments in capital expenditures, net   (2,660 )   (3,085 )   (2,057 )
    Adjusted free cash flow $ 1,949   $ 857   $ 425  
     

    The tables above reconcile GAAP to non-GAAP measures of gross margin, operating expenses, operating income, net income, diluted shares, diluted earnings per share, and adjusted free cash flow. The non-GAAP adjustments above may or may not be infrequent or nonrecurring in nature but are a result of periodic or non-core operating activities. We believe this non-GAAP information is helpful in understanding trends and in analyzing our operating results and earnings. We are providing this information to investors to assist in performing analysis of our operating results. When evaluating performance and making decisions on how to allocate our resources, management uses this non-GAAP information and believes investors should have access to similar data when making their investment decisions. We believe these non-GAAP financial measures increase transparency by providing investors with useful supplemental information about the financial performance of our business, enabling enhanced comparison of our operating results between periods and with peer companies. The presentation of these adjusted amounts varies from amounts presented in accordance with U.S. GAAP and therefore may not be comparable to amounts reported by other companies. Our management excludes the following items as applicable in analyzing our operating results and understanding trends in our earnings:

    • Stock-based compensation;
    • Gains and losses from settlements;
    • Gains and losses from debt prepayments;
    • Restructure and asset impairments; and
    • The estimated tax effects of above, non-cash changes in net deferred income taxes, assessments of tax exposures, certain tax matters related to prior fiscal periods, and significant changes in tax law. The divergence between our GAAP and non-GAAP income tax provision relates to the difference in our GAAP and non-GAAP estimated annual effective tax rates, which are computed separately.

    Non-GAAP diluted shares are adjusted for the impact of additional shares resulting from the exclusion of stock-based compensation from non-GAAP income.

    MICRON TECHNOLOGY, INC.
    RECONCILIATION OF GAAP TO NON-GAAP OUTLOOK
     
    FQ4-25   GAAP Outlook   Adjustments   Non-GAAP Outlook
                   
    Revenue $10.7 billion ± $300 million   —       $10.7 billion ± $300 million
    Gross margin 41.0% ± 1.0%   1.0%   A   42.0% ± 1.0%
    Operating expenses $1.35 billion ± $20 million   $147 million   B   $1.20 billion ± $20 million
    Diluted earnings per share(1) $2.29 ± $0.15   $0.21   A, B, C   $2.50 ± $0.15
    Non-GAAP Adjustments
    (in millions)    		            
                   
    A Stock-based compensation – cost of goods sold   $ 119  
    B Stock-based compensation – research and development     93  
    B Stock-based compensation – sales, general, and administrative     54  
    C Tax effects of the above items and other tax adjustments     (27 )
                  $ 239  
    (1) GAAP earnings per share based on approximately 1.13 billion diluted shares and non-GAAP earnings per share based on approximately 1.15 billion diluted shares.
       

    The tables above reconcile our GAAP to non-GAAP guidance based on the current outlook. The guidance does not incorporate the impact of any potential business combinations, divestitures, additional restructuring activities, balance sheet valuation adjustments, strategic investments, financing transactions, and other significant transactions. The timing and impact of such items are dependent on future events that may be uncertain or outside of our control.

    The MIL Network –

  • MIL-Evening Report: New climate reporting rules start on July 1. Many companies are not ready for the change

    Source: The Conversation (Au and NZ) – By Rachel Baird, Senior Lecturer , University of Tasmania

    PaeGAG/Shutterstock

    A new financial year starts on July 1. For Australia’s large companies, that means new rules on climate-related disclosures come into force.

    These requirements are the culmination of years of planning to ensure companies disclose climate-related risks and opportunities for their business. The Albanese government passed the legislation in September 2024.

    To be clear, the time to prepare is gone. From July 1, large public companies and financial institutions must gather significant amounts of information and data to include in a new year-end sustainability report. Collecting all this information is one challenge; another is finding the specialists across many fields to compile the reports.

    This is a huge change for corporate Australia. It is a whole new reporting regime, supported by volumes of technical detail. Directors will need to sign off on the report. Investors must also upskill to make sense of the disclosures. Neither of these outcomes is assured.

    And it is not clear the increased disclosures will do anything to reduce actual emissions.

    Climate impacts in focus

    Though it’s called a sustainability report, in reality it is very much focused on climate-related disclosures. If you go looking for wider sustainability matters such as social impact, environmental performance and ethical choices, you will be disappointed.

    Markets and ultimately the millions of Australians who hold shares will be watching to find out if:

    1. Corporate Australia is prepared for the transition to this new regulatory regime

    2. End users of the new reports are equipped to decipher and understand the huge amount of additional data.

    My research suggests the answer to both questions is a resounding no.

    Starting with the big end of town

    The government has wisely adopted a three-year transition for the new reporting regime, with only the big end of town facing the music this year. Think the big four banks, big supermarkets and large miners.

    Some large corporations have been publishing sustainability reports for years. National Australia Bank, for example, published its first one in 2017.

    Over the next two years, medium and then smaller companies will join the fold. By 2027–28, companies will be required to report if they meet two of three thresholds: consolidated revenue of A$50 million, or consolidated gross assets of $25 million, or more than 100 employees.

    The reasoning behind the transition is they have the benefit of watching how the larger companies adapt to the new laws.

    What has to be disclosed?

    Reporting entities must include:

    – climate statements for the year plus any notes, and

    – the directors’ declaration about these statements and notes

    This sounds rather simple and straightforward, but it is not.

    Arriving at a completed sustainability report involves an understanding of two detailed documents: the international standards and a new Australian Accounting Sustainability Standard.

    The Australian standards are mandatory and based on the international rules. In broad terms, companies will be required to gather and disclose information on many micro-level issues, which are grouped into four categories. These are: governance, strategy, risk management, and metrics and targets.

    Some issues will straddle all four categories.

    For example, the physical risk of climate change (floods, uninsurable properties, supply chain disruption) can be considered at the board level and in dedicated climate committees (goverance); in planning for alternative supply chains in a climate transition plan (strategy); in risk assessment (risk management) and in data prediction of the costs involved (metrics and targets).

    The big challenge for corporate Australia is that the people, expertise and time required to deliver a sustainability report are in short supply.

    More than a quarter of ASX 200 companies do not use the international standards. This means they are not positioned to adapt to the new reporting regime. Even for those that have been early adopters, there has been selective use of the four categories.

    For the smaller companies that will follow the first reporting year, the stakes are high.

    More information is not always better

    The amount of new information (much of it technical) to be disclosed will be overwhelming for the producers of the sustainability reports – and for the readers, whether they are institutional or mum-and-dad investors.

    The cost of collecting and making sense of the data required to meet detailed reporting requirements will lead to many companies being swamped in data. More data collected does not equal better data.

    Deciding what data to collect and then making sense of it so it supports disclosures will be a major headache for most companies.

    The new climate disclosure rules will have a profound impact on corporate Australia. There is a significant gap in capacity and capability to meet the requirements of the new reporting regime. And there is a corresponding need to educate the readers of these new reports to make effective use of the disclosed information.

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

    – ref. New climate reporting rules start on July 1. Many companies are not ready for the change – https://theconversation.com/new-climate-reporting-rules-start-on-july-1-many-companies-are-not-ready-for-the-change-258706

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Global: What is reconciliation − the legislative shortcut Republicans are using to push through their ‘Big Beautiful Bill’?

    Source: The Conversation – USA – By Linda J. Bilmes, Daniel Patrick Moynihan Senior Lecturer in Public Policy and Public Finance, Harvard Kennedy School

    Senate Majority Leader John Thune speaks with reporters about the reconciliation process to advance President Donald Trump’s spending and tax bill on June 3, 2025. AP Photo/J. Scott Applewhite

    The word “reconciliation” sounds benign, even harmonious.

    But in Washington, D.C., reconciliation refers to a potent legislative shortcut that allows the party in power to avoid opposition and enact sweeping changes to taxes and spending with a simple majority vote. Democrats used the process to pass the Inflation Reduction Act in 2022. Reconciliation helped Republicans pass large tax cuts in 2017.

    Reconciliation is also at the heart of the current budget debate, as Senate Republicans rush to advance their version of the “One Big Beautiful Bill Act,” also known by its acronym OBBBA, which passed the House in May 2025.

    I served as assistant secretary of Commerce for management and budget during the Clinton administration, when my colleagues and I helped forge bipartisan legislation that balanced the federal budget and produced surpluses over four years, from 1998 to 2001. We were even able to pay off some debt.

    But since 2001, the country’s fiscal situation has deteriorated significantly. And the reconciliation process has strayed from its original purpose as a mechanism to promote sound fiscal policy. Instead, it is now used to pass partisan legislation, often without regard to its economic impact on future generations of Americans.

    Reconciliation 101

    The reconciliation process was created by the Congressional Budget Act of 1974, which was overwhelmingly supported by both parties. It was designed to align policy goals with budget targets to help rein in deficits.

    The rules specify that a bill using the reconciliation process must pertain directly to budgetary or fiscal matters, cannot change Social Security, Medicare or the budget process itself, or deliberately extend deficits beyond a 10-year window. As part of the process, the parliamentarian goes through each element of the bill and determines whether it meets the requirements, removing any that don’t.

    In the Senate, reconciliation has special procedural advantages. Debate is limited to 20 hours. Conveniently for the party in power, the final bill can pass with a simple majority of 51 votes. This avoids the usual 60-vote threshold needed to overcome a filibuster.

    Over its 50-year history, 23 reconciliation bills have become law.

    Reconciliation on rise as budget process breaks down

    Over time, reconciliation has become the dominant method for enacting major tax and spending legislation, as the regular congressional budget process has broken down.

    Since 1974, there have been multiple government shutdowns, near-shutdowns and short-term, stopgap “continual resolutions” instead of annual budgets, accompanied by rising deficits and national debt.

    With few other tools at its disposal, Congress has used reconciliation to push through many pieces of major economic legislation, including the 2001 and 2003 tax cuts under President George W. Bush, the 2017 tax cuts during President Donald Trump’s first term, and the American Rescue Plan in 2021 and the Inflation Reduction Act in 2022 during the Biden administration.

    However, reconciliation has significant flaws. Because debate is limited, senators often vote on bills over 1,000 pages long with little time to review the details. And once tax cuts are enacted under reconciliation, it is devilishly hard to get rid of them.

    Given the compressed timelines and lack of transparency inherent in such huge, messy spending bills, it is fairly easy for lawmakers to slip in earmarks, tax loopholes and other extraneous items that that don’t get removed by the parliamentarian.

    House Minority Leader Hakeem Jeffries argues Republicans’ spending and tax bill will ‘explode the deficit.’
    AP Photo/J. Scott Applewhite

    What’s in the bill?

    At the heart of the One Big Beautiful Bill Act, passed by the House, is an extension of President Trump’s tax cuts from his first term, which would otherwise expire at the end of 2025, according to the procedural rules for reconciliation.

    But it also includes multiple new tax cuts – such as an end to taxes on overtime and tips and lower estate taxes – introduces new Medicaid work requirements and repeals various energy credits. In line with the Trump administration’s policies, the bill slashes federal funding for education, Medicaid, public housing, environmental programs, scientific research and some national park and public land protection programs. It also boosts defense spending.

    The bill would sharply worsen the nation’s fiscal outlook, according to analyses by the nonpartisan Congressional Budget Office and other organizations.

    Currently, the national debt exceeds US$36 trillion, according to the U.S. Treasury, and net interest payments account for some 16% of federal revenue, based on the Congressional Budget Office’s projections for 2025.

    In its analysis, the Congressional Budget Office – which was also created by the 1974 act – said the House-passed version would increase deficits by more than $3.1 trillion over the next decade. The overwhelming share of this cost comes from the permanent extension of individual tax cuts initially enacted in 2017.

    According to the Congressional Budget Office’s analysis, by 2035 households earning at least $1 million would receive an average annual tax cut of about $45,000. Most middle- and lower-income households would receive a cut of less than $500 per year, if anything.

    The costs of reconciliation

    A number of Senate Republicans have questioned some aspects of the reconciliation package. Since they hold only a 53-47 majority, and with all Democrats expected to vote “no,” they need to use reconciliation to pass their version.

    Although it differs from the House version in many ways, the Senate version still favors tax cuts for high-income households and large corporations.

    Senate Republicans also employ a flawed accounting gimmick to minimize its apparent cost. It assumes the 2017 Trump tax cuts, which are set to expire, have already been extended and embeds that assumption into the budget baseline.

    This makes extending the tax cuts appear costless, even though it would grow the debt substantially. The move violates normal scorekeeping conventions and misleads the public. Honest accounting would show that the Senate plan would add to the debt about $500 billion more than the House version.

    Abusing the process

    Lots of wrangling and changes are expected before the Senate is able to pass its version. After that, the House and Senate will need to resolve their differences in a conference committee of Republicans from each house of Congress.

    Once they agree on a final version, each house votes again – and the Senate version will still need to meet the terms of reconciliation in order to pass with a majority vote. President Trump is pressuring Congress to deliver the bill to his desk before he goes on July Fourth vacation.

    In my view, while reconciliation remains a powerful budgetary tool, its current use represents a fundamental inversion of its original purpose. Americans deserve an honest debate about trade-offs, rather than more debt in disguise. Some estimates of the fiscal impact of the Senate’s version of the bill are as high as $3.8 trillion over a decade. Simply waving a magic accounting wand won’t make them go away.

    Linda J. Bilmes served as Deputy Assistant Secretary of the US Department of Commerce from 1997-1998 and as CFO and Assistant Secretary for Management, Budget and Administration from 1999-2001.

    – ref. What is reconciliation − the legislative shortcut Republicans are using to push through their ‘Big Beautiful Bill’? – https://theconversation.com/what-is-reconciliation-the-legislative-shortcut-republicans-are-using-to-push-through-their-big-beautiful-bill-255487

    MIL OSI – Global Reports –