Category: Entertainment

  • MIL-OSI: Societe Generale: shares & voting rights as of 28 July 2025

    Source: GlobeNewswire (MIL-OSI)

    NUMBER OF SHARES COMPOSING CURRENT SHARE CAPITAL AND TOTAL NUMBER OF VOTING RIGHTS AS OF 28 JULY 2025

    Regulated Information

    Paris, 30 July 2025

    Information about the total number of voting rights and shares pursuant to Article L.233-8 II of the French Commercial Code and Article 223-16 of the AMF General Regulations.

    Date Number of shares composing current share capital Total number of
    voting rights
    28 July 2025 785,180,327

    Gross: 874,777,040

    Press contacts:

    Jean-Baptiste Froville_+33 1 58 98 68 00_ jean-baptiste.froville@socgen.com
    Fanny Rouby_+33 1 57 29 11 12_ fanny.rouby@socgen.com

    Societe Generale

    Societe Generale is a top tier European Bank with around 119,000 employees serving more than 26 million clients in 62 countries across the world. We have been supporting the development of our economies for 160 years, providing our corporate, institutional, and individual clients with a wide array of value-added advisory and financial solutions. Our long-lasting and trusted relationships with the clients, our cutting-edge expertise, our unique innovation, our ESG capabilities and leading franchises are part of our DNA and serve our most essential objective – to deliver sustainable value creation for all our stakeholders.

    The Group runs three complementary sets of businesses, embedding ESG offerings for all its clients:

    • French Retail, Private Banking and Insurance, with leading retail bank SG and insurance franchise, premium private banking services, and the leading digital bank BoursoBank.
    • Global Banking and Investor Solutions, a top tier wholesale bank offering tailored-made solutions with distinctive global leadership in equity derivatives, structured finance and ESG.
    • Mobility, International Retail Banking and Financial Services, comprising well-established universal banks (in Czech Republic, Romania and several African countries), Ayvens (the new ALD I LeasePlan brand), a global player in sustainable mobility, as well as specialized financing activities.

    Committed to building together with its clients a better and sustainable future, Societe Generale aims to be a leading partner in the environmental transition and sustainability overall. The Group is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).

    For more information, you can follow us on Twitter/X @societegenerale or visit our website societegenerale.com.

    Attachment

    The MIL Network

  • MIL-OSI: WavePoint Debuts America’s Most Accurate Gunshot Detection at FBINAA Conference

    Source: GlobeNewswire (MIL-OSI)

    COLUMBIA, Md., July 30, 2025 (GLOBE NEWSWIRE) — WavePoint Solutions, a leader in radar-powered public safety technologies, will unveil a game-changing gunshot detection system at the 2025 FBI National Academy Associates (FBINAA) Annual Training Conference, Booth #1000.

    Originally developed for U.S. military sniper detection, this compact, self-contained system uses radar—not microphones—to track the trajectory of a bullet and locate a shooter’s position. It detects the shot. Not just the bang. Unlike acoustic-based gunshot detection systems. That means NO FALSE ALARMS, no missed shots and no guessing—just bulletproof detection you can trust when it matters most.

    “Only a bullet will activate the system, not sound,” said David Smith, President at WavePoint. “WavePoint was built to stop threats faster and more effectively —other systems listen. We see.”

    WavePoint Solutions gun shot detection sensor         

    Why This Matters

    • Radar over acoustics: Detects the actual bullet path, not just the sound.
    • Zero false alarms: No more alerts triggered by fireworks, backfires, or background noise.
    • Instant awareness: Delivers pinpoint accuracy and real-time situational data.
    • Military-engineered. Public safety ready. Compact, self-contained, and reliable in any environment.

    See bulletproof detection up close. Visit WavePoint at Booth #1000, August 2–4 at the Baltimore Convention Center, and meet the engineers driving the future of public safety.

    About WavePoint Solutions

    WavePoint is redefining public safety with America’s most accurate and only radar-powered gunshot detection system. Through our team’s expertise in radar technologies, we innovate public safety solutions that make detection bulletproof, response faster and communities safer. Built on military-grade reliability and radar precision, we help law enforcement know the path—and stop the threat. Learn more at www.wavepointsolution.com.

    Media Contact:

    David J Smith

    President

    978-397-2338

    dsmith@wavepointsolutions.com

    www.wavepointsolution.com

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/3c7085aa-7a0f-450b-8dda-886646005510

    https://www.globenewswire.com/NewsRoom/AttachmentNg/86771712-acd1-44d4-b515-8d562ab68949

    The MIL Network

  • MIL-OSI Asia-Pac: LCQ14:Measures to assist young people in home ownership

    Source: Hong Kong Government special administrative region – 4

         Following is a question by the Hon Kenneth Leung and a written reply by the Deputy Chief Secretary for Administration, who is undertaking the duties of the Secretary for Housing, Mr Cheuk Wing-hing, in the Legislative Council today (July 30):
     
    Question:
     
         In recent years, the current-term Government has actively encouraged young people to move up the housing ladder and has put in place a number of measures to assist young people in home ownership. In this connection, will the Government inform this Council:
     
    (1) among the applicants for the White Form Secondary Market Scheme 2024 (WSM 2024), of the number of young applicants under the Youth Scheme (WSM) and their percentage, with a breakdown by age group (i.e. aged 18 to 29 and aged 30 to 39);
     
    (2) out of the 6 000 quota under WSM 2024, of the number of those ultimately allocated to applicants aged under 40; whether the authorities will further increase the quota for the Youth Scheme (WSM) in the light of the response received and the demand of young people for home ownership;
     
    (3) whether it has compiled statistics on the respective numbers of applications for 80 per cent and 90 per cent loan-to-value (LTV) mortgage loans under the Mortgage Insurance Programme (MIP) in each of the past five years, and the respective percentages of such numbers in the total number of new mortgage loans approved each year; among the applicants for 80 per cent and 90 per cent LTV mortgage loans, of the number of young applicants aged under 40;
     
    (4) given that the HKMC Insurance Limited (HKMCI) announced in August last year a new arrangement, in which a waiver of the owner occupancy requirement under MIP will be granted to an eligible homeowner (such as a homeowner’s family expecting newborn(s), resulting in a change in housing needs) for renting out the property, whether the Government knows if HKMCI will consider enhancing such measure (such as expanding the eligibility criteria from families with newborn(s) to include families with young child or children as well), thereby enabling more young families to change residence based on family needs;
     
    (5) as it is learnt that some young families who previously acquired mortgage loans with a high LTV ratio through MIP find it difficult to replace their properties due to property price adjustments, and some even find themselves in negative equity, thus affecting their life planning, whether the Government has conducted surveys and studies, compiled statistics, and monitored on how such situation has impacted young families, and taken timely measures to prevent the problem from worsening; and
     
    (6) whether it will further assist young people in home ownership under the subsidised housing policies, such as adjusting the proportion of subsidised housing supply, extending the Youth Scheme to subsidised housing provided by the Hong Kong Housing Society, and increasing the annual number of applications that can be made for subsidised housing and the proportion of larger flats available, thereby making subsidised housing an important channel for young people to purchase their first home?
     
    Reply:
     
    President,
     
         Since taking office, the current-term Government has actively implemented multiple measures to “enhance speed, quantity, efficiency and quality” in public housing supply. With our unremitting efforts, the problem of back-loaded public housing supply has completely turned around. Coupled with 30 000 Light Public Housing units, the total public housing supply in the coming five years (i.e. 2025-26 to 2029-30) will reach 197 000 units, which is 85 per cent higher than that of the first five year period since the current-term Government took office (i.e. 2022-23 to 2026-27), providing a solid foundation for citizens to live and work in contentment. The Hong Kong Housing Authority (HA) has also been striving to enhance the housing ladder by assisting low- to middle-income families to purchase their own homes through the sale of subsidised sale flats (SSF), and encouraging them to move up the housing ladder as appropriate according to their own affordability.
     
         We notice that many young people are working hard to achieve upward mobility through accumulation of experience and savings. Among buyers of various types of SSF, young people under the age of 40 have always been the majority. For instance, nearly half of the successful applicants for first-hand Home Ownership Scheme (HOS) flats are under the age of 40. Around 80 per cent of applicants and buyers under the White Form Secondary Market Scheme (WSM) are also young people under the age of 40. In fact, the selling prices of SSF are affordable for young people. Taking HOS 2024 as an example, after applying the affordability benchmarks calculation, the flats are sold at around 70 per cent of the market price. Based on the average selling price, a flat of about 380 square feet in saleable area costs only around $2.7 million. As the HA provides a mortgage default guarantee for buyers of SSF, generally, White Form buyers can secure a mortgage loan at 90 per cent of the flat price. Assuming an interest rate at 3.5 per cent and a 30-year mortgage term, young people would only need to make a down payment of about $270,000, with monthly mortgage payments of $10,900, to become homeowners.
     
         To further assist young people, the HA has introduced a series of measures to facilitate their flat purchase. First, starting from the next HOS sale exercise, the HA will allocate an extra ballot number to young family and one-person applicants aged below 40 with White Form status. As for the secondary market, starting from WSM 2024, the HA has increased the quota to 6 000 by 1 500, all of which will be allocated to young family and one-person applicants under the age of 40.
     
         Meanwhile, the Hong Kong Housing Society (HKHS), as a close partner of the Government in housing policies, also fully supports the Government’s relevant housing initiatives in helping young people realise their home ownership aspirations, including the allocation of an additional ballot number to White Form young family and one-person applicants aged below 40 for the purchase of SSF. The HKHS will continue to make reference to the relevant arrangements of the HA and actively work towards the same.
     
         In addition, the Government also assists those higher-income persons who are not eligible for HOS and yet cannot afford private housing to achieve their home ownership aspirations through Starter Homes for Hong Kong Residents (SH) projects. Apart from the first two SH projects offered for sale by the Urban Renewal Authority (i.e. eResidence Towers 1 and 2, as well as eResidence Tower 3) with a total of over 600 SH units sold, the Government is also taking forward a few other SH projects, which will provide a total of around 5 000 SH units from the next few years onwards. Amongst applicants and final purchasers of SH units offered for sale in the past, around 85 per cent were youth aged 40 or below.
     
         Besides providing various types of subsidised housing, the Government has also implemented other measures to assist citizens in home purchase. The current-term Government has since February 2024 abolished all demand-side management measures for residential properties. The Hong Kong Monetary Authority has also since October 2024 adjusted the countercyclical macroprudential measures for property mortgage loans. The maximum loan-to-value (LTV) ratio and debt servicing ratio (DSR) limit were reverted to the pre-2009 levels before the countercyclical macroprudential measures were first introduced, with the maximum LTV ratio for all residential properties adjusted to 70 per cent, regardless of the value of the property, and the DSR limit adjusted to 50 per cent, providing facilitation to persons with different needs for property purchase. Individuals may also obtain high LTV ratio mortgage loans through the Mortgage Insurance Programme (MIP) according to their own needs. In particular, for first-time homebuyers with regular income purchasing properties priced at $10 million or below, the LTV ratio can be up to 90 per cent, which greatly reduces their down payment burden. Meanwhile, to provide comprehensive support for citizens and young people who have aspirations in purchasing flats, the Government has since February 26, 2025 adjusted the value bands of Ad Valorem Stamp Duty payable for sale and purchase or transfer of residential and non-residential properties, raising the maximum value of properties chargeable to $100 stamp duty from $3 million to $4 million. As for SSF, since most units are priced below $4 million (taking HOS 2024 as an example, the average selling price is around $2.7 million), buyers may thus benefit from the aforementioned reduction in stamp duty to $100, with savings to nearly $60,000.
     
         In consultation with the Financial Services and the Treasury Bureau, our reply to the questions raised by the Hon Kenneth Leung is as follows:
     
    (1) During the application period of WSM 2024, the HA received a total of around 34 000 applications. The oversubscription rate is about five times, reflecting the persistent strong demand for second hand SSF of citizens. Among all of the applications received, over 80 per cent came from young applicants opting to join the newly implemented Youth Scheme (WSM), showing that the scheme was well received by the young applicants. Regarding the number and age distribution of young applicants who opted for the Youth Scheme (WSM) under WSM 2024, please refer to Annex 1.
     
    (2) Balloting for WSM 2024 was conducted in April 2025. The HA expects that approval letters will be issued to successful applicants in the third/fourth quarter of 2025. Within the specified period, holders of the approval letters may apply for Certificate of Eligibility to Purchase (valid for 12 months) to purchase a SSF with premium unpaid. The HA will continuously monitor factors including the quota utilisation, demand for SSF, overall market conditions, etc, to make timely adjustments to both the total number of quota and the allocations under the Youth Scheme (WSM).
     
    (3) The MIP is administered by the HKMC Insurance Limited (HKMCI) for promoting home ownership in Hong Kong. When approving residential mortgage loans, banks have to comply with LTV requirement on owner-occupied residential mortgage lending, which is currently set at 70 per cent. With the MIP providing mortgage insurance to banks, banks can provide mortgage loans with higher LTV ratio (i.e. above 70 per cent) without incurring additional credit risk. As long as an application meets the relevant eligibility criteria, the bank can generally provide a mortgage loan of up to 80 per cent LTV ratio under the MIP. For first-time homebuyers with fixed salaries, the maximum LTV ratio can even reach 90 per cent, substantially reducing the down payment burden for homebuyers.
     
         The numbers of new loans drawn down under the MIP in the past five years (categorised by LTV ratio), and their respective proportions to the total number of new loans drawn down (i.e. figures in the brackets) are set out at Annex 2.
     
         Among above new loans drawn down, the numbers of cases involving at least one homeowner aged below 40, and their respective proportions to the total number of new loans drawn down (categorised by LTV ratio) (i.e. figures in the brackets) are set out at Annex 3.
     
    (4) In August 2024, the HKMCI put in place a new arrangement under the MIP to approve on a case-by-case basis eligible homeowners’ applications for renting out their self-occupied properties, so as to help them meet their special needs arising from changes in personal or family circumstances (new arrangement). The new arrangement has been implemented for around one year smoothly, offering substantial assistance to homeowners with special needs. Under the new arrangement, in addition to the situation that the homeowner’s family is expecting newborn(s)/adopting child or children or the homeowner has become unemployed, any homeowner who has other special needs and has been residing in the relevant property for not less than 12 months may also submit an application to the HKMCI through a bank for renting out the self-occupied property. The existing mechanism already allows homeowners who have young children and are able to meet the self-occupancy requirement to submit applications for renting out their self-occupied properties based on their special needs. The HKMCI will consider approving the relevant applications on a case-by-case basis.
     
    (5) The objective of the MIP is to promote home ownership and provide citizens with an additional option for financing. As the fluctuation of the property market is subject to various factors, citizens should take into consideration their needs for home ownership and repayment capability, and assess the risks carefully.
     
    (6) As mentioned above, both the HA and the HKHS are making relentless efforts to optimise various arrangements to help young people with home ownership aspirations strive to climb onto the home ownership ladder. The Chief Executive announced in the 2024 Policy Address that the HA would adjust the ratio between public rental housing (PRH) (including Green Form Subsidised Home Ownership Scheme flats) and SSF from 7:3 to 6:4 in order to increase the supply of SSF. In the next five years (i.e. 2025-26 to 2029-30), the HA and the HKHS will complete about 56 500 SSF. Meanwhile, the HA is implementing the arrangement announced in the 2022 Policy Address regarding the minimum floor area for new flats. The saleable area of all SSF completed from 2026-27 onwards will be no less than 26 square metres in general. Furthermore, in the latter part of the coming decade, we will reserve 10 per cent increase in floor area for public housing. We are also exploring other measures to further assist young people in purchasing SSF and the measures will be launched in a timely manner. That said, we would like to take this opportunity to appeal to young people once again to unleash their potential and create a more prosperous future, but not to limit their room for development just for the sake of meeting the eligibility criteria for PRH application. In the past five years (i.e. 2020-21 to 2024-25), the average age of non-elderly one-person applicants that were housed to PRH was 57 years old. After understanding the above opportunities and support provided by the Government for young people, young people should plan ahead of time so as to climb higher up the housing ladder.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: President Lai meets delegation from US National Endowment for Democracy

    Source: Republic of China Taiwan

    Details
    2025-07-24
    President Lai meets Somaliland Foreign Minister Abdirahman Dahir Adam  
    On the morning of July 24, President Lai Ching-te met with a delegation led by Republic of Somaliland Minister of Foreign Affairs and International Cooperation Abdirahman Dahir Adam. In remarks, President Lai thanked the Somaliland government for its longstanding, staunch support for Taiwan-Somaliland relations. The president mentioned that this year marks the fifth anniversary of Taiwan and Somaliland’s mutual establishment of representative offices and that our exchanges in various areas have yielded significant results. He expressed hope for continuing to deepen our partnership, advancing our bilateral friendship and fruitful cooperation. A translation of President Lai’s remarks follows: I warmly welcome all of our guests to Taiwan. This is the first visit to Taiwan for Minister Adam, Minister Khadir Hussein Abdi, and Admiral Ahmed Hurre Hariye. I thank you for your high regard and support for Taiwan. I also very much appreciate that Lead Advisor Mohamed Omar Hagi Mohamoud, who served as representative of Somaliland to Taiwan during the past five years, continues deepening Taiwan-Somaliland ties in his new role. Somaliland is renowned as a beacon of democracy in the Horn of Africa. I want to once again congratulate Somaliland on successfully holding presidential and political party elections last November, which garnered praise from the international community. At that time, I appointed Deputy Minister of Foreign Affairs François Chihchung Wu (吳志中) to serve as special envoy and lead a delegation to attend the inauguration of President Abdirahman Mohamed Abdullahi, demonstrating that Taiwan would work closely with Somaliland’s new government to write a new chapter in our friendship. Recently, authoritarian regimes have continued to apply new forms of coercion as they intensify suppression of Taiwan’s and Somaliland’s international participation. In response, our two sides must continue to deepen our partnership and demonstrate the resilience of democratic alliances, as well as our staunch commitment to defending our values.  This year marks the fifth anniversary of Taiwan and Somaliland’s mutual establishment of representative offices. Through our joint efforts, we have continued to expand exchanges in various areas, yielding significant results. This afternoon, we will also sign an agreement on coast guard cooperation, launching bilateral cooperation in maritime affairs. Regarding President Abdullahi’s focus on maritime security, the blue economy, and other policy objectives, we can strengthen our bilateral partnership moving forward. In addition, we also hope to work together with like-minded countries such as the United States, and through trilateral or multilateral cooperation platforms, realize the strategic goal of a non-red Somaliland coastline. I want to thank the Somaliland government once more for its longstanding, staunch support for Taiwan-Somaliland relations. I look forward to working with all of you to continue to advance our bilateral friendship and fruitful cooperation. In closing, I once again welcome Minister Adam and the delegation. I have every confidence that, in addition to advancing bilateral cooperation, this trip will allow you to experience Taiwan’s natural beauty and diverse culture. Minister Adam then delivered remarks, thanking the government and people of Taiwan for the warm hospitality they have received since their arrival. He stated that Taiwan is a peaceful nation and that it shares with Somaliland the value of democracy. He stated that we also share the goal of obtaining recognition, so he is glad that the Taiwan-Somaliland relationship is growing by the day. Minister Adam pointed out that there is much pressure that we are both facing in our relationship, but he reassured President Lai that no amount of pressure can change Somaliland’s strong ties with Taiwan. He also thanked the Taiwan government for the help it has proffered to Somaliland, adding that our relationship will only get better. Minister Adam said that Taiwan and Somaliland can cooperate in many areas and that there is more opportunity in Somaliland than any other country, adding that Somaliland is open for investment from Taiwan. Noting that our countries can also collaborate in other areas such as education and maritime security, the minister said that he is glad they will be signing a cooperative agreement in maritime security with Taiwan. He then said he is looking forward to a better relationship in the future. The delegation was accompanied to the Presidential Office by Somaliland Representative to Taiwan Mahmoud Adam Jama Galaal.  

    Details
    2025-07-22
    President Lai meets cross-party Irish Oireachtas delegation
    On the morning of July 22, President Lai Ching-te met with a cross-party delegation from the Oireachtas (parliament) of Ireland. In remarks, President Lai stated that Taiwan and Ireland are both guardians of the values of freedom and democracy. He indicated that Taiwan will continue to take action and show the world that it is a trustworthy democratic partner that can contribute to the international community, saying that we look forward to building an even closer partnership with Ireland as we work together for the well-being of our peoples and for global democracy, peace, and prosperity. A translation of President Lai’s remarks follows: Deputy Speaker John McGuinness is a dear friend of Taiwan who also chairs the Ireland-Taiwan Parliamentary Friendship Association. Thanks to his efforts over the years, support for Taiwan has grown stronger in the Oireachtas. I thank him and all of our guests for traveling such a long way to demonstrate support for Taiwan and open more doors for exchanges and cooperation. Europe is Taiwan’s third largest trading partner and largest source of foreign investment. Ireland is a European stronghold for technology and innovative industries. Just like Taiwan, Ireland is an export-oriented economy. Our industrial structures are highly complementary. We hope that Taiwan’s electronics manufacturing and machinery industries can explore deeper cooperation with Ireland’s ICT software and biopharmaceutical fields, creating win-win outcomes. In May, the Irish government launched its National Semiconductor Strategy, outlining a vision to become a global semiconductor hub. Taiwan is home to the world’s most critical semiconductor ecosystem, and our own industrial development closely parallels that of Ireland. Moreover, we aspire to build non-red technological supply chains with democratic partners. I believe that going forward, Taiwan and Ireland can bolster collaboration so as to upgrade the competitiveness of our respective semiconductor industries. Together, we can help build a values-based economic system for democracies. I was delighted to receive congratulations from Deputy Speaker McGuinness on my election. Taiwan and Ireland are both guardians of the values of freedom and democracy. This visit from our guests further attests to our common beliefs. As authoritarianism continues to expand, Taiwan will continue to take action and show the world that it is a trustworthy democratic partner that can contribute to the international community. We look forward to building an even closer partnership with Ireland as we work together for the well-being of our peoples and for global democracy, peace, and prosperity. Deputy Speaker McGuinness then delivered remarks, stating that he has been to Taiwan on many occasions and that it is a great honor to join President Lai and his staff at the Presidential Office. He said that Ireland has continued to build its strong relationship with Taiwan based on our democratic values and the interests that we have in trade throughout the world, strengthening this relationship based on culture, education, and more. Noting that he served with many other diplomats from Taiwan, he said all had the same goal, which was to further the interests of the Ireland-Taiwan friendship and to ensure that it grows and prospers. The deputy speaker then extended to President Lai the delegation’s best wishes for his term in office, stating that they commit to the same values as the previous friendship groups that have been visiting Taiwan. He went on to say that some members of the group are newly elected, representing the next generation of the association, and that they are committed to working together with Taiwan to stand strong in the defense of democracy. Deputy Speaker McGuinness also noted that the father of Deputy Ken O’Flynn, one of the delegation members, played an important role as a former chairman of the association, remarking that it is good to see such continuity taking place. Deputy Speaker McGuiness said that he believes the world is facing huge challenges and uncertainty in terms of our markets and trade with one another. He said we have to watch for what the United States will do next and be conscious of what China is doing, emphasizing that the European Union stands strong in the center of this, while Ireland plays a huge role in the context of democracy, trade, and the betterment of all things for the citizens that they represent. The deputy speaker then stated that while we focus on the development of AI that is extremely important for all of us, we can work together to ensure that we control AI rather than AI controlling us. He also remarked that we cannot lose sight of our traditional trading means, saying that we have to keep all of our trade together, expand on that trade, and then take on the new technologies that come before us. Deputy Speaker McGuinness concluded his remarks by thanking President Lai for receiving the delegation, stating that they commit to their continuation of support for Taiwan and for democracy. Also in attendance were Deputies Malcolm Byrne and Barry Ward, and Senator Teresa Costello.

    Details
    2025-07-22
    President Lai meets official delegation from European Parliament’s Special Committee on the European Democracy Shield
    On the morning of July 22, President Lai Ching-te met with an official delegation from the European Parliament’s Special Committee on the European Democracy Shield (EUDS). In remarks, President Lai thanked the committee for choosing to visit Taiwan for its first trip to Asia, demonstrating the close ties between Taiwan and Europe. President Lai emphasized that Taiwan, standing at the very frontline of the democratic world, is determined to protect democracy, peace, and prosperity worldwide. He expressed hope that we can share our experiences with Europe to foster even more resilient societies. A translation of President Lai’s remarks follows: Firstly, on behalf of the people of Taiwan, I extend a warm welcome to your delegation, which marks another official visit from the European Parliament. The Special Committee on the EUDS aims to strengthen societal resilience and counter disinformation and hybrid threats. Having been constituted at the beginning of this year, the committee has chosen to visit Taiwan for its first trip to Asia, demonstrating the close ties between Taiwan and Europe and the unlimited possibilities for deepening cooperation on issues of concern. I am also delighted to see many old friends of Taiwan gathered here today. I deeply appreciate your longstanding support for Taiwan. Taiwan and the European Union enjoy close trade and economic relations and share the values of freedom and democracy. However, in recent years, we have both been subjected to information manipulation and infiltration by foreign forces that seek to interfere in democratic elections, foment division in our societies, and shake people’s faith in democracy. Taiwan not only faces an onslaught of disinformation, but also is the target of gray-zone aggression. That is why, after taking office, I established the Whole-of-Society Defense Resilience Committee at the Presidential Office, with myself as convener. The committee is a platform that integrates domestic affairs, national defense, foreign affairs, cybersecurity, and civil resources. It aims to strengthen the capability of Taiwan’s society to defend itself against new forms of threat, pinpoint external and internal vulnerabilities, and bolster overall resilience and security. The efforts that democracies make are not for opposing anyone else; they are for safeguarding the way of life that we cherish – just as Europe has endeavored to promote diversity and human rights. The Taiwanese people firmly believe that when our society is united and people trust one another, we will be able to withstand any form of authoritarian aggression. Taiwan stands at the very frontline of the democratic world. We are determined to protect democracy, peace, and prosperity worldwide. We also hope to share our experiences with Europe and deepen cooperation in such fields as cybersecurity, media literacy, and societal resilience. Thank you once again for visiting Taiwan. Your presence further strengthens the foundations of Taiwan-Europe relations. Let us continue to work together to uphold freedom and democracy and foster even more resilient societies. EUDS Special Committee Chair Nathalie Loiseau then delivered remarks, saying that the delegation has members from different countries, including France, Germany, the Czech Republic, Poland, and Belgium, and different political parties, but that they have in common their desire for stronger relations between the EU and Taiwan. Committee Chair Loiseau stated that the EU and Taiwan, having many things in common, should work more together. She noted that we have strong trade relations, strong investments on both sides, and strong cultural relations, while we are also facing very similar challenges and threats. She said that we are democracies living in a world where autocracies want to weaken and divide democracies. She added that we also face external information manipulation, cyberattacks, sabotage, attempts to capture elites, and every single gray-zone activity that aims to divide and weaken us. Committee Chair Loiseau pointed out another commonality, that we have never threatened our neighbors. She said that we want to live in peace and we care about our people; we want to defend ourselves, not to attack others. We are not being threatened because of what we do, she emphasized, but because of what we are; and thus there is no reason for not working more together to face these threats and attacks. Committee Chair Loiseau said that Taiwan has valuable experience and good practices in the area of societal resilience, and that they are interested in learning more about Taiwan’s whole-of-society approach. They in Europe are facing interference, she said, mainly from Russia, and they know that Russia inspires others. She added that they in the EU also have experience regulating social media in a way which combines freedom of expression and responsibility. In closing, the chair said that they are happy to have the opportunity to exchange views with President Lai and that the European Parliament will continue to strongly support relations between the EU and Taiwan. The delegation also included Members of the European Parliament Engin Eroglu, Tomáš Zdechovský, Michał Wawrykiewicz, Kathleen Van Brempt, and Markéta Gregorová.

    Details
    2025-07-17
    President Lai meets President of Guatemalan Congress Nery Abilio Ramos y Ramos  
    On the morning of July 17, President Lai Ching-te met with a delegation led by Nery Abilio Ramos y Ramos, the president of the Congress of the Republic of Guatemala. In remarks, President Lai thanked Congress President Ramos and the Guatemalan Congress for their support for Taiwan, and noted that official diplomatic relations between Taiwan and Guatemala go back more than 90 years. As important partners in the global democratic community, the president said, the two nations will continue moving forward together in joint defense of the values of democracy and freedom, and will cooperate to promote regional and global prosperity and development. A translation of President Lai’s remarks follows:  I recall that when Congress President Ramos visited Taiwan in July last year, he put forward many ideas about how our countries could promote bilateral cooperation and exchanges. Now, a year later, he is leading another cross-party delegation from the Guatemalan Congress on a visit, demonstrating support for Taiwan and continuing to help deepen our diplomatic ties. In addition to extending a sincere welcome to the distinguished delegation members who have traveled so far to be here, I would also like to express our concern and condolences for everyone in Guatemala affected by the earthquake that struck earlier this month. We hope that the recovery effort is going smoothly. Official diplomatic relations between Taiwan and Guatemala go back more than 90 years. In such fields as healthcare, agriculture, education, and women’s empowerment, we have continually strengthened our cooperation to benefit our peoples. Just last month, Guatemala’s President Bernardo Arévalo and the First Lady led a delegation on a state visit to Taiwan. President Arévalo and I signed a letter of intent for semiconductor cooperation, and also witnessed the signing of cooperation documents to establish a political consultation mechanism and continue to promote bilateral investment. This has laid an even sounder foundation for bilateral exchanges and cooperation, and will help enhance both countries’ international competitiveness. Taiwan is currently running a semiconductor vocational training program, helping Guatemala cultivate semiconductor talent and develop its tech industry, and demonstrating our determination to share experience with democratic partners. At the same time, we continue to assist Taiwanese businesses in their efforts to develop overseas markets with Guatemala as an important base, spurring industrial development in both countries and increasing economic and trade benefits. I want to thank Congress President Ramos and the Guatemalan Congress for their continued support for Taiwan’s international participation. Representing the Guatemalan Congress, Congress President Ramos has signed resolutions in support of Taiwan, and has also issued statements addressing China’s misinterpretation of United Nations General Assembly Resolution 2758. Taiwan and Guatemala, as important partners in the global democratic community, will continue moving forward together in joint defense of the values of democracy and freedom, and will cooperate to promote regional and global prosperity and development. Congress President Ramos then delivered remarks, first noting that the members of the delegation are not only from different parties, but also represent different classes, cultures, professions, and departments, which shows that the diplomatic ties between Guatemala and the Republic of China (Taiwan) are based on firm friendships at all levels and in all fields. Noting that this was his second time to visit Taiwan and meet with President Lai, Congress President Ramos thanked the government of Taiwan for its warm hospitality. With the international situation growing more complex by the day, he said, Guatemala highly values its longstanding friendship and cooperative ties with Taiwan, and hopes that both sides can continue to deepen their cooperation in such areas as the economy, technology, education, agriculture, and culture, and work together to spur sustainable development in each of our countries. Congress President Ramos said that the way the Taiwan government looks after the well-being of its people is an excellent model for how other countries should promote national development and social well-being. Accordingly, he said, the Guatemalan Congress has stood for justice and, for a second time, adopted a resolution backing Taiwan’s participation in the World Health Assembly. Regarding President Arévalo’s state visit to Taiwan the previous month, Congress President Ramos commented that this high-level interaction has undoubtedly strengthened the diplomatic ties between Taiwan and Guatemala and led to more opportunities for cooperation. Congress President Ramos emphasized that democracy, freedom, and human rights are universal values that bind Taiwan and Guatemala together, and that he is confident the two countries’ diplomatic ties will continue to grow deeper. In closing, on behalf of the Republic of Guatemala, Congress President Ramos presented President Lai with a Chinese translation of the resolution that the Guatemalan Congress proposed to the UN in support of Taiwan’s participation in international organizations, demonstrating the staunch bonds of friendship between the two countries. The delegation was accompanied to the Presidential Office by Guatemala Ambassador Luis Raúl Estévez López.  

    Details
    2025-07-08
    President Lai meets delegation led by Foreign Minister Jean-Victor Harvel Jean-Baptiste of Republic of Haiti
    On the morning of July 8, President Lai Ching-te met with a delegation led by Minister of Foreign Affairs Jean-Victor Harvel Jean-Baptiste of the Republic of Haiti and his wife. In remarks, President Lai noted that our two countries will soon mark the 70th anniversary of diplomatic relations and that our exchanges have been fruitful in important areas such as public security, educational cooperation, and infrastructure. The president stated that Taiwan will continue to work together with Haiti to promote the development of medical and health care, food security, and construction that benefits people’s livelihoods. The president thanked Haiti for supporting Taiwan’s international participation and expressed hope that both countries will continue to support each other, deepen cooperation, and face various challenges together. A translation of President Lai’s remarks follows: I am delighted to meet and exchange ideas with Minister Jean-Baptiste, his wife, and our distinguished guests. Minister Jean-Baptiste is the highest-ranking official from Haiti to visit Taiwan since former President Jovenel Moïse visited in 2018, demonstrating the importance that the Haitian government attaches to our bilateral diplomatic ties. On behalf of the Republic of China (Taiwan), I extend a sincere welcome. Next year marks the 70th anniversary of the establishment of diplomatic ties between our two countries. Our bilateral exchanges have been fruitful in important areas such as public security, educational cooperation, and infrastructure. Over the past few years, Haiti has faced challenges in such areas as food supply and healthcare. Taiwan will continue to work together with Haiti through various cooperative programs to promote the development of medical and health care, food security, and construction that benefits people’s livelihoods. I want to thank the government of Haiti and Minister Jean-Baptiste for speaking out in support of Taiwan on the international stage for many years. Minister Jean-Baptiste’s personal letter to the World Health Organization Secretariat in May this year and Minister of Public Health and Population Bertrand Sinal’s public statement during the World Health Assembly both affirmed Taiwan’s efforts and contributions to global public health and supported Taiwan’s international participation, for which we are very grateful. I hope that Taiwan and Haiti will continue to support each other and deepen cooperation. I believe that Minister Jean-Baptiste’s visit will open up more opportunities for cooperation for both countries, helping Taiwan and Haiti face various challenges together. In closing, I once again offer a sincere welcome to the delegation led by Minister Jean-Baptiste, and ask him to convey greetings from Taiwan to Prime Minister Alix Didier Fils-Aimé and the members of the Transitional Presidential Council. Minister Jean-Baptiste then delivered remarks, saying that he is extremely honored to visit Taiwan and reaffirm the solid and friendly cooperative relationship based on mutual respect between the Republic of Haiti and the Republic of China (Taiwan), which will soon mark its 70th anniversary. He also brought greetings to President Lai from Haiti’s Transitional Presidential Council and Prime Minister Fils-Aimé. Minister Jean-Baptiste emphasized that over the past few decades, despite the great geographical distance and developmental and cultural differences between our two countries, we have nevertheless established a firm friendship and demonstrated to the world the progress resulting from the mutual assistance and cooperation between our peoples. Minister Jean-Baptiste pointed out that our two countries cooperate closely in agriculture, health, education, and community development and have achieved concrete results. Taiwan’s voice, he said, is thus essential for the people of Haiti. He noted that Taiwan also plays an important role in peace and innovation and actively participates in global cooperative efforts. Pointing out that the world is currently facing significant challenges and that Haiti is experiencing its most difficult period in history, Minister Jean-Baptiste said that at this time, Taiwan and Haiti need to unite, help each other, and jointly think about how to move forward and deepen bilateral relations to benefit the peoples of both countries. Minister Jean-Baptiste said that he is pleased that throughout our solid and friendly diplomatic relationship, both countries have demonstrated mutual trust, mutual respect, and the values we jointly defend. He then stated his belief that Haiti and Taiwan will together create a cooperation model and future that are sincere, friendly, and sustainable. The delegation was accompanied to the Presidential Office by Chargé d’Affaires a.i. Francilien Victorin of the Embassy of the Republic of Haiti in Taiwan.

    Details
    2025-05-20
    President Lai interviewed by Nippon Television and Yomiuri TV
    In a recent interview on Nippon Television’s news zero program, President Lai Ching-te responded to questions from host Mr. Sakurai Sho and Yomiuri TV Shanghai Bureau Chief Watanabe Masayo on topics including reflections on his first year in office, cross-strait relations, China’s military threats, Taiwan-United States relations, and Taiwan-Japan relations. The interview was broadcast on the evening of May 19. During the interview, President Lai stated that China intends to change the world’s rules-based international order, and that if Taiwan were invaded, global supply chains would be disrupted. Therefore, he said, Taiwan will strengthen its national defense, prevent war by preparing for war, and achieve the goal of peace. The president also noted that Taiwan’s purpose for developing drones is based on national security and industrial needs, and that Taiwan hopes to collaborate with Japan. He then reiterated that China’s threats are an international problem, and expressed hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war. Following is the text of the questions and the president’s responses: Q: How do you feel as you are about to round out your first year in office? President Lai: When I was young, I was determined to practice medicine and save lives. When I left medicine to go into politics, I was determined to transform Taiwan. And when I was sworn in as president on May 20 last year, I was determined to strengthen the nation. Time flies, and it has already been a year. Although the process has been very challenging, I am deeply honored to be a part of it. I am also profoundly grateful to our citizens for allowing me the opportunity to give back to our country. The future will certainly be full of more challenges, but I will do everything I can to unite the people and continue strengthening the nation. That is how I am feeling now. Q: We are now coming up on the 80th anniversary of the end of World War II, and over this period, we have often heard that conflict between Taiwan and the mainland is imminent. Do you personally believe that a cross-strait conflict could happen? President Lai: The international community is very much aware that China intends to replace the US and change the world’s rules-based international order, and annexing Taiwan is just the first step. So, as China’s military power grows stronger, some members of the international community are naturally on edge about whether a cross-strait conflict will break out. The international community must certainly do everything in its power to avoid a conflict in the Taiwan Strait; there is too great a cost. Besides causing direct disasters to both Taiwan and China, the impact on the global economy would be even greater, with estimated losses of US$10 trillion from war alone – that is roughly 10 percent of the global GDP. Additionally, 20 percent of global shipping passes through the Taiwan Strait and surrounding waters, so if a conflict breaks out in the strait, other countries including Japan and Korea would suffer a grave impact. For Japan and Korea, a quarter of external transit passes through the Taiwan Strait and surrounding waters, and a third of the various energy resources and minerals shipped back from other countries pass through said areas. If Taiwan were invaded, global supply chains would be disrupted, and therefore conflict in the Taiwan Strait must be avoided. Such a conflict is indeed avoidable. I am very thankful to Prime Minister of Japan Ishiba Shigeru and former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio, as well as US President Donald Trump and former President Joe Biden, and the other G7 leaders, for continuing to emphasize at international venues that peace and stability across the Taiwan Strait are essential components for global security and prosperity. When everyone in the global democratic community works together, stacking up enough strength to make China’s objectives unattainable or to make the cost of invading Taiwan too high for it to bear, a conflict in the strait can naturally be avoided. Q: As you said, President Lai, maintaining peace and stability across the Taiwan Strait is also very important for other countries. How can war be avoided? What sort of countermeasures is Taiwan prepared to take to prevent war? President Lai: As Mr. Sakurai mentioned earlier, we are coming up on the 80th anniversary of the end of WWII. There are many lessons we can take from that war. First is that peace is priceless, and war has no winners. From the tragedies of WWII, there are lessons that humanity should learn. We must pursue peace, and not start wars blindly, as that would be a major disaster for humanity. In other words, we must be determined to safeguard peace. The second lesson is that we cannot be complacent toward authoritarian powers. If you give them an inch, they will take a mile. They will keep growing, and eventually, not only will peace be unattainable, but war will be inevitable. The third lesson is why WWII ended: It ended because different groups joined together in solidarity. Taiwan, Japan, and the Indo-Pacific region are all directly subjected to China’s threats, so we hope to be able to join together in cooperation. This is why we proposed the Four Pillars of Peace action plan. First, we will strengthen our national defense. Second, we will strengthen economic resilience. Third is standing shoulder to shoulder with the democratic community to demonstrate the strength of deterrence. Fourth is that as long as China treats Taiwan with parity and dignity, Taiwan is willing to conduct exchanges and cooperate with China, and seek peace and mutual prosperity. These four pillars can help us avoid war and achieve peace. That is to say, Taiwan hopes to achieve peace through strength, prevent war by preparing for war, keeping war from happening and pursuing the goal of peace. Q: Regarding drones, everyone knows that recently, Taiwan has been actively researching, developing, and introducing drones. Why do you need to actively research, develop, and introduce new drones at this time? President Lai: This is for two purposes. The first is to meet national security needs. The second is to meet industrial development needs. Because Taiwan, Japan, and the Philippines are all part of the first island chain, and we are all democratic nations, we cannot be like an authoritarian country like China, which has an unlimited national defense budget. In this kind of situation, island nations such as Taiwan, Japan, and the Philippines should leverage their own technologies to develop national defense methods that are asymmetric and utilize unmanned vehicles. In particular, from the Russo-Ukrainian War, we see that Ukraine has successfully utilized unmanned vehicles to protect itself and prevent Russia from unlimited invasion. In other words, the Russo-Ukrainian War has already proven the importance of drones. Therefore, the first purpose of developing drones is based on national security needs. Second, the world has already entered the era of smart technology. Whether generative, agentic, or physical, AI will continue to develop. In the future, cars and ships will also evolve into unmanned vehicles and unmanned boats, and there will be unmanned factories. Drones will even be able to assist with postal deliveries, or services like Uber, Uber Eats, and foodpanda, or agricultural irrigation and pesticide spraying. Therefore, in the future era of comprehensive smart technology, developing unmanned vehicles is a necessity. Taiwan, based on industrial needs, is actively planning the development of drones and unmanned vehicles. I would like to take this opportunity to express Taiwan’s hope to collaborate with Japan in the unmanned vehicle industry. Just as we do in the semiconductor industry, where Japan has raw materials, equipment, and technology, and Taiwan has wafer manufacturing, our two countries can cooperate. Japan is a technological power, and Taiwan also has significant technological strengths. If Taiwan and Japan work together, we will not only be able to safeguard peace and stability in the Taiwan Strait and security in the Indo-Pacific region, but it will also be very helpful for the industrial development of both countries. Q: The drones you just described probably include examples from the Russo-Ukrainian War. Taiwan and China are separated by the Taiwan Strait. Do our drones need to have cross-sea flight capabilities? President Lai: Taiwan does not intend to counterattack the mainland, and does not intend to invade any country. Taiwan’s drones are meant to protect our own nation and territory. Q: Former President Biden previously stated that US forces would assist Taiwan’s defense in the event of an attack. President Trump, however, has yet to clearly state that the US would help defend Taiwan. Do you think that in such an event, the US would help defend Taiwan? Or is Taiwan now trying to persuade the US? President Lai: Former President Biden and President Trump have answered questions from reporters. Although their responses were different, strong cooperation with Taiwan under the Biden administration has continued under the Trump administration; there has been no change. During President Trump’s first term, cooperation with Taiwan was broader and deeper compared to former President Barack Obama’s terms. After former President Biden took office, cooperation with Taiwan increased compared to President Trump’s first term. Now, during President Trump’s second term, cooperation with Taiwan is even greater than under former President Biden. Taiwan-US cooperation continues to grow stronger, and has not changed just because President Trump and former President Biden gave different responses to reporters. Furthermore, the Trump administration publicly stated that in the future, the US will shift its strategic focus from Europe to the Indo-Pacific. The US secretary of defense even publicly stated that the primary mission of the US is to prevent China from invading Taiwan, maintain stability in the Indo-Pacific, and thus maintain world peace. There is a saying in Taiwan that goes, “Help comes most to those who help themselves.” Before asking friends and allies for assistance in facing threats from China, Taiwan must first be determined and prepared to defend itself. This is Taiwan’s principle, and we are working in this direction, making all the necessary preparations to safeguard the nation. Q: I would like to ask you a question about Taiwan-Japan relations. After the Great East Japan Earthquake in 2011, you made an appeal to give Japan a great deal of assistance and care. In particular, you visited Sendai to offer condolences. Later, you also expressed condolences and concern after the earthquakes in Aomori and Kumamoto. What are your expectations for future Taiwan-Japan exchanges and development? President Lai: I come from Tainan, and my constituency is in Tainan. Tainan has very deep ties with Japan, and of course, Taiwan also has deep ties with Japan. However, among Taiwan’s 22 counties and cities, Tainan has the deepest relationship with Japan. I sincerely hope that both of you and your teams will have an opportunity to visit Tainan. I will introduce Tainan’s scenery, including architecture from the era of Japanese rule, Tainan’s cuisine, and unique aspects of Tainan society, and you can also see lifestyles and culture from the Showa era.  The Wushantou Reservoir in Tainan was completed by engineer Mr. Hatta Yoichi from Kanazawa, Japan and the team he led to Tainan after he graduated from then-Tokyo Imperial University. It has nearly a century of history and is still in use today. This reservoir, along with the 16,000-km-long Chianan Canal, transformed the 150,000-hectare Chianan Plain into Taiwan’s premier rice-growing area. It was that foundation in agriculture that enabled Taiwan to develop industry and the technology sector of today. The reservoir continues to supply water to Tainan Science Park. It is used by residents of Tainan, the agricultural sector, and industry, and even the technology sector in Xinshi Industrial Park, as well as Taiwan Semiconductor Manufacturing Company. Because of this, the people of Tainan are deeply grateful for Mr. Hatta and very friendly toward the people of Japan. A major earthquake, the largest in 50 years, struck Tainan on February 6, 2016, resulting in significant casualties. As mayor of Tainan at the time, I was extremely grateful to then-Prime Minister Abe, who sent five Japanese officials to the disaster site in Tainan the day after the earthquake. They were very thoughtful and asked what kind of assistance we needed from the Japanese government. They offered to provide help based on what we needed. I was deeply moved, as former Prime Minister Abe showed such care, going beyond the formality of just sending supplies that we may or may not have actually needed. Instead, the officials asked what we needed and then provided assistance based on those needs, which really moved me. Similarly, when the Great East Japan Earthquake of 2011 or the later Kumamoto earthquakes struck, the people of Tainan, under my leadership, naturally and dutifully expressed their support. Even earlier, when central Taiwan was hit by a major earthquake in 1999, Japan was the first country to deploy a rescue team to the disaster area. On February 6, 2018, after a major earthquake in Hualien, former Prime Minister Abe appeared in a video holding up a message of encouragement he had written in calligraphy saying “Remain strong, Taiwan.” All of Taiwan was deeply moved. Over the years, Taiwan and Japan have supported each other when earthquakes struck, and have forged bonds that are family-like, not just neighborly. This is truly valuable. In the future, I hope Taiwan and Japan can be like brothers, and that the peoples of Taiwan and Japan can treat one another like family. If Taiwan has a problem, then Japan has a problem; if Japan has a problem, then Taiwan has a problem. By caring for and helping each other, we can face various challenges and difficulties, and pursue a brighter future. Q: President Lai, you just used the phrase “If Taiwan has a problem, then Japan has a problem.” In the event that China attempts to invade Taiwan by force, what kind of response measures would you hope the US military and Japan’s Self-Defense Forces take? President Lai: As I just mentioned, annexing Taiwan is only China’s first step. Its ultimate objective is to change the rules-based international order. That being the case, China’s threats are an international problem. So, I would very much hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war – prevention, after all, is more important than cure.

    MIL OSI Asia Pacific News

  • MIL-OSI USA: Developer Approved for Beacon Metro-North Station

    Source: US State of New York

    overnor Kathy Hochul today announced that the Metropolitan Transportation Authority Board has approved a developer, Jonathan Rose Companies, to transform a parking lot adjacent to the Beacon Metro-North Station into a residential development with 265 units of mixed-income housing. The development is the latest milestone following the Governor’s Executive Actions to repurpose existing underused State-owned sites for housing. The redevelopment will complement the City of Beacon’s efforts to foster greater connectivity between the waterfront, Beacon Station and Main Street. Residents will be able to access midtown Manhattan via Metro-North’s Hudson line in just 78 minutes.

    “The key to making our state a more affordable place to live is simple: build more housing, especially right next door to frequent and reliable transit service,” Governor Hochul said. “By creating new housing next to the Beacon Metro-North station, we are breathing new life into an underutilized site and giving more New Yorkers the opportunity to live in a vibrant community with an express train to New York City just next door. This project is a model for how thoughtful development can strengthen communities and make our state more affordable and livable.”

    Made possible through the Governor’s Redevelopment of Underutilized Sites for Housing (RUSH) program, funding will support a structured parking garage to replace an existing Metro-North commuter parking area with new housing units. The RUSH program is an initiative spearheaded by Governor Hochul to repurpose existing state sites and properties for housing. The initiative builds on the Governor’s Executive Order 30, which directed state agencies and authorities, including the MTA, to identify sites appropriate for housing development.

    MTA Chair and CEO Janno Lieber said, “Transit-oriented development is a double win for the region – creating lively, walkable communities while responding to Governor Hochul’s commitment to new housing. We can’t wait to get started on the Beacon project.”

    MTA Construction & Development President Jamie Torres-Springer said, “We’re proud to turn MTA assets into exciting, dynamic growth for the entire region, and I’m excited that this project will connect 265 new units of housing with all the great service the MTA has to offer.”

    MTA C&D Transit-Oriented Development Senior Vice President Miriam Harris said, “This project will create vital new housing options for the iconic riverside city of Beacon – all while increasing ridership and advancing our regional planning goals. It’s a win for New Yorkers everywhere, and we’re excited to see it move forward.”

    Empire State Development President, CEO and Commissioner Hope Knight said, “Expanding economic opportunity for New Yorkers starts with quality housing—and the Beacon Metro-North Station project shows how Governor Hochul is delivering. Under her leadership, New York is transforming underutilized state-owned sites and leveraging innovative NY-RUSH funding to create much-needed transit-oriented housing that strengthens local economies and fosters sustainable, connected growth in communities like Beacon and across the state.”

    New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “Under Governor Hochul’s leadership, New York is turning bold ideas into real housing solutions. Thanks to the RUSH program, we’re creating 265 new homes right next to transit—a win for affordability, sustainability, and smart land use. This development turns pavement into progress, showing how strategic investment can reshape communities for the better and help more New Yorkers live where they thrive.”

    Beacon Mayor Lee Kyriacou said, “MTA’s proposed Transit-Oriented Development project in the City of Beacon will provide increased and affordable housing opportunities to current and future residents. It will replace ugly impermeable blacktop with environmentally sustainable living — which helps Beacon both to support our Main Street, and also to do our part to help address the housing shortage in our region.  We look forward to working with MTA to ensure that the project fits with the City’s planning priorities and aesthetic character.”

    Jonathan Rose Companies President Jonathan F.P. Rose said, “We are so pleased to have been selected by the MTA to redevelop the Beacon Train Station’s North Lot. This project represents a key goal of the firm- to develop green, transit-oriented mixed-income and mixed-use projects that expand housing options and economic development for their host communities. And what an amazingly vital, creative community Beacon is.”

    Dutchess County Executive Sue Serino said, “This transit-oriented development project will transform a state-owned parking lot into its highest and best use while maintaining parking for commuters with an integrated parking structure and increasing much needed housing supply and affordable options for our residents.”

    Assemblymember Jonathan Jacobson said, “The MTA’s transit-oriented housing plan provides much-needed housing for Beacon. The project will comply with Beacon zoning and provide affordable housing in at least ten percent of the 265 units. The complex will also have its own parking garage for new residents and retail customers, with no reduction of available parking for commuters. I applaud Governor Hochul on following through and bringing her promise of transit-oriented housing to Beacon.”

    The MTA’s Transit-Oriented Development team works closely with the State, municipalities, and the development community to leverage existing assets to generate new housing and increase ridership. This project will create waterfront housing units in a community celebrated for its natural beauty, within walking distance to all the dining, entertainment and amenities that Beacon’s Main Street has to offer.

    Governor Hochul’s Housing Agenda

    Governor Hochul is dedicated to addressing New York’s housing crisis and making the State more affordable and more livable for all New Yorkers. As part of the FY25 Enacted Budget, the Governor secured a landmark agreement to increase New York’s housing supply through new tax incentives and by removing barriers for development, $500 million in capital funding to build up to 15,000 units on state sites, including the City of Beacon project, as well as new protections for renters and homeowners. Building on this commitment, the FY26 Enacted Budget includes more than $1.5 billion in new State funding for housing, a Housing Access Voucher pilot program, and new policies to improve affordability for tenants and homebuyers. These measures complement the Governor’s five-year, $25 billion Housing Plan, included in the FY23 Enacted Budget, to create or preserve 100,000 affordable homes statewide. More than 60,000 homes have been created or preserved to date.

    The FY25 and FY26 Enacted Budgets also strengthened the Governor’s Pro-Housing Community Program — which allows certified localities exclusive access to up to $750 million in discretionary State funding. Currently, more than 300 communities have received Pro-Housing certification, including the City of Beacon. This program also includes a $500 million capital fund to build up to 15,000 new homes on State-owned property, including the Beacon project.

    About Jonathan Rose Companies

    Jonathan Rose Companies is one of the country’s leading owners of green, affordable and mixed-income communities. Founded in 1989 with a mission to create a more environmentally thriving, socially just world through the development, preservation, renovation, and ownership of green, affordable and mixed-income communities, Rose has created projects $4.6 billion of value as of year-end 2024, with a current portfolio of nearly 20,000 apartment homes in 14 states and Washington, D.C. The Firm is a fully integrated investment management, development, and asset management company with construction management, solar energy, mortgage finance, and title company affiliates, and has offices in New York, Ohio, Colorado and California. For more information, please visit www.rosecompanies.com

    MIL OSI USA News

  • MIL-OSI Security: Two teenagers convicted after fatal stabbing of Daejaun Campbell

    Source: United Kingdom London Metropolitan Police

    Two teenagers have been convicted of murder and manslaughter in relation to the death of a 15-year-old boy in Woolwich, in an unprovoked attack – the exact motive for the attack remains unclear. A third teenager was acquitted of murder.

    Two appeared at the Old Bailey today and the jury returned their verdicts after a six week trial.

    Marko Balaz, 19 (20.12.2005) of Sewell Road, SE2, was convicted of manslaughter and a 17-year-old boy was convicted of murder.

    Jacob Losiewicz, 18 (22.07.2006) of Church Manorway, SE2, was acquitted of murder on Tuesday, 30 July.

    The victim, 15-year-old Daejaun Campbell, was fatally stabbed following a disturbance on Eglington Road, SE18.

    Detective Chief Inspector Kate Blackburn said: “Daejaun’s murder shocked the local community and will forever impact his grieving family and those who loved him.

    “I commend the strength of Daejaun’s family, in particular his mother, throughout this awful ordeal. She has demonstrated exceptional courage and composure throughout this trial and has become an advocate to raise awareness of the dangers of young people carrying knives and the devastation that knife violence causes.”

    A murder investigation was launched on Sunday, 22 September 2024 after police were called to reports of the stabbing of a boy on Eglington Road, SE18.

    Witnesses called the police at around 18:30hrs to reports of a boy screaming for help and being chased down the street before being attacked with what looked like a machete. Brave members of the public ran to help Daejaun, who was lying on the floor after sustaining multiple stab wounds.

    London Ambulance Service and HEMS attended the scene but sadly Daejaun died a short time later in the road where he had been stabbed.

    A murder investigation commenced, quickly identifying a car which had been used to bring the defendants to the scene. CCTV footage including doorbell camera footage was identified which showed the teenagers leaving a property to attack Daejaun. The identities of the group were soon established.

    Losiewicz was arrested the following day with the distinctive top he was wearing during the murder being recovered on his bedroom floor, but his tracksuit bottoms and sliders were missing. During his interview, Losiewicz denied being involved in Daejaun’s murder and claimed to be a witness who ran from the scene after being scared. He claimed to have been unable to stop the attack.

    Balaz was arrested at his home address on 25 September where he denied any involvement, claimed to have been at home during the offence and denied any prior knowledge of Daejaun or his murder. Balaz was, however on an electronically monitored tag which demonstrated he was lying and had travelled to Eglinton Road at the time of the murder. Officers were to later find multiple internet searches on Balaz’s phone around relating to Daejaun’s murder.

    The 17-year-old boy was arrested on 27 September. His phone was analysed and messages were found which showed he was worried about spending 20 years in prison after killing someone and joking with friends that his life was “about to take a massive turn”. Losiewicz sliders were found in the 17 year old’s house and Daejaun’s blood was found on them. At trial he admitted to stabbing Daejaun but claimed he did so in self defence, as Daejaun also had a knife.

    All three were charged with murder and remanded into custody.

    DCI Kate Blackburn added: “We have never fully established why Daejaun was murdered in such a brutal way. I believe it is likely because he did not live in the area and had been exploited into dealing drugs there. It is possible that the defendant’s were linked to an opposing drugs line.

    “This group were willing to bring a machete out in broad daylight and use it to kill a 15-year-old boy who, when challenged, threw his knife away and ran in the opposite direction.

    “Today’s convictions conclude a lengthy and emotional investigation, and we can expect the two convicted teenagers to spend a considerable time in prison. However, they will still be able to have lives after their incarceration, Daejaun was not given that opportunity.

    “I hope that the conviction today provides some sense of justice to Deajuan’s family.”

    The pair will be sentenced at the same court on Monday, 6 October.

    MIL Security OSI

  • MIL-OSI: Eos Energy Enterprises Delivers Record Quarterly Revenue Nearly Equivalent to Full Year 2024, Reports Second Quarter 2025 Financial Results and Reaffirms 2025 Revenue Outlook

    Source: GlobeNewswire (MIL-OSI)

    • $15.2 million revenue, highest in Company history and nearly equivalent to full year 2024
    • Z3 customer system performance, averaging nearly 88% RTE across multiple cycles and peaking at 89.5% on its highest individual cycle
    • Closed $336 million in concurrent offerings of common stock and convertible senior notes, strengthening the Company’s balance sheet and creating enhanced financial flexibility
    • Received $22.7 million for its second loan advance from the Department of Energy’s (DOE) Loan Programs Office, totaling $91 million in funding since November 2024 loan closing
    • Extended its 26.5% convertible senior notes maturity to September 30, 2034, and reduced interest rate from 26.5% to 7.0%, beginning on June 30, 2026
    • $18.8 billion commercial pipeline increased $3.2 billion vs. prior quarter led by over 10 GWh submitted to the UK Cap & Floor scheme, 15% sequential growth in 8-hour plus duration projects
    • Continuing capacity expansion: sub-assembly automation ramping in third quarter while second state-of-the-art manufacturing line on order
    • One Big Beautiful Bill Act (OBBBA) preserves manufacturing production tax credits with full stackability and transferability through 2029; Eos domestic content exceeds FEOC requirements for customer ITC
    • Reaffirms 2025 full year revenue guidance range of $150 million – $190 million

    EDISON, N.J., July 30, 2025 (GLOBE NEWSWIRE) — Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos” or the “Company”) is an American energy company and the leading innovator in designing, sourcing, manufacturing, and providing zinc-based battery energy storage systems (BESS) manufactured in the United States, today announced its financial results for the second quarter ended June 30, 2025.

    Second Quarter Highlights

    • Record quarterly revenue of $15.2 million, a 46% increase compared to the prior quarter and up 17x from the same period last year, driven by increased production volumes. Factory shipments increased 122% quarter-over-quarter, with 50% of the production volume delivered for a strategic customer project.   
    • Gross loss of $31.0 million, a 32-point margin improvement from the prior quarter, driven by increased production volumes and operational efficiencies partially offset by one-time lower than average selling prices.
    • Operating expenses totaled $32.9 million, a decrease from prior quarter excluding $5.4 million in one-time non-recurring items.
    • $222.9 million net loss attributable to shareholders driven by $151.8 million non-cash changes in fair value tied to mark-to-market adjustments related to the Company’s increased stock price as of June 30, 2025, loss recorded for the repurchase of the Company’s outstanding 2026 convertible notes, and loss recorded as part of the prepayment under the Delayed Draw Term Loan.
    • Adjusted EBITDA loss of $51.6 million, a 75-point margin improvement from prior quarter, driven by improved gross margins and operational leverage.
    • Total cash of $183.2 million, including restricted cash, as of June 30, 2025.
    • Commercial opportunity pipeline of $18.8 billion, an increase of 21% compared to prior quarter and 37% compared to June 30, 2024, with a $672.5 million orders backlog.

    “The team delivered our strongest operational quarter to date – production scaled rapidly prior to subassembly fully coming online, revenue nearly surpassed all of 2024, and Z3 customer field data has been outperforming its initial product specifications for round trip efficiency,” said Joe Mastrangelo, Eos Chief Executive Officer. “We’ve made significant progress in advancing our commercial pipeline, while improving our operating performance. We are continuing to expand our manufacturing capacity to provide our customers with the confidence in Eos’ ability to deliver large scale projects.”

    2025 Outlook

    • For the full year 2025, Eos continues to expect revenue between $150 million and $190 million. Less than two years ago, the Company initiated its manufacturing expansion plan. Last year, it successfully launched its first state-of-the-art manufacturing line with battery modules being produced every 10 seconds. To further increase capacity and drive cost reductions, Eos is now implementing subassembly automation which should more than double the throughput of the battery module line. Together, these two programs allow the Company to ramp production in the second half of 2025 to an annualized rate of 2 GWh per year.

    Recent Business Highlights

    Commercial Growth
    Macro-level trends are driving a secular shift in power demand, with industries such as artificial intelligence and data centers accelerating the need for resilient, scalable energy infrastructure. Meeting this demand will require a diverse mix of energy solutions, and Eos is well-positioned to be a key contributor to America’s energy independence. In the second quarter, the Company added $3.2 billion to its commercial pipeline, bringing the total to $18.8 billion, representing 77 GWh of energy storage capacity with approximately 20% of it being connected to the build out of data centers.

    Eos continues to advance three large Memorandum of Understanding (MOUs) totaling 6.2 GWh along with several emerging large-scale opportunities. Early in the quarter, Eos signed a 5 GWh MOU with Frontier Power, a leading UK developer of energy infrastructure. Since then, Frontier has submitted over 10 GWh of projects using Eos technology to the UK’s Cap and Floor scheme — more than double the original commitment — highlighting strong UK demand for 8-hour plus storage.

    More than half of Eos’ pipeline is now stand-alone energy storage projects as system operators increasingly look for solutions that manage grid volatility, ease congestion, and minimize curtailment across all types of power generating assets. Crucially, stand-alone storage remains fully eligible under Section 48E of the Investment Tax Credit (ITC) under the OBBBA. With over 90% domestic content, Eos is strongly positioned to meet evolving Foreign Entity of Concern (FEOC) requirements offering customers both energy security and the ability to maximize domestic energy incentives.

    Enhanced Liquidity to Accelerate Growth
    During the quarter, Eos executed and closed $336 million in concurrent offerings of common stock and convertible senior notes. The offerings were significantly oversubscribed, demonstrating strong investor confidence in Eos’ growth potential and progress against its strategic plan. These transformative transactions mark a critical inflection point that unlock the financial flexibility required to scale operations and meet long duration energy storage demand.

    The offerings also allowed the Company to restructure key portions of its debt, materially lowering its cost of capital while strengthening its balance sheet, with the overall transaction resulting in approximately $400 million in savings over the prior terms of the Company’s debt.

    Post quarter end, the Company also extended the maturity of its 26.5% convertible senior notes to September 30, 2034, and reduced the interest rate from 26.5% to 7.0% beginning on June 30, 2026. At the same time, an affiliate of Cerberus Capital Management, L.P. (“Cerberus”) granted a no-penalty extension until and through October 31, 2025, for the Company to achieve the last cash receipt milestone under its Delayed Draw Term Loan. This is the last outstanding performance milestone under the Delayed Draw Term Loan facility.

    Earnings Conference Call and Webcast
    Eos will host a conference call to discuss its second quarter 2025 results on July 31, 2025, at 8:30 a.m. ET. The live webcast of the earnings call will be available on the “Investor Relations” page of the Company’s website at Eos Investors or may be accessed using this link (registration link). To avoid delays, we encourage participants to join the conference call fifteen minutes ahead of the scheduled start time.

    The conference call will be available via webcast through Eos’ investor relations website for twelve months following the live presentation. The webcast replay will be available from approximately 11:30 a.m. ET on July 31, 2025, and can be accessed by visiting Eos Investors.

    About Eos Energy Enterprises

    Eos is accelerating the shift to American energy independence with positively ingenious solutions that transform how the world stores power. The Company’s BESS features the innovative Znyth™ technology, a proven chemistry with readily available non-precious earth components, that is the pre-eminent safe, non-flammable, secure, stable, and scalable alternative to conventional lithium-ion technology. The Company’s BESS is ideal for utility-scale, microgrid, commercial, and industrial long-duration energy storage applications (i.e., 4 to 16+ hours), and provides customers with significant operational flexibility to effectively address current and future increased grid demand and complexity. For more information about Eos (NASDAQ: EOSE), visit eose.com.

    Forward Looking Statements

    Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding our expected revenue, for the fiscal years December 31, 2025, our path to profitability and strategic outlook, statements regarding orders backlog and opportunity pipeline, statements regarding our expectation that we can continue to increase product volume on our state-of-the-art manufacturing line, statements regarding our future expansion and its impact on our ability to scale up operations, statements regarding our expectation that we can continue to strengthen our overall supply chain, statements regarding our expectation that our new comprehensive insurance program will provide increased operational and economic certainty, statements that refer to the delayed draw term loan with Cerberus, milestones thereunder and the anticipated use of proceeds, statements that refer to outlook, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and the information currently available to, them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected.

    Factors which may cause actual results to differ materially from current expectations include, but are not limited to: changes adversely affecting the business in which we are engaged; our ability to forecast trends accurately; our ability to generate cash, service indebtedness and incur additional indebtedness; our ability to achieve the operational milestones on the delayed draw term loan; our ability to raise financing in the future; risks associated with the credit agreement with Cerberus, including risks of default, dilution of outstanding Common Stock, consequences for failure to meet milestones and contractual lockup of shares; our customers’ ability to secure project financing; the amount of final tax credits available to our customers or to Eos pursuant to the Inflation Reduction Act; the timing and availability of future funding under the Department of Energy Loan Facility; our ability to continue to develop efficient manufacturing processes to scale and to forecast related costs and efficiencies accurately; fluctuations in our revenue and operating results; competition from existing or new competitors; our ability to convert firm order backlog and pipeline to revenue; risks associated with security breaches in our information technology systems; risks related to legal proceedings or claims; risks associated with evolving energy policies in the United States and other countries and the potential costs of regulatory compliance; risks associated with changes to the U.S. trade environment; our ability to maintain the listing of our shares of common stock on NASDAQ; our ability to grow our business and manage growth profitably, maintain relationships with customers and suppliers and retain our management and key employees; risks related to the adverse changes in general economic conditions, including inflationary pressures and increased interest rates; risk from supply chain disruptions and other impacts of geopolitical conflict; changes in applicable laws or regulations; the possibility that Eos may be adversely affected by other economic, business, and/or competitive factors; other factors beyond our control; risks related to adverse changes in general economic conditions; and other risks and uncertainties.

    The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in the Company’s most recent filings with the Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that the Company makes with the Securities and Exchange Commission from time to time. Moreover, the Company operates in a very competitive and rapidly changing environment, and new risks and uncertainties may emerge that could have an impact on the forward-looking statements contained in this press release.

    Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise

    Key Metrics

    Backlog. Our backlog represents the amount of revenue that we expect to realize from existing agreements with our customers for the sale of our battery energy storage systems and performance of services. The backlog is calculated by adding new orders in the current fiscal period to the backlog as of the end of the prior fiscal period and then subtracting the shipments in the current fiscal period. If the amount of an order is modified or cancelled, we adjust orders in the current period and our backlog accordingly, but do not retroactively adjust previously published backlogs. There is no comparable US-GAAP financial measure for backlog. We believe that the backlog is a useful indicator regarding the future revenue of our Company.

    Pipeline. Our pipeline represents projects for which we have submitted technical proposals or non-binding quotes plus letters of intent (“LOI”) or firm commitments from customers. Pipeline does not include lead generation projects.

    Booked Orders. Booked orders are orders where we have legally binding agreements with a Purchase Order (“PO”), or Master Supply Agreement (“MSA”) executed by both parties.

    Non-GAAP Financial Measures

    To provide investors with additional information regarding our financial results, we have disclosed in this earnings release non-GAAP financial measures, including adjusted EBITDA and adjusted EPS, which are non-GAAP financial measures as defined under the rules of the SEC. These non-GAAP financial measures should be considered supplemental to, not a substitute for, or superior to, the financial measures of the Company’s calculated in accordance with U.S. generally accepted accounting principles (“GAAP”). The Company believes adjusted EBITDA, and adjusted EPS are useful measures in evaluating its financial and operational performance distinct and apart from financing costs, certain non-cash expenses and non-operational expenses.

    We believe that non-GAAP financial information, when taken collectively may be helpful to our investors in assessing its operating performance. There are a number of limitations related to the use of these non-GAAP financial measures and their nearest GAAP equivalents. For example, the Company’s definitions of non-GAAP financial measures may differ from non-GAAP financial measures used by other companies. Below is a description of the non-GAAP financial information included herein as well as reconciliations to the most directly comparable GAAP measure. You should review the reconciliations below but not rely on any single financial measure to evaluate our business.

    Adjusted EBITDA is defined as earnings (net loss) attributable to Eos adjusted for interest expense, income tax, depreciation and amortization, non-cash stock-based compensation expense, change in fair value of debt and derivatives, debt extinguishment, and other non-cash or non-recurring items as determined by management which it does not believe to be indicative of its underlying business trends. Adjusted EPS is defined as GAAP net loss per common share as adjusted for non-cash stock-based compensation expense change in fair value of debt and derivatives and debt extinguishment per common share.

    EOS ENERGY ENTERPRISES, INC.
    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
    (In thousands, except share and per share amounts)
        Three Months Ended June 30,   Six Months Ended June 30,
          2025       2024       2025       2024  
    Revenue   $ 15,236     $ 898     $ 25,693     $ 7,499  
    Cost of goods sold     46,189       14,121       81,185       42,350  
    Gross profit (loss)     (30,953 )     (13,223 )     (55,492 )     (34,851 )
    Operating expenses                
    Research and development expenses     7,201       4,250       14,038       9,450  
    Selling, general and administrative expenses     25,488       11,293       46,483       25,535  
    Loss from write-down of property, plant and equipment     205       271       766       336  
    Total operating expenses     32,894       15,814       61,287       35,321  
    Operating Loss     (63,847 )     (29,037 )     (116,779 )     (70,172 )
    Other (expense) income                
    Interest expense, net     (2,129 )     (3,515 )     (2,293 )     (7,782 )
    Interest expense – related party     (4,510 )     (4,912 )     (10,291 )     (9,763 )
    Change in fair value of debt – related party     31,615       (240 )     25,682       (240 )
    Change in fair value of warrants     (57,936 )     (7,941 )     (12,011 )     (5,041 )
    Change in fair value of derivatives – related parties     (76,455 )     (47,727 )     (41,869 )     (47,193 )
    (Loss) gain on debt extinguishment     (49,063 )     68,478       (49,063 )     68,478  
    Other expense     (606 )     (3,270 )     (1,166 )     (3,134 )
    Loss before income taxes   $ (222,931 )   $ (28,164 )   $ (207,790 )   $ (74,847 )
    Income tax expense     6       8       11       33  
    Net Loss attributable to shareholders   $ (222,937 )   $ (28,172 )   $ (207,801 )   $ (74,880 )
    Remeasurement of Preferred Stock – related party     (21,385 )     (23,671 )     58,612       (23,671 )
    Down round deemed dividend     (4,456 )           (4,456 )      
    Net Loss attributable to common shareholders   $ (248,778 )   $ (51,843 )   $ (153,645 )   $ (98,551 )
    Other Comprehensive Loss                
    Change in fair value of debt – credit risk – related party   $ (6,224 )   $     $ (6,224 )   $  
    Foreign currency translation adjustment     14       1       21       (4 )
    Comprehensive Loss attributable to common shareholders   $ (254,988 )   $ (51,842 )   $ (159,848 )   $ (98,555 )
                     
    Basic and diluted Loss per share attributable to common shareholders
    Basic   $ (1.05 )   $ (0.25 )   $ (0.66 )   $ (0.48 )
    Diluted   $ (1.05 )   $ (0.25 )   $ (0.66 )   $ (0.48 )
                     
    Weighted average shares of common stock                
    Basic     237,741,328       211,137,189       231,616,540       206,225,126  
    Diluted     237,741,328       211,137,189       231,616,540       206,225,126  
                                     
    EOS ENERGY ENTERPRISES, INC.
    UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
    (In thousands, except share and per share amounts)
      June 30,
    2025
      December 31,
    2024
    Balance sheet data      
    Cash and cash equivalents $ 120,225     $ 74,292  
    Other current assets $ 112,052     $ 105,620  
    Property, plant and equipment, net $ 75,533     $ 45,660  
    Other assets $ 53,185     $ 34,746  
    Total assets $ 360,995     $ 260,318  
    Total liabilities $ 931,693     $ 842,085  
    Mezzanine equity – preferred stock $ 532,269     $ 488,696  
    Total deficit $ (1,102,967 )   $ (1,070,463 )
                   
    EOS ENERGY ENTERPRISES, INC.
    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (In thousands, except share and per share amounts)
      Six Months Ended
    June 30,
        2025       2024  
    Net cash used in operating activities $ (95,046 )   $ (66,807 )
    Net cash used in investing activities   (11,959 )     (10,299 )
    Net cash provided by financing activities   186,820       50,024  
    Effect of exchange rate changes on cash, cash equivalents and restricted cash   (2 )     (6 )
    Net increase (decrease) in cash, cash equivalents and restricted cash   79,813       (27,088 )
    Cash, cash equivalents and restricted cash, beginning of the period   103,362       84,667  
    Cash, cash equivalents and restricted cash, end of the period $ 183,175     $ 57,579  
                   
    EOS ENERGY ENTERPRISES, INC.
    UNAUDITED RECONCILIATION OF NET LOSS TO EBITDA LOSS AND ADJUSTED EBITDA LOSS
    (In thousands)
      Three Months Ended
    June 30,
      Six Months Ended
    June 30,
        2025       2024       2025       2024  
    Net loss $ (222,937 )   $ (28,172 )   $ (207,801 )   $ (74,880 )
    add: Interest expense   6,639       8,427       12,584       17,545  
    add: Income tax expense   6       8       11       33  
    add: Depreciation and amortization   2,935       1,371       5,615       2,568  
    EBITDA loss   (213,357 )     (18,366 )     (189,591 )     (54,734 )
    add: Stock based compensation   7,127       1,857       14,701       4,798  
    add: Change in fair value of derivatives   134,390       55,668       53,880       52,234  
    (deduct) add: Change in fair value of debt   (31,615 )     240       (25,682 )     240  
    add (deduct): (Gain) loss on debt extinguishment   49,063       (68,478 )     49,063       (68,478 )
    add: Other non-cash or non-recurring   2,766             2,766        
    Adjusted EBITDA loss $ (51,626 )   $ (29,079 )   $ (94,863 )   $ (65,940 )
                                   
    EOS ENERGY ENTERPRISES, INC.
    UNAUDITED RECONCILIATION OF NET LOSS TO ADJUSTED NET LOSS PER SHARE
    (In thousands)
      Three Months Ended
    June 30,
      Six Months Ended
    June 30,
        2025       2024       2025       2024  
    Net loss attributable to common shareholders $ (248,778 )   $ (51,843 )   $ (153,645 )   $ (98,551 )
    add: Stock based compensation   7,127       1,857       14,701       4,798  
    add: Change in fair value of derivatives   134,390       55,668       53,880       52,234  
    (deduct) add: Change in fair value of debt   (31,615 )     240       (25,682 )     240  
    add (deduct): (Gain) loss on debt extinguishment   49,063       (68,478 )     49,063       (68,478 )
    add: Other non-cash or non-recurring   2,766             2,766        
    Adjusted net loss attributable to common shareholders $ (87,047 )   $ (62,556 )   $ (58,917 )   $ (109,757 )
                   
    Basic and diluted loss per share attributable to common shareholders        
    Basic $ (1.05 )   $ (0.25 )   $ (0.66 )   $ (0.48 )
    Diluted $ (1.05 )   $ (0.25 )   $ (0.66 )   $ (0.48 )
                   
    Basic and diluted adjusted loss per share attributable to common shareholders    
    Basic $ (0.37 )   $ (0.30 )   $ (0.25 )   $ (0.53 )
    Diluted $ (0.37 )   $ (0.30 )   $ (0.25 )   $ (0.53 )
                   
    Weighted average shares of common stock              
    Basic   237,741,328       211,137,189       231,616,540       206,225,126  
    Diluted   237,741,328       211,137,189       231,616,540       206,225,126  

    The MIL Network

  • MIL-OSI: Reliance Global Group Reports Second Quarter 2025 Financial Results and Provides Business Update

    Source: GlobeNewswire (MIL-OSI)

    Reduces Debt by 50%, Strengthens Balance Sheet, and Refocuses Strategic Priorities

    Company to Host Conference Call Today at 4:30 PM Eastern Time

    LAKEWOOD, N.J., July 30, 2025 (GLOBE NEWSWIRE) — Reliance Global Group, Inc. (Nasdaq: RELI) (“Reliance”, “we” or the “Company”) today provided a business update and reported financial results for the quarter ended June 30, 2025.

    “During the second quarter, we made meaningful progress toward our long-term strategic objectives, continuing to execute with discipline across both operational and financial fronts,” said Ezra Beyman, Chairman and CEO of Reliance Global Group. “While revenue was modestly lower compared to the prior year period, this was primarily due to a shift in our medical/health client base but offset by an 8% increase in our property and casualty (P&C) revenue stream. Importantly, our core business remained stable, and we continued to drive improvements across the organization. A key pillar of our transformation remains our OneFirm strategy, which unifies our agency operations under a cohesive, integrated model. We believe this approach is driving greater internal efficiency, enhancing collaboration across our teams, and delivering improved service experiences for clients and agents alike. It also positions us to scale more effectively and expand margins as we grow.”

    “As part of this strategy, the recent sale of Fortman Insurance Services marked a key step in streamlining our portfolio. By monetizing this asset, we’ve not only strengthened our balance sheet but also reinforced our focus on tech-enabled, high-growth areas that align with our long-term vision for sustainable, innovation-driven growth.”

    “From the sale proceeds, we took a major step to strengthen our financial position by repaying approximately $5.6 million—about half of our long-term debt, which reduced our annual debt service by over $1.8 million and meaningfully improved our cash flow and financial flexibility.”

    “Another exciting development this quarter was the launch of RELI Auto Leasing, which empowers our RELI Exchange Agency Partners to connect their clients with great auto leasing options. This unique platform not only creates a new revenue stream for our agents—who earn commissions on both the leasing referral and the accompanying insurance—but also delivers a high-convenience experience for consumers, with nationwide delivery available. By integrating leasing solutions into the RELI Exchange platform, we are continuing to strengthen our value proposition and expand the tools our agents can use to grow their businesses,” concluded Mr. Beyman.

    2025 Second Quarter Financial Highlights

    (approximate figures)

    • Commission income was $3.1 million in Q2 2025, compared to $3.2 million in Q2 2024. The swing was primarily due to a shift in our medical/health client base but offset by an 8% increase in our property and casualty (P&C) revenue stream.
    • Commission expense was $989,000 in Q2 2025, compared to $886,000 in Q2 2024 with the swing primarily attributed to the 8% growth in P&C revenues.
    • Salaries and wages were $2.6 million in Q2 2025, compared to $2.0 million in Q2 2024, with the increase due to non-cash share-based compensation, offset by OneFirm efficiencies and overall leaner operations.
    • General and administrative expenses were $1.5 million in Q2 2025, compared to $1.0 million in Q2 2024, with the flux being driven by acquisition related cash and non-cash costs offset by OneFirm efficiencies and overall leaner operations.
    • Net loss for the quarter was $2.7 million, compared to $1.5 million in Q2 2024, reflecting the impacts of non-cash equity compensation and acquisition cash and non-cash related costs.
    • Adjusted EBITDA (“AEBITDA”) (Non-GAAP measure) loss for the quarter was $382,000 compared to $178,000 in Q2 2024. The increase was driven primarily by the fluctuations affecting the commission income and commission expense accounts offset by improvements in the general expense accounts pursuant to OneFirm efficiencies and overall leaner operations.

    “Following the sale of Fortman Insurance Services, we expect to recognize a gain on sale of approximately $3.0 million in the third quarter,” said Joel Markovits, Chief Financial Officer of Reliance Global Group. “Combined with our debt reduction efforts, we’ve significantly deleveraged our balance sheet and lowered our annual debt service obligations by approximately 61%. Our outlook remains strong as we continue to move forward with a focus on disciplined financial management, whilst making strides forward in our pursuit of innovation and expansion of our market footprint.”

    Conference Call

    Reliance Global Group will host a conference call today at 4:30 PM Eastern Time to discuss the Company’s financial results for the quarter ended June 30, 2025, as well as the Company’s corporate progress and other developments.

    The conference call will be available via telephone by dialing toll-free +1 888-506-0062 for U.S. callers or +1 973-528-0011 for international callers and entering access code 627850. A webcast of the call may be accessed at https://www.webcaster4.com/Webcast/Page/2381/52790 or on the investor relations section of the Company’s website, https://relianceglobalgroup.com/events-and-presentations/.

    A webcast replay will be available on the investor relations section of the Company’s website at https://relianceglobalgroup.com/events-and-presentations/ through May 13, 2026. A telephone replay of the call will be available approximately one hour following the call, through May 27, 2025, and can be accessed by dialing +1 877-481-4010 for U.S. callers or +1 919-882-2331 for international callers and entering access code 52473.

    About Reliance Global Group, Inc.

    Reliance Global Group, Inc. (NASDAQ: RELI) is an InsurTech pioneer, leveraging artificial intelligence (AI), and cloud-based technologies, to transform and improve efficiencies in the insurance agency/brokerage industry. The Company’s business-to-business InsurTech platform, RELI Exchange, provides independent insurance agencies an entire suite of business development tools, enabling them to effectively compete with large-scale national insurance agencies, whilst reducing back-office cost and burden. The Company’s business-to-consumer platform, 5minuteinsure.com, utilizes AI and data mining, to provide competitive online insurance quotes within minutes to everyday consumers seeking to purchase auto, home, and life insurance. In addition, the Company operates its own portfolio of select retail “brick and mortar” insurance agencies which are leaders and pioneers in their respective regions throughout the United States, offering a wide variety of insurance products. Further information about the Company can be found at https://www.relianceglobalgroup.com.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by terminology such as “may,” “should,” “could,” “would,” “will,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “continue,” “potential,” and similar expressions. Forward-looking statements in this press release include, without limitation, statements regarding:

    • Our expectations regarding the financial and operational benefits of our recent debt reduction, including reduced annual debt service obligations, improved cash flow, and enhanced financial flexibility;
    • Our belief that the OneFirm strategy is enhancing internal efficiency, enabling scalability, and positioning us for sustainable margin expansion;
    • Our intention to continue realigning our portfolio and operations around high-growth, tech-enabled assets, including through the sale of Fortman Insurance Services and the expansion of the RELI Exchange platform;
    • Our expectation that RELI Auto Leasing will generate new revenue opportunities for our agency partners and increase customer convenience and engagement;
    • Our outlook regarding the anticipated gain on the Fortman sale and our ability to continue deleveraging and improving our financial condition; and
    • Other statements relating to our future growth, financial performance, business strategy, and operational execution.

    These forward-looking statements are based on a number of assumptions, including that our OneFirm strategy will continue to drive efficiencies, the RELI Exchange and RELI Auto Leasing platforms will gain market traction as expected, the anticipated gain on the Fortman sale will be recognized, and market, economic, and regulatory conditions will remain favorable. There can be no assurance that these assumptions will prove accurate.

    Actual results could differ materially from those anticipated due to a variety of risks and uncertainties, including: our ability to successfully integrate new business initiatives such as RELI Auto Leasing; challenges in realizing anticipated cost savings, cash flow improvements, or strategic benefits from our restructuring efforts; competitive pressures in the InsurTech and insurance agency markets; adverse economic or regulatory developments; and other factors described under “Risk Factors” in our Annual Report on Form 10-K and other filings made with the Securities and Exchange Commission.

    You are encouraged to carefully review our Annual Report on Form 10-K for the year ended December 31, 2024, as amended, as well as other SEC filings, for a more complete discussion of these and other risks and uncertainties. Except as required by law, Reliance Global Group, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

    Contact:

    Crescendo Communications, LLC
    Tel: +1 (212) 671-1020
    Email: RELI@crescendo-ir.com

    INFORMATION REGARDING A NON-GAAP FINANCIAL MEASURE

    The Company believes certain financial measures which meet the definition of non-GAAP financial measures, as defined in Regulation G of the SEC rules, provide important supplemental information. Namely our key financial performance metric Adjusted EBITDA (“AEBITDA”) is a non-GAAP financial measure that is not in accordance with, or an alternative to, measures prepared in accordance with GAAP. “AEBITDA” is defined as earnings before interest, taxes, depreciation, and amortization (EBITDA) with additional adjustments as further outlined below, to result in Adjusted EBITDA (“AEBITDA”). The Company considers AEBITDA an important financial metric because it provides a meaningful financial measure of the quality of the Company’s operational, cash impacted and recurring earnings and operating performance across reporting periods. Other companies may calculate Adjusted EBITDA differently than we do, which might limit its usefulness as a comparative measure to other companies in the industry. AEBITDA is used by management in addition to and in conjunction (and not as a substitute) with the results presented in accordance with GAAP. Management uses AEBITDA to evaluate the Company’s operational performance, including earnings across reporting periods and the merits for implementing cost-cutting measures. We have presented AEBITDA solely as supplemental disclosure because we believe it allows for a more complete analysis of results of operations and assists investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. Consistent with Regulation G, a description of such information is provided below herein and tabular reconciliations of this supplemental non-GAAP financial information to our most comparable GAAP information are contained below.

    We exclude the following items when calculating Adjusted EBITDA, and the following items define our non-GAAP financial measure “AEBITDA”:

    • Interest and related party interest expense: Unrelated to core Company operations and excluded to provide more meaningful supplemental information regarding the Company’s core operational performance.
    • Depreciation and amortization: Non-cash charge, excluded to provide more meaningful supplemental information regarding the Company’s core operational performance.
    • Goodwill and/or asset impairments: Non-cash charge, excluded to provide more meaningful supplemental information regarding the Company’s core operational performance.
    • Equity-based compensation: Non-cash compensation provided to employees and service providers, excluded to provide more meaningful supplemental information regarding the Company’s core cash impacted operational performance.
    • Change in estimated acquisition earn-out payables: An earn-out liability is a liability to the seller upon an acquisition which is contingent on future earnings. These liabilities are valued at each reporting period and the changes are reported as either a gain or loss in the change in estimated acquisition earn-out payables account in the consolidated statements of operations. The gain or loss is non-cash, can be highly volatile and overall is not deemed relevant to ongoing operations, thus, it is excluded to provide more meaningful supplemental information regarding the Company’s core operational performance.
    • Recognition and change in fair value of warrant liabilities: This account includes changes to derivative warrant liabilities which are valued at each reporting period and could result in either a gain or loss. The period changes do not impact cash, can be highly volatile, and are unrelated to ongoing operations, and thus are excluded to provide more meaningful supplemental information regarding the Company’s core operational performance.
    • Other income (expense), net: Includes certain non-routine income or expenses and other individually de minimis items and is thus excluded as unrelated to core operations of the company.
    • Transactional costs: This includes expenses related to mergers, acquisitions, financings and refinancings, and amendments or modification to indebtedness. These costs are unrelated to primary Company operations and are excluded to provide more meaningful supplemental information regarding the Company’s core operational performance.
    • Non-standard costs: This account includes non-standard non-operational items, related to costs incurred for a legal suit the Company has filed against one of the third parties involved in the discontinued operations and was excluded to provide more meaningful supplemental information regarding the Company’s core operational performance.
    • Loss from discontinued operations before tax: This account includes the net results from discontinued operations, and since discontinued, are unrelated to the Company’s ongoing operations and thus excluded to provide more meaningful supplemental information regarding the Company’s core operational performance.

    The following table provides a reconciliation from net loss to AEBITDA for the 3 month and 6 month periods ended June 30, 2025 and 2024, respectively:

                             
      The Period Ended June 30,
      Six Months Ended June 30,
     
      2025   2024   2025   2024  
            As reported on10-Q2’24           As reported on10-Q2’24    
    Net income (loss) (2,710,901 )   (1,489,395 )   (4,447,786 )   (6,836,057 )  
    Adjustments:                        
    Interest and related party interest expense 318,988     403,495     644,230     813,780    
    Depreciation and amortization 346,151     469,788     706,746     1,003,941    
    Asset impairment             3,922,110    
    –                     
    Share based compensation employees directors and third parties 1,479,557     333,897     2,504,542     488,808    
    Change in estimated acquisition earn-out payables             47,761    
    Other (income) expense, net     (11 )   24,598     (22 )  
    Transactional costs 248,049     119,203     391,236     373,096    
    Non-standard costs (63,534 )   45,724     (35,254 )   90,963    
    Recognition and change in fair value of warrant liabilities     (60,667 )       (156,000 )  
    Total adjustments 2,329,211     1,311,429     4,236,098     6,584,437    
                             
    AEBITDA  (381,690 )   (177,966 )   (211,688 )   (251,620 )  
                             
                             

    The MIL Network

  • MIL-OSI: Medallion Financial Corp. Reports 2025 Second Quarter Results

    Source: GlobeNewswire (MIL-OSI)

    Reports 56% Increase in Net Income as Compared to the Prior Year Quarter
    Announces Third Quarter 2025 Dividend of $0.12 Per Share

    NEW YORK, July 30, 2025 (GLOBE NEWSWIRE) — Medallion Financial Corp. (NASDAQ: MFIN, “Medallion” or the “Company”), a specialty finance company that originates and services loans in various consumer and commercial industries, along with offering loan origination services to fintech strategic partners, announced today its financial results for the second quarter ended June 30, 2025.

    2025 Second Quarter Highlights

    • Net income grew 56% to $11.1 million, or $0.46 per share, compared to $7.1 million, or $0.30 per share, in the prior year quarter.
    • Net interest income grew 7% to $53.4 million from $49.9 million in the prior year quarter.
    • Net interest margin (“NIM”) on net loans was 8.42%, consistent with 8.42% in the prior year quarter, and NIM on gross loans was 8.09%, compared to 8.12% in the prior year quarter.
    • Loan originations grew to $375.0 million, compared to $309.1 million in the prior year quarter, and included $168.6 million of strategic partnership loan originations in the current quarter compared to $24.3 million in the prior year quarter.
    • The loan portfolio as of June 30, 2025 was $2.485 billion, up 4% compared to $2.386 billion a year ago.
    • Credit loss provision increased to $21.6 million from $18.6 million in the prior year quarter.
    • Net book value per share as of June 30, 2025 was $16.77 per share, up 10% from $15.25 a year ago.
    • The Company declared and paid a quarterly cash dividend of $0.12 per share.
    • The Company repurchased 48,166 shares of its common stock at an average cost of $9.44 per share for $0.5 million.

    Executive Commentary

    Andrew Murstein, President and Chief Operating Officer of Medallion Financial, commented, “We are pleased with the strong results we delivered in the second quarter of 2025, with a 56% increase in net income year-over-year. This performance reflects the strength of our core lending businesses and disciplined execution across our business lines.

    During the quarter, we saw meaningful contributions from our recreation, home improvement and commercial lending segments, supported by solid portfolio originations and higher interest income. Over the past eight quarters, our commercial division has consistently generated net gains from equity investments, totaling $27.6 million for the two-year period, with six of the past eight quarters having significant gains. These equity gains are a result of years of strategic investment and highlight the long-term value embedded in our commercial portfolio. Although we cannot predict when and if these gains will occur, with a portfolio of more than 30 equity investments, represented by $8.1 million on our balance sheet, we believe we will experience additional gains in the future. In addition, we are pleased that our strategic partners loan program in Medallion Bank continues to grow with $169 million in loan originations in the quarter compared to $24 million a year ago.

    Overall, we are encouraged by the momentum in our business. With the recent preferred offering at Medallion Bank, we believe we are well-positioned for growth and to continue generating strong returns for our shareholders.”

    Business Segment Highlights

    Recreation Lending Segment

    • Originations were $142.8 million during the quarter, compared to $209.6 million a year ago.
    • Recreation loans, including loans held for investment and loans held for sale, grew 3% to $1.546 billion, or 62% of total loans, as of June 30, 2025, compared to $1.497 billion a year ago.
    • Average loan size was $21,000 with a weighted average FICO score, measured at the time of loan origination, of 684.
    • Interest income grew 8% to $51.1 million for the quarter, from $47.5 million in the prior year quarter.
    • The average interest rate was 15.12% at quarter-end, 15.10% excluding loans held for sale, compared to 14.80% a year ago.
    • Recreation loans 90 days or more past due were $7.3 million, or 0.49% of gross recreation loans, as of June 30, 2025, compared to $5.9 million, or 0.41%, a year ago.
    • Allowance for credit loss was 5.05% at quarter-end for loans held for investment, compared to 4.35% a year ago.

    Home Improvement Lending Segment

    • Originations were $54.3 million during the quarter, compared to $68.0 million a year ago.
    • Home improvement loans grew 4% to $803.5 million, or 32% of total loans, as of June 30, 2025, compared to $773.2 million a year ago.
    • Average loan size was $22,000 with a weighted average FICO score, measured at the time of loan origination, of 769.
    • Interest income grew 14% to $20.1 million for the quarter, from $17.7 million in the prior year quarter.
    • The average interest rate was 9.87% at quarter-end, compared to 9.71% a year ago.
    • Home improvement loans 90 days or more past due were $1.3 million, or 0.16% of gross home improvement loans, as of June 30, 2025, compared to $1.3 million, or 0.17%, a year ago.
    • Allowance for credit loss was 2.54% at quarter-end, compared to 2.38% a year ago.

    Commercial Lending Segment

    • Originations were $9.4 million during the quarter.
    • Commercial loans grew to $121.4 million at June 30, 2025, compared to $110.2 million a year ago.
    • Average loan size was $3.6 million, invested in 34 portfolio companies.
    • For the quarter ended June 30, 2025, net gains recognized with respect to equity investments were $6.1 million.
    • The average interest rate on the portfolio was 13.43%, compared to 13.05% a year ago.

    Strategic Partnerships

    • Originations were $168.6 million during the quarter, compared to $24.3 million a year ago.
    • Total strategic partnership loans held as of quarter end were $12.3 million.
    • Fees generated from strategic partnerships totaled $0.8 million for the quarter, as compared to $0.5 million for the quarter ended June 30, 2024.
    • Average loan holding period of strategic partnership loans was 5 days.

    Taxi Medallion Lending Segment

    • The Company collected $2.3 million of cash on taxi medallion-related assets during the quarter, which resulted in net recoveries and gains of $1.4 million.
    • Total net taxi medallion assets declined to $5.9 million, a 41% reduction from a year ago, and represented less than 0.3% of the Company’s total assets, as of June 30, 2025.

    Loan Portfolio

    The following table provides information regarding the composition of our loan portfolio for the periods presented:

        June 30, 2025     December 31, 2024  
    (Dollars in thousands)   Amount   As a
    Percent of
    Total Loans
        Amount   As a
    Percent of
    Total Loans
     
    Loans held for investment:                    
    Recreation   $ 1,486,047   60 %   $ 1,422,403   57 %
    Home improvement     803,535   32       827,211   33  
    Commercial     121,415   5       111,273   4  
    Taxi medallion     1,564   *       1,909   *  
    Total loans     2,412,561   97       2,362,796   95  
    Loans held for sale, at lower of amortized cost or fair value:                    
    Recreation     60,205   2       120,840   5  
    Strategic partnership     12,285   *       7,386   *  
    Total loans held for sale, at lower of amortized cost or fair value     72,490   3       128,226   5  
    Total loans and loans held for sale   $ 2,485,051   100 %   $ 2,491,022   100 %

    (*) Less than 1%.

    Balance Sheet

    • Cash and cash equivalents, including investment securities, at June 30, 2025 were $213.5 million, compared to $213.8 million at June 30, 2024.
    • As of June 30, 2025, total assets amounted to $2.880 billion, up from $2.761 billion at June 30, 2024. The increase is largely due to an increase in prepaid expense which is a result of the redemption of Medallion Bank’s Series F preferred stock on July 1, 2025.
    • As of June 30, 2025, total liabilities amounted to $2.347 billion, up slightly from $2.338 billion a year ago.

    Capital Allocation

    Quarterly Dividend

    • The Board of Directors declared a quarterly dividend of $0.12 per share, payable on August 29, 2025, to shareholders of record at the close of business on August 15, 2025. This dividend amount remains unchanged from the $0.12 per share paid in the second quarter of 2025, and 20% higher than the same quarter last year.
    Dividends Announced   Amount
    Per Share
      Record
    Date
      Payment
    Date
    Q3 2025   $ 0.12   8/15/2025   8/29/2025
    Q2 2025     0.12   5/15/2025   5/30/2025
    Q1 2025     0.11   3/17/2025   3/31/2025
    Total: Year 2025 (Year to Date)     0.35        
    Total: Year 2024     0.41        
    Total: Year 2023     0.34        
    Total: Year 2022 *     0.32        

    (*) Dividend reinstated in Q1 2022.

    Stock Repurchase Plan

    • During the three months ended June 30, 2025, the Company repurchased 48,166 shares of its common stock at an average cost of $9.44 per share for $0.5 million.
    • As of June 30, 2025, the Company had $14.4 million remaining under its $40 million stock repurchase program.

    Conference Call Information

    The Company will host a conference call to discuss its second quarter financial results tomorrow, Thursday, July 31, 2025, at 9:00 a.m. Eastern time.

    In connection with its earnings release, the Company has updated its quarterly supplement presentation, which is now available at www.medallion.com.

    How to Participate

    A link to the live audio webcast of the conference call will also be available at the Company’s IR website.

    Replay Information

    The conference call replay will be available following the end of the call through Thursday, August 7, 2025

    • Dial-in: (412) 317-6671
    • Passcode: 1020 1134

    Additionally, the webcast replay will be available at the Company’s IR website.

    About Medallion Financial Corp.

    Medallion Financial Corp. (NASDAQ: MFIN) and its subsidiaries originate and service a growing portfolio of consumer loans and mezzanine loans in various industries. Key industries served include recreation (towable RVs and marine) and home improvement (replacement roofs, swimming pools, and windows). Medallion Financial Corp. is headquartered in New York City, NY, and its largest subsidiary, Medallion Bank, is headquartered in Salt Lake City, Utah. For more information, please visit www.medallion.com.

    Forward-Looking Statements
    Please note that this press release contains forward-looking statements that involve risks and uncertainties relating to business performance, cash flow, net interest income and expenses, other expenses, earnings, growth, and our growth strategy. These statements are often, but not always, made using words or phrases such as “will” and “continue” or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These statements relate to future public announcements of our earnings, expectations regarding our loan portfolio, including collections on our taxi medallion loans, the potential for future asset growth, and market share opportunities. Medallion’s actual results may differ significantly from the results discussed in such forward-looking statements. For example, statements about the effects of the current economy, whether inflation or the risk of recession, the effects of tariffs, operations, financial performance and prospects constitute forward-looking statements and are subject to the risk that the actual impacts may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond Medallion’s control. In addition to risks relating to the current economy, for a description of certain risks to which Medallion is or may be subject, please refer to the factors discussed under the heading “Risk Factors” in Medallion’s 2024 Annual Report on Form 10-K.

    Company Contact:

    Investor Relations
    InvestorRelations@medallion.com
    212-328-2176

    Investor Relations
    The Equity Group Inc.
    Lena Cati
    lcati@theequitygroup.com
    (212) 836-9611

    Val Ferraro
    vferraro@theequitygroup.com
    (212) 836-9633

                       
    MEDALLION FINANCIAL CORP.
    CONSOLIDATED BALANCE SHEETS
    (UNAUDITED)
                       
    (Dollars in thousands, except share and per share data)   June 30,
    2025
        December 31,
    2024
        June 30,
    2024
     
    Assets                  
    Cash, cash equivalents, and federal funds sold   $ 151,994     $ 169,572     $ 157,961  
    Investment securities     61,529       54,805       55,830  
    Equity investments     8,097       9,198       10,795  
    Loans held for sale, at lower of amortized cost or fair value     72,490       128,226        
    Loans     2,412,561       2,362,796       2,385,590  
    Allowance for credit losses     (106,896 )     (97,368 )     (89,788 )
    Net loans receivable     2,305,665       2,265,428       2,295,802  
    Goodwill and intangible assets, net     169,227       169,949       170,672  
    Property, equipment, and right-of-use lease asset, net     11,890       13,756       14,094  
    Accrued interest receivable     15,294       15,314       13,299  
    Loan collateral in process of foreclosure     9,007       9,932       9,359  
    Other assets     74,801       32,426       33,064  
    Total assets   $ 2,879,994     $ 2,868,606     $ 2,760,876  
    Liabilities                  
    Deposits   $ 2,009,176     $ 2,090,071     $ 2,006,782  
    Long-term debt     199,928       232,159       230,803  
    Short-term borrowings     86,750       49,000       37,500  
    Deferred tax liabilities, net     19,261       20,995       22,394  
    Operating lease liabilities     4,041       5,128       6,071  
    Accrued interest payable     5,746       8,231       7,945  
    Accounts payable and accrued expenses     22,527       24,064       26,592  
    Total liabilities     2,347,429       2,429,648       2,338,087  
    Total stockholders’ equity     389,896       370,170       354,001  
    Non-controlling interest in consolidated subsidiaries     142,669       68,788       68,788  
    Total equity     532,565       438,958       422,789  
    Total liabilities and equity   $ 2,879,994     $ 2,868,606     $ 2,760,876  
    Number of shares outstanding     23,246,593       23,135,624       23,211,990  
                             
    Book value per share   $ 16.77     $ 16.00     $ 15.25  
                             
    MEDALLION FINANCIAL CORP.‌
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (UNAUDITED)‌
               
        Three Months Ended June 30,     Six Months Ended June 30,
    (Dollars in thousands, except share and per share data)   2025   2024     2025   2024
    Total interest income   $ 77,442   $ 70,704     $ 152,867   $ 137,774
    Total interest expense     24,072     20,836       48,085     39,989
    Net interest income     53,370     49,868       104,782     97,785
    Provision for credit losses     21,562     18,577       43,576     35,778
    Net interest income after provision for credit losses     31,808     31,291       61,206     62,007
    Other income                  
    Gain (loss) on equity investments, net     6,096     (512 )     15,526     3,655
    Gain on sale of recreation loans     1,304           1,304    
    Gain on taxi medallion assets, net     749     242       1,592     830
    Strategic partnership fees     787     480       1,472     806
    Other income     273     889       914     1,211
    Total other income, net     9,209     1,099       20,808     6,502
    Other expenses                  
    Salaries and employee benefits     10,148     9,435       20,141     18,892
    Loan servicing fees     2,899     2,692       5,716     5,162
    Collection costs     1,749     1,659       3,286     3,126
    Regulatory fees     1,109     888       1,930     1,865
    Professional fee costs, net     1,187     1,845       2,937     2,616
    Rent expense     683     698       1,358     1,355
    Amortization of intangible assets     362     362       723     723
    Other expenses     3,408     2,416       6,212     4,481
    Total other expenses     21,545     19,995       42,303     38,220
    Income before income taxes     19,472     12,395       39,711     30,289
    Income tax provision     5,805     3,782       12,518     10,140
    Net income after taxes     13,667     8,613       27,193     20,149
    Less: income attributable to the non-controlling interest     2,598     1,512       4,110     3,024
    Total net income attributable to Medallion Financial Corp.   $ 11,069   $ 7,101     $ 23,083   $ 17,125
    Basic net income per share   $ 0.49   $ 0.31     $ 1.02   $ 0.76
    Diluted net income per share   $ 0.46   $ 0.30     $ 0.96   $ 0.73
    Weighted average common shares outstanding                  
    Basic     22,783,947     22,598,102       22,677,961     22,619,743
    Diluted     24,058,084     23,453,162       23,978,214     23,609,104
    Dividends declared per common share   $ 0.12   $ 0.10     $ 0.24   $ 0.20

    The MIL Network

  • MIL-OSI: Oxbridge / SurancePlus to Attend Rare Evo 2025 in Las Vegas

    Source: GlobeNewswire (MIL-OSI)

    GRAND CAYMAN, Cayman Islands, July 30, 2025 (GLOBE NEWSWIRE) — Oxbridge Re Holdings Limited (Nasdaq: OXBR) (“Oxbridge Re”), a leader in digitizing reinsurance securities as tokenized real-world assets (RWAs), together with its subsidiary SurancePlus, today announced its participation in Rare Evo 2025, a premier blockchain convention held August 6–10, 2025 at Caesars Palace in Las Vegas, Nevada.

    Rare Evo brings together blockchain projects, industry leaders, investors, and developers in a celebration of decentralized innovation and interoperability. With hundreds of exhibitors, capital allocators, and developers in attendance, the event is designed to foster collaboration across ecosystems and bridge the gap between Web2 and Web3.

    At Rare Evo, the Oxbridge / SurancePlus team will engage with a broad network of blockchain and financial market participants to showcase its category-defining tokenized reinsurance securities, and to advance discussions surrounding its partnership with Midnight—a next-generation privacy blockchain from the creators of Cardano, led by founder Charles Hoskinson.

    Jay Madhu, Chairman and CEO of Oxbridge and SurancePlus, commented: “Rare Evo provides a valuable opportunity to connect with partners and leaders across the Web3 ecosystem. We look forward to discussing our work in tokenized reinsurance and how our partnership with Midnight will support enhanced privacy and interoperability for investors.”

    About Oxbridge Re Holdings Limited

    Oxbridge Re Holdings Limited (NASDAQ: OXBR, OXBRW) (“Oxbridge”) is headquartered in the Cayman Islands. The company offers tokenized Real-World Assets (“RWAs”) as tokenized reinsurance securities and reinsurance business solutions to property and casualty insurers, through its wholly owned subsidiaries SurancePlus Inc., Oxbridge Re NS, and Oxbridge Reinsurance Limited.

    Insurance businesses in the Gulf Coast region of the United States purchase property and casualty reinsurance through our licensed reinsurers Oxbridge Reinsurance Limited and Oxbridge Re NS.

    Our Web3-focused subsidiary, SurancePlus Inc. (“SurancePlus”), has developed the first “on chain” reinsurance RWA of its kind to be sponsored by a subsidiary of a publicly traded company. By digitizing interests in reinsurance contracts as on-chain RWAs, SurancePlus has democratized the availability of reinsurance as an alternative investment to both U.S. and non U.S. investors.

    Company Contact:

    Oxbridge Re Holdings Limited
    Jay Madhu, CEO
    +1 345-749-7570
    jmadhu@oxbridgere.com

    Forward-Looking Statements

    This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. A detailed discussion of risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in the section entitled “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission (“SEC”) on 26th March 2025 and in our other filings with the SEC. The occurrence of any of these risks and uncertainties could have a material adverse effect on the Company’s business, financial condition and results of operations. Any forward-looking statements made in this press release speak only as of the date of this press release and, except as required by law, the Company undertakes no obligation to update any forward-looking statement contained in this press release, even if the Company’s expectations or any related events, conditions or circumstances change.

    The MIL Network

  • MIL-OSI USA: UConn Medical Students Bike Cross-Country for Suicide Prevention

    Source: US State of Connecticut

    Two second-year UConn medical students successfully completed their coast-to-coast bike ride for a cause cycling in just 50 days, over 3,200 miles, and even in a heat index of 100 degrees.

    But who’s counting?

    James Marks and Zach Giguere arriving back to UConn School of Medicine on July 30, 2025 (UConn Photo/Lauren Woods).

    James Marks, 25, of Guilford and Zach Giguere, 24, of Windsor are no longer counting miles nor minutes to being home in Connecticut. On July 30, their triumphant return home was celebrated outside UConn School of Medicine where they were greeted at the Academic Entrance by the loud and proud cheers of their fellow medical school classmates, faculty, and families.

    The song “The Boys are Back in Town” played from a classmate’s car. And another classmate Jack O’Donnell shouted, “The boys are back!”

    (UConn Photo/Lauren Woods.)

    The two UConn cyclists’ mighty, once-in-a- lifetime coast-to-coast bike ride started on the West Coast on June 10 in Seattle. The ride was in honor of a lifesaving cause – suicide prevention, and their mission was to raise awareness and funds to advance national mental health research via the American Foundation for Suicide Prevention.

    They far exceeded their mission.

    “It’s amazing. We started with a $10,000 fundraising goal and so have raised well over $20,000. It feels really good,” said Marks. “That was the whole point of our trip.”

    Their bike trek marks the 20th anniversary that UConn medical and dental students have made the huge summer Coast-2-Coast bike journey annually across America for varied health causes.

    “We believe that investing in suicide prevention—through research, crisis support, and accessible mental health care—can save lives. We are committed to raising awareness, advocating for change, and ensuring that no one feels alone in their struggle,” the UConn students shared.

    Suicide prevention is deeply personal to Marks. “I lost my Dad,” Marks shared at the start of the bike trip. “I am glad I can do this journey to raise awareness.” Giguere adds, “Our ultimate goal was to raise awareness of suicide and get people to talk about it, so we can prevent it.”

    On July 31 they ride a few more miles, thankfully with no more heavy bike gear, to ceremoniously dip their wheels in the ocean along the Madison, Conn. shore.

    “I can’t wait to jump in the ocean,” said Giguere.

    “And shower,” he added.

    UConn medical student Zach Giguere was also welcomed home from his cross-country bike trek by his mom Lisa (UConn Photo/Lauren Woods).

    Giguere celebrated his 24th birthday on the road and his mother Lisa can’t wait to celebrate his belated birthday with a homemade blueberry pie, the first pie she ever baked. She even handpicked the blueberries for the special occasion.

    “Zach was never much of a bike person,” shared Mom who was surprised he was even game for the long bike journey. “James did it for very personal reasons. Zach did it because he knows how important the cause is. I’m so proud of both of them.”

    The UConn medical students did have just a little prep, 5 or 6 classes, training for their big trip thanks to their medical student classmate Alyssa Harduby who teaches a spin class at UConn Health’s Wellness Center.

    Second-year UConn medical student Brooke Charria who helped organize the students’ homecoming shared, “We are very proud of them. It’s such an accomplishment. It’s not something everyone can do. They even doubled their fundraising goal.”

    The two riders and future doctors loved seeing America.

    “Minnesota was awesome!” Marks exclaimed, as they even saw a Twins baseball game. “Minnesota was one of the best parts of the trip. Minneapolis is a great city.”

    (UConn Photo/Lauren Woods).

    The two men had great appreciation of all the kind Americans they met, for all those who graciously hosted and sheltered them during their long journey, and the chance to see the country.

    They also noted that the Midwest wants more doctors: “Everyone asked us to come back and be doctors there.”

    “We even saw a rodeo in North Dakata,” Giguere shared.

    “We had freezing rain in Montana. It was really cold! Our hottest weather is probably today in Connecticut!” Marks said sharing that nothing beats being finally home in Connecticut.

    “It was such a good feeling seeing the Welcome to Connecticut sign,” Marks sighed with relief. During the epic bike trip, he and Giguere have even become bike repair experts.

    “We had a bunch of flat tires. I’m pretty quick at changing them now. We’ll add it to the resume,” Marks concluded.

    Welcome home to Connecticut and UConn James and Zach! Go Huskies!

    (UConn Photo/Lauren Woods).

    Donate to their suicide prevention cause. 

    Follow their Coast-2-Coast journey on Instagram @_coast2coast25_

    MIL OSI USA News

  • MIL-Evening Report: The Man from Hong Kong at 50: how the first ever Australian–Hong Kong co-production became a cult classic

    Source: The Conversation (Au and NZ) – By Gregory Ferris, Senior Lecturer, Media Arts & Production, University of Technology Sydney

    LMPC via Getty Images

    A cinematic firecracker of a film exploded onto international screens 50 years ago this week, blending martial arts mayhem, Bond-esque set pieces, casual racism – and a distinctly Australian swagger.

    From its audacious visual style; to its complex, life-threatening stunts; to its pioneering status as an international co-production, Brian Trenchard-Smith’s The Man from Hong Kong has solidified its place as a cult classic.

    The plot is deceptively simple. A Sydney-based crime lord’s activities come under the scrutiny of a determined Hong Kong detective, Inspector Fang Sing Leng. A fiery East-meets-West martial arts showdown explodes across the Australian landscape, pushing both sides to their limits.

    Jimmy Wang Yu (known at the time as Asia’s Steve McQueen) plays Inspector Fang Sing Leng. Fang delivers justice with his fists and uses his wits navigating greater Sydney, with help from the local constabulary and its adoring female population.

    The movie is a playful pastiche that confidently combines martial arts action, police procedurals, spy thrillers, and Westerns, all filtered through a distinctly Australian “crash-zoom” lens.

    An Australia–Hong Kong co-production

    The Man from Hong Kong was the first official Australia–Hong Kong co-production, uniting Hong Kong’s Golden Harvest studio with Australian producer John Fraser.

    This model would pave the way for numerous future collaborations – the film demonstrating that Australia was open for international (film) business, albeit with some constraints, such as shooting locales.

    In The Man from Hong Kong’s case, the financial arrangement was 50/50. As a result, half of the film had to be shot in Hong Kong, despite 85% of the storyline being set in Australia. Many of the interiors were filmed in Hong Kong studios to meet this production requirement.

    An example of this is the interrogation scene, which alternates between its Sydney exteriors and a fight scene taking place in the interior film set shot thousands of miles away at the Golden Harvest studios.

    In a genius bit of montage, the scene jumps from a shot of a kick in the crotch to a close-up of pool balls breaking on a table.

    A film of cunning stunts

    The Man from Hong Kong served as a reunion of sorts for many of the cast and crew, either starring in Stone (1974) or featuring in Trenchard-Smith’s documentary about martial arts films, Kung Fu Killers (1974).

    The film was an influence to Quentin Tarantino and paved the way for films such as Mad Max (1979), particularly in what Trenchard-Smith and his partner in film, stunt legend Grant Page, might call its “cunning stunts”.

    The elaborate car chases and explosive stunt setups in The Man from Hong Kong served as prototypes for iconic sequences that would inspire the Mad Max films, among others, a testament to a bygone era of practical effects and thrill seeking audacity.

    Car crashes and other explosive stunts were executed without permits or road closures. This sense of chaos is heightened by the stunts being performed by the actors themselves, adding a sense of immediacy and peril.

    An example of this is set on the cliffs at Stanwell Park. Wang Yu drives at speed towards the waiting Caroline, executing a precision gravel slide that misses Caroline’s car by under a metre, the shot continuing as he exits the car to greet her.

    Part character, and part tourism advert

    Trenchard-Smith’s script wasn’t shy in its depiction of culture clash, especially when it came to the racist attitudes of the Australian characters.

    But as Trenchard-Smith recalls:

    Our lead character, a Chinese Dirty Harry/James Bond upends these racial stereotypes by being smarter, sexier, and tougher than his opponents.

    Cinematographer Russell Boyd brings a sharp, dynamic (did I mention the crash-zooms?) visual style to the film that deftly matches the on-screen action.

    The film’s Australian setting is part character and part tourism advert – from the “Ayers Rock” (Uluru) cold opener, to the cafe scene on the Opera House forecourt.

    Pure cinema

    Stunt legend Grant Page appears in multiple villainous roles throughout the film, with the martial arts choreography handled by the legendary director Sammo Hung, who also played the role of Win Chan.

    The cast was a fascinating mix of talent and personality. Wang Yu, a martial arts icon, was also an established film director, leading to creative clashes on set with Trenchard-Smith.

    Playing the film’s villain is George Lazenby, whose casting added another layer of meta-textual intrigue, positioning him as an antagonist to a character who was explicitly a Bond villain archetype.

    The Man from Hong Kong remains an exhilarating piece of pure cinema, despite its relatively small budget. It’s an exemplar (and occasional cautionary tale) for filmmakers in terms of international co-production, its cunning stunts, and genre blending.

    The film is a testament to a moment when Australian cinema was confidently looking outwards, ready to take on the world, one explosive car crash at a time.

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

    ref. The Man from Hong Kong at 50: how the first ever Australian–Hong Kong co-production became a cult classic – https://theconversation.com/the-man-from-hong-kong-at-50-how-the-first-ever-australian-hong-kong-co-production-became-a-cult-classic-260306

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: How migrant business owners turn their identity into an asset, despite some bumps along the way

    Source: The Conversation (Au and NZ) – By Shea X. Fan, Associate Professor, Human Resource Management, Deakin University

    Odua Images/Shutterstock

    Too often, it’s anti-immigration sentiment dominating headlines in Australia. But a quieter story is going untold. Migrants are not just fitting into Australian society, they’re actively reshaping it through entrepreneurship.

    Starting a business is difficult for anyone. But migrant entrepreneurs often do so without the networks, credit history, or local knowledge many Australian-born business owners take for granted.

    Our new research drew on interviews with 38 migrant business owners from 25 different countries, who had all lived in Australia for at least five years.

    We found many are able to turn everyday exclusion into entrepreneurial fuel.
    Many have been able to survive – even thrive – by turning their identity into an asset.

    Yet there is still more we can do to take migrant entrepreneurship seriously and make it a core part of our economic and social planning.

    Key challenges

    Our research reveals migrant business owners face many forms of marginalisation. Some of these are well-understood among the public, others less so.

    One of the biggest is social. Arriving in a new country without established relationships in the community or financial sector, many struggle to gain customer trust or secure loans. It can also mean having less of a safety net.

    As one interviewee put it:

    I don’t have networks built up over the generations to sustain me and give me time to jump back out [of financial difficulties] […] For migrant entrepreneurs, we often do not have such a structure to absorb risks.

    Cultural stereotypes also hinder migrant entrepreneurs, and negative media portrayals can reinforce these biases. Even with local qualifications, they are often perceived as less professional or competent due to race, religion, accent or appearance.

    Many interviewees spoke of constantly having to prove their legitimacy – being overlooked, second-guessed or treated as representatives of their ethnic group rather than as individual business people.

    Establishing social networks in a new country can be difficult.
    Peterfz30/Shutterstock

    Structural barriers

    While the lack of networks and cultural acceptance undermines confidence and connection, structural barriers directly constrain access to the resources needed to survive and expand.

    Without a local credit history or collateral, many are ineligible for loans, yet need those very funds to build their credit standing. Even long-settled migrants found Australia’s legal, bureaucratic and financial systems difficult to navigate.

    Language barriers and unfamiliar regulations can add layers of complexity to this problem. While government support programs exist, they are often inaccessible, or the availability of those programs are poorly communicated to culturally diverse communities.

    These social and systemic disadvantages can push migrant business owners into informal markets or ethnic enclaves, where opportunities are fewer and risks higher.

    Turning identity into an asset

    Despite these barriers, migrant entrepreneurs often find ways to survive. One key strategy is to turn marginalised identities into business strengths.

    Our research found some migrants begin by serving customers from their own ethnic communities, leveraging shared language, culture and trust. Once established, they expand to other migrant groups or the broader public.

    In sectors such as food, fashion and wellness, cultural authenticity can be a competitive advantage.

    One hairdresser from Korea, for example, drew clients by offering Korean styling techniques popularised by the global rise of the Korean popular music style K-pop. She said this gave her work appeal among other migrant groups:

    Korean hairdressers are actually attractive to other Asian countries because Korean hairstyles are considered fashionable and detailed. It’s getting popular here too. This is like free marketing for me.

    One interviewee said her connection to Korea had turned into a business asset.
    kikujungboy CC/Shutterstock

    And rather than simply competing on price, many migrant businesses offer something different: handmade, ethical, sustainable or culturally-rooted products. An Indian small business owner started her business by selling curry pastes made from her own family recipes, telling us:

    I use my family’s traditional Indian recipes to create small spice packs, making it easy for Australians, mostly non-Indian customers, to cook authentic dishes at home.

    Such ventures create not only economic value, but also spaces of cultural exchange and community belonging.

    There’s more we can do

    The most recent figures show migrant entrepreneurs make up one in three small business owners in Australia. Research conducted in 2017 found the vast majority of migrant entrepreneurs had not owned a business before migration.

    With fewer systemic barriers and better support, their potential to contribute would be even greater. There are a range of actions policymakers, local councils, support organisations and local businesses could take.

    First, access could be expanded to small business grants by removing overly complex eligibility and documentation barriers.

    We should also support migrants to navigate collectively “gatekeeping” practices that lock them out of lending, investment and business certification.

    That could include developing alternative credit assessment tools for migrants without a local credit history. There are already some microloan schemes tailored to new migrants or visa holders, including Thrive Refugee Enterprise.

    At the same time, we need to ensure such schemes are being effectively communicated to the communities they’re intended to serve.

    And we need media narratives and public campaigns that highlight successful migrant businesses. Crucially, both policy and practice must be informed by the voices and experiences of migrant entrepreneurs themselves, not just as case studies, but as co-designers of better systems.

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

    ref. How migrant business owners turn their identity into an asset, despite some bumps along the way – https://theconversation.com/how-migrant-business-owners-turn-their-identity-into-an-asset-despite-some-bumps-along-the-way-261948

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: StoneX Group Inc. to Announce 2025 Fiscal Third Quarter Earnings on August 5, 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 30, 2025 (GLOBE NEWSWIRE) — StoneX Group Inc. (NASDAQ: SNEX) today announced that it will release its fiscal 2025 third quarter results after the market close on Tuesday, August 5, 2025. Management will host a conference call on Wednesday, August 6, 2025 at 9:00 a.m. Eastern Time to review the Company’s 2025 fiscal third quarter results.

    A live web cast of the conference call as well as additional information to review during the call will be made available in PDF form at https://www.stonex.com. Participants can also access the call via https://register-conf.media-server.com/register/BI844176c186b3462a83744b4b3946a567 approximately ten minutes prior to the start time. Participants may preregister for the conference call here.

    For those who cannot access the live broadcast, a replay of the call will be available at https://www.stonex.com.

    About StoneX Group Inc.

    StoneX Group Inc., through its subsidiaries, operates a global financial services network that connects companies, organizations, traders and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high touch service and deep expertise. The Company strives to be the one trusted partner to its clients, providing its network, product and services to allow them to pursue trading opportunities, manage their market risks, make investments and improve their business performance. A Fortune-500 company headquartered in New York City and listed on the Nasdaq Global Select Market (NASDAQ:SNEX), StoneX Group Inc. and its more than 4,700 employees serve more than 54,000 commercial, institutional, and global payments clients, and more than 400,000 self-directed/retail accounts, from more than 80 offices spread across six continents. Further information on the Company is available at www.stonex.com.

    CONTACT: StoneX Group Inc.

    Investor Inquiries:

    Kevin Murphy
    (212) 403 – 7296
    kevin.murphy@stonex.com

    SNEX-G

    The MIL Network

  • MIL-OSI USA: Tillis, Colleagues Introduce Framework to Combat Foreign Online Piracy, Protect American Copyright Holders

    US Senate News:

    Source: United States Senator for North Carolina Thom Tillis

    WASHINGTON, D.C. – Today, Senators Thom Tillis (R-NC), Chris Coons (D-DE), Marsha Blackburn (R-TN), and Adam Schiff (D-CA) introduced a discussion draft of the Block Bad Electronic Art and Recording Distributors (Block BEARD) Act of 2025 bipartisan legislation that would allow copyright owners, who have had their property stolen, to seek U.S. federal court action to block dedicated foreign online piracy operations from making that stolen content available to American households. 

    “Foreign piracy sites are stealing from American creators, threatening good-paying jobs, and exposing U.S. consumers to real online harms via malware, identity theft, and the like,” said Senator Tillis. “The Block BEARD Act gives us a smart, targeted tool to stop these criminal operations at the source without infringing on legitimate speech or due process. I’m proud to lead this bipartisan discussion to protect our creative economy and digital security and I look forward to continuing to work with my colleagues in the House to address this important matter.” 

    “Foreign websites pirating American movies, TV shows, art, and books steal tens of billions of dollars from the U.S. economy each year,” said Senator Coons. “This costs our creative community hundreds of thousands of jobs. Today, the United States takes an important step to join the many other nations around the world that have taken steps to crack down on foreign IP theft. This bipartisan legislation will give Americans the tools they need to protect their intellectual property rights, while ensuring the internet remains a vibrant forum for free speech. I look forward to working with my colleagues and with stakeholders on all sides of this issue to advance this much-needed bill.”

    “Tennessee’s thriving creative community must be protected from the theft of creative works by foreign criminals,” said Senator Blackburn. “Foreign piracy operations jeopardize the American creative industry through phishing, identity theft, and financial fraud, and the Block BEARD Act would protect creators by enabling them to pursue legal action in U.S. federal courts against these criminals.”

    “I’m proud to join my colleagues in this effort to protect creators and consumers alike from foreign criminal enterprises seeking to steal our intellectual property and exploit Americans,” said Senator Schiff. “As Ranking Member of the Senate Judiciary Subcommittee on Intellectual Property and a steadfast advocate for the creative community, I understand that robust protections are essential for innovation and economic growth in the digital age. This commonsense approach will provide the courts with the tools they need to combat foreign piracy operations and help level the playing field for American artists and creators who deserve to be fairly compensated for their work.” 

     “We are grateful to Senators Tillis, Coons, Blackburn, and Schiff for their leadership in crafting a carefully tailored proposal that empowers US federal courts to protect consumers, rightsholders, and markets from large scale foreign piracy while preserving the protections contained in the DMCA,” said Mitch Glazier, Chairman and CEO, Recording Industry Association of America. “Similar tools have been proven effective around the world over the last ten years with no harm to speech, Internet infrastructure or security, or participation online, and we strongly support this effort to create a simple, effective, judicial remedy with due process in the U.S.”

    “Piracy steals hundreds of thousands of jobs from the film and television industry, drains billions from the U.S. economy, and puts millions of American consumers at risk – and the Block BEARD Act will provide us with a safe and effective way to counter this danger and combat large-scale copyright infringement,” said Charles Rivkin, Chairman and CEO, Motion Picture Association. “With bold leadership from Senators Tillis, Coons, Blackburn, and Schiff, the Block BEARD Act will equip our nation with a tool that’s worked in dozens of countries worldwide: a narrow, targeted means to fight the worst forms of foreign piracy while protecting free speech and the rule of law.”

    Background:

    The Block BEARD Act would empower copyright owners to seek U.S. federal court orders against foreign websites dedicated to digital piracy, preventing them from making stolen content accessible to American households. To obtain relief, copyright holders must present evidence of specific harm and demonstrate the criminal nature of the targeted site. Courts could then direct internet service providers block access to the identified sites, while granting those providers immunity from liability, including for claims related to the petitioner’s actions.  The legislation includes strong public interest safeguards to protect free expression, due process, and legitimate online services operating in compliance with U.S. law. This targeted legal tool mirrors successful approaches used in over 50 democratic countries to curb foreign piracy operations that undermine creative industry jobs and expose users to malware, identity theft, and fraud.  

    Full text of the Block BEARD Act is available HERE.

    MIL OSI USA News

  • MIL-OSI Australia: Call for information – Assault – Palmerston

    Source: Northern Territory Police and Fire Services

    The Northern Territory Police Force are calling for information in relation to an alleged aggravated assault that occurred in Woodroffe early this morning.

    Around 1:20am, the Joint Emergency Services Communication Centre received reports of a man, aged in his 30’s, with puncture wounds to his back and chest in the vicinity of Woodroffe Park.

    Emergency Services attended and the man was conveyed to Royal Darwin Hospital in a serious condition.

    Initial investigations indicate the man may have been assaulted by an unknown man with a bottle.

    A crime scene has been declared and police will be working near the intersection of Woodroffe Avenue and Sirius Road.

    Traffic diversions are in place and Sirius Road will be closed from Woodroffe Avenue to Altair Court throughout the morning.

    Police urge anyone with information about the incident, particularly if you have home CCTV near Woodroffe Park, to make contact on 131 444, quoting reference number P25203523. Anonymous reports can be made through Crime Stoppers on 1800 333 000.

    MIL OSI News

  • MIL-OSI Security: Met prioritises neighbourhood policing to tackle crime in London hotspots

    Source: United Kingdom London Metropolitan Police

    The Metropolitan Police is ruthlessly prioritising resources and putting more officers on the beat in the busiest parts of London – including the West End – to focus on core policing priorities, protect the public, and tackle areas with high crime.

    Despite the Met getting smaller, it is applying more resources and smarter tactics to tackle the biggest priorities.

    Up to 80 more officers will join the dedicated West End team to bear down on crimes which Londoners care about the most – including antisocial behaviour, violence against women and girls, shoplifting and phone robbery – as part of the Met’s focus on neighbourhood policing.

    The intensified action is part of ongoing work by the Met and Mayor of London to boost local neighbourhood teams, enhance partnership working and put high visibility policing at the heart of fighting crime and rebuilding trust.

    The West End will see its policing team grow by over 50 per cent so they can relentlessly target prolific offenders as well as being visible and approachable to protect the public and deter criminals.

    Six town centre teams will also be expanded or newly created with 90 additional officers in areas with the highest volumes of thefts and robberies covering Brixton, Kingston, Ealing, Finsbury Park, Southwark, and Spitalfields.

    Commissioner Sir Mark Rowley said:

    “The Met is getting smaller but more capable. We have a laser-like focus on ensuring our officers and staff are in roles where they can drive down crime on issues that matter the most to Londoners.

    “This is what the public expects of the police, which is why we are putting neighbourhood policing first, tackling the crimes that we know are impacting the public in the busiest areas, and making the capital’s streets safer.

    “We’re adding up to 170 additional officers, split between the West End and town centres across London. Thanks to the hard work of our local teams, neighbourhood crime has already fallen by almost a fifth over the last year and moving these officers to the frontline will make sure we are a more visible presence in London.

    “While our budget has decreased in real terms, we are using this additional funding from City Hall and Home Office productively to support our mission to take a targeted approach to tackling volume crime and bolster our specialist tactics to disrupt the criminal gangs who fuel anti-social behaviour, robbery and theft.”

    The Mayor of London, Sadiq Khan, said:

    “Nothing is more important to me than keeping Londoners safe. Thanks to record funding from City Hall, the West End will see a 50 per cent increase in the number of police officers on the beat and an additional 90 police officers working in new or enhanced town centre teams in hotspot areas.

    “Despite years of austerity by the previous government, this is the latest example of the Met Police and I prioritising what Londoners want and delivering on our pledge to put high visibility policing at the heart of fighting crime and rebuilding community confidence and trust.

    “These new and boosted Safer Neighbourhood Teams will focus on tackling antisocial behaviour, phone robbery and shoplifting in key areas. This fresh targeted action is happening in tandem with enhanced police and partnership work already underway in our high streets and town centres this summer. We will continue to build on the crime reductions already achieved in the capital – with robbery, theft and knife crime down since the start of the financial year – to build a safer London for all.”

    Already, the Met has recruited over 300 additional PCSOs for neighbourhood policing teams towards a target of 500, as well as adding over 300 officers from Superintendents to Constables.

    This work to focus resource in the right places, builds on enhanced partnership action with local authorities, businesses and communities to tackle crime in London’s busy town centres and high streets, announced earlier this month.

    The Met is arresting 1000 more criminals each month and thanks to the hard work of its officers, London’s Violence Reduction Unit, Mayor’s Office for Policing and Crime (MOPAC), local authorities and partners, the first six weeks of this financial year have seen promising reductions in a number of crime types compared to the same period last year.

    • Neighbourhood crime down by 15.3 per cent
    • Knife crime down by 18.1 per cent
    • Residential burglary down by 17.7 per cent
    • Theft from the person down by 15.6 per cent
    • Personal robbery down by 12.8 per cent
    • Shoplifting – solved 163 per cent more cases this year
    • In the West End specifically the Met has reduced:
    • Personal robbery by 20%
    • Violence with injury by 25%
    • Violence against a person by 8%

    Ros Morgan, Chief Executive, Heart of London Business Alliance:

    “A safer West End is essential to its success. We welcome the Mayor and Met Commissioner’s response to our calls for more policing. With over 200 million visitors a year and a £50 billion contribution to the UK economy, keeping this district secure isn’t optional — it’s vital. We’ll continue working with the Met to protect the West End’s reputation as a world-class destination.”

    Dee Corsi, Chief Executive, New West End Company, said:

    “We know, first-hand, the incredible work that the Metropolitan Police Service undertakes every day here in the West End to tackle anti-social behaviour, shoplifting, phone robbery and violence against women and girls. But we also know that tackling complex crime challenges is more difficult when resources are squeezed. That’s why today’s announcement, and renewed commitment to the West End, is a critical step forward. We will continue to work in partnership with the Metropolitan Police Service, the Mayor of London and other local stakeholders to ensure the West End remains safe and welcoming for all.”

    Anthony Hemmerdinger, Managing Director, Boots said:

    “Retail theft alongside intimidation and abuse of our team members is unacceptable, so we welcome this additional support from the Mayor and Metropolitan Police to increase resources in some of our busiest central London store locations.

    “While we continue to invest significantly in schemes to deter and disrupt crime, including our state-of-the-art CCTV monitoring centre and bodycams for our team members in stores, it is only through close partnership working with Government, Police, and local communities, that we can ensure high streets feel like welcoming and safe spaces for people to work, shop and visit, all the time.”

    Against the backdrop of these improvements and increased demand for policing in London, tough choices are still being made across the organisation.

    The Met is shrinking overall by 1,700 officers and staff – they have started by moving officers from the dedicated Royal Parks policing team and schools officers into local policing teams. This will ensure officers are part of larger neighbourhood policing teams, policing parks as part of larger teams and ensuring children are safe on their school commute where they are most at risk.

    The Met are going further to place officers on the beat, ensuring London is a safer place to live, work and visit. A more visible presence will increase reassurance for the public and create a hostile environment for criminals who will be arrested in greater numbers.

    The Met secured additional funding after submitting their draft budget which laid out how they would spend their money in 2025/26. As a result, they are using £32 million of additional funding from City Hall and the Home Office to reduce the total officer and staff reductions in priority areas.

    The efficiency savings are due to real-term reductions in public spending on policing and every decision the Met makes is to ensure resources are focussed in the most vital areas and on core-policing priorities.

    The funding will also allow specialist police capabilities to be expanded to support neighbourhood policing priorities and improve out outcomes in tackling high-harm offenders and violence against women and girls. This will include:

    • Bolstering Flying Squad with over 50 additional officers to support neighbourhood policing as they tackle the organised crime gangs that fuel phone robbery and shoplifting.
    • Scaling up our use of Live Facial Recognition (LFR) more widely supported by additional officers and staff. Currently LFR is used four times a week across two days, but this will increase up to five days a week, delivering up to 10 deployments a week across London to drive up arrests of wanted offenders.
    • The Public Order Crime Team will expand to accommodate the rise in protest-related criminal investigations to ensure frontline officers are freed up to focus on local issues. Demand in this area increased in the last two years.
    • Additional resource will be funded to support local policing teams to coordinate work to hunt down dangerous and predatory offenders identified in our V100 and Violence Harm Assessment work.

    As well as targeting resource in specific priority areas, the funding has allowed the Met to reduce some of the previously outlined cuts – including providing 17 officers to join neighbourhood policing teams to support the continued policing of Royal Parks as part of our business as usually work and stopping previously proposed reductions to Flying Squad.

    The Met is also publishing A New Met for London: Phase 2 – a plan for the next three years, following the success of the first plan to deliver more trust, less crime and high standards.

    The new plan focusses on shedding distractions and bureaucracy that divert police away from crime-fighting, allowing our officers and staff to focus on what matters most to the public we serve, making greater use of technologies such as live facial recognition and automation, and providing officers and staff with the tools and equipment they need, to be more effective and more productive.

    The Met is asking the public for their views. To share your views complete this survey: https://www.surveymonkey.com/r/6NCR3LH

    MIL Security OSI

  • MIL-OSI Security: Met prioritises neighbourhood policing to tackle crime in London hotspots

    Source: United Kingdom London Metropolitan Police

    The Metropolitan Police is ruthlessly prioritising resources and putting more officers on the beat in the busiest parts of London – including the West End – to focus on core policing priorities, protect the public, and tackle areas with high crime.

    Despite the Met getting smaller, it is applying more resources and smarter tactics to tackle the biggest priorities.

    Up to 80 more officers will join the dedicated West End team to bear down on crimes which Londoners care about the most – including antisocial behaviour, violence against women and girls, shoplifting and phone robbery – as part of the Met’s focus on neighbourhood policing.

    The intensified action is part of ongoing work by the Met and Mayor of London to boost local neighbourhood teams, enhance partnership working and put high visibility policing at the heart of fighting crime and rebuilding trust.

    The West End will see its policing team grow by over 50 per cent so they can relentlessly target prolific offenders as well as being visible and approachable to protect the public and deter criminals.

    Six town centre teams will also be expanded or newly created with 90 additional officers in areas with the highest volumes of thefts and robberies covering Brixton, Kingston, Ealing, Finsbury Park, Southwark, and Spitalfields.

    Commissioner Sir Mark Rowley said:

    “The Met is getting smaller but more capable. We have a laser-like focus on ensuring our officers and staff are in roles where they can drive down crime on issues that matter the most to Londoners.

    “This is what the public expects of the police, which is why we are putting neighbourhood policing first, tackling the crimes that we know are impacting the public in the busiest areas, and making the capital’s streets safer.

    “We’re adding up to 170 additional officers, split between the West End and town centres across London. Thanks to the hard work of our local teams, neighbourhood crime has already fallen by almost a fifth over the last year and moving these officers to the frontline will make sure we are a more visible presence in London.

    “While our budget has decreased in real terms, we are using this additional funding from City Hall and Home Office productively to support our mission to take a targeted approach to tackling volume crime and bolster our specialist tactics to disrupt the criminal gangs who fuel anti-social behaviour, robbery and theft.”

    The Mayor of London, Sadiq Khan, said:

    “Nothing is more important to me than keeping Londoners safe. Thanks to record funding from City Hall, the West End will see a 50 per cent increase in the number of police officers on the beat and an additional 90 police officers working in new or enhanced town centre teams in hotspot areas.

    “Despite years of austerity by the previous government, this is the latest example of the Met Police and I prioritising what Londoners want and delivering on our pledge to put high visibility policing at the heart of fighting crime and rebuilding community confidence and trust.

    “These new and boosted Safer Neighbourhood Teams will focus on tackling antisocial behaviour, phone robbery and shoplifting in key areas. This fresh targeted action is happening in tandem with enhanced police and partnership work already underway in our high streets and town centres this summer. We will continue to build on the crime reductions already achieved in the capital – with robbery, theft and knife crime down since the start of the financial year – to build a safer London for all.”

    Already, the Met has recruited over 300 additional PCSOs for neighbourhood policing teams towards a target of 500, as well as adding over 300 officers from Superintendents to Constables.

    This work to focus resource in the right places, builds on enhanced partnership action with local authorities, businesses and communities to tackle crime in London’s busy town centres and high streets, announced earlier this month.

    The Met is arresting 1000 more criminals each month and thanks to the hard work of its officers, London’s Violence Reduction Unit, Mayor’s Office for Policing and Crime (MOPAC), local authorities and partners, the first six weeks of this financial year have seen promising reductions in a number of crime types compared to the same period last year.

    • Neighbourhood crime down by 15.3 per cent
    • Knife crime down by 18.1 per cent
    • Residential burglary down by 17.7 per cent
    • Theft from the person down by 15.6 per cent
    • Personal robbery down by 12.8 per cent
    • Shoplifting – solved 163 per cent more cases this year
    • In the West End specifically the Met has reduced:
    • Personal robbery by 20%
    • Violence with injury by 25%
    • Violence against a person by 8%

    Ros Morgan, Chief Executive, Heart of London Business Alliance:

    “A safer West End is essential to its success. We welcome the Mayor and Met Commissioner’s response to our calls for more policing. With over 200 million visitors a year and a £50 billion contribution to the UK economy, keeping this district secure isn’t optional — it’s vital. We’ll continue working with the Met to protect the West End’s reputation as a world-class destination.”

    Dee Corsi, Chief Executive, New West End Company, said:

    “We know, first-hand, the incredible work that the Metropolitan Police Service undertakes every day here in the West End to tackle anti-social behaviour, shoplifting, phone robbery and violence against women and girls. But we also know that tackling complex crime challenges is more difficult when resources are squeezed. That’s why today’s announcement, and renewed commitment to the West End, is a critical step forward. We will continue to work in partnership with the Metropolitan Police Service, the Mayor of London and other local stakeholders to ensure the West End remains safe and welcoming for all.”

    Anthony Hemmerdinger, Managing Director, Boots said:

    “Retail theft alongside intimidation and abuse of our team members is unacceptable, so we welcome this additional support from the Mayor and Metropolitan Police to increase resources in some of our busiest central London store locations.

    “While we continue to invest significantly in schemes to deter and disrupt crime, including our state-of-the-art CCTV monitoring centre and bodycams for our team members in stores, it is only through close partnership working with Government, Police, and local communities, that we can ensure high streets feel like welcoming and safe spaces for people to work, shop and visit, all the time.”

    Against the backdrop of these improvements and increased demand for policing in London, tough choices are still being made across the organisation.

    The Met is shrinking overall by 1,700 officers and staff – they have started by moving officers from the dedicated Royal Parks policing team and schools officers into local policing teams. This will ensure officers are part of larger neighbourhood policing teams, policing parks as part of larger teams and ensuring children are safe on their school commute where they are most at risk.

    The Met are going further to place officers on the beat, ensuring London is a safer place to live, work and visit. A more visible presence will increase reassurance for the public and create a hostile environment for criminals who will be arrested in greater numbers.

    The Met secured additional funding after submitting their draft budget which laid out how they would spend their money in 2025/26. As a result, they are using £32 million of additional funding from City Hall and the Home Office to reduce the total officer and staff reductions in priority areas.

    The efficiency savings are due to real-term reductions in public spending on policing and every decision the Met makes is to ensure resources are focussed in the most vital areas and on core-policing priorities.

    The funding will also allow specialist police capabilities to be expanded to support neighbourhood policing priorities and improve out outcomes in tackling high-harm offenders and violence against women and girls. This will include:

    • Bolstering Flying Squad with over 50 additional officers to support neighbourhood policing as they tackle the organised crime gangs that fuel phone robbery and shoplifting.
    • Scaling up our use of Live Facial Recognition (LFR) more widely supported by additional officers and staff. Currently LFR is used four times a week across two days, but this will increase up to five days a week, delivering up to 10 deployments a week across London to drive up arrests of wanted offenders.
    • The Public Order Crime Team will expand to accommodate the rise in protest-related criminal investigations to ensure frontline officers are freed up to focus on local issues. Demand in this area increased in the last two years.
    • Additional resource will be funded to support local policing teams to coordinate work to hunt down dangerous and predatory offenders identified in our V100 and Violence Harm Assessment work.

    As well as targeting resource in specific priority areas, the funding has allowed the Met to reduce some of the previously outlined cuts – including providing 17 officers to join neighbourhood policing teams to support the continued policing of Royal Parks as part of our business as usually work and stopping previously proposed reductions to Flying Squad.

    The Met is also publishing A New Met for London: Phase 2 – a plan for the next three years, following the success of the first plan to deliver more trust, less crime and high standards.

    The new plan focusses on shedding distractions and bureaucracy that divert police away from crime-fighting, allowing our officers and staff to focus on what matters most to the public we serve, making greater use of technologies such as live facial recognition and automation, and providing officers and staff with the tools and equipment they need, to be more effective and more productive.

    The Met is asking the public for their views. To share your views complete this survey: https://www.surveymonkey.com/r/6NCR3LH

    MIL Security OSI

  • MIL-OSI USA: Durbin Questions Judicial Nominees During Senate Judiciary Committee Hearing

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin

    July 30, 2025

    Durbin’s questions provided the nominees a chance to clarify their controversial positions and past remarks before the Committee

    WASHINGTON – U.S. Senate Democratic Whip Dick Durbin (D-IL), Ranking Member of the Senate Judiciary Committee, today questioned witnesses during a Senate Judiciary Committee hearing on the nominations of Joshua Dale Dunlap, nominated to be a United States Circuit Judge for the First Circuit; Eric Chunyee Tung, nominated to be a United States Circuit Judge for the Ninth Circuit; William Walter Mercer, nominated to be a United States District Judge for the District of Montana; and Stephen Chad Meredith, nominated to be a United States District Judge for the Eastern District of Kentucky.

     

    Durbin first asked Mr. Tung to clarify his commentary on gender roles and LGBTQ+ rights. Just months ago, in remarks for a Federalist Society event, Mr. Tung defended originalism and wrote, “Whether there’s a constitutional right to abortion, same-sex marriage, sodomy, pornography, transgender procedures — the answer for the originalist is simple: No.”

     

    “You seem to be questioning landmark Supreme Court decisions like Lawrence v. Texas and Obergefell [v. Hodges.] Let me ask you point blank: do you believe there’s a constitutional right formarriage for same-sex couples?” Durbin asked.

    Mr. Tung responded only that if confirmed as a circuit judge, he would “be bound” by the precedent in the Supreme Court’s ruling.

     

    “What do you believe now [in regard to gender roles?]” Durbin asked.

     

    Mr. Tung dodged the question by stating that he could not comment on “live issues” as a judicial nominee.”

     

    Durbin responded, “See that is where we run into problems. When we get down to basic values and positions, we know what he [wrote] years ago. I asked him what he believes today, and he tells me he can’t tell me the answer because he is possibly going to be on the bench. So, it’s very difficult to really understand where you stand on this situation.”

     

    Durbin then asked Mr. Dunlap about minors’ abortion rights. In March 2015, Mr. Dunlap submitted written testimony to the Maine Legislature in support of a bill that would have made it more difficult forminors and incapacitated people to access abortions. The bill he supported sought to change Maine law which does not require minors to obtain the consent of a parent or guardian before having an abortion.

     

    “Should a minor who is sexually assaulted or a victim of incest be forced to give birth if her parents do not consent to her having an abortion? Durbin asked.

    Mr. Dunlap would not directly answer but claimed that his own views would not be relevant if he is confirmed to the bench and that he would “faithfully” abide by binding precedent.

     

    “Let me ask you: are you saying what you said [in] March 2015 is the same position you hold today or a different one?” Durbin asked.

     

    Mr. Dunlap again said his personal views are not applicable if confirmed as a judge.

     

    What about Obergefell? Durbin asked.

    Mr. Dunlap responded, “that would be binding precedent should I be confirmed.”

     

    Durbin then asked Mr. Tung about his affiliation with Mike Davis, the president of the right-wing Article III Project. According to public reporting, Mr. Davis has played a key role in advising President Trump on judicial nominations during his second term.

     

    “Is he [Mike Davis] your friend?” Durbin asked.

     

    To which Mr. Tung replied that they are friends.

     

    “Have you had any conversations regarding your nomination before President Trump announced it on July 2? Durbin asked.

     

    “Just simply that it happened, Senator,” Mr. Tung responded.

     

    Durbin then asked about Mr. Davis’s overtly racist remarks. In an October 2023 social media post, Mr. Davis wrote “[t]he violent Black underclass is a danger to America” and “[t]hese monsters will kill.”

     

    “Do you condemn this offensive statement by Mr. Davis?” Durbin asked.

     

    Mr. Tung refused to fully condemn the statement and instead said only that Mr. Davis’s comments “are not necessarily my views.”

     

    Video of Durbin’s first round of questions in Committee is available here.

    Audio of Durbin’s first round of questions in Committee is available here.

    Footage of Durbin’s first round of questions in Committee is available here for TV Stations.

     

    During the second round of questions, Durbin asked Mr. Mercer about his views of January 6 defendants.

     

    “What is your reaction to the full and unconditional pardon of the January 6 defendants by President Trump?” Durbin asked.

    Mr. Mercer refused to answer the question and instead said the judiciary has no involvement with the pardon power.

    Durbin then asked Mr. Meredith about his anti-choice record. Beginning in 2017, Mr. Meredith defended Kentucky law that required doctors to present certain information to patients before performing an abortion procedure. As part of his defense of that law, he stated, “not every patient understands the consequences of an abortion procedure.”

     

    “Do you believe that female patients are less likely or less able to understand medical advice than male patients? Durbin asked.

    Mr. Meredith asked Durbin to clarify.

     

    “Well, you said not every patient understands the consequences and we know we’re talking about primarily of women of childbearing status. You went onto say there are a ‘number of patients who don’t understand the nature of the fetus [within them].’ Do you believe that female patients are less likely to understand this?” Durbin asked.

     

    Mr. Meredith claimed that he was summarizing the evidence in the record for the court.

     

    “If you want to clarify what you said in light of what I quoted, please do so. At this point, I think there really is serious question as to what you’re trying to say,” Durbin responded.

     

    Video of Durbin’s second round of questions in Committee is available here.

    Audio of Durbin’s second round of questions in Committee is available here.

    Footage of Durbin’s second round of questions in Committee is available here for TV Stations.

    -30-

    MIL OSI USA News

  • MIL-OSI USA: TOMORROW: Governor Newsom to announce major addition to state’s firefighting capabilities

    Source: US State of California Governor

    Jul 30, 2025

    SACRAMENTO COUNTY — Governor Gavin Newsom will join CAL FIRE at a press conference tomorrow to announce the latest additions to the world’s largest aerial firefighting fleet.

    WHEN: Thursday, July 31 at approximately 1 p.m.

    LIVESTREAM: Governor’s Twitter page, Governor’s Facebook page, and the Governor’s YouTube page. This event will also be available to TV stations on the LiveU Matrix under “California Governor.”

    NOTE: This in-person press event will be open to credentialed media only. Media interested in attending must RSVP by clicking here no later than 11 a.m., July 31. Location information will be provided upon RSVP confirmation.

    Media advisories, Recent news

    Recent news

    News What you need to know: In response to concerns from local elected leaders and community members about the potential for widespread SB 9 development concentrated in areas rebuilding from destructive fires and crowding evacuation routes, the Governor today issued…

    News SACRAMENTO – Governor Gavin Newsom today announced that he has signed the following bills:AB 17 by Assemblymember Juan Alanis (R-Modesto) – Elections: precinct maps.AB 377 by Assemblymember David Tangipa (R-Clovis) – High-Speed Rail Authority: business plan:…

    News What you need to know: California is standing up for all Americans by challenging Trump’s unlawful tariff policy, which is slowing the national economy and raising prices for consumers.  SACRAMENTO – Governor Gavin Newsom today filed an amicus brief in support of…

    MIL OSI USA News

  • MIL-OSI Security: Life sentence for man who followed through on rap video murder threat

    Source: United Kingdom London Metropolitan Police

    A man has been sentenced to jail for murdering a father in front of his young child in a barbershop in Leyton.

    Josh McKay, 33, was stabbed in the neck by Renai Belle in a targeted attack and died from his injuries at the scene. During the Metropolitan Police investigation, officers discovered a rap video showing Belle threaten Josh before the attack.

    Belle, 30 (20.02.95), of Swaythling Close, Edmonton was sentenced to 28 years in prison on Wednesday, 30 July at the Old Bailey. He was previously convicted for Josh’s murder and possession of a knife on Wednesday, 4 June.

    A man and woman were also convicted and sentenced for separate offences.

    Josh’s mother, Bash Kehinde said: “Today’s sentencing changes nothing for me and my family. I will never see my beautiful son. And his two children will now face life without their hero.

    “To all of the mothers of murdered children, I understand your pain, the sadness and sense of loss that is unbearable. It is made worse because it was all so senseless.

    “Josh was a beautiful happy kind man and an active and loving father. The world is less kind, less bright and less funny without him here.”

    Detective Inspector Chris Griffith, from Specialist Crime North, who led the investigation, said: “This was a savage and pre-planned attack, committed in broad daylight and with scant regard for passers-by. What took place left the local community reeling, and two young children without their father.

    “My heart goes out to Josh’s family and friends. He was a loving parent, whose life was ended in the most horrendous way.

    “I hope that today’s result provides Josh’s family with some closure, and allows the community to feel safer knowing that Belle is no longer free to commit such heinous crimes.”

    The court heard that Josh was at a barbershop on Lea Bridge Road with his son on Saturday, 6 July. Around 15:00hrs, as shown on CCTV seized by the investigation team, Belle entered the shop wearing a balaclava where he stabbed Josh in the neck in a pre-meditated attack following a long-standing dispute. Belle was then chased away by Josh.

    Members of the public rushed to Josh’s aid and attempted to provide medical treatment until the arrival of officers and paramedics. Despite their best efforts, Josh died from his injuries.

    A determined investigation began immediately in which officers painstakingly combed through more than 100 hours of CCTV footage to track Belle’s movements and understand what took place.

    Officers discovered that Belle was the passenger in a car being driven by his partner, Tenika Parker. Having seen Josh enter the barbershop, the pair drove to the address of man called Daniel Cooper. In doorbell footage later seized, Cooper was seen providing Belle with the balaclava and knife that would be used minutes later to murder Josh. Belle was then driven back to the barbers nearby before stabbing Josh. He was helped to escape by Parker in the waiting car.

    A manhunt led to the arrest of Belle at an address in Pincott Road, SW19 on Monday 8 July, 2024.

    As part of officers’ determination to further establish a watertight case against Belle, further enquiries led them to discover a rap video on YouTube showing Belle threaten Josh in advance of the attack, more proof that it was pre-planned.

    Parker was initially arrested on suspicion of assisting an offender on Sunday, 7 July in India Dock Road, Poplar. She was stopped by police while driving the car that had been identified as involved in the murder. During a search of Parker’s vehicle, officers found distinct black sliders Belle was seen wearing in CCTV footage, as well as traces of blood that officers sent for forensic testing. This provided a DNA match to Josh. Parker was rearrested on Wednesday, 2 October, and charged with perverting the course of justice after CCTV footage showed her attempting to clean her car after the attack to remove any evidence.

    Cooper was arrested after handing himself in to police on Thursday, 11 July. During a search at Cooper’s property, officers discovered two knives matching the branding of the weapon that was left at the scene of Josh’s murder. Forensic testing on the balaclava and knife discarded by Belle at the scene of Josh’s murder found DNA that matched with Cooper.

    On Wednesday, 4 June, Tenika Parker, 39 (21.02.86), of Canterbury Road, Leytonstone and Daniel Cooper, 22 (20.02.03) of Gosport Road, Leytonstone stood trial alongside Belle.

    Parker was convicted of possession of a knife and perverting the course of justice. On Wednesday, 30 July, she was sentenced at the Old Bailey to 2 years and 3 months years in prison.

    Cooper had previously pleaded guilty to possession of a knife but was acquitted of other offences. He was sentenced on Friday, 6 June for 7.5 months.

    MIL Security OSI

  • MIL-OSI Australia: Interview with James Glenday and Emma Rebellato, News Breakfast, ABC

    Source: Australian Parliamentary Secretary to the Minister for Industry

    James Glenday:

    Welcome back to the show. On this Thursday morning, you’re watching News Breakfast. It is always lovely to have your company.

    Emma Rebellato:

    We’ll get an update on the latest with the global tsunami alerts in just a moment. But first, borrowers will be hoping the latest inflation data will be the confirmation the Reserve Bank needs to cut rates next month.

    Treasurer, Jim Chalmers, joins us now from Canberra. Treasurer, thanks for joining us this morning.

    Jim Chalmers:

    Thanks for having me back on, Emma.

    Rebellato:

    So homeowners are hoping for a rate cut. Are you worried though that if there is a cut it will encourage more investors into the market, and that will price out people wanting to buy their own home?

    Chalmers:

    I’m not going to pre‑empt decisions that the Reserve Bank takes independently. I think rate relief is welcome, certainly when interest rates were cut twice already this year, that provided some very, very welcome rate relief for millions of Australians with a mortgage. That’s how we see it, but I don’t want to make predictions or pre‑empt the decisions that the Reserve Bank will take.

    What yesterday’s numbers showed when it comes to those inflation numbers is really quite remarkable progress. The progress that Australians have made together over the course of the last 3 years on inflation has been outstanding because we’ve been able to get inflation down at the same time as we deep unemployment low, we’ve got real wages growing again – but it’s never mission accomplished, because the global environment’s uncertain, we’ve got some persistent structural issues in our economy, growth in our economy is soft and people are under pressure. And that’s why the primary goal, the main priority of the first 2 weeks of the parliament sitting has been to roll out more cost‑of‑living help.

    Rebellato:

    Treasurer, your productivity roundtable is on in just a few weeks. Will you be looking – and we know housing going’s to be on the agenda – will you be looking specifically at property investors. Do you want to change the capital gains tax discount?

    Chalmers:

    That’s not why we’ve put this Economic Reform Roundtable together. It’s all about making our economy more resilient and more productive, and our budget more sustainable.

    I expect and I hope that building more homes is one of the central considerations of the Economic Reform Roundtable. I’ve been working very closely with Minister Clare O’Neil with a number of people who will be at the roundtable and with a whole range of people around the country.

    We’ve all got an interest in building more homes sooner; that’s the government’s priority. The primary focus there, I think, at the roundtable will be around how we speed up approvals and get the zoning for housing right, because we desperately need more homes. The Commonwealth government has come to the table with tens of billions of dollars in investment, our political opponents want to cut funding for housing, but overwhelmingly, people want to see where there’s common ground to build more homes, and that will be the focus.

    Rebellato:

    Treasurer, one of the stories we’re following today is the latest Productivity Commission report on closing the gap. Again, so many targets are showing so little progress, and some are worsening. How would you characterise this? Is this a failure by governments?

    Chalmers:

    We need to do much better. I think from memory, 10 of the 15 measures, we’ve seen a little bit of progress in the report released overnight, some have gone backwards in worrying ways.

    I think every member of the government, and I think many Australians would acknowledge that we need to do better, and the reason why these reports are so important is because they make sure that we keep governments and the community more broadly up to the mark. We need to do better when it comes to closing the cap.

    Minister Malarndirri McCarthy is working in her characteristically diligent way with all of the stakeholders, all of the communities to try and turn these numbers around. There has been progress in 10 of the 15, there has been some worrying outcomes in the rest, but overall, we need to do more and we need to do better.

    Rebellato:

    Treasurer, we know the issue in the Middle East is a big talking point in parliament and in the government at the moment. Is it now inevitable that Australia will recognise a Palestinian state; do you want to see that happen?

    Chalmers:

    I do, and I think it’s a matter of when, not if Australia recognises a Palestinian state for a long.

    Rebellato:

    So could we see it before September, before that UN meeting?

    Rebellato:

    I don’t want to put a timeframe for it, it’s been a long‑standing bipartisan policy that we see a two‑state solution in that part of the Middle East. From my point of view that progress that has been made, that momentum that we’re seeing in the international community is welcome, but it’s also conditional.

    There are a number of obstacles still in the way to recognition of a Palestinian state, for example, the treatment, the release of the hostages, making sure that there’s absolutely no role for Hamas. These are the sorts of things that the international community is working through.

    That statement that came out yesterday that we signed as Australians via our Foreign Minister Penny Wong is a really important one. It condemns the terrorist act on 7 October, it demands a ceasefire, the release of hostages and access for humanitarian aid; it encourages countries to work towards recognition as a really important part of that two‑state solution, and the reason we want to see a two‑state solution is because Israeli families and Palestinian families need and deserve to be able to raise their kids in peace, and that’s what this is all about.

    Rebellato:

    Treasurer, let’s stay with issues overseas, and the issue of tariffs. Now, Donald Trump has now said if he’s not negotiated with a country that they’re now looking at between a 15 and 20 per cent tariff. Is that what you’re working towards now; forget about 10 per cent, it’s now looking 15 to 20?

    Chalmers:

    We haven’t heard differently from the 10 per cent baseline that’s been levied on Australia; obviously we continue to engage with the Americans on this. It’s one of the main issues playing out in the global economy, it’s a major source of uncertainty in the economy, whether it’s what’s been said overnight about India, whether it’s the back and forth between the US and China or the tariffs levied directly on Australia. We’ve got the baseline rate as far as we are aware, and as we understand it, which is 10 per cent.

    Rebellato:

    So you don’t expect that to move?

    Chalmers:

    I think it would be a brave person to assume that there won’t be – whether it’s with other countries or – there will always be more announcements about this. These tariff announcements are a moving feast. But our understanding, our expectation is we get the baseline.

    We think that the best outcome is zero because these tariffs are an act of economic self‑harm. We see inflation is going up in the US. Earlier in the year they had slowing growth, interest rates on hold again in the US overnight, they’ve got higher interest rates than we do in Australia.

    We think these tariffs are bad for the American economy, certainly bad for the global economy. We’re better placed and better prepared than most countries to deal with that, but we won’t be immune. We’ll continue to engage with the Americans on it.

    Rebellato:

    Treasurer, just to change things up a little bit, this is possibly the hardest question you’ll be asked today, we’ve been talking about theme songs. Do you have a favourite theme song?

    Chalmers:

    It’s hard to go past the themes – the 2 theme songs in the Rocky movies, or the theme song to that great Eminem movie, 8 Mile. I’m a hip‑hop guy –

    Rebellato:

    Oh, yeah.

    Chalmers:

    – as James on the couch knows, but I think the best theme song, now that you put me on the spot, the best theme song I can remember is when Powderfinger, These Days kicks in during that wonderful Australian movie, Two Hands.

    I think These Days by Powderfinger came in at number 14 on the week in the Triple J Hottest 100 Australian songs. Like everyone who loves Powderfinger, I think that should have been higher. But that’s an amazing theme song, and that’s an incredible, Two Hands, Heath Ledger, Bryan Brown, Rose, all the great Australian actors and a wonderful Australian theme song too by Powderfinger from Brisbane.

    Rebellato:

    Treasurer, thank you so much for joining us this morning, we appreciate it.

    Chalmers:

    Thanks very much.

    MIL OSI News

  • MIL-Evening Report: Sporty spice: how romance fiction is adding a new dynamic to sports fandom

    Source: The Conversation (Au and NZ) – By Kasey Symons, Lecturer of Communication, Sports Media, Deakin University

    Sports fans might love their teams, cheer or curse each game’s result and admire their favourite athletes, but we rarely associate sports with romance.

    However, that may be slowly changing thanks to the recent spike in the popularity of romance fiction, which has created an unlikely sub-genre.

    A genre on the rise

    Romance fiction sales in Australia are up, with an average growth rate of 49% over three years.

    Dedicated romance bookstores are popping all over the world thanks to the visibility of social media communities such as “BookTok” and “Bookstagram” and the avenues digital and self-publishing are creating.

    Sports romance titles are contributing to the growing romance numbers and are helping to attract new and non-traditional fans to sport.

    Sports bringing the spice

    Sports romance fiction is not a new phenomenon. But it has gained popularity in the past few years, predominantly through ice hockey titles.

    Ice hockey romance has a growing, passionate following. Authors such as Elle Kennedy, Hannah Grace, Tessa Bailey and Emily Rath – all New York Times-bestselling writers – bring a wide-reaching visibility to the sub-genre.

    Kennedy’s Off Campus series is currently being developed as a TV series.

    Formula 1 romance fiction also has a strong following, while football (soccer) is popular too. Meryl Wilsner’s soccer-based romance Cleat Cute is also getting the TV treatment through sporting legends Megan Rapinoe and Sue Bird’s production company A Touch More.

    You name the sport and there will be a title for you: golf, chess, lacrosse, tennis, basketball, pickleball, Australian rules football, swimming, ballet, baseball and e-sports, the list goes on.

    Something for everyone

    While a majority of sports romance texts reflect heteronormative relationships and depict some of the more stereotypical, idealised body types and aesthetics often associated with the romance genre and athletic bodies, there are also diverse titles. These explore relationships across genders, sexualities, ethnicities, body shapes and different sports.

    The ability to self-publish and reach an audience through social media allows sports romance authors and the creator community to be responsive and representative.

    Authors are motivated to create narratives that reflect their own experiences and identity or contribute perspectives they feel are missing in the sporting landscape.

    Happily ever after?

    What makes these diverse contributions significant is how the authors present their sporting narratives within the romance genre storytelling structure. This means the majority of texts conform to what romance readers call, the “HEA”: the happily ever after.

    While some narratives will have drama, tension and tragedy, the “happily ever after” framework allows for stories and relationships to end on a happy note.

    In sports romance, there are many authors using this approach to challenge social norms, restrictive sporting environments and advocate for inclusion by presenting narratives where these tensions are resolved and everything works out.

    Examples include K.T. Hoffman’s The Prospects, which features a trans man as the protagonist who makes it onto a Major League Baseball team and finds true love. Esha Patel’s Offtrack presents a Middle Eastern woman as the first woman driver for a Formula 1 team this century — who also finds true love. Australian author Abra Pressler’s Love and Other Scores shares the coming out journey of a professional male tennis player while competing at the Australian Open — after he finds true love. You get it.

    The romance genre allows these fictional stories to play out with the authors placing love and care for diverse communities at their centre, showing us a world where the inclusion for these diverse lived experiences are possible in sport.

    Risks and rewards

    There are opportunities for sports organisations to think more creatively about connecting with fans who may be interested in different elements of sporting culture and fandom.

    That could be through sports romance, new forms of narrative storytelling such as docuseries like Netflix’s Drive to Survive, or intersections with pop culture such as Taylor Swift’s recent impact on NFL fandom.

    What is important is understanding the community and serving that community rather than trying to retrofit diverse fans into preexisting fan engagement strategies.

    Sports should understand fans are not a homogeneous group, and not all diverse fans will respond to and connect with this content.

    There are also risks for sports that try to shoehorn non-traditional fans into their space without fully understanding the community, such as when the National Hockey League’s Seattle Kraken targeted the sports romance audience in 2023. The initiative went horribly wrong when the organisation misguidedly promoted social media engagement which led to some users crossing the line and allegedly harassing players.

    But there are rewards when it is done right. Australian Ice Hockey League discovered this after developing a genuine connection with author Emily Rath and facilitating welcoming and safe spaces for romance readers at games. The result? A surge in attendances and fan connection.

    The sports romance genre is a space for sport to pay attention to, and with the second annual Sports Romance Convention taking place in Minneapolis next year, its community will continue to grow.

    Kasey Symons has received funding from the Victorian Government, and national and state sport governing bodies, including the Australian Football League and the National Rugby League. She is also one of the co-founders of Siren: A Women in Sport Collective.

    ref. Sporty spice: how romance fiction is adding a new dynamic to sports fandom – https://theconversation.com/sporty-spice-how-romance-fiction-is-adding-a-new-dynamic-to-sports-fandom-261569

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Security: Band Members from Partner Nations Participating in Pacific Partnership 2025 Perform at the University of Technology in Lae, Papua New Guinea July 2025 [Image 4 of 8]

    Source: United States Navy (Logistics Group Western Pacific)

    Issued by: on


    LAE, Papua New Guinea (July 30, 2025) Pacific Partnership 2025 (PP-25) multination musicians perform at the Papua New Guinea University of Technology during PP-25 in Lae, Papua New Guinea, July 30, 2025. Now in its 21st iteration, the Pacific Partnership series is the largest annual multinational humanitarian assistance and disaster management preparedness mission conducted in the Indo-Pacific. Pacific Partnership works collaboratively with host and partner nations to enhance regional interoperability and disaster response capabilities, increase security and stability in the region, and foster new and enduring friendships in the Indo-Pacific. (U.S. Navy photo by Mass Communications Specialist Seaman Mario E. Reyes Villatoro)

    Date Taken: 07.30.2025
    Date Posted: 07.30.2025 20:36
    Photo ID: 9228707
    VIRIN: 250730-N-OJ012-1695
    Resolution: 4568×3045
    Size: 1.72 MB
    Location: LAE, PG

    Web Views: 1
    Downloads: 0

    PUBLIC DOMAIN  

    MIL Security OSI

  • MIL-OSI Security: Band Members from Partner Nations Participating in Pacific Partnership 2025 Perform at the University of Technology in Lae, Papua New Guinea July 2025 [Image 4 of 8]

    Source: United States Navy (Logistics Group Western Pacific)

    Issued by: on


    LAE, Papua New Guinea (July 30, 2025) Pacific Partnership 2025 (PP-25) multination musicians perform at the Papua New Guinea University of Technology during PP-25 in Lae, Papua New Guinea, July 30, 2025. Now in its 21st iteration, the Pacific Partnership series is the largest annual multinational humanitarian assistance and disaster management preparedness mission conducted in the Indo-Pacific. Pacific Partnership works collaboratively with host and partner nations to enhance regional interoperability and disaster response capabilities, increase security and stability in the region, and foster new and enduring friendships in the Indo-Pacific. (U.S. Navy photo by Mass Communications Specialist Seaman Mario E. Reyes Villatoro)

    Date Taken: 07.30.2025
    Date Posted: 07.30.2025 20:36
    Photo ID: 9228707
    VIRIN: 250730-N-OJ012-1695
    Resolution: 4568×3045
    Size: 1.72 MB
    Location: LAE, PG

    Web Views: 1
    Downloads: 0

    PUBLIC DOMAIN  

    MIL Security OSI

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

    Source: Samsung

    Samsung Electronics today reported financial results for the second quarter ended June 30, 2025.
     
    The Company posted KRW 74.6 trillion in consolidated revenue, a decrease of 5.8% compared to the previous quarter. Operating profit decreased to KRW 4.7 trillion.
     
    The Device Solutions (DS) Division reported an increase in revenue on the back of expanded sales of high density, high-performance memory products, but inventory value adjustments in memory and one-off costs related to the impacts of export restrictions related to China in non-memory had an adverse effect on profit. In the Device eXperience (DX) Division, operating profit declined quarter-on-quarter due to a sequential decline in sales volume following the launch of new smartphone models in the first quarter.
     
    Looking ahead to H2, the DS Division plans to proactively meet the growing demand for high-value-added and AI-driven products and continue to strengthen competitiveness in advanced semiconductors. The DX Division will seek to minimize the impact of uncertainties stemming from tariff policies that are likely to persist.
     
     
    Semiconductors Expected To Proactively Meet Continued AI Demand
    The DS Division posted KRW 27.9 trillion in consolidated revenue and KRW 0.4 trillion in operating profit for the second quarter.
     
    In Q2 2025, the Memory Business proactively addressed robust server demand by expanding HBM3E sales and by expanding the proportion of high-density DDR5 products. Also, with the resumption of datacenter projects that were previously delayed, sales of server SSDs increased, helping NAND inventory to decrease significantly. However, earnings were impacted by one-off costs such as inventory value adjustments.
     
    In H2 2025, AI demand is expected to remain robust due to continued investments by major cloud service providers, and therefore server demand for both DRAM and NAND is expected to stay strong.
     
    To align with solid AI-server demand for DRAM, the Memory Business will proactively address the need for high-density products and diversify product offerings through HBM, server LPDDR5x, high-density DDR5, 24Gb GDDR7 and other products. For NAND, the Memory Business plans to increase sales of high-density and high-performance SSDs while accelerating the transition to 8th Generation V-NAND across all applications.
     
    The System LSI Business generated solid revenue from shipments of flagship systems-on-a-chip (SoCs) using the Gate-All-Around (GAA) process, but earnings improvement was limited due to higher costs of developing advanced products.
     
    In H2 2025, the System LSI Business will focus on improving Exynos competitiveness to ensure its adoption in 2026 flagship mobile lineups of a major customer and expanding the sales of ultra-high-resolution and nano-prism sensors.
     
    Despite significant growth in revenue from the first quarter, earnings for the Foundry Business remained weak due to the impact of inventory value adjustments that stemmed from US export restrictions on advanced AI chips to China, as well as a continued low utilization rates at mature nodes.
     
    In H2 2025, the Foundry Business will ramp up mass production of a new mobile SoC with the 2nm GAA process. It also aims to improve factory utilization and profitability through expanded sales to major customers.
     
     
    SDC To Further Accelerate Leadership By Differentiating and Enhancing Display Technologies
    Samsung Display Corporation (SDC) posted KRW 6.4 trillion in consolidated revenue and KRW 0.5 trillion in operating profit for the second quarter.
     
    For the mobile display business, SDC saw a revenue increase based on the response to new smartphones of major customers as well as the expansion of sales in the IT and automotive segments. The large display business experienced continued growth in sales of QD-OLED monitor displays, driven by robust demand in the gaming market.
     
    In H2 2025, the mobile display business expects sales growth from major customers’ new smartphone launches amid ongoing market uncertainties. It also aims to strengthen market leadership with differentiated technologies and the continued expansion of sales beyond smartphone displays. The large display business will seek to maintain a stable supply of TV panels while continuing to accelerate the penetration of QD-OLED monitors by enhancing the product lineup.
     
     
    MX Grows Revenue and Operating Profit YoY, Will Focus on Flagship Sales and AI Capabilities
    The Mobile eXperience (MX) and Networks businesses posted KRW 29.2 trillion in consolidated revenue and KRW 3.1 trillion in operating profit for the second quarter.
     
    In Q2 2025, the MX Business experienced a decrease in smartphone shipments compared to Q1, when new models were released, but both revenue and operating profit grew YoY through robust sales of the Galaxy S25 series, Galaxy A series and Galaxy tablets. The Business also maintained solid double-digit profitability via efficient resource management.
     
    In H2 2025, the MX Business plans to continue a flagship-first approach for smartphone sales focusing on foldables and the Galaxy S25 series — while emphasizing the AI functionality of the Galaxy A series — to increase market share. It will also reinforce the AI capabilities of tablets and wearables and expand the Galaxy ecosystem with the launch of products with new form-factors, including extended reality (XR) and TriFold devices, and contribute to maintaining solid profitability despite market uncertainties and rising bill of materials (BOM) costs.
     
    The Networks Business improved profitability in Q2 2025 by expanding revenue in overseas markets and enhancing cost efficiencies, and in H2 2025, it will focus on achieving revenue targets and regaining competitiveness by securing new orders with optimized costs.
     
     
    Visual Display Enhances Sales Mix, Targets the Capture of Peak-Season Demand in H2
    The Visual Display and Digital Appliances businesses posted KRW 14.1 trillion in consolidated revenue and KRW 0.2 trillion in operating profit in the second quarter.
     
    In Q2 2025, the Visual Display Business improved the sales of premium products, such as Neo QLED and OLED TVs, but earnings declined due to stagnant demand and intensified competition.
     
    In H2 2025, the Business plans to reinforce revenue growth by capturing peak-season demand, based on a strengthened lineup of high-value-added TVs offering superior viewing experiences with enhanced AI features. In addition, the Business will drive solid profitability and growth through its differentiated experiences and services including SmartThings, Samsung Knox, Samsung Art Store and Samsung TV Plus.

    MIL OSI Global Banks

  • MIL-OSI United Kingdom: OZZY fans say final farewell as thousands line streets to witness cortege

    Source: City of Birmingham

    Birmingham City welcomed thousands of Ozzy Osbourne fans who flocked to watch an emotional cortege wind through the city in honour of the rock legend who died last Tuesday (July 22).

    Ozzy Osbourne’s family including wife Sharon followed a hearse and brass band along the route in memory of the Aston-born star.

    The public show of respect in his hometown has been arranged and funded by the Osbourne family and has been supported by partners, including Birmingham City Council.

    Ozzy and fellow Black Sabbath band members received Freedom of the City for their significant contribution to the musical and cultural identify of Birmingham, during a civic ceremony held at Council House on Saturday, June 28. He was therefore one of the city’s most recent Freeman.

    It was just weeks before Ozzy’s last charity gig on July 5 at Villa Park, a stone’s throw away from where Black Sabbath was originally formed.

    Today, thousands of fans lined the streets to watch as the musician’s hearse passed slowly through the city, along Broad Street, Black Sabbath Bridge, and the Black Sabbath bench, to the beat of a brass band.

    The Osbourne family were able to witness the flowers and tributes along the route laid by fans from all over the world ever since the news was announced last week.

    A book of condolence has been opened for people to sign at Birmingham City Museum and Art Gallery’s (BMAG) Round Room and which now contains thousands of signatures. The book will close on Sunday, August 3. Fans can also freely visit the exhibition ‘Ozzy Osbourne (1948 – 2025) Working Class Hero’.

    An online book of Condolence is also available for fans to send messages and can be accessed and signed here Book of condolence and will close on Friday, August 1.

    Birmingham City Council and BMAG will work behind the scenes to ensure that all messages are collected for the family to read, including cards and messages laid with flowers and other memorabilia.

    Birmingham’s Lord Mayor, Councillor Zafar Iqbal, said: “Once again, Ozzy has put Birmingham firmly on the map. His sad passing has evoked a sense of pain and pride in the city and the world has watched as we have said our final farewell.

    “We have been supporting the family with behind-the-scenes operations, such as ensuring the city is safe and secure for the fans who have made their way here for this sad occasion.

    “It was only right to honour Ozzy as our latest Freeman to the city and my thanks go to the staff at Birmingham City Council who have made this event possible with our partners in such a very short space of time.”

    Deputy Leader, Councillor Sharon Thompson, added: “Never before have I witnessed such passion from the people of Birmingham for a musician. They have lost their ‘Prince of Darkness’.

    “We all know that Ozzy was an exceptional human being who was driven to entertain and ensure his city of Birmingham was never forgotten, along with his passion for charitable causes. ‘Birmingham Forever’ as he would say.”

    The Osbourne family plan to hold a private funeral for the star.

    Birmingham City Council would like to thank all of its partners for their hard work in bringing together a team to ensure the event ran smoothly.

    Thanks in particular to: Opus Events, Brindley Place business community, West Midlands Police, West Midlands Fire and Rescue Service, West Side Business Improvement District, West Midlands Combined Authority, the Ambulance Service.

    MIL OSI United Kingdom

  • MIL-OSI Australia: UPDATE #2: Concern for welfare – Alice Springs Region

    Source: Northern Territory Police and Fire Services

    The Northern Territory Police Force continues to hold serious concerns for the welfare of 26-year-old Gach, who has not been seen or heard from since 5:30pm on Monday 28 July 2025.

    Gach is described as a 6-foot-tall male of Sudanese appearance with a lean build, short curly hair, and was last seen wearing a red or orange puffer jacket, cream-coloured tracksuit pants, and dark-coloured runners.

    The NT Police Search and Rescue Section (SRS) is leading an intensive search operation, now into its third day, approximately 21 km west of Alice Springs. The operation is being supported by over 50 personnel, including members from local police units and partner agencies such as NT Emergency Services, NT Fire and Rescue Service, and Parks and Wildlife NT.

    The coordinated search effort includes foot teams, all-terrain vehicles (ATVs), drones, and helicopter support, with more than 500 km² of challenging terrain already covered.

    Search Coordinator Acting Sergeant Chris Grotherr said, “Search efforts have been extensive, with significant contributions from local resources. These efforts will continue into day 3. However, forecasted sub-zero overnight temperatures over the coming days are increasing our concerns for Gach’s welfare.”

    Police are appealing to the public for any information that may assist search efforts.

    Anyone who may have seen Gach in the vicinity of Larapinta Drive, Standley Chasm, or Simpsons Gap on the evening of Monday 28 July, or who has any knowledge of his current whereabouts, is urged to contact police on 131 444.

    MIL OSI News

  • MIL-OSI: ChainIntellect Launches HAIN Token Presale at Just $0.000000001 Per Token

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, July 30, 2025 (GLOBE NEWSWIRE) — ChainIntellect, a forward-thinking AI-powered blockchain ecosystem, has officially launched the public presale of its native token HAIN at the introductory price of $0.000000001. This marks a major milestone in the project’s roadmap as it moves toward building a decentralized, intelligent Web3 infrastructure.

    With a bold vision to redefine the intersection of artificial intelligence and blockchain technology, ChainIntellect’s HAIN token is engineered to power a suite of advanced AI tools, autonomous data systems, and decentralized applications built on Ethereum.

    Tokenomics That Inspire Early Adoption

    At the current presale price of $0.000000001, early adopters have an unprecedented opportunity to acquire HAIN at a valuation designed for maximum growth potential. According to the team, the presale is structured in multiple stages, with the next price jump to $0.0000001, followed by a planned public listing at $0.001.

    “We’re offering HAIN at its lowest price to reward our earliest believers,” said Val Andrew, CEO at ChainIntellect. “This presale stage is a rare opportunity to get in at the ground level of a token designed to power the future of AI in Web3.”

    About HAIN and ChainIntellect

    ChainIntellect is developing a decentralized ecosystem where AI agents and smart contracts work seamlessly to enable intelligent decision-making, data processing, and autonomous applications. The HAIN token is the utility and governance token for the ecosystem, allowing holders to:

    • Access AI-powered tools and data services
    • Participate in decentralized governance
    • Stake tokens for yield and AI resource rewards
    • Pay for computation within ChainIntellect’s smart agent networks

    Transparent & Secure Presale Structure

    The HAIN presale accepts ETH, USDT, USDC, providing flexibility for a wide range of crypto investors. All funds are securely processed through audited smart contracts with full Web3 wallet support.

    Contract Address (Ethereum): 0xA6BF4a22E19ED9241d74eB3c77A8451f0fA2cfff
    Official Payment Receiver: 0x212ba4E6B103e20B052c2d528A2aec66dD8d27b4

    There is no set end date, and tokens will remain on sale until sold out. Admins retain the ability to pause or update presale parameters for security and demand responsiveness.

    Join the Movement

    Crypto enthusiasts, early adopters, and AI believers are invited to participate now before the next pricing tier is reached. With strong community backing, technological innovation, and a clear roadmap, HAIN aims to become a leading AI-integrated crypto asset in the Web3 revolution.

    For more information or to participate in the presale, visit:
    https://chainintellectcoin.com
    Twitter: https://x.com/HAINCoin
    Telegram: https://t.me/haintoken

    Media Contact:
    Val Andrew, CEO
    support@chainintellectcoin.com

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

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3dc3003f-6dfc-4605-b210-c1197c14ffe1

    The MIL Network

  • MIL-OSI: ChainIntellect Launches HAIN Token Presale at Just $0.000000001 Per Token

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, July 30, 2025 (GLOBE NEWSWIRE) — ChainIntellect, a forward-thinking AI-powered blockchain ecosystem, has officially launched the public presale of its native token HAIN at the introductory price of $0.000000001. This marks a major milestone in the project’s roadmap as it moves toward building a decentralized, intelligent Web3 infrastructure.

    With a bold vision to redefine the intersection of artificial intelligence and blockchain technology, ChainIntellect’s HAIN token is engineered to power a suite of advanced AI tools, autonomous data systems, and decentralized applications built on Ethereum.

    Tokenomics That Inspire Early Adoption

    At the current presale price of $0.000000001, early adopters have an unprecedented opportunity to acquire HAIN at a valuation designed for maximum growth potential. According to the team, the presale is structured in multiple stages, with the next price jump to $0.0000001, followed by a planned public listing at $0.001.

    “We’re offering HAIN at its lowest price to reward our earliest believers,” said Val Andrew, CEO at ChainIntellect. “This presale stage is a rare opportunity to get in at the ground level of a token designed to power the future of AI in Web3.”

    About HAIN and ChainIntellect

    ChainIntellect is developing a decentralized ecosystem where AI agents and smart contracts work seamlessly to enable intelligent decision-making, data processing, and autonomous applications. The HAIN token is the utility and governance token for the ecosystem, allowing holders to:

    • Access AI-powered tools and data services
    • Participate in decentralized governance
    • Stake tokens for yield and AI resource rewards
    • Pay for computation within ChainIntellect’s smart agent networks

    Transparent & Secure Presale Structure

    The HAIN presale accepts ETH, USDT, USDC, providing flexibility for a wide range of crypto investors. All funds are securely processed through audited smart contracts with full Web3 wallet support.

    Contract Address (Ethereum): 0xA6BF4a22E19ED9241d74eB3c77A8451f0fA2cfff
    Official Payment Receiver: 0x212ba4E6B103e20B052c2d528A2aec66dD8d27b4

    There is no set end date, and tokens will remain on sale until sold out. Admins retain the ability to pause or update presale parameters for security and demand responsiveness.

    Join the Movement

    Crypto enthusiasts, early adopters, and AI believers are invited to participate now before the next pricing tier is reached. With strong community backing, technological innovation, and a clear roadmap, HAIN aims to become a leading AI-integrated crypto asset in the Web3 revolution.

    For more information or to participate in the presale, visit:
    https://chainintellectcoin.com
    Twitter: https://x.com/HAINCoin
    Telegram: https://t.me/haintoken

    Media Contact:
    Val Andrew, CEO
    support@chainintellectcoin.com

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

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3dc3003f-6dfc-4605-b210-c1197c14ffe1

    The MIL Network