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Category: Economy

  • MIL-OSI USA: WATCH: Sherrill Demands Transparency by Protecting Inspectors General at the Department of Defense

    Source: United States House of Representatives – Congresswoman Mikie Sherrill (NJ-11)

    WASHINGTON, DC — Congresswoman Mikie Sherrill (NJ-11) spoke out today against Donald Trump firing at least 17 Inspector Generals. These independent watchdogs serve within federal agencies and are tasked with investigating allegations of fraud, waste, and abuse. Despite being protected under federal law, the President failed to provide Congress a 30-day notice before any dismissal. The amendment would protect the Inspector General oversight at the Department of Defense.

    This effort comes after Rep. Sherrill wrote to inspectors general at eight federal agencies demanding investigations into Elon Musk’s conflicts of interest and potential self-dealing.

    Click here to listen to Sherrill’s full remarks. 

    Full remarks, as delivered:

    The Trump’s administration’s immediate firings of Inspectors General — particularly within the DoD — is not only illegal but is also a blatant attempt to silence independent oversight. By removing the IG’s, the administration is ensuring that there is no one left to hold Hegseth and the Department accountable for fraud, waste, and abuse. 

    This is not about improving government, this is about eroding transparency and giving Musk and Hegseth free passes to do whatever they want. It’s dangerous for our national security, and it’s dangerous for our service members.

    And sadly, this is a pattern across the Trump Administration — reducing oversight so that Trump can line the pockets of his billionaire buddies. We’ve seen it time and again: Trump rigs the system — he installs his campaign donors, like Elon Musk, in top roles; they manufacture a problem; remove IGs and other career officials who may hold them accountable; and then award government contracts to businesses where they have a financial interest. 

    It’s self dealing; it’s inappropriate; and it’s illegal. 

    That’s why earlier this year, I called on inspectors general at eight federal agencies to investigate Elon Musk and DOGE’s actions, identify his conflicts of interest, and ensure that an unelected billionaire isn’t stealing New Jersey families’ hard earned tax dollars to further enrich himself and his companies. 

    For Donald Trump, Elon Musk, and Pete Hegseth, it’s never been about combatting waste, fraud, and abuse. And it’s never been about service to country. Which is why I strongly support this amendment to protect inspector general oversight at the Department of Defense.

    ###

    MIL OSI USA News –

    April 30, 2025

  • MIL-OSI USA: Shaheen, Britt Introduce Bipartisan Bill to Make Breast Cancer Diagnostic Tests More Affordable and Accessible

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen
    (Washington, DC) – U.S. Senators Jeanne Shaheen (D-NH) and Katie Britt (R-AL) are introducing the bipartisan Access to Breast Cancer Diagnosis (ABCD) Act to make breast cancer diagnostic tests more affordable and accessible by eliminating copays and other out-of-pocket expenses for these tests, which are often necessary to receive a formal diagnosis. The bipartisan ABCD Act is also backed by U.S. Senator Shelley Moore Capito (R-WV). 
    “Receiving a breast cancer diagnosis is difficult enough – families across the country shouldn’t have to also worry about whether they can even afford the tests necessary to reach such a diagnosis, which can sometimes be the difference between life and death,” said Senator Shaheen. “Breast cancer—and the countless challenges that come with it—knows no geographic borders nor political affiliation. Let’s put politics aside and pass our bipartisan bill that could help save so many lives.” 
    “The ABCD Act would provide greater access to mammography so women can be diagnosed as soon as possible, giving them the widest variety of treatment options and the best chance to defeat this disease,” said Senator Britt. “Mammograms are a crucial, potentially lifesaving tool to detect breast cancer, and this commonsense, bipartisan legislation would ensure that a warranted follow-up diagnostic examination is also covered by health insurers at no out-of-pocket cost to the patient. I’m proud to reintroduce this legislation along with Senator Shaheen.” 
    “For far too many, needed breast imaging and access to a timely diagnosis are still out of reach due to high out-of-pocket expenses, leaving patients forced to decide between their health and their finances,” said Molly Guthrie, Vice President of Policy and Advocacy at Susan G. Komen. “The Access to Breast Cancer Diagnosis Act will remove the financial barrier to diagnostic and supplemental breast imaging so that individuals can get the care they need without having to endure undue financial burden. We grateful to Senators Jeanne Shaheen and Katie Britt and Representatives Debbie Dingell and Brian Fitzpatrick for their leadership on this vital legislation.” 
    Current law requires insurance companies to provide no-copay coverage for breast cancer screenings, but that does not extend to the diagnostic testing including mammograms, MRIs, and ultrasounds, that are necessary in many cases as an estimated ten percent of screening mammograms require follow-up diagnostic testing. 
    The costs of those tests discourage many women from getting them, risking cancer progression that increases both the severity of the disease and the financial toll for treatment. A staggering 40.6 percent of women said the possibility of paying a deductible could lead them to skip additional, often necessary imaging.   
    The standard out-of-pocket cost of a diagnostic mammogram is estimated to be $234, while breast MRIs run patients an average of $1,021. Medical debt is associated with the majority of personal bankruptcies in the United States and even higher for cancer patients.  
    Shaheen and Britt’s bipartisan bill would eliminate financial barriers to ensure women who are recommended for additional imaging can do so without fear of going into debt. The bill is endorsed by the Susan G. Komen Foundation. 

    MIL OSI USA News –

    April 30, 2025

  • MIL-OSI USA: Cassidy, Collins, Colleagues Reintroduce Legislation to Help Americans Better Plan for Retirement

    US Senate News:

    Source: United States Senator for Louisiana Bill Cassidy
    WASHINGTON – U.S. Senators Bill Cassidy, M.D. (R-LA), Susan Collins (R-ME), and colleagues reintroduced legislation to help Americans better plan for retirement and enhance retirement security by ensuring they have the information they need to make more informed decisions regarding when to claim Social Security benefits. 
    “Americans have earned their benefits. When planning for retirement, let’s make sure they have the best information available and receive what they deserve,” said Dr. Cassidy.
    Cassidy was joined by U.S. Senators Tim Kaine (D-VA) and Chris Coons (D-DE) in reintroducing the legislation.
    One of the key financial decisions facing older Americans is when to claim Social Security retirement benefits. Social Security benefits are available to Americans who are as young as age 62, but those who choose to claim their benefits later receive higher monthly payments, with the maximum benefits available to those who claim at age 70 or older.
    Most people do not claim benefits at the age that would maximize their income in retirement. By doing so, they forgo a significant amount of retirement income. To provide additional clarity for Americans deciding when to claim their benefits, this legislation changes the Social Security Administration’s (SSA) terminology from “early eligibility age,” “full retirement age,” and “delayed retirement credits” to “minimum monthly benefit age,” “standard monthly benefit age,” and “maximum monthly benefit age” to better reflect Social Security’s claiming design and how the program works.
    The legislation would also help Americans better plan for retirement by requiring the SSA to mail social security statements—which detail how much a person has paid into Social Security and Medicare—every five years to individuals with Social Security accounts between the ages of 25 and 54, every two years for those between the ages of 55 and 59, and annually for those 60 and above.
    Click here for bill text on nomenclature. Click here for bill text on regular statements for beneficiaries. 
    Background
    Cassidy is a leading advocate for Social Security beneficiaries and recently announced over 73,000 Louisianans have already received a total of $585,586,698.41 in retroactive payments after the repeal of the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). This comes after Cassidy successfully secured a vote in the U.S. Senate to pass the Social Security Fairness Act which fully repealed WEP and GPO. After the bill was passed, Cassidy urged SAA to implement the new law as quickly as possible. Louisiana has now received the seventh most of any state in retroactive payments.
    SSA began depositing retroactive payments into bank accounts in late February and completed nearly all retroactive payments by the end of March. Adjustments to ongoing monthly benefits will begin in April.
    Before the passage of the Social Security Fairness Act, around 94,000 Louisianans were unfairly penalized by WEP and GPO. WEP was enacted in 1983 and reduces the Social Security benefits of workers who receive pensions from a federal, state, or local government for employment not covered by Social Security. GPO was enacted in 1977 and reduces Social Security spousal benefits for spouses, widows, and widowers whose spouses receive pensions from a federal, state, or local government. 

    MIL OSI USA News –

    April 30, 2025

  • MIL-OSI: iBio Raises $6.2 Million Through Warrant Inducement Transaction

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, April 29, 2025 (GLOBE NEWSWIRE) — iBio, Inc. (Nasdaq: IBIO) (“iBio” or the “Company”), an AI-driven innovator of precision antibody therapies, announces today announced that it has entered into an agreement with institutional investors that are existing holders of warrants to purchase shares of common stock of the Company for cash (the “Existing Warrants”), wherein the investors agreed to exercise the Existing Warrants to purchase 5,626,685 shares of common stock at a reduced exercise price of $1.11 per share, resulting in gross proceeds of approximately $6.2 million, before deducting advisory fees and certain other expenses. The Company intends to use the net proceeds for working capital and other general corporate purposes.

    In consideration for the exercise of the Existing Warrants for cash, the investors received new warrants (the “New Warrants”) to purchase up to an aggregate of 11,253,370 shares of common stock. The New Warrants are exercisable at $0.86 per common share, and expire five years from the issuance date. The closing of the warrant inducement transaction is expected to occur on or about April 30, 2025, subject to satisfaction of customary closing conditions.

    Chardan acted as the exclusive financial advisor in connection with the transaction.

    The securities in this private placement have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements. iBio granted registration rights to the purchasers of the New Warrants, and has agreed to file a registration statement with the Securities and Exchange Commission registering the shares of common stock issuable upon exercise of the New Warrants.

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

    About iBio, Inc.

    iBio (Nasdaq: IBIO) is a cutting-edge biotech company leveraging AI and advanced computational biology to develop next-generation biopharmaceuticals for cardiometabolic diseases, obesity, cancer and other hard-to-treat diseases. By combining proprietary 3D modeling with innovative drug discovery platforms, iBio is creating a pipeline of breakthrough antibody treatments to address significant unmet medical needs. Our mission is to transform drug discovery, accelerate development timelines, and unlock new possibilities in precision medicine. For more information, visit www.ibioinc.com or follow us on LinkedIn.

    Forward-Looking Statements

    Any statements contained in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements.” These statements include statements regarding the intended use of proceeds, the expected gross proceeds from the offering and the expected closing of the offering. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the uncertainties related to market conditions and the completion of the offering on the anticipated terms or at all, and the risk factors described in the Company’s Annual Report on Form 10-K for the year ended June 30, 2024, and the Company’s subsequent filings with the SEC, including subsequent periodic reports on Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking statements contained in this press release speak only as of the date hereof and, except as required by federal securities laws, iBio, Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.

    Corporate Contact:
    iBio, Inc.
    Investor Relations
    ir@ibioinc.com

    Media Contacts:
    Ignacio Guerrero-Ros, Ph.D., or David Schull
    Russo Partners, LLC
    Ignacio.guerrero-ros@russopartnersllc.com
    David.schull@russopartnersllc.com
    (858) 717-2310 or (646) 942-5604

    The MIL Network –

    April 30, 2025

  • MIL-OSI USA: Outlining Turmoil Created in First 100 Days Under Trump

    Source: US State of New York

    overnor Kathy Hochul today outlined the turmoil created under President Trump’s first 100 days in office, warning that his administration’s retaliatory policies, deep federal cuts and unilateral tariffs are poised to negatively impact New York’s economy, the environment and hard working families. Last week, New York State joined a multi-state lawsuit challenging the constitutionality of President Trump’s global tariffs. According to independent estimates, Trump’s tariffs will cost the State’s economy more than $7 billion, result in more than 280,000 jobs lost and hit New York families with an average cost increase of $6,400. New York has also led the fight to protect federal funding from cuts and disruptions that are impacting more than $1.3 billion in federal funding for New York and has successfully challenged in court the Trump Administration’s global funding freeze, as well as cuts to the National Institutes of Health, the Department of Health and Human Services, the Federal Emergency Management Agency and other critical federal agencies.

    “The first 100 days of the Trump Administration have been rife with chaos and uncertainty, from on-again, off-again tariffs to cuts to vital programs, New Yorkers are paying the price,” Governor Hochul said. “President Trump promised relief from inflation and his policies are making life harder, chaotic and more expensive for working class New Yorkers while slashing the very services they rely on.”

    Implications for New Yorkers during President Trump’s First 100 Days Include:

    • More than $1.3 billion in cuts to funding for State programs so far with more expected, in addition to the funding cuts to local governments, universities and other organizations delivering critical services to New Yorkers
    • Massive fluctuation in the stock market from ever changing tariff policies has shrunk 401(k)s and 529 college savings plans, and is expected to increase cost of living for New Yorkers by thousands of dollars
    • Manufacturers and small businesses are reeling from severe cost hikes on some products due to tariffs, leading them to leave shipments in customs or cancel orders
    • Canadian and European travel to New York has dropped and hotel stays and trips in regions such as the North Country and Western New York have been cancelled
    • The pause of construction of Empire Wind, which will have a profound impact on jobs and energy production
    • Cutting millions in funding that allows school districts and food banks to buy produce from local farmers who rely on their purchases
    • Three Social Security Administration offices closed in New York
    • Eliminated every person in the office that manages a program helping over 1 million New Yorkers pay their heating and cooling bills
    • Cuts to the NIH paused the critical research of a New York Scientist on Alzheimer’s treatments
    • Cut over $300 million in infrastructure funding for New York communities, threatening our public safety
    • Cutting the majority of federal AmeriCorps funding in New York, which supports approximately 1,500 AmeriCorps members working for non-profits and in low-income communities across the State

    PUBLIC SAFETY AND IMMIGRATION

    The Trump administration has revoked more than $325 million in vital resiliency funding from the Building Resilient Infrastructure and Communities program and put $56 million more at risk, which will impact several critical infrastructure and community resilience projects in New York State.

    Additionally, DOGE is planning to cut up to 84 percent of staff from their Office of Community Planning and Development, which helps pay to rebuild homes and other recovery efforts after the country’s worst disasters such as Superstorm Sandy and Tropical Storms Lee and Irene.

    The Albany National Weather Service (NWS) Office was forced to suspend weather balloon launches due to staff shortages and budget constraints. This has impacted the ability of the NWS to provide twice-daily balloon launches, impacting the accuracy of weather forecasts.

    After Immigration and Customs Enforcement (ICE) detained a Sackets Harbor mom and her children, Governor Hochul took action, engaging with the White House, Border Czar Tom Homan and local officials in an effort to bring the family back home. After 11 days in detention, the family was returned to Sackets Harbor.

    ECONOMY AND TOURISM

    The stock market has been unstable due to President Trump’s on-again, off-again tariff policy. This has caused retirees’ 401(k)s and students’ 529 savings plans to shrink. Additionally, consumer confidence plunged, to 50.8 percent in April from 71.7 percent in January. The dollar has weakened, falling to a three month low in April.

    The Governor has heard from small and mid-sized businesses across the State who are worried about rising costs and their future. A recent survey from the National Small Business Association found that the majority of small businesses are concerned about tariffs and one in three are very concerned. Examples include North Country manufacturer Alcoa, which took an estimated $20 million hit on imports from Canada, and North Country Golf Club which is facing declines in businesses due to the decline in tourism from Canada. In the Southern Tier, the Cortland Standard, which was in business for more than a century, has closed its doors, citing the expected 25 percent tariffs on paper as part of the decision.

    The Trump administration is cancelling the successful Manufacturers Extension Partnership (MEP) in several states. In New York, NY MEP centers generated $1.25 billion in economic impact, supported the creation or retention of nearly 6,300 jobs and served over 700 companies during the 2023 calendar year. This decision has raised widespread concern across the entire national network of MEP Centers, prompting fears about whether these initial cancellations are the first step in a broader effort to dismantle the program and eliminate federal funding for all 51 centers.

    Due to the tariff trade war with Canada, New York’s number one trade partner, and the rhetoric that Canada could be the “51st state,” impacts are widespread. Visitors from Canada are avoiding the U.S. and New York State. Overall, total bridge crossings between Eastern Ontario and New York State for March are down 23,000 compared to 2024, and at the lowest level since 2022. Additionally, Niagara River bridges traffic for February is down 14 percent and Thousand Islands Bridge crossings are down 19 percent.

    A survey of local businesses in the North Country found that 66 percent have already experienced a slight to significant decrease in Canadian bookings for 2025, and that 26 percent have already adjusted staffing levels in response to the decline.

    TRANSPORTATION

    President Trump’s Department of Transportation vowed to kill congestion pricing from day one of his administration, despite clear evidence that the program is working. The MTA reported that in March, traffic is down 13 percent, travel times have improved in key corridors within the Central Business District and it has increased revenue for the MTA that will result in improvements in the system.

    IMPACTS ON HARD WORKING FAMILIES

    President Trump has reduced the federal workforce by more than 120,000 people nationwide according to data compiled from CNN. In New York more than 1,200 federal workers have been forced to file for unemployment.

    The Trump administration has pledged to cancel the successful and free Direct File tax filing program. This program has already begun to make an impact in its first full year, with many New Yorkers saving nearly $300 per household in tax prep fees that could instead go toward groceries, gas, child care or rent.

    The U.S. Department of Agriculture slashed hundreds of millions of dollars in funding that helped schools buy food from local farms. The program sought to bring local produce to schools and child care facilities, giving schools the opportunities to purchase fresh foods and use smaller producers rather than rely on large corporations.

    The Trump Administration announced that half of all food shipments through The Emergency Food Assistance Program (TEFAP) would be canceled, resulting in a $500 million reduction in funding for food banks across the country. New York State could see a loss of around 16 million pounds of USDA foods in 2025 due to the TEFAP funding cuts, according to Feeding New York State.

    SSA field offices are closing, wait times for deserving seniors are increasing and sensitive and private personal data is in danger of being insecure.

    ENERGY

    The Trump Administration stopped construction on Empire Wind, putting thousands of construction jobs at risk and threatening to dismantle a project that when complete, will generate enough electricity to power about 500,000 homes in New York State.

    Funding has been suspended for the National Electric Vehicle Infrastructure (NEVI) Formula Funds. The NEVI program — passed as part of the Bipartisan Infrastructure Law — provides funding directly to states for installing public electric vehicle (EV) charging stations, which, if implemented, will lower fuel costs for families, reduce U.S. dependence on fossil fuels and create construction jobs nationwide.

    President Trump has also threatened to roll back the Inflation Reduction Act (IRA) and repeal its tax credits. NYSERDA estimates a full repeal of the clean energy incentives could result in more than $20 billion in increased project costs and could cause significant project attrition.

    HOUSING

    At the direction of President Trump and DOGE, HUD staff has been decimated, imperiling the core functions of the agency that serve our communities, manage federally funded housing programs and assist housing development at a time of national crisis for housing. Funding has also been cut for organizations that fight housing discrimination across the country, while rolling back federal protections to Affirmatively Further Fair Housing.

    HUD has further announced it was ending four years early the Emergency Housing Voucher Program, a successful federal program to combat homelessness for more than 9,500 households across the State. The federal administration imperiling this funding will force these families, at last stably housed, back onto the street.

    The $1 billion Green and Resilient Retrofit Program that helps preserve affordable housing is being paused, threatening projects that keep tens of thousands of units livable for low-income Americans.

    HEALTH CARE

    The actions of the current administration threaten the health and safety of New Yorkers. New York State remains steadfast in its commitment to safeguarding the health and well-being of all New Yorkers and promoting health equity.

    President Trump has endorsed the House’s budget resolution which includes over $1 trillion in cuts to critical safety net programs like Medicaid and SNAP. Nearly 7 million qualifying New Yorkers are covered under Medicaid, including 2.5 million children, and 636,000 New Yorkers with disabilities. 2.9 million New Yorkers rely on SNAP for healthy food, including over 800,000 children.

    The Trump administration’s National Institute of Health (NIH) has cut grant funding to SUNY used to conduct research to cure diseases, keep our nation safe and grow our economy. The NIH’s sudden budget cuts will cost SUNY research an estimated $79 million on current grants, including more than $21 million over just the next five months that will immediately imperil the work of SUNY’s dedicated researchers by decimating the equipment, staff and services they rely on.

    The Trump Administration picked a top health official who has questioned the safety of vaccines and the use of fluoride in drinking water and claimed that autism was preventable. These views go against proven science and could lead to more diseases by making people doubt public health advice.

    The Administration has taken back important public health funding. This includes money for tracking disease, supporting vaccinations and helping vulnerable communities hit hardest by the pandemic. Without this funding, local health services must cut staff and scale back programs, especially in areas that need the most help.

    Hundreds of federal health workers have lost jobs, making it harder for both the federal government and states like New York to respond to health threats and deliver services like maternal care and disease control.

    New executive orders have removed federal support for diversity, equity and inclusion programs, harming efforts to ensure fair health care for women, LGBTQ+ people and communities of color. These actions affirm that the needs of these communities no longer matter to the federal government.

    In addition, with massive arbitrary cuts to federal agencies, the future of federal programs to help combat substance use disorder, heating and cooling assistance for low-income New Yorkers, and early childhood investment programs like Head Start remain in jeopardy.

    New York State remains committed to ensuring all New Yorkers have access to affordable, quality health care. Accordingly, the State rejects thinly veiled attacks on anyone who may not comport with the Trump Administration’s limited views of who is a person.

    EDUCATION

    President Trump vowed to eliminate the Department of Education, a crucial part of the federal government that supports kids, teachers and administrators right here in New York State. New York receives $5.5 billion annually from the Department of Education. Approximately $3.2 billion is routed through the State Budget and $2.3 billion is sent directly to local entities, primarily colleges and universities. This crucial funding supports Pell Grants for college students, money for kids with disabilities, programs that are supporting kids’ mental health, crucial research at our public higher education institutions and much more

    ENVIRONMENT & AGRICULTURE

    The Trump administration has taken aim through Executive Order at dismantling New York State’s strong environmental protections.

    Additionally, funding for the Local Food Purchasing Assistance Program has been slashed. While the Biden administration had indicated that $24 million would be available under the LFPA program (New York Food for New York Families), the Trump administration (USDA) has reversed and this next round of funding will no longer be available.

    More recently, New York State’s $60 million award for the New York Connects: Climate Smart Farms and Forests Program, which funds climate smart agriculture and forestry practices, was cancelled by USDA.

    USDA staff that assist farmers with implementing conservation programs, loans and other resources for their farms, have been laid off.

    Over 80 percent of agrochemical imports and 70 percent of farm machinery imports come from countries facing tariffs of 10 percent or more. Tariffs may slow down or halt on-farm expansion and modernization due to projected increases in equipment costs, with much of the stainless steel coming from abroad.

    Trade issues are having a compounding effect for dairy farmers — input costs are going up and the milk price relies on export markets. Tariffs and threats of trade disputes result in lost markets and lower milk prices. For example, the budget for a building project went from $85,000 to $106,000, due to tariffs on steel and aluminum, one farm had a $2,200 fee added to their bill for grain because it came from a Canadian feed mill and another farm is anticipating their bottom line to be 7-10 percent lower this year due to lower milk prices and tariffs on inputs, including feed, energy and building supplies.

    The ability of West Coast apple producers to export their product will play a key role in the price and demand for New York apples. If West Coast producers are not able to expand overseas markets, they will continue to flood East Coast markets and displace New York State fresh apples where they can undercut prices.

    Tariffs placed on equipment, largely coming from Canada, would increase producers’ costs of maple syrup production significantly and negatively impact profitability in the maple industry.

    MIL OSI USA News –

    April 30, 2025

  • MIL-OSI: Immediate attention required for LocalBitcoins.com users

    Source: GlobeNewswire (MIL-OSI)

    HELSINKI, Finland, April 29, 2025 (GLOBE NEWSWIRE) — LocalBitcoins.com, a peer-to-peer cryptocurrency trading platform, has ceased its operations. Users who have previously maintained accounts on the platform are strongly advised to promptly check their account balances.

    It is critical to verify if there are any remaining funds in your LocalBitcoins account, unless you have already done so. Should you find a remaining balance, please immediately initiate a withdrawal request to ensure the secure transfer of your assets.

    LocalBitcoins.com emphasizes that users act without delay to safeguard their cryptocurrency holdings.

    For assistance or further information, users should contact LocalBitcoins customer support directly through the website Localbitcoins.com.

    About LocalBitcoins

    Founded in 2013 and headquartered in Helsinki, Finland, LocalBitcoins Oy was a pioneer in the peer-to-peer cryptocurrency space. The company provided a global online marketplace that enabled users to buy and sell Bitcoin directly with one another in a secure and user-friendly environment. The closure of its services was officially announced on February 16, 2023.

    Media contact:
    Nikolaus Kangas, CEO
    nikolaus.kangas@localbitcoins.com

    Disclaimer: This is a paid post and is provided by LocalBitcoins. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. GlobeNewswire does not endorse any content on this page.

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b2c1630a-a2e7-4e3e-bbe2-75a1436990f8

    The MIL Network –

    April 30, 2025

  • MIL-OSI: Subsea7 and SLB OneSubsea awarded EPCI contract for bp’s Ginger project

    Source: GlobeNewswire (MIL-OSI)

    Luxembourg – 29 April 2025 – Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a substantial1 engineering, procurement, construction, and installation (EPCI) contract by bp to Subsea Integration Alliance (SIA) for the Ginger project offshore Trinidad and Tobago.

    The Ginger project is a notable project award under the new global framework agreement between bp and Subsea Integration Alliance partners SLB OneSubsea and Subsea7.

    Building on a long-standing successful relationship, this agreement establishes a new way of working that enables system-level optimisation through increased transparency and early engagement. Further, the framework defines a novel commercial model that effectively aligns incentives for accelerated and maximised value creation among all stakeholders involved, throughout the life of joint projects.

    For the Ginger EPCI project, Subsea7 will supply a diver-installed tie-in system, a flexible production flowline, and associated infrastructure. SLB OneSubsea will deliver four standardised vertical monobore subsea trees and tubing hangers, optimised for speed of delivery and installation. It will also deliver the first high-integrity pressure protection system (HIPPS) manifold in the region, which will unlock considerable safety, efficiency and environmental gains. bp’s Ginger development is located off the southeast coast of the island of Trinidad, at water depths of up to 90 metres.

    Project management and engineering activities will begin immediately at Subsea7’s office in Houston, Texas, with offshore operations scheduled for 2026.

    Craig Broussard, Senior Vice President for Subsea7 for Gulf of Mexico said, “This is a significant project for the region, and one which will benefit from decades of collaboration between bp, Subsea7, and SLB OneSubsea. Our combined expertise and efforts are focused on achieving bp’s goal of first gas in 2026.”

    Olivier Blaringhem, CEO of Subsea Integration Alliance said, “This is an exciting and important project for our novel global framework with bp, which expands our EPCI collaboration to Trinidad and Tobago. Through the capability and agility of our partners Subsea7 and SLB OneSubsea, we provide key assets and expertise to create value for the long-term and deliver the best possible total cost of ownership on the Ginger project.”

    (1)   Subsea7 defines a substantial contract as being between $150 million and $300 million.

    *******************************************************************************
    Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.
    Subsea Integration Alliance (SIA) is a strategic global alliance combining the strengths of SLB OneSubsea and Subsea7. Working closely with SIA gives customers unique access to integrated subsea solutions—including field development planning, EPCI contracting models, end-to-end project delivery—and total life cycle solutions.
    Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.

    *******************************************************************************

    Contact for investment community enquiries:
    Katherine Tonks
    Investor Relations Director
    Subsea7
    Tel +44 20 8210 5568
    ir@subsea7.com

    Contact for media enquiries:
    Ashley Shearer
    Communications Manager
    Subsea7
    Tel +1-713-300-6792
    ashley.shearer@subsea7.com

    Moira Duff
    Director of External Communications
    SLB
    Tel: +1 (713) 375-3407
    Email: media@slb.com

    Forward-Looking Statements: This document may contain ‘forward-looking statements’ (within the meaning of the safe harbour provisions of the U.S. Private Securities Litigation Reform Act of 1995). These statements relate to our current expectations, beliefs, intentions, assumptions or strategies regarding the future and are subject to known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements may be identified by the use of words such as ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘future’, ‘goal’, ‘intend’, ‘likely’ ‘may’, ‘plan’, ‘project’, ‘seek’, ‘should’, ‘strategy’ ‘will’, and similar expressions. The principal risks which could affect future operations of the Group are described in the ‘Risk Management’ section of the Group’s Annual Report and Consolidated Financial Statements. Factors that may cause actual and future results and trends to differ materially from our forward-looking statements include (but are not limited to): (i) our ability to deliver fixed price projects in accordance with client expectations and within the parameters of our bids, and to avoid cost overruns; (ii) our ability to collect receivables, negotiate variation orders and collect the related revenue; (iii) our ability to recover costs on significant projects; (iv) capital expenditure by oil and gas companies, which is affected by fluctuations in the price of, and demand for, crude oil and natural gas; (v) unanticipated delays or cancellation of projects included in our backlog; (vi) competition and price fluctuations in the markets and businesses in which we operate; (vii) the loss of, or deterioration in our relationship with, any significant clients; (viii) the outcome of legal proceedings or governmental inquiries; (ix) uncertainties inherent in operating internationally, including economic, political and social instability, boycotts or embargoes, labour unrest, changes in foreign governmental regulations, corruption and currency fluctuations; (x) the effects of a pandemic or epidemic or a natural disaster; (xi) liability to third parties for the failure of our joint venture partners to fulfil their obligations; (xii) changes in, or our failure to comply with, applicable laws and regulations (including regulatory measures addressing climate change); (xiii) operating hazards, including spills, environmental damage, personal or property damage and business interruptions caused by adverse weather; (xiv) equipment or mechanical failures, which could increase costs, impair revenue and result in penalties for failure to meet project completion requirements; (xv) the timely delivery of vessels on order and the timely completion of ship conversion programmes; (xvi) our ability to keep pace with technological changes and the impact of potential information technology, cyber security or data security breaches; (xvii) global availability at scale and commercially viability of suitable alternative vessel fuels; and (xviii) the effectiveness of our disclosure controls and procedures and internal control over financial reporting. Many of these factors are beyond our ability to control or predict. Given these uncertainties, you should not place undue reliance on the forward-looking statements. Each forward-looking statement speaks only as of the date of this document. We undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    This information is inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

    This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 29 April 2025 at 19:30 CET.

    Attachment

    • SUBC Ginger

    The MIL Network –

    April 30, 2025

  • MIL-OSI USA: ICYMI—Hagerty Joins Mornings With Maria on Fox Business to Discuss Trump’s First 100 Days, Reconciliation, Tariff Negotiations

    US Senate News:

    Source: United States Senator for Tennessee Bill Hagerty
    WASHINGTON—Today, United States Senator Bill Hagerty (R-TN), a member of the Senate Appropriations, Banking, and Foreign Relations Committees and former U.S. Ambassador to Japan, joined Mornings With Maria on Fox Business to discuss President Donald Trump’s success during his first 100 days, the budget reconciliation moving through Congress, and the ongoing tariff negotiations.

    *Click the photo above or here to watch*
    Partial Transcript
    Hagerty on Democrats protesting Trump’s successful first 100 days: “I think in reality, Maria, they’re protesting because this has been the most effective, most impactful, in a positive sense, 100 days, certainly in my lifetime. [Senator] Chuck Schumer seems to forget that in November of last year, 75 percent of the American public felt this nation was on the wrong track. As President Trump has come into office, he’s fixed our border, he’s put us on a fundamentally different plane in terms of crime in America. He’s addressing some of the longstanding issues that we’ve had with some of our partners. We’re moving in the right direction, and I think that the Democrat party is imploding as a result of it. Today is exhibit A in that point.”
    Hagerty on budget reconciliation process: “I met with a group of House leaders last night. They’re working apace to get their piece of the reconciliation package done by Memorial Day. It’s our job in the Senate—I spoke with Leader [John] Thune yesterday—to move as quickly as we possibly can to get the reconciliation package done right after Memorial Day. We need to be moving apace to get certainty locked into our tax code so that companies can make the type of capital commitments that we want to see happen in 2026. That’ll be addressed with corporate tax rate reductions. That’ll be addressed with certainty again and how we amortize the investments that I hope to see. At the same time, the deregulatory thrust is very real. It’s going to be very significant. If you think about [former President] Joe Biden’s term over four years, the estimates are that each year, compliance costs for regulations that he added have gone up $1.4 trillion per annum on corporate America. As we peel those away, that’s going to have an immediate benefit and immediate impact on operating costs. That’s going to be positive for our economy as well […] The Senate’s going to come up with far more than four billion, Maria. It has to do with the rules here, the Byrd Rule in the Senate. We’ll navigate this, I hope, closer to $2 trillion worth of cuts. It is certainly possible. You go back to where we were before the pandemic, before Joe Biden unleashed massive amounts of wasteful stimulus spending. We get back to those levels; we’re not going to have a difficult time getting around $2 trillion cut out of this budget.”
    Hagerty on the trade negotiations with Japan: “As you say, Maria, I’ve seen this movie before. We negotiated two trade deals when I served as ambassador. The Japanese are very tough negotiators, but it’s not just tariffs. It’s non-tariff barriers that exist in Japan. Local rules, localization requirements, we need to be harmonizing those sorts of regulations. I think Japan has a tremendous opportunity. If they step up, we have plenty of room to do more trade, and they have plenty of room to procure more from America. I want to see that happen. President Trump wants to see it happen. That will accommodate a greater partnership, greater strategic alliances, and I think all parties will be better off as a result.”
    Hagerty on his optimism towards a deal with Japan: “I think we can go to zero tariffs with respect to Japan. They are certainly willing to move on tariffs, but again, it’s the non-tariff barriers that have to be addressed. We need to put in place metrics. We need to make certain that they’re addressed. And again, I see real opportunity working with Japan as companies move their supply chains out of China, de-risk those. Japan should be working with us very closely as we develop new technologies, as we work on new military posture, new technologies there, there’s much to be done that’s positive. And we start to announce those types of aggressive forward-leaning activities that we can do together, those types of investments, I think it’ll be very positive for all of us. And President Trump can focus on that.”
    Hagerty on non-tariff barriers with Japan: “The localization requirements have been extraordinarily difficult. And Maria, these difficulties have gone on for decades. Japan has protected its market very heavily. They’ve made it very difficult for us, for, I say western companies, non-Japanese countries, to enter that marketplace. So, if you think about the regulations that they use, again, localizing the product, we’ve got to find ways to make this work in both countries. If you think about the inspection requirements, that type of thing, it can all be addressed. With respect to agricultural products, extremely protective of Japanese farmers, we dealt with a lot of that in the phase one agreement that we negotiated when I was ambassador. There’s a lot more room there as well.”
    Hagerty on the timing of the budget reconciliation package: “I spoke with Leader Thune just yesterday, and I think the [U.S.] House of Representatives working at pace. I’m delighted to see them putting text out. I think as America sees that text, they start to get more and more certainty about where we’re headed. I spoke with Leader Thune yesterday about the fact that as soon as we get back from Memorial Day break, we need to be working at pace. We need to be working in parallel with the House to get this implemented as quickly as possible. This is going to be great news for corporate America. This is going to stimulate more investment. I want these investments committed this year so that we actually see them materialize in 2026. That’s why this needs to be happening at the beginning of the summer, rather than at the end of the summer.”
    Hagerty on the Senate Republicans united to pass the budget reconciliation package: “That was also a part of my conversation with Leader Thune yesterday, and I’ll be speaking with a number of my colleagues aimed at just that. But I think there’s plenty of room to see significant cuts in terms of trimming back this wasteful stimulus spending that took place under Biden, a lot of spending that should have never happened in the first place. Again, moving in the right direction there from a fiscal responsibility standpoint. At the same time, making permanence an overarching goal for corporate tax rates, for the way depreciation is treated and for many other aspects of the tax code that will give, again, certainty to corporate America, so the types of commitments we want to see for 2026 are put in place as soon as possible […] [Pre-covid spending numbers] certainly has been a goal of a number of my colleagues, and we need to be aiming in that direction. You adjust for population growth and I think we can get there.”

    MIL OSI USA News –

    April 30, 2025

  • MIL-OSI: Credit Agricole Sa: Evolution of Crédit Agricole S.A.’s governance

    Source: GlobeNewswire (MIL-OSI)

    Press release

    Montrouge, 29 April 2025

    Evolution of Crédit Agricole S.A.’s governance

    At Crédit Agricole S.A.’s Board meeting of 29 April 2025 chaired by Dominique Lefebvre, Olivier Gavalda, CEO of Crédit Agricole S.A. as of the 14th of May 2025, presented his future organisation.

    Olivier Gavalda will propose to the Board of Directors following Crédit Agricole S.A. general shareholders’ meeting which will be held the 14th of May 2025, that Jérôme Grivet be appointed as sole Deputy Chief Executive Officer and second executive director of Crédit Agricole S.A.

    As of the 1st of June 2025, the General Management of Crédit Agricole S.A. will be organised around seven divisions, the Corporate Secretary and the control functions.

    Five divisions and the General Secretary will be under the direct supervision of Olivier Gavalda:

    • Universal Retail Banks, bringing together LCL under the responsibility of its CEO, Serge Magdeleine, and Crédit Agricole Italia under the responsibility of its CEO, Hugues Brasseur.
    • International Banking and Services, under the responsibility of Stéphane Priami as Deputy General Manager. This new division will be composed of Crédit Agricole Personal Finance & Mobility, Crédit Agricole Leasing & Factoring, the International Banking Development department and BforBank.
    • Major Clients, gathering Crédit Agricole CIB and CACEIS, under the responsibility of Jean-François Balaÿ, CEO of Crédit Agricole CIB.
    • Client, Development and Innovation, under the responsibility of Gérald Grégoire as Deputy General Manager. This division gathers the Retail Markets department, the Transformation/Distribution and Development department, the Brand and Customer Communication department, the regional Banks’ relationships department, the Payments, the startup studio’s La Fabrique and Crédit Agricole Immobilier.
    • Transformation, Human Resources and Transitions, under the responsibility of Grégory Erphelin as Deputy General Manager. This new division will gather the Group Human Resources, Technological Transformation, Sustainability and Impact, Agri-Agro, Guarantee and Capital Development departments, Crédit Agricole Transitions & Energies and Crédit Agricole Santé & Territoires.

      In this division, the Technological Transformation department will be under the responsibility of Olivier Biton and will gather Crédit Agricole Group Infrastructure Platform, Data/AI teams, and the Information Systems Department.

    • Corporate Secretary, under the responsibility of Véronique Faujour gathers the Group Communication department, the Board of Director’s secretary, General affairs, Security/Safety, and Grameen Crédit Agricole Foundation, the Public Affairs department and Uni-Medias.

    Two divisions and the control functions will be under the direct supervision of Jérôme Grivet:

    • Finance and Steering, under the responsibility of Clotilde L’Angevin as Deputy General Manager. This division gathers Finance, Financial Communication & Investors relations, Subsidiaries and Investments, Strategic studies, Legal, Economic studies and Procurement departments.
    • Savings and Wealth Management, this new division will gather Amundi, under the responsibility of its CEO, Valérie Baudson, Crédit Agricole Assurances, under the responsibility of its CEO, Nicolas Denis and Indosuez Wealth Management, under the responsibility of its CEO, Jacques Prost.
    • Group Risks, under the responsibility of Alexandra Boleslawski.
    • Group Compliance, under the responsibility of Hubert Reynier.
    • Group Internal Audit, under the responsibility of Laurence Renoult.
       

    As of 1 June 2025, Crédit Agricole S.A.’s Executive Committee will be thus composed of 18 members:

    • Olivier Gavalda, CEO
    • Jérôme Grivet, Deputy CEO
    • Clotilde L’Angevin, Deputy General Manager, in charge of Finance and Steering division
    • Grégory Erphelin, Deputy General Manager, in charge of Transformation, Human Resources and Transitions division
    • Gérald Grégoire, Deputy General Manager, in charge of the Customer, Development and Innovation division
    • Stéphane Priami, Deputy General Manager, in charge of International Banking and Services division
    • Jean-François Balaÿ, CEO of Crédit Agricole CIB, in charge of Major Clients division
    • Valérie Baudson, CEO of Amundi
    • Hugues Brasseur, CEO of Crédit Agricole Italia and Senior Country Officer for the Group
    • Nicolas Denis, CEO of Crédit Agricole Assurances
    • Serge Magdeleine, CEO of LCL
    • Olivier Biton, Director of Technological Transformation
    • Eric Campos, Chief Sustainability and Impact Officer
    • Bénédicte Chrétien, Group Head of Human Resources
    • Véronique Faujour, Corporate Secretary
    • Alexandra Boleslawski, Group Chief Risk Officer
    • Laurence Renoult, Group Head of Internal Audit
    • Hubert Reynier, Group Head of Compliance

    Jean-Paul Mazoyer, on his own initiative, will now provide strategic advice to the Chief Executive Officer of Crédit Agricole SA. 

    The Board of Directors expressed its warm thanks to Philippe Brassac and Xavier Musca for their commitment and action during a decade of strong development for the Group.

    Biographies

    Clotilde L’Angevin started her career in 2003 at the National Institute of Statistics and Economic Studies, before joining the Treasury Department in 2005 as deputy head of the “Economic and Monetary Union” division. In 2007, she became technical adviser to the Prime Minister on macroeconomic and economic forecasts.
    In 2009, she joined the Ministry of Finance as Head of the “International Diagnostics and Forecasts” division, before being appointed General Secretary of the Paris Club and Head of the “International Debt” division in the Treasury Department in 2011.
    She joined the Crédit Agricole Group in 2015, as Head of Strategy for Crédit Agricole S.A. In 2019, she was appointed Head of Financial Communication at Crédit Agricole S.A. where she was responsible for relations with individual shareholders, institutional debt investors and rating agencies, as well as financial communication and relations with institutional equity investors.
    Since 2023, she has been Deputy Chief Executive Officer of Crédit Agricole d’Ile-de-France.
    Aged 46, Clotilde L’Angevin is a graduate of the Ecole Polytechnique (class 1998), the Ecole Nationale de la Statistique et de l’Administration Économique (2002), and obtained a master’s degree in economics from the London School of Economics (2003).  

    Olivier Biton started his career at Crédit Lyonnais in 2002, as IT project manager. He moved to the United States in 2005 where he was a research assistant at the University of Pennsylvania.
    Upon his return to France in 2007, he joined the Crédit Agricole Group and held various project management positions at CA Payment & Services. He was appointed Head of the Flow Business Line in 2014 and then Head of Information Systems and Projects in 2016.
    He joined LCL in 2017 as Head of Digital Solutions and Information Systems and joined the Executive Committee in 2020. Since 2023, Olivier Biton has been Chief Executive Officer of Crédit Agricole Group Infrastructure (CAGIP).
    Aged 45, Olivier Biton is a computer engineer and a graduate of the Polytech Paris Sud school.

    Grégory Erphelin started his career in 2001 at the French Ministry of Agriculture as Head of the Credit and Insurance bureau. In 2005, he joined the French Direction Générale du Trésor, in charge of the regulation of property and liability insurance. He joined the Crédit Agricole Group in 2008 as Head of Financial Management for Predica (personal insurance subsidiary of Crédit Agricole Assurances). In 2012, he was appointed Chief Financial Officer of Crédit Agricole Assurances.
    In 2015, he also became Chief Financial Officer of Predica and joined the Executive Committee of the Crédit Agricole Assurances Group. In 2017, he was appointed Head of Finance, Procurement, Legal Affairs, Credit commitments and recovery, and member of the LCL Executive Committee.
    Since May 2022, he has been Chief Executive Officer of the Fédération Nationale du Crédit Agricole.
    Aged 49, Grégory Erphelin is a graduate of the Ecole Polytechnique (class 1996), Water and Forestry Engineer and holds an MBA from the Collège des ingénieurs.  

    Jean-François Balaÿ started his career in 1989 at Crédit Lyonnais in the Corporate Banking Markets and held several managerial positions in London, Paris and Asia. In 2001, he joined Crédit Lyonnais in the Loan Syndication business line, first as Head of Origination for Europe, then for Western Europe within Calyon from 2004. In 2006, he was appointed Deputy Head of Syndication for the EMEA region. In 2009, he became Global Head of Loan Syndication at Crédit Agricole CIB. In 2012, he was appointed Head of Debt Optimisation and Distribution. In 2016, he became Head of Risk and Permanent Control. He was appointed Deputy General Manager of Crédit Agricole CIB in 2018 and Deputy CEO of Crédit Agricole CIB in 2021.
    Aged 59, Jean-François Balaÿ holds a master’s degree in economics and management and a master’s degree in banking and finance from Lyon II Lumière University.

    Press contacts Crédit Agricole S.A.

    Attachment

    • EN 29 04 25 PR_Evol. Gouvernance

    The MIL Network –

    April 30, 2025

  • MIL-OSI: DECISIONS OF DIGITALIST GROUP PLC’S ANNUAL GENERAL MEETING 29 APRIL 2025 AND THE ORGANIZING MEETING OF THE BOARD OF DIRECTORS

    Source: GlobeNewswire (MIL-OSI)

    DECISIONS OF DIGITALIST GROUP PLC’S ANNUAL GENERAL MEETING 29 APRIL 2025 AND THE ORGANIZING MEETING OF THE BOARD OF DIRECTORS

    Digitalist Group Oyj Stock Exchange Release 29 April 2025 at 20:00

    DECISIONS OF DIGITALIST GROUP PLC’S ANNUAL GENERAL MEETING 29 APRIL 2025

    Adoption of the financial statements

    The Annual General Meeting of Digitalist Group Plc (the “Company”) adopted the Company’s financial statements and consolidated financial statements for the financial period 1 January -31 December 2024.     

    Resolution on the use of the loss shown on the balance sheet and on the distribution of assets

    The Annual General Meeting resolved that the loss EUR 5,520,249.94 indicated by the financial statements for 2024 be recorded in the Company’s profit and loss account, and that no dividend be paid to shareholders for the financial period 2024.

    Resolution on the discharge of the members of the Board of Directors and the CEO from liability for the financial period 1 January 2024 to 31 December 2024

    The Annual General Meeting discharged members of the Board of Directors and the Managing Directors from liability for the financial period 1 January – 31 December 2024.

    Consideration of the remuneration report for governing bodies

    The remuneration report for governing bodies of the Company was considered and accepted by the Annual General Meeting.

    Resolution on the remuneration of the members of the Board of Directors and the grounds for compensation of travel expenses

    The Annual General Meeting resolved that the fees paid to the members of the Board of Directors will remain the same and be as follows:

    • Chairman of the Board: EUR 40,000/year and EUR 500/meeting
    • Deputy Chairman of the Board: EUR 30,000/year and EUR 250/meeting
    • Members of the Board of Directors: EUR 20,000/year and EUR 250/meeting
    • For the meetings of a Board committee, EUR 500/meeting to the Chairman and EUR 250/meeting to a member

    Travel expenses will be reimbursed in accordance with the Company’s regulations concerning travel reimbursements.

    Resolution on the number of Members of the Board of Directors

    The Annual General Meeting resolved to elect six ordinary members to the Board of Directors.

    Election of the Members of the Board of Directors

    The Annual General Meeting re-elected Paul Ehrnrooth, Andreas Rosenlew, Esa Matikainen, Peter Eriksson, Johan Almquist and Magnus Wetter as ordinary members of the Board of Directors.

    Appointment of the auditor and resolution on the remuneration of the auditor

    The Annual General meeting resolved that the auditor’s fees will be paid against an invoice approved by the company.

    Audit firm KPMG Oy Ab was appointed as the company’s auditor, with KHT auditor Miika Karkulahti as the principal auditor. 

    Authorisation of the Board of Directors to decide on share issues and on granting special rights entitling to shares

    The Annual General Meeting authorised the Board to decide on a paid share issue and on granting option rights and other special rights entitling to shares that are set out in Chapter 10 Section 1 of the Finnish Limited Liability Companies Act, or on the combination of all or some of the aforementioned instruments in one or more tranches on the following terms and conditions:

    The total number of the Company’s treasury shares and new shares to be issued under the authorisation may not exceed 346,715,227, which corresponds to approximately 50 per cent of all the Company’s shares at the time of convening the Annual General Meeting.

    Within the limits of the aforementioned authorisation, the Board of Directors may decide on all terms and conditions applied to the share issue and to the special rights entitling to shares, such as that the payment of the subscription price may take place not only by cash but also by setting off receivables that the subscriber has from the Company.

    The Board of Directors shall be entitled to decide on crediting the subscription price either to the Company’s share capital or, entirely or in part, to the invested unrestricted equity fund.

    The share issue and the issuance of special rights entitling to shares may also take place in a directed manner in deviation from the pre-emptive rights of shareholders if there is a weighty financial reason for the Company to do so, as set out the Limited Liability Companies Act. In such a case, the authorisation may be used to finance corporate acquisitions or other investments related to the operations of the Company as well as to maintain and improve the solvency of the Group and to carry out an incentive scheme.

    The authorisation is proposed to be effective until the Annual General Meeting held in 2026, yet no further than until 30 June 2026.

    Authorising the Board of Directors to decide on the acquisition and/or on the acceptance as pledge of the Company’s treasury shares

    The Annual General Meeting authorised the Board to decide on acquiring or accepting as pledge, using the Company’s distributable funds, a maximum of 69,343,000 treasury shares, which corresponds to approximately 10 per cent of the Company’s total shares at the time of convening the Annual General Meeting. The acquisition may take place in one or more tranches. The acquisition price shall not exceed the highest market price of the share in public trading at the time of the acquisition.

    In executing the acquisition of treasury shares, the Company may enter into derivative, share lending or other contracts customary in the capital market, within the limits set out in laws and regulations. The authorisation entitles the Board to decide on an acquisition in a manner other than in a proportion to the shares held by the shareholders (directed acquisition).

    The Company may acquire the shares to execute corporate acquisitions or other business arrangements related to the Company’s operations, to improve its capital structure, or to otherwise further transfer the shares or cancel them.

    The authorisation is proposed to include the right for the Board of Directors to decide on all other matters related to the acquisition of shares. The authorisation is proposed to be effective until the Annual General Meeting held in 2026, yet no further than until 30 June 2026.

    Resolution on possible measures for improving the Company’s financial situation

    The financial statements presented to the Annual General Meeting for the fiscal year from January 1, 2024, to December 31, 2024, show that the Company’s equity is less than half of the Company’s share capital if the capital loans were not taken into account when assessing the matter. 

    It was noted that the Company has carried out the conversion, as announced on 30 December 2024, of the principal amounts and interests of the convertible bonds 2021/1, 2021/2, 2021/3, and 2021/4 entirely into capital loans in accordance with Chapter 12 of the Finnish Companies Act.

    It was noted that these actions have supported and will support the Company’s balance sheet and solvency.

    It was resolved to accept the proposition of the Board of Directors of the Company not to implement immediate additional measures to rectify the Company’s financial position, but the Company will actively evaluate other possibilities and means to support the Company’s financial standing.

    Minutes of the Annual General Meeting

    The minutes of the Annual General Meeting shall be available on the Company’s website on 13 May 2025 at the latest.

    DECISIONS OF THE ORGANIZING MEETING OF THE BOARD OF DIRECTORS

    In its organizing meeting, the Board of Directors of Digitalist Group Plc resolved to elect Esa Matikainen as the chairman of the board of directors and Andreas Rosenlew as the vice chairman of the Board of Directors.

    The Board resolved to elect Esa Matikainen as chairman of the Audit Committee and Peter Eriksson and Magnus Wetter as members of the Audit Committee. The Board of Directors has evaluated the independence of the Committee members in compliance with the recommendations of the Finnish Corporate Governance Code 2025 as follows. Esa Matikainen and Magnus Wetter are independent of the Company and independent of a significant shareholder. Peter Eriksson is independent of the Company and dependent on a significant shareholder.

    DIGITALIST GROUP PLC

    Board of Directors

    Further information:

    Digitalist Group Plc

    CEO Magnus Leijonborg, tel. +46 76 315 8422, magnus.leijonborg@digitalistgroup.com

    Chairman of the Board Esa Matikainen, tel. +358 40 506 0080, esa.matikainen@digitalistgroup.com

    Distribution:

    NASDAQ Helsinki

    Key media

    https://digitalist.global

    The MIL Network –

    April 30, 2025

  • MIL-OSI: Pinnacle Bankshares Corporation Announces First Quarter 2025 Earnings

    Source: GlobeNewswire (MIL-OSI)

    ALTAVISTA, Va., April 29, 2025 (GLOBE NEWSWIRE) — Net income for Pinnacle Bankshares Corporation (OTCQX:PPBN), the one-bank holding company (“Pinnacle” or the “Company”) for First National Bank (the “Bank”), was $2,261,000, or $1.02 per basic and diluted share, for the quarter ended March 31, 2025 compared to net income of $2,084,000, or $0.95 per basic and diluted share, for the same period of 2024. Quarterly consolidated results are unaudited.

     
    First Quarter 2025 Highlights
    Income Statement comparisons are to the first quarter of 2024
    Balance Sheet, Capital Ratios, and Stock Price comparisons are to December 31, 2024
     

    Income Statement

    • Net Income was $2,261,000 and Return on Assets was 0.88%.
    • Net Interest Income increased 13% due primarily to increased loan volume and yields on earning assets.   Net Interest Margin increased 36 basis points to 3.92%.
    • Provision for Credit Losses was only $37,000 as Asset Quality remains strong with low Nonperforming Loans and no Other Real Estate Owned (OREO).
    • Noninterest Income increased 7% primarily due to higher commissions on investment and insurance products sales and fees on sales of mortgage loans.
    • Noninterest Expense increased 13% due primarily to higher salaries and benefits, occupancy, and core processing expenses.

    Balance Sheet

    • Total Assets decreased $5.8 million, or less than 1%, which was driven by a decrease in Deposits.
    • Loans increased $8.6 million, or 1%.
    • Securities decreased $18 million due to $38 million in maturing U.S. Treasury Securities that yielded approximately 2.13% partially offset by $20 million in purchases of U.S. Treasury Securities yielding approximately 4.13%.  
    • Deposits decreased $10.2 million, or 1%, to $941 million.
    • The Liquidity Ratio was strong at 31% (13% excluding Available for Sale Securities).

    Capital Ratios & Stock Price

    • Capital levels are stable as the Bank’s Leverage Ratio increased to 9.35% and the Total Risk-Based Capital Ratio increased to 13.65% due primarily to profitability.
    • Our Stock Price ended the quarter at $31.94 per share, based on the last trade, which is an increase of $0.74, or 2%.  

    Net Income & Profitability

    Net income generated during the first quarter of 2025 represents a $177,000, or 8%, increase as compared to the same time period of the prior year, which was driven by higher net interest income and noninterest income partially offset by higher noninterest expense and slightly higher provision for credit losses.

    Profitability as measured by the Company’s return on average assets (“ROA”) was 0.88% for the first quarter of 2025, which is a 4 basis points increase from the 0.84% produced in the first quarter of 2024. Return on average equity (“ROE”) decreased in the first quarter of 2025 to 11.31%, compared to 12.02% for the same time period of the prior year due to higher equity driven by retained earnings and increases in the market value of the Bank’s securities portfolio.

    “We are pleased to have generated higher net income for the first quarter of 2025 as compared to the same period of last year. Pinnacle remains well positioned with continued ample liquidity and strong asset quality, which will serve us well we navigate through current economic uncertainties,” stated Aubrey H. Hall, III, President and Chief Executive Officer for both the Company and the Bank.

    Net Interest Income & Margin

    The Company generated $9,480,000 in net interest income for the first quarter of 2025, which represents a $1,070,000, or 13%, increase as compared to the first quarter of 2024 as net interest margin increased 36 basis points to 3.92%. Interest income increased $1,191,000, or approximately 11%, to $12,375,000 due to an increase in average loan volume as well as increased yield on earning assets, which improved 38 basis points to 5.11%. Interest expense increased $122,000, or 4%, to $2,896,000 as the cost to fund earning assets increased only 2 basis points to 1.19%.

    Reserves for Credit Losses & Asset Quality

    The provision for credit losses was minimal and increased only $19,000 to $37,000 in the first quarter of 2025 as compared to the same period of the prior year due to continued strong asset quality.

    The allowance for credit losses was $5,131,000 as of March 31, 2025, representing 0.71% of total loans outstanding. In comparison, the allowance for credit losses was $5,084,000 as of December 31, 2024, which was also 0.71% of total loans outstanding.   Non-performing loans to total loans were 0.14% as of March 31, 2025, compared to 0.22% at year-end 2024. Allowance coverage of non-performing loans was 519% as of the end of the first quarter of 2025 compared to 321% as of year-end 2024. Management views the allowance balance as being sufficient to offset potential future losses associated with problem loans.

    Noninterest Income & Expense

    Noninterest income for the first quarter of 2025 was $1,745,000, representing a $122,000, or 7%, increase compared to first quarter of 2024. Higher noninterest income was mainly due to a $78,000 increase in commissions from sales of investment and insurance products and a $59,000 increase in fees on sales of mortgage loans.

    Noninterest expense for the first quarter of 2025 was $8,361,000 representing a $959,000, or approximately 13%, increase compared to the first quarter of 2024. Higher operating costs were mainly due to a $625,000 increase in salaries and benefits as we have expanded into a new market and added key operational staff, a $149,000 increase in occupancy expense due to the upgrading and maintenance of our facilities, and a $93,000 increase in core operating system expense due to increased volume of transactions.  

    The Balance Sheet & Liquidity

    Total assets as of March 31, 2025 were $1,038,147,000, down $5,847,000, or less than 1%, from $1,043,994,000 as of December 31, 2024. The principal components of the Company’s assets as of March 31, 2025 were $720,482,000 in total loans, $157,564,000 in securities, and $109,707,000 in cash and cash equivalents. During the first quarter of 2025, total loans increased $8,564,000, or approximately 1%, from $711,918,000 as of December 31, 2024, while securities decreased $18,252,000, or approximately 10%, from $175,816,000.

    The majority of the Company’s securities portfolio is relatively short-term in nature with 43% invested in U.S. Treasury Securities with an average maturity of 1.2 years and $20,000,000 maturing in the second quarter of 2025.   All of the Company’s securities were classified as available for sale as of March 31, 2025, which provides transparency regarding unrealized losses. Unrealized losses associated with the available for sale securities portfolio were $10,250,000 as of March 31, 2025 or 6% of book value, an improvement from $11,817,000 as of December 31, 2024.

    Cash and cash equivalents increased $1,494,000, or approximately 1%, to $109,707,000 as of March 31, 2025 from $108,213,000 as of December 31, 2024. The Company had a strong liquidity ratio of 31% as of quarter end. The liquidity ratio excluding the available for sale securities portfolio was 13% providing the opportunity to sell excess funds at an attractive federal funds rate. The Company has access to multiple liquidity lines of credit through its correspondent banking relationships and the Federal Home Loan Bank. None of these contingency funding sources have been utilized over the past year.

    Total liabilities as of March 31, 2025 were $956,624,000, down $8,984,000, or 1%, from $965,608,000 as of December 31, 2024 as deposits decreased $10,239,000, or 1%, to $940,680,000 during the first quarter of 2025. The number of deposit accounts grew by less than 1% during the first quarter of 2025. The Bank retains and acquires customer relationships through providing personalized service and utilization of a community bank approach while capitalizing on market disruption caused by further bank consolidation and large national bank branch closures.

    Total stockholders’ equity as of March 31, 2025 was $81,523,000, an increase of $3,137,000, or 4%, compared to year-end 2024 and consisted primarily of $70,741,000 in retained earnings. The increase in equity is due to retained earnings and a decrease in unrealized losses associated with the Bank’s securities portfolio.   Both the Company and Bank remain “well capitalized” per all regulatory definitions.

    Annual Meeting of Shareholders

    As a reminder, Pinnacle Bankshares Corporation’s Annual Meeting of Shareholders will be held at 11:00 AM Eastern Time on Tuesday, May 13, 2025, at Virginia Technical Institute located at 201 Ogden Road, Altavista VA 24517. Please plan to join us as we discuss the Company’s performance and direction moving forward.

    Company Information

    Pinnacle Bankshares Corporation is a locally managed community banking organization serving Central and Southern Virginia. The one-bank holding company of First National Bank serves market areas consisting primarily of all or portions of the Counties of Amherst, Bedford, Campbell, Halifax, and Pittsylvania, and the Cities of Charlottesville, Danville, and Lynchburg. The Company has a total of nineteen branches with one branch in Amherst County within the Town of Amherst, two branches in Bedford County; five branches in Campbell County, including two within the Town of Altavista, where the Bank was founded; one branch in the City of Charlottesville, three branches in the City of Danville; three branches in the City of Lynchburg; and three branches in Pittsylvania County, including one within the Town of Chatham. A Loan Production Office and a full-service branch have recently been opened in the South Boston area of Halifax County. First National Bank is in its 117th year of operation.

    Cautionary Statement Regarding Forward-Looking Statements

    This press release may contain “forward-looking statements” within the meaning of federal securities laws that involve significant risks and uncertainties. Any statements contained herein that are not historical facts are forward-looking and are based on current assumptions and analysis by the Company. These forward-looking statements, including statements made in Mr. Hall’s quotes may include, but are not limited to, statements regarding the credit quality of our asset portfolio in future periods, the expected losses of nonperforming loans in future periods, returns and capital accretion during future periods, our cost of funds, the maintenance of our net interest margin, future operating results and business performance and our growth initiatives. Although we believe our plans and expectations reflected in these forward-looking statements are reasonable, our ability to predict results or the actual effect of future plans or strategies is inherently uncertain, and we can give no assurance that these plans or expectations will be achieved. Factors that could cause actual results to differ materially from management’s expectations include, but are not limited to: changes in consumer spending and saving habits that may occur, including increased inflation; changes in general business, economic and market conditions; attracting, hiring, training, motivating and retaining qualified employees; changes in fiscal and monetary policies, and laws and regulations; changes in interest rates, inflation rates, deposit flows, loan demand and real estate values; changes in the quality or composition of the Company’s loan portfolio and the value of the collateral securing loans; changes in macroeconomic trends and uncertainty, including liquidity concerns at other financial institutions, and the potential for local and/or global economic recession; changes in demand for financial services in Pinnacle’s market areas; increased competition from both banks and non-banks in Pinnacle’s market areas; a deterioration in credit quality and/or a reduced demand for, or supply of, credit; increased information security risk, including cyber security risk, which may lead to potential business disruptions or financial losses; volatility in the securities markets generally, including in the value of securities in the Company’s securities portfolio or in the market price of Pinnacle common stock specifically; and other factors, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. These risks and uncertainties should be considered in evaluating the forward-looking statements contained herein, and you should not place undue reliance on such statements, which reflect our views as of the date of this release.

     
    Selected financial highlights are shown below.
     
     
    Pinnacle Bankshares Corporation
    Selected Financial Highlights
    (3/31/2025 and 3/31/2024 results unaudited, 12/31/2024 results audited)
    (In thousands, except ratios, share and per share data)
                   
        3 Months Ended   3 Months Ended   3 Months Ended  
    Income Statement Highlights   3/31/2025   12/31/2024   3/31/2024  
    Interest Income $12,375   $12,543   $11,184  
    Interest Expense   2,896   3,264   2,774  
    Net Interest Income   9,480   9,279   8,410  
    Provision for Credit Losses   37   356   18  
    Noninterest Income   1,745   2,681   1,623  
    Noninterest Expense   8,361   8,373   7,402  
    Net Income   2,261   2,800   2,084  
    Earnings Per Share (Basic)   1.02   1.27   0.95  
    Earnings Per Share (Diluted)   1.02   1.27   0.95  
           
    Balance Sheet Highlights   3/31/2025   12/31/2024   3/31/2024  
    Cash and Cash Equivalents $109,707   $108,213   $88,502  
    Total Loans   720,482   711,918   651,593  
    Total Securities   157,564   175,816   180,196  
    Total Assets   1,038,147   1,043,994   1,000,006  
    Total Deposits   940,680   950,919   914,923  
    Total Liabilities   956,624   965,608   929,448  
    Stockholders’ Equity   81,523   78,386   70,558  
    Shares Outstanding   2,216,616   2,212,270   2,205,666  
                   
    Ratios and Stock Price   3/31/2025   12/31/2024   3/31/2024  
    Gross Loan-to-Deposit Ratio   76.59%   74.87%   71.22%  
    Net Interest Margin (Year-to-date)   3.92%   3.70%   3.56%  
    Liquidity (Liquid assets to liabilities)   30.58%   32.60%   32.08%  
    Efficiency Ratio   74.45%   72.49%   73.64%  
    Return on Average Assets (ROA)   0.88%   0.92%   0.84%  
    Return on Average Equity (ROE)   11.31%   12.49%   12.02%  
    Leverage Ratio (Bank)   9.35%   9.21%   8.94%  
    Tier 1 Risk-based Capital Ratio (Bank)   12.94%   12.81%   12.93%  
    Total Risk-Based Capital Ratio (Bank)   13.65%   13.52%   13.61%  
    Stock Price $31.94   $31.20   $28.46  
    Book Value $36.78   $35.43   $31.99  
                   
    Asset Quality Highlights   3/31/2025   12/31/2024   3/31/2024  
    Nonaccruing Loans $988   $1,582   $1,270  
    Loans 90 Days or More Past Due & Accruing   0   0   0  
    Total Nonperforming Loans   988   1,582   1,270  
    Loan Modifications   109   109   350  
    Loans Individually Evaluated   1,097   2,010   1,981  
    Other Real Estate Owned (OREO) (Foreclosed Assets)   0   0   0  
    Total Nonperforming Assets   988   1,582   1,270  
    Nonperforming Loans to Total Loans   0.14%   0.22%   0.19%  
    Nonperforming Assets to Total Assets   0.10%   0.15%   0.13%  
    Allowance for Credit Losses $5,131   $5,084   $4,484  
    Allowance for Credit Losses to Total Loans   0.71%   0.71%   0.69%  
    Allowance for Credit Losses to Nonperforming Loans   519%   321%   353%  
           

    CONTACT: Pinnacle Bankshares Corporation, Bryan M. Lemley, 434-477-5882 or bryanlemley@1stnatbk.com

    The MIL Network –

    April 30, 2025

  • MIL-OSI: MRF 2025 Resource Limited Partnership Closes IPO

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, April 29, 2025 (GLOBE NEWSWIRE) — Middlefield, on behalf of MRF 2025 Resource Limited Partnership (“MRF 2025” or the “Partnership”), is pleased to announce that it has completed the final closing of the initial public offering of MRF 2025 Class A and Class F units for total gross proceeds of $19.4 million.

    The objectives of the Partnership are to provide investors with capital appreciation and significant tax benefits to enhance after-tax returns to limited partners, including the deductibility of 100% of their original investment. The Partnership intends to achieve these objectives by investing in an actively managed, diversified portfolio comprised primarily of equity securities of Canadian companies involved in the resource sector.

    Middlefield is a leading provider of flow-through share funds in Canada and has a strong track record of delivering positive after-tax returns. Since 1983, Middlefield has sponsored 70 public and private flow-through funds and has acted as agent or manager for over $2.5 billion of resource investments.

    The syndicate of agents for the offering was co-led by CIBC Capital Markets and RBC Capital Markets and includes BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Richardson Wealth Limited, Manulife Securities Incorporated, iA Private Wealth Inc., Canaccord Genuity Corp., Raymond James Ltd. and Wellington-Altus Private Wealth Inc.

    For further information, please visit our website at www.middlefield.com or contact Nancy Tham in our Sales and Marketing Department at 1.888.890.1868.

    This offering was only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from your CIRO registered financial advisor using the contact information for such advisor. Investors should read the prospectus before making an investment decision.

    The MIL Network –

    April 30, 2025

  • MIL-OSI United Kingdom: Liverpool launches landmark 2040 plan to create “framework for a better future”

    Source: City of Liverpool

    A detailed, data-led report looking at how to create a better future for Liverpool’s half a million residents over the next 15 years has been published.

    The Liverpool 2040 Plan, which has been published online, sets out a step-by-step framework to foster greater collaborations across dozens of key organisations to make Liverpool the UK’s leading city of opportunity – for all.

    This strategic vision, documented in a 37-page publication, has been launched with a commitment from city leaders “to work closer together than ever before” on a series of common issues and to influence and guide public sector reform on key areas such as education, employment, housing and health.

    Set out as “a framework for a better future”, the wide-ranging plan has been developed by the Liverpool Strategic Partnership, whose membership has been increased to include more than 20 organisations. Collectively the LSP has a combined workforce of more than 60,000 people and an annual spend of £10bn a year.

    The overall aim of the Liverpool 2040 Plan is to offer greater opportunities to the city’s residents, of all ages and backgrounds, in a united effort to make it a better city to live, learn, work and play in.

    The Liverpool 2040 plan also sets out how city partners will collaborate to improve life-long educational standards whilst addressing deep rooted socio-economic and health inequalities, as well as global challenges such as climate change.

    Work is already on some fronts, with Liverpool last week being awarded Marmot City status for its work in tackling health inequalities and has been appointed the world’s first UN Accelerator City for its work on reduce the carbon footprint in the entertainment industry.

    However, Liverpool, whose population is set to grow by 10% over the coming decade, is a city where a third of residents are classed as economically inactive and where one in five have a disability. And at a neighbourhood level, life expectancy can vary by up to 14 years for residents living just four miles apart.

    Such challenges, set against unprecedented pressures on public finances, has led city leaders to come together in a renewed effort to identify and align common priorities. This approach is underpinned by a commitment to analyse and share intelligence to inform and strengthen joint-working to identify and maximise opportunities presented by new government policies.

    The 2040 timeline also aligns with other key data-rich programmes as identified in the State of Health in the City: Liverpool 2040 report and the city region goal to achieve New Zero status also by 2040.

    This shared ambition is set around eight key priorities, each to be measured against five specific outcomes, with a clear intent to provide a long-term vision for the type of city the next generation should be inheriting.

    The eight pillars of the 2040 plan are:

    1. The Next Generation – key aim: For Liverpool to be UNICEF Child Friendly City.
    2. Healthy Lives – key aim: To improve life expectancy and reduce health inequalities in poorest communities.
    3. A Fair Transition to Net Zero – key aim: For Liverpool to be a zero-waste city.
    4. Safe, Cohesive and Clean Communities – key aim: To improve safety at neighbourhood level.
    5. Quality Homes – key aim: To work at eliminating homelessness and rough sleeping.
    6. Inclusive Economic Growth – key aim: To develop city-wide innovation and skills strategy.
    7. An Exciting and Distinctive City – key aim: For Liverpool to build on top 5 UK visitor city destination status.
    8. Vibrant Public Services – key aim: To be a leading innovator based on data-led evidence.

    The LSP, overseen by a board of chief executives, chaired by the chief executive of Liverpool City Council, has also been refreshed in response to the Strategic Futures Panel’s recommendations around strengthening the city’s approach to public service reform.

    The LSP has also been devised to enable Liverpool to speak with one voice to national government and its departments. It also provides a shared platform for the city to take advantage of any new government opportunities.

    The Liverpool 2040 Plan has also identified a priority focus on public service reform, with an emphasis on what makes sense for local areas to meet the needs of local people.  This will build on key initiatives including Liverpool City Council’s new neighbourhood model, the Health Determinants Research Collaboration (HDRC), the Complex Lives project, the North Liverpool Public Service Reform Prototype, and the development of an Office of Public Service Innovation.

    The Liverpool 2040 plan, which has been endorsed by Liverpool City Council’s cabinet, replaces the former City Plan that was published in 2020.

    This previous city plan was in need of a refresh to reflect on the lessons and consequences of Covid-19 pandemic, the commissioner-led intervention to improve Council performance, as well as recent socio-political issues like a new UK government, last summer’s civil unrest. It also needed to respond to wider issues like the global energy crisis caused by the Russian invasion of Ukraine as well as the rise of AI and understanding and identifying the challenges and opportunities it presents.

    Member of the Liverpool Strategic Partnership are:

    • Liverpool City Council
    • University of Liverpool
    • Liverpool John Moores University
    • Liverpool Hope University
    • Liverpool School of Tropical Medicine
    • City of Liverpool College
    • Liverpool Chamber of Commerce
    • Liverpool Charity and Voluntary Service
    • Torus
    • The Riverside Group
    • Onward Homes
    • Merseyside Police
    • Merseyside Fire and Rescue Service
    • HMPS – Liverpool Prison
    • Mersey Care NHS Foundation Trust
    • NHS Cheshire and Merseyside Health and Care Partnership
    • Liverpool University Hospitals NHS Foundation Trust
    • Alder Hey Children’s Hospital Trust
    • Liverpool Heart and Chest Hospital
    • Walton Centre NHS Foundation Trust
    • Department for Work and Pensions, North West

    Councillor Liam Robinson, Leader of Liverpool City Council, said: “The Liverpool 2040 Plan sets out the beginning of a 15-year journey to shape Liverpool as the UK’s leading city of opportunity – for all.

    “The Liverpool 2040 Plan sets out a clear vision of how to be a better city and sets the foundations to guide the changes needed well into the rest of the 21st century.

    “it’s clear our major organisations need to work much harder and smarter together. For Liverpool to be a better city, we need to do better on a lot of levels – and I’m heartened by the desire and commitment in so many of our partner organisations to do that.

    “This is the city that delivered both the best-ever European Capital of Culture and Eurovision. Through a potent mix of imagination, inspiration and collaboration we saw mass participation on an unprecedented scale, delivering remarkable results with huge economic benefits. Under the biggest spotlight and phenomenal pressure, Liverpool performs. And excels. Like few cities can.

    “But on another level, too many of our residents are not living their best life. Opportunity is not knocking in the way it should in the world of education and employment. The health and wealth for a lot of our residents is below the national average. Much of our housing is poor quality, so many of our children are not benefitting from the best possible start in life. That is unacceptable. That needs to change.

    “This Liverpool 2040 plan provides the best possible platform for us to start that journey, informed by data every step of the way to ensure we all make the right decisions to ensure we create an environment that nurtures and fosters talent and opportunity.

    “We need to fully address the fundamental issues we face – in education, employment, health, housing, transport and employment – and its eight guiding priorities will shape how we respond to the challenges and maximise the opportunities over these next 15 years.

    “I’m deeply encouraged by how many partners right across the public, private and voluntary sector have signed up to a vision of offering greater opportunities than ever before to our residents. We all have a role to play in making Liverpool the best place to grow up, grow a family, and grow a business – where no-one is left behind.

    “Rest assured myself, my cabinet and this Council will work tirelessly with the Metro Mayor and the city region combined authority to make our case to the UK Government where and when it is needed. The Council cannot make these improvements alone. And not all the solutions are financial – reform and policy changes are just as vital to delivering the changes we need.

    “Lasting change takes time, which is why we have set a 15-year timeline for our vision. Despite this, we are determined that our residents will see immediate and incremental improvements in the here and now, and I am deeply optimistic about the progress we can make together on an ongoing basis.”

    Andrew Lewis, Chair of the Liverpool Strategic Partnership and Chief Executive of Liverpool City Council said: “Public services across the country, and particularly here in Liverpool, are facing unprecedented challenges, including rising demand for services, limited public funding and increasing complexity of needs. 

    “These challenges cannot be met by any one organisation acting alone. So it’s vital to have a strong strategic partnership across Liverpool.  Together we represent the full range of public services for our city, committing to work together on a shared strategy for Liverpool 2040, prioritising our investments, sharing data and evidence, and transforming services together.”

    MIL OSI United Kingdom –

    April 30, 2025

  • MIL-OSI Security: Venezuelan Nationals with TPS Charged in Miami with Defrauding U.S. Government-Funded Covid-19 Relief Program

    Source: Office of United States Attorneys

    MIAMI – Freddy Urribarri, 42, and Mairilin Munoz 39, have been charged with conspiracy to commit wire fraud, wire fraud, and money laundering in connection with their submission of false and fraudulent Paycheck Protection Program (PPP) loan applications. Both defendants are Venezuelan nationals who were granted Temporary Protected Status (TPS), which allowed them to remain in the United States temporarily after they had entered the country. They were living in Dania Beach, Fl. at the time of their arrests.   

    According to allegations in the Indictment and statements made in open court, the defendants conspired with each other to commit fraud by submitting false PPP loan applications for Covid-19 era relief money meant to help struggling small business owners financially survive the pandemic. The defendants submitted two sole proprietorship loan applications with false and fraudulent supporting tax documents. Urribarri and Munoz also caused the submission of a false and fraudulent PPP loan application for FU&MM General Services, a company they controlled as president and vice president. The application inflated FU&MM’s income and number of employees. The lender accepted the false representations and approved a loan of about $438,000.

    Once they received the loan proceeds, the defendants engaged in a scheme to conceal the nature of the funds. Munoz also engaged in financial transactions over $10,000 using proceeds of the fraud. Urribarri and Munoz also submitted false and fraudulent tax documents in support of a PPP loan forgiveness application.  

    U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida and Acting Special Agent in Charge José R. Figueroa of the Department of Homeland Security, Homeland Security Investigations (HSI), Miami Field Division, announced the charges.  

    HSI Miami investigated the case. Assistant U.S. Attorney Daniel Bernstein is prosecuting it.

    The charges contained in the indictment are merely accusations and the defendants are presumed innocent unless and until proven guilty.  

    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.

    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 25-cr-20151.

    ###  

    MIL Security OSI –

    April 30, 2025

  • MIL-OSI: Nomad Internet Launches the FWA Exchange Store, Helping Entrepreneurs to Build Their Wireless Empire

    Source: GlobeNewswire (MIL-OSI)

    NEW BRAUNFELS, Texas, April 29, 2025 (GLOBE NEWSWIRE) — Nomad Internet is proud to launch the FWA Exchange Store — the new way to buy, activate, and manage wireless services across the U.S.

    This all-in-one platform is made for digital builders, resellers, and wireless operators who want full control without technical barriers. No license required. No coding skills needed. All that is required is a vision and internet access.

    Unlimited 5G Plans at Fingertips

    Choose from Verizon and T-Mobile nationwide plans:

    • Verizon Unlimited 5G — $75/month
    • T-Mobile Unlimited 5G — $60/month

    Activate, suspend, or modify plans directly from the dashboard.

    Bring Your Own Modem and Get Online Fast

    If the device is already available, just buy a SIM, enter the SIM ID and IMEI, and activate instantly. There is no complex setup and no waiting around.

    Special Launch Offer: Verizon Dragon Modem — Only $99

    The Dragon Modem is built for the FWA Exchange.
    Key Features:

    • Real-time usage tracking
    • Instant on/off toggling
    • Future-ready for geofencing

    Launch price: $99 — inventory is limited.

    The FWA Dashboard: The Ultimate Wireless Control Hub

    The FWA dashboard ties it all together:

    • Activate or suspend services
    • Assign stacks to customers
    • Track data usage, billing, and balances
    • Scale from 1 to 1,000 modems easily

    The FWA Dashboard puts total control at fingertips.

    What’s Coming Next

    Nomad is already building next-gen features:

    • Dual-SIM and antenna-enabled modems
    • Bundle kits with wallet credit
    • API tools and white-label dashboards
    • Community leaderboards and bonuses

    Join the movement, which is already 2,000+ resellers strong, at https://fwaexchange.com and be a part of the future of connectivity.

    The FWA Exchange enhances the Nomad Wholesale Network, helping entrepreneurs across the U.S. launch and grow their own wireless services.

    About Nomad Internet

    Nomad Internet is America’s largest wireless internet provider for rural, remote, and underserved communities. We deliver high-speed, reliable connectivity where traditional providers cannot.

    Media Contact:
    Company Name: Nomad Internet
    Contact Person: Manish Roshan
    Email: manish.roshan@nomadinternet.email
    Website: https://nomadinternet.com
    Phone: +1 281 800 1000

    Disclaimer: This content is provided by the Nomad Internet. The statements, views, and opinions expressed in this column are solely those of the content provider. The information shared in this press release is not a solicitation for investment, nor is it intended as investment, financial, or trading advice. It is strongly recommended that you conduct thorough research and consult with a professional financial advisor before making any investment or trading decisions. Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cfa4d6fa-2c6e-4a31-8add-b637fc3b9dad

    The MIL Network –

    April 30, 2025

  • MIL-OSI Security: Toronto — Fraudulent investment scheme ends with guilty plea

    Source: Royal Canadian Mounted Police

    In 2022, the Integrated Market Enforcement Team (IMET) of the Royal Canadian Mounted Police (RCMP) in Toronto initiated an investigation, after receiving information from the Ontario Securities Commission. The investigation confirmed that three investors had been defrauded through the purchase of shares in a private placement of Cobalt Blockchain. However, these shares were never purchased on behalf of the investors. On March 12, 2024, the RCMP charged Harvinder Singh Bhoi, who is the CEO and President of Asset Real Capital (ARC) with one count of fraud over $5,000.

    In early April, Bhoi from Toronto, entered a guilty plea to one count of Fraud over $5,000 contrary to section 380(1)(a) of the Criminal Code of Canada.

    On April 10, 2025, the court imposed the following sentence on Bhoi:

    • An 8-month conditional sentence;
    • 2 years of probation and travel restrictions;
    • A restitution order in the amount of $33,000 to be paid to his victims by July of 2025

    This investigation was led by the RCMP’s Toronto Integrated Market Enforcement Team. This specialized RCMP-led unit is mandated to protect the integrity of Canada’s capital markets by detecting, investigating and deterring capital market fraud.

    “This investigation is a great example of the RCMP’s commitment to keeping our communities safe by effectively disrupting financial crime.”
    – S/Sgt. David Kim, Acting Officer in Charge, RCMP IMET.

    The RCMP IMETs are located in British Columbia, Alberta, Ontario and Quebec and are funded by the Government of Canada and led by the RCMP. Their goal is to detect, investigate and charge those using capital markets to harm the economic interests of Canadians.

    If you have any information about money laundering or any other criminality, you can contact your local police, the Ontario RCMP at 1-800-387-0020, or report anonymously through Crime Stoppers at 1-800-222-8477 (TIPS), at any time.

    MIL Security OSI –

    April 30, 2025

  • MIL-OSI United Kingdom: Innovative ‘collective’ pension funds to deliver higher incomes and lower risks for future pensioners

    Source: United Kingdom – Executive Government & Departments

    Press release

    Innovative ‘collective’ pension funds to deliver higher incomes and lower risks for future pensioners

    Pensioners of the future will benefit from innovative ‘collective’ pension schemes to boost their income in retirement and productive investment across the economy, under plans announced today [29 April]

    • Wide reaching reforms to make innovative “collective” pension funds more commonplace will reduce risk and volatility for savers.
    • Collective Defined Contribution (CDC) schemes pool investment and longevity risks, unlocking productive investment potential as well as supporting more predictable returns for savers at no extra cost for employers. 
    • With new regulations to allow for multiple employer CDCs planned for the Autumn, more savers are set to benefit from CDCs as part of the Government’s Plan for Change.

    More people than ever are saving into a workplace pension – £28 billion more in 2020 than in 2012 – with most of these pension pots being Defined Contribution (DC) schemes, where the employee is automatically enrolled to save a proportion of their salary tax-free and the employer contributes at least 3% of their salary to the pot too. 

    But a lack of innovation and reform of the DC savings landscape risks some future pensioners bearing large risks, in terms of the value of their investments and whether their savings will provide an income throughout their retirement. 

    Collective Defined Contribution (CDCs) are a new type of pension scheme that sees both the employer and employee contribute to a collective fund. Due to the scale of these funds and the pooling of risk for members, they can aim to provide a target pension income for life – similar to Defined Benefit (DB) schemes, sometimes called an average or final salary pension, but without the risk of significant unexpected bills for employers.  

    In the UK, Royal Mail have already launched a CDC scheme for their employees which has over 100,000 members who are offered a combination of a cash lump sum and an income for life in retirement. 

    Speaking at the LCP Conference in London today, the Minister for Pensions confirmed new regulations, set to be laid in the Autumn, will allow for multiple employer CDC schemes to be established, so that a range of unconnected employers can pool their employees’ pension pots into a collective fund, boosting returns for savers. 

    These pooled pension investments will mean higher incomes in retirement, and help individuals manage the uncertainty about how long that retirement will be. These measures will provide more options for savers and employers to choose between and are part of wider reforms to the pensions landscape, as part of our Plan for Change to put more money into people’s pockets.

    Minister for Pensions, Torsten Bell said: 

    Success in the world of pensions isn’t just about getting people saving, it’s ensuring their savings work as hard as possible for them. 

    Making sure more employers and savers have the option of an innovative Collective Defined Contribution Pension scheme is an important part of making that happen.

    Too often at present we are leaving individuals to face significant risks, about how their individual investments perform and how long their retirements last. Pooling some of those risks will drive higher incomes for pensioners and greater investments in productive assets across the economy.

    The Minister also confirmed his desire to deliver decumulation only CDC schemes. These schemes would allow certain savers with DC schemes to access CDCs, offering retirees the chance to buy longer term, pooled retirement products that deliver stability for pensioners. 

    Modelling from the PPI suggests that single employer CDCs could deliver a significantly greater average replacement rate (47%) than currently delivered through annuities (40%) with even higher benefits seen for multi-employer CDCs as longevity risks are pooled. (69%). 

    And due to their size, CDCs can also be a more efficient vehicle for economic growth, with similar collective funds in Canada and Australia having proved an efficient way of supporting economic growth, investing in a wider range of sectors and assets.

    CDC schemes can invest in illiquid and more productive investments over the long term, including in UK businesses and infrastructure projects, supporting the Government’s growth mission while providing employers with greater freedoms as well as reducing the risks of over or under spending in retirement by paying pensioners based on life expectancy.

    These measures aim to drive economic growth and improve retirement outcomes for working people as part of the Plan for Change. 

    Today’s announcement will provide clarity to the industry ahead of the upcoming Pensions Investment Review and Pension Schemes Bill, and in time give working people and employers a new option when considering what pension scheme works best for them

    Additional Information

    • The Pensions Investment Review: interim report sets out proposals which the government has consulted on to deliver scale and consolidation of the Defined Contribution (DC) market and the Local Government Pension Scheme in England and Wales (LGPS). The report can be viewed here: Pensions Investment Review: interim report – GOV.UK
    • The government plans to introduce legislation in Autumn 2025, and subject to parliamentary approval, intends to bring the legislation and an updated Regulator’s Code into force as soon as practicable. 
    • The government will continue to work with industry stakeholders to develop decumulation CDC.  
    • The UK’s first CDC scheme, the Royal Mail Collective Pension Plan launched in 2024 which was a truly landmark moment for the UK pension landscape.
    • There are now several organisations are actively looking to set up an unconnected multiple employer CDC scheme.

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    Published 29 April 2025

    MIL OSI United Kingdom –

    April 30, 2025

  • MIL-OSI: ASM announces start of €150 million share buyback program

    Source: GlobeNewswire (MIL-OSI)

    Almere, The Netherlands
    April 29, 2025, 6:00 p.m. CET

    ASM International N.V. (Euronext Amsterdam: ASM) today announces that it will start a share buyback program of ASM’s common shares of €150 million. 

    This program follows on ASM’s announcement on February 25, 2025, that the Management Board authorized a share buyback program for up to €150 million. The program commences on April 30, 2025, and is to end as soon as the aggregate purchase price of the common shares acquired by ASM has reached €150 million, but ultimately by January 2026.

    The share buyback program will take place within the limits of relevant laws and regulations, the existing authority granted at ASM’s AGM held on May 13, 2024, and the authority (if granted) by the AGM meeting on May 12, 2025, and will be executed by a third party. ASM intends to use the repurchased shares to cover existing and expected future obligations under ongoing share programs for employees and board members. The total number of shares to be purchased in connection with the share buyback program shall not exceed 4,714,465.

     ASM will update the market on the progress of the share buyback program on a weekly basis, starting on May 5, 2025. This information will also be published on ASM’s website (www.asm.com).

    About ASM International
    ASM International N.V., headquartered in Almere, the Netherlands, and its subsidiaries design and manufacture equipment and process solutions to produce semiconductor devices for wafer processing, and have facilities in the United States, Europe, and Asia. ASM International’s common stock trades on the Euronext Amsterdam Stock Exchange (symbol: ASM). For more information, visit ASM’s website at www.asm.com.
    Cautionary note regarding forward-looking statements: All matters discussed in this press release, except for any historical data, are forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These include, but are not limited to, economic conditions and trends in the semiconductor industry generally and the timing of the industry cycles specifically, currency fluctuations, corporate transactions, financing and liquidity matters, the success of restructurings, the timing of significant orders, market acceptance of new products, competitive factors, litigation involving intellectual property, shareholders or other issues, commercial and economic disruption due to natural disasters, terrorist activity, armed conflict or political instability, changes in import/export regulations, epidemics, pandemics and other risks indicated in the company’s reports and financial statements. The company assumes no obligation nor intends to update or revise any forward-looking statements to reflect future developments or circumstances.

    This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Contact

    Investor and media relations

    Victor Bareño
    T: +31 88 100 8500
    E: investor.relations@asm.com

    		  

    Investor relations

    Valentina Fantigrossi
    T: +31 88 100 8502
    E: investor.relations@asm.com

    The MIL Network –

    April 30, 2025

  • MIL-OSI: RESEND – Northstrive Biosciences Strengthens IP Portfolio with New US Patent Filings for EL-22 and EL-32 Programs Covering Obesity and Animal Health

    Source: GlobeNewswire (MIL-OSI)

    NEWPORT BEACH, Calif., April 29, 2025 (GLOBE NEWSWIRE) — Northstrive Biosciences Inc. (“Northstrive”), a subsidiary of PMGC Holdings Inc. (NASDAQ: ELAB) (the “Company,” “PMGC,” “we,” or “our”), today announced the filing of four novel patent applications for its two candidates EL-22 and EL-32. These patent applications cover the animal market, as well as treating muscle loss in obese patients, both as standalone and combination therapies alongside GLP-1 receptor agonists.

    The Company filed the following four patents today:

    • EL-22 in Animals: Fusion Protein of Myo-2 for Use in Encouraging Muscle Growth in Animals (Patent Application No. 19/191,246).
    • EL-32 in Obesity as Monotherapy and Combination with GLP-1: Updated patent filings for Pharmaceutical Composition for Treatment of Muscle Loss Due to Obesity Treatments (Patent Application No. 19/191,209), and Combination Therapy for Treatment of Muscle Loss Due to Obesity Treatments utilizing GLP-1 receptor agonists (Patent Application No. 19/191,226).
    • EL-32 in Animals: Animal Feed Additive to Encourage Muscle Growth (Patent Application No. 19/191,258).

    The Company believes these newly filed patent applications support the development of Northstrive’s engineered probiotic platform, designed to advance human obesity care by preserving muscle mass while reducing fat mass, with additional potential applications in animal health.

    “We believe that EL-22 and EL-32 have the potential to treat obesity in combination with GLP-1 receptor agonists, while also serving as the foundation to a potential range of animal health products”, said Deniel Mero, Co-Founder of Northstrive. “These patent applications strengthen our IP portfolio as we advance on our mission transform the standard of care for obesity and break into the animal health market.”

    Northstrive’s patent portfolio now includes 8 patent applications and 5 issued patents that provide adequate protection in focus markets, including the USA, Japan, China and Korea.

    Licensed Product /
    Nation    		 Patent Application
    Serial No.    		 Title:
    EL-32 USA US 18/627,462 Pharmaceutical composition for alleviation, treatment, and prevention of sarcopenia containing microorganism transformed with cell surface display vector operably linked with gene encoding myostatin and activin A proteins as active ingredient
    EL-32 Korea 10-2022-0136606 A pharmaceutical composition for alleviation, treatment and prevention of sarcopenia containing a microorganism transformed with a vector expressing myostatin and activin A on the cell surface as an active ingredient
    EL-22 USA US 18/895,501 Fusion Protein of Myo-2 for Use in Treating Muscle Loss in Obese Patients
    EL-22 USA US 18/895,519 Combination Therapy of a Fusion Protein of Myo-2 with a GLP-1 Receptor Agonist for Use in Treating Muscle Loss in Obese Patients
    EL-22 (Animals)
    USA    		 US 19/191,246 Fusion Protein of Myo-2 for Use in Encouraging Muscle Growth in Animals
    EL-32 USA US 19/191,209 Pharmaceutical Composition for Treatment of Muscle Loss Due to Obesity Treatments
    EL-32 USA US 19/191,226 Combination Therapy for Treatment of Muscle Loss Due to Obesity Treatments utilizing GLP-1 receptor agonists
    EL-32 (Animals) USA 19/191,258 Animal Feed Additive to Encourage Muscle Growth
         
    Patent No. Registration No. Title:
    EL-22 Korea 10-0857861-0000 Surface Expression Vector for Fusion Protein of Myo-2 Peptide Multimer and Myostatin, and Microorganism Transformed by Thereof
    EL-22 Korea 10-0872042-0000 Cell Surface Expression Vector of Myostatin and Microorganisms Transformed Thereby
    EL-22 USA US 8470551 Surface Expression Vector for Fusion Protein of Myo-2 Peptide Multimer and Myostatin, and Microorganism Transformed by Thereof
    EL-22 Japan US 5634867 Surface Expression Vector for Fusion Protein of Myo-2 Peptide Multimer and Myostatin, and Microorganism Transformed by Thereof
    EL-22 China ZL200780101116.2 Surface Expression Vector for Fusion Protein of Myo-2 Peptide Multimer and Myostatin, and Microorganism Transformed by Thereof


    About Northstrive Biosciences Inc.

    Northstrive Biosciences Inc., a PMGC Holdings Inc. company, is a biopharmaceutical company focusing on the development and acquisition of cutting-edge aesthetic medicines. Northstrive’s lead asset, EL-22, leverages an engineered probiotic approach to address obesity’s pressing issue of preserving muscle while on weight loss treatments, including GLP-1 receptor agonists. For more information, please visit www.northstrivebio.com.

    About PMGC Holdings Inc.

    PMGC Holdings Inc. is a diversified holding company that manages and grows its portfolio through strategic acquisitions, investments, and development across various industries. Currently, our portfolio consists of three wholly owned subsidiaries: Northstrive Biosciences Inc., PMGC Research Inc., and PMGC Capital LLC. We are committed to exploring opportunities in multiple sectors to maximize growth and value. For more information, please visit https://www.pmgcholdings.com.

    Forward-Looking Statements

    Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as “believes,” “expects,” “plans,” “potential,” “would” and “future” or similar expressions such as “look forward” are intended to identify forward-looking statements. Forward-looking statements are made as of the date of this press release and are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, activities of regulators and future regulations and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results. Therefore, you should not rely on any of these forward-looking statements. These and other risks are described more fully in PMGC’s filings with the United States Securities and Exchange Commission (“SEC”), including the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on March 28, 2025, and its other documents subsequently filed with or furnished to the SEC. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at www.sec.gov. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

    IR Contact:
    IR@pmgcholdings.com

    The MIL Network –

    April 30, 2025

  • MIL-OSI: SCOR SE Combined Shareholders’ Meeting held on Tuesday 29 April 2025 – Approval of all resolutions by SCOR SE shareholders

    Source: GlobeNewswire (MIL-OSI)

    Press release
    29 April 2025 – N°09

    SCOR SE Combined Shareholders’ Meeting
    held on Tuesday 29 April 2025

    Approval of all resolutions by SCOR SE shareholders

    The Ordinary and Extraordinary Shareholders’ Meeting of SCOR SE (the “Company”) was held today at the Company’s registered office, 5, avenue Kléber, 75016 Paris, France, under the chairmanship of Fabrice Brégier.

    All the resolutions proposed by the Board of Directors were approved.

    In particular, the shareholders decided on the payment of a dividend of EUR 1.80 per share for the 2024 financial year. The ex-dividend date is set for 2 May 2025, with payment scheduled for 6 May 2025.

    The shareholders approved the renewal of the terms of office as directors of Fabrice Brégier, Martine Gerow and Fields Wicker-Miurin by a large majority.

    They also appointed Diane Côté and Doina Palici-Chehab as directors, and Jacques Aigrain as an observer.

    Fabrice Brégier, Chairman of the Board of Directors, warmly thanked Natacha Valla and Zhen Wang, whose terms of office expired at the close of the Combined Shareholders’ Meeting, for their valuable contribution to the Board’s work.

    The details of the resolution voting results have been posted on the Company’s website at: https://www.scor.com/en/2025-combined-shareholders-meeting.

    *

    *        *

    SCOR, a leading global reinsurer

    As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying “The Art & Science of Risk,” SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society.

    The Group generated premiums of EUR 20.1 billion in 2024 and serves clients in more than 150 countries from its 37 offices worldwide.

    For more information, visit: www.scor.com

    		 Media Relations
    Alexandre Garcia
    media@scor.com

    Investor Relations
    Thomas Fossard
    InvestorRelations@scor.com

    Follow us on LinkedIn
     

    All content published by the SCOR group since January 1, 2024, is certified with Wiztrust. You can check the authenticity of this content at wiztrust.com.

    Attachment

    • SCOR Press Release

    The MIL Network –

    April 30, 2025

  • MIL-OSI Global: Where can Black children go in summer? Black families face disparities and need equitable options

    Source: The Conversation – Canada – By Juliet Bushi, Lecturer, Faculty of Education, University of Windsor

    For many Black families, summer months can be a relief and a stress. The stress is because of the precariousness of summer programming in Canada.

    Typically for families with school-aged children, summer planning usually starts in February or March, when most registration begins. The logistics around finding quality summer programming can be challenging. If you are a newcomer to Canada with financial limitations, navigating the different buffet of summer camps and affordability can be daunting.

    The stress of finding a safe space for your children while also making sure that you’re not overspending and can also provide food and shelter is a constant struggle for Canadian households, including many Black and racialized parents.

    For many Black and new immigrant families with school-aged children, the summer months pose serious mental, physical and financial challenges due to the lack of support and high costs of summer programs for school-aged children. Navigating these disparities can get complicated.

    Many Black parents are left with taking risks to ensure that they keep their jobs during the summer while juggling to find a culturally relevant program and a safe place for their children to stay during work hours.

    The cost of summer programs varies from province to province. On average, day camps can range from $35 to $500 per week, and overnight camps can range from $300 to $1,000 per week for the same period. For a family with three or more children, the cost of summer programs can total over $12,000 each year and with no tax credit, this can contribute to a negative financial investment.

    The reality is that families need accessible summer programming and education support. Prioritizing funding based on community and student needs and investment in community learning centres and programs is paramount.

    Social and economic disparities

    A lack of quality, accessible and affordable options for Black families is one reason I founded Canahari Multidisciplinary Summer Program in Regina, Sask. Canahari was designed to help address what could otherwise be the growth of social, educational and economic disparities during the summer months.

    A contrast exists between parents capable of enrolling their children in frequent literacy-enhancing activities within high-quality summer programs and those from underprivileged backgrounds.

    The latter have limited access to such high-quality resources. This is evident in their children demonstrating what educators assess as being less prepared for school and less able to engage with it than their more privileged peers.

    Studies have found that a lack of summer learning negatively impacts the educational progress of children from low socioeconomic status. These impacts further widen the achievement gap. For these reasons, implementing a national education policy to mitigate differential summer learning loss is crucial for academic success and personal development.

    Inequality gaps, complicated logistics

    Factors such as transportation, work schedules, summer programming fees, program reputation, culturally responsive summer programming and affordability are major factors contributing to educational inequality gaps. Many studies have shown social and economic status and race or ethnicity contribute to the disparities in academic achievement and summertime learning.

    In the summer, children from low-income households experience declines in reading achievement, while middle- and high-income children improve. These experiences have often been overlooked or ignored, and continue to negatively impact social connectedness, mental well-being and academic success.

    Finding an affordable summer camp is one thing. Doing so while ensuring your children feel included and safe is a top concern for Black parents (and their kids).

    Academic achievement gaps and social issues

    Scholars have examined sources of inequalities in students’ academic skills for decades, with numerous studies focusing on socioeconomic status and race or ethnicity. The complexities of these disparities challenge the meaning and intent of quality education in Canada.

    Historically, education has been a powerful tool for social, political and democratic empowerment and a means for personal growth and societal progress for Black people.

    However, Eurocentric education has been a tool that reproduces inequities and has regulated or disciplined Black students in negative ways that undermine the cultural values of Black students and parents. Not only this, these systems challenge fundamental Africentric knowledge systems and moral frameworks.

    Education scholar George Dei has argued we must disrupt the myth that mainstream education is “colour blind.”

    For Black children, schools are sites for recurring racist and traumatic encounters and summer programs are no exception. New policies are needed that disrupt and are accountable for addressing anti-Black racism and acknowledge the lived experiences and struggles of Black people.

    Nationwide policy on summer programs

    Summer programming needs to be deprivatized in Canada to ensure reimagined, consistent, equitable and accessible educational programs during summer. Summer programs are now sources of revenue, and the commercialization and marketization of summer programs make it challenging for grassroots organizations to compete in the this market.

    Recent educational reforms tend to focus on student experiences in school within the academic school calendar, while neglecting the social implications of affordable, high-quality summer programming.

    Implementing a nationwide initiative (similar to the universal child-care plan) to address these challenges appears unfeasible given current political mandates.



    Read more:
    Forgotten futures? Canada urgently needs a national discussion about young people’s futures

    With many provinces struggling with larger class sizes, underfunding and a lack of support for teachers, perhaps a more critical look at providing year-round educational support for students and teachers is the most logical thing to do.

    Planning and investment needed

    A province-wide summer program network and coalition could build accessible and culturally relevant programs that prioritize early detection of learning challenges and student needs.

    This coalition could also develop a more comprehensive policy and funding mechanism to ensure access, equity, quality and deprivatization of summer programs.

    The $10-a-day plan, introduced by the Liberal government and supported by the NDP through Canada-Wide Early Learning and Child Care agreements with provinces and territories, was developed to improve Canada’s long-standing inadequate childcare situation. A similar policy on summer programs should be envisioned.

    Advocating for policies that prioritize universal and comprehensive accessible education year round could help ensure women and low-income families are not penalized for having children. This practice also promotes true gender equity in the workforce.

    Collaboration between the federal, provincial, municipal and local governments and researchers on data collection and evidence-based funding is crucial in implementing a comprehensive program that considers the voices of parents, students and communities.

    I intend to continue to raise awareness on this issue, with attention to how the colonial ideology of educational reform that has avoided summer programming continues reproducing educational inequalities.

    So I ask: with all the complex social and educational inequalities maintained by colonial ideologies and privatized summer programs, where can Black children go in summer?

    Juliet Bushi receives funding from the organization.
    Canada Summer Jobs – Grants to hire youths in summer
    Multicultural Council of Saskatchewan

    I founded Canahari Multidisciplinary Summer Programs, which offers culturally relevant programs.

    – ref. Where can Black children go in summer? Black families face disparities and need equitable options – https://theconversation.com/where-can-black-children-go-in-summer-black-families-face-disparities-and-need-equitable-options-253013

    MIL OSI – Global Reports –

    April 30, 2025

  • MIL-OSI: 2025 first-quarter results

    Source: GlobeNewswire (MIL-OSI)

    Paris (France), April 29, 2025

    A SOLID START TO THE YEAR, WITH SUCCESSFUL REFINANCING 
    AND VESSEL CAPACITY AGREEMENT TERMINATED

        Q11
    Revenue2   $301M (+10%)
    Adjusted EBITDA2   $143M (+35%)
    Net Cash Flow   $(20)M (vs $30M)

    Including a $42M interest payment in March 2025 (historically paid in Q2)

    Sophie Zurquiyah, Chief Executive Officer of Viridien:

    “The first quarter of 2025 was marked by two significant milestones for the Group: the termination of the vessel capacity agreement, completing our transition toward an asset-light model, and the successful refinancing of our bonds. The end of the vessel capacity agreement opens a new chapter of enhanced flexibility in our cost base and stronger cash generation, while our bond refinancing reflects the financial market’s confidence in the execution of our strategy and our long-term potential.

    In parallel, our financial results for the first quarter of 2025 confirm the robust performance of our business, with commercial wins, solid profitability, and cash generation fully aligned with our long-term ambitions.

    Assuming moderate fluctuations in the oil market, we expect to achieve our target of approximately $100M in Net Cash Flow generation for the year and to continue our deleveraging journey.”

    Q1 2025 Highlights2

    • Group
      • IFRS Revenue, EBITDA and Net Income of respectively $258 million, $99 million, $(28) million
      • Group revenue increased thanks to sustained momentum in Geoscience and successful Earth Data sales. Sensing & Monitoring comparison base returned to a more normalized level
    • Group Adjusted EBITDA of $143 million, up 35%, benefited from (i) revenue growth at Geoscience, (ii) revenue growth and the end of vessel commitment penalty fees at Earth Data, and (iii) cost reductions at Sensing & Monitoring
    • Cash flow of $22 million before the $42 million bond interest payment in Q1 (historically paid in Q2). Net Cash Flow of $(20) million after interest payment and negative working capital impact
    • Final milestones of our financial roadmap achieved: successful refinancing of our April 2027 $447 million and €578 million notes, replaced with $450 million 10% and €475 million 8.5% senior secured notes due October 2030
    • Net debt at $974 million and liquidity at $257 million
    • Digital, Data and Energy Transition (DDE)
      • Revenue at $214 million, up 16% with growth both at Geoscience (+25%) and Earth Data (+7%)
      • Adjusted EBITDA at $137 million, up 32%
        • Geoscience:
          • Revenue at $110 million (+25%)
          • Solid performance driven by continued adoption of our most advanced Elastic FWI technologies worldwide
          • North America outperforming and sustained interest of MENA clients for high-quality imaging
          • Low Carbon: minerals study in Saudi Arabia and new win for carbon sequestration in the North Sea
          • HPC & Digital: new HPC customers in Materials Science and Image Rendering operating on our platform
        • Earth Data:
          • Revenue at $104 million (+7%)
          • Cash EBITDA at $39 million (+12%)
          • Early results show game-changing imaging at Laconia and environmental permit received for a program in Brazil. Active on multiple reprocessing projects worldwide
          • Low Carbon: CCUS screening package projects funded by industrial emitters in Europe
    • Sensing and Monitoring (SMO)
      • Revenue at $87 million, nearly stable (-2%), with a return to a more normalized comparison base
      • Adjusted EBITDA at $14 million (+37%), driven by cost reduction impact on profitability
        • Sustained activities in Land with strong momentum on nodal systems
        • New Businesses: new infrastructure monitoring contracts signed in North America; pursuing several geotechnical monitoring opportunities in rail and mining sectors worldwide; awarded a new project for our Marlin Ports & Logistics solution in Asia
    • Full-Year 2025 financial outlook
      • In 2025, assuming a stable E&P Capex environment, performance is expected to be driven by:
        • Geoscience: growth supported by industry-leading technology and strong backlog
    • Earth Data: stronger Cash EBITDA KPI following the end of vessel commitment penalty fees
      • Sensing & Monitoring: further savings expected from the restructuring plan
      • New Businesses: growth and first- year positive contribution to Group profitability
    • Financial objective:
      • Net Cash Flow of approximately $100 million, assuming moderate oil market fluctuations
    • Following the successful refinancing completed in Q1, Viridien will continue focusing on cash flow generation and deleveraging
    • Q1 2025 Conference call
      • The press release and presentation will be available on our website www.viridiengroup.com at 5:45 p.m. (CET)
      • An English-language analysts’ conference call is scheduled today at 6:00 p.m. (CET)
      • Participants should register for the call here to receive a dial-in number and access code, or participate via the live webcast here
      • A replay of the conference call will be available the following day for a period of 12 months in audio format on the Company’s website

    The Board of Directors met on April 29, 2025, and closed the consolidated financial statements as of
    March 31, 2025. Please note that the figures and information published in this press release have not been audited nor have they been subject to any limited review by Viridien’s statutory auditors.

    About Viridien:

    Viridien (www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resources, digital, energy transition and infrastructure challenges. Viridien employs around 3,400 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN: FR001400PVN6).

    Investors contact:

    VP Investor Relations and Corporate Finance
    Alexandre Leroy
    alexandre.leroy@viridiengroup.com
    +33 6 85 18 44 31

    Q1 2025 – Financial Results

    Key Segment P&L figures (1)
    (in millions of $)    		 2024 2025 Var.
    %
    Q1 Q1
    Exchange rate euro/dollar 1.09 1.04 (5%)
    Segment revenue 273 301 10%
    DDE 185 214 16%
    Geoscience 88 110 25%
    Earth Data 97 104 7%
    SMO 89 87 (2%)
    Land 45 51 14%
    Marine 34 25 (26%)
    Beyond the core 11 11 4%
    Segment EBITDAs 105 142 36%
    Adjusted (2)Segment EBITDAS 106 143 35%
    DDE 104 137 32%
    SMO 10 14 37%
    Corporate and other (8) (8) -1%
    Segment operating income 28 65 136%
    Adjusted (2)Segment operating income 29 66 130%
    DDE 35 66 87%
    SMO 2 8 303%
    Corporate and other (9) (9) -1%
    1) Unaudited figures
    2) Adjusted for non-recurring charges and gains    		      
    Other KPI (1)
    (in millions of $)    		 2024 2025 Var.
    %
    Q1 Q1
    Geoscience Backlog 227 329 45%
    Total Capex 58 61 5%
    EDA Library net book value (2) 471 489 4%
    Liquidity 440 257 -42%
    o.w. undrawn RCF 90 110 (3) 22%
    Gross debt (2) 1 316 1 120 -15% 
    o.w. accrued interests 43 2 -96%
    o.w. lease liabilities 108 124  15%
    Net debt (2) 966 974 1%
    1)   Unaudited figures
    2)   Post IFRS15 and 16
    3)   $125M RCF fully undrawn, o/w. $15M ancillary guarantee facility    		      
    Consolidated IFRS Income Statements (1)
    (in millions of $)    		 2024 2025 Var.
    %
    Q1 Q1
    Exchange rate euro/dollar 1.09 1.04 (5%) 
    Revenue 249 258 4%
    EBITDA 80 99 24%
    Operating Income 20 56 185%
    Equity from Investment (0) (0) 2%
    Net cost of financial debt (24) (26) 6%
    Other financial income (loss) 0 (46) –
    Income taxes 2 (13) –
    Net Income / Loss from continuing operations (3) (29) –
    Net Income / Loss from discontinued operations 0 1 –
    Net Income / (Loss) (3) (28) –
    Shareholder’s net income / (loss) (3) (28) –
    Basic Earnings per share in $ (0.42) (3.88) –
    Basic Earnings per share in € (0.38) (3.74) –

    1)   Unaudited figures

    Cash Flow items (1)
    (in millions of $)    		 2024 2025 Var.
    %
    Q1 Q1
    Segment EBITDA 105 142 36%
    Income Tax Paid (3) (4) (26%)
    Change in Working Capital & Provisions (0) (47) –
    Other Cash Items (1) (1) 13%
    Cash provided by Operating Activity 102 91 (9%)
    Total Capex (58) (61) (5%)
    Acquisitions and Proceeds of Assets 0 (1) –
    Cash from Investing Activity (58) (62) (7%)
    Paid Cost of Debt 2 (39) –
    Lease Repayment (12) (10) 17%
    Cash from Financing Activity (10) (49) –
    Discontinued Operations Acquisitions (3) (0) 89%
    Net Cash Flow 30 (20) –
    Financing cash flow (3) (129) –
    Forex and other (4) (6) –
    Net increase/(decrease) in cash 23 (155) –

    1)   Unaudited figures

    CONSOLIDATED FINANCIAL STATEMENTS – March 31, 2025

    Unaudited Interim Consolidated statement of operations

        Three months ended March 31,
    (In millions of US$, except per share data) Notes 2025 2024
    Operating revenues   257.5 248.6
    Other income from ordinary activities   0.1 0.1
    Total income from ordinary activities   257.6 248.7
    Cost of operations   (171.0) (192.8)
    Gross profit   86.6 55.9
    Research and development expenses – net   (4.0) (4.9)
    Marketing and selling expenses   (7.7) (8.8)
    General and administrative expenses   (18.1) (21.3)
    Other revenues (expenses) – net 5 (0.3) (1.1)
    Operating income (loss)   56.4 19.8
    Cost of financial debt – gross   (27.4) (27.4)
    Income provided by cash and cash equivalents   1.6 3.1
    Cost of financial debt, net   (25.8) (24.3)
    Other financial income (loss) 6 (46.2) (0.0)
    Income (loss) before incomes taxes and share of income (loss) from companies accounted for under the equity method   (15.5) (4.5)
    Income taxes   (12.9) 2.1
    Net income (loss) before share of income (loss) from companies accounted for under the equity method   (28.4) (2.4)
    Net income (loss) from companies accounted for under the equity method   (0.2) (0.2)
    Net income (loss) from continuing operations   (28.6) (2.6)
    Net income (loss) from discontinued operations   0.7 0.0
    Consolidated net income (loss)   (28.0) (2.6)
    Attributable to:      
    Owners of Viridien S.A. $ (27.8) (3.0)
    Non-controlling interests $ (0.2) 0.4
    Net income (loss) per share      
    Basic (a) $ (3.88) (0.42)
    Diluted (a) $ (3.88) (0.42)
    Net income (loss) from continuing operations per share      
    Basic (a) $ (3.97) (0.42)
    Diluted (a) $ (3.97) (0.42)
    Net income (loss) from discontinued operations per share (a)      
    Basic (a) $ 0.09 (0.00)
    Diluted (a) $ 0.09 (0.00)

    (a)   As a result of the July 31, 2024 reverse share split, the calculation of basic and diluted earnings per share for 2023 has been adjusted retrospectively. The number of ordinary shares outstanding has been adjusted to reflect the proportionate change in the number of shares

    See the notes to the Unaudited Interim Consolidated Financial Statements

    Unaudited Interim Consolidated statement of comprehensive income (loss)

        Three months ended March 31,
    (In millions of US$) Notes 2025 (a) 2024 (a)
    Net income (loss) from statements of operations   (28.0) (2.6)
    Net gain (loss) on cash flow hedges   (0.3) 0.3
    Variation in translation adjustments   9.9 (5.8)
    Net other comprehensive income (loss) to be reclassified in profit (loss) in subsequent period (1)   9.6 (5.5)
    Net gain (loss) on actuarial changes on pension plan   (0.5) 0.0
    Net other comprehensive income (loss) not to be reclassified in profit (loss) in subsequent period (2)   (0.5) 0.0
    Total other comprehensive income (loss) for the period,
    net of taxes (1) + (2)    		   9.1 (5.5)
    Total comprehensive income (loss) for the period   (18.9) (8.1)
    Attributable to:      
    Owners of Viridien S.A.   (18.8) (8.4)
    Non-controlling interests   (0.1) 0.3

    (a) Including other comprehensive income related to discontinued operations which is not material

    Unaudited Interim Consolidated statement of financial position

    (In millions of US$) Notes March 31, 2025 December 31, 2024
    ASSETS      
    Cash and cash equivalents   146.6 301,7
    Trade accounts and notes receivable, net   343.7 339,9
    Inventories and work-in-progress, net   162.4 163,3
    Income tax assets   13.5 22,9
    Other current assets, net   78.1 74,0
    Assets held for sale, net   26.4 24,5
    Total current assets   770.7 926,2
    Deferred tax assets   39.5 43,6
    Other non-current assets, net   8.6 8,9
    Investments and other financial assets, net   24.2 25,7
    Investments in companies under the equity method   5.9 1,1
    Property, plant and equipment, net   212.1 220,6
    Intangible assets, net   569.3 535,4
    Goodwill, net   1,086.4 1,082,8
    Total non-current assets   1,946.0 1,918,1
    TOTAL ASSETS   2,716.7 2,844,3
    LIABILITIES AND EQUITY      
    Financial debt – current portion 3 43.8 56,9
    Trade accounts and notes payables   101.3 120,9
    Accrued payroll costs   92.4 84,5
    Income taxes payable   17.8 20,4
    Advance billings to customers   18.1 19,2
    Provisions — current portion   18.8 19,7
    Other current financial liabilities   0.0 0,5
    Other current liabilities   207.7 182,5
    Liabilities associated with non-current assets held for sale   2.2 2,4
    Total current liabilities   502.1 507,0
    Deferred tax liabilities   18.4 18,4
    Provisions — non-current portion   30.9 28,8
    Financial debt – non-current portion 3 1,076.4 1,165,6
    Other non-current financial liabilities   0.0 0,0
    Other non-current liabilities   1.8 1,7
    Total non-current liabilities   1,127.5 1,214,5
    Common stock: 11,214,681 shares authorized and 7,161,465 shares with a €1.00 nominal value outstanding at March 31, 2025   8.7 8,7
    Additional paid-in capital   118.7 118,7
    Retained earnings   1,009.0 1,036,5
    Other Reserves   37.5 55,2
    Treasury shares   (20.1) (20,1)
    Cumulative income and expense recognized directly in equity   (1.4) (1,1)
    Cumulative translation adjustment   (103.3) (113,3)
    Equity attributable to owners of Viridien S.A.   1,049.2 1,084,7
    Non-controlling interests   38.0 38,1
    Total equity   1,087.2 1,122,8
    TOTAL LIABILITIES AND EQUITY   2,716.7 2,844,3

    See the notes to the Unaudited Interim Consolidated Financial Statements

    Unaudited Interim Consolidated statement of cash flows

        Three months ended March 31,
    (In millions of US$) Notes 2025 2024
    OPERATING ACTIVITIES      
    Consolidated net income (loss)   (28.0) (2.6)
    Less: Net income (loss) from discontinued operations   (0.7) (0.0)
    Net income (loss) from continuing operations   (28.6) (2.6)
    Depreciation, amortization and impairment   21.2 24.2
    Impairment and amortization of Earth Data Surveys   24.3 39.0
    Depreciation and amortization of Earth Data surveys, capitalized   (4.2) (3.8)
    Variance on provisions   (0.7) 0.3
    Share-based compensation expenses   1.1 0.9
    Net (gain) loss on disposal of fixed and financial assets   0.1 –
    Share of (income) loss in companies recognized under equity method   0.2 0.2
    Other non-cash items   30.9 1.2
    Net cash-flow including net cost of financial debt and income tax   44.3 59.4
    Less: Cost of financial debt   25.8 24.3
    Less: Income tax expense (gain)   12.9 (2.1)
    Net cash-flow excluding net cost of financial debt and income tax   83.0 81.6
    Income tax paid   (4.1) (3.2)
    Net cash-flow before changes in working capital   78.9 78.4
    Changes in working capital   11.6 22.3
    – change in trade accounts and notes receivable   24.9 33.6
    – change in inventories and work-in-progress   6.3 0.2
    – change in other current assets   (0.2) (2.1)
    – change in trade accounts and notes payable   (19.8) 15.4
    – change in other current liabilities   0.0 (24.8)
    Net cash-flow from operating activities   90.5 100.7
           
    INVESTING ACTIVITIES      
    Total capital expenditures (tangible and intangible assets) net of variation of fixed assets suppliers   (61.2) (58.2)
    Proceeds from disposals of tangible and intangible assets   0.0 0.5
    Dividends received from investments in companies under the equity method   – 0.2
    Total net proceeds from financial assets   – –
    Variation in other non-current financial assets   2.3 (3.3)
    Net cash-flow from investing activities   (58.9) (60.8)
        Three months ended March 31,
    (In millions of US$) Notes 2025 2024
    FINANCING ACTIVITIES      
    Repayment of long-term debt   (1,074.2) (0.2)
    Total issuance of long-term debt   964.2 –
    Call premium   (21.9) –
    Refinancing transaction costs paid   (11.7) –
    Lease repayments   (9.8) (11.8)
    Financial expenses paid   (38.8) 2.0
    Dividends paid and share capital reimbursements:      
    — to owners of Viridien   – –
    — to non-controlling interests of integrated companies   – –
    Net cash-flow from financing activities   (192.2) (10.0)
           
    Effects of exchange rates on cash   6.0 (4.1)
    Net cash flows incurred by discontinued operations   (0.3) (2.9)
    Net increase (decrease) in cash and cash equivalents   (155.0) 22.9
    Cash and cash equivalents at beginning of year   301.7 327.0
    Cash and cash equivalents at end of period   146.6 349.9

    See the notes to the Interim Consolidated Financial Statements

    Unaudited Interim Consolidated statements of changes in equity

    Amounts in millions of
    US$, except share data    		 Number of Shares issued Share capital Additional paid-in capital Retained earnings Other reserves Treasury shares Income and expense recognized directly in equity Cumulative translation adjustment Equity attributable to owners of Viridien S.A. Non-controlling interests Total equity
    Balance at January 1, 2024 7,136,763 8.7 118.7 980.4 27.3 (20.1) (1.4) (90.8) 1,022.8 41.5 1,064.3
    Net gain (loss) on actuarial changes on pension plan (1)       0.0         0.0   0.0
    Net gain (loss) on cash flow hedges (2)             0.3   0.3   0.3
    Net gain (loss) on translation adjustments (3)               (5.7) (5.7) (0.1) (5.8)
    Other comprehensive income (1)+(2)+(3) – – – 0.0 – – 0.3 (5.7) (5.4) (0.1) (5.5)
    Net income (4)       (3.0)         (3.0) 0.4 (2.6)
    Comprehensive income (1)+(2)+(3)+(4) – – – (3.0) – – 0.3 (5.7) (8.4) 0.3 (8.1)
    Exercise of warrants                      
    Dividends                 –   –
    Cost of share-based payment       0.8         0.8   0.8
    Variation in translation adjustments generated by the parent company         9.7       9.7   9.8
    Balance at March 31, 2024 7,136,763(a) 8.7 118.7 978.2 37.0 (20.1) (1.1) (96.5) 1,024.9 41.8 1,066.7
    Amounts in millions of
    US$, except share data    		 Number of Shares issued Share capital Additional paid-in capital Retained earnings Other reserves Treasury shares Income and expense recognized directly in equity Cumulative translation adjustment Equity attributable to owners of Viridien S.A. Non-controlling interests Total equity
    Balance at January 1, 2025 7,161,465(b) 8.7 118.7 1,036.5 55.2 (20.1) (1.1) (113.3) 1,084.7 38.1 1,122.8
    Net gain (loss) on actuarial changes on pension plan (1)       (0.5)         (0.5)   (0.5)
    Net gain (loss) on cash flow hedges (2)             (0.3)   (0.3)   (0.3)
    Net gain (loss) on translation adjustments (3)               9.9 9.9 0.0 9.9
    Other comprehensive income (1)+(2)+(3)       (0.5) – – (0.3) 9.9 9.0 0.0 9.1
    Net income (loss) (4)       (27.8)         (27.8) (0.2) (28.0)
    Comprehensive income (1)+(2)+(3)+(4)       (28.4)     (0.3) 9.9 (18.8) (0.1) (18.9)
    Dividends                 – – –
    Cost of share-based payment       0.7         0.7   0.7
    Variation in translation adjustments generated by the parent company         (17.7)       (17.7)   (17.7)
    Changes in consolidation scope and other       0.2         0.2   0.2
    Balance at March 31, 2025 7,161,465 8.7 118.7 1,009.0 37.5 (20.1) (1.4) (103.3) 1,049.2 38.0 1,087.2

    (a)   Pro forma following Reverse Share Split
    (b)   Reverse Share Split: Pursuant to a delegation from the Combined General Meeting of shareholders of May 15, 2024, and a sub-delegation from the Board of Directors held on the same day, the Company’s Chief Executive Officer has decided to implement a reverse share split on the basis of 1 new share of €1.00 nominal value for 100 old shares of €0.01 nominal value

    1All variations refer to the same period last year
    2Unless otherwise stated, all figures and comments are referring to “Segment” (i.e. pre-IFRS 15), as defined in the 2024 Universal Registration Document’s glossary, under section 8.7

    Attachment

    • Viridien – Q1 2025 results

    The MIL Network –

    April 30, 2025

  • MIL-OSI: Quadient SA: Availability of the 2024 Universal Registration Document

    Source: GlobeNewswire (MIL-OSI)

    Bagneux, 29 April 2025,

    Quadient (Euronext Paris: QDT) announces that it has filed its 2024 Universal Registration Document, in xHTML format, with the French Financial Markets Authority (Autorité des marchés financiers or “AMF”), on 28 April 2025.

    The 2024 Universal Registration Document notably includes:

    • The 2024 annual financial report;
    • The Board of Directors’ report on corporate governance;
    • The description of the share buyback program;
    • The reports from the statutory auditors;
    • The management report including the information related to sustainability ; and
    • The certification report on information related to sustainability.

    Quadient’s 2024 Universal Registration Document is available to the public free of charge in accordance with the applicable regulations. It can be consulted and downloaded under the heading “Investors / Regulated information” on the Group’s Investor Relations website (https://invest.quadient.com/en/) as well as on the AMF’s website (www.amf-france.org).

    ***

    About Quadient®

    Quadient is a global automation platform powering secure and sustainable business connections through digital and physical channels. Quadient supports businesses of all sizes in their digital transformation and growth journey, unlocking operational efficiency and creating meaningful customer experiences. Listed in compartment B of Euronext Paris (QDT) and part of the CAC® Mid & Small and EnterNext® Tech 40 indices, Quadient shares are eligible for PEA-PME investing.

    For more information about Quadient, visit https://invest.quadient.com/en/.

    Contacts

    Attachment

    The MIL Network –

    April 30, 2025

  • MIL-OSI: RUBIS: Publication of the 2024 Universal Registration Document

    Source: GlobeNewswire (MIL-OSI)

    Paris, 29 April 2025, 17:45 pm

    Rubis filed its 2024 Universal Registration Document with the Autorité des marchés financiers (the French Financial Markets Authority – AMF), in ESEF format, on 28 April 2025.

    This document is available on the Company’s website (www.rubis.fr/en) in the section “Investors – Regulated Information – Universal registration document including the Annual Financial Report”, on the AMF’s website (www.amf-france.org) and at the company’s registered office (46, rue Boissière – 75116 Paris – France).

    The 2024 Universal Registration Document includes notably:

    • the Annual Financial Report;
    • the Supervisory Board’s report on corporate governance;
    • the Sustainability report;
    • the Statutory Auditors’ reports on the annual financial statements, on the consolidated financial statements and on related-party agreements;
    • the report on the certification of sustainability information and verification of the disclosure requirements under Article 8 of Regulation (EU) 2020/852;
    • the description of the share buyback programme.

    The Annual Financial Report’s cross-reference table is displayed on page 446 of the 2024 Universal Registration Document.

    The English version of the 2024 Universal Registration Document will soon be released on the Company’s website.

    Contact
    RUBIS – Legal Department
    Tel: +33 (0)1 44 17 95 95

    Attachment

    • RUBIS: Publication of the 2024 Universal Registration Document

    The MIL Network –

    April 30, 2025

  • MIL-OSI: Ethical Web AI (EWA) announces ground-breaking Software partnership with AWS and full AWS Marketplace Integration

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 29, 2025 (GLOBE NEWSWIRE) — Ethical Web AI (d/b/a Bubblr Inc.) (OTCQB: BBLR), a world-leading innovator in Generative AI security solutions, today announced it had become a validated partner with the world’s leading cloud platform, Amazon Web Services (AWS), making its enterprise-grade Generative AI Security solution (AI Vault) available on AWS Marketplace.

    This is a highly significant milestone for EWA and validation of its innovative approach to enterprise software development. This collaboration brings scalable, real-time protection and governance for generative AI applications/ChatGPT directly to enterprises worldwide. Through integration with AWS Marketplace, EWA can leverage all of its expertise in scalable cloud-based deployment while offering its customers a quick and seamless method of procurement.

    With the rapid adoption of generative AI tools by both SMEs and Fortune 500 companies, organisations face a growing need to secure AI integrations, ensure data integrity and enforce compliance at scale. AI Vault offers a simple, flexible, and robust solution that allows the client to fully unlock ChatGPT’s potential to drive productivity gain whilst safeguarding against the threat of data leakage and reputational damage through the misuse of confidential company info.

    EWA has developed a fully patented solution that puts the client in control of how it manages and controls the use of ChatGPT across the enterprise. Its unique solution allows the client to define key sensitive terms that can redacted from prompts augmented by proprietary contextual parameters/criteria. This ensures that all potentially damaging/proprietary data is prevented from augmenting the public LLMs/. The solution sits within the client infrastructure/intranet, with all client-identifying data fully anonymised. Sophisticated reporting allows the client to monitor precisely how the generative AI app is being used within the organisation. AI Vault has been optimised to run solely on AWS cloud infrastructure.

    “Our Validated AWS Partner Status combined with the seamless Marketplace integration is a huge step forward for EWA and in democratising secure and responsible AI adoption at scale,” said Tom Symonds, CEO of Ethical Web. “We’re very excited to offer our customers the best in-breed AWS cloud solution and a seamless path to securing their generative AI initiatives without compromising innovation. Without robust oversight, these benefits can be overshadowed by risks to data integrity, brand reputation, and compliance.”

    Key Benefits of AI Vault on AWS Marketplace:

    • Secure ChatGPT: Real-time protection against sensitive data accidentally being shared, misuse by employees, and blocks either us as suppliers or Open AI from getting any visibility of any sensitive data or any personal data
    • End-to-end governance: Audit logging, usage visibility, and policy enforcement across teams and applications. The customer has complete control of who has access to Gen AI with complete visibility of what it is being used for.
    • Seamless AWS Integration: Using the client’s existing cloud infrastructure
    • Scalable by Design: Suitable for startups and Fortune 500s alike, with simple deployment

    Accelerating Time to Market for SMEs with AWS Marketplace

    For SMEs looking to integrate AI into their operations quickly, AWS Marketplace provides a frictionless procurement and deployment experience:

    • Fast Onboarding: Get started in minutes with preconfigured templates and integrations.
    • Flexible Billing: Consolidated billing through AWS—no News Vendors or contracts needed.
    • No Infrastructure Headaches: Deploy within your existing AWS environment without a complex setup.
    • Enterprise-Grade from Day One: Access the same security and compliance features used by global enterprises—without enterprise-level overhead.
    • Scalability as You Grow: Easily scale usage and security policies as your AI footprint expands.

    About Ethical Web AI
    Ethical Web AI is an AI-based cybersecurity technology company currently commercializing its enterprise AI Vault™ solution. Built upon its powerful IP and patent estate, it is the first in a planned suite of SaaS products to champion a private, safe, and high-value AI experience.

    AI Vault initially targets the global enterprise marketplace with innovative solutions that protect businesses from advanced threats.

    Media and investor contact – tom.symonds@ethicalweb.ai

    Safe Harbor Statement
    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management. They are subject to several uncertainties and risks that could significantly affect the Company’s current plans and expectations, future operations, and financial condition. The Company reserves the right to update or alter its forward-looking statements, whether due to new information, future events or otherwise.

    The MIL Network –

    April 30, 2025

  • MIL-OSI: ASM reports first quarter 2025 results

    Source: GlobeNewswire (MIL-OSI)

    Almere, The Netherlands
    April 29, 2025, 6 p.m. CET

    Solid start of the year, Q1 sales supported by continued AI-related strength

    ASM International N.V. (Euronext Amsterdam: ASM) today reports its Q1 2025 results (unaudited).

    Financial highlights

    € million Q1 2024 Q4 2024 Q1 2025
    New orders 697.9 731.4 834.2
    yoy change % at constant currencies 10% 8% 14%
           
    Revenue 639.0 809.0 839.2
    yoy change % at constant currencies (8%) 27% 26%
           
    Gross profit 337.8 407.2 447.8
    Gross profit margin % 52.9 % 50.3 % 53.4 %
           
    Operating result 187.1 222.3 266.2
    Operating result margin % 29.3  % 27.5  % 31.7  %
           
    Adjusted operating result 1 191.8 227.0 271.0
    Adjusted operating result margin %1 30.0  % 28.1  % 32.3  %
           
    Net earnings (losses) 173.1 225.8 (28.9)
    Adjusted net earnings  1 178.9 231.5 191.9

    1 Adjusted figures are non-IFRS performance measures.  Refer to Annex 3 for a reconciliation of non-IFRS performance measures.

    • New orders of €834 million in Q1 2025 increased by 14% over the same period last year at constant currency (increased by 20% as reported), supported by strong GAA 2nm orders, and a relatively solid contribution from the Chinese market in the quarter.
    • Revenue of €839 million increased by 26% at constant currencies (increased by 31% as reported) from Q1 of last year, above the midpoint of the guidance (€810-850 million).
    • Gross profit margin increased to 53.4%, up from both Q1 of last year (52.9%) and up from prior quarter (50.3%). The increase compared to prior quarter was driven by a favorable product and customer mix.
    • Adjusted operating result margin of 32.3% is an improvement of 2.3% points compared to the same period last year, and an increase by 4.2% points compared to the previous quarter. This was mainly due to higher gross profit margin and moderated operating expenses (with year-on-year SG&A reducing from 11.4% to 9.1% as a percentage of revenue).
    • Our reported net results included an impairment of €215 million from our stake in ASMPT, triggered by the reduced market valuation in the recent period. There is no cash impact. Following the impairment, and in line with our accounting policy, the changes in the market value of ASMPT will be included in our quarterly net results in case of further decline or until the impairment charge has been reversed.

    Comment

    “ASM continued to deliver strong results in the first quarter of 2025. Sales increased by 26% at constant currencies, to €839 million, which was above the midpoint of our €810-850 million guidance,” said Hichem M’Saad, CEO of ASM. “The year-on-year increase was largely driven by robust sales in the leading-edge logic/foundry segment as leading customers continued moving towards high-volume manufacturing of the 2nm gate-all-around (GAA) node.

    Market conditions continued to be mixed in the first quarter. Demand in the AI-related segments, including leading-edge logic/foundry and DRAM HBM memory, remained strong, while most of the other market segments remained sluggish. Bookings increased to €834 million in Q1 2025, up 14% year-on-year at constant currencies. Strong GAA orders, healthy demand from memory customers, especially for HBM-related DRAM applications, and solid demand from Chinese customers mainly contributed to the solid bookings. The cash position increased to a strong level of slightly more than €1.1 billion on the back of robust free cash flow of €264 million.

    The gross margin increased to a high level of 53.4%, largely driven by product and customer mix. The gross margin also benefited from ongoing cost reduction programs. For the full year 2025, we now expect the gross margin to be in the upper half of the target range of 46%-50%. This excludes any potential direct impact from tariffs, which at this point is difficult to predict. We have prepared various scenarios to mitigate potential financial impact, leveraging our global supply chain capabilities and diversified manufacturing operations in combination with passing on impact into the value chain.”

    Outlook

    Global trade tensions and recent announcements of reciprocal tariffs have increased macroeconomic uncertainty. It is too early to tell what the impact on GDP and the semiconductor market will be. So far, our discussions with key customers have not materially changed. 

    We expect our sales in 2025 to grow by a double-digit percentage range of a 10-20% year on year, at constant currencies, and ahead of the WFE market, which is forecast to grow slightly this year. While we have reasonable visibility that we will achieve the lower end of the range, achieving the higher end will require some upside opportunities to materialize which at this point is still uncertain. In view of the recently increased exchange rate volatility and ASM’s significant US$ revenue exposure (>80% of sales) we decided to change our guidance from absolute Euro amounts to growth rates at constant currencies. 

    For Q2 2025 we expect sales to increase compared to Q1 by a range of +1% to +6% at constant currencies. This implies continued double-digit year-on-year sales growth in Q2 2025 at constant currencies.

    We continue to be confident that our gate-all-around sales will increase strongly in 2025. Supported by robust HBM-related DRAM demand, we expect healthy memory sales in full year 2025, albeit lower than the very strong level in 2024. The power/analog/wafer market is still in a cyclical downturn and the outlook for this segment has further weakened for the rest of the year. 

    Underpinned by strong R&D engagements, we believe ASM remains well positioned in the coming years to benefit from increasing ALD and Epi intensity with the transition to a tighter and more complex device architecture in logic with GAA and in DRAM with 4F2.

    Annual General Meeting

    On March 27, 2025, ASM published the agenda, convocation, and other materials for the 2025 Annual General Meeting (AGM), to be held on May 12, 2025, in Almere, which as also earlier announced, includes, amongst other things, resolutions on:

    • the annual accounts of 2024;
    • the remuneration report 2024;
    • the proposal to declare a regular dividend of €3.00 (three euros) per common share;
    • the reappointment of Mr. Verhagen (for two years) as member of the Management Board;
    • the reappointment of Ms. Van der Meer Mohr (for four years), Mr. Sanchez (for four years) and Ms. Kahle-Galonske (for one year) as members of the Supervisory Board;
    • the appointment of EY Accountants B.V. as auditor to audit the annual accounts for the financial year 2026 and as assurance provider of sustainability information for the financial years 2025 and 2026.

    Please refer to the AGM documents available on our website for more detailed information.

    Share buyback program

    In our Q4 press release, ASM announced that the Management Board has authorized a new share repurchase program of up to €150 million of the company’s common shares for the 2025/2026 period. As announced in a separate press release today, the share buyback program will start on April 30, 2025.

    About ASM

    ASM International N.V., headquartered in Almere, the Netherlands, and its subsidiaries design and manufacture equipment and process solutions to produce semiconductor devices for wafer processing, and have facilities in the United States, Europe, and Asia. ASM International’s common stock trades on the Euronext Amsterdam Stock Exchange (symbol: ASM). For more information, visit ASM’s website at www.asm.com.

    Cautionary Note Regarding Forward-Looking Statements: All matters discussed in this press release, except for any historical data, are forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These include, but are not limited to, economic conditions and trends in the semiconductor industry generally and the timing of the industry cycles specifically, currency fluctuations, corporate transactions, financing and liquidity matters, the success of restructurings, the timing of significant orders, market acceptance of new products, competitive factors, litigation involving intellectual property, shareholders or other issues, commercial and economic disruption due to natural disasters, terrorist activity, armed conflict or political instability, changes in import/export regulations, pandemics, epidemics and other risks indicated in the company’s reports and financial statements. The company assumes no obligation nor intends to update or revise any forward-looking statements to reflect future developments or circumstances.

    This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Quarterly earnings conference call details

    ASM will host the quarterly earnings conference call and webcast on Wednesday, April 30, 2025, at 3:00 p.m. CET. Conference-call participants should pre-register using this link to receive the dial-in numbers, passcode and a personal PIN, which are required to access the conference call. 
    A simultaneous audio webcast and replay will be accessible at this link.

    Contacts  
    Investor and media relations Investor relations
    Victor Bareño Valentina Fantigrossi
    T: +31 88 100 8500 T: +31 88 100 8502
    E: investor.relations@asm.com E: investor.relations@asm.com

    The MIL Network –

    April 30, 2025

  • MIL-OSI Global: What interviews with ordinary Germans living under the Nazis can teach us about our current politics

    Source: The Conversation – UK – By Melissa Butcher, Professor Emeritus, Social and Cultural Geography, Royal Holloway University of London

    “Nazi” and “fascist” are words being used a lot these days; thrown about as descriptions of contemporary populist leaders or to mark out disagreement with someone. Comparisons with 1930s Germany don’t always suit the complexity of the moment we live in, but there are resonances. The choices people are having to make in the face of authoritarianism is among them.

    Darkness Over Germany, originally published in 1943, is a collection of conversations with people having to make difficult choices as the Nazi party gradually takes control of their country. The author, Amy Buller, lived and studied in Germany between 1912 and 1914, maintaining personal and professional networks there throughout her life.

    Concerned by what she saw happening in the 1930s, she established an Anglo-German discussion group. She took academics from the UK to Germany to try to understand the country’s slide into dictatorship.

    Democracy in decline? The risk and rise of authoritarianism

    Democracy is under pressure around the world in 2025. But is this part of a larger historical cycle or does it signal a deeper, more fundamental shift? Join us for a free event in central London on May 8 to discuss these important questions. Come for a panel discussion and stay for food, drinks and conversation.

    Get tickets here

    The conversations, with teachers, priests, military officers, tradesmen, civil servants, students and lawyers, point to some of the underlying economic and emotional drivers of authoritarianism. People speak of grievances related to humiliation and poverty. This is coupled with a desire for a leader who will make the pain of these things disappear.

    Hitler promised to make Germany great again, for which some expressed gratitude, including a skilled tradesman who had spent four years in the trenches of the first world war: “I would ask you not to sneer at an honest attempt to meet a terrible situation and I might add that I am profoundly grateful to the Führer for this idea, which has saved my own sons from the destruction of unemployment.”

    As Buller remarked in a lecture in 1942: “When men are drowning they will not be very particular about the type of rope that picks them up”.

    Amy Buller’s Darkness over Germany.
    Wikipedia

    Faced with fascism, ordinary Germans had to make difficult choices, described as “agony” by a teacher in Darkness Over Germany. At times, there is no good choice available. There were those who decided it was impossible to stay and chose exile. Some became less visible, keeping their heads down and letting it blow over, fatalistically choosing to do nothing because they felt there was nothing to be done.

    There was a choice to stay but openly defy the authorities, possibly resulting in detention or worse. But also a choice to stay, pay lip service to the regime, and try to undermine it where possible, to prevent regime-aligned people taking up another place. There was also the option to join the regime.

    All these decisions reflect how an individual may imagine the future, with despair for some but for others, a mercurial hope – that a new order will take away the humiliations of the past and bring economic prosperity. Or that the current moment is just an aberration and that this too will pass.

    As a young German officer noted: “I would put up with almost anything if in my lifetime this feeling of defeat could be removed from the German army. I know much is bad in what the Nazis do, but it will not last. It is the sort of thing that happens in revolutions.”

    These descriptions of personal responses to the rise of fascism in 1930s Germany echo what I heard in my research talking to voters across the US leading up to Donald Trump’s re-election. There is economic and social rupture as a result of globalisation, financial crises, the legacies of racism, secularism and an exponentially expanding digital life.

    Emotional drivers emerge, expressed as grievance, shame and humiliation. There is a sense of “losing our country” to an enemy, while precarity and crises are accessed daily in doom-laden echo chambers.

    People try to imagine a future out of this state of perma-crises, one in which they will feel better. There are compromises and trade-offs that have to be made, at times with the added stress of having to make choices on behalf of others, such as children. These are painful struggles that require, at times, holding disparate ideas simultaneously.

    In Darkness Over Germany, Buller showed it was possible for some to “hate the Nazis and love England” while still fighting for Germany, if doing so restored pride and economic security. Likewise in the US today, it is possible to find Trump abhorrent but still vote for him, as some of my interviewees did.

    The slide into authoritarianism isn’t “madness” or “evil”. It rests on millions of individual choices made every day by ordinary people: it is the banal, as philosopher Hannah Arendt pointed out in her work on violence and totalitarianism. It is also exhausting and sometimes dangerous for those living under the strain of compromise, as Buller’s empathetic conversations show.

    Darkness Over Germany is a reminder why such conversations are necessary. Not to condone or to cooperate with authoritarianism, as some recent ill-advised attempts for rapprochement between politicians, media personalities and Maga have shown in the US, but to understand the difficult choices that have to be made at times in order to provide people with alternatives.

    This article is part of a series on democracy and the risk of totalitarianism. Join us to find out more about this topic at a free event in London on May 8. Meet the author and Conversation editors, with food and drink included. Get tickets here.

    Melissa Butcher has received funding from UKRI and the ERC. She is a member of the Green Party.

    – ref. What interviews with ordinary Germans living under the Nazis can teach us about our current politics – https://theconversation.com/what-interviews-with-ordinary-germans-living-under-the-nazis-can-teach-us-about-our-current-politics-255401

    MIL OSI – Global Reports –

    April 30, 2025

  • MIL-OSI Global: From diet to drugs: what really works for long-term weight loss

    Source: The Conversation – UK – By Reiner Jumpertz-von Schwartzenberg, Professorship for Clinical Metabolism and Obesity Research, University Hospital and Medical Faculty, University of Tübingen

    voronaman/Shutterstock

    More than 2.5 billion adults worldwide are currently overweight or obese, according to estimates from the World Health Organization. This staggering number highlights a growing global health crisis. Obesity isn’t just about weight – it’s a powerful risk factor for a range of serious diseases, including type 2 diabetes, kidney disease, heart attacks, and strokes. As awareness grows, more people are asking a critical question: how can I lose weight and stay healthy in the long run?

    Obesity is a complex condition with many contributing factors. It’s not simply a result of eating too much or exercising too little. For many people, emotional and psychological stress plays a major role. Work-related pressure, financial concerns, family issues, or social anxiety can all lead to emotional eating. Others may develop obesity as a result of depression, which often disrupts both eating patterns and motivation for physical activity.

    In addition, modern lifestyles can make it easier than ever to gain weight. Many of us spend long hours sitting – at desks, in cars, or on the couch – and highly processed, calorie-dense foods are readily available and heavily marketed. This combination of behavioural, psychological, social and environmental factors creates a situation where weight gain becomes increasingly difficult to avoid and even harder to reverse.



    Read more:
    Beyond blame: The role of malfunctioning fat tissue in the disease of obesity

    Because obesity has many causes, it also requires a multifaceted solution. The most effective treatments follow a multimodal approach, where healthcare professionals – psychologists, nutritionists, and physicians – work together to support people on their weight loss journey. This team-based approach not only addresses diet and exercise but also tackles underlying emotional and mental health challenges.

    This strategy is especially effective for people with prediabetes, a condition where blood sugar levels are elevated but not yet in the diabetic range. Research has shown that lifestyle changes guided by a multidisciplinary team can significantly reduce the risk of developing full-blown diabetes

    While losing 5–7% of body weight is a good target for reducing health risks, recent research from our team in Tübingen, Germany, shows that combining weight loss with blood sugar control is even more effective. Data from a different study indicates that focusing on both aspects goes along with fewer complications from diabetes, such as kidney damage and issues affecting small blood vessels.

    Visceral fat

    Why is this combination so powerful? It turns out that people who manage to both lose weight and lower their blood sugar levels tend to reduce visceral fat – the type of fat stored around internal organs in the abdomen.



    Read more:
    Belly fat linked to higher risk of premature death, regardless of your weight

    Visceral fat is particularly dangerous because it triggers inflammation in the body, which in turn can reduce the effectiveness of insulin, the hormone that regulates blood sugar.

    Fortunately, certain lifestyle changes specifically help reduce visceral fat. For instance, regular physical activity – especially aerobic exercise – and diets rich in polyunsaturated fatty acids (found in nuts, seeds, fish and plant oils) have been shown to be especially effective. Among various eating plans, the Mediterranean diet, which emphasises whole grains, healthy fats, vegetables and lean proteins, is particularly effective.

    Combining regular exercise with a Mediterranean-style diet is not only good for weight loss but also for long-term cardiovascular and metabolic health. However, maintaining these habits over time remains a challenge for many.

    Research shows that a significant portion of those who lose weight will regain it within a few years. As weight returns, so too do associated health risks like diabetes, high blood pressure and high cholesterol. This cycle of weight loss and regain can be frustrating and emotionally taxing, leading many to seek other options for more sustainable results.

    Medication and surgery

    In recent years, GLP-1 receptor agonists – a class of medications originally developed to treat diabetes – have shown promise in promoting weight loss. These drugs mimic the hormone GLP-1 (glucagon-like peptide-1), which is released by the gut after eating. It helps regulate appetite by promoting feelings of fullness and also encourages the release of insulin, lowering blood sugar.

    However, GLP-1-based medications are increasingly used for cosmetic weight loss, raising ethical and safety concerns. While these drugs can be effective, their long-term impact on people without obesity is still poorly understood. Side effects can include nausea, vomiting and more serious issues, so their use should always be guided by a medical professional.

    One major limitation of GLP-1 medications is that the benefits typically wear off after stopping the medication, resulting in rapid weight regain. So, long-term or even permanent use may be required to maintain health benefits.

    For people with severe obesity, particularly those with serious health complications like type 2 diabetes or heart disease, bariatric surgery can be life-changing. Surgical procedures such as gastric bypass or sleeve gastrectomy reduce the size of the stomach and, in some cases, alter gut hormone signalling. The result is significant, sustained weight loss and a reduced risk of obesity-related diseases, including a significant reduction in the risk of heart disease and premature death. Bariatric surgery isn’t for everyone, but when appropriate, it remains one of the most effective interventions available.

    Researchers are now developing new medications that combine the effects of multiple gut hormones to enhance weight loss. Some of these drugs may achieve results comparable to bariatric surgery, but most are still being tested in clinical trials.

    Winning combination

    For people beginning their weight loss journey, a combination of physical activity and a healthy diet – such as the Mediterranean diet – is still the best place to start. These changes, if sustained, can lead to long-term improvements in weight, blood sugar and overall health.

    For those with elevated blood sugar, targeting visceral fat through combined lifestyle changes and blood sugar management is especially important. And for people who struggle with obesity and related health conditions, medical therapies and surgical options offer powerful tools to support lasting change.

    Ultimately, the key to lasting weight loss and improved health lies in understanding that there is no one-size-fits-all solution. It’s about finding the right combination of support, strategy and science that works for each person.

    Reiner Jumpertz-von Schwartzenberg works for the Institute for Diabetes Research and Metabolic Diseases of the Helmholtz Center Munich at the University of Tübignen, Germany . He receives funding from the German Center for Diabetes Research (DZD), the German Diabetes Society, the Helmholtz Association and the CMFI Cluster of Excellence in Tübingen. He is receiving funds from collaborating in clinical studies with Astra Zeneca, Lilly and Boehringer which all go to the University Clinic Tübingen.

    – ref. From diet to drugs: what really works for long-term weight loss – https://theconversation.com/from-diet-to-drugs-what-really-works-for-long-term-weight-loss-254551

    MIL OSI – Global Reports –

    April 30, 2025

  • MIL-OSI USA: McClellan Introduces RESEARCHER Act to Address Financial Insecurity for Graduate and Postdoctoral Researchers

    Source: United States House of Representatives – Congresswoman Jennifer McClellan (Virginia 4th District)

    Washington, D.C. – Today, Congresswoman Jennifer McClellan (VA-04) reintroduced the Relieving Economic Strain to Enhance American Resilience and Competitiveness in Higher Education and Research (RESEARCHER) Act, a bill to address the financial instability for graduate and postdoctoral researchers.

    “Our nation’s graduate and postdoctoral researchers are the building blocks of our nation’s global competitiveness, yet too often we fail to even provide them a living wage, creating a research pipeline that shuts out too many talented researchers, especially those from low-income families,” said Congresswoman McClellan. “The RESEARCHER Act would support our young researchers, invest in their scientific and economic contributions, and build the STEM workforce of tomorrow. ”

    The RESEARCHER Act:

    • Directs the White House Office of Science and Technology Policy (OSTP) to develop a set of policy guidelines for federal research agencies to address the financial instability of graduate and postdoctoral researchers.
    • Requires federal research agencies to develop and implement policies based on OSTP’s guidelines.
    • Amends the CHIPS and Science Act to supplement data collection on financial instability of graduate and postdoctoral researchers and allows the National Science Foundation to award grants to research this issue.

    The bill is endorsed by the American Association of Immunologists, American Geophysical Union, American Mathematical Society, American Physical Society, Association for Women in Science, MIT Graduate Student Council, National Postdoctoral Association, and University of California System.

    Read the RESEARCHER Act bill text here. Read the one-pager here.

    ###

    MIL OSI USA News –

    April 30, 2025

  • MIL-OSI USA: Warner, Young Push DOJ, FTC to Use Every Available Resource to Protect Americans’ Data Amid 23andMe Bankruptcy Proceedings

    US Senate News:

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

    WASHINGTON – U.S. Sen. Mark R. Warner (D-VA), Vice Chairman of the Senate Select Committee on Intelligence, and Sen. Todd Young (R-IN), a member of the Senate Select Committee on Intelligence, wrote to leadership at the Department of Justice (DOJ) and Federal Trade Commission (FTC) expressing the need for the agencies to exercise all available authorities to protect the sensitive genomic information of Americans, including in the bankruptcy proceedings of 23andMe, a personal genomics and biotechnology company that holds the DNA and sensitive information of millions of individuals.

    The senators highlighted the attempts by the People’s Republic of China (PRC) and other foreign adversaries to collect this type of genomic data from Americans and the various ways in which the PRC has used sensitive biometric data for surveillance efforts.

    “As the Chinese government has realized, genomic data is incredibly valuable. Biological data is critical to biomedical discovery, particularly when, as here, it contains substantial amounts of personal genomic data. It can be used to create, design, and optimize everything from biopharmaceuticals and medical devices to optimizing AI models for medical applications,” the senators wrote. “The PRC also has demonstrated a sustained effort to leverage genomic and other biometric data for extensive surveillance; accessing this data – either directly or indirectly – could further enable PRC transnational surveillance, including posing counter-intelligence threats to the United States. In addition, genomic data can be used to create dual-use technologies that, on the one hand, could help create vaccines for diseases, but on the other hand, can be weaponized by our adversaries to for malign intent.”

    While applauding the recent actions by the Justice Department in current proceedings, the senators underscored the need to take more steps to ensure that bad actors are prevented from acquiring, legally or illegally, Americans’ genomic information. 

    The senators continued, “In addition to the Department’s recent filing, and any anticipated CFIUS review, the Department, in conjunction with the Commission and other U.S. agencies as appropriate, must closely monitor the sale or transfer of, or access to, 23andMe’s genomic databank, regardless of whether that activity is in the ordinary course of business, for compliance with all applicable statutes related to national security and consumer protection.”

    This is the latest effort by Sen. Warner to safeguard Americans’ data and sensitive information from adversaries. As Vice Chairman of the Senate Select Committee on Intelligence, Sen. Warner has worked to ensure the U.S. is prepared to counter threats posed by foreign adversaries including the PRC across various sectors. Sen. Warner spearheaded the push to force CCP-based Bytedance to divest from TikTok in order to allow the app to continue operations in the United States. Last year, Sen. Warner introduced the Countering CCP Drones and Supporting Drones for Law Enforcement Act, legislation to cut off dangerous CCP drone companies from the U.S. telecommunication infrastructure. Sen. Warner also introduced bipartisan and bicameral legislation to improve information sharing between private companies and the Intelligence Community in order to mitigate the threat that foreign adversaries including the CCP pose to United States companies in foreign jurisdictions on projects relating to energy generation and storage, including in the critical minerals industry, and earlier this year, Sen. Warner introduced legislation aimed at shoring up America’s response to financial threats stemming from the PRC.

    A copy of letter is available here and text is below.

    Dear Attorney General Bondi and Chairman Ferguson:

    We write to urge the Department of Justice (“Department”) and the Federal Trade Commission (“Commission”) to exercise the full scope of their legal and statutory authorities in 23andMe Holding Co. (“23andMe”)’s bankruptcy proceeding. We commend the Department on its April 22, 2025 filing in the 23andMe bankruptcy proceeding, recognizing that the Committee on Foreign Investment in the United States (CFIUS) should review this transaction in light of the substantial national security concerns involved. However, additional action from agencies are necessary in order to prevent adversaries, including the People’s Republic of China (PRC), from acquiring millions of Americans’ genomic data.

    Chinese authorities have already collected genomic data on millions of their own citizens, and continue to actively target foreign companies, including in the U.S., for acquisition or investment, as well for theft, in order to obtain foreign individuals’ genomic data, creating serious implications for national security, public health, economic security, and Americans’ privacy. As the Chinese government has realized, genomic data is incredibly valuable. Biological data is critical to biomedical discovery, particularly when, as here, it contains substantial amounts of personal genomic data. It can be used to create, design, and optimize everything from biopharmaceuticals and medical devices to optimizing AI models for medical applications. The PRC also has demonstrated a sustained effort to leverage genomic and other biometric data for extensive surveillance; accessing this data – either directly or indirectly – could further enable PRC transnational surveillance, including posing counter-intelligence threats to the United States. In addition, genomic data can be used to create dual-use technologies that, on the one hand, could help create vaccines for diseases, but on the other hand, can be weaponized by our adversaries to for malign intent.

    In order to prevent China from weaponizing this data, or outcompeting the U.S. economically, the U.S. must urgently prioritize the protection of biological and genomic data, particularly of Americans, starting with that held by 23andMe.

    As the Department notes in its recent filing, its Data Security Program must be better utilized to ensure the protection, and prevent the acquisition, of Americans’ sensitive genomic data. In addition to the Department’s recent filing, and any anticipated CFIUS review, the Department, in conjunction with the Commission and other U.S. agencies as appropriate, must closely monitor the sale or transfer of, or access to, 23andMe’s genomic databank, regardless of whether that activity is in the ordinary course of business, for compliance with all applicable statutes related to national security and consumer protection. Chairman Ferguson’s letter to the Office of the U.S. Trustee lays out a clear rationale for robust oversight by the Justice Department over the legal obligations and protections that 23andMe owes its customers (“users”). 23andMe’s users also should have the ability to remove their genetic data from acquisition by a foreign government or entities under the control or influence of a foreign government, including data associated with other personally-identifiable information and any other data generated by 23andMe that uses genetic data in the aggregate.

    23andMe’s users provided their sensitive, personal genetic data to a privately-owned U.S. company, potentially without fully understanding the implications of this data falling into the hands of adversaries, including cybercriminals and foreign nation-states. Further, the genetic information held in 23andMe’s databank has implications for relatives of 23andMe users who share common genetic markers, creating additional privacy concerns for such individuals who had no opportunity to consent to how 23andMe’s data could be used in ways that affect them.

    Outside of this proceeding, we urge the Department, the Commission, and other relevant federal entities to closely monitor future transactions, and use all levers as appropriate, where foreign entities, particularly those under the control or influence of foreign nations of concern, are attempting to purchase – through bankruptcy proceedings or otherwise-Americans’ sensitive biologic and genomic data. To this end, we encourage the DOJ to evaluate any appropriate updates to its recently-released Final Rule,6 implementing Executive Order 14117 on “Preventing Access to Americans’ Bulk Sensitive Personal Data and United States Government-Related Data by Countries of Concern”, to address any novel risks posed by potential acquisition (and resale) of 23andMe data by covered vendors.

    In addition, the Department and the Commission must work with lead agencies to support the cybersecurity of genomic data. In March 2022, 23andMe suffered a security breach that compromised the genetic information of millions of users, underscoring concerns around genomic data privacy and misuse.

    In short, it is paramount to our national and economic security that there is a whole-of­ government approach to protecting Americans’ sensitive genomic data, including by preventing malign entities from gaining access to such data through commercial acquisition, cyberattacks, or other illicit means. We remain committed to working with the Department, the Commission, and the Administration broadly on this issue.

     

    MIL OSI USA News –

    April 30, 2025
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