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Category: Economy

  • MIL-OSI USA: Senator Marshall: President Trump’s First 100 Days Have Been Some of the Most Consequential in American History

    US Senate News:

    Source: United States Senator for Kansas Roger Marshall
    Washington – U.S. Senator Roger Marshall, M.D. (R-Kansas) delivered a speech on the Senate floor today recapping President Donald Trump’s historic first 100 days of his second administration.
    [embedded content]
    Click HERE or on the image above to watch Senator Marshall’s full speech.
    Highlights from Senator Marshall’s speech include:
    On the return to American greatness:
    “This week, we honor and celebrate the 100th day of our 47th president, Donald J. Trump… As I searched over the last week to think about the words to describe these first 100 days, I think of the word consequential, that these first 100 days have been some of the most consequential we’ve ever seen in American history.
    “… it’s exciting for me to see an 11-point surge in optimism in this country [since] January of this year alone. But to sum it up, what I’ve seen in these first 100 days is a return to American greatness… And I think I see this theme of promises made and promises kept by this president.”
    On President Trump securing the border:
    “President Trump campaigned to secure our border. That was his top priority: to secure our border. And think about what’s happened since he was sworn in. Under Joe Biden, we saw on days 10,000 people crossing our border illegally. Some days, it was 11,000, but under President Trump, we’re now averaging less than 300 of those border crossings a day. We went from 10,000 a day to 300 in a day. That’s a promise made and a promise kept. 
    “President Trump also campaigned that he would make your family safer and more secure. And to that end, he’s deported 130,000 violent criminal aliens. And as I travel the state [of Kansas] and talk to law enforcement officers… they tell me that the number of violent crimes is down, the fentanyl poisoning is down. Indeed, the president’s plan of securing our border has led to the health and safety of our families.”
    On President Trump rolling back regulations, lowering gas prices:
    “President Trump promised that he’d roll back regulations. To that end, of his [over] 135 executive orders, many have done just that, cutting red tape and saving American families some $2,000 each. Another promise made and another promise kept.
    “President Trump said we’re going to ‘drill, baby, drill,’ one of my favorite expressions from his campaign, ‘drill, baby drill.’ And indeed, America, once again, is drilling, and we’ve seen gasoline prices drop across America. It was common just a couple years ago under Joe Biden to see gasoline at over $4 a gallon today. All across the state of Kansas, it’s averaging under $2.60 a gallon. So it’s dropped from $4 to $2.60 a gallon. That’s a promise made, and a promise kept.” 
    On President Trump being the American first president:
    “Well, what about groceries, you asked? Last month we saw the smallest increase in the consumer price index since the spring of 2020. Since COVID, since the start of COVID. This is the smallest increase in grocery prices that we’ve seen. 
    “Now, it would take 30 minutes, maybe an hour, for me to talk about all the things that President Trump has accomplished in these first 100 days, but I want to just highlight a few more. He’s terminated the EV mandate. He slowed the green energy transition. He’s ended boys in girls’ sports. Under DOGE, he’s cut over $100 billion, saving American taxpayers’ money. He got America out of the World Health Organization, out of the Paris Climate Agreement, establishing, once again, that he’s an American first president.”
    On President Trump bringing back jobs to America:
    “But one thing I’m really excited about is this economic boom that we’re starting to see, that President Trump talks about the $7 trillion of investment into America that has been promised, and so much of that is going to lead to good paying manufacturing jobs, jobs with benefits, and that we’re seeing that already across the state of Kansas.
    “These last two weeks, I was very purposeful visiting several of our manufacturing companies, probably a dozen of them… each one was describing the increase in sales that they’re having, a big increase in the number of products that are wanted in the future. Why? Because they’re American-made, because they’re using American steel and American aluminum. And I think that that’s what we can do with this Trump economy, is that his tariffs are bringing those manufacturing jobs back to this country, and indeed, they’re great jobs.”
    On the Dow Jones Industrial Average:
    “You know, much has been made about the stock market the last week or two. But I think that this, this chart of the Dow Jones Industrial Average over the past 100 years, is another sign of American greatness. 
    “You know, there’s been days which aren’t as good, but the trend here is what? It’s upward. And you look at just the last several days, the last week here, there’s a small little blip here, a very small blip, but in relationship to what? I would remind Americans that the Dow today is up 5% compared to a year ago, the NASDAQ is up almost 10% compared to a year ago. The trend is the right way. And I don’t know about you, but I’m betting on America. 
    “We’ve had five days in a row now the Dow Jones increasing in value – that’s the longest winning streak we’ve seen in almost a year. And who knows, maybe today will be the sixth day where we’ve seen the Dow go up as well. But to me, this stock market, is another example of American greatness, and I wouldn’t bet against us.”
    On the American Dream being alive and well:
    “My belief is that President Trump has declared the apology tour is over with – that we’re boldly putting America and Americans first. Gone is the despair of the Biden era. Today, families are safer, life is more affordable, and traditional family values are now thriving.
    “Young Americans now have a renewed hope that they can chase their own American dream. That dream was gone the last four or five years, but today, the American dream is alive and well. What’s that American dream look like? Raising a family, owning a home, and building a brighter future. And I think a lot of this is due to President Trump’s leadership, because he’s delivering strength, prosperity, and opportunity to Americans. Again, 100 days, promises made, promises kept.”

    MIL OSI USA News –

  • MIL-OSI: 2025 China · Wuyi Auto Rally Successfully Concludes

    Source: GlobeNewswire (MIL-OSI)

    JINHUA, CHINA, April 29, 2025 (GLOBE NEWSWIRE) — On April 27, as the roaring engine sounds of the participating vehicles gradually faded away, the 2025 China·Wuyi Auto Rally, a speed battle that weaves through picturesque landscapes and perilous terrains, successfully concluded. This not only reignited Wuyi’s “rally” engine but also opened a new chapter in the in-depth integration of Wuyi’s “industry, event and tourism”. Li Xianwu, a member of the Standing Committee of the CPC Wuyi County Committee and Director of the Propaganda Department, attended the ceremony.

    At the car-receiving ceremony, the drivers, with excitement and a touch of reluctance, drove their racing cars back to the starting platform amidst applause and cheers, received garlands, and bid farewell to this event.

    Xu Jun and Huang Shaojun from Tonglian Rally Team won the 4-wheel-drive group championship. Yang Xidong and Tang Xiaoming from Dean Auto Sports Team won the runner-up, and Pan Dong and Gao Hui from Dongsheng Feichi-GOLF Team won the third-place.

    Chen Liang and Tong Xijun from DA-Motorsport won the 2-wheel-drive group championship. Du Wenbin and Cheng Darong from Hunan Linwu You Team won the runner-up, and Tang Junzhe and Hao Peng from Fangjia Racing Team won the third-place.

    “This is my first return to Wuyi after more than twenty years. The first time I came was because of Xu Lang, and I was his co-driver at that time. Over the past twenty years, Wuyi has changed a lot, but the people of Wuyi are still very enthusiastic. When I come to Wuyi, I feel like I’m back in my hometown. Especially the iconic U-turn on the Houshuling track reminds me of the days when I used to practice driving with Xu Lang.” Huang Shaojun, the co-driver and winner of the 4-wheel-drive group championship, said that Wuyi is a blessed place.

    As the “King of Flying Cars” in the history of China’s rally racing and the true initiator of Wuyi’s racing culture, Xu Lang not only achieved excellent results in international competitions. He made more racing enthusiasts aware of Wuyi, transformed the gravel roads in his hometown into training grounds, and deeply implanted the racing spirit and culture into the land of Wuyi.

    “After a ten-year interval, Wuyi is hosting a rally race again. As a native of Wuyi, winning the championship this time is very commemorative for me. I hope my hometown can continue to host auto rally races in the future, making the rally a new calling card for Wuyi. I want all racing enthusiasts to participate, get to know Wuyi, understand Wuyi, and fall in love with Wuyi.” Xu Jun, a racing driver, couldn’t hide his excitement about Wuyi hosting this event again.

    In addition to legendary racing drivers like Xu Lang, Xu Jun, and Fu Junfei, known as the “Three Champions from One County”, who have amazed the industry, Wuyi’s connection with rally racing is also inseparable from its unique geographical advantages. With a landscape of “eight parts mountains, half part water, and half part farmland” within the county and winding township roads, it provides an ideal racing environment for rally race. During this competition, Wuyi used public roads as the race track and the landscape of mountains and waters as the backdrop, integrating the roar of motorsport with the tranquility of hot springs, writing a legend of speed.

    Moreover, Wuyi has upgraded the rally race from a “periodic event” to a “sustainable economic engine”, focusing on building a closed-loop of “event-driven attraction—industrial foundation—cultural and tourism empowerment”, and steadily creating a county-level model of in-depth integration of “industry, event and tourism”.

    From the intelligent production line of Zhejiang PDW Industrial Co., Ltd., which has a daily output of 3,000 wheels, to Apollo’s globally first electric off-road motorcycle, which seizes the commanding heights of the industry with innovative technology, and then to the layout of Leapmotor in Wuyi’s “New Energy Vehicle Town”…. 260 auto and motorcycle parts enterprises and a hard-core industrial strength with an output value of 4.3 billion yuan have made the auto and motorcycle parts industry one of the three pillar industries in Wuyi.

    “This event not only showcases the characteristics of the integration of culture and tourism in Wuyi County, but also demonstrates the strength of Wuyi County’s auto and motorcycle parts industry. This is not only a new starting point for Wuyi County’s event-based economy, but also a new beginning for ‘strengthening and supplementing the chains’ of Wuyi County’s automotive industry chain. In the follow-up, we will continue to promote the in-depth integration of event-based economy with culture, tourism and industry, empower and support the auto and motorcycle industry chain in Wuyi, and provide cultural and tourism support for the development of new-quality productivity in Wuyi.” A relevant person in charge of the County Bureau of Culture, Radio, Television, Tourism and Sports said.

    Media Contact
    Wuyi County Publicity Department
    Email: heyn@8531.cn
    Tel: +86 15857143688
    Website: http://www.8531.cn

    SOURCE: Wuyi County Publicity Department

    The MIL Network –

  • MIL-OSI: DMG Blockchain Solutions Inc. Announces Purchase of Two Megawatts of AI Data Center Infrastructure

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, April 29, 2025 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB: DMGGF) (FRANKFURT: 6AX) (“DMG” or the “Company”), a vertically integrated blockchain and data center technology company, announces it has signed a purchase and sale agreement (PSA) for two megawatts of Prefabricated Data Center (“PDC”) infrastructure for a confidential consideration with the same undisclosed counterparty (“Counterparty”) with which it has an MOU signed in February 2025 to purchase 10 megawatts of PDC infrastructure.

    This asset purchase payment is in lieu of the previously disclosed US$5M upfront payment with the balance of the to-be-agreed-upon price based on future DMG revenue resulting from artificial intelligence (AI) computing off-take agreements. The Company intends to move the two megawatts of purchased PDC units to either its Christina Lake data center, Malahat Nation lands and/or a temporary storage location in the coming months. DMG intends to acquire the remaining available PDC infrastructure under the original 10-megawatt MOU terms.

    Since the signing of the MOU, DMG has made progress with respect to engaging Canadian government entities and enterprises for off-take agreements. DMG has up to 180 days to demonstrate progress towards reaching off-take agreements to maintain its exclusivity towards closing a definitive agreement to acquire the balance of the available PDC units. DMG will issue an additional news release related to the final structure and terms of the potential transaction, and other material information if and when it becomes available.

    DMG intends to deploy the PDC units at one or more locations, as the PDC infrastructure can be partitioned into smaller units due to its modular nature. While the infrastructure forms the basis for an AI data center, it does not include medium-voltage power distribution, battery storage or backup power generation, the configuration and amount of which have yet to be determined. Additionally, the PDC is not facilitated with computing, networking nor storage systems, all of which will need to be installed to realize revenue from potential AI off-take agreements.

    DMG’s CEO Sheldon Bennett stated, “This purchase gives us the foundational capacity to begin moving forward on our AI infrastructure strategy and is appropriately sized, as we believe it is likely that Canadian Sovereign and Private AI installations are likely to start modest in size compared to the large US hyperscalers. Owning this infrastructure gives a unique time to market advantage, which is critical as Canadian government and enterprise entities scramble to protect themselves against international geopolitical forces beyond their control. We also believe this purchase is the most capital efficient way for which we can begin to build a critical mass of AI infrastructure, helping us to maximize our return to shareholders.”

    DMG Operational Update

    In line with prior guidance, DMG has energized approximately two megawatts of additional hydro mining capacity and has reached 2.0 EH/s hashrate. It expects to energize the remaining two megawatt balance of its 6 megawatt hydro mining deployment plan in the coming week and reach 2.1 EH/s. As the increasing network difficulty has resulted in decreased profitability and the Company has observed heat sensitivity for its Bitmain T21 fleet, DMG may choose to downclock at least a portion of its fleet, which may result in a net fleet hashrate modestly below 2.1 EH/s.

    Systemic Trust Company Update

    DMG announces that Alvin Leung has been appointed as the acting Chief Executive Officer of Systemic Trust Company, a wholly owned subsidiary of DMG, with effect as of April 25, 2025. The Company accepted Lawrence Truong’s resignation as Chief Executive Officer and as a director of System Trust Company.

    About DMG Blockchain Solutions Inc.

    DMG is a publicly traded and vertically integrated blockchain and data center technology company that manages, operates and develops end-to-end digital solutions to monetize the digital asset and artificial intelligence compute ecosystems. Systemic Trust Company, a wholly owned subsidiary of DMG, is an integral component of DMG’s carbon-neutral Bitcoin ecosystem, which enables financial institutions to move bitcoin in a sustainable and regulatory-compliant manner.

    For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com
    Follow @dmgblockchain on X and subscribe to DMG’s YouTube channel.

    For further information, please contact:

    On behalf of the Board of Directors,

    Sheldon Bennett, CEO & Director
    Tel: +1 (778) 300-5406
    Email: investors@dmgblockchain.com
    Web: www.dmgblockchain.com

    For Investor Relations:
    investors@dmgblockchain.com

    For Media Inquiries:
    Chantelle Borrelli
    Head of Communications
    chantelle@dmgblockchain.com

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

    Cautionary Note Regarding Forward-Looking Information

    This news release contains forward-looking information or statements based on current expectations. Forward-looking statements contained in this news release include the execution of a definitive agreement for the PDC and the timing thereof, the expected benefits and outcomes of the PDC including the potential AI computing off-take agreements, adding computing, networking and storage systems to the PDC infrastructure, all of which will need to be installed to realize revenue from potential AI off-take agreements, energize the remaining two megawatt balance of its 6 megawatt hydro mining, increase hashrate subject to any potential downclocking at least a portion of its fleet, the Company’s strategy for growth, the planned monetization of certain product and service offerings, developing and executing on the Company’s products, services and business plans, the launch of products and services, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information.

    Future changes in the Bitcoin network-wide mining difficulty or Bitcoin hashrate may materially affect the future performance of DMG’s production of bitcoin, and future operating results could also be materially affected by the price of bitcoin and an increase in hashrate and mining difficulty.

    Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. 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 the Company, including but not limited to, market and other conditions, volatility in the trading price of the common shares of the Company, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company’s financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoin; security threats, including a loss/theft of DMG’s bitcoin; DMG’s relationships with its customers, distributors and business partners; the inability to add more power to DMG’s facilities; DMG’s ability to successfully define, design and release new products in a timely manner that meet customers’ needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements. The securities of DMG are considered highly speculative due to the nature of DMG’s business. For further information concerning these and other risks and uncertainties, refer to the Company’s filings on www.sedarplus.ca. In addition, DMG’s past financial performance may not be a reliable indicator of future performance.

    Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of viruses and diseases on the Company’s ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoin from DMG or its customers, consumer sentiment towards DMG’s products, services and blockchain technology generally, failure to develop new and innovative products, litigation, adverse weather or climate events, increase in operating costs, increase in equipment and labor costs, equipment failures, decrease in the price of Bitcoin, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of or statements made by third parties in respect of the matters discussed above.

    The MIL Network –

  • MIL-Evening Report: Which Roman emperor was most like Donald Trump?

    Source: The Conversation (Au and NZ) – By Peter Edwell, Associate Professor in Ancient History, Macquarie University

    SvetlanaVV/Shutterstock

    Something tells me US president Donald Trump would love to be a Roman emperor. The mythology of unrestrained power with sycophants doing his bidding would be seductive.

    But in fact, Roman emperors were heavily constrained by institutions, the economy and popular mood. Yes, some challenged and sidelined the institutions of their day – but this often sparked a powerful backlash.

    As someone who’s studied Ancient Rome for years, I’ve recently been asked which Roman emperor was most like Donald Trump. In some ways he’s a pastiche of several Roman leaders.

    Julius Caesar

    Of course, Julius Caesar was never an emperor. He was a military leader and politician when the Roman Republic was in its death throes.

    While Trump has no military experience, some have compared him with Caesar.

    English classicist Mary Beard explains the appeal of this comparison for Trump’s foes and supporters alike.

    The Roman Republic was originally a system of shared political authority. The Senate, the people and elected magistrates shared power.

    But in the first century BC, powerful and charismatic figures became more prominent. The old power-sharing arrangements broke down.

    Caesar was the ultimate populist who overthrew the conventional means of Republican government.
    Bequest of Benjamin Altman, 1913/The Metropolitan Museum of Art

    Caesar was the most significant of these figures. He was the ultimate populist who overthrew the conventional means of Republican government. Due to his military successes, vast fortune and enormous popular appeal, Caesar broke the system entirely.

    Caesar fast-tracked the development of executive power in one person. This doomed the Roman Republic itself.

    Trump has also sidelined key institutions and increased the powers of singular executive government. Threatening judges and the chair of the Federal Reserve are further examples of over-reach.

    Trump draws on popular appeal to escape ramifications for these actions. His TV career, political rallies and domination of the news cycle contribute to a cult of personality.

    Caesar paid the ultimate price for concentrating executive power in himself. He was stabbed to death by a group of angry senators. The republic, however, was beyond saving.

    Caesar and the Roman Republic were different to Trump and America. Caesar was a blue-blood patrician, which Trump isn’t. Rome had its most powerful centuries ahead of it, while America is in decline.

    Octavian: the man who became Augustus

    Caesar didn’t manage the transition from Republic to autocracy. It was his nephew, Octavian, who did that.

    After more than a decade of civil wars following Caesar’s murder in 44 BCE, Octavian became Augustus (27 BCE–14 CE) or emperor.

    While he claimed to restore the republic, Augustus exercised ultimate power over the army, political institutions and the courts. He finished the process Caesar and others began, dominating the Senate and once-powerful positions such as consulships.

    Augustus’ domination of the entire political system draws parallels with Trump. Some observers liken Trump to Augustus. They see similarities in Trump’s intimidation of institutions (including the courts and media) that provide checks on presidential power.

    Augustus also developed a cult of personality, which is a feature of Trump’s rise.

    Nero: from populist to pariah

    Nero (54–68 CE), a colourful successor of Augustus, employed advisors with no political backgrounds. Epaphroditus, for example, was a former slave who became Nero’s secretary. He controlled the flow of information to and from the emperor. He became very wealthy and was intensely loyal to Nero.

    Trump has shown similar instincts. Think of the wide-ranging powers to cut government programs granted to Elon Musk and his inexperienced team.

    Like Trump, Nero could entertain a crowd. He publicly sang and recited poetry, which previous emperors never did. The elites detested this but the broader population loved it. Nero also put on lavish palace banquets.

    But by the time of his death by suicide aged 30, Nero had isolated everyone.

    It’s too simplistic, though, to say Trump is a Nero, as others have done. Trump remains connected to a large support base, as evidenced by his two presidential election victories.

    Like Trump, Nero could entertain a crowd.
    Ivan Moreno sl/Shutterstock

    Roman emperors were constrained by institutions

    While Roman emperors dominated the institutions of state, they were still constrained by them. Some who fell foul of the army, the most important state institution, met ignominious ends.

    In 217 CE, the unpopular emperor Caracalla was knifed by a soldier while relieving himself.

    Emperor Caracalla was eventually stabbed by a soldier while relieving himself.
    Samuel D. Lee Fund, 1940/The Metropolitan Museum of Art

    Emperor Severus Alexander was murdered in 235 CE by his own troops while clutching his mother’s knees.

    Some speculate the US army might intervene to protect the Constitution against Trump. But the army’s relationship to the US government is more complex than in ancient Rome.

    Some emperors became unpopular due to their arrogance toward the Senate, court officials and their own bodyguards.

    In 96 CE, Domitian was killed in a conspiracy of the court chamberlain. His death was cheered by many due to his autocratic style.

    And Emperor Commodus, once popular due to his eccentric antics and public games, was murdered by a champion wrestler in 192 CE. His mistress, Praetorian prefect and court chamberlain arranged it. The Senate declared Commodus a public enemy.

    The creeping power of executive authority

    The over-reach of executive authority will likely define Trump’s second term. But there are many constraints he can’t ignore. Some of the most powerful operate outside America. Bond-holders, of whom China is the second largest, are a notable example.

    The eventual displeasure of support bases may hasten the demise of the Trump phenomenon. I sincerely hope it doesn’t end with the brutality some of the emperors met with.

    Executive over-reach and intimidation of key institutions may permanently damage America’s reputation. In the case of ancient Rome, we know the outcomes. What comes next in America is the great unknown.

    Peter Edwell receives funding from the Australian Research Council.

    – ref. Which Roman emperor was most like Donald Trump? – https://theconversation.com/which-roman-emperor-was-most-like-donald-trump-254573

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Markey, Huffman, Fitzpatrick Reintroduce Bipartisan Legislation to Protect the Arctic Refuge

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    Washington (April 29, 2025) – Senator Edward J. Markey (D-Mass.), a member of the Senate Environment and Public Works Committee, and House Natural Resources Committee Ranking Member Jared Huffman (D-Calif.), Senators Maria Cantwell (D-Wash.), Michael Bennet (D-Colo.) and Representative Brian Fitzpatrick (R-Penn.), today reintroduced the Arctic Refuge Protection Act, legislation that will restore critical protections to the Arctic National Wildlife Refuge—the nation’s largest national wildlife refuge—by designating the Coastal Plain ecosystem as wilderness under the National Wilderness Preservation System. This legislation would permanently halt any new oil and gas leasing, exploration, development, and drilling on the Coastal Plain, and would safeguard the subsistence rights of the Arctic Indigenous Peoples who depend upon the Arctic Refuge.
    “Trump’s reopening of the Arctic National Wildlife Refuge to oil and gas is another attempt to revive his old and failed promise of a fictional financial windfall from leasing the Refuge—all to pay for tax breaks for billionaires. The urgency to protect the wilderness of the Coastal Plain and the Refuge more broadly and reaffirm the sovereignty of Arctic Indigenous peoples is paramount—my Arctic Refuge Protection Act would do just that,” said Senator Markey. “We must put a law on the books to affirm these lands are not for sale and defend the Arctic landscape—a sacred home for Indigenous peoples, including the Gwich’in and Inupait—from Trump’s disastrous business plan.”
    “What we choose to protect says everything about who we are. The Arctic National Wildlife Refuge is too special to destroy, and we have a responsibility to keep it that way,” said Ranking Member Huffman. “The Refuge is one of the last truly wild places left on the planet — home to caribou herds, polar bears, migratory birds, and breathtaking landscapes. But it’s more than that. It’s about standing with the Gwich’in people, who’ve spent generations protecting this land, living with the caribou herds, and preserving a way of life that predates the fossil fuel industry by thousands of years and continues to this day. Now, President Trump wants to turn the Arctic Refuge into a corporate cash grab, a place where oil companies could frack up the tundra while trampling tribal sovereignty and leaving Americans with nothing but spills and broken promises. This land belongs to the American people and to the Gwich’in, not to Big Oil.”
    “Protecting the Arctic Refuge is not only an environmental imperative—it’s a strategic one. This land holds immense ecological value, cultural significance, and climate importance. Reckless development would endanger wildlife, violate Indigenous rights, and yield little economic return. As Co-Chair of the World Wildlife, Oceanic, Environmental and Biodiversity Caucus, I’m proud to support this legislation to protect one of America’s last wild frontiers—because conservation is not a cost, it’s a long-term investment in our security, economy, and planet,” said Representative Fitzpatrick.
    “The Arctic National Wildlife Refuge is a pristine, million-year-old ecosystem unlike anything else we have in the United States, which is why it should be permanently protected,” said Senator Cantwell. “The future of the Arctic is in tourism, and with new sea routes opening up the real value of this land is conservation, not exploitation.”
    “The Arctic National Wildlife Refuge is one of our country’s most unique and beautiful areas of land. We must work with our indigenous communities to protect our wildlife, and the environment put at risk by oil and gas development in this spectacular refuge. Rather than catering to the interests of the oil companies, we must focus our efforts on diversifying our energy sources with renewable energy and prevent further harm to the environment,” said Senator Schiff.
    “We commend our congressional champions for taking a stand to protect one of America’s last great wild places. The Arctic National Wildlife Refuge’s Coastal Plain is not only a sanctuary for wildlife—it is sacred land for the Gwich’in and a symbol of our nation’s commitment to conservation. Selling off this land for oil and gas is not only destructive, it’s bad economics. The last Arctic Refuge lease sale was a failure, proving there is no real demand—only a handout to billion-dollar corporations at the expense of taxpayers. This legislation is a crucial step in permanently protecting this irreplaceable landscape from exploitation. Now, more than ever, Congress must prioritize our public lands and Indigenous rights by restoring protections to the Arctic Refuge and ensuring this land remains unexploited for generations to come,” said Kristen Miller, Executive Director, Alaska Wilderness League.
    “We applaud the leadership of Sen. Markey and Reps. Huffman and Fitzpatrick for reintroducing the Arctic Refuge Protection Act,” said Mary Glaves, Alaska Coordinator for Backcountry Hunters & Anglers. “For hunters and anglers, the 1.5-million-acre coastal plain is the birth place of wild pursuits of caribou, waterfowl, and iconic fish species including Dolly Varden and Arctic Char. The abysmal interest in both the 2020 and 2025 lease sales demonstrates the bad economics of drilling in the Arctic Refuge. The wetlands and rivers weave together one of the last truly wild landscapes that are essential for the North American heritage of hunting and fishing and subsistence for local Alaskan communities. The Arctic Refuge is a national treasure that should be protected as such through a wilderness designation.”
    “The Arctic Refuge is no place for drilling. It is a sanctuary for caribou, musk oxen, polar bears, wolves, and other wildlife. The Arctic Refuge Protection Act is a clear acknowledgment of that fact. Even the biggest players in the oil industry recognized that drilling in the Refuge was an absurd proposition when they failed to show up for recent lease sales,” said Alexandra Adams, Chief Policy Advocacy Officer at NRDC. “This bill would end an ongoing threat to this treasured place by forever barring industrialization of the Refuge.”
    Background
    The Arctic Refuge is one of the last truly wild places left in America. The Coastal Plain is the calving ground of the Porcupine caribou herd, the source of the Indigenous Gwich’in people’s way of life and subsistence for generations. It also provides a critical denning habitat for threatened Southern Beaufort Sea populations of polar bears. Oil and gas exploration, seismic testing, and all of the infrastructure that comes with oil drilling – from roads to pipelines to pumpjacks – would threaten polar bears in their dens, disrupt caribou and bird migration patterns, and result in significant and irreversible harm to the unique Arctic Refuge habitat and the Indigenous communities who depend on it.
    For the Gwich’in people, who refer to the Coastal Plain as “Iizhik Gwats’an Gwandaii Goodlit” or the Sacred Place Where Life Begins, this land is more than wildlife habitat. It is cultural identity, food security, and a foundation for traditions that span millennia into the current day. The caribou herd is central to their traditions and survival, and industrial development in the region threatens not just an ecosystem, but an entire way of life. The Gwich’in, which span across Alaska and Canada, have been united in their opposition to drilling in the Refuge for decades and have called on the federal government to uphold its trust responsibilities and protect these lands permanently.
    Developing the Refuge’s unproven oil and gas reserves would also pose a serious danger to the climate, locking in decades of emissions in a region already warming four times faster than the global average.
    For decades, the Refuge’s coastal plain has been targeted for highly speculative oil and gas drilling. In 2017, the Tax Cuts and Jobs Act established an oil and gas leasing program along with a requirement that the Department of the Interior conduct two lease sales in the coastal plain before the end of 2024. According to the Congressional Budget Office’s estimate at the time, these lease sales would result in $1.82 billion in revenue over 10 years. Seven years later, those projections have proven wildly inaccurate.
    The first lease sale brought in only $14.4 million in bids on 11 tracts, a far cry from the nearly $2 billion in estimated revenue. Major oil companies didn’t participate in the sale, and most major financial institutions have pledged not to finance drilling there. The most recent lease sale in January of this year generated no interest. Despite the lack of interest or activity, the risk of development and drilling in the Arctic Refuge remains.
    On his first day in office, President Trump restarted the Coastal Plain Oil and Gas Leasing Program and reinstated seven leases from the state development corporation, which were previously canceled by the Biden administration. Congressional Republicans may once again use oil and gas leasing to pay for tax cuts for billionaires, despite its catastrophic failure to raise revenue in 2017.
    The Senate bill is cosponsored by Senators Ron Wyden (D-Ore.), Jeff Merkley (D-Ore.), Tammy Baldwin (D-Wisc.), Patty Murray (D-Wash.), Alex Padilla (D-Calif.), Chris Van Hollen (D-Md.), Adam Schiff (D-Calif.), Jeanne Shaheen (D-N.H.), Dick Durbin (D-Ill.), Bernie Sanders (I-Vt.), Richard Blumenthal (D-Conn.), Sheldon Whitehouse (D-R.I.), Tina Smith (D-Minn.), Ben Ray Lujan (D-N.M.), Gary Peters (D-Mich.), and Elizabeth Warren (D-Mass.).
    The House bill is cosponsored by Representatives Suzanne Bonamici (D-Ore.), Sydney Kamlager-Dove (D-Calif.), Sharice Davids (D-Kan.), Mary Gay Scanlon (D-Pa.), Hank Johnson (D-Ga.), Kevin Mullin (D-Calif.), Bill Foster (D-Ill.), Jamie Raskin (D-Md.), Ro Khanna (D-Calif.), Jared Moskowitz (D-Fla.), Pramila Jayapal (D-Wash.), Salud Carbajal (D-Calif.), Joe Neguse (D-Colo.), Val Hoyle (D-Ore.), Brad Schneider (D-Ill.), Linda Sánchez (D-Calif.), Juan Vargas (D-Calif.), Raja Krishnamoorthi (D-Ill.), Madeline Dean (D-Pa.), Jan Schakowsky (D-Ill.), Lucy McBath (D-Ga.), Dwight Evans (D-Pa.), Nydia Velázquez (D-N.Y.), André Carson (D-Ind.), Andrea Salinas (D-Ore.), Jerrold Nadler (D-N.Y.), Sara Jacobs (D-Calif.), Betty McCollum (D-Minn.), Darren Soto (D-Fla.), Jake Auchincloss (D-Mass.), Delia Ramirez (D-Ill.), Maxine Waters (D-Calif.), Johnny Olszewski (D-Md.), Sarah Elfreth (D-Md.), Jill Tokuda (D-Hawaii), Angie Craig (D-Minn.), Ilhan Omar (D-Minn.), Mark Takano (D-Calif.), Danny Davis (D-Ill.), Raul Ruiz (D-Calif.), Lori Trahan (D-Mass.), Doris Matsui (D-Calif.), Kim Schrier (D-Wash.), Gerry Connolly (D-Va.), Maxwell Frost (D-Fla.), Sean Casten (D-Ill.), Yassamin Ansari (D-Ariz.), Maxine Dexter (D-Ore.), Kelly Morrison (D-Minn.), George Latimer (D-N.Y.), Gabe Amo (D-R.I.), Steve Cohen (D-Tenn.), Rob Menendez (D-N.J.), Jesús “Chuy” García (D-Ill.), Bobby Scott (D-Va.), Grace Meng (D-N.Y.), Suzan DelBene (D-Wash.), Sarah McBride (D-Del.), Summer Lee (D-Pa.), Emily Randall (D-Wash.), Dave Min (D-Calif.), Gil Cisneros (D-Calif.), Adam Smith (D-Wash.), Rick Larsen (D-Wash.), Ted Lieu (D-Calif.), Judy Chu (D-Calif.), Chellie Pingree (D-Maine), Ed Case (D-Hawaii), James McGovern (D-Mass.), Brendan Boyle (D-Pa.), Nanette Barragán (D-Calif.), Becca Balint (D-Vt.), Mike Levin (D-Calif.), Gabe Vasquez (D-N.M.), and Bonnie Watson Coleman (D-N.J.).
    The bill was endorsed by National Audubon Society, Gwich’in Steering Committee, Alaska Wilderness League, Trustees for Alaska, The Wilderness Society, League of Conservation Voters, Defenders of Wildlife, National Wildlife Refuge Association, Backcountry Hunters & Anglers, World Wildlife Fund, Earthjustice, Natural Resources Defense Council, and Environment America.

    MIL OSI USA News –

  • MIL-OSI China: China draws foreign investment as ‘oasis of certainty’

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

    BEIJING, April 29 — In an increasingly unpredictable global environment, China is becoming an “oasis of certainty” as it continues to build up industrial strength and foster institutional opening-up, drawing influential foreign investors from tech giants to automakers into the world’s second-largest economy.

    Latest data from the Ministry of Commerce shows that foreign direct investment (FDI) in the Chinese mainland in actual use climbed by 13.2 percent year on year last month. In the first quarter (Q1) of 2025, 12,603 new foreign-invested enterprises were established nationwide, representing a year-on-year growth of 4.3 percent.

    ANCHOR FOR GLOBAL ECONOMIC GROWTH

    At a petrochemical plant rising a hundred meters from the ground, the sounds of welding, cutting and roaring interweave … The over 80 billion yuan (about 11 billion U.S. dollars) cooperation project co-invested by Saudi oil giant Aramco and Chinese enterprises in Panjin, northeastern Liaoning Province, has progressed to more than 60 percent.

    Aramco is currently investing in projects in China that have a collective and total value of over 240 billion yuan, covering petrochemical projects and equity acquisition deals. “China is already the world’s largest consumer and producer of petrochemicals, accounting for nearly half of global demand,” said Amin H. Nasser, president and CEO of the company. He noted, “China is becoming an oasis of certainty in an increasingly unpredictable global environment.”

    Since the start of this year, more and more foreign brands from various sectors have beefed up investment in China, leveraging its super-large market advantage. For example, fast fashion brand Zara opened its Asian flagship store in Nanjing, while U.S. hair care brand Aveda opened its first store in south China in Guangzhou. German retail giant ALDI entered China’s Jiangsu market.

    Besides a vast market size, China’s crucial role in fueling world economic growth has been harnessed by solid economic fundamentals and a stable policy framework, according to foreign institutions.

    China’s gross domestic product registered a 5.4 percent year-on-year growth in Q1. This expectation-beating performance is attributed to the fact that it has increased fiscal spending, vigorously boosted consumption, and introduced a series of measures to stabilize the property market and the stock market, Nathan Chow, senior economist at DBS Bank said.

    The stable growth momentum in China’s economy is stability that serves as an important global public good, helping to buffer uncertainties across international markets, said Bernd Einmeier, president of the German-Chinese Association for Economy, Education, and Culture.

    According to the 2025 Kearney Foreign Direct Investment Confidence Index, which measures investor expectations for FDI over the next three years, China has led all emerging markets for three consecutive years. The market is expected to become a “stabilizer” for business confidence worldwide, with its steady growth, open attitude and innovative vitality, said He Xiaoqing, president of Kearney Greater China.

    INDUSTRIAL STRENGTH, INNOVATION DRIVE

    Industry experts believe China’s industrial strength and innovation drive have become key factors drawing foreign investment. At the same time, its market solidifies its crucial role in the integrated development of global industries, contributing to economic growth.

    During an earlier business trip to China, Apple’s COO, Jeff Williams, visited the company’s supplier, Goertek, in east China’s Shandong Province and praised its automated manufacturing and artificial intelligence technology on the production lines. Among the company’s top 200 suppliers worldwide, more than 80 percent have factories in China engaging in related businesses.

    China’s ability to integrate industrial chains is almost irreplaceable on a global scale, whether in terms of engineer supply, industrial supporting capabilities, or scale advantages, noted Xing Ziqiang, chief economist at Morgan Stanley China.

    This has attracted more and more foreign investment into the global manufacturing powerhouse and innovation hub, with Toyota committing to a 14.6-billion yuan strategic cooperation agreement in Shanghai, and AstraZeneca signing a landmark agreement to invest 2.5 billion U.S. dollars in a global strategic research and development center in Beijing.

    In Rugao City in east China’s Jiangsu Province, welding robots are busy on the production lines of Swedish truckmaker Scania. “The Scania Rugao Industrial Hub, the most advanced and sustainable in Scania’s world, will add significant capacity to Scania’s global production system, easing previous bottlenecks and benefiting both the Chinese and global markets,” said Ruthger de Vries, president of Scania Industrial Operations Asia.

    INSTITUTIONAL OPENING-UP ACCELERATES

    Translating its opening-up pledge into concrete actions, China’s growing economic openness spanning various sectors has further cemented its position as the world’s second-largest FDI destination.

    While all restrictions on foreign investment in the manufacturing sector were removed in China last year, the country has now extended its opening-up efforts to the service sector. China approved value-added telecommunications business operations of 13 foreign-funded enterprises in Q1, according to the Ministry of Industry and Information Technology (MIIT).

    The number of foreign-invested telecommunications enterprises surged 26.5 percent from a year earlier and topped 2,400 in China at the end of last month. Over 40 foreign-funded biotechnology projects have kicked off, and three new wholly foreign-owned hospitals have been approved for operation by late March, according to the country’s commerce ministry.

    The constant opening-up in China’s service sector has brought new development opportunities to foreign-funded enterprises and injected confidence into deepening the Chinese market, said Jacqueline Jiang, chair of the Chinese mainland at John Swire & Sons. Last month, a subsidiary of the group obtained the first foreign-owned cardiovascular specialty hospital practice license in China.

    In the financial sector, an increasing number of foreign financial institutions have cast a vote of confidence in China by establishing new securities entities and expanding the scope of their existing businesses in recent years, with the latest move by UBS increasing its equity stake in UBS Securities from 67 percent to 100 percent.

    Despite deficits in service trade, China seeks to further open sectors like medical and internet services in a well-conceived way. Pilot opening-up programs in free trade zones and select cities have been accelerated, with wholly foreign-owned hospitals now allowed in certain areas. According to the MIIT, China seeks to remove restrictions on the percentage of foreign capital for service businesses such as app stores and internet access in certain regions.

    “In China, foreign companies can invest here because they find a good business environment, and those investments are also long-term and not only short-term,” said Maximilian Butek, executive director and board member of the German Chamber of Commerce in China, the east China region.

    “We have a strong business commitment here in China,” he added.

    MIL OSI China News –

  • MIL-OSI: Orca Energy Group Inc. Announces 2024 Year End Audited Financial Results

    Source: GlobeNewswire (MIL-OSI)

    TORTOLA, British Virgin Islands, April 29, 2025 (GLOBE NEWSWIRE) —  Orca Energy Group Inc. (“Orca” or “the Company” and includes its subsidiaries and affiliates) (TSX-V: ORC.A, ORC.B) today announced its audited financial results for the fourth quarter (“Q4 2024“) and year ended December 31, 2024. All dollar amounts are in United States dollars unless otherwise stated.

    • Revenue increased by 51% for Q4 2024 and by 1% for the year ended December 31, 2024 compared to the same prior year periods. Certain volumes were supplied as Protected Gas (defined below) prior to July 31, 2024. After the termination of Protected Gas after July 31, 2024, those volumes were instead supplied as Additional Gas (defined below). These volumes, which were delivered to Songas Limited (“Songas“) in August, September and October 2024 and for which the Company did not receive compensation, have not been recognized in revenue in 2024. These unrecognized gross revenues include 80.5% of sales to Songas in the amount of $6.2 million.
    • On October 30, 2024, PanAfrican Energy Tanzania Limited (“PAET”), a wholly-owned subsidiary of the Company, was advised by Songas that the Interim Power Purchase Agreement (“PPA”) between Tanzania Electric Supply Company Limited (“TANESCO“) and Songas would expire on October 31, 2024, and that it was unknown if a new PPA would be entered into. At midnight on October 31, 2024 Songas shut down the Songas Power Plant. In the event that a new PPA is not entered into, there is a possibility that the Songas Power Plant will be shut down indefinitely. To date the Songas Power Plant remains shutdown. This has adversely impacted demand for production volumes from the Songo Songo gas field.
    • Gas delivered and sold decreased by 3% for Q4 2024 and by 15% for the year ended December 31, 2024 compared to the same prior year periods. During 2024, Tanzania’s Julius Nyerere Hydropower Project (“JNHPP”) commenced commercial operations, with progressive commissioning of 5 turbines allowing peak output of over 700 MW. Combined with the early onset of the wet season and rainfall well above seasonal averages for the period, hydro power generation and the Songas Power Plant shutdown have been the primary factors in reduced gas liftings for the power sector.
    • On April 14, 2023, PAET formally requested Tanzanian Petroleum Development Corporation (“TPDC“) apply for an extension of the Songo Songo Development License (the “License”). TPDC is contractually required to make this application promptly upon a request by the Company. There are currently no certainties on the timing, nature and extent of any such extensions. Until such extension has been finalized, a high degree of uncertainty exists with respect to the extent of the Company’s operating activities subsequent to October 2026, when the License is set to expire. In November 2024, TPDC submitted the application for the extension of the License to the Ministry of Energy (“MoE“), however, being uneconomical, the Company informed TPDC that it did not agree with the terms as submitted. Having declined to address PAET’s concerns itself, TPDC has refused to rescind and resubmit the application and has advised PAET to raise any issues directly to the MoE. Our Counsel subsequently submitted a letter to the MoE, requesting a meeting to address the issues, to date we haven’t had a response.
    • On April 15, 2024, contrary to the terms of the Gas Agreement and Production Sharing Agreement (the “PSA”) and in violation of Pan African Energy Corporation (Mauritius) (“PAEM”) and PAET’s expectations, the Permanent Secretary of MoE wrote to TPDC, copying PAET and Songas, directing TPDC to “ensure that Protected Gas continues to be produced to the end of the Development Licence on 10th October 2026”. Consistent with that instruction, TPDC took the position that Protected Gas should continue despite the parties’ contractual agreement that Protected Gas ceased after July 31, 2024.
    • PAET, TPDC and Tanzania Portland Cement PLC (“TPCPLC”) subsequently agreed to the terms of the Supplementary Gas Agreement (“SGA”) to sell volumes after July 31, 2024 as Additional Gas, which, prior to August 1, 2024, were supplied as Protected Gas. TPCPLC has fully paid the Company $10.4 million of the receivable outstanding as at December 31, 2024.
    • Following cessation of Protected Gas after July 31, 2024, despite the absence of an executed contract to do so, Songas continued to lift gas volumes in August, September and October 2024, at an average rate of 20.2 MMcfd. On September 23, 2024, the Company was notified by Songas that it acknowledges it had lifted this volume, but due to TPDC’s refusal to approve a Gas Sales Agreement for this Additional Gas, they would elect to pay for only 19.5% of such volumes. This accords with the payment arrangements for Complex Additional Gas (defined below). Payments were made on this basis by Songas in Q4 2024, in the amount of $1.9 million representing 19.5% of the total invoiced amount of $9.7 million.
    • On August 7, 2024, PAET and PAEM issued a notice of dispute (“Notice of Dispute”) in respect of an investment treaty claim against the GoT for breach of the Agreement on Promotion and Reciprocal Protection of Investment between the Government of the Republic of Mauritius and the GoT (“BIT”), and a contractual dispute against the Government of Tanzania (“GoT”) and TPDC, for breaches of the: (i) PSA, and (ii) the Gas Agreement. Initial meetings with both the Advisory and Coordinating Committees were held during the week of October 14, 2024 without any resolution on the key issues in dispute. The matters have been further referred to the relevant entity’s chief executive officers and working groups in accordance with the dispute resolution process. Discussions continued with meetings held in March 2025 . Further updates on this matter will be made as appropriate.
    • In February 2025, the Company received a judgment (the “Judgment”) from the Tanzanian High Court (Commercial Division) (the “Court”) for a claim brought by a contractor against PAET. The claim was brought by the contractor for losses arising from PAET’s termination of a contract relating to the Company’s 3D seismic acquisition program. The contract was signed in 2022 and works were due to be completed by the end of 2022. However, work only commenced in 2023 and was never completed. Pursuant to the Judgment, the Court ordered specific and general damages in the aggregate of $23.1 million, plus legal costs and interest at a rate of 7% per annum be paid by PAET to the contractor. PAET respectfully disagrees with the Judgement and has initiated the appeal process. PAET was required to post security for the full amount of the Judgment until the appeal is resolved. The Company has recognised the resulting liability in 2024 based on the Judgement applied. The Company has initiated the appeal process, and if successful in that process, a reversal would be recognized in earnings at that time.
    • The well intervention operations on SS-7 have now concluded. The work program, following a complex mobilization to Songo Songo Island, sought to restore the mechanical integrity of the well to shutoff water production in order to restart production from the southern compartment of the Songo Songo gas field. Following several remedial cement treatments to shut off the lower water producing zone and reperforation of the upper Neocomian sands, limited and unsustained gas flows were observed. The Company, in line with its contingency plans, set a cement plug above the Neocomian interval and perforated the shallower Cenomanian sands. Having completed all possible downhole work, and after an unsuccessful attempt to produce gas from the Cenomanian sands, the Company ceased well intervention operations and demobilized the barge and jack-up from the SS-7 site. The total expected project cost has increased to $25.9 million from $23.5 million, primarily as a result of the significant attempts required to shut off water and reproduce the well. A comprehensive post project analysis will be carried out to evaluate the intervention results, which have not met production expectations. During the year, the Company recorded an asset impairment expense of $25.9 million with respect to the SS-7 well workover program.
    • The Company completed a production and saturation logging program in three wells: SS-3, SS-10 and SS-5. Results indicate that the wells and field are performing in line with expectations, and have been used to update longer term reservoir management plans. The total expected program cost increased to $2.2 million from $1.3 million.
    • Net loss attributable to shareholders amounted to $21.6 million for the year ended December 31, 2024 compared to net income attributable to shareholders of $7.0 million for the same prior year period. In Q4 2024, the Company recorded an asset impairment expense of $25.9 million with respect to the SS-7 well workover program and a loss allowance of $21.7 million with respect to the ongoing litigation relating to the Judgment in the High Court of Tanzania.
    • Net cash flows from operating activities decreased by 37% for Q4 2024 and by 44% for the year ended December 31, 2024 compared to the same prior year periods. The decrease for the year ended December 31, 2024 over the comparable prior year period is mainly a result of changes in non-cash working capital.
    • Capital expenditures increased by 635% for Q4 2024 and by 244% for the year ended December 31, 2024 compared to the same prior year periods. The capital expenditures in 2024 primarily related to the well workover program. The capital expenditures in 2023 primarily related to the initial costs of the well workover program and the 3D seismic acquisition program.
    • The Company exited the period with $21.9 million in working capital (December 31, 2023: $67.3 million), cash and cash equivalents of $90.1 million (December 31, 2023: $101.6 million) and long-term debt of $ nil (December 31, 2023: $30.0 million). Cash held in hard currencies (USD, Euro, GBP, CDN) was $87.1 million, as at December 31, 2024 (December 31, 2023: $60.4 million). The decrease in long-term debt is related to a repayment of principal of $10.0 million in April 2024 and October 2024, representing the fourth and fifth semi-annual repayments of the Company’s long-term debt as well as maturing of the outstanding loan principal.
    • Subsequent to December 31, 2024, the Company fully prepaid the $60 million investment (the “Loan”) made by International Finance Corporation (“IFC”) in PAET, pursuant to a loan agreement dated October 29, 2015 between the IFC, PAET and the Company (the “Loan Agreement”). To effect the foregoing prepayment, the Company paid to IFC $30.6 million, representing the aggregate outstanding principal of the Loan together with all accrued interest thereon and all other amounts owing in connection with the Loan as of February 21, 2025. As of the date hereof, the annual variable participating interest granted by PAET to the IFC under the terms of the Loan Agreement remains outstanding.
    • As at December 31, 2024, the current receivable from TANESCO was $12.7 million (December 31, 2023: $5.9 million). The TANESCO long-term receivable as at December 31, 2024 and as at December 31, 2023 was $22.0 million and has been fully provided for. Subsequent to December 31, 2024, the Company has invoiced TANESCO $14.5 million for Q1 2025 gas deliveries. TANESCO has paid the Company $24.2 million to date which relate to the outstanding amount at December 31, 2024 and payments for a portion of Q1 2025 gas deliveries
    • Total working interest proved conventional natural gas reserves (“1P”) and total proved plus probable conventional natural gas reserves (“2P”) decreased by 53% and 56%, respectively, as at December 31, 2024 compared to the prior year. The decrease was primarily attributed to 26.7 Bcf of production in 2024 and 18.1 Bcf of negative technical revisions. The technical revisions were primarily due to lower forecasted gas sales to the end of the License attributed to increased hydro power use in Tanzania and the removal of Proved Undeveloped reserves due to the unsuccessful well intervention on SS-7. The net present value of lower reserves and estimated future cash flows from 2P reserves at a 10% discount rate decreased by 45% compared to the previous year mainly as a result of lower reserves at year end 2024 and the associated 33% reduction in the number of years outstanding on the current License.
    • We currently forecast average Additional Gas sales for 2025 to be in the range of 70-72 MMcfd for the full year which is estimated to be 4% lower than 2024. Given the uncertainty associated with the extension of the License, capital allocations for development projects will be minimal during 2025 and limited to the implementation of essential safety and maintenance matters only.
    Financial and Operating Highlights for the Three Months and Year Ended December 31, 2024
        Three Months
    ended December 31    		     % Change         Year ended
    December 31        		    % Change           

    (Expressed in $’000 unless indicated otherwise)

    2024

    		  

    2023

    		   Q4/24 vs
    Q4/23

    2024

    		  

    2023

    		 Ytd/24 vs
    Ytd/23    		  
    OPERATING              
    Daily average gas delivered and sold(MMcfd) 78.6   80.8   (3)%   72.9   85.6 (15 )%    
    Industrial 19.7   13.4   47%   16.1   13.7 18 %    
    Power 58.9   67.4   (13)%   56.8   71.9 (21 )%    
    Daily average gas delivered and sold and revenue recognized(MMcfd) 71.8   80.8   (11)%   68.8   85.6 (20 )%    
    Industrial 19.7   13.4   47%   16.1   13.7 18 %    
    Power 52.1   67.4   (23)%   52.7   71.9 (27 )%    
    Average price($/mcf)                
    Industrial 7.35   8.97   (18)% 8.45   8.73   (3)%       
    Power 3.90   3.84   2% 3.88   3.71   5%       
    Weighted average 4.85   4.69   3% 4.95   4.51   10%       
    Operating netback($/mcf)1 3.56   2.28   56% 3.13   2.38   32%       

    FINANCIAL

    		              
    Revenue 36,855   24,448   51% 111,593   110,235 1%       
    Net (loss) / income attributable to shareholders (25,821 ) (438 ) n/m (21,578)   7,014 n/m      
    per share – basic and diluted($) (1.31 ) (0.02 ) n/m (1.09)   0.35 n/m      
    Net cash flows from operating activities 6,254   9,858   (37)% 27,086   48,485 (44)%      
    per share – basic and diluted($)1 0.32   0.50   (36)% 1.37   2.44 (44)%      
    Capital expenditures1 14,869   2,065   620% 27,548   8,103 240%      
    Weighted average Class A and Class B Shares1(‘000) 19,772   19,826   0% 19,780   19,841 0%      
          December 31,

    As at
    December 31,

    		    
          2024   2023 % Change  
    Working capital (including cash)1       21,904     67,323   (67 )%        
    Cash and cash equivalents       90,076     101,566   (11 )%        
    Long-term loan       –   21,961   (100 )%        
    Outstanding shares(‘000)                    
    Class A       1,750     1,750   0 %        
    Class B       18,022     18,051   0 %        
    Total shares outstanding       19,772     19,801   0 %        

    RESERVES2

    		                  
    Gross Reserves(Bcf)                  
    Proved       40   85    (53)%      
    Probable       1   9    (89)%      
    Proved plus probable       41   94    (56)%      
    Net Present Value, discounted at 10%($ million)                    
    Proved                             62           108    (43)%          
    Proved plus probable                             65           119    (45)%          

    1 See Non-GAAP Financial Measures and Ratios.

    Jay Lyons, Chief Executive Officer, commented:

    “Orca remains committed to Tanzania and wants to play a key role in Tanzania’s power generation strategy for the foreseeable future. Although demand for power in Tanzania is growing rapidly, surpassing the country’s current capacity, Orca has been unable to agree with the Government of Tanzania and TPDC with regard to securing a license extension for the Songo Songo gas field.

    Given the limited time remaining on the License, and the lack of a resolution on an extension, Orca has limited capital spending to only essential safety and maintenance activities. At this current moment, further investment is not commercially viable unless the License is extended. Therefore, in order to preserve shareholder value, Orca has focused on reducing costs, operating efficiently, and minimizing expenditures.

    There are currently no certainties on the timing, nature and extent of any such extensions. Until such extension has been finalized, a high degree of uncertainty exists with respect to the extent of the Company’s operating activities subsequent to October 2026. The Company is prepared to invest further in Tanzania. However, this investment depends on resolving the License extension and achieving a sustainable commercial framework. Without a resolution, Orca must act to protect the interests of its shareholders, even as it continues to support Tanzania’s long-term energy goals.”

    The Company’s complete Audited Consolidated Financial Statements and Notes and Management’s Discussion & Analysis for the year ended December 31, 2024 may be found on the Company’s website www.orcaenergygroup.com or on the Company’s profile on SEDAR+ at www.sedarplus.ca.

    Orca Energy Group Inc.

    Orca Energy Group Inc. is an international public company engaged in natural gas development and supply in Tanzania through its subsidiary PanAfrican Energy Tanzania Limited. Orca trades on the TSX Venture Exchange under the trading symbols ORC.B and ORC.A.

    The principal asset of Orca is its indirect interest in the with TPDC and the GoT in the United Republic of Tanzania. This PSA covers the production and marketing of certain gas from the License offshore Tanzania. The PSA defines the gas produced from the Songo Songo gas field as “Protected Gas“ and “Additional Gas“. The Gas Agreement defined “Complex Additional Gas”, to be gas produced from the Songo Songo gas field, which is included in Additional Gas. Under the Gas Agreement, until July 31, 2024, Protected Gas was owned by TPDC and was sold to Songas and TPCPLC. After July 31, 2024, Protected Gas ceased and all production from the Songo Songo gas field constitutes Additional Gas which PAET and TPDC are entitled to sell on commercial terms until the PSA expires in October 2026. Songas is the owner of the infrastructure that enables the gas to be processed and delivered to Dar es Salaam, which includes a gas processing plant on Songo Songo Island. Additional Gas is all gas that is produced from the Songo Songo gas field in excess of Protected Gas.

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

    Abbreviations

    Bcf billion standard cubic feet
    MMcf million standard cubit feet
    MMcfd million standard cubic feet per day

    Non-GAAP Financial Measures and Ratios
    In this press release, the Company has disclosed the following non-GAAP financial measures, non-GAAP ratios and supplementary financial measures: capital expenditures, operating netback, operating netback per mcf, working capital, net cash flows from operating activities per share and weighted average Class A and Class B Shares.

    These non-GAAP financial measures and ratios disclosed in this press release do not have any standardized meaning under IFRS and may not be comparable to similar financial measures disclosed by other issuers. These non-GAAP financial measures and ratios should not, therefore, be considered in isolation or as a substitute for, or superior to, measures and ratios of the Company’s financial performance defined or determined in accordance with IFRS. These non-GAAP financial measures and ratios are calculated on a consistent basis from period to period.

    Non-GAAP Financial Measures

    Capital expenditures
    Capital expenditures is a useful measure as it provides an indication of our investment activities. The most directly comparable financial measure is net cash from (used in) investing activities. A reconciliation to the most directly comparable financial measure is as follows:

      Three Months ended 
    December 31    		    Year ended
    December 31       		  
    $’000 2024   2023     2024   2023  
    Pipelines, well workovers and infrastructure 14,869   2,067     27,233   7,984  
    Other capital expenditures –   (2 )   315   119  
    Capital expenditures 14,869   2,065     27,548   8,103  
    Right of use –   852     57   852  
    Change in non-cash working capital (4,125 ) (708 )   (9,645 ) (161 )
    Net cash used by investing activities 10,744   2,209     17,960   8,794  

    Operating netback

    Operating netback is calculated as revenue less processing and transportation tariffs, TPDC’s revenue share, and operating and distribution costs. The operating netback summarizes all costs that are associated with bringing the gas from the Songo Songo gas field to the market, it is a measure of profitability. A reconciliation to the most directly comparable financial measure is as follows:

      Three Months ended
    December 31    		   Year ended
    December 31    		  
    $’000 2024   2023     2024   2023  
    Revenue 36,855   24,448     111,593   110,235  
    Production, distribution and transportation expenses (5,265 ) (4,576 )   (19,990 ) (19,197 )
    Net Production Revenue 31,590   19,872     91,603   91,038  
    Less current income tax adjustment (recorded in revenue) (8,061 ) (2,896 )   (12,817 ) (16,527 )
    Operating netback 23,529   16,976     78,786   74,511  
    Sales volumes MMcf where revenue is recognized 6,604   7,435     25,185   31,256  
    Netback $/mcf 3.56   2.28     3.13   2.38  

    Non-GAAP Ratios

    Operating netback per mcf

    Operating netback per mcf represents the profit margin associated with the production and sale of Additional Gas and is calculated by taking the operating netback and dividing it by the volume of Additional Gas delivered and sold. This is a key measure as it demonstrates the profit generated from each unit of production.

    Supplementary Financial Measures

    Working capital

    Working capital is defined as current assets less current liabilities, as reported in the Company’s Consolidated Statements of Financial Position. It is an important measure as it indicates the Company’s ability to meet its financial obligations as they fall due.

    Net cash flows from operating activities per share

    Net cash flows from operating activities per share is calculated as net cash flows from operating activities divided by the weighted average number of shares, similar to the calculation of earnings per share. Net cash flow from operations is an important measure as it indicates the cash generated from the operations that is available to fund ongoing capital commitments.

    Weighted average Class A and Class B Shares

    In calculating the weighted average number of shares outstanding during any period the Company takes the opening balance multiplied by the number of days until the balance changes. It then takes the new balance and multiplies that by the number of days until the next change, or until the period end. The resulting multiples of shares and days are then aggregated and the total is divided by the total number of days in the period.

    Forward-Looking Statements

    This press release contains forward-looking statements or information (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact included in this press release, which address activities, events or developments that Orca expects or anticipates to occur in the future, are forward-looking statements. Forward-looking statements often contain terms such as may, will, should, anticipate, expect, continue, estimate, believe, project, forecast, plan, intend, target, outlook, focus, could and similar words suggesting future outcomes or statements regarding an outlook. More particularly, this press release contains, without limitation, forward-looking statements pertaining to the following: anticipated average gas sales, including Additional Gas sales, for 2024; ongoing negotiation of new commercial terms and discussion of requirements under the Gas Agreement with Songas and TPCPLC; ongoing discussion of PGSA extension with TANESCO; assessment by the Company of the merits of the claim made by the seismic contractor and the timing of the scheduled hearing; planned intervention in offshore well SS-7 including timing, project costs and the anticipated increased gas delivery; planned installation of a new common well inlet manifold and its anticipated timing, costs and effects; planned production logging program at various wells and its anticipated timing, costs and effects; implementation of a new work program at the Songas plant and forecasted production improvement as a result; the Company’s expectation that capital projects will be funded through the Company’s working capital; the Company’s expectation that all capital allocation decisions will be based upon prudent economic evaluations and returns; extension of the development license and the Company’s expectation to continue to actively engage with the MoE to progress the license extension; maintenance of gas sale contract discipline by the Company in accordance with its gas supply agreements; and the Company’s expectations regarding supply and demand of natural gas. In addition, statements relating to “reserves” are by their nature forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions that the reserves described can be produced profitably in the future. The recovery and reserve estimates of the Company’s reserves provided herein are estimates only and there is no guarantee that the estimated reserves will be recovered. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, access to resources and infrastructure, performance or achievement since such expectations are inherently subject to significant business, economic, operational, competitive, political and social uncertainties and contingencies.

    These forward-looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company’s control, and many factors could cause the Company’s actual results to differ materially from those expressed or implied in any forward-looking statements made by the Company, including, but not limited to: risk that the Company may incur losses and legal expenses as a result of the claim brought forth by the seismic contractor; risk that the cost, timing and anticipated benefits from the Company’s various development programs in 2024 are different than expected; that not all capital allocation decisions will be based upon prudent economic evaluations and returns; inability to extend the development license and inability to maintain gas sale contract discipline; uncertainties with respect to negotiations involving the Gas Agreement; changes to forecasts regarding future development capital spending and source of capital funding; risk of future restrictions on the movement of cash from Jersey, Mauritius or Tanzania; occurrence of circumstance or events which significantly impact the Company’s cash flow and liquidity and the Company’s ability cover its long-term and short-term obligations or fund planned capital expenditures; prolonged foreign exchange reserves deficiency in Tanzania; the lack of availability of US dollars; inability to convert Tanzanian shillings into US dollars as and when required; discontinuation of work by the Company with the GoT on alternative development plan for longer term field development; lack of access to Songas processing and transportation facilities; risk of reduced current and potential production capacity of the Songo Songo gas field; the Company’s expectations regarding the supply and demand of natural gas is incorrect; uncertainty associated with the evolution of Tanzanian legislation; the risk of unanticipated effects regarding changes to the Company’s tax liabilities and its operations as a result of amendments made to existing legislation, the implementation of further legislation and the Company’s interpretation of the same; the impact of general economic conditions in the areas in which the Company operates; civil unrest; the susceptibility of the areas in which the Company operates to outbreaks of disease; industry conditions; changes in laws and regulations including the adoption of new environmental laws and regulations; impact of local content regulations and variances in the interpretation and enforcement of such regulations; the lack of availability of qualified personnel or management; fluctuations in commodity prices, foreign exchange or interest rates; stock market volatility; competition for, among other things, capital, oil and gas field services and skilled personnel and increased competition; failure to obtain required equipment for field development; delays in development plans; effect of changes to the PSA on the Company as a result of the implementation of new government policies for the oil and gas industry; inaccurate reserves estimates; incorrect forecasts in production and growth potential of the Company’s assets; obtaining required approvals of regulatory authorities; risks associated with negotiating with foreign governments; inability to satisfy debt conditions of financing; risk that the Company will not be able to fulfil its contractual obligations; risk that trade and other receivables may not be paid by the Company’s customers when due; the risk that the Company’s Tanzanian operations will not provide near term revenue earnings; reduced global economic activity as a result of the continuing impacts of geo-political conflicts or pandemics. In addition, there are risks and uncertainties associated with oil and gas operations, therefore the Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by these forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive.

    Future shareholder returns, including but not limited to the payment of dividends or other distributions to shareholders, if any, and the level thereof is uncertain. Any decision to pay further distributions on the Class A Shares and Class B Shares (including the actual amount, the declaration date, the record date and the payment date in connection therewith) will be subject to the discretion of the Board of Directors of the Company and may depend on a variety of factors, including, without limitation the Company’s business performance, financial condition, financial requirements, growth plans, expected capital requirements and other conditions existing at such future time including, without limitation, contractual restrictions and compliance with applicable laws. There can be no assurance that the Company will pay any distributions in the future.

    Such forward-looking statements are based on certain assumptions made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors the Company believes are appropriate in the circumstances, including, but not limited to, the anticipated supply and demand of natural gas are in line with the Company’s expectations; the Company’s average Additional Gas sales are in line with forecasts; accurate assessment by the Company of the merit of claims brought forward by the seismic contractor; successful negotiation of the Gas Agreement; successful implementation of various development programs at the budgeted expenditures, including the planned intervention in the SS-7 well; all capital allocation decisions will be based upon prudent economic evaluations and returns; extension of the development license and maintenance of gas sale contract discipline on a go-forward basis pursuant to the Company’s gas supply agreements; that the Company will receive payment of arrears from TANESCO; that the Company will have sufficient cash flow, debt or equity sources or other financial resources required to fund its capital and operating expenditures and requirements as needed; that there will continue to be no restrictions on the movement of cash from Mauritius, Jersey or Tanzania; availability of US dollars and that the Company will continue to be able to convert Tanzanian shillings into US dollars as required; that the Company will successfully negotiate agreements; receipt of required regulatory approvals; the ability of the Company to increase production as required to meet demand; infrastructure capacity; commodity prices will not deteriorate significantly; the ability of the Company to obtain equipment and services in a timely manner to carry out exploration, development and exploitation activities; future capital expenditures; availability of skilled labor; timing and amount of capital expenditures; uninterrupted access to infrastructure; that the impact of increasing competition is consistent with expectations; conditions in general economic and financial markets; effects of regulation by governmental agencies; current or, where applicable, proposed industry conditions, laws and regulations will continue in effect or as anticipated as described herein; the effect of new environmental and climate-change related regulations will not negatively impact the Company; the Company is able to maintain strong commercial relationships with the GoT and other state and parastatal organizations; the current and future administration in Tanzania continues to honor the terms of the PSA and the Company’s other principal agreements; and other matters.

    The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

    The MIL Network –

  • MIL-OSI Economics: Samsung Electronics Announces First Quarter 2025 Results

    Source: Samsung

    Samsung Electronics today reported financial results for the first quarter ended March 31, 2025.
     
    The Company posted KRW 79.14 trillion in consolidated revenue, an all-time quarterly high, on the back of strong sales of flagship Galaxy S25 smartphones and high-value-added products. Operating profit increased to KRW 6.7 trillion despite headwinds for the DS Division, which experienced a decrease in quarterly revenue.
     
    The Company has allocated its highest-ever annual R&D expenditure for 2024, and in the first quarter of this year, it has also increased its R&D expenditure by 16% compared to the same period last year, amounting to 9 trillion won.
     
    Despite the growing macroeconomic uncertainties due to recent global trade tensions and slowing global economic growth, making it difficult to predict future performance, the Company will continue to make various efforts to secure growth. Additionally, assuming that the uncertainties are diminished, it expects its performance to improve in the second half of the year.
     
     
    Semiconductors Projected To Continue Growth by Meeting Evolving AI Needs
    The DS Division posted KRW 25.1 trillion in consolidated revenue and KRW 1.1 trillion in operating profit for the first quarter.
     
    For the Memory Business, revenue was driven by expanded server DRAM sales and the addressing of additional NAND demand amid a perceived bottoming out of the market price.
     
    However, overall earnings were impacted by the erosion of average selling price (ASP), as well as a decrease in HBM sales due to export controls on AI chips and deferred demand in anticipation of upcoming enhanced HBM3E products.
     
    In Q2 2025, the Memory Business anticipates robust demand for AI servers and will therefore seek to strengthen our position in the high-value-added market via our server-centric portfolio, along with a ramp-up of the enhanced HBM3E 12H to meet initial demand. For NAND, the Memory Business seeks to enhance cost competitiveness by accelerating the transition to 8th Generation V-NAND for all applications.
     
    In H2 2025, AI-related demand is expected to remain high in conjunction with the launch of new GPUs. Therefore, the Memory Business will expand the sales of high-value-added products, including enhanced HBM3E 12H products and high density DDR5 modules of 128GB or higher.
     
    In the mobile and PC markets, on-device AI is expected to proliferate, so the Memory Business will proactively respond to this shift in the business environment with its industry-leading 10.7Gbps LPDDR5x products.
     
    Earnings at the System LSI Business improved modestly, due to an increased supply of high-resolution sensors and LSI products. This improvement came despite a sluggish smartphone market and the delayed adoption of the Company’s flagship system-on-a-chip (SoC).
     
    In Q2 2025, the System LSI Business will maintain steady revenue by gaining SoC adoption by a major customer for new flagship models and capitalizing on the growing adoption of 200-megapixel sensors.
     
    In H2 2025, the System LSI Business will expand its flagship SoC supply, proactively address demand for high-resolution main and telephoto camera sensors and expand its automotive sensor portfolio.
     
    Earnings for the Foundry Business were muted due to sluggish seasonal mobile demand, inventory adjustments and stagnant fab utilization. However, the Business focused on the 2nm Gate-All-Around (GAA) process, improving yields and stabilizing the line while keeping the program on schedule, while also securing additional sub-5nm orders, specifically the 2nm and 4nm nodes for AI and HPC applications.
     
    In Q2 2025, the Business will stabilize its 2nm process production and drive earnings improvement by actively addressing strong mobile and automotive demand in the United States. Looking ahead to H2 2025, the Foundry Business aims to start 2nm mass production and secure major 2nm orders and strengthen its specialty process portfolio on mature nodes.
     
     
    SDC Aims To Navigate Challenges and Drive Growth With Differentiated Offerings
    Samsung Display Corporation (SDC) posted KRW 5.9 trillion in consolidated revenue and KRW 0.5 trillion in operating profit for the first quarter.
     
    For the mobile display business, SDC reported declining profits QoQ due to seasonality. The results of the large display business have improved via the launch of new QD-OLED monitor products for major clients.
     
    In Q2 2025, the mobile display business maintains a conservative outlook on earnings while pursuing the stable supply of new products such as foldables. For the large display business, demand for gaming monitors is expected to grow due to the upcoming launches of new products.
     
    In H2 2025, SDC aims to grow the mobile display business sales through differentiated technologies and products amid rising market uncertainties. For the large display business, SDC will strengthen its presence in both B2C and B2B monitor markets with diverse product lineups.
     
     
    MX Achieves Revenue Growth, Continues To Expand AI Capabilities
    The MX and Networks businesses posted KRW 37 trillion in consolidated revenue and KRW 4.3 trillion in operating profit for the first quarter.
     
    The MX Business experienced QoQ growth in both revenue and operating profit thanks to the strong sales of its Galaxy S25 series, which features an advanced Galaxy AI experience. Enhanced cost competency and price declines for some components also contributed to solid double-digit profitability.
     
    In Q2 2025, the MX Business plans to sustain flagship-centric sales amid weak seasonality by successfully launching the Galaxy S25 Edge. It will also expand its AI smartphone lineup through the introduction of “Awesome Intelligence” to the Galaxy A series.
     
    In H2 2025, the MX Business will strengthen its foldable lineup by offering a differentiated AI user experience. In addition, the Business will launch new ecosystem products with enhanced AI and health capabilities, and explore new product segments such as XR.
     
     
    Visual Display Posts Solid Performance, Strengthens Advanced AI Features
    The Visual Display and Digital Appliances businesses posted KRW 14.5 trillion in consolidated revenue and KRW 0.3 trillion in operating profit in the first quarter.
     
    The Visual Display Business recorded solid sales of strategic products such as Neo QLEDs, OLEDs, and large models of 75 inches and over, while price increases and material cost reductions resulted in improved QoQ profitability.
     
    In Q2 2025, the Business intends to expand TV sales with its 2025 AI TV lineup and the integration of advanced AI functions.
     
    In H2 2025, the Business will focus on capturing peak season demand by strategic collaboration with distributors, based on an enhanced AI TV lineup.

    MIL OSI Economics –

  • MIL-OSI Banking: Samsung Electronics Announces First Quarter 2025 Results

    Source: Samsung

    Samsung Electronics today reported financial results for the first quarter ended March 31, 2025.
     
    The Company posted KRW 79.14 trillion in consolidated revenue, an all-time quarterly high, on the back of strong sales of flagship Galaxy S25 smartphones and high-value-added products. Operating profit increased to KRW 6.7 trillion despite headwinds for the DS Division, which experienced a decrease in quarterly revenue.
     
    The Company has allocated its highest-ever annual R&D expenditure for 2024, and in the first quarter of this year, it has also increased its R&D expenditure by 16% compared to the same period last year, amounting to 9 trillion won.
     
    Despite the growing macroeconomic uncertainties due to recent global trade tensions and slowing global economic growth, making it difficult to predict future performance, the Company will continue to make various efforts to secure growth. Additionally, assuming that the uncertainties are diminished, it expects its performance to improve in the second half of the year.
     
     
    Semiconductors Projected To Continue Growth by Meeting Evolving AI Needs
    The DS Division posted KRW 25.1 trillion in consolidated revenue and KRW 1.1 trillion in operating profit for the first quarter.
     
    For the Memory Business, revenue was driven by expanded server DRAM sales and the addressing of additional NAND demand amid a perceived bottoming out of the market price.
     
    However, overall earnings were impacted by the erosion of average selling price (ASP), as well as a decrease in HBM sales due to export controls on AI chips and deferred demand in anticipation of upcoming enhanced HBM3E products.
     
    In Q2 2025, the Memory Business anticipates robust demand for AI servers and will therefore seek to strengthen our position in the high-value-added market via our server-centric portfolio, along with a ramp-up of the enhanced HBM3E 12H to meet initial demand. For NAND, the Memory Business seeks to enhance cost competitiveness by accelerating the transition to 8th Generation V-NAND for all applications.
     
    In H2 2025, AI-related demand is expected to remain high in conjunction with the launch of new GPUs. Therefore, the Memory Business will expand the sales of high-value-added products, including enhanced HBM3E 12H products and high density DDR5 modules of 128GB or higher.
     
    In the mobile and PC markets, on-device AI is expected to proliferate, so the Memory Business will proactively respond to this shift in the business environment with its industry-leading 10.7Gbps LPDDR5x products.
     
    Earnings at the System LSI Business improved modestly, due to an increased supply of high-resolution sensors and LSI products. This improvement came despite a sluggish smartphone market and the delayed adoption of the Company’s flagship system-on-a-chip (SoC).
     
    In Q2 2025, the System LSI Business will maintain steady revenue by gaining SoC adoption by a major customer for new flagship models and capitalizing on the growing adoption of 200-megapixel sensors.
     
    In H2 2025, the System LSI Business will expand its flagship SoC supply, proactively address demand for high-resolution main and telephoto camera sensors and expand its automotive sensor portfolio.
     
    Earnings for the Foundry Business were muted due to sluggish seasonal mobile demand, inventory adjustments and stagnant fab utilization. However, the Business focused on the 2nm Gate-All-Around (GAA) process, improving yields and stabilizing the line while keeping the program on schedule, while also securing additional sub-5nm orders, specifically the 2nm and 4nm nodes for AI and HPC applications.
     
    In Q2 2025, the Business will stabilize its 2nm process production and drive earnings improvement by actively addressing strong mobile and automotive demand in the United States. Looking ahead to H2 2025, the Foundry Business aims to start 2nm mass production and secure major 2nm orders and strengthen its specialty process portfolio on mature nodes.
     
     
    SDC Aims To Navigate Challenges and Drive Growth With Differentiated Offerings
    Samsung Display Corporation (SDC) posted KRW 5.9 trillion in consolidated revenue and KRW 0.5 trillion in operating profit for the first quarter.
     
    For the mobile display business, SDC reported declining profits QoQ due to seasonality. The results of the large display business have improved via the launch of new QD-OLED monitor products for major clients.
     
    In Q2 2025, the mobile display business maintains a conservative outlook on earnings while pursuing the stable supply of new products such as foldables. For the large display business, demand for gaming monitors is expected to grow due to the upcoming launches of new products.
     
    In H2 2025, SDC aims to grow the mobile display business sales through differentiated technologies and products amid rising market uncertainties. For the large display business, SDC will strengthen its presence in both B2C and B2B monitor markets with diverse product lineups.
     
     
    MX Achieves Revenue Growth, Continues To Expand AI Capabilities
    The MX and Networks businesses posted KRW 37 trillion in consolidated revenue and KRW 4.3 trillion in operating profit for the first quarter.
     
    The MX Business experienced QoQ growth in both revenue and operating profit thanks to the strong sales of its Galaxy S25 series, which features an advanced Galaxy AI experience. Enhanced cost competency and price declines for some components also contributed to solid double-digit profitability.
     
    In Q2 2025, the MX Business plans to sustain flagship-centric sales amid weak seasonality by successfully launching the Galaxy S25 Edge. It will also expand its AI smartphone lineup through the introduction of “Awesome Intelligence” to the Galaxy A series.
     
    In H2 2025, the MX Business will strengthen its foldable lineup by offering a differentiated AI user experience. In addition, the Business will launch new ecosystem products with enhanced AI and health capabilities, and explore new product segments such as XR.
     
     
    Visual Display Posts Solid Performance, Strengthens Advanced AI Features
    The Visual Display and Digital Appliances businesses posted KRW 14.5 trillion in consolidated revenue and KRW 0.3 trillion in operating profit in the first quarter.
     
    The Visual Display Business recorded solid sales of strategic products such as Neo QLEDs, OLEDs, and large models of 75 inches and over, while price increases and material cost reductions resulted in improved QoQ profitability.
     
    In Q2 2025, the Business intends to expand TV sales with its 2025 AI TV lineup and the integration of advanced AI functions.
     
    In H2 2025, the Business will focus on capturing peak season demand by strategic collaboration with distributors, based on an enhanced AI TV lineup.

    MIL OSI Global Banks –

  • MIL-OSI USA: Case, Bresnahan, Jr. Introduce Small Business Measure To Expand Employee Stock Ownership Plans

    Source: United States House of Representatives – Congressman Ed Case (Hawai‘i – District 1)

    (Washington, DC) – U.S. Representative Ed Case (D-Hawai‘i-01), along with U.S. Representative Robert Bresnahan, Jr. (R-Pennsylvania-08), today announced introduction of a bipartisan measure to assist small businesses to adopt Employee Stock Ownership Plans (ESOPs), which offer a tested solution to employment and business productivity, stability and ownership transfer.

    Their ESOP Funding For SBA Position Act 2025 is also co-sponsored by U.S. Representative Rashida Tlaib (D-Michigan-12).

    “ESOPs are a proven mechanism for allowing employees to become full stakeholders in their businesses,” said Case.

    “This wealth-generating and, especially for small family-owned businesses, retirement plan approach creates a more engaged and productive workforce by aligning employee interests with a company’s success. This model promotes a stronger sense of ownership and community and keeps investment and wealth in local economies, benefiting workers and their families.”

    “When employees share in ownership, they also share in success, which builds a business where everyone is invested, not just financially, but personally,” said Rep. Bresnahan, Jr.

    “ESOPs are vital to building succession plans to ensure these small businesses remain in their communities where they belong. This legislation will improve access to this program for thousands of businesses and millions of employees across the country, and I thank Rep. Case for his partnership on this crucial investment for small businesses.”

    Case continued: “In Hawai‘i, we’ve seen firsthand the benefits of ESOPs. Hawai‘i is home to the second-oldest ESOP chapter in the nation, underscoring the success and importance of employee-owned businesses in our state.

    “From that humble beginning, the Hawai‘i Chapter of the ESOP Association now represents over 45 ESOP companies and professional service providers in the state, which is a significant number considering our state’s size. These businesses, with the help of ESOPs, have continued to thrive, contributing to the local economy in ways that benefit families and the broader community.”

    “Despite this strong record of ESOPs in Hawai‘i and throughout the United States, many small businesses face challenges in navigating the complex process of establishing and maintaining an ESOP. They often lack expertise in tax considerations, regulatory compliance, stock valuation, and securing the necessary funding. Our measure expands the availability of that necessary expertise and advocacy to grow ESOPs further across our country.”

    Nationally, as of 2021 there were 6,247 ESOPs, with nearly 11 million workers and a little more than $2 trillion in ESOP assets, with average assets per employee of $165,000.

    Attachments:

    ·        Text of the measure is here

    ·        Rep. Case’s remarks on introduction of the measure are here

    ###

     

    MIL OSI USA News –

  • MIL-OSI Submissions: Asia Pacific – Tiny nation targets climate investors to become citizens and help it change the world

    Source: Nauru Economic and Climate Resilience Citizenship Program

    Tiny nation targets climate investors to become citizens and help it change the world

    “We will not wait for the waves to wash away our homes and infrastructure”, was the declaration by the leader of the world’s smallest republic, just after the nation had used COP29 as a launchpad for the world’s most innovative climate resilience project.

    “While the world debates climate action, we must take proactive steps to secure our nation’s future,” continued President of Nauru David Adeang.

    A member of the Climate Vulnerable Forum made up of developing nations on the front line of climate change, Nauru’s government is challenging investors from across the world to be a part of a bold solution not just for the nation, but globally.

    The country is embarking on a project that will reform their nation in the face of climate change, which as well as dealing with issues like food and water security, includes the “Higher Ground Initiative” – relocating almost their entire population from the coast to higher ground.

    This project is huge. Some may call it audacious. And it’s expensive.

    Yet the man leading the charge to raise a large portion of the funds through a unique citizenship program targeting climate investors and entrepreneurs says there is already interest from around the world.

    New Zealander Edward Clark has an extensive background in international banking, financial crime and compliance, which is exactly why the Government of Nauru appointed him as CEO of the Nauru Economic and Climate Resilience Citizenship Program.

    Mr Clark said unlike some citizenship by investment programs that have been the subject of controversy, the tightly managed Nauru program was about “flipping the narrative for climate vulnerable countries.”

    “We want those who are passionate about the global future to become citizens because our goal is to transform Nauru from being a passive recipient of climate funding into an incubator for climate innovation.”

    By that he means Nauru can become a model for how truly sustainable communities and their underlying infrastructure can be developed.

    “Climate entrepreneurs can partner with Nauru to develop new solutions,” he said.

    “Ecopreneurs can benefit from the necessary seed funding to develop new technologies and solutions, and Nauru will benefit from being a testing ground for new and cost-effective solutions.”

    Mr Clark said while the citizenship program is new, he’s elated at the interest.

    “The first new citizenships are close to being granted and these are people from across the world who want to invest in climate resilience and be part of a higher purpose,” he said.

    Further information:

    The Program – https://www.ecrcp.gov.nr
    The Higher Ground Initiative and other Nauru climate resilience initiatives https://www.climatechangenauru.nr

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Appointments – Three Fellows Selected for 2025 Melvin MS Goo Writing Fellowship

    Source: East-West Center

    HONOLULU (Apr. 29, 2025) – The East-West Center is pleased to announce that historian John Delury and journalists Mengyu Dong and Sylvie Zhuanghave been selected as the 2025 recipients of the Melvin MS Goo Writing Fellowship. Supported by a generous endowment from the Melvin MS Goo Memorial Fund, the fellowship awards financial support via the East-West Center Foundation to individuals for projects that enhance understanding between the United States and China. 2025 projects will cover Chinese migration to the US via Central America, technological competition between the two nations, and US-China relations through a Roman Empire lens.

    About the Fellows

    John Delury, visiting professor of political science at John Cabot University in Rome

    An American historian of modern China and East Asian affairs, John Delury has authored two books and contributed numerous essays featured in Foreign Affairs, Foreign Policy, New Statesman, and The New York Times. As a Goo Fellow, Delury is developing a longform feature piece examining US-China relations through the lens of the Roman Empire. Delury is hopeful this piece “can enhance mutual understanding between the peoples of China and the United States at a critical moment in their relationship. Written from the vantage point of Rome, it’s an ambitious essay, and I am grateful for the fellowship’s support to make it possible.”
     
    Mengyu Dong, senior editor for China Digital Times

    Based in Northern California, journalist Mengyu Dong’s reporting on migrant communities has appeared in the BBC, Radio Free Asia, and Initium Media, among others. As part of the Goo Fellowship, Dong is writing a book chronicling the personal stories behind the latest wave of Chinese migration to the United States via Central America, known within the Chinese community as zouxian, or “the walk route.”
     
    Sylvie Zhuang, China desk reporter for South China Morning Post

    A Beijing-based journalist and former research consultant at the World Bank, Sylvie Zhuang reports on Chinese politics and US-China technological rivalry. Through the Goo Fellowship, she will explore how advancements in AI and space exploration impact human society and geopolitical power. Zhuang said she will also be examining tech rivalries “from the perspective of Chinese science fiction, which presents a unique set of philosophies, pointing to the hopes and fears of a shared future.”  

    “These projects mark an exciting and meaningful continuation of the Fellowship’s mission,” said East-West Center Goo Fellowship Coordinator Devon Grandy. “The selection committee was particularly pleased by the breadth of topics and distinctive approaches offered by this year’s cohort. We’re confident that their stories will resonate with audiences in the United States, China, and beyond.”

    “We are very pleased that we were able to award three excellent writing fellowships this year,” said Susan Kreifels, East-West Center Journalism Program Manager. “We believe each unique story will help serve Melvin MS Goo’s legacy of understanding between the people of China and the United States.”

    About the Melvin MS Goo Memorial Fund

    The Melvin MS Goo Memorial Fund was established through a gift of the Melvin MS Goo Revocable Living Trust to memorialize Mr. Goo’s intent for his legacy gift to enhance understanding between the United States and China. Melvin MS Goo was a veteran journalist who led a 34-year career in the United States and Asia prior to his passing in 2016. Born in Macau and graduating high school in Honolulu, Hawaiʻi, Mr. Goo worked for 18 years as a reporter, editor, and editorial writer at The Honolulu Advertiser. In 1977 he was awarded the prestigious Nieman Fellowship at Harvard University. Mr. Goo continued his career in Asia, rising to Chief News Editor at The Nikkei Weekly and later Editor-in-Chief at Taiwan News.
     
    The East-West Center, established by the US Congress in 1960, promotes better relations and understanding among the people and nations of the United States, Asia, and the Pacific through cooperative research, study, and dialogue. The Center is an independent, public, nonprofit organization with funding from the US government, and additional support provided by individuals, foundations, corporations, and governments in the region. The East-West Center Foundation is a private non-profit organization, established in 1982 to broaden and diversify private support for the Center.

    MIL OSI – Submitted News –

  • MIL-OSI: RecycLiCo Battery Materials Mutual Termination of Taiwan Joint Venture with Zenith Chemical Corporation

    Source: GlobeNewswire (MIL-OSI)

    SURREY, British Columbia, April 29, 2025 (GLOBE NEWSWIRE) — RecycLiCo Battery Materials Inc. (“RecycLiCo” or the “Company”) (TSX.V: AMY | OTCQB: AMYZF | FSE: ID4), a pioneer in sustainable lithium-ion battery recycling and upcycling technologies, today announced that the Company and its joint venture partner Zenith Chemical Corporation (“Zenith”) have jointly determined to abandon the construction of a battery recycling facility in Taiwan and have entered into a definitive Mutual Release and Termination Agreement (the “Agreement”) to unwind their previously established joint venture Company.

    Under the terms of the Agreement, RecycLiCo will sell to Zenith its entire interest in 3,000,000 common shares of the joint venture company, RecycLiCo Zenith Battery Materials Technology Co., for gross proceeds of USD $581,114.08. As additional consideration, Zenith will return to RecycLiCo 4,000,000 RecycLiCo common shares and 6,000,000 share purchase warrants previously issued under the Agreement. RecycLiCo has retained ownership of its technology. The Agreement was executed on April 28, 2025, and will close following receipt of required regulatory approval from the Department of Investment Review in Taiwan.

    The Agreement provides for the full and final settlement of all rights and obligations between the parties relating to the joint venture. Effective as of the closing date, Zenith will assume full ownership of the joint venture and will take steps to discontinue the use of the RecycLiCo name and dissolve the joint venture company pursuant to applicable Taiwanese regulations.

    “This decision reflects a mutual recognition by both Zenith and the Company of the evolving world economic and geopolitical environment,” said Richard Sadowsky, Interim Chief Executive Officer of RecycLiCo. “Market conditions are not what they were in 2022 when the original joint venture feasibility study was conducted. There have been changes in battery material supply streams and increased capitalization costs relative to the initial projections, which were prepared during a period of elevated lithium prices. We thank our partners at Zenith for their support and collaboration.”

    “The Company remains firmly committed to its global commercialization strategy and focus on flexible, capital-efficient growth. By eliminating the capital commitments associated with the joint venture, we have significantly strengthened our cash position and extended our financial runway to nearly a decade at current spending levels. We can now direct more resources toward enhancing our scientific and technical capacity and exploiting opportunities in our core growth markets, including potential strategic investments in companies with complementary technology.“

    About RecycLiCo        

    RecycLiCo Battery Materials Inc. is a battery materials company specializing in sustainable lithium-ion battery upcycling and materials production. RecycLiCo has developed advanced technologies that efficiently recover battery-grade materials from lithium-ion batteries, addressing the global demand for environmentally friendly solutions in energy storage. With minimal processing steps and up to 99% extraction of lithium, cobalt, nickel, and manganese. RecycLiCo’s hydrometallurgical process turns lithium-ion battery waste into battery-grade cathode precursor, lithium hydroxide, and lithium carbonate for direct integration into the re- manufacturing of new lithium-ion batteries.

    For more information, please contact:
    Paola Ashton
    PRA Communications
    Telephone: 604-681-1407
    Email: pashton@pracommunications.com

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain “forward-looking statements”, which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward–looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.

    The MIL Network –

  • MIL-OSI USA: Cantwell Reintroduces Bipartisan Bill to Build More Affordable Housing Nationwide

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell
    04.29.25
    Cantwell Reintroduces Bipartisan Bill to Build More Affordable Housing Nationwide
    Proposed expansion of the Low-Income Housing Tax Credit would result in approximately 53,100 additional housing units and 80,400 jobs in WA over 10 years
    WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), senior member of the Senate Finance Committee and ranking member of the Senate Committee on Commerce, Science, and Transportation, reintroduced the Affordable Housing Credit Improvement Act, a bipartisan bill that would expand the existing Low-Income Housing Tax Credit (LIHTC) program and increase the number of affordable homes built in the United States.
    “Housing inflation is up 4% over the past year nationally and 4.5% in the Pacific Northwest – and that was before homebuilders reported an additional 5.5% increase in costs due to tariffs this year. We need to do more to lower housing costs for everyone. Expanding and improving the Low-Income Housing Tax Credit will do just that by making it more affordable to build homes and lower rents,” Sen. Cantwell said.
    “It’s time for Congress to meet the housing crisis with the bold solutions it demands and that starts with increasing housing supply. Our bill will deliver some much-needed relief to families by supporting existing, successful federal housing programs and building over one million new units of affordable housing. I am all in to bring down costs and make housing more affordable for everyone no matter your zip code,” said U.S. Senator Ron Wyden (D-OR).
    The bill was co-introduced by Sens. Cantwell and Todd Young (R-IN). It has 30 total original cosponsors, with an equal split of Democrats and Republicans.
    Since 1986, the Housing Credit has paid for 90% of the federally-funded affordable housing construction across the country, and has financed 4 million affordable homes, including more than 100,000 in Washington state. The National Association of Homebuilders (NAHB) reports that building materials have increased in cost by an average of 5.5% due to enacted or anticipated tariffs since January 2025, underscoring the urgent need for this legislation.  Moreover, according to NAHB, 60% of builders reported that as a results of tariffs, their suppliers have already increased or announced increases of material prices – with tariffs increasing the cost of a typical home by $10,900.
    The bill would support the financing of 53,100 new affordable homes in the State of Washington by:
    Increasing the amount of credits allocated to each state. The legislation would increase the number of credits available to states by 50 percent for the next two years and make the temporary 12.5 percent increase secured in 2018 permanent—which already helped build more than 59,000 additional affordable housing units nationwide. According to the Washington State Housing Finance Commission, this change would finance three additional shovel-ready housing properties in Washington this year – one in King County, one in a non-King County metro area, and one in a non-urban county.
    Increasing the number of affordable housing projects that can be built using private activity bonds. This provision would stabilize financing for workforce housing projects built using private activity bonds by decreasing the amount of private activity bonds needed to secure Housing Credit funding. As a result, projects would have to carry less debt, and more projects would be eligible to receive funding. According to the Washington State Housing Finance Commission, this improvement will double the number of affordable homes that can be built with this incentive. This would immediately green-light an additional 3,000 shovel-ready housing units in Washington evenly split between King County and the rest of the state.
    Improving the Housing Credit program to better serve at-risk and underserved communities. The legislation would also make improvements to the program to better serve veterans, victims of domestic violence, formerly homeless students, Native American communities, and rural Americans. 
    The bill would additionally generate 80,400 jobs and $9.07 billion in wages and business income in the State of Washington over the next decade.
    Sen. Cantwell has long advocated for the need to increase the availability of affordable housing and is the leading LIHTC advocate in the Senate. She previously introduced the Affordable Housing Credit Act in 2021 and in 2023, along with Rep. Suzan DelBene (D-WA, 01). Sen. Cantwell led efforts to build a bipartisan, bicameral coalition in support of that legislation. Last Congress, Sen. Cantwell’s legislation was joined by 308 Members – 58% of the entire Congress – including 170 Democrats and 139 Republicans.
    Since its creation, the Housing Credit has helped build or restore more than 100,000 affordable homes in the State of Washington. The economic activity that the credit generated has supported nearly 170,000 jobs and generated more than $19 billion in wages.
    Photos of Sen. Cantwell visiting housing developments across the State of Washington funded by the Low-Income Housing Tax Credit can be found HERE.

    MIL OSI USA News –

  • MIL-OSI USA: Murphy Op-ed For The Roosevelt Institute: A Good Life Starts In A Good Hometown

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    April 29, 2025

    WASHINGTON—U.S. Senator Chris Murphy (D-Conn.) on Tuesday authored an op-ed for the Roosevelt Institute examining how the American economic system’s consolidation of corporate power and economic opportunity in a handful of big cities has hollowed out local communities and disconnected millions of people from the relationships that give life meaning. Murphy argues that progressives must start rebuilding power, connection, and identity in the neighborhoods and hometowns where most Americans actually live and stand up to concentrated corporate power.
    “Study after study finds that, far more than money or career success, the quality of our relationships makes the most impact on our likelihood to feel happy and fulfilled. Those relationships start in our hometowns. At their best, the physical places we live—the town, the neighborhood, the block—are places where people are embedded in a thick web of ties to family and friends that helps form the core of their identity and builds community,” Murphy wrote. “The world is becoming more connected, and lots of opportunity comes with having immediate access to anything and everything, anywhere and everywhere. But it can also feel overwhelming to have no limits on your existence. The flood of never-ending inputs can be dizzying and disabling. Being identified as a “global citizen”—one grain of sand in a desert of 8 billion—feels empty and meaningless to many.”
    Murphy argued that most people want the ability to live a meaningful and secure life in their hometowns, without having to relocate to a few major cities to find success: “Most Americans are not willing to simply give up their local identity and become citizens of the world. And not everyone sees value in chasing professional achievement across the country. Many Americans say our culture should define success as building a decent life in the place you were raised—the place your family has roots—rather than being forced to move to find career reward. More than half of young adults live within 10 miles of where they grew up, but increasingly the base of the progressive movement is higher income and more mobile. As a result, we’ve become disconnected from what most Americans want—an economy and culture built around thousands of independent healthy places, rather than a nationalized economy and culture where opportunity is concentrated in a few major cities.”
    Murphy underscored how concentrated corporate power is destroying the social and economic ties that hold communities together: “Rebuilding local communities is less about turning the dials of government spending and more about unrigging the system of concentrated economic power that holds them down. Big companies are easily able to move money, markets, and jobs overseas, giving them an advantage over workers and families who cannot move so readily. Business leaders who use accounting gimmicks to raise profits are not focusing on the innovation and investment that creates good jobs and raises living standards. Monopolies drive the small shops that help form local commercial identity out of business. Big Tech firms tilt their platforms to accumulate more power and profits at the expense of small business, in-person connection, and local journalism. Corporations fight tooth and nail to keep local workers from forming connection through labor unions.”
    Murphy concluded: “Where are we left when so many Americans feel they have to choose between their hometowns and economic opportunity and increasingly cannot find connection through a meaningful relationship to the place they live? Americans have fewer friends than we used to. We spend more time alone. Roughly half of American adults say they are lonely. We trust each other less than before, and we are losing faith in each other as partners in democratic governance. In 1997, Pew found that 64 percent of Americans trusted the wisdom of the American people to make political choices; only 39 percent felt the same by 2019. Creating a society where more Americans can live a good life starts by rebuilding power, vitality, connection, and unique identity at the neighborhood and community level. That means standing up to concentrated power and instead siding with the people in neighborhoods and towns across America who are working to build a better life for their families and communities.”
    Read the full op-ed HERE.

    MIL OSI USA News –

  • MIL-OSI USA: Wicker, Feenstra Introduce Legislation to Continue Safe Exports of Agricultural Products in Event of Foreign Animal Disease Outbreak

    US Senate News:

    Source: United States Senator for Mississippi Roger Wicker
    WASHINGTON – U.S. Senator Roger Wicker, R-Miss., joined Congressman Randy Feenstra, R-Iowa, in introducing the Safe American Food Exports (SAFE) Act. This legislation would codify USDA’s role in negotiating regionalization agreements that allow livestock, poultry, and other animal products from unaffected areas of the country to be exported in the event of an animal disease outbreak. Although the U.S. Department of Agriculture (USDA) already works with the United States Trade Representative to develop these agreements, this legislation would establish regionalization agreements and promoting robust agricultural trade policies before any animal disease impacts our nation.
    This bill would also create a notification system within the Import and Export Library to prevent our producers from being impacted by changes in trade status of agricultural commodities and alert the proper agencies, organizations, and State Departments of Agriculture that there have been changes in import or export status.
    “Mississippi’s poultry exporters and producers have suffered during the bird flu. Animal diseases often cause trade disruptions, and the government should help protect American agriculture exports in these situations,” said Senator Wicker. “The Safe American Food Exports Act would help do that. The bill would give the USDA authority to negotiate regionalization agreements to ensure America’s agricultural producers are not shut off from the global market.”
    “Iowa farmers are the backbone of our economy and the breadbasket of our country and the world. However, an animal disease outbreak can be devastating for our producers, majorly disrupt trade with foreign countries, and close important export markets that our farmers depend on,” said Congressman Feenstra. “Understanding the dire financial and animal health consequences of a disease outbreak, I introduced the Safe American Food Exports Act so that we can negotiate comprehensive agreements with our trading partners and ensure that a disease outbreak in one part of the country does not impact Iowa’s ability to produce and export our agricultural goods. By working proactively on regionalization agreements and prioritizing farm biosecurity, we can safely ship our agricultural commodities around the globe, prevent massive trade disruptions, and mitigate the negative impacts of animal disease on our farmers, producers, and rural communities.”
    Joining Senator Wicker and Congressman Feenstra in introducing the SAFE Act are Senators Katie Britt, R-Ala., Tina Smith, D-Minn., Chris Coons, D-Del., and Congressman Jimmy Panetta, D-Calif. 
    Click HERE for bill text.

    MIL OSI USA News –

  • MIL-OSI USA: Padilla Statement on Trump’s First 100 Days

    US Senate News:

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

    WASHINGTON, D.C. — Today, U.S. Senator Alex Padilla (D-Calif.) issued the following statement on President Trump’s disastrous first 100 days in office:

    “Donald Trump has overseen the worst first 100 days of any president in modern history. In just 100 days, Trump has devastated federal programs and services that families in California and across the country rely on, tanked the stock market, pummeled Americans’ retirement funds, raised prices by waging an unnecessary trade war, terrorized immigrant communities, undermined due process, and has undone essential environmental protections that keep our air and water clean.

    “Trump and Elon Musk’s indiscriminate cuts to federal programs have real consequences, threatening the health care, Social Security, veterans’ benefits, and other critical services Californians depend on. Trump promised to lower costs, but since taking office, his policies have driven prices up on everything from food, to utilities, to prescription drugs. And the cruel Billionaire-first Budget he and Republicans are trying to jam through Congress will only further raise costs for millions of Americans while adding a historic amount to the federal debt — all to fund tax breaks for the ultra-wealthy.

    “On everything from the economy to immigration, Californians are seeing the impacts of Trump’s disastrous policies. Costs, chaos, and corruption are up, while our economy, consumer confidence, and the livelihoods of the American people are down — that’s the legacy of Donald Trump’s first 100 days. California deserves better and I will keep fighting to protect our communities from Trump’s callous attacks on our economy, environment, and core values.”

    MIL OSI USA News –

  • MIL-OSI USA: Padilla Joins Sanders and Over 100 Lawmakers in Reintroduction of Medicare for All

    US Senate News:

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

    Padilla Joins Sanders and Over 100 Lawmakers in Reintroduction of Medicare for All

    WASHINGTON, D.C. — Today, U.S. Senator Alex Padilla (D-Calif.) joined Senator Bernie Sanders (I-Vt.) and over 100 lawmakers in reintroducing the Medicare for All Act, historic legislation that would guarantee health care as a fundamental human right to all people in the United States regardless of income or background.

    Despite spending twice as much per person on health care as other wealthy nations, more than 85 million Americans are uninsured or underinsured, one out of every four Americans cannot afford their prescription drugs, over half a million people go bankrupt due to medically-related debt, and more than 60,000 die because they cannot afford to go to a doctor.

    “Every American deserves access to high quality, affordable health care, regardless of their zip code or tax bracket,” said Senator Padilla. “As the Trump Administration recklessly attacks essential public health services that millions of Californians and Americans across the country depend on, guaranteeing the fundamental right to health care is more important than ever. No American should go bankrupt because of medical costs, and Congress must do better to ensure that everyone has equitable access to care.”

    “The American people understand, as I do, that health care is a human right, not a privilege and that we must end the international embarrassment of the United States being the only major country on earth that does not guarantee health care to all of its citizens,” said Senator Sanders. “It is not acceptable to me, nor to the American people, that over 85 million people today are either uninsured or underinsured. Today, there are millions of people who would like to go to a doctor but cannot afford to do so. This is an outrage. In America, your health and your longevity should not be dependent on your wealth. Health care is a human right that all Americans, regardless of income, are entitled to and they deserve the best health care that our country can provide.”

    Under this legislation, Medicare would provide comprehensive health care to every American with no premiums, no co-payments, and no deductibles. It would also expand Medicare to include dental, hearing, and vision care, and it would give every American the freedom to choose their doctors without endless paperwork or fighting their insurance company. The Congressional Budget Office has estimated that Medicare for All would save our health care system $650 billion a year. Further, researchers at Yale University have estimated that Medicare for All would save 68,000 lives a year.

    Senator Sanders, Ranking Member of the Senate Committee on Health, Education, Labor, and Pensions (HELP), and Representatives Pramila Jayapal (D-Wash.-07) and Debbie Dingell (D-Mich.-06) lead the legislation. Including Senator Padilla, the legislation has 16 cosponsors in the Senate and 104 cosponsors in the House. The total number of cosponsors represents an increase from last Congress and also includes Senators Tammy Baldwin (D-Wis.), Richard Blumenthal (D-Conn.), Cory Booker (D-N.J.), Kirsten Gillibrand (D-N.Y.), Martin Heinrich (D-N.M.), Mazie Hirono (D-Hawaii), Ben Ray Luján (D-N.M.), Ed Markey (D-Mass.), Jeff Merkley (D-Ore.), Brian Schatz (D-Hawaii), Adam Schiff (D-Calif.), Elizabeth Warren (D-Mass.), Peter Welch (D-Vt.), and Sheldon Whitehouse (D-R.I.).

    “Nurses see the failure of our country’s profit-driven health care system every time we clock in to work,” said Nancy Hagans, President of National Nurses United. “In the richest country on earth, nobody should be forced to choose between taking their medications and putting food on the table. Yet countless families are pushed to the breaking point while greedy corporations charge astronomical, ludicrous fees for care that our patients have every right to receive. Nurses are fighting for a future in which our patients’ health is put first always and that’s why we are proud to continue our support for Medicare for All. When we guarantee health care for all, corporations and billionaires will no longer be able to deny anyone the care that they need.”

    “We are long overdue for a universal health care system that guarantees care for all — free of copays, deductibles, and job-based coverage restrictions,” said Dr. Diljeet K. Singh, M.D., Dr.P.H., and President of Physicians for a National Health Program. “With the passage of the Medicare for All Act, physicians can focus on healing patients, not battling insurers over denials and delays. Patients will finally be able to seek care without the constant fear of crushing medical bills. Physicians for a National Health Program proudly stands with our legislators in the fight to make excellent health care a reality for everyone in America.”

    “As Donald Trump, Robert Kennedy and Congressional Republicans rush to strip health care from millions of Americans, we know this: We must not only block their cruel cuts but move America to a system that provides health care to everyone as a matter of right,” said Robert Weissman, co-president of Public Citizen. “America spends much more than other wealthy countries on health care only to have the worst health outcomes. The system works for health insurers, Big Pharma, hospital chains and private equity firms – but no one else. Medicare for All would ensure everyone in America can get the care they need throughout their lives. It is the realistic, humane, just and efficient reform we need.”

    “Postal workers know the value of affordable, universal services, grounded in a commitment to putting people over profits. That’s the type of service we are committed to provide communities across the country, day in and day out,” said Mark Dimondstein, President of American Postal Workers Union. “For too long, greedy corporations and their Wall Street investors have been able to deny the people of the country the quality, affordable, universal health care working people deserve. Medicare for All, health care as a human right, will make us all healthier and financially better off. A health care system that works for working people, not the profits of the insurance companies, is long overdue. It’s time for Medicare for All.”

    “Health care should be a human right. But every time we negotiate with a boss for the right to see a doctor, they nickel and dime us until people have to choose between their health and putting food on the table,” said Shawn Fain, President of the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW). “We’re sick of having to go on strike just to have decent health care. We’re sick of corporate America asking us to give up raises, retirement security, or work-life balance at the bargaining table so working-class people can avoid medical bankruptcy. Our current health care system is a con job that only works for the billionaire class. Medicare for All is common sense, and it’s what the working class needs. The UAW is proud to support this bill.”

    “If you want to renew the public’s faith in our political system, pass the Medicare for All Act of 2025,” said Alan Minsky, Executive Director, Progressive Democrats of America. “This one piece of legislation will instantly end the era, which has lasted far too long, when profits and wealth accumulation are more important than human life, including yours. MFA will return the general welfare, and the well-being of every individual, to the heart of our social contract. That will renew faith in America.”

    “Health care is a right, not a privilege. The reintroduction of the Medicare for All Act is a crucial step toward ending a system that profits from people’s pain,” said Analilia Mejia and DaMareo Cooper, Co-Executive Directors of Popular Democracy. “Too many Americans are forced to choose between paying their rent and paying for life-saving medication, while corporations rake in billions. Medicare for All isn’t just a policy—it’s the lifeline working families desperately need. Our communities deserve a health care system that prioritizes people over profits. We will fight until we win the health care we deserve.”

    “Health care is a human right and a basic need. Yet instead of getting health care, Americans get delays, denials, and bills they cannot afford. Today, predatory insurance CEOs are poised to reap the windfall from the tax scam giveaways earmarked for billionaires and corporations. The oligarchs that put Donald Trump and Dr. Oz in power want everything we have. We get sicker, make impossible choices, and go broke. They boost the stock prices of corporations – like UnitedHealth – that profit off our pain, and buy more mansions and yachts. We can put an end to those warped priorities through Medicare for All,” said Sulma Arias, executive director of People’s Action Institute. “Working people have made this the wealthiest nation in the history of the world, and there is more than enough if we don’t let the corporate crooks and billionaires steal it. So it’s time to choose: Our health care or their greed?”

    Senator Padilla has long been a leader in the fight to make health care more equitable in the United States. Last year, Padilla, Senator Hirono, and Senator Booker introduced the Health Equity and Accountability Act (HEAA) of 2024 to address health disparities among racial and ethnic minorities as well as women, the LGBTQ+ community, rural populations, and socioeconomically disadvantaged communities across the United States. Additionally, Padilla and Booker introduced the Equal Health Care for All Act, bicameral legislation that would make equal access to medical care a protected civil right to help address the racial inequities and structural failures in America’s health care system.

    Full text of the bill is available here.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Community support for Auckland’s Annual Plan

    Source: Auckland Council

    Aucklanders have had their say on the 2025/2026 Annual Plan, with more than 13,000 pieces of feedback received during the recent consultation, and council hearing from individual Aucklanders, groups and organisations.

    This continues a trend of increased engagement with Auckland Council plans in recent years, with the latest feedback coming from a wide range of Aucklanders by age, ethnic group and parts of the region.

    The consultation, held in March, invited all Aucklanders to share their views on Auckland Council’s proposed Annual Plan 2025/2026.

    The draft plan focuses on delivering the second year of the Long-term Plan 2024-2034 and included an opportunity to consider the funding of events and destination marketing, and the priorities of local boards.

    The feedback shows support for the overall plan, including the bed night visitor levy concept and extending the refuse targeted rate to Franklin and Rodney areas. Feedback on each local board’s priorities will also be shared with those boards.

    Mayor Wayne Brown said submissions showed a majority support for the overall direction of the council’s annual plan.

    “This tells me that we’re on track with delivering what we said we would in the LTP. We are investing in every area we said we would while keeping rates as low as possible. In fact, the lowest for any metropolitan city in New Zealand.”

    Overall, the Annual Plan 2025-2026 consultation showed – of those individuals who addressed the plan overall – that 27 per cent support all of the proposed plan; 45 per cent support most of the plan; 15 per cent did not support most of it; 7 per cent do not support any of the plan and 6 per cent don’t know.

    A possible bed night visitor levy to help fund destination marketing and events was supported by 60 per cent of individuals who responded on the issue; 27 per cent did not support it; and 13 per cent submitted ‘other’ or ‘don’t know’.

    The majority of organisations and Māori which responded on the bed night visitor levy also supported it.

    Budget Committee chair Greg Sayers says it is great to see such a wide range of Aucklanders getting involved in giving feedback.

    “It’s positive to see Aucklanders taking the time to read our plans and give feedback on the aspects that are important to them. That can now be included in the decision-making process,” said Mr Sayers.

    “The feedback is a good representation of our communities – participation was spread across our local board areas and demographics, such as age and ethnicity.

    “While the Annual Plan 2025/2026 is all about delivering on the second year of our long-term plan, with no significant changes to investment or services, we wanted to check in with all Aucklanders to ensure the plan and priorities are on the right track.

    “We had 13,000 pieces of feedback, which is our second highest for an annual plan and the highest ever for the first year after a long-term plan. It’s the equivalent population of Oamaru or Te Awamutu having their say.”

    General feedback provided

    Many Aucklanders also took the opportunity to provide general feedback on other issues on their minds.

    Extending the refuse targeted rate to Franklin and Rodney saw 57 per cent of individuals who responded on this issue supporting it, 21 per cent not in support and 22 per cent submitting ‘other’ or don’t know.  The rate funds waste collection in most local boards.

    Many individual submitters in support of the overall plan offered additional feedback. Of those, 24 per cent of those individuals who submitted in favour of the overall plan and provided a comment cited the need for improved public transport and its funding; 19 per cent shared concerns on rates increases; and another 19 per cent highlighted the need to invest in core infrastructure.

    Organisations emphasised fairer community funding (including support for the fairer funding model for local boards and concerns about its redistributive effects), investment in infrastructure, and suggested greater community involvement in planning for the annual plan.

    So what’s in the proposed annual plan?

    The plan sets out the council’s proposed services and investments for the 2025/2026 year and how Auckland Council intends to pay for these, including a 5.8 per cent rates increase for the average value residential property, which is in line with the long-term plan.

    Feedback was also sought on major events and destination marketing for the region. To help cover a shortfall in funding that was outlined in the long-term plan, the council has been seeking a bed night visitor levy.  The levy would meet the shortfall and fund even more destination management, marketing and major events activities in Auckland.

    A fairer funding approach will begin to be phased in for the Annual Plan 2025/2026 to enable local boards to better respond to their communities, by addressing funding imbalances between the 21 local boards. Each local board’s priorities for the year were included in the Consultation Document.

    Proposed changes to targeted rates, fees and charges were set out in the consultation. This included extending the targeted rate for refuse to Franklin and Rodney. There are also some changes for fees relating to additional council services, such as dog adoption, cemetery and cremation, and bach fees.

    Information on the Annual Plan 2025/2026 is available at akhaveyoursay.nz/ourplan.

    The council’s Budget Committee and Governing Body will consider the Annual Plan in May and June, with the plan to be implemented for the financial year beginning July 1.

    Consultation feedback

    Summary of statistics:

    • 13,016 pieces of feedback:
      • 3001 at in-person events
      • 222 organisations
      • 13 mana whenua
      • 9 other Maori entities.
    • 9006 individual responses on the overall plan:
      • 27% support all of the proposed plan
      • 45% support most of the plan
      • 15% do not support most of the plan
      • 7% don’t support any of the plan
      • 6% don’t know.
    • 131 organisation responses on the overall plan:
      • 15% support all of the proposed plan
      • 66% support most of the plan
      • 12% do not support most of the plan
      • 2% don’t support any of the plan
      • 5% don’t know.
    • 13 mana whenua responses on the overall plan:
      • 2 support all of the proposed plan
      • 3 support most of the plan
      • 2 did not support most of the plan
      • 6 did not provide a clear stance on the plan overall.
    • 9 Maori organisations’ responses on the overall plan:
    • 6 support all of the proposed plan
    • 3 support most of the plan
    • 3 did not provide a clear stance on the plan overall.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Appointments – Banking Ombudsman Scheme gets three new directors

    Source: Banking Ombudsman Scheme

    The Banking Ombudsman Scheme is adding another director to its board and at the same time replacing two departing directors.
    Hon Heather Roy will become the board’s second independent director – along with chair Miriam Dean – following the recommendation of a recent review to add a sixth member to help ensure continued confidence in the impartiality of the scheme. The scheme’s constitution was amended late last year to enable the establishment of the new role.
    Simultaneously, Professor Jodi Gardner is replacing Kenina Court as one the board’s two consumer representatives, while Westpac Chief Executive Catherine McGrath takes over from ANZ Chief Executive Antonia Watson as one of the board’s two banking representatives.
    Ms Roy has been a professional director since leaving Parliament, where she served as Minister of Consumer Affairs in 2011. She was chair of Utilities Disputes Ltd until 2024.
    Professor Gardner is the Brian Coote Chair in Private Law at the Auckland Faculty of Law and her research focuses on the relationship between private law and social policy. She previously worked as a consumer advocate and a community lawyer specialising in consumer protection.
    Ms McGrath has more than 25 years’ experience in financial services.
    Ms Dean said the new additions would bring a wealth of expertise in governance, consumer rights, frontline banking and legal scholarship to the board’s decision-making.
    “The sector faces a variety of challenges, scam prevention, responding to financial hardship, access to services, open banking and new technology, and I am confident the new line-up will help the scheme contribute to resolving these challenges.”
    She said the three new members would start their duties at the next board meeting this month.
    About the scheme
    We offer a free and independent dispute resolution service. We look into complaints by customers about their banks. Sometimes we make formal decisions, but often we facilitate outcomes agreeable to the customer and the bank. We also offer information and guidance on banking matters.

    MIL OSI New Zealand News –

  • MIL-OSI USA: Tuberville Advocates for More Oversight at the VA

    US Senate News:

    Source: United States Senator Tommy Tuberville (Alabama)

    WASHINGTON – Today, U.S. Senator Tommy Tuberville (R-AL) participated in a Senate Veterans’ Affairs Committee (SVAC) hearing. During his remarks, Senator Tuberville advocated for alternative treatments for veterans who are suffering from PTSD, including Hyperbaric Oxygen Therapy. Senator Tuberville also called for more oversight of the Staff Sergeant Parker Gordon Fox Suicide Prevention Grant Program disbursed through the Department of Veterans Affairs (VA) to ensure our veterans are receiving the best care possible.

    The hearing featured several witnesses, including Jim Lorraine, President and CEO of America’s Warrior Partnership.

    Read excerpts below or watch the full clip on YouTube or Rumble.

    TUBERVILLE: “Good morning, everybody. Thanks for being here, and thanks for those of you that have served this great country. Thanks for your service. Since I’ve been on this committee now going on five years, we have not improved prevention of [veterans’] suicide. As a matter of fact, in a lot of areas it has gotten worse. I know in my state of Alabama, you know, you can throw all the money at it you want. But at the end of the day, it’s about attitude, it’s about the people that work in these hospitals and these care units that show care and humility for the veteran. I’ve had friends that have committed suicide. I’ve had friends that have almost committed suicide. It’s a sad state of affairs. But again, I think it’s more about people. We have to have people that’s gonna do the right thing. Veterans—there’s no area that we need to concentrate more in our country—other than, obviously, our economy and [other important] things that are going on—but the care of people that have put their life on the line for our country. Mr. Lorraine, [you have the] opportunity for oversight on these grants. Do we have enough oversight in your eyes for the grants that we’re putting out?” […]

    LORRAINE: “Thank you, Senator. I think if there is oversight, it’s not transparent. We do participate—America’s Warrior Partnership participates in all the meetings that the VA holds. We provide our reports. We just don’t know how we rack up against others, and we don’t understand where we are, you know, how we can improve what we’re doing. So, if the outcome of oversight is to change the process and improve the process, we’re seeing it a little bit. The technology system that the VA was using previously has improved greatly. But I would say it’s not exceeding expectations.” […]

    TUBERVILLE: “How can this VA and this administration stop the bad actors from taking these grants away from people [who] actually need these grants?”

    LORRAINE: “Well, sir, you know, there is an example of a grantee in the Northeast who was prosecuted for $50,000, taking $50,000 from the grant. I think that type of oversight is needed. We just went through our audit. We did very well with it. But I think more audits—I hate to say that—but, I mean, I think more audits for organizations with clear guidelines that don’t just look at ‘how many hours are you spending doing the work,’ but ‘what are the outcomes of the work that you’re doing?’”

    Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP and Aging Committees.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Financial education will help disadvantaged kids succeed

    Source: ACT Party

    ACT’s Education spokesperson Laura McClure has welcomed the Government’s move to embed financial education into the school curriculum for Years 1 to 10, saying it will make a real difference – especially for disadvantaged students.

    “Every young Kiwi should leave school equipped to navigate a market economy. Knowing how to earn, save, budget, and invest is an essential part of being successful in a civilised society,” says McClure.

    “For students who don’t learn these lessons at home, financial education can be life-changing. It gives every student, no matter their background, a better footing to succeed later in life.

    “These curriculum changes are part of a broader shift to refocus education on real-world skills instead of ideology. I’m proud to be part of a Government that is taking politics out of the classroom and putting practical skills back in.

    “Financial literacy is a great equaliser. The left should welcome a reform that lifts disadvantaged students up, rather than dragging everyone else down.”

    MIL OSI New Zealand News –

  • MIL-OSI China: Chinese official calls for enhancing Shanghai’s role as international financial center

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

    Chinese official calls for enhancing Shanghai’s role as international financial center

    SHANGHAI, April 29 — Senior Chinese official He Lifeng on Tuesday called for the comprehensive enhancement of Shanghai’s capabilities as an international financial center.

    He, a member of the Political Bureau of the Communist Party of China Central Committee and director of the office of the Central Financial Commission, made the remarks while attending a symposium on supporting Shanghai to build itself up as an international financial center.

    He emphasized that the city’s functions as a gateway to and hub of financial opening-up should be strengthened continuously under the premise of ensuring financial security, and its status as both a global allocation center for RMB assets and a risk management center should be enhanced.

    Shanghai Municipality should assume its primary responsibility, He said, adding that financial regulatory authorities and financial institutions — especially those in Shanghai — should enhance coordination and cooperation.

    MIL OSI China News –

  • MIL-OSI USA: Opening of New Utica Children’s Museum

    Source: US State of New York

    overnor Kathy Hochul today announced the completion of construction and dedication of the new $8 million Utica Children’s Museum, which is part of an overall $14 million ICAN Family Resource Center project. The 14,000 square foot museum features exhibits designed as exciting play-based experiences with many benefits to children — from school readiness and career exposure to increased socialization and quality time with family and friends. In addition to the Governor’s grant of $750,000 from state capital funding sources to support the Utica Children’s Museum, Empire State Development provided more than $1 million in capital funding through the Market New York program and the New York State Council on the Arts provided a $300,000 capital grant.

    “The Utica Children’s Museum is a place where families can gather and watch their children thrive, and I am proud to celebrate this wonderful space for the Mohawk Valley,” Governor Hochul said. “These exciting exhibits and additions to the project will become an important extension of the community — families and children from across the region will experience the new museum together and create a welcoming environment for many years ahead.”

    Utica Children’s Museum Executive Director Meghan Fraser McGrogan said, “Today marks an incredible milestone not just for the Utica Children’s Museum, but for our entire community. We are so excited to celebrate the hard work of our team and all of our partners who made this project possible. We have thoughtfully designed this museum to be an inclusive, welcoming and inspiring environment for children to learn and grow. Our new museum is truly a place where families can come together to play, learn and create lasting memories. Thank you Governor Kathy Hochul and Commissioner Hope Knight for your unwavering support and investment in our vision.”

    The exhibits in the Utica Children’s Museum reflect the community and showcase its diversity, industries, and many other features that are a source of pride for Mohawk Valley residents. While exhibit testing is currently being completed, the museum will officially open its doors to the public on May 1. The museum has embraced Universal Design principles from conception through completion, to ensure that all visitors, regardless of ability, will have a comfortable and enriching experience. Every exhibit within the museum has been thoughtfully designed to serve a specific purpose, with attention to eliminating barriers that are often overlooked in traditional museum layouts.

    Located within the Integrated Community Alternatives Network (ICAN) Family Resource Center at 106 Memorial Parkway, the completely reimagined museum features a 4,000 square-foot Rotunda and a renovated 10,000 square-foot second floor, showcasing six galleries and 60 custom-fabricated exhibits. These new spaces have been designed with the community in mind, inviting visitors to “Love Where You Live!” and explore what makes the region unique-its rich cultures, four seasons, STEAM industry, food, music and more.

    The new museum is part of a larger project of ICAN — the development of a first-of-its-kind Family Resource Center that houses ICAN family-based programs, a community room available for other organizations, and the museum.

    With over 60 years of history, the Utica Children’s Museum is one of the oldest children’s museums in the country. The year-round destination creates an entirely new experience for visitors and families in the Mohawk Valley. It features multiple play zones, including:

    • The Climber: Two stories of physical challenges and safe risk taking to build confidence.
    • The Meeting Place: Flexible common space to orient groups, hold programs, and enjoy the Climber.
    • World Market: Experience culture, languages, art, games and more in this global gallery.
    • Build It Up: A destination for the hands-on maker and builder in every child.
    • Let’s Experiment: STEAM-based challenges that focus on creativity and problem-solving skills.
    • Seasons: Celebrate the weather changes we experience throughout the year.
    • The Cove: An oasis of calm to wind down and promote the importance of pausing.
    • Multi-Purpose Rooms: Versatile space with overhead doors that can be used in full or divided into two rooms.

    The Utica Children’s Museum was officially dedicated in gratitude to all of the public, private and corporate entities and individuals who helped bring this community vision to life.

    Empire State Development President, CEO and Commissioner Hope Knight said, “Having a first-rate children’s museum in Utica opens up a whole new world of exploration to families while providing an economic boost to the entire Mohawk Valley region. Children and families from all over New York and beyond, regardless of socioeconomic status, will benefit from the opportunity to engage in hands-on play that sparks the imagination. This all-about-fun museum is a great addition to the community and one in which the ESD is extremely proud to have played a role.”

    DASNY President and CEO Robert J. Rodriguez said, “DASNY is proud to administer capital grant funding for the fabrication and installation of interactive exhibits that will engage young minds in the new Utica Children’s Museum. This innovative facility represents a powerful investment in the future of Mohawk Valley families, giving children access to educational experiences that foster creativity, problem-solving, and cultural appreciation. We’re pleased to support Governor Hochul’s commitment to developing world-class educational resources that not only enrich children’s lives but also contribute to the economic vitality of communities across New York State.”

    Empire State Development Vice President and Executive Director of Tourism Ross D. Levi said, “Capital grants awarded through the Market New York program help to create unique and vibrant attractions like the Utica Children’s Museum that welcome residents and visitors alike. ‘I LOVE NY’ looks forward to promoting the museum as one of the latest family friendly attractions that makes it so easy to love New York.”

    Executive Director of the New York State Council on the Arts Erika Mallin said,“Projects like these strengthen New York State’s rich cultural heritage, enrich the prosperity of the community, and engage our visitors, our families and our youngest learners. The New York State Council on the Arts is proud to support the Utica Children’s Museum and congratulate the team on this incredible accomplishment.”

    State Senator Joseph Griffo said, “I am pleased that the Utica Children’s Museum has been completed and thank ICAN and all their partners for their work on this project. This interactive, family-friendly space will promote play, inspire creativity, encourage discovery and strengthen family bonds throughout the region.”

    Assemblymember Marianne Buttenschon said, “I look forward to all the great opportunities that the Children’s Museum has to offer our community. The leadership and staff have worked endlessly to make the museum a reality. I was honored to provide funding for this great innovative museum, and I further appreciate the Governor’s generous financial support. It is evident that the Governor understands the importance of this valuable community asset and how it will benefit the Mohawk Valley.”

    Assemblymember Marianne Buttenschon secured an additional $125,000 in funding through the FY 2024 Executive Budget.

    Utica Mayor Michael Galime said, “The opening of the Utica Children’s Museum is a shining example of what our community can accomplish when we come together to invest in our future. Whether it was through a financial contribution or the sharing of ideas, I want to sincerely thank everyone who helped make this incredible space a reality. I look forward to creating memories here with my own family and seeing generations of children and families enjoy it for years to come.”

    Oneida County Executive Anthony J. Picente Jr. said, “The opening of the new Utica Children’s Museum marks an exciting milestone for our community and for families across Oneida County. We are proud to have invested $500,000 in the museum’s incredible climber exhibit—an innovative space that will spark curiosity, encourage hands-on learning, and inspire the next generation. This facility will be a cornerstone of childhood development, offering opportunities for school readiness, career exploration, and meaningful family engagement. I applaud ICAN and all our state and local partners for bringing this extraordinary vision to life.”

    Learn more about the Utica Children’s Museum here.

    About Empire State Development

    Empire State Development is New York’s chief economic development agency, and promotes business growth, job creation, and greater economic opportunity throughout the state. With offices in each of the state’s 10 regions, ESD oversees the Regional Economic Development Councils, supports broadband equity through the ConnectALL office, and is growing the workforce of tomorrow through the Office of Strategic Workforce Development. The agency engages with emerging and next generation industries like clean energy and semiconductor manufacturing looking to grow in New York State, operates a network of assistance centers to help small businesses grow and succeed, and promotes the state’s world class tourism destinations through I LOVE NY. For more information, please visit esd.ny.gov, and connect with ESD on LinkedIn, Facebook and X, formerly known as Twitter.

    MIL OSI USA News –

  • MIL-OSI Security: Miami Man Sentenced to 15 Years in Prison for Leading Payment Protection Program Fraud Scheme

    Source: Office of United States Attorneys

    MIAMI – Lazaro Verdecia Hernandez, 37, of Miami, was sentenced today to 15 years in federal prison for leading a scheme that involved obtaining fraudulent loans under the Paycheck Protection Program (PPP) and laundering the proceeds. 

    Verdecia and co-conspirator Heidi Cid submitted over 63 fraudulent PPP loan applications. In the loan paperwork, they made the applicants appear eligible for pandemic relief by falsifying the number of company employees and forging documents. As a result of the fake submissions, lenders disbursed over $14.5 million to bank accounts controlled by individuals who then withdraw the money and gave Verdecia, Cid, and another co-coconspirator, Yadier Rodriguez Arteaga, their cut.

    During earlier proceedings, Arteaga and Cid were adjudicated guilty and sentenced to federal prison terms: Arteaga to almost six years and Cid to 26 months.

    U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida; Special Agent in Charge Rafael Barros for the U. S. Secret Service (USSS); Special Agent in Charge Edwin S. Bonano for the Federal Housing Finance Agency, Office of Inspector General (FHFA OIG); and Special Agent in Charge Amaleka McCall-Brathwaite, U.S. Small Business Administration Office of Inspector General (SBA OIG), Eastern Region, made the announcement.

    USSS Miami and FHFA OIG investigated the case with the assistance of the U.S. Small Business Administration Office of Inspector General (SBA OIG), Eastern Region. Assistant U.S. Attorneys Thomas Haggerty and Eli Rubin prosecuted the case.  Assistant U.S. Attorney Sarah Klco is handling asset forfeiture.

    The following cases were previously charged in relation to the fraud scheme:

    • U.S. v. Roberto Lopez, Kenia Carrillo, Lester Hedman Safont, Oreste Ruiz Linares, Honolio Navarro Caballero, Barbara Alvarez, Javier Pico, Alfredo Contrera, and Erisbel Gonzalez Gomez, Case No. 22-cr-20368; 

    • U.S. v. Nancy Bahos Serna, Case No. 23-cr-20310;

    • U.S. v. Jorge Trueba Lopez, Case No. 21-cr-20382;

    • U.S. v. Nancy Saavedra Torres, Case No. 21-cr-20225;

    • U.S. v. Giraldo Caraballo, Case No. 21-cr-20264;

    • U.S. v. Felix Martinez and Yailin Perez, Case No. 21-cr-20276;

    • U.S. v. Yoliesse Sarmiento Carrion, Case No. 22-cr-20530;

    • U.S. v. Osiel Rodriguez Furgel, Case No. 21-cr-20251; and

    • U.S. v. Leonardo Gonzalez Lopez, Case No. 23-cr-20113.

    Each of these defendants pled guilty, except for Javier Pico and Erisbel Gonzalez Gomez who are fugitives.

    Approximately 22 people were charged and convicted in the conspiracy.

    In March 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted. It was designed to provide emergency financial assistance to the millions of Americans suffering the economic effects caused by the COVID-19 pandemic. Among other sources of relief, the CARES Act authorized and provided funding to the SBA to provide Economic Injury Disaster Loans (EIDLs) to eligible small businesses, including sole proprietorships and independent contractors, experiencing substantial financial disruptions due to the COVID-19 pandemic to allow them to meet financial obligations and operating expenses that could otherwise have been met had the disaster not occurred.  EIDL applications were submitted directly to the SBA via the SBA’s on-line application website, and the applications were processed and the loans funded for qualifying applicants directly by the SBA.

    On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by, among other methods, augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts. For more information on the Department’s response to the pandemic, please visit https://www.justice.gov/coronavirus.

    On Sep. 15, 2022, the Attorney General selected the Southern District of Florida’s U.S. Attorney’s Office to head one of three national COVID-19 Fraud Strike Force Teams. The Department of Justice established the Strike Force to enhance existing efforts to combat and prevent COVID-19 related financial fraud. For more information on the department’s response to the pandemic, please click here.

    Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

    You may find a copy of this press release (and any updates) on the website of the United States Attorney’s Office for the Southern District of Florida at https://www.justice.gov/usao-sdfl.

    Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov under case number 23-cr-20421.

    ###

    MIL Security OSI –

  • MIL-OSI United Nations: Deputy Secretary-General’s remarks at the closing of the 2025 ECOSOC Forum on Financing for Development [as prepared for delivery]

    Source: United Nations secretary general

    H.E. Mr. Bob Rae, President of ECOSOC, Excellencies, Dear Colleagues,

    As we conclude this year’s Financing for Development Forum, I will not offer a summary – but rather sound an urgent call to action, as we consider the critical decisions ahead of us in the FfD4 process.

    Tomorrow marks the beginning of the fourth preparatory committee session, followed by the second intersessional to advance negotiations on the outcome document.

    The renewed global financing framework that we are about to deliver has to meet the scale and urgency of the moment.

    Over the past two days, we have heard, again and again, that we are in the midst of a development crisis.

    At its core, exacerbated by geopolitical tensions, lies a chronic failure of the global financial system to deliver adequate, equitable, and predictable financing to those who need it most.

    Yet if we act with determination and solidarity, the Sevilla conference can mark a historic breakthrough.

    As we’ve heard, we must deliver a more effective, inclusive, and responsive financing system – one that moves resources towards clear outcomes, and delivers real results on the ground.

    This means aligning financial flows with real development gains – and ensuring they reach the communities, countries, and sectors where the needs are greatest.

    We also need to change how we think about financing.

    It cannot be fragmented.

    Financing must be a catalyst for transformation – designed to put economies onto more sustainable, equitable, and resilient pathways.

    And it should reflect the leadership and priorities of developing countries – placing them at the center of decision-making.

    Their role is not to follow, but to shape the agenda – and their future – through fair access to resources and enhanced capacity to thrive in the global economy.

    Encouragingly, the draft outcome document already points in the right direction.

    It includes proposals for expanding the role of public development banks, reducing the cost of capital, scaling up liquidity management support, and reinforcing the global financial safety net.

    It also sets out critical reforms to the international debt architecture and calls for more inclusive and representative global economic governance.

    But turning these reforms from paper to practice will require your continued leadership and engagement.

    I invite you to take part in the Sevilla Platform for Action – which brings together governments and other key stakeholders to launch high-impact initiatives aligned with the outcome of the conference.

    These efforts should be forward-looking, grounded in the UN Charter, and built around clear goals, concrete timelines, and dedicated resources.

    The submission window will open on May 1st.

    I encourage you to lead, to partner, and to mobilize.

    Let us turn commitments into coalitions – and ideas into implementation.

    Sevilla must be more than a conference.

    It must be a turning point – towards a new chapter in financing for development. Let’s seize this opportunity together.

    Thank you.

    MIL OSI United Nations News –

  • MIL-OSI USA: King Delivers his Own ‘Declaration of Conscience’ Nearly 75 Years after Former Maine Senator Margaret Chase Smith

    US Senate News:

    Source: United States Senator for Maine Angus King
    To watch the floor speech, click here
    WASHINGTON, D.C.— U.S. Senator Angus King (I-ME) today spoke on the Senate floor to commemorate the 75th anniversary of former U.S. Senator Margaret Chase Smith’s (R-ME) ‘Declaration of Conscience’ speech. The speech, delivered on June 1, 1950, would be the defining moment in which a Republican stood up to her own party in defense of American democracy.
    More specifically, King called on his colleagues in both parties to remember her legacy and “…stop thinking politically as Republicans and Democrats about elections and start thinking patriotically as Americans about national security based on individual freedom. It is high time that we all stopped being tools and victims of totalitarian techniques-techniques that, if continued here unchecked, will surely end what we have come to cherish as the American way of life.”
    More on former U.S. Senator Margaret Chase Smith can be found here. The original Declaration of Conscience speech transcript can be found here.
    The full transcript of Senator King’s floor speech from this afternoon is below.
    +++
    Mr. President,
    Almost 75 years ago, the junior Senator from Maine rose in this chamber to deliver a speech from her heart about a crisis then facing our country, a crisis not arising from a foreign adversary but from within.
    A crisis that threatened the values and ideals at the base of the American experiment. Senator Margaret Chase Smith’s ‘Declaration of Conscience’ turned out to be one of the most important speeches of the Twentieth Century and defined her for the ages as a person of extraordinary courage and principle. Here she is with her famous red rose which always wore on her lapel.
    Now, I should admit up front that I worked for the candidate Bill Hathaway who defeated Smith in 1972, but Smith and I made it up years later when I was producing a documentary on her life for Maine PBS. In fact, as we began the project, I was so worried that she might resent my having worked for her opponent, so I sent her a letter confessing my role in her last campaign.
    Her response was pure Margaret Smith:
    “Dear Angus King, it is perfectly alright with me that you once worked for Mr. Hathaway. Yours sincerely, Margaret Chase Smith.”
    Simple as that. In working together on the documentary, she shared some fascinating background on the famous speech, including that she drafted it by hand at her kitchen table in her hometown of Skowhegan, Maine over Memorial Day weekend of 1950.
    After returning to Washington a couple of days later, she steeled her resolve and headed to the Senate floor. As luck would have it, when she got in the trolly from the Russell building, there next to her sat Senator Joe McCarthy who was the subject of the speech.
    “Why are you looking so serious, Margaret?” he asked. “Because I’m on my way to make a speech, Joe, and you’re not going to like it.”
    Smith told me that she was so nervous about the speech and the breach it would make in her relationship with Senator McCarthy—this was the height of the Red Scare of the early fifties, remember—that she told her chief aide, Bill Lewis, who was up in the press gallery, not to hand out the copies of the speech to the press until she started speaking on the floor, because she was afraid she might lose her nerve.
    But she went through with it, and the rest is, quite literally, history.
    Here is how Margaret Chase Smith began that speech—
    “Mr. President, I would like to speak briefly and simply about a serious national condition. It is a national feeling of fear and frustration that could result in national suicide and the end of everything that we Americans hold dear. It is a condition that comes from the lack of effective leadership either in the legislative branch or the executive branch of our government.”
    Remember these are Margaret Chase Smith’s words 75 years ago. She continued,
    “I think that it is high time for the United States Senate and its members to do some real soul searching and to weigh our consciences as to the manner in which we are performing our duty to the people of America and the manner in which we are using or abusing our individual powers and privileges.”
    Later in the speech, here is one of her conclusions,
    “It is high time that we stopped thinking politically as Republicans and Democrats about elections and started thinking patriotically as Americans about national security based on individual freedom.”
    I think that’s very important Mr. President. She said,
    “It is high time that we stopped thinking politically as Republicans and Democrats about elections and started thinking patriotically as Americans about national security based on individual freedom. It is high time that we all stopped being tools and victims of totalitarian techniques – techniques that, if continued here unchecked, will surely end what we have come to cherish as the American way of life.”
    Senator Smith’s speech had plenty of criticism of the Democratic Administration of that time, but the real focus of her urgent plea to her colleagues was the actions of Senator Joseph McCarthy (whom she never mentioned by name) who had embarked upon an anti-communist crusade in a manner that threatened the principles of free speech and the rule of law embedded in our values as a nation—and in our Constitution. In other words it wasn’t McCarthy’s anti-communism she objected to, it was the manner in which he carried it out.
    Mr. President, I fear that we are at a similar moment in history. And while today’s ‘serious national condition’ is not involving the actions of one of our colleagues, it is involving those of the President of the United States.
    Echoing Senator Smith, today’s crisis should not be viewed as a partisan issue; this is not about Democrats or Republicans, or immigration or tax policy, or even the next set of elections; today’s crisis threatens the idea of America and the system of government that has sustained us for more than two centuries.
    Again, this is not about the President’s agenda (although yes, I disagree with most of it), it’s about the manner in which he is pursuing it—which includes ignoring the Constitution and the rule of law—and it’s this roughshod non-process that endangers all of us, his detractors and supporters alike.
    What’s at stake is simple and, in fact, was the driving force behind the basic design of our Constitution—the grave danger to any society is the concentration of power in one set of hands. 
    The paradox at the heart of the structure of any democratic government is that power is given to the government to protect and serve the people, but at the same time the people must be protected from that same power being used against them. Madison put it clearly in the 51st Federalist:
    “But what is government itself, but the greatest of all reflections on human nature? If men were angels, no government would be necessary. If angels were to govern men, neither external nor internal controls on government would be necessary. In framing a government which is to be administered by men over men, the great difficulty lies in this: you must first enable the government to control the governed; and in the next place oblige it to control itself. A dependence on the people is, no doubt, the primary control on the government; but experience has taught mankind the necessity of auxiliary precautions.”
    Precautions that go beyond regular elections. And the most important of those “auxiliary precautions” is the explicit separation of powers between the executive and the legislature, at the heart of our Constitution better known as checks and balances. My fear is this phrase has become such a cliche that we don’t recognize it as the fundamental premise of our Constitutional system.
    There’s nothing new about the recognition of the danger of concentrated power; the ancient Romans summed it up with a question: “Quis custodiet, ipsos custodes?” or “Who will guard the guardians?”
    Another way to put this is a universal principle of human nature, “All power corrupts, and absolute power corrupts absolutely.”
    It’s important to emphasize that the danger I am describing isn’t based upon institutional jealousy, a loss of the prerogatives of the Senate, or the politics of Democrats and Republicans; it’s about the violation of the very deliberate division of power between the legislature and the executive which as I said is the heart of the Constitution. It’s there for a reason to see that power is not concentrated in one set of hands. It is the most important bulwark between our citizens and—let’s call it what it is—tyranny.
    Again, Madison warned us in no uncertain terms, this time in the 47th Federalist:
    “The accumulation of all powers, legislative, executive, and judiciary, in the same hands . . . may justly be pronounced the very definition of tyranny.” Madison’s word, “Tyranny.” And later in the same essay, “There can be no liberty where the legislative and executive powers are united in the same person.” 
    “There can be no liberty where the legislative and executive powers are united in the same person.”
    And yet, this “accumulation of all powers” is exactly what is happening today, before our very eyes. Although many in this body unfortunately seem determined to ignore it, deliberately ignore it, the evidence is everywhere: from the elimination of Congressionally-established agencies to the withholding of appropriated funds (an appropriations bill is a law, by the way. It is not a suggestion to the executive about where he or she should spend money, but a law) to issuing executive orders purporting to be law in place of legislation to sidestepping if not ignoring court orders:
    This President is engaged in the most direct assault on the Constitution in our history, and we in this body, at least thus far, are inert—and therefore complicit.
    It’s worth pausing for a moment to look at the terms of Article II which outlines the powers and responsibilities of the President. At the outset, it must be remembered that the Declaration of Independence was directed specifically at the depredations of the British King, and later, that the Framers had recently come through a brutal eight-year war against that same king. It is clear that a monarchy was exactly what the Framers were trying to avoid in the structure of the new government and it explains the limited powers granted to the President in Article II.
    So, let’s look at Article II. In light of this anti-monarchical intent, Article II only gives the President one-and-half unilateral powers—the power to issue pardons and the role of Commander-in-Chief of the Armed Forces in wartime, but even this latter is constrained by the reservation to the Congress of the power to declare war.
    With these two exceptions, all the other powers granted to the President—appointment of judges and federal officials, making treaties with other countries, vetoing legislation—are all bounded in some respect by the requirement of Congressional assent. I want to repeat, Article II is not a broad grant of authority to the president, it is anything but. It’s a restriction on the powers of the president.
    And here is the most important phrase in Article II. The principal responsibility of the President, however, is spelled out explicitly in Article II—the chief executive “shall take care that the laws be faithfully executed.”
    It doesn’t say that only the laws he agrees with, or that he has any power whatsoever to make laws; his job is simply to execute the laws passed by Congress, without exception—a responsibility this President is spectacularly failing to meet. To take care that the laws be faithfully executed.
    And while this is the most serious breach of our Constitutional order, the Administration has also taken a series of apparently unconnected actions, which, taken together, spell out our rapid path toward one-man rule, or tyranny as Madison would say.
    In the style of the Declaration of Independence, here’s a partial list, only where the Declaration says “he” it’s referring to the King as the King of England; “he” as used in my list, however, refers to the President:
    He has enabled the random firing of personnel throughout the government without regard to the importance of the job or the qualifications of the individual, which has severely compromised the ability of the affected agencies to carry out the purposes Congress intended, the very antithesis of faithfully executing the laws; the very antithesis of faithfully executing the laws.
    He has enabled the dismemberment of agencies providing essential services to the American people, most particularly in the Social Security and Veterans Administrations, by people who literally don’t know what they are doing, again in violation of his responsibility to faithfully execute the laws creating those agencies and programs;
    He has systematically, early in the Administration, fired independent Inspectors General throughout the government—whose job it is to find fraud, corruption and malfeasance in agency programs—in clear violation of federal law and apparent intent to govern without constraints;
    He has used the power of the government to threaten, intimidate, and extort private law firms for the supposed offense of representing clients he doesn’t like, an exercise of governmental power nowhere found in the Constitution, and a clear violation of the very structure of our legal system;
    He has used the power of the government to threaten and intimidate former government officials based upon actions and statements with which he disagrees, thereby sending the message throughout the government that pleasing the President is more important than telling the truth. Again, he has no such power under the Constitution, and the result of this abuse of his office is the opposite of faithfully executing the laws;
    He has openly threatened media platforms—particularly television networks—with license revocation or other punishment for airing content he doesn’t like, in clear violation of the First Amendment, one of the fundamental bulwarks of our freedoms. For a president of the United States to threaten a media firm with revocation of their license or other forms of punishment for content he doesn’t like, that’s the antithesis of the First Amendment. The compromise of the free press has been a sign of incipient despotism throughout history—right up to the present day;
    He has used the power of the government (including the impoundment of Congressionally appropriated funds and threatening tax-exempt status) to threaten and intimidate private universities in order to force them to adopt policies to his liking, again, a power found nowhere in the Constitution, nowhere in Article II;
    He has enabled a national program of arrest and deportation of individuals in this country with no due process whatsoever, and even when it is admitted that at least one such individual was sent to a foreign prison by mistake, he has refused to make any effort to return that person to his home despite court orders—including an unanimous order of the United States Supreme Court—that he do so; this entire process is a violation of the Fifth, Sixth, Eighth, and Fourteenth Amendments and certainly isn’t consistent with his obligation to faithfully execute the laws.
    He has openly suggested the possibility of sending U.S. citizens to a foreign prison for undefined crimes, thereby placing them outside the reach of our criminal justice system, including the Constitutionally guaranteed right to counsel;
    He has abused the limited powers delegated to him by Congress in connection with tariffs and trade by declaring emergencies where none exist and single-handedly plunging our economy into chaos and risk of inflation, unemployment, and possible recession—a perfect example of the dangers of one-man rule. The Constitution specifically delegates to the congress in Article I, Section VII, Clause III, the power over trade and commerce among Nations. Congress delegated that power to the president under certain limited circumstances, that of an emergency, not that a president can define an emergency however he wants. I live in Maine. We are on the border of Canada. There is no emergency that justifies the imposition of tariffs with Canada. If he wants to propose a tariff against Canada, Britain, or any other country, he should come here because that’s our responsibility. We should debate it and chances are we would come up with a more rational solution than the one the made several weeks ago;
    He has attempted to cut off funds to a single state—my own—because he took personal umbrage at our Governor’s refusal to bend to his policy preference which was inconsistent with the law of our state. Our Governor’s position was not on the issue of trans-athletes, it was on the issue of state and local control. The basic bedrock of our representative form of government.
    Tellingly, during that exchange, he said, “We are the law,” a statement more suitable to a king and one which is wholly inconsistent with our form of government. By the way, Mr. President, an Executive Order is not law despite what the President seems to think. This “We are the Law” comment is a clear statement of an intent to govern as a sovereign without regard to the Constitution or the rule of law;
    In a field that I have some special knowledge of, he has compromised national security by dismantling those agencies charged with defending our nation against the clear and present danger of cyber-attacks and firing many of those individuals—with no stated cause—who are best suited to mount such a defense;
    He has further compromised national security by alienating our allies with his unlawful and indiscriminate imposition of tariffs which has severely undermined confidence in our country, again acting far in excess of the limited power over trade delegated by Congress. Mr. President, I have served for the past 12 years on Intelligence and Armed Services, and I have come to realize that our asymmetric advantage in the world is allies. China has customers, we have allies. To alienate our allies, without good reason, with no emergency, with no consultation with congress, with no consultation with the Foreign Affairs committee, with no consultation with anybody as far as I can tell, is a serious compromise of our national security, both in terms of our intelligence capabilities, but also who will come our aid in a time of trouble
    Mr. President, this is not a complete list, but it does present a disturbing and dangerous pattern—that this President is attempting to govern as a monarch, unbound by law or Constitutional restraint, not as a President subject to the constraints of the Constitution and the rule of law.
    Again, this not about his policies—whether they be mass deportations or trans athletes, trade and tariffs, or the appropriate levels of staffing in the federal government—no, the issue before us—and we can no longer avoid it—is the manner in which he is pursuing those policies which violates both the spirit and the express terms of our founding document.
    And again, this is not about observing the boundaries prescribed by the Constitution just to check the appropriate boxes; this is about observing those boundaries to protect ourselves and our people from the abuse that inevitably—inevitably—flows from the unbridled concentration of power.
    To those who like the policies of the President and are therefore willing to ignore the unconstitutional means of effectuating them, I (and history) can only say, watch out:
    Today, the target may be the undocumented or federal workers, but tomorrow (perhaps under a different King-President), it could be you.
    Once this power is concentrated into one set of hands, it’s going to be very difficult to get it back and it can turn that power against anybody who displeases the monarch. So what can we do? What are the guardrails and how can we buttress and support them?
    The first guardrail is the Congress itself, the part of our government actually empowered to define policy, appropriate funds, and oversee the actions of the executive. But unfortunately, the majority in Congress has thus far wholly abdicated these fundamental responsibilities and, thus far, has shown little inclination to even recognize the danger, let alone take action to confront it.
    We could reclaim our power, however, by pulling back the trade authority (there’s a bill to do that), instituting vigorous oversight of the activities of DOGE to determine to what extent their actions compromise congressional intent, or holding the President’s nominees and his prized tax bill until he ceases his attempts to make policy unilaterally, including impounding congressionally authorized and appropriated funds. 
    You know, do our job.
    The second guardrail is the courts which are generally holding up their end of the Constitutional bargain, but they read the press just as we do and need to know that we are ready to reassume our powers and responsibilities. As easy as it may be for us to rely entirely on the courts to save us, that’s a cop-out; reclaiming power must be a joint project.
    The final guardrail is the people, who more and more are speaking up—in rallies, in correspondence with us, in town meetings, and in conversations at the grocery store.
    But their only real power, the midterm elections, don’t happen for 19 months, and in the meantime, the burden falls back to us.
    I don’t think we have 19 months; given what’s happened in the first 100 days, we need to act now, before the awesome power of the United States’ government is consolidated into one set of hands. When that happens, there may be no going back. 
    No, we can’t escape the responsibility of our oath. Each of us swore, swore mind you, to “support and defend the Constitution of the United States against all enemies, foreign and domestic;” [and that we would] “bear true faith and allegiance to the same.” The same being the Constitution.
    Clearly, the Framers knew there might someday be “domestic” enemies of the Constitution and made it our sacred obligation to defend the Constitution from them.
    (I should mention that Joe McCarthy primaried Senator Smith a few years after her speech as punishment to standing up to him, but to no avail, she cruched her opposition and won going away).
    So, with thanks to Margaret Chase Smith for her example and inspiration, this is my ‘Declaration of Conscience.’ I don’t relish this moment, but feel I have no choice but call out the clear implications—and dangers—of what is happening.
    What is happening day by day before our eyes; to do otherwise, to keep silent, would be to compromise what I have believed about our country since my first civics class in high school and, at about the same time, when I watched my dad risk his career to fight for justice and the rule of law. 
    And so, here I stand.
    Abraham Lincoln came to the Congress in the midst of the Civil War—at a time when our forebears—like us—were reluctant to face the responsibilities that had been thrust upon them. At that critical moment, this is what Abraham Lincoln said:
    “Fellow citizens, we cannot escape history. We of this Congress and this Administration will be remembered in spite of ourselves. No personal significance or insignificance can spare one or another of us. The fiery trial through which we pass will light us down in honor or dishonor to the latest generation. The fiery trial through which we pass will light us down in honor or dishonor to the latest generation.”
    Mr. President, I deeply hope that in the midst of our fiery trial, we will choose honor—and the Constitution.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Universal Credit change brings £420 boost to over a million households

    Source: United Kingdom – Executive Government & Departments

    Press release

    Universal Credit change brings £420 boost to over a million households

    More than one million households struggling with debt will get to keep an average £420 more of their benefits each year, under a change to Universal Credit coming into force today [30 April 2025].

    • Around 1.2 million of the poorest households – including 700,000 with children – will keep an extra £420 a year on average, due to Universal Credit change.
    • New Fair Repayment Rate – which comes into force today – caps Universal Credit deductions at 15%, down from 25%.
    • Comes as part of the Government’s Plan for Change to make working people better off by helping them into jobs and extending support for low-income families.

    More than one million households struggling with debt will get to keep an average £420 more of their benefits each year, under a change to Universal Credit coming into force today [Wednesday 30 April 2025].

    The Fair Repayment Rate places a limit on how much people in debt can have taken off their benefits to pay what they owe. The maximum amount that can be taken from someone’s Universal Credit standard allowance payment to repay debt has been 25% – but from today this is reduced to 15%.

    This will mean an average £420 extra a year for 1.2 million of the poorest households, including 700,000 households with children, while helping people to pay down their debts in a sustainable way.

    It forms part of the Government’s Plan for Change to put more money into people’s pockets and boost living standards and marks the Government’s first step in a wider review of Universal Credit to ensure it is still doing its job.

    The Fair Repayment Rate was introduced by the Chancellor at the Autumn Budget, as part of broader efforts to raise living standards, combat poverty, and tackle the cost-of-living crisis.

    Chancellor of the Exchequer Rachel Reeves said:

    As announced at the budget, from today, 1.2 million households will keep more of their Universal Credit and will be on average £420 better off a year. This is our plan for change delivering, easing the cost of living and putting more money into the pockets of working people.

    With as many as 2.8 million households seeing deductions made to their Universal Credit award to pay off debt each month, the new rate is designed to ensure money is repaid where it is owed, and people can still cover their day-to-day needs.

    Work and Pensions Secretary Liz Kendall said:

    As part of our Plan for Change, we are taking decisive action to ensure working people keep more of the benefits they’re entitled to – which will boost financial security and improve living standards up and down the country.

    We’re delivering meaningful change to ensure everyone has a fair chance, the support they need, and real hope for the future.

    The Fair Repayment Rate is one of a number of bold measures the Government is taking as part of its Plan for Change to kickstart growth and spread prosperity across the country.

    Viewing work as a key route out of poverty, the Government set out the Get Britain Working White Paper – aiming to achieve its target 80% employment rate by overhauling Jobcentres, introducing a new jobs and careers service, and launching a youth guarantee so every young person is earning or learning. This comes on top of increasing the National Minimum and National Living Wage to ensure being in work pays.

    To support those in greatest need, the Household Support Fund has been extended another year – backed by £742 million, so local councils can continue to support low-income households with energy bills, food and essential items, while also funding long-term solutions, like home insulation, to help people at risk of falling into poverty.

    The Government is also working to tackle child poverty, rolling out free breakfast clubs in all primary schools in England as the dedicated ministerial taskforce builds its ambitious strategy to ensure every child has the best start in life.

    Additional information:

    • The change will be applied to all assessment periods that start on or after 30 April.
    • The 15% deductions cap continues to support customers to repay their debts at a sustainable rate.

    Updates to this page

    Published 30 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Families to get more choice over home upgrades

    Source: United Kingdom – Executive Government & Departments

    Press release

    Families to get more choice over home upgrades

    Proposals to give families greater choice when upgrading their home’s heating as well as plans to create up to 18,000 training places for green jobs

    • Working families to get greater choice on upgrades to their home’s heating including new products, such as air-to-air heat pumps and heat batteries, as well as offering new heat pump purchase options.  

    • Plan to build a ‘clean power army’ receives a boost, with up to 18,000 professionals to be trained to retrofit homes, and install heat pumps, insulation, solar panels and heat networks.   

    • Comes as government invests £4.6 million in Copeland to manufacture more heat pump parts at home in the UK, supporting local jobs and boosting economic growth as part of the Plan for Change.

    Homeowners are set to have more choice over ways to access heating systems and bring down costs under proposals being considered as part of the Warm Homes Plan – helping to deliver on the government’s milestone of higher living standards as part of the Plan for Change. 

    Demand for heat pumps is surging, with the Boiler Upgrade Scheme – which offers up to £7,500 off the cost, enjoying its best month since opening, with 4,028 applications received in March 2025, up 88 per cent on the same month last year. Heat pumps can save families around £100 on their average energy bills when used with a smart tariff. 

    With more households wanting to make the upgrade to cleaner, homegrown energy, the government has today launched a new consultation on expanding the Boiler Upgrade Scheme to give families even greater choice to pick what works best for them. 

    Changes to the scheme could see families potentially access air-to-air heat pumps and electric heating technologies such as heat batteries, which are currently not eligible for grants under the scheme, alongside new purchase and ownership models which could spread the cost of a heat pump over several years, or give households the opportunity to lease one for a monthly fee instead. 

    As part of the government’s Plan for Change, even more households will be able to take up the offer of switching to low-carbon heating, while protecting the pounds in people’s pockets by making more options available. 

    The government has also set out plans to bolster the ‘clean power army’, training up to 18,000 more home retrofitters, to install heat pumps, insulation, solar panels and heat networks, alongside a major new deal to support the UK’s heat pump supply chain.   

    Minister for Energy Consumers Miatta Fahnbulleh said:  

    Our Warm Homes Plan will mean lower bills and warmer homes for millions of families – helping drive better living standards as part of the Plan for Change.   

    Following a record-breaking month for applications to our Boiler Upgrade Scheme, we are now proposing to give working families more choice and flexibility to pick the low-carbon upgrades that work best for them. 

    And on top of this, we are investing over £4 million in Copeland to continue building a homegrown heat pump industry and training up the army of skilled workers we need to achieve this.

    Copeland in Northern Ireland have been awarded £4.6 million to expand their manufacturing for heating compression technology – a key component of heat pumps, which can help protect family finances from the roller coaster of international gas markets by running on clean electricity. 

    This investment, backed by a multi-million pound investment from Copeland, will help to support the industries and jobs of the future, while unlocking economic growth, as part of the Prime Minister’s Plan for Change.  

    Ministers have also unveiled plans to train up to 18,000 skilled workers to install heat pumps, fit solar panels, install insulation and work on heat networks through the extension of the Heat Training Grant and launch of the Warm Homes Skills Programme.

    With three days to go until the government’s consultation on introducing higher minimum energy efficiency standards in private rented sector homes closes, ministers have issued a final call for tenants and landlords to make their views heard.  

    Under the proposals, all private landlords would be required to meet a higher standard of Energy Performance Certificate (EPC) C or equivalent in their properties – up from the current level of EPC E, by 2030.  

    This will deliver on the priorities of working people, in line with the Prime Minister’s Plan for Change, by requiring landlords to invest in measures such as loft insulation, cavity wall insulation or double glazing – ensuring homes are warmer and more affordable for tenants. Alongside higher standards & funding in the social rented sector, this could lift up to one million households out of fuel poverty by 2030. 

    Stakeholder reaction: 

    Charlotte Lee, CEO at the Heat Pump Association said: 

    Following a record year for UK heat pump sales in 2024, we warmly welcome today’s announcements which will continue to support growth in the sector and increased deployment of clean heating. 

    The additional funding to support those wishing to become qualified to install heat pumps and heat networks is especially welcome, alongside proposals to expand the Boiler Upgrade Scheme to make clean heating solutions an accessible option for more consumers.

    Jambu Palaniappan, CEO at Checkatrade said: 

    We fully support this latest Government investment in skills and training, and greater choice for homeowners.  

    At Checkatrade, we’ve seen the growing importance of green energy to consumers, and with our new Green Hub are more easily connecting them with skilled tradespeople to make their homes more energy-efficient.  

    The new funding is a key step towards empowering more people to enter the trade and a boost for the economy, helping to build long-term, sustainable careers for thousands across the UK.

    Verity Davidge, Director of Policy and Public Affairs at Make UK said: 

    As we continue to transition to a low-carbon economy it is critical we have the people and skills needed to make it happen.

    Today’s announcement is a positive step towards ensuring the workforce is equipped with these skills. Many of those trained will develop the transferable skills needed to support industry in its own quest to transition to net zero.

    Ned Hammond, Deputy Director (Customers) at Energy UK, said:

    Expanding the Boiler Upgrade Scheme and giving families greater choice in the types of low-carbon heating systems available to them is a really positive move. More flexibility in the way customers can pay for these technologies will also help make efficient and smart heating systems, such as heat pumps, heat batteries and heat networks, available to even more customers who are struggling with high energy bills and looking for an alternative to costly gas boilers. 

    The recent surge in demand for the Boiler Upgrade Scheme following the Government’s funding uplift is a clear signal of consumer appetite and what can be done with the right support in place – and it’s vital this level of investment continues.

    Underpinning this is the need for a skilled and dedicated installer supply chain, so it’s fantastic to see Government extending its support for skills and training as part of today’s announcement.

    The Government’s figures show that 71% of installers benefitting from the Heat Training Grant said it made all the difference in their decision to upskill into heat pump systems. Extending the subsidy out to 2030 would help further with bringing in the thousands of new entrants we need into the heat pump and heat networks sectors.

    Chris O’Shea, CEO of Centrica, said:

    As the UK’s largest installer of low carbon heating technologies, we are delighted with the Government’s proposals to expand the Boiler Upgrade Scheme to offer customers more choice on how to decarbonise their homes through greater financing, ownership and technology options.

    We can’t wait to add more to our Clean Power Army, the largest in the UK, using our award-winning academies and British Gas engineers to train installers across the UK.

    Garry Felgate, Chief Executive of The MCS Foundation, said: 

    Consumer confidence in low-carbon technologies is growing, with more households installing heat pumps across the UK than ever before. Today’s announcements will help to accelerate that trend, by ensuring more people can access heat pump grants and supporting the growth of the heat pump workforce.

    These steps are very welcome news, enabling lower bills, lower carbon emissions, and sustainable jobs.

    Sando Matic, Europe President for Copeland, said:

    This investment marks a pivotal step in advancing clean energy solutions and driving economic growth.

    By expanding our manufacturing capabilities for heating solutions here in Northern Ireland, Copeland is proud to play a key role in helping to reduce reliance on fossil fuels and supporting the energy transition to more sustainable, electricity-powered heating.

    Notes to Editors:  

    • Options being considered to help spread the installation cost of a heat pump include:   

    • Hire purchase, giving households the option to pay for a heat pump in instalments, meaning they would own the equipment at the end of their contract.  

    • Hire purchase plus, combining paying for a heat pump in instalments with a separate contract for an energy tariff, allowing providers to simplify costs into a single monthly payment.   

    • Leasing, offering households the option to lease a heat pump for a set amount of time, like leasing a car. At the end of the contract, households would either enter into another agreement to continue leasing the heat pump, or would replace it.  

    • Further information on the Heat Pump Investment Accelerator award to Copeland can be found here: Heat Pump Investment Accelerator Competition successful projects.  

    • The Warm Homes Skills Programme will deliver up to 9,000 training places across England, providing opportunities for people to develop skills in areas including fitting solar panels and installing insulation. More details can be found here: Warm Home Skills Programme. 

    • An extra £5 million will be provided to continue the Heat Training Grant until March 2026, supporting a further 5,500 heat pump installers and 3,500 heat network professionals. The Grant has already trained over 10,650 individuals up to the end of March 2025. More details can be found here: Apply for the Heat Training Grant: discounted heat pump training. 

    • More details on the Heat Training Grant: Heat Network training can be found here: Training providers: apply to offer the Heat Training Grant for heat networks 

    • The government’s consultation on minimum energy efficiency standards for private rented sector homes can be found here: Improving the energy performance of privately rented homes: consultation document

    Updates to this page

    Published 30 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Rep. Gomez Hosts Virtual Roundtable with Social Media Creators and Influencers, Pushes for Better Federal Support

    Source: United States House of Representatives – Congressman Jimmy Gomez (CA-34)

    Gomez pushes for better support for content creators and connects with gaming and digital influencers to reach young Americans

    LOS ANGELES, CA — Representative Jimmy Gomez (CA-34) today hosted a virtual roundtable with digital creators, influencers, and leaders in the gaming and anime space to discuss the growing role of the creator economy in shaping culture, driving innovation, and empowering young people. The conversation focused on financial security for creators, digital entrepreneurship, and educational opportunities through gaming to reach out to people aged 18–24. Gomez is also pushing the Small Business Administration (SBA) to better support content creators through better access to loans, tax resources, and protections for intellectual property.

    Participants included creators and influencers like Kenny Williams Jr., Angelina Darrisaw, David Echeverria, Ilan Shapiro, Ryan Johnson, John Cash, DJ Squid, and Bethany Simpson — representing millions of followers across platforms.

    “Content creators aren’t just building audiences — they’re building businesses, creating jobs, and driving a $250 billion economy,” said Rep. Jimmy Gomez. “We need small business programs that match that reality — not policies that make it harder for entrepreneurs to succeed.”

    “Representative Gomez isn’t just showing up — he’s leading the way,” said Michael Ceraso, an organizer and advocate with Winning Margins who moderated and invited creators to the event. “At a time when most politicians are scrambling to catch up with the digital world, Rep. Gomez is already building real partnerships with creators and pushing for the federal support they deserve. He understands that creators are small business owners, educators, and cultural leaders — and he’s fighting to make sure policy reflects that. This gathering wouldn’t have happened without his vision and commitment.”

    Ryan Johnson — founder and CEO of Cxmmunity Media, a company focused on eSports and video game career development for students of color — spoke about empowering creators, especially students at HBCUs. Rep. Gomez reflected on how platforms like Twitch and YouTube are shaping public opinion and stressed the importance of Democrats engaging directly with digital communities and young Americans.

    “Our company’s claim to fame is that we started the nation’s first eSports and video game league for HBCUs,” said Ryan Johnson, Founder and CEO of Cxmmunity Media. “We’ve been trying to find more strategic ways to not only tell stories but help and empower these creators to use their voices.”

    Rep. Jimmy Gomez represents LA, a global hub for the digital creator economy. As a member of the House Ways and Means Committee, he has been vocal about modernizing the tax code and small business support systems to meet the needs of today’s entrepreneurs. Today’s discussion builds on Rep. Gomez’s January listening session with leading social media influencers, held just days before a potential TikTok ban.

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    MIL OSI USA News –