Category: housing

MIL-OSI: The Payden Securitized Income Fund Offers Timely Strategy for Today’s Income Investors

Source: GlobeNewswire (MIL-OSI)

LOS ANGELES, July 31, 2025 (GLOBE NEWSWIRE) — With investors increasingly seeking income and diversification amid shifting monetary policy and market volatility, the Payden Securitized Income Fund (PYSFX) offers a compelling approach. The Fund provides access to a wide range of securitized assets—including agency and non-agency residential mortgage-backed securities (RMBS), asset-backed securities (ABS), commercial mortgage-backed securities (CMBS), and collateralized loan obligations (CLOs).

Designed to offer attractive yield potential while seeking limited interest rate sensitivity, the Payden Securitized Income Fund navigates changing market conditions through active management. The Fund seeks to capitalize on market inefficiencies and spread opportunities while maintaining a high degree of liquidity and risk awareness.

“The Payden Securitized Income Fund is designed with an aim to help investors earn more income, enhance diversification beyond traditional bonds, and maintain flexibility in a changing interest rate environment,” said Gary Greenberg, CFA, Director and Co-Manager.

Recent market dynamics have favored securitized credit, with CMBS and residential credit offering strong relative value. A resilient U.S. economy and a Federal Reserve nearing the end of its tightening cycle create favorable conditions for active managers seeking differentiated sources of income.

The Fund’s diversified structure and risk-conscious portfolio management strategy make it a timely solution for investors looking to complement traditional fixed income holdings.

PAYDEN & RYGEL

With $160 billion under management, Payden & Rygel is one of the largest privately-owned global investment advisers focused on the active management of fixed income and equity portfolios. Payden & Rygel provides a full range of investment strategies and solutions to investors around the globe, including Central Banks, Pension Funds, London, and Milan. Visit www.payden.com for more information about Payden’s investment offerings, including US mutual funds and Irish-domiciled funds (subject to investor eligibility).

Past performance does not guarantee future results. Investment returns and principal value will fluctuate, so investors’ shares, when sold, may be worth more or less than their original cost. For the most recent month-end performance, which may be higher or lower than that quoted, visit our website at payden.com or call 800 572-9336.

For more information and to obtain a prospectus or summary prospectus, visit payden.com or call 800 572-9336. Before investing, investors should carefully read and consider investment objectives, risks, charges, expenses and other important information about the Fund, which is contained in these documents. Interest Rate Risk: As with most funds that invest in debt securities, the income on and value of your shares in the Fund will fluctuate along with interest rates. When interest rates rise, the market prices of the debt securities the Fund owns usually decline. When interest rates fall, the prices of these securities usually increase. Extension Risk: Rising interest rates can cause the average maturity of the Fund’s holdings of mortgage-backed securities to lengthen unexpectedly due to a drop in prepayments. This would increase the sensitivity of the Fund to rising rates, and could cause certain of the Fund’s investments to decline in value more than they would have declined due to the rise in interest rates alone. The Payden Funds are distributed through Payden & Rygel Distributors, member FINRA.

This material reflects the firm’s current opinion and is subject to change without notice. Sources for the material contained herein are deemed reliable but cannot be guaranteed. This material is for illustrative purposes only and does not constitute investment advice or an offer to sell or buy any security. Past performance is no guarantee of future results.

CONTACT

Kate Ennis
ennis@daipartnerspr.com
(301) 580-6726

This press release was published by a CLEAR® Verified individual.

The MIL Network –

August 5, 2025
MIL-OSI USA: Tuberville Introduces Bill to Ban Chinese and Iranian Nationals from Studying in the United States
US Senate News:
Source: United States Senator for Alabama Tommy Tuberville

WASHINGTON – Today, U.S. Senator Tommy Tuberville (R-AL) is taking aggressive action to prevent students from countries that hate the U.S. from getting their foot in the door at American colleges and universities with his introduction of the Student Visa Integrity Act. Students from adversarial countries—such as China and Iran—would be prohibited from studying in the United States altogether. Senator Tuberville announced his new legislation on Mornings with Maria.

“I was recently shocked to learn how many students from hostile countries like China and Iran are studying at our American universities—including in my home state of Alabama,” said Senator Tuberville. “We need to go on offense against countries who hate us and are desperate to try to take us down—as we saw with the violent, anti-American protests on our college campuses over the past few months. There is zero reason why we should be allowing students from countries that hate us to take the spot of a law-abiding American citizen at our elite colleges and universities. I’m proud to introduce the Student Visa Integrity Act to crack down on rampant abuse of student visas and to make our American Universities Prioritize Americans Again.”

Complete text for the Student Visa Integrity Act can be found here. Federation for American Immigration Reform (FAIR), Immigration Accountability Project, and Heritage Action endorsed Senator Tuberville’s legislation.

“The Student Visa Integrity Act makes it clear: a student visa is a privilege, not a right. Visas provide foreign nationals a special opportunity to study in the United States before returning home – not a free pass to exploit our laws or remain indefinitely in the country. FAIR is proud to support this bill and applauds Senator Tuberville for fighting to prevent student visa abuse, uphold our laws, and keep American communities safe,” said Joe Chatham, Director of Government Relations for FAIR.

“The student visa program has been plagued with fraud and abuse for decades, and reforms are long overdue. The Student Visa Integrity Act of 2025 would help restore integrity to the program, ending open-ended ‘duration of status’ for foreign students, increasing penalties for program abuse, and closing significant national security loopholes exploited by our foreign adversaries. The Immigration Accountability Project is thankful to Senator Tuberville for introducing this vital effort,” said Grant Newman, Director of Government Relations for Immigration Accountability Project.

“China and other adversarial countries pose a direct threat to the United States, our schools, educators, and our students. The Student Visa Integrity Act would protect American educational institutions from foreign influence. Heritage Action has worked tirelessly to promote legislation that protects our education system from destructive foreign adversaries. We are committed to this goal and applaud Senator Tuberville for introducing the Student Visa Integrity Act,” said Steve Chartan, Vice President of Government Relations for Heritage Action.

BACKGROUND:

Foreign students are currently tracked and monitored using the Student and Exchange Visitor Information System (SEVIS). This system was mandated by Congress after the 1993 World Trade Center Bombing where one of the people responsible was in the United States on an expired student visa. The system was finally implemented in 2003 and has received minimal updates since.

Recent data shows that approximately 1.5 million international students are studying in the United States using F-1 or M-1 visas, which is more than DOUBLE the amount in 2012. Data from the U.S. Department of Homeland Security also showed that during Fiscal Year 2023, an estimated 50,000 student or exchange visitor visa holders overstayed the completion of their program.

The Student Visa Integrity Act would:
- Prohibit citizens from adversarial countries from studying in the U.S.
- Require schools to disclose any dealings with the Chinese government
- Prohibit foreign students from transferring schools or changing their major/program of study
- Increase penalties for schools and officials found engaging in visa fraud by making convicted offenders eligible for prison time or to be disqualified from the Student and Exchange Visitor Program altogether
- Require that foreign students have a definitive end date to prevent visa overstays and also require in-person interviews for some foreign students
Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP and Aging Committees.
MIL OSI USA News –
August 5, 2025
MIL-OSI United Kingdom: Speed camera trial for Victoria Road

Source: City of Plymouth

A speed enforcement camera is to be trialled on Victoria Road in St Budeaux, following concerns raised by local residents and ward councillors.

The static camera, which will be installed near the tennis club and play area, will be used to enforce the existing 30mph speed limit in both directions over a six-month period.

It is one of two being loaned free of charge to Devon and Cornwall Police by a new supplier on a temporary basis to test their operation.

Victoria Road has been chosen as a suitable site to deploy one of the cameras as it has seen a number of collisions in recent years, some involving serious and fatal injuries and residents have been pressing the Council to introduce measures to tackle speeding and improve safety.

It is hoped the camera will encourage greater speed limit compliance, as well as help reduce traffic noise along this busy route.

Councillor John Stephens, Cabinet Member for Strategic Planning and Transport, said: “Victoria Road is part of our major road network and runs through a densely populated residential area. There have been a number of collisions there in recent years, some of which were speed-related and some that have resulted in fatalities.

“Local residents have been raising their concerns about speeding traffic for some time and we are pleased to have been given the opportunity to trial this camera enforcement free of charge. I hope it helps to remind drivers of the limit in place and deter the more deliberate ‘racing’ we often see along this road.”

The camera is expected to installed next week and will be fixed to a lamp column that will have yellow reflective banding. There will be warning signs on both approaches and it will operate in the same way as other standard speed cameras across the city (not as an average speed camera).

If the trial is successful the police hope to purchase the camera, which will then remain on Victoria Road.

The Council does not make any money from speed camera fines. Once police operating costs are met, any surplus from fines goes to Vision Zero and, by law, has to go into road safety measures.

Vision Zero brings together local councils, emergency services, health trusts, National Highways, the Office of the Police and Crime Commissioner and the Parliamentary Advisory Council for Transport Safety. Its vision is to cut the number of deaths and serious injuries to zero.

MIL OSI United Kingdom –

August 5, 2025
MIL-OSI United Kingdom: The need for specialist foster carers
Source: City of Derby

Understanding the need for specialist foster care

In England, as of 31 March 2024, there were over 83,000 children in care, a number that has steadily increased over the past decade (Department for Education, 2024). While many children thrive in general foster placements, a significant proportion require specialist care due to complex emotional, behavioural, or psychological needs. These young people may have experienced trauma, abuse, neglect, or multiple placement breakdowns.

Specialist foster care provides a structured, therapeutic environment for these children and young people, helping them begin to recover and build a positive future. It is a tailored approach that demands more intensive training and support for carers, but also offers greater impact.

Case study: Jordan’s Story

Jordan is 15 years old. He loves science fiction and is fascinated by technology and space exploration. But behind his bright curiosity is a young person who has faced trauma and disrupted attachments. Jordan has difficulty trusting adults and managing his emotions, which has led to several failed placements.

Yet, in the right environment, one that is safe, consistent, and understanding Jordan begins to open up. He becomes more confident at school, engages in hobbies, and starts building meaningful relationships.

Jordan’s story illustrates what many children in care need not just a home, but a specialist foster placement that supports healing and personal growth.

(The above is a representation of a young person in foster care)

What is specialist fostering?

Specialist fostering is designed for children and young people with more complex needs who may not be suited to standard foster care. These placements require carers with advanced training and the emotional resilience to manage challenging behaviours, trauma responses, or mental health issues.

Key features of specialist fostering include:
- Therapeutic care models and trauma-informed approaches
- Enhanced financial allowances reflecting the intensity of care required
- Access to professional supervision and ongoing training
- Close collaboration with social workers, therapists, and education professionals
Specialist carers often come from backgrounds in health, education, social care, or emergency services, but individuals from all walks of life who are emotionally mature, patient, and motivated can be successful.

The impact of specialist foster care

Specialist foster care can have a profound and measurable impact on the lives of children and young people with complex needs.

Young people in specialist foster care often experience:
- Fewer school exclusions, indicating improved behaviour and engagement in education
- Better emotional regulation, supported by consistent routines and therapeutic approaches
- Greater placement stability, with fewer breakdowns compared to standard foster placements
- Improved long-term mental health, including reduced anxiety and trauma-related symptoms over time
In addition to the positive outcomes for young people, specialist carers frequently report a stronger sense of purpose and job satisfaction. Many describe the role as demanding but deeply rewarding, especially as they witness meaningful changes in a child’s wellbeing, confidence, and ability to form healthy relationships.

Specialist fostering isn’t easy, but it is critically important. It offers a second chance for young people like Jordan to thrive, academically, emotionally, and socially. With the right support, foster carers can provide life-changing stability and make a lasting difference.

If you believe you have the capacity to offer consistent care and emotional support to a vulnerable young person, specialist fostering could be a meaningful path for you.

How to learn more or get involved

Foster for East Midlands Councils is actively recruiting specialist foster carers, and our recruitment team are here to talk through the process and support anyone interested in finding our more. Call 03033 132 950, email hello@fosterforeastmidlands.org.uk or visit Foster for East Midlands Councils specialist carers web page.

Throughout August, September, and October, the team are hosting a number of foster information events. These sessions are open to anyone interested in fostering and provide opportunities to speak with fostering professionals and ask questions. The sessions are available online using Zoom or come along and meet us in person.

To register or find out more, visit the Foster for East Midlands Councils web page.

Online Events (via Zoom):
- Thursday 7 August, 6:30pm–7:30pm
- Wednesday 20 August, 12:00pm–1:00pm
- Tuesday 9 September, 6:30pm–7:30pm
- Thursday 25 September, 12:00pm–1:00pm
- Wednesday 8 October, 6:30pm–7:30pm
- Tuesday 21 October, 12:00pm–1:00pm
In-Person Events:
- Wednesday 17 September, 6pm–8pm, The Pride Shop, Nottingham, LGBTQ+ event
- Sunday 28 September, 12pm–4pm, Chesterfield FC Community Trust – this is a drop in session, so just call in at any point during this time.
- Tuesday 30 September, 6pm–8pm, Curzon Street, Derby, LGBTQ+ event
- Wednesday 29 October, 6:30pm–7:30pm, Tesco Bulwell, Nottingham
Visit the website for future events, more dates added each month.
MIL OSI United Kingdom –
August 5, 2025
MIL-OSI USA: Attorney General Labrador Secures Prison Sentence for Child Predator

Source: US State of Idaho

Home Newsroom Attorney General Labrador Secures Prison Sentence for Child Predator

BOISE — Attorney General Raúl Labrador’s Internet Crimes Against Children Unit arrested and secured the conviction of Enrique Galeana, 30, for possessing and distributing child sexual abuse material. Gem County District Judge Brent Whiting sentenced Galeana to 20 years in prison, with eligibility for parole after serving 10 years on July 14, 2025. Upon release, Galeana must register as a sex offender pursuant to Idaho law. “Every predator we remove from our streets makes Idaho families and communities safer,” said Attorney General Labrador. “Our ICAC investigators work relentlessly to protect children in Idaho from those who would exploit and harm them, and we will continue pursuing these criminals with the full force of the law.” In September 2024, Labrador’s ICAC Unit received a CyberTip indicating Galeana was uploading and distributing child sexual abuse material through an account linked to his phone number. After obtaining search warrants and conducting months of surveillance, ICAC investigators searched Galeana’s home, vehicle, and devices. Officers discovered numerous files depicting children ages 4 to 12. During questioning, Galeana admitted attraction to children ages 3-10 and to accessing the material for sexual arousal. During the investigation, authorities learned Galeana was an inadmissible alien and reported him to the appropriate federal authorities. Lead Deputy Attorney General Madison Allen Gourley prosecuted the case. ICAC Investigator Lauren Lane conducted the investigation.

MIL OSI USA News –

August 5, 2025
MIL-OSI USA: Governor Hochul Calls on DHS to Release UASI Funding

Source: US State of New York

overnor Kathy Hochul issued a letter to U.S. Department of Homeland Security Secretary Kristi Noem demanding the release of funding for the Urban Area Security Initiative (UASI) through the Homeland Security Grant Program (HSGP) following Monday evening’s mass shooting in Midtown Manhattan.

UASI funding is critical to building intelligence analysis capacity within the NYPD, enabling surge capacity when new threats are identified, and allowing the NYPD to provide federal law enforcement partners with intelligence collection and analysis capacity during large National Special Security events. UASI also supports a wide array of security initiatives conducted by law enforcement and public safety agencies throughout Westchester, Nassau and Suffolk Counties

Eliminating this funding — which totaled more than $156.1 million for New York in 2024 — would make New Yorkers less safe at a time when New York City remains a high-level target for acts of targeted violence. New York City, the Port Authority of New York and New Jersey, City of Yonkers, and Nassau, Suffolk and Westchester Counties all received awards through this funding.

The full text of the letter is below:

Dear Secretary Noem:

As Governor, my top priority is keeping New Yorkers safe. For decades, New York has partnered with the federal government, your agency specifically, to resource homeland security and counter terrorism efforts in New York City and across New York State.

On Monday, it was once again apparent that New York City remains a high-level target for acts of targeted violence. Four New Yorkers lost their lives, including an NYPD officer, in Midtown Manhattan. The assailant responsible traveled from Nevada all the way to our nation’s largest metropolis to commit this heinous act.

Your Department has long recognized that densely populated urban areas constitute a specific and unique target for acts of terrorism and targeted violence, and that there are unique needs and challenges to securing them safely. However, under your watch the Department of Homeland Security has failed to release the funding for the Urban Area Security Initiative (UASI).

We know from public reporting that Acting FEMA Administrator David Richardson sent a memo to the White House that you approved recommending the elimination of UASI. In that memo, the Acting Administrator admitted that eliminating this funding would result in “a less secure nation, especially at the border and in some of the nation’s most targeted cities, including Miami, Washington DC, and Dallas…”. New York City is this nation’s most targeted city when it comes to terrorism threats.

Eliminating this funding — which totaled more than $553 million in 2024, $156.1 million of which went to New York — would make New Yorkers less safe, hamstring the NYPD’s efforts to confront terrorist threats, and reduce intelligence information sharing across local, state and federal law enforcement agencies. This funding has been critical to building intelligence analysis capacity within the NYPD, enabling surge capacity when new threats are identified, and allowing the NYPD to provide federal law enforcement partners with intelligence collection and analysis capacity during large National Special Security events — all goals that until recently we were confident our federal partners shared with us.

On Monday, the same day as the latest targeted attack, your agency released several homeland security preparedness grants that we had expected to receive in May. However, you failed to also release UASI — the grant specifically designed to protect the nation’s highest urban terrorist targets.

Further delays in the release of UASI will degrade our nation’s ability to protect our urban centers including our ability to keep New Yorkers safe. I urge you to fulfill your duty to protect all Americans and to release UASI funding immediately.

Sincerely,
Governor Kathy Hochul

MIL OSI USA News –

August 5, 2025

MIL-OSI: Euronext publishes Q2 2025 results

Source: GlobeNewswire (MIL-OSI)

Euronext publishes Q2 2025 results

Euronext’s diversified business drives all-time record results, supported by organic growth, favourable market conditions and disciplined capital allocation.

Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris – 31 July 2025 – Euronext, the leading European capital market infrastructure, today publishes its results for the second quarter of 2025.

Q2 2025 revenue and income was up +12.8% to €465.8 million:

Non-volume-related revenue and income represented 58% of total revenue and income and covered 161% of underlying operating expenses, excluding D&A¹:

Securities Services revenues grew to €86.2 million (+6.5%), driven by increasing assets under custody, higher settlement activity and double-digit growth in value-added services;
Capital Markets and Data Solutions revenue grew to €165.4 million (+12.0%), driven by the continued commercial expansion of Advanced Data Solutions and the strong performance of Euronext Corporate and Investor Solutions and Technology Services, supported by the acquisition of Admincontrol. Like-for-like at constant currencies, revenue grew by +6.5%;
Net treasury income grew to €20.0 million (+45.1%), demonstrating the benefits of the Euronext Clearing expansion, high volatility and the internalisation of net treasury income from LCH SA following the derivatives clearing migration in Q3 2024.

Volume-related revenue was driven by high market volatility in the second quarter:

FICC²Markets revenue grew to €87.7 million (+20.1%), driven by another record performance in fixed income trading and clearing and in FX trading;
Equity Markets revenue grew to €106.2 million (+9.5%), reflecting a strong quarter in cash equity trading and clearing further boosted by high volatility in the first part of the quarter.

Underlying operating expenses excluding D&A were at €168.4 million (+7.9%), in line with Euronext’s 2025 underlying costs guidance. This reflects a step-up in growth investments and the impact of acquisitions, partially offset by a strong cost discipline. Euronext’s underlying operating expense guidance excluding D&A of €670 million excludes Admincontrol, acquired on 13 May 2025.
Adjusted EBITDA was €297.3 million (+15.8%) and adjusted EBITDA margin was 63.8% (+1.6pt).
Adjusted net income was €204.4 million (+23.8%) and adjusted EPS was €2.02 (+27.0%), supported by received dividends .
Reported net income was €183.8 million (+29.7%) and reported EPS was €1.81 (+32.1%).
Net debt to adjusted EBITDA³was at 1.8x at the end of June 2025, in line with Euronext’s target range. This ratio reflects the impact of the acquisition of Admincontrol on 13 May 2025 and the dividend payment in May 2025.

Key figures for the second quarter of 2025:

in €m, unless stated otherwise	Q2 2025	Q2 2024	% var	% var l-f-l
Revenue and income	465.8	412.9	+12.8%	+10.5%
Underlying operational expenses exc. D&A	(168.4)	(156.1)	+7.9%	+3.9%
Adjusted EBITDA	297.3	256.8	+15.8%	+14.4%
Underlying EBITDA margin	63.8%	62.2%	+1.6pts	+2.2pts
Net income⁴	183.8	141.7	+29.7%
Adjusted net income⁴	204.4	165.2	+23.8%
Adjusted EPS (basic, in €)	2.02	1.59	+27.0%
Reported EPS (basic, in €)	1.81	1.37	+32.1%

Progress with the delivery of ‘Innovate for Growth 2027’:
- Euronext has strengthened its development in the Nordics and in the UK with the acquisition of Admincontrol on 13 May 2025. This transaction improves the share of subscription-based revenue and is in line with its ambition to scale up the SaaS offering.
- Euronext is expanding its footprint in the Nordics and in the power business with the acquisition of Nasdaq Nordic’s power futures business. The final regulatory approval for the acquisition has been granted. Euronext and Nasdaq are now focusing on the upcoming migration of open interest from Nasdaq Clearing to Euronext Clearing in Q1 2026.
- Euronext partnerships with Euroclear⁵ and Clearstream⁶ on tri-party collateral management support the broader expansion of its repo clearing services across Europe. In July 2025, Euronext launched the first phase of a multi-year strategy⁷ to deliver a fully integrated, pan-European clearing model.
- On 31 July 2025, Euronext announced the submission of a voluntary share exchange offer to acquire all shares of HELLENIC EXCHANGES-ATHEX STOCK EXCHANGE S.A. (“ATHEX”), in exchange for newly issued Euronext shares, at a fixed conversion rate of 20.000 ATHEX ordinary shares for each new Euronext share⁸^,⁹. Based on Euronext’s closing price of €142.7 as of 30 July 2025, the proposed Offer values ATHEX at €7.14 per share and the entire issued and to be issued ordinary share capital of ATHEX at approximately €412.8 million on a fully diluted basis. The Board of Directors of ATHEX is unanimously supportive of the Offer to ATHEX shareholders and entered into a cooperation agreement with Euronext.

Stéphane Boujnah, Chief Executive Officer and Chairman of the Managing Board of Euronext, said:
“In the second quarter of 2025, Euronext achieved all-time record revenue and income of €465.8 million, driven by organic growth and acquisitions. This is the fifth consecutive quarter of double-digit topline growth. The strong performance reflects the strength of Euronext’s diversified business model, capable of capturing favourable market conditions and of generating non-volume-related revenue growth.

We have continued to invest in growth, while we maintained a strong cost discipline. Euronext reached an adjusted EBITDA close to €300 million in Q2 2025, marking a significant +15.8% increase compared to Q2 2024. In Q2 2025, we reached record adjusted EPS of €2.02 per share. Our reported EPS grew by +32.1% compared to Q2 2024, to €1.81 per share.

We continue to foster the integration and competitiveness of European capital markets via strategic initiatives. With a strong footprint in Italian repo, a growing list of government bond coverage, and the majority of key clearing members already connected, Euronext is well positioned to become the clearing house of choice for European repo.

Europe shows an unprecedented commitment to establish a Savings and Investments Union, and Euronext is a key player in Europe to accelerate the delivery of this ambition. Since the beginning of the year, Euronext has continued to deploy capital to expand across Europe. We have expanded our presence in the Nordics with the acquisition of Admincontrol and will further strengthen our position with the migration of Nasdaq Nordic’s power futures to Euronext Clearing in Q1 2026.

The contemplated acquisition of ATHEX would expand our integrated model across Europe to deliver the Savings and Investments Union. We are strongly committed to boosting the development and attractivity of Greek markets internationally and generating efficiencies and competitiveness across the Group.”

Q2 2025 business highlights

In €m	Q2 2025	Q2 2024	% var	% var l-f-l
Revenue and income	465.8	412.9	+12.8%	+10.5%
Securities Services	86.2	80.9	+6.5%	+3.9%
Capital Markets and Data Solutions	165.4	147.7	+12.0%	+6.5%
FICC Markets	87.7	73.0	+20.1%	+20.9%
Equity Markets	106.2	97.0	+9.5%	+9.5%
Net treasury income	20.0	13.8	+45.1%	+45.1%
Other income	0.3	0.4	-30.4%	-31.1%

Non-volume-related revenue
- Securities Services

In €m	Q2 2025	Q2 2024	% var	% var l-f-l
Revenue	86.2	80.9	+6.5%	+3.9%
Custody & Settlement	77.5	70.0	+10.8%	+7.8%
Other Post Trade	8.6	10.9	-21.1%	-21.1%

Revenue from Custody and Settlement in Q2 2025 was at €77.5 million, +10.8% compared to Q2 2024. This strong performance was driven by growing Assets under Custody, dynamic settlement instructions and continued double-digit growth in services, supported by the acquisition of Acupay. At the end of the quarter, Assets under Custody amounted to €7.34 trillion, up +4.5% compared to end of Q2 2024. Over 36.9 million instructions were settled via Euronext Securities during the second quarter of 2025, up +15.0% compared to the second quarter of 2024.

Other Post Trade revenue, which includes membership fees and other non-volume-related clearing fees, was €8.6 million in Q2 2025. The -21.1% decrease compared to Q2 2024 stems from the internalisation of the net treasury income related to Euronext derivatives flows in September 2024, which are now integrated in the net treasury income line.

Capital Markets and Data Solutions

In €m	Q2 2025	Q2 2024	% var	% var l-f-l
Revenue	165.4	147.7	+12.0%	+6.5%
Primary Markets	46.5	45.5	+2.3%	+2.5%
Advanced Data Solutions	65.2	60.6	+7.5%	+4.6%
Corporate and Investor Solutions and Technology Services	53.7	41.5	+29.2%	+13.5%

Primary Markets revenue was €46.5 million in Q2 2025, an increase of +2.3% compared to Q2 2024. The second quarter recorded slower equity listing activity explained by a volatile environment. Euronext sustained its leading position for equity listing with 6 new listings.

Advanced Data Solutions revenue was €65.2 million in Q2 2025, up +7.5% compared to Q2 2024. This dynamic performance reflects the contribution of GRSS, strong appetite from retail and growing monetisation of diversified datasets.

Corporate and Investor Solutions and Technology Services revenue grew by +29.2% in Q2 2025 to €53.7 million. This strong performance reflects the contribution of Admincontrol for half a quarter and double-digit growth of investor solutions and colocation services.

Net treasury income

Net treasury income was at €20.0 million, +45.1% compared to Q2 2024. This reflect the benefit from the Euronext Clearing expansion and the internalisation of treasury income from LCH SA following the completion of the derivatives clearing migration, as well as higher cash collateral posted to the CCP due to the elevated market volatility.

Volume-related revenue
- FICC Markets

In €m	Q2 2025	Q2 2024	% var	% var l-f-l
Revenue	87.7	73.0	+20.1%	+20.9%
Fixed income trading & clearing	51.7	39.2	+31.9%	+31.9%
Commodities trading & clearing	26.7	26.0	+2.7%	+3.1%
FX trading	9.3	7.8	+18.9%	+25.2%

Fixed income trading and clearing revenue reached €51.7 million in Q2 2025, up +31.9% compared to Q2 2024, driven by record fixed income trading activity supported by favourable market conditions.

Commodities¹⁰ trading and clearing revenue reached €26.7 million in Q2 2025, up +2.7% compared to Q2 2024, reflecting record intraday power trading volumes and softer agricultural commodity trading and clearing.

FX trading revenue was up +18.9%, at €9.3 million in Q2 2025, reflecting record trading volumes in April 2025, which outbalanced the negative currency impact of the USD.

Equity Markets

In €m	Q2 2025	Q2 2024	% var	% var l-f-l
Revenue	106.2	97.0	+9.5%	+9.5%
Cash equity trading & clearing	93.4	80.4	+16.2%	+16.2%
Financial derivatives trading & clearing	12.8	16.6	-22.9%	-22.9%

Cash equity trading and clearing revenue¹¹ was €93.4 million in Q2 2025, up +16.2% compared to Q2 2024 driven by exceptional market volatility. Euronext recorded average daily cash trading volumes of €13.4 billion, up +21.2% compared to Q2 2024. Euronext reached solid average revenue capture on cash trading at 0.52 bps for the second quarter of 2025, despite higher volumes and larger average order size compared to Q2 2024. Euronext market share on cash equity trading averaged 63.5% in Q2 2025.

Financial derivatives trading and clearing revenue was €12.8 million in Q2 2025, -22.9% compared to Q2 2024. This mostly reflects lower volatility and the decrease of the average clearing fees. Following the clearing migration, certain clearing fees are now reported in the line Other Post Trade revenues, and as such not fully comparable with Q2 2024.

Q2 2025 financial performance

In €m, unless stated otherwise	Q2 2025	Q2 2024	% var	% var l-f-l
Revenues and income	465.8	412.9	+12.8%	+10.5%
Underlying operating expenses excl. D&A	(168.4)	(156.1)	+7.9%	+3.9%
Adjusted EBITDA	297.3	256.8	+15.8%	+14.4%
Adjusted EBITDA margin	63.8%	62.2%	+1.6pts	+2.2pts
Operating expenses excl. D&A	(171.8)	(162.9)	+5.5%	+1.6%
EBITDA	293.9	249.9	+17.6%	+16.2%
Depreciation & amortisation	(48.2)	(47.9)	+0.5%	+1.0%
Total expenses	(220.0)	(210.9)	+4.3%	+1.2%
Adjusted operating profit	274.7	234.8	+17.0%	+15.7%
Operating profit	245.8	202.0	+21.7%
Net financing income / (expense)	(5.7)	3.5	N/A
Results from equity investments	24.5	1.2	N/A
Profit before income tax	264.5	206.7	+28.0%
Income tax expense	(68.1)	(55.7)	+22.3%
Minority interests	(12.6)	(9.2)	+36.3%
Net income	183.8	141.7	+29.7%
Adjusted net income	204.4	165.2	+23.8%
Adjusted EPS (basic, in €)	2.02	1.59	+27.0%
Reported EPS (basic, in €)	1.81	1.37	+32.1%
Adjusted EPS (diluted, in€)	2.01	1.59	+26.4%
Reported EPS (diluted, in€)	1.81	1.36	+33.1%

Q2 2025 adjusted EBITDA

Underlying operating expenses excluding D&A¹ were at €168.4 million (+7.9%). The increase compared to Q2 2024 reflects investments in growth and the impact of acquisitions performed in 2025, partially offset by cost discipline.
As a result of a double digit growth in revenue, adjusted EBITDA for the quarter reached €297.3 million, up +15.8% compared to Q2 2024. This represents an adjusted EBITDA margin of 63.8%, up +1.6pts vs. Q2 2024. On a like-for-like basis at constant currencies, adjusted EBITDA grew by +14.4% compared to Q2 2024.
Q2 2025 non-underlying operating expenses excluding D&A amounted to €3.4 million, mostly related to the integration of recent acquisitions. As a consequence, reported EBITDA was at €293.9 million, up +17.6% compared to Q2 2024.

Q2 2025 net income, share of the parent company shareholders

Depreciation and amortisation accounted for €48.2 million in Q2 2025, +0.5% more than Q2 2024. PPA related to acquired businesses accounted for €19.1 million. Adjusted operating profit was €274.7 million, up +17.0% compared to Q2 2024. Euronext reported a net financing expense of €5.7 million in Q2 2025, compared to €3.5 million net financing income in Q2 2024. The variation reflects decreasing interest rates, lower cash position after the redemption of the €500 million bond and the recognition of non-cash interest expense related to the convertible bonds.

Income tax for Q2 2025 was €68.1 million. This translated into an effective tax rate of 25.7% for the quarter, compared to 27.0% in Q2 2024. The tax rate was positively impacted by the tax-exempt €24.5 million dividend received by Euroclear. Share of non-controlling interests amounted to €12.6 million, correlated with the strong performance of MTS and Nord Pool.

As a result, the reported net income, share of the parent company shareholders, increased by +29.7%for Q2 2025 compared to Q2 2024, to €183.8 million. This represents a reported EPS of €1.81 basic and €1.81 diluted. Adjusted net income, share of the parent company shareholders, was up +23.8% to €204.4 million. Adjusted EPS (basic) was €2.02 and adjusted EPS (diluted) was €2.01. The increase in EPS reflects higher profit and a lower number of outstanding shares over the second quarter of 2025 compared to Q2 2024. The weighted number of shares used over the second quarter of 2025 was 101,374,346 for the basic calculation and 102,130,793 for the diluted calculation, compared to 103,653,544 and 103,986,292 respectively over the second quarter of 2024. The difference in share count is due to the share repurchase programme executed by Euronext and the consideration of the convertible bonds under IAS 33.

In Q2 2025, Euronext reported a net cash flow from operating activities of €135.0 million, compared to €111.5 million in Q2 2024, reflecting higher profit before tax and higher income tax paid in Q2 2025. Excluding the impact of working capital from Euronext Clearing and Nord Pool CCP activities, net cash flow from operating activities accounted for 52.3% of EBITDA in Q2 2025.

Q2 2025 corporate highlights since publication of the first quarter 2025 results on 14 May 2025

Euronext received regulatory approval for the acquisition of Nasdaq Nordic power futures

On 4 June 2025, Euronext received regulatory approval for the extension of Euronext Clearing to power derivatives under Article 15 of EMIR. With this final approval, all regulatory approvals for the acquisition of Nasdaq Nordic’s power futures business have been granted. Euronext and Nasdaq continue to focus on the upcoming migration of open interest from Nasdaq Clearing to Euronext Clearing in Q1 2026¹².

Partnership with Clearstream on collateral management

On 16 June 2025, Euronext and Clearstream announced the start of a new partnership¹³ to advance the continued development of Euronext Clearing’s collateral management services across repo and other asset classes.
As part of this initiative, Clearstream will serve as a triparty agent (TPA) for Euronext Clearing, facilitating advanced collateral management capabilities. Clients will benefit from automated, flexible and operationally streamlined solutions that enhance margin and balance sheet optimisation. Clearstream will act as an independent third party, handling the collateral selection, valuation and substitution to ensure compliance with eligibility criteria while minimising operational complexities. In addition, Clearstream will manage settlement and custody services, provide robust regulatory reporting, and support liquidity and risk management objectives. The go-live of this enhanced service offering is scheduled for November 2025.

Euronext successfully launched its inaugural convertible bonds issuance

On 22 May 2025, Euronext announced the success of its offering of senior unsecured bonds due 2032 convertible into new shares and/or exchangeable for existing shares of the Company (“OCEANEs”) (the “Bonds”), by way of a placement to qualified investors only, for a nominal amount of €425 million (the “Offering”)¹⁴. The Bonds were issued with a denomination of €100,000 each (the “Principal Amount”), and will be convertible and/or exchangeable into new and/or existing shares of Euronext (the “Shares”) and will pay a fixed coupon at a rate of 1.50% per annum, payable semi-annually in arrear on 30 May and 30 November of each year (or on the following business day if this date is not a business day), and for the first time on 30 November 2025. The initial conversion price of the Bonds is set at €191.1654. Unless previously converted, exchanged, redeemed or purchased and cancelled, the Bonds will be redeemed at par on 30 May 2032 (or on the following business day if such date is not a business day) (the “Maturity Date”).

Euronext successfully migrated Italian markets to a harmonised clearing framework

On 30 June 2025, Euronext completed the migration of the Italian derivatives and cash equity markets to its Core Clearing System. Euronext is now clearing all its financial derivatives, commodities and cash equities markets through a single, streamlined, harmonised clearing gateway. This important milestones delivers to Euronext Clearing clients further material operational and risk management efficiencies, which optimise their total cost of trading on Euronext markets.

Corporate highlights since 1 July 2025

Euronext launched the first phase of its strategic multi-year Repo expansion initiative¹⁵

On 8 July 2025, Euronext announced the launch of its initiative to expand access, improve collateral usage and position Euronext as a leading Central Counterparty (CCP) for European repo markets. As a cornerstone of Euronext’s strategic plan announced in November 2024, the Repo initiative sets in motion Euronext’s vision to build a fully integrated, pan-European post-trade infrastructure. Euronext now offers repo clearing for Spanish, Portuguese and Irish government bonds, alongside its established Italian offering. For the first time, international firms can join the platform with seamless onboarding and scalable settlement operations.

Euronext to launch voluntary share exchange offer for all ATHEX shares

On 31 July 2025, Euronext announced the submission of a voluntary share exchange offer to acquire all shares of HELLENIC EXCHANGES-ATHEX STOCK EXCHANGE S.A. (“ATHEX”), in exchange for newly issued Euronext shares, at a fixed conversion rate of 20.000 ATHEX ordinary shares for each new Euronext share¹⁶^,¹⁷. Based on Euronext’s closing price of €142.7 as of 30 July 2025, the proposed Offer values ATHEX at €7.14 per share and the entire issued and to be issued ordinary share capital of ATHEX at approximately €412.8 million on a fully diluted basis. The Board of Directors of ATHEX is unanimously supportive of the Offer to ATHEX shareholders and entered into a cooperation agreement with Euronext.

The combination between Euronext and ATHEX is in line with Euronext’s ambition to integrate European capital markets. The combined Group will foster harmonisation of European capital markets on a unified technology. Greek markets would benefit from increased visibility towards global investors as part of the leading single liquidity pool in Europe.

Euronext expects the combination to deliver €12 million annual run-rate cash synergies by the end of 2028, with implementation costs related to these synergies expected at €25 million. The Offer is in line with Euronext’s investment criteria of ROCE > WACC in year 3 to 5 after the acquisition and is expected to be accretive for Euronext shareholders after delivery of synergies in year 1.

The Offer is expected to be open for acceptance, subject to regulatory approvals, from Q4 2025. The transaction is expected to be completed by the end of 2025.

Results Webcast

A webcast will be held on Friday, 1 August 2025, at 09:00 CEST (Paris time) / 08:O0 BST (London time):

For the live webcast go to: Webcast

The webcast will be available for replay after the call at the webcast link and on the Euronext Investor Relations webpage.

Contacts

ANALYSTS & INVESTORS – ir@euronext.com

Investor Relations Aurélie Cohen

Judith Stein +33 6 15 23 91 97

MEDIA – mediateam@euronext.com

Europe Aurélie Cohen +33 1 70 48 24 45

Andrea Monzani +39 02 72 42 62 13

Belgium Marianne Aalders +32 26 20 15 01

France, Corporate Flavio Bornancin-Tomasella +33 1 70 48 24 45

Ireland Catalina Augspach +39 02 72 42 62 13

Italy Ester Russom +39 02 72 42 67 56

The Netherlands Marianne Aalders +31 20 721 41 33

Norway Cathrine Lorvik Segerlund +47 41 69 59 10

Portugal Sandra Machado +351 91 777 68 97

About Euronext
Euronext is the leading European capital market infrastructure, covering the entire capital markets value chain, from listing, trading, clearing, settlement and custody, to solutions for issuers and investors. Euronext runs MTS, one of Europe’s leading electronic fixed income trading markets, and Nord Pool, the European power market. Euronext also provides clearing and settlement services through Euronext Clearing and its Euronext Securities CSDs in Denmark, Italy, Norway and Portugal.
As of June 2025, Euronext’s regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal host nearly 1,800 listed issuers with €6.3 trillion in market capitalisation, a strong blue-chip franchise and the largest global centre for debt and fund listings. With a diverse domestic and international client base, Euronext handles 25% of European lit equity trading. Its products include equities, FX, ETFs, bonds, derivatives, commodities and indices.
For the latest news, go to euronext.com or follow us on X and LinkedIn.

Disclaimer

This press release is for information purposes only: it is not a recommendation to engage in investment activities and is provided “as is”, without representation or warranty of any kind. The figures in this document have not been audited or reviewed by our external auditor. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication may be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext. This press release speaks only as of this date. Euronext refers to Euronext N.V. and its affiliates. Information regarding trademarks and intellectual property rights of Euronext is available at www.euronext.com/terms-use.

The Euronext Group processes your personal data in order to provide you with information about Euronext (the “Purpose”). With regard to the processing of this personal data, Euronext will comply with its obligations under Regulation (EU) 2016/679 of the European Parliament and Council of 27 April 2016 (General Data Protection Regulation, “GDPR”), and any applicable national laws, rules and regulations implementing the GDPR, as provided in its privacy statement available at: www.euronext.com/privacy-policy. In accordance with the applicable legislation you have rights with regard to the processing of your personal data: for more information on your rights, please refer to: www.euronext.com/data_subjects_rights_request_information. To make a request regarding the processing of your data or to unsubscribe from this press release service, please use our data subject request form at connect2.euronext.com/form/data-subjects-rights-request or email our Data Protection Officer at dpo@euronext.com.

Appendix

The figures in this Appendix have not been audited or reviewed by our external auditor.

Non-IFRS financial measures

For comparative purposes, the company provides unaudited non-IFRS measures including:

Operational expenses excluding depreciation and amortisation, underlying operational expenses excluding depreciation and amortisation;
EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin.

Non-IFRS measures are defined as follows:

Operational expenses excluding depreciation and amortisation as the total of salary and employee benefits, and other operational expenses;
Underlying operational expenses excluding depreciation and amortisation as the total of salary and employee benefits, and other operational expenses, excluding non-recurring costs;
Underlying revenue and income as the total of revenue and income, excluding non-recurring revenue and income;

Non-underlying items as items of revenue, income and expense that are material by their size and/or that are infrequent and unusual by their nature or incidence are not considered to be recurring in the normal course of business and are classified as non-underlying items on the face of the income statement within their relevant category in order to provide further understanding of the ongoing sustainable performance of the Group. These items can include:
- integration or double run costs of significant projects, restructuring costs and costs related to acquisitions that change the perimeter of the Group;
- one-off finance costs, gains or losses on sale of subsidiaries and impairments of investments:
- amortisation and impairment of intangible assets which are recognised as a result of acquisitions and mostly comprising customer relationships, brand names and software that were identified during purchase price allocation (PPA);
- tax related to non-underlying items.

Adjusted operating profit as the operating profit adjusted for any non-underlying revenue and income and non-underlying costs, including PPA of acquired businesses;
EBITDA as the operating profit before depreciation and amortisation;
Adjusted EBITDA as the adjusted operating profit before depreciation and amortisation adjusted for any non-underlying operational expenses excluding depreciation and amortisation;
EBITDA margin as EBITDA divided by total revenue and income;
Adjusted EBITDA margin as adjusted EBITDA, divided by total revenue and income;
Adjusted net income, as the net income, share of the parent company shareholders, adjusted for any non-underlying items and related tax impact.

Non-IFRS financial measures are not meant to be considered in isolation or as a substitute for comparable IFRS measures and should be read only in conjunction with the consolidated financial statements.

Consolidated income statement

	Q2 2025			Q2 2024
In € million, unless stated otherwise	Underlying	Non- underlying	Reported	Underlying	Non- underlying	Reported
Revenues	465.8	–	465.8	412.9	–	412.9
Securities Services	86.2	–	86.2	80.9	–	80.9
Custody and Settlement	77.5	–	77.5	70.0	–	70.0
Other Post Trade	8.6	–	8.6	10.9	–	10.9
Capital Markets and Data Solutions	165.4	–	165.4	147.7	–	147.7
Primary Markets	46.5	–	46.5	45.5	–	45.5
Advanced Data Solutions	65.2	–	65.2	60.6	–	60.6
Corporate and Investor Solutions and Technology Services	53.7	–	53.7	41.5	–	41.5
FICC markets	87.7	–	87.7	73.0	–	73.0
Fixed income trading and clearing	51.7	–	51.7	39.2	–	39.2
Commodities trading and clearing	26.7	–	26.7	26.0	–	26.0
FX trading	9.3	–	9.3	7.8	–	7.8
Equity markets	106.2	–	106.2	97.0	–	97.0
Cash equity trading and clearing	93.4	–	93.4	80.4	–	80.4
Financial derivatives trading and clearing	12.8	–	12.8	16.6	–	16.6
Net treasury income	20.0	–	20.0	13.8	–	13.8
Other income	0.3	–	0.3	0.4	–	0.4
Operating expenses excl. D&A	(168.4)	(3.4)	(171.8)	(156.1)	(6.8)	(162.9)
Salaries and employee benefits	(92.2)	(1.1)	(93.3)	(79.9)	(0.4)	(80.2)
Other operational expenses, of which	(76.3)	(2.2)	(78.5)	(76.2)	(6.5)	(82.7)
System & Communication	(26.5)	(0.2)	(26.7)	(24.7)	(1.1)	(25.9)
Professional services	(17.7)	(2.2)	(19.9)	(13.6)	(4.4)	(17.9)
Clearing expense	(0.2)	–	(0.2)	(9.9)	–	(9.9)
Accommodation	(4.5)	0.1	(4.4)	(4.1)	(0.3)	(4.4)
Other operational expenses	(27.3)	–	(27.4)	(23.9)	(0.7)	(24.6)
EBITDA	297.3	(3.4)	293.9	256.8	(6.8)	249.9
EBITDA margin	63.8%		63.1%	62.2%		60.5%
Depreciation & amortisation	(22.6)	(25.6)	(48.2)	(21.9)	(26.0)	(47.9)
Total expenses	(191.0)	(29.0)	(220.0)	(178.0)	(32.8)	(210.9)
Operating profit	274.7	(29.0)	245.8	234.8	(32.8)	202.0
Net financing income/(expense)	(5.7)	–	(5.7)	3.5	–	3.5
Results from equity investment	24.5	–	24.5	0.1	1.2	1.2
Profit before income tax	293.5	(29.0)	264.5	238.4	(31.7)	206.7
Income tax expense	(75.6)	7.5	(68.1)	(64.0)	8.3	(55.7)
Non-controlling interests	(13.4)	0.8	(12.6)	(9.2)	(0.1)	(9.2)
Net income share of the parent company shareholders	204.4	(20.6)	183.8	165.2	(23.4)	141.7
EPS (basic, in €)	2.02		1.81	1.59		1.37
EPS (diluted, in €)	2.01		1.81	1.59		1.36

Adjusted EPS definition

In € million, unless stated otherwise	Q2 2025	Q2 2024
Net income reported	183.8	141.7
EPS reported (in €)	1.81	1.37
Adjustments for non-underlying items included in:
Operating expenses exc. D&A	(3.4)	(6.8)
Depreciation and amortisation	(25.6)	(26.0)
Results from equity investments	–	1.2
Non-controlling interest	0.8	(0.1)
Tax related to adjustments	7.5	8.3
Adjusted net income	204.4	165.2
Adjusted EPS (in €)	2.02	1.59

Consolidated comprehensive income statement

In € million	Q2 2025	Q2 2024
Profit for the period	196.4	151.0

Other comprehensive income
Items that may be reclassified to profit or loss:
– Exchange differences on translation of foreign operations	(53.6)	15.2
– Income tax impact on exchange differences on translation of foreign operations	7.4	(1.9)
– Gains and losses on cash flow hedges	(2.2)	–
– Change in value of debt investments at fair value through other comprehensive income	–	0.3
– Income tax impact on change in value of debt investments at fair value through other comprehensive income	–	(0.1)

Items that will not be reclassified to profit or loss:
– Change in value of equity investments at fair value through other comprehensive income	46.1	6.5
– Income tax impact on change in value of equity investments at fair value through other comprehensive income	(0.4)	(1.0)
– Remeasurements of post-employment benefit obligations	1.9	1.9
– Income tax impact on remeasurements of post-employment benefit obligations	–	(0.2)
Other comprehensive income for the period, net of tax	(0.8)	20.8
Total comprehensive income for the period	195.6	171.8

Comprehensive income attributable to:
– Owners of the parent	184.0	162.5
– Non-controlling interests	11.6	9.3

Consolidated statement of financial position

In € million	30 June 2025	31 March 2025
Non-current assets
Property, plant and equipment	103.0	107.4
Right-of-use assets	85.1	88.2
Goodwill and other intangible assets¹⁸	6,586.7	6,096.5
Deferred income tax assets	24.0	29.1
Investments in associates and joint ventures	0.8	0.8
Financial assets at fair value through OCI	403.1	357.0
Other non-current assets	3.4	3.4
Total non-current assets	7,206.2	6,682.4

Current assets
Trade and other receivables	463.8	574.2
Income tax receivable	32.2	17.5
Derivative financial instruments	0.1	2.2
CCP clearing business assets	348,903.3	341,647.6
Other current financial assets	59.3	59.5
Cash & cash equivalents	919.3	1,642.3
Total current assets	350,378.1	343,943.3
Total assets	357,584.2	350,625.7

Equity
Shareholders’ equity	4,153.5	4,224.6
Non-controlling interests	144.3	161.7
Total equity	4,297.9	4,386.3

Non-current liabilities
Borrowings	2,311.7	2,537.5
Lease liabilities	69.8	71.7
Other non-current financial liabilities	3.5	3.5
Deferred income tax liabilities	488.4	495.1
Post-employment benefits	21.2	23.0
Contract liabilities	53.3	54.2
Other provisions	7.1	7.0
Total non-current liabilities	2,955.0	3,192.1
Current liabilities
Borrowings	602.7	524.0
Lease liabilities	22.2	21.9
Other current financial liabilities¹	103.5	–
CCP clearing business liabilities	348,949.3	341,695.3
Income tax payable	68.8	99.3
Trade and other payables	422.5	526.5
Contract liabilities	158.5	176.2
Other provisions	3.7	4.1
Total current liabilities	350,331.3	343,047.3
Total equity and liabilities	357,584.2	350,625.7

Consolidated statement of cash flows

In € million	Q2 2025	Q2 2024
Profit before tax	264.5	206.7
Adjustments for:
– Depreciation and amortisation	48.2	47.9
– Share-based payments	5.6	2.9
-Results from equity investments	(24.5)	–
-Gain on sale of associate	–	(1.2)
-Share of profit from associates and joint ventures	–	(0.1)
– Changes in working capital	(43.8)	(67.9)
Cash flow from operating activities	250.0	188.4
Income tax paid	(115.1)	(76.9)
Net cash flows from operating activities	135.0	111.5

Cash flow from investing activities
Business combinations, net of cash acquired	(400.4)	(38.5)
Proceeds from sale of associate	–	0.9
Purchase of current financial assets	(0.4)	(0.6)
Redemption of current financial assets	(0.2)	17.7
Purchase of property, plant and equipment	(3.2)	(5.0)
Purchase of intangible assets	(28.1)	(15.8)
Interest received	7.3	11.3
Asset acquisitions	(27.7)	–
Proceeds from sale of property, plant, equipment and intangible assets	–	(0.1)
Dividends received from equity investments	24.5	–
Dividends received from associates and joint ventures	–	0.1
Net cash flow from investing activities	(428.2)	(30.0)

Cash flow from financing activities
Proceeds from borrowings, net of transaction fees	846.2	–
Repayment of borrowings, net of transaction fees	(925.0)	–
Interest paid	(29.2)	(28.2)
Payment of lease liabilities	(3.4)	(4.2)
Transactions in own shares	0.0	(10.0)
Withholding tax paid at vesting of shares	(1.9)	(1.2)
Dividends paid to the company’s shareholders	(293.4)	(257.3)
Dividends paid to non-controlling interests	(18.2)	(18.9)
Net cash flow from financing activities	(424.9)	(319.6)

Total cash flow over the period	(718.1)	(238.1)
Cash and cash equivalents – Beginning of period	1,642.3	1,609.6
Non-cash exchange gains/(losses) on cash and cash equivalents	(4.9)	4.6
Cash and cash equivalents – End of period	919.3	1,376.0

Business indicators for the second quarter of 2025

Securities Services

Custody and Settlement	Q2 2025	Q2 2024	% var
Number of settlement instructions over the period	36,946,162	32,114,794	+15.0%
Assets under Custody (in €bn), end of period	7,344	7,030	+4.5%

Capital Markets

Primary Markets	Q2 2025	Q2 2024	% var
Number of issuers on Equities – Euronext	1,766	1,862	-5.0%
Number of issuers on Equities – SMEs	1,371	1,469	-7.0%
Number of listed Funds	2,179	2,347	-7.0%
Number of listed ETFs	4,322	3,885	+11.0%
Number of listed Bonds	57,367	58,147	-1.0%
Capital raised on primary and secondary market (in €m)
Number of new equity listings	13	17
Money raised – New equity listings (including over-allotment)	155	3,403	-95.0%
Money raised – Follow-ons on equities	4,457	2,362	+89.0%
Money raised – Bonds	316,817	304,686	+4.0%

FICC Markets

Fixed income trading and clearing	Q2 2025	Q2 2024	% var
Number of trading days	62	63	–
Transaction value (in €m, single counted)
MTS
ADV MTS Cash	59,182	36,287	+63.0%
TAADV MTS Repo	612,821	448,618	+37.0%
Other fixed income
ADV fixed income	1,588	1,689	-6.0%
Number of transactions and lots cleared (double counted)
Bonds – Wholesale (nominal value in €bn)	8,571	6,918	+23.9%
Bonds – Retail (number of contracts)	3,313,182	3,658,240	-9.4%

Commodities trading and clearing	Q2 2025	Q2 2024	% var
Number of trading days	91	91	–
Power volume (in TWh) – ADV Day-ahead Power Market	2.53	2.53	0.0%
Power volume (in TWh) – ADV Intraday Power Market	0.56	0.36	+58.0%
Derivatives volume (in lots)
Number of trading days	62	63	–
Commodity	6,746,377	7,898,126	-14.6%
Futures	6,473,697	7,197,681	-10.1%
Options	272,680	700,445	-61.1%

FX trading	Q2 2025	Q2 2024	% var
Number of trading days	65	65	–
FX volume (in $m, single counted)
Total Euronext FX	2,025,494	1,783,772	+13.6%
ADV Euronext FX	31,161	27,443	+13.6%

Equity Markets

Cash equity trading and clearing	Q2 2025	Q2 2024	% var
Number of trading days	62	63	–
Number of transactions (buy and sell) (reported trades included)
Total Cash Market	186,375,884	152,354,170	+21.5%
ADV Cash Market	3,006,063	2,434,193	+23.5%
Transaction value (€ million, single counted)
Total Cash Market	831,391	696,882	+19.3%
ADV Cash Market	13,410	11,062	+21.2%
Shares (number of transactions and lots cleared – single counted)	75,751,603	55,211,959	+37.2%

Financial derivatives trading and clearing	Q2 2025	Q2 2024	% var
Number of trading days	62	63	–
Derivatives Volume (in lots) – Equity	30,293,449	35,317,815	-14.2%
Index	10,684,578	13,753,365	-22.3%
Futures	6,465,795	7,760,863	-16.7%
Options	4,218,783	5,992,502	-29.6%
Individual Equity	19,608,871	21,564,450	-9.1%
Futures	526,418	2,782,606	-81.1%
Options	19,082,453	18,781,844	+1.6%

¹ Definition in Appendix – adjusted for non-underlying operating expenses excluding D&A and non-underlying revenue and income.
² Fixed income, commodities and currencies
³ Last twelve months adjusted EBITDA. Net debt to last twelve months reported EBITDA ratio was at 1.9x.
⁴ Share of the parent company shareholders
⁵https://www.euronext.com/en/about/media/euronext-press-releases/euronext-announces-collaboration-euroclear-enhance-euronext
⁶https://www.euronext.com/en/about/media/euronext-press-releases/euronext-and-clearstream-launch-partnership-further-strengthen
⁷https://www.euronext.com/en/about/media/euronext-press-releases/euronext-launches-first-phase-its-strategic-multi-year-repo
⁸https://www.euronext.com/en/about/media/euronext-press-releases/euronext-launch-voluntary-share-exchange-offer-for-all-athex-0
⁹ Offer is subject to customary and regulatory approvals.
¹⁰ Including revenue from power trading and clearing
¹¹ Including equities, ETFs, warrants and certificates
¹²www.euronext.com/en/news/euronext-nasdaq-clearing-agreement-power-derivatives-transfer-set-for-march-2026.
¹³ www.euronext.com/en/about/media/euronext-press-releases/euronext-and-clearstream-launch-partnership-further-strengthen
¹⁴www.euronext.com/en/investor-relations/financial-information/news/euronext-announces-success-its-offering-bonds-due
¹⁵ www.euronext.com/en/about/media/euronext-press-releases/euronext-launches-first-phase-its-strategic-multi-year-repo
¹⁶ https://www.euronext.com/en/about/media/euronext-press-releases/euronext-launch-voluntary-share-exchange-offer-for-all-athex-0
¹⁷ Offer is subject to customary and regulatory approvals.

¹⁸ The Nasdaq Nordic transaction qualifies as an ‘asset acquisition’. The full purchase price, consisting of a fixed amount of US$35.0 million and a contingent consideration amount estimated at US$115.0 million, is allocated to customer relationships as an intangible asset. The Group has chosen to apply the liability approach that follows IFRIC 1 principles for recognition of the contingent consideration liability, whereby subsequent changes in the liability are adjusted against the carrying amount of the related asset.

Attachment

Q2 2025 Results – Press Release

The MIL Network –

August 5, 2025

MIL-OSI USA: King Cosponsors Legislation to Streamline Green Card Status for At-Risk Immigrant Youth

US Senate News:

Source: United States Senator for Maine Angus King

WASHINGTON, D.C. — U.S. Senator Angus King (I-ME) is cosponsoring legislation to help provide an expedited pathway to green card status for young immigrants under 21 whose case of abandonment, abuse or neglect by their legal guardian has been evaluated and affirmed by a U.S. state court. The Protect Vulnerable Immigrant Youth Act, S. 1965, aims to exempt Special Immigrant Juvenile Status (SIJS) children from annual employment-based visa caps. This would end years-long backlogs and allow these children to move forward with their lives as lawful, productive, permanent residents of the United States.

“For generations, our country has been a beacon of hope for immigrants seeking a better life,” said Senator King. “However, navigating the immigration system and pathway to legal citizenship is often a lengthy, cumbersome process — especially for younger immigrants trying to escape abuse or neglect. The Protect Vulnerable Immigrant Youth Act would gently ease some of the barriers to obtaining a green card for vulnerable minors and help keep these children safe and out of harm’s way. We owe it to the young people seeking refuge in our country to provide them with the tools and support to achieve their American dream.”

The Special Immigrant Juvenile Status (SIJS) was established in 1990 to create a pathway to lawful permanent residence (a “green card”) for immigrant children who have been abandoned, abused or neglected by their parents or guardians. Children who receive SIJS have faced horrific conditions in their home countries, leaving them unable to return and often with few resources here in the U.S. Despite being a humanitarian visa, the pathway to a green card for SIJS children runs through the employment-based immigration visa system — subjecting SIJS recipients to annual worldwide and country-specific visa limits. This has resulted in thousands of children stuck in a backlog, unable to move forward with their lives.

The Protect Vulnerable Immigrant Youth Act is cosponsored by Senators Cortez Masto (D-NV), Alex Padilla (D-CA), Brian Schatz (D-HI), Dick Durbin (D-IL), Tammy Duckworth (D-IL), Peter Welch (D-VT), Jacky Rosen (D-NV), Patty Murray (D-WA), Elizabeth Warren (D-MA), Jeff Merkley (D-OR) and Ben Ray Luján (D-NM).

Senator King is a strong opponent of the Trump Administration’s continued efforts to repeal protections for DACA recipients, also referred to as “Dreamers.” He has repeatedly sought a legislative solution to provide stability for DACA recipients. Most recently, he sent a letter to Acting Director of U.S. Citizenship and Immigration Services (USCIS) Angelica Alfonso-Royals, highlighting the popular support for providing Dreamers a pathway to citizenship and request that the Trump Administration comply with the recent Fifth Circuit Court of Appeals ruling that mandated the resumption of processing of DACA applications. Most recently, he cosponsored a bill to prohibit the sharing of personal data of DACA program applicants with immigration officials.

MIL OSI USA News –

August 5, 2025
MIL-OSI USA: On Senate Floor, Shaheen Leads Colleagues in Attempts to Lessen Harmful Impacts of Trump Tariff Taxes on American Families and Businesses; Republicans Block Shaheen Bill to Shield Granite Staters from Higher Costs
US Senate News:
Source: United States Senator for New Hampshire Jeanne Shaheen

**Shaheen’s bill would have clarified that the President does not have the authority to level sweeping tariffs through the International Emergency Economic Powers Act (IEEPA), but it was blocked from passage by Senate Republicans**

(Washington, DC) – Ahead of many of President Trump’s sweeping tariffs taking effect on Friday, U.S. Senator Jeanne Shaheen (D-NH), Ranking Member of the U.S. Senate Foreign Relations Committee and a top member of the U.S. Senate Committee on Small Business and Entrepreneurship, took to the Senate floor this evening to call for unanimous consent to pass her Protecting Americans from Tax Hikes on Imported Goods Act and lead her colleagues in highlighting the devastating impacts the President’s trade war has on families, small businesses, American manufacturing and key trade partnerships across the world. If Senate Republicans had not blocked the move, Shaheen’s legislation would have clarified that the President does not have the authority to invoke the International Emergency Economic Powers Act (IEEPA) to level sweeping tariffs. Click HERE to watch Shaheen’s remarks in full.

U.S. Senators Peter Welch (D-VT), Maria Cantwell (D-WA), Ed Markey (D-MA), Ron Wyden (D-OR), Amy Klobuchar (D-MN) and Richard Blumenthal (D-CT) joined Shaheen to underscore the damaging effects of the Trump tariff taxes.

Key quotes from Senator Shaheen:
- “Those tariffs are expected to add about $2,400 in costs for the average household per year. That’s why I introduced the Protecting Americans from Tax Hike on Imported Goods Act. This bill states clearly that the International Emergency Economic Powers Act cannot be used to place taxes on imports. If the President needs to block a dangerous product, he still can under my legislation. But if there is a real threat, I think we’d want to stop it, not just tax it. That’s what my bill does. It makes clear what a Federal Court has already found: that IEEPA, the International Emergency Economic Powers Act, does not authorize tariffs. Passing my bill would give businesses and families more certainty to plan for the future, and to keep more of their hard-earned dollars in their pockets.”
- “Now we just saw a deal announced with the EU by the President and Ursula von der Leyen, the head of the European Commission, forcing 15% taxes on imports. Now compare that to what we were paying in 2024 for at the same time. That was about 1.5%. So under this “great deal” that the President negotiated with the EU, Americans are going to be paying ten times what we paid last year. And with Japan, President Trump agreed to a 15% tax. That’s also ten times what we were paying last year. So, let’s not pretend that these are some big wins. The President can announce that, but they’re only a slight improvement on a crisis that the President created himself.”
- “At a time when people are rightly worried about the rising cost of living, Trump’s tariffs amount to a tax to make everything from clothes to housing to food even more expensive. For example, last month, home prices hit a record high. And these tariffs could add more than $10,000 to the cost of a home. Coffee prices hit a record high earlier this year, and now President Trump wants to put a 50% tariff on Brazil, our largest source of coffee. As families do their back to school shopping, they’re going to see higher prices for clothing and shoes. Those prices could go up by 35% by the end of the year. And for new parents, just for example, the price of one stroller at Walmart went up 50% in two months.”
Full Remarks as Delivered

On Friday, we may be facing the next escalation in the President’s trade war. The tariffs that the President announced in April on virtually every country in the world are set to go into full effect tomorrow night at 12:01 AM.

Those tariffs are expected to add about $2,400 in costs for the average household per year.

That’s why I introduced the Protecting Americans from Tax Hike on Imported Goods Act. This bill states clearly that the International Emergency Economic Powers Act cannot be used to place taxes on imports. If the President needs to block a dangerous product, he still can under my legislation.

But if there is a real threat, I think we’d want to stop it, not just tax it. That’s what my bill does. It makes clear what a Federal Court has already found: That IEEPA, the International Emergency Economic Powers Act, does not authorize tariffs.

Passing my bill would give businesses and families more certainty to plan for the future, and to keep more of their hard-earned dollars in their pockets.

Virtually every business in New Hampshire that I’ve visited since the President announced his proposed tariffs has said that, in addition to the tariffs, the uncertainty is as difficult for them as the tariffs.

So, I’m disappointed that Senator Crapo decided to block this commonsense legislation. Sadly, I’m not surprised.

But this bill would do so much to help families and businesses in all of our states. It would shield them from higher costs.

And we’ve been hearing about some of these deals that Senator Crapo referred to that have been reached with the EU and Japan. But let’s be clear about what those deals mean, because even after those deals, those “agreements”, trade agreements, Americans are going to be left paying dramatically higher tariffs.

A new analysis this week found that we will be paying the highest tariffs since the Great Depression. And we saw what those tariffs before the Great Depression contributed to.

Now we just saw a deal announced with the EU by the President and Ursula von der Leyen, the head of the European Commission, forcing 15% taxes on imports.

Now compare that to what we were paying in 2024 for at the same time. That was about 1.5%. So under this “great deal” that the President negotiated with the EU, Americans are going to be paying ten times what we paid last year.

And with Japan, President Trump agreed to a 15% tax. That’s also ten times what we were paying last year.

So, let’s not pretend that these are some big wins. The President can announce that, but they’re only a slight improvement on a crisis that the President created himself.

At a time when people are rightly worried about the rising cost of living, Trump’s tariffs amount to a tax to make everything from clothes to housing to food even more expensive.

For example, last month, home prices hit a record high. And these tariffs could add more than $10,000 to the cost of a home.

Coffee prices hit a record high earlier this year, and now President Trump wants to put a 50% tariff on Brazil, our largest source of coffee.

As families do their back to school shopping, they’re going to see higher prices for clothing and shoes.

Those prices could go up by 35% by the end of the year.

And for new parents, just for example, the price of one stroller at Walmart went up 50% in two months.

And there are countless more products that are facing higher prices.

So let’s be clear: These tariffs do nothing to bring down costs. And in fact, I could add, as I said earlier in this statement, about $2,400 to the average household’s yearly expenses.

That’s money that most families don’t have just lying around. We have all of those costs from these tariffs. And yet at this moment, 30 hours from when the tariffs are going to go into effect, we still have seen no official notice implementing any of these deals.

And that includes, by the way, no clarity on whether prescription drugs coming from Europe will face a 15% tariff starting in two days.

I had a chance to meet with a pharmaceutical company this week, and they were lamenting what the impact was going to be on prescription drug prices because of the tariffs from the EU.

Last Friday, I visited the Brueckner Group in New Hampshire. They supply equipment to domestic manufacturers and import some of their specialized machines, which they make in Europe.

The machines they bring in are sold to manufacturers here in the U.S. to make everything from IV bags to toothpaste containers. They have 80 employees in the U.S., and far more work on their machines at other companies across the country.

They saw orders put on hold in April, and further investments in the U.S. are delayed because they can’t be certain what the tariffs are going to be that they might face.

So they told me that even worse than the tariffs in some way, is the uncertainty that’s been created, the chaos that’s been created by President Trump’s announcements because people don’t know how to plan. Businesses don’t know what to invest in.

I believe in supporting domestic manufacturing. It’s New Hampshire’s third largest industry, but half of all imports are raw materials and intermediate goods. The very things that domestic manufacturers rely on.

Instead of supporting domestic manufacturing, these trade policies are making future American manufacturing more expensive. And furthermore, they’re threatening jobs.

You know, my husband and I started out our married life owning and operating a small business. I know the hardest part of small businesses is growing and sustaining those businesses when you’re uncertain about what’s going to happen. And that’s what these tariffs create. As I heard, Brueckner Group USA, as I’ve heard of every business I’ve visited.

When I visited Brueckner four days ago, we had a 10% tax on everything imported from the EU, and at the time, that was set to jump to 30% this Friday. Then Sunday we saw an agreement to set the tax at 15%, but with unclear exceptions to that tax. Like as I heard from the pharmaceutical company, with prescription drugs.

I also heard from Flight Coffee Roasters in Bedford, New Hampshire. They’re worried about the President’s threat to place new tariffs on Brazil because they’ve already been paying a 10% markup on coffee because of these tariffs. Now they’re facing a 50% tax on Brazilian coffee starting on Friday, and they have no choice but to charge consumers more.

Their most popular product comes from Brazil. So this is a big hit to their business. And they can’t be sure how this is going to impact their sales.

And we should be clear, the U.S. has a trade surplus with Brazil.

This threat is just because the President wants Brazil’s independent judiciary to stop the prosecution of Brazil’s former President.

How is any business supposed to plan for that kind of rationale and for those kinds of swings?

They need to secure financing. They need to place orders. They need to invest in order to grow in the months and years ahead.

But building a new plant and moving production takes time. In some cases, it takes years.

So how can companies plan when they don’t even know whether the Trump tax, his tariff, is going to be 10% or 30% or something in between or something higher?

New Hampshire’s in a housing crisis. How can builders plan their costs when no one can tell them if there’s going to be a new 30 or even 50% tax on their materials come Friday?

And how can a family already struggling with high costs continue to pay the rent and put food on the table if their household expenses are going up $2,400 this year?

And now, on Friday, the administration is planning to make the good businesses and families need 10 or 30 or 40 or 50% more expensive overnight.

This President promised to lower the price of everything: Groceries, rent, energy. What these tariffs do is just the opposite.

And we’re hearing a lot of positive spin from the administration about the deals that they’re striking. But let me end by making two points.

First, we heard a lot of talk about 90 deals in 90 days. Well, we’re way past that deadline. And we’ve seen six, count them, six announcements. And it’s not even clear that Vietnam has actually agreed to what the President announced.

Second, I want to remind all of us that these deals all force Americans and American businesses to pay a tax rate that is far higher than what we saw before the President engaged in this trade war.

I talked earlier about how for both Europe and Japan, Americans will face a tax that’s ten times higher than we paid last year. That same trend holds across every deal he’s announced.

With Indonesia, he agreed to a 19% tax, four times what we paid last year. With the Philippines, a 20% tax, up from 1.3%. So 15 times what we paid last year. And for the UK, where we have a trade surplus, again, a trade surplus, he agreed to a 10% tariff, again ten times what we paid in 2024.

So we should be very clear: All of these rates are an increase from what Americans have been paying since April.

This President has raised average tariffs from 2.5% to more than 17%, the highest level since the Great Depression.

Again and again, he is adding cost to American families and businesses. And what are these costs for? They’re to finance tax cuts for the wealthiest Americans, for the biggest corporations.

The end result of the President’s art of the deal on trade is higher costs for families, uncertainty for businesses and alienated allies who no longer view America as a reliable partner to do business with.

Thank you, Mr. President. I yield the floor.

Senator Shaheen is helping lead efforts in Congress to mitigate the harmful impacts of President Trump’s tariffs. Last week, Shaheen helped introduce bipartisan legislation, Creating Access to Necessary American-Canadian Duty Adjustments (CANADA) Act, that would exempt United States-owned small businesses from the sweeping tariffs imposed on Canadian products. Last month, Shaheen led 30 Senators in filing an amicus brief in a key case, Oregon v. Department of Homeland Security, challenging the Trump Administration’s abuse of emergency powers to impose tariffs. In January, Shaheen introduced the Protecting Americans from Tax Hikes on Imported Goods Act.

In recent months, Shaheen has traveled across the Granite State to discuss the impact of tariffs on New Hampshire’s tourism industry and to visit businesses impacted by President Trump’s trade war including Brueckner Group USA, Colby Footwear, Chatila’s Bakery, C&J, DCI Furniture, Mount Cabot Maple, American Calan Inc. and NH Ball Bearings.
MIL OSI USA News –
August 5, 2025
MIL-OSI USA: WATCH: On Medicaid’s 60th Anniversary, Hickenlooper Hammers Republicans’ Reckless Decision to Gut Medicaid, Strip Health Care from 15 Million Americans

US Senate News:

Source: United States Senator John Hickenlooper – Colorado

Hickenlooper: “They are making the people who suffer the most suffer more. That is not the America that I believe in.”

Hickenlooper helped introduce new legislation to repeal Republicans’ health cuts, protect rural hospitals, seniors’ nursing care

WASHINGTON – Today, on Medicaid’s 60th anniversary, U.S. Senator John Hickenlooper spoke on the Senate floor to call out the Republicans’ disastrous budget bill that slashes more than $1 trillion in funding for Medicaid and health care services to pay for tax cuts for the ultra-wealthy. He also joined his Senate Democratic colleagues to introduce two new bills that would repeal the Republicans’ health care cuts in their “Big Beautiful Betrayal.”

“They cut more than $1 trillion from Medicaid, the Affordable Care Act, and food stamps – the programs that help struggling Americans meet their most basic human need for food and health care. Again, just so they could pass the largest transfer of wealth from the poor to the rich in the history of our country,” said Hickenlooper.

Earlier this month, Republicans narrowly passed their extreme budget bill that will increase prices for Coloradans, lead to 15 million Americans losing their health care, increase the deficit by $4 trillion, and hand out tax breaks to the wealthiest Americans.

Specifically, their bill slashed more than $1 trillion in Medicaid funding and failed to extend the Affordable Care Act premium tax credits. As a result, an estimated 15 million people will lose health benefits.

In his speech, Hickenlooper highlighted how these cuts to Medicaid will disproportionally hurt rural hospitals like Sunrise Monfort Community Health Clinic in Evans, Colorado.

“Sunrise’s network of 14 rural health clinics serves 43,000 patients across a broad swath of Northern Colorado. [50%] of them are enrolled in either Medicaid or Medicare,” Hickenlooper continued. “They estimate that those cuts in Medicaid will force between 7,000-14,000 of their patients off of health care. That’s ¼ of their patients. Again, all because lawmakers in Washington had decided to give still bigger tax cuts to the ultra-wealthy.”

Hickenlooper voted NO on the bill after Republicans voted down critical Democratic-led amendments to prevent cuts to Medicaid, extend the Affordable Care Act enhanced premium tax credits, and safeguard small businesses and nursing homes from Medicaid cuts. He fought against the bill in the Senate and has continued to raise alarm about its impacts after Republicans passed it.

Hickenlooper introduces bills to reverse health care cuts

Today, Hickenlooper joined the entire Democratic caucus to introduce two new bills that would rollback the Republicans’ disastrous health cuts in their budget bill and protect health care for millions of Americans.

The Protecting Health Care and Lowering Costs Act would repeal all of the provisions in the health section of the Republicans’ dangerous bill. Specifically, it would prevent millions of Americans from losing their health care and rural health clinics from closure. The legislation would also extend the Affordable Care Act enhanced premium tax cuts which lower health care costs for millions of Americans.

The Restoring Essential Health Care Act would specifically repeal the provision in the Republicans’ reckless bill that defunds Planned Parenthood. The Republican provision restricts Medicaid reimbursements for organizations that offer abortion services, even though it is already illegal to use federal funding for abortion. This week a federal judge blocked the provision.

To download a full video of Hickenlooper’s remarks, click HERE. A full transcript of his remarks is available below:

“Mr. President,

“The United States is the wealthiest country on earth.

“I think it’s fair to say it’s the wealthiest country in the history of the world. Probably in the history of the solar system.

“What we do with that wealth speaks volumes about who we are as a country.

“And about the responsibility we feel to our fellow Americans. It defines us.

“Earlier this month, Republicans passed, what I would call, a truly devastating budget bill that gives many of the wealthiest people in this country – many of whom don’t want a tax break – but gives many of the wealthiest people in this country and corporations a $4.5 trillion tax break.

“That was their goal. They just needed to find a way to pay for it. Well actually, they only paid for a small part of it.

“But in doing so they cut more than $1 trillion from Medicaid, the Affordable Care Act, and food stamps – the programs that help struggling Americans meet their most basic human need for food and health care.

“Again, just so they could pass the largest transfer of wealth from the poor to the rich in the history of our country.

“That speaks volumes about who this administration values.

“But what does the bill mean for Americans?

“Over time, 15 million Americans are going to lose their health care. Are likely to lose their health coverage. 241,000 of them live in Colorado. Hundreds and hundreds of hospitals around the country are at risk of closure, many of them in Colorado.

“Take the Sunrise Monfort Community Health Clinic in Evans, Colorado.

“We were there in May, and Sunrise’s network of 14 rural health clinics serves 43,000 patients across a broad swath of Northern Colorado. [50%] of them are enrolled in either Medicaid or Medicare.

“And we spoke with their CEO back in May, and we were told point blank that gutting Medicaid… will force them to dramatically cut services.

“They estimate that those cuts in Medicaid will force between 7,000-14,000 of their patients off of health care. That’s ¼ of their patients.

“Again, all because lawmakers in Washington had decided to give still bigger tax cuts to the ultra-wealthy, and again many of whom don’t want or need tax cuts.

“It’s nuts.

“The administration knew taking health care away from many Americans would be unpopular.

“So they crafted and snuck in a provision to solve that: most of the Medicaid cuts won’t take place until 2027.

“Why wait until 2027, you might ask? Well because it’s after the midterm elections at the end of 2026.

“They basically gutted our social safety net system, and then they found a way to make sure that Republicans would be insulated from the immediate political costs, from their voters.

“That’s why right now they’re building a massive public relations campaign to go out and sell the bill to Americans.

“They, so far, completely deny that this bill is going to harm Americans in any way. Instead, they say it’s about government “efficiency” and cutting out waste, fraud, and abuse.

“Well listen, I’m all for making government more efficient. When I was Mayor of Denver, we made the city smaller. We had a hiring freeze for 2 ½ years. We asked workers to do more with less and they did that. But we did it in increments and we worked to make sure that people knew how much they were valued, and that they could make a difference.

“When I was Governor of Colorado, we balanced our budget every single year. We went through every board and regulation that we could find on the books – 24,500 rules and regulations. And we simplified or eliminated 11,000. We did all this without cutting services and without cutting resources that people rely on.

“Now Republicans knew they were going way beyond “waste, fraud, and abuse” – that’s part of the reason it took 24 hours of voting and arm-twisting to pass this, what we call in my family, god-awful bill. They knew they were going to be hurting their constituents, and Americans.

“The bill itself is a prime example of, what my grandfather used to call, a drunken spending spree – it’s gonna cost the American people more than $4 TRILLION when you consider the interest payments on the national debt.

“And none of the arguments that the Republicans have used have legs.

“Ultimately, the bill isn’t just $1 trillion in cuts from Medicaid and the Affordable Care Act – it really, through these rules and paperwork, creates new barriers to access. That means more paperwork, more hoops for families to jump through.

“Under Trump’s Big Ugly Bill, government “efficiency” just means rolling out the red tape. Miles and miles of it.

“And who pays the price?

“Well, rural Coloradans are going to pay some price. People living in Cortez, Lamar, or Rifle will pay a price when their closest health care center closes.

“Pregnant women who have to drive 50 miles to get to their closest hospital…

“Kids who lose their health care because their parents had to navigate so much red tape to prove they do in fact meet the requirements will pay the cost.

“Adult children who can’t provide sufficient “proof” that their full-time job is taking care of a disabled parent.

“Now, listen to this. If you’re a single adult in Colorado, you don’t even qualify for Medicaid if you earn [more] than $1,735 a month. That means making less than $10.01 an hour.

“If you make $10.02 an hour you already don’t qualify for Medicaid. So people making less than $10 an hour have to fill out reams of paperwork to demonstrate that they qualify.

“They should be able to show their W2 and say ‘Hey, I’m making $9.50 an hour’ and that should be enough.

“But somehow there’s a worry that people making less than $10 an hour should have to fill out all of this other paperwork. What kind of a bizarre world do we live in?

“Bottom line: Republicans are cutting costs by punishing the poorest and most needy in our country when they can’t keep up. They are making the people who suffer the most suffer more.

“That’s not the America that I believe in.

“The Medicaid system isn’t perfect.

“It exists in our country, because that country decided that no matter where you live, or how little money you make, working Americans deserve basic health care.

“Who knows, someday we might get everyone covered. It’s a vow we need to make.

“And certainly when we created Medicaid it was a vow we made to help take care of many of the neediest people in our country.

“Because our country is measured not by how we treat the people at the very top, but how we treat large numbers of Americans who start at the bottom, striving for a better life.

“That’s how our country should be measured.

“And that’s the dream we are all chasing.

“And ultimately, it’s the American people who will have the final word.

“Thank you, Mr. President, I yield the floor.”

MIL OSI USA News –

August 5, 2025
MIL-OSI Africa: Government welcomes reduction in repo rate

Source: Government of South Africa

Government welcomes reduction in repo rate

Government has welcomed the South African Reserve Bank’s (SARB) decision to cut the repo rate by 25 basis points to 7%.

“Government welcomes the decision by the South African Reserve Bank to reduce the repo rate by 25 basis points to 7%. The move provides much-needed relief for South African households, many of whom continue to face financial pressure due to the rising cost of living,” Acting Government Spokesperson, Nomonde Mnukwa, said on Thursday.

Addressing a media briefing on the MPC’s decision on the repo rate, SARB Governor Lesetja Kganyago said the decision to reduce the policy rate was unanimous.

READ | Reserve Bank cuts repo rate by 25 basis points

Mnukwa said the rate cut is expected to ease the burden on consumers by lowering the cost of borrowing, while also creating conditions more conducive to stimulating investment, supporting businesses, and driving economic activity.

“The decision reaffirms the soundness of South Africa’s monetary policy framework and the importance of coordinated efforts to support inclusive growth. Government continues to implement structural reforms and improving the ease of doing business to unlock the full potential of the economy and create jobs,” Mnukwa explained. – SAnews.gov.za

Neo
Thu, 07/31/2025 – 15:56

MIL OSI Africa –

August 5, 2025

MIL-OSI: Equasens: H1 revenue at 30 June 2025: €116.0m

Source: GlobeNewswire (MIL-OSI)

Villers-lès-Nancy (France), 31 July 2025 – 6:00 PM (CET)

PRESS RELEASE

H1 revenue at 30 June 2025: €116.0m
+7.4% on a reported basis and +6.4% like-for-like

H1 2025 Group revenue (€m)	2024 Reported basis	2025 Reported basis	Change / Reported basis		Of which external growth	Like-for-like change (organic growth)
Q1	53.3	57.0	3.7	6.9%	0.5	3.2	5.9%
Q2	54.7	58.9	4.3	7.8%	0.5	3.8	6.9%
Total	108.0	116.0	8.0	7.4%	1.1	6.9	6.4%

H1 2025 revenue / Division (€m)	2024 Reported basis	2025 Reported basis	Change / Reported basis		Of which external growth	Like-for-like change (organic growth
Pharmagest	82,1	85,9	3,9	4,7%		3,9	4,7%
Axigate Link	15,4	16,5	1,0	6,7%		1,0	6,7%
e-Connect	5,5	7,5	2,0	36,6%		2,0	36,6%
Médical Solutions	3,9	5,1	1,1	29,1%	1,1	0,1	2,2%
Fintech	1,1	1,0	-0,1	-7,6%		-0,1	-7,6%
Total	108,0	116,0	8,0	7,4%	1,1	6,9	6,4%

As of 30 June 2025, Equasens Group (Euronext Paris™ – Compartment B – FR 0012882389 -EQS), a leading provider of digital solutions for healthcare professionals, reported revenue of €116.0m, up 7.4% from H1 2024 on a reported basis and 6.4% like-for-like.

Revenue from CALIMED SAS, acquired by the Medical Solutions Division in December 2024, was restated to reflect changes in the scope of consolidation (€1.1m).

H1 2025 highlights by type of business

In order to facilitate the analysis of performance, a new breakdown of the Group’s activities is proposed: “maintenance and subscriptions” includes all recurring revenues, and “software and services” mainly includes license sales and revenues from training, consulting, and intermediation.

Configuration and hardware sales (+9.9%) remain a major growth driver for the Group, particularly for the Pharmagest (+6.1%) and e-Connect (+125.9%) Divisions
Maintenance and subscriptions (+5.5%) grow steadily, benefiting from customer loyalty and the success of SaaS offerings, particularly in the Axigate Link Division (+5.6%). Calimed (Medical Solutions Division) contributed growth of 2.0% to this segment.
Software solutions and services (+6.4%) continue to perform very well, driven by license sales, particularly those linked to the Pharmagest Division’s latest product launches (+4.6%) and by new deployments by the Axigate Link Division (+8.9%).

H1 2025 revenue / Activity (€m)	2024 Reported basis**	2025 Reported basis	Change / Reported basis
Configurations and hardware	42.9	47.1	4.2	9.9%
Maintenance and subscriptions	48.7	51.4	2.7	5.5%
Software and services	16.4	17.4	1.1	6.4%
Total	108.0	116.0	8.0	7.4%

* Maintenance and subscriptions: recurring revenues including SaaS
** 2024 reported basis: reconstituted data

H1 2025 highlights by Division

The PHARMAGEST Division recorded H1 revenue of €85.9m (+4.7%). This performance confirms the positive momentum that began in Q1 2025, driven by innovation and improved customer satisfaction.

In France, all business activities grew (+3.4% to €74.0m), driven by:
- Equipment renewal needs and new equipment offerings, the “electronic labels” business was particularly buoyant in the second quarter.
- The launch, in early 2025, of differentiating software solutions focused on pharmacy automation, productivity and safety. The market response to these new solutions has been very positive, with over 800 id.genius and 160 id.secure box sold.
- Electronic invoice management solutions for pharmacies (Digipharmacie), which confirmed its market leadership by adding more than 900 new customers.
- Only the professional training sector (Atoopharm) is experiencing a slowdown in response to changes in the regulatory environment, and in particular a one-year extension of the training cycle.

In Italy, sales grew evenly across both wholesale and pharmacy activities (+16.5% to €7.7m). This positive sales momentum remained strong, with the opening of more than 150 new pharmacies in the first half.
In Germany, sales were up (+11.2% to €3.0m) in both the medication adherence and pharmacy management segments, thanks in particular to the success of id.express payment terminals.
In Belgium, the return to growth has been confirmed (+6.4% to €1.2m).

This Division accounts for 74.1% of total revenue.

The AXIGATE LINK division reported H1 2025 revenue of €16.5m (+6.7%).

The Nursing Home sector (+4.5% to €8.4m) has benefited from the ESMS NUMERIQUE public funding in France, resulting in a strong business performance. Titanlink has been deployed at 164 sites since January 2025 in France (789 in total) and 16 in Belgium (58 sites in total).
The Homecare sector (+13.9% to €3.9m) has continued to perform well, driven by the signing of new contracts and the success of offers designed for Regional Resource Centres (CRT) and Family Caregiver Support Services (PFR). Expansion into the Home Care Services market has met with a very positive response.
The Hospital sector (+16.6% to €2.1m) has been particularly successful, with the signature of contracts for four hospital networks, confirming the growing reputation of the Axigate Hospilink solution in this market.

This Division accounts for 14.2% of total revenue.

The E-CONNECT division reported H1 2025 revenue of €7.5m (+36.6%).

Building on the momentum of Q1, the Division continued to roll out its Mobility solutions at a rapid pace, notably eS-KAP+, a new solution launched in Q1 2025 that has been very well received by more than 20 key software publishers in this market.
Since March 2025, the project to equip smartphones with a digital solution of the French health insurance card (Apps Vitale) has been gradually rolled out in accordance with the regional timetable established by the French national health insurance system.

This Division accounts for 6.5% of total revenue.

The MEDICAL SOLUTIONS Division had €5.1m in revenue, up 29.1% on a reported basis and 2.2% like-for-like.

The integration of Calimed (acquired at the end of 2024) has been the main driver of this growth as its SaaS offering for surgeons and doctors continues to attract new customers thanks to its high added value for these professions.
The Division’s long-standing solutions are benefiting from the very positive response to new offerings like the LOQUii voice-based AI companion and add-on services like online backup, attesting to the loyalty of the customer base and the strength of the recurring model in an intensely competitive environment.

The Division accounts for 4.4% of total revenue.

The FINTECH Division had H1 revenue of €1.0m (-7.6%).

Efforts are continuing to clean up the customer portfolio to limit risk exposure and improve its quality.
Sales remained buoyant in a difficult economic environment.

The Division accounts for 0.9% of total revenue.

Material subsequent events after 30 June 2025 Acquisition of the DIS and ResUrgences businesses – Strategic reinforcement of the AXIGATE LINK Division

On July 1^st, 2025, the Group finalized the acquisition of two businesses specialising in solutions for the public healthcare sector: Novaprove (publisher of ResUrgences software) and the business assets of DIS. This strategic acquisition, which adds more than 300 customers from the public healthcare sector and generates annual revenue of around €5m, significantly strengthens the position of the Axigate Link Division in the hospital and medical-social software market.
ResUrgences, a cloud platform specialising in the management of hospital emergency services, used by eight university hospitals and 75 other establishments, and the DIS range representing a comprehensive suite of digital solutions used by 215 sites (125 healthcare establishments and 90 nursing homes), further enhance the Division’s existing offering. The integration of these new functional modules (Electronic Patient Records, invoicing, accounting, inventory management, and HR) into the Hospilink, Titanlink and Domilink ranges will create a comprehensive ecosystem to support the digital transformation of public and private institutions, in line with the Group’s ambition to become the leading technology partner for the French healthcare system.

H2 2025 outlook:

Encouraged by the positive commercial momentum experienced across all of its divisions in H1 2025, Equasens Group looks ahead to the second half with confidence for which it is expecting continuing growth.
At the same time, Equasens Group remains attentive to the decisions of public authorities regarding the level of financial compensation granted by health insurance for the purchase of generic and biosimilar medicines. These decisions could have an impact on pharmacy economics and the pharmacy network.
The investment and structural efforts made since 2024 are starting to show results, with the successful rollout of new software solutions for all healthcare professionals. These measures will be maintained for the remainder of FY 2025.
The integration of DIS and ResUrgences businesses, effective as of 1 July 2025, will start contributing to the performance of the Axigate Link Division in Q3 and will create promising technical and commercial synergies.
With a solid financial structure, the Group remains attentive to opportunities for external growth, both in France and in Europe that will strengthen its position as a leader in digital healthcare solutions.

Financial calendar:

H1 2025 results: 26 September 2025
Presentation of H1 2025 results to analysts (SFAF): 29 September 2025 – Paris
Q3 2025 revenue: 5 November 2025
FY 2025 revenue: 5 February 2026

About Equasens Group

Founded over 35 years ago, Equasens Group, a leader in digital healthcare solutions, today employs over 1.300 people across Europe.
Equasens Group’s specialised business applications facilitate the day-to-day work of healthcare professionals and their teams, working in private practice, collaborative medical structures or healthcare establishments. The Group also provides comprehensive support to healthcare professionals in the transformation of their profession by developing electronic equipment, digital solutions and healthcare robotics, as well as data hosting, financing and training adapted to their specific needs.
And reflecting the spirit of its tagline “Technology for a More Human Experience”, the Group is a leading provider of interoperability solutions that improve coordination between healthcare professionals, their communications and data exchange resulting in better patient care and a more efficient and secure healthcare system.

Listed on Euronext Paris™ – Compartment B

Indexes: MSCI GLOBAL SMALL CAP – GAÏA Index 2020 – CAC^®SMALL and CAC^®All-Tradable
Included in the Euronext Tech Leaders segment and the European Rising Tech label

Eligible for the Deferred Settlement Service (“Service à Réglement Différé” – SRD) and equity savings accounts invested in small and mid caps (PEA-PME).
ISIN: FR 0012882389 – Ticker Code: EQS

Get all the news about Equasens Group www.equasens.com and on LinkedIn

CONTACTS

EQUASENS Group
Analyst and Investor Relations:
Chief Administrative and Financial Officer: Frédérique Schmidt
Tel: +33 (0)3 83 15 90 67 – frederique.schmidt@equasens.com

Financial communications agency:
FIN’EXTENSO – Isabelle Aprile

Tel.: +33 (0)6 17 38 61 78 – i.aprile@finextenso.fr

Forward-looking statements
This press release contains forward-looking statements that are not guarantees of future performance and are based on current opinions, forecasts and assumptions, including, but not limited to, assumptions about Equasens’ current and future strategy and the environment in which Equasens operates. These involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements, or industry results or other events, to materially differ from those expressed in or implied by such forward-looking statements. These risks and uncertainties include those detailed in Chapter 3 “Risk factors” of the Universal Registration Document filed with the French financial market authority (Autorité des Marchés Financiers or AMF) on April 29, 2025 under number D.25-0334. These forward-looking statements are valid only as of the date of this press release.

Attachment

EQUASENS_PR_20250731_2025-FY-revenue_EN

The MIL Network –

August 5, 2025

MIL-OSI USA: Senator Marshall: Let’s Get Government Employees Closer to the People They Serve

US Senate News:

Source: United States Senator for Kansas Roger Marshall

Senator Marshall Joins RFD-TV to Discuss USDA Relocation & Trump Trade Deal
Washington – On Thursday, U.S. Senator Roger Marshall, M.D. (R-Kansas), joined Suzanne Alexander on RFD-TV’s Market Day Report to discuss the USDA coming to Kansas City as part of their relocation efforts, President Trump’s trade deals and their significance to American agriculture, and his legislation to bring farmers more clarity, the Clear Waters Act.

Click HERE or on the image above to listen to Senator Marshall’s full interview.
On USDA reorganization:
“You know, the farmers and ranchers were the original conservationists, and we need to keep bragging on the USDA reorganization. Look, I’m excited to get government employees closer to the people that they serve. So, 4000 USDA employees here in DC, by the way, only 6% of them were working in the offices until January of this year, February of this year. So, we’re going to move about half of those out to the country, and one of those places is Kansas City. And what I’m excited about moving more workers to the Kansas City offices, number one, we get more Kansas City Chiefs fans. But beyond that, they’re going to be closer to my alma mater, Kansas State University, Iowa State University, Nebraska, really some of the strongest ag schools in America, and that’s going to help populate that USDA program there in Kansas City. It’s agriculture economics they focus on, as well as handing out the grants for agriculture research. So, I just think getting USDA workers closer to their customers has to be a good thing. So, I’m excited.”
On USDA relocation pushback in Congress:
“Look, I have a great deal of respect for Senator Klobuchar. She’s a good friend, but I we respectfully disagree. This has been well thought out. The first time I met Secretary Rollins in person, back in, goodness, it may have been November, December of last year, she talked about this reorganization. So, I think every member on that committee has had a chance to have her come in and talk about this. This isn’t half-baked. The Assistant Secretary, Steven Vaden, former Judge Vaden, international trade court judge is in charge of this plan. I think it’s well thought out. And again, I just don’t know what American is going to come up to me and say, “It’s not a good idea to move people out of Washington, DC.” I would take two-thirds of the Federal officers that are working here in DC and move them out to those flyover states. It’s just such a different culture here in Washington, DC – it is the swamp. I just think when you have USDA workers going to church, going to soccer games, going to a Kansas State football game together, that they’re going to just have a better product when it’s all said and done.”
On the Clear Waters Act:
“Yeah, think about Waters of the US. This has been going on since 1972. You get a Democrat president in office, and they expand what water the US has. And we get President Trump in office, and he tries to cut it back. But what our bill does is clarify this and give our farmers certainty. Look, your listeners understand that a pothole, that a pond, that is not a navigable stream. So, we clearly define what navigable streams are, that it needs to be a body of water that can continuously flow and touches one of those main navigable streams. Kansas only has three navigable streams, for instance, throughout the years. So, it just gives us some clarity. But I want to emphasize to anyone on the other side of this that farmers and ranchers are the best environmentalists. Those that are that are practicing modern precision agriculture are decreasing the drift from their fields by 90% using modern-day agriculture techniques. We’re decreasing 90% of the drip from those fields. But I just want to get the farmers, the ranchers, some certainty, our dairy farmers, people that have feed lots, we need certainty in this area. And look, we’re going to do our best to take care of the environment as well.”
On the Dairy Pride Act:
“Well, I think there’s a lot of fake products out there, right? And with all due respect to almond juice and some of the other juices out there, they’re not milk products. As far as I’m concerned. I don’t know why they’re in the milk portion of the grocery store, just like I don’t want plant-based protein sitting beside a hamburger born and raised and processed in Kansas. So, I think again, we just want customers to know what they’re drinking or eating. And almond juice is not milk. And by the way, we’re getting closer and closer to getting whole milk, there it is, whole milk back into schools as well.”
On how Trump trade deals are benefiting American agriculture:
“I’m just so ecstatic to see these chickens come home to roost, right? President Trump has used these tariffs to negotiate better trade deals, trade deals that I hope are going to let our grandchildren continue to work on our farms. Look, we’ve not sold a cheeseburger to Europe, a gallon of ethanol to England in my lifetime. So, beyond just the tariffs, what the President is doing is removing non-tariff barriers. And again, your listeners are educated. They understand what China [and] the EU does to keep American agriculture products out of those countries. So, by removing those, we’re going to sell more and more products. And I just, you know, there are lots of things we could talk about, but look at President Trump’s strategy here, how he’s boxing in China. Last night, he announced a deal with South Korea, but beyond that, the EU, Indonesia, the Philippines, Vietnam, Japan, Australia, basically, he’s boxed China in here. China was doing a lot of trans shipments. So, they would make, say, t-shirts or tennis shoes. They would send it to Vietnam and bring it into this country on Vietnam tariff levels. Well, President Trump wasn’t born yesterday, so he’s tightening up that portion, and we’ll get that China trade deal soon, hopefully before the fall. Fall crops need to be harvested.”

MIL OSI USA News –

August 5, 2025
MIL-OSI USA: Cantwell Joins Senate Democrats, Calls for Large-Scale Expansion of Humanitarian Aid in Gaza, Resumption of Diplomatic Efforts to Secure a Ceasefire & End the War

US Senate News:

Source: United States Senator for Washington Maria Cantwell

07.28.25

Cantwell Joins Senate Democrats, Calls for Large-Scale Expansion of Humanitarian Aid in Gaza, Resumption of Diplomatic Efforts to Secure a Ceasefire & End the War

“Humanitarian situation remains dire” in Gaza, and urgent measures are needed, wrote the Senators in a letter to Secretary of State Marco Rubio and Special Envoy to the Middle East Steve Witkoff

WASHINGTON, D.C. – Yesterday, U.S. Senator Maria Cantwell (D-WA) and 43 other Senate Democrats expressed unified alarm about the humanitarian crisis in Gaza, called for the large-scale expansion of humanitarian aid, and urged the Trump Administration to resume diplomatic efforts to secure a ceasefire agreement and end the war.

“The acute humanitarian crisis in Gaza is also unsustainable and worsens by the day. Hunger and malnutrition are widespread, and, alarmingly, deaths due to starvation, especially among children, are increasing. The ‘Gaza Humanitarian Foundation’ has failed to address the deepening humanitarian crisis and contributed to an unacceptable and mounting civilian death toll around the organization’s sites. To prevent the situation from getting even worse, we urge you to advocate for a large-scale expansion of humanitarian assistance,” the Senators wrote.

The letter, sent to Secretary of State Marco Rubio and U.S. Special Envoy to the Middle East Steve Witkoff, underscores the remaining viable pathway that would end the war, bring home Israeli hostages, ensure Hamas can no longer pose a serious military threat to Israel, and achieve a diplomatic resolution of the Israeli-Palestinian conflict.

The Senators also affirm their opposition to the permanent forced displacement of the Palestinian people, which would be contrary to international humanitarian law and a sustainable and lasting peace.

“We ask that the Administration make this clear as it seeks an end to the war,” the Senators wrote. “We stand in strong support of diplomatic efforts to return all hostages, end the fighting in Gaza, and bring humanitarian relief for the safety and prosperity of the Israeli and the Palestinian people.”

The letter from Sen. Cantwell was led by Sens. Schiff (D-CA), Schatz (D-HI), Schumer (D-NY), and Rosen (D-NV), and joined by Sens. Angela Alsobrooks (D-MD), Tammy Baldwin (D-WI), Michael Bennet (D-CO), Lisa Blunt-Rochester (D-DE), Richard Blumenthal (D-CT), Cory Booker (D-NJ), Catherine Cortez-Masto (D-NV), Chris Coons (D-DE), Tammy Duckworth (D-IL), Dick Durbin (D-IL), Ruben Gallego (D-AZ), Kirsten Gillibrand (D-NY), Maggie Hassan (D-NH), Martin Heinrich (D-NM), John Hickenlooper (D-CO) Mazie Hirono (D-HI), Tim Kaine (D-VA), Mark Kelly (D-AZ), Andy Kim (D-NJ), Angus King (I-ME), Amy Klobuchar (D-MN), Ben Ray Luján (D-NM), Ed Markey (D-MA), Jeff Merkley (D-OR), Chris Murphy (D-CT), Patty Murray (D-WA), Jon Ossoff (D-GA), Alex Padilla (D-CA), Gary Peters (D-MI), Jack Reed (D-RI), Jeanne Shaheen (D-NH), Elissa Slotkin (D-MI), Tina Smith (D-MN), Mark Warner (D-VA), Raphael Warnock (D-GA), Chris Van Hollen (D-MD), Sheldon Whitehouse (D-RI), Peter Welch (D-VT), and Ron Wyden (D-OR).

The full letter is available HERE and below:

MIL OSI USA News –

August 5, 2025
MIL-OSI USA: American Leadership in the Digital Finance Revolution

Source: Securities and Exchange Commission

Good afternoon. Thank you, Norm, for your kind introduction and the invitation to be here. It gives me great pleasure to be with you all, particularly at what I believe is a defining moment for American leadership in the crypto asset markets. Before I share a few reflections, I want to thank the America First Policy Institute for convening such a timely conversation. And, I must note, in order to keep my compliance folks happy, that the views I express here today are my own and do not necessarily reflect those of the SEC as an institution or of the other Commissioners.

***

Today, I would like to discuss what Commissioner Hester Peirce and I are calling “Project Crypto,” which will be the SEC’s north star in aiding President Trump in his historic efforts to make America the “crypto capital of the world.”[1] But before I discuss our plan for crypto market primacy, let me take a few moments to revisit some inflection points in the history of our financial markets that bear similarities to the one we are at now, so that the future we shape is worthy of the legacy that we inherit.

Evolution of Capital Markets: From Buttonwood to Blockchain

The winds of innovation have always swept through our capital markets, often at gale force. In 1792, they rustled the leaves of a buttonwood tree, beneath which two dozen stockbrokers assembled to establish the forerunner to the New York Stock Exchange. That modest agreement—fewer than a hundred words handwritten on a slip of parchment—set in motion an elegant design that would govern the flow of capital for generations.[2]

In the centuries since, our markets have never stood still. They have expanded, evolved, and reinvented themselves in step with the ideas and technologies of their time. Markets are dynamic because of the people who participate in them. Markets channel human ingenuity toward society’s most intractable problems by rewarding those who develop the most innovative solutions that others value enough to buy. They are the mechanism by which Adam Smith’s invisible hand elevates those who act in the common good—even when pursuing their own.

The SEC’s role is to safeguard markets that allow the spark of human creativity and skill to benefit society. Over the arc of its history, the agency has both enabled innovation and, regrettably at times, stifled it. Fortunately, progress has a way of prevailing. And when our regulatory posture is calibrated to meet innovation with thoughtfulness rather than fear, America’s leadership position has only grown stronger.

***

In the 1960s—before my time, I am happy to say—Wall Street was riding a bull market. But behind the scenes, our market machinery was straining to keep up. Most clearing and settlement transactions involved a costly and cumbersome process. Rising stacks of paper stock certificates had to be physically delivered by clerks wheeling carts up and down Wall Street and in other financial districts all across America.[3] It was a scene from another century struggling to meet the demands of the modern securities markets.

Indeed, the paper-based clearance and settlement systems, built for a gentler era, began to buckle under the weight of soaring volumes. Delays at one firm held up the work of another. Securities were lost or stolen. Fails ballooned. And many thinly capitalized broker-dealers were caught by the whiplash of scuttled transactions. In desperation, trading hours were reduced and exchanges eventually closed on Wednesdays to allow firms to process the mountains of certificates.

The breakdown over an antiquated system was described by the SEC chairman at the time as “the most prolonged and severe crisis in the securities industry in 40 years… Firms failed. Investor confidence plummeted.” And very much to its credit, the SEC was proactive in remedying the so-called “Paperwork Crisis.” The agency helped market participants to develop the Depository Trust and Clearing Corporation, which would transform how securities were held and traded.[4] Instead of shuffling paper certificates from customer to broker, broker to broker, and broker to customer, title to shares could now be transferred through computerized ledger entries.[5] The certificates themselves were immobilized, stored securely in vaults, as ownership moved electronically, laying the foundation for the modern clearing and settlement system that has continued to this day.

The ticker tape machine—like the one here—was also a breakthrough of its time, revolutionizing how Americans accessed market information, line by line, trade by trade.[6] But breakthroughs don’t belong in the past.

By the late 1990s, electronic trading systems surged in popularity, unsettling old assumptions about how markets should function. Chairman Arthur Levitt likewise believed it behooved the SEC to provide regulatory flexibility for the electronic markets to innovate.[7] So, Regulation Alternative Trading Systems, or “Reg ATS,” adopted in 1999, allowed for ATSs to be regulated like broker-dealers, rather than like exchanges.[8]

So, this brings me to today. To a moment that demands American ambition. To a project that can unleash it.

Our regulatory framework need not be anchored to an analog past—unkind to new frontiers. After all, the future is arriving at full speed—and the world is not waiting. America must do more than just keep pace with the digital asset revolution. We must drive it.

Forging the Future: America’s Leadership in the Golden Age of Finance

So today, I would like the world to go on notice that under my leadership, the SEC will not stand idly by and watch innovations develop overseas while our capital markets remain stagnant. To achieve President Trump’s vision of making America the crypto capital of the world, the SEC must holistically consider the potential benefits and risks of moving our markets from an off-chain environment to an on-chain one.

We are at the threshold of a new era in the history of our markets. As I mentioned earlier, today I am announcing the launch of “Project Crypto”—a Commission-wide initiative to modernize the securities rules and regulations to enable America’s financial markets to move on-chain.

Just a few weeks ago, President Trump signed the GENIUS Act into law, ensuring that America will continue to lead in global payments with a gold standard stablecoin regulatory framework. Upon signing the GENIUS Act into law, I was pleased that President Trump endorsed Congressional efforts to pass crypto market structure legislation by the end of the year. I commend the House of Representatives for garnering such strong bipartisan support, and I look forward to working with the Senate as they build off the House’s work and craft market structure legislation that future proofs our markets against regulatory mischief, cementing the United States as the crypto capital of the world.

Yesterday, the President’s Working Group on Digital Asset Markets released the PWG Report with clear recommendations for the SEC and other federal agencies to build a framework to maintain U.S. dominance in crypto asset markets. This report is the blueprint to make America first in blockchain and crypto technology. The President said last week that he wants “the entire world running on the backbone of American technology.”[9] I stand ready to help get that job done.

That is why I am launching Project Crypto and directing the SEC’s policy divisions to work with the Crypto Task Force, led by Commissioner Peirce, to swiftly develop proposals to implement the PWG’s recommendations. Project Crypto will help ensure that the United States remains the best place in the world to start a business, develop cutting-edge technologies, and participate in capital markets. We will reshore the crypto businesses that fled our country, particularly those that were crippled by the previous administration’s regulation-by-enforcement crusade and “Operation Chokepoint 2.0”[10] Whether an incumbent or a new entrant, the SEC welcomes all market participants who are hungry to innovate.

In accord with the PWG Report’s recommendations, I have directed the Commission staff to draft clear and simple rules of the road for crypto asset distributions, custody, and trading for public notice and comment. While the Commission staff works to finalize these regulations, the Commission and its staff will in the coming months consider using interpretative, exemptive, and other authorities to make sure that archaic rules and regulations do not smother innovation and entrepreneurship in America. Many of the Commission’s legacy rules and regulations do not make sense in the twenty-first century—let alone for on-chain markets. The Commission must revamp its rulebook so that regulatory moats do not hinder progress and competition—from both new entrants and incumbents—to the detriment of Main Street.[11]

Onshoring Crypto: A New Day at the SEC

Now, Project Crypto will involve a broad range of initiatives across the Commission.

First, we will work to bring crypto asset distributions back to America. The days of convoluted offshore corporate structures, decentralization theater, and confusion over security status, are over. President Trump has said that America is in its Golden Age—and under our new agenda, our crypto asset economy will be, too.

In line with the PWG Report, a key priority of mine will be to establish—as swiftly as we can—a regulatory framework for distributions of crypto assets in America. Capital formation is at the heart of the SEC’s mission, yet for too long the SEC ignored market demands for choice and disincentivized crypto-based capital raising.[12] As a result, crypto markets pivoted away from offering crypto assets and deprived investors of the opportunity to use this technology to contribute to productive economic enterprises. The SEC’s head-in-the-sand posture—as well as its shoot first, ask questions later approach—are days of the past.

Despite what the SEC has said in the past, most crypto assets are not securities. But confusion over the application of the “Howey test” has led some innovators to prophylactically treat all crypto assets as such. American entrepreneurs are harnessing blockchain technology to modernize a broad range of legacy systems and instruments. One such entrepreneur is Senator Bernie Moreno of Ohio, a successful businessman and freshman senator, who before his election to the Senate founded a company that put car titles on the blockchain.[13] He saw a need for efficiency in transferring titles and devised a practical solution with the new technology. These entrepreneurs need—and deserve—bright-line rules for determining whether the securities laws apply to their businesses.

I have directed the Commission staff to work to develop clear guidelines that market participants can use to determine whether a crypto asset is a security or subject to an investment contract. Our goal is to help market participants to slot crypto assets into categories, such as digital collectibles, digital commodities, or stablecoins, and assess the economic realities of a transaction. This approach can allow market participants to determine, based upon clear guidelines, whether any outstanding promises or commitments of the issuer cause the crypto asset to be subject to an investment contract.

In addition, it should not be a scarlet letter to be deemed a security. We need a regulatory framework for crypto asset securities that allows these products to flourish within American markets. Many issuers will prefer the flexibility in product design that the securities laws afford, and investors will benefit from the opportunity to earn distributions, voting rights, and other features typical of securities. Projects should not be forced to establish decentralized autonomous organizations and offshore foundations or decentralize too early if this is not their desired plan of action. I am excited to see new use cases for crypto asset securities in commerce, such as the ability to participate in blockchain network consensus with tokenized equities.

Thus, for those crypto asset transactions that are subject to the securities laws, I have asked staff to propose purpose-fit disclosures, exemptions, and safe harbors, including for so-called “initial coin offerings,” “airdrops,” and network rewards. Regarding these sorts of transactions, our goal should be that issuers no longer exclude Americans from their distributions to avoid legal complexity and lawsuits,[14] but instead choose to include Americans to enjoy legal certainty and an accommodating regulatory environment. It is my view that a Cambrian explosion in innovation could occur if we stay true to this course.

Additionally, many firms seek to “tokenize” their common stock, bonds, partnership interests, and other securities, or tokenize the securities of third parties.[15] Much of this innovation is offshore today due to regulatory challenges in the United States. I also hear from our regulatory policy staff that firms—from household names on Wall Street to unicorn tech companies in Silicon Valley—are lined up at our doors with requests to tokenize. I have asked the Commission staff to work with firms seeking to distribute tokenized securities within the United States and to provide relief where appropriate to assure that Americans are not left behind.

Enhancing Freedom: Choice Among Custodians and Trading Venues

Second, to achieve the President’s goals, it is incumbent on the SEC to ensure that market participants have maximum choice when deciding where to custody and trade crypto assets. As I have said before, the right to have self-custody of one’s private property is a core American value.[16] I believe deeply in the right to use a self-custodial digital wallet to maintain personal crypto assets and participate in on-chain activities like staking. However, some investors will continue to rely on SEC registrants, such as broker-dealers and investment advisers, to hold assets on their behalf, and these firms are subject to additional regulatory requirements when they do so. It will be a priority of my chairmanship to carry out the PWG Report’s recommendation to modernize the SEC’s custody requirements for registered intermediaries.

The prior Administration’s “special-purpose broker-dealer” framework, SAB 121, and “Operation Chokepoint 2.0,” resulted in a dearth of custodial service provider options in the market today.[17] The existing custody rules were created without crypto assets in mind. I have directed the staff to consider how best to adapt the existing regime to facilitate the custody of crypto assets, including possible exemptive or other relief, in addition to changes to the rules themselves.

As the PWG Report recommends, market participants “should be permitted to engage in multiple business lines under the most efficient licensing structure possible.” We should not force market participants to be stretched to fit a Procrustean bed of regulation for regulation’s sake. I am in favor of affording them the freedom to choose the most efficient regulatory framework for their business, provided that the framework adequately protects investors.

Facilitating Super-Apps: Horizontal Integration of Product Offerings

Third, a key priority of my chairmanship is to allow market participants to innovate with “super-apps.”[18] I am often asked, “What do you mean by a super-app?” Plain and simple: securities intermediaries should be able to offer a broad range of products and services under one roof with a single license. A broker-dealer with an alternative trading system should be able to offer trading in non-security crypto assets alongside crypto asset securities, traditional securities, and other services, like crypto asset staking and lending, without requiring fifty-plus state licenses or multiple federal licenses. Nothing in the federal securities laws prohibits SEC-registered trading venues from listing non-securities on their platforms today, and I have directed the Commission staff to develop further guidance and proposals ultimately to make this “super-app” vision a reality. Maybe they’ll call it “Reg Super-App.”

Consistent with the PWG Report, the SEC in concert with other regulators should strive to have the most efficient licensing structure for SEC registrants. They should not be unnecessarily subject to multiple regulators or regulatory regimes. This model has worked well for banks, which are broadly exempted from many duplicative regulatory frameworks, such as broker-dealer and clearing agency registration. Regulators should provide the minimum effective dose of regulation necessary to protect investors while allowing entrepreneurs and businesses to flourish. We should not overburden them with paternalistic regulation that could drive them offshore or make American companies less competitive internationally. Our regulators should unleash the forces of venue and product competition for the benefit of all Americans. We should not artificially constrain business models and impose duplicative regulatory costs on American businesses that favor the largest firms that are better able to bear the regulatory burdens.

Per the PWG’s recommendations, I have directed the Commission staff to develop a framework that will allow non-security crypto assets and crypto asset securities to be traded side-by-side on SEC-regulated platforms. Additionally, I have asked the staff to evaluate the use of Commission authority to permit non-security crypto assets that are subject to an investment contract to trade on trading venues that are not registered with the Commission. I am keen to pursue such a solution, as it will not only enable state-licensed crypto asset platforms that are not registered with the SEC to list certain crypto assets, but it also clears the way for CFTC-regulated platforms to offer these products with margin capabilities—even without Congress providing the CFTC with any additional authority, unlocking even greater liquidity for these assets.

Unleashing U.S. Markets: Big Beautiful On-Chain Software Systems

Fourth, I have directed the Commission staff to update antiquated agency rules and regulations to unleash the potential of on-chain software systems in our securities markets. On-chain software comes in many shapes and sizes—some of these systems are truly decentralized and not operated by any intermediary. Other on-chain software systems have an operator. Both types of on-chain software should have a place within our financial markets. It is essential that any crypto asset regulatory market structure create a path for software developers to unleash on-chain software systems that do not require operation by any central intermediary. Decentralized finance software systems—like automated market makers—facilitate automated, non-intermediated financial market activity. Federal securities laws have always assumed the involvement of intermediaries that require regulation, but this does not mean that we should interpose intermediaries for the sake of forcing intermediation where the markets can function without them.

We will create space in our markets for both models, by protecting pure publishers of software code, drawing reasonable lines to distinguish intermediated and disintermediated activity, and creating rational and workable rules of the road for intermediaries that seek to operate on-chain software systems. Decentralized finance and other forms of on-chain software systems will be part of our securities markets and not drowned out by duplicative or unnecessary regulation.

To make this vision a reality, we will need to consider some changes to our rules. For example, accommodating trading of tokenized securities on-chain may require us to explore amendments to Reg NMS, in addition to what we otherwise would do in the normal course to correct market distortions that it engenders. Many of you will remember that I co-authored with Commissioner Cynthia Glassman a lengthy dissent to the adoption of Reg NMS twenty years ago last month.[19] This dissent is even more compelling now that we have had two decades of prescriptive requirements that distort market activity and impede the evolution of our securities markets. Congress clearly intended that “competitive forces, rather than unnecessary regulation, guide the development of the national market system.”[20] I will look for ways to bring us back in line with that intent and thereby promote innovation and competition in our markets.

Fostering Innovation: Commercial Viability is Our True North

Finally, innovation and entrepreneurialism are the engines of the American economy. President Trump has described America as a “nation of builders.”[21] Under my leadership, the Commission will encourage our nation’s builders rather than constrain them with red tape and one-size-fits-all rules. While the Commission is actively considering industry requests that could jumpstart innovative activity, we are also contemplating an innovation exemption that would allow registrants and non-registrants to quickly go to market with new business models and services that do not neatly fit within our existing rules and regulations. The Commission will continue to ensure that market participants adhere to certain conditions and requirements designed to achieve the policy aims of the federal securities laws.

Under my vision for an innovation exemption, innovators and visionaries will be able to immediately enter the market with new technologies and business models but will not be required to comply with incompatible or burdensome prescriptive regulatory requirements that hinder productive economic activity. Instead, they will be able to comply with certain principles-based conditions designed to achieve the core policy aims of the federal securities laws. These conditions may include, for example, a commitment to make periodic reports to the Commission, incorporate whitelisting or “verified pool” functionality, and restrict tokenized securities that do not adhere to a token standard that incorporates compliance features, such as ERC3643.[22] I encourage market participants and SEC staff alike to have an eye towards commercial viability when contemplating what various models could look like.

***

As we advance these priorities, I look forward to working with my counterparts across the Administration to make the United States the crypto capital of the world. This represents more than a regulatory shift—it is a generational opportunity.

From the leaves of a buttonwood tree to ledgers on a blockchain, the winds of innovation still blow—and it is our task that they carry American leadership forward. After all, ladies and gentlemen, we have never been content to follow. We will not watch from the sidelines. We will lead. We will build. And, we will ensure that the next chapter of financial innovation is written right here in America.

Thank you very much for your time today. I encourage you to be attentive to our coming announcements and proposals and, as always, I welcome your thoughtful comments and suggestions.

[2] See The History of NYSE, New York Stock Exchange, https://www.nyse.com/history-of-nyse.

[3] See Wall Street: The Paperwork Predicament, Time Magazine (June 21, 1968), https://time.com/archive/6636314/wall-street-the-paperwork-predicament/.

[4] See A Short History of the Depository Trust Company, Securities and Exchange Commission Historical Society (1999), https://www.sechistorical.org/collection/papers/1990/1999_0101_DTCHistory.pdf.

[6] Danny Lewis, The Physical Stock Ticker Is a Relic, But Its Influence Reverberates Loudly Today, Smithsonian Magazine (Nov. 15, 2016), https://www.smithsonianmag.com/smart-news/the-physical-stock-ticker-is-a-relic-but-its-influence-reverberates-loudly-today-180961092/.

[7] Transformation & Regulation: Equities Market Structure, 1934 to 2018: Reg ATS, Securities and Exchange Commission Historical Society, https://www.sechistorical.org/museum/galleries/msr/msr04c_reg_ats.php.

[10] See, e.g., David H. Thompson et al., Operation Choke Point 2.0: The Federal Bank Regulators Come For Crypto, Cooper & Kirk (Mar. 24, 2023), https://www.cooperkirk.com/wp-content/uploads/2023/03/Operation-Choke-Point-2.0.pdf; Testimony of Paul Grewal, Chief Legal Officer, Coinbase, Before the U.S. House Committee on Financial Services Subcommittee on Oversight and Investigations (Feb. 6, 2025), https://www.congress.gov/119/meeting/house/117858/witnesses/HHRG-119-BA09-Wstate-GrewalP-20250206.pdf.

[11] See The White House, Unleashing Prosperity Through Deregulation (Jan. 31, 2025), https://www.whitehouse.gov/presidential-actions/2025/01/unleashing-prosperity-through-deregulation/.

[12] See e.g., Commissioner Hester Peirce, Hobs and Hobbes: Wharton FinTech Lecture, Securities and Exchange Commission (Nov. 1, 2024), https://www.sec.gov/newsroom/speeches-statements/peirce-remarks-wharton-fintech-110124.

[13] See e.g., Akash Sriram, California DMV puts 42 million car titles on blockchain to fight fraud, Reuters (July 30, 2024), https://www.reuters.com/technology/california-dmv-puts-42-million-car-titles-blockchain-fight-fraud-2024-07-30/.

[14] See Danny Nelson, Crypto Airdrops Ban U.S. Users, but Americans Are Claiming Tokens Anyway, CoinDesk (Aug. 21, 2024), https://www.coindesk.com/policy/2024/08/21/crypto-airdrops-ban-us-users-but-americans-are-claiming-tokens-anyway.

[15] See e.g., CNBC Television, BlackRock CEO Larry Fink: ‘I want the SEC to rapidly approve tokenization of bonds and stocks’, YouTube (Jan. 23, 2025), https://www.youtube.com/watch?v=Mi3q_upPjBM.

[16] Chairman Paul Atkins, Remarks at Crypto Task Force Roundtable on Decentralized Finance, Securities and Exchange Commission (June 9, 2025), https://www.sec.gov/newsroom/speeches-statements/atkins-remarks-defi-roundtable-060925.

[17] See Commissioner Hester Peirce, Lava and Lamps: Opening Remarks for Crypto Custody Roundtable, Securities and Exchange Commission (Apr. 25, 2025), https://www.sec.gov/newsroom/speeches-statements/peirce-lava-lamps-opening-remarks-crypto-custody-roundtable-042525.

[18] Chairman Paul Atkins, Prepared Remarks Before SEC Speaks, Securities and Exchange Commission (May 19, 2025), https://www.sec.gov/newsroom/speeches-statements/atkins-prepared-remarks-sec-speaks-051925.

[19] Commissioners Cynthia Glassman and Paul Atkins, Dissent of Commissioners Cynthia A. Glassman and Paul S. Atkins to the Adoption of Regulation NMS, Securities and Exchange Commission (June 9, 2005), https://www.sec.gov/files/rules/final/34-51808-dissent.pdf.

[21] Hendrix, supra note 11.

[22] For additional information on the ERC3643 protocol, see Overview of the Protocol: ERC-3643 Permissioned Tokens, ERC3643 Association, https://docs.erc3643.org/erc-3643.

MIL OSI USA News –

August 5, 2025
MIL-OSI Europe: ASIA/CAMBODIA – Countering misinformation and spreading messages of love, tolerance, and courage: Cambodian and Thai youth united in harmony

Source: Agenzia Fides – MIL OSI

Thursday, 31 July 2025

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Phnom Penh (Agenzia Fides) – “We ask every man and woman, every child and elderly person with a good heart, to overcome conflict and choose the path of humility, wisdom, and dialogue.” This is what was said in the joint statement by young people from the Salesian centers in Cambodia and Thailand.Although just days after the ceasefire between the two countries, which began on the evening of Monday, July 28, mediated by the Malaysian government, Thailand has already accused Cambodia of “a flagrant violation.”Faced with the rising number of deaths and displaced people caused by the clashes that have been ongoing for days (see Fides, 24/7/2025), these young people have launched the initiative “Meditation for Peace with Don Bosco, our Common Father.” Drawing on the teachings of Buddhism and Christianity, they highlight the importance of values such as compassion, nonviolence, and reconciliation. According to a statement from the Salesians, the initiative focuses on their shared spiritual heritage: Buddhist mindfulness and nonviolence, along with the Christian and Salesian vocation to reconciliation and service.The youth leaders also warn against “a dirty digital war,” urging their peers to counter misinformation and instead spread messages of love, tolerance, and courage. “Peace does not require silence, but courage. May our shared history and faith be a bridge, not a barrier,” they emphasize in their statement. And while diplomats work to find a solution, the voices of young Cambodians and Thais remind the world that peace is not born in conference rooms, but in the hearts of those who have the courage to imagine it.The conflict, centered on the disputed Ta Moan Thom temple and colonial-era borders, escalated on July 24, 2025, marking one of the most serious clashes in the last ten years. The violence has claimed 30 lives and forced more than 300,000 people to flee their homes. (AP) (Agenzia Fides, 31/7/2025)
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MIL OSI Europe News –

August 5, 2025
MIL-OSI Europe: AFRICA/DR CONGO – Caritas Bunia: “In July alone, more than 100 people died in Ituri despite the state of siege in place for four years”

Source: Agenzia Fides – MIL OSI

Kinshasa (Agenzia Fides) – “In our province alone, in July, more than 100 people, including women and children, were brutally murdered in attacks of unspeakable brutality.” This was revealed by the diocesan Caritas of Bunia (Ituri province, eastern Democratic Republic of Congo), whose territory includes the church of Blessed Anuarite de Komanda, attacked by a commando unit of the Allied Democratic Forces (ADF) on the night of Saturday, July 26 and Sunday, July 27 (see Fides, 28/7/2025).The 100 deaths recorded in July of this year alone represent, according to Caritas Bunia, “the flagrant failure of the state of siege” decreed on May 3, 2021, by President Félix Tshisekedi in Ituri and North Kivu, with the aim of “neutralizing the armed groups operating in the two provinces, restoring state authority through a temporary military government, protecting the civilian population, and stabilizing the region.””Four years and nearly 100 extensions later, the results are disappointing because new armed groups have emerged and are more active than ever,” Caritas states. Impunity reigns, and massacres continue without investigation or prosecution of the criminals. Even worse, there is compelling evidence revealing the complicity, passive or active, of the Congolese army, as in the recent Lopa massacre, where CODECO militiamen desecrated the Church of Saint John of Capistrano (see Fides, 23/7/2025). The desecration of the church “forced His Excellency Monsignor Dieudonné Uringi, Bishop of Bunia, to close the parish, whose reopening remains undefinite.”Meanwhile, more details have emerged about the attack on the village of Komanda. The attackers entered the village around 2:00 a.m. from their stronghold on Mount Hoyo. They attacked the parish church of Blessed Anuarite, killing about twenty people with machetes who were attending a prayer vigil. Other bodies were found in burned homes and businesses near the church, including that of a charred man found in a truck set on fire by the attackers. The total death toll is 43, with dozens injured.According to Caritas, the attack on the village of Komanda has sown widespread panic, causing a mass exodus of its population to Bunia, Beni, and Kisangani. It has also led to the suspension of economic and religious activities. All of this has exacerbated the existing humanitarian crisis due to the influx of newly displaced people. Caritas Bunia denounces “the unacceptable passivity of the security forces and MONUSCO (UN Mission in the Democratic Republic of the Congo), which, despite being stationed less than 3 kilometers from the crime scene, failed to intervene to protect civilians.”In a statement sent to Fides, Caritas Bunia highlights the deteriorating security situation in Ituri: “With the emergence of a new rebel movement (Convention for Popular Revolution), recently founded by Thomas Lubanga and his accomplices in Uganda, and the unnatural alliances between the regular army (FARDC) and the criminal militias it was supposed to fight, Ituri is sinking into unprecedented chaos. The population, left to itself, no longer knows who to trust.”To prevent further massacres and improve security in the area, Caritas calls for the immediate lifting of the state of siege, describing it as “an ineffective measure rejected by the population”; the replacement of all FARDC and police personnel deployed in Komanda during the July 27 massacre, as well as in Lopa during the massacres and destruction of July 21, 2025; and the urgent review of civil protection strategies to prevent further tragedies. (L.M.) (Agenzia Fides, 31/7/2025)
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MIL OSI Europe News –

August 5, 2025
MIL-OSI Europe: EUROPE/ITALY – Bishop Berardi to the young pilgrims from the Vicariate of Northern Arabia who have arrived in Rome for the Jubilee: “Open your hearts to the Holy Spirit.”

Source: Agenzia Fides – MIL OSI

Thursday, 31 July 2025

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Rome (Agenzia Fides) – “We live because we have hope. Hope is a way of receiving what we believe in. It is a blessing that makes us know the meaning of our life, which is Jesus.” This morning, July 31, at the Convent of Saint Chrysogonus in Rome, Bishop Aldo Berardi O.SS.T., Apostolic Vicar of Northern Arabia (AVONA), celebrated the welcoming Mass for young pilgrims arriving from the Vicariate for the Jubilee of Youth. Of the group initially organized to come to Rome, some did not receive visas upon departure, which left a deep sense of bitterness among them and throughout the Vicariate community. But with words like “hope, discernment, charity, and faith,” Berardi encouraged the young people to continue despite the difficulties, convinced that Jesus is always with them.“We are here because we want to be confirmed. We want to be with others to feel like family. And the great Catholic family comes to Rome to receive Christ on a pilgrimage of hope. It is important that you are here, even if you are tired, the journey has been difficult, and you have had to wait in long lines. It is beautiful that you come to confirm your faith and receive the strength of the Holy Spirit. You are here to encounter Jesus, who is everywhere, along with these half a million pilgrims. Jesus never physically came to Rome,” the bishop emphasized, “but he is with us. He sent his Apostles throughout the world, each to a different place, but the Church of Rome is the one that presides in charity, the one that has confirmed the other Churches in the faith through spirituality.”“The discomfort of this large crowd is sometimes difficult, but spiritually it is powerful. So, do not be discouraged. When you return home, you will feel better, you will be stronger and witnesses of Jesus. We know that we cannot speak much outside our church, but we can live a lot. This means that our lives are a testimony of who we are, of what we believe, and of the love we have received in the Holy Spirit. God is everywhere. He is with us in our Vicariate, in our different countries, in our different communities. But the Lord also blesses us when we move physically and spiritually. So, when we move physically, even if it is difficult for us at times, we move in our hearts and find a way to touch the heart of God. God is touching the fruit of the Spirit that is in his hands. Open your hearts, your minds, and be assured that the Lord will give you strength and answer your questions. Perhaps not immediately, but the Lord is already speaking to you. So open your hearts to his presence, and the Holy Spirit will be with you.”Continuing his reflection, the Apostolic Vicar referred to Saint Ignatius of Loyola, whose liturgical memorial is celebrated on July 31. “The focus of the Jesuit Congregation founded by Saint Ignatius of Loyola is discernment. Discernment takes time, sometimes years. And sometimes we say, ‘When I was in that place, this happened. I didn’t see the sign of God, now I understand.’ That’s why discernment is important, the presence of the Lord, and how to discern our activities, our commitment, what we are doing.”“Let us ask the Lord that this pilgrimage may touch our hearts and bless us,” concluded the Bishop, who presided over the Eucharistic concelebration with five priests from the Apostolic Vicariate of Northern Arabia.

MIL OSI Europe News –

August 5, 2025
MIL-OSI Europe: EUROPE/ENGLAND – Saint John Henry Newman, from Propaganda Fide seminarian to Doctor of the Church

Source: Agenzia Fides – MIL OSI

Thursday, 31 July 2025

Rome (Agenzia Fides) – Saint John Henry Newman will be proclaimed a Doctor of the Church. This was established by Pope Leo XIV, who confirmed the decision of the Plenary Session of Cardinals and Bishops, Members of the Dicastery for the Causes of Saints. The English Cardinal, founder of the Oratory of St. Philip Neri in England, will be the 38th saint to hold the title of Doctor.Already in 2010, during his apostolic journey to England, Benedict XVI, speaking to journalists during the papal flight, defined Newman as “a figure of a Doctor of the Church for us and for all,” as well as “a bridge between Anglicans and Catholics” (see Fides, 17/9/2010).Born in London on February 21, 1801, to an Anglican family, Newman studied at Great Ealing School, where he fervently embraced Calvinist doctrines. In June 1824, he was ordained a deacon in the Anglican Church and, the following year, a priest. In 1832, he accompanied his friend, Father Froude, on a trip to southern Europe.At the English College in Rome, he met Father Nicholas Wiseman, the future Catholic Archbishop of Westminster. Between 1833 and 1841, Newman and other exponents of the so-called “Oxford Movement” wrote the “Tracts for the Times,” a collection of 90 essays written to support and attest to the Catholic identity of the Anglican Church. The texts were not well received, and the protests they provoked led the Bishop of Oxford to suspend publication of the Tracts. Condemned by the Hebdomadal Board of Oxford University and disavowed by 42 bishops, in April 1842 he retired with some friends to Littlemore to write the famous “Essay development of christian Doctrine.” After these experiences, his decision to join the Catholic Church fully matured.In 1846, he returned to Rome with some Anglicans who had converted to Catholicism. After careful consideration, he decided to join the Congregation of the Oratory of St. Philip Neri. He attended the Roman church of Chiesa Nuova and frequented the priests of that community. In 1845, he began his studies to become a priest at the College of Propaganda Fide, then located in the Palazzo Ferratini, overlooking Piazza di Spagna.Cardinal Ivan Dias (1936-2017), Prefect of the then Congregation for the Evangelization of Peoples, when inaugurating the Missionary Museum of Propaganda Fide in 2010, described the stay of the future Doctor of the Church in the palace designed by Bernini and Borromini as follows: “Newman describes in his letters the great care shown by Cardinal Fransoni, Prefect of the Congregation of Propaganda Fide, by Monsignor Brunelli, his Secretary General, and by Father Bresciani, Rector of the Urban College, to make them feel at home, adapting everything to ‘English customs’. They were quite moved by the fact that their windows in Propaganda overlooked the church of Sant’Andrea delle Fratte, where Our Lady of the Miraculous Medal had appeared three years earlier to Alphonse Ratisbonne, on January 20, 1842: ‘It is so wonderful to be here in Propaganda is like a dream, and yet so calm, so secure, so happy, as if I had always belonged there, as if there had been no violent rupture or vicissitude in my life, indeed, calmer and happier than before.’The eminent theologian, Cardinal Dias further explained, “he found himself among young priests and seminarians, most of whom came from mission countries. Among the 120 or 150 resident students, 32 different languages were spoken. Newman remembers Indians, Africans, Babylonians, Scots, and Americans, and also Chinese (…) Egyptians, Albanians, Germans, and Irish.” He and Ambrose St. John were the only English students. John Henry Newman was ordained a Catholic priest in the Magi Chapel (in the Palace of Propaganda Fide) on May 30, 1847, and celebrated his first Mass in the upper chapel that now bears his name.”The chapel mentioned by Cardinal Dias, which today also houses a relic of the saint, future Doctor of the Church, is the work of Borromini. Conceived as an oratory for the first floor of the palace, Borromini created it with a vault decorated with angels’ heads, represented as six-winged seraphim. Today, on the right wall, you can admire a painting depicting Newman behind a reliquary containing some hairs of the English saint between two candlesticks. (F.B.) (Agenzia Fides, 31/7/2025)

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MIL OSI Europe News –

August 5, 2025
MIL-OSI Submissions: A World of Water exhibition asks: ‘Can the seas survive us?’

Source: The Conversation – UK – By John Kenneth Paranada, Curator of Art and Climate Change, University of East Anglia

Water is at the heart of the disruption wrought by climate change. The seas, once seen as vast and stable, are now unpredictable and restless.

That tidy, looping diagram of the water cycle once pinned up in primary school classrooms – clouds, rivers, evaporation and rain – now reads more like a fragmented recollection than a dependable process. Human impact has cracked that once-stable loop wide open.

Sea levels inch upward year on year. Droughts grow more prolonged and severe. Rainfall becomes erratic and violent. What was once spoken of in future tense is now present and pressing.

In Norfolk, land and sea have long coexisted in an uneasy truce. Here, the threat of sea level rise is not a speculative concern, it is data-backed, visible and accelerating.

According to research from the Tyndall Centre for Climate Change Research, vast swathes of Norfolk risk being submerged by rising seas if global temperatures rise by even two degrees celsius. It is one of the most at-risk areas in the UK.

Against this backdrop comes the Sainsbury Centre’s exhibition, A World of Water (part of the Can the Seas Survive Us? season). In the show, water is explored as subject, medium and metaphor. It is both agent and witness, shaping civilisations, sustaining life, and now challenging our ability to coexist with it.

Curated through an interdisciplinary lens, the exhibition was shaped by deep collaboration with scientists, artists, ecologists, activists and coastal communities. Rooted in lived experience, from a two-day walk along the Wherry Man’s Way to a 36-hour sail aboard a 1921 fishing smack, the curatorial process traced fragile coastlines and the North Sea’s rapid transformation into an industrial nexus of energy infrastructures.

Looking for something good? Cut through the noise with a carefully curated selection of the latest releases, live events and exhibitions, straight to your inbox every fortnight, on Fridays. Sign up here.

The curatorial approach to the show embraces the multifaceted nature of water by weaving together maritime history, Indigenous knowledge and contemporary works rooted in the artists’ experiences.

Many of the participating artists hail from communities already wrestling with rising tides and the realities of climate disruption. Their contributions form three thematic currents: Mudplume, Water Water Everywhere and In a State of Flux.

These overlapping threads investigate how water connects, nourishes and imperils. Rather than positioning the sea as a line of division, the exhibition reframes it as a living, connective tissue linking culture, history and ecology.

A curatorial geomorphology of the sea

Guidance for the exhibition’s conceptual framework came, fittingly, from water itself. Its mutable nature – solid, liquid, vapour – shaped the rhythm of the curatorial process. Rather than impose a rigid thesis, the exhibition offers an ever-shifting constellation of perspectives.

The exhibition journey begins with sound. Visitors are welcomed by a low murmur, tides lapping, water dripping, echoing through the museum entrance. This leads to Spiral Fosset (2024), a sculptural work by the Dutch collective De Onkruidenier.

Mirroring the central staircase of the museum, the piece suggests the brackish confluence where fresh and saltwater mingle. From here, the viewer descends into the lower galleries, reimagined as an estuary.

Within the lower galleries, artworks unfold like coastal mudflats at low tide. Seventeenth-century Dutch seascapes hang alongside photographs, video works and sculptures made from plastic waste. Sands from the beaches of Cromer, Happisburgh and Cley are featured, anchoring the exhibition in local terrain.

East Anglia’s centuries-old ties with the Low Countries form a steady through line. Hendrick van Anthonissen’s View of Scheveningen Sands (1641) shares space with works by Norwich School masters such as John Sell Cotman, John Crome and Robert Ladbrooke.

This approach privileges resonance over chronology. The exhibition avoids a linear march through time in favour of prioritising association, connection and drift. For instance, Shore Compass by Olafur Eliasson (2019) sits in subtle dialogue with Jodocus Hondius’s 1589 Drake Map an early cartographic rendering of Sir Francis Drake’s circumnavigation of the world.

Created during the height of European maritime expansion and colonialism, the map illustrates the interplay between empire, navigation and power. Time, like tide, is allowed to meander.

The exhibition adopts what might be called a “curatorial geomorphology”: a way of curating that draws on the sculpting force of water. In the natural sciences, geomorphology examines how landscapes are formed and reshaped by flowing water, storms and tides, while hydrology traces water’s movement through the environment.

This curatorial approach translates those scientific ideas into a cultural and creative practice. Like a river, it flows through histories, stories and meanings. What unfolds is a tidal narrative, an estuary of thought where time loosens, the present deepens and new futures begin to surface.

Visitors to A World of Water can expect something different from a traditional gallery experience. It invites you to think with the seas, to tune into their rhythms, tensions and secret lives.

As you wander through the galleries, you enter a realm shaped by flux, expect to feel and reimagine a world where land, water and life move as one. And perhaps, by moving as water does, we may begin to sense an answer to the question: Can the Seas Survive Us? Not in certainty, but through our collective and individual actions toward a more regenerative and sustainable future.

A World of Water is at the Sainsbury Centre Norwich until August 3. It’s part of a six-month season of interlinked exhibitions and events that explore the question: “Can the seas survive us?”

Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

John Kenneth Paranada received funding from the John Ellerman Foundation; the Art Fund’s Jonathan Ruffer Curatorial Grant; the Association of Art Museum Curators’ EPIC Curatorial Fellowship Award; the Mondriaan Fund’s International Art Presentation Grant; the Kingdom of the Netherlands’ Cultural Diplomacy Grant; and Arts Council England’s National Lottery Fund for the project A World of Water: Can the Seas Survive Us? at the Sainsbury Centre.

– ref. A World of Water exhibition asks: ‘Can the seas survive us?’ – https://theconversation.com/a-world-of-water-exhibition-asks-can-the-seas-survive-us-262057

MIL OSI –

August 5, 2025
MIL-OSI USA: Reps. Gomez, Costa, Panetta, Harder, Adams Announce Eats Act To Expand Snap Benefit Eligibility To More College Students

Source: United States House of Representatives – Congressman Jimmy Gomez (CA-34)

WASHINGTON, DC – Today, Congressman Jimmy Gomez (CA-34), along with Reps. Josh Harder (CA-10), Jimmy Panetta (CA-20), Alma Adams (NC-12), Jim Costa (CA-21), and 130 other Members of Congress reintroduced the Enhance Access to SNAP (EATS) Act, which would expand Supplemental Nutrition Assistance Program (SNAP) eligibility to all college students attending 2- and 4-year universities who meet traditional SNAP income and eligibility requirements. Current SNAP eligibility rules only include college students working 20 hours per week or participating in a federal or state work study, or those who meet very specific exemptions. The EATS Act would permanently ensure that low-income college students have equitable access to SNAP benefits by amending the Food and Nutrition Act of 2008 to include “attending an institution of higher education” as another form of qualification in addition to work.

“Too many students are working toward a degree while quietly struggling with hunger,” said Rep. Gomez. “No student should have to choose between focusing on their finals or finding their next meal. It is essential that college students, especially first-generation students and students of color, don’t fall through the cracks. The EATS Act will expand access to SNAP benefits for students and ensure that hunger doesn’t stand in the way of a degree or a better life.”

According to The Hope Center for Student Basic Needs at Temple University, food insecurity is a serious problem on college campuses across the nation, especially for students of color, first generation students, low-income students, and students at community colleges. In 2023-2024, 41% of college students experienced food insecurity. Students of color were more likely to experience basic needs insecurity: 74% of Indigenous, 72% of Black, and 67% of Pacific Islander or Native Hawaiian students experienced food insecurity, housing insecurity, and/or homelessness.

Senator Kristen Gillibrand is introducing companion legislation in the Senate.

“No college student should have to scrounge for food or wonder where they’ll get their next meal,” said Senator Gillibrand. “Food insecurity is a crisis that plagues low-income college students in New York and beyond, and we must do more to combat it. The EATS Act would eliminate work-for-food barriers for low-income students and ensure that as many as 4 million college students nationwide can access the SNAP benefits they need to learn and thrive. This legislation is critical, and I’m committed to fighting for its passage.”

“There are many college students across the country that face food insecurity due to outdated and arbitrary restrictions that block access to SNAP benefits,” said Rep. Panetta. “The EATS Act would eliminate those barriers and expand eligibility so students, including those in California’s CalFresh program, can get the nutrition they need. By removing these unnecessary hurdles, we can ensure that rather than worrying about where their next meal will come from, our students can focus on their education and future success.”

“College students across the nation are going hungry, skipping meals, and can’t afford to make ends meet – it’s unacceptable. No student should have to choose between food and their textbooks,” said Rep. Costa. “Our legislation eliminates barriers and expands SNAP eligibility for college students, so they get the nutrition needed to be successful.”

“This is a commonsense bill – we know our students can’t learn if they’re hungry. One in three college students face food insecurity meaning millions of young people aren’t able to live up to their potential,” said Rep. Harder. “If we want to set future generations up for success, we have to make sure they are getting the nutrition they need. This bill does just that by extending access to SNAP to college students. It’s a no-brainer if we care about our future.”

“As a former college professor of 40 years, I’ve seen students struggle with hunger firsthand and know how it impacts their health and academic achievement. They should be focusing on their education, not where their next meal is coming from, but harsh SNAP restrictions make that impossible for millions of college students, especially after the passage of Republicans’ One Big, Ugly Bill,” said Rep. Adams. “I’m proud to support the EATS Act so we can remove these outdated barriers to SNAP, make college more accessible to low-income families, and ensure no student goes to bed hungry.”

“No student should have to choose between eating and learning. The EATS Act removes outdated and harmful barriers that have long prevented college students—including many student parents and students of color—from accessing SNAP. This bill is a step toward justice—toward a future where an empty stomach isn’t a prerequisite for learning, and where every student is healthy, housed, and fed,” said Shimica Gaskins, President & CEO, GRACE/End Child Poverty California.

“All students should have the resources they need to meet their basic needs. But with one in five experiencing food insecurity and many lacking access to SNAP benefits, this is not their reality. It’s clear the system needs reformed,” said Jessica Thompson, Senior Vice President at The Institute for College Access and Success (TICAS). “Removing the requirement to meet an additional exemption will improve students’ ability to access benefits and better support their academic success. That’s why TICAS is proud to endorse the EATS Act of 2025 – a critical step in addressing food insecurity for this overlooked population.”

“Far too many low-income college students are going hungry, all while juggling family, work, and a full course load in pursuit of economic mobility. Many are parents, caregivers, or older adults returning to school for a better future, but the current system, with its 20-hour per week work requirement, makes this nearly impossible. Balancing work, school, and other responsibilities leaves little time for these students to focus on their education, much less maintain their health or care for their loved ones. Hunger only compounds these challenges, preventing them from fully thriving,” said Crystal FitzSimons, President of the Food Research & Action Center (FRAC). “No student should have to choose between buying food and pursuing an education. Congress must pass the EATS Act to remove outdated barriers to SNAP eligibility and ensure every student has the food they need to learn and thrive.”

The full text of the bill can be found here.

MIL OSI USA News –

August 5, 2025
MIL-OSI Africa: Africa energy efficiency under the spotlight at G20 meeting

Source: Government of South Africa

Africa Energy Commission Executive Director, Rashid Ali Abdallah, has welcomed South Africa’s proposal – through the G20 Presidency legacy programme – to establish an energy efficiency facility.

He was delivering remarks on the sidelines of the third G20 Energy Transitions Working Group (ETWG) meeting in the North West this week.

Abdallah highlighted that for the African Union, energy efficiency is “at the core” of the development agenda through the African Energy Efficiency Strategy – which, amongst others, has set a target to increase energy productivity over the next 25 years.

“To achieve African Energy Productivity target and contribute to the global doubling [of] energy efficiency by 2030… the continent needs access to sustainable finance and a strong coordination of the institutional framework with good human capacity.

“It is for this reason that we welcome the proposal by the South African G20 Presidency to establish an energy efficiency legacy programme. This decision not only compliments our work as the African Union but reinforces the role of energy efficiency in addressing the challenge of energy security and equality,” he said.

According to the United Nations Sustainable Development Group, some 600 million Africans still do not have access to electricity.

Abdallah noted the South African government’s pursuance energy security and access.

“This agenda is particularly relevant to Africa, as the continent is lagging in achieving the Sustainable Development Goal with over 70% of the population living in energy poverty.

“Access to renewable and affordable energy is essential to powering economies and powering essential services such as healthcare, clean water and education and improving living standards,” the Executive Director said.

He added that as the African continent continues to improve sectors, including health, education, water and food security, “the importance of energy efficiency cannot be overlooked”.

“Energy efficiency in Africa spans across all sectors. For example, 40% of utility in Africa Union states report electricity losses of over 20% – a stark contrast to the 6 to 10% seen in developed countries.

“By improving this deficiency, we can save a significant amount of investment on the generation and transmission infrastructure on the continent. This compliments the implementation of the African Single Electricity Market and Continental Power System Master Plan initiative being spearheaded by the African Union,” Abdallah explained.

Savings will also be extended to cash strapped households.

“For household appliances and equipment, market transformation not only saves money but also accelerates access of modern cooking.

“Adopting efficient lighting, modern transformer and cooling appliances has the potential to save African infrastructure investment equivalent to 40GW and more than US $20 billion in savings by 2040,” Abdallah said. – SAnews.gov.za

MIL OSI Africa –

August 5, 2025
MIL-OSI USA: Sherrill Statement on the Widespread Famine in Gaza and the Deepening Humanitarian Crisis

Source: United States House of Representatives – Congresswoman Mikie Sherrill (NJ-11)

Washington, D.C. — Representative Mikie Sherrill (NJ-11) today issued the following statement urging President Trump and the Israeli government to take immediate action to ensure that aid reaches innocent civilians in Gaza:

“I am deeply concerned by the famine and perilous security situation in Gaza. In February 2024, I went to the Rafah Crossing in Egypt and saw the backlog of aid trucks being kept out of Gaza. I took my concerns about keeping aid from reaching civilians directly to Prime Minister Netanyahu and President Biden. Restricting life saving aid from reaching civilians was as dangerous then as it is today. Failure to take immediate action now will lead to the deaths of thousands of innocent civilians, including women and children, and the perpetuation of the war.

“I was encouraged to see the announcement earlier this week that increased humanitarian aid would be allowed to enter Gaza, but it is not enough. The previous system of distributing aid through the Gaza Humanitarian Foundation was ineffective and directly led to the deaths of civilians at aid sites within days of beginning the operation. It needlessly endangered civilian lives. I immediately called on President Trump to work with the Israeli government and humanitarian organizations operating in Gaza to develop a safer method of delivery aid, but no action was taken.

“It is unacceptable that Hamas walked away from the last round of ceasefire negotiations and rejected the proposal agreed to by Israel, the U.S., Egypt, and Qatar. I again urge both parties to return to the negotiating table immediately to reach a ceasefire and bring the hostages home. But that alone will not lead to the end of this conflict. For that to happen, the human suffering must end.

“It is past time that President Trump stands up for American values and works with the Israeli government to ensure that aid reaches the innocent civilians who desperately need it. Limiting the delivery of aid has only allowed Hamas and criminal gangs to exploit the situation. Ending the humanitarian crisis in Gaza is vital to maintaining America’s values, weakening Hamas’s support, and permanently ending the conflict.”

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MIL OSI USA News –

August 5, 2025
MIL-OSI USA: IAM District 4 Wins Voluntary Recognition for Maryland Veterans Home Nurses

Source: US GOIAM Union

In a significant development for healthcare workers at Charlotte Hall Veterans Home in Maryland, PruittHealth, the management company that runs the Home, has voluntarily recognized IAM District 4 as the official bargaining representative for approximately 80 Registered Nurses (RNs) and Licensed Practical Nurses (LPNs) employed at the facility.

The decision came on July 9, 2025, just days before a union election was scheduled to take place.

IAM District 4 Organizer Kevin Gallegher had been in the process of bringing the group to a vote before IAM Eastern Territory International Representative Andrew Hounshell and the company’s legal counsel cordially agreed that PruittHealth would forgo a union election process. The company would instead voluntarily recognize IAM Union representation of the nurses based on a majority showing of support for the union through signed authorization cards.

The bargaining unit includes all full-time and regular part-time RNs and LPNs at the veterans home, excluding managerial and certain supervisory roles.

IAM District 4 already represents multiple groups of workers at Charlotte Hall Veterans Home, including non-professional and service-related staff. Initial IAM representation at the facility started with maintenance staff, but the successful relationship between IAM Union and Charlotte Hall Veterans Home allowed for the IAM’s representation to grow to cover the entire facility’s non-managerial employees.

“I’m very excited to see my home shop become completely unionized,” said IAM District 4 Business Representative Bonna McCarthy, who previously won voluntary recognition of drivers and the laundry and housekeeping staff with the company. “I’ve always believed we’re stronger together than divided like we have been for the past eight years. I look forward to preparing for negotiations and getting a fair contract so that the nurses’ voices can be heard.”

Because of its strong presence at Charlotte Hall and its commitment to uplifting and supporting veterans, the IAM Union has put significant effort into bettering the veterans home to benefit all: In 2022, the IAM installed a new entry sign at the home after completely renovating and upgrading the communal courtyard space, all made possible with funds raised by the 2021 IAM International President’s Capital Classic Golf Tournament.

Additionally, IAM Veterans Services conducted collections of household and comfort items at IAM headquarters for Charlotte Hall veterans during the holiday season, and the IAM’s Winpisinger Center staff, which includes Local 4 members, host veterans from the home for lunch multiple times a year.

“The recognition demonstrates a cooperative approach by PruittHealth to respect workers’ choices and avoid prolonged labor disputes,” said IAM District 4 Directing Business Representative Jay Wadleigh. “We’re proud to represent the staff at Charlotte Hall Veterans Home. We’re proud of the work they do, and we’re proud of the mutually beneficial relationship we have with management that ultimately leads to happy staff and well-cared-for veterans.”

IAM District 4 now looks forward to entering negotiations with McCarthy at the helm to secure a first contract that reflects the needs and priorities of these dedicated nurses and new union members.

“IAM District 4 is a strong force for good in Southern Maryland,” said IAM Eastern Territory General Vice President David Sullivan. “Their solidarity and union pride is strong, and we are pleased to welcome the rest of Charlotte Hall Veterans Home staff into our union. These are caregivers of our veterans, and we intend to make all of their lives better through the IAM.”

The post IAM District 4 Wins Voluntary Recognition for Maryland Veterans Home Nurses appeared first on IAM Union.

MIL OSI USA News –

August 5, 2025
MIL-OSI Security: President Trump Ends Unfair “De Minimis” Tariff Exemption, A Major Victory in Securing the Homeland

Source: US Department of Homeland Security

President Trump’s Executive Order empowers DHS to continue cracking down on smuggling and unfair trade practices

WASHINGTON – President Trump signed an Executive Order suspending duty-free de minimis tariff exemptions for low-value shipments from all countries. His order empowers Homeland Security Secretary Kristi Noem to close this loophole which was used to avoid tariffs and smuggle deadly synthetic opioids like fentanyl into the United States.

“For decades, bad actors have taken advantage of America’s de minimis process by smuggling in deadly narcotics, harmful products, and other contraband in hidden products,” said Department of Homeland Security Assistant Secretary Tricia McLaughlin. “This loophole led to the death of thousands of Americans, fueled the opioid crisis, and harmed U.S. consumers. This decision to end de minimis will save American lives, increase revenue, and protect the American consumer and entrepreneur.”

Under the de minimis treatment, imported goods that are valued at or under $800 were exempt from tariff duties. Countries exploited this system to flood the American market with cheap goods that undercut American manufacturers and cost American jobs. This exemption also allowed drug cartels and other criminal organizations to smuggle drugs and other contraband into our country.

Over the past decade the volume of de minimis shipments to the United States exploded, growing from 134 million shipments in 2015 to over 1.36 billion shipments in 2024. De minimis shipments accounted for 90% of all cargo seizures in FY 24. These shipments often broke the law with 98% of narcotics seized from cargo falling under the de minimis exemption, as well as 97% of counterfeit items seized.

Now, thanks to President Trump’s Executive Order, this loophole is closed. U.S. Customs and Border Protection is empowered to enforce tariffs on these goods and can continue to protect the homeland from the smuggling of deadly synthetic opioids like fentanyl and counterfeit goods. This will save American lives, protect American jobs, and restore billions in lost revenue.

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MIL Security OSI –

August 5, 2025
MIL-OSI USA: VIDEO: Ricketts Fights for America’s Producers

US Senate News:

Source: United States Senator Pete Ricketts (Nebraska)

WASHINGTON, D.C. – This week, during his weekly press call with Nebraska media, U.S. Senator Pete Ricketts (R-NE) discussed the One Big Beautiful Bill and his work to secure the future for those who feed and fuel America.

Watch the video here.

“Agriculture is the heart and soul of what we do in Nebraska,” said Ricketts.  “Family farms, ranches, and agri-businesses are the backbone of communities across our state. The One Big Beautiful Bill helps producers today and lays the foundation for strong agricultural growth tomorrow. It grows our economy at home and will help gain new markets abroad.”

TRANSCRIPT:

Senator Ricketts: “Agriculture is the heart and soul of what we do in Nebraska.

“Family farms, ranches, and agri-businesses are the backbone of communities across Nebraska.

“The One Big Beautiful Bill helps producers today and lays the foundation for strong agricultural growth tomorrow.

“It grows our economy at home and will help gain new markets abroad.

“The One Big Beautiful Bill (OBBB) secures the future for those who feed and fuel America—and the world.

“The One Big Beautiful Bill backs our way of life.

“First of all, the bill avoided a $2,400 tax increase that would have hit the average Nebraska family.

“That’s $2,400 that Nebraskans can continue to spend on groceries, electric bills or to save for a family vacation.

“The bill also helps farmers plan for the next generation.

“Over 80% of Nebraska’s farms are family-owned.

“The 2017 Tax Cuts and Jobs Act cut in half the number of farm and ranch families that were going to be subject to the Death Tax.

“The Big Beautiful Bill ensures the Death Tax exemption will now be permanent and rise with inflation.

“This will ensure that over $200 billion in hard-earned family farm assets across the country will go to the next generation and not the government.

“Now, more farms will be passed down, not taxed away to Uncle Sam.

“The 45Z clean fuel production credit is another major win for Nebraska.

“Biofuels are a win for consumers who save money at the pump.

“It’s a win for the environment, because it helps clean up our environment, and it’s a win for our farmers and ranchers.

“Last year, Nebraskans saved $325 million using ethanol blends.

“Last time I fueled up at Hy-Vee with E10, I saved 55 cents per gallon.

“The 45Z credit boosts biofuel production and creates value for farmers and ranchers.

“It narrows eligible feedstock commodities to North America, protecting Nebraska farmers from foreign competition.

“Producers in Communist China should be prevented from receiving American tax subsidies.

“All of this boosts demand for row crops and renewable fuel production.

“That means more jobs and better prices.

“Nebraska’s 25 ethanol plants support 1,300 jobs and have a $6 billion impact.

“The credit gives investors the certainty they need to hire and expand.

“Nebraska agriculture feeds and fuels the world.

“When I was Governor, I led trade missions to places like Japan and Vietnam to build strong relationships between foreign importers and Nebraska producers.

“I launched an international trade council to discover new opportunities for overseas markets.

“Nebraska’s economy thrives when our producers can reach high-paying global markets.

“Recognizing this, the One Big Beautiful Bill strengthens the Supplemental Agricultural Trade Promotion Program.

“It provides $285 million annually to promote U.S. agricultural exports.

“It doubles funding for the Market Access Program and the Foreign Market Development program.

“That means more demand for Nebraska beef, corn, and soybeans abroad.

“Simply put, when agriculture thrives, so does the entire Nebraska economy.

“Maintaining current exports and opening up markets under the bill will help get better prices for their products for our producers.

“The big beautiful bill gives critical support to young farmers and ranchers, as well, taking over the family business or starting out on their own.

“The Beginning Farmer and Rancher Development Benefit was extended from five years to ten years.

“That gives new producers access to critical risk management tools.

“The bill also supports educational access for rural students.

“It excludes agricultural assets from student financial aid calculations.

“That means farm kids will not be discriminated against when applying for financial aid.

“For young Nebraskans, the bill expands Pell Grant eligibility to short-term job training.

“That includes hands-on fields like welding, diesel tech, and irrigation systems.

“Now, a young Nebraskan in Scottsbluff, for example, can learn a trade and start working at places like Aulick Industries without piling up debt.

“The One Big Beautiful Bill helps Nebraska producers grow and reinvest.

“Full expensing is now permanent for property like tractors and other heavy machinery.

“A corn grower in Custer County will be able to fully write off a new, more efficient combine.

“Another provision in the bill boosts expensing for tools and equipment.

“This helps small businesses from welders to seed dealers invest to improve productivity.

“The Big Beautiful Bill gives producers needed updates to the farm safety net.

“Reference prices now reflect today’s markets.

“Drought aid under the Livestock Forage Program has been improved.

“Now, producers facing feed losses from grazing shortfalls will see faster relief.

“These updates give producers support, stability, and long-term certainty.

“Nebraska’s future depends on certainty for farmers, ranchers, and agri-business.

“The One Big Beautiful Bill supports agriculture today and protects the next generation of farmers and ranchers.

“That is how we keep producing the Good Life.”

MIL OSI USA News –

August 5, 2025
MIL-OSI USA: Kaine, Schumer, Shaheen, & Wyden Announce Intent to Challenge Trump’s Tariffs on Brazil

US Senate News:

Source: United States Senator for Virginia Tim Kaine

WASHINGTON, D.C.—Today, U.S. Senator Tim Kaine (D-VA), Senate Minority Leader Chuck Schumer (D-NY), and U.S. Senators Jeanne Shaheen (D-NH) and Ron Wyden (D-OR) announced their intent to file privileged legislation to challenge President Donald Trump’s tariffs on goods from Brazil in response to steps Brazil is taking to hold friend of Trump and former Brazilian President Jair Bolsonaro accountable for attempting a coup. The additional tariffs announced by Trump will put the total Trump tariffs on Brazilian exports at 50 percent, raising costs for Americans on basic household goods.

In an executive order issued yesterday, Trump invoked the International Emergency Economic Powers Act (IEEPA) to impose the tariffs. Any one senator can challenge the use of IEEPA with a privileged resolution, such as the one the lawmakers will file. That means the Senate will be required to vote on the legislation.

“President Trump has no interest in lowering costs for the American people. If he did, he would not be imposing tariffs and starting senseless trade wars,” said the senators. “We’re particularly concerned about these tariffs on Brazil—which are being put into place to get the Brazilian Supreme Court to stop its prosecution of Trump’s longtime friend Jair Bolsonaro, Brazil’s former president who is facing criminal charges for inciting a violent coup. This is certainly not what tariffs are intended to be used for, and they will raise prices for Americans. That’s why we’ll be introducing legislation to challenge these reckless tariffs against Brazil.”

Americans import more than $40 billion annually from Brazil, including nearly $2 billion’s worth of coffee. Trade between the U.S. and Brazil supports nearly 130,000 jobs in the U.S., and the U.S. actually has a trade surplus with Brazil. A trade war with Brazil would make life more expensive for Americans, harm both the American and Brazilian economies, and drive Brazil closer to China.

Last week, Kaine and Shaheen led their colleagues in sending a letter to Trump urging him to end his threats of tariffs on Brazil.

MIL OSI USA News –

August 5, 2025
Judges question whether Trump tariffs are authorized by emergency powers

Source: Government of India

Source: Government of India (4)

U.S. appeals court judges sharply questioned on Thursday whether President Donald Trump’s tariffs were justified by the president’s emergency powers, after a lower court said he exceeded his authority with sweeping levies on imported goods.

The U.S. Court of Appeals for the Federal Circuit in Washington, D.C., is considering the legality of “reciprocal” tariffs that Trump imposed on a broad range of U.S. trading partners in April, as well as tariffs imposed in February against China, Canada and Mexico.

In hearing arguments in two cases brought by five small U.S. businesses and 12 Democratic-led U.S. states, judges pressed government lawyer Brett Shumate to explain how the International Emergency Economic Powers Act (IEEPA), a 1977 law historically used for sanctioning enemies or freezing their assets, gave Trump the power to impose tariffs.

Trump is the first president to use IEEPA to impose tariffs.

The judges frequently interrupted Shumate, peppering him with a flurry of challenges to his arguments.

“IEEPA doesn’t even say tariffs, doesn’t even mention them,” one of the judges said.

Shumate said that the law allows for “extraordinary” authority in an emergency, including the ability to stop imports completely. He said IEEPA authorizes tariffs because it allows a president to “regulate” imports in a crisis.

The states and businesses challenging the tariffs argued that they are not permissible under IEEPA and that the U.S. Constitution grants Congress, and not the president, authority over tariffs and other taxes.

Neal Katyal, a lawyer for the businesses, said the government’s argument that the word “regulate” includes the power to tax would be a vast expansion of presidential power, Katyal said.

The arguments – one day before Trump plans to increase tariff rates on imported goods from nearly all U.S. trading partners – mark the first test before a U.S. appeals court of the scope of his tariff authority. The president has made tariffs a central instrument of his foreign policy, wielding them aggressively in his second term as leverage in trade negotiations and to push back against what he has called unfair practices.

Trump has said the April tariffs were a response to persistent U.S. trade imbalances and declining U.S. manufacturing power.

He said the tariffs against China, Canada and Mexico were appropriate because those countries were not doing enough to stop illegal fentanyl from crossing U.S. borders. The countries have denied that claim.

Shumate cited a 1975 appeals court decision that authorized President Richard Nixon’s across-the board surcharge of 10% on imported merchandise to slow inflation. But that decision added that the president did not have authority to impose “whatever tariff rates he deems desirable.”

Shumate also said that courts cannot review a president’s actions under IEEPA or impose additional limits that are not included in the law. Several judges said that the argument would essentially allow one law, IEEPA, to overwrite all other U.S. laws related to tariffs and imports.

Katyal said the Trump administration’s argument ignored the more limited nature of Nixon’s tariffs and changes to the law since the 1970s.

“No trade law in 200 years has been interpreted to give the president this power,” Katyal said.

The case is being heard by a panel of all of the court’s active judges, eight appointed by Democratic presidents and three appointed by former Republican presidents. The timing of the court’s decision is uncertain, and the losing side will likely appeal quickly to the U.S. Supreme Court.

TRADE NEGOTIATIONS

Tariffs are starting to build into a significant revenue source for the federal government, with customs duties in June quadrupling to about $27 billion, a record, and through June have topped $100 billion for the current fiscal year. That income could be crucial to offset lost revenue from Trump’s tax bill passed into law earlier this month.

But economists say the duties threaten to raise prices for U.S. consumers and reduce corporate profits. Trump’s on-again, off-again tariff threats have roiled financial markets and disrupted U.S. companies’ ability to manage supply chains, production, staffing and prices.

On May 28, a three-judge panel of the U.S. Court of International Trade sided with the Democratic states and small businesses that challenged Trump. It said that the IEEPA did not authorize tariffs related to longstanding trade deficits.

The Federal Circuit has allowed the tariffs to remain in place while it considers the administration’s appeal.

The case will have no impact on tariffs levied under more traditional legal authority, such as duties on steel and aluminum imports.

The president recently announced trade deals that set tariff rates on goods from the European Union and Japan, following smaller trade agreements with Britain, Indonesia and Vietnam. Trump’s Department of Justice has argued that limiting the president’s tariff authority could undermine ongoing trade negotiations, while other Trump officials have said that negotiations have continued with little change after the initial setback in court.

Trump has set an August 1 date for higher tariffs on countries that don’t negotiate new trade deals.

There are at least seven other lawsuits challenging Trump’s invocation of IEEPA, including cases brought by other small businesses and California.

A federal judge in Washington, D.C., ruled against Trump in one of those cases, and no judge has yet backed Trump’s claim of unlimited emergency tariff authority.

(Reuters)

August 5, 2025
MIL-OSI USA News: ICYMI: “Trump nailed the biggest trade deal in American history and proved everyone wrong – again!”

Source: US Whitehouse

President Donald J. Trump’s trade deal with the European Union has been hailed as among the most consequential trade deals in history — securing massive investments, finally addressing the lopsided trade deficit, securing new market access, and more.

It’s just the latest example of just how wrong President Trump’s critics have been — a fact highlighted by the New York Post’s Miranda Devine in a new op-ed:

“When President Trump nailed the biggest deal in history on Sunday with the European Union on trade, you could almost hear the sound of egg splattering all over the faces of experts across the Atlantic.

Economists, Democrats and Never-Trumpers have confidently predicted economic doom and gloom, ever since the self-proclaimed Tariff Man declared April 2 as ‘Liberation Day,’ fulfilling his long-held personal theory that tariffs are key to economic wealth.

Trade war! Recession! Stagflation! Skyrocketing inflation! Stock market crash!

You name it, they predicted Trump’s tariffs would sink the economy.

Trump was defying economic orthodoxy, so he just had to be wrong.

But it’s turned out that the lofty group-thinkers were wrong, not that most of them will admit it.”

Click here to read the full article.

MIL OSI USA News –

August 5, 2025
MIL-OSI USA: Attorney General Bonta Issues Consumer Alert Amid Increase in Reported Scams Targeting the Military Community
Source: US State of California

Thursday, July 31, 2025

Contact: (916) 210-6000, agpressoffice@doj.ca.gov
Does an offer seem too good to be true? Take a tactical pause to evaluate

OAKLAND — In recognition of Military Consumer Month, Attorney General Rob Bonta today issued a consumer alert to help protect California service members, veterans, and their family members from targeted common scams and fraud. The military community and their families are often targets for predatory scammers: According to the Federal Trade Commission, military consumers nationwide reported over 99,400 fraud complaints last year — an increase from 2023’s approximately 93,000 complaints — including 44,587 imposter scams that reportedly cost them and their families over $199 million.

“More and more often, service members, veterans, and their families are targets for predatory scammers promising everything from home loans to jobs, and continuing education. This is absolutely unacceptable. As part of our commitment to protect those who protect us, my office will continue to bring the full force of the law against those who seek to exploit California’s military community,” said Attorney General Bonta. “If you have fallen victim to a scam or suspect fraudulent activity, get help and share your story so that we can help your fellow service members. You can report fraud to your local military or civilian law enforcement agency, or to the California Department of Justice at oag.ca.gov/report.”

Why is the Military Community Targeted?

Military service members, veterans, and their families are frequently targeted by scammers who want access to their pay and benefits, and who know that military members will often pay even fraudulent or over-stated debts to avoid security clearance issues or other disruptions to their military careers. In addition, the camaraderie that unites the military community is often exploited by impostors who claim to be veterans in attempts to perpetrate scams or access personal information for fraudulent purposes.

Common Scams Targeting the Military Community:

Scammers use a variety of tactics to gain trust. Protect yourself by staying up to date on common military- and veteran-targeted scams. Beware of the following:
- Charity Scams: Just because a charity includes the word “veteran” in its name doesn’t mean that veterans are members of the group, or that veterans or their families will benefit from a donation. Scammers will use names that sound legitimate or those that mimic the names of well-known charities to create confusion. Take the time to make an informed decision and be wary of aggressive solicitations. Go to oag.ca.gov/charities, under the Resources & Tools section, and click on Registry Verification Search. If a charity is not listed, it should not be soliciting funds in California. If it is listed, you can view its financial reports, including the IRS Form 990 that the charity is required to file with DOJ’s Registry of Charitable Trusts.
- Predatory Schools: The GI Bill and other military education programs offer you the chance to attend school and plan for your future, but for-profit schools sometimes target service members and veterans with false promises. Slow down and take the time you need to make the right decision. Predatory schools often use high-pressure sales tactics to try to get you to sign up. It’s important to ask for information about the programs, such as graduation rates, job placement, and graduate salary information. Offers that seem too good to be true generally are. Further, don’t forget that educational opportunities at the California Community Colleges, California State University, and University of California may be available to you.
- Home Loan Scams: Be aware of scammers that — through phone calls or fraudulent mailers — claim to be affiliated with the government, the Department of Veterans Affairs, or your home loan servicer. These fraudsters may attempt to convince you to agree to loan modifications, refinance your home, or make payments on your loans. Be cautious of any individual or lender that contacts you and asks you to pay fees upfront before receiving any services; tells you to cancel your mortgage payment and resend the funds elsewhere; tells you to make payments to someone other than your current loan servicer; or pressures you to sign papers you haven’t had a chance to read thoroughly or that you don’t understand — including asking you to sign over the title to your property.
- Identity Theft and Fraud: Some scammers will pretend to be from the Department of Defense, Department of Veterans Affairs, or other official organizations in order to get your personal information so that they can commit identity theft or fraud. Before you provide any information, always make sure a request is coming from an official organization by doing a quick search on the internet or consulting a trusted source to get the organization’s real contact information. Never trust the contact information given by the person that is asking for your personal information, as scammers often give out fake contact information. Be wary of letters and emails that have misspellings, look unprofessional, or send you to a non-government website for information or action, as these are almost always fake. Lastly, never give out your Social Security number to receive military or veteran discounts. Scammers often promise military or veteran discounts in order to obtain personal information.
- Job Scams: Service members looking for new career opportunities after leaving service are a target for scammers posting fictitious job listings with the goal of stealing their personal information and finances. Avoid becoming a victim of job scams by conducting thorough research on the company. Additionally, stick to well-known job search platforms and government career websites when looking for job opportunities. Remember, legitimate employers will never require you to pay fees for applications, interviews, or background checks. You should also look out for fake check scams, which occur when a scammer posing as an employer sends you a counterfeit check to deposit into your account. The scammer will then ask you to send a portion of the funds back to them or a third party, while letting you keep some as payment. Eventually, the bank reverses the fake check, leaving you stuck paying the money back to the bank. If something feels off or suspicious during the job search, trust your instincts and end communication immediately.
- Pension Scams: Veterans ages 65 and over are targeted by scam financial advisers who try to persuade senior veterans to buy costly annuities or transfer their assets into trusts, or pay unnecessary and illegal fees for help with a veterans pension application. These “advisers” claim to help veterans qualify for Aid and Attendance or other veterans benefits, but may cause you to lose eligibility or access to pension, disability, or healthcare benefits. If you are interested in Aid and Attendance or other veterans benefits, you can get free help from your County Veterans Service Office here.
- Affinity Fraud: Affinity scams target members of identifiable groups, including the military. The perpetrators are — or pretend to be — members of the targeted group, and use sales pitches that rely on group trust and loyalty. In the military community, this includes exploiting the trust that service members have for their fellow service members, and for veterans who previously served. Don’t make a significant purchase, or an investment decision, based on the salesperson’s supposed military service, or the claim that a business is military-friendly or endorsed by the Armed Forces. Take a tactical pause, and shop around for the best deal.
- Debt Collection and Illegal Threats: Debt collectors may try to trick or scare service members into making payments on debts. It is illegal for debt collectors to do any of the following: revoke your security clearance; contact your command in order to collect a debt (unless they have your consent, given after the debt came due, to do so); discipline or demote you; or garnish your pay. If a debt collector is trying to collect a debt that you do not owe or have already paid, dispute the debt in writing. Tell the debt collector why you do not owe the debt, include copies of any evidence you have, and mail this dispute to the debt collector using registered mail so that you have proof that the collector received it — and make sure to keep copies of everything for yourself. If you dispute the debt within 30 days after the collector first contacted you, the collector must stop collection until it shows you written proof of the debt.
- Rental Housing Scams: These scams target military personnel looking for housing near a base, especially prevalent during the Permanent Change of Station season. Scammers pretend to be real estate agents and post fake ads for rental properties on websites, sometimes promising military discounts and other incentives in order to get service members to send them money for fees and deposits upfront. If someone insists on receiving money or other payments before a property has been seen, it is likely a rental scam. Avoid wiring money to reserve apartments, and use your installation housing office or established property management companies to locate potential housing.
- Predatory Auto Sales and Financing: Car dealers located near military bases may try to lure service members with promises of special deals for military personnel. Often, these so-called deals conceal the terms of purchase for the vehicle and result in the service member drastically overpaying for both the vehicle and the cost of financing. For example, dealers may insist that military personnel will not qualify for financing unless they purchase overpriced and unnecessary add-ons. Other times, the dealer may tell a service member who just purchased a car that the initial financing fell through and insist on renegotiating for worse terms. You should not rely on oral promises, nor feel pressured to enter into any purchase, without first reading and understanding the contract. If you are looking to purchase a car, you should explore all of your options for financing — including by contacting your bank or credit union — before making a purchase.
Protect Yourself from Scams:
- Bring a battle buddy when making big decisions, and take a tactical pause: Take your time with big decisions and get advice. A business that pressures you to make a quick decision or to not talk with your family, friends, a military financial counselor, or an officer or NCO that you trust may be out to scam you.
- Take advantage of free annual credit reports: You are entitled to one free credit report every year from each of the three national credit bureaus: Equifax, Experian and TransUnion. Your credit history contains information from financial institutions, utilities, landlords, insurers, and others. By checking your credit reports at least once a year, you can identify signs of identity theft, as well errors in your report that could be raising the cost of your credit. Order your free annual credit reports by phone, toll-free, at 1-877-322-8228, or online at www.annualcreditreport.com.
- Place a Fraud Alert: If your identity is stolen, put a fraud alert on your credit report by contacting the three main credit reporting agencies: Equifax, Experian, and TransUnion. Also, consider requesting a credit freeze, which will restrict access to your credit file, making it difficult for identity thieves to open new accounts in your name. Report identity theft right away and get a recovery plan at identitytheft.gov. Additionally, file a police report with your local sheriff or police department and keep a copy for your records.
- Report Suspicious Activity: Never give out personal information to a lender or servicer that contacts you out of the blue. If you are feeling unsure, hang up and call your loan servicer directly at the number that is listed on your mortgage statement. Report suspicious activity to the Office of the Attorney General at oag.ca.gov/report and file a complaint with the FTC at reportfraud.ftc.gov.
- Protect your online information and accounts with strong passwords: Protect yourself by using different, unique passwords for each of your online accounts. Make sure that the passwords you use are at least eight characters, including a mix of letters, numbers, and symbols.
- Check your credit card bills and bank statements often: Look for unauthorized charges, withdrawals, or unexpected bills, and report irregular activity to your bank as soon as you see it. If you notice that a bill didn’t arrive on time, it may mean that someone has changed the contact information on your account in order to hide fraudulent charges. Don’t share personal information: Be careful about what personal information you share, such as your address or financial information.
- Sign up for the Enhanced Homeowner Notification Program: If you reside in Los Angeles County, you may sign up to receive mailed copies of documents recorded against your home, allowing you to review recorded real estate documents so you are aware of actions taken against your property.
If you believe you have been the victim or target of a scam, immediately contact your local police department or reach out to your base legal office. For the legal office’s contact information, ask your command or visit to legalassistance.law.af.mil/. California National Guard personnel can also obtain legal help at calguard.ca.gov. You may also file a complaint with the Office of the Attorney General at oag.ca.gov/report. For additional information on military-targeted scams, visit our website at oag.ca.gov/consumers/general/military.
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MIL OSI USA News –
August 5, 2025

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