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Category: United States of America

  • MIL-OSI USA: 3 CoE Students Pursue In-Depth Research Projects as University Scholars

    Source: US State of Connecticut

    As 2025 University Scholars, three College of Engineering students are spending their last three semesters pursuing personalized research projects.

    Open to all undergraduate students, the University Scholar Program allows students to design an in-depth research or creative project and to craft a learning plan that supports their academic goals during their final three semesters. Each student is mentored by an advisory committee of three faculty.

    Admission to the University Scholars program is based on an application submitted during the first semester of a student’s junior year. Applications are reviewed by an interdisciplinary committee of faculty members who may select up to 30 University Scholars in any given year.

    The University Scholars and their projects are below:

    Laxmi Chinmaya Vobbineni ’26
    Project Title: The Synergic Role of Electrical and Chemical Stimulation in Wound Healing of Diabetic Patients

    University Scholar Laxmi Vobbineni ’26 is exploring techniques that can help diabetes patients heal faster from wounds.

    People with diabetes often have trouble healing from wounds. Since high blood sugar can damage blood vessels and weaken the immune system, white blood cells struggle to reach the wound. This can slow tissue repair and lead to ongoing inflammation.

    Wounds may heal very slowly, become chronic, or leave scars—and this can be painful and expensive for patients.

    University Scholar Laxmi Vobbineni ’26, a biomedical engineering and molecular and cell biology double major, is working to help diabetic patients heal from wounds faster by using chemical and electrical stimulation.

    “Chemical stimulation, such as ion channel blockers, in conjunction with electrical stimulation may improve the wound healing process for diabetic patients,” she says.

    By combining these treatments with an ionically-conductive biomaterial called scaffolding, ions can help restore electrical signals in the body that guide white blood cells to repair tissue.

    “Our hope is to develop a system that has high potential for clinical use,” Vobbineni says.

    Vobbineni’s advisors are Syam Nukavarapu, professor and department head in Biomedical Engineering; David Daggett, associate professor-in-residence of molecular and cell biology; and Sangamesh Kumbar, associate professor of orthopedic surgery at the UConn Health Center. She also interns at the UConn Health Center under Kumbar, working on projects related to the fields of tissue engineering and drug delivery.

    Vobbineni, a member of the Society of Women Engineers and STEM Scholar Executive Board, volunteers as a nursing aide at the Hospital for Special Care in New Britain, Connecticut. She also holds an executive board position for the UConn FIRST (For Inspiration and Recognition of Science and Technology) Lego League Explore Program, which uses Legos and technology to excite youth about robotics and STEM.

    Her involvement in FIRST began in middle school and high school and sparked her interest in innovation. “This is one of the reasons I decided to pursue biomedical engineering,” she says.

    After graduation, Vobbineni plans to pursue medical school and work in the field of emergency medicine.

    Wyeth Haddock ’26
    Project Title: Developing a Copper-Based Medium Entropy Alloy with Enhanced Mechanical Properties for Space Applications

    University Scholar Wyeth Haddock ’26, at left, is working at the National Center for Electron Microscopy in Berkeley, California this summer.

    As a University Scholar, Wyeth Haddock ’26, a materials science and engineering major, is developing a structural material for use in extreme environments with potential applications in space exploration and nuclear energy.

    His project focuses on synthesizing and analyzing an alloy made from copper, dysprosium, and yttrium (Cu-Dy-Y) that exhibits enhanced mechanical properties. By studying the alloy’s microstructure, phase stability, and mechanical behavior across temperature regimes, Haddock hopes to demonstrate improved material performance in extreme conditions and understand unique deformation behavior.

    “If successful, the alloy could support the development of more durable materials for space exploration,” he says.

    Haddock’s advisors include Seok-Woo Lee, associate professor of materials science and engineering and Director of Undergraduate Studies; and Yuanyuan Zhu, associate professor of materials science and engineering and director of the MSE Honors Program.

    Haddock, an honors student from Fairfax, Vermont, is president of the UConn Running Club, and is a member of the UConn Materials Advantage Society, Tau Beta Pi Engineering Honor Society, Alpha Sigma Mu MSE Honor Society, and the ASM Board of Trustees. His jobs on campus include work as a campus tour guide and undergraduate teaching assistant. He recently served as a facilitator for the Honors First Year Experience program and as a Floor Mentor for the Honors 2 Opportunities Learning Community.

    This summer, Haddock is a STROBE Summer Undergraduate Research Scholar at the University of California at Berkeley where he works in the National Center for Electron Microscopy at the Lawrence Berkeley National Laboratory.

    “Throughout my UConn experience, I’ve immersed myself in collaborative communities, working in a lab, facilitating a first-year course, and traveling nationally to compete in running races,” he says. “These sorts of experiences have allowed me to further my learning, as I seek to positively impact the world around me.”

    Haddock intends to pursue a Ph.D. in materials science and engineering, with an emphasis on understanding how atomic structure influences the properties of materials. He hopes to continue research in structural materials, developing the materials necessary for the complex demands of an evolving world.

    Passionate about education and outreach, Wyeth also hopes to continually inspire younger audiences to get involved in materials science and engineering.

    Zhengyang Wei ’26
    Project Title: Stability Analysis on 9D Shear Flow Model by Small-Signal Finite-Gain Lp Stable Theorem

    University Scholar Zhengyang Wei ’26 is exploring ways to improve the stability and performance of aerodynamic designs.

    Turbulence—when fluid flow becomes chaotic—is difficult to control, but preventing it is important in many engineering systems. As a University Scholar, mechanical engineering major Zhengyang Wei ’26 is using mathematical tools to prevent turbulence by studying shear flows. In shear flows, layers of liquid or gas move parallel to each other but at different speeds.

    By finding the conditions that keep the flow stable, Wei’s research can help improve the stability and performance of aerodynamic designs, industrial systems, and other applications. This work contributes to developing effective strategies for controlling shear flows and advancing fluid dynamics research.

    “For example, we can mitigate the transition to turbulence in the wind over an airplane wing, which will make the flight more stable and efficient,” he explains.

    His advisors are Chang Liu, assistant professor in the School of Mechanical, Aerospace, and Manufacturing Engineering; Reza Sheikhi, professor-in-residence in the School of Mechanical, Aerospace, and Manufacturing Engineering; and Jason Lee, professor-in-residence in the School of Mechanical, Aerospace, and Manufacturing Engineering.

    As a member of the FLUids, rEduction, Nonlinearity, and Turbulence (FLUENT) Lab, Wei and Liu published a paper on shear flows in the June 2025 issue of arXiv.

    Wei, a math minor, also is a 2025 Summer Undergraduate Research Fund (SURF) awardee. He plans to pursue a Ph.D. in fluid stability or optimization.

    As University Scholars, Vobbineni, Haddock, and Wei receive a range of benefits designed to support and enrich their academic journey. These include a financial award that covers the General University Fee and Student Health Services Fee for up to three regular semesters, or until graduation from the program. Scholars are also eligible for course credit fee waivers for up to nine credits of summer or intersession courses, and the opportunity to enroll in graduate-level courses with instructor permission.

    Students accepted into a UConn graduate program while in the University Scholar Program may begin working toward their graduate degree as undergraduates, with the ability to apply eligible graduate-level coursework toward that degree.

    MIL OSI USA News –

  • 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 –

  • MIL-OSI USA: Governor Hochul Calls to End Humanitarian Crisis in Gaza

    Source: US State of New York

    ??The arrival of U.S. Special Envoy Steve Witkoff in Israel today must serve as a turning point for the crisis in Gaza. The reports that continue to emerge are harrowing, and I am calling for Israel to work with the United States and the international community to immediately ensure sustained humanitarian aid can reach civilians. Allowing innocent children to starve to death is simply unconscionable, and as a mother, my heart is broken by these images of famine.

    “I have always been a strong supporter of Israel. I visited Kfar Aza in the immediate aftermath of October 7th, mourned with families who had lost loved ones to the attacks by Hamas, and in the more than 600 days since, I have continued to advocate for the release of all hostages.

    “But support for the people of Israel also requires us to demand that the Israeli government do what is right. At the same time, we must continue to demand that Hamas release all hostages and finally bring an end to this conflict. This humanitarian crisis has gone on for too long, and it is time to secure a lasting peace that protects the lives of both Israelis and Palestinians.”

    MIL OSI USA News –

  • 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 –

  • MIL-OSI Security: ARMED CAREER CRIMINAL SENTENCED TO 15 YEARS IN FEDERAL PRISON

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    GAINESVILLE, FLORIDA – James C. Mobley, 43, of Gainesville, Florida, was sentenced to a total of 15 years in federal prison following his conviction for possession of a firearm by a convicted felon. John P. Heekin, United States Attorney for the Northern District of Florida announced the sentence.

    U.S. Attorney Heekin said: “This sentence ensures that our community will be safer and sends a strong message that there are real and severe consequences for federal firearm offenses. Thanks to the outstanding work of our law enforcement partners, this armed felon has been called to account for his continued criminal conduct.”

    On July 11, 2024, Gainesville Police Department officers conducted a traffic stop of Mobley. During a search of Mobley’s vehicle, officers located a loaded revolver and various narcotics. Mobley pleaded guilty the day his trial was set to commence on April 28, 2025. Mobley was sentenced as an armed career criminal due to his numerous felony convictions for serious drug offenses.

    “We have zero tolerance for gun crimes in our community. My message to those who choose to bring guns and drugs to our streets – we will find you, and we will work with all our criminal justice partners to hold you accountable. Our community deserves safety,” said Chief Nelson Moya, Gainesville Police Department.

    Mobley’s imprisonment will be followed by five years of supervised release. This conviction was the result of an investigation conducted by the Bureau of Alcohol Tobacco, Firearms and Explosives, and the Gainesville Police Department. Assistant United States Attorneys Harley W. Ferguson and Adam Hapner prosecuted the case.

    This case is part of Operation Take Back America (https://www.justice.gov/dag/media/1393746/dl?inline) a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).

    The United States Attorney’s Office for the Northern District of Florida is one of 94 offices that serve as the nation’s principal litigators under the direction of the Attorney General. To access public court documents online, please visit the U.S. District Court for the Northern District of Florida website. For more information about the United States Attorney’s Office, Northern District of Florida, visit http://www.justice.gov/usao/fln/index.html.

    MIL Security OSI –

  • MIL-OSI: Coface SA: Coface confirms its good start to the year and continues its strategic investments. Annualised return on tangible equity at 12.6%

    Source: GlobeNewswire (MIL-OSI)

    Coface confirms its good start to the year and continues its strategic investments. Annualised return on tangible equity at 12.6%

    Paris, 31 July 2025 – 5.35 p.m.

    • Turnover: €937m, up +2.3% at constant FX and perimeter
      • Trade Credit Insurance revenue up +1.7%; client activity up +1.8%
      • Client retention back up at near-record (94.0% vs. 92.8% in H1-24); pricing remained negative
        (-1.6%), in line with historical trends
      • Business Information growing again double-digit (+14.7% at constant FX); Debt Collection up +35.0%; Factoring down slightly by -1.5% due to lower interest rates
    • Net loss ratio at 40.1%, up 5.1 ppts; net combined ratio at 71.3%, up 7.9 ppts
      • Gross loss ratio at 37.8%, up 5.3 ppts year-on-year but improving slightly in Q2-25 relative to the previous quarter, showing good risk control
      • Net cost ratio up 2.8 ppts at 31.2%, reflecting past inflation as well as continued investments
    • Coface continues to strengthen its credit insurance business and is rolling out its data strategy:
      • Strengthening governance with the appointment of Joerg Diewald as Director of Information Services and Partnerships and Thibault Surer as head of a new technology division focused on data, connectivity and product innovation
      • Creation of a new Lloyd’s syndicate allowing Coface to offer AA solutions to its clients
      • Acquisition of Cedar Rose and Novertur International
    • Net income (Group share) at €124.2m, down 12.7% compared with the record set in H1-24. Annualised RoATE1at 12.6%
    • Estimated solvency ratio of 195%2, above the target range (155% – 175%)

    Unless otherwise indicated, changes are expressed by comparison with the results as at 30 June 2024.

    Commenting, Xavier Durand, CEO of Coface, said:
    “Coface generated net income of €62m in Q2-25, down from a record Q2-24. The number of bankruptcies worldwide has continued to rise steadily and is now well above pre-COVID levels. Through constant vigilance and flawless execution, we have contained the increase in the loss experience, with the uncertainties created by the increase in tariffs in the United States having probably yet to fully materialise.
    However, our revenues are growing, both in credit insurance and services. This growth is being driven by our investments, which have brought new business to a record level in insurance and services.
    These deliberate investments strengthen our distribution capabilities, the range of products and services available to our clients, and our risk analysis tools. Since the beginning of the year, we have made two acquisitions in information services, Cedar Rose and Novertur. We have also announced the launch of a Lloyd’s syndicate to offer AA solutions to some of our clients.
    Lastly, our solvency ratio remains high, at 195%.”  

    Key figures at 30 June 2025

    The Board of Directors of COFACE SA examined the consolidated financial statements at 30 June 2025 at its meeting of 31 July 2025. These statements were also previously reviewed by the Audit Committee at its meeting of 30 July 2025. These interim consolidated financial statements have been subject to limited review by the Statutory Auditors. The limited review report is being issued.

    Income statement items in €m H1-24 H1-25 Variation % ex FX*
    Insurance revenue 754.3 760.0 +0.8% +1.7%
    Other revenues 168.5 176.6 +4.9% +4.8%
    REVENUE 922.7 936.6 +1.5% +2.3%
    UNDERWRITING INCOME (LOSS) NET OF REINSURANCE 195.0 153.6 (21.2)% (20.3)%
    Investment income, net of management expenses,excluding finance costs 40.8 26.3 (35.4)% (36.0)%
    Insurance finance expenses (18.1) 6.7 (137.1)% (130.8)%
    CURRENT OPERATING INCOME 217.7 186.6 (14.3)% (14.1)%
    Other operating income and expenses (0.5) (0.6) +21.8% +12.2%
    OPERATING INCOME 217.2 186.0 (14.4)% (14.2)%
    NET INCOME (GROUP SHARE) 142.3 124.2 (12.7)% (12.7)%
             
    Key ratios H1-24 H1-25 Variation
    Loss ratio after reinsurance 35.0% 40.1% 5.1 ppts
    Cost ratio after reinsurance 28.4% 31.2% 2.8 ppts
    COMBINED RATIO AFTER REINSURANCE 63.4% 71.3% 7.9 ppts
             
    Balance sheet items in €m 2024 H1-25 Variation
    Total equity (Group share) 2,193.6 2,098,0 (4.4)%
      H1-24 H1-25    
    Solvency ratio 195%1 195%1 0 ppt

    * Excluding scope effect.
    1This estimated solvency ratio is a preliminary calculation made according to Coface’s interpretation of Solvency II regulations and using the Partial Internal Model. The final calculation may differ from this preliminary calculation. The estimated solvency ratio is not audited.

    1.   Revenue

    Coface posted consolidated turnover of €937m in the first half of 2025, up +2.3% at constant FX and perimeter compared with H1-24. On a reported basis (at current FX and perimeter), turnover was up +1.5%.

    Revenues from insurance activities (including Bonding and Single Risk) increased +1.7% at constant FX and perimeter, benefiting from a slight increase in client activity and the return to a record retention level at 94.0%. New business reached €76m, the highest since H1-20, driven by an increase in demand and benefiting from growth investments made by Coface.

    Growth in client activity had a positive impact of +1.8% in H1-25 against a backdrop of extreme political uncertainty, particularly in terms of tariffs, and modest economic growth. The price effect remained negative at -1.6% in H1-25, in line with long-term trends. This decrease is largely explained by a very low past loss experience, offset by today’s return to normal.

    Turnover from non-insurance activities was up +8.2% compared with H1-24. Factoring turnover fell -1.5% in H1-25 and -2.2% in Q2 25 on lower interest rates and weak client activity in Germany and Poland. Information services turnover continued to post double-digit growth, at +14.7%. Debt Collection commissions increased, from a still modest base, by +35% due to the increase in claims to be collected. Fee and commission were up +2.3%.

    Total revenue in €m
    (by invoicing region)    		 H1-24 H1-25 Variation % ex FX3
    Northern Europe 185.0 185.2 +0.1% +0.1%
    Western Europe 187.6 191.6 +2.1% +1.0%
    Central and Eastern Europe 87.0 83.9 (3.5)% (3.8)%
    Mediterranean & Africa 276.0 280.2 +1.5% +3.0%
    North America 88.7 87.7 (1.2)% +2.0%
    Latin America 38.2 41.5 +8.6% +17.5%
    Asia-Pacific 60.2 66.5 +10.5% +9.5%
    Total Group 922.7 936.6 +1.5% +2.3%

    In the Northern Europe region, turnover was up +0.1% at constant and current FX. The credit insurance business benefited from robust new business and a high retention rate. Factoring turnover was down -1.6%.

    In Western Europe, turnover rose +1.0% at constant FX (2.1% at current FX) on solid sales performances in services (+27%) and credit insurance, offsetting the loss of a contract with a financial institution.

    In Central and Eastern Europe, turnover was down -3.8% at constant FX (-3.5% at current FX) but improved significantly compared with the previous quarter (-6.9%). Credit insurance was negatively impacted by a non-recurring effect recorded in 2024, as well as the transfer of a major contract to the Asia-Pacific region.

    In the Mediterranean & Africa region, which is driven by Italy and Spain, turnover increased +3.0% at constant FX and +1.5% at current FX, the result of a high retention rate and a more dynamic economy overall.

    In North America, turnover rose +2.0% at constant FX (-1.2% on a reported basis). The region is benefiting from an improvement in new business. Reported figures have been adversely affected by the sharp fall in the US dollar since the beginning of the year.

    In Latin America, turnover was up +17.5% at constant FX and +8.6% at current FX. The region is benefiting from the persistently high level of local inflation, which is benefiting client activity.

    Turnover in the Asia-Pacific region was up +9.5% at constant FX and +10.5% at current FX, driven by a high retention rate, a rebound in client activity, and the transfer of a client from another region.

    2.   Result

    • Combined ratio

    The combined ratio after reinsurance stood at 71.3% in H1-25 (up 7.9 ppts year on year) and 74.0% in Q2-25, reaching a level close to the cycle average.

    (i)  Loss ratio

    The gross loss ratio stood at 37.8%, up 5.3 ppts year-on-year. This increase reflects the return to normal of the loss experience, offset by the reserve releases, which remain at a high level. The number of mid-sized claims increased but remains below long-term trends.

    The Group’s reserving policy remained unchanged. The amount of provisions related to the underwriting year, although discounted, remained in line with the historical average. The rigorous management of past claims enabled the Group to record 41.0 ppts of recoveries.

    The net loss ratio increased to 40.1%, up 5.1 ppts compared with H1-24, but close to the level reached in H1-23 (40.3%), in today’s more difficult economic environment.

    (ii)  Cost ratio

    Coface is pursuing its strict cost management policy while maintaining its investments, in accordance with the Power the Core strategic plan. Costs were up +7.0% in H1-25 at constant FX and perimeter and +6.3% at current FX.

    The cost ratio before reinsurance stood at 34.6% in H1-25, up 2.0 ppts year on year. This increase mainly resulted from cost inflation (0.6 ppt) as well as continued investments (2.3 ppts). Conversely, the improved product mix (information services, debt collection and fee and commission income) had a positive effect of -0.9 ppt. The trend in reinsurance commissions explains the remainder of the variation.

    • Financial income

    Income from financial investments was +€26.3m in the first half of the year. The total includes an FX effect of -€17.0m on financial assets, owing to the sharp fall in the dollar against the euro, as well as a negative impact of the application of IAS 29 (hyperinflation) in Turkey of -€6.7m.

    The portfolio’s current income (i.e. excluding capital gains, depreciation and FX) was €52.1m. The accounting yield4, excluding capital gains and fair value effect, was 1.6% in H1-25. The yield on new investments was 3.7%.

    Insurance finance expenses (IFE) were positive at €6.7m in H1-25. They include a significant FX gain (+€23.1m) on technical liabilities, which reflects the expense recorded on assets and partially on net loss.

    • Operating income and net income

    Operating income totalled €186.0m in H1-25, down 14.4%, approaching the level reached in H1-23.

    The effective tax rate in H1-25 was 25% (vs. 27% in H1-24).

    Overall, net income (Group share) was €124.2m, down 12.7% compared with H1-24, slightly below the result in H1-23 (€128.8m) in a more difficult economic environment.

    3.   Shareholders’ equity

    At 30 June 2025, Group shareholders’ equity was €2,098.0m, down €95.6m or -4.4% (€2,193.6m at 31 December 2024).

    The change is mainly due to positive net income of €124.2m, the dividend payment of -€209m, and the increase in unrealised capital gains (€21.9m).

    The annualised return on average tangible equity (RoATE) was 12.6% at 30 June 2025, down compared with the previous year, in line with the decline in net income.

    The solvency ratio stood at 195%5, stable compared with H1-24. It remains well above the Group’s target range (155%-175%).

    4.   Outlook

    The second quarter of 2025 was marked by the continued increase in tariffs announced by the United States. The US administration’s announcements of sharp increases alternated with deferments of varying duration and the signing of a few bilateral agreements. As things stand today, tariffs on imports from Europe should reach 15%.

    Some tariffs (automotive, metals) have already come into force and have had direct negative consequences on the trade flows of the goods concerned. Conversely, announcements of deferred tariffs triggered advance purchases, bolstering economic activity. Lastly, extreme uncertainty as to the final outcome of the tariff issue have led to a postponement of investments as well as the redirection of Chinese exports, particularly towards markets deemed more stable.

    This highly uncertain environment is impacting global trade and the health of companies in markedly different ways. During the second quarter, Coface downgraded the ratings of 23 sectors and 4 countries. Persistent inflationary pressures are preventing central banks from cutting rates for now. Demand is being supported solely by the maintenance of high public deficits and the continuation of an extremely strong investment cycle to foster the development of AI technology.

    Business failures have increased in 80% of advanced economies and are now at a decade high, 20% to 25% higher than in 2019.

    Coface’s expertise in risk management and services (information services, debt collection) is more relevant than ever in this context of rapid change. The company is resolutely pursuing its investments while they weigh on the cost ratio in the short term. Since the beginning of the year, Coface has announced two acquisitions (Cedar Rose and Novertur) as well as the creation of a Lloyd’s syndicate and a technology division.

    Conference call for financial analysts

    Coface’s H1-2025 results will be discussed with financial analysts during the conference call that will take place on Thursday 31 July at 6.00 p.m. (Paris time). It will be accessible:

    The presentation will be available (in English only) at the following address:
    http://www.coface.com/fr/Investisseurs/Résultats-et-rapports-financiers

    Appendices

    Quarterly results

    Income statement items in €m
    Quarterly figures    		 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25   % % ex. FX*
    Insurance revenue 378.6 375.6 375.9 382.7 382.9 377.1   +0.4% +2.3%
    Other revenues 85.0 83.4 78.0 85.5 90.3 86.3   +3.5% +4.2%
    REVENUE 463.7 459.1 453.8 468.3 473.2 463.4   +0.9% +2.6%
    UNDERWRITING INCOME (LOSS)
    AFTER REINSURANCE    		 100.3 94.7 88.8 84.9 85.4 68.2   (27.9)% (25.5)%
    Investment income, net of management expenses, excluding finance costs 17.9 22.8 19.0 31.9 10.4 15.9   (30.3)% (29.5)%
    Insurance finance expenses (11.4) (6.7) (7.3) (17.1) (4.1) 10.8   (262.8)% (249.1)%
    CURRENT OPERATING INCOME 106.8 110.9 100.5 99.7 91.6 95.0   (14.3)% (12.9)%
    Other operating income and expenses (0.1) (0.5) (2.6) (5.5) (0.4) (0.3)   (43.9)% (48.0)%
    OPERATING INCOME 106.8 110.4 97.9 94.2 91.2 94.7   (14.2)% (12.7)%
    NET INCOME (GROUP SHARE) 68.4 73.8 65.4 53.4 62.1 62.1   (15.9)% (14.7)%
    Income tax rate 27.2% 26.8% 25.5% 36.2% 23.0% 26.3%   (0,5) ppt

    Cumulated results

    Income statement items in €m
    Cumulated figures    		 Q1-24 H1-24 9M-24 FY-24 Q1-25 H1-25   % % ex. FX*  
    Insurance revenue 378.6 754.3 1,130.2 1,512.9 382.9 760.0   +0.8% +1.7%  
    Other revenues 85.0 168.5 246.4 331.9 90.3 176.6   +4.9% +4.8%  
    TURNOVER 463.7 922.7 1,376.6 1,844.8 473.2 936.6   +1.5% +2.3%  
    UNDERWRITING INCOME (LOSS)
    AFTER REINSURANCE    		 100.3 195.0 283.8 368.7 85.4 153.6   (21.2)% (20.3)%  
    Investment income, net of management expenses, excluding finance costs 17.9 40.8 59.8 91.7 10.4 26.3   (35.4)% (36.0)%  
    Insurance finance expenses (11.4) (18.1) (25.4) (42.5) (4.1) 6.7   (137.1)% (130.8)%  
    CURRENT OPERATING INCOME 106.8 217.7 318.2 417.9 91.6 186.6   (14.3)% (14.1)%  
    Other operating income and expenses (0.1) (0.5) (3.1) (8.6) (0.4) (0.6)   +21.8% +12.2%  
    OPERATING INCOME 106.8 217.2 315.1 409.2 91.2 186.0   (14.4)% (14.2)%  
    NET INCOME (GROUP SHARE) 68.4 142.3 207.7 261.1 62.1 124.2   (12.7)% (12.7)%  
    Income tax rate 27.2% 27.0% 26.5% 28.7% 23.0% 24.7%   (2,3) ppt

    * Excluding scope effect.

    CONTACTS

    INVESTOR/ANALYST RELATIONS
    Thomas Jacquet: +33 1 49 02 12 58 – thomas.jacquet@coface.com
    Rina Andriamiadantsoa: +33 1 49 02 15 85 – rina.andriamiadantsoa@coface.com

    MEDIA RELATIONS
    Saphia Gaouaoui: +33 1 49 02 14 91 – saphia.gaouaoui@coface.com
    Adrien Billet: +33 1 49 02 23 63 – adrien.billet@coface.com

    FINANCIAL CALENDAR 2025
    (subject to change)
    9M-2025 results: 3 November 2025, after market close

    FINANCIAL INFORMATION
    This press release, as well as all of COFACE SA’s regulated information, can be found on the Group’s website: https://www.coface.com/investors

    For regulated information on Alternative Performance Indicators (APMs), please refer to our Interim Financial Report for H1-2025 and our 2024 Universal Registration Document (see 3.7 “Key financial performance indicators”).

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

    COFACE: FOR TRADE
    As a global leading player in trade credit risk management for almost 80 years, Coface helps companies grow and navigate in an uncertain and volatile environment.
    Whatever their size, location or sector, Coface provides 100,000 clients across some 200 markets. with a full range of solutions: Trade Credit Insurance, Business Information, Debt Collection, Single Risk insurance, Surety Bonds, Factoring.
    Every day, Coface leverages its unique expertise and cutting-edge technology to make trade happen, in both domestic and export markets.
    In 2024, Coface employed +5,200 people and recorded a turnover of ~€1.845 billion.

    www.coface.com

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

    DISCLAIMER – Certain statements in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and they may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these statements. Please refer to chapter 5 “Main risk factors and their management within the Group” of the Coface Group’s 2024 Universal Registration Document filed with AMF on 3 April 2025 under the number D.25-0227 to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group’s businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts or to provide new information on future events or any other circumstance.

    1 RoATE = Return on average tangible equity.
    2 This estimated solvency ratio is a preliminary calculation made according to Coface’s interpretation of Solvency II regulations and using the Partial Internal Model. The final calculation may differ from this preliminary calculation. The estimated solvency ratio is not audited.
    3 Excluding scope effect.
    4 Book yield calculated on the average of the investment portfolio excluding non-consolidated investments.
    5 This estimated solvency ratio is a preliminary calculation made according to Coface’s interpretation of Solvency II regulations and using the Partial Internal Model. The final calculation may differ from this preliminary calculation. The estimated solvency ratio is not audited.

    Attachment

    The MIL Network –

  • MIL-OSI: 2025 second-quarter results Solid performance amid a volatile environment Annual Net Cash Flow objective reaffirmed

    Source: GlobeNewswire (MIL-OSI)

    Paris (France), July 31, 2025

    2025 second-quarter results
    Solid performance amid a volatile environment
    Annual Net Cash Flow objective reaffirmed

    • Segment revenue of $274m in Q2 2025, up +6% year-on-year, fueled by Geoscience (GEO) and Sensing & Monitoring (SMO)
    • Segment adjusted EBITDAs of $107m in Q2 2025 (+14% year-on-year) or 39% margin (c.+270 bps). Profitability increase mostly driven by: 1/ the end of vessel penalties at EDA in January 2025 and 2/ good progress on the restructuring plan at SMO
    • Net Cash Flow generation of $30m in Q2 2025
    • Bond maturity extended to October 2030 after end-March 2025 successful refinancing, $125m available RCF1
    • 2025 financial objectives reaffirmed

    Sophie Zurquiyah, Chair and CEO of Viridien: “Viridien delivered a solid performance in the second quarter of 2025. Despite a volatile environment, the Group demonstrated resilience, driven by its primary focus on offshore markets and on leading oil companies. Combined with ongoing internal performance improvements, this resulted in robust year-on-year growth in both segment revenue and margins. From a cash perspective, Viridien generated a solid $30 m in Net Cash Flow during the quarter, reinforcing our confidence in reaching our full-year target of $100 m. The combination of a healthy Geoscience backlog and expected licensing activity toward year-end supports our confidence in maintaining momentum on our deleveraging path.”

    (in millions of $)2 Q2 2025 Q2 2024 Change (%) H1 2025 H1 2024 Change (%)
    Segment figures            
    Revenue 274 258 +6% 575 532 +8%
    Adjusted EBITDAs 107 94 +14% 250 200 +25%
    IFRS figures            
    Revenue 234 317 -26% 492 566 -13%
    EBITDAs 68 150 -55% 167 230 -27%
    Operating Income 15 52 -72% 71 72 -1%
    Net Income 6 35 -83% -22 32 n.a.
    Net Cash Flow 30 -6 n.a. 10 24 -61%
    Net Debt 997 941 +6% 997 941 +6%

    KEY HIGHLIGHTS PER BUSINESS LINE3

    Data, Digital and Energy Transition (DDE)

    Segment revenue at $181 m in Q2 2025, up +3% year-on-year driven by Geoscience. New business opportunities are emerging in HPC, while low-carbon initiatives are slowing down due to delays in CCUS projects.

    Geoscience (GEO)

    • Revenue at $115 m (+10%)
    • Solid performance mostly driven by work performed in Latin America and Middle East
    • For the past few years, Viridien has seen growing demand for advanced, high-quality, high-end subsurface imaging, especially in the US Gulf, Middle East, North Africa, and South America

    Earth Data (EDA)

    • Revenue at $66 m (-8%), following a strong performance in the first quarter of 2025
    • New OBN projects started in Norway and the US Gulf

    Segment adjusted EBITDAs reached $101 m, up +6% year-on-year, with a margin increase of c.+160 basis points. This performance reflects improving margins in Earth Data, which now fully benefits from the end of the vessel capacity agreement. EDA Cash EBITDA breakeven over the period.

    Sensing and Monitoring (SMO)

    Segment revenue at $93 m in Q2 2025, a solid +14% increase year-on-year. Activity is mostly driven by the Land segment, with strong deliveries of nodal system in South America and cabled systems in the MENA region, in particular. The Marine segment remains subdued. In New Businesses, Infrastructure monitoring is showing double-digit growth, while our Marlin Offshore Logistics solution achieved encouraging initial commercial success, with a contract signed with ONGC.

    Segment adjusted EBITDAs stood at $13 m, more than double last year’s figure, reflecting both revenue growth and the gradual positive impact of ongoing restructuring actions. In margin terms, second-quarter EBITDA reached nearly 13.7%, representing a c.+620 bp improvement year-on-year.

    Segment adjusted Operating income at $7 m vs -$2m in Q2 2024.

    CONSOLIDATED IFRS FIGURES4

    Profit & Loss

    Consolidated IFRS revenue for the second quarter of 2025 came in at $234m, down -26% year-on-year. EBITDAs stood at $68m, down -55%.

    IFRS Net Income reaches $6m, vs $35m in the second quarter of 2024, after accounting for -$53 m of leases and D&A, -$27m net cost of financial debt, +$12m other financial income linked to the partial capitalization of refinancing operation costs and partly offset by forex impacts, and +$6m of deferred tax assets.

    (in millions of $) Q2 2025 Q2 2024 Change (%) H1 2025 H1 2024 Change (%)
    €/$ exchange rate  1.12 1.08     1.08 1.08   
    Revenue 234 317 -26% 492 566 -13%
    EBITDAs 68 150 -55% 167 230 -27%
    Operating income 15 52 -72% 71 72 -1%
    Equity from investment -1 0 n.a. -1 0 n.a.
    Net cost of financial debt -27 -25 +6% -52 -49 +6%
    Other financial income (loss) 12 -1 n.a. -34 -1 n.s.
    Income taxes 6 -8 n.a. -7 -6 +32%
    Net Income (loss) from continuing operations 5 19 -74% -24 16 n.a.
    Net Income (loss) from discontinued operations 1 16 -92% 2 16 -88%
    Consolidated Net Income (loss) 6 35 -83% -22 32 n.a.

    Cash Flow and Net debt

    Net Cash Flow of $10 m generated in the first half of 2025, including $30 m in the second quarter alone. A solid performance in light of the significant pressure on the Group’s working capital, caused by overdue receivables from Mexican National Oil Company PEMEX (c.$50 m as of June 30, 2025) and largely contributing to the negative -$46m change in working capital over the period.

    Also worth noting that Net Cash Flow in the first half of 2024 included a one-off positive inflow of $38 m, related to the settlement of a litigation with ONGC.

    (in millions of $) Q2 2025 Q2 2024 Change (%) H1 2025 H1 2024 Change (%)
    Segment EBITDAs 108 91 +19% 250 196 +28%
    Income Tax Paid -4 -9 -52% -8 -12 -31%
    Change in Working Capital & Provisions 1 -3 n.a. -46 -3 n.s.
    Other Cash Items -1 0 n.a. -1 0 n.a.
    Cash from Operating Activity 103 78 +32% 195 180 +8%
    Total Capex -58 -57 +1% -119 -115 +3%
    Acquisitions and Proceeds of Assets 1 0 n.a. 1 0 n.s.
    Cash from Investing Activity -56 -56 0% -118 -114 +3%
    Paid Cost of Debt -1 -45 -97% -40 -43 -8%
    Lease Repayment -16 -16 +5% -26 -27 -5%
    Cash from Financing Activity -18 -61 -71% -67 -71 -6%
    Discontinued Operations Acquisitions 0 33 -100% 0 30 -100%
    Net Cash Flow 30 -6 n.a. 10 24 -60%

    Bond maturity significantly extended to October 2030 following the successful refinancing at end-March 2025.
    Ample liquidity in place, including a $125m RCF5.

    (in millions of $) June 30, 2025 Dec. 31, 2024 Change (%) June 30, 2024 Change (%)
    Liquidity 262 392 -33% 430 -39%
    Cash 162 302 -46% 340 -52%
    Undrawn RCF 100 90 +11% 90 +11%
    Gross Debt 1,158 1,223 -5% 1,281 -10%
    Bonds 9876 1,049 -6% 1,126 -12%
    Other borrowings 31 31 -1% 32 -3%
    Accrued interests 25 18 +33% 20 +24%
    Lease liabilities 116 125 -7% 103 +12%
    Net Debt 997 921 +8% 941 +6%

    OUTLOOK

    The oil price environment has remained volatile in recent months but consistently above the $60/bbl threshold, generally considered an industry equilibrium level. In this context, Oil & Gas companies have maintained most of their exploration and development commitments, particularly in Viridien’s core segments.

    Assuming no major disruption to the current environment, Viridien reaffirms its confidence in generating around $100m in Net Cash Flow for 2025, supported by:

    • Geoscience growth, driven by industry-leading technology and a strong backlog;
    • Earth Data late sales, expected to benefit from upcoming lease rounds, combined with disciplined new multi-client engagements;
    • Sensing & Monitoring, fueled by broad land activity.

    ***

    Q2 2025 conference call details

    The press release and presentation will be made available on www.viridiengroup.com at 5:45 p.m. (CET).

    An English-language conference call is scheduled today at 6:00 p.m. (CET).

    Participants must register for the conference call by clicking here to receive a dial-in number and PIN code. Participants may also join the live webcast by clicking here.

    A replay of the conference call will be available starting the following day, for a period of 12 months, in audio format on the Company’s website www.viridiengroup.com.

    Status of the statutory auditors’ procedures

    The Board of Directors met on July 31, 2025, and closed the consolidated financial statements as of June 30, 2025. Limited review procedures were completed, and an unqualified opinion has been issued by the statutory auditors.

    Next financial information

    2025 third-quarter results: October 30, 2025 (after market close)

    About Viridien

    Viridien (www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resources, digital, energy transition and infrastructure challenges. Viridien employs around 3,200 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN: FR001400PVN6).

    Disclaimer

    Certain information included in this press release is not historical data but forward-looking statements. These forward-looking statements are based on current beliefs and assumptions, including, but not limited to, assumptions about current and future business strategies and the environment in which Viridien operates, and involve known and unknown risks, uncertainties and other factors, which may cause actual results or performance, or the results or other events, to be materially different from those expressed or implied in such forward-looking statements. These risks and uncertainties include those discussed or identified in Chapter 2 “Risk Management and Internal Control” of the Universal Registration Document dated March 6, 2025, filed with the French Financial Markets Authority (AMF) under number D. 25-0075 and available on the Group’s website (www.viridiengroup.com) and on the AMF website (www.amffrance.org). These forward-looking statements and information are not guarantees of future performance. Forward-looking statements speak only as of the date of this press release. This press release does not contain or constitute an offer of securities or an invitation or inducement to invest in securities in France, the United States, or any other area.

    Investors contact

    VP Investor Relations and Corporate Finance
    Alexandre Leroy
    alexandre.leroy@viridiengroup.com
    +33 6 85 18 44 31

    APPENDICES

    Quarterly statements are unaudited and not subject to any review. Only IFRS condensed interim consolidated financial statements were subject to a review report by statutory auditors.

    Key Segment P&L figures

    (in millions of $) Q2 2025 Q2 2024 Change (%) H1 2025 H1 2024 Change (%)
    €/$ exchange rate  1.12 1.08     1.08 1.08   
    Segment Revenue 274 258 +6% 575 532 +8%
    DDE 181 177 +3% 396 362 +9%
    Geoscience 115 105 +10% 226 193 +17%
    Earth Data 66 72 -8% 170 169 +1%
    SMO 93 82 +14% 180 170 +6%
    Land 57 29 +99% 108 74 +47%
    Marine 21 42 -50% 46 75 -39%
    Other 15 11 +36% 26 21 +20%
    Segment EBITDAs 108 91 +19% 250 196 +28%
    Adjusted Segment EBITDAs 107 94 +14% 250 200 +25%
    DDE 101 96 +6% 238 199 +19%
    SMO 13 6 +108% 27 16 +63%
    Corporate and other -7 -8 -15% -15 -16 -8%
    Segment Operating Income 22 26 -16% 87 53 +63%
    Adjusted Segment Operating Income 21 29 -28% 86 57 +50%
    DDE 21 39 -47% 87 74 +17%
    SMO 7 -2 n.a. 15 0 n.s.
    Corporate and other -7 -8 -16% -16 -17 -6%
    EDA Cash EBITDA 0 10 -100% 39 44 -11%

    Other KPIs

    (in millions of $) H1 2025 H1 2024 Change (%)
    Geoscience Backlog 317 246 +29%
    Total Capex 119 115 +3%
    Earth Data Library Net Book Value7 508  440 +15%

    Definition of Alternative Performance Indicators (API)

    In its communications, Viridien includes Alternative Performance Indicators, the main ones being Segment Revenue, Segment EBITDAs, Adjusted Segment EBITDAs, and EDA Cash EBITDA. Their definitions are set out in the 2024 Universal Registration Document filed with the French Financial Markets Authority (AMF) and are reiterated below:

    • Segment revenue: Segment revenue is prepared in accordance with internal management reporting with Earth Data prefunding revenues recorded based upon percentage of completion.
    • Segment EBITDAs: Segment EBITDAs is defined as earnings before interest, tax, income from equity affiliates, depreciation, amortization net of amortization costs capitalized to Earth Data surveys, and cost of share-based compensation for employees and senior executives. The cost of share-based compensation includes the cost of stock options and allotments of performance shares. Segment EBITDAs is calculated based on internal management reporting, in which prefunding revenue from Earth Data surveys is recognized using the percentage of completion method.
    • Adjusted segment EBITDAs: Adjusted segment EBITDAs is Segment EBITDAs adjusted for non-recurring charges and gains.
    • EDA Cash EBITDA: EDA Cash EBITDA is defined as EDA (Earth Data) adjusted segment EBITDAs less investment in EDA surveys for the period, excluding inactivity compensation fees related to the vessel capacity agreement signed between Viridien and Shearwater. This indicator is used exclusively for the EDA activity.

    Reconciliation of API with the condensed interim consolidated financial statements

    The table below outlines the accounting adjustments made in accordance with IFRS 158 requirements. Over the period, these adjustments primarily relate to major survey projects conducted by Earth Data in the US Gulf and Norway.

      Q2 2025 H1 2025
    (in millions of $) Segment IFRS 15 adjustments IFRS Segment IFRS 15 adjustments IFRS
    Revenue 274 -40 234 575 -83 492
    EBITDAs 108 -40 68 250 -83 167
    Adjustments -1     0    
    Adjusted EBITDAs 107 -40 67 250 -83 167

    Interim Consolidated Statement of Operations

    (In millions of US$, except per share data) H1 2025 H1 2024
    Operating revenues 491.8 565.8
    Other income from ordinary activities 0.1 0.1
    Total income from ordinary activities 492.0 565.9
    Cost of operations (361.0) (424.1)
    Gross profit 131.0 141.8
    Research and development expenses – net (6.8) (9.6)
    Marketing and selling expenses (16.4) (19.0)
    General and administrative expenses (37.7) (38.0)
    Other revenues (expenses) – net 1.0 (3.6)
    Operating Income (loss) 71.2 71.6
    Cost of financial debt – gross (55.2) (55.1)
    Income from cash and cash equivalents 2.9 5.8
    Cost of financial debt – net (52.3) (49.3)
    Other financial income (loss) (34.4) (0.8)
    Income (loss) before income taxes and share of income (loss) from companies accounted for under the equity method (15.4) 21.5
    Income taxes (7.4) (5.6)
    Income (loss) before share of income (loss) from companies accounted for under the equity method (22.8) 15.9
    Net income (loss) from companies accounted for under the equity method (1.0) 0.0
    Net income (loss) from continuing operations (23.8) 15.9
    Net income (loss) from discontinued operations 1.9 16.1
    Consolidated net income (loss) (21.9) 32.0
    Attributable to:    
    Owners of Viridien SA (22.3) 31.6
    Non-controlling interests 0.4 0.4
    Net income (loss) per share9    
    Basic (3.12) 4.43
    Diluted (3.12) 4.41
    Net income (loss) from continuing operations per share8    
    Basic (3.38) 2.17
    Diluted (3.38) 2.16
    Net income (loss) from discontinued operations per share8    
    Basic 0.26 2.25
    Diluted 0.26 2.25

    Interim Consolidated Statement of Financial Position

    (In millions of US$) June 30, 2025 Dec. 31, 2024
    ASSETS    
    Cash and cash equivalents 161.6 301.7
    Trade accounts and notes receivable, net 330.7 339.9
    Inventories and work-in-progress, net 162.1 163.3
    Income tax assets 10.2 22.9
    Other current assets, net 78.8 74.0
    Assets held for sale, net 28.3 24.5
    Total current assets 771.7 926.2
    Deferred tax assets 47.2 43.6
    Other non-current assets, net 9.1 8.9
    Investments and other financial assets, net 24.7 25.7
    Investments in companies under the equity method 5.1 1.1
    Property, plant and equipment, net 205.3 220.6
    Intangible assets, net 589.3 535.4
    Goodwill, net 1,092.8 1,082.8
    Total non-current assets 1,973.5 1,918.1
    TOTAL ASSETS 2,745.2 2,844.3
    LIABILITIES AND EQUITY    
    Financial debt – current portion 63.1 56.9
    Trade accounts and notes payables 113.6 120.9
    Accrued payroll costs 82.5 84.5
    Income taxes payable 12.1 20.4
    Advance billings to customers 20.8 19.2
    Provisions — current portion 17.1 19.7
    Other current financial liabilities 0.0 0.5
    Other current liabilities 218.5 182.5
    Liabilities associated with non-current assets held for sale 2.3 2.4
    Total current liabilities 530.0 507.0
    Deferred tax liabilities 13.2 18.4
    Provisions – non-current portion 33.1 28.8
    Financial debt – non-current portion 1,095.3 1,165.6
    Other non-current financial liabilities 0.0 0.0
    Other non-current liabilities 1.9 1.7
    Total non-current liabilities 1,143.5 1,214.5
    Common stock: 11,201,879 shares authorized and 7,180,449 shares with a nominal value of €1.00 outstanding at June 30, 2025. 8.7 8.7
    Additional paid-in capital 118.7 118.7
    Retained earnings 1,014.7 1,036.5
    Other Reserves (0.9) 55.2
    Treasury shares (20.1) (20.1)
    Cumulative income and expense recognized directly in equity (1.7) (1.1)
    Cumulative translation adjustment (85.0) (113.3)
    Equity attributable to owners of Viridien S.A. 1,034.5 1,084.7
    Non-controlling interests 37.2 38.1
    Total equity 1,071.8 1,122.8
    TOTAL LIABILITIES AND EQUITY 2,745.2 2,844.3

    Interim Consolidated Statement of Cash Flows

    (In millions of US$)   H1 2025 H1 2024
    OPERATING ACTIVITIES      
    Consolidated net income (loss)   (21.9) 32.0
    Less: Net income (loss) from discontinued operations   (1.9) (16.1)
    Net income (loss) from continuing operations   (23.8) 15.9
    Depreciation, amortization and impairment   42.6 47.8
    Earth Data surveys impairment and amortization   59.0 116.3
    Depreciation and amortization capitalized in Earth Data surveys   (7.5) (7.0)
    Variance on provisions   (3.6) (0.3)
    Share-based compensation expenses   1.7 1.8
    Net (gain) loss on disposal of fixed and financial assets   (0.8) 0.1
    Share of (income) loss in companies recognized under equity method   1.0 –
    Other non-cash items   30.0 0.8
    Net cash-flow including net cost of financial debt and income tax   98.5 175.4
    Less: Cost of financial debt   52.3 49.3
    Less: Income tax expense (gain)   7.4 5.6
    Net cash-flow excluding net cost of financial debt and income tax   158.1 230.4
    Income tax paid   (8.3) (12.0)
    Net cash-flow before changes in working capital   149.8 218.4
    Changes in working capital   45.0 (38.2)
    – change in trade accounts and notes receivable   51.0 (17.2)
    – change in inventories and work-in-progress   16.8 11.0
    – change in other current assets   (6.7) 0.9
    – change in trade accounts and notes payable   (3.8) (12.5)
    – change in other current liabilities   (12.3) (20.3)
    Net cash-flow from operating activities   194.8 180.2
           
    INVESTING ACTIVITIES      
    Total capital expenditures (including variation of fixed assets suppliers, excluding Earth Data surveys)   (17.2) (17.8)
    Investment in Earth Data surveys, net cash   (101.6) (97.0)
    Proceeds from disposals of tangible and intangible assets   1.0 0.5
    Dividends received from investments in companies under the equity method   – 0.5
    Variation in other non-current financial assets   2.0 (3.3)
    Net cash-flow from investing activities   (115.7) (117.0)
    FINANCING ACTIVITIES      
    Repayment of long-term debt   (1,074.5) (0.4)
    Total issuance of long-term debt   945.7 –
    Call premium   (21.9) –
    Refinancing transaction costs paid   (3.7)  –
    Lease repayments   (26.1) (27.1)
    Interests paid   (40.4) (43.2)
    Dividends paid and share capital reimbursements:      
    – to owners of Viridien   0 –
    – to non-controlling interests of integrated companies   (1.4) (3.8)
    Net cash-flow from financing activities   (222.4) (74.5)
           
    Effects of exchange rates on cash   3.7 (5.3)
    Net cash flows incurred by discontinued operations   (0.4) 29.6
    Net increase (decrease) in cash and cash equivalents   (140.1) 12.9
    Cash and cash equivalents at beginning of year   301.7 327.0
    Cash and cash equivalents at end of period   161.6 339.9

    1 $125m RCF of which $25m ancillary guarantee facility (used for $12 m) and $100m fully undrawn
    2 Quarterly statements are unaudited and not subject to any review. Only IFRS condensed interim consolidated financial statements were subject to a review report by statutory auditors
    3 Please refer to the “Definitions of Alternative Performance Indicators” in the appendices for explanations of the terms used in this section
    4 The reconciliation of alternative performance indicators to the condensed interim consolidated financial statements is provided in the appendices, along with their definitions
    5 $125m RCF of which $25m ancillary guarantee facility (used for $12 m) and $100m fully undrawn
    6 Including a $66m negative foreign exchange impact compared to December 31, 2024
    7 Post IFRS15 and 16

    8 IFRS 15 requires that Earth Data prefunding revenues be recognized only upon delivery of the final processed data, that is, when the performance obligation is fulfilled. As a result, revenue and margin recognition for ongoing surveys is deferred. Viridien’s segment reporting, however, continues to apply the percentage-of-completion method previously used before the adoption of IFRS 15, for recognizing Earth Data prefunding revenues and associated margins
    9 As a result of the July 31, 2024 reverse share split, the calculation of basic and diluted earnings per shares for June 2024 has been adjusted retrospectively. Number of ordinary shares outstanding has been adjusted to reflect the proportionate change in the number of shares

    Attachment

    The MIL Network –

  • MIL-OSI USA: Rep. Pettersen Meets With Providers & Administrators at Planned Parenthood Arvada Health Center Following Trump’s Effort to Ban Medicaid-Covered Planned Parenthood Treatments

    Source: United States House of Representatives – Representative Brittany Pettersen (Colorado 7th District)

    SEE PICTURES FROM TUESDAYS EVENT

    LAKEWOOD – U.S. Representative Brittany Pettersen (CO-07) visited the Planned Parenthood of the Rocky Mountain’s (PPRM) Arvada clinic to hear from providers and administrators about the impacts of Trump’s ban on Medicaid coverage for care at Planned Parenthood. The ban was part of Trump’s One Big Beautiful Bill Act, which specifically prohibited Medicaid recipients from using Planned Parenthood for their health care. PPRM therefore had to immediately notify around 15,000 patients, around 25% of their patient base, that they could no longer be treated at Planned Parenthood facilities, and were unable to offer an alternative for care. But on Monday, a federal judge ruled the federal government must allow Medicaid to reimburse Planned Parenthood for patient care.

    During the visit, Pettersen met with providers and administrators to discuss the real consequences of these changes, specifically, how individuals depend on these clinics for more than just reproductive services, and how these increased barriers, especially for rural and low-income individuals, could cause harm when they have access to few alternatives. In the first week alone, this local clinic had to notify 100 patients that they were unable to see them for their appointments that week. For many patients, Planned Parenthood is the only place they’ve ever known for getting the care they need. Pettersen also heard firsthand about the struggles PPRM has experienced with the chaotic implementation and judicial process around this ban. The Arvada clinic has 13 employees and the need for an additional provider, but the situation has created a difficult climate for hiring.

    “Trump not only handpicked the radical Supreme Court justices who voted to overturn Roe vs Wade, he has also stripped coverage for reproductive healthcare away for patients who rely on Medicaid through his “big ugly bill.”  Like so many women, I relied on Planned Parenthood for access to health care when I was uninsured. In many places, Planned Parenthood is the only option people have to access care and Donald Trump and the Republicans are leaving millions of Americans with nowhere to turn” said Rep. Pettersen.  “As a mom, I know there isn’t anything more personal than deciding if you want to start a family and nobody should make that decision for you, especially Donald Trump. I’m outraged by his cruelty and the impacts this will have on women for years to come. Women and Americans deserve so much better than this.”

    “This law was designed to punish people on Medicaid who rely on Planned Parenthood for life-saving reproductive and sexual health care. It’s a cruel and calculated attack on health equity, and it’s having real, devastating consequences for our patients across Colorado.  In just the first nine days after the law took effect, nearly 1,000 patients across our region were denied essential care. These are people who couldn’t pick up their birth control, missed time-sensitive abortion care services, or were turned away from cancer screenings and STI treatment. These aren’t just numbers—they’re our neighbors, our friends, and our family members. Republicans in Congress who voted for this heinous bill should be ashamed of themselves” said Adrienne Mansanares, President and CEO of Planned Parenthood of the Rocky Mountains. 

    Planned Parenthood is the nation’s largest abortion care provider, but they also provide basic care, including annual screenings, birth control, and other gynecological care. Each year, Planned Parenthood of the Rocky Mountains serves nearly 100,000 people at their 23 health centers in Colorado, New Mexico, and Wyoming. Planned Parenthood estimates that 1 in 5 women have relied on Planned Parenthood for care at some point in their lives.

    ###

    MIL OSI USA News –

  • 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 –

  • 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 –

  • MIL-OSI USA: Committee Advances Multiple Bipartisan Hassan Bills, Including Bill to Strengthen Security at the Northern Border

    US Senate News:

    Source: United States Senator for New Hampshire Maggie Hassan

    WASHINGTON – The Senate Homeland Security and Governmental Affairs Committee voted yesterday to advance multiple bipartisan bills introduced and led by U.S. Senator Maggie Hassan (D-NH), including a bill to strengthen security at the Northern Border, a bill to improve the federal response to terrorist acts, and a bill to reduce government waste.

    “Our government’s number one job is to keep people safe. The bipartisan bills that advanced yesterday represent commonsense ways that Congress can protect our national security and safeguard taxpayer dollars,” said Senator Hassan. “I will continue to stand up for Granite Staters and measures that keep our country safe, secure, and free.”

    Measures that advanced from the Homeland Security Committee included:

    • The Northern Border Security Enhancement and Review Act, introduced by Senators Hassan and Cramer (R-ND), which requires the Department of Homeland Security to regularly complete a new Northern Border Threat Analysis and update its Northern Border Strategy
    • The Reporting Efficiently to Proper Officials in Response to Terrorism (REPORT) Act, introduced by Senators Hassan and Lee (R-UT), which requires executive branch agencies to provide a report to Congress within a year of concluding a terrorist attack investigation, including any recommendations to improve national security and prevent any future attacks
    • The Billion Dollar Boondoggle Act, led by Senators Ernst (R-IA) and Hassan, which requires federal agencies to publicly report on projects that are more than five years behind schedule or cost more than $1 billion over their original estimate
    • The Disclosing Foreign Influence in Lobbying Act, introduced by Senators Grassley (R-IA) and Peters (D-MI) and co-sponsored by Senator Hassan, which closes a loophole that foreign governments, including the Chinese government, have used to conceal their role in lobbying efforts
    • The Ending Improper Payments to Deceased People Act, introduced by Senators Kennedy (R-LA) and Peters (D-MI) and co-sponsored by Senator Hassan, which requires agencies to share death certificate information across the federal government to help prevent Social Security and other payments from going to people who have passed away

    MIL OSI USA News –

  • MIL-OSI USA: Warner Applauds Committee Approval of Bipartisan Bill to Extend Life-Saving Veteran Suicide Prevention Program

    US Senate News:

    Source: United States Senator for Commonwealth of Virginia Mark R Warner

    WASHINGTON – U.S. Sen. Mark R. Warner (D-VA) today applauded the Senate Veterans’ Affairs Committee for advancing legislation to renew and expand the Staff Sergeant Parker Gordon Fox Suicide Prevention Grant program – a community-based mental health initiative Warner co-authored with Sen. John Boozman (R-AR) that is set to expire this year without congressional action.

    “This program was born out of a simple but urgent idea: that we need to meet veterans where they are, in their communities, with the support and services that could save their lives,” said Sen. Warner. “I’m proud to see this grant program making a difference across the country, including here in Virginia, and glad that we’re one step closer to making sure it doesn’t lapse at the end of the year.”

    Suicide is the 12th-leading cause of death for veterans, and the 2nd-leading cause for veterans under 45. Over 131,000 veterans have died by suicide since 2001, with veterans being 72% more likely than the civilian population to die by suicide. Since its original passage in 2021, the Fox Grant Program has worked to end this crisis by distributing hundreds of millions in funding to organizations that provide critical, frontline mental health services to veterans. In 2024 alone, Virginia organizations received $4.5 million from these grants. The program honors Veteran Parker Gordon Fox, a veteran and former sniper instructor at the U.S. Army Infantry School at Ft. Benning, GA. SSG Fox died by suicide on July 21, 2020 at the age of 25. 

    The legislation advanced in committee on Wednesday would reauthorize the program before it expires on September 30 and expand its reach to ensure more veterans can access support where they live.

    “Veteran suicide is a national emergency,” Sen. Warner added. “We have a responsibility to keep pushing for solutions that work. This program is one of them, and I look forward to seeing it expanded under the law.”

    The bill now heads to the full Senate for consideration.

    MIL OSI USA News –

  • 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 –

  • MIL-OSI: Applied Releases Commercial Lines Premium Rate Index Findings for Q2 2025

    Source: GlobeNewswire (MIL-OSI)

    Toronto, ON, July 31, 2025 (GLOBE NEWSWIRE) — Applied Systems® today announced the second quarter 2025 results of the Applied Commercial Index™, the Canadian insurance industry’s premium rate index. Overall, the magnitude of rate increases was down across all lines relative to average premium renewals in the same quarter last year with 3.63% in Q2 2025 down from 5.83% in Q2 2024. All lines of business saw decreases compared to the same quarter last year.
    Quarter over quarter, Q2 2025 results showed average renewal rate change decreased across many lines of the most commonly placed Commercial Lines categories, including Real Estate Property, Business and Professional Services, and Construction. Hospitality Services and Retail Services experienced an increase in average renewal rate change.
    Significant findings include:

    • Business and Professional Services: Q2 2025 premium renewal rate change average was 3.00%, down from the Q1 2025 average of 3.99%.
    • Construction, Erection, and Installation Services: Premium renewal rate change average was 3.56% for the quarter, down from the Q1 2025 average of 3.85%.
    • Hospitality Services: Q2 2025 premium renewal rate change average was 4.53%, up from the Q1 2025 average of 3.08%.
    • Real Estate Property: Premium renewal rate change average was 3.38% for the quarter, down from the Q1 2025 average of 3.58%.
    • Retail Services: Premium renewal rate change averaged 4.62%, up from the Q1 2025 average of 4.57%.

    “This quarter’s average premium renewal rate change continues to decrease across the most commonly placed commercial lines of business, except Hospitality Services which saw a spike,” said Steve Whitelaw, SVP and general manager, Canada, Applied Systems. “As we make our way into the second of the year, the Applied Commercial Index will shine light on how current macro trends such as US tariffs and others will affect rates.”
    Access the complete quarterly report here.                                                            

    # # #

    Applied Commercial Index is a trademark of Applied Systems, Inc. All data is fully anonymized when aggregating and analyzing the Applied Commercial Index.

    About Applied Systems
    Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognized as a pioneer in insurance automation and the innovation leader, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, the Republic of Ireland, and the United Kingdom. By automating the insurance lifecycle, Applied’s people and products enable millions of people around the world to safeguard and protect what matters most.

    The MIL Network –

  • MIL-OSI: Austin Proptech Startup Rent with Clara Announces Launch of “Trust Layer” for the Rental Market

    Source: GlobeNewswire (MIL-OSI)

    Austin, Texas, July 31, 2025 (GLOBE NEWSWIRE) — Rent with Clara, a Proptech platform developed by Clara Technologies, announced today a major rebrand and product repositioning aimed at combating rental fraud through a new infrastructure model it calls the “Trust Layer for the Rental Economy.” The company, accessible at https://www.rentwithclara.com, is introducing the Clara Rental Passport—a renter-controlled “Trust Layer” that combats fraud and accelerates secure, compliant rental applications for both renters and landlords.

    Rent with Clara – Tenant Screening Software

    Founded by real estate expert and tech entrepreneur Taylor Wilson, the platform combines rigorous verification technology with a mission-driven approach rooted in the founder’s own experience as a renter, landlord, and agent. Wilson’s firsthand exposure to the “inequities and inefficiencies” of the rental process inspired the creation of a platform that serves all sides of the transaction fairly—while delivering enterprise-grade fraud prevention for independent landlords and brokers alike.

    “We’re not trying to be the next listing site or property manager-in-a-box,” said Wilson. “This is about infrastructure. Just like Stripe did for payments and Plaid for banking data, Clara is building trust for rentals, fast, secure, and legally compliant.” – Taylor Wilson

    From Renter Frustration to Founder’s Vision

    The idea was born out of Wilson’s frustration navigating rental applications from all sides, first as a renter, then as a listing manager, and finally as an independent landlord. That trifecta gave her unique visibility into how broken the process was: from fraud-prone documents to invisible bias, and a complete lack of standardized, renter-controlled data.

    What emerged is the Clara Rental Passport: a reusable, renter-controlled profile that securely stores verified identity, income, rental history, and more. With one click, applicants can share it with any participating landlord. Meanwhile, landlords receive fully verified reports, delivered in minutes, without the risk of forged pay stubs or liability from non-compliant screening processes.

    An Anti-Fraud Platform Backed by FinTech DNA

    Under the hood, Clara leans on a powerful tech stack:

    • Argyle: real-time income and employment verification directly from payroll systems
    • Veriff: identity validation and secure data transfer
    • TransUnion: standardized credit and criminal background data

    “Fake pay stubs are a billion-dollar problem, and they’re shockingly easy to make,” Wilson said. “With Clara, landlords never have to look at a PDF again.” 

    – Taylor Wilson

    Clara’s compliance-first design is also built for scale, with compliance and transparency baked into every screening flow.

    Business Model Designed for Network Effects

    Unlike most screening platforms, Clara is free for landlords and agents. Renters pay a one-time $49 fee, which can be reused across multiple applications. That go-to-market strategy removes adoption friction and builds a virtuous network: the more landlords accept Clara, the more valuable the passport becomes.

    The company is currently bootstrapped, but Wilson confirmed that Clara Technologies is in early discussions with strategic investors as it ramps platform adoption across Texas and beyond.

    A look inside the application as a Landlord

    About Rent with Clara

    Rent with Clara is a PropTech platform that brings trust, speed, and security to the rental process through fraud-proof tenant screening and renter-controlled data. Built by Clara Technologies in Austin, TX, the platform is designed to serve landlords, agents, and renters with verified information they can rely on—without the friction of outdated paperwork or opaque decision-making. 

    Press inquiries

    Rent with Clara
    https://rentwithclara.com
    Gelo Amonelo
    gelo@rentwithclara.com
    Austin, Texas USA

    The MIL Network –

  • 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 –

  • MIL-OSI USA: North Dakota Development Fund Approves $2.16M in Loans for Child Care, Tech and Ag Projects in Q2

    Source: US State of North Dakota

    The North Dakota Department of Commerce announced today that six companies were approved for a total of $2.16 million in loan funds through the North Dakota Development Fund, Inc. (NDDF) during the second quarter of 2025.

    “These investments reflect our commitment to economic growth and meeting community needs across North Dakota,” said Commerce Economic Development & Finance Deputy Director and Head of Investments and Innovation Shayden Akason. “We’re proud to support businesses that are expanding access to child care – an essential service that enables parents to remain in the workforce and strengthens the state’s economic resilience.”

    Loan highlights:

    • Discovery Properties LLC, Mandan – $805,000 to purchase and renovate a building for a new child care facility.
    • Reser LLC dba The Learning Tree, Minot – $100,000 to expand and remodel its existing facility.
    • Transcend Childcare Center, Fargo – $100,000 to acquire an existing child care facility.
    • OmniByte Technology Inc., Fargo – in working capital support.
    • Peace Academy Inc., Fargo – $450,000 to remodel a building and expand child care operations.
    • Dakota Valley Growers, Bathgate – $455,000 to construct a compost facility for its feedlot.

    From East to the West, the NDDF is powering progress – backing projects in Bathgate, Fargo, Minot, and Mandan. Whether it is value-added agriculture, child care, or technology, the NDDF helps bridge regions and industries to build a stronger, more resilient North Dakota

    Established in 1991, the NDDF provides flexible financing for new or expanding businesses. The fund also manages the Child Care Loan Program, which supports providers addressing critical workforce needs.

    For more information about the Development Fund, visit belegendary.link/North-Dakota-Development-Fund.

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Young Kim Receives Inaugural “Champion of Korean War Veterans and Peace on the Peninsula” Award 

    Source: United States House of Representatives – Representative Young Kim (CA-39)

    Washington, DC – Last week, the Korean American Grassroots Coalition (KAGC) presented U.S. Representative Young Kim (CA-40) with the inaugural “Champion of Korean War Veterans and Peace on the Peninsula” Award at the 18th Annual 727 Armistice Day Commemoration on Capitol Hill, which brought together over 300 distinguished guests, including Korean War veterans and their families, community leaders, and youth performers. 

    The award recognizes Rep. Kim’s steadfast advocacy for Korean War veterans and her leadership in strengthening the U.S.-Korea alliance. Rep. Mark Takano (CA-39) also received the award. 

    “As a Korean immigrant and Chairwoman of the House Foreign Affairs Subcommittee on East Asia and the Pacific, I know I would not be here today without our Korean War veterans. I am deeply committed to ensuring they receive the recognition they deserve. The strong U.S.-Korea alliance we enjoy today exists because of their service and sacrifice,” said Rep. Young Kim. “Freedom is not free and can never be taken for granted. I thank KAGC for the recognition as we mark 72 years of the U.S-ROK alliance.” 

    MIL OSI USA News –

  • MIL-OSI USA: Explosive Ernst Report Exposes Government Boondoggles $160 Billion Over Budget

    US Senate News:

    Source: United States Senator Joni Ernst (R-IA)

    WASHINGTON – After her years of advocacy led to the defunding of the California Crazy Train, U.S. Senator Joni Ernst (R-Iowa) is releasing an explosive new report exposing other taxpayer-funded projects that are billions of dollars over budget or more than five years behind schedule.
    Her report details how the worst boondoggles have racked up a combined $162.9 billion in cost overruns from their original projections.
    “Slamming the brakes on the California Crazy Train – that I fought for years to defund – was a strong start, but there is a lot more work to do,” said Ernst. “The boondoggles I am exposing are collectively $160 billion over budget and need to be brought to a squealing halt. When a government project goes off the rails, the public deserves to know. My bipartisan Billion Dollar Boondoggles Act ensures that all future boondoggles like these are publicized.”
    “If you’re receiving taxpayer dollars, you should expect to be held accountable by the American people,” said U.S. Department of Transportation Secretary Sean P. Duffy. “No more boondoggles! Thank you, Senator Ernst, for your leadership in Congress to ensure federal dollars are being used effectively and efficiently.”
    Some of the worst boondoggles other than the California Crazy Train uncovered by Ernst include:

    The Department of Veterans Affairs electronic health record system upgrade that has tripled in cost from an initial $16.1 billion price tag to $49.8 billion.

    Additionally, flaws with the new system may have contributed to the deaths of several veterans and caused harm to others.

    The Bay Area Rail Transit Extension – that Nancy Pelosi tried to sneak funding for into a COVID relief bill – has ballooned in costs from $4.7 billion to $12.8 billion.

    At nearly $2 billion per mile, it’s been labeled “the worst new transit project in the U.S.”

    The National Aeronautics and Space Administration’s (NASA) Artemis moon mission launch booster and engine contracts that have already run $6 billion over budget.

    The real budget is a blackhole because “NASA hasn’t established an official cost estimate.”

    Read Ernst’s full report, “Off the Rails, the Billion Dollar Boondoggles Taking Taxpayers for a Ride,” here.
    Background:
    Ernst has long led the fight calling out government boondoggles, including the California High-Speed Rail, that are billions over budget and years behind schedule.
    In 2022, Ernst successfully inserted a provision into the Inflation Reduction Act requiring the Department of Transportation (DOT) to keep track of projects paid for by taxpayers that are a billion dollars over budget or behind schedule. After the Biden administration refused to enact the provision in the Inflation Reduction Act, Ernst continued her efforts and pushed for her Billion Dollar Boondoggle Act in 2023 to expose these government projects.
    In April 2025, Ernst asked the Trump administration to provide a list of billion dollar boondoggle projects funded by DOT that are either over budget or behind schedule. DOT Secretary Sean Duffy ended the Biden administration’s years of stonewalling and worked to get the data to Ernst.
    Ernst’s Billion Dollar Boondoggle Act advanced out of the Homeland Security and Governmental Affairs Committee this week. The bill would replicate this report across all of government to further expose wasteful projects sucking up tax dollars.

    MIL OSI USA News –

  • 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 –

  • 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 –

  • MIL-OSI USA: Ezell, Kiggans, Malliotakis Introduce Port Crane Tax Credit of 2025 to Boost National Security and Domestic Manufacturing

    Source: United States House of Representatives – Congressman Mike Ezell (Mississippi 4th District)

    U.S. Representatives Mike Ezell (MS-04), Jen Kiggans (VA-02), and Nicole Malliotakis (NY-11) introduced the Port Crane Tax Credit of 2025, legislation to amend the Internal Revenue Code of 1986 to establish tax credits that incentivize the domestic production of port cranes, a critical step toward strengthening U.S. supply chain security and revitalizing American manufacturing.

    The bill comes in response to growing bipartisan concerns over foreign-made port infrastructure—particularly cranes manufactured in adversarial nations—being installed at key U.S. shipping terminals. The proposed tax credit would reduce the financial burden for companies investing in American-made cranes and components, encouraging domestic production and reducing U.S. reliance on foreign suppliers for critical port equipment.

    “Our ports are essential to our economy—and our national security,” Ezell said. “They serve as the gateways for trade, driving billions of dollars in commerce and supporting millions of jobs across the country. But more than that, they are critical infrastructure, and their vulnerability can pose real risks to our national safety. From cybersecurity threats to supply chain disruptions, foreign control over critical components—like ship-to-shore cranes—creates unacceptable exposure to espionage, sabotage, and logistical choke points. The Port Crane Tax Credit of 2025 is about putting American workers and American safety first. It will incentivize the production and deployment of domestically manufactured cranes, reduce our dependence on adversarial nations, and stimulate investment in American manufacturing and innovation. This isn’t just an economic policy—it’s a national security imperative. I’m proud to introduce this legislation to strengthen our ports, empower our workforce, and reinforce the foundation of American resilience.”

    “Port security is vital, not just to our economy, but to our national defense. And yet many of these ports don’t get the security they so desperately need. The threat of cyber intrusions and espionage from the Chinese Communist Party is real. We must do everything in our power to protect our critical infrastructure, and that includes securing the cranes that operate at our ports,” Kiggans said. “I’m deeply concerned that so many of our ports are forced to use cranes manufactured by Shanghai Zhenhua Heavy Industries (ZPMC), a Chinese state-owned company. It makes no sense to let our top adversary build and maintain the very equipment that powers our supply chains. I’m proud to support the Port Crane Tax Credit Act introduced by my colleague Rep. Ezell, which will empower our port operators to use American-made cranes. Port security is national security. The work our ports do is imperative—we cannot afford to leave that in the hands of the Chinese Communist Party.”

    “Our bipartisan legislation delivers strong incentives to produce port cranes and expand domestic manufacturing right here in the United States, advancing our America First agenda to rebuild domestic industry and protect our national security,” Malliotakis said. “For maritime communities like ours, that means more good-paying jobs, a stronger local economy, and greater independence from foreign supply chains.”

    “Without safe, reliable and affordable cranes, America’s ports would not be able to move the goods that sustain our economy and support the daily lives of American consumers,” Cary S. Davis, AAPA President and CEO said. “Instead of levying unfair taxes on port development, the Port Cranes Tax Credit Act is a tangible first step on the supply side towards incentivizing the reshoring of key CHE in the coming years since there are currently no domestic STS crane manufacturers. We thank lead sponsors Representatives Ezell and Malliotakis, alongside original cosponsors, Representatives Weber and Kiggans, for recognizing the need for supply side incentives – not punishments on the demand side through taxes – and encourage others concerned about the future of the port industry and our nation’s supply chains to support this bill and quickly get it to President Trump’s desk.”

    “Congressman Mike Ezell’s leadership on the Port Crane Tax Credit Act of 2025 is exactly the kind of forward-thinking support Gulf Coast ports like ours need to stay competitive and meet the demands of a modern, American-made supply chain,” Bo Ethridge, Port Director, Port Pascagoula. “Port Pascagoula plays a critical role in the regional economy, and as manufacturing continues to return to U.S. shores, our port is experiencing increased demand and new growth opportunities. Yet we remain the only major Gulf Coast port without cargo cranes, which is an infrastructure gap that limits our ability to diversify commodities. This legislation is a vital step toward closing that gap. With federal support, including incentives like this tax credit, we can move forward with the acquisition of two mobile harbor cranes that will significantly enhance our operational capabilities and position us to serve a broader range of industries and cargo types. We’re proud to work alongside Congressman Ezell to strengthen America’s ports and power the future of domestic manufacturing.”

    “Congressman Ezell’s Port Crane Tax Credit Act will help ensure America supports critical infrastructure by growing domestic crane manufacturing capacity,” Jon Nass, CEO and Executive Director, Port of Gulfport. “It creates a path to bring new skilled jobs to Mississippi and reinforces our ability to compete globally while supporting our maritime and port industries. We appreciate Congressman Ezell’s leadership on this important legislation.”

    “Strengthening and securing our nation’s supply chain resiliency depends on U.S.-built and manufactured port cranes.  This bill addresses urgent national security concerns, and our nation’s ports greatly benefit from this proposed legislation to create tax incentives to support domestic production of port infrastructure equipment,” explained Paul Anderson, Port Tampa Bay President and CEO.

    “Modern cargo handling equipment is a major capital expense for Port operations. As the largest inland public port and logistic hub in Upstate New York, the Port of Albany couldn’t function without key equipment – from our mobile harbor cranes to our front loaders and forklifts. We have to keep the supply chain moving. If we have to wait six months, a year, even two years for a piece of equipment to be delivered, that should be unacceptable, but it’s become the norm due to market conditions,” Richard J. Hendrick Sr., Port of Albany CEO and AAPA Board of Directors Vice Chair said. “The Port’s been operating for almost one hundred years, and the numbers don’t lie – our overall economic impact on New York State is annually more than $813 million with approximately 4,500 related jobs. Vessel calls have increased 41% during the past year due to Heavy Lift work and breakbulk cargo. I’m proud of those numbers, and the people who make those numbers possible, year after year, but they need to have the right equipment. We need to support onshoring manufacturing and good manufacturing jobs, and to make sure that our U.S. ports are equipped to continue to get the job done. I applaud Representatives Malliotakis and Ezell, and original cosponsors Representatives Weber and Kiggans, for taking decisive action to move the 2025 Port Cranes Tax Credit Act forward.”

    The legislation aligns with broader efforts in Congress to protect critical infrastructure and bolster domestic supply chains in the face of growing economic and geopolitical threats.

    The Port Crane Tax Credit of 2025 is expected to draw bipartisan support and will be referred to the House Committee on Ways and Means for further consideration.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Ahead of Confirmation Hearing, Warren Presses HHS Nominee on Dangerous Anti-Vax, Anti-Abortion View

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren

    July 31, 2025

    As HHS General Counsel, Michael Stuart would serve as chief legal representative and advisor to RFK Jr., entire agency

    “I am concerned that…you will greenlight Trump Administration policies that will endanger public health, strip Americans of their abortion rights, and cause millions of Americans to lose their health insurance.”

    Text of Letter (PDF)

    Washington, D.C. – U.S. Senator Elizabeth Warren (D-Mass.) pressed Michael Stuart, nominee for General Counsel of the Department of Health and Human Services (HHS), on his dangerous anti-vaccine views, staunch anti-abortion advocacy, and more. Ahead of his confirmation hearing in front of the Senate Finance Committee later today — at which Senator Warren will question Stuart — Senator Warren sent Stuart a letter outlining her key concerns with his nomination.

    “Given your ideological views, zealous advocacy for restrictions on abortion, and record of anti-vaccine skepticism, I am concerned that, rather than faithfully following the law, you will greenlight Trump Administration policies that will endanger public health, strip Americans of their abortion rights, and cause millions of Americans to lose their health insurance,” wrote Senator Warren.

    As HHS General Counsel, Stuart would serve as the chief legal representative and advisor to Secretary Robert F. Kennedy Jr. and the entire agency. Stuart’s interpretation of the law would play a key role in ensuring HHS is actually achieving its goal of protecting Americans’ health.

    Stuart’s history of anti-vaccine views threaten to endanger Americans — especially given all that Secretary Kennedy has already done to roll back vaccine access. As a West Virginia state senator, Stuart was a key proponent of Secretary Kennedy’s “Make America Healthy Again” campaign and appears to espouse the same anti-vaccine beliefs. As HHS GC, Stuart would advise Secretary Kennedy on critical vaccine-related decisions, including legal standards related to the Centers for Disease Control and Prevention’s (CDC’s) Advisory Committee on Immunization Practices (ACIP).

    Senator Warren posed a series of questions about Stuart’s plan to advise HHS on issues related to vaccines, including whether he believes Secretary Kennedy’s decision to fire the entire ACIP panel was done lawfully and whether Secretary Kennedy has the statutory authority to unilaterally change vaccines covered by the Vaccine Injury Compensation Program program.

    Senator Warren also pressed Stuart on HHS’s massive cuts to National Institutes of Health (NIH) funding, which totaled $2.7 billion in just the first three months of this year.

    “These cuts are under continuing legal scrutiny, and if confirmed, you would be responsible for advising HHS on navigating this legal landscape so as to remain in compliance with the law,” wrote Senator Warren.

    Senator Warren highlighted Stuart’s staunch anti-abortion views, including his track record of advancing harmful misinformation about reproductive rights and supporting extremist pieces of anti-abortion legislation as a West Virginia state senator. As HHS General Counsel, Stuart would be responsible for providing legal guidance on reproductive health policies and regulations

    “President Trump has frozen millions of dollars in family planning funding, issued executive directives to undermine abortion access, amplified misinformation and sowed confusion about the safety of mifepristone, rolled back protections to shield patients and providers from violence, revoked EMTALA guidance that protected women with medical emergencies, eliminated leave and travel benefits for servicemembers, and more,” wrote Senator Warren. “It is crucial that the person serving in this position be capable of interpreting and enforcing laws and regulations concerning women’s access to reproductive health care with a neutral and health-focused lens.”

    Senator Warren also raised concerns about how Stuart will approach Secretary Kennedy’s mass firings at HHS, crack down on abusive tactics in Medicare Advantage, protect Head Start from drastic cuts, and implement Donald Trump’s “Big Beautiful Bill,” which is set to slash health care for millions of Americans.

    “HHS carries an enormous responsibility as its services and programming touch millions of American lives every day…The chief legal adviser to the Secretary of HHS must be able to, without bias,

    effectively advise the Secretary to ensure that all actions by HHS are in accordance with the law,” wrote Senator Warren. “I ask that you provide answers to my questions so that the Senate and the American people can better understand how you plan to carry out this role.”

    MIL OSI USA News –

  • 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 –

  • MIL-OSI USA: Adventure awaits: USGS releases detailed topographic maps designed for recreational use

    Source: US Geological Survey

    Custom Extent 25K Recreational Topo showing elevation, hydrography, geographic names, transportation, structures, boundaries, and woodland tint around Grand Canyon Village in Grand Canyon National Park, Arizona. This OnDemand Topo was generated using the topoBuilder application in June 2025.

    The maps are highly detailed, allowing users to see subtle changes in terrain and plan routes that match their skill level, time constraints and interests. They also have specialized symbols that denote key recreational features like trailheads, campsites, picnic areas, and other amenities, making it easier to locate resources for outdoor enthusiasts of all ages and abilities. Rivers, trails, forests, and structures are emphasized, providing a comprehensive view of the environment with a focus on recreational opportunities. The maps highlight protected areas, such as national parks, national forests and national wild and scenic rivers, encouraging responsible exploration.

    “Whether you are a seasoned explorer or a casual hiker, the new USGS maps are a game-changer for recreational activities. If you’re looking for the shortest path to a summit or a leisurely trail along a river, these maps have you covered,” said Ariel Doumbouya, a USGS geographer and product lead. 

    These new maps are called 25K Recreational Topos because they have a 1:25,000 scale, which means one inch on the map represents 25,000 inches on the ground. This is about 2,083 feet or roughly 0.4 miles. This scale was used because it matches those used in Alaska, Canada, and by the U.S. Military, simplifying the user experience and aligning with scales used by national and international agencies and industries. 

    The level of detail these new maps bring to outdoor navigation make it easier to explore the natural wonders of the U.S. while supporting access to public lands for everyone. Designed with modern mapping technology, these maps offer precise coordinates and topographical details perfect for remote explorations.

    The new 25K Recreational Topo is available through the USGS topoBuilder application, where users can customize and download digital OnDemand Topo maps featuring the most up-to-date data from The National Map. These maps can be integrated with GPS devices or mobile apps, providing real-time navigation in the field. The maps are free for digital use, reinforcing the USGS commitment to making geographical data accessible to all, and enhancing public access to public lands for outdoor exploration.

    “The 25K Recreational Topos mark a milestone in supporting recreation and reflect USGS’s commitment to innovative cartography that serves and supports the American public.” said Doumbouya. “They empower adventurers to explore the outdoors with greater confidence, insights, and awareness of their surroundings.”

    Ready to hit the trails? Check out the new maps and start planning your next adventure. Let the 25K Recreational Topo guide you to places you’ve only dreamed of exploring!

    Learn more about the variety of topographic maps from the U.S. Geological survey. 

    MIL OSI USA News –

  • MIL-OSI Russia: China looks forward to further deepening dialogue and consultations with the US — Chinese Ministry of Commerce

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    BEIJING, July 31 (Xinhua) — China hopes to further deepen dialogue and consultations with the United States to achieve new mutually beneficial results, Chinese Ministry of Commerce spokesperson He Yadong said Thursday.

    The spokesman made the remarks at a regular departmental press briefing in response to a question about the recent trade talks between China and the United States held in Stockholm, Sweden.

    He Yadong said the two sides had a frank, in-depth and constructive exchange of views on China-US economic and trade relations, macroeconomic policies and other issues of common interest. He said the two sides also reviewed and approved the progress in implementing the consensus reached in Geneva and the framework agreements reached in London.

    Based on the consensus reached at the Stockholm talks, both sides will continue to promote a 90-day extension of the suspension of the U.S.’s 24 percent mirror tariffs and China’s countermeasures, He Yadong said.

    According to him, the consensus reached in Stockholm is expected to contribute to the further stabilization of Chinese-American trade and economic ties and bring more confidence to the development and stability of the global economy.

    China hopes to work with the United States in accordance with the important agreements reached by the two heads of state during their telephone conversation to make the most effective use of the role of the bilateral economic and trade consultation mechanism, the official representative of the Chinese Ministry of Commerce added. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Breaking: US to negotiate trade deal with Mexico within next 90 days – D. Trump

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    NEW YORK, July 31 (Xinhua) — U.S. President Donald Trump said on Thursday that the United States will hold talks with Mexico within the next 90 days to sign a trade deal.

    The American leader reported this on the social network Truth Social after a telephone conversation with Mexican President Claudia Sheinbaum. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI USA: Cherokee County men arrested on Child Sexual Abuse Material* chargesRead More

    Source: US State of South Carolina

    (COLUMBIA, S.C.) – South Carolina Attorney General Alan Wilson announced the arrest of Victor Hugo Lara Rosaldo, 35, of Gaffney, S.C., Caleb Tyler Patterson, 31, of Gaffney, S.C., and Timothy David Anderson, 58, of Chesnee, S.C., on nine total charges connected to the sexual exploitation of a minor. Internet Crimes Against Children (ICAC) Task Force investigators with the South Carolina Attorney General’s Office made the arrests in these unrelated cases. Investigators with the Cherokee County Sheriff’s Office, also a member of the state’s ICAC Task Force, assisted with these investigations.

     

    Investigators received CyberTipline reports from the National Center for Missing and Exploited Children (NCMEC), which led them to Rosaldo, Patterson, and Anderson. Investigators state Rosaldo and Anderson distributed files of child sexual abuse material, and Patterson possessed and distributed files of child sexual abuse material.  

     

    Rosaldo was arrested on July 29, 2025. He is charged with three counts of sexual exploitation of a minor, second degree (§16-15-405), a felony offense punishable by up to 10 years imprisonment on each count.

     

    Patterson was arrested on July 29, 2025. He is charged with three counts of sexual exploitation of a minor, second degree (§16-15-405), a felony offense punishable by up to 10 years imprisonment on each count; and two counts of sexual exploitation of a minor, third degree (§16-15-410), a felony offense punishable by up to 10 years imprisonment on each count.

     

    Anderson was arrested on July 30, 2025. He is charged with one count of sexual exploitation of a minor, second degree (§16-15-405), a felony offense punishable by up to 10 years imprisonment.

     

     

    These cases will be prosecuted by the Attorney General’s Office.

     

    Attorney General Wilson stressed all defendants are presumed innocent unless and until they are proven guilty in a court of law.

     

     

     

    * Child sexual abuse material, or CSAM, is a more accurate reflection of the material involved in these heinous and abusive crimes. “Pornography” can imply the child was a consenting participant.  Globally, the term child pornography is being replaced by CSAM for this reason.

    MIL OSI USA News –

  • MIL-OSI Security: Coast Guard surface units assist 4 mariners aboard disabled vessel Sueño I off Carolina, Puerto Rico

    Source: United States Coast Guard

     

    07/31/2025 12:55 PM EDT

    Coast Guard cutter Joseph Doyle and a Station San Juan boat crew assisted four mariners aboard the disabled vessel Sueño I off Carolina, Puerto Rico, Wednesday. Assisted are four men, Dominican Republic nationals, who reportedly were on a voyage from Tortola, British Virgin Islands to Samana, Dominican Republic, when the vessel experienced electrical problems and became disabled.

    For more breaking news follow us on Twitter and Facebook.

    MIL Security OSI –

  • MIL-OSI: Sleep Lean: Why SleepLean Is the Nighttime Fat Burner Everyone’s Talking About in 2025 (INVESTIGATIVE REPORT)

    Source: GlobeNewswire (MIL-OSI)

    New York City, NY, July 31, 2025 (GLOBE NEWSWIRE) —

    As the connection between quality sleep and body composition gains wider recognition, a new supplement is capturing attention for its unique nighttime approach: Sleep Lean. Both early users and wellness enthusiasts are praising it as a promising step forward in aligning sleep patterns with body balance goals, all while preserving restful sleep.

    In recent years, wellness has expanded beyond daytime routines and fitness tracking to include what occurs during nighttime hours. This growing awareness has sparked interest in nighttime supplements like Sleep Lean, which provide support during one of the body’s most important regenerative phases: sleep.

    Traditionally, weight management products have centered around daytime activity, focusing on boosting energy, controlling diet, or adjusting caloric intake. However, emerging research into circadian rhythms and hormonal cycles has made one thing clear: sleep significantly influences how the body performs throughout the day.

    This is where Sleep Lean stands out. It isn’t a fast-acting stimulant or a harsh sleep aid. Instead, it works in harmony with the body’s natural rhythm, supporting rest, regulation, and renewal without interference.

    According to current wellness trends, demand for nighttime supplements has grown significantly over the last 18 months, particularly among midlife wellness consumers. As sleep becomes more widely acknowledged as a key pillar of health, products like Sleep Lean are moving from the margins to the mainstream of long-term body balance strategies.

    Why Sleep Lean Is Gaining Momentum in 2025

    As the global wellness landscape continues to expand, a meaningful shift is taking place. People are beginning to recognize sleep not just as a way to recharge energy, but as a crucial period for internal regulation and balance. Leading this movement is Sleep Lean, a new supplement making waves among those seeking a more natural and gentle approach to overall wellness.

    In contrast to traditional methods that emphasize energy-boosting products or strict daytime routines, Sleep Lean supplement offers a unique solution by working in sync with the body’s nighttime processes. Its growing popularity isn’t the result of flashy marketing.

    Instead, it’s being fueled by genuine user experiences, active wellness communities, and shared reports of better sleep paired with noticeable improvements in body rhythm.

    Experts in the wellness field are calling this emerging mindset the “rest revolution” — a pivot from pushing harder to supporting smarter. Sleep Lean supplement aligns perfectly with this concept by targeting the body’s natural metabolic recovery processes that occur during sleep.

    As awareness continues to rise both in the United States and internationally, Sleep Lean is standing out not as a passing trend but as a symbol of shifting wellness values. In a space often saturated with stimulating products, this supplement is helping people rediscover one of the most effective yet underappreciated health tools available: quality sleep.

    >>Visit the Official Website To Get More Information

    The Science Behind Sleep and Metabolism

    Recent scientific findings continue to highlight the strong connection between sleep and metabolic function. Despite this, most wellness strategies have historically focused on what happens during the day. That’s where Sleep Lean stands out in 2025, by addressing the often-overlooked role of nighttime in supporting internal balance and overall well-being.

    Sleep is far from a passive state. It marks a shift in how the body operates, triggering changes in hormone activity, cellular repair, and energy regulation. For example, growth hormone peaks during deep sleep, helping with tissue regeneration and nutrient allocation.

    Meanwhile, cortisol—associated with stress response and fat storage—tends to recalibrate overnight, especially in those who sleep well.

    Disrupted or poor-quality sleep interferes with these processes, contributing to imbalances in energy, appetite control, and weight fluctuations. Sleep Lean supplement is designed to support the body’s natural rhythms, encouraging more restorative rest while creating a calm internal environment for recovery and regulation.

    By focusing on nighttime as a window for wellness, Sleep Lean taps into a growing base of evidence showing that sleep is not just recovery—it’s a vital phase for realigning metabolic health. This approach appeals to people looking for solutions that work with their body, rather than quick fixes that mask deeper imbalances.

    How Sleep Lean Supports the Body Without Harsh Stimulants

    Sleep Lean is gaining attention for its unique focus on aiding the body’s natural processes during rest. While many wellness products are geared toward daytime activity, this supplement is specifically formulated to enhance restorative metabolism, the quiet balancing work that happens while we sleep.

    Instead of relying on strong stimulants or ingredients that may lead to energy crashes, Sleep Lean takes a more gentle and supportive approach. Its carefully selected components help promote easier sleep onset while also encouraging healthy nutrient processing and storage during the night.

    This combination of restful sleep support and metabolic assistance is becoming increasingly popular among those seeking effective, non-invasive options. Early users have reported better sleep quality alongside subtle yet consistent improvements in body composition.

    Experts in the wellness space point out that sleep is still one of the most underappreciated aspects of metabolic health. With the introduction of Sleep Lean, this important connection is finally receiving the attention it deserves.

    >>For more information, including pricing and availability, visit the official Sleep Lean website.

    What Makes Sleep Lean’s Ingredients Stand Out

    The growing popularity of Sleep Lean supplement can be traced back to its thoughtfully selected ingredients, each chosen to support restful sleep and nighttime metabolic function without overwhelming the body.

    At the heart of the formula are natural adaptogens, which help the body stay balanced during periods of stress. Rather than inducing drowsiness, these ingredients encourage a smooth transition into rest, creating the right conditions for the body to carry out its nightly repair and regulation work.

    Sleep Lean also includes specific amino acid compounds linked to neurotransmitter activity. These compounds play a subtle but important role in helping regulate the sleep-wake cycle, allowing users to move into deeper, more restorative sleep phases. During these stages, the body is better equipped to manage energy use and nutrient processing.

    Adding to this blend is a botanical complex rich in antioxidants. Known for their calming and cell-supporting properties, these botanicals contribute to the body’s overnight recovery and renewal efforts.

    Instead of forcing sleep, Sleep Lean works in harmony with the body’s natural rhythm. This gentle and holistic approach is a major reason why it is resonating with individuals seeking non-disruptive support for both rest and metabolic health.

    What Sets Sleep Lean Apart from Daytime Weight Loss Supplements?

    According to the official website, most wellness supplements focus on boosting energy, increasing thermogenesis, or controlling appetite during the day. Sleep Lean, however, takes a different approach by providing support while the user is resting, aligning with the body’s natural recovery phase at night.

    Daytime products typically aim to stimulate the body, offering quick bursts of energy or increased alertness that may aid motivation but can disrupt rest if consumed too late. Sleep Lean avoids these issues completely. It contains no ingredients that cause jitters, no sudden energy crashes, and no interference with the body’s natural cortisol rhythm.

    Instead, Sleep Lean is formulated to assist the body’s natural processes after dark: resetting, repairing, and restoring balance. Research indicates that during sleep, the body undertakes complex metabolic functions such as nutrient processing and cellular maintenance. Sleep Lean supports these activities rather than working against them.

    This fundamental difference makes Sleep Lean a popular choice for those seeking sustainable wellness support without sacrificing sleep quality. It does not compete with energy levels but instead complements the body’s circadian rhythm. In an age of constant overstimulation, a supplement that focuses on nighttime recovery offers a welcome and increasingly popular alternative.

    >>Visit the official website to learn more.

    Who Is Using Sleep Lean in 2025?

    In 2025, wellness communities are experiencing a subtle but important change. People are increasingly recognizing rest not as idle downtime but as a vital part of maintaining overall body balance. This perspective is evident in the growing number of individuals choosing Sleep Lean pills.

    The range of users is broad. Busy professionals incorporate it into their nightly routines to encourage deeper, more restorative sleep and to support balance. Those going through midlife transitions, when sleep and metabolism often become more unpredictable, find value in the supplement’s gentle assistance.

    Even younger wellness seekers, who previously paid little attention to nighttime supplementation, are now embracing Sleep Lean as a key element of a comprehensive self-care regimen.

    Discussions on social media and wellness podcasts frequently highlight the “rest and reset” philosophy. Instead of seeking rapid results, many users prefer approaches that feel manageable over the long term. Sleep Lean fits well within this mindset, serving as a quiet, consistent support that works behind the scenes.

    What brings this diverse group together is a common priority: steady progress without sacrifice. In a market crowded with products promising quick fixes, Sleep Lean supplement appeals to those who want lasting improvements aligned with the body’s natural rhythms.

    Is Sleep Lean Safe for Nighttime Use?

    In 2025, safety continues to be a major concern for consumers, particularly when it comes to supplements intended for use before sleep. Sleep Lean has attracted attention not only for its distinctive approach but also for its responsible formulation designed specifically for nighttime support.

    The product is created without ingredients known to interfere with restful sleep, such as strong stimulants, synthetic sedatives, or addictive substances. Instead, it relies on naturally sourced compounds that help regulate the body’s circadian rhythms, promote nervous system balance, and gently support metabolic processes.

    Each ingredient is chosen for its suitability during evening hours. Rather than causing sudden changes in the body, the formula aims to facilitate a gradual and smooth transition into deeper sleep. Users frequently report experiencing calmness without feeling groggy upon waking, which is uncommon in this category of supplements.

    Moreover, the Sleep Lean formula avoids artificial colors, common allergens, and unnecessary fillers. This careful composition makes it a suitable choice for many wellness-minded individuals who want a safe and high-quality nighttime supplement.

    As the demand for sleep-centered metabolic support increases, Sleep Lean stands out as a thoughtful and balanced option that values harmony with the body’s natural rhythms over aggressive intervention.

    Where to Buy Authentic Sleep Lean in 2025

    As Sleep Lean’s popularity grows, many people are asking where to purchase it safely. The most reliable source for genuine Sleep Lean remains the official website, which offers a secure way to ensure the product’s authenticity, proper storage, and access to full customer support.

    Buying directly from the official website guarantees that customers receive the original formula along with the latest information, accurate usage instructions, and any available promotions. Because unauthorized sellers and counterfeit versions have appeared on some third-party marketplaces, wellness experts advise verifying the source before making a purchase.

    Safety is another important reason to choose official channels. Supplements designed for use during rest often include temperature-sensitive ingredients and require precise dosing, making quality control essential. This level of care is not always guaranteed when buying from unverified sellers.

    For those planning to incorporate Sleep Lean into their wellness routine, the brand also provides package options aimed at supporting consistent use over several weeks. This is especially beneficial for individuals seeking sustained support for body balance.

    What Wellness Experts Are Saying About Sleep Lean

    As the focus on restorative wellness grows, health professionals and holistic practitioners are paying close attention to products like Sleep Lean that prioritize working with the body’s natural rhythms rather than forcing change. Although daytime supplements remain important, the wellness community is increasingly acknowledging that rest itself plays an active and essential role in overall balance.

    Experts tracking the industry view Sleep Lean’s rising popularity as part of a larger trend. More consumers are selecting supplements based not only on their ingredients but also on how and when these ingredients support bodily functions. By targeting the nighttime hours, Sleep Lean provides an innovative alternative to products that emphasize daytime energy use.

    Many nutrition specialists have noted that Sleep Lean’s formulation aligns well with current knowledge about safe and gentle nighttime support. The fact that it does not contain synthetic sedatives or potent stimulants is often highlighted as a significant advantage.

    Overall, Sleep Lean is being seen not merely as a supplement but as an effective tool within a broader approach to enhancing metabolic health through quality rest.

    Final Thoughts: The Place of Sleep Lean in the 2025 Wellness Landscape

    Each year, thousands of supplements enter the wellness market, yet only a select few succeed in changing how people view body balance. In 2025, Sleep Lean is becoming one of those standout products—not because it makes flashy claims, but because it aligns perfectly with the evolving ways consumers approach wellness.

    Rather than trying to override the body’s natural systems or work against biology, Sleep Lean formula complements the body’s inherent design for recovery—quietly and gently supporting this process during rest.

    Its growing popularity reflects a broader shift in mindset. More people are adopting long-term strategies, seeking solutions that easily fit into their daily lives instead of products that require drastic lifestyle changes. Sleep Lean offers a simple integration: one capsule, a consistent routine, and a commitment to peaceful nights and balanced days.

    As awareness continues to build, Sleep Lean’s role in wellness becomes clearer. It focuses not on rushing results but on fostering smarter, sustainable habits. In a world filled with constant stimulation, this calm and supportive approach could be what truly sets it apart.

    For the most reliable and up-to-date information about the product, including pricing and availability, always refer to the official Sleep Lean website.

    Disclaimer: The information provided in this article about Sleep Lean is for informational purposes only and is not intended as medical advice. Results may vary from person to person. Before starting any new supplement, including Sleep Lean, it is recommended to consult with a healthcare professional, especially if you have existing medical conditions, are pregnant, nursing, or taking medications. This product is not designed to diagnose, treat, cure, or prevent any disease. The statements made regarding Sleep Lean have not been evaluated by the Food and Drug Administration (FDA). Always follow the manufacturer’s guidelines and instructions when using this supplement.

    Brand website: https://sleeplean.net/

    Project name: Sleep Lean

    Address: 285 Northeast Ave, Tallmadge, OH 44278, United States

    Postal code: 44278

    Contact:

    Email: support@sleeplean.net

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