Source: European Parliament
At its constitutive meeting on 3 October 2024, the Delegation for relations with the countries of the Andean Community (DAND) elected the following bureau member:
Chair: Robert BIEDRON (S&D, Poland)
1st Vice-Chair: tbc in the next meeting
2nd Vice-Chair: tbc in the next meeting
Source: GlobeNewswire (MIL-OSI)
SANTA CLARA, Calif., Feb. 04, 2025 (GLOBE NEWSWIRE) — AMD (NASDAQ:AMD) today announced financial results for the fourth quarter and full year of 2024. Fourth quarter revenue was a record $7.7 billion, gross margin was 51%, operating income was $871 million, net income was $482 million and diluted earnings per share was $0.29. On a non-GAAP(*) basis, gross margin was 54%, operating income was a record $2.0 billion, net income was a record $1.8 billion and diluted earnings per share was $1.09.
For the full year 2024, AMD reported record revenue of $25.8 billion, gross margin of 49%, operating income of $1.9 billion, net income of $1.6 billion, and diluted earnings per share of $1.00. On a non-GAAP(*) basis, gross margin was a record 53%, operating income was $6.1 billion, net income was $5.4 billion and diluted earnings per share was $3.31.
“2024 was a transformative year for AMD as we delivered record annual revenue and strong earnings growth,” said AMD Chair and CEO Dr. Lisa Su. “Data Center segment annual revenue nearly doubled as EPYC processor adoption accelerated and we delivered more than $5 billion of AMD Instinct accelerator revenue. Looking into 2025, we see clear opportunities for continued growth based on the strength of our product portfolio and growing demand for high-performance and adaptive computing.”
“We closed 2024 with a strong fourth quarter, delivering record revenue up 24% year-over-year, and accelerated earnings expansion while investing aggressively in AI and innovation to position us for long-term growth and value creation,” said AMD EVP, CFO and Treasurer Jean Hu.
GAAP Quarterly Financial Results
| Q4 2024 | Q4 2023 | Y/Y | Q3 2024 | Q/Q | |
| Revenue ($M) | $7,658 | $6,168 | Up 24% | $6,819 | Up 12% |
| Gross profit ($M) | $3,882 | $2,911 | Up 33% | $3,419 | Up 14% |
| Gross margin | 51% | 47% | Up 4 ppts | 50% | Up 1% |
| Operating expenses ($M) | $3,022 | $2,575 | Up 17% | $2,709 | Up 12% |
| Operating income ($M) | $871 | $342 | Up 155% | $724 | Up 20% |
| Operating margin | 11% | 6% | Up 5 ppts | 11% | Flat |
| Net income ($M) | $482 | $667 | Down 28% | $771 | Down 37% |
| Diluted earnings per share | $0.29 | $0.41 | Down 29% | $0.47 | Down 38% |
Non-GAAP(*) Quarterly Financial Results
| Q4 2024 | Q4 2023 | Y/Y | Q3 2024 | Q/Q | |
| Revenue ($M) | $7,658 | $6,168 | Up 24% | $6,819 | Up 12% |
| Gross profit ($M) | $4,140 | $3,133 | Up 32% | $3,657 | Up 13% |
| Gross margin | 54% | 51% | Up 3 ppts | 54% | Flat |
| Operating expenses ($M) | $2,125 | $1,727 | Up 23% | $1,956 | Up 9% |
| Operating income ($M) | $2,026 | $1,412 | Up 43% | $1,715 | Up 18% |
| Operating margin | 26% | 23% | Up 3 ppts | 25% | Up 1 ppt |
| Net income ($M) | $1,777 | $1,249 | Up 42% | $1,504 | Up 18% |
| Diluted earnings per share | $1.09 | $0.77 | Up 42% | $0.92 | Up 18% |
Annual Financial Results
| GAAP | Non-GAAP(*) | |||||
| 2024 | 2023 | Y/Y | 2024 | 2023 | Y/Y | |
| Revenue ($M) | $25,785 | $22,680 | Up 14% | $25,785 | $22,680 | Up 14% |
| Gross profit ($M) | $12,725 | $10,460 | Up 22% | $13,759 | $11,436 | Up 20% |
| Gross margin % | 49% | 46% | Up 3 ppts | 53% | 50% | Up 3 ppts |
| Operating expenses ($M) | $10,873 | $10,093 | Up 8% | $7,669 | $6,616 | Up 16% |
| Operating income ($M) | $1,900 | $401 | Up 374% | $6,138 | $4,854 | Up 26% |
| Operating margin % | 7% | 2% | Up 5 ppts | 24% | 21% | Up 3 ppts |
| Net income ($M) | $1,641 | $854 | Up 92% | $5,420 | $4,302 | Up 26% |
| Diluted earnings per share | $1.00 | $0.53 | Up 89% | $3.31 | $2.65 | Up 25% |
Segment Summary
Recent PR Highlights
Current Outlook
AMD’s outlook statements are based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under “Cautionary Statement” below.
For the first quarter of 2025, AMD expects revenue to be approximately $7.1 billion, plus or minus $300 million. At the mid-point of the revenue range, this represents year-over-year growth of approximately 30% and a sequential decline of approximately 7%. Non-GAAP gross margin is expected to be approximately 54%.
AMD Teleconference
AMD will hold a conference call at 2:00 p.m. PT (5:00 p.m. ET) today to discuss its fourth quarter and full year 2024 financial results. AMD will provide a real-time audio broadcast of the teleconference on the Investor Relations page of its website at www.amd.com.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(in millions, except per share data) (Unaudited)
| Three Months Ended | Year Ended | ||||||||||||||||||
| December 28, 2024 |
September 28, 2024 |
December 30, 2023 |
December 28, 2024 |
December 30, 2023 |
|||||||||||||||
| GAAP gross profit | $ | 3,882 | $ | 3,419 | $ | 2,911 | $ | 12,725 | $ | 10,460 | |||||||||
| GAAP gross margin | 51 | % | 50 | % | 47 | % | 49 | % | 46 | % | |||||||||
| Stock-based compensation | 6 | 5 | 6 | 22 | 30 | ||||||||||||||
| Amortization of acquisition-related intangibles | 252 | 233 | 215 | 946 | 942 | ||||||||||||||
| Acquisition-related and other costs (1) | — | — | 1 | 1 | 4 | ||||||||||||||
| Inventory loss at contract manufacturer (2) | — | — | — | 65 | — | ||||||||||||||
| Non-GAAP gross profit | $ | 4,140 | $ | 3,657 | $ | 3,133 | $ | 13,759 | $ | 11,436 | |||||||||
| Non-GAAP gross margin | 54 | % | 54 | % | 51 | % | 53 | % | 50 | % | |||||||||
| GAAP operating expenses | $ | 3,022 | $ | 2,709 | $ | 2,575 | $ | 10,873 | $ | 10,093 | |||||||||
| GAAP operating expenses/revenue % | 39 | % | 40 | % | 42 | % | 42 | % | 45 | % | |||||||||
| Stock-based compensation | 333 | 346 | 368 | 1,385 | 1,350 | ||||||||||||||
| Amortization of acquisition-related intangibles | 332 | 352 | 420 | 1,448 | 1,869 | ||||||||||||||
| Acquisition-related and other costs (1) | 46 | 55 | 60 | 185 | 258 | ||||||||||||||
| Restructuring charges (3) | 186 | — | — | 186 | — | ||||||||||||||
| Non-GAAP operating expenses | $ | 2,125 | $ | 1,956 | $ | 1,727 | $ | 7,669 | $ | 6,616 | |||||||||
| Non-GAAP operating expenses/revenue % | 28 | % | 29 | % | 28 | % | 30 | % | 29 | % | |||||||||
| GAAP operating income | $ | 871 | $ | 724 | $ | 342 | $ | 1,900 | $ | 401 | |||||||||
| GAAP operating margin | 11 | % | 11 | % | 6 | % | 7 | % | 2 | % | |||||||||
| Stock-based compensation | 339 | 351 | 374 | 1,407 | 1,380 | ||||||||||||||
| Amortization of acquisition-related intangibles | 584 | 585 | 635 | 2,394 | 2,811 | ||||||||||||||
| Acquisition-related and other costs (1) | 46 | 55 | 61 | 186 | 262 | ||||||||||||||
| Inventory loss at contract manufacturer (2) | — | — | — | 65 | — | ||||||||||||||
| Restructuring charges (3) | 186 | — | — | 186 | — | ||||||||||||||
| Non-GAAP operating income | $ | 2,026 | $ | 1,715 | $ | 1,412 | $ | 6,138 | $ | 4,854 | |||||||||
| Non-GAAP operating margin | 26 | % | 25 | % | 23 | % | 24 | % | 21 | % | |||||||||
| Three Months Ended |
Year Ended | ||||||||||||||||||||||||||||||||||||||
| December 28, 2024 |
September 28, 2024 |
December 30, 2023 |
December 28, 2024 |
December 30, 2023 |
|||||||||||||||||||||||||||||||||||
| GAAP net income / earnings per share | $ | 482 | $ | 0.29 | $ | 771 | $ | 0.47 | $ | 667 | $ | 0.41 | $ | 1,641 | $ | 1.00 | $ | 854 | $ | 0.53 | |||||||||||||||||||
| (Gains) losses on equity investments, net | — | — | (1 | ) | — | 1 | — | 2 | — | (1 | ) | — | |||||||||||||||||||||||||||
| Stock-based compensation | 339 | 0.21 | 351 | 0.21 | 374 | 0.23 | 1,407 | 0.86 | 1,380 | 0.85 | |||||||||||||||||||||||||||||
| Equity income in investee | (12 | ) | (0.01 | ) | (7 | ) | — | (6 | ) | — | (33 | ) | (0.02 | ) | (16 | ) | (0.01 | ) | |||||||||||||||||||||
| Amortization of acquisition-related intangibles | 584 | 0.36 | 585 | 0.36 | 635 | 0.39 | 2,394 | 1.46 | 2,811 | 1.73 | |||||||||||||||||||||||||||||
| Acquisition-related and other costs (1) | 46 | 0.03 | 56 | 0.03 | 61 | 0.04 | 187 | 0.11 | 262 | 0.16 | |||||||||||||||||||||||||||||
| Inventory loss at contract manufacturer (2) | — | — | — | — | — | — | 65 | 0.04 | — | — | |||||||||||||||||||||||||||||
| Restructuring charges (3) | 186 | 0.11 | — | — | — | — | 186 | 0.11 | — | — | |||||||||||||||||||||||||||||
| Income tax provision | 152 | 0.10 | (251 | ) | (0.15 | ) | (483 | ) | (0.30 | ) | (429 | ) | (0.25 | ) | (988 | ) | (0.61 | ) | |||||||||||||||||||||
| Non-GAAP net income / earnings per share | $ | 1,777 | $ | 1.09 | $ | 1,504 | $ | 0.92 | $ | 1,249 | $ | 0.77 | $ | 5,420 | $ | 3.31 | $ | 4,302 | $ | 2.65 | |||||||||||||||||||
| (1 | ) | Acquisition-related and other costs primarily include transaction costs, purchase price fair value adjustments for inventory, certain compensation charges, contract termination costs and workforce rebalancing charges. | |
| (2 | ) | Inventory loss at contract manufacturer is related to an incident at a third-party contract manufacturing facility. | |
| (3 | ) | Restructuring charges are related to the 2024 Restructuring Plan which comprised of employee severance charges and non-cash asset impairments. | |
About AMD
For more than 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, LinkedIn and X pages.
Cautionary Statement
This press release contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) such as, the opportunities for continued growth based on AMD’s product portfolio and growing demand for high-performance and adaptive computing; AMD’s ability to position itself for long-term growth and value creation; the features, functionality, performance, availability, timing and expected benefits of future AMD products; and AMD’s expected first quarter 2025 financial outlook, including revenue and non-GAAP gross margin, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as “would,” “may,” “expects,” “believes,” “plans,” “intends,” “projects” and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this press release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and generally beyond AMD’s control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: Intel Corporation’s dominance of the microprocessor market and its aggressive business practices; Nvidia’s dominance in the graphics processing unit market and its aggressive business practices; competitive markets in which AMD’s products are sold; the cyclical nature of the semiconductor industry; market conditions of the industries in which AMD products are sold; AMD’s ability to introduce products on a timely basis with expected features and performance levels; loss of a significant customer; economic and market uncertainty; quarterly and seasonal sales patterns; AMD’s ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD’s products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD’s products; AMD’s ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyberattacks; uncertainties involving the ordering and shipment of AMD’s products; AMD’s reliance on third-party intellectual property to design and introduce new products; AMD’s reliance on third-party companies for design, manufacture and supply of motherboards, software, memory and other computer platform components; AMD’s reliance on Microsoft and other software vendors’ support to design and develop software to run on AMD’s products; AMD’s reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD’s internal business processes and information systems; compatibility of AMD’s products with some or all industry-standard software and hardware; costs related to defective products; efficiency of AMD’s supply chain; AMD’s ability to rely on third party supply-chain logistics functions; AMD’s ability to effectively control sales of its products on the gray market; long-term impact of climate change on AMD’s business; impact of government actions and regulations such as export regulations, tariffs and trade protection measures; AMD’s ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals related provisions and other laws or regulations; evolving expectations from governments, investors, customers and other stakeholders regarding corporate responsibility matters; issues related to the responsible use of AI; restrictions imposed by agreements governing AMD’s notes, the guarantees of Xilinx’s notes and the revolving credit agreement; impact of acquisitions, joint ventures and/or strategic investments on AMD’s business and AMD’s ability to integrate acquired businesses; our ability to complete the acquisition of ZT Systems; impact of any impairment of the combined company’s assets; political, legal and economic risks and natural disasters; future impairments of technology license purchases; AMD’s ability to attract and retain qualified personnel; and AMD’s stock price volatility. Investors are urged to review in detail the risks and uncertainties in AMD’s Securities and Exchange Commission filings, including but not limited to AMD’s most recent reports on Forms 10-K and 10-Q.
| (*) | In this earnings press release, in addition to GAAP financial results, AMD has provided non-GAAP financial measures including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating expenses/revenue%, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income and non-GAAP diluted earnings per share. AMD uses a normalized tax rate in its computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. For fiscal 2024, AMD used a non-GAAP tax rate of 13%, which excludes the tax impact of pre-tax non-GAAP adjustments. AMD also provided adjusted EBITDA, free cash flow and free cash flow margin as supplemental non-GAAP measures of its performance. These items are defined in the footnotes to the selected corporate data tables provided at the end of this earnings press release. AMD is providing these financial measures because it believes this non-GAAP presentation makes it easier for investors to compare its operating results for current and historical periods and also because AMD believes it assists investors in comparing AMD’s performance across reporting periods on a consistent basis by excluding items that it does not believe are indicative of its core operating performance and for the other reasons described in the footnotes to the selected data tables. The non-GAAP financial measures disclosed in this earnings press release should be viewed in addition to and not as a substitute for or superior to AMD’s reported results prepared in accordance with GAAP and should be read only in conjunction with AMD’s Consolidated Financial Statements prepared in accordance with GAAP. These non-GAAP financial measures referenced are reconciled to their most directly comparable GAAP financial measures in the data tables in this earnings press release. This earnings press release also contains forward-looking non-GAAP gross margin concerning AMD’s financial outlook, which is based on current expectations as of February 4, 2025, and assumptions and beliefs that involve numerous risks and uncertainties. Adjustments to arrive at the GAAP gross margin outlook typically include stock-based compensation, amortization of acquired intangible assets and acquisition-related and other costs. The timing and impact of such adjustments are dependent on future events that are typically uncertain or outside of AMD’s control, therefore, a reconciliation to equivalent GAAP measures is not practicable at this time. AMD undertakes no intent or obligation to publicly update or revise its outlook statements as a result of new information, future events or otherwise, except as may be required by law.
© 2025 Advanced Micro Devices, Inc. All rights reserved. AMD, the AMD Arrow logo, 3D V-Cache, Alveo, AMD Instinct, EPYC, FidelityFX, Kria, Radeon, Ryzen, Threadripper, Ultrascale+, Versal, Zynq, and combinations thereof, are trademarks of Advanced Micro Devices, Inc. |
ADVANCED MICRO DEVICES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Millions except per share amounts and percentages) (Unaudited)
| Three Months Ended | Year Ended | ||||||||||||||||||
| December 28, 2024 |
September 28, 2024 |
December 30, 2023 |
December 28, 2024 |
December 30, 2023 |
|||||||||||||||
| Net revenue | $ | 7,658 | $ | 6,819 | $ | 6,168 | $ | 25,785 | $ | 22,680 | |||||||||
| Cost of sales | 3,524 | 3,167 | 3,042 | 12,114 | 11,278 | ||||||||||||||
| Amortization of acquisition-related intangibles | 252 | 233 | 215 | 946 | 942 | ||||||||||||||
| Total cost of sales | 3,776 | 3,400 | 3,257 | 13,060 | 12,220 | ||||||||||||||
| Gross profit | 3,882 | 3,419 | 2,911 | 12,725 | 10,460 | ||||||||||||||
| Gross margin | 51 | % | 50 | % | 47 | % | 49 | % | 46 | % | |||||||||
| Research and development | 1,712 | 1,636 | 1,511 | 6,456 | 5,872 | ||||||||||||||
| Marketing, general and administrative | 792 | 721 | 644 | 2,783 | 2,352 | ||||||||||||||
| Amortization of acquisition-related intangibles | 332 | 352 | 420 | 1,448 | 1,869 | ||||||||||||||
| Licensing gain | (11 | ) | (14 | ) | (6 | ) | (48 | ) | (34 | ) | |||||||||
| Restructuring charges | 186 | — | — | 186 | — | ||||||||||||||
| Operating income | 871 | 724 | 342 | 1,900 | 401 | ||||||||||||||
| Interest expense | (19 | ) | (23 | ) | (27 | ) | (92 | ) | (106 | ) | |||||||||
| Other income (expense), net | 37 | 36 | 49 | 181 | 197 | ||||||||||||||
| Income before income taxes and equity income | 889 | 737 | 364 | 1,989 | 492 | ||||||||||||||
| Income tax provision (benefit) | 419 | (27 | ) | (297 | ) | 381 | (346 | ) | |||||||||||
| Equity income in investee | 12 | 7 | 6 | 33 | 16 | ||||||||||||||
| Net income | $ | 482 | $ | 771 | $ | 667 | $ | 1,641 | $ | 854 | |||||||||
| Earnings per share | |||||||||||||||||||
| Basic | $ | 0.30 | $ | 0.48 | $ | 0.41 | $ | 1.01 | $ | 0.53 | |||||||||
| Diluted | $ | 0.29 | $ | 0.47 | $ | 0.41 | $ | 1.00 | $ | 0.53 | |||||||||
| Shares used in per share calculation | |||||||||||||||||||
| Basic | 1,623 | 1,620 | 1,616 | 1,620 | 1,614 | ||||||||||||||
| Diluted | 1,634 | 1,636 | 1,628 | 1,637 | 1,625 | ||||||||||||||
ADVANCED MICRO DEVICES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Millions)
| December 28, 2024 |
December 30, 2023 |
||||||
| (Unaudited) | |||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 3,787 | $ | 3,933 | |||
| Short-term investments | 1,345 | 1,840 | |||||
| Accounts receivable, net | 6,192 | 4,323 | |||||
| Inventories | 5,734 | 4,351 | |||||
| Receivables from related parties | 113 | 9 | |||||
| Prepaid expenses and other current assets | 1,878 | 2,312 | |||||
| Total current assets | 19,049 | 16,768 | |||||
| Property and equipment, net | 1,802 | 1,589 | |||||
| Operating lease right-of-use assets | 623 | 633 | |||||
| Goodwill | 24,839 | 24,262 | |||||
| Acquisition-related intangibles, net | 18,930 | 21,363 | |||||
| Investment: equity method | 149 | 99 | |||||
| Deferred tax assets | 688 | 366 | |||||
| Other non-current assets | 3,146 | 2,805 | |||||
| Total Assets | $ | 69,226 | $ | 67,885 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 1,990 | $ | 2,055 | |||
| Payables to related parties | 476 | 363 | |||||
| Accrued liabilities | 4,260 | 3,082 | |||||
| Current portion of long-term debt, net | — | 751 | |||||
| Other current liabilities | 555 | 438 | |||||
| Total current liabilities | 7,281 | 6,689 | |||||
| Long-term debt, net of current portion | 1,721 | 1,717 | |||||
| Long-term operating lease liabilities | 491 | 535 | |||||
| Deferred tax liabilities | 349 | 1,202 | |||||
| Other long-term liabilities | 1,816 | 1,850 | |||||
| Stockholders’ equity: | |||||||
| Capital stock: | |||||||
| Common stock, par value | 17 | 17 | |||||
| Additional paid-in capital | 61,362 | 59,676 | |||||
| Treasury stock, at cost | (6,106 | ) | (4,514 | ) | |||
| Retained earnings | 2,364 | 723 | |||||
| Accumulated other comprehensive loss | (69 | ) | (10 | ) | |||
| Total stockholders’ equity | 57,568 | 55,892 | |||||
| Total Liabilities and Stockholders’ Equity | $ | 69,226 | $ | 67,885 | |||
ADVANCED MICRO DEVICES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Millions) (Unaudited)
| Three Months Ended | Year Ended | ||||||||||||||
| December 28, 2024 |
December 30, 2023 |
December 28, 2024 |
December 30, 2023 |
||||||||||||
| Cash flows from operating activities: | |||||||||||||||
| Net income | $ | 482 | $ | 667 | $ | 1,641 | $ | 854 | |||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||
| Depreciation and amortization | 172 | 164 | 671 | 642 | |||||||||||
| Amortization of acquisition-related intangibles | 583 | 635 | 2,393 | 2,811 | |||||||||||
| Stock-based compensation | 339 | 374 | 1,407 | 1,384 | |||||||||||
| Amortization of operating lease right-of-use assets | 31 | 25 | 113 | 98 | |||||||||||
| Deferred income taxes | (300 | ) | (219 | ) | (1,163 | ) | (1,019 | ) | |||||||
| Inventory loss at contract manufacturer | — | — | 65 | — | |||||||||||
| Other | 62 | (23 | ) | 12 | (54 | ) | |||||||||
| Changes in operating assets and liabilities | |||||||||||||||
| Accounts receivable, net | 96 | (379 | ) | (1,865 | ) | (1,339 | ) | ||||||||
| Inventories | (362 | ) | 94 | (1,458 | ) | (580 | ) | ||||||||
| Prepaid expenses and other assets | 494 | (34 | ) | 343 | (383 | ) | |||||||||
| Receivables from and payables to related parties, net | 30 | 29 | 108 | (107 | ) | ||||||||||
| Accounts payable | (585 | ) | (181 | ) | (109 | ) | (419 | ) | |||||||
| Accrued and other liabilities | 257 | (771 | ) | 883 | (221 | ) | |||||||||
| Net cash provided by operating activities | 1,299 | 381 | 3,041 | 1,667 | |||||||||||
| Cash flows from investing activities: | |||||||||||||||
| Purchases of property and equipment | (208 | ) | (139 | ) | (636 | ) | (546 | ) | |||||||
| Purchases of short-term investments | (786 | ) | (410 | ) | (1,493 | ) | (3,722 | ) | |||||||
| Proceeds from maturity of short-term investments | 65 | 770 | 1,416 | 2,687 | |||||||||||
| Proceeds from sale of short-term investments | 25 | 52 | 616 | 300 | |||||||||||
| Acquisitions, net of cash acquired | — | (117 | ) | (548 | ) | (131 | ) | ||||||||
| Related party equity method investment | — | — | (17 | ) | — | ||||||||||
| Issuance of loan to related party | (100 | ) | — | (100 | ) | — | |||||||||
| Purchase of strategic investments | (210 | ) | (6 | ) | (341 | ) | (11 | ) | |||||||
| Other | — | — | 2 | — | |||||||||||
| Net cash provided by (used in) investing activities | (1,214 | ) | 150 | (1,101 | ) | (1,423 | ) | ||||||||
| Cash flows from financing activities: | |||||||||||||||
| Repayment of debt | — | — | (750 | ) | — | ||||||||||
| Proceeds from sales of common stock through employee equity plans | 127 | 120 | 279 | 268 | |||||||||||
| Repurchases of common stock | (256 | ) | (233 | ) | (862 | ) | (985 | ) | |||||||
| Common stock repurchases for tax withholding on employee equity plans | (42 | ) | (45 | ) | (728 | ) | (427 | ) | |||||||
| Other | — | (1 | ) | (1 | ) | (2 | ) | ||||||||
| Net cash used in financing activities | (171 | ) | (159 | ) | (2,062 | ) | (1,146 | ) | |||||||
| Net increase (decrease) in cash, cash equivalents and restricted cash | (86 | ) | 372 | (122 | ) | (902 | ) | ||||||||
| Cash, cash equivalents and restricted cash at beginning of period | 3,897 | 3,561 | 3,933 | 4,835 | |||||||||||
| Cash, cash equivalents and restricted cash at end of period | $ | 3,811 | $ | 3,933 | $ | 3,811 | $ | 3,933 | |||||||
ADVANCED MICRO DEVICES, INC.
SELECTED CORPORATE DATA
(Millions) (Unaudited)
| Three Months Ended | Year Ended | ||||||||||||||||||
| December 28, 2024 |
September 28, 2024 |
December 30, 2023 |
December 28, 2024 |
December 30, 2023 |
|||||||||||||||
| Segment and Category Information(1) | |||||||||||||||||||
| Data Center | |||||||||||||||||||
| Net revenue | $ | 3,859 | $ | 3,549 | $ | 2,282 | $ | 12,579 | $ | 6,496 | |||||||||
| Operating income | $ | 1,157 | $ | 1,041 | $ | 666 | $ | 3,482 | $ | 1,267 | |||||||||
| Client | |||||||||||||||||||
| Net revenue | $ | 2,313 | $ | 1,881 | $ | 1,461 | $ | 7,054 | $ | 4,651 | |||||||||
| Operating income (loss) | $ | 446 | $ | 276 | $ | 55 | $ | 897 | $ | (46 | ) | ||||||||
| Gaming | |||||||||||||||||||
| Net revenue | $ | 563 | $ | 462 | $ | 1,368 | $ | 2,595 | $ | 6,212 | |||||||||
| Operating income | $ | 50 | $ | 12 | $ | 224 | $ | 290 | $ | 971 | |||||||||
| Embedded | |||||||||||||||||||
| Net revenue | $ | 923 | $ | 927 | $ | 1,057 | $ | 3,557 | $ | 5,321 | |||||||||
| Operating income | $ | 362 | $ | 372 | $ | 461 | $ | 1,421 | $ | 2,628 | |||||||||
| All Other | |||||||||||||||||||
| Net revenue | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||
| Operating loss | $ | (1,144 | ) | $ | (977 | ) | $ | (1,064 | ) | $ | (4,190 | ) | $ | (4,419 | ) | ||||
| Total | |||||||||||||||||||
| Net revenue | $ | 7,658 | $ | 6,819 | $ | 6,168 | $ | 25,785 | $ | 22,680 | |||||||||
| Operating income | $ | 871 | $ | 724 | $ | 342 | $ | 1,900 | $ | 401 | |||||||||
| Other Data | |||||||||||||||||||
| Capital expenditures | $ | 208 | $ | 132 | $ | 139 | $ | 636 | $ | 546 | |||||||||
| Adjusted EBITDA (2) | $ | 2,212 | $ | 1,887 | $ | 1,576 | $ | 6,824 | $ | 5,496 | |||||||||
| Cash, cash equivalents and short-term investments | $ | 5,132 | $ | 4,544 | $ | 5,773 | $ | 5,132 | $ | 5,773 | |||||||||
| Free cash flow (3) | $ | 1,091 | $ | 496 | $ | 242 | $ | 2,405 | $ | 1,121 | |||||||||
| Total assets | $ | 69,226 | $ | 69,636 | $ | 67,885 | $ | 69,226 | $ | 67,885 | |||||||||
| Total debt | $ | 1,721 | $ | 1,720 | $ | 2,468 | $ | 1,721 | $ | 2,468 | |||||||||
| (1 | ) | The Data Center segment primarily includes Artificial Intelligence (AI) accelerators, server microprocessors (CPUs), graphics processing units (GPUs), accelerated processing units (APUs), data processing units (DPUs), Field Programmable Gate Arrays (FPGAs), Smart Network Interface Cards (SmartNICs) and Adaptive System-on-Chip (SoC) products for data centers. | |
| The Client segment primarily includes CPUs, APUs, and chipsets for desktops and notebooks. | |||
| The Gaming segment primarily includes discrete GPUs, and semi-custom SoC products and development services. | |||
| The Embedded segment primarily includes embedded CPUs, GPUs, APUs, FPGAs, System on Modules (SOMs), and Adaptive SoC products. | |||
| From time to time, the Company may also sell or license portions of its IP portfolio. | |||
| All Other category primarily includes certain expenses and credits that are not allocated to any of the operating segments, such as amortization of acquisition-related intangible asset, employee stock-based compensation expense, acquisition-related and other costs, inventory loss at contract manufacturer, restructuring charges and licensing gain. | |||
| (2 | ) | Reconciliation of GAAP Net Income to Adjusted EBITDA | |
| Three Months Ended | Year Ended | ||||||||||||||||||
| (Millions) (Unaudited) | December 28, 2024 |
September 28, 2024 |
December 30, 2023 |
December 28, 2024 |
December 30, 2023 |
||||||||||||||
| GAAP net income | $ | 482 | $ | 771 | $ | 667 | $ | 1,641 | $ | 854 | |||||||||
| Interest expense | 19 | 23 | 27 | 92 | 106 | ||||||||||||||
| Other (income) expense, net | (37 | ) | (36 | ) | (49 | ) | (181 | ) | (197 | ) | |||||||||
| Income tax provision (benefit) | 419 | (27 | ) | (297 | ) | 381 | (346 | ) | |||||||||||
| Equity income in investee | (12 | ) | (7 | ) | (6 | ) | (33 | ) | (16 | ) | |||||||||
| Stock-based compensation | 339 | 351 | 374 | 1,407 | 1,380 | ||||||||||||||
| Depreciation and amortization | 186 | 171 | 164 | 685 | 642 | ||||||||||||||
| Amortization of acquisition-related intangibles | 584 | 585 | 635 | 2,394 | 2,811 | ||||||||||||||
| Inventory loss at contract manufacturer | — | — | — | 65 | — | ||||||||||||||
| Acquisition-related and other costs | 46 | 56 | 61 | 187 | 262 | ||||||||||||||
| Restructuring charges | 186 | — | — | 186 | — | ||||||||||||||
| Adjusted EBITDA | $ | 2,212 | $ | 1,887 | $ | 1,576 | $ | 6,824 | $ | 5,496 | |||||||||
| The Company presents “Adjusted EBITDA” as a supplemental measure of its performance. Adjusted EBITDA for the Company is determined by adjusting GAAP net income for interest expense, other (income) expense, net, income tax provision (benefit), equity income in investee, stock-based compensation, depreciation and amortization expense, amortization of acquisition-related intangibles, inventory loss at contract manufacturer, acquisition-related and other costs, and restructuring charges. The Company calculates and presents Adjusted EBITDA because management believes it is of importance to investors and lenders in relation to its overall capital structure and its ability to borrow additional funds. In addition, the Company presents Adjusted EBITDA because it believes this measure assists investors in comparing its performance across reporting periods on a consistent basis by excluding items that the Company does not believe are indicative of its core operating performance. The Company’s calculation of Adjusted EBITDA may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view Adjusted EBITDA as an alternative to the GAAP operating measure of income or GAAP liquidity measures of cash flows from operating, investing and financing activities. In addition, Adjusted EBITDA does not take into account changes in certain assets and liabilities that can affect cash flows. |
| (3 | ) | Reconciliation of GAAP Net Cash Provided by Operating Activities to Free Cash Flow |
| Three Months Ended | Year Ended | ||||||||||||||||||
| (Millions except percentages) (Unaudited) | December 28, 2024 |
September 28, 2024 |
December 30, 2023 |
December 28, 2024 |
December 30, 2023 |
||||||||||||||
| GAAP net cash provided by operating activities | $ | 1,299 | $ | 628 | $ | 381 | $ | 3,041 | $ | 1,667 | |||||||||
| Operating cash flow margin % | 17 | % | 9 | % | 6 | % | 12 | % | 7 | % | |||||||||
| Purchases of property and equipment | (208 | ) | (132 | ) | (139 | ) | (636 | ) | (546 | ) | |||||||||
| Free cash flow | $ | 1,091 | $ | 496 | $ | 242 | $ | 2,405 | $ | 1,121 | |||||||||
| Free cash flow margin % | 14 | % | 7 | % | 4 | % | 9 | % | 5 | % | |||||||||
| The Company also presents free cash flow as a supplemental Non-GAAP measure of its performance. Free cash flow is determined by adjusting GAAP net cash provided by operating activities for capital expenditures, and free cash flow margin % is free cash flow expressed as a percentage of the Company’s net revenue. The Company calculates and communicates free cash flow in the financial earnings press release because management believes it is of importance to investors to understand the nature of these cash flows. The Company’s calculation of free cash flow may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view free cash flow as an alternative to GAAP liquidity measures of cash flows from operating activities. |
Media Contact:
Drew Prairie
AMD Communications
512-602-4425
drew.prairie@amd.com
Investor Contact:
Matt Ramsay
AMD Investor Relations
512-602-0113
matthew.ramsay@amd.com
Source: European Parliament
The 2024 edition of the European Parliament’s Academic Freedom Monitor consists of two studies, to be published shortly, with joint key findings and policy options that are summarised in this briefing. The first study, ‘Analysis of the state of de facto academic freedom in the EU’, examines various measurements of academic freedom across the EU Member States. It also analyses the main threats to academic freedom and their impacts in 10 Member States through a qualitative data analysis, with input from stakeholder organisations and academic experts. The second study, ‘Overview of de jure academic freedom protection’, gives an overview of constitutional provisions on academic freedom protection in all Member States. It also offers an in-depth analysis of constitutional protection of academic freedom in four Member States and examines the EU’s scope of action on academic freedom.
Source: European Parliament
18 February 2025:
The next meeting of the Committee on Security and Defence (SEDE) is scheduled to take place on Tuesday, 18 February 2025 from 9:00 – 13:00 and 14.15-18.15 in Brussels (SPINELLI 3G2).
Further information about the meeting can be found here.
_______________________
SEDE missions 2024:
Source: GlobeNewswire (MIL-OSI)
MILWAUKEE, Feb. 04, 2025 (GLOBE NEWSWIRE) — Artisan Partners Asset Management Inc. (NYSE: APAM) (the “Company” or “Artisan Partners”) today reported its results for the quarter and year ended December 31, 2024, and declared a quarterly and special annual dividend. The full earnings release and investor presentation can be viewed at www.apam.com.
Conference Call
The Company will host a conference call on February 5, 2025 at 1:00 p.m. (Eastern Time) to discuss these results. Hosting the call will be Eric Colson, Chief Executive Officer, Jason Gottlieb, President, and C.J. Daley, Chief Financial Officer. Supplemental materials that will be reviewed during the call are available on the Company’s website at www.apam.com. The call will be webcast and can be accessed via the Company’s website. Listeners may also access the call by dialing 877.328.5507 or 412.317.5423 for international callers; the conference ID is 10194959. A replay of the call will be available until February 12, 2025 at 9:00 a.m. (Eastern Time), by dialing 877.344.7529 or 412.317.0088 for international callers; the replay conference ID is 2159030. An audio recording will also be available on the Company’s website.
About Artisan Partners
Artisan Partners is a global investment management firm that provides a broad range of high value-added investment strategies to sophisticated clients around the world. Since 1994, the firm has been committed to attracting experienced, disciplined investment professionals to manage client assets. Artisan Partners’ autonomous investment teams oversee a diverse range of investment strategies across multiple asset classes. Strategies are offered through various investment vehicles to accommodate a broad range of client mandates.
Source: Artisan Partners Asset Management Inc.
Investor Relations Inquiries
866.632.1770
ir@artisanpartners.com
Source: European Parliament
On 6 February, ENVI Members will hold an exchange of views with Commissioner Costas Kadis, responsible for Fisheries and Oceans. The discussion will focus on the Commission’s upcoming initiatives on oceans at both EU and international levels.
Commissioner Kadis will present the Commission’s priorities on ocean-related matters, including on the upcoming European Oceans Pact, developments on the Agreement on Marine Biodiversity on Areas Beyond National Jurisdiction (BBNJ), initiatives to tackle marine litter, and preparations for the UN Ocean’s Summit. The exchange will provide an opportunity to address the EU’s role in global ocean governance. The debate will be structured in two rounds of questions, allowing Members to engage with the Commissioner on key policy developments.
Source: GlobeNewswire (MIL-OSI)
OMAHA, Neb., Feb. 04, 2025 (GLOBE NEWSWIRE) — Greystone Housing Impact Investors LP (NYSE: GHI) (the “Partnership”) announced today that on January 31, 2025, Vantage at Tomball, a 288-unit market rate multifamily property located in Tomball, TX, was sold at the direction of its managing member. The Partnership’s investment in Vantage at Tomball was originated in August 2020 and the Partnership contributed equity totaling $11.4 million. As a result of the sale, the Partnership’s equity investment in the property was redeemed. At closing of the sale, the Partnership received net cash of approximately $14.2 million, consisting of the return of its contributed equity and accrued preferred return. The Partnership estimates it will not recognize any gain, loss, or Cash Available for Distribution upon sale.
“The proceeds from the sale of Vantage at Tomball will allow the Partnership to deploy capital into new accretive investments across our investment classes,” said Kenneth C. Rogozinski, Chief Executive Officer of the Partnership. “The Partnership’s overall return on the Vantage at Tomball investment was less than what has historically been achieved on prior equity investments due to rising insurance costs in the Houston metropolitan area as well as the higher interest rate environment since the last joint venture equity sale of the Vantage at Conroe investment in June 2023. However, we continue to believe in the long-term value of our multifamily property joint venture equity investment strategy.”
Disclosure Regarding Non-GAAP Measures
This report refers to Cash Available for Distribution (“CAD”), which is identified as a non-GAAP financial measure. We believe CAD provides relevant information about the Partnership’s operations and is necessary, along with net income, for understanding its operating results. Net income is the GAAP measure most comparable to CAD. There is no generally accepted methodology for computing CAD, and our computation of CAD may not be comparable to CAD reported by other companies. Although we consider CAD to be a useful measure of our operating performance, CAD is a non-GAAP measure and should not be considered as an alternative to net income that is calculated in accordance with GAAP, or any other measures of financial performance presented in accordance with GAAP. For the amounts disclosed herein related to this transaction, there are no reconciling items between net income per BUC, basic and diluted, and CAD per BUC, basic and diluted.
About Greystone Housing Impact Investors LP
Greystone Housing Impact Investors LP was formed in 1998 under the Delaware Revised Uniform Limited Partnership Act for the primary purpose of acquiring, holding, selling and otherwise dealing with a portfolio of mortgage revenue bonds which have been issued to provide construction and/or permanent financing for affordable multifamily, seniors and student housing properties. The Partnership is pursuing a business strategy of acquiring additional mortgage revenue bonds and other investments on a leveraged basis. The Partnership expects and believes the interest earned on these mortgage revenue bonds is excludable from gross income for federal income tax purposes. The Partnership seeks to achieve its investment growth strategy by investing in additional mortgage revenue bonds and other investments as permitted by its Second Amended and Restated Limited Partnership Agreement, dated December 5, 2022, taking advantage of attractive financing structures available in the securities market, and entering into interest rate risk management instruments. Greystone Housing Impact Investors LP press releases are available at www.ghiinvestors.com.
Safe Harbor Statement
Information contained in this press release contains “forward-looking statements,” which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, but are not limited to, risks involving current maturities of our financing arrangements and our ability to renew or refinance such maturities, fluctuations in short-term interest rates, collateral valuations, mortgage revenue bond investment valuations and overall economic and credit market conditions. For a further list and description of such risks, see the reports and other filings made by the Partnership with the Securities and Exchange Commission, including but not limited to, its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Readers are urged to consider these factors carefully in evaluating the forward-looking statements. The Partnership disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
INVESTOR CONTACT:
Andy Grier
Senior Vice President
402-952-1235
MEDIA CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com
Source: EuroStat – European Statistics
European Commission Speech Brussels, 04 Feb 2025 Ladies and gentlemen,
I am happy to be here today to present to you the state of our waters in the European Union.
As you know, water is very high on the Commis…
Source: European Parliament
Ordinary road trucks are not subject to an export ban within the EU restrictive measures vis-à-vis Syria, as established in Council Regulation (EU) No 36/2012[1]. However, when exporting such trucks to Syria, EU operators should ensure that no funds or economic resources are made available to listed persons.
The responsibility for the implementation and enforcement of EU sanctions lies with the Member States. In case of doubt, EU operators are encouraged to seek assistance from the relevant Member State national competent authority. The Commission stands ready to support Member States in the uniform application of EU sanctions, including by providing clarifications where necessary.
The Commission works in close coordination with the Member State national competent authorities to monitor the implementation of EU sanctions. This close coordination ensures that the EU’s Syria sanctions are responsive to any issues observed during the implementation of EU sanctions. In the event of any possible breach, the Commission brings this to the attention of the national competent authorities. It is then for national authorities to investigate the matter.
For EU operators to minimise the risk of engagement with designated persons or entities, the Commission recommends a risk-based approach consisting of risk assessment, multi-level due diligence and ongoing monitoring.
Source: GlobeNewswire (MIL-OSI)
EFFINGHAM, Ill., Feb. 04, 2025 (GLOBE NEWSWIRE) — Midland States Bancorp, Inc. (NASDAQ: MSBI) announced today that its Board of Directors declared a quarterly cash dividend of $0.31 per share of its common stock. The dividend is payable on February 21, 2025 to all shareholders of record as of the close of business on February 14, 2025.
The Board of Directors also declared a cash dividend of $0.4844 per depository share on its 7.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. The dividend will be payable on March 31, 2025 to stockholders of record as of March 17, 2025.
About Midland States Bancorp, Inc.
Midland States Bancorp, Inc. is a community-based financial holding company headquartered in Effingham, Illinois, and is the sole shareholder of Midland States Bank. As of December 31, 2024, the Company had total assets of approximately $7.53 billion, and its Wealth Management Group had assets under administration of approximately $4.15 billion. The Company provides a full range of commercial and consumer banking products and services and business equipment financing, merchant credit card services, trust and investment management, insurance and financial planning services. For additional information, visit https://www.midlandsb.com/ or https://www.linkedin.com/company/midland-states-bank.
CONTACTS:
Eric T. Lemke, Chief Financial Officer, at elemke@midlandsb.com or (217) 342-7321
Source: European Parliament
While the coastal States agree that the total catches of mackerel should be set in line with the best available scientific advice, the lack of a comprehensive quota sharing agreement means that coastal States decide individually the level of their annual quotas, thereby collectively exceeding such advice.
Unilateral mackerel quota increases by some coastal States threaten the sustainability of shared stocks and undermine the efforts to manage fisheries responsibly.
This unsustainable exploitation not only threatens the long-term viability of the stock, but also negatively impacts the economic sustainability of the EU fleet, reducing profitability due to diminishing catch rates and potential regulatory constraints.
Coastal States consultations for a sharing arrangement are ongoing since 2022 with an active involvement from the EU, represented by the Commission, in close coordination with the Council.
The Commission’s focus in these consultations is to advocate for comprehensive arrangements that ensure a sustainable, equitable, and fair management of the mackerel stock.
Moreover, as regards trade, mackerel is currently no longer covered by the EU’s additional bilateral market access concessions to the European Economic Area (EEA) countries.
The Commission is determined to strengthen the EU’s sustainability tools. It has therefore adopted in September 2024 a proposal to clarify the application of Regulation 1026/2012[1] to address third country practices regarding non-sustainably fished stocks.
This proposal is currently under discussion in the European Parliament and the Council as part of the ordinary legislative procedure.
Source: GlobeNewswire (MIL-OSI)
GRAND-LANCY, Switzerland, Feb. 04, 2025 (GLOBE NEWSWIRE) — Temenos (SIX: TEMN) today announced that UK-based Aldermore Bank (Aldermore) has selected Temenos SaaS to modernize its existing savings operations starting with quickly launching new savings notice accounts for small businesses.
The bank will adopt Temenos Business & Corporate Enterprise Service to achieve a fast time to market and scale efficiently as it seeks to grow customer deposits and unlock new sources of revenue. Using Temenos’ end-to-end service for business and corporate banking, Aldermore will leverage pre-configured, proven capabilities across core and digital banking, to enable rapid deployment of its new products.
Following the launch of these, Aldermore will also migrate its existing business savings accounts to Temenos, consolidating multiple legacy systems on a single, cloud-based solution with the highest security standards. This will enable the bank to increase efficiency and deliver exceptional experiences in line with its customer-centric business model.
Part of First Rand Group, the largest financial services group in Africa, Aldermore is a multi-specialist lending and savings provider with total assets of £20.5bn. The bank is focused on helping groups underserved by mainstream providers, particularly SMEs, homeowners, landlords and intermediaries.
With Temenos Business & Corporate Enterprise Service, Aldermore will benefit from high levels of automation to easily configure banking services that meet the specific needs of its client base. Leveraging, pre-packaged capabilities tailored to the UK market, as well as pre-defined user journeys and proven processes, Aldermore will be able to quickly move these into production and scale according to customer demand on a proven, modern solution.
Alex Myers, Commercial Director for savings at Aldermore Bank, said: “This strategic technology investment will help us to rapidly expand our offering, providing more customer-centric solutions and exceptional experiences for the underserved small business market. With Temenos SaaS, we can launch new products in record time, with the agility to adapt to the changing needs of our customers.”
Mark Yamin-Ali, Managing Director, Europe, Temenos, commented: “We’re delighted Aldermore has chosen Temenos SaaS to help drive its expansion of business savings. Aldermore prioritized both advanced technology and robust functionality, and Temenos was the only provider that met both needs. With pre-configured, proven capabilities tailored to the UK market and the small business sector, Temenos will help the bank to deliver a much faster time to market and increased efficiency as it looks to drive future growth.”
Temenos is the global market leader in banking software, ranked #1 by IBS Intelligence in eight categories, including core, digital and Islamic banking, in the latest IBS Intelligence Sales League Table. Temenos was also named a Leader in the The Forrester Wave™: Digital Banking Processing Platforms, Q4 2024.
About Aldermore Bank
Aldermore backs more people to go for it, in life and business. We get finance to people who want to get on in life; building businesses, buying property and purchasing vehicles. And we champion equality by supporting those that the big traditional banks can’t or won’t help.
The Group consists of two operating companies, Aldermore Bank plc and MotoNovo Finance Limited. Aldermore Bank provides finance to business owners, homeowners and landlords, and supports savers. It operates online, by phone and through networks. MotoNovo Finance helps people buy their next car, van or motorcycle.
Aldermore Group is part of FirstRand Group, the largest financial services group in Africa by market capitalisation.
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.
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 Email: Temenos@EdelmanSmithfield.com |
Source: European Parliament
World Cancer Day is an international day observed every 4 February to raise awareness about cancer, encourage its prevention, and mobilise action to address the global cancer epidemic. Cancer is a major health concern worldwide, being the second-leading cause of death globally. The World Cancer Day theme 2025-2027, “United by Unique” places people at the centre of care and explores new ways of making a difference.
Source: European Parliament
The next meeting of the European Parliament’s Delegation for relations with the countries of the Andean Community (DAND) is scheduled for:
Thursday, 20 February 2025, 13.30-14.00
Room: SPINELLI 1G2
This meeting will be dedicated to the election of the two Vice-chairs of DAND delegation.
Source: National Ocean Industries Association – NOIA
Headline: NOIA Applauds Secretary Burgum’s Actions on Offshore Energy
For Immediate Release: Tuesday, February 4, 2025NOIA .org
NOIA Applauds Secretary Burgum’s Actions on Offshore Energy
Washington, D.C. – National Ocean Industries Association President Erik Milito expressed its strong support for the series of Secretarial Orders signed by Secretary Doug Burgum to unleash America’s energy potential:
“NOIA strongly supports Secretary Doug Burgum’s decisive actions to strengthen American energy security, reinforce national security, and unleash the full potential of the U.S. offshore energy industry. These Secretarial Orders send a powerful message: American energy leadership is back.
“By addressing burdensome regulatory barriers—including a much-needed reassessment of the inadequate 2024-2029 offshore oil and gas leasing program—these actions will align U.S. energy policy with the nation’s current and future needs. They will enhance energy security, bolster national defense, grow our economy, and keep energy affordable for every household and business, reducing reliance on foreign adversaries.
“By restoring regulatory certainty, attracting investment, and creating high-quality jobs while maintaining high levels of environmental stewardship, these reforms will strengthen America’s position as the global energy leader. NOIA looks forward to working with Secretary Burgum and DOI leadership to implement these critical policies and secure a stronger offshore energy future.”
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About NOIA The National Ocean Industries Association (NOIA) represents and advances a dynamic and growing offshore energy industry, providing solutions that support communities and protect our workers, the public and our environment.
Source: Thales Group
Headline: Thales Alenia Space signs a contract with Mohammed Bin Rashid Space Centre to develop the Emirates Airlock Module, a critical element of Lunar Gateway
Thales Alenia Space strengthens its cooperation with the UAE as a key partner in future space missions
Cannes, February 4th, 2025 – Thales Alenia Space, a joint venture between Thales (67%) and Leonardo (33%), has signed a contract with Mohammed Bin Rashid Space Centre (MBRSC), the scientific and technological hub driving the UAE’s leadership in space services and exploration, for the design and development of the Emirates Crew and Science Airlock Module to be docked to Lunar Gateway cislunar space station.
The Airlock will allow astronauts to perform spacewalks, transfer research to and from the lunar station, and serve as an additional docking port for spacecraft vehicles. This contribution to Gateway will establish the UAE as a major player in space exploration, develop the Science Community in the UAE and prepare the next generations of scientists and engineers to support space programs.
Emirates Airlock: allowing extravehicular activities for astronauts
© Thales Alenia Space/Briot
The Emirates Airlock will be designed to allow extravehicular activities (EVA) for astronauts, enhance Gateway operations and utilization, and offer a scientific airlock capability.
This pressurized module will provide space for the storage and maintenance of EVA suits, EVA-related tools and equipment, as well as a science airlock for transferring scientific experiments and Gateway hardware between the pressurized volume and the exterior of the cislunar space station.
The key milestones planned for 2025 are the Mission Concept Review followed by the System Requirements Review and the Preliminary Design Reviews at primary structure and, respectively, system level.
“I would like to sincerely thank the Mohammed Bin Rashid Space Centre (MBRSC) for putting its trust in our company”, Thales Alenia Space CEO, Hervé Derrey, said. “This new pressurized element is crucial for Lunar Gateway as it will be designed to enable extravehicular activities for astronauts in particular. We are delighted to accompany the MBRSC and the UAE bold vision in space exploration and support their commitment to international partners. This new contract emphasizes even more Thales Alenia Space’s leading positions in the fields of space transportation systems, orbital infrastructures and deep space exploration”.
“I want to express my gratitude to the MBRSC for entrusting Thales Alenia Space in the manufacturing of the Emirates crew and science airlock module dedicated to Lunar Gateway” said Giampiero Di Paolo, Deputy CEO and Senior Vice President, Observation, Exploration and Navigation at Thales Alenia Space. “This partnership is a significant milestone, reflecting the trust the UAE has placed in our expertise and commitment to advancing space exploration. The Airlock module paves the way to the UAE’s remarkable commitment to innovation and excellence in space endeavours. Our goal is to work with the space community to contribute to lunar exploration and to continuous presence on the lunar surface. In that sense, we continuously invest in new technological developments and foster innovation. Challenges like this stimulate us and our supply chain for the benefit of the whole space ecosystem”.
Our company has leveraged its longstanding experience in pressurized modules to offer a fifth module for the cislunar space station, including Lunar-View, Lunar-Link, Lunar I-Hab for ESA, HALO’s pressurized module for Northrop Grumman and now the Emirates airlock module.
About MBRSC
The Mohammed Bin Rashid Space Centre (MBRSC), established in 2006, is a leading scientific and technological hub driving the UAE’s leadership in space services and exploration. MBRSC has grown to become the incubator of the UAE National Space Programme, fostering scientific research, innovation and building a sustainable space sector in the UAE. MBRSC is committed to innovation, collaboration, and excellence in all aspects of space exploration and development.
About Thales Alenia Space
Drawing on over 40 years of experience and a unique combination of skills, expertise and cultures, Thales Alenia Space delivers cost-effective solutions for telecommunications, navigation, Earth observation, environmental management, exploration, science and orbital infrastructures. Governments and private industry alike count on Thales Alenia Space to design satellite-based systems that provide anytime, anywhere connections and positioning, monitor our planet, enhance management of its resources and explore our Solar System and beyond. Thales Alenia Space sees space as a new horizon, helping to build a better, more sustainable life on Earth. A joint venture between Thales (67%) and Leonardo (33%), Thales Alenia Space also teams up with Telespazio to form the parent companies’ Space Alliance, which offers a complete range of services. Thales Alenia Space posted consolidated revenues of approximately €2.2 billion in 2023 and has around 8,600 employees in 8 countries, with 16 sites in Europe.
Source: Verizon
Headline: Verizon adds another epic deal for mobile and home customers with Google One AI Premium
Verizon continues to pack more value into myPlan and myHome with the addition of the first AI perk from a wireless provider — Google One AI Premium.
Starting February 6, Verizon customers can choose Google One AI Premium as a perk on their myPlan (mobile) or myHome (internet) plan for just $10 a month — that’s half the price of the usual $19.99. This new perk unlocks access to Gemini Advanced, 2 TB of storage, and more benefits across Google — all in one incredible package, making everyday tasks easier.
Verizon isn’t just keeping up with the future — we’re building it. Being the first U.S. wireless provider to offer an AI-powered perk shows how serious we are about leading the way in innovation. And the value? Unmatched.
For just $10 a month, you’re unlocking your pass to Google’s next-gen AI with Gemini Advanced, Gemini in Google apps like Gmail and Docs, plus priority access to Google’s newest AI solutions — from new features to experimental models. These tools can completely transform how you work, learn and create. Whether you’re a busy professional looking for ways to save time, a student tackling big projects, or someone who just likes to experiment, this perk gives you tools that take your productivity and creativity to the next level.
With Google One AI Premium, Verizon is leading the charge in making advanced AI more accessible than ever.
“As the first U.S. wireless provider to offer an AI-powered perk at an incredible value, we’re putting the future of AI directly into our customers’ hands, making everyday tasks easier via Google One AI Premium,” said Sowmyanarayan Sampath, CEO Verizon Consumer. “We’ll continue to bring our mobile and internet customers new deals and even more ways to personalize their plans based on how they live, work and play.”
Here’s what you’re getting for only $10 a month:
Get more done, faster with your personal tutor, analyst or coach. With Gemini Advanced, it’s like having a super-smart assistant by your side 24/7 to help you tackle tasks and spend more time on what’s most important. You can use Gemini in the Google apps you already know and love like Gmail, Docs, Meet, Slides and Sheets to write a draft, take meeting notes, create stunning presentations, visualize data and more.
Streamline your daily tasks. Create and use custom AI experts (“Gems”), for any topic, turning Gemini into your personal brainstorming partner, study helper or planning assistant.
Save hours on research. Analyze whole books and stacks of articles (up to 1,500 pages) or use Deep Research to browse hundreds of sites and create comprehensive reports in minutes to bring you up to speed on a topic.
Get more space for what’s important. With 2 TB of cloud storage, you’ll have plenty of space to keep your files, photos, and videos safely backed up to the cloud. Forget about running out of room or losing track of important stuff.
Verizon is committed to always enhancing myPlan and myHome, and the addition of Google One AI Premium is just the latest example of how we’re providing customers with more value and flexibility.
Here’s what makes myPlan and myHome so unique:
Already a Verizon customer? Just log into the My Verizon app or visit verizon.com on February 6 to add Google One AI Premium perk to your plan. Not a customer yet? Check out our free trial and find out why Verizon is awesome.
1 Google One AI Premium perk requires line subscribed to myPlan or a Verizon Home Internet plan with myHome. Must be 18 yrs or older. Cancel anytime. One offer per eligible Verizon line or eligible Verizon Home Internet (“VHI”) plan. Add’l terms apply.
Source: United Nations 4
The UN Humanitarian Coordinator in Sudan has again urged warring parties to stop targeting civilians.
Clementine Nkweta-Salami issued a statement on Tuesday lamenting the “relentless” intensifying shelling, air and drone strikes against civilians in the Darfur and Kordofan regions, and other conflict-affected areas.
The Sudanese Armed Forces (SAF) and military rivals the Rapid Support Forces (RSF) have been locked in a battle for power since April 2023, causing widespread death, destruction and displacement.
“Reports of continued indiscriminate attacks on homes, markets and displacement camps are deeply alarming,” said Ms. Nkweta-Salami. “This is not warfare – this is a ruthless assault on human life.”
Furthermore, “the use of starvation as a weapon of war against innocent people in Al Fasher, North Darfur, is appalling.”
She stressed that the laws of war are clear, noting that all sides to the conflict have a legal and moral obligation to protect civilians and civilian infrastructure.
“The world cannot look away as civilians are caught in the crossfire, bearing the brunt of a war that continues to disregard the most fundamental rules of armed conflict and international humanitarian law,” she said.
The senior official once again called on all sides to respect international humanitarian law, stop targeting civilians and civilian infrastructure, and allow immediate, unimpeded humanitarian access to those in need.
“This war must not continue to be fought at the expense of the lives of innocent Sudanese children, women and men,” she said.
The UN’s top aid official continues his week-long visit to Israel and the Occupied Palestinian Territory focused on engaging with authorities, aid partners and those on the frontlines of the humanitarian response.
Emergency Relief Coordinator Tom Fletcher was in Nir Oz in southern Israel on Tuesday, where a quarter of all residents were killed or taken hostage in the Hamas-led attack on 7 October 2023.
In a social media post, he stressed that the ceasefire must hold, that all civilians must be protected, and that all hostages must be freed.
Mr. Fletcher also held several meetings with Israeli officials, both on Tuesday and on Monday night.
They discussed ways to sustain the surge of humanitarian support to Gaza, as well as the ongoing challenges in the West Bank, where violence has risen.
The UN and humanitarian partners estimate more than 565,000 people have crossed from the south of Gaza to the north since 27 January, while more than 45,000 people have been observed making the journey from the north to the south.
Mr. Fletcher arrived in the region on Monday and met Palestinian Prime Minister Mohammad Mustafa, in addition to holding separate talks with the president of the Palestine Red Cresent Society.
© Unsplash/National Cancer Institute
Regular mammograms can help find breast cancer at an early stage.
This Tuesday, 4 February, is World Cancer Day and UN health agency WHO is honouring the courage of people affected by the disease and celebrating scientific progress to treat it.
“Every minute, 40 people are diagnosed with cancer globally, and embark on a journey to overcome it,” WHO chief Tedros Adhanom Ghebreyesus noted in a post on the social media platform X.
He said that “around the world, WHO is working with partners to create global coalitions, catalyze local action and amplify the voices of people affected by cancer.”
Its efforts to improve the lives of millions include providing medicines for paediatric cancers as well as a global campaign aimed at eliminating cervical cancer.
Tedros also used the commemoration of World Cancer Day to affirm WHO’s commitment to health for all.
Source: United Nations 4
By Vibhu Mishra
The United Nations on Tuesday condemned a deadly car bomb attack in the Syrian city of Manbij that killed 20 people, mostly women, and left many others critically injured.
The explosion on Monday – close to the Turkish border – targeted a vehicle transporting seasonal agricultural workers. According to news reports, at least 11 women and three children were among the dead.
It follows another attack just days earlier that killed four civilians and injured nine others, including six children. Monday’s car bombing was reportedly the seventh in just over a month and it marks the deadliest attack inside Syria since the fall of the Assad regime.
The area has been a battleground for Turkish-backed forces and mostly Kurdish fighters. No group has claimed responsibility for Monday’s attack so far.
“We reiterate that all parties must uphold their obligations under international humanitarian law to protect civilians,” said UN Spokesperson Stéphane Dujarric, briefing journalists in New York.
“Civilians and civilian infrastructure should never be targeted.”
Meanwhile, hostilities persist in northeast Syria, particularly in eastern Aleppo, Al-Hasakeh and Ar-Raqqa, where over 25,000 have been displaced.
Shelling, airstrikes, and ongoing clashes have devastated communities, leading to widespread destruction of homes, hospitals, and essential infrastructure, according to a humanitarian bulletin issued by UN relief coordination office, OCHA.
Across the country, lack of public services and funding have made it difficult for humanitarian organizations to respond.
In Homs and Hama, electricity is available for only 45 to 60 minutes every eight hours, while in northwest Syria, more than 100 health facilities have run out of funding since the start of the year.
The UN and its partners are appealing for $1.2 billion to assist 6.7 million of Syria’s most vulnerable people through March 2025.
Despite the challenges, UN agencies and partners continue their efforts to deliver assistance and monitor the situation, as security allows.
On February 3, a UN cross-border mission from Türkiye to Idlib assessed cash distribution efforts – part of a broader effort to reach communities in need.
“So far in 2025, we completed 40 cross-border missions to Syria, mostly to monitor and assess projects – nearly double the number of missions that we had at the same time last year,” Mr. Dujarric said.
On January 30, UN teams also conducted an assessment mission to Sweida, close to the Jordanian border, marking the first UN presence in the area since October 2023. The visit revealed critical shortages of drinking water and irrigation resources, exacerbated by years of drought.
© UNICEF/Muhannad Aldhaher
Meanwhile, a recent survey by the UN refugee agency, UNHCR, found that 27 per cent of Syrian refugees in Jordan, Lebanon, Iraq and Egypt, plan to return home within the next 12 months – a sharp increase from less than 2 per cent recorded in April last year.
Since the fall of the Assad regime in December, to 23 January, over 210,000 Syrians have returned with many facing challenges related to destroyed property, lack of infrastructure, and security concerns.
Internally displaced persons (IDPs) within Syria are also beginning to return home, albeit in small numbers.
Since early December, approximately 57,000 IDPs – mostly single-family groups or individuals – have left IDP camps.
However, nearly two million people remain in over 1,500 camps across Idlib and northern Aleppo, where safety concerns and a lack of essential services continue to hinder returns.
Source: Government of Canada regional news
Niki Sharma, Attorney General, has released the following statement on Access to Justice Week, from Feb. 3-7, 2025:
“Access to Justice Week is an opportunity to reflect on how B.C.’s justice system can best work for British Columbians. This year’s theme is: What does the future of access to justice look like?
“Throughout the province, we are taking action to modernize our justice system through enhancements to technology that will increase access to justice and convenience for British Columbians. It means breaking down barriers by introducing technology that brings legal services to remote and under-served communities and simplifying processes to reduce complexity for people involved with the justice system. Online platforms, virtual hearings and other innovative tools are making the justice system more accessible, saving time and money.
“People are at the centre of the changes we are making. For instance, the Province launched new services to help people whose intimate images have been shared without their consent. The Intimate Images Protection Service offers emotional support and helps with applications to the Civil Resolution Tribunal for “take-down” orders. Additionally, these services provide self-help tools, legal information and connections to resources.
“We have significantly expanded the eligibility criteria for family legal-aid services and have opened two new family law clinics in Victoria and Surrey for people experiencing family violence. Families will also benefit from early access to information and referrals in Provincial Court. We are supporting the early resolution process by adding eight more court registries by November 2025.
“The Ministry of Attorney General and the BC First Nations Justice Council will soon open six new Indigenous Justice Centres. Nine centres opened last year, for a total of 15, and a virtual centre is also available provincewide. These centres address systemic barriers faced by Indigenous people by offering culturally appropriate supports, legal advice and representation to Indigenous people.
“Everyone deserves to feel safe in their communities, and confident that justice is being served. We will ensure strong and safe communities for everyone throughout the province by aggressively pushing the federal government for continuing legal reform and co-operation with the Province that will ensure violent and prolific offenders remain in custody after arrest.
“The Province is committed to transforming the justice system by enhancing access to services for British Columbians. We have more work to do, and we are committed to doing it, because the work we do today will shape a better tomorrow. I am proud of the strides we’ve made, and I am committed to the modernization of our legal system to increase access to justice in B.C.”
Source: New Zealand Ministry of Health
The Public Health Surveillance Strategy 2025-2030 is designed to strengthen our public health surveillance system to better support increased life expectancy with quality of life for New Zealanders.
The strategy was a collaboration between the Public Health Agency with the wider Ministry, Health New Zealand, and ESR. Extensive consultation with the wider surveillance sector informed its development.
Public health surveillance is the collection and dissemination of health or health-related information to plan and implement initiatives to help keep people healthy, and protect them from new health threats, such as disease outbreaks.
Sources of information for public health surveillance can be drawn from across the health system, government, and wider society. They include laboratory test results, mortality data, wastewater testing, global health data, mosquito surveillance, health surveys, clinician reporting, and even retail spending.
The health system has an obligation to protect and improve the health of New Zealanders. This cannot be achieved without the well-coordinated and systematic collection of public health information. The strategy outlines an approach to public health surveillance based on ensuring the confidentiality, privacy and protection of people’s personal health data. It supports using information only to support protecting and improving the health of New Zealanders.
The strategy identifies four strategic directions. These include:
Source: CoreLogic – Commentary from Kelvin Davidson, CoreLogic NZ Chief Property Economist
In today’s Pulse, CoreLogic NZ’s Chief Property Economist Kelvin Davidson looks at the conditions facing first home buyers (FHBs) in 2025, with the data pointing to favourable market conditions – although their percentage share of activity may not hold at recent record highs.
A look back at 2024The full-year CoreLogic Buyer Classification data for 2024 showed another strong performance from first home buyers (FHBs), making up 26.1% of property purchases. That was a new record high, surpassing the previous mark of 25.7% set the previous year. Granted, at around 20,850, the number of FHB purchases had been beaten on seven previous occasions since 2005 (including each year from 2019 to 2021), but it was still a solid year on that measure too.
| Opinion – by Conor English 5 February 2025 – Everyone has a plan until they get punched in the face – Boxer Mike Tyson famously said, “Everyone has a plan until they get punched in the face”. He was simply pointing out in his own unique direct way, that sometimes things don’t go the way you think. There can be unintended consequences. Your opponent can counter punch, so a “plan b” can be useful! The new USA government has a plan to use tariffs as a way of incentivising other countries to do things that are helpful to the USA. Things like curtail immigrants or drugs travelling over the border, or to shift their manufacturing jobs to America. The President has described the word “tariffs” as “the most beautiful word in the dictionary” so its clear he likes the idea of using tariffs. It does have some logic. Maybe this plan will work? So, using emergency powers that enable quick action, rather than long winded trade negotiation processes, this plan is being implemented this week. First up, 10% tariff on goods from China, and energy products from Canada. Tariffs will be set at 25% for most other goods from Canada and Mexico. If these countries change their drug, migration and manufacturing policies, the USA will look to review the tariff levels. That’s the new deal. New Zealand had its own tariffs for many years as was fashionable. But now we seek fair trade, with no tariffs or quotas, or other non-tariff trade barriers in our trading relationships. It matters to us as a small trading country at the bottom of the world. Multilateral co-operation and enforcement frameworks such as the World Trade Organisation are vital. America, like many countries, has a long history of using tariffs. An excellent example of how things can end up like a punch in the face, as Mike Tyson would put it, is the passing of what was known as the “Smoot Hawley” Tariff Act on June 17, 1930. This raised tariffs on over 20,000 imported goods, despite a petition signed by 1,028 economists asking President Hoover to veto the legislation. He didn’t. The theory was it would save jobs in America and protect local producers from international competition following the “Black Thursday” share market crash on October 24, 1929. But it didn’t make things better, it made things worse. Americas trading partners punched back. They didn’t do nothing. They retaliated, just as Canada and Mexico now have. The world economy and geopolitics has evolved significantly since the great depression and what happened then may not happen now. However, history can perhaps provide some small insight as to how this might play out. Wikipedia tells us that after the Smoot- Hawley passed – yes – USA imports did decrease by 66% from $4.4 billion in 1929, to $1.5 billion in 1933. So that must be good for domestic jobs and industries? Well no, because other countries punched back with their own tariffs, as well as sourcing their own imports from other countries rather than America. As a result, USA exports also decreased 61% from $5.4 billion to $2.1 billion. GNP fell from $103.1 billion in 1929 to $75.8 billion in 1931, bottoming out at $55.6 billion in 1933, a drop of around 50% over four years. So rather than create jobs, jobs were lost, and plenty of them. Unemployment was at 8% in 1930 when the Smoot–Hawley Tariff Act was passed, but the new law failed to lower it. The unemployment rate jumped to 16% in 1931, and 25% in 1932–33. The factories that produced those export goods couldn’t sell their products, so staff lost their jobs. Unemployment didn’t fall below early 1930s levels until the massive economic stimulus of World War 2. As with any economy, there is always more than just one thing happening, but at that time, that is what happened in the USA. So how does this current fast changing situation effect New Zealand? Unlike 100 years ago, we get impacted very quickly by the transmission of changes in our exchange rate, interest rates, commodity prices, share markets and trade flows. This then flows through our economy. For example, if inflation goes up in America because of the new tariffs, international interest rates may go up, thus reducing the speed of any reductions on our mortgage rates. Dairy commodity prices might rise, but so too might international oil prices, pushing up our fuel prices and inflation. Our dollar may fall, making it cheaper for tourists to visit, but the cost of servicing our increasing national debt more expensive. Chinese built EVs may be more available and cheaper here as cars are diverted from the USA market. There will be all sorts of positive and negative impacts, unintended consequences and unforeseen outcomes. It could be overall positive or overall negative for both America and New Zealand, but we just don’t know. We do know though that it creates more uncertainty, and that’s not helpful to anyone. So will it be a punch in the face, as Mike Tyson suggests, or a pat on the back? Either way, we need to be fleet of foot and have a “Plan B”. Conor English is a Director of Silvereye – a Wellington based Government relations firm, a former exporter, CEO of Federated Farmers, and Independent Advisor to the Reserve Bank of New Zealand. |
Source: AO Communications
Lise & Sarah’s DISCO CLUB will turn up the volume again in 2025 with its Australian and New Zealand tour, with general release tickets on sale now.
In 2025, 20,000 women* will have the chance to dance at the sell-out phenomenon that is Lise & Sarah’s DISCO CLUB. And for the first time an international trip across the ditch to Auckland, NZ.
Founded two years ago by best friends and podcasters, Lise Carlaw and Sarah Wills, DISCO CLUB continues to grow and establish itself as the ultimate night out for women, delivering an electric night of dancing and singing with friends.
“DISCO CLUB is designed by women for women: everything we miss about clubbing and nothing we don’t,” said Lise.
“While it all started with a simple conversation between us about how much we missed nights out dancing with our girlfriends, we have seen first hand – over and again – the incredible collective joy shared on a judgement-free night of much-needed fun,” said Sarah.
“There’s an undeniable energy – the power of song and movement, of freedom, that comes with feeling safe, comfortable and welcome – the scene is set to feel the emotion and revel in nostalgia.”
“But it’s not just about the music – it’s about connection – connection between both friends and strangers and across generations, and that’s why it’s booming,” said Lise. “Women continually tell us it’s dancefloor therapy.”
Another essential element is the early start and finish time, with arrivals from 6pm for a 7pm start and 10pm finish. “We simply wanted a great night out and a chance to press pause on real life, but we also wanted to be in our PJs by 11pm, and it turns out we’re not alone!” said Sarah.
Lise & Sarah’s DISCO CLUB Tour is Australia’s largest event series for women borne from a podcast (The Lise and Sarah Show).
Source: US State of South Carolina
(COLUMBIA, S.C.) – South Carolina Attorney General Alan Wilson sent a letter today to the state’s 46 sheriffs encouraging them to work with U.S. Immigration and Customs Enforcement (“ICE”) to perform some immigration enforcement efforts in their counties.
“Over the last few years, the United States has witnessed an unprecedented and disastrous influx of illegal immigration. This has led to a serious strain on federal and state resources, while also permitting the permeation of crime throughout our communities,” Attorney General Wilson writes.
The purpose of the letter is to encourage the state’s sheriffs to apply for ICE’s Section 287(g) program. It’s a voluntary partnership between ICE and state and local officials that authorizes designated officers to perform limited immigration enforcement functions within their own jurisdictions.
The program allows sheriff’s departments to tailor their participation to one of three levels based on their department’s capabilities and resources.
“As the chief prosecutor of South Carolina, I share the same sentiment as you about keeping our citizens and communities safe,” Attorney General Wilson writes. “This is an utmost priority, and we are called to faithfully uphold the laws and Constitutions of this State and the United States.
He says over the last few years, the 287(g) program has become almost useless because of bureaucratic red tape, but after talking to senior officials at the Department of Homeland Security, he’s confident the program will be overhauled to make it more user-friendly.
“It will enable immigration enforcement to effectively resume and ensure that South Carolina will be safe from criminal illegal aliens. For your reference, South Carolina currently has three counties that have already enrolled in the program. This is a good start, and I strongly encourage your participation for the safety of South Carolinians,” he writes.
You can read the letter here.
Source: US State of California
A Florida man pleaded guilty today in the Southern District of Florida for his role in an insider trading scheme that netted him over $1.6 million in illicit profits.
According to court documents, Stephen George, 54, of Parkland, was a member of the Finance Department at Company A from November 2017 until April 7, 2023, where he held roles including vice president and controller. Company A is a consumer-packaged goods company headquartered in Boca Raton, Florida, that is the maker of a fitness drink and whose securities are publicly traded on the NASDAQ Stock Market. In his role at Company A, George received material non-public information (MNPI) regarding Company A’s profit and revenue performance.
George’s last day of employment at Company A was April 7, 2023. On that day, George used a Company A computer to generate out of Company A’s enterprise resource planning system a consolidated income statement showing Company A’s financial performance for the first quarter of 2023, which George knew contained MNPI. The income statement showed that Company A’s first quarter of 2023 had greatly exceeded expectations. Shortly after generating the income statement, George emailed it to himself using two personal email accounts.
Beginning on April 10, 2023, the first trading day after his last day of employment with Company A, and continuing through May 8, 2023, George purchased Company A securities on the basis of MNPI — specifically, 20,000 shares of Company A common stock and 300 call option contracts. On May 9, 2023, after the market close, Company A publicly reported better-than-expected earnings and sales for the first quarter of 2023, including an all-time quarterly record in revenue. After the public announcement, Company A’s stock price increased significantly. During the next trading day, May 10, 2023, George sold all 20,000 shares of common stock and 300 call option contracts, resulting in over $1.6 million in personal profits.
George pleaded guilty to one count of securities fraud. He is scheduled to be sentenced on April 28 and faces a maximum penalty of 20 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
Supervisory Official Antoinette T. Bacon of the Justice Department’s Criminal Division; U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida; and Acting Special Agent in Charge Justin E. Fleck of the FBI Miami Field Office made the announcement.
The FBI Miami Field Office investigated the case. The Justice Department appreciates the assistance of the Financial Industry Regulatory Authority’s Criminal Prosecution Assistance Group.
Trial Attorneys Matthew F. Sullivan and Matt Kahn of the Criminal Division’s Fraud Section and Assistant U.S. Attorneys Eli S. Rubin and Elizabeth Young for the Southern District of Florida are prosecuting the case. Assistant U.S. Attorney Nicole Grosnoff for the Southern District of Florida is handling asset forfeiture.
Source: United States Attorneys General 1
A Florida man pleaded guilty today in the Southern District of Florida for his role in an insider trading scheme that netted him over $1.6 million in illicit profits.
According to court documents, Stephen George, 54, of Parkland, was a member of the Finance Department at Company A from November 2017 until April 7, 2023, where he held roles including vice president and controller. Company A is a consumer-packaged goods company headquartered in Boca Raton, Florida, that is the maker of a fitness drink and whose securities are publicly traded on the NASDAQ Stock Market. In his role at Company A, George received material non-public information (MNPI) regarding Company A’s profit and revenue performance.
George’s last day of employment at Company A was April 7, 2023. On that day, George used a Company A computer to generate out of Company A’s enterprise resource planning system a consolidated income statement showing Company A’s financial performance for the first quarter of 2023, which George knew contained MNPI. The income statement showed that Company A’s first quarter of 2023 had greatly exceeded expectations. Shortly after generating the income statement, George emailed it to himself using two personal email accounts.
Beginning on April 10, 2023, the first trading day after his last day of employment with Company A, and continuing through May 8, 2023, George purchased Company A securities on the basis of MNPI — specifically, 20,000 shares of Company A common stock and 300 call option contracts. On May 9, 2023, after the market close, Company A publicly reported better-than-expected earnings and sales for the first quarter of 2023, including an all-time quarterly record in revenue. After the public announcement, Company A’s stock price increased significantly. During the next trading day, May 10, 2023, George sold all 20,000 shares of common stock and 300 call option contracts, resulting in over $1.6 million in personal profits.
George pleaded guilty to one count of securities fraud. He is scheduled to be sentenced on April 28 and faces a maximum penalty of 20 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
Supervisory Official Antoinette T. Bacon of the Justice Department’s Criminal Division; U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida; and Acting Special Agent in Charge Justin E. Fleck of the FBI Miami Field Office made the announcement.
The FBI Miami Field Office investigated the case. The Justice Department appreciates the assistance of the Financial Industry Regulatory Authority’s Criminal Prosecution Assistance Group.
Trial Attorneys Matthew F. Sullivan and Matt Kahn of the Criminal Division’s Fraud Section and Assistant U.S. Attorneys Eli S. Rubin and Elizabeth Young for the Southern District of Florida are prosecuting the case. Assistant U.S. Attorney Nicole Grosnoff for the Southern District of Florida is handling asset forfeiture.
Source: GlobeNewswire (MIL-OSI)
WASHINGTON, Feb. 04, 2025 (GLOBE NEWSWIRE) — EB5 Capital, a leading Regional Center operator in the EB-5 industry, announced today that it has secured a $100 million credit facility with EagleBank (NASDAQ: EGBN), one of the largest community banks in the Washington, DC area. This new credit facility, which doubles the firm’s previous $50 million credit line with EagleBank, will significantly enhance EB5 Capital’s ability to remove syndication risk for its sponsors and provide the necessary capital to support future growth.
“This credit facility marks a monumental step forward for EB5 Capital,” said Daniel Shiff, Chief Investment Officer & Managing Partner at EB5 Capital. “It represents our vision of building a company that not only provides valuable investment opportunities but also structures deals in ways that benefit our investors and partners.”
The expanded credit facility strengthens EB5 Capital’s ability to confidently support its sponsors, ensuring access to the necessary funds to close deals and continue the momentum of its portfolio, which now includes over 40 U.S.-based commercial real estate projects. This increased capacity will provide EB5 Capital with greater flexibility in deal structuring, enabling the company to continue attracting high-quality investors and advancing transformative real estate developments that generate jobs and drive economic growth nationwide.
“When we started with just a handful of people over 15 years ago, we could not have imagined the journey we would be on,” said Joseph Tilley, Chief Financial Officer at EB5 Capital. “To now qualify for a $100 million credit line from a leading bank like EagleBank is truly remarkable. It speaks volumes about the strength of our team and our continued growth as a company.”
“EagleBank is proud to support our partners at EB5 Capital in their mission to drive job creation,” stated Evelyn Lee, EVP, Chief Lending Officer C&I at EagleBank. “We look forward to continuing to build our organization into the best community bank for commercial businesses.”
EB5 Capital’s prior $50 million credit facility played a pivotal role in the successful execution of recent investments, and the company is poised to capture even more opportunities with this expanded credit line.
About EB5 Capital
EB5 Capital provides qualified foreign investors with opportunities to invest in job-creating commercial real estate projects under the United States Immigrant Investor Program (EB-5 Visa Program). Headquartered in Washington, DC, EB5 Capital’s distinguished track record and leadership in the industry has attracted investors from over 75 countries. As one of the oldest and most active Regional Center operators in the country, the firm has raised over $1 billion of foreign capital across approximately 40 EB-5 projects. 100% of our investors’ funds are protected by the Federal Deposit Insurance Corporation (FDIC) insurance prior to their deployment into our projects. Please visit www.eb5capital.com for more information.
About Eagle Bancorp, Inc. and EagleBank
Eagle Bancorp, Inc. is the holding company for EagleBank, which commenced operations in 1998. EagleBank is headquartered in Bethesda, Maryland, and conducts full service commercial banking through 12 offices, located in Suburban, Maryland, Washington, D.C. and Northern Virginia. EagleBank focuses on building relationships with businesses, professionals and individuals in its marketplace.
Contact:
Katherine Willis
Director, Marketing & Communications
media@eb5capital.com
Source: GlobeNewswire (MIL-OSI)
TORONTO, Feb. 04, 2025 (GLOBE NEWSWIRE) — Mulvihill Enhanced Split Preferred Share ETF has declared a monthly cash distribution in the amount of $0.08333 per unit, payable on March 7, 2025 to unitholders of record on February 28, 2025.
For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172, email at info@mulvihill.com or visit www.mulvihill.com.
| John Germain, Senior VP & CFO | Mulvihill Capital Management Inc. | |
| 121 King Street West | ||
| Suite 2600 | ||
| Toronto, Ontario, M5H 3T9 | ||
Commissions, trailing commissions, management fees and expenses all may be associated with exchange traded funds (ETFs). Please read the prospectus before investing. ETFs are not guaranteed, their values change frequently, and past performance may not be repeated. There are risks involved with investing in ETFs. Please read the prospectus for a complete description of risks relevant to ETFs. Investors may incur customary brokerage commissions in buying or selling ETFs.