NewzIntel.com

Category: Trade

  • MIL-OSI Canada: Alberta taps into Germany’s markets

    Source: Government of Canada regional news

    MIL OSI Canada News –

  • MIL-OSI: American Rebel Beverage Pre-Launch Efforts and Launch Event at MAPS Air Museum with Tramonte Distributing of Ohio Leads to Record Breaking Initial Account Acquisition for American Rebel Light Beer

    Source: GlobeNewswire (MIL-OSI)

    American Rebel Beer Shatters Initial Account Acquisition Market Goals

    Nashville, TN, March 26, 2025 (GLOBE NEWSWIRE) — American Rebel Holdings, Inc. (NASDAQ: AREB) (“American Rebel” or the “Company”), creator of American Rebel Beer (americanrebelbeer.com) and a designer, manufacturer, and marketer of branded safes, personal security and self-defense products and apparel (americanrebel.com), proudly reports a very successful launch event was held with its northeast Ohio distributor, Tramonte Distributing (tramontedistributing.com) at the MAPS Air Museum (mapsairmuseum.org) in North Canton, Ohio. Tramonte’s distribution territory covers a six-county region of northeast Ohio, including the city of Akron. This expansion marks a significant milestone as the company continues to grow its presence in the Midwest.

    “We had an incredible time with the folks from Tramonte, their customers and all the veterans and fans that attended our northeast Ohio launch event at MAPS,” said American Rebel CEO Andy Ross. “We tied our launch event and performance in with a Hunting & Fishing Outdoors Show sponsored by the Rubber City Radio Group, a local radio station ownership cluster that includes WQMX, WONE, WAKR and WNWV. It was great to share an ice-cold Rebel Light with everyone that came out to the event and supported American Rebel. Tramonte is part of the Miller/Coors distribution network; and we want to thank them for all their efforts. In just a few weeks Tramonte has an 11% penetration rate into their market with American Rebel Light. We think that is amazing and we know we’re very fortunate to be working with some of the best distributors in the country.”

    “The launch party of American Rebel Light at the MAPS Air Museum at the Akron Canton Airport was a huge success,” said Mike Tramonte, President, Tramonte Distributing. “The attendees loved the venue, the concert, the Hunting and Fishing Show, the time spent with Andy and Todd but most of all they really enjoyed sampling the American Rebel Light beer. The comments were overwhelmingly positive. Tramonte Distributing is proud to have American Rebel Light in its portfolio. You folks produce a great beer!”

    The relationship with Tramonte Distributing puts American Rebel Beer in front of a wide audience in Ohio, bringing its Premium Light Lager to light beer drinkers looking for a beer that shares their core values. The Tramonte agreement completes a seamless distribution network, ensuring that American Rebel Beer is available in local bars, restaurants, and retail outlets.

    “We are excited to partner with Tramonte Distributing to bring American Rebel Beer to Akron, OH, and the surrounding counties,” said Todd Porter, President of American Rebel Beverages. “This agreement represents our commitment to expanding our reach and sharing our passion for America’s Patriotic Beer with the amazing people of northeast Ohio.”

    Tramonte Distributing Company was founded in 1940 in Akron by Giacomo Tramonte, and true to its roots, remains in the city of Akron where they are the only alcoholic beverage distributor. Tramonte family members remain active in the company and the company prides itself on being a solid corporate citizen, encouraging responsible consumption, sponsoring a Safe Ride program during key holiday periods and contributing to local and national charities.

    To continue the launch effort, American Rebel Beer and Tramonte Distributing will host a series of events, including Rebel Light Kick-Off Parties featuring CEO Andy Ross and his band, beer tastings, and promotional giveaways. The festivities will continue through 2025, offering a perfect opportunity for the community to come together and enjoy America’s Patriotic, God-Fearing, Constitution-Loving, National Anthem-Singing, Stand Your Ground Beer.

    Since its launch in September 2024, American Rebel Light Beer has rolled out in Tennessee, Connecticut, Kansas, Kentucky, Ohio, Iowa, Missouri and North Carolina and is adding new distributors and territories regularly. For more information about the launch events and the availability of American Rebel Beer, please visit americanrebelbeer.com or follow us on our social media platforms.

    About American Rebel Light Beer

    Produced in partnership with AlcSource, American Rebel Light Beer (americanrebelbeer.com) is a domestic premium light lager celebrated for its exceptional quality and patriotic values. It stands out as America’s Patriotic, God-Fearing, Constitution-Loving, National Anthem-Singing, Stand Your Ground Beer.

    American Rebel Light is a Premium Domestic Light Lager Beer – All Natural, Crisp, Clean and Bold Taste with a Lighter Feel. With approximately 100 calories, 3.2 carbohydrates, and 4.3% alcoholic content per 12 oz serving, American Rebel Light Beer delivers a lighter option for those who love great beer but prefer a more balanced lifestyle. It’s all natural with no added supplements and importantly does not use corn, rice, or other sweeteners typically found in mass produced beers.

    About Tramonte Distributing

    Tramonte Distributing Company was founded in 1940 in Akron by Giacomo Tramonte, and true to its roots, remains in the city of Akron where they are the only alcoholic beverage distributor.

    The business began with distribution rights for the Miller and Duquesne brands. Shortly thereafter they added Fort Pitt Beer, Cribari Wines and Weidemann Beer. Tramonte continued to acquire brands and in the late 1960’s acquired Molson brands through a highly unusual process. Jack S. Tramonte purchased the Molson inventory at a Summit County Sheriff’s sale and thus became a Molson Distributor.

    In addition to its core business, Tramonte Distributing prides itself in being a solid corporate citizen. Joining its breweries, Tramonte is in the forefront of the effort to encourage responsible consumption, sponsoring a Safe Ride program during key holiday periods. Tramonte also offers certified TIPS training to retailers.

    Tramonte family members currently active in the business include Michael A. Tramonte, President; Jack T. Tramonte, Vice President and Jack F. Tramonte, Secretary/Treasurer and Jack J. Tramonte. The fourth generation recently joined the business, Michael J. Tramonte, Rachael Tramonte and Anne Tramonte McKee. From its Akron headquarters, Tramonte’s 100 employees serve customers in Summit, Medina, Portage, Wayne, Ashland, And Stark counties. For more information go to tramontedistributing.com.

    About MAPS Air Museum

    MAPS Air Museum is an internationally known museum of aviation and serves as a center of aviation history for Northeast Ohio. The museum features exciting educational displays of its collection of acquired artifacts, interactive exhibits and historical archives in its own library. Whether you have an hour or a whole day, there’s something for you at MAPS. For more information go to mapsairmuseum.org.

    About American Rebel Holdings, Inc.

    American Rebel Holdings, Inc. (NASDAQ: AREB) has operated primarily as a designer, manufacturer and marketer of branded safes and personal security and self-defense products and has recently transitioned into the beverage industry through the introduction of American Rebel Beer. The Company also designs and produces branded apparel and accessories. To learn more, visit americanrebelbeer.com or americanrebel.com. For investor information, visit americanrebel.com/investor-relations.

    American Rebel Holdings, Inc.
    info@americanrebel.com

    American Rebel Beverages, LLC
    Todd Porter, President
    tporter@americanrebelbeer.com

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. American Rebel Holdings, Inc., (NASDAQ: AREB; AREBW) (the “Company,” “American Rebel,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include benefits of a launch party, actual launch timing and availability of American Rebel Beer, success and availability of the promotional activities, our ability to effectively execute our business plan, and the Risk Factors contained within our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2023. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

    Company Contact:
    tporter@americanrebelbeer.com
    info@americanrebel.com

    Attachment

    The MIL Network –

  • MIL-OSI USA: Protecting Workers Who Maintain New York Highways

    Source: US State of New York

    overnor Kathy Hochul today highlighted New York State’s ongoing efforts to enhance safety on New York State’s highways and her proposal to further protect the workers who build and maintain roads and bridges. Included in her FY 2026 Budget, the Governor’s plan would make the Automated Work Zone Speed Enforcement pilot program permanent, expand it to include MTA Bridges and Tunnels and NYS Bridge Authority properties, and enhance penalties for assaults against transportation workers. A group of construction industry officials, labor leaders and safety advocates came together today to advocate for these safety enhancements on the one-year anniversary of the expansion of New York’s “Move Over Law” — a lifesaving piece of legislation requiring all drivers to move over when hazard vehicles, highway worker vehicles and tow trucks are stopped on the roadway.

    “The men and women in labor who have dedicated themselves to improving our roads and bridges risk their lives every day to ensure the safety of all drivers,” Governor Hochul said. “By permanently driving down speeds in work zones and enhancing penalties for assaults against them, I am working to strengthen our laws to ensure these dedicated workers can make it home safe themselves.”

    The Automated Work Zone Speed Enforcement (AWZSE) program is the result of legislation signed into law by Governor Hochul in September 2021. The legislation authorized a 5-year pilot program run as a joint effort by the New York State Department of Transportation (NYSDOT) and the New York State Thruway Authority (NYSTA) to enhance the State’s ongoing efforts to slow motorists down in work zones to make New York’s highways safer. More than 420,000 Notices of Liability have been issued statewide, with close to 78,400 repeat offenders since the AWZSE program launched in May 2023. And in locations where the cameras have been present more than once, fewer Notices of Liability are being issued, meaning that people are slowing down when cameras are present.

    In addition to her proposal to make the AWSZE permanent, the Governor’s Budget also includes language to enhance penalties for assaults against transportation workers, extending protections similar to those provided to many MTA and retail workers. These actions will improve safety for both workers and drivers. Just last year, while setting up a work zone on a Long Island Expressway ramp in Syosset, a car veered around Department of Transportation trucks, which were carrying attenuators. The driver got out of his car and accosted the highway maintenance crew for obstructing his trip up the ramp. Video of the beginning of the incident can be found here. The Governor’s proposal would hold bad actors accountable and deter actions like this in the future.

    State Department of Transportation Commissioner Marie Therese Dominguez said, “This commonsense legislative package put forward by Governor Hochul will provide much needed worker safety protection and peace of mind for thousands of State Department of Transportation highway forces by making the work zone camera program permanent, and increasing punishment against those who threaten to do them harm. Our highway workers deserve the respect of the traveling public every second they are out there doing their jobs in the name of safety. I strongly believe that both pieces of legislation will prompt more New Yorkers to slow down, pay attention and think twice before threatening or physically hitting one of our workers.”

    New York State DMV Commissioner Mark J.F. Schroeder said. “As someone who spends a lot of time in a car driving across the State, I drive past road work zones all the time, and I unfortunately see too many people driving in ways that put road maintenance crews and other drivers at risk. Taking the time to slow down and move over can prevent a tragedy and make sure we all get to our destinations safely.”

    New York State Thruway Authority Executive Director Frank G. Hoare said, “The Automated Work Zone Speed Enforcement program is a critical tool to enhance safety in work zones across the State. We are committed to enhancing safety for all highway workers and strongly support Governor Hochul’s proposal to make this effective program permanent.”

    New York State Bridge Authority Executive Director Dr. Minosca Alcantara said, “There is no excuse for speeding and reckless driving in work zones. All of our fellow New Yorkers who are out working on the roads need to get home safe to their families. Expanding AWZSE to the Bridge Authority and making it permanent across the State is imperative to ensure crews are safe while doing their jobs.”

    MTA Bridges and Tunnels President Catherine Sheridan said, “AWZSE is changing motorist behavior for the better: drivers are slowing down, resulting in fewer work zone accidents and injuries. This successful pilot program has made our roadways safer for both drivers and workers in construction zones. I look forward to this initiative becoming permanent and being expanded for widespread use.”

    State Senator Jeremy Cooney said, “Our highway employees work day in and day out to maintain our roads and keep New Yorkers safe, it’s only right that we prioritize their safety while on the job. In my role as Chair of The Senate Transportation Committee, I am always committed to protecting these vital workers, which is why I carry the Senate legislation expanding the automated work zone camera program while making it permanent. I thank Governor Hochul for her leadership on worker safety across New York.”

    Assemblymember William B. Magnarelli said, “Protecting our workers is of utmost importance. The investments are critical and will help reduce fatalities and injuries on New York’s highways.”

    New York State AFL-CIO President Mario Cilento said, “Keeping highway workers safe is a priority for the Union Movement. These workers endure hazardous conditions while performing their jobs for our safety; we must protect them. We thank Governor Hochul for her commitment to addressing enforcement and more aggressive repercussions for repeat violators who endanger the workforce that keeps our roads safe and our infrastructure running smoothly.”

    New York State Building and Construction Trades Council President Gary LaBarbera said, “It is well-known that construction sites are inherently dangerous and the added hazards and less-controllable variants of roadways and highspeed traffic only increase the risks for highway workers. This is why we must continue to push forward key legislation that encourages drivers to proceed with more caution and mindfulness around highway work areas and holds them accountable when they act recklessly. We applaud Governor Hochul for her ongoing leadership and action on this important issue. Every hard-working New Yorker, including our brave tradesmen and tradeswomen working on our roadways, deserve to return home safely to their families at the end of each shift.”

    LiUNA Vice President and New England Regional Manager Donato A. Bianco, Jr. said, “The Automated Work Zone Speed Enforcement pilot program has effectively caused drivers to slow down and pay attention, helping to protect the men and women working tirelessly to keep our highway system operational and properly maintained. LIUNA has proudly and staunchly advocated for this program since its inception, and its inclusion by Governor Hochul and the Senate in their respective proposed budgets demonstrates a strong commitment to prioritizing workers’ safety. We all owe it to the workers that skillfully do this dangerous job to take every possible action to ensure they go home safely at the end of the day, and we look forward to seeing the program included in the final enacted Budget.”

    CSEA President Mary E. Sullivan said, “CSEA applauds Governor Hochul’s leadership on this issue and calls on the New York State Legislature to make the Automated Work Zone Speed Enforcement program permanent.”

    CSEA Thruway Local President Sean Kennedy said, “We must explore all avenues to protecting road and highway workers risking their lives every day. The AWZSE program serves as a deterrent to distracted and reckless driving while boosting safety for workers as well as the traveling public.”

    New York State Public Employees Federation President Wayne Spence said, “PEF believes that all public employees should be able to go to their jobs, perform their duties professionally and return home safely to their families after work. Too often, PEF members are harassed or assaulted on the job or injured unnecessarily at work. PEF supports Governor Hochul’s Budget proposal to expand the use of automated work zone cameras to ensure drivers are alert and maintaining an appropriate speed in work zones. PEF also supports the Governor’s proposal to increase the penalties for assaults and harassment of department of transportation workers and urges the Governor and both houses of the Legislature to expand these increased penalties for assaults against any public employee in the performance of their duties. The time has come to address these issues on behalf of New York’s dedicated public employees.”

    New York Construction Materials Association President and CEO Ron Epstein said, “We wholeheartedly support Governor Hochul’s steadfast commitment to enhancing work zone safety and strengthening protections for transportation workers. The critical safety measures outlined in the Governor’s Budget proposal are essential for safeguarding the lives of the dedicated professionals who work tirelessly on our roads, ensuring they return home safely to their families at the end of each shift. We commend the Governor for her leadership in prioritizing these vital efforts and we stand ready to collaborate to make our work zones safer for everyone.”

    Associated General Contractors of New York State President and CEO Mike Elmendorf said, “Working in a work zone on a road or highway is inherently dangerous, but it is made needlessly so by all too frequent excessive speed and distracted driving. That’s why the construction industry and our partners in government, and labor worked hard to enact New York’s automated work zone speed enforcement program — and it is working. While it has documented shockingly high speeds in work zones, it is succeeding in getting drivers to use caution and slow down in work zones. That keeps both drivers and the men and women working there safer. We commend Governor Hochul for her efforts to make sure construction workers and drivers alike can return safely to their homes and families by creating this important program — and this year proposing to make it permanent and increase penalties for those who are still speeding in work zones. Let’s stick with what works and make this critical program permanent this year.”

    American Automobile Association New York State Safety Committee Chairman John Corlett said, “With the construction season about to get fully underway, work zones and construction zones will be popping up on roads across the Empire State. AAA is supporting the Governor’s plan to make work zone speed cameras permanent. April 21 will mark the beginning of National Work Zone Awareness Week. As the weather gets better, speeds will start picking up, which makes the roads riskier for everyone and we need responsible drivers who will safely navigate work zones to ensure that everyone makes it home to their families at the end of the day.”

    New York State Association of Town Superintendents of Highways President and Town of Elmira Highway Superintendent Matt Mustico said, “The people working on our roads deserve to go home safe at the end of the day. It’s that simple. The Automated Work Zone Speed Enforcement program is already making a difference — drivers are slowing down and paying more attention. That’s exactly what’s needed. Making this program permanent is common sense. On behalf of town highway superintendents and our association stakeholder members across New York State, we urge the Legislature to include this critical safety measure in the final State Budget. Protecting our highway workers while keeping our roads safe for New Yorkers should be something we can all agree on.”

    Greater Capital Region Building and Construction Trades Council President Michael Lyons said, “The expansion of work zone camera systems in New York reflects the commitment of the State to protecting transportation workers and ensuring their rights and safety on the job. The Greater Capital Region Building and Construction Trades Council represents over 22,000 Union construction workers in the area and the State’s focus on improving working conditions, reducing accidents and ensuring workers are equipped with the necessary safety training and resources is an initiative that we can back unequivocally.”

    New York State Association of Towns Executive Director Christopher A. Koetzle said, “The New York Association of Towns is committed to protecting the dedicated professionals who ensure the safety and maintenance of our roads. We strongly urge state legislative leaders to include transportation worker safety initiatives as part of the State Budget, ensuring a safer work environment for those who keep our infrastructure running smoothly.”

    New York State Conference of Mayors Executive Director Barbara Van Epps said, “NYCOM commends Governor Hochul and Department of Transportation Commissioner Dominguez, for their commitment to prioritizing the safety of our state and local transportation workers. Ensuring a secure work environment is a fundamental responsibility of the State, and no employee should face threats, harassment or physical harm while performing their duties. These proposals are critical to safeguarding the men and women who maintain our roadways and send a strong message that any form of violence against them is unacceptable.”

    Long Island Contractors’ Association Executive Director Marc Herbst said, “Protecting our workers is foundational to every issue we advocate for as an industry. There is no question that we need to do all we can to ensure that the workers who go out to build, repair and maintain our vital infrastructure have every protection we can provide. Both the expansion of the work zone safety camera program and transportation worker protection from harassment and assault are vital to ensure our workers know we have their backs and truly appreciate their contributions to our roadways.”

    Construction Industry Council Executive Director John Cooney, Jr. said, “The Construction Industry Council of Westchester and Hudson Valley Inc. thanks Governor Kathy Hochul for including in her Executive Budget the inclusion of both the expansion of automated work zone camera program and transportation worker protection from harassment and assault. We thank NYSDOT Commissioner Marie Theresa Dominguez and New York State Thruway Authority Executive Director Frank Hoare for standing up for transportation worker safety and highlighting the need for these two important budget worker safety items. The construction and transportation industries deserve to have all workers involved to have a safe and protected work environment. The proposals for the expanded work zone camera program and expanded transportation worker harassment and assault protections deserve to be a final product of this year’s New York State Budget.”

    New York State Association of Counties Executive Director Stephen J. Acquario said, “Our dedicated county highway crews work all hours of the day and night to maintain and improve our local roads and bridges, ensuring the safety of all who travel them. It is imperative that we take every measure possible to protect these essential workers from harassment, assault and reckless drivers. The New York State Association of Counties stands firmly in support of initiatives aimed at safeguarding our transportation workers and enhancing their well-being.”

    Verra Mobility Executive Vice President Jon Baldwin said, “New York State has demonstrated tremendous leadership with the Automated Work Zone Speed Enforcement pilot program, and the results speak for themselves. Drivers are slowing down, paying attention and prioritizing safety in work zones. New York’s continued investment in this initiative reflects a dedication to fostering safer work environments and safer roads for all. As leaders in smart transportation solutions, we applaud the State’s commitment to safety and support a permanent solution for protecting lives.”

    MIL OSI USA News –

  • MIL-OSI USA: Grassley, Durbin, Colleagues Introduce Legislation to Improve Coordination between Patent Office and FDA

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley

    WASHINGTON – Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa) joined Ranking Member Dick Durbin (D-Ill.), along with Committee members Thom Tillis (R-N.C.), Peter Welch (D-Vt.) and Chris Coons (D-Del.), to introduce the Interagency Patent Coordination and Improvement Act. The bipartisan legislation would establish a task force between the United States Patent and Trademark Office (USPTO) and the Food and Drug Administration (FDA) to improve communication and coordination in implementing each agency’s activities related to pharmaceutical patents.

    “When government agencies fail to coordinate effectively, taxpayers pay the price. These agencies would benefit from increased communication and better cooperation. Our legislation will encourage that collaboration, helping taxpayers in turn by increasing competition and cutting red tape,” Grassley said.

    “Establishing clear avenues for collaboration between USPTO and FDA is essential for both agencies to oversee patent laws that protect innovation and promote competition,” Durbin said. “By incentivizing coordination through the Interagency Patent Coordination and Improvement Act, we can address gamesmanship and abuses with pharmaceutical patents that keep prescription drug prices too high for American patients.” 

    “Enhancing coordination between the USPTO and FDA will ensure that patent examiners have the necessary information to make well-informed decisions regarding patentability,” Tillis said. “This bill is a straightforward, commonsense measure that strengthens the patent system, improves patent quality and reduces unnecessary bureaucracy.”

    Numerous concerns have been raised about gamesmanship, abuses or lack of clarity that can harm prescription drug affordability by limiting generic competition. However, USPTO and FDA’s collaboration is limited, despite both agencies playing a role related to patents and competition involving prescription drugs.

    Specifically, the task force created by the Interagency Patent Coordination and Improvement Act would:

    1. Enhance information sharing on each agency’s processes, standards and methods;
    2. Improve dialogue on new technologies and scientific trends;
    3. Enable confidential reciprocal access to information, if requested and only as needed, related to prior art;
    4. Ensure accurate representations by companies between the two agencies; and
    5. Ensure accuracy of patent listings

    The bill promotes efficiency and good governance by fostering communication between the two agencies, while respecting their distinct purviews. This enhanced coordination will help bolster innovation while preventing inappropriate tactics to delay access to affordable generic medications. The Senate Judiciary Committee passed this legislation in the 118th Congress by voice vote.

    -30-

    MIL OSI USA News –

  • MIL-OSI Security: Bay Area-Based Flooring Company and Its Owners to Pay $8.1 Million to Settle False Claims Allegations Related to Customs Duties Evasions

    Source: Office of United States Attorneys

    LOS ANGELES – Evolutions Flooring Inc., a South San Francisco, California based importer of multilayered wood flooring, and its owners, Mengya Lin and Jin Qian, have agreed to resolve allegations that they violated the False Claims Act by knowingly and improperly evading customs duties on imports of multilayered wood flooring from the People’s Republic of China (PRC). The settlement is based on Evolutions’ and its owners’ ability to pay.

    To enter goods into the United States, an importer must declare, among other things, the country of origin of the goods, the value of the goods, whether the goods are subject to duties, and the amount of duties owed.

    U.S. Customs and Border Protection (CBP) collects applicable duties, including antidumping and countervailing duties assessed by the Department of Commerce and Section 301 duties imposed by the Office of the United States Trade Representative. Antidumping duties protect against foreign companies “dumping” products on U.S. markets at prices below cost, while countervailing duties offset foreign government subsidies.

    Section 301 duties similarly protect U.S. industry by imposing trade sanctions on foreign countries that violate U.S. trade agreements or engage in other unreasonable acts that burden U.S. commerce. During the relevant time period, PRC-manufactured multilayered wood flooring products were subject to antidumping, countervailing, and Section 301 duties.

    The settlement resolves allegations that Evolutions, at the direction of Lin and Qian, knowingly and improperly evaded customs duties, including antidumping, countervailing, and Section 301 duties, on multilayered wood flooring manufactured in the PRC that Evolutions imported between Sept. 1, 2019 and July 31, 2022. Among other things, the United States alleged that Evolutions caused false information to be submitted to CBP regarding the identity of the manufacturers and country of origin of the imported multilayered wood flooring.

    “The outcome of this case demonstrates that our office and its CBP partners will continue to safeguard the nation’s economic well-being,” said Acting United States Attorney Joseph McNally. “Fraud in international commerce deprives the United States of vital revenue and creates an unfair advantage over businesses that operate legitimately. The settlement sends a message that we will not stand aside when companies try to cheat the system.”

    “Import duties provide an important source of government revenue and level the playing field for U.S. manufacturers against their global competitors,” said Acting Assistant Attorney General Yaakov M. Roth of the Justice Department’s Civil Division. “The department will pursue those who seek an unfair advantage in U.S. markets, including by evading the duties owed on goods imported into this country from China.”

    “The team at CBP was instrumental in providing expertise and logistical support to this investigation,” said Director of Field Operations Cheryl M. Davies of the CBP Los Angeles Field Office. “Through its efforts, which included a site visit to factories in Thailand, review of identified shipments by CBP experts on multilayered wood flooring, an analysis of import records and data by Office of Trade Regulatory Audit, and involvement in interviews with witnesses, CBP contributed to a successful outcome in this matter.”

    The settlement with Evolutions and its owners resolves a lawsuit filed by Urban Global LLC under the whistleblower provision of the False Claims Act, which permits private parties to file suit on behalf of the United States for false claims and share in a portion of the government’s recovery. The civil lawsuit was filed in the Central District of California and is captioned United States of America ex rel. Urban Global LLC v. Struxtur Inc. et al., No. CV20-7217 (C.D. Cal.). As part of today’s resolution, relator Urban Global LLC will receive approximately $1,215,000 of the settlement proceeds.

    The resolution obtained in this matter was the result of a coordinated effort between the Civil Division’s Commercial Litigation Branch, Fraud Section, and the U.S. Attorney’s Office for the Central District of California, with assistance from CBP’s Office of Chief Counsel, West Region and Trade Regulatory Audit and the Center of Excellence and Expertise for Industrial and Manufacturing Materials within CBP’s Office of Trade.

    Assistant United States Attorney Sheng-Wen D. Jui of the Civil Division’s Civil Fraud Section and Senior Trial Counsel Christelle Klovers of the Justice Department’s Civil Division handled this case.

    The claims resolved by the settlement are allegations only; there has been no determination of liability.

    MIL Security OSI –

  • MIL-OSI United Kingdom: Chancellor delivers security and national renewal for Northern Ireland in new era of global change

    Source: United Kingdom – Executive Government & Departments

    Press release

    Chancellor delivers security and national renewal for Northern Ireland in new era of global change

    The UK Chancellor delivered the Spring Statement today (Wednesday 26 March 2025)

    • Chancellor vows to bring about “new era of security and national renewal” as she delivered a Spring Statement to kickstart economic growth, protect working people and keep Britain safe. 

    • People across the UK to be on average £500 a year better off by the end of this parliament compared to under the previous government, putting more money in people’s pockets. 

    • Growth at the heart of Plan for Change as £13 billion of additional capital spend allocated alongside £2.2 billion defence funding boost next year will get Britain building. 

    People across the UK will be on average £500 better off from 2029, relative to OBR’s autumn forecast, helping to deliver the Plan for Change as the Chancellor today (Wednesday 26 March) announced a Spring Statement to grasp the opportunities in a changing world. 

    The OBR also confirmed that the UK economy is expected to grow faster than expected from 2026 and will be larger by 2029 compared to its autumn forecast – up to 9.5% compared to 9.2%.  

    The Chancellor also set out how the government is protecting national security and maximising the growth potential of the UK defence sector by confirming a £2.2 billion increase in the UK-wide defence budget in 2025-26. 

    The Spring Statement delivers UK Government spending plans focused on its core objectives, bringing security and stability for working people across the UK.  

    It follows the Budget in the autumn where the Chancellor announced that the Northern Ireland Executive will be provided with an £18.2 billion settlement in 2025/26 – the largest in real terms in the history of devolution. This includes an additional £1.5 billion through the Barnett formula, with £1.2 billion for day-to-day spending and £270 million for capital investment.  

    The measures taken today top these Barnett consequentials up by a further £14 million in 2025/26. The Northern Ireland Executive are receiving over 24% more per person than equivalent UK Government spending in the rest of the UK, including the 2024 restoration financial package. 

    The Northern Ireland Executive’s block grant funding from 2026-27 onwards will be confirmed at Phase 2 of the Spending Review, which concludes on 11 June 2025. The Chief Secretary to the Treasury will meet with his counterparts from the devolved governments to discuss their priorities ahead of its conclusion.  

    Secretary of State for Northern Ireland Hilary Benn said:  

    I welcome the fact that Northern Ireland will receive a £14 million boost in Barnett consequentials as a result of today’s announcements, building on the record £18.2 billion settlement which was confirmed by the UK Government last Autumn. 

    This also follows a  £235 million package to transform public services in Northern Ireland, which will support the transformation of key public services which make a real impact on people’s lives, including health, education, planning and justice. 

    Importantly, today’s announcement reinforces the economic growth potential of the UK defence sector, and follows  the Prime Minister’s announcement of a £1.6bn deal to provide air defence missiles for Ukraine, which will create 200 jobs in Northern Ireland and demonstrates the strength of the local defence industry. 

    From next week, working people across Northern Ireland and the UK will also benefit from an increase to the National Living Wage, putting more money into the pockets of hard-working people. 

    And the UK Government continues to provide support  across Northern Ireland through City and Growth deal packages, having confirmed the Mid-South West and Causeway Coast and Glens City deal last year.    

    Taken together, these measures will foster growth in Northern Ireland, creating jobs, supporting public services, and boosting the quality of life for local people.” 

    Growth 

    Kickstarting economic growth is the number one mission of this government, putting more money in people’s pockets. 

    The UK Government has already made considerable progress on growth in Northern Ireland, including confirming the Mid-South West and Causeway Coast and Glens City deal. Earlier this month, the Prime Minister also announced a £1.6bn deal to provide air defence missiles for Ukraine, which will create 200 jobs in Northern Ireland. In February we launched Intertrade UK which will advise on how businesses can take advantage of the full opportunities of the UK internal market.   

    The actions of this government across the Autumn Budget and Spring Statement, if sustained, lead to a 0.6% rise in the level of real GDP by 2034-25. 

    The OBR concluded that the stability rule is met by £9.9 billion and the investment rule is met by £15.1 billion. Both rules are met two years early, meaning from 2027-28 the government is only borrowing for investment and net financial debt is falling. 

    The government is not satisfied with short-term growth figures, and is going further and faster today to improve this. 

    The Chancellor has announced a further £13 billion of capital investment over the Parliament to go further on growth, on top of the £100 billion uplift announced at Autumn Budget. This will deliver the projects needed to catalyse private investment, boost growth and drive forward the UK’s modern industrial strategy. 

    Taken together, this greater capital investment more than offsets the modest savings on day-to-day spending and means the total departmental spending will increase over the next five years, when compared with plans in the Autumn. 

    Defence 

    The world is changing before our eyes, reshaped by global instability, including Russian aggression in Ukraine. Europe is facing a once-in-a-generation moment for its collective security, with conflicts overseas undermining security and prosperity at home.  

    A month ago, the Prime Minister announced the biggest sustained increase in defence spending since the Cold War as a result of the changing global picture, now reaching 2.5% of GDP by April 2027, and with an ambition to reach 3% in the next Parliament subject to economic and fiscal conditions.  

    We are going further and faster to protect our national security and maximise the economic growth potential of the UK defence sector.  

    • Increasing the defence budget by £2.2 billion in 2025-26, taking additional spending on defence to over £5 billion since the Autumn Budget. 

    • This raises spending on defence to 2.36% next year and will be invested in fitting Royal Navy ships with Directed Energy Weapons five years earlier than planned, providing better homes for military families and modernising His Majesty’s Naval Base Portsmouth.  

    • Setting a minimum 10 percent ringfence for equipment spending on emerging technologies like drones and autonomous systems, dual-use technology, and AI-powered capabilities, so that British troops have the tools they need to fight and win in modern warfare.   

    • Getting this new tech into the hands of our armed forces quicker by cutting away bureaucracy, with a new UK Defence Innovation unit within the Ministry of Defence spearheading efforts to identify promising technology and ensure these get to the frontline at speed, while also bolstering the UK tech sector and crowding in private investment.  

    • Creating bespoke procurement processes for different types of military equipment, learning lessons from our rapid support for Ukraine to drive faster timescale targets for operationalising new tanks, aircraft and other essential tools for modern warfare.  

    • This government is determined to transform the defence sector into an engine for growth by focusing this investment on where it boosts the productive capacity of the economy such as investment in innovation and novel technologies. As a result of the increase in defence spending to 2.5%, the government estimates this could lead to around 0.3% higher GDP in the long run, equivalent to around £11 billion of GDP in today’s money. 

    • The government’s investment in defence will also support its number one mission to deliver economic growth. UK citizens will be protected from threats at home whilst creating a stable environment in which businesses can thrive, and supporting highly skilled jobs and apprenticeships across the whole of the UK. 

    Reform 

    The UK Government is determined to make the public sector more productive and to improve services for working people. But the changing world means we need to go further and faster to ensure we can deliver the public services that working people care most about. 

    The government has shown its commitment to taking the difficult decisions required to drive efficiencies and reform the state – reducing bureaucratic inefficiencies and duplication; and driving out wasteful government spend through cancelling thousands of government credit cards. 

    Getting more people into jobs is also central to the government’s growth mission. The broken welfare system is letting people down by asking them to prove what they can’t do, rather than focusing on what they could do with the right support – trapping people due to fear of trying work, lack of support and poor financial incentives. 

    The Chancellor has confirmed the creation of a £3.25 billion Transformation Fund to support the fundamental reform of public services, seize the opportunities of digital technology and Artificial Intelligence (AI), and transform frontline delivery to release savings for taxpayers over the long-term. 

    The UK Government provided £235 million to transform public services in Northern Ireland as part of the £3.3 billion restoration package for the Executive. This month we agreed to allocate £129 million of that funding to projects across several priority public services including health, education, planning and justice. The funding will see £61 million go towards expanding the multi-disciplinary teams in GP clinics across Northern Ireland, and support five other projects across justice, special education and infrastructure which represent key priorities in the Executive’s Programme for Government. 

    Looking Forward 

    This Spring Statement builds on the Autumn Budget and the decisions taken since required to deliver stability to the British economy and kickstart economic growth. 

    The government will set out its plans for spending and key public sector reforms at the Spending Review which will conclude on 11 June 2025. 

    Notes to editors 

    • Government calculations for the long-run impacts of higher defence spending are based on estimates from Antolin-Diaz and Surico (2025), forthcoming in the American Economic Review (AER), of the GDP impact of higher defence spending on GDP. Their estimates of the GDP multiplier stabilise after ten years at around 1.6, which is assumed to reflect an appropriate long-run multiplier for potential output, as any demand-side effects are likely to have dissipated at the ten-year horizon. 

    • Defence spending as a share of GDP is set to rise from 2.3% to 2.5%, an increase of 0.2 percentage points. Applying an elasticity of 1.6 to this change implies a long-run increase in the level of potential output of approximately 0.3%. A long-run increase to the level of potential output of 0.3% is equivalent to around £11 billion of GDP in the long run, in today’s prices.

    Updates to this page

    Published 26 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Quadient SA: FY 2024 results: Solid 1st year delivery of “Elevate to 2030” strategic plan, with Digital Solution achieving €267m in revenue and 61% EBITDA growth to €47m

    Source: GlobeNewswire (MIL-OSI)

    Quadient FY 2024 results:
     Solid 1st year delivery of “Elevate to 2030” strategic plan, with Digital Solution achieving €267m in revenue and 61% EBITDA growth to €47m

    Key highlights

    • FY 2024 financial targets achieved
    • Two operating profitability milestones reached:
    • Digital EBITDA margin at 17.5%, up 5.7pts yoy, reflecting strong profitability improvement
    • All three solutions are EBITDA positive
    • Consolidated sales of €1,093 million, up +2.8% on a reported basis, including the contribution of the latest acquisitions
    • FY 2024 subscription-related revenue up +10.2% in Digital and up +11.5% in Lockers
    • FY 2024 subscription-related revenue of €777m, representing 71% of total revenue, up +€30m yoy,
      vs. +      €90m 2026 target
    • FY 2024 Group current EBIT of €146 million, up +2.2% organically
    • Proposed dividend of €0.70 per share, up by €0.05 for the fourth consecutive year
    • FY 2025 outlook: acceleration both in organic revenue growth and in current EBIT organic growth vs. 2024

    Paris, 26 March 2025

    Quadient S.A. (Euronext Paris: QDT), an Intelligent automation platform powering secure and sustainable business connections, today announces its 2024 fourth-quarter consolidated sales and full-year results (period ended on 31 January 2025). The full year 2024 results were approved by the Board of Directors during a meeting held on 25 March 2025.

    Geoffrey Godet, Chief Executive Officer of Quadient S.A., stated: “We have delivered a solid first year of our Elevate to 2030 strategic plan.

    Our Digital Automation platform has reached the record level of c.€270 million in revenue thanks to both the addition of 2,600+ new customers and the contribution from the increased usage and upsell from our existing 16,500 customer base. This strong revenue increase has been delivered together with a significant improvement in profitability with EBITDA rising by 61% to reach €47 million. We are now in a good position to exceed the 20% EBITDA margin ambition set for 2026.

    2024 also saw the highest level of Digital cross-sold deals into our Mail customer base while at the same time our Mail business continues to outpace competition. In Lockers, investments made over the past couple of years are paying off, contributing to a strong performance in H2 with double digit growth in revenue thanks to increased usage of the locker base across all regions. In addition, Lockers have reached EBITDA breakeven over the full year and profitability will further improve as we continue to increase the size of our network, grow its usage and take advantage of the recent addition of Package Concierge in the US residential sector.

    At Company level, this solid performance translates into a €30 million increase in annual recurring revenue, well on track to deliver the €90 million increase targeted by 2026. Based on this solid start to the strategic plan, we are confident in our ability to continue building a €1bn recurring revenue platform by 2030, generating €250 million current EBIT. Therefore, we are proposing to increase our dividend for the fourth consecutive year in a row, to €0.70.

    While macro uncertainties have recently been growing, we are expecting an acceleration of organic growth in revenue and current EBIT in 2025 against 2024 levels.”

    Comments on FY 2024 performance

    Group sales came in at €1,093 million in FY 2024, a +2.8% increase on a reported basis, and +0.4% organic growth compared to FY 2023, in line with Quadient’s expectations. The reported growth includes a positive currency impact of €2 million and a positive scope effect of €24 million, which is related to the acquisitions of Daylight (September 2023), Frama (February 2024) and Package Concierge (December 2024).

    In the fourth quarter of 2024, reported revenue growth stood at +4.1% and organic revenue growth was broadly flat, at -0.2%, compared to Q4 2023.

    Subscription-related revenue reached €777 million in FY 2024, growing +1.6% organically, and representing 71% of total sales. This represents a €30 million increase year-on-year (compared to the +€90 million target by 2026), progressing toward the €1 billion subscription-related revenue target by 2030. Performance in the fourth quarter of 2024 was steady, up 2.1% organically against Q4 2023, driven by a double-digit organic increase in Digital and in Lockers. Non-recurring revenue declined by 2.4% organically in FY 2024, including a 5.1% decline in Q4 2024, essentially due to a high comparison basis in Mail hardware sales.

    By geography, North America (58% of revenue) continued to outperform other regions with a +2.8% organic growth achieved in FY 2024.

    Consolidated sales and EBITDA by Solution

    FY 2024 consolidated sales

    In € million FY 2024 FY 2023 Change Organic change
    Digital 267 245 +9.1% +7.7%
    Mail 732 729 +0.4% (2.5)%
    Lockers 94 88 +5.7% +4.3%
    Group total 1,093 1,062 +2.8% +0.4%

     

    EBITDA and EBITDA margin

      FY 2024 FY 2023
    In € million EBITDA EBITDA margin EBITDA EBITDA margin
    Digital 47 17.5% 29 11.8%
    Mail 200 27.4% 218 29.9%
    Lockers 1 0.6% (3) (3.0)%
    Group total 247 22.6% 244 23.0%
     

    Digital

    In FY 2024, revenue from Digital reached €267 million, up 7.7% organically (+10.1% in Q4 2024 vs. Q4 2023) and up 9.1% on a reported basis (including the contribution from Daylight) compared to FY 2023.

    This solid performance was driven by a strong 10.2% organic growth in subscription-related revenue in FY 2024 (+10.5% in Q4 2024 vs. Q4 2023), including a good contribution from North America and continued positive commercial trends across the platform with further solid cross-selling and up-selling. In FY 2024, subscription-related revenue was representing 82% of Digital total sales, a further increase compared to 80% in FY 2023.

    At the end of FY 2024, annual recurring revenue (ARR), which is a forward-looking indicator of future subscription-related revenue, reached €232 million, up from €206 million at the end of FY 2023, representing a 12.7% organic growth.

    EBITDA for Digital was €47 million in FY 2024, up +61% year-on-year. EBITDA margin was at 17.5%, a strong improvement of 5.7 points compared to FY 2023. In H2 2024, EBITDA margin further improved, reaching 19.1%, after 15.7% in H1 2024. This positive evolution in profitability reflects the combination of subscription-related revenue growth and platform maturity. The Digital solution is well on track to reach its target of EBITDA margin greater than 20% in 2026.

    As part of its customer acquisition strategy, Digital continues to demonstrate strong commercial momentum. Over
    2,600 new customers were added     in FY 2024 thanks in particular to robust cross-selling with Mail, especially in North America. Digital experienced a dynamic fourth quarter, with several key deals secured in the US. Additionally, a new partnership was established with Avaloq to deliver Customer Communications Management capabilities to the financial services industry.

    As part of the customer expansion process, the focus continues to be on further increasing up-selling, notably in financial automation process. Several platform innovations have been made, to bring added value to customers, including the ramp-up and extension of Repay for direct supplier invoice payments in the US and Canada, and new electronic invoice formats (UBL, CII, Factur-X) to align with upcoming European e-invoicing regulation.

    In Quadient’s core geographies, the addressable demand for its Digital automation platform is set to grow from
    c.€6 billion in 2023 to c.€9 billion in 2027, representing a +10% CAGR, creating substantial growth opportunities in both communication and financial automation.

    To capture this growth, Quadient is strongly positioned, leveraging on:

    • a sound base of highly predictable business, with over 16,500 customers, 82% subscription-based revenue,
      and a churn rate well below 5%,
    • a highly recognized platform in financial & communication automation, and 84.5% of Saas customers,
      across three regions,
    • a fully scalable and modulable platform, for small to large customers, driving new client acquisition (+2,600 in FY 2024) and record cross-sell of Digital solutions into Quadient Mail customers and increased upsell opportunities among existing customers,
    • an efficient go-to-market organisation that driving a 34% year-on-year increase in bookings in Q4 2024 and +12.7% growth of ARR at the end of the year.

    Mail

    Mail revenue reached €732 million in FY 2024, down 2.5% on an organic basis (-4.6% in Q4 2024 vs. Q4 2023). The reported growth stood at +0.4%, including the contribution of Frama.

    Hardware sales recorded a minor -1.7% organic decline in FY 2024, despite a 7.3% drop registered in Q4 2024, mainly reflecting a high comparison basis related to deals signed in H2 2023.

    Subscription-related revenue (68% of Mail sales) recorded a 2.9% organic decline in FY 2024.

    EBITDA for Mail was €200 million for FY 2024. EBITDA margin reached 27.4%, down 2.5 points compared to FY 2023. Mail EBITDA margin was impacted by the dilutive effect of Frama acquisition, including integration costs. Frama’s performance is due to improve significantly from 2025 onward, with positive current EBIT already reached in FY 2024 and payback of the acquisition expected in FY 2025.

    Thanks to its strong focus on customer acquisition, Quadient’s Mail business continues to outperform the market. In Q4 2024, commercial performance remained resilient in North America, particularly in highly regulated industries where secure mail communications are key.

    As part of the customer expansion focus, outlook remains strong driven by a high customer satisfaction rate of 95.7% and robust cross-selling performance, especially in the US where a record-breaking performance in placement of Digital solutions was recorded in Q4 2024. Mail business also benefited from the positive impact of the ongoing US mailing systems decertification, though this impact is expected to conclude in Q1 2025. Lastly, Quadient aims at upgrading Frama’s installed base and initiating some cross-selling to promote its Digital offer to Frama’s customers.

    At the end of January 2025, already 42.4% of Quadient installed base has been upgraded with its newest technology.

    Lockers

    Lockers revenue reached €94 million in FY 2024, a +4.3% increase on an organic basis, with strong momentum in the latter part of the year (+8.0% in Q4 2024 vs. Q4 2023, after a strong Q3 2024, up +14.3% year-on-year) and a +5.7% increase on a reported basis compared to FY 2023, including a marginal contribution from Package Concierge.

    Subscription-related revenue was up 11.5% organically in FY 2024 (+19.6% in Q4 2024 vs. Q4 2023), benefiting from:

    • the continued strong volumes ramp up in the British and the French open networks;
    • the sustained strong momentum in the US, driven by higher monetization of usage fees;
    • a resilient performance in Japan, despite an unfavorable e-commerce environment.

    Overall, subscription-related revenue stood at 64% of total revenue in FY 2024, up from 61% in FY 2023.

    Non-recurring revenue (license & hardware sales and professional services) were down 6.8% organically in FY 2024. Hardware sales were still impacted by slower new installations in North America.

    Quadient’s global locker installed base reached c.25,700 units at the end of FY 2024, including c. 3,000 units from Package Concierge, vs. c.20,200 units at the end of FY 2023. This is reflecting an acceleration in the pace of installation of new lockers, notably in the UK, fueled by the partnerships signed by Quadient to host parcel lockers in new suitable locations.

    EBITDA for Lockers was above breakeven, at €1 million in FY 2024. EBITDA margin stood at 0.6%, up by 3.6 points compared to FY 2023. This significant profitability improvement, illustrated by a 6.7% EBITDA margin in H2 2024, was driven by growing recurring revenue and increased usage. Additionally, the revised commercial agreement with Yamato for the Japanese installed base was implemented at the beginning of H2 2023.

    As part of the customer acquisition focus, Quadient is accelerating the pace of installation for new lockers in its open networks in Europe, mostly in France and the UK, with installed base up 145% year-on-year. This is supported by the additional deals signed for premium locations (including Morrisons Daily Stores and ScotRail…). Additionally, the trend for new installations in North America has turned positive in Q4, where market share leadership position in Residences and Universities remains robust.

    As part of the customer expansion strategy, volumes from both pick-up and drop-off in European open networks saw a significant increase, growing sevenfold between Q4 2023 and Q4 2024. The momentum in North America for the locker network, particularly across the multifamily sector and higher education campuses was strong in Q4 2024. In Japan, macroeconomic conditions have impacted parcel volumes, but new initiatives, such as the new partnership with Japan Post, are aimed at driving volume growth and increasing adoption.

    REVIEW OF 2024 FULL-YEAR RESULTS

    Simplified P&L

    In € million FY 2024 FY 2023 Change
    Sales 1,093 1,062 +2.8%
    Gross profit 818 788 +3.7%
    Gross margin 74.8% 74.2%  
    EBITDA 247 244 +1.2%
    EBITDA margin 22.6% 23.0%  
    Current EBIT 146 147 (0.5)%
    Current EBIT margin 13.4% 13.8%  
    Optimization expenses and other operating income & expenses (23) (15) +58.0%
    EBIT 123 132 (7.0)%
    Financial income/(expense) (39) (31) +24.8%
    Income before tax 84 101 (16.8)%
    Share of results of associated companies 1 (0) n/a
    Income taxes (17) (17) +2.8%
    Net income of continued operations 68 84 (19.4)%
    Net income from discontinued operations (0) (14) (98.7)%
    Net attributable income 66 69 (3.4)%
    Earnings per share 1.94 2.02  
    Diluted earnings per share 1.94 2.01  
     

    Gross margin stood at 74.8% in FY 2024 slightly up compared to FY 2023, due to lower cost of sales.

    EBITDA(1) for the Group reached €247 million in FY 2024, up €3 million compared to FY 2023. EBITDA grew by 3.0% organically, driven by strong growth of 80% in Digital and improved profitability in Lockers, which more than compensated for the softer EBITDA performance in Mail. The EBITDA margin reached 22.6% in FY 2024. It was almost stable compared to FY 2023: despite the impact of the change in revenue mix and the dilutive effect of Frama acquisition, the Group EBITDA margin was supported by significant profitability gains in Digital and Lockers.

    Depreciation and amortization stood at €101 million in FY 2024, compared to €98 million in FY 2023. This slightly higher depreciation mainly reflects the increase in Lockers’ asset base.

    Current operating income (current EBIT) reached €146 million in FY 2024 compared to €147 million in FY 2023, up 2.2% on an organic basis. Current EBIT margin stood at 13.4% of sales in FY 2024 compared to 13.8% in FY 2023.

    Optimization costs and other operating expenses stood at €23 million in FY 2024, versus €15 million in FY 2023. This increase mainly relates to the write-off of an IT project, additional office optimization and Frama restructuring costs.

    Consequently, EBIT reached €123 million in FY 2024, versus €132 million recorded in FY 2023.

    Net attributable income

    Net cost of debt was up from €29 million in FY 2023 to €39 million in FY 2024, impacted by higher interest rates. The currency gains & losses and other financial items was broadly flat in FY 2024, compared to a loss of €2 in FY 2023. Overall, net financial result was a loss of €39 million in FY 2024 compared to a loss of €31 million in FY 2023.

    Income tax expense was stable year-on-year at €17 million.

    Net income from discontinued operations of the Mail Italian subsidiary was null in FY 2024, compared to a €14 million loss in FY 2023. This loss included exceptional charges related to the sale process for this subsidiary, which was sold to a local mail distribution company in October 2024.

    Net attributable income after minority interests amounted to €66 million in FY 2024 compared to €69 million in FY 2023.

    Earnings per share(2) stood at €1.94 in FY 2024 compared to €2.02 in FY 2023. The fully diluted earnings per share(2) was €1.94 in FY 2024 compared to €2.01 in FY 2023.

    Cash flow generation

    The change in working capital was a net cash inflow of €9 million in FY 2024 compared to a net cash outflow of €6 million in FY 2023, mostly reflecting the positive impact from timing on prepaid expenses and customers deposits.

    The leasing portfolio and other financing services stood at €623 million as of 31 January 2025, compared to €598 million as of 31 January 2024, up on an organic basis (i.e. excluding currency impact of €18 million) for the first time in several years thanks to good hardware placements in Mail. While generating future subscription-related revenue, this increase in lease receivables resulting from the good performance in the placement of new equipment translates into a cash outflow of
    €7 million in FY 2024. At the end of FY 2024, the default rate of the leasing portfolio stood at around 1.1% compared to c.1.3% at the end of FY 2023.

    Interest and taxes paid increased to €67 million in FY 2024 versus the amount of €55 million paid in FY 2023. The difference was mostly explained by higher interest rates in FY 2024.

    Capital expenditure reached €108 million in FY 2024, up €7 million compared to FY 2023, mostly due to UK locker open network deployment. Capex for Digital reached €24 million in FY 2024, slightly up compared to €22 million in FY 2023 and was mainly focused on R&D and platform development. Capex for Mail remained at fairly high level of €51 million
    (vs. €53 million in FY 2023), due to continued high placement of machines related to the US decertification, which is expected to end in Q1 2025. Capex for Lockers increased from €26 million to €33 million to support the ramp-up of the deployment of the open network in the UK. The sale of Frama real estate in Switzerland generated €6 million in cash inflows in FY 2024.

    All in all, cash flow after capital expenditure (free cash flow) reached €66 million in FY 2024, compared to €64 million in FY 2023.

    Leverage and liquidity position

    Net debt stood at €741 million as of 31 January 2025, a slight increase against €709 million as of 31 January 2024. In FY 2024, Quadient successfully raised approximately €325 million in new facilities, including the following transactions in H2 2024:

    • in October 2024, the Company secured EBRD financing, including a €25 million Schuldschein;
    • in December 2024, the Company secured a USD 50 million bank loan;
    • in January 2025, Quadient further strengthened its financial position with the issuance of a USD 100 million USPP.

    These new facilities enabled Quadient to repay post-closing its €260 million bond due in February 2025 and settle the repayment of Schuldschein loans for €29 million, also due in early 2025. As a result of these transactions, the Company’s average debt maturity has been extended to four years as of the end of February 2025, compared to three years at the end of FY 2023.

    The leverage ratio (net debt/EBITDA) remained broadly stable at 3.0x(3) as of 31 January 2025 compared to 2.9x(3) as of 31 January 2024. Excluding leasing, Quadient leverage ratio remained stable at 1.7x(3) as of 31 January 2025, despite the acquisitions of Frama and Package Concierge in 2024, as well as the implementation of a share buyback programs.

    As of 31 January 2025, the Group had a strong liquidity position of €667 million, split between €367 million in cash and a €300 million undrawn credit line, maturing in 2029.

    Shareholders’ equity stood at €1,113 million as of 31 January 2025 compared to €1,069 million as of 31 January 2024. The gearing ratio(4) stood at 66.6% as of 31 January 2025.

    SHAREHOLDER’ RETURN

    Proposed dividend for FY 2024 stands at €0.70 per share, representing an 8% increase against FY 2023, and a payout ratio of 36.1% of net income, higher than Quadient’s minimum 20% pay-out ratio of net income as per the Group’s dividend policy. This represents a €0.05 year-on-year increase, for the fourth consecutive year. The dividend is subject to approval by the Annual General Meeting, scheduled for 13 June 2025, and will be paid in cash in one instalment on 6 August 2025.

    In addition, Quadient’s announced in September 2024 the launch of a share buyback program for a total consideration of up to €30 million. To date, €10 million worth of shares have been repurchased, with the program set to be executed over an
    18-month(5) period. This operation demonstrates Quadient’s confidence in the value creation potential of its “Elevate to 2030” strategic plan, its ability to reach its FY 2026 leverage ratio target(6) and is in line with the capital allocation policy of the Company, while improving shareholders’ return.

    OUTLOOK

    The evolving dynamics within Quadient’s business portfolio, characterized by strong growth in Digital and Lockers revenue alongside a moderate decline in Mail revenue, will naturally drive a year-on-year acceleration in the Company’s total revenue growth.

    As Digital and Lockers continue to expand their share of Quadient’s revenue and profit, while simultaneously improving their profitability, this shift is expected to contribute to a higher growth in current EBIT

    As a result, Quadient targets an acceleration in organic revenue growth and in current EBIT organic growth in 2025 compared to 2024.

    Quadient also confirms its 3-year guidance for the 2024-2026 period of minimum 1.5% organic revenue CAGR and minimum 3% organic current EBIT CAGR.

    Q4 2024 BUSINESS HIGHLIGHTS

    Avaloq and Quadient Partner to Elevate Client Communications for Financial Services
    On 3 December 2024, Quadient and Avaloq announced today their partnership to offer unrivaled customer communications management (CCM) capabilities for the financial services industry. Avaloq has selected Quadient Inspire as its standard CCM solution, seamlessly integrating it into the Avaloq platform.

    Quadient Launches SimplyMail in Europe to Help Small Businesses Leverage Digital Solutions to Enhance Efficiency in Mail Operations
    On 11 December 2024, Quadient announced the launch in Europe of SimplyMail, a solution designed to address the growing needs for smaller businesses to automate and optimize their mail operations with ease.

    Quadient Named a Worldwide Automated Document Generation and CCM Leader by IDC
    On 12 December 2024, Quadient announced it has been named a Leader in the IDC MarketScape: Worldwide Automated Document Generation and Customer Communication Management 2024 Vendor Assessment.

    Quadient Recognized in Two IDC MarketScape Reports for Accounts Receivable Automation Applications
    On 16 December 2024, announced it has been named a Leader in the IDC MarketScape: Worldwide Accounts Receivable Automation Applications for Small and Midmarket 2024 Vendor Assessment. Additionally, Quadient has been recognized for the first time as a Major Player in the IDC MarketScape: Worldwide Accounts Receivable Automation Applications for the Enterprise 2024 Vendor Assessment.

    Quadient Surpasses 25,000 Global Locker Installations with US Package Concierge Acquisition, Setting Sights on Exceeding €100M of Locker Revenue in 2025
    On 18 December 2024, Quadient announced the acquisition of US-based parcel management solutions provider Package Concierge®, exceeding the 25,000-unit mark in its global installed base. Package Concierge provides innovative digital locker technology that addresses the growing challenges of package management in residential, commercial, retail and university campuses across the United States.

    Quadient strengthens its financial position with a USD50 million bank loan from Bank of America
    On 20 December 2024, announced a USD50 million bank loan from Bank of America. This new credit facility, which comes with a 3-year maturity at a variable rate, strengthens Quadient’s financial position ahead of debt maturities due in 2025.

    Report by Leading Analyst Firm Shows Quadient Recorded the Fastest Growth in 2023 Among CCM Market Leaders
    On 10 January 2025, Quadient announced that a newly released report by market research and consulting firm IDC shows Quadient rapidly closing the gap on the top position. Quadient’s 13.7% year-on-year revenue growth in 2023 has accelerated from its 11% growth in 2022. This is also the fastest growth among the major Customer Communications Management (CCM) vendors globally, outperforming the overall market growth.

    Quadient Secures New c.$1.6 Million Contract to Enhance US Government Agency’s Mail Automation Capacity
    On 14 January 2025, Quadient announced that it has been selected by a US government agency to modernize its mail automation infrastructure in a contract valued at c.$1.6 million. This follows a previous announcement in October 2024, where Quadient was awarded a contract worth nearly $1 million for a similar modernization project with another federal agency.

    Leading Human Resources Technology Company Selects Quadient for Accessibility Compliance in Customer Communications
    On 16 January 2025, Quadient announced that a leading US provider of integrated benefits, payroll, and human resources cloud solutions has selected customer communications management (CCM) platform Quadient Inspire to ensure accessibility compliance for its US federal agency client.

    Quadient Partners with ScotRail to Introduce Parcel Lockers at Stations Across Scotland
    On 21 January 2025, Quadient announced a partnership with ScotRail to deploy Parcel Pending by Quadient automated lockers across Scotland’s rail network. ScotRail, Scotland’s national rail operator, is enhancing its passenger experience and operational efficiency with the installation of parcel lockers in its stations.

    Quadient strengthens its financial position through a USD100 million US Private Placement from MetLife
    On 22 January 2025, Quadient announced that it has signed a new USD100 million US Private Placement (USPP) with MetLife Investment Management (“MIM”), reinforcing its financial position. This new USPP of USD 100 million senior notes has a
    7-year average maturity and comes with an additional shelf facility allowing the issue of senior notes for a maximum aggregate principal amount of USD50 million.

    Quadient Teams Up with Buzz Bingo to Bring Convenient Parcel Lockers to Bingo Clubs Across the UK
    On 28 January 2025, Quadient announced a partnership with Buzz Bingo to deploy Parcel Pending by Quadient automated lockers in 35 of its 81 bingo clubs across the UK, with plans for further installations in the future. This collaboration enhances parcel collection, delivery, and return convenience while improving the customer experience at Buzz Bingo locations.

    Leading US Law Firm Chooses Quadient in a Deal Over $1M to Streamline Mailing, Shipping, and Accounting Processes
    On 30 January 2025, Quadient announced a new contract with one of the largest injury law firms in the US, transitioning the firm from its long-standing provider to Quadient. Under the new agreement, worth over 1 million dollars, the firm is rolling out nearly 100 Quadient iX-Series mailing systems at offices across the country, all seamlessly integrated with Quadient’s cloud-based S.M.A.R.T. accounting and shipping software.

    Quadient Reports Strong Year-End Locker Usage Growth in Multifamily and Higher Education Campuses in North America
    On 31 January 2025, Quadient announced strong year-end momentum in the adoption and usage of its Parcel Pending by Quadient locker network across multifamily and higher education campuses in North America.

    POST-CLOSING EVENTS

    Morrisons Partners with Quadient for Convenient Parcel Delivery at its Morrisons Daily Stores
    On 18 February 2025, Quadient announced a new partnership with Morrisons. The partnership will see Parcel Pending by Quadient parcel lockers installed at 230 Morrisons Daily stores by spring 2025.

    Quadient Enables New Shipping Service with Japan Post on its Open Locker Network, Driving Convenience and Increased Parcel Volume
    On 3 March 2025, Quadient announced an expanded partnership between Japan Post and Packcity Japan, a joint venture between Quadient and Yamato Transport. Thanks to the extended partnership, consumers will not only receive Japan Post deliveries at Packcity Japan’s nationwide open network of automated parcel lockers, but they will also now be able to ship parcels from the lockers, called PUDO stations. Consumers using Japan Post’s Yu-Pack parcel service use a mobile app to ship from a PUDO station, eliminating the need to wait at delivery counters or manually handling shipping slips.

    Quadient Maintains Leader Position on Aspire Leaderboard for Customer Communications and Interaction Experience Software
    On 13 March 2025, Quadient announced it has maintained its leadership position on the Aspire Leaderboard. Produced by independent advisory firm Aspire CCS, the Aspire Leaderboard highlights and compares vendors in the customer communications management (CCM) and customer experience management software space. It is updated in real-time as vendors release enhancements and adjust strategies.

    To know more about Quadient’s news flow, previous press releases are available on our website at the following address: https://invest.quadient.com/en/newsroom.

    CONFERENCE CALL & WEBCAST

    Quadient will host a conference call and webcast today at 6:00 pm Paris time (5:00 pm London time).

    To join the webcast, click on the following link: Webcast.

    To join the conference call, please use one of the following phone numbers:

    ▪ France: +33 (0) 1 70 37 71 66.
    ▪ United States: +1 786 697 3501.
    ▪ United Kingdom (standard international): +44 (0) 33 0551 0200.

    Password: Quadient

    A replay of the webcast will also be available on Quadient’s Investor Relations website for 12 months.


     

    Calendar

    • 3 June 2025: Q1 2025 sales release (after close of trading on the Euronext Paris regulated market)
    • 13 June 2025: Annual General Meeting

    About Quadient®

    Quadient is a global automation platform provider powering secure and sustainable business connections through digital and physical channels. Quadient supports businesses of all sizes in their digital transformation and growth journey, unlocking operational efficiency and creating meaningful customer experiences. Listed in compartment B of Euronext Paris (QDT) and part of the CAC® Mid & Small and EnterNext® Tech 40 indices, Quadient shares are eligible for PEA-PME investing.

    For more information about Quadient, visit https://invest.quadient.com/en/.

    Contacts

    APPENDIX

    Digital: New name for Intelligent Communication Automation

    Mail: New name for Mail-Related Solutions

    Lockers: New name for Parcel Locker Solutions

    FY 2024 and Q4 2024 consolidated sales

    FY 2024 consolidated sales by geography

    In € million 2024 2023 Change Organic
    change
    North America 632 607 +4.0% +2.8%
    Main European countries(a) 369 354 +4.5% (2.0)%
    International(b) 92 101 (9.7)% (5.4)%
    Group total 1,093 1,062 +2.8% +0.4%
    1. Including Austria, Benelux, France, Germany, Ireland, Italy (excluding Mail), Switzerland, and the United Kingdom
    2. International includes the activities of Digital, Mail and Lockers outside of North America and the Main European countries

    Q4 2024 consolidated sales by Solution

    In € million Q4 2024 Q4 2023 Change Organic change
    Digital 73 65 +11.5% +10.1%
    Mail 196 196 (0.3)% (4.6)%
    Lockers 27 22 +20.2% +8.0%
    Group total 295 284 +4.1% (0.2)%
     

    Q4 2024 consolidated sales by geography

    In € million Q4 2024 Q4 2023 Change Organic
    change
    North America 171 160 +7.0% +2.5%
    Main European countries(a) 100 97 +3.3% (2.9)%
    International(b) 24 27 (10.7)% (6.9)%
    Group total 295 284 +4.1% (0.2)%
    1. Including Austria, Benelux, France, Germany, Ireland, Italy (excluding Mail), Switzerland, and the United Kingdom
    2. International includes the activities of Digital, Mail and Lockers outside of North America and the Main European countries

    Financial statements – Full-year 2024

    Consolidated income statement

    In € million FY 2024
    (period ended
    on 31 January 2025)    		 FY 2023
    (period ended
    on 31 January 2024)
    Sales 1,093 1,062
    Cost of sales (275) (274)
    Gross margin 818 788
    R&D expenses (63) (63)
    Sales and marketing expenses (287) (275)
    Administrative and general expenses (187) (176)
    Service and support expenses (116) (109)
    Employee profit-sharing, share-based payments and other expenses (10) (7)
    M&A and strategic projects expenses (8) (11)
    Current operating income 146 147
    Optimization expenses and other operating income & expenses (23) (15)
    Operating income 123 132
    Financial income/(expense) (39) (31)
    Income before taxes 84 101
    Income taxes (17) (17)
    Share of results of associated companies 1 (0)
    Net income from continued operations 68 84
    Net income of discontinued operations (0) (14)
    Net income 67 70
    Of which:

    • Minority interests
    		 1 1
    • Net attributable income
    		 66 69

    Simplified consolidated balance sheet

    Assets
    In € million    		 FY 2024
    (period ended
    on 31 January 2025)    		 FY 2023
    (period ended
    on 31 January 2024)
    Goodwill 1,131 1,082
    Intangible fixed assets 119 121
    Tangible fixed assets 170 156
    Other non-current financial assets 65 65
    Other non-current receivables 2 2
    Leasing receivables 623 598
    Deferred tax assets 38 17
    Inventories 75 67
    Receivables 240 228
    Other current assets 79 84
    Cash and cash equivalents 367 118
    Current financial instruments 1 2
    Assets held for sale 0 9
    TOTAL ASSETS 2,910 2,550
    Liabilities
    In € million    		 FY 2024
    (period ended
    on 31 January 2025)    		 FY 2023
    (period ended
    on 31 January 2024)
    Shareholders’ equity 1,113 1,069
    Non-current provisions 12 12
    Non-current financial debt 722 715
    Current financial debt 347 66
    Lease obligations 38 46
    Other non-current liabilities 3 2
    Deferred tax liabilities 101 104
    Financial instruments 5 5
    Trade payables 104 79
    Deferred income 223 212
    Other current liabilities 242 225
    Liabilities held for sale 0 15
    TOTAL LIABILITIES 2,910 2,550

    Simplified cash flow statement

     

    In €millions

    		 FY 2024
    (period ended
    on 31 January 2025)    		 FY 2023
    (period ended
    on 31 January 2024)
    EBITDA 247 244
    Other elements (15) (19)
    Cash flow before net cost of debt and income tax 233 225
    Change in the working capital requirement 9 (6)
    Net change in leasing receivables (7) (0)
    Cash flow from operating activities 235 219
    Interest and tax paid (67) (55)
    Net cash flow from operating activities 168 165
    Capital expenditure (108) (101)
    Disposal of assets 6 0
    Net cash flow after investing activities 66 64
    Impact of changes in scope (37) (5)
    Net cash flow after acquisitions and divestments 29 59
    Dividends paid (22) (21)
    Change in debt and others 219 (39)
    Net cash flow after financing activities 226 (1)
    Cumulative translation adjustments on cash (6) (2)
    Net cash from discontinued operations (1) (9)
    Change in net cash position 219 (11)

    ([1]) EBITDA = current operating income + provisions for depreciation of tangible and intangible fixed assets.
    ([2]) For the FY 2024, the average compounded number of shares is 34,114,060. Diluted number of shares is 34,486,288.
    ([3]) Including IFRS 16
    ([4]) Net debt / shareholder’s equity
    ([5]) Subject to the renewal of the share buyback authorizations at the 2025 AGM
    ([6]) FY 2026 leverage ratio excluding leasing target of 1.5x

    Attachment

    The MIL Network –

  • MIL-OSI: WithSecure Corporation: SHARE REPURCHASE 26.3.2025

    Source: GlobeNewswire (MIL-OSI)

    WithSecure Corporation, STOCK EXCHANGE RELEASE, 26 March 2025 at 6.30 PM (EET)
         
         
    WithSecure Corporation: SHARE REPURCHASE 26.3.2025
         
    In the Helsinki Stock Exchange    
         
    Trade date           26.3.2025  
    Bourse trade         Buy  
    Share                  WITH  
    Amount             10 000 Shares
    Average price/ share    0,9560 EUR
    Total cost            9 560,00 EUR
         
         
    WithSecure Corporation now holds a total of 266 890 shares
    including the shares repurchased on 26.3.2025  
         
    The share buybacks are executed in compliance with Regulation 
    No. 596/2014 of the European Parliament and Council (MAR) Article 5
    and the Commission Delegated Regulation (EU) 2016/1052.
         
         
    On behalf of Withsecure Corporation  
         
    Nordea Bank Oyj    
         
    Janne Sarvikivi           Sami Huttunen  
         
         
    Contact information:    
    Laura Viita    
    Vice President Controlling, Investor relations and Sustainability
    WithSecure Corporation    
    Tel. +358 50 4871044    
    Investor-relations@withsecure.com    

    Attachment

    The MIL Network –

  • MIL-OSI United Kingdom: Spring Statement 2025 speech

    Source: United Kingdom – Executive Government & Departments 3

    Speech

    Spring Statement 2025 speech

    Spring Statement 2025 speech as delivered by Chancellor Rachel Reeves.

    Mr Speaker, [political content redacted]. 

    To provide security for working people. 

    And to deliver a decade of national renewal. 

    That work began in July – and I am proud of what we have delivered in just nine months. 

    Restoring stability to our public finances…  

    … giving the Bank of England the foundation to cut interest rates…  

    … three times since the General Election.  

    Rebuilding our public services… 

    … with record investment in our NHS… 

    … bringing waiting lists down for 5 months in a row.   

    And increasing the National Living Wage… 

    … to give 3 million people a pay rise from next week.  

    Now our task is to secure Britain’s future… 

    … in a world that is changing before our eyes.  

    The threat facing our continent was transformed when Putin invaded Ukraine. 

    It has since escalated further…  

    … and continues to evolve rapidly.  

    At the same time, the global economy has become more uncertain…  

    … bringing insecurity at home… 

    … as trading patterns become more unstable… 

    … and borrowing costs rise for many major economies.  

    Mr Speaker, the job of a responsible government is not simply to watch this change. 

    This moment demands an active government. 

    A government not stepping back, but stepping up.  

    A government on the side of working people…  

    … helping Britain to reach its potential.  

    We have the strengths to do just that… 

    … as one of the world’s largest economies … 

    … an ally to trading partners across the globe…  

    … and a hub for global innovation.  

    These strengths… 

    … and the progress we have made so far… 

    … mean we can act quickly and decisively in a more uncertain world… 

    … to secure Britain’s future… 

    … and to deliver prosperity for working people. 

    Mr Speaker, as I set out at the Budget last year… 

    … I am today returning to the House to provide an update on our public finances… 

    … supported by a new forecast from the independent Office for Budget Responsibility… 

    … ahead of a full Spending Review in June. 

    I will then return to the House in the autumn to deliver a budget… 

    … in line with our commitment to deliver just one major fiscal event a year. 

    So let me turn now to the OBR’s forecasts… 

    … and I want to thank Richard Hughes and his team for their dedicated work. 

    The increased global uncertainty has had two consequences. 

    First, on our public finances. 

    And second, on our economy. 

    I will take each in turn.  

    In the autumn, I set out new fiscal rules that would guide this government. 

    These fiscal rules are non-negotiable. 

    They are the embodiment of this government’s unwavering commitment… 

    … to bring stability to our economy… 

    … and to ensure security for working people. 

    [political content redacted]

    But we must earn that trust every single day.  

    The two fiscal rules that I set out at the Budget were… 

    First, our “Stability Rule”, which ensures that public spending is under control… 

    … balancing the current budget by 2029-30… 

    … so that day-to-day spending is met by tax receipts.  

    Second, our “Investment Rule” to drive growth in the economy… 

    … ensuring that net financial debt falls by the end of the forecast period…  

    … while enabling us to invest alongside business. 

    Turning first to the Stability Rule, the OBR’s forecast shows that… 

    … before the steps that I will take in this statement…  

    … the current budget would have been in deficit by £4.1bn in 2029-30… 

    … having been in surplus by £9.9bn in the autumn…  

    … as the UK, alongside our international peers like France and Germany… 

    … has seen the cost of borrowing rise during this period of heightened uncertainty in global markets. 

    As a result of the steps that I am taking today… 

    … I can confirm that I have restored in full our headroom against the “stability rule”…  

    … moving from a deficit of £36.1bn in 2025-26 and £13.4bn in 2026-27… 

    … to a surplus of £6.0bn in 2027-28, £7.1bn in 2028-29 and a surplus of £9.9bn in 2029-30. 

    [political content redacted]

    That means that we are continuing to meet the Stability Rule two years early…  

    … building resilience to shocks in this, a more uncertain world.  

    The OBR forecast that the “investment rule” is also met two years early… 

    … with net financial debt of 82.9% of GDP in 2025-26 and 83.5% in 2026-27… 

    … before falling from 83.4% in 2027-28, to 83.2% in 2028-29 and 82.7% in 2029-30…  

    … providing headroom of £15.1bn in the final year of the forecast… 

    … broadly unchanged from the autumn.  

    [political content redacted]

    … debt interest payments now stands at £105.2bn this year… 

    … Mr Speaker, that is more than we allocate on Defence, the Home Office and Justice combined. 

    [political content redacted]

    So the responsible choice is to reduce our levels of debt and borrowing in the years ahead… 

    … so that we can spend more on the priorities of working people. And that is exactly what this government will do. 

    Mr Speaker. 

    I said that our fiscal rules were non-negotiable. 

    And I meant it. 

    I will always deliver economic stability. 

    And I will always put working people first.  

    [political content redacted]

    I said it at the Budget. 

    And I say it again today. 

    Let me now set out the steps the government has taken.  

    At the Budget we protected working people… 

    … by keeping our promise not to raise their rates of National Insurance, income tax or VAT. 

    At the same time, we began to rebuild our public services…  

    [political content redacted]

    Ours were the right choices, the right choices for stability and the right choices for renewal… 

    … funded by the decisions that we took on tax.  

    As I promised in the autumn, this Statement does not contain any further tax increases.  

    But when working people are paying their taxes, while still struggling with the cost-of-living…  

    …it cannot be right that others are still evading what they rightly owe in tax.  

    In the Budget, I delivered the most ambitious package of measures that we have ever seen… 

    … to cut down on tax evasion… 

    … raising £6.5bn per year by the end of the forecast.  

    Today, I go further… 

    … continuing our investment in cutting-edge technology … 

    … investing in the HMRC’s capacity to crack down on tax avoidance… 

    … and setting out plans to increase the number of tax fraudsters charged every year by 20%. 

    These changes raise a further £1bn… 

    … taking the total revenue raised from reducing tax evasion under this [political content redacted] government to £7.5bn… 

    … figures verified by the Office for Budget Responsibility…  

    … and I want to thank my Honourable Friend the Exchequer Secretary for his continued work in this area.  

    Mr Speaker, last week my Right Honourable Friend the Secretary of State for Work and Pensions, set out this government’s plans to reform the welfare system.  

    [political content redacted]

    We believe that if you can work, you should work… 

    … but if you can’t work, you should be properly supported.  

    This government inherited a broken system.  

    More than 1,000 people are qualifying for Personal Independence Payments. 

    And 1 in 8 young people are not in employment, education or training. 

    If we do nothing, we are writing off an entire generation.  

    That cannot be right and we will not stand it.  

    It is a waste of their potential and it is a waste of their futures and we will change it. 

    As my Right Honourable Friend said in her statement last week… 

    … the final costings would be subject to the OBR’s assessment. 

    Today, the OBR have said… 

    … that they estimate the package will save £4.8bn in the welfare budget… 

    … reflecting their judgements on behavioural effects and wider factors. 

    This also reflects final adjustments to the overall package… 

    … consistent with the Secretary of State’s statement last week… 

    … and the government’s Pathways to Work Green Paper. 

    The Universal Credit Standard Allowance will increase from £92 per week in 2025-26 to £106 per week by 2029-30… 

    … while the Universal Credit Health element will be cut for new claimants by 50% and then frozen.  

    On top of this, we are investing £1bn to provide guaranteed, personalised employment support to help people back into work… 

    … and £400m to support the Department for Work and Pensions and our Job Centres to deliver these changes effectively and fairly… 

    … taking total savings after that for the package to £3.4bn. 

    Whilst spending on disability and sickness benefits will continue to raise, these plans 

    mean that welfare spending as a share of GDP will fall between 2026-27 and the end of the forecast period.  

    [political content redacted]

    We are reforming our welfare system… 

    … making it more sustainable… 

    … protecting the most vulnerable… 

    … and supporting more people back into secure work lifting them out of poverty.  

    Mr Speaker, at the Budget, I fixed the foundations of our economy to deliver on the promise of change. 

    That work has already begun. 

    2 million extra appointments in our NHS. 

    Waiting lists down.  

    New breakfast clubs opening across England. 

    The largest settlements in real terms for Scotland, Wales and Northern Ireland in the history of devolution.  

    Asylum costs, falling. 

    Promises made, promises kept.  

    [political content redacted]

    At the Budget… 

    … alongside providing an increase in funding for this year and next… 

    … I set the envelope for the Spending Review… 

    … which we will deliver in June… 

    led by my RHF the Chief Secretary to the Treasury 

    … to set departmental budgets until 2028-29 for day-to-day spending… 

    … and until 2029-30 for capital spending.  

    Today, I am reflecting two steps that we have taken in our spending plans.  

    First, because we are living in an uncertain world… 

    … as the Prime Minister has set out… 

    … we will increase defence spending to 2.5% of GDP, reducing overseas aid to 0.3% of Gross National Income. 

    This means we save £2.6bn in day-to-day spending in 2029-30… 

    … to fund our more capital-intensive defence commitments.  

    Second, in recent months, we have begun to fundamentally reform the British state… 

    … driving efficiency and productivity across government… 

    … to deliver tangible savings… 

    … and improve services across our country. 

    Earlier this month, the Prime Minister set out our plans to abolish the arms-length body NHS England… 

    … and ensure that money goes directly to improving the service for patients. 

    My Right Honourable Friend the Health Secretary is driving forward vital reforms to increase NHS productivity… 

    … bearing down on costly agency spend… 

    … to save money so that we can improve patient care. 

    And my Right Honourable Friend the Chancellor of the Duchy of Lancaster is taking forward work to significantly reduce the costs of running government… 

    … by 15%, worth £2bn, by the end of the decade. 

    This work shows that we can make our state leaner, and more agile… 

    … delivering more resources to the frontline…  

    … while ensuring we control day-to-day spending to meet our fiscal rules. 

    Today, I build on that work… 

    … by bringing forward £3.25bn of investment… 

    … to deliver the reforms that our public services need…  

    … through a new Transformation Fund.  

    That is money brought forward now… 

    … to bring down the costs of running government by the end of the forecast period…   

    … by making public services more efficient, more productive and more foucssed on the user. 

    I can confirm today the first allocations from this fund… 

    … including funding for Voluntary Exit Schemes to reduce the size of the Civil Service… 

    … pioneering AI tools to modernise the state… 

    … investment in technology for the Ministry of Justice to deliver probation services more effectively… 

    … and up-front investment so we can support more children in foster care… 

    … to give them the best possible start in life… 

    … and reduce cost pressures in the future. 

    Our work to make government leaner… 

    … more productive… 

    … and more efficient… 

    … will help deliver a further £3.5bn of day-to-day savings by 2029-30. 

    Overall, day-to-day spending will be reduced by £6.1bn by 2029-30…  

    … and it will now grow by an average of 1.2% a year above inflation…  

    … compared to 1.3% in the Autumn. 

    Mr Speaker, I can confirm to the House that day-to-day spending will increase in real terms, above inflation, in every single year of the forecast.  

    And in the Spending Review, apart from the reduction in overseas aid… 

    … day-to-day spending across government has been fully protected.   

    I can also confirm our approach to capital investment.  

    In the Autumn Budget I announced £100bn of additional capital spending…  

    … to crowd in investment from the private sector… 

    … to fix our crumbling infrastructure…  

    … and to create jobs in every corner of our country. 

    [political content redacted]

    Today, I am instead increasing capital spending … 

    … by an average of £2bn per year compared to the Autumn…  

    … to drive growth in our economy… 

    … and to deliver in full our vital commitments on defence. 

    This government will ensure that every pound we spend will deliver for the British people… 

    … by increasing productivity… 

    … driving growth in our economy… 

    … and improving our frontline public services.  

    Mr Speaker, let me turn now to the impact of increased uncertainty on our economy. 

    To deliver economic stability, we must work closely with the Bank of England… 

    … supporting the independent Monetary Policy Committee to meet their 2% inflation target.  

    There have been three interest rate cuts since the General Election and today’s data showed that inflation fell in February. 

    [political content redacted]

    … the OBR forecast that CPI inflation will average 3.2% this year… 

    … before falling rapidly to 2.1% in 2026 and meeting the 2% target from 2027 onwards… 

    … giving families and businesses the security that they need… 

    … and providing our economy with the stable platform it needs to grow. 

    Mr Speaker… 

    … earlier this month, the OECD downgraded this year’s growth forecast for every G7 economy, including the UK. 

    And the OBR have today revised our growth forecast for 2025… 

    … from 2% in the autumn… 

    … to 1% today. 

    I am not satisfied with these numbers. 

    That is why we on this side of the house are serious about taking the action needed to grow our economy.  

    Backing the builders, not the blockers…  

    … with a third runway at Heathrow Airport… 

    … and the Planning and Infrastructure Bill.  

    Increasing investment… 

    … with reforms to our pension system… 

    … and a new National Wealth Fund.  

    And tearing down regulatory barriers… 

    … in every sector of our economy. 

    That is a serious plan for growth. 

    That is a serious plan to improve living standards.  

    That is a serious plan to renew our country.  

    Mr Speaker, a changing world presents challenges.  

    But it also presents new opportunities.  

    For new jobs. 

    … and new contracts… 

    … in our world-class defence industrial centres… 

    … from Belfast to Deeside, and from Plymouth to Rosyth. 

    In February, the Prime Minister set out our government’s commitment to increase spending on defence to 2.5% of GDP from April 2027… 

    The biggest sustained increase in defence spending since the end of the Cold War 

    …and an ambition to spend 3% of GDP on defence in the next parliament. 

    That was the right decision in a more insecure world… 

    … putting an extra £6.4bn into defence spending by 2027. 

    But we have to move quickly in this changing world. 

    And that starts with investment. 

    So today I can confirm that I will provide an additional £2.2bn for the Ministry of Defence in the next financial year… 

    … a further downpayment on our plans to deliver 2.5% of GDP by 2027.  

    This additional investment is not just about increasing our national security…  

    … but increasing our economic security, too.  

    As defence spending rises, I want the whole country to feel its benefits. 

    So I will set out the immediate steps that we are taking to boost Britain’s defence industry… 

    … and to make the UK a defence industrial superpower.  

    We will spend a minimum of 10% of the Ministry of Defence’s equipment budget on novel technologies … 

    … including drones and AI enabled technology… 

    … driving forward advanced manufacturing production in places like Glasgow, in Derby and in Newport… 

    … creating demand for highly skilled engineers and scientists… 

    … and delivering new business opportunities for UK tech firms and start-ups.  

    We will establish a protected budget of £400m within the Ministry of Defence… 

    … a budget that will rise over time for UK Defence Innovation… 

    … with a clear mandate to bring innovative technology to the front line at speed. 

    We will reform our broken defence procurement system… 

    … making it quicker, more agile and more streamlined…. 

    … and giving small businesses across the UK better access to Ministry of Defence contracts. 

    Something welcomed by the Federation of Small Businesses. 

    We will take forward our Plan for Barrow, a town at the heart of our nuclear security… 

    … working with my Honourable Friend the Member for Barrow and Furness…  

    … and providing £200m, supporting the creation of thousands of jobs there. 

    We will regenerate Portsmouth naval base, securing its future…   

    … as called for by my Honourable Friend the Member for Portsmouth South. 

    We will secure better homes for thousands of military families… the homes that they deserve [political content redacted]. 

    … homes for our military families in the constituencies of my Honourable Friends for Plymouth Moor View, Plymouth Sutton & Devonport, York Outer and in Aldershot.  

    That is the difference that this [political content redacted] government is making.  

    Finally, Mr Speaker, we will provide £2bn of increased capacity for UK Export Finance… 

    … to provide loans for overseas buyers of UK defence goods and services… 

    Because I want to do more with our defence budget so we can buy and make and sell things here in Britain.  

    … giving further opportunities for our world leading defence companies and those who work in them… 

    … to grow and create jobs here in Britain… 

    … as military spending rises right across Europe.  

    To oversee all of this vital work… 

    … my Right Honourable Friend the Defence Secretary and I will establish a new Defence Growth Board… 

    … to maximise the benefits from every pound of taxpayers’ money that we spend. 

    And we will put defence at the heart of our modern industrial strategy… 

    … to drive innovation that can deliver huge benefits back into the British economy. 

    Mr Speaker, that is how we make our country a defence industrial superpower… 

    … so the skills of the future… 

    … the jobs of the future… 

    … and the opportunities of the future… 

    … can be found right here in the United Kingdom.  

    Mr Speaker, [political content redacted] there are no shortcuts to economic growth. 

    It will take long-term decisions.  

    It will take hard yards. 

    It will take time for the reforms that we are introducing to be felt in the everyday economy. 

    It is right that the Office for Budget Responsibility consider the evidence… 

    … and look carefully at measures before recognising a growth impact in their forecast.  

    But, Mr Speaker, I can announce to the House…  

    … that the OBR have considered – and have scored – one of the central planks of our plan for growth.  

    In my first week as Chancellor, I announced that we were pursuing the most ambitious set of planning reforms in decades… 

    … to get Britain building again. 

    And in December – we published changes to the National Planning Policy Framework… 

    … driven forward tirelessly by my Right Honourable Friend the Deputy Prime Minister…  

    … reintroducing mandatory housing targets… 

    … and bringing “grey belt” land into scope.  

    The OBR have today concluded that these reforms will permanently increase the level of real GDP… 

    … by point 0.2% by 2029-30… 

    … an additional £6.8bn in our economy… 

    … and by point 0.4% of GDP within 10 years… 

    … an additional £15.1bn in our British economy. 

    Mr Speaker, that is the biggest positive growth impact that the OBR have ever reflected in their forecast, for a policy with no fiscal cost.  

    And taken together with our plans to increase capital spending that we set out in the Budget last year… 

    … this government’s policies will increase the level of real GDP by point 0.6% in the next ten years.  

    Mr Speaker, that is the difference that this [political content redacted] government is making. 

    Policies to grow our economy.

    [political content redacted]

    The OBR have concluded that our reforms will lead to housebuilding reaching a forty-year high… 

    …  of 305,000 a year by the end of the forecast period.  

    And changes to the National Planning Policy Framework alone… 

    … will help build over 1.3 million homes in the UK over the next five years… 

    … taking us within touching distance…  

    … of delivering our manifesto promise to build 1.5 million homes in England in this parliament. 

    [political content redacted]

    The impact on our economy goes further still.  

    [political content redacted]

    We need economic growth.  

    So I can today confirm… 

    … that the effect of our growth policies… 

    … including our planning reforms… 

    … means an additional £3.4 billion to support our public finances and our public services by 2029-30. 

    The proceeds of growth. 

    [political content redacted]

    Mr Speaker, earlier this week…  

    … we provided an additional £2bn of investment in social and affordable homes next year… 

    … delivering up to 18,000 new homes… 

    … and allowing local areas to bid for new developments across our country… 

    … including sites in Thanet, in Sunderland and in Swindon.  

    More security for families across our country. 

    [political content redacted]

    And to build these new homes… 

    … we need people with the right skills. 

    Earlier this week, my Right Honourable Friend the Education Secretary announced more than £600m… 

    … to train up 60,000 more construction workers…  

    … including with 10 new Technical Excellence colleges across every region of our country… 

    … giving working people the chance to fulfil their potential.  

    New opportunities for our young people. 

    [political content redacted]

    Mr Speaker, all this is just the start.  

    The Planning and Infrastructure Bill passed its second reading on Monday. 

    [political content redacted]

    Once this Bill completes its passage… 

    … it will help deliver the homes and infrastructure our country badly needs. 

    [political content redacted] 

    And today, I can confirm to the House… 

    … that the OBR have upgraded their growth forecast next year… 

    … and every single year thereafter…  

    … with GDP growth of 1.9% in 2026, 1.8% in 2027, 1.7% in 2028, and 1.8% in 2029.  

    Mr Speaker, 

    By the end of the forecast… 

    … our economy is larger compared to the OBR’s forecast at the time of the Budget.

    [political content redacted]

    But Mr Speaker, this isn’t just about lines on a graph. 

    It is about improving people’s lives. 

    Working people are still feeling the pinch after a cost of living crisis [political content redacted] that saw prices spiral. 

    So I am pleased that the OBR confirm today … 

    … that Real Household Disposable Income…  

    … will now grow this year at almost twice the rate expected in the autumn.  

    [political content redacted]

    … and after taking into account inflation… 

    … the OBR say today… 

    … that people will be on average over £500 a year better off under this [political content redacted] government. 

    That will mean more money in the pockets of working people. Higher living standards. 

    [political content redacted]

    Mr Speaker, the world is changing. 

    We can see that… 

    … and we can feel it. 

    A changing world demands a government that is on the side of working people. 

    Acting in their interest. 

    Acting in the national interest.  

    Not retreating from challenges.  

    Not stepping back.  

    But a government with the courage to step up…  

    … to secure Britain’s future…  

    … and to seize the opportunities that are out there before us. 

    I am impatient for change, the British people are impatient for change, [political content redacted].

    And we are beginning to see change happen.  

    Our Plan for Change is working. 

    Defence spending is rising. 

    Waiting lists are falling. 

    Wages are up.  

    Interest rates are cut. 

    [political content redacted]

    And today, Mr Speaker… 

    … the OBR confirm… 

    … that our plan to get Britain building… 

    … will drive growth in our economy… 

    … and put more money in people’s pockets. 

    There are no quick fixes. 

    But we have taken the right choices.  

    [political content redacted]

    Delivering security for our country and security for working people.  

    That is what drives this government. 

    That is what drives me as Chancellor. 

    And that is what drives the choices that I have set out today.  

    And I commend this statement to the House.

    Updates to this page

    Published 26 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Trade Crypto with 100x Leverage and No KYC – Get Double Deposit Bonus and $50 Instantly on BexBack

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, March 26, 2025 (GLOBE NEWSWIRE) — With Bitcoin’s price fluctuating below $100,000, many analysts predict a prolonged period of high volatility in the crypto market. Holding spot positions may struggle to generate short-term profits in such conditions. As a result, 100x leverage futures trading has become the preferred tool for seasoned investors looking to maximize potential gains in this volatile market. BexBack Exchange is ramping up its efforts to offer traders unmatched promotional packages. The platform now features a 100% deposit bonus, a $50 welcome bonus for new users, and 100x leverage on cryptocurrency trading, providing exceptional opportunities for investors.

    What Is 100x Leverage and How Does It Work?

    Simply put, 100x leverage allows you to open larger trading positions with less capital. For example:

    Suppose the Bitcoin price is $100,000 that day, and you open a long contract with 1 BTC. After using 100x leverage, the transaction amount is equivalent to 100 BTC.

    One day later, if the price rises to $105,000, your profit will be (105,000 – 100,000) * 100 BTC / 100,000 = 5 BTC, a yield of up to 500%.

    With BexBack’s deposit bonus

    BexBack offers a 100% deposit bonus. If the initial investment is 2 BTC, the profit will increase to 10 BTC, and the return on investment will double to 1000%.

    Note: Although leveraged trading can magnify profits, you also need to be wary of liquidation risks.

    How Does the 100% Deposit Bonus Work?
    The deposit bonus from BexBack cannot be directly withdrawn but can be used to open larger positions and increase potential profits. Additionally, during significant market fluctuations, the bonus can serve as extra margin, effectively reducing the risk of liquidation.

    About BexBack?

    BexBack is a leading cryptocurrency derivatives platform that offers 100x leverage on BTC, ETH, ADA, SOL, and XRP futures contracts. It is headquartered in Singapore with offices in Hong Kong, Japan, the United States, the United Kingdom, and Argentina. It holds a US MSB (Money Services Business) license and is trusted by more than 500,000 traders worldwide. Accepts users from the United States, Canada, and Europe. There are no deposit fees, and traders can get the most thoughtful service, including 24/7 customer support.

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

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/45cc97c2-d573-496a-92b1-aac5e7b07744

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    https://www.globenewswire.com/NewsRoom/AttachmentNg/ab93345d-af87-4ce0-924c-1cb3bea5e57d

    https://www.globenewswire.com/NewsRoom/AttachmentNg/fc50718a-0b65-416c-aec4-6ee36f220140

    The MIL Network –

  • MIL-OSI China: Eyeing free trade port milestone, China pushes toward higher-level opening up

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

    BOAO, Hainan, March 26 — As the world economy faces mounting uncertainty and rising protectionism, China is reaffirming its commitment to openness, with the Hainan Free Trade Port (FTP) emerging as an important gateway driving the country’s opening up in the new era.

    At the Boao Forum for Asia (BFA) annual conference, officials and experts underscored the significance of the Hainan FTP, as preparations accelerate for its independent customs operations, scheduled to begin by the end of 2025.

    “Following the launch of independent customs operations, the Hainan FTP is expected to further improve the free and convenient flow of trade and investment with the rest of the world, while forging even closer ties with China’s vast domestic market,” said Liu Xiaoming, governor of south China’s island province of Hainan.

    Local officials told Xinhua that preparations for the independent customs operations, a milestone in the construction of the Hainan FTP, have entered a critical sprint stage. All 31 checkpoint facility projects required for the operations have been completed, laying a solid foundation for the efficient movement of goods, people, and other key factors.

    Hainan is China’s first province to transform an entire island, spanning 34,000 square kilometers, into a free trade port that serves as a testbed for the unrestricted flow of goods, services, capital and data.

    “The mission of a free trade zone or port is to break down barriers, not to build high walls, and to create opportunities, not to monopolize the benefits,” Liu said, adding that Hainan is willing to cooperate with other global FTPs in areas such as logistics, industries and green development.

    Hainan FTP is also a frontier for the innovation of regulations and mechanisms, according to Zhou Xiaochuan, vice chairman of the BFA.

    As a key platform, the FTP can offer opportunities for countries worldwide, particularly those in Asia, to explore China’s vast market — home to over 1.4 billion people.

    “I think the FTP has great possibility to help international businesses get attracted to China and expand not only to serve China but also the rest of the world,” said Carl F. Fey, professor of strategy at BI Norwegian Business School.

    By the end of 2024, Hainan was home to 9,979 foreign-invested enterprises, 77.3 percent of which were established after June 2020, when China released its master plan for the Hainan FTP. The number of countries and regions investing in the province has grown from 43 in 2018 to 174 today.

    BFA Chairman and former UN Secretary-General Ban Ki-moon called China’s decision to build the Hainan FTP “a courageous move that takes vision and leadership.”

    Highlighting the significance of Hainan alongside other global FTPs from Dubai, Singapore and Hong Kong, Ban added that such models demonstrate what trade and openness can deliver for growth, well-being, and sustainability at a time when globalization faces headwinds.

    The Organization for Economic Cooperation and Development recently revised its global GDP forecast downward, from 3.3 percent to 3.1 percent for 2025 and 3 percent for 2026, citing higher trade barriers in several G20 economies and increased geopolitical and policy uncertainty weighing on investment and household spending.

    Participants at the forum hailed the Hainan FTP as a prime example of China’s higher-level opening up.

    Since 1978, China’s commitment to reform and opening up has transformed it from an impoverished nation into a market-oriented economic powerhouse, driving high-quality development and creating opportunities shared with the rest of the world.

    “Regardless of changes in the external environment, we should remain steadfast in our commitment to opening up,” said the Chinese government work report released early this month. “We should steadily expand institutional opening up and take the initiative to open wider and advance unilateral opening up in a well-ordered way, to promote reform and development through greater openness.”

    In late 2024, China granted zero tariff treatment to 100 percent of tax lines from all the least developed countries that have established diplomatic relations with China.

    Since last year, the country has introduced measures to expand opening up in sectors such as value-added telecommunications and healthcare, completely removed foreign investment access restrictions in manufacturing, and reduced nationwide foreign investment access restrictions from 31 to 29 items.

    “We will ensure national treatment for foreign-funded enterprises in fields such as access to production factors, license application, standards setting, and government procurement,” the government work report said.

    Thanks to these efforts, nearly 90 percent of surveyed respondents expressed that they were “very satisfied” or “relatively satisfied” with the business environment in China in 2024, an increase of 2.1 percentage points compared to 2023, according to a report released by the China Council for the Promotion of International Trade.

    China’s opening up at a high level, undoubtedly, is of great significance and will bring new opportunities for Asia and the world at large, Ban said.

    China’s GDP grew by 5 percent year on year in 2024, ranking among the world’s fastest-growing major economies and continuing to contribute about 30 percent to global economic growth.

    Looking ahead, Zhou Xiaochuan expressed confidence that as the Chinese government accelerates the rollout of core policies for the Hainan FTP, the province will play an increasingly vital role in a changing world, strengthening Asia’s ties and supporting broader global cooperation.

    MIL OSI China News –

  • MIL-OSI Banking: Gabriel Makhlouf: Opening remarks – launch of the Consumer Protection Code 

    Source: Bank for International Settlements

    Good morning everyone, 

    I would like to welcome you all to the Central Bank today.

    Welcome in particular to Robert Troy TD, Minister of State, as well as Brian McHugh, Chair of the Competition and Consumer Protection Commission (CCPC), and Liam Sloyan the Financial Services and Pensions Ombudsman (FSPO).

    We are also joined by stakeholders from across the financial system who, over the last three years, have supported and informed the development of the revised Consumer Protection Code which we are publishing today. Thank you all for coming and thank you for your commitment to dialogue and engagement to inform the new Code. You have made an important contribution to the new Code.

    Before turning to the Code itself, let me say a few words about consumer protection more generally and our approach here in the Central Bank of Ireland.

    Our mission is to serve the public interest by maintaining monetary and financial stability while ensuring that the financial system operates in the best interests of consumers and the wider economy.  We are guided by the objective set out in our founding legislation which stated that the Central Bank’s “constant and predominant aim shall be the welfare of the people as a whole”.  Everything that we do is aimed at serving the public interest and protecting consumers of financial services, whether it is through the consumer protection code, the mortgage measures, our monetary policy actions, our oversight of the payments system, or our supervision of individual firms. 

    Over the last decade, we have, along with the CCPC and FSPO in particular, played a significant role in strengthening the consumer protection framework in Ireland, to ensure that the system and protections are in line with global standards.  I was pleased with the endorsement we received from the OECD just before Christmas.  But while this strengthening of the framework has improved supports and outcomes for consumers, we also recognise the importance of ensuring that the framework – like all frameworks – continues to adapt and evolve so that it remains fit for purpose and future-ready.   

    The challenges and risks facing us are clear. The global economy is fragmenting and countries across the globe are undergoing significant economic transitions – in demography, in technology, in climate – while also experiencing a period of unprecedented innovation.  The ways in which we as consumers buy, use and engage with financial services are changing significantly.  These changes reflect new preferences, provide new opportunities and meet different needs on the part of individuals, households and businesses.  But they also create new challenges and new risks in the financial sector that we supervise and for the consumers we protect. 

    In the face of this changing ecosystem, we need to adapt, evolve and transform.  In fact all of us – firms, regulators, advocates, media – need to work together to secure customers’ interests as they seek to navigate their financial affairs and to plan for their financial futures.

    As set out in our Strategy, the Central Bank recognises that we must keep up with the changing world if we are to continue to deliver on our mandate.  As both a regulator and supervisor we are working to ensure that our frameworks are ready to respond to the changes that people are experiencing in their daily lives, and that we are connected to – and understand – the needs of the individuals, households and businesses that make up the real economy which ultimately supports the welfare of the people as a whole.  For us it means being focused on innovation, building our data capability, modernising our regulations, evolving to adopt new mandates and transforming our supervisory framework. 

    Our new supervisory approach came into effect in January this year. It remains outcomes-focused and risk-based, building on our existing principles and practices.  The changes enable a more integrated approach to the different aspects of our mandate but remain focused on achieving four safeguarding outcomes: the protection of consumer and investor interests, the integrity of the financial system, the safety and soundness of firms, and the stability of the financial system.  Importantly, our new approach places consumer protection at the heart of day-to-day supervision. It positions us better as an organisation to meet our objectives to ensure consumers of financial services are protected in a changing financial landscape. 

    Consumer Protection Code 

    Let me turn to the revised Consumer Protection Code itself.  It is built on the strong foundations of its predecessor which is the cornerstone of our – and the wider national – consumer protection framework for financial services. Throughout the course of the morning, you will hear further detail on the measures and protections that the updated Code will introduce. And you will also be able to read about them in the suite of materials that we are publishing today. 

    At its core, financial regulation is about supporting positive outcomes, protecting consumers and investors, and, ultimately, contributing to the economic well-being of the community as a whole. In reviewing the Code we have focused on modernising the regulatory framework to reflect the provision of financial services in a digital world. Consumers will benefit from a package of protections that better reflect how they are accessing financial services in the modern world.  Regulated firms will benefit from an integrated regulatory format, and a clearer articulation of their Code obligations, complementing the work they are already doing.

    One of our key objectives in revising the Code has been to put customers at the heart of the culture, strategy and business models of financial services firms. This is addressed through a new Securing Customers’ Interests Standard, supported by detailed guidance which describes what firms need to consider, the actions they need to take, and the mind-set they should have towards their customers.  We want to see a maturing of firms’ understanding and engagement with their consumer protection obligations where they take ownership for meeting these obligations, deliver positive outcomes and are proactive in addressing any issues that arise.

    Another important aspect of our review has been on protecting consumers in vulnerable circumstances, as they are more likely to suffer detriment or harm.  The new Code sets out an updated definition of vulnerability along with enhanced requirements which reflect an improved understanding of its dynamic nature, recognising that people can move in and out of circumstances that make them vulnerable.  We want firms need to understand the broad nature of vulnerability, and ensure that their culture, policies and processes take account of the needs of consumers in vulnerable circumstances. 

    The revised Consumer Protection Code comes into effect 12 months from today.  We will continue to engage with industry and consumer representatives in relation to its implementation over the next year.  We want to see the new Code contributing to building trust in the financial system and for consumers to have the confidence that it will work to deliver positive outcomes for them.

    In my view implementing the revised Code successfully will be more likely if it is seen as a collective effort on the part of all participants in the financial system:

    • firms must continue to put the customer at the heart of their culture, strategy, business model and decision-making.  Customer interests should not be the afterthought to finalising a strategy. Consideration of the impacts on customers and customer outcomes needs to be a key aspect of the strategy development and decision-making process itself;
    • consumer representative organisations play an important role in supporting and advising consumers in their interactions with financial services and I’m sure they will continue to do this as we work through implementation of the revised Code;
    • media organisations of course play an important role in informing all the participants in the system;
    • agencies such as the CCPC, FSPO and others will continue to play their important roles as key players in the national consumer protection framework; and
    • the Central Bank we will remain focused on ensuring that the financial system operates in the best interests of consumers and the wider economy, as well as playing our part in communicating with consumers to raise their awareness of the revised Code. 

    Adopting a whole-of-system approach will support effective implementation of the revised Code and ensure the protection of consumer and investor interests in their interactions with a rapidly-changing financial system.

    Thank you once again for joining us today. 

    MIL OSI Global Banks –

  • MIL-OSI Economics: pellertrading.online: BaFin warns of website and points to suspected identity fraud

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The operator of the website appears only under the name PellerTrading, without mentioning a legal form. He claims to be based in Zurich, Switzerland, at LLB Swiss Investments AG and in London, United Kingdom.

    BaFin has no information indicating that LLB Swiss Investments AG, a company registered in the Swiss commercial register and with the Swiss Financial Market Supervisory Authority (FINMA), has any connection to the offers on the pellertrading.online website or to the operator of the website. It is assumed that this is an identity fraud at the expense of LLB Swiss Investments AG.

    Recently, BaFin has become aware of other websites with almost identical content, which BaFin has also warned against. In all cases, the presentation on the websites begins with the following sentence: “Step up your trading with [name of operator]”.

    Anyone offering financial or investment services or crypto-securities services in Germany requires the permission of BaFin. However, some companies offer such services without the necessary permission. You can find information on whether a particular company is authorized by BaFin in the database of companies.

    BaFin’s information is based on Section 37 (4) of the German Banking Act (KWG) and Section 10 (7) of the German Crypto Markets Supervision Act (KMAG).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Economics –

  • MIL-OSI Global: Trump’s tariffs on Canada and Mexico could spell trouble for distilled spirits

    Source: The Conversation – USA – By Andrew Muhammad, Professor of Agriculture and Resource Economics, University of Tennessee

    If all the tariff drama in the news lately has you reaching for a stiff drink, you’re not alone. Unfortunately, those same tariffs might make it harder to get your hands on your favorite brand of tequila.

    In early March 2025, U.S. President Donald Trump levied import tariffs of 25% on goods from Canada and Mexico, following through on a promise he made back in November 2024. While he later partially reversed course, suspending tariffs on some goods, tensions remain high. Mexico is largely holding off on retaliation, but Canada quickly fired back with counter-tariffs on billions of dollars’ worth of U.S. products.

    These trade tensions spell trouble for numerous industries, including the booming spirits market. Canada and Mexico – two of the top U.S. trading partners – accounted for nearly half of the US$12 billion in distilled spirits the U.S. imported in 2024.

    As an agricultural economist, I’ve analyzed how a 25% tariff could affect tequila, whiskey and other distilled spirits – and the results weren’t pretty. I found that these tariffs would cost distilled spirit importers over $1 billion in lost trade, with tequila alone taking a more than $800 million hit.

    Americans’ thirst for imported liquor

    The U.S. imports far more distilled spirits than it exports – five times as much by value, as of 2024.

    Since 2000, U.S. imports of distilled spirits have surged by more than 300%, driven largely by the explosive rise in tequila consumption. Between 2000 and 2024, tequila imports rose by 1,400%, skyrocketing from $350 million to $5.4 billion.

    While imports of whiskey, liqueurs, vodka and brandy also grew, none matched tequila’s explosive rise. Tequila now represents 45% of all spirits imported into the U.S., up from 12% in 2000.

    Not surprisingly, 99% of tequila and mezcal is imported from Mexico, making it the leading foreign supplier of distilled spirits to the United States. Meanwhile, Canada has supplied between 4% and 6% of U.S. spirits imports over the past two decades, primarily whiskey and liqueurs.

    Since distilled spirits are classified as agricultural products, their rising imports have significantly contributed to the U.S. agricultural trade deficit. However, this isn’t necessarily a problem. Imports help meet demand from U.S. consumers, generate value-added opportunities for U.S. companies, and support economic activity in bars, liquor stores, restaurants and beyond.

    A 25% tariff on Mexican goods is a 25% tax on tequila

    In my study, published in February in the peer-reviewed journal Agribusiness and in a follow-up policy brief, I found that 25% tariffs on Mexico and Canada could reduce imports of distilled spirits by $1.2 billion. This loss exceeds the total amount of tax revenue those tariffs can expected to bring in.

    Unsurprisingly, tequila imports would be the hardest hit, falling by $810 million. I found that the tariff revenue from tequila – $910 million – could actually exceed the corresponding fall in imports. That’s because demand for tequila, like most alcoholic beverages, is what economists call “inelastic,” meaning that when prices rise, consumers are unlikely to change their purchasing decisions by very much.

    However, it would be a mistake to consider tequila in isolation. When I factored in other notable decreases, such as a $100 million drop in whiskey imports, I found that the value of total trade losses, in the form of decreased imports, would outweigh the total tariff revenue. I also found that no product category would come out ahead.

    In fact, even products like vodka, which are mostly exempt from these tariffs, would be indirectly affected. This is because tariffs can increase the overall cost of importing, leading businesses to reduce all imports, tariffed or otherwise. My research suggests that this “trade destruction” effect, to use an economics term, will be quite significant.

    A new era of tariffs

    The Trump administration has argued that tariffs will generate a lot of money for the federal government. But my research suggests those gains may not outweigh the economic costs to businesses and consumers.

    Contrary to common belief, trade losses don’t just affect exporting countries. Domestic consumers also face higher prices and fewer choices – hurting their overall economic welfare. Reducing imports also affects U.S. businesses involved in marketing, distribution and sales.

    Trade is more complex than a simple formula of “exports good, imports bad.” Research makes it clear that tariffs have negative consequences, including higher consumer prices, reduced product availability and downstream economic disruption. Policymakers would be wise to take those effects seriously. Otherwise, they might find themselves with a serious economic hangover.

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

    – ref. Trump’s tariffs on Canada and Mexico could spell trouble for distilled spirits – https://theconversation.com/trumps-tariffs-on-canada-and-mexico-could-spell-trouble-for-distilled-spirits-251583

    MIL OSI – Global Reports –

  • MIL-OSI: SPS Commerce Releases 2024 ESG Report, Reinforcing Commitment to Sustainable and Responsible Growth

    Source: GlobeNewswire (MIL-OSI)

    MINNEAPOLIS, March 26, 2025 (GLOBE NEWSWIRE) — SPS Commerce, Inc. (NASDAQ: SPSC), a leader in retail supply chain cloud services, today announced the release of its 2024 Environmental, Social, and Governance (ESG) Report, outlining the company’s ongoing commitment to sustainability, ethical business practices, and social responsibility. This inaugural report highlights the company’s key advancements in governance, employee experience, community engagement, and environmental stewardship.

    “At SPS Commerce, connectedness is at the core of everything we do, from enabling seamless supply chain collaboration to fostering an inclusive workplace and investing in the communities we serve,” said Chad Collins, CEO of SPS Commerce. “Our 2024 ESG Report reflects the meaningful progress we’ve made toward building a more sustainable and responsible future, while also underscoring our continued focus on the connections that link our environmental, social and governance principles to every facet of our business.”

    Key highlights from the 2024 ESG Report:

    • Governance & Ethics: Strengthened corporate policies to enhance ESG oversight and cybersecurity safeguards.
    • Employee Experience: Expanded Belonging@SPS, a global initiative focused on fostering connection and community across teams, alongside enhanced leadership development programs.
    • Community Impact: The SPS Foundation continued to drive social impact with a special focus on investing in education and workforce development, with over $2.5 million in donations.
    • Environmental Responsibility: Completed greenhouse gas (GHG) inventories to better understand SPS Commerce’s carbon footprint.
    • Sustainable Operations: Continued prioritization of cloud-based infrastructure with 95% of SPS’s IT operations now in energy-efficient data centers powered by renewable energy.

    SPS Commerce remains committed to transparency and continuous improvement in its ESG efforts. The full 2024 ESG Report is available at https://www.spscommerce.com/corporate-responsibility/.

    About SPS Commerce

    SPS Commerce is the world’s leading retail network, connecting trading partners around the globe to optimize supply chain operations for all retail partners. We support data-driven partnerships with innovative cloud technology, customer-obsessed service, and accessible experts so our customers can focus on what they do best. Over 45,000 recurring revenue customers in retail, grocery, distribution, supply, manufacturing, and logistics are using SPS as their retail network. SPS has achieved 96 consecutive quarters of revenue growth and is headquartered in Minneapolis. For additional information, contact SPS at 866-245-8100 or visit www.spscommerce.com.

    SPS COMMERCE, SPS, SPS logo and INFINITE RETAIL POWER are marks of SPS Commerce, Inc. and registered in the U.S. Patent and Trademark Office, along with other SPS marks. Such marks may also be registered or otherwise protected in other countries.

    SPS-F

    Forward-Looking Statements
    This press release may contain forward-looking statements, including information about management’s view of SPS Commerce’s future expectations, plans and prospects, including our views regarding future execution within our business, the opportunity we see in the retail supply chain world and our performance for the first quarter and full year of 2025, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of SPS Commerce to be materially different than those expressed or implied in such statements. Certain of these risk factors and others are included in documents SPS Commerce files with the Securities and Exchange Commission, including but not limited to, SPS Commerce’s Annual Report on Form 10-K for the year ended December 31, 2023, as well as subsequent reports filed with the Securities and Exchange Commission. Other unknown or unpredictable factors also could have material adverse effects on SPS Commerce’s future results. The forward-looking statements included in this press release are made only as of the date hereof. SPS Commerce cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, SPS Commerce expressly disclaims any intent or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

    Contact:
    Investor Relations
    The Blueshirt Group
    Irmina Blaszczyk & Lisa Laukkanen
    SPSC@blueshirtgroup.com

    The MIL Network –

  • MIL-OSI: First American Bank Celebrates American Exchanger Services’ SBA Wisconsin 2025 Small Business Exporter of the Year Award

    Source: GlobeNewswire (MIL-OSI)

    MILWAUKEE, March 26, 2025 (GLOBE NEWSWIRE) — First American Bank proudly congratulates American Exchanger Services for being named the Small Business Administration (SBA) Wisconsin 2025 Small Business Exporter of the Year. This prestigious award recognizes the company’s impressive international growth and resilience in overcoming global challenges, proving that strategic financial support can lead to extraordinary success.

    The journey of American Exchanger Services is a remarkable tale of recovery. In the wake of the COVID-19 pandemic, the company faced severe disruptions to their contracts and struggled with strained finances and mounting debt. Rather than surrender, they reached out to First American Bank in 2023, seeking the support needed to turn things around.

    In response, First American Bank provided a tailored financial solution. Recognizing the potential for recovery through their returning foreign contracts, the bank offered an SBA Export Express Line of Credit to address immediate working capital needs. Additionally, First American Bank consolidated the company’s debt and refinanced real estate through the SBA International Trade Loan (ITL), stabilizing cash flow and setting the stage for profitability.

    “The strength of any business lies not just in its ability to survive, but in its ability to rebound, adapt, and grow in the face of adversity,” said Randy Sherwood, First Vice President, Commercial Banking at First American Bank. “American Exchanger Services’ recovery is a testament to their tenacity and the power of having the right financial partner at the right moment. We’re proud to have played a pivotal role in their journey and look forward to their continued success as they expand globally.”

    Today, American Exchanger Services has not only recovered but is thriving. The company’s operations have expanded, their footprint in international markets has grown, and their ability to meet customer demand has soared. Their success story underscores the importance of strategic financial solutions, especially for businesses navigating the complexities of global trade.

    “At First American Bank, we view our role as not just a lender, but a partner in our clients’ success stories,” said James Matteson, First Vice President, SBA Program Manager at First American Bank. “American Exchanger Services’ achievement highlights the critical role of tailored financial solutions and the resilience of businesses that innovate in challenging times. We’re excited for what the future holds as they continue to break barriers in international trade.”

    First American Bank is honored to have played a key role in helping American Exchanger Services recover, rebuild, and thrive. This SBA recognition is a powerful reminder of how strategic financing can transform challenges into growth opportunities, fueling continued success in even the most difficult times.

    Additionally, First American Bank is proud to have been recognized as the SBA Export Lender of the Year for Wisconsin, further affirming the bank’s commitment to supporting local businesses in their global expansion efforts.

    At First American Bank, we are dedicated to helping small businesses grow both locally and internationally. American Exchanger Services is just one example of the immense potential small businesses have when given the right tools, resources, and support. We look forward to their continued expansion and are excited to continue partnering with them as they reach new heights.

    Here’s to American Exchanger Services’ ongoing success and growth in the global marketplace.

    For more information about First American Bank and how we help businesses unlock their potential, visit www.firstambank.com.

    First American Bank is a Member FDIC.

    Contact:
    Teresa Lee
    305-631-6400

    The MIL Network –

  • MIL-OSI: XRP Whales Are Betting Big on $XPL – Is XploraDEX XRP’s 100x AI Breakout? Join $XPL PreSale

    Source: GlobeNewswire (MIL-OSI)

    ZURICH, March 26, 2025 (GLOBE NEWSWIRE) — As the first AI-powered decentralized exchange built natively on the XRP Ledger, XploraDEX isn’t just another DeFi protocol—it’s a full-blown trading revolution. Designed to bring institutional-grade automation and smart liquidity to the XRPL ecosystem, it’s now attracting the sharpest capital in the game.

    With the $XPL Presale currently live, investors are rushing in before the next major wave of interest hits. Could this be XRP’s first 100x breakout backed by real technology? If the whale wallets are right, the answer is yes.

    Buy $XPL Token

    Why XRP Whales Are Going All In on XploraDEX

    Whale activity is often the earliest sign of something big. These deep-pocketed investors don’t just chase hype, they move based on deep market insight. Here’s why they’re betting big on $XPL:

    First-Mover Advantage on XRPL: XploraDEX is the only AI-integrated DEX built specifically for the XRP Ledger, leveraging XRPL’s high-speed, low-fee structure to support cutting-edge trading execution.

    AI-Powered Trade Intelligence: From predictive analytics to automated order execution, XploraDEX gives traders tools typically reserved for hedge funds.

    Deep Liquidity Optimization: AI manages liquidity routing in real time—maximizing capital efficiency and reducing slippage, a key benefit for large-volume players.

    $XPL Token Utility

    Whales are accumulating $XPL not just for price action, but for access to AI tools, staking rewards, governance control, and trading fee reductions.

    What Is the $XPL Token? Why Does It Matter?

    The $XPL token isn’t just a placeholder, it’s a utility-rich, governance-enabled asset at the center of the XploraDEX ecosystem.

    $XPL Token Presale Details – Act Fast Before It’s Gone!

    The $XPL Token Presale is officially live! Don’t miss your chance to grab tokens before they hit major DEX listings.

    $XPL PreSale Information

    Token Name: XploraDEX

    Total Supply: 500,000,000

    Presale Allocation: First Come, First Serve!

    DEX Listing: 25% Higher

    Liquidity Pools: Launching immediately after TGE!

    The XPL Token Presale is already attracting major interest, early investors will gain first-mover advantages!

    Buy $XPL Tokens Now: https://sale.xploradex.io

    With whale participation already underway, $XPL’s demand is growing fast and supply is limited.

    The $XPL Presale – Your Early Access to the Future of DeFi on XRPL

    XploraDEX’s presale offers early entry at the lowest token price before listings and staking programs go live. This is the phase where 100x potential begins just as it did for early adopters of major tokens in 2017 and 2020.

    GET XPL TOKEN NOW

    The opportunity to buy $XPL now is like stepping into a new era of DeFi before it goes mainstream.

    Final Word: Follow the Smartest Money in XRP

    When XRP whales accumulate quietly, it’s never by accident. The sharpest investors have done the math: AI + DeFi + XRPL = explosive upside.

    XploraDEX isn’t just a new DEX—it’s the beginning of AI-enhanced, intelligent trading on XRP. And $XPL is the key to it all.

    Join the $XPL Presale Today: https://sale.xploradex.io

    Stay connected and Join the XploraDEX AI Revolution

    Website | $XPL Token Presale | X | Telegram

    Contact:
    Oliver Muller
    oliver@xploradex.io
    contact@xploradex.io

    Disclaimer: This press release is provided by the XploraDEX. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.

    Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.

    Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fcd2f143-416f-489e-bd65-1c96ccf3364f

    The MIL Network –

  • MIL-OSI Russia: Development of education and mentoring discussed at Polytechnic

    Translartion. Region: Russians Fedetion –

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    One of the discussion platforms of the international conference on the development of modern education was organized at the Polytechnic University.

    The conference “Education of the Future and the Future of Education” is currently taking place in different cities across the country, where important issues of Russian education development are being discussed at several discussion platforms. The meeting of the Polytechnic student body with vice-rectors Lyudmila Pankova and Maxim Pasholikov was devoted to the topic “A New Era of Higher Education: Towards Technological Leadership”.

    The meeting participants discussed whether engineering education will be transformed into an innovative one through mass participation of students in research and engineering work; how the engineering education system will be integrated into science and production; touched upon the topic of developing mentoring in higher education; the use of tools for assessing and preparing graduates in accordance with the personnel requirements of the university’s partners, and much more.

    Vice-Rector for Educational Activities of the University Lyudmila Pankova made a presentation on the topic of “Strategic Educational Initiatives in the SPbPU Development Program for 2025/2036.” Lyudmila Vladimirovna recalled that last week the Polytechnic University successfully defended its comprehensive development program andentered the first group of universities to receive grants from the Priority 2030 program, which is now focused on technological leadership. The Vice-Rector explained what strategic goals the university sets for itself, what strategic initiatives it proposes to achieve them, including in the field of education. For example, this is the construction of a flexible system for assessing educational results based on the individual achievements of students or students receiving several qualifications during their studies.

    “The big advantage of the Polytechnic is its interdisciplinary nature,” noted Lyudmila Pankova. “When a university has many different competencies, they are well combined and a synergistic effect occurs.”

    Vice-Rector for Youth Policy and Communication Technologies Maxim Pasholikov spoke about a multi-level mentoring system as a tool for working with young people, focusing on a new idea related to the development of mentoring. In the year of the 60th anniversary of the Trade Union of University Students and the 10th anniversary of the creation of the Public Institute “Adapters”, Maxim Aleksandrovich proposed to restart the Association of Polytechnic Graduates, created back in 2012, to unite on its basis adapters who graduated from the university, trade union activists and student brigade fighters.

    “This will be a new stage in the development of youth policy at the university,” the vice-rector believes. “While we are studying, we are constantly immersed in this environment, but after graduation, connections are lost. And we, graduates, who were on the same wavelength during our years of study, need such social communication. This could be a permanent club in which horizontal connections would develop, and people would receive new opportunities for self-realization, including employment.”

    After the presentations, the participants in the discussion were able to speak out on the proposed topics and receive answers to their questions.

    Photo archive

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI: YieldMax™ ETFs Announces Distributions on PLTY (100.21%), MARO (75.43%), ULTY (75.27%), MRNY (69.46%), LFGY (61.87%), and Others

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO and MILWAUKEE and NEW YORK, March 26, 2025 (GLOBE NEWSWIRE) — YieldMax™ today announced distributions for the YieldMax™ Weekly Payers and Group B ETFs listed in the table below.

    ETF Ticker1 ETF Name Distribution Frequency Distribution per Share Distribution Rate2,4 30-Day
    SEC Yield3    		 ROC5 Ex-Date & Record Date Payment Date
    GPTY YieldMax™ AI & Tech Portfolio Option Income ETF Weekly $0.2787 34.11% 0.00% 98.94% 3/27/25 3/28/25
    LFGY YieldMax™ Crypto Industry & Tech Portfolio Option Income ETF Weekly $0.4749 61.87% 0.00% 0.00% 3/27/25 3/28/25
    QDTY YieldMax™ Nasdaq 100 0DTE Covered Call ETF Weekly $0.2711 – – 55.02% 3/27/25 3/28/25
    RDTY YieldMax™ R2000 0DTE Covered
    Call ETF    		 Weekly $0.3037 – – 100.00% 3/27/25 3/28/25
    SDTY YieldMax™ S&P 500 0DTE Covered Call ETF Weekly $0.2133 – – 0.00% 3/27/25 3/28/25
    ULTY YieldMax™ Ultra Option Income Strategy ETF Weekly $0.0986 75.27% 0.00% 100.00% 3/27/25 3/28/25
    YMAG YieldMax™ Magnificent 7 Fund of Option Income ETFs Weekly $0.0837 27.36% 61.87% 21.53% 3/27/25 3/28/25
    YMAX YieldMax™ Universe Fund of Option Income ETFs Weekly $0.1315 47.15% 85.03% 61.95% 3/27/25 3/28/25
    BABO YieldMax™ BABA Option Income Strategy ETF Every 4 Weeks $0.7578 47.80% 2.36% 0.00% 3/27/25 3/28/25
    DIPS YieldMax™ Short NVDA Option Income Strategy ETF Every 4 Weeks $0.5851 61.41% 2.90% 96.87% 3/27/25 3/28/25
    FBY YieldMax™ META Option Income Strategy ETF Every 4 Weeks $0.5506 39.97% 3.47% 0.00% 3/27/25 3/28/25
    GDXY YieldMax™ Gold Miners Option Income Strategy ETF Every 4 Weeks $0.6394 50.38% 3.08% 0.00% 3/27/25 3/28/25
    JPMO YieldMax™ JPM Option Income Strategy ETF Every 4 Weeks $0.3717 28.32% 3.40% 42.17% 3/27/25 3/28/25
    MARO YieldMax™ MARA Option Income Strategy ETF Every 4 Weeks $1.4783 75.43% 4.21% 95.22% 3/27/25 3/28/25
    MRNY YieldMax™ MRNA Option Income Strategy ETF Every 4 Weeks $0.1827 69.46% 5.01% 94.71% 3/27/25 3/28/25
    NVDY YieldMax™ NVDA Option Income Strategy ETF Every 4 Weeks $0.7874 57.94% 4.02% 100.00% 3/27/25 3/28/25
    PLTY YieldMax™ PLTR Option Income Strategy ETF Every 4 Weeks $5.3257 100.21% 2.63% 97.91% 3/27/25 3/28/25
    Weekly Payers & Group C ETFs scheduled for next week: GPTY LFGY QDTY RDTY SDTY ULTY YMAG YMAX ABNY AMDY CONY CVNY FIAT MSFO NFLY PYPY


    Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling     (833) 378-0717.

    Note: DIPS, FIAT, CRSH and YQQQ are hereinafter referred to as the “Short ETFs”.

    Distributions are not guaranteed. The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from period to period and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.

    Investors in the Funds will not have rights to receive dividends or other distributions with respect to the underlying reference asset(s).

       
    1 All YieldMax™ ETFs shown in the table above (except YMAX, YMAG, FEAT, FIVY and ULTY) have a gross expense ratio of 0.99%. YMAX, YMAG and FEAT have a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.99% for a gross expense ratio of 1.28%. FIVY has a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.59% for a gross expense ratio of 0.88%. “Acquired Fund Fees and Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, namely other YieldMax™ ETFs. ULTY has a gross expense ratio after the fee waiver of 1.30%. The Advisor has agreed to a fee waiver of 0.10% through at least February 28, 2026.
    2 The Distribution Rate shown is as of close on March 25, 2025. The Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.
    3 The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended February 28, 2025, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period.
    4 Each ETF’s strategy (except those of the Short ETFs) will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF. Each Short ETF’s strategy will cap potential gains if its reference asset decreases in value, yet subjects an investor to all potential losses if the reference asset increases in value. Such potential losses may not be offset by income received by the ETF.
    5 ROC refers to Return of Capital. The ROC percentage is the portion of the distribution that represents an investor’s original investment.
       

    Each Fund has a limited operating history and while each Fund’s objective is to provide current income, there is no guarantee the Fund will make a distribution. Distributions are likely to vary greatly in amount.

    Standardized Performance

    For YMAX, click here. For YMAG, click here. For TSLY, click here. For OARK, click here. For APLY, click here. For NVDY, click here. For AMZY, click here. For FBY, click here. For GOOY, click here. For NFLY, click here. For CONY, click here. For MSFO, click here. For DISO, click here. For XOMO, click here. For JPMO, click here. For AMDY, click here. For PYPY, click here. For SQY, click here. For MRNY, click here. For AIYY, click here. For MSTY, click here. For ULTY, click here. For YBIT, click here. For CRSH, click here. For GDXY, click here. For SNOY, click here. For ABNY, click here. For FIAT, click here. For DIPS, click here. For BABO, click here. For YQQQ, click here. For TSMY, click here. For SMCY, click here. For PLTY, click here. For BIGY, click here. For SOXY, click here. For MARO, click here. For FEAT, click here. For FIVY, click here. For LFGY, click here. For GPTY, click here. For CVNY, click here. For SDTY, click here. For QDTY, click here. For RDTY, click here.

    Important Information

    This material must be preceded or accompanied by the prospectus. For all prospectuses, click here.

    Tidal Financial Group is the adviser for all YieldMax™ ETFs.

    THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.

    Risk Disclosures (applicable to all YieldMax ETFs referenced above, except the Short ETFs)

    YMAX, YMAG, FEAT and FIVY generally invest in other YieldMax™ ETFs. As such, these two Funds are subject to the risks listed in this section, which apply to all the YieldMax™ ETFs they may hold from time to time.

    Investing involves risk. Principal loss is possible.

    Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer periods.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security (ARKK, TSLA, AAPL, NVDA, AMZN, META, GOOGL, NFLX, COIN, MSFT, DIS, XOM, JPM, AMD, PYPL, SQ, MRNA, AI, MSTR, Bitcoin ETP, GDX®, SNOW, ABNB, BABA, TSM, SMCI, PLTR, MARA, CVNA), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way.

    Risk Disclosures (applicable only to GPTY)

    Artificial Intelligence Risk. Issuers engaged in artificial intelligence typically have high research and capital expenditures and, as a result, their profitability can vary widely, if they are profitable at all. The space in which they are engaged is highly competitive and issuers’ products and services may become obsolete very quickly. These companies are heavily dependent on intellectual property rights and may be adversely affected by loss or impairment of those rights. The issuers are also subject to legal, regulatory and political changes that may have a large impact on their profitability. A failure in an issuer’s product or even questions about the safety of the product could be devastating to the issuer, especially if it is the marquee product of the issuer. It can be difficult to accurately capture what qualifies as an artificial intelligence company.

    Technology Sector Risk. The Fund will invest substantially in companies in the information technology sector, and therefore the performance of the Fund could be negatively impacted by events affecting this sector. Market or economic factors impacting technology companies and companies that rely heavily on technological advances could have a significant effect on the value of the Fund’s investments. The value of stocks of information technology companies and companies that rely heavily on technology is particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation and competition, both domestically and internationally, including competition from foreign competitors with lower production costs. Stocks of information technology companies and companies that rely heavily on technology, especially those of smaller, less-seasoned companies, tend to be more volatile than the overall market. Information technology companies are heavily dependent on patent and intellectual property rights, the loss or impairment of which may adversely affect profitability.

    Risk Disclosure (applicable only to MARO)

    Digital Assets Risk: The Fund does not invest directly in Bitcoin or any other digital assets. The Fund does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. The Fund does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than the Fund. Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility.

    Risk Disclosures (applicable only to BABO and TSMY)

    Currency Risk: Indirect exposure to foreign currencies subjects the Fund to the risk that currencies will decline in value relative to the U.S. dollar. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.

    Depositary Receipts Risk: The securities underlying BABO and TSMY are American Depositary Receipts (“ADRs”). Investment in ADRs may be less liquid than the underlying shares in their primary trading market.

    Foreign Market and Trading Risk: The trading markets for many foreign securities are not as active as U.S. markets and may have less governmental regulation and oversight.

    Foreign Securities Risk: Investments in securities of non-U.S. issuers involve certain risks that may not be present with investments in securities of U.S. issuers, such as risk of loss due to foreign currency fluctuations or to political or economic instability, as well as varying regulatory requirements applicable to investments in non-U.S. issuers. There may be less information publicly available about a non-U.S. issuer than a U.S. issuer. Non-U.S. issuers may also be subject to different regulatory, accounting, auditing, financial reporting and investor protection standards than U.S. issuers.

    Risk Disclosures (applicable only to GDXY)

    Risk of Investing in Foreign Securities. The Fund is exposed indirectly to the securities of foreign issuers selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies. Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. securities.

    Risk of Investing in Gold and Silver Mining Companies. The Fund is exposed indirectly to gold and silver mining companies selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies.

    The Fund invests in options contracts based on the value of the VanEck Gold Miners ETF (GDX®), which subjects the Fund to some of the same risks as if it owned GDX®, as well as the risks associated with Canadian, Australian and Emerging Market Issuers, and Small-and Medium-Capitalization companies.

    Risk Disclosures (applicable only to YBIT)

    YBIT does not invest directly in Bitcoin or any other digital assets. YBIT does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. YBIT does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than YBIT.

    Bitcoin Investment Risk: The Fund’s indirect investment in Bitcoin, through holdings in one or more Underlying ETPs, exposes it to the unique risks of this emerging innovation. Bitcoin’s price is highly volatile, and its market is influenced by the changing Bitcoin network, fluctuating acceptance levels, and unpredictable usage trends.

    Digital Assets Risk: Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility. Potentially No 1940 Act Protections. As of the date of this Prospectus, there is only a single eligible Underlying ETP, and it is an investment company subject to the 1940 Act.

    Bitcoin ETP Risk: The Fund invests in options contracts that are based on the value of the Bitcoin ETP. This subjects the Fund to certain of the same risks as if it owned shares of the Bitcoin ETP, even though it does not. Bitcoin ETPs are subject, but not limited, to significant risk and heightened volatility. An investor in a Bitcoin ETP may lose their entire investment. Bitcoin ETPs are not suitable for all investors. In addition, not all Bitcoin ETPs are registered under the Investment Company Act of 1940. Those Bitcoin ETPs that are not registered under such statute are therefore not subject to the same regulations as exchange traded products that are so registered.

    Risk Disclosures (applicable only to the Short ETFs)

    Investing involves risk. Principal loss is possible.

    Price Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the value of the underlying reference asset. This strategy subjects the Fund to certain of the same risks as if it shorted the underlying reference asset, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the value of the underlying reference asset, the Fund is subject to the risk that the value of the underlying reference asset increases. If the value of the underlying reference asset increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses.

    Put Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s put writing (selling) strategy will impact the extent that the Fund participates in decreases in the value of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold put options and over longer periods.

    Purchased OTM Call Options Risk. The Fund’s strategy is subject to potential losses if the underlying reference asset increases in value, which may not be offset by the purchase of out-of-the-money (OTM) call options. The Fund purchases OTM calls to seek to manage (cap) the Fund’s potential losses from the Fund’s short exposure to the underlying reference asset if it appreciates significantly in value. However, the OTM call options will cap the Fund’s losses only to the extent that the value of the underlying reference asset increases to a level that is at or above the strike level of the purchased OTM call options. Any increase in the value of the underlying reference asset to a level that is below the strike level of the purchased OTM call options will result in a corresponding loss for the Fund. For example, if the OTM call options have a strike level that is approximately 100% above the then-current value of the underlying reference asset at the time of the call option purchase, and the value of the underlying reference asset increases by at least 100% during the term of the purchased OTM call options, the Fund will lose all its value. Since the Fund bears the costs of purchasing the OTM calls, such costs will decrease the Fund’s value and/or any income otherwise generated by the Fund’s investment strategy.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying reference asset, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will participate in decreases in value experienced by the underlying reference asset over the Put Period.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, for any Fund that focuses on an individual security (e.g., TSLA, COIN, NVDA), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Risk Disclosures (applicable only to YQQQ)

    Index Overview. The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization.

    Index Level Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the Index level. This strategy subjects the Fund to certain of the same risks as if it shorted the Index, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the Index level, the Fund is subject to the risk that the Index level increases. If the Index level increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: innovation and technological advancement; strong market presence of Index constituent companies; adaptability to global market trends; and resilience and recovery potential.

    Index Level Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will benefit from decreases in the Index level experienced over the Put Period. This means that if the Index level experiences a decrease in value below the strike level of the sold put options during a Put Period, the Fund will likely not experience that increase to the same extent and any Fund gains may significantly differ from the level of the Index losses over the Put Period. Additionally, because the Fund is limited in the degree to which it will participate in decreases in value experienced by the Index level over each Put Period, but has significant negative exposure to any increases in value experienced by the Index level over the Put Period, the NAV of the Fund may decrease over any given period. The Fund’s NAV is dependent on the value of each options portfolio, which is based principally upon the inverse of the performance of the Index level. The Fund’s ability to benefit from the Index level decreases will depend on prevailing market conditions, especially market volatility, at the time the Fund enters into the sold put option contracts and will vary from Put Period to Put Period. The value of the options contracts is affected by changes in the value and dividend rates of component companies that comprise the Index, changes in interest rates, changes in the actual or perceived volatility of the Index and the remaining time to the options’ expiration, as well as trading conditions in the options market. As the Index level changes and time moves towards the expiration of each Put Period, the value of the options contracts, and therefore the Fund’s NAV, will change. However, it is not expected for the Fund’s NAV to directly inversely correlate on a day-to-day basis with the returns of the Index level. The amount of time remaining until the options contract’s expiration date affects the impact that the value of the options contracts has on the Fund’s NAV, which may not be in full effect until the expiration date of the Fund’s options contracts. Therefore, while changes in the Index level will result in changes to the Fund’s NAV, the Fund generally anticipates that the rate of change in the Fund’s NAV will be different than the inverse of the changes experienced by the Index level.

    YieldMax™ ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group, or YieldMax™ ETFs.

    © 2025 YieldMax™ ETFs

    The MIL Network –

  • MIL-OSI: SailPoint Announces Strong Fiscal Fourth Quarter and Full Year 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    • Grew ARR 29% year-over-year to $877 million
    • Expanded SaaS ARR 39% year-over-year to $540 million
    • Finished the year with an ~80% year-over-year increase in the number of customers with more than $1 million of ARR

    AUSTIN, Texas, March 26, 2025 (GLOBE NEWSWIRE) — SailPoint, Inc. (Nasdaq: SAIL), a leader in enterprise identity security, today announced financial results for its fiscal fourth quarter and full year, ended January 31, 2025.

    “We are very pleased to report our strong fourth quarter and full year 2025 results where our continued pursuit of efficient growth at scale drove a year of greater than ‘rule of 40’ performance. Our relentless focus on innovation and execution enables us to capitalize on the growing market opportunity to help enterprises as they struggle to manage, govern and secure their vast identity landscape,” said Mark McClain, SailPoint Founder and CEO.

    “Identity security is increasingly recognized as a strategic enterprise security imperative today. CIOs and CISOs now realize the criticality of a unified, intelligent, and powerful identity security platform that is designed to handle enterprise-class scale, complexity, and velocity of change in fine-grained access needs. This becomes even more important with the rise of AI agents,” McClain continued. “We believe SailPoint’s ability to serve as a central control plane for securing all enterprise identities makes us the ideal partner to solve these critical business challenges for enterprises worldwide.”

    Fiscal 2025 Fourth Quarter Financial Highlights

    • Annual Recurring Revenue (ARR): Total ARR was $877 million, an increase of 29% year-over-year. SaaS ARR was $540 million, an increase of 39% year-over-year.
    • Revenue: Total revenue was $240 million, an increase of 18% year-over-year. Subscription revenue was $224 million, an increase of 22% year-over-year.
    • Operating Income (Loss):   GAAP operating loss was $30 million, or (12.6)% of revenue, compared to $65 million, or (32.2)% of revenue in fiscal Q4 2024. Adjusted income from operations was $46 million, or 19.0% of revenue, compared to $28 million, or 13.7% of revenue in fiscal Q4 2024.

    Fiscal Full Year 2025 Financial Highlights

    • Annual Recurring Revenue: Total ARR was $877 million, an increase of 29% year-over-year. SaaS ARR was $540 million, an increase of 39% year-over-year.
    • Revenue: Total revenue was $862 million, an increase of 23% year-over-year. Subscription revenue was $794 million, an increase of 27% year-over-year.
    • Operating Income (Loss): GAAP operating loss was $189 million, or (21.9)% of revenue, compared to $333 million, or (47.6)% of revenue in FY 2024. Adjusted income from operations was $133 million, or 15.4% of revenue, compared to $54 million, or 7.8% of revenue in FY 2024.

    Financial Outlook

    For the first quarter of fiscal 2026, SailPoint expects:

    • Total ARR: In the range of $896 to $900 million, representing 26% to 27% year-over-year growth.
    • Total Revenue: In the range of $224 to $226 million, representing 19% to 20% year-over-year growth.
    • Adjusted Income from Operations: In the range of $14 to $15 million, representing adjusted operating margin of 6.2% to 6.7%.
    • Adjusted EPS: In the range of ($0.02) to $0.00 per diluted share.

    For the fiscal full year 2026, SailPoint expects:

    • Total ARR: In the range of $1,075 to $1,085 million, representing 23% to 24% year-over-year growth.
    • Total Revenue: In the range of $1,025 to $1,035 million, representing 19% to 20% year-over-year growth.
    • Adjusted Income from Operations: In the range of $151 to $156 million, representing adjusted operating margin of 14.6% to 15.2%.
    • Adjusted EPS: In the range of $0.14 to $0.18 per diluted share.

    These statements regarding SailPoint’s expectations of its financial outlook are forward-looking and actual results may differ materially. Refer to “Forward-Looking Statements” below for information on the factors that could cause SailPoint’s actual results to differ materially from these forward-looking statements.

    All of SailPoint’s forward-looking non-GAAP financial measures exclude estimates for stock-based compensation expense and amortization of acquired intangibles as well as acquisition related costs and severance of certain key executives, if applicable. SailPoint has not reconciled its expectations as to adjusted income (loss) from operations and adjusted EPS to their most directly comparable GAAP measure due to the high variability and difficulty in making accurate forecasts and projections, particularly with respect to stock-based compensation expense. Stock-based compensation expense is affected by future hiring, turnover, and retention needs, as well as the future fair market value of our common stock, all of which are difficult to predict and subject to change. The actual amount of the excluded stock-based compensation expense will have a significant impact on SailPoint’s GAAP income (loss) from operations and GAAP net income (loss) per basic and diluted common share. Accordingly, reconciliations of our forward-looking adjusted income (loss) from operations and adjusted EPS are not available without unreasonable effort.

    Investor Conference Call and Webcast

    SailPoint will host a conference call today at 8:30 a.m. Eastern Time to discuss the results and outlook. A live webcast of the conference call and a presentation regarding SailPoint’s fiscal fourth quarter and full year 2025 financial results will be available on SailPoint’s website at https://investors.sailpoint.com. 

    An audio replay of the conference call will be available on the investor relations website for one year.

    About SailPoint

    SailPoint, Inc. (Nasdaq: SAIL) equips the modern enterprise to seamlessly manage and secure access to applications and data through the lens of identity – at speed and scale. As a category leader, we continuously reinvent identity security as the foundation of the secure enterprise. SailPoint delivers a unified, intelligent, extensible platform built to defend against today’s dynamic, identity-centric cyber threats while enhancing productivity and efficiency. SailPoint helps many of the world’s most complex, sophisticated enterprises create a secure technology ecosystem that fuels business transformation.

    Non-GAAP Financial Measures

    In addition to our financial information presented in accordance with GAAP, we use certain non-GAAP financial measures to clarify and enhance our understanding of past performance, including the following:

    Adjusted income from operations, which we define as income (loss) from operations excluding equity-based compensation expense, amortization of acquired intangible assets which includes impairment charges, impairment of intangible assets, acquisition-related expenses, benefit from amortization related to acquired contract acquisition costs, Thoma Bravo monitoring fees (which are annual service fees for consultation and advice related to corporate strategy, budgeting of future corporate investments, acquisition and divestiture strategies, and debt and equity financings pursuant to an advisory services agreement that was terminated upon the consummation of our initial public offering), and restructuring expenses.

    Adjusted operating margin, which we define as adjusted income from operations as a percentage of revenue.

    Adjusted EPS (or non-GAAP net income (loss) available to common stockholders per basic and diluted share), which we define as adjusted net income (loss) divided by the weighted average outstanding common shares. We calculate adjusted net income (loss) as net income (loss) on a GAAP basis excluding equity-based compensation expense, amortization of acquired intangible assets which includes impairment charges, impairment of intangible assets, acquisition-related expenses, benefit from amortization related to acquired contract acquisition costs, and Thoma Bravo monitoring fees. Adjusted net income (loss) is adjusted for the effect of income taxes associated with such adjustments.

    Our non-GAAP financial measures exclude items that neither relate to our ordinary course of business nor reflect our underlying business performance, such as equity-based compensation, the amortization of acquired intangible assets, and acquisition-related expenses. We believe these adjustments enable management and investors to compare our underlying business performance from period-to-period and provide investors with additional means to evaluate cost and expense trends. We also believe these adjustments enhance comparability of our financial performance against those of other technology companies. Accordingly, our management believes the presentation of our non-GAAP financial measures provides useful information to investors regarding our financial condition and results of operations. In addition, SailPoint’s management uses adjusted income (loss) from operations for budgeting and planning purposes, including with respect to its corporate bonus plan.

    Our non-GAAP financial measures are adjusted for the following factors, among others:

    Equity-based compensation expense. We believe that the exclusion of equity-based compensation expense is appropriate because it eliminates the impact of equity-based compensation costs that are based upon valuation methodologies and assumptions that vary over time, and the amount of the expense can vary significantly due to factors that are unrelated to our core operating performance and that can be outside of our control. Although we exclude equity-based compensation expenses from our non-GAAP measures, equity compensation has been, and will continue to be, an important part of our future compensation strategy and a significant component of our future expenses and may increase in future periods.

    Amortization of acquired intangible assets. We exclude amortization charges for our acquisition-related intangible assets and impairment of intangible assets for purposes of calculating certain non-GAAP measures to eliminate the impact of these non-cash charges and provide for a more meaningful comparison between operating results from period to period as the intangible assets are valued at the time of acquisition and are amortized over the useful life, which can be several years after the acquisition.

    Acquisition related costs. We believe that the exclusion of acquisition-related expenses is appropriate as they represent items that management believes are not indicative of our ongoing operating performance. These expenses are primarily composed of legal, accounting, and professional fees incurred that are not capitalizable and that are included within general and administrative expenses.

    Amortization related to acquired contract acquisition costs. On August 16, 2022, our predecessor was acquired in an all-cash take-private transaction by Thoma Bravo (the “Take-Private Transaction”). In accordance with GAAP reporting requirements, we have written off our contract acquisition costs at the time of the Take-Private Transaction. Therefore, GAAP commissions expense related to contract acquisition costs after the Take-Private Transaction do not reflect the commissions expense that would have been reported if the contract acquisition costs were not written off. Accordingly, we believe that presenting the approximate amount of acquisition-related commission expenses (so that the full amount of commission expense is included) provides a more appropriate representation of commission expense in a given period and, therefore, provides readers of our financial statements with a more consistent basis for comparison across accounting periods.

    SailPoint’s non-GAAP financial measures may not provide information that is directly comparable to that provided by other companies in our industry because they may calculate non-GAAP financial results differently. In addition, there are limitations in using non-GAAP financial measures because they are not prepared in accordance with GAAP and exclude expenses that may have a material impact on our reported financial results. The presentation of non-GAAP financial information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with GAAP. SailPoint urges you to review the reconciliations of our non-GAAP financial measures to the comparable GAAP financial measures included below, and not to rely on any single financial measure to evaluate its business.

    Definitions of Certain Key Business and Other Metrics

    Annual Recurring Revenue.   We define ARR as the annualized value of SaaS, maintenance, term subscription, and other subscription contracts as of the measurement date. To the extent that we are actively negotiating a renewal or new agreement with a customer after the expiration of a contract, we continue to include that contract’s annualized value in ARR until the customer notifies us that it is not renewing its contract. We calculate ARR by dividing the active contract value by the number of days of the contract and then multiplying by 365. ARR should be viewed independently of revenue, as ARR is an operating metric and is not intended to be combined with or to replace revenue. ARR is not a forecast of future revenue, which can be impacted by ASC 606 allocations, and ARR does not consider other sources of revenue that are not recurring in nature. ARR does not have a standardized meaning and is not necessarily comparable to similarly titled measures presented by other companies.

    SaaS Annual Recurring Revenue.   We define SaaS ARR as the annualized value of SaaS contracts as of the measurement date. To the extent that we are actively negotiating a renewal or new agreement with a customer after the expiration of a contract, we continue to include that contract’s annualized value in SaaS ARR until the customer notifies us that it is not renewing its contract. We calculate SaaS ARR by dividing the active SaaS contract value by the number of days of the contract and then multiplying by 365. SaaS ARR should be viewed independently of subscription revenue as SaaS ARR is an operating metric and is not intended to be combined with or replace subscription revenue. SaaS ARR is not a forecast of future subscription revenue, which can be impacted by ASC 606 allocations and renewal rates and does not consider other sources of revenue that are not recurring in nature. SaaS ARR does not have a standardized meaning and is not necessarily comparable to similarly titled measures presented by other companies.

    Subscription Revenue.   The majority of our revenue relates to subscription revenue which consists of (i) fees for access to, and related support for, the SaaS offerings, (ii) fees for term subscriptions, (iii) fees for ongoing maintenance and support of perpetual license solutions, and (iv) other subscription services such as cloud managed services, and certain professional services. Term subscriptions include the term licenses and ongoing maintenance and support. Maintenance and support agreements consist of fees for providing software updates on a when and if available basis and for providing technical support for software products for a specified term.

    Subscription revenue, including support for term licenses, is recognized ratably over the term of the applicable agreement. Revenue related to term subscription performance obligations, excluding support for term subscriptions, is recognized upfront at the point in time when the customer has taken control of the software license.

    The Rule of 40. The Rule of 40 is a common SaaS industry metric used to evaluate the performance of SaaS providers by assessing a company’s balance between growth and profitability and postulates that a SaaS company’s revenue growth rate and profit margin should equal or exceed 40%. A total of above 40% is thought to indicate a healthy combination of expansion and financial stability. For SailPoint, the Rule of 40 is computed by adding the year-over-year ARR growth rate with our adjusted operating margin.

    Explanatory Note Regarding Our Corporate Conversion

    Prior to February 12, 2025, we were a Delaware limited partnership named SailPoint Parent, LP. On February 12, 2025, in connection with our initial public offering, SailPoint Parent, LP converted into a Delaware corporation pursuant to a statutory conversion and changed its name to SailPoint, Inc. References to “SailPoint,” “we, and “our” (i) for periods prior to such corporate conversion are to SailPoint Parent, LP and where appropriate, its consolidated subsidiaries and (ii) for periods after such corporate conversion are to SailPoint, Inc. and where appropriate, its consolidated subsidiaries.

    Forward-Looking Statements

    This press release and statements made during the above referenced conference call may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our strategy, future operations, financial position, prospects, plans and objectives of management, growth rate and our expectations regarding future revenue, operating income or loss or earnings or loss per share. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “will be,” “will likely result,” “should,” “expects,” “plans,” “anticipates,” “could,” “would,” “foresees,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “outlook,” or “continue” or the negative of these words or other similar terms or expressions. These forward-looking statements are not guarantees of future performance, but are based on management’s current expectations, assumptions, and beliefs concerning future developments and their potential effect on us, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Our expectations expressed or implied in these forward-looking statements may not turn out to be correct. Our results could be materially different from our expectations because of various risks.

    Important factors, some of which are beyond our control, that could cause actual results to differ materially from our historical results or those expressed or implied by these forward-looking statements include the following: our ability to sustain historical growth rates; our ability to attract and retain customers; our ability to deepen our relationships with existing customers; the growth in the market for identity security solutions; our ability to maintain success relationships with each of our partners; the length and unpredictable nature of our sales cycle; our ability to compete successfully against current and future competitors; the increasing complexity of our operations; our ability to maintain and enhance our brand or reputation as an industry leader and innovator; unfavorable conditions in our industry or the global economy; our estimated market opportunity and forecasts of our market and market growth may prove to be inaccurate; our ability to hire, train and motivate our personnel; our ability to maintain our corporate culture; our ability to successfully introduce, use, and integrate artificial intelligence (AI) with our solutions; breaches in our security, cyber attacks, or other cyber risks; interruptions, outages, or other disruptions affecting the delivery of our SaaS solution or any of the third-party cloud-based systems that we use in our operations; our ability to adapt and respond to rapidly changing technology, industry standards, regulations, or customer needs, requirements, or preferences; real or perceived errors, failures, or disruptions in our platform or solutions; the ability of our platform and solutions to effectively interoperate with our customers’ existing or future IT infrastructures; and our ability to comply with our privacy policy or related legal or regulatory requirements. More information on these risks and other potential factors that could affect our financial results is included in our filings with the Securities and Exchange Commission, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our upcoming Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and other filings. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release or made during the above referenced conference call. We cannot assure you that the results, events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results, events, or circumstances could differ materially from those described in the forward-looking statements.

    Any forward-looking statement made in this press release or during the above referenced conference call speaks only as of the date as of which such statement is made, and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events, or otherwise.

    Investor Relations Contact
    Scott Schmitz, SVP IR
    ir@sailpoint.com 

    Media Relations Contact
    Samantha Person, Senior Manager, Corporate Communications
    Samantha.person@sailpoint.com 

    SAILPOINT PARENT, LP AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (In thousands, except per unit amounts)
           
      (Unaudited)   (Audited)
      Three months ended January 31,   Twelve months ended January 31,
        2025       2024       2025       2024  
    Revenue              
    Subscription $ 224,379     $ 184,288     $ 793,919     $ 622,830  
    Perpetual licenses   40       742       400       5,842  
    Services and other   15,702       17,677       67,292       70,900  
    Total revenue   240,121       202,707       861,611       699,572  
    Cost of revenue              
    Subscription   62,407       54,817       236,581       205,053  
    Perpetual licenses   33       164       154       2,227  
    Services and other   17,909       17,991       68,998       69,355  
    Total cost of revenue   80,349       72,972       305,733       276,635  
    Gross profit   159,772       129,735       555,878       422,937  
    Operating expenses              
    Research and development   45,456       45,933       169,730       180,778  
    Sales and marketing   116,865       122,837       466,903       461,187  
    General and administrative   27,665       26,193       107,979       113,701  
    Total operating expenses   189,986       194,963       744,612       755,666  
    Loss from operations   (30,214 )     (65,228 )     (188,734 )     (332,729 )
    Other income (expense), net              
    Interest income   543       2,627       4,158       10,658  
    Interest expense   (46,527 )     (47,569 )     (186,652 )     (187,059 )
    Other income (expense), net   (2,202 )     (884 )     (5,401 )     (3,219 )
    Total other income (expense), net   (48,186 )     (45,826 )     (187,895 )     (179,620 )
    Loss before income taxes   (78,400 )     (111,054 )     (376,629 )     (512,349 )
    Income tax benefit (expense)   (1,704 )     23,791       60,799       116,982  
    Net loss $ (80,104 )   $ (87,263 )   $ (315,830 )   $ (395,367 )
    Class A yield   (292,110 )     (152,197 )     (764,549 )     (583,672 )
    Net loss attributable to Class B unitholders   (372,214 )     (239,460 )     (1,080,379 )     (979,039 )
    Loss per unit attributable to Class B unitholders – basic and diluted $ (4.29 )   $ (2.93 )   $ (12.91 )   $ (12.13 )
    Weighted average Class B Units outstanding – basic and diluted   86,781       81,651       83,716       80,746  
                                   
    SAILPOINT PARENT, LP AND SUBSIDIARIES
    CONSOLIDATED BALANCE SHEETS
    (In thousands, except units)
     
      January 31, 2025   January 31, 2024
           
    Assets      
    Current assets      
    Cash and cash equivalents $ 121,293     $ 211,647  
    Accounts receivable, net of allowance   254,050       213,307  
    Contract acquisition costs   32,834       18,668  
    Contract assets, net of allowance   58,335       51,703  
    Prepayments and other current assets   45,870       35,752  
    Total current assets   512,382       531,077  
    Property and equipment, net   22,879       16,332  
    Contract acquisition costs, non-current   94,270       61,657  
    Contract assets, non-current, net of allowance   33,788       28,717  
    Other non-current assets   36,206       33,219  
    Goodwill   5,151,668       5,138,855  
    Intangible assets, net   1,560,723       1,779,875  
    Total assets $ 7,411,916     $ 7,589,732  
    Liabilities, redeemable convertible units and partners’ deficit      
    Current liabilities      
    Accounts payable $ 3,515     $ 8,820  
    Accrued expenses and other liabilities   158,135       117,570  
    Deferred revenue   413,043       335,465  
    Total current liabilities   574,693       461,855  
    Deferred tax liabilities, non-current   136,528       206,464  
    Other long-term liabilities   32,128       24,954  
    Deferred revenue, non-current   36,399       36,575  
    Long-term debt, net   1,024,467       1,562,215  
    Total liabilities   1,804,215       2,292,063  
    Commitments and contingencies      
    Redeemable convertible units, no par value, unlimited units authorized, 499,052,847 and 454,618,712 units issued and outstanding as of January 31, 2025 and 2024, respectively; aggregate liquidation preference of $8,100,352 and $6,861,381 as of January 31, 2025 and 2024, respectively   11,196,141       5,838,864  
    Partners’ deficit      
    Additional paid in capital   —       37,431  
    Accumulated deficit   (5,588,440 )     (578,626 )
    Total partners’ deficit   (5,588,440 )     (541,195 )
    Total liabilities, redeemable convertible units and partners’ deficit $ 7,411,916     $ 7,589,732  
     
    SAILPOINT PARENT, LP AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (In thousands)
       
      Year ended January 31,
        2025       2024  
    Cash flows from operating activities      
    Net loss $ (315,830 )   $ (395,367 )
    Adjustments to reconcile net loss to net cash used in operating activities:      
    Depreciation and amortization expense   237,248       263,638  
    Amortization and write-off of debt discount and issuance costs   12,685       4,152  
    Amortization of contract acquisition costs   24,899       11,519  
    (Gain) loss on disposal of property and equipment   —       36  
    Provision for credit losses   2,534       1,662  
    Equity-based compensation expense   31,714       37,469  
    Deferred taxes   (71,209 )     (124,919 )
    Net changes in operating assets and liabilities, net of business acquisitions      
    Accounts receivable   (41,653 )     (57,397 )
    Contract acquisition costs   (71,678 )     (61,716 )
    Contract assets   (11,730 )     (21,139 )
    Prepayments and other current assets   (13,744 )     (594 )
    Other non-current assets   6,006       (87 )
    Operating leases, net   293       335  
    Accounts payable   (5,346 )     4,232  
    Accrued expenses and other liabilities   36,565       22,634  
    Deferred revenue   72,855       65,188  
    Net cash used in operating activities   (106,391 )     (250,354 )
    Cash flows from investing activities      
    Purchase of property and equipment   (5,362 )     (2,577 )
    Proceeds from sale of property and equipment   14       31  
    Capitalized software development costs   (8,219 )     —  
    Purchase of intangible assets   —       (1,900 )
    Business acquisitions, net of cash acquired   (15,377 )     (8,218 )
    Net cash used in investing activities   (28,944 )     (12,664 )
    Cash flows from financing activities      
    Proceeds from issuance of units   600,321       51,743  
    Proceeds from revolving line of credit   25,000       —  
    Repayments to revolving line of credit   (25,000 )     —  
    Repayment of term loan   (550,000 )     —  
    Payments of deferred offering costs   (2,892 )     —  
    Repurchase of units   (6,172 )     (1,311 )
    Net cash provided by financing activities   41,257       50,432  
    Net change in cash, cash equivalents and restricted cash   (94,078 )     (212,586 )
    Cash, cash equivalents and restricted cash, beginning of period   218,468       431,054  
    Cash, cash equivalents and restricted cash, end of period $ 124,390     $ 218,468  
                   
    SAILPOINT PARENT, LP AND SUBSIDIARIES
    RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
    (Amounts in thousands, except percentages)
    (Unaudited)
     
      Three months ended January 31,   Twelve months ended January 31,
        2025       2024       2025       2024  
               
    GAAP gross profit $ 159,772     $ 129,735     $ 555,878     $ 422,937  
    GAAP gross profit margin   66.5 %     64.0 %     64.5 %     60.5 %
    Equity-based compensation expense   3,797       2,782       13,771       12,447  
    Amortization of acquired intangible assets   25,896       25,819       103,483       102,967  
    Acquisition-related expenses and Thoma Bravo monitoring fees   —       58       —       58  
    Restructuring   —       6       —       94  
    Adjusted gross profit $ 189,465     $ 158,400     $ 673,132     $ 538,503  
    Adjusted gross profit margin   78.9 %     78.1 %     78.1 %     77.0 %
                                   
      Three months ended January 31,   Twelve months ended January 31,
        2025       2024       2025       2024  
               
    GAAP subscription gross profit $ 161,972     $ 129,471     $ 557,338     $ 417,777  
    GAAP subscription gross profit margin   72.2 %     70.3 %     70.2 %     67.1 %
    Equity-based compensation expense   1,999       1,391       7,119       6,675  
    Amortization of acquired intangible assets   25,863       25,666       103,329       100,820  
    Acquisition-related expenses and Thoma Bravo monitoring fees   —       58       —       58  
    Restructuring   —       6       —       85  
    Adjusted subscription gross profit $ 189,834     $ 156,592     $ 667,786     $ 525,415  
    Adjusted subscription gross profit margin   84.6 %     85.0 %     84.1 %     84.4 %
                                   
      Three months ended January 31,   Twelve months ended January 31,
        2025       2024       2025       2024  
               
    GAAP income (loss) from operations $ (30,214 )   $ (65,228 )   $ (188,734 )   $ (332,729 )
    GAAP income (loss) from operations margin (12.6)%   (32.2)%   (21.9)%   (47.6)%
    Equity-based compensation expense   27,375       30,588       99,569       134,819  
    Amortization of acquired intangible assets   49,609       64,345       230,308       257,029  
    Amortization of acquired contract acquisition costs   (6,027 )     (6,921 )     (25,682 )     (28,461 )
    Acquisition-related expenses and Thoma Bravo monitoring fees   4,893       5,042       17,283       20,051  
    Restructuring   —       (18 )     —       3,541  
    Adjusted income (loss) from operations $ 45,636     $ 27,808     $ 132,744     $ 54,250  
    Adjusted operating margin   19.0 %     13.7 %     15.4 %     7.8 %

    The MIL Network –

  • MIL-OSI: Bitfarms Appoints James Bond as Senior Vice President of High-Performance Computing

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 26, 2025 (GLOBE NEWSWIRE) — Bitfarms Ltd. (NASDAQ/TSX: BITF), a global Bitcoin and vertically integrated data center company, today announced that it has appointed James Bond as Senior Vice President of High-Performance Computing (“HPC”).

    Mr. Bond is a subject matter expert in HPC/AI with a proven record of launching new cloud and service provider offerings for large scale data centers across the U.S. He has over 20 years’ experience in public sector solution architecture and IT infrastructure design and implementation, including 15 years at Hewlett Packard Enterprise (“HPE”) where he most recently led their North America HPC/AI infrastructure platforms category. Under his leadership, the business grew to $2 billion in 2024, representing annual growth of 160%. At HPE North America, Mr. Bond was responsible for all HPC/AI go-to-market activities including the creation of new customer offerings, designing sales and pricing programs, managing partners, including NVIDIA, Intel and others, and managing net new logo sales and business development teams.

    Prior to HPE, Mr. Bond led all product development, engineering, marketing, operations, and pre-sales business development for Apptix, the largest (at the time) Application Service Provider for Microsoft Exchange, SharePoint, and Unified Communications. Prior to Apptix, Mr. Bond served as the Chief Technology Officer and Co-Founder of IceWEB, where he created one of the first fully automated software-as-a-service (SaaS) cloud offerings, before cloud and SaaS terms were coined.

    Mr. Bond is also the author of “The Enterprise Cloud” and a keynote speaker at industry events nation-wide, covering topics, such as the benefits of on-premise and hybrid cloud, AI/GenAI use cases, and how to build and deploy AI infrastructure including GPUs, HPC storage, and power/cooling specifically tuned for AI workloads. He holds a Bachelor’s Degree in Computer and Information Science from the University of Maryland.

    CEO Ben Gagnon stated, “We are thrilled to welcome James into this critically important role for Bitfarms. James, and the team he builds around him, will spearhead the development and implementation of our long-term HPC/AI strategy. With our Pennsylvania pipeline of 1.1GW of secured power, we are in a strong position to develop an HPC/AI business geared for scale in the U.S. James’ impressive track record of implementing HPC solutions at scale and driving exponential growth for HPE’s HPC business makes him the ideal candidate to lead this new growth chapter at Bitfarms.”

    James Bond stated, “I am excited to join the talented team at Bitfarms at such a pivotal time in their growth trajectory. I look forward to leveraging their premium Pennsylvania properties, existing data centers, and power capacity to deploy a world-class high-performance computing infrastructure to host state-of-the-art artificial intelligence solutions for future customers.”

    About Bitfarms Ltd.

    Founded in 2017, Bitfarms is a global Bitcoin and vertically integrated data center company that sells its computational power to one or more mining pools from which it receives payment in Bitcoin. Bitfarms develops, owns, and operates vertically integrated mining facilities with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers.

    Bitfarms currently has 15 operating Bitcoin data centers in four countries: the United States, Canada, Paraguay, and Argentina. Powered predominantly by environmentally friendly hydro-electric and long-term power contracts, Bitfarms is committed to using sustainable and often underutilized energy infrastructure.

    To learn more about Bitfarms’ events, developments, and online communities:

    www.bitfarms.com
    https://www.facebook.com/bitfarms/
    https://x.com/Bitfarms_io
    https://www.instagram.com/bitfarms/
    https://www.linkedin.com/company/bitfarms/

    Glossary of Terms

    • HPC/AI = High Performance Computing / Artificial Intelligence
    • GW = Gigawatt

    Forward-Looking Statements

    This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) that are based on expectations, estimates and projections as at the date of this news release and are covered by safe harbors under Canadian and United States securities laws. The statements and information in this release regarding the ability to enhance the business of the Company through adding additional human resources to HPC/AI strategies, opportunities relating to the potential of the Company’s data centers for HPC/AI opportunities, the merits and ability to secure long-term contracts associated with HPC/AI customers, the North American energy and compute infrastructure strategy, projected growth, target hashrate, and other statements regarding future growth, plans and objectives of the Company are forward-looking information. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “prospects”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.

    This forward-looking information is based on assumptions and estimates of management of the Company at the time they were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to: the anticipated benefits of the rebalancing of operations to North America and the North American energy and compute infrastructure strategy may not be realized; an inability to apply the Company’s data centers to HPC/AI opportunities on a profitable basis; a failure to secure long-term contracts associated with HPC/AI customers on terms which are economic or at all; the construction and operation of the Company’s facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of hydroelectricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company’s electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company’s profitability; future capital needs and the ability to complete current and future financings, including Bitfarms’ ability to utilize an at-the-market offering program ( “ATM Program”) and the prices at which securities may be sold in such ATM Program, as well as capital market conditions in general; share dilution resulting from an ATM Program and from other equity issuances; the risk that a material weakness in internal control over financial reporting could result in a misstatement of the Company’s financial position that may lead to a material misstatement of the annual or interim consolidated financial statements if not prevented or detected on a timely basis; any regulations or laws that will prevent Bitfarms from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; and the adoption or expansion of any regulation or law that will prevent Bitfarms from operating its business, or make it more costly to do so. For further information concerning these and other risks and uncertainties, refer to the Company’s filings on www.sedarplus.ca (which are also available on the website of the U.S. Securities and Exchange Commission at www.sec.gov), including the restated MD&A for the year-ended December 31, 2023, filed on December 9, 2024. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those expressed in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended, including factors that are currently unknown to or deemed immaterial by the Company. There can be no assurance that such statements will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on any forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law. Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the Toronto Stock Exchange, Nasdaq, or any other securities exchange or regulatory authority accepts responsibility for the adequacy or accuracy of this release.

    Investor Relations Contacts:

    Tracy Krumme
    SVP, Head of IR & Corp. Comms.
    +1 786-671-5638
    tkrumme@bitfarms.com

    Media Contacts:

    Caroline Brady Baker
    Director, Communications
    cbaker@bitfarms.com

    The MIL Network –

  • MIL-OSI: Trident Announces Strategic Collaboration with Two Global E-Commerce Firms

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, March 26, 2025 (GLOBE NEWSWIRE) — Trident Digital Tech Holdings Ltd (“Trident” or the “Company,” NASDAQ: TDTH), a leading catalyst for digital transformation in technology optimization services and Web 3.0 activation based in Singapore, today announced it has entered into a strategic collaboration agreement (the “Collaboration Agreement”) with two partners in the e-commerce sector. Per the Collaboration Agreement, Trident will join forces with Silkoo Dutyfree Limited (“Silkoo”), an e-commerce retailer and import-export trader, and Haitu Trade Co., Limited (“Haitu”), an e-commerce entity specializing in beauty and cosmetics, to foster a synergistic partnership that drives business growth, enhances customer satisfaction, and promotes operational efficiency.

    The agreement establishes a framework for cooperation in several key areas, including data analytics, strategic planning, supply chain optimization, platform integration, and customer experience enhancement. As a result of the collaboration, the parties hope to drive mutual growth through consumer data synergies, coordinated market strategies, optimized logistics networks in Southeast Asia, expanded inter-platform ecosystems, and the delivery of seamless, personalized customer experiences that foster loyalty and operational excellence.

    Each company will bring unique operational strengths to the table. Trident will contribute its sophisticated Web 3.0-based digital identity platform, Tridentity, which offers secure authentication across its diverse ecosystem of services including Tri-food, Tri-events, Tri-Buy, and TriVerse. This will create a comprehensive digital experience framework that can serve as the technological backbone for the partnership. Silkoo will provide extensive e-commerce expertise with its established presence in five Southeast Asian countries, along with valuable third-party merchant status on TikTok Global Shop that will drive substantial customer data acquisition and cross-border sales capabilities. Haitu will contribute specialized knowledge in cosmetics and beauty product distribution, bringing its successful experience as a proprietor of an overseas cosmetic account on Pinduoduo, which provides access to diverse global customer segments and market insights.

    Together, these complementary strengths aim to create a powerful alliance that combines Trident’s technological innovation, Silkoo’s regional e-commerce presence, and Haitu’s specialized product expertise to develop an integrated digital commerce ecosystem.

    Soon Huat Lim, Founder, Chairman, and Chief Executive Officer of Trident, stated, “This strategic collaboration represents a significant milestone in our e-commerce journey. By combining our cutting-edge Tridentity platform with Silkoo’s e-commerce network and Haitu’s specialized expertise, we’re creating a powerful ecosystem that transcends traditional boundaries. Our partnership will leverage data analytics, streamlined supply chains, and optimized integration to deliver exceptional customer experiences across multiple touchpoints. Together, we endeavor to expand our market reach while fundamentally reimagining how digital commerce can seamlessly connect consumers with products and services throughout Southeast Asia and across the globe.”

    About Trident
    Trident is a leading catalyst for digital transformation in digital optimization, technology services, and Web 3.0 activation worldwide based in Singapore. The Company offers commercial and technological digital solutions designed to optimize its clients’ experience with their end-users by promoting digital adoption and self-service.

    Tridentity, the Company’s flagship product, is an innovative and highly secure blockchain-based identity solution designed to provide secure single sign-on authentication capabilities to integrated third-party systems across various industries. Tridentity aims to offer unparalleled security features, ensuring the protection of sensitive information and preventing potential threats, thus promising a new secure era in the global digital landscape in general, and in Southeast Asia etc.

    Beyond Tridentity, the Company’s mission is to become the global leader in Web 3.0 activation, notably connecting businesses to a reliable and secure technological platform, with tailored and optimized customer experiences.

    About Silkoo
    Silkoo Dutyfree Limited is primarily engaged in the business of E-commerce, online retail, import and export and trading (electrical equipment, furniture, cosmetics, etc.) Silkoo also owns and operates the “Shepinport” intellectual property across five countries in Southeast Asia, including Singapore, Malaysia, Vietnam, Thailand, and the Philippines. As an authorised third-party merchant on TikTok Global Shop, Silkoo Dutyfree leverages the platform to drive customer data, traffic, and sales, offering a range of products to its customers.

    About Haitu
    Haitu Trade Co. Limited is a specialized e-commerce entity principally engaged in the online retail and distribution of cosmetics and beauty products. Notably, the company is the proprietor of an overseas cosmetic account on the Pin Duo Duo (PDD) platform, thereby leveraging this prominent digital marketplace to cater to a diverse customer base across different regions in the world.

    Safe Harbor Statement
    This announcement contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in announcements and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s strategies, future business development, and financial condition and results of operations; the expected growth of the digital solutions market; the political, economic, social and legal developments in the jurisdictions that the Company operates in or in which the Company intends to expand its business and operations; the Company’s ability to maintain and enhance its brand. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this announcement is as of the date of this announcement, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    Investor and Media Contacts
    Investor Relations
    Robin Yang, Partner
    ICR, LLC
    Email: investor@tridentity.me
    Phone: +1 (212) 321-0602

    Media Relations
    Brad Burgess, SVP
    ICR, LLC
    Email: Brad.Burgess@icrinc.com

    The MIL Network –

  • MIL-OSI New Zealand: Government unlocks export growth opportunities for New Zealand dairy businesses

    Source: New Zealand Government

    The Government’s commitment to growing the value of New Zealand’s dairy exports has taken a major step forward with the passing of a key Bill in Parliament, Agriculture Minister Todd McClay announced today.

    “The Dairy Industry Restructuring (Export Licences Allocation) Amendment Bill, which passed its third reading today, modernises New Zealand’s dairy export quota system, creating new opportunities for growth and boosting farmgate returns,” Mr McClay says.

    “New Zealand’s dairy farmers and processors produce world-class products, but outdated rules have restricted export growth. This law unlocks greater access to lucrative overseas markets and ensures the quota system reflects the diversity of our dairy industry.”

    New Zealand currently administers dairy export quotas for the Dominican Republic, the European Union, Japan, the United Kingdom, and the United States.

    “The Bill introduces vital changes to better support businesses of all sizes, and it shifts quota allocation from the proportion of milk solids a company collects from farmers to a system based on export performance,” Mr McClay says.

    “It also reserves portions of quotas for exporters who are currently ineligible — ensuring fairer access across the industry.

    “And importantly, it now includes quota for sheep, goat, and deer milk processors, unlocking new export opportunities and revenue streams.”

    Mr McClay says the Bill directly supports the Government’s ambitious goal of doubling the value of New Zealand’s exports in 10 years.

    The commencement date for the Bill is 1 May 2025.

    MIL OSI New Zealand News –

  • MIL-OSI: Global Net Lease Successfully Closes First Phase of Multi-Tenant Portfolio Sale

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, March 26, 2025 (GLOBE NEWSWIRE) — Global Net Lease, Inc. (NYSE: GNL) (“GNL” or the “Company”) announced the successful closing of the first phase of the sale of its multi-tenant portfolio to RCG Ventures, LLC on March 25, 2025. This initial phase includes 59 unencumbered properties, totaling approximately $1.1 billion in gross proceeds upon closing.

    GNL expects to remain on schedule to complete the sale of the 41 encumbered properties in two additional phases by the end of the second quarter of 2025. GNL intends to use the net proceeds from the multi-tenant portfolio sale to significantly reduce leverage and pay down the outstanding balance on GNL’s Revolving Credit Facility.

    “We are pleased with the progress of the multi-tenant portfolio sale, as demonstrated by the closing of the unencumbered portfolio,” said Michael Weil, CEO of GNL. “Completing this first phase reflects our disciplined execution of the plan we outlined on our Q4 2024 earnings call. This important milestone of our strategic transaction accelerates our deleveraging plan and further strengthens our balance sheet and liquidity. We believe it represents a significant step toward unlocking potential value in GNL by enhancing our capital structure, lowering our cost of capital, and providing the financial flexibility to support long-term growth.”

    About Global Net Lease, Inc.

    Global Net Lease, Inc. (NYSE: GNL) is a publicly traded internally managed real estate investment trust that focuses on acquiring and managing a global portfolio of income producing net lease assets across the U.S., and Western and Northern Europe. Additional information about GNL can be found on its website at www.globalnetlease.com. 

    Important Notice

    The statements in this press release that are not historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. The words such as “may,” “will,” “seeks,” “anticipates,” “believes,” “expects,” “estimates,” “projects,” “potential,” “predicts,” “plans,” “intends,” “would,” “could,” “should” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside of the Company’s control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the risks that any potential future acquisition or disposition (including the proposed closing of the unencumbered properties portion of the multi-tenant portfolio) by the Company is subject to market conditions, capital availability and timing considerations and may not be identified or completed on favorable terms, or at all. Some of the risks and uncertainties, although not all risks and uncertainties, that could cause the Company’s actual results to differ materially from those presented in the Company’s forward-looking statements are set forth in the “Risk Factors” and “Quantitative and Qualitative Disclosures about Market Risk” sections in the Company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and all of its other filings with the U.S. Securities and Exchange Commission, as such risks, uncertainties and other important factors may be updated from time to time in the Company’s subsequent reports. Further, forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law.

    Contacts:
    Investor Relations
    Email: investorrelations@globalnetlease.com
    Phone: (332) 265-2020

    The MIL Network –

  • MIL-OSI: MEXC Announces Listing of Walrus (WAL) with 120,000 WAL and 70,000 USDT Prize Pools

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, March 26, 2025 (GLOBE NEWSWIRE) — MEXC, a leading global cryptocurrency exchange, is pleased to announce the Walrus (WAL) listing on March 27, 2025(UTC). To celebrate this significant addition to the exchange, MEXC is launching two special events with a combined prize pool of 120,000 WAL and 70,000 USDT for participants.

    Walrus is an eagerly anticipated project in the blockchain space, bringing a fresh approach to decentralized data storage. Developed with technical guidance from Mysten Labs, the team behind SUI blockchain, Walrus addresses critical infrastructure challenges faced by Web3 applications. The innovative platform works by fragmenting data into smaller pieces and distributing them across a global network of nodes, which significantly enhances access speed and creates resilience against potential network disruptions. This architecture makes Walrus particularly effective for storing and retrieving both standard data and rich media content, solving a persistent pain point in the blockchain ecosystem. The total supply of the project’s tokens is 5,000,000,000 WAL.

    MEXC has prepared exclusive events to mark the WAL listing, offering substantial rewards for participants:

    Event 1: Airdrop+

    The Airdrop+ event will run from March 26 to April 5, 2025(UTC), offering:

    • Benefit 1: Deposit and share 120,000 WAL (New user exclusive)
    • Benefit 2: Futures Challenge – Trade to share 50,000 USDT in Futures bonus (For all users)
    • Benefit 3: Invite new users and share 20,000 USDT (For all users)

    Event 2: Spread the Word & Win 1,000 USDT Rewards

    From March 26 to April 1, 2025(UTC), users can share the Airdrop+ event on social media for a chance to win a share of the 1,000 USDT prize pool.

    MEXC has established itself as an industry leader by consistently offering users early access to promising web3 projects. In 2024, MEXC introduced 2,376 new tokens, including 1,716 initial listings. Recent market analysis from TokenInsight confirms MEXC’s leading position in the industry — the exchange completed 461 spot listings, outpacing competitors like Gate by 1.5 times and Bitget by 4.5 times.

    Looking ahead, MEXC will continue to enhance its platform, offering advantages such as low fees, deep liquidity, a wide selection of trending tokens, and daily airdrops. This reaffirms MEXC’s user-centric approach, providing traders with early access to high-potential projects, generous rewards, and an optimal trading experience.

    For full event details and participation rules, visit the event page.

    About MEXC
    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 34 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
    MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

    Risk Disclaimer:
    The information provided in this article about cryptocurrencies does not represent MEXC’s official stance or investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully evaluate market fluctuations, project fundamentals, and potential financial risks before making any trading decisions.

    Source

    Contact:
    Lucia Hu
    PR Manager
    lucia.hu@mexc.com

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

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7f651b4f-3f7d-4f9d-8ea5-6d51d91ef083

    The MIL Network –

  • MIL-OSI: DEX3.AI: Next-Gen DEX Elevating Meme Trading on Solana to New Heights

    Source: GlobeNewswire (MIL-OSI)

    HANOI, Vietnam, March 26, 2025 (GLOBE NEWSWIRE) — The cryptocurrency market in 2025 is a whirlwind of opportunity and risk, with meme coins driving unprecedented excitement on Solana — a blockchain celebrated for its speed and low costs. Enter DEX3.AI, a next-generation decentralized exchange (DEX) launched to empower meme traders with cutting-edge intelligence. As of March 18, 2025, DEX3.AI stands out by offering not just speed and usability, but a suite of advanced tools: Square Pie Chart money flow tracking, scam detection, wash trading alerts, and real-time insights into X accounts and token ownership. Tailored for Solana’s meme coin frenzy, DEX3.AI is the ultimate weapon for traders seeking smarter decisions in a chaotic market.

    Solana: The Epicenter of Meme Coin Mania

    Solana’s appeal to meme traders is undeniable. With over 65,000 transactions per second (TPS) and fees averaging 0.0001 SOL (a few cents), it’s a dream for those chasing rapid pumps and dumps. The 2024 rise of Pump.fun, which amassed $71.5 million in fees in November, solidified Solana as the meme coin hub. DEX3.AI steps into this arena with a mission: arm traders with the sharpest tools to navigate Solana’s wild ecosystem.

    DEX3.AI: Intelligence Meets Intuition

    DEX3.AI redefines what a DEX can be, merging AI-driven analytics with a trader-first design. Its upgraded features go beyond trading — they protect and inform. Here’s what sets it apart:

    1. Square Pie Chart Money Flow Tracking
    DEX3.AI’s Square Pie Chart interface transforms complex money flows into a clear, color-coded snapshot. Tracking whales, Smart Money, and KOLs (Key Opinion Leaders), it shows who’s buying or selling in real time. This visual brilliance makes market moves instantly digestible, giving traders the edge to act fast.

    2.  Smart Risk Detection: Scams and Wash Trading
    Meme coins are rife with scams and manipulation, but DEX3.AI fights back with AI-powered risk detection. It flags potential scams by analyzing token contracts for red flags (e.g., hidden mint functions) and alerts users to wash trading patterns — artificial volume spikes designed to mislead. This proactive shield helps traders avoid traps, a leap beyond basic DEXs like Raydium or Bullx.

    3.  X Account Insights: Transparency in Influence
    DEX3.AI digs into X accounts tied to tokens, revealing critical details: how many times a name has changed (a scam signal), follower count (influence level), and activity patterns. A KOL with 100K followers pumping a coin gets weighted differently than a renamed ghost account. These insights, updated live, empower traders to gauge hype versus reality.

    4.  Real-Time Ownership Breakdown
    Knowledge is power, and DEX3.AI delivers it with real-time token ownership analytics. See how much Devs, Insiders, and Snipers (early buyers) hold. If Devs control 70% of supply or Snipers are dumping, you’ll know instantly — crucial data for deciding whether to jump in or bail out.

    5.  Seamless PC and Mobile Interface
    Speed meets simplicity with DEX3.AI’s intuitive interface, optimized for PC and mobile. Swap tokens, monitor risks, or check X trends — all in a clean, responsive layout. Whether at home or on the move, traders stay in control

    6.  Deep Signals: AI-Driven Predictions
    Upgraded with AI, Deep Signals tracks money flows from whales, smart money, KOL and predicts trends by fusing on-chain data with X buzz. It flags tokens gaining traction — visualized in the Square Pie Chart — and warns of fading momentum, giving traders a predictive edge no rival can match.

    7.  High-Speed Trading Precision
    Built for Solana’s sub-400-millisecond confirmations, DEX3.AI ensures trades hit the blockchain at lightning speed. This precision is a lifeline in meme coin volatility, letting traders snipe launches or exit pumps before the crash.

    DEX3.AI vs. The Field
    DEX3.AI outshines its market competitors with wallet-tracking features that detect token trends and identify scams. Raydium and Jupiter excel in liquidity but fall short in providing risk assessment tools and real-time ownership data. Uniswap and PancakeSwap, constrained by slower chains, cannot match DEX3.AI’s Solana-optimized speed and intelligence. This DEX isn’t just better — it’s in a league of its own.

    Empowering Smarter Decisions
    What ties DEX3.AI’s features together is their purpose: better decisions. The Square Pie Chart clarifies money flows, scam alerts protect capital, X insights expose hype, and ownership data reveals risks — all in real time. A trader spotting a token with 80% Dev ownership and a suspicious X account can dodge a rug pull, while one seeing whale accumulation can ride the wave. This intelligence turns Solana’s chaos into opportunity.

    The Future of DEX3.AI
    In March 2025, as Solana’s meme coin scene surges, DEX3.AI is poised to dominate. Its blend of AI, risk detection, and trader-friendly design could evolve further — think deeper scam forensics or cross-chain meme tracking. DEX3.AI isn’t just keeping pace; it’s setting the DeFi standard.

    Conclusion

    DEX3.AI isn’t a typical DEX — it’s a meme trader’s dream on Solana. With Square Pie Charts, scam and wash trading detection, X account insights, real-time ownership breakdowns, and AI-driven signals, it delivers unmatched intelligence. For those navigating the meme coin jungle, DEX3.AI is the compass to profit and safety

    Website: https://dex3.ai
     X: https://x.com/dex3_ai

    Media Contact:

    Name: PHẠM QUỐC HUY
    Website: http://dex3.ai
    Email: huypq@dex3.ai
    Address: No2 Nguyen Co Thach Street, Ha Noi, Viet Nam

    Disclaimer: This press release is provided by DEX3.AI. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.Speculate only with funds that you can afford to lose.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/31f88daf-37c7-41da-b532-61d7057ec7a6
    https://www.globenewswire.com/NewsRoom/AttachmentNg/ff17c795-4aeb-4593-a73f-3299d7b24980
    https://www.globenewswire.com/NewsRoom/AttachmentNg/8aef8042-bc73-4a23-9e34-63f230cc4b76
    https://www.globenewswire.com/NewsRoom/AttachmentNg/0efb273f-8377-401e-a067-0817481e9f16

    The MIL Network –

  • MIL-OSI United Kingdom: TRA widens review of UK’s steel defences

    Source: United Kingdom – Executive Government & Departments

    News story

    TRA widens review of UK’s steel defences

    The TRA has  expanded the scope of its review of the steel safeguard measure to ensure new concerns raised by the UK steel industry are fully considered.

    The TRA has today (Wednesday 26 March) expanded the scope of its review of the steel safeguard measure to ensure new concerns raised by the UK steel industry are fully considered. 

    UK Steel, the trade association for the UK steel industry, submitted evidence to the TRA earlier this month that there have been changes in circumstance that may warrant a change to the current tariff rate quotas imposed. The TRA has therefore decided to examine this new evidence as part of a review already underway into the developing countries excepted from the safeguard measure. This will mean a solution can be found in a timely and efficient manner. 

    UK Steel’s submission noted that the quotas of certain categories of steel (namely categories 4, 7 and 13) are being dominated and exhausted by individual countries. The TRA has also acquired other data which indicates that there are other categories whose residual quotas have been exhausted early in the quarter (categories 5, 16, 17 and 21).  

    The submission also noted that there has been a decline in global demand for steel, both in the UK and globally, including China, where demand has fallen by 3%. The submission points to a fall in demand in the UK, and notes that demand has contracted by 16% between 2018 and 2023. UK Steel claims that against this backdrop, the current safeguard measure does not offer adequate protection to UK industry.  

    The TRA will therefore consider whether the tariff rate quotas to which certain steel products are subject should be varied. 

    Once the TRA has concluded its review of the tariff rate quota, it will publish an intended recommendation, allow interested parties to comment, before submitting a final recommendation to the Secretary of Business and Trade.  

    As a result of the expanded matters being considered in the review, interested parties can now register their interest or provide updated submissions via the TRA’s public file before 9 April 2025. 

    Notes to editors: 

    • The Trade Remedies Authority is the UK body that investigates whether new trade remedy measures are needed to counter unfair import practices and unforeseen surges of imports.
    • Trade remedy investigations were carried out by the EU Commission on the UK’s behalf until the UK left the EU. A number of EU trade remedy measures of interest to UK producers were transitioned into UK law when the UK left the EU and the TRA has been reviewing these to assess whether they are suitable for UK needs.
    • UK industries concerned about imports have been able to submit applications for a new trade remedy measure since January 2021. These applications are considered by the TRA to see if there are grounds for an investigation.

    Updates to this page

    Published 26 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Temenos continues to top ESG ratings from Dow Jones, S&P Global, Sustainalytics and CDP

    Source: GlobeNewswire (MIL-OSI)

    GRAND-LANCY, Switzerland, March 26, 2025 (GLOBE NEWSWIRE) — Temenos (SIX: TEMN), a global leader in mission-critical solutions for financial institutions, today announced that it has been recognized once again as a global sustainability leader by the top ESG ratings agencies.

    Temenos achieved the top score in the Software industry for the third year running in the 2024 Dow Jones Best-in-Class Indices (DJBICI) and was once again the only software company to be awarded a top 1% distinction in the S&P Global Sustainability Yearbook. Temenos was also classified as low risk in the Sustainalytics ESG Risk Rating Report and rated A- for climate by the Carbon Disclosure Project (CDP).

    These strong results from a range of respected organizations reflect Temenos’ ongoing commitment to sustainability, ESG disclosure and transparency, as well as the environmental benefits of its efficient software.

    Jean-Pierre Brulard, CEO, Temenos, commented: “We’re proud to be recognized once again for our leadership in sustainability with some of the highest ratings in the industry from a host of well-respected organizations, including Dow Jones and S&P Global. Our clients choose to work with us because we understand how crucial ESG is. Through our market-leading core banking suite, our best-in-class modular solutions and enhanced point solutions, Temenos is modernizing the banking industry, giving banks the power to operate reliably and sustainably.”

    By migrating banking operations to Temenos on the cloud or as SaaS, banks can significantly reduce their environmental impact. This is further enabled by Temenos’ end-to-end Enterprise Services, launched in 2024, which help banks to quickly deploy software solutions and take advantage of a leaner, agile and more efficient banking system.

    In May 2024, Temenos set a sustainability benchmark for cloud-native core banking with Microsoft. This showed the advances in Temenos’ leaner and more sustainable architecture to handle the variable demands of digital transactions while supporting banks to meet their sustainability goals. From a 2021 baseline and validated by GoCodeGreen, Temenos has reduced the carbon impact of its software by over 50%.

    Temenos is also helping clients measure, improve and report on the carbon footprint of their operations with the Carbon Emissions Calculator.

    Temenos is the only software company to be included in both the World and Europe DJBICI in 2024, with an overall score of 83 out of 100, its highest yet and the best of the 343 companies assessed in the industry. Temenos is one of 780 companies included in the S&P Global Sustainability Yearbook out of 7,690 assessed, and the only software company to rank among the top 1% of scores globally. The company also achieved the second-best ESG risk rating in Sustainalytics out of 374 companies assessed in the Enterprise and Infrastructure Software sub-industry.

    About Temenos
    Temenos (SIX: TEMN) is the world’s leading platform for banking, serving clients in 150 countries by helping them build new banking services and state-of-the-art customer experiences. Top performing banks using Temenos software achieve cost-income ratios almost half the industry average and returns on equity 2x the industry average. Their IT spend on growth and innovation is also 2x the industry average.

    For more information, please visit www.temenos.com.

    Media Contacts
     
    Scott Rowe & Michael Anderson
    Temenos Global Public Relations
    Tel: +44 20 7423 3857
    Email: press@temenos.com     		 Gabriel Goonetillake
    Temenos Team at Edelman Smithfield
    Tel: +44 7813 407710
    Temenos@EdelmanSmithfield.com 
       

    The MIL Network –

  • MIL-OSI United Kingdom: UK-Southeast Asia Tech Week 2025 in Manila

    Source: United Kingdom – Executive Government & Departments

    World news story

    UK-Southeast Asia Tech Week 2025 in Manila

    The UK Government recently hosted UK-Southeast Asia Tech Week in Manila, driving innovation, collaboration and investment.

    His Majesty’s Ambassador Laure Beaufils (second from right) and His Majesty’s Trade Commissioner Martin Kent (rightmost) sign a Strategic Partnership with Fintech Alliance Philippines, represented by Martha Borja and Lito Villanueva, to enhance UK-Philippines cooperation in the fintech sector, driving financial inclusion and technological advancement.

    Under the theme “Bridging Boundaries, Building a Resilient, Innovative, and Inclusive Tech Ecosystem,” the event held from 24 to 25 March 2025 showcased British cutting-edge technology and expertise while fostering partnerships to strengthen the region’s tech landscape.

    His Majesty’s Trade Commissioner for Asia Pacific, Martin Kent led the delegation of 12 pioneering British artificial intelligence (AI) and data companies, exploring opportunities for collaboration with Philippine partners in the tech ecosystem. He stated:

    The UK is a global leader in science and technology, with our tech ecosystem worth US$1.2 trillion – the 3rd largest in the world after the US and China.

    I am delighted to lead this delegation of cutting-edge companies to Manila for UK-Southeast Asia Tech Week to represent the UK’s tech prowess. The UK is committed to building opportunities for mutual prosperity with the Philippines, and I look forward to the innovation and new partnerships that will unfold from this week.

    Companies including NCC Group, iProov and Revolut took centre stage during the UK Tech Showcase, demonstrating their latest innovations in cybersecurity, biometric authentication, and digital banking.

    Panel discussions on AI and cybersecurity were conducted, providing insights on latest trends, emerging threats and best practices. The discussions also underscored the need for collaboration to address common challenges.

    Furthering the UK and Philippine tech partnership, His Majesty’s Ambassador Laure Beaufils signed a Strategic Partnership with Fintech Alliance Philippines to enhance cooperation in the fintech sector, driving financial inclusion and technological advancement across the industry. She shared:

    The UK is proud to be a long-standing partner in the Philippines’ digital journey, supporting initiatives that foster innovation, improve cybersecurity resilience and develop a skilled tech workforce.

    British Embassy Manila and Kickstart Ventures, the Philippines’ largest corporate venture capital firm, also launched the UK Tech Growth Programme. This new collaboration is designed to match UK startups to receive potential investment from Kickstart Ventures through The Ayala Corporation Technology Innovation Venture Fund (ACTIVE Fund), the largest venture capital fund to come out of the Philippines.

    Kickstart Ventures Managing Partner and Co-Founder Minette Navarrete said:

    We recognise the vital role of forging partnerships beyond borders in fuelling innovation that benefits all– a commitment we take to heart at Kickstart. Our collaboration with the British Embassy is integral to this commitment, allowing us to lead transformative investments with UK startups and bring in tech-driven solutions that ensure mutual growth.

    Ambassador Beaufils added:

    Technology is not just about infrastructure—it’s about partnerships, trust, and shared progress. The UK is working hand in hand with the Philippines on this, supporting it to expand its tech ecosystem.

    UK-Southeast Asia Tech Week 2025 reaffirms the UK’s commitment to driving innovation, strengthening partnerships, and shaping a resilient and inclusive tech ecosystem across the region.

    The delegation includes British Companies Content Guru, CyberQ Group, Encompass, Intelligent AI Solutions, Kraken IM, Newcastle University, Open Data Institute, Smart Pension, Summatic, Sumsub, Synectics and Veracity Trust Network APAC.

    Updates to this page

    Published 26 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: UK, Philippines hold 5th Climate Change and Environment Dialogue

    Source: United Kingdom – Government Statements

    World news story

    UK, Philippines hold 5th Climate Change and Environment Dialogue

    Bilateral cooperation on climate and environment is being strengthened through discussions on science, innovation, localisation, resilience, and finance.

    His Majesty’s Ambassador to the Philippines, Laure Beaufils, and Environment Secretary and Official Representative of the President to the Climate Change Commission, Maria Antonia Yulo Loyzaga recently led the 5th UK-PH Climate Change and Environment (CCE) Dialogue to set the direction for the year, building on the successes of 2024.

    These saw UK support for the operationalisation of the Philippines’ National Adaptation Plan, mobilisation of institutional capital into renewable energy in the country through the Philippines Stock Exchange, funding to civil society across projects on biodiversity and coastal livelihoods and launching of key multi-stakeholder platforms tacking plastic pollution and blue carbon.

    Both countries agreed to establish a UK-led development partners coordination group for the localisation of climate analytics in provinces identified with high exposure to climate risks in the National Adaptation Plan, and the government’s Risk Resiliency Programme. Using the findings from pilot site of Negros Occidental, an investment platform will be developed to mobilise private capital for adaptation and resilience with a focus on climate-smart agriculture, innovative water management solutions and agroforestry projects.

    The Dialogue also agreed to ramp up support for the blue economy through the UK’s Blue Planet Fund. The new COAST (Climate and Ocean Adaptation and Sustainable Transition) programme will be rolled out in the Philippines this year, which seeks to deliver interventions that will strengthen marine protected areas, operationalise sustainable fisheries management, and promote blue carbon initiatives.

    Representatives reached an agreement to form a UK-DENR partnership mechanism to promote biodiversity and nature grants to local governments and communities that would not only support biodiversity conservation but also build resilience and provide long-term economic benefits for resource-dependent communities.

    Representatives also agreed to ramp up collaboration on climate and nature finance. Discussions covered expanding access to sustainable financing, catalysing private capital for climate change adaptation, and aligning financial strategies with climate risk assessments to develop more investment-ready portfolio for large-scale, long-term sustainability efforts.

    Ambassador Beaufils said:

    I am very proud of the progress we have made together. But we won’t rest on our laurels. We are ambitious for the future, and we will continue to deliver tangible results across adaptation, climate finance, science and research, and investments into renewable energy.

    Meanwhile, Secretary Loyzaga highlighted:

    Our Enhanced Partnership with the UK is a testament to our commitment as like-minded countries and large ocean nations to a future that is secured under a rules-based international order. The bi-annual reviews of our climate change joint work plan will allow us to align, calibrate, and adapt when we respond to geo strategic uncertainties that we actually face.

    The dialogue concluded with both countries signing a renewed partnership statement on climate and nature. The UK remains committed to supporting these efforts through expertise, financing, and advocacy for climate-vulnerable nations.

    The Dialogue was attended by high-level representatives from key agencies, including the DENR, Climate Change Commission, Department of Agriculture, Department of Finance, Department of Science and Technology, Department of Energy, Bangko Sentral ng Pilipinas, National Economic and Development Authority, the Public-Private Partnership Center and the Department of Trade and Industry.

    Updates to this page

    Published 26 March 2025

    MIL OSI United Kingdom –