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Category: Economy

  • MIL-OSI New Zealand: Economy – RBNZ research investigates why the ‘natural interest rate’ has fallen in New Zealand over recent decades

    Source: Reserve Bank of New Zealand

    1 May 2025 – The fall in New Zealand’s natural interest rate has been driven mainly by declining labour productivity growth and a lower natural interest rate globally, a Reserve Bank of New Zealand Discussion Paper finds.

    Pushing in the other direction, high population growth and increasing labour force participation among older households have kept the natural interest rate higher than otherwise.

    This ‘natural rate of interest’ is closely related to the ‘neutral rate of interest’ and is an important benchmark for monetary policymakers when considering the level of the Official Cash Rate.

    The decline in the natural interest rate among advanced economies has been widely studied. New research from the RBNZ explores the factors that have contributed to this decline in New Zealand over time.

    To better understand the natural interest rate, the authors build a model capturing how households’ savings decisions change over their lifetimes. The model also accounts for the impact of changes in New Zealand demographics and government debt levels, as well as global trends.

    A key driver of the decline in New Zealand’s natural interest rate is labour productivity growth, which fell in New Zealand after the Global Financial Crisis.

    As captured in the model, people tend to save more as productivity growth falls, because they don’t expect incomes to rise as much in future. In turn, more savings in New Zealand flow through to a lower natural interest rate.

    The natural interest rate across many advanced economies has fallen in recent decades, with the world natural rate falling about 1.5 percentage points in the post-GFC period. With New Zealand integrated into global financial markets, this lower world natural interest rate has flowed through into a lower natural interest rate in New Zealand.

    The impact of these drivers has been partially offset by higher population growth and increasing labour force participation among older households. This is because households who expect to work for longer tend to save less for retirement. Higher population growth means more younger households in the population, who tend to save less than older households. Lower domestic savings means a higher natural rate of interest.

    Understanding the drivers of changes in the natural interest rate is important for central banks and helps inform expectations on where the natural rate will move in future.

    “If the natural and neutral rates of interest remain low, this would suggest an ongoing need for alternative monetary policy tools when encountering the effective lower bound (close to zero interest rates) on central bank policy rates,” the authors say.  

    The model developed in this research has a wide range of potential extensions which future work may explore. These extensions could include modelling different types of households in more detail or introducing a risk premium between the return to safe and risky assets.

    More information

    Read the Discussion Paper: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=03b47f37a3&e=f3c68946f8

    Authors: Robert Kirkby, Trent Lockyer, Andrew Coleman

    Definition of natural rate of interest: The long-run return to capital. The level of the natural rate of interest reflects the underlying balance between the amount of savings (from households or overseas investors) and demand for capital (from businesses and the government).
    Definition of neutral interest rate: The nominal neutral interest rate is the level of the Official Cash Rate consistent with inflation being sustainably at target and the economy running at its potential output. When the OCR is above neutral, monetary policy restrains demand and inflation pressures. Below neutral, it is stimulatory. The level of neutral interest rates shapes expectations of where the OCR is likely to settle in the long run, in the absence of future shocks.
    RBNZ’s Additional Monetary Policy toolkit: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=562a64b2ba&e=f3c68946f8

    MIL OSI New Zealand News –

    May 1, 2025
  • MIL-OSI Submissions: KOF Economic Barometer: Outlook for the Swiss Economy darkens

    Source: KOF Economic Institute

    The KOF Economic Barometer falls strongly in April. After an increase in the previous month, it now drops below its medium-term average for the first time this year. The outlook for the Swiss Economy is considerably subdued.

    In April, the KOF Economic Barometer decreases strongly by 6.1 points to a level of 97.1 (after revised 103.2 in the previous month). The negative developments are reflected in the majority of the indicator bundles included in the Economic Barometer. In particular, the indicator bundle for manufacturing experiences a strong setback. Similarly, the indicator bundles for other services and hospitality are under downward pressure. Solely the level of the indicator bundle for financial and insurance services remains nearly unaltered.

    Within the producing industry (manufacturing and construction), the sub-indicators for different aspects of business activity all show negative developments, except for the sub-indicators for the stock of finished products, which show slight positive developments. Particularly negatively impacted are the sub-indicators for exports, production activity and the competitive situation.

    Within manufacturing, the indicators for vehicle and also machinery and equipment manufacturers, for paper and printing producers as well as for the electrical industry are slowing down most noticeable. The indicators for the metal industry remain nearly unaltered.

    MIL OSI – Submitted News –

    May 1, 2025
  • MIL-OSI Submissions: Energy Sector – Equinor first quarter 2025 results

    Source: Equinor

    30 APRIL 2025 – Equinor delivered adjusted operating income* of USD 8.65 billion and USD 2.25 billion after tax in the first quarter of 2025. Equinor reported net operating income of USD 8.87 billion and net income at USD 2.63 billion. Adjusted net income* was USD 1.79 billion, leading to adjusted earnings per share* of USD 0.66.

    • Strong financial and operational performance
    • Strong financial results and cash flow
    • Solid oil and gas production 
    • Strategic progress 
    • Successful start-up of the Johan Castberg and Halten East fields
    • Final investment decision on Northern Lights phase 2.

    Capital distribution

    First quarter cash dividend of USD 0.37 per share
    Proposed second tranche of share buy-back of up to USD 1.265 billion
    Expected total capital distribution for 2025 of up to USD 9 billion.

    Anders Opedal, President and CEO of Equinor ASA:
    “Equinor delivers strong financial results in the first quarter. I am pleased to see the good operational performance and solid production capturing higher gas prices. With the current market uncertainties, Equinor’s core objective is safe, stable and cost efficient operations and resilience through a strong balance sheet.”

    “We maintain a competitive capital distribution and expect to deliver a total of USD 9 billion in 2025.”

    “The production start-up of the Johan Castberg field strengthens Norway’s role as a reliable energy exporter to Europe. The field opens a new region in the Barents Sea and is expected to contribute to energy supply, value creation and ripple effects for at least 30 years to come.”

    “We have invested in Empire Wind after obtaining all necessary approvals, and the order to halt work now is unprecedented and in our view unlawful. This is a question of the rights and obligations granted under legally issued permits, and security of investments based on valid approvals. We seek to engage directly with the US Administration to clarify the matter and are considering our legal options.”

    Solid production

    Equinor delivered a total equity production of 2,123 mboe per day in the first quarter, down from 2,164 mboe in the same quarter last year.

    The operational performance for most of the fields on Norwegian continental shelf is strong, including the Johan Sverdrup and Troll fields. This almost offsets the negative production impact from the shut-in at Sleipner B after the fire in fourth quarter 2024 and planned and unplanned maintenance at Hammerfest LNG.

    In the US, production increased from the same period last year. This was due to increased production from the fields and transactions increasing Equinor’s ownership interest in onshore gas assets in 2024.

    The production from the international upstream segment, excluding US, is down compared to the same quarter last year, due to exits from Nigeria and Azerbaijan in 2024.

    The total power generation from the renewable portfolio was 0.76 TWh, on par with the same period last year.

    In the quarter, Equinor completed five offshore exploration wells on the NCS with two commercial discoveries.

    Strong financial results

    Equinor delivered adjusted operating income* of USD 8.65 billion. and USD 2.25 billion after tax* in the first quarter of 2025. The results are driven by solid gas production and higher gas prices.

    Equinor realised a European gas price of USD 14.8 per mmbtu and realised liquids prices were USD 70.6 per bbl in the first quarter.

    Adjusted operating and administrative expenses* increased from the same quarter last year driven by overlift, higher maintenance activity and some one-off costs. This was partially offset by active measures to reduce costs for business development and early phase projects in renewables and low carbon solutions.

    A strong operational performance generated a cash flow from operating activities, before taxes paid and working capital items, of USD 10.6 billion for the first quarter. Equinor paid one NCS tax instalment of USD 3.09 billion in the quarter.

    Cash flow from operations after taxes paid* ended at USD 7.39 billion.

    Organic capital expenditure* was USD 3.02 billion for the quarter, and total capital expenditures were USD 4.50 billion.

    Equinor continues to demonstrate capital discipline and strengthen financial robustness with a net debt to capital employed adjusted ratio* of 6.9% at the end of the first quarter, compared to 11.9% at the end of the fourth quarter of 2024.

    Empire Wind 1

    After quarter close, Equinor received a halt work order from the US government on the offshore construction on the outer continental shelf for the Empire Wind project. The lease was obtained in 2017 and the project was fully permitted in 2024. It has a potential for delivering power to half a million New York homes, and is approximately 30% to completion.

    Equinor is complying with the order and is seeking dialogue with the proper authorities and assessing legal options. The Empire Wind project has per
    31 March 2025 a gross book value of around USD 2.5 billion, including South Brooklyn Marine Terminal.

    Strategic progress

    A major milestone was reached when production was started from the Johan Castberg field in the Barents Sea on 31 March. Production also started at the Halten East development in the Norwegian Sea, with estimated recoverable reserves of 100 million boe and one year pay-back time.

    Equinor continues to optimise and strengthen long-term value creation on the NCS, and was awarded 27 new production licenses in the Awards in Predefined Areas round (APA) in January. The ambition is to drill around 250 exploration wells on the NCS by 2035.

    In the quarter, the Bacalhau floating production, storage and offloading vessel (FPSO) arrived at its destination in the Santos Basin in Brazil’s pre-salt region. First oil is expected in 2025.

    Within low carbon solutions, Equinor together with partners Shell and TotalEnergies made a final investment decision to progress phase two of the groundbreaking Northern Lights carbon transport and storage development in Øygarden. The NOK 7.5 billion investment is expected to increase the total injection capacity from 1.5 million tonnes of CO2 per year (Mtpa) to at least 5 Mtpa and further develop the commercial market for transport and storage of CO2.

    The appraisal wells for carbon storage at Smeaheia were completed in the quarter on time and on cost.

    Competitive capital distribution

    The board of directors has decided a cash dividend of USD 0.37 per share for the first quarter 2025, in line with communication at the Capital Markets Update in February.

    Expected total capital distribution for 2025 is USD 9 billion, including a share buy-back programme of up to USD 5 billion. The board has decided to initiate a second tranche of the share buy-back programme of up to USD 1.265 billion. The second tranche is subject to an authorisation from the company’s annual general meeting 14 May 2025 and will commence after this. The tranche will end no later than 21 July 2025.

    The first tranche of the share buy-back programme for 2025 was completed on 24 March 2025 with a total value of USD 1.2 billion.

    All share buy-back amounts include shares to be redeemed by the Norwegian State.

    *For items marked with an asterisk throughout this report, see Use and reconciliation of non-GAAP financial measures in the Supplementary disclosures.

    MIL OSI – Submitted News –

    May 1, 2025
  • MIL-OSI Economics: Ministers Commit to Collective Actions for Ocean Sustainability Busan, Republic of Korea | 01 May 2025 5th APEC Ocean-Related Ministerial Meeting The meeting marks the resumption of high-level ocean dialogue within APEC after a decade-long gap.

    Source: APEC – Asia Pacific Economic Cooperation

    Ministers from APEC economies gathered in Busan, Republic of Korea, today for the 5th APEC Ocean-Related Ministerial Meeting, reaffirming their collective commitment to addressing the critical challenges facing the ocean and marine resources in the Asia-Pacific region. The meeting marks the resumption of high-level ocean dialogue within APEC after a decade-long gap.

    In his opening remarks, Korea’s Minister of Oceans and Fisheries, Kang Do-Hyung, emphasized the importance of the ocean as an essential resource for all APEC economies and its critical role in the economic development of the region.

    “The ocean serves as a foundation of life that embraces us all, and it stands as a key resource for our shared future,” said Minister Kang. “Over the millennia, it has underpinned the delicate balance between economic development and environmental sustainability.”

    However, Minister Kang added that the ocean is currently facing a range of serious challenges.

    “The rising sea temperatures and sea levels, the depletion of fishery resources, and the growing issue of marine debris are threatening not only marine ecosystems but also the sustainability of fisheries, aquaculture, and marine tourism—resulting in significant economic and social costs,” Minister Kang added.

    But Minister Kang also shared encouraging facts that even in the face of these crises, the international community continues to make tireless efforts to protect the ocean and ensure a sustainable future.

    “The recently adopted BBNJ Agreement has become a historic milestone in preserving marine ecosystems in areas outside the jurisdiction of any economy,” Minister Kang stated, referring to the 2023 agreement under the United Nations Convention of the Law of the Sea. “The international community has set a clear goal of securing ratification by at least 60 economies by June this year and is working together toward that target.”

    Minister Kang also highlighted other international efforts, such as the WTO Agreement on Fisheries Subsidies, which is recognized for laying the foundation for a more sustainable fisheries sector by limiting harmful subsidies that contribute to overfishing and IUU fishing.

    “APEC, through the Ocean and Fisheries Working Group, has steadily strengthened regional efforts to address a wide range of ocean issues, including combating IUU fishing and reducing marine debris to promote sustainable development in the ocean and fisheries sectors,” Minister Kang added.

     APEC has developed strategic roadmaps to address critical ocean issues, including marine debris, illegal, unreported, and unregulated (IUU) fishing, as well as small-scale fisheries and aquaculture.

    The APEC Roadmap on Marine Debris, endorsed in 2019, emphasizes voluntary and cooperative actions among member economies to reduce marine debris, particularly plastic litter, through policy development, capacity building and sustainable waste management practices. ​

    Similarly, the APEC Roadmap on Combatting IUU Fishing outlines collaborative strategies to prevent and eliminate IUU fishing activities. This includes the development and implementation of economy-wide plans of actions, capacity building and the adoption of port state measures to strengthen enforcement and compliance across the region. ​

    In 2022, APEC also adopted the Roadmap on Small-Scale Fisheries and Aquaculture, aimed at promoting the sustainable development of small-scale fisheries and aquaculture sectors. This roadmap focuses on enhancing the livelihoods of small-scale fishers and aquaculture producers through improved market access, capacity-building, and the promotion of responsible and sustainable practices.

    These roadmaps serve as frameworks for APEC economies to align their efforts and implement effective measures to protect marine ecosystems and ensure the sustainable use of ocean resources.

     “These multifaceted efforts highlight the complexity and severity of the challenges we face. At the same time, they offer hope that even the most difficult ocean-related issues can be addressed through cooperation and innovation,” he continued.

    “In this moment where crisis and hope coexist, we have gathered here today to respond collectively to the challenges facing our oceans and to chart a course toward a sustainable future. I sincerely hope that today’s discussions will not remain as mere documents or declarations but will be translated into concrete actions and policies by all APEC member economies,” Minister Kang concluded.

    For further details, please contact:
    [email protected]

    MIL OSI Economics –

    May 1, 2025
  • MIL-Evening Report: Savvy athletes and new technology are flipping traditional sports marketing on its head

    Source: The Conversation (Au and NZ) – By John Cairney, Professor and Head of Human Movement and Nutrition Sciences; Director, The Queensland Centre for Olympic and Paralympic Studies, The University of Queensland

    Not so long ago, life was pretty simple for sports leagues and teams when it came to connecting with fans: the contests and athletes were the stars of the show, with the on-field action covered and celebrated by sports media accordingly.

    Things are rapidly changing.

    Sport used to primarily be about performance, competition and entertainment. Now, sport and the athletes who play it are often dynamic media platforms.

    This paradigm shift is being driven by the convergence of artificial intelligence (AI), data mining, immersive technology and the creator economy. Each exposes anomalies in the old model and demands a new framework for how sport is consumed, valued and organised.




    Read more:
    The social media games: why sports teams and leagues aren’t just competing on the field


    A changing landscape

    In today’s modern sporting landscape, many leagues, teams and even mega-events are fully functioning media companies.

    Athletes are both product and producer.

    They not only generate performance-based content (highlights, stats) but also personal narratives, political positions, or cultural influence.

    They are creators and media entities in the full sense — with their own brands, platforms and followers.

    Professional leagues and events must reckon with the power shift these actions imply.

    There is extraordinary opportunity in leveraging athletes’ identities for deeper fan engagement. But there is also caution: narratives may not always align with league and team/owner agendas.

    Consider some recent examples.

    Former No. 1-ranked women’s tennis player Naomi Osaka used her platforms to create a brand that spans fashion, media and activism.

    Her 2021 withdrawal from the French Open, which she announced on her own terms on social media, stemmed from her decision to skip post-match press conferences to protect her mental health.

    Osaka’s move highlighted both the opportunity created by authentic, athlete-driven engagement and the challenge it posed to traditional tournament control.

    In 2024, Shohei Ohtani, the Japanese baseball phenomenon, offered a different but related case.

    A dominant pitcher and elite hitter, Ohtani signed a record-breaking US$700 million (A$1.1 billion) contract with the Los Angeles Dodgers, the most lucrative deal in baseball history.

    Since joining the Dodgers, he has tightly curated his public image, favouring controlled, self-managed media content over traditional press access.

    His control over access and messaging means the Dodgers and Major League Baseball can’t fully shape his story.

    Ash Barty’s post-retirement career offers a compelling Australian parallel.

    Since stepping away from tennis in 2022 while ranked No. 1, Barty has carefully balanced commercial endorsements, a memoir and media appearances.

    Like Osaka and Ohtani, Barty’s example speaks to a new form of athlete agency: one where narrative control, emotional transparency and strategic silence all play a role in reshaping sport’s public conversation.

    All these cases illustrate a shifting paradigm — where athletes are no longer just performers but powerful media outlets, often with more influence than the familiar institutions they represent.

    The influence of AI

    This opens important questions around ownership, intellectual property, image rights and the ethical stewardship of public platforms.

    It also means if athletes, players and leagues are media companies, monetisation is a function — but not the sole purpose. Successful media ecosystems don’t just sell content, they also build belonging.

    This means investing in and influencing community, culture and shared values — not just launching branded apps, paid streaming services, or spin-off content that extend the brand.

    AI, in this context, becomes a community-builder, not just a recommendation engine. Its ability to support personalised experiences and micro-segmented fan journeys allows for mass intimacy: experiences that feel deeply individual yet can be scaled broadly.

    With the help of data and machine learning, leagues and teams can now deliver mass customisation not just of products but of experiences and narratives — tailoring highlight reels, merchandise, content and even storylines for each fan. This shift enables a deeper, more emotional form of engagement.

    The National Basketball Association (NBA)’s upgraded app and NBA ID platform bring this to life, using Microsoft Azure AI to serve fans personalised highlight reels, real-time stat overlays and exclusive content based on their favourite teams and players.

    These “fan journeys of one” show how leagues can turn data into connection — building not just audiences but communities, powered by AI.

    As to what the future may hold, some key questions in this space are:

    • How does AI reshape the power dynamics between leagues, athletes and fans?
    • What new business models will emerge when the fan is also a co-creator?
    • Can AI be used to foster social good through sport, not just drive engagement metrics?

    This ongoing tension between “brand-dom” (controlled or innovative messaging) and “fandom” (grassroots, emotionally driven engagement) will continue to evolve as technology also evolves.

    Sport’s future won’t just be something we watch — it will be shaped by fans, athletes and technology working together, and it will keep changing faster than ever.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Savvy athletes and new technology are flipping traditional sports marketing on its head – https://theconversation.com/savvy-athletes-and-new-technology-are-flipping-traditional-sports-marketing-on-its-head-254596

    MIL OSI Analysis – EveningReport.nz –

    May 1, 2025
  • MIL-OSI USA: Durbin Delivers Remarks Honoring Fred Wertheimer As He Receives The Senator Paul H. Douglas Award For Ethics In Government

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin

    April 30, 2025

    In his remarks, Durbin praised the Paul Douglas Award recipient, Fred Wertheimer, for his dedication to strengthening American democracy

    WASHINGTON – U.S. Senate Democratic Whip Dick Durbin (D-IL) today delivered remarks honoring Fred Wertheimer, this year’s recipient for the University of Illinois System’s Senator Paul H. Douglas Award for Ethics in Government.  In his remarks, Durbin praised Mr. Wertheimer’s work as founder and President of Democracy 21, a nonpartisan, nonprofit dedicated to strengthening American democracy, safeguarding election integrity, and promoting government accountability.

    Named for the late Illinois Senator, the Senator Paul H. Douglas Award for Ethics in Government is presented to a person whose public actions and contributions have demonstrated a deep understanding and respect for ethical behavior and standards in government.  Past recipients include former President Barack Obama, the late Senator Paul Simon, the late Supreme Court Justice Sandra Day O’Connor, the late Supreme Court Justice John Paul Stevens, Dr. Anthony Fauci, and former Representative Liz Cheney.

      

    Photos of Durbin delivering his remarks can be found here.

    Durbin’s remarks as prepared for delivery are below:

    U.S. Senator Dick Durbin Remarks at Paul Douglas Award Ceremony

    April 30, 2025

    As prepared for delivery

    Thank you, President Killeen, for those kind words.  I want to welcome my dear friends, Jean Douglas Bandler and Ned Bandler, Senator Douglas’s daughter and son-in-law, his great-grandson, Matthew Douglas.

    It is always an honor to join the Douglas family, the University of Illinois, and its outstanding Institute of Government and Public Affairs in presenting the Senator Paul H. Douglas Ethics in Government Award.

    People ask me how I’ve survived 42 years in Congress.  The short answer is:  I try to follow the Gospel of St. Paul—by which I mean, I try to follow the examples of Paul Simon and Paul Douglas.

    They showed me that the bedrock of a long career in public service is a commitment to honesty and integrity.  Without that North Star to guide you, you are liable to get lost. I’ve seen it happen. 

    Paul Douglas held himself to high ethical standards—even stronger than Congress required—because he understood when people lose faith in their government, democracy crumbles.  That basic truth is also what has driven Fred Wertheimer for more than 50 years.

    I have known Fred for many of those years.  I admire him greatly.  I am also a big fan of his brilliant wife, Linda Wertheimer.  We’re honored that you could join us, Linda.

    For more than five decades—first at Common Cause and then at Democracy 21—he has been a leading voice in advancing the causes of honesty and integrity in government, free and fair elections, and protecting Americans’ right to vote.  The bedrock issues of democracy.

    Fred Wertheimer is not intimidated by Big Money or long odds, and he is not afraid of bullies—which means he is exactly the kind of leader America needs, urgently, now.

    Today is Day 101 of the second Trump Administration.   If America had been invaded by a hostile nation, I’m not sure they could have done so much damage, in such a short period of time, to our economy, our democracy, and our standing in the world.

    What would Professor Paul Douglas say about an Administration threatening to withhold federal funding for education and research—and jeopardizing universities’ solvency–in order to dictate what can be taught, and who can teach?

    What would economist Paul Douglas think of a President who needlessly drives up costs for America’s families and businesses and harms the global economy at risk by waging an

    incoherent trade war against our foes and allies?

    Our government is being dismantled, essential services are being crippled, and tens of thousands of federal workers are being fired, many illegally, on instructions from the richest man on Earth, who bought his influence in this Administration with hundreds of millions of dollars in cold, hard campaign cash.

    The autocrats and oligarchs are at the gate.  If Paul Douglas were here, he would be appalled, as we all should be.

    So, what do we do to save our democracy?  First, we need to break the corrupt chokehold of unlimited, unaccountable special interest money on our elections and public policies. 

    Second, we need to protect the right to vote.

    I know that you are committed to both of these imperatives, Fred, and I am with you.

    Finally, we must safeguard the independence and integrity of the judiciary.

    During the Biden Administration, Democrats held a majority, and I held the gavel on the Senate Judiciary Committee. And the Senate confirmed 235 federal judges of impeccable character and qualifications—including Supreme Court Justice Ketanji Brown Jackson.

    These and other federal judges are now holding the line against his most serious assaults on the rule of law.  We must continue to defend this line.  Without the rule of law, there is no democracy.

    In 1970, when John Gardner founded Common Cause, he knew he wanted Fred Wertheimer to spearhead its campaign finance reform efforts.  He warned Fred that that, quote: “Reform is not for the short-winded.”

    Fortunately, in the race to make our democracy more open, honest, and accountable, Fred Wertheimer is a long-distance runner and a champion.  He is a leader for these times, and a worthy recipient of the 2025 Senator Paul H. Douglas Ethics in Government Award.

    Congratulations on this well-deserved honor, Fred, and thank you for your decades of service to our democracy.

    And now, it is my pleasure to introduce Senator Douglas’ great-grandson Matthew Douglas, who is representing the Douglas family.

    -30-

    MIL OSI USA News –

    May 1, 2025
  • MIL-OSI Canada: B.C. pronounces provincial day of remembrance and mourning for victims of tragedy at the Lapu Lapu Day Festival

    The Province of British Columbia has declared Friday, May 2, 2025, an official day of remembrance and mourning for the victims of the tragedy at the Lapu Lapu Day Festival in Vancouver on April 26, 2025.  

    Eleven people were killed and dozens more injured while celebrating Filipino culture and history in a senseless attack at the Lapu Lapu Day Festival in Vancouver. As we learn more about the victims, we are also learning their loss is felt deeply across the province.

    This tragedy has had profound impact on the Filipino community in B.C. and many others in Vancouver and throughout the province.

    The day of remembrance and mourning is an opportunity for people in British Columbia to come together, grieve the loss of innocent lives and recognize the contributions the victims made to their communities and the province. It is also a time to offer comfort to all of those impacted, including those who have lost loved ones, those recovering and those who witnessed the horrific scene, and to offer deep appreciation to community partners, the police, paramedics and those working at the hospitals for their dedicated service at a trying time. Hundreds of volunteers and community members are also stepping up to help at a trying time.

    A backgrounder follows.

    People in British Columbia impacted by the tragic events at Vancouver’s Lapu Lapu Day Festival can access the following supports:

    • Anyone who witnessed or experienced trauma at the event is encouraged to access resources through the VPD Victim Services Unit: 604 717-3321 and VictimLinkBC: call or text 1 800 563-0808, or email 211-victimlinkbc@uwbc.ca to be connected to services that can help, including counselling resources. For details, visit: https://victimlinkbc.ca/
    • ICBC supports are available for people who have been injured, as well as witnesses and the family members of those killed, including counselling. For more information, visit: https://icbc.com/about-icbc/newsroom/2025-04-27-lapu-lapu-tragedy
    • B.C.’s crisis line at 310-6789 (no area code needed) is available for anyone who needs mental-health supports. Crisis lines provide immediate support in the moment, as well as connections to ongoing supports.
    • Crime Victim Assistance Program benefits are available to victims, immediate family members and witnesses: https://www2.gov.bc.ca/gov/content/justice/criminal-justice/bcs-criminal-justice-system/if-you-are-a-victim-of-a-crime/victim-of-crime/financial-assistance-benefits
    • School districts are also taking action to support students, staff and families, including making more counsellors available. A list of resources has also been sent out to districts throughout the province to provide to students and their families looking for support.
    • Supports are available for first responders and health-care workers who are on the front lines, and we encourage all workers to reach out to their employers and/or unions if they are struggling.
    • BC Emergency Health Service’s (BCEHS) Critical Incident Management Stress team is providing mental-health and wellness support to employees who have been affected by these events in addition to the support provided by BCEHS leaders and supervisors. 
    • Vancouver Coastal Health (VCH) staff and medical staff can contact the VCH Employee and Family Assistance Program to access confidential counselling and wellness any time, 24/7.

    The Ministry of Emergency Management and Climate Readiness (EMCR) is working closely with the City of Vancouver and meeting with Filipino BC, the Vancouver Emergency Management Agency (VEMA), the Red Cross, United Way and other partners to identify further supports required.

    Those wishing to sign the book of condolences for victims of this tragedy can visit the Hall of Honour at the B.C. legislature or visit: https://submit.digital.gov.bc.ca/app/form/submit?f=f4944988-5402-45a8-bb9c-7b2a95f928d9

    MIL OSI Canada News –

    May 1, 2025
  • MIL-OSI: Aimfinity Investment Corp. I Announces Transition from Nasdaq to OTC Markets and New Monthly Extension for Business Combination

    Source: GlobeNewswire (MIL-OSI)

    Wilmington, DE, April 30, 2025 (GLOBE NEWSWIRE) — Aimfinity Investment Corp. I (the “AIMA”) (Nasdaq: AIMAU), a special purpose acquisition company, today announced that, as anticipated, AIMA received a notice from The Nasdaq Stock Market LLC (“Nasdaq” or the “Exchange”), stating that in accordance with Nasdaq rules, its securities will be delisted from the Exchange. At the open of trading on Monday, May 5, 2025, AIMA’s securities will be suspended on Nasdaq and are expected to begin trading on the OTC Markets under the tickers “AIMAU,” “AIMBU,” and “AIMAW”, for its units, new units and warrants, respectively.

    AIMA’s previously announced business combination (the “Business Combination”) with Docter Inc. (“Docter”), a Taiwanese health technology company, which received shareholder approval on March 27, 2025, will not be materially affected by the venue change, as AIMA and Docter remain committed to working closely to secure Nasdaq listing approval for the post-combined entity and to close the Business Combination as soon as practicable.

    In addition, in order to extend the date by which AIMA must complete the Business Combination from April 28, 2025 to May 28, 2025, on April 28, 2025, I-Fa Chang, manager of the sponsor of AIMA, deposited into AIMA’s trust account (the “Trust Account”) an aggregate of $55,823.80, or $0.05 per Class A ordinary share held by public shareholders of AIMA (the “Monthly Extension Payment”).

    Pursuant to AIMA’s fourth amended and restated memorandum and articles of association (“Current Charter”), effective January 9, 2025, AIMA may extend the date by which AIMA must complete the Business Combination on a monthly basis from January 28, 2025 until October 28, 2025 or such earlier date as may be determined by its board of directors by depositing the Monthly Extension Payment for each month into the Trust Account. This is the fourth of nine monthly extensions available under the Current Charter of AIMA.  

    About Aimfinity Investment Corp. I

    Aimfinity Investment Corp. I is a special purpose acquisition company (SPAC) focused on merging with high-growth potential businesses and facilitating their entry into the capital markets.

    About Docter Inc.

    Docter Inc. is a leading health technology company dedicated to developing innovative health monitoring solutions that enhance the accessibility and efficiency of global healthcare services.
      

    Additional Information and Where to Find It

    As previously disclosed, on October 13, 2023, AIMA entered into that certain Agreement and Plan of Merger (as may be amended, supplemented or otherwise modified from time to time, the “Merger Agreement”), by and between AIMA, Docter, Aimfinity Investment Merger Sub I, a Cayman Islands exempted company and wholly-owned subsidiary of AIMA (“Purchaser”), and Aimfinity Investment Merger Sub II, Inc., a Delaware corporation and wholly-owned subsidiary of Purchaser (“Merger Sub”), pursuant to which AIMA is proposing to enter into a business combination with Docter involving an reincorporation merger and an acquisition merger. This press release does not contain all the information that should be considered concerning the proposed business combination and is not intended to form the basis of any investment decision or any other decision in respect of the business combination. AIMA’s shareholders and other interested persons are advised to read, when available, the proxy statement/prospectus and the amendments thereto and other documents filed in connection with the proposed business combination, as these materials will contain important information about AIMA, Purchaser or Docter, and the proposed business combination. The proxy statement/prospectus and other relevant materials for the proposed business combination have been mailed to shareholders of AIMA as of the record date of February 25, 2025, established for voting on the proposed business combination. Such shareholders will also be able to obtain copies of the proxy statement/prospectus and other documents filed with the SEC, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to AIMA’s principal office at 221 W 9th St, PMB 235 Wilmington, Delaware 19801.

    Forward-Looking Statements

    This press release contains certain “forward-looking statements” within the meaning of the Securities Act of 1933, as amended (the “Securities Act”) and the Securities Exchange Act of 1934, as amended. Statements that are not historical facts, including statements about the proposed transactions described herein, and the parties’ perspectives and expectations, are forward-looking statements. Such statements include, but are not limited to, statements regarding the proposed transaction, including the anticipated initial enterprise value and post-closing equity value, the benefits of the proposed transaction, integration plans, expected synergies and revenue opportunities, anticipated future financial and operating performance and results, including estimates for growth, the expected management and governance of the combined company, and the expected timing of the proposed transactions. The words “expect,” “believe,” “estimate,” “intend,” “plan” and similar expressions indicate forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties, assumptions (including assumptions about general economic, market, industry and operational factors), known or unknown, which could cause the actual results to vary materially from those indicated or anticipated.

    Such risks and uncertainties include, but are not limited to: (i) risks related to the expected timing and likelihood of completion of the proposed business combination, including the risk that the transaction may not close due to one or more closing conditions to the transaction not being satisfied or waived, such as regulatory approvals not being obtained, on a timely basis or otherwise, or that a governmental entity prohibited, delayed or refused to grant approval for the consummation of the transaction or required certain conditions, limitations or restrictions in connection with such approvals; (ii) risks related to the ability of AIMA and Docter to successfully integrate the businesses; (iii) the occurrence of any event, change or other circumstances that could give rise to the termination of the applicable transaction agreements; (iv) the risk that there may be a material adverse change with respect to the financial position, performance, operations or prospects of AIMA or Docter; (v) risks related to disruption of management time from ongoing business operations due to the proposed transaction; (vi) the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of AIMA’s securities; (vii) the risk that the proposed transaction and its announcement could have an adverse effect on the ability of Docter to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on their operating results and businesses generally; (viii) risks relating to the medical device industry, including but not limited to governmental regulatory and enforcement changes, market competitions, competitive product and pricing activity; and (ix) risks relating to the combined company’s ability to enhance its products and services, execute its business strategy, expand its customer base and maintain stable relationship with its business partners.
       
    A further list and description of risks and uncertainties can be found in the prospectus filed with the Securities and Exchange Commission (the “SEC”) on April 26, 2022 relating to AIMA’s initial public offering (File No. 333-263874), the annual report of AIMA on Form 10-K for the fiscal year ended on December 31, 2024, filed with the SEC on April 15, 2025, and in the final prospectus/proxy statement filed with the SEC on March 6, 2025 relating to the proposed transactions (File No. 333-284658) (the “Final Prospectus”), and other documents that the parties may file or furnish with the SEC, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and AIMA, Docter, and their subsidiaries or affiliates undertake no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

    Additional Information and Where to Find It

    In connection with the proposed transactions described herein, Purchaser filed the Final Prospectus with the SEC on March 6, 2025. The proxy statement and a proxy card has been mailed to AIMA’s shareholders of record as of February 25, 2025. Shareholders of AIMA will also be able to obtain a copy of the Final Prospectus without charge from AIMA. The Final Prospectus may also be obtained without charge at the SEC’s website at www.sec.gov. INVESTORS AND SECURITY HOLDERS OF AIMA ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE PROPOSED TRANSACTIONS THAT AIMA WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT AIMA, DOCTER AND THE PROPOSED TRANSACTIONS. 

    Participants in the Solicitation

    AIMA, Docter, and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of AIMA’s shareholders in connection with the proposed transactions described herein. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of AIMA’s shareholders in connection with the proposed business combination is set forth in the Final Prospectus.

    No Offer or Solicitation

    This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of any potential transaction and does not constitute an offer to sell or a solicitation of an offer to buy any securities of AIMA, Purchaser or Docter, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act or an exemption therefrom.

    Contact Information:

    Aimfinity Investment Corp. I
    I-Fa Chang
    Chief Executive Officer
    221 W 9th St, PMB 235
    Wilmington, Delaware 19801
    ceo@aimfinityspac.com  

    The MIL Network –

    May 1, 2025
  • MIL-OSI: Prospera Energy Announces 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, April 30, 2025 (GLOBE NEWSWIRE) — Prospera Energy Inc. (TSX.V: PEI, OTC: GXRFF) (“Prospera”, “PEI” or the “Corporation”)

    In Q4 2024, Prospera Energy underwent a strategic transformation under new leadership, shifting its focus toward reactivating existing wells within its core Saskatchewan heavy oil assets. This realignment is designed to improve production reliability and predictability, ultimately strengthening cash flow and overall financial stability. As part of this strategic shift, interim CEO Shubham Garg was appointed Chairman of the Board, and Darren Jackson assumed the role of Chief Operating Officer. As these changes take effect, PEI expects to benefit from increased access to financing, more efficient capital deployment, and enhanced financial performance in 2025. Prospera will host a live webinar conference call on May 1, 2025, at 11:00 a.m. MST to discuss 2024 results and the Company’s ongoing strategy: Click here to register.

    PEI has submitted its year-end financial information for 2024, which will be showcased on April 29th, 2025, within the Company’s issuer profile on SEDAR+ at www.Sedarplus.ca.

    Operational highlights for 2024 are as follows:

    • Realized $18.1 million in sales revenue in 2024, compared to $13.1 million in 2023.
    • Realized average gross sales of 652 boe/d in 2024, an increase of 29% from 2023 levels of 505 boe/d.
    • Realized average sales prices of $75.95/boe in 2024, compared to $71.48/boe in 2023.
    • Realized a positive operating netback of $6,013,280 in 2024, compared to $3,356,773 in 2023.
    • Realized positive funds flow provided by operations of $2,623,166 in 2024, compared to $190,823 in 2023.
    • Completed two working interest acquisitions in core Saskatchewan assets, resulting in a 17% increase in the average working interest in the region. As of December 31, 2024, PEI’s average working interest across all properties is 97% on a production weighted basis.
    • PEI’s 2024 third party reserves report highlights include the following:
      • NPV before tax for PDP reserves increased 3% from $27.1MM to $28.0MM at a 10% discount rate.
      • NPV before tax for PDNP reserves doubled from $8.5MM to $18.9MM at a 10% discount rate.
      • NPV before tax for 1P reserves increased 24% from $89.9MM to $111.4MM at a 10% discount rate.
      • NPV before tax for 2P reserves increased 20% from $133.3MM to $159.3MM at a 10% discount rate.
      • Gross 2P reserves increased by 26% from 5,403 to 6,793 Mboe (98% liquids).
    • In 2024 PEI raised $16.5m in financing:
      • $12.2 million through the issuance of senior debt.
      • $3.4 million through the issuance of a GORR.
      • $0.9 million through the issuance of promissory notes with warrants.
    • Increased Property and Equipment balance to $47.8 million from $39.3 million on December 31, 2023.
         
    Operating netback 2024 2023
    Total petroleum and natural gas sales 18,126,190 13,183,464
    Royalties (1,483,792) (1,365,520)
    Operating costs (10,629,118) (8,461,171)
    Operating netback 6,013,280 3,356,773
    Operating netback ($/BOE) 2024 2023
    Sales 75.95 71.48
    Royalties (6.22) (7.40)
    Operating costs (44.54) (45.88)
    Operating netback 25.19 18.20
    Assets ($) 2024 2023
    Current assets    
    Cash 364,083 118,933
    Trade and other receivables 1,874,548 3,244,596
    Prepaid expenses and deposits 393,207 548,443
    Inventory 564,802 521,426
    Total current assets 3,196,640 4,433,398
    Non-current assets    
    Trade and other receivables 1,676,252 4,387,826
    Deposits 1,283,422 1,015,400
    Property and equipment 47,776,659 39,331,690
    Total assets 53,932,973 49,168,314
         

    About Prospera

    Prospera Energy Inc. is a publicly traded Canadian energy company specializing in the exploration, development, and production of crude oil and natural gas. Headquartered in Calgary, Alberta, Prospera is dedicated to optimizing recovery from legacy fields using environmentally safe and efficient reservoir development methods and production practices. The company’s core properties are strategically located in Saskatchewan and Alberta, including Cuthbert, Luseland, Hearts Hill, and Brooks. Prospera Energy Inc. is listed on the TSX Venture Exchange under the symbol PEI and the U.S. OTC Market under GXRFF.

    Prospera reports gross production at the first point of sale, excluding gas used in operations and volumes from partners in arrears, even if cash proceeds are received. Gross production represents Prospera’s working interest before royalties, while net production reflects its working interest after royalty deductions. These definitions align with ASC 51-324 to ensure consistency and transparency in reporting.

    It is important to note that BOEs (barrels of oil equivalent) may be misleading, particularly if used in isolation. The BOE conversion ratio of 6 Mcf:1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

    For Further Information:

    Shawn Mehler, PR
    Email: investors@prosperaenergy.com

    Chris Ludtke, CFO
    Email: cludtke@prosperaenergy.com

    Shubham Garg, Interim CEO, Chairman of the Board
    Email: sgarg@prosperaenergy.com

    FORWARD-LOOKING STATEMENTS
    This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will,” “may,” “should,” “anticipate,” “expects” and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future plans and objectives of the Corporation, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

    Although Prospera believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Prospera can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.

    The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Prospera. As a result, Prospera cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward- looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and Prospera does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

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

    The MIL Network –

    May 1, 2025
  • MIL-OSI USA: Shaheen Statement on Sharp GDP Decline, Higher Costs in First Quarter of Trump Presidency

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen
    (Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH) released the following statement on the 2025 Q1 GDP estimate showing that the U.S. economy shrank during the first quarter of President Trump’s administration: 
    “100 days ago, America’s economy was growing and inflation was slowing. 
    “Instead of sustaining this economic trajectory, President Trump has driven our economy into a ditch with a self-inflicted trade war. This trade war targets our allies and close partners and is implementing the biggest tax increase in decades on working families — even as Elon Musk and DOGE illegally slash and hold up key investments in research, health care, agriculture and more. 
    “Americans elected Donald Trump in part because he vowed to lower the price of ‘everything’ – yet in the first quarter of Trump’s presidency, our GDP shrank, prices jumped and business leaders and economists across the political spectrum are saying a recession is likely this year. 
    “It’s time for the President to immediately reverse course, stop the wasteful trade war that is crushing small businesses and American families and lower costs like he said he would. Today, the Senate has a chance to do the right thing and vote to halt the largest of these tariffs – I hope my colleagues take that opportunity to help get our economy back on a better track.” 

    MIL OSI USA News –

    May 1, 2025
  • MIL-OSI USA: House Passes Rep. John James’ Resolution to Overturn Biden’s California Clean Trucks Rule, Protecting American Truckers and Consumers

    Source: United States House of Representatives – Congressman John James (Michigan 10th District)

    WASHINGTON, D.C. – Today, the U.S. House of Representatives passed a resolution led by Representative John James (MI-10) utilizing the Congressional Review Act (CRA) to overturn the Biden Administration’s approval of California’s Advanced Clean Trucks rule. This Biden era waiver would allow California to ram its comply-or-die “zero-emission truck” rule down the throat of America– essentially killing Michigan’s trucking industry. It would mandate truck makers to only sell zero-emission trucks which would increase vehicle prices for consumers, increase costs and manufacturing complexities for automakers, and convolute the regulatory environment.

    James’ legislation would nullify an overreaching and impractical mandate that threatens American consumers, small businesses, and the nation’s supply chain. The Advanced Clean Trucks rule, if left unchecked, would force costly transitions to electric trucks, driving up prices for goods and disproportionately burdening working families and truckers across the country. 

    “Michigan is not afraid of the future, but we demand to be a part of it. The Biden Administration left behind comply-or-die Green New Deal mandates that threaten to crush our trucking industry and drive-up costs for hardworking Americans,” said Congressman James. “I know — my family has a trucking company. Republicans are working hard to implement President Trump’s America First agenda, and the first step is repealing the rules and waivers that fueled Bideninflation.”

    “The passage of these resolutions is a victory for Americans who will not be forced into purchasing costly EVs because of California’s unworkable mandates,” said Chairmen Brett Guthrie and Morgan Griffith. “If not repealed, the California waivers would lead to higher prices for both new and used vehicles, increase our reliance on China, and strain our electric grid. The passage of these three resolutions will help to protect Americans from some of the worst policies of the Biden-Harris Administration. Thank you to Vice Chairman Joyce, Congressman Obernolte, and Congressman James for your work to ensure that families and businesses can continue choosing the vehicles they need.” 

    “This is not the United States of California. California should never be given the keys to set policies that impact our interstate supply chains. The trucking industry is grateful to our Congressional leaders who are removing Sacramento from the driver’s seat and restoring common sense to our nation’s environmental policies. ” Said Chris Spear, American Trucking Associations President & CEO.

    “The Truck Renting and Leasing Association (TRALA) is urging Congress to adopt the House resolutions this week authored by Congressman John James and his colleagues that would reverse the Biden EPA waivers that allows California to impose electric vehicle (EV) sales mandates,” said Jake Jacoby, Truck Renting and Leasing Association (TRALA) President & CEO. “TRALA wishes to thank Congressman James in his leadership on this critical issue and it asks the…Senate to follow suit and pass the CRAs immediately.”

    “America’s small business truck dealers want to sell trucks that their customers want to buy, and those trucks must be affordable and fit their customers’ needs,” said the National Automobile Dealers Association (NADA). “A one-size-fits-all ZEV mandate that restricts then bans the sale of diesel trucks would reduce customer choice without an affordable replacement and could have unintended consequences for the supply chain and the economy.”

    This bill is a part of a broader package introduced by the House Energy and Commerce Committee, which included two additional CRA’s:

    • H.J. Res. 88, introduced by Congressman John Joyce (PA-13), would reverse the EPA’s decision to approve a waiver granted to California allowing the State to ban the sale of gas-powered vehicles by 2035.
    • H.R. Res. 89, introduced by Congressman Jay Obernolte (CA-23), would put an end to the EPA’s decision to allow California to implement its most recent nitrogen oxide (NOx) engine emission standards, which create burdensome and unworkable standards for heavy-duty on-road engines.

    The California Clean Truck CRA builds on James’ efforts to push back on the Biden Administration’s burdensome regulations. In 2024, he successfully introduced a CRA to block Biden Administration rules on electric vehicle mandates for light- and medium-duty vehicles, as well as the National Labor Relations Board’s joint employer rule. His latest effort has garnered support from industry leaders, including the American Trucking Associations and the Owner-Operator Independent Drivers Association, who have praised the move to safeguard truckers and the broader economy. 

    Rep. James’ CRA to nullify the Clean Trucks rule passed the House with 231 bipartisan votes. This is James’ second legislative item to pass the House this week. 

    Click here to view the CRA text. 

    ###

    MIL OSI USA News –

    May 1, 2025
  • MIL-OSI China: China passes new law in major push to bolster private sector

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

    BEIJING, April 30 — China’s national lawmakers on Wednesday voted to adopt the country’s first fundamental law dedicated to promoting the private sector, underscoring support for a key part of the world’s second-largest economy.

    After over a year of legislative process, the private sector promotion law, passed at a session of the Standing Committee of the National People’s Congress, will take effect on May 20, 2025.

    The law stipulates that the promotion of the sustainable, healthy and high-quality development of the private economy is a significant and long-term policy of China.

    From ensuring fair market access and financing support to enhancing services and protection of original innovation, the 78-article law cements efforts to encourage, support and guide the growth of the private sector.

    The law will provide a clearer and more solid legal guarantee for the private sector, said Li Shuguang, a professor at China University of Political Science and Law.

    This marks China’s latest step in strengthening the sector — recognized by the law as a key component of the socialist market economy — amid efforts to tackle economic headwinds both at home and abroad.

    Officials and analysts view the formation and adoption of the law as “highly timely and absolutely essential,” given the private sector’s significant role in the economy.

    Boosting the private sector should feature prominently on the country’s economic policy agenda: Whether it is to stimulate domestic demand, expand the domestic market, or boost production and improve the quality of supply, private businesses will be a key participant and contributor, according to Anbound, an independent think tank in China.

    Private enterprises have long been a key driving force behind China’s economic growth, contributing more than 60 percent of GDP and 80 percent of urban employment. By the end of March 2025, the country’s more-than-57-million registered private enterprises made up over 92 percent of all businesses in China.

    From electric vehicle maker BYD to artificial intelligence innovator DeepSeek and robotics pioneer Unitree Robotics, private enterprises have also become key players in China’s push for innovation-driven growth.

    Yet, industry insiders note that challenges remain — domestically, private businesses may face financing constraints and invisible market access barriers in some sectors; while abroad, they must navigate increasing impact from external shocks.

    The law will transform policy support into legal guarantees, giving entrepreneurs greater reassurance and motivation to keep moving forward, said Qi Xiangdong, chairman of cybersecurity firm Qi-Anxin and vice chairman of the All-China Federation of Industry and Commerce.

    “The rule of law is the best business environment,” Qi said.

    In February, the country held a high-level symposium on private enterprises, which was widely viewed as a strong signal to boost the confidence and growth of the private sector.

    A month later, at the “two sessions”, the country reiterated support for private enterprises, vowing to take effective moves to stimulate the vitality of all market entities.

    To support the private sector, China has established a special bureau under the National Development and Reform Commission (NDRC) dedicated to serving the sector’s development. Multiple provincial-level regions, including Guangdong, Shanxi, Qinghai and Zhejiang, have all set up such bureaus.

    Efforts to level the playing field are also underway. Last week, the NDRC unveiled the new version of the market access negative list, which specifies fields that are off-limits to both domestic and overseas business entities, reducing the number of items on the list from 117 to 106.

    Nan Yi, chairman of Wontai Group, said the law will support private firms’ entry into sectors such as infrastructure and energy, and provide a strong guarantee for their continuous investment in research and development.

    “The enactment of this law will inject strong impetus into the sound development of the private economy,” Nan said.

    MIL OSI China News –

    May 1, 2025
  • MIL-OSI China: China’s economy demonstrates resilience amid uncertain external environment

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

    BEIJING, April 30 — China’s economic output continued to rise in April, though changes in the external trade environment brought a level of disruption to the manufacturing sector, the National Bureau of Statistics (NBS) said on Wednesday.

    In April, China’s composite purchasing managers’ index (PMI) stood at 50.2, indicating that overall business activity continued to expand, according to data released by the NBS.

    The PMI for the manufacturing sector fell to 49, while the PMI for the non-manufacturing sector came in at 50.4. The composite PMI is calculated based on the weighted average of the two indices.

    A reading above 50 indicates expansion, while a reading below 50 reflects contraction.

    NBS statistician Zhao Qinghe attributed the manufacturing PMI decline to a high base effect from the previous period’s rapid growth in the sector and drastic changes in the external environment.

    Wen Tao, an analyst at the China Logistics Information Center, said that April saw market demand and production cool temporarily amid rising external pressures, which also led to fluctuations in raw materials procurement and market prices.

    However, he noted that China’s economic fundamentals remain solid, supported by its supersized domestic market and resilient industrial and supply chains, along with policy measures that have helped sustain steady growth.

    Though overall manufacturing activity moderated, certain sectors continued to show resilience and growth.

    The PMI for high-tech manufacturing stood at 51.5 percent, well above the overall manufacturing level, with both production and new orders sub-indices exceeding 52 percent, reflecting the sector’s continued strong momentum.

    Sectors such as agricultural and sideline food processing, food, liquor, pharmaceuticals, and beverages and refined tea also saw their production and new orders sub-indices come in above 53 percent, driven by the continued release of demand potential in China’s supersized domestic market.

    Despite headwinds, business expectations remained in expansion territory, with the production and business activity expectations index standing at 52.1 percent in April.

    In particular, enterprises in sectors such as food, liquor, beverages and refined tea, automobiles, and railway, ship and aerospace equipment all saw their expectations indices rise above 58, indicating strong business optimism.

    In the non-manufacturing sector, the PMI has stayed above 50 for four consecutive months this year, indicating a stable pace of expansion.

    Business activity indices in sectors related to air transport, telecommunications, radio, television and satellite transmission services, internet software and information technology services, and insurance remained above 55, indicating robust growth in overall business volume.

    The business activity expectations index came in at 56.4, remaining in a relatively high range, with most services enterprises maintaining a positive outlook.

    China’s economy has started 2025 with renewed vigor, with its gross domestic product registering 5.4 percent year-on-year growth in the first quarter.

    Chinese policymakers recognized this positive trend at a high-level meeting of the Political Bureau of the Communist Party of China Central Committee last Friday, while cautioning that an economic recovery requires further consolidation to withstand intensifying external shocks.

    Looking ahead, it is imperative that the country coordinates domestic economic work with responses to international economic headwinds, and deals with the uncertainty of drastic changes in the external environment with the certainty of its own high-quality development, Zhao said.

    MIL OSI China News –

    May 1, 2025
  • MIL-OSI USA: Luján Statement on Senate Vote Rejecting President Trump’s Tariffs

    US Senate News:

    Source: US Senator for New Mexico Ben Ray Luján

    Washington, D.C. – Today, U.S. Senator Ben Ray Luján (D-N.M.), a member of the Senate Committee on Finance, issued the following statement after voting for a bipartisan resolution that would terminate the national emergency that President Trump declared as the basis for his reckless tariffs:

    “President Trump’s reckless tariffs have caused the economy to shrink for the first time in three years. Tonight, Democrats and Republicans made it clear that this is not the right course for the American economy.

    “In recent weeks, President Trump’s tariffs have wreaked havoc on our business community, farmers, manufacturers, and families. New Mexicans in every corner of the state are facing higher costs, shrinking life savings, and job insecurity. The President – who promised to lower costs on day one – is damaging the American economy and making life more expensive for American families and businesses.

    “These tariffs are new and drastic tax increases on hardworking New Mexicans. Democrats and Republicans alike know that President Trump’s tariffs are hurting their states. That’s why I voted with my colleagues on both sides of the aisle to send a clear message to President Trump that these reckless tariffs are taking a toll on the American economy and it must stop now.”

    MIL OSI USA News –

    May 1, 2025
  • MIL-OSI United Kingdom: Scotland’s most remote towns and villages get huge broadband upgrade as UK government vows to end digital exclusion plight

    Source: United Kingdom – Executive Government & Departments 2

    Press release

    Scotland’s most remote towns and villages get huge broadband upgrade as UK government vows to end digital exclusion plight

    Around 65,000 Scottish homes and businesses, including many in some of the most isolated areas of the United Kingdom, will receive access to fast, reliable broadband.

    Broadband upgrade for Scotland’s remote locations.

    • Around 65,000 homes and businesses in Scotland to gain access to lightning-fast broadband for the first time, helping to break down barriers to opportunity and kickstart economic growth under the Government’s Plan for Change

    • UK Government signs largest ever contract worth £157 million to bring gigabit-capable internet to the Highlands, Outer Hebrides, and hard-to-reach areas across most of Scotland

    • Rollout to help break down barriers to opportunity for those struggling to get online and boost local economic growth under the Government’s Plan for Change

    Around 65,000 Scottish homes and businesses, including many in some of the most isolated areas of the United Kingdom, will receive access to fast, reliable broadband as government helps break down barriers to opportunity and boost economic growth under the Plan for Change. 

    Digitally isolated communities across Scotland, where using the web can be almost impossible due to outdated infrastructure, will be able to work, bank, shop and study online without buffering, thanks to gigabit-capable broadband funded by the UK government.

    Several remote islands off Scotland’s west coast will benefit, including thousands of premises across the Outer Hebrides – a chain of over 100 islands where currently just seven per cent of premises can access gigabit broadband, among the lowest in the UK – as well as the isles of Skye, Islay and Tiree.   

    Rural parts of the Highlands will also be covered by this boost, such as Applecross, an extremely remote peninsula, and Durness, the most north-westerly village on the UK mainland.  

    The £157 million contract with Openreach is the largest ever under Project Gigabit. It will power up efforts to tackle digital exclusion across the entire UK – delivering the Prime Minister’s Plan for Change, from boosting local economic growth through giving businesses the vital tools they need, to improving access to public services like virtual NHS appointments.

    Telecoms Minister Chris Bryant said:

    Digital exclusion for people living and working in hard-to-reach areas across Scotland can be a huge obstacle to living a better and healthier life. Elderly and vulnerable people could miss out on the best treatment options in North Ayrshire, while budding entrepreneurs could be held back from their dream of running a successful business in Moray.  

    With our recent Digital Inclusion Action Plan, we have pledged to take everyone along with us in the digital revolution so that we don’t entrench existing inequalities as technological progress races ahead.  

    This huge UK Government investment is a commitment to using technology to make lives in Scotland better as well as turbocharging local economies to deliver on our growth mission under the government’s Plan for Change.

    Openreach Deputy CEO, Katie Milligan, said:

    Full fibre is the UK’s most reliable broadband technology, and more than half of Scotland’s homes can already order it thanks to Openreach. But we believe everyone deserves access to fast, reliable connections, so we’re proud to be helping extend access to communities that would otherwise be left behind. Our new network’s a catalyst for growth and jobs, with experts predicting it’ll bring a £4.4 billion boost to the Scottish economy and a raft of social and environmental benefits. We’re confident we’ll reach as many as 30 million UK premises by 2030, assuming the right economic conditions exist.

    Yvonne Boles, Senior Site Manager of Tayside Reserves at RSPB Scotland, said:

    We fell between a few gaps in local network improvements, but now we have gigabit capable fibre to the RSPB Loch Leven visitor centre, which has been a game changer for us.

    The old internet was constantly going down or being very slow, which impacted our ability to work in the office as well as taking card payments in both the shop and the café.

    We wasted so much time on the phone to IT trying to fix things for us. It’s been such a relief and a benefit to have reliable, powerful internet.

    The deal was struck under an £800 million agreement with Openreach announced last August as part of wider plans to end the plight of digital exclusion across rural Britain, with work already underway to connect over 227,000 premises in hard-to-reach parts of Wales and England as part of the agreement. The agreement is funded by the UK government who will work alongside the Scottish Government and Openreach to deliver the coverage.

    The contract will support significant work already being carried out through the Scottish Government’s R100 programme. It also builds on another Project Gigabit contract in Scotland, awarded in February through a partnership with the Scottish Government, for up to 11,000 premises in the Borders and Midlothian. More contracts are also expected to be signed later this year for Orkney, Shetland and across the east of Scotland.   

    Scottish Government Business Minister Richard Lochhead said:

    This new contract brings even more investment to Scotland and we are committed to working with the UK Government and Openreach to drive efficiencies across both the R100 and Project Gigabit programmes and maximise gigabit coverage.

    Through the Digital Scotland Superfast Broadband (DSSB) programme and our ongoing efforts with R100, over one million faster broadband connections have been delivered across Scotland through public investment – developing infrastructure, knowledge and experience that will be essential in ensuring the success of Project Gigabit in Scotland.

    Scottish Secretary Ian Murray said:

    This £157 million UK Government investment is a game changer for tens of thousands of homes and businesses in the most remote areas of Scotland. Rolling out lightning-fast broadband will equip and inspire local businesses to thrive, enable families to access vital services, and build resilient communities. Our Plan for Change recognises that rural communities are the backbone of our nation and economic growth must reach every corner of Scotland, ensuring that opportunity isn’t determined by postcode but by potential.

    Project Gigabit targets places too difficult or expensive for providers to reach in their commercial build and would otherwise be left behind with older digital infrastructure. The world-class networks being built across the UK is laying the foundations needed to kickstart economic growth, creating and supporting thousands of high-skilled jobs, empowering industries of all kinds to innovate and increase productivity by taking up digital technology.  

    It’s also crucial to the government’s mission to break down barriers to opportunity, ensuring people can access vital services now and in the future, no matter where they are, from government services like Universal Credit and HMRC to online courses for those looking to improve their job prospects through new skills to helping pensioners combat loneliness by catching up with loved ones over higher quality video calls.

    DSIT media enquiries

    Email press@dsit.gov.uk

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

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    Updates to this page

    Published 1 May 2025

    MIL OSI United Kingdom –

    May 1, 2025
  • MIL-OSI USA: Video: Kaine Speaks on Senate Floor in Advance of Vote on His Bipartisan Legislation to End Trump’s Global Tariffs

    US Senate News:

    Source: United States Senator for Virginia Tim Kaine

    FULL VIDEO OF KAINE’S FLOOR SPEECH IS AVAILABLE HERE.

    WASHINGTON, D.C. – Today, U.S. Senator Tim Kaine (D-VA) spoke on the Senate floor ahead of the Senate’s expected vote later tonight on his bipartisan legislation to repeal President Trump’s across-the-board tariffs that the White House announced on April 2. These tariffs are a national sales tax – in total, Trump’s tariffs will cost the average American household nearly $5,000 per year. In the wake of President Trump’s trade wars, manufacturers have already laid off workers, foreign countries have imposed retaliatory tariffs on U.S. agricultural and manufactured goods, and the economy has contracted.

    “The Constitution of the United States puts two powers clearly … within the hands of Congress: the power to tax and the power to conduct trade policy, including the imposition of tariffs,” said Kaine. “But President Trump finds Congress an inconvenience, and he has decided to take both of these powers onto his own shoulders by imposing a national sales tax.”

    “President Trump on Inauguration Day inherited the strongest economy on the Planet Earth,” Kaine continued. “We know this morning, that strong economy, which was growing for three years at a very solid pace, is now contracting. It’s not only the contraction of the economy, it’s the chaos of the stock market. It’s declining consumer confidence. It’s projections of recession by Federal Reserve districts and major economists.”

    “Last week, I traveled around the Commonwealth of Virginia,” Kaine said. “I talked to businesses everywhere in my state—and they talked about the layoffs, and they talked about the spending cuts, and they talked about the tariffs. And they added those three together and said what those three add up to is chaos—the chaos of unpredictability.”

    Kaine continued, “A tariff is nothing more than a sales tax. It’s a sales tax on the products that everyday Americans use, especially groceries and clothing, building supplies. For farmers, the cost of fertilizer that they need as they’re engaging in spring planting … This is a sales tax on everyone in the country, but it’s a sales tax—as all sales tax do—that falls hardest on those who can least afford it.”

    “A larger share of manufacturers are reporting declines in new orders … Some of those declines are driven because of the price effect of tariffs, the price effect of retaliatory tariffs, but some are also being driven by the uncertainty. There is a chaos penalty to the economy. When you’re not sure what’s going to happen, you slow your investments, and that’s why you see a decline in manufacturing,” Kaine said. “Businesses want to have predictability.”

    “So how did we get here? From an economy on Inauguration Day that was the strongest in the world—when President Trump stood 50 yards from here and said it was a golden age—to an economy that has nothing but red lights and question marks all over it?” Kaine asked. “We got here because one individual decided to bypass Congress to take both the taxing power and the trade power into his own hands without a debate, without a committee hearing, without deliberation, without considering what people thought about the plan, and that one man and his decisions have taken a chainsaw to the American economy.

    Kaine concluded, “We must turn this around, and the good news is the Senate has the ability to turn it around … All the economic trends are pointing the same direction. We should take a different path on the economy before it gets worse. The vote we will have later today gives the Senate—the greatest deliberative body in the world—the chance to stand up and say ‘Let’s take a different path.’”

    Earlier this month, bipartisan legislation led by Kaine to reverse President Trump’s tariffs on Canadian goods, which amount to a 25 percent tax on imports, passed the Senate.

    MIL OSI USA News –

    May 1, 2025
  • MIL-OSI: Westport Announces Lock-Up Agreements in Support of the Light-Duty Divestment Transaction

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, April 30, 2025 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“Westport” or the “Company”) (TSX:WPRT / Nasdaq:WPRT), has entered into lock-up agreements with certain of its shareholders, executives and board members representing an aggregate of approximately 2.0 million shares, or 11.4% of the currently issued and outstanding shares, to vote in favour of the special resolution approving the sale of Westport Fuel Systems Italia S.r.l. (the “Lock-Up Agreements”).

    “These Lock-Up Agreements are a significant vote of confidence in Westport’s strategic direction and growth potential.  I am thankful to our key shareholders and our Board, for their continued support as we execute our plans to reduce the complexity of Westport’s business and move forward focusing on providing affordable solutions for hard to decarbonize segments of the heavy-duty truck and industrial application, supported by a strengthened balance sheet,” said Dan Sceli, Chief Executive Officer, Westport Fuel Systems.”

    Recap of the Transaction

    On March 31, 2025 Westport announced it had entered into a binding agreement (the “Agreement”) to sell its interest in Westport Fuel Systems Italia S.r.l., which includes the Light-Duty segment, including the light-duty OEM, delayed OEM, and independent aftermarket businesses, to a wholly-owned investment vehicle of Heliaca Investments Coöperatief U.A. (“Heliaca Investments”), a Netherlands based investment firm supported by Ramphastos Investments Management B.V. a prominent Dutch venture capital and private equity firm (the “Transaction”).

    The Transaction provides for a base purchase price of $73.1 million (€67.7 million), subject to certain adjustments, and potential earnouts of up to an estimated $6.5 million (€6.0 million) if certain conditions are achieved, in accordance with the terms of the Agreement.

    Under the terms of the Agreement, Heliaca Investments through its subsidiary will acquire Westport’s Light-Duty segment, including its related assets and customer contracts. The Transaction is subject to shareholder approval and other customary closing conditions and is expected to close in late Q2 of 2025.

    The proceeds from the proposed Transaction are expected to enable Westport to significantly improve its financial stability, while also supporting key growth initiatives focused on providing solutions for hard-to-decarbonize mobility and industrial applications. Following closing, Westport intends to align its cost structure to be more reflective of a smaller, more efficient organization, while also seeking further opportunities for efficiency gains.

    About Westport Fuel Systems

    At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global transportation industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, we serve our customers in approximately 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit www.wfsinc.com.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements, including statements regarding the closing of, and timing for closing of, the Transaction, shareholder approval of the Transaction, the anticipated benefits of the Transaction, including potential earn-out payments, the ability to strengthen our balance sheet and align our cost structure, the ability to capitalize on growth initiatives, the ability to transition to a smaller, more efficient organization and our expectations regarding the future success of our business. Other forward-looking statements included in the release include those relating to Westport’s future strategic plans, business opportunities and use of the Transaction proceeds. These statements are neither promises nor guarantees but involve known and unknown risks and uncertainties and are based on both the views of management and assumptions that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activities, performance, or achievements expressed in or implied by these forward-looking statements. These risks, uncertainties, and assumptions include those related to completion and satisfaction of all conditions to closing of the Transaction set out in the Agreement, governmental policies, regulation and approval, the achievement of the performance criteria required for the earn out described above, purchase price adjustments contained in the Agreement, the demand our products, as well as other risk factors and assumptions that may affect our actual results, performance, or achievements, as discussed in our most recent Annual Information Form and other filings with securities regulators. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. We disclaim any obligation to publicly update or revise such statements to reflect any change in our expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in these forward-looking statements except as required by National Instrument 51-102. The contents of any website referenced in this press release are not incorporated by reference herein.

    Investor Inquiries:
    Investor Relations
    T: +1 604-718-2046
    E: invest@wfsinc.com

    The MIL Network –

    May 1, 2025
  • MIL-OSI: Automotive Finco Corp. Files Audited Consolidated Financial Statements For The Years ended December 31, 2024 and December 31, 2023

    Source: GlobeNewswire (MIL-OSI)

    Not for distribution to United States newswire services or for dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. 

    TORONTO, April 30, 2025 (GLOBE NEWSWIRE) — Automotive Finco Corp. (NEX: AFCC-H) (the “Company”) today announced that it has filed audited consolidated financial statements for the years ended December 31, 2024 and December 31, 2023. The statements, together with the Management Discussion and Analysis, can be found on the Company’s SEDAR+ profile at www.sedarplus.ca.

    About Automotive Finco Corp.

    Automotive Finco Corp. is a finance company focused exclusively on the auto retail sector. In addition to its interest in Automotive Finance Limited Partnership, the Company may also pursue other direct investments and financing opportunities across the auto retail sector.

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

    For further information please refer to the Company’s website at www.autofincocorp.com or contact Shannon Penney, Chief Financial Officer, at shannon.penney@rogers.com or (905) 619-4996.

    The MIL Network –

    May 1, 2025
  • MIL-OSI USA: Subcommittee Chairman Ezell Secures Major Wins for the U.S. Coast Guard in Transportation & Infrastructure Committee Markup

    Source: United States House of Representatives – Congressman Mike Ezell (Mississippi 4th District)

    Today, Congressman Mike Ezell (MS-04), Chairman of the Coast Guard and Maritime Transportation Subcommittee, announced significant victories for the U.S. Coast Guard following the Transportation and Infrastructure Committee’s markup of its Budget Reconciliation legislation. The bill includes $21.2 billion in investments to strengthen the U.S. Coast Guard’s mission.

    “Today’s markup represents a historic and transformative investment in America’s maritime industrial base and readiness. Working alongside my colleagues and President Trump, we’ve significantly increased funding for Coast Guard shipbuilding. This essential funding is critical to reversing what Coast Guard leadership has described as a ‘readiness death spiral’ directly addressing urgent national security requirements, particularly those arising from increased geopolitical competition and operational demands in the strategically significant Arctic region,” Chairman Ezell said. “Our goal is to deliver timely, efficient, and strategic enhancements to the Coast Guard fleet while safeguarding American interests and promoting strong domestic economic growth. I have full confidence in the American shipbuilding industry’s capacity and capability to meet this urgent national requirement using domestic resources and expertise. While international collaboration can offer strategic advantages, it also raises significant national security and economic concerns. Our dedicated Coast Guard personnel deserve robust and reliable resources to effectively protect our maritime interests and national sovereignty. By strengthening the Coast Guard’s capabilities, we’re investing in national security—something South Mississippi has long contributed to.”

    “As the largest segment of American maritime, the tugboat, towboat, and barge industry is proud to be a longtime partner to the United States Coast Guard in ensuring the safety, security, and reliability of the U.S. maritime transportation system. We commend the House Transportation & Infrastructure Committee for its leadership in proposing generational investment in the Coast Guard to provide it with the resources needed to execute its broad and vital mission set,” Jennifer Carpenter, President & CEO, The American Waterways Operators said.

    “The American Maritime Partnership strongly supports this generational investment in the U.S. Coast Guard, which plays a central role in defending our homeland, strengthening U.S. national security and enforcing the Jones Act. This funding equips our service members with essential modern assets while strengthening America’s maritime capacity, critical to our economy and supply chain. We thank T&I Chairman Sam Graves and Coast Guard and Maritime Transportation Chairman Mike Ezell for their leadership in securing our waters,” the American Maritime Partnership said.

    “This investment represents a critical commitment to the Coast Guard’s national security mission — from stopping the flow of illegal drugs, to securing our ports and projecting presence in the Arctic,” Matthew Paxton, President of the Shipbuilders Council of America said. “These vital duties demand modern, state-of-the-art assets, built and maintained by America’s shipyard industrial base. We applaud Chairman Ezell, Ranking Member Carbajal, and the Subcommittee for recognizing that protecting our maritime borders begins with investing in our nation’s Coast Guard.”

    Key provisions include:

    • $1 billion for the construction of Fast Response Cutters (FRCs)—vital for operations in drug interdiction, search and rescue, and port security. 

    • $4.3 billion for continued development and procurement of Polar Security Cutters, which will expand the Coast Guard’s operations in the Arctic and help safeguard American sovereignty in increasingly contested waters.

    • $4.978 billion for Arctic Security Cutters and domestic icebreakers.

    • $3.154 billion for shoreside infrastructure, of which $400 million is for hangars, maintenance, and crew facilities for fixed wing aircraft and rotary wing aircraft, $2.33 billion is for homeports for Offshore Patrol Cutters, Fast Response Cutters, Arctic Security Cutters, Polar Security Cutters, domestic ice breakers, including the USCGC STORIS, and National Security Cutters, and  $425 million for design, engineering, construction management of, and program management for enlisted boot camp recapitalization, including barracks’ replacement and a multi-use training center.

    • $1.3 billion for aviation, cutter, and shoreside facility depot maintenance, of which $500 million is for a floating dry dock; and $180 million for maritime domain awareness, of which $75 million is for autonomous surface assets.

    In total, the Coast Guard will receive $21.2 billion to bolster readiness, recapitalize aging assets, and support mission-critical operations across the globe. This includes enhanced capabilities to confront the growing emergency at our borders, combat transnational crime, and respond to evolving national security threats.

    MIL OSI USA News –

    May 1, 2025
  • MIL-OSI USA: In Senate Floor Speech, Senator Murray Calls Out Trump’s Staggeringly Lawless and Inhumane Immigration Policy

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    60 Minutes: U.S. sent 238 migrants to Salvadoran mega-prison; documents indicate most have no apparent criminal records

    ***WATCH: Senator Murray’s remarks on the Senate Floor***

    Washington, D.C. – Today U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, took to the Senate floor to deliver a speech on President Trump’s lawless immigration policy. Senator Murray highlighted the absence of any semblance of due process for—in many cases—legal residents with no criminal record being detained and deported—and even sent to a prison in El Salvador with no outside contact and no end date. She also discussed how Trump’s crackdown has caused confusion for international students, fear among farmworkers, and led to U.S. citizens being detained, having their homes raided, and even to some U.S. citizens who are children being deported with their parents.

    Emphasizing the complete lack of transparency from the Trump administration on why the people sent to El Salvador are being detained and what is being done to bring them home, Senator Murray demanded more information from the Trump administration about its recent actions—from the full details of the secret agreement with El Salvador, to the names of all the individuals sent to El Salvador, their current status, what sort of evidence and process has been afforded them, and what sort of contact they can make with lawyers and family. She also pressed for a good faith effort to follow Supreme Court orders, to return everyone wrongly sent to El Salvador, and to establish lines of communication for individuals to speak with their lawyers and families.

    “I heard from one of my Republican colleagues say last week ‘I don’t see any pattern here.’ Well, I ask him now—I ask everyone now—to pay attention to the full picture. Because of course you won’t see the pattern if you just look at one case and you ignore the many, many others,” said Senator Murray. “There is the case of Andry Hernandez Romero, he’s a barber who came here legally, he has no criminal record. There is the case of Arturo Suárez Trejo, he’s a musician, he came here legally, he has no criminal record. There is the case of Merwil Gutiérrez, who—you guessed it—came here legally, no criminal record. In fact, he was apparently grabbed by mistake. One officer reportedly said ‘No, he’s not the one,’ and another said, ‘Take him anyway.’ Trump sent them all to a maximum-security prison in El Salvador—with no trial. Disappeared. They have no contact with their lawyer. No contact with family. We do not know if they are alive, and they don’t know if anyone is even advocating for them. How hopeless that must feel. How dark. So, is that enough of a pattern for my Republican colleagues? Do you still need more?”

    Senator Murray has championed comprehensive and humane immigration reform throughout her Senate career, repeatedly pushing for legislative solutions that would offer a fair pathway to citizenship for the more than 11 million undocumented immigrants living in America, including Dreamers, farmworkers, and those with Temporary Protected Status. During Trump’s first administration, Senator Murray helped lead the charge in pushing back against Trump’s appalling treatment of migrant children and families at the southern border— cosponsoring the Fair Day in Court for Kids Act, which would require unaccompanied children and vulnerable individuals to be provided with legal assistance during immigration court proceedings, the Stop Cruelty to Migrant Children Act to end family separations at the border, and legislation to prevent the separation of families at sensitive locations such as schools, religious institutions, and hospitals, among many other efforts.

    Senator Murray’s remarks, as delivered, are below, and video is HERE:

    “Thank you, M. President.

    “Over the past month we have seen a wave of righteous outrage across the country in response to President Trump’s completely lawless move to disappear hundreds of people to a notorious mega-prison in El Salvador, without even the barest semblance of due process.

    “And as I join my colleagues in calling for the Trump Administration to abide by the Supreme Court ruling, and facilitate the release of Kilmar Abrego Garcia—a man they said, in court, was sent to El Salvador by mistake—I have to emphasize, his case is one of many where Trump has completely shredded our norms and laws. In addition to Garcia, Trump sent off some two hundred people—including innocent people who were in our country legally—to a foreign prison without any due process whatsoever.

    “And they did it all on the basis of some arrangement negotiated in secret and paid for with millions of taxpayer dollars. What we do know, is that many of these people were sent there without any criminal conviction—the Administration actually admitted that! In their own court filing the Trump Administration acknowledged that many of these people have no criminal records in the U.S. And yet, all of these people have now been imprisoned in a foreign country with no end date in sight—unconstitutional doesn’t even begin to cover that.

    “There are so many questions, basic questions, about this that we all should be demanding answers to. At the barest, smallest, slimmest minimum, and I mean as a starting point, the Administration must release more details about this secret agreement where it is paying El Salvador with our taxpayer dollars to imprison people without a trial. Details like: who all is being imprisoned, how long is El Salvador holding these people with  Trump’s orders, how many people is El Salvador going to imprison under this agreement, what outside contact is possible for those people, and how do we learn their status and condition—are they alive, are they healthy? What are those details?

    “Most of these details we do have are from reporting—and news reports say the deal was only for El Salvador to take convicted criminals—so why did Trump send people with no criminal record? And importantly: where in the world is this money coming from? Does anyone here remember voting to pass a single dollar in appropriations to fund a torture prison in El Salvador? Because I sure don’t! And last I checked Congress has the power of the purse.

    “You know what else we don’t know? We still don’t know the names of everyone they did this to. Think about that. We don’t even have their names! That information should be released immediately. Today. Because there are families who still have no confirmation where their loved ones are, and the only list we have right now was not even released by the Administration! It was reported by the press.

    “Some families only learned their son was gone, their husband was gone, their father was gone, through photos of them being marched into a torture prison. This is the first, last, and only update we have on just about all of those people. We don’t know if they are alive. We don’t know if they are being treated decently. We don’t even know if they have been moved. Even their lawyers can’t reach them.

    “Here’s what we do know: there are many names on the El Salvador list of people who were here legally, who had no criminal record. That seems to be getting lost in the debate for some of my Republican colleagues. This is not about any one case, or any one person, it is about a lawless system for the President to deny due process. And when you cut out due process, you put innocent people in harm’s way.

    “I heard from one of my Republican colleagues say last week ‘I don’t see any pattern here.’ Well, I ask him now—I ask everyone now—to pay attention to the full picture. Because of course you won’t see the pattern if you just look at one case and you ignore the many, many others.

    “There is the case of Andry Hernandez Romero, he’s a barber who came here legally, he has no criminal record.

    “There is the case of Arturo Suárez Trejo, he’s a musician, he came here legally, he has no criminal record.

    “There is the case of Merwil Gutiérrez, who—you guessed it—came here legally, no criminal record. In fact, he was apparently grabbed by mistake. One officer reportedly said ‘No, he’s not the one,’ and another said, ‘Take him anyway.’

    “Trump sent them all to a maximum-security prison in El Salvador—with no trial. Disappeared. They have no contact with their lawyer. No contact with family. We do not know if they are alive, and they don’t know if anyone is even advocating for them. How hopeless that must feel. How dark. 

    “So, is that enough of a pattern for my Republican colleagues? Do you still need more?

    “Because there’s also Jerce Reyes Barrios, he’s a soccer player, he came here legally. Again—no criminal record.

    “There’s Gustavo Aguilera, a food delivery driver. Legally here. No criminal record.

    “Or Anyelo Sarabia. Here legally. No criminal record.

    “I mean, how many more before my colleagues can actually admit this is a pattern? How many people have to be disappeared with no due process before it becomes a problem? Because for me—one is too many. And the pattern isn’t even over yet. Trump was reportedly ready to disappear even more people to El Salvador—before the Supreme Court put its foot down. In this latest round, the Trump Administration was preparing to disappear a man who came here legally, had no record, except traffic violations!

    “Another was a young man accused of being a gang member because of a photo with a toy water gun. That is the level of so-called ‘evidence’ that gets you locked away in a foreign torture prison under President Trump. And I will keep saying it Mr. President, most of the people they disappeared have no criminal records, and many were even here legally. They came here for a better life, and Trump disappeared them based on nothing more than tattoos that say ‘mom’ and ‘dad,’ or that they celebrate soccer teams, or a daughter’s birth, or autism awareness.

    “And Mr. President, I realize, I keep hammering home that—many of these people are not criminals—and many of these people came here legally. But I do want to remind my colleagues, this question is not whether someone who was vanished to El Salvador without a trace is good or bad, the question is whether everyone in this country—including American citizens—have the rights they were promised in our Constitution.

    “At the end of the day, this is not about who these people are, it is about who we are—whether we are a country of due process, or not. A country of laws, or not.

    “Trump has said where he stands. He literally said ‘We don’t have time’ to give them due process. If the Trump Administration think’s someone is a criminal, if they are really bad and dangerous, prove it in court. Prove it! Just simply prove it! It shouldn’t be hard. That is how this works. Everyone in this country understands that.

    “You can’t just say ‘criminals don’t get due process’—when due process is how you determine who is a criminal in the first place! I mean, in the case of one person they sent to El Salvador, not only did the government’s file against him show no criminal record, it also got his name wrong several times, and used two different identification numbers! Those are pretty major errors to make when you are locking someone away. The kind of errors that due process helps to avoid.

    “That’s not some theory—we are seeing that happen in another case right now. There is a couple that Trump is saying are part of a gang, but instead of just disappearing them with no trial to speak of, the Administration was forced to prove it, to prove it in court. And you know what happened? The government failed. The judge found the government’s claims, ‘completely and wholly unsubstantiated’ and ordered the couple to be released.

    “That just goes to show, if we ignore our laws, if we tear down the guardrails that saved that couple, it’s not criminals who pay the price, it is innocent people. Because due process protects them too! Due process allows us to confirm whether people are lawfully present. Due process lets us confirm whether Trump is about to send them to a foreign prison. Due process lets us confirm whether people are guilty—instead of going off how they look, or what tattoo they have.

    “And at the end of the day, due process means they get an actual determination of guilt or innocence, instead of getting disappeared with a question mark. But no one here was told they are facing ‘X’ years in a foreign prison.

    “There is no end date in El Salvador! Because there was no sentence! Because there was no trial! There was just Trump, ignoring our laws, ignoring our courts, and sending people to gulags to rot, to die, to never be heard from again. How can anyone ignore that outrageous breach of our laws—of our values!

    “And M. President—as a co-equal branch of this government, I want to impress upon my colleagues: It is not just due process that is getting trampled here, it is basic checks and balances. Trump is imprisoning these people under the Alien Enemies Act. He is using a war power. We are not at war! Everyone here should know that. After all, Congress, we, have to vote to declare war. I remember every war vote we have taken in my time here in Congress—and I can tell you—there has never been a vote on this so-called war Trump declared all on his own.

    “As if that weren’t enough, earlier this month the National Intelligence Council, the National Intelligence Council, determined that Venezuela is not directing an ‘invasion’ by gangs. That directly undercuts what Trump claimed when he announced his illegal end run around Congress. Here’s a simple question for everyone, there is no invasion, there is no war, so why is Trump invoking a wartime authority?

    “But add on top of that—that Trump has reached some secret, multi-million-dollar deal to pay El Salvador to imprison these people without a trial. I’m Vice Chair of the Appropriations Committee—I can tell you, we did not include a single cent—not one penny!—for running torture prisons in El Salvador in our last funding bill.

    “Congress has the power of the purse, but Trump is picking our pockets to fund his own personal gulag. And by the way, while we talk about checks and balances, let’s not forget how the Trump Administration is arresting judges, his allies and advisors are attacking judges publicly and calling to impeach those who disagree with him, and of course, Trump is blatantly ignoring the courts. And worse than that, the White House is in open defiance of the Supreme Court.

    “The Supreme Court wrote the Administration must facilitate Mr. Garcia’s release. The White House wrote that he is never coming back.

    “The Supreme Court wrote people being targeted under the Alien Enemies Act must have a reasonable opportunity to file for habeas corpus. The Trump Administration said, ‘no—we will give them 12 hours.’

    “Foreign policy is not an end run around the courts or the constitution. The President cannot just be given unilateral authority to cut completely unethical deals with foreign nations. What happens when a President negotiates in secret to have his political rivals detained abroad? Is that allowed? Can he argue the courts can’t require him to call such a deal off? Or maybe he just denies it and says any agreements are state secrets? Does that work?

    “If President Trump said he would pay El Salvador $6 million to assassinate his rivals—I think we would all agree that is blatantly unconstitutional. And if the court said he had to facilitate a reversal of that deal, and he said ‘well.. it’s a sovereign nation… I can’t stop them from assassinating anyone,’—I think we all would have a huge problem with that. So, do we want to say that is wrong now—or are we going to have to wait until he tries it?

    “What are we waiting for? We cannot just all stand by silent as the President pries open a pandora’s box that is all together unprecedented—and that poses a direct threat to our Republic. And let’s cut through this BS where Trump and El Salvador are both trying to pretend there is no way to facilitate the return of people sent there wrongly.

    “Cause here’s the thing: El Salvador has already sent back people that Trump tried to disappear. El Salvador immediately sent back a Nicaraguan individual. And they sent back women—yeah, Trump tried to disappear women to their all-male torture prison in El Salvador. If anyone wants to try and pretend this was some careful vetting process, pleaseexplain that to me. So it’s not like El Salvador can’t send people back—they have already done that.

    “The Administration should be making clear—one: that these people were wrongly sent, and two: that, as with others wrongly sent, they need to be returned. Though, I want to keep in mind of course, that ‘wrongly sent’ is still an enormous understatement. The reality is these people were completely denied due process. The reality is President Trump is not just disappearing these people to El Salvador, he is disappearing our most basic constitutional rights, and he is doing it in plain sight.

    “Not just in El Salvador either! Right here, in America, his immigration crackdown is upturning lives, and overturning some of our most basic values, like freedom of speech. We have people who are here legally—who are being detained and threatened with deportation. Not for any crime, not for any violence, but for speech, for protest, for things as simple and fundamental as writing an op-ed the Administration disagreed with.

    “In America, the land of the free and the land of free speech, is dissent the bar for deportation now? Is that what this country has come to? What next? How far does Trump’s new standard apply? Can you get deported for saying we shouldn’t invade Canada? Can you get detained for an op-ed saying Greenland is not going to be a state? Are you going to have legal status revoked for admitting Biden won the 2020 election?

    “Because that may seem outrageous—but it also seems perfectly in line with Trump’s new policy which amounts to—disagree with the President and your rights are gone. That is fundamentally un-American.

    “And beyond people who are being targeted for protest, there are thousands of students in this country, that Trump is trying to push out over minor issues; fishing citations, jay walking, speeding tickets, even charges that were dismissed. So far, some 1,800 foreign students are having their visa revoked with little to no explanation, to say nothing of due process.

    “That includes students in Washington state, my homes state, at the UW, at Gonzaga, at Shoreline Community College—where I once worked—my alma mater WSU, and more! It’s not clear whether these students have done anything wrong, and it’s not clear in some cases—what exactly they are supposed to do next. Because when the Administration can’t revoke visas—it has been trying to remove students’ records—something courts have already ruled against.

    “One of the judges really put it best. And I want to read this and quote it to you. This is a judge. ‘I’ve got two experienced immigration lawyers on behalf of a client who is months away from graduation, who has done nothing wrong, who has been terminated from a system that you all keep telling me has no effect on his immigration status, although that clearly is BS. And now, his two very experienced lawyers can’t even tell him whether or not he’s here legally, because the court can’t tell him whether or not he’s here legally, because the government’s counsel can’t tell him if he’s here legally.’

    “M. President, the point seems to be, if we can’t deport you, we can scare and confuse you. And to add even more confusion, DOJ announced they were reversing course on some of this, only to then say they are still working on a plan to push out all these students. And by the way, we are only still scratching the surface of just how inhumane Trump’s immigration crackdown has become.

    “Trump is slashing funds to ensure 26,000 migrant kids have legal assistance—meaning more four-year-olds are being marched in front of immigration judges, expected to make their own legal case with a plushy toy. Trump is also trying to mass cancel protected status for people who came here who were fleeing harsh conditions and dictators. Trump is sending Christian refugees and women back to live under the Taliban—where they will face near certain persecution. Trump is sending ICE officials to elementary schools, where they have tried to gain access by lying about having permission from parents to speak with their kids.

    “ICE officials are arresting people with maximum violence and lawlessness—showing up without a judicial warrant, since the Trump Administration says it is fine to storm into someone’s house without one, showing up in masks, grabbing people off the streets without any badge or identification to distinguish them from a kidnapper, whisking people away in unmarked cars, and even smashing in windshields.

    “M. President, back in my home state of Washington—I have heard from folks who saw that firsthand. Last month, ICE aggressively detained Lelo, a farmworker in my state—and it appears he may have even been targeted because of his advocacy for better working conditions for his fellow farmworkers. They are still denying him bond—despite no criminal charges. I spoke with his wife last week—who watched in horror as they arrested her husband shortly after he dropped her off at work. She told me through tears about how officers broke his window and pushed him against the car. And how, Lelo wants to be free so he can take care of his brothers and sisters and work so they can study. He wants to continue doing his work in the community and with the union. And they are working right now to try and get bond—something I strongly support. This is not someone M. President, with a dangerous record—it is someone with a record of hard work, and of trying to make his community better.

    “Skagit County is known for its agricultural industry—and that industry doesn’t survive without the immigrant farmworkers who help power that local economy. Period.

    “More than that, we are talking about many families who have been here for decades. They are part of our community—they’re not just the people who feed this country. These people work hard, they follow the law. They should not be terrorized as if they were violent criminals. Last week, I met with farmworkers there who told me there have been days they have been afraid to go to work, because an unmarked vehicle was seen in their neighborhood. They are absolutely terrified of being grabbed off the street by ICE and locked up with no semblance of due process, regardless of their legal status.

    “And this situation is not unique to Skagit County or even to my state. It’s happening across the country. Let’s not forget, Trump is trying to deport a cancer researcher to Russia where she fears retaliation for protesting the war in Ukraine. Sending her away would both put her in danger and completely upend groundbreaking cancer research—her colleagues say her role is irreplaceable.

    “But it’s not just cancer research, Trump also deported a little girl, a U.S. citizen, who was on her way to get cancer treatment! She was with her mother, an undocumented immigrant—who was forced to choose between being separated from her 10-year-old daughter or being sent away together. What an unthinkable choice to force on a mother. What an unthinkable thing to do to a child, a citizen, a citizen who is fighting cancer.

    “And Trump has done that twice. That’s right twice, he has deported a mother—along with a kid who is fighting cancer—a kid who is an American citizen. And he is doing that without giving these parents any meaningful time to talk to a lawyer, or a spouse, to figure out what is best for their child. We know that because Trump deported another U.S. citizen last week—that’s right another one. Trump deported a two-year-old, an American citizen. They refused to tell this kids’ father where his wife and kid were being held. They refused to let him talk to his wife for more than a minute. They even forced him to hang up the phone when he tried to give his wife their lawyer’s number. And then, as the judge put it, they seem to have ‘deported a U.S. citizen with no meaningful process.’

    “And now we are hearing about a family in Oklahoma—U.S. citizens who recently moved in who had their home raided by ICE. A mom and her daughters—forced out of their house, in the rain, in underwear. ICE agents seized phones, laptops, even their full life savings—and didn’t leave so much as a number they could call to get their stuff back. That happened to U.S. citizens, who did nothing but move into a new house.

    “These horror stories underscore something important—Trump’s cruel war on immigrants is hurting American citizens too. U.S. citizens are having their spouses ripped away, even servicemembers are seeing their families targeted. They are having their parents ripped away. They are having their lives turned upside down.

    “And—let’s not forget—U.S. citizens are even being detained by this administration. We have several instances now—where American citizens have been caught up in Trump’s immigration crackdown. American citizens have been detained and wrongly locked up—even after someone showed them their birth certificates. Even for days! And let’s keep in mind—if you are a citizen who is mistakenly detained, and you are being denied due process, and you can’t reach someone to show your birth certificate, how are you supposed to get released? What if you are put on the next plane to El Salvador before you get the chance to set the record straight? And let’s not pretend that’s far-fetched.

    “Not when citizens havealready been mistakenly detained. Not when the government hasalready admitted it sent some people to El Salvador by mistake. Now when Trump has already disappeared some people who were here legally, and many people who had no criminal record—with no due process. And not when Trump hasalreadysaid he wants to send U.S. citizens to El Salvador prisons. He was caught on mic telling the President of El Salvador he needs to build more jails, telling him the ‘homegrowns’ are next. What happens when you get sent there, and you can’t contact a lawyer? These are serious questions—what happens? Because if there is nothing we can do for the people there now, what precedent does that set for the people that are sent there next?

    “M. President—I’ve been speaking for a while now and I’ve posed a lot of questions, and I hope my colleagues think about this carefully. So, I am going to wrap it up, but I will end now with just one more.

    “Where will Republicans draw the line? Because we are well past the bounds of law—and we are well past the bounds of basic humanity. So, I hope more of my colleagues will join me in saying enough is enough. And in demanding transparency, accountability, and justice from the Trump Administration. That starts with some very basic things.

    “First—accurate, up-to-date information on the names of people who are being detained in, and deported from, ICE facilities across the country—including by the way, the Northwest ICE Detention Center in Tacoma, so that their loved ones and community members can at least know where they are!

    “And we need a clear list of every person who was disappeared to El Salvador, along with what evidence—if any—the government has. As well as the full terms of whatever agreement the Trump administration has negotiated with El Salvador’s dictator.

    “But it doesn’t stop there. We need to see clear, good faith efforts to abide by court orders, and to bring back everyone wrongfully, unjustly sent to a foreign prison. We need to have lines of communication so these people can talk to their lawyers, or talk to their loved ones, and let us know if they are okay.

    “And we need due process—with evidence, with judges, and a meaningful opportunity for people to present a defense. Let’s be clear we are not saying everyone is innocent. We are saying no more than what the constitution says, no more than what the courts have said time and again: Everyone, in the United States of America, gets due process.

    “Thank you.”

    MIL OSI USA News –

    May 1, 2025
  • MIL-OSI: Freehold Royalties Announces Refinement of Business Structure with Termination of the Management Agreement

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, April 30, 2025 (GLOBE NEWSWIRE) — Freehold Royalties Ltd. (Freehold or the Company) (TSX:FRU) and Rife Resources Management Ltd. (Rife) have mutually agreed to terminate the management agreement and associated services that Rife has historically provided Freehold.

    Effective May 1, 2025, Freehold will have a fully dedicated executive team and employee base and will no longer use the shared or advisory services of Rife to conduct its business. Freehold will not pay any termination fees or future management fees to Rife and the Company does not anticipate any meaningful differences in its go-forward cost structure.

    The Freehold executive team will be the seasoned and familiar team that has built the Company into the high margin North American royalty business that we are today. David Spyker will continue as President and CEO, David Hendry as CFO and VP Finance until his successor is named, Rob King as COO along with VP’s Susan Nagy and Colin Strem leading our asset optimization and acquisition initiatives and Lisa Farstad leading corporate services. They will be supported by 46 full time employees with technical, financial and asset management expertise. The leadership and employee continuity will ensure a seamless and stable transition to the revised governance and operating model, while focusing 100% of their talents into continuing to build the North American royalty platform.

    “With the strategic positioning and business growth of Freehold over the past five years, our Board of Directors felt it was the right time to evolve from the management arrangement that has been in place since 1996”, said Marvin Romanow, Chairman of Freehold. “Having a dedicated team solely focused on Freehold’s assets and strategies will streamline our operations and simplify our governance as we drive sustained value creation for our shareholders and continue to position Freehold as a leading North American royalty company.”

    “CN Investment Division (CNID), through Rife, has been a skilled provider of the leadership and resources required to manage the Freehold business since its’ IPO in 1996 and has always been the Company’s largest shareholder. As Freehold has grown considerably in recent years, including its’ successful entry into the premier resource basins in the United States, now is the ideal time to revise its’ governance and facilitate a new business structure. CNID fully supports this transition and is excited about the next chapter in Freehold’s story. CNID remains committed to the energy and royalties’ sector and continues to be a strong supporter of Freehold through its long-standing ownership and representation on the Board of Directors” said Mathieu Roy, Managing Director Real Assets at CNID, investment advisor of the CN Pension Trust Funds, and a Freehold board member. CNID will continue to have a nomination right for one director under a new governance agreement which is expected to be in place by year-end 2025.

    The termination date for the management agreement will be December 31, 2025. With the dedicated leadership and employee team in place from May 1, 2025, the Company will work on an orderly and efficient transition of systems, software, workflows, files and office space. Freehold’s sharpened focus, dedicated leadership and energized team mark a new era of possibilities as we continue our journey of business excellence.

    For further information contact

    Freehold Royalties Ltd.

    Forward-Looking Statements

    This news release offers our assessment of Freehold’s future plans and operations as at April 30, 2025 and contains forward-looking information including, without limitation, with regards to: the expectation that the Company will not pay any termination fees or future management fees; the expectation that the Company will not have any meaningful differences in its go forward cost structure; the anticipated leadership team of Freehold; the effective date of termination of the management agreement; certain terms associated with termination of the management agreement; the expected benefits of the termination of the management agreement; the expectation that there will be seamless and stable integration of the new governance structure; the intent to continue to build the North American royalty platform; the expectation that a new governance agreement will be agreed to prior to year-end December 31, 2025 that will continue to give CNID a nomination right for one director.

    This forward-looking information is provided to allow readers to better understand our business and prospects and may not be suitable for other purposes. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond our control, including the demand for oil and natural gas, general economic conditions, the impacts of tariffs and other retaliatory trade actions taken by the United States, Canada and other countries; industry conditions, the impact of the Russia-Ukraine war and the Israel-Hamas-Hezbollah conflict on the global economy and commodity prices, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, royalties, environmental risks, taxation, regulation, changes in tax or other legislation, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility, our ability to access sufficient capital from internal and external sources. Certain terms relating to the termination of the management agreement and the transition to independent management of Freehold are yet to be negotiated and determined by Freehold and Rife and, as such, there is a risk that the transition may not occur in the manner or on the terms as contemplated herein. Risks are described in more detail in Freehold’s annual information form for the year ended December 31, 2024 which is available under Freehold’s profile on SEDAR+ at www.sedarplus.ca.

    The forward-looking information contained in this press release is based on certain assumptions including that Freehold and Rife will successfully negotiate and determine all transitional matters required for Freehold to successfully operate under independent management and certain other assumptions identified herein. You 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 information. We can give no assurance that any of the events anticipated will transpire or occur, or if any of them do, what benefits we will derive from them. The forward-looking information contained herein is expressly qualified by this cautionary statement. Our policy for updating forward-looking statements is to update our key operating assumptions quarterly and, except as required by law, we do not undertake to update any other forward-looking statements.

    The MIL Network –

    May 1, 2025
  • MIL-OSI NGOs: 100 days in, let’s continue to resist and protect.

    Source: Greenpeace Statement –

    Usually marking 100 days of a new administration means taking stock and evaluating how it’ll set the tone for the next couple years of the president’s tenure. 

    But this time is different. 

    Donald Trump’s first 100 days of his second round in office has launched the beginning of a “new” MAGA regime with terrifying assaults on our families, our freedoms, and our future. I say “new” in quotation marks as it draws upon historical movements to roll back progress. 

    From attempts to claw back Congress-mandated funds for clean energy projects to the EPA boasting the “biggest deregulation action in U.S. history” with plans to roll back 31 environmental safeguards. 

    Translation: it’s their meager attempt to prop up the diminishing coal industry and give kickbacks to their cronies in oil and gas, removing rules meant for cleaner air, safer water and healthier families. 

    Of course this is just in the environmental space, not to mention the abducting of immigrants and attacks on international students, revoking of free speech rights, rolling back hard-won progress on racial equity, or playing billionaire’s games with the global economy.  

    I want to thank the media for covering the array of assaults on our communities. I want to honor the people power pushing back.

    We will not comply in advance to growing authoritarianism in the highest offices. Civil society has correctly demanded that our judicial system check their egregious and hostile government takeover. I take inspiration from our coalition of environmental groups blocking their illegal attempts to expand destructive offshore drilling, to ACLU’s standing up for the rights of trans Americans and immigrants, to my alma mater and former employer Harvard banding together with other universities to protect academic freedom and our freedom to learn. 

    This is a chaotic, precarious and uncertain time. But this is our mission:

    Resist and Protect.

    We continue to protect the oceans against potential deep sea mining, plastic pollution, and extractive practices. We continue to protect our climate in honor of our planet and for future generations. We continue to speak up for rights and freedoms that are essential to a vibrant and healthy democracy. 

    In solidarity with others believing in a better tomorrow, we must keep it up – for the love of our neighbors, our families and a greener and just future. 

    We’ve made it through 100 days. Let’s keep it up. 

    MIL OSI NGO –

    May 1, 2025
  • MIL-OSI USA: HARRISBURG – Governor Shapiro to Unveil New Hotline, Website to Protect Pennsylvania Consumers

    Source: US State of Pennsylvania

    May 01, 2025 – Harrisburg, PA

    ADVISORY – HARRISBURG – Governor Shapiro to Unveil New Hotline, Website to Protect Pennsylvania Consumers

    Governor Josh Shapiro, Department of Banking and Securities Secretary Wendy Spicher, and Pennsylvania Insurance Department Commissioner Michael Humphreys will join financial protection leaders to announce new tools and resources to help protect Pennsylvanians from financial, insurance, and consumer scams.

    As the federal government slashes the Consumer Financial Protection Bureau and steps back its responsibility to protect consumers, the Shapiro Administration is taking action to ensure all Pennsylvanians have continued access to resources and services when facing fraud, predatory practices, or unfair treatment.

    WHO:
    Governor Josh Shapiro
    Secretary Wendy Spicher, Department of Banking and Securities
    Commissioner Michael Humphreys, Pennsylvania Insurance Department
    Deputy Insurance Commissioner David Buono, Pennsylvania Insurance Department
    Debby Freedman, Executive Director of Community Legal Services of Philadelphia
    Tom Lynch, President of the Mortgage Bankers Association of Eastern PA
    Jonathan Smith, Consumer Services Specialist, Department of Banking and Securities

    WHEN:
    Thursday, May 1, 2025, at 1:00PM

    WHERE:
    Pennsylvania Insurance Department
    13th Floor of Strawberry Square
    1326 Strawberry Street,
    Harrisburg, PA 17120
    *Press credentials must be presented at security check-in prior to attending the event

    LIVE STREAM:
    pacast.com/live/gov
    governor.pa.gov/live/

    RSVP:
    Press who are interested in attending must RSVP with the names and phone numbers for each member of their team to ra-gvgovpress@pa.gov.

    MIL OSI USA News –

    May 1, 2025
  • MIL-OSI Security: Former Homewood Finance Director Sentenced for Embezzling Nearly $950,000

    Source: Office of United States Attorneys

    BIRMINGHAM, Ala. – The former finance director for the City of Homewood has been sentenced for embezzling nearly $950,000 from Homewood’s coffers, announced United States Attorney Prim F. Escalona.

    U.S. District Court Judge Anna M. Manasco sentenced Robert Winston Burgett, 64, of Hueytown, to 37 months in prison. In October 2024, Burgett pleaded guilty to three counts of wire fraud.

    According to the information and plea agreement, Burgett worked for the City of Homewood as its finance director. Between at least May 2023 and about March 2024, Burgett used that position to embezzle almost $950,000 from City of Homewood bank accounts. 

    Burgett concealed his conduct by first moving the City’s funds into a commercial bank account he controlled before transferring the funds into his personal account. Burgett also altered City bank account statements and made false journal entries in City accounting records. Burgett ultimately used the embezzled funds for personal purposes.

    The FBI and the Homewood Police Department investigated the case with assistance from the Alabama Department of Examiners of Public Accounts. Assistant U.S. Attorney J.B. Ward prosecuted the case.

    MIL Security OSI –

    May 1, 2025
  • MIL-OSI: Business First Bancshares, Inc. Appoints Alejandro M. Sanchez to its Board of Directors

    Source: GlobeNewswire (MIL-OSI)

    BATON ROUGE, La., April 30, 2025 (GLOBE NEWSWIRE) — Business First Bancshares Inc. (Nasdaq: BFST), the holding company for b1BANK, has announced the appointment of Alejandro M. Sanchez to the Business First Bancshares, Inc. Board of Directors and b1BANK Board of Directors, effective March 27, 2025.

    Sanchez is the president and CEO of Salva Financial Group of Florida, a consulting group advising financial institutions on strategic planning, regulatory compliance and crisis management. He also serves as an executive advisor to Nasdaq and holds board positions with Popular, Inc. (Nasdaq: BPOP), the holding company for Popular Bank and Republic Bancorp, Inc. (Nasdaq: RBCAA), the holding company for Republic Bank & Trust, contributing expertise in governance, risk management and audit oversight.

    Sanchez led the Florida Bankers Association as president and CEO from 1998 to 2023, advocating for the state’s banking industry. He was nominated by President George W. Bush as one of three Presidential appointees for the Federal Retirement Thrift Investment Board from 2002 to 2010 and was invited by President Obama to serve an additional two years.

    “Alex’s deep experience guiding financial institutions through complex regulatory environments and strategic transformations aligns closely with our growth strategy and governance objectives,” said Jude Melville, chairman and CEO of b1BANK. “His leadership and seasoned perspective will help us thoughtfully navigate opportunities and challenges, enhancing our capacity to serve our clients and communities effectively.”

    “It is an honor to join the Business First Bancshares board,” said Sanchez. “I look forward to contributing to the company’s strategic vision and ongoing success.”

    Sanchez holds a Doctorate from the University of Iowa College of Law and a Bachelor of Science from Troy University. He served in the U.S. Air Force from 1976 to 1981.

    About Business First Bancshares Inc.

    As of March 31, 2025, Business First Bancshares, Inc., (Nasdaq: BFST) through its banking subsidiary b1BANK, has $7.8 billion in assets, $7.1 billion in assets under management through b1BANK’s affiliate Smith Shellnut Wilson, LLC (SSW) (excludes $0.9 billion of b1BANK assets managed by SSW) and operates Banking Centers and Loan Production Offices in markets across Louisiana and Texas providing commercial and personal banking products and services. b1BANK is a 2024 Mastercard “Innovation Award” winner and multiyear winner of American Banker Magazine’s “Best Banks to Work For.” Visit b1BANK.com for more information.

    Media Contact: Misty Albrecht
    b1BANK
    225.286.7879
    Misty.Albrecht@b1BANK.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1b9e3cc0-4786-4497-9e7c-ce188ece6be6

    The MIL Network –

    May 1, 2025
  • MIL-OSI Economics: China VC funding value down by more than 50% YoY in Q1 2025, finds GlobalData

    Source: GlobalData

    China VC funding value down by more than 50% YoY in Q1 2025, finds GlobalData

    Posted in Business Fundamentals

    The venture capital (VC) funding landscape in China has experienced a notable contraction in the first quarter (Q1) of 2025 wherein deal volume and value have both seen significant declines compared to the same period in previous year. China recorded a year-on-year (YoY) decrease of around 18% in VC deal volume in Q1 2025. The value of VC funding has YoY plummeted even more drastically at more than 50%, according to GlobalData, a leading data and analytics company.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The contraction highlights the challenges startups are facing in securing funding for growth and innovation. The downturn could be attributed to several factors, including increased regulatory scrutiny, slowdown in economy, and geopolitical tensions that have made investors more cautious. Although the recent downturn raises concerns related to investor sentiments, the country still holds a significant share of global VC activity.”

    An analysis of GlobalData’s Deals Database revealed that despite the decline, China’s share of global deal volume remains substantial, accounting for more than 15% of the total number of VC deals announced globally during the quarter.

    But on the other hand, this sharp drop in funding value has resulted in China’s share of global deal value fall from 21.8% in Q1 2024 to 9.3% in Q1 2025. In contrast, the US has seen a remarkable increase in VC funding value, further widening the gap between these two economic powerhouses.

    Bose concludes: “While the country remains a vital hub for venture capital, the current environment reflects a recalibration of investor sentiment. The decline in both deal volume and value indicates that investors are becoming more selective, focusing on sectors or start-ups with clear growth potential and sustainable business models.”

    Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain.

    MIL OSI Economics –

    May 1, 2025
  • MIL-OSI Economics: Saudi Arabia card payments to surpass $160 billion in 2025 amid digital shift and policy push, forecasts GlobalData

    Source: GlobalData

    Saudi Arabia card payments to surpass $160 billion in 2025 amid digital shift and policy push, forecasts GlobalData

    Posted in Banking

    Saudi Arabia’s card payments market is projected to reach SAR615.5 billion ($164.1 billion) in 2025, driven by a growing shift toward digital transactions and declining cash usage. Strong government support, improved payment infrastructure, and increasing consumer preference for contactless and electronic payments are accelerating this transition, reinforcing the Kingdom’s broader goals of financial inclusion and reduced reliance on cash, according to GlobalData, a leading data and analytics company.

    GlobalData’s report, “Saudi Arabia Cards and Payments: Opportunities and Risks to 2028,” reveals that the card payment value in the Saudi Arabia registered a growth of 10.1% in 2024 to reach SAR571.2 billion ($152.3 billion), driven by the rise in consumer spending.

    However, the current global uncertainty because of latest US tariffs can pose a challenge for the Saudi Arabia’s overall economic growth, resulting in slowdown in the overall card payments value, which is expected to grow by 7.8% in 2025.

    Ravi Sharma, Lead Banking and Payments Analyst at GlobalData, comments: “While cash has traditionally been the preferred method of payment in Saudi Arabia, it’s usage is on decline in line with the rising consumer preference for electronic payments. The country has a robust digital payment infrastructure, supported by a developing card market and well-established card acceptance infrastructure. The government is taking steps to enhance the infrastructure by encouraging merchants to adopt at least one electronic payment option apart from cash.”

    Cash remains an integral part of the Saudi consumer payments landscape, particularly for lower-value transactions. However, there has been a consistent increase in electronic payment methods. The government aims to reduce the country’s dependence on cash, drive financial inclusion, promote electronic payments, and encourage payment innovation. The Kingdom’s Vision 2030 plan aims to reduce cash transactions and increase the share of electronic payments.

    As of April 2025, seven banks in Saudi—Al Rajhi Bank, Riyad Bank, Arab National Bank, Banque Saudi Fransi, the Saudi Investment Bank (SAIB), Bank AlJazira, and Bank AlBilad—had obtained SAMA’s license to provide agent banking services.

    The COVID-19 pandemic changed the way Saudi consumers make payments, with an increasing number of consumers preferring contactless payments supported by an improved payment infrastructure.

    According to the country’s central bank, number of contactless card payments using mada cards increased from 3.1 billion in 2021 to 4.6 billion in 2024. In terms of value, SAR311.3 billion ($83.01 billion) worth of contactless card transactions were made in 2024 – up from SAR301.6 billion ($80.43 billion) in 2021.

    Debit cards dominate the overall card payment space, accounting for 79.9% of the overall card payment value in 2024. The government’s financial inclusion initiatives, consumers’ preference for debt-free payments, and prudent consumer spending have resulted in their dominance. Credit and charge cards, on the other hand, are not very popular primarily due to a religious aversion towards debt.

    Sharma concludes: “The Saudi Arabia payment card market is expected to continue grow supported by government initiatives, rising consumer preference for digital payments, and improving banking and payment infrastructure. The card payments value is expected to register a compound annual growth rate (CAGR) of 6.5% between 2025 to 2029 to reach SAR790.5 billion ($210.8 billion) in 2029.”

    MIL OSI Economics –

    May 1, 2025
  • MIL-OSI USA: Rep. Huffman Re-Introduces Bill to Protect Health Care Consumers from Predatory Practices

    Source: United States House of Representatives – Congressman Jared Huffman Representing the 2nd District of California

    April 30, 2025

    Washington, D.C. – Today, U.S. Representative Jared Huffman (CA-02) re-introduced legislation to protect consumers from Health Care Sharing Ministries’ deceptive practices and expand access to accurate information about health coverage options. The Health Care Sharing Transparency Act would help ensure consumers receive clear and truthful information before enrolling in a health share plan. By holding Health Care Sharing Ministries – also known as Health Share plans – accountable for inaccurate or untimely disclosures and by ensuring providers offer clear information regarding care, this bill helps address some of the dangerous health care practices plaguing consumers across the country.

    “Health Care Sharing Ministries prey on people in search of medical coverage, leading them to purchase inadequate medical coverage when they may need it most,” said Rep. Huffman. “Through deceptive marketing tactics and overt appeals to religion, certain providers lure consumers into purchasing plans that can leave patients without the care they need or lead them into deep medical debt. We need to combat these unethical tactics with serious federal action. My legislation would help protect consumers from Health Share plans’ predatory practices and ensure consumers have access to clear, accurate information about their health care options when making important decisions about coverage for themselves and their loved ones. As more and more Americans fall victim to misleading and unregulated Health Care Sharing Ministries, it’s more important than ever that we respond with proper reform.”

    Health Share Caring Ministries are a limited form of health coverage that require members – who must share a common set of religious or ethical beliefs – to submit monthly payments to cover the qualified expenses of other members. Health Share plans do not have to comply with the consumer protections of the Affordable Care Act, provide limited benefits for their members, and do not guarantee payment for medical claims. Recent data shows Health Share plans deem only half of members’ health expenses eligible for reimbursement. They also exclude coverage altogether for services such as abortions, contraception, mental health, substance use disorders, chronic conditions, certain preexisting conditions, and even maternity care. 

    With more for-profit administrators taking advantage of loopholes to market Health Share plans to broader audiences through deceptive practices, roughly 1.7 million Americans have now enrolled in one of these plans and are at serious risk of being denied necessary treatments and services.

    The Health Share Transparency Act would:

    • Empower consumers with the knowledge to distinguish between comprehensive, regulated health insurance products and Health Shares by requiring Health Shares to disclose clear information during the enrollment process. 
    • Provide new data for regulators to assess the threat Health Shares pose to public health – including rates of service denials, enrollment, service area, average out of pocket expenses for Health Share Members, and the contents of complaints received by the Federal Trade Commission (FTC). 
    • Ensure health insurance brokers selling Health Shares inform consumers if they are eligible for better, more comprehensive forms of health coverage – including the ACA, Medicaid, or Medicare – and accurately describe the scope of benefits provided by Health Shares.

    “We know that quality health insurance is essential for cancer patients. But too often, people – including cancer patients – enroll in a health sharing ministry, thinking they are covered, only to find out later that they can’t access the care they need. We applaud Rep. Huffman for introducing this important legislation which will help us learn more about health coverage that frequently leaves patients exposed to both physical and financial harm,” said Dr. Gwen Nichols, Executive Vice President & Chief Medical Officer at The Leukemia & Lymphoma Society.

    “FFRF Action Fund strongly supports the Health Share Transparency Act, and we thank Rep. Jared Huffman for reintroducing this vital legislation and making this bill a priority for the Congressional Freethought Caucus. Access to health care should never be conditioned on someone’s religious belief — yet healthcare sharing ministries routinely exploit religious exemptions to avoid accountability while misleading consumers. This bill is a crucial step toward protecting the public and upholding the separation of state and church,” said Annie Laurie Gaylor, President of FFRF Action Fund.

    “Everyone deserves health care coverage that is comprehensive and transparent about its policies, and unfortunately health care sharing ministries can’t offer either,” said Fish Stark, Executive Director of the American Humanist Association. “Too often, health care sharing ministries’ deceptive practices leave American families in unanticipated medical debt with nowhere to turn for relief–all in the name of religion. This issue demands federal attention. We are proud to throw our full support behind the Health Share Transparency Act, and we applaud Congressman Huffman for his leadership in shepherding forward this critical legislation.”

    The bill is endorsed by AiArthritis, AIDS Institute, American Cancer Society Cancer Action Network, American Lung Association, American Humanist Association, Arthritis Foundation, Asthma and Allergy Foundation of America, CancerCare, Crohn’s & Colitis Foundation, Center for Freethought Equality, Epilepsy Foundation of America, FFRF Action Fund, Hemophilia Federation of America, Immune Deficiency Foundation, Leukemia & Lymphoma Society, National Alliance on Mental Illness (NAMI), National Coalition of Cancer Survivorship, National Health Council, National Patient Advocate Foundation, National Psoriasis Foundation, Secular Coalition for America, and Susan G. Komen Breast Cancer Foundation.

    Cosponsors include Representatives Jamie Raskin, Sean Casten, Eleanor Holmes Norton, Rashida Tlaib, Mark Pocan, Seth Moulton, Steve Cohen, Jan Schakowsky, and Maxwell Frost.

    Full bill text can be found here.

    A summary of the bill is available here.

    ###

    MIL OSI USA News –

    May 1, 2025
  • MIL-OSI Australia: Screen Australia empowers 100+ distinctive Australian narratives

    Source: AMP Limited

    01 05 2025 – Media release

    All The Boys Are Here writer/director Goran Stolevski and It’s All Going Very Well No Problems At All writer/director/producer/star Tilda Cobham-Hervey (Tilda photo credit Matt Loxton).  
    Screen Australia has today announced a significant investment for local scripted projects, reflecting the agency’s commitment to rich Australian narrative content and meaningful creator pathways.
    Across feature film, television and online, $7.6 million has been shared across more than 100 projects, contributing a substantial amount to the overall direct production and development funding provided in the 24/25 financial year so far. The mix of projects showcases a wide range of themes and formats, speaking to the evolving scripted landscape and highlighting the importance of reaching Australian audiences where they are watching.
    Among the projects is the debut feature film from writer/director/producer/star Tilda Cobham-Hervey set in an aged care home, It’s All Going Very Well No Problems At All; animated children’s series Jidoo & Ibis, about the relationship between a grumpy Grandpa and Australia’s beloved bin chicken; comedy series for TikTok CEEBS about two friends on a mission to save their local youth centre from imminent closure; and a series inspired by a true story, DIVA, about 21-year-old Elly who balances his strict, religious Samoan life with ambitions of becoming a professional wrestler in drag.
    Screen Australia Director of Narrative Content Louise Gough said, “Screen Australia is uniquely positioned to support a thriving pipeline of Australian stories that connect with audiences across multiple platforms and genres. This funding reflects our commitment to both emerging and established creatives, reinforcing the strength and diversity of our industry.”
    “Demand on Screen Australia funding remains high, and our recent survey was a reminder of the value that the sector places on our direct funding. In an ever-changing landscape, one thing remains constant – Australian screen storytelling is a vital cultural force that continues to resonate with audiences here at home and across the world. We’re proud to back this extensive collection of distinct and ambitious projects,” said Gough.
    Screen Australia has also supported 11 major television series for production to be announced in coming months, sharing in $12 million of direct funding and with a total production value of over $117 million. The agency has recently supported Stan Original Series’ He Had it Coming and comedy-horror Gnomes. Also recently announced is Bus Stop Films’ first feature film Boss Cat, beginning production in June and starring Olivia Hargroder, Penny Downie and Julia Savage.
    The supported projects include:

    It’s All Going Very Well No Problems At All: This drama is the debut feature film from writer/director Tilda Cobham-Hervey (A Field Guide to Being a 12 Year Old Girl, I am Woman) and is produced by Liam Heyen (Jimpa, Latecomers), Dev Patel (Lion, Monkey Man), Jomon Thomas (Hotel Mumbai, Monkey Man) and Cobham-Hervey, with Natalya Pavchinskaya and Cyna Strachan executive producing. The film follows Audrey (Cobham-Hervey), a young artist teetering on the edge of a quiet collapse, who finds solace and understanding through a profound connection with Harold, an elderly resident at the care home where she works. Major production investment from Screen Australia and S’ya Concept in association with the South Australian Film Corporation, with support from the Adelaide Film Festival Investment Fund. Local distribution by Kismet. The film is a Mad Ones and Minor Realm production.
    Jidoo & Ibis: Inspired by the real-life shenanigans between the creator’s father and the hungry bin chickens who flock to his garden, Jidoo & Ibis is from writer/producer Wendy Hanna (Beep & Mort) with writers Michael Drake (Beep & Mort) and Clare Madsen (Little J & Big Cuz). It is a 40-part animated series in development for young pre-schoolers about unexpected problems and unexpected friendships – told through the relationship between grumpy Grandpa Jidoo and an all too familiar larrikin, Ibis.
    CEEBS: This 18-part comedy for TikTok is from director Harry Lloyd (Rock Island Mysteries) and writers Betiel Beyin and Leigh Lule, some of the team behind Turn up the Volume. Nikki Tran (Girl, Interpreted) and Amie Batalibasi (Blackbird) are producing. CEEBS follows recent high-school graduates, Zion and Ruby, as they run for ‘Youth President’ to save their local youth centre from imminent closure – all while trying to ensure their lifelong friendship doesn’t get caught in the crossfire. It has received principal production funding from Screen Australia in association with VicScreen.
    DIVA: Inspired by a true story, DIVA is created by producer Jessica Magro (Bad Ancestors) and executive producer Jason Dewhurst, working alongside producer Lauren Brown (Thou Shalt Not Steal) and writer Nick Coyle (Bump, It’s Fine, I’m Fine). It is also executive produced by Charlie Aspinwall and Daley Pearson. This eight-part series in development from Ludo Studio and Purple Carrot Entertainment follows 21-year-old Elly as he attempts to balance his strict, religious Samoan life and his secret queer identity as a professional wrestler in drag.
    Dreamboat: A feature comedy in development celebrating the enduring power of BFFs, second chances, and embracing life’s next chapter, from writer Joan Sauers (Ladies in Black, Wakefield), producers Courtney Botfield and Kate Riedl, script editor Megan Simpson Huberman and script consultant Zoë Coombs Marr. In Dreamboat, Suzy’s plans for a cruisy retirement are capsized when best friend, Val, takes her on a cruise to Antarctica.
    All The Boys Are Here: From Causeway Films (Talk to Me), this queer romance feature film is created by writer/director Goran Stolevski (Of An Age, You Won’t Be Alone) and produced by Kristina Ceyton and Samantha Jennings of Talk to Me. It is about a New York novelist who, while attending a family funeral in Vienna, discovers a German relative’s illicit queer love affair with a Jewish man during WW2 – sending him on a journey through the past that changes his future. It has received major production investment from Screen Australia in association with the Polish Film Institute, with Maslow Entertainment distributing and New Europe Film Sales and Charades managing international sales.
    A Model Family: A 10-part comedy in development for the whole family from some of the team behind The Disposables, including creator/writers Keir Wilkins and Sonia Whiteman, creator/writer/producer Renny Wijeyamohan, creator/producer/executive producer Karen Radzyner, producer Linda Micsko (The Office Australia) and executive producer Oliver Lawrance, with Guy Edmonds (Spooky Files) and Emmanuelle Mattana (Fwends) attached as writers. In A Model Family, five ultra-lifelike AIs have escaped from a secret research facility in the Australian countryside and must pass for a human ‘nuclear’ family to survive.
    Fear is the Rider: This horror-thriller is from the team behind The Forgiven, including writer/director/producer John Michael McDonagh, producers Elizabeth Eves, Kate Glover, Nick Gordon and Trevor Matthews, and executive producer Natalie Coleman. In Fear is the Rider, a lone woman searching for her missing mother is pursued into the Australian Outback by a terrifying family of cannibalistic serial killers, with only an ex-con and a young girl willing to help her. Major production investment from Screen Australia and financed with support from Screen NSW’s Made in NSW Fund. Local distribution by Umbrella Entertainment, with international sales by Film Constellation and CAA.
    After All: From writer/director/producer Jess Murray (Moments of Clarity) and writers Tom Ward and Declan O’Byrne-Inglis, After All is a six-part comedic adult YouTube animation set against a post-apocalyptic wasteland. After living in a bunker for most of their lives, mutant filmmakers Flynn and Marshall venture out to make “the best movie ever made”, but quickly realise that stardom is not as important as friendship. It has received principal production funding from Screen Australia and financed with assistance from Screen Tasmania.
    Bluebottle: A thriller-comedy feature film from director Jim Weir and writer/director Jack Clark of Birdeater, producers Gal Greenspan (Moja Vesna), Rachel Forbes (Strange Creatures) and Ryan Bartecki (The Novice), and executive producers Joel Edgerton (Boy Swallows Universe), Ari Harrison (Lesbian Space Princess, The Moogai) and Jane Badler. During the final night of ‘Schoolies’ in an isolated coastal town, three local dropouts battle three handsome older men for the affection of three private school girls – tackling social issues of class, consent and identity. Major production investment from Screen Australia, with Co Created Media co-financing and Umbrella Entertainment distributing locally.

    CEEBS
    For the list of announced projects funded across the Narrative Content Department this financial year, visit:

    For more information about Screen Australia funding and to apply, click here.
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    Media enquiries
    Maddie Walsh | Publicist
    + 61 2 8113 5915  | [email protected]
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    + 61 428 767 836  | [email protected]
    All other general/non-media enquiries
    Sydney + 61 2 8113 5800  |  Melbourne + 61 3 8682 1900 | [email protected]

    MIL OSI News –

    May 1, 2025
  • MIL-OSI USA: At Hearing, Senator Murray Slams Trump Administration for Threatening Biomedical Research and Jeopardizing Americans’ Health

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    ***WATCH AND READ: Senator Murray’s opening remarks***

    ***WATCH: Senator Murray’s questioning***

    ***WATCH AND READ: Emily Stenson’s testimony***

    Washington, D.C. – Today—at a Senate Appropriations Committee hearing on biomedical research—U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, underscored why the investments we make in biomedical research are so vital, what’s at stake for patients and families as Trump takes a wrecking ball to this research, and why Congress must forcefully push back.

    In just 100 days, President Trump and his administration have taken unprecedented actions across the Department of Health and Human Services (HHS) that are having devastating impacts on biomedical research, innovation, and ultimately, the lives of millions of patients and families. The Trump administration’s actions are delaying funding and stalling research for lifesaving treatments and cures, weakening our biomedical workforce, cancelling vital ongoing studies and trials, and threatening to undo decades of hard-won progress.

    At the hearing, Senator Murray shared the story of Emily Stenson, a mom and patient advocate from Washington state whose daughter Charlie was diagnosed with stage 4 cancer at just three years old but who, thanks to a National Cancer Institute clinical trial at Seattle Children’s Hospital, has been cancer free since December 2024. You can WATCH and READ Emily’s testimony here.

    Senator Murray emphasized that these lifesaving cancer trials are now on the chopping block as the Trump administration terminates $137 million in cancer research grants and plans to cut the NIH budget in half, and asked Emily, “If half of the cancer clinical trials were suddenly cancelled—what would that mean for patients like Charlie and the people you know on the cancer ward at Seattle Children’s?”

    Emily replied, “It would be devastating. There’s no other option often than a clinical trial. And how can you look at these families and say, we’re taking away the only option to save your child. There’s no funding. It feels like the government doesn’t care about families like ours if they take that away. It will be futures left in the balance.”

    Senator Murray also asked Dr. Sudip Parikh, CEO of the American Association for the Advancement of Science (AAAS), and Dr. Barry Sleckman, Director of the University of Alabama Comprehensive Cancer Center, about the impact Trump’s attacks on the National Institutes of Health (NIH) and Food and Drug Administration (FDA) will have on the future of biomedical research and Americans’ health.

    Senator Murray noted that over the last three months, NIH has awarded billions less in funding than over the same period in previous years, which is unprecedented for an agency that typically awards 60,000 grants a year. All the while, Trump has fired or pushed out nearly 5,000 NIH employees, including grant administrators whose job it is to award this funding. Senator Murray asked Dr. Parikh, “At this rate, do you think NIH will be able to spend the $47 billion Congress passed and President Trump signed into law?”

    Dr. Parikh responded, “Thank you for that. If the will is there they can because I know the program folks that are still there, and they will work harder than anybody to work with the scientists in the field, to do the peer review, to get those dollars out. Because those dollars are not just about getting money out the door, it’s about funding the ideas that have been proposed, and there are plenty of proposals, there are plenty of good ideas. We don’t fund enough; the pay lines are already at 20 and 10 percent. We need to make sure that we do get those out, because otherwise it will be impoundment by default.”

    “Well, we know that they have canceled peer review panels and they’re firing staff. So, can they get that funding out the door effectively?” Senator Murray followed up.

    “Only if it becomes a priority. Only if it becomes a priority. We have to make sure that it can go out. I am confident that it can, if they make it a priority. I have not seen that yet,” Dr. Parikh replied.

    Senator Murray pressed, “Who’s the ‘they’?”

    “The ‘they’ is the NIH. The NIH administrators, leaders, and the Department of Health and Human Services. We have to be able to say that we are going to start awarding these grants at the rate that it requires to get the fully appropriated amount that you all approved at the end of last fiscal year,” Dr. Parikh responded.

    “To your knowledge, has that been done?” inquired Senator Murray.

    Dr. Parikh stated, “Not yet, the rate isn’t quite there yet.”

    Senator Murray also discussed the Trump administration’s announcement that they would stop funding the Women’s Health Initiative (WHI), which they later claimed they would reverse. WHI studies cancer, heart disease, and osteoporosis in postmenopausal women—and thanks to this research, 126,000 cases of breast cancer and 76,000 cases of heart disease were prevented over a decade. The Fred Hutch Cancer Center in Seattle is the clinical coordinating center for WHI and one of four regional centers. Senator Murray noted that: “The annual funding for these centers costs about $10 million, that’s less than half by the way of what taxpayers spend on President Trump’s golf trips just in case you were keeping track over the last 3 months—$10 million!”

    “How important, I wanted to ask you, is sex in the diagnosis and treatment of cancer, and do you think now is the time to be cutting breast cancer research?” Senator Murray continued by asking Dr. Sleckman.

    Dr. Sleckman replied, “Thank you for that question, Senator. You know, let me make a comment first about the Women’s Health Study. These types of studies are essential for cancer and understanding the basis of cancer. This is a very long-term study, not a five-year grant. Something where they’ve been following women for decades and using that information to understand about cancer risk and then make informed decisions about cancer prevention. These types of studies could only be funded in a large, organized way through the federal government, the NIH and the NCI. Getting back to your question, is that it’s extremely important to study the biological difference between men and women when it comes to cancer risk, cancer progression, and cancer treatment—extremely important. There are large groups at pretty much all NCI cancer centers that either take that into account when they’re designing a trial or are studying it specifically—absolutely important. Thank you for that question.” 

    ____________________________

    As the largest public funder of biomedical research in the world, NIH has long been considered one of America’s crown jewels with a long history of strong bipartisan support from Congress. Less than 1 percent of the federal budget goes to medical research, yet NIH research drives our economy at the national and local levels by supporting thousands of jobs in every state. More than 83 percent of NIH’s budget goes to more than 300,000 research personnel at over 3,000 universities, medical schools, and other research institutions. NIH directly and indirectly supports more than 550,000 jobs across the country. It pays off: local communities see $2.56 of economic activity for every dollar invested in this research. NIH-funded research contributed to 354 out of 356 drugs approved by the Food and Drug Administration (FDA) between 2010 to 2019. The FDA plays an intricate role in advancing the biomedical research ecosystem in the United States, by regulating, promoting, and supporting the approval of new drugs, biologics, and medical devices coming on the market.

    Despite this, President Trump has systematically undermined NIH and the research it funds, as well as the FDA. He has terminated nearly 800 NIH grants across the country, cutting off more than $1.1 billion in essential research and trials. So far this year, he has slow walked roughly $2 billion in vital NIH funding that should be going out the door to fund the research that might discover the next treatment or cure that will change—or save—a patient’s life. Funding for Alzheimer’s disease, diabetes, and cancer research are just a few examples of large multi-million-dollar research grants that we know are being held hostage. He has illegally sought to cut billions in funding for universities to conduct this vital research by illegally capping the indirect cost rate in direct violation of bipartisan appropriations law. President Trump has pushed out nearly 5,000 NIH employees and 4,000 FDA employees—decimating the very work responsible for discovering lifechanging treatments and cures and ensuring they can safely get to market. He also reportedly plans to propose to nearly halve NIH’s budget.

    As a longtime appropriator and former Chair of the Senate HELP Committee, Murray has led Congressional efforts to boost biomedical research. Previously, over her years as Chair of the Labor-HHS Appropriations Subcommittee, Senator Murray secured billions of dollars in increases for biomedical research at NIH, and during her time as Chair of the HELP Committee she established the new ARPA-H research agency as part of her PREVENT Pandemics Act to advance some of the most cutting-edge research in the field. Senator Murray was also the lead Democratic negotiator of the bipartisan 21st Century Cures Act, which delivered a major federal investment to boost NIH research, among many other investments. 

    MIL OSI USA News –

    May 1, 2025
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