NewzIntel.com

Category: Economy

  • MIL-OSI Canada: Keeping seniors moving in rural Alberta

    Whether for connecting with neighbours and the community, going grocery shopping or a visit to the doctor, seniors living in rural Alberta often rely on accessible transportation services to maintain their independence. According to Statistics Canada, transportation challenges are a key barrier to participation in social activities for seniors. Rural communities are vital to the province’s identity and success, and Alberta’s government is supporting their growth and prosperity by helping seniors age with dignity and respect in their own homes and communities.

    “This investment will provide a lifeline for seniors and those with mobility issues by empowering them with the freedom to access essential services and social outings. Our government is making sure seniors can remain active and independent by investing in this program, helping seniors age in the rural communities they call home.”

    Jason Nixon, Minister of Seniors, Community and Social Services

    As part of a three-year partnership, Alberta’s government is investing $3.5 million so Healthy Aging Alberta can provide accessible and affordable transportation services for seniors and Albertans with mobility issues across 19 rural communities. This project helps more seniors and Albertans with mobility issues access services that are vital to their health and well-being.

    “It is important to ensure all Albertans have access to safe and affordable transportation especially in rural areas where accessing transportation can be challenging. This program will help make it easier to run errands, connect with friends and family, and carry out appointments in our rural communities.”

    Devin Dreeshen, Minister of Transportation and Economic Corridors

    The Healthy Aging Alberta provincial transportation project started with five communities in 2023. From October 2023 to November 2024, nearly 7,200 rides were provided to seniors and persons with mobility challenges in rural communities through this program. The project is now being expanded to a total of 19 communities, with Phase 2 adding 14 additional communities throughout the province. Communities with a high percentage of low-income seniors were prioritized and successful communities were chosen based on need and their readiness to implement or expand assisted transportation services.

    “Transportation is a lifeline for older adults, enabling older Albertans not only to access essential services, but also to remain actively engaged as volunteers and caregivers — roles that form the foundation of vibrant, interconnected communities. Healthy Aging Alberta and the United Way of Calgary celebrate the Government of Alberta’s continued leadership and investment in this critical social infrastructure.”

    Karen McDonald, provincial director and chair, Community Leadership Council, Healthy Aging Alberta

    Seniors and individuals with mobility issues in these communities will now be able to rely on increased access to affordable transportation and mobility services delivered by local community organizations and partnerships. This includes more frequent trips being available, new routes for out-of-town services, additional accessible vehicle options, and more. With this investment, Alberta’s government is improving seniors’ quality of life by helping them age in place and remain independent, addressing mobility challenges in rural communities and supporting caregivers across the province.

    “The expansion of Healthy Aging Alberta’s provincial transportation project is a positive step in supporting seniors in rural Alberta. This investment will provide many seniors across the province with greater access to essential supports and services, which is an essential aspect of prosperous rural communities.”

    Kara Westerlund, president, Rural Municipalities of Alberta

    Quick facts

    • Project funding:

    Phase 1 (2023):

    • Edson – $275,660
    • Fox Creek – $185,045
    • Oyen and Area (Special Area #3, Acadian No. 34, Empress) – $242,000
    • M.D of Smoky River (Falher, McLennan, Donnelly, Girouxville) – $286,933
    • Sundre – $147,504

    Phase 2 (2024-25):

    • Barrhead/Barrhead County – $275,487
    • Crowsnest Pass – $216,653
    • M.D. Greenview – $60,000
    • Northern Sunrise County – $20,241
    • M.D. Spirit River – $89,260
    • Driftpile Cree Nation – $175,000
    • Milk River – $53,645
    • Claresholm – $175,000
    • Siksika First Nation – $175,000
    • Foothills Region – $146,337
    • Provost – $149,000
    • Hanna – $145,000
    • Three Hills – $175,000
    • Legal – $30,844

    Related information

    • Healthy Aging Alberta
    • Seniors financial assistance programs
    • Resources to help older adults and seniors age in their community

    MIL OSI Canada News –

  • MIL-OSI: Decisions Adopted by eQ Plc’s Annual General Meeting

    Source: GlobeNewswire (MIL-OSI)

    eQ Plc Stock Exchange Release
    25 March 2025, at 7.30 p.m.

    eQ Plc’s Annual General Meeting, held on Tuesday 25 March 2025 as a hybrid meeting in accordance with chapter 5, section 16, subsection 2 of the Finnish Limited Liability Companies Act (“AGM”), decided upon the following:

    Confirmation of the financial statements

    eQ Plc’s AGM confirmed the financial statement of the company, which included the group financial statements, the report by the Board of Directors and the auditor’s report for the financial year 2024.

    Decision in respect of the result shown on the balance sheet and the payment of dividend

    The AGM confirmed the proposal by the Board of Directors that a dividend of 0.66 euros per share be paid out. The dividend will be paid out in two separate installments. The first installment, EUR 0.33 per share shall be paid to those shareholders who are registered as shareholders in eQ Plc’s shareholder register maintained by Euroclear Finland Ltd on the record date of the dividend payment on 27 March 2025. The first installment of the dividend shall be paid on 3 April 2025. The second installment, EUR 0.33 per share shall be paid in October 2025 to those shareholders who are registered as shareholders in eQ Plc’s shareholder register maintained by Euroclear Finland Ltd on the record date of the divided payment. The Board shall decide the record date and the payment date of the second installment of the divided in its meeting in September 2025. It is contemplated that the record date of the second installment will be 7 October 2025 and that the payment date will be 14 October 2025. 

    Discharge from liability to the Board of Directors and the CEOs

    The AGM decided to grant discharge from liability to the Board of Directors and the CEOs for the financial year 1 January – 31 December 2024.

    Remuneration Report for Governing Bodies and Remuneration Policy for Governing Bodies

    The Annual General Meeting decided to adopt the Remuneration Report for Governing Bodies and the Remuneration Policy for Governing Bodies.

    The remuneration of the members of the Board, the number of Board members and appointment of Board members

    The AGM decided that the members of the Board would receive remuneration as follows: the Chair of the Board will receive 5,000 euros, Vice Chair of the Board of Directors will receive 4,000 euros and the Board members will receive 3,000 euros per month. In addition, a compensation of 750 euros per meeting will be paid for all the Board members for each attended Board meeting and travel and lodging costs will be compensated in accordance with the company’s expense policy.

    According to the decision of the AGM, the Board consists of six members. Päivi Arminen, Nicolas Berner, Georg Ehrnrooth, Janne Larma and Tomas von Rettig were re-elected as members to the Board of Directors and Caroline Bertlin was elected as a new member to the Board. The term of office of the Board members ends at the close of the next Annual General Meeting. The Board appointed Georg Ehrnrooth as Chair of the Board in its meeting held immediately after the AGM.

    Auditor and sustainability auditor and their remuneration

    The AGM decided to elect Authorized Public Accountants KPMG Oy Ab as auditor and as sustainability auditor of the company. The auditor and sustainability auditor with main responsibility, named by KPMG Oy Ab is Tuomas Ilveskoski, APA, Authorized Sustainability Auditor. It was decided to compensate the auditor and the sustainability auditor according to their invoices approved by eQ Plc.

    Establishment of a Shareholders’ Nomination Board

    The AGM decided to establish a Shareholders’ Nomination Board whose task is to prepare proposals concerning the number of members of the Board of Directors and the Board’s composition and remuneration to the General Meeting. The Shareholders’ Nomination Board comprises of four members and four largest shareholders of the Company may each appoint a member.

    The AGM decided to adopt the Charter for the Shareholders’ Nomination Board.

    Authorising the Board of Directors to decide on the issuance of shares as well as the issuance of special rights entitling to shares

    The AGM authorised the Board of Directors to decide on a share issue or share issues and/or the issuance of special rights entitling to shares referred to in Chapter 10 Section 1 of the Companies Act, comprising a maximum total of 3,500,000 new shares. The amount of the authorisation corresponds to approximately 8.45 per cent of all shares in the Company at the date of the notice of the AGM.

    The authorisation is to be used in order to finance or carry out potential acquisitions or other business transactions, to strengthen the balance sheet and the financial position of the Company, to fulfill Company’s incentive schemes or to any other purposes decided by the Board. 50 per cent of the shares or special rights entitling to shares issued on the basis of the authorisation may be used to implement incentive schemes or otherwise for remuneration. Based on the authorisation, the Board decides on all other matters related to the issuance of shares and special rights entitling to shares referred to in Chapter 10 Section 1 of the Companies Act, including the recipients of the shares or the special rights entitling to shares and the amount of the consideration to be paid. Therefore, based on the authorisation, shares or special rights entitling to shares may also be issued directed i.e. in deviation of the shareholders pre-emptive rights as described in the Companies Act. A share issue may also be executed without payment in accordance with the preconditions set out in the Companies Act.
    The authorisation cancels all previous authorisations to decide on the issuance of shares as well as the issuance of special rights entitling to shares and is effective until the next Annual General Meeting, however no more than 18 months.

       
    Helsinki, 25 March 2025

    eQ Plc

    Board of Directors

    Additional information: Juha Surve, Group General Counsel, tel. +358 9 6817 8733

    Distribution: Nasdaq Helsinki, www.eQ.fi

    eQ Group is a Finnish group of companies specialising in asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institutions and individuals. The assets managed by the Group total approximately EUR 13.4 billion. Advium Corporate Finance, which is part of the Group, offers services related to mergers and acquisitions, real estate transactions and equity capital markets.

    More information about the Group is available on our website at www.eQ.fi.

    The MIL Network –

  • MIL-OSI: Atlantic American Corporation Reports Fourth Quarter and Year End Results for 2024; Declares Annual Dividend

    Source: GlobeNewswire (MIL-OSI)

    ATLANTA, March 25, 2025 (GLOBE NEWSWIRE) — Atlantic American Corporation (Nasdaq- AAME) today reported net income of $0.4 million, or $0.02 per diluted share, for the three month period ended December 31, 2024, compared to net loss of $2.2 million, or $(0.11) per diluted share, for the three month period ended December 31, 2023. The Company had net loss of $4.3 million, or $(0.23) per diluted share, for the year ended December 31, 2024, compared to net loss of $0.2 million, or $(0.03) per diluted share, for the year ended December 31, 2023. The increase in net income for the three month period ended December 31, 2024 was primarily the result of favorable loss experience in the Company’s life and health operations due to a decrease in incurred losses, predominantly in the group life and Medicare supplement lines of business. The increase in net loss for the year ended December 31, 2024 was primarily due to unfavorable loss experience in the Company’s property and casualty operations due to the frequency and severity of claims in the automobile liability line of business, compared to the prior year.

    Commenting on the results, Hilton H. Howell, Jr., Chairman, President and Chief Executive Officer, stated, “We are thrilled to report exceptional new sales in our Medicare supplement business during the fourth quarter annual enrollment period, with strong momentum carrying into the new year. Although rising costs in the commercial automobile market have affected profitability, we are taking steps to improve rates for that line of business. Additionally, in alignment with our continued commitment to enhancing shareholder value, the Board of Directors has approved the Company’s annual dividend of $0.02 per share. This dividend will be payable on April 23, 2025, to shareholders of record as of April 9, 2025.”

    Atlantic American Corporation is an insurance holding company involved through its subsidiary companies in specialty markets of the life, health, and property and casualty insurance industries. Its principal insurance subsidiaries are American Southern Insurance Company, American Safety Insurance Company, Bankers Fidelity Life Insurance Company, Bankers Fidelity Assurance Company and Atlantic Capital Life Assurance Company.

    Note regarding non-GAAP financial measure: Atlantic American Corporation presents its consolidated financial statements in accordance with U.S. generally accepted accounting principles (GAAP). However, from time to time, the Company may present, in its public statements, press releases and filings with the Securities and Exchange Commission, non-GAAP financial measures such as operating income (loss). We define operating income (loss) as net income (loss) excluding: (i) income tax expense (benefit); (ii) realized investment (gains) losses, net; and (iii) unrealized (gains) losses on equity securities, net. Management believes operating income (loss) is a useful metric for investors, potential investors, securities analysts and others because it isolates the “core” operating results of the Company before considering certain items that are either beyond the control of management (such as income tax expense (benefit), which is subject to timing, regulatory and rate changes depending on the timing of the associated revenues and expenses) or are not expected to regularly impact the Company’s operating results (such as any realized and unrealized investment gains (losses), which are not a part of the Company’s primary operations and are, to a limited extent, subject to discretion in terms of timing of realization). The financial data attached includes a reconciliation of operating income (loss) to net income (loss), the most comparable GAAP financial measure. The Company’s definition of operating income (loss) may differ from similarly titled financial measures used by others. This non-GAAP financial measure should be considered supplemental to, and not a substitute for, financial information prepared in accordance with GAAP.

    Note regarding forward-looking statements: Except for historical information contained herein, this press release contains forward-looking statements that involve a number of risks and uncertainties. Actual results could differ materially from those indicated by such forward-looking statements due to a number of factors and risks, including, among others: the effects of macroeconomic conditions and general economic uncertainty; unexpected developments in the health care or insurance industries affecting providers or individuals, including the cost or availability of services, or the tax consequences related thereto; disruption to the financial markets; unanticipated increases in the rate, number and amounts of claims outstanding; our ability to remediate the identified material weakness in our internal control over financial reporting; the level of performance of reinsurance companies under reinsurance contracts and the availability, pricing and adequacy of reinsurance to protect the Company against losses; changes in the stock markets, interest rates or other financial markets, including the potential effect on the Company’s statutory capital levels; the uncertain effect on the Company of regulatory and market-driven changes in practices relating to the payment of incentive compensation to brokers, agents and other producers; the potential impact of public health emergencies; the incidence and severity of catastrophes, both natural and man-made; the possible occurrence of terrorist attacks; stronger than anticipated competitive activity; unfavorable judicial or legislative developments; the potential effect of regulatory developments, including those which could increase the Company’s business costs and required capital levels; the Company’s ability to distribute its products through distribution channels, both current and future; the uncertain effect of emerging claim and coverage issues; the effect of assessments and other surcharges for guaranty funds and other mandatory pooling arrangements; information technology system failures or network disruptions; risks related to cybersecurity matters, such as breaches of our computer network or those of other parties or the loss of or unauthorized access to the data we maintain; and those other risks and uncertainties detailed in statements and reports that the Company files from time to time with the Securities and Exchange Commission. As a result, undue reliance should not be placed upon forward-looking statements, which speak only as of the date they are made. The Company undertakes no obligation to publicly update any forward-looking statements as a result of subsequent developments, changes in underlying assumptions or facts or otherwise, except as may be required by law.

         
    For further information contact:    
    J. Ross Franklin   Hilton H. Howell, Jr.
    Chief Financial Officer   Chairman, President & CEO
    Atlantic American Corporation   Atlantic American Corporation
    404-266-5580   404-266-5505
         
    Atlantic American Corporation
    Financial Data
           
      Three Months Ended   Twelve Months Ended
      December 31,   December 31,
    (Unaudited; In thousands, except per share data)   2024       2023       2024       2023  
    Insurance premiums              
    Life and health $ 29,351     $ 26,138     $ 111,042     $ 110,382  
    Property and casualty   16,053       16,781       67,689       68,443  
    Insurance premiums, net   45,404       42,919       178,731       178,825  
                   
    Net investment income   2,342       2,633       9,791       10,058  
    Realized investment gains, net   1,193       –       1,210       70  
    Unrealized gains (losses) on equity securities, net   101       1,190       (1,516 )     (2,177 )
    Other income   3       3       11       17  
                   
    Total revenue   49,043       46,745       188,227       186,793  
                   
    Insurance benefits and losses incurred              
    Life and health   16,597       22,931       70,064       71,485  
    Property and casualty   14,742       12,926       55,767       51,015  
    Commissions and underwriting expenses   12,290       9,294       48,030       46,124  
    Interest expense   828       862       3,419       3,269  
    Other expense   4,041       3,834       16,211       15,465  
                   
    Total benefits and expenses   48,498       49,847       193,491       187,358  
                   
    Income (loss) before income taxes   545       (3,102 )     (5,264 )     (565 )
    Income tax expense (benefit)   133       (874 )     (996 )     (394 )
                   
    Net income (loss) $ 412     $ (2,228 )   $ (4,268 )   $ (171 )
                   
    Earnings (loss) per common share (basic & diluted) $ 0.02     $ (0.11 )   $ (0.23 )   $ (0.03 )
                   
    Reconciliation of non-GAAP financial measure              
                   
    Net income (loss) $ 412     $ (2,228 )   $ (4,268 )   $ (171 )
    Income tax expense (benefit)   133       (874 )     (996 )     (394 )
    Realized investment gains, net   (1,193 )     –       (1,210 )     (70 )
    Unrealized (gains) losses on equity securities, net   (101 )     (1,190 )     1,516       2,177  
                   
    Non-GAAP operating income (loss) $ (749 )   $ (4,292 )   $ (4,958 )   $ 1,542  
                   
           
      December 31,   December 31,        
    Selected balance sheet data   2024       2023          
                   
    Total cash and investments $ 265,696     $ 265,368          
    Insurance subsidiaries   258,675       259,253          
    Parent and other   7,021       6,115          
    Total assets   393,428       381,265          
    Insurance reserves and policyholder funds   225,106       212,422          
    Debt   37,761       36,757          
    Total shareholders’ equity   99,613       107,275          
    Book value per common share   4.61       4.99          
    Statutory capital and surplus              
    Life and health   32,443       38,299          
    Property and casualty   47,670       51,774          
                   

    The MIL Network –

  • MIL-OSI United Kingdom: Greens urge government to ‘rebalance the economy’ ahead of Spring Statement

    Source: Green Party of England and Wales

    Green MPs outside the Treasury, from left: Siân Berry MP, Adrian Ramsay MP, Carla Denyer MP, Ellie Chowns MP. Photo: David Mirzoeff/The Green Party

    • Green MPs pose with scales showing government’s ‘skewed priorities’ as government slashes disability benefits while refusing to tax wealth 
    • They say a tax on assets over £10 million could raise nearly 5 times as much as Rachel Reeves’s cuts to disability benefits
    • Greens urge Reeves to abandon the planned cuts and ‘rebalance’ the economy in favour of ordinary people 

    Ahead of the Spring Statement the Green Party is urging the government to ‘rebalance the economy’, by reversing the planned cuts to welfare spending and instead taxing the wealth of multi-millionaires and billionaires. 

    The party’s MPs say it is deeply unfair that those already struggling to get by will be pushed further into hardship because the government is unwilling to tax wealth fairly – and that while we are still feeling the effects of the Conservatives’ ‘failed austerity experiment’ more cuts will only damage the economy further while leaving us unprotected from the climate crisis.

    The day before Rachel Reeves is due to unveil her response to the OBR’s economic outlook and set out her government’s response, Green MPs posed with a set of scales representing the stark difference in the money the government plans to save with its welfare cuts and the amount that could be raised by taxing extreme wealth. 

    They say if the government took the advice of the Patriotic Millionaires and levied a 2% tax on assets above £10 million, this could raise £24 billion a year – almost five times the amount Reeves plans to save by slashing welfare for disabled people. 

    Speaking ahead of the spring statement, Adrian Ramsay, Green Party Co-Leader, said: 

    “It’s not fair that this government is unwilling to introduce a modest tax on the extremely wealthy while removing vital support from a million disabled people. 

    “Fifteen years of austerity have driven our economy to the edge—forcing ordinary people to bear the burden while multi-millionaires, billionaires, and big corporations amass extreme wealth. Meanwhile our economy is not prepared to protect us from the climate crisis. 

    “Labour’s plans will only deepen this inequality and push our economy further off-kilter. From removing the winter fuel payment from millions of pensioners to plans for more public service cuts, this government’s priorities are completely skewed. 

    “Instead of doubling down on the Conservative failed austerity experiment and pushing more people into hardship, it’s time to rebalance our economy for good.

    “At the Spring Statement, Rachel Reeves can do just this. By taxing wealth fairly, she could invest in what this country desperately needs: giving communities the support they need, rebuilding our NHS, and taking action for a safe climate so we all have a future to look forward to.” 

    MIL OSI United Kingdom –

  • MIL-OSI Security: Fayette County woman accused of committing identity theft, money laundering in scam conspiracy

    Source: Office of United States Attorneys

    EAST ST. LOUIS, Ill. – A southern Illinois grand jury returned a 19-count indictment charging a Fayette County woman for working as a “money mule” within a conspiracy to defraud victims and use their stolen identities.

    Elizabeth Conrad, 54, of Ramsey, is facing one count of conspiracy to commit mail fraud, two counts of mail fraud, one count of conspiracy to commit access device fraud, one count of access device fraud, seven counts of money laundering and seven counts of aggravated identity theft.

    “Criminal conspiracies are as varied as the creative minds behind them, limited only by the ingenuity of the con artists orchestrating the scheme,” said U.S. Attorney Steven D. Weinhoeft. “Be extremely cautious anytime someone you have never met offers investments, employment, or asks for money, electronics, or your personal information—it’s likely a scam.”

    According to court documents, Conrad is accused of serving as a “money mule” for other scammers in a conspiracy to defraud victims from at least June 2020 until September 2022. Money mules are people who, at someone else’s direction, receive and move money or valuables obtained from victims of fraud. Money mules add layers of distance between crime victims and criminals, which makes it harder for law enforcement to accurately trace funds that are fraudulently obtained from victims.   

    The indictment alleges Conrad accepted packages at her home sent through the mail from victims containing cash, checks, gift cards and electronics. Knowing the goods were fraudulently acquired, Conrad would then repackage the items and send off to her co-conspirators. Conrad is also accused of attempting to deposit the checks and wiring funds to her co-conspirators in cryptocurrency.

    “The U.S. Postal Inspection Service is charged with defending the nation’s mail system from illegal use. With the collaborative efforts of our federal law enforcement partners, Postal Inspectors investigate fraudsters who utilize the U.S. Mail to perpetuate financial schemes to defraud others to enrich themselves. Postal Inspectors seek justice for victims, including the multiple individual consumer and business victims in this investigation,” said Inspector in Charge, Ruth Mendonça, who leads the Chicago Division of the U.S. Postal Inspection Service, which includes the St. Louis Field Office.

    In addition to the mail fraud, Conrad’s charges for access device fraud, identity theft and money laundering stem from accusations of her and co-conspirators using victims’ names to acquire debit cards that were sent to Conrad. Conrad is accused of using those debit cards for bank withdrawals and purchases to benefit the conspiracy. The indictment outlines ten fraudulent transactions that Conrad is accused of making at ATMs and gas stations in southern Illinois from March through June 2022, and alleges that she received thousands of dollars from these transactions to benefit the conspiracy.

    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.

    Convictions for conspiracy to commit mail fraud, money laundering and mail fraud are punishable by up to 20 years’ imprisonment. Access device fraud is punishable up to 10 years’ imprisonment and conspiracy to commit access device fraud is punishable up to five years’ imprisonment. Aggravated identity theft is a mandatory two years’ imprisonment consecutive to the imposed sentence.

    The U.S. Postal Inspection Service St. Louis Field Office is leading the investigation, and Assistant U.S. Attorney Zoe Gross is prosecuting the case.

    MIL Security OSI –

  • MIL-OSI USA: Photo Wrap-Up: Welch Meets with Vermont Business and Farm Owners, Patients, Legislators in Senate’s First In-State Work Week 

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)

    MONTPELIER, VT – U.S. Senator Peter Welch (D-Vt.) spent the Senate’s first in-state work week of the 119th Session meeting with concerned Vermonters, business owners, farmers, patients, and members of the Vermont State Legislature.  
    On Saturday, March 15, Sen. Welch joined Vermont Treasurer Mike Pieciak and local legislators for a town hall in South Burlington. Senator Welch spoke about the Trump Administration’s reckless and illegal policies, which are hurting Vermont families, farmers, businesses, and the local economy. Watch the town hall here:  

    On Tuesday, March 18, Senator Welch convened Vermont and Canadian business leaders for a roundtable in Newport, Vermont —near the U.S.-Canada border— on Tuesday to discuss President Trump’s Trade War and how the Trump Administration’s reckless tariffs are hurting workers, families, and farmers. Senator Welch was joined by the Hon. Marie-Claude Bibeau, Member of Parliament for Compton-Stanstead, and Vermont and Canadian business owners. Following the roundtable, Senator Welch toured Track, Inc. and Built by Newport and continued discussions on the impacts of the tariffs.  

    Welch convenes international business leaders in Newport to discuss impacts of Trump’s trade war

    Welch at Track, Inc. with Mike Desmarais, Owner & CEO of Track Inc.

    Welch at Track, Inc. with Mike Desmarais, Owner & CEO of Track Inc.

    Welch at Built by Newport with owner Dave LaForce

    Welch at Built by Newport with the LaForce family

    On Wednesday, March 19, Senator Welch toured Brattleboro Memorial Hospital, where he discussed his new bipartisan bill to support rural health care providers, the Rural Hospital Support Act and the impact of President Trump’s and Congressional Republicans’ proposed Medicaid cuts on Vermonters. Following the tour at the Brattleboro Memorial Hospital, Sen. Welch met with business leaders and workers from Allard Lumber Co., and G.S. Precision, Inc., in Brattleboro. 

    Welch at the Brattleboro Memorial Hospital

    Welch Tours Allard Lumber Co. in Brattleboro

    Welch at G.S. Precision, Inc. in Brattleboro

    On Thursday, Senator Welch returned to the Statehouse to meet with the Vermont State Senate Appropriations Committee. The Senator provided an update on the recent passage of the Continuing Resolution and ongoing annual budget negotiations, as well as the harm of the budget proposed by President Trump and Congressional Republicans, which would make drastic cuts to Medicaid and other programs and services Vermonters rely on. Senator Welch was elected to the Vermont State Senate in 1980 and became the first Democrat in Vermont history to hold the position of President Pro Tempore.  
    After, he toured Rhino Foods, which develops and manufactures edible additions for ice cream and frozen foods, such as cookie dough. Rhino Foods is a Certified B Corp and is focused on advancing innovative employee-centered practices that help workers of all abilities and experience succeed. 
    Senator Welch also provided remarks and shared a meal at Winooski High School’s district-wide Community Iftar – an evening of community, celebration, and learning about Ramadan. This was Winooski’s fifth Community Iftar. 

    Welch provides an update to the Vermont Senate Appropriations Committee

    Welch Tours Rhino Foods to discuss workforce training and development

    Welch speaks at Winooski High School’s district-wide Community Iftar

    MIL OSI USA News –

  • MIL-OSI USA: Ricketts Introduces Two Bills to Cut Taxes on Social Security, Military Retirement Benefits

    US Senate News:

    Source: United States Senator Pete Ricketts (Nebraska)
    WASHINGTON, D.C. – Today, U.S. Senator Pete Ricketts (R-NE) introduced two bills to cut federal taxes on Social Security and military retirement benefits. The Social Security Check Tax Cut Act would begin phasing out federal taxes on Social Security benefits. The bipartisan Tax Cuts for Veterans Act,introduced with Senator Jacky Rosen (D-NV), would eliminate the federal tax on military retirement benefits. The bills are modeled after successful efforts to eliminate state taxes on similar benefits when Ricketts was Governor of Nebraska.
    “Social Security and veterans’ benefits should be completely tax-free,” said Senator Ricketts. “We need to provide relief at the federal level, just like we did in Nebraska. My bills will boost retirement income and ensure seniors and veterans keep more of their hard-earned money – just as President Trump promised.”
    “Veterans in Nevada and across our nation have made huge sacrifices to keep our nation safe, and the least we can do is ensure they can retain all of their retirement pay,” said Senator Rosen of the Tax Cuts for Veterans Act. “We’re introducing this bipartisan bill to make military retirement pay tax-free, giving the heroic men and women who served in our military greater financial relief and stability.”
    The bills were first covered by Punchbowl News here. Senator Ricketts will discuss the bills in his weekly press conference call with Nebraska media tomorrow.
    BACKGROUND ON SOCIAL SECURITY CHECK TAX CUT ACT:
    From its creation in 1935, Social Security has been the backbone of most Americans’ retirement plans. According to the Social Security Administration, nearly nine out of ten people aged 65 and older received a Social Security benefit as of June 30 of this year. From 1935 until 1983, Social Security benefits were untaxed, recognizing that workers already paid into Social Security via the payroll tax each pay period. In 1983, 50% of Social Security benefits became taxable. In 1993, President Bill Clinton signed a bill into law making 85% of benefits taxable.
    As Governor in 2022, Ricketts signed LB873 into law to phase in the elimination of state taxes on Social Security benefits over a period of years. The Social Security Check Tax Cut Act would similarly phase out federal taxes on Social Security benefits, beginning with a 10% cut in year one and increasing to 20% in year two. Congress can continue phasing out the tax by 10% a year and make all Social Security income tax free by 2035. Bill text can be found here.
    BACKGROUND ON TAX CUTS FOR VETERANS ACT
    Around 117,000 veterans live in Nebraska. As Governor in 2021, Ricketts signed LB387 into law to eliminate state taxes on military retirement benefits. The bipartisan bill passed 47-0.
    The Tax Cuts for Veterans Act would provide real financial relief for veterans and their families. The savings per veteran would vary depending on their earned retirement pay. An enlisted soldier, sailor, airman, marine, guardsman, or guardian who served for 20 years could save over $500 per month and over $6,000 per year. Bill text can be found here.

    MIL OSI USA News –

  • MIL-OSI: Rate Expands in Knoxville Market with Hire of Adrian Hall as Branch Manager

    Source: GlobeNewswire (MIL-OSI)

    KNOXVILLE, Tenn., March 25, 2025 (GLOBE NEWSWIRE) — Rate, a leader in fintech mortgage solutions, announced today the addition of Adrian Hall as Branch Manager to lead its growing presence in the Knoxville market. With deep roots in the community and a drive to help local families achieve homeownership, Hall brings over a decade of experience in mortgage lending and financial education to his role.

    “Joining Rate was a natural fit,” said Hall. “They walk the walk—everything else comes second. That showed in their processes, technology, rates, and products and how they handled the Knoxville office launch. I always knew what to expect, and they made sure I felt confident every step of the way. That’s the kind of organization I want to partner with, because that’s exactly how I serve my homebuying and refinance clients.”

    A Knoxville native and seasoned industry professional, Hall has helped over 10,000 individuals improve their credit, pay off debt, and take control of their financial futures through his background in financial education. In addition to his professional accomplishments, Hall is an active community leader, serving as Secretary of the Knoxville Mortgage Bankers Association, Treasurer and Board Member of the Farragut West Knox Chamber of Commerce, and President of the Knoxville chapter of the National Association of Minority Mortgage Bankers of America (NAMMBA).

    “We are so happy to have Adrian join our Rate team in Tennessee,” said Jeff Nelson, Chief Production Officer-East at Rate. “He is a true professional, and we are proud to have him leading our team in Knoxville.”

    As Rate continues to expand across the Southeast, Hall’s appointment marks a significant milestone in its mission to bring smart, simple, and accessible mortgage solutions to more homebuyers in the region.

    About Rate

    Rate Companies is a leader in mortgage lending and digital financial services. Headquartered in Chicago, Rate has over 850 branches across all 50 states and Washington D.C. Since its launch in 2000, Rate has helped more than 2 million homeowners with home purchase loans and refinances. The company has cemented itself as an industry leader by introducing innovative technology, offering low rates, and delivering unparalleled customer service. Honors and awards include Best Mortgage Lender for First-Time Homebuyers by NerdWallet for 2023; HousingWire’s Tech100 award for the company’s industry-leading FlashClose℠ digital mortgage platform in 2020, MyAccount in 2022, and Language Access Program in 2023; the most Scotsman Guide Top Originators for 11 consecutive years; Chicago Agent Magazine’s Lender of the Year for seven consecutive years; and Chicago Tribune’s Top Workplaces list for seven straight years. Visit rate.com for more information.

    Press Contact
    press@rate.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/030f6e72-be6c-4c49-90b9-29c76cb526dc

    The MIL Network –

  • MIL-OSI: Bectran Introduces Enhanced Fraud Security & Applicant Verification Capabilities with Latest Integration

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, March 25, 2025 (GLOBE NEWSWIRE) — Bectran, Inc., the industry leader in credit, collections and accounts receivable management technology, has introduced a new integration with a leading global data and technology firm, delivering advanced identity verification, fraud detection and risk-based authentication right to your credit application process.

    “With this latest integration, our clients gain access to a powerful baseline report that will reshape credit application workflows,” comments Louis Ifeguni, Bectran CEO. “This report simplifies verification processes, enhances fraud security and reduces the need—and cost—associated with pulling multiple reports on each credit application.”

    Identity Verification and Fraud Detection

    Credit managers are at constant risk of falling victim to identity and lending fraud when reviewing credit applications. Bectran’s newest integration relieves the complexity and costs associated with navigating identity verification by utilizing an enormous network of live identity databases.

    Credit managers can now access a one-stop shop for fraud prevention and general applicant verification reporting directly through Bectran. Combining aspects of both personal and commercial reporting, an applicant’s person, business, personal guarantor and officers can all be verified by this integration and evaluated through Bectran. Utilizing a configurable confidence-based risk score, the new reports compare business name, corporate registration status, address (state, street, etc.), commercial score risk and much more with an extensive array of third-party databases, providing cross-referencing layers of verification. With this report, credit managers can be confident that an applicant is who they say they are and that their business is registered, trustworthy and active.

    For added fraud protection, specific attributes in the reports that do not coincide with received applicant data are flagged, providing immediate notice to credit managers without the need to leave their workflow on Bectran’s platform.

    About Bectran 

    Bectran is the premier SaaS platform for Finance Departments, akin to CRM for Sales. Trusted by diverse organizations, from SMEs to Fortune 500 companies, we streamline credit processing by over 98%, reducing credit defaults and collection costs. Many businesses rely on Bectran for efficient Accounts Receivable and Collections management, achieving up to 95% cost savings. With rapid onboarding in days, our platform is hailed by credit professionals as the future of credit management. Visit Bectran.com to learn more about financial solutions for your industry.

    Aidan Starkes
    Content & Copywriter
    Bectran Inc
    (888) 791-6620 
    PR@Bectran.com 

    The MIL Network –

  • MIL-OSI: VERB Publishes Management’s Prepared Remarks During Fourth Quarter and Full Year 2024 Earnings Call

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS and LOS ALAMITOS, Calif., March 25, 2025 (GLOBE NEWSWIRE) — Verb Technology Company, Inc. (Nasdaq: VERB) (“VERB” or the “Company”), Transforming the Landscape of Social Commerce, Social Telehealth and Social Crowdfunding with MARKET.live; VANITYPrescribed; GoodGirlRx; and the GO FUND YOURSELF TV Show, today filed its Form 10-K reporting financial and operating results for the full year and the quarter ending December 31, 2024 and held an earnings conference call at 1 p.m. ET to discuss these results. Prepared remarks during the conference call of Rory J. Cutaia, the Company’s Chairman & CEO, are provided below.

    Company Participant
    Rory J. Cutaia, CEO

    Operator:
    Good afternoon and welcome to the full-year and fourth quarter 2024 Financial Results Conference Call for Verb Technology Company, Inc. At this time, all participants are in a listen-only mode. Please be advised, the call is being recorded at the Company’s request.

    On our call today is Rory J. Cutaia, Verb’s Founder, Chairman and CEO

    Before we begin, I’d like to remind everyone that statements made during this conference call will include forward-looking statements under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties that can cause actual results to differ materially. Forward-looking statements speak only as of the date they are made, except as required by law, as the underlying facts and circumstances may change. Verb Technology Company disclaims any obligations to update these forward-looking statements, as well as those contained in the Company’s current and subsequent filings with the SEC.

    I would now like to turn the call over to Rory J. Cutaia, CEO. Rory?

    Rory:
    Thank you moderator, and thanks to everyone for joining us today for our fourth quarter and full-year 2024 financial results and business update conference call.

    Well it sure feels good being back before you, speaking directly to you about our company, our business, our performance, and sharing our direct, transparent, honest thoughts and strategies for how we intend to drive shareholder value in this business now and into the future.

    I’d like to begin with a brief discussion about our history and the challenging market conditions that influenced the formulation of the strategies we undertook to insulate ourselves from those conditions. I’m referring to insulating ourselves from those market conditions that became impediments to value creation in our former direct sales Software as a Service line of business, as well as those market conditions, particularly capital markets conditions, that affected, and are affecting many, many small and micro-cap exchange-listed companies even today.

    Then I’d like to discuss the strategies that we employed and the changes we’ve made that underlie the impressive results we’re now seeing in the business. I’ll also touch on the strategies we employed that resulted in what I’m proud to state is a well cash-infused, extremely healthy debt-free balance sheet and a super clean cap table, the combination of which provide the all-important foundation for the impressive revenue growth we’re now enjoying.

    Ok – let’s jump in. Historically, we were an R&D driven technology business, built around a SaaS platform, with a customer base that was comprised of, for the most part, direct sales companies, or as they are sometimes referred to: multi-level marketing companies. When we entered the market with our interactive video-based sales software, we set out to become the dominant player in this sector. What we saw at that time was the opportunity to address a market that included the large-scale sales teams, including tens of thousands of independent sales reps that these companies managed, all of whom needed a simple and effective, mobile-based sales tool.

    Over time we learned valuable lessons. First, while we onboarded large numbers of new sales reps every month, the attrition rate among sales reps at these companies was extraordinarily high, making it difficult and costly to generate meaningful revenue growth. In addition, while we developed what we believe were extremely effective tools to help sales reps, even inexperienced sales reps generate and convert sales leads, outdated internal communications policies at these companies prohibited us from communicating these tools and how to use them directly to the fields of sales reps which may have curtailed much of the sales rep attrition, as the companies that managed these reps were often ineffective at doing so themselves. Finally, the ever-changing nature of the customer base we served, as well as the give-it-away below cost pricing models adopted by competitors who found themselves marginalized by our superior product offering, required continued, costly R&D expenditures, and continued returns to the capital markets.

    These factors, coupled with what we perceived to be declining market multiples for SaaS businesses generally, drove our decision to sell that business unit and focus instead on our new, though not yet revenue-generating – Market.live, livestream shopping business. A bold move indeed, but one that has certainly proven now to have been in the best interests of our shareholders. This was the first prong of our multi-pronged strategy to restructure, reconstitute, and re-invent VERB.

    The next prong of our strategy was to insulate ourselves from the predatory financing terms imposed universally on companies like ours who relied on access to the capital markets to fund continued R&D and other growth capital requirements. Almost every financing initiative we undertook was fraught with last minute re-trading of material deal terms, ridiculous warrant coverage terms and conditions, post-deal financing exclusivity arrangements, tying the Company to bad financings into the future when additional capital was needed – all of which made us – and so many other companies in the same situation – perfect targets for short-selling – and for companies with any kind of trading volume, greed-driven illegal naked short-selling.

    It wasn’t hard to target companies that announced an upcoming financing as short-sellers could be confident that deal terms and corresponding share prices would be below whatever the then current trading price was. This capital markets environment eroded share prices across the board resulting in reverse splits required to maintain exchange listing requirements, and destroyed cap tables and balance sheets causing an unprecedented level of exchange de-listings. Ultimately, it was the individual retail investors, left without sufficiently aggressive regulatory intervention, who bore the brunt of this market activity and still do.

    To avoid this awful outcome, we developed a unique strategy to utilize Reg A to structure our capitalize raise initiatives and avoid the predatory hedge-fund investors, allowing us to issue straight common shares, priced at-the-market, with no warrant coverage, and no investment banking fees. This financing vehicle, unique for publicly-traded companies, among other financing strategies, allowed us to pay-off all of our debt, redeem all of the previously issued preferred shares, completely restructure our balance sheet, padding it with cash, taking shareholder equity from almost $2 million negative in June 2023 to more than $16 million positive in December 2024, and giving us a cash runway, conservatively assuming zero revenue growth, well into 2028 and beyond.

    The shareholder approved reverse split we did last year resulted in an extremely tight – less than 1 million share float – and essentially eliminated all of the warrant overhang from years-ago predatory financings. We’re very proud of how well that series of initiatives was executed, completing that important second prong of our multi-pronged strategy to restructure, reconstitute, and re-invent VERB.

    The next prong of our strategy was to diversify our revenue streams to insulate ourselves from changes in the market, including economic and regulatory changes, as well as changes within our own customer base and demand for our products and services. The challenge was to identify and develop independent, yet complementary revenue producing business units that could leverage the cost savings produced by a unified internal finance, sales, marketing, and technology department structure utilized by and across all business units.

    Recognizing that the core of our business was our interactive social video commerce technology and know-how, our strategy was to exploit those capabilities by entering the exploding telehealth industry, leading to the development and launch of VANITY Prescribed, followed by GoodGirlRX in partnership with TV and social media celebrity Savannah Chrisley, and then the development and launch of GO FUND YOURSELF, our very exciting, fast-growing crowd funding marketing platform. To give a sense of the revenue potential for Go Fund Yourself, we launched it in Q3 with little to no marketing and recognized $25 thousand in revenue – and then in Q4 we recognized $233 thousand in revenue. And if any of the more recent developments come to fruition for the Show – 2025 may be an extraordinary year for Go Fund Yourself and VERB stockholders.

    VANITY Prescribed was in development during Q3 and Q4, identifying suppliers, onboarding suppliers, then replacing suppliers, developing our online patient screening and prescription approval process, and shoring up our supply chain in anticipation of participating in the extraordinary growth of the telehealth space following the introduction and rapid adoption of the new GLP-1 weight-loss drugs. Revenue, though now growing, was modest through that period and we’re excited for a broad-based launch and marketing campaign that is about to get under way.

    As to MARKET.live, at the end of Q3, we changed our focus and product offering by providing what we believe is an industry-leading end-to-end solution for brands seeking to adopt a social commerce strategy that they cannot manage in-house on a cost effective basis. That strategy has proven to be enormously successful producing exponential revenue growth. As reflected in our 2024 Form 10-K filed today, in Q1 we generated revenue of $7 thousand, in Q2 we generated revenue of $37 thousand, in Q3 we generated revenue of $103 thousand, and in Q4 we generated revenue of $490 thousand. An impressive and most welcomed trend by anyone’s standards.

    Combined 2024 revenue was $895 thousand, an increase of $832 thousand over 2023, representing revenue growth of 1,321% over that period. This performance is the greatest amount of revenue generated since the strategic sale of the Company’s direct sales SaaS business unit in June 2023.

    Looking at Q4 alone, we generated $723 thousand, an increase of $694 thousand over the same period last year, representing revenue growth of almost 2,400% over that period. And as compared to Q3 2024, revenue in Q4 increased by $595 thousand, representing growth of almost 465% quarter-over-quarter.

    While we historically do not provide going-forward guidance, we are comfortable sharing our expectation that Q1 2025 will surpass Q4 2024.

    Finally, as to the last prong of our multi-pronged strategy to restructure, reconstitute, and re-invent VERB, we recognized that any business that fails to identify and develop an artificial intelligence strategy will be marginalized. With that in mind, we explored a number of different strategies, including developing our own A.I. capabilities in-house, which we smartly rejected. Instead, we scoured the market for a company with a developed, tested, proprietary A.I. solution uniquely tailored to video-based social commerce. Upon testing the A.I. and social commerce capabilities of LyveCom, a bleeding-edge, video-based social commerce start-up, we entered into a licensing agreement to incorporate their technology into our MARKET.live platform.

    To our great surprise, we found that the integration of LyveCom’s tech resulted in a massive operational cost reduction. In fact, we anticipate a direct operational cost reduction of approximately $1 million per year. However, perhaps more importantly, we also recognized that the addition of LyveCom’s technology created an entirely new, updated platform, feature rich with capabilities far beyond our current platform and certainly beyond that of many other social commerce platforms. So rather than simply license the technology and risk LyveCom being acquired by a competitor, limiting our access to the technology and future iterations of it, we decided to acquire it ourselves. It is our expectation that the acquisition will be highly accretive and produce meaningful value for VERB stockholders.

    With the closing of the LyveCom acquisition, which remains on track and is expected to occur in the coming weeks, we will have effectively completed the transition of VERB from an unprofitable, cash-hungry business in a challenging market, to an extremely well-capitalized, well diversified business, with proven, strong, fast-growing revenue generation capabilities, A.I.-ready, with a tight float, clean cap table and debt-free balance sheet, poised for meaningful continued growth.

    In closing, I refer you to our Form 10-K filed today for greater details concerning our 2024 financial results as well as the press release distributed today summarizing those results for additional information I’ve not covered in my conference call today. I’ve chosen instead to use this time to provide context for those results and share our strategies and ongoing initiatives for continued growth and value-creation for VERB stockholders.

    Finally, and as anyone who can read a balance can see, with under 1 million shares issued and outstanding as of December 31, 2024, and debt-free with more than $13 million in cash and highly liquid securities – and assuming ZERO value given for our three revenue generating business units – I would be remiss if I didn’t point out that our net cash value per common share is at least $13.50, which we believe represents a very compelling opportunity, very compelling indeed.

    I thank you for allowing me to address you all today and share with you our excitement and optimism for VERB shareholders now and into the future.

    Operator: This concludes the conference call. You may now disconnect.

    About VERB
    Verb Technology Company, Inc. (Nasdaq: VERB), is the innovative force behind interactive video-based social commerce. The Company operates three business units, each of which leverages its social commerce technology and video marketing expertise. The Company’s MARKET.live platform is a multi-vendor, livestream social shopping destination at the forefront of the convergence of e-commerce and entertainment, where brands, retailers, creators, and influencers engage their customers, clients, fans, and followers across multiple social media channels simultaneously. GO FUND YOURSELF is a revolutionary interactive social crowd funding platform and TV show for public and private companies seeking broad-based exposure across social media channels for their crowd-funded Regulation CF and Regulation A offerings. The platform combines a ground-breaking interactive TV show with MARKET.live’s back-end capabilities allowing viewers to tap, scan or click on their screen to facilitate an investment, in real time, as they watch companies presenting before the show’s panel of “Titans”. Presenting companies that sell consumer products are able to offer their products directly to viewers during the show in real time through shoppable onscreen icons. VANITYPrescribed.com and GoodGirlRx.com are telehealth portals, intended to redefine telehealth by offering a seamless, digital-first experience that empowers individuals to take control of their healthcare needs. They were designed and developed to disrupt the traditional healthcare model by providing tailored healthcare solutions at affordable, fixed prices – without hidden fees, membership costs, or inflated pharmaceutical markups. GoodGirlRx.com, a partnership with Savannah Chrisley, a well-known lifestyle personality and advocate for health and wellness, offers customers access to convenient, no-hassle telehealth services and pharmaceuticals, including the new weight-loss drugs, with fixed pricing regardless of dosage, breaking away from the industry’s traditional model of excessive pricing and pharmaceutical gatekeeping.

    The Company is headquartered in Las Vegas, NV and operates full-service production and creator studios in Los Alamitos, California.

    For more information, please visit: www.verb.tech

    Follow VERB and MARKET.live here:
    VERB on Facebook: https://www.facebook.com/VerbTechCo
    VERB on Twitter: https://twitter.com/VerbTech_Co
    VERB on LinkedIn: https://www.linkedin.com/company/verb-tech
    VERB on YouTube: https://www.youtube.com/channel/UC0eCb_fwQlwEG3ywHDJ4_KQ

    Sign up for E-mail Alerts here: https://ir.verb.tech/news-events/email-alerts

    FORWARD-LOOKING STATEMENTS
    This communication contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties and include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance, or achievements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, those identified in our filings with the Securities and Exchange Commission (the “SEC”), including our annual, quarterly and current reports filed with the SEC and the risk factors included in our annual report on Form 10-K filed with the SEC today. Any forward-looking statement made by us herein is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement whether as a result of new information, future developments or otherwise.

    Investor Relations Contact: investors@verb.tech

    Media Contact: info@verb.tech

    The MIL Network –

  • MIL-OSI: SA: Disclosure of trading in own shares (excluding the liquidity agreement) made on March 17, 2025 to March 21, 2025

    Source: GlobeNewswire (MIL-OSI)

    COFACE SA: Disclosure of trading in own shares (excluding the liquidity agreement) made on March 17, 2025 to March 21, 2025

    Paris, 25 March 2025 – 17.45

    Pursuant to Regulation (EU) No 596/2014 of 16 April 2014 on market abuse1

    The main features of the 2024-2025 Share Buyback Program have been published on the Company’s website (http://www.coface.com/Investors/Disclosure-requirements, under “Own share transactions”) and are also described in the 2023 Universal Registration Document.

    Trading session
    of (Date)    		 Number
    of shares    		 Weighted
    average price    		 Gross amount MIC Code Purpose
    of buyback
    17/03/2025 9,000 16.9793 € 152,813 € XPAR LTIP
    18/03/2025 9,000 17.2133 € 154,920 € XPAR LTIP
    19/03/2025 9,000 17.4057 € 156,651 € XPAR LTIP
    20/03/2025 9,000 17.4598 € 157,138 € XPAR LTIP
    21/03/2025 9,000 17.5953 € 158,357 € XPAR LTIP
    Total 17/03/2025 – 21/03/2025 45,000 17.3307 € 779,880 €   LTIP

    CONTACTS

    ANALYSTS / INVESTORS
    Thomas JACQUET: +33 1 49 02 12 58 – thomas.jacquet@coface.com
    Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 – rina.andriamiadantsoa@coface.com

    FINANCIAL CALENDAR 2025
    (subject to change)

    Q1-2025 results: 5 May 2025 (after market close)
    Annual General Shareholders’ Meeting: 14 May 2025
    H1-2025 results: 31 July 2025 (after market close)
    9M-2025 results: 3 November 2025 (after market close)

    FINANCIAL INFORMATION
    This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website: http://www.coface.com/Investors

    For regulated information on Alternative Performance Measures (APM), please refer to our Interim Financial Report for H1-2024 and our 2023 Universal Registration Document (see part 3.7 “Key financial performance indicators”).

      Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust.
    You can check the authenticity on the website www.wiztrust.com.
     

    COFACE: FOR TRADE
    As a global leading player in trade credit risk management for more than 75 years, Coface helps companies grow and navigate in an uncertain and volatile environment.
    Whatever their size, location or sector, Coface provides 100,000 clients across some 200 markets. with a full range of solutions: Trade Credit Insurance, Business Information, Debt Collection, Single Risk insurance, Surety Bonds, Factoring.
    Every day, Coface leverages its unique expertise and cutting-edge technology to make trade happen, in both domestic and export markets.
    In 2024, Coface employed ~5,236 people and registered a turnover of €1.84 billion.

    www.coface.com

    COFACE SA is listed in Compartment A of Euronext Paris
    ISIN: FR0010667147 / Ticker: COFA

    1 Also in pursuant to Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (and updates); Article L.225-209 and seq. of the French Commercial Code; Article L.221-3, Article L.241-1 and seq. of the General Regulation of the French Market Authority (AMF); AMF Recommendation DOC-2017-04 Guide for issuers on their own shares transactions and for stabilization measures.

    Attachment

    The MIL Network –

  • MIL-OSI: Viridien Announces Issuance of Senior Secured Notes and Completion of Conditions for Redemption of Existing Notes

    Source: GlobeNewswire (MIL-OSI)

    Paris, France – March 25, 2025

    On March 25, 2025, Viridien successfully settled its issuance of $450 million in aggregate principal amount of 10% Senior Secured Notes due 2030 and €475 million in aggregate principal amount of 8.5% Senior Secured Notes due 2030 (together, the “Notes”). The Notes will be guaranteed on a senior secured basis by certain subsidiaries of Viridien.

    Viridien also entered into a $125,000,000 super senior Revolving Credit Facility Agreement (the “RCF”) secured by the same security package as the Notes. No drawings have been carried out under the RCF save for part of an ancillary guarantee facility

    The issuance of the Notes was a condition to the redemption by Viridien of all its senior secured notes due 2027 (the “Existing Notes”). That condition has now been satisfied.

    The net proceeds from the issuance have been used, together with cash on hand, to satisfy and discharge today and subsequently redeem on April 1, 2025 in full the Existing Notes and to pay all fees and expenses in connection with the foregoing.

    About Viridien

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

    Contacts

    This press release may include projections and other “forward-looking” statements within the meaning of United States federal securities laws. Forward-looking statements include, among other things, statements concerning the business, future financial condition, results of operations and prospects of Viridien S.A., including its affiliates. These statements usually contain the words “believes”, “plans”, “expects”, “anticipates”, “intends”, “estimates” or other similar expressions. For each of these statements, you should be aware that forward-looking statements involve known and unknown risks and uncertainties. Any such projections or statements reflect the current views of Viridien S.A. about future events and financial performance. No assurances can be given that such events or performance will occur as projected and actual results may differ materially from these projections.

    This press release does not constitute an offer to sell nor a solicitation of an offer to buy securities. There will not be any sale of these securities in any such state or country in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or country. The distribution of this press release may, in certain jurisdictions, be restricted by local legislations. Persons into whose possession this press release comes are required to inform themselves about and to observe any such potential local restrictions.

    The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. There will be no offering of securities to the public in France or the United States.

    No action has been, or will be, taken in any jurisdiction (including the United States) by Viridien S.A. that would result in a public offering of the Notes or the possession, circulation or distribution of any offering memorandum or any other material relating to Viridien S.A. or the Notes in any jurisdiction where action for such purpose is required.

    MIFID II product governance / Professional investors and ECPs only target market – Solely for the purposes of each manufacturer’s product approval process, the target market assessment in respect of the securities has led to the conclusion that: (i) the target market for the securities is eligible counterparties and professional clients only, each as defined in Directive (EU) 2014/65/EU, as amended (“MiFID II”); and (ii) all channels for distribution of the securities to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the securities (a “distributor”) should take into consideration the manufacturers’ target market assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the securities (by either adopting or refining the manufacturers’ target market assessment) and determining appropriate distribution channels.

    The securities are not intended to be offered, sold, distributed or otherwise made available to and are and should not be offered, sold, distributed or otherwise made available to any retail investor in the EEA. For these purposes, a retail investor means a person who is one (or more) of the following: (i) a retail client as defined in point (11) of Article 4(1) of MiFID II; or (ii) a customer within the meaning of Directive (EU) 2016/97, as amended or superseded, where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in Regulation (EU) 2017/1129, as amended (the “Prospectus Regulation”). Consequently, no key information document required by the PRIIPs Regulation for offering or selling the securities or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the securities or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation.

    UK MIFIR product governance / Professional investors and ECPs only target market – Solely for the purposes of each manufacturer’s product approval process, the target market assessment in respect of the securities has led to the conclusion that: (i) the target market for the securities is only eligible counterparties as defined in the FCA Handbook Conduct of Business Sourcebook (“COBS”), and professional clients, as defined in Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (“UK MiFIR”); and (ii) all channels for distribution of the securities to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the securities (a “distributor”) should take into consideration the manufacturer’s target market assessment; however, a distributor subject to the FCA Handbook Product Intervention and Product Governance Sourcebook (the “UK MiFIR Product Governance Rules”) is responsible for undertaking its own target market assessment in respect of the securities (by either adopting or refining the manufacturer’s target market assessment) and determining appropriate distribution channels.

    The securities are not intended to be offered, sold, distributed or otherwise made available to and should not be offered, sold, distributed or otherwise made available to any retail investor in the United Kingdom (“UK”). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (“EUWA”); (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act 2000 (as amended, the “FSMA”) and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA; or (iii) a person who is not a qualified investor as defined in Article 2 of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the EUWA. Consequently no key information document required by Regulation (EU) No 1286/2014 as it forms part of domestic law by virtue of the EUWA (the “UK PRIIPs Regulation”) Consequently no key information document required by Regulation (EU) No 1286/2014 as it forms part of domestic law by virtue of the EUWA (the “UK PRIIPs Regulation”) for offering or selling the securities or otherwise making them available to retail investors in the UK has been prepared and therefore offering or selling the securities or otherwise making them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation.

    In the United Kingdom, this press release is directed only at persons who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Financial Promotion Order”), (ii) are persons falling within Article 49(2)(a) to (d) of the Financial Promotion Order or (iii) are other persons to whom it may lawfully be communicated (all such persons together being referred to as “Relevant Persons”). The issue of the securities is only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire the securities will be directed only to Relevant Persons.

    Attachment

    The MIL Network –

  • MIL-OSI United Kingdom: New world-leading nature finance standards launched to encourage green investment

    Source: United Kingdom – Executive Government & Departments

    Press release

    New world-leading nature finance standards launched to encourage green investment

    New standards will set the bar for nature investments, prevent greenwashing and helping business invest in restoring nature

    Aerial shot of river

    • The Overarching Principles Standard is the first of its kind, supporting investment in high-quality projects which restore rich habitats. 
    • The move marks the UK out as a world leader in the development of nature markets and will drive economic growth as part of our Plan for Change. 

    New government-backed pioneering green finance standards have been introduced today (Tuesday 25 March) to boost investment into nature and support economic growth, as well as helping to clamp down on “greenwashing”. 

    This landmark standard – launched by British Standards Institution (BSI) – will help nature-friendly investments across the UK to grow, by building confidence among businesses that these investments are making a real difference for our natural environment.   

    These new standards will bring a variety of benefits for the environment. Projects that could be supported include restoring wetlands, improving water quality, building flood resilience, and creating new habitats.  

    Through the Plan for Change this Government is working to deliver economic growth across the country, and to support this, we will make the UK the green finance capital of the world.   

    A healthy natural environment is crucial to economic growth. Without a healthy environment, there is no food, no business, and no economy. The Green Finance Institute found that nature-related risks including water shortages and soil health reduction could lead to a 6% reduction to GDP in the years ahead. That is why economic growth and nature restoration must go hand in hand.  

    This is the first standard for collective nature markets of its kind in the UK, and one of the first in the world, marking the UK out as a global leader and marks our ambition to pioneer nature markets which guard against greenwashing and lead to lasting environmental change.   

    Secretary of State for the Environment, Food and Rural Affairs Steve Reed said:    

    “We need urgent action from across society to address the nature crisis, and businesses have a crucial role to play in that effort. By having clear standards, we can strike a blow to greenwashing and give businesses confidence that their investment is truly helping our natural world recover.  

    “Through the Plan for Change, this Government is working relentlessly to grow the economy and this move gets us one step closer to fulfilling our ambition to make the UK the green finance capital of the world.”  

    Scott Steedman, Director – General, Standards at BSI said: 

    “Today marks a key milestone for the Nature Investment Standards (NIS) Programme with the launch of updated overarching principles ready for adoption across the UK. 

    “The principles are designed to provide consistency and rigour for high-integrity UK nature markets that trade in real, measurable environmental benefits. This supports the goal of increasing investment into nature, helping to create new revenue streams for farmers, land managers and other suppliers of nature-based solutions. 

    “BSI, in its role as the UK National Standards Body, looks forward to working closely with Defra to enable the take up of the revised standard and its implementation in the market.” 

    The new Overarching Principles Standard was created following an established BSI market led process for standards development which included extensive consultation with businesses and land managers.   

    BSI is also launching a consultation on a first version of a Natural Carbon Standard, as part of a wider framework of standards. This will gather market views specifically on high integrity principles for projects selling nature-based carbon credits in UK markets. These credits will consist of habitats which store carbon, such as woodlands or peatlands, helping us to reach Net Zero while providing benefits for landscapes and wildlife.     

    The Overarching Principles Standard (BSI Flex 701) is immediately available for use by market participants and will support investment in high quality nature and sustainable farming projects in the UK.    

    NOTES TO EDITORS:     

    • More information on the Overarching Principles Standard can be found here: [BSI Flex 701 v2.0 Nature Markets – Overarching Principles BSI](https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.bsigroup.com%2Fen-GB%2Finsights-and-media%2Finsights%2Fbrochures%2Fbsi-flex-701-nature-markets-overarching-principles-and-framework%2F&data=05%7C02%7CAlex.Walsh%40defra.gov.uk%7C36f86aa99f89489ac9a808dd6b9546c8%7C770a245002274c6290c74e38537f1102%7C0%7C0%7C638785011065753774%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=3zYbDOEaWTOIbHmYRo41Re%2BKFETlrYC%2F0YiDLaRJdVo%3D&reserved=0)  

    • The Overarching Principles and Natural Carbon standards are part of a family of standards which will apply to nature markets.  Other standards are in development and will cover Biodiversity markets, Nutrients projects and schemes and guidance on how projects should engage with local communities.  There is a new BSI navigation tool available on the BSI Nature Markets online Hub – to help stakeholders navigate the suite of BSI nature investment standards. 

    • Further details of a formal assurance framework to verify compliance will be set out in due course.   

    • The BSI have published research on assurance which sets out options for Government to ensure compliance with the new standards.

    Updates to this page

    Published 25 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Negotiations update on an enhanced UK-Switzerland Trade Agreement

    Source: United Kingdom – Government Statements

    Press release

    Negotiations update on an enhanced UK-Switzerland Trade Agreement

    The sixth round of negotiations on an enhanced Free Trade Agreement (FTA) with Switzerland took place in Switzerland between 3 and 10 March 2025.

    Economic growth is the core mission of this government and FTAs have an important role to play in achieving this. We are seeking an enhanced FTA with Switzerland that guarantees market access for UK services suppliers, facilitates the seamless flow of data and ideas between two world-leading services powerhouses and provides long-term certainty on UK business travel to Switzerland. An enhanced FTA will contribute to growth and prosperity across the UK and build on our existing trading relationship with Switzerland. This currently supports 130,000 services jobs and more than £17 billion in services exports, including over £700m from Scotland and the North West.

    The UK government’s focus in talks continues to be on agreeing ambitious outcomes in services, investment and digital trade which are not covered in the existing UK-Swiss FTA. During the latest round, good progress was made in financial services in particular, with both sides focussed on agreeing the most comprehensive chapter either country has signed. On digital trade, provisions on data, source code and cryptography were discussed.

    A number of chapters were provisionally closed during this round, including customs and trade facilitation, and transparency.

    The government will only ever sign a trade agreement which aligns with the UK’s national interests, upholding high standards across a range of sectors, alongside protections for the National Health Service.   

    The next round of negotiations is expected to take place in the UK in early summer 2025.

    Any organisations or individuals interested in speaking to the Department for Business and Trade about negotiations with Switzerland should do so by emailing ch.fta.engagement@businessandtrade.gov.uk.

    Updates to this page

    Published 25 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Boosting Rural Business Development: Governor Polis and OEDIT Introduce Rural Jump-Start Operating Grants

    Source: US State of Colorado

    DENVER – Today, the Business Funding & Incentives division of the Colorado Office of Economic Development and International Trade (OEDIT) announced a three-year Rural Jump-Start (RJS) grant program to continue to encourage economic development and job creation in economically distressed, rural counties of Colorado as approved by the Colorado Economic Development Commission (EDC). 

    “Colorado is committed to supporting the small businesses that drive our economy and these grants will support businesses in our rural communities around the state. Colorado is one of the best places to start and grow a business, and we look forward to building on this important work to strengthen our economy,” said Governor Jared Polis. 

    Grants of $15,000, or $25,000 in identified coal transition communities, will support operating expenses for businesses that move to or start in designated RJS zones. Up to $630,000 is expected to be distributed over three years, supporting approximately 36 businesses and at least 120 new jobs, continuing the RJS program’s impact in rural communities. 

    “Companies in rural Colorado are creating incredible new technologies, enhancing our supply chain and creating valuable, good-paying jobs in their communities. Last year, the Rural Jump-start Program facilitated 212 new hires in our rural communities, and we are thrilled to continue the impact with these new operating grants,” said OEDIT Executive Director Eve Lieberman. 

    The RJS Operating Grants announced today replace the original grant program, which sunsets at the end of this fiscal year. Eligible participating businesses are also eligible for relief from state income tax; state sales and use tax; county personal property tax; and municipal personal property tax (in participating municipalities). Qualified New Hires of participating businesses are also eligible for State income tax relief. 

    “The Rural Jump-start program was initiated in partnership with rural communities and has a proven track record of supporting new businesses and new jobs across Colorado’s rural counties. Implementing these new grants will enable more rural businesses to benefit from the program and contribute to their local communities and economies,” said OEDIT Deputy Director Jeff Kraft. 

    The RJS program was established by state statute in 2016 as a tax incentive program and expanded in 2021 to include operating and new hire grants. Currently, 35 Colorado counties have been approved as RJS Zones by the EDC and 33 companies are participating in the program. 

    About the Colorado Office of Economic Development and International Trade 

    The Colorado Office of Economic Development and International Trade (OEDIT) works to empower all to thrive in Colorado’s economy. Under the leadership of the Governor and in collaboration with economic development partners across the state, we foster a thriving business environment through funding and financial programs, training, consulting and informational resources across industries and regions. We promote economic growth and long-term job creation by recruiting, retaining, and expanding Colorado businesses and providing programs that support entrepreneurs and businesses of all sizes at every stage of growth. Our goal is to protect what makes our state a great place to live, work, start a business, raise a family, visit and retire—and make it accessible to everyone. Learn more about OEDIT. 

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Transcript: Governor Hochul On “Mornings With Zerlina”

    Source: US State of New York

    arlier today, Governor Kathy Hochul was a guest on SiriusXM’s “Mornings with Zerlina” with Zerlina Miller. The Governor spoke on her proposal for universal free school meals, the ongoing Budget negotiations and which challenges she is prioritizing from the Trump administration.

    AUDIO: The Governor’s remarks are available in audio form here.

    A rush transcript of the Governor’s remarks is available below:

    Zerlina Miller, SiriusXM: Welcome back to “Mornings with Zerlina.” Joining us on the phone is the first woman to ever be Governor of the great State of New York. Governor Kathy Hochul is all on the line. Good morning, Governor.

    Governor Hochul: Good morning.

    Zerlina Miller, SiriusXM: It is quite a time. There is so much going on and I’m so grateful that you were able to join us this morning.

    One of the things we’ve been focused on since January 20 is the role and the importance of Democratic Governors in being the bulwark against some of the authoritarian moves of the Trump administration. How do you see yourself and your role as the Governor of New York in holding the line for democracy?

    Governor Hochul: That’s an excellent question, and I appreciate the role that Congress plays. I’m a former member of Congress and I would’ve stayed if I had not voted to support the Affordable Care Act representing a very Republican district. So, I have been there. But also — now serving as Governor for the last three-and-a-half years — there is enormous power in being able to speak up with one voice to represent an entire state, a large state like New York, and to call out what is happening to not just the people of our state, but the people all across America. And if we abrogate that responsibility at this moment in history, then we’re not fulfilling our obligations to our citizens or to this nation, and that’s what I feel so strongly about — the role I can play now.

    There are pathways to have a relationship that’s workable on infrastructure and other areas where there’s common interest with the Trump administration, but what I’ve said from the very beginning, and say it all the time: If you cross the line and you come after policies and programs that help New Yorkers and take them away, or you challenge our very values — the ideals that we hold dear in the State of New York — then you have a fight with me.

    So, that’s our position.

    Zerlina Miller, SiriusXM: What are some of the things that you’re speaking up about?

    Governor Hochul: Well, first of all, women’s rights — and this is an issue we have, actually with a judge right now in Louisiana who’s trying to force us to extradite a medical doctor, an abortion provider who prescribed telemedicine abortion pills to a family, a woman and her mother in Louisiana.

    They want me to extradite this person and send her there to face criminal charges. This is, again, a fallout from administration stacking the Supreme Court, overturning Roe v. Wade and the fallout continues all these years later. So, standing up for women’s rights, but also, Medicaid. I was out the very first days they talked about undoing the Medicaid promise that we’ve made to our citizens since the 1960s that we will take care of them. They think it’s just people in poverty who aren’t working — they are wrong. These are our senior citizens in nursing homes and these are programs for children. So, I’ve been out there speaking out strongly on those issues.

    Now we have cuts to FEMA. Are you kidding me? Have they watched the news? Did they see the weather? They see the devastation all across America and at this time of great crisis, you are now talking about eliminating FEMA assistance for states. So, I will tell you this — on education, school lunches, I was in a school just a couple days ago saying, “Don’t touch this essential program that the Department of Education provides,” and there’s almost too much and, in that sense, you have to be a little bit selective or your voice becomes just one of many and you really have to pick your fights.

    But I have to say this, there are plenty of fights to choose from.

    Zerlina Miller, SiriusXM: There are plenty of fights to choose from. Just the ones you just listed off — the Medicaid cuts, FEMA cuts, Department of Education. I feel like cutting the department — I mean they’re really cutting everywhere. You have Elon Musk and his unelected crew of “tech bros,” I guess is the way to describe them. Running from agency to agency and cutting staff and funding. I mean, talk a bit about the impact specifically of the Department of Education cuts in addition to the free school lunches, because I think that that is still very much new, right? It just happened and so the impact has not necessarily been felt by everyone yet.

    Governor Hochul: Right. Before I get to that, let me just quickly say that when we first started seeing these cuts from Elon Musk, we took an exact opposite approach here. We actually have advertising in Union Station in Washington and here in New York at Penn Station. People going on a train see the message, which Elon Musk may say, “You are fired,” but in New York, we say, “You’re hired.” We are trying to hire these individuals because they’re enormously talented. We value public servants. We know the critical role they have in keeping the plane safe, and protecting our nuclear codes, and making sure social security checks are received by our grandparents and parents.

    But on education, New York State receives about $5 billion in assistance, whether it’s $2 billion for Pell Grants — creating that pathway to a higher education, which changes everything, including my own family’s trajectory — $2 billion for school lunches. I mean, you have to go to some of these school lunch rooms and know that there are children whose stomach should be growling throughout the day because their parents, their mom, most likely, did not have the ability to pack that lunch, send them along with money to buy lunch and these are the kids that are the collateral damage of this war on government.

    And if we as moms and parents — first Mom Governor of New York — if I don’t use my voice to stand up for those children across my state in this nation, then what am I doing here? And that’s how strongly I feel about these fights when it comes to the education cuts. There’s a lot of uncertainty and chaos, and we’re trying to do our Budget here in the State of New York, not knowing whether or not the $93 billion we receive from the federal government is going to be affected, so it’s complicating things. But, if our voices don’t rise up at this moment, then why are we sitting in these seats?

    Zerlina Miller, SiriusXM: In the last few minutes here, I want to ask about tariffs because one of the things that is true about New York, it is quite large and it goes up right on the line of Canada and some of the folks who live in New York — the farmers and the folks who benefit from being able to have small businesses in that area will be impacted by Trump’s tariffs. Talk a bit about, number one, the impact and what you can do as Governor to protect their interests.

    Governor Hochul: That is something that has been top of mind, particularly in our farm community. Literally on Saturday morning, I was out celebrating Maple Syrup Weekends. New York is the number two producer of maple syrup in the nation, so I was out there with farmers.

    They said, “What will the tariffs do to you out in this rural area?” Probably a red county. I’m pretty sure that the father who ran the farm was a Republican supervisor, and they are so frightened about tariffs for their farms. Everything from the steel that goes into how they process the maple syrup all the way to the fertilizer.

    I mean, how many people think about fertilizer? There’s something called potash — most of it from our country, in New York, particularly — comes from Canada and it’s only manufactured in Canada, Ukraine, and Russia. So I’d rather get it from Canada any day of the week. But this is what’s jeopardized. So it’s the farm community that is really, really, really anxious at a time when they don’t need this extra stress.

    But also, I’m from Buffalo. I’m from Western New York. The synergy between Ontario and Western New York. It is just one large committee. Everybody supports the Buffalo Bills, everybody watches the hockey games, and so there’s a lot of cross pollination. This is not a foreign country to us. These are our friends to the north, so there’s a lot of business exchange, a lot of trade back-and-forth.

    We have a $50 billion trade balance, which is pretty much in balance with our largest trading partner, which is Canada. That being jeopardized sends chills down the spines of our business leaders who don’t know whether all their costs, all the materials they need. We get so much lumber, we build housing with lumber from Canada, and what is that going to do to our ability to be able to build the housing that I am pushing for — to make up for years of people not having the ambition to do it.

    So, I have to say this: The ripple effect touches every sector of our economy here in New York. And what that means, contrary to what Donald Trump promised, which is lower prices on Election Day. Remember he said that countless times on the campaign trail? The opposite is true.

    Prices are going up and will be going up. And lastly, Canada, because they’re frustrated with these policies — threatened to raise our energy costs that we get from Canada by 25 percent. Now, that is the last thing New Yorkers need right now is a higher energy bill because of the Trump tariffs. So it’s wide ranging and my fear is only just beginning.

    Zerlina Miller, SiriusXM: In the last few minutes here, I wanted to ask you about being somebody who has to stand up for the people in the State of New York against the administration that is trying to grab all the power that they can in such a short amount of time. Do you ever feel afraid or nervous about becoming a target by this administration? They obviously are targeting and attacking people who stand up against them.

    Governor Hochul: No, fear is never an option for someone in my position. Fear is paralyzing at this moment in history when we’re called to stand up to basically the disintegration, the destruction of our democracy and our nation as we know it.

    I do not want to be, as Theodore Roosevelt described as “The Man in the Arena,” which I changed to “The Woman in the Arena.” I will never be the timid soul on the sidelines, questioning what others do. I will be in that arena. I will stand up. I will cooperate and have a partnership with the Trump administration on areas of mutual interest.

    And I will do that because it’s important to my state to get Penn Station redone and focus on infrastructure. But I said this in my first call with the president, after he was elected, I said, “But I will stand up to you. You go after women’s rights, you have to get through me. You’re going to challenge my citizens on issues. And my immigrant community, we are going to have a fight.” So I cannot let fear dictate how I respond. I must govern with strength at this moment. And then that’s exactly what we’re doing.

    Zerlina Miller, Sirius XM: New York Governor Kathy Hochul, thank you so much for being with us. It’s Women’s History Month, it’s the perfect time to have this conversation. Thank you, again. Come back anytime.

    Governor Hochul: Alright, thank you. Bye-bye.

    MIL OSI USA News –

  • MIL-OSI USA: Fact Sheet: President Donald J. Trump Imposes Tariffs on Countries Importing Venezuelan Oil

    US Senate News:

    Source: The White House
    PROTECTING UNITED STATES NATIONAL SECURITY: Yesterday, President Donald J. Trump signed an Executive Order imposing tariffs on countries that import Venezuelan oil.
    President Trump is levying a 25% tariff on all goods from any country that imports Venezuelan oil, whether directly from Venezuela or indirectly through third parties.
    The tariffs will lapse one year after a country ceases importing Venezuelan oil—or sooner if officials deem it appropriate.
    If tariffs are imposed on China, they will also apply to Hong Kong and Macau to prevent transshipment and evasion.
    These tariffs aim to sever the financial lifelines of Nicolás Maduro’s corrupt regime and curb its destabilizing influence across the Western Hemisphere.
    This action targets transnational criminal threats, such as the Tren de Aragua gang, and addresses the humanitarian crises fueled by Venezuela’s actions.
    ADDRESSING AN EMERGENCY SITUATION: The Maduro regime poses an unusual and extraordinary threat to the national security and foreign policy of the United States.
    The Maduro regime systemically undermines democratic institutions by suppressing free and fair elections and consolidating power illegitimately.
    Venezuela’s endemic corruption and mismanagement under Maduro have crushed its people and triggered a regional humanitarian and public health crisis.
    Millions of Venezuelans have fled Maduro’s oppressive rule, imposing significant burdens on neighboring countries and destabilizing the Western Hemisphere.
    The Maduro regime has aided and facilitated the infiltration of the Tren de Aragua gang—a designated Foreign Terrorist Organization—into the United States by failing to secure its borders, allowing the gang to flourish within Venezuela, and refusing to take action against its members.
    These dangerous criminals exploited the previous administration’s open-border policies, establishing a foothold in U.S. communities and preying on American citizens through violent acts, including kidnapping, assault, and murder.

    USING OUR LEVERAGE TO SAFEGUARD OUR INTERESTS: President Trump is using America’s economic might to safeguard our interests and punish those who support Maduro’s regime.
    Tariffs are a powerful, proven source of leverage for protecting the national interest.
    President Trump is sending a clear message that access to our economy is a privilege, not a right, and countries importing Venezuelan oil will face consequences.
    As President Trump said in the Presidential Memorandum on American First Trade Policy, trade policy is a critical component in national security.
    President Trump has successfully used tariffs in the past to advance America’s interests and address urgent national security threats and is doing so again today.

    MIL OSI USA News –

  • MIL-OSI: Notice of Extraordinary General Meeting of Jyske Bank A/S

    Source: GlobeNewswire (MIL-OSI)

    This is to give notice of an Extraordinary General Meeting of Jyske Bank A/S, which will be held on Thursday, 24 April 2025, at 3:00 p.m. at Vestergade 8-16, 8600 Silkeborg, Denmark (entrance via Jyske Bank’s visitor entrance situated at Bankpassagen).

    At the Annual General Meeting held on 25 March 2025, the motions to amend the Articles of Association were adopted.
    However, the members in general meeting with a right to vote represented less than 90% of the share capital, wherefore
    the final adoption of the proposed amendments to the Articles of Association is subject to adoption at an extraordinary general meeting.

    The AGENDA for consideration and final adoption:

    a. Motions proposed by the Supervisory Board:
      1 Reduction of Jyske Bank’s nominal share capital by DKK 27,651,180 (corresponding to 2,765,118 shares at a nominal value of DKK 10) from  DKK 642,720,950 to DKK 615,069,770. With reference to S.188(1) of the Danish Companies Act we point out that the capital reduction takes place through cancellation of previously acquired own shares acquired by Jyske Bank in accordance with authorisation from members in general meeting. Hence, the capital reduction is spent on payment of capital owners.
    If the motion is adopted, Jyske Bank’s holding of own shares will be reduced by 2,765,118 shares of a nominal value of DKK 10 These shares have been bought back at a total amount of DKK 1,499,999,584 which implies that, apart from the nominal capital reduction, a total amount of DKK 1,472,348,404 has been paid to the capital owners in connection with the buy-backs. The capital reduction takes place at a share premium since it will be at 542.47 for each share of a nominal amount of DKK 10, corresponding to the average price at which the shares have been bought back.

    In consequence of the above, the following amendment to the Articles of Association is proposed:
    Art. 2 to be amended to the effect that Jyske Bank’s nominal share capital be DKK 615,069,770 distributed on 61,506,977 shares.
      2 Amendments to Art. 3(8), Art. 4(2) and (3), Art. 5(1) and (2) and Art. 24(2): “VP Securities Services” to be changed into “VP Securities A/S”.
      3 To replace the existing authorizations in the Articles of Association, the Supervisory Board is authorized to carry out capital increases with and without pre-emption rights and to raise convertible loans with and without pre-emption rights by amending Art. 4(2), (3) and (5), Art. 5(1), (2), (3) and (4) of the Articles of Association. The amendments are considered together and are proposed to be changed to the following wording:
        – Art. 4(2): As specified by the Supervisory Board in respect of time and terms and conditions, the share capital can be increased through the subscription of new shares without preferential subscription rights for existing shareholders. The increase may be in one or several issues by not more than a nominal amount of DKK 60m (6 million shares of a face value of DKK 10). The increase may be effected through cash payment or through acquisition of existing businesses or specific assets. The increase must in every case be effected not below the market price. The increase cannot be effected through part payment. The authorisation will be effective until 1 March 2030.

    The new shares shall when issued and transferred be registered in the names of their holders at VP Securities A/S and in the Bank’s register of shareholders. The new shares are negotiable instruments, and there are no restrictions in their negotiability except for the provisions laid down in Art. 3 of the Articles of Association. Shareholders shall be under no obligation to have their shares redeemed in full or in part.
        – Art. 4(3): As specified by the Supervisory Board in respect of time and terms and conditions, the share capital can be increased through the subscription of new shares with preferential subscription rights for existing shareholders. The increase may be in one or several issues by not more than a nominal amount of DKK 120m (12 million shares of a face value of DKK 10). The increase may be effected through cash payment or in any other manner. The increase may be offered at a favourable price. The increase cannot be effected through part payment. The authorisation will be effective until 1 March 2030.

    The new shares shall when issued and transferred be registered in the names of their holders at VP Securities A/S and in the Bank’s register of shareholders. The new shares are negotiable instruments, and there are no restrictions in their negotiability except for the provisions laid down in Art. 3 of the Articles of Association. Shareholders shall be under no obligation to have their shares redeemed in full or in part.
        – Art. 4(5): To be deleted.
        – Art. 5(1): The Bank may, following resolution by the Supervisory Board, up to 1 March 2030, on one or more occasions raise loans against bonds or other instruments of debt which bonds or instruments of debt shall entitle the lender to convert his claim into shares (convertible loans) and the Supervisory Board is authorised to carry out the related capital increase. Convertible loans may be raised with a conversion right to a maximum number of shares with a total nominal value corresponding to the maximum nominal amount at the time of raising the convertible loans by which the share capital may be increased using the remaining authorization in Art. 4(3), calculated in relation to the conversion price determined at the time of raising the convertible loans. Exercising the authorisation to increase the share capital in Art. 4(3), will hence reduce the authorisation to raise convertible loans in accordance with this provision. The Bank’s shareholders shall have a preferential subscription right to convertible loans. Where the Supervisory Board decides to raise convertible loans, when exercising the authorization in this provision, the authorisation to increase the share capital, cf. Art. 4(3), shall be considered to be utilised by an amount corresponding to the maximum conversion right. The term allowed for conversion may be fixed at a period exceeding five years after the raising of the convertible loan. For shares which shall be issued on the basis of the convertible loans mentioned in this provision, the Supervisory Board shall decide – with due regard to the time of subscription or utilisation of the conversion right – the time from when such new shares shall carry a right to receive dividend and other terms and conditions of the share issue. Shares issued on the basis of the convertible loans mentioned in this provision cannot be paid in by partial payment, are registered shares and are registered in the name of the holder in VP Securities A/S and the Bank’s register of shareholders upon issuance and transfer. The new shares are negotiable instruments and the same rules as apply to the existing shares in respect of rights and duties, redeemability and transferability shall apply.
        – Art. 5(2): The Bank may, following resolution by the Supervisory Board, up to 1 March 2030, on one or more occasions raise loans against bonds or other instruments of debt which bonds or instruments of debt shall entitle the lender to convert his claim into shares (convertible loans) and the Supervisory Board is authorised to carry out the related capital increase. Convertible loans may be raised with a conversion right to a maximum number of shares with a total nominal value corresponding to the maximum nominal amount at the time of raising the convertible loans by which the share capital may be increased using the remaining authorization in Art. 4(2), calculated in relation to the conversion price determined at the time of raising the convertible loans. Exercising the authorisation to increase the share capital in Art. 4(2), will hence reduce the authorisation to raise convertible loans in accordance with this provision. The Bank’s shareholders shall not have a preferential subscription right to convertible loans which are offered at a subscription price and a conversion price to the effect that the right of conversion corresponds to the market price of the shares at the time the resolution to raise convertible loans by using the authorisation of this provision was passed by the Supervisory Board. The convertible bonds or other instruments of debt may be issued as payment upon the Bank’s acquisition of existing businesses or specific assets corresponding to the value of the convertible bonds or other instruments of debt. Where the Supervisory Board decides to raise convertible loans, when exercising the authorization in this provision, the authorisation to increase the share capital, cf. Art. 4(2), shall be considered to be utilised by an amount corresponding to the maximum conversion right. The term allowed for conversion may be fixed at a period exceeding five years after the raising of the convertible loan. For shares which shall be issued on the basis of the convertible loans mentioned in this provision, the Supervisory Board shall decide – with due regard to the time of subscription or utilisation of the conversion right – the time from when such new shares shall carry a right to receive dividend and other terms and conditions of the share issue. Shares issued on the basis of the convertible loans mentioned in this provision cannot be paid in by partial payment, are registered shares and are registered in the name of the holder in VP Securities A/S and the Bank’s register of shareholders upon issuance and transfer. The new shares are negotiable instruments and the same rules as apply to the existing shares in respect of rights and duties, redeemability and transferability shall apply.
        – Art. 5(3): To be deleted.
        – Art. 5(4): To be deleted.
    b. Authorisation to the Supervisory Board to make such amendments as may be required by the Danish Business Authority in connection with registration of the Articles of Association.
    c. Any other business.

    Reference to Jyske Bank’s website for further information
    Where in this notice of a General Meeting, reference is made to Jyske Bank’s website for further information, this link can be used: https://www.jyskebank.dk/ir/generalforsamlinger.

    Adoption of motions – requirements
    The motion to amend Jyske Bank’s Articles of Association (items a.1-a.3 of the agenda) at extraordinary general meetings shall only be finally adopted where adopted by three fourth of the votes cast as well as by three fourth of the voting share capital represented at the general meeting, cf. Art. 12(2) of the Articles of Association.

    Size of the share capital, voting rights of the shareholders and registration date
    Jyske Bank’s share capital is DKK 642,720,950, comprising shares at a face value of 10. Any share amount of DKK 10 shall carry one vote, provided always that 4,000 votes are the highest number of votes any one shareholder may cast on his own behalf. Voting rights can only be exercised by shareholders or their proxies. For the voting right of a share to be exercised, the share shall be registered in the name of the holder in the Bank’s register of shareholders not later than on the day of registration, which is 17 April 2025, or the title to such share shall be notified and documented to the Bank within that same time limit.

    Proxy and postal vote
    Shareholders may as from Friday, 28 March up to and including Wednesday, 16 April 2025 give voting instructions, appoint Jyske Bank’s Supervisory Board or a third party as proxy either electronically or by means of the Power of Attorney form.

    Shareholders may attend the General Meeting by proxy and cast their votes by proxy.

    In addition, shareholders may as from Friday, 28 March up to and including Wednesday, 23 April 2025 at 10.00 a.m. cast postal votes either electronically or by means of a form.

    Proxies may be appointed or postal votes may be cast electronically at the Investor Portal via Jyske Bank’s website. A form for the appointment of proxies or for casting postal votes is available at one of Jyske Bank’s branches or can be downloaded from Jyske Bank’s website. Where the form is used, please forward the completed and signed form either by post to Euronext Securities (VP Securities A/S) at the address Nicolai Eigtveds Gade 8, 1402 Copenhagen K or by email to CPH-investor@euronext.com. The form must reach Euronext Securities (VP Securitas A/S) by the above-mentioned deadlines, and proxies must have been appointed or postal votes must have been cast electronically by the same deadlines.

    Custodian bank
    Jyske Bank’s shareholders may choose Jyske Bank A/S as their custodian bank in order to exercise their financial rights through Jyske Bank A/S.

    Questions from shareholders
    Shareholders are recommended to ask questions in writing before the general meeting about the items of the agenda or Jyske Bank’s financial position. Please send questions to Jyske Bank A/S, Juridisk Afdeling, Vestergade 8-16, DK-8600 Silkeborg or by email to Juridisk@jyskebank.dk. Questions and answers will be presented at the general meeting, and shareholders who have asked questions will receive replies directly from Jyske Bank. At the General Meeting, the management will also answer questions from the shareholders about matters of importance for the financial situation of Jyske Bank and questions for consideration at the General Meeting.

    Additional information
    The following documents and information can be downloaded from Jyske Bank’s website from Friday, 28 March 2025:
    1. Notice of Extraordinary General Meeting
    2. The total number of shares and voting rights at the date of the notice
    3. Agenda and full wording of motions.
    3. The forms to be used when voting by proxy or by postal vote

    Notification of participation
    Shareholders who wish to attend the General Meeting and cast their votes must notify their participation at the Investor Portal via Jyske Bank’s website as from Friday, 28 March 2025 up to and including Wednesday, 16 April 2025.
    Confirmation of registration and QR code for the General Meeting Portal will be submitted by email (also in case of powers of attorney to third parties), and therefore it is important that you register your email address at the Investor Portal.
    At the entrance to the general meeting, you press the submitted QR code in the email to register your attendance which is why you must bring your smart phone or your tablet. Any votes will also take place via the General Meeting Portal. Additional guidelines for using the General Meeting Portal will be available at the entrance to the general meeting.
    If you are unable to receive confirmation of registration to the general meeting by email, you may register for the general meeting by means of the sign-up form available at Jyske Bank’s website or
    by contacting one of Jyske Bank’s branches. If so, you must contact and confirm your attendance at the entrance to the general meeting which requires that you produce valid identification.

    Silkeborg, 25 March 2025
    The Supervisory Board

    Attachment

    The MIL Network –

  • MIL-OSI Economics: Olli Rehn: Eurozone outlook and European Central Bank monetary policy

    Source: Bank for International Settlements

    Presentation accompanying the speech

    Let me first thank MNI for inviting me to speak at this conference. To kick off, I will briefly discussthe economic outlook in the eurozone and the current lines of thought in the ECB’s monetary policy.

    In presenting my remarks here, I will focus particularly on how the significant shifts in world politics of recent weeks will, in my view, affect the euro area economy and the European Central Bank’s monetary policy.

    Slide 2: Geopolitics dominates economic outlook

    Geopolitics currently dominates and weighs on the outlook for the global economy, and does so with exceptional force. 

    Russia’s illegal, brutal war of aggression in Ukraine has been going on for more than three years. It has shaken the European security order, and more recent events since the Munich Security Conference a month ago have marked a major disruption in the world order – in a way that is dangerous for Europe. This has forced the European Union to seek to strengthen its common defences.

    It is clear that the United States is undergoing a fundamental change of direction both in its foreign and security policy and in its domestic political development. This is not necessarily just a temporary phenomenon, but may be a more permanent turn in US politics. And US foreign policy is now operating under a very different kind of rationality than it used to.

    “America first” trade policy in the US is profoundly protectionist but highly unpredictable. There will be no winners in a trade war. Tariffs and the related uncertainty will hit investment and slow down growth everywhere. The latest indicators on the US economy point to weaker than expected growth, which would also affect growth prospects in Europe.

    As a result of the turmoil in world politics in recent weeks, Europe has woken up to the necessity of strengthening common defence. The situation is acute, and many EU countries, led by Germany, have announced significant decisions to increase defence spending. Europe is now taking action and responding to the challenge of forming and financing a common, strong defence.

    These defence investments will have to be made in a situation where the public deficits of EU Member States are already large. However, the investments required for defence are of such a magnitude that they cannot be financed simply by increasing taxation or cutting other public sector expenditure. It is therefore, in my view, justified, in the short term, to utilize the flexibility elements included in the EU’s new fiscal rules, provided that longer-term debt sustainability is not compromised. 

    This is why we also need common European financing solutions, implemented in a way that strengthens our common security and accelerates joint procurement and production – I am thinking of air defence and drone production, for example.

    Slide 3: Bank of Finland’s scenario calculation: A trade war would weaken growth worldwide

    Recent statements from the United States about imposing import tariffs have raised the threat of a trade war in the global economy. An analysis published a week ago by the Bank of Finland illustrates the significant risks that a trade war would pose to economic growth.

    The study assumes that the United States would impose a 25% tariff increase on all imports from the euro area and a 20% increase on all imports from China. It also assumes that the euro area and China would impose equivalent tariffs on the United States. Moreover, the calculations take into account the potential economic effects of increased uncertainty affecting economic policy.

    The scenario demonstrates that there are no winners in a trade war. As a result, world GDP would decline by more than 0.5% per year. The effects on the euro area and China would be even greater. A key aspect of a trade war is the rise in uncertainty, which we are already witnessing and which could lead to a reduced willingness to investment among businesses.

    Efforts should, in any case, be made to prevent the threat of a trade war through a fair negotiated solution to mitigate the negative effects on growth. To support a negotiated solution, Europe should be prepared to respond to the imposition of tariffs with potential countermeasures.

    It must also be said that when a brutal war is being fought on European soil, a trade war is the last thing we need right now – especially among allies.

    Slide 4: Growth in the euro area economy picking up gradually

    US tariffs and increased uncertainty are already having adverse effects on economic growth outlook in the euro area in the immediate and near term.

    Europe’s response to the deterioration of the security situation will have its own effects on European economies, which are very difficult to quantify at this stage.

    The growth outlook for the euro area remains subdued. According to the ECB’s March forecast, growth in the euro area is gradually picking up, but at a slower pace than expected, and growth risks are on the downside.

    In addition to cyclical factors, the euro area economy is also experiencing structural problems. In the ECB’s new forecast, productivity growth is slower than before. The weakness appears to be more structural than previously. But it would be wrong to say that it is entirely structural.

    One – if not the only – reason for Europe’s slow productivity growth is precisely the weak development of investment in recent years. The background is a great deal of uncertainty fuelled by geopolitics, but there were also tight financial conditions for a long time.

    Let me reveal that I don’t belong to those who makes a crystal-clear distinction between structural and cyclical factors – it would be against my macroeconomic training. Rather, I see the distinction as a line drawn in water. Here, I feel like applying a giant of economics: “In the long run, we will all retire. But in the meantime, we need more productive investment.”

    In other words: although the euro area’s longer-term challenges of growth and competitiveness cannot be solved by monetary policy, the fall in interest rates brings welcome room for manoeuvre for households and companies. Rate cuts have been supportive of the investments that are required to improve productivity. Of course, in the long term, the level and growth of investments is determined by their expected real returns.

    Although there is little to be positive about in the security situation in Europe, the expected increases in defence spending and investment are at least likely to support GDP growth over the medium-term.

    Slide 5: Euro area inflation stabilising at the 2% target

    Inflation in the euro area is stabilising at the ECB’s 2% target. The path of disinflation has been pretty much in line with forecasts. Wage inflation has largely decelerated, and forward-looking wage indicators point to a clear slowdown in wage growth. Most measures of core inflation − which excludes energy and food prices − also point to a sustained convergence of inflation around the 2% target over the medium term.

    Risks to the inflation outlook are two-sided. Protectionism in world trade dampens growth and increases uncertainty about the inflation outlook. Geopolitical tensions pose a wide range of risks to the energy market, consumer confidence and corporate investment.

    Slide 6: ECB’s decision to ease monetary policy spurred by inflation stabilising and growth weakening

    The ECB’s latest decision to ease monetary policy leaned on the fact that inflation is stabilising and growth weakening. Thus, the Governing Council decided to cut the key policy rate by 25 basis points.

    The rate cut was the sixth since we started easing monetary policy. Since last June, the deposit facility rate has been lowered by a total of 1.5 percentage points, from 4% to 2.5%. Monetary policy is thus becoming meaningfully less restrictive.

    The decision was based, as usual, on three elements: the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission.

    We are not pre-committed to any interest rate path. Policy rates are set at each meeting based on the latest information and our comprehensive assessment, next time on 17 April. The Governing Council retains full freedom of action in times of pervasive uncertainty.

    Slide 7: Europe is under challenge from the world of geopolitics – investment is needed now in security and productivity

    Let me now conclude. The world is now experiencing a transition of potentially similar magnitude as 30 years ago, when the Berlin Wall fell, the Cold War ended and Europe united. At that time, the evolution of humanity took a step forward and security rooted in cooperation was strengthened.

    Today the world only is in reverse gear: power politics has returned in a brutal way with Russia’s invasion, the United States is standing by Russia and playing sphere-of-influence politics, and China is challenging the entire international order. 

    But we must be able to navigate even in this geopolitically difficult terrain. With the Munich Security Conference, Europe has received yet another wake-up call.

    At the same time, we must focus on our own economic problems. Europe needs investments in productivity growth – in human capital and in research and innovation. Protectionism highlights the need to complete the single market and expand the EU’s network of free trade agreements.

    The stabilisation of inflation and the weakening of the growth outlook have supported monetary policy easing since last summer. The ECB’s monetary policy has been reasonably successful in bringing inflation down without inflicting unnecessary pain to the real economy.

    The past few weeks have shown that Europe must urgently get its act together and stand united in the face of external security threats. In the coming weeks and months, Europe will have to demonstrate that it is taking action and meeting the challenge of strengthening its defence. There is no time to waste.

    Thank you very much. I am happy to take any questions you have.

    MIL OSI Economics –

  • MIL-OSI Economics: Andrew Bailey: Growth – what does it take in today’s world?

    Source: Bank for International Settlements

    Thank you for inviting me to speak today. It’s always a pleasure to be back in my home town, and particularly here at Leicester University, not least because I went to school next door.

    I am going to speak today about a topical subject – economic growth. The question I set myself is, what does it take to create a sustained increase in the growth rate of the economy in today’s world? I’m going to range quite wide in answering the question, drawing in the current situation here in the UK and the world, and some economic history too.

    Economic growth is, quite simply, the rate of expansion of the size of the economy. Let me start by explaining how it matters to the Monetary Policy Committee when we decide on the appropriate level of interest rates to achieve our objective of price stability, the 2% inflation target. There are two parts to why growth matters for monetary policy – the outcome and the inputs. On the first, quite simply, low and stable inflation is the best contribution monetary policy can make to growth in the economy. The same goes for financial stability, our other core responsibility as the central bank, which is also a key condition for growth.

    On the inputs side, growth matters because monetary policy decisions require us to assess the inflationary consequences of the pressure on economic resources in this country. That pressure reflects the balance between demand and supply in goods and services and labour markets. To observe that level of pressure, we can’t just look at actual national income or output and employment. If that’s all we did, we would be left saying “so what?” We have to compare the actual position with the productive potential of the economy (the supply capacity of the economy) and in doing so assess resource utilisation and thus the degree of pressure.

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Diplomacy and dialogue are the best ways to achieve a stable future in Syria: UK statement at the UN Security Council

    Source: United Kingdom – Executive Government & Departments

    Speech

    Diplomacy and dialogue are the best ways to achieve a stable future in Syria: UK statement at the UN Security Council

    Statement by Ambassador Barbara Woodward, UK Permanent Representative to the UN, at the UN Security Council meeting on Syria.

    I’d like to start by thanking Special Envoy Pedersen and Under-Secretary General Fletcher for your briefings.

    Thank you also to Ms Seif for your briefing and for your tireless advocacy efforts. 

    We echo your calls for an inclusive political transition that prioritises the participation and leadership of women in Syria.

    President, I would like to make three points today.

    First, this month Syrians marked the 14th anniversary of the start of the uprising against the Assad regime. 

    At last, they can see the prospect of a more stable and hopeful future.

    But horrific events this month demonstrate too that this remains a fragile and critical moment in Syria. 

    We welcome the Interim Authorities’ announcement establishing a fact-finding committee to investigate and prosecute individuals who committed crimes during the clashes in Syria’s coastal areas.  

    A peaceful and secure country is in the interests of all Syrians and the wider region.  

    Diplomacy and dialogue are the best way of achieving this and we urge all parties to refrain from further violence and to exercise restraint at this critical moment.  

    We are concerned by Defence Minister Katz’s declaration that the Israeli presence in the Area of Separation and the Golan Heights could be for an unlimited period. 

    This is unacceptable and Israel must present clear and reasonable timelines for their withdrawal in line with international law.

    Second, we note the progress made in Syria’s political transition. 

    We welcome the Constitutional Declaration’s provisions on freedom of expression, religion and women’s rights alongside the commitment to establish a Transitional Justice Commission.

    We call for swift implementation of these actions and hope the Declaration will provide a solid foundation for a transition that guarantees the rights of all Syrians. 

    A clear approach on accountability and transitional justice is essential for national reconciliation and to prevent a recurrence of the violence we saw this month. 

    Progress on this cannot wait. 

    As the Interim Authorities take these next steps, we call for a consultative and inclusive process and for appointments to the Transitional Government to reflect Syria’s rich diversity.

    Finally, we recognise the immense challenges of rebuilding Syria and that this cannot be done without economic recovery and the international community’s coordinated support. 

    The UK is committed to Syria’s recovery, underlined by our pledge at last week’s Brussels conference of up to $207 million in critical humanitarian assistance. 

    This will alleviate some of the suffering in Syria, as well as helping Syrians in Lebanon, Jordan and Turkey, who generously host so many refugees.

    In parallel, the UK has relaxed some sanctions on Syria and revoked the asset freezes of 24 entities and institutions in the energy, transport and finance sectors. 

    We have also issued a General Licence to support transactions for humanitarian activities in Syria.

    In conclusion, President, the UK stands with the Syrian people in building a more stable, free and prosperous future.

    Updates to this page

    Published 25 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI: TWAICE and Modo Energy Debut Integration to Quantify the Financial Impact of BESS Performance Improvements in ERCOT Markets

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, March 25, 2025 (GLOBE NEWSWIRE) — TWAICE, the leading provider of battery analytics software, and Modo Energy, a B2B SaaS platform providing energy data, analytics, and forecasting, announced today a pioneering integration that enables battery energy storage system (BESS) owners and operators in ERCOT to translate improvements in system performance into accurate financial insights. This partnership underscores Modo Energy and TWAICE’s shared commitment to delivering actionable insights for the energy storage industry, reinforcing the value of high-quality, real-time data in optimizing battery performance and maximizing asset value to drive the energy transition forward.

    TWAICE customers in ERCOT can now use Modo Energy’s proprietary battery asset revenue performance data to assess the financial impact of performance adjustments and maintenance plans for their BESS. This enables a more accurate, asset-specific calculation of revenue at the exact settlement point. TWAICE customers will ultimately be able to realize greater BESS uptime – a boost for revenue as market data from the UK and ERCOT show that even a 1% improvement in BESS availability can increase revenue by $2,000 per megawatt per year.1

    “Battery owners need more than just data – they need clear, real-time insights into financial performance,” says Quentin Scrimshire, CEO and co-founder at Modo Energy. “TWAICE is leading the way in battery health analytics, and this partnership brings greater precision to understanding the financial impact of performance optimization. By integrating Modo Energy’s benchmarking intelligence with TWAICE’s analytics, we’re giving battery owners the tools to make smarter, data-driven decisions with confidence.”

    “The success of our customers is directly linked to the performance of their BESS assets,” says Stephan Rohr, Co-CEO of TWAICE. “With the integration of Modo Energy’s data, we’re giving our ERCOT customers a clear understanding of how performance improvements translate into measurable financial gains. By linking BESS performance with real-time revenue insights, asset managers can make data-driven decisions to maximize profitability.”

    Two new features help operators identify the root causes of poor performance and availability
    In addition to the Modo Energy integration, TWAICE also announced today that all customers now benefit from two new tools in its analytics platform: Recoverable Energy and Usable Energy. These features provide BESS operators with an overview of how much energy is currently available for use, and how much can be regained by fixing underlying issues. BESS operators today often struggle to pinpoint the root causes of performance issues, including preventable energy losses caused by factors such as imbalances, weak cells or non-operating components. With Recoverable Energy and Usable Energy, operators can tackle these challenges and maximize availability through recommendations to fix performance bottlenecks and restore lost energy.

    Additional details, including a live demo of the new Usable Energy and Recoverable Energy features, will be presented at the TWAICE Energy Analytics Webinar on Wednesday, March 26, 2025. Attendees at Energy Storage Summit USA can also learn more about TWAICE’s latest developments at the company’s seminar “Beyond Basic O&M: Optimizing BESS Availability with Analytics“ on March 26.

    About TWAICE
    Since 2018, TWAICE has been leading the field of predictive battery analytics, meeting the demand for safe, durable, and highly available energy storage assets (BESS). TWAICE provides advanced software solutions for designing, validating, and operating batteries at scale, combining deep battery knowledge with artificial intelligence to generate actionable insights. While Battery Management System (BMS) and Energy Management System (EMS) providers offer basic monitoring capabilities, TWAICE exceeds the traditional service by providing advanced analytics that uncover hidden patterns and anomalies to optimize battery performance and lifespan. As an independent third-party, TWAICE ensures unbiased recommendations, free from ties to specific insurance companies, manufacturers or vendors.

    About Modo Energy
    Modo Energy is a B2B SaaS platform providing data, analytics, and forecasting to help energy companies, funds, utilities, and banks optimize battery storage assets. The Modo Energy Terminal is the go-to platform for evaluating the commercial case for grid-scale storage—offering trusted revenue indices, customizable benchmarks, bankable forecasts, interactive market analysis, and policy insights. Trusted by thousands, Modo Energy helps teams navigate evolving markets, optimize investments, and make data-backed, bankable decisions in the energy transition.

    Media Contacts
    TWAICE:
    Justin Williams
    Trevi Communications for TWAICE
    justin@trevicomm.com
    +1 (978) 539-7157

    Modo Energy:
    Charlotte Owen
    Executive Assistant at Modo Energy
    charlotte@modo.energy
    +1 (925) 360-5899

    ___________________________
    1 Source: Modo Energy presentation at TWAICE Vision Summit 2024.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a4f505a5-11ff-41b9-9ae5-ccb4a3588086

    The MIL Network –

  • MIL-OSI United Kingdom: Investigation of Dundee University crisis must ensure full transparency

    Source: Scottish Greens

    25 Mar 2025 Education

    The Dundee Uni crisis exposes years of mismanagement.

    More in Education

    The Scottish Funding Council’s investigation into conditions leading Dundee University into its financial crisis must ensure full transparency and that no stone goes unturned, says Scottish Green MSP Maggie Chapman.  

    Last week, Ms Chapman was elected as the new Rector of Dundee University, supported by students who back her calls for greater transparency and accountability at the institution. She will take up this voluntary role from 1 August 2025.

    Ms Chapman, who also represents the North East region which includes Dundee, said:

    “University staff and students have been left in the dark since management revealed their financial black hole last year. This investigation must provide the transparency and clarity that they deserve.

    “I urge the investigation team to explore how weak democratic and governance practices led to these failures. It is clear that management has only made matters worse by determined secrecy and a lack of transparency.

    “The review will likely take place before my tenure as Rector begins later this year, but I will be working with the campus trade unions and students to ensure that their voices are heard and that we end the years of mismanagement and poor decision-making that has brought the University to such a disastrous position.”

    Ms Chapman added:

    “This crisis isn’t just about a financial deficit – it has revealed a total lack of accountability and a lack of communication between the hardworking people who make this University great, and the management who are supposed to be protecting them.

    “When so much has gone wrong at Dundee University, this investigation is an opportunity to start setting things right. No stone can be left unturned. At every step of this investigation, there must be a clear commitment to openness, transparency, and engagement with students and staff.”

    MIL OSI United Kingdom –

  • MIL-OSI: Sfil :

    Source: GlobeNewswire (MIL-OSI)

    Paris, March 25, 2025

    ANNUAL FINANCIAL REPORT 2024

    In accordance with the regulatory requirements in force, Sfil announces that the French version of its Annual Financial Report 2024 was filed with the Autorité des Marchés Financiers (AMF) on March 25, 2025, and that it can be obtained from its website: https://sfil.fr/infos-financieres/publications/. The English version of the Annual Financial Report 2024 will be available around mid-April 2025 on the website: https://sfil.fr/en/financial-informations/publications-2/.

    Attachment

    The MIL Network –

  • MIL-OSI: UPAY Inc. – ACPAS Continues to Champion the Microfinance Sector as Proud Sponsor of MFSA Compliance Workshop

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, March 25, 2025 (GLOBE NEWSWIRE) — UPAY Inc. (“UPAY” or the “Company”) (OTCQB: UPYY) is delighted to announce that ACPAS, its South African subsidiary, proudly sponsored the MFSA #101 Compliance Workshop to MicroFinance, held at the Radisson Hotel & Convention Centre Johannesburg on March 13, 2025.

    This highly anticipated event provided an essential platform for key industry players, regulators, and stakeholders to engage in critical discussions on compliance, regulatory advancements, and best practices within the microfinance sector. Attendees benefitted from insightful presentations, interactive panel discussions, and meaningful networking opportunities, all aimed at strengthening the industry’s compliance framework.

    MFSA expressed its sincere gratitude to ACPAS for its ongoing sponsorship and unwavering commitment to the microfinance sector. The presence of ACPAS at the event was met with great enthusiasm, with industry participants acknowledging the company’s invaluable support in fostering an environment of collaboration and industry progression.

    UPAY Inc. is proud of ACPAS’s continued involvement with the MFSA and its dedication to driving positive change in the microfinance landscape. The Company remains committed to supporting industry-wide initiatives that empower microfinance institutions and promote sustainable financial growth.

    About ACPAS:

    ACPAS is a leading Loan Management Software provider in South Africa, offering innovative solutions that streamline loan origination, management, and compliance processes. With a strong commitment to supporting microfinance institutions, ACPAS provides cutting-edge automation and data-driven tools that enhance operational efficiency and regulatory compliance. As a subsidiary of UPAY Inc., ACPAS continues to drive advancements in financial technology, ensuring sustainable growth for the microfinance industry. For more information, visit www.acpas.co.za  

    About UPAY:

    UPAY is a publicly traded holding company at the forefront of the fintech industry. By investing in innovative technologies, UPAY delivers comprehensive Financial Software Platforms that offer full system automation, intelligent data solutions, and an enhanced user experience. The Company is dedicated to bridging the gap between clients and consumers in an evolving financial ecosystem, ensuring high engagement and lasting impact. For more information, visit www.upaytechnology.com and connect with us on LinkedIn and Facebook.

    Forward-Looking Statements This press release contains “forward-looking statements” as defined under applicable securities laws. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those anticipated. The Company does not undertake any obligation to update or revise forward-looking statements because of new information, future events, or other circumstances. No information in this publication should be interpreted as any indication whatsoever of the Company’s future revenues, results of operations, or stock price.

    Contact Information UPAY INC. Media Relations info@upaytechnology.com

    The MIL Network –

  • MIL-OSI: Caisse Française de Financement Local: Communiqué de mise à disposition du RFA Caffil 2024

    Source: GlobeNewswire (MIL-OSI)

    Paris, March 25, 2025

    ANNUAL FINANCIAL REPORT 2024

    In accordance with the regulatory requirements in force, Caisse Française de Financement Local announces that the French version of its Annual Financial Report 2024 was filed with the Autorité des Marchés Financiers (AMF) on March 25, 2025, and that it can be obtained from its website: https://caissefrancaisedefinancementlocal.fr/investisseurs/publications/.
    The English version of the Annual Financial Report 2024 will be available around mid-April 2025 on the website: https://caissefrancaisedefinancementlocal.fr/en/investor/publications/.

    Attachments

    The MIL Network –

  • MIL-OSI USA: Luján: President Trump’s Newest Executive Order Could Take Away Millions in Federal Investment From New Mexico’s Small Businesses, Affordable Housing, First-Time Homebuyers

    US Senate News:

    Source: US Senator for New Mexico Ben Ray Luján
    President Trump Signed Executive Order to Dismantle Community Development Financial Institutions (CDFI) Fund
    The CDFI Fund Aims to Promote Economic Revitalization in Underserved Communities in All 50 States, Provides Over $480 Million to New Mexico Communities
    Washington, D.C. – Today, U.S. Senator Ben Ray Luján (D-N.M.) issued the following statement highlighting the devastating impacts President Trump’s recent executive order to dismantle the U.S. Department of Treasury’s Community Development Financial Institutions (CDFI) Fund will have on New Mexicans. The CDFI Fund aims to promote economic revitalization in underserved communities and has supported New Mexico’s small businesses, expanded access to affordable housing, and helped families buy homes.
    “Across New Mexico, the CDFI Fund is used to help small businesses grow on Main Street, support families so they can afford their first home, and expand access to affordable housing,” said Senator Luján. “My colleagues on both sides of the aisle have long supported the CDFI Fund which has boosted community development across the country. Now, the Trump administration has put New Mexico’s Main Street lending on the chopping block – a move that will make it harder for families to buy a home and for small businesses to grow. This is the latest effort by the Trump administration to make it harder for working families to get by and get ahead.”
    Since the program’s founding, the CDFI Fund has provided $480,020,846 to communities in New Mexico, including in fourteen different cities and towns. A full list of New Mexico CDFI Fund projects can be found here.
    States, community banks, credit unions, and other local financial institutions have used CDFI funding to build affordable housing and create jobs. Meanwhile, CDFI funding has encouraged banks to invest in distressed communities—helping small businesses get off the ground and get the capital they need to thrive. It is a proven bipartisan effort that has empowered private sector entities and underserved communities in all 50 states.
    The CDFI Fund provides funding through targeted programs and offers technical assistance to grantees. Since its creation, the CDFI Fund has awarded over $8 billion to CDFIs, $81 billion in tax credit allocation authority to Community Development Entities, and $3 billion in guaranteed bonds.

    MIL OSI USA News –

  • MIL-OSI Global: Our research shows the harm the two-child limit on benefits is doing. Only scrapping it can end this

    Source: The Conversation – UK – By Kate Andersen, Research Fellow, School for Business and Society, University of York

    Malysheva Liudmyla/Shutterstock

    Since the UK Labour government took office in summer 2024, calls have intensified to scrap both the “two-child limit” – which restricts support for children through universal credit to two children – and the overall benefit cap. With Chancellor Rachel Reeves resisting this pressure as she tries to manage deteriorating public finances, ways of tweaking the two-child limit policy have been proposed.

    But as researchers of child poverty, we have no doubt that the best place to start reducing the high and rising numbers of children growing up in poverty in Britain today is by fully abolishing the two-child limit and the benefit cap.

    We argue that both policies are astoundingly unfair. As our four-year research programme has documented, both are causing wide-ranging harm to children. They restrict children’s everyday experiences and damage their ability to thrive – which in the long run affects everyone in the UK.

    Children live in poverty because their families don’t have an adequate income. This is partly a simple question of maths: wages don’t adjust when there are more mouths to feed. It’s also partly because things happen unexpectedly for some families – job loss, disability, relationship breakdown – leaving them needing extra support for a period of time.

    Countries across Europe respond to these dual challenges by providing financial support that adjusts to family needs. Until recently, the UK did too. Indeed, the UK welfare state was one of the pioneers of “family allowances” in the post-war period.

    But since 2017, the UK has reformed the system so that in families with three or more children, the support on offer when things go wrong deliberately and explicitly falls far short of what is needed. The UK’s two-child limit, an approach that differs to other countries in Europe, restricts means-tested support to two children in a family only. It bakes child poverty into the fibre of the UK.

    Its sister policy, the benefit cap, limits the maximum benefit amount available to households without adults in work. This removes further help from some of the most vulnerable.

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

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

    Struggling to get by

    The parents we spoke to frequently talked of difficulties in affording basic necessities for their children, including clothes and food. Many parents had resorted to using foodbanks or cut back on food spending.



    Read more:
    ‘When you’ve got nothing in your belly, you can’t concentrate’: teachers on the food banks they run in schools

    The material impacts also affected children’s education and their social and emotional wellbeing. Jessica is a single mum of four. Her business went under during the pandemic and her partner left the household, leaving her affected by both the two-child limit and the benefit cap.

    When a hole appeared in Jessica’s daughter’s school shoes, there was no money to replace them straight away. Her daughter went to school wearing trainers and was put in isolation for not adhering to the dress code. Jessica explained:

    I got the phone call to say she had to go into isolation and, and things and I just said, “I’m not the type of person that just has £20 sat in the bank” … it was kind of a bit public shaming her really, taking her away and putting her in isolation.

    Our interviews also showed that, despite parents’ best efforts to shield them, children are often aware of household financial hardship and in turn try to protect their parents. Christina, a mum of three affected by the two-child limit, said of her middle child:

    He won’t say he needs new clothes and he won’t say his shoes don’t fit anymore … I think he’s got it into his head now that we can’t go out and spend or he can’t ask, and I feel so bad for that.

    Our research also documents the importance of abolishing the benefit cap alongside the two-child limit. Otherwise, some families affected by the two-child limit won’t see much financial gain, while others will be newly pushed into the benefit cap.

    Complete removal

    Suggested alternatives to the full abolition of the two child limit include a “three-child limit”, or an exemption for children under five. These options would undoubtedly help some families, but would leave many of those in the greatest need still struggling.

    Families are struggling to get the food they need.
    Klemzy/Shutterstock

    Pound for pound, a three-child limit is less effective at reducing poverty than simple abolition, precisely because it is less well targeted on those in deepest poverty. An exemption for under fives would create a new cliff edge, removing significant support on a child’s fifth birthday, even though we know that the costs of children rise as children get older.

    Further, these approaches continue to enforce a separation between what a family needs and its entitlement to support, and therefore will continue to embed child poverty as an institutional feature of our social security system. Children’s life chances will continue to be circumscribed by the number of siblings they have. Given what we know about the long-term costs of child poverty for society, these are short-sighted ways to save money today.

    It is very encouraging that the government has committed to a child poverty strategy, and that the prime minister has said he will be “laser focused” on tackling child poverty.

    But, as we wait for the strategy to be published, the number of children harmed by the two-child limit rises daily. Nearly two-in-five larger families are now affected and this is predicted to rise to 61% of larger families by the time the two-child limit has full coverage.

    If the child poverty strategy is to have real impact, its starting point is straightforward: both the two-child limit and the benefit cap need to go, and urgently, before more damage is done to children’s lives.

    Kate Andersen received funding from the Nuffield Foundation and the Research England Policy Support Fund facilitated by The York Policy Engine for the research reported in this article.

    Kitty Stewart has received funding from the Nuffield Foundation for the research reported in this article.

    – ref. Our research shows the harm the two-child limit on benefits is doing. Only scrapping it can end this – https://theconversation.com/our-research-shows-the-harm-the-two-child-limit-on-benefits-is-doing-only-scrapping-it-can-end-this-252250

    MIL OSI – Global Reports –

  • MIL-OSI USA: Oklahoma Man Charged with Operating Large-Scale Dog Fighting and Trafficking Venture

    Source: US State of California

    The U.S. District Court for the Eastern District of Oklahoma unsealed a grand jury indictment recently charging an Oklahoma man with violations of the dog fighting prohibitions of the federal Animal Welfare Act.

    Leshon Eugene Johnson, of Broken Arrow, made his initial appearance in court last week. He is charged with possessing 190 pit bull-type dogs for use in an animal fighting venture and for selling, transporting, and delivering a dog for use in an animal fighting venture. Federal authorities seized the 190 dogs from Johnson in October 2024 as authorized under the Animal Welfare Act. This is believed to be the largest number of dogs ever seized from a single person in a federal dog fighting case.

    “Animal abuse is cruel, depraved, and deserves severe punishment,” said Attorney General Pamela Bondi. “The Department of Justice will prosecute this case to the fullest extent of the law and will remain committed to protecting innocent animals from those who would do them harm.”

    “The FBI will not tolerate criminals that harm innocent animals for their twisted form of entertainment,” said FBI Director Kash Patel. “The FBI views animal cruelty investigations as a precursor to larger, organized crime efforts, similar to trafficking and homicides. This is yet another push in the FBI’s crackdown of violent offenders harming our most innocent.”

    “Dog fighting is illegal, and courts have upheld its prosecution time and again,” said Acting Assistant Attorney General Adam Gustafson of the Justice Department’s Environment and Natural Resources Division (ENRD). “This strategic prosecution of an alleged repeat offender led to the seizure of 190 dogs destined for a cruel end. It disrupts a major source of dogs used in other dog fighting ventures.”

    “Dog fighting is a cruel, blood-thirsty venture, not a legitimate business or sporting activity,” said U.S. Attorney Christopher J. Wilson for the Eastern District of Oklahoma. “I applaud the investigative work of the FBI and the Justice Department’s Environment and Natural Resources Division in detecting and dismantling breeding operations which only serve to propagate this deplorable conduct.”

    According to court documents, Johnson ran a dog fighting operation known as “Mal Kant Kennels” in both Broken Arrow and Haskell, Oklahoma. He previously ran “Krazyside Kennels” also out of Oklahoma, which led to his guilty plea on state animal fighting charges in 2004. Johnson selectively bred “champion” and “grand champion” fighting dogs — dogs that have respectively won three or five fights — to produce offspring with fighting traits and abilities desired by him and others for use in dog fights. Johnson marketed and sold stud rights and offspring from winning fighting dogs to other dog fighters looking to incorporate the Mal Kant Kennels “bloodline” into their own dog fighting operations. His trafficking of fighting dogs to other dog fighters across the country contributed to the growth of the dog fighting industry and allowed Johnson to profit financially.

    Under federal law, it is illegal to fight dogs in a venture that effects interstate commerce and to possess, train, transport, deliver, sell, purchase, or receive dogs for fighting purposes.

    If convicted, Johnson faces a maximum penalty on each count of five years in prison and a $250,000 fine.

    The FBI’s Shreveport Resident Agency office is investigating the case.

    Trial Attorney Sarah Brown and Senior Trial Attorney Ethan Eddy of ENRD’s Environmental Crimes Section are prosecuting the case, with assistance from Assistant U.S. Attorney Jordan Howanitz for the Eastern District of Oklahoma.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL OSI USA News –

  • MIL-OSI Security: Oklahoma Man Charged with Operating Large-Scale Dog Fighting and Trafficking Venture

    Source: United States Attorneys General 9

    The U.S. District Court for the Eastern District of Oklahoma unsealed a grand jury indictment recently charging an Oklahoma man with violations of the dog fighting prohibitions of the federal Animal Welfare Act.

    Leshon Eugene Johnson, of Broken Arrow, made his initial appearance in court last week. He is charged with possessing 190 pit bull-type dogs for use in an animal fighting venture and for selling, transporting, and delivering a dog for use in an animal fighting venture. Federal authorities seized the 190 dogs from Johnson in October 2024 as authorized under the Animal Welfare Act. This is believed to be the largest number of dogs ever seized from a single person in a federal dog fighting case.

    “Animal abuse is cruel, depraved, and deserves severe punishment,” said Attorney General Pamela Bondi. “The Department of Justice will prosecute this case to the fullest extent of the law and will remain committed to protecting innocent animals from those who would do them harm.”

    “The FBI will not tolerate criminals that harm innocent animals for their twisted form of entertainment,” said FBI Director Kash Patel. “The FBI views animal cruelty investigations as a precursor to larger, organized crime efforts, similar to trafficking and homicides. This is yet another push in the FBI’s crackdown of violent offenders harming our most innocent.”

    “Dog fighting is illegal, and courts have upheld its prosecution time and again,” said Acting Assistant Attorney General Adam Gustafson of the Justice Department’s Environment and Natural Resources Division (ENRD). “This strategic prosecution of an alleged repeat offender led to the seizure of 190 dogs destined for a cruel end. It disrupts a major source of dogs used in other dog fighting ventures.”

    “Dog fighting is a cruel, blood-thirsty venture, not a legitimate business or sporting activity,” said U.S. Attorney Christopher J. Wilson for the Eastern District of Oklahoma. “I applaud the investigative work of the FBI and the Justice Department’s Environment and Natural Resources Division in detecting and dismantling breeding operations which only serve to propagate this deplorable conduct.”

    According to court documents, Johnson ran a dog fighting operation known as “Mal Kant Kennels” in both Broken Arrow and Haskell, Oklahoma. He previously ran “Krazyside Kennels” also out of Oklahoma, which led to his guilty plea on state animal fighting charges in 2004. Johnson selectively bred “champion” and “grand champion” fighting dogs — dogs that have respectively won three or five fights — to produce offspring with fighting traits and abilities desired by him and others for use in dog fights. Johnson marketed and sold stud rights and offspring from winning fighting dogs to other dog fighters looking to incorporate the Mal Kant Kennels “bloodline” into their own dog fighting operations. His trafficking of fighting dogs to other dog fighters across the country contributed to the growth of the dog fighting industry and allowed Johnson to profit financially.

    Under federal law, it is illegal to fight dogs in a venture that effects interstate commerce and to possess, train, transport, deliver, sell, purchase, or receive dogs for fighting purposes.

    If convicted, Johnson faces a maximum penalty on each count of five years in prison and a $250,000 fine.

    The FBI’s Shreveport Resident Agency office is investigating the case.

    Trial Attorney Sarah Brown and Senior Trial Attorney Ethan Eddy of ENRD’s Environmental Crimes Section are prosecuting the case, with assistance from Assistant U.S. Attorney Jordan Howanitz for the Eastern District of Oklahoma.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI –