Category: Economy

MIL-OSI USA: Rosen Statement on Supreme Court Ruling Allowing Trump Administration to Revoke TPS for Venezuelans

US Senate News:

Source: United States Senator Jacky Rosen (D-NV)
WASHINGTON, DC – Today, U.S. Senator Jacky Rosen (D-NV) released the following statement regarding the Supreme Court’s decision to overturn a lower court’s decision to block President Trump from revoking Temporary Protected Status (TPS) for Venezuelans.
“Venezuelans still face dire and unimaginable conditions as a result of the Maduro regime’s brutality and oppression,” said Senator Rosen. “TPS has allowed law-abiding Venezuelans to escape political violence and economic collapse, and legally live in the United States and contribute to our economy. It’s outrageous that the Supreme Court is allowing Donald Trump to end this protection and send Venezuelans back into harm’s way.”
Senator Rosen has been clear in her support for securing the border and making sure the asylum process is humane and orderly. She has also been outspoken in opposing mass deportation, and strongly supporting DACA and TPS recipients and their families. Earlier this year, she condemned the Trump Administration’s decision to revoke a previously authorized TPS extension for Venezuelans and released a statement condemning President Trump’s unconstitutional attempt to end birthright citizenship. Last month, Rosen helped introduce legislation to reaffirm access to legal counsel during immigration proceedings.

MIL OSI USA News –

May 20, 2025
MIL-OSI USA: Senator Wicker Helping Maintain America’s AI Edge

US Senate News:

Source: United States Senator for Mississippi Roger Wicker
For decades, most Americans thought of artificial intelligence (AI) as a make-believe character in science fiction movies. Now, the future has arrived. We are adjusting to a world full of AI.
Artificial intelligence is with us at the doctor’s office, helping detect cancer during our annual screenings. Companies use AI to support self-driving vehicles. On Facebook, users debate whether video clips are authentic or are eerily believable “deepfakes.” ChatGPT notoriously allows students to produce illicit term papers in seconds. On the battlefield, AI lets soldiers quickly analyze enemy activity. I could go on – to AI’s applications in finance, agriculture, manufacturing, and more.
The Risks and Rewards of AI
Those capabilities make people both excited and troubled. We call this intelligence “artificial” because scientists create it. They use math to teach computers how to solve problems and recognize patterns. Americans recognize that AI has nearly unlimited potential to benefit humanity. But the technology also raises difficult questions about privacy and job security.
Even the recently-elected pope understands these concerns. In his first address to the world, Pope Leo XIV said this rapidly developing technology raises, “new challenges for the defense of human dignity, justice, and labor.” I believe the pope is right to recognize the high stakes. To use AI wisely, we need input from leaders in the church, government, academia, and the private sector.
In the U.S. Senate, my colleagues and I are working to balance the risks and rewards of AI. Earlier this year, we acted to protect Americans from some of the harmful uses of the technology. Congress passed and President Trump signed into law a bill called the Take It Down Act. A key part of that law sets punishments for those who use AI to create certain pornographic deepfakes.
Beat China in the AI Race
The Take It Down Act demonstrates the unfortunate fact that individuals can misuse AI to devastating effect. The same is true for our adversaries. For the past two decades, the Chinese Communist Party has been pouring trillions of dollars into its military, trying to challenge the United States in hard power. It has also been investing in cyber capabilities such as AI.
The United States is – and can remain – ahead of the Chinese Communist Party’s technological ambitions. But we must act quickly to keep America’s edge. Simply put, if we do not win the AI race, China will – directly threatening our national security.
To Win, Unleash American Innovation
America is poised to succeed in AI because we have the world’s most dynamic talent, research, and business ecosystem. The government should do what it can to facilitate that marketplace. Any government regulations on AI must begin with a “light touch” so that innovators can experiment, prototype, and compete. In this way, we mirror the approach the government took with the internet, allowing that technology to grow and develop in the United States.
Unfortunately, President Biden took the opposite approach. In the final week of his term, officials set new rules that would have handicapped the supply chain for chips and semiconductors, which power AI. The rule would have gone into effect this month, weakening the American companies helping us win the technology race.
My Republican colleagues and I encouraged President Trump to block the heavy-handed rule, and he did so this month. The president replaced that Biden-era policy with a framework that makes the United States and our allies more competitive again.
On that positive note, it seems fitting to conclude with a summary written by ChatGPT: “America has always led the world in innovation. From the lightbulb to the moon landing to the internet, we have proven time and again that freedom fosters invention. AI should be no different.”

MIL OSI USA News –

May 20, 2025
MIL-Evening Report: Speight’s Fiji coup had more to do with power, greed than iTaukei rights, says Chaudhry

Today marks the 25th anniversary of the May 19, 2000, coup led by renegade businessman George Speight.

The deposed Prime Minister, Mahendra Chaudhry, says Speight’s motive had less to do with indigenous rights and a lot more to do with power, greed, and access to the millions likely to accrue from Fiji’s mahogany plantation.

On this day 25 years ago, the elected government was held hostage at the barrel of the gun, the Parliament complex started filling up with rebels supporting the takeover, Suva City and other areas in Fiji were looted and burnt, and innocent people were attacked just because of their race.

Chaudhry said indigenous emotions were “deliberately ignited to beat up support for the treasonous actions of the terrorists”.

He said the coup threw the nation into chaos from which it had not fully recovered even to this day.

Chaudhry said using George Speight as a frontman, the “real perpetrators” of the coup, assisted by a group of armed rebels from the Republic of Fiji Military Forces (RFMF), held Chaudhry and members of his government hostage for 56 days as they plundered, looted and terrorised the Indo-Fijian community in various parts of the country.

The Fiji Labour Party leader said that, as with current Prime Minister Sitiveni Rabuka, who led the first two coups in 1987, so with Speight in May 2000, that the given reason for the treason and the mayhem that followed was to “protect the rights and interests of the indigenous community”.

Chaudhry said today that it was widely acknowledged that the rights of the indigenous community was not endangered either in 1987 or in 2000.

He added that they were simply used to pursue personal and political agendas.

Prime Minister Sitiveni Rabuka with former prime minister Mahendra Chaudhry . . . apology accepted during the Girmit Day Thanksgiving and National Reconciliation church service at the Vodafone Arena in Suva. Image: Jonacani Lalakobau/The Fiji Times

The FLP leader said those who benefitted were the elite in Fijian society, not ordinary people.

Chaudhry said this was obvious from current statistics which showed that currently the iTaukei surveyed made up 75 percent of those living in poverty.

He said poverty reports in the early 1990s showed practically a balance in the number of Fijians and Indo-Fijians living in poverty.

Prisoner George Speight speaking to inmates in 2011 . . . he and his rogue gunmen seized then Prime Minister Mahendra Chaudhry and his government hostage in a 2000 crisis that lasted for 56 days. Image: Fijivillage News/YouTube screenshot

The former prime minister says it was obvious that the coups had done nothing to improve the quality of life of the ordinary indigenous iTaukei.

Instead, he said the coups had had a devastating impact on the entire socio-economic fabric of Fiji’s society, putting the nation decades behind in terms of development.

Chaudhry said the sorry state of Fiji today — “the suffering of our people and continued high rate of poverty, deteriorating health and education services, the failing infrastructure and weakened state of our economy” — were all indicators of how post-coup governments had failed to deliver on the expectations of the people.

He said: “It is time for us to rise above discredited notions of racism and fundamentalism and embrace progressive, liberal thinking.”

Chaudhry added that leaders needed to be judged on their vision and performance and not on their colour and creed.

Republished with permission from FijiVillage News.

2000 attempted coup leader George Speight with a bodyguard and supporters during the siege drama in May 2000. Image: Fijivillage News

Article by AsiaPacificReport.nz

MIL OSI Analysis – EveningReport.nz –

May 20, 2025
MIL-OSI Canada: Tuesday, May 20, 2025

Source: Government of Canada – Prime Minister

National Capital Region, Canada

1:00 p.m. The Prime Minister will convene and attend a Cabinet Planning Forum, where the government will advance its plans to build a stronger economy, strengthen Canada’s trade partnerships, bring down the cost of living, and keep communities safe.

Closed to media

MIL OSI Canada News –

May 20, 2025
MIL-OSI Australia: Strong demand and reduced domestic competition have contributed to significant earnings for Qantas Group and Virgin Australia

Source: Australian Ministers for Regional Development

Australia’s two largest airline groups have both recorded strong financial results for the first half of 2024-25, reflecting a number of factors including strong ongoing demand for flying and limited domestic competition, the ACCC’s latest Domestic Airline Competition report has found.

Qantas Group reported earnings before interest and taxes of $1.5 billion for the first half of 2024-25, with $916 million coming from its domestic operations across both Qantas and Jetstar.

Of the Qantas Group’s total earnings, Qantas Domestic, including Qantaslink, contributed the highest share of the group’s earnings at $647 million. Much of this result can be attributed to the airline’s dominance in the corporate travel market – Qantas Group had an 80 per cent share of the corporate travel market over the reporting period, coinciding with a resurgence in demand.

“The high half-yearly earnings reported by Qantas Group reflect its dominance of the domestic airline sector, with Qantas and Jetstar accounting for over 60 per cent of passengers,” ACCC Commissioner Anna Brakey said.

The domestic operations of Jetstar recorded the biggest increase in earnings across the Qantas Group, increasing by 53.7 per cent between the first half 2023-24 and 2024-25, to $269 million. Jetstar Domestic became the sole low-cost carrier in Australia after the exit of Tigerair in 2020, and again when Bonza collapsed in April 2024.

“Jetstar has been able to capitalise on the continued absence of competitive pressure from another low-cost carrier in the domestic market to increase its market share and operating margin,” Ms Brakey said.

While Virgin Australia does not publicly report half-year results, its then CEO, Jayne Hrdlicka, said in February that the airline group had achieved record profits in the first half of the current financial year, following its post-administration restructure under Bain Capital.

After the withdrawal of Rex from routes connecting capital cities, Virgin Australia has increased its share of passengers to 34.4 per cent in March 2025, up from 31.3 per cent from a year prior. Virgin Australia also secured three of Rex’s Boeing 737 aircraft leases, which has facilitated its ability to add seat capacity and improve network resilience.

Record passenger volumes in April following weather disruptions in March

Although the data was not yet available for this report, airlines and airports were expecting a significant increase in travellers in April with school holidays, Easter and ANZAC day all condensed into a three-week period. Airservices Australia noted that 17 April 2025 (the Thursday before Good Friday) was the busiest day for domestic travel in the past five years.

This follows disruptions to travel in March, when passenger levels declined by 4.9 per cent compared to March 2024, which can be attributed to Ex-Tropical Cyclone Alfred and associated severe weather events along the east coast of Australia.

Flights operating between Brisbane-Sydney and Brisbane-Melbourne experienced a 9.9 per cent and 9 per cent reduction in passengers in March 2025 respectively. Meanwhile, Gold Coast and Maroochydore airports experienced the biggest decline in passengers over this period by 30.2 per cent and 25.1 per cent respectively.

The weather disruptions also contributed to the average industry flight cancellation rate increasing significantly in March 2025 to 5 per cent, compared to the long-term industry average of 2.2 per cent.

Despite the disruptions caused by Ex-Tropical Cyclone Alfred, the on-time arrival rate has improved over the past six months to levels just below the long-term industry average of 80.7 per cent. The average industry on-time arrival rate was 80.2 per cent in March 2025, an improvement from 74.5 per cent in October 2024.

“It is encouraging to see the on-time arrival rate improving as this means travellers can have more confidence that their flight will arrive at the time they booked,” Ms Brakey said.

Seasonal patterns driving recent movements in airfares

Following a peak in October 2024, the average airfare fell by 16.1 per cent in the three months to January 2025, before increasing again by 9.6 per cent by March 2025.

“The trends observed in average airfares since January reflect seasonal factors and are broadly consistent with those observed in previous years,” Ms Brakey said.

“Average airfares have come down from their peak in October 2024.”

Demand for domestic air travel in the first quarter of 2025 was lower than 12 months prior. However, 2024 was a particularly unusual year by comparison due to significant events that led to unprecedented demand for flights to Melbourne and Sydney, such as the Taylor Swift concerts in February 2024, which in turn led to higher airfares as demand outstripped supply. The Easter long weekend also fell in March last year which contributed to the increase in demand for travel during this time.

Background

On 6 November 2023, the Treasurer directed the ACCC to recommence domestic air passenger transport monitoring. Under this direction the ACCC is to monitor prices, costs and profits relating to the supply of domestic air passenger transport services for a period of three years and to report on its monitoring at least once every quarter.

The ACCC collects data from Jetstar, Qantas, Rex and Virgin Australia for monitoring purposes.

Rex entered voluntary administration in July 2024 but continues to operate its regional services. The government is guaranteeing regional flight bookings for Rex customers throughout the voluntary administration process.

MIL OSI News –

May 20, 2025
MIL-OSI USA: One Big Beautiful Bill Is a Win for Hardworking Americans
Source: United States House of Representatives – Representative Mike Johnson (LA-04)

One Big Beautiful Bill Is a Win for Hardworking Americans

Middle Class Americans will benefit from substantial tax relief

Washington, May 19, 2025
WASHINGTON — The facts are in. Republicans’ One Big Beautiful Bill to deliver President Trump’s America First Agenda is a WIN for hardworking American families. From preventing the largest tax hike in U.S. history to eliminating taxes on tips and overtime, our One Big Beautiful Bill is transformative legislation that will provide tangible relief for American workers and unleash America’s economic revival.

One Big Beautiful Bill Provides Historic Tax Relief for Middle and Working Class Americans
- Democrats claim this legislation is just a tax break for the wealthy. That is a lie. The One Big Beautiful Bill makes permanent the 2017 Trump tax cuts, which gave the largest tax cut to low-income working families.
- The Council of Economic Advisers (CEA) found extending the Trump tax cuts will increase wages up to $11,600. The typical American family with two children will see their take-home pay INCREASE by up to $13,300 a year.
- On top of making the 2017 Trump tax cuts permanent, the One Big Beautiful Bill also eliminates taxes on tips and taxes on overtime. This will provide real relief for the over 80 million hourly workers and the four million Americans who work in tipped occupations.
- According to the CEA, tipped workers on average will see a pay increase of $1,675, and overtime workers will receive a tax cut up to $1,750 a year.
Our One Big Beautiful Bill Is a Generational Investment in the American Economy
- This legislation will be jet fuel for the American economy. According to the CEA, the One Big Beautiful Bill is projected to increase U.S. investment by up to 14.5% and GDP by up to 5.2% over four years.
- This economic revival will secure over 4 million more full-time equivalent jobs to unlock opportunity for the American worker. In our most distressed communities, $100 billion in investment will supercharge workforce development.
Overall, American workers will enjoy higher wages, higher take-home pay, more investment, and increased economic opportunity. And House Democrats are going to vote against all of it.

###
MIL OSI USA News –
May 20, 2025
MIL-OSI Africa: President Ramaphosa’s US visit to bolster strategic, mutually beneficial SA-US ties

Source: South Africa News Agency

By Dikeledi Molobela

Washington, D.C., United States – President Cyril Ramaphosa’s visit to Washington, D.C. is a significant and positive step in strengthening the strategic and mutually beneficial relationship between South Africa and the United States.

Speaking to SAnews ahead of the President’s arrival in the US capital, the Head of Public Diplomacy at the Department of International Relations and Cooperation (DIRCO), Clayson Monyela, underscored the importance of the visit.

Monyela expressed optimism that the upcoming meeting on Wednesday will provide an opportunity to address and clarify issues, thereby enhancing the relationship between the two nations.

“We want to appreciate the fact that there is an opportunity for the two leaders to engage. The fact that President Ramaphosa is here in Washington, D.C. accompanied by four Ministers to meet with President Trump and his delegation is a positive step for this important and strategic relationship between the two countries.

“This is a mutually beneficial relationship, and we believe that this platform avails an opportunity to explain, clarify and contextualise some of the issues that have been in the public domain.

“We look forward to the meeting on Wednesday because this will help in enhancing this important relationship between us and the United States,” Monyela said on Monday.

Describing the US as South Africa’s second-largest trading partner, Monyela emphasised that the two countries have been strategic partners for many years.

“This is an important meeting between two countries that have been strategic partners for many years in a mutually beneficial relationship.

“The US is our second biggest trading partner. We run the most diverse, powerful, number one economy on the African continent, currently holding the Presidency of the G20, so this is an important platform for the two countries to come together and talk about matters that will enhance the existing strong and cordial ties between the two countries to the benefit of the people of the two nations.

“Of course, there are issues that need to be explained and clarified but at the end, we are quite confident that this platform will help us get closer and keep moving forward as strategic partners, and enhance the mutually beneficial relationship,” he said.

Monyela highlighted the reciprocal nature of economic relations between the two nations, noting that South Africa is not only a trading partner but also an investor in the US economy.

“We also invest in the US economy. South African companies such as Nando’s are operating there. If you go to Louisiana, you will find many US nationals employed by South African companies,” he said.

“We come to this meeting not as a country that offers nothing to the table. This is why it is important to enhance the existing relations between the two countries because they are indeed mutually beneficial,” Monyela said.

President Ramaphosa will meet with his US counterpart President Donald Trump at the White House on Wednesday. – SAnews.gov.za

MIL OSI Africa –

May 20, 2025

MIL-OSI Russia: Financial news: Deposit auction of JSC “KAVKAZ.RF” will be held on 20.05.2025

Translation. Region: Russian Federal

Source: Moscow Exchange – Moscow Exchange –

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

HTTPS: //VVV. MOEX.K.M.M.

Categories24-7, Mil-SOSI, Moscow, Moscow Stock Exchange, Russian Economy, Russian Federal, Russian Language, Russian economy

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Parameters
Date of the deposit auction	05/20/2025
Placement currency	Rub
Maximum amount of funds placed (in placement currency)	189 760 000.00
Placement period, days	15
Date of deposit	05/21/2025
Refund date	05.06.2025
Minimum placement interest rate, % per annum	20.40
Conditions of imprisonment, urgent or special	Urgent
Minimum amount of funds placed for one application (in placement currency)	189 760 000.00
Maximum number of applications from one Participant, pcs.	1
Auction form, open or closed	Open
Basis of the Treaty	General Agreement

Schedule (Moscow time)
Preliminary applications	from 10:00 to 10:10
Applications in competition mode	from 10:10 to 10:15
Setting a cut-off percentage or declaring the auction invalid	until 10:25

Additional terms

MIL OSI Russia News –

May 20, 2025

MIL-OSI USA: Katherine Reilly Named SEC Acting Inspector General

Source: Securities and Exchange Commission

The Securities and Exchange Commission today announced the appointment of Katherine Reilly as the agency’s Acting Inspector General. Ms. Reilly is currently serving as a Deputy Inspector General at the SEC. She replaces Deborah Jeffrey, who has served as the SEC’s Inspector General since 2023 and is retiring.

“Our Inspector General’s office champions transparency and seeks to root out redundancy and overlap to ensure our agency is running as efficiently and effectively as possible,” said SEC Chairman Paul S. Atkins. “Katherine possesses the experience and expertise to continue these oversight efforts. We also thank Deb for her leadership and dedication in this area during these past two years.”

Prior to her arrival at the SEC, Ms. Jeffrey served as inspector general at AmeriCorps for 11 years after working in the private practice of law for 25 years. She holds degrees from Johns Hopkins University and Harvard Law School, where she served as Editor-in-Chief of the Harvard Civil Rights-Civil Liberties Law Review.

Ms. Reilly joined the SEC’s Office of Inspector General in 2020 as Counsel to the Inspector General. She later served as Acting Inspector General in a rotating role prior to Ms. Jeffrey’s arrival and served as the Acting Deputy Inspector General for Investigations from December 2022 to March 2025.

Ms. Reilly began her career as an antitrust lawyer at the Federal Trade Commission before transitioning to private practice in the field of antitrust and commercial litigation. She joined the U.S. Postal Service Office of Inspector General (USPS-OIG) in 2005 and ascended to become Director of Legal Services before leaving in 2013 to join the U.S. Department of Justice Executive Office for Immigration Review, where she served in the roles of Chief Counsel for Employee and Labor Relations as well as Deputy Director. In June 2019, Ms. Reilly returned to the USPS-OIG as Deputy Assistant Inspector General for Mission Support.

Ms. Reilly is a graduate of The University of Texas at Austin, where she earned her Bachelor of Arts and Juris Doctorate degrees. Ms. Reilly also has a Master of Laws degree from The University of Melbourne, Australia.

The SEC’s Office of Inspector General is an independent unit that promotes the integrity, efficiency, and effectiveness of the SEC’s critical programs and operations through rigorous and objective oversight.

Under the Inspector General Act of 1978, inspectors general have a dual and independent reporting relationship to the Commission and Congress. Appointments are made without regard to political affiliation and solely on the basis of integrity and demonstrated ability in accounting, auditing, financial analysis, law, management analysis, public administration, or investigations.

MIL OSI USA News –

May 20, 2025
MIL-OSI USA: Making Colorado Safer: Governor Polis Signs Bills to Strengthen Public Safety, Save Coloradans and Businesses Money on Energy, Increase Access to Healthcare, Support Advanced Industries
Source: US State of Colorado

COLORADO SPRINGS/PUEBLO – Today, Governor Polis signed bills into law in Colorado Spring and Pueblo to make Colorado safer by strengthening public safety, save Coloradans and businesses money on energy, expand access to the healthcare needed to thrive, support Colorado’s advanced industries, and more.

At the Pueblo Chamber of Commerce, Governor Polis signed HB25-1171 – Possession of Weapon by Previous Offender Crimes, sponsored by Representatives Shannon Bird and Andrew Boesenecker, and Senators Nick Hinrichsen and Dafna Michaelson Jenet.

“Today, we are taking important steps to make Colorado one of the top ten safest states in the nation. From now on anyone convicted of first degree motor vehicle theft ineligible to possess a firearm, keeping guns out of the wrong hands and protecting our communities. I am proud of our work to improve public safety in Colorado, and with this bill signed into law, I look forward to continuing our bold progress to protect Coloradans and our communities,” said Governor Polis.

Governor Polis also signed the bipartisan HB25-1177 – Utility Economic Development Rate Tariff Adjustments, sponsored by Representatives Tisha Mauro and Ty Winter and Senators Nick Hinrichsen and Byron Pelton.

“In Colorado, utility rates remain below the national average, and this new bipartisan law will help reduce costs, saving Coloradans and businesses money on energy. This law will provide utilities and businesses the certainty needed to secure new investment, help lower electricity costs, and allow communities and businesses to plan for the future, all while advancing our climate goals, continuing embracing new money-saving clean energy, and protecting our clean air,” said Governor Polis.

Governor Polis also signed SB25-008 – Adjust Necessary Document Program sponsored by Senators Nick Hinrichsen and Cathy Kipp and Representative Meg Froelich.

Then, Governor Polis visited SkyView Middle School, one of Colorado’s 2024 National Blue Ribbon Award Winning schools. With today’s visit, Governor Polis has visited all four Colorado Blue Ribbon schools. Governor Polis previously visited Mesa View Elementary School in Grand Junction, DSST: Cedar Ridge High School in Denver, and Zach Elementary School in Fort Collins.

“Providing every Colorado student with a high-quality education at every level of K-12 education is important for students’ futures, our workforce, and economy. I was honored to visit SkyView Middle School to celebrate its well-deserved national recognition as a blue ribbon school, and learn about how successful strategies at SkyView can help other schools across Colorado,” said Governor Polis.

Later this afternoon, Governor Polis will sign the bipartisan HB25-1184 – Community-Based Continuing Care for Seniors, sponsored by Representatives Amy Paschal and Anthony Hartsook and Senators Dylan Roberts and John Carson.

“In a Colorado For All, every Coloradan, no matter your age or ability, should have access to the care you need when you need it. Thanks to this law, Coloradans awaiting admission to supportive living facilities will not need to wait before receiving necessary care. By expanding access to the care seniors need, we are ensuring that Colorado is the best state for anyone to live out their golden years,” said Governor Polis.

Governor Polis will also sign the bipartisan HB25-1157 – Reauthorize Advanced Industries Tax Credit, sponsored by Representatives Brianna Titone and William Lindstedt, and Senators Marc Snyder and Mark Baisley.

“Colorado is a state of innovators, leading the way in the cutting-edge emerging technologies of the future. Advanced industries support hundreds of thousands of good-paying jobs, find solutions in every sector from transportation to health care and agriculture, and are leading the way. These tax credits will ensure that our advanced industries continue to drive our innovation and economy,” said Governor Polis.

Governor Polis will also sign the following bipartisan bills:
- HB25-1270 – Patients’ Right to Try Individualized Treatments, sponsored by Representatives Rose Pugliese and Lindsay Gilchrist and Senators Barbara Kirkmeyer and Lindsey Daugherty
- SB25-116 – Spousal Maintenance Guidelines sponsored by Senators Marc Snyder and Lisa Frizell and Representatives Monica Duran and Ryan Armagost
###

MIL OSI USA News –
May 20, 2025
MIL-OSI United Kingdom: UK and Ukraine hail scientists’ role in the fight for freedom
Source: United Kingdom – Executive Government & Departments

Press release

UK and Ukraine hail scientists’ role in the fight for freedom

From healthcare to energy, collaboration with UK researchers is supporting Ukraine’s defence and reconstruction, and the UK’s Plan for Change.
From healthcare to energy, collaboration with UK researchers is supporting Ukraine’s defence and reconstruction, and the UK’s Plan for Change

Academic, business and political leaders gather in London later today to celebrate UK-Ukrainian joint science endeavours – and look ahead to more

Science, tech and innovation are a key pillar of UK-Ukraine 100 Year Partnership: the long-term pact to support long-term security and growth for both our countries

The critical role that Ukraine’s scientists and researchers are playing in the battle for their country’s freedom, and its hopes for a brighter future, working hand-in-hand with UK colleagues, will be celebrated at an event at the British Academy in London later today (Tuesday 20 May).

The UK is resolute in its support for Ukraine, as the country defends itself in the face of Russia’s illegal and barbaric invasion. Our backing is cemented by the landmark 100 Year Partnership, unveiled by the Prime Minister and President Zelenskyy in January, of which strong and deep science and technology ties form a key part.

Joint work by the UK and Ukraine’s researchers is not only supporting Ukraine’s freedom and future, but also unlocking benefits to the UK economy, and more besides, all of which bolsters the Plan for Change. In one joint project, on health, the University of Warwick have worked with Kharkiv National University of Radio Electronics to train AI models to quickly and accurately triage shrapnel wounds. And work by Manchester, Aston and Aberystwyth Universities and Ukrainian experts to boost Ukraine’s electricity grid with green energy, is also being applied to help Britain adapt as we get more energy from renewables, and as energy-intensive industries like data centres grow.

Meanwhile efforts like the UK-Ukraine Techbridge are helping bring innovative new technologies to bear on critical tasks like clearing landmines and unexploded bombs. The TechBridge is also focused on AI, health, cyber security, education, and agritech, and is building opportunities in both countries for trade, upskilling, and investment.

Much of this important work will be showcased at London’s historic British Academy later, at an event hosted by the UK’s Science Minister and Ukraine’s Deputy Minister for Education and Science, who will be joined by a host of academic, business and research leaders. Lord Vallance will announce an additional £100,000 for the UK-Ukraine Techbridge at the event, as well as £400,000 for trilateral efforts to harness digital technologies to improve government across the UK, Ukraine and Estonia.

UK Science Minister Lord Vallance said:

Freedom is an essential ingredient for scientific progress. Without it we are denied the ability to act on the curiosity that sparks so many breakthroughs, or to get the answers that make us think that maybe we have been wrong about the way we have thought about something in the past.

Science is also international, which means that Ukraine’s inventions and innovations are ones that the UK and the entire world ultimately benefits from, and vice versa. We only stand to gain from working with Ukraine to keep the flame of freedom alive, and it is only natural, that the joint endeavours of our researchers, are critical to those efforts.

Ukraine’s Minister for Education and Science, Oksen Lisovyi, said

For Ukraine, science is not only about development — it is also about resistance. Today, our researchers are working side by side with international partners not only to support the country in its most difficult times, but also to lay the foundations for recovery. This collaboration is a mutual investment in freedom, humanity, and the future. We are grateful to the United Kingdom for a partnership built on shared values and trust.

The UK-Ukraine partnership on science, innovation and technology has already delivered important work, starting with the:

Researchers at Risk delivered by the British Academy,

Council for At-Risk Academics (CARA) and

wider UK National Academies

Since it was launched in 2022, it has helped over 170 Ukrainian experts endangered by the war to relocate to just under 70 UK universities, and continue their work on a temporary basis – as well as funding their research with £22.5 million. The UK Government has also supported the UK-Ukraine Twinning Initiative, which has enabled Ukrainian researchers to keep making progress, despite wartime disruption, by pairing up UK and Ukrainian universities. This has provided remote access to UK facilities and equipment, and avenues for joint funding, including £5 million of Research England grant funding to support new research partnerships.

We are also harnessing the AI, data science and digital expertise of the UK, Ukraine and Estonia with a view to enhancing digital government and public services through technology and innovation under an initiative on trilateral cooperation.

DSIT media enquiries

Email press@dsit.gov.uk

Monday to Friday, 8:30am to 6pm 020 7215 3000

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Published 20 May 2025
MIL OSI United Kingdom –
May 20, 2025
MIL-OSI USA: Murray, Kaptur Call for Energy Department to Reverse New, Expanded Caps on Indirect Research Costs
US Senate News:
Source: United States Senator for Washington State Patty Murray

ICYMI: Murray, Kaptur call for reversal of arbitrary cap on DOE-funded research—a policy already blocked in federal court for university grants

Washington, D.C. — Today, Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee and Ranking Member of the Subcommittee on Energy and Water Development, and Congresswoman Marcy Kaptur (D-OH-09), Ranking Member of the House Appropriations Subcommittee on Energy and Water Development, sent a letter to Department of Energy (DOE) Secretary Chris Wright expressing deep concern about the Department’s recently announced caps on indirect costs for DOE research for a variety of recipients. The new caps, which follow the Department’s previously announced arbitrary cap on indirect costs for research at universities, will jeopardize critical research and innovation—and Murray and Kaptur call for the immediate reversal of the policy.

“We write in response to the Department of Energy’s (DOE) decision to impose sweeping new caps on indirect cost rates across a wide spectrum of its funding recipients—including state and local governments, non-profit organizations, and for-profit partners,” write Murray and Kaptur. “Capping indirect cost rates far below their current values compounds the detrimental policy you have already announced cutting funding for university-led research, and these proposed cuts put energy innovation and economic development in communities across the country at serious risk.”

The lawmakers note the policy will disproportionately hurt smaller research institutions: “Ultimately, this policy threatens to prevent smaller, under-resourced organizations from getting the support they need to conduct cutting-edge research, which will stifle innovation in regions that need investment the most.”

“If left to stand, the consequences of these cuts will be severe: multi-sector collaboration will be chilled, community-led innovation efforts across the US will be disrupted, and thousands of jobs supporting energy and infrastructure will be at risk. This abrupt policy change will undercut the very institutions—state and local governments, non-profits, and research organizations—that drive energy innovation, workforce development, and clean energy solutions in local communities,” Murray and Kaptur write.

They conclude by calling for an immediate reversal of the policies and demanding answers on how the Department determined the caps, whether it consulted with stakeholders, and whether it considered the economic consequences.

The full letter is available HERE and below:

The Honorable Christopher Wright
Secretary of Energy
U.S. Department of Energy
1000 Independence Avenue, SW
Washington, DC 20585

Dear Secretary Wright,

We write in response to the Department of Energy’s (DOE) decision to impose sweeping new caps on indirect cost rates across a wide spectrum of its funding recipients—including state and local governments, non-profit organizations, and for-profit partners. While direct costs support salaries, supplies, and equipment, indirect costs provide essential support for general operations and infrastructure. Capping indirect cost rates far below their current values compounds the detrimental policy you have already announced cutting funding for university-led research, and these proposed cuts put energy innovation and economic development in communities across the country at serious risk. Like so many actions your Department has already taken, these new cuts will also raise energy costs for American families and businesses.

By imposing an arbitrary, inflexible cap of 10 or 15% on indirect costs—regardless of organizational type, mission, or financial structure—the Department is undermining the ability of its grantees and partners to deliver on DOE’s core priorities. Ultimately, this policy threatens to prevent smaller, under-resourced organizations from getting the support they need to conduct cutting-edge research, which will stifle innovation in regions that need investment the most. These indirect cost caps disregard the essential infrastructure required to administer safe, scalable, and high-impact projects.

Local governments and non-profits, already stretched thin, now face arbitrary limitations that will squash efforts to fortify electricity grids to be robust to storms and other disruptions, initiatives to ensure all community members can access affordable and reliable energy, and emerging technology deployment at the local level.

If left to stand, the consequences of these cuts will be severe: multi-sector collaboration will be chilled, community-led innovation efforts across the US will be disrupted, and thousands of jobs supporting energy and infrastructure will be at risk. This abrupt policy change will undercut the very institutions—state and local governments, non-profits, and research organizations—that drive energy innovation, workforce development, and clean energy solutions in local communities. America’s energy future must be built on strong partnerships—not policies that penalize those on the front lines of progress.

These abrupt changes have been announced without the transparency you have promised, without public engagement, and without any meaningful justification. Worse, they appear to ignore the diverse cost structures and compliance burdens that entities must absorb to responsibly manage federal funds. These are not “wasteful” administrative expenses—they are essential costs of conducting federally sponsored research that benefits the American people.

We reiterate our call to immediately reverse these harmful caps, urge you to engage stakeholders and experts in crafting any future reforms, and request written responses to the following questions by no later than May 30:
1. What will happen to existing (conditional and nonconditional) awards if they do not meet the new terms and conditions in this policy?
2. What data and models did DOE use to conclude that a uniform 10 or 15% cap would be sufficient and sustainable across such varied institutional types (e.g., local governments, non-profits, for-profits)? Will DOE release this analysis publicly?
3. How does DOE justify this cap given that many organizations and governments currently operate with indirect cost rates significantly higher than the new proposed cap?
4. How does DOE reconcile these cost caps with existing negotiated indirect cost rates under OMB Circulars and 2 CFR 200, particularly where they exceed the new ceilings?
5. What outreach or consultation—if any—did DOE undertake with non-profit, municipal, or private-sector stakeholders prior to issuing these policy changes?
6. What specific exemptions, waivers, or appeal mechanisms will DOE make available for awards where capped indirect costs would result in program delays, layoffs, or funding shortfalls?
7. Has DOE assessed the potential regional economic and workforce consequences of capping indirect costs on state, local, and non-profit implementation partners? If so, will DOE release that analysis publicly?
We look forward to your responses and attention to this critical issue.

Sincerely,
MIL OSI USA News –
May 20, 2025
MIL-OSI USA: Ricketts Introduces the SNAP Next Step Act

US Senate News:

Source: United States Senator Pete Ricketts (Nebraska)

WASHINGTON, D.C. – Last week, U.S. Senator Pete Ricketts (R-NE) introduced the SNAP Next Step Act. Senator Kirsten Gillibrand (D-NY) joined the bill as the leading Democrat co-sponsor. The bill would authorize the use of Supplemental Nutrition Assistance Program (SNAP) funds for employment and training activities under the Workplace Innovation and Opportunity Act. The bill was modeled after asuccessful State of Nebraska program initiated when Ricketts was Governor.

“SNAP Next Step worked in Nebraska and will help workers across America on the path to a stable financial situation,” said Senator Ricketts. “When I was governor, this program helped workers find better employment. It helped increase monthly income. And it reduced or eliminated their need for government assistance. I am eager to work with my colleagues to make this proven Nebraska solution a reality for workers across America.”

The text of the bill is available here.

BACKGROUND:

The SNAP Next Step Act assists SNAP beneficiaries in pursuing better job and career opportunities through services like job search coaching, interview preparation, and resume writing. This legislation adds no new costs to taxpayers. It would allow already available SNAP administrative funds to be utilized in enrolling SNAP recipients in Department of Labor Workforce Innovation and Opportunity Act Programs. The bill also urges states to develop benefits calculators that show participants the real-world impacts of increased wages on eligibility for all government assistance programs.

In 2016, then-Governor Ricketts’ administration implemented SNAP Next Step. Since then, SNAP Next Step has helped hundreds of Nebraska families find new employment and more predictable hours, allowing them to spend more time together as a family. They’ve also increased their monthly income by more than $2,100. About 60% of these families no longer rely on state food assistance and the other 40% have reduced their need for SNAP benefits.

MIL OSI USA News –

May 20, 2025
MIL-OSI USA: PRESS RELEASE: DEMOCRATIC STEERING AND POLICY COMMITTEE CO-CHAIRS REP. BARRAGÁN, WASSERMAN SCHULTZ, AND KELLY HOLD HEARING ON IMPACT OF TRUMP TARIFFS ON SMALL BUSINESSES

Source: United States House of Representatives – Representative Nanette Diaz Barragán (CA-44)

FOR IMMEDIATE RELEASE:

May 8, 2025

Contact: Jin.Choi@mail.house.gov

DEMOCRATIC STEERING AND POLICY COMMITTEE CO-CHAIRS REP. BARRAGÁN, WASSERMAN SCHULTZ, AND KELLY HOLD HEARING ON IMPACT OF TRUMP TARIFFS ON SMALL BUSINESSES

Washington, DC – Today, the House Democratic Steering & Policy Co-Chairs, Congresswomen Nanette Barragán (CA-44), Debbie Wasserman Schultz (FL-25), and Robin Kelly (IL-02) led a hearing on the impacts of the Trump Administration’s policies and tariffs on U.S. small businesses. The committee heard from small business owners on how Republican schemes raise their costs and make it difficult to budget, plan, or make ends meet due to rampant federal instability, cutbacks, and tariff threats.

House Democratic Leader Hakeem Jeffries, Democratic Whip Katherine Clark, and Democratic Caucus Chair Pete Aguilar attended the hearing and said Democrats would marshal legislative, legal and community opposition to Republican policies that stifle Main Street merchants and strangle smaller entrepreneurs.

“Small businesses are essential to our economy — they power our communities, create jobs, and make the American Dream possible. But Donald Trump’s reckless tariffs are punishing the very people who keep our economy running. They’re forcing small business owners across the country to make impossible choices — raise prices or shut their doors,” said Rep. Barragán. “When prices go up, working families pay the price. These destructive Republican economic policies do nothing to strengthen our economy, they only lead to job losses and businesses closing their doors.”

“Donald Trump and Republicans, who continue in this Congress to rubber stamp his extreme agenda, are crashing the economy in real time, driving us toward a recession. Why? So that they can provide tax breaks for their billionaire donors like Elon Musk, instead of supporting small businesses,” said Leader Jeffries. “They are knowingly inflicting economic pain on hard-working entrepreneurs and small business owners. It’s unconscionable, unacceptable, and un-American. House Democrats will not quietly stand by while working families, entrepreneurs, middle-class folks, small business owners and everyday Americans are being forced to suffer at the hands of the extreme policies that are being unleashed on the American people. We will continue to push back publicly and aggressively.”

“Small business owners and entrepreneurs keep America’s economy thriving and make life better for their customers and workers,” said Wasserman Schultz. “But Trump’s extreme economic policies have created a chaotic, confusing landscape for small businesses, with huge price hikes and a horizon filled with uncertainty, higher costs and recessionary fears.”

“Small businesses create good jobs and drive innovation — they are they backbone of local economies,” said Kelly. “We heard directly from small business owners who are telling President Trump that his short-sighted tariffs have raised costs and created uncertainty. Simply put, Americans — small business owners, workers, and consumers alike — will pay the cost of President Trump’s trade war at the check-out counter.”

This year, the Steering & Policy Committee has held hearings on Medicaid, SNAP, Social Security and Veterans. Each one shared personal stories of how everyday Americans are being harmed by this administration. To continue to collect and share more of their stories, the Steering & Policy Committee will execute a series of events across the nation in the months ahead to reach the American people where they live and hear from them directly.

The full video of today’s hearing can be found here.

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MIL OSI USA News –

May 20, 2025
MIL-OSI USA: PRESS RELEASE: Congresswoman Barragán Leads Congressional Letter Opposing Trump Administration’s Semiconductor Tariff Proposal

Source: United States House of Representatives – Representative Nanette Diaz Barragán (CA-44)

FOR IMMEDIATE RELEASE
May 8, 2025

Contact: Jin.Choi@mail.house.gov

Congresswoman Barragán Leads Congressional Letter Opposing Trump Administration’s Semiconductor Tariff Proposal

Washington, D.C. – Yesterday, Congresswoman Nanette Barragán (CA-44) led a group of her Democratic colleagues on the House Communications and Technology Subcommittee in calling on President Donald Trump and Commerce Secretary Howard Lutnick to abandon proposals to impose sweeping tariffs on the semiconductor industry.

The letter, signed by House Communications and Technology Subcommittee Ranking Member Doris Matsui and subcommittee members Greg Landsman and Jennifer McClellan, warns that the proposed tariffs would increase costs for consumers, disrupt American manufacturing, undermine U.S. competition, and strain relationships with key international allies—all without achieving the stated goal of boosting domestic production.

“These tariffs will increase the cost of essential technologies like smartphones, laptops, and broadband equipment, and will act as a direct tax on American consumers,” wrote the group of Democratic lawmakers. “The result: reduced productivity, limited access to essential tools, and slower economic growth.”

“Rather than resorting to punitive trade measures that risk backfiring economically and geopolitically, the United States should double down on policies that support domestic semiconductor production and strengthen our long-term competitiveness,” they continued. “We urge you to abandon these ill-conceived tariff plans and instead work with Congress, industry leaders, and international allies to bolster American innovation, secure our supply chains, and build a technology economy that serves American workers and consumers.”

The full text of the letter can be found here and below.

President Trump and Secretary Lutnick:

We have serious concerns with your reported plans to impose sector-specific tariffs on semiconductor products, including chips, telecommunications equipment, and consumer electronics. These tariffs would raise prices for consumers, disrupt American manufacturing, and damage our nation’s global competitiveness—all while failing to meaningfully strengthen national security or domestic production.

These tariffs will increase the cost of essential technologies like smartphones, laptops, and broadband equipment, and will act as a direct tax on American consumers. The result: reduced productivity, limited access to essential tools, and slower economic growth.

The United States currently lacks the capacity to rapidly relocate large-scale technology manufacturing to our country. Structural challenges—including a shortage of workers trained in high-tech manufacturing and underdeveloped semiconductor infrastructure—make such a transition unrealistic in the short term. Tariffs will not solve these issues and could instead deepen them by inflating costs, discouraging investment, and weakening the long-term position of the United States technology industry.

The ongoing uncertainty surrounding this tariff plan has already disrupted financial markets and injected instability into critical sectors of our economy. The technology industry depends on predictable, long-term policy—not abrupt changes that create confusion for investors, suppliers, and businesses.

These tariffs could also provoke diplomatic fallout with some of our most trusted allies. Taiwan, South Korea, Japan, and Malaysia are potential targets for these tariffs. These are all vital partners in our technology supply chains and unnecessary tariffs could jeopardize the resilience of our supply chains and the strategic alliances that have long supported American leadership in innovation.

Additionally, a disruption to American technology imports from allied nations could undermine the Federal Communication Commission’s efforts to implement the Secure and Trusted Networks Reimbursement (“Rip and Replace”) Program. Rip and Replace, which has received strong bipartisan, bicameral support in Congress, strengthens our national security by supporting providers who are working to replace insecure network equipment from Chinese vendors like Huawei and ZTE, while simultaneously maintaining network connectivity for consumers across the country. By disrupting global supply chains and raising the overall cost of replacing network infrastructure, the proposed tariffs could needlessly strain the Rip and Replace program’s budget and delay program implementation.

The consequences of supply chain disruptions would also be particularly acute in the race to deploy 5G infrastructure and to lead in artificial intelligence. Access to cutting-edge components is essential to maintaining leadership in 5G, as well as in AI development. Disrupting access to these components would not only slow American progress but would also give China an unnecessary—and avoidable—strategic advantage.

We are especially alarmed by reports that these tariffs will be enacted under Section 232 of the Trade Expansion Act of 1962, a provision designed to protect national security. This seems incompatible with the imposition of tariffs that damage alliances and delay technological innovation – that would in fact compromise our national security. As the Department of Defense made clear in its 2022 report Securing Defense-Critical Supply Chains, disruptions to allied supply lines—particularly in microelectronics—pose a direct threat to military readiness.

Rather than resorting to punitive trade measures that risk backfiring economically and geopolitically, the United States should double down on policies that support domestic semiconductor production and strengthen our long-term competitiveness. Congress passed the CHIPS and Science Act precisely for this purpose—to revitalize American semiconductor manufacturing, create high-quality union jobs, and reduce our dependence on foreign supply chains, especially those vulnerable to authoritarian influence or geopolitical instability.

We urge you to abandon these ill-conceived tariff plans and instead work with Congress, industry leaders, and international allies to bolster American innovation, secure our supply chains, and build a technology economy that serves American workers and consumers.

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MIL OSI USA News –

May 20, 2025
MIL-OSI: Advantage Solutions supports St. Louis in wake of tornado devastation

Source: GlobeNewswire (MIL-OSI)

ST. LOUIS, May 19, 2025 (GLOBE NEWSWIRE) — Advantage Solutions Inc. (NASDAQ: ADV) announced today it will provide support to The Urban League of Metropolitan St. Louis following the recent tornadoes that caused widespread destruction in the region, including significant damage to the League’s headquarters.

In alignment with its commitment to build stronger, more resilient communities, Advantage will donate $25,000 to the Urban League’s emergency relief efforts and is mobilizing a team of employees to help with on-the-ground cleanup and recovery efforts.

“Our hearts are with the entire St. Louis community, and especially with our partners at the Urban League. Despite suffering their own major losses, they’re once again stepping up to serve their neighbors in need,” said Advantage Solutions CEO Dave Peacock. “In times of crisis, we believe businesses must act with urgency and compassion. That’s why we’re expanding our support and calling on others to do the same.”

In addition to the community at large, Advantage is committed to supporting its own teammates impacted by the disaster. Eligible teammates can apply for grants through the company’s Associate Support Fund, which provides financial assistance for those affected by natural disasters and other unexpected hardships. Additionally, all teammates have access to the Employee Assistance Program, which offers 24/7 support from trained advocates who can help assess needs, develop solutions, and connect individuals to valuable resources.

Advantage’s support of the Urban League builds on a multi-year partnership that includes its Save Our Sisters Fund, which provides holistic wraparound services — including employment, education, rental, mortgage and utility assistance — for women from all walks of life to help them reach their full potential.

To learn more about the Urban League’s recovery efforts or to make a contribution, visit www.ulstl.com.

About Advantage Solutions

Advantage Solutions is the leading omnichannel retail solutions agency in North America, uniquely positioned at the intersection of consumer-packaged goods (CPG) brands and retailers. With its data- and technology-powered services, Advantage leverages its unparalleled insights, expertise and scale to help brands and retailers of all sizes generate demand and get products into the hands of consumers, wherever they shop. Whether it’s creating meaningful moments and experiences in-store and online, optimizing assortment and merchandising, or accelerating e-commerce and digital capabilities, Advantage is the trusted partner that keeps commerce and life moving. Advantage has offices throughout North America and strategic investments and owned operations in select international markets. For more information, please visit YourADV.com.

About the Urban League of Metropolitan St. Louis

The mission of the Urban League of Metropolitan St. Louis, Inc. is to empower African Americans and others throughout the region in securing economic self-reliance, social equality, and civil rights. As the leading champion of empowerment and opportunity for African Americans, the Urban League of Metropolitan St. Louis envisions a region where all people are valued members of the community; can adequately support themselves and their families; live in the neighborhoods that are vibrant and thriving; and share in the region’s prosperity and well-being.

Investor Contact:
Ruben Mella
ruben.mella@youradv.com

Media Contact:
Jeffrey Levine
corp.comm@youradv.com

The MIL Network –

May 20, 2025
MIL-OSI: Lightning-Fast Speeds, Massive Capacities: Crucial SSDs Elevate Gaming and Creative Endeavors
Source: GlobeNewswire (MIL-OSI)
- The Crucial T710 sets a new standard with unparalleled Gen5 performance for pro gamers and creators.
- The Crucial X10 portable SSD combines sleek style, functional durability and storage options up to 8TB.
TAIPEI, Taiwan, May 19, 2025 (GLOBE NEWSWIRE) — Today at Computex 2025, Micron Technology, Inc. (Nasdaq: MU) expanded its leadership in consumer storage by unveiling its latest high-performance SSDs — the Crucial T710 PCIe Gen5 NVMe SSD and the Crucial X10 Portable SSD. Forged from years of dedicated research and development, these next-gen SSDs redefine performance standards across the board by pushing the limits of speed, capacity and durability — powering your world at full speed.

“Our fastest Gen5 drive yet, the Crucial T710 SSD turbocharges gaming and creative applications,” said Dinesh Bahal, corporate vice president and general manager of Micron’s Commercial Products Group. “Meanwhile, our X10 portable drive is a powerhouse, effortlessly handling massive backups, games and photo libraries — no matter where life takes you or what it throws your way. These innovations from Crucial underscore our relentless effort to exceed our customers’ storage needs.”

A Media Snippet accompanying this announcement is available by clicking on this link.

Crucial T710: Blazing fast Gen5 speed for gaming and AI

Leveraging cutting-edge NVMe technology and Micron’s G9 NAND, the Crucial T710 delivers unmatched Gen5 performance for pro-level gaming, creative applications and data-intensive tasks like AI. Boasting our best Gen5 speeds to date, it features up to:
- 14,900 megabytes per second (MB/s) sequential read speeds¹
- 13,800 MB/s sequential write speeds¹
- 2.2 million random read speeds¹
- 2.3 million random write speeds ¹
The T710 delivers up to 67% more IOPs per watt than previous-generation Gen5 drives, running faster and cooler and making it ideal for PCs, laptops and workstations. The optional integrated heatsink ensures the T710 stays cool under pressure and capacity options up to 4TB² means users have the storage space they need for their most demanding projects.

The increasing demands of AI applications require robust hardware for optimal performance. With its dramatically increased energy efficiency and decreased latency, the Crucial T710 is perfect for enabling real-time local data processing on AI PCs, with the speed to load a large language model from SSD to memory in under one second.³

Crucial X10: Fast and tough portable storage to expand your digital life

Crucial’s latest portable drive, the X10, delivers read speeds of up to 2,100 MB/s,⁴ twice as fast as its predecessor.⁵ The X10 is designed for users who need a fast, reliable and durable solution to back up and store their most important photos, games, movies, documents and more. With 4TB, 6TB and 8TB⁶ versions available, the Crucial X10 allows users to store massive amounts of data, including up to 500,000 4K photos, 114 games or 2.6 million MP3 files⁷.

With its sleek, matte blue design, the X10 is perfect for content creators, gamers, photography hobbyists and mainstream consumers who require high-speed data transfer and ample storage capacity. Its durable design is IP65 dust- and water-resistant and drop-resistant up to 9.8 feet,⁸ making it a vault for your data — secure, portable and always ready.

The T710 uses Silicon Motion’s SM2508 controller, while the X10 uses the SM2322 controller.

“To meet the evolving demands of next-generation AI PCs, we’ve engineered our industry-leading SM2508 controller to deliver game-changing Gen5 performance combined with significant power savings compared to competitors,” said Nelson Duann, senior vice president of Silicon Motion’s Client & Automotive Storage Business. “Our close technical collaboration with Micron to turbocharge the Crucial T710 will transform the latest notebooks with extreme Gen5 performance that meets the needs of intensive applications like AI, gaming and beyond.”

Availability: The Crucial X10 is now available for purchase through etailers, retailers and global channel partners, while T710 will be available starting in July 2025.

Additional Resources:

About Micron Technology, Inc.

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

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

¹ Typical I/O performance as measured using CrystalDiskMark® with a queue depth of 512 and write cache enabled. Windows 11 Core isolation disabled for performance measurement. Fresh out-of-box (FOB) state is assumed. For performance measurement purposes, the SSD may be restored to FOB state using the secure erase command. System variations will affect measured results.

² Some storage capacity is used for formatting and other purposes and is not available for data storage. 1GB equals 1 billion bytes.

³ As tested in Micron labs using Llama 2 with 13 billion parameters,10.4GB file size and 6-bit quantization vs. the PCIe Gen4 Micron 3500 SSD.

⁴ MB/s speed measured by Crucial as maximum sequential performance of device on a high-performance desktop computer with Crystal Disk Mark (version 8.0.4 for x64). Your performance may vary.

⁵ Comparative speed claims measured against maximum reported speeds from Crucial X9 SSD. Your performance may vary.

⁶ Some storage capacity is used for formatting and other purposes and is not available for data storage. 1GB equals 1 billion bytes.

⁷ Based on average photo size of 6MB, video at 4K/60fps in H264 format at 24GB/hr and 200GB for AAA games.

⁸ Up to 3 meters without impact to data on a carpeted floor.

The MIL Network –
May 20, 2025

MIL-OSI: Qifu Technology Announces First Quarter 2025 Unaudited Financial Results

Source: GlobeNewswire (MIL-OSI)

SHANGHAI, China, May 19, 2025 (GLOBE NEWSWIRE) — Qifu Technology, Inc. (NASDAQ: QFIN; HKEx: 3660) (“Qifu Technology” or the “Company”), a leading AI-empowered Credit-Tech platform in China, today announced its unaudited financial results for the first quarter ended March 31, 2025.

First Quarter 2025 Business Highlights

As of March 31, 2025, our platform has connected 163 financial institutional partners and 268.2 million consumers^*¹ with potential credit needs, cumulatively, an increase of 11.1% from 241.4 million a year ago.
Cumulative users with approved credit lines^*² were 58.4 million as of March 31, 2025, an increase of 11.6% from 52.3 million as of March 31, 2024.
Cumulative borrowers with successful drawdown, including repeat borrowers was 35.5 million as of March 31, 2025, an increase of 13.8% from 31.2 million as of March 31, 2024.
In the first quarter of 2025, financial institutional partners originated 24,401,374 loans^*³ through our platform.
Total facilitation and origination loan volume^*⁴ reached RMB88,883 million, an increase of 15.8% from RMB76,784 million in the same period of 2024 and a decrease of 1.1% from RMB89,885 million in the prior quarter. RMB43,811 million of such loan volume was under capital-light model, Intelligence Credit Engine (“ICE”) and total technology solutions^*5, representing 49.3% of the total, an increase of 15.1% from RMB38,053 million in the same period of 2024 and a decrease of 8.3% from RMB47,796 million in the prior quarter.
Total outstanding loan balance^*⁶ was RMB140,273 million as of March 31, 2025, an increase of 5.5% from RMB132,964 million as of March 31, 2024 and an increase of 2.4% from RMB137,014 million as of December 31, 2024. RMB78,681 million of such loan balance was under capital-light model, “ICE” and total technology solutions, an increase of 11.4% from RMB70,641 million as of March 31, 2024 and a decrease of 1.2% from RMB79,599 million as of December 31, 2024.
The weighted average contractual tenor of loans originated by financial institutions across our platform in the first quarter of 2025 was approximately 10.17 months, compared with 10.10 months in the same period of 2024.
90 day+ delinquency rate^*⁷ of loans originated by financial institutions across our platform was 2.02% as of March 31, 2025.
Repeat borrower contribution^*⁸ of loans originated by financial institutions across our platform for the first quarter of 2025 was 95.1%.

^{1 Refers to cumulative registered users across our platform.}
^{2 “Cumulative users with approved credit lines” refers to the total number of users who had submitted their credit applications and were approved with a credit line at the end of each period.}
^{3 Including 2,022,501 loans across “V-pocket”, and 22,378,873 loans across other products.}
^{4 Refers to the total principal amount of loans facilitated and originated during the given period. Retrospectively excluding the impact of discontinued service, which did not have and is not expected to have a material impact on our overall business, financial condition, and results of operations.}
^{5 “ICE” is an open platform primarily on our “Qifu Jietiao” APP (previously known as “360 Jietiao”), we match borrowers and financial institutions through big data and cloud computing technology on “ICE”, and provide pre-loan investigation report of borrowers. For loans facilitated through “ICE”, the Company does not bear principal risk.}
^{Under total technology solutions, we have been offering end-to-end technology solutions to financial institutions based on on-premise deployment, SaaS or hybrid model since 2023.}
^{6 “Total outstanding loan balance” refers to the total amount of principal outstanding for loans facilitated and originated at the end of each period, excluding loans delinquent for more than 180 days. Retrospectively excluding the impact of discontinued service, which did not have and is not expected to have a material impact on our overall business, financial condition, and results of operations.}
^{7 “90 day+ delinquency rate” refers to the outstanding principal balance of on- and off-balance sheet loans that were 91 to 180 calendar days past due as a percentage of the total outstanding principal balance of on- and off-balance sheet loans across our platform as of a specific date. Loans that are charged-off and loans under “ICE” and total technology solutions are not included in the delinquency rate calculation.}
^{8 “Repeat borrower contribution” for a given period refers to (i) the principal amount of loans borrowed during that period by borrowers who had historically made at least one successful drawdown, divided by (ii) the total loan facilitation and origination volume through our platform during that period.}

First Quarter 2025 Financial Highlights

Total net revenue was RMB4,690.7 million (US$646.4 million), compared to RMB4,482.3 million in the prior quarter.
Net income was RMB1,796.6 million (US$247.6 million), compared to RMB1,912.7 million in the prior quarter.
Non-GAAP^*⁹ net income was RMB1,926.2 million (US$265.4 million), compared to RMB1,972.4 million in the prior quarter.
Net income per fully diluted American depositary share (“ADS”) was RMB12.62 (US$1.74), compared to RMB13.24 in the prior quarter.
Non-GAAP net income per fully diluted ADS was RMB13.53 (US$1.86), compared to RMB13.66 in the prior quarter.

^{9 Non-GAAP income from operations, Non-GAAP net income, Non-GAAP operating margin, Non-GAAP net income margin and Non-GAAP net income per fully diluted ADS are Non-GAAP financial measures. For more information on these Non-GAAP financial measures, please see the section of “Use of Non-GAAP Financial Measures Statement” and the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this press release.}

Mr. Haisheng Wu, Chief Executive Officer and Director of Qifu Technology, commented, “First quarter came in stronger than typical seasonal trend despite the ongoing macroeconomic challenges. We observed an increase in users’ activities early in the quarter as public sentiment slightly improved in response to the strong stimulus messages delivered by government officials. However, we remain prudent in our business planning as tariff-related economic uncertainties may persist throughout this year. We will continue to focus on improving the quality and sustainability of our business.

During the quarter, we issued a record amount of ABS as the overall funding environment remained supportive. As a result, the blended funding cost continued to decline sequentially. Approximately 56% of the quarter-end loan balance was under the capital-light model, ICE and total technology solutions, demonstrating the efficiency of our platform services. The contribution from non-credit risk bearing services also continued to help us mitigate certain risks in a challenging environment. During the quarter, nearly half of our new credit line users were acquired through embedded finance partners, which we also refer to as API channels, as we further diversify our user acquisition channels. Loan volumes through the API channels increased significantly in the quarter.

With the growing maturity and efficiency of large language models, we will continue to allocate more resources to the application of AI across our credit service offerings. We expect that these AI-powered tools will not only allow us to serve our users with better offerings at greater efficiency but also enable our financial institution clients to better utilize the cutting-edge AI technologies, through our open platform. We believe these efforts will enable us to better navigate through the current environment and position us well to capture long-term opportunities through innovative technologies, enhanced products and collaborative models.”

“We are pleased to start 2025 with another quarter of solid financial results despite an uncertain macro environment. For the first quarter, total revenue was RMB4.69 billion and Non-GAAP net income was RMB1.93 billion,” Mr. Alex Xu, Chief Financial Officer, commented. “During the quarter, we successfully completed the US$690 million convertible notes offering and it gave us ample resources to accelerate our share repurchase programs. Our strong financial position enables us to consistently execute our strategy, support business initiatives, and enhance returns to our shareholders.”

Mr. Yan Zheng, Chief Risk Officer, added, “In the first quarter, we maintained a relatively stable risk profile as users’ activities came in stronger than normal. Although overall risk performance fluctuated from the best level we achieved in the prior quarter, it remained well within our target range. Among key leading indicators, Day-1 delinquency rate^*10 was 5.0% in the first quarter, and 30-day collection rate^*11 was 88.1%. While macro volatility may induce short-term fluctuation in risk metrics, we look forward to maintaining relatively stable risk performance in the coming quarters as we seek growth opportunities in 2025.”

^{10 “Day-1 delinquency rate” is defined as (i) the total amount of principal that became overdue as of a specified date, divided by (ii) the total amount of principal that was due for repayment as of such specified date.}
^{11 “30-day collection rate” is defined as (i) the amount of principal that was repaid in one month among the total amount of principal that became overdue as of a specified date, divided by (ii) the total amount of principal that became overdue as of such specified date.}

First Quarter 2025 Financial Results

Total net revenue was RMB4,690.7 million (US$646.4 million), compared to RMB4,153.2 million in the same period of 2024, and RMB4,482.3 million in the prior quarter.

Net revenue from Credit Driven Services was RMB3,110.9 million (US$428.7 million), compared to RMB3,016.3 million in the same period of 2024, and RMB2,889.5 million in the prior quarter.

Loan facilitation and servicing fees-capital heavy were RMB429.8 million (US$59.2 million), compared to RMB243.8 million in the same period of 2024 and RMB363.0 million in the prior quarter. The year-over-year increase was primarily due to an increase in capital-heavy loan facilitation volume and longer effective loan tenor. The sequential increase was primarily due to the increase in effective loan tenor.

Financing income^*¹² was RMB1,817.2 million (US$250.4 million), compared to RMB1,535.0 million in the same period of 2024 and RMB1,667.3 million in the prior quarter. The year-over-year and sequential increases were primarily due to the growth in the average outstanding balance of the on-balance-sheet loans.

Revenue from releasing of guarantee liabilities was RMB778.2 million (US$107.2 million), compared to RMB1,166.0 million in the same period of 2024, and RMB761.8 million in the prior quarter. The year-over-year decrease was mainly due to the decrease in the average outstanding balance of off-balance-sheet capital-heavy loans during the period.

Other services fees were RMB85.6 million (US$11.8 million), compared to RMB71.5 million in the same period of 2024, and RMB97.4 million in the prior quarter. The year-over-year and sequential changes reflected the changes in late payment fees under the credit driven services due to changes in collection rates of late paid loans.

Net revenue from Platform Services was RMB1,579.8 million (US$217.7 million), compared to RMB1,136.9 million in the same period of 2024 and RMB1,592.8 million in the prior quarter.

Loan facilitation and servicing fees-capital light were RMB373.7 million (US$51.5 million), compared to RMB502.7 million in the same period of 2024 and RMB515.1 million in the prior quarter. The year-over-year and sequential decreases were primarily due to the decreases in capital-light loan facilitation volume.

Referral services fees were RMB1,004.6 million (US$138.4 million), compared to RMB548.8 million in the same period of 2024 and RMB907.2 million in the prior quarter. The year-over-year and sequential increases were mainly due to the increases in loan facilitation volume through ICE.

Other services fees were RMB201.5 million (US$27.8 million), compared to RMB85.4 million in the same period of 2024 and RMB170.5 million in the prior quarter. The year-over-year and sequential changes reflected trends in other value-added services and late payment fees.

Total operating costs and expenses were RMB2,716.0 million (US$374.3 million), compared to RMB2,789.1 million in the same period of 2024 and RMB2,591.9 million in the prior quarter.

Facilitation, origination and servicing expenses were RMB714.5 million (US$98.5 million), compared to RMB736.0 million in the same period of 2024 and RMB734.7 million in the prior quarter.

Funding costs were RMB122.7 million (US$16.9 million), compared to RMB156.0 million in the same period of 2024 and RMB126.8 million in the prior quarter. The year-over-year and sequential decreases were mainly due to lower average costs of ABS and trusts, partially offsetting by increases in fundings from ABS and trusts.

Sales and marketing expenses were RMB591.5 million (US$81.5 million), compared to RMB415.6 million in the same period of 2024 and RMB523.9 million in the prior quarter. The year-over-year and sequential increases were primarily due to the increase in the allocation of marketing resources to embedded finance channels and content feed advertisements to generate more effective leads.

General and administrative expenses were RMB196.5 million (US$27.1 million), compared to RMB106.4 million in the same period of 2024 and RMB156.1 million in the prior quarter. The year-over-year and sequential increases were primarily due to an increase in share-based compensations.

Provision for loans receivable was RMB823.2 million (US$113.4 million), compared to RMB847.9 million in the same period of 2024 and RMB598.4 million in the prior quarter. The year-over-year decrease reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile. The sequential increase was primarily due to an increase in loan origination volume of on-balance-sheet loans and the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile.

Provision for financial assets receivable was RMB39.9 million (US$5.5 million), compared to RMB99.0 million in the same period of 2024 and RMB63.3 million in the prior quarter. The year-over-year decrease reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile. The sequential decrease was mainly due to the decline in capital-heavy loan facilitation volume.

Provision for accounts receivable and contract assets was RMB68.4 million (US$9.4 million), compared to RMB111.5 million in the same period of 2024 and RMB77.5 million in the prior quarter. The year-over-year and sequential decreases reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile and changes in capital-heavy and capital-light loan facilitation volume.

Provision for contingent liability was RMB159.3 million (US$22.0 million), compared to RMB316.7 million in the same period of 2024 and RMB311.4 million in the prior quarter. The year-over-year and sequential decreases reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile. The sequential decrease also reflected the decline in capital-heavy loan facilitation volume.

Income from operations was RMB1,974.7 million (US$272.1 million), compared to RMB1,364.1 million in the same period of 2024 and RMB1,890.3 million in the prior quarter.

Non-GAAP income from operations was RMB2,104.3 million (US$290.0 million), compared to RMB1,408.7 million in the same period of 2024 and RMB1,950.0 million in the prior quarter.

Operating margin was 42.1%. Non-GAAP operating margin was 44.9%.

Income before income tax expense was RMB2,220.2 million (US$306.0 million), compared to RMB1,526.2 million in the same period of 2024 and RMB1,932.7 million in the prior quarter.

Income taxes expense was RMB423.6 million (US$58.4 million), compared to RMB366.1 million in the same period of 2024 and RMB20.0 million in the prior quarter. The sequential increase was mainly due to the writeback of withholding taxes in the prior quarter related to the Company’s dividend payment and share repurchases, as the Company became eligible to a lower tax rate.

Net income was RMB1,796.6 million (US$247.6 million), compared to RMB1,160.1 million in the same period of 2024 and RMB1,912.7 million in the prior quarter.

Non-GAAP net income was RMB1,926.2 million (US$265.4 million), compared to RMB1,204.8 million in the same period of 2024 and RMB1,972.4 million in the prior quarter.

Net income margin was 38.3%. Non-GAAP net income margin was 41.1%.

Net income attributed to the Company was RMB1,800.2 million (US$248.1 million), compared to RMB1,164.3 million in the same period of 2024 and RMB1,916.6 million in the prior quarter.

Non-GAAP net income attributed to the Company was RMB1,929.8 million (US$265.9 million), compared to RMB1,208.9 million in the same period of 2024 and RMB1,976.4 million in the prior quarter.

Net income per fully diluted ADS was RMB12.62 (US$1.74).

Non-GAAP net income per fully diluted ADS was RMB13.53 (US$1.86).

Weighted average basic ADS used in calculating GAAP net income per ADS was 140.48 million.

Weighted average diluted ADS used in calculating GAAP and non-GAAP net income per ADS was 142.62 million.

Ordinary shares outstanding as of March 31, 2025 was 268,930,496.

^{12 “Financing income” is generated from loans facilitated through the Company’s platform funded by the consolidated trusts and Fuzhou Microcredit, which charge fees and interests from borrowers.}

30 Day+ Delinquency Rate by Vintage and 180 Day+ Delinquency Rate by Vintage

The following charts and tables display the historical cumulative 30 day+ delinquency rates by loan facilitation and origination vintage and 180 day+ delinquency rates by loan facilitation and origination vintage for all loans facilitated and originated through the Company’s platform. Loans under “ICE” and total technology solutions are not included in the 30 day+ charts and the 180 day+ charts:

http://ml.globenewswire.com/Resource/Download/528f864e-af49-4be7-b48b-b2650fa2808a

http://ml.globenewswire.com/Resource/Download/12433d9d-4214-431e-b551-59f682e1ed93

Update on Share Repurchase

On November 19, 2024, the Board approved a share repurchase plan (the “2025 Share Repurchase Plan”) whereby the Company is authorized to repurchase up to US$450 million worth of its ADSs or Class A ordinary shares over the next 12 months starting from January 1, 2025.

As of May 19, 2025, the Company had in aggregate purchased approximately 4.4 million ADSs on the open market for a total amount of approximately US$178 million (inclusive of commissions) at an average price of US$40.2 per ADS pursuant to the 2025 Share Repurchase Plan.

On March 25, 2025, the Board approved a new share repurchase plan (the “March 2025 Share Repurchase Plan”) whereby the Company is authorized to use to the net proceeds from the offering of convertible senior notes due 2030 to repurchase its ADSs and/or Class A ordinary shares, which runs in addition to the Company’s 2025 Share Repurchase Plan. On March 27, 2025, the Company announced the completion of the offering of the convertible senior notes in an aggregate principal amount of US$690 million due 2030. Concurrently with the pricing of this offering, the Company repurchased approximately 5.1 million ADSs with an aggregate value of approximately US$227 million at a price of US$44.23 per ADS. The Company expects to use the remaining net proceeds, which is approximately US$450 million, from the offering of the convertible senior notes to repurchase additional ADSs and/or Class A ordinary shares on the open market and/or through other means from time to time under the March 2025 Share Repurchase Plan.

Business Outlook

As macro-economic uncertainties persist, the Company intends to maintain a prudent approach in its business planning for 2025. Management will continue to focus on enhancing efficiency of the Company’s operations. As such, for the second quarter of 2025, the Company expects to generate a net income between RMB1.65 billion and RMB1.75 billion and a non-GAAP net income^*1³ between RMB1.75 billion and RMB1.85 billion, representing a year-on-year growth between 24% and 31%. This outlook reflects the Company’s current and preliminary views, which is subject to material changes.

^{13 Non-GAAP net income represents net income excluding share-based compensation expenses.}

Conference Call Preregistration

Qifu Technology’s management team will host an earnings conference call at 8:30 PM U.S. Eastern Time on Monday, May 19, 2025 (8:30 AM Beijing Time on Tuesday, May 20, 2025).

All participants wishing to join the conference call must pre-register online using the link provided below.

Registration Link: https://s1.c-conf.com/diamondpass/10047043-kj87y6.html

Upon registration, each participant will receive details for the conference call, including dial-in numbers and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin.

Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of the Company’s website at https://ir.qifu.tech.

About Qifu Technology

Qifu Technology is a leading AI-empowered Credit-Tech platform in China. By leveraging its sophisticated machine learning models and data analytics capabilities, the Company provides a comprehensive suite of technology services to assist financial institutions and consumers and SMEs in the loan lifecycle, ranging from borrower acquisition, preliminary credit assessment, fund matching and post-facilitation services. The Company is dedicated to making credit services more accessible and personalized to consumers and SMEs through Credit-Tech services to financial institutions.

For more information, please visit: https://ir.qifu.tech.

Use of Non-GAAP Financial Measures Statement

To supplement our financial results presented in accordance with U.S. GAAP, we use Non-GAAP financial measure, which is adjusted from results based on U.S. GAAP to exclude share-based compensation expenses. Reconciliations of our Non-GAAP financial measures to our U.S. GAAP financial measures are set forth in tables at the end of this earnings release, which provide more details on the Non-GAAP financial measures.

We use Non-GAAP income from operation, Non-GAAP operating margin, Non-GAAP net income, Non-GAAP net income margin, Non-GAAP net income attributed to the Company and Non-GAAP net income per fully diluted ADS in evaluating our operating results and for financial and operational decision-making purposes. Non-GAAP income from operation represents income from operation excluding share-based compensation expenses. Non-GAAP operating margin is equal to Non-GAAP income from operation divided by total net revenue. Non-GAAP net income represents net income excluding share-based compensation expenses. Non-GAAP net income margin is equal to Non-GAAP net income divided by total net revenue. Non-GAAP net income attributed to the Company represents net income attributed to the Company excluding share-based compensation expenses. Non-GAAP net income per fully diluted ADS represents net income excluding share-based compensation expenses per fully diluted ADS. Such adjustments have no impact on income tax. We believe that Non-GAAP income from operation, Non-GAAP operating margin, Non-GAAP net income, Non-GAAP net income margin, Non-GAAP net income attributed to the Company and Non-GAAP net income per fully diluted ADS help identify underlying trends in our business that could otherwise be distorted by the effect of certain expenses that we include in results based on U.S. GAAP. We believe that Non-GAAP income from operation and Non-GAAP net income provide useful information about our operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making. Our Non-GAAP financial information should be considered in addition to results prepared in accordance with U.S. GAAP, but should not be considered a substitute for or superior to U.S. GAAP results. In addition, our calculation of Non-GAAP financial information may be different from the calculation used by other companies, and therefore comparability may be limited.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB 7.2567 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of March 31, 2025.

Safe Harbor Statement

Any forward-looking statements contained in this announcement are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as the Company’s strategic and operational plans, contain forward-looking statements. Qifu Technology may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”), in announcements made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including the Company’s business outlook, beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, which factors include but not limited to the following: the Company’s growth strategies, changes in laws, rules and regulatory environments, the recognition of the Company’s brand, market acceptance of the Company’s products and services, trends and developments in the credit-tech industry, governmental policies relating to the credit-tech industry, general economic conditions in China and around the globe, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks and uncertainties is included in Qifu Technology’s filings with the SEC and announcements on the website of the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and Qifu Technology does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For more information, please contact:

Qifu Technology
E-mail: ir@360shuke.com

Unaudited Condensed Consolidated Balance Sheets (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”) except for number of shares and per share data, or otherwise noted)

	December 31,	March 31,	March 31,
	2024	2025	2025
	RMB	RMB	USD
ASSETS
Current assets:
Cash and cash equivalents	4,452,416	8,578,822	1,182,193
Restricted cash	2,353,384	3,236,427	445,992
Short term investments	3,394,073	2,040,269	281,157
Security deposit prepaid to third-party guarantee companies	162,617	173,437	23,900
Funds receivable from third party payment service providers	462,112	347,416	47,875
Accounts receivable and contract assets, net	2,214,530	2,316,593	319,235
Financial assets receivable, net	1,553,912	1,530,084	210,851
Amounts due from related parties	8,510	3,242	447
Loans receivable, net	26,714,428	30,675,633	4,227,215
Prepaid expenses and other assets	1,464,586	1,510,818	208,196
Total current assets	42,780,568	50,412,741	6,947,061
Non-current assets:
Accounts receivable and contract assets, net-noncurrent	27,132	20,004	2,757
Financial assets receivable, net-noncurrent	170,779	189,379	26,097
Amounts due from related parties	51	39	5
Loans receivable, net-noncurrent	2,537,749	2,314,826	318,992
Property and equipment, net	362,774	405,926	55,938
Land use rights, net	956,738	951,557	131,128
Intangible assets	11,818	11,420	1,574
Goodwill	42,414	42,407	5,844
Deferred tax assets	1,206,325	1,244,757	171,532
Other non-current assets	36,270	34,112	4,701
Total non-current assets	5,352,050	5,214,427	718,568
TOTAL ASSETS	48,132,618	55,627,168	7,665,629

LIABILITIES AND EQUITY
Current liabilities:
Payable to investors of the consolidated trusts-current	8,188,454	6,541,069	901,383
Accrued expenses and other current liabilities	2,492,921	3,337,707	459,948
Amounts due to related parties	67,495	48,442	6,675
Short term loans	1,369,939	1,219,431	168,042
Guarantee liabilities-stand ready	2,383,202	2,377,408	327,616
Guarantee liabilities-contingent	1,820,350	1,794,747	247,323
Income tax payable	1,040,687	1,054,537	145,319
Other tax payable	109,161	3,897	537
Total current liabilities	17,472,209	16,377,238	2,256,843
Non-current liabilities:
Deferred tax liabilities	439,435	569,734	78,511
Payable to investors of the consolidated trusts-noncurrent	5,719,600	10,354,000	1,426,819
Convertible senior notes	–	4,912,524	676,964
Other long-term liabilities	255,155	297,730	41,028
Total non-current liabilities	6,414,190	16,133,988	2,223,322
TOTAL LIABILITIES	23,886,399	32,511,226	4,480,165
TOTAL QIFU TECHNOLOGY INC EQUITY	24,190,043	23,063,344	3,178,216
Noncontrolling interests	56,176	52,598	7,248
TOTAL EQUITY	24,246,219	23,115,942	3,185,464
TOTAL LIABILITIES AND EQUITY	48,132,618	55,627,168	7,665,629

Unaudited Condensed Consolidated Statements of Operations (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”) except for number of shares and per share data, or otherwise noted)

	Three months ended March 31,
	2024	2025	2025
	RMB	RMB	USD
Credit driven services	3,016,282	3,110,866	428,690
Loan facilitation and servicing fees-capital heavy	243,766	429,775	59,225
Financing income	1,534,986	1,817,221	250,420
Revenue from releasing of guarantee liabilities	1,166,018	778,222	107,242
Other services fees	71,512	85,648	11,803
Platform services	1,136,901	1,579,831	217,706
Loan facilitation and servicing fees-capital light	502,715	373,709	51,498
Referral services fees	548,824	1,004,622	138,441
Other services fees	85,362	201,500	27,767
Total net revenue	4,153,183	4,690,697	646,396
Facilitation, origination and servicing	736,026	714,492	98,460
Funding costs	155,963	122,657	16,903
Sales and marketing	415,617	591,495	81,510
General and administrative	106,415	196,482	27,076
Provision for loans receivable	847,921	823,187	113,438
Provision for financial assets receivable	99,003	39,863	5,493
Provision for accounts receivable and contract assets	111,473	68,445	9,432
Provision for contingent liabilities	316,664	159,343	21,958
Total operating costs and expenses	2,789,082	2,715,964	374,270
Income from operations	1,364,101	1,974,733	272,126
Interest income, net	50,058	67,774	9,340
Foreign exchange gain	82	2,123	293
Other income, net	111,968	175,600	24,198
Income before income tax expense	1,526,209	2,220,230	305,957
Income taxes expense	(366,065)	(423,631)	(58,378)
Net income	1,160,144	1,796,599	247,579
Net loss attributable to noncontrolling interests	4,143	3,576	493
Net income attributable to ordinary shareholders of the Company	1,164,287	1,800,175	248,072
Net income per ordinary share attributable to ordinary shareholders of Qifu Technology, Inc.
Basic	3.73	6.41	0.88
Diluted	3.65	6.31	0.87

Net income per ADS attributable to ordinary shareholders of Qifu Technology, Inc.
Basic	7.46	12.82	1.76
Diluted	7.30	12.62	1.74

Weighted average shares used in calculating net income per ordinary share
Basic	312,027,192	280,958,513	280,958,513
Diluted	318,915,157	285,237,588	285,237,588

Unaudited Condensed Consolidated Statements of Cash Flows (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”) except for number of shares and per share data, or otherwise noted)

	Three months ended March 31,
	2024	2025	2025
	RMB	RMB	USD
Net cash provided by operating activities	1,958,267	2,805,685	386,634
Net cash used in investing activities	(3,138,175)	(3,240,186)	(446,510)
Net cash provided by financing activities	1,775,409	5,449,071	750,902
Effect of foreign exchange rate changes	2,095	(5,121)	(705)
Net increase in cash and cash equivalents	597,596	5,009,449	690,321
Cash, cash equivalents, and restricted cash, beginning of period	7,558,997	6,805,800	937,864
Cash, cash equivalents, and restricted cash, end of period	8,156,593	11,815,249	1,628,185

Unaudited Condensed Consolidated Statements of Comprehensive Income/(Loss) (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”) except for number of shares and per share data, or otherwise noted)

	Three months ended March 31,
	2024	2025	2025
	RMB	RMB	USD
Net income	1,160,144	1,796,599	247,579
Other comprehensive income, net of tax of nil:
Foreign currency translation adjustment	2,010	(15,362)	(2,117)
Other comprehensive income (loss)	2,010	(15,362)	(2,117)
Total comprehensive income	1,162,154	1,781,237	245,462
Comprehensive loss attributable to noncontrolling interests	4,143	3,576	493
Comprehensive income attributable to ordinary shareholders	1,166,297	1,784,813	245,955

Unaudited Reconciliations of GAAP and Non-GAAP Results (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”) except for number of shares and per share data, or otherwise noted)

	Three months ended March 31,
	2024	2025	2025
	RMB	RMB	USD
Reconciliation of Non-GAAP Net Income to Net Income
Net income	1,160,144	1,796,599	247,579
Add: Share-based compensation expenses	44,645	129,614	17,861
Non-GAAP net income	1,204,789	1,926,213	265,440
GAAP net income margin	27.9%	38.3%
Non-GAAP net income margin	29.0%	41.1%

Net income attributable to shareholders of Qifu Technology, Inc.	1,164,287	1,800,175	248,072
Add: Share-based compensation expenses	44,645	129,614	17,861
Non-GAAP net income attributable to shareholders of Qifu Technology, Inc.	1,208,932	1,929,789	265,933
Weighted average ADS used in calculating net income per ordinary share for both GAAP and non-GAAP EPS – diluted	159,457,579	142,618,794	142,618,794
Net income per ADS attributable to ordinary shareholders of Qifu Technology, Inc. – diluted	7.30	12.62	1.74
Non-GAAP net income per ADS attributable to ordinary shareholders of Qifu Technology, Inc. – diluted	7.58	13.53	1.86

Reconciliation of Non-GAAP Income from operations to Income from operations
Income from operations	1,364,101	1,974,733	272,126
Add: Share-based compensation expenses	44,645	129,614	17,861
Non-GAAP Income from operations	1,408,746	2,104,347	289,987
GAAP operating margin	32.8%	42.1%
Non-GAAP operating margin	33.9%	44.9%

The MIL Network –

May 20, 2025

MIL-OSI USA: DOE Finalizes 2024 LNG Export Study, Paving Way for Stronger American Energy Exports

Source: US Department of Energy

WASHINGTON— The U.S. Department of Energy (DOE) today released its Response to Comments on the 2024 LNG Export Study, marking a critical step toward returning to regular order on liquefied natural gas (LNG) exports. With this action, DOE has completed the final hurdles left over from the Biden administration’s reckless pause on LNG export permits, paving the way for the Trump Administration to fully unleash American LNG exports.

“President Trump was given a mandate to unleash American energy dominance, and that includes U.S. LNG exports,” U.S. Energy Secretary Chris Wright said. “The facts are clear: expanding America’s LNG exports is good for Americans and good for the world. Today, the Department of Energy is following the facts, closing the door on the Biden administration’s failed policies, and putting America’s energy future on stronger footing.”

“The 2024 Study confirms what our nation always knew—LNG supports our economy, strengthens our allies, and enhances national security. Biden’s opposition defied reason and reality and hurt American progress. We are pleased to issue the Response to Comments on the 2024 LNG Export Study, which will allow DOE to close out this chapter and fully return to regular order on LNG exports,” said Tala Goudarzi, Principal Deputy Assistant Secretary of the Office of Fossil Energy and Carbon Management.

The 2024 LNG Study was released at the end of the Biden administration in December 2024 and had a public comment period through March 20^th of this year. Based on the record evidence from the 2024 LNG Export Study and the public comments received, DOE makes several key findings, including: the United States has a robust natural gas supply that is sufficient to meet growing levels of exports while minimizing impacts to domestic prices; growing LNG exports increases our gross domestic product and expands jobs while improving our trade balance; and increasing U.S. LNG exports enhances domestic and international global security with no discernable impact to global greenhouse gas emissions.

In sum, DOE concludes that the complete record from the 2024 LNG Export Study, inclusive of the Study, the comments received, and this Response to Comments, supports the proposition that exports of LNG from the United States are in the best interest of the American public.

With the public comments to the 2024 LNG Export Study now addressed, DOE will proceed with issuing final orders on pending applications to export U.S.-sourced natural gas as LNG to non-free trade agreement countries.

A Notice of Availability of the Response to Comments will be published in the Federal Register in the coming days. In the meantime, the Response to Comments is available on DOE’s website here.

###

MIL OSI USA News –

May 20, 2025
MIL-OSI: Wen Acquisition Corp Completes $300,150,000 Initial Public Offering

Source: GlobeNewswire (MIL-OSI)

New York, NY, May 19, 2025 (GLOBE NEWSWIRE) — Wen Acquisition Corp (the “Company”) announced today the closing of its initial public offering of 30,015,000 units, which includes 3,915,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full. The offering was priced at $10.00 per unit, resulting in gross proceeds of $300,150,000. The Company’s units began trading on May 16, 2025 on The Nasdaq Global Stock Market LLC (“Nasdaq”) under the ticker symbol “WENNU.” Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share of the Company at an exercise price of $11.50 per share, subject to certain adjustment. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities constituting the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “WENN” and “WENNW,” respectively. Of the proceeds received from the consummation of the initial public offering (including the exercise of the over-allotment option) and a simultaneous private placement of warrants, $300,150,000 (or $10.00 per unit sold in the offering) was placed in trust.

The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry or at any stage of its corporate evolution. The Company’s primary focus, however, will be on infrastructure companies in the financial technology (“fintech”) sector that are focused on enablement of digital assets, such as stablecoins, through the incorporation and integration of blockchain networks into the traditional financial systems.

The Company’s management team is led by Julian M. Sevillano, its Chief Executive Officer and Chairman of the Board of Directors (the “Board”), and Jurgen van de Vyver, its Chief Financial Officer. The Board also includes Josh Fried, Co-Vice Chairman of the Board, Sheraz Shere, Co-Vice Chairman of the Board, and Drew Glover.

Cantor Fitzgerald & Co. acted as sole book-running manager for the offering.

A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on May 15, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements.” No assurance can be given that the net proceeds of the offering will be used as indicated.

Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the “Risk Factors” section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Investor Contacts

Wen Acquisition Corp
Jurgen van de Vyver
jurgen@launchpad.vc
510-200-8778

The MIL Network –

May 20, 2025
MIL-OSI Security: Retired U.S. Navy Admiral Found Guilty in Bribery Scheme

Source: Office of United States Attorneys

WASHINGTON – Admiral Robert Burke (USN-Ret.), 62, of Coconut Creek, Florida, was found guilty of bribery today in connection with accepting future employment at a government vendor in exchange for awarding that company a government contract.

  Following a five-day trial, a federal jury found Burke guilty of conspiracy to commit bribery, bribery, performing acts affecting a personal financial interest, and concealing material facts from the United States. U.S. District Court Judge Trevor N. McFadden scheduled sentencing for August 22, 2025.

  The verdict was announced by U.S. Attorney Jeanine Ferris Pirro, Matthew R. Galeotti Head of the Justice Department’s Criminal Division, Special Agent in Charge Greg Gross of the Naval Criminal Investigative Service (NCIS) Economic Crimes Field Office, and Assistant Director in Charge Steven J. Jensen of the FBI Washington Field Office.

  “When you abuse your position and betray the public trust to line your own pockets, it undermines the confidence in the government you represent,” said U.S. Attorney Pirro. “Our office, with our law enforcement partners, will root out corruption – be it bribes or illegal contracts – and hold accountable the perpetrators, no matter what title or rank they hold.”

  According to court documents and as the evidence proved at trial, from 2020 to 2022, Burke was a four-star Admiral who oversaw U.S. naval operations in Europe, Russia, and most of Africa, and commanded thousands of civilian and military personnel. The two co-defendants Kim and Messenger were the co-CEOs of a company (Company A) and provided a workforce training pilot program to a small component of the Navy from August 2018 through July 2019. The Navy terminated a contract with Company A in late 2019 and directed Company A not to contact Burke.

  Despite the Navy’s instructions, the co-defendants met with Burke in Washington, D.C., in July 2021, to reestablish Company A’s business relationship with the Navy. At the meeting, the charged defendants agreed that Burke would use his position as a Navy Admiral to steer a contract to Company A in exchange for future employment at the company. They further agreed that Burke would use his official position to influence other Navy officers to award another contract to Company A to train a large portion of the Navy with a value one of the co-defendants allegedly estimated to be “triple digit millions.”

  In December 2021, Burke ordered his staff to award a $355,000 contract to Company A to train personnel under Burke’s command in Italy and Spain. Company A performed the training in January 2022. Thereafter, Burke promoted Company A in a failed effort to convince another senior Navy Admiral to award another contract to Company A. To conceal the scheme, Burke made several false and misleading statements to the Navy, including by falsely implying that Company A’s employment discussions with Burke only began months after the contract was awarded and omitting the truth on his required government ethics disclosure forms.

  In October 2022, Burke began working at Company A at a yearly starting salary of $500,000 and a grant of 100,000 stock options.

  This case was investigated by the Defense Criminal Investigative Service, Naval Criminal Investigative Service, and the FBI’s Washington Field Office. It is being prosecuted by Assistant U.S. Attorney Rebecca G. Ross for the District of Columbia and Trial Attorneys Trevor Wilmot and Kathryn E. Fifield of the Criminal Division’s Public Integrity Section. It was investigated and indicted by Assistant U.S. Attorney Joshua Rothstein.

24cr265

MIL Security OSI –

May 20, 2025
MIL-OSI: Columbus Circle Capital Corp. I and Cohen & Company Inc. Announce Completion of Upsized $250,000,000 Initial Public Offering

Source: GlobeNewswire (MIL-OSI)

New York, NY, and Philadelphia, PA, May 19, 2025 (GLOBE NEWSWIRE) — Columbus Circle Capital Corp. I (NASDAQ: CCCMU) (the “Company”) and Cohen & Company Inc. (NYSE American: COHN) (“Cohen & Company”) today announced the closing of the Company’s upsized initial public offering of 25,000,000 units, which included 3,000,000 units issued pursuant to the partial exercise by the underwriters of their over-allotment option. The offering was priced at $10.00 per unit, resulting in gross proceeds of $250,000,000.

The Company’s units began trading on the Nasdaq Global Market (“NASDAQ”) on May 16, 2025, under the ticker symbol “CCCMU.” Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to certain adjustments. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on NASDAQ under the symbols “CCCM” and “CCCMW,” respectively.

Cohen & Company Capital Markets, a division of Cohen & Company’s broker-dealer subsidiary, J.V.B. Financial Group, LLC, acted as the lead book-running manager for the offering. Clear Street LLC acted as joint book-runner. Ellenoff Grossman & Schole LLP, and Ogier (Cayman) LLP, served as legal counsel to the Company, and Loeb & Loeb LLP served as legal counsel to the underwriters. A subsidiary of Cohen & Company also acted as sponsor of the Company.

A registration statement relating to the units and the underlying securities was declared effective by the Securities and Exchange Commission (the “SEC”) on May 15, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering was made only by means of a prospectus, copies of which may be obtained from Cohen & Company Capital Markets, 3 Columbus Circle, 24th Floor, New York, NY 10019, Attention: Prospectus Department, or by email at: capitalmarkets@cohencm.com. Copies of the registration statement can be accessed for free through the SEC’s website at www.sec.gov.

Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of units, $250,000,000 was placed in the Company’s trust account for the benefit of the Company’s public shareholders. An audited balance sheet of the Company as of May 19, 2025 reflecting receipt of the proceeds upon consummation of the initial public offering and the private placement will be included as an exhibit to a Current Report on Form 8-K to be filed by the Company with the SEC.

About Columbus Circle Capital Corp. I

The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an initial business combination target in any industry or geographical location. The Company’s management team is led by Gary Quin, its Chief Executive Officer and Chairman of the board of directors, and Joseph W. Pooler, Jr., its Chief Financial Officer. Garrett Curran, Alberto Alsina Gonzalez, Dr. Adam Back and Matthew Murphy are independent directors.

About Cohen & Company Inc.

Cohen & Company is a financial services company specializing in an expanding range of capital markets and asset management services. Cohen & Company’s operating segments are Capital Markets, Asset Management, and Principal Investing. The Capital Markets segment consists of fixed income sales, trading, gestation repo financing, new issue placements in corporate and securitized products, underwriting, and advisory services, operating primarily through Cohen & Company’s subsidiaries, J.V.B. Financial Group, LLC (“JVB”) in the United States and Cohen & Company Financial (Europe) S.A. in Europe. Cohen & Company Capital Markets (“CCM”), a division of JVB, is Cohen & Company’s full-service boutique investment bank that focuses on mergers and acquisitions, capital markets, and SPAC advisory services. The Capital Markets segment also includes investment returns on financial instruments that Cohen & Company has received as consideration for advisory, underwriting, and new issue placement services provided by CCM. The Asset Management segment manages assets through collateralized debt obligations, managed accounts, joint ventures, and investment funds. As of March 31, 2025, Cohen & Company had approximately $2.3 billion of assets under management in primarily fixed income assets in a variety of asset classes including U.S. and European bank and insurance trust preferred securities, debt issued by small and medium sized European, U.S., and Bermudian insurance and reinsurance companies, equity interests of SPACs and their sponsor entities, and commercial real estate loans. The Principal Investing segment is comprised primarily of investments Cohen & Company holds related to its SPAC franchise and other investments Cohen & Company has made for the purpose of earning an investment return rather than investments made to support its trading or other capital markets business activity. For more information, please visit www.cohenandcompany.com.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.

Contact Information:

Columbus Circle Capital Corp I
Gary Quin, Chief Executive Officer
gquin@cohencm.com

Cohen & Company Inc.
Joseph W. Pooler, Jr.
investorrelations@cohenandcompany.com

The MIL Network –

May 20, 2025
MIL-OSI Security: Project Homecoming Charter Flight Brings Self-Deporters to Honduras, Colombia

Source: US Department of Homeland Security

Illegal Aliens, Using the CBP Home App, Chose to Return Home the Right Way

WASHINGTON – Today, The Department of Homeland Security (DHS) conducted avoluntary charter flight from Houston, TX, to Honduras and Colombia, bringing 64 participants who opted to self-deport back to their home countries. This charter flight is one of the first actions the Department has taken to fulfill President Trump’s recent proclamation to create Project Homecoming.

This was a voluntary charter flight, not an ICE enforcement operation. All participants were offered the same benefits as any illegal alien who self-deports using the CBP Home App. Theyreceived travel assistance, a $1,000 stipend, and preserved the possibility they could one day return to the United States legally.

In Honduras, 38participants were warmly welcomed by their home government and family members. They also benefitedfrom the Honduran government’s “Hermano, Hermana, Vuelve a Casa” program, which includes an additional $100 bonus for people over 18, food vouchers, and assistance in finding employment.

In Colombia, 26 participants were welcomed back by their families and representatives of the Colombian Ministry of Foreign Affairs, and Migration Colombia. The Colombian government provided social services from the Family Welfare Institute (ICBF), and the Department of Social Prosperity.

“Today, DHS conducted its first Project Homecoming charter flight of 64 individuals who voluntarily chose to self-deport to their home counties of Honduras and Colombia,” said Secretary Kristi Noem. “If you are here illegally, use the CBP Home App to take control of your departure and receive financial support to return home. If you don’t, you will be subjected to fines, arrest, deportation and will never be allowed to return. If you are in this country illegally, self-deport NOW and preserve your opportunity to potentially return the legal, right way.”

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MIL Security OSI –

May 20, 2025
MIL-OSI: Capital Bank Launches New Digital Banking Platform in Partnership with Q2, Advancing Innovation and Customer-Focused Growth

Source: GlobeNewswire (MIL-OSI)

ROCKVILLE, Md., May 19, 2025 (GLOBE NEWSWIRE) — Capital Bank, N.A. has officially launched its new digital banking platform, powered by Q2, a leader in digital transformation for financial services. The upgrade delivers a secure, modern experience for business customers and marks a major step in the Bank’s ongoing digital evolution.

Known for its agile, growth-oriented approach, Capital Bank continues to invest in technology that enhances efficiency and meets the demands of today’s business environment . The new platform includes advanced digital treasury management capabilities and provides the scalability needed to expand into new geographies and new customer segments.

“This launch is more than a technology upgrade—it’s a strategic step in how we scale Capital Bank,” said Ed Barry, CEO of Capital Bank. “By investing in a modern, flexible platform, we’re strengthening our ability to serve complex business needs, expand into new markets, and deliver the kind of seamless experience today’s customers expect. It’s a move that aligns technology with our broader growth strategy and positions us to better serve an increasingly digital economy—without losing the personal touch that defines who we are.”

The platform gives customers consistent access across devices and equips the Bank to stay nimble in a rapidly changing financial landscape.

“Providing reliable, high-quality service—both in person and online—is a priority for our entire organization,” added Steve Poynot, President and COO of Capital Bank. “This partnership with Q2 allows us to bring our relationship-first approach into the digital space, ensuring our customers experience convenience without compromise.”

About Capital Bank
Capital Bank is a subsidiary of Capital Bancorp, Inc. (NASDAQ: CBNK), a publicly traded company with more than $3.3 billion in assets as of March 31, 2025. The Bank is a member of the Federal Reserve Bank System, FDIC-insured, and an Equal Housing Lender.

Since 1999, Capital Bank has combined innovative technology with customized financial solutions to help clients grow. Its long-standing success is grounded in a simple principle: Think Big, Act Local.

To learn more, visit www.capitalbankmd.com.

Dominic Canuso
EVP, Chief Financial Officer
dcanuso@capitalbankmd.com
240-283-0402 ext.1223

The MIL Network –

May 20, 2025
MIL-OSI Russia: Chairman of the Standing Committee of the National People’s Congress Holds Talks with the Speaker of the Chamber of Deputies of the Congress of Mexico

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

BEIJING, May 19 (Xinhua) — Zhao Leji, chairman of the Standing Committee of the National People’s Congress (NPC), held talks with Sergio Gutierrez Luna, president of the Chamber of Deputies (lower house) of Mexico, in Beijing on Monday.

Zhao Leji said China is willing to work with Mexico to implement the important consensus reached by the two heads of state, implement the five plans for building a community with a shared future for China and Latin American and Caribbean countries (LAC), enrich the content of the China-Mexico comprehensive strategic partnership, and promote unity and prosperity between China and LAC.

The above-mentioned five programs, covering aspects such as solidarity, development, civilization, peace and people-to-people connectivity, were introduced by Chinese President Xi Jinping at the opening ceremony of the 4th China-CELAC (Community of Latin American and Caribbean States) Forum Ministerial Meeting in Beijing last week.

The NPC Standing Committee chairman noted that the Chinese side highly appreciates the long-term commitment of the Mexican Chamber of Deputies to the one-China principle and welcomes Mexico’s flexible participation in the joint construction of the Belt and Road Initiative.

According to Zhao Leji, China welcomes deepening cooperation with Mexico in traditional sectors such as infrastructure construction, expanding cooperation in new sectors including electric vehicles, new energy and agricultural machinery, strengthening cultural and people-to-people exchanges, and expanding cooperation in education, think tanks and the media.

Zhao Leji stressed that the Chinese National People’s Congress is willing to strengthen exchanges and maintain close coordination with the Mexican parliament.

As important representatives of the Global South, China and LAC countries should carry forward the glorious tradition of independence and self-reliance, safeguard their right to development, uphold international fairness and justice, and practice genuine multilateralism, the NPC Standing Committee chairman added.

S. Gutierrez Luna, for his part, stated that Mexico is ready to work with China to promote the implementation of the results of the China-CELAC Forum and strengthen cooperation in the areas of economics, science, technology, culture, education and tourism.

Mexico advocates for strengthening international cooperation instead of erecting barriers, S. Gutierrez Luna emphasized, adding that the Chamber of Deputies of the Mexican Congress hopes to deepen exchanges with the NPC to promote Mexico-China relations and LAC-China relations. –0–

MIL OSI Russia News –

May 20, 2025
MIL-OSI Russia: Chinese Foreign Minister Calls on China and Germany to Deepen Mutually Beneficial Cooperation, Jointly Oppose Unilateralism and Protectionism /more details/

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

BEIJING, May 19 (Xinhua) — Chinese Foreign Minister Wang Yi on Monday called on China and Germany to deepen mutually beneficial cooperation and jointly oppose unilateralism and protectionism.

Wang Yi, also a member of the Politburo of the CPC Central Committee, made the statement during a telephone conversation with German Foreign Minister Johann Wadephul.

The Chinese diplomat congratulated his colleague on taking office, noting that Chinese-German relations go beyond bilateral relations in their significance and have an important impact on economic development and strategic stability throughout the world.

Stressing that China and Germany enjoy a comprehensive strategic partnership, Wang Yi expressed hope that the new German government will remain committed to this status of bilateral relations and pursue a rational and pragmatic policy towards China.

Wang Yi pointed out that the Taiwan issue is a matter of China’s fundamental interests. He expressed his belief that the German side will firmly adhere to the one-China principle, just as China once supported the reunification of Germany.

Deepening mutually beneficial cooperation is a natural choice for China and Germany, whose economies are highly complementary, whose industries are deeply interconnected and whose interests are closely integrated, Wang said, stressing that both sides should not allow normal bilateral cooperation to be undermined in the interests of so-called risk reduction.

As the Chinese Foreign Minister noted, this year marks the 50th anniversary of the establishment of diplomatic relations between China and the European Union, which is an important milestone connecting the past and the future. In this regard, Wang Yi expressed hope that Germany will play an active role as a key member state of the European Union and give new impetus to the development of relations between China and the EU through high-quality Sino-German cooperation.

According to him, the Chinese side also expects the European Union to move towards China, promptly and properly resolve the anti-subsidy case against Chinese electric vehicles, and promote qualitative improvement of cooperation between China and the EU.

Wang added that China and Germany should shoulder their responsibilities as major countries, jointly advocate and adhere to free trade, oppose unilateralism and protectionism, ensure the security and stability of global industrial and supply chains, practice genuine multilateralism, and uphold the international system with the UN at its core.

J. Wadephul, for his part, stated that German-Chinese relations are of great importance for the development of the world economy and for the future of the international community. He pointed out that the new German government pays close attention to relations with China and intends to pursue an active policy towards the PRC.

As J. Wadephul emphasized, Germany has firmly adhered to the one-China policy in the past and will continue to do so in the future, wishing to be a reliable and predictable partner for the Chinese side.

As a leading member of the European Union, Germany intends to make efforts to resolve differences through dialogue and consultation and supports the EU and China in resolving issues such as the anti-subsidy case against Chinese electric vehicles through negotiations, the German diplomat assured.

The two sides also exchanged views on the Ukrainian crisis. Wang Yi said China has made continuous efforts to advance peace talks and supports achieving a fair, lasting and legally binding peace agreement through direct dialogue.

J. Wadeful, in turn, expressed hope that China will use its influence to promote a ceasefire and a speedy end to the crisis in Ukraine. –0–

MIL OSI Russia News –

May 20, 2025
MIL-OSI: Aether Holdings to Present at the Aegis Capital Corp. 2025 Virtual Conference on May 22nd

Source: GlobeNewswire (MIL-OSI)

NEW YORK, May 19, 2025 (GLOBE NEWSWIRE) — Aether Holdings, Inc. (Nasdaq: ATHR) (“Aether” or the “Company”), an emerging financial technology platform company that offers proprietary research analytics, today announced that its management team is scheduled to present at the Aegis Capital Corp. 2025 Virtual Conference on Thursday, May 22nd, 2025.

Presentation Details:
Date: May 22nd, 2025
Time: 2:00 p.m. ET
Webcast Registration: https://us02web.zoom.us/meeting/register/AfmnLxICTqmjEvoSG9-MMQ

Frank Cid, VP of Business Development at Aether Holdings, will present the Company’s strategic vision, highlighting the recent launch of Alpha Edge Media, its digital-first content arm focused on expanding subscriber engagement through targeted newsletters and proprietary market insights.

“We are excited to showcase Aether at the Aegis Virtual Conference following our recent initial public offering,” said Nicolas Lin, CEO of Aether Holdings. “This is a key moment to share how we’re scaling subscriber engagement through Alpha Edge Media, our content engine designed to grow a data-rich investor audience. By connecting media, behavior, and analytics, we’re creating a self-learning system that delivers smarter, faster insights and positions us to lead the next wave of fintech innovation.”

About Aether Holdings, Inc.

Aether Holdings, Inc. (Nasdaq: ATHR) is an emerging financial technology holding company focused on transforming the way investors navigate the markets. Leveraging decades of market expertise and cutting-edge technology, Aether delivers proprietary tools, data, and research to empower traders with actionable insights and enhanced decision-making capabilities.

Aether’s flagship platform, SentimenTrader.com, is designed to serve both retail and institutional investors by offering advanced sentiment analysis through the use of machine learning (ML) and artificial intelligence (AI) capabilities. With over 20 years of sentiment data integrated into its systems, Aether aims to provide its users with a powerful combination of technology and expertise, enabling them to make informed decisions to level up their trading in the markets.

Aether is committed to building an ecosystem that supports smarter, data-driven trading strategies, reinforcing its mission to empower the investing community and redefine excellence in fintech. By integrating advanced technologies, including artificial intelligence tools with the critical thinking and analytical abilities of its team of evidence-based trading veterans, Aether aims to provide its users with a powerful combination of technology and expertise, enabling them to make informed decisions to level up their trading in the markets.

Find out more about Aether Holdings at https://helloaether.com/

Cautionary Note Regarding Forward Looking Statements

This news release and statements of Aether’s management in connection with this news release contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. In this press release, forward-looking statements relate to the anticipated benefits to Aether of the launch and business plan for Alpha Edge Media as described herein. These and other forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond our control. For Aether, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to Aether’s ability to adequately market its products and services, and to develop or acquire additional products and product offerings; (ii) risks related to intense competition in the fintech and financial newsletter sector; (iii) risk related to artificial intelligence and machine learning; (iv) the inability of Aether to maintain and protect its reputation for trustworthiness and independence; (v) the inability of Aether to attract new users and subscribers and convert free users to paying subscribers; (vi) similar risks and uncertainties associated with operating a relatively small business a rapidly evolving industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and Aether therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://investor.helloaether.com/#sec-filings. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

Aether Holdings, Inc. Contact
Nicolas Lin, CEO
(347) 363-0886
ir@helloaether.com

Investor Relations Contact
Matthew Abenante, IRC
President, Strategic Investor Relations, LLC
(347)-947-2093
Email: matthew@strategic-ir.com

Media Contact
Jessica Starman, MBA
media@helloaether.com

The MIL Network –

May 20, 2025
MIL-Evening Report: The federal government wants to boost productivity. Science can help

Source: The Conversation (Au and NZ) – By Deanna D’Alessandro, Professor & Director, Net Zero Institute, University of Sydney

Daniel Sone/National Cancer Institute

In the wake of Labor’s resounding victory in Australia’s federal election earlier this month, there has been much talk about flailing productivity in Australia.

In fact, last week, Prime Minister Anthony Albanese and Treasurer Jim Chalmers made clear that the priority for the government’s second term will be to boost productivity. This crucial measure of how much we produce for every hour we work rises a little every year. But growth has slowed over the past decade.

As part of this, the federal government has tasked the Productivity Commission with a new strategy to enhance productivity. A draft report is expected in July or August, with implementable ideas across five key pillars.

So far, however, one part of the solution to the productivity slump has received little public attention: boosting support for scientific research.

Productivity relies on science

Science can help boost national economic productivity in many ways.

For one, scientific innovation and creativity can create high value goods and services for both Australian and international markets. And translating this research into real-world economic benefits builds a workforce that combines science, technology, engineering and mathematics (STEM) skills with business skills.

This is important because it fosters technological innovation and supports evidence-based decision making. It also empowers individuals to solve complex problems in the face of technological change. This ultimately drives productivity growth.

Australian scientific solutions will also need to be at the fore if the Future Made in Australia agenda is to realise its goal of stronger public-private sector relationships and a more resilient economy.

The so-called fourth industrial revolution, or Industry 4.0, refers to the rapid digitisation and automation of manufacturing industry technologies and processes. It not only relies on science to realise the enormous opportunities of digital technologies, but also to ensure they are harnessed sustainably.

For example, science can help address the serious concerns relating to the huge energy and resource cost of artificial intelligence.

Recognising the role of science

The government seems to recognise the role scientific research and innovation can play in boosting productivity.

For example, in 2024 it fully launched the Australian Economic Accelerator, which was announced by the former Coalition government two years earlier. This scheme is designed to foster and build productivity by supporting university research in Australia that has the potential for commercialisation.

Australia’s new national science and research priorities also highlight the crucial role of science in addressing Australia’s complex energy and environmental challenges.

But there are still some fundamental problems in the world of science that are limiting productivity growth in Australia.

A widening gap

One of these problems relates to research and development – or R&D – funding.

Australia’s investment in R&D as a percentage of gross domestic product has been declining for many years. It has dropped from 2.25% in 2008–9 to 1.68% in 2021–22. At the same time, other advanced economies have increased their R&D spending, leading to a widening gap. The OECD average is 2.7%.

Multiple leading bodies have called out this decline as a threat to Australia’s long-term productivity. That’s because R&D spending in science fosters innovation and creativity – two major factors in productivity growth.

Another problem is the declining support for fundamental science which isn’t done with any application in mind, but can be equally important in the long term to enhancing productivity.

Consider the discovery of penicillin. Or of the double helix structure of DNA. These are just some scientific breakthroughs that were not initially focused on practical applications, but ultimately proved transformative.

This kind of scientific research requires sustained support, allowing knowledge to grow. We have seen the results of this in action and its impact even more recently. Scientists had worked on mRNA vaccines for decades before the vaccine breakthrough achieved during the COVID pandemic.

A nation at a crossroads

Australia is at a crossroads. Simply increasing funding in the short term through measures such as Australia’s Economic Accelerator is, at best, a band-aid solution. What’s needed to properly tackle the problem is thoughtful reform and long-term, strategic planning to secure the nation’s prosperity for decades to come.

There is some hope for this, thanks to the government’s comprehensive review of the R&D sector. This review aims to align R&D with national priorities, maximise the value of existing investments, harness public-private partnerships, and strengthen collaboration between research and industry.

The review is engaging a wide range of stakeholders and is designed to deliver long-term transformation.

Addressing productivity in these areas could yield substantial benefits. It could build Australia’s industrial and economic self-sufficiency. And it could broaden our field of view around productivity and how it can be boosted through long-term investment in science and R&D reforms.

By implementing robust R&D reforms and driving productivity across all sectors, Australia can set itself up for sustained growth and international influence.

Deanna D’Alessandro receives funding from the Australian Research Council.

Kate Harrison Brennan was an Advisor to former Prime Minister Julia Gillard and is a member of the Australian Labor Party.

– ref. The federal government wants to boost productivity. Science can help – https://theconversation.com/the-federal-government-wants-to-boost-productivity-science-can-help-256567

MIL OSI Analysis – EveningReport.nz –

May 20, 2025
MIL-OSI Video: Inside the FBI Podcast: Protecting Chinese Students from Scammers

Source: Federal Bureau of Investigation (FBI) (video statements)

On this episode of the Inside the FBI Podcast, we’re warning the public about a financial fraud scheme involving scammers who impersonate Chinese law enforcement and target the U.S.-based Chinese community—in particular, Chinese students attending American universities. For a full transcript and additional resources, visit https://www.fbi.gov/news/podcasts.

If you believe you’ve been contacted by an individual or group claiming to be a Chinese authority, contact your local FBI field office. You can visit https://www.fbi.gov/fieldoffices for more information.

And if you’ve experienced or witnessed any fraudulent or suspicious activities, please report them to the FBI Internet Crime Complaint Center at https://www.ic3.gov as soon as you can. Be sure to include as much transaction information as possible, such as wire instructions, wallet addresses, telephone numbers, and text or email communications.

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https://www.youtube.com/watch?v=EAA_Yh1Adw0

MIL OSI Video –

May 20, 2025
MIL-OSI USA: Statement of Sen. Warner on the GENIUS Act

US Senate News:

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

WASHINGTON – U.S. Sen. Mark R. Warner (D-VA) released the following statement ahead of a Senate procedural vote on a revised version of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act:

“The stablecoin market has reached nearly $250 billion and the U.S. can’t afford to keep standing on the sidelines. We need clear rules of the road to protect consumers, defend national security, and support responsible innovation. The GENIUS Act is a meaningful step forward. It sets high standards for issuers, limits big tech overreach, and creates a safer, more transparent framework for digital assets. It’s not perfect, but it’s far better than the status quo.

“Many senators, myself included, have very real concerns about the Trump family’s use of crypto technologies to evade oversight, hide shady financial dealings, and personally profit at the expense of everyday Americans. We have a duty to shine a light on these abuses and stop Donald Trump from exploiting emerging technologies to enrich himself, dodge accountability, and weaken the safeguards that protect American consumers and the rule of law.

“But we cannot allow that corruption to blind us to the broader reality: blockchain technology is here to stay. If American lawmakers don’t shape it, others will – and not in ways that serve our interests or democratic values. Innovation in this space is happening, with or without us. We have a responsibility to ensure it happens safely, transparently, and in a way that advances U.S. economic and national security interests. The GENIUS Act will help get us started.”

MIL OSI USA News –

May 20, 2025

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