NewzIntel.com

Category: Economy

  • MIL-OSI USA: Attorney General James Sues TikTok for Harming Children’s Mental Health

    Source: US State of New York

    NEW YORK – New York Attorney General Letitia James and California Attorney General Rob Bonta today co-led a bipartisan coalition of 14 attorneys general in filing lawsuits against the social media platform TikTok for misleading the public about the safety of its platform and harming young people’s mental health. The lawsuits, filed individually by each member of the coalition, allege that TikTok violated state laws by falsely claiming its platform is safe for young people. In fact, many young users are struggling with poor mental health and body image issues due to the platform’s addictive features and are getting injured, hospitalized, or dying because of dangerous TikTok “challenges” that are created and promoted on the platform. Attorney General James and the bipartisan coalition of attorneys general are seeking to stop TikTok’s harmful practices and impose financial penalties on the social media company. 

    “Young people are struggling with their mental health because of addictive social media platforms like TikTok,” said Attorney General James. “TikTok claims that their platform is safe for young people, but that is far from true. In New York and across the country, young people have died or gotten injured doing dangerous TikTok challenges and many more are feeling more sad, anxious, and depressed because of TikTok’s addictive features. Today, we are suing TikTok to protect young people and help combat the nationwide youth mental health crisis. Kids and families across the country are desperate for help to address this crisis, and we are doing everything in our power to protect them.” 

    “Our investigation has revealed that TikTok cultivates social media addiction to boost corporate profits. TikTok intentionally targets children because they know kids do not yet have the defenses or capacity to create healthy boundaries around addictive content,” said California Attorney General Rob Bonta. “When we look at the youth mental health crisis and the revenue machine TikTok has created, fueled by the time and attention of our young people, it’s devastatingly obvious: our children and teens never stood a chance against these social media behemoths. TikTok must be held accountable for the harms it created in taking away the time — and childhoods — of American children.”

    According to the lawsuits filed by Attorney General James and the bipartisan coalition, TikTok’s underlying business model focuses on maximizing young users’ time on the platform so the company can boost revenue from selling targeted ads. TikTok uses an addictive content-recommendation system designed to keep minors on the platform as long as possible and as often as possible, despite the dangers of compulsive use.

    TikTok’s Addictive Features Worsen Young Users’ Mental Health

    TikTok uses a variety of addictive features to keep users on its platform longer, which leads to poorer mental health outcomes. Multiple studies have found a link between excessive social media use, poor sleep quality, and poor mental health among young people. According to the U.S. Surgeon General, young people who spend more than three hours per day on social media face double the risk of experiencing poor mental health outcomes, including symptoms of depression and anxiety. 

    Some of these addictive features include: 

    • Around-the-clock notifications that can lead to poor sleep patterns for young users; 
    • Autoplay of an endless stream of videos that manipulates users into compulsively spending more time on the platform with no option to disable Autoplay;
    • Attention-grabbing content that keeps young users on the platform longer;
    • TikTok “stories” and TikTok live content that is only available temporarily to entice users to tune in immediately or lose the opportunity to interact;
    • A highlighted “likes” and comments section as a form of social validation, which can impact young users’ self-esteem; and
    • Beauty filters that alter one’s appearance and can lower young user’s self-esteem. 

    Beauty filters have been especially harmful to young girls, with studies reporting that 50 percent of girls believe they do not look good without editing their features and 77 percent saying they try to change or hide at least one part of their body using these filters. Beauty filters can cause body image issues and encourage eating disorders, body dysmorphia, and other health-related problems.  

    TikTok Challenges Lead to Dangerous Outcomes

    TikTok challenges are viral videos that encourage users to perform certain activities, some of which have been harmful and sometimes deadly for young users. 

    In one example, a 15-year-old boy died in Manhattan while “subway surfing,” a trend where people ride or “surf” on top of a moving subway car. After he passed away, his mother found videos on his TikTok account about subway surfing. 

    Another example of a dangerous TikTok challenge is the Kia Challenge, videos that show users how to hack the ignition to start and steal Kia and Hyundai car models, which has led to thousands of car thefts. In October 2022, four teenagers were killed in a car crash in Buffalo that police suspect was the result of the TikTok Kia Challenge. A Kia Forte was also stolen in New York City and crashed into a house in Greenwich causing significant damage to both the car and the residence. The ignition was damaged consistent with descriptions in the TikTok Kia Challenge.

    TikTok Profits from Children’s Data

    TikTok also violates the Children’s Online Privacy Protection Act (COPPA), a federal law designed to protect children’s data on the internet. TikTok actively collects and monetizes data on users under 13 years old, in violation of COPPA, and does so without parental consent. Researchers estimate that 35 percent of TikTok’s U.S. ad revenue is derived from children and teenagers. While TikTok claims to only allow users over age 13 to access all of its features, TikTok’s deficient policies and practices have knowingly permitted children under the age of 13 to create and maintain accounts on the platform.

    TikTok Falsely Claims Effectiveness of Safety Tools

    TikTok falsely claims that its platform is safe for young users and has misrepresented the effectiveness of its so-called safety tools that are intended to address some of these concerns. Attorney General James’ lawsuit alleges that TikTok also violated New York’s consumer protection laws by misrepresenting its safety measures, including: 

    • Misleading users about its 60-minute screen time limit that it adopted to address concerns of compulsive use of its platform. TikTok deceptively advertised that teens can have a 60-minute screen time limit on the app. However, after using TikTok for 60 minutes, teens are simply prompted to enter a passcode to continue watching videos.  
    • Mispresenting the effectiveness of its “Refresh” and “Restricted Mode” features. TikTok claims that users can “Refresh” the content the recommendation system feeds them and that they can limit inappropriate content through “Restricted Mode.” However, those features do not work as TikTok claims. 
    • Failing to warn young users about the dangers of its beauty filter. 
    • Misrepresenting that its platform is not directed toward children. TikTok publicly claims that it is not for children under 13, however, the platform features child-directed subject matter, characters, activities, music, and other content, as well as advertisements directed to children.

    Through these lawsuits, Attorney General James and the bipartisan coalition of attorneys general are using state laws to stop TikTok from using these harmful and exploitative tactics. In addition, the lawsuits seek to impose financial penalties, including disgorgement of all profits resulting from the fraudulent and illegal practices, and to collect damages for users that have been harmed. 

    Joining Attorney General James and California Attorney General Bonta in filing today’s lawsuit are the attorneys general of Illinois, Kentucky, Louisiana, Massachusetts, Mississippi, New Jersey, North Carolina, Oregon, South Carolina, Vermont, Washington, and the District of Columbia. Each attorney general filed in their own state jurisdiction.

    Today’s lawsuit is Attorney General James’ latest effort to hold social media companies accountable and protect children online. In September 2024, Attorney General James co-led a bipartisan coalition of 42 attorneys general in urging Congress to implement warning labels on social media platforms as called for by the United States Surgeon General. In June 2024, nation-leading legislation advanced by Attorney General James to combat addictive social media feeds and protect kids online was signed into law in New York. In March 2024, Attorney General James led a bipartisan coalition of 41 attorneys general in urging Meta to address the rise of Facebook and Instagram account takeovers by scammers and frauds. In December 2023, Attorney General James led a coalition of 22 attorneys general urging the U.S. Supreme Court to make it clear that states have the authority to regulate social media platforms. In October 2023, Attorney General James and a bipartisan coalition of 32 attorneys general filed a federal lawsuit against Meta for harming young people’s mental health and contributing to the youth mental health crisis.

    For New York, this case is being handled by Senior Enforcement Counsel Kevin Wallace and Assistant Attorney General Alex Finkelstein of the Executive Bureau; Assistant Attorney General Nathaniel Kosslyn, Assistant Attorney General Laura Mumm, and Assistant Attorney General Fellow Anushua Choudhury of the Bureau of Internet and Technology, under the supervision of Deputy Bureau Chief Clark Russell and Bureau Chief Kim A. Berger. The Bureau of Internet and Technology is a part of the Division for Economic Justice, which is led by Chief Deputy Attorney General Chris D’Angelo and overseen by First Deputy Attorney General Jennifer Levy.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Christmas Village to Transform City Square

    Source: Scotland – City of Dundee

    Dundee’s Christmas is launching for the first time in 2024 with a new operator NL Productions in partnership with Dundee City Council. 

    NL Production is delighted to have been awarded the contract to deliver Dundee’s Christmas Village for this festive season in 2024/25 and potentially the next two years. 

    The event will transform City Square into a vibrant Christmas hub, in front of the Caird Hall, complete with an ice rink, Christmas Market, Santa Experience, and festive funfair, promising a magical experience for visitors and locals alike. 

    The event will commence on the 21st November 2024 and run for six weeks until the 5th January 2024 with a strong focus on community engagement and local economic benefits. NL Productions is excited to create an inclusive festive village that showcases Dundee’s rich cultural heritage and supports local businesses. 

    A Festive Extravaganza for All Ages, Dundee’s Christmas Village will feature a host of festive attractions: 

    A 20m x 10m real ice rink, perfect for families, couples, and friends to enjoy. 

    A Christmas Market featuring local vendors offering unique gifts and festive treats. 

    An immersive Santa Experience, where children can journey to the North Pole to meet Santa himself. 

    A funfair with exciting rides for all ages. 

    Stunning festive lighting and decorations that will transform City Square into a winter wonderland. 

    Jonathan Brown, Event Producer at NL Productions, said: “Our goal is to deliver a Christmas Village that the people of Dundee can be proud of. We’re dedicated to creating an event that blends tradition with innovation, offering festive fun for everyone, while also contributing to the city’s economy and community spirit.” 

    Lord Provost of Dundee Bill Campbell said: “Christmas in Dundee has always been a time for bringing people together, and this year’s Christmas Village will do just that. 

    “I’m sure this event will be a fantastic addition to the city’s Christmas calendar, drawing families and visitors alike. Not only will it bring joy to the community, but will also benefit local businesses and help make Dundee one of the top places in Scotland to celebrate a family Christmas.” 

    “I look forward to seeing City Square transformed and hearing lots of happy voices outside my office window.” 

    In line with Dundee’s sustainability goals, NL Productions is committed to reducing the environmental impact of the Christmas Village. By using eco-friendly materials and promoting waste reduction, the event will support Dundee’s vision for a greener future. 

    The inclusion of local vendors and businesses further demonstrates NL Productions’ commitment to supporting the local economy. By creating a space where community members can showcase their talents and products, the event will provide a meaningful boost to local trade and foster community pride. 

    Call for Vendors: Join Dundee’s Christmas Market 2024/25 

    NL Productions is calling on local traders, catering providers, and bar operators to be part of this year’s Christmas Market. The event offers an excellent opportunity for vendors to showcase their goods and services to thousands of visitors over the six-week period. Local enterprises are encouraged to get involved and bring their unique products to Dundee’s festive celebration. Interested businesses can email hello@dundeeschristmas.co.uk for more information and application details. 

    Jonathan added: “We are excited to open up this opportunity to local businesses. Dundee’s Christmas Village is not just an event but a platform to support and celebrate the city’s diverse and thriving community. We believe in events that foster local connections, boost the local economy, and provide a space for small businesses to shine.” Vendors interested in being part of Dundee’s Christmas Market 2024/25 can apply by contacting NL Productions via hello@dundeeschristmas.co.uk. Don’t miss the chance to be part of this magical experience that brings joy to thousands and supports the local economy. 

    Dundee’s Christmas Opening Times & Tickets: 

    Opening Times: Operating hours Mon – Wed Noon-9pm, Thur-Fri Noon-10pm, Sat-Sun 10am-10pm 

    Tickets – Visit dundeeschristmas.co.uk

    MIL OSI United Kingdom –

  • MIL-OSI USA: Rubio, Scott to POTUS: Prepare for Hurricane Impacts to Port of Tampa Bay

    US Senate News:

    Source: United States Senator for Florida Marco Rubio

    Rubio, Scott to POTUS: Prepare for Hurricane Impacts to Port of Tampa Bay
    Oct 7, 2024 | Press Releases

    Major Hurricane Milton is forecasted to potentially hinder or obstruct the Port of Tampa Bay, which receives more than 40 percent of Florida’s petroleum products. It’s crucial for the federal government to expedite all requested measures to protect Florida’s economy and to ensure a swift recovery. 
    U.S. Senators Marco Rubio (R-FL) and Rick Scott (R-FL) sent a letter to President Joe Biden urging the direction of federal agencies to expedite plans to respond to this potential obstruction. 
    “​With Hurricane Milton bearing down on Florida’s Gulf Coast, we request you direct federal agencies to expedite plans to respond to potential impediments or destruction of the Port of Tampa Bay and its associated federal channel. Long-term disruptions to the port would not only hinder disaster response and recovery, but have lasting consequences for Florida’s economy.” 
    The full text of the letter is below. 
    Dear Mr. President:
    ​With Hurricane Milton bearing down on Florida’s Gulf Coast, we request you direct federal agencies to expedite plans to respond to potential impediments or destruction of the Port of Tampa Bay and its associated federal channel.  Long-term disruptions to the port would not only hinder disaster response and recovery, but have lasting consequences for Florida’s economy. 
    ​As you may know, more than 40 percent of the volume of petroleum products consumed in Florida, including gasoline, diesel, and jet fuel, arrive through the Port of Tampa Bay, serving communities along the Gulf Coast and the I-4 Corridor. The port is also a major thoroughfare for aggregates and other construction materials that would be necessary for recovery and rebuilding efforts post-Hurricanes Helene and Milton. Due to the port’s location in Tampa Bay, the total length of the federal channels is approximately 70 miles, including portions that extend from the bay to beyond the barrier islands at the mouth of Tampa Bay.  This reality makes the channel susceptible to sand shoaling in normal conditions, but in severe hurricane conditions the port and channel could be otherwise obstructed by sediment and other storm debris.  The port’s location could also result in some of the most severe storm surge from Hurricane Milton impacting onshore facilities, including petroleum infrastructure.  Any extended disruptions to navigability of the federal or the operability of onshore petroleum infrastructure would have dire long-term consequences for the recovery of communities impacted by Helene and Milton as well as the Florida economy as a whole. Disruptions to the port would drive price increases and shortages of petroleum-based fuel products that could economically harm millions of Floridians.  
    ​To stave off long-term economic consequences that could be caused by impediments to navigation or the destruction of petroleum infrastructure at the Port of Tampa Bay, we urge you to expedite the finalization of plans to:
    Ensure U.S. Coast Guard and U.S. Army Corps of Engineers assets are in place to assess the federal channel for sediment shoaling and debris immediately following the storm;
    If needed, prepare to mobilize the Army Corps of Engineers for emergency dredging and construction operations to remove sediment from the federal channel and assist port tenants in rehabilitating onshore petroleum infrastructure as quickly as possible using natural disaster response emergency authorities; and
    Utilize waivers, as appropriate, to facilitate interstate deliveries of petroleum fuel products via truck, rail, and maritime modes of transportation.
    In the event that a worst case scenario occurs due to Hurricane Milton, preparation to accomplish these actions prior to landfall will aid in recovery.
    Thank you for your attention to this important matter.
    Sincerely,

    MIL OSI USA News –

  • MIL-OSI United Kingdom: City leaders unite to lobby the Government for housing investment

    Source: City of Plymouth

    The three Plymouth MPs, along with the Council Leader, have come together to lobby the Government for additional funding for much needed housing in the city.  

    MP’s Rebecca Smith, Luke Pollard and Fred Thomas along with Council Leader Tudor Evans and Chief Executive of the Council Tracey Lee pictured with Matthew Pennycook MP

    With more than 7,000 households in this city on the housing register, the need massively outweighs the supply. As the city continues to grow and with thousands of new jobs being created in the next few years, including new jobs at the Plymouth and South Devon Freeport and the expanded Devonport naval base, it is expected that even more people will need a home.  

    Whilst Plymouth is one of 20 areas in the UK that is considered a ‘priority’ by Homes England, investment is needed to ensure that plans to push forward the city’s plans for housing can be delivered. In particular, plans to increase the number of new homes in the city centre.  

    Following a question raised in the House of Commons by South West Devon MP Rebecca Smith, Matthew Pennycook MP (Minister of State for Housing, Communities and Local Government), agreed to meet with the three local MPs, Rebecca Smith, Luke Pollard and Fred Thomas along with Council Leader Tudor Evans, to discuss the national effort required to deliver the housing needed. 

    Together, they discussed the growth of the city, the local housing picture and appealed to the Government for additional support.  

    Councillor Evans said: “Over the past nine years, we have delivered more than 7,500 new homes across the city, but we know that won’t be enough. With huge amount of planned investment in our city, particularly at Devonport, we need to make sure we have enough people to fill the jobs and we have the right local infrastructure to support this growth. 

    “Together with our three MPs, we stand united, lobbying the Government for more money for housing, transport, and making sure that local people have the right skills to be able to apply for the jobs available.” 

    Luke Pollard, MP for Plymouth, Sutton and Devonport, said: “As the MP for Devonport I have been campaigning for Plymouth to get its fair share.  The opportunity to build 5500 homes in the city centre will provide jobs and homes for local people and will directly support the growth of our strategic industries, especially the Dockyard.” 

    Rebecca Smith, MP for South West Devon, added: “The £200 million investment in Dock 9, Devonport’s largest submarine dry dock, by the previous Government will accelerate Babcock’s maintenance of UK submarines. This will preserve Devonport’s vital role in maintaining our nation’s nuclear deterrent, creating new jobs and attracting even greater levels of investment. 

    “However, to ensure that this investment is an opportunity rather than a potential strain on our local economy we must ensure that the correct infrastructure is in place. Upskilling our local workforce, improving Plymouth’s housing supply and providing suitable railway links must all be considered. 

    “I thank the Minister of State for Housing, Communities and Local Government Matthew Pennycook for meeting with the Plymouth MPs and listening to my concerns. I look forward to working closely with the Minister to secure a more prosperous future for our Dockyard, Plymouth and the wider region.” 

    Fred Thomas, MP for Plymouth Moor View, added: “It is brilliant that Plymouth is growing. But we urgently need more housing to meet increased demand. It was great to meet together, cross-party, to raise this with the new Housing Minister. The new Government has been clear that it wants to get Britain building again, delivering 1.5 million more homes in the next five years. This must come together with investment in places like Plymouth and I will continue to work with the Government to make sure this happens”.

    MIL OSI United Kingdom –

  • MIL-OSI USA: Warner, Cassidy Introduce Legislation to Improve Customer Service for Taxpayers

    US Senate News:

    Source: United States Senator for Commonwealth of Virginia Mark R Warner

    WASHINGTON – U.S. Sens. Mark R. Warner (D-VA) and Dr. Bill Cassidy (R-LA) have introduced legislation to improve customer service at the Internal Revenue Service (IRS). Specifically, the Improving IRS Customer Service Act would expand information regarding refunds available to taxpayers online and require the IRS to inform taxpayers applying for installment agreements about available collection alternatives if they appear to have an economic hardship.

    “The IRS has been the source of massive headaches for taxpayers for years,” Sen. Warner said. “I am glad to introduce legislation that will ease some of this frustration by increasing clear communication and making IRS resources more readily available.”

    “It should be easy for taxpayers to get the information they need from the IRS. Not every interaction with them has to be miserable,” Dr. Cassidy said. “We can streamline the process and give Americans the transparency they expect.”

    Specifically, the legislation would:

    • Establish a dashboard to inform taxpayers of backlogs and wait times; 
    • Expand electronic access to information and refunds;
    • Expand callback technology and online accounts;
    • Inform individuals facing economic hardship of collection alternatives.

    Sen. Warner has been a tireless advocate for improving IRS customer service and accelerating return times. Sen. Warner strongly supported the Inflation Reduction Act — legislation that provides funding to modernize IRS systems and improve customer service when paying taxes. Investments from the IRA have ensured the IRS has the resources it needs to process tax returns quickly, get rebates to taxpayers faster, and address challenges Virginians have when filing taxes. With additional resources, IRS response rates this tax season have improved from answering two out of every 10 calls to answering nine out of every 10 calls.

    “By introducing the Improving IRS Customer Service Act, Senator Warner and Senator Cassidy have earned the gratitude of every taxpayer who’s ever had to contend with the IRS’s notoriously inconsistent customer service,” said Pete Sepp, President, National Taxpayers Union. “The sensible reforms in this bill, which include a wait-time dashboard, better access to refund information, customer callback technologies, and fairer measurement of IRS service levels, will all make a big difference in solving some of the more frustrating problems that taxpayers have encountered for years. More complete information on tax collection alternatives for taxpayers facing financial hardships will likewise give hope for many struggling families. This legislation is exactly the kind of guidance Congress needs to provide the IRS for a successful transformation of our entire system of tax administration. National Taxpayers Union is proud to endorse this innovative legislation, and we urge every lawmaker to actively work toward its passage in the remaining days of this Congress.”

    “The Virginia Society of CPAs is pleased to support this bipartisan legislation to aid with tax administration. Our members and their clients greatly appreciate the emphasis on streamlining the taxpayer and tax practitioner experience with the IRS,” said Virginia Society of CPAs President & CEO Stephanie Peters, CAE.

    “The AICPA strongly supports the legislative proposals outlined in S. 5280, which provide taxpayers and their tax advisors with clear and detailed information from the IRS in an intuitive and interactive format. Additionally, S. 5280 strives to protect the most economically vulnerable taxpayers by doing away with installment agreement fees and offering collection alternatives to those facing economic hardships. Collectively, these proposals will strengthen the public’s confidence in the tax administration system, and we thank Senators Warner and Cassidy for their leadership on this bipartisan bill,” said Melanie Lauridsen, Vice President of Tax Policy & Advocacy for the American Institute of CPAs.

    A copy of the bill text can be found here. 

    MIL OSI USA News –

  • MIL-OSI: Capgemini SE: Neutralization of the 2024 ESOP dilutive impact

    Source: GlobeNewswire (MIL-OSI)

    Media relations:
    Victoire Grux
    Tel.: +33 6 04 52 16 55
    victoire.grux@capgemini.com

    Investor relations:
    Vincent Biraud
    Tel.: +33 1 47 54 50 87
    vincent.biraud@capgemini.com

    Capgemini’s eleventh Employee Share Ownership Plan:
    share buyback to neutralize dilution

    Paris, October 8, 2024 – As part of its eleventh Employee Share Ownership Plan (ESOP), Capgemini is announcing the launch of a share buyback to neutralize the shareholder dilution associated with this plan.

    Capgemini will allocate in advance the proceeds of this eleventh ESOP plan – which takes the form of a capital increase reserved for employees – to the repurchase of existing shares. This share buyback operation is designed to neutralize the shareholder dilution resulting from the capital increase and will take place before December 19, 2024, the date on which the capital increase will become effective. On this date, employee shareholding will be increased by a maximum of 2.7 million shares (representing 1.56% of existing share capital), with no material impact on the Group’s cash position and no significant dilution of existing shareholders.

    On October 8, 2024, Capgemini SE entered into a share buyback agreement with an investment services provider, which is also the institution structuring the employee share ownership plan. Capgemini has thus undertaken to buy back its own shares, up to a limit of 2.7 million shares and 675 million euros, for the purpose of cancellation. The main terms and conditions of the share buyback agreement are detailed in the appendix to this press release.

    As a reminder, this share buyback transaction follows the announcement on September 11, 2024 of the launch of the eleventh ESOP plan and the decision by Capgemini SE’s Board of Directors to authorize a dedicated share buyback program. The terms of these two transactions fall within the scope of authorizations granted by the Shareholders’ Meeting of May 16, 2024.

    DISCLAIMER
    This press release may contain forward-looking statements. Such statements may include projections, estimates, assumptions, statements regarding plans, objectives, intentions and/or expectations with respect to future financial results, events, operations and services and product development, as well as statements, regarding future performance or events. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans”, “projects”, “may”, “would”, “should” or the negatives of these terms and similar expressions. Although Capgemini’s management currently believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking statements are subject to various risks and uncertainties (including, without limitation, risks identified in Capgemini’s Universal Registration Document available on Capgemini’s website), because they relate to future events and depend on future circumstances that may or may not occur and may be different from those anticipated, many of which are difficult to predict and generally beyond the control of Capgemini. Actual results and developments may differ materially from those expressed in, implied by or projected by forward-looking statements. Forward-looking statements are not intended to and do not give any assurances or comfort as to future events or results. Other than as required by applicable law, Capgemini does not undertake any obligation to update or revise any forward-looking statement.

    This press release does not contain or constitute an offer of securities for sale or an invitation or inducement to invest in securities in France, the United States or any other jurisdiction.

    ABOUT CAPGEMINI
    Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2023 global revenues of €22.5 billion.

    Get the Future You Want | http://www.capgemini.com

    * *

    *

    APPENDIX

    Main terms and conditions of the share buyback agreement

    Capgemini SE undertakes to buy back its own shares up to a limit of 2,700,000 shares and 675 000 000 euros, with a view to cancelling them. The price per share to be paid will be calculated based on the volume-weighted average daily share prices over a maximum period of 20 trading days starting on October 10, 2024, and corresponding to the period for setting the reference price of the shares to be issued under the new ESOP plan.

    Share buyback transactions by the investment services provider under this agreement will cease no later than November 6, 2024.

    Attachment

    The MIL Network –

  • MIL-OSI Global: Trad wives hearken back to an imagined past of white Christian womanhood

    Source: The Conversation – Canada – By Brandi Estey-Burtt, Fellow with the Centre for Interdisciplinary Research on Narrative; part-time lecturer in English Literature, St. Thomas University (Canada)

    As with many social media trends, trad wives have sparked debate and criticism about their content and who it is meant for. (Flickr/SportSuburban), CC BY

    If you’ve been on TikTok or Instagram recently, you’ve likely come across trad wives. The trend features videos of young women influencers showcasing their domestic lives as trad or “traditional” wives.

    The clips see them performing domestic activities that have traditionally been seen as the role of wives and mothers: taking care of the home, raising children, baking from scratch and even homesteading.

    As with many social media trends, #tradwife has sparked debate and criticism about the content and who it is meant for. There have been attempts to chart the origins and history of the trad wives, their nostalgia for the past and their highly estheticized content.

    There are connections to “momfluencers,” the “girl bosses” of the early 2010s and a general backlash against capitalism and the demands for feminized labour. However, there is an equally strong link to fundamentalist Christianity and concerns about white womanhood.

    As scrutiny grows, especially given the uproar caused by the recent profile of trad wife Hannah Neeleman, also known as Ballerina Farm, one other connection bears consideration: Christian romance fiction.

    Many of the characters of this genre of fiction display key qualities of trad wives.

    In recent decades, Christian evangelicals have used cultural tools such as fiction and now social media to romanticize the lifestyle of white, westernized femininity. The stories often contain an emphasis on restricted public and domestic roles for women based on narrow ideas of biblical womanhood. In this way, such characters can be viewed as cultural predecessors to the trad wives.

    Christian romance and purity

    Mostly marketed to women, the genre gained ground with the publication of Canadian author Janette Oke’s first historical romance novel in 1979. The market for such fiction rapidly expanded, and the genre developed as consumer appetite grew. For example, Amish and Mennonite sub-genres have become very popular since American novelist Beverly Lewis began publishing in the late 1990s.

    Though the genre of Christian romance fiction (or inspiration fiction as it is sometimes called) spans many different sub-genres and historical periods, it contains repeated themes about personal faith, sexual purity and heterosexual marriage. These themes encode gender and racial overtones within stories that focus predominantly on white women characters.

    The sexual norms of these stories are not surprising, given longstanding Christian evangelical interest in how religious and sexual purity are meshed together.

    Purity culture sets out highly prescriptive notions of sex, sexuality and gender roles. Scholars of religion such as Sara Moslener tie these norms directly to white Christian nationalist ideas of femininity. Religious notions of sexual purity become linked to racial purity through a concern for maintaining the integrity of the body of the white woman as well as the body of the nation against the threat of racialized others.

    It’s no surprise that both Christian romance fiction and trad wives are overwhelmingly white, and that a number of trad wives have been documented as possessing links to the far right.

    Romanticizing a mythical past

    Theology professor Emily McGowin has noted how the “tradwife trend looks to a mythic past where everyone knew their role.” Writer Kathryn Jezer-Morton points out that trad wives uphold a romanticized notion of the past that is actually a fantasy. They often wear outfits that look like they are from the 1950s or a previous colonial era, and there is no clear definition of what the “trad wife” label is.

    What and whose tradition are these fantasies representing? Certainly not all women, including many racialized and poor women who have never had the option of staying home. This nostalgic re-imagining of a very complex past whitewashes history and ignores how women had few legal or reproductive rights over their own bodies, finances or domestic lives.

    So, too, have Christian romances fantasized about different historical moments, often in American history. There is a decidedly white Christian supremacist undertone to many of these stories. They often reiterate the goodness of westward expansionism in North America and erase (or use as a plot device) the physical and cultural genocide of Indigenous peoples across the continent. This is also true of Oke’s work, which features “pioneer” (settler) narratives and romanticizes the RCMP, a problem that continues in television adaptations of her books.

    The Amish and Mennonite sub-genre further romanticizes what non-Amish and non-Mennonite authors portray as pre-modern (or even anti-modern) lifestyles. In these novels, there is little technology, an emphasis on agrarianism and homesteading, and hardly any physical contact among potential couples.

    As one reviewer who grew up Amish puts it, at times it feels like romance writers and readers “superimpose their values on the Amish.” In other words, many Christian romance novels offer feel-good fantasies about an imagined past. This fantasy has little basis in how women — especially women of colour and Indigenous women — experienced those historical periods.

    Like the social media accounts of trad wives, the sub-genre focuses on the aesthetics of a lifestyle rather than the very real legal, domestic, financial and racial implications of that life for women.

    Marketing romance — and tradition

    Romance fiction is often mocked as not being “serious” literature, but romance writers or readers are not necessarily passive or ignorant. Readers consume romances for a vast array of complex reasons, their faith or their relationships to romantic partners being only part of the mix.

    However, the Christian romance genre is a publishing and marketing phenomenon, one that has sold millions upon millions of copies across North America alone. These romance novels are sold not just in niche Christian bookstores but in big box stores — even grocery store check-outs.

    As Historian Daniel Silliman notes, the romance fiction genre was part of a larger Christian publishing boom that began in the 1950s in the United States. Fiction became an integral part of evangelical identity and an imagined community. It also played a crucial role in how evangelicals engaged with broader theological, cultural and political currents, though scholars question whether fiction shaped or reflected this engagement.

    Their concerns about cultural change — be it sexual, demographic, or otherwise — influence their fiction. Literature and religion professor Christopher Douglas makes the crucial point that evangelical Christians don’t just “get their knowledge primarily through fact sheets or decontextualized data, but rather through the power of narrative.”

    Christian romance fiction may not have caused the current iteration of trad wives, but its highly visible place in popular culture deserves greater scrutiny. These romance stories have contributed to ideas of westernized femininity that are notably white and decidedly constraining. They also provide romanticized visions of the past that lay a fictional groundwork for the appeal, and wide acceptance, that trad wives now enjoy on social media.

    Brandi Estey-Burtt 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. Trad wives hearken back to an imagined past of white Christian womanhood – https://theconversation.com/trad-wives-hearken-back-to-an-imagined-past-of-white-christian-womanhood-239999

    MIL OSI – Global Reports –

  • MIL-OSI: Ageas and BNP Paribas: Transparency notification

    Source: GlobeNewswire (MIL-OSI)

    Ageas and BNP Paribas: Transparency notification

    In accordance with the rules on financial transparency*, BNP Paribas has notified Ageas on 3 October 2024 that, on 3 October 2024, its interest has exceeded the legal threshold of 10% of the shares issued by Ageas. BNP Paribas’ current shareholding stands at 10,91%.

    Reason for the notification
    Acquisition or disposal of voting securities or voting rights

    Notification by
    A parent undertaking or a controlling person

    Persons subject to the notification requirement
    See annex 1a

    Date on which the threshold is crossed
    3 October 2024

    Threshold that is crossed (in %)
    10%

    Denominator
    187,971,187

    Notified details
    See annex 1 b

    Chain of controlled undertakings through which the holding is effectively held, if applicable
    The full chain of command can be found on https://www.ageas.com/investors/shareholders

    Additional information
    This transparency notification is intended to declare that BNP Paribas S.A. has crossed, on a consolidated basis, the 10% threshold upwards. This transparency notification is made in connection with the transaction announced by BNP Paribas S.A. and Fosun Group on April 14, 2024. The 3,473,271 shares (1.85%) in the capital of Ageas held by BNP Paribas Fortis SA/NV are pledged to the benefit of holders of the “CASHES” (bonds exchangeable for Ageas shares) as security for BNP Paribas Fortis SA/NV’s obligation to deliver such shares to holders of CASHES upon the exercise of their right of exchange against Ageas shares pursuant to the terms and conditions of such instruments. The voting rights associated with these Ageas shares are suspended. In accordance with Article 10, §4 of the Law of May 2, 2007 on the disclosure of major shareholdings in issuers whose shares are admitted to trading on a regulated market, voting rights held in trading books are not taken into account in this transparency notification.

    This press release and the notifications received by Ageas are available on the website.

    * article 14, paragraph 1 of the law of 2 May 2007 on disclosure of major holdings us provisions.

    Ageas is a listed international insurance Group with a heritage spanning 200 years. It offers Retail and Business customers Life and Non-Life insurance products designed to suit their specific needs, today and tomorrow, and is also engaged in reinsurance activities. As one of Europe’s larger insurance companies, Ageas concentrates its activities in Europe and Asia, which together make up the major part of the global insurance market. It operates successful insurance businesses in Belgium, the UK, Portugal, Türkiye, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia, Singapore, and the Philippines through a combination of wholly owned subsidiaries and long term partnerships with strong financial institutions and key distributors. Ageas ranks among the market leaders in the countries in which it operates. It represents a staff force of about 50,000 people and reported annual inflows of EUR 17.1 billion in 2023.

     Annexes can be found in pdf version.

    Attachment

    The MIL Network –

  • MIL-OSI USA: IAM is Here to Help Members Impacted by Hurricane Milton

    Source: US GOIAM Union

    As Hurricane Milton bears down on Florida’s Gulf Coast, the IAM is committed to providing immediate assistance and resources to its affected members.

    If you’re an IAM member and suffer property damage from the storm, you can apply for assistance from the IAM Disaster Relief Fund here.

    To address urgent needs, the IAM encourages its members impacted by the hurricane to apply for support through the IAM Disaster Relief Fund. This fund is specifically designed to provide assistance in times of natural disasters, helping members and their families navigate through hardships.

    Apply for assistance here.

    The IAM is ready to help!

    1. Contact your Local 
    2. A Territory Representative will contact you with more information
    3. Funds will be distributed to you based on a damage assessment 

    Click here for more information.

    Additionally, all IAM members can obtain confidential help through the IAM Employee/Member Assistance Program. Services include, but are not limited to, addictions, mental health, stress, depression, and financial hardship. You can reach the confidential IAM Assistance Helpline by calling 301-335-0735 or emailing iameap@iamaw.org.

    DONATE

    The IAM Disaster Relief Fund provides assistance in situations where our members and their families endure hardships due to natural disasters. 

    The IAM reacts quickly to these needs before other sources of assistance are available. This is not possible without the support of those who have committed to keeping the IAM Disaster Relief Fund vibrant and healthy.

    Make a contribution today through the IAM Disaster Relief Fund.

    The Disaster Relief Fund is able to provide immediate financial assistance to IAM members impacted by natural disasters. The IAM is often there before most monetary relief efforts can react.

    Donate Today! 

    Share and Follow:

    MIL OSI USA News –

  • MIL-OSI: Order.co Recognized in Spend Matters ‘50 Providers to Watch’ List

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 08, 2024 (GLOBE NEWSWIRE) — Order.co, a leading procurement and accounts payable automation software, today announced that it has been selected for Spend Matters ‘50 Providers to Watch’ list for the fifth consecutive year.

    Since its founding in 2016, Order.co’s commitment to streamlining procurement processes and enhancing efficiency has earned it consistent recognition from Spend Matters as a top innovator in the space.

    Spend Matters tracks some 1,500+ procurement and supply chain technology and services providers. Each year, its analysts evaluate market data to build an exclusive list recognizing fast-rising companies that develop innovative products in the market. While reviewing providers, Spend Matters was particularly impressed by Order.co’s ability to transform businesses’ purchasing and payment experiences through cutting-edge features.

    “Order.co integrates external purchasing content from any website or marketplace into a master catalog without requiring an API, helping SMEs manage and control spend centrally,” said Xavier Olivera, Lead Analyst at Spend Matters. “It also consolidates multiple invoices into one, streamlining accounts payable processes and reducing workload. This makes it an interesting solution for enhancing procurement and financial management.”

    Receiving this acknowledgment underscores Order.co’s ongoing commitment to saving businesses time and money through a revolutionary approach to procurement. “We are incredibly proud to be selected for Spend Matters ‘50 to Watch’ list for the fifth year in a row,” said Zach Garippa, CEO & Co-Founder of Order.co. “This continued acknowledgment is a reflection of our commitment to simplify buying for businesses and our unique approach to solving this problem. Through a combination of our single ecommerce storefront, AI, and powerful network effects, hundreds of companies are able to rely on us to predict and solve problems along their entire purchasing journey, while saving them time and money every step of the way.”

    About Order.co

    Order.co is a procurement and accounts payable automation software that helps businesses cut costs and complexity with every order. Hundreds of companies, like WeWork and Hugo Boss, leverage Order.co to centralize purchase-to-pay workflows, scale operations efficiently, gain total control over spending, and save an average of 5% on products.

    Founded in 2016 and headquartered in New York City, Order.co has raised $50M in funding from industry-leading investors like MIT, Stage 2 Capital, Rally Ventures, 645 Ventures, and more. To learn more, please visit https://www.order.co

    About Spend Matters

    Spend Matters is the leading solution intelligence source for procurement and supply chain professionals. Combining deep technology analysis and tailored advisory services with daily news coverage and subscription research, Spend Matters is trusted by CPOs, consultants, investors and solution providers alike as their procurement technology intelligence partner. Learn more at https://spendmatters.com/

    View the full “50 Providers to Watch” list here: https://spendmatters.com/procurement-tech-recognition/ 

    The MIL Network –

  • MIL-OSI Security: Lakeland Man Charged with 10 Counts of Bank Fraud

    Source: Federal Bureau of Investigation (FBI) State Crime News

    Tampa, Florida – United States Attorney Roger B. Handberg announces the return of an indictment charging Abraham Othman Yacoub (26, Lakeland) with 10 counts of bank fraud. Yacoub faces a maximum penalty of 30 years in federal prison on each count. The indictment also notifies Yacoub that the United States is seeking an order of forfeiture in the amount of $181,540.51, the proceeds of the charged criminal conduct.

    According to the indictment, from at least January 2021 until approximately February 2023, Yacoub made dozens of fraudulent deposits and withdrawals on behalf of his companies, Visionary Auto Body LLC, and Visionary Auto Care LLC, at financial institutions throughout the Middle District of Florida. Yacoub opened and maintained business bank accounts in the name of his companies and executed two primary fraud schemes.

    In the first scheme, Yacoub deposited the same previously deposited checks into various business banking accounts that he controlled at different financial institutions, knowing that the checks had previously been deposited and paid, causing the victim banks to credit his accounts for the amount of the check.

    In the second scheme, Yacoub drafted fraudulent business checks from closed business bank accounts and then deposit these checks into other active business banking accounts that he controlled, causing the banks to credit him with the amount of the fraudulent business check.

    Under both schemes Yacoub attempted to withdraw, transfer, or otherwise spend the funds credited to his accounts before the financial institution realized that the checks were fraudulent.

    Yacoub is currently in federal custody. On July 31, 2024, he was sentenced to three years and six months in federal prison for violating airport security requirements and attempted possession of a dangerous weapon on an aircraft after bringing a Glock 19 and assorted ammunition into Tampa International Airport.

    An indictment is merely a formal charge that a defendant has committed one or more violations of federal criminal law, and every defendant is presumed innocent unless, and until, proven guilty.

    This case was investigated by the Federal Bureau of Investigation. It will be prosecuted by Assistant United States Attorney Karyna Valdes.

    MIL Security OSI –

  • MIL-OSI Security: Former Los Angeles Deputy Mayor Sentenced to 12 Years in Prison for Racketeering Conspiracy That Corrupted City Real Estate Projects

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

    LOS ANGELES – A former deputy mayor and long-time Los Angeles city official was sentenced today to 144 months in federal prison for soliciting and accepting more than $750,000 in bribe money for himself and facilitating over $1 million in bribes from property developers to then-Los Angeles City Councilmember José Huizar as part of a long-running pay-to-play racketeering conspiracy at the highest levels of government in Los Angeles.

    Raymond She Wah Chan, 68, of Monterey Park, was sentenced by United States District Judge John F. Walter, who also ordered him to pay $752,457 in restitution to the City of Los Angeles. 

    At the conclusion of a 12-day trial, a jury on March 27 found Chan guilty of all 12 felony counts for which he was charged: one count of conspiracy to violate the Racketeer Influenced and Corrupt Organizations (RICO) Act, seven counts of honest services wire fraud, three counts of federal program bribery, and one count of making false statements to a federal government agency.

    “Chan abused his public office and sought to deepen the corruption of city politics for the benefit of his own business interests,” said United States Attorney Martin Estrada. “Today’s sentence sends a message to the public and City Hall alike that our government should not be for sale and those that undermine our democracy through pay-to-play schemes will be prosecuted to the fullest extent of the law.”

    “Today’s sentence serves as a reminder that there are consequences for robbing communities of the honest government services they deserve” said Akil Davis, Assistant Director in Charge of the FBI Los Angeles Field Office. “The harm of public corruption manifests itself not only in financial loss, but also the loss of faith in government and public officials. The FBI will remain laser focused on those who seek to use their personal wealth and influence to facilitate relationships between those willing to pay or accept bribes.”

    Chan served for years as the General Manager of the Los Angeles Department of Building and Safety (LADBS) and, later, as the Deputy Mayor of Economic Development from 2016 to 2017. Chan abused both of these high offices and the influence they carried to enrich himself, Huizar, and other public officials within the city.

    Huizar, 56, of Boyle Heights, represented Council District 14 (CD-14) on the Los Angeles City Council from 2005 until his resignation in October 2020. CD-14 encompassed downtown Los Angeles and some of its surrounding areas. When downtown Los Angeles was experiencing a huge real estate development boom, Huizar chaired the Planning and Land Use Management (PLUM) Committee, which oversaw all major commercial and residential development projects in the city.

    Along with Huizar, Chan helped conceive, lead, and operate the “CD-14 Enterprise,” a criminal racketeering enterprise that exploited the city approval process for large real estate development projects to exact bribes from developers. Chan played a critical role in guiding and ensuring the CD-14 Enterprise’s success, managing the conspiracy through both the powerful public offices he occupied and the private relationships he held with wealthy foreign developers seeking to build in the city.  Capitalizing on this unique position, Chan steered nearly $2 million in financial benefits to himself, Huizar, and other public officials as part of the pay-to-play bribery scheme.

    In furtherance of the conspiracy, while he was General Manager of LADBS and then Deputy Mayor, Chan established and directed a secret business partnership with real estate development consultant George Chiang, securing a lucrative real estate consulting agreement with Chinese real estate developer Shenzhen Hazens. As part of that agreement, Chan solicited and accepted hundreds of thousands of dollars in bribes to advise and pressure other city officials, including Huizar, in favor of Hazens’ Luxe Hotel redevelopment project in downtown Los Angeles. When he left city employment, Chan used the consulting business that he had secretly built to direct bribes to other public officials for the benefit of his private consulting clients. 

    To help prolong the pay-to-play bribery scheme, Chan also facilitated a $100,000 campaign contribution commitment from Hazens for Huizar’s wife’s candidacy to succeed Huizar as CD-14 Councilmember in exchange for Huizar’s votes to approve the Luxe Hotel project. Chan also helped facilitate numerous other bribes from Hazens to Huizar, including tens of thousands of dollars in sham real estate consulting fees, concert tickets, China travel expenses, and contributions to Huizar’s 2015 campaign debt and alma mater high school. 

    Chan also facilitated payment of nearly $1 million in bribes to Huizar from billionaire developer Wei Huang, 58, of Shenzhen, China, including $600,000 to settle a sexual harassment lawsuit, nearly $200,000 in casino chips, and luxury-laden gambling trips to Las Vegas. Chan similarly facilitated bribes from Huang to George Esparza, Huizar’s special assistant and key associate in the pay-to-play bribery scheme, through casino chips and lavish Las Vegas trips. When Huang provided these bribes, his company, Shen Zhen New World I LLC, was planning to redevelop the downtown L.A. Grand Hotel into the tallest tower west of the Mississippi, which would require city approvals and Huizar’s official assistance.

    Chan played a crucial role in facilitating Huang’s payment of $600,000 for Huizar to settle a sexual harassment lawsuit filed by a former CD-14 staffer, which threatened Huizar’s 2015 re-election campaign and the continued operation of the CD-14 Enterprise. Chan conceived of and helped carry out an elaborate plan involving a foreign shell company, intermediaries, and fraudulent corporate documents to arrange a sham private loan that shielded the fact of Huang’s involvement in the payment. Chan later lied to FBI agents that he was not involved in the settlement, that Huang had no projects in Huizar’s district needing Huizar’s support, and that Huang had never asked Huizar for help with anything – all of which Chan knew to be false.

    Huizar was sentenced on January 26 to 13 years in federal prison and also was ordered to pay $443,905 in restitution to the City of Los Angeles and $38,792 in restitution to the IRS. He pleaded guilty in January 2023 to one count of racketeering conspiracy and one count of tax evasion. Huizar has been ordered to begin serving his prison sentence no later than October 7.

    Hazens’ U.S. subsidiary, Jia Yuan USA Co. Inc., which was seeking to redevelop the Luxe Hotel, has paid $1.05 million to resolve the government’s investigation into its conduct related to this case, which included bribery and illegal campaign contributions.

    Huang, who is charged with several felonies for his bribes to Huizar with Chan’s assistance, fled the United States shortly after the execution of numerous federal search warrants in this case and is considered a fugitive from justice. Huang’s downtown Los Angeles-based company Shen Zhen New World I LLC was convicted in 2022 of eight felonies for – through Huang’s actions as its owner – paying more than $1 million in bribes to Huizar for his critical support for the L.A. Grand Hotel redevelopment project. The company was sentenced to five years of probation, fined $4 million, and ordered to pay the costs of prosecution.

    Relatedly, real estate developer Dae Yong Lee, a.k.a. “David Lee,” 60, of Bel Air, and one of his companies, 940 Hill LLC, were convicted in 2022 of providing $500,000 in cash to Huizar and Esparza in exchange for their help in resolving a labor organization’s appeal of a downtown Los Angeles development project. Lee is serving a six-year federal prison sentence and was fined $750,000. 940 Hill LLC was sentenced to five years’ probation, fined over $1 million, and ordered to pay the costs of prosecution.

    Prosecutors also have secured guilty pleas from Chiang; Esparza; lobbyist Morrie Goldman; and political fundraiser Justin Jangwoo Kim. Each of these defendants cooperated with the government and testified during at least one trial in this case and will be sentenced at upcoming hearings in November.

    The FBI and IRS Criminal Investigation investigated this matter.

    Assistant United States Attorney Mack E. Jenkins, Chief of the Criminal Division, and Assistant United States Attorneys Cassie D. Palmer, Susan S. Har, and Brian R. Faerstein of the Public Corruption and Civil Rights Section prosecuted this case.

    Any member of the public who has information related to this or any other public corruption matter in the City of Los Angeles is encouraged to send information to the FBI’s email tip line at https://tips.fbi.gov or to contact the FBI’s Los Angeles Field Office at (310) 477-6565.

    MIL Security OSI –

  • MIL-OSI USA: Improving Access to Small Business Funding: OEDIT Announces Partner Outreach Program

    Source: US State of Colorado

    DENVER – Today, Governor Polis and the Business Support division of the Colorado Office of Economic Development and International Trade (OEDIT) announced the Partner Outreach Program (POP) to connect Colorado entrepreneurs and small business owners to OEDIT programs. A network of partners with expertise in serving rural, minority-owned, and immigrant-owned businesses has been established to work with businesses across the state to access loans and funding that can help them take steps to grow their businesses.

    “Helping small businesses across the state with access to funding and technical assistance will help small businesses thrive and strengthen Colorado’s economy. Small businesses drive our economy and with access to these experienced partners and their resources, Colorado will continue to be the best place in the country for anyone to start and grow a business,” said Governor Polis.

    Several OEDIT programs specialize in serving businesses that have had trouble securing a loan, need a smaller-than-average loan to get up and running, or have not borrowed money before.

    “Small businesses make up 99.5% of Colorado’s economy. When small businesses have access to financing that meets their needs, they can take important steps to grow their revenues and create new jobs. The Partner Outreach Program is an innovative program that responds to community needs and will expand our outreach efforts across the vast majority of the state. That means new opportunities for Colorado’s small businesses, including those that have historically encountered barriers to funding and support,” said Eve Lieberman, OEDIT Executive Director.

    To establish the POP network, six partners have been selected for their ability to serve diverse Colorado businesses, with a special emphasis on serving business owners who have historically encountered barriers to business capital and loans. All partners have a demonstrated history as a trusted community organization committed to community outreach, community development, and/or experience with supporting small businesses to access capital.

    Collectively, these partners offer support for a wide range of demographic groups and reach at least 90% of the state, from the Western Slope to the rural Eastern Plains and southern Colorado.

    • Black Business Initiative – Specializes in serving indigenous and Black communities in the Denver Metro area and San Luis Valley.
    • Community Enterprise Development Services – Serves business owners in the Denver Metro, Fort Collins, Weld County and Morgan County. Experienced working with Ethiopian, Islamic, Korean, Somali and underserved communities with an additional focus on communities speaking a language other than English.
    • Overwrite – Specializes in serving immigrant, migrant, Hispanic, Asian and Southeast Asian, African and Black communities in the Denver Metro area and Colorado Springs.
    • Prairie Rose – Has a demonstrated history of serving Spanish speaking communities in the Western Slope, Eastern Plains, and Durango communities.
    • Startup Colorado – Serves the Eastern Plains and the San Luis Valley, with experience serving business owners in all rural communities.
    • Wezesha Dada Center – Active in the Denver, Pueblo, Eastern Plains, Aurora, and Colorado Springs, with experience serving immigrant, migrant, diaspora, refugee and Black communities.

    About Colorado Office of Economic Development and International Trade

    The Colorado Office of Economic Development and International Trade (OEDIT) works with partners to create a positive business climate that encourages dynamic economic development and sustainable job growth. Under the leadership of Governor Jared Polis, we strive to advance the State’s economy through financial and technical assistance that fosters local and regional economic development activities throughout Colorado. OEDIT offers a host of programs and services tailored to support business development at every level including business retention services, business relocation services, and business funding and incentives. Our office includes the Global Business Development division; Colorado Tourism Office; Colorado Outdoor Recreation Industry Office; Colorado Creative Industries; Business Financing & Incentives division; the Colorado Small Business Development Network; Cannabis Business Office; Colorado Office of Film, TV & Media; the Minority Business Office; Employee Ownership Office; and Rural Opportunity Office. Learn more at oedit.colorado.gov

    ###
     

    MIL OSI USA News –

  • MIL-OSI: EMGS – Vessel activity and multi-client sales update for the third quarter 2024

    Source: GlobeNewswire (MIL-OSI)

    Electromagnetic Geoservices ASA (the “Company” or “EMGS”) releases information on vessel activity and multi-client sales during the quarter approximately 4-5 working days after the close of each quarter. The Company defines vessel utilisation as the percentage of the vessel charter period spent on proprietary or multi-client data acquisition. Downtime (technical or maritime), mobilisation, steaming, and some standby activities are not included in the utilisation rate.  

    At the end of the third quarter 2024 the Company had one vessel on charter, the Atlantic Guardian. The Atlantic Guardian completed transit from Brazil to Norway and commenced acquisition of previously announced prefunded multi-client projects including the OBN seismic survey.

    The utilization for the third quarter was 40% compared with 0% for the third quarter 2023. 

    EMGS had one vessel in operation and recorded 3.0 vessel months in the quarter. In the third quarter 2023, the Company recorded 3.0 vessel months.

    Multi-client revenues in the third quarter
     The Company expects to record approximately USD 0.5 million in late sale multi-client revenue in the third quarter of 2024. The revenue for the fully prefunded multi-client surveys, acquired in the third quarter, is expected to be recognized in the fourth quarter of this year upon final data delivery.   

    EMGS will publish its third quarter 2024 financial results on Thursday 7 November 2024 prior to 07:30 local time (Norway). A recorded presentation will also be made available over the Internet. To access the presentation, please go to the Company’s homepage (http://www.emgs.com) and follow the link.

    Contact
     Anders Eimstad, Chief Financial Officer, +47 948 25 836

    This information is published in accordance with the Norwegian Securities Trading Act § 5-12.

    About EMGS
     EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. EMGS supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The Company’s services enable the integration of EM data with seismic and other geophysical and geological information to give explorationists a clearer and more complete understanding of the subsurface. This improves exploration efficiency and reduces risks and the finding costs per barrel. CSEM technology can also be used to detect the presence of marine mineral deposits (primarily Seabed Massive Sulphides) and EMGS believes that the technology can also be used to estimate the mineral content of such deposits. The Company is undertaking early-stage initiatives to position itself in this future market.

    The MIL Network –

  • MIL-OSI: Renasant Announces 2024 Third Quarter Webcast and Conference Call Information

    Source: GlobeNewswire (MIL-OSI)

    TUPELO, Miss., Oct. 08, 2024 (GLOBE NEWSWIRE) — Renasant Corporation (NYSE: RNST) (the “Company”) will announce 2024 third quarter results following the NYSE’s closing on Tuesday, October 22, 2024. The Company will hold executive management’s quarterly webcast and conference call with analysts on Wednesday, October 23, 2024, at 10:00 AM Eastern Time (9:00 AM Central Time).

    The webcast is accessible through Renasant’s investor relations website at http://www.renasant.com or https://event.choruscall.com/mediaframe/webcast.html?webcastid=YvWBKrUB. To access the conference via telephone, dial 1-877-513-1143 in the United States and request the Renasant Corporation 2024 Third Quarter Earnings Webcast and Conference Call. International participants should dial 1-412-902-4145 to access the conference call.

    The webcast will be archived on http://www.renasant.com and will remain accessible for one year. A replay can be accessed via telephone by dialing 1-877-344-7529 in the United States and entering conference number 8626805 or by dialing 1-412-317-0088 internationally and entering the same conference number. Telephone replay access is available until November 6, 2024.

    About Renasant Corporation:

    Renasant Corporation is the parent of Renasant Bank, a 120-year-old financial services institution. Renasant has assets of approximately $17.5 billion and operates 185 banking, lending, mortgage, and wealth management offices throughout the Southeast as well as offering factoring and asset-based lending on a nationwide basis.

    Note to Investors:

    This news release may contain, or incorporate by reference, statements which may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements usually include words such as “expects,” “projects,” “anticipates,” “believes,” “intends,” “estimates,” “strategy,” “plan,” “potential,” “possible” and other similar expressions.

    Prospective investors are cautioned that any such forward-looking statements are not guarantees for future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include significant fluctuations in interest rates, inflation, economic recession, significant changes in the federal and state legal and regulatory environment, significant underperformance in our portfolio of outstanding loans, and competition in our markets. Management believes that the assumptions underlying the Company’s forward-looking statements are reasonable, but any of the assumptions could prove to be inaccurate. Investors are urged to carefully consider the risks described in the Company’s filings with the Securities and Exchange Commission (the “SEC”) from time to time, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, which are available at http://www.renasant.com and the SEC’s website at http://www.sec.gov. The Company expressly disclaims any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.

    Contacts For Media:         
    John S. Oxford
    Senior Vice President         
    Chief Marketing Officer
    (662) 680-1219
    joxford@renasant.com      		 For Financials:         
    James C. Mabry IV
    Executive Vice President         
    Chief Financial Officer
    (662) 680-1281
    jim.mabry@renasant.com 

    The MIL Network –

  • MIL-OSI: RegEd to Showcase Next-Generation Producer Management Technology at the 2024 InsureTech Connect Conference

    Source: GlobeNewswire (MIL-OSI)

    Raleigh, NC, Oct. 08, 2024 (GLOBE NEWSWIRE) — RegEd, the leading provider of compliance technology solutions to the insurance and financial services industry, is proud to be a Silver Sponsor of the 2024 InsureTech Connect (ITC) Conference, held from Oct. 15-17, in Las Vegas, NV.

    During the conference, RegEd will showcase its Xchange Producer Management solution, which has been developed in partnership with the nation’s largest insurance companies. Jacob Spitzley, RegEd Director of Product Management, will present “Xchange iX: Transforming the Producer Lifecycle to Achieve Real-Time, Compliant Business Placement” on Wed., Oct. 16th at 10:10 AM. The presentation will detail how Xchange automates and streamlines producer management and compliance processes, from onboarding and initial licensing to license renewals and terminations. Additionally, attendees will learn how IT can empower business operations through advanced automation and integration to the insurance tech ecosystem.

    ITC Vegas, the premier global event for the insuretech sector, hosts the largest gathering of technology innovators, investors, and insurance leaders from around the world. Over three days, the event will bring together the industry’s top minds to unveil cutting-edge solutions, explore strategies for driving efficiency and cost savings, and foster valuable networking opportunities. Attendees will represent key sectors such as Property & Casualty, Life, Health, Small Business, and Specialty Insurance, making it a must-attend for industry professionals.

    End-to-End Producer Lifecycle Automation and Management By Exception

    Proven through over more than 200 successful implementations, Xchange Producer Management delivers the most advanced automation in the industry, minimizing human intervention, reducing NIGOs, and speeding time to market. It is the only end-to-end solution that automates and streamlines producer management and compliance processes, from onboarding and initial licensing to license renewals and terminations.

    Key capabilities include:

    • Comprehensive tools to seamlessly integrate contracting, licensing, appointments, registrations, CE/training, and ongoing credential maintenance.
    • Straight-through processing and just-in-time appointments, enabling efficiency across all operational processes.
    • Unique capabilities like Smart Appointments and Alerts 2.0 for producer data reconciliation streamline workflows and enhance productivity.
    • A seamless user experience with self-service capabilities ensures the highest level of satisfaction for producers and adjusters.
    • Real-time credentials validation ensures immediate “clear to sell” status, maintaining compliance.

    To learn more about how Xchange drives efficiency in producer management, visit RegEd at booth #1949 the 2024 ITC Conference or schedule a consultation.

    The MIL Network –

  • MIL-OSI: WISeKey to Launch Enhanced WISePhone.CH 2025 Edition with Advanced Capabilities

    Source: GlobeNewswire (MIL-OSI)

    WISeKey to Launch Enhanced WISePhone.CH 2025 Edition with Advanced Capabilities

    Launch Slated for Q2 2025

    Video PoC of WISePhone.CH is Available at https://lnkd.in/e97fwkuD

    Additional Information Available at http://www.WISePhone.CH

    Geneva, Switzerland – October 8, 2024: WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN, NASDAQ: WKEY), a leader in cybersecurity, AI, Blockchain, and IoT operating as a holding company, today announced the upcoming launch of its enhanced WISePhone.CH 2025 Edition. Building upon its 2017 introduction, WISePhone.CH was the first secure blockchain phone aimed at providing enterprise-grade protection for digital communications. This new edition, slated for release in Q2 2025, promises significant advancements in security and performance.

    WISePhone.CH 2025 Edition will introduce a comprehensive suite of new features, designed to protect both individual and IoT device data using cutting-edge blockchain technology. As an all-in-one secure platform, it offers superior privacy and security for both personal and business use, emphasizing data protection through advanced encryption and secure storage.

    New Features and Enhanced Security

    The WISePhone.CH 2025 edition is designed to be an affordable, versatile tool that enhances mobility while ensuring the confidentiality of intellectual property and sensitive communications. With the ability to transform public networks and mobile devices into ultra-secure communication channels, it is an ideal solution for enterprises seeking to strengthen their cybersecurity posture.

    Powered by WISeKey’s proprietary security technology and operating on an optimized Android OS, WISePhone.CH supports secure communications via encrypted email and voice services, secure digital identity management, and cloud-based data protection. The integrated Personal Cybersecurity Hub offers complete control over application permissions, providing separate, secure environments for personal and business data.

    Pre-Loaded with WISeKey’s Suite of Secure Applications

    WISePhone.CH 2025 Edition will come pre-installed with WISeKey’s suite of security solutions, including WISeID and WISeTalk. These applications provide encrypted voice calls, conference calls, secure texting, and file transfer capabilities, ensuring end-to-end security. In a major development, WISePhone.CH will be the first smartphone to be powered by SEALCOIN, WISeKey’s proprietary cryptocurrency and blockchain platform, enabling users to engage in secure transactions on-the-go.

    Cutting-Edge Hardware and Cryptocurrency Integration

    The phone will feature an integrated crypto wallet and a Hardware Security Module (HSM), delivering an unmatched level of security for data storage and financial transactions. It will also support SuisseID Digital Identity, enabling qualified cloud-based digital signatures in compliance with Swiss government regulations and GDPR standards.

    Reinforced Protection through WISeID and WISeAccess

    The WISeID feature secures users’ digital assets and personal data in an encrypted enclave, backed by WISeKey’s secure Swiss cloud. The WISeAccess multi-factor authentication system further enhances security, ensuring that only authorized individuals can access the full suite of WISePhone.CH applications.

    WISeKey continues to push the boundaries of cybersecurity technology, ensuring that businesses and individuals worldwide remain safe from ever-evolving digital threats.

    About WISeKey 

    WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a Swiss-based computer infrastructure company specializing in cybersecurity, digital identity, blockchain, Internet of Things (IoT) solutions, and post-quantum semiconductors. As a computer infrastructure company, WISeKey provides secure platforms for data and device management across industries like finance, healthcare, and government. It leverages its Public Key Infrastructure (PKI) to ensure encrypted communications and authentication, while also focusing on next-generation security through post-quantum cryptography.

    WISeKey’s work with post-quantum semiconductors is aimed at future-proofing its security solutions against the threats posed by quantum computing. These advanced semiconductors support encryption that can withstand the computational power of quantum computers, ensuring the long-term security of connected devices and critical infrastructure. Combined with its expertise in blockchain and IoT, WISeKey’s post-quantum technologies provide a robust foundation for secure digital ecosystems at the hardware, software, and network levels.

    WISeKey operates as a holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform.

    Disclaimer
    This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

    This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FinSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

    Press and Investor Contacts

    WISeKey International Holding Ltd 
    Company Contact:  Carlos Moreira
    Chairman & CEO
    Tel: +41 22 594 3000
    info@wisekey.com    		 WISeKey Investor Relations (US) 
    The Equity Group Inc.
    Lena Cati
    Tel: +1 212 836-9611 / lcati@equityny.com
    Katie Murphy
    Tel: +1 212 836-9612 / kmurphy@equityny.com

    The MIL Network –

  • MIL-OSI: Lendmark Financial Services Expands Alabama Presence with Muscle Shoals Branch, Marking its 17th Location in the State

    Source: GlobeNewswire (MIL-OSI)

    MUSCLE SHOALS, Ala., Oct. 08, 2024 (GLOBE NEWSWIRE) — Lendmark Financial Services (Lendmark), a leading provider of household credit and consumer loan solutions, continues to expand its Alabama footprint, opening a new branch in Muscle Shoals.

    The branch is located at 1901 Woodward Avenue and is expected to serve hundreds of customers in its first year. Tiffany Hurtarte, who serves as the branch manager, will be responsible for administration of all daily operations. These include building personal relationships with customers and integrating into the community to ensure area residents receive a superior level of individualized loan services that meet their unique financial needs.

    “Lendmark’s growth shows many consumers need additional financial service options to manage planned and unplanned life events without depleting their savings,” said Chad DeBoard, Vice President of Branch Operations at Lendmark. “Our team will bring our customer-first, relationship-based approach to Muscle Shoals, delivering personalized and convenient solutions that meet the respective financial needs of this community’s residents.”

    Lendmark also provides financing solutions for thousands of retailers and independent auto dealerships, allowing these businesses’ customers to obtain Lendmark financing. Local businesses that are interested in partnering with Lendmark to service this need should visit the branch or call 256-248-9585.

    Lendmark remains dedicated to giving back through its signature cause-related initiative, ‘Climb to Cure.’ The company has committed to raising $10 million by 2025 to mark its 10-year anniversary partnering with CURE Childhood Cancer. So far, Lendmark’s employees, partners and customers have raised $8.83 million to support CURE, an Atlanta-based nonprofit dedicated to funding targeted pediatric cancer research that is utilized nationwide.

    Lendmark customers can participate by donating $1 when closing their loan. Lendmark matches the donation.

    About Lendmark Financial Services
    Lendmark Financial Services (Lendmark) provides personal and household credit and loan solutions to consumers. Founded in 1996, Lendmark strives to be the lender, employer, and partner of choice by protecting household wealth, offering stability and helping consumers meet both planned and unplanned life events through affordable loan offerings. Today, Lendmark operates more than 515 branches in 22 states across the country, providing personalized services to customers and retail business partners with every transaction. Lendmark is headquartered in Lawrenceville, Ga. For more information, visit http://www.lendmarkfinancial.com.

    Media Contact
    Jeffrey Hamilton
    Senior Manager, Corporate Communications
    jhamilton@lendmarkfinancial.com
    678-625-3128

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/156ef33e-22af-42f3-805e-b379a8ff322a

    The MIL Network –

  • MIL-OSI: Proportfoliopartners Unveils Revolutionary Trading Platform: Experience 3x Faster Trades

    Source: GlobeNewswire (MIL-OSI)

    London, UK, Oct. 08, 2024 (GLOBE NEWSWIRE) — In a groundbreaking advancement for the crypto trading industry, Proportfoliopartners has introduced a next-generation platform that allows users to trade at speeds up to 3x faster than traditional systems. This revolutionary platform now stands as the most advanced and swiftest crypto trading solution globally, giving investors a significant advantage in today’s fast-moving markets.

    Unlocking 3x Faster Trades
    In a world where speed and precision are critical in the crypto markets, Proportfoliopartners’ platform offers a cutting-edge solution for traders of all experience levels. Engineered to execute trades at speeds far beyond most platforms, it maximizes profit potential in a fraction of the time. Powered by AI-driven algorithms, the platform identifies lucrative opportunities in the market with pinpoint accuracy, helping users consistently achieve competitive returns faster than before.

    “Proportfoliopartners has always been a leader in innovation. With this new platform, we’re empowering traders to stay ahead of real-time market movements,” said the CEO of Proportfoliopartners. “With the world’s fastest trading algorithms, we’re proud to offer investors a way to achieve accelerated returns with unmatched execution speed.”

    Meeting the Demands of a Fast-Paced Market
    The crypto trading landscape is notorious for its volatility and rapid pace, making it essential for traders to react quickly. Traditional platforms often suffer from slow execution speeds, resulting in missed opportunities. Proportfoliopartners’ new platform eliminates these issues, offering ultra-fast trade execution, real-time market insights, and adaptive AI-driven strategies that react within milliseconds.

    “Our platform doesn’t just keep pace with the market—it anticipates it,” the CEO explained. “By analyzing data at lightning speed, traders can capitalize on opportunities before they fully emerge, giving our users a crucial advantage.”

    A Game-Changer for Traders of All Levels
    Whether you’re an experienced trader or just starting, Proportfoliopartners’ platform is designed to cater to all needs. Its user-friendly interface ensures ease of use, while the advanced technology behind the scenes offers powerful tools for both novices and pros. New traders benefit from automated strategies that simplify trading, while seasoned traders can customize and implement their own algorithms for tailored strategies.

    “Our vision was to create a platform that democratizes crypto trading,” the CEO added. “From professionals seeking advanced tools to newcomers looking for confidence, this platform offers everything needed to aim for faster trades and better results, powered by the world’s most sophisticated AI.”

    The Future of Crypto Trading
    As the demand for faster, more efficient crypto trading solutions grows, Proportfoliopartners’ platform arrives at a perfect time. Traders are now looking for platforms that offer not only speed and high returns but also security and transparency. Proportfoliopartners addresses these concerns by integrating state-of-the-art security measures and maintaining regulatory compliance, allowing users to trade with confidence in a secure environment.

    With additional features like advanced risk management tools to safeguard investments and round-the-clock customer support, Proportfoliopartners is committed to providing users with the resources they need to succeed in a rapidly evolving crypto market.

    Call to Action
    Proportfoliopartners’ fast-trading platform is reshaping the crypto trading landscape. Investors are encouraged to explore its full potential and unlock powerful tools designed to enhance trading performance. To celebrate the launch, the company is offering a limited-time promotion, giving new users access to premium features at no extra cost.

    For more information and to experience the future of crypto trading with 3x faster performance, visit Proportfoliopartners today. The future of crypto trading is faster—don’t miss out!

    Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

    The MIL Network –

  • MIL-OSI Canada: Government of Canada invests in Giatec® Scientific Inc. and its AI-driven concrete demonstration plant

    Source: Government of Canada News (2)

    News release

    This investment in Giatec Scientific Inc. will create an estimated 160 well-paying jobs and help reduce the Canadian carbon footprint for concrete

    October 8, 2024 – Ottawa, Ontario

    The federal government is committed to a carbon-neutral future and has set the ambitious target of achieving a net-zero economy by 2050 while creating good-paying jobs. As part of that commitment, we are supporting the transition to clean technology innovations that will help Canadian businesses reduce carbon emissions and lessen their impact on the environment.

    Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, is pleased to announce a $17.5 million investment in Giatec Scientific Inc. This investment will support the company’s $65.8 million project to develop sensor technologies using artificial intelligence (AI) to optimize concrete mixtures, resulting in a reduced carbon footprint, while improving the quality of building materials used for Canadian infrastructure.

    With this investment, Giatec Scientific Inc. will develop a smart concrete demonstration plant, which will operate using its new SmartMix™ technological innovation, for companies and universities to advance innovation in the construction ecosystem. This plant will be based in Ottawa is estimated to create 160 good-paying jobs.

    Canada is a global leader in tackling climate change, and this announcement will not only help Giatec Scientific Inc. lower its own greenhouse gas emissions but also provide an opportunity for all industry stakeholders in Canada to do the same. 

    Quotes

    “Our government is committed to a net-zero future for Canada, and this project is precisely the investment we need. By leveraging technological innovation to reduce greenhouse gas emissions and improving building materials quality, we can drive efficiencies that lower construction costs, making projects more affordable and profitable for our construction industry. It is a win for our planet, our infrastructure and our industry.”
    – The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry

    “Securing the Strategic Innovation Fund funding is a significant step forward for Giatec as we embark on our three-year, $65.8 million research and development project to build the world’s first AI-enabled digital platform for the concrete industry. This groundbreaking platform will deliver tremendous value to various stakeholders across the industry, including cement, aggregate and admixture producers, ready-mix suppliers, construction companies and infrastructure owners. Our vision is to revolutionize the concrete industry and help build more sustainable, efficient and durable infrastructure, while positioning Canada as a global leader in clean, innovative technologies.”
    – Pouria Ghods, CEO and Co-founder of Giatec Scientific Inc.

    Quick facts

    • The Strategic Innovation Fund (SIF) provides major investments in innovative projects that will help grow Canada’s economy for the benefit of all Canadians. SIF covers all sectors of the economy and is available to for-profit and not-for-profit organizations, with the goal of supporting the Canadian innovation network.

    • Giatec Scientific Inc. was founded in 2011 with a mission to bring disruptive, knowledge-based and sustainable technologies to the concrete industry. Its products allow concrete producers, contractors and business owners to increase the profitability of their projects by improving efficiencies, while reducing the environmental impact of the concrete industry.

    • SmartMix™ platform is an innovation that will allow Giatec Scientific Inc. to design cost-optimized concrete mixes. The project will lead to the development, deployment and commercialization of sensory/software technologies that can be used to monitor concrete throughout its life cycle, from variabilities in raw material to in-transit properties to characteristics of the completed concrete over its lifetime.

    • The technology developed through this project will contribute to reducing the greenhouse gas emissions of concrete manufacturing by up to 20% by optimizing concrete mixtures to use less cement.

    • Through the Roadmap to Net-Zero Carbon Concrete by 2050, the Government of Canada, in partnership with the Canadian cement and concrete industry, has charted the course to a net-zero carbon cement and concrete industry by 2050, committing to reduce more than 15 megatonnes (Mt) of greenhouse gas emissions cumulatively by 2030, and more than 4 Mt annually thereafter.

    Associated links

    Contacts

    Audrey Milette
    Press Secretary
    Office of the Minister of Innovation, Science and Industry
    audrey.milette@ised-isde.gc.ca

    Media Relations
    Innovation, Science and Economic Development Canada
    media@ised-isde.gc.ca

    Stay connected

    Find more services and information on the Innovation, Science and Economic Development Canada website.

    Follow Innovation, Science and Economic Development Canada on social media.
    X (Twitter): @ISED_CA | Facebook: Canadian Innovation | Instagram: @cdninnovation | LinkedIn: Innovation, Science and Economic Development Canada

    MIL OSI Canada News –

  • MIL-OSI USA: SBA Economic Injury Disaster Loans Available to North Dakota Small Businesses

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – Small nonfarm businesses in three North Dakota counties and neighboring counties in Montana and South Dakota are now eligible to apply for low‑interest federal disaster loans from the U.S. Small Business Administration, announced Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration. These loans offset economic losses because of reduced revenues caused by drought in the following primary county that began Aug. 6.

    Primary North Dakota county:  Bowman;
    Neighboring North Dakota counties:  Adams and Slope;
    Neighboring Montana county:  Fallon;
    Neighboring South Dakota county:  Harding.

    When farmers face crop losses and a disaster is declared by the Secretary of Agriculture, SBA working capital loans become a lifeline for eligible small businesses. “These loans are the backbone that helps rural communities bounce back and thrive after a disaster strikes,” Sánchez said.

    “SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster,” Sánchez continued.

    Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.

    “Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 4 percent for businesses and 3.25 percent for private nonprofit organizations, a maximum term of 30 years and are available to small businesses and most private nonprofits without the financial ability to offset the adverse impact without hardship,” Sánchez added.

    Interest does not begin to accrue until 12 months from the date of the initial disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.

    By law, SBA makes Economic Injury Disaster Loans available when the U.S. Secretary of Agriculture designates an agricultural disaster. The Secretary declared this disaster on Sept. 30.

    Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency about the U.S. Department of Agriculture assistance made available by the Secretary’s declaration. However, nurseries are eligible for SBA disaster assistance in drought disasters.

    Applicants may apply online and receive additional disaster assistance information at 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 apply for economic injury is May 30, 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, 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 http://www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI USA: Debunking Helene Response Myths

    Source: United States House of Representatives – Congressman Chuck Edwards (NC-11)

    Dear Friend,

    Over the past 10 days, I have been proud of how our mountain communities have come together to help one another. We have seen a level of support that is unmatched by most any other disaster nationwide; but amidst all of the support, we have also seen an uptick in untrustworthy sources trying to spark chaos by sharing hoaxes, conspiracy theories, and hearsay about hurricane response efforts across our mountains.

    While it is true, the Federal Emergency Management Agency’s response to Hurricane Helene has had its shortfalls, I’m here to dispel the outrageous rumors that have been circulated online:

    1. Hurricane Helene was NOT geoengineered by the government to seize and access lithium deposits in Chimney Rock.
      1. Nobody can control the weather.
      2. Charles Konrad, director of the National Oceanic and Atmospheric Administration’s Southeast Regional Climate Center, has confirmed that no one has the technology or ability to geoengineer a hurricane.
        1. Current geoengineering technology can serve as a large-scale intervention to mitigate the negative consequences of naturally occurring weather phenomena, but it cannot be used to create or manipulate hurricanes.
      3. Local officials have confirmed the government is NOT seizing Chimney Rock.
        1. There was no “special meeting” held in Chimney Rock between federal, state or local governments about seizing the town.
    2. Local officials are NOT abandoning search and rescue efforts to bulldoze over Chimney Rock.
      1. Chimney Rock is NOT being bulldozed over.
      2. Rutherford County emergency services personnel are going to extensive lengths to search for missing people, including in debris by using cadaver dogs to locate any remains of individuals trapped in the debris.
      3. Just as every other community in Western North Carolina, Chimney Rock officials are focused first and foremost on recovery efforts, followed by plans to rebuild in the future.
    3. FEMA is NOT stopping trucks or vehicles with donations, confiscating or seizing supplies, or otherwise turning away donations.
      1. FEMA does not conduct vehicle stops or handle road closures with armed guards – all road closures are managed by local law enforcement who are prioritizing getting resources to their fellow community members.
    4. FEMA has NOT diverted disaster response funding to the border or foreign aid.
      1. Disaster response efforts and individual assistance are funded through the Disaster Relief Fund, which is a dedicated fund for disaster efforts.
        1. FEMA’s non-disaster related presence at the border has always been of major concern to me, even before Hurricane Helene, and I will continue to condemn their deployment of personnel to the southern border, but we must separate the two issues.
    5. FEMA is NOT going to run out of money.
      1. FEMA officials have repeatedly affirmed that the agency has enough money for immediate response and recovery needs over the next few months.
        1. Secretary Mayorkas’ statement indicating otherwise was an irresponsible attempt to politicize a tragedy for personal gain.
      2. In the coming months, Western North Carolina is going to need more disaster relief funding than is currently available to assist with recovery efforts.
        1. I’m confident that supplemental disaster relief funding, which I am already involved in the process of creating, will be considered in the House once we return to session in mid-November.
    6. FEMA cannot seize your property or land.
      1. Applying for disaster assistance does not grant FEMA or the federal government authority or ownership of your property or land.
    7. The FAA is NOT restricting access to airspace for Helene rescue and recovery operations.
      1. Nobody seeking to fly resources into Western North Carolina will be prohibited from doing so by the FAA or North Carolina Emergency Management so long as they coordinate their efforts with NC Aviation.
        1. If you are looking to conduct an airdrop of resources but don’t know who to contact for approval, please reach out to my office and we will share that information with you.
    8. FEMA is NOT only providing $750 to disaster survivors to support their recovery.
      1. The initial $750 provided to disaster survivors is an immediate type of assistance called Serious Needs Assistance that may be made to individuals in need as soon as they apply for FEMA assistance.
        1. The $750 is an upfront, flexible payment to help cover essential items like food, water, baby formula and medication while FEMA assesses the applicant’s eligibility for additional funds.
        2. This award is just the first step of a longer process to provide financial assistance to disaster survivors in need of federal support.
      2. As an application moves through the review process, individuals are eligible to receive additional forms of assistance for other needs such as temporary housing, personal property and home repair costs, etc.

    I encourage you to remember that everything you see on Facebook, X, or any other social media platform is not always fact. Please make sure you are fact checking what you read online with a reputable source.

    With my warmest regards,


    Chuck Edwards
    Member of Congress

    MIL OSI USA News –

  • MIL-OSI: Pieridae Announces Closing of Equity Rights Offering

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR
    DISSEMINATION IN UNITED STATES

    CALGARY, Alberta, Oct. 08, 2024 (GLOBE NEWSWIRE) — Pieridae Energy Limited (“Pieridae” or the “Company”) (TSX: PEA) is pleased to announce the successful completion of its previously announced equity rights offering (the “Rights Offering”) to eligible holders of its common shares (the “Common Shares”) of record at the close of business on September 9, 2024. The Rights Offering expired at 3:00 p.m. MDT on October 2, 2024, with the rights trading on the Toronto Stock Exchange (“TSX”) under the symbol “PEA.RT” and having been de-listed on that date.

    At closing, Pieridae issued an aggregate of 118,476,306 Common Shares pursuant to the Rights Offering and the Standby Commitment (as described below) at a price of $0.2448 per Common Share (the “Subscription Price”) for aggregate gross proceeds of approximately $29 million. Following closing, Pieridae has 290,387,642 Common Shares issued and outstanding.

    The Rights Offering resulted in 37,818,913 Common Shares issued pursuant to the exercise of rights under the basic subscription privilege and 61,251,034 Common Shares issued under the additional subscription privilege, for a total of 99,069,947 Common Shares issued to shareholders pursuant to the Rights Offering.

    As previously announced, in connection with the Rights Offering, the Company entered into a standby purchase agreement (the “Standby Purchase Agreement”) with Alberta Investment Management Corporation (“AIMCo”), an existing shareholder of Pieridae, pursuant to which AIMCo agreed to fully exercise its basic subscription privilege under the Rights Offering and to purchase up to an additional 77,625,434 Common Shares not otherwise subscribed for under the Rights Offering (the “Standby Commitment”). In addition to fully exercising its basic subscription privilege for 24,498,749 Common Shares and its additional subscription privilege for 58,219,075 Common Shares, AIMCo acquired 19,406,359 Common Shares pursuant to the Standby Commitment. Following closing of the Rights Offering, AIMCo owns approximately 47% of Pieridae’s issued and outstanding Common Shares. Shareholder approval was not required in respect of AIMCo becoming a control person of Pieridae because it acquired Common Shares in accordance with the rights offering exemption under Section 2.1 of National Instrument 45-106 – Prospectus Exemptions, and because the Subscription Price was at a “significant discount” to the closing price of the Common Shares on the TSX on August 26, 2024, being the last trading day prior to the announcement of the Rights Offering.

    To the knowledge of the Company after reasonable inquiry, insiders of Pieridae, including AIMCo, acquired 25,900,176 Common Shares under the basic subscription privilege and 59,879,790 Common Shares under the additional subscription privilege. To the knowledge of the Company after reasonable inquiry, no person that was not an insider of the Company before the Rights Offering became an insider as a result of the Rights Offering.

    Pieridae intends to use the aggregate net proceeds from the Rights Offering and Standby Commitment to repay indebtedness, for working capital and general corporate purposes, and to fund certain value-accretive optimization projects.

    “We are very pleased with the results of the Rights Offering and the Standby Commitment, which resulted in approximately $29 million equity proceeds for the Company. This is a strong endorsement by participating Pieridae shareholders in favour of our E&P and midstream strategy”, commented Darcy Reding, the Company’s President and Chief Executive Officer.

    Pursuant to the terms of the Standby Purchase Agreement, Pieridae has also entered into an investor rights agreement (the “Investor Rights Agreement”) and a registration rights agreement (the “Registration Rights Agreement”) with AIMCo, each effective as of the date hereof. Copies of the Investor Rights Agreement and Registration Rights Agreement will be made available under Pieridae’s profile on SEDAR+ at http://www.sedarplus.ca.

    Details of the Rights Offering and the Standby Commitment are set out in Pieridae’s Rights Offering notice and Rights Offering circular (the “Circular”), which are available under Pieridae’s profile on SEDAR+ at http://www.sedarplus.ca.

    There are no selling fees or commissions payable in connection with the Rights Offering. There is no fee payable to AIMCo in respect of the Standby Commitment; however, the Company has agreed to pay the reasonable out-of-pocket costs and expenses incurred by AIMCo in connection with the Standby Purchase Agreement and the Rights Offering.

    The Common Shares issued upon exercise of the rights have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the “United States” or to “U.S. persons” (as such terms are defined in Regulation S under the United States Securities Act of 1933, as amended). This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. There shall be no sale of the securities in any jurisdiction in which an offer to sell, a solicitation of an offer to buy, or a sale would be unlawful.

    ADVISORS

    Peters & Co. Limited acted as exclusive financial advisor to Pieridae with respect to the Rights Offering. Norton Rose Fulbright Canada LLP acted as Pieridae’s legal advisor.

    ABOUT PIERIDAE

    Pieridae is a Canadian energy company headquartered in Calgary, Alberta. The Company is a significant upstream producer and midstream custom processor of natural gas, natural gas liquids, condensate, and sulphur from the Canadian Foothills and adjacent areas in Alberta and in northeast British Columbia. Pieridae’s vision is to provide responsible, affordable natural gas and derived products to meet society’s energy security needs. Pieridae’s Common Shares trade on the TSX under the symbol “PEA”.

    For further information, visit http://www.pieridaeenergy.com, or please contact:

    Darcy Reding, President & Chief Executive Officer  Adam Gray, Chief Financial Officer
    Telephone: (403) 261-5900 Telephone: (403) 261-5900
       
    Investor Relations  
    investors@pieridaeenergy.com  
       

    Forward-Looking Statements

    Certain of the statements contained herein may constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws (collectively “forward-looking statements”). Words such as “may”, “will”, “should”, “could”, “would”, “intend”, “future”, “vision”, “strategy”, “prospect” and other similar words and expressions may be used to identify the forward-looking statements contained herein. These statements reflect management’s current beliefs and are based on information currently available to management. Forward-looking statements contained herein include, without limitation: the intended use of proceeds from the Rights Offering and the Standby Commitment; the anticipated benefits of the Rights Offering and the Standby Commitment; the Company’s E&P and midstream strategy; and the Company’s vision to provide responsible, affordable natural gas and derived products.

    Forward-looking statements involve significant risk and uncertainties. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements including, but not limited to, the risks associated with oil and gas exploration, development, exploitation, production, processing, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of resources estimates, environmental risks, competition from other producers, incorrect assessment of the value of acquisitions, failure to realize the anticipated benefits of acquisitions, delays resulting from or inability to obtain required regulatory approvals, and ability to access sufficient capital from internal and external sources. These and other risk factors are discussed in more detail under “Risk Factors” and elsewhere in Pieridae’s Annual Information Form for the year ended December 31, 2023 and under “Risk Factors” in the Circular, copies of which are available on the Company’s profile on SEDAR+ at http://www.sedarplus.ca.

    Forward-looking statements are based on a number of factors and assumptions which have been used to develop such forward-looking statements, but which may prove to be incorrect. Although Pieridae believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements because Pieridae can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified in this document, assumptions have been made regarding, among other things: the impact of increasing competition; the general stability of the economic and political environment in which Pieridae operates; the ability of Pieridae to obtain and retain qualified staff, equipment and services in a timely and cost efficient manner; the ability of the operator of the projects which Pieridae has an interest in to operate the field in a safe, efficient and effective manner; the ability of Pieridae to obtain financing on acceptable terms; the ability to replace and expand oil and natural gas resources through acquisition, development and exploration; the timing and costs of pipeline, storage and facility construction and expansion and the ability of Pieridae to secure adequate product transportation; future oil and natural gas prices; currency, exchange and interest rates; the regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which Pieridae operates; timing and amount of capital expenditures; future sources of funding; production levels; weather conditions; success of exploration and development activities; access to gathering, processing and pipeline systems; advancing technologies; and the ability of Pieridae to successfully market its oil and natural gas products.

    Readers are cautioned that the foregoing list of assumptions and risk factors is not exhaustive. Additional information on these and other factors that could affect Pieridae’s operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR+ website (www.sedarplus.ca), and at Pieridae’s website (www.pieridaeenergy.com).

    Although the forward-looking statements contained herein are based upon what management believes to be reasonable assumptions, management cannot assure that actual results will be consistent with these forward-looking statements. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and Pieridae assumes no obligation to update or review them to reflect new events or circumstances except as required by applicable securities laws.

    Forward-looking statements contained herein concerning the oil and gas industry and Pieridae’s general expectations concerning this industry are based on estimates prepared by management using data from publicly available industry sources as well as from reserve reports, market research and industry analysis and on assumptions based on data and knowledge of this industry which Pieridae believes to be reasonable. However, this data is inherently imprecise, although generally indicative of relative market positions, market shares and performance characteristics. While Pieridae is not aware of any misstatements regarding any industry data presented herein, the industry involves risks and uncertainties and is subject to change based on various factors.

    Neither TSX nor its Regulation Services Provider (as that term is defined in policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

    The MIL Network –

  • MIL-OSI Security: Mississippi Man Charged in Sextortion Scheme Involving More Than 40 Victims

    Source: Federal Bureau of Investigation (FBI) State Crime News

    Jackson, Miss. – A Jackson man was arrested today in Jackson on federal charges relating to an alleged “sextortion” scheme that targeted multiple victims, including minors.

    According to a nine-count indictment unsealed this week, Marquez Cameron Jones Weston, 22, allegedly operated a “sextortion” scheme in which he engaged in cyberstalking, interstate threats, extortion, attempted production of child pornography, and transportation of child pornography over the internet. As part of the scheme charged in the indictment, Weston attempted to and did extort money and nude and sexually explicit photographic images from at least 47 different identified female individuals over the internet, with more unidentified. Several of these females were minors.  The indictment alleges Weston committed these crimes from July 2023 through February 2024.

    “We are seeing a troubling increase throughout the nation of ‘sextortion’ as criminals, like this defendant, use information they gain through on-line communications, hacking, or other means to blackmail juveniles and other victims into giving them pornography,” said U.S. Attorney Todd Gee. “I encourage parents to be aware of who their children are communicating with on-line, and all internet users to be cautious about sharing their personal information on-line.”

    “Today’s arrest demonstrates the steadfast commitment of the FBI, USAO and our law enforcement partners in protecting our communities from being victimized by sextortion,” said FBI Special Agent in Charge Robert Eikhoff.  “Marquez Cameron Jones Weston’s deliberate actions in targeting the innocence of our youth will not be tolerated. The FBI will continue to aggressively investigate and bring predatory individuals, like Mr. Weston, to justice.”

    Weston made his initial court appearance today before U.S. Magistrate Judge Andrew S. Harris of the U.S. District Court for the Southern District of Mississippi. If convicted, he faces a mandatory minimum sentence of 15 years in prison.

    In February, a federal grand jury named Weston in a separate indictment charging him with possession of child pornography. If convicted of that charge, he faces a maximum sentence of 20 years in prison. 

    U.S. Attorney Todd W. Gee of the Southern District of Mississippi and Special Agent in Charge Robert A. Eikhoff of the Federal Bureau of Investigation made the announcement.

    The FBI is investigating the case with assistance from the Sam Houston State University Police Department. 

    Assistant U.S. Attorney Kimberly T. Purdie is prosecuting the case.

    The FBI provides the following six tips on how people can protect themselves from sextortion schemes:

    • Be selective about what you share online. If your social media accounts are open to everyone, a predator may be able to figure out a lot of information about you.
    • Be wary of anyone you encounter for the first time online. Block or ignore messages from strangers.
    • Be aware that people can pretend to be anything or anyone online. Videos and photos are not proof that people are who they claim to be. Images can be altered or stolen. In some cases, predators have even taken over the social media accounts of their victims.
    • Be suspicious if you meet someone on one game or app and this person asks you to start talking on a different platform.
    • Be in the know. Any content you create online—whether it is a text message, photo, or video—can be made public. And nothing actually “disappears” online. Once you send something, you don’t have any control over where it goes next.
    • Be willing to ask for help. If you are getting messages or requests online that don’t seem right, block the sender, report the behavior to the site administrator, or go to an adult. If you have been victimized online, tell someone.

    If you, your child, or someone you know is being exploited via sextortion, contact your local FBI field office, call 1-800-CALL-FBI (1-800-225-5324), or report it online at the Internet Crime Complaint Center (IC3). Additional resources can found at Sextortion and Financially Motivated Sextortion — FBI.  If you believe you are a victim in this particular case, please also contact the United States Attorney’s Office for the Southern District of Mississippi.

    U.S. Attorney Todd Gee recently recorded an Internet Safety PSA warning about the dangers of online predators. 

    An indictment is merely an allegation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

     

    MIL Security OSI –

  • MIL-OSI Security: Five Arrested, Accused of Targeting Elderly Victims in Tech Support Scam

    Source: Federal Bureau of Investigation (FBI) State Crime News

    ST. LOUIS – Five people have been arrested on an indictment that accuses them of stealing at least $8 million from elderly victims in at least ten states via a tech support scam involving gold bars.

    Dariona Lambert, 22, Zhamoniq Stevens, 23, Chintankumar Parekh, 51, Mehul Darji, 41, and Sital Singh, 42, were each charged in a October 4 superseding indictment with one count of conspiracy to commit wire fraud. Lambert, Stevens and Parekh were originally indicted on that charge in June.

    Singh surrendered Monday in Newark, in U.S. District Court for the District of New Jersey. Parekh and Darji were both arrested last week in the Eastern District of Michigan. Lambert and Stevens were arrested on the initial indictment and have pleaded not guilty.

    The indictment accuses the conspirators of contacting elderly victims via telephone calls and electronic messages, falsely claiming that the victims’ savings and retirement accounts had been compromised. They told their victims to transfer funds to the conspirators to keep their accounts secure, the indictment says. Sometimes, the transfers came via gold bars that had been bought by victims and then picked up by couriers working for the fraudsters, the indictment says. Couriers worked with a “handler,” who arranged transportation for the couriers and shipped the gold bars to others, the indictment says.

    An 82-year-old St. Louis woman was one of the victims, having been told by scammers pretending to be from a computer software support team that her financial accounts had been compromised, the indictment says. They said she needed to pay money to prevent her funds from being stolen, the indictment says. The scammers had the victim open new bank accounts, transfer her money into those accounts and wire money overseas, in addition to buying about $250,000 worth of gold bars, the indictment says. On May 1, 2024, Lambert flew from Gainesville, Florida to St. Louis, the indictment says. Parekh rented a car and drove Lambert to a parking lot near the victim’s home, it says. Lambert then took an Uber to the victim’s home to retrieve the gold bars, but was intercepted by law enforcement agents, the indictment says. Lambert sent a warning message via WhatsApp to her conspirators, saying “police,” it says.

    Lambert and Stevens were couriers, and were paid in cash, the indictment says. Parekh, Darji and Singh were handlers and travelled to victims’ residences in order to pick up gold bars, it says. Parekh worked as a handler in gold bar pickups from victims in Yuma and Scottsdale in Arizona; Placentia and La Jolla in California; Largo, Florida; Chapel Hill, N.C.; and Pittsburgh, Penn., the indictment says. Singh worked a handler in gold bar pickups from victims in Collierville, Tenn.; Universal City, Texas; and Greendale, Wisc., it says. Darji worked as a handler in gold bar pickups from the Scottsdale victims and received three separate FedEx packages containing gold bars obtained from the Largo victim, it says. Lambert worked as a courier in Scottsdale; Placentia; La Jolla; Largo; Universal City; Hanover, Mass.; and Erie, Penn., it says. Stevens worked as a courier in gold bar pickups from victims in Yuma; La Jolla; Collier; Largo; Greendale; Oxnard, Calif.; Long Island, N.Y.; and Cincinnati, Ohio, the indictment says.

    “This case is another example of the FBI being able to stop the scam before a victim gets robbed out of his or her life savings,” said Special Agent in Charge Ashley T. Johnson of the FBI St. Louis Division. “We’ve been successful in protecting victims when family members, friends or businesses become suspicious and immediately notify the FBI in time for us to intervene.”

    A motion seeking to have Parekh and Darji held in jail until trial says both are in the United States unlawfully, Parekh having overstayed his work visa and Darji having been removed from the country in 2014. When Parekh was alerted by Lambert that she had been apprehended by the police, he fled Missouri for Pittsburgh, Penn., it says.

    Charges set forth in an indictment are merely accusations and do not constitute proof of guilt.  Every defendant is presumed to be innocent unless and until proven guilty.

    The wire fraud conspiracy charge carries a penalty of up to 30 years in prison, a $1 million fine or both prison and a fine.

    This case was investigated by the FBI and Homeland Security Investigations in Tampa, Florida. Assistant U.S. Attorney Gwen Carroll is prosecuting the case.

    If someone you know is a victim of a cyber scam, report it to the FBI. You can file the complaint online with the FBI’s Internet Crime Complaint Center at http://www.ic3.gov or use 1-800-CALL-FBI.
     

    MIL Security OSI –

  • MIL-OSI Security: NH Learning Solutions Corporation Agrees to Pay $975,000 to Resolve False Claims Act Suit for Allegedly Inflating Post 9/11 GI-Bill Tuition Benefits

    Source: United States Attorneys General

    The Justice Department announced today that NH Learning Solutions Corp. (NHLS) has agreed to pay $975,000 to resolve allegations that it submitted false claims to the Department of Veterans Affairs (VA) for inflated educational assistance benefits under the Post-9/11 Veterans Educational Assistance Act of 2008 (Post-9/11 GI Bill). The United States filed suit against NHLS under the False Claims Act (FCA) in December 2022, in the U.S. District Court for the Eastern District of Michigan. Detroit-based NHLS provided technology-focused, non-college degree programs at locations across the Midwest and Northeast.

    “The Post-9/11 GI Bill was designed to support the educational needs of our veterans, not to permit schools to illegally profit at the expense of the American taxpayers,” said Principal Deputy Assistant Attorney General Brian M. Boynton, head of the Justice Department’s Civil Division. “Today’s settlement shows that the Justice Department will hold schools accountable for violating program requirements and submitting inflated claims for payment.”

    “The Post-9/11 GI Bill benefits are part of our nation’s promise to the brave men and women who have served our country,” said U.S. Attorney Dawn N. Ison for the Eastern District of Michigan. “My office is committed to protecting the integrity of our federal programs to ensure the assistance reaches the intended beneficiaries.”

    “Safeguarding Post-9/11 GI Bill education benefit funds reserved for deserving veterans remains a priority, and our investigators are working diligently in the field to ensure these programs are not exploited for financial gain,” said Special Agent in Charge Gregory Billingsley of the VA’s Office of Inspector General (VA OIG)’s Central Field Office. “The VA OIG thanks the Justice Department for its efforts in this investigation.”

    Under the Post-9/11 GI Bill, the VA pays tuition and fees directly to qualifying schools on behalf of enrolled students. For veteran students properly enrolled in a course, the VA pays the actual net cost for tuition and fees charged by the school, after it has applied any scholarships, waivers, grants or other assistance designed to defray the cost of tuition and fees, which is known as the “last payer rule.” The rule ensures that the VA is the payer of last resort and receives the benefit of any tuition-based, financial support available to a student.

    The government’s amended complaint alleged that NHLS knowingly submitted false claims for inflated tuition and fees, in violation of the last payer rule, at five NHLS locations in Illinois, Ohio and Michigan. More specifically, the government alleged that NHLS repeatedly reported tuition and fees to the VA on student invoices, where it failed to deduct the tuition scholarships, grants or waivers it provided to certain veterans, thereby causing the VA to overpay NHLS for educational assistance benefits under the Post-9/11 GI-Bill for these veterans.  

    The lawsuit is captioned United States v. NH Learning Solutions Corp. No. 2:22-cv-13045 (EDMI). The resolution obtained in this matter was the result of a coordinated effort between the Civil Division’s Commercial Litigation Branch, Fraud Section, and the U.S. Attorney’s Office for the Eastern District of Michigan, with substantive assistance from VA OIG.

    Senior Trial Counsel Christopher Wilson of the Civil Division and Assistant U.S. Attorney Anthony C. Gentner for the Eastern District of Michigan handled the matter.

    The claims asserted against defendant are allegations only. There has been no determination of liability.

    Settlement

    MIL Security OSI –

  • MIL-OSI USA: NH Learning Solutions Corporation Agrees to Pay $975,000 to Resolve False Claims Act Suit for Allegedly Inflating Post 9/11 GI-Bill Tuition Benefits

    Source: US State of North Dakota

    The Justice Department announced today that NH Learning Solutions Corp. (NHLS) has agreed to pay $975,000 to resolve allegations that it submitted false claims to the Department of Veterans Affairs (VA) for inflated educational assistance benefits under the Post-9/11 Veterans Educational Assistance Act of 2008 (Post-9/11 GI Bill). The United States filed suit against NHLS under the False Claims Act (FCA) in December 2022, in the U.S. District Court for the Eastern District of Michigan. Detroit-based NHLS provided technology-focused, non-college degree programs at locations across the Midwest and Northeast.

    “The Post-9/11 GI Bill was designed to support the educational needs of our veterans, not to permit schools to illegally profit at the expense of the American taxpayers,” said Principal Deputy Assistant Attorney General Brian M. Boynton, head of the Justice Department’s Civil Division. “Today’s settlement shows that the Justice Department will hold schools accountable for violating program requirements and submitting inflated claims for payment.”

    “The Post-9/11 GI Bill benefits are part of our nation’s promise to the brave men and women who have served our country,” said U.S. Attorney Dawn N. Ison for the Eastern District of Michigan. “My office is committed to protecting the integrity of our federal programs to ensure the assistance reaches the intended beneficiaries.”

    “Safeguarding Post-9/11 GI Bill education benefit funds reserved for deserving veterans remains a priority, and our investigators are working diligently in the field to ensure these programs are not exploited for financial gain,” said Special Agent in Charge Gregory Billingsley of the VA’s Office of Inspector General (VA OIG)’s Central Field Office. “The VA OIG thanks the Justice Department for its efforts in this investigation.”

    Under the Post-9/11 GI Bill, the VA pays tuition and fees directly to qualifying schools on behalf of enrolled students. For veteran students properly enrolled in a course, the VA pays the actual net cost for tuition and fees charged by the school, after it has applied any scholarships, waivers, grants or other assistance designed to defray the cost of tuition and fees, which is known as the “last payer rule.” The rule ensures that the VA is the payer of last resort and receives the benefit of any tuition-based, financial support available to a student.

    The government’s amended complaint alleged that NHLS knowingly submitted false claims for inflated tuition and fees, in violation of the last payer rule, at five NHLS locations in Illinois, Ohio and Michigan. More specifically, the government alleged that NHLS repeatedly reported tuition and fees to the VA on student invoices, where it failed to deduct the tuition scholarships, grants or waivers it provided to certain veterans, thereby causing the VA to overpay NHLS for educational assistance benefits under the Post-9/11 GI-Bill for these veterans.  

    The lawsuit is captioned United States v. NH Learning Solutions Corp. No. 2:22-cv-13045 (EDMI). The resolution obtained in this matter was the result of a coordinated effort between the Civil Division’s Commercial Litigation Branch, Fraud Section, and the U.S. Attorney’s Office for the Eastern District of Michigan, with substantive assistance from VA OIG.

    Senior Trial Counsel Christopher Wilson of the Civil Division and Assistant U.S. Attorney Anthony C. Gentner for the Eastern District of Michigan handled the matter.

    The claims asserted against defendant are allegations only. There has been no determination of liability.

    Settlement

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Expressions of Interest: Havre des Pas Lido and Concession08 October 2024 The Minister for Infrastructure, Connètable Andy Jehan, has published an expressions of interest document for the Havre des Pas Lido and Concession. The Government welcomes interest from operators who… Read more

    Source: Channel Islands – Jersey

    08 October 2024

    The Minister for Infrastructure, Connètable Andy Jehan, has published an expressions of interest document for the Havre des Pas Lido and Concession.

    The Government welcomes interest from operators who wish to manage the Havre des Pas open seawater pool and its associated concession facility.

    This historic and iconic coastal destination, situated in one of Jersey’s most scenic locations, provides a unique opportunity to contribute to the Island’s community life and visitor economy. 

    The Government is seeking an operator committed to ensuring inclusive, year-round, mixed-use access to this public asset.

    ​The facility should serve the diverse needs of the Island, including families, recreational swimmers, fitness enthusiasts and social groups while enhancing Jersey’s appeal to the local community and visitors.

    Minister for Infrastructure, Connètable Andy Jehan said:

    “The Havre des Pas Lido is a vital public asset, and we want to hear from individuals, businesses, and community groups who would be interested in potentially operating the Lido for the benefit of the community. We are willing to listen to expressions of interest for the operation of the whole site, or for part of the Lido. 

    “This is an important step towards ensuring the year-round inclusive community use of the Havre des Pas Lido, and it will assist us in identifying potential future uses. We are open to all ideas and options, provided that they are built around the interests of the Island community, and especially Islanders living in St Helier. We are confident in creating an exciting future for Havre des Pas and look forward to working in partnership with interested parties to achieve our vision.  

    “A formal tender process will then follow at the conclusion of this expression of interest process.”

    ​

    MIL OSI United Kingdom –

  • MIL-OSI New Zealand: Steely joint operation lands half a tonne of methamphetamine

    Source: New Zealand Police (National News)

    A joint Customs and Police operation has swooped on New Zealand’s second largest importation of methamphetamine, concealed in steel beams.

    Both agencies descended on a rural Waikato property in darkness early on Friday morning, with two men visiting from Australia being arrested in the process of deconstructing the beams.

    Customs earlier located the concealment of 515 kilograms of methamphetamine within the hefty steel beams in early September, after being sent from the United States.

    Customs’ intelligence gathering and associated targeting prompted further investigation of the shipment, which uncovered inconsistencies in some of the 42 steel beams.

    Customs’ Sea Cargo Inspections Facility officers x-rayed selected items in the consignment and conducted other additional examinations which led to the discovery of the large amount of methamphetamine.

    Under Operation Girder, Police’s National Organised Crime Group (NOCG) have worked alongside Customs to identify the group responsible, with warrants being executed across Auckland and the Waikato over recent days.

    All up five men, aged between 31 and 51, have been arrested. All initially appeared in the Auckland District Court on Friday, facing charges relating to the importation and supply of methamphetamine.

    One of these men has been charged with unlawful possession of firearms after a military-style semi-automatic rifle and ammunition were recovered.

    The two men arrested in the Waikato on 4 October are New Zealand passport holders but reside in Australia.

    Detective Inspector Colin Parmenter, from the National Organised Crime Group, says the seizure is a significant disruption to the wider drug market operating within New Zealand.

    “The significant amount seized in this operation is another demonstration of the Police and Customs partnership and commitment to the disruption and dismantling of transnational organised drug networks.

    “It’s estimated that this shipment would have gone on to produce 25.7 million individual doses of this destructive drug, and preventing this harm is a key motivation for our staff.

    “The organised criminal groups looking to profit from this type of offending will continue to be a key focus of our attention and resources.

    This seizure is yet another example of the work being carried out to make New Zealand more resilient to transnational organised crime, Detective Inspector Parmenter says.

    Investigations will continue and further arrests cannot be ruled out.

    Customs says the operation shows law enforcement in New Zealand continues to successfully combat transnational organised crime.

    “Customs’ intelligence gathering and targeting have played a critical role in detecting this smuggling attempt and identifying people responsible,” Customs’ Group Manager Intelligence, Investigations and Enforcement, Terry Brown, says.

    “This joint operation has yielded intelligence that will lead to further enforcement opportunities for Customs and Police and has prevented more than $570 million in harm to New Zealand communities and our economy.

    “The method and scale of this smuggling operation clearly illustrate the amount of efforts organised crime groups are willing to go to but our seizure and the arrests Police have made equally show the skill and determination investigations and enforcement teams will apply to detect, disrupt and dismantle these criminal efforts,” Mr Brown says.

    Anyone with suspicions about possible smuggling should contact Crime Stoppers anonymously on 0800 555 111 or Customs confidentially on 0800 WE PROTECT (0800 937 768).

    ENDS.

    Jarred Williamson/NZ Police

    MIL OSI New Zealand News –

  • MIL-OSI Germany: Deutsche Bundesbank updates impact of Basel III reform package

    Source: Deutsche Bundesbank in English

    Implementation in the EU of the Basel III reform package will lead to a 3.3% increase in minimum required capital (MRC) by 2030 for a sample of 36 German financial institutions. The Bundesbank calculated this result in a study based on data from large institutions in particular. Once the transitional arrangements cease to apply in 2033, the institutions in the sample are expected to see a 10.9% increase in MRC. The study published today[1] thus broadly confirms the results of the previous year. It corroborates the finding that the German banking sector will be well able to handle the impact of the revised Basel III reform package.
    It should be noted that the sample is dominated by large banks which use internal models and that small and medium-sized institutions are extremely underrepresented. A rough extrapolation for Germany’s banking sector as a whole shows that increases in the range of 8% can be expected by 2033 (see the chart). Specifically, this translates to an aggregate increase in tier 1 MRC of €30 billion up to 2033. By way of comparison, the banking system currently holds around €165 billion in common equity tier 1 (CET1) capital above the required amount.

    © Deutsche Bundesbank
    (only in German) 
    Since 2011, the Bundesbank has been examining the impact of the Basel III reform package in conjunction with the European Banking Authority (EBA) and the Basel Committee on Banking Supervision (BCBS). The 25th such exercise was carried out for the reporting date of 31 December 2023, with a total of 36 institutions from Germany participating.
    The study reports that full phase-in of the Basel III reform package would lead to an 8.7% increase in MRC.[2] This calculation is based on the BCBS methodology, which solely includes the internationally standardised G-SII buffer and the capital conservation buffer. In contrast to this, the aforementioned results relating to EU implementation include the national O-SII buffers and the Pillar 2 requirements.
    Notes to editors: In parallel with the Bundesbank, the EBA and the BCBS published their Basel III monitoring reports on 7 October 2024. The quantitative impact study for the EU (EBA) covers 159 institutions from 30 countries and the report at the international level (BCBS) encompasses 180 institutions from 26 countries.
    Footnotes:
    The final amendments to the Capital Requirements Regulation (CRR III, http://data.europa.eu/eli/reg/2024/1623/oj) and Capital Requirements Directive (CRD VI, http://data.europa.eu/eli/dir/2024/1619/oj) were published in the Official Journal of the European Union in June 2024. CRR III becomes binding as of 2025.
    The increase is down 4.8 percentage points from the previous year’s impact analysis. One reason for these changes as against the previous year is the 2023 introduction of the G-SII buffer for the leverage ratio in the EU.

    MIL OSI

    MIL OSI German News –