NewzIntel.com

Category: Economy

  • MIL-OSI USA: H.R. 1549, China Financial Threat Mitigation Act of 2025

    Source: US Congressional Budget Office

    H.R. 1549 would require the Secretary of the Treasury, within one year of enactment, to study and report on the financial exposure of the United States and the global economy to China. The bill also would direct the Secretary to consult with the Board of Governors of the Federal Reserve System, the Securities and Exchange Commission, the Commodity Futures Trading Commission, and the Department of State for the study.

    Using information about the cost of similar requirements, CBO estimates that implementing H.R. 1549 would cost federal agencies $1 million over the 2025‑2030 period. Any spending by those agencies would be subject to the availability of appropriated funds.

    Costs incurred by the Federal Reserve reduce remittances to the Treasury, which are recorded in the budget as revenues. CBO estimates that the reduction in remittances attributable to implementing H.R. 1549 would not be significant over the 2025-2035 period.

    The CBO staff contacts for this estimate are Matthew Pickford (for federal agencies) and Nathaniel Frentz (for the Federal Reserve). The estimate was reviewed by H. Samuel Papenfuss, Deputy Director of Budget Analysis.

    Phillip L. Swagel

    Director, Congressional Budget Office

    MIL OSI USA News –

  • MIL-OSI USA: Hoyer Statement on Trump’s Sweeping Tariffs on U.S. Trade Partners

    Source: United States House of Representatives – Congressman Steny H Hoyer (MD-05)

    WASHINGTON, DC – Congressman Steny H. Hoyer (MD-05) released the following statement today on President Donald Trump imposing sweeping tariffs on virtually all imports into the United States:

    “For years we’ve been told to take Donald Trump seriously, but not literally. We were told his incoherent economic philosophy and outrageous rhetoric were merely negotiating tactics for a master in the art of the deal.

    “What he did yesterday ought to throw any such nuanced interpretation aside. What he did was stand in the Rose Garden and proudly announce the largest tax increase on middle-class Americans in our nation’s history – one that will cost the average American family thousands of dollars each year.

    “Faced with financial market panic, his administration is fanning out to describe the impact of his tariffs as ‘short term pain,’ as if that pain were not both serious and literal for everyday Americans. Across the country today, Americans are grappling with the reality of higher costs, financial insecurity, and job uncertainty as a direct result of President Trump’s tax increase.”

    MIL OSI USA News –

  • MIL-OSI USA: Feenstra Supports Legislation to Keep Rural Hospitals and Healthcare Facilities Open

    Source: United States House of Representatives – Representative Randy Feenstra (IA-04)

    HULL, IOWA – In February, U.S. Rep. Randy Feenstra (R-Hull) cosponsored the Rural Health Care Facility Technical Assistance Program Act, which would codify the Rural Hospital Technical Assistance Program at the U.S. Department of Agriculture (USDA) and rename it to the Rural Health Care Facility Technical Assistance Program.

    This program provides technical assistance to rural hospitals and healthcare facilities to improve care outcomes, support financial stability, increase the use of telehealth services, promote operational efficiencies, and implement best practices.

    “Ensuring that our rural hospitals and healthcare facilities remain open and operational is critical to the health and wellbeing of our families and communities. We need to make proactive investments in our rural healthcare infrastructure so that we can reverse the alarming trend of hospital closures in rural areas,” said Rep. Feenstra. “That’s why I’m glad to support legislation to codify an important USDA program that provides targeted technical assistance to rural hospitals and healthcare clinics. This initiative helps keep healthcare facilities open by promoting best practices, supporting financial stability, retaining healthcare professionals, and providing quality care for patients. As a father of four and member of both the House Agriculture Committee and House Ways and Means Committee, I will continue to advocate for policies that protect our rural hospitals and deliver affordable, reliable healthcare for our families.”

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Keynote Remarks of Commissioner Johnson for Governing Data at IIB&L Center and Yale Law Journal of Law & Technology at Yale Law School

    Source: US Commodity Futures Trading Commission

    Remarks as Prepared
    Introduction
    Good afternoon. Springtime is always a nice time of year to be in New Haven and it is generous of the Yale Law School to host this symposium. Thank you Milhailis [Diamantis], Rishab [Nithyanand], the Iowa Innovation Business & Law Center, and the Yale Journal of Law & Technology for the significant time and effort you expended to organize and execute this symposium. 
    As I have indicated throughout my time as a Commissioner, I am delighted to join you in carefully thinking about the increasing salience of better data governance.[1] I am hopeful that the discussions at this symposium will articulate and enhance guardrails for comprehensive privacy law and better data governance. I am also hopeful that our discussions and advocacy will influence federal and state legislatures and financial market regulators, among others, to adopt, implement, and enforce law, regulation, and policy that lead to better data governance. 
    In my time with you, I would like to highlight two issues that may deeply impact the shape and development of data governance in financial markets – emerging artificial intelligence (AI) technologies and critical third-party service providers.[2] We can describe these two issues as twin peaks – arising rapidly and substantially altering the structure of financial markets.
    The twin peaks at the center of our markets reflect a shift to data-centered markets influenced by the rise of increasingly sophisticated machine learning and generative AI technologies and a remarkable uptick in market participants’ reliance on critical third-party service providers. The peaks are similar but not identical. Yet, each has the potential to deeply impact market structure and how we supervise financial markets. 
    First, the integration of data-fueled artificial intelligence (AI) technologies is indisputably altering financial markets infrastructure. As AI takes center stage in many sectors of our economy and society, financial services firms report interests, investments, and incorporation of AI technologies in data analytics, trade data analysis, trade clearing, reconciliation, and settlement, risk management, surveillance, margin and collateral determinations, and administrative, compliance and back-office services.   
    Second, developing and updating data-fueled technologies can be expensive. Firms often lack the resources to independently develop certain technologies. The cost of acquiring or developing AI or data-centered technologies may be prohibitive for many businesses. As a result, many financial services firms and others must outsource or seek to license data-centered technologies or models. For smaller and medium sized firms, reliance on third-party service providers is often imperative.
    As we begin to consider these twin peaks impacting the operational infrastructure and supervision of our markets, it is worth examining the benefits of novel technologies, whether these changes in market infrastructure may lead to new risks or distinct risks, and the extent to which existing risk management practices and regulations are fit for purpose. 
    I. Evolving Market Infrastructure 
    A recent study of nearly two thousand financial services firms reports that more than three-quarters of the firms included rely on AI to assist with various aspects of financial reporting and other compliance obligations.[3] Another study shows a significant amount of investment capital moving forward will be dedicated to implementing and integrating AI-based technologies.[4] Commodity Futures Trading Commission (CFTC) regulated market participants have long relied on predictive technologies – a category of technologies that comprise part of the universe of technologies that may be described as AI.[5] In recent years, a number of CFTC-regulated market participants have entered into strategic partnerships with major technology providers.[6] Today, market participants use AI for diverse trade execution, operational, and administrative functions including market intelligence, monitoring, fraud detection, and cybersecurity risk management.[7]
    The CFTC supervises areas of financial markets where market participants create, distribute, trade, and transfer financial market products. For financial market regulators, governing data proves challenging, in part, because market participants may rely on intermediaries that are not registered with financial market regulators. Regulators may lack visibility or supervisory authority over these intermediaries. As the market for novel assets such as digital assets grow, this challenge continues to present similar concerns.
    As noted at the outset, adoption of critical third-party service providers parallels the rapid adoption of AI. According to recent studies, in 2021 cloud services accounted for less than 10% of critical business initiatives. By 2027, it is expected that cloud services will account for 50% of critical business initiatives.[8] To that end, and to bolster capabilities to utilize AI, cloud services have seen massive investments to infrastructure, with $79 billion spent in the second quarter of 2024 alone.[9]
    A. The Rise of AI
    While the use cases within and beyond finance are quite diverse, common threads bind the “algorithmic revolution” and increased reliance on critical third-party service providers. Artificial intelligence technologies can automate decision-making tasks and certain subsets of artificial intelligence may execute these tasks autonomously. 
    For decades, market participants, researchers, academics, and public interest advocates have assessed the impacts of algorithmic trading in conventional financial markets. Some suggest that artificial intelligence introduces existential questions for markets;[10] others underscore the ethical, civil, or human rights implications of adopting artificial intelligence.[11] As debates proliferate regarding the merits and limitations of automated decision-making technologies, a steady drumbeat declares the future of finance.[12] 
    Notwithstanding the utility and benefits that accompany AI, there are risks and notable limitations. A robust literature has developed cataloguing and analyzing the ethical implications that may arise.[13] In addition, bad actors have discovered AI and the potential to use AI to manipulate markets.[14]
    Voices at international convenings of market participants and regulators increasingly reflect a call for an open dialogue regarding benefits and thorny issues that arise as we increasingly rely on AI and third-party service providers. Before turning to proposed interventions, let’s explore the second phenomenon changing market infrastructure – the increasing importance of technology-based critical-third party service providers. 
    B. Critical Third-Party Service Providers 
    Commission-regulated market participants often use third-party vendors to support their operations, risk management, compliance, and technology infrastructure. In an era of data-fueled technologies, cloud-based storage platforms and data centers serve as an increasingly important group of critical third-party service providers. The services of cloud-based platforms, data centers, and other third-party service providers vary; and, in some instances, the services are not critical to the continuity of the market participant’s business. In other instances, third-party services providers offer services which are essential to market participants’ day-to-day operations. 
    A glance around the “trading floor” of any financial services firm these days reveals significant reliance on technology. Many firms rely on innovative technologies for the continuous and adequate functioning of their operations.[15] As data-driven technologies proliferate, markets have witnessed a growing trend for participants to rely on cloud-based technologies. In fact, several of our largest market participants have entered strategic partnerships with cloud providers to enable them to handle exceptional volumes of data and enhance their scalability.[16] Cloud based architecture also offers on-demand computing power for risk analytics and trade processing, allowing firms to handle massive amounts of transactions and data in times of high volume, and scale down during slower periods. In many ways, cloud services and AI fit hand-in-glove because of the cloud-based computing power required to execute certain AI technologies.[17] 
    Congress, regulators, market participants, and many stakeholders have identified risks related to how our markets operate – robust information security management, reliability and resilience, effective contingency planning, and communication risks.[18] 
    Our regulations reflect expectations regarding how registered market participants will comply with this framework. In my role as a Commissioner and sponsor for the Market Risks Advisory Committee, I have led a diverse group of stakeholders in detailing the benefits and concerns that arise as these twin peaks increasingly influence our markets. Here, let’s consider two specific risks that have emerged as we navigate this rise of data-fueled, innovative technologies – concentration and cyber risks – which will be central questions for regulators in the era of data governance. 
    II. Managing Data Governance and Data Security Risks 
    A few large firms comprise the most prevalent AI and cloud-based technology services providers.[19] The limited diversity of service providers and lack of competition may raise market concentration concerns.[20]
    A. Concentration Risks
    Evidence indicates that there are a limited number of both AI and critical service providers for financial market participants. A recent survey of the AI industry suggests that ten foundational model providers account for almost ninety percent of the market.[21]
    The top three cloud providers, Amazon, Microsoft, and Google, respectively, account for 73% percent of the cloud infrastructure market.[22] Given that software as a service is the most widely adopted form of cloud computing by financial institutions, the United States Department of the Treasury has indicated that the concentration among critical service providers may be cause for concern.[23]
    Microsoft and AWS are two of the largest data center providers and among the largest cloud providers; together these firms manage over five hundred and fifteen data centers. Google manages twenty-five data centers.[24] Simply stated, the number of service providers capable of handling the needs of many market participants may be limited. 
    Studies also report a decline in the number of Futures Commission Merchants (FCMs).[25] In 2023, the MRAC launched a workstream to analyze the current state and trends of the FCM market over the twenty-year period from 2003 to 2023.[26] The report notes increased operating costs and the capital requirements for FCMS and increased minimum net capital requirements. Markets have also witnessed consolidation in FCM markets. 
    In contrast to the decline in the total number of FCMs, clearing volume during this same period has dramatically increased.[27] The total number of non-carrying FCMs declined by 91% and the number of carrying FCMs fell by 58%.[28] This represents a significant reduction in the capacity of FCMs over the course of a relatively short period of time. 
    This reduction means that there is far fewer FCMs available to provide the critical functions they traditionally perform.
    B. Cyber Risks 
    Our registered market participants must comply with the regulatory framework for system safeguards. In many instances, technology service providers also have robust cyber defense capabilities designed to anticipate, prevent, or lessen the effect of sophisticated cyber-attacks.  
    In recent years, however, there has been notable disruption in traditional markets and the markets for novel financial products. Two recent events underscore the vulnerability of markets and market infrastructure to cyber threats. These incidents – the ION ransomware attack and the Bybit exchange hack – illustrate the difficulties many firms face when a third-party service provider or a technology employed through a third-party service provider experiences a cyberattack. 
    In January of 2023, a critical third-party service provider in derivatives markets, ION Cleared Derivatives (ION), a UK-based trading software partner, experienced a significant cyberattack. ION’s services are widely used by FCMs and other market participants for critical functions, including trade order management, trade processing, and settlement of exchange-traded derivatives. Because a significant number of FCMs rely on ION for back-office trading capabilities, the disruption caused by the ransomware attack on ION cascaded through our derivatives markets. During the period that ION’s operations were impacted by the ransomware attack, affected firms reverted to manual processes to match and settle trades, creating difficulties in recording and reporting trade reconciliation data.[29] Consequently, the Commission was unable to deliver timely Commitments to Traders reports and determining material transactional obligations such as margin and collateral were similarly impacted. 
    In a more recent cyberattack in crypto-asset markets, a crypto exchange experienced significant losses related to reliance on a third-party software platform that enables wallet services. In February of 2023, Bybit, a crypto exchange that offers crypto derivatives and other financial products lost over $1.4 billion when the firm suffered a breach of its multi-signature wallets.[30] Hackers infiltrated a developer workstation at a third-party that enables customers to access wallet software that interfaces with Bybit’s exchange. The hackers obtained credentials for the third party’s Amazon Web Services (AWS) repository.[31] Using stolen AWS tokens, the attackers introduced malicious code into the third party’s software, enabling the hackers to alter Bybit’s wallet interface and reroute a scheduled transfer of funds without immediate detection. 
    These losses were introduced to market participants through their link to critical third-party service providers and, in the case of Bybit, indirectly with a third party that was using another vendor for the compromised process. These losses can cascade through the markets when that breach occurs in a critical third-party service provider who is linked to a significant number of market participants.
    III. Reflections on Proposed and Potential Interventions 
    The Commodity Exchange Act and implementing regulations and related guidance provide a principles-based approach to regulating governance, risk management, and cybersecurity measures for CFTC-regulated entities. At the CFTC, we are increasingly focused on how to ensure markets benefit from responsible innovation and mitigate the threats to risk management that may lead to market disruption. 
    A. Existing DCO System Safeguard Regulation
    Derivatives clearing organizations (DCOs), are subject to core principles established under the CEA, including Section 5b, which establishes that DCOs shall (i) establish and maintain a program of risk analysis and oversight to identify and minimize sources of operational risk through the development of appropriate controls and procedures, and automated systems, that are reliable, secure, and have adequate scalable capacity; and (ii) establish and maintain emergency procedures, backup facilities, and a plan for disaster recovery (and establishes certain criteria for such plans and procedures, including timely recovery and resumption of operations, fulfillment of the DCO’s obligations, and periodic testing).[32] The DCO Core Principles were added to the CEA in the Commodity Futures Modernization Act of 2000. After the financial crisis of 2008, the Dodd-Frank Wall Street Reform and Consumer Protection Act expanded the CFTC’s authority to “establish a more comprehensive statutory framework to reduce risk, increase transparency and promote market integrity,” including by enhancing the Commission’s rulemaking authority with respect to registered entities, including DCOs.[33]
    Additional requirements for compliance with DCO Core Principle I, System Safeguards, are enumerated in more detail in Rule 39.18, following Dodd-Frank. When the rule was first proposed, and ultimately codified in 2011, it sought to “delineate the minimum requirements that a DCO would be required to satisfy in order to comply with Core Principle I.”[34] With time, as technology continued to evolve, and the world became more reliant on it, the regulation has evolved to include more specific requirements. For example, in 2016, the Commission amended Rule 39.18, clarifying certain requirements and enhancing others, motivated in large part by escalating and evolving cybersecurity threats. The December 2015 proposing release discussed roundtables held by the Commission and the MRAC that focused on cybersecurity, and a number of important topics surrounding cybersecurity that financial institutions should take into consideration. These include: (i) more cyber adversaries, that are more dangerous, and have expanding and worsening motivations and goals, (ii) increasing cyber capabilities from both non-state actors and state-sponsored intruders, (iii) more sophisticated and longer duration cyberattacks, (iv) a broadening cyber threat field where computers, mobile devices and the cloud are all potential points of vulnerability and, finally, (v) the interconnectedness of financial services firms and the threat that poses.[35] 
    As currently in effect, Rule 39.18 includes “(1) the requisite elements, standards, and resources of a DCO’s program of risk analysis and oversight with respect to its operations and automated systems; (2) the requirements for a DCO’s business continuity and disaster recovery plan, emergency procedures, and physical, technological, and personnel resources described therein; (3) the responsibilities, obligations, and recovery time objective of a DCO following a disruption of its operations; and (4) other system safeguards requirements related to reporting, recordkeeping, testing, and coordination with a DCO’s clearing members and service providers.”[36] With respect to third-party service providers, subsection (d)(2) specifies that a DCO can maintain some of the resources required by other subsections of the rule “through written contractual arrangements with another [DCO] or other service provider,”[37] but notes that “[a] [DCO] that enters into a contractual outsourcing arrangement shall retain complete responsibility for any failure to meet [the rules requirements]” and that the DCO “must employ personnel with the expertise necessary to enable it to supervise the service provider’s delivery of the services.”[38] 
    B. Opening a Dialogue to Explore Emerging Risks 
    In light of the ION attack, as well as the increasing risk of cyber threat events, the Market Risk Advisory Committee (MRAC) has spent significant attention to examining third-party service provider relationships and best practices for managing risks to central counterparties (CCPs). In January of 2023, the MRAC hosted a forum on cyber risks in our markets and focused on the ransomware attack that disrupted ION’s operations. 
    Later in 2023, MRAC launched a workstream focused on managing risks that arise from reliance on critical third-party service providers.[39] The workstream led by the CCP Risk and Governance Subcommittee examined the need to consider updating the operational resilience frameworks for CCPs in light of the concentration and cyber risks, among other concerns, that arise as registrants increasingly rely on critical third-party service providers. 
    On November 25, 2024, the MRAC published  a report from the CCP Risk and Governance Subcommittee which set forth recommendations on DCO System Safeguard Standards for Third Party Service Providers (Report).[40] The Report addresses recommendations to Rule 39.18, acknowledging that, while the System Safeguards do explicitly say that a DCO retains responsibility regardless of any contractual outsourcing of regulatory requirements and requires a DCO to provide certain information to the Commission with respect to those outsourced resources.[41] The Report recommends that any proposed regulation build upon and incorporate the principles and language set forth in the System Safeguards Rule with respect to DCOs and further that DCOs be required to establish and maintain a robust Third-Party Relationship Management Program that identifies, assesses, mitigates and monitors the full scope of risks that are associated with the use of third part arrangements.[42]
    The examples of the MRAC’s efforts illustrate the need for a continuing dialogue regarding the concentration and cyber risks that may accompany increased adoption of sophisticated technologies or reliance on third party service providers for technologies that operate at the center of our markets. Moreover, DCOs are only one the diverse types of registrants in our markets navigating these questions. 
    Other registrants, such as designated contract markets and boards of trade, swap execution facilities, and swap data repositories are subject to similar CFTC regulatory system safeguards.[43] Some registrants such as FCMs, commodity trading advisors, commodity pool operators, and introducing brokers who are members of the National Futures Association (NFA) may also be subject to NFA guidance on information systems security programs and third-party service providers.[44] However, similar to DCOs, it is important to consider instances in which reliance on critical third party service providers may introduce risk management concerns.  
    The growing concentration of critical third-party service providers present risk implications that may lead to disruption of our markets. While the Commission has broad authority to promulgate regulations consistent with our statutory authority, many technology firms may not be CFTC registrants subject to direct oversight and, absent conduct in violation of Commission regulation, the Commission may have limited oversight authority with respect to these technology firms. 
    Conclusion
    The issues outlined reflect neither an exhaustive nor a definitive list of the challenges of governing data and providing effective oversight for data integrity, security, and governance. There are many lessons that markets and regulators are yet to learn about the integration of novel technologies such as AI and our evolving market infrastructure.
    The illustration of each of these phenomenon – the rise of data-fueled AI and the increasing role of a concentrated group of critical third-party service providers – merits careful consideration. 
    I am ever working to enhance the stability and integrity of and strengthen the resilience of our domestic markets. As a Commissioner and throughout my career, I have long emphasized corporate governance, compliance, and risk management as central pillars in market oversight.
    Thank you so very much for allowing me to join you this afternoon. I have learned so much from each of the papers presented and the proposals. I am hopeful that other important decision-makers are tracking the issues you outline and solutions that you propose. 

    [2] The thoughts and perspectives that I share with you today are my own; they are not the views and perspectives of my fellow Commissioners, the Commission, or the staff of the CFTC.

    [10] Rory Van Loo, Digital Market Perfection, 117 Mich. L. Rev. 815 (2019); Chris Brummer & Yesha Yadav, Fintech and the Innovation Trilemma, 107 Geo. L. J. 235, 275 (2019); Rory Van Loo, Technology Regulation by Default: Platforms, Privacy, and the CFPB, 2 Geo. L. Tech. Rev. 531, 544-45 (2018). 

    [11] Harry Surden, Ethics of AI in Law: Basic Questions, 719 The Oxford Handbook of Ethics of AI (July 9, 2020) (exploring ethical issues arising from the adoption of artificial intelligence).

    [12] See, e.g., Exec. Order No.13,859, 84 Fed. Reg. 3,967 (Feb. 11, 2019), see also Christopher K. Odinet, AI Risks, Research Handbook on Artificial Intelligence & The Law, Cambridge University Press (forthcoming 2025). 

    [13] See, e.g., Kimberly A. Houser & Anjanette H. Raymond, It Is Time to Move Beyond the ‘AI Race’ Narrative: Why Investment and International Cooperation Must Win The Day, 18 Nw. J. Tech. & Intel. Prop. 129, 185 (2021); Dr. Axel Walz & Kay Firth-Butterfield, Implementing Ethics Into Artificial Intelligence: A Contribution, From A Legal Perspective, To The Development Of An Ai Governance Regime, 18 Duke L. & Tech. Rev. 176, 198; Ross P. Buckley et al., Regulating Artificial Intelligence in Finance: Putting the viHuman in the Loop, 43 Sydney L. Rev. 43, 45 (2021).

    [14] Deborah W. Denno & Ryan Surujnath, Rise of the Machines: Artificial Intelligence, Robotics, and the Reprogramming of Law: Foreword, 88 Fordham L. Rev. 381, 383 (2019); Ross P. Buckley et al., Regulating Artificial Intelligence in Finance: Putting the Human in the Loop, 43 Sydney L. Rev. 43, 47 (2021).

    [15] Bank for Int’l Settlements & Bd. of the Int’l Org. of Sec. Comm’n, Principles for Financial Market Infrastructures: Assessment Methodology for the Oversight Expectations Applicable to Critical Service Providers (Dec. 2014), https://www.bis.org/cpmi/publ/d123.pdf.

    [25] FCMs serve as intermediaries that facilitate the clearing and execution of trades in swaps and futures products.

    [27] Holdings of customer funds increased by more than 700% and the overall adjusted net capital rose by 296%. Id.

    [28] Non-carrying FCMs are FCMs which do not hold customer funds. Id.

    [32] 7 U.S.C. § 7a-1(c)(2)(I).

    [33] Derivatives Clearing Organization General Provisions and Core Principles, 76 Fed. Reg. 69334 (Nov. 8, 2011).

    [34] 76 Fed. Reg. at 69397.

    [35] System Safeguards Testing Requirements for Derivatives Clearing Organizations, 80 Fed. Reg. 80114, 80115 (Dec. 23, 2015).

    [36] System Safeguards Testing Requirements for Derivatives Clearing Organizations, 81 Fed. Reg. 64322 (Sept. 19, 2016).

    [37] 17 C.F.R. § 39.18(d)(1).

    [38] 17 C.F.R. § 39.18(d)(2).

    [41] Form DCO, Appendix A to 17 C.F.R. pt. 39.

    [42] The Report contains 8 principles in which the CCP Risk and Governance Subcommittee recommends a DCO should consider, at minimum, when developing a TPRM. The Report also recommends that the Commission consider requiring DCOs to obtain assurances from their critical service providers that they comply with the expectations set forth in Annex F of the Principles for Financial Market Infrastructure (PFMIs), which sets forth oversight expectations applicable to critical service providers. See Bank for Int’l Settlements & Bd. of the Int’l Org. of Sec. Comm’n, Principles for Financial Market Infrastructures: Assessment Methodology for the Oversight Expectations Applicable to Critical Service Providers (Dec. 2014), https://www.bis.org/cpmi/publ/d123.pdf.

    [43] See 7 U.S.C. § 7(d)(20), 17 C.F.R. § 38.1050-1051 (designated contract markets and boards of trade), 7 U.S.C. § 7b-3(f)(14), 17 C.F.R. § 37.1400-1401 (swap execution facilities), and 7 U.S.C. § 24a(c)(8), 17 C.F.R. § 49.24) (swap data repositories).

    MIL OSI USA News –

  • MIL-OSI USA: Attorney General Bonta Co-Leads Lawsuit Against Trump Administration for Unlawfully Terminating and Withholding Medical and Public Health Research Grants

    Source: US State of California

    In 2024, NIH awarded $5.15 billion in grants and contracts that directly supported 55,324 jobs and $13.81 billion in economic activity in California

    OAKLAND — California Attorney General Rob Bonta today co-led 16 attorneys general in filing a lawsuit against the Trump Administration, the Department of Health and Human Services, and the National Institutes of Health (NIH) for failing to disperse grant funds and for unlawfully terminating existing grants for medical and public health research institutions across the country. Despite Congressional direction, the NIH has drastically reduced its funding to advance the United States’ understanding of human disease and potential treatments. As a result, California universities have begun curtailing biomedical research and delaying the hiring of new staff and students who depend on NIH funding.

    “In their unlawful withholding and terminating of medical and public health research grants, the Trump Administration is upending not only the critical work being done today, but the promise of progress for future generations,” said Attorney General Rob Bonta. “Through research, we save lives, improve public wellbeing and create new economic opportunities that support a vibrant economy. Let me be clear: in California, NIH funding creates over 50,000 jobs and billions of dollars in economic activity. Over the decades, this funding has brought humanity the eradication of polio, discovery of the gene that causes breast and ovarian cancer, and the transformation of HIV from a fatal disease into one people can live with. Gutting NIH funding is a deep loss to innovation and progress built upon for decades — and it’s illegal. My office is proudly leading the charge to demand that the Trump Administration immediately restore funding to the important work being done in labs, schools, and hospitals across the nation.”

    “The American research enterprise is the most successful, important, and impactful in the world,” said UC President Michael V. Drake, M.D. “We must continue to do all we can to develop treatments and cures for the serious medical conditions that threaten us all.”

    “We applaud the attorney general for filing this lawsuit. NIH funding is vital to the CSU’s ability to offer immersive student learning and discovery through distinctive research programs that directly benefit the health of all Americans,” said Ganesh Raman, Assistant Vice Chancellor for Research at the California State University. “These grants not only support research, but they also provide stipend and other funding that impact hundreds of CSU students, staff and faculty who engage in meaningful, and career-defining work. Terminating these federal grants will cause irreparable harm, undermine scientific progress and our collective capacity to innovate and lead California’s economy.”

    NIH is the federal agency responsible for biomedical and public health research. Over 80% of Congressional funding supports NIH research and training at external labs, schools, and hospitals. It is estimated that every $1 invested in NIH research generates $2.56 of economic activity.

    Over the years, NIH-supported research has had a profound impact on the health and wellbeing of the American people. NIH scientists pioneered the rubella vaccine, eradicating a disease that, in the 1960s, killed thousands of babies and left thousands more with lifelong disabilities. NIH studies led to the discovery of the BRCA mutation, helping countless Americans reduce their risk of breast and ovarian cancer. NIH research fueled the development of treatments for HIV and AIDS, transforming what used to be a fatal disease into one with a nearly normal life expectancy.   

    The termination of NIH funding for research interventions to prevent or treat the spread of diseases like HIV/AIDS, Covid and other virus families of pandemic concern — including emerging diseases such as Dengue, Chikungunya, and Zika — increases the risk of and incidence of these diseases in California. The terminations have specifically targeted some of the most vulnerable Californians, including women experiencing domestic violence, children at risk of suicide, and underserved communities at a higher risk of chronic or infectious diseases.

    Yet the Trump Administration has frozen the highly competitive process for approving new NIH grants. The Administration has also terminated existing NIH grants without any reasonable explanations after those grants were funded based on their scientific merit and potential innovative impact and appears to have terminated grants based on the projects’ perceived connection to “DEI,” “transgender issues,” “vaccine hesitancy,” or other topics disfavored by the Trump Administration. Similarly, training grants directed to increase diversity in the research work force have been pulled from review. NIH claims that these grants “no longer effectuate agency priorities.” 

    In today’s lawsuit, the attorneys general argue that the Trump Administration’s actions are arbitrary and capricious. The Trump Administration does not have the authority to unilaterally decline spending congressionally appropriated funds. As such, the attorneys general seek a temporary restraining order to immediately restore grant funding to the states and bar the Administration from unlawfully terminating grants.

    In February, Attorney General Bonta filed a lawsuit against the Trump Administration’s unlawful attempt to cut “indirect cost” reimbursements at every research institution throughout the country. Indirect cost reimbursements refer to expenses that are necessary to support research but are not easily linked to a specific research project. 

    In bringing today’s lawsuit Attorney General Bonta and the attorneys general of Massachusetts, Maryland, and Washington lead the attorneys general of Arizona, Colorado, Delaware, Hawaii, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, and Wisconsin. 

    A copy of the complaint can be found here.  

    MIL OSI USA News –

  • MIL-OSI: 18/2025・Trifork Group: Share-Based Incentive Program 2025

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 18 / 2025
    Schindellegi, Switzerland – 4 April 2025

    Share-Based Incentive Program 2025

    Trifork Group AG (“Trifork”) has granted restricted share units (“RSUs”) under the existing employee long-term share-based incentive program (“ELTIP”) approved by the Board of Directors in 2021.

    The third ELTIP 2025 (“ELTIP 2025c”) covers the grant in April 2025 to certain employees of the Trifork Group. The ELTIP 2025c is based on RSUs, and employees participating in the ELTIP 2025c may, subject to certain terms and conditions, be allocated RSUs by converting bonuses. RSUs granted will be subject to graded vesting over three years.

    Further details about the ELTIP 2025c are stated below:

    Participants Certain employees of the Trifork Group in selected jurisdictions. Total 37 employees.
    Number of RSUs Based on the number of employees participating in the ELTIP 2025c, a total of 19,213 RSUs will be allocated. The number of RSUs is calculated by converting the amount of bonuses and applying the weighted average share price for shares of the last three trading days of 2024.
    Granting RSUs comprised by the ELTIP 2025c are granted in April 2025.
    Vesting RSUs will vest over a three-year period with 1/3 of the RSUs vesting each year. Vesting is not conditional upon the achievement of any financial or non-financial targets but is conditional upon the participating employee remaining employed with the Trifork Group throughout the vesting period or becoming a good leaver during the vesting period as well as the participating employee having complied in all respects with the terms and conditions of the ELTIP 2025c.
    Objective Attraction and retention of employees in selected jurisdictions.
    Conversion Once vested and not lapsed in accordance with the terms and conditions of the ELTIP 2025c, each RSU will entitle the holder to receive one Trifork share.
    Conditions RSUs are granted based on the conversion of individual bonus amounts for each participating employee.

    The ELTIP 2025c is subject to customary conditions.
    Allocation & theoretical value The allocation is based on the weighted average share price of the last three trading days of 2024 (DKK 75.08). Dividing the converting salary by this amount results in the number of RSUs to be granted. The converting total amounts to DKK 1,442,525 (EUR 193,888) and 19,213 RSUs. 

    The theoretical value for the RSUs is the market price of the Trifork share at grant date minus the expected dividends for the portions vesting after one, two, and three years.


    Investor and media contact
    Frederik Svanholm, Group Investment Director & Head of IR, frsv@trifork.com, +41 79 357 73 17


    About Trifork
    Trifork is a pioneering global technology partner, empowering enterprise and public sector customers with innovative solutions. With 1,229 professionals across 73 business units in 16 countries, Trifork delivers expertise in inspiring, building, and running advanced software solutions across diverse sectors, including public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. Trifork Labs, the Group’s R&D hub, drives innovation by investing in and developing synergistic and high-potential technology companies. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com.

    Attachment

    The MIL Network –

  • MIL-OSI USA: Magaziner Leads Congressional Forum on NOAA Cuts, Brings Rhode Island Voices to Washington

    Source: US Representative Seth Magaziner (RI-02)

    WASHINGTON, DC – U.S. Representative Seth Magaziner (RI-02) led House Natural Resources Committee Democrats in a congressional forum on the devastating impact of cuts to the National Oceanic and Atmospheric Administration (NOAA), highlighting how mass layoffs and facility closures at the agency hurt Rhode Island’s coastal economy and national security interests.

    The forum brought together voices from the fishing industry, environmental advocacy, and public service at the nation’s capital—including Sarah Schumann, a Rhode Island commercial fisher and Director of the Fishery Friendly Climate Action Campaign—to testify on the impact of Trump Administration cuts to NOAA.

    “Fishing is part of who we are in Rhode Island—and data from the National Oceanic and Atmospheric Administration on weather, fish stocks, and more plays a critical role in protecting lives and livelihoods in the Ocean State.” said Magaziner. “I was proud to bring voices together and host this forum with House Natural Resources Committee Democrats to elevate local challenges and shine a light on the reckless cuts to NOAA by Trump and Musk that hurt the Ocean State and its coastal economy.”

    “From farmers and first responders to entire coastal communities, NOAA is integral to protecting Americans’ safety and keeping our economy running,” said Ranking Member Huffman. “Today’s forum made one thing clear: the Trump administration’s reckless policies are not attacks on NOAA, but also attacks on public safety, good-paying jobs, and the scientific knowledge our communities depend on. By firing experts, slashing critical funding, and privatizing weather data, the administration is putting American lives at risk with the sole purpose of rewarding billionaires. Dismantling NOAA doesn’t just hurt public servants—it hurts everyone.”

    View full remarks from House Natural Resources Committee Democrats’ forum here.

    View or download photos from the House Natural Resources Committee Democrats’ forum here.

    During the forum, Democratic members of the House Natural Resources Committee heard from witnesses on how the Trump administration’s actions surrounding NOAA impact coastal communities and business owners, weaken U.S. fisheries, make communities less safe in the face of natural disasters, and threaten critical climate research.

    The panelists spoke to the critical lifeline NOAA is for communities in providing weather data and forecasts and monitoring coastal environments. 

    Members of Congress in attendance included House Natural Resources Committee Ranking Member Jared Huffman (CA-02), Rep. Julia Brownley (CA-26), Rep. Val Hoyle (OR-04), Rep. Sarah Elfreth (MD-03), and Rep. Maxine Dexter (OR-03).

    BACKGROUND

    In Rhode Island, NOAA supports a fishing and aquaculture industry that supports thousands of jobs, provides lifesaving weather forecasting, and funds research that strengthens the state’s coastal economy and conservation of ocean resources. Proposed cuts threaten jobs, local businesses, and the livelihoods of Rhode Islanders who depend on healthy oceans and sustainable fisheries. 

    Despite its critical mission, NOAA has become a primary target of the Trump administration and Elon Musk’s DOGE. Since January, NOAA has faced an unprecedented wave of political interference: censorship of climate research, purging of expert staff, the shutdown of oversight committees, and forced layoffs impacting more than 800 employees. DOGE operatives have unlawfully accessed NOAA systems, including internal communications and grants databases, raising serious questions about data integrity and whistleblower retaliation.

    These actions have already disrupted NOAA’s core functions. Weather balloon launches have been reduced, community resilience programs scaled back or shuttered, and offices around the country remain closed. Meanwhile, extremist proposals to dismantle or privatize NOAA will put essential weather alerts and environmental data behind paywalls, endangering farmers, first responders, and coastal economies. House Democrats are committed to exposing this dangerous agenda and defending the public services that keep Americans safe and our economy strong.

    This event follows a roundtable hosted by Magaziner in Providence to hear from Rhode Island fishing, aquaculture, environmental, and conservation leaders about their concerns surrounding a weakened NOAA.

    PANELIST QUOTES

    “We have no idea how NOAA will keep functioning with these budget cuts. We have no idea how much expertise and knowledge has been lost in these firings. We have no idea what else the Trump administration will do to destroy NOAA. And we have no idea who else is slated to be let go,” said Marce Gutiérrez-Graudiņš, Founder and Executive Director, Azul. “To name just a few examples, Digital Coast helped Florida use high-level surface mapping to improve their flood vulnerability assessments. It helped Southern California collaborate on innovation projects for their renewable economy. It helped Northern Mariana Islands better prepare for tsunamis. It helped improve storm surge modeling for Caribbean disaster preparedness programs. It helped inform watershed management in Florida. It helped promote ecotourism in Virginia through watershed conservation. It helped analyze urban growth and flood risk in North Carolina. It helped lower flood insurance premiums in South Carolina. The list could go on and on. NOAA’s tools have helped every one of these communities and so many more. So what will happen when there’s no longer the budget for these tools, for the scientists, and the data experts who know how to use them? The unfortunate result is that communities will suffer across the U.S.”

    “In my last job in the Navy, I was the oceanographer and navigator of the Navy. Just as importantly, I was the Navy deputy to NOAA. That’s how important the Navy sees this relationship between our Navy and NOAA, in that they assign an admiral to be a deputy to the director of NOAA,” said RADM Jon White, USN (Ret.). “Without the NOAA information, without leading the world in this, then our national security and the safety of our men and women in uniform is at risk. […] And it worries me a lot because I just know that there are men and women in uniform out there who rely on this information. There are parents and husbands and wives who rely on having the best information possible to keep their loved ones safe and to make sure that we maintain our national security and that home and away game advantage for years to come.”

    “Agency staff at every level have been demoralized and marginalized. When coupled with cuts to grants and fellowships and increased job insecurity, we are at a serious risk of alienating the next generation of scientists, policymakers, and leaders who would help the United States weather future storms,” said Elizabeth L. Lewis, Senior Associate Attorney, Eubanks & Associates. “NOAA simply cannot carry out its critical functions on limited staff, shrinking budgets, and aging equipment. Therefore, there is no doubt that if the Administration’s vision for NOAA becomes reality, American businesses will suffer, and even more tragically, lives will be lost.”

    “In the two months since [January 20], the administration has abdicated its citizen-granted authorities to Elon Musk, the wealthiest man on the planet, and this unelected, unaccountable billionaire has torn through agency after agency, destroying a public service infrastructure that took decades to build. And it’s clear that everyday Americans are not this administration’s priority,” said Sarah Schumann, Fisherman, and Owner/Principal Consultant, Shining Sea Fisheries Consulting, LLC. “All of the ambitious and visionary things that fishermen desperately need, the faster, more collaborative data collection and decision-making, the greater attention to the multitude of stressors affecting fishery habitats, the supports for young people to enter and thrive in fishing careers, will be vastly more difficult to achieve with a diminished and distressed NOAA workforce.”

    “I worked for The Weather Company, and there is no weather forecast that’s produced in this country that isn’t dependent on NOAA,” said Mary Glackin, retired NOAA official, American Meteorological Society. “In [Florida], we have 5.3 million acres of submerged lands that are managed through NOAA programs, and this is a combination of the Estuarine Research Reserves, the Coral Reef Conservation Project, the sanctuary that’s there, and coastal zone management. And why is this important to us? These areas safeguard water quality, buffer against storms and flooding, and provide critical habitat for fisheries and wildlife. They drive tourism and recreation, one of the prime economic drivers in Florida. They see over 100 million visitors annually for these world-class recreation activities, and without these programs, we are going to see increased pollution. Make no mistake about that. This could not be a worse time of year. We have the severe weather coming across. We haven’t seen our first hurricane yet, but I guarantee you it’s coming. And right now I fear that the only thing keeping us from real disaster is the heroic efforts of NOAA staff.”

    MIL OSI USA News –

  • MIL-OSI Russia: Instructional designers: who are they and why the modern education market is impossible without them

    Translartion. Region: Russians Fedetion –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    The education market is transforming and developing. HolonIQ platform experts evaluate the industry’s value by 2030 is estimated at $10 trillion. Educational technologies, EdTech, play a leading role in this market. The need for specialized specialists who use innovative approaches is also growing here. In response to this, HSE online campus Launches New Online Master’s Degree ProgramInstructional Design: Theory and Practice of Learning“.

    EdTech maintains positive dynamics and becomes more mature after a sharp rise during the pandemic. For example, the Smart Ranking agency reports, that the total revenue of the top 100 largest EdTech companies in Russia in 2024 reached 144.5 billion rubles (148.8 billion rubles for the entire sample of more than 160 companies), which is 19% higher than the 2023 level. The higher online education segment is also scaling: analytics The Commonwealth of Online Higher Education (COHO) says that the total revenue of the market in 2024 will reach 4.5 billion rubles. This is 36% higher than in the previous year. There are also more new online programs. We should not forget about the KidTech market, which is marked by double growth potential. Such indicators would be impossible without high-quality educational products that are thought out from the point of view of the student’s path, so there is a growing need for specialists who are able to develop them using innovative approaches. Therefore, the HSE online campus is launching a new online master’s program “Pedagogical Design: Theory and Practice of Teaching”.

    Yulia Koreshnikova, the academic director of the program, spoke about what this profession is, what exactly such a specialist does and who can become one.

    Who is an instructional designer?

    A pedagogical designer can be called a designer of the learning process and the user’s educational experience. He develops programs, courses, educational materials, educational platforms and takes part in the development of applications using modern digital technologies, expertise in the field of pedagogy, psychology, UX/UI design. As a result of his work, users receive a product that is not only high-quality and effective in terms of solving educational problems, but also comfortable and understandable when interacting with it.

    The main areas of activity of pedagogical design are:

    analysis of the market and target audience of the product, based on an understanding of the unit economics and metrics of educational products;

    development, implementation and support of educational products in face-to-face, distance and hybrid environments;

    integration of the latest advances in cognitive and other sciences into the product development process;

    assessing the effectiveness of developed educational products based on the results of the research conducted and their compliance with the goals and objectives of the customer;

    forming teams to solve problems of educational projects;

    implementation of high-quality community management.

    The demand for such specialists is growing both in the field of digital content development and in the field of transformation of traditional educational processes.

    Is the demand for specialists long-term?

    People will not stop learning. The spheres are developing so actively that every 2-3 years you can see the emergence of new professions and changes in existing ones, which exacerbates the need to obtain relevant knowledge and skills through courses and educational programs. In the context of the rapid obsolescence of various professional skills, the role of a specialist in training design is becoming key.

    The EdTech market is growing by 15–20% annually, education is actively digitalizing: according to the UNESCO 2022 report, more than 80% of educational organizations around the world have begun to integrate digital tools into their curricula. In addition, there is a growing demand for personalized educational trajectories: according to the Future of Education project, 70% of students prefer individualized learning formats. The education sector is actively transforming. Companies and educational organizations need specialists who can develop effective learning programs for online and blended formats.

    Our program is able to provide students with the necessary theoretical and practical foundations in the field of educational experience design, instructional design, psychology, pedagogy, neuroscience, as well as practical skills in the development, implementation and sale of educational products in any segment of education.

    How does the training proceed?

    The program is based on the principles of balance between academic knowledge and practical work. We provide students with the opportunity to create educational products under the guidance of leading teachers and industry experts. From the first months of study, master’s students undergo practical training in leading companies such as Skillbox, Uchi.ru, Skyeng, Foxford, Sferum and others, where they work on real projects. This approach provides them with successful cases, makes them part of the professional educational community even before completing their studies. The key feature of the program is learning through activity. In addition, teachers themselves use educational technologies in the educational process, which they discuss with students.

    The program covers three interconnected blocks with a corresponding set of disciplines:

    ideological – the study of key pedagogical and psychological concepts necessary for the conscious design of educational products;

    design – mastering tools for creating and promoting educational products;

    practical – completing internships and working on real projects in EdTech companies, educational organizations and corporate universities.

    In addition, an important component is the research component, which includes a set of disciplines designed to build an ecosystem for mastering the experience of scientific research activities to analyze the target audience, market demands and the effectiveness of the educational product. It is also worth noting that at the start of training, the student chooses a topic for his project and works on it for two years, creating an MVP. Upon completion of training, the results of the project are defended in the format of a final qualifying work in front of industry representatives, which makes it possible to immediately implement their developments in practice.

    The learning process itself is entirely online. The format allows for successful combination of learning and career development. For example, we give students the opportunity to find employment in partner organizations.

    What jobs can you get after completing your studies?

    The specialist will be able to apply for positions as an educational designer, educational experience designer, digital materials developer, methodologist, UX/UI designer, product manager in EdTech, head of corporate training in companies from completely different fields of activity.

    According to hh.ru, specialists in educational program design now earn 70,000 rubles at the start of their professional career, and after a couple of years they can already claim a monthly salary of 200,000 rubles.

    Who can apply?

    Our program is available to anyone who wants to be involved in the development of the education market and its improvement. To enroll, you must have a higher education in any field of study. The diversity of the background of specialists contributes to the development of variability of approaches, ideas, and methods in the educational sphere. Enrollment is based on a competitive selection, so it is extremely important to take care of your portfolio. It should include:

    resume; educational documents; motivational video business card; creative task – analysis of situations; creative task – research of needs and preferences in education, development of the concept of a new educational product; additional documents.

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

    MIL OSI Russia News –

  • MIL-OSI United Nations: WFP and Italy partner to expand home-grown school feeding and resilience interventions in Malawi

    Source: World Food Programme

    LILONGWE, Malawi – The United Nations World Food Programme (WFP) welcomes a contribution of €4 million from the Government of Italy to expand the Home-Grown School Feeding programme and support climate-smart agriculture and sustainable school meals by connecting schools with local farmers in Malawi’s Chikwawa District.

    The funding will enable WFP to provide daily nutritious meals to 20,800 children in seventeen primary schools across Chikwawa and supports the national school feeding programme reaching over 800,000 children across Malawi. By sourcing ingredients locally, the initiative creates stable market opportunities for smallholder farmers – especially women – helping them increase production and income, while directly contributing to children’s well-being.

    WFP Malawi Country Director ad interim, Simon Denhere, said the support from the Government of Italy will drive lasting impact by integrating food security, education, and livelihoods.

    “This initiative goes beyond school meals; it strengthens entire communities. By linking smallholder farmers to schools and equipping them with resilience practices, we are improving children’s nutrition while helping communities recover from weather related shocks and to prepare for the future,” said Denhere.

    “This partnership is a game-changer for Malawi, linking nutritious school meals to improved attendance and academic success, while empowering local farmers and enhancing community food security,” said Maureen Maguza Tembo, Deputy Director of School Health, Nutrition and HIV/AIDS  in the Ministry of Education.

    Beyond school feeding, the initiative strengthens smallholder farmers’ resilience by improving access to weather resistant crops, promoting sustainable farming techniques, and expanding irrigation and financial services. These efforts help farming communities increase productivity and better withstand shocks.

    The Ministry of Agriculture, Ministry of Education, WFP, and Save the Children will jointly implement the project in Chikwawa District, with Save the Children and the District Council leading field interventions.

    “Investing in school feeding and agriculture lays the foundation for lasting benefits for children, farmers, and the broader economy, fostering self-reliance and stability,” said H.E. Enrico de Agostini, Ambassador of Italy to Malawi and Zambia.

    Malawi continues to experience climate shocks, including the recent El Niño-induced drought, making recovery efforts essential for families and communities.

    “Smallholder farmers are the backbone of our agricultural sector, yet they face numerous challenges, including limited access to markets, inputs, and climate-related shocks,” said Geoffrey Mamba, Principal Secretary responsible for Irrigation in the Ministry of Agriculture. “This initiative will enhance smallholder farmers’ productivity and market access, particularly for women farmers, by integrating them into the school feeding system.”

    The contribution was announced today by representatives from the Government of Italy, the Ministry of Agriculture, and the Ministry of Education.

    Since 1999, WFP has supported school feeding in Malawi, currently reaching approximately 837,500 children across 778 schools. In addition to school feeding, WFP implements resilience-building projects in four districts in southern Malawi, targeting 57,914 households with initiatives that strengthen livelihoods, enhance agricultural productivity, and help communities withstand climate-related shocks.

    #                    #                       #

    About WFP

    The United Nations World Food Programme is the world’s largest humanitarian organization saving lives in emergencies and using food assistance to build a pathway to peace, stability, and prosperity for people recovering from conflict, disasters, and the impact of climate change.

    Follow us on X @wfp_media | @wfp_malawi

    MIL OSI United Nations News –

  • MIL-OSI USA: Rep. Magaziner, Natural Resources Committee Members Discuss Trump-Musk Attacks on NOAA with Expert Panelists at Issues Forum

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

    April 03, 2025

    Washington, D.C. – Yesterday, U.S. Representative Seth Magaziner (D-R.I.) and U.S. House Natural Resources Committee Members hosted an issues forum titled “Attacks on NOAA Threaten American Communities and Economies.” During this forum, the Members examined the dangerous consequences of the Trump administration’s ongoing campaign to dismantle the National Oceanic and Atmospheric Administration (NOAA). Members and panelists warned that Trump and Musk’s attacks are calculated moves to silence scientists, privatize public services, and reward tax breaks to billionaires at the expense of the American people.

    [embedded content]

    “From farmers and first responders to entire coastal communities, NOAA is integral to protecting Americans’ safety and keeping our economy running,” said Ranking Member Huffman. “Today’s forum made one thing clear: the Trump administration’s reckless policies are not attacks on NOAA, but also attacks on public safety, good-paying jobs, and the scientific knowledge our communities depend on. By firing experts, slashing critical funding, and privatizing weather data, the administration is putting American lives at risk with the sole purpose of rewarding billionaires. Dismantling NOAA doesn’t just hurt public servants—it hurts everyone.”

    “Fishing is part of who we are in Rhode Island—and data from the National Oceanic and Atmospheric Administration on weather, fish stocks, and more plays a critical role in protecting lives and livelihoods in the Ocean State,” said Rep. Seth Magaziner. “I was proud to bring voices together and host today’s forum with House Natural Resources Committee Democrats to elevate local challenges and shine a light on the reckless cuts to NOAA by Trump and Musk that hurt the Ocean State and its coastal economy.”

    “Whether we call it climate change, sea level rise, or nuisance flooding, it is happening, and it is happening at an increased level, including in Maryland’s Third District. Our state is incredibly vulnerable to the impacts of unpredictable weather, which is why I want to thank NOAA staff for your service. House Democrats understand what you deliver for the American people every single day, and I apologize that you are not receiving the respect that you deserve,” said Congresswoman Sarah Elfreth. 

    “In my district, extreme weather is already endangering critical infrastructure, including at Naval Base Ventura County and the Port of Hueneme, which are vital to both our security and local economy,” said Congresswoman Julia Brownley. “Cuts to NOAA harm military readiness and weaken our community’s ability to respond to the growing dangers of climate change. NOAA’s forecasting, climate monitoring, and disaster response are essential to our resilience. By dismantling this agency, the Trump Administration is weakening disaster preparedness and putting communities across the country at greater risk of more destruction from frequent and severe natural disasters.”

    “Gutting NOAA will cost lives and livelihoods. For coastal states like Oregon, NOAA is a lifeline that keeps our economy resilient and our communities safe from climate-fueled disasters,” said Rep. Maxine Dexter.  “Thank you, Ranking Member Huffman, for spotlighting Elon Musk’s dangerous cuts and standing with us to protect science, safety, and coastal communities.” 

    “What this administration does not seem to understand is that science is how we understand the foundation of this world, how we prepare our constituents for weather events, our farmers for their work, and our communities to respond to a rapidly changing climate,” said Rep. Melanie Stansbury. “Cuts to this service will have severe consequences nationally and in my home state because we use the data from NOAA for everything. These mass firings will leave nothing behind but a mess that has undermined our ability to predict the weather with life or death consequences on the ground.”

    “The cuts to NOAA’s funding and workforce are thoughtless and jeopardize the safety of countless Oregonians,” said Rep. Val Hoyle. “NOAA’s ocean mapping and weather forecasting helps our commercial fisherman safely navigate dangerous ocean waters as they harvest fish that feed our country, and it also helps our wildland firefighters with advanced warnings on dangerous weather conditions. These forecasts help our communities and can be the difference between life and death. There is no reason to gut this agency which provides critical information that is integral to protecting every community in my district and across this country.”

    You can view a photo gallery here.

    ADDITIONAL BACKGROUND

    NOAA plays a vital role in protecting lives and supporting livelihoods across the United States. Its forecasts and data support industries from agriculture to tourism, while providing life-saving alerts and environmental monitoring that keep communities safe. Every day, Americans rely on NOAA to help navigate floods, fires, hurricanes, and other climate-fueled disasters.

    Despite its critical mission, NOAA has become a primary target of the Trump administration and Musk’s DOGE. Since January, NOAA has faced an unprecedented wave of political interference: censorship of climate research, purging of expert staff, the shutdown of oversight committees, and forced layoffs impacting more than 800 employees. DOGE operatives have unlawfully accessed NOAA systems, including internal communications and grants databases, raising serious questions about data integrity and whistleblower retaliation.

    These actions have already disrupted NOAA’s core functions. Weather balloon launches have been reduced, community resilience programs scaled back or shuttered, and offices around the country remain closed. Meanwhile, extremist proposals to dismantle or privatize NOAA will put essential weather alerts and environmental data behind paywalls, endangering farmers, first responders, and coastal economies. House Democrats are committed to exposing this dangerous agenda and defending the public services that keep Americans safe and our economy strong.

    PANELIST QUOTES

    “We have no idea how NOAA will keep functioning with these budget cuts. We have no idea how much expertise and knowledge has been lost in these firings. We have no idea what else the Trump administration will do to destroy NOAA. And we have no idea who else is slated to be let go,” said Marce Gutiérrez-Graudinš, Founder and Executive Director, Azul. “To name just a few examples, Digital Coast helped Florida use high-level surface mapping to improve their flood vulnerability assessments. It helped Southern California collaborate on innovation projects for their renewable economy. It helped Northern Mariana Islands better prepare for tsunamis. It helped improve storm surge modeling for Caribbean disaster preparedness programs. It helped inform watershed management in Florida. It helped promote ecotourism in Virginia through watershed conservation. It helped analyze urban growth and flood risk in North Carolina. It helped lower flood insurance premiums in South Carolina. The list could go on and on. NOAA’s tools have helped every one of these communities and so many more. So what will happen when there’s no longer the budget for these tools, for the scientists, and the data experts who know how to use them? The unfortunate result is that communities will suffer across the U.S.”

    “In my last job in the Navy, I was the oceanographer and navigator of the Navy. Just as importantly, I was the Navy deputy to NOAA. That’s how important the Navy sees this relationship between our Navy and NOAA, in that they assign an admiral to be a deputy to the director of NOAA,” said RADM Jon White, USN (Ret.). “Without the NOAA information, without leading the world in this, then our national security and the safety of our men and women in uniform is at risk. […] And it worries me a lot because I just know that there are men and women in uniform out there who rely on this information. There are parents and husbands and wives who rely on having the best information possible to keep their loved ones safe and to make sure that we maintain our national security and that home and away game advantage for years to come.” 

    “Agency staff at every level have been demoralized and marginalized. When coupled with cuts to grants and fellowships and increased job insecurity, we are at a serious risk of alienating the next generation of scientists, policymakers, and leaders who would help the United States weather future storms,” said Elizabeth L. Lewis, Senior Associate Attorney, Eubanks & Associates. “NOAA simply cannot carry out its critical functions on limited staff, shrinking budgets, and aging equipment. Therefore, there is no doubt that if the Administration’s vision for NOAA becomes reality, American businesses will suffer, and even more tragically, lives will be lost.”

    “In the two months since [January 20], the administration has abdicated its citizen-granted authorities to Elon Musk, the wealthiest man on the planet, and this unelected, unaccountable billionaire has torn through agency after agency, destroying a public service infrastructure that took decades to build. And it’s clear that everyday Americans are not this administration’s priority,” said Sarah Schumann, Fisherman, and Owner/Principal Consultant, Shining Sea Fisheries Consulting, LLC. “All of the ambitious and visionary things that fishermen desperately need, the faster, more collaborative data collection and decision-making, the greater attention to the multitude of stressors affecting fishery habitats, the supports for young people to enter and thrive in fishing careers, will be vastly more difficult to achieve with a diminished and distressed NOAA workforce.”

    “I worked for The Weather Company, and there is no weather forecast that’s produced in this country that isn’t dependent on NOAA,” said Mary Glackin, retired NOAA official, American Meteorological Society. “In [Florida], we have 5.3 million acres of submerged lands that are managed through NOAA programs, and this is a combination of the Estuarine Research Reserves, the Coral Reef Conservation Project, the sanctuary that’s there, and coastal zone management. And why is this important to us? These areas safeguard water quality, buffer against storms and flooding, and provide critical habitat for fisheries and wildlife. They drive tourism and recreation, one of the prime economic drivers in Florida. They see over 100 million visitors annually for these world-class recreation activities, and without these programs, we are going to see increased pollution. Make no mistake about that. This could not be a worse time of year. We have the severe weather coming across. We haven’t seen our first hurricane yet, but I guarantee you it’s coming. And right now I fear that the only thing keeping us from real disaster is the heroic efforts of NOAA staff.”

    ###

    MIL OSI USA News –

  • MIL-OSI: Theo S. Basis Joins Spartan Capital Securities as Chief Compliance Officer

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, April 04, 2025 (GLOBE NEWSWIRE) — Spartan Capital Securities is pleased to announce the appointment of Theo S. Basis as the firm’s new Chief Compliance Officer. With over 30 years of experience in compliance and regulatory roles across broker-dealer, registered investment advisory, insurance, and investment banking sectors, Mr. Basis brings a wealth of leadership and expertise. He excels in overseeing compliance governance and ensuring regulatory adherence.

    Throughout his career, Mr. Basis has held leadership positions at some of the most prominent financial institutions, including AXA Equitable, Prudential, Principal Financial Group, TD Wealth Management, Signature Bank/Securities, W.J. Nolan & Co. (a NYSE member), and, most recently, Laidlaw & Co. Additionally, Theo worked as a Senior Compliance Examiner with FINRA Membership Regulation, District #10 in New York, working in Special Investigations/Enforcement, where he developed a sharp acumen for assessing regulatory risks and implementing solutions to ensure regulatory compliance.

    Mr. Basis is an expert in the application of SEC, FINRA, and MSRB regulatory rules and interpretations, and he has earned a strong reputation as a trusted compliance leader and strategic advisor. He holds multiple securities registrations, including Series 7, 8, 9, 10, 14, 24, 53, 63, 65, and 99. Additionally, in 2007, he attained the Certified Anti-Money Laundering Specialist (CAMS) designation and has utilized this specialty ever since.

    John D. Lowry, Founder and CEO of Spartan Capital Securities, commented, “We are thrilled to welcome Theo Basis to Spartan Capital Securities. His extensive experience in regulatory compliance and leadership will be instrumental in strengthening our compliance infrastructure and ensuring we meet the highest industry standards. Theo’s ability to navigate complex regulatory landscapes will be a critical asset as we grow and expand.”

    About Spartan Capital Securities, LLC (SCS):

    Spartan Capital Securities, LLC is a full-service, integrated financial services firm that provides sound investment guidance for high-net-worth individuals and institutions. With deep market knowledge, risk management strategies, and investment expertise, Spartan Capital has earned a strong reputation as a trusted financial advisor. The firm offers personalized asset allocation programs tailored to meet each client’s unique financial goals. Spartan Capital also offers advisory and insurance services through its affiliates, Spartan Capital Private Wealth Management, LLC, and Spartan Capital Insurance Services, LLC.

    For inquiries, contact: info@spartancapital.com
    John D. Lowry
     Spartan Capital Securities
    +1 (212) 293-0123

    The MIL Network –

  • MIL-OSI: Unlock 100x Leverage with No KYC, Double Deposit Bonus, and $50 Welcome Bonus on BexBack

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, April 04, 2025 (GLOBE NEWSWIRE) — With Bitcoin’s price fluctuating below $100,000, many analysts predict a prolonged period of high volatility in the crypto market. Holding spot positions may struggle to generate short-term profits in such conditions. As a result, 100x leverage futures trading has become the preferred tool for seasoned investors looking to maximize potential gains in this volatile market. BexBack Exchange is ramping up its efforts to offer traders unmatched promotional packages. The platform now features a 100% deposit bonus, a $50 welcome bonus for new users, and 100x leverage on cryptocurrency trading, providing exceptional opportunities for investors.

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    What Is 100x Leverage and How Does It Work?

    Simply put, 100x leverage allows you to open larger trading positions with less capital. For example:

    Suppose the Bitcoin price is $100,000 that day, and you open a long contract with 1 BTC. After using 100x leverage, the transaction amount is equivalent to 100 BTC.

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    About BexBack?

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    Sign Up Now on BexBack — Break the 100x Leverage and KYC Barriers, Get Double Deposit Bonus and $50 Welcome Bonus Instantly

    Website: www.bexback.com

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    Contact:
    Amanda
    business@bexback.com

    Disclaimer: This content is provided by BexBack 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. 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. 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. Speculate only with funds that you can afford to lose. 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.

    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 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.

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/75dfe1b8-8cf9-41ec-88c9-24d828f769ce

    https://www.globenewswire.com/NewsRoom/AttachmentNg/eb46837a-b989-40bd-8f96-a6c1d8fb5bd4

    https://www.globenewswire.com/NewsRoom/AttachmentNg/55e1af21-0037-4462-9677-ab7a4a05c910

    https://www.globenewswire.com/NewsRoom/AttachmentNg/2dc9b0c1-3740-4e1c-968f-da9b94510540

    The MIL Network –

  • MIL-OSI Economics: Fulfilling central bank mandates in times of high uncertainty

    Source: Bank for International Settlements

    Central bank mandates have evolved over the past two decades both globally and in Latin America, especially in terms of the interaction of monetary and financial stability mandates. To effectively fulfil the mandates, central banks need to have an adequate set of tools matching their objective. When a central bank faces rising domestic political pressures, it is all the more important to preserve its independence. When geopolitical or trade tensions affect the macroeconomy, the central bank would need to work in close cooperation with other financial authorities to come up with an effective policy mix. Finally, in times of global fragmentation, central banks would need to make further efforts to increase dialogue among themselves.

    MIL OSI Economics –

  • MIL-OSI Global: AI is automating our jobs – but values need to change if we are to be liberated by it

    Source: The Conversation – Global Perspectives – By Robert Muggah, Richard von Weizsäcker Fellow na Bosch Academy e Co-fundador, Instituto Igarapé

    Artificial intelligence may be the most significant disruptor in the history of mankind. Google’s CEO Sundar Pichai famously described AI as “more profound than the invention of fire or electricity”. OpenAI’s CEO Sam Altman claims it has the power to cure most diseases, solve climate change, provide personalized education to the world, and lead to other “astounding triumphs”.

    AI will undoubtedly help solve vast problems, while generating vast fortunes for technology companies and investors. However, the rapid spread of generative AI and machine learning will also automate vast swathes of the global workforce, eviscerating white-collar and blue-collar jobs alike. And while millions of new jobs will surely be created, it is not clear what happens when potentially billions more are lost.

    The Insights section is committed to high-quality longform journalism. Our editors work with academics from many different backgrounds who are tackling a wide range of societal and scientific challenges.

    Amid the breathless promises of productivity gains from AI, there are rising concerns that the political, social and economic fallout from mass labour displacement will deepen inequality, strain public safety nets, and contribute to social unrest.

    A 2023 survey in 31 countries found that over half of all respondents felt “nervous” about the impacts of AI on their daily lives and believed it will negatively impact their jobs. Concerns are also mounting about the ways in which AI is being weaponized and could hasten everything from geopolitical fragmentation to nuclear exchanges. While experts are sounding the alarm, it is increasingly clear that governments, businesses and societies are unprepared for the AI revolution.

    The coming AI upheaval

    The idea that machines would one day replace human labour is hardly new. It features in novels, films and countless economic reports stretching back over centuries. In 2013, Carl-Benedikt Frey and Michael Osborne of the University of Oxford attempted to quantify the human costs, estimating that “47% of total US employment is in the high risk category, meaning that associated occupations are potentially automatable”. Their study triggered a global debate about the far-reaching consequences of automation not just for manufacturing jobs, but also service and knowledge-based work.

    Fast forward to today, and AI capabilities are advancing faster than almost anyone expected. In November 2022, OpenAI launched ChatGPT, which dramatically accelerated the AI race. By 2023, Goldman Sachs projected that “roughly two-thirds of current jobs are exposed to some degree of AI automation” and that up to 300 million jobs worldwide could be displaced or significantly altered by AI.

    A more detailed McKinsey analysis estimated that “Gen AI and other technologies have the potential to automate work activities that absorb up to 70% of employees’ time today”. Brookings found that “more than 30% of all workers could see at least 50% of their occupation’s tasks disrupted by generative AI”. Although the methodologies and estimates differ, all of these studies point to a common outcome: AI will profoundly upset the world of work.

    While it is tempting to compare the impacts of AI automation to past industrial revolutions, it is also short-sighted. AI is arguably more transformative than the combustion engine or Internet because it represents a fundamental shift in how decisions are made and tasks are performed. It is not just a new tool or source of power, but a system that can learn, adapt, and make independent decisions across virtually all sectors of the economy and aspects of human life. Precisely because AI has these capabilities, scales exponentially, and is not confined by geography, it is already starting to outperform humans. It signals the advent of a post-human intelligence era.

    Goldman Sachs estimates that 46% of administrative work and 44% of legal tasks could be automated within the next decade. In finance and legal sectors, tasks such as contract analysis, fraud detection, and financial advising are increasingly handled by AI systems that can process data faster and more accurately than humans. Financial institutions are rapidly deploying AI to reduce costs and increase efficiency, with many entry-level roles set to disappear. Global banks could cut as many as 200,000 jobs in the next three to five years on account of AI.

    Ironically, coding and software engineering jobs are among the most vulnerable to the spreading of AI. While there are expectations that AI will increase productivity and streamline routine tasks with many programmers and non-programmers likely to benefit, some coders confess that they are becoming overly reliant on AI suggestions (which undermines problem-solving skills).

    Anthropic, one of the leading developers of generative AI systems, recently launched an Economic Index based on millions of anonymised uses of its Claude chatbot. It reveals massive adoption of AI in software engineering: “37.2% of queries sent to Claude were in this category, covering tasks like software modification, code debugging, and network troubleshooting”.

    AI is also outperforming humans in a growing array of medical imaging and diagnosis roles. While doctors may not be replaced outright, support roles are particularly vulnerable and medical professionals are getting anxious. Analysts insist that high-skilled jobs are not at risk even as AI-driven diagnostic tools and patient management systems are steadily being deployed in hospitals and clinics worldwide.

    Meanwhile, the creative sectors also face significant disruption as AI-generated writing and synthetic media improve. The demand for human journalists, copywriters, and designers is already falling just as AI-generated content (including so-called “slop”: the growing amount of low-quality text, audio and video flooding social media) expands. And in education, AI tutoring systems, adaptive learning platforms, and automated grading could reduce the need for human teachers, not only in remote learning environments.

    Arguably the most dramatic impact of AI in the coming years will be in the manufacturing sector. Recent videos from China offer a glimpse into a future of factories that run 24/7 and are nearly entirely automated (except a handful in supervising roles). Most tasks are performed by AI-powered robots and technologies designed to handle production and, increasingly, support functions.

    Unlike humans, robots do not need light to operate in these “dark factories”. CapGemini describes them as places “where raw materials enter, and finished products leave, with little or no human intervention”. Re-read that sentence. The implications are profound and dizzying: efficiency gains (capital) that come at the cost of human livelihoods (labor) and rapid downward spiral for the latter if no safeguards are put in place.

    Some have confidently argued that, as with past technological shifts, AI-driven job losses will be offset by new opportunities. AI enthusiasts add that it will mostly handle repetitive or boring tasks, freeing humans for more creative work — like giving doctors more time with patients, teachers more time to engage with students, lawyers more time to concentrate on client relationships, or architects more time to focus on innovative design. But this historical comfort overlooks AI’s radical novelty: for the first time, we’re confronted with a technology that is not just a tool but an autonomous agent, capable of making decisions and directly shaping reality. The question is not just what we can do with AI, but what AI might do to us.

    AI will certainly save time. Machine learning already interprets scans faster and cheaper than doctors. But the idea that this will give professionals more time for creative or human-centered work is less convincing. Already doctors are not short on technology; they are short on time because healthcare systems prioritise efficiency and cost-cutting over “time with patients”. The rise of technology in healthcare has coincided with doctors spending less time with patients, not more, as hospitals and insurers push for higher throughput and lower costs. AI may make diagnosis quicker, but there is little reason to think it will loosen the grip of a system designed to maximise output rather than human connection.

    Nor is there much reason to expect AI to liberate office workers for more creative tasks. Technology tends to reinforce the values of the system into which it is introduced. If those values are cost reduction and higher productivity, AI will be deployed to automate tasks and consolidate work, not to create breathing room. Workflows will be redesigned for speed and efficiency, not for creativity or reflection. Unless there is a deliberate shift in priorities — a move to value human input over raw output — AI is more likely to tighten the screws than to loosen them. That shift seems unlikely anytime soon.

    AI’s uneven impacts

    AI’s impact on employment will not be felt equally around the world. It will impact different countries differently. Disparities in political systems, economic development levels, labour market structures and access to AI infrastructure (including energy) are shaping how regions are preparing for and are likely to experience AI-driven disruption. Smaller, wealthier countries are potentially in a better position to manage the scale and speed of job displacement. Some lower-income societies may be cushioned by the disruption owing to limited market penetration of AI services altogether. Meanwhile, high and medium income countries may experience social turbulence and potentially unrest as a result of rapid and unpredictable automation.

    The United States, the current leader in AI development, faces significant exposure to AI-driven disruption, particularly in services. A 2023 study found that highly educated workers in professional and technical roles are most vulnerable to displacement. Knowledge-based industries such as finance, legal services, and customer support are already shedding entry-level jobs as AI automates routine tasks.

    Technology companies have begun shrinking their workforces, using that also as signals to both government and business. Over 95,000 workers at tech companies lost their jobs in 2024. Despite its AI edge, America’s service-heavy economy leaves it highly exposed to automation’s downsides.

    Asia stands at the forefront of AI-driven automation in manufacturing and services. It is not just China, but countries like South Korea that are deploying AI in so-called “smart factories” and logistics with fully automated production facilities becoming increasingly common. India and the Philippines, major hubs for outsourced IT and customer service, face pressure as AI threatens to replace human labour in these sectors. Japan, with its shrinking workforce, sees AI more as a solution than a threat. But the broader region’s exposure to automation reflects its deep reliance on manufacturing and outsourcing, making it highly vulnerable to AI-driven job displacement in a geopolitically turbulent world.

    Europe is taking early regulatory steps to manage AI’s labour market impact. The EU’s AI Act aims to regulate high-risk AI applications, including those affecting employment. Yet in Eastern Europe, where manufacturing and low-cost labour underpin economic competitiveness, automation is already cutting into job security. Poland and Hungary, for example, are seeing a rise in automated production lines. Western Europe’s knowledge-based economies face risks similar to those in America, particularly in finance and professional services.

    Oil-rich Gulf states are investing heavily in AI as part of diversification efforts away from a dependence on hydrocarbons. Saudi Arabia, the UAE, and Qatar are building AI hubs and integrating AI into government services and logistics. The UAE even has a Minister of State for AI. But with high youth unemployment and a reliance on foreign labour, these countries face risks if AI reduces demand for low-skill jobs, potentially worsening inequality.

    In Latin America, automation threatens to disrupt manufacturing and agriculture, but also sectors like mining, logistics, and customer service. As many as 2-5% of all jobs in the region are at risk, according to the International Labor Organization and World Bank. And it is not just young people in the formal service sectors, but also human labour in mining operations, logistics and warehouse workers. Call centers in Mexico and Colombia face pressure as AI-powered customer service bots reduce demand for human agents. And AI-driven crop monitoring, automated irrigation, and robotic harvesting threaten to replace farm labourers, particularly in Brazil and Argentina. Yet the region’s large informal labour market may cushion some of the shock.

    While most Africans are optimistic about the transformative potential of AI, adoption remains low due to limited infrastructure and investment. However, the continent’s rapidly growing digital economy could see AI play a transformative role in financial services, logistics, and agriculture. A recent assessment suggests AI could boost productivity and access to services, but without careful management, it risks widening inequality. As in Latin America, low wages and high levels of informal employment reduce the financial incentive to automate. Ironically, weaker economic incentives for automation may shield these economies from the worst of AI’s labour disruption.

    No one is prepared

    The scale and speed of recent AI developments have taken many governments and businesses by surprise. To be sure, some are proactively taking steps to prepare workforces for the transformation. Hundreds of AI laws, regulations, guidelines, and standards have emerged in recent years, though few of them are legally binding. One exception is the EU’s AI Act, which seeks to establish a comprehensive legal framework for AI deployment, addressing risks such as job displacement and ethical concerns. China and South Korea have also developed national AI strategies with an emphasis on industrial policy and technological self-sufficiency, aiming to lead in AI and automation while boosting their manufacturing sectors.

    Notwithstanding recent attempts to increase oversight over AI, the US has adopted an increasingly laissez-faire approach, prioritising innovation by reducing regulatory barriers. This “minimal regulation” stance, however, raises concerns about the potential societal costs of rapid AI adoption, including widespread job displacement, the deepening of inequality and undermining of democracy.

    Other countries, particularly in the Global South, have largely remained on the sidelines of AI regulation, lacking the awareness, capabilities or infrastructure to tackle these issues comprehensively. As such, the global regulatory landscape remains fragmented, with significant disparities in how countries are preparing for the workforce impacts of automation.

    Businesses are under pressure to adopt AI as fast and deeply as possible, for fear of losing competitiveness. That’s, at least, the hyperbolic narrative that AI companies have succeeded in putting forward. And it’s working: a recent poll of 1,000 executives found that 58% of businesses are adopting AI due to competitive pressure and 70% say that advances in technology are occurring faster than their workforce can incorporate them.

    Another new survey suggests that over 40% of global employers planned to reduce their workforce as AI reshapes the labour market. Lost in the rush to adopt AI is a serious reflection on workforce transition. Financial institutions, consulting firms, universities and nonprofit groups have sounded alarms about the economic impact of AI but have provided few solutions other than workforce up-skilling and Universal Basic Income (UBI). Governments and businesses are wrestling with a basic challenge: how to manage the benefits of AI while protecting workers from displacement.

    AI-driven automation is no longer a future prospect; it is already reshaping labour markets. As automation reduces human workforces, it will also diminish the power of unions and collective bargaining furthering entering capital over labour. Whether AI fosters widespread prosperity or deepens inequality and social unrest depends not just on the imperatives of tech company CEOs and shareholders, but on the proactive decisions made by policymakers, business leaders, union representatives, and workers in the coming years.

    The key question is not if AI will disrupt labour markets — this is inevitable — but how societies will manage the upheaval and what kinds of “new bargains” will be made to address its negative externalities. It is worth recalling that while the last three industrial revolutions created more jobs than they destroyed, the transitions were long and painful. This time, the pace of change will be faster and more profound, demanding swift and enlightened action.

    At a minimum, governments must prepare their societies to develop a new social contract, prioritise retraining programs, bolster social safety nets, and explore UBI to help workers displaced by automation. They should also proactively foster new industries to absorb the displaced workforce. Businesses, in turn, will need to rethink workforce strategies and adopt human-centric AI deployment models that prioritise collaboration between humans and machines, rather than substitution of the former by the latter.

    The promise of AI is immense, from boosting productivity to creating new economic opportunities and indeed helping solving big collective problems. Yet, without a focused and coordinated effort, the technology is unlikely to develop in ways that benefit society at large.

    Dr. Robert Muggah is the co-founder of the Igarapé Institute, an independent think and do tank that develops research, solutions and partnerships to address global public, digital and climate security challenges. Dr. Muggah is also a principal of the SecDev Group, and an advisor to the United Nations, the IMF and the World Bank. An advisor to AI start-ups and a climate tech venture firms, Dr. Muggah has experience developing new technologies and testing AI systems for security and governance. He also coordinated a global task force on predictive analytics and AI in the Global South since in 2023.

    Bruno Giussani não presta consultoria, trabalha, possui ações ou recebe financiamento de qualquer empresa ou organização que poderia se beneficiar com a publicação deste artigo e não revelou nenhum vínculo relevante além de seu cargo acadêmico.

    – ref. AI is automating our jobs – but values need to change if we are to be liberated by it – https://theconversation.com/ai-is-automating-our-jobs-but-values-need-to-change-if-we-are-to-be-liberated-by-it-253806

    MIL OSI – Global Reports –

  • MIL-OSI Video: Session 3: Does AI matter for monetary policy?

    Source: European Central Bank (video statements)

    Session 3: Does AI matter for monetary policy?

    Session chair: Wolfgang Lemke, ECB

    Implications of AI usage for financial stability: evidence from AI-driven investment funds identified by generative AI amid interest rate hikes

    Joe Ho-Yeung Wong*, Victor Pak-Ho Leung and Siru Lu, all Hong Kong Monetary Authority

    Discussant: Shams Pathan, Newcastle University

    Simulating the Survey of professional forecasters

    Sophia Kazinnik*, Stanford HAI
    Anne Lundgaard Hansen, Federal Reserve Bank of Richmond
    John J. Horton, MIT Sloan School of Management
    Daniela Puzzello, Indiana University Bloomington
    Ali Zarifhonarvar, Indiana University Bloomington

    Discussant: Michael Ehrmann, ECB

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

    MIL OSI Video –

  • MIL-OSI USA: Congressman Morgan Luttrell Introduces the Brian Tally VA Employment Transparency Act of 2025 to Improve Accountability in VA Health Care

    Source:

    WASHINGTON – Congressman Morgan Luttrell (R-TX) introduced the Brian Tally VA Employment Transparency Act of 2025, a critical piece of legislation aimed at ensuring accountability and transparency within the Department of Veterans Affairs (VA) health care system. This bill is named after Brian Tally, a Marine Corps veteran who suffered devastating consequences due to medical negligence at a VA hospital and the lack of accountability within the system.

    “Our veterans deserve the highest standard of care, and they deserve to know that those entrusted with their health will be held accountable,” said Congressman Luttrell. “This legislation ensures transparency and safeguards veterans from negligent medical providers, whether they are directly employed by the VA or working under contract.”

    Key Provisions of the Act:

    1. Non-Department Provider Accountability:

    • Requires the VA to provide affected individuals with details on malpractice cases involving non-VA providers within 45 days of a civil action being filed.
    • Prohibits non-VA providers with five or more malpractice cases within five years from working in VA facilities.
    • Establishes an appeals process for providers who have their authorization revoked.

    2. Notification Requirements:

    • Mandates that the VA report malpractice judgments to state licensing boards and the National Practitioner Data Bank.
    • Requires the VA to publicly post information about veterans’ rights, claims procedures, and time limits for recovery.

    3. Accountability for VA Physicians:

    • Directs the VA to take action against VA-employed physicians who have three or more malpractice judgments or settlements within a five-year period.

    4. Implementation:

    • Applies to malpractice incidents occurring after the Act’s enactment.

    Background:

    In 2016, Brian Tally suffered life-altering consequences due to gross medical negligence at a VA hospital. Despite admitting fault, the VA ultimately denied accountability, citing an outdated policy that shielded the agency from responsibility for malpractice committed by independent contractors. As a result, Tally faced severe financial and personal hardship, including the loss of his small business and near foreclosure of his home.

    MIL OSI USA News –

  • MIL-OSI: STMicroelectronics Announces Timing for First Quarter 2025 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    STMicroelectronics Announces Timing for First Quarter 2025 Earnings Release and Conference Call

    Geneva – April 4, 2025 – STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, announced that it will release first quarter 2025 earnings before the opening of trading on the European Stock Exchanges on April 24, 2025.

    The press release will be available immediately after the release on the Company’s website at www.st.com.

    STMicroelectronics will conduct a conference call with analysts, investors and reporters to discuss its first quarter 2025 financial results and current business outlook on April 24, 2025 at 9:30 a.m. Central European Time (CET) / 3:30 a.m. U.S. Eastern Time (ET).

    A live webcast (listen-only mode) of the conference call will be accessible at ST’s website, https://investors.st.com, and will be available for replay until May 9, 2025.

    About STMicroelectronics
    At ST, we are 50,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An integrated device manufacturer, we work with more than 200,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of cloud-connected autonomous things. We are on track to be carbon neutral in all direct and indirect emissions (scopes 1 and 2), product transportation, business travel, and employee commuting emissions (our scope 3 focus), and to achieve our 100% renewable electricity sourcing goal by the end of 2027.
    Further information can be found at www.st.com.

    INVESTOR RELATIONS
    Jérôme Ramel
    EVP Corporate Development & Integrated External Communication
    Tel: +41.22.929.59.20
    jerome.ramel@st.com

    MEDIA RELATIONS
    Alexis Breton
    Corporate External Communications
    Tel: +33.6.59.16.79.08
    alexis.breton@st.com

    Attachment

    The MIL Network –

  • MIL-OSI: SB Financial Group, Inc. Announces Schedule for First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    DEFIANCE, Ohio, April 04, 2025 (GLOBE NEWSWIRE) — SB Financial Group, Inc. (NASDAQ: SBFG), a diversified financial services company providing full-service community banking, mortgage banking, wealth management, private client and title insurance services, expects to release its first quarter 2025 financial results on Thursday, May 1, 2025, after the close of the market. The company will hold a related conference call and webcast on Friday, May 2, 2025, at 11:00 a.m. EDT.

    Interested parties may access the conference call by dialing 888-338-9469 and requesting the “SB Financial Group Conference Call.” The conference call will also be webcast live at ir.yourstatebank.com. An audio replay of the call will be available on the SB Financial Group website.

    About SB Financial Group
    Headquartered in Defiance, Ohio, SB Financial Group is a diversified financial services holding company for The State Bank and Trust Company (State Bank) and SBFG Title, LLC, dba Peak Title (Peak Title). State Bank provides a full range of financial services for consumers and small businesses, including wealth management, private client services, mortgage banking, and commercial and agricultural lending, operating through a total of 26 offices: 24 in 10 Ohio counties, two in Northeast, Indiana, and 26 ATMs. State Bank has six loan production offices located throughout the Tri-State region of Ohio, Indiana, and Michigan. Peak Title provides title insurance and title opinions throughout the Tri-State and Kentucky. SB Financial Group’s common stock is listed on the NASDAQ Capital Market with the ticker symbol “SBFG”.

    Investor Contact Information:

    Mark A. Klein
    Chairman, President and Chief Executive Officer
    419-783-8920

    Anthony V. Cosentino            
    Executive Vice President and Chief Financial Officer           
    419-785-3663            

    The MIL Network –

  • MIL-OSI: Guaranteed Rate Affinity Appoints Lynne Haney as Vice President of Mortgage Lending

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, April 04, 2025 (GLOBE NEWSWIRE) — Guaranteed Rate Affinity, a leading mortgage provider offering unparalleled lending services through its exclusive partnership with Coldwell Banker, has appointed Lynne Haney as Vice President of Mortgage Lending. With more than 35 years of industry experience and a strong track record of community involvement, Haney brings deep expertise and a service-first mindset to the role.

    “I’ve had the privilege of helping hundreds of homebuyers secure the right financing while making their journey as seamless and enjoyable as possible,” said Haney. “I’m truly passionate about what I do—and I believe in giving back. For every purchase and refinance loan I close, I donate to local charities that support causes close to my heart.”

    Haney has been consistently recognized for her performance, including being named among the Top 1% of originators nationwide by Mortgage Executive Magazine in 2020 and earning top honors in the Best of the 603 survey. She has also served in various leadership roles with the Capital Region and Sunapee Region Boards of REALTORS® and America’s Credit Union Museum, where she chaired the Financial Literacy Education Committee.

    “Lynne’s experience and deep commitment to her clients and community make her a standout addition to our team,” said Scott Throneberry, Executive Vice President, National Sales. “She reflects the values we hold as a company, and we’re confident she’ll make an immediate impact on our growth and client experience.”

    Haney joins Guaranteed Rate Affinity as the company continues expanding its presence and capabilities across key markets. Her leadership will support the company’s mission to deliver exceptional service and results for borrowers and real estate partners alike.

    About Guaranteed Rate Affinity

    Guaranteed Rate Affinity is a joint venture between Guaranteed Rate, Inc. and Anywhere Integrated Services (NYSE: HOUS), which owns some of the industry’s most recognized and respected real estate brands. The innovative JV has funded over $100 billion in loans since its inception. Guaranteed Rate Affinity originates and markets its mortgage lending services to Anywhere’s real estate, brokerage, and relocation subsidiaries.

    Guaranteed Rate Affinity provides unmatched support to Anywhere brokers coast-to-coast, ensuring their customers receive fast pre-approvals, appraisals, and loan closings, creating the ability for buyers to move quickly and confidently when purchasing homes in today’s competitive market. The company also provides the same services to the public and other real estate brokerage and relocation companies across the country—helping employers improve their employees’ relocation experience by prioritizing customer service, digital mortgage ease, and competitive rates.

    Guaranteed Rate owns a controlling 50.1% stake in Guaranteed Rate Affinity, and Anywhere owns 49.9%. Visit grarate.com for more information.

    Media Contact:
    press@rate.com

    The MIL Network –

  • MIL-OSI: First Western Financial, Inc. to Report First Quarter 2025 Financial Results on Thursday, April 24

    Source: GlobeNewswire (MIL-OSI)

    DENVER, April 04, 2025 (GLOBE NEWSWIRE) — First Western Financial, Inc. (NASDAQ: MYFW), a financial services holding company headquartered in Denver, Colorado (“First Western”), announced today that it will release financial results for its first quarter ended March 31, 2025 after the markets close on Thursday, April 24, 2025.

    Management will hold a conference call at 10:00 a.m. Mountain Time/12:00 p.m. Eastern Time on Friday, April 25, 2025, to discuss First Western’s financial results. Analysts and investors may participate in the question-and-answer session. The conference call will be webcast live on the News & Events page of First Western’s investor relations website.

    Participants on the conference call will need to click on the Telephone Access link provided below, register for the conference call, and then they will receive the dial-in number and a personalized PIN code.

    Conference Call and Webcast Information:

    Date: Friday, April 25, 2025

    Time: 10:00 a.m. MT / 12:00 p.m. ET

    Telephone Access: https://register-conf.media-server.com/register/BI019349e043a94dc394d0159a3c41719d

    Webcast Access: A live webcast will be available on the News & Events page of First Western’s investor relations website. An archived version of the webcast will be available in the same location shortly after the live call has ended.

    About First Western Financial, Inc.

    First Western is a financial services holding company headquartered in Denver, Colorado, with operations in Colorado, Arizona, Wyoming, California, and Montana. First Western Financial, Inc. and its subsidiaries provide a fully integrated suite of wealth management services on a private trust bank platform, which includes a comprehensive selection of deposit, loan, trust, wealth planning and investment management products and services. First Western’s common stock is traded on the NASDAQ Global Select Market under the symbol “MYFW.” For more information, please visit www.myfw.com.

    Contacts:
    Financial Profiles, Inc.
    Tony Rossi
    310-622-8221

    MYFW@finprofiles.com
    IR@myfw.com

    The MIL Network –

  • MIL-OSI: SunRocket Capital and Novel Energy Solutions Strengthen Partnership with New Project Financing

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, April 04, 2025 (GLOBE NEWSWIRE) — SunRocket Capital, a structured finance partner to solar developers, is pleased to announce the closing of financing for a ground-mount community solar installation in Sidney, Maine (ME) with Novel Energy Solutions. The 1.93 MW (DC) project is in development and has qualified for Renewable Energy Credits (REC’s) and is the fifth Novel Energy Solutions project that SunRocket Capital has funded within the last several months.

    “It is our mission to understand the needs of our client developers and to assure them that they have a financial partner that will close their construction to permanent loan needs,” said Derek Gabriel Sr., Head of Originations at SunRocket Capital. “We see Novel Energy Solutions as great partners and will always work diligently to meet the goals of our clients.”

    The previous projects funded by SunRocket Capital for Novel Energy Solutions included four solar projects that are currently in various stages of development across Maine and Minnesota. With the fifth project in Sidney, ME, a combined total of over $28.8 million in funding has been deployed for Novel Energy Solutions community solar portfolio by the SunRocket Capital team. The financing for these projects will provide critical support as they transition from construction to operational status.

    Among the projects funded are Swartley, Philbrick, and Lebanon located in Maine, and Hilde located in Minnesota. An additional Minnesota project will be added later this month. These projects will be completed by late 2025, with each set to come online within 12 months of their respective closing dates.

    The closing of these deals builds on a strong history of collaboration between SunRocket Capital and Novel Energy Solutions, helping the developer achieve its ambitious goals of bringing clean, renewable energy to underserved regions. Their partnership has allowed Novel Energy Solutions to execute and finance projects at scale, creating sustainable energy solutions that benefit both local communities and the environment.

    “SunRocket Capital was able to tailor and coordinate the debt financing to the needs of the project,” stated Matt Sullivan, Project Finance Director at Novel Energy Solutions. “They understood that sometimes development needs may change, especially with an evolving community solar pipeline. The ability to continuously meet the challenges of our portfolio requirements remains very appealing and makes for a strong team. That is why SunRocket Capital continues to stand out.”

    About SunRocket Capital:
    SunRocket Capital is a leading private lender specializing in financing commercial, industrial, and community solar projects. Led by an experienced team in solar development and structured finance, SunRocket Capital is dedicated to advancing sustainable initiatives by serving as a preferred capital source, including serving as a resource for tax equity investments as necessary, for developers and EPCs. The company’s core structured credit solution (SolarC2P™) is designed to support solar projects at or near NTP (Notice to Proceed), which is the time in a project’s life cycle when developers are prepared to purchase and install solar assets. Upon reaching commercial operation date (COD), developers benefit from a seamless conversion to term debt within the same loan structure, facilitating long-term ownership, operation, and portfolio-building.

    For more information please visit: www.sunrocketcapital.com.

    About Novel Energy Solutions:
    Novel Energy Solutions is a growing solar development company headquartered in St. Paul, MN. The company was born out of a multi-generational farming family, leveraging this background and extensive relationship with farmers and landowners to acquire and develop solar sites within Minnesota that participate in the Xcel community solar program.

    The company has expanded its development efforts into Iowa, Illinois, Colorado, and Maine. The company is vertically integrated and manages the EPC, procurement, O&M, subscriber, and asset management for its community solar installations.

    For more information, please visit www.novelenergy.biz

    The MIL Network –

  • MIL-OSI: Purpose Investments Announces Upcoming Termination of Purpose Special Opportunities Fund

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, April 04, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”) announced today, after careful consideration, that it has decided to terminate Purpose Special Opportunities Fund (the “Fund”) no later than the end of 2025 (the “Termination Date”).

    Purpose is of the view that the termination of the Fund is in the best interest of its shareholders. The decision to close the Fund was driven by its relatively low assets under management, which were at $12.5 mm as of April 3, 2025.

    Currently, the Fund’s sole remaining holding is Prio S.A., a publicly listed Brazilian oil & gas company originally acquired by the Fund in November 2009. As of April 3, 2025, the Fund’s investment in Prio S.A. has generated strong returns, with its share price increasing by 751% in Brazilian Real terms over the last five years. The performance of this security has been a major contributor to the Fund’s 25.37% annualized return over that same period.

    As part of the termination of the Fund, Purpose has initiated a process to liquidate the Fund’s Prio S.A. position. Purpose, as the Fund Manager, is now engaged in a process to re-register the Fund’s Prio S.A. shares with the Central Bank of Brazil, as the central registrar of publicly traded shares. This re-registration and divestiture, which is currently underway, requires Purpose to work directly with the Prio S.A, the Fund’s banking partners, and Brazilian authorities.

    Additionally, as a result of the decision to terminate the Fund, Purpose has decided to cease offering purchases of new shares of the Fund. Acting in accordance with its standard of care and its obligations as an investment fund manager, Purpose will continue to accept requests for the redemptions of shares of the Fund, though processing of some redemptions may, in certain circumstances, be delayed as the Fund re-registers the Prio S.A. shares it owns with the Central Bank of Brazil.

    Series A Shares and Series F Shares will be automatically redeemed on the Termination Date, with the proceeds either deposited into the shareholder’s account or mailed by cheque directly to the shareholder or to their dealer, nominee, or intermediary, as applicable. There will be no fees or redemption charges applicable to such redemptions.

    If required, a final distribution for the Fund will occur on or about the Termination Date.

    About Purpose Investments Inc.

    Purpose Investments Inc. is an asset management company with more than $23 billion in assets under management. Purpose Investments Inc. has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.

    For further information, please email us at info@purposeinvest.com.

    Media Inquiries
    Keera Hart
    Keera.Hart@kaiserpartners.com
    905-580-1257

    Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. The prospectus contains important detailed information about the investment fund. Please read the prospectus before investing. There is no assurance that any fund will achieve its investment objective, and its net asset value, yield, and investment return will fluctuate from time to time with market conditions. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.

    Forward-Looking Information

    Purpose cautions the reader not to place undue reliance upon any such forward-looking statements contained herein, which speak only as of the date they are made. Generally, but not always, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “on pace”, “anticipates”, or “does not anticipate”, “believes”, and similar expressions or state that certain actions, events or results “may”, “could”, “would”, “should”, “might”, or “will” be taken, occur or be achieved.

    Forward-looking statements are based on information available to management at the time they are made, management’s current plans, estimates, assumptions, judgments and expectations. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Purpose to be materially different from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: general business, economic, competitive, geopolitical, technological and social uncertainties. Although the forward-looking information contained in this press release is based on assumptions that Purpose believes to be reasonable at the date such statements are made, there can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Purpose does not undertake to update or revise any forward-looking information, except in accordance with applicable securities laws.

    The MIL Network –

  • MIL-OSI: NextNRG Extends Fueling Services to Sunbelt Rentals in Texas, Advancing Recurring Revenue Strategy

    Source: GlobeNewswire (MIL-OSI)

    Fueling operations now span six states with 144 active trucks, enabling broader service coverage and supporting growth in key commercial markets

    February fuel deliveries experienced 166% year-over-year growth

    MIAMI, April 04, 2025 (GLOBE NEWSWIRE) — NextNRG, Inc. (NASDAQ: NXXT), a pioneer in AI-driven energy innovation—transforming how energy is produced, managed and delivered through its advanced Utility Operating System, smart microgrid technology, wireless EV charging and on-demand mobile fuel delivery solutions—today announced the expansion of its commercial relationship with Sunbelt Rentals, one of North America’s largest equipment rental companies. Building on existing operations in Florida, the company will now support Sunbelt Rentals’ fueling needs in Texas.

    NextNRG’s mobile fueling platform provides direct-to-asset fuel delivery to commercial fleets, eliminating the need to travel to fueling stations and enabling efficient site-level logistics. The company currently operates a national delivery fleet of 144 trucks, delivering fuel across key markets, including Los Angeles, San Francisco, Detroit, Nashville, Phoenix, and major metro areas throughout Florida and Texas.

    NextNRG is expanding its fueling of Sunbelt equipment both at rental branches and directly on job sites, to the great State of Texas. To further support the relationship, NextNRG has developed a custom fueling portal for Sunbelt at sunbelt.ezfl.com/login, allowing authorized users to schedule deliveries, track fueling activity, and access real-time data and reporting.

    The expansion with Sunbelt Rentals follows the company’s recent integration of delivery assets from Shell Oil Products US and Yoshi Mobility, increasing its fleet capacity and geographic reach. These transactions support NextNRG’s strategy of serving enterprise customers across multiple states through centralized account management and operational scalability.

    “We’re pleased to deepen our relationship with Sunbelt Rentals, a valued partner that exemplifies the kind of long-term customer engagement we aim to scale nationally,” said Michael D. Farkas, Founder and CEO of NextNRG. “This expansion into Texas follows our second consecutive month of record mobile fueling performance, and we believe it reflects both the growing utility of our fueling platform and the operational value we deliver to partners managing high-demand fleets. The ability to service equipment directly on job sites or at their rental yards enhances efficiency and helps ensure uninterrupted project timelines.”

    NextNRG’s mobile fueling division delivered approximately 1.44 million gallons in February, representing 166% year-over-year growth and marking its highest monthly revenue to date. According to company estimates, direct-to-site fueling can reduce fleet fueling costs by over $3,000 per vehicle annually by minimizing fuel loss, labor inefficiencies and downtime.

    Service Overview:

    • On-Site Fuel Delivery: Fuel delivered directly to fleet equipment on-site
    • Scheduled and On-Demand Options: Flexible logistics to meet operational timelines
    • Centralized Reporting Tools: Fuel usage data and spend visibility for cost management
    • National Service Consistency: Support for multi-region operators via a single platform
    • Custom Fleet Portal Access: Secure user interface for scheduling, tracking, and reporting fueling activity

    Texas represents one of the most active construction and industrial equipment markets in the U.S., making it a priority geography for NextNRG’s expansion efforts. The company anticipates continued growth in fleet fueling volume and market penetration across this region throughout 2025.

    About NextNRG, Inc.
    NextNRG Inc. (NextNRG) is Powering What’s Next by implementing artificial intelligence (AI) and machine learning (ML) into renewable energy, next-generation energy infrastructure, battery storage, wireless electric vehicle (EV) charging and on-demand mobile fuel delivery to create an integrated ecosystem.

    At the core of NextNRG’s strategy is its Utility Operating System, which leverages AI and ML to help make existing utilities’ energy management as efficient as possible; and the deployment of NextNRG smart microgrids, which utilize AI-driven energy management alongside solar power and battery storage to enhance energy efficiency, reduce costs and improve grid resiliency. These microgrids are designed to serve commercial properties, healthcare campuses, universities, parking garages, rural and tribal lands, recreational facilities, and government properties, expanding energy accessibility while supporting decarbonization initiatives.

    NextNRG continues to expand its growing fleet of fuel delivery trucks and national footprint, including the acquisition of Yoshi Mobility’s fuel division and Shell Oil’s trucks, further solidifying its position as a leader in the on-demand fueling industry. NextNRG is also integrating sustainable energy solutions into its mobile fueling operations. The company hopes to be an integral part of assisting its fleet customers in their transition to EV, supporting more efficient fuel delivery while advancing clean energy adoption. The transition process is expected to include the deployment of NextNRG’s innovative wireless EV charging solutions.

    To find out more visit: www.nextnrg.com

    Forward-Looking Statements
    This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement describing NextNRG’s goals, expectations, financial or other projections, intentions, or beliefs is a forward-looking statement and should be considered an at-risk statement. Words such as “expect,” “intends,” “will,” and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, including, but not limited to, those related to NextNRG’s business and macroeconomic and geopolitical events. These and other risks are described in NextNRG’s filings with the Securities and Exchange Commission from time to time. NextNRG’s forward-looking statements involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although NextNRG’s forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by NextNRG. Except as required by law, NextNRG undertakes no obligation to update any forward-looking statements for any reason. As a result, you are cautioned not to rely on these forward-looking statements.

    Investor Relations Contact
    NextNRG, Inc.
    Sharon Cohen
    SCohen@nextnrg.com

    The MIL Network –

  • MIL-OSI Global: More than just chips: Chinese threats and Trump tariffs could disrupt lots of ‘made in Taiwan’ imports − disappointing US builders, cyclists and golfers alike

    Source: The Conversation – USA – By Jay L. Zagorsky, Associate Professor Questrom School of Business, Boston University

    A cargo ship and containers are seen at the Port of Keelung in Taiwan on April 3, 2025. I-HWA CHENG/AFP via Getty Images

    What would the United States stand to lose economically if its current access to the Taiwanese market were upended or totally restricted?

    This seemingly theoretical question about the longtime U.S. trading partner has taken on more relevance in the past several weeks. First, longtime fears about a potential Chinese invasion of the island – which Beijing claims as its own – were magnified as China increased military pressure by sending patrols, firing live ammunition nearby, practicing blockading the island and even publicly revealing the existence of new barges that might be used in an invasion. If China uses force, Taiwan’s manufacturing capacity could be destroyed.

    Then on April 2, 2025, President Donald Trump announced a new 32% tariff on imports from Taipei, excluding semiconductors. Taiwan described the new tariffs, part of a radical upending of U.S. trade practices, as “deeply unreasonable.” They could also be deeply painful to U.S. consumers given the outsize role Taiwan imports play.

    The U.S. State Department calls Taiwan an important U.S. partner in “semiconductors and other critical supply chains.” But as I learned studying trade data and visiting the small but thriving island last fall, the U.S. depends on Taiwan for more than just sophisticated computer chips. In 2024, Taiwanese products constituted 3.6% of all U.S. imports.

    Overall trade figures

    Trade figures are known in detail because almost every government carefully tracks the contents of all shipping containers, cargo flights and bulk deliveries that legally leave and enter their borders. These figures are published online and broken down into very fine detail using a system called the Harmonized Tariff Schedule, or HTS. The HTS shows the tax or duty that must be paid for each kind of item and from every kind of country.

    In 2024, the U.S. exported US$1.7 trillion worth of goods to the world. Since few of us can conceptualize trillions, that is about $5,000 for every man, woman and child in the U.S.

    For its part, Taiwan in 2024 exported about that same amount per resident of the island just to the U.S., $5,000 – or about $90 billion overall. The U.S. is Taiwan’s second-biggest trading partner, after mainland China. Looking at their total exports, Taiwan shipped to the entire world about $20,000 worth of items for every resident.

    The vital technology component

    Not surprisingly, Taiwan’s biggest exports to the U.S. are computers, chips and other electronic hardware such as power supplies. These computer chips are so important that they were specifically excluded from the new tariffs.

    However, $90 billion of exports dramatically underestimates the amount of Taiwanese electronics that end up in U.S. hands. For example, the main chip inside all Apple iPhones is Taiwanese. However, these chips are sent from Taiwan to mainland Chinese factories where the phones are assembled. When these iPhones are exported from mainland China, the value of the chips inside the phone is not counted as U.S. imports from Taiwan. Instead, the whole phone is counted as an import from mainland China and slapped with a tariff.

    The building industry

    But while high-technology equipment often gets the headlines, imports from Taiwan are far broader – and the U.S. would face several economic shocks if Taiwan suddenly stopped exporting.

    First, the U.S. building industry could grind to a halt because Taiwan is a major producer of drywall screws. Though small and cheap, that’s a very significant product, given the prominence of drywall in the interior walls of almost every house, office and factory.

    Microchip and Taiwanese flag displayed on a phone screen.
    Jakub Porzycki/NurPhoto via Getty Images

    Overall, the U.S. uses a massive amount of drywall for new construction and remodeling. In 2024, the country consumed about 28 billion square feet of wallboard. That amount is enough to cover almost the state of Rhode Island.

    To hang drywall, every 100 square feet of the sheets needs about 125 screws. And the vast majority came last year from Taiwan. The U.S. imported over two-thirds of a billion dollars’ worth of the screws; the screws weighed over half a billion pounds.

    While the U.S. does make screws, domestic screw manufacturers primarily focus on high-value parts such as screws needed for airplanes, rocket ships and other performance vehicles, not lower-value screws whose wholesale cost is slightly more than a dollar a pound.

    Beyond screws, Taiwan is a major producer of tools. For example, approximately two-thirds of all socket wrenches, band saws, blowtorches, air compressors and grinders imported into the U.S. come from that island. Losing access to tools is not as crucial as losing access to the screws because many tools last a long time. But finding new suppliers is not trivial.

    The other basket of imports

    Finally, Taiwan is also a big U.S. supplier of sports goods.

    The country is a major producer of bicycles, with manufacturers such as Giant. In 2024, the U.S. imported from Taiwan over a quarter of a billion dollars in just bike parts, which U.S. manufacturers such as Specialized and Trek use when assembling bikes.

    Moreover, Taiwan controls a few key parts of the bike market. For example, over half of all bicycle crank sets, derailleurs and brake parts came from Taiwan. Without these products it is impossible to pedal, shift and even stop a bike.

    Taiwan is also one of the world’s leading suppliers of golf clubs, with the U.S. in 2024 importing about a quarter of a billion dollars’ worth of clubs from the island. To go along with the clubs, Taiwan also sent half a billion golf balls. Given that about 25 million people play on golf courses in the U.S. each year, that works out to 20 balls per player in just 2024.

    Finally, the island sent over a third of a million lacrosse sticks last year, which is almost one new stick for every member of the USA Lacrosse federation.

    All together, the data shows that not just Silicon Valley should be worried about geopolitical factors that disrupt imports from Taiwan. Taiwan might be a small island, but as the story of David and Goliath reminds us, size and impact are not related.

    Jay L. Zagorsky does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. More than just chips: Chinese threats and Trump tariffs could disrupt lots of ‘made in Taiwan’ imports − disappointing US builders, cyclists and golfers alike – https://theconversation.com/more-than-just-chips-chinese-threats-and-trump-tariffs-could-disrupt-lots-of-made-in-taiwan-imports-disappointing-us-builders-cyclists-and-golfers-alike-253729

    MIL OSI – Global Reports –

  • MIL-OSI Global: Abolition wasn’t fueled by just moral or economic concerns – the booming whaling industry also helped sink slavery

    Source: The Conversation – USA – By Topher L. McDougal, Professor of Economic Development & Peacebuilding, University of San Diego

    An engraving of whalers at sea attacking a whale with a harpoon from 1820. Kean Collection/Getty Images

    Historians have long debated whether the end of slavery in the United States was primarily driven by moral campaigns or economic changes. But what if both perspectives are looking at only part of the puzzle?

    We are experts in economic development and social movements. Our new research uncovers what we believe to be a surprising and overlooked factor in the decline of slavery in the U.S. – the rise of the whaling industry.

    Starting around 1650, whaling expanded along the Northeast coast of the British American colonies. Whaling expeditions killed whales and brought back to port valuable animal products like oil, used for lamps and other items, and whalebone, used for products ranging from corsets to combs.

    Whalers also brought spermaceti, a waxy substance that comes from a sperm whale’s head and is used to produce candles and lubricants for precision machinery like watches and clocks.

    At its peak, in the 1850s, the American whaling industry alone employed 50,000 to 70,000 workers who worked on an estimated 700 to 800 ships.

    In the decades before cheap oil helped many industries truly take off, whaling played an important, but often overlooked, role in laying the groundwork for the antislavery movement.

    Black sailors made up perhaps 20% to 30% of whaling crews. Of these sailors, some were enslaved and used their hard-won earnings to buy their freedom. Some of these sailors went on to finance abolitionist efforts. Others built houses of worship.

    The whaling industry that produced oil to illuminate 19th-century lamps also added fuel to the fire of the antislavery movement. The city motto of New Bedford, Massachusetts – lucem diffundo, or “I diffuse light” in Latin – referred to the candles and lamps the whaling industry lit, as well as the moral clarity some whalers aspired to promote.

    Three Black whalers stand on a wharf in New Bedford, Mass., in an 1880 drawing.
    Smith Collection/Gado/Getty Images

    The missing link between whaling and abolition

    Slavery in the American colonies began in 1619 with a small enslaved population that grew to about 500,000 by the American Revolution in 1775. As slavery became institutionalized in law and American culture, the number of enslaved people grew, primarily in the South, to as many as 4 million in the years leading up to the Civil War in 1861.

    The first half of the 1800s saw a surge of abolitionist activism, rooted in early Quaker efforts and Indigenous wisdom. Abolitionism reshaped American politics into a fuller democracy, linking Black resistance, feminist struggles and labor rights to the broader fight for democracy and human rights.

    The decline and eventual abolition of slavery has been portrayed as the result of tireless activism and moral persuasion by early Quaker advocates like Benjamin Lay who considered slavery one of the worst sins. Abolitionists like Frederick Douglass would later go on to advocate for the Civil War to force a moral reckoning on the South.

    The result was an antislavery moral high ground from which the United Kingdom, and later the U.S., could measure other countries and monitor the high seas.

    Another common explanation for the end of slavery is the economic argument that slavery declined as fossil fuel-powered machinery replaced enslaved labor on farms and even in factories.

    Our research challenges this binary by showing that before steam engines transformed industry, whaling played an overlooked role in challenging the proposition that slavery was America’s most economically profitable form of labor organization at the time.

    Increased whaling, decreased slavery

    We analyzed data from U.S. Census records and the logbooks of American whaling voyages from 1790 to 1840 – systematized in a dataset maintained by the Mystic Seaport Museum and New Bedford Whaling Museum.

    This data came from well before the 1859 discovery and exploitation of oil in Pennsylvania.

    The results were striking: When the whaling industry brought back more oil, bone and spermaceti to specific ports, the proportion of enslaved people in the corresponding states declined.

    Statistically speaking, we saw a nearly perfect 1-to-1 inverse relationship between whaling and slavery.

    When whaling products went up 1%, slavery proportions went down by almost the same amount in that state in the following years. What’s more, we mapped these findings geographically and discovered that the more whaling occurred, the more widely decreases in slavery occurred in nearby states.

    In other words, our statistics suggest that increases in whaling led to decreases in slavery, and this effect diffused across state lines.

    Why whaling mattered

    Whaling was the first global industry in the colonies that eventually became the U.S.

    Whaling hubs like the Massachusetts towns of Nantucket and New Bedford and the island of Martha’s Vineyard became some of the wealthiest communities in the country.

    Whaling was also one of the few industries where Black Americans, both free and formerly enslaved, could make money and become wealthy. Individuals of all backgrounds could rise through the whaling industry ranks based on skill rather than birth.

    It also required a risk-embracing and entrepreneurial mindset, as immortalized in a song that the writer Herman Melville has the crew sing in the 1851 book Moby-Dick: “So, be cheery, my lads! may your hearts never fail! / While the bold harpooner is striking the whale!”

    By contrast, the plantation economy relied on rigid racial hierarchies and hereditary enslavement.

    Prince Boston was one example of an enslaved whaler, who, in 1773 at the age of 23, won the right in the local Nantucket court to purchase his own freedom from his owner, who lived locally, with the money he earned on a harpoon crew.

    This watershed moment saw the court make a precedent that was probably illegal at the time, but which supported and defended both the whaling industry as well as the aspirations of the people needed to make it thrive. Prince Boston’s free-born nephew, Absolom Boston, become the first Black whaling captain in 1822 – one of approximately 50 Black and Native captains in the American whaling industry throughout its history.

    Financing the fight against slavery

    The economic power generated by whaling helped fund the abolitionist movement in tangible ways.

    Wealthy Quaker merchants in whaling towns, like Martha’s Vineyard, were some of the earliest and most fervent supporters of abolition.

    Elihu Coleman, a Nantucket Quaker, wrote one of the first antislavery pamphlets in America in 1733. Douglass, the famed abolitionist and formerly enslaved man from Maryland, found refuge in New Bedford, a whaling town with a strong antislavery tradition.

    Whaling profits financed the construction of meeting houses and schools for free Black communities in these towns. The African Baptist Society in Nantucket, for example, was built by Black whalers who had achieved financial independence through their trade.

    Whalers cut pieces from a small whale on Long Island, N.Y., in 1900.
    Bettmann/Contributor/Getty Images

    Whaling’s vital role in ending slavery

    As an industry, whaling provided a meritocratic career path before fossil fuel mechanization made slavery obsolete. While industrialization eventually made enslaved labor less profitable by the mid- and late-1800s, whaling had already eroded slavery’s economic and social foundations decades earlier.

    Of course, whaling itself was not a morally pure endeavor. It was dangerous and devastating to whale populations. The American whaling industry killed perhaps 32,000 whales over the 74 years between 1835 and 1909. The global harvest of whales was many times greater. The U.S. officially outlawed whaling in 1971.

    Yet, whaling’s role in funding abolition and providing economic opportunities for free Black Americans is undeniable. It was, in many ways, a bridge between the world of forced labor and the energy-driven economy of the modern age.

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

    – ref. Abolition wasn’t fueled by just moral or economic concerns – the booming whaling industry also helped sink slavery – https://theconversation.com/abolition-wasnt-fueled-by-just-moral-or-economic-concerns-the-booming-whaling-industry-also-helped-sink-slavery-250980

    MIL OSI – Global Reports –

  • MIL-OSI Global: Florida is home to about 341,000 immigrants from Venezuela and Haiti who may soon lose residency, work permits

    Source: The Conversation – USA – By Mercedes Vigon, Associate professor of Journalism, Florida International University

    An activist protests the lifting of TPS status for Venezuelans in Doral, Fla. AP Photo/Rebecca Blackwell

    Florida leads the nation in the number of immigrants with Temporary Protected Status, or TPS.

    Soon after taking office, the Trump administration moved to scale back protections for the largest groups of these immigrants – those from Haiti and Venezuela.

    TPS applies to immigrants from designated countries that the Department of Homeland Security considers dangerous due to armed conflicts, environmental disasters, epidemics or other conditions. There are currently 17 countries on the list. The most recent country added was Lebanon on Oct. 16, 2024.

    According to a federal report published in December 2024, nearly a third of the roughly 1.1 million TPS recipients live in Florida. Of those, 59% are Venezuelan and 35% are Haitian, with the other 6% coming from other TPS nations.

    I’m a professor of investigative journalism at Florida International University in Miami. For the past 24 years, I’ve worked with students to report how various waves of immigrants have integrated into Florida, and also on the impact of historical immigration crackdowns on the state’s workforce.

    Because so many TPS recipients live here, ending TPS may affect Florida more than any other state – but it is still hard to say if and when that will happen.

    Uncertain TPS expiration dates

    Temporary Protected Status allows beneficiaries to stay and work in the U.S. for a designated period, typically ranging from six to 18 months. This time period can be extended if conditions in the affected country remain unstable. It does not provide a permanent legal pathway to stay in the United States.

    President Joe Biden’s administration created two TPS designations for Venezuelans – one in 2021 and a second in 2023.

    In early February 2025, Trump’s Homeland Security director, Kristi Noem, rolled back extensions of TPS for Venezuelans that the outgoing Biden administration had issued on Jan. 17, 2025. Then, two days later, she issued a termination notice that canceled TPS for 2023 Venezuelan recipients altogether.

    Noem’s orders meant that almost 250,000 Venezuelans covered by the 2023 designation were expected to lose their residence and work permits on April 7, 2025. Another 256,000 Venezuelans who requested their TPS under the earlier designation were expected to lose their protections on Sept. 10, 2025.

    But Venezuelans got some breathing room on March 31, when U.S. District Judge Edward Chen blocked the change in their immigration status, writing that Noem’s decision “smacks of racism.” As a result, they will keep their TPS protections while the case moves through the courts.

    Noem has said that having Venezuelans in the country “is contrary to the national interest” and accused them without proof of gang affiliations.

    The judge’s ruling doesn’t affect the more than 520,000 Haitian immigrants nationwide expected to lose their TPS protection on Aug. 3, 2025.

    The expiration of TPS potentially affects 341,000 immigrants in Florida. But it doesn’t mean all of these people will leave the country. TPS rules allow immigrants to apply for a change of immigration status, and some will apply for asylum or student visas. Others will go underground.

    Local economic effects

    These policies won’t just affect Venezuelan and Haitian TPS holders personally. It will likely cause some big waves in the Florida economy.

    The non-profit American Immigration Council, an immigrant advocacy group, estimates that 95% of TPS holders in Florida age 16 and older are currently employed.

    They paid approximately US$485.9 million in local and Florida state taxes, according to the same report.

    Although the public often associates immigrants with work in the construction, agricultural and meatpacking industries, most are employed in education and health care.

    Fewer home health aides

    Immigrants account for 64% of all home health aides in Florida, according to the American Immigration Council.

    Nationwide, 1 in 4 direct care workers are immigrants, according to a policy brief from PHI, an advocacy group for elder care and disability service workers.

    Not all of these workers are TPS holders, but an estimated 7% of foreign-born caregivers are from Haiti. Additionally, the research from PHI suggests that the actual percentage of home health aides who are immigrants is likely higher, as many immigrant workers in this sector operate in the “gray market.” These workers receive direct payment from the people they work for, which makes their employment hard to track.

    PHI projects that the long-term care sector in the U.S. will need to fill 9.3 million new direct care job openings by 2031 due to the country’s aging population.

    School staff a concern

    The public school system is another area where the sudden loss of TPS recipients will likely be deeply felt.

    Miami-Dade County Public Schools, the third-largest school district in the country, is experiencing an ongoing shortage of teachers and staff. The district had nearly 700 education and support positions unfilled in August 2024, according to a district-by-district count done by the Florida Education Association.

    “It is not only teachers,” an administrator told me in March 2025, explaining that the vacancies are also among registrars, custodians, paraprofessionals and other roles. These “high stakes” education jobs, as he described them to me, are difficult for Miami-Dade County schools to fill.

    The Miami-Dade school district doesn’t report on the nationality of its employees – or their immigration status. But unfilled positions in the school district dropped after an influx of Venezuelans and Haitians in 2019, the administrator told me.

    Losing these workers would likely mean South Florida’s persistent education and home health care labor shortages would worsen – making it increasingly difficult for families with school-age children, the elderly and individuals with special needs to access affordable essential services.

    Mercedes Vigon does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Florida is home to about 341,000 immigrants from Venezuela and Haiti who may soon lose residency, work permits – https://theconversation.com/florida-is-home-to-about-341-000-immigrants-from-venezuela-and-haiti-who-may-soon-lose-residency-work-permits-251791

    MIL OSI – Global Reports –

  • MIL-OSI Global: The Trump administration says Tren de Aragua is a terrorist group – but it’s really a transnational criminal organization. Here’s why the label matters.

    Source: The Conversation – USA – By Ernesto Castañeda, Professor, and Director, Center for Latin American and Latino Studies, American University

    Venezuelan immigrants, whom the Trump White House says are members of the Tren de Aragua gang, arrive in El Salvador on March 31, 2025. El Salvador Press Presidency Office/Anadolu via Getty Images

    The U.S. State Department declared on Feb. 20, 2025, that the Venezuelan gang Tren de Aragua, as well as some Mexican drug cartels, are now considered foreign terrorist organizations.

    Is the new label warranted?

    Tren de Aragua is at the center of a controversial immigration case that the Supreme Court is going to consider.

    The Trump administration is using the 1798 Alien Enemies Act to justify deporting more than 100 of the 238 Venezuelan and Salvadoran male immigrants it sent to a prison in El Salvador on March 15. The administration says that these immigrants are members of gangs such as Tren de Aragua and are foreign enemies, so they can be sent away with just an order from the White House.

    The administration uses a checklist of items, including physical markers like tattoos, to determine these individuals’ association with Tren de Aragua. Although in reality, the Tren de Aragua gang members do not use any specific tattoos.

    Family members and lawyers representing some of the Venezuelan immigrants say that they are not actually associated with the gang, and that some of them were living in the U.S. legally.

    I am an expert on immigration, and I think it is important to understand why classifying Tren de Aragua as a foreign terrorist organization has sparked debate among observers.

    One important reason is that Tren de Aragua is primarily a profit-driven group, not an ideological one – placing the organization more firmly in the transnational organized crime category rather than a political terrorist group.

    Venezuelan immigrants deported from the U.S. arrived in El Salvador in March 2025.
    El Salvador Press Presidency Office/Anadolu via Getty Images

    Understanding Tren de Aragua

    Tren de Aragua originated as a small prison gang in the early 2000s within Tocorón prison in Venezuela’s state of Aragua, located near the country’s capital, Caracas.

    Over the past 25 years, Tren de Aragua has expanded rapidly across South and Central America, and evolved into a transnational criminal organization under the leadership of Hector Guerrero Flores. Also known as Niño Guerrero, Flores is a 41-year-old Venezuelan who first served time in Tocorón prison in 2010 for killing a police officer before he escaped for the first time in 2012. His current location is not known.

    Flores is wanted by the U.S. and Colombia for various crimes related to expanding the group’s criminal network throughout South and Central America.

    Today, an estimated 5,000 people are affiliated with Tren de Aragua, which is mainly focused on human trafficking and other crimes targeting migrants. The gang has also been linked to other criminal organizations in Latin America and is involved with extortion, kidnapping, money laundering and drug smuggling. The number of active members in the United States is in the low hundreds, and clearly the great majority of Venezuelans here are not members.

    Homeland Security Secretary Kristi Noem arrives at the presidential palace in San Salvador, El Salvador, to discuss the deportation of Venezuelan immigrants to the country on March 26, 2025.
    Alex Brandon-Pool/Getty Images

    Different end goals

    Tren de Aragua has expanded in part because of its ability to exploit weak governance within the state of Aragua, and eventually across Venezuela, which faces political instability and a weak economy. An expansion beyond Venezuela has allowed the gang to connect with other transnational criminal networks.

    Most accepted definitions of terrorism say it is a kind of violence, usually used against civilians, motivated by political and ideological beliefs and goals. Tren de Aragua does not fit that definition. It does not have a political ideology and therefore is not an actual terrorist organization.

    The U.S. government considers a foreign terrorist organization a foreign group that engages in terrorist activity, or plans to do so, in a way that threatens the security of U.S. nationals or the country more broadly.

    Tren de Aragua is among the eight groups that the State Department first classified as foreign terrorist organizations in the first few months of 2025 after Donald Trump’s inauguration. The other new groups put on the list primarily include Latin American drug trafficking organizations, like the Mexican Sinaloa cartel.

    While transnational criminal organizations and foreign terrorist organizations both engage in violence and illicit activities, their end goals are different.

    Foreign terrorist organizations such as al-Qaida and the Islamic State group seek political, religious or ideological change – or all three – as they try to use violence to reshape the political landscape of their regions.

    Terrorist groups and transnational criminal organizations are not the same

    Tren de Aragua, as well as other transnational criminal groups like MS-13 – which originated in Los Angeles but now operates throughout the Americas – and the Sinaloa cartel, carry out illegal, violent activities across borders in order to make money.

    These groups do not have political or ideological motives beyond creating conditions to maximize their own profits. They do not aim to take political power in the U.S. or elsewhere, or try to remake society in their own image. That is beyond their purview and capabilities.

    Properly distinguishing between terrorist organizations and transnational criminal organizations is crucial for devising effective policies and responses to their violence. Mislabeling these groups can lead to inappropriate responses such as putting aside civil liberties, due process and human rights.

    Incorrectly classifying Tren de Aragua and other criminal groups as terrorist organizations could shift U.S. foreign policy and resources toward counterterrorism efforts and away from decreasing the power and violence exercised by organized crime and drug cartels in many parts of Latin America.

    However, the way in which many Venezuelans and other immigrants have been deported from the country over the past few months without passing through immigration court seems to indicate that the main rationale for the talk about alien enemies and these terrorist designations is to aid in the goal of mass deportations, rather than to fight domestic or international terrorism.

    If the U.S. truly wants to curb undocumented immigration and reduce drug and human trafficking, then I believe that it should ensure that its classification of these organizations is accurate and aligned with its actual objectives.

    Melissa Vasquez, a graduate student at American University studying international affairs and the Northern Triangle in Central America, contributed to this piece.

    Ernesto Castañeda does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. The Trump administration says Tren de Aragua is a terrorist group – but it’s really a transnational criminal organization. Here’s why the label matters. – https://theconversation.com/the-trump-administration-says-tren-de-aragua-is-a-terrorist-group-but-its-really-a-transnational-criminal-organization-heres-why-the-label-matters-252793

    MIL OSI – Global Reports –

  • MIL-OSI Global: Peers elevated to the House of Lords after a career in the House of Commons are often merely being rewarded for loyalty – new study

    Source: The Conversation – UK – By Stephen Holden Bates, Senior Lecturer in Political Science, University of Birmingham

    CC BY-NC-ND

    House of Lords reform is being debated once again with the passage of the bill to end hereditary peerages. But far more wide-reaching reform is needed. Our research reveals potential flaws in the appointments system. Far from being a representative chamber filled with those from all walks of life, we found evidence to suggest that the House of Lords contains a large constituency of former MPs – who are often there as a reward for their partisan loyalty.

    Since the introduction of life peers in 1958 and especially since the removal of all except 92 hereditary peers in 1999, former MPs have become an increasingly important constituency in the House of Lords. They make up about a third of the approximate 1,600 life peers who have been created since 1958. The others have largely been appointed because of their specialist skills or life experiences or, apparently, because of how much money they donated to political parties.

    The Lords is getting more and more crowded.
    House of Lords/Flickr, CC BY-NC-ND

    At present, around a fifth of all peers and coming up to a quarter of life peers sat at one time or another in the House of Commons. And nearly a fifth of all MPs who sat in and subsequently left the Commons between 1979 and 2019 went on to become a peer at some point afterwards.

    These ex-MPs became peers having been nominated in a dissolution honours list prior to a general election, a resignation honours list when a prime minister departed from office, or a political list, which is used to top up the strengths of the three main parties in the chamber. A handful have been appointed as a government minister and therefore needed a seat in parliament.

    Becoming a peer is an attractive option for many ex-MPs. Not only do they become part of the titled nobility, but they also have membership of the House of Lords for life, access to a generous allowances system, and the ability to maintain (and expand) outside interests.

    Our research shows that MPs who become peers are whiter and older than those MPs who don’t make it to the upper chamber. They are more likely to be heterosexual and a member of the aristocracy. They are also more likely to be the child or grandchild of a former MP and to have been educated at a public school, attended university – in particular, Oxford or Cambridge – and have studied PPE (philosophy, politics and economics) at Oxford. They are less likely to have a PhD but also less likely to have had a manual occupation as their first career.

    We also found that serving on the front bench as an MP and resisting the temptation to rebel against your party makes you more likely to be elevated to the House of Lords after serving in the House of Commons.

    For elevated MPs who had served on the frontbench in the House of Commons, their length of frontbench tenure and whether or not they became a minister were the most important indicators of them later becoming a peer. But time served is not necessarily an indicator of excellence. As former MP Rory Stewart has argued, promotion to the frontbench “has nothing to do with expertise. It’s about loyalty and defending the indefensible”. To the extent that experience matters then, it can be said to be more in the sense of direct personal participation rather than accumulated knowledge.

    Want more politics coverage from academic experts? Every week, we bring you informed analysis of developments in government and fact check the claims being made.

    Sign up for our weekly politics newsletter, delivered every Friday.

    For those MPs who had remained backbenchers throughout their time in the Commons, their loyalty was the strongest indicator of their chances of becoming a peer. There is also some evidence, albeit weak, that familial links for backbenchers and aristocratic links for frontbenchers increase the likelihood of receiving a peerage. There are different pathways from the House of Commons into the House of Lords and some MPs appear to find it easier than others to travel along them.

    Our results suggest that for ex-MPs, almost certainly the largest sub-group in the House of Lords, elevation to the peerage is not based on merit alone. Loyalty and, to a lesser extent, nepotism also appear to matter and help to win you a ticket to the Lords.

    Fresh impetus for reform

    Overall, we believe our findings call into question the continued use of appointments to the Lords that are wholly based on the patronage of party leaders.

    The work of parliament is not enhanced by elevating ex-MPs who are in the upper chamber for reasons other than merit or expertise. Neither is it enhanced in the lower chamber through dangling the possibility of elevation to the peerage to encourage loyalty. Both of these sub-optimal situations are only made possible by the House of Lords’ size, which allows for a substantial number of MPs to be elevated in the first place, and it being entirely appointed.

    Every upper chamber in the world except the House of Lords is smaller than the lower chamber of its parliament. And a sizable majority of these upper chambers use elections, either direct or indirect, as the principal mode of designation of members.

    If we truly want to enhance the work of parliament, perhaps it is finally time for the UK to iron out some of its idiosyncratic constitutional kinks and fit in more with the crowd.

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

    – ref. Peers elevated to the House of Lords after a career in the House of Commons are often merely being rewarded for loyalty – new study – https://theconversation.com/peers-elevated-to-the-house-of-lords-after-a-career-in-the-house-of-commons-are-often-merely-being-rewarded-for-loyalty-new-study-251968

    MIL OSI – Global Reports –

  • MIL-OSI Global: US and Russia squabble over Arctic security as melting ice opens up shipping routes

    Source: The Conversation – UK – By Stefan Wolff, Professor of International Security, University of Birmingham

    “You cannot annex another country.” This was the clear message given by the Danish prime minister, Mette Frederiksen, at a recent press conference with the outgoing and incoming prime ministers of Greenland. It did not appear aimed at Russian president Vladimir Putin, but at Donald Trump, the president of one of her country’s closest allies, who has threatened to take over Greenland.

    Frederiksen, speaking in Greenland’s capitak Nuuk, was stating something that is obvious under international law but can no longer be taken for granted. US foreign policy under Trump has become a major driver of this uncertainty, playing into the hands of Russian, and potentially Chinese, territorial ambitions.

    The incoming Greenlandic prime minister, Jens-Frederik Nielsen, made it clear that it was for Greenlanders to determine their future, not the United States. Greenland, which is controlled by Denmark, makes its own domestic policy decisions. Polls suggest a majority of islanders want independence from Denmark in the future, but don’t want to be part of the US.

    Trump’s interest in Greenland is often associated with the island’s vast, but largely untapped, mineral resources. But its strategic location is arguably an even greater asset. Shipping routes through the Arctic have become more dependable and for longer periods of time during the year as a result of melting sea ice. The northwest passage (along the US and Canadian shorelines) and the northeast passage (along Russia’s Arctic coast) are often ice free now during the summer.


    Breaking the Ice: Arctic Development and Maritime Transportation, ArcticPortal.org

    This has increased opportunities for commercial shipping. For example, the distance for a container ship from Asia to Europe through the northeast passage can be up to three times shorter, compared to traditional routes through the Suez Canal or around Africa.

    Similarly, the northwest passage offers the shortest route between the east coast of the United States and Alaska. Add to that the likely substantial resources that the Arctic has, from oil and gas to minerals, and the entire region is beginning to look like a giant real estate deal in the making.

    Arctic assets

    The economic promise of the Arctic, and particularly the region’s greater accessibility, have also heightened military and security sensitivities.

    The day before J.D. Vance’s visit to Greenland on March 28, Vladimir Putin, gave a speech at the sixth international Arctic forum in Murmansk in Russia’s high north, warning of increased geopolitical rivalry.

    While he claimed that “Russia has never threatened anyone in the Arctic”, he was also quick to emphasise that Moscow was “enhancing the combat capabilities of the Armed Forces, and modernising military infrastructure facilities” in the Arctic.

    Equally worrying, Russia has increased its naval cooperation with China and given Beijing access, and a stake, in the Arctic. In April 2024, the two countries’ navies signed a cooperation agreement on search and rescue missions on the high seas.


    National Snow & Ice Data Center, Arctic Portal

    In September 2024, China participated in Russia’s largest naval manoeuvres in the post-cold war era, Ocean-2024, which were conducted in north Pacific and Arctic waters. The following month, Russian and Chinese coastguard vessels conducted their first joint patrol in the Arctic. Vance, therefore, has a point when he urges Greenland and Denmark to cut a deal with the US because the “island isn’t safe”.

    That the Russia-China partnership has resulted in an increasingly military presence in the Arctic has not gone unnoticed in the west. Worried about the security of its Arctic territories, Canada has just announced a C$6 billion (£3.2 billion) upgrade to facilities in the North American Aerospace Defense Command it operates jointly with the United States.

    It will also acquire more submarines, icebreakers and fighter jets to bolster its Arctic defences and invest a further C$420 million (£228 million) into a greater presence of its armed forces.



    Read more:
    Arctic breakdown: what climate change in the far north means for the rest of us

    Svalbard’s future role?

    Norway has similarly boosted its defence presence in the Arctic, especially in relation to the Svalbard archipelago (strategically located between the Norwegian mainland and the Arctic Circle). This has prompted an angry response from Russia, wrongly claiming that Oslo was in violation of the 1920 Svalbard Treaty which awarded the archipelago to Norway with the proviso that it must not become host to Norwegian military bases.

    Under the treaty, Russia has a right to a civilian presence there. The “commission on ensuring Russia’s presence on the archipelago Spitzbergen”, the name Moscow uses for Svalbard is chaired by Russian deputy prime minister Yury Trutnev, who is also Putin’s envoy to the far eastern federal district. Trutnev has repeatedly complained about undue Norwegian restrictions on Russia’s presence in Svalbard.

    From the Kremlin’s perspective, this is less about Russia’s historical rights on Svalbard and more about Norway’s – and Nato’s – presence in a strategic location at the nexus of the Greenland, Barents and Norwegian seas. From there, maritime traffic along Russia’s northeast passage can be monitored. If, and when, a central Arctic shipping route becomes viable, which would pass between Greenland and Svalbard, the strategic importance of the archipelago would increase further.

    From Washington’s perspective, Greenland is more important because of its closer proximity to the US. But Svalbard is critical to Nato for monitoring and countering Russian, and potentially Chinese, naval activities. This bigger picture tends to get lost in Trump’s White House, which is more concerned with its own immediate neighbourhood and cares less about regional security leadership.

    Consequently, there has been no suggestion – so far – that the US needs to have Svalbard in the same way that Trump claims he needs Greenland to ensure US security. Nor has Russia issued any specific threats to Svalbard. But it was noticeable that Putin in his speech at the Arctic forum discussed historical territorial issues, including an obscure 1910 proposal for a land swap between the US, Denmark and Germany involving Greenland.

    Putin also noted “that Nato countries are increasingly often designating the Far North as a springboard for possible conflicts”. It is not difficult to see Moscow’s logic: if the US can claim Greenland for security reasons, Russia should do the same with Svalbard.

    The conclusion to draw from this is not that Trump should aim to annex a sovereign Norwegian island next. Maritime geography in the north Atlantic underscores the importance of maintaining and strengthening long-established alliances.

    Investing in expanded security cooperation with Denmark and Norway as part of Nato would secure US interests closer to home and send a strong message to Russia. It would also signal to the wider world that the US is not about to initiate a territorial reordering of global politics to suit exclusively the interests of Moscow, Beijing and Washington.

    Stefan Wolff is a past recipient of grant funding from the Natural Environment Research Council of the UK, the United States Institute of Peace, the Economic and Social Research Council of the UK, the British Academy, the NATO Science for Peace Programme, the EU Framework Programmes 6 and 7 and Horizon 2020, as well as the EU’s Jean Monnet Programme. He is a Trustee and Honorary Treasurer of the Political Studies Association of the UK and a Senior Research Fellow at the Foreign Policy Centre in London.

    – ref. US and Russia squabble over Arctic security as melting ice opens up shipping routes – https://theconversation.com/us-and-russia-squabble-over-arctic-security-as-melting-ice-opens-up-shipping-routes-253493

    MIL OSI – Global Reports –

  • MIL-OSI Security: St. John’s — RCMP NL warns of phishing scam on Facebook Marketplace

    Source: Royal Canadian Mounted Police

    RCMP NL is warning residents of a type of scam currently in circulation where scammers are using Facebook Marketplace to target users selling items and sending them fake email money transfers (EMT).

    Recently, reports have been made about residents being defrauded through a phishing scam on Facebook. Here is how the scam is conducted:

    1. The scammer contacts the victim through Facebook Marketplace place, willing to buy items that they had for sale.
    2. The scammer informs the victim that they can send an EMT as payment to secure the product.
    3. The scammer sends a fake interact transfer email to the seller for the seller to click on to access the deposited funds by inputting their banking information.
    4. The scammer obtains the banking account number, password, and two-factor authentication as inputted by the victim.
    5. The scammer obtains access to the victim’s bank account and sends themselves an EMT.
    6. The victim receives an email confirmation, stating that the amount sent as a deposit will be placed in the victim’s bank account in a day or so.
    7. The victim receives notification from their bank (email/text message) that an interact transfer was made from their account to the scammer.
    8. The victim realizes that they have been scammed.

    Here are some red flags to watch out for:

    • The fake Interac transfer email comes from an email service provider, such as gmail.
    • The fake Interac transfer email link re-directs you to an internet page instead of your banking app.
    • The Facebook profile of the scammer is usually associated with a common local name and has very little information available on the page.
    • The Facebook profile was recently created. You can scroll through their timeline and look at the earliest posting date, if there is nothing on the timeline be suspicious.
    • The scammer controls the conversation and selects the method of payment.
    • The scammer will never want to meet in person and will always have an excuse.

    How can you protect yourself?

    • Do not accept EMT payment. The scammer will push for this option. Use the cash only option and never accept a cheque.
    • If you decide to accept EMT then be aware of the process. The buyer sends you money which should go directly to your bank. There should be no steps in between.
    • Never provide banking information (Interac already has access to this) nor provide any personal information.
    • Set up alerts with your bank to alert you that an EMT has been made using your account. Contact your bank immediately if you did not authorize the transfer. The bank may be able to retrieve the funds.
    • Check to see what email address the EMT is coming from. If it is coming from Interac, the email domain will be @payments.interac.ca
    • If you click on the link to deposit the funds, make sure it opens to your banking app or the official banking website. If possible, select the banking app option. The banking website may be fake but look real.
    • Register for autodeposit with your bank. This way, any legitimate funds will be automatically deposited into your account.

    Remember, if it seems too good to be true, it is. If you are unsure whether who you are speaking with on the phone, online, or even in person is legitimate or not, don’t be afraid to say no, leave the conversation, or get a second opinion.

    RCMP NL encourages the public to discuss financial and digital safety with elders and vulnerable adults in their family or community. For more information on phishing, visit the Canadian Anti-Fraud Centre at https://antifraudcentre-centreantifraude.ca/scams-fraudes/phishing-hameconnage-eng.htm

    MIL Security OSI –