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Category: Economy

  • MIL-OSI Canada: Camping reservations will open for entire Berg Lake Trail in Mount Robson Park

    Source: Government of Canada regional news

    Camping reservations will soon open for the entire Berg Lake Trail in Mount Robson Park, marking the return of hikers this summer to one of B.C.’s most popular backcountry hiking destinations.

    Beginning at 7 a.m. on Wednesday, April 2, 2025, people can reserve tent pads at any of the seven backcountry campgrounds along the Berg Lake Trail for arrivals starting June 26, 2025, the same day the entire trail is scheduled to reopen. Reservations will open for the entire season and are required to stay at campgrounds along the trail until Sept. 29, 2025.

    “Mount Robson Park is a special place, drawing thousands of people from across Canada and the world to experience the natural beauty,” said Tamara Davidson, Minister of Environment and Parks. “Having undergone repairs to help withstand the impacts of climate change, we’re thrilled to welcome families and friends back to the entire Berg Lake Trail.”

    Located between Valemount and Jasper, the 23-kilometre Berg Lake Trail features views of waterfalls, turquoise-coloured lakes and massive glaciers. In June 2021, the trail was closed due to extensive flooding caused by heavy rain following the heat dome. The flooding washed away parts of the trail and caused significant damage to infrastructure, such as bridges, picnic tables and tent pads.

    “Hiking the Berg Lake Trail is an unforgettable experience, with nearly 20,000 backcountry hikers and campers coming to this special part of B.C. every year,” said Spencer Chandra Herbert, Minister of Tourism, Arts, Culture and Sport. “Having the entire trail open again is important for local businesses, communities and visitors, and I encourage everyone to get out this summer and explore beautiful B.C.”

    The trail has been rebuilt in three phases. Phase 1 focused on various upgrades from the parking lot to Kinney Lake campground and reopened in 2023 for day use and overnight camping. Phase 2, from Kinney Lake to Whitehorn campground, reopened in 2024 and included a new trail route and new bridges at the far end of Kinney Lake and over the Robson River.

    Phase 3, from Whitehorn campground to Berg Lake, included various campground upgrades, along with a significant amount of trail rebuilding and realignment to reduce the amount of time the trail is in the flood plain or crosses the river. The total cost of restoring the trail is estimated at $5 million.

    “The Village of Valemount is thrilled to be part of the wonderful news that nature enthusiasts and hikers alike have been eagerly awaiting,” said Owen Torgerson, mayor of Valemount. “The Berg Lake Trail and Mount Robson Park is important for tourism, contributing about 25% to our local economy every year. I encourage everyone to plan a trip to experience the beauty of Berg Lake, and I appreciate the extensive work that has gone into restoring this beloved trail.”

    The Berg Lake Trail is open for winter recreation. From May 15 until June 25, the trail will be open for first-come, first-served camping at Kinney Lake and Whitehorn campgrounds. Permits for campsites can be purchased at the Mount Robson Welcome Centre before heading up the trail.

    “The Berg Lake Trail offers outdoor enthusiasts an unparalleled hiking and camping experience, while also boosting visitation and driving tourism revenue to the Robson Valley and our welcoming community,” said Eugene Runtz, mayor of McBride. “Reopening this iconic trail strengthens McBride’s position as a premier destination for nature lovers and adventure seekers, showcasing the breathtaking beauty of the Canadian Rockies and inviting travellers to explore all that the Robson Valley has to offer.”

    Ellen Walker-Matthews, chief executive officer for the Thompson Okanagan Tourism Association, said: “We are thrilled that the Berg Lake Trail, one of the iconic experiences in the Thompson Okanagan region, is reopening. The Berg Lake Trail not only draws visitors to its unique experience but helps to attract and welcome Canadian and international visitors to the spectacular North Thompson Valley and surrounding communities.”

    People are encouraged to check the park webpage for updates about the final phase of construction: https://bcparks.ca/mount-robson-park/

    Quick Facts:

    • The Berg Lake Trail gains 800 metres of elevation in 23 kilometres.
    • On average, the trail has nearly 20,000 backcountry hikers and campers each year.
    • Mount Robson is the highest peak in the Canadian Rockies at 3,954 metres.
    • Mount Robson Park is the second-oldest provincial park in B.C. and was established in 1913 to protect the Fraser River’s headwaters.

    Learn More:

    Reservations can be made here: https://camping.bcparks.ca/ 

    More information about backcountry camping and policies can be found here: https://bcparks.ca/reservations/backcountry-camping/reservations/

    For more information about Mount Robson Park and the Berg Lake Trail, visit: https://bcparks.ca/mount-robson-park/

    MIL OSI Canada News –

    March 27, 2025

  • MIL-OSI United Nations: ‘Renewables are renewing economies’, UN chief tells top climate forum

    Source: United Nations MIL OSI b

    26 March 2025 Climate and Environment

    Ministers from 40 countries met on Wednesday at the first major climate forum of 2025 to discuss progress in renewable energy generation and the rising toll of inaction over rising temperatures. 

    2025 marks a milestone: the tenth anniversary of the Paris Agreement and the deadline for countries to submit their updated Nationally Determined Contributions (NDCs), designed to keep the global goal alive of limiting temperature rise to 1.5°C above pre-industrial levels.

    Addressing the 16th Petersberg Climate Dialogue (PCD) in Berlin – the first official gathering on climate since last year’s COP29 summit in Baku – the UN Secretary-General António Guterres issued a strong call for decisive climate action.

    He said the year had begun against a backdrop of geopolitical instability and widespread cuts to overseas aid budgets.

    “There is much uncertainty and instability in our world,” which is why “every country must step up and play their part,” he emphasised.

    Renewables: A bright spot

    Despite global tensions, Mr. Guterres pointed to a promising development: 2024 was officially a record year for global renewable energy production, according to the International Renewable Energy Agency (IRENA).

    Renewables made up over 92 per cent of all new electricity capacity installed last year – equivalent to the total electricity capacity of Brazil and Japan combined.

    Europe’s capacity rose by nine per cent, with Germany contributing over a quarter of that growth. Meanwhile, Africa’s grew by nearly seven per cent.

    “All of this is another reminder of a 21st century truth: Renewables are renewing economies,” Mr. Guterres said. They are “powering growth, creating jobs, lowering energy bills, and cleaning our air.”

    Wind power has dropped in cost by 60 per cent since 2010; solar is now 90 per cent cheaper.

    Clean energy contributed significantly to economic growth in 2023 – accounting for five per cent of India’s GDP growth, six per cent of the US’, and one-third of the EU’s.

    The rising toll of inaction

    Nevertheless, climate challenges are piling up, the UN chief continued.

    “It seems records are shattered at every turn – the hottest day of the hottest month of the hottest year of the hottest decade ever,” Mr. Guterres said.

    Those suffering most are the world’s most vulnerable – grappling with rising food and insurance costs, displacement and growing insecurity.

    The World Meteorological Organization confirmed in late December that 2024 was another year of alarming climate records. For the first time, global temperatures were 1.5°C above pre-industrial levels during a calendar year.

    “Scientists are clear – it is still possible to meet the long-term 1.5 degree limit,” the Secretary-General stressed. “But it requires urgent action. And it requires leadership.”

    Call for ambition

    New NDCs are due by September 2025. These plans must align with the 1.5°C target and collectively cut emissions by 60 per cent by 2035, compared with 2019 levels.

    “These new plans are a unique opportunity to deliver – and lay out a coherent vision for a just green transition,” Mr. Guterres said.

    He reiterated that efforts must be made according to the principle of common but differentiated responsibilities but added: “Everybody must do more.”

    The G20 most industralised nations – responsible for most global emissions – must lead the way.

    The UN Climate Promise is already supporting 100 countries in preparing their next plans. A high-level event in September will take stock of progress and push for greater action.

    Financing action

    Implementation of the COP29 finance agreement is crucial to support developing countries.

    “I count on the leadership of the COP29 and COP30 Presidencies to deliver a credible roadmap to mobilise $1.3 trillion a year by 2035,” said the Secretary-General.

    He also called for doubling adaptation finance to at least $40 billion annually by the end of this year and for serious contributions to the Loss and Damage Fund.

    To get there, stronger collaboration – across governments, societies, and sectors – is vital.

    Looking ahead

    As the Petersberg Dialogue sets the tone for the year ahead, Mr. Guterres issued a final rallying cry:

    “Those who lag behind must not discourage us but rather strengthen our resolve. The rewards are there for the taking, for all those ready and willing to lead the world through these troubled times.”

    “We are at a turning point.  I urge you to seize this moment; and seize the prize,” he concluded. 

    Soundcloud

    MIL OSI United Nations News –

    March 27, 2025

  • MIL-OSI Australia: Significant milestone for Sustainable Household Scheme

    Source: Northern Territory Police and Fire Services

    Many Canberrans have accessed the Sustainable Household Scheme to add solar panels to their homes.

    The Sustainable Household Scheme has had another big year supporting Canberrans.

    Over 20,000 Canberra households have now applied to participate in the Scheme to make their homes more energy efficient.

    The Sustainable Household Scheme has approved $200 million in loans and supported the installation of almost 17,000 sustainable upgrades since it commenced in July 2021.

    This has saved households money on their energy bills and reduced the ACT’s carbon footprint.

    Through the Scheme, Canberrans have access to zero-interest loans and rebates for a range of energy-saving upgrades.

    These include efficient heating and cooling, cooktop and hot water systems, solar panels, battery storage, electric vehicles and ceiling insulation.

    The Sustainable Household Scheme forms a key part of the ACT Government’s strategy for achieving net zero emissions by 2045.

    To celebrate this milestone and showcase the Canberrans’ efforts, the ACT Government has launched a new Sustainable Household Scheme Dashboard.

    This interactive tool allows users to explore the impact of the Scheme across the ACT, including:

    • Which suburbs are leading the charge in sustainability
    • What’s the most popular upgrade in your neighbourhood
    • The number and types of upgrades being installed.

    This new dashboard will help us track Canberra’s progress in transitioning to a cleaner future, and share community success stories.

    Suburb spotlight

    The dashboard also includes a spotlight on which Canberra suburbs have accessed finance across each category as of 13 December 2023.

    • Highest overall uptake

    Kambah – $9,048,318 in zero-interest loans accessed.

    • Singing in the shower

    Dickson – 13 per cent of installs in Dickson are hot water heat pumps.

    • Driving into the future

    Campbell – 34 per cent of products in Campbell are electric vehicles.

    • Staying warm and keeping cool

    Kingston – 39 per cent of installs in Kingston are reverse cycle air conditioners.

    • Comfort in the home

    Rivett – 4.6 per cent of installs in Rivett are for insulation.

    • Most solar uptake

    Whitlam – 98 per cent of installs in Whitlam include solar systems.

    More information about the Sustainable Household Scheme is available on the Climate Choices website.

    Get ACT news and events delivered straight to your inbox, sign up to our email newsletter:


    MIL OSI News –

    March 27, 2025

  • MIL-OSI USA: Attorney General Bonta Issues Open Letter Urging Legal Community to Stand Together in Defense of Rule of Law Amid President’s Attacks

    Source: US State of California

    “Lawyers are not spectators to the Constitution; we are its agents…Law firms must refuse to bow to illegal and unconstitutional threats of retribution for having the temerity to represent clients and cases opposing the administration.” 

    OAKLAND – California Attorney General Rob Bonta today, along with 20 other state attorneys general, issued an open letter urging the legal community to stand together in defense of the rule of law in response to President Trump’s recent attacks, including calling for the impeachment of federal judges and threatening retribution against law firms and attorneys who take or have taken positions in opposition to him or his Administration. Alarmingly, one major law firm – Paul, Weiss, Rifkind, Wharton & Garrison LLP (Paul Weiss) – has already acquiesced to President Trump’s demands for policy support in exchange for relief from the executive order targeting that law firm. The President’s recent orders and statements, and the failure of Paul Weiss to stand firm in response to these attacks, risks creating a chilling effect within the legal community. Today, Attorney General Bonta calls on all members of the legal profession and of state bars to stand with state attorneys general in refusing to bow to the President’s unlawful and undemocratic attacks on the practice of law and reaffirm their commitment to the zealous representation of their clients. 

    “The President seeks to bully and intimidate federal judges, attorneys, and law firms that disagree with him or take positions he does not like – undermining the American legal system built atop the U.S. Constitution he two months ago swore to uphold,” said Attorney General Bonta. “I stand with state attorneys general across the nation in condemning the President’s recent actions and in urging members of the legal profession to stand firm in their principles. We must not falter in our resolve to uphold the U.S. Constitution and the rule of law. Our democracy depends on it.”

    On Sunday, Attorney General Bonta issued a separate statement on the need to speak up and push back when our democratic norms are violated, our legal system undermined, and our laws broken. In today’s letter, Attorney General Bonta and a multistate coalition reiterate their commitment to the rule of law and stand firm in their support of the federal judiciary and judicial independence: 

    “As state attorneys general, we have sworn oaths to uphold the Constitution of the United States. Rule of law is the bedrock of everything that makes our country great. Our economy, our rights and freedoms as citizens and residents, our lives and livelihoods are all protected by the fair and unbiased application of the law. We will not allow anyone, including the President, to bully law firms out of representing clients who may be politically disfavored, or clients out of being represented by counsel of their choosing. We will not sit by silently in the face of attempts to attack and intimidate the federal judiciary. We will not allow the rule of law to be undermined. We stand with all our colleagues in the legal community who place the ideals and values of their profession over obedience and silence.”

    Attorney General Bonta joins the attorneys general of Delaware, Illinois, Arizona, Colorado, Connecticut, District of Columbia, Hawaii, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont, and Washington in issuing the letter. 

    A copy of the letter is available here. 

    MIL OSI USA News –

    March 27, 2025

  • MIL-OSI: QUADIENT SA: Appointment and renewals to Quadient’s Board of directors to be proposed to the Annual General Meeting on June 13, 2025

    Source: GlobeNewswire (MIL-OSI)

    Appointment and renewals to Quadient’s Board of directors to be proposed to the Annual General Meeting on June 13, 2025

    • Delphine Segura Vaylet to be proposed to the Annual General Meeting on June 13, 2025 for appointment as non-executive and independent director
    • Didier Lamouche and Nathalie Wright to be proposed for renewal to the Annual General Meeting on June 13, 2025
    • Martha Bejar and Paula Felstead will not stand for re-election, and resignation of Vincent Mercier with effect at the close of the Board meeting which will be held on 2 June 2025
    • Downsizing of the Board of directors from 10 to 8 members (excluding employee directors)​ as from the next Annual General Meeting, on June 13, 2025

    Paris, 26 March 2025

    Upon recommendation of the Appointments and Remuneration Committee, Quadient’s Board of directors (the “Board”) has approved the list of Directors for appointment and renewal to be put forward at the Company’s Annual General Meeting  that will be held on June 13, 2025.

    At the next Annual General Meeting, shareholders will be asked to approve the appointment of Delphine Segura Vaylet as a new independent Director for a three-year term, until the Annual General Meeting approving the financial statements for the fiscal year ending January 31, 2028.

    Shareholders will also be asked to approve the renewal for additional three-year terms of:

    • Didier Lamouche, with the Board’s intention, if renewed, to subsequently reappoint him as Chairman of the Board, and
    • Nathalie Wright, with the Board’s intention, if renewed, to subsequently appoint her as Chair of the Appointments and Remuneration Committee, replacing Martha Bejar.

    Additionally, it is noted that Martha Bejar and Paula Felstead will not stand for re-election, and that Vincent Mercier will step down from the Board with effect at the close of the meeting to be held on 2 June 2025.

    The Board wishes to express its sincere gratitude for their dedication and significant contributions to the Company — Paula for her thoughtful oversight as a member of the Audit Committee, Martha for her leadership and governance as Chair of the Appointment and Remuneration Committee, and Vincent for his 16 years of committed service across various strategic and leadership roles. Their expertise, integrity, and steadfast support have been instrumental in guiding the Company through key phases of growth and transformation.

    Following these changes, subject to shareholders approval of the resolutions, the Board, which consists of 10 members (excluding employee directors) until June 2, 2025, will be reduced to 8 members (excluding employee directors) after the June 13, 2025 Annual General Meeting. The Board’s composition will continue to align with best governance practices, keeping a highly independent representation, with 75% independent directors, and complying with French legal parity rules, with a balanced structure of 5 men and 3 women, while ensuring a well-balanced mix of experience.

    Delphine Segura Vaylet is 54 years old and a French citizen. She holds a Master’s degree (DEA) in Social Law, European  Law from the University of Paris I Panthéon-Sorbonne. Delphine Segura Vaylet began her career at Groupe Bayard Press from 1993 to 1994 before joining Thales in 1994, where she held various operational Human Resources (HR) leadership roles until 2006. In 2007, she joined STMicroelectronics as HR Director for the Digital Consumer division. In parallel, she led Talent and Organizational Development as well as Training at the Group level for four years. In 2014, she became Group HR Director of Zodiac Aerospace, serving as a member of the Executive Committee until the company’s acquisition by Safran. She then joined Total in 2017 as Vice-President Strategy and HR Policy. Since January 2021, Delphine Segura Vaylet held the position of  Senior Executive Vice President Human Resources at Groupe SEB. She also holds non-executive roles at Soitec and Artelia.

    Didier Lamouche has been the Chairman of the Board of Quadient S.A. since June 28, 2019. He holds a PhD in Semiconductor Technology from École Centrale de Lyon. Didier Lamouche has had a distinguished career, including serving as President and CEO of Idemia until 2018, the world leader in cyber security and digital identity technologies, which he had headed since 2013. From 2005 to 2013, he also held key leadership roles at ST-Microelectronics, ST-Ericsson, and Bull Group, where he successfully turned the company around and repositioned on growth segments. Earlier in his career, Didier Lamouche worked at Philips, IBM Microelectronics, Motorola Semiconductor, and Altis Semiconductor. Didier Lamouche has extensive experience in corporate governance, in both public and private environments, having served as a director of eight public and four private-equity backed companies for nearly 20 years.

    Nathalie Wright has been a member of the Board of Quadient S.A. since September 25, 2017. Nathalie Wright is a graduate in economics from Paris Assas University, IAE, and INSEAD. She began her career at Digital Equipment France and NewBridge Networks France, later holding roles at MCI, Easynet, and AT&T, where she oversaw commercial strategy for Southern Europe and the Middle East. In 2009, she joined Microsoft, serving as director of the Public Sector division and General Manager for Enterprise & Strategic Alliances. She became Vice President of Software France at IBM in 2017, then joined Rexel in 2018 as Chief Digital Officer and member of the executive committee until September 2023, overseeing digital transformation and ESG strategy. Since 2024, Nathalie Wright has focused on non-executive roles at Quadient, Keolis, and Amundi, supporting organizations with transformation challenges.

    ***

    CALENDAR

    • 26 March 2025: FY2024 results release (after close of trading on the Euronext Paris regulated market)
    • 3 June 2025: Q1 2025 sales release (after close of trading on the Euronext Paris regulated market)
    • 13 June 2025: Annual General Meeting

    ***

    About Quadient®

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

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

    Contacts

    Attachment

    • Quadient-press-release-Board-2025-vGB

    The MIL Network –

    March 27, 2025

  • MIL-OSI: The Last Dwarfs Launches Token Giveaway Worth 1 Million $TLD, Offering Users the Chance to Become Crypto Millionaires

    Source: GlobeNewswire (MIL-OSI)

    London, UK, March 26, 2025 (GLOBE NEWSWIRE) — The Last Dwarfs, an emerging project in the Web3 gaming space, has just launched one of the most ambitious initiatives of 2025: a 1 million $TLD token giveaway, designed to reward its early supporters. The announcement comes at a time of increasing interest in blockchain-based gaming and tokenized experiences. 

    While the spotlight often shines on meme coins and speculative assets, a new kind of project is emerging, one that blends tangible utility, accessibility, and gamified finance.

    What Is The Last Dwarfs? A Play-to-Invest Revolution

    The Last Dwarfs is a Web3 ecosystem that introduces a new paradigm in the crypto space: Play-to-Invest. Unlike Play-to-Earn models that dominated early blockchain gaming, TLD offers an approach where every in-game action helps build a real investment portfolio. Users don’t just earn tokens through repetitive mechanics, they can discover and access high-potential crypto projects early through a feature called the Gamified Launchpad.

    The project is integrated with the Telegram ecosystem and the TON blockchain, giving it direct access to an audience of over 900 million users. This infrastructural advantage allows for true scalability, something that most early-stage projects can only hope to achieve.

    Moreover, the platform is already live and operational, with more than 300,000 users onboarded before the token has even been listed, concrete proof of product demand, and already proving the strength of its innovative model.

    The 1M $TLD Giveaway – How It Works and What You Can Win

    The 1 million $TLD giveaway was created to incentivize active participation and reward those helping grow the community. The entire prize pool of 1M $TLD tokens will be distributed through a leaderboard-based referral contest.

    Here’s a breakdown of the current reward structure:

    • 1st place: 200,000 $TLD
    • 2nd place: 120,000 $TLD
    • 3rd place: 80,000 $TLD
    • 4th–10th place: 50,000 $TLD each
    • 11th–20th place: 25,000 $TLD each

    To join, users must complete a few simple actions: follow the project on Twitter, retweet the giveaway post, tag two friends in the comments, and sharing a referral link after connecting their wallet. The more people they invite, the higher their leaderboard position, and of course the bigger their prize.

    Final Thoughts – A Unique Opportunity to Join Early

    By launching this giveaway, The Last Dwarfs is adopting a community-first approach to user growth. The campaign is not only a reward mechanism but also an opportunity for participants to get involved with the project’s early development and ecosystem expansion.

    The team behind the project has emphasized that further updates and features will be rolled out in the coming months, with ongoing community involvement playing a key role in shaping the platform’s evolution.

    For More Information:
    Website: https://thelastdwarfs.com
    Giveway: https://whitepaper.thelastdwarfs.com/1m-usdtld-giveaway-win-your-share-now 
    Telegram: https://t.me/TheLastDwarfsCommunity 
    Twitter: https://x.com/TheLastDwarfs 

    Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

    The MIL Network –

    March 27, 2025

  • MIL-OSI Global: Spring statement: defence spending boosted as further disability benefit cuts announced – experts react

    Source: The Conversation – UK – By Shampa Roy-Mukherjee, Vice Dean and Professor in Economics, University of East London

    Not even six months on from Labour’s first budget, and the world is a much-changed place. Geopolitical tensions and uncertainties, already high last year, have risen further, and with them the cost of the UK’s debt, while economic growth has stalled. As such, Chancellor Rachel Reeves has confronted an array of unpalatable choices – notably cutting disability benefits – to enable her to increase defence spending and stabilise the public finances. Here’s what our panel of experts made of the statement:

    Falling inflation wasn’t enough to prevent further disability cuts

    Shampa Roy-Mukherjee, Vice Dean and Professor in Economics, University of East London

    The independent Office for Budget Responsibility (OBR) has halved the UK’s 2025 growth forecast to 1%, down from the previously projected 2%. This sluggish growth, coupled with increased borrowing costs, has effectively eliminated the government’s £9.9 billion “fiscal headroom” – its financial buffer – resulting in a £4.1 billion shortfall by 2029-30.

    There was some short-term relief in the latest inflation figures. These showed a slowdown in price rises in February (2.8% against 3% in January). The dip was caused by discounting of items like clothing. But given around half of businesses are considering price rises to combat tax hikes and the national living wage increase coming in April, this relief is likely to be short-lived. The OBR forecasts that inflation will climb back up to 3.2% this year.

    The government had previously set out its controversial plans for £5 billion in welfare cuts. But the OBR rejected the claim that the reforms would save that much, estimating the savings at £3.4 billion, leaving Reeves with a £1.6 billion shortfall. As such, she has had to announce additional welfare reforms.

    These include freezing the universal credit health element until 2030 and reducing it to £50 a week for new claimants. This is aimed at saving an additional £500 million by 2030 – and combined with other planned welfare reforms could affect more than 3 million people. But the standard allowance for universal credit will see an above-inflation increase from 2026-27 and the incomes of those with the most severe lifelong conditions will be protected.

    Civil service administrative budgets are also to be reduced – by 15% by 2029-30. This, along with other efficiency and productivity improvements, will lead to annual savings of £3.5 billion. These cuts will focus on areas like human resources, policy advice, and office management, rather than frontline services.

    Reeves resorted to tricks and ‘efficiency savings’

    Steve Schifferes, Honorary Research Fellow, City St George’s, University of London

    Reeves has announced a series of tweaks to her spending plans to address the economic situation which has meant that she is in danger of breaking her self-imposed fiscal rules. The chancellor was at pains to say that these rules are “non-negotiable”.

    But these are unlikely to tackle the deeper problem – that in the short term she cannot rely on economic growth to square the circle of Labour’s three contradictory election pledges. These were more spending on public services, lower taxes and strict fiscal rules.

    The UK, in fact, is particularly vulnerable to the disruption of global trade that is likely to result from US president Donald Trump’s tariff wars. And the productivity gains from her long-term infrastructure plans will take years – if not a decade – to translate into higher growth.

    Like many chancellors, Reeves has resorted to various tricks – such as counting money moved to the defence budget to build tanks and aircraft as capital spending (and therefore exempt from the borrowing rules). And she has called for “efficiency savings” in the civil service and government departments that are unlikely to be realised.

    But the biggest savings are coming from deeper than expected cuts in disability payments and other welfare payments, reducing the income of more than 3 million people. This is upsetting many Labour MPs. Her big sweetener – £2 billion for social housing next year – is actually less than that already allocated by the previous Conservative government.

    Crucially, the further savings likely to be demanded in the spending review (announced on June 11) from unprotected departments including local government, justice and environment, will certainly look a lot like a return to austerity.

    In the end – and possibly as soon as the autumn budget – the chancellor will have to accept that as well as spending cuts, she will have to consider tax increases and possibly even a revision of the fiscal rules.

    Otherwise, she will remain at the mercy of the markets and the forecasters. Any long-term strategy will be strangled by the need to continually adjust policy to meet the fiscal “headroom” target she has set which leaves little room for manoeuvre. This requires an implausibly accurate prediction of the state of the economy in five years’ time by the OBR.

    The Civil Service could see 10,000 jobs axed.
    pxl.store/Shutterstock

    Commitment to financial stability is actually increasing uncertainty

    Linda Yueh, Fellow and Adjunct Professor of Economics, University of Oxford

    The chancellor’s self-imposed fiscal rules are intended to provide stability – one of the foundations of economic growth. One of those rules, which Rachel Reeves has said she will not bend, is that government day-to-day spending must be balanced by tax receipts by the end of this parliament.

    This is intended to provide transparency on fiscal policy. And Reeves clearly understands the importance of how international financial markets react to the UK’s level of spending – and its public debt (currently about 100% of GDP).

    But the world is not a stable place. And with the OBR halving its 2025 GDP growth forecast from 2% to 1%, unplanned cuts to public spending followed.

    Consistency in fiscal policy helps households and business to plan for the future. But during times of heightened uncertainty with global tariffs looming, GDP is likely to remain volatile. This makes not changing the government’s fiscal stance particularly challenging.

    It is also challenging for chancellor personally, as she would prefer to have one “fiscal event” a year, rather than two. But the OBR is obliged to provide economic forecasts twice a year, and when it slashes expected growth, she is duty bound to respond.

    Somewhat ironically then, the government’s stability rule is having the unintended consequence of adding policy uncertainty to an already uncertain overall economic environment – and more frequent changes to fiscal policy.

    ‘Let’s shake on increasing defence spending, bigly.’
    Joshua Sukoff/Shutterstock

    Modest defence spending boost will struggle to reverse years of decline

    Jamie Gaskarth, Professor of Foreign Policy and International Relations, the Open University

    In two months, the UK defence sector has been turned upside down – primarily by Donald Trump. His administration has made implied threats to invade a NATO ally (Denmark), challenged the sovereignty of another (Canada) and pulled support for Ukraine, openly siding with Russia in ceasefire negotiations. There is a real chance the US will draw down its security presence in Europe.

    If European countries are to meet the full cost of their own security, this will have to mean a dramatic increase in defence budgets. So far, the UK has redistributed aid money to help fund an increase in defence spending to 2.5% of GDP (from 2.3%) by 2027, with the ambition to raise it to 3% in the next parliament.

    It has also offered an extra £2 billion to underwrite defence exports. But this is small beer.

    As with many areas of public spending, dramatic cuts to the defence budget during the years of austerity (22% in real terms) have meant delays to procurement, crumbling estates and a chronic lack of investment.

    This will take a substantial uplift to redress. Recent increases under the Conservatives were eaten up by capital costs and inflation.

    And while ideas such as the £400 million ringfenced to support innovation in AI and new technology are welcome, these are tiny amounts in the grand scheme of things. The UK is not going to be a “defence industrial superpower” any time soon if budget announcements are this small, and increases so modest.

    Promise to disabled people in tatters

    William E. Donald, Associate Professor of Sustainable Careers and Human Resource Management, University of Southampton

    In November, social security and disability minister Sir Stephen Timms spoke passionately at the Shaw Trust Disability Power 100 awards, vowing to undo past injustices and declaring: “We now want to put that right.” As a disabled person, I cheered. That promise now lies in ruins.

    Despite government claims there will be no return to austerity, sick and disabled people face a real-terms cut to their incomes and the criteria for claiming personal independence payment (Pip) will become stricter than ever. This isn’t just a policy to save £5 billion, it’s cruelty and a devastating attack on disabled people.

    Pip isn’t means-tested and is paid regardless of whether you work. It exists because, according to disability charity Scope, disabled households need an additional £1,010 a month to achieve the same standard of living as others. Stripping this support away while NHS mental health waiting lists grow, energy and food prices rise, and the disability pay gap sits at 12.7% won’t push people into work. It will push them into crisis.

    Last year, Labour promised to break barriers for disabled people. Instead, they are building new ones. These cuts come at the expense of society’s most vulnerable. The consequences will be catastrophic.

    Building a future?
    Ian Dyball/Shutterstock

    Social housing boost – but homes could be improved now

    Nicky Shaw, Senior Lecturer in Operations Management, Leeds University Business School, and Simon Williams, Associate Faculty, Leeds University Business School

    The chancellor’s £2 billion investment in new homes will certainly help to increase the availability of affordable social housing. Everyone agrees that access to decent, affordable homes is important, but the quality and maintenance of existing social houses remains critical. Replacing cladding, for example, is stubbornly challenging.

    But beyond just building more social housing, our research has explored key measures of tenant satisfaction. The potential ways for digital tools such as AI to improve the efficiency of tasks like repairs and maintenance in future are numerous.

    But social housing’s tenant demographic includes many people who are more vulnerable, some of whom prefer not to – or simply cannot – engage with digital services. This means that sustaining face-to-face contact with tenants is critical. Investing in tenants’ experience now could really deliver tangible benefits for some of Britain’s most vulnerable people.

    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. Spring statement: defence spending boosted as further disability benefit cuts announced – experts react – https://theconversation.com/spring-statement-defence-spending-boosted-as-further-disability-benefit-cuts-announced-experts-react-253149

    MIL OSI – Global Reports –

    March 27, 2025

  • MIL-OSI United Kingdom: Chancellor delivers security and national renewal for Northern Ireland in new era of global change

    Source: United Kingdom – Executive Government & Departments

    Press release

    Chancellor delivers security and national renewal for Northern Ireland in new era of global change

    The UK Chancellor delivered the Spring Statement today (Wednesday 26 March 2025)

    • Chancellor vows to bring about “new era of security and national renewal” as she delivered a Spring Statement to kickstart economic growth, protect working people and keep Britain safe. 

    • People across the UK to be on average £500 a year better off by the end of this parliament compared to under the previous government, putting more money in people’s pockets. 

    • Growth at the heart of Plan for Change as £13 billion of additional capital spend allocated alongside £2.2 billion defence funding boost next year will get Britain building. 

    People across the UK will be on average £500 better off from 2029, relative to OBR’s autumn forecast, helping to deliver the Plan for Change as the Chancellor today (Wednesday 26 March) announced a Spring Statement to grasp the opportunities in a changing world. 

    The OBR also confirmed that the UK economy is expected to grow faster than expected from 2026 and will be larger by 2029 compared to its autumn forecast – up to 9.5% compared to 9.2%.  

    The Chancellor also set out how the government is protecting national security and maximising the growth potential of the UK defence sector by confirming a £2.2 billion increase in the UK-wide defence budget in 2025-26. 

    The Spring Statement delivers UK Government spending plans focused on its core objectives, bringing security and stability for working people across the UK.  

    It follows the Budget in the autumn where the Chancellor announced that the Northern Ireland Executive will be provided with an £18.2 billion settlement in 2025/26 – the largest in real terms in the history of devolution. This includes an additional £1.5 billion through the Barnett formula, with £1.2 billion for day-to-day spending and £270 million for capital investment.  

    The measures taken today top these Barnett consequentials up by a further £14 million in 2025/26. The Northern Ireland Executive are receiving over 24% more per person than equivalent UK Government spending in the rest of the UK, including the 2024 restoration financial package. 

    The Northern Ireland Executive’s block grant funding from 2026-27 onwards will be confirmed at Phase 2 of the Spending Review, which concludes on 11 June 2025. The Chief Secretary to the Treasury will meet with his counterparts from the devolved governments to discuss their priorities ahead of its conclusion.  

    Secretary of State for Northern Ireland Hilary Benn said:  

    I welcome the fact that Northern Ireland will receive a £14 million boost in Barnett consequentials as a result of today’s announcements, building on the record £18.2 billion settlement which was confirmed by the UK Government last Autumn. 

    This also follows a  £235 million package to transform public services in Northern Ireland, which will support the transformation of key public services which make a real impact on people’s lives, including health, education, planning and justice. 

    Importantly, today’s announcement reinforces the economic growth potential of the UK defence sector, and follows  the Prime Minister’s announcement of a £1.6bn deal to provide air defence missiles for Ukraine, which will create 200 jobs in Northern Ireland and demonstrates the strength of the local defence industry. 

    From next week, working people across Northern Ireland and the UK will also benefit from an increase to the National Living Wage, putting more money into the pockets of hard-working people. 

    And the UK Government continues to provide support  across Northern Ireland through City and Growth deal packages, having confirmed the Mid-South West and Causeway Coast and Glens City deal last year.    

    Taken together, these measures will foster growth in Northern Ireland, creating jobs, supporting public services, and boosting the quality of life for local people.” 

    Growth 

    Kickstarting economic growth is the number one mission of this government, putting more money in people’s pockets. 

    The UK Government has already made considerable progress on growth in Northern Ireland, including confirming the Mid-South West and Causeway Coast and Glens City deal. Earlier this month, the Prime Minister also announced a £1.6bn deal to provide air defence missiles for Ukraine, which will create 200 jobs in Northern Ireland. In February we launched Intertrade UK which will advise on how businesses can take advantage of the full opportunities of the UK internal market.   

    The actions of this government across the Autumn Budget and Spring Statement, if sustained, lead to a 0.6% rise in the level of real GDP by 2034-25. 

    The OBR concluded that the stability rule is met by £9.9 billion and the investment rule is met by £15.1 billion. Both rules are met two years early, meaning from 2027-28 the government is only borrowing for investment and net financial debt is falling. 

    The government is not satisfied with short-term growth figures, and is going further and faster today to improve this. 

    The Chancellor has announced a further £13 billion of capital investment over the Parliament to go further on growth, on top of the £100 billion uplift announced at Autumn Budget. This will deliver the projects needed to catalyse private investment, boost growth and drive forward the UK’s modern industrial strategy. 

    Taken together, this greater capital investment more than offsets the modest savings on day-to-day spending and means the total departmental spending will increase over the next five years, when compared with plans in the Autumn. 

    Defence 

    The world is changing before our eyes, reshaped by global instability, including Russian aggression in Ukraine. Europe is facing a once-in-a-generation moment for its collective security, with conflicts overseas undermining security and prosperity at home.  

    A month ago, the Prime Minister announced the biggest sustained increase in defence spending since the Cold War as a result of the changing global picture, now reaching 2.5% of GDP by April 2027, and with an ambition to reach 3% in the next Parliament subject to economic and fiscal conditions.  

    We are going further and faster to protect our national security and maximise the economic growth potential of the UK defence sector.  

    • Increasing the defence budget by £2.2 billion in 2025-26, taking additional spending on defence to over £5 billion since the Autumn Budget. 

    • This raises spending on defence to 2.36% next year and will be invested in fitting Royal Navy ships with Directed Energy Weapons five years earlier than planned, providing better homes for military families and modernising His Majesty’s Naval Base Portsmouth.  

    • Setting a minimum 10 percent ringfence for equipment spending on emerging technologies like drones and autonomous systems, dual-use technology, and AI-powered capabilities, so that British troops have the tools they need to fight and win in modern warfare.   

    • Getting this new tech into the hands of our armed forces quicker by cutting away bureaucracy, with a new UK Defence Innovation unit within the Ministry of Defence spearheading efforts to identify promising technology and ensure these get to the frontline at speed, while also bolstering the UK tech sector and crowding in private investment.  

    • Creating bespoke procurement processes for different types of military equipment, learning lessons from our rapid support for Ukraine to drive faster timescale targets for operationalising new tanks, aircraft and other essential tools for modern warfare.  

    • This government is determined to transform the defence sector into an engine for growth by focusing this investment on where it boosts the productive capacity of the economy such as investment in innovation and novel technologies. As a result of the increase in defence spending to 2.5%, the government estimates this could lead to around 0.3% higher GDP in the long run, equivalent to around £11 billion of GDP in today’s money. 

    • The government’s investment in defence will also support its number one mission to deliver economic growth. UK citizens will be protected from threats at home whilst creating a stable environment in which businesses can thrive, and supporting highly skilled jobs and apprenticeships across the whole of the UK. 

    Reform 

    The UK Government is determined to make the public sector more productive and to improve services for working people. But the changing world means we need to go further and faster to ensure we can deliver the public services that working people care most about. 

    The government has shown its commitment to taking the difficult decisions required to drive efficiencies and reform the state – reducing bureaucratic inefficiencies and duplication; and driving out wasteful government spend through cancelling thousands of government credit cards. 

    Getting more people into jobs is also central to the government’s growth mission. The broken welfare system is letting people down by asking them to prove what they can’t do, rather than focusing on what they could do with the right support – trapping people due to fear of trying work, lack of support and poor financial incentives. 

    The Chancellor has confirmed the creation of a £3.25 billion Transformation Fund to support the fundamental reform of public services, seize the opportunities of digital technology and Artificial Intelligence (AI), and transform frontline delivery to release savings for taxpayers over the long-term. 

    The UK Government provided £235 million to transform public services in Northern Ireland as part of the £3.3 billion restoration package for the Executive. This month we agreed to allocate £129 million of that funding to projects across several priority public services including health, education, planning and justice. The funding will see £61 million go towards expanding the multi-disciplinary teams in GP clinics across Northern Ireland, and support five other projects across justice, special education and infrastructure which represent key priorities in the Executive’s Programme for Government. 

    Looking Forward 

    This Spring Statement builds on the Autumn Budget and the decisions taken since required to deliver stability to the British economy and kickstart economic growth. 

    The government will set out its plans for spending and key public sector reforms at the Spending Review which will conclude on 11 June 2025. 

    Notes to editors 

    • Government calculations for the long-run impacts of higher defence spending are based on estimates from Antolin-Diaz and Surico (2025), forthcoming in the American Economic Review (AER), of the GDP impact of higher defence spending on GDP. Their estimates of the GDP multiplier stabilise after ten years at around 1.6, which is assumed to reflect an appropriate long-run multiplier for potential output, as any demand-side effects are likely to have dissipated at the ten-year horizon. 

    • Defence spending as a share of GDP is set to rise from 2.3% to 2.5%, an increase of 0.2 percentage points. Applying an elasticity of 1.6 to this change implies a long-run increase in the level of potential output of approximately 0.3%. A long-run increase to the level of potential output of 0.3% is equivalent to around £11 billion of GDP in the long run, in today’s prices.

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    Published 26 March 2025

    MIL OSI United Kingdom –

    March 27, 2025

  • MIL-OSI USA: CWA Statement in Response to the Supreme Court Hearing Oral Argument on the Universal Service Fund

    Source: Communications Workers of America

    WASHINGTON, D.C. – In response to the Supreme Court hearing oral argument in Consumers’ Research v. Federal Communications Commission considering the constitutionality of the Universal Service Fund, the Communications Workers of America (CWA) releases the following statement:

    We firmly believe the decades-old Universal Service Fund is fully constitutional and look forward to the Supreme Court affirming that position.

    We can’t let today’s Supreme Court case distract us from the bigger problem: that Congress must act now to reform the Universal Service Fund and ensure its viability for the future. We need to update the program for the internet age, to ensure that the major players who benefit from our networks contribute their fair share to universal service in this country, and to ensure that we can provide the broadband affordability programs that our economy needs. Congress must move forward with contribution reform to the USF program and not overreact to an extremist legal position threatening the program’s constitutionality. If the Supreme Court were to make a decision jeopardizing the USF—which would be in sharp contrast with the overwhelming public support conveyed in amicus briefs from the communications sector, labor, schools, libraries, health care providers, low-income advocates, and others—Congress should be ready to quickly address that decision in a manner targeted to the Court’s opinion and complementary to the necessary structural reforms.

    Every American household, business, hospital, library, and school should have access to affordable communications services no matter where they are located, and the Universal Service Fund is critical to making that happen. CWA members include technicians and customer support representatives who build and service broadband networks. We see the positive impact of these programs every day. As fiber broadband networks expand, the Universal Service programs will be even more important to ensure that everyone has the opportunity to realize the benefits that high-speed internet service provides.

    ###

    About CWA: The Communications Workers of America represents working people in telecommunications, customer service, media, airlines, health care, public service and education, manufacturing, tech, and other fields.

    cwa-union.org @cwaunion

    MIL OSI USA News –

    March 27, 2025

  • MIL-OSI: Sidetrade Annual Results for 2024: Operating Margin exceeds 15% of Revenue and Net Profit up 40%

    Source: GlobeNewswire (MIL-OSI)

    New record in year-over-year bookings (+13% in ACV)

    Strong revenue growth: up 26% with SaaS subscriptions up 22%

    Operating margin (3)exceeds 15% of revenue (+45%)

    Surge in net profit to €7.9 million, up 40%

    Operating cash flow strongly supporting the acquisition of SHS Viveon

    Recognized ESG commitment: Platinum by EthiFinance and Silver by EcoVadis

    Sidetrade, the global leader in AI-powered Order-to-Cash applications, today announces a 26% increase in revenue for 2024, with a surge in operating margin (3)of €8.4 million (+45%) and in net profit of €7.9 million (+40%).

    Sidetrade

    (€m)

    		 2024 2023 Change
           
    Revenue 55.0 (1) 43.7 +26%
    SaaS subscriptions 45.5 (2) 36.6 +22%
           
    Gross margin 43.1 35.3 +22%
           
    Operating expenses (OPEX) (34.6) (29.4) +18%
           
    Operating margin (3) 8.4 5.8 +45%
    as a % of revenue 15% 13%  
    Net profit 7.9 5.6 +40%

    2024 information is from consolidated, unaudited data.
    (1) includes €4.4m in SHS Viveon revenue
    (2) includes €3.0m in SHS Viveon recurring revenue
    (3) Operating margin corresponds to operating profit based on 2024 accounting standards in France, including the French Research Tax Credit.

    Olivier Novasque, CEO of Sidetrade commented:

    “2024 once again illustrates the strength of Sidetrade’s business model, combining growth with profitability. Our 26% revenue increase was driven by a major breakthrough in the North American market, a leading-edge AI offering embraced by large enterprises, and the acquisition of SHS Viveon in Germany, which has further solidified our leadership in Order-to-Cash solutions across Europe. For the first time in our history, we have surpassed €8 million in operating profit, a significant 45% increase, highlighting the effectiveness and balance of our expansion strategy. But the real story goes beyond this impressive performance. We are witnessing an accelerated revolution in how businesses leverage artificial intelligence, marked by the emergence of specialized AI agents. Unlike traditional automation models that rely on rigid rule-based programming and constant human oversight, AI agents bring a new level of autonomous decision-making and real time operational optimization. These are no longer mere automation tools; they are intelligent entities capable of anticipating needs and acting independently within a company’s IT infrastructure, with minimal human intervention. Where traditional software simply organizes workflows using pre-defined rules, an AI agent trains, learns, adapts, and executes complex processes on its own. And this agentic revolution is only just beginning! At Sidetrade, Aimie represents the next generation of AI, evolving into an agentic AI that will orchestrate a network of AI agents, each managing a specific link in the Order-to-Cash cycle: risk, disputes, collections, cash application, and more. Aimie will direct, coordinate, and interconnect these high-specialized agents. Backed by the Sidetrade Data Lake, the most unique in the Order-to-Cash market and built on $7.2 trillion in B2B transactions spanning over 39.9 million businesses, Aimie is already powered by a one-of-a-kind training dataset in our field that will give its AI agents unmatched intelligence. Thanks to intensified R&D investments in 2024, we are set to launch our first next-gen AI agent in 2025, one that will redefine the boundaries of autonomy and capability. Companies that fail to embrace this paradigm shift will be rapidly outpaced by those that embed AI agents at the core of their operational excellence. With Aimie, Sidetrade is fully aligned with this AI agent revolution and is uniquely positioned to lead the race in its field.”

    New record in year-over-year bookings (+13% in ACV)
    Sidetrade maintained its growth trajectory in 2024 and set a new record with Annual Contract Value (ACV) reaching €12.73 million, up 13% compared to 2023. Annual Recurring Revenue (New ARR), increased by 6%, amounting to €6.53 million while Services bookings grew by 21%, totaling €6.2 million.

    Bookings by new customers (“New Business”) accounted for 63% of total new bookings in 2024, while contract extensions (“Cross-sell”) and additional modules to existing customers (“Upsell”) contributed 18% and 19% of bookings, respectively.

    Strong revenue growth in 2024: up 26% with SaaS subscriptions up 22%

    In 2024, Sidetrade reported annual revenue of €55.0 million, marking a 26% increase compared to the previous year, and a 16% increase on a reported basis (excluding the acquisition of SHS Viveon finalized in June 2024). Several factors contributed to this strong performance:

    • Sustained organic growth: Overall revenue (excluding the acquisition of SHS Viveon) grew by 16%, while SaaS subscriptions increased by 15%. Meanwhile, Services showed impressive growth of 24%, driven by global implementation projects.
    • Strategic acquisition of SHS Viveon opening the DACH region: Since July 1, 2024, SHS Viveon has contributed €4.4 million to Sidetrade’s revenue, now accounting for 15% of total revenue in the second half of 2024.
    • Expanding international reach: The integration of SHS Viveon has increased the share of revenue generated outside of France to 65%. With 70% of its workforce now based internationally, Sidetrade demonstrates its ability to scale globally while maintaining strong local client relationships, key to building trust and driving operational efficiency.
    • Outstanding performance in North America: North America recorded the highest growth in 2024, with a 36% increase, bringing annual revenue to €16.6 million. This strategic market is central to Sidetrade’s ambitions.

    Sidetrade continues to strengthen its position among multinationals, with a 44% increase in subscriptions from companies generating over €2.5 billion in revenue. These contracts now represent 50% of total subscriptions. More broadly, companies generating over €1 billion in revenue account for 79% of the portfolio, cementing Sidetrade’s status as a preferred partner for large enterprises.

    Gross margin and operating margin: strongly accelerating performance

    • Strong growth in gross margin: +22% with an increase of €7.8 million

    The sustained momentum in subscription growth continued to drive the expansion of the gross margin in 2024. On a like-for-like basis (excluding SHS Viveon), the gross margin rate for subscriptions remained particularly high at 92%, compared to 93% in 2023. SaaS subscriptions now represent 97% of the total gross margin.

    Sidetrade’s overall gross margin rate on a like-for-like basis stood at 80%, versus 81% the previous year. Including the impact of SHS Viveon acquisition, the consolidated gross margin rate reached 78% of total revenue for the 2024 fiscal year.

    In total, in 2024, Sidetrade delivered an incremental gross margin increase of €7.8 million compared to 2023, representing a +22% year-over-year growth.

    • Operating margin exceeding 15% of revenue (vs 13% in 2023)

    Sidetrade’s operating margin showed a remarkable increase, reaching €8.4 million in 2024, up 45% from €5.8 million in 2023. This profitability is driven by sustained business growth, an excellent gross margin and disciplined cost management.

    Thanks to this momentum, Sidetrade has continued its investment strategy, with an increase in expenditure of €5.2 million over 2023, and a particular focus on R&D (+€2.4 million), notably to accelerate the integration of generative AI into its core product offering.

    The 2024 operating margin includes a French Research Tax Credit of €2.6 million (versus €2.4 million in 2023) as well as activation of €0.16 million in marginal R&D costs, i.e., 2% of R&D costs for the full year.

    As a result, Sidetrade’s operating margin stands at 15% of revenue versus 13% in 2023, representing a 2-point gain year-over-year.

    Surge in net profit to €7.9 million: up 40%

    Sidetrade’s financial income, recorded as of December 31, 2024, stands at €0.7 million, up significantly from 2023 (€0.4 million). This performance is mostly due to interest earned on short-term investments during the year and the foreign exchange gains realized over the period.

    Corporate income tax for 2024 is estimated at €1.1 million, versus €0.6 million in 2023.

    All told, Sidetrade’s net profit for 2024 was €7.9 million, an increase of 40%, confirming the solid balance between growth and profitability.

    Operating cash flow strongly supporting the acquisition of SHS Viveon

    In 2024, Sidetrade generated a solid operating cash flow of €9.6 million, up €3.3 million (excluding the timing impact of the French Research Tax Credit refund). This level of cash generation enabled the Company to fully self-finance the acquisition of SHS Viveon, with a net cash outlay of €5.2 million (€6.6 million for the purchase of shares, offset by €1.4 million in available cash held by SHS Viveon).

    As of December 31, 2024, Sidetrade reported €25.2 million in gross cash, up €1.3 million compared to year-end 2023.

    In addition, Sidetrade held 85,437 of its own shares, valued at €19.1 million as of December 31, 2024.

    Financial debt stood at €7.9 million, down €2.3 million year-over-year. Even after the SHS Viveon acquisition, Sidetrade retains substantial investment capacity, well-positioned to support its continued expansion strategy.

    Recognized ESG commitment: Platinum by EthiFinance and Silver by EcoVadis

    In 2024, Sidetrade accelerated its transition toward becoming a more responsible company and was awarded a Platinum medal from EthiFinance and a Silver medal from EcoVadis, with respective scores of 84/100 and 70/100. Now ranked among the top 15% of the most highly rated companies audited by EcoVadis, demonstrating its leadership in social responsibility.

    These accolades confirm the relevance of Sidetrade’s strategy and its ability to anticipate the environmental and social challenges of tomorrow.

    Sidetrade looks ahead to the fiscal year 2025 with confidence and a clear vision, and has the resources to fulfill its ambitions.

    Next financial announcement
    First Quarter Revenue for 2025: April 15, 2025, after the stock market closes.
    Investor relations
    Christelle Dhrif                00 33 6 10 46 72 00           cdhrif@sidetrade.com
    Media relations @Sidetrade
    Becca Parlby                  00 44 7824 5055 84           bparlby@sidetrade.com

    About Sidetrade (www.sidetrade.com)
    Sidetrade (Euronext Growth: ALBFR.PA) provides a SaaS platform designed to revolutionize how cash flow is secured and accelerated. Leveraging its next-generation AI, nicknamed Aimie, Sidetrade analyzes $7.2 trillion worth of B2B payment transactions daily in its Cloud, thereby anticipating customer payment behavior and the attrition risk of 39.9 million buyers worldwide. Aimie recommends the best operational strategies, dematerializes and intelligently automates Order-to-Cash processes to enhance productivity, results and working capital across organizations.
    Sidetrade has a global reach, with 400+ talented employees based in Europe, the United States and Canada, serving global businesses in more than 85 countries. Amongst them: Bidcorp, Biffa, Bunzl, Engie, Inmarsat, KPMG, Lafarge, Manpower, Page, Randstad, Saint-Gobain, Securitas, Tech Data, UGI, and Veolia.
    Sidetrade is a participant of the United Nations Global Compact, adhering to its principles-based approach to responsible business.

    For further information, visit us at www.sidetrade.com and follow @Sidetrade on LinkedIn.
    In the event of any discrepancy between the French and English versions of this press release, only the French version is to be taken into account.

    Attachment

    • Sidetrade Annual Results for 2024: Operating Margin exceeds 15% of Revenue and Net Profit up 40%

    The MIL Network –

    March 27, 2025

  • MIL-OSI: Quadient SA: FY 2024 results: Solid 1st year delivery of “Elevate to 2030” strategic plan, with Digital Solution achieving €267m in revenue and 61% EBITDA growth to €47m

    Source: GlobeNewswire (MIL-OSI)

    Quadient FY 2024 results:
     Solid 1st year delivery of “Elevate to 2030” strategic plan, with Digital Solution achieving €267m in revenue and 61% EBITDA growth to €47m

    Key highlights

    • FY 2024 financial targets achieved
    • Two operating profitability milestones reached:
    • Digital EBITDA margin at 17.5%, up 5.7pts yoy, reflecting strong profitability improvement
    • All three solutions are EBITDA positive
    • Consolidated sales of €1,093 million, up +2.8% on a reported basis, including the contribution of the latest acquisitions
    • FY 2024 subscription-related revenue up +10.2% in Digital and up +11.5% in Lockers
    • FY 2024 subscription-related revenue of €777m, representing 71% of total revenue, up +€30m yoy,
      vs. +      €90m 2026 target
    • FY 2024 Group current EBIT of €146 million, up +2.2% organically
    • Proposed dividend of €0.70 per share, up by €0.05 for the fourth consecutive year
    • FY 2025 outlook: acceleration both in organic revenue growth and in current EBIT organic growth vs. 2024

    Paris, 26 March 2025

    Quadient S.A. (Euronext Paris: QDT), an Intelligent automation platform powering secure and sustainable business connections, today announces its 2024 fourth-quarter consolidated sales and full-year results (period ended on 31 January 2025). The full year 2024 results were approved by the Board of Directors during a meeting held on 25 March 2025.

    Geoffrey Godet, Chief Executive Officer of Quadient S.A., stated: “We have delivered a solid first year of our Elevate to 2030 strategic plan.

    Our Digital Automation platform has reached the record level of c.€270 million in revenue thanks to both the addition of 2,600+ new customers and the contribution from the increased usage and upsell from our existing 16,500 customer base. This strong revenue increase has been delivered together with a significant improvement in profitability with EBITDA rising by 61% to reach €47 million. We are now in a good position to exceed the 20% EBITDA margin ambition set for 2026.

    2024 also saw the highest level of Digital cross-sold deals into our Mail customer base while at the same time our Mail business continues to outpace competition. In Lockers, investments made over the past couple of years are paying off, contributing to a strong performance in H2 with double digit growth in revenue thanks to increased usage of the locker base across all regions. In addition, Lockers have reached EBITDA breakeven over the full year and profitability will further improve as we continue to increase the size of our network, grow its usage and take advantage of the recent addition of Package Concierge in the US residential sector.

    At Company level, this solid performance translates into a €30 million increase in annual recurring revenue, well on track to deliver the €90 million increase targeted by 2026. Based on this solid start to the strategic plan, we are confident in our ability to continue building a €1bn recurring revenue platform by 2030, generating €250 million current EBIT. Therefore, we are proposing to increase our dividend for the fourth consecutive year in a row, to €0.70.

    While macro uncertainties have recently been growing, we are expecting an acceleration of organic growth in revenue and current EBIT in 2025 against 2024 levels.”

    Comments on FY 2024 performance

    Group sales came in at €1,093 million in FY 2024, a +2.8% increase on a reported basis, and +0.4% organic growth compared to FY 2023, in line with Quadient’s expectations. The reported growth includes a positive currency impact of €2 million and a positive scope effect of €24 million, which is related to the acquisitions of Daylight (September 2023), Frama (February 2024) and Package Concierge (December 2024).

    In the fourth quarter of 2024, reported revenue growth stood at +4.1% and organic revenue growth was broadly flat, at -0.2%, compared to Q4 2023.

    Subscription-related revenue reached €777 million in FY 2024, growing +1.6% organically, and representing 71% of total sales. This represents a €30 million increase year-on-year (compared to the +€90 million target by 2026), progressing toward the €1 billion subscription-related revenue target by 2030. Performance in the fourth quarter of 2024 was steady, up 2.1% organically against Q4 2023, driven by a double-digit organic increase in Digital and in Lockers. Non-recurring revenue declined by 2.4% organically in FY 2024, including a 5.1% decline in Q4 2024, essentially due to a high comparison basis in Mail hardware sales.

    By geography, North America (58% of revenue) continued to outperform other regions with a +2.8% organic growth achieved in FY 2024.

    Consolidated sales and EBITDA by Solution

    FY 2024 consolidated sales

    In € million FY 2024 FY 2023 Change Organic change
    Digital 267 245 +9.1% +7.7%
    Mail 732 729 +0.4% (2.5)%
    Lockers 94 88 +5.7% +4.3%
    Group total 1,093 1,062 +2.8% +0.4%

     

    EBITDA and EBITDA margin

      FY 2024 FY 2023
    In € million EBITDA EBITDA margin EBITDA EBITDA margin
    Digital 47 17.5% 29 11.8%
    Mail 200 27.4% 218 29.9%
    Lockers 1 0.6% (3) (3.0)%
    Group total 247 22.6% 244 23.0%
     

    Digital

    In FY 2024, revenue from Digital reached €267 million, up 7.7% organically (+10.1% in Q4 2024 vs. Q4 2023) and up 9.1% on a reported basis (including the contribution from Daylight) compared to FY 2023.

    This solid performance was driven by a strong 10.2% organic growth in subscription-related revenue in FY 2024 (+10.5% in Q4 2024 vs. Q4 2023), including a good contribution from North America and continued positive commercial trends across the platform with further solid cross-selling and up-selling. In FY 2024, subscription-related revenue was representing 82% of Digital total sales, a further increase compared to 80% in FY 2023.

    At the end of FY 2024, annual recurring revenue (ARR), which is a forward-looking indicator of future subscription-related revenue, reached €232 million, up from €206 million at the end of FY 2023, representing a 12.7% organic growth.

    EBITDA for Digital was €47 million in FY 2024, up +61% year-on-year. EBITDA margin was at 17.5%, a strong improvement of 5.7 points compared to FY 2023. In H2 2024, EBITDA margin further improved, reaching 19.1%, after 15.7% in H1 2024. This positive evolution in profitability reflects the combination of subscription-related revenue growth and platform maturity. The Digital solution is well on track to reach its target of EBITDA margin greater than 20% in 2026.

    As part of its customer acquisition strategy, Digital continues to demonstrate strong commercial momentum. Over
    2,600 new customers were added     in FY 2024 thanks in particular to robust cross-selling with Mail, especially in North America. Digital experienced a dynamic fourth quarter, with several key deals secured in the US. Additionally, a new partnership was established with Avaloq to deliver Customer Communications Management capabilities to the financial services industry.

    As part of the customer expansion process, the focus continues to be on further increasing up-selling, notably in financial automation process. Several platform innovations have been made, to bring added value to customers, including the ramp-up and extension of Repay for direct supplier invoice payments in the US and Canada, and new electronic invoice formats (UBL, CII, Factur-X) to align with upcoming European e-invoicing regulation.

    In Quadient’s core geographies, the addressable demand for its Digital automation platform is set to grow from
    c.€6 billion in 2023 to c.€9 billion in 2027, representing a +10% CAGR, creating substantial growth opportunities in both communication and financial automation.

    To capture this growth, Quadient is strongly positioned, leveraging on:

    • a sound base of highly predictable business, with over 16,500 customers, 82% subscription-based revenue,
      and a churn rate well below 5%,
    • a highly recognized platform in financial & communication automation, and 84.5% of Saas customers,
      across three regions,
    • a fully scalable and modulable platform, for small to large customers, driving new client acquisition (+2,600 in FY 2024) and record cross-sell of Digital solutions into Quadient Mail customers and increased upsell opportunities among existing customers,
    • an efficient go-to-market organisation that driving a 34% year-on-year increase in bookings in Q4 2024 and +12.7% growth of ARR at the end of the year.

    Mail

    Mail revenue reached €732 million in FY 2024, down 2.5% on an organic basis (-4.6% in Q4 2024 vs. Q4 2023). The reported growth stood at +0.4%, including the contribution of Frama.

    Hardware sales recorded a minor -1.7% organic decline in FY 2024, despite a 7.3% drop registered in Q4 2024, mainly reflecting a high comparison basis related to deals signed in H2 2023.

    Subscription-related revenue (68% of Mail sales) recorded a 2.9% organic decline in FY 2024.

    EBITDA for Mail was €200 million for FY 2024. EBITDA margin reached 27.4%, down 2.5 points compared to FY 2023. Mail EBITDA margin was impacted by the dilutive effect of Frama acquisition, including integration costs. Frama’s performance is due to improve significantly from 2025 onward, with positive current EBIT already reached in FY 2024 and payback of the acquisition expected in FY 2025.

    Thanks to its strong focus on customer acquisition, Quadient’s Mail business continues to outperform the market. In Q4 2024, commercial performance remained resilient in North America, particularly in highly regulated industries where secure mail communications are key.

    As part of the customer expansion focus, outlook remains strong driven by a high customer satisfaction rate of 95.7% and robust cross-selling performance, especially in the US where a record-breaking performance in placement of Digital solutions was recorded in Q4 2024. Mail business also benefited from the positive impact of the ongoing US mailing systems decertification, though this impact is expected to conclude in Q1 2025. Lastly, Quadient aims at upgrading Frama’s installed base and initiating some cross-selling to promote its Digital offer to Frama’s customers.

    At the end of January 2025, already 42.4% of Quadient installed base has been upgraded with its newest technology.

    Lockers

    Lockers revenue reached €94 million in FY 2024, a +4.3% increase on an organic basis, with strong momentum in the latter part of the year (+8.0% in Q4 2024 vs. Q4 2023, after a strong Q3 2024, up +14.3% year-on-year) and a +5.7% increase on a reported basis compared to FY 2023, including a marginal contribution from Package Concierge.

    Subscription-related revenue was up 11.5% organically in FY 2024 (+19.6% in Q4 2024 vs. Q4 2023), benefiting from:

    • the continued strong volumes ramp up in the British and the French open networks;
    • the sustained strong momentum in the US, driven by higher monetization of usage fees;
    • a resilient performance in Japan, despite an unfavorable e-commerce environment.

    Overall, subscription-related revenue stood at 64% of total revenue in FY 2024, up from 61% in FY 2023.

    Non-recurring revenue (license & hardware sales and professional services) were down 6.8% organically in FY 2024. Hardware sales were still impacted by slower new installations in North America.

    Quadient’s global locker installed base reached c.25,700 units at the end of FY 2024, including c. 3,000 units from Package Concierge, vs. c.20,200 units at the end of FY 2023. This is reflecting an acceleration in the pace of installation of new lockers, notably in the UK, fueled by the partnerships signed by Quadient to host parcel lockers in new suitable locations.

    EBITDA for Lockers was above breakeven, at €1 million in FY 2024. EBITDA margin stood at 0.6%, up by 3.6 points compared to FY 2023. This significant profitability improvement, illustrated by a 6.7% EBITDA margin in H2 2024, was driven by growing recurring revenue and increased usage. Additionally, the revised commercial agreement with Yamato for the Japanese installed base was implemented at the beginning of H2 2023.

    As part of the customer acquisition focus, Quadient is accelerating the pace of installation for new lockers in its open networks in Europe, mostly in France and the UK, with installed base up 145% year-on-year. This is supported by the additional deals signed for premium locations (including Morrisons Daily Stores and ScotRail…). Additionally, the trend for new installations in North America has turned positive in Q4, where market share leadership position in Residences and Universities remains robust.

    As part of the customer expansion strategy, volumes from both pick-up and drop-off in European open networks saw a significant increase, growing sevenfold between Q4 2023 and Q4 2024. The momentum in North America for the locker network, particularly across the multifamily sector and higher education campuses was strong in Q4 2024. In Japan, macroeconomic conditions have impacted parcel volumes, but new initiatives, such as the new partnership with Japan Post, are aimed at driving volume growth and increasing adoption.

    REVIEW OF 2024 FULL-YEAR RESULTS

    Simplified P&L

    In € million FY 2024 FY 2023 Change
    Sales 1,093 1,062 +2.8%
    Gross profit 818 788 +3.7%
    Gross margin 74.8% 74.2%  
    EBITDA 247 244 +1.2%
    EBITDA margin 22.6% 23.0%  
    Current EBIT 146 147 (0.5)%
    Current EBIT margin 13.4% 13.8%  
    Optimization expenses and other operating income & expenses (23) (15) +58.0%
    EBIT 123 132 (7.0)%
    Financial income/(expense) (39) (31) +24.8%
    Income before tax 84 101 (16.8)%
    Share of results of associated companies 1 (0) n/a
    Income taxes (17) (17) +2.8%
    Net income of continued operations 68 84 (19.4)%
    Net income from discontinued operations (0) (14) (98.7)%
    Net attributable income 66 69 (3.4)%
    Earnings per share 1.94 2.02  
    Diluted earnings per share 1.94 2.01  
     

    Gross margin stood at 74.8% in FY 2024 slightly up compared to FY 2023, due to lower cost of sales.

    EBITDA(1) for the Group reached €247 million in FY 2024, up €3 million compared to FY 2023. EBITDA grew by 3.0% organically, driven by strong growth of 80% in Digital and improved profitability in Lockers, which more than compensated for the softer EBITDA performance in Mail. The EBITDA margin reached 22.6% in FY 2024. It was almost stable compared to FY 2023: despite the impact of the change in revenue mix and the dilutive effect of Frama acquisition, the Group EBITDA margin was supported by significant profitability gains in Digital and Lockers.

    Depreciation and amortization stood at €101 million in FY 2024, compared to €98 million in FY 2023. This slightly higher depreciation mainly reflects the increase in Lockers’ asset base.

    Current operating income (current EBIT) reached €146 million in FY 2024 compared to €147 million in FY 2023, up 2.2% on an organic basis. Current EBIT margin stood at 13.4% of sales in FY 2024 compared to 13.8% in FY 2023.

    Optimization costs and other operating expenses stood at €23 million in FY 2024, versus €15 million in FY 2023. This increase mainly relates to the write-off of an IT project, additional office optimization and Frama restructuring costs.

    Consequently, EBIT reached €123 million in FY 2024, versus €132 million recorded in FY 2023.

    Net attributable income

    Net cost of debt was up from €29 million in FY 2023 to €39 million in FY 2024, impacted by higher interest rates. The currency gains & losses and other financial items was broadly flat in FY 2024, compared to a loss of €2 in FY 2023. Overall, net financial result was a loss of €39 million in FY 2024 compared to a loss of €31 million in FY 2023.

    Income tax expense was stable year-on-year at €17 million.

    Net income from discontinued operations of the Mail Italian subsidiary was null in FY 2024, compared to a €14 million loss in FY 2023. This loss included exceptional charges related to the sale process for this subsidiary, which was sold to a local mail distribution company in October 2024.

    Net attributable income after minority interests amounted to €66 million in FY 2024 compared to €69 million in FY 2023.

    Earnings per share(2) stood at €1.94 in FY 2024 compared to €2.02 in FY 2023. The fully diluted earnings per share(2) was €1.94 in FY 2024 compared to €2.01 in FY 2023.

    Cash flow generation

    The change in working capital was a net cash inflow of €9 million in FY 2024 compared to a net cash outflow of €6 million in FY 2023, mostly reflecting the positive impact from timing on prepaid expenses and customers deposits.

    The leasing portfolio and other financing services stood at €623 million as of 31 January 2025, compared to €598 million as of 31 January 2024, up on an organic basis (i.e. excluding currency impact of €18 million) for the first time in several years thanks to good hardware placements in Mail. While generating future subscription-related revenue, this increase in lease receivables resulting from the good performance in the placement of new equipment translates into a cash outflow of
    €7 million in FY 2024. At the end of FY 2024, the default rate of the leasing portfolio stood at around 1.1% compared to c.1.3% at the end of FY 2023.

    Interest and taxes paid increased to €67 million in FY 2024 versus the amount of €55 million paid in FY 2023. The difference was mostly explained by higher interest rates in FY 2024.

    Capital expenditure reached €108 million in FY 2024, up €7 million compared to FY 2023, mostly due to UK locker open network deployment. Capex for Digital reached €24 million in FY 2024, slightly up compared to €22 million in FY 2023 and was mainly focused on R&D and platform development. Capex for Mail remained at fairly high level of €51 million
    (vs. €53 million in FY 2023), due to continued high placement of machines related to the US decertification, which is expected to end in Q1 2025. Capex for Lockers increased from €26 million to €33 million to support the ramp-up of the deployment of the open network in the UK. The sale of Frama real estate in Switzerland generated €6 million in cash inflows in FY 2024.

    All in all, cash flow after capital expenditure (free cash flow) reached €66 million in FY 2024, compared to €64 million in FY 2023.

    Leverage and liquidity position

    Net debt stood at €741 million as of 31 January 2025, a slight increase against €709 million as of 31 January 2024. In FY 2024, Quadient successfully raised approximately €325 million in new facilities, including the following transactions in H2 2024:

    • in October 2024, the Company secured EBRD financing, including a €25 million Schuldschein;
    • in December 2024, the Company secured a USD 50 million bank loan;
    • in January 2025, Quadient further strengthened its financial position with the issuance of a USD 100 million USPP.

    These new facilities enabled Quadient to repay post-closing its €260 million bond due in February 2025 and settle the repayment of Schuldschein loans for €29 million, also due in early 2025. As a result of these transactions, the Company’s average debt maturity has been extended to four years as of the end of February 2025, compared to three years at the end of FY 2023.

    The leverage ratio (net debt/EBITDA) remained broadly stable at 3.0x(3) as of 31 January 2025 compared to 2.9x(3) as of 31 January 2024. Excluding leasing, Quadient leverage ratio remained stable at 1.7x(3) as of 31 January 2025, despite the acquisitions of Frama and Package Concierge in 2024, as well as the implementation of a share buyback programs.

    As of 31 January 2025, the Group had a strong liquidity position of €667 million, split between €367 million in cash and a €300 million undrawn credit line, maturing in 2029.

    Shareholders’ equity stood at €1,113 million as of 31 January 2025 compared to €1,069 million as of 31 January 2024. The gearing ratio(4) stood at 66.6% as of 31 January 2025.

    SHAREHOLDER’ RETURN

    Proposed dividend for FY 2024 stands at €0.70 per share, representing an 8% increase against FY 2023, and a payout ratio of 36.1% of net income, higher than Quadient’s minimum 20% pay-out ratio of net income as per the Group’s dividend policy. This represents a €0.05 year-on-year increase, for the fourth consecutive year. The dividend is subject to approval by the Annual General Meeting, scheduled for 13 June 2025, and will be paid in cash in one instalment on 6 August 2025.

    In addition, Quadient’s announced in September 2024 the launch of a share buyback program for a total consideration of up to €30 million. To date, €10 million worth of shares have been repurchased, with the program set to be executed over an
    18-month(5) period. This operation demonstrates Quadient’s confidence in the value creation potential of its “Elevate to 2030” strategic plan, its ability to reach its FY 2026 leverage ratio target(6) and is in line with the capital allocation policy of the Company, while improving shareholders’ return.

    OUTLOOK

    The evolving dynamics within Quadient’s business portfolio, characterized by strong growth in Digital and Lockers revenue alongside a moderate decline in Mail revenue, will naturally drive a year-on-year acceleration in the Company’s total revenue growth.

    As Digital and Lockers continue to expand their share of Quadient’s revenue and profit, while simultaneously improving their profitability, this shift is expected to contribute to a higher growth in current EBIT

    As a result, Quadient targets an acceleration in organic revenue growth and in current EBIT organic growth in 2025 compared to 2024.

    Quadient also confirms its 3-year guidance for the 2024-2026 period of minimum 1.5% organic revenue CAGR and minimum 3% organic current EBIT CAGR.

    Q4 2024 BUSINESS HIGHLIGHTS

    Avaloq and Quadient Partner to Elevate Client Communications for Financial Services
    On 3 December 2024, Quadient and Avaloq announced today their partnership to offer unrivaled customer communications management (CCM) capabilities for the financial services industry. Avaloq has selected Quadient Inspire as its standard CCM solution, seamlessly integrating it into the Avaloq platform.

    Quadient Launches SimplyMail in Europe to Help Small Businesses Leverage Digital Solutions to Enhance Efficiency in Mail Operations
    On 11 December 2024, Quadient announced the launch in Europe of SimplyMail, a solution designed to address the growing needs for smaller businesses to automate and optimize their mail operations with ease.

    Quadient Named a Worldwide Automated Document Generation and CCM Leader by IDC
    On 12 December 2024, Quadient announced it has been named a Leader in the IDC MarketScape: Worldwide Automated Document Generation and Customer Communication Management 2024 Vendor Assessment.

    Quadient Recognized in Two IDC MarketScape Reports for Accounts Receivable Automation Applications
    On 16 December 2024, announced it has been named a Leader in the IDC MarketScape: Worldwide Accounts Receivable Automation Applications for Small and Midmarket 2024 Vendor Assessment. Additionally, Quadient has been recognized for the first time as a Major Player in the IDC MarketScape: Worldwide Accounts Receivable Automation Applications for the Enterprise 2024 Vendor Assessment.

    Quadient Surpasses 25,000 Global Locker Installations with US Package Concierge Acquisition, Setting Sights on Exceeding €100M of Locker Revenue in 2025
    On 18 December 2024, Quadient announced the acquisition of US-based parcel management solutions provider Package Concierge®, exceeding the 25,000-unit mark in its global installed base. Package Concierge provides innovative digital locker technology that addresses the growing challenges of package management in residential, commercial, retail and university campuses across the United States.

    Quadient strengthens its financial position with a USD50 million bank loan from Bank of America
    On 20 December 2024, announced a USD50 million bank loan from Bank of America. This new credit facility, which comes with a 3-year maturity at a variable rate, strengthens Quadient’s financial position ahead of debt maturities due in 2025.

    Report by Leading Analyst Firm Shows Quadient Recorded the Fastest Growth in 2023 Among CCM Market Leaders
    On 10 January 2025, Quadient announced that a newly released report by market research and consulting firm IDC shows Quadient rapidly closing the gap on the top position. Quadient’s 13.7% year-on-year revenue growth in 2023 has accelerated from its 11% growth in 2022. This is also the fastest growth among the major Customer Communications Management (CCM) vendors globally, outperforming the overall market growth.

    Quadient Secures New c.$1.6 Million Contract to Enhance US Government Agency’s Mail Automation Capacity
    On 14 January 2025, Quadient announced that it has been selected by a US government agency to modernize its mail automation infrastructure in a contract valued at c.$1.6 million. This follows a previous announcement in October 2024, where Quadient was awarded a contract worth nearly $1 million for a similar modernization project with another federal agency.

    Leading Human Resources Technology Company Selects Quadient for Accessibility Compliance in Customer Communications
    On 16 January 2025, Quadient announced that a leading US provider of integrated benefits, payroll, and human resources cloud solutions has selected customer communications management (CCM) platform Quadient Inspire to ensure accessibility compliance for its US federal agency client.

    Quadient Partners with ScotRail to Introduce Parcel Lockers at Stations Across Scotland
    On 21 January 2025, Quadient announced a partnership with ScotRail to deploy Parcel Pending by Quadient automated lockers across Scotland’s rail network. ScotRail, Scotland’s national rail operator, is enhancing its passenger experience and operational efficiency with the installation of parcel lockers in its stations.

    Quadient strengthens its financial position through a USD100 million US Private Placement from MetLife
    On 22 January 2025, Quadient announced that it has signed a new USD100 million US Private Placement (USPP) with MetLife Investment Management (“MIM”), reinforcing its financial position. This new USPP of USD 100 million senior notes has a
    7-year average maturity and comes with an additional shelf facility allowing the issue of senior notes for a maximum aggregate principal amount of USD50 million.

    Quadient Teams Up with Buzz Bingo to Bring Convenient Parcel Lockers to Bingo Clubs Across the UK
    On 28 January 2025, Quadient announced a partnership with Buzz Bingo to deploy Parcel Pending by Quadient automated lockers in 35 of its 81 bingo clubs across the UK, with plans for further installations in the future. This collaboration enhances parcel collection, delivery, and return convenience while improving the customer experience at Buzz Bingo locations.

    Leading US Law Firm Chooses Quadient in a Deal Over $1M to Streamline Mailing, Shipping, and Accounting Processes
    On 30 January 2025, Quadient announced a new contract with one of the largest injury law firms in the US, transitioning the firm from its long-standing provider to Quadient. Under the new agreement, worth over 1 million dollars, the firm is rolling out nearly 100 Quadient iX-Series mailing systems at offices across the country, all seamlessly integrated with Quadient’s cloud-based S.M.A.R.T. accounting and shipping software.

    Quadient Reports Strong Year-End Locker Usage Growth in Multifamily and Higher Education Campuses in North America
    On 31 January 2025, Quadient announced strong year-end momentum in the adoption and usage of its Parcel Pending by Quadient locker network across multifamily and higher education campuses in North America.

    POST-CLOSING EVENTS

    Morrisons Partners with Quadient for Convenient Parcel Delivery at its Morrisons Daily Stores
    On 18 February 2025, Quadient announced a new partnership with Morrisons. The partnership will see Parcel Pending by Quadient parcel lockers installed at 230 Morrisons Daily stores by spring 2025.

    Quadient Enables New Shipping Service with Japan Post on its Open Locker Network, Driving Convenience and Increased Parcel Volume
    On 3 March 2025, Quadient announced an expanded partnership between Japan Post and Packcity Japan, a joint venture between Quadient and Yamato Transport. Thanks to the extended partnership, consumers will not only receive Japan Post deliveries at Packcity Japan’s nationwide open network of automated parcel lockers, but they will also now be able to ship parcels from the lockers, called PUDO stations. Consumers using Japan Post’s Yu-Pack parcel service use a mobile app to ship from a PUDO station, eliminating the need to wait at delivery counters or manually handling shipping slips.

    Quadient Maintains Leader Position on Aspire Leaderboard for Customer Communications and Interaction Experience Software
    On 13 March 2025, Quadient announced it has maintained its leadership position on the Aspire Leaderboard. Produced by independent advisory firm Aspire CCS, the Aspire Leaderboard highlights and compares vendors in the customer communications management (CCM) and customer experience management software space. It is updated in real-time as vendors release enhancements and adjust strategies.

    To know more about Quadient’s news flow, previous press releases are available on our website at the following address: https://invest.quadient.com/en/newsroom.

    CONFERENCE CALL & WEBCAST

    Quadient will host a conference call and webcast today at 6:00 pm Paris time (5:00 pm London time).

    To join the webcast, click on the following link: Webcast.

    To join the conference call, please use one of the following phone numbers:

    ▪ France: +33 (0) 1 70 37 71 66.
    ▪ United States: +1 786 697 3501.
    ▪ United Kingdom (standard international): +44 (0) 33 0551 0200.

    Password: Quadient

    A replay of the webcast will also be available on Quadient’s Investor Relations website for 12 months.


     

    Calendar

    • 3 June 2025: Q1 2025 sales release (after close of trading on the Euronext Paris regulated market)
    • 13 June 2025: Annual General Meeting

    About Quadient®

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

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

    Contacts

    APPENDIX

    Digital: New name for Intelligent Communication Automation

    Mail: New name for Mail-Related Solutions

    Lockers: New name for Parcel Locker Solutions

    FY 2024 and Q4 2024 consolidated sales

    FY 2024 consolidated sales by geography

    In € million 2024 2023 Change Organic
    change
    North America 632 607 +4.0% +2.8%
    Main European countries(a) 369 354 +4.5% (2.0)%
    International(b) 92 101 (9.7)% (5.4)%
    Group total 1,093 1,062 +2.8% +0.4%
    1. Including Austria, Benelux, France, Germany, Ireland, Italy (excluding Mail), Switzerland, and the United Kingdom
    2. International includes the activities of Digital, Mail and Lockers outside of North America and the Main European countries

    Q4 2024 consolidated sales by Solution

    In € million Q4 2024 Q4 2023 Change Organic change
    Digital 73 65 +11.5% +10.1%
    Mail 196 196 (0.3)% (4.6)%
    Lockers 27 22 +20.2% +8.0%
    Group total 295 284 +4.1% (0.2)%
     

    Q4 2024 consolidated sales by geography

    In € million Q4 2024 Q4 2023 Change Organic
    change
    North America 171 160 +7.0% +2.5%
    Main European countries(a) 100 97 +3.3% (2.9)%
    International(b) 24 27 (10.7)% (6.9)%
    Group total 295 284 +4.1% (0.2)%
    1. Including Austria, Benelux, France, Germany, Ireland, Italy (excluding Mail), Switzerland, and the United Kingdom
    2. International includes the activities of Digital, Mail and Lockers outside of North America and the Main European countries

    Financial statements – Full-year 2024

    Consolidated income statement

    In € million FY 2024
    (period ended
    on 31 January 2025)    		 FY 2023
    (period ended
    on 31 January 2024)
    Sales 1,093 1,062
    Cost of sales (275) (274)
    Gross margin 818 788
    R&D expenses (63) (63)
    Sales and marketing expenses (287) (275)
    Administrative and general expenses (187) (176)
    Service and support expenses (116) (109)
    Employee profit-sharing, share-based payments and other expenses (10) (7)
    M&A and strategic projects expenses (8) (11)
    Current operating income 146 147
    Optimization expenses and other operating income & expenses (23) (15)
    Operating income 123 132
    Financial income/(expense) (39) (31)
    Income before taxes 84 101
    Income taxes (17) (17)
    Share of results of associated companies 1 (0)
    Net income from continued operations 68 84
    Net income of discontinued operations (0) (14)
    Net income 67 70
    Of which:

    • Minority interests
    		 1 1
    • Net attributable income
    		 66 69

    Simplified consolidated balance sheet

    Assets
    In € million    		 FY 2024
    (period ended
    on 31 January 2025)    		 FY 2023
    (period ended
    on 31 January 2024)
    Goodwill 1,131 1,082
    Intangible fixed assets 119 121
    Tangible fixed assets 170 156
    Other non-current financial assets 65 65
    Other non-current receivables 2 2
    Leasing receivables 623 598
    Deferred tax assets 38 17
    Inventories 75 67
    Receivables 240 228
    Other current assets 79 84
    Cash and cash equivalents 367 118
    Current financial instruments 1 2
    Assets held for sale 0 9
    TOTAL ASSETS 2,910 2,550
    Liabilities
    In € million    		 FY 2024
    (period ended
    on 31 January 2025)    		 FY 2023
    (period ended
    on 31 January 2024)
    Shareholders’ equity 1,113 1,069
    Non-current provisions 12 12
    Non-current financial debt 722 715
    Current financial debt 347 66
    Lease obligations 38 46
    Other non-current liabilities 3 2
    Deferred tax liabilities 101 104
    Financial instruments 5 5
    Trade payables 104 79
    Deferred income 223 212
    Other current liabilities 242 225
    Liabilities held for sale 0 15
    TOTAL LIABILITIES 2,910 2,550

    Simplified cash flow statement

     

    In €millions

    		 FY 2024
    (period ended
    on 31 January 2025)    		 FY 2023
    (period ended
    on 31 January 2024)
    EBITDA 247 244
    Other elements (15) (19)
    Cash flow before net cost of debt and income tax 233 225
    Change in the working capital requirement 9 (6)
    Net change in leasing receivables (7) (0)
    Cash flow from operating activities 235 219
    Interest and tax paid (67) (55)
    Net cash flow from operating activities 168 165
    Capital expenditure (108) (101)
    Disposal of assets 6 0
    Net cash flow after investing activities 66 64
    Impact of changes in scope (37) (5)
    Net cash flow after acquisitions and divestments 29 59
    Dividends paid (22) (21)
    Change in debt and others 219 (39)
    Net cash flow after financing activities 226 (1)
    Cumulative translation adjustments on cash (6) (2)
    Net cash from discontinued operations (1) (9)
    Change in net cash position 219 (11)

    ([1]) EBITDA = current operating income + provisions for depreciation of tangible and intangible fixed assets.
    ([2]) For the FY 2024, the average compounded number of shares is 34,114,060. Diluted number of shares is 34,486,288.
    ([3]) Including IFRS 16
    ([4]) Net debt / shareholder’s equity
    ([5]) Subject to the renewal of the share buyback authorizations at the 2025 AGM
    ([6]) FY 2026 leverage ratio excluding leasing target of 1.5x

    Attachment

    The MIL Network –

    March 27, 2025

  • MIL-OSI United Nations: Pact for the Future: Countries urged to translate pledges into action

    Source: United Nations 2

    26 March 2025 UN Affairs

    UN Member States met on Wednesday for the first of three key meetings to advance a global agreement that pledges concrete actions to achieve a safer, more peaceful, sustainable and inclusive world for generations to come. 

    General Assembly President Philémon Yang convened the informal interactive dialogue on the implementation of the Pact for the Future, which covers five areas: sustainable development, international peace and security, science and technology, youth, and transforming global governance.

    It was adopted at a UN summit in September 2024 together with two annexes – a  Global Digital Compact and a Declaration for Future Generations – marking a significant step towards a renewed multilateral system.

    For a look back at our full live coverage on the day, go here.

    ‘A shared commitment’

    “The Pact for the Future is a shared commitment to a more just, sustainable and secure world. But a promise is only meaningful when it has been translated into action,” Mr. Yang told delegates gathered in the Trusteeship Council at UN Headquarters in New York.

    He recognized the complexity and unique challenges that each country will face in implementation, including least developed countries, landlocked developing countries, and small island developing states. 

    Mr. Yang emphasized that implementation must reflect what works best for each nation, which requires tailored approaches that consider resource restraints and capacity gaps. 

    “To succeed, we must build an enabling environment through smart investments and right reforms,” he said, calling for closing the resource gap, flexible trade policies, and stronger international cooperation in technical assistance, capacity-building and knowledge-sharing.

    Divisions and mistrust 

    UN Secretary-General António Guterres highlighted action that has occurred since the Pact’s adoption but also the work that still lies ahead amid “a long list of challenges” that include intensifying conflicts and climate disasters.

    “Geopolitical divisions and mistrust are blocking effective action, with some actively questioning the value of international cooperation and the multilateral system itself,” he said. 

    “Meanwhile, critical funding is being drastically cut for people in desperate need – with more reductions to come,” he warned.

    Progress on peace efforts

    Mr. Guterres updated on progress in four key areas, starting with peace and security. He said the Pact represents a commitment to strengthen tools to prevent and address conflict and ensure that UN peace efforts respond to new and emerging threats.

    In this regard, he noted progress on a review of all Peace Operations, as requested in the agreement.

    “The review will be an opportunity to help adapt peace operations to today’s realities, and ensure they’re guided by clear and sequenced mandates that are realistic and achievable – with viable exit strategies and transition plans,” he said. 

    “It will also recognize the limitations of our operations where there is little or no peace to keep,” he added. 

    Fairer financial system

    Turning next to finance for development, Mr. Guterres said the UN has been working closely with the World Bank and the International Monetary Fund (IMF) to follow-up on action points in the Pact regarding improvements to the international financial system.

    “Developing countries must be represented fairly in the governance of the very institutions they depend on,” he said.  

    The Secretary-General also has established an expert group to identify practical steps for action on debt.

    “At the same time, we will continue advocating to increase the lending capacity of Multilateral Development Banks, making them bigger and bolder,” he said.

    “This includes both stretching their balance sheets and recapitalization. And we must ensure that concessional finance is deployed where it is most needed.”

    Meanwhile, the UN will also continue pushing forward on other priorities outlined in the Pact, including disarmament commitments around nuclear, biological and chemical weapons, lethal autonomous weapons and the growing weaponization of outer space.

    Focus on youth

    Mr. Guterres was adamant the international community must deliver for young people and generations to come. 

    He said progress is being made towards establishing a Youth Investment Platform to ensure that national funding mechanisms and investment platforms are focused on the needs of young people.

    The UN is also developing core principles to strengthen youth engagement across its work, while the Declaration on Future Generations looks to those yet to be born.

    The Secretary-General said that later this year he will appoint a Special Envoy for Future Generations to scale up these efforts.

    Closing digital divides

    His final point concerned technology, and Mr. Guterres reported that the UN is implementing the Global Digital Compact’s calls to close all digital divides and ensure everyone, everywhere, benefits from a safe and secure digital space.

    Particular focus is on Artificial Intelligence (AI), he said, and a report is being developed on voluntary financing options to help countries in the Global South to harness AI for the greater good.

    Furthermore, the zero draft of a resolution to establish the International Independent Scientific Panel on AI and convene a Global Dialogue on AI Governance was circulated last week.

    The UN chief urged the General Assembly to act swiftly to establish the Panel, ensure AI expertise and knowledge are available to all countries, and support the Global Dialogue. 

    UN taking action

    Mr. Guterres added that as the UN pushes for these priorities, the global body is also improving the efficiency and effectiveness of its operations, in line with the Pact.

    “We’re already seeing results: from speeding-up disaster assessments in the Asia-Pacific, to strengthening social security programmes in Malawi, to consolidating Information Technology functions across the UN System,” he said.

    The Secretary-General stressed that this work must continue “especially in light of the funding challenges we face,” underlining the need for support. 

    MIL OSI United Nations News –

    March 27, 2025

  • MIL-OSI: Cheems: The Resilient Memecoin That Rose From the Ashes

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, March 26, 2025 (GLOBE NEWSWIRE) — In a remarkable turn of events, $CHEEMS has emerged as one of the most resilient and triumphant memecoins in history. Overcoming early struggles, lack of ecosystem support, and technical limitations, Cheems has defied the odds and today achieved a milestone: the circulating market cap of $CHEEMS has flipped $ZK, the blockchain it originally launched on. This groundbreaking moment marks a defining chapter in the memecoin revolution.

    From its inception, Cheems faced challenges that would have led most projects to failure. The attempt to open-source the project was obstructed by compatibility issues with zkSync, a hurdle that many would have seen as insurmountable. Yet, rather than succumbing to adversity, the Cheems community persevered, demonstrating an unwavering commitment to its vision.

    Christian, the whale and core developer of Cheems, reflects on this journey:

    “I still remember the tough times our community had in the beginning, when no one cared, no support from the ecosystem. @LordCheems_bsc is a project that failed to open source due to compatibility issues with @zksync. I think most people would have rug-pulled, but $CHEEMS survived and is making its own history. Background, technique, VCs—it doesn’t matter. What matters is the spirit of never giving up and being responsible. We are all CHEEMS. We are making history.”

    The rise of $CHEEMS is not just a testament to its strong community but also an embodiment of the true spirit of decentralization. Unlike traditional projects that rely on venture capital and corporate backing, Cheems is a fair-launch project that has relied solely on its community’s belief and resilience.

    Today, while the market cap of zkSync sits at $500M, Cheems remains under $50M—yet its momentum is undeniable. Long-term holders and early believers recall the struggles of Cheems before its migration to BNB Chain. The initial airdrop attracted many retail investors who were drawn by zkSync’s promise, but as ecosystem narratives shifted, Cheems was left without institutional support or a clear leader. What seemed like an inevitable demise instead turned into a rebirth, fueled by the community’s determination to carve its own path.

    With the memecoin sector experiencing a new wave of enthusiasm, many are beginning to recognize Cheems as the biggest wealth creation opportunity of this cycle. The project’s resurgence has established a renewed sense of faith and unity among its supporters, proving that true success is not dictated by technical backing or venture capital endorsements, but by the strength of its believers.

    Cheems has rewritten history—and this is just the beginning.

    About Cheems
    Cheems is a community-driven memecoin that has defied the odds and established itself as a leading force in the decentralized finance and cryptocurrency space. Initially launched on zkSync, Cheems faced numerous challenges, from technical limitations to a lack of institutional support. However, through the unwavering dedication of its community, Cheems survived and thrived, evolving into a symbol of resilience and fair-launch success. With a commitment to decentralization, innovation, and financial inclusivity, Cheems continues to make history in the crypto space.

    For media inquiries, please contact:

    Email: contact@cheems.pet

    Romeo Kuok

    Disclaimer: This press release is provided by Cheems. 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.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/57fb964e-5ad3-4af0-86c4-fb86b03b474c

    The MIL Network –

    March 27, 2025

  • MIL-OSI Security: St. Louis man sentenced to 12+ years’ imprisonment in $1.7 million check fraud scheme

    Source: Office of United States Attorneys

    BENTON, Ill. – A southern Illinois district judge sentenced a St. Louis man to 145 months in federal prison for his involvement in a vehicle sale scheme using fake cashier’s checks and targeting victims in Madison, Jasper, Bond and Fayette counties.

    Valentino Colic, 34, pleaded guilty in September to one count of conspiracy to commit wire fraud, two counts of wire fraud, two counts of interstate transportation of property taken by fraud and six counts of aggravated identity theft. Following imprisonment, he will serve three years of supervised release.

    The 11-count indictment also named co-conspirators Alen Saric, 36, Almir Palic, 25, and Emad Hasanbegovic, 34, all of St. Louis. Saric pleaded guilty in January to one count of conspiracy to commit wire fraud, one count of interstate transportation of property taken by fraud and one count of aggravated identity theft. His sentencing hearing is scheduled for May 7.

    Palic was sentenced to 51 months in February. Hasanbegovic is facing one count of conspiracy to commit wire fraud and one count of identity theft. He is scheduled for a court hearing in May.

    An indictment is merely a formal charge against a defendant. Under the law, a defendant is presumed to be innocent of a charge until proved guilty beyond a reasonable doubt to the satisfaction of a jury.

    “Criminals are skilled at creating fake checks to look real and defraud victims, so it’s critical for the public to authenticate checks from people not personally known to them by confirming with the issuing bank or waiting until checks are accepted into their bank account before transferring property or otherwise sending funds,” said U.S. Attorney Steven D. Weinhoeft.

    According to court documents, the co-conspirators participated in a scheme to defraud private vehicle sellers on Facebook marketplace and Craigslist with fake cashier’s checks from 2018 until August 2023. The checks were printed on security-enhanced check paper with the names and logos of real banks with fake routing numbers.

    Once the fraudsters possessed a vehicle, they would then resell the vehicle to another individual for cash before the original victim could try to cash the check and realize it was worthless. The conspirators issued at least $1,710,999 in fake cashier’s checks.

    “This investigation is a testament to the strength of collaboration across local, state, and federal law enforcement,” said FBI Springfield Special Agent in Charge Christopher Johnson. “This sentencing as well as the upcoming sentencing of co-conspirators highlights efforts the FBI and our partners are making to ensure those who attempt to exploit others for personal gain will be held accountable.”

    To keep the co-conspirators’ names out of the chain of title, they used the names of prior victims to buy and sell the vehicles and forged signatures to complete documents such as titles and bills of sale. When posing as the victims, they often used copies of their photo IDs they had received during the previous sales. By writing bad checks from prior victims, the conspiracy caused even more financial hardship by revictimizing the same people repeatedly.  

    The fraudsters bought and resold vehicles from more than 100 victims across five states. Colic and Saric admitted to driving the vehicles over state lines to benefit the scheme.

    The FBI Springfield Field Office, the Metro East Auto Theft Task Force, Missouri State Highway Patrol, Illinois State Police, Illinois Secretary of State Police, Jefferson County (Missouri) Sheriff’s Department and several local police departments contributed to the investigation. Assistant U.S. Attorney Peter T. Reed is prosecuting the case.

    MIL Security OSI –

    March 27, 2025

  • MIL-OSI Security: Dominican Republic Citizen Residing in Cleveland, Ohio, Indicted for Defrauding Grandparents from Western Pennsylvania Out of Tens of Thousands of Dollars

    Source: Office of United States Attorneys

    PITTSBURGH, Pa. – A resident of Cleveland, Ohio, originally from the Dominican Republic has been indicted by a federal grand jury in Pittsburgh on charges of Receipt of Stolen Money that Crossed a State Border, Acting United States Attorney Troy Rivetti announced today.

    The five-count Indictment names Luis Alfonso Bisono Rodriguez, 34, as the sole defendant. Rodriguez was previously charged on March 21, 2025, by way of Criminal Complaint, and was arrested last week in the Cleveland area.

    As alleged in the Complaint Affidavit, Rodriguez is a member of an organized crime group operating across Pennsylvania and Ohio to defraud victims in the Western District of Pennsylvania and elsewhere out of tens of thousands of dollars pursuant to a grandparent fraud scam. As part of that scheme, scammers call a grandparent and impersonate their grandchild in a crisis such as an accident or arrest, and then ask the grandparent to send immediate financial assistance. Money from the victims was picked up in Pennsylvania and delivered by Lyft and Uber drivers to various locations in Northern Ohio, where Rodriguez was captured on surveillance videos from various retail establishments meeting the drivers and receiving the stolen money. Rodriguez then sent much of the fraud proceeds to the Dominican Republic via wire transfers, as well as deposited portions of the fraud proceeds into bank accounts.

    As alleged, between October 2024 and January 2025, at least five elderly individuals from Western Pennsylvania were victimized by the scam and defrauded out of a total of more than $50,000. The investigation has revealed that there are likely many more victims in Pennsylvania, Ohio, and other states. The Federal Bureau of Investigation asks that individuals with information about this scam and/or who believe that they or others they know may have been a victim of the scam report that fraud through the Bureau’s Internet Crime Complaint Center at www.ic3.gov.

    Assistant United States Attorney Brendan T. Conway is prosecuting this case on behalf of the government.

    The Pittsburgh and Cleveland offices of the Federal Bureau of Investigation conducted the investigation leading to the Criminal Complaint and Indictment, with the assistance of the Parma Police Department in Northern Ohio and numerous police departments in Western Pennsylvania, including the Millcreek Township Police Department, Grove City Police Department, Scott Township Police Department, Fox Chapel Police Department, Finley Township Police Department, and Hermitage Police Department.

    An indictment and a criminal complaint are accusations. A defendant is presumed innocent unless and until proven guilty.

    MIL Security OSI –

    March 27, 2025

  • MIL-OSI: No. 11/2025 – Update financial calendar 2025/2026

    Source: GlobeNewswire (MIL-OSI)

    Nasdaq Copenhagen                                                                                   
    Nikolaj Plads 6
    DK-1067 Copenhagen K   

    Copenhagen, 26 March 2025
    ANNOUNCEMENT no. 11/2025

    UPDATE FINANCIAL CALENDAR 2025/2026

    The financial calendar for 2025/2026 has been scheduled as follows:

    2025:                           

    25.02.2025  Annual Report 2024                           

    26.03.2025  Annual General Meeting

    27.08.2025 Interim Report, H1 2025                    

    2026:

    25.02.2026 Annual Report 2025                           

    24.03.2026  Annual General Meeting

    Cemat A/S 

    Frede Clausen
    Chairman of the Board

    This announcement has been prepared in a Danish-language and an English-language version. In case of doubt, the Danish version prevails.

    Attachment

    • Announcement no. 11 – Updated financial calendar

    The MIL Network –

    March 27, 2025

  • MIL-OSI: Bitcoinese Launches Blockchain Research Lab to Accelerate Innovation and Global Collaboration

    Source: GlobeNewswire (MIL-OSI)

    Hamburg, Germany, March 26, 2025 (GLOBE NEWSWIRE) — Bitcoinese has officially launched its new Blockchain Research Lab, a dedicated initiative focused on advancing blockchain infrastructure, smart contract security, cross-chain technology, and applied AI systems. This move positions Bitcoinese at the forefront of blockchain research, aiming to foster innovation through global academic and industry partnerships.

    Establishing a Research-Driven Future for Blockchain Development

    The newly formed Bitcoinese Blockchain Research Lab will serve as a central hub for exploring next-generation blockchain solutions, with a strong emphasis on interdisciplinary collaboration. By uniting researchers, developers, and technologists, the lab will produce whitepapers, prototypes, and open-source frameworks designed to solve complex challenges in digital infrastructure.

    Key areas of focus include:

    Scalable Blockchain Architecture: Researching high-throughput, low-latency consensus mechanisms and energy-efficient systems.

    Smart Contract Security: Developing automated audit tools and formal verification methods for decentralized applications.

    Cross-Chain Protocols: Designing interoperability frameworks for seamless asset transfers between blockchains.

    AI Integration: Investigating the convergence of artificial intelligence and decentralized ledgers for predictive analytics and autonomous finance.

    The lab will operate with a global, open-access model, allowing select external contributors to participate in research programs and collaborate on technical publications.

    Partnerships with Universities and Industry Experts

    To ensure real-world impact, Bitcoinese is forming strategic partnerships with universities, technology institutes, and blockchain research foundations across Europe, Asia, and North America. These collaborations will involve joint publications, co-hosted conferences, and talent development programs aimed at fostering the next generation of blockchain engineers and scientists.

    Bitcoinese will also offer research grants and fellowships to emerging scholars and developers working on critical blockchain advancements. The lab will regularly publish peer-reviewed studies and technical documentation for the public and industry stakeholders.

    Accelerating Open-Source Innovation

    A core goal of the Blockchain Research Lab is to support the open-source blockchain ecosystem. All major findings and tools developed by the lab will be published under open-source licenses, enabling adoption and contribution from global communities.

    Initial projects under development include:

    A modular testing environment for smart contract stress testing.

    A decentralized benchmarking tool for cross-chain bridges.

    An open AI oracle system for autonomous smart contract execution.

    These initiatives are expected to provide essential infrastructure for developers working on DeFi, enterprise blockchain, supply chain, and digital identity solutions.

    Bitcoinese’s Commitment to Long-Term Technological Advancement

    By launching the Blockchain Research Lab, Bitcoinese reinforces its commitment to long-term technological innovation and global cooperation. The company views research as a foundational pillar of its ecosystem and believes that investment in knowledge, transparency, and experimentation is critical to driving the next wave of blockchain adoption.

    Bitcoinese plans to host its first Blockchain Research Forum in the coming year, inviting scholars, developers, and policymakers to engage in discussions around security, regulation, scalability, and ethics in decentralized technology.

    This research-led initiative underscores Bitcoinese’s vision of building a blockchain future grounded in evidence-based development and collaborative progress.

    The MIL Network –

    March 27, 2025

  • MIL-OSI: Electric Tri-Converter Demo Results a Breakthrough for Aether Aurora™ SAF Solution

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, March 26, 2025 (GLOBE NEWSWIRE) — Aether Fuels (Aether), a sustainable fuels technology company, today reported exciting demonstration results for the electric Tri-Converter technology embedded in its proprietary Aether Aurora™ solution which aims to transform the economics of sustainable fuels and accelerate large-scale deployment. This electric Tri-Converter demonstration has a capacity that is more than 50 times larger than the previously demonstrated pilot plant. The results represent a breakthrough for sustainable aviation fuel (SAF) production.

    The electric Tri-Converter converts waste carbon feedstocks into the syngas that supplies the downstream Fischer-Tropsch (FT) unit in the Aether Aurora process. The purpose of the demo was to prove that the electric Tri-Converter can continuously produce syngas at an increasingly larger scale using a mix of real-world feedstocks, including biogenic CO2, renewable natural gas (RNG), and clean hydrogen. The program is part of Aether’s program to build and operate a fully integrated demonstration plant (the “Demo Plant”) producing more than one barrel per day of sustainable fuels. Aether plans to complete the construction of the Demo Plant later this year.

    The demonstrator is a joint project between Aether and GTI Energy. Aether Aurora integrates technology elements first developed by GTI Energy in a gas-to-liquids program, which is supported by grants from the U.S. Department of Energy (DOE). Aether has licensed the relevant technologies from GTI Energy and leverages the laboratory and demonstration spaces at its Chicago-area campus. Aether has subsequently taken over responsibility for future Aether Aurora development and commercialization, including expanding its R&D team.

    The results of the demonstrator validate that the electric Tri-Converter is ready for integration into the Demo Plant. More critically, they demonstrate the solution’s capability to use a wide range of abundant feedstocks to create sustainable fuels—a breakthrough that can potentially shatter a key barrier to scaling production.

    This milestone was celebrated yesterday at the Aether and GTI Energy demonstrator site where Aether investors and feedstock executives joined federal, state and local officials to view the technology, meet the team, tour Aether’s R&D center and GTI Energy lab spaces, and learn how the innovations will accelerate the transition to sustainable fuels. State Senator Laura Murphy (IL-28th) was on hand to deliver opening remarks.

    The Syngas Generation Engine for Next-Gen Sustainable Fuels

    Aether Aurora optimizes the well-established FT process to create drop-in liquid hydrocarbons leveraging its novel electric Tri-Converter and Upgrading technologies. As the solution’s “syngas generation engine”, the electric Tri-Converter improves and streamlines the process where feedstocks and the internally recycled downstream byproducts are converted into syngas. This is achieved via novel catalysts and a reactor that uses electricity instead of combustion to generate the reaction heat. Where typical syngas production requires multiple reactors to convert the same mix of inputs, Aether Aurora employs just one. The streamlined equipment configuration reduces CAPEX while the electrification innovations generate higher energy efficiency and yields than a conventional combustion reactor.

    Aether’s demonstrator is supported by suppliers that include bp for RNG, Invenergy for clean hydrogen production, and Certarus Ltd for low carbon energy supply and logistics.

    State Senator Murphy remarked: “The road to the future is paved in sustainable practices, and GTI Energy and Aether Fuels are at the forefront of this future. They are leading the way in developing energy solutions that will transform how we power industries, transportation and everyday life. Their innovation not only drives us forward, it drives economic growth that supports every hardworking Illinoisan.”

    Aether CEO, Conor Madigan, said: “This is an exciting milestone for Aether and a tribute to our R&D experts and our partners at GTI Energy. The aviation and ocean shipping industries need affordable sustainable fuels at scale and the electric Tri-Converter technology is a transformative step forward. It drives critical process simplification and enables cost-efficient feedstock flexibility. When integrated into our Aether Aurora solution we’re making SAF production more scalable and cost effective.”

    GTI Energy’s VP of Carbon Management and Conversion, Don Stevenson, said: “GTI Energy has a long history of pioneering advanced energy solutions, and we’re proud to see technologies incubated in our labs being integrated into solutions for scaling low-emission fuels. Through collaboration with DOE and companies like Aether Fuels, GTI Energy helps unlock the potential of waste carbon streams while creating economically viable fuels solutions for industries.”

    Elie Fayad, Aether’s Senior Director of R&D, noted: “Today’s milestone represents nearly a decade of dedicated innovation and significant R&D investment by GTI Energy and Aether Fuels. The electric Tri-Converter is one of the breakthroughs in our Aether Aurora solution that drastically improves SAF economics and brings large-scale deployment within reach.”

    Aether Aurora is trademarked by Aether Fuels.

    About Aether Fuels

    Aether Fuels is a climate technology company revolutionizing sustainable fuel production to help hard-to-abate industries like aviation and ocean shipping achieve their decarbonization goals. Our breakthrough Aether Aurora™ technology converts waste carbon into drop-in liquid fuels with near-ideal carbon conversion efficiency. The scalable solution addresses the core requirements of next-generation sustainable fuels by increasing production yields and reducing capital costs, while utilizing a diverse range of feedstocks. Founded in 2022 and backed by global investors and partners, we maintain principal offices in the U.S. and Singapore. To learn more, visit www.aetherfuels.com or follow us on LinkedIn.

    About GTI Energy

    GTI Energy is a technology development and training organization. Our trusted team works to scale impactful solutions for energy systems by leveraging gases, liquids, infrastructure, and efficiency. We embrace systems thinking, innovation, and collaboration to develop, scale, and deploy the technologies needed for low-emission, low-cost, and resilient energy systems.

    Contacts

    Aether Fuels Communications  
    Kelsey Duke; Diffusion PR for Aether Fuels;  
    E-mail: AetherFuels@Diffusionpr.com  

    GTI Energy
    Kristin Cone
    E-mail: kcone@gti.energy

    The MIL Network –

    March 27, 2025

  • MIL-OSI Global: Spring statement: defence spending boosted as further disability benefit cuts announced

    Source: The Conversation – UK – By Shampa Roy-Mukherjee, Vice Dean and Professor in Economics, University of East London

    Not even six months on from Labour’s first budget, and the world is a much-changed place. Geopolitical tensions and uncertainties, already high last year, have risen further, and with them the cost of the UK’s debt, while economic growth has stalled. As such, Chancellor Rachel Reeves has confronted an array of unpalatable choices – notably cutting disability benefits – to enable her to increase defence spending and stabilise the public finances. Here’s what our panel of experts made of the statement:

    Falling inflation wasn’t enough to prevent further disability cuts

    Shampa Roy-Mukherjee, Vice Dean and Professor in Economics, University of East London

    The independent Office for Budget Responsibility (OBR) has halved the UK’s 2025 growth forecast to 1%, down from the previously projected 2%. This sluggish growth, coupled with increased borrowing costs, has effectively eliminated the government’s £9.9 billion “fiscal headroom” – its financial buffer – resulting in a £4.1 billion shortfall by 2029-30.

    There was some short-term relief in the latest inflation figures. These showed a slowdown in price rises in February (2.8% against 3% in January). The dip was caused by discounting of items like clothing. But given around half of businesses are considering price rises to combat tax hikes and the national living wage increase coming in April, this relief is likely to be short-lived. The OBR forecasts that inflation will climb back up to 3.2% this year.

    The government had previously set out its controversial plans for £5 billion in welfare cuts. But the OBR rejected the claim that the reforms would save that much, estimating the savings at £3.4 billion, leaving Reeves with a £1.6 billion shortfall. As such, she has had to announce additional welfare reforms.

    These include freezing the universal credit health element until 2030 and reducing it to £50 a week for new claimants. This is aimed at saving an additional £500 million by 2030 – and combined with other planned welfare reforms could affect more than 3 million people. But the standard allowance for universal credit will see an above-inflation increase from 2026-27 and the incomes of those with the most severe lifelong conditions will be protected.

    Civil service administrative budgets are also to be reduced – by 15% by 2029-30. This, along with other efficiency and productivity improvements, will lead to annual savings of £3.5 billion. These cuts will focus on areas like human resources, policy advice, and office management, rather than frontline services.

    The Civil Service could see 10,000 jobs axed.
    pxl.store/Shutterstock

    Reeves resorted to tricks and ‘efficiency savings’

    Steve Schifferes, Honorary Research Fellow, City St George’s, University of London

    Reeves has announced a series of tweaks to her spending plans to address the economic situation which has meant that she is in danger of breaking her self-imposed fiscal rules. The chancellor was at pains to say that these rules are “non-negotiable”.

    But these are unlikely to tackle the deeper problem – that in the short term she cannot rely on economic growth to square the circle of Labour’s three contradictory election pledges. These were more spending on public services, lower taxes and strict fiscal rules.

    The UK, in fact, is particularly vulnerable to the disruption of global trade that is likely to result from US president Donald Trump’s tariff wars. And the productivity gains from her long-term infrastructure plans will take years – if not a decade – to translate into higher growth.

    Like many chancellors, Reeves has resorted to various tricks – such as counting money moved to the defence budget to build tanks and aircraft as capital spending (and therefore exempt from the borrowing rules). And she has called for “efficiency savings” in the civil service and government departments that are unlikely to be realised.

    But the biggest savings are coming from deeper than expected cuts in disability payments and other welfare payments, reducing the income of more than 3 million people. This is upsetting many Labour MPs. Her big sweetener – £2 billion for social housing next year – is actually less than that already allocated by the previous Conservative government.

    Crucially, the further savings likely to be demanded in the spending review (announced on June 11) from unprotected departments including local government, justice and environment, will certainly look a lot like a return to austerity.

    In the end – and possibly as soon as the autumn budget – the chancellor will have to accept that as well as spending cuts, she will have to consider tax increases and possibly even a revision of the fiscal rules.

    Otherwise, she will remain at the mercy of the markets and the forecasters. Any long-term strategy will be strangled by the need to continually adjust policy to meet the fiscal “headroom” target she has set which leaves little room for manoeuvre. This requires an implausibly accurate prediction of the state of the economy in five years’ time by the OBR.

    More reaction to follow shortly.

    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. Spring statement: defence spending boosted as further disability benefit cuts announced – https://theconversation.com/spring-statement-defence-spending-boosted-as-further-disability-benefit-cuts-announced-253149

    MIL OSI – Global Reports –

    March 27, 2025

  • MIL-OSI Global: When Canadian snowbirds don’t flock south, the costs are more than financial

    Source: The Conversation – Canada – By Valorie A. Crooks, Professor, Department of Geography, Simon Fraser University

    Every winter, hundreds of thousands of older Canadians spend the winter in the United States. But in recent weeks, we’ve seen many Canadian snowbirds shifting their attention to other matters.

    First, stories started to emerge from those who said they would no longer participate in this seasonal migration because of political events in the U.S. Another related concern was the weakened Canadian dollar. This trend has prompted some to consider selling their winter properties in the U.S.

    More recently, attention has shifted to the potential for changed border rules to lessen snowbirds’ access to the U.S. for long stays. Snowbirds are concerned about administrative and procedural requirements that may ultimately make cross-border travel less convenient.

    During the COVID-19 pandemic, some Canadian snowbirds experienced challenges crossing into the U.S. for the winter or returning to Canada. Closures of borders to non-essential travel did not dissuade some from planning to winter in the U.S.

    Drawing on research in snowbird communities, we found out that affordability and ease of movement are two important enablers of long-stay seasonal travel.

    Because of this, it’s not surprising that we’re hearing from snowbirds again in light of recent developments.

    CBC News reports on Québec snowbirds reaction to the Donald Trump administration’s new measures for travellers to the U.S.

    Economic and political disruptions

    While COVID-era travel disruptions didn’t stop some snowbirds from going south for the winter, the current economic and political disruptions are another story. Florida is a popular destination for Canadian snowbirds. In fact, a 2023 survey named eight of the 10 best American destination communities as being in Florida.

    If Canadian snowbirds are talking about cancelling travel plans and selling properties, people in Florida should be paying attention.

    Instead, in early March, Florida Gov. Ron DeSantis downplayed what it would mean for Canadians to avoid travel to the state. Citing a recent tourism industry report, he noted that only 3.3 million of the 142.9 million visitors to Florida in 2024 were from Canada.

    DeSantis went on to say “that’s not much of a boycott, in my book.” But 91.5 per cent of Florida’s annual visitors were from the U.S. This means that the 2.3 per cent of visitors who were Canadian were actually a substantial portion of the states’s international visitors.

    DeSantis’s recent comments were also not in line with concerns raised during the COVID-19 pandemic that signalled substantial negative economic impacts for the state if Canadian snowbirds did not arrive for the winter.

    Community members

    Aside from these economic impacts, something we’ve learned through our years of research with Canadians who winter in the U.S. is that many become vital members of destination communities. From participating in public health outreach programs to volunteering at local hospitals, our research has shown that many embrace opportunities to be active in the places they reside for the winter.

    Any drop in the numbers of seasonal travellers going to U.S. destinations will have social costs for communities beyond the quantifiable economic losses.

    Many popular U.S. destination communities for snowbirds have health systems that are designed to expand and retract with dramatically different seasonal populations. Our research has observed this most closely in Yuma, Ariz., where entire areas of the main local hospital are closed in the summer and staffed seasonally in the winter.

    Additionally, some of the seasonal nursing staff who arrive for the winter are from Canada. Any retreat from these destinations by Canadian snowbirds may have significant implications for health systems and allied sectors. This can ultimately impact the quality of care they can provide to a more limited local patient base.

    Intangible impacts

    While the economic impacts of the seeming loss of long-stay older Canadians in these communities are important to consider, there will be other — less measurable but no less important — impacts. Just as the long friendship between the U.S. and Canada is now being tested, blended snowbird communities of older North Americans are at risk of diminishing.

    Business owners in U.S. destinations spoke up about losses when fewer Canadian snowbirds went south during the COVID-19 pandemic. Some Canadian business sectors and communities discovered opportunities emerging from these shifts in consumer’ movements.

    As snowbirds debate whether to navigate new border complexities and return to the U.S. next winter, we must be attentive to the stories behind the numbers to understand the true impacts of their decisions. And as comments made by DeSantis and other politicians have made clear, Canadian snowbirds are now faced with new economic and emotional considerations.

    Valorie A. receives funding from the Canadian Institutes of Health Research, Social Science and Humanities Research Council of Canada, BC Women’s Health Research Institute and MITACS.

    Jeremy Snyder receives funding from the Social Sciences and Humanities Research Council of Canada and the Canadian Institutes of Health Research.

    – ref. When Canadian snowbirds don’t flock south, the costs are more than financial – https://theconversation.com/when-canadian-snowbirds-dont-flock-south-the-costs-are-more-than-financial-252125

    MIL OSI – Global Reports –

    March 27, 2025

  • MIL-OSI Global: Trump’s push for AI deregulation could put financial markets at risk

    Source: The Conversation – Canada – By Sana Ramzan, Assistant Professor in Business, University Canada West

    As Canada moves toward stronger AI regulation with the proposed Artificial Intelligence and Data Act (AIDA), its southern neighbour appears to be taking the opposite approach.

    AIDA, part of Bill C-27, aims to establish a regulatory framework to improve AI transparency, accountability and oversight in Canada, although some experts have argued it doesn’t go far enough.

    Meanwhile, United States President Donald Trump’s is pushing for AI deregulation. In January, Trump signed an executive order aimed at eliminating any perceived regulatory barriers to “American AI innovation.” The executive order replaced former president Joe Biden’s prior executive order on AI.



    Read more:
    How the US threw out any concerns about AI safety within days of Donald Trump coming to office

    Notably, the U.S. was also one of two countries — along with the U.K. — that didn’t sign a global declaration in February to ensure AI is “open, inclusive, transparent, ethical, safe, secure and trustworthy.”

    Eliminating AI safeguards leaves financial institutions vulnerable. This vulnerability can increase uncertainty and, in a worst-case scenario, increase the risk of systemic collapse.



    Read more:
    The Paris summit marks a tipping point on AI’s safety and sustainability

    The power of AI in financial markets

    AI’s potential in financial markets is undeniable. It can improve operational efficiency, perform real-time risk assessments, generate higher income and forecast predictive economic change.

    My research has found that AI-driven machine learning models not only outperform conventional approaches in identifying financial statement fraud, but also in detecting abnormalities quickly and effectively. In other words, AI can catch signs of financial mismanagement before they spiral into a disaster.

    In another study, my co-researcher and I found that AI models like artificial neural networks and classification and regression trees can predict financial distress with remarkable accuracy.

    Artificial neural networks are brain-inspired algorithms. Similar to how our brain sends messages through neurons to perform actions, these neural networks process information through layers of interconnected “artificial neurons,” learning patterns from data to make predictions.

    Similarly, classification and regression trees are decision-making models that divide data into branches based on important features to identify outcomes.

    Our artificial neural networks models predicted financial distress among Toronto Stock Exchange-listed companies with a staggering 98 per cent accuracy. This suggests suggests AI’s immense potential in providing early warning signals that could help avert financial downturns before they start.

    However, while AI can simplify manual processes and lower financial risks, it can also introduce vulnerabilities that, if left unchecked, could pose significant threats to economic stability.

    The risks of deregulation

    Trump’s push for deregulation could result in Wall Street and other major financial institutions gaining significant power over AI-driven decision-making tools with little to no oversight.

    When profit-driven AI models operate without the appropriate ethical boundaries, the consequences could be severe. Unchecked algorithms, especially in credit evaluation and trading, could worsen economic inequality and generate systematic financial risks that traditional regulatory frameworks cannot detect.

    Algorithms trained on biased or incomplete data may reinforce discriminatory lending practices. In lending, for instance, biased AI algorithms can deny loans to marginalized groups, widening wealth and inequality gaps.

    In addition, AI-powered trading bots, which are capable of executing rapid transactions, could trigger flash crashes in seconds, disrupting financial markets before regulators have time to respond. The flash crash of 2010 is a prime example where high-frequency trading algorithms aggressively reacted to market signals causing the Dow Jones Industrial Average to drop by 998.5 points in a matter of minutes.

    Furthermore, unregulated AI-driven risk models might overlook economic warning signals, resulting in substantial errors in monetary control and fiscal policy.

    Striking a balance between innovation and safety depends on the ability for regulators and policymakers to reduce AI hazards. While considering financial crisis of 2008, many risk models — earlier forms of AI — were wrong to anticipate a national housing market crash, which led regulators and financial institutions astray and exacerbated the crisis.

    A blueprint for financial stability

    My research underscores the importance of integrating machine learning methods within strong regulatory systems to improve financial oversight, fraud detection and prevention.

    Durable and reasonable regulatory frameworks are required to turn AI from a potential disruptor into a stabilizing force. By implementing policies that prioritize transparency and accountability, policymakers can maximize the advantages of AI while lowering the risks associated with it.

    A federally regulated AI oversight body in the U.S. could serve as an arbitrator, just like Canada’s Digital Charter Implementation Act of 2022 proposes the establishment of an AI and Data Commissioner. Operating with checks and balances inherent to democratic structures would ensure fairness in financial algorithms and stop biased lending policies and concealed market manipulation.

    Financial institutions would be required to open the “black box” of AI-driven alternatives by mandating transparency through explainable AI standards — guidelines that are aimed at making AI systems’ outputs more understandable and transparent to humans.

    Machine learning’s predictive capabilities could help regulators identify financial crises in real-time using early warning signs — similar to the model developed by my co-researcher and me in our study.

    However, this vision doesn’t end at national borders. Globally, the International Monetary Fund and the Financial Stability Board could establish AI ethical standards to curb cross-border financial misconduct.

    Crisis prevention or catalyst?

    Will AI still be the key to foresee and stop the next economic crisis, or will the lack of regulatory oversight cause a financial disaster? As financial institutions continue adopt AI-driven models, the absence of strong regulatory guardrails raises pressing concerns.

    Without proper safeguards in place, AI is not just a tool for economic prediction — it could become an unpredictable force capable of accelerating the next financial crisis.

    The stakes are high. Policymakers must act swiftly to regulate the increasing impact of AI before deregulation opens the path for an economic disaster.

    Without decisive action, the rapid adoption of AI in finance could outpace regulatory efforts, leaving economies vulnerable to unforeseen risks and potentially setting the stage for another global financial crisis.

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

    – ref. Trump’s push for AI deregulation could put financial markets at risk – https://theconversation.com/trumps-push-for-ai-deregulation-could-put-financial-markets-at-risk-251208

    MIL OSI – Global Reports –

    March 27, 2025

  • MIL-OSI United Nations: Secretary-General Urges Developed Countries to Double Annual Climate Adaptation Finance to $40 Billion

    Source: United Nations MIL OSI b

    Following are UN Secretary-General António Guterres’ remarks to the virtual high-level segment of the Sixteenth Petersberg Climate Dialogue, held in New York today:

    Thank you for this opportunity — and for your focus today on collective climate action and acceleration of implementation.  This could not be more timely.  There is much uncertainty and instability in our world. But, today, we meet in the wake of some good news.

    Just this morning, the International Renewable Energy Agency (IRENA) officially confirmed that 2024 was a record year for renewables additions to global power capacity.  Renewables represented more than 92 per cent of all new electricity-generation capacity installed last year.

    The amount of renewables added represents more than the total electricity capacity of Brazil and Japan combined.  Europe’s capacity grew by 9 per cent — with Germany contributing more than one quarter of that growth.  Africa’s capacity grew by almost 7 per cent.

    All of this is another reminder of a twenty-first century truth:  Renewables are renewing economies.  They are powering growth, creating jobs, lowering energy bills and cleaning our air. And every day, they become an even smarter investment.

    Since 2010, the average cost of wind power has plunged 60 per cent.  Solar is 90 per cent cheaper.  In 2023, clean energy sectors accounted for 5 per cent of economic growth in India and 6 [per cent] in the United States.  It accounted for a fifth of China’s GDP [gross domestic product] growth, and a third of the European Union’s.

    The economic case for — and opportunities of — climate action have become ever clearer — particularly for those who choose to lead. And leadership is what we need — as today’s IRENA report shows:

    To accelerate the shift to renewables and to correct the imbalances in the transition, which is still starving developing countries — outside China — of the investment needed to fully embrace clean energy.

    As the title of this session puts it so well:  we are indeed at a turning point to the future. In the 10 years since Paris, we have seen other important progress.  Ninety per cent of global emissions are now covered by net-zero targets.

    A decade ago, the planet was on course for a global temperature rise of over 4°C.  Today, countries’ national climate plans — or NDCs [nationally determined contributions] — if fully delivered — will take us closer to a 2.6°C rise.

    At the same time, climate challenges are piling up.  It seems records are shattered at every turn — the hottest day of the hottest month of the hottest year of the hottest decade ever.

    All of this is hitting the vulnerable hardest, and everyday people in their pockets — with higher living costs, higher insurance premiums and higher food prices.  Just last week, the World Meteorological Organization (WMO) confirmed that 2024 was another alarming year.

    Almost every climate indicator reached new and increasingly dangerous heights — inflaming displacement and food insecurity and inflicting huge economic losses.  And for the first time, the annual global temperature was 1.5°C hotter than pre-industrial times.

    Scientists are clear:  it is still possible to meet the long-term 1.5°C limit.  But, it requires urgent action.  And it requires leadership. I see two critical fronts to drive action.

    First, new national climate plans — or NDCs — due by September.  Investors need certainty and predictability.  These new plans are a unique opportunity to deliver and lay out a coherent vision for a just green transition.  They must align with the 1.5°C limit, as agreed at COP28 [twenty-eighth Conference of the Parties to the United Nations Framework Convention on Climate Change].  And cover all emissions and the whole economy.

    Together, they must reduce global emissions 60 per cent by 2035 compared to 2019 and contribute to the COP28 global energy transition goals.

    All this must be achieved in line with the principle of common but differentiated responsibilities and respective capabilities, in the light of national circumstances but everybody, everybody must do more.  The Group of 20 (G20) — the largest emitters and economies — must lead.

    Every country must step up and play their part.  The United Nations is with you all.  President Lula and I are working to secure the highest ambition from the largest economies.

    The United Nations Climate Promise is supporting 100 countries to prepare their new climate plans.  And we will convene a special event in September to take stock of the plans of all countries, push for action to keep 1.5°C within reach, and deliver climate justice.

    Second, we must drive finance to developing countries.  The COP29 finance agreement must be implemented in full.  I count on the leadership of the COP29 and COP30 presidencies to deliver a credible road map to mobilize $1.3 trillion a year by 2035.

    We need new and innovative sources of financing, and credible carbon pricing.  Developed countries must honour their promise to double adaptation finance to at least $40 billion a year, by this year.

    And we need serious contributions to the fund for responding to loss and damage, and to get it up and running.

    We can only meet these goals with stronger collaboration between Governments, and across society and sectors.  Those that will lag behind need to be not a reason for us to be discouraged, but an increase in our commitment to move forward.

    The rewards are there for the taking, for all those ready and willing to lead the world through these troubled times.  We are at a turning point.  I urge you to seize this moment; and seize the prize.

    MIL OSI United Nations News –

    March 27, 2025

  • MIL-OSI: Truxton Wealth Strengthens Advisory Team with Key Promotions

    Source: GlobeNewswire (MIL-OSI)

    NASHVILLE, Tenn., March 26, 2025 (GLOBE NEWSWIRE) — Truxton is pleased to announce that Susan Ney, CTFA has been promoted to the role of Senior Vice President, Senior Wealth Advisor and Laura Frith has been promoted to the role of Associate Wealth Advisor.

    Ms. Ney joined Truxton in 2014 as a Wealth Management Specialist, supporting the entire wealth management team and its clients, until 2018 when she became a Wealth Advisor. She is responsible for monitoring clients’ investment strategies, trust and estate administration, tax, estate, and retirement planning, and coordinating efforts of other professional advisors both internal and external to Truxton. She also holds the Certified Trust and Financial Advisor (CTFA) designation and is a member of the Middle Tennessee Estate Planning Council.

    “Susan’s promotion reflects her strong professional aptitude, intense energy, and passion for driving improved client outcomes,” said Drew Mallory, CFA, Senior Managing Director and Chief Fiduciary Officer.  “Susan has set a very high standard for delivering Truxton’s value proposition to our clients with sophisticated needs.  Her dedication and commitment to our clients is remarkable.”

    Mrs. Frith joined Truxton in 2024 as a Wealth Associate, where she supported the wealth management team and served as a liaison between clients and wealth advisors. In her new role as Associate Wealth Advisor, she will assist in trust and estate administration, tax, estate, and retirement planning, and coordinating efforts of other professional advisors both internal and external to Truxton.

    “Laura is an exceptional professional, excelling in advanced wealth planning and managing client relationships,” said Spence Dabbs, JD, Managing Director and Senior Wealth Advisor. “Her dedication and skills enhance our team’s ability to deliver bespoke advisory solutions. We have high confidence in her continued success.”

    About Truxton
    Truxton is a premier provider of wealth, banking, and family office services for wealthy individuals, their families, and their business interests. Serving clients across the world, Truxton’s vastly experienced team of professionals provides customized solutions to its clients’ complex financial needs. Founded in 2004 in Nashville, Tennessee, Truxton upholds its original guiding principle: do the right thing. Truxton Trust Company is a subsidiary of financial holding company, Truxton Corporation (OTCPK: TRUX). For more information, visit truxtontrust.com.

    The MIL Network –

    March 27, 2025

  • MIL-OSI: Paperclip joins forces with White Swan to Streamline and Digitize the Insurance Sales Process with Seamless Data Integration

    Source: GlobeNewswire (MIL-OSI)

    HACKENSACK, N.J., March 26, 2025 (GLOBE NEWSWIRE) — Paperclip (OTCMKTS:PCPJ), a publicly traded leader in insurance data management and automation, has announced a strategic integration with White Swan, an AI-powered, no-code platform transforming insurance distribution. This partnership enhances insurance application processing, data workflows, and multi-carrier submissions, reducing administrative friction for agents and financial services firms.

    Through this collaboration, Paperclip’s Mojo—a cutting-edge solution for processing and automating insurance data management—now seamlessly connects with White Swan’s AI-powered sales platform, bringing together the best in data automation and modernized insurance distribution.

    “At Paperclip, we’re committed to modernizing insurance workflows through automation and intelligent data management,” said Bill Weiss, CEO at Paperclip. “Partnering with White Swan expands the impact of our technology, bringing seamless front-end digital distribution to our industry-leading back-end automation.”

    This integration enables:

    • Seamless, data-driven insurance sales – White Swan’s marketing, education, and quoting tools help advisors engage clients, while Paperclip ensures structured, accurate data processing throughout the application journey.
    • Faster, more efficient application workflows – White Swan enables a frictionless digital application process, while Paperclip automates document structuring and carrier submissions, reducing administrative efforts.
    • Integrated with major agency management systems (AMS) – Paperclip ensures smooth data flow to AMS platforms like iPipeline, AgencyBloc, SmartOffice, Salesforce, Agency Integrator, and NetX360.
    • Compliance-ready and scalable – White Swan’s intelligent application system ensures a pleasant client experience, while Paperclip automates processing, compliance, and secure document handling for long-term scalability.

    “White Swan’s mission is to make insurance sales frictionless,” said Pontus Lagerberg, CEO at White Swan. “By integrating with Paperclip, we’re ensuring that the digital experience we provide advisors is backed by powerful automation that simplifies data handling, compliance, and carrier submissions.”

    By bridging AI-powered digital distribution with Paperclip’s industry-leading data infrastructure, this integration simplifies insurance sales while ensuring compliance, accuracy, and scalability.

    Learn more about how this integration is empowering financial professionals, streamlining insurance sales, and shaping the future of the industry by visiting https://paperclip.com/white-swan-paperclip/ or https://www.whiteswan.io/integrations/paperclip.

    About Paperclip
    With over three decades of customer-centric innovation, Paperclip is a proven strategic partner that continues to revolutionize data encryption, content supply chain, and document management for Fortune 1000 companies worldwide. Paperclip’s innovative solutions—such as Mojo, Virtual Client Folder (VCF), and SAFE—have helped the financial and insurance industries automate compliance, streamline carrier submissions, and optimize data processing. Paperclip’s technology is trusted by insurance carriers, agencies, and financial institutions to securely manage documents and drive operational efficiency.
    As a trusted leader, Paperclip continues to innovate, adapt and excel within a rapidly changing digital world. Learn more at www.paperclip.com.

    About White Swan 
    White Swan is an AI-enabled platform that serves as a comprehensive B2B life & LTC insurance solution, designed to simplify insurance automation and sales digitization for businesses and advisors. Through its no-code tools, intuitive client journeys, and seamless partner integrations and white labeling options, White Swan helps businesses serve their clients insurance online with modules to help them research, quote, and apply for insurance. 

    Media Contact:

    PAPERCLIP
    Megan Brandow
    Director of Marketing
    www.paperclip.com
    (585) 727-0983
    mbrandow@paperclip.com

    WHITE SWAN
    Pontus Lagerberg
    Founder & CEO at White Swan
    https://whiteswan.io
    United States
    pontus@whiteswan.io

    The MIL Network –

    March 27, 2025

  • MIL-OSI: Resolutions of Annual General Meeting of LHV Group

    Source: GlobeNewswire (MIL-OSI)

    The Annual General Meeting of Shareholders of AS LHV Group (LHV Group) was held on 26 March 2025 at Hilton Tallinn Park Hotel. It was possible to participate in the meeting in person or electronically.

    A total of 1,192 shareholders participated in the meeting, representing a total of 215,268,277 votes, which corresponds to 66.40% of all votes entitled to participate in the meeting.

    Of the participants 1,102 shareholders, representing a total of 131,820,583 votes, voted before the meeting according to the procedure for pre-voting and electronic participation published with the notice on calling the meeting.

    The notice on calling the Annual General Meeting was published in the stock exchange information system and on the Group’s website on 4 March 2025. On the same date, the notice was printed in Postimees daily newspaper.

    The Annual General Meeting of the Shareholders of LHV Group adopted the following resolutions:

    1. Annual Report 2024

    Approve the Annual Report of LHV Group for the financial year 2024 as submitted to the General Meeting.

    In favour: 194,709,108 votes (90.45% of the represented votes)
    Opposed: 472,672 votes (0.22% of the represented votes)
    Neutral: 16,304 votes (0.01% of the represented votes)
    Withheld: 20,070,193 votes (9.32% of the represented votes)

    2. Profit Distribution for Financial Year 2024

    The consolidated net profit attributable to LHV Group as the parent company of the consolidation group in the financial year 2024 amounts to EUR 152,405 thousand. Transfer EUR 0 to the legal reserve. Approve the profit allocation proposal made by the Management Board and pay dividends in the net amount of 9 euro cents per share. The list of shareholders entitled to receive dividends will be established as at on 9 April 2025 EOD of Nasdaq CSD settlement system. Consequently, the day of change of the rights related to the shares (ex-dividend date) is set to 8 April 2025. From this day onwards, the person acquiring the shares will not have the right to receive dividends for the financial year 2024. Dividends shall be disbursed to the shareholders on 10 April 2025.

    In favour: 210,519,615 votes (97.79% of the represented votes)
    Opposed: 25,761 votes (0.01% of the represented votes)
    Neutral: 8,061 votes (0.00% of the represented votes)
    Withheld: 4,714,840 votes (2.19% of the represented votes)

    3. Financial Results of First Two Months of 2025

    An overview of the economic results of LHV Group for the first two months of 2025 was given by the CEO of LHV Group.

    4. Five-Year Financial Forecast

    An overview of the five-year financial forecast of LHV Group was given by the CEO of LHV Group.

    5. Amendments to 2020–2024 Share Option Program

    Approve the amendments of LHV Group’s 2020–2024 share option program as presented to the General Meeting and authorize LHV Group’s Supervisory Board to implement the 2020–2024 share option program in accordance with the program’s terms.

    In favour: 206,661,208 votes (96.00% of the represented votes)
    Opposed: 1,170,927 votes (0.54% of the represented votes)
    Neutral: 655,451 votes (0.30% of the represented votes)
    Withheld: 6,780,691 votes (3.15% of the represented votes)

    6. 2025–2029 Share Option Program

    Approve LHV Group’s 2025–2029 share option program as presented to the General Meeting and authorize LHV Group’s Supervisory Board to implement the 2025–2029 share option program in accordance with the program’s terms.

    In favour: 200,680,460 votes (93,22% of the represented votes)
    Opposed: 1,173,460 votes (0.55% of the represented votes)
    Neutral: 978,108 votes (0.45% of the represented votes)
    Withheld: 12,436,249 votes (5.78% of the represented votes)

    7. Conditions of Performance Pay

    As of 1 January 2026, to prospectively raise for the next five (5) years, i.e., for the period of the 2025–2029 share option program, the percentage of performance pay payable to the management members and equivalent staff of LHV Group and its group companies up to two hundred percent (200%) of their basic salary in accordance with the rationale presented to the General Meeting.

    In favour: 199,828,946 votes (92.83% of the represented votes)
    Opposed: 3,299,238 votes (1.53% of the represented votes)
    Neutral: 376,838 votes (0.18% of the represented votes)
    Withheld: 11,763,255 votes (5.46% of the represented votes)

    8. Acquisition of Own Shares

    Approve the acquisition of LHV Group’s own shares under the following conditions:

    • The purpose of acquiring own shares is to create value for shareholders by using the acquired shares for the execution of applicable General Meeting’s approved share option programs.
    • The acquisition shall be executed within a period of up to five (5) years from the adoption of this resolution. The acquisitions may take place in one or multiple transactions within thirteen (13) months from each LHV Group’s Supervisory Board decision to execute the acquisition of own shares.
    • LHV Group is entitled to acquire a maximum of its own shares necessary for fulfilling the commitments arising from the General Meeting’s approved share option programs. The acquisition may take place in portions corresponding to the required volume for a single year, multiple years, or the full duration of the applicable share option programs. This resolution shall also apply if the shareholders approve amendments to the share option programs that affect the acquisition volume. In any case, the total nominal value of the shares owned by LHV Group does not exceed 1/10 of the share capital.
    • The price per share to be paid for own shares shall be no less than EUR 0.00 and must not exceed the closing price of the Nasdaq Tallinn Stock Exchange on the previous trading day, as determined before the execution date of each respective acquisition (or the date of announcement of the execution of the acquisition). The purchase price per share shall not exceed the average market price of the last 30 trading days by more than fifty percent (50%). The acquisition of shares shall be executed under market conditions in accordance with the rules of Nasdaq Tallinn Stock Exchange.
    • The acquisition of own shares must not cause the net assets to become less than the total of share capital and reserves which pursuant to law or the Articles of Association shall not be paid out to shareholders.

    Authorize LHV Group’s Supervisory Board, in accordance with this resolution, applicable legislation and the General Meeting’s approved share option programs, to decide and execute own shares acquisitions, determine the acquisition price, procedure, and other conditions, and to carry out all necessary actions related to the own shares acquisition. The Supervisory Board may delegate technical and procedural tasks related to the execution of the acquisition to the Management Board. The execution of the own shares acquisition shall be conditional upon the European Central Bank’s consent.

    In favor: 202,399,668 votes (94.02% of the represented votes)
    Opposed: 1,164,099 votes (0.54% of the represented votes)
    Neutral: 236,684 votes (0.11% of the represented votes)
    Withheld: 11,467,826 votes (5.33% of the represented votes)

    9. Amendments to Articles of Association

    Approve the new redaction of the Articles of Association of LHV Group, thereby amending clauses 4.1.5 and 4.1.6. with the following wording:
    “4.1.5.    The Supervisory Board has set up the Audit Committee, the Risk and Capital Committee, the Nomination Committee and the Remuneration Committee and established the relevant terms of reference.”
    “4.1.6. The Supervisory Board shall be authorized, for a period of 3 (three) years from the entry into force of this version of the Articles of Association, to increase the share capital through contributions 1 (once) per year by up to 2% (two percent) of the share capital as valid at the time of the respective resolution. If the full 2% (two percent) limit has not been used in previous years, the unused portion may be carried forward within the authorization period. However, if the limit has been fully utilized, the increase in any following year shall not exceed 2% (two percent).”

    In favour: 202,252,123 votes (93.95% of the represented votes)
    Opposed: 14,450 votes (0.01% of the represented votes)
    Neutral: 1,085,252 votes (0.50% of the represented votes)
    Withheld: 11,916,452 votes (5.54% of the represented votes)

    All relevant documents associated with the Group’s General Meeting (including the notice on calling the General Meeting, draft resolutions, LHV Group’s annual report for 2024, including the independent auditor’s report, proposal for the profit distribution, the remuneration report, the Supervisory Board’s report on its activities and assessment of the 2024 annual report and proposals for approving of the terms of performance pay, LHV Group’s share option programs and LHV Group’s Articles of Association) have been presented in more detail on the Group’s website (https://investor.lhv.ee/en/general-meetings/#26.03.2025) where the minutes of the meeting shall also be made available at the latest 7 days after the General Meeting.

    LHV Group is the largest domestic financial group and capital provider in Estonia. The main subsidiaries of LHV Group are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs more than 1,160 people. As at the end of February, the banking services of LHV are used by 462,000 clients, the pension funds managed by LHV have 113,000 active clients, and LHV Kindlustus protects a total of 174,000 clients. LHV Bank, a subsidiary of the Group, holds a UK banking licence and offers banking services to international fintech companies and loans to small and medium-sized enterprises.

    Priit Rum
    Communications Manager
    Phone: +372 502 0786
    Email: priit.rum@lhv.ee 

    The MIL Network –

    March 27, 2025

  • MIL-OSI: Resolutions from Tryg A/S’ annual general meeting 2025 (AGM)

    Source: GlobeNewswire (MIL-OSI)

    Tryg’s annual general meeting was held today. At the AGM, the shareholders adopted the report of the group’s activities in the financial year 2024.

    The annual meeting also approved the following items:

    • Tryg’s annual report 2024, including the resolution on discharge of the Executive Board and the Supervisory Board.
    • Resolution to distribution of profits in accordance with the approved annual report as the profit for the year DKK 4,742m is transferred to the equity.
    • The remuneration report for 2024.
    • The remuneration for the Supervisory Board for 2025 including the fees to members of the Supervisory Board committees.
    • Decision on reduction of share capital by a nominal amount of DKK 25,088,935
    • The proposed decrease and extension of the existing authorisation to the Supervisory Board under Article 8 of the Articles of Association to increase the share capital by means of issuing new shares at a total nominal value of DKK 300,000,000 until 26 March 2030.
    • The proposed decrease and extension of the existing authorisation to the Supervisory Board under Article 9 of the Articles of Association to increase the share capital by means of issuing new shares at a total nominal value of DKK 30.000.000 until 26 March 2030.
    • The proposed decrease and extension of the existing authorisation to the Supervisory Board to acquire own shares at a total nominal value of 300,000,000 DKK until 31 December 2026.
    • Adjustment of the decision on indemnification
    • Approval of the remuneration policy.
    • Expanding the number of members of the Supervisory Board
    • Ten members of the Supervisory Board were elected:
      • Jukka Pertola (independent)
      • Carl-Viggo Östlund (independent)
      • Mengmeng Du (independent)
      • Thomas Hofman-Bang (independent)
      • Steffen Kragh (independent)
      • Benedicte Bakke Agerup (independent)
      • Jørn Rise Andersen
      • Anne Kaltoft
      • Torben Jensen
      • Jonas Bjørn Jensen

    After the annual general meeting, the Supervisory Board elected Jukka Pertola as Chairman and Steffen Kragh as Deputy Chairman.
    Employees have elected the following five members to the Supervisory Board:

    • Elias Bakk
    • Charlotte Dietzer
    • Lena Darin
    • Tina Snejbjerg
    • Mette Osvold
    • PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab was elected as Tryg’s auditor for financial and sustainability reporting.

    The Articles of Association, the remuneration report for 2024 and the remuneration policy for Tryg can be downloaded at tryg.com.

    Attachment

    • AGM_Resolutions from Tryg AS’ annual general meeting 2025

    The MIL Network –

    March 27, 2025

  • MIL-OSI United Nations: Secretary-General’s remarks to the Informal Interactive Dialogue on the Implementation of the Pact for the Future [bilingual, as delivered; scroll down for all-English version]

    Source: United Nations secretary general

    Mr. President of the General Assembly, Excellencies, Ladies and Gentlemen,

    I thank the President of the General Assembly for convening this important dialogue — the first of three in the coming months. 

    From day one of the Pact for the Future’s adoption, the President has been its active champion.

    I deeply appreciate your efforts, Mr. President, and your leadership.

    Excellencies,

    Adopting the Pact was the beginning of the process, not the end. 

    Today I want to focus on what we have done over the last six months — and what we need to do.

    We face a long list of challenges.  

    Conflicts and climate disasters are intensifying.  

    The Sustainable Development Goals are far off-track — as is the funding required to achieve them.

    Geopolitical divisions and mistrust are blocking effective action, with some actively questioning the value of international cooperation and the multilateral system itself.

    But let me be very clear.  It is exactly because of these divides and these mistrusts that the Pact for the Future and the two parallel documents are more important than ever.  And the bigger the obstacle, the bigger will be my determination to make things move forward in line with the will expressed by Member States in the Summit of the Future.

    Meanwhile, critical funding is being drastically cut for people in desperate need — with more reductions to come.

    Resources are shrinking across the board — and they have been for a long time. 

    From day one of my mandate, we embarked on an ambitious agenda to become more effective and cost-effective across our organization.

    Earlier this month, I announced the “UN80” initiative to continue this work and intensify it.

    We’re reviewing efficiencies and improvements to current arrangements, the implementation of mandates handed down by Member States, and structural changes and programme realignment.

    All these will contribute for a more effective implementation of the Pact for the Future.

    Excellencies,

    We’ve wasted no time moving into the implementation phase of the Pact.

    From an operational perspective, we established a principal-level steering committee — which I chair — overseeing six working groups focused on action and reforms in key areas:

    Sustainable Development Goals acceleration…peace and security… international financial architecture…digital technologies…UN governance…and youth.

    We’ve created two task teams focusing on future generations and the need to look beyond GDP as a measure of progress and guide to policy-making. 

    And we’re establishing an internal tracking system to monitor our progress on Pact implementation.

    Today, I’d like to report on our efforts since the Pact was adopted, and outline the work ahead in four areas.

    First — peace and security.

    United Nations peace operations help safeguard people and communities in some of the most desperate corners of the world. 

    The Pact represents a commitment to strengthen tools to prevent and address conflict, to ensure that our peace efforts respond to new and emerging threats.

    In November, I issued a report on peacebuilding which included concrete suggestions to strengthen the Peacebuilding Commission and Fund. 

    We’re actively working on the second independent progress study on the positive contribution of young people to peace processes.  

    And we’re progressing on a review of all forms of Peace Operations — as requested in the Pact. 

    Our recent proposals to the Security Council regarding Haiti are a case in point where new approaches can be developed to complex security challenges.

    The review will be an opportunity to help adapt peace operations to today’s realities, and ensure they’re guided by clear and sequenced mandates that are realistic and achievable — with viable exit strategies and transition plans.

    It will also recognize the limitations of our operations where there is little or no peace to keep.

    We will also continue pushing forward on other peace-related priorities of the Pact — including disarmament commitments around nuclear, biological and chemical weapons, lethal autonomous weapons and the growing weaponization of outer space.

    And we will continue advocating — including through the intergovernmental negotiations process — for the Pact’s call to make the Security Council more representative of today’s world and more effective in the capacity to promote peace in the world.

    Second — finance for development.

    Since the Pact’s adoption, we’ve taken action on several fronts.

    For example, our Resident Coordinators and Country Teams are now mapping out how we can accelerate progress at the national levels in close cooperation with the Governments.

    We’ve begun analyzing the impact of military expenditure on the achievement of the SDGs and on our own work at the UN — with a final report out by September.

    The Expert Group called for in the Pact to develop measures of progress that go beyond Gross Domestic Product will soon be announced, and will work throughout the year before an inter-governmental process takes over in 2026.

    And we’ve been working closely with the World Bank and the IMF to follow-up on the Pact’s action points addressing improvements to the international financial system.

    Developing countries must be represented fairly in the governance of the very institutions they depend on.

    We know the environment is not favourable.

    But we must not give up.

    Since the Pact’s adoption, I have also established an expert group to identify practical steps for action on debt.

    In the coming weeks, they will propose a list of achievable outcomes — and release a full report in June in advance of the Financing for Development Conference in Spain.

    Debt relief is a central issue if we want the implementation and the Pact for the Future a reality.

    At the same time, we will continue advocating to increase the lending capacity of Multilateral Development Banks, to make them bigger and bolder.

    This includes both stretching their balance sheets and recapitalization.

    And we must ensure that concessional finance is deployed where it is most needed.

    Many of these actions depend on decisions of other multilateral institutions and of Member States, but we will not relent in our constant advocacy for what the Pact for the Future has clearly indicated as the way to pursue.

    Three — youth and future generations 

    Our efforts must deliver for young people and the generations to come. 

    The Pact’s central promise to young people is to listen to their concerns and ideas, and including them at the decision-making table.

    Following the establishment of a UN Youth Office in 2022, young people played a key role in shaping the Pact’s priorities.

    With the Pact’s adoption, we’re now progressing towards establishing a Youth Investment Platform to ensure that national funding mechanisms and investment platforms are focused on the needs of young people.

    And we’re developing core principles to strengthen youth engagement across our work at the United Nations — including by broadening the representation of younger colleagues within our organizational structures.

    Through the Declaration on Future Generations, we’re also looking to the generations yet to be born.

    We’ve established a Strategic Foresight Network and Community of Practice, to ensure our policies, programmes and field operations are based on long-term thinking.

    And later this year, I will appoint a Special Envoy for Future Generations to scale up these efforts.

    Quatrièmement : la technologie.

    Nous mettons en œuvre les appels du Pacte mondial pour le numérique pour combler toutes les fractures numériques et veiller à ce que tout le monde puisse bénéficier d’un espace numérique sûr et sécurisé.

    L’intelligence artificielle fait l’objet d’une attention particulière.

    Nous élaborons un rapport sur les options novatrices de financement volontaire qui permettraient de renforcer les capacités en matière d’intelligence artificielle afin d’aider les pays du Sud à exploiter cette technologie au service de l’intérêt général – en tenant compte des recommandations formulées par mon Organe consultatif de haut niveau. 

    Un avant-projet de résolution visant à établir le Groupe scientifique international indépendant sur l’IA et à organiser un Dialogue mondial sur la gouvernance de l’IA a été distribué la semaine dernière – grâce au travail des co-facilitateurs, l’Espagne et le Costa Rica.

    J’invite l’Assemblée générale à agir rapidement pour mettre sur pied ce Groupe et veiller à ce que le savoir-faire et les connaissances en matière d’IA soient mis à la disposition de tous les pays – tout en soutenant le Dialogue mondial.

    L’ensemble du système de l’ONU se tient prêt à soutenir ces travaux.

    Excellences,

    Tout en défendant ces priorités, nous nous attelons par ailleurs à améliorer l’efficience et l’efficacité de nos opérations – comme l’exige le Pacte.

    L’automne dernier, nous avons entrepris une évaluation complète dans l’ensemble des entités de l’ONU afin d’exploiter le potentiel de l’innovation, de l’analyse des données, de la transformation numérique et de la prospective dans l’ensemble de nos travaux – conformément à l’initiative ONU 2.0.

    Les résultats sont déjà au rendez-vous : nous avons par exemple été capable de constater une accélération de l’évaluation des catastrophes dans la région Asie-Pacifique, un renforcement des programmes de sécurité sociale au Malawi, ou encore une consolidation des fonctions relatives à l’informatique dans l’ensemble du système des Nations Unies.

    Ces efforts, où les données sont une question essentielle pour que nous puissions faire une bien meilleure gestion de ces données – ces efforts doivent se poursuivre, en particulier au regard des problèmes de financement auxquels nous devons faire face.

    Nous comptons sur votre soutien pour mener ce travail à bien.

    Excellences,

    Alors que nous œuvrons pour remodeler le système multilatéral et ainsi relever les défis du monde d’aujourd’hui, le Pacte pour l’avenir est un rouage essentiel de ce processus de renouvellement constant.

    Nous ne pouvons pas diluer nos efforts.

    Gardons intact l’esprit et la détermination qui ont permis de forger et d’adopter le Pacte.

    Nous comptons sur vous pour éclairer, inspirer et guider le travail de mise en œuvre à venir.

    Une fois encore, merci pour vos idées et votre engagement.

    ***
    [All-English]

    Mr. President of the General Assembly, Excellencies, Ladies and Gentlemen,

    I thank the President of the General Assembly for convening this important dialogue — the first of three in the coming months. 

    From day one of the Pact for the Future’s adoption, the President has been its active champion.

    I deeply appreciate your efforts, Mr. President, and your leadership.

    Excellencies,

    Adopting the Pact was the beginning of the process, not the end. 

    Today I want to focus on what we have done over the last six months — and what we need to do.

    We face a long list of challenges.  

    Conflicts and climate disasters are intensifying.  

    The Sustainable Development Goals are far off-track — as is the funding required to achieve them.

    Geopolitical divisions and mistrust are blocking effective action, with some actively questioning the value of international cooperation and the multilateral system itself.

    But let me be very clear.  It is exactly because of these divides and these mistrusts that the Pact for the Future and the two parallel documents are more important than ever.  And the bigger the obstacle, the bigger will be my determination to make things move forward in line with the will expressed by Member States in the Summit of the Future.

    Meanwhile, critical funding is being drastically cut for people in desperate need — with more reductions to come.

    Resources are shrinking across the board — and they have been for a long time. 

    From day one of my mandate, we embarked on an ambitious agenda to become more effective and cost-effective across our organization.

    Earlier this month, I announced the “UN80” initiative to continue this work and intensify it.

    We’re reviewing efficiencies and improvements to current arrangements, the implementation of mandates handed down by Member States, and structural changes and programme realignment.

    All these will contribute for a more effective implementation of the Pact for the Future.

    Excellencies,

    We’ve wasted no time moving into the implementation phase of the Pact.

    From an operational perspective, we established a principal-level steering committee — which I chair — overseeing six working groups focused on action and reforms in key areas:

    Sustainable Development Goals acceleration…peace and security… international financial architecture…digital technologies…UN governance…and youth.

    We’ve created two task teams focusing on future generations and the need to look beyond GDP as a measure of progress and guide to policy-making. 

    And we’re establishing an internal tracking system to monitor our progress on Pact implementation.

    Today, I’d like to report on our efforts since the Pact was adopted, and outline the work ahead in four areas.

    First — peace and security.

    United Nations peace operations help safeguard people and communities in some of the most desperate corners of the world. 

    The Pact represents a commitment to strengthen tools to prevent and address conflict, to ensure that our peace efforts respond to new and emerging threats.

    In November, I issued a report on peacebuilding which included concrete suggestions to strengthen the Peacebuilding Commission and Fund. 

    We’re actively working on the second independent progress study on the positive contribution of young people to peace processes.  

    And we’re progressing on a review of all forms of Peace Operations — as requested in the Pact. 

    Our recent proposals to the Security Council regarding Haiti are a case in point where new approaches can be developed to complex security challenges.

    The review will be an opportunity to help adapt peace operations to today’s realities, and ensure they’re guided by clear and sequenced mandates that are realistic and achievable — with viable exit strategies and transition plans.

    It will also recognize the limitations of our operations where there is little or no peace to keep.

    We will also continue pushing forward on other peace-related priorities of the Pact — including disarmament commitments around nuclear, biological and chemical weapons, lethal autonomous weapons and the growing weaponization of outer space.

    And we will continue advocating — including through the intergovernmental negotiations process — for the Pact’s call to make the Security Council more representative of today’s world and more effective in the capacity to promote peace in the world.

    Second — finance for development.

    Since the Pact’s adoption, we’ve taken action on several fronts.

    For example, our Resident Coordinators and Country Teams are now mapping out how we can accelerate progress at the national levels in close cooperation with the Governments.

    We’ve begun analyzing the impact of military expenditure on the achievement of the SDGs and on our own work at the UN — with a final report out by September.

    The Expert Group called for in the Pact to develop measures of progress that go beyond Gross Domestic Product will soon be announced, and will work throughout the year before an inter-governmental process takes over in 2026.

    And we’ve been working closely with the World Bank and the IMF to follow-up on the Pact’s action points addressing improvements to the international financial system.

    Developing countries must be represented fairly in the governance of the very institutions they depend on.

    We know the environment is not favourable.

    But we must not give up.

    Since the Pact’s adoption, I have also established an expert group to identify practical steps for action on debt.

    In the coming weeks, they will propose a list of achievable outcomes — and release a full report in June in advance of the Financing for Development Conference in Spain.

    Debt relief is a central issue if we want the implementation and the Pact for the Future a reality.

    At the same time, we will continue advocating to increase the lending capacity of Multilateral Development Banks, to make them bigger and bolder.

    This includes both stretching their balance sheets and recapitalization.

    And we must ensure that concessional finance is deployed where it is most needed.

    Many of these actions depend on decisions of other multilateral institutions and of Member States, but we will not relent in our constant advocacy for what the Pact for the Future has clearly indicated as the way to pursue.

    Three — youth and future generations 

    Our efforts must deliver for young people and the generations to come. 

    The Pact’s central promise to young people is to listen to their concerns and ideas, and including them at the decision-making table.

    Following the establishment of a UN Youth Office in 2022, young people played a key role in shaping the Pact’s priorities.

    With the Pact’s adoption, we’re now progressing towards establishing a Youth Investment Platform to ensure that national funding mechanisms and investment platforms are focused on the needs of young people.

    And we’re developing core principles to strengthen youth engagement across our work at the United Nations — including by broadening the representation of younger colleagues within our organizational structures.

    Through the Declaration on Future Generations, we’re also looking to the generations yet to be born.

    We’ve established a Strategic Foresight Network and Community of Practice, to ensure our policies, programmes and field operations are based on long-term thinking.

    And later this year, I will appoint a Special Envoy for Future Generations to scale up these efforts.

    Fourth — technology.

    We’re implementing the Global Digital Compact’s calls to close all digital divides and ensure all people benefit from a safe and secure digital space.

    Artificial Intelligence is a particular focus.

    We’re developing a report on innovative voluntary financing options for AI capacity-building to help the Global South harness AI for the greater good, taking into account the recommendations of my High-Level Advisory Body. 

    The zero draft resolution to establish the International Independent Scientific Panel on AI and convene a Global Dialogue on AI Governance was also circulated last week — thanks to the work of the co-facilitators, Spain and Costa Rica.

    I urge the General Assembly to act swiftly to establish this Panel, and ensure that AI expertise and knowledge are available to all countries, while supporting the Global Dialogue.

    The UN system stands ready to support this work.

    Excellencies,

    As we push for these priorities, we’re also improving the efficiency and effectiveness of our operations, as called for by the Pact.

    Last fall, we undertook a comprehensive assessment across UN entities to harness the potential of innovation, data analytics, digital transformation and foresight across our work — as called for in the UN 2.0 initiative.

    We’re already seeing results: from speeding-up disaster assessments in the Asia-Pacific, to strengthening social security programmes in Malawi, to consolidating Information Technology functions across the UN System.

    This work must continue — especially in light of the funding challenges we face.

    We’re counting on your support as we move forward.

    Excellencies,

    The Pact for the Future is an essential part of this process of constant renewal, as we re-shape the multilateral system for the challenges of today’s world.

    We cannot dilute our efforts.

    We need to sustain the same spirit and determination in which the Pact was forged and adopted.

    We count on you to inform, inspire and guide the implementation work ahead.

    Once again, thank you for your ideas and commitment. 

    MIL OSI United Nations News –

    March 27, 2025

  • MIL-OSI: Digicel and Caban Energy Combat Climate Change With Solar Rollout

    Source: GlobeNewswire (MIL-OSI)

    KINGSTON, Jamaica, March 26, 2025 (GLOBE NEWSWIRE) — In a powerful statement of its commitment to environmental responsibility and combatting climate change, Digicel today announced a partnership with Caban Energy (Caban) which will diversify its energy source using solar technology and reduce its greenhouse gas (GHG) emissions while significantly reducing operational costs.

    This partnership in renewable energy infrastructure will support the Caribbean region in achieving its sustainability goals as outlined in the Paris Agreement. As a leader in renewable energy, Caban is working to deploy solar energy and storage solutions on cell towers across Jamaica for Digicel, both in collaboration with Phoenix Tower International (PTI) and independently.

    Providing a reliable, sustainable and cost-effective alternative power source for cell tower, data centers and other critical infrastructure locations, solar energy and storage solutions enhance network reliability, energy security and communications resilience. By integrating renewable energy into its network once fully deployed, Digicel will reduce GHG emissions by over 38,674 tons of CO2e per year or 580,109 tons of CO2e for the life of the project.

    Commenting on the partnership, Digicel Group CEO, Marcelo Cataldo, said; “As a meaningful expression of our Connecting. Empowering mission, our commitment to ESG is fundamental to who we are as a business. With robust social and governance programmes in place, we’re now making tangible progress in our environmental agenda as we drive multiple benefits through the deployment of sustainable, renewable and cost-effective energy solutions. Jamaica is our first market with Caban and is the shape of things to come with the expectation that more of our 25 markets will come on stream in the coming months.”

    Stephen Murad, Digicel Jamaica CEO, elaborates; “In the wake of Hurricane Beryl in July 2024 which caused significant damage to the south coast of Jamaica, and in particular to the power supplies that we rely on to run our telecoms infrastructure, we made a commitment to the Prime Minister of Jamaica that we would invest in renewable energy. We’re proud that just eight months later, we’re honouring that commitment and actively stepping up to help combat climate change.”

    Alexandra Rasch, CEO of Caban, commented; “This is about building a sustainable future for all. With Caribbean countries at the forefront of the negative effects of climate change, the region’s energy landscape is evolving. Mindful of its ESG commitments, Digicel is partnering with us to harness renewable energy sources to benefit those same countries and enable their progress towards achieving national and global climate targets. It makes for an exciting future.”

    About Digicel

    Enabling customers to live, work, play and flourish in a connected world, Digicel’s world class LTE and fibre networks deliver state-of-the-art mobile, home and business solutions.

    Serving nine million consumer and business customers in 25 markets in the Caribbean and Central America, our investments of over US$5 billion and a commitment to our communities through our Digicel Foundations in Haiti, Jamaica and Trinidad & Tobago have contributed to positive outcomes for over two million people to date.

    With our Connecting. Empowering vision at the heart of everything we do – supported by our DIGI values of Diversity, Integrity, Growth and Innovation – our 5,000 employees worldwide work together to make that a powerful reality for customers, communities and countries day in, day out. Visit www.digicelgroup.com for more.

    About Caban

    Caban, founded in 2018, set out to tackle the challenge of decarbonizing the most fossil fuel-dependent industries. Initially focused on providing alternative energy solutions for the telecommunications industry in the Americas, the company has since grown and demonstrated success in supplying energy to several of the world’s largest telecom operators. Building on this momentum, Caban has scaled globally and expanded its reach to support clean energy needs across critical infrastructure sectors worldwide.

    Caban uniquely combines service, hardware, software, and finance to deliver reliable, clean power and boosts your bottom line. This turnkey approach allows you to work directly with one trusted ESG partner to achieve decarbonization across your operations. Visit www.cabanenergy.com for more.

    Contact:
    Antonia Graham
    Head of Group Communications
    +1876 564 1708
    antonia.graham@digicelgroup.com

    Jacqueline Castillo
    info@cabanenergy.com

    The MIL Network –

    March 27, 2025

  • MIL-OSI United Kingdom: expert reaction to science/research-related bits of the Spring Statement

    Source: United Kingdom – Science Media Centre

    March 26, 2025

    Scientists comment on science related elements of the Spring Statement delivered by the Chancellor. 

    Dr Alicia Greated, Executive Director, Campaign for Science and Engineering (CaSE):

    “Today’s spring statement confirmed the difficult context for the upcoming spending review.  The Chancellor emphasised the importance of economic growth – and we will continue, alongside the rest of the R&D sector, to make a strong case for R&D’s role in delivering it, and for an ambitious settlement for R&D and innovation in June.  It is welcome that the chancellor recognises the importance of capital investment, which includes R&D.

    “Defence R&D is an important part of the UK research system.  It is critical that the breadth of UK R&D is supported by the UK Government if R&D is to drive economic growth and deliver wide ranging benefits to society.

    “We look forward to seeing the detail behind the fiscal measures announced today and await the detail of departmental allocations following the autumn budget last October. Proper scrutiny of R&D funding allocations is of great importance ahead of the spending review this June.”

    Dr Joe Marshall, CEO, National Centre for Universities and Business (NCUB), said:

    “It was reassuring that the Chancellor acknowledged a major UK strength is our position as a ‘hub for global innovation’.  This shouldn’t be taken for granted and is the result of a strong and effective supporting ecosystem.

    “While efficiency savings in government should always be sought, and the transformation fund is a welcome initiative, it will be important to ensure that these changes are carried forward without negative impact on the research and innovation ecosystem.

    “The Chancellor has today stressed the increasing importance of defence spending in an uncertain world.  It must be remembered that research and innovation is as crucial for defence supply chains as it is to other sectors of the economy.

    “The £400m ringfenced for defence innovation, the defence growth board, and the alignment of defence spending with the industrial strategy are all positive signs that the Government recognises this – the vital role of the ecosystem that supports universities and businesses come together must be prioritised within these interventions.”

    https://www.gov.uk/government/collections/spring-statement-2025;

    https://www.gov.uk/government/news/chancellor-delivers-security-and-national-renewal-in-a-new-era-of-global-change

    Declared interests

    The nature of this story means everyone quoted above could be perceived to have a stake in it. As such, our policy is not to ask for interests to be declared – instead, they are implicit in each person’s affiliation.

    MIL OSI United Kingdom –

    March 27, 2025

  • MIL-OSI: Correction: Amber Grid Investor’s Calendar for 2025

    Source: GlobeNewswire (MIL-OSI)

    AB Amber Grid, legal entity code: 303090867. Address: Laisvės ave. 10, LT-04215 Vilnius, Lithuania.

    Amber Grid is changing the investor calendar for 2025 as follows:  

    07.04.2025 – audited annual financial statements and management report for year 2024; 
    07.04.2025 – notice of convening the Ordinary General Meeting of Shareholders, 
    30.04.2025 – resolutions of the Ordinary Annual General Meeting of Shareholders; 
    09.05.2025 – interim information for the 3 months of 2025; 
    08.08.2025 – interim information for the 6 months of 2025; 
    07.11.2025 – interim information for the 9 months of 2025. 

    More information: 
    Laura Šebekienė, Head of Communications of Amber Grid,
    Ph. +370 699 61 246, e-mail: l.sebekiene@ambergrid.lt

    The MIL Network –

    March 27, 2025
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