NewzIntel.com

Category: Finance

  • MIL-OSI: Nasdaq and QCP Set New Standard of Capital Efficiency by Connecting Canton Network to Nasdaq Calypso

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 26, 2025 (GLOBE NEWSWIRE) — Nasdaq (Nasdaq: NDAQ) today announced it has facilitated end-to-end margin and collateral workflows on the Canton Network, connecting the blockchain-based technology to Nasdaq Calypso. The use case was developed in partnership with QCP, Primrose Capital Management and Digital Asset, to demonstrate that the integration of on-chain capabilities alongside existing institutional workflows enhances collateral mobility across all asset classes for institutional market participants.

    Nasdaq Calypso is the leading technology platform used by financial institutions to seamlessly manage risk, margin, and collateral needs in an integrated environment. Its technology is uniquely positioned to serve the evolving demands of both traditional finance and emerging digital markets. Through the partnership on this use case, Nasdaq Calypso will expand its capabilities to support automated 24/7 margin and collateral management across a full spectrum of assets, including crypto derivatives, fixed income, exchange-traded derivatives, and over-the-counter derivatives.

    With this partnership, the companies are seeking to mature and scale the next generation of digital asset infrastructure. The use case represents a proof point that leveraging blockchain-based technology for collateral management allows financial institutions to meet the demands for real-time capital efficiency in an always-on financial ecosystem. It enables financial institutions to allocate capital more efficiently by mobilizing and redeploying previously locked up collateral across markets.

    Melvin Deng, CEO of QCP, said: “Partnering with a global technology leader like Nasdaq is a testament to our commitment to building the next generation of institutional-grade market infrastructure. This isn’t just a technological milestone, it’s a paradigm shift for capital efficiency. Automating collateral management on-chain allows us to offer our clients enhanced security, better pricing, and the ability to deploy capital 24/7 across both traditional and digital assets. QCP played a pivotal role in shaping the product design and market integration and will support Nasdaq on developing a new suite of OTC spot and derivatives products, setting a new standard for what’s possible in institutional digital assets.”

    Yuval Rooz, Co-Founder & CEO of Digital Asset, said: “This milestone with Nasdaq, QCP, and Primrose shows how Canton can meaningfully enhance institutional workflows. By automating margin and collateral processes on chain, firms gain real-time efficiency and control while maintaining data confidentiality through configurable privacy settings. It’s a major step toward harmonizing traditional and digital markets on a trusted, interoperable infrastructure.”

    Linus Ong, Chief Investment Officer, Primrose Capital Management, said: “Primrose operates at the intersection of quantitative trading and digital asset innovation. This integration empowers our fund to align our portfolio management and real-time risk management with institutional-grade on-chain infrastructure. It brings the discipline of quant finance to a 24/7 digital market.”

    Enhancing trust in the infrastructure and networks that underpin the digital asset ecosystem will also be critical to the long-term development of the asset class.

    Magnus Haglind, Head of Marketplace Technology, Nasdaq, said: “Capital market infrastructure and the emerging digital asset ecosystem are on the cusp of a generational shift as they converge with faster settlement and 24- hour trading, driving a new operational paradigm for market participants. Financial institutions need to improve real time risk management and mobilize collateral to optimize capital and liquidity deployment. We are excited to work with our clients to deliver improved capital efficiency through this innovative solution.”

    Through a comprehensive suite of digital asset products and services, Nasdaq is committed to supporting the evolution of the digital asset ecosystem by helping to drive resilience and integrity across the market.

    Nasdaq plans to advance its existing digital asset capabilities across its suite of capital market solutions, helping to drive institutional adoption of digital assets. Around the world, Nasdaq’s technology is used by 97% of global systematically important banks, half of the world’s top 25 stock exchanges, 35 central banks and regulatory authorities, and 3,800+ clients across the financial services industry. As a scaled platform partner, Nasdaq draws on deep industry experience, technology expertise, and cloud managed service experience to help financial services companies solve their toughest operational challenges while advancing industrywide modernization.

    About Nasdaq

    Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

    Media Contacts: 

    Andrew Hughes; +44 (0)7443 100896; Andrew.Hughes@nasdaq.com  
    Camille Stafford; +1 (234) 934 9513; Camille.Stafford@nasdaq.com

    -NDAQG-

    Cautionary Note Regarding Forward-Looking Statements:  

    Information set forth in this press release contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements can be identified by words such as “will”, “can” and other words and terms of similar meaning. Such forward-looking statements include, but are not limited to, statements related to the benefits of Nasdaq’s digital asset margin management technology. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These risks and uncertainties are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.  

    The MIL Network –

  • MIL-OSI: Tryg A/S – Q2 2025 pre-silent newsletter

    Source: GlobeNewswire (MIL-OSI)

    Tryg will conduct pre-close analyst calls and meetings starting on 26 June, ahead of the Q2 2025 results, which will be released on 11 July. This newsletter aims to inform capital market participants of the key factors influencing the company’s recent financial performance.

    Insurance revenue growth

    Tryg maintains a balanced distribution of insurance revenue across the Scandinavian countries, with approximately 50% of revenue generated in Denmark, 30% in Sweden, and 20% in Norway. In Q2 2024, Tryg reported insurance revenue of DKK 9,545m.

    The commercial segment will experience a smaller spillover effect into 2025 of the derisking of the corporate portfolio carried out in 2024. In general, the group revenue development remains in line with recent development. Tryg reported a growth measured in local currencies of 3.7% in Q1 2025.

    When converting earnings from local currencies to DKK, Tryg’s reporting currency, the expected average value of SEK 100 is DKK 68.5 (64.5 Q2 2024), and NOK 100 is DKK 64.5 (64.2 Q2 2024).

    Claims environment

    Underlying claims development
    Tryg operates a stable business and recent trends in underlying performance should thus be considered reliable indicators for short-term trends. The Group’s underlying claims ratio was 66.8% in Q2 2024. At the capital markets day (CMD) on 4 December 2024, Tryg mentioned that it expects a broadly stable to slightly improving underlying performance in the new strategy period towards 2027. In Q1 2025, the Group underlying claims ratio improved 30 basis points and the Private underlying claims ratio improved 10 basis points.

    Weather claims
    For Q2, normalised weather claims amount to 10% of the annual DKK 800m guidance, equating to DKK 80m. As a reminder, the annual expectation for weather claims is split as follows (in percentages terms): 40% in Q1, 10% in Q2, 20% in Q3 and 30% in Q4. At the time of writing, weather claims expectations for the quarter remain in line with the guidance for the second quarter of the year.

    Large claims
    On an annual basis, Tryg provides guidance for large claims amounting to DKK 800m, evenly distributed across quarters. Occasionally, information about large claims may be available in mass media or local press.

    Interest rates development
    For Q2, it is expected an approximate discount rate of 2.5%. The discounting percentage was reported at 2.3% in Q1 2025.

    Run-off expectations towards 2027
    At the 2024 CMD, Tryg stated a long-term run-off expectation of ~2% towards 2027.

    Investment activities

    Tryg has divided its investment activities into a match portfolio (approx. DKK 46bn at Q1 2025) and a free portfolio (approx. DKK 16bn as per Q1 2025). As announced at the 2024 CMD, the free portfolio was derisked during Q4 2024 and now mainly consists of Scandinavian covered bonds and government bonds (approx. DKK 12bn) and the real estate portfolio (approx. DKK 3bn). As a rule of thumb, the return on bonds can be modelled with the following Bloomberg tickers, 50% NYKRCMB2 and 50% NYKRCMG2. For the real estate portfolio, a normalised annual return of 6.5% is assumed. The buyback program of DKK 2bn started in December will impact the size of the free portfolio accordingly over the quarter.

    The return of the match portfolio mainly consists of the return on premium provisions, which is expected at DKK 75m per quarter with the current level of interest rates.

    Additionally, the line ‘Other financial income and expenses’ is guided at DKK -90m per quarter and mainly consists of costs related to currency hedges, general balance sheet items and costs related to running the investment operation.

    Other income and costs

    Other income and costs are originally guided between DKK -350m and DKK -370m on a quarterly basis. This is primarily driven by amortisation of intangibles related to the RSA Scandinavia acquisition. The intangibles are booked in SEK and converted to DKK (the reporting currency of Tryg). The SEK strengthening experienced this year (while positive for the insurance service result and thus the overall Group result) impacts this line negatively, and therefore an additional FX-related impact of approx. DKK 15m should be added to the original guidance.

    Number of shares

    At the end of Q1 2025, Tryg reported 607,059,826 outstanding shares. In the second quarter, Tryg bought back a total of 4,091,106 shares, thus lowering the number of outstanding shares during the quarter. The DKK 2bn share buyback programme ended on 19 June 2025.

    Outlook statement from annual report 2024

    Tryg reported an insurance service result, adjusted for the more favourable-than-normal large and weather claims outcome, of around DKK 7.2bn in 2024 and it is now targeting its highest ever insurance service result of DKK 8.0-8.4bn in 2027. The insurance service result is expected to increase gradually throughout the strategy period.

    As announced in the newsletter dated March 2025, please note that 2024 financials have been restated due to changed inflation hedging. The newsletter can be found here: https://tryg.com/en/downloads-2025

    Tryg will publish the Group’s Q2 results for 2025 on 11 July 2025 at around 7:30 CET.

    Conference call

    Tryg will host a conference call on the day of the release at 10:00 CET. CEO Johan Kirstein Brammer, CFO Allan Kragh Thaysen, CTO Mikael Kärrsten and SVP Gianandrea Roberti will present the results in brief, followed by a Q&A session.

    The conference call will be held in English.

    Date 11 July 2025
    Time 10:00 CET
    Dial-in numbers +45 (DK) 78 76 84 90

    +44 (UK) 203 769 6819

    +1 (US) 646 787 0157
    Pin code       560768

    You can sign up for an e-mail reminder on tryg.com. The conference call will also be broadcast on this site. An on-demand version will be available shortly after the conference call has ended.

    All Q2 2025 material can be downloaded on tryg.com shortly after the time of release.

    Attachment

    The MIL Network –

  • MIL-OSI Australia: Investigation into stolen plaques at Soldiers Memorial Avenue

    Source: New South Wales Community and Justice

    Investigation into stolen plaques at Soldiers Memorial Avenue

    Thursday, 26 June 2025 – 3:11 pm.

    Tasmania Police is calling for public assistance as officers investigate the theft of more than 20 brass plaques from the Soldiers Memorial Avenue at the Queens Domain, Hobart.
    The City of Hobart and Friends of Soldiers Memorial Avenue reported the incident to police on Wednesday afternoon, saying it appears the plaques – which honour fallen World War I Tasmanian soldiers – have been forcibly removed.
    Friends of Soldiers Memorial Avenue President John Wadsley, Tasmania Police Hobart Division Acting Inspector Danny Jackson and City of Hobart Deputy Lord Mayor Zelinda Sherlock inspected the avenue on Thursday.
    A/Inspector Jackson hoped members of the public might be able to provide information to find the people responsible and locate the plaques.
    “Whilst these plaques don’t have significant monetary value, they have significant value to the families of the people who have been memorialised here and we are very keen to locate the people responsible and have those plaques recovered,” he said.
    “It’s appalling that someone would come and take those plaques from here.
    “We’re hopeful that someone out there knows something about where these plaques are, or who may be responsible.”
    Soldiers Memorial Avenue is a significant heritage site, with more than 530 trees planted to honour Tasmanian soldiers who died in World War I. Each tree is marked with a plaque bearing the name of a fallen soldier.
    Mr Wadsley said the Friends of Soldiers Memorial Avenue had been working for more than 24 years to restore the walk, which was an important site of remembrance for Tasmanian families.
    “These are really important places. These represent not only the service of someone who died, but also the love of a family that lost someone,” he said.
    Mr Wadsley said the stolen plaques had little monetary value for their brass content but would take about $600 each to replace.
    Anyone with information about the theft of the plaques is asked to contact Tasmania Police on 131 444 or report it anonymously to Crime Stoppers on 1800 333 or crimestopperstas.com.au. Quote OR778508

    CAPTION: Friends of Soldiers Memorial Avenue President John Wadsley, left, with Tasmania Police Acting Inspector Hobart Division Danny Jackson at the site where one of the plaques remembering a fallen soldier is missing. (Picture: Tasmania Police)

    MIL OSI News –

  • MIL-OSI Australia: Income from leasing of real property

    Source: New places to play in Gungahlin

    Item

    Activity

    Responsibility

    Purpose

    4

    Repairs and maintenance (R&M)

    Receipts to be retained and maintained (by property) for all R&M expenditure. Where repairs are managed through the property manager, receipts to be furnished, downloaded and stored.

    R&M expenditure will be recorded in the Excel spreadsheet entitled ‘Rental property financial accounts” and be referenced to the relevant property, within 3 days of payment of the invoice. Accumulated totals should be maintained within the spreadsheet.

    Bill Bookkeeper

    Ensure records of Mr Simple’s investments in real property are not lost in the event primary information sources are compromised.

    5

    Interest expense

    Documentation regarding any external financing obtained to acquire or improve real property assets is to be retained. Documentation should include points explaining:

    • the date the finance was obtained
    • the purpose of obtaining finance
    • how the finance was applied, and
    • the applicable interest rate or other terms upon which the finance was obtained.

    Interest expenses are recorded in the Excel spreadsheet entitled ‘Rental property financial accounts’. Accumulated totals should be maintained within the spreadsheet.

    Bill Bookkeeper as informed by Simple groups lawyers or tax agents

    Support the John Simple property trust’s claim for interest deductions that are associated with the debt funding of its property portfolio (where and when required).

    6a

    Depreciation (Division 40)

    On initial acquisition of real property, a tax depreciation schedule will be obtained from a qualified valuer or quantity surveyor.

    Bill Bookkeeper and Simple group’s tax agents/advisors

    To help ensure that the John Simple property trust is using the correct tax cost bases when determining the amount it can claim as capital allowance

    6b

    The costs of existing and new depreciable assets held by the John Simple Property Trust are to be recorded on an Excel spreadsheet entitled ‘tax fixed asset register’ that includes:

    • a description of the asset
    • the date asset was ready for use
    • a calculation of the assets tax cost
    • the method and rate of depreciation applied to the asset
    • the capital allowance claim for the year
    • the assets closing cost.

    For purpose of calculating depreciation, use the Commissioner’s effective lives for depreciating assets guidance as published each year in the ATO’s Taxation Ruling.

    For all new depreciable capital assets that are acquired, receipts are to be maintained and referenced against the tax fixed asset register (including low value pools).

    Bill Bookkeeper and Simple group’s tax agents/advisors

    To support the John Simple property trust’s claim for capital allowance deductions in the year of income in which the claim is made.

    6c

    Where depreciable assets are disposed of, the tax fixed asset register will record:

    • the date of the disposal
    • sale price
    • the balancing income/loss recognised on disposal.

    Bill Bookkeeper and Simple group’s tax agents/advisors

    To help ensure that gains or losses on disposal of depreciable capital assets by the John Simple property trust are calculated correctly for tax purposes.

    7a

    Capital works (Division 43)

    Upon acquisition of an existing real property asset that’s not vacant land, a determination will be made about the percentage rate at which capital works deductions can be claimed.

    On initial acquisition of an existing real property, a tax depreciation or capital works schedule will be obtained from the property’s previous owners or obtained from a qualified quantity surveyor.

    Upon incurring new expenditure on capital works, a determination will be made about the percentage rate at which capital works deductions can be claimed.

    Note: Generally, the Simple group acquires assets for which the 2.5% rate is applied.

    Bill Bookkeeper and Simple group’s tax agents/advisors

    Ensure that the John Simple property trust’s is eligible to claim capital works deductions in respect to a particular property, the cost base by reference to which capital works deductions can be claimed and the percentage to be used when claiming capital works deductions each year.

    7b

    For new capital works, receipts should be retained and referenced against the tax fixed asset register.

    Details of new capital works are recorded on an Excel spreadsheet entitled ‘tax fixed asset register’ that includes a

    • description of the capital works
    • date the capital works were completed
    • cost of the capital works
    • percentage deduction rate applied (for example 2.5%)
    • deduction claimed for the year
    • closing balance of unclaimed construction expenditure at year end.

    Any complex issues concerning the application of, or calculations required by Division 43, should be escalated to the Simple group’s tax advisors.

    Bill Bookkeeper and Simple group’s tax agents/advisors

    Substantiate capital works deductions for the year. Help ensure compliance with the Simple group’s record keeping obligations.

    Support the John Simple property trust’s claim for capital works deductions.

    Accessing sophisticated levels of advice helps ensure complex issues with capital works claims are treated correctly.

    8

    Other expenses

    A list has been (or should be) prepared and retained that outline and explains typical expenses incurred by the John Simple property trust in the course of its property leasing activities.

    Accounting expenses should be recorded (by property) in the Excel spreadsheet entitled ‘Rental property financial accounts for the year ended 30 June 20XX’, within 3 days of the supplier invoice being received. Accumulated totals should be maintained within the spreadsheet.

    Bill Bookkeeper

    Ensuring typical expenses associated with each property portfolio are understood and explained – for succession planning.

    Support John Simple property trust’s claims for allowable deductions.

    9

    Prepaid expenses

    Where eligible expenditure has been prepaid, maintain records of prepayments. Prepare an accompanying note that explains the nature of the prepaid expenditure and relevant time period to which the expenditure relates (more or less than 12 months).

    Bill Bookkeeper

    Help with preparation of the John Simple property trust’s draft tax reconciliation.

    Support John Simple property trust’s claims for allowable deductions.

    10

    Before forwarding information to the Simple group’s tax agent, review the following spreadsheets and resources against a sample of documentation to sense check that income and expenses have been captured and correctly recorded.

    • Real Property Investment Register
    • List of typical expenses
    • Tax and accounting fixed asset register

    Bill Bookkeeper

    Helping ensure that Mr Simple’s income and expense disclosures are complete.

    11

    At least 4 weeks before the due date for lodgment of the John Simple property trust’s tax return, provide the Simple group’s tax agent with:

    • a summary narrative about the John Simple property trusts typical and atypical activities during the year
    • real property investment register
    • the property manager’s end of financial year summary statement for each property investment
    • excel rental property financial accounts
    • tax and accounting fixed asset registers
    • related source documents as required by the tax agent
    • notes concerning any prepaid expenses.

    Bill Bookkeeper

    Ensuring the John Simple property trust’s tax return is lodged on time.

    Helping the tax agent with the process of preparing the John Simple property trust’s tax return.

    MIL OSI News –

  • MIL-OSI USA: Cantwell on Senate Floor: “The Medicaid Expansion Literally Kept People Alive. We Should Not Reverse That.”

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell
    06.25.25
    Cantwell on Senate Floor: “The Medicaid Expansion Literally Kept People Alive. We Should Not Reverse That.”
    Shares story of five-year-old Leda Winterrose of Richland, who depends on Medicaid for life-sustaining medical supplies; Cantwell warns of higher premiums for everyone: “When you increase the cost of uncompensated care … you increase everyone’s cost.”
    WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation and a senior member of the Senate Finance Committee, urged her colleagues to vote against cuts to Medicaid that would effectively reverse the expansion of the program under the Affordable Care Act.
    “The Medicaid expansion literally kept people alive. We should not reverse that. We’ve made great progress in the past 15 years to keep Americans healthier and financially secure,” said Sen. Cantwell in a speech on the Senate floor. “Allowing 16 million people, including 306,000 people from the state of Washington, to become uninsured is a bad idea. Without any alternatives, this will be a shock to our health care system. It will bring it to the breaking point and threaten the very lives of our constituents.”
    Sen. Cantwell also read a letter from Britton Winterrose of Richland, WA, father to five-year-old girl Leda Winterrose.
    Leda was born with a rare sleep disorder. “If she falls asleep without oxygen, she simply stops breathing, and will die,” her father wrote Sen. Cantwell. Leda spent the first 45 days of her life in intensive care.
    “The only path out of the hospital was a Medicaid waiver that paid for in-home nursing and life-support equipment,” wrote Britton Winterrose. “Medicaid gave us the opportunity to bring her home, surrounded by her siblings, surrounded by the normalcy and safety of parents that love her.”
    Sen. Cantwell warned that the uncompensated care costs created by stripping insurance coverages from millions of Americans will hurt everyone’s pocketbooks: “Hospital providers will have to shoulder an additional $36 billion in uncompensated care costs, and a portion of the costs will be recouped by increased premiums on employment-based insurance coverage,” the Senator said. “As a result, people with employment-based insurance will also see an additional anywhere from [$182] to $485 in annual cost increases. That’s what happens when you increase the cost of uncompensated care, and the system has to make up for it somewhere, you increase everyone’s cost.”
    Medicaid, known as Apple Health in Washington state, covers over 1.9 million Washingtonians. Sen. Cantwell has held events across the state to hear about the impact of the proposed cuts on Washingtonians and released three reports detailing the cuts’ significant negative impacts.  
    On May 2, Sen. Cantwell released a snapshot report highlighting the impact that Medicaid cuts would have on Washington state’s highly-ranked long-term care system for seniors and people with disabilities. In February, she released a snapshot report that demonstrated how cuts would harm health care access in Washington state, and she followed up with a report in March that dove into impacts on the Puget Sound region. This week, the Senator released a fact sheet that warned of dire consequences for reproductive health care in Washington state if the Republican reconciliation bill is passed.
    Highlights of those snapshot reports include:
    In Washington state, WA-04 (Central Washington) and WA-05 (Eastern Washington) have the highest proportions of adults and total population on Medicaid (Apple Health). In District 4, 70% of children are on Medicaid.
    In the Puget Sound region, children in Seattle’s blue-collar strongholds would feel the deepest pain from Medicaid cuts. More than half of children in Burien, SeaTac, Kent, Federal Way, Auburn, Renton, and Rainier Valley depend on Medicaid.
    In an exclusive survey of 68 WA nursing homes, 67 of 68 would cut services if Medicaid were cut by 5% or more, and 65% would consider closing.
    Sen. Cantwell also toured the state to hear from folks who would be directly impacted by cuts to Medicare. Doctors, patients, and health care providers in Seattle, Spokane, the Tri-Cities, and Wenatchee warned that such cuts would devastate Washington state’s health care system and limit access to lifesaving care.
    On May 21, Sen. Cantwell joined Washington state health care professionals for a virtual press conference to highlight statewide alarm and opposition to proposed Medicaid cuts. That same day, 23 Republican members of the Washington state legislature sent a letter to the entire Washington state federal Congressional delegation, urging the delegation to “protect Medicaid funding for Washington State.”
    Video of Sen. Cantwell’s floor speech is HERE; a transcript is HERE.
    A full timeline of Sen. Cantwell’s actions to defend Medicaid from cuts is HERE.

    MIL OSI USA News –

  • MIL-OSI Australia: Income from shares in listed companies

    Source: New places to play in Gungahlin

    Tax issues for consideration

    The following table provides a list of tax issues requiring assurance in relation to income derived by a Top 500 group from investments in shares in listed companies. The table also provides examples of processes and procedures that could be developed by a Top 500 group to show that they have effective tax governance in place to manage each tax issue.

    Tax issues requiring assurance

    Tax issue

    Tax assurance considerations

    Tax governance considerations

    Record keeping – source documents

    Good record keeping supports the ATO’s ability to assure that Top 500 groups are paying, and will continue to pay, the correct amount of tax. Record keeping is also a requirement for under Division 121 and section 262A.

    The tax governance policy of the group should include procedures for:

    • maintaining a central repository for documentation that records the acquisition and disposal of listed share investments held by the group (including dates of acquisition and disposal, cost of acquisition, proceeds on sale)
    • maintaining a central repository for documentation that records:
      • dividend statements received by the group from its investments in listed shares
      • other corporate actions such as share splits, rights issues.

    Completeness of dividend income disclosures

    Has all dividend income from listed shares been identified and disclosed in the entity’s tax returns?

    The tax governance policy of the group should include procedures for:

    • ensuring that, when listed shares are acquired, that the relevant share registry services are notified of the holding entities TFN
    • correctly capturing and recording dividend income
    • where dividends are paid in cash, reconciling dividend payment advices with deposits into the group’s bank accounts
    • sense or cross-checking the completeness and accuracy of the group’s dividend income calculations
    • differentiating unfranked, partially franked and franked dividends
    • recording and adjusting (tax payable) for any TFN withholding withheld by the company paying the dividend.

    Dividend income is reported in the correct period

    Has dividend income from listed share investments been reported in the correct income year?

    The tax governance policy of the group should include procedures for:

    • specifying when dividend income is to be recognised for both accounting and tax purposes
    • ensuring any timing differences between accounting and tax treatments is captured on the recipient entity’s tax reconciliation.

    Franking credits are correctly reported

    Have franking credits attached to dividends from listed shares been correctly reflected in the recipient entity’s tax returns?

    The tax governance policy of the group should include procedures for:

    • ensuring the group entity that is in receipt of franked dividends satisfies the qualified person test (45 day holding and ‘at risk’ rules) with respect to the dividend
    • including franking credits in the relevant group entity’s assessable income
    • taking into account franking credits when calculating the recipient entity’s tax payable
    • ensuring that the balance of the group’s franking accounts correctly reflects franking debits and franking credits arising during the year
    • where required, and the eligibility requirements are met, converting excess franking credits into tax losses.

    Characterisation and calculation of capital gains and losses on the disposal of investments in listed shares.

    Has the vendor entity correctly characterised and reported gains and losses on the sale of investments in listed shares?

    The tax governance policy of the group should include procedures for:

    • classifying listed share investments held in the central repository as held on either revenue or capital account
    • correctly calculating capital gains or losses on sale of listed shares, including (but not limited to) the recognition of:
      • whether gains or losses are on capital (or revenue) account
      • cost base and proceeds
      • the vendor entity’s eligibility for the CGT discount
      • cost base adjustments from capital returns
      • brokerage fees
      • current and prior year capital losses
    • conducting a sample verification process of the numeric logic embedded in the books, software or spreadsheets used to do CGT calculations, to ensure that the logic is producing the correct outcomes.

    Correct reporting

    Has the entity who derived the dividend income or who made the capital gain or loss, reported correctly in their tax return?

    The tax governance policy of the group should include procedures for ensuring that dividend and capital gains tax information is migrated across from the working papers and correctly disclosed in the relevant entity’s tax return.

    Governance framework example

    To help in developing a written tax governance framework, we have prepared 2 examples that could be used to develop checklists that may help in managing dividend income as required under principle 2 of the 7 principles of effective tax governance

    Passive investors with simple affairs – checklist

    Group head: Mr John Simple

    Entity name: Mr John Simple

    Checklist: Dividend income and capital gains/losses

    Year end: 30 June 2022

    Record keeping – investments in listed shares and dividend income

    Item

    Activity

    Responsibility

    Purpose

    1

    The John Simple group shall maintain a central repository for documentation concerning:

    • the acquisition (including acquisition of shares through a Dividend Reinvestment Plan (DRP) or similar) and disposal of listed share investments held by Mr Simple
    • dividends received by Mr Simple from investments in listed shares
    • other corporate actions such as share splits and rights issues associated with Mr Simple’s investments in listed shares.

    Acquisitions (including acquisition of shares through a DRP or similar) and disposals of listed share investments including dates, number of shares acquired or sold, prices, and brokerage fees, should be recorded in the Excel spreadsheet entitled ‘Share Investment Register’ within 3 days of the date of acquisition or sale.

    Bill Bookkeeper

    Good record keeping practices over all of Mr Simple’s investments in listed shares.

    2

    At the end of each month back up electronic copies of documentation in the central repository and the share investment register to a plug-in hard drive, or memory stick.

    Bill Bookkeeper

    Ensure records of Mr Simple’s investments in listed shares are not lost in the event primary information sources are compromised.
    Correct reporting of dividend income

    Item

    Activity

    Responsibility

    Purpose

    3

    Share registries are to be notified of Mr Simple’s TFN and custodians are provided with details of the bank account through which Mr Simple finances his investments.

    Bill Bookkeeper

    Remove TFN withholding risk. Ensure cash dividends are received into the correct bank account.

    4

    The timing and amount of the dividend (including franking credits and dividends re-invested through a DRP) paid on each listed share investment held by Mr Simple should be recorded in the Excel spreadsheet entitled ‘Share Investment Register’, within 3 days of dividend statements being received. Accumulated totals should be maintained within the spreadsheet.

    Bill Bookkeeper

    Ensuring Mr Simple’s dividend income disclosure is complete and referable to the correct year of income.

    5

    The “Share Investment Register” is updated to include additional shares issued as part of Mr Simple’s choice to participate in a DRP.

    Bill Bookkeeper

    Ensuring new shares issued as part of a DRP are recorded as an asset acquired by Mr Simple.

    6

    Reconcile cash dividend payments deposited to Mr Simple’s investments bank account with dividend statements.

    Bill Bookkeeper

    Helping ensure Mr Simple’s dividend income disclosure is complete.

    7

    Before forwarding information to tax agent, review spreadsheet to sense-check listed share investments held against dividend statements received to verify that dividends and franking credits have been captured and correctly recorded as expected.

    Bill Bookkeeper

    Helping ensure that Mr Simple’s dividend income disclosure is complete.

    8

    At least 4 weeks prior to the due date for lodgment of Mr Simple’s tax return, provide Mr Simple’s tax agent with:

    • Mr Simple’s share investment register spreadsheet for the income year
    • related source documents as required by the tax agent.

    Bill Bookkeeper

    Helping ensure that Mr Simple’s tax return is lodged on time.

    Helping the tax agent with the process of preparing Mr Simple’s tax return.
    Mutual responsibilities

    Item

    Activity

    Responsibility

    Purpose

    9

    Tax agent to provide an annual engagement letter to Mr Simple that specifies the tax agents and Mr Simple’s responsibilities under the engagement.

    TAG & Mr Simple

    To provide clarity around:

    • Mr Simple’s responsibility for providing complete and accurate information
    • tax agents’ responsibility for ensuring that all dividend income, franking credit entitlements, and capital gains (losses) are correctly recorded in Mr Simple’s income tax return.
    Tax agent’s responsibilities – preliminary

    Item

    Activity

    Responsibility

    Purpose

    10

    Logic check dividend income and franking credit calculations in Mr Simple’s Share Investment Register spreadsheet.

    Tax agent

    Integrity check over primary data source from which dividend income information is obtained.

    11

    Verify that Mr Simple’s franking credit entitlements satisfy the 45 day holding period rule

    Tax agent

    Confirm Mr Simple’s eligibility to claim franking credits.

    12

    Calculate capital gains and losses on the disposal of listed share investments that occurred during the year.

    As a competent professional Mr Simple’s tax agent is across the method statement in s102-5 and the issues that are relevant to the correct calculation of gains and losses arising from the disposal of investments in listed shares.

    Tax agent

    Correct calculation of capital (or revenue) gains and losses made by Mr Simple during the income year.

    13

    Retain and file working papers

    Tax agent

    Retention of records that support tax return disclosures.
    Tax agent’s responsibilities – Income tax return preparation

    Item

    Activity

    Responsibility

    Purpose

    14

    Dividend income and franking credits derived by Mr Simple during the year are migrated across from the Share Investment Register spreadsheet across to Mr Simple’s income tax return.

    Tax agent

    Correctly capture dividend income in Mr Simple’s tax return.

    15

    Dividend income totals in Mr Simple’s final return are checked back to the Share Investment Register spreadsheet.

    Tax agent

    Ensure calculations align with information included in the tax return.

    16

    Capital gains tax calculations carried out by the tax agent are migrated from the tax agent’s working papers across to Mr Simple’s tax return and accompanying schedules.

    Tax agent

    Ensure capital gains and losses are correctly reported.

    17

    Verify that the correct amount of franking credit offsets are included in the calculation of Mr Simple’s tax payable.

    Tax agent

    Helps ensure that the calculation of tax payable by Mr Simple is correct.

    Passive investors with complex affairs – checklist

    Group head: Ms Joan Complex

    Entity name: Complex Investments Pty Ltd (Complex Co)

    Checklist: Dividend income and capital gains/losses

    Year end: 30 June 2022

    Record keeping – investments in listed shares and dividend income

    Item

    Activity

    Responsibility

    Purpose

    1

    Complex Co shall maintain a central database repository for documentation concerning:

    • confirmations of the acquisition – including acquisition of shares through a Dividend Reinvestment Plan (DRP) or similar – and disposal of listed share investments carried out directly by Complex Co
    • dividends statements received by Complex Co from investments in listed shares
    • notifications of other corporate actions such as share splits, rights issues associated with Complex Co’s investments in listed shares.

    Information is to be captured in Complex Co’s tailored investment management software package.

    Investment Management team

    Good record keeping practices over the source documents that record Complex Co’s direct investments in listed shares.

    2

    Complex Co will record acquisitions (including acquisition of shares through a DRP or similar) and disposals of listed share investments including:

    • whether the share was acquired on revenue or capital account
    • the date of acquisition or sale
    • the number of shares acquired or sold
    • the price at which the shares have been acquired or sold
    • brokerage fees
    • in the management software on the date of the transaction.

    Investment Management team

    Good record keeping practices over the ongoing management of Complex Co’s portfolio of direct investments in listed shares.

    3

    Summary transactional information captured in the management software is migrated to Finance Department’s accounting software each day.

    Investment Management team/Finance team

    Ensures transactional activities of the investment management team can be reconciled to bank and integrated into Complex Co’s daily P&L and Balance Sheet.

    4

    At the end of each week back up in the management software files to Complex Co’s cloud repository.

    Investment Management team

    Ensure records of Complex Co’s investments in listed shares are not lost in the event primary information sources are compromised.
    Correct reporting of dividend income

    Item

    Activity

    Responsibility

    Purpose

    5

    Share registries are notified of Complex Co’s TFN and provided with its bank account details.

    Investment Management team

    Remove TFN withholding risk. Ensure cash dividends are received into the correct bank account.

    6

    The timing and amount of the dividend (including franking credits and dividends re-invested through a DRP) paid on each listed share investment held by Complex Co should be recorded in the management software on the same day as dividend statements being received.

    Investment Management team

    Ensuring Complex Co’s dividend income disclosure is complete and referable to the correct year of income.

    7

    Dividend information captured in the management software is migrated to Complex Co’s Finance Department’s accounting software each day.

    Investment Management team/Finance team

    Ensures dividends received can be reconciled to bank and integrated into Complex Co’s daily P&L.

    8

    The management software is updated to include additional shares issued as part of participation in a DRP.

    Investment Management team

    Ensuring new shares issued as part of a DRP are recorded as an asset.

    9

    Reconcile cash dividend payments deposited to Complex Co’s bank account with dividend statements.

    Financial accounting team

    Helping ensure Complex Co’s dividend income disclosure is complete

    10

    Dividend information is analysed to verify whether Complex Co satisfies the 45 day holding period rule in relation to the franking credits attached to each dividend that has been paid to it.

    The balance of Complex Co’s franking credit entitlements are to be maintained on an on-going basis with the annual total included as a preparatory note to the tax return working file. This is to ensure that franking credits are recognised (added back) in Complex Co’s tax reconciliation and final tax calculation.

    In-house tax accountant

    Helping ensure that Complex Co’s franking credit entitlements are accurate and correctly disclosed.

    11

    Franking account to be maintained

    In-house tax accountant

    Assign accountability for ensuring that Complex Co’s franking account is accurate and correctly disclosed.

    12

    At year-end dividend information is analysed to identify any final dividend entitlements that have been declared but which remain unpaid. Any differences are included as a preparatory note to the tax return working file to ensure that they are recognised in Complex Co’s tax reconciliation.

    In-house tax accountant

    To help ensure that timing differences are taken into account when income is recognised for accounting and tax.
    Correct reporting of capital gains and losses

    Item

    Activity

    Responsibility

    Purpose

    13

    Extract trading information from the management software and:

    • quantify and prepare tax reconciliation adjustments for (unrealised M2M) accounting gains and losses
    • prepare draft calculations of realised capital gains and losses on the disposal of listed share investments that occurred during the year.

    Complex Co’s in-house tax accountant should have the capability to carry out capital gains tax calculations for disposals of listed shares and to apply the method statement in s102-5. Where required the in-house tax accountant will refer complex issues across to Complex Co’s tax agent/advisors.

    In-house tax accountant

    Adjustments for accounting gains and losses are captured on the tax reconciliation.

    Correct calculation of capital (or revenue) gains and losses.
    Mutual responsibilities

    Item

    Activity

    Responsibility

    Purpose

    14

    Tax agent to provide an annual engagement letter to Complex Group that specifies the tax agents and Complex Co’s responsibilities under the Complex Co tax return preparation engagement.

    TAG & Complex Co’s group CFO

    To provide clarity around:

    • Complex Co’s responsibility for providing complete and accurate information
    • tax agent’s responsibility for ensuring that all dividend income, franking credit entitlements and capital gains (losses) are correctly recorded in Complex Co’s income tax return.
    Information transfer from complex company to tax agent

    Item

    Activity

    Responsibility

    Purpose

    15

    At least 4 weeks prior to the due date for lodgment of Complex Co’s tax return, the Financial Controller will need to provide their tax agent with:

    • Statutory Financial Statements
    • trial balance
    • dividend income figures and supporting calculations
    • notes and working papers that were prepared in support of accrual adjustments and Complex Co’s franking credit entitlements
    • capital gains tax calculations and working papers
    • related source documents as required by the tax agent.

    Financial Controller supported by in-house tax accountant

    Helping ensure Complex Co’s tax return is lodged on time.

    Helping the tax agent with the process of preparing Complex Co’s tax return.
    Tax agent’s responsibilities – Income tax return preparation

    Item

    Activity

    Responsibility

    Purpose

    16

    Review Complex Co’s dividend income, franking credit, and capital gains tax working papers and draft calculations. Make inquires of Complex Co as required and adjust calculations as necessary.

    Tax agent

    Integrity check over primary data source from which dividend income information for Complex Co is obtained.

    17

    Reconcile calculations back to Complex Co’s trial balance.

    Tax agent

    Integrity check over primary data source from which dividend income information for Complex Co is obtained.

    18

    Prepare Complex Co’s tax reconciliation including taking steps to:

    • add back franking credit entitlements
    • adjust for prior and current year accrued dividend income
    • subtract (add-back) current year accounting gains (losses) on investments in listed shares
    • recognise (add-back) realised net (revenue or) capital gains
    • include a note showing Company tax return label field disclosures for each line item.

    Tax agent

    Given that the tax reconciliation is a working paper that is central to the tax return preparation process for Complex Co it’s important that accounting and tax differences are correctly captured and that the source of each adjustment is traceable.

    19

    Migrate dividend income total from the working papers to Complex Co’s income tax return.

    Tax agent

    Correctly capture dividend income in Complex Co’s return.

    20

    Prepare capital gains tax schedule and migrate net capital gain figure across to income tax return.

    Tax agent

    Ensure capital gains and losses are correctly reported in Complex Co’s return.

    21

    Verify that the correct amount of franking credit offsets are included in the calculation of Complex Co’s tax payable.

    Tax agent

    Ensure calculation of Complex Co’s tax payable is correct.

    22

    Retain and file Complex Co’s tax return working papers

    Tax agent

    Retention of records that show how Complex Co’s tax return disclosures and tax payable have been determined.

    MIL OSI News –

  • MIL-OSI: BIK Data Analysis indicates: Including BNPL Transaction Data in Credit History Could Help Almost Every Second “Thin-file Customer” Improve their Creditworthiness

    Source: GlobeNewswire (MIL-OSI)

    WARSAW, Poland, June 26, 2025 (GLOBE NEWSWIRE) — BNPL payments are no longer just a way of financing purchases, but also constitute an innovative factor supporting the development of the Polish credit market. An analysis carried out by the Polish credit bureau BIK found that BNPL users are good at repaying their debts. For 40 percent of “thin-file bank customers” who also use BNPL, combining the two data sources may improve their creditworthiness. The degree of such an improvement can have a significant impact on credit decisions. It is also worth noting that this analysis was made possible by the unique data gathered by BIK and by the reporting standards for BNPL transactions developed together with the financial sector.

    In the sections that follows, we present:

    • the positive aspects of reporting BNPL data to the credit bureau
    • how using BNPL will either have no impact on or could raise the creditworthiness of as many as two thirds of borrowers who use this product
    • the significance of BNPL as a service supporting the development of the financial sector and accounting for 16 percent of new customer acquisition
    • how BNPL data can facilitate broader access to the credit market for consumers
    • whether there is a risk of over-indebtedness for people using BNPL

    The customer base actively using bank loans in Poland has been declining for approximately three years. As of now, 14.2 million individuals hold loans or credit in the banking sector, which is 7% fewer than at the end of 2019.

    One indisputable source of new customers entering the market is the “Buy Now Pay Later” (BNPL) product. This conclusion is based on BIK’s analysis of the database of BNPL transactions systematically submitted and reported to it. The BIK credit bureau aggregates such data from the banking sector as well as lending institutions, whose full reporting to BIK came into effect in May 2023. Over 16 percent of new customers on Poland’s financial market in 2025 used BNPL as their first financial product, and over 55 percent of them were customers aged up 24 years old.

    It is worth emphasising that there are two types of deferred payment (BNPL) products in use on the Polish market: instalment-based and revolving. Instalment BNPL refers to transactions that finance the purchase of specific goods over a short, interest-free period of up to 35 days (grace period), after which the debt is repaid. If the amount is then spread across a set number of instalments, additional costs may apply. The second type of transaction – revolving BNPL – allows purchases to be made within a renewable limit agreed upon with the bank.

    Although the BNPL service is still relatively new, it is experiencing rapid growth. The value of financing via “Buy Now Pay Later” options in Poland, provided mainly by non-bank institutions, reached a level of EUR 2.54 bn (PLN 10.8 bn) in 2024, while the figures for Q1 2025 – of EUR 0.68 bn (PLN 2.9 bn) – showed growth of 24.5 percent in comparison to Q1 2024. This form of payment has already been used by 2.7 million people, among whom the biggest group is that of young people (34 percent under 54 years old). These transactions are predominantly for small amounts of under EUR 50 (PLN 200). BIK’s analyses from the past 12 months show that 74 percent of BNPL transactions are paid off within the grace period, while 26 percent are repaid in instalments.

    According to BIK data, the quality of BNPL repayments is significantly higher than among users of other credit products. At the same time, there is clearly a great deal of potential in BNPL transactions, which could serve as a valuable addition to the risk assessment modelling process – benefiting both lenders and borrowers.

    Data on BNPL transactions collected by BIK enables a broader spectrum of customer insights (customer intelligence)

    BIK’s analysis covered credit applications submitted by consumers to banks and lending institutions who had at least one credit product in the Consumer Finance category, such as instalment loan, cash loan, BNPL, payday loan, revolving credit, or credit card. The findings indicate that customers using BNPL have a strong repayment history as well as a lower probability of default (PD) than the overall customer base.

    Including all BNPL transactions – both active and closed – in credit histories can improve or maintain the creditworthiness of the majority of BNPL customers in the Consumer Finance market. For example, in the case of cash loan applications, as many as 40 percent of customers on the verge of acceptance – who were previously more likely to be rejected due to elevated risk – could improve their creditworthiness and gain access to financing. At the same time, more precise credit risk assessments are possible for current Consumer Finance customers who are already receiving financing. Taking BNPL data into account could help warn and prevent around 1 percent of individuals from falling into over-indebtedness. A more robust assessment based on credit data is possible if, among other things, additional information on repaid BNPL obligations is included. Customers themselves could then also enhance their credit standing by consenting to the processing of such data.

    In general, the credit risk among customers using BNPL is low, even for heavy users of this form of financing. At the same time, it is worth noting that customers who simultaneously spread multiple liabilities across instalments are at an increased risk of over-indebtedness. For this customer group, the risk level is more than twice as high as for customers who rarely choose to repay their debt by instalments. However, the level is still relatively low. BNPL operators, out of concern for the customer, should analyse customer behaviour and actively monitor credit portfolios, which is possible thanks to the data reported to the BIK credit bureau.

    Key role of the credit bureau in establishing an effective ecosystem around BNPL (the BIK model)

    Comprehensive approach irrespective of the service model – The idea at BIK was to take a comprehensive approach to the scope of BNPL information processed and the way it is presented, so as to ensure a secure process of using this product in its numerous variants. The data standardisation model developed allowed unique types of transaction and information to be collected, processed, and made available to other market participants. Moreover, BIK’s actions were one step ahead of another emerging need: the proper interpretation of the reported data.

    Intensive dialogue with market participants – Workshop sessions were attended by both banks and e-commerce market entities. Thanks to the agreements reached during joint meetings, the adopted standardisation now helps prevent the misinterpretation of data.

    Consumer protection and education – Given its key role in the process of ensuring the informed and secure use of deferred payments (BNPL), the BIK credit bureau has focused on properly protecting and informing consumers, as well as highlighting the impact of BNPL purchases on their credit history and, in turn, their creditworthiness in the eyes of financial institutions that use BIK’s database.

    A cautious approach to the future inclusion of BNPL data in banking models – It was agreed that BNPL transactions would be temporarily excluded from operational scoring models. This solution ensures that BNPL activity does not negatively affect consumers’ creditworthiness. Transparency in the use of BNPL loans, which is essential for both banks and lending institutions, has thus been maintained. This is particularly important during the transition period, until there is a proper credit history and long-term analysis of the impact on customer behaviour.

    Measures to protect consumers from potential over-indebtedness

    Not only financial institutions benefit from the information resources held by BIK. Borrowers themselves also have the ability to view their own data. This represents another step in line with good market practices that BIK has adopted in its consumer and media communications.

    “The reporting of BNPL transaction data to BIK has enabled us to gather unique data thanks to which it is possible to draw conclusions on the significance of this innovative form of payments for the financial sector as a whole. The influx of new customers entering the sector and beginning their credit history by using BNPL is particularly important. I am pleased that we can support the process of education and make it possible for BNPL operators to provide more effective protection for customers against over-indebtedness. At the same time, it is worth emphasising that reporting to BIK enables the full assessment of customers as a whole, including those using BNPL, which can lead to them obtaining a better evaluation from financial institutions, ultimately providing access to greater financial opportunities,” noted Mariusz Cholewa, the President of the Management Board of BIK.

    BIK S.A. – the only credit information agency in Poland and a leading expert in scoring and data science – supports financial institutions and their clients by providing a secure system for the exchange of credit and economic information, as well as advisory services, innovative analyses, and anti-fraud solutions. BIK’s portfolio consists of several sector-specific antifraud tools and the new ESG BIK Platform. The company collects and provides data on the credit histories of individual customers and entrepreneurs across the entire Polish credit market, along with data on non-bank loans. The BIK database contains information on 323 million accounts held by 25.2 million individual consumers and 6.6 million accounts held by 1.7 million entrepreneurs. BIK is an active member of ACCIS – the largest group of credit reference agencies in the world – and is part of the BIK Group, which also includes the following subsidiaries: BIG InfoMonitor S.A. – the Economic Information Bureau, and Digital Fingerprints S.A.

    Media contact:
    Aleksandra Stankiewicz-Billewicz
    BIK Press Officer

    mob.: + 48 512 164 131
    aleksandra.stankiewicz-billewicz@bik.pl

    The MIL Network –

  • Gunmen attack Mexican Street Festival, leaving 12 dead

    Source: Government of India

    Source: Government of India (4)

    At least 12 people were killed and nearly 20 others wounded in a brutal overnight attack in the Mexican city of Irapuato, located in the state of Guanajuato, after gunmen opened fire during a festive street celebration honouring St. John the Baptist, local authorities have confirmed.

    The tragedy unfolded on Wednesday (local time) as residents gathered to dance and drink in a community housing complex. A video circulating on social media captured moments of joy– a live band playing, people dancing before panic erupted as gunshots rang out, sending the crowd fleeing in terror.

    Rodolfo Gomez Cervantes, a local official from Irapuato, addressed a press conference on Wednesday, confirming that the death toll had risen to 12 and that about 20 others were receiving treatment for injuries sustained in the attack.

    Mexican President Claudia Sheinbaum condemned the violence and called for swift justice. “It is very unfortunate what happened. An investigation is underway,” she said in a statement, as federal and state security forces scrambled to piece together what transpired and identify those responsible.

    Guanajuato, a state situated northwest of Mexico City, has become one of Mexico’s most violent regions in recent years. Criminal groups have been waging deadly turf wars for control over drug routes, extortion networks, and other illicit enterprises.

    The state recorded 1,435 homicides in the first five months of 2025 — more than double the number seen in any other Mexican state, according to local media reports.

    This latest massacre comes just a day after five people were killed in separate violent incidents across Guanajuato, according to the state attorney general’s office. It also follows a similar attack last month, when gunmen stormed a Catholic Church event in the town of San Bartolo de Berrios, killing seven attendees.

    Authorities have yet to name suspects or confirm which criminal organisation may be behind the recent violence in Irapuato. Investigations are underway. (IANS)

  • MIL-OSI New Zealand: NZ SUPER FUND STAKEHOLDER UPDATE

    Source: New Zealand Super Fund

    Portfolio Update – The value of the NZ Super Fund has mirrored the performance of global risk assets over the past couple of months, dropping to $74 billion following US President Donald Trump’s “Liberation Day” tariff announcements on 2 April and subsequently recovering to pass $83 billion.

    Periods of volatility are part and parcel of running a growth-focused portfolio, which we continue to believe is the investment strategy best suited to our mandate and to our purpose, Sustainable Investment Delivering Strong Returns to All New Zealanders.

    As a long-term investor, we are able to ride out, and even take advantage of, short-term market volatility. For example, one of our most successful active strategies over the past few years is Strategic Tilting. This strategy is based on our belief that investments tend to return to fair value over time and that, given our long-term investment horizon, we can improve our risk-adjusted returns by reducing our exposure to assets we believe are over-priced assets in favour of holding assets we believe offer value.

    As we have seen during the GFC and at the outset of the Covid pandemic, this strategy can generate losses over the short to medium term: our operational independence and our clearly defined governance model are essential to the success of this strategy.

    Market Conditions

    Financial markets remain closely attuned to developments in U.S. trade policy and ongoing tariff negotiations under the Trump Administration. These policy uncertainties, combined with concerns over the recently released federal budget – which is projected to significantly widen the U.S. fiscal deficit – have heightened investor caution.

    As a result, long-term U.S. Treasury yields have risen, driven in part by increased investor demand for alternative sovereign debt instruments. Notably, Japanese Government Bonds (JGBs) have seen a pickup in yields, offering a relatively attractive option for investors seeking safety and yield diversification. This shift in sentiment has also contributed to a modest depreciation of the U.S. dollar against major currencies.

    Global economic activity expanded at a moderate pace in Q1, but recent indicators suggest a softening in momentum across several economies. Inflation remains broadly in line with central bank targets, helped by subdued energy prices. In response to the cooling outlook, central banks in New Zealand, Australia, and the Eurozone have eased monetary policy, while the U.S. Federal Reserve held interest rates steady.

    Adding to global uncertainty, escalating geopolitical tensions in the Middle East have driven a sharp increase in commodity prices, particularly in oil markets. These developments are likely to be a key source of market volatility in the near term.

    The NZ Super Fund in the Budget

    The amount of money the government is required to contribute to the Super Fund is determined by a formula set out in Section 43 of our Act (the New Zealand Superannuation and Retirement Income Act 2001).

    It is a complicated-looking calculation, but the most important inputs are the expected nominal GDP and net cost of superannuation over the following 40 years and the size of the Super Fund.

    If nominal GDP or the size of the Super Fund is higher than expected (or if the net cost of superannuation is lower), the Government is required to contribute a lower amount.

    These forecasts are updated by Treasury every six months at the Budget Economic and Fiscal Update (BEFU) and the Half-Year Economic and Fiscal Update (HYEFU).

    At the last HYEFU, Treasury forecast that the government would be able to make its first withdrawal from the Super Fund in 2031 ($96 million).

    Last month’s updated numbers, published alongside Finance Minister Nicola Willis’s 2025 Budget, forecast that the first withdrawal would come in 2028 ($32 million). 2036 remains the year where withdrawals are forecast to pass $1 billion for the first time.

    Reductions in forecast government contribution have been a trend for the past few years, driven by higher-than-expected returns from the Super Fund and lower-than-previously-expected future net superannuation costs.    

    The Elevate Fund

    The Budget also contained the news that the Government would divert this year’s capital contribution of $61 million to the Elevate Fund, along with a further $39 million from the government’s capital allowance.

    This $100 million commitment provides some welcome certainty for NZGCP, whom the Guardians appointed to manage Elevate in line with the legislation that established the fund in 2019 (the Venture Capital Fund Act), and matches the approach taken by the previous government when it first set up Elevate.

    We look forward to continuing to work with NZGCP to maintain Elevate’s contribution to increasing the venture capital available to New Zealand entities and developing New Zealand’s venture capital markets to function more effectively. 

    Minister of Finance’s Letter of Expectations

    We have now published our response to the Letter of Expectations 2025/26 that we received earlier this year from Finance Minister Nicola Willis.

    Click here to read the Minister’s letter, and here to read our response. 

    Guardians staffer elected to ILPA board

    Del Hart, our Head of External Investments and Partnerships, was recently elected to the Board of the Institutional Limited Partners Association. With 618 institutional members drawn from 50 countries, the ILPA is an important industry advocate and thought leader.

    Private markets are growing and changing rapidly. Del’s perspective will be of great value as we continue to refine our thinking about investing in this asset class.

    Industry recognises Leadership Team member’s career and contribution

    Paula Steed, recently appointed as Guardians GM Technology (and previously GM Strategy and Shared Services), has been inducted as a Fellow of the Chartered Accountants Association of Australia and New Zealand (CAANZ). Fellowships are given for outstanding career achievements or contributions to the profession, as decided by CAANZ members.  

    NZ Super Fund Scholarship winner

    Avondale College alumna Chana Malungahu is the latest recipient of the NZ Super Fund AUT Business Scholarship – Pacific. Chana, who enrolled at AUT in the second semester last year, is currently studying business strategy, international business management, and entrepreneurship and innovation, and working towards a Bachelor of Business degree. 

    AUT Business School announced the award of this scholarship via their LinkedIn page.

    Annual Report voted best in Australasia

    For the fourth time in five years the Guardians’ annual report has been named Report of the Year at this year’s ARA awards. Judges described the report as “designed to engage readers and effectively communicate the organisation’s messages … customer centric and easy to understand.”

    Read our Annual Report for FY24 here.

    The Judges’ comments and a full list of award winners can be found on the ARA website.

    In the news

    Guardians Board member (and former Senior Investment Strategist at the NZ Super Fund) Sue Brake and CalPERS Chief Investment Officer (and former Chief Investment Officer at the NZ Super Fund) Stephen Gilmore talk about the Total Portfolio Approach to investing with Thinking Ahead Institute Associate Director Isabella Martin – the latest in Isabella’s Investing for the Future series of podcasts.

    The Guardians is gearing up to combine a multitude of investment data models across the organisation into a central model-of-models, which should lead to better investment decisions and cost savings. Maaike van Tol, our Director of Portfolio Design, recently sat down with the Investment Innovation Institute’s Director of Content, Wouter Klijn, to talk about how a comprehensive data analytics function can lead to more meaningful conversations, better investment decisions, and lower costs. Read Wouter’s report here.   

    Sustainable Investment Analyst Laumanu Mafi recently featured on RadioNZ’s Pacific Waves programme, where she and host Susana Suisuiki discussed some of the difficulties Pacific women face in accessing the retirement benefits they need. An economist by training, Laumanu spent three years on the investment team at Tonga’s Retirement Fund Board before joining the Guardians two years ago. Go to RNZ Pacific to listen to their conversation.

    Congratulations to former Guardians Board member Mark Tume, winner of the Invest New Zealand – Te Tohu Kahukura Māori Leadership in Finance Award at the recent INFINZ awards. A full list of award winners can be found here.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Local News – Decisions confirmed on water model and Porirua City budget

    Source: Porirua City Council

    Porirua City Council today officially adopted the Te Puna Kōrero committee recommendations made earlier this month around the city’s budget and rates, and the preferred water services delivery model.
    The Annual Plan for the 2025/26 year was agreed, with an average rates increase of 6.39 per cent, significantly lower than previously budgeted.
    When preparing the draft Annual Plan, the starting point for this year’s rates increases had hit 15 per cent, due to cost pressures.
    Council acknowledged this wasn’t sustainable for households and businesses, so took a hard look at internal operations to find cost savings. This brought the new starting point for the average rates increase down to 6.75 per cent.
    After public consultation on five options to further lower the increase, Council agreed to discontinue the Chamber of Commerce grant and increase Council’s building consent hourly rate.
    They voted against increasing the paid parking hourly rate, putting up Cannons Creek Pool entry fees, and discontinuing the Event Investment Programme.
    With these changes, the average rates increase for residential properties will be 6.39 per cent. For most properties, this equates to around $6 or $7 extra per week.
    Porirua Mayor Anita Baker said while nobody wanted to see rates go up, she was confident that the Council had done everything possible to keep increases as low as possible.
    “We know the community is struggling, which is we have done a deep dive internally and made significant cuts, that got us to a lower number than planned. We could have done further cuts, but we listened to your feedback and were guided by that.”
    Water Services preferred delivery model
    Council also agreed to the committee recommendation of 5 June to jointly establish and co-own a new water organisation with Upper Hutt City Council, Hutt City Council, Wellington City Council and Greater Wellington Regional Council.
    Mayor Baker said this was another milestone decision for Porirua as we continue to progress towards implementing the Local Water Done Well Policy.
    “Public consultation undertaken in March and April strongly supported a jointly owned water organisation, and this decision today enables Porirua to continue working with our neighbouring Council towards the stand up of the water company in 2026.”
    Council also agreed today to delegate Mayor Baker and Councillor Ross Leggett, as her alternate, (as the Council’s representative on the Advisory Oversight Group) the power to make decisions on two establishment activities.
    This delegation will enable the next phases of work to continue during the new company’s establishment phase. It will remain in place until later in the year when a new shareholders committee will be set up and will take over the governance level decision making. 

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Man charged with sexual abuse of children

    Source: New South Wales Community and Justice

    Man charged with sexual abuse of children

    Thursday, 26 June 2025 – 12:46 pm.

    Tasmania Police has charged a man from southern Tasmania with child sexual abuse offences, including five counts of rape, as part of an ongoing investigation.The man, aged in his 50s, was previously charged in December 2023 with multiple historical sexual offences against three children under the age of 12.Following further inquiries and interviews by the Southern Sex Crimes Investigation Unit, the man was recently arrested and faces charges of sexual abuse against two more children.The man was bailed with strict conditions and will reappear in the Hobart Magistrates Court in late September.If you suspect child abuse, report it on 131444 or if the child is in immediate danger, call 000.You can also report anonymously to Crime Stoppers Tasmania on 1800 333 000 or crimestopperstas.com.auThe Tasmanian Government’s Keeping Children Safe website is available at https://keepingchildresafe.tas.gov.au/Support for victim survivors, if required, is available through Arch https://arch.tas.gov.au/ or via https://keepingchildrensafe.tas.gov.au/get-support/

    MIL OSI News –

  • MIL-OSI USA: Congressman Valadao Votes to Fully Fund Benefits for Central Valley Veterans

    Source: United States House of Representatives – Congressman David G. Valadao (California)

    WASHINGTON – Today, Congressman David Valadao (CA-22) released the following statement after the House passed the Fiscal Year 2026 Military Construction, Veterans Affairs, and Related Agencies Appropriations Bill. This bill includes critical investments to modernize military infrastructure, support readiness, and enhance the quality of life for our servicemembers and their families. It also maintains our nation’s commitment to the well-being of our veterans by providing critical resources for healthcare, pension benefits, and housing. Congressman Valadao is a member of the House Committee on Appropriations.

    “I’m proud to support this bill that delivers on our promise to America’s veterans and strengthens support for our military families,” said Congressman Valadao. “This bill fully funds veterans’ health care, the VA, and key benefits our veterans have earned, while also investing in a new program to combat veteran homelessness. I’m also happy to see Central Valley priorities included—like important language related to the Bakersfield VA clinic and funding for an F-35 Aircraft Maintenance Hangar at NAS Lemoore. This is the first FY26 appropriations bill to clear the House, and I look forward to working with my colleagues to move the rest of our funding bills forward.”

    Key Takeaways:

    • Fully funds veterans’ health care programs. 
    • Fully funds veterans’ benefits and VA programs.
    • Combats veteran homelessness by investing in the new Bridging Rental Assistance for Veteran Empowerment program.
    • Maintains funding levels for research, mental health programs, and other programs to support our veterans.
    • Provides robust funding for military construction projects, including NAS Lemoore.
    • Invests in the American Battle Monuments Commission.

    Background:

    The FY26 Military Construction, Veterans Affairs, and Related Agencies Appropriations Act includes a total discretionary allocation of $152.091 billion, which is nearly $5 billion (3%) above the FY25 enacted level. This bill also provides $300 billion for mandatory programs, for a total of $453 billion in overall funding. 

    ###

    MIL OSI USA News –

  • MIL-OSI Submissions: Africa – Shelter Afrique Development Bank Extends USD15M Housing Loan to Banque Mauritanienne de l’Investissement to Finance Affordable Housing projects in Mauritania

    Source: MediaFast

    Nouakchott, Mauritania – 25 June, 2025 – Shelter Afrique Development Bank (ShafDB), a leading Pan-African multilateral development bank committed to financing and advancing housing, urban, and related infrastructure development, has signed a USD 15 million loan agreement with Banque Mauritanienne de l’Investissement (BMI) to finance affordable housing in Mauritania.

    This transaction, signed Monday in Nouakchott, Mauritania, is part of the ShafDB’s strategy to promote access to decent housing for low- and middle-income populations in Africa, and will strengthen Mauritania’s housing finance ecosystem, particularly for under-served populations.

    The loan will be used to co-finance the construction of 1,000 homes in the town of ZOUÉRATT and the servicing of 1,000 plots in the commune of TEVRAGH ZEINA for the diaspora and residents.

    Commenting on the agreement, Shelter Afrique Development Bank Managing Director Mr Thierno-Habib Hann noted that ShafDB and the BMI shared a similar vision: to help the diaspora and residents of the town of ZOUÉRATT to build their own homes.

    “This partnership with BMI will make it possible to offer affordable and decent housing to low-income households, filling part of the 50,000 housing deficit in Mauritania in a context where urbanisation is growing at a rate of 4%,” said Mr Hann,” said Mr. Hann.

    BMI Managing Director Mohamed Yahya Sidi welcomed the agreement, saying his institution was honoured to work with Shelter Afrique Development Bank to finance affordable housing projects in Mauritania.  

    “This partnership strengthens our commitment to Mauritania’s socio-economic development, broadens our inclusive housing finance solutions, and confirms our support for the country’s ambitious urban development programme,” said Mr. Sidi.

    Through this partnership, it is estimated that around 5,000 jobs will be created, 12,400 people will benefit from the project and 2,000 households will gain access to housing through self-build or direct purchase.

    About Shelter Afrique Development Bank

    Established in 1981 in Lusaka, Zambia, Shelter Afrique Development Bank (ShafDB) is a Pan-African Multilateral Development Bank (MDB) dedicated to promoting and financing sustainable green housing, urban development and related infrastructure. It operates through a shareholding of 44 African governments and two institutional shareholders: African Development Bank (AfDB) and African Reinsurance Corporation (Africa-Re).

    The institution is involved in financing housing and related infrastructure across the value chain, both on the demand and supply sides, through its four (4) business lines: Financial Institutions Group (FIG), the Project Finance Group (PFG), the Sovereign and Public-Private partnerships (PPP) Group, and the Fund Management Group (FMG).  

    https://www.shelterafrique.org/en/home

    About Banque Mauritanienne de l’Investissement (BMI)

    Banque Mauritanienne de l’Investissement (BMI) is a leading financial institution in Mauritania, providing innovative Islamic banking services tailored to individuals, SMEs, and corporations. The bank is bank committed to supporting economic growth and social development in Mauritania.  https://bmi.mr/fr/

    MIL OSI – Submitted News –

  • MIL-OSI: Jefferson Capital Announces Pricing of Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    MINNEAPOLIS, June 25, 2025 (GLOBE NEWSWIRE) — Jefferson Capital, Inc. (“Jefferson Capital”), a leading analytically driven purchaser and manager of charged-off and insolvency consumer accounts, today announced the pricing of its underwritten initial public offering of 10,000,000 shares of common stock at an initial public offering price of $15.00 per share. Jefferson Capital is offering 625,000 shares of common stock, and certain existing stockholders are offering 9,375,000 shares of common stock. In addition, the underwriters of the offering have a 30-day option to purchase from the selling stockholders up to 1,500,000 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions. Jefferson Capital will not receive any proceeds from the sale of shares by the selling stockholders.

    Jefferson Capital’s common stock is expected to begin trading on the Nasdaq Global Select Market on June 26, 2025 under the ticker symbol “JCAP.”   The offering is expected to close on June 27, 2025, subject to customary closing conditions.

    Jefferies and Keefe, Bruyette & Woods, A Stifel Company, are acting as joint-lead book-running managers for the offering. Citizens Capital Markets, Raymond James, Truist Securities, Capital One Securities, DNB Carnegie, Regions Securities LLC and Synovus are acting as book-running managers for the offering. FHN Financial Securities Corp. and ING Financial Markets LLC are acting as co-managers for the offering.

    A registration statement relating to the sale of these securities was declared effective by the Securities and Exchange Commission on June 25, 2025. The offering is being made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained, when available, from: Jefferies LLC, at Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at 877-821-7388, or by email at prospectus_department@jefferies.com; or Keefe, Bruyette & Woods, Inc. by telephone at (800) 966-1559, or by e-mail at USCapitalMarkets@kbw.com.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    Use of Forward-Looking Statements

    This press release may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and in the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements. All forward-looking statements speak only as of the date of this press release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements.

    About Jefferson Capital, Inc.

    Founded in 2002, Jefferson Capital is an analytically driven purchaser and manager of charged-off and insolvency consumer accounts with operations in the United States, Canada, the United Kingdom and Latin America. It purchases and services both secured and unsecured assets, and its growing client base includes Fortune 500 creditors, banks, fintech origination platforms, telecommunications providers, credit card issuers and auto finance companies. Jefferson Capital is headquartered in Minneapolis, Minnesota with additional offices and operations located in Sartell, Minnesota, Denver, Colorado and San Antonio, Texas (United States); Basingstoke, England; London, England and Paisley, Scotland (United Kingdom); London, Ontario and Toronto, Ontario (Canada); as well as Bogota (Colombia).

    Contacts

    Investor Relations: IR@jcap.com

    Media Relations: Doug.Donsky@icrinc.com

    SOURCE Jefferson Capital

    The MIL Network –

  • MIL-OSI: BAY Miner Launches AI-Powered Cloud Mining, Supporting Bitcoin, Ethereum, SOL, XRP, Litecoin, and Dogecoin

    Source: GlobeNewswire (MIL-OSI)

    Las Vegas, Nevada, June 25, 2025 (GLOBE NEWSWIRE) — Bitcoin surpassed $105,000, Ethereum rose to $2,420, and Solana, XRP, Litecoin, and Dogecoin also rebounded strongly, ushering in a new wave of enthusiasm in the cryptocurrency market. Riding this trend, AI-powered BAY Miner announced the launch of a multi-currency cloud mining solution that requires no equipment or maintenance, supports BTC, ETH, SOL, XRP, LTC, and DOGE, and delivers daily mining earnings directly to users’ accounts, opening a new era of intelligent passive investment.

    Crypto Market Overview

    ·Bitcoin (BTC): Market value exceeds $2 trillion, mainstream ETF funds continue to flow in, and on-chain activity reaches a recent high.
    ·Ethereum (ETH): L2 network is active, EIP upgrade reduces transaction fees, and staked ether soars.
    ·Solana (SOL): TVL and NFT activities surge, and institutional layout signs are obvious.
    ·XRP: The legal ruling on ETF is approaching, and the community and funds continue to pay attention.
    ·Litecoin (LTC): Benefiting from payment integration needs, some e-commerce platforms have re-enabled LTC payment channels.
    ·Dogecoin (DOGE): Musk publicly expressed support for Memecoin infrastructure, and DOGE soared 12% in one day.

    BAY Miner Platform Highlights

    1. AI intelligent allocation algorithm: The platform automatically identifies the optimal mining currency and time, and optimizes the income structure.
    2. One-click mining of multiple currencies: Users only need to register once to open multiple currency income paths such as BTC, ETH, SOL, etc. at the same time.
    3. Cloud operation, device management-free: Adapt to mobile phones and web pages, no hardware required, zero maintenance.
    4. Income visualization: The platform income can be checked daily, and wallet binding and automatic settlement are supported.
    5. Newcomer contract gift package: Register and get a $15 contract reward, and experience a daily income of $0.60.

    Flexible Contract Mechanism: Freely Control Your Mining Rhythm
    BAY Miner provides a variety of flexible cloud mining contracts to meet the diverse needs of different users for cycles, risk control, and returns. Whether it is a short-term trial or long-term stable appreciation, users can freely choose the most suitable mining plan based on their own asset allocation.
    BAY Miner Cloud Mining Contract Example
    ·BTC [Power Contract Plan]: Invest $10,000, 47 days → Daily income $165 → Total income $17,755
    ·DOGE [Core Contract Plan]: Invest $5,000, 32 days → Daily income $72.5 → Total income $7,320
    ·BTC [Free Computing Power Experience Plan]: Invest $100, 2 days → Daily income $4 → Total income $108

    Click here for full contract details

    User Reviews
    “BAY Miner eliminates the need for complicated wallets or mining rigs, allowing even beginners to easily benefit from the current crypto bull market.” — Jason L., Senior User / Community Ambassador of BAY Miner

    Call to Action
    Visit www.bayminer.com now, register an account and receive a $15 cloud mining gift package for free, experience daily risk-free returns, and intelligently start your crypto asset growth journey.

    About Us
    BAY Miner is an innovative platform focusing on AI cloud mining, dedicated to helping global users easily participate in the passive mining income of mainstream currencies such as Bitcoin, Ethereum, Solana, XRP, etc. through threshold-free computing power contracts. The platform supports mobile and web access, integrates data security, transparent income, and automated management, and is a representative of the new generation of intelligent mining solutions.
    Contact Information

    Website: www.bayminer.com
    Email: info@bayminer.com

    App: Download Now

    Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks. There is a possibility of financial loss. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

    Attachment

    The MIL Network –

  • MIL-OSI USA: Majority Witnesses from PSI Hearing Submit Hundreds of Studies, Thousands of Citations Documenting COVID-19 Vaccine Adverse Events

    US Senate News:

    Source: United States Senator for Wisconsin Ron Johnson

    Minority witness submits 19 pro-COVID-19 vaccine citations after official hearing record closed 

    WASHINGTON – On Thursday, June 5, 2025, the official record closed for the Permanent Subcommittee on Investigations’ hearing entitled, “The Corruption of Science and Federal Health Agencies: How Health Officials Downplayed and Hid Myocarditis and Other Adverse Events Associated with the COVID-19 Vaccines.” Prior to its closure, the Majority’s witnesses submitted hundreds of documents — including peer-reviewed studies — and thousands of citations about COVID-19 vaccine adverse events to accompany their testimonies. These records provide substantial support for the witnesses’ claims regarding the serious health risks associated with the COVID-19 vaccines. 

    At the Subcommittee’s May 21, 2025 hearing, Chairman Ron Johnson (R-WI) released a Majority staff interim report and over 2,400 pages of records detailing the failure of Biden health officials to properly warn the public of the risks of myocarditis and related heart inflammation conditions following mRNA COVID-19 vaccination. The hearing featured testimony from Dr. Peter McCullough, Dr. Jordan Vaughn, Dr. James Thorp, Dr. Joel Wallskog, and Mr. Aaron Siri, all of whom were invited by Chairman Johnson to speak about COVID-19 vaccine adverse events.

    “Any of you who have cited some study or some opinion back it up, and we’ll include it in the hearing record. We’ll have this hearing record [] stay open for 15 days. So, I’m really encouraging people, send me that science,” Chairman Johnson stated to all witnesses at the hearing.

    Later, Chairman Johnson told Hawaii Governor Josh Green, the Minority’s witness at the hearing, “I’m begging you, please provide the studies, the citations that prove that the injection actually reduced severity of symptoms, prevented deaths. Give us those studies, so we can throw those into the hearing record and compare them to other studies[.]” Governor Green responded, “It will not be difficult, Senator, there’s so many.”

    In addition to the 33 pages Governor Green enclosed in his written statement for the hearing, Governor Green submitted 19 links to studies and articles to support his claims about the safety and efficacy of the COVID-19 vaccines. The governor’s submission to the record was made one week after the hearing record officially closed.   

    Chairman Johnson allowed Governor Green’s late submission to be included in the official record so that the public can compare the evidence that the governor presented in support of the COVID-19 vaccines to the multitude of documentation indicating the clear health risks associated with the injections.

    Documents and citations that the Majority’s witnesses entered into the record can be viewed here. Governor Green’s submission to the record can be viewed here.

    A video showing Chairman Johnson asking witnesses for citations can be viewed here. 

    MIL OSI USA News –

  • MIL-OSI USA: Vought Refuses to Rule Out More Illegal End-Runs Around Congress & Refuses to Detail How Trump Will Execute Cuts If Rescissions Bill Passes—Murray Urges Congress to Reject Package in its Entirety

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    ***WATCH and READ: Senator Murray’s opening remarks***

    ***WATCH: Senator Murray questioning Director Vought***

    ***WATCH and READ: Senator Schatz’s testimony***

    ***FACT SHEET: Rescission Package Would Devastate Local Public Radio, TV Stations Across America***

    ***FACT-FICTION: Trump’s Rescission Package Would Gut Bipartisan Foreign Policy Investments***

    Washington, D.C. — Today, during a Senate Appropriations Committee hearing on President Trump’s $9.4 billion rescission request—U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, underscored in how Republicans passing the package would devastate local public radio and TV stations nationwide, gut investments Congress has made to support longstanding bipartisan foreign policy objectives, and undermine the bipartisan annual appropriations process.

    Senator Murray and her colleagues pressed Office of Management and Budget (OMB) Director Russell Vought on all manner of details on the request and this administration’s actions, and Senator Murray specifically pressed Vought on his plans for future rescissions requests, lack of details about the current rescission package, and his plans to illegally withhold even more funding.

    Senators Brian Schatz (D-HI), Ranking Member of the State, Foreign Operations, and Related Programs Subcommittee, and Eric Schmitt (R-MO) also provided testimony on President Trump’s $9.4 billion rescission request.

    [KEY TAKEAWAYS]

    Throughout the hearing, Director Vought faced bipartisan pushback over the sweeping cuts in the package, his refusal to provide detail about what exactly the administration will cut if the package passes, and his insistence on justifying the proposed cuts with a highly-selective list of previously funded projects despite the fact that this administration now has discretion over how funding is allocated—and President Trump himself signed a majority of the funding into law himself.

    Among much else, Director Vought:

    • Refused to rule out doing an end-run around Congress through his illegal notion of a “pocket rescission.”
    • Refused to rule out doing an end-run around Congress through an illegal scheme to request sweeping deferrals under the Impoundment Control Act, run out the clock, and then unilaterally impound funding.
    • Refused to commit to getting out the funding that the Government Accountability Office has determined he is illegally impounding.
    • Repeatedly lied about this administration’s and his own office’s actions—even going so far as to absurdly claim: “We have not impounded any funding.” This despite the fact that the Government Accountability Office has now twice ruled he has illegally impounded funds in its first investigation findings (not to mention courts across America)—and despite the fact that at the very same hearing, Vought insisted impoundment is an option on the table.
    • Refused to spell out exactly how the Trump administration will cut specific programs if the rescissions package passes.

    [MURRAY’S OPENING REMARKS]

    “After Congress failed to pass full-year bills in the FY25, it is so important we pass full-year spending bills that deliver the investments that our communities need. And this hearing today asks a very important question: will Congress stand up and protect its constitutional power of the purse—and will this Committee band together to finally say, ‘enough is enough,’ and show bipartisanship still matters? Or will we, for the first time ever, pass an entirely partisan rescissions package and jeopardize the bipartisan work? I hate to be blunt—but that question is at the heart of this first rescissions request, which would gut bipartisan investments in foreign assistance, reliable local news, and high-quality educational programming,” said Senator Murray in her opening remarks. “I have offered to the Chair and others in this room to do what this Committee has always done: consider bipartisan rescissions in our bills through the annual process, which is the right way to do it. …. If President Trump and Director Vought get their way—and Republicans pass this package—they will not only gut the heart of compromise that this Committee is built around, but zero out longstanding bipartisan investments.”

    [TRUMP’S PLANS FOR MORE RESCISSION PACKAGES]

    Senator Murray began her questioning by emphasizing that Congress passes funding bills after bipartisan negotiations, and partisan rescissions packages that cut up bipartisan spending deals undermine that bipartisan negotiation process: “When I cut a deal with Chair Collins, or Senator Graham, or any of my Republican colleagues, there may be parts of it I do not like or they do not like—but we know what we agreed to and passed into law is something we can count on. And that is absolutely essential to getting the 60 votes to make this Appropriations process work. But what we are here today talking about is one party rescinding funding provided with 60 votes with just a simple majority. And if that becomes the new normal for how this body operates, that is going to make Appropriations bills extremely hard to negotiate. So, as we consider this package, this committee deserves to understand the whole picture of this administration’s plans before making a decision on this request.”

    Senator Murray asked, “So, if this package passes, do you intend to send more rescission requests to Congress?”

    Director Vought declined to rule the possibility out, stating, “Senator, that’s up to the President. It’s certainly an option that I’ve stated publicly that we will strongly consider but that’s up to the President. And you know, we will take that on a week-by-week basis. But there is more honestly than $9.4 billion that we have identified. There’s $163 billion in fiscal year 26 that we have identified for less spending than prior budgets.”

    “So, these were bills that this Committee approved on a bipartisan basis, how many packages are you talking about? And what they are?” pressed Senator Murray.

    “Again, we have—no decisions on those have been made. But we do want to see how successful this effort is,” said Director Vought, in part.

    Senator Murray said: “Correct, and I will just remind all of us that the Appropriations Committee worked on those in a bipartisan way. They were not partisan packages that were sent up. So, what I’m hearing you answer me is that there will be more. You don’t know how many more but there will be more so this Committee and this Congress could spend a lot of time going forward on requests for cuts if this package passes.”

    [VOUGHT REFUSES TO RULE OUT “POCKET RESCISSIONS,” MASS DEFERRALS]

    Senator Murray continued by pressing Director Vought on his plans to continue illegally impounding funds already appropriated by Congress, “Director Vought, when asked about this request, you have said that no matter how Congress acts on this request, impoundment is still ‘on the table.’ And, in an acknowledgement of how unpopular your cuts to bipartisan priorities are, you even publicly said you may well try to do an end-run around Congress by requesting rescissions in the last 45 days of the fiscal year, and then pretending that even if Congress fails to approve them, you can rescind those funds anyway. So, let me tell you: that is not how the law works. The President does not have a line-item-veto—much less a retroactive line-item veto. Your notion of this ‘pocket rescission’ defies common sense—and by the way the plain text of the law.”

    Senator Murray asked, “Director Vought, will you commit to this Committee that you will not attempt to do an end-run around Congress with this so-called ‘pocket rescission’—something members on both sides of this dais have made clear is outright illegal?”

    Director Vought refused to commit to not attempt the tactic, instead defending its potential use: “Senator, there’s a lot of mischaracterizations into my previous comments. I would just say that we believe that we have, under the law, numerous options with regards to how to achieve savings including rescissions that are timed at the end of the fiscal year. General Accounting Office has articulated that earlier in the life of the Impoundment Control Act.”

    “This should be a yes or no, and what I hear from you is all kinds of word salad to make sure you are letting us know that you intend to do things that are outside the intent of the law,” pushed back Senator Murray.

    “And it has also been reported that you are considering sending Congress a massive ‘deferral’ package under the ICA in an attempt to run out the clock and avoid legal scrutiny of this administration’s illegal freeze before ultimately impounding the funds at the end of the fiscal year,” Senator Murray said. “Can you commit to this Committee that there be no deferral package?”

    “We certainly are aware of the deferral provisions in the Impoundment Control Act. There are specific statutory requirements there. That if we are in a situation where funds may meet those definitions. They are certainly on the table but again we have made no decisions. The President has not made any decisions with regard to those different tools that exist. And so I’m here to talk about one package and there’s been one decision on one package, $9.4 billion,” responded Director Vought.

    “Director Vought, I just want to be clear to all of us about what’s going on here: you are actually telling Congress, in total disregard for Congress’s Article 1 powers, you and the president will just impound or rescind funds that you don’t agree with on your own,” said Senator Murray. “And Congress, I will say to all of my committee, should not stand that from this President or any President in the future. And I think that’s really important as we consider this. ”

    [REFUSAL TO PROVIDE DETAILS ON HOW ADMIN WILL MAKE CUTS]

    Senator Murray ended her questioning by addressing the complete lack of information that the Trump administration has provided about how it will seek to make the sweeping cuts it proposes: “Director Vought, to justify the $8.3 billion you propose in foreign assistance, you’ve argued that these funds were used by the Biden Administration for ‘woke’ programs or things not aligned to Trump priorities. That’s not how this works. Whatever the Biden Administration may or may not have done, most of what you are proposing, as has been talked about here, to rescind is Congress provided this Administration in the FY25 CR—the same CR that President Trump signed into law in March. And while Congress has provided instructions for target countries, and sectors, and purposes, this administration has flexibility to determine how best to meet those bipartisan objectives. So, you are waving around a tiny, cherry-picked list of past initiatives funded by those accounts. It’s irrelevant when the simple fact is you and this administration now determine how those funds are being provided by Congress and are specifically put to use. And yet, conveniently, you have not spelled out for this Committee and the public what you plan to cut if this package passes, even if you ask us to vote on it.”

    “So, will you tell us specifically, and I’m going to ask you two questions, tell us specifically which global health programs—malaria, TB, polio, funding for GAVI—are you going to cut?” inquired Senator Murray.

    Director Vought replied, “We have two main reductions in global health.”

    Senator Murray pressed, “Can you tell us specifically on any of those today?”

    “We have $500 million for family planning and $400 million to PEPFAR,” said Director Vought, again not noting specific programs or initiatives he plans to cut.

    Senator Murray continued, “But you’re not going to tell us what programs—ok. Will you tell us specifically where—the Philippines, Pacific Islands, Jordan—you’re planning to undermine American interests?”

    Director Vought replied: “Of course not. We have been very clear in all the administration’s priorities that all of our commitments in regard to Jordan and Egypt are maintained,” Director Vought said in part.

    “I assume you are unwilling to share which humanitarian crises this administration plans to walk away with, which is what we would be voting on—and that is critical information,” said Senator Murray.

    [MURRAY’S CLOSING STATEMENT]

    In closing, Senator Murray said:

    “Thank you very much Chair Collins for holding this hearing. This really is an important discussion with really enormous stakes for our communities, with local news that they rely on, whether they’ll go dark. For the world, will America keep its commitments and continue leading on the global stage? And for this Committee, will we keep focused on bipartisan funding bills or will we give that up to spend our time on a wave of partisan rescissions?

    “I’ve made really clear where I stand. I want us to keep working together to write bipartisan bills that allow us to be a strong voice for our constituents. That’s going to prove very difficult, and maybe even impossible, if this body goes down the path Trump is now calling for, a path that would let partisan rescissions rip up our bipartisan agreements.

    “I hope my colleagues will join me in rejecting this destructive request outright, and ensuring decisions about what we fund, and even potential rescissions, are made by us through the annual appropriations process.”

    MIL OSI USA News –

  • MIL-OSI USA: Vought Refuses to Rule Out More Illegal End-Runs Around Congress & Refuses to Detail How Trump Will Execute Cuts If Rescissions Bill Passes—Murray Urges Congress to Reject Package in its Entirety

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    ***WATCH and READ: Senator Murray’s opening remarks***

    ***WATCH: Senator Murray questioning Director Vought***

    ***WATCH and READ: Senator Schatz’s testimony***

    ***FACT SHEET: Rescission Package Would Devastate Local Public Radio, TV Stations Across America***

    ***FACT-FICTION: Trump’s Rescission Package Would Gut Bipartisan Foreign Policy Investments***

    Washington, D.C. — Today, during a Senate Appropriations Committee hearing on President Trump’s $9.4 billion rescission request—U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, underscored in how Republicans passing the package would devastate local public radio and TV stations nationwide, gut investments Congress has made to support longstanding bipartisan foreign policy objectives, and undermine the bipartisan annual appropriations process.

    Senator Murray and her colleagues pressed Office of Management and Budget (OMB) Director Russell Vought on all manner of details on the request and this administration’s actions, and Senator Murray specifically pressed Vought on his plans for future rescissions requests, lack of details about the current rescission package, and his plans to illegally withhold even more funding.

    Senators Brian Schatz (D-HI), Ranking Member of the State, Foreign Operations, and Related Programs Subcommittee, and Eric Schmitt (R-MO) also provided testimony on President Trump’s $9.4 billion rescission request.

    [KEY TAKEAWAYS]

    Throughout the hearing, Director Vought faced bipartisan pushback over the sweeping cuts in the package, his refusal to provide detail about what exactly the administration will cut if the package passes, and his insistence on justifying the proposed cuts with a highly-selective list of previously funded projects despite the fact that this administration now has discretion over how funding is allocated—and President Trump himself signed a majority of the funding into law himself.

    Among much else, Director Vought:

    • Refused to rule out doing an end-run around Congress through his illegal notion of a “pocket rescission.”
    • Refused to rule out doing an end-run around Congress through an illegal scheme to request sweeping deferrals under the Impoundment Control Act, run out the clock, and then unilaterally impound funding.
    • Refused to commit to getting out the funding that the Government Accountability Office has determined he is illegally impounding.
    • Repeatedly lied about this administration’s and his own office’s actions—even going so far as to absurdly claim: “We have not impounded any funding.” This despite the fact that the Government Accountability Office has now twice ruled he has illegally impounded funds in its first investigation findings (not to mention courts across America)—and despite the fact that at the very same hearing, Vought insisted impoundment is an option on the table.
    • Refused to spell out exactly how the Trump administration will cut specific programs if the rescissions package passes.

    [MURRAY’S OPENING REMARKS]

    “After Congress failed to pass full-year bills in the FY25, it is so important we pass full-year spending bills that deliver the investments that our communities need. And this hearing today asks a very important question: will Congress stand up and protect its constitutional power of the purse—and will this Committee band together to finally say, ‘enough is enough,’ and show bipartisanship still matters? Or will we, for the first time ever, pass an entirely partisan rescissions package and jeopardize the bipartisan work? I hate to be blunt—but that question is at the heart of this first rescissions request, which would gut bipartisan investments in foreign assistance, reliable local news, and high-quality educational programming,” said Senator Murray in her opening remarks. “I have offered to the Chair and others in this room to do what this Committee has always done: consider bipartisan rescissions in our bills through the annual process, which is the right way to do it. …. If President Trump and Director Vought get their way—and Republicans pass this package—they will not only gut the heart of compromise that this Committee is built around, but zero out longstanding bipartisan investments.”

    [TRUMP’S PLANS FOR MORE RESCISSION PACKAGES]

    Senator Murray began her questioning by emphasizing that Congress passes funding bills after bipartisan negotiations, and partisan rescissions packages that cut up bipartisan spending deals undermine that bipartisan negotiation process: “When I cut a deal with Chair Collins, or Senator Graham, or any of my Republican colleagues, there may be parts of it I do not like or they do not like—but we know what we agreed to and passed into law is something we can count on. And that is absolutely essential to getting the 60 votes to make this Appropriations process work. But what we are here today talking about is one party rescinding funding provided with 60 votes with just a simple majority. And if that becomes the new normal for how this body operates, that is going to make Appropriations bills extremely hard to negotiate. So, as we consider this package, this committee deserves to understand the whole picture of this administration’s plans before making a decision on this request.”

    Senator Murray asked, “So, if this package passes, do you intend to send more rescission requests to Congress?”

    Director Vought declined to rule the possibility out, stating, “Senator, that’s up to the President. It’s certainly an option that I’ve stated publicly that we will strongly consider but that’s up to the President. And you know, we will take that on a week-by-week basis. But there is more honestly than $9.4 billion that we have identified. There’s $163 billion in fiscal year 26 that we have identified for less spending than prior budgets.”

    “So, these were bills that this Committee approved on a bipartisan basis, how many packages are you talking about? And what they are?” pressed Senator Murray.

    “Again, we have—no decisions on those have been made. But we do want to see how successful this effort is,” said Director Vought, in part.

    Senator Murray said: “Correct, and I will just remind all of us that the Appropriations Committee worked on those in a bipartisan way. They were not partisan packages that were sent up. So, what I’m hearing you answer me is that there will be more. You don’t know how many more but there will be more so this Committee and this Congress could spend a lot of time going forward on requests for cuts if this package passes.”

    [VOUGHT REFUSES TO RULE OUT “POCKET RESCISSIONS,” MASS DEFERRALS]

    Senator Murray continued by pressing Director Vought on his plans to continue illegally impounding funds already appropriated by Congress, “Director Vought, when asked about this request, you have said that no matter how Congress acts on this request, impoundment is still ‘on the table.’ And, in an acknowledgement of how unpopular your cuts to bipartisan priorities are, you even publicly said you may well try to do an end-run around Congress by requesting rescissions in the last 45 days of the fiscal year, and then pretending that even if Congress fails to approve them, you can rescind those funds anyway. So, let me tell you: that is not how the law works. The President does not have a line-item-veto—much less a retroactive line-item veto. Your notion of this ‘pocket rescission’ defies common sense—and by the way the plain text of the law.”

    Senator Murray asked, “Director Vought, will you commit to this Committee that you will not attempt to do an end-run around Congress with this so-called ‘pocket rescission’—something members on both sides of this dais have made clear is outright illegal?”

    Director Vought refused to commit to not attempt the tactic, instead defending its potential use: “Senator, there’s a lot of mischaracterizations into my previous comments. I would just say that we believe that we have, under the law, numerous options with regards to how to achieve savings including rescissions that are timed at the end of the fiscal year. General Accounting Office has articulated that earlier in the life of the Impoundment Control Act.”

    “This should be a yes or no, and what I hear from you is all kinds of word salad to make sure you are letting us know that you intend to do things that are outside the intent of the law,” pushed back Senator Murray.

    “And it has also been reported that you are considering sending Congress a massive ‘deferral’ package under the ICA in an attempt to run out the clock and avoid legal scrutiny of this administration’s illegal freeze before ultimately impounding the funds at the end of the fiscal year,” Senator Murray said. “Can you commit to this Committee that there be no deferral package?”

    “We certainly are aware of the deferral provisions in the Impoundment Control Act. There are specific statutory requirements there. That if we are in a situation where funds may meet those definitions. They are certainly on the table but again we have made no decisions. The President has not made any decisions with regard to those different tools that exist. And so I’m here to talk about one package and there’s been one decision on one package, $9.4 billion,” responded Director Vought.

    “Director Vought, I just want to be clear to all of us about what’s going on here: you are actually telling Congress, in total disregard for Congress’s Article 1 powers, you and the president will just impound or rescind funds that you don’t agree with on your own,” said Senator Murray. “And Congress, I will say to all of my committee, should not stand that from this President or any President in the future. And I think that’s really important as we consider this. ”

    [REFUSAL TO PROVIDE DETAILS ON HOW ADMIN WILL MAKE CUTS]

    Senator Murray ended her questioning by addressing the complete lack of information that the Trump administration has provided about how it will seek to make the sweeping cuts it proposes: “Director Vought, to justify the $8.3 billion you propose in foreign assistance, you’ve argued that these funds were used by the Biden Administration for ‘woke’ programs or things not aligned to Trump priorities. That’s not how this works. Whatever the Biden Administration may or may not have done, most of what you are proposing, as has been talked about here, to rescind is Congress provided this Administration in the FY25 CR—the same CR that President Trump signed into law in March. And while Congress has provided instructions for target countries, and sectors, and purposes, this administration has flexibility to determine how best to meet those bipartisan objectives. So, you are waving around a tiny, cherry-picked list of past initiatives funded by those accounts. It’s irrelevant when the simple fact is you and this administration now determine how those funds are being provided by Congress and are specifically put to use. And yet, conveniently, you have not spelled out for this Committee and the public what you plan to cut if this package passes, even if you ask us to vote on it.”

    “So, will you tell us specifically, and I’m going to ask you two questions, tell us specifically which global health programs—malaria, TB, polio, funding for GAVI—are you going to cut?” inquired Senator Murray.

    Director Vought replied, “We have two main reductions in global health.”

    Senator Murray pressed, “Can you tell us specifically on any of those today?”

    “We have $500 million for family planning and $400 million to PEPFAR,” said Director Vought, again not noting specific programs or initiatives he plans to cut.

    Senator Murray continued, “But you’re not going to tell us what programs—ok. Will you tell us specifically where—the Philippines, Pacific Islands, Jordan—you’re planning to undermine American interests?”

    Director Vought replied: “Of course not. We have been very clear in all the administration’s priorities that all of our commitments in regard to Jordan and Egypt are maintained,” Director Vought said in part.

    “I assume you are unwilling to share which humanitarian crises this administration plans to walk away with, which is what we would be voting on—and that is critical information,” said Senator Murray.

    [MURRAY’S CLOSING STATEMENT]

    In closing, Senator Murray said:

    “Thank you very much Chair Collins for holding this hearing. This really is an important discussion with really enormous stakes for our communities, with local news that they rely on, whether they’ll go dark. For the world, will America keep its commitments and continue leading on the global stage? And for this Committee, will we keep focused on bipartisan funding bills or will we give that up to spend our time on a wave of partisan rescissions?

    “I’ve made really clear where I stand. I want us to keep working together to write bipartisan bills that allow us to be a strong voice for our constituents. That’s going to prove very difficult, and maybe even impossible, if this body goes down the path Trump is now calling for, a path that would let partisan rescissions rip up our bipartisan agreements.

    “I hope my colleagues will join me in rejecting this destructive request outright, and ensuring decisions about what we fund, and even potential rescissions, are made by us through the annual appropriations process.”

    MIL OSI USA News –

  • MIL-OSI New Zealand: Jewel thieves busted after offloading loot

    Source: New Zealand Police

    A pair of alleged burglars discovered there is no distance Police won’t cover when it comes to holding people accountable for their crimes.

    Auckland Central Police have been investigating a burglary at a High Street jewellery store on 30 May.

    “Enquiries carried out by our staff revealed the alleged offenders used a rented vehicle to leave the scene,” Auckland City Area Investigations Manager Detective Senior Sergeant Martin Friend says.

    “Further enquires carried out identified two individuals who reside in Ōpōtiki as being allegedly involved in the burglary.”

    With the offender’s identified, the Auckland Central Tactical Crime Unit were able to establish the property had been taken into pawn shops in Rotorua.

    “In total they have pawned 17 items of the stolen jewellery at a second-hand dealer, which we have been able to recover,” Detective Senior Sergeant Friend says.

    “It’s another great result in Auckland Central in holding retail crime to account.

    “We are sending a clear message that this type of brazen offending will not be tolerated.

    A man and woman were arrested in Ōpōtiki this week and are before the Whakatāne District Court.

    A 30-year-old female will appear on 1 July charged with receiving stolen property and being in a stolen vehicle.

    A 27-year-old male was remanded in custody to appear on 17 July, charged with the unlawful taking of a motor vehicle and two counts of burglary.

    ENDS

    Amanda Wieneke/NZ Police
     

    MIL OSI New Zealand News –

  • MIL-OSI Security: [Kaahn Quest 2025] 125th Finance Battalion Leads Combined Operations Center

    Source: United States INDO PACIFIC COMMAND

    FIVE HILLS TRAINING AREA, Mongolia — As the Army Forces Command element for Khaan Quest 25, the 125th Finance Battalion, 8th Military Police Brigade, 8th Theater Sustainment Command is taking the lead on more than just contracting and finance operations, from June 14 – 29, 2025, here.

    MIL Security OSI –

  • MIL-OSI Security: Fugitive’s Accomplice Killed as U.S. Marshals, Puerto Rico Police Arrest Most Wanted in Mayaguez

    Source: US Marshals Service

    Hato Rey, PR – One person was killed as the U.S. Marshals Violent Offenders Task Force and Puerto Rico Police early Monday arrested in Mayaguez a man wanted for attempted murder and other charges on a warrant that carried a bail of $1.2 million.

    Jose M. Rodriguez-Torres, aka “La J,” 26, the subject of the arrest and one of Puerto Rico’s 10 Most Wanted fugitives, was wanted on a state warrant for attempted murder, possession, transportation and use of firearms without a license, and tampering with an electronic monitoring device.

    Rodríguez-Torres had removed his electronic monitoring bracelet during his trial for the 2021 attempted murder of the chief executive of the company Flan-es-Cedó. He had been convicted in absentia for a June 27, 2021, massacre on PR-3345 in the Lavadero neighborhood of Hormigueros, where two brothers were killed, and was sentenced to 229 years in prison for that case. In addition, he had an active federal warrant issued in 2023 for drug trafficking and firearms charges.

    While law enforcement officers were executing the arrest warrant, they identified Rodríguez-Torres, along with two other individuals in a car. When the fugitive spotted the agents, he attempted to flee, driving against traffic until crashing into an official vehicle.

    According to preliminary reports, one of the rear passengers brandished a black firearm, prompting agents to return fire. The individual was identified as José A. Chevrés Ramos, 29, a resident of Cabo Rojo with a prior criminal record for robbery. He was fatally shot by agents during the pursuit. Chevrés Ramos also had pending warrants for his arrest.

    The FBI and the Puerto Rico Special Investigations Bureau assisted in the investigation but did not assume jurisdiction. The Criminal Investigation Corps of the Puerto Rico Police Department is handling the investigation, and the state prosecutor’s office has formally filed charges with the court. The judge found cause for all the charges filed against Rodríguez-Torres and Eliezer Graniela-Barreto (also a passenger in the vehicle), including attempted murder of federal agents and pointing a firearm at law enforcement.

    A bail bond of $4,200,000 was set but not posted, and both individuals were subsequently booked into state prison.

    Three firearms were seized from the vehicle and will be analyzed by the Forensic Sciences Institute’s ballistics laboratory. Two of the three weapons had been modified to fire automatically.

    “Our communities can trust that our Deputy U.S. Marshals, together with our partners from the Puerto Rico Police Department, will not relent in their efforts to remove violent offenders from our streets and bring them to justice,” said Wilmer Ocasio-Ibarra, U.S. Marshal for the District of Puerto Rico. “Enforcing the law and ensuring public safety is dangerous work, and unfortunately, incidents like these are sometimes the result. We always urge fugitives to surrender, accept responsibility, and face the consequences of their actions. However, we will not stop. We will continue to search for them and fulfill our mission as agents of law and order.”

    The U.S. Marshals Service encourages the community to continue to collaborate with our deputies on tips that help find the whereabouts of a fugitive by contacting our local office at (787) 766-6540, calling the U.S. Marshals Service Communication Center at 1 (800) 336-0102, or submitting tips using the USMS Tips App.

    MIL Security OSI –

  • MIL-OSI USA: ICYMI: Op-ed from Sen. Lummis & Anne Bradbury: Bad tax policy is holding back America’s energy engine. Let’s fix it.

    US Senate News:

    Source: United States Senator for Wyoming Cynthia Lummis

    Washington, D.C. – Senator Cynthia Lummis (R-WY) and Anne Bradbury (CEO of the American Exploration & Production Council) published an op-ed this week in Oil City News highlighting how we can fulfill President Trump’s pledge to unleash Wyoming and American energy by fixing tax policy surrounding Intangible Drilling Cost (IDCs).

    Read the full op-ed here and below.

    Oil City News- Bad tax policy is holding back America’s energy engine. Let’s fix it

    As the Senate works to advance reconciliation legislation known as “The One, Big, Beautiful Bill,” one critical piece of America’s energy production engine must be addressed: the tax treatment of Intangible Drilling Costs for America’s independent oil and natural gas producers. Allowing for the immediate expensing of IDCs powered domestic energy production for over a century and fixing their treatment remains vital to sustaining the success of energy-rich states like Wyoming — and to U.S. energy security.

    IDCs are ordinary business expenses incurred in the exploration, development, and drilling of new wells, including wages, repairs, supplies, fuel, surveying and ground clearing. They can account for up to 80% of a producer’s total costs, the bulk of which are tied to jobs and labor. These costs are real capital outlays that nearly every capital-intensive industry can deduct immediately and, in turn, redeploy as investment. For America’s independent producers, that means hiring more workers, drilling new wells, and expanding energy production.

    For decades, the U.S. tax code appropriately allowed independent producers to deduct these essential capital costs in the year they’re incurred. But the 2022 Inflation Reduction Act abruptly changed that by reintroducing the corporate alternative minimum tax and penalizing America’s energy producers as a result. In short, under the CAMT, independent producers can’t immediately deduct their IDCs anymore, resulting in less capital for reinvestment, fewer jobs, lower production, and higher energy costs.

    This Biden-era policy not only singles out America’s energy producers but also hurts states like Wyoming that are essential to securing our energy dominance. A targeted legislative fix would restore fair, equitable treatment of these capital expenses that are essential to American energy production and help ensure the long-term strength of American-made oil and gas.

    Wyoming is one of the most important energy exporters in the country, producing nearly 12 times the energy it consumes. The state ranks eighth in both crude oil and natural gas production and is the second-largest producer of both oil and gas on federal lands. When Washington changes national energy tax policy, Wyoming’s energy industry and its workers are disproportionally hit.

    In 2021, the oil and natural gas industry supported over 58,000 jobs in Wyoming and contributed $5.7 billion in labor income. In 2022 alone, oil and gas generated over $1.7 billion in property and severance taxes for the state. That revenue funds our schools, roads, emergency services, and more. Over the past six years, the industry has delivered more than $11 billion to support Wyoming’s public needs — amounting to about $4,143 in direct benefits per Wyoming resident in 2023. That’s money that helps keep individual taxpayers’ burdens lower than many other states.

    These benefits depend on continued investment, which in turn depends on stable, competitive tax policies like the ability to immediately deduct IDCs. Imposing this tax penalty through the IRA made it significantly more expensive to drill new wells – hurting domestic operators, reducing projects, and making us more dependent on foreign sources of energy.

    It also hits the American worker. Over 90% of U.S. oil and gas wells are developed by independent producers. Here in Wyoming, that means the operators across our energy-rich counties — like Campbell, Johnson, Laramie, Sublette, and more — that are hiring local workers, reinvesting into their communities, and building the infrastructure that brings reliable energy to American homes and businesses. In Wyoming and across the country, these jobs form the backbone of rural economies and energy communities.

    Restoring the immediate expensing of IDCs as the Senate Finance Committee has proposed, is one of the smartest things we can do to ensure our country remains energy independent, economically strong, and geopolitically resilient. It’s critical Congress recognizes the importance of including this tax provision in The One, Big, Beautiful Bill — not just for Wyoming, but for all of America.

    —

    Sen. Cynthia Lummis, R-WY

    Anne Bradbury, CEO of the American Exploration & Production Council

    MIL OSI USA News –

  • MIL-OSI USA: ICYMI: Op-ed from Sen. Lummis & Anne Bradbury: Bad tax policy is holding back America’s energy engine. Let’s fix it.

    US Senate News:

    Source: United States Senator for Wyoming Cynthia Lummis
    Washington, D.C. – Senator Cynthia Lummis (R-WY) and Anne Bradbury (CEO of the American Exploration & Production Council) published an op-ed this week in Oil City News highlighting how we can fulfill President Trump’s pledge to unleash Wyoming and American energy by fixing tax policy surrounding Intangible Drilling Cost (IDCs).
    Read the full op-ed here and below.
    Oil City News- Bad tax policy is holding back America’s energy engine. Let’s fix it
    As the Senate works to advance reconciliation legislation known as “The One, Big, Beautiful Bill,” one critical piece of America’s energy production engine must be addressed: the tax treatment of Intangible Drilling Costs for America’s independent oil and natural gas producers. Allowing for the immediate expensing of IDCs powered domestic energy production for over a century and fixing their treatment remains vital to sustaining the success of energy-rich states like Wyoming — and to U.S. energy security.
    IDCs are ordinary business expenses incurred in the exploration, development, and drilling of new wells, including wages, repairs, supplies, fuel, surveying and ground clearing. They can account for up to 80% of a producer’s total costs, the bulk of which are tied to jobs and labor. These costs are real capital outlays that nearly every capital-intensive industry can deduct immediately and, in turn, redeploy as investment. For America’s independent producers, that means hiring more workers, drilling new wells, and expanding energy production.
    For decades, the U.S. tax code appropriately allowed independent producers to deduct these essential capital costs in the year they’re incurred. But the 2022 Inflation Reduction Act abruptly changed that by reintroducing the corporate alternative minimum tax and penalizing America’s energy producers as a result. In short, under the CAMT, independent producers can’t immediately deduct their IDCs anymore, resulting in less capital for reinvestment, fewer jobs, lower production, and higher energy costs.
    This Biden-era policy not only singles out America’s energy producers but also hurts states like Wyoming that are essential to securing our energy dominance. A targeted legislative fix would restore fair, equitable treatment of these capital expenses that are essential to American energy production and help ensure the long-term strength of American-made oil and gas.
    Wyoming is one of the most important energy exporters in the country, producing nearly 12 times the energy it consumes. The state ranks eighth in both crude oil and natural gas production and is the second-largest producer of both oil and gas on federal lands. When Washington changes national energy tax policy, Wyoming’s energy industry and its workers are disproportionally hit.
    In 2021, the oil and natural gas industry supported over 58,000 jobs in Wyoming and contributed $5.7 billion in labor income. In 2022 alone, oil and gas generated over $1.7 billion in property and severance taxes for the state. That revenue funds our schools, roads, emergency services, and more. Over the past six years, the industry has delivered more than $11 billion to support Wyoming’s public needs — amounting to about $4,143 in direct benefits per Wyoming resident in 2023. That’s money that helps keep individual taxpayers’ burdens lower than many other states.
    These benefits depend on continued investment, which in turn depends on stable, competitive tax policies like the ability to immediately deduct IDCs. Imposing this tax penalty through the IRA made it significantly more expensive to drill new wells – hurting domestic operators, reducing projects, and making us more dependent on foreign sources of energy.
    It also hits the American worker. Over 90% of U.S. oil and gas wells are developed by independent producers. Here in Wyoming, that means the operators across our energy-rich counties — like Campbell, Johnson, Laramie, Sublette, and more — that are hiring local workers, reinvesting into their communities, and building the infrastructure that brings reliable energy to American homes and businesses. In Wyoming and across the country, these jobs form the backbone of rural economies and energy communities.
    Restoring the immediate expensing of IDCs as the Senate Finance Committee has proposed, is one of the smartest things we can do to ensure our country remains energy independent, economically strong, and geopolitically resilient. It’s critical Congress recognizes the importance of including this tax provision in The One, Big, Beautiful Bill — not just for Wyoming, but for all of America.
    —
    Sen. Cynthia Lummis, R-WY
    Anne Bradbury, CEO of the American Exploration & Production Council

    MIL OSI USA News –

  • MIL-OSI USA: ICYMI: Op-ed from Sen. Lummis & Anne Bradbury: Bad tax policy is holding back America’s energy engine. Let’s fix it.

    US Senate News:

    Source: United States Senator for Wyoming Cynthia Lummis

    Washington, D.C. – Senator Cynthia Lummis (R-WY) and Anne Bradbury (CEO of the American Exploration & Production Council) published an op-ed this week in Oil City News highlighting how we can fulfill President Trump’s pledge to unleash Wyoming and American energy by fixing tax policy surrounding Intangible Drilling Cost (IDCs).

    Read the full op-ed here and below.

    Oil City News- Bad tax policy is holding back America’s energy engine. Let’s fix it

    As the Senate works to advance reconciliation legislation known as “The One, Big, Beautiful Bill,” one critical piece of America’s energy production engine must be addressed: the tax treatment of Intangible Drilling Costs for America’s independent oil and natural gas producers. Allowing for the immediate expensing of IDCs powered domestic energy production for over a century and fixing their treatment remains vital to sustaining the success of energy-rich states like Wyoming — and to U.S. energy security.

    IDCs are ordinary business expenses incurred in the exploration, development, and drilling of new wells, including wages, repairs, supplies, fuel, surveying and ground clearing. They can account for up to 80% of a producer’s total costs, the bulk of which are tied to jobs and labor. These costs are real capital outlays that nearly every capital-intensive industry can deduct immediately and, in turn, redeploy as investment. For America’s independent producers, that means hiring more workers, drilling new wells, and expanding energy production.

    For decades, the U.S. tax code appropriately allowed independent producers to deduct these essential capital costs in the year they’re incurred. But the 2022 Inflation Reduction Act abruptly changed that by reintroducing the corporate alternative minimum tax and penalizing America’s energy producers as a result. In short, under the CAMT, independent producers can’t immediately deduct their IDCs anymore, resulting in less capital for reinvestment, fewer jobs, lower production, and higher energy costs.

    This Biden-era policy not only singles out America’s energy producers but also hurts states like Wyoming that are essential to securing our energy dominance. A targeted legislative fix would restore fair, equitable treatment of these capital expenses that are essential to American energy production and help ensure the long-term strength of American-made oil and gas.

    Wyoming is one of the most important energy exporters in the country, producing nearly 12 times the energy it consumes. The state ranks eighth in both crude oil and natural gas production and is the second-largest producer of both oil and gas on federal lands. When Washington changes national energy tax policy, Wyoming’s energy industry and its workers are disproportionally hit.

    In 2021, the oil and natural gas industry supported over 58,000 jobs in Wyoming and contributed $5.7 billion in labor income. In 2022 alone, oil and gas generated over $1.7 billion in property and severance taxes for the state. That revenue funds our schools, roads, emergency services, and more. Over the past six years, the industry has delivered more than $11 billion to support Wyoming’s public needs — amounting to about $4,143 in direct benefits per Wyoming resident in 2023. That’s money that helps keep individual taxpayers’ burdens lower than many other states.

    These benefits depend on continued investment, which in turn depends on stable, competitive tax policies like the ability to immediately deduct IDCs. Imposing this tax penalty through the IRA made it significantly more expensive to drill new wells – hurting domestic operators, reducing projects, and making us more dependent on foreign sources of energy.

    It also hits the American worker. Over 90% of U.S. oil and gas wells are developed by independent producers. Here in Wyoming, that means the operators across our energy-rich counties — like Campbell, Johnson, Laramie, Sublette, and more — that are hiring local workers, reinvesting into their communities, and building the infrastructure that brings reliable energy to American homes and businesses. In Wyoming and across the country, these jobs form the backbone of rural economies and energy communities.

    Restoring the immediate expensing of IDCs as the Senate Finance Committee has proposed, is one of the smartest things we can do to ensure our country remains energy independent, economically strong, and geopolitically resilient. It’s critical Congress recognizes the importance of including this tax provision in The One, Big, Beautiful Bill — not just for Wyoming, but for all of America.

    —

    Sen. Cynthia Lummis, R-WY

    Anne Bradbury, CEO of the American Exploration & Production Council

    MIL OSI USA News –

  • MIL-OSI USA: Padilla Blasts Judicial Nominee Emil Bove for Holding Loyalty to Trump Above the Rule of Law

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)

    Padilla Blasts Judicial Nominee Emil Bove for Holding Loyalty to Trump Above the Rule of Law

    WATCH: Padilla presses Bove on his repeated lies and abuse of power

    WASHINGTON, D.C. — Today, U.S. Senator Alex Padilla (D-Calif.) pressed Third Circuit Court of Appeals nominee Emil Bove on his extensive track record of lies, poor temperament, and political retribution during his Senate Judiciary Committee nominations hearing. Padilla slammed Bove for his role in firing dozens of Department of Justice (DOJ) prosecutors who worked on January 6 cases and the DOJ’s decision to drop the corruption charges against New York Mayor Eric Adams in exchange for assistance with President Trump’s mass deportations.

    Bove joined the Trump Administration’s DOJ in January 2025, first as Principal Deputy Attorney General and then Acting Deputy Attorney General, and has been integrally involved in some of the most significant Trump DOJ scandals. He also recently served as Trump’s personal lawyer in Trump’s classified documents case, a 2020 election interference case, and the Stormy Daniels hush money case.

    Padilla underscored that Bove’s nomination represents the latest example of Trump picking nominees not based on qualifications, but based on personal loyalty. He highlighted Bove’s consistent pattern of undermining the rule of law for political purposes, including purging the DOJ of employees prosecuting the January 6 rioters. Bove, who had himself worked on January 6 cases while an Assistant United States Attorney for the Southern District of New York, called the January 6 prosecutions “a grave national injustice,” and ordered the Federal Bureau of Investigation (FBI) to produce a list of everyone involved in them.

    • “It’s become clear that President Trump clearly has one litmus test when selecting people to appoint: it’s not experience, it’s not dedication to our country or the rule of law, it’s whether or not the potential nominee is willing to bend or ignore the law to satisfy the President’s whims. Now, I understand that elections have consequences, and one consequence is that a president who is elected will get to nominate judges for the duration of his term or her term, but selecting someone with such a deep track record of vindictive, duplicitous behavior, of abuse of power — that is and must be treated as unacceptable.”
    • “From Mr. Bove’s time with the Southern District of New York, to his time representing Donald Trump, to his time at the Trump Justice Department, it’s been demonstrated that he will not let the law stand in the way of doing what he wants. That’s why, as soon as Mr. Bove joined the Justice Department in an acting, unconfirmed capacity, he began an effort to purge the Department of Justice of perceived, ‘enemies,’ like the January 6 prosecutors.”

    Bove repeatedly sidestepped Senator Padilla’s questions on the January 6 insurrection, admitting he did not even know how many of the January 6 prosecutors were fired, and how many January 6 rioters President Trump pardoned. Padilla emphasized that Trump himself did not know the exact number of pardons, but estimated around 1,500 people — an impossible number to thoroughly vet before pardoning them. He warned of the dangerous message the condoning of political violence sends to the American people.

    • “To think that on the first day in office, he would have considered case by case, that volume of files to make the determination that they should be pardoned — that’s clearly not believable, and we know that dozens of those pardoned had prior criminal records, including rape, sexual abuse of a minor, domestic violence, and more.”

    Padilla also blasted Bove for his involvement in the decision to dismiss criminal corruption charges against Mayor Adams in exchange for his assistance in enacting the Trump Administration’s cruel anti-immigrant agenda.

    • “Mr. Bove’s actions in this case led eight prosecutors, eight, including the interim U.S. attorney Danielle Sassoon, who had clerked for Justice Scalia, to resign. But instead of firing him, Donald Trump plans to give him a lifetime appointment to the Third Circuit Court of Appeals in New Jersey, a state that Mr. Bove has very, very little ties to.”

    Watch Senator Padilla’s questioning of Bove here.

    Additionally, Padilla asked a second panel of four Trump judicial nominees, all nominated to the District Courts in Florida, a series of questions about whether the Executive Branch — including the President — must follow court orders.

    Earlier this week, Senator Padilla joined Senate Judiciary Democrats in requesting personnel records relevant to Emil Bove from Interim U.S. Attorney for the Southern District of New York Jay Clayton. Padilla and Senate Judiciary Democrats previously filed a professional misconduct complaint against Bove with the New York State Bar, citing reported misconduct in moving to dismiss charges against New York City Mayor Eric Adams. The Senators expressed grave concern over Bove’s actions and requested a disciplinary investigation.

    More information on the hearing is available here.

    MIL OSI USA News –

  • MIL-OSI USA: Padilla Blasts Judicial Nominee Emil Bove for Holding Loyalty to Trump Above the Rule of Law

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)

    Padilla Blasts Judicial Nominee Emil Bove for Holding Loyalty to Trump Above the Rule of Law

    WATCH: Padilla presses Bove on his repeated lies and abuse of power

    WASHINGTON, D.C. — Today, U.S. Senator Alex Padilla (D-Calif.) pressed Third Circuit Court of Appeals nominee Emil Bove on his extensive track record of lies, poor temperament, and political retribution during his Senate Judiciary Committee nominations hearing. Padilla slammed Bove for his role in firing dozens of Department of Justice (DOJ) prosecutors who worked on January 6 cases and the DOJ’s decision to drop the corruption charges against New York Mayor Eric Adams in exchange for assistance with President Trump’s mass deportations.

    Bove joined the Trump Administration’s DOJ in January 2025, first as Principal Deputy Attorney General and then Acting Deputy Attorney General, and has been integrally involved in some of the most significant Trump DOJ scandals. He also recently served as Trump’s personal lawyer in Trump’s classified documents case, a 2020 election interference case, and the Stormy Daniels hush money case.

    Padilla underscored that Bove’s nomination represents the latest example of Trump picking nominees not based on qualifications, but based on personal loyalty. He highlighted Bove’s consistent pattern of undermining the rule of law for political purposes, including purging the DOJ of employees prosecuting the January 6 rioters. Bove, who had himself worked on January 6 cases while an Assistant United States Attorney for the Southern District of New York, called the January 6 prosecutions “a grave national injustice,” and ordered the Federal Bureau of Investigation (FBI) to produce a list of everyone involved in them.

    • “It’s become clear that President Trump clearly has one litmus test when selecting people to appoint: it’s not experience, it’s not dedication to our country or the rule of law, it’s whether or not the potential nominee is willing to bend or ignore the law to satisfy the President’s whims. Now, I understand that elections have consequences, and one consequence is that a president who is elected will get to nominate judges for the duration of his term or her term, but selecting someone with such a deep track record of vindictive, duplicitous behavior, of abuse of power — that is and must be treated as unacceptable.”
    • “From Mr. Bove’s time with the Southern District of New York, to his time representing Donald Trump, to his time at the Trump Justice Department, it’s been demonstrated that he will not let the law stand in the way of doing what he wants. That’s why, as soon as Mr. Bove joined the Justice Department in an acting, unconfirmed capacity, he began an effort to purge the Department of Justice of perceived, ‘enemies,’ like the January 6 prosecutors.”

    Bove repeatedly sidestepped Senator Padilla’s questions on the January 6 insurrection, admitting he did not even know how many of the January 6 prosecutors were fired, and how many January 6 rioters President Trump pardoned. Padilla emphasized that Trump himself did not know the exact number of pardons, but estimated around 1,500 people — an impossible number to thoroughly vet before pardoning them. He warned of the dangerous message the condoning of political violence sends to the American people.

    • “To think that on the first day in office, he would have considered case by case, that volume of files to make the determination that they should be pardoned — that’s clearly not believable, and we know that dozens of those pardoned had prior criminal records, including rape, sexual abuse of a minor, domestic violence, and more.”

    Padilla also blasted Bove for his involvement in the decision to dismiss criminal corruption charges against Mayor Adams in exchange for his assistance in enacting the Trump Administration’s cruel anti-immigrant agenda.

    • “Mr. Bove’s actions in this case led eight prosecutors, eight, including the interim U.S. attorney Danielle Sassoon, who had clerked for Justice Scalia, to resign. But instead of firing him, Donald Trump plans to give him a lifetime appointment to the Third Circuit Court of Appeals in New Jersey, a state that Mr. Bove has very, very little ties to.”

    Watch Senator Padilla’s questioning of Bove here.

    Additionally, Padilla asked a second panel of four Trump judicial nominees, all nominated to the District Courts in Florida, a series of questions about whether the Executive Branch — including the President — must follow court orders.

    Earlier this week, Senator Padilla joined Senate Judiciary Democrats in requesting personnel records relevant to Emil Bove from Interim U.S. Attorney for the Southern District of New York Jay Clayton. Padilla and Senate Judiciary Democrats previously filed a professional misconduct complaint against Bove with the New York State Bar, citing reported misconduct in moving to dismiss charges against New York City Mayor Eric Adams. The Senators expressed grave concern over Bove’s actions and requested a disciplinary investigation.

    More information on the hearing is available here.

    MIL OSI USA News –

  • MIL-OSI Europe: Green light for a new model for financing and risk sharing for investments in new nuclear power

    Source: Government of Sweden

    Sweden faces considerable problems with volatile electricity prices for households and businesses and imbalances in the electricity system. To deal with this, the fossil-free base load needs to be expanded. In March 2025, the Government adopted the Financing and risk sharing in new nuclear power Government Bill, which included proposals for state aid to companies that want to invest in nuclear reactors. The Riksdag has now decided to adopt the Government’s proposal.

    MIL OSI Europe News –

  • MIL-OSI Europe: Swedish economy remains in recession but conditions for recovery show promise

    Source: Government of Sweden

    The recovery that began in the second half of 2024 has slowed, and the Swedish economy remains in protracted recession. This is largely due to increased geopolitical uncertainty. However, rising real wages and lower interest rates suggest that the recovery will gain momentum in the second half of 2025. Minister for Finance Elisabeth Svantesson has presented the latest economic forecast from the Ministry of Finance.

    MIL OSI Europe News –

  • MIL-OSI: Electronic Health Records (EHR) Market Valued at USD 33.45 Billion in 2024, Set to Grow at 4.59% CAGR Through 2032 | AnalystView Market Insights

    Source: GlobeNewswire (MIL-OSI)

    San Francisco, USA, June 25, 2025 (GLOBE NEWSWIRE) — The Electronic Health Records (EHR) market was valued at USD 33,451.20 million in 2024 and is projected to grow at a CAGR of 4.59% from 2025 to 2032. This growth is driven by the global shift toward digital healthcare infrastructure, government mandates for record standardization, and the rising demand for efficient patient data management across hospitals, clinics, and ambulatory care centers. EHR systems are digital versions of a patient’s paper chart, offering real-time, patient-centered records that make information instantly and securely available to authorized users. They are critical for improving coordination between care providers, minimizing medical errors, and enhancing overall clinical outcomes.

    Government initiatives worldwide are playing a key role in promoting EHR adoption. Programs such as the U.S. HITECH Act, the EU’s digital health transformation goals, and India’s Ayushman Bharat Digital Mission are pushing healthcare providers toward digitization. At the same time, the rise of value-based care, telehealth, and mobile health applications has increased the need for interoperable and cloud-based EHR systems. The market is witnessing significant technological advancements, including integration with AI, predictive analytics, and mobile platforms, which enable better clinical decision-making and patient engagement. However, challenges such as high implementation costs, data privacy concerns, and interoperability issues between different systems remain key hurdles, particularly in emerging markets.

    North America dominates the global EHR market, backed by strong digital infrastructure and initiatives like the U.S. HITECH Act, which allocated over $35 billion to promote EHR adoption. Meanwhile, Asia-Pacific is emerging as the fastest-growing region, fueled by rising healthcare investments—India’s health budget rose 13% in 2023—and national digitization drives like China’s “Healthy China 2030.” Supportive policies, growing urbanization, and expanding patient volumes are accelerating EHR integration across the region, attracting global players and investors alike.

    Unlock in-depth insights and forecasts – Get your FREE sample report of the EHR market today: https://analystviewmarketinsights.com/request_sample/AV4020

    Key Players- Detailed Competitive Insights

    • Cerner Corporation
    • GE Healthcare
    • Veradigm LLC
    • Epic Systems Corporation
    • eClinicalWorks
    • Greenway Health, LLC
    • NextGen Healthcare, Inc.
    • Medical Information Technology, Inc.
    • CPSI
    • AdvancedMD, Inc.
    • Allscripts Healthcare Solutions
    • MEDHOST
    • Athenahealth
    • McKesson Corporation
    • Siemens Healthineers
    • Oracle Corporation

    Market Dynamics

    Drivers

    1. Government Mandates and Incentives: Many countries are accelerating Electronic Health Records (EHR) adoption through targeted policies. In the U.S., CMS’s Promoting Interoperability Program ties Medicare reimbursements to EHR usage. Germany’s Hospital Future Act allocated €4.3 billion for digital upgrades, while Australia’s My Health Record achieved over 90% population coverage. India’s Ayushman Bharat Digital Mission aims to create a unified health ID system, promoting seamless data exchange. These initiatives are driving global healthcare digitalization and fostering integrated patient care systems.
    2. Rising Demand for Streamlined Healthcare Delivery: For example, Mayo Clinic uses integrated EHRs to reduce duplication, streamline workflows, and access real-time patient data—cutting documentation time and improving care coordination across departments and specialties. 
    3. Growth in Telehealth and Remote Monitoring: The global shift toward telemedicine post-COVID-19 has increased the need for centralized digital records that can be accessed remotely. This trend is pushing both public and private healthcare providers to invest in cloud-based and interoperable EHR systems.
    4. Data-Driven Decision Making in Healthcare: As data becomes a core asset in personalized medicine and value-based care models, EHRs serve as critical repositories of patient history, lab reports, medications, and imaging data.

    Challenges

    • High Implementation and Maintenance Costs: The cost of deploying EHR software, training staff, and maintaining IT infrastructure can be prohibitive for small healthcare facilities, especially in developing nations.
    • Interoperability and Data Security Concerns: Although EHRs are designed to improve information sharing, achieving true interoperability across different systems remains a challenge. Moreover, the sensitive nature of health data makes security and compliance with data protection regulations (like HIPAA and GDPR) a critical issue.

    Opportunities

    • Integration with AI and analytics in EHRs enables predictive insights—such as Mount Sinai Hospital using AI models within EHRs to identify sepsis risk early, improving response time and patient outcomes. This innovation is driving demand for intelligent, data-driven systems.
    • Mobile and Cloud-Based EHRs: The adoption of mobile health apps and cloud platforms enables real-time access to health data, especially beneficial in rural and underserved regions.

    Regional Insights

    North America

    North America holds 42.50% of the global EHR market, driven by the U.S.’s early adoption and digital health funding. Epic Systems powers major hospital networks like Kaiser Permanente, while Canada’s Infoway initiative accelerates EHR integration, ensuring secure, interoperable data across provinces.

    Europe

    Europe is a mature yet fragmented market for EHRs. Countries like Germany, the UK, and the Netherlands are progressing well in EHR integration, while others lag due to privacy concerns and inconsistent digital policies. The EU’s push toward unified health records under the European Health Data Space initiative could streamline EHR adoption across member states.

    Asia-Pacific

    The Asia-Pacific region is projected to witness the fastest growth during the forecast period. Rapid urbanization, increased healthcare spending, and the digitalization efforts in countries like India, China, and Australia are major contributors. Government-backed programs such as India’s Ayushman Bharat Digital Mission and China’s Smart Healthcare initiative are significantly driving EHR deployment.

    Latin America & Middle East

    Both regions are gradually embracing EHR systems. Brazil, Saudi Arabia, and the UAE have initiated digital health reforms. However, budget constraints and a lack of infrastructure remain key barriers. International partnerships and private investments are expected to unlock growth potential in these markets.

    TABLE OF CONTENT

    1. Electronic Health Records Market Overview
    1.1. Study Scope
    1.2. Market Estimation Years
    2. Executive Summary
    2.1. Market Snippet
    2.1.1. Electronic Health Records Market Snippet By Product
    2.1.2. Electronic Health Records Market Snippet By Type
    2.1.3. Electronic Health Records Market Snippet By Business Model
    2.1.4. Electronic Health Records Market Snippet By Application
    2.1.5. Electronic Health Records Market Snippet By End Use
    2.1.6. Electronic Health Records Market Snippet by Country
    2.1.7. Electronic Health Records Market Snippet by Region
    2.2. Competitive Insights
    3. Electronic Health Records Key Market Trends
    3.1. Electronic Health Records Market Drivers
    3.1.1. Impact Analysis of Market Drivers
    3.2. Electronic Health Records Market Restraints
    3.2.1. Impact Analysis of Market Restraints
    3.3. Electronic Health Records Market Opportunities
    3.4. Electronic Health Records Market Future Trends
    4. Electronic Health Records Industry Study
    4.1. PEST Analysis
    4.2. Porter’s Five Forces Analysis
    4.3. Growth Prospect Mapping
    4.4. Regulatory Framework Analysis
    5. Electronic Health Records Market: Impact of Escalating Geopolitical Tensions
    5.1. Impact of COVID-19 Pandemic
    5.2. Impact of Russia-Ukraine War
    5.3. Impact of Middle East Conflicts
    6. Electronic Health Records Market Landscape
    6.1. Electronic Health Records Market Share Analysis, 2024
    6.2. Breakdown Data, by Key Manufacturer
    6.2.1. Established Players’ Analysis
    6.2.2. Emerging Players’ Analysis
    7. Electronic Health Records Market – By Product
    7.1. Overview
    7.1.1. Segment Share Analysis, By Product, 2024 & 2032 (%)
    7.1.2. On-premises
    7.1.3. Web & Cloud-Based EHR
    8. Electronic Health Records Market – By Type
    8.1. Overview
    8.1.1. Segment Share Analysis, By Type, 2024 & 2032 (%)
    8.1.2. Acute
    8.1.3. Outpatient
    8.1.4. Post Acute
    9. Electronic Health Records Market – By Business Model
    9.1. Overview
    9.1.1. Segment Share Analysis, By Business Model, 2024 & 2032 (%)
    9.1.2. Licensed Software
    9.1.3. Technology Resale
    9.1.4. Subscriptions
    9.1.5. Professional Services
    9.1.6. Others
    10. Electronic Health Records Market – By Application
    10.1. Overview
    10.1.1. Segment Share Analysis, By Application, 2024 & 2032 (%)
    10.1.2. Cardiology
    10.1.3. Neurology
    10.1.4. Radiology ………

    Reasons to Invest in the EHR Market

    1. Essential Role in Modern Healthcare Systems
      EHRs are no longer optional but a fundamental part of modern healthcare. As hospitals strive to improve patient care, safety, and efficiency, EHRs serve as a backbone for digital health ecosystems.
    2. Regulatory Push and Compliance Standards
      Investment in compliant EHR systems helps healthcare providers align with stringent data protection laws while avoiding penalties and securing patient trust.
    3. Increasing Healthcare Expenditure
      Globally, healthcare budgets are expanding. A significant portion is being directed toward digital infrastructure, making EHR vendors prime beneficiaries of government and institutional funding.
    4. Rising Adoption of Cloud and AI Technologies
      EHR vendors integrating cloud capabilities and AI features offer enhanced scalability, analytics, and patient engagement. These smart EHRs are more future-proof and attractive to investors.
    5. Long-Term Cost Benefits for Healthcare Providers
      Despite initial costs, EHR systems lead to long-term savings by reducing administrative workload, avoiding duplication of tests, and minimizing errors.

    Future Outlook

    The Electronic Health Records (EHR) market is poised for a tech-driven evolution, with AI integration, cloud-based platforms, and interoperability leading the way. By 2032, real-time data exchange, as seen in the U.K.’s NHS Federated Data Platform and India’s Ayushman Bharat Digital Mission, will become standard.

    Growing cybersecurity investments and patient-centric innovations are redefining EHR functionality. With global healthcare systems embracing value-based care, the market is set for intelligent, adaptive, and patient-connected growth worldwide.

    Discover the Full Study : https://analystviewmarketinsights.com/reports/report-highlight-electronic-health-records-market

    Explore More Research Titles in the Healthcare Category by AnalystView Market Insights:

    The MIL Network –

  • MIL-OSI: Eureka Acquisition Corp Announces Revised Contribution to Trust Account and Terms and Conditions in Connection with Proposed Charter Amendment

    Source: GlobeNewswire (MIL-OSI)

    New York, June 25, 2025 (GLOBE NEWSWIRE) — Eureka Acquisition Corp (the “Company”) (Nasdaq: EURK), a blank check company, today announced that in connection with its previously announced extraordinary general meeting in lieu of an annual general meeting of shareholders to be held on June 30, 2025, at 9:00 a.m., Eastern Time (the “Extraordinary General Meeting”), the Company has revised the contribution to its trust account and the terms and conditions in connection with the proposal to amend the Company’s current Charter (the “Charter Amendment Proposal”).

    The Charter Amendment Proposal provides that the Company has until July 3, 2025 to complete a business combination, and may elect to extend the period to consummate a business combination up to 12 times, each by an additional one-month extension (the “Monthly Extension”), for a total of up to 12 months to July 3, 2026.

    In connection with the Charter Amendment Proposal, the revised terms and conditions (the “Revised Terms”), among the others, include:

    • If the Charter Amendment Proposal is approved, for each Monthly Extension, the amount of $150,000 shall be deposited into the trust account of the Company (the “Revised Monthly Extension Fee”) (as compared to the originally proposed amount as the lesser of (i) $60,000 for all remaining public shares and (ii) $0.03 for each remaining public share);
    • The Company will file the Current Report on Form 8-K to disclose the deposit of each Revised Monthly Extension Fee timely;
    • In the event that the Revised Monthly Extension Fee is not being deposited into the trust account by the 3rd day of each month since July 3, 2025, the Company has a period of thirty (30) days (the “Cure Period”) to pay any applicable past due payment for the Revised Monthly Extension Fee. If the Company fails to make any applicable past due payment during the Cure Period, then the Company shall immediately cease all operations, except for the purpose of winding up, and liquidate and dissolve with the same effect as if the Company failed to complete a business combination within the prescribed timeline; and
    • The Company will not withdraw any amount out of the interest from the trust account to pay its dissolution expenses.

    The record date for determining the Company shareholders entitled to receive notice of and to vote at the Extraordinary General Meeting remains the close of business on May 23, 2025 (the “Record Date”). Shareholders as of the Record Date can vote, even if they have subsequently sold their shares. Shareholders who have previously submitted their proxies or otherwise voted and who do not want to change their vote need not to take any action. Shareholders who have not yet done so are encouraged to vote as soon as possible.

    There is no change to the location, the Record Date, or any of the other proposals to be acted upon at the Extraordinary General Meeting, except as otherwise provided herein.

    Shareholders who wish to withdraw their previously submitted redemption request may do so prior to the Extraordinary General Meeting by requesting that the Company’s transfer agent return such shares by 5:00 p.m. Eastern Time on June 26, 2025.

    If you have questions regarding the certification of your position or delivery of your shares, please contact:

    Continental Stock Transfer & Trust Company
    1 State Street 30th Floor
    New York, NY 10004-1561
    E-mail: spacredemptions@continentalstock.com

    The Company’s shareholders who have questions regarding the Revised Terms, the Extraordinary General Meeting or would like to request documents may contact the Company’s proxy solicitor, Advantage Proxy, Inc., at (877) 870-8565, or banks and brokers can call (206) 870-8565, or by email at ksmith@advantageproxy.com.

    About Eureka Acquisition Corp

    Eureka Acquisition Corp is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, incorporated for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

    Forward-Looking Statements

    This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Certain of these forward-looking statements can be identified by the use of words such as “believes,” “expects,” “intends,” “plans,” “estimates,” “assumes,” “may,” “should,” “will,” “seeks,” or other similar expressions. Such statements may include, but are not limited to, statements regarding the date of the Extraordinary General Meeting and the redemption request deadline. These statements are based on current expectations on the date of this press release and involve a number of risks and uncertainties that may cause actual results to differ significantly. The Company does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise. Readers are cautioned not to put undue reliance on forward-looking statements.

    Additional Information and Where to Find It

    On June 3, 2025, the Company filed a definitive proxy statement with the Securities and Exchange Commission (the “SEC”) in connection with its solicitation of proxies for the Extraordinary General Meeting. The Company will amend and supplement the definitive proxy statement to provide information about the Revised Terms and the Extraordinary General Meeting. INVESTORS AND SECURITY HOLDERS OF THE COMPANY ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND OTHER DOCUMENTS THE COMPANY FILES WITH THE SEC CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be able to obtain free copies of the definitive proxy statement (including any amendments or supplements thereto) and other documents filed with the SEC through the web site maintained by the SEC at www.sec.gov or by contacting the Company’s proxy solicitor.

    Participants in the Solicitation

    The Company and its respective directors and officers may be deemed to be participants in the solicitation of proxies from shareholders in connection with the Extraordinary General Meeting. Additional information regarding the identity of these potential participants and their direct or indirect interests, by security holdings or otherwise, is set forth in the definitive proxy statement. You may obtain free copies of these documents using the sources indicated above.

    Contact Information:
    Fen Zhang
    Chairman and Chief Executive Officer
    Email: eric.zhang@hercules.global
    Tel: +86 135 0189 0555

    The MIL Network –