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Category: Economy

  • MIL-OSI USA: VIDEO: Pressley, Advocates, Families Tell ICE: Hands Off Our Immigrant Neighbors

    Source: United States House of Representatives – Congresswoman Ayanna Pressley (MA-07)

    Convening Comes Amid Disturbing Uptick in ICE Activity Across Massachusetts 7th

    Press Conference (YouTube) | Photos (Dropbox)

    EAST BOSTON – Today, Congresswoman Ayanna Pressley (MA-07) convened a roundtable and press conference in East Boston with immigrant justice advocates, local leaders, and impacted families to tell Donald Trump and U.S. Immigration and Customs Enforcement (ICE): Hands off our immigrant neighbors. The convening came amid an uptick in ICE activity across the Massachusetts 7th Congressional District and the Commonwealth, including a series of harrowing incidents in East Boston, Chelsea, Everett, and other communities.

    “Donald Trump wants a citizenry that is inactive and indifferent to the suffering of their neighbors, including our immigrant families in the Massachusetts 7th. But we will not stand idly by while he and ICE carry out their cruel, unlawful, and inhumane mass deportation agenda,” said Congresswoman Ayanna Pressley. “We stand with our immigrant neighbors. Children should not live in fear of their parents disappearing. Elders should not live in fear of going to the grocery store or their faith house. I was proud to convene an urgent and timely discussion about how we can push back against this harmful agenda, uplift impacted families, and share resources. I’m grateful to our advocates, families, and local partners for joining us.”

    Congresswoman Pressley was joined at the convening by State Senator Lydia Edwards, State Senator Sal DiDomenico, State Representative Adrian Madaro, Boston City Councilor Gabriela Coletta-Zapata, Chelsea City Manager Fidel Maltez, Ivan Espinoza-Madrigal of Lawyers for Civil Rights Boston, Nicole Eigbrett of the Asian American Resource Workshop (AARW), Caitlyn Burgess of MacMurray and Associates, Mercedes Pineda, an East Boston resident, Yolanda, a Randolph resident, Kenia Guerrero, a Chelsea resident, as well as impacted families, local elected officials, and community members.

    “East Boston is a proud, resilient, and diverse community — and our immigrant neighbors are the heart of it. The recent escalation in ICE activity is not only cruel, it’s dangerous,” said Senator Lydia Edwards, State Senator for Third Suffolk. “No one should live in fear for simply existing in their own neighborhood. I stand with Congresswoman Pressley, local advocates, and the families impacted in calling for humanity, accountability, and the end of these terrorizing practices. Our communities deserve safety, dignity, and the freedom to thrive.”

    “The cities I represent are vibrant and resilient because we welcome people from all parts of the world with open arms and lift each other up,” said State Senator Sal DiDomenico. “The Trump administration is tearing families apart and stoking fear, hoping that we will all sit back and not respond. I am proud to speak up against this abhorrent assault on our freedoms and our communities alongside my colleagues at all levels of government, impacted loved ones, and advocates on the ground fighting to protect our neighbors and keep families together. I want to thank Congresswoman Ayanna Pressley for convening this roundtable and continuing to sound the alarm about this crisis.”

    ”Our immigrant neighbors help form the backbone of our communities,” said State Representative Adrian Madaro. “They are caring parents, dedicated workers, and courageous dreamers who came here seeking a better life for themselves and their loved ones. Entire sectors of our economy that are essential to our collective wellbeing depend on their labor. Yet ICE has been harassing and targeting them in East Boston and surrounding communities for weeks, going as far as taking individuals with legal status and no criminal histories. Their desperation to fill jails with immigrants has torn families apart and inflicted deep emotional trauma. It has left many facing staggering legal costs. ICE is operating with alarming disregard for both the law and human dignity. They’ve sent ripple effects through several of our school communities, waiting outside during drop off, tearing parents from their children for all to see. These actions do not make us safer — they fracture the trust that holds our communities together. This is cruelty, not justice. Our neighbors deserve protection, not persecution.”

    “East Boston is home to vibrant, resilient immigrant communities who deserve to live without fear. We stand in solidarity with our neighbors and with leaders like Congresswoman Pressley in calling for dignity, safety, and justice. No one should be targeted for simply trying to build a better life. When they come for our neighbors, they come for all of us,” said Boston City Councilor Gabriela Coletta Zapata.

    “The recent actions by federal immigration agents have inflicted fear and trauma in our community. This is not just about immigration enforcement—this is about the violent persecution of our residents and the destruction of trust between government and the people we serve. Chelsea is a city of immigrants. We will not stand by while our neighbors are racially profiled, ripped from their homes and families, and treated with cruelty and inhumanity. We stand united in defense of every resident’s dignity and right to live without fear,” said Fidel Maltez, Chelsea City Manager.

    “Today, I stood in full support of Congresswoman Ayanna Pressley’s powerful call to action in East Boston, where she convened a roundtable and press conference with immigrant justice advocates, local leaders, and families impacted by increased ICE activity,” said Boston City Councilor Enrique Pepén. “The message was clear: Hands off our immigrant neighbors. Here in the City of Boston, we are unwavering in our commitment to protect and uplift our immigrant communities. Immigrants are an integral part of our city’s fabric—they are our neighbors, colleagues, caregivers, and small business owners. They are not only welcome here; they are essential to the strength, diversity, and vibrancy of Boston. We reject the fear tactics and inhumane practices that target our immigrant families. As leaders, we must stand up to any efforts that seek to divide or dehumanize our communities. I will continue to advocate on behalf of our immigrant neighbors and proudly support Congresswoman Pressley’s efforts to demand dignity, safety, and justice for all.”

    “Federal agents say that they target people with terrorist ties, but they are the ones terrorizing the people of Chelsea,” said Chelsea City Councilor Roberto Jiménez-Rivera. “They kidnap bread winners, hard working people with legal status, and children. Chelsea and other immigrant communities are getting punched in the face every day, and we need other communities to stand up with us and defend Massachusetts. Congresswoman Pressley is doing everything she can, and it would be a dereliction of duty for every other level of government to ignore this call to action. We must do as much as possible to pass legislation that protects our immigrant neighbors everywhere.”

    “The Trump administration has chosen to deliberately attack and break my community in the city of Chelsea,” said Chelsea City Councilor Manuel Teshe. “Now is when we come together and fight because we’re the last line of defense against this tyranny. I stand strong next to Congresswoman Pressley who courageously represents each and every one of us in D.C.”

    “The federal government’s unlawful targeting of our immigrant residents makes our communities less safe. The people of Cambridge stand with our immigrant neighbors to demand due process for everyone because none of us are safe unless we all are,” said Cambridge City Councilor Jivan Sobrinho-Wheeler.

    ““As an immigrant from Cameroon and a public official in Somerville, I know firsthand the fear and uncertainty that many in our communities face. Today, I stand not only as a policymaker but as someone who understands what it means to seek safety, dignity, and belonging in a new land. The recent ICE raids are a cruel reminder of how fragile that sense of safety can be. I’m deeply grateful to Congresswoman Ayanna Pressley for organizing this moment of solidarity. Her leadership reminds us that our communities are strongest when we stand together to defend the rights and humanity of every resident—no exceptions,” said Somerville City Councilor Wilfred Mbah.

    “Lawyers for Civil Rights applauds elected officials for standing with the community. We demand that the federal government uphold the Constitution and respect the rule of law. We will safeguard civil rights to prevent their erosion under the guise of immigration enforcement,” said Ivan Espinoza-Madrigal, Executive Director of Lawyers for Civil Rights.

    “At MacMurray and Associates, LLC, our mission is to empower the immigrant community by providing strong legal representation in both immigration court and before USCIS. In the wake of the recent ICE raids in our district, we have stood on the front lines—defending the rights of those detained, working tirelessly to reunify families, and ensuring that due process is not abandoned. Our partnership with the community and Congresswoman Pressley has been essential in responding rapidly and effectively to these injustices, giving voice and strength to those most vulnerable. Together, we continue to fight for a system where dignity and justice are not denied to immigrants seeking safety and opportunity, “ said Attorney Caitlyn Burgess.

    “The Asian American Resource Workshop (AARW) thanks Congresswoman Pressley for her partnership in this struggle for immigrant justice since the first Trump administration, during the height of raids and deportations in the Cambodian community,” said Nicole Eigbrett, Co-Executive Director of AARW. “Now, in his second term, we are experiencing Asian immigrants targeted on multiple fronts, including undocumented Asian workers, Chinese and Muslim international students, Southeast Asians with past criminal records, and TPS holders from Nepal. AARW will continue organizing to stop ICE raids, detentions, deportations within our community — but also across race and nationalities for solidarity with all immigrant communities in Massachusetts.”

    Video of the press conference is available here and photos are available here.

    Rep. Pressley has been a vocal advocate for our immigrant neighbors and everyone harmed by Donald Trump’s unlawful, anti-immigrant, and anti-free speech agenda. Congresswoman Pressley, who serves as Co-Chair for the House Haiti Caucus and represents one of the largest Haitian diaspora communities in the country, has also been an outspoken critic of the Trump Administration’s ending of Temporary Protected Status for Haiti, Venezuela, El Salvador, and other countries grappling with humanitarian crises.

    Rep. Pressley has also been an outspoken critic against the unlawful detention of Rümeysa Öztürk, a Tufts PhD student, Somerville resident, and constituent of the Congresswoman’s who was unlawfully detained for weeks in retaliation for her protected speech. After weeks of advocacy and Congressional oversight, including a visit to detention centers in Louisiana, Rep. Pressley and Senator Ed Markey welcomed Ms. Öztürk to Massachusetts following her arrival from ICE detention in Louisiana.

    Rep. Pressley has also spoken out against reports of ICE activity in Boston and other municipalities in Massachusetts.

    In January 2025, Rep. Pressley joined her colleagues in reintroducing the Neighbors Not Enemies Act, legislation that would repeal the antiquated Alien Enemies Act of 1798, which has been used to target innocent immigrants based on nothing more than national origin without affording due process rights, and which Donald Trump has used in his plans for mass deportations.

    ###

    MIL OSI USA News –

    June 3, 2025
  • MIL-OSI Africa: Secretary-General’s remarks on the Election of the President of the 80th Session of the General Assembly [bilingual as delivered; scroll down for all-English and all-French]

    Source: United Nations – English

    et me begin by congratulating Her Excellency, Annalena Baerbock of Germany on her election as the President of the 80th Session of the General Assembly. 

    And to our current President of this 79th session — His Excellency Philemon Yang of Cameroon — thank you for your leadership.

    From day one, you have presided over the General Assembly with wisdom, vision and skill.

    You hit the ground running with the Summit of the Future.

    And, since then, you have carried that work forward, taking on critical global issues, preparing for numerous milestone events in this 80th anniversary year, working to strengthen our institution, and serving as a powerful voice and advocate for Africa and its enormous potential.

    President Yang, thank you for your advice, guidance and deep commitment to the United Nations and multilateral solutions.

    Excellencies,

    President-elect Baerbock, as you prepare to lead the 80th General Assembly, you do so at a difficult and uncertain moment for the multilateral system.

    Conflicts, climate catastrophe, poverty and inequality continue to challenge the human family.

    Mistrust and divisions are rife.

    The Sustainable Development Goals are alarmingly off-track.

    Aid and development funding are drying up.

    And our institutions and structures still reflect the world of yesterday, not a vision of tomorrow.

    This is a moment for us to unite, to forge common solutions, and to take action to confront these challenges.

    President-elect Baerbock’s vision — “Better Together” — is an inspiring rallying cry for today’s world and the global problem-solving system embodied by the United Nations to address these challenges.

    Her priority issues range from peace and development to reform and transparency in the United Nations. 

    She brings a wealth of government and diplomatic experience to this task — including serving as her country’s Foreign Minister.

    And let us not forget the historic significance of her being only the fifth woman to be elected President of the General Assembly.

    President-elect Baerbock, you can count on my full support as you take on this important responsibility.

    Excellences,

    Depuis 80 ans, l’Assemblée générale des Nations unies joue un rôle indispensable pour bâtir des consensus, trouver des solutions, et agir pour un monde meilleur, plus pacifique et plus égalitaire.

    Alors que nous approchons de la fin de la 79ème session et nous préparons à l’ouverture de la 80ème, engageons-nous à faire vivre les valeurs de solidarité et de collaboration qui définissent notre Organisation depuis sa création.

    Je vous remercie.

    ****
    [all-English]

    Let me begin by congratulating Her Excellency, Annalena Baerbock of Germany on her election as the President of the 80th Session of the General Assembly. 

    And to our current President of this 79th session — His Excellency Philemon Yang of Cameroon — thank you for your leadership.

    From day one, you have presided over the General Assembly with wisdom, vision and skill.

    You hit the ground running with the Summit of the Future.

    And, since then, you have carried that work forward, taking on critical global issues, preparing for numerous milestone events in this 80th anniversary year, working to strengthen our institution, and serving as a powerful voice and advocate for Africa and its enormous potential.

    President Yang, thank you for your advice, guidance and deep commitment to the United Nations and multilateral solutions.

    Excellencies,

    President-elect Baerbock, as you prepare to lead the 80th General Assembly, you do so at a difficult and uncertain moment for the multilateral system.

    Conflicts, climate catastrophe, poverty and inequality continue to challenge the human family.

    Mistrust and divisions are rife.

    The Sustainable Development Goals are alarmingly off-track.

    Aid and development funding are drying up.

    And our institutions and structures still reflect the world of yesterday, not a vision of tomorrow.

    This is a moment for us to unite, to forge common solutions, and to take action to confront these challenges.

    President-elect Baerbock’s vision — “Better Together” — is an inspiring rallying cry for today’s world and the global problem-solving system embodied by the United Nations to address these challenges.

    Her priority issues range from peace and development to reform and transparency in the United Nations. 

    She brings a wealth of government and diplomatic experience to this task — including serving as her country’s Foreign Minister.

    And let us not forget the historic significance of her being only the fifth woman to be elected President of the General Assembly.

    President-elect Baerbock, you can count on my full support as you take on this important responsibility.

    Excellencies,

    For 80 years, the United Nations General Assembly has played an indispensable role in forging consensus, finding solutions and taking action to build a better, more peaceful and equal world.

    As we look ahead to the end of the 79th session, and prepare for the start of the 80th, let us strive to live up to the values of solidarity and collaboration that have defined this organization from the very start.

    Thank you.

    *****
    [all-French]

    Permettez-moi tout d’abord de féliciter Madame Annalena Baerbock, de l’Allemagne, qui vient d’être élue Présidente de la 80e session de l’Assemblée générale.

    Quant à vous, Monsieur Philemon Yang, du Cameroun, qui présidez actuellement la 79e session, je tiens à vous remercier de votre leadership.

    Dès le premier jour, vous avez présidé l’Assemblée générale avec sagesse, hauteur de vue et compétence.

    Le Sommet de l’avenir a été votre baptême du feu.

    Depuis lors, vous avez poursuivi sans relâche l’action engagée, vous emparant des grandes questions internationales, organisant les nombreuses manifestations qui ont jalonné le 80e anniversaire de l’Organisation, œuvrant au renforcement de notre institution et vous faisant le porte-voix et le défenseur de l’Afrique et de son énorme potentiel.

    Monsieur le Président, je vous remercie des orientations et de la direction données, ainsi que de votre profond attachement à l’Organisation des Nations Unies et aux solutions multilatérales.

    Mesdames et Messieurs,

    Madame la Présidente, alors même que vous vous préparez à diriger la 80e Assemblée générale, le système multilatéral vit un moment difficile et incertain.

    Les conflits, la catastrophe climatique, la pauvreté et les inégalités continuent de fragiliser la famille humaine.

    La méfiance et les divisions s’enracinent.

    Les objectifs de développement durable sont encore très loin d’être atteints.

    Le financement de l’aide et du développement se tarit.

    Enfin, nos institutions et nos structures sont toujours le reflet du monde d’hier et n’incarnent aucune vision pour demain.

    Le moment est venu pour nous de nous unir, de trouver des solutions communes et d’agir ensemble pour relever ces défis.

    La vision portée par Madame la Présidente et qu’incarnent ces mots – « Mieux ensemble » – est à même de rallier et d’inspirer le monde d’aujourd’hui et le système international de règlement des problèmes qu’est l’ONU et de leur permettre de remédier aux difficultés.

    Ses priorités vont de la paix et du développement à la réforme et à la transparence à l’ONU.

    Elle apportera à sa tâche une riche expérience gouvernementale et diplomatique, ayant notamment été la Ministre des affaires étrangères de son pays.

    Enfin, n’oublions pas la dimension historique que revêt son élection, puisqu’elle n’est que la cinquième femme à être élue Présidente de l’Assemblée générale.

    Madame la Présidente, vous pouvez compter sur mon appui total dans l’exercice de cette lourde responsabilité.

    Excellences,

    Depuis 80 ans, l’Assemblée générale des Nations unies joue un rôle indispensable pour bâtir des consensus, trouver des solutions, et agir pour un monde meilleur, plus pacifique et plus égalitaire.

    Alors que nous approchons de la fin de la 79ème session et nous préparons à l’ouverture de la 80ème, engageons-nous à faire vivre les valeurs de solidarité et de collaboration qui définissent notre Organisation depuis sa création.

    Je vous remercie.

    MIL OSI Africa –

    June 3, 2025
  • MIL-OSI USA: Padilla, ENR Colleagues Urge Interior Inspector General to Investigate Threats Posed by Workforce Reductions at Bureau of Reclamation

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)

    Padilla, ENR Colleagues Urge Interior Inspector General to Investigate Threats Posed by Workforce Reductions at Bureau of Reclamation

    Senators to DOI Acting Inspector General: “We are concerned that the Administration’s actions to gut the agency of qualified public servants could leave critical water infrastructure and communities vulnerable to operational disruptions”
    WASHINGTON, D.C. — U.S. Senator Alex Padilla (D-Calif.), a member of the Senate Energy and Natural Resources (ENR) Committee, joined his ENR colleagues in urging U.S. Department of the Interior Acting Inspector General (IG) Caryl Brzymialkiewicz to evaluate the consequences of the Trump Administration’s workforce reductions at the Bureau of Reclamation (BOR). The Senators warned that these cuts are preventing the agency from fulfilling its statutory mission and implementing relevant programs and activities authorized by Congress, including supporting essential water infrastructure projects in California and across the West.
    According to reports, BOR has lost 1,400 public servants — approximately 25 percent of the agency’s entire workforce — since the Trump Administration began its assault on the federal workforce in January. Additionally, President Trump’s Fiscal Year 2026 budget request proposes a $600 million (34 percent) cut to BOR funding, jeopardizing important water infrastructure projects.
    “Recent reductions in workforce significantly threaten BOR’s ability to safely and reliably deliver water to communities and farmers, keep waterways flowing for fish and wildlife across the western United States, and produce reliable electricity,” wrote the Senators.
    BOR is the largest wholesale water supplier in the United States — operating many critical California water management projects and delivering trillions of gallons of water to more than 31 million people and 10 million acres of farmland. The farmland managed by BOR produces over 60 percent of the nation’s vegetables and more than 25 percent of its fruits and nuts.
    BOR is also the second-largest producer of hydroelectric power in the country. The facilities BOR operates generate 40 million megawatt-hours of electricity each year.
    The Senators expressed concern over the lack of strategy and harm to public safety that these workforce reductions pose.
    “Rapid reductions to BOR’s workforce raise significant concerns about the Bureau’s ability to meet its core responsibilities, particularly inspecting dams and identifying threats to public safety,” continued the Senators.
    “BOR needs experienced personnel with the necessary expertise to manage critical infrastructure. We are concerned that the Administration’s actions to gut the agency of qualified public servants could leave critical water infrastructure and communities vulnerable to operational disruptions,” added the Senators.
    The Senators concluded by pushing the IG to investigate whether recent workforce reductions at BOR prevent the Bureau from carrying out its obligations. The letter was led by ENR Ranking Member Martin Heinrich (D-N.M.) and signed by fellow ENR Democratic members U.S. Senators Maria Cantwell (D-Wash.), Catherine Cortez Masto (D-Nev.), Ruben Gallego (D-Ariz.), John Hickenlooper (D-Colo.), Mazie Hirono (D-Hawaii), and Ron Wyden (D-Ore.).
    Earlier this year, Senators Padilla and Adam Schiff (D-Calif.) pushed the Department of the Interior to prevent further federal workforce cuts to BOR, warning of the devastating effects of these reductions on water supply systems in California and across the nation. In that letter, Padilla and Schiff highlighted three vital water projects that depend on the expertise of Reclamation staff for managing water in the West: the Klamath Project, the Central Valley Project (CVP), and the Lower Colorado Regional Office. In the face of public pressure from the Senators and 14 California water officials, BOR paused a planned additional round of workforce cuts. Padilla and Schiff previously urged the Department of the Interior to immediately stop its freeze of Inflation Reduction Act funding for the Lower Colorado River System Conservation and Efficiency Program, which is managed by BOR.
    Full text of the letter is available here and below:
    Dear Acting Inspector General Brzymialkiewicz:
    We write to request that your office evaluate the extent to which workforce reductions at the Bureau of Reclamation (“Bureau” or “BOR”) prevent the agency from fulfilling its statutory mission and implementing relevant programs and activities authorized by Congress. The Bureau is the largest wholesaler of water in the United States—delivering trillions of gallons of water to more than 31 million people. The Bureau is also the second largest producer of hydroelectric power in the country. The facilities BOR operate generate 40 million megawatt-hours of electricity each year. However, recent reductions in workforce significantly threaten BOR’s ability to safely and reliably deliver water to communities and farmers, keep waterways flowing for fish and wildlife across the western United States, and produce reliable electricity.
    According to reports, BOR has lost 1,400 public servants since the administration began its assault on the federal workforce. The positions reportedly eliminated include mechanics, engineers, and fish biology specialists—personnel with considerable expertise. Through firings of probational workers, buyouts, early retirements, and other related actions, BOR has shrunk by 25 percent. This workforce reduction has lacked a coherent, mission- and safety- driven strategy and instead led to the departure of experienced personnel—some with over 20 years of experience—leaving the Bureau susceptible to operational disruptions.
    Rapid reductions to BOR’s workforce raise significant concerns about the Bureau’s ability to meet its core responsibilities, particularly inspecting dams and identifying threats to public safety. BOR manages over 450 dams throughout 17 western states. Previously, BOR’s dam safety program identified over 300 high and significant hazard dams at more than 200 facilities. The age and complex nature of dam systems necessitates having experienced staff trained in the operation of such systems. In fact, as your office identified in a September 2023 report, approximately 90 percent of BOR’s dams are more than 50 years old and “[a]ging dams increase the risk of dam failures.” BOR needs experienced personnel with the necessary expertise to manage critical infrastructure. We are concerned that the administration’s actions to gut the agency of qualified public servants could leave critical water infrastructure and communities vulnerable to operational disruptions.
    Your office is responsible for promoting “accountability, integrity, economy, efficiency, and effectiveness within” the DOI and identifying “ways to improve the DOI’s programs and operations by offering specific, actionable recommendations that lead to positive change.” We therefore urge you to evaluate whether recent workforce reductions at BOR inhibit the Bureau from carrying out its obligations.
    Thank you for your attention to this important matter.
    Sincerely,

    MIL OSI USA News –

    June 3, 2025
  • MIL-OSI United Kingdom: Major £5 billion technology investment accelerates UK defence innovation in a European first

    Source: United Kingdom – Executive Government & Departments 3

    Press release

    Major £5 billion technology investment accelerates UK defence innovation in a European first

    More than £4 billion drive towards autonomous systems to shape UK military future and boost export potential, supporting the Plan for Change

    UK troops and warships will be protected by drone and laser weapon technology through a major £5 billion investment, as the UK seeks to become the leading edge of innovation in NATO under the Strategic Defence Review (SDR) and driven by lessons from Ukraine. 

    The major funding package includes more than £4 billion for autonomous systems and a further investment of nearly £1 billion for Directed Energy Weapons (DEW) this Parliament – including the iconic DragonFire laser – boosting frontline capabilities while creating 300 skilled jobs across the country. 

    DragonFire is set to be the first high power laser capability entering service from a European nation, with the first Royal Navy Type 45 destroyer due to be fitted in 2027.  

    The SDR recommends that an immediate priority for force transformation should be a shift towards greater use of autonomy. To help achieve this, it says Defence must incorporate uncrewed and autonomous systems in high numbers over the next five years and make targeted investment in the development of novel directed energy weapons.  

    Today’s autonomous systems investment – of which more than £2 billion is new funding following the Government‘s historic uplift in defence spending to 2.5% of GDP from 2027– will see autonomous systems, including drones improve accuracy and lethality for our Armed Forces, and boost UK export potential. 

    It comes after major announcements ahead of the SDR publication, including: the building of up to a dozen new attack submarines for the Royal Navy; up to 7,000 new UK-built long-range weapons to procured; at least six new munitions and energetics factories in the UK; more than £1.5 billion to improve the state of military housing; and more than £1 billion for pioneering technology to spearhead battlefield engagements.

    The new DEW capabilities will give the UK an edge, creating low cost and sustainable alternatives to missiles to shoot down targets, such as drones, at the speed of light, reduce collateral damage and have a low-cost per shot, reducing reliance on expensive ammunition.   

    The systems will be tailored to the conditions in which they will operate – whether at sea, on land, or in the air – and will work alongside crewed assets, such as current and future fighter jets.  

    Both investments reflect the SDR’s vision for UK innovation to be driven by the lessons from Ukraine – harnessing drones, data and digital warfare to make our Armed Forces stronger and safer. 

    The SDR sets a path for the next decade and beyond to transform defence and make the UK secure at home and strong abroad. It ends the hollowing out of our Armed Forces and will also drive innovation, jobs and growth across the country, allowing the UK to lead in a stronger NATO as part of this Government’s Plan for Change.  

    Defence Secretary, John Healey MP said:

    These investments will mean the most significant advance in UK defence technology in decades. We will ensure our Armed Forces have the cutting-edge capabilities they need to meet the challenges of a rapidly changing world.

    We are delivering the Strategic Defence Review’s vision to put the UK at the leading edge of innovation in NATO, by backing British industry and fast-tracking the kit of the future into the hands of frontline troops.

    This Government’s Plan for Change will harness the benefits of technology, create hundreds of new jobs and make defence a powerful engine for economic growth.

    Chancellor of the Exchequer, Rachel Reeves said:  

    A strong economy needs a strong national defence. That’s why we are delivering the biggest sustained increase in defence spending since the Cold War—putting innovation and industrial strength at the centre of our national security strategy.

    Additional funding for autonomous systems maximises the defence industry’s potential to drive long term economic growth and productivity – helping us deliver our Plan for Change while keeping the UK safe.

    A new DEW will be created for the British Army this decade, alongside DragonFire being integrated on four Royal Navy warships, with the first ship due to be fitted in 2027, forming part of a layered air defence system to better protect UK forces while reducing collateral damage and reducing reliance on expensive ammunition. 

    DEW technology already supports 200 high-skilled UK jobs, with a further 300 positions to be created across the Ministry of Defence and industry partners. It’s another example of defence as an engine for UK economic growth, delivering on the Plan for Change.  

    In addition, a new Drone Centre will be established to accelerate exploitation of small, uncrewed air systems across all three military services, helping to deliver them to the front line faster.   

    The Centre will provide a central knowledge base to tackle any emerging legislative changes, develop best practice and better manage the interaction with industry. Crucially, it will apply battlefield lessons from Ukraine where drones now kill more people than traditional artillery. Detailed organisational arrangements will be developed over the coming months. 

    During the SDR process, 1,700 individuals, political parties, and organisations submitted more than 8,000 responses. 200 companies provided written contributions, more than 120 senior experts took part in the review and challenge panels, and nearly 50 meetings took place between the Reviewers and our senior military figures.

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    Updates to this page

    Published 2 June 2025

    MIL OSI United Kingdom –

    June 3, 2025
  • MIL-OSI USA: U.S. Rep. Kathy Castor Calls on Department of Labor to Keep Doors Open at Pinellas Job Corps Center

    Source: United States House of Representatives – Reprepsentative Kathy Castor (FL14)

    ST. PETERSBURG, Fla. – Today, U.S. Rep. Kathy Castor (FL-14) urged the U.S. Department of Labor (DOL) Secretary Lori Chavez-Remer to reverse DOL’s decision to close the Pinellas County Job Corps Center. 

    The abrupt decision to pause Job Corps operations nationwide is creating deep concerns for the more than 250 students affected by the order.

    “This harsh and arbitrary decision casts students into an uncertain future, disrupts job training, and creates housing insecurity for hundreds of young people across Florida,” said Rep. Castor. “This move will upend more than 60 years of progress and take away a vital resource that helps young people succeed. I urge the Department to reverse this order and work with our community to ensure these students are not left behind.”

    The Pinellas County Job Corps Center provides job training, education and housing for at-risk youth from across the state. DOL’s directive to pause operations at all contractor-run centers by June 30 follows the release of a report that purportedly relied on narrow and incomplete data. Castor is demanding transparency from DOL regarding this hasty decision – which has a significant impact on at-risk youth – including the reliability of student performance numbers and how pandemic-related challenges were factored into the report.

    U.S. Rep. Castor is calling on the Department to delay the pause, revisit the data and commit to keeping opportunities alive for Florida students.

    Read the full letter here:

    Dear Secretary Chavez-DeRemer: 

    Thank you for the opportunity to relay my deep concern for the Department of Labor’s (DOL) decision to suddenly and arbitrarily close the Pinellas County, Florida Job Corps Center and cast 300 students into an uncertain future. I respectfully urge you to reverse the decision and answer the questions posed below. 

    For decades, Job Corps has provided a vital pathway to education, job training and self-sufficiency for young people who deserve a second chance. I am concerned, however, that DOL has proposed dismantling Job Corps, contrary to the direction of Congress. I have heard from local teachers and students how the sudden and arbitrary closure will undercut the mission and leave students in the lurch. The Pinellas County Job Corps Center serves 300 students who hail from across the state of Florida, 285 of whom receive housing, and employs 124 staff members. This order will displace students in the midst of their training, create housing insecurity, lay off dedicated staff and leave communities scrambling to fill the gap. 

    Staff and students have raised concerns about the cancellation of national contracts that provide critical services such as Wi-Fi access on-site, the halt of background checks for applicants, thus stopping the enrollment process, and now the pause of operations at all contractor-operated Job Corps centers scheduled to occur by June 30, 2025. This comes after the Department’s Employment and Training Administration (ETA) released the first-ever Job Corps Transparency Report. This report analyzed the financial performance and operational costs of the most recently available metrics of program year 2023. Coming to such a swift decision is both alarming and hasty. 

    Please answer the following questions by June 15, 2025:

    • The Job Corps Transparency Report claims there are less than 25,000 students participating in Job Corps nationally. What data was used to determine this number? 
    • How many students receive housing through this initiative? 
    • The report claims that the graduation rate is less than 38.6 percent. Why was the analysis not performed on a date range larger than July 1, 2023 – June 30, 2024? 
    • How are the impacts of COVID-19 taken into consideration? 
    • The analysis weighs incident occurrences against outcomes. What criteria are used to determine what an “incident” is? 
    • The report claims that the initiative is no longer meeting set outcomes. How have graduates’ wages compared to wage goals set by DOL for the last 10 years? 
    • Are there efficient structural changes that can be made prior to stopping operations? 

    The report suggests the initiative has become expensive, yet Job Corps has not received a funding increase in 8 years. This move will upend more than 60 years of progress, leaving current and future at-risk young people with one less pipeline to personal and professional development. Halting Job Corps contracts will deepen inequality and rob young people in need of critical tools to thrive. DOL should be investing in our communities and resources with effective tools like Job Corps to break the cycle of poverty and help young people succeed. I trust that we share the same goal of serving all Americans and bolstering our workforce. I respectfully urge you to delay the pause in operations, review this Transparency Report and include a longer dataset for analysis, and take actions to ensure the success of Job Corps.

    MIL OSI USA News –

    June 3, 2025
  • MIL-OSI: Nimanode Positions To Become The OpenSea of AI Agents On XRP Blockchain – Presale Momentum Accelerates

    Source: GlobeNewswire (MIL-OSI)

    LEEDS, United Kingdom, June 02, 2025 (GLOBE NEWSWIRE) — Excitement is building across the XRP community as Nimanode ($NMA), the first AI agent platform on the XRP Ledger, positions itself as the premier destination for intelligent automation within the Ripple ecosystem.

    Amid growing bullish sentiment around XRP — driven by XRP Futures trading going live seasoned investors from major ecosystems like Cardano ($ADA) and Solana ($SOL), are turning their attention to the Nimanode Presale, eager to secure early exposure to what many see as a foundational layer for on-chain AI infrastructure.

    Pioneering AI Agents on XRP

    Nimanode is strategically emerging as the leading marketplace and launch platform for autonomous AI agents on the XRP Ledger. Just as OpenSea redefined digital ownership through NFTs, Nimanode is redefining utility through AI agents that work, evolve, and earn on-chain.

    Designed specifically to offer a no-code gateway to intelligent, on-chain automation at scale. Nimanode offers services from solo builders to enterprises — to deploy intelligent agents that automate smart contracts, optimize DeFi strategies, assess protocol risk, and manage tokenized real-world assets (RWAs).

    This transformative model brings a new dimension to DeFi and AI adoption in the XRP ecosystem, by combining modular AI technology with XRPL’s unmatched speed and low transaction costs, opening up a new era of AI x Blockchain, with real monetization potential built into every deployment.

    Join Nimanode Presale

    Why Investors are Flocking to The Nimanode Presale

    The presale surge has captured the attention of prominent crypto investors including notable whales from the BNB, ADA and SOL communities. All looking to position themselves early in what many believe could be the next DeFi breakout project.

    From the desk of the development team at Nimanode, they are set to deliver an Agentic workforce handling various tasks autonomously. Features of these ecosystem include but not limited to

    Zero-Code Agent Builder – Easily create and configure AI agents through a drag-and-drop interface

    Autonomous Execution – Agents perform on-chain tasks, react to data feeds, and interact across dApps

    Agent Marketplace – Build, deploy and monetize AI agents within a Nimanode ecosystem

    XRPL Integration – High-speed, low-cost, and eco-friendly infrastructure to power scalable agent activity

    $NMA Token – Powering the Nimanode Ecosystem

    The native $NMA token is the backbone of the Nimanode platform, unlocking utility and benefits across their ecosystem through:

    • Agent Deployment: Lower fees for launching and customizing AI agents.
    • Staking Rewards: Earn passive income by staking $NMA tokens.
    • Marketplace Access: Use $NMA to buy, license, or upgrade agents.
    • Governance: Participate in DAO proposals and help shape platform evolution.

    At the end of the presale, $NMA will list on DEXs at a 25% higher price, offering early participants immediate upside on their investments.

    How to Join The Nimanode Presale

    Joining in the NimaNode Presale is quite straightforward for anyone seasoned investors and newbies alike.

    Setup an XRP-Compatible Wallet: Ensure you have a non-custodial wallet capable of receiving XRP native tokens like Xaman Wallet.

    Purchase XRP: Acquire XRP from reputable exchanges like Binance, Coinbase, or Bybit.

    Participate in the Presale: Visit the NimaNode presale page (https://nimanode.com/presale), send your XRP to the provided presale address, and secure your $NMA tokens.

    The last cycle gave us DeFi protocols and NFTs. This cycle is shaping up to be about autonomous infrastructure and Nimanode is at the heart of it.

    Don’t Miss Out – Secure your $NMA Tokens

    Learn more about Nimanode

    Website: https://nimanode.com

    Twitter/X: https://x.com/nimanodeai

    Telegram: https://t.me/nimanodeAI

    Whitepaper: https://docs.nimanode.com

    Contact:
    Nick Lambert
    contact@nimanode.com

    Disclaimer: This is a paid post and is provided by Nimanode. 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.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/675f22df-2345-47a3-9ac2-1187fab5183a

    The MIL Network –

    June 3, 2025
  • MIL-OSI USA: OPINION: Relief, Retention, and Responsibility—Why This Special Session Matters

    Source: US State of Missouri

    JUNE 2, 2025

    By Governor Mike Kehoe

    This special session is about showing up for our communities—from the families across our state picking up the pieces after devastating storms, to the employees and small businesses whose livelihoods depend on the jobs and economic activity provided by the sports franchise businesses on the western side of our state. It’s about proving that we can act swiftly to help those in crisis, while also making smart decisions that secure opportunity for the future.

    The General Assembly achieved so much for our state this spring, so I am both thankful for their efforts and optimistic that we can work together to use this rare opportunity to benefit the future of our state. Because helping Missourians today—and building the kind of future they deserve tomorrow—isn’t just possible; it’s the kind of leadership Missourians expect from us.

    Disaster Relief

    Every storm reveals what matters most and who we are here for. We’ve seen firsthand how Missourians weather hardships and show up for their neighbors with courage and compassion. Now, it’s our turn to meet that same standard. We have the chance to pull together – not as rivals, but as public servants united by purpose.

    In this special session, we are asking legislators to take direct action to provide financial relief and housing assistance to those affected by natural disasters across our state. One key provision is a new income tax deduction—capped at $5,000 per household per disaster—for insurance deductibles paid by homeowners and renters in disaster-affected areas.

    We’re also strengthening support for those in need by expanding eligibility for emergency grants and rental assistance through the Missouri Housing Development Commission (MHDC). If passed by the General Assembly, the income eligibility threshold for these grants would be expanded from 50% to 75% of the regional Area Median Income. MHDC would also receive an additional $25 million appropriation to support the expanded disaster relief grands.

    Business Retention

    Sports teams have tremendous value beyond any financial measure. Our efforts are about retaining jobs, protecting local businesses, and preserving major economic drivers that benefit not just Kansas City, but the entire state.

    The Show Me Sports Investment Act is a step in the right direction for economic stability and job retention through tax credits and bonds that are performance-based and capped to keep the Kansas City Chiefs and Royals right here in Missouri where they belong.

    Let me be clear: We are not handing out blank checks to billionaires.

    The legislation allows teams to independently bond money from the state based on the taxes they already contribute. Only money generated by the sports teams can be used to repay the bond and any new or existing revenue above the bond payment will go to the state as it currently stands. Finally, this legislation gives each team a one-time $50 million tax credit if they first spend $500 million of their own dollars on renovating their stadium.

    If we fail to act, Missouri stands to lose thousands of jobs and millions in annual revenue. This isn’t a giveaway—it’s a strategy to ensure Missouri remains competitive with other states that would gladly take this opportunity for themselves.

    Budgetary Responsibility

    This special session call also contains critical appropriations that didn’t make it across the finish line in the regular session, including $25 million in General Revenue funds for the Radioisotope Science Center at the University of Missouri Research Reactor (MURR). The MURR has developed life-saving medicines for patients around the world, and Missouri is proud to be home to this incredible nuclear resource.

    We are also asking the General Assembly to appropriate funding from funds other than the General Revenue for various projects such as a new 200-bed mental health hospital in Kansas City, a new crime lab in Highway Patrol Troop E, new livestock and stalling barns at the Missouri State Fairgrounds, and various projects at parks and Missouri National Guard facilities across the state.

    We are not asking the General Assembly to forgive and forget the actions taken by members of an opposing party or chamber. Instead, we are asking them to set those feelings aside to get to work on issues that matter to the people we serve.

    We understand that tension doesn’t vanish with the gavels that close one session and open another. It lingers – in priorities left unresolved and personal strains that follow difficult debates. As a former legislator, I know it can be tough to move on from these moments. The echoes of disagreements still ripple beneath the surface. But we must turn the page.

    A special session is not just a procedural tool – it’s an invitation to rise above all the noise. It’s a chance to demonstrate that principled public servants can come together with resolve to do what’s right. Leadership isn’t proven by how loudly we defend our corners, but by how we willingly find solutions that work. Missourians are watching, and they’re ready for us to meet the moment.

    This special session isn’t just another item on the legislative calendar to check off – it’s a moment Missouri simply cannot afford to coast through. There are families still waiting for relief, jobs hanging in the balance, and communities counting on us to make wise, forward-thinking investments that won’t just fix short-term, hot-button problems – but shape a stronger future.

    It’s time to rise above the noise and govern with the people in mind. Because Missourians didn’t send us here to work for ourselves. We’re here to serve them.

    MIL OSI USA News –

    June 3, 2025
  • MIL-OSI USA: North Dakota Department of Commerce Announces $15 Million Destination Development Grant to Boost Tourism and Economic Growth

    Source: US State of North Dakota

    The North Dakota Department of Commerce is excited to announce the launch of the 2025 Destination Development Grant Program, a $15 million initiative aimed at enhancing the state’s tourism industry. This program, funded by the 69th Legislative Assembly, is designed to support the development and expansion of tourism experiences and attractions that contribute to North Dakota’s economic growth and diversification.

    “Tourism plays an essential role in North Dakota, contributing to a strong economy, by attracting visitors who spend money and pay taxes,” said Gov. Kelly Armstrong. “This grant program will support projects that offer legendary experiences that make our state a unique destination.”

    The Destination Development Grant Program provides financial support for projects that increase the number of unique visitor experiences, support workforce recruitment and retention, and enhance the quality of life for North Dakota residents. Eligible projects include the construction or expansion of tourism, recreation, entertainment, historic, or cultural attractions, as well as infrastructure investments that directly support tourism.

    “By creating more experiences that attract visitors and expanding the potential for extended stays, we are also enhancing the quality of life for our residents,” said Commerce Tourism and Marketing Director Sara Otte Coleman. “This grant program is a fantastic opportunity for communities and businesses across North Dakota to develop and expand their tourism offerings, ultimately driving economic growth and diversification.”

    Grant requests should range between $25,000 and $5,000,000, with a required 1:1 match contribution from non-state sources. Eligible entities include for-profit and non-profit organizations or businesses involved in tourism. Private and non-profit tourism entities using government buildings or public property are also eligible if the grant dollars are used to improve items belonging to the business or non-profit.

    The grant portal will be open from July 1 through July 31, 2025. Applicants must submit all materials online, including a detailed project description, budget, and letters of support. Competitive applications will demonstrate a clear vision, strategic alignment with tourism goals, and long-term value.

    Information on the Destination Development Grant will be available at https://ndgov.link/DestinationDevelopment.

    MIL OSI USA News –

    June 3, 2025
  • MIL-OSI Security: Two Charged in $227 Milion Medicare Fraud Scheme

    Source: US FBI

    An Illinois man and a foreign national were arrested yesterday on criminal charges related to their alleged submission of more than $227 million in fraudulent claims to Medicare.

    According to court documents, Syed Murtuza Kablazada, 34, of Arlington Heights, and Syed Mehdi Hussain, 32, of Carol Stream, owned and operated purported medical laboratories that submitted fraudulent claims to Medicare for the reimbursement of over-the-counter COVID-19 test kits allegedly provided to Medicare beneficiaries. The defendants allegedly installed foreign nationals to act as nominee owners at the laboratories to submit fraudulent claims to Medicare for the provision of over-the-counter COVID-19 test kits, with the understanding the nominee owners would flee the United States when they learned that their laboratory was under investigation.

    “As alleged, the defendants used straw owners at multiple laboratories to cause the submission of more than $200 million in fraudulent claims to Medicare for COVID-19 test kits,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “Health care fraud harms Americans by squandering taxpayer money and diverting limited resources from those who need them most. The Criminal Division will continue to aggressively prosecute these crimes to hold fraudsters accountable, protect victims, and recover financial losses.”

    “The overwhelming fraud uncovered in this investigation details a blatant disregard for America’s critical health care program, Medicare, and puts all patients at risk,” said Special Agent in Charge Douglas S. DePodesta of the FBI Chicago Field Office. “The FBI and our partners will not tolerate anyone who abuses the health care system for personal gain and will aggressively pursue justice on behalf of both patients and taxpayers.”

    “The submission of fraudulent claims to Medicare for products or services not dispensed or not medically necessary undermines the integrity of this valuable program, intended to protect the most vulnerable in our community,” said Deputy Inspector General for Investigations Christian J. Schrank of the U.S. Department of Health and Human Services Office of Inspector General (HHS-OIG). “Today’s arrests demonstrate our unwavering commitment, working in conjunction with our law enforcement partners, to identify, investigate and bring to justice those who seek to defraud our nation’s federal healthcare programs.” 

    As alleged in the indictment, the defendants rarely provided Covid-19 test kits to Medicare beneficiaries but instead submitted reimbursement claims on behalf of beneficiaries who had not requested COVID-19 test kits, including individuals who were deceased. Further, the defendants allegedly paid a marketing company to provide the names of hundreds of thousands of Medicare beneficiaries that the defendants used to submit fraudulent claims. In total, between September 2022 and June 2023, the defendants’ labs billed Medicare approximately $227 million in fraudulent claims, of which Medicare paid approximately $136 million in reimbursements.

    Kablazada and Hussain are both charged by indictment with four counts of health care fraud. If convicted, they face a maximum penalty of 10 years in prison on each of the four counts.

    The FBI Chicago Field Office and HHS-OIG are investigating the case.

    Trial Attorney Andres Q. Almendarez of the Criminal Division’s Fraud Section is prosecuting the case, with assistance from Assistant U.S. Attorney Jasmina Vajzovic for the Northern District of Illinois.

    The Fraud Section leads the Criminal Division’s efforts to combat health care fraud through the Health Care Fraud Strike Force Program. Since March 2007, this program, currently comprised of 9 strike forces operating in 27 federal districts, has charged more than 5,800 defendants who collectively have billed federal health care programs and private insurers more than $30 billion. In addition, the Centers for Medicare & Medicaid Services, working in conjunction with the Office of the Inspector General for the Department of Health and Human Services, are taking steps to hold providers accountable for their involvement in health care fraud schemes. More information can be found at www.justice.gov/criminal-fraud/health-care-fraud-unit.

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

    MIL Security OSI –

    June 3, 2025
  • MIL-OSI Security: Kansas City Man Charged with Bank Robbery

    Source: US FBI

    KANSAS CITY, Mo. – Christopher L. Curtner, 41, was charged with bank robbery in a federal criminal complaint filed in the U.S. District Court in Kansas City, Mo. on Wednesday, May 28, 2025.

    The complaint affidavit alleges Curtner robbed a financial institution on the morning of May 27, 2025.  After speaking briefly with the bank teller, Curtner wrote a note saying: “give me the money this is a robbery.”  The teller activated the bank’s duress code and provided Curtner with approximately $1,400 in cash, after which he fled the scene.

    A Federal Bureau of Investigation (FBI) task force positively identified Curtner as the bank robber.  Kansas City, Missouri Police Department (KCPD) officers located Curtner, who was on foot in the Kansas City metro area. The KCPD fugitive unit began physical surveillance on Curtner and took him into custody as he entered a second financial institution.

    Under federal statutes, bank robbery carries a maximum sentence of 20 years imprisonment in federal prison without parole.  The maximum statutory sentence is prescribed by Congress and is provided here for informational purposes, as the sentencing of the defendant will be determined by the court based on the advisory sentencing guidelines and other statutory factors. A sentencing hearing will be scheduled after the completion of a presentence investigation by the United States Probation Office.

    The charges contained in this complaint are simply accusations and not evidence of guilt. Evidence supporting the charges must be presented to a federal trial jury, whose duty is to determine guilt or innocence.

    This case is being prosecuted by Assistant U.S. Attorney Heather Siegele. It was investigated by the FBI Violent Crimes Task Force, Kansas City Division and the Kansas City Missouri Police Department.

    MIL Security OSI –

    June 3, 2025
  • MIL-OSI USA: Over 175 Students, Dozens of Staff at Exeter Job Corps in Limbo After Trump Halts Job Corps Operations

    US Senate News:

    Source: United States Senator for Rhode Island Jack Reed

    EXETER, RI — Once again, President Donald Trump is trying to eliminate the federal Job Corps program, which offers free vocational and career-training for underserved youth to help produce skilled workers.  Job Corps serves low-income youth between the ages of 16 and 24 who face barriers to education and employment.

    A week after U.S. Senator Jack Reed (D-RI) called out the Trump Administration for effectively ‘pausing’ Job Corps enrollment by preventing new students from getting background checks, the Trump Administration formally announced a “phased pause in operations” for all Job Corps centers nationwide, including the center in Exeter. 

    Senator Reed, a member of the Appropriations Committee, denounced Trump’s Job Corps suspension as counterproductive and pledged to work on a bipartisan basis to reopen, improve, and continue to fund the centers, which teach eligible youth the skills they need to become employable and independent.

    Reed stated: “Job Corps helps expand economic opportunity and prepare young people for good-paying jobs in in-demand fields.  It literally helps people turn their lives around and we shouldn’t turn our back on this program, we should strengthen it to improve outcomes for more young people.  The Exeter Job Corps Center is a high performing center that helps produce skilled workers in some of the trades we need most, like submarine manufacturing.  I strongly oppose President Trump’s attempt to dismantle vital resources for young people seeking education and opportunity and I will work to prevent the elimination of Job Corps.”

    “The Trump Administration’s Job Corps pause is putting the economic futures of young people across the country on hold.  Students trying to enroll are stuck in limbo.  Job Corps offers young people a second chance to complete their high school education, receive technical training, and prepare for a career.  The Trump Administration is attempting to take that away, but we will work hard to reverse it, because it would be a real blow to these young people and our regional economy,” Reed continued.

    At a May 22 hearing of the Appropriations Subcommittee on Labor, Health and Human Services, Education, and Related Agencies (Labor-H), Senator Reed questioned U.S. Labor Secretary Chavez-DeRemer about the Trump Administrations efforts to terminate Job Corps.

    During the hearing, Reed noted: “And it’s not only critical to these young men and women to develop their talents and be productive members of our society, but also it’s a key aspect of our submarine production with their relationships to electric boat at Quonset Point Rhode Island. If we don’t have these trained and skilled workers, we will fall behind further and further in terms of submarine production, which will be a detrimental — is an understatement to our national security.”

    Earlier this week, Reed joined Appropriations Committee Chair Susan Collins (R-ME) in sending a letter to U.S. Labor Secretary Chavez-DeRemer requesting detailed information on Job Corps — including contracts, background check processing, and evaluation plans.  The bipartisan letter noted: “We would be pleased to work with you to improve Job Corps and make needed changes to the program, such as some of those that were included in the bipartisan bill to reauthorize the Workforce Innovation and Opportunity Act, but we expect you to faithfully implement the program with the resources we have appropriated.”

    Since 1964, Job Corps has served more than three million low-income youth and young adults in all parts of the country.

    This is not the first time President Trump has tried to terminate Job Corps. In 2019, during Trump’s first term, his Administration announced it would be closing Job Corp centers. But thanks to public outcry and bipartisan efforts from Reed, Collins, and other members of Congress, the federal government reversed those decisions.

    Exeter Job Corps Center, which opened in 2004, provides free job training in a variety of fields, including: computers, culinary arts, construction, hospitality, health fields, manufacturing, and other career paths, as well as transportation and dormitory-style housing for those who need it. The programs are aligned with industry credentials and include work-based learning.

    Enrollment at Exeter Job Corps Center, located at the site of the former Ladd Center off Route 2 in Exeter, with a capacity for 185 students, with rolling admissions throughout the year.  Exeter Job Corps Center employs a staff of about 85 and offers vocational training in 6 trades, a GED program, and two high school diploma programs. Most participants are from Rhode Island or neighboring states.

    MIL OSI USA News –

    June 3, 2025
  • MIL-OSI USA: June 2nd, 2025 Heinrich, Luján Urge FEMA to Implement Reforms to Better Address Disasters in New Mexico, Western States

    US Senate News:

    Source: United States Senator for New Mexico Martin Heinrich

    “FEMA was originally structured to respond to large-scale hurricanes and disasters on the East Coast, and its current – and outdated – model reflects that legacy.”

    Washington, D.C. – U.S. Senators Ben Ray Luján (D-N.M.) and Martin Heinrich (D-N.M.) urged the Federal Emergency Management Agency (FEMA) to implement practical reforms to better address the unique and growing disaster risks faced by Western U.S. communities, particularly in the aftermath of catastrophic wildfires.

    The letter requests FEMA modernize its outdated response model, improve infrastructure reimbursement policies to facilitate smarter rebuilding, and expand individual and community assistance to reflect actual recovery costs. The letter also calls for FEMA to address gaps in support for high-risk areas where insurance is no longer accessible.

    “Western states face a distinct and growing threat: namely, catastrophic wildfires followed by cascading disasters such as landslides, flooding, and water system failures that compound damage and slow recovery. These cascading events – which can happen years after an initial fire – are devastating, and FEMA has repeatedly struggled to respond effectively,” the lawmakers wrote.

    “As New Mexicans learned in the wake of the Hermit’s Peak/Calf Canyon fire and Californians in the wake of the Palisades fire, and Hawaii residents after the Maui wind-driven fires, FEMA’s protocols and funding mechanisms aren’t built to address the rapid domino effect that occurs after major wildfires. Events that are interconnected are treated as isolated occurrences, leaving affected communities without the timely, comprehensive support they deserve,” the lawmakers continued.

    Heinrich, Luján, and the New Mexico Delegation have secured $5.45 billion for recovery efforts following the Hermit’s Peak/Calf Canyon Fire. The fire, which was started by the U.S. Forest Service, caused widespread damage and uprooted the lives of many New Mexicans.

    The full text of the letter can be found HERE and below:

    Dear Secretary Noem and Acting Administrator Richardson:

    Thank you for the opportunity to provide public comments on FEMA’s disaster response and recovery operations. We are writing to ask you to consider practical reforms to improve the organization and administration of the Federal Emergency Management Agency (FEMA). FEMA was originally structured to respond to large-scale hurricanes and disasters on the East Coast, and its current – and outdated – model reflects that legacy. Practical reforms are warranted to better serve communities in the Western United States.

    We want to emphasize that serious, targeted reform is the answer to these pressing problems – not dismantling FEMA altogether. The federal government has an important role to play in assisting state and local governments in the wake of natural disasters. Weakening or eliminating federal disaster assistance when state and local resources across the West are overwhelmed and depleted would be a dangerous step backwards. FEMA’s mission is simply too important to abandon.

    Western states face a distinct and growing threat: namely, catastrophic wildfires followed by cascading disasters such as landslides, flooding, and water system failures that compound damage and slow recovery. These cascading events – which can happen years after an initial fire – are devastating, and FEMA has repeatedly struggled to respond effectively. As New Mexicans learned in the wake of the Hermit’s Peak/Calf Canyon fire and Californians in the wake of the Palisades fire, and Hawaii residents after the Maui wind-driven fires, FEMA’s protocols and funding mechanisms aren’t built to address the rapid domino effect that occurs after major wildfires. Events that are interconnected are treated as isolated occurrences, leaving affected communities without the timely, comprehensive support they deserve.

    FEMA’s reimbursement formulas and policies currently require that public infrastructure be rebuilt to its pre-disaster condition in order to qualify for full reimbursement. While we understand the intent behind these rules—to restore essential infrastructure equitably—they do not adequately address the unique and escalating risks associated with post-wildfire environments, especially with regard to flood-related infrastructure such as culverts, bridges, and drainage systems.

    After a wildfire, watersheds are severely destabilized. Vegetation loss, soil degradation, and hydrophobic soils result in dramatically altered runoff patterns, increasing both the speed and volume of post-fire flooding. The City of Las Vegas, New Mexico lived this harsh reality during the Fiestas last year, when floods paralyzed the city over a year after the Hermit’s Peak/Calf Canyon fire. As a result of these floods, the business community lost out on their largest income-generating event of the year. These harsh post-fire flooding conditions mean that infrastructure like culverts, which may have been appropriately sized before a fire, are no longer adequate or safe in the changed landscape. Rebuilding these structures “as they were” effectively ensures that they will be overwhelmed during the next major rain event. FEMA’s reimbursement formula should be revised to allow and encourage local governments and agencies to rebuild smarter and stronger, particularly in high-risk post-wildfire areas. If infrastructure is likely to fail under new, foreseeable conditions like post-wildfire floods, federal policy should not prohibit communities from adapting their designs accordingly.

    In addition, individual assistance offered by FEMA is insufficient to help families and small businesses get back on their feet. Many disaster survivors are shocked to learn that reimbursements for personal property loss, home repairs, or temporary housing fall far short of the actual costs. This disparity leaves middle- and low-income families and businesses facing a steep financial cliff, even after receiving federal aid. While Congress has stepped in to fully reimburse New Mexico families for losses from the Hermit’s Peak/Calf Canyon fire after the Federal government started the largest fire in the state’s history, comprehensive financial reimbursement is not the norm. In Maui, recovery is estimated to exceed $12 billion, a total of four times what the federal government is anticipated to contribute. The property and economic damage in California is as high as $275 billion. We need to revisit how individual assistance is calculated and ensure it reflects real-world rebuilding and living expenses.

    Last but not least, a growing number of Western disaster survivors lack insurance altogether. In high-risk areas like wildfire zones, insurance has become prohibitively expensive—or unavailable entirely. This leaves many households completely dependent on FEMA for recovery support. Yet FEMA’s systems and standards often assume a baseline level of private insurance coverage that no longer exists for a significant portion of affected residents. FEMA must adapt its policies and funding levels and work with other Federal agencies to meet the needs of those who fall into this widening gap and ensure that recovery is possible for those who, through no fault of their own, can’t obtain insurance.

    Thank you again for the opportunity to contribute to this critical dialogue. We hope FEMA will take this input seriously and act swiftly to adapt to the changing landscape of disaster response.

    Sincerely,

    MIL OSI USA News –

    June 3, 2025
  • MIL-OSI USA: Tillis, Colleagues Introduce Bipartisan Legislation to Modernize Investor Disclosure

    US Senate News:

    Source: United States Senator for North Carolina Thom Tillis

    WASHINGTON, D.C. – Senators Thom Tillis (R-NC), John Hickenlooper (D-CO), Mike Rounds (R-SD), Jeanne Shaheen (D-NH), Ted Budd (R-NC), Gary Peters (D-MI) and Katie Britt (R-AL) recently introduced the Improving Disclosure for Investors Act of 2025, bipartisan legislation requiring the Securities and Exchange Commission (SEC) to propose rules allowing for the default electronic delivery of regulatory documents to investors. 

    “U.S capital markets have embraced the digital age and rely on far less paper now than they did 25 years ago, and it is past time that we bring disclosure requirements into the 21st century,” said Senator Tillis. “Nearly 80% of surveyed Americans already utilize electronic delivery and this commonsense legislation will heighten efficiency and cut down on unwanted paper while still preserving investors’ ability to receive printed hard copies if they wish.”  

    “Today’s economy runs in the digital age, and we need to catch up,” said Senator Hickenlooper. “Cutting red tape is as simple as going paperless.” 

    “As business and industry modernize, the SEC must allow financial firms to do the same,” said Senator Budd. “Making E-Delivery the default for firms and their clients will enhance security and cut unnecessary red tape. I am proud to work alongside Senator Tillis and my colleagues to ensure investors can efficiently access to their information without experiencing delays caused by outdated paper systems.”

    “As our capital markets have evolved and digitized, investor communications must adapt,” said Senator Britt. “This commonsense legislation would allow for more efficient and convenient access to financial information for investors who already overwhelmingly choose electronic delivery to receive these disclosure documents. This legislation saves time and resources and reduces unnecessary costs for both financial firms and consumers.”

    “The time is overdue to make electronic delivery the default means for delivering investor communications, while giving investors the power to choose paper delivery if preferred. Survey results show that a large majority of retail investors, regardless of income or age, want e-delivery for its environmental benefits, speed, and convenience. SIFMA commends Senators John Hickenlooper (D-CO), Thom Tillis (R-NC), Mike Rounds (R-SD), Jeanne Shaheen (D-NH), Ted Budd (R-NC), Gary Peters (D-MI), and Katie Britt (R-AL) for introducing The Improving Disclosure for Investors Act. This important bipartisan legislation is the natural next step in modernizing the SEC’s framework in light of changing investor preferences and technology.”- Securities Industry and Financial Markets Association (SIFMA)

    “The bipartisan Improving Disclosure for Investors Act will allow millions of investors to receive information electronically, the overwhelming preference for most Americans,” said ICI CEO and President Eric J. Pan. “This is a big step forward in modernizing information delivery, while allowing those that prefer to receive paper statements to continue to do so. ICI applauds Senators Hickenlooper, Tillis, Shaheen, Rounds, Peters, Budd, and Britt for furthering this important legislation in the interest of investors. Their leadership in enhancing the retail investment experience will make US capital markets even stronger. We urge the swift passage of this legislation.”

    “Fidelity Investments applauds Senators Thom Tillis and John Hickenlooper for the bipartisan re-introduction of the Improving Disclosure for Investors Act, which directs the SEC to make electronic delivery (eDelivery) the primary way to receive disclosures, with significant investor protections in the transition. eDelivery has been shown to be a more secure, effective, and timely way to receive critical investment information. We look forward to continuing to work with Congress and the SEC to advance this commonsense reform.” – Fidelity Investments 

    “Charles Schwab commends Senators Tillis and Hickenlooper for their efforts in crafting this legislation, which would require the SEC to promulgate rules to default to the e-delivery of regulatory documents required under the securities laws, while still allowing those who prefer to receive documents in paper form. Default e-delivery is long-overdue, as a large majority of investors prefer the speed and convenience of receiving documents electronically. E-delivery allows Schwab to deliver our products at lower cost, avoids waste, and is environmentally friendly. Schwab looks forward to working with these Senators and their colleagues to move this important legislation forward.” – Charles Schwab 

    “LPL Financial supports the Improving Disclosure for Investors Act of 2025, introduced by Senators Tillis, Hickenlooper, Rounds, Shaheen, Budd, Peters, Britt. The benefits of e-delivery have been well documented. Disclosures can be available on demand, interactive, and easier to navigate. Reducing paper helps the environment. The visually impaired and savers whose first language is not English can benefit from features of digital communications, including translation options. And for those who want paper delivery, the ability to receive one at any point assures continued access. We applaud the Senators for introducing this bill and look forward to working with lawmakers to enact this bipartisan legislation.” – LPL Financial

    “Environmental Paper Network commends this bipartisan effort to reduce waste and improve efficiency while preserving consumer choice. Mandated paper delivery of investor documents results in over 830 million printed pages each year, consuming 101,000 trees and producing emissions equal to nearly 7,000 cars. The Improving Disclosure for Investors Act updates outdated rules by making electronic delivery the default. Most investors prefer faster, more convenient digital access. This common-sense shift will cut costs and environmental harm while still allowing anyone to opt for paper.” – Environmental Paper Network 

    Background: 

    The SEC currently permits electronic delivery of certain documents, subject to requirements that a registrant provides notice that the information is available electronically, the investor has adequate access to such information, and the registrant either obtains evidence to show actual delivery or obtains informed consent from the investor (“opt-in” requirement). The SEC has not comprehensively updated this framework in over 20 years. This legislation requires the SEC establish a means for investment disclosure documents to be delivered electronically by default, while still providing a clear pathway for investors to opt out of electronic delivery and revert to paper documents at any time.  

    Full text of the bill is available HERE.

     

    MIL OSI USA News –

    June 3, 2025
  • MIL-OSI USA: Luján, Heinrich Urge FEMA to Implement Reforms to Better Address Disasters in New Mexico, Western States

    US Senate News:

    Source: United States Senator Ben Ray Luján (D-New Mexico)

    “FEMA was originally structured to respond to large-scale hurricanes and disasters on the East Coast, and its current – and outdated – model reflects that legacy.”

    Washington, D.C. – U.S. Senators Ben Ray Luján (D-N.M.) and Martin Heinrich (D-N.M.) urged the Federal Emergency Management Agency (FEMA) to implement practical reforms to better address the unique and growing disaster risks faced by Western U.S. communities, particularly in the aftermath of catastrophic wildfires.

    The letter requests FEMA modernize its outdated response model, improve infrastructure reimbursement policies to facilitate smarter rebuilding, and expand individual and community assistance to reflect actual recovery costs. The letter also calls for FEMA to address gaps in support for high-risk areas where insurance is no longer accessible.

    “Western states face a distinct and growing threat: namely, catastrophic wildfires followed by cascading disasters such as landslides, flooding, and water system failures that compound damage and slow recovery. These cascading events – which can happen years after an initial fire – are devastating, and FEMA has repeatedly struggled to respond effectively,” the lawmakers wrote.

    “As New Mexicans learned in the wake of the Hermit’s Peak/Calf Canyon fire and Californians in the wake of the Palisades fire, and Hawaii residents after the Maui wind-driven fires, FEMA’s protocols and funding mechanisms aren’t built to address the rapid domino effect that occurs after major wildfires. Events that are interconnected are treated as isolated occurrences, leaving affected communities without the timely, comprehensive support they deserve,” the lawmakers continued.

    Senators Luján and Heinrich and the New Mexico Delegation have secured $5.45 billion for recovery efforts following the Hermit’s Peak/Calf Canyon Fire. The fire, which was started by the U.S. Forest Service, caused widespread damage and uprooted the lives of many New Mexicans.

    The full text of the letter can be found HERE and below:

    Dear Secretary Noem and Acting Administrator Richardson:

    Thank you for the opportunity to provide public comments on FEMA’s disaster response and recovery operations. We are writing to ask you to consider practical reforms to improve the organization and administration of the Federal Emergency Management Agency (FEMA). FEMA was originally structured to respond to large-scale hurricanes and disasters on the East Coast, and its current – and outdated – model reflects that legacy. Practical reforms are warranted to better serve communities in the Western United States.

    We want to emphasize that serious, targeted reform is the answer to these pressing problems – not dismantling FEMA altogether. The federal government has an important role to play in assisting state and local governments in the wake of natural disasters. Weakening or eliminating federal disaster assistance when state and local resources across the West are overwhelmed and depleted would be a dangerous step backwards. FEMA’s mission is simply too important to abandon.

    Western states face a distinct and growing threat: namely, catastrophic wildfires followed by cascading disasters such as landslides, flooding, and water system failures that compound damage and slow recovery. These cascading events – which can happen years after an initial fire – are devastating, and FEMA has repeatedly struggled to respond effectively. As New Mexicans learned in the wake of the Hermit’s Peak/Calf Canyon fire and Californians in the wake of the Palisades fire, and Hawaii residents after the Maui wind-driven fires, FEMA’s protocols and funding mechanisms aren’t built to address the rapid domino effect that occurs after major wildfires. Events that are interconnected are treated as isolated occurrences, leaving affected communities without the timely, comprehensive support they deserve.

    FEMA’s reimbursement formulas and policies currently require that public infrastructure be rebuilt to its pre-disaster condition in order to qualify for full reimbursement. While we understand the intent behind these rules—to restore essential infrastructure equitably—they do not adequately address the unique and escalating risks associated with post-wildfire environments, especially with regard to flood-related infrastructure such as culverts, bridges, and drainage systems.

    After a wildfire, watersheds are severely destabilized. Vegetation loss, soil degradation, and hydrophobic soils result in dramatically altered runoff patterns, increasing both the speed and volume of post-fire flooding. The City of Las Vegas, New Mexico lived this harsh reality during the Fiestas last year, when floods paralyzed the city over a year after the Hermit’s Peak/Calf Canyon fire. As a result of these floods, the business community lost out on their largest income-generating event of the year. These harsh post-fire flooding conditions mean that infrastructure like culverts, which may have been appropriately sized before a fire, are no longer adequate or safe in the changed landscape. Rebuilding these structures “as they were” effectively ensures that they will be overwhelmed during the next major rain event. FEMA’s reimbursement formula should be revised to allow and encourage local governments and agencies to rebuild smarter and stronger, particularly in high-risk post-wildfire areas. If infrastructure is likely to fail under new, foreseeable conditions like post-wildfire floods, federal policy should not prohibit communities from adapting their designs accordingly.

    In addition, individual assistance offered by FEMA is insufficient to help families and small businesses get back on their feet. Many disaster survivors are shocked to learn that reimbursements for personal property loss, home repairs, or temporary housing fall far short of the actual costs. This disparity leaves middle- and low-income families and businesses facing a steep financial cliff, even after receiving federal aid. While Congress has stepped in to fully reimburse New Mexico families for losses from the Hermit’s Peak/Calf Canyon fire after the Federal government started the largest fire in the state’s history, comprehensive financial reimbursement is not the norm. In Maui, recovery is estimated to exceed $12 billion, a total of four times what the federal government is anticipated to contribute. The property and economic damage in California is as high as $275 billion. We need to revisit how individual assistance is calculated and ensure it reflects real-world rebuilding and living expenses.

    Last but not least, a growing number of Western disaster survivors lack insurance altogether. In high-risk areas like wildfire zones, insurance has become prohibitively expensive—or unavailable entirely. This leaves many households completely dependent on FEMA for recovery support. Yet FEMA’s systems and standards often assume a baseline level of private insurance coverage that no longer exists for a significant portion of affected residents. FEMA must adapt its policies and funding levels and work with other Federal agencies to meet the needs of those who fall into this widening gap and ensure that recovery is possible for those who, through no fault of their own, can’t obtain insurance.

    Thank you again for the opportunity to contribute to this critical dialogue. We hope FEMA will take this input seriously and act swiftly to adapt to the changing landscape of disaster response.

    Sincerely,

    MIL OSI USA News –

    June 3, 2025
  • MIL-OSI USA: Luján, Boozman Propose Tax Credit to Assist Blind Americans with Obtaining Access Technology

    US Senate News:

    Source: United States Senator Ben Ray Luján (D-New Mexico)

    Washington, D.C. – U.S. Senators Ben Ray Luján (D-N.M.) and John Boozman (R-Ark.) introduced the bipartisan Access Technology Affordability Act to create a refundable tax credit to help blind Americans afford the technology and tools that can enhance their ability to perform daily, necessary functions.

    According to the American Community Survey, 64 percent of blind Americans in 2022 were unemployed or underemployed, in part due to the expenses surrounding access technology that are often not covered by medical insurance. The Access Technology Affordability Act would create a tax credit to offset the cost of “qualified access technology,” which includes hardware, software and other information technology with the primary function of adapting information represented in visual formats unusable by blind Americans.

    “Obtaining necessary technology is a life-changing opportunity for blind and visually impaired Americans – but high costs often stand in the way,” said Luján. “I’m proud to introduce bipartisan legislation to make this essential technology more affordable and accessible. By removing financial barriers, we can ensure more Americans have a fair shot at education, employment, and staying connected.”

    “As an optometrist, I know first hand how vital these tools are to the blind and visually impaired community – especially in an increasingly technical world,” said Boozman. “Providing financial support that helps put access technologies in their hands is a strong step forward in ensuring blind Americans can utilize them to not only secure gainful employment, but also live fulfilling, active lives.”

    The Access Technology Affordability Act has been endorsed by the National Federation of the Blind.

    “Blind Americans want to work among our non-blind peers. The Access Technology Affordability Act will provide more people access to the technology needed to compete equally in the workforce and it will shrink the staggeringly high ratio of the blind community who are not working or underemployed, which is currently 65 percent of our working-age population,” said President of the National Federation of the Blind Mark A. Riccobono.

    The bill text is available HERE.

    MIL OSI USA News –

    June 3, 2025
  • MIL-OSI Security: Father and Son Indicted for Providing Material Support to Mexican Cartel Engaged in Terrorism

    Source: US FBI

    Defendants are alleged to have illegally imported tens of millions of dollars in crude oil

    BROWNSVILLE, Texas – Two family members with ties to South Texas have been charged with allegedly conspiring to materially support a Mexican cartel previously designated as a foreign terrorist organization, conspiracy to commit money laundering and related smuggling charges, announced U.S. Attorney Nicholas J. Ganjei. 

    The superseding indictment, returned May 22, alleges Maxwell Sterling Jensen, 25, Draper, Utah, and James Lael Jensen, 68, Sandy, Utah, conspired to provide material support to the Cartel de Jalisco Nueva Generación (CJNG) in the form of U.S. currency. The Secretary of State designated CJNG as a foreign terrorist organization Feb. 20. 

    “This case underscores the more aggressive and innovative approach the Southern District of Texas is taking towards combatting the scourge of drug cartels,” said Ganjei. “This strategy focuses not just on the traffickers and trigger-pullers directly employed by the cartels, but also targeting their confederates and enablers. Whether you are handing the cartel a gun, providing a car or safehouse for smugglers, or putting money in the cartel’s pocket, you will be held to account.”

    The Jensens allegedly operated Arroyo Terminals, an enterprise based in Rio Hondo.

    Both are also charged with allegedly conspiring to conduct financial transactions to conceal and disguise the nature and source of the proceeds of illegally smuggled goods, crude oil. They also aided and abetted the fraudulent entry of approximately 2,881 shipments of the oil in violation of the Tariff Act, according to the charges.  

    “Cases like this highlight the often-dangerous relationships between alleged unscrupulous U.S. businesses and terrorist organizations,” said Special Agent in Charge Craig Larrabee of Immigration and Customs Enforcement’s Homeland Security Investigations (ICE-HSI) San Antonio. “Through strong collaborations and relentless investigative work, we and our partners exposed a possible large-scale operation that allegedly attempted to move millions in illicit crude oil and launder the proceeds. HSI remains committed to protecting our economy and holding offenders accountable.”

    “What began as a Drug Enforcement Administration (DEA) drug trafficking investigation evolved into a multifaceted case involving an alleged complex criminal operation generating millions of dollars from crude oil – the largest funding source for Mexican drug cartels,” said Acting Special Agent in Charge William Kimbell of DEA – Houston. “Given the charges have profound implications for both the United States and Mexico, we will continue to explore all leads and identify any believed to be involved. The collaboration with federal law enforcement, prosecutors, and state agencies proved critical to unraveling these alleged crimes and will continue until such operations are destroyed.”

    “It is a top priority of the FBI to eliminate foreign terrorist organizations by depriving them of the funding they need to operate and by seizing their most valued assets,” said FBI Special Agent in Charge Aaron Tapp of the San Antonio Field Office. “Together with our law enforcement partners, we will use every resource and capability at our disposal to ensure violent cartels and anyone who corruptly facilitates their operations are held accountable to the American people and unable to establish a foothold in our communities.”

    “Our commitment to taking down drug cartels and organized crime leverages IRS Criminal Investigation’s (CI) specialty in forensic accounting that identifies the alleged money trail and shuts down the flow of cash, just like we did in this case,” said acting Special Agent in Charge Lucy Tan, of IRS Criminal Investigation’s Houston Field Office. “Some of our best special agents are using their law enforcement expertise to build unshakeable cases to ensure criminals are taken off the streets and their ill-gotten gains are returned to the American people.”

    At the time of the initial arrests, authorities seized four tank barges containing crude oil, three commercial tanker trucks, an Arroyo Terminal pickup truck and one personal vehicle. The Arroyo Terminal property in Rio Hondo, crude oil contained Arroyo Terminal storage tanks and additional real properties are also sought for forfeiture. The superseding indictment also contains notice that the United States will seek a $300 million money judgment upon conviction. 

    The conspiracies to provide material support and to commit money laundering both carry a possible prison term of up to 20 years. If convicted of aiding and abetting the smuggling of goods into the United States and doing so by means of false statements, both men could also face up to 10 and five years, respectively. James Jensen also faces one count of money laundering spending which carries an additional 10 years in prison, upon conviction.  

    With the exception of the money laundering charge which has the possibility of up to a $500,000 fine or twice the value of the property involved, the remaining counts carry a maximum $250,000 potential fine. 

    The investigation was a joint effort among many law enforcement partners to include FBI, ICE-HSI and DEA with substantial assistance of IRS CI along with Customs and Border Protection, U.S. Marshals Service and Texas Department of Public Safety.

    Operation Liquid Death involved the combined efforts of DEA, FBI, ICE-HSI and IRS CI and others and is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood.

    Assistant U.S. Attorneys (AUSA) James Sturgis and Laura Garcia are prosecuting the case. AUSAs Mary Ellen Smyth and Tyler Foster are handling seizure and forfeiture matters.

    An indictment is a formal accusation of criminal conduct, not evidence. A defendant is presumed innocent unless convicted through due process of law. 

    MIL Security OSI –

    June 3, 2025
  • MIL-OSI: TC Energy provides conversion right and dividend rate notice for Series 3 and 4 preferred shares

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, June 02, 2025 (GLOBE NEWSWIRE) — News Release – TC Energy Corporation (TSX:TRP) (NYSE:TRP) (TC Energy) today announced that it does not intend to exercise its right to redeem its Cumulative Redeemable First Preferred Shares, Series 3 (Series 3 Shares) and Cumulative Redeemable First Preferred Shares, Series 4 (Series 4 Shares) on June 30, 2025. As a result, subject to certain conditions:

    (a) the holders of Series 3 Shares have the right to choose one of the following options with regard to their shares:

    1. to retain any or all of their Series 3 Shares and continue to receive a fixed rate quarterly dividend; or
    2. to convert, on a one-for-one basis, any or all of their Series 3 Shares into Series 4 Shares and receive a floating rate quarterly dividend, and

    (b) the holders of Series 4 Shares have the right to choose one of the following options with regard to their shares:

    1. to retain any or all of their Series 4 Shares and continue to receive a floating rate quarterly dividend; or
    2. to convert, on a one-for-one basis, any or all of their Series 4 Shares into Series 3 Shares and receive a fixed rate quarterly dividend.

    Should a holder of Series 3 Shares choose to retain their shares, such shareholders will receive the new annual fixed dividend rate applicable to Series 3 Shares of 4.102 per cent for the five-year period commencing June 30, 2025 to, but excluding, July 2, 2030. Should a holder of Series 3 Shares choose to convert their shares to Series 4 Shares, holders of Series 4 Shares will receive the floating quarterly dividend rate applicable to the Series 4 Shares of 3.924 per cent for the three-month period commencing June 30, 2025 to, but excluding, Sept. 29, 2025. The floating dividend rate will be reset every quarter.

    Should a holder of Series 4 Shares choose to retain their shares, such shareholders will receive the floating quarterly dividend rate applicable to Series 4 Shares of 3.924 per cent for the three-month period commencing June 30, 2025 to, but excluding, Sept. 29, 2025. The floating dividend rate will be reset every quarter. Should a holder of Series 4 Shares choose to convert their shares to Series 3 Shares, holders of Series 3 Shares will receive the new fixed quarterly dividend rate applicable to the Series 3 Shares of 4.102 per cent for the five-year period commencing June 30, 2025 to, but excluding, July 2, 2030.

    Beneficial owners of Series 3 Shares and Series 4 Shares who want to exercise their right of conversion should communicate as soon as possible with their broker or other nominee and ensure that they follow their instructions in order to meet the deadline to exercise such right, which is 5 p.m. (EST) on June 16, 2025. Any notices received after this deadline will not be valid. As such, it is recommended that this be done well in advance of the deadline in order to provide the broker or other nominee with time to complete the necessary steps.

    Beneficial owners of Series 3 or Series 4 Shares who do not provide notice or communicate with their broker or other nominee by the deadline will retain their respective Series 3 Shares or Series 4 Shares, as applicable, and receive the new dividend rate applicable to such shares, subject to the conditions stated below.

    The foregoing conversions are subject to the conditions that: (i) if TC Energy determines that there would be less than one million Series 3 Shares outstanding after June 30, 2025, then all remaining Series 3 Shares will automatically be converted into Series 4 Shares on a one-for-one basis on June 30, 2025, and (ii) if TC Energy determines that there would be less than one million Series 4 Shares outstanding after June 30, 2025, then all of the remaining outstanding Series 4 Shares will automatically be converted into Series 3 Shares on a one-for-one basis on June 30, 2025. In either case, TC Energy will issue a news release to that effect no later than June 23, 2025.

    Holders of Series 3 Shares and Series 4 Shares will have the opportunity to convert their shares again on July 2, 2030 (adjusted from June 30, 2030 to account for applicable business days) and on June 30 in every fifth year thereafter as long as the shares remain outstanding. For more information on the terms of, and risks associated with an investment in the Series 3 Shares and the Series 4 Shares, please see the prospectus supplement dated March 4, 2010 which is available on sedarplus.ca or on our website.

    About TC Energy
    We’re a team of 6,500+ energy problem solvers connecting the world to the energy it needs. Our extensive network of natural gas infrastructure assets is one-of-a-kind. We seamlessly move, generate and store energy and deliver it to where it is needed most, to homes and businesses in North America and across the globe through LNG exports. Our natural gas assets are complemented by our strategic ownership and low-risk investments in power generation.

    TC Energy’s common shares trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP. To learn more, visit us at TCEnergy.com.

    FORWARD-LOOKING INFORMATION
    This release contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as “anticipate”, “expect”, “believe”, “may”, “will”, “should”, “estimate”, “intend” or other similar words). Forward-looking statements in this document are intended to provide TC Energy security holders and potential investors with information regarding TC Energy and its subsidiaries, including management’s assessment of TC Energy’s and its subsidiaries’ future plans and financial outlook. All forward-looking statements reflect TC Energy’s beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. As actual results could vary significantly from the forward-looking information, you should not put undue reliance on forward-looking information and should not use future-oriented information or financial outlooks for anything other than their intended purpose. We do not update our forward-looking information due to new information or future events, unless we are required to by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the most recent Quarterly Report to Shareholders and Annual Report filed under TC Energy’s profile on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission at www.sec.gov.

    -30-

    Media Inquiries:
    Media Relations
    media@tcenergy.com
    403-920-7859 or 800-608-7859

    Investor & Analyst Inquiries:
    Gavin Wylie / Hunter Mau
    investor_relations@tcenergy.com
    403-920-7911 or 800-361-6522

    PDF available: http://ml.globenewswire.com/Resource/Download/55e8d9aa-7d04-46ae-9653-a4cbb657df40

    The MIL Network –

    June 3, 2025
  • MIL-OSI: Angus Gold Reminds Shareholders of Upcoming Special Meeting and Provides Additional Disclosure Regarding Shareholder Approval Requirements

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 02, 2025 (GLOBE NEWSWIRE) — Angus Gold Inc. (TSX-V: GUS | OTC: ANGVF) (“Angus” or the “Company”) reminds shareholders of its upcoming special meeting (the “Special Meeting”) to vote on the proposed arrangement transaction (the “Arrangement”) with Wesdome Gold Mines Ltd. (“Wesdome”), announced on April 7, 2025 and to be held on June 19, 2025. Shareholders must submit proxies by 5:00 p.m. (Toronto time) on June 17, 2025. Angus encourages all shareholders to vote as soon as possible.

    Following a review of the Company’s information circular dated May 7, 2025 (the “Circular”) by the Ontario Securities Commission (“OSC”), Angus is also providing additional disclosure regarding the shareholder approval requirements under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). At the date of the Arrangement agreement and as of the record date of May 7, 2025 (the “Record Date”), Wesdome owned 6,300,000 common shares of Angus, representing 10.4% of the outstanding shares. As a result, Wesdome is a “related party” under MI 61-101, and, as noted in the Circular, the Arrangement constitutes a “business combination.” Accordingly, in addition to the 66 2/3% shareholder approval required under corporate law, the Arrangement requires “minority approval”—meaning approval by a majority of votes cast at the Special Meeting, excluding shares held by interested parties and related parties (each as defined under MI 61-101.

    All 6,300,000 Angus common shares held by Wesdome will be excluded from minority approval given it is a related party to the Company. In addition, as disclosed in the Circular, Patrick Langlois and Dennis Peterson, who collectively hold 5,375,000 Angus common shares, are considered interested parties under MI 61-101, and their Angus shares will therefore be excluded from the minority approval vote. Each of the members of the Angus special committee and board of directors were aware of, and received advice with respect to, the application of MI 61-101 to the Arrangement in light of Wesdome’s related party status.

    As of the Record Date, 60,331,050 Angus common shares were outstanding. Shareholders holding approximately 36.5% of these common shares have entered into voting support agreements in favour of the Arrangement, representing approximately 34.3% of the common shares eligible to vote for purposes of minority approval under MI 61-101.

    The OSC also requested clarification of a reference to the mix of cash and share consideration in the “Background to the Arrangement” section of the Circular. During negotiations, Wesdome proposed that Angus shareholders receive a mix of cash and Wesdome shares instead of all Wesdome shares. After a thorough review by the special committee and its independent legal and financial advisors, the special committee recommended—and the Angus board agreed—that this mixed‐consideration approach would provide greater certainty of value while still allowing shareholders to benefit from any upside in Wesdome’s share price. As the definitive agreements progressed, the parties agreed to finalize the exact cash and share mix, with the price and exchange ratio fixed on April 5, 2025.

    About Angus Gold:

    Angus Gold Inc. is a Canadian mineral exploration company focused on the acquisition, exploration, and development of highly prospective gold properties. The Company’s flagship project is the Golden Sky Project in Wawa, Ontario. The Project is immediately adjacent to the Eagle River Mine of Wesdome Gold Mines Ltd. (“Wesdome”). 

    On behalf of Angus Gold Inc.,

    Breanne Beh
    President and Chief Executive Officer

    INQUIRIES:
    Lindsay Dunlop, Vice President Investor Relations
    Email: info@angusgold.com
    Phone: 647-259-1790
    Company Website: www.angusgold.com

    TSXV: GUS | USOTC: ANGVF

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

    Forward-Looking Statements

    This news release contains “forward-looking information” which may include, but is not limited to, statements with respect to the future financial and operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

    Forward-looking statements or information contained in this press release include, but are not limited to, statements or information with respect to: (i) expectations regarding whether the proposed Arrangement will be consummated, including whether conditions to the consummation of the Arrangement will be satisfied, or the timing for completing the Transaction, (ii) expectations for the effects of the Arrangement or the ability of the combined company to successfully achieve business objectives, including integrating the companies or the effects of unexpected costs, liabilities or delays, (iii) the potential benefits and synergies of the Arrangement, and (iv) expectations for other economic, business, and/or competitive factors.

    Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors including those risk factors discussed in the sections titled “Cautionary Note Regarding Forward Looking Information” and “Risks and Uncertainties” in the Company’s most recent Annual Information Form. Readers are urged to carefully review the detailed risk discussion in our most recent Annual Information Form which is available on SEDAR+ and on the Company’s website.

    The MIL Network –

    June 3, 2025
  • MIL-Evening Report: Tax concessions on super need a rethink. These proposals would bring much needed reform

    Source: The Conversation (Au and NZ) – By Chris Murphy, Visiting Fellow, Economics (modelling), Australian National University

    fizkes/Shutterstock

    The federal government has proposed an additional tax of 15% on the earnings made on super balances of over A$3 million, the so-called Division 296 tax. This has set off a highly politicised debate that has often shed more heat than light.

    Yet back in 2009, the wide-ranging Henry Review of the tax system cogently identified the three main problems with the super tax system and recommended reforms to fix them. The Henry Review recommendations, after some updating, are a better, more comprehensive solution than the controversial Division 296 tax.

    The three problems are:

    1. tax concessions for contributions are heavily skewed to high income earners

    2. with an ageing population, it is unsustainable to keep the retirement phase tax-free

    3. the system is so complex that most people do not fully understand it.

    It is critical to properly address these problems with how super is taxed because Australians now have a massive $4.1 trillion in superannuation savings.

    Let us look at the main Henry Review recommendations and then see how the proposed Division 296 tax stacks up. Unlike some super tax systems, our system does not tax super pension payments, so the two key issues are how we tax contributions and earnings.

    Tax concessions are skewed to high income earners

    Employers pay workers in two ways.

    First, they directly pay a cash salary that is taxed under a progressive income tax scale. The effective marginal tax rates, including the Medicare levy, rise in steps with income from 18% through to 32% (for the average wage earner), 39% and 47%.

    Second, employers pay a contribution on workers’ behalf into their superannuation fund. From July 1, under the superannuation guarantee charge (SGC), this contribution will rise to 12% of cash salary. The contribution is taxed at a flat 15% when it is made into a fund, regardless of what income tax bracket the worker is in.

    The way contributions are taxed is a massive concession for high income earners. They pay 47% tax on additional cash salary – but only 15% on their super contributions. In contrast, low income earners receive a tiny concession because the contributions tax rate of 15% is only just below their usual effective marginal tax rate of 18%.

    The Henry Review recommended that instead, everyone should receive the same rate of tax concession as the average wage earner. This is how that idea would work today.

    First, super contributions would be taxed in the hands of employees alongside their cash salary, rather than this tax being deducted by the super fund as is currently the case. Second, everyone would receive the same tax offset calculated as 17% of their contributions as their super tax concession.

    One side effect of this Henry recommendation is that the average wage earner would now be paying the 15% contributions tax out of their own pocket, instead of the super fund paying this tax on the member’s behalf.

    However, this loss of cash income can be avoided by tweaking the Henry recommendation.

    Under my modified recommendation, the superannuation guarantee rate would be reduced to 10%, employers would be encouraged to fully pass on their savings from this by increasing wages by 1.8%, and the tax offset rate would be lifted to 20%. These policy settings would maintain both cash incomes and super balances for the average wage earner.

    Pension mode should not be tax-free with an ageing population

    In accumulation mode, the current system taxes fund earnings at 15%, with a lower effective rate of 10% on capital gains. However, after you retire and your account changes from accumulation mode to pension mode, the tax on earnings stops and your pension benefits are also tax-free.

    The Henry Review recommended that earnings should continue to be taxed in pension mode in the same way as in accumulation mode. That way, retirees make a contribution to income tax revenue, which is important with an ageing population. A uniform earnings tax would also simplify what is an overly complex super tax system.

    The Henry Review also recommended the earnings tax rate be reduced to 7.5% because long-term saving through superannuation is desirable. However, that proposal is probably unaffordable today because of the budget deficit.

    The proposed change is just a patch-up job

    The proposed Division 296 tax further complicates the tax system by introducing a third tax treatment for earnings, whereas the Henry Review simplifies the system with a uniform earnings tax. The complexities of Division 296 can be seen from the 304-page explanatory memorandum.

    The new tax also raises less revenue than the Henry Review recommendations yet we are experiencing a structural budget deficit. The new tax is more open to avoidance than the Henry recommendations. The new tax also does nothing to address the problem that tax concessions for contributions are heavily skewed to high income earners.

    Taxing unrealised capital gains under the new tax may cause financial hardship for some retirees who are asset rich but income poor. The $3 million threshold for the new tax is not indexed, unlike all of the other super tax system thresholds.

    Overall, the proposed Division 296 tax is best seen as a rough attempt to counteract past policy errors that allowed excessive contributions into super.

    The federal government should first address the main problems with the super tax system by implementing the Henry Review recommendations, suitably updated. Then, a considerably reworked Division 296 tax could potentially play a useful supporting role.




    Read more:
    New taxes on super didn’t get much attention in the election campaign. But they could be tricky to implement


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

    – ref. Tax concessions on super need a rethink. These proposals would bring much needed reform – https://theconversation.com/tax-concessions-on-super-need-a-rethink-these-proposals-would-bring-much-needed-reform-257716

    MIL OSI Analysis – EveningReport.nz –

    June 3, 2025
  • MIL-Evening Report: Trump’s steel tariffs are unlikely to have a big impact on Australia. But we could be hurt by what happens globally

    Source: The Conversation (Au and NZ) – By Scott French, Senior Lecturer in Economics, UNSW Sydney

    Shestakov Dymytro/Shutterstock

    Just one day after the US Court of Appeals temporarily reinstated the Trump Administration’s Liberation Day tariffs of between 10% and 50% on nearly every country in the world, Trump announced tariffs on all US imports of steel and aluminium will increase from 25% to 50%.

    He told the rally of steel workers in Pennsylvania the increase would come into effect Wednesday US time.

    Trump said the increase “will even further secure the steel industry in the United States.” But Australia’s trade and tourism minister, Don Farrell, called them “unjustified and not the act of a friend” and “an act of economic self-harm that will only hurt consumers and businesses who rely on free and fair trade.”

    There was hope Australia would obtain an exemption from the original tariffs introduced in February. But it now seems clear Trump is intent on applying the tariffs across the board. And, unlike the Liberation Day tariffs, these are unlikely to face significant legal challenges.

    So, how will the steel tariffs affect Australians? To understand this, it is important to understand how it will affect the US and its other trading partners.

    The direct effect will be small

    As with the original 25% tariffs, the direct effect on Australian steel and aluminium producers will not be profound.

    Only about 10% of Australia’s steel and aluminium exports, and less than 1% of its overall production, goes to the US. Australia’s own BlueScope Steel’s North Star mill in Ohio is actually set to benefit from the tariffs.

    But most Australians will feel the effects of the tariffs through the indirect effects on US manufacturing and America’s trading partners.

    Impact on the US

    We know a lot about how US manufacturing will be affected because this has all happened before. In 2002, George W. Bush imposed tariffs of 8%-30% on steel products, before withdrawing them less than two years later. And Trump imposed tariffs of 25% on steel and 10% on aluminium in his first term.

    Research has shown the tariffs did slightly increase US metal production but at great cost. In addition to increasing prices for US consumers, as tariffs typically do, the Bush steel tariffs reduced overall employment, as manufacturers that use steel as an input laid off workers or went out of business.

    Further, while these tariffs were only in place for a short time, the affected US industries took years to recover, and many never have.

    The same thing happened with the tariffs from Trump’s first term, where any gains in steel and aluminium production were more than offset by losses in metal-consuming industries.

    For Australians, this means many products we buy from the US are going to get more expensive. This includes vehicles and aircraft as well as machinery and medical equipment used by Australian producers. And if the past is a guide, many products will simply become unavailable.

    Effects on trading partners

    While Australia does not export large amounts of steel and aluminium to US, other countries do. The higher tariffs will further depress the Canadian and Mexican metals industries, which can affect Australian industry in several ways.

    First, if North American consumers are buying less of everything, that reduces demand for Australia’s exports, both directly and indirectly as the reduced spending makes is way down the supply chain.

    Australia exports very little steel to the US so is less likely to be hurt by the direct impact of the tariffs.
    IndustryViews/Shutterstock

    Second, the affected metals manufacturers will look for other markets for their products. Canada is not likely to flood Australia with cheap aluminium, but it may, for example, displace some of our exports to South Korea. And this is happening as the OECD is warning of excess steel capacity, driven in part by China’s outsized steel subsidies.

    But this is not all bad news for Australians. While local steel and aluminium producers will suffer from the diversion of supply from the US, a temporary fall in prices would offer some relief after the post-pandemic rise in building and infrastructure costs.

    Retaliatory tariffs

    On top of all these effects are the effects of retaliatory tariffs by other countries, as the EU has already threatened. Like the US tariffs, these tariffs will make consumers on both sides poorer, reducing demand for Australian exports. But they will open new markets as well. For example, China’s retaliatory tariffs on US almonds have caused a boom in Australian exports.

    The big question for Australia is how this will affect the price of iron ore, by far our largest export. So far, we have not seen major price swings. But if the latest salvo in Trump’s trade war causes the global economy to slow significantly, or if China backs off its steel subsidies, this could change.

    State of uncertainty

    And perhaps the most significant impact of the latest change in US tariff policy is the effect of ongoing uncertainty over US and global trade policy. Trade policy uncertainty reduces international trade flows and chills business investment.

    Whether a business is considering a venture dependent on an input that will be affected by tariffs or, like BlueScope’s Ohio steel mill, might stand to benefit from US tariffs, the uncertainty over what the policy will be tomorrow, let alone five years from now, will make any company hesitant to commit major funds.

    A case in point is Whyalla Steelworks, which has received a $2.4 billion rescue package and is currently in administration and seeking a buyer.

    With Donald Trump able to upend the global steel industry again at any moment, buyers will be thinking twice before investing billions of dollars, which is bad news for nearly everyone, not least of which the residents of Whyalla, who await the fate of a major local employer.

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

    – ref. Trump’s steel tariffs are unlikely to have a big impact on Australia. But we could be hurt by what happens globally – https://theconversation.com/trumps-steel-tariffs-are-unlikely-to-have-a-big-impact-on-australia-but-we-could-be-hurt-by-what-happens-globally-257959

    MIL OSI Analysis – EveningReport.nz –

    June 3, 2025
  • MIL-Evening Report: Is the private hospital system collapsing? Here’s what the sector’s financial instability means for you

    Source: The Conversation (Au and NZ) – By Yuting Zhang, Professor of Health Economics, The University of Melbourne

    lightpoet/Shutterstock

    Toowong Private Hospital in Brisbane is the latest hospital to succumb to financial pressures and will close its doors next week. The industry association attributes the psychiatric hospital’s closure to insufficient payments from and delayed funding negotiations with private insurers.

    Meanwhile, the future of Australia’s second-largest provide hospital provider, Healthscope, remains uncertain, after its parent company went into receivership last week.

    Healthscope’s 37 private hospitals are being kept afloat with a A$100 million loan and will continue to operate for now. But the hospitals will be sold to repay lenders, so their future depends on who buys and what the new owners decide to do.

    Across the board, private hospitals are struggling with soaring costs for staff and supplies, while private health insurance isn’t paying enough to cover these expenses.

    These underlying issues will not disappear magically. More private hospitals will face similar financial troubles and some will be forced to close. But we’re unlikely to see the collapse of the entire private sector.

    A mix of public and private

    Australia operates a unique public-private health-care mix, with around 700 public and 647 private hospitals.

    Public hospitals are largely government-owned and provide free care, funded by taxes. Private hospitals are owned and managed by private organisations, some of which are non-profit.

    The private health-care sector plays a large role in Australia, providing 41% of all hospitalisations, however 74% are same-day stays.

    Private hospitals are often smaller than public hospitals, without emergency departments, focusing on simpler, same-day care, and are more likely in cities. Some 83% of private hospitals are in metropolitan, 9% in regional centres and 8% in rural towns.

    In contrast, 27% of public hospitals are in the major cities, 57% in regional areas and 16% in remote areas.

    The role of private health insurance

    Access to private hospitals requires private health insurance.

    In 2022-23, the total A$21.5 billion was spent on private hospitals. Private health insurance covered about 45% ($9.7 billion), which comes from members’ premiums. Patients contributed 11% ($2.4 billion) in out-of-pocket costs.

    The government contributed a substantial 37% ($8 billion) mainly through Medicare. This is separate from the additional $8 billion the government provides annually as rebates to individuals for buying private health insurance.

    The majority of private hospitals are in metro areas.
    Ground Picture/Shutterstock

    A key issue is this rebate money doesn’t directly flow to private hospitals, leaving them vulnerable in negotiations with insurers, as we saw with Toowong Private Hospital.

    Evidence suggests these rebates might not be the most effective government investment. Experts, including me, have argued for direct funding into hospitals instead.

    So, as more private hospitals face troubles, what does this mean?

    Less choice and access for patients

    Patients will experience less choice and potentially harder access for specific types of care.

    In larger metropolitan areas with numerous private and public hospitals (including private wings in public hospitals), patients might switch to other private facilities or seek care as private patients in public hospitals.

    However, in smaller or rural areas with limited or no other private hospitals, choice diminishes significantly. In this case, you will need to reconsider whether you need to buy private health insurance.

    Currently, people earning over $97,000 (or families over $194,000 face an additional Medicare Levy Surcharge if they don’t hold private health insurance.

    This policy is not fair to those who have no access to private hospitals and should be changed.




    Read more:
    Who really benefits from private health insurance rebates? Not people who need cover the most


    While there might be slightly longer waits in the short-term for elective surgeries due to shifting patient loads, our analysis suggests this won’t be a major long-term problem. The primary constraint for wait times is often personnel, not facilities.

    If private hospitals close, doctors and nurses could potentially shift to public hospitals, helping to alleviate staffing shortages and reduce overall wait times.

    Impacts for the public system

    The impact on public emergency departments will be minimal, as most private hospitals lack them.

    Many private hospital admissions are same-day and for simpler procedures. So public hospitals and remaining private hospitals (that are not operating at full bed capacity) should be able to absorb this extra demand in the long run, if they can attract more staff previously employed (or even facilities) in the closing private hospitals.

    These hospitals will also receive additional revenue for these additional procedures.

    Public hospitals should be able to absorb the extra demand.
    Shutterstock

    Consequently, the effect on public hospital wait times for most conditions should not be substantial.

    However, some complex, long-stay, or specific mental health cases (such as those from Toowong) may be hard to absorb without additional supply of specialists and funding.

    What about health budgets?

    In areas where patients are absorbed into existing public hospital capacity or other private facilities, the direct impact on the health budget would be minimal.

    With more patients, the remaining private hospitals may gain more power to negotiate better funding contracts with insurance companies and achieve better supplier costs through economies of scale.

    In areas where private hospitals (or public hospitals offering private care) cease to be viable, and people drop their private health insurance cover to use public hospitals, the government would pay more directly into public hospitals. However, this increased cost would be partially offset by reduced expenditure on private health insurance rebates.

    Patients would also save money on premiums and out-of-pocket costs in private hospitals, though they would lose the choice of private care.

    Ultimately, where a private model isn’t financially sustainable, the government or taxpayers often end up bearing the cost anyway.

    Investing more directly in public hospitals in these areas, rather than relying on inefficient rebates, could be a more effective solution.




    Read more:
    Does private health insurance cut public hospital waiting lists? We found it barely makes a dent


    Yuting Zhang has received funding from the Australian Research Council (future fellowship project ID FT200100630), Department of Veterans’ Affairs, the Victorian Department of Health, National Health and Medical Research Council and Eastern Melbourne Primary Health Network. In the past, Professor Zhang has received funding from several US institutes including the US National Institutes of Health, Commonwealth fund, Agency for Healthcare Research and Quality, and Robert Wood Johnson Foundation. She has not received funding from for-profit industry including the private health insurance industry.

    – ref. Is the private hospital system collapsing? Here’s what the sector’s financial instability means for you – https://theconversation.com/is-the-private-hospital-system-collapsing-heres-what-the-sectors-financial-instability-means-for-you-257886

    MIL OSI Analysis – EveningReport.nz –

    June 3, 2025
  • MIL-OSI USA: Welch Speaks About Trump’s Attack on Green Jobs at Energy Action Network (EAN) and EAN Climate Workforce Coalition Forum

    US Senate News:

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

    WINOOSKI, VT – U.S. Senator Peter Welch (D-Vt.), Ranking Member of the Senate Agriculture Subcommittee on Rural Development, Energy, and Credit, joined a forum hosted by the Energy Action Network (EAN) and the EAN Climate Workforce Coalition on how Congressional policy and budget decisions may impact Vermont’s energy transformation and climate action initiatives, including Vermont’s climate workforce. 
    “President Trump has put Big Oil first, and his attacks on green jobs prove it. He and his administration are walking back our global climate goals, gutting tax credits that help folks make energy efficiency home upgrades, and slashing green jobs and climate research. Vermonters have made their opposition to Trump’s actions clear—I’ve heard from hundreds of folks across our state who are deeply concerned about how Republicans’ budget will raise costs for families, businesses, and farmers,” said Senator Welch. “I’ll continue to join Senate Democrats in standing up to these attacks and fighting for a clean energy future.” 
    Republicans’ reconciliation bill will repeal clean energy programs established through the historic Inflation Reduction Act and raise energy costs for American households and businesses. It will eliminate jobs in manufacturing, clean technologies, and budding industries, and has already sown economic uncertainty throughout the energy sector. 
    The legislation advanced by the U.S. House of Representatives would effectively repeal many of the clean energy investments in the Inflation Reduction Act while expanding fossil fuel production and subsidies. Specifically, the bill: 

    Rescinds unspent funding for clean energy grant programs in the Inflation Reduction Act;  
    Eliminates or effectively eliminates most clean energy tax credits including: 

    Electric Vehicles Tax Credit for new and used vehicles;  
    Energy Efficiency Home Improvement Tax Credit; 
    Clean Electricity Investment and Production Tax Credits; 
    Advanced Manufacturing Production Credit; and 

    Mandates oil and gas leases on public lands and allows Big Oil companies to pay the government to fast-track environmental reviews. 

    All told, Republicans’ plans will have drastic consequences for the economy. Studies predict that repealing the Inflation Reduction Act will eliminate 790,000 jobs, increase energy costs for American consumers by $32 billion between 2025-35, and shrink the U.S. economy by $190 billion in 2035. President Trump’s policies have already killed $14 billion in clean energy investments and 10,000 new energy jobs since he took office. 

    MIL OSI USA News –

    June 3, 2025
  • MIL-OSI: 21Shares Announces 3-for-1 Share Split for ARK 21Shares Bitcoin ETF (ARKB)

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 02, 2025 (GLOBE NEWSWIRE) — 21Shares US LLC (“21Shares”), an affiliate of 21Shares AG, one of the world’s largest issuers of crypto exchange traded funds (“ETFs”), today announced a 3-for-1 share split for its flagship fund ARK 21Shares Bitcoin ETF (ARKB). This move is designed to make shares more accessible to a broader base of investors and enhance trading efficiency.

    The share split is expected to be effective at market open on June 16, 2025. Following the split, the fund’s shares will continue to trade under the ticker symbol “ARKB” under the same CUSIP, and the total net asset value (NAV) of ARKB will not change as a result of the split. The investment objective, strategy, and underlying holdings of the fund remain unchanged.

    Fund name Ticker CUSIP Split
    Ratio
    Record
    Date
    Pay Date Ex-Date
    ARK 21Shares
    Bitcoin ETF
    ARKB 409191022 3:1 June 12,
    2025
    June 13,
    2025
    June 16,
    2025

    ARKB is a physically-backed Bitcoin ETF that seeks to track the performance of Bitcoin as measured by the performance of the CME CF Bitcoin Reference Rate – New York Variant. The fund is designed to offer investors regulated access to the world’s largest cryptocurrency.

    For more information on ARKB, please visit https://www.21shares.com/en-us/product/arkb.

    About 21Shares

    21Shares AG, an affiliate of 21Shares US LLC, the sponsor to the ARK 21Shares Bitcoin ETF (ARKB), is one of the world’s leading cryptocurrency exchange traded product providers and offers the largest suite of crypto ETPs in the market. The company was founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. 21Shares listed the world’s first physically-backed crypto ETP in 2018, building a seven-year track record of creating crypto exchange-traded funds that are listed on some of the biggest, most liquid securities exchanges globally. Backed by a specialized research team, proprietary technology, and deep capital markets expertise, 21Shares delivers innovative, simple and cost-efficient investment solutions.

    21Shares is a member of 21.co, a global leader in decentralized finance. For more information, please visit www.21Shares.com

    Contact: matteo.valli@21shares.com

    Important Information

    The information provided does not constitute a prospectus or other offering material and does not contain or constitute an offer to sell or a solicitation of any offer to buy securities or financial instruments in any jurisdiction, including the United States. Some of the information published herein may contain forward-looking statements. Such forward-looking statements include, but are not limited to, statements about the stock split, and are subject to risks, uncertainties and other factors beyond ARKB’s control, including those risks set forth in ARKB’s annual report on Form 10-K and subsequent SEC filings. The information contained herein may not be considered as economic, legal, tax, or other advice and viewers are cautioned not to base investment or any other decisions on the content hereof.

    The MIL Network –

    June 3, 2025
  • MIL-OSI USA: Alford Requests Report Reviewing Biden Administration’s Use of Race-Based Criteria in Relief for Farmers

    Source: United States House of Representatives – Representative Mark Alford (Missouri 4th District)

    Following groundbreaking investigative reporting from NewsNation, Congressman Mark Alford (MO-04) sent a letter to the U.S. Department of Agriculture (USDA), the USDA’s Inspector General (IG), and the Government Accountability Office (GAO), requesting a report within 90 days on the Biden Administration’s continued use of race-based, DEI criteria in loan relief programs for farmers, even after a federal court ruled it unconstitutional.

    Read the full letter here or below:

    “Dear Secretary Rollins, Comptroller General Dodaro, and Inspector General Sorensen,

    “I am writing to urgently request a review of Diversity, Equity, and Inclusion (DEI) policies in United States Department of Agriculture (USDA) programs authorized by the Biden Administration. As first reported by NewsNation, socially disadvantaged farmers were provided additional loan relief in Section 1005 of the American Rescue Act. Picking winners and losers within American Agriculture is a disservice to both consumers and producers and deserves immediate attention. Simply put, this is racial discrimination.

    “Specifically, Section 1005 provides funding for the USDA to pay off outstanding farm loan debts of up to 120 percent for socially disadvantaged farmers and ranchers. As defined in Section 2501(a) of the Food, Agriculture Conservation and Trade Act of 1990, ‘socially disadvantaged farmer or rancher’ means a farmer or rancher who is a member of a socially disadvantaged group, essentially ensuring white farmers could not receive loan forgiveness.

    “As a result, several Caucasian farmers sued in federal court alleging that this provision was race-based and unconstitutional. Even though the federal court judge agreed that constitutional harm was found, the Biden Administration’s USDA did not cease their wrongful and racial distribution of assistance. In fact, the administration turned toward the Inflation Reduction Act (IRA) to continue offering assistance specifically for farmers with socially disadvantaged status. This is outrageous and any program based on race is inherently unconstitutional, racist, and wrong. Our nation’s farmers work sunup to sundown to feed, fuel and clothe the world, regardless of the color of their skin, and none of them deserve this type of discrimination.

    “I am proud of the steps President Trump and his administration have taken and continue to take to eliminate DEI from our government. Which is why it is of the upmost importance we investigate these programs and their implications on American farmers. I implore you to complete a report outlining the scope of socially disadvantaged farmer programs under the Biden administration, their geographical reach, and their financial impact within 90 days.

    It is essential that this egregious overreach never occurs again. Our farmers and ranchers should be empowered as the backbone of America.”

    ###

    MIL OSI USA News –

    June 3, 2025
  • MIL-OSI Security: Construction Manager Sentenced to Prison for Multimillion-Dollar Embezzlement and Tax Evasion

    Source: US FBI

    Jay Clayton, the United States Attorney for the Southern District of New York, announced today that JOSE GARCIA was sentenced to 27 months in prison for committing two lengthy fraud crimes—a $4.5 million embezzlement crime and a $2.1 million tax evasion crime.  In the embezzlement scheme, GARCIA had a lucrative no-show job with a technology company from 2012 to 2019.  GARCIA did no work for the technology company, but GARCIA’s co-conspirator, a technology executive, approved millions in payments to GARCIA and GARCIA’s shell entities.  In the tax evasion scheme, GARCIA neither filed tax returns nor paid income taxes from 2011 through 2019.  GARCIA previously pled guilty to wire fraud conspiracy and tax evasion before U.S. District Judge Dale E. Ho, who imposed today’s sentence.  Three other members of the embezzlement conspiracy have also pled guilty to date.

    “Jose Garcia engaged in a lengthy embezzlement scheme that involved a no-show job, fraudulent billings, and largescale cash kickbacks,” said U.S. Attorney Jay Clayton. “Garcia then doubled-down and sought to conceal his embezzlement activities by committing another crime – tax evasion.  In all, Garcia stole millions at the expense of hard-working, tax-paying Americans.  He then used the proceeds of his frauds to fund a lavish lifestyle.  For these brazen crimes, Garcia has been sentenced to prison.”

    According to the allegations contained in the Indictment, the Superseding Information to which GARCIA pled guilty, and statements made in public filings and in public court proceedings:

    The Embezzlement Scheme

    From approximately May 2010 through February 2019, GARCIA’s co-defendant, Mark Angarola, spearheaded a large fraud scheme to unlawfully enrich himself and his co-conspirators (the “Conspirators”) by submitting and causing to be submitted fraudulent invoices and expenses to an information technology (“IT”) services company (the “Contractor”), at which Angarola was employed in a senior position. In total, the embezzlement scheme caused a loss of more than $7 million.  GARCIA received the majority of the scheme’s fraud proceeds: $4,554,950.

    Angarola was a New York-based Global Account General Manager at the Contractor.  He was responsible for managing the Contractor’s relationship with a particular client, which was a subsidiary of a global financial institution (the “Client”).  The Contractor had a service contract with the Client, pursuant to which the Contractor provided IT support services to the Client at locations across the U.S.  The Contractor subcontracted certain of this work to a technology solutions company (the “Subcontractor”).  Pursuant to the agreement between the Contractor and the Subcontractor (the “Subcontract”), the Subcontractor provided certain IT support services directly to the Client in the place of the Contractor.  Angarola was responsible for oversight of the Subcontractor’s performance on the Subcontract, which included approving payment to the Subcontractor on invoices submitted for work purportedly performed and expenses purportedly incurred in the Subcontractor’s performance on the Subcontract.

    Angarola abused his position to fraudulently enrich himself, his family, and his friends.  For instance, he arranged for the Subcontractor to hire certain of his family members, friends, and subordinates, despite the fact that these individuals lacked apparent qualifications to perform deskside IT work.  He arranged for the Subcontractor to hire, among others, his wife (a homemaker); his former college roommate (a police sergeant); and his close friends, including GARCIA (a construction manager) and GARCIA’s wife (a schoolteacher).  Thereafter, various Conspirators falsely reported to the Subcontractor that they had performed work under the Subcontract and incurred business expenses.  The Subcontractor submitted invoices to the Contractor for the hours purportedly worked and business expenses purportedly incurred by several of the Conspirators, and Angarola, in turn, caused the Contractor to pay the Subcontractor on these fraudulent invoices.  The purported business expenses incurred by several Conspirators, and ultimately paid for by the Contractor at the direction of Angarola, included restaurant meals, hotel stays, transportation fees, a cruise, and gentlemen’s clubs.  In fact, the expenses were personal expenses and were not reimbursable under the Contractor’s policy.

    GARCIA was a central beneficiary of the embezzlement scheme and received the majority of the fraud proceeds.  These fraud proceeds were paid in part to GARCIA personally, and in part to his shell entities.  GARCIA did no work whatsoever for the Contractor or Subcontractor, but invoiced the Subcontractor, month after month, requesting payment for purported “Management Fees.” For instance, at different points in the scheme, GARCIA requested monthly payment of $36,000, $45,000, $51,000, or $60,000.  Angarola approved these payments to GARCIA on behalf of his employer, the Contractor. In return, GARCIA paid Angarola cash kickbacks exceeding $1 million.  GARCIA participated in the embezzlement scheme despite having fulltime, gainful employment elsewhere as a consultant and project manager in the construction industry.

    Financial records reveal that GARCIA spent fraud proceeds on, among other things, private school tuition, rent, luxury travel, luxury items, gym memberships, and sports memorabilia.  For instance, GARCIA paid for stays at luxury hotels such as the Ritz Carlton (in four different cities), the Waldorf Astoria, and the Plaza.  And GARCIA spent more than $50,000 on luxury items, including expensive purchases at Cartier, Hermes, Gucci, Louis Vuitton, Bulgari, Burberry, Bianca Jewelers, a glass blower in Venice, and a violin shop specializing in Stradivarius models.

    Tax Evasion

    From 2011 through 2019, GARCIA also committed tax evasion, resulting in a tax loss to the Internal Revenue Service (“IRS”) of approximately $2,116,605.  For this nine-year period, GARCIA neither filed tax returns nor paid income taxes. As such, GARCIA failed to report to the IRS the income he derived from the embezzlement scheme as well as the income he derived from other business interests and sources.   GARCIA used shell entities to conceal his receipt of income, including by creating such entities, diverting income to such entities, and using entity bank accounts to pay for his personal expenses.

    *                *                *

    In addition to his prison term, GARCIA, 53, of New York, New York, was sentenced to three years of supervised release.  GARCIA was also ordered to forfeit $4,554,950 and pay restitution in the amount of $7,007,055.

    Mr. Clayton praised the outstanding investigative efforts of the Federal Bureau of Investigation, New York Field Office; the IRS-Criminal Investigation, New York Field Office; and the U.S. Department of Labor – Office of Inspector General, Northeast Regional Office.

    This matter is being handled by the Office’s Complex Frauds and Cybercrime Unit, along with the Justice Department’s Tax Division.  Assistant U.S. Attorneys Michael D. Neff, Timothy V. Capozzi, and Special Assistant U.S. Attorney Jorge Almonte of the Tax Division are in charge of the prosecution.

    MIL Security OSI –

    June 3, 2025
  • MIL-OSI Security: Father and Son Plead Guilty to Defrauding Sports Park Bondholders

    Source: US FBI

    Jay Clayton, the United States Attorney for the Southern District of New York, announced today that RANDY MILLER and CHAD MILLER pled guilty to securities fraud and aggravated identity theft in connection with their scheme to defraud municipal bond investors.  The defendants pled guilty before U.S. Magistrate Judge Robyn F. Tarnofsky and will be sentenced before U.S. District Judge Lewis A. Kaplan at a later date.

    “Randy and Chad Miller’s fraudulent actions resulted in nearly total losses for investors,” said U.S. Attorney Jay Clayton.  “As today’s guilty pleas make clear, this Office remains committed to protecting the integrity of the public finance system and holding accountable those who exploit investors’ trust.  This case demonstrates the strength of our partnership with the FBI, whose diligent investigation uncovered the defendants’ fraud.”

    According to the allegations contained in the Indictment, the Superseding Information, public filings, and statements made in court:

    RANDY MILLER and CHAD MILLER defrauded investors in municipal bonds used to fund the development of a major sports complex in Mesa, Arizona called Legacy Park.  In connection with the initial $250 million bond offering in August 2020 and supplemental bond offering in June 2021, the defendants lied to potential investors about the interest sports organizations and other potential customers had in using or relocating to Legacy Park.  The defendants and their associates forged and altered purported “binding” letters of intent and other documents from those potential customers to make it appear that the customers were committing to holding many events at Legacy Park, with a significant number of spectators, and agreeing to pay large fees – all far beyond what the organizations were considering, if they were considering Legacy Park at all.  In some instances, RANDY MILLER and CHAD MILLER signed and directed others to sign customers’ names without the customers’ knowledge or permission.  At other times, the defendants copied and directed others to copy the signatures of other customers onto the fabricated letters, again without the customers’ knowledge or permission.  As part of their scheme, the defendants forged documents on behalf of numerous persons and organizations, including an organization that promotes sports for disabled athletes.

    RANDY MILLER and CHAD MILLER presented the fraudulent documents to prospective bond investors and incorporated them into their solicitation materials by claiming that Legacy Park would be 100% occupied at opening and would generate nearly $100 million in revenue in its first year of operations, more than enough to cover the bond payments. 

    After the Legacy Park bonds were sold to investors, RANDY MILLER and CHAD MILLER profited personally from the bond proceeds raised.  Legacy Park opened in 2022 and failed shortly thereafter, defaulting on its bonds in October 2022 and filing for bankruptcy in May 2023.  The project was later sold in bankruptcy for less than $26 million.  Of those proceeds, less than $2.5 million went to repay the approximately $284 million owed to Legacy Park bondholders.

    *               *                *

    RANDY MILLER, 70, and CHAD MILLER, 41, both of Phoenix, Arizona, pled guilty to one count of securities offering fraud, which carries a maximum sentence of five years in prison, and one count of aggravated identity theft, which carries a mandatory consecutive sentence of two years in prison.  As part of their guilty pleas, money judgments in the amounts of $7,289,134.89 and $4,798,980.19 were entered against RANDY MILLER and CHAD MILLER, respectively.

    The maximum potential sentence in this case is prescribed by Congress and is provided here for informational purposes only, as any sentencing of the defendants will be determined by a judge. 

    Mr. Clayton praised the outstanding work of the Federal Bureau of Investigation.  Mr. Clayton also thanked the U.S. Securities and Exchange Commission, which has filed a parallel civil action. 

    The case is being handled by the Office’s Securities and Commodities Fraud Task Force. Assistant U.S. Attorneys Matthew R. Shahabian and Courtney L. Heavey are in charge of the prosecution.

    MIL Security OSI –

    June 3, 2025
  • MIL-OSI: HCI Group Announces Completion of its 2025 – 2026 Catastrophe Reinsurance Programs

    Source: GlobeNewswire (MIL-OSI)

    TAMPA, Fla., June 02, 2025 (GLOBE NEWSWIRE) — HCI Group, Inc. (NYSE: HCI) has successfully completed its catastrophe reinsurance programs for the 2025-2026 treaty year, which runs from June 1, 2025 through May 31, 2026.

    “We are grateful for the strong support from our global reinsurance partners, whose continued confidence in HCI underscores the quality of our underwriting and our disciplined approach to risk,” said Paresh Patel, HCI’s chairman and chief executive officer. “We believe our reinsurance programs are prudently structured to protect the long-term financial stability of our insurance companies. With the reinsurance placement now finalized, we are well-positioned to pursue strategic initiatives aimed at delivering sustained value to our shareholders.”

    HCI secured three reinsurance towers for the 2025-2026 treaty year. Reinsurance Tower 1 is shared between HCI subsidiary, Homeowners Choice Property & Casualty Insurance Company, and HCI sponsored reciprocal insurance company, Tailrow Insurance Exchange, and covers all Homeowners Choice policies issued in Florida and all Tailrow policies issued in Florida. Reinsurance Tower 2 is shared between HCI subsidiary, TypTap Insurance Company, and Homeowners Choice and covers all TypTap policies (whether issued in Florida or outside of Florida) and all Homeowners Choice policies issued outside of Florida. Reinsurance Tower 3 covers all Condo Owners Reciprocal Exchange policies issued in Florida. Condo Owners Reciprocal Exchange, known as CORE, is a reciprocal insurance company sponsored by HCI.

    Across the three reinsurance towers, HCI secured over $3.5 billion in excess of loss aggregate limit and full reinstatement premium protection for the 2025-2026 treaty year. Claddaugh Casualty Insurance Company Ltd, HCI’s Bermuda-based reinsurance subsidiary, selectively participates across all three reinsurance towers. All participating reinsurers are AM Best rated ‘A-’ (Excellent) or better or have fully collateralized their obligations to HCI.

    The statutory retentions for the first and second event are $18 million for both Reinsurance Tower 1 and Reinsurance Tower 2, and $3 million for Reinsurance Tower 3. Claddaugh’s estimated maximum retained loss is approximately $117 million for a first event and $35 million for a second event.

    For the three reinsurance towers, HCI expects to incur net consolidated reinsurance premiums ceded to third parties, excluding Claddaugh, of approximately $422 million from June 1, 2025 through May 31, 2026. The reinsurance premiums are an estimate based on exposure projections and subject to true up at September 30, 2025.

    More information is available in the Company’s Form 8-K, filed today with the U.S. Securities and Exchange Commission.

    About HCI Group, Inc.
    HCI Group is a holding company with two distinct operating units. The first unit includes four top-performing insurance companies, a captive reinsurance company, and operations in claims management and real estate. The second unit, called Exzeo Group, is a leading innovator of insurance technology that utilizes advanced underwriting algorithms and data analytics. Exzeo empowers property and casualty insurers to transform underwriting outcomes and achieve industry-leading results.

    The company’s common shares trade on the New York Stock Exchange under the ticker symbol “HCI” and are included in the Russell 2000 and S&P SmallCap 600 Index. HCI Group, Inc. regularly publishes financial and other information in the Investor Information section of the company’s website. For more information about HCI Group and its subsidiaries, visit www.hcigroup.com.

    Company Contact:
    Bill Broomall, CFA
    Investor Relations
    HCI Group, Inc.
    Tel (813) 776-1012
    wbroomall@exzeo.com

    Investor Relations Contact:
    Matt Glover
    Gateway Group, Inc.
    Tel 949-574-3860
    HCI@gateway-grp.com

    The MIL Network –

    June 3, 2025
  • MIL-OSI: Turtle Beach Corporation to Participate in Fireside Chat Hosted by Maxim Group

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, June 02, 2025 (GLOBE NEWSWIRE) — Turtle Beach Corporation (Nasdaq: TBCH), a leading gaming accessories brand, today announced that Cris Keirn, Chief Executive Officer, and Mark Weinswig, Chief Financial Officer, will participate in a fireside chat at the Maxim Group 2025 Virtual Tech Conference, on Wednesday, June 4 at 2:00p.m. ET.

    A live webcast of the event will be available through the “Events & Presentations” section of TBCH’s website at corp.turtlebeach.com. A replay of the webcast will be available on the investor relations website for two weeks.

    About Turtle Beach Corporation
    Turtle Beach Corporation (the “Company”) (corp.turtlebeach.com) is one of the world’s leading gaming accessory providers. The Company’s namesake Turtle Beach brand (www.turtlebeach.com) is known for designing best-selling gaming headsets, top-rated game controllers, award-winning PC gaming peripherals, and groundbreaking gaming simulation accessories. Innovation, first-to-market features, a broad range of products for all types of gamers, and top-rated customer support have made Turtle Beach a fan-favorite brand and the market leader in console gaming audio for over a decade. Turtle Beach Corporation acquired Performance Designed Products LLC (www.pdp.com) in 2024. Turtle Beach’s shares are traded on the Nasdaq Exchange under the symbol: TBCH.

    Cautionary Note on Forward-Looking Statements
    This press release includes forward-looking information and statements within the meaning of the federal securities laws. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions, or beliefs about future events. Statements containing the words “may”, “could”, “would”, “should”, “believe”, “expect”, “anticipate”, “plan”, “estimate”, “target”, “goal”, “project”, “intend” and similar expressions, or the negatives thereof, constitute forward-looking statements. Forward-looking statements are only predictions and are not guarantees of performance. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. The inclusion of such information should not be regarded as a representation by the Company, or any person, that the objectives of the Company will be achieved. Forward-looking statements are based on management’s current beliefs and expectations, as well as assumptions made by, and information currently available to, management.

    While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that its goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. Some of these factors include, but are not limited to, risks related to trade policies, including the imposition of tariffs on imported goods and other trade restrictions, the release and availability of successful game titles, macroeconomic conditions affecting the demand for our products, logistic and supply chain challenges and costs, dependence on the success and availability of third-parties to manufacture and manage the logistics of transporting and distributing our products, the substantial uncertainties inherent in the acceptance of existing and future products, the difficulty of commercializing and protecting new technology, the impact of competitive products and pricing, general business and economic conditions, risks associated with the expansion of our business including the integration of any businesses we acquire and the integration of such businesses within our internal control over financial reporting and operations, our indebtedness, liquidity, and other factors discussed in our public filings, including the risk factors included in the Company’s most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and the Company’s other periodic reports filed with the Securities and Exchange Commission. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, the Company is under no obligation to publicly update or revise any forward-looking statement after the date of this release whether as a result of new information, future developments or otherwise.

    CONTACTS

    Investors:
    tbch@icrinc.com

    Public Relations & Media:
    MacLean Marshall
    Sr. Director, Global Communications
    Turtle Beach Corporation
    (858) 914-5093
    maclean.marshall@turtlebeach.com

    The MIL Network –

    June 3, 2025
  • MIL-OSI: XAI Octagon Floating Rate & Alternative Income Trust Declares its Monthly Common Shares Distribution of $0.070 per Share

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, June 02, 2025 (GLOBE NEWSWIRE) — XAI Octagon Floating Rate & Alternative Income Trust (the “Trust”) has declared its regular monthly distribution of $0.070 per share on the Trust’s common shares (NYSE: XFLT), payable on July 1, 2025, to common shareholders of record as of June 16, 2025, as noted below. The amount of the distribution represents a 9.09% decrease from the previous month’s distribution amount of $0.077 per share.

    The Trust’s investment objective is to seek attractive total return with an emphasis on income generation across multiple stages of the credit cycle. Due to recent market volatility, the loan and CLO asset classes have experienced drastic interest rate spread compression, which has negatively impacted asset class yields. In the most recent quarter, market conditions were marked by heightened volatility stemming from tariff developments and ongoing trade tensions. With the new distribution amount of $0.070 per share, the Trust’s annualized distribution rate on market price was 14.51% and the annualized distribution rate on NAV is 13.86% as of market close on May 30, 2025.

    The following dates apply to the declaration:

         
    Ex-Dividend Date   June 16, 2025
       
    Record Date   June 16, 2025
       
    Payable Date   July 1, 2025
       
    Amount   $0.070 per common share
       
    Change from Previous Month   9.09% decrease
         

    Common share distributions may be paid from net investment income (regular interest and dividends), capital gains and/or a return of capital. The specific tax characteristics of the distributions will be reported to the Trust’s common shareholders on Form 1099 after the end of the 2025 calendar year. Shareholders should not assume that the source of a distribution from the Trust is net income or profit. For further information regarding the Trust’s distributions, please visit www.xainvestments.com.

    XFLT Q1 Webinar

    The Trust plans to host its Quarterly Webinar on June 4, 2025, at 12:00 pm (Eastern Time). Kevin Davis, Managing Director at XA Investments will moderate the Q&A style webinar with Kimberly Flynn, President at XA Investments, and Lauren Law, Senior Portfolio Manager at Octagon Credit Investors.

    TO JOIN VIA WEB: Please go to the Knowledge Bank section of xainvestments.com or click here to find the online registration link.

    TO USE YOUR TELEPHONE: After joining via web, if you prefer to use your phone for audio, you must select that option and call in using a number below, based on your current location.

    Dial: (312) 626-6799 or (646) 558-8656 or (267) 831-0333 or (213) 338-8477 or (720) 928-9299

    Webinar ID: 817 1030 7383

    REPLAY: A replay of the webinar will be available in the Knowledge Bank section of xainvestments.com.

    The Trust’s net investment income and capital gain can vary significantly over time; however, the Trust seeks to maintain more stable common share monthly distributions over time. The Trust’s investments in CLOs are subject to complex tax rules and the calculation of taxable income attributed to an investment in CLO subordinated notes can be dramatically different from the calculation of income for financial reporting purposes under accounting principles generally accepted in the United States (“U.S. GAAP”), and, as a result, there may be significant differences between the Trust’s GAAP income and its taxable income. The Trust’s final taxable income for the current fiscal year will not be known until the Trust’s tax returns are filed.

    As a registered investment company, the Trust is subject to a 4% excise tax that is imposed if the Trust does not distribute to common shareholders by the end of any calendar year at least the sum of (i) 98% of its ordinary income (not taking into account any capital gain or loss) for the calendar year and (ii) 98.2% of its capital gain in excess of its capital loss (adjusted for certain ordinary losses) for a one-year period generally ending on October 31 of the calendar year (unless an election is made to use the Trust’s fiscal year). In certain circumstances, the Trust may elect to retain income or capital gain to the extent that the Board of Trustees, in consultation with Trust management, determines it to be in the interest of shareholders to do so.

    The common share distributions paid by the Trust for any particular period may be more than the amount of net investment income from that period. As a result, all or a portion of a distribution may be a return of capital, which is in effect a partial return of the amount a common shareholder invested in the Trust, up to the amount of the common shareholder’s tax basis in their common shares, which would reduce such tax basis. Although a return of capital may not be taxable, it will generally increase the common shareholder’s potential gain, or reduce the common shareholder’s potential loss, on any subsequent sale or other disposition of common shares.

    The distribution shall be paid on the Payment Date unless the payment of such distribution is deferred by the Board of Trustees upon a determination that such deferral is required in order to comply with applicable law to ensure that the Trust remains solvent and able to pay its debts as they become due and continue as a going concern, or to comply with the applicable terms or financial covenants of the Trust’s senior securities.

    Future common share distributions will be made if and when declared by the Trust’s Board of Trustees, based on a consideration of a number of factors, including the Trust’s continued compliance with terms and financial covenants of its senior securities, the Trust’s net investment income, financial performance and available cash. There can be no assurance that the amount or timing of common share distributions in the future will be equal or similar to that described herein or that the Board of Trustees will not decide to suspend or discontinue the payment of common share distributions in the future.

    The investment objective of the Trust is to seek attractive total return with an emphasis on income generation across multiple stages of the credit cycle. The Trust seeks to achieve its investment objective by investing in a dynamically managed portfolio of opportunities primarily within the private credit markets. Under normal market conditions, the Trust will invest at least 80% of its Managed Assets in floating rate credit instruments and other structured credit investments. There can be no assurance that the Trust will achieve its investment objective.

    The Trust’s common shares are traded on the New York Stock Exchange under the symbol “XFLT,” and the Trust’s 6.50% Series 2026 Term Preferred Shares are traded on the New York Stock Exchange under the symbol “XFLTPRA”.

    About XA Investments

    XA Investments LLC (“XAI”) serves as the Trust’s investment adviser. XAI is a Chicago-based firm founded by XMS Capital Partners in 2016. XAI serves as the investment adviser for two listed closed-end funds and an interval closed-end fund. The listed closed-end funds, the XAI Octagon Floating Rate & Alternative Income Trust and XAI Madison Equity Premium Income Fund both trade on the New York Stock Exchange and the interval fund, Octagon XAI CLO Income Fund is available via direct subscription and through select broker/dealers and wealth management platforms.

    In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds to meet institutional client needs. XAI offers custom product build and consulting services, including development and market research, sales, marketing, fund management.

    XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. XAI provides individual investors with access to institutional-caliber alternative managers. For more information, please visit www.xainvestments.com.

    About XMS Capital Partners
    XMS Capital Partners, LLC, established in 2006, is a global, independent, financial services firm providing M&A, corporate advisory and asset management services to clients. It has offices in Chicago, Boston and London. For more information, please visit www.xmscapital.com.

    About Octagon Credit Investors
    Octagon Credit Investors, LLC (“Octagon”) serves as the Trust’s investment sub-adviser. Octagon is a 25+ year old, $32.1B below-investment grade corporate credit investment adviser focused on leveraged loan, high yield bond and structured credit (CLO debt and equity) investments. Through fundamental credit analysis and active portfolio management, Octagon’s investment team identifies attractive relative value opportunities across below-investment grade asset classes, sectors and issuers. Octagon’s investment philosophy and methodology encourage and rely upon dynamic internal communication to manage portfolio risk. Over its history, the firm has applied a disciplined, repeatable and scalable approach in its effort to generate attractive risk-adjusted returns for its investors. For more information, please visit www.octagoncredit.com.

    XAI does not provide tax advice; please consult a professional tax advisor regarding your specific tax situation. Income may be subject to state and local taxes, as well as the federal alternative minimum tax.

    Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the Trust carefully before investing. For more information on the Trust, please visit the Trust’s webpage at www.xainvestments.com.

    This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

    NOT FDIC INSURED        NO BANK GUARANTEE    MAY LOSE VALUE
             

    Paralel Distributors, LLC – Distributor

    Media Contact:

    Kimberly Flynn, President
    XA Investments LLC
    Phone: 888-903-3358
    Email: KFlynn@XAInvestments.com
    www.xainvestments.com

    The MIL Network –

    June 3, 2025
  • MIL-OSI: ILUS Provides Update on Shareholder Meeting

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, NY, June 02, 2025 (GLOBE NEWSWIRE) — Ilustrato Pictures International Inc. (OTC: ILUS) (“ILUS” or the “Company”), a mergers and acquisitions company focused on acquiring and scaling businesses in the public safety and industrial sectors, is pleased to provide shareholders with further details regarding its previously announced Annual Shareholder Meeting scheduled for Friday, June 20, 2025.

    The meeting will include updates from ILUS leadership on key business developments, strategic plans, and progress on current initiatives. Shareholders will have the opportunity to engage directly with the Company during a dedicated Q&A session.

    Meeting Details
    Date: Friday, June 20, 2025
    Time: 9:30 AM EDT
    Location: Trump International Beach Resort,18001 Collins Avenue, Sunny Isles Beach, FL 33160, United States

    To participate in the meeting, shareholders are required to register in advance using ILUS’ official event portal:
    https://www.eventbrite.com/e/ilus-shareholder-meeting-tickets-1353057223579

    Shareholders of record will be eligible to attend. Upon registration, participants will receive further instructions and access credentials for the event. Shareholders may also submit questions in advance through the portal.

    Additional meeting materials, including the formal notice and agenda, will be distributed in line with Regulation requirements and made available at https://ilus-group.com.

    For further information on ILUS, please see its communication channels:
    Website: https://ilus-group.com
    X: @ILUS_INTL
    Email: IR@Ilus-Group.com
    Source: ILUS

    Forward-Looking Statement

    Certain information set forth in this press release contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company’s business, projects, and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently underway, in development or otherwise under consideration; (vii) renewal of the Company’s current customer, supplier and other material agreements; and (viii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. The Securities and Exchange Commission (“SEC”) has provided guidance to issuers regarding the use of social media to disclose material nonpublic information. In this regard, investors and others should note that we announce material financial information via official Press Releases, in addition to SEC filings, press releases, Questions & Answers sessions, public conference calls, and webcasts also may take time from time to time. We use these channels as well as social media to communicate with the public about our company, our services, and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, considering the SEC’s guidance, we encourage investors, the media, and others interested in our company to review the information we post on the following social & media channels: Website: https://ilus-group.com X: @ILUS_INTL

    Contact:
    IR@Ilus-group.com
    (917) 522-3202

    The MIL Network –

    June 3, 2025
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