Presidents Xi Jinping and Donald Trump at the G20 Summit on July 7, 2017, in Hamburg, Germany. Mikhail Svetlov/Getty Images
On June 5, U.S. President Donald Trump held a phone call with Chinese President Xi Jinping. It marked the first direct conversation between the two leaders since Trump began his second term — and the first since tensions sharply escalated in 2025’s U.S.-China trade war.
After the call, Trump was quick to frame it as a success for his administration, posting on social media that it led to “a very positive conclusion for both Countries.” He later told reporters that Xi had agreed to resume exports of rare earth minerals and magnets to the U.S. — allaying the fears of the auto industry, which had previously warned that parts suppliers were facing severe and immediate risks to production.
The presidential phone call also yielded an invitation for Trump and first lady Melania to visit China, an invitation that Trump reciprocated.
But aside from the easing of some trade tension and surface-level niceties, the call conveyed subtle messages about an imbalance in the bilateral dispute. As an expert on U.S.-China relations, I believe these subtleties point to Xi having the upper hand in U.S.-China talks and also using Trump as a foil to burnish his own image as a strong leader at home and abroad.
A rare earths ace
The Trump-Xi call should not distract from the fragile state of China-U.S. relations — and the willingness of Beijing to play its “rare earth materials card.”
Although China and U.S. delegations reached a 90-day tariff truce in Geneva on May 12, negotiations between the two countries remain ongoing. As many observers have noted, deep-rooted and structural differences — such as disputes over currency manipulation, export subsidies and other nontariff barriers — continue to cast a long shadow over the prospects of U.S-China trade talks.
Beijing, in turn, accuses the U.S. of breaking the Geneva agreement first and blames Washington for rolling out a wave of discriminatory measures against China after the talks, including new export controls on artificial intelligence chips, a ban on selling electronic design automation software to Chinese companies, and plans to revoke visas for Chinese students.
Trump’s order banning American companies from using AI chips by China-based Huawei — issued just one day after the Geneva agreement on May 12 — was seen by many in Beijing as directly countering the spirit of the agreement. Indeed, it may well have prompted Beijing to delay the resumption of rare earth exports to the U.S. in the first place.
Aside from the actual effect of the resumption of rare earth exports, Trump’s apparent priority given to the issue signals to Beijing just how reliant the U.S. is on China in this regard — something that would not have gone unnoticed by Xi.
Xi never came calling
Just one day before the June 5 call, Trump wrote on social media: “I like President XI of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH!!!”
His conversation with the Chinese leader would have further reinforced Xi’s tough image — not just for a Chinese audience, but for international observers as well.
This was certainly encouraged by how China described the call. According to China’s official statement, Xi “took a phone call from U.S. President Donald J. Trump” – the subtle implication being that it was Trump who initiated the call.
This framing promotes the idea that Xi holds the upper hand. The Chinese statement also highlighted that the Geneva talks were “at the suggestion of the U.S. side,” implying that China did not back down in the face of Trump’s trade pressure — and that it was Trump who ultimately blinked first.
China’s message is particularly significant given that, as the U.S.-China trade war intensified in April, Washington believed it could gain “escalation dominance” by imposing tariffs on Chinese goods — perhaps underestimating China’s ability to retaliate effectively and assuming Beijing would be eager to negotiate.
Throughout the trade standoff, Xi refrained from initiating contact with Trump, and in the end, it was Trump who reached out.
This undoubtedly enhanced Xi’s image back home — and potentially undermined Trump’s negotiating posture.
The official Chinese statement following the talks noted: “The Chinese side is sincere about this, and at the same time has its principles. The Chinese always honor and deliver what has been promised. Both sides should make good on the agreement reached in Geneva.”
Those words appear aimed at signaling to the international community that it is the U.S. — not China — that failed to uphold its end of the Geneva agreement.
The second-to-last paragraph of the Chinese statement on the phone call noted: “President Trump said that he has great respect for President Xi, and the U.S.-China relationship is very important. The U.S. wants the Chinese economy to do very well. The U.S. and China working together can get a lot of great things done. The U.S. will honor the one-China policy. The meeting in Geneva was very successful, and produced a good deal. The U.S. will work with China to execute the deal. The U.S. loves to have Chinese students coming to study in America.”
While much of this language may be standard diplomatic rhetoric, it clearly aims to box in Trump as the supplicant in the current dispute and implies that he is moving closer to China’s positions, including key nontrade issues like U.S. visas for Chinese students.
A game of telephone?
Aside from the optics or broader question of who is “winning” the dispute, the Trump-Xi call has certainly eased some tensions on both sides — at least temporarily.
For the U.S., concerns over rare earth supplies were alleviated. Since the call, it has been reported that China has issued temporary export licenses to companies that supply rare earth materials to America’s three largest automakers.
For China, Trump’s remarks seemingly helped reduce anxiety over issues such as Taiwan and student visa restrictions.
But given the deep and fundamental differences between the two countries on trade and economic matters — and recalling how trade negotiations repeatedly stalled and restarted during Trump’s first term — there is good reason to believe that future talks could face similar setbacks.
But what is clear now, especially compared with the trade war during Trump’s first administration, is that Beijing appears better prepared and more skilled at leveraging its rare earth exports as a bargaining chip.
In many ways, Trump faces the greater pressure in his handling of Xi. Should talks collapse, any resulting supply chain disruptions could lead to rising inflation, market volatility and economic woe for the U.S. — with the associated risks of political fallout ahead of the midterm elections. Xi will know this and, in rare earth materials, has an ace up his sleeve to pull out when needed.
Indeed, Trump may find himself needing to reach out to Xi again in the future in an effort to revive troubled trade negotiations. But doing so would only reinforce Xi’s image as the tougher and more dominant figure.
Linggong Kong does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
President Donald Trump’s promise to eliminate taxes on tips may sound like a windfall for service workers — but the fine print in Congress’ latest tax bill tells a more complex story.
The idea started getting attention when Trump raised it during a 2024 campaign stop in Las Vegas, a place where tipping is woven into the economy. And the headlines and press releases sound great — especially if you’re a waiter, bartender or anyone else who depends on tips for a living. That may be why both Democrats and Republicans alike broadly support the concept. However, like most of life, the devil is in the details.
I’m a business-school economist who has written about tipping, and I’ve looked closely at the language of the proposed laws. So, what exactly has Trump promised, and how does it measure up to what’s in the bills? Let’s start with his pledge.
The promise of money that’s ‘100% yours’
Back in January 2025, Trump said, “If you’re a restaurant worker, a server, a valet, a bellhop, a bartender, one of my caddies … your tips will be 100% yours.” That sounds like a boost in tipped workers’ income.
But when you look at the current situation, it becomes clear that the reality is far more complicated.
First, the new tax break only applies to tips the government knows about — and a lot of that income currently flies under the radar. Tipped workers who get cash tips are supposed to report it to the IRS via form 4137 if their employer doesn’t report it for them. If a worker gets a cash tip today and doesn’t report it, they already get 100% of the money. No one really knows what percentage of tips are unreported, but an old IRS estimate pegs it at about 40%.
What’s more, the current tax code defines tips only as payments where the customer determines the tip amount. If a restaurant charges a fixed 18% service charge, or there’s an extra fee for room service, those aren’t tips in the government’s eyes. This means some tipped workers who think service charges are tips will overestimate the new rule’s impact on their finances.
How the new bills would affect tipped workers
The “Big Beautiful Bill” would create a new tax code section under “itemized deductions” This area of the tax code already includes text that creates health savings accounts and gives students deductions for interest on their college loans.
What’s in the new section?
First, the bill specifies that this tax break applies just to “any cash tip.” The IRS classifies payments by credit card, debit card and even checks as “cash tips.” Unfortunately for workers in Las Vegas, noncash tips, like casino chips, aren’t part of the bill.
While the House bill limits the deduction to people earning less than US$160,000 the Senate bill caps the deduction to the first $25,000 of tips earned. Everything over that is taxed.
Second, the current House bill ends this special tax-free deal on Dec. 31, 2028. That means these special benefits would only last three years, unless Congress extends the law. The Senate bill does not include such a deadline.
Third, the exemption is only available to jobs that typically receive tips. The Treasury secretary is required to define the list of tipped occupations. If an occupation isn’t on the list, the law doesn’t apply.
I wonder how many occupations won’t make the list. For example, some camp counselors get tips at the end of the summer. But it’s unclear the Treasury Department will include these workers as a covered group, since counselors only make up a proportion of summer camp staff. Not making the list is a real problem.
And while the new proposal gives workers an income tax break, there’s nothing in either bill about skipping FICA payments on the tipped earnings. Workers are still required to contribute slightly more than 7% in Social Security and Medicare taxes on all tips they report, which won’t benefit them until retirement. This isn’t an oversight — the bill specifically says employees must furnish a valid Social Security number to get the tax benefits.
There are a few other ways the legislation might benefit workers less than it seems at first glance. Instituting no taxes on tips could mean tipped employees feel more pressure to split their tips with other employees, like busboys, chefs and hosts. After all, these untipped workers also contribute to the customer experience, and often at low wages.
The specifics of any piece of legislation are subject to change until the moment Congress sends it to the president to be signed. However, as now written, I think the bills aren’t as generous to tipped workers as Trump made it sound on the campaign trail.
Jay L. Zagorsky does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Source: United Kingdom – Executive Government & Departments
Scientists comment on news that the UK government is investing in a nuclear plant at the Sizewell C site and a small modular reactor programme.
Prof Patrick Regan, Professor of Nuclear Metrology, University of Surrey, said:
“The announcement that the UK government has committed £14.2bn of investment to build European Pressurized Reactors (EPRs) at the Sizewell C site will contribute to the UK tackling the delicate balance between ever-increasing secure energy requirements and our commitment to achieving net-zero. The EPRs planned at Sizewell C represent Generation 3+ technology and build on more than 70 years of operational reactor experience worldwide to provide the cleanest, safest and most efficient form of nuclear power yet.
“This large investment, however, brings with it the obvious need to produce and maintain a highly skilled, expert workforce related to all phases of the Sizewell C project. Science and Engineering Apprentice, Graduate and Post-Graduate training in areas such as chemical engineering, material science, nuclear physics & radiochemistry, environmental monitoring, radiation measurement and health physics will be key in enabling ‘life-long’ UK-based careers in this industry, in line with such a far horizon project. This is a long-term investment in the UK’s national infrastructure, and it needs a skilled workforce to ensure its ultimate success.”
Dr Phil Johnstone, Principal Research Fellow, University of Sussex Science Policy Research Unit, Patron of Nuclear Information Service, Member of Sussex Energy Group, and Member of Nuclear Consultation Group:
Is this a good move?
“The decision on Sizewell C is a bad move. It will likely lead to increasing costs for UK electricity consumers and represents a significantly slower means of combatting climate change than alternative options. The announcement comes alongside the decision to select submarine reactor manufacturer Rolls Royce as the winning bidder to develop Small Modular Reactors. These are part of the same underlying goal: to sustain the UK military nuclear industrial base via subsidies from civil nuclear power, with democratic scrutiny of this strategy almost entirely absent.”
Prof Andy Stirling, professor of science and technology policy at the University of Sussex Science Policy Research Unit:
Is this a good move (or not) when it comes to energy and fossil fuels?
“It is well acknowledged behind the scenes (but denied in public), that this move is more intended to support the kind of nuclear industrial base needed for military than for climate reasons. Nuclear power stations like Sizewell C are so slow and expensive compared to renewables and storage strategies, that they erode rather than enhance climate action.”
What does this mean for UK energy production? Is there overspeculation?
“This will make UK energy production needlessly more expensive, less secure and less effective in climate terms, than if the same money had been spent on renewables and energy storage.”
What does the science say?
“On this as on many other policy issues, what counts as ‘the science’ is more uncertain and context-dependent than any side typically implies. If either nuclear advocates or critics claim their arguments to be uniquely or unequivocally science-based then that is a sign that they are seeking to mislead.”
Dr Sarah Darby, Emerita Research Fellow, Energy Programme, Environmental Change Institute, University of Oxford, said:
“The argument that building Sizewell C will be markedly cheaper and quicker than Hinkley C is weak. Hinkley C is ‘first of a kind’ in the UK but has the same design as Olkiluoto in Finland and Flamanville in France. These two have been, respectively, over 10 years late and almost four times over budget [1] and over 12 years late and over four times over budget in real terms [2,3]. Neither is yet working reliably [4,5].
“The unfinished Hinkley C was reported by EdF last year as already 90% over budget and 7 years late – and EdF do not expect it to be finished before 2029-31.
“In the light of these figures from three power plants of the same design as SZC, Ed Miliband’s forecast of a 10-year build time looks wildly optimistic. Where cost and complexity are concerned, there is the additional concern about the SZC site being on a flood-prone and eroding coastline, with sea levels on the rise.
“EdF are now wholly owned by the French government, following their extreme financial difficulties, and it is unclear whether they will take any stake at all in SZC. This is hardly a vote of confidence in the prospects of their own design.
“The argument that nuclear build helps with climate goals is similarly weak. New nuclear would arrive too late to assist – renewables already supply over half of UK generation [6] – and are on the rise. The massive sums involved are money not spent on quicker and more effective moves towards energy transition. Bloomberg NEF’s latest assessment of energy transition investment trends* refers to renewables, energy storage, electric vehicles, and power grids as ‘proven, commercially scalable [and with] established business models’, yet categorises nuclear power as an ‘emerging’ technology, with investment held back by lack of affordability and technology maturity [7].
“Nuclear is being presented by the Government as complementary to renewables, for ‘when the sun doesn’t shine and the wind doesn’t blow’. But what we need for these times – and for times of abundant renewable supply – is flexibility from storage and demand-side response, not large-scale inflexible power plants that cannot easily be turned down or up and that can be shut down at a moment’s notice [5,8].
“As so often, the debate is focused on supply rather than demand – what we use energy for. The government are citing figures of a doubling of demand by 2050 that are certainly not set in stone and likely to be exaggerated. AI demands are the new kid on the block but, as DeepSeek has shown, they need not be nearly as high as is often made out. There is still plenty of scope to improve energy security through energy efficiency, allied with storage and demand-side response, without compromising quality of life [9].
“Successive governments have already sunk £6.4bn of taxpayers’ money into Sizewell C, but this is no reason to compound the error. A further £14.2bn is substantial but falls a long way short of the £40bn ‘overnight’ cost estimated by the FT [10]. Further, this £40bn estimate does not take into account the costs of capital, decommissioning and disposal of waste. The last of these is itself a topic of major concern to the Public Accounts Committee [11].
“It is not too late to avoid a FID for Sizewell C and to steer funding in more productive directions, including modernisation of the electricity grid, energy efficient buildings and transport systems, and storage. Such investment could create jobs and improve living conditions around the country.”
Stephanie Baxter, Head of Policy, Institution of Engineering and Technology, said:
“The £14.2 billion of funding announced today for the development of Sizewell C, alongside selecting Rolls-Royce SMR as the preferred bidder to develop the UK’s first small modular reactors, marks an important step forward towards nuclear playing a significant role in the UK’s energy mix.
“Nuclear infrastructure, both large and small, will be needed in our energy system if the UK is to have a secure, affordable and sustainable energy system for 2030 and beyond. However, the Government must also take a whole system view of the wider energy system to ensure new nuclear infrastructure compliments other energy generation and distribution resources currently deployed and being developed.
“Significant infrastructure projects such as these rely on long-term stability – in the supply chain, regulations and the skills pipeline. That is why today’s announcements must be backed up by clear plans for delivery, including engagement with local communities.
“These ambitions will also not be met without the skilled engineering and technician workforce that will be critical to delivering and maintaining new nuclear infrastructure.
“Great British Energy must work closely with Skills England to ensure that these plans are backed by a long-term workforce strategy to deliver skilled job opportunities across the country – both by training up new workers in schools and colleges, and upskilling/reskilling the existing workforce through flexible funding in the Growth and Skills Levy.”
Will Davis, Nuclear Expert and a Member of the Institution of Engineering and Technology’s Sustainability and Net Zero Policy Centre, said:
“Today’s announcements are a clear demonstration of the government’s long-term commitment to low-carbon energy security, extending beyond the 2030 clean power target and taking concrete steps toward achieving net zero by 2050.
“To meet our net zero ambitions, we must significantly scale up electricity generation – by two to three times current levels – and this will only be possible through large-scale projects like Sizewell C and the Small Modular Reactor (SMR) programme.
“While these developments are both welcome and necessary, the UK nuclear industry must address its ongoing credibility challenges around delivering projects on time and within budget. Unlike the UK’s Hinkley Point C, nuclear projects in countries like China and the UAE have avoided major delays. Learning from these international examples is essential if we are to attract private investment and reduce reliance on gas-fired power stations.
“The selection of a preferred bidder for the SMR fleet is a long-awaited milestone – over a decade in the making – and we’re pleased to see it finally progressing.
“The clarification of roles between Great British Energy and Great British Energy – Nuclear, with NESO overseeing the critical upgrades to our national electricity infrastructure is welcomed. These upgrades are vital and must be properly funded, not treated as an afterthought.
“With the announcements on Sizewell C and SMRs, we urge the government to clarify its position on future gigawatt-scale nuclear projects, such as the previously proposed development at Wylfa.
“New nuclear power stations require a high-tech supply chain and a highly skilled workforce. Investment in key manufacturers like Sheffield Forgemasters is encouraging, but broader supply chain investment hinges on project certainty – contracts must be signed.
“The IET continues to support the sector through initiatives like the Nuclear Skills Taskforce. We’re also pleased to see continued investment in STEP, the UK’s prototype fusion power plant. A £2.5 billion commitment is significant and deserves more visibility.
“However, we note the absence of updates on advanced nuclear technologies, which could play a crucial role in decarbonising hard-to-abate sectors such as steelmaking and hydrogen production. We hope to see further clarity on this soon.”
Dr Lewis Blackburn, Lecturer in Nuclear Materials, University of Sheffield, said:
“Today the UK government demonstrated a clear and renewed commitment to nuclear fission as a means to achieve Net Zero, a key goal that was outlined in the 2024 White Paper “Civil Nuclear: Roadmap to 2050”. This comes in the form of an approximately £14B commitment to the Sizewell C project, comprising two EPR (European Pressurised Reactors) delivering a total of 3.2 GWe. The project is forecast to support 70k jobs and produce enough energy to power 6M UK homes. Today’s news also comes alongside an announcement that Rolls-Royce have been identified as the preferred bidder to construct the UK’s first Small Modular Reactors (SMR) – a fleet of smaller fission reactors designed to be built ‘modular’ on a production line, prior to shipping and assembly on-site.
“The UK faces a potential skills challenge in the field of nuclear engineering and projects like Sizewell C and Rolls-Royce SMR offer an exciting opportunity to build a skills pipeline, increasing the number and diversity of people entering the nuclear workforce, and bolstering the supply chain.
“In order for the UK to maintain its international reputation as a leader in civil nuclear, it must continue to invest heavily in new infrastructure, the wider industrial supply chain and R&D. Thus, producing the next generation of nuclear expertise in both the industrial and academic sectors, equipping them with the skills required for the UK to continue to utilise nuclear fission, safely, for generations to come.
“An important aspect of this is ensuring that highly radioactive waste, generated as a by-product of nuclear fission, is not passed onto future generations and is permanently disposed of. In this area, the UK is in the process of siting a geological disposal facility – a dedicated site wherein intermediate and high-level radioactive waste will be isolated from the wider environment permanently. The international consensus in the wider scientific and technical community is that this is the only feasible way to safely manage such wastes, ensuring passive safety. This is the focus of significant R&D in both the technical and academic space.”
Dr Mark Foreman, Associate professor of Nuclear Chemistry / Industrial Materials Recycling, Chalmers University of Technology, Sweden, said:
“Building a new power plant based on light water reactors at Sizewell is a good idea, it will provide a reliable supply of electric power which will help society reduce its dependency on fossil fuels. I hold the view that it will be a safe means of providing for the energy needs of society. Many critics of nuclear power use the example of the Chornobyl accident to argue that all nuclear power plants are unsafe. This is unreasonable, operating the Chornobyl reactor in the same way as it was just before the accident can be thought of as like roller blading along the M1. While running modern (or even a 1980s era) light water reactor is like calmly driving a Volvo equipped with all the latest safety features along the M1.”
Prof Robin Grimes FRS FREng, Professor of materials physics, Imperial College London, said:
“Large plants such as Hinckley, currently under construction and this announced plant at Sizewell are very good at providing constant base load electricity capacity. They are also good for supporting grid stability and providing inertia. Of course they offer generation diversity and energy security. They will offer these benefits for many decades. As we turn to more electricity use to reduce carbon emissions we will need more nuclear electrify. However, large plant are less good at helping with the inherent intermittency of renewables. For this we need the greater flexibility as provided by small modular reactors or the higher temperatures of advanced modular reactors which offer access to more technology options for decarbonisation. I therefore see this announcement as part of the systems approach by which we progress to greater energy security and decarbonisation.”
Prof David Armstrong, Professor of Materials Science and Engineering (Department of Materials), University of Oxford, said:
“This is excellent news for the UK energy landscape. As the UKs aging AGR fleet retires new baseload energy is required. Sizewell C will sit alongside Hinkley Point B to provide sustainable emission free baseload energy complementing the growing wind and solar power and making a significant contribution to UK energy security.”
Dr Iain Staffell, Associate Professor of Sustainable Energy at the Centre for Environmental Policy, Imperial College London, said:
“Today’s decision is an important one, but even with Hinkley C and Sizewell C, the UK’s nuclear capacity in the 2030s will still be below its 1990s peak.
“After a decade of dithering, Sizewell C is a litmus test of the UK’s ability to deliver complex infrastructure on schedule.
“This deal lives or dies on its delivery. Sizewell C must be built on time and on budget, learning from the (many) mistakes from Hinkley Point C and other UK mega-projects.
“Nuclear power offers a strong energy security hedge. Fuel and key parts can be stockpiled, insulating consumers from foreign instability and gas price spikes.
“Sizewell C won’t start generating for nearly a decade if it is built on time, so it only just contributes towards the Government’s 2035 clean-power goal. But, it is building for the long-term, and will deliver carbon-free electricity well into the 2080s.
“People are rightly concerned by the environmental impacts and emissions from the enormous construction project, but compared to the scale of energy production over the next six decades, nuclear remains one of the cleanest power sources we have.
“The upfront cost is undoubtedly high. £14 billion could fund around 10 GW of offshore wind versus just 3.2 GW of nuclear. But, these reactors will run day and night, especially valuable when the wind is not blowing.”
Louis Barson, the Institute of Physics Director of Science, Innovation and Skills said:
“It is good to see this decision made about developing Sizewell C. New nuclear will play a vital role in bringing reliable, secure and affordable power to new markets, decarbonising industry and helping countries meet their net zero commitments – as part of our future low-carbon energy mix.
“But we need to make sure we also pay attention to the desperate need for hundreds of thousands of skilled workers to support both this project and the development of smaller, modular, nuclear reactors.
“Signing off on Sizewell C is only half the picture, we need the nuclear-ready scientific workforce to make it a reality: that means more physics teachers, well-funded physics departments in universities and a healthy pipeline of physics talent.”
Tom Greatrex, Chief Executive, Nuclear Industry Association, said:
On Sizewell C Given Go-Ahead from Government
“This is a momentous day for Sizewell C and for the British nuclear programme. Sizewell C is one of Britain’s most important clean power projects, and will give the country the jobs, the economic growth and the energy security we need to ensure a secure and reliable power supply for the future. This record investment confirms the government is serious about building new nuclear and all the economic benefits that come with it, and will be welcomed in communities the length and breadth of Britain.”
On Rolls-Royce SMR Winning the UK SMR Competition
“This is a hugely significant moment for Rolls-Royce SMR and for the British nuclear programme. These SMRs will provide essential energy security and clean power alongside large scale reactors, all the while creating thousands of well-paid, skilled jobs, opportunities for growth right across the country and significant export potential. We look forward to working with Rolls-Royce SMR and all other potential SMR vendors, including those not successful today, on making Britain the best place to build new nuclear anywhere in the world.”
Prof Mark Wenman, Professor in Nuclear Materials, Imperial College London, said:
“This is a big step forward. Since the 1990s the amount of nuclear energy the UK produces has been steadily declining from around 12 to 4.5 GWe today. Sizewell C will help reverse this trend and further provide the UK with energy security. It will help balance the grid with the increase of renewables, replace fossil fuel plants and protect us against potential blackouts, as recently seen in Spain. Whilst the costs may seem high initially, this needs to be balanced against the fact that these reactors will produce low carbon electricity for 80 or possibly 100 years, 24/7, providing around a tenth of the current UK electricity needs. Once paid for, nuclear reactors produce the cheapest electricity of any kind, so this investment should be seen as future proofing the UK electricity system.”
Prof Adrian Bull,Chair in Nuclear Energy and Society, Dalton Nuclear Institute, University of Manchester, said:
“It’s very welcome news to see the announcements today of Government support for a new wave of nuclear power in this country. We’ve known for decades that reliance on imported gas could ruin the environment – but recent years showed us that it can ruin the economy too. Nuclear gives much-needed resilience against global fossil fuel prices, without emitting the gases that cause climate change, so it’s excellent news that we are going to see new plants – both large and small – built.
“I’m especially pleased that we have finally got over our national phobia of replicating a previous project. We’ve never done that in our UK nuclear fleet before, but the rest of the world learned ages ago that series construction is the route to certainty over the time and budget for such projects. Doing the same things at Sizewell which we have already done at Hinkley Point is much easier than starting from scratch to build a massively complex plant for the first time.
“The announcement of Rolls Royce as the winner of the SMR competition is a welcome sign of progress, but it’s disappointing to see only one winner selected, when we had all anticipated more. Government has long been supporting the Rolls Royce SMR project – with over £200m of public funds provided already – so it was inconceivable they would not be on the podium at the end of the race. Seeing them there alone makes the two years spent by Great British Nuclear on running a competition look like time and effort that could have been better spent.
“Overall though, these nuclear plants – whilst not cheap – will produce reliable, low carbon electricity around the clock and will most likely do so for the best part of a century. This is an investment in our grandchildren’s future as well as helping towards our 2050 climate goal.”
Prof Dame Sue Ion GBE FREng FRS, a Fellow of the Royal Academy of Engineering, said:
“It’s really good news that the Government is finally taking steps to ensure that nuclear energy plays the vital role it should in achieving significant quantities of stable low carbon electricity. Perhaps as importantly, if not more so, is the news that Rolls Royce’s Small Modular Reactor has been selected as the technology of choice to progress the opportunity presented by SMRs. These systems are designed from the outset to be modular, with modern construction techniques using much more factory fabrication, so they will be faster and easier to build.”
Prof Tom Scott, Professor in Materials, University of Bristol, said:
“This is an extremely important strategic step for the UK towards achieving net zero carbon emissions. Nuclear energy is a safe, secure and reliable form of electricity generation. With the lessons learnt from the Hinkley Point C project, and with the experienced workforce and supply chain that has been established because of it, my expectations are high for the delivery of Sizewell C at a much lower cost and shorter timescale.
“The announcement about Government investment in Sizewell C and more excitingly, about the investment in Small Modular Reactors (SMRs), really shows the Government’s understanding and commitment towards nuclear as a key part of the solution towards achieving zero carbon emissions in the UK.
“SMRs offer the potential for providing new nuclear power stations much faster and more cheaply than conventional large-scale light water reactors like Hinkley Point C. Ultimately, the roll-out of SMRs delivered by British companies like Rolls-Royce will help to keep our electricity prices low whilst also generating high-value jobs across the U.K. This is a smart investment for the UK.”
Dr Mark Foreman, Associate professor of Nuclear Chemistry / Industrial Materials Recycling, Chalmers University of Technology, Sweden, said:
“Building a new power plant based on light water reactors at Sizewell is a good idea, it will provide a reliable supply of electric power which will help society reduce its dependency on fossil fuels. I hold the view that it will be a safe means of providing for the energy needs of society. Many critics of nuclear power use the example of the Chornobyl accident to argue that all nuclear power plants are unsafe. This is unreasonable, operating the Chornobyl reactor in the same way as it was just before the accident can be thought of as like roller blading along the M1. While running modern (or even a 1980s era) light water reactor is like calmly driving a Volvo equipped with all the latest safety features along the M1.”
Prof Adrian Bull: “I am a (paid) part time Professor at the Dalton Nuclear Institute, part of the University of Manchester; I am a (paid) consultant for US nuclear communications consultancy Full On Communications; I am an (unpaid) Board member of the Northern Nuclear Alliance; I am an (unpaid) Trustee of the Nuclear Institute; and am also the President-Elect, taking over in Jan 2026.”
Prof Dame Sue Ion: “Sue is Honorary President of the National Skills Academy for Nuclear.” “Sue is also a member of the Nuclear Regulatory Task Force.”
Prof Tom Scott: “In terms of interests, I am Director of the Spur West Nuclear Hub and Professor of Nuclear Materials at the University of Bristol sponsored by the Royal Academy of Engineering and the UK Atomic Energy Authority.
The nuclear hub is a consortium of academic, industrial and governmental partners coalescing around the requirement for research, skills and innovation in the UK nuclear sector.”
Dr Mark Foreman: “I have worked on advanced nuclear reprocessing for years and have also have worked on nuclear reactor safety issues. I have done and supervised research on the chemistry of nuclear accidents.”
Prof Mark Wenman “I have previously received funding for research from EDF Energy, Rolls-Royce, the UK National Nuclear Lab”
Tom Greatrex “The NIA is funded by its 320 member companies from across the civil nuclear industry.”
Dr Iain Staffell “I receive industry funding from a several companies in the UK and European energy sector, I try to keep this balanced so as not to over-represent any one technology or organization. Recent funding sources include: Drax, Octopus, SSE, HM Government, NESO (National Grid), EWE, Aurora, Baringa, Shell, Uniper, SLB, and the World Bank.”
Prof David Armstrong “I’ve had funding from UKAEA, Rolls Royce and EdF for research and students over the last 20 years.”
Prof Robin Grimes “I am a non-executive director of UKAEA and receive research funding from the UK national nuclear laboratory.”
Dr Mark Foreman “I do not currently get any money from the nuclear industry, I do not stand to make any money from the sales of nuclear products / technology. I have not been employed by the nuclear industry. I think that in terms of conflicts of interest I have none.”
Dr Lewis Blackburn“He receives funding from industry via Nuclear Decommissioning Authority, National Nuclear Laboratory, and Nuclear Waste Services”
Stephanie Baxter “No conflicts of interest.”
Will Davis “No conflicts of interest.”
Prof Andy Stirling “no conflicts of interest to declare.”
Dr Phil Johnstone “no conflicts of interest to declare.”
Dr Sarah Darby “I have no conflicts of interest to declare.”
For all other experts, no reply to our request for DOIs was received.
Applications will open for the fifth year of the Marine Fund Scotland today.
The fund will make £14 million available in 2025-26 to help deliver Scotland’s Blue Economy Vision, transform the way the marine environment is used and how Scotland’s ‘blue’ resources are managed.
Eligible individuals, businesses, and organisations can apply for funding for new projects that will contribute to an innovative and sustainable marine economy, support coastal communities, and help Scotland reach net zero emissions.
Last year, a total of 67 projects received funding, with grants ranging from under £1,000 up to £1.6 million. These projects included the modernising of seafood processing facilities to reduce energy consumption and improve efficiency; the first Scottish facility to recycle mixed material from fishing and aquaculture nets and marine litter prevention; support for young fishers purchasing their first fishing vessel; and marine research and innovation to protect iconic wild salmon.
Cabinet Secretary for Rural Affairs, Land Reform and Islands Mairi Gougeon said:
“Since 2021 the Marine Fund Scotland has awarded more than £55 million in grants to 330 projects, facilitating a total of £121 million of investment and supporting jobs and communities right around our coastline and throughout our islands. I urge all those with ideas for projects to help marine industries to evolve and flourish to apply.
“We are backing Scotland’s marine economy, which is crucial to the economic, social and cultural fabric of our rural, coastal and island communities. They now need the UK government to do the same and to provide Scotland with its fair share of funding.
“The UK Government recently announced a new £360 million Fishing and Coastal Growth Fund, and I am calling for a fair share of the budget allocation to be devolved. This multi-year funding will be key to delivering benefits for the marine economy and environment, as well as supporting coastal communities, for years to come. If this newly announced funding isn’t devolved to Scotland, it will duplicate the current funding programmes, causing stakeholder confusion and dilution of intended benefits.”
Donna Fordyce Chief Executive of Seafood Scotland said:
“The Marine Fund Scotland funding has been vital to not only retain existing markets for our premium Scottish seafood but to develop new markets to achieve the highest value for the industry. Funding also allowed Seafood Scotland to further develop the Seafood in Schools programme launching the Scottish Seafood Ambassador scheme and Teach the Teacher curriculum-linked educational resources. The aim is to increase consumption of our delicious seafood and highlight the sector as a career of choice; this is very relevant given the labour shortage the industry is currently facing.”
June 9, 2025 – Ottawa, Ontario – Global Affairs Canada
The Honourable Anita Anand, Minister of Foreign Affairs, today announced that she will welcome Deputy Prime Minister,
Minister of Foreign Affairs, Foreign Trade, Cooperation, and Humanitarian Affairs of Luxembourg, Xavier Bettel, to Ottawa from June 10 to 12, 2025.
Minister Anand and Minister Bettel will meet to discuss working together to advance our countries’ shared interests, including bolstering the rules based international order and maintaining a strong global economy.
During his visit, Minister Bettel will inaugurate Luxembourg’s new diplomatic presence in Canada, highlight 80 years of bilateral relations, and celebrate Luxembourg’s National Day, which is on June 23. The Honourable Rob Oliphant, Parliamentary Secretary to the Minister of Foreign Affairs, will participate in a reception hosted by Luxembourg to mark these important occasions.
SINGAPORE, June 10, 2025 (GLOBE NEWSWIRE) — Primech AI Pte. Ltd. (“Primech AI” or the “Company”), a subsidiary of Primech Holdings Limited (Nasdaq: PMEC), today announced that it has been named Winner in the Robotics category at the prestigious Singapore Business Review (SBR) Technology Excellence Awards 2025. This recognition underscores Primech AI’s commitment to innovation and leadership in the robotics industry and its ongoing efforts to drive technological advancements that enhance productivity and transform industries.
The SBR Technology Excellence Awards celebrate the achievements of Singapore’s top technology companies and innovators, highlighting organizations that have made significant contributions to the nation’s digital transformation journey. As detailed in the official SBR announcement, this year’s ceremony recognized outstanding projects and solutions shaping the future of technology in Singapore and beyond.
Primech AI’s award-winning robotics solutions have set new benchmarks for efficiency, reliability, and intelligent automation. HYTRON model incorporates the NVIDIA Jetson Orin Super, a state-of-the-art System-on-Module (SoM) designed for robust edge AI and robotics applications. Known for its compact size and powerful AI capabilities, the NVIDIA Jetson Orin Super facilitates high-energy efficiency and superior AI processing at the edge, empowering HYTRON to deliver enhanced performance in autonomous toilet cleaning. By leveraging cutting-edge artificial intelligence, Primech AI continues to develop advanced robotic systems that address the evolving needs of businesses across multiple sectors.
“We are honored to be recognized by the Singapore Business Review for our contributions to robotics and technology innovation,” said Charles Ng, Co-Founder and Chief Operating Officer at Primech AI. “This award is a testament to the dedication and ingenuity of our team, and it motivates us to continue pushing the boundaries of what robotics can achieve for our clients and the community.”
For more information about the SBR Technology Excellence Awards 2025 and the full list of winners, please refer to the official announcement by Singapore Business Review.
About Primech AI Primech AI is a leading robotics company dedicated to pushing the boundaries of innovation in technology. With a team of passionate individuals and a commitment to collaboration, Primech AI is poised to revolutionize the robotics industry with groundbreaking solutions that make a meaningful impact on society. For more information, visitwww.primech.ai.
About Primech Holdings Limited Headquartered in Singapore, Primech Holdings Limited is a leading provider of comprehensive technology-driven facilities services, predominantly serving both public and private sectors throughout Singapore. Primech Holdings offers an extensive range of services tailored to meet the complex demands of its diverse clientele. Services include advanced general facility maintenance services, specialized cleaning solutions such as marble polishing and facade cleaning, meticulous stewarding services, and targeted cleaning services for offices and homes. Known for its commitment to sustainability and cutting-edge technology, Primech Holdings integrates eco-friendly practices and smart technology solutions to enhance operational efficiency and client satisfaction. This strategic approach positions Primech Holdings as a leader in the industry and a proactive contributor to advancing industry standards and practices in Singapore and beyond. For more information, visit www.primechholdings.com.
Forward-Looking Statements Certain statements in this announcement are forward-looking statements, including, for example, statements about completing the acquisition, anticipated revenues, growth, and expansion. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. These forward-looking statements are also based on assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.
ORLANDO, Fla., June 10, 2025 (GLOBE NEWSWIRE) — Abacus Global Management, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL), a leader in the alternative asset management space, today provided the following response to last week’s false and misleading short attack.
Our shareholders have been subjected to a false and uninformed short attack. The short seller’s report published on June 4, 2025 makes two key allegations: first, that Abacus relies too heavily on a single life expectancy provider (Lapetus Solutions), and second, that this reliance has significantly inflated our balance sheet valuation. Both are incorrect.
Abacus remains resolute in our process, valuation methodology, and the benefit we provide to both policyholders and investors. Our market coverage analysts share this sentiment as well, and have supported our process with published statements and maintained buy, outperform, or overweight ratings on our stock:
Autonomous/Bernstein: “Abacus Global Management – Morpheus Misleading,” June 4, 2025 (with follow up on June 9, 2025)
Rating: Outperform
Price Target: $12
BRiley: “Abacus Global Management – Take Advantage of Oversold Position,” June 5, 2025
Rating: Buy
Price Target: $15
Piper Sandler: “Shares sink on short report – stock reaction overdone and Abacus responds,” June 4, 2025
Rating: Overweight
Price Target: $12
TD Bank: “ABL’s model, reliant on direct originations and a short holding period, would seem to argue against overvaluation of policies.” June 4, 2025 (with follow up on June 5, 2025)
Rating: Buy
Price Target: $14
Northland: “Abacus Global Management (ABL) Trends in Fair Value, Gains and Other Stuff Tell Positive Story,” June 5, 2025
Rating: Outperform
Price Target: $13.50
In addition to research analyst support, our auditor Grant Thornton has also affirmed our mark-to-market valuation approach for the policies we hold on our balance sheet, and has not seen any reason to revise that opinion since the publication of the short report. It is important to note that the report contained a misleading statement attributed to a Grant Thornton UK CEO. The UK-based company is a separate legal entity from our auditor, Grant Thornton US, and each firm operates independently and manages its own affairs.
Executive Summary
Section 1: Third-Party Analysis Confirms that Lapetus Is Not a Meaningful Input to Our Valuation Model
Section 2: Mark-to-Market Valuation Depends On Much More Than Life Expectancy
Section 3: The Most Recent Market Transactions Confirm the Accuracy of Our Valuation Model
Section 4: Shareholder Commitment to Success of the Business and Anticipated Additions to Russell 2000 and 3000 in August 2025
A core claim of the short report is that “Abacus’ reliance on Lapetus to value its portfolio presents a material risk to the $446 million in claimed life settlements on its books as of Q1 2025.” This is wrong in so many ways, most importantly that Abacus does not “rel[y] on Lapetus to value its portfolio.” And to prove it, Abacus engaged Lewis and Ellis1, a third-party actuarial firm, to review the entire policy balance sheet as stated in our Q1 2025 10-Q filing (over 700 policies), removing all Lapetus life expectancy estimates from the analysis.
For over 55 years, Lewis and Ellis has maintained a sterling reputation and client list with testimonials from organizations including the Ohio Department of Insurance, Arkansas Insurance Department, Maryland Insurance Administration, Americo, Pacific Guardian Life, American Life, American Fidelity, Michigan Department of Insurance, Oklahoma Department of Insurance, and many others.
To produce the valuation, Lewis and Ellis has utilized a discount rate methodology to calculate the net present value of the portfolio. Premium streams, life expectancies (not including Lapetus Solutions), face values of policies and discount rates are all inputs for their analysis. The professionals responsible for producing this valuation are members and meet Qualification Standards of the American Academy of Actuaries.
The new Lewis and Ellis valuation concurred with our prior valuation, resulting in a total policy valuation of $449 million as of March 31, 2025. The valuation provider aligned with a discount rate and range of ±2% as disclosed in the Q1 2025 10-Q filing. The Lewis and Ellis valuation of $449 million falls within a 1% margin of error from our stated valuation of $446 million.
Section 2: The Short Report Confuses Individualized Pricing with Portfolio-Wide Valuations, and Misstates the Relevance of Life Expectancy to Each
Abacus Global Management has developed a sophisticated valuation framework that optimizes for different business objectives at each stage of the asset lifecycle. This dual approach uses life expectancy for consumer-facing transactions while employing market-based valuation for balance sheet management. Life expectancy valuation models assume the value of the asset held to maturity, and thus calculating the maturity date is critically important. On the other hand, the market approach is based on the price of policy sales between informed, intelligent and willing buyers, and willing sellers.
Both approaches have merit. When acquiring policies from consumers, Abacus uses life expectancy estimates to ensure fair pricing, which results in Abacus paying consumers an average of 20.4% of policy face value in 20232, prioritizing fair consumer outcomes. But once policies enter Abacus’s trading portfolio, the company shifts to a market-based valuation system that prioritizes actual market results.
Abacus values its balance sheet using the mark-to-market model. Therefore, the blanket claim in the short report that “The Fair Value Of Life Settlements Depends On Accurately Predicting Life Expectancy” not only collapses the two distinct valuation approaches, it leads the reader to conclude that Abacus values its balance sheet primarily based on life expectancy data. But this ignores the clear description of the Abacus valuation approach in its Consolidated Financial Statements, included in the Company’s most recent 10-K: “The Company determines fair value based on assumptions that market participants would use in pricing an asset or a liability in the principal or most advantageous market.”
In accordance with U.S. GAAP, Abacus’ balance sheet valuation model estimates the price it would receive on the sale of its life settlement policies based on applying data it has from actual policy trading activity, and then applies this and other data to inform its assumptions of what a buyer would pay if it used primarily a discounted cash flow and life expectancy analysis, which results in the reported discount rate. As such our balance sheet valuation model is not driven solely by life expectancy estimates or forecasted discount rates3. Our calculation of fair value for purposes of balance sheet valuation results from data that we observe in the market for life settlement policies, drawing on our experience of prior deals with our trading partners, institutional and representatives of a large, growing market, including the largest private credit asset managers, global alternative asset managers, family offices, insurance companies, and reinsurers.
Consumer Purchase Stage: Life Expectancy Optimization
Why This Hybrid Approach Works
Traditional life settlement models suffer from a fundamental mismatch: they use the same methodology (life expectancy projections and selected discount rates) for both consumer fairness and active trading portfolio accuracy. Abacus recognizes these require different tools:
Consumer Transactions Need Predictive Models: Life expectancy estimates help ensure fair pricing when purchasing from consumers who deserve transparent, actuarially-sound offers.
Trading Portfolios Need Market Reality: Active trading strategies require balance sheet valuations based on actual transaction history, not theoretical projections that can shift with model updates.
This dual methodology perfectly supports Abacus’s core strategy as an active life settlement market-maker:
High Portfolio Turnover: Target balance sheet turn of ~2x annually, making market-based marks more relevant than hold-to-maturity projections
Daily Trading Activity: Real-time valuation accuracy matters more than long-term actuarial estimates for a short-term strategy
Revenue Structure: Unrealized gains require marks that reflect actual selling capability
The Strategic Result
Abacus has solved the life settlement industry’s core valuation dilemma by recognizing that consumer fairness and active balance sheet accuracy require different approaches. This isn’t a compromise—it’s an optimization that delivers better outcomes at both stages.
Section 3: The Most Recent Market Transactions Confirms the Accuracy of the Company’s Fair Value Approach
Abacus operates an active life settlement trading business, continuously acquiring and disposing of life insurance policies to optimize balance sheet returns and maintain target return on equity metrics. This means it is ideally positioned to provide a check on its own fair value accounting. And our actual realized results support our valuation. This quarter, Abacus has sold polices at prices that match its mark-to-market approach. In Q2, through June 2nd, Abacus sold 226 policies for a total $141.4 million. As of March 31, 2025, those sold policies had an estimated balance sheet value of $139.1 million. Not only was Abacus able to crystalize its mark, but it has also realized an incremental gain of 1.65%.
As Abacus is continuously in the market buying and selling policies, at any given time, a portion of its revenue will be unrealized if it is still holding policies it hasn’t sold. Further, if Abacus continues to grow its portfolio by recycling the capital from policy sales, cash flow from operating activities will likely be negative. This may change in the future.
Section 4: Executives and Shareholders Are Aligned on Creating the Brightest Possible Future for Abacus
We appreciate the investor concerns around the coming expiration of the share lock-up, which the short report described as an opportunity for “cashing out.” Jay Jackson, Sean McNealy, Scott Kirby, and Matt Ganovsky collectively own approximately 46% of the outstanding shares. They accepted two-year restricted lock-ups at the time of the deSPAC transaction. This lengthy lock-up period was double the average of any share lock-up compared to any other company, both IPO and deSPAC. The lock-up expires on July 3, 2025. The restriction period ends during a blackout period which will continue until our post-earnings release which is expected in August.
The expiration of the lock-up period does not mean that the founders and senior management are about to cut and run. Just the opposite: these large shareholders are looking forward to the expiration of the lockup not so they can “cash out,” but so they can take the company to its next milestone.
These shareholders and the Board understand that the Russell 2000 and Russell 3000 now require the expiration of the longest lock-up period before a stock can be listed as part of their indices. Abacus believes the positive impact of index inclusion would be beneficial to shareholders. If Abacus maintains the current course with respect to the lock-up expiration, we expect to be added to these indices in August 2025.
Nonetheless, should these large block holders wish to sell shares in the future, we are committed to working closely with our shareholders and institutional investment partners on a purposeful, transparent, and organized sale of shares if one were to occur. We have committed over two decades of service to this company, and our intent is to recognize the highest valuation possible. Our 2025 Board-approved compensation is heavily equity-based and incentivized to increase value to our shareholders through both increased revenue and adjusted net income, as well as company market capitalization.
Conclusion
In summary, Abacus strongly refutes the misleading and incorrect claims made by the short seller. We are supported by outside market research analysts, third-party actuarial firms, our auditor, and our transparent accounting methodology used in fair market reporting driven by mark-to-market valuations.
Abacus is a leading alternative asset manager, market maker, technology company, and growing private wealth manager. We will not allow this distraction to slow our growth and expansion.
Forward-Looking Statements
All statements in this press release (and oral statements made regarding the subjects of this press release) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors that could cause actual results to differ materially from such statements, many of which are outside the control of Abacus. Forward-looking information includes, but is not limited to, statements regarding: Abacus’s financial and operational outlook; Abacus’s operational and financial strategies, including planned growth initiatives and the benefits thereof, Abacus’s ability to successfully effect those strategies, and the expected results therefrom. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “expect,” ”intend,” “anticipate,” “goals,” “prospects,” “will,” “would,” “will continue,” “will likely result,” and similar expressions (including the negative versions of such words or expressions).
While Abacus believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. The factors that could cause results to differ materially from those indicated by such forward-looking statements include, but are not limited to: the fact that Abacus’s loss reserves are bases on estimates and may be inadequate to cover its actual losses; the failure to properly price Abacus’s insurance policies; the geographic concentration of Abacus’s business; the cyclical nature of Abacus’s industry; the impact of regulation on Abacus’s business; the effects of competition on Abacus’s business; the failure of Abacus’s relationships with independent agencies; the failure to meet Abacus’s investment objectives; the inability to raise capital on favorable terms or at all; the effects of acts of terrorism; and the effectiveness of Abacus’s control environment, including the identification of control deficiencies.
These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties set forth in documents filed by Abacus with the U.S. Securities and Exchange Commission from time to time, including the Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and subsequent periodic reports. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Abacus cautions you not to place undue reliance on the forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Abacus assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Abacus does not give any assurance that it will achieve its expectations.
About Abacus
Abacus Global Management (NASDAQ: ABL) is a leading financial services company specializing in alternative asset management, data-driven wealth solutions, technology innovations, and institutional services. With a focus on longevity-based assets and personalized financial planning, Abacus leverages proprietary data analytics and decades of industry expertise to deliver innovative solutions that optimize financial outcomes for individuals and institutions worldwide.
Contacts: Investor Relations Robert F. Phillips – SVP Investor Relations and Corporate Affairs rob@abacusgm.com (321) 290-1198
David Jackson – Director of IR/Capital Markets david@abacusgm.com (321) 299-0716
Abacus Global Management Public Relations press@abacusgm.com
____________________
1 Since going public, Abacus has paid Lewis and Ellis a total of $70,105, inclusive of this valuation engagement. 2 Data as per The Deal. 3 Discount rates are an output imputed from our valuations, rather than input for determining valuations.
RANCHO CUCAMONGA, Calif., June 10, 2025 (GLOBE NEWSWIRE) — iPower Inc. (Nasdaq: IPW) (“iPower” or the “Company”), a tech and data-driven eCommerce service provider and online retailer, today announced a strategic partnership with Borg Rise U.S., a dynamic and fast-growing player in digital content and social media commerce. This partnership marks a key milestone in iPower’s strategy to expand its omnichannel presence through influencer-driven and content-based sales models across platforms like TikTok, Instagram, and YouTube.
Borg Rise U.S., with its strong network of content creators, livestreaming infrastructure, and experience in cross-border digital commerce, will collaborate with iPower to build and scale innovative social commerce campaigns. These campaigns will bridge content and conversion, enabling more direct, engaging, and high-converting consumer experiences.
“We’re excited to team up with Borg Rise U.S. to unlock the potential of social-driven retail,” said Lawrence Tan, CEO of iPower. “This collaboration strengthens our ability to connect brands with audiences where they spend their time and attention—on social media—by turning inspiration into seamless purchasing.”
Under this partnership, iPower and Borg Rise U.S. will work together to:
Co-develop influencer campaigns, live selling initiatives, and digital storefronts
Expand iPower’s SuperSuite service offerings into social commerce enablement
Leverage content performance data to enhance targeting and personalization
Onboard emerging brands and help them scale through creator ecosystems
This strategic alliance is expected to further iPower’s mission to empower sellers and entrepreneurs with the tools, data, and distribution channels needed to thrive in today’s evolving digital retail landscape.
About iPower Inc.
iPower Inc. is a tech and data-driven online retailer, as well as a provider of value-added eCommerce services for third-party products and brands. iPower’s capabilities include a full spectrum of online channels, robust fulfillment capacity, a nationwide network of warehouses, competitive last-mile delivery partners, and a differentiated business intelligence platform. For more information, visit www.meetipower.com.
About Borg Rise U.S.
Borg Rise U.S. is a next-generation digital commerce company focused on livestreaming, influencer marketing, and cross-border social commerce. With strengths in content development, platform operations, and community-driven conversion, Borg Rise U.S. empowers brands to unlock growth through immersive digital experiences.
Forward-Looking Statements
All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that iPower believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. iPower undertakes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as may be required by law. Although iPower believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and iPower cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results and performance in iPower’s most recent Report on Form 10-K and in its other SEC filings.
NEW YORK, June 10, 2025 (GLOBE NEWSWIRE) — Sharps Technology, Inc. (Nasdaq: “STSS” and “STSSW”) (“Sharps”), an innovative medical device and pharmaceutical packaging company offering patented, best-in-class smart safety syringe products to the healthcare industry, today announced that Robert Hayes, CEO, will present live at the Life Sciences Virtual Investor Forum hosted by VirtualInvestorConferences.com, on June 12th, 2025 at 9:30 AM ET.
Sharps recently announced that the Company has commenced shipments under three customer orders tied to previously announced purchase agreements. These shipments represent the Company’s first commercial deliveries and its transition to revenue-generating operations. All products are being manufactured and shipped from Sharps’ facility in Hungary, which has undergone significant upgrades to support high-volume production. Read the update releaseHERE.
This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.
It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.
About Sharps Technology: Sharps Technology is an innovative medical device and pharmaceutical packaging company offering patented, best-in-class smart-safety syringe products to the healthcare industry. The Company’s product lines focus on providing ultra-low waste capabilities, that incorporate syringe technologies that use both passive and active safety features. Sharps also offers products that are designed with specialized copolymer technology to support the prefillable syringe market segment. The Company has a manufacturing facility in Hungary. For additional information, please visit www.sharpstechnology.com.
Investor Contact: Holdsworth Partners Adam Holdsworth Phone: 917-497-9287 Email:IR@sharpstechnology.com
FORWARD-LOOKING STATEMENTS: This press release contains “forward-looking statements”. Forward-looking statements reflect our current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” “poised” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements, include, but are not limited to, statements contained in this press release relating to our business strategy, our future operating results and liquidity, and capital resources outlook. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, our ability to raise capital to fund continuing operations; our ability to protect our intellectual property rights; the impact of any infringement actions or other litigation brought against us; competition from other providers and products; our ability to develop and commercialize products and services; changes in government regulation; our ability to complete capital raising transactions; and other factors relating to our industry, our operations and results of operations. Actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We cannot guarantee future results, levels of activity, performance, or achievements. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
About Virtual Investor Conferences® Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.
Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
Virtual Investor Conferences: John M. Viglotti SVP Corporate Services, Investor Access OTC Markets Group (212) 220-2221 johnv@otcmarkets.com
Source: Africa Press Organisation – English (2) – Report:
PRETORIA, South Africa, June 10, 2025/APO Group/ —
Energade, Hyundai and Uber Join BAL’s Existing Partner Roster that Features Rwanda Development Board, NIKE, Jordan Brand, Wilson, Afreximbank, Castle Lite, Hennessy, RwandAir and ServiceNow.
Semifinals Tomorrow Will Feature Al Ahli Tripoli (Libya) vs. APR (Rwanda) at 4:00 p.m. CAT and Al Ittihad (Egypt) vs. Petro de Luanda (Angola) at 7:00 p.m. CAT.
The Basketball Africa League (BAL) (BAL.NBA.com) today announced the league’s roster of marketing and merchandising partners for the 2025 BAL Playoffs that are underway now at the SunBet Arena in Pretoria, South Africa, and will culminate with the 2025 BAL Finals on Saturday, June 14 at 4:00 p.m. CAT.
The new partners – Energade, Hyundai and Uber – are engaging fans in South Africa throughout the Playoffs and Finals and join the BAL’s existing partner roster that features Foundational Partners Rwanda Development Board, NIKE, Jordan Brand and Wilson, as well as marketing partners Afreximbank, Castle Lite, Hennessy, RwandAir and ServiceNow.
The 2025 BAL Playoffs, which are being held in South Africa for the first time, have featured the top eight teams (https://apo-opa.co/4e0OKOy) from the three conference group phases that were held inRabat, Morocco; Dakar, Senegal; and Kigali, Rwanda in April and May. The semifinals (https://apo-opa.co/3FwN7ePschedule) will take place tomorrow, Wednesday, June 11 when Al Ahli Tripoli (Libya) takes on APR (Rwanda) at 4:00 p.m. CAT and Al Ittihad (Egypt) plays Petro de Luanda (Angola) at 7:00 p.m. CAT. Tickets are on sale now atBAL.NBA.comandTicketmaster.co.za.
Below are highlights of the partner activations throughout the BAL Playoffs and Finals:
Energade
Hyundai
As an Associate Partner of the BAL Playoffs and Finals, Hyundai is featured prominently with vehicle displays in the BAL Fan Zone and at the arena entrance. Fans engaging with the brand have the opportunity to win Hyundai and BAL merchandise and prizes.
Uber
Through theBAL’scollaborationwith Uber Eats, fans can conveniently order food from in-arena vendors right from their seats, with pickup availableata dedicated area onthe concourse.
Afreximbank
As an Official Partner of the BAL, Afreximbank is supporting the off-court development of BAL players through BAL Advance, providing targeted training in areas such as nutrition, mental health, and financial literacy.
Castle Lite
Castle Lite, the Official Beer Partner of the BAL,is engagingfans through a range of on-court and in-arena experiences.
Hennessy
Hennessy, the Official Spirit of the BAL,isengagingfans with a premium courtside experience at The Hennessy Lounge.The Hennessy Loungeisalsohostingthe brand’s guests, including celebrities and influencers.
NIKE
Three-time WNBA MVPA’jaWilsonis giftinggift pairs of her newly launchedNIKEA’Onesneakers to the girlsparticipatingin the BAL4Her U–23campthat is being held in conjunction with the Playoffs and Finals, markingthe first time her shoes arebeingdistributedin Africa.The campis takingplace from June 9–14,with former WNBAplayerEdnieshaCurryreturning as camp directorfor the second consecutive year.
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
BEIJING, June 10 (Xinhua) — Chinese Foreign Minister Wang Yi on Monday congratulated Javier Efrain Bu Soto on his assumption of office as Honduran Foreign Minister.
In his message, he noted that in March 2023, the heads of the two states made a far-sighted strategic decision, opening a new chapter in the history of relations between China and Honduras.
In the more than two years since the establishment of diplomatic relations, the two countries have witnessed rapid development of bilateral relations and achieved fruitful results in bilateral cooperation, which has brought tangible benefits to both peoples, the minister said.
Facts have proven that the establishment of diplomatic relations between China and Honduras is a significant modern achievement with long-term benefits, Wang added.
He said Beijing highly values Tegucigalpa’s commitment to the one-China principle and will continue to support Honduras as much as possible in developing its economy and improving the well-being of its people.
Wang Yi expressed his willingness to establish a strong working relationship with J.E. Bu Soto, jointly implement the important agreements reached by the two heads of state, and continuously improve the level of relations between China and Honduras. –0–
TORONTO, June 10, 2025 (GLOBE NEWSWIRE) — Questrade (www.questrade.com) — Canada’s #1 rated* online brokerage — is honoured to share that it has retained the title of MoneySense’s Best Online Broker in Canada for 2025, landing atop the ranking for a third consecutive year. The annual MoneySense review, conducted in partnership with research firm Surviscor, assesses and compares Canadian online brokerages across four pillars of investor experience including desktop and mobile platforms, service efficacy, and commissions and fees.
“Reclaiming the title of Best Online Broker in Canada adds to an already eventful year for Questrade with our move to offer $0 commission trading alongside our introduction of real-time fractional trading and Questrade Plus,” said Rob Galaski, Chief Journey Officer, Questrade. “This recognition stands as another powerful acknowledgement of our team’s work to deliver Canada’s most complete and compelling investment offering, furthering our mission to help all Canadians become much more financially successful and secure.”
In another standout year where Questrade outperformed its peers across many of the investor experience categories, it was applauded for its surprise move to introduce $0 commission trading, as well as its reliable customer service experience, industry-leading digital investment platforms, and ongoing commitment to investor education.
“We’re proud to once again name Questrade as MoneySense’s Best Online Broker in Canada for 2025,” said Natasha Macmillan, Senior Business Director, MoneySense. “Questrade leads the way with a robust, user-focused platform that prioritizes accessibility, innovation, and exceptional service, delivering genuine value to investors at every experience level. Its unwavering commitment to enhancing the investor experience, education, and ongoing support truly sets Questrade apart from the competition.”
Adding to the repeat recognition, MoneySense’s 2025 review also named Questrade as best broker for new and seasoned investors, $0 commission trading, user experience, and account experience, highlighting the online brokerage’s attention to the evolving needs and preferences of active and passive investors alike.
Questrade, Inc. (“Questrade”) is changing the Canadian financial services industry by leveraging technology to lower fees while providing a viable alternative to traditional financial investment options, thereby allowing Canadians to Keep More of their Money. As a leader and innovator in financial services, Questrade is a trusted ally that advocates for consumers, focused on improving value. With 25 years of challenging the status quo as one of Canada’s leading, non-bank online brokerages and over $50 billion in assets under administration, Questrade and its affiliates provide financial products and services, including securities and foreign currency investments. For more information, visit www.questrade.com or on Facebook and X (formerly Twitter) @Questrade. Questrade, Inc. is a registered investment dealer, a member of the Canadian Investment Regulatory Organization (CIRO), and a member of the Canadian Investor Protection Fund (CIPF). Questrade is a wholly owned subsidiary of Questrade Financial Group Inc.
Source: United States House of Representatives – Congresswoman Joyce Beatty (3rd District of Ohio)
WASHINGTON, D.C.– Today, Congresswoman Beatty reintroduced H.R. 3709 the ‘Advancing the Mentor Protégé Program for Small Financial Institutions Act’ to codify the Financial Agent Mentor-Protégé Program at the U.S. Department of the Treasury. The program pairs up small and rural financial institutions with large banks and credit unions, providing resources, training, and technical assistance to help them better serve their communities and become Financial Agents to Treasury.
Small financial institutions, including Minority Depository Institutions (MDIs), play a critical role in their communities, yet there are only 151 MDI banks left in the United States, and the number of minority-owned banks has dropped more than 30% since its peak in 2008. Although their numbers have largely stabilized in recent years, MDIs generally have much higher expenses and are often forced to merge with other minority-owned banks to survive.
“Small financial institutions are anchors of local economies across the U.S., providing mortgage credit, small business lending, and other critical banking services to their communities ,” said Congresswoman Beatty. “These institutions know the financial needs of their communities best, and codifying the mentor-protégé program at Treasury will go a long way toward preserving and strengthening their impact across America —and advancing our mission of an inclusive financial system.”
“The Independent Community Bankers of America (ICBA) is pleased to support Congresswoman Joyce Beatty’s Advancing the Mentor-Protégé Program for Small Financial Institutions Act, which would establish a Treasury Financial Agent program enabling partnerships between MDIs, rural community banks, and other financial institutions,” said Rebeca Romero Rainey, ICBA President and CEO. “This legislation reinforces and supports the critical role MDIs and rural community banks serve as a lifeline in their communities, providing tailored financial products, and fostering greater economic growth.”
“The American Bankers Association is pleased to support Rep. Beatty’s Advancing the Mentor Protégé Program for Small Financial Institutions Act, which would increase the ability of community banks, rural financial institutions and MDIs to meet the financial service needs of their customers, clients and communities,” said Rob Nichols, ABA President and CEO. “By strengthening partnerships between large banks and these community financial institutions with the help of the Treasury Department, this bill will provide significant benefit to consumers across the country and the broader economy.”
“The National Bankers Association (NBA) proudly supports Congresswoman Joyce Beatty’s Advancing the Mentor Protégé Program for Small Financial Institutions Act, which takes a critical step toward strengthening small, mission-driven banks,” said Nicole Elam, President and CEO of the NBA. “This legislation builds on existing Treasury efforts by expanding the scope of support for Minority and Rural Depository Institutions—ensuring they have greater access to federal resources and opportunities. Through the establishment of a Financial Agent Mentor-Protégé Program, larger financial institutions will be able to mentor and support small, mission-driven banks in enhancing their operational capacity, deepening community impact, and qualifying to serve as financial agents of the U.S. government.”
“America’s Credit Unions applauds Rep. Joyce Beatty’s efforts to promote programs that support minority depository institution (MDI) credit unions and other credit unions. We are pleased to see the reintroduction of the Advancing the Mentor Protégé Program for Small Financial Institutions Act. This bill would empower MDI and other smaller credit unions to collaborate with larger credit unions in these mentorship efforts. This builds on the credit union culture of ‘people helping people’ and working cooperatively to ensure the success of communities they serve,” said Jim Nussle, America’s Credit Unions President/CEO.
SINGAPORE, June 10, 2025 (GLOBE NEWSWIRE) — HTX, a leading global cryptocurrency exchange, has announced the launch of the sixth phase of its Crypto Gem Hunt program. Amidst a crypto market characterized by persistent volatility, with Bitcoin fluctuating between $100,000 and $110,000, market sentiment remains largely influenced by macroeconomic policies, regulatory developments, and speculative behavior. Against this backdrop, HTX’s Crypto Gem Hunt leverages rigorous data analysis and a meticulous selection process to spotlight seven standout projects. These projects are strategically positioned for growth and demonstrate strong community engagement. The selected assets span some of today’s most dynamic sectors—including RWA/DeFi, AI, Meme, LSD, and SocialFi—and feature both promising new entrants and well-established projects that have recently outperformed broader market trends.
New Listings Shine Across a Well-Balanced Sector Mix
In May, HTX listed 23 new assets, including six stablecoins, an approach that underscores its commitment to staying at the forefront of the stablecoin trend and expanding its asset offerings. Notably, USD1 made its global debut on HTX. The token, issued by World Liberty Financial (a company backed by the Trump family), focuses on building a DeFi lending ecosystem in the United States. USD1 quickly gained traction as one of May’s most discussed projects on social media and received an S rating.
Besides USD1, two other new assets in Crypto Gem Hunt #6 have stood out:
SYRUP (Maple Finance), a key player in the RWA/DeFi sector, experienced an impressive 117.7% surge following its listing on May 8, earning an A rating. SYRUP is the native token of Maple, a decentralized lending protocol that allows users to deposit USDC, receive syrupUSDC, and earn yield. All loans are collateralized by digital assets, ensuring both strong security and sustainable returns.
KAITO, an innovator in the InfoFi/AI sector, recorded a remarkable 263.6% increase since its listing on HTX on February 23, securing an A rating. KAITO is building an AI-driven crypto information network that streamlines content distribution among creators, users, and capital. By empowering the content ecosystem, KAITO is positioning itself at the forefront of the convergence between crypto and AI.
Despite continuous shifts in market dynamics, a select group of earlier-launched projects are demonstrating remarkable resilience. Backed by strong product fundamentals and vibrant community support, they’ve recently returned to the spotlight with evolving narratives and renewed momentum, capturing the attention of both investors and users.
Two Meme projects from last September, MOODENG and NEIROCTO, serve as notable examples:
MOODENG, built on the Solana (SOL) chain, surged an incredible 961.5% and received an A rating. Inspired by the famous pygmy hippopotamus from Thailand, MOODENG’s unique design, strong community, and viral momentum propelled it to a nearly tenfold increase post-launch.
NEIROCTO (First Neiro On Ethereum) is community-driven and carries on the spirit of Doge. Since its launch on September 7, 2024, it has seen a peak increase of 235%. Through consistent operational efforts and content-driven initiatives, NEIROCTO has cultivated a highly engaged Meme community.
ETHFI (ether.fi), launched in March 2024, emerged during the boom of the LSD sector and has since recorded a 258.7% increase. With rising interest in LSD solutions within the Ethereum ecosystem, ETHFI shows strong growth potential and a solid track record.
MASK (Mask Network), launched in 2021, is a SocialFi project that recently gained 187.3%. Acting as a bridge between Web2 (traditional internet) and Web3 (decentralized internet), MASK integrates decentralized applications into mainstream social media via a browser plugin. Recent feature updates and community efforts have significantly contributed to its price recovery.
HTX Crypto Gem Hunt Empowers Users Across Market Cycles
To date, HTX has launched six rounds of its Crypto Gem Hunt program. The latest selection features not only high-growth new assets from emerging sectors but also established projects that have recently delivered strong performance. Together, these assets offer users a well-balanced portfolio—combining defensive stability with high-upside potential.
Looking ahead, HTX Crypto Gem Hunt will continue to empower users through professional, intuitive asset discovery supported by robust data and forward-looking analysis.
About HTX
Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.
As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance,” HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.
Disclaimer: This is a paid post and is provided by HTX. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.
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NORWALK, Conn., June 10, 2025 (GLOBE NEWSWIRE) — CUSIP Global Services (CGS) today announced a collaboration with Aumni, Inc. (“Aumni”), a J.P. Morgan company specializing in venture capital data solutions, to expand CUSIP coverage for venture-backed and private equity-owned private companies. This expanded coverage provides standardized identifiers for company issuers and their financial instruments, thereby increasing efficiency, accuracy, and security in reporting, settlement, and analytics for venture capital firms, private equity firms, and their investors.
The CUSIP is a nine-character alphanumeric security identifier that captures the unique attributes of issuers and their financial instruments throughout the U.S. and Canada. Widely recognized as a trusted standard in the financial markets, the CUSIP is a foundational building block that allows for efficient trading, clearing, and settlement across dozens of asset classes. Private equity markets have historically not had a standard identifier, resulting in the use of manual, error-prone solutions for security tracking and identity resolution.
“This collaboration marks a significant step forward in enabling the same level of efficiency in private markets that public markets have enjoyed for decades. By standardizing private company identifiers, we are paving the way for more streamlined operations and better decision-making for all market participants, which we feel is becoming ever more important as these alternative asset classes continue to grow,” said Scott Preiss, Senior Vice President and Global Head, CGS. “This exciting collaboration with Aumni helps CGS fulfill its mission, as directed by our industry-appointed Board of Trustees, to keep innovating and expanding the depth and breadth of CUSIP coverage as new market needs develop.”
Aumni is a leading software platform for private market investors to manage investment portfolio data, analytics, and insights. By combining Aumni’s expertise in private market data structuring with CGS’s Private CUSIP assignment capabilities and reputation as a trusted provider of capital markets reference data, customers will benefit from rich company- and security-level metadata to support portfolio management.
“We are excited to work with CGS on providing standardized security identifiers to the venture capital and private equity space,” said Alex Woodgate, Head of Corporate Development and Data Solutions at Aumni. “Consistent reference data for private securities will simplify reporting and enable efficiencies for GPs and LPs, and unlock further innovation opportunities for the private markets ecosystem.”
Beginning today, existing CGS customers will gain access to a free version of the Private CUSIP feed alongside their existing products and services. Customers can choose to upgrade to a premium service, adding a larger pool of company and security identifiers, additional metadata for each identifier, and the ability to request new identifiers.
About CUSIP Global Services CUSIP Global Services (CGS) is the global leader in securities identification. The financial services industry relies on CGS’ unrivaled experience in uniquely identifying instruments and entities to support efficient global capital markets. Its extensive focus on standardization over the past 50 plus years has helped CGS earn its reputation as the industry standard provider of reliable, timely reference data. CGS is also a founding member of the Association of National Numbering Agencies (ANNA) and co-operates ANNA’s hub of ISIN data, the ANNA Service Bureau. CGS is managed on behalf of the American Bankers Association (ABA) by FactSet Research Systems Inc., with a Board of Trustees that represents the voices of leading financial institutions. For more information, visit www.cusip.com.
For More Information:
John Roderick J. Roderick Public Relations for CUSIP Global Services john@jroderick.com +1 (631) 584.2200
CAMBRIDGE, United Kingdom, June 10, 2025 (GLOBE NEWSWIRE) — Subscription brands are pulling away from digital advertising. According to a new industry-wide study from Bango (AIM: BGO), 48% of subscription leaders report diminishing returns from traditional direct acquisition methods like paid search and paid social media. A further 53% warn that direct marketing is becoming “unsustainable” as customer acquisition costs spiral.
The report — Gravity Shift: Subscribers, bundles, and the acquisition black hole — captures responses from more than 200 senior executives at subscription-based businesses, spanning sectors from AI productivity apps to streaming services, retail, and finance. It reveals a stark reality: the performance marketing model that powered subscription growth over the last decade is under serious strain.
“Direct marketing used to be a reliable engine for growth. Now it’s a black hole,” said Anil Malhotra, CMO at Bango. “When nearly half your industry says ROI is vanishing, alarm bells should be ringing. It’s time to rethink how subscriptions go to market.”
Key findings:
88% of subscription brands expect direct acquisition costs to rise in 2025, with nearly one in three forecasting increases of over 25%.
80% are cutting back on at least one paid channel, including:
Paid search ads (33%)
Display advertising (30%)
Paid social ads (29%)
46% of leaders describe direct marketing spend as a “black hole” for their budgets.
53% believe direct channels are no longer a sustainable path to growth.
What’s driving the pullback?
Executives cited rising ad costs, algorithm changes, data privacy limits, and subscriber fatigue as the most pressing challenges. Compounding this, many brands report hitting the ceiling on their ability to profitably scale one-to-one acquisition.
“Netflix spends nearly $3 billion a year on marketing. That’s simply not feasible for the rest of the market,” said Giles Tongue, subscription expert at Bango. “Most brands don’t have the scale to absorb that kind of spend, especially when the returns are eroding. Direct-to-consumer marketing is hitting diminishing returns, and leaders are now looking for smarter, more sustainable ways to grow.”
Where the money is going
Rather than doubling down, brands are reallocating budget toward indirect acquisition strategies, such as bundling, partnerships, and aggregator platforms. According to the report:
82% of brands plan to increase investment in indirect channels this year.
90% are already bundling — or plan to — in 2025.
72% say indirect routes bring in higher quality subscribers than direct channels.
Among the fastest-growing channels: partnerships with telcos, banks, device platforms, and social media platforms. Over a quarter of brands (27%) are joining “Super Bundling” platforms like Verizon myPlan and myHome to reach new audiences without high upfront acquisition costs.
Bango’s recent consumer data also supports the shift: 62% of U.S. subscribers would prefer to manage multiple subscriptions through a single bundle, and 44% already get at least one subscription free as part of a packaged deal. Among younger users, these numbers are even higher — 55% of 18–24-year-olds now receive a bundled subscription they previously paid for directly.
Tongue added: “We’re seeing a clear shift from the subscription economy to the bundle economy. Consumers don’t want to manage ten separate subscriptions — they want value, convenience, and flexibility. The brands that win in this next phase will be the ones that package their offerings in ways that reflect how people actually want to buy.”
Implications beyond the subscription market
The findings come at a critical time for digital advertising giants like Google, Meta, and TikTok — whose earnings rely heavily on performance ad spend. If subscription leaders are a bellwether, Bango’s findings suggest we could be entering a post-performance marketing era, where distribution partnerships replace ad impressions as the metric that matters.
Bango expects the pivot to indirect acquisition and bundling to drive a wave of commercial opportunity for its Digital Vending Machine® (DVM™) platform. Bango’s DVM currently powers many of the world’s leading Super Bundling platforms, including Verizon myPlan and myHome, and supports acquisition for major services such as Netflix, Amazon Prime, Disney+, Uber, YouTube, and Xbox. With 90% of subscription leaders now investing in bundling, the DVM is well placed to capitalize on the wider industry adoption and accelerated growth of indirect marketing through 2025 and beyond.
Bango enables content providers to reach more paying customers through global partnerships. Bango revolutionized the monetization of digital content and services, by opening-up online payments to mobile phone users worldwide. Today, the Digital Vending Machine® is driving the rapid growth of the subscription economy, powering choice and control for subscribers.
The world’s largest content providers, including Amazon, Google and Microsoft, trust Bango technology to reach subscribers everywhere.
Bango, where people subscribe. For more information, visit www.bango.com
MILPITAS, Calif., June 10, 2025 (GLOBE NEWSWIRE) — TurnOnGreen, Inc. (OTC: TOGI) (“TurnOnGreen” or the “Company”), together with its division Digital Power Corporation (“DPC”), a recognized leader in custom-engineered power solutions, announced that its contract backlog has grown to $7.5 million.
This expanded backlog reflects strong demand for DPC’s innovative, mission-critical power systems across multiple industries, including military and defense, industrial, medical, e-mobility, and telecommunications. The awarded contracts involve the design and production of advanced, ruggedized power systems engineered to perform reliably in extreme environments while meeting stringent operational requirements.
TurnOnGreen and DPC specialize in custom, scalable solutions tailored to the unique needs of its global customer base. Their high-grade uninterruptible power supplies and integrated power platforms are deployed across diverse sectors, including land, sea, and airborne applications. These systems especially support essential military operations by meeting strict environmental and operational standards required by global defense OEMs.
“Digital Power’s proven track record in delivering complex and bespoke power solutions is a testament to our commitment to technical innovation and customer satisfaction,” said Amos Kohn, Chairman and CEO of TurnOnGreen. “This growing backlog not only reflects the trust our customers place in us, but also reinforces our dedication to consistently meet demanding specifications, tight timelines, and budget requirements across diverse industries and market sectors.”
About TurnOnGreen
TurnOnGreen Inc. (OTC:TOGI) designs and manufactures innovative, high-performance power solutions for mission-critical applications in some of the world’s most demanding environments. Serving diverse industries, including defense and aerospace, medical and healthcare, industrial, telecommunications, and e-Mobility, TurnOnGreen seeks to deliver cutting-edge, reliable power technologies tailored to meet complex operational needs. With over 50 years of expertise, TurnOnGreen leverages decades of experience to develop customer-driven solutions that drive innovation and efficiency. The company collaborates closely with clients to engineer advanced products that enhance performance, sustainability, and reliability across multiple sectors.
This press release contains “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. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors including a change in future projected revenue due to modification or cancellation of orders. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.TurnOnGreen.com.
– Bitcoin treasury as of May 31, 2025 valued at $16.2 million or $3.16 per share1
TAMPA, Fla., June 10, 2025 (GLOBE NEWSWIRE) — LM Funding America, Inc. (NASDAQ: LMFA) (“LM Funding” or the “Company”), a Bitcoin mining and technology-based specialty finance company, today announced its preliminary, unaudited Bitcoin mining and operational update for the month ended May 31, 2025.
Metric
Apr 2025
May 2025
– Bitcoin2
– Mined, net
6.6
6.3
– Sold
(18.0)
–
– Purchased
–
–
– Service Fee
(0.1)
–
– Bitcoin HODL
148.7
155.0
– Machines2
– Operational
5,121
4,320
– Storage
496
1,297
– Total Machines
5,617
5,617
– Hashrate (EH/s2)
– Oklahoma
0.43
0.48
– Hosted
0.13
–
– Energized
0.56
0.48
– Storage
0.05
0.13
– Total
0.61
0.61
“In May, we remained focused on increasing the output of our mining operations in support of our Bitcoin treasury strategy,”said Bruce Rodgers, Chairman and CEO of LM Funding.“Although the number of Bitcoin mined was modestly lower due to the relocation of machines from our hosted Kentucky site to our wholly owned Oklahoma facility, our Bitcoin holdings grew both in volume and value, ending the month at 155 Bitcoin worth over $16 million, or $3.16 per share. We believe the revenue generated from power curtailment activities meaningfully reduces our exposure to both energy and Bitcoin price volatility. This risk-managed approach provides our shareholders with a capital-efficient, Bitcoin-aligned platform that supports our long-term treasury accumulation strategy.”
The reduction in BTC mined is due in part to approximately 800 machines being repositioned from the Core Kentucky site to the Company’s Oklahoma site. Estimated curtailment and energy sales for May 2025 were approximately $70,000.
The Company estimates that the value of its 155 Bitcoin holdings on May 31, 2025, was approximately $16.2 million or $3.161 per share, based on a Bitcoin price of approximately $104,600 as of May 31, 2025, compared to a stock share price of $1.93 as of May 30, 2025.
“Our focus remains on capital efficiency and asset optimization,”added Richard Russell, CFO of LM Funding. “The ability to monetize power curtailment while growing our Bitcoin holdings strengthens our balance sheet and supports long-term shareholder value.”
About LM Funding America LM Funding America, Inc. (Nasdaq: LMFA), operates as a Bitcoin mining and specialty finance company. The company was founded in 2008 and is based in Tampa, Florida. For more information, please visit https://www.lmfunding.com.
Forward-Looking Statements This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” and “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the Company’s most recent Annual Report on Form 10-K and its other filings with the SEC, which are available atwww.sec.gov. These risks and uncertainties include, without limitation, the risks of operating in the cryptocurrency mining business, our limited operating history in the cryptocurrency mining business and our ability to grow that business, the capacity of our Bitcoin mining machines and our related ability to purchase power at reasonable prices, our ability to identify and acquire additional mining sites, the ability to finance our site acquisitions and cryptocurrency mining operations, our ability to acquire new accounts in our specialty finance business at appropriate prices, changes in governmental regulations that affect our ability to collected sufficient amounts on defaulted consumer receivables, changes in the credit or capital markets, changes in interest rates, and negative press regarding the debt collection industry. The occurrence of any of these risks and uncertainties could have a material adverse effect on our business, financial condition, and results of operations.
1Bitcoin treasury calculated using 155 Bitcoin held as of 5/31/25 and Bitcoin price of approximately $104,600 as of 5/31/25. Bitcoin per share calculated using 5,133,412 shares outstanding as of 3/31/25 from SEC Form 10-Q filed May 15, 2025 2Unaudited
WINTER PARK, Fla., June 10, 2025 (GLOBE NEWSWIRE) — Adia Nutrition Inc. (OTCQB: ADIA), based in Winter Park, Florida, focused on advancing regenerative medicine through stem cell therapies and nutritional solutions, today announced that Larry Powalisz, Chief Executive Officer, will present live at the Life Sciences Virtual Investor Forum, hosted by VirtualInvestorConferences.com, on June 11th, 2025.
DATE: June 11th, 2025 TIME: 2:00 PM ET LINK: REGISTER HERE Available for 1×1 meetings: June 12-13
This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.
It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.
Opened Adia Med clinic in Winter Park, FL, in January 2025, offering Autologous Hematopoietic Stem Cell Transplantation (aHSCT) for multiple sclerosis and autoimmune conditions.
Expanded regenerative therapies with two premier stem cell and exosome products, Adia Vita, an FDA-registered 361 HCT/P umbilical cord stem cell product containing 100 million viable cells and 3 trillion exosomes per unit and AdiaLink, an FDA-registered 361 HCT/P exosome product containing 3.5 trillion exosomes per unit.
Secured licensing agreements to meet global demand for Adia Med’s regenerative therapies, announced June 9, 2025.
Established subsidiaries Adia Labs LLC and Adia Med of Tinton Falls LLC to distribute and provide innovative treatments nationwide.
For questions, inquiries or further information, please contact Larry Powalisz at ceo@adiamed.com or 321-788-0850.
About ADIA Nutrition Inc.: Adia Nutrition Inc. is a publicly traded company (OTCQB: ADIA) dedicated to revolutionizing healthcare and supplementation. With a focus on innovation and quality, the company has established two key divisions: a supplement division providing premium, organic supplements, and a medical division establishing Clinics that specialize in leading-edge stem cell therapies, most significantly Umbilical Cord Stem Cells (UCB-SC) and Autologous Hematopoietic Stem Cell Transplantation (aHSCT) treatments. Through these divisions, Adia Nutrition Inc. is committed to empowering individuals to live their best lives by addressing both nutritional needs and groundbreaking medical treatments.
Safe Harbor: This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a few uncertainties and risks that could significantly affect the company’s current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company’s business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission and OTC Markets, Inc. OTC Disclosure and News Service. The company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events or otherwise.
About Virtual Investor Conferences® Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.
Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings, and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
Virtual Investor Conferences John M. Viglotti SVP Corporate Services, Investor Access OTC Markets Group (212) 220-2221 johnv@otcmarkets.com
NEW YORK, June 10, 2025 (GLOBE NEWSWIRE) — Brandon Werley, Managing Director at Dave Cantin Group (DCG), a leading mergers and acquisitions advisory company to retail automotive groups and their owners, has been named a recipient of the 2025 Emerging Leaders Award from M&A Advisor magazine.
The 16th Annual Emerging Leaders Awards celebrate the accomplishments of M&A, finance and turnaround professionals whose significant level of success while still under the age of 40 establishes them as the industry’s emerging leaders. Brandon is the second DCG team member to receive this honor: in 2023, Brian Traugott, Chief of Staff, was also named an Emerging Leader.
“Brandon’s recognition as an Emerging Leader by M&A Advisor is a proud moment for all of us at DCG,” said CEO Dave Cantin. “His rapid rise and the trust he’s earned from major clients reflect not only his deep industry knowledge, but also his relentless work ethic and integrity. Brandon embodies the next generation of leadership in automotive M&A, and we’re honored to have him helping shape the future of our company and our industry.”
Since starting his professional career in 2018, Brandon’s path has taken him from Big Four accounting firm KPMG to Haig Partners, Withum and now Dave Cantin Group, where he helps companies strategically grow through acquisitions and optimize their portfolios through divestitures.
Brandon has advised on more than 70 completed transactions, overseeing everything from valuations and financial due diligence to negotiations and closings. He played pivotal roles in landmark deals such as Apollo Global Management’s $585 million acquisition of 34 dealership properties from Capital Automotive Real Estate Services Inc. (2019) and the sale of 17 Prime Automotive Group stores across six states (2020-2021). His expertise has contributed to strategic transactions with major dealership groups such as Lithia Motors, Asbury Automotive Group, Atlantic Coast Automotive and Open Road Capital, among several other Top 150 Dealership Groups.
Based in Pennsylvania, Brandon continues to play a key role at Dave Cantin Group, which is on track to have one of its most active advisory years in the company’s history.
About Dave Cantin Group
The Dave Cantin Group is a leading automotive M&A advisory company specializing in acquisitions, divestitures, intelligence, and other advisory services. The company is the M&A services provider of choice for North America’s top automotive dealership groups, advising on approximately 40 transactions annually. DCG is differentiated by its advisory approach, long-term lens on client relationships, and commitment to market intelligence tools that inform DCG and client strategies. In 2023, DCG became the only retail automotive M&A company with a significant strategic investor, welcoming Kaltroco to the DCG family.
Through its M&A intelligence division, DCG produces automotive content and delivers relevant, timely marketing intelligence, including the automotive industry Market Outlook Report (MOR). Together with CBT News, DCG produces the Inside M&A studio show and podcast to share stories, news and trends impacting the retail automotive industry. DCG’s proprietary AI-enabled software, Jump IQ, anchors its advisory services that support retail automotive dealers in developing informed M&A strategies and making smarter M&A decisions.
The company’s nonprofit initiative, DCG Giving, funds child and adolescent cancer research and treatment in communities nationwide and other worthy charitable initiatives. DCG team members regularly feature on the industry speaking circuit and are regularly cited by top national and global news outlets. For more information, please visit davecantingroup.com.
GREENWICH, Conn., June 10, 2025 (GLOBE NEWSWIRE) — Oxford Lane Capital Corp. (NasdaqGS: OXLC) (NasdaqGS: OXLCP) (NasdaqGS: OXLCL) (NasdaqGS: OXLCO) (NasdaqGS: OXLCZ) (NasdaqGS: OXLCN) (NasdaqGS: OXLCI) (NasdaqGS: OXLCG) (the “Company”) today announced the following net asset value (“NAV”) estimate as of May 31, 2025.
Management’s unaudited estimate of the range of the NAV per share of our common stock as of May 31, 2025, is between $4.17 and $4.27. This estimate is not a comprehensive statement of our financial condition or results for the month ended May 31, 2025. This estimate did not undergo the Company’s typical quarter-end financial closing procedures and was not approved by the Company’s board of directors. We advise you that our NAV per share for the quarter ending June 30, 2025 may differ materially from this estimate, which is given only as of May 31, 2025.
As of May 31, 2025, the Company had approximately 481.6 million shares of common stock issued and outstanding.
The fair value of the Company’s portfolio investments may be materially impacted after May 31, 2025 by circumstances and events that are not yet known. To the extent the Company’s portfolio investments are impacted by market volatility in the U.S. or worldwide, the Company may experience a material impact on its future net investment income, the fair value of its portfolio investments, its financial condition and the financial condition of its portfolio investments. Investing in our securities involves a number of significant risks. For a discussion of the additional risks applicable to an investment in our securities, please refer to the section titled “Risk Factors” in our prospectus and the section titled “Principal Risks” in our most recent annual report or semi-annual report, as applicable.
The preliminary financial data included in this press release has been prepared by, and is the responsibility of, Oxford Lane Capital Corp.’s management. PricewaterhouseCoopers LLP has not audited, reviewed, compiled, or applied agreed-upon procedures with respect to the preliminary financial data. Accordingly, PricewaterhouseCoopers LLP does not express an opinion or any other form of assurance with respect thereto.
About Oxford Lane Capital Corp.
Oxford Lane Capital Corp. is a publicly-traded registered closed-end management investment company principally investing in debt and equity tranches of CLO vehicles. CLO investments may also include warehouse facilities, which are financing structures intended to aggregate loans that may be used to form the basis of a CLO vehicle.
Forward-Looking Statements
This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update such statements to reflect subsequent events, except as may be required by law.
ISELIN, N.J., June 10, 2025 (GLOBE NEWSWIRE) — Provident Bank, a leading New Jersey-based financial institution, announced the formal opening of its fourth branch in Newark, N.J., demonstrating its ongoing commitment to serving the financial needs of local businesses and consumers. The new branch, led by Israel Morales, Vice President, will be conveniently located on the ground floor of the Ironside Newark Building at 110 Edison Place (between the Prudential Center and train station) and includes an ATM.
“We are excited to announce the newest branch in the City of Newark,” said Vito Giannola, Executive Vice President and Chief Banking Officer at Provident Bank. “This new location is part of our extensive network of more than 140 branches and further demonstrates our deep commitment to the communities we serve. With this new office, we will be focused on providing the Newark community with a convenient in-person experience and access to experienced, knowledgeable bankers who will assist local residents with their banking and lending needs.”
As part of its ongoing community engagement program, Provident Bank also announced it has partnered with three local non-profit organizations: Habitat for Humanity of Greater Newark, St. John’s Soup Kitchen, and Greater Life. Each organization received $2,500 during the bank’s ribbon cutting ceremony earlier this week, celebrating the city of Newark and this new branch office.
“This branch deepens Provident’s commitment and history of providing equitable access to credit and banking services to the consumers and small businesses of New Jersey’s largest city of more than 300,000 residents,” said Roxanne Camejo, Community Development Officer, Provident Bank. “Beyond banking, we are proud to directly invest in Newark’s future by donating to three impactful local charities, strengthening vital community programs.”
About Provident Bank Founded in Jersey City in 1839, Provident Bank is the oldest community-focused financial institution based in New Jersey and is the wholly owned subsidiary of Provident Financial Services, Inc. (NYSE:PFS). With assets of $24.22 billion as of March 31, 2025, Provident Bank offers a wide range of customized financial solutions for businesses and consumers with an exceptional customer experience delivered through its convenient network of more than 140 branches across New Jersey and parts of New York and Pennsylvania, via mobile and online banking, and from its customer contact center. The bank also provides fiduciary and wealth management services through its wholly owned subsidiary, Beacon Trust Company, and insurance services through its wholly owned subsidiary, Provident Protection Plus, Inc. To learn more about Provident Bank, go to www.provident.bank or call our customer contact center at 800.448.7768.
Media Contact: Keith Buscio Keith.Buscio@provident.bank
NEW YORK, June 10, 2025 (GLOBE NEWSWIRE) — Order.co, the world’s leading B2B Ecommerce Platform, today announced its release of an exclusive report, The State of AI in Procurement, Finance & Operations: 2025 Benchmark Report, detailing how back-office teams leverage AI based on a survey of 100+ professionals in procurement, finance, and accounting roles. Participants ranged from individual contributors to C-Suite leaders across a diverse range of industries, including retail, property management, health and wellness, nonprofits, and more.
The report breaks down the impressive results that early AI adopters have already achieved, analyzes the most common barriers to adoption, and offers a 7-stage AI adoption maturity model to help businesses succeed in their AI initiatives.
“AI transformation is happening in the back office faster than people might realize,” said Matt Garippa, Chief Business Officer and Co-founder at Order.co. “Whether teams are just getting started or are well into their AI adoption journey, understanding real-world use cases can help them move faster and avoid costly missteps. The businesses that will come out ahead are the ones taking action now, not waiting on the sidelines.”
Key findings from the report:
70% of organizations are actively exploring AI, yet only 11% have fully implemented it
Early AI adopters report transformational results:
Up to 50% cost savings
31–50% faster workflows
75% fewer procurement errors
91.7% of procurement teams are leveraging or planning to use AI for advanced spend analysis
80% of finance teams use AI for fraud detection and anomaly monitoring
83% of operations teams report AI as essential for process optimization and workflow automation
The report also features direct quotes from survey respondents, offering firsthand insights into how they plan to leverage AI in their specific roles. One Billing & Supplies Coordinator at a Law Firm shared, “I’m hopeful that with Generative AI, we’ll be able to assess costs more quickly and develop a better spending plan with improved item organization.” From a procurement and operations perspective, a Senior Director of Operations in the Retail Industry noted, “AI-driven analytics will likely enhance our ability to forecast demand more accurately, optimize supply chains, and even predict maintenance needs for physical products.”
Order.co simplifies business buying by combining the ease of online shopping with the sophistication of world-class purchase order and AP automation. The result? 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, and gain total control over spending – saving 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.
Media Contact
Allison Reich Senior Manager of Brand, Content & Enablement Allison.reich@order.co
Keith Barr was born only months before the historic Apollo 11 landing in 1969. While he was too young to witness that giant leap for mankind, the moment sparked a lifelong fascination that set him on a path to design technology that will carry astronauts farther into space than ever before. Today, Barr serves as a chief engineer and Orion Docking Lidar Field Test lead at NASA’s Johnson Space Center in Houston. He spearheads the field testing of docking lidars for the Orion spacecraft, which will carry astronauts to the Moon on the Artemis III mission. These lidars are critical to enabling Orion to autonomously dock with the human landing system on Artemis III — the mission that will land astronauts near the Moon’s South Pole for the first time in history.
“The Mercury, Gemini, and Apollo missions are some of humanity’s greatest technical achievements,” he said. “To be part of the Artemis chapter is a profound honor.” In recognition of his contributions, Barr was selected as a NASA Space Flight Awareness Honoree in 2025 for his exceptional dedication to astronaut safety and mission success. Established in 1963, NASA’s Space Flight Awareness Program celebrates individuals who play a vital role in supporting human spaceflight. The award is one of the highest honors presented to the agency’s workforce. With a career spanning over 25 years at Lockheed Martin, Barr is now recognized as a renowned leader in lidar systems—technologies that use laser light to measure distances. He has led numerous lidar deployments and test programs across commercial aviation, wind energy, and military markets. In 2019, Barr and his team began planning a multi-phase field campaign to validate Orion’s docking lidars under real-world conditions. They repurposed existing hardware, developed a drone-based simulation system, and conducted dynamic testing at Lockheed Martin facilities in Littleton, Colorado, and Santa Cruz, California. In Littleton, the team conducted two phases of testing at the Space Operations Simulation Center, evaluating performance across distances ranging from 50 meters to docking. At the Santa Cruz facility, they began much farther out at 6,500 meters and tested down to 10 meters, just before the final docking phase. Of all these efforts, Barr is especially proud of the ingenuity behind the Santa Cruz tests. To simulate a spacecraft docking scenario, he repurposed a lidar pointing gimbal and test trailer from previous projects and designed a drone-based test system with unprecedented accuracy. “An often-overlooked portion of any field campaign is the measurement and understanding of truth,” he said. “The system I designed allowed us to record lidar and target positions with accuracy never before demonstrated in outdoor docking lidar testing.”
The test stand at the Santa Cruz Facility had once been used for Agena upper stage rockets—a key piece of hardware used during the Gemini program in the 1960s. “We found a Gemini-era sticker on the door of the test bunker—likely from the time of Gemini VIII, the first space docking completed by Neil Armstrong and David Scott,” Barr said. “This really brought it home to me that we are simply part of the continuing story.”
Barr spent more than two decades working on WindTracer—a ground-based Doppler wind lidar system used to measure wind speed and turbulence at airports, wind farms, and in atmospheric research. The transition from WindTracer to Orion presented new challenges. “Moving onto a space program has a steep learning curve, but I have found success in this new arena and I have learned that I can adapt and I shouldn’t be nervous about the unknown,” he said. “Learning new technologies, applications, and skills keeps my career fun and exciting and I look forward to the next giant leap—whatever it is.”
Barr’s passion for flight moves in tandem with his pursuit of innovation. Over his career, he has flown over 1.6 million miles on commercial airlines. “I often joke that I’m on my fourth trip to the Moon and back—just in economy class,” he said. Before specializing in lidar systems, Barr flew as a captain and assistant chief pilot at New England Airlines, operating small aircraft like the Piper Cherokee 6 and the Britten-Norman Islander. He also worked at the National Center for Atmospheric Research, contributing to several NASA airborne missions aimed at unraveling the science behind global ozone depletion.
As Barr reflects on his journey, he hopes to pass along a sense of legacy to the Artemis Generation. “We are in the process of writing the next chapter of human space exploration history, and our actions, successes, and troubles will be studied and analyzed well into the future,” he said. “We all need to consider how our actions will shape history.”
Source: United Kingdom – Executive Government & Departments 2
Speech
Peter Kyle’s speech at London Tech Week 2025
A speech delivered by Secretary of State for Science, Innovation, and Technology, Peter Kyle, at London Tech Week on Tuesday 11 June 2025.
Last Thursday, I was in Salford for a CyberFirst event.
Hundreds of girls from across Greater Manchester were there.
Some of them were busy playing e-sports, hidden behind VR goggles.
Others were programming robots – or learning how to pitch a tech business.
But all of them said the same thing.
They were excited for the future they were starting to see. And what it meant for them
What really struck me was their ambition, hope and sheer enthusiasm.
It was as humbling as it was inspirational: but it made me think.
In government, we spend so much time talking about risk.
What happens if reform goes wrong?
Who is responsible – and who do we hold to account?
We often talk about making the state feel more like a start-up.
Less slow and static.
More agile and active.
But we have unique obligations to our citizens that we simply cannot ignore.
Duties to defend our national security and protect public health.
To make our streets safer and borders stronger.
It is understandable that these obligations might make us more cautious about change.
But, when countries or institutions become preoccupied with avoiding risk, they risk resisting innovation.
They might delay reform.
They might grasp too tightly to the here and now…
…and lose sight of the possibilities tomorrow could bring.
When this happens, caution slides into complacency.
Incrementalism gives way to inertia.
Worrying about getting every aspect of change right becomes fear of change itself.
And fearing the challenge of change is the fastest route for a great nation to become mired in stagnation.
When I spoke at London Tech Week last year, that’s what I saw.
Our citizens, they wanted change.
The sector wanted change.
But a refusal to face up to the risks change brings – or face down resistance to it…
…meant that government after government were stuck with a model we all knew was failing.
Suddenly, the real risk wasn’t trying something new.
It was doing nothing at all.
People waited months for hospital appointments.
Young people couldn’t find a good job in the town they called home.
Businesses unable to innovate, unable to invest, or unable to grow.
Stifled by a regulatory regime that was stuck in the past.
Unsure about whether to waste time applying for government contracts – because they always seemed to favour the same old suspects.
Undecided about whether to stay here in the UK – because they just couldn’t access the capital they needed to grow.
Too often in the last decade, Britain felt like a country short on ambition, long on apathy.
Where optimism shrank in the face of opposition.
On this stage last year, I said it was time for a change.
Time to seize the power of technology.
And wield it to deliver us towards a better future.
That is exactly what we’ve done.
I said we’d tear up planning rules.
And we have, making it easier to build the infrastructure that powers our digital economy.
I said we’d radically reform regulation.
And we have, cutting the time it takes to get new products and services onto the market and into people’s hands.
I said we’d design new digital tools with a streamlined state and make engaging with government easier than it’s ever been before.
And we have, from a digital driving licence and an app that will put public services into people’s hands.
To a new tool that will digitise decades-old planning records in minutes, slashing the time it takes to make decisions and get millions of new homes built right across our country.
And a platform that lets people in the public sector rate and review tech products, saving over a billion by helping councils and schools get better deals faster.
Now none of that has been without risk.
In early trials, the government chatbot we built started speaking French.
I’m relieved to tell you that, after a brief flirtation with life across the Channel, it’s firmly back on British soil.
But – even if its identity crisis had lasted a little longer – how many people would rather we’d stopped at the first sign of trouble?
What’s a bonjour here, an au revoir there….
… compared to hours spent on hold, waiting to work out whether your benefit payment has been made and made on time?
Trawling through webpage after webpage to work out what you need to do to start a business?
Because our choice actually was a simple one.
Towards a future that is bright, bold, but risky.
Or back to more of the same: stagnation and a slow but certain slide into decline.
Today, we find ourselves at another critical moment.
The risks we take – and the investments we make – will determine the path our country follows in the decades to come.
And we must once again seize the opportunities in front of us with courage and conviction.
A new partnership between my department, Imperial College and the World Economic Forum will see London host the new Centre for AI-Driven Innovation.
This is the first World Economic Forum Global Centre to be based right here in Britain.
Focused on accelerating the adoption of AI, it will ensure that we can embed AI across our economy and put it to work for working people.
And this is just the start.
Boston might be the birthplace of biotech.
But – with Google DeepMind on one side and the Crick on the other – King’s Cross is emerging as a global powerhouse for AI-driven drug discovery.
Today, we’re launching a new project, OpenBind, to create the world’s largest database explaining how drugs interact with the proteins they target.
20 times bigger than all the data collected worldwide over the last half a century, OpenBind will provide an exceptionally detailed picture of how diseases work.
And it could cut the cost of developing new treatments by up to £100 billion.
The results for the health of our people, our nation and our economy could be revolutionary.
As Demis Hassabis said himself, this is a brilliant initiative for UK science.
But initiatives like this will only succeed if we can attract top global talent.
Our tech success story wouldn’t have been possible without brilliant people choosing time and time again to call Britain home.
In an ever more competitive world, we simply cannot afford to lose that status.
So, we’ll be introducing a new scheme to attract the brightest and best brains to Britain.
Today, I can announce that we’re working with Advanced Research and Invention Agency (ARIA) and Pillar to double Encode AI for Science Fellowships and get top AI talent from around the world working in UK labs.
We’re also launching Turing AI Global Fellowships, which will bring AI experts from across the world to the UK and support them to carry out cutting-edge research.
At the same time, we’re starting a national skills drive at home, giving over a million students the chance to start careers in AI.
And creating a new generation of British leaders as our country enters the digital economic age.
Leaders just like the young people I met in Salford.
Talking to them about their hopes for the future, I couldn’t help but think about my own journey through education
Struggling with dyslexia, my teachers didn’t see any potential in me.
I was held back in remedial classes, I left at 16 with no qualifications to my name.
No sense of what the future would hold.
It wasn’t until I got a job at the Body Shop.
Until I met Anita Roddick.
And she saw something in me that I didn’t see in myself.
Sending me out to give speeches for her.
That I got over my fear of public speaking.
I then went to university.
And my life began to change.
I choose to tell that story.
Not because I think it’s unique.
I tell it because I think it’s all too common in this country.
And I think it says something about what is at stake right here today.
This government don’t take risks lightly.
Nor do we pursue change for change’s sake.
We choose the path of progressive change. To build a modern economy and opportunistic society.
We do so because any alternative leaves Britain poorer, weaker, more vulnerable in a complex world.
Less able to promote and protect our prosperity and security for all our citizens.
In the last year, the work of progressive change has begun.
But we will only succeed if you take risks, too.
If you choose to join us in transforming Britain for the better.
As the place you pick to build new data centres.
Or train new AI models.
The country you choose when you’re developing life-saving drugs.
Or designing the next generation of chips.
A bolder, brighter future for Britain is in our hands.
We’ve spent the last year getting the foundations right.
HONG KONG, June 10, 2025 (GLOBE NEWSWIRE) — Bennet Investment today announced a significant regulatory breakthrough as the Securities and Futures Commission (SFC) has successfully dismantled multiple fraudulent platforms that were unlawfully using its brand and those of other reputable firms.
The SFC’s recent crackdown followed an investigation into unauthorized entities impersonating licensed financial institutions to deceive investors. Several fake websites mimicking Bennet Investment’s branding were taken offline, thanks to swift action by the SFC in coordination with internet service providers.
“This decisive move by the SFC protects not only our brand but also safeguards investors from falling victim to financial scams,” said Darryl Martin, Finance Manager at Bennet Investment. “We applaud the Commission’s efforts and reaffirm our commitment to ensuring a transparent and secure investment environment.”
Bennet Investment is actively cooperating with regulators and urging investors to remain vigilant. Individuals are encouraged to verify financial service providers through the SFC’s public register before engaging in any investment activity.
To report suspicious activity or verify information, visit:
About Bennet Investment Bennet Investment is a leading wealth management firm known for ethical practices, regulatory compliance, and personalized investment solutions. The company proudly serves a global clientele with integrity and diligence.
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New York, N.Y., June 10, 2025 (GLOBE NEWSWIRE) — NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading advanced nuclear energy and technology company focused on developing clean energy solutions, today announced that it has appointed Rick Perry, former Governor of Texas and the United States Secretary of Energy from 2017 to 2019, as the Chairman of its Executive Advisory Board.
NANO Nuclear has assembled a distinguished Executive Advisory Board comprised of high-level military, scientific and governmental experts, including former generals, members of Congress, and other U.S. and international figures. These leaders provide deep industry knowledge and important contacts to NANO Nuclear’s senior management. While each member of the Board covers a particular expertise mandate, Gov. Perry will serve as Chair of the Executive Advisory Board and lead its overall efforts to assist NANO Nuclear.
“The United States has a distinguished legacy of nuclear‑energy innovation, and I’m confident NANO Nuclear will play an essential role in the next chapter,” said Rick Perry, Chairman of NANO Nuclear’s Executive Advisory Board. “As Secretary of Energy, I advocated for nuclear power because it offers an amazing prospect for a stable, safe, and efficient source of clean power. NANO Nuclear in particular is driving advancements in nuclear energy technology with its cutting edge microreactor designs and overall commercial strategy. I’m honored to join and lead NANO’s Executive Advisory Board, and I look forward to contributing my experience as this exciting company advances its vision to become a vertically integrated leader in the nuclear power sector.”
“It is an incredible honor to welcome Governor Perry as Chairman of our Executive Advisory Board,” said Jay Yu, Founder and Chairman of NANO Nuclear. “He is a thoughtful and experienced leader, with an in-depth knowledge of U.S. energy infrastructure and a great understanding of America’s energy needs. His leadership will help guide our efforts to put the U.S. at the forefront of nuclear technology and drive the next wave of innovation, which is sorely needed as the energy demands continue to rise in support of cutting-edge artificial intelligence, datacenters and other energy intensive advancements. I am confident that his expertise will be instrumental in the near- and long-term success of our mission.”
“Governor Perry’s record of public service and advocacy for nuclear energy align perfectly with our mission,” said James Walker, Chief Executive Officer of NANO Nuclear. “The relationships he built during his decades in public service, including his tenure as U.S. Secretary of Energy, will be invaluable as we make progress towards the demonstration, construction, and licensing phases of our reactor programs and other nuclear technology. His acceptance of this position affirms the progress we’ve made and reinforces our position at the forefront of advanced reactor technology.”
John Vonglis, NANO Nuclear’s Executive Director of Global Government Affairs, who served as the Chief Financial Officer (CFO) of the U.S. Department of Energy (DOE) and acting Director of ARPA-E under Gov. Perry when he was Secretary of Energy, added “I know first-hand the importance Secretary Perry places on endeavors focused on retaining America’s primacy in all sectors, but especially energy. His extensive wealth of experience will most certainly help propel NANO Nuclear to the next level, and I welcome the opportunity to again serve with this great leader.”
Rick Perry has led a life of public service, starting in the United States Air Force and continuing over two decades in elected office. He served as the 14th Secretary of Energy from 2017 to 2019 in the first Trump administration. As Secretary of Energy, Perry worked to advance energy policies to promote American energy independence, notably backing nuclear power.
Figure 1 – NANO Nuclear Appoints Former Secretary of Energy Rick Perry as Chairman of its Executive Advisory Board.
Prior to his service as Secretary of Energy, Perry served as the 47th governor of the State of Texas. His political career began in 1985 as a representative for a rural West Texas district in the state House of Representatives, and beginning in 1990, he served two terms as Texas Commissioner of Agriculture. Perry twice sought the Republican nomination for president, running in 2012 and again in 2016.
He attended Texas A&M University and graduated with a bachelor’s degree in animal science in 1972. Between 1972 and 1977, Perry served in the United States Air Force, flying C‑130 tactical airlift aircraft in the U.S., Europe, and the Middle East; by the time of his discharge, he had attained the rank of captain.
About NANO Nuclear Energy, Inc.
NANO Nuclear Energy Inc. (NASDAQ: NNE) is an advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across five business lines: (i) cutting edge portable and other microreactor technologies, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be listed publicly in the U.S.
Led by a world-class nuclear engineering team, NANO Nuclear’s reactor products in development include patented KRONOS MMR™ Energy System, a stationary high-temperature gas-cooled reactor that is in construction permit pre-application engagement U.S. Nuclear Regulatory Commission (NRC) in collaboration with University of Illinois Urbana-Champaign (U. of I.), “ZEUS”, a solid core battery reactor, and “ODIN”, a low-pressure coolant reactor, and the space focused, portable LOKI MMR™, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors.
Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, is led by former executives from the largest transportation company in the world aiming to build a North American transportation company that will provide commercial quantities of HALEU fuel to small modular reactors, microreactor companies, national laboratories, military, and DOE programs. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy. Assuming development and commercialization, AFT is expected to form part of the only vertically integrated nuclear fuel business of its kind in North America.
HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry.
NANO Nuclear Space Inc. (NNS), a NANO Nuclear subsidiary, is exploring the potential commercial applications of NANO Nuclear’s developing micronuclear reactor technology in space. NNS is focusing on applications such as the LOKI MMR™ system and other power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS’ initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon’s surface.
This news release and statements of NANO Nuclear’s management in connection with this news release contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. In this press release, forward-looking statements relate to the anticipated benefits to NANO Nuclear of Gov. Perry joining as Chairman of the Company’s Executive Advisory Board. These and other forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond our control. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy (“DOE”) or related state or non-U.S. nuclear fuel licensing submissions, (ii) risks related the development of new or advanced technology and the acquisition of complimentary technology or businesses, including difficulties with design and testing, cost overruns, regulatory delays, integration issues and the development of competitive technology, (iii) our ability to obtain contracts and funding to be able to continue operations, (iv) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology in the timelines we anticipate, if ever, (v) risks related to the impact of U.S. and non-U.S. government regulation, policies and licensing requirements, including by the DOE and the U.S. Nuclear Regulatory Commission, including those associated with the enacted ADVANCE Act and the May 23, 2025 presidential executive orders seeking to support nuclear energy, and (vi) similar risks and uncertainties associated with the operating an early stage business a highly regulated and rapidly evolving industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.
NEW YORK, June 10, 2025 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced MTL Cannabis Corp. (CSE: MTLC; OTCQX: MTLNF), a company engaged in the cultivation and production of cannabis products for recreational and medical purposes, has qualified to trade on the OTCQX® Best Market. MTL Cannabis Corp. upgraded to OTCQX from the OTCQB® Venture Market.
MTL Cannabis Corp. begins trading today on OTCQX under the symbol “MTLNF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.
Our upgrade to the OTCQX® Best Market marks a significant milestone for MTL Cannabis Corp. as we expand our presence and accessibility in the US market,” said Michael Perron, CEO of MTL Cannabis Corp. “This step underscores our commitment to reaching a broader investor base, increasing liquidity, and positioning MTL Cannabis Corp. as a key player in the global cannabis industry.”
About MTL Cannabis Corp. MTL Cannabis Corp., through its subsidiaries, engages in the cultivation and production of cannabis products for recreational and medical purposes in Canada.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market, and Pink® Open Market.
Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.
OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATS™ are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.
To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.
NEW YORK, June 10, 2025 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Canadian Utilities Limited (TSX: CU; OTCQX: CDUAF), a diversified global energy infrastructure corporation, has qualified to trade on the OTCQX® Best Market. Canadian Utilities Limited upgraded to OTCQX from the Pink® market.
Canadian Utilities Limited begins trading today on OTCQX under the symbol “CDUAF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.
About Canadian Utilities Limited Canadian Utilities Limited and its subsidiary and affiliate companies have approximately 9,100 employees and assets of $24 billion. Canadian Utilities, an ATCO company, is a diversified global energy infrastructure corporation delivering essential services and innovative business solutions. ATCO Energy Systems delivers energy for an evolving world through its electricity and natural gas transmission and distribution, and international electricity operations segments. ATCO EnPower creates sustainable energy solutions in the areas of electricity generation, energy storage, industrial water and cleaner fuels. ATCO Australia develops, builds, owns and operates energy and infrastructure assets.
About OTC Markets Group Inc. OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.
Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.
OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATSTM are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.
To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.
NEW YORK, June 10, 2025 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced ATCO Ltd. (TSX: ACO.X; OTCQX: ACLLF), a global enterprise provider of essential services in the energy, logistics and transportation, shelter, and real estate industries, has qualified to trade on the OTCQX® Best Market. ATCO Ltd. upgraded to OTCQX from the Pink® market.
ATCO Ltd. begins trading today on OTCQX under the symbol “ACLLF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.
About ATCO Ltd. As a global enterprise, ATCO Ltd. and its subsidiary and affiliate companies have approximately 21,000 employees and assets of $27 billion. ATCO is committed to future prosperity by working to meet the world’s essential energy, housing, security and transportation challenges. ATCO Structures designs, builds and delivers products to service the essential need for housing and shelter around the globe. ATCO Frontec provides operational support services to government, defence and commercial clients. ATCO Energy Systems delivers essential energy for an evolving world through its electricity and natural gas transmission and distribution, and international electricity operations. ATCO EnPower creates sustainable energy solutions in the areas of electricity generation, energy storage, industrial water and cleaner fuels. ATCO Australia develops, builds, owns and operates energy and infrastructure assets. ATCO Energy provides retail electricity and natural gas services, home maintenance services and professional home advice that bring exceptional comfort, peace of mind and freedom to homeowners and customers. ATCO also has investments in ports and transportation logistics, the processing and marketing of ash, retail food services and commercial real estate.
About OTC Markets Group Inc. OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.
Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.
OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATS™ are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.
To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.