Source: People’s Republic of China – State Council News
Bayern Munich has confirmed the signing of German international Jonathan Tah from Bayer Leverkusen, as announced by the Bavarians on Thursday.
The 29-year-old center-back has signed a contract with the Bundesliga champions until 2029, bringing an end to long-standing transfer speculation.
Jonathan Tah (front R) of Bayer 04 Leverkusen vies with Ihlas Bebou of TSG Hoffenheim during the first division of Bundesliga match in Leverkusen, Germany, March 30, 2024. (Photo by Joachim Bywaletz/Xinhua)
Tah will bring experience and leadership to Bayern, after having played a crucial role in Leverkusen’s double-winning 2023-24 campaign, where he played 31 league matches, scored four goals and was a regular captain under Xabi Alonso. In total, Tah made 402 appearances for Leverkusen across all competitions after joining the club from Hamburger SV in 2015.
“This is a new chapter and a great opportunity,” Tah said after completing his medical in Munich. “I’m here to take on responsibility, grow as a player and win trophies with this team. That’s what drives me.”
Bayern had previously expressed interest in Tah, and board member Max Eberl made no secret of the club’s long-standing admiration. “Jonathan Tah has been on our radar for a long time. He’s a leader and a consistent performer. He had several offers, so we’re delighted he chose Bayern,” said Eberl.
Bayern’s CEO Jan-Christian Dreesen echoed this sentiment, praising Tah’s profile: “As an experienced international and proven leader, Jonathan will add stability and class to our defense. He knows what it takes to win.”
Sporting director Christoph Freund highlighted Tah’s readiness to make an immediate impact. “He won’t need much time to adapt. His composure, ball-playing ability and mentality make him a perfect fit for our back line.”
Tah will wear the No. 4 shirt at the Allianz Arena. Although Bayern stated that the transfer was completed without a fee, discussions regarding a possible early release from Leverkusen before his contract officially expires on June 30 are ongoing, with a reported compensation fee of two million euros being discussed.
Earlier this week, a US court blocked the so-called “Liberation Day” tariffs that US President Donald Trump imposed on imported goods from around 90 nations.
On Wednesday (US time), the Court of International Trade ruled the emergency authority Trump used to impose the tariffs could not override the role of Congress, which has the right to regulate commerce with other countries.
The following day, however, the US Court of Appeals for the Federal Circuit in Washington paused the trade court’s ruling, temporarily reinstating Trump’s tariffs. The earlier court ruling, and the fresh uncertainty prompted by the appeal have left the implementation of Trump’s trade policy in disarray.
Even though it has been paused, the trade court’s ruling calls into question trade negotiations underway with more than 18 different nations, which are trying to lower these tariffs. Do these countries continue to negotiate or do they wait for the judicial process to play out?
The Trump administration still has other mechanisms through which it can impose tariffs, but these have limits on the amount that can be imposed, or entail processes which can take months or years. This undermines Trump’s preferred method of negotiation: throwing out large threats and backing down once a concession is reached.
The lawsuits argued the national emergencies cited in imposing the tariffs – the trade deficit and the fentanyl crisis – were not an emergency and not directly addressed by the tariff remedy. The court agreed, and said by imposing tariffs Trump had overstepped his authority.
The ruling said the executive orders used were “declared to be invalid as contrary to law”.
The act states the president is entitled to take economic action in the face of “an unusual and extraordinary threat”. It’s mainly been used to impose sanctions on terrorist groups or freeze assets from Russia. There’s nothing in the act that refers to tariffs.
The decision means all the reciprocal tariffs – including the 10% tariffs on most countries, the 50% tariffs Trump was talking about putting on the EU, and some of the Chinese tariffs – are ruled by the court to be illegal.
The ruling was based on two separate lawsuits. One was brought by a group of small businesses that argued tariffs materially hurt their business. The other was brought by 12 individual states, arguing the tariffs would materially impact their ability to provide public goods.
Some industry tariffs will remain in place
The ruling does not apply to tariffs applied under Section 201, known as safeguard tariffs. They are intended to protect industries from imports allegedly being sold in the US market at unfair prices or through unfair means. Tariffs on solar panels and washing machines were brought under this regulation.
Also excluded are Section 232 tariffs, which are applied for national security reasons. Those are the steel and aluminium tariffs, the automobile and auto parts tariffs. Trump has declared all those as national security issues, so those tariffs will remain.
Most of the tariffs against China are also excluded under Section 301. Those are put in place for unfair trade practices, such as intellectual property theft or forced technology transfer. They are meant to pressure countries to change their policies.
Other trade investigations are still underway
In addition, there are current investigations related to copper and the pharmaceuticals sector, which will continue. These investigations are part of a more traditional trade process and may lead to future tariffs, including on Australia.
The Trump administration is still weighing possible sector-specific tariffs on pharmaceuticals. Planar/Shutterstock
Now for the appeals
Following the subsequent reinstatement of tariffs, we now have to wait for the appeals process to play out. This may take some time. The plaintiffs have until June 5 to respond, and the Trump administration has until June 9.
In the meantime, there are at least five other legal challenges to tariffs pending in the courts.
If the appeals court provides a ruling the Trump administration or opponents don’t like, they can appeal to the Supreme Court.
Alternatively, the White House could direct customs officials to ignore the court and continue to collect tariffs.
The Trump administration has ignored court orders in the past, particularly on immigration rulings.
The administration is unlikely to lie down on this. In addition to its appeal process, officials complained about “unelected judges” and “judicial overreach” and may contest the whole process. The only thing that continues to be a certainty is that uncertainty will drive global markets for the foreseeable future.
Susan Stone 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.
Historic Garden of England protected with new sparkling National Nature Reserve
Eighth Kings Series National Nature Reserve to be announced
Credit: Michael Charlton
The North Kent Woods and Downs National Nature Reserve is home to around 1700 ancient and veteran trees, as well as a mosaic of natural habitats including wildflower meadows, rare arable plants and chalk grasslands.
Around 400,000 people live within 5 miles of the new reserve, and will have new opportunities to connect with this unique landscape.
First National Nature Reserve to include an organic and carbon-negative vineyard, bringing a boost for both nature recovery and the local economy.
Kent has reaffirmed its reputation as the ‘Garden of England’ with the announcement of a new National Nature Reserve (30 May) boasting flagship species including, Man and Lady orchids, the Maidstone mining bee, Hazel dormouse and skylarks.
The county is said to have been given its famous nickname by Henry VIII to acknowledge its beautiful green landscape and abundant supply of food and drink. While much has changed over the centuries, modern day visitors to the newly opened reserve will find that it is still worthy of this title. The site offers access to a rich mix of wildflower meadows, chalk grasslands and ancient woodlands which have maintained tree cover since the Tudor era.
Many people have enjoyed the picturesque North Kent countryside, including Charles Dickens, who praised the fresh greenery and bustling wildlife of Kent, and frequently returned to the area in his writings, drawing inspiration from this idyllic landscape. The natural beauty of the area has now been put back in the spotlight with this declaration.
Over 400,000 people live within five miles of the new North Kent Woods and Downs National Nature Reserve and 8 million people live just an hour’s drive away, making this opening an exciting opportunity for people to connect with internationally important nature.
The new National Nature Reserve covers 800 hectares, equivalent to over 1100 football pitches, and partners will be working to support conservation efforts beyond the boundary of the reserve, helping to create a joined-up approach to nature recovery for a further 1100 hectares in the surrounding area.
Tony Juniper, Chair of Natural England said:
Creating bigger, better and more joined up natural areas is one of the most vital and fundamental steps we must take in meeting our national targets for Nature’s recovery. This new reserve, with its hundreds of ancient trees set amid extensive chalk grasslands, lays the foundations for multiple partners to work together to improve Nature across a significant area of countryside. This reserve presents one further excellent example of the progress that can be made when people decide to work together across landscapes.
Millions of people visit our National Nature Reserves and having a new one accessible to so many people and with such fantastic Nature is truly a cause for celebration.
Nature Minister Mary Creagh said:
This new National Nature reserve will give people the opportunity to explore Kent’s magical landscapes from wildflower meadows to ancient woodlands.
Reserves like this one, and others in the King’s Coronation Series, will deliver on our promise to improve access to nature and protect nature-rich habitats, as well as boosting the local economy in line with our Plan for Change.
Alongside long-term management for the precious habitats found at the site, the declaration of the newest National Nature Reserve in the King’s Series also offers the prime example of how conservation and economic growth can go hand in hand.
The site is home to the Silverhand Estate, the largest single organic and carbon-negative vineyard in the UK. For organisations like Silverhand, a healthy natural environment is essential to business, which serves as a reminder that nature underpins all parts of our economy.
The creation of the reserve will offer a boost to tourism in the Garden of England, as National Nature Reserve status highlights the internationally important nature found in the area. More than 20 million people visit National Nature Reserves each year, helping to put the natural beauty and ecological importance of our landscapes in the spotlight and boost the visitor economy of the areas around them.
This new National Nature Reserve directly supports the government’s commitment to restore and protect our natural world by expanding nature-rich habitats where people can explore and wildlife can thrive.
This is the 8th reserve to be launched as part of the King’s Series of National Nature Reserves, which will leave a lasting public legacy for people and nature by creating or extending 25 National Nature Reserves by 2027.
With support from Natural England and Kent Downs National Landscape, the Reserve will be managed by a number of partners including the National Trust, Woodland Trust, Kent County Council, Plantlife, Silverhand Estate (Vineyard Farms Ltd), and the West Kent Downs Countryside Trust. Affiliated partners include Gravesham Borough Council, Birling Estate, Shorne Parish Council, Tarmac and Forestry England.
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QUOTES PACK
Nick Johannsen, National Landscape Director, Kent Downs National Landscape:
The North Kent Woods and Downs National Nature Reserve is especially exciting because of the sheer scale, nearly 20 square kilometres of land managed for nature, people, its beauty and history and for scientific research and so close to the urban centres of Gravesend and the Medway Towns.
Many partners from the public, private, community and charity sectors are working together here, on some of the very best sites for wildlife in England. Together we have committed to work for nature recovery and connect our land. Our partnership has worked for over 2 years to develop a vision for the NNR and carry out detailed research and development. This crucial stage has been supported by the National Highways Designated Funds. Our friends in Natural England guided the proposal through the legal processes and we’ve done it!
A fantastic new National Nature Reserve in the Kent Downs National Landscape. This launch celebrates all of the work done so far, and will provide added momentum to make more positive change on the ground, securing more flourishing nature and engaging with more and more diverse communities.
Ben Sweeney, Ranscombe Farm Reserve Manager, Plantlife:
It is truly exciting that Ranscombe Farm, Plantlife’s flagship nature reserve, is now part of such a concerted effort to bring together conservation, community and sustainable land use at the landscape scale. Ranscombe Farm, a wonderful patchwork of arable fields, ancient woodland and chalk grasslands, is a globally significant place for wild plants and other wildlife.
Not only is Ranscombe the last wild UK site for Corncockle, it also harbours the largest population of the endangered Broad-leaved cudweed and a wide variety of rare wild orchids. But it is much more than just a treasure trove of rare and threatened plants; visitors are welcome to enjoy 10 miles of footpaths through the mosaic of habitats covering over 600 acres and marvel at the stunning displays of poppies in June and July.
Gary Smith, CEO, Silverhand Estate:
We are delighted to be a part of and working alongside the NNR. Sustainability, regenerative farming and protection of the landscape is at the heart of everything we do on our Estate. The work our conservation team does has had an enormously positive impact on the local landscape and we are excited to be able to share this with the community going forward.
Cllr Emma Morley, Gravesham Borough Council’s cabinet member for operational services:
We are blessed to have such beautiful and historically significant landscapes within our borough, which are rightly being recognised through the creation of this NNR. Nature does not recognise human boundaries, and so we look forward to working with the various partners and colleagues to protect and nurture this extensive, beautiful and fascinatingly varied reserve, allowing generations to come to enjoy its beauty.
Jenny Scholfield, Regional Director at the Woodland Trust:
We are delighted that Ashenbank Wood, a SSSI site with ancient woodland, veteran trees and home to rare and declining species including the hazel dormouse, is part of the new National Nature Reserve in North Kent.
For over 40 years Woodland Trust has been caring for and managing this site for trees, wildlife and people and we are pleased that Ashenbank is recognised and protected as an important part of the Kent landscape as part of this initiative. We are looking forward to further collaboration with the NNR partners to strengthen our efforts for nature recovery across this unique landscape.
Jonathan Ireland, Lead Ranger at National Trust, Cobham Woods:
Cobham Wood’s inclusion in the North Kent Woods and Downs National Nature Reserve is a significant step in safeguarding one of Kent’s most precious landscapes. This ancient woodland, home to centuries-old veteran trees and a rich diversity of wildlife, provides a vital habitat for rare species, from saproxylic invertebrates to nesting birds.
Through this pioneering partnership and shared learnings, we can ensure the continued restoration of its historic wood pasture, allowing nature to flourish while welcoming visitors to experience its beauty firsthand. By working together across a landscape scale, we are creating a connected and resilient environment where biodiversity can thrive, ensuring Cobham Wood is protected for future generations to explore and enjoy.
Simon Jones, Corporate Director, Growth, Environment and Transport for Kent County Council, said:
At the heart of the National Nature Reserve is a partnership working together as one area, sharing work, knowledge and planning for the whole ecosystem to be connected as opposed to working in individual areas. Shorne Woods and Trosley Country Parks are part of the NNR and are home to flagship species such as orchids, arable plants, dormice, great crested newts and spectacular veteran trees, each playing a vital role in the ecosystem.
The ambition for the NNR partnership is to make a positive change at landscape scale and enhance the vitality of these communities, giving them greater access and awareness of first-class green spaces on their doorstep. Some of Kent’s more deprived areas fall within five miles of the NNR. The social ambitions of the partners include linking the landscape and its urban residents and inviting them to discover what is on their doorstep.
East London charity given Official Warning over loss of £1 million
The Charity Commission has taken regulatory action against East London Mosque Trust for failing to responsibly manage charity funds.
The Commission has issued an Official Warning to East London Mosque Trust over an investment deal which resulted in the loss of £1 million. The regulator found trustees failed to have sufficient oversight of the charity’s activities and it has given the charity six months to take remedial action or possibly face further regulatory scrutiny.
The charity has existed in some form since 1910, and the mosque is considered one of London’s oldest. East London Mosque Trust was established to advance the Islamic faith by maintaining and managing a community centre and mosque, and provides a range of spiritual and community services.
The charity had invested £1 million in an NHS-approved supplier, expecting a 20% return in 6 months, but the supplier was forced into administration, resulting in a loss for the charity. The charity’s trustees reported the matter to the Commission in February 2023, which the regulator reviewed as part of wider engagement with the charity.
The Commission found the charity’s due diligence regarding the investment deal was not thorough enough. The regulator is also critical of the trustees’ lack of effective oversight and failure to properly scrutinise key documents concerning the investment. The regulator would expect any charity to conduct substantial checks on any investment which uses charitable funds, particularly one of this size.
The Commission had previously told the charity to ensure it had sufficient control over its funds and had warned of potential for further action. The trustees’ failure to act with reasonable care and skill, which contributed to the loss of the charity’s funds, is misconduct and/or mismanagement.
The Official Warning sets out that the charity is to ensure financial controls are put in place and that there is oversight of the charity’s funds to protect the charity’s assets going forward. The charity is now expected to conduct an independent review of the charity’s governance, reporting findings to the Commission. The regulator also expects the charity to do all it reasonably can to recover the lost funds.
Charity Commission Head of Compliance Visits and Inspections, Joshua Farbridge, said:
When people donate to a charity, they put their faith in those running it to manage those funds with care and in line with its aims. In this case, we found the trustees lacked the oversight we’d expect of such a large investment, nor did they ensure thorough due diligence had been undertaken.
The East London Mosque Trust has been advised on more than one occasion about having appropriate oversight of funds and so we have now issued a formal warning. We expect all charities to promptly act on steps provided in an Official Warning and will be monitoring this charity’s progress.
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Notes to editors:
The Charity Commission is the independent, non-ministerial government department that registers and regulates charities in England and Wales. Its ambition is to be an expert regulator that is fair, balanced, and independent so that charity can thrive. This ambition will help to create and sustain an environment where charities further build public trust and ultimately fulfil their essential role in enhancing lives and strengthening society. Find out more: About us – The Charity Commission – GOV.UK
The Commission’s guidance on decision-making is very clear that good decision-making follows a set of key principles, which includes considering risks and appropriately recording the basis of any decisions.
Patients and pupils to benefit from school and hospital repairs
Government investing £1.2 billion to fix crumbling hospitals and schools across England
Government to deliver vital maintenance in hospitals to help prevent cancelled appointments and operations
Focus put back on education as classrooms and school facilities upgraded to be safe and warm
Combined £1.2billion funding is part of government’s promise to deliver public infrastructure improvements through its Plan for Change
Patients and pupils across England are set to benefit from nearly £1.2billion worth of essential maintenance fixes being rolled out at hospitals and schools.
Over 400 hospitals, mental health units and ambulance sites will be handed £750million to tackle long-term problems such as leaky pipes, poor ventilation and electrical issues, helping to prevent thousands of cancelled operations and appointments.
And children at 656 schools and sixth forms will benefit from a share of £470million for projects like fixing crumbling roofs and removing dangerous asbestos – restoring pride in our classrooms and undoing years of dangerous neglect.
The funding is part of the government’s mission to fix the dire state of public service infrastructure it inherited and deliver investment and reform through its Plan for Change.
It will help people benefit from better services and facilities across the health system, and supporting children to get the best start in life.
Secretary of State for Health and Social Care, Wes Streeting, said:
A decade and a half of underinvestment left hospitals crumbling, with burst pipes flooding emergency departments, faulty electrical systems shutting down operating theatres, and mothers giving birth in outdated facilities that lack basic dignity.
We are on a mission to rebuild our NHS through investment and modernisation.
Patients and staff deserve to be in buildings that are safe, comfortable and fit for purpose. Through our Plan for Change, we will make our NHS fit for the future.
Fixing the backlog of maintenance at NHS hospitals will help prevent cancellations, with services disrupted over 4,000 times in 2023/24 due to issues with poor quality buildings.
A wide range of facilities and services will benefit, including over £100million for maternity units to enable better care for mothers and their newborns. This will fund critical improvements such as replacing outdated ventilation systems in neonatal intensive care units, creating optimal environmental conditions for vulnerable babies and their families during challenging times.
The funding will also support schools and sixth form colleges that urgently need repairs – giving parents the confidence that their children are learning in safety and comfort.
It is part of the £2.1 billion investment into the school estate this year, as the government forges on with delivering for the public through our Plan for Change – by investing in our children, their futures and the future of this country.
Education Secretary, Bridget Phillipson, said:
The defining image of the school estate under the previous government was children sitting under steel props to stop crumbling concrete falling on their heads. It simply isn’t good enough.
Parents expect their children to learn in a safe warm environment. It’s what children deserve, and it is what we are delivering.
This investment is about more than just buildings – it’s about showing children that their education matters, their futures matter, and this government is determined to give them the best possible start in life.
This investment will deliver energy efficient, warm classrooms with safe outdoor spaces that are not just fit for lessons, but for the future. Creating a welcoming and supportive school environment for generations of children so they can achieve and thrive as they progress through their education.
The school and hospital funding packages were confirmed in last year’s Autumn Budget, in which an extra £26billion was secured for the NHS.
Simon Corben, Director and Head of Profession for NHS Estates and Facilities at NHS England, said:
I welcome this funding as a long-overdue step toward tackling the unacceptable state of parts of the NHS estate. Too many buildings have been allowed to fall into disrepair, putting patient safety and staff working conditions at risk.
It is now vital that NHS England and local leaders deliver – every pound must be spent wisely, with clear accountability and a laser focus on improving frontline care.
The government has already delivered over 3 million additional NHS appointments since June 2024, exceeding its 2 million target. Additionally, over 1,000 GP surgeries are being modernised to enable 8.3 million more appointments annually.
It has also invested in new technology, including 13 DEXA scanners delivering 29,000 extra bone scans and £70m in radiotherapy machines delivering up to 27,500 additional treatments per year by March 2027.
The Department for Education confirmed a £2.1bn investment for the school estate for 2025-26, almost £300 million more than the previous year, to fix the foundations of our school estate.
A further £1.4 billion will back the acceleration of the School Rebuilding Programme this year, with a commitment to kickstart projects at 100 schools this year alone.
Rejuvenating the school estate by delivering new, high-quality buildings that are not just energy efficient but fit for all pupils needs.
This will provide high-tech facilities that will raise the standards of education through new sports halls, IT rooms, school kitchens and playgrounds that children and staff can enjoy for years to come.
Projects across schools and hospitals will be delivered during the 2025 to 2026 financial year, with the first upgrades expected to begin this summer.
Press releases include statements of IMF staff teams that convey preliminary findings after meetings with the authorities of a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary conclusions of the meetings, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.
IMF Staff and the Togolese authorities have reached staff-level agreement on economic policies and reforms to conclude the second review of the Extended Credit Facility (ECF)-supported program. Once the review is completed by the IMF Executive Board, Togo will have access to SDR 44.0 million (about US$58.4 million) in financing.
The IMF-supported program is broadly on track, with robust growth and moderating inflation. All quantitative targets and all structural benchmarks at end-December 2024 met, except for the quantitative performance criterion on the fiscal balance.
The authorities have reaffirmed their commitment to implementing sound policies, including by raising fiscal revenue, containing debt accumulation, and making growth more inclusive, as well as enacting structural reforms to enhance public financial management, strengthen the financial sector, and enhance governance.
Washington, DC: An International Monetary Fund (IMF) staff team, led by Hans Weisfeld held meetings with the Togolese authorities in Lomé and Washington in recent months to discuss progress under the authorities’ economic program supported by an IMF Extended Credit Facility (ECF) arrangement.
At the conclusion of the discussions, Mr. Weisfeld issued the following statement:
“The mission has had constructive and productive discussions with the Togolese authorities and commended them on the sustained progress in advancing reforms. A staff-level agreement was reached on all policies, including key parameters of the 2025 fiscal framework and reform measures going forward, in line with the program‘s objectives.
“Economic growth reached an estimated 5.3 percent in 2024 and is projected at 5.2 percent in 2025 and around 5.5 percent per year thereafter, barring major adverse shocks. Inflation has continued to slow, reaching 2.6 percent in April 2025 (annual average).
“The IMF-supported government economic policy program is broadly on track. The authorities met all quantitative performance criteria for end-2024 except the criterion on the fiscal balance. Tax revenue in 2024 increased as planned, while non-tax revenue even exceeded expectations. At the same time, financing support provided to local communities affected by floods and the purchase of a large stock of fertilizers that are being made available to farmers at subsidized prices meant that government debt rose more quickly than planned, slowing progress toward stronger debt sustainability. To help the public understand budget execution and the drivers of debt, the authorities have published an explanation of fiscal developments in 2024. This is a very welcome step.
“At the same time, the authorities made good progress on structural reforms. They met both outstanding structural benchmarks set for end-2024 by (i) strengthening the budgetary risk analysis report accompanying the draft annual budgets; and (ii) injecting substantial funds into the remaining public bank to bring its regulatory capital in line with the requirements set by the regional banking regulator. The authorities also aim to continue to enhance governance. They (i) are working on strengthening the public procurement legal framework to require the publication of the names of beneficial owners of companies awarded procurement contracts; and (ii) have invited an IMF Governance Diagnostic Assessment and committed to publishing its findings.
“It will be very important to make good progress on the planned growth-friendly and socially responsible fiscal consolidation to reinforce debt sustainability while continuing reforms to enhance public financial management, strengthen the financial sector, and enhance governance.
“The IMF approved the ECF arrangement in March 2024 to help the authorities address the legacies of shocks seen since 2020, notably the COVID pandemic and the increase in global food and fuel prices. The Togolese authorities were able to lessen the impacts of these shocks on the Togolese economy and population, but this came at the price of large fiscal deficits and a rapidly rising debt burden. The IMF-supported government program aims to (i) make growth more inclusive while strengthening debt sustainability, and (ii) conduct structural reforms to support growth and limit fiscal and financial sector risks. The IMF provides financing of SDR 293.60 million (about US$ 390 million) on favorable terms to Togo through the ECF arrangement. The IMF Executive Board completed the First Review of the program in December 2024.
The staff team looks forward to continuing the fruitful dialogue with the Togolese authorities and stakeholders in the period ahead, including in the context of the mission for the Third Review in the second half of 2025.”
Foreign Minister Winston Peters has announced Hamish Cooper as New Zealand’s next High Commissioner to the United Kingdom. “New Zealand’s relationship with the UK is one of our most important. “Mr Cooper is one of New Zealand’s most senior and experienced diplomats and is eminently well-qualified to take on this significant role,” Mr Peters says.Over his 40-year career at the Ministry, Mr Cooper has held several important roles including as New Zealand’s Ambassador to Japan, Russia, and Türkiye. He will take up the role in September.
TALLAHASSEE, Fla., May 29, 2025 (GLOBE NEWSWIRE) — The Board of Directors of Capital City Bank Group, Inc. (NASDAQ: CCBG) declared a quarterly cash dividend on its common stock of $0.24 per share. The dividend produces an annualized rate of $0.96 per common share and is payable on June 23, 2025 to shareowners of record as of June 9, 2025. The annualized dividend yield is 2.52% based on a closing stock price of $38.06 on May 28, 2025.
About Capital City Bank Group, Inc. Capital City Bank Group, Inc. (NASDAQ: CCBG) is one of the largest publicly traded financial holding companies headquartered in Florida and has approximately $4.5 billion in assets. We provide a full range of banking services, including traditional deposit and credit services, mortgage banking, asset management, trust, merchant services, bankcards, securities brokerage services and financial advisory services, including the sale of life insurance, risk management and asset protection services. Our bank subsidiary, Capital City Bank, was founded in 1895 and now has 62 banking offices and 105 ATMs/ITMs in Florida, Georgia and Alabama. For more information about Capital City Bank Group, Inc., visit www.ccbg.com.
For Information Contact: Jep Larkin Executive Vice President and Chief Financial Officer 850.402.8450
Source: United States House of Representatives – Representative Mark Alford (Missouri 4th District)
Today, Congressman Mark Alford (MO-04) reintroduced the American Land and Property Protection Act. This commonsense legislation will prevent foreign adversaries from purchasing real estate of any kind in the United States.
The American Land and Property Protection Act would specifically prohibit nonresident aliens, foreign businesses, an agent, trustee, or fiduciaries associated with China, Russia, Iran, and North Korea, as well as designated Foreign Terrorist Organizations, from purchasing land in America.
“Our foreign adversaries have no business owning American land,”said Congressman Alford. “Unfortunately, we continue to see concerning reports of people associated with China and Russia purchasing U.S. real estate. We need real action to end these transactions once and for all. The American Land and Property is a commonsense step toward protecting the homeland.”
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
BEIJING, May 29 (Xinhua) — Chinese Defense Ministry spokesman Zhang Xiaogang on Thursday refuted Japan’s irresponsible statements on China’s military development.
Zhang Xiaogang made the denial at a press conference when answering a question about Japan’s draft 2025 Defense White Paper.
The official representative noted that in the draft White Paper on Defense, the Japanese side repeats its irresponsible statements on the development of the Chinese armed forces and tries to give instructions to China on its legitimate military activities and military cooperation with other countries. “We firmly oppose this,” Zhang Xiaogang said.
This year marks the 80th anniversary of the victory in the Chinese People’s War of Resistance against Japanese Aggression and the World Anti-Fascist War.
As Zhang Xiaogang emphasized, at this special historical moment, it is even more important for Japan to reflect on its own behavior rather than making baseless accusations and slandering others.
China calls on Japan to follow the path of peaceful development, act prudently in the military and security spheres, and earn the trust of its Asian neighbors and the entire international community through concrete actions, the official spokesperson concluded. -0-
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
WASHINGTON, May 29 (Xinhua) — A U.S. federal judge on Thursday extended a temporary restraining order against the Donald Trump administration’s policy of barring international students from Harvard University.
According to the Massachusetts District Court document, the temporary injunction “will remain in effect” until the parties consult and submit either a joint motion for a preliminary injunction or individual motions to the judge for consideration, at which point a final order for a preliminary injunction will be entered.
Judge Allison Burrows held a hearing in the case Thursday morning.
On May 22, the U.S. Department of Homeland Security announced that it had revoked Harvard University’s certification for its undergraduate and exchange student program, effectively barring the university from enrolling international students.
On May 23, Harvard University filed a lawsuit against the Trump administration over the policy. That same day, Burrows issued a temporary injunction blocking the administration’s policy and ordering the status quo to be maintained until the merits of the case are heard.
According to Harvard, international students made up more than 27 percent of the university’s total enrollment in the fall 2023 semester. The university currently has about 6,800 international students and scholars from more than 140 countries and regions, most of whom are pursuing master’s and doctoral degrees. –0–
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
LISBON, May 29 (Xinhua) — Portuguese President Marcelo Rebelo de Sousa on Thursday nominated Luis Montenegro as the country’s prime minister following parliamentary elections and talks with parties represented in the Assembly of the Republic (parliament).
The official appointment and swearing-in of the new government will take place after the final election results are confirmed and the first session of the new parliament is held.
After meeting with the President, Carlos Cesar of the Socialist Party and André Ventura of the Chega Party supported the formation of a government led by the Democratic Alliance coalition headed by L. Montenegro. –0–
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
BAKU, May 29 (Xinhua) — Azerbaijan’s gold exports amounted to $95.4 million in January-April 2025, three times higher than in the same period last year, according to the May issue of the Export Review published by the Center for Analysis of Economic Reforms and Communications on Thursday.
As noted in the document, the increase compared to the same period in 2024 was $64 million. In April, the volume of gold exports reached $30.2 million, increasing 2.3 times year-on-year.
Total non-oil exports for the first four months of this year amounted to $1.1 billion, up 18 percent year-on-year. –0–
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
HONG KONG, May 29 (Xinhua) — Chinese Foreign Minister Wang Yi on Thursday met with Chairman of the Asian Peace and Reconciliation Council and former Deputy Prime Minister of Thailand Surakiat Sathienthai, who arrived in Hong Kong to attend the signing ceremony of the Convention Establishing the International Mediation Organization (IMO).
Wang Yi, also a member of the Politburo of the CPC Central Committee, said China’s initiative to establish the IGO provides the international community with a new option for settling disputes and achieving reconciliation on a voluntary basis. The Chinese Foreign Minister called it a real step toward implementing the principles of multilateralism and adhering to the spirit of the UN Charter.
China is willing to work with Asian countries to make good use of regional mechanisms including China-ASEAN, the Shanghai Cooperation Organization, the Lancang-Mekong cooperation and the Asia Cooperation Dialogue to jointly safeguard the hard-won peace and stability in the region, Wang said.
Surakiat Sathienthai, for his part, said that he was honored to be invited to Hong Kong to witness the birth of the International Mediation Organization. He emphasized that in the current international situation, the Chinese initiative is very timely.
Surakiat Sathientai added that the Asian Peace and Reconciliation Council looks forward to strengthening cooperation with the Chinese side to make greater contributions to peace and development in Asia. –0–
Source: United States Senator Reverend Raphael Warnock – Georgia
SenatorsReverend Warnock,Ossoff, and 28 Senators pressedSenate Appropriators stressing the need for full funding for the Georgia-based CDC to protect the centers’ national security and public health work
Earlier this year, Senator Warnock led the charge in demanding answers about the termination of 20,000 full time staff at HHS, includingthousands of CDC employees
Washington, D.C. – Today, U.S. Senator Reverend Raphael Warnock (D-GA) led 29 Senate colleagues in urging Senate leadership to work across party lines and protect the mission of the Georgia-based Centers for Disease Control and Prevention (CDC) by providing at or near $9.683 billion in support of the agency. In a letter sent to the Subcommittee on Labor, Health and Human Services, Education, and Related Agencies, Senators Warnock, Jon Ossoff (D-GA), and 28 other Senate colleagues stressed the importance of protecting the CDC’s national security and public health work.
“During the first several months of 2025, the Trump administration fired thousands of dedicated public health professionals who have devoted their life’s work to the health, safety, and security of our constituents. These mass terminations not only destabilize our country’s public health infrastructure, but they also put our economy at risk when people get sick, and no one is there to respond,” the senators said.
“These cuts will not make American’s healthy. The CDC must remain the world’s preeminent public health agency and to do so, the CDC must have the tools it needs to continue its work. We support robust funding for CDC’s response efforts to domestic health threats, much of which flows through state and local public health agencies,” they continued.
At the conclusion of the letter, the Democratic senators emphasize their willingness to work with their Republican counterparts on legislation that can pass the Senate.
“In 2023, Congress, on a bipartisan basis, affirmed the importance of CDC by requiring its director to be confirmed by the Senate, which was a critical step to bolstering the public’s trust in the CDC. By prioritizing funding for its essential programs, including non-communicable disease prevention, global health initiatives, data modernization, and workplace safety, Congress can ensure that the CDC will continue to protect and enhance the health and safety of all Americans,” the senators closed.
Senator Warnock has repeatedly stood up in defense of CDC workers, including joining them at a rally, delivering a floor speech opposing Secretary Kennedy’s nomination, demanding answers from administration nominees at Congressional hearings, and more. Since the CDC and its employees became a target of this administration, Senator Warnock has led several efforts defending their employment and the crucial role they play in keeping the nation safe. Earlier this year, Senator Warnock sent a letter to President Trump and Secretary Kennedy requesting additional information about the termination of 20,000 full-time staff and organizational restructuring at the Department of Health and Human Services (HHS).
In addition to Senators Warnock and Ossoff, the letter was signed by U.S. Senators Amy Klobuchar (D-MN), Ben Ray Lujan (D-NM), Dick Durbin (D-IL), John Hickenlooper (D-CO), Angela Alsobrooks (D-MD), Elissa Slotkin (D-MI), Chris Coons (D-DE), Catherine Cortez Masto (D-NV), Tammy Duckworth (D-IL), Jeanne Shaheen (D-NH), Ron Wyden (D-OR), Cory Booker (D-NJ), Mark Kelly (D-AZ), Elizabeth Warren (D-MA), Lisa Blunt Rochester (D-DE), Kirsten Gillibrand (D-NY), Alex Padilla (D-CA), Tina Smith (D-MN), Jeff Merkley (D-OR), Richard Blumenthal (D-CT), Angus King (I-ME), Peter Welch (D-VT), Michael Bennet (D-CO), Ruben Gallego (D-AZ), Andy Kim (D-NJ), Mazie Hirono (D-HI), and Jacky Rosen (D-NV).
Read the full letter HERE, and the text is below
Dear Chairwoman Capito and Ranking Member Baldwin,
As you consider the Fiscal Year 2026 Labor, Health and Human Services, Education and Related Agencies Appropriations bill, we thank you for your strong commitment to the Centers for Disease Control and Prevention (CDC) and to the nation’s public health security. Werespectfully request that you protect the mission of CDC by providing robust funding at ornear the level of $9.683 billion for the agency.
In recent months, President Trump and Secretary Kennedy have taken a hatchet to our public health agencies by massively reducing or eliminating programs historically authorized and appropriated by Congress on a bipartisan basis. During the first several months of 2025, the Trump administration fired thousands of dedicated public health professionals who have devoted their life’s work to the health, safety, and security of our constituents. These mass terminations not only destabilize our country’s public health infrastructure, but they also put our economy at risk when people get sick, and no one is there to respond.
The President’s FY26 Discretionary Budget Request proposes drastic reductions to CDC’s budget of nearly 44 percent, despite rising rates of measles, STIs, maternal deaths, and chronic diseases. The elimination of the CDC’s chronic disease prevention office also contradicts the Administration’s stated goal of addressing the chronic disease epidemic in our country. These cuts will not make American’s healthy. The CDC must remain the world’s preeminent public health agency and to do so, the CDC must have the tools it needs to continue its work.
We support robust funding for CDC’s response efforts to domestic health threats, much of which flows through state and local public health agencies. Our public health departments use this funding to provide access to vaccines, STI testing, disease outbreak tracing, and general improvements to health care access. Continued investment in the CDC will have a direct, positive effect on the economy, since healthy people means a healthy economy. Additionally, the return on investment for public health funding results in savings over the long-term
Without funding appropriated to and administered by the CDC, many of our state and local public health agencies would be critically underfunded or worse, nonexistent. We request that the committee support the public health workforce and public health departments by fully funding Public Health and Preparedness programs, including programs that prevent HIV/AIDS, Viral Hepatitis, STI and TB, as well as the Chronic Disease Prevention and Health Promotion program and the Public Health Social Services Emergency Fund (PHSSF). In particular, the National Center on Chronic Disease Prevention and Health Promotion must be fully funded, unlike the President’s FY26 Budget Request, to allow CDC to respond to the chronic disease crisis.
Another longstanding mission of the CDC is its Global Health Securityprograms, and we are concerned by the Trump administration’s efforts to prevent CDC researchers and officials from working directly with non-government organizations and global public health organizations. More than 70 percent of the world remains underprepared to respond to a public health emergency, and with our globally-connected society, disease outbreaks around the world pose threats to the U.S. We urge continued funding for global health programs at the CDC, so the agency can continue to work with other countries to build capacities in surveillance, disease detection, and outbreak response to stop deadly diseases at their source. We also encourage funding for Public Health Data Modernization efforts. Enhanced data systems enable the CDC to better track health trends, identify emerging threats, and allocate resources efficiently. Policymakers and researchers rely on precise data to make informed decisions and provide sound health guidance to the public. Modernized data infrastructure supports interoperability between agencies, facilitating collaboration and improving the overall quality of health information. The CDC should have the necessary data authority to access the information required for effective decision-making, ensuring public health strategies are based on the most reliable data available. Investing in data modernization not only strengthens domestic health security but also enhances global health initiatives by enabling swift responses to international health challenges.
We also strongly support keeping all Centers at the CDC fully operational and funded, including the National Center for Injury Prevention and Control (NCIPC) and the National Institute for Occupational Safety and Health (NIOSH). The NCIPC helps CDC address public health challenges like opioid use disorder, child abuse, drowning, falls in the elderly population, and domestic violence. The NCIPC, which was eliminated in the President’s FY26 Discretionary Budget Request, will make our country healthier and safer. Additionally, NIOSH benefits from the CDC’s comprehensive public health infrastructure, facilitating collaboration and resource sharing that enhances its research and intervention capabilities. Continued funding for NIOSH supports its mission to prevent work-related injuries and illnesses, ultimately contributing to a healthier, more productive workforce and reducing healthcare costs associated with occupational hazards.
The CDC is the cornerstone of public health in the United States and the world. In 2023, Congress, on a bipartisan basis, affirmed the importance of CDC by requiring its director to be confirmed by the Senate, which was a critical step to bolstering the public’s trust in the CDC. By prioritizing funding for its essential programs, including non-communicable disease prevention, global health initiatives, data modernization, and workplace safety, Congress can ensure that the CDC will continue to protect and enhance the health and safety of all Americans.
Your support in maintaining and expanding these vital resources will empower the CDC to effectively address current and future health challenges. Thank you for considering this request, and for your commitment to advancing public health through robust funding support of the CDC.
Source: United Kingdom – Executive Government & Departments
Speech
Putin claims to share values of dignity and peace, yet continues to violate them: UK statement at the UN Security Council
Statement by Ambassador James Kariuki, UK Deputy Permanent Representative to the UN, at the UN Security Council meeting on Ukraine.
Colleagues, we convene today to address the situation in Ukraine, as we collectively mourn the lives lost due to Russia’s recent attacks.
This weekend saw two of the largest mass air attacks of the war, back-to-back.
Over three days, Russia launched over 900 drones and missiles at Ukrainian cities, reportedly resulting in the deaths of 30 people and injuring a further 150.
And these deaths were not an accident. Russia’s missile and drone strikes struck major urban centres and densely populated regions.
Over the night of 24 May, among those killed were three children, specifically, three siblings: Stanislav, aged 8, Tamara, aged 12, and Roman, aged 17. Each of them on the edge of a new chapter of childhood, adolescence, and young adulthood, all of them robbed of life too soon.
Such acts are a stark reminder of the urgent need to bring this war to an end.
Russia’s attacks are not only sustained, they are worsening. As OHCHR has verified, in the first three months of this year alone, there have been 2,641 civilian casualties. That’s nearly 900 more than during the same period in 2024, and over 600 more than early 2023.
The increased killing of civilians is an affront to our shared values of human dignity and peace.
Values which President Putin claims to share, yet continues to violate.
Putin’s priorities are demonstrated by his timing. These attacks were launched days after talks in Istanbul, in which Russia, yet again, refused to agree to an unconditional ceasefire.
Presented with another opportunity for meaningful progress towards peace, Putin chose war.
President, while Ukraine stands ready for an unconditional ceasefire, Russia sustains its aggression. And once again, innocent civilians are paying the price. Russia’s actions speak much louder than its words.
So we call on Russia to comply with international law, including the UN Charter, and to stop the killing of innocent civilians.
Russia’s unrelenting invasion of its sovereign neighbour will only redouble our resolve to help Ukraine defend itself and to use the necessary measures to restrict Putin’s war machine.
We will work in unison with the US, Ukraine, our European and international partners until a just and lasting peace is no longer an aim, but an enduring reality.
Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)
ALBANY, Ga. – A Georgia resident with prior criminal convictions, including for domestic violence, was found guilty this week at trial of illegally possessing a firearm.
Devon Marquell Rambo, 28, is guilty of one count of possession of a firearm by a convicted felon. Rambo faces a maximum sentence of 15 years in prison. The trial began on May 27 and concluded on May 28. Chief U.S. District Judge Leslie Gardner is presiding over the case. A sentencing date will be determined by the Court. There is no parole in the federal system.
“Convicted felons caught illegally possessing firearms will face federal prosecution in the Middle District of Georgia,” said Acting U.S. Attorney C. Shanelle Booker. “I want to thank the Albany Police Department and ATF for their ongoing collaboration to help us uphold the law.”
“When convicted felons repeatedly ignore the law and continue to carry guns, they leave us no choice but to bring the full force of federal prosecution,” said Beau Kolodka, Assistant Special Agent in Charge, ATF Atlanta Field Division. “This verdict sends a clear message: We are watching, we are acting and we are not backing down.”
“We are grateful for the assistance that we have been receiving from the U.S. Attorney’s Office to hold offenders accountable,” said Albany Police Chief Michael Persley. “I hope this case serves as a warning that the illegal possession of weapons is not tolerated and will be prosecuted to the fullest extent of the law.”
According to court documents and statements referenced in court, Albany Police Department (APD) officers responded to a report of shooting and disorderly conduct on Sept. 20, 2024, at around 10:30 a.m. at a residence on Avalon Avenue. Based on this, the officers obtained a search warrant and lawfully executed that search warrant on the residence. Officers found Rambo alone at the house. After Rambo was apprehended, officers commenced the search of the residence. Inside Rambo’s house, officers found he had covered his wife’s dog, furniture and several areas of the home with oil, which would make it difficult for officers to arrest him. During the search, they also found a black safe in one of the rooms, which contained a pistol and a semi-automatic rifle, two 9mm pistol magazines, one rifle magazine and ammunition along with Rambo’s social security card, credit card and Texas inmate identification card. Rambo has prior felony convictions in Texas for domestic violence and burglary. There was also an active arrest warrant out of Texas for aggravated assault at the time of this incident in Georgia. It is illegal for a convicted felon to possess a firearm.
This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs) and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).
The case was investigated by the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) and the Albany Police Department with assistance from the Dougherty County Sheriff’s Office.
U.S. Attorneys Sara Lim and Matthew Redavid are prosecuting the case for the Government.
CHANDLER, Ariz., May 29, 2025 (GLOBE NEWSWIRE) — Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today updated the range of its prior guidance for net Sales and GAAP and non-GAAP earnings per share for its fiscal first quarter of 2026 ending June 30, 2025. Microchip now expects consolidated net sales for the June quarter to be between $1.045 billion and $1.070 billion. Microchip previously provided guidance on May 8, 2025 of consolidated net sales to be between $1.025 billion and $1.070 billion. GAAP loss per share is now expected to be between $(0.11) and $(0.07), and non-GAAP earnings per share is now expected to be between $0.22 and $0.26. The original guidance for the GAAP loss per share was $(0.15) and $(0.07), and the original guidance for non-GAAP earnings per share was between $0.18 and $0.26.
Steve Sanghi, Microchip’s CEO and President, commented, “With almost two months of the quarter behind us, our business is performing better than we expected at the time of our May 8, 2025 earnings conference call. Our bookings activity for the month of May is tracking to be higher than any month in the last two years. We are gaining confidence in the recovery of our business as we execute on our strategic initiatives, reduce inventory levels and make progress towards our long-term business model.”
There will be no conference call associated with this press release. Microchip is attending the Stifel 2025 Cross Border 1×1 Conference and the B of A Securities Global Technology Conference on Wednesday June 3, 2025. A live webcast and replays from the B of A Conference will be available at www.microchip.com
Cautionary Statement:
The statements in this release relating to expecting consolidated net sales for the June quarter to be between $1.045 billion and $1.070 billion, GAAP loss per share to be between $(0.11) and $(0.07), non GAAP earnings per share to be between $0.22 and $0.26, that our business is performing better than we expected, that our bookings activity for the month of May is tracking to be higher than any month in the last two years, that we are gaining confidence in the recovery of our business as we execute on our strategic initiatives, reduce inventory levels and make progress towards our long-term business model are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause our actual results to differ materially, including, but not limited to: any continued uncertainty, fluctuations or weakness in the U.S. and world economies (including China and Europe) due to changes in the scope and level of tariffs, interest rates or high inflation, actions taken or which may be taken by the Trump administration or the U.S. Congress (including budget and tax legislation), monetary policy, political, geopolitical, trade or other issues in the U.S. or internationally (including the military conflicts in Ukraine-Russia and the Middle East), further changes in demand or market acceptance of our products and the products of our customers and our ability to respond to any increases or decreases in market demand or customer requests to reschedule or cancel orders; the mix of inventory we hold, our ability to satisfy any short-term orders from our inventory and our ability to effectively manage our inventory levels; foreign currency effects on our business; changes in utilization of our manufacturing capacity and our ability to effectively manage our production levels to meet any increases or decreases in market demand or any customer requests to reschedule or cancel orders; the impact of inflation on our business; competitive developments including pricing pressures; the level of orders that are received and can be shipped in a quarter; our ability to realize the expected benefits of our long-term supply assurance program; changes or fluctuations in customer order patterns and seasonality; our ability to effectively manage our supply of wafers from third party wafer foundries to meet any decreases or increases in our needs and the cost of such wafers, our ability to obtain additional capacity from our suppliers to increase production to meet any future increases in market demand; our ability to successfully integrate the operations and employees, retain key employees and customers and otherwise realize the expected synergies and benefits of our acquisitions; the impact of any future significant acquisitions or strategic transactions we may make; the costs and outcome of any current or future litigation or other matters involving our acquisitions (including the acquired business, intellectual property, customers, or other issues); the costs and outcome of any current or future tax audit or investigation regarding our business or our acquired businesses; the impact that the CHIPS Act will have on increasing manufacturing capacity in our industry by providing incentives for us, our competitors and foundries to build new wafer manufacturing facilities or expand existing facilities; the amount and timing of any incentives we may receive under the CHIPS Act, the impact of current and future changes in U.S. corporate tax laws (including the Inflation Reduction Act of 2022 and the Tax Cuts and Jobs Act of 2017); fluctuations in our stock price and trading volume which could impact the number of shares we acquire under our share repurchase program and the timing of such repurchases; disruptions in our business or the businesses of our customers or suppliers due to natural disasters (including any floods in Thailand), terrorist activity, armed conflict, war, worldwide oil prices and supply, public health concerns or disruptions in the transportation system; and general economic, industry or political conditions in the United States or internationally.
For a detailed discussion of these and other risk factors, please refer to Microchip’s filings on Forms 10-K and 10-Q. You can obtain copies of Forms 10-K and 10-Q and other relevant documents for free at Microchip’s website (www.microchip.com) or the SEC’s website (www.sec.gov) or from commercial document retrieval services.
Stockholders of Microchip are cautioned not to place undue reliance on our forward-looking statements, which speak only as of the date such statements are made. Microchip does not undertake any obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after this May 8, 2025 press release, or to reflect the occurrence of unanticipated events.
About Microchip:
Microchip Technology Incorporated is a leading provider of smart, connected and secure embedded control solutions. Its easy-to-use development tools and comprehensive product portfolio enable customers to create optimal designs, which reduce risk while lowering total system cost and time to market. Our solutions serve approximately 109,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit the Microchip website at www.microchip.com.
Note: The Microchip name and logo are registered trademarks of Microchip Technology Incorporated in the U.S.A. and other countries. All other trademarks mentioned herein are the property of their respective companies.
INVESTOR RELATIONS CONTACT: Sajid Daudi — Head of Investor Relations….. (480) 792-7385
Stuttgart, Germany, May 29, 2025 (GLOBE NEWSWIRE) — Stuttgart, Germany – May 2025 – RIB Software, a global leader in engineering and construction software technology, today announced the launch of its latest global brand campaign: “You See It. Together, We’ll See It Through.” The campaign celebrates the diverse community of industry professionals shaping the built environment – and RIB’s role in empowering them with digital solutions that enable smarter, faster, and more sustainable project outcomes.
“Whether our customers are creating entire cities, infrastructure, or spaces where people live or work, RIB stands beside them from planning to breaking ground and beyond – with tools that reduce costs, save time, and minimize environmental impact,” explains Mads Bording, Chief Strategy & Marketing Officer at RIB Software.
The campaign reflects RIB’s belief that the future of the industry depends on more connected, empowered project teams. Its suite of connected solutions helps architecture, engineering, and construction (AEC) professionals simplify operations, improve profitability, and deliver sustainable results – whether they’re managing a small-scale development or a multi-billion-dollar infrastructure project.
“At RIB, we believe every project starts with a vision,” said René Wolf, CEO of RIB Software. “Our new brand campaign is about showing that we don’t just provide the technology – we commit to the journey. Our customers see the vision, and together, we’re committed to helping them see it through.”
Trusted by leading AEC professionals worldwide, RIB’s tools provide a digital thread across the entire project lifecycle, ensuring more effective collaboration and better outcomes at every stage. No matter the size or complexity of a project, RIB delivers the insights, automation, and support needed to get it over the line, on time and on budget.
Every structure begins with an idea. But it takes more than vision to bring complex builds to life. From architects and estimators to project managers and executives, the engineering and construction industry depends on close collaboration, timely insight, and trusted support. RIB’s technology is built with this in mind – tailored to meet the real-world needs of the people who plan, build, and deliver.
As part of RIB’s Hard Hats & Hi Tech podcast series, customers from around the world have shared their firsthand experience with RIB tools, and how these solutions are helping them meet real challenges on real projects.
“RIB Candy has made my life easier. Everything is integrated, which means I can manage cost reports, payment certificates, and valuations without switching between tools,” said Luscha Matsane, Quantity Surveyor at Tri-Star Construction. “It’s a platform that understands how we actually work on-site, and it’s changed how I collaborate and justify decisions with clients.”
“RIB SpecLink helps me work faster, smarter, and with more confidence,” said Eric Ledbetter, specification consultant and founder of Ledbetter Ink. “The linking engine automates decisions across the spec set, reduces errors, and lets me focus on quality and context. It’s completely changed the way I approach spec writing—and how I teach others to do it.”
“At RIB, we don’t just build software – we build it the way people in the built environment actually work,” said René. “We understand the pressure of deadlines, the need for precision, and the challenge of coordination across multiple stakeholders. Our role is to help our customers deliver with confidence.”
RIB invites AEC leaders, innovators, and visionaries to explore the campaign and discover how a partnership with RIB can help them realize their boldest ideas.
Driven by transformative digital technologies and trends, RIB is committed to propelling the industry forward and making engineering and construction more efficient and sustainable.
Throughout its 60-year history, the business has expanded its global footprint to incorporate more than 550,000 users and 2,500 talents, with the vision of transforming the operation into a worldwide powerhouse and providing innovative software solutions to its core markets – while placing its people at the heart of everything it does.
Managing the entire project lifecycle, from planning and construction, to operation and maintenance, the development of RIB’s portfolio of software solutions is driven by industry expertise, best practice and a passion to remain at the cutting edge of technology.
Ultimately, it aims to connect people, processes and data in innovative ways to ensure its customers always complete projects within budget, on time and to high quality, while reducing their carbon footprints.
RIB Software is a proud Schneider Electric company.
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
BEIJING, May 29 (Xinhua) — The 6th Cross-Strait Media Summit was held in the Chinese capital on Thursday, bringing together nearly 150 media executives, scholars and representatives from the mainland and Taiwan.
As Fu Hua, director general of Xinhua News Agency, noted at the summit, the media serves as an important bridge for disseminating information, strengthening mutual understanding and enhancing emotional interaction between the two banks.
Fu Hua called on media workers on both banks to jointly strengthen people-to-people ties, maintain confidence in their own culture to preserve the common heritage, and shoulder the honorable responsibility of national rejuvenation.
He expressed hope that media workers on both sides of the strait will continue to contribute to the peaceful development of cross-strait relations.
Wu Xi, vice director of the CPC Central Committee Office for Taiwan Affairs and the State Council Taiwan Affairs Office, said that media on both sides of the strait should play a more active role in returning cross-strait relations to the right track, promote spiritual rapprochement between compatriots, and jointly respond to technological changes and the transformation of the media landscape.
Taiwanese representatives, including Want Want China Vice Chairman Zhou Siwei and Eastern Multimedia Group CEO Wang Linglin, called for strengthening exchanges and cooperation, staying on course amid changes and challenges to move toward a brighter future.
The summit, co-hosted by Xinhua and Beijing Daily, launched a mentoring program for young media workers from both sides of the Taiwan Strait and unveiled a joint initiative for cross-strait media cooperation for the next decade. –0–
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
BEIJING, May 29 (Xinhua) — Chinese Vice Premier Liu Guozhong on Thursday called for relentlessly consolidating and expanding China’s achievements in poverty alleviation and ensuring a smooth transition to providing aid to rural areas on a regular basis.
During the thematic meeting, Liu Guozhong, also a member of the Politburo of the CPC Central Committee, noted that continuous efforts must be made to prevent a large-scale return to poverty or its re-emergence.
Having announced that absolute poverty will be eradicated in 2021, China has set a five-year transition period to consolidate and build on the achievements of poverty alleviation and integrate these achievements into the process of rural revitalization.
Recalling that this year is the final year of this transition period, Liu Guozhong called for measures to optimize the monitoring and assistance system, ensure stable employment for people who have been lifted out of poverty, improve the quality and efficiency of supporting industries, and improve the mechanisms for long-term asset management of assistance projects.
The Vice Premier stressed the need to deepen cooperation between the eastern and western regions of the country and targeted assistance, calling for active work to provide regular assistance to low-income rural residents and underdeveloped areas in the post-transition period.
During the meeting, eight provincial-level regions in eastern China signed aid agreements for 2025 with 10 provincial-level regions in the west. –0–
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
Moscow, May 29 /Xinhua/ — Chen Wenqing, a member of the Politburo of the CPC Central Committee and head of the Political and Legal Affairs Commission of the CPC Central Committee, attended and delivered a speech at the 13th International Meeting of High Representatives in Charge of Security Issues held in Russia on May 28.
Representatives from 126 countries and international organizations attended the meeting.
Chen Wenqing recalled that Chinese President Xi Jinping put forward the Global Security Initiative, holding high the banner of cooperation, innovation, rule of law and win-win, and providing important guidance for unifying efforts to safeguard global security.
The head of the Political and Legal Affairs Commission of the CPC Central Committee noted that China is ready to work with the international community to adhere to the concept of common, comprehensive, joint and sustainable security, jointly respond to various risks and challenges, and jointly build a world of universal security.
In addition, Chen Wenqing attended the meeting of the heads of delegations of the BRICS countries and the meeting of the heads of delegations of the Shanghai Cooperation Organization member states, and held bilateral meetings with the heads of some of these delegations. The two sides reached consensus on strengthening international security cooperation and improving global security governance.
In addition, on May 27, Chen Wenqing and Russian Security Council Secretary Sergei Shoigu co-chaired the 10th meeting of the China-Russia cooperation mechanism in law enforcement and security.
Chen Wenqing pointed out that in early May, Chinese President Xi Jinping held a successful meeting with Russian President Vladimir Putin, outlining new development horizons for the next stage of Chinese-Russian relations.
China is ready to work with Russia to implement the important consensus reached by the heads of state of the two countries, improve the quality of cooperation in law enforcement and security, give a powerful impetus to the development, rise and modernization of the two countries, actively implement the Global Security Initiative, and make a positive contribution to global strategic stability and the democratization of international relations, Chen Wenqing emphasized.
S. Shoigu, for his part, noted that the state visit of Chairman Xi Jinping to Russia and his participation in the celebrations of the 80th anniversary of Victory in the Great Patriotic War were of great bilateral and multilateral significance. He added that Russia is ready to work with China to increase the level of cooperation in law enforcement and security, effectively protect the fundamental interests of the two countries and bring stability to the world. –0–
Support continues to grow for President Donald J. Trump’s One, Big, Beautiful Bill — a generational opportunity to secure historic tax cuts, deficit reduction, border security, and more.
READ: The National Fraternal Order of Police endorses the One, Big, Beautiful Bill
In recent days:
The National Fraternal Order of Police — the nation’s largest organization of law enforcement —announcedtheir support, highlighting the bill’s strong pro-labor provisions: “The ‘One Big Beautiful Bill Act’ is more than legislation—it is a promise kept to the public safety officers across the country and a bold step toward an economy that respects, rewards, and uplifts the people who keep it safe … We appreciate that President Trump is always fighting for our nation’s law enforcement officers.”
Secretary of Transportation Sean Duffyurgedthe Senate to quickly pass the bill and fund the long overdue modernization of America’s air traffic control systems: “We have an antiquated and old air traffic control system, anywhere from 25 to 35, 40 years old in some places. It is in desperate need of a brand-new build. We need Congress to act.”
National Federation of Independent Business SVP Jeff Brabantpraisedthe legislation’s commitment to economic prosperity: “This is one of the more pro-small business pieces of legislation, in my opinion, in recent history. Hopefully this thing becomes law.”
Scores of other organizations have declared their support for the One, Big, Beautiful Bill:
Association of Equipment Manufacturers SVP of Government and Industry Relations Kip Eideberg: “Equipment manufacturers applaud the House of Representatives for passing the One Big Beautiful Bill Act, which will supercharge job creation and investment in domestic manufacturing. The bill’s critical tax proposals – including protecting the corporate tax rate, reinstating immediate R&D expensing, and increasing the pass-through deduction – will strengthen the U.S. equipment manufacturing industry and bolster our global competitiveness. We urge the Senate to keep these pro-manufacturing provisions and act swiftly to pass this historic legislation.”
National Restaurant Association President and CEO Michelle Korsmo: “This legislation is a major victory for restaurant owners, employees, and the communities they serve. It incorporates key tax provisions vital for industry growth, such as the 199A qualified business income deduction, full expensing of capital investments, and the reinstatement of depreciation and amortization in calculating business interest expenses. These measures are crucial for helping businesses have the working capital they need to cover payroll, manage rising supply costs, and stay competitive. The inclusion of the No Tax on Tips and No Tax on Overtime provisions recognizes the value of our dedicated workforce. More than two million tipped servers and bartenders stand to benefit, while the overtime measure rewards the commitment of over 13 million hourly team members across the sector. Tax policy can determine the survival of small businesses, especially restaurants, where pre-tax margins are often just 3–5%. The inclusion of so many supportive policies was made possible by the unified efforts of our National and State Association members, including the restaurant owners, industry advocates, and employees who shared compelling stories with House members about the positive effect these changes will have on businesses and local economies. We’re grateful for the strong policy provisions and look forward to collaborating with the Senate as the process moves forward.”
International Foodservice Distributors Association SVP of Government and Public Affairs Mala Parker: “IFDA applauds House passage of the One Big Beautiful Bill Act, which includes tax policy essential for the foodservice distribution industry, almost 90 percent of which are family-owned businesses. Increasing and making permanent the 199A pass-through deduction and estate tax exemption will provide certainty and encourage growth for the industry that makes meals away from home possible. We urge the Senate to maintain these provisions as the bill works its way through the legislative process.”
Independent Insurance Agents and Brokers of America SVP Nathan Riedel: “The House took a very big and positive step to bring economic certainty to thousands of small business owners and the consumers they represent. We urge the Senate to do its work to move this legislation forward.”
American Farm Bureau Federation President Zippy Duvall: “Farm Bureau applauds the House passage of H.R.1, which modernizes farm bill programs and extends and improves critical tax provisions that benefit America’s small farmers and ranchers. Updated reference prices will provide more certainty for farmers struggling through tough economic times. Making business tax deductions permanent and continuing current estate tax exemptions will ensure thousands of families will be able to pass their farms to the next generation. We urge the Senate to work together and swiftly pass legislation to deliver much-needed relief to America’s farm and ranch families.”
U.S. Chamber of Commerce Executive Vice President Neil Bradley: “The House sent a clear message today—American workers and businesses want and need permanent tax relief. A competitive, pro-growth tax code doesn’t just grow the overall U.S. economy, it raises wages for workers and improves the lives of Americans. The legislation passed out of the House this morning contains critical measures that support main street businesses, enhance America’s global competitiveness, and bolster sustained economic growth. The Chamber commends Speaker Johnson for his leadership and commitment to ensuring the permanence of President Trump’s pro-growth tax reforms, and applauds the lawmakers involved in driving this effort forward. We encourage the Senate to continue to move the legislative process forward to deliver lasting benefits for American workers and businesses.”
Airlines for America: “A4A commends the House for passing the One Big Beautiful Bill Act which includes a critical investment of $12.5 billion for modernizing the Federal Aviation Administration’s air traffic facilities, systems and infrastructure. ATC staffing shortages and antiquated equipment, such as copper wires, floppy disks and paper strips, have been a serious concern for years—we are past time to make meaningful change and ensure that the United States has a world-class aviation system. This funding is a vital down payment on updating the system that guides 27,000 flights, 2.7 million passengers and 61,000 tons of cargo every day. The legislation also makes smart, strategic investments in Customs and Border Protection personnel and training for the aviation workforce of tomorrow while supporting American energy dominance in aviation fuel production. We encourage the Senate to move swiftly to pass this bill and send it to the President.”
National Cattlemen’s Beef Association President Buck Wehrbein: “Cattle farmers and ranchers need Congress to invest in cattle health, strengthen our resources against foreign animal disease, support producers recovering from disasters or depredation, and pass tax relief that protects family farms and ranches for future generations. Thankfully, this reconciliation bill includes all these key priorities. NCBA was proud to help pass this bill in the House and we will continue pushing for these key policies until the bill is signed into law.”
Uber CEO Dara Khosrowshahi: “Big news from DC—the House just passed President Trump’s tax bill, bringing No Tax On Tips one step closer to the finish line. While it still needs to clear the Senate, this is a big win for hardworking @Uber drivers and couriers across the country 👏”
Job Creators Network CEO Alfredo Ortiz: “Congratulations to President Trump and Speaker Johnson for passing their reconciliation bill in the House. This bill offers historic tax cuts for small businesses and ordinary Americans. By making the Tax Cuts and Jobs Act permanent and expanding key provisions, such as the small business tax deduction, which Job Creators Network was the loudest voice for, this bill offers significant tax relief for decades to come. It will allow small businesses, the backbone of the American economy, to expand, hire, raise wages, and reinvest in their communities, ushering in a new economic Golden Age. On behalf of all small businesses, JCN thanks President Trump and Speaker Johnson for their leadership in passing this bill, which the media said couldn’t be done on this aggressive timeline. Now it’s time for the Senate to follow suit and pass similar legislation, which includes the House’s key small business tax cuts, as soon as possible.”
National Association of Manufacturers President and CEO Jay Timmons: “Today’s House passage of this historic legislation marks a major victory for manufacturers across America. This pro-growth legislation preserves crucial tax policies that will enable manufacturers to create jobs, invest in their communities, grow here at home and compete globally. In short, this is a manufacturers’ bill … This is a pivotal moment. It’s time to double down on policies that encourage manufacturers to invest and create jobs in America and keep our industry strong and our nation competitive on the world stage—because when manufacturing wins, America wins.”
Business Roundtable President and COO Kristen Silverberg: “Under Speaker Johnson’s leadership, the House has achieved a major milestone toward extending and strengthening President Trump’s historic tax reform. Business Roundtable commends the House on taking a giant step forward to protect and boost the economic benefits that tax reform delivered for American businesses, workers and families. By maintaining a competitive corporate tax rate and enhancing essential domestic and international tax provisions, the House budget reconciliation bill will help fuel U.S. investment, innovation and economic growth. As the Senate prepares to act, we stand ready to continue working with Congress and the Administration to pass the most competitive, pro-growth tax package possible.”
American Petroleum Institute President and CEO Mike Sommers: “We applaud the House of Representatives for passing the One Big Beautiful Bill Act to help restore American energy dominance. By preserving competitive tax policies, beginning to reverse the ‘methane fee,’ opening lease sales and advancing important progress on permitting, this historic legislation is a win for our nation’s energy future. We look forward to working with the Senate to strengthen pro-investment provisions and keep America at the forefront of energy innovation.”
National Association of Wholesaler-Distributors CEO Eric Hoplin: “We applaud the House of Representatives for passing the One Big Beautiful Bill Act and extend our sincere thanks to Speaker Mike Johnson, Chairman Jason Smith, the Ways and Means Committee, and House leadership for championing this pro-business, pro-worker legislation. This is a win for the people who roll up their sleeves every day to power our economy, entrepreneurs who build businesses from the ground up, and the workers who keep them running. We urge the Senate to act swiftly and send this bill to the President’s desk so America’s job creators and workers can keep driving our economy forward. The bill makes the 199A deduction permanent and expands it to 23%, helping millions of small businesses, including most wholesaler-distributors. It raises the death tax exemption, protecting family-owned businesses, and restores vital incentives that encourage investment, innovation, and long-term economic growth.”
Small Business & Entrepreneurship Council President and CEO Karen Kerrigan: “H.R. 1 delivers a big, beautiful boost to U.S. entrepreneurship and small businesses. SBE Council applauds U.S. House passage of this critically important legislation. In addition to permanent tax relief and incentives that will help entrepreneurs and small business owners grow their firms, level up their businesses, and support their employees, various measures in the legislation correctly right-fit various federal programs and functions that have gone awry and consequently have undermined fiscal accountability and the private sector. Time is of the essence in getting the One Big Beautiful Bill to President Trump’s desk, and we urge the U.S. Senate to move post haste on the work that must be done to deliver the big benefits of the package to small business owners, all taxpayers, and the U.S. economy.”
National Business Aviation Association President and CEO Ed Bolen: “We commend the House for recognizing the importance of improving ATC infrastructure and strengthening the controller workforce to enhance safety and efficiency in the National Airspace System. Business aviation’s ability to serve citizens, companies and communities is only possible because the U.S. leads the world in aviation … As the House reconciliation bill moves to the Senate for consideration, we look forward to working with lawmakers on both sides of the aisle to advance these forward-looking provisions that bolster an essential industry, support countless workers and promote American competitiveness.”
America’s Credit Unions President and CEO Jim Nussle: “Thank you to the U.S. House of Representatives for securing credit unions’ not-for-profit tax status as part of H.R. 1 and recognizing the industry’s importance to strong Main Streets across the country. More than 142 million Americans trust and rely on credit unions to achieve their American Dream, and this bill allows them to continue on their path of financial freedom. We will continue to advocate for policies that create more opportunities for credit unions to bolster our nation’s economic prosperity. We call on the U.S. Senate to continue to protect the credit union tax status as they consider this legislation.”
National Taxpayers Union Executive Vice President Brandon Arnold: “The bill passed by the House contains growth-focused tax relief and some important first steps toward long-needed spending restraint. The Senate now has a strong package that it can build upon and further improve.”
National Association of REALTORS Executive Vice President Shannon McGahn: “We appreciate House leaders for taking this important step with this tax reform bill, which supports hardworking families and strengthens the real estate economy. With lower tax rates, SALT relief, and new incentives for small businesses and community development, this proposal brings real benefits to everyday Americans.”
National Electrical Contractors Association CEO David Long: “These provisions recognize the real-world needs of the electrical construction industry. Whether it’s power generation, grid modernization, cutting-edge data center projects, or clean energy installations, electrical contractors are at the forefront of America’s infrastructure evolution. This legislation gives our contractors the certainty they need to plan, invest, and grow.”
American Hotel & Lodging Association President and CEO Rosanna Maietta: “This is a win for Main Street businesses. We commend lawmakers for including critical tax provisions in the budget reconciliation bill that will prevent a tax increase on American workers and the small businesses that are the backbone of America’s hotel and lodging industry. This is a critical step to stave off the expiration of important tax provisions that will provide our members, the majority of whom are small business owners, the level of certainty they need to effectively operate their businesses. We urge the U.S. Senate to swiftly pass this legislation and send it to President Trump’s desk.”
National Pork Producers Council President Duane Stateler: “America’s pork producers are one step closer to more certainty with the House’s reconciliation bill passage, which includes necessary legislation to keep farms afloat during uncertain times.”
Associated Equipment Distributors President and CEO Brian P. McGuire: “AED commends House Speaker Mike Johnson and his leadership team for securing House passage of the budget reconciliation bill. This legislation delivers pro-growth tax policies, streamlines energy project approvals and strengthens surface transportation infrastructure investments. We look forward to working with the Senate to ensure final passage of this comprehensive package.”
American Federation for Children CEO Tommy Schultz: “We are grateful for the efforts of Speaker Johnson and Congressional leaders in both chambers who have stood up so far to ensure that President Trump’s goal of school choice for every family in every state becomes a reality. American parents deserve nothing less, and we will continue working to get school choice across the finish line as the Senate can deliver on a historic national school choice tax credit. Bringing school choice to every state will be a legacy item for the lawmakers who stand boldly behind parents. We will continue to stand with them to achieve this goal.”
National Federation of Independent Business SVP for Advocacy Adam Temple: “The One Big Beautiful Bill Act includes the most important thing Congress can do to help small businesses and their workers – increasing and making the Small Business Deduction permanent. The bill also provides a tax cut for small business owners through lower individual rates, encourages new capital investments, and helps small business owners provide greater health care benefits to their employees. Members of Congress have a historic opportunity to provide over 33 million small business owners with permanent tax relief and NFIB strongly encourages them to do so.”
Growth Energy CEO Emily Skor: “We’re grateful to our champions on Capitol Hill who have worked hard to preserve and extend rural priorities, like the 45Z clean fuel production tax credit. This budget reconciliation package would give farmers and ethanol producers the freedom and flexibility to deliver for the American people. It ultimately delivers on the President’s agenda—it’s good for rural communities, good for innovation, good for investment, and good for American energy dominance.”
Americans for Prosperity Chief Government Affairs Officer Brent Gardner: “On behalf of our network of grassroots activists and small business owners nationwide, AFP congratulates Speaker Johnson, Majority Leader Scalise, Whip Emmer, and all the committee chairs for shepherding this legislation through the U.S. House of Representatives. Thanks to the efforts of policy champions across the House GOP conference, we are one step closer to giving Americans the pro-growth tax policy they voted for in November. Beyond cementing the foundation for a post-Biden economic recovery, we are poised to embrace an all-of-the-above approach to U.S. energy production, and finally secure our southern border.”
National Foreign Trade Council Vice President for International Tax Policy Anne Gordon: “We would like to once again thank Chairman Smith and the Ways & Means Committee and staff for their tireless work on this bill and Speaker Johnson and the leadership team for their efforts to bring critical U.S. tax legislation one step closer to becoming a reality. We congratulate the House on passing the One, Big, Beautiful Bill and urge the Senate to take up work on it as quickly as possible.”
American Land Title Association CEO Diane Tomb: “We commend the House for passing legislation that recognizes the needs of American small businesses, including the thousands of title and settlement companies ALTA represents. The expanded deduction under Section 199A is a welcome step that supports the long-term health of our small business members and the communities they serve. ALTA is especially pleased to see the preservation of Section 1031 like-kind exchanges, which play a vital role in fueling real estate investment, promoting property improvements and driving local economic growth. Provisions supporting homeownership, including those related to mortgage interest and capital gains exclusions, help provide certainty for buyers, sellers and lenders alike—strengthening the entire housing ecosystem. We urge the Senate to build on this momentum and protect the real estate and housing incentives that help Americans build wealth, promote generational stability and drive our economy forward.”
NRA Institute for Legislative Action Executive Director John Commerford: “This morning, the U.S. House of Representatives passed President Trump’s One, Big, Beautiful Bill, which includes the complete removal of suppressors from the National Firearms Act (NFA). This represents a monumental victory for Second Amendment rights, eliminating burdensome regulations on the purchase of critical hearing protection devices. The NRA thanks the House members who supported this bill and urges its swift passage in the U.S. Senate.”
RATE Coalition Executive Director Dan Combs: “Today’s vote is an historic step toward securing a tax code that rewards investment, supports job growth, and puts American workers first. This legislation builds on the success of the Tax Cuts and Jobs Act, preserving the policies that have helped drive wages up, unemployment down, and investment back into the U.S. economy. The House has done its part to move this forward. Now it’s time to keep that momentum going and get this across the finish line.”
Independent Women’s Center for Economic Opportunity Director Patrice Onwuka: “BOOM. Tax cuts, welfare reforms, green spending cuts, and border strengthening. Major credit is due to @SpeakerJohnson for getting @potus @realDonaldTrump #OneBigBeautifulBill through the House. He has proven to be a quiet force for conservatives. Now onto the Senate.”
Missouri Farm Bureau President Garrett Hawkins: “Our organization remains firmly committed to bringing the next generation home to rural Missouri. The legislation as passed contains top-tier Missouri Farm Bureau priorities to do just that, including making permanent several critical tax provisions such as an increased estate tax exemption, increasing access to Section 179 expensing, and ensuring continued use of key tools such as cash accounting, business interest deductions, and expensing for farms and small businesses. Additionally, the bill contains critical updates to the current farm safety net, including a reference price increase under farm bill programs and updates to dairy margin coverage. We are pleased to see several provisions related to promoting affordable, reliable and domestically produced energy and biofuels contained in the legislation. All of these things together, we believe, will help build a stronger and more resilient rural economy for our children and grandchildren to call home.”
Georgia Commissioner of Agriculture Tyler J. Harper: “President Trump’s Big Beautiful Bill is a much-needed win for Georgia Farmers and American Agriculture after four years of failure under President Biden. I am grateful to every Georgia member who voted in favor, and I urge Senators Ossoff and Warnock to put partisan politics aside and support this critical legislation.”
Revenue grows 23% year-over-year to $678.0 million
Calculated billings grows 25% year-over-year to $784.5 million
Deferred revenue grows 26%year-over-year to $1,985.0 million
GAAP net loss of $4.1 million compared to GAAP net income of $19.1 million on a year-over-year basis
Non-GAAP net income of $136.8 million compared to non-GAAP net income of $113.0 million on a year-over-year basis
SAN JOSE, Calif., May 29, 2025 (GLOBE NEWSWIRE) — Zscaler, Inc. (Nasdaq: ZS), the leader in cloud security, today announced financial results for its third quarter of fiscal year 2025, ended April 30, 2025.
“We delivered outstanding Q3 results as an increasing number of customers adopt our expanding Zero Trust Exchange platform. We enable customers to realize Zero Trust Everywhere while lowering operational cost and complexity,” said Jay Chaudhry, Chairman and CEO of Zscaler. “The proliferation of AI in all aspects of business is increasing the need for our AI security. We empower customers to securely adopt both public GenAI apps and their own private AI apps, and we are increasing our investments in this area.”
ThirdQuarter Fiscal 2025 Financial Highlights
Revenue: $678.0 million, an increase of 23% year-over-year.
Income (loss) from operations: GAAP loss from operations was $25.4 million, or 4% of revenue, compared to $3.0 million, or 1% of revenue, in the third quarter of fiscal 2024. Non-GAAP income from operations was $146.7 million, or 22% of revenue, compared to $121.8 million, or 22% of revenue, in the third quarter of fiscal 2024.
Net income (loss): GAAP net loss was $4.1 million, compared to GAAP net income of $19.1 million in the third quarter of fiscal 2024. Non-GAAP net income was $136.8 million, compared to $113.0 million in the third quarter of fiscal 2024.
Net income (loss) per share, diluted: GAAP net loss per share was $0.03, compared to GAAP net income per share of $0.12 in the third quarter of fiscal 2024. Non-GAAP net income per share was $0.84, compared to $0.71 in the third quarter of fiscal 2024.
Cash flows: Cash provided by operations was $211.1 million, or 31% of revenue, compared to $173.4 million, or 31% of revenue, in the third quarter of fiscal 2024. Free cash flow was $119.5 million, or 18% of revenue, compared to $123.1 million, or 22% of revenue, in the third quarter of fiscal 2024.
Deferred revenue: $1,985.0 million as of April 30, 2025, an increase of 26% year-over-year.
Cash, cash equivalents and short-term investments: $3,005.6 million as of April 30, 2025, an increase of $595.9 million from July 31, 2024.
Recent Business Highlights
Announced the appointment of Kevin Rubin as Chief Financial Officer. Rubin brings over two decades of experience leading finance organizations at high-growth public and private companies.
Announced the appointment of Raj Judge to the Board of Directors, and as EVP of Corporate Strategy & Ventures. Judge brings over 25 years of experience in the tech legal and venture capital space.
In May 2025, signed a definitive agreement to acquire Red Canary, a leading managed detection and response (MDR) vendor. By combining Zscaler’s high-volume and high-quality data with Red Canary’s domain expertise in MDR, Zscaler will accelerate its vision to deliver AI-powered security operations.
Recognized as a Leader in the 2025 Gartner® Magic Quadrant™ for Security Service Edge (SSE) for the fourth year in a row.
Positioned as a Leader in the IDC MarketScape: Worldwide Data Loss Prevention (DLP) 2025 Vendor Assessment, which offers a comprehensive evaluation of nine companies in the competitive DLP space based on detailed analysis of vendor capabilities and performance and market trajectories.
Introduced Zscaler Asset Exposure Management, a critical foundation of the company’s broader Continuous Threat Exposure Management (CTEM) offerings. Asset Exposure Management provides organizations with a comprehensive and accurate inventory of their assets and their risk.
Zscaler’s ThreatLabz published several research reports, including the 2025 AI Security Report, the 2025 VPN Risk Report, and the 2025 Phishing Report.
The 2025 AI Security Report found that enterprises’ usage of AI/ML tools increased by over 3,000% in the past year, reinforcing the need to deploy Zero Trust Everywhere to stay ahead of rapidly evolving cyberthreats.
The 2025 VPN Risk Report found that 92% of organizations are concerned about ransomware attacks due to VPN vulnerabilities, and 81% of organizations are planning to implement a zero trust everywhere strategy.
The 2025 Phishing Report found that attackers are using GenAI to launch targeted attacks against high-impact business functions like HR and finance, making a Zero Trust + AI defense strategy mission critical for organizations.
Announced T-Mobile modernized its infrastructure with Zscaler’s Zero Trust Exchange to provide Zero Trust security to its employees and team members whether they are in the office, at home or on the go.
Announced the inclusion of Zscaler solutions in the AWS Marketplace for the U.S. Intelligence Community (ICMP), a curated digital catalog from Amazon Web Services (AWS) that makes it easy to discover, purchase, and deploy software packages and applications from vendors that specialize in supporting government customers.
Change in Non-GAAP Measures Presentation
Effective August 1, 2024, the beginning of our fiscal year ending July 31, 2025, we are using a long-term projected non-GAAP tax rate of 23% for the purpose of determining our non-GAAP net income and non-GAAP net income per share to provide better consistency across interim reporting periods in fiscal 2025 and beyond. Given the significant growth of our business and non-GAAP operating income, we believe this change is necessary to better reflect the performance of our business. We will continue to assess the appropriate non-GAAP tax rate on a regular basis, which could be subject to changes for a variety of reasons, including the rapidly evolving global tax environment, significant changes in our geographic earnings mix, or other changes to our strategy or business operations. Prior period amounts have been recast to reflect this change.
Financial Outlook
For the fourth quarter of fiscal 2025, we expect:
Revenue of $705 million to $707 million
Non-GAAP income from operations of $152 million to $154 million
Non-GAAP net income per share of approximately $0.79 to $0.80, assuming approximately 164 million fully diluted shares outstanding and a non-GAAP tax rate of 23%
For the full year of fiscal 2025, we expect:
Revenue of approximately $2.659 billion to $2.661 billion
Calculated billings of $3.184 billion to $3.189 billion
Non-GAAP income from operations of $573 million to $575 million
Non-GAAP net income per share of $3.18 to $3.19, assuming approximately 163 million fully diluted shares outstanding and a non-GAAP tax rate of 23%
These statements are forward-looking and actual results may differ materially. Refer to the Forward-Looking Statements safe harbor below for information on the factors that could cause our actual results to differ materially from these forward-looking statements.
Guidance for non-GAAP income from operations excludes stock-based compensation expense and related employer payroll taxes, amortization of debt issuance costs, and amortization expense of acquired intangible assets. We have not reconciled our expectations of non-GAAP income from operations and non-GAAP net income per share to their most directly comparable GAAP measures because certain items are out of our control or cannot be reasonably predicted. For those reasons, we are also unable to address the probable significance of the unavailable information, the variability of which may have a significant impact on future results. Accordingly, a reconciliation for the guidance for non-GAAP income from operations and non-GAAP net income per share is not available without unreasonable effort.
For further information regarding why we believe that these non-GAAP measures provide useful information to investors, the specific manner in which management uses these measures, and some of the limitations associated with the use of these measures, please refer to the “Explanation of Non-GAAP Financial Measures” section of this press release.
Conference Call and Webcast Information
Zscaler will host a conference call for analysts and investors to discuss its third quarter of fiscal 2025 and outlook for its fourth quarter of fiscal 2025 and full year fiscal 2025 today at 1:30 p.m. Pacific time (4:30 p.m. Eastern time).
To join by phone, register at the following link: (https://register-conf.media-server.com/register/BIa63048e1e74d49ad9d61c0370b786cbb. After registering, you will be provided with a dial-in number and a personal PIN that you will need to join the call.
Upcoming Conferences
Fourth quarter of fiscal 2025 investor conference participation schedule:
Bank of America 2025 Global Technology Conference in San Francisco Thursday, June 5, 2025
2025 BMO Virtual Software Conference (Virtual) Monday, June 9, 2025
Sessions which offer a webcast will be available on the Investor Relations section of the Zscaler website at https://ir.zscaler.com/
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, including, but not limited to, statements regarding our future financial and operating performance, including our financial outlook for the fourth quarter of fiscal 2025 and full year fiscal 2025. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including but not limited to: macroeconomic influences and instability, geopolitical events, operations and financial results and the economy in general; risks related to the use of AI in our platform; our ability to identify and effectively implement the necessary changes to address execution challenges; risks associated with managing our rapid growth, including fluctuations from period to period; our limited experience with new products and subscriptions and support introductions and the risks associated with new products and subscription and support offerings, including the discovery of software bugs; our ability to attract and retain new customers; the failure to timely develop and achieve market acceptance of new products and subscriptions as well as existing products and subscription and support; rapidly evolving technological developments in the market for network security products and subscription and support offerings and our ability to remain competitive; length of sales cycles; useful lives of our assets and other estimates; and general market, political, economic and business conditions.
Additional risks and uncertainties that could affect our financial results are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” set forth from time to time in our filings and reports with the Securities and Exchange Commission (“SEC”), including our Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2025 filed on March 10, 2025 and our Annual Report on Form 10-K for the fiscal year ended July 31, 2024 filed on September 12, 2024, as well as future filings and reports by us, copies of which are available on our website at ir.zscaler.com and on the SEC’s website at www.sec.gov. You should not rely on these forward-looking statements, as actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
Use of Non-GAAP Financial Information
We believe that the presentation of non-GAAP financial information provides important supplemental information to management and investors regarding financial and business trends relating to our financial condition and results of operations. For further information regarding why we believe that these non-GAAP measures provide useful information to investors, the specific manner in which management uses these measures, and some of the limitations associated with the use of these measures, please refer to the “Explanation of Non-GAAP Financial Measures” section of this press release.
About Zscaler
Zscaler (Nasdaq: ZS) accelerates digital transformation so customers can be more agile, efficient, resilient, and secure. The Zscaler Zero Trust Exchange™ platform protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications in any location. Distributed across more than 160 data centers globally, the SASE-based Zero Trust Exchange is the world’s largest in-line cloud security platform.
Zscaler™ and the other trademarks listed at https://www.zscaler.com/legal/trademarks are either (i) registered trademarks or service marks or (ii) trademarks or service marks of Zscaler, Inc. in the United States and/or other countries. Any other trademarks are the properties of their respective owners.
Less: Antidilutive impact of capped call transactions (4)
(1,946
)
(2,050
)
(1,656
)
(1,539
)
Weighted-average shares used in computing non-GAAP net income per share, diluted
163,401
159,657
162,782
159,338
___________
(1) Effective August 1, 2024, the beginning of our fiscal year ending July 31, 2025, we are using a long-term projected non-GAAP tax rate of 23% for the purpose of determining our non-GAAP net income and non-GAAP net income per share to provide better consistency across interim reporting periods in fiscal 2025 and beyond. Given the significant growth of our business and non-GAAP operating income, we believe this change is necessary to better reflect the performance of our business. We will continue to assess the appropriate non-GAAP tax rate on a regular basis, which could be subject to changes for a variety of reasons, including the rapidly evolving global tax environment, significant changes in our geographic earnings mix, or other changes to our strategy or business operations. Prior period amounts have been recast to reflect this change.
(2) Consists of income tax adjustments related to our long-term non-GAAP effective tax rate of 23%. In the three and nine months ended April 30, 2025, we recognized a tax benefit of $0.2 million and $17.4 million, respectively, attributable to the release of the valuation allowance on U.K. deferred tax assets.
(3) The sum of the fully diluted earnings per share impact of individual reconciling items may not total to fully diluted non-GAAP net income per share due to the weighted-average shares used in computing the GAAP net loss per share differs from the weighted-average shares used in computing the non-GAAP net income per share, and due to rounding of the individual reconciling items. The GAAP net loss per share calculation uses a lower share count as it excludes potentially dilutive shares, which are included in calculating the non-GAAP net income per share.
(4) We exclude the in-the-money portion of the convertible senior notes for non-GAAP weighted-average diluted shares as they are covered by our capped call transactions. Our outstanding capped call transactions are antidilutive under GAAP but are expected to mitigate the dilutive effect of the convertible senior notes and therefore are included in the calculation of non-GAAP diluted shares outstanding. The capped calls have an antidilutive impact when the average stock price of our common stock in a given period is higher than their exercise price.
ZSCALER, INC.
Reconciliation of GAAP to Non-GAAP Financial Measures
(in thousands, except percentages)
(unaudited)
Three Months Ended
Nine Months Ended
April 30,
April 30,
2025
2024
2025
2024
Calculated Billings
Revenue
$
678,034
$
553,201
$
1,953,889
$
1,574,903
Add: Total deferred revenue, end of period
1,984,985
1,577,014
1,984,985
1,577,014
Less: Total deferred revenue, beginning of period
(1,878,505
)
(1,502,175
)
(1,894,974
)
(1,439,676
)
Calculated billings
$
784,514
$
628,040
$
2,043,900
$
1,712,241
Free Cash Flow
Net cash provided by operating activities
$
211,081
$
173,414
$
721,849
$
576,289
Less: Purchases of property, equipment and other assets
(72,163
)
(35,651
)
(104,206
)
(95,204
)
Less: Capitalized internal-use software
(19,455
)
(14,637
)
(62,871
)
(32,453
)
Free cash flow
$
119,463
$
123,126
$
554,772
$
448,632
Free Cash Flow Margin
Net cash provided by operating activities, as a percentage of revenue
31
%
31
%
37
%
37
%
Less: Purchases of property, equipment and other assets, as a percentage of revenue
(10
)%
(6
)%
(6
)%
(6
)%
Less: Capitalized internal-use software, as a percentage of revenue
(3
)%
(3
)%
(3
)%
(3
)%
Free cash flow margin
18
%
22
%
28
%
28
%
ZSCALER, INC. Explanation of Non-GAAP Financial Measures
In addition to our results determined in accordance with generally accepted accounting principles in the United States of America (“GAAP”), we believe the following non-GAAP measures are useful in evaluating our operating performance. We use the following non-GAAP financial information to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance. However, non-GAAP financial information is presented for supplemental informational purposes only, as it has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. In particular, free cash flow is not a substitute for cash provided by operating activities. Additionally, the utility of free cash flow as a measure of our liquidity is further limited as it does not represent the total increase or decrease in our cash balance for a given period. In addition, other companies, including companies in our industry, may calculate similarly titled non-GAAP measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. A reconciliation of our historical non-GAAP financial measures to their most directly comparable financial measures stated in accordance with GAAP has been included in this press release. Investors are cautioned that there are a number of limitations associated with the use of non-GAAP financial measures and key metrics as analytical tools. Investors are encouraged to review these reconciliations, and not to rely on any single financial measure to evaluate our business.
Expenses Excluded from Non-GAAP Measures
Stock-based compensation expense is excluded primarily because it is a non-cash expense that management believes is not reflective of our ongoing operational performance. Employer payroll taxes related to stock-based compensation, which is a cash expense, are excluded because these are tied to the timing and size of the exercise or vesting of the underlying equity incentive awards and the price of our common stock at the time of vesting or exercise, which may vary from period to period independent of the operating performance of our business. Amortization expense of acquired intangible assets and amortization of debt issuance costs from the convertible senior notes are excluded because these are non-cash expenses and are not reflective of our ongoing operational performance.
Effective August 1, 2024, the beginning of our fiscal year ending July 31, 2025, we are using a long-term projected non-GAAP tax rate of 23% for the purpose of determining our non-GAAP net income and non-GAAP net income per share to provide better consistency across interim reporting periods. Given the significant growth of our business and non-GAAP operating income, we believe this change is necessary to better reflect the performance of our business. We will continue to assess the appropriate non-GAAP tax rate on a regular basis, which could be subject to changes for a variety of reasons, including the rapidly evolving global tax environment, significant changes in our geographic earnings mix, or other changes to our strategy or business operations. Prior period amounts have been recast to reflect this change.
Non-GAAP Financial Measures
Non-GAAP Gross Profit and Non-GAAP Gross Margin. We define non-GAAP gross profit as GAAP gross profit excluding stock-based compensation expense and related employer payroll taxes and amortization expense of acquired intangible assets. We define non-GAAP gross margin as non-GAAP gross profit as a percentage of revenue.
Non-GAAP Income from Operations and Non-GAAP Operating Margin. We define non-GAAP income from operations as GAAP loss from operations excluding stock-based compensation expense and related employer payroll taxes and amortization expense of acquired intangible assets. We define non-GAAP operating margin as non-GAAP income from operations as a percentage of revenue.
Non-GAAP Net Income per Share, Diluted. We define non-GAAP net income as GAAP net income (loss) excluding stock-based compensation expense and related employer payroll taxes, amortization expense of acquired intangible assets, amortization of debt issuance costs, and the non-GAAP provision for income taxes adjustment. We define non-GAAP net income per share, diluted, as non-GAAP net income plus the non-GAAP interest expense related to the convertible senior notes divided by the weighted-average diluted shares outstanding, which includes the effect of potentially diluted common stock equivalents outstanding during the period and the anti-dilutive impact of the capped call transactions entered into in connection with the convertible senior notes.
Calculated Billings. We define calculated billings as revenue plus the change in deferred revenue in a period. Calculated billings in any particular period aims to reflect amounts invoiced for subscriptions to access our cloud platform, together with related support services for our new and existing customers. We typically invoice our customers annually in advance, and to a lesser extent quarterly in advance, monthly in advance or multi-year in advance.
Free Cash Flow and Free Cash Flow Margin. We define free cash flow as net cash provided by operating activities less purchases of property, equipment and other assets and capitalized internal-use software. We define free cash flow margin as free cash flow divided by revenue. We believe that free cash flow and free cash flow margin are useful indicators of liquidity that provide information to management and investors about the amount of cash generated from our operations that, after the investments in property, equipment and other assets and capitalized internal-use software, can be used for strategic initiatives.
LOS ANGELES, May 29, 2025 (GLOBE NEWSWIRE) — RBB Bancorp (NASDAQ: RBB) and its subsidiaries, Royal Business Bank (“the Bank”) and RBB Asset Management Company (“RAM”), collectively referred to herein as “the Company”, announced that its Board of Directors authorized a stock repurchase plan providing for the repurchase of up to $18 million of the Company’s outstanding common stock through June 30, 2026.
The repurchase plan permits shares to be purchased in open market or private transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rules 10b5-1 and 10b-18 of the Securities and Exchange Commission. The authorized repurchase plan may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The repurchase plan does not obligate the Company to purchase any particular number of shares.
Corporate Overview
RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California. As of March 31, 2025, the Company had total assets of $4.0 billion. Its wholly-owned subsidiary, Royal Business Bank, is a full service commercial bank, which provides consumer and business banking services predominately to Asian-centric communities through 24 full-service branches across 6 states including California, Nevada, New York, New Jersey, Illinois, and Hawaii. Bank services include remote deposit, E-banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, commercial and industrial loans, SBA 7A and 504 loans, 1-4 single family residential loans, trade finance, a full range of depository account products and wealth management services. The Bank has nine branches in Los Angeles County, two branches in Ventura County, one branch in Orange County, California, one branch in Las Vegas, Nevada, three branches and one loan operation center in Brooklyn, three branches in Queens, one branch in Manhattan in New York, one branch in Edison, New Jersey, two branches in Chicago, Illinois, and one branch in Honolulu, Hawaii. The Company’s administrative and lending center is located at 1055 Wilshire Blvd., Los Angeles, California 90017, and its operations center is located at 7025 Orangethorpe Ave., Buena Park, California 90621. The Company’s website address is www.royalbusinessbankusa.com.
Safe Harbor
Certain matters set forth herein (including the exhibits hereto) constitute forward-looking statements relating to the Company’s current business plans and expectations and our future financial position and operating results. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. These risks and uncertainties include, but are not limited to, the effectiveness of the Company’s internal control over financial reporting and disclosure controls and procedures; the potential for additional material weaknesses in the Company’s internal controls over financial reporting or other potential control deficiencies of which the Company is not currently aware or which have not been detected; business and economic conditions generally and in the financial services industry, nationally and within our current and future geographic markets, including the tight labor market, ineffective management of the United States (“U.S.”) federal budget or debt or turbulence or uncertainly in domestic or foreign financial markets; the strength of the U.S. economy in general and the strength of the local economies in which we conduct operations; adverse developments in the banking industry highlighted by high-profile bank failures and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments; possible additional provisions for credit losses and charge-offs; credit risks of lending activities and deterioration in asset or credit quality; extensive laws and regulations and supervision that we are subject to, including potential supervisory action by bank supervisory authorities; compliance with the Bank Secrecy Act and other money laundering statutes and regulations; potential goodwill impairment; liquidity risk; failure to comply with debt covenants; fluctuations in interest rates; risks associated with acquisitions and the expansion of our business into new markets; inflation and deflation; real estate market conditions and the value of real estate collateral; the effects of having concentrations in our loan portfolio, including commercial real estate and the risks of geographic and industry concentrations; environmental liabilities; our ability to compete with larger competitors; our ability to retain key personnel; successful management of reputational risk; severe weather, natural disasters, earthquakes, fires, including direct and indirect costs and impacts on clients, the Company and its employees from the January 2025 Los Angeles County wildfires; geopolitical conditions, including acts or threats of terrorism, actions taken by the U.S. or other governments in response to acts or threats of terrorism and/or military conflicts, including the conflicts between Russia and Ukraine, in the Middle East, and increasing tensions between China and Taiwan, which could impact business and economic conditions in the U.S. and abroad; tariffs, trade policies, and related tensions, which could impact our clients, specific industry sectors, and/or broader economic conditions and financial market; public health crises and pandemics, and their effects on the economic and business environments in which we operate, including our credit quality and business operations, as well as the impact on general economic and financial market conditions; general economic or business conditions in Asia, and other regions where the Bank has operations; failures, interruptions, or security breaches of our information systems; climate change, including any enhanced regulatory, compliance, credit and reputational risks and costs; cybersecurity threats and the cost of defending against them; our ability to adapt our systems to the expanding use of technology in banking; risk management processes and strategies; the impact of regulatory enforcement actions, if any; certain provisions in our charter and bylaws that may affect acquisition of the Company; changes in tax laws and regulations; the impact of governmental efforts to restructure the U.S. financial regulatory system and increased costs of compliance and other risks associated with changes in regulation, including any amendments to the Dodd-Frank Wall Street Reform and Consumer Protection Act; the impact of changes in the Federal Deposit Insurance Corporation (“FDIC”) insurance assessment rate and the rules and regulations related to the calculation of the FDIC insurance assessments; the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time-to-time by bank regulatory agencies, the SEC, the Public Company Accounting Oversight Board, the Financial Accounting Standards Board or other accounting standards setters; fluctuations in the Company’s stock price; restrictions on dividends and other distributions by laws and regulations and by our regulators and our capital structure; our ability to raise additional capital, if needed, and the potential resulting dilution of interests of holders of our common stock; the soundness of other financial institutions; our ongoing relations with our various federal and state regulators, including the SEC, FDIC, FRB and California Department of Financial Protection and Innovation; our success at managing the risks involved in the foregoing items and all other factors set forth in the Company’s public reports, including its Annual Report as filed under Form 10-K for the year ended December 31, 2024, and particularly the discussion of risk factors within that document. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements except as required by law. Any statements about future operating results, such as those concerning accretion and dilution to the Company’s earnings or shareholders, are for illustrative purposes only, are not forecasts, and actual results may differ.
New York, May 29, 2025 (GLOBE NEWSWIRE) — Color Star Technology Co., Ltd. (Nasdaq: ADD) (“Color Star” or the “Company”), a global entertainment technology company specializing in the integration of artificial intelligence and technology in the entertainment industry, today announced a significant milestone in the company’s new cryptocurrency mining business.
The Company has deployed 10,000 Bitmain Antminer T21 rigs at the facility in Kazakhstan, positioning Color Star as a significant emerging player in the global Bitcoin mining landscape. During its first month of operation in April, the cryptocurrency mining farm generated approximately 29 Bitcoins (BTC).
Color Star will continue to monitor the performance of its mining operations and the broader cryptocurrency market to determine its strategic decisions. The Company remains committed to maximizing returns on investment and delivering long-term value to its shareholders through operational efficiency and technological advancement.
About Color Star Technology Co., Ltd. Color Star Technology Co., Ltd. (Nasdaq: ADD) is an entertainment and education company that provides online entertainment performances and online music education services. Its business operations are conducted through its wholly-owned subsidiaries, Color Metaverse Pte. Ltd. and CACM Group NY, Inc. The Company’s online education is provided through its Color World music and entertainment education platform. The Company has also commenced operations in its new cryptocurrency mining business. More information about the Company can be found at www.colorstarinternational.com and www.colorstar.investorroom.com.
Forward-Looking Statements This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantee of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development, including the development of the metaverse project; product and service demand and acceptance; changes in technology; economic conditions; the growth of the educational and training services market internationally where ADD conducts its business; reputation and brand; the impact of competition and pricing; government regulations; the ability of Color Star to meet NASDAQ listing standards in connection with the consummation of the transaction contemplated therein; and other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission by Color Star. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof unless required by applicable laws, regulations or rules.
Contact Color Star Investor Relations Office Number No. 1003, 9th Floor, 7 World Trade Center, Suite 4621 New York NY 10007 Office: (212) 410-5186 Email ir@colorstarinternational.com
Home Newsroom AG Labrador Joins Coalition Urging Meta to Address AI Sexual Exploitation Risks
BOISE — Attorney General Raúl Labrador has joined a coalition of 28 state attorneys general in demanding answers from Meta Platforms, Inc. after disturbing reports surfaced showing that Meta’s social media AI assistant, known as “Meta AI,” may expose children to sexually explicit content and allow adults to simulate the grooming of minors. “The reports concerning Meta’s AI exposing children to sexually explicit content and enabling virtual grooming are deeply alarming,” said Attorney General Labrador. “We are demanding immediate answers from Meta regarding these grave allegations. Protecting children from exploitation remains my top priority, and we expect Meta to take swift, decisive action to ensure their platforms are safe to use.” Meta AI, integrated across Instagram, Facebook, and WhatsApp, allows users to interact with synthetic personas through text, voice, and image exchanges. Some personas are created by Meta and impersonate celebrities like Kristen Bell or John Cena, while others are user-generated but approved and promoted by Meta. Recent investigative reporting has revealed that several Meta AI personas have engaged in graphic sexual conversations with users identifying as minors. In one case, a Meta-created persona using the voice of John Cena described a sexual encounter with a user posing as a 14-year-old girl and acknowledged its illegality. User-created underage personas were also implicated in facilitating pedophilic scenarios with adult-identifying users. The attorneys general are seeking answers to several urgent questions, including:
Whether Meta intentionally removed safeguards to allow sexual role-play, Whether any of these capabilities remain available on Meta’s social media platforms, and Whether Meta plans to halt access to sexual role-play on its platforms.
The letter gives Meta until June 10, 2025, to respond. Attorney General Labrador’s office has been at the forefront of protecting children from evolving digital threats. Last year, the Idaho Legislature passed House Bill 465 (2024), now Idaho Code Section 18-1507C, a forward-looking statute that criminalizes the production, distribution, receipt, possession, or access of visual representations of the sexual abuse of children created using generative AI or machine learning. This new law provides prosecutors with crucial tools to combat emerging forms of child exploitation.Attorney General Labrador joined South Carolina Attorney General Alan Wilson, who led the letter, along with the attorneys general from Alabama, Alaska, Arkansas, Florida, Georgia, Indiana, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Montana, Nebraska, New Hampshire, North Dakota, Ohio, Oklahoma, Pennsylvania, South Dakota, Tennessee, Texas, Utah, Virginia, West Virginia, and Wyoming. You can read the letter here.
Source: United States House of Representatives – Congressman Earl L Buddy Carter (GA-01)
Headline: Carter meets with Augusta University in support of telehealth funding
AUGUSTA – Rep. Earl L. “Buddy” Carter (R-GA) this week met with officials at Augusta University to discuss his advocacy for the Medical College of Georgia (MCG), including the $1 million he secured in FY23 to support the College’s Center for Digital Health.
From Left to Right: David Hess, MD, Dean of Medical College of Georgia; Rep. Buddy Carter (GA-01); and Matt Lyon, MD, Director of Medical College of Georgia
“Telehealth is vital for seniors and those in rural areas. I often say that we knew how important telehealth was before the pandemic, but we didn’t realize it until after. As a health care professional, I am a strong supporter of telehealth services and am proud of the work Augusta University is doing to bring this resource to more patients. When the government supports Augusta University, we support longer, healthier lives for Georgians,” said Rep. Carter.
“The investments Congressman Carter has helped secure for Augusta University are helping us tackle some of our state and country’s most urgent challenges. From pioneering research to combat the devastating fentanyl crisis to expanding health care access through innovative technology, this support enables us to fulfill our core mission: improving the lives of people across Georgia and beyond,” said Russell Keen, President of Augusta University. “These partnerships demonstrate how targeted federal investment can create meaningful change in communities, from cities to our most rural areas. We’re deeply grateful for his vision and continued commitment.”
“I was honored to meet with Congressman Carter and share more about MCG’s expanding impact across Georgia. MCG and AU are making strategic investments throughout the state, including a new four-year medical school campus in Savannah. Our medical school is committed to advancing medical education and health care access for all Georgians— and we are excited to share our progress with our legislative partners,” said David Hess, MD, Dean of the Medical College of Georgia.
“I am extremely grateful for Congressman Carter’s vital support of MCG’s Center for Digital Health. The funding he secured has helped integrate telemedicine training for the next generation of physicians. Through partnerships with rural Georgia hospitals, we’re now delivering critical care expertise to communities that need it most—allowing patients to receive advanced care closer to home. These investments and technologies can strengthen our rural health care network and are improving patient outcomes across Georgia,” said Dr. Matt Lyon, Director of the Medical College of Georgia’s Center for Digital Health.
For FY26, Rep. Carter submitted a $900,000 funding request to support the development of rapid fentanyl detection through Augusta University’s College of Science and Math.
LOS ANGELES – A federal grand jury indictment unsealed today charges a Russian national with leading a group of cyber criminals that developed and deployed the Qakbot malware that infected thousands of computers worldwide, installing ransomware and demanding payment from victims.
Rustam Rafailevich Gallyamov, 48, of Moscow, Russia, is charged with one count of conspiracy to commit computer fraud and abuse, and one count of conspiracy to commit wire fraud. He is believed to be in Russia and is not in custody.
In connection with the charges, the Justice Department filed today a civil forfeiture complaint against more than $24 million in cryptocurrency seized from Gallyamov over the course of the investigation. These actions are the latest step in an ongoing multinational effort by the United States, France, Germany, the Netherlands, Denmark, the United Kingdom, and Canada to combat cybercrime.
“The criminal charges and forfeiture case announced today are part of an ongoing effort with our domestic and international law enforcement partners to identify, disrupt, and hold accountable cybercriminals,” said United States Attorney Bill Essayli for the Central District of California. “The forfeiture action against more than $24 million in virtual assets also demonstrates the Justice Department’s commitment to seizing ill-gotten assets from criminals in order to ultimately compensate victims.”
“Today’s announcement of the Justice Department’s latest actions to counter the Qakbot malware scheme sends a clear message to the cybercrime community,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “We will not stop holding cybercriminals accountable, even over a course of years, and we will use every legal tool at our disposal to identify you, charge you, forfeit your ill-gotten gains, and disrupt your criminal activity.”
“Mr. Gallyamov’s bot network was crippled by the talented men and women of the FBI and our international partners in 2023, but he brazenly continued to deploy alternative methods to make his malware available to criminal cyber gangs conducting ransomware attacks against innocent victims globally,” said Akil Davis, the Assistant Director in Charge of the FBI’s Los Angeles Field Office. “The charges announced today exemplify the FBI’s commitment to relentlessly hold accountable individuals who target Americans and demand ransom, even when they live halfway across the world.”
According to the indictment, Gallyamov developed, deployed, and controlled the Qakbot malware beginning in 2008. From 2019 onward, Gallyamov allegedly used the Qakbot botnet to infect thousands of victim computers around the world to establish a network or “botnet” of infected computers. Once Gallyamov gained access to victim computers, he provided access to co-conspirators who infected the computers with ransomware, including Prolock, Dopplepaymer, Egregor, REvil, Conti, Name Locker, Black Basta, and Cactus. Gallyamov was paid a portion of the ransoms received from ransomware victims.
The announcement of charges today is the latest step taken by the Justice Department against the Qakbot conspiracy. In August 2023, a U.S.-led multinational operation disrupted the Qakbot botnet and malware. At that time, the Justice Department announced the seizure of illicit proceeds from Gallyamov, including more than 170 bitcoin and more than $4 million of USDT and USDC tokens.
According to the indictment, after the disruption and takedown of the Qakbot botnet, Gallyamov and his co-conspirators continued their criminal activities. Instead of a botnet, they allegedly used different tactics, including “spam bomb” attacks on victim companies, where co-conspirators would trick employees at those victim companies into granting access to computer systems. The indictment alleges that Gallyamov orchestrated spam bomb attacks against victims in the United States as recently as January 2025. It also alleges that Gallyamov and his co-conspirators deployed Black Basta and Cactus ransomware on victim computers.
On April 25, pursuant to a seizure warrant, the FBI seized additional illicit proceeds from Gallyamov, including more than 30 bitcoin and more than $700,000 of USDT tokens. Today, the Department filed a civil forfeiture complaint in the Central District of California against all the illicit proceeds seized from Gallyamov – worth more than $24 million as of today – to forfeit and ultimately return those funds to victims.
An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
If convicted, Gallyamov would face a statutory maximum sentence of 25 years in federal prison.
The investigation of Gallyamov was led by the FBI’s Los Angeles Field Office, which worked closely with investigators from Germany’s Bundeskriminalamt (BKA), the Netherlands National Police, the French Police Cybercrime Central Bureau, and Europol. The Justice Department’s Office of International Affairs and the FBI Milwaukee Field Office provided significant assistance.
The case against Gallyamov is being prosecuted by Assistant United States Attorneys Khaldoun Shobaki and Lauren Restrepo of the Cyber and Intellectual Property Crimes Section, and the Criminal Division’s Computer Crime and Intellectual Property Section (CCIPS) Senior Counsel Jessica Peck. Assistant United States Attorney James Dochterman of the Asset Forfeiture and Recovery Section is prosecuting the forfeiture case.
These law enforcement actions were taken in conjunction with Operation Endgame, an ongoing, coordinated effort among international law enforcement agencies aimed at dismantling and prosecuting cybercriminal organizations around the world.
Resources for victims can be found on the following website, which will be updated as additional information becomes available: Qakbot Resources.
