NewzIntel.com

Category: Economy

  • MIL-OSI Security: Federal Grand Jury Indicts Essex County, New Jersey Man and Woman for Conspiracy to Commit Forced Labor; Man Also Charged with Sex Trafficking and Forced Labor

    Source: United States Attorneys General 12

    A federal grand jury in the District of New Jersey, returned an indictment on April 25 that was unsealed Wednesday, charging Treva Edwards, 60, with sex trafficking by force, fraud, or coercion and forced labor. The indictment also charged Treva Edwards and Christine Edwards, 63, with conspiracy to commit forced labor.

    According to the indictment, Treva and Christine Edwards were the founders and pastors of a church they named “Jesus is Lord by the Holy Ghost,” which they operated out of a multi-unit apartment building in Orange, New Jersey, and where they conspired with each other and others to obtain the compelled labor of church members.

    “The Department of Justice will not tolerate the exploitation of vulnerable individuals under the guise of faith or community,” said Assistant Attorney General Harmeet K. Dhillon of the Justice Department’s Civil Rights Division. “This Civil Rights Division is committed to holding accountable those who abuse positions of trust to manipulate and control others for personal gain. These charges reflect our unwavering focus on protecting victims and prosecuting those who commit forced labor and sex trafficking.”

    “These charges are an example of my office’s tireless commitment to combatting human trafficking in our community,” said U.S. Attorney Alina Habba for the District of New Jersey. “If you engage in human trafficking, we will find you, and we will prosecute you. We are committed to working alongside our partners to ensure that those who target the most vulnerable are brought to justice.”

    “Treva and Christine Edwards turned a source of hope into a tool of fear by allegedly exploiting religious faith to manipulate victims and expose them to sexual violence and forced labor conditions,” said Special Agent in Charge Ricky J. Patel of Homeland Security Investigations (HSI) Newark Division. “Seeking justice for human trafficking victims in cases like this is of utmost importance to HSI Newark. Anyone who may believe they are a victim of trafficking can be assured our investigations are victim-centered and that we will continue to relentlessly pursue justice for anyone’s freedom that has been held ransom.”

    “An important part of the mission of the U.S. Department of Labor, Office of Inspector General is to investigate allegations of labor trafficking involving the use of coercion or force,” said Special Agent in Charge Jonathan Mellone of the Department of Labor, Office of Inspector General, Northeast Region. “We will continue to work with our law enforcement partners to investigate these types of allegations.”

    As charged in the indictment, between 2011 and 2020, the defendants identified and recruited victims who were facing struggles in their personal lives, including financial and familial struggles, to join the church and live and worship at the church building. Treva Edwards told the victims that he was a prophet who could communicate directly with God and that disobeying him would result in spiritual retribution from God, as well as physical, emotional, and financial harm.

    The defendants secured labor contracts to provide manual labor in and around Orange, New Jersey, and the defendants dispatched the victims to perform the contracted labor. The defendants did not pay wages to the victims for their work and kept the money earned from their labor.

    The defendants convinced the victims that they would lose favor with God if they did not perform labor. Treva Edwards spread fear among the victims through verbal and emotional abuse and threats of reputational harm, homelessness, hunger, spiritual retribution, punishments, and more hard labor to gain their obedience and compel them to perform unpaid labor. The defendants instituted and enforced strict rules about when and whether the victims could eat or sleep, when and for how long they were to pray and work, and whether they could speak to non-members or leave the church building. The defendants isolated the victims, monitored their communications and whereabouts, and by convincing them that non-members were evil or possessed by the devil. The defendants deprived the victims of sleep and typically fed them only once a day after they completed their work.

    Also according to the allegations in the indictment, Treva Edwards controlled and subjected one victim to repeated physical and sexual assaults, impregnated her, and instructed her to get an abortion.

    The defendants made their initial court appearances today before a U.S. Magistrate Judge André M. Espinosa. The charge of sex trafficking by force, fraud, or coercion against Treva Edwards carries a mandatory minimum penalty of 15 years in prison and a maximum penalty of life imprisonment. The forced labor charge against Treva Edwards carries a maximum penalty of twenty years or life imprisonment if the violation included aggravated sexual abuse. The conspiracy to commit forced labor charge carries a maximum penalty of 20 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors. There is no parole in the federal system.

    Assistant Attorney General Harmeet K. Dhillon of the Justice Department’s Civil Rights Division and U.S. Attorney Alina Habba of the District of New Jersey credited special agents of Homeland Security Investigations Newark, under the direction of Special Agent in Charge Ricky J. Patel and special agents of the U.S. Department of Labor, Office of Inspector General, Northeast Region, under the direction of Special Agent in Charge Jonathan Mellone, with the investigation leading to this indictment.

    Assistant U.S. Attorneys Trevor Chenoweth and Susan Millenky for the District of New Jersey and Trial Attorney Francisco Zornosa of the Civil Rights Division’s Human Trafficking Prosecution Unit are prosecuting the case.

    HSI Newark is asking anyone with information about Treva Edwards, Christine Edwards, or their organization known as Jesus is Lord by the Holy Ghost (JLHG), to contact its tip line at (866) 347-2423 or email  HSINewarkHumanTrafficking@hsi.dhs.gov. The tip line is monitored 10 a.m. to 6 p.m. Additionally, there is an online tip form.

    If you or someone you know is a victim of human trafficking, please call the National Human Trafficking Hotline at 1 (888) 373-7888.

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

    MIL Security OSI –

  • MIL-OSI Russia: Xi Jinping Calls on China, Myanmar to Steadily Push Forward Key Projects of China-Myanmar Economic Corridor

    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

    Moscow, May 9 (Xinhua) — Chinese President Xi Jinping on Friday called on China and Myanmar to deepen strategic cooperation and steadily advance the implementation of key projects of the China-Myanmar Economic Corridor.

    Xi Jinping made the statement during a meeting with Myanmar leader Min Aung Hlaing on the sidelines of celebrations marking the 80th anniversary of the Soviet Union’s victory in the Great Patriotic War.

    The Chinese President emphasized that China and Myanmar are members of a community with a shared future, sharing joys and sorrows and supporting each other. According to him, the Five Principles of Peaceful Coexistence and the “Bandung Spirit” that China and Myanmar jointly uphold have not lost their relevance over time, and their contemporary significance is becoming increasingly visible.

    Recalling that this year marks the 75th anniversary of the establishment of diplomatic relations between the two countries, Xi Jinping assured that China will firmly adhere to the concept and strategy of a friendly, secure and prosperous neighborhood, benevolence, sincerity, mutual benefit, inclusiveness and common destiny.

    China will work with Myanmar to deepen the building of a community with a shared future, advance high-quality cooperation under the Belt and Road Initiative, and implement the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative, which will bring greater benefits to the peoples of both countries, Xi promised.

    He recalled that not long ago a strong earthquake occurred in Myanmar’s Mandalay, which led to large casualties and significant material damage, and noted that China was the first to send rescue teams and provide emergency humanitarian aid. China is ready to continue to provide assistance to Myanmar in its recovery from the disaster, the Chinese leader added.

    The Chinese side, Xi Jinping continued, supports Myanmar in following a development path that suits its national conditions, in protecting its sovereignty, independence, territorial integrity and national stability, and in confidently advancing its domestic political agenda.

    The Chinese president expressed hope that Myanmar will take concrete measures to ensure the safety of Chinese personnel, institutions and projects on its territory, and step up efforts to combat cross-border crimes such as online gambling and telecom fraud.

    Xi called on the parties to jointly uphold the international system with the UN at its core and the international order based on international law, and safeguard the legitimate rights and interests of developing countries.

    Min Aung Hlaing, for his part, noted that after the powerful earthquake in Myanmar, China immediately expressed sincere condolences and was the first to provide assistance in eliminating the consequences of the disaster, demonstrating fraternal friendship and readiness to lend a helping hand in difficult times. The people of Myanmar will always remember this, Min Aung Hlaing assured.

    Under the wise leadership of President Xi Jinping, China has made remarkable progress in advancing Chinese-style modernization, he said, adding that Myanmar attaches great importance to its relations with China and will always be a friendly neighbor that China can trust.

    Min Aung Hlaing said Myanmar is committed to advancing cooperation with China in areas such as economy, trade and energy, and will make every effort to ensure the safety of Chinese projects and personnel on its territory.

    Myanmar highly values the three global initiatives proposed by China and the concept of building a community of shared destiny with neighboring countries, and hopes to work with China to address common challenges, the Myanmar leader added. –0–

    MIL OSI Russia News –

  • MIL-OSI USA News: Military Spouse Day, 2025

    Source: The White House

    class=”has-text-align-center”>By the President of the United States of America
     
    A Proclamation 
     

    Military spouses are the heart and soul of our Armed Forces.  Their unwavering devotion and profound influence enrich our fighting forces and the communities in which they serve.  On Military Spouse Day, we proudly honor the wives and husbands who embrace this noble calling.
    Every day, military spouses share their loved ones with a demanding, no-fail mission.  Yet their own mission is no less daunting — frequent relocations to destinations not of their choosing; heart-wrenching separations; parenting, often alone; and career continuity within a nomadic and uncertain life.  Their ongoing sacrifices are intrinsically linked to family morale, readiness, and retention.  We cannot maintain the world’s most lethal fighting force without the love, selflessness, and support of the military spouses who navigate the unique and challenging demands in life.
    Employment is a critical challenge.  Military spouses face a 21 percent unemployment rate — one of the highest demographics in the country — and a 25 percent wage gap compared to their civilian counterparts.  Frequent relocations hinder job placements, career advancements, and tenures, regardless of their education and experience.  During my first Administration, we made significant strides to improve military spouse employment by enhancing job opportunities within the Federal Government, expanding licensure portability, and increasing remote and flexible job options that provide continuity and financial stability for military spouses.  Earlier this year, I issued a categorical exemption for military spouse employees following the return-to-office directive for Federal civilian employees, and we pledge to pursue additional innovative solutions to help military spouses thrive.
    It takes uncommon devotion and steadfast love to stand alongside those who wear our Nation’s uniform.  Yet, generation after generation, military spouses stand in spite of the uncertainty, global threats, increasing demands, long hours, and the deployments that last months or even years.  They stand –with resilience and resolve — not in the shadow of their loved ones in uniforms, but side by side as an invaluable mission partner and a force multiplier integral to our national defense.  The First Lady and I are in admiration of these volunteer patriots, heroes, and warriors.  Military spouses have our unwavering support, our prayers, and the respect of a grateful Nation.
    NOW, THEREFORE, I, DONALD J. TRUMP, President of the United States of America, by virtue of the authority vested in me by the Constitution and the laws of the United States, do hereby proclaim May 9, 2025, as Military Spouse Day.  I call upon the people of the United States to honor military spouses with appropriate ceremonies and activities.
    IN WITNESS WHEREOF, I have hereunto set my hand this
    ninth day of May, in the year of our Lord two thousand twenty-five, and of the Independence of the United States of America the two hundred and forty-ninth.
     
     
     
                                   DONALD J. TRUMP

    MIL OSI USA News –

  • MIL-OSI USA News: Protecting the Great Lakes from Invasive Carp

    Source: The White House

    MEMORANDUM FOR THE SECRETARY OF THE INTERIOR
                   THE SECRETARY OF COMMERCE
                   THE SECRETARY OF THE ARMY
                   THE ADMINISTRATOR OF THE ENVIRONMENTAL PROTECTION
                          AGENCY

    SUBJECT:       Protecting the Great Lakes from Invasive Carp

    My Administration is committed to protecting the Great Lakes — the world’s largest surface freshwater system, and a highly valued shipping avenue, resource for fishing and recreation, and source of high-quality drinking water — from the economic and ecological threat of invasive carp.  This threat affects every State that borders the Great Lakes:  Illinois, Indiana, Michigan, Minnesota, New York, Ohio, Pennsylvania, and Wisconsin.  Curbing this threat requires immediate and effective deployment of resources, infrastructure, and expertise.  The Federal Government is prepared to do its part, but the States where preventative measures can be taken must cooperate.

    For several decades, invasive species of Asian carp have steadily migrated and expanded from the Southeast northward through streams, rivers, and lakes in the Mississippi River and Midwest region.  Asian carp, which can exceed 100 pounds in weight, spread rapidly by outcompeting native fish populations for food and space.  They also reduce water quality.  These invasive carp are nearing the entry point to the Great Lakes, which, if breached, would irreparably damage native fish species like walleye, yellow perch, and lake whitefish.  This poses a significant risk to Great Lakes fishing, boating, recreation, and tourism, which support tens of thousands of jobs and billions of dollars of commerce annually. 

    The Brandon Road Interbasin Project near Joliet, Illinois, was authorized for construction in the Water Resources Development Act of 2020 (Public Law 116-260) and would provide multiple layers of innovative technological deterrents designed to prevent invasive carp from reaching the Great Lakes.  It is a joint project involving the United States Army Corps of Engineers (Army Corps) and the States of Illinois and Michigan.

    The Federal Government has provided $274 million for this project, has undertaken design work, has started site preparation, and is ready to begin construction of deterrent measures.  In February 2025, however, Illinois Governor J.B. Pritzker decided to delay the State’s acquisition of property, which is necessary for construction to begin.  Once Illinois acquires the land, it must also issue the Army Corps a State-level permit to begin construction.

    My Administration fully supports preventing the spread of invasive carp.  The State of Illinois, where the Brandon Road Interbasin Project is located, must cease further delay in cooperating with this effort, for the sake of its own citizens and economy and for the sake of all of the Great Lakes States. 

    I am directing my Administration to achieve maximum speed and efficiency at the Federal level.  Specifically, the Secretary of the Interior, the Secretary of Commerce, the Secretary of the Army, and the Administrator of the Environmental Protection Agency shall determine and expeditiously implement the most effective mechanisms, barriers, and other measures to prevent the migration and expansion of invasive carp in the Great Lakes Basin and the surrounding region.  This includes supporting the Brandon Road Interbasin Project, through deadline-oriented investments of taxpayer dollars, to ensure the State of Illinois does not stand in the way of its construction. 

    Specifically, for this project to remain on schedule so that it can effectively fulfill its purpose and constitute a worthy investment of taxpayer resources, the State of Illinois should acquire the necessary land to begin construction of the Brandon Road Interbasin Project by July 1, 2025, and the State of Illinois and any applicable localities should grant all permits or approvals required to facilitate Army Corps construction within 30 days of such permits or approvals becoming ripe for consideration by the State or locality and should streamline all permitting and environmental reviews to the maximum degree.  Federal agency heads shall similarly streamline any permitting and environmental reviews and issue any requisite Federal permits or approvals as quickly as possible.

    Additionally, the Administrator of the Environmental Protection Agency shall prioritize support for infrastructure projects to remove invasive carp from the Upper Illinois Waterway near Lake Michigan and for maintenance on existing infrastructure to block invasive carp from reaching and entering the Great Lakes Basin.

    The Administrator of the National Oceanic and Atmospheric Administration (NOAA) and the Director of the United States Fish and Wildlife Service, through their joint operation of the Aquatic Nuisance Species Task Force, shall prioritize support for research and management concerning the prevention, removal, and management of aquatic invasive species in the Great Lakes, including invasive carp.  The Administrator of NOAA shall also prioritize this objective through the Great Lakes Aquatic Nuisance Species Information System and NOAA’s research and information-sharing work related to the growth and spread of aquatic invasive species.

                                   DONALD J. TRUMP

    MIL OSI USA News –

  • MIL-OSI USA: Attorney General Bonta Doubles Down on CFPB Support

    Source: US State of California

    Urges court to keep order that will protect the agency from further dismemberment 

    OAKLAND — California Attorney General Rob Bonta today announced joining a coalition of 23 attorneys general in submitting an amicus brief in National Treasury Employees Union v. Vought, a lawsuit challenging the Trump Administration’s efforts to dismantle the Consumer Financial Protection Bureau (CFPB). In February, Attorney General Bonta submitted an initial amicus brief in this case, which was followed by the court granting a robust preliminary injunction, a decision that prevents the Trump Administration from moving forward with mass layoffs while litigation in this case proceeds. The Trump Administration has now appealed the preliminary injunction, asking the court to strike it down to allow further dismantling of the CFPB to continue. In today’s amicus brief, the attorneys general argue that shuttering the CFPB would cause catastrophic harm to consumer protections nationwide. These actions by the Trump Administration trample over the decision of Congress to create the agency, violating the separation of powers under the U.S. Constitution. 

    “Further demolishing the CFPB, the top cop protecting Americans from exploitation, would put families nationwide at a stark disadvantage when standing up to big businesses who aren’t playing by the rules,” said Attorney General Bonta. “I urge the court to keep in place the order preventing the Trump Administration from issuing mass layoffs at the CFPB — its loss would have devastating and deep implications for California, and the financial well-being of households across the nation.”

    In the brief, filed in the United States Court of Appeals for the District of Columbia Circuit, the attorneys general argue the dismantling of the CFPB will cause irreparable harm to consumers and the states’ own consumer protection enforcement efforts, leave no oversight over large national banks, and will rapidly and substantially increase the burden on state agencies to protect consumers from conduct regulated by the CFPB. The loss of the CFPB’s partnership has concrete and widespread implications: from the sharing of complaints and trend data, to providing training, to partnering on joint investigations and litigations, the CFPB has been a force multiplier for California’s consumer protection efforts.

    Background
      
    After examining the fallout of the 2008 financial crisis, Congress concluded the crisis resulted in part from the failure of federal banking and other regulators to address significant consumer protection issues detrimental to both consumers and the safety and soundness of the banking system. In direct response to these events, Congress established the CFPB and tasked it with enforcing numerous federal consumer protection statutes and enacting regulations to further these efforts. For over a decade, the CFPB has served as an invaluable partner to state attorneys general and state banking regulators, both by working to protect consumers against fraudulent and abusive practices and by advancing a fair and level playing field in consumer financial markets by issuing regulations under federal law. 
     
    In the last months, the Trump Administration has taken a series of actions intended to debilitate the CFPB, including issuing a suspension of work across the agency, terminating probationary employees, and announcing a decision not to draw additional funding from the Federal Reserve. These actions appear to be part of a unilateral effort to permanently shut down the agency, including programs and operations mandated by federal law. Most recently, the Trump Administration issued reduction in force notices to 90% of the CFPB’s workforce — a move that was swiftly blocked by the courts.

    Attorney General Bonta has been a vocal supporter of CFPB. In February, Attorney General Bonta submitted an amicus brief in another case, Mayor and City Council of Baltimore v. Consumer Financial Protection Bureau. 
     
    In filing the brief, Attorney General Bonta joins the attorneys general of New York, New Jersey, the District of Columbia, Arizona, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Mexico North Carolina, Oregon, Rhode Island, Vermont, Washington, and Wisconsin.

    A copy of the brief can be found here.  

    MIL OSI USA News –

  • MIL-OSI Submissions: Economy – Global Barometers indicate a slowdown in world economy – KOF

    Source: KOF Economic Institute

    The Coincident and Leading Barometers decrease for the third consecutive month. This time more markedly, reflecting rising uncertainty due to escalating trade tensions and the prospect of slower growth in several regions.

    In May, the Global Economic Coincident Barometer decreases by 3.6 points to 92.2 points, the lowest level since February 2023, when it recorded 89.0 points. The Leading Barometer, in turn, drops by 3.9 points to 95.9 points. The falls are mainly driven by the Asia, Pacific & Africa and Western Hemisphere regions.

    “Given the geopolitical tensions, it is probably not really surprising that both global barometers show a further decline this month. While it has been most pronounced in the Americas and Asia, led by the US and China, Europe has not been entirely immune. Here, hopes are pinned on the new German government to revive the German, and hence the European, economy and thus counteract the negative impact of trade tensions” comments KOF Director Jan-Egbert Sturm on the latest results of the Global Economic Barometers.

    Coincident Barometer – regions and sectors

    The 3.6-point decrease in the Coincident Barometer in May is primarily due to the negative contribution of 1.9 points from the Asia, Pacific & Africa region and 1.5 points from the Western Hemisphere. Europe contributes slightly, with -0.2 points, to the decrease in the aggregated indicator. This is the third consecutive decrease in the Western Hemisphere indicator, which accumulates losses of over 15 points during the period and reaches 87.2 points, the lowest level since June 2023 (86.8 pts.). The region shows the lowest level among the regional coincident indicators.

    All coincident sectoral indicators decrease in May, with the most noticeable declines in Industry and the Economy indicator (which is based on variables representing overall business and consumer evaluations). The Services sector continues to record the lowest level among the sectors.

    Leading Barometer – regions and sectors

    The regional contributions to the decrease in the Global Leading Barometer in May follow the same pattern observed in the Coincident indicator: the strongest contribution, of -2.6 points, comes from the Asia, Pacific & Africa region, followed by the Western Hemisphere, with -1.2 points. Europe contributes with -0.1 points to the aggregated result. The Western Hemisphere Leading Indicator diverges from the other regions and continues to record the lowest level among them. The Leading Global Barometer leads the world economic growth rate cycle by three to six months on average.

    Among the leading sectoral indicators, only the Services indicator rises slightly this month. The most marked decreases are seen in the Economy (which is based on variables representing overall business and consumer evaluations), Trade, and Industry indicators. As a result, the Trade indicator falls into the 80-point range, reaching its lowest level since October 2023 (87.5 pts.). The Economy indicator also returns to its lowest level since 2023.

    MIL OSI – Submitted News –

  • MIL-OSI USA: Congresswoman Bice Applauds President Trump’s Signing of Her Legislation to Overturn Burdensome Refrigeration Regulations 

    Source: United States House of Representatives – Congresswoman Stephanie Bice (OK-05)

    Washington, D.C. – Today, Congresswoman Bice joined President Donald J. Trump at the White House as he signed her legislation H.J.Resolution 24, into law. The resolution permanently nullifies restrictive Biden-era regulations on walk-in coolers and freezers, which placed significant financial strain on small businesses and highlighted blatant federal overreach. 

    “Today is a victory for America’s small businesses,”said Congresswoman Bice. “I was honored to stand with President Trump as he signed my legislation into law. From pharmacies and food banks to restaurants and convenience stores, industries that rely on commercial refrigeration will no longer be burdened by this regulation. By overturning this rule, we are protecting economic freedom, preserving consumer choice, and ensuring businesses aren’t forced to bear unnecessary costs. I’m grateful to my colleagues in Congress who recognized the need to act decisively. With the President’s signature, we’ve taken a meaningful step to rein in bureaucracy, keep costs low, and restore commonsense to federal rulemaking.” 

    The now-signed resolution was introduced by Rep. Bice under the Congressional Review Act to stop the Biden Administration’s Department of Energy’s December 2024 rule, which would have imposed costly new energy efficiency mandates on commercial refrigeration units. The rule, with an estimated compliance cost of nearly $1 billion, was widely criticized by businesses, manufacturers, and consumer advocacy groups for increasing operational costs while delivering minimal energy savings. Rep. Bice’s legislation received bipartisan support in the House, reflecting broad concern over the regulatory overreach. 

    MIL OSI USA News –

  • MIL-OSI New Zealand: Trade Minister travels to UK & Korea for trade talks

    Source: NZ Music Month takes to the streets

    Trade and Investment, and Agriculture Minister, Todd McClay travels to the United Kingdom today to participate in the first in-person joint NZ UK Ministerial Trade Committee and to mark the two-year anniversary of the entry into force of the New Zealand United Kingdom Free Trade Agreement (FTA). 

    “Better access to overseas markets is an important part of the Government’s economic plan to grow the economy and create better paying jobs, Minister McClay says. 

    The NZ-UK FTA has seen a 21 per cent boost in Kiwi exports worth an additional $644.4 million over the two years since the deal came into force. This is delivering real benefits for Kiwi exporters.

    “The results speak for themselves —goods exports to the UK have risen by 20 per cent, and services exports are up over 22 per cent in just two years, Mr McClay says. 

    “And the primary sector is leading the way with big increases in food and fibre exports along with travel and tech.   

    • Meat exports are up 46% to nearly $500 million
    • Dairy exports are up a staggering 139% worth $198 million
    • Fruit and nuts are up 52% worth $54 million
    • Travel service exports are up 22% to nearly $1 billion
    • Tech-related services exports are up 50% to $221 million 

    While in the UK, Minister McClay will meet with his trade and agriculture counterparts, the Rt Hon Jonathan Reynolds, Secretary of State for Business and Trade, Rt Hon Steve Reed OBE, Secretary of State for Environment, Food and Rural Affairs, as well as the UK Trade Envoy to New Zealand, Carolyn Harris.

    He will also engage with key partners and stakeholders, including Waitrose and the National Farmers Union, visit local farms, and connect with New Zealand businesses operating in London.

    The UK is New Zealand’s 7th largest trading partner, with two-way trade worth $7.27 billion. In 2024, New Zealand exported $3.69 billion in goods and services to the UK

    Minister McClay will then travel from the UK to Korea on Tuesday of next week to participate in the APEC Trade Ministers meeting where he will hold bilateral meetings with APEC and CPTPP trading partners.  

    MIL OSI New Zealand News –

  • MIL-OSI Economics: STATEMENT—Solar to accelerate Quebec’s energy transition 

    Source: – Press Release/Statement:

    Headline: STATEMENT—Solar to accelerate Quebec’s energy transition 

    CanREA welcomes Hydro-Québec’s plan to develop 3,000 MW of solar power by 2035.   

    Montreal, May 6, 2025– the Canadian Renewable Energy Association (CanREA) applauds Hydro-Québec’s commitment to purchase 3000 MW of solar power by 2035, starting with the launch of a 300 MW RFP, as announced today by Hydro-Québec’s CEO, Michael Sabia. This is an important first for Quebec. 

     “This announcement is a huge step forward for the solar industry in Quebec. We are very pleased to see Hydro-Québec pursuing the deployment of solar energy,” said Jean Habel, CanREA’s Senior Director for Quebec and Atlantic Canada.   

    The deployment of solar will be an asset for Quebec’s energy transition, given that high greenhouse-gas-emitting sources still account for half of Quebec’s energy portfolio. 

    Quebec diversifies its energy mix with solar power 

    Hydro-Québec’s solar energy plan, “Le solaire : une autre étape vers la diversification énergétique – Une approche évolutive pour une ambition de 3 000 MW d’énergie solaire au Québec” (in French only) represents a breakthrough for the solar sector in Quebec, which currently produces 17 MW of solar energy, just 0.31% of the 5,400 MW already installed across Canada.  

    “Every kilowatt of renewable energy contributes to achieving our climate goals. Hydro-Quebec’s solar plan proposes to take several actions simultaneously. Diversifying Quebec’s energy mix will help accelerate its energy transition,” said Habel.  

    A three-stage solar deployment  

    Quebec’s new solar plan will proceed in three phases: a new call for tenders for grid-connected solar farms, the potential development of larger projects, and new support for residential and commercial BTM solar.  

    “CanREA appreciates the predictability of Quebec’s solar plan, with a pathway that looks ahead to 2035. We expect to see new solar farms of various sizes, built in collaboration with developers, local communities and Indigenous communities, as well as the installation of solar panels on homes and businesses, for those who wish to produce their own power,” added Habel.  

    CanREA has long advocated for clear procurement targets that provide more long-term certainty for the renewable industry in Quebec, and for measures that encourage the deployment of decentralized energy resources, such as net metering.  

    Fewer than 1,000 households currently use net metering in Quebec. In order to achieve Hydro-Québec’s goal of the equivalent of 125,000 customers by 2035, CanREA recommends that the threshold be raised to 1 MW, as it is in Nova Scotia. 

    CanREA also recommends that a subsidy be implemented by 2026 for the installation of solar panels on homes and businesses. This will significantly boost interest in BTM solar, as noted in the Dunsky Energy + Climate Advisors report, “BTM Solar: Canadian Market Outlook,”  which highlights the importance of onsite solar to Canada’s energy future, and the importance of financial incentives to encourage customer buy-in.   

    What’s more, businesses can now get a 30% federal tax credit on the capital cost of their investment in renewable technologies, such as solar energy, until 2034.   

    To learn more about the energy transition in Quebec, look no further than the second edition of the CanREA Quebec Net-Zero Summit, on May 15, 2025, in Montreal. More information is available here.

    Quotes 

    “This announcement is a huge step forward for the solar industry in Quebec. We are very pleased to see Hydro-Québec pursuing the deployment of solar as an energy source.”   

    “Every kilowatt of renewable energy contributes to achieving our climate goals. Hydro-Quebec’s solar plan proposes to take several actions simultaneously. Diversifying Quebec’s energy mix will help accelerate its energy transition.”  

    “CanREA appreciates the predictability of Quebec’s solar plan, with a pathway that looks ahead to 2035. We expect to see new solar farms of various sizes, built in collaboration with developers, local communities and Indigenous communities, as well as the installation of solar panels on homes and businesses, for those who wish to produce their own power.” 

    —Jean Habel, Senior Director, Quebec and Atlantic Canada, Canadian Renewable Energy Association (CanREA) —Jean Habel, Senior Director, Quebec and Atlantic Canada, Canadian Renewable Energy Association (CanREA) ‘

    For media inquiries or interview opportunities, please contact: 

    Communications Canadian Renewable Energy Association 613-227-5378 communications@renewablesassociation.ca 

    About CanREA 

    The Canadian Renewable Energy Association (CanREA) is the voice for wind energy, solar energy and energy storage solutions that will power Canada’s energy future. We work to create the conditions for a modern energy system through stakeholder advocacy and public engagement. Our diverse members are uniquely positioned to deliver clean, low-cost, reliable, flexible and scalable solutions for Canada’s energy needs. For more information on how Canada can use wind energy, solar energy and energy storage to help achieve its net-zero commitments, consult “Powering Canada’s Journey to Net-Zero: CanREA’s 2050 Vision.” Follow us on Bluesky and LinkedIn. Subscribe to our newsletter here. Learn more at renewablesassociation.ca. 
    The post STATEMENT—Solar to accelerate Quebec’s energy transition  appeared first on Canadian Renewable Energy Association.

    MIL OSI Economics –

  • MIL-OSI USA News: Fact Sheet: President Donald J. Trump Establishes Project Homecoming

    Source: The White House

    ESTABLISHING PROJECT HOMECOMING: Today, President Donald J. Trump signed a proclamation establishing Project Homecoming to encourage illegal aliens to voluntarily depart the United States.

    • The proclamation offers illegal aliens a choice: leave voluntarily with Federal support and financial assistance or face strict enforcement and penalties.
    • It creates a streamlined process for departure using the CBP Home app, provides government-funded flights at no cost to illegal aliens, facilitates travel for those lacking valid travel documents, and offers a concierge service at airports to assist with booking travel and claiming an exit bonus. 
    • The proclamation establishes an “exit bonus” as a financial incentive for illegal aliens who agree to voluntarily and permanently depart the United States.
    • It launches a nationwide communications campaign to inform illegal aliens of the Project Homecoming program and of the consequences of remaining, including removal, prosecution, fines, wage garnishment, and property confiscation.
    • It directs a full-scale, aggressive deportation surge, including with an additional 20,000 officers, for illegal aliens who do not depart voluntarily.

    SHRINKING THE ILLEGAL ALIEN POPULATION IN THE UNITED STATES: President Trump is fulfilling his legal obligation to end this invasion and protect the American people.

    • Under the previous administration, the southern border was overrun by cartels, criminal gangs, suspected terrorists, human traffickers, smugglers, and illicit narcotics.
    • The Biden Administration’s lenient border policies allowed thousands of illegal aliens to enter the United States daily, with 40% of catch-and-release migrants totally disappearing.
    • At one point in 2024, illegal aliens made up 75% of arrests in Midtown Manhattan for crimes like assault, robbery, and domestic violence.
    • Illegal immigration strains American schools and hospitals, limiting their capacity to serve citizens, and diverts billions of dollars in Federal, state, and local social services from Americans in need.
    • In fiscal year 2023, the fiscal burden of illegal aliens was estimated to exceed $150 billion in taxpayer dollars, covering costs like health care, food stamps, housing, education, and emergency services.
    • By incentivizing voluntary departure, Project Homecoming aims to reduce these costs and restore resources for American citizens.

    ENDING THE INVASION: President Trump has delivered on his promise to secure the border and prioritize the needs of American citizens, taking immediate action to put an end to the previous Administration’s border crisis. Since taking office, President Trump has:

    • Declared a national emergency at the southern border.
    • Deployed additional personnel to the border, including members of the Armed Forces and the National Guard.
    • Restarted border wall construction.
    • Designated international cartels and other criminal organizations – such as MS-13 and Tren de Aragua – as Foreign Terrorist Organizations and Specially Designated Global Terrorists.
    • Suspended the entry of aliens into the U.S.
    • Called for enhanced vetting and screening of aliens.
    • Required the identification of countries that warrant a partial or full suspension on the admission of nationals.
    • Restarted the detention and removal of aliens who are in violation of Federal law.
    • Directed the Administration to resume the Migrant Protection Protocols – also known as “Remain in Mexico.”
    • Ended the use of the CBP One app.
    • Terminated all categorical parole programs, such as the “Processes for Cubans, Haitians, Nicaraguans, and Venezuelans,” that are contrary to President Trump’s immigration agenda.
    • Ended automatic citizenship for children of illegal aliens.
    • Paused the operation of the U.S. Refugee Admissions Program (USRAP).
    • Ended catch-and-release policies.
    • Revoked Biden’s disastrous executive actions that essentially opened our southern border.
    • Detained the most dangerous illegal criminal aliens in Guantanamo Bay and El Salvador’s prisons.  
    • Removed the monetary incentive for illegal aliens to come to the United States in the first place by ensuring they do not receive taxpayer-funded resources.

    MIL OSI USA News –

  • MIL-OSI USA: VIDEO: In Boston, Pressley, Advocates Condemn Trump Attacks on Museums, Affirm Importance of Preserving Shared History

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

    Congresswoman Convenes Roundtable and Presser at Boston Museum of African American History

    Pressley Recently Demanded Investigation into Trump’s Attack on Smithsonian and Museums, Brazen Attempt to Whitewash History

    Roundtable Video | Press Conference Video | Photos

    BOSTON – Today, Congresswoman Ayanna Pressley (MA-07) convened a roundtable and press conference at the Museum of African American History in Boston to uplift the vital role of museums in preserving our shared history amid Donald Trump’s attack on cultural institutions and his attempts to erase the documented histories of marginalized communities.

    Last week, Congresswoman Pressley and Rep. Tonko (NY-20), Co-Chair of the Congressional Museum Caucus, led 69 of their colleagues in demanding an investigation into the impact of Trump’s harmful Executive Order attacking Smithsonian museums – namely, the American Art Museum, the American Women’s History Museum, and the National Museum of African American History and Culture.

    “I want every single person to walk into our museums—from the Smithsonians in Washington to the African American History Museum in Boston, to other museums in Massachusetts and beyond—and see our collective, accurate history on full display,” said Congresswoman Pressley. “With occupant Trump and Republicans carrying out a coordinated assault on Black history and the histories of marginalized communities, it’s imperative that we support our local museums in preserving the integrity of American history and culture. I’m so grateful to the African American History Museum and our local leaders for their partnership in pushing back against these harmful attacks and telling this hostile White House: hands off our museums.”

    Joining Congresswoman Pressley at the convening were Boston Mayor Michelle Wu, Dr. Noelle Trent of the Museum of African American History, Lydia Lowe of the Chinatown Community Land Trust and the Immigrant History Trail, Barry Gaither of the National Center of Afro-American Artists, Bethann Steiner and Marc Carroll of the Mass Cultural Council, and local leaders and community members.

    “Boston’s cultural institutions and museums are anchors in our communities and critical in fostering belonging for all. I’m grateful to Congresswoman Pressley for her bold leadership in bringing leaders across our cultural sector together and challenging these attacks against our institutions,” said Mayor Michelle Wu. “Our cultural institutions here in Boston and across the country remind us where we have been, where we are now and where we are going. We will continue to partner with Congresswoman Pressley and our Museum leaders to protect and preserve our shared history. Boston has always been a city that stands up for our communities and we will continue our work to make our city a home for everyone.” 

    “The Museum of African American History Boston | Nantucket stands as a powerful reminder of the indispensable contributions Black Americans have made to our nation’s history,” said Dr. Noelle Trent, President and CEO of the Museum. “I’m grateful for elected officials like Congresswoman Ayanna Pressley, Mayor Michelle Wu, Governor Maura Healey, the Boston City Council, as well as community leaders, who are committed to standing with us in this ongoing effort. We will not be erased—we will continue to safeguard our truth and honor our legacy, because our stories are foundational to the American story.”

    “As the Commonwealth’s state arts agency, Mass Cultural Council thanks Congresswoman Pressley for convening this morning’s conversation. We believe in the power of culture and that the arts, humanities, and sciences are a public good. Public investment at the federal level is threatened in our sector and today the Congresswoman shined a light on the dangers of this decision. This is a $29 billion economic sector in Massachusetts. Arts and culture means creativity, good health, and a strong and vibrant economy,” said Marc Carroll, Chair, Mass Cultural Council.

    “As an Asian American member of Boston’s Commemoration Commission, which is focusing on sharing the untold stories of our nation’s 250th anniversary, I am grateful to Congresswoman Pressley and Mayor Wu for standing up for truth telling and a national story that includes us all,” said Lydia Lowe of the Chinatown Community Land Trust and the Immigrant History Trail. “We need to learn from our history in order to make a better future.”

    To view photos from today’s convening, click here. For video of the roundtable, click here. For video of the press conference, click here.

    Last month, Rep. Pressley spoke out on the House Floor condemning the Executive Order and affirming that Black history is American history. Rep. Pressley has also joined Rep. Dina Titus (NV-01) and 126 of their colleagues urging President Trump to reconsider his executive order dismantling the Institute of Museum and Library Services. Congresswoman Pressley also joined Senator Elizabeth Warren (D-MA) and their Massachusetts delegation colleagues demanding answers about the Trump Administration’s staffing cuts at the National Endowment for the Humanities (NEH) and attempts to cancel NEH grants in Massachusetts and across the country.

    Rep. Pressley has been an outspoken champion for intellectual freedom and diversity, equity, and inclusion programs, and she has been on the front lines of the fight against Trump and Republicans’ efforts to ban books and erase Black history.

    In April, Rep. Pressley delivered a floor speech slamming Trump’s attack on Smithsonian museums and affirming that Black history is American history.

    Rep. Pressley is also the author of the Books Save Lives Act legislation to confront the rise of book bans in America and ensure inclusive learning environments.

    Earlier this year, amid the unprecedented onslaught against diversity, equity, and inclusion initiatives from the Trump Administration, Congresswoman Pressley re-introduced H.R. 40, legislation to establish a federal commission to examine the lasting legacy of slavery and develop reparations proposals for African American descendants of enslaved people.

    Last year, Rep. Pressley and House Oversight Ranking Member Jamies Raskin introduced the Federal Government Equity Improvement Act and the Equity in Agency Planning Act to codify racial equity across federal agencies and improve government services for underserved communities.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Cortez Masto Fights to End Crypto Corruption by Trump and Other Elected Officials

    US Senate News:

    Source: United States Senator for Nevada Cortez Masto
    Washington, D.C. – U.S. Senator Catherine Cortez Masto (D-Nev.) joined Senator Jeff Merkley (D-Ore.) and Senate Democratic Leader Chuck Schumer (D-N.Y.) in spearheading an effort to crack down on cryptocurrency-related corruption by elected officials at the highest levels of the federal government, including the presidency.
    “There is no room in the American democratic system for the president to be personally enriching himself directly or indirectly from decisions he makes while in office,” said Senator Cortez Masto. “Congress must immediately pass this commonsense legislation to root out public corruption and prevent illegal foreign influence for this or any future administration.”
    The End Crypto Corruption Act bans the President, Vice President, Senior Executive Branch Officials, Members of Congress, and their immediate families from financially benefiting from issuing, endorsing, or sponsoring crypto assets, such as meme coins and stablecoins. As story after story outline President Trump’s crypto deals and his mounting conflicts of interest, the End Crypto Corruption Act directly addresses and curbs the Trump Administration’s apparent self-dealing.
    Democracy Defenders Action and Public Citizen have endorsed the End Crypto Corruption Act.
    The full text of the legislation can be found here.
    Cortez Masto has continually pushed to end public corruption. She has supported legislation that would prevent lawmakers from trading stocks. Cortez Masto has long championed actions to crack down on dark money in politics. She has cosponsored legislation to require organizations spending money in federal elections to disclose their donors and help guard against hidden foreign influence in our democracy.

    MIL OSI USA News –

  • MIL-OSI: AGF Investments Announces Proposed Investment Objective Changes

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 09, 2025 (GLOBE NEWSWIRE) — AGF Investments Inc. (AGF Investments) (TSX:AGF.B) today announced proposed changes to the investment objectives of AGF Short-Term Income Class and AGF Global Sustainable Growth Equity Fund, subject to securityholder approval.

    Proposed Investment Objective Changes

    At the special meetings of securityholders to be held on June 26, 2025, subject to extension or adjournment thereof, securityholders of each of AGF Short-Term Income Class and AGF Global Sustainable Growth Equity Fund will be asked to approve the following proposed changes in the investment objective of each fund:

    Fund Current Investment Objective Proposed Investment Objective
    AGF Short-Term Income Class The Fund’s objective is to provide maximum income while preserving capital and liquidity. It invests primarily in short-term instruments, government guaranteed securities and corporate paper with a minimum A credit rating. The Fund’s objective is to provide maximum income, while preserving capital and liquidity. It invests primarily in Canadian money market instruments, such as Canadian treasury bills.
    AGF Global Sustainable Growth Equity Fund The Fund’s investment objective is to provide long-term capital appreciation by investing primarily in a diversified portfolio of equity securities, globally, which fit the Fund’s concept of sustainable development. The Fund’s investment objective is to provide long-term capital appreciation by investing in companies that are delivering a positive sustainability impact by providing solutions to the key challenges in sustainable development.

    The proposed investment objectives of these funds, if approved, are expected to be implemented on or about July 1, 2025. Notwithstanding the receipt of securityholder approval, AGF Investments may postpone implementing the change for a fund until a later date or may elect not to proceed with the changes at all, if it considers such decision to be in the best interests of the securityholders of that fund.

    If the proposed investment objective changes of AGF Short-Term Income Class and AGF Global Sustainable Growth Equity Fund are approved and implemented, the investment strategies of AGF Short-Term Income Class and AGF Global Sustainable Growth Equity Fund are expected to be amended.

    Additional information regarding the proposed change in investment objectives, including a discussion of certain Canadian federal income tax considerations, will be provided in the funds’ management information circular. In advance of the special meetings, a notice-and-access document will be mailed to securityholders of record as at May 12, 2025. The notice-and-access document will describe the various ways in which securityholders can obtain a copy of the management information circular.

    Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances the fund will be able to obtain its net asset value at a constant amount or that the full amount of your investment in the fund will be returned to you. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

    About AGF Management Limited

    Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth.

    AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm’s collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.

    Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. With over $51 billion in total assets under management and fee-earning assets, AGF serves more than 815,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

    About AGF Investments

    AGF Investments is a group of wholly owned subsidiaries of AGF Management Limited, a Canadian reporting issuer. The subsidiaries included in AGF Investments are AGF Investments Inc. (AGFI), AGF Investments America Inc. (AGFA), AGF Investments LLC (AGFUS) and AGF International Advisors Company Limited (AGFIA). The term AGF Investments may refer to one or more of these subsidiaries or to all of them jointly. This term is used for convenience and does not precisely describe any of the separate companies, each of which manages its own affairs.

    AGF Investments entities only provide investment advisory services or offers investment funds in the jurisdiction where such firm and/or product is registered or authorized to provide such services.

    AGF Investments Inc. is a wholly-owned subsidiary of AGF Management Limited and conducts the management and advisory of mutual funds in Canada.

    Media Contact

    Amanda Marchment
    Director, Corporate Communications
    416-865-4160
    amanda.marchment@agf.com  

    The MIL Network –

  • MIL-OSI: Lendmark Financial Services Expands ‘Palmetto State’ Presence to 23 Branches, Marking its First Location in Boiling Springs and Ninth Portfolio Opening in 2025

    Source: GlobeNewswire (MIL-OSI)

    BOILING SPRINGS, S.C., May 09, 2025 (GLOBE NEWSWIRE) — Lendmark Financial Services (Lendmark), a leading provider of household credit and consumer loan solutions, continues to expand its South Carolina footprint, opening a new branch in Boiling Springs.

    The branch is located at 2650 Boiling Springs Rd. and is expected to serve hundreds of customers in its first year. Teanna Harvey Wested, who serves as the branch manager, will be responsible for the administration of all daily operations. These include building personal relationships with customers and integrating into the community to ensure area residents receive a superior level of individualized loan services that meet their unique financial needs.

    “Nestled in the foothills of the Appalachian Mountains, we’re excited to bring our distinct Lendmark standard of service to the Boiling Springs community as we welcome customers to our very first branch in this charming town,” said Travis M. Bowman, Vice President of Branch Operations at Lendmark. “With plans to continue expanding around Upstate South Carolina, we’re uniquely positioned and well-equipped to offer strategic financial guidance to area residents while supporting them throughout every stage of their planned and unplanned life events.”

    In addition to serving consumers directly, Lendmark provides financing solutions for thousands of retailers and independent auto dealerships, allowing these businesses’ customers to obtain Lendmark financing. Local businesses that are interested in partnering with Lendmark to provide financing solutions for their customers should visit the branch or call 864-256-0064.

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

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

    About Lendmark Financial Services
    Lendmark Financial Services (Lendmark) provides personal and household credit and loan solutions to consumers. Founded in 1996, Lendmark strives to be the lender, employer, and partner of choice by offering stability and helping consumers meet both planned and unplanned life events through affordable loan offerings. Today, Lendmark operates more than 520 branches in 22 states across the country, providing personalized services to customers and retail business partners with every transaction. Lendmark is headquartered in Lawrenceville, Ga. For more information, visit www.lendmarkfinancial.com.

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

    The MIL Network –

  • MIL-OSI: Lendmark Financial Services Debuts its First Location in West Bend, Wisconsin Expanding its Wisconsin Presence to 11 Branches, and its 10th Portfolio Opening in 2025

    Source: GlobeNewswire (MIL-OSI)

    WEST BEND, Wis., May 09, 2025 (GLOBE NEWSWIRE) — Lendmark Financial Services (Lendmark), a leading provider of household credit and consumer loan solutions, continues to expand its Wisconsin footprint, opening a new branch in West Bend.

    The branch is located at 1016 Gateway Ct. and is expected to serve hundreds of customers, retailers, and auto dealerships in its first year. Colleen Pettis, who serves as the branch manager, will be responsible for the administration of all daily operations. These include building personal relationships with customers and integrating into the community to ensure area residents receive a superior level of individualized loan services that meet their unique financial needs.

    “Located in Washington county, just 30 minutes north of Milwaukee, West Bend is known for its historic and charming downtown. Having the privilege to serve this bustling community and provide top-notch Lendmark service is exciting,” said Michael McIntire, Vice President of Branch Operations at Lendmark. “This is our 11th location in Wisconsin, and we look forward to furthering our growing reach within the community and the state. Meeting the financial needs of this vibrant community and positively impacting the economy is where we thrive.”

    In addition to serving consumers directly, Lendmark provides financing solutions for thousands of retailers and independent auto dealerships, allowing these businesses’ customers to obtain Lendmark financing. Local businesses that are interested in partnering with Lendmark to provide financing solutions for their customers should visit the branch or call 262-343-8088.

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

    About Lendmark Financial Services
    Lendmark Financial Services (Lendmark) provides personal and household credit and loan solutions to consumers. Founded in 1996, Lendmark strives to be the lender, employer, and partner of choice by offering stability and helping consumers meet both planned and unplanned life events through affordable loan offerings. Today, Lendmark operates more than 520 branches in 22 states across the country, providing personalized services to customers and retail business partners with every transaction. Lendmark is headquartered in Lawrenceville, Ga. For more information, visit www.lendmarkfinancial.com.

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

    The MIL Network –

  • MIL-OSI Russia: Xi Jinping Calls for Advancing Construction of Chinese-Serbian Community of Shared Future

    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

    Moscow, May 9 /Xinhua/ — China and Serbia should develop unbreakable friendship, strengthen mutually beneficial cooperation and advance the high-quality construction of a China-Serbia community with a shared future, Chinese President Xi Jinping said on Friday.

    Xi Jinping made the statement during a meeting with Serbian President Aleksandar Vucic on the sidelines of celebrations marking the 80th anniversary of the Soviet Union’s victory in the Great Patriotic War.

    Recalling his successful state visit to Serbia last May, Xi Jinping noted that over the past year, the construction of a Chinese-Serbian community with a shared future in the new era has made a good start and brought results that are obvious to all.

    As the world undergoes accelerated changes unseen in a century and numerous risks and challenges pile up, China and Serbia must maintain strategic resolve and focus on doing their own affairs well, Xi said.

    China, the PRC Chairman continued, is ready to deepen strategic communication with Serbia, strengthen mutual support, enhance trade and investment cooperation, continue to support the construction and operation of relevant projects, fully utilize their demonstration effect and achieve new results that bring mutual benefit and common gain.

    Xi Jinping stressed that 80 years ago, the peoples of China and Serbia made important contributions to the victory in the World Anti-Fascist War in the Asian and European theatres of war, respectively.

    China hopes to work with all countries in the world, including Serbia, to confront challenges through unity and cooperation, jointly uphold world peace, international fairness and justice, safeguard the achievements of economic globalization, and promote the building of a community with a shared future for mankind, the Chinese leader added.

    A. Vučić, for his part, noted that China is Serbia’s most valuable friend, which constantly offers its selfless support and assistance to help Serbia develop its economy and improve the well-being of its people.

    Serbia firmly adheres to the one-China principle and consistently proceeds from the fact that Taiwan is an integral part of Chinese territory, the president assured.

    Serbia is ready to expand trade and economic exchanges with China, A. Vucic continued, stating that his country invites even more Chinese enterprises to invest and establish business in Serbia and will create a favorable business environment for them.

    The President expressed hope that China will take an active part in the specialized exhibition EXPO-2027 in Belgrade.

    A. Vucic praised China’s continued support for multilateralism, noting that China’s ideas and actions strengthen the courage and confidence of the international community in protecting common interests.

    Serbia expects to work together with China to counter the challenges of unilateralism and protectionism, A. Vucic added. –0–

    MIL OSI Russia News –

  • MIL-OSI USA: Attorney General Bonta Secures Nine-Year Jail Sentence Against Travel Agent Who Preyed on Immigrants

    Source: US State of California

    Friday, May 9, 2025

    Contact: (916) 210-6000, agpressoffice@doj.ca.gov

    OAKLAND – California Attorney General Rob Bonta announced securing a nine-year jail sentence against serial immigrant victimizer Iqbal Randhawa for defrauding more than a dozen members of the South Asian community in Northern California. Between 2017 and 2020, each victim hired Randhawa, a travel agent, to purchase airline tickets, paying him between $1,100 and $12,000. Instead of buying the tickets, Randhawa provided fraudulent itineraries and stole the funds.
     
    “My office is dedicated to seeing those who defraud vulnerable Californians pay for their crimes,” said Attorney General Bonta. “I am thankful for the tireless work of my team in this case. Today’s announcement should serve as a reminder: If you break the law and engage in fraud and theft, my office will hold you accountable.”

    In addition to this scheme, Randhawa committed over $89,000 in credit card fraud, using stolen credit information to purchase legitimate airline tickets. He then sold these tickets to paying customers to keep his travel agency afloat. After two trials, he was found guilty of 11 felony counts of grand theft by embezzlement and two felony counts of violating the Seller of Travel laws. The court also found several aggravating factors, including the vulnerability of the victims, the significant financial losses involved, and the callous nature of Randhawa’s conduct.

    This case was prosecuted by the California Department (DOJ) of Justice’s Cybercrime Section which is a team of professional prosecutors, investigators, auditors, analysts, and paralegals. The unit investigates, and prosecutes technology-related crimes in California, including unauthorized intrusions, internet fraud, scams or confidence schemes committed by means of electronic media, money laundering via cryptocurrency or electronic transfer, organized retail crimes involving significant digital evidence, cyberstalking, and cyber-extortion or cyber-exploitation. This case was also investigated by Northern CA Computer Crimes Task Force and DOJ’s Seller of Travel Program section. 

    A copy of the complaint can be found here.

    # # #

    MIL OSI USA News –

  • MIL-OSI Russia: Mauritania: IMF Reaches Staff-Level Agreement on Fourth Review of Extended Fund and Extended Credit Facilities and the Third Review of Resilience and Sustainability Facility

    Source: IMF – News in Russian

    May 9, 2025

    End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.

    • The Mauritanian authorities and IMF staff have reached staff-level agreement on the Fourth Review of Mauritania’s economic program under the Extended Fund Facility (EFF) and Extended Credit Facility (ECF), and the Third Review of the Resilience and Sustainability Facility (RSF).
    • Economic activity was stronger than expected in 2024, and is projected to decelerate slightly in 2025, reflecting a contraction in the extractive sector.
    • Pursuing the authorities’ rule-based fiscal policy and exchange rate flexibility will help support the economy’s resilience amid heightened global uncertainty; and executing the national governance action plan, in line with best practices, will foster the role of the private sector in the economy.

    Washington, DC: An International Monetary Fund (IMF) team, led by Felix Fischer, visited Nouakchott and Nouadhibou during April 28– May 9, 2025 to hold discussions on the Fourth Review of Mauritania’s economic program under the Extended Fund Facility (EFF) and the Extended Credit Facility (ECF), and the Third Review of the RSF arrangement. At the end of the mission, Mr. Fischer issued the following statement:

    “The Mauritanian authorities and IMF staff have reached a staff level agreement on policies to complete the Fourth Review of Mauritania’s 42-month blended EFF/ECF-supported program and the Third review of the RSF. Subject to approval by the IMF Executive Board, Mauritania will receive a disbursement of SDR 6.4 million (about $ 8.6 million) under the ECF and EFF arrangements and SDR 14.86 million (about $ 20.1 million) under the RSF arrangement, bringing the total disbursement under the EFF/ECF and the RST to SDR 111 million (about $ 148.4 million).

    “Economic activity was stronger than expected, with a growth rate of 5.2 percent in 2024, higher than the initial projection of 4.6 percent. Economic growth rate in 2025 is projected to decelerate to 4.0 percent, due to a contraction in the extractive sector. The medium-term outlook remains broadly positive assuming further reforms will be implemented to diversify the economy and lift non-extractive economic growth.

    “Performance under the program is broadly on track— all quantitative targets for end-December 2024 have been met. The fiscal adjustment was in line with the program targets due to higher tax revenue and spending restraint. The authorities’ commitment to a rule-based fiscal policy and exchange rate flexibility serves the country well in the context of heightened global uncertainty, and will help preserve macroeconomic stability and enhance resilience to shocks.

    “The authorities committed to maintain the non-extractive primary deficit at MRU 15.4 billion (3.4 percent of GDP) in 2025. Improved domestic revenue mobilization and better spending efficiency will help create fiscal space to meet Mauritania’s significant development needs while preserving the medium-term budget credibility.

    “The IMF team welcomed the recent progress in structural reforms, including enacting the central bank and banking laws and the new investment code. They encouraged authorities to move swiftly to finalize the implementing decrees of the laws on SOEs, the investment code, and the free zone of Nouadhibou. Steadfast execution of the homegrown Governance Action Plan, including the laws on the declaration of assets and interests and the anti-corruption authority, in line with the best practices, will foster transparency and accountability and enhance the business climate.

    “The authorities continue to advance their climate agenda to strengthen Mauritania’s resilience to climate change. The parliament introduced the climate contribution and adopted regulations allowing access of private energy producers to power transmission infrastructure. The mission discussed next steps towards introducing the automatic fuel price mechanism and stressed the importance of scaling up well-targeted compensatory measures to mitigate the effects on the vulnerable households.

    “The team met with His Excellency President Mohamed Ould Ghazouani, President of the National Assembly Mohamed Ould Megett, Prime Minister Mokhtar Ould Diay, Governor of the Central Bank Mohamed Lamine Ould Dhehby, Minister of Economy and Finance Sid’Ahmed Bouh, Minister of Justice Mohamed Boya, Minister of Energy and Oil Mohamed Ould Khaled, Minister of Mining and Industry Thiam Tidjani, Minister of Hydraulics and Sanitation Amal Mint Mouloud, Minister Delegate in charge of the Budget Codioro Moussa N’guénore, other senior government officials, the civil society, the banking association and other representatives of the private sector, and the donor community.

    “The IMF team would like to thank the Mauritanian authorities and various stakeholders for the excellent hospitality and cooperation and candid discussions during the mission.”

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Mayada Ghazala

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/05/09/pr-25138-mauritania-imf-reaches-agreement-4th-rev-of-ef-and-ecf-and-3rd-rev-of-rsf

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI: The Herzfeld Caribbean Basin Fund, Inc. Announces Distribution in Stock and Cash

    Source: GlobeNewswire (MIL-OSI)

    MIAMI BEACH, Fla., May 09, 2025 (GLOBE NEWSWIRE) — The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) (the “Fund”) today announced that the Fund will pay a distribution pursuant to the Fund’s managed distribution policy (the “Policy”) using a combination of shares of common stock and cash.

    Distribution in Stock and Cash:

    The Fund has announced a distribution to be paid as follows:

    Declaration Date Ex-Date Record Date Payment Date Per Share
    05/09/2025 05/23/2025 05/23/2025 06/30/2025 $0.2325
             

    The distribution for stockholders will be paid in cash or shares of our common stock at the election of stockholders. The total amount of cash distributed to all stockholders will be limited to 20% of the total distribution to be paid, excluding any cash paid for fractional shares. The remainder of the distribution (approximately 80%) will be paid in the form of shares of our common stock. The exact distribution of cash and stock to any given stockholder will be dependent upon his/her election as well as elections of other stockholders, subject to the pro-rata limitation.

    The number of shares of common stock to be issued to stockholders receiving all or a portion of the dividend in shares of common stock will be based on the volume weighted average price per share of common stock on the Nasdaq Capital Market on June 12, 13, and June 16, 2025.

    Management believes that the cash and stock distribution will allow the Fund to strengthen its balance sheet and to be in a position to capitalize on potential future investment opportunities.

    The schedule above applies to the distribution for stockholders of record on the close of business on the record date.

    The details of the distribution will be described in the election form and accompanying materials that will be mailed to stockholders in connection with the distribution not later than promptly following the record date. Election forms must be returned on or before 5:00 p.m. Eastern Time on June 16, 2025 to be effective.

    Stockholders who do not return a timely and properly completed election form before the election deadline will be deemed to have made an election to receive 100% of their distribution in stock.

    Participants in the Fund’s dividend reinvestment plan will also receive an election form. The investment feature of the dividend reinvestment plan will be suspended for the distribution and will be reinstated after the distribution has been completed.

    Stockholders who hold their shares through a bank, broker or nominee, or in “street name” will not receive an election form directly from the Company and should receive information regarding the election process from their bank, broker or nominee. Street name holders should contact their bank, broker or nominee for additional information.

    In determining whether to elect to receive distributions in the form of stock or cash, stockholders are reminded that the Fund has filed preliminary proxy materials (“Proxy Materials”) with the U.S. Securities and Exchange Commission in connection with a special meeting of stockholders to be held on June 17, 2025, for its stockholders to consider and vote on proposals necessary to approve the Fund’s conversion from its current investment strategy and redirect the Fund to focus on a “CLO Equity Strategy”. With this change, the Fund’s primary investment objective will change to a total return strategy with a secondary objective of generating high current income for stockholders. In accordance with the change in investment objective, the Fund will focus on investing in equity and junior debt tranches of collateralized loan obligations, or “CLOs”. CLOs are portfolios of collateralized loans consisting primarily of below investment grade U.S. senior secured loans with a large number of distinct underlying borrowers across various industry sectors. In addition, the Proxy Materials describe other changes to be implemented by the Fund, including a) revisions to the terms of the investment management agreement between the Fund and is investment adviser, Thomas J. Herzfeld Advisors, Inc., and b) changes to the fundamental policies applicable to the Fund. Stockholders can obtain the Proxy Materials (when available) free of charge from the SEC’s website at www.sec.gov. The definitive Proxy Statement for the Fund also will be posted (when available) on the Fund’s website at www.herzfeld.com/cuba. In addition, free copies (when it becomes available) of the definitive Proxy Statement and other documents filed with the SEC may also be obtained by directing a request to the Fund at (800) 854-3863.

    Stockholders should consider the matters discussed in the Proxy Materials when determining whether to make the election to receive stock or cash with respect to the distribution.

    The Fund expects that distributions under the Policy will exceed investment income and available capital gains and thus expects that distributions under the Policy will likely include returns of capital for the foreseeable future. A return of capital may occur, for example, when some or all of a stockholder’s investment is paid back to the stockholder. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income.’ Furthermore, a return of capital distribution is not a guarantee of future distributions or yield. Any such returns of capital will decrease the Fund’s total assets and, therefore, could have the effect of increasing the Fund’s expense ratio. In addition, in order to maintain the level of distributions called for under its Policy, the Fund may have to sell portfolio securities at a less than opportune time.

    The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid this fiscal year to date from the following sources: net investment income, net realized capital gains and return of capital. All amounts are expressed per common share.

      Current Distribution % Breakdown of the Current Distribution Total Cumulative Distributions for the Fiscal Year to Date % Breakdown of the Total Cumulative Distributions for the Fiscal Year to Date
    Net Investment Income $0.00 0% $0.00 0%
    Net Realized Short- Term Capital Gains $0.00 0% $0.00 0%
    Net Realized Long- Term Capital Gains $0.2122 91.25% $0.2122 45.6%
    Return of Capital $0.0203 8.75% $0.2528 54.4%
    Total (per common share) $0.2325 100% $0.4650 100%
             

    The primary purpose of the Policy is to provide stockholders with a constant, but not guaranteed, fixed minimum rate of distribution (currently set at the annual rate of 15% of the Fund’s net asset value as determined on June 30, 2024). The Board recently amended the Policy to maintain the 15% annual rate of distribution, but at quarterly, semi-annual or annual periods of distribution to be reviewed by the Board each quarter. The purpose of the modification is to allow the Fund to maintain its 15% annual distribution of NAV, but provide flexibility in determining the timing of those distributions in order to account for required year-end regulatory distributions of capital gains necessary to maintain the Fund’s tax-free status. The Fund cannot predict what effect, if any, the Policy will have on the market price of its shares or whether such market price will reflect a greater or lesser discount to net asset value as compared to prior to the adoption of the Policy.

    The amount distributed per share is subject to change at the discretion of the Board. The Policy is subject to ongoing review by the Board to determine whether it should be continued, modified or terminated. The Board may amend the terms of the Policy, suspend the Policy, or terminate the Policy at any time without prior notice to the Fund’s stockholders if it deems such actions to be in the best interest of the Fund or its stockholders. The amendment or termination of the Policy could have an adverse effect on the market price of the Fund’s shares. On May 9, 2024, the Board approved certain modifications to the Policy and extended the Policy through June 30, 2025.

    With each distribution that does not consist solely of net investment income, the Fund will issue a notice to stockholders and an accompanying press release that will provide detailed information regarding the amount and composition of the distribution and other related information. The amounts and sources of distributions reported in the notice to stockholders are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during its full fiscal year and may be subject to changes based on tax regulations. The Fund will send stockholders a Form 1099-DIV for the respective calendar year that will tell them how to report these distributions for federal income tax purposes. Stockholders should consult their tax advisor for proper tax treatment of the Fund’s distributions.

    Under the Policy, the Fund will distribute all available investment income to its stockholders, consistent with its investment objective and as required by the Internal Revenue Code of 1986, as amended (the “Code”). The amount distributed per share is subject to change at the discretion of the Fund’s Board of Directors (“Board”). If sufficient investment income is not available, the Fund will distribute long-term capital gains and/or return capital to its stockholders in order to maintain its managed distribution level. The Fund is currently not relying on any exemptive relief from Section 19(b) of the Investment Company Act of 1940, as amended (the “1940 Act”). The Fund may make additional distributions from time to time, including additional capital gain distributions at the end of the taxable year, if required to meet requirements imposed by the Code and/or the 1940 Act.

    Future distributions by the Fund may be made in cash or using a combination of shares of common stock and cash, as shall be determined from time to time by the Board.

    About Thomas J. Herzfeld Advisors, Inc.

    Thomas J. Herzfeld Advisors, Inc., founded in 1984, is an SEC registered investment advisor, specializing in investment analysis and account management in closed-end funds. The Firm also specializes in investment in the Caribbean Basin. The HERZFELD/CUBA division of Thomas J. Herzfeld Advisors, Inc. serves as the investment advisor to The Herzfeld Caribbean Basin Fund, Inc. a publicly traded closed-end fund (NASDAQ: CUBA).

    More information about the advisor can be found at www.herzfeld.com.

    Past performance is no guarantee of future performance. An investment in the Fund is subject to certain risks, including market risk. In general, shares of closed-end funds often trade at a discount from their net asset value and at the time of sale may be trading on the exchange at a price which is more or less than the original purchase price or the net asset value. An investor should carefully consider the Fund’s investment objective, risks, charges and expenses. Please read the Fund’s disclosure documents before investing.

    Forward-Looking Statements

    This press release, and other statements that TJHA or the Fund may make regarding management’s future expectations, beliefs, intentions, goals, strategies, plans or prospects, including statements relating to: management’s beliefs that the cash and stock distribution will allow the Fund to strengthen its balance sheet and to be in a position to capitalize on potential future investment opportunities, when there can be no assurance either will occur; the tax consequences of the distributions to stockholders; and other factors may contain forward looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Fund’s or TJHA’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions. TJHA and the Fund caution that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and TJHA and the Fund assume no duty to and do not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. With respect to the Fund, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, particularly with respect to Cuba and other Caribbean Basin countries, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Fund or in the Fund’s net asset value; (2) the relative and absolute investment performance of the Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to the Fund or TJHA, as applicable; (8) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or TJHA or the Fund; (9) TJHA’s and the Fund’s ability to attract and retain highly talented professionals; (10) the impact of TJHA electing to provide support to its products from time to time; (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions; and (12) the effects of an epidemic, pandemic or public health emergency, including without limitation, COVID-19. Annual and Semi-Annual Reports and other regulatory filings of the Fund with the SEC are accessible on the SEC’s website at www.sec.gov and on TJHA’s website at www.herzfeld.com/cuba, and may discuss these or other factors that affect the Fund. The information contained on TJHA’s website is not a part of this press release.

    Contact:
    Tom Morgan
    Chief Compliance Officer
    Thomas J. Herzfeld Advisors, Inc.
    1-305-777-1660

    The MIL Network –

  • MIL-OSI: Preferred Bank Announces New Chief Risk Officer

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, May 09, 2025 (GLOBE NEWSWIRE) — Preferred Bank (NASDAQ: PFBC), one of the largest independent commercial banks in California, today reported that the Board of Directors has named Nick Pi to the position of Executive Vice President and Chief Risk Officer. Mr. Pi has served as the Bank’s Chief Credit Officer since 2015 and will continue to oversee the credit function. Mr. Pi will now also oversee the BSA and Compliance Departments as well.

    Li Yu, Chairman and CEO of the Bank said “Nick has been a very strong leader in Credit Administration and we’re excited to have someone with his experience and knowledge taking over the role of Chief Risk Officer. We feel this is an important step in developing our enterprise risk oversight. Please join me in congratulating Nick”.

    About Preferred Bank

    Preferred Bank is one of the larger independent commercial banks headquartered in California. The Bank is chartered by the State of California, and its deposits are insured by the Federal Deposit Insurance Corporation, or FDIC, to the maximum extent permitted by law. The Bank conducts its banking business from its main office in Los Angeles, California, and through twelve full-service branch banking offices in the California cities of Alhambra, Century City, City of Industry, Torrance, Arcadia, Irvine (2 branches), Diamond Bar, Pico Rivera, Tarzana and San Francisco (2 branches) and two branches in New York (Flushing and Manhattan) and one branch in the Houston suburb of Sugar Land, Texas. Additionally, the Bank operates a Loan Production Office in Sunnyvale, California. Preferred Bank offers a broad range of deposit and loan products and services to both commercial and consumer customers. The Bank provides personalized deposit services as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses, entrepreneurs, real estate developers, professionals and high net worth individuals. Although originally founded as a Chinese-American Bank, Preferred Bank now derives most of its customers from the diversified mainstream market but does continue to benefit from the significant migration to California of ethnic Chinese from China and other areas of East Asia.

    AT THE COMPANY: AT FINANCIAL PROFILES:
    Edward J. Czajka Jeffrey Haas
    Executive Vice President General Information
    Chief Financial Officer (310) 622-8240
    (213) 891-1188 PFBC@finprofiles.com

    The MIL Network –

  • MIL-OSI USA: Ahead of Mother’s Day, Senator Murray, King County Executive Braddock, Moms and Local Parents Slam Trump’s “Baby” Tax, Painful Unnecessary Price Hikes for Families

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    Washington Post: Trump’s tariffs hit baby industry hard, threatening parents with price hikes, shortages

    Axios: “Baby tax”: Trump tariffs send baby gear prices soaring

    *** B-ROLL AND PHOTOS HERE***

    Seattle, WA — Today, ahead of Mother’s Day, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, held a press conference at WestSide Baby in Seattle to highlight how President Trump’s chaotic trade war is raising costs on moms and families across the board. Trump’s sweeping tariffs are the highest in decades, and are estimated to cost American families more than $4,000 per year—the largest tax increase since 1968.

    Senator Murray was joined by King County Executive Shannon Braddock, Executive Director of WestSideBaby Allie Lindsay Johnson, Brittney Geleynse owner of Clover Toys, and local moms and parents who all outlined how Trump’s tariffs are already raising the cost of items moms need for their families, purchases that can’t be pushed off—from car seats and strollers, to high chairs, kids clothes, and cribs.

    The press conference comes as new reporting lays out how Trump’s tariffs are making it more expensive to raise kids, driving up prices on children’s products and threatening shortages of critical baby gear at a time when household budgets are already under strain.

    “The last thing any mom wants right now is higher costs for things like diapers, high chairs, and car seats—but that is exactly what Donald Trump is delivering with his nonsense trade war,” said Senator Murray. “His across-the-board tariffs are already raising prices for new moms and families. With all the costs new parents are going to have to pay for these goods, Trump has essentially announced a new ‘baby’ tax. If you are a billionaire, Republicans are getting ready to give you a massive tax break. But babies? Moms? Dads? Trump says you are out of luck. Yes, Trump’s ‘baby’ tax is going to mean fewer toys, smaller birthdays—but it is also going to mean parents struggling to buy high chairs or specialty formula, struggling to buy a safe bassinet, or a stroller, or a car seat.”

    “Well, my message to moms is: I got into politics to fight for moms like me—and I am never going to stop,” continued Senator Murray. “I know what you are going through, all the things you already have to worry about. You should not have to worry about Trump’s new baby tax driving up costs as well. Congress CAN reverse these tariffs—we could do it next week if Republicans chose to. So, I am going to be lifting up your voices, and using mine—to push for Congress to act and demand this administration reverse their incredibly damaging price hikes on families.”

    “Tariffs that drive up the cost of baby essentials like car seats, strollers and diapers aren’t just bad economics—they’re bad values,” said King County Executive Shannon Braddock. “Working families are the ones who pay the price. We need real leadership in Washington, D.C., and I’m grateful Senator Murray is standing with us in this fight.” 

    “Children should not be the casualties of a trade war. Items like car seats, strollers, and cribs aren’t luxuries—they’re critical for a child’s safety and development. At WestSide Baby, we regularly see parents forced to choose between paying rent or buying a car seat. For families facing poverty or sudden financial strain, even small price increases can mean going without or making unsafe compromises,” said Allie Lindsay Johnson, Executive Director of WestSide Baby.

    “As a parent, I want the best possible future for my children. I want to give them the tools and opportunities to get ahead in life, not put limits on what they can do. But Trump’s unnecessary tariffs are increasing prices on my baby’s basic needs like his formula, stroller, and car seat,” said Salia Gartrell, a public school teacher and mother of four from Kent, WA. “My family isn’t the only one feeling the financial squeeze from these bad tariffs. Even though my boys are active in their community, and my husband and I work hard to give them every opportunity, the rising costs of living that are due to bad policies like Trump’s Baby Tax leave me and my husband no other choice but to cut back on what our kids can do.”

    “Tariffs on imported toys present a significant operational challenge for Clover Toys, directly impacting our costs and forcing us to navigate complex pricing and inventory decisions,” said Brittney Geleynse owner of Clover Toys. “We are committed to our customers and the Seattle community, and we’re working hard to manage these pressures while continuing to offer the curated selection they expect from their local toy store.”

    Senator Murray has been a vocal opponent of Trump’s chaotic trade war from the very start and has been lifting up the voices of people in Washington state harmed by this administration’s approach to trade and calling on Republicans to end Trump’s trade war—which Congress has the power to do—and take back Congress’ Constitutionally-granted power to impose tariffs. Earlier last month, Senator Murray brought together leaders across Washington state who highlighted how Trump’s ongoing trade war is already a devastating hit to Washington state’s economy, businesses, and our agriculture sector. Senator Murray also took to the Senate floor to lay out how Trump’s chaotic trade war is seriously threatening our economy, American businesses, families’ retirement savings, and so much else.

    Murray has also been sounding the alarm on Trump’s tariffs across Washington state. Recently, Senator Murray held a roundtable discussion in Tacoma with local businesses and ports, met with farmers in Yakima to discuss the consequences of Trump’s tariffs, and held a roundtable discussion in Vancouver at a local metal fabrication company to highlight how Trump’s trade war is hurting businesses and our economy Washington state. Last month, Senator Murray met with small business owners in Seattle’s University District to hear how Trump’s tariffs and the broader economic uncertainty are affecting them, and later she met with farmers in Skagit County to discuss tariffs, and visited Blaine near the Canadian border to highlight the impacts of Trump’s trade war. Just last week, Senator Murray rallied her West Coast colleagues and ports from Washington state and California to sound the alarm on how Trump’s tariffs will mean bare shelves, higher prices, and painful layoffs.

    From Groundwork Collaborative – Trump’s Tariffs are increasing prices on everything:

    Car seats: UPPAbaby, a major manufacturer of car seats and strollers, announced increased prices across most of its products beginning May 5. Nuna has increased prices by $50, and Evenflo has increased prices by 10-40%.

    • This represents a major challenge for parents, as car seats – which can run over $400 – are required by law in all 50 states and should be bought new due to safety concerns.
    • New parents spend, on average, $1,000 on baby safety gear.

    Strollers: To put it in Trump’s words, prices are rising for “the thing that you carry the babies around in.” UPPAbaby’s popular Vista stroller just increased from $900 to $1,200. Or, for a cheaper option, Bombi’s flagship stroller now costs $225 instead of $199.

    • Few strollers are made in the U.S. Most are made in China, while others come from Italy, Taiwan, Hungary, and the Netherlands.

    Cribs: Since the average parent spends approximately $2,000 on a new nursery, it is terrible news that three-quarters of all baby furniture is made in China. The Consumer Product Safety Commission does not recommend buying used cribs, as unsafe sleep environments are the main cause of injuries and deaths with nursery products.

    • The popular smart bassinet SNOO is manufactured in China and might soon cost more than its current $1,695 price tag.

    High Chairs & Sippy Cups: The CEO of popular baby accessory brand Munchkin, Steve Dunn, said the company will increase prices on about 90% of products, likely by at least 20%. Their cheapest high chair is currently $170.

    Clothes: Carter’s has already raised prices on many items. Approximately 74% of its products are sourced from Cambodia, Vietnam, Bangladesh, and India, which now face the 10% universal tariff rate.

    Toys: About 80% of all toys imported to the U.S. come from China, according to the Toy Association. Mattel CFO Anthony DiSilvestro has warned of possible price hikes as 40% of Mattel toys come from China.

    Senator Murray’s remarks, as delivered, are below:

    “As families across the country get ready to celebrate Mother’s Day, the last thing any mom wants right now is higher costs for things like diapers, high chairs, and car seats—but that is exactly what Donald Trump is delivering with his all-out trade war. His across-the-board tariffs are ALREADY raising prices for new moms and families.

    “Because just about every single car seat sold in this country, just about every single stroller, just about every bassinet and changing table—is made somewhere else. And the vast majority of them are made in China—meaning Trump’s tariffs will jack up the cost by 145%. To say nothing of baby clothes made in other countries in the Pacific, or specialty baby formulas imported from Europe, or the materials and machinery we import—even for products made in America—like bamboo fibers in some diapers.

    “With all the costs new parents are going to have to pay for these goods, Trump has essentially announced a new “baby” tax. If you are a billionaire,  Republicans are getting ready to give you a massive tax break. But babies? Moms? Dads? Trump says you are out of luck.

    “Maybe this is hard for a billionaire who calls strollers “the thing that you carry babies around in” to understand—but most babies in America aren’t born with a golden spoon in their mouth. Parents are already struggling, the concern I hear from new parents almost more than anything else—is simply “how do we afford this?” After all, child care can cost more than college tuition and Trump’s trade war is just going to make that—and everything else—worse.

    “This isn’t about having to skimp on Christmas—though Trump has made it all too clear he’s eager to play Grinch, and toys are definitely going to get more expensive. Trump’s new taxes are making sure of that.


    “But every parent understands there is yet a bigger problem here. There are a lot of costs that are not really optional! You can’t just not buy diapers. You can’t just go without high chairs or sippy cups—even though manufactures are already warning about 20 percent price increases.

    “And—as much as they like to wriggle out of them—you can’t just go without baby clothes—even though three-quarters of them are made abroad and are about to get taxed out the wazoo. And those are just everyday necessities—don’t forget the big ticket items. No family should have to choose between cost and safety as they’re making decisions for their children.

    “Some companies have already raised stroller prices by hundreds of dollars. And then there’s cribs. The average parent already spends two thousand dollars on a crib—this is a critical item. And three-quarters of all baby furniture is made in China—meaning Trump wants to slap a 145% tax on it.

    “The same goes for car seats which are virtually all made in China. You absolutely cannot just go without a car seat, and safety experts emphasize you should not buy them used. But with Trump’s 145% tax—parents are wondering how they can even afford them at all. That’s what Trump’s trade war is doing to families! Trump’s baby tax is not just expensive for families and it is not just one more callous and careless policy from a billionaire without a clue—it is also dangerous.

    “Yes, it is going to mean fewer toys, smaller birthdays—but it is also going to mean parents struggling to buy high chairs or specialty formula, struggling to buy a safe bassinet, or a stroller, or a car seat.

    “Well my message to moms: I got into politics to fight for moms like me—and I am never going to stop. I know what you are going through, all the things you already have to worry about. You should not have to worry about Trump’s new baby tax driving up costs as well. Congress CAN reverse these tariffs—we could do it next week if Republicans chose to. So, I am going to be lifting up your voices, and using mine—to push for Congress to act and demand this administration reverse their incredibly damaging price hikes on families.”

    MIL OSI USA News –

  • MIL-OSI Africa: Nigeria Unlocks Intra-African Trade with New Pan-African Payment & Settlement System (PAPSS) Policy Boost

    Source: Africa Press Organisation – English (2) – Report:

    CAIRO, Egypt, May 9, 2025/APO Group/ —

    The Pan-African Payment & Settlement System (PAPSS) warmly welcomes the new circular from the Central Bank of Nigeria (CBN), announcing a significant streamlining of documentation requirements for PAPSS transactions in Nigeria.

    This progressive policy, announced on 28 April 2025, sets the stage for faster, more cost-effective, and more inclusive participation by Nigerians and Nigerian businesses, especially Small and Medium Enterprises (SMEs), involved in intra-African commerce under the African Continental Free Trade Area (AfCFTA).

    With the new announcement, individuals and businesses in Nigeria will now be able to make PAPSS transactions efficiently; with less delays occasioned by paperwork. Only basic KYC (Know Your Customer) and AML (Anti-Money Laundering) documents are required for clearance of payments under US$2,000 (for individuals) and US$5,000 (for corporates) per month. This makes it easier for Nigerian SMEs to trade across Africa under the AfCFTA, with fewer heavy documentation barriers than ever before.

    The announcement also empowers commercial banks to source foreign exchange for PAPSS through Nigeria’s Foreign Exchange market.

    As PAPSS continues to expand across Africa — with 16 countries, 14 payment switches, and more than 150 commercial banks now connected, including 22 banks in Nigeria — the streamlined requirements will eliminate barriers and encourage broader use of our secure, instant, local currency-based platform.

    Mike Ogbalu III, CEO of PAPSS, commented: “Today marks a transformational milestone for Nigerian commerce and for the larger vision of African economic integration. We are grateful to the Central Bank of Nigeria for its unwavering support and vision in propelling Nigeria towards seamless intra-African payments under the AfCFTA.

    “This bold policy move by the CBN will empower banks, businesses, and entrepreneurs to connect, trade, and pay more easily than ever before. The directive removes excess paperwork from a large number of transfers, empowering Nigerian businesses to participate more freely in the African Continental Free Trade Area by utilising our secure, local currency-based platform.

    “We also expect Nigerian banks to begin integrating PAPSS into their digital platforms such as mobile apps and online banking in the near future, promoting even wider adoption.

    “PAPSS is at the forefront of the African advancement towards a truly borderless African economy and achieving the ultimate goal of economic self-determination. We encourage all stakeholders across the continent to follow in Nigeria’s footsteps, embrace PAPSS, and become part of the transformation that will define the way Africa does payments and accelerate the realisation of the African Continental Free Trade Area goals.”

    MIL OSI Africa –

  • MIL-OSI USA: New Jersey Woman Sentenced to Prison for Forced Labor and Other Federal Crimes

    Source: US State of California

    A New Jersey woman was sentenced on Wednesday to 45 months in prison for forced labor and other crimes related to her coercive scheme to compel two victims to perform domestic labor and childcare in her home.

    Bolaji Bolarinwa, 51, of Moorestown, previously was found guilty of two counts of forced labor, one count of alien harboring for financial gain and two counts of document servitude following a two-week trial before U.S. District Judge Karen M. Williams in Camden federal court. Judge Williams imposed the sentence today in Camden federal court.

    According to documents filed in this case and the evidence at trial, from December 2015 to October 2016, Bolarinwa — originally from Nigeria, but living in New Jersey as a U.S. citizen — recruited two victims to come to the United States and then coerced them to perform domestic labor and childcare services for her children through physical harm, threats of physical harm, isolation, constant surveillance and psychological abuse. The defendant engaged in this conduct knowing that one of the victims was out of lawful immigration status while working in her home.

    Once the first victim arrived in the United States in December 2015, Bolarinwa confiscated her passport and coerced her through threats of physical harm to her and her daughter, verbal abuse, isolation and constant surveillance to compel her to work every day, around-the-clock for nearly a year. Bolarinwa then recruited a second victim to come to the United States on a student visa. When the second victim arrived in the United States in April 2016, Bolarinwa similarly confiscated her passport and coerced her to perform household work and childcare but relied more heavily on physical abuse. The two victims lived and worked in Bolarinwa’s home until October 2016, when the second victim notified a professor at her college, who reported the information to the FBI.

    In addition to the prison term, Judge Williams sentenced Bolarinwa to three years of supervised release, imposed a $35,000 fine, and ordered Bolarinwa to pay $87,518.72 in restitution to the victims of her offenses.

    “The defendant exploited her relationship with the victims to lure them to the United States with false promises,” said Assistant Attorney General Harmeet K. Dhillon of the Justice Department’s Civil Rights Division. “The defendant confiscated the victims’ immigration documents and subjected them to threats, physical force, and mental abuse to coerce them to work long hours for minimal pay. This prosecution should send a strong message that such forced labor will not be tolerated in our communities. The Justice Department is committed to fully enforcing our federal human trafficking statutes to vindicate the rights of survivors and hold human traffickers accountable for such shameful exploitation of vulnerable victims.”

    “Today’s sentence vindicates the rights of two vulnerable women who the defendant subjected to grueling hours and coercive abuse in her home,” said U.S. Attorney Alina Habba for District of New Jersey. “Forced labor and human trafficking are atrocious crimes that have no place in our society. My office and the entire Department of Justice is committed to standing up for vulnerable human trafficking victims and holding their traffickers accountable.”

    “Human nature is generally good. There are situations though that prove some people display more cruel and inhumane behavior,” said Acting Special Agent in Charge Terence G. Reilly of the FBI Newark Field Office. “Bolarinwa lured women with false promises, held them captive, and forced them clean her home and care for her children. Then took it a sickening step further by physically abusing them. Luckily, one of the victims had the courage to tell someone. We ask anyone who notices an odd situation, something that doesn’t look or feel right, to please call us so we can help victims that may be hiding in plain sight.”

    U.S. Attorney Alina Habba for the District of New Jersey credited special agents of the FBI, under the direction of Special Agent in Charge Terence G. Reilly in Newark, with the investigation leading to today’s sentence.

    This case was prosecuted as part of the U.S. Attorney’s Office for the District of New Jersey’s Human Trafficking Task Force, which was formed in 2025. The Task Force brings together federal and state agencies to collaborate and dedicate resources to combat human trafficking and prosecute human trafficking offenders who endanger the safety of the community. The Human Trafficking Task Force is composed of the U.S. Attorney’s Office, the Federal Bureau of Investigation, U.S. Department of Homeland Security, Homeland Security Investigations, U.S. Department of Labor, U.S. Department of Health and Human Services, Office of Inspector General, the Internal Revenue Service, and the New Jersey Office of Attorney General.

    The government is represented by Assistant U.S. Attorney Jeffrey Bender for the District of New Jersey and Trial Attorney Elizabeth Hutson of the Civil Rights Division’s Human Trafficking Prosecution Unit.

    MIL OSI USA News –

  • MIL-OSI: Nasdaq Announces End-of-Month Open Short Interest Positions in Nasdaq Stocks as of Settlement Date April 30, 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, May 09, 2025 (GLOBE NEWSWIRE) — At the end of the settlement date of April 30, 2025, short interest in 3,156 Nasdaq Global MarketSM securities totaled 13,300,707,903 shares compared with 13,211,633,004 shares in 3,143 Global Market issues reported for the prior settlement date of April 15, 2025. The mid-April short interest represents 2.40 days compared with 1.76 days for the prior reporting period.

    Short interest in 1,636 securities on The Nasdaq Capital MarketSM totaled 2,645,060,429 shares at the end of the settlement date of April 30, 2025, compared with 2,609,354,721 shares in 1,634 securities for the previous reporting period. This represents a 1.00 day average daily volume; the previous reporting period’s figure was 1.00.

    In summary, short interest in all 4,792 Nasdaq® securities totaled 15,945,768,331 shares at the April 30, 2025 settlement date, compared with 4,777 issues and 15,820,987,725 shares at the end of the previous reporting period. This is 1.92 days average daily volume, compared with an average of 1.52 days for the prior reporting period.

    The open short interest positions reported for each Nasdaq security reflect the total number of shares sold short by all broker/dealers regardless of their exchange affiliations. A short sale is generally understood to mean the sale of a security that the seller does not own or any sale that is consummated by the delivery of a security borrowed by or for the account of the seller.

    For more information on Nasdaq Short interest positions, including publication dates, visit
    http://www.nasdaq.com/quotes/short-interest.aspx
    or http://www.nasdaqtrader.com/asp/short_interest.asp.

    About Nasdaq:
    Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.     

    Media Contact:
    Maximilian Leitenberger
    Maximilian.leitenberger@nasdaq.com

    NDAQO

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a098cc6b-342f-4208-8453-43a9f3f84002

    The MIL Network –

  • MIL-OSI: Matador Technologies Inc. Announces Non-Brokered Private Placement

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 09, 2025 (GLOBE NEWSWIRE) — Matador Technologies Inc. (“Matador” or the “Company”) (TSXV: MATA, OTCQB: MATAF), a Bitcoin-focused technology and investment company, is pleased to announce a non-brokered private placement offering of up to 5,454,546 units (the “Units”) at a price of $0.55 per Unit, for aggregate gross proceeds of up to C$3,000,000 (the “Offering”).

    Each Unit will consist of one common share and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.75 for a period of twelve (12) months from the date of issuance.

    The Warrants will be subject to an acceleration clause: in the event that the closing price of the Company’s common shares on the TSX Venture Exchange (the “TSXV”) is equal to or exceeds $1.05 for five (5) consecutive trading days at any time following the date which is four months and one day after the closing date, the Company may accelerate the expiry date of the Warrants to the date that is thirty (30) days following the dissemination of a press release announcing such acceleration.

    The securities issued in connection with the Offering will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws.

    The Offering is being conducted pursuant to available exemptions from prospectus requirements and will be made to “accredited investors” in all provinces of Canada and in such other jurisdictions as the Company may determine, in accordance with applicable securities laws.

    The net proceeds of the Offering are expected to be allocated approximately one-third to each of the following: (i) the purchase of Bitcoin; (ii) advancing the Company’s gold acquisition and Grammies business initiatives; and (iii) general corporate purposes.

    The Offering is subject to customary closing conditions, including the receipt of all necessary approvals, including that of the TSX Venture Exchange.

    For additional information, please contact:

    Media Contact:
    Sunny Ray
    President
    Email: sunny@matador.network
    Phone: 647-932-2668

    About Matador Technologies Inc.

    Matador Technologies Inc. is a publicly traded Bitcoin ecosystem company that holds Bitcoin as its primary treasury asset and builds products to enhance the Bitcoin network. Through a self-reinforcing model that combines strategic Bitcoin accumulation, Bitcoin-native product development, and participation in digital asset infrastructure, Matador aims to grow long-term shareholder value without dilution.

    The Company’s flagship offering, the Digital Gold Platform, allows users to buy, sell, and trade 1-gram gold units inscribed as Bitcoin Ordinals—bridging traditional value with decentralized technology. With a Bitcoin-first strategy, a debt-free balance sheet, and a clear focus on innovation, Matador is helping shape the future of financial infrastructure on Bitcoin.

    Learn more at www.matador.network.

    Cautionary Statement Regarding Forward-Looking Information

    NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

    This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

    Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including risks associated with the implementation of the Company’s treasury management strategy and the launch of its mobile application as currently proposed or at all. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including with respect to the potential acquisition of Bitcoin and/or US dollars, the pricing of such acquisitions and the timing of future operations. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

    The MIL Network –

  • MIL-OSI: NI Holdings, Inc. Reports Results for First Quarter Ended March 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    FARGO, N.D., May 09, 2025 (GLOBE NEWSWIRE) — NI Holdings, Inc. (NASDAQ: NODK) announced today results for the quarter ended March 31, 2025.

    Summary of First Quarter 2025 Results – Continuing Operations
    (All comparisons vs. continuing operations for the first quarter of 2024, unless noted otherwise)

    • Direct written premiums of $67.7 million compared to $83.0 million. This reduction was driven by Non-Standard Auto (-58.8%) due to strategic decisions to exit Nevada and significantly reduce written premium in the Chicago market to improve profitability, partially offset by Home and Farm (7.1%) driven by higher new business in North Dakota as well as rate and insured value increases.
    • Combined ratio of 94.4% driven by strong performance in Home and Farm and Private Passenger Auto.
    • Net investment income increased 3.0% to $2.8 million, driven by relatively consistent yields on a higher average invested asset base.
    • Basic earnings per share of $0.31 compared to basic earnings per share of $0.33.
      Three Months Ended March 31,
    Dollars in thousands, except per share data
    (unaudited)    		   2025   2024   Change
    Direct written premiums $67,728 $83,041   (18.4%)
    Net earned premiums $67,497 $69,884   (3.4%)
    Loss and LAE ratio   57.1%   57.4%   (0.3 pts)
    Expense ratio   37.3%   36.5%   0.8 pts
    Combined ratio   94.4%   93.9%   0.5 pts
    Net income attributable to NI Holdings $6,460 $6,935   (6.8%)
    Continuing operations $6,460 $6,419   0.6%
    Discontinued operations   –   ($516)   NM
    Return on average equity   10.4%   12.1%   (1.7 pts)
    Basic earnings per share $0.31 $0.31   –
    Continuing operations $0.31 $0.33   (6.1%)
        NM = not meaningful

    Management Commentary

    “We are pleased to start off 2025 with another quarter of underwriting profitability, continuing the positive momentum which began to emerge in the fourth quarter of 2024,” said Seth Daggett, President and Chief Executive Officer. “We achieved solid growth across our core personal line segments, primarily in North Dakota due to increased new business and continued strong retention, while also benefiting from favorable weather conditions and lower large loss frequency in our Home and Farm segment. We implemented numerous expanded underwriting and distribution actions throughout North Dakota and South Dakota, tied directly to our strategy of further targeted organic growth in these markets.  

    While overall top-line direct written premiums decreased year-over-year, the reduction was driven by accelerated execution of aggressive strategic actions focused on returning our Non-Standard Auto segment to profitability. 

    Overall, our results point toward the strength of our underlying core business, including numerous competitive advantages we have in these markets. We’re confident that our renewed focus on this business will support our primary objective of creating lasting value for our shareholders through sustained growth and profitability over time.”

    Securities and Exchange Commission (SEC) Filings
    The Company’s Quarterly Report on Form 10-Q and latest financial supplement can be found on the Company’s website at www.niholdingsinc.com. The Company’s filings with the SEC can also be found at www.sec.gov.

    About the Company
    NI Holdings, Inc. is an insurance holding company. The Company is a North Dakota business corporation that is the stock holding company of Nodak Insurance Company and became such in connection with the conversion of Nodak Mutual Insurance Company from a mutual to stock form of organization and the creation of a mutual holding company. The conversion was consummated on March 13, 2017. Immediately following the conversion, all of the outstanding shares of common stock of Nodak Insurance Company were issued to Nodak Mutual Group, Inc., which then contributed the shares to NI Holdings in exchange for 55% of the outstanding shares of common stock of NI Holdings. Nodak Insurance Company then became a wholly-owned stock subsidiary of NI Holdings. NI Holdings’ financial statements are the consolidated financial results of NI Holdings; Nodak Insurance, including Nodak’s wholly-owned subsidiaries American West Insurance Company, Primero Insurance Company, and Battle Creek Insurance Company; Direct Auto Insurance Company; and Westminster Insurance Company until the date of sale.

    Safe Harbor Statement
    Some of the statements included in this news release, particularly those anticipating future financial performance, including investment performance and yields, business prospects, growth and operating strategies, the impact of underwriting changes and other strategic actions on operating results, our plans to increase investments in people and technology, enhance distribution management efforts, and focus on expense management initiatives, our ability to generate consistent profitable growth and create lasting value for our shareholders, and similar matters, are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Actual results could vary materially. Factors that could cause actual results to vary materially include: our ability to maintain profitable operations, the adequacy of the loss and loss adjustment expense reserves, business and economic conditions, the changes in the international trade policies and the potential impact of such changes, interest rates, competition from various insurance and other financial businesses, terrorism, the availability and cost of reinsurance, adverse and catastrophic weather events, including the impacts of climate change, legal and judicial developments, changes in regulatory requirements, our ability to integrate and manage successfully the insurance companies we may acquire from time to time, the impact of inflation on our operating results, and other risks we describe in the periodic reports we file with the SEC. You should not place undue reliance on any such forward-looking statements. We disclaim any obligation to update such statements or to announce publicly the results of any revisions that we may make to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

    For a detailed discussion of the risk factors that could affect our actual results, please refer to the risk factors identified in our SEC reports, including, but not limited to our Annual Report on Form 10-K, as filed with the SEC.

    Investor Relations Contact:
    Matt Maki
    Executive Vice President, Treasurer and Chief Financial Officer
    701-212-5976
    IR@nodakins.com

    The MIL Network –

  • MIL-OSI USA: SBA Relief Still Available to Vermont Private Nonprofits Affected by June Severe Storms and Flooding

    Source: United States Small Business Administration

    ATLANTA – The U.S. Small Business Administration (SBA) is reminding eligible private nonprofit (PNP) organizations in Vermont of the June 10 deadline to apply for low interest federal disaster loans to offset economic losses caused by severe storms and flooding occurring June 22-24, 2024.

    The disaster declaration covers the county of Lamoille.

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

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

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

    The loan amount can be up to $2 million with interest rates as low as 3.25% and terms up to 30 years. Interest does not accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    To apply online visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    The deadline to return economic injury applications is June 10, 2025.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov. 

    MIL OSI USA News –

  • MIL-OSI USA: SBA Relief Still Available to Pennsylvania Small Businesses and Private Nonprofits Affected by October Drought

    Source: United States Small Business Administration

    ATLANTA – The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP)organizations in Pennsylvania of the June 9 deadline to apply for low interest federal disaster loans to offset economic losses caused by the drought beginning Oct. 1, 2024.

    The disaster declaration covers the counties of Allegheny, Beaver, Fayette, Greene, Washington and Westmoreland in Pennsylvania as well as Brooke, Hancock, Marshall and Ohio in West Virginia.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

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

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

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    To apply online visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    The deadline to return economic injury applications is June 9, 2025.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov. 

    MIL OSI USA News –

  • MIL-OSI USA: SBA Relief Still Available to New York Small Businesses and Private Nonprofits Affected by Severe Storms, Tornadoes and Flooding

    Source: United States Small Business Administration

    ATLANTA – The U.S. Small Business Administration (SBA) is reminding eligible private nonprofit (PNP) organizations in New York of the June 9 deadline to apply for low interest federal disaster loans to offset economic losses caused by the severe storms, tornadoes and flooding occurring July 10, 2024.

    The disaster declaration covers the New York counties of Clinton, Essex, Franklin, Hamilton, Herkimer, Jefferson, Lewis, Onieda, Oswego, St. Lawrence, Warren, and Washington as well as the counties of Addison and Chittenden in Vermont.

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

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

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

    The loan amount can be up to $2 million with interest rates of 4% for small businesses and 3.25% for private nonprofit organizations, and terms up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition. These working capital loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to a disaster.

    To apply online visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    The deadline to return economic injury applications is June 9, 2025.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov. 

    MIL OSI USA News –

  • MIL-OSI USA: Governor Stein Attends Ribbon-Cutting Ceremony for Paddy Mountain Park

    Source: US State of North Carolina

    Headline: Governor Stein Attends Ribbon-Cutting Ceremony for Paddy Mountain Park

    Governor Stein Attends Ribbon-Cutting Ceremony for Paddy Mountain Park
    lsaito

    Raleigh, NC

    Today Governor Josh Stein joined conservation organizations and elected officials to open Paddy Mountain Park in West Jefferson. Governor Stein honored North Carolina’s vibrant natural landscape and thanked the partners involved in the project, including the town of West Jefferson, Ashe County, the North Carolina Department of Natural and Cultural Resources, the state’s Parks and Recreation Trust Fund, and the Blue Ridge Conservatory.

    “North Carolina’s parks are integral to our state’s quality of life and economy,” said Governor Josh Stein. “We are all grateful that so many organizations and agencies came together to open Paddy Mountain Park for future generations of North Carolinians to enjoy.”  

    “The opening of Paddy Mountain Park is a perfect representation of what is possible when people work together to preserve their natural wonders,” said Department of Natural and Cultural Resources Secretary Pamela B. Cashwell. “We all have a role to play in conserving our state and keeping our parks and trails in good order.”

    Paddy Mountain Park was created as a result of organizing by community members to preserve West Jefferson’s natural beauty and tourism industry. North Carolina’s national, state, and local parks support more than 66,000 jobs and have contributed more than $7 billion to the state’s economy. While today’s ribbon-cutting ceremony celebrates a new park opening, Hurricane Helene had a devastating impact on many western North Carolina parks, harming tree growth and inhibiting North Carolina’s critical tourism industry. Seven months later, thanks to tireless efforts by public and private partners, all but two impacted parks have reopened. 

    May 9, 2025

    MIL OSI USA News –