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  • MIL-OSI China: Behind the craze for creative cultural products

    Source: China State Council Information Office 3

    After a nine-day tour in north China’s Shanxi Province, one man is determined to “bring home” the grand pagodas and exquisite sculptures that took his breath away.

    “I have spent more than 1,000 yuan (140 U.S. dollars), which is about a tenth of my holiday budget, on souvenirs!” said the 30-year-old visitor surnamed Ma.

    Shanxi is renowned for its ancient architecture and is home to over 28,000 ancient structures. Its popularity has been boosted recently by the phenomenal video game “Black Myth: Wukong,” which is based on the Chinese classic novel “Journey to the West.”

    “I was fascinated by the ancient architecture, and the fridge magnets were equally amazing,” Ma said. “Each city has its unique creative cultural products. They are like miniatures of the attractions. For me, buying these keepsakes is like preserving the beauty of this trip forever.”

    Shanxi Province launched “Following Wukong to visit Shanxi” this summer, an activity that encourages tourists to “check in” at the filming locations of the video game. It is due to end on Thursday.

    Shortly after the launch, a Monkey King creative product shop opened on the business street in the heart of Taiyuan. It has since been packed with enthusiastic customers vying for products like fridge magnets, notebooks and playing cards.

    Yang Liu, with the shop, told Xinhua that their intention of opening the shop was to take a chance and promote the culture and tourism of the province. Since September 27, their sales have reached 200,000 yuan.

    Shanxi is not alone. Across China, various cultural and creative products are now sought-after mementos or gifts for friends, with their images going viral on social media: necklaces that draw inspiration from traditional brush painting in the Palace Museum; wooden combs in the shape of traditional Chinese musical instruments; vanity mirrors bearing patterns resembling the one on display in the Luoyang Museum of central China; keyboards with the colors of the famous Dunhuang murals and the nine-colored deer image…

    According to a report by Zhiyan Consulting, the market size of China’s cultural and creative products reached 16.38 billion U.S. dollars in 2023, a year-on-year increase of 13.09 percent. In 2020, the sector’s market size accounted for 10.67 percent of the global total, and by 2023 it had risen to 11.56 percent.

    One fridge magnet capturing the elaborate details of a superbly delicate empress crown from ancient China, a treasured piece from the National Museum of China (NMC), has emerged as an internet sensation and sparked a buying spree.

    Aspiring collectors even start queuing from 6 a.m. outside the museum for their chance to snag the memento. Many exchange tips on how to obtain the popular magnet on social media.

    In just three months since its launch, nearly 80,000 magnets have been sold, boosting sales of the entire series of empress crown memorabilia including key chains, furry toys and popsicles, with a total revenue exceeding 10 million yuan, even when facing production capacity constraints. The current daily production capacity for magnets has reached 3,000 units, with potential for further increase to meet growing market demand.

    Liao Fei with the management and development department of NMC disclosed that the design was inspired by social media, where they saw a lot of visitors posting photos of the empress crown.

    Head of a seven-member team, he said: “We always watch the exhibitions and search on social media to see what tourists like.”

    They are also constantly improving the products. Liao found that while there were tips on social media on how to obtain such a fridge magnet, few talked about its unique features. So they decided to make it more innovative.

    On September 27, an AR fridge magnet featuring the empress crown was released, which could be “worn” by the buyer on a mobile phone screen after a scan of the QR code. More than 2,300 such magnets were sold within two hours after its release.

    “In recent years, there has been a boom in the number of such creative products that are of use in various aspects of people’s life,” said Song Yanli, a saleswoman at the official gift shop of the Dunhuang Museum in northwest China’s Gansu Province.

    Noting that buyers today are knowledgeable enough to discern all the cultural elements adopted in the design, the 32-year-old said that they must develop more products to keep pace with public demand.

    “With the improvement of people’s living standard, the consuming behavior of youngsters is changing,” said Mao Jinhuang, a professor with the School of Economics at Lanzhou University. “They are no longer satisfied with simple material consumption but pay more attention to the purchase experience.”

    He believed that while the creative cultural products could offer emotional value to the customers, the craze for them also reflected young people’s love for and interest in Chinese traditional culture.

    According to China’s National Bureau of Statistics, the added value of cultural and related industries in 2022 stood at 5.38 trillion yuan, more than 15 fold of that in 2004, with the share of that in GDP increasing from 2.13 percent to 4.46 percent in the 18 years.

    Bu Xiting, associate researcher with the School of Cultural Industries Management at the Communication University of China, noticed that creative cultural products are becoming a new growth point of tourism consumption. “They have increased the income at tourist attractions, propelled the development of relevant industries and become a driving force to promote local economic growth.

    In the first half of this year, China’s domestic tourist trips reached 2.72 billion, with total tourism expenditure amounting to 2.7 trillion yuan, marking year-on-year increases of 14.3 percent and 19 percent, respectively.

    “With the deepened integration of creative cultural products and the tourism industry, it is expected that such products could play a more important role in boosting the high-quality development of the industry in the future,” Bu said.

    MIL OSI China News

  • MIL-OSI China: China’s cultural sector saw sustained uptick in first three quarters

    Source: China State Council Information Office 3

    Major enterprises in China’s cultural sector and related business areas saw a stable increase in revenues and profits in the first three quarters this year, official data showed on Wednesday.

    The 78,000 surveyed enterprises raked in nearly 9.97 trillion yuan (about 1.4 trillion U.S. dollars) in combined revenue from January to September, up 5.9 percent year on year, according to the National Bureau of Statistics.

    The firms’ profits rose 3.9 percent year on year to 790.3 billion yuan in the nine months, driven mainly by the growth of internet information services and online culture and entertainment platforms.

    Companies featuring new business forms, such as providers of wearable smart cultural devices, online games and entertainment-purpose smart drones, pocketed over 4.16 trillion yuan in revenue, up 10 percent year on year.

    Of the total, the cultural manufacturing industry reported over 2.99 trillion yuan in revenue, up 3.9 percent year on year. The revenue of the cultural wholesale and retail industry reached nearly 1.67 trillion yuan, up 4.4 percent year on year. The revenue of the cultural services industry hit nearly 5.31 trillion yuan, up 7.6 percent year on year. 

    MIL OSI China News

  • MIL-OSI China: LNG receiving terminal in Tianjin witnesses surge in natural gas supply as heating season approaches

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

    LNG receiving terminal in Tianjin witnesses surge in natural gas supply as heating season approaches

    Updated: October 30, 2024 19:44 Xinhua
    Staff members are on duty in the central control room at a liquefied natural gas (LNG) receiving terminal of China Petrochemical Corporation (Sinopec) in north China’s Tianjin, Oct. 29, 2024. As the heating season approaches in many parts of north China, the LNG receiving terminal of Sinopec in Tianjin has witnessed a surge in arrival of LNG container vessels in recent days. The terminal, which serves the seasonal peak-shaving and gas supply tasks for the Beijing-Tianjin-Hebei area, has unloaded 990,000 tonnes of LNG and supplied 900 million cubic meters of natural gas in September and October this year, a year-on-year increase of 87 percent and 20 percent, respectively. [Photo/Xinhua]
    An aerial drone photo shows a liquefied natural gas (LNG) container vessel docking at a LNG receiving terminal of China Petrochemical Corporation (Sinopec) in north China’s Tianjin, Oct. 29, 2024. [Photo/Xinhua]
    Staff members check devices at a liquefied natural gas (LNG) receiving terminal of China Petrochemical Corporation (Sinopec) in north China’s Tianjin, Oct. 29, 2024. [Photo/Xinhua]
    Staff members check devices at a liquefied natural gas (LNG) receiving terminal of China Petrochemical Corporation (Sinopec) in north China’s Tianjin, Oct. 29, 2024. [Photo/Xinhua]
    A drone photo shows a liquefied natural gas (LNG) container vessel docking at a LNG receiving terminal of China Petrochemical Corporation (Sinopec) in north China’s Tianjin, Oct. 29, 2024. [Photo/Xinhua]

    MIL OSI China News

  • MIL-OSI China: China unveils new regulation for professional doctorate in engineering

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

    BEIJING, Oct. 30 — China has released its first set of guidelines outlining criteria and requirements for theses and practice-oriented outputs in professional doctorate applications in engineering to enhance talent cultivation, according to the Ministry of Education.

    The pilot document containing these guidelines encompasses provisions on the scope and quality of dissertations for candidates pursuing a professional engineering doctorate. It also introduces criteria and protocols for awarding the degree based on practical achievements.

    The guidelines follow the passage of a law on academic degrees by China’s national legislature this April. The law, set to take effect next year, allows graduate students to earn their degrees either through a thesis or by submitting required practice-oriented outputs.

    The new guidelines require dissertations to focus on engineering applications and applied research, highlighting the applicant’s proficiency in fundamental theory, specialized knowledge and independent professional practice.

    It is stressed that doctorate applications based on practical achievements should include tangible deliverables and a written summary report.

    China regards education, science and technology, and talent development as the fundamental and strategic foundations for modernization. The country has strived to promote the integrated reform of institutions and mechanisms related to these areas in order to boost innovation.

    According to an official with the Office of the State Council Academic Degrees Committee, the guidelines emphasize not only the ability of engineering doctoral students to independently engage in professional practice but also the importance of innovation and diversity.

    Experts believe the newly unveiled guidelines underscore the training focus and standards of professional degrees, emphasizing practice-based innovation capabilities.

    The regulation will apply to eight categories of professional degrees, including electronic information, mechanical engineering, materials and chemicals, and energy and power engineering.

    MIL OSI China News

  • MIL-OSI China: China, Canada to increase direct flights to satisfy travel, trade demands

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

    BEIJING, Oct. 30 — China and Canada will increase direct flights to meet demands for travel and trade between the two countries, the Civil Aviation Administration of China (CAAC) said Wednesday.

    Air Canada plans to increase the frequency of its weekly round-trip flights from Vancouver to Shanghai from the current four to seven from Dec. 7 onwards, according to the CAAC.

    Furthermore, Air Canada will resume the operation of its route from Vancouver to Beijing from Jan. 15, 2025 — offering seven round-trip flights per week.

    Meanwhile, Chinese airlines are also expediting their application process for additional flights.

    The surge in direct flights between China and Canada will help satisfy personnel exchange and economic and trade demands, and promote the further recovery of their shared air transport market, the CAAC said.

    MIL OSI China News

  • MIL-OSI Asia-Pac: Health chief joins medical conference

    Source: Hong Kong Information Services

    Secretary for Health Prof Lo Chung-mau led a delegation to attend the 2024 Guangdong-Hong Kong-Macao Greater Bay Area Medical Products Administration Conference in Zhuhai today.

    During the conference, he introduced the latest initiatives of developing Hong Kong into an international health and medical innovation hub as put forth in the 2024 Policy Address.

    The conference is co-organised by the Guangdong Provincial Medical Products Administration, the Department of Health of the Hong Kong Special Administrative Region Government and the Pharmaceutical Administration Bureau of the Macao SAR Government.

    It serves as a platform for Guangdong, Hong Kong and Macau to share their work experience in drug regulation, enhance the work mechanism for collaboration on drug and medical device regulation in the bay area, and foster the innovation development of drug and medical device regulation in the region.

    National Medical Products Administration Deputy Commissioner Zhao Junning also attended the conference.

    During the conference, representatives from Guangdong, Hong Kong and Macau exchanged views on the current situation of regulation over drugs and medical devices in the three places, as well as the mechanism for regulatory collaborations on drugs and medical devices in the bay area.

    They also covered bay area standards for Chinese medicines, in addition to the feasibility of streamlining the registration and approval procedures for Hong Kong and Macau-registered traditional proprietary Chinese medicines for oral use for sale on the Mainland, and had an in-depth discussion on the way forward.

    Prof Lo updated the conference attendees on the latest developments of Hong Kong’s healthcare policies put forward in the 2024 Policy Address.

    These included complementing technological innovation with institutional innovation through expediting the reform of the approval mechanism for drugs and medical devices, strengthening biomedical technology research and development and translation, and promoting the internationalisation of Chinese medicines.

    Prof Lo said the Hong Kong SAR Government is determined to develop Hong Kong into an international health and medical innovation hub, and expedite the provision of advanced diagnostic and treatment services to patients by leveraging the advantages of “one country, two systems” and Hong Kong’s healthcare professional system.

    He also noted that Hong Kong will actively integrate into the national development by dovetailing with the national initiative of fostering new quality productive forces in biomedical technology as set out in the Resolution of the Communist Party of China Central Committee on Further Deepening Reform Comprehensively to Advance Chinese Modernization and the Development Plan for Shenzhen Park of Hetao Shenzhen-Hong Kong Science & Technology Innovation Co-operation Zone.

    “The Hong Kong SAR Government will enhance Hong Kong’s clinical trial capability and facilitate the translation of innovative biomedical research results into clinical applications by rendering firm support to innovation and application of advanced biomedical technology, with a view to attracting the world’s top-notch biomedical enterprises and research and development institutions to set up operations in Hong Kong,” Prof Lo added.

    The delegation will return to Hong Kong this evening.

    MIL OSI Asia Pacific News

  • MIL-OSI USA: Gross Domestic Product, Third Quarter 2024 (Advance Estimate)

    Source: US Bureau of Economic Analysis

    Real gross domestic product (GDP) increased at an annual rate of 2.8 percent in the third quarter of 2024 (table 1), according to the “advance” estimate released by the U.S. Bureau of Economic Analysis. In the second quarter, real GDP increased 3.0 percent.

    The GDP estimate released today is based on source data that are incomplete or subject to further revision by the source agency (refer to “Source Data for the Advance Estimate” on page 2). The “second” estimate for the third quarter, based on more complete source data, will be released on November 27, 2024.

    The increase in real GDP primarily reflected increases in consumer spending, exports, and federal government spending (table 2). Imports, which are a subtraction in the calculation of GDP, increased.

    The increase in consumer spending reflected increases in both goods and services. Within goods, the leading contributors were other nondurable goods (led by prescription drugs) and motor vehicles and parts. Within services, the leading contributors were health care (led by outpatient services) as well as food services and accommodations. The increase in exports primarily reflected an increase in goods (led by capital goods, excluding automotive). The increase in federal government spending was led by defense spending. The increase in imports primarily reflected an increase in goods (led by capital goods, excluding automotive).

    Compared to the second quarter, the deceleration in real GDP in the third quarter primarily reflected a downturn in private inventory investment and a larger decrease in residential fixed investment. These movements were partly offset by accelerations in exports, consumer spending, and federal government spending. Imports accelerated.

    Current‑dollar GDP increased 4.7 percent at an annual rate, or $333.2 billion, in the third quarter to a level of $29.35 trillion. In the second quarter, GDP increased 5.6 percent, or $392.6 billion (tables 1 and 3).

    The price index for gross domestic purchases increased 1.8 percent in the third quarter, compared with an increase of 2.4 percent in the second quarter (table 4). The personal consumption expenditures (PCE) price index increased 1.5 percent, compared with an increase of 2.5 percent. Excluding food and energy prices, the PCE price index increased 2.2 percent, compared with an increase of 2.8 percent.

    Personal Income

    Current-dollar personal income increased $221.3 billion in the third quarter, compared with an increase of $315.7 billion in the second quarter. The increase primarily reflected an increase in compensation (table 8).

    Disposable personal income increased $166.0 billion, or 3.1 percent, in the third quarter, compared with an increase of $260.4 billion, or 5.0 percent, in the second quarter. Real disposable personal income increased 1.6 percent, compared with an increase of 2.4 percent.

    Personal saving was $1.04 trillion in the third quarter, compared with $1.13 trillion in the second quarter. The personal saving rate—personal saving as a percentage of disposable personal income—was 4.8 percent in the third quarter, compared with 5.2 percent in the second quarter.

    Source Data for the Advance Estimate

    The GDP estimate released today is based on source data that are incomplete or subject to further revision by the source agency. Information on the source data and key assumptions used in the advance estimate is provided in a Technical Note and a detailed “Key Source Data and Assumptions” file posted with the release. The “second” estimate for the third quarter, based on more complete data, will be released on November 27, 2024. For information on updates to GDP, refer to the “Additional Information” section that follows.

    *          *          *

    Next release, November 27, 2024, at 8:30 a.m. EST
    Gross Domestic Product (Second Estimate)
    Corporate Profits (Preliminary Estimate)
    Third Quarter 2024

    *          *          *

    Release Dates in 2025
    Estimate  2024 Q4 and
    Year 2024
    2025 Q1 2025 Q2 2025 Q3
    Gross Domestic Product        
    Advance Estimate January 30, 2025 April 30, 2025 July 30, 2025 October 30, 2025
    Second Estimate February 27, 2025 May 29, 2025 August 28, 2025 November 26, 2025
    Third Estimate March 27, 2025 June 26, 2025 September 25, 2025 December 19, 2025
             
    Gross Domestic Product by Industry March 27, 2025 June 26, 2025 September 25, 2025 December 19, 2025
             
    Corporate Profits        
    Preliminary Estimate May 29, 2025 August 28, 2025 November 26, 2025
    Revised Estimate March 27, 2025 June 26, 2025 September 25, 2025 December 19, 2025

    MIL OSI USA News

  • MIL-OSI: ES Bancshares, Inc. Announces Third Quarter 2024 Results; Continues Trend of Net Interest Margin Expansion and Revenue Growth

    Source: GlobeNewswire (MIL-OSI)

    STATEN ISLAND, N.Y., Oct. 30, 2024 (GLOBE NEWSWIRE) — ES Bancshares, Inc. (OTCQX: ESBS) (the “Company”) the holding company for Empire State Bank, (the “Bank”) today reported net income of $582 thousand, or $0.08 per diluted common share, for the quarter ended September 30, 2024, compared to a net income of $158 thousand or $0.02 per diluted common share for the quarter ended June 30, 2024.

    Key Quarterly Financial Data 2024 Highlights
    Performance Metrics 3Q24 2Q24 3Q23   • The Cost of Funds for the three months ended September 30, 2024, improved to 3.02% from 3.17% in the prior linked quarter.

    • For 3 months ended September 30, 2024, the Company’s net interest margin increased to 2.30% compared to 2.21% for the 3 months ended June 30, 2024.

    • The Company repurchased $2million of its sub-debt during the quarter, resulting in a gain on extinguishment.

    • The Company has replaced $56 million of higher-costing wholesale funding with lower cost organic deposits over the nine-months in 2024.

    • Total Revenues for the quarter ended September 30, 2024, totaled $8.6 million increasing for an eighth consecutive quarter.

    Return on average assets (%) 0.36 0.10 0.09  
    Return on average equity (%) 4.98 1.37 1.17  
    Return on average tangible equity (%) 5.04 1.38 1.18  
    Net interest margin (%) 2.30 2.21 2.67  
             
    Income Statement (a) 3Q24 2Q24 3Q23  
    Net interest income $       3,567 $       3,447 $        3,977  
    Non-interest income $          609 $          329 $           256  
    Net income $          582 $          158 $           133  
    Earnings per diluted common share $         0.08 $         0.02 $          0.02  
             
    Balance Sheet (a) 3Q24 2Q24 3Q23  
    Average total loans  $   566,031  $   565,363 $     555,919  
    Average total deposits  $   512,119  $   510,050 $     487,816  
    Book value per share  $         6.85  $         6.74 $           6.79  
    Tangible book value per share  $         6.77  $         6.65 $           6.71  
     
    (a) In thousands except for per share amounts
     

    Phil Guarnieri, Director, and Chief Executive Officer of ES Bancshares, said, “We are pleased to report solid progress this quarter, reflecting our commitment to enhancing the earnings profile of the organization and maintaining disciplined expense management. Despite a challenging and competitive landscape, the Company’s net interest margin increased by nine basis points for the second straight quarter. The Company’s balance sheet and capital position remain robust, and through the open market, we’ve partially paid down our subordinated debt, which will positively impact the margin going forward.”

    Selected Balance Sheet Information:

    September 30, 2024 vs. December 31, 2023

    As of September 30, 2024, total assets were $633.2 million, a decrease of $5.5 million, or 0.9%, as compared to total assets of $638.7 million on December 31, 2023. The decrease can be attributed to a slightly smaller loan portfolio.

    Loans receivable, net of Allowance for Credit Losses on Loans totaled $560.0 million, a decrease of 0.7% from December 31, 2023. As of September 30, 2024, the Allowance for Credit Losses on Loans as a percentage of gross loans was 0.90%.

    Nonperforming assets, which includes nonaccrual loans and foreclosed real estate were $5.1 million or 0.81% of total assets, as of September 30, 2024, increasing from $1.4 million or 0.22% of total assets at December 31, 2023. The ratio of nonaccrual loans to loans receivable was 0.91%, as of September 30, 2024, and 0.22% for December 31, 2023. The increase from December 31, 2023, was primarily due to one Commercial Real Estate loan and one 1-4 family investor loan being placed on non-accrual status. Both loans are deemed to be well collateralized and in total amount to $4.0 million.

    Total liabilities decreased $6.8 million to $586.1 at September 30, 2024 from $592.9 million at December 31, 2023. The decrease can be attributed to repayments of brokered deposits and Federal Home Loan (FHLB) borrowings partially offset by growth in core deposits. The growth in deposits was driven by an increase in interest-bearing, non-maturity deposit accounts.

    As of September 30, 2024, the Bank’s Tier 1 capital leverage ratio, common equity tier 1 capital ratio, Tier 1 capital ratio and total capital ratios were 9.18%, 13.67%, 13.67% and 14.92%, respectively, all in excess of the ratios required to be deemed “well-capitalized.” During the third quarter 2024 the Company did not repurchase shares under its stock repurchase program. Book value per common share was $6.85 at September 30, 2024 compared to $6.83 at December 31, 2023. Tangible common book value per share (which represents common equity less goodwill, divided by the number of shares outstanding) was $6.77 at September 30, 2024 compared to $6.74 at December 31, 2023.

    Financial Performance Overview:

    Three Months Ended September 30, 2024, vs. June 30, 2024

    For the three months ended September 30, 2024, the Company net income totaled $582 thousand compared to a net income of $158 thousand for the three months ended June 30, 2024. The improvement can be attributed to an expanded margin and increased non-interest income quarter over quarter.

    Net interest income for the three months ended September 30, 2024, increased $120 thousand, to $3.6 million from $3.4 million at three months ended June 30, 2024. The Company’s net interest margin widened by nine basis points to 2.30% for the three months ended September 30, 2024, as compared to 2.21% for the three months ended June 30, 2024. The increase in margin can be attributed to a reduction in the Company’s average cost for its Interest-bearing liabilities.

    There was a reversal for credit losses of $38 thousand for the three months ended September 30, 2024, compared to a $9 thousand provision for credit losses taken for the three months ended June 30, 2024.

    Non-interest income increased $280 thousand, to $609 thousand for the three months ended September 30, 2024, compared with non-interest income of $329 thousand for the three months ended June 30, 2024. The majority of the increase can be attributed to a $245 thousand gain on extinguishment of the Company’s subordinated debt.

    Non-interest expenses totaled $3.4 million for the three months ended September 30, 2024, compared to $3.5 million for the three months ended June 30, 2024. The largest fluctuations quarter over quarter pertain to a 31% reduction in Professional fees, which decreased $70 thousand to a more normalized level during the quarter ended September 30, 2024.

    Nine months ended September 30, 2024 vs. September 30, 2023

    For the nine months ended September 30, 2024, net income totaled $637 thousand in comparison to $1.4 million for the nine months ended September 30, 2023. The decrease can mainly be attributed to higher costs paid on deposits which increased $5.0 million.

    Net interest income for the nine months ended September 30, 2024, decreased 18% or $2.2 million, to $10.2 million from $12.4 million at September 30, 2023. The decrease can be attributed to increased interest expense for deposits, partially offset by increased interest income earned on the loan portfolio.

    Provision for credit losses totaled $10 thousand for the nine months ended September 30, 2024, compared to a $103 thousand provision for the nine months ended September 30, 2023.

    Non-interest income totaled $1.2 million for the nine months ended September 30, 2024, compared with noninterest income of $758 thousand for the nine months ended September 30, 2023. The increase can be attributed to the gain recorded on extinguishment of sub-debt which is partially offset by a decrease in gains recorded from loan sales period over period.

    Operating expenses totaled $10.4 million for the nine months ended September 30, 2024, compared to $11.3 million for the nine months ended September 30, 2023, or a decrease of 8.1%. The decrease in non-interest expense can be attributed to initiatives taking effect from the cost-cutting program launched in 2024.

    About ES Bancshares Inc.
    ES Bancshares, Inc. (the “Company”) is incorporated under Maryland law and serves as the holding company for Empire State Bank (the “Bank”). The Company is subject to regulation by the Board of Governors of the Federal Reserve System while the Bank is primarily subject to regulation and supervision by the New York State Department of Financial Services. Currently, the Company does not transact any material business other than through the Bank, its subsidiary.

    The Bank was organized under federal law in 2004 as a national bank regulated by the Office of the Comptroller of the Currency. The Bank’s deposits are insured up to legal limits by the FDIC. In March 2009, the Bank converted its charter to a New York State commercial bank charter. The Bank’s principal business is attracting commercial and retail deposits in New York and investing those deposits primarily in loans, consisting of commercial real estate loans, and other commercial loans including SBA and mortgage loans secured by one-to-four-family residences. In addition, the Bank invests in mortgage-backed securities, securities issued by the U.S. Government and agencies thereof, corporate securities and other investments permitted by applicable law and regulations.

    We operate from our five Banking Center locations, a Loan Production Office and our Corporate Headquarters located in Staten Island, New York. The Company’s website address is www.esbna.com. The Company’s annual report, quarterly earnings releases and all press releases are available free of charge through its website, as soon as reasonably practicable.

    Forward-Looking Statements

    This release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements contained in this release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as “may”, “will”, “expect”, “believe”, “anticipate”, “estimate” or “continue” or comparable terminology, are intended to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties, and actual results may differ materially depending on a variety of factors, many of which are not within ES Bancshares, Inc’s. control. The forward-looking statements included in this release are made only as of the date of this release. We have no intention, and do not assume any obligation, to update these forward-looking statements.

    Investor Contact:
    Peggy Edwards, Corporate Secretary
    (845) 451-7825

    ES Bancshares, Inc.  
    Consolidated Statements of Financial Condition  
    (in thousands)  
        September 30, December 31,   September 30,  
    2024  2023  2023   
          |—-(unaudited)—-|     |—-(unaudited)—-|  
    Assets            
    Cash and cash equivalents $ 25,436   32,728     29,439    
    Securities, net   22,595   15,220     15,143    
    Loans receivable, net:            
         Real estate mortgage loans   545,445   551,250     543,870    
         Commercial and Lines of Credit   14,729   12,823     13,950    
         Home Equity and Consumer Loans 709   700     704    
         Deferred costs   4,210   4,233     4,362    
         Allowance for Loan Credit Losses (5,100 ) (5,086 )   (5,028 )  
              Total loans receivable, net   559,993   563,920     557,858    
    Accrued interest receivable   2,670   2,625     2,533    
    Investment in restricted stock, at cost   4,342   5,191     5,782    
    Goodwill   581   581     581    
    Bank premises and equipment, net   5,050   5,600     5,608    
    Repossessed assets         164    
    Right of use lease assets   6,109   6,415     6,625    
    Bank Owned Life Insurance   5,450   5,341     5,305    
    Other Assets   1,014   1,129     1,278    
         Total Assets $ 633,240   638,750     630,316    
                 
    Liabilities & Stockholders’ Equity            
    Non-Interest-Bearing Deposits   97,867   107,849     125,562    
    Interest-Bearing Deposits   389,340   329,695     302,509    
    Brokered Deposits   20,773   56,581     42,873    
         Total Deposits   507,980   494,125     470,944    
    Bond Issue, net of costs   11,780   13,708     13,701    
    Borrowed Money   50,267   70,805     83,980    
    Lease Liability   6,382   6,672     6,877    
    Other Liabilities   9,710   7,578     9,208    
         Total Liabilities   586,119   592,888     584,710    
    Stockholders’ equity   47,121   45,862     45,606    
         Total liabilities and stockholders’ equity $ 633,240   638,750     630,316    
        
      ES Bancshares, Inc.
      Consolidated Statements of Income
      (in thousands)
                   
      Three Months Ended   Nine Months Ended
      September 30,
    2024
    June 30,
    2024
      September 30,
    2023
      September 30,
    2024
    September 30,
    2023
      |————–(unaudited)————–|   |—-(unaudited)—-|
    Interest income              
    Loans $ 7,315   $ 7,345   $ 6,716   $ 21,868 $ 19,284
    Securities   218     121     111     454   336
    Other interest-earning assets   428     561     319     1,252   1,140
         Total Interest Income   7,961     8,027     7,146     23,574   20,760
    Interest expense              
    Deposits   3,674     3,837     2,459     11,096   6,107
    Borrowings   720     743     710     2,261   2,220
         Total Interest Expense   4,394     4,580     3,169     13,357   8,327
              Net Interest Income   3,567     3,447     3,977     10,217   12,433
    (Rev)Prov for Credit Losses   (38 )   9     86     10   103
         Net Interest Income after (Rev)Prov for Credit Losses   3,605     3,438     3,891     10,207   12,330
    Non-interest income              
    Service charges and fees   264     200     205     636   508
    Gain on loan sales           12     1   138
    Gain on extinguishment of Sub-debt   245             245  
    Other   100     129     39     271   112
         Total non-interest income   609     329     256     1,153   758
    Non-interest expenses              
    Compensation and benefits   1,719     1,728     1,856     5,168   5,664
    Occupancy and equipment   618     605     729     1,891   2,010
    Data processing service fees   315     317     397     958   1,039
    Professional fees   155     225     315     561   747
    FDIC & NYS Banking Assessments   100     99     71     296   183
    Advertising   84     85     107     244   305
    Insurance   55     46     54     151   140
    Other   365     401     446     1,103   1,198
         Total non-interest expense   3,411     3,506     3,975     10,372   11,286
              Income prior to tax expense   803     261     172     988   1,802
    Income taxes   221     103     39     351   414
              Net Income $ 582   $ 158   $ 133   $ 637 $ 1,388
                   
                       
      ES Bancshares, Inc.
      Average Balance Sheet Data
      For the Three Months Ended (dollars in thousands)
      September 30, 2024 June 30, 2024 September 30, 2023
      Avg Bal Interest Average Avg Bal Interest Average Avg Bal Interest Average
      Rolling Rolling Rolling Rolling Rolling Rolling
    Assets  3 Mos.  3 Mos. Yield/Cost  3 Mos.  3 Mos. Yield/Cost  3 Mos.  3 Mos. Yield/Cost
    Interest-earning assets:                  
        Loans receivable $ 566,031 $ 7,315 5.17 % $ 565,363 $ 7,345 5.20 % $ 555,919 $ 6,716 4.83 %
        Investment securities   22,480   218 3.87 %   15,513   121 3.13 %   16,151   111 2.75 %
        Other interest-earning assets   31,656   428 5.29 %   41,652   561 5.33 %   24,532   319 5.12 %
           Total interest-earning assets   620,167   7,961 5.13 %   622,528   8,027 5.16 %   596,602   7,146 4.79 %
    Non-interest earning assets   17,919       16,398       17,371    
           Total assets $ 638,086     $ 638,926     $ 613,973    
    Liabilities and Stockholders’ Equity                  
    Interest-bearing liabilities:                  
        Interest-bearing checking $ 33,512 $ 55 0.65 % $ 36,692 $ 71 0.77 % $ 29,162 $ 28 0.38 %
        Savings accounts   200,248   1,728 3.42 %   175,686   1,629 3.72 %   121,849   536 1.75 %
        Certificates of deposit   173,577   1,891 4.32 %   194,806   2,137 4.40 %   212,094   1,895 3.54 %
           Total interest-bearing deposits   407,337   3,674 3.58 %   407,184   3,837 3.78 %   363,105   2,459 2.69 %
        Borrowings   52,984   519 3.89 %   55,510   522 3.77 %   51,557   488 3.76 %
        Subordinated debenture   12,388   201 6.44 %   13,726   221 6.46 %   13,695   222 6.41 %
           Total interest-bearing liabilities   472,709   4,394 3.69 %   476,420   4,580 3.86 %   428,357   3,169 2.93 %
    Non-interest-bearing demand deposits   104,782       102,866       124,711    
    Other liabilities   13,842       13,429       15,348    
           Total non-interest-bearing liabilities   118,624       116,295       140,059    
    Stockholders’ equity   46,753       46,211       45,557    
           Total liabilities and stockholders’ equity $ 638,086     $ 638,926     $ 613,973    
    Net interest income   $ 3,567     $ 3,447     $ 3,977  
    Average interest rate spread     1.45 %     1.30 %     1.86 %
    Net interest margin     2.30 %     2.21 %     2.67 %
                       
                       
                   
    Five Quarter
    Performance Ratio Highlights
    Three Months Ended
    September 30,
    2024
    June 30,
    2024
    March 31,
    2024
    December 31,
    2023
    September 30,
    2023
     
    Performance Ratios (%) – annualized            
      Return(loss) on Average Assets   0.36   0.10    (0.07 )   0.05   0.09  
      Return(loss) on Average Equity   4.98   1.37    (0.90 )   0.73   1.17  
      Return(loss) on Average Tangible Equity   5.04   1.38    (0.91 )   0.74   1.18  
      Efficiency Ratio   81.70   92.86   101.08     99.31   93.89  
    Yields / Costs (%)            
      Average Yield – Interest Earning Assets   5.13   5.16   5.03     4.92   4.79  
      Average Cost – Interest-bearing Liabilities   3.69   3.86   3.82     3.55   2.93  
      Net Interest Margin   2.30   2.21   2.12     2.28   2.67  
    Capital Ratios (%)            
      Equity / Assets   7.44   7.12   7.34     7.18   7.24  
      Tangible Equity / Assets   7.36   7.03   7.26     7.09   7.15  
      Tier I leverage ratio (a)   9.18   9.30   9.52     9.45   9.54  
      Common equity Tier I capital ratio (a)   13.67   13.81   13.63     13.60   13.47  
      Tier 1 Risk-based capital ratio (a)   13.67   13.81   13.63     13.60   13.47  
      Total Risk-based capital ratio (a)   14.92   15.06   14.88     14.85   14.63  
    Stock Valuation            
      Book Value $ 6.85 $ 6.74 $ 6.75   $ 6.83 $ 6.79  
      Tangible Book Value $ 6.77 $ 6.65 $ 6.67   $ 6.74 $ 6.71  
      Shares Outstanding (b)   6,878   6,884   6,834     6,714   6,714  
    Asset Quality (%)            
      ACL / Total Loans   0.90   0.90   0.89     0.89   0.89  
      Non Performing Loans / Total Loans   0.91   0.22   0.24     0.22   0.25  
      Non Performing Assets / Total Assets   0.81   0.19   0.21     0.22   0.25  
                   
      (a) Ratios at Bank level             (b) Shares information presented in thousands        
                   

    The MIL Network

  • MIL-OSI NGOs: MSF condemns violence against our team in Mali

    Source: Médecins Sans Frontières –

    • An MSF team, along with civilians and community health workers, were attacked on 14 October in the Segou region of Mali.
    • As a result, we had to temporarily suspend our medical activities in the commune of Nampala.
    • Discussions with stakeholders are underway to enable us to resume providing medical care as soon as possible.

    On 14 October, on the outskirts of Nampala in the Segou region of central Mali, a Médecins Sans Frontières (MSF) team and community health workers were violently attacked and robbed by armed men, along with civilians. The men who carried out the attack were conducting regular military operations in the area. Our team was providing care to the community when the incident took place.

    This violence against civilians and humanitarian workers is unacceptable. MSF reiterates that all parties to the conflict must respect civilians, humanitarian staff, health facilities, and patients.

    Following this incident, we had to take the difficult decision to temporarily suspend our medical activities in the Nampala area, depriving communities of essential care. Discussions are underway with all local, regional, and national stakeholders to ensure that such violence does not occur again. This would enable us to resume providing essential care to people as soon as possible, with complete safety for our teams.
     
    MSF has been present in Nampala since 2022 and is currently the only international NGO active in the area. Our staff provide vital free medical care to communities on the outskirts, as well as to people displaced by the many military operations in the area. Years of conflict have led to high health needs in this region, and now the number of cases of malaria is rising, which can be fatal for children under five years old and pregnant women.

    MIL OSI NGO

  • MIL-OSI Global: How does REACH, the EU regulation governing chemical substances, work?

    Source: The Conversation – France – By Johanna Berneron, Toxicologue reglementaire, Agence nationale de sécurité sanitaire de l’alimentation, de l’environnement et du travail (Anses)

    Adopted by the European Union in 2006, the REACH regulation (Registration, Evaluation, Authorisation and Restriction of Chemicals) governs the manufacture and use of chemical substances in Europe. Despite its importance, REACH has often been criticised for being slow and complex. These concerns prompted calls for reform as part of the European Green Deal, though the European Commission ultimately postponed the revision. Various NGOs have called for this reform, and in early 2024, the French National Assembly’s European Affairs Committee reignited the conversation, with a resolution currently under review.

    Nevertheless, REACH remains an ambitious and indispensable regulation that protects human health and the environment from the hazards posed by chemical substances. While it’s not perfect, it represents progress in comparison with previous regulatory frameworks. One notable success is the ban on bisphenol A (BPA), a controversial chemical previously used in baby bottles.

    Understanding the REACH process

    REACH is straightforward if you break down its steps:

    • Substance registration: Manufacturers must submit detailed information on the chemical, toxicological and environmental properties of substances they produce or import. If no data exists, they are required to generate it. Unlike previous regulations and directives, REACH places the burden of proof on companies. To comply with the regulation, companies must identify and adequately manage the risks associated with the substances they manufacture and market in the EU. In particular, they must demonstrate how the substances can be used safely and communicate risk management measures to users.

    • Compliance checks: The European Chemicals Agency (ECHA) ensures that the registration dossiers are complete and meet regulatory requirements. This is known as compliance analysis.

    • Substance evaluation: If concerns arise, a substance undergoes further evaluation to assess risks to human health and the environment. This procedure is conducted by the member states (with ANSES representing France) and enables the authorities to request additional information from industries.

    Member states, including ANSES, carry out these evaluations, focusing on national health priorities. Substances flagged for further assessment are added to the Community Rolling Action Plan (CoRAP), a three-year plan outlining substances to be evaluated by member states.

    If additional safety measures are needed, several outcomes are possible:

    • SVHC identification: Substances of Very High Concern (SVHC) may require authorisation for continued use.

    • Restrictions: Can limit or ban certain uses of a substance.

    • Classification: Hazardous substances may be classified as carcinogenic, toxic to reproduction or in other such categories and must be labelled for these hazardous properties.

    Bisphenol A: a case study

    Bisphenol A (BPA) exemplifies REACH’s impact. In 2017, Germany initiated an evaluation of BPA, resulting in its classification as a reprotoxic substance under the EU’s Classification, Labelling and Packaging (CLP) regulation. BPA was also identified as an SVHC due to its endocrine-disrupting properties, which pose risks to human health and the environment.

    Although these various management measures have faced legal challenges from industry, including through appeals, all have been upheld. They have proven effective, as highlighted by a European Environment Agency (EEA) report showing that BPA concentrations in Europeans’ urine are decreasing, in contrast to other bisphenols.

    The role of ANSES

    ANSES plays a key role in implementing the EU’s REACH regulation, supporting French authorities in managing chemical risks. Among its responsibilities, ANSES can identify a substance as an SVHC, preparing dossiers that can lead to these substances being added to Annex XIV of REACH. Once listed, the substances are restricted, and their use is only allowed if the European Commission specifically authorises it. Such authorisations are granted when it’s proven that the risks are controlled or the socioeconomic benefits outweigh them.

    Before a substance is included in Annex XIV, it must first be identified as an SVHC. This step is aimed at encouraging the gradual replacement of these hazardous chemicals with safer alternatives, protecting both human health and the environment.

    ANSES also prepares restriction dossiers, evaluating the socioeconomic impact of limiting or banning substances that pose unacceptable risks. These restrictions can apply to chemicals in their pure form, in mixtures, or within products.

    Additionally, ANSES produces harmonised classification dossiers for chemicals like carcinogens, mutagens, and reproductive and respiratory sensitizers, for instance. Once included in Annex VI of the CLP regulation, industries must label their products accordingly, alerting users – especially workers – about potential hazards and ensuring proper precautions are taken.

    Room for improvement

    Despite improvements, the REACH regulation still faces significant challenges. Many industries, and particularly smaller companies, struggle to comply due to the high cost of registration. In 2018, the German Federal Institute for Risk Assessment (BfR) reported that 31% of chemical substances produced in or imported into the EU in quantities over 1,000 tonnes per year failed to meet REACH requirements.

    In response, ECHA has enhanced its chemical data management, but industries remain unsatisfied, accusing ECHA of pushing for classifications or requesting new tests without robust toxicological justifications. These requests often aim to address data gaps in industry-provided dossiers while minimising animal testing.

    REACH’s main limitation is its dependence on industry-submitted data to evaluate chemical risks. These data can be incomplete, outdated or missing, forcing regulators to request additional information, which delays risk assessments and decision-making.

    Consequently, the evaluation of substances and review of authorisation requests are often slow, delaying the entry of safer, innovative chemicals. Many potentially hazardous substances remain on the market without adequate regulation, a persistent concern from a public health standpoint.

    A revision of REACH is expected to streamline processes, improve efficiency and impose stricter penalties on non-compliant industries, potentially revoking their REACH registration numbers. This would prevent the sale of substances without the necessary data.

    These changes align with the European Commission’s strategy for a toxic-free environment under the European Green Deal. However, there is concern that lobbying could undermine this vital regulation, a global standard in chemical safety.

    Despite its complexities, REACH remains a critical safeguard for European public health and environmental protection.

    Johanna Berneron ne travaille pas, ne conseille pas, ne possède pas de parts, ne reçoit pas de fonds d’une organisation qui pourrait tirer profit de cet article, et n’a déclaré aucune autre affiliation que son organisme de recherche.

    ref. How does REACH, the EU regulation governing chemical substances, work? – https://theconversation.com/how-does-reach-the-eu-regulation-governing-chemical-substances-work-241931

    MIL OSI – Global Reports

  • MIL-OSI Global: Abortion and marijuana ballot measures may bring out Florida Democrats, but the GOP has 1M more active voters in the Sunshine State

    Source: The Conversation – USA – By Daniel A. Smith, Professor of Political Science, University of Florida

    Could ballot initiatives bring more Democrats to the polls in Florida? Jeffrey Greenberg/Universal Images Group via Getty Images

    The number of voters registered as Democrats has tumbled in recent years in Florida, effectively removing the Sunshine State as a battleground and placing it firmly in the red column.

    At least that’s the dominant narrative found in many media outlets. And it is true that Republican Donald Trump won the state in both 2016 and 2020.

    Still, Nikki Fried, the Florida Democratic party chair, thinks Florida Democrats are making a “clear resurgence.”

    Buoyed by broad support for two statewide initiatives on the ballot – the legalization of recreational marijuana and the establishment of a constitutional right to abortion up to viability – Fried is predicting robust turnout of Democratic voters this November despite concerns hurricanes Helene and Milton may suppress turnout.

    Fried suggests that Democratic presidential nominee Vice President Kamala Harris and Democratic U.S. Senate nominee Debbie Mucarsel-Powell will benefit from the two hot issues on the ballot. A ban on most abortions after six weeks went into effect in Florida on May 1, 2024, with the state Supreme Court at the same time deciding to put the issue to voters.

    The marijuana ballot measure looks likely to pass, while support for the abortion access measure is more uncertain. But the point is that these are the types of issues that bring Democrats – and unaffiliated voters – out to the polls.

    I’ve written extensively on direct democracy and Florida politics. My research shows how ballot measures can have what I call “educative effects,” not only bolstering turnout but also priming voters to choose candidates who support the same initiatives they do.

    This goes a long way to explain Republican Gov. Ron DeSantis’ efforts to thwart both measures, going so far as to use taxpayers’ dollars to oppose the abortion amendment.

    Florida’s abortion amendment needs to pass with 60% of the vote, so turnout is key.
    Rebecca Blackwell/AP Photo

    Active voters

    But Fried and the Democrats face a major hurdle – a widening voter registration gap – as Florida Republicans are quick to point out. Over the past several years, the GOP steadily narrowed the Democratic Party’s lead in voter registrations in the Sunshine State, finally surpassing Democrats’ plurality of active registered voters in 2021.

    Fried thinks the widening gap between registered Republicans and Democrats is a mirage. She claims that the Republican advantage is an artifact of a shift in state law that more aggressively reclassifies voters as being “inactive” if they don’t vote in two general election cycles or keep their information on file with local supervisors of elections.

    There is no question that the law, which went into effect in 2022, has deflated Democratic registration numbers. Here are the stats.

    According to the Florida secretary of state’s website, updated on Oct. 7, 2024, there are more than 1 million more registered Republicans (5,455,480) than Democrats (4,400,561) in Florida, followed by no party affiliation (3,584,982) and those registered with minor parties (404,890). That is, Republicans appear to account for more than 39% of registered voters in the Sunshine State, while Democrats make up less than 32%.

    However, the numbers posted on Florida’s official website, which amount to nearly 13.7 million registered voters, are misleading: They tally only active voters in the state.

    There are more than 2.5 million inactive voters on the rolls as of Aug. 1, 2024, according to my calculation of publicly available raw voter files. This brings the total number of registered voters in Florida to more than 16 million people.

    Inactive and unaffiliated voters

    Inactive registered voters have every right to cast ballots just like active voters. The main difference between the two groups is that inactive voters didn’t vote in 2020 or 2022.

    There are hundreds of thousands more inactive Democrats and unaffiliated voters than Republicans on the rolls. This is likely the result of lackluster campaigns in the state for Democratic presidential candidate Joe Biden in 2020 and for Democratic gubernatorial candidate Charlie Crist in 2022. Uninspired Democrats and unaffiliated voters didn’t show up to the polls, particularly in 2022.

    Currently, according to the publicly available Florida voter rolls, there are over 900,000 inactive Democrats and over 921,000 inactive unaffiliated voters, compared with fewer than 643,000 inactive Republicans. So, while Republicans account for 39% of active voters, they account for only 25% of inactive voters.

    To sharpen the point: 1 in 10 Republicans are currently inactive, whereas nearly 2 in 5 of all registered Democrats and more than 1 in 5 unaffiliated voters in Florida are inactive. These inactive voters tend not to receive the same attention from parties and groups trying to mobilize registered voters to the polls.

    There’s no question that the fortunes of the Florida Democratic Party have tumbled over the past decade. Twelve years ago, just prior to the 2012 general election, Democrats accounted for 40% of all active registered voters. It’s been a sharp decline down to 32%.

    But the difference has not been made up by Republicans. From 2012 to 2024, the share of active voters registered as Republicans increased by only 3 percentage points, from 36% to 39%.

    The biggest increase in the share of active voters over the same period is with unaffiliated voters, whose share jumped 5 percentage points, from less than 21% in 2012 to 26% in 2024. These unaffiliated voters in Florida tend to be younger and Hispanic, many of whom likely have been turned off by the toxic political landscape in the state.

    But back to the November election and Fried’s prognostications.

    Will the two statewide ballot measures – Amendment 3 on recreational marijuana and Amendment 4 on reproductive rights – offset the rise in Republican voter registration in Florida? Is the sizable lead of Republican active voters a mirage, only to disappear as Election Day nears?

    It will come down to turnout and whether inactive Democratic and unaffiliated voters’ support for Amendment 3 and Amendment 4 primes them to back the Democratic ticket.

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

    ref. Abortion and marijuana ballot measures may bring out Florida Democrats, but the GOP has 1M more active voters in the Sunshine State – https://theconversation.com/abortion-and-marijuana-ballot-measures-may-bring-out-florida-democrats-but-the-gop-has-1m-more-active-voters-in-the-sunshine-state-239538

    MIL OSI – Global Reports

  • MIL-OSI Global: Misinformation is more than just bad facts: How and why people spread rumors is key to understanding how false information travels and takes root

    Source: The Conversation – USA – By Kate Starbird, Professor of Human Centered Design & Engineering, University of Washington

    Spreading rumors is problematic but understandable. H. Armstrong Roberts/ClassicStock/Archive Photos via Getty Images

    On Sept. 20, 2024, a newspaper in Montana reported an issue with ballots provided to overseas voters registered in the state: Kamala Harris was not on the ballot. Election officials were able to quickly remedy the problem but not before accusations began to spread online, primarily among Democrats, that the Republican secretary of state had purposefully left Harris off the ballot.

    This false rumor emerged from a common pattern: Some people view evidence such as good-faith errors in election administration through a mindset of elections being untrustworthy or “rigged,” leading them to misinterpret that evidence.

    As the U.S. approaches another high-stakes and contentious election, concerns about the pervasive spread of falsehoods about election integrity are again front of mind. Some election experts worry that false claims may be mobilized – as they were in 2020 – into efforts to contest the election through tactics such as lawsuits, protests, disruptions to vote-counting and pressure on election officials to not certify the election.

    Our team at the University of Washington has studied online rumors and misinformation for more than a decade. Since 2020, we have focused on rapid analysis of falsehoods about U.S. election administration, from sincere confusion about when and where to vote to intentional efforts to sow distrust in the process. Our motivations are to help quickly identify emerging rumors about election administration and analyze the dynamics of how these rumors take shape and spread online.

    Through the course of this research we have learned that despite all the discussion about misinformation being a problem of bad facts, most misleading election rumors stem not from false or manipulated evidence but from misinterpretations and mischaracterizations. In other words, the problem is not just about bad facts but also faulty frames, or the mental structures people rely on to interpret those facts.

    Misinformation may not be the best label for addressing the problem – it’s more an issue of how people make sense of the world, how that sensemaking process is shaped by social, political and informational dynamics, and how it begets rumors that can lead people to a false understanding of events.

    Rumors – not misinformation

    There is a long history of research on rumors going back to World War II and earlier. From this perspective, rumors are unverified stories, spreading through informal channels that serve informational, psychological and social purposes. We are applying this knowledge to the study of online falsehoods.

    Though many rumors are false, some turn out to be true or partially true. Even when false, rumors can contain useful indications of real confusions or fears within a community.

    Rumors can be seen as a natural byproduct of collective sensemaking – that is, efforts by groups of well-meaning people to make sense of uncertain and ambiguous information during dynamic events. But rumors can also emerge from propaganda and disinformation campaigns that lead people to misinterpret or mischaracterize their own and others’ experiences.

    University of Washington’s Kate Starbird explains rumors as collective sensemaking.

    Evidence, frames and (mis)interpretations

    Prior research describes collective sensemaking as a process of interactions between evidence and frames. Evidence includes the things people see, read and hear in the world. Frames are mental schema that shape how people interpret that evidence.

    The relationship between evidence and frames flows in two directions. When people encounter novel events or new evidence, they try to select the best frame from their mental filing cabinets. The selected frame then determines what evidence they focus on and what evidence they exclude in their interpretations. This evidence-frame view of collective sensemaking can help researchers understand rumors and disinformation.

    Everyone has their own ways of interpreting events based on their unique experiences. But your frames are not yours alone. Frames are shaped, sometimes intentionally, by information from media, political leaders, communities, colleagues, friends, neighbors and family. Framing – the process of using, building, reinforcing, adapting, challenging and updating frames – can be a deliberate strategy of political communication.

    Frames play a role in generating rumors, shaping how people interpret emerging events and novel evidence. False rumors occur when sensemaking goes awry, often due to people focusing on the wrong piece of evidence or applying the wrong frame. And disinformation, from this perspective, is the intentional manipulation of the sensemaking process, either by introducing false evidence or distorting the frames through which people interpret that evidence.

    In 2020, we saw these dynamics at work in a rumor about Sharpie pens in Arizona. In the lead-up to the election, President Donald Trump and his allies repeatedly alleged that the election would be rigged – setting a powerful frame for his followers. When voters noted that the Sharpie pens provided by election officials were bleeding through their ballots, many interpreted their experiences through the frame of a “rigged election” and became concerned that their ballots would not be counted.

    A Maricopa County, Arizona, election worker counts ballots in the 2020 election as false rumors that Sharpie pens were ruining ballots spread online.
    AP Photo/Matt York

    Some people shared those experiences online, where they were soon amplified and given meaning by others, including online influencers. Concerns and suspicions grew. Soon, members of Trump’s family were repeating false claims that the bleed-through was systematically disenfranchising Republican voters. The effect was circular and mutually reinforcing. The strategic frame inspired misinterpretations of evidence – real bleed-through falsely seen as affecting ballot counting – that were shared and amplified, strengthening the frame.

    Social media sensemaking

    Collective sensemaking is increasingly taking place online, where it is profoundly shaped by social media platforms, from features such as repost and like buttons to algorithmic recommendations to the connections between accounts.

    Not so long ago, many people hoped that the internet would democratize information flows by removing the historical gatekeepers of information and disrupting their ability to set the agenda – and the frames – of conversation. But the gatekeepers have not been erased; they have been replaced. A group of newsbrokering influencers have taken their place, in part by gaming the ways online systems manipulate attention.

    Many of these influencers work by systematically seeking out and amplifying content that aligns with prevailing political frames set by elites in politics and media. This gives creators the incentive to produce content that resonates with those frames, because that content tends to be rewarded with attention, the primary commodity of social media.

    These dynamics were at work in February 2024, when an aspiring creator produced a man-on-the-street video interviewing migrants to the U.S. that was selectively edited and captioned to falsely claim to show undocumented migrants planning to vote illegally in U.S. elections. This resonated with two prominent frames: the same rigged-election frame from 2020 and another that framed immigration as harmful to the U.S.

    The video was shared across multiple platforms and exploded in views after being amplified by a series of accounts with large followings on X, formerly Twitter. X CEO Elon Musk commented with an exclamation point on one post with the embedded video. The creator soon found himself on Fox News. He currently has hundreds of thousands of followers on TikTok and Instagram and continues to produce similar content.

    Interactions between influencers and online audiences result in content that fits strategic frames. Emerging events provide new evidence that people can twist to fit prevailing frames, both intentionally and unintentionally. Rumors are the byproducts of this process, and online attention dynamics fuel their spread.

    Collective sensemaking and election 2024

    Heading into the 2024 election, false and misleading claims about election integrity remain widespread. Our team has tracked more than 100 distinct rumors since the beginning of September. The machinery for quickly converting perceived evidence from elections into widely shared rumors and conspiracy theories is increasingly well oiled.

    Experts discuss election integrity and efforts to undermine voter confidence.

    One concerning development is an increase in so-called election integrity organizations that seek to recruit volunteers who share the rigged-election frame. The groups aim to provide volunteers with tools to streamline the collection and amplification of evidence to support the rigged-election frame.

    One worry is that these volunteers may misinterpret what they see and hear on Election Day, generating additional rumors and false claims about election integrity that reinforce that increasingly distorted frame. Another is that these false claims will feed lawsuits and other attempts to contest election results.

    However, we hope that by shedding light on some of these dynamics, we can help researchers, journalists, election officials and other decision-makers better diagnose and respond to rumors about election integrity in this cycle. Most importantly, we believe that this collective sensemaking lens can help us all to both empathize with well-meaning people who get caught up in sharing false rumors and see how propagandists manipulate these processes for their gain.

    Kate Starbird receives funding from the National Science Foundation, Knight Foundation, Hewlett Foundation, and Craig Newmark Philanthropies.

    Stephen Prochaska has received funding from the National Science Foundation, Knight Foundation, and Hewlett Foundation.

    ref. Misinformation is more than just bad facts: How and why people spread rumors is key to understanding how false information travels and takes root – https://theconversation.com/misinformation-is-more-than-just-bad-facts-how-and-why-people-spread-rumors-is-key-to-understanding-how-false-information-travels-and-takes-root-241748

    MIL OSI – Global Reports

  • MIL-OSI Video: President Biden and the First Lady Host Halloween at the White House

    Source: United States of America – The White House (video statements)

    President Biden and the First Lady host local area students, military-connected children, and neighborhood families for trick-or-treating.

    The White House

    https://www.youtube.com/watch?v=nhw1vbyUaoU

    MIL OSI Video

  • MIL-OSI Video: Department of State Daily Press Briefing – October 30, 2024 – 1:15 PM

    Source: United States of America – Department of State (video statements)

    Spokesperson Matthew Miller leads the Department Press Briefing, at the Department of State, on October 30, 2024

    ———-
    Under the leadership of the President and Secretary of State, the U.S. Department of State leads America’s foreign policy through diplomacy, advocacy, and assistance by advancing the interests of the American people, their safety and economic prosperity. On behalf of the American people we promote and demonstrate democratic values and advance a free, peaceful, and prosperous world.

    The Secretary of State, appointed by the President with the advice and consent of the Senate, is the President’s chief foreign affairs adviser. The Secretary carries out the President’s foreign policies through the State Department, which includes the Foreign Service, Civil Service and U.S. Agency for International Development.

    Get updates from the U.S. Department of State at www.state.gov and on social media!
    Facebook: https://www.facebook.com/statedept
    Twitter: https://twitter.com/StateDept
    Instagram: https://www.instagram.com/statedept
    Flickr: https://flickr.com/photos/statephotos/

    Subscribe to the State Department Blog: https://www.state.gov/blogs
    Watch on-demand State Department videos: https://video.state.gov/
    Subscribe to The Week at State e-newsletter: http://ow.ly/diiN30ro7Cw

    State Department website: https://www.state.gov/
    Careers website: https://careers.state.gov/
    White House website: https://www.whitehouse.gov/
    Terms of Use: https://state.gov/tou

    #StateDepartment #DepartmentofState #Diplomacy

    https://www.youtube.com/watch?v=GGF6n5qft9o

    MIL OSI Video

  • MIL-OSI Video: Secret Training! U.S. Army

    Source: US Army (video statements)

    About the U.S. Army:

    The Army Mission – our purpose – remains constant: To deploy, fight and win our nation’s wars by providing ready, prompt & sustained land dominance by Army forces across the full spectrum of conflict as part of the joint force.

    Interested in joining the U.S. Army?
    Visit: spr.ly/6001igl5L

    Connect with the U.S. Army online:
    Web: https://www.army.mil
    Facebook: https://www.facebook.com/USarmy/
    X: https://www.twitter.com/USArmy
    Instagram: https://www.instagram.com/usarmy/
    LinkedIn: https://www.linkedin.com/company/us-army
    #USArmy #Soldiers #Military #Shorts #VCorps

    https://www.youtube.com/watch?v=z6tNID8xUbQ

    MIL OSI Video

  • MIL-OSI United Kingdom: Sharing the stories and lessons of witch-hunting in Scotland The University of Aberdeen is introducing people around the world to the history of witch-hunting and the witch trials in Scotland.

    Source: University of Aberdeen

    North Berwick witchesThe University of Aberdeen is introducing people around the world to the history of witch-hunting and the witch trials in Scotland.
    With wide-brimmed hats, black cats, broomsticks and crooked noses, witches in popular culture are instantly recognisable a staple of Halloween events.
    But in previous centuries changes in attitudes and approaches to magic led to suspicion and accusations which spread through Scottish communities as paranoid hunts sought to root out those thought to derive powers from the Devil.
    The University has created an online short course ‘Scottish Witch-Hunting and the Rise of a Protestant Culture 1590-1690’ which provides an opportunity for anyone with a professional or personal interest in the history of Scottish witchcraft to take an in-depth look at Scottish attitudes and approaches to magic, the preternatural and the supernatural.
    Professor Bill Naphy, Emeritus Professor of History, said: “Witches may been seen by guisers today as a bit of fun but in the middle of the 16th century, they were seen as conspirators trying to destroy society.
    “This wasn’t unique to Scotland but the ripples of panic it caused were far reaching with Scotland’s execution rate per head of population about five times the European average.
    “It means this is a really important area for study, not just in understanding about witchcraft and the brutal investigations, trials and often executions of those accused but in piecing together the wider issues and changes facing society at this time.”
    The course explores the involvement of King James VI and I who in 1591 became convinced that a group of North Berwick witches tried to kill him and his wife when their vessel was caught in storms as they attempted to travel to Denmark.
    As a result he becomes the only reigning monarch to ever serve as a judge in a witch trial and writes a book about witchcraft titled ‘Daemonologie’. This originally circulates in manuscript form and Professor Naphy says it was ‘clearly aimed at his sons so they will know when they become powerful how to find witches’ but is published widely following a panic which begins in Aberdeen in January 1597.
    Professor Naphy explains: “The North Berwick witch trials of 1591 are notorious because of the sheer number of ‘witches’, widely agreed to be around 70 most of whom were women, executed in one hunt in a small Scottish town.
    “But the lesser-known Aberdeen witch hunt in 1597 demonstrates how far panic swept across Scottish society, even prompting the demand for the publication of the King’s book.
    “City leaders in Aberdeen became convinced that they had such a serious problem on their hands that they were able to secure a five-year commission to find and try all witches in the north-east.
    “Once the idea took root that there was a witch plot or ‘cell’ the threshold for evidence necessary to prove guilt decreased and investigators become increasingly concerned with finding wider connections.
    “In Aberdeen this saw accusations levied against the Leys family and at his trail Thomas Leys confessed, undoubtedly under coercion, to having led a coven of witches in a dance at the fish cross the previous Halloween – a satanic party right in front of the tollbooth.”
    This soon led to extensive witch hunts across not only the north-east but many parts of Scotland.
    “Thomas implicated a number of women that took the commissioners from Aberdeen to the tiny village of Lumphanan in their hunt for conspiratorial cells,” Professor Naphy added.
    “In total 24 ‘witches’ were executed in Aberdeen and Aberdeenshire, including a significant proportion of the adult female population of Lumphanan and this little known 1597 hunt triggered panic across many regions of Scotland that resulted in many more deaths through execution.
    “This is an important period to highlight dangers of a moral panic and study of these events serves as a timely reminder that while today witches are seen as part of the fun of Halloween, we should not forget brutal treatment and execution of those accused of so-called crimes of dark magic.”

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Derry Halloween showcased on ITV’s This Morning

    Source: Northern Ireland – City of Derry

    Derry Halloween showcased on ITV’s This Morning

    30 October 2024

    Up to 900,000 viewers across GB will see the Derry Halloween festivities today (30th October) on ITV’s daytime TV show This Morning, with filming supported by Tourism Ireland.

    The segment is fronted by celebrity chef Donal Skehan, who travels along the Awakening the Walled City Trail, bringing to life the rich folklore, history, and heritage of the city’s Halloween celebrations. The segment will include spooky stories with Charlene McCrossan from McCrossan Walking Tours, an interview with Jacqueline Whoriskey, the Festival and Events Manager with Derry City and Strabane District Council, and a special appearance from the city’s very own Winifred the Witch!

     

    Alice Mansergh, Chief Executive of Tourism Ireland, said: “Tourism Ireland was delighted to work with Donal Skehan, bringing the magic of Derry Halloween to hundreds of thousands of GB viewers on ITV’s This Morning. Halloween is one of the world’s favourite festivals but not everyone knows that it originated on these shores around 2,000 years ago. At Tourism Ireland, we’re excited to invite visitors to experience Halloween where it all started, taking in our world-class festivals, spectacular scenery and warm hospitality.” 

    A healthy seasonal spread of overseas tourism business supports quality jobs in tourism, by creating a longer or year-round season. Tourism Ireland markets Halloween as an iconic reason to visit in autumn. Its ‘Home of Halloween’ multi-market campaign, celebrating the island of Ireland as the birthplace of Halloween around 2,000 years ago, is under way. The organisation’s aim is to raise awareness at scale and target consideration and bookings for this autumn, with Derry Halloween (the largest festival of its type in Europe), in particular, adding to the appeal of autumn scenery and heritage. Since it was launched, the campaign video has achieved results reflecting a strong audience response: 14 million views on English language YouTube; and over 100 million views across languages and channels (TV, cinema, online). Among those who’ve seen the campaign, there is now twice the level of recognition that Halloween began in Ireland and seven out of ten said they’re more likely to want to visit.

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Developers sought for next phase of house building at Ashton Green

    Source: City of Leicester

    DEVELOPERS are being sought to deliver the next wave of homes on a major new housing development on the edge of Leicester.

    Up to 3,000 new homes are set to built at Ashton Green, near Beaumont Leys, as part of an ambitious housing-led mixed use development scheme led by Leicester City Council.

    Now the city council is inviting developers and housebuilders to bid for the next phases of residential development, which would see up to 525 new homes built on 55-acres of allocated land.

    This will represent the fourth phase of housing development at Ashton Green.

    The first phase saw 100 new houses built by Morris Homes in 2020. A second phase is now under construction, with 130 of the 307 new houses to be built by Tilia Homes now complete and occupied.

    A third phase of house building is expected to get underway next year and would see 440 new dwellings built by Morris Homes.

    It is likely the successful bidder for the fourth phase of residential development will being construction work by late 2026.

    City Mayor Peter Soulsby said: “Ashton Green is an essential part of the city’s commitment to meeting the growing and urgent need for new homes in Leicester over the next ten to fifteen years, and it will make huge contribution to local economic growth.

    “This is an extremely ambitious and complex project and I proud that we are now ready to enter a next phase of development, which will see more than 500 additional new homes built. This would help bring the total number of new homes built or in the process of being built at Ashton Green close to 1,400.”

    Leicester City Council is the principal landowner and promoter of the Ashton Green development, which is a mixed-use urban extension on a 320-acre greenfield site to the north of Leicester. Around 13-acres of land allocated for the Ashton Green development is owned by Diocese of Leicester.

    The major sustainable urban development scheme aims to create a community of up to 3,000 much-needed new homes, along with community and health facilities, employment land and retail.

    Up to 30 per cent of the new homes to be built at Ashton Green will be affordable homes for rent and for shared ownership.

    Interested parties can find out more about the tender process at www.visitleicester.info/invest/sites-properties/ashton-green

    The closing date for submission of bids to tender is Friday 13 December 2024.

    MIL OSI United Kingdom

  • MIL-OSI USA: Friend of the IAM, Trailblazing Chicago Rail Leader Honored with Metra Train Car

    Source: US GOIAM Union

    On Oct. 29, 2024, former Chicago Metra Board Chair Romayne Brown, the first African-American woman to chair the board, was honored with a Metra Train Car dedicated to her tireless efforts as the Metra Board Chair. 

    During her term as chair, Brown helped lead the agency through COVID-19 challenges that became some of the most difficult times in the agency’s history. Brown has more than 31 years of operational and customer service experience at the Chicago Transit Authority (CTA), finishing her career with the agency in 2010 as the vice president of rail operations, which helped her navigate the agency through countless issues. 

    “I have worked with Chair Brown over the years, and she is one of the few people I have met who has always been able to see the power of working with labor,” said IAM Local 498 Chairman David May. “She has always helped the push agency to see labor’s perspective on issues. Chair Brown has always treated the Machinists members with dignity and respect and always found time to walk the shop floors to thank Metra’s unionized workforce for their hard work and dedication to the agency. Local 498 will be forever grateful for her incredible leadership.” 

    Brown was named to the board in 2013 and then held the Vice Chair role from October 2016 to 2020. She held the Metra Board Chair position from 2020 to 2024.

    Share and Follow:

    MIL OSI USA News

  • MIL-OSI Security: Man jailed for 22 years after detectives linked him to violent robbery in Barnet

    Source: United Kingdom London Metropolitan Police

    A man has been sentenced to life imprisonment after a homicide investigation identified him as one of a gang of people who carried out a violent robbery in Barnet.

    During a trial at the Old Bailey, a jury heard the group all travelled to 30-year-old Olsi Kuka’s home address in High Road, N20, shortly before 03:00hrs on 11 May 2022.

    They were split into two Mercedes cars that parked outside before the group forced entry into the flat and attacked Olsi, stabbing him numerous times.

    They then ransacked his flat, searching for drugs and money they believed Olsi had in his property.

    After the men left the flat, police and paramedics were called. Despite the efforts of emergency services, Olsi sadly died a short time later.

    A post-mortem examination concluded that the stab wounds had been caused by ‘at least’ two different knives. There were also four metal ball-bearings found in his scalp consistent with being shot by an air weapon.

    A murder investigation, led by homicide detectives from the Met’s Specialist Crime Command, used CCTV and mobile phone analysis to identify the five men involved in the attack.

    Detectives discovered that one of the cars had travelled to the address four days before on a reconnaissance trip.

    A police search dog also helped provide vital evidence to secure the conviction of a man for murder.

    Dog handler PC Neil Dobson and a police dog called Monty searched managed to find £8,000 in cash hidden in the headboard of a bed that had not been found by the group.

    Following a trial at the Old Bailey, Reuben Bernard, 19, (22.03.05) of Wootton, Northampton, was convicted of murder.

    On Tuesday, 29 October, Bernard was sentenced to life imprisonment, to serve 22 years. He was also sentenced to seven years for conspiracy to rob and three years for causing grievous bodily harm; these sentences will be served concurrently.

    Detective Chief Inspector Neil Rawlinson said: “The violence used in this attack was calculated, vicious and unrelenting.

    “The five men that have been sentenced had planned to rob Olsi and were prepared to use any force necessary in order to get what they wanted.

    “We continue to pursue lines of enquiry that may provide evidence as to the involvement of other people in this atrocious act of violence.”

    Four other men have been sentenced for their involvement. They are:

    Santana Thompson, 21 (04.02.03), of Aldriche Way was sentenced to 10 years in prison for Olsi’s manslaughter, 10 years for conspiracy to rob and one year for Section 20 wounding.

    Daige Ramsey, 25 (30.11.98) of Winchester Road, E4 was convicted of the manslaughter of Olsi Kuka and jailed for 11 years. He was also sentenced to 10 years for conspiracy to rob and 12 months for section 20 wounding.

    Ozan Seran 29 (05.06.95), of no fixed address pleaded guilty to manslaughter and was sentenced to 12-and-a-half years’ imprisonment. He was also sentenced to 11-and-a-half years for conspiracy to rob and nine months for section 20 wounding.

    Bulent Bakir, 27 (05.01.97) of Old Road, Enfield, was convicted of conspiracy to rob and sentenced to six years.

    MIL Security OSI

  • MIL-OSI Security: Dartmouth — Nova Scotia RCMP release impaired statistics for July to September 2024

    Source: Royal Canadian Mounted Police

    As Nova Scotia’s provincial police, road safety is a top priority for the Nova Scotia RCMP. For the months of July, August, and September, 274 drivers in the province were charged with impaired-related offences.

    • 234 charged with Impaired Operation of a Conveyance by Alcohol
    • 12 charged with Impaired Operation of a Conveyance by Drug
    • 28 charged with Refusal of a Demand Made by a Peace Officer

    In addition to investigations that resulted in charges, a further 130 people were issued administrative driving suspensions for Operating a Conveyance While Having Consumed Alcohol.

    Failure or refusal to comply with a peace officer’s request to provide a sample for sobriety testing can result in criminal charges that have the same penalties as impaired driving. There are a range of fines and periods of driving prohibition for those convicted of driving under the influence of alcohol or drugs.

    Citizens are asked to call 911 immediately if they see a driver who’s driving erratically or unsafely. Here are some signs that an impaired driver might be behind the wheel:

    • Driving unreasonably fast, slow or at an inconsistent speed
    • Drifting in and out of lanes
    • Tailgating and changing lanes frequently
    • Making exceptionally wide turns
    • Changing lanes or passing without sufficient clearance
    • Overshooting or stopping well before stop signs or stop lights
    • Disregarding signals and lights
    • Approaching signals or leaving intersections too quickly or slowly
    • Driving without headlights, failing to lower high beams or leaving turn signals on

    The 911 dispatcher will ask for:

    • Your location
    • A description of the vehicle, including the licence plate number, colour, make and model
    • The direction of travel for the vehicle
    • A description of the driver if visible

    The Nova Scotia RCMP asks motorists to plan ahead and drive sober.

    MIL Security OSI

  • MIL-OSI Economics: grmcapitalspro.com: BaFin investigates the company GRMcapitalsPRO

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) warns consumers about the company GRMcapitalsPRO and the services it is offering. BaFin has information that the company is offering banking business and/or financial services in Germany on its website grmcapitalspro.com without the required authorisation. The company is not supervised by BaFin.

    Financial services may only be offered in Germany if the company providing these services has the necessary authorisation from BaFin to do this. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.

    Theinformation provided by BaFin is based on section 37 (4) of the German Banking Act (KreditwesengesetzKWG).

    Please be aware:

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

    MIL OSI Economics

  • MIL-OSI Global: Simple science summaries written by AI help people understand research and trust scientists

    Source: The Conversation – USA – By David Markowitz, Associate Professor of Communication, Michigan State University

    Smoothing out the complexity can help with comprehension. kislev/iStock via Getty Images Plus

    Artificial intelligence-generated summaries of scientific papers make complex information more understandable for the public compared with human-written summaries, according to my recent paper published in PNAS Nexus. AI-generated summaries not only improved public comprehension of science but also enhanced how people perceived scientists.

    I used a popular large language model, GPT-4 by OpenAI, to create simple summaries of scientific papers; this kind of text is often called a significance statement. The AI-generated summaries used simpler language – they were easier to read according to a readability index and used more common words, like “job” instead of “occupation” – than summaries written by the researchers who had done the work.

    In one experiment, I found that readers of the AI-generated statements had a better understanding of the science, and they provided more detailed, accurate summaries of the content than readers of the human-written statements.

    I also investigated what effects the simpler summaries might have on people’s perceptions of the scientists who performed the research. In this experiment, participants rated the scientists whose work was described in the simpler texts as more credible and trustworthy than the scientists whose work was described in the more complex texts.

    In both experiments, participants did not know who wrote each summary. The simpler texts were always AI-generated, and the complex texts were always human-generated. When I asked participants who they believed wrote each summary, they ironically thought the more complex ones were written by AI and simpler ones were written by humans.

    It can feel like you need a Ph.D. to understand science research published in a journal.
    R.Tsubin/Moment via Getty Images

    Why it matters

    Have you ever read about a scientific discovery and felt like it was written in a foreign language? If you’re like most Americans, new scientific information is probably hard to understand – especially if you try to tackle a science article in a research journal.

    In an era where scientific literacy is crucial for informed decision-making, the abilities to communicate and grasp complex ideas are more important than ever. Trust in science has been declining for years, and one contributing factor may be the challenge of understanding scientific jargon.

    This research points to a potential solution: using AI to simplify science communication. By making scientific content more approachable, this work demonstrates that AI-generated summaries may help to restore trust in scientists and, in turn, encourage greater public engagement with scientific issues. The question of trust is particularly important, as people often rely on science in their daily lives, from eating habits to medical choices.

    What still isn’t known

    As AI continues to evolve, its role in science communication may expand, especially if using generative AI becomes more commonplace or sanctioned by journals. Indeed, the academic publishing field is still establishing norms regarding the use of AI. By simplifying scientific writing, AI could contribute to more engagement with complex issues.

    While the benefits of AI-generated science communication are perhaps clear, ethical considerations must also be considered. There is some risk that relying on AI to simplify scientific content may remove nuance, potentially leading to misunderstandings or oversimplifications. There’s always the chance of errors, too, if no one pays close attention.

    Additionally, transparency is critical. Readers should be informed when AI is used to generate summaries to avoid potential biases.

    Simple science descriptions are preferable to and more beneficial than complex ones, and AI tools can help. But scientists could also achieve the same goals by working harder to minimize jargon and communicate clearly – no AI necessary.

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

    ref. Simple science summaries written by AI help people understand research and trust scientists – https://theconversation.com/simple-science-summaries-written-by-ai-help-people-understand-research-and-trust-scientists-241105

    MIL OSI – Global Reports

  • MIL-OSI Global: Fighting antibiotic resistance at the source – using machine learning to identify bacterial resistance genes and the drugs to block them

    Source: The Conversation – USA – By Abdullahi Tunde Aborode, Mississippi State University

    Current methods of identifying resistance mutations in microbes can miss other ways resistance can develop. koto_feja/iStock via Getty Images Plus

    Antibiotic resistance is a growing public health problem around the world. When bacteria like E. coli no longer respond to antibiotics, infections become harder to treat.

    To develop new antibiotics, researchers typically identify the genes that make bacteria resistant. Through laboratory experiments, they observe how bacteria respond to different antibiotics and look for mutations in the genetic makeup of resistant strains that allow them to survive.

    While effective, this method can be time-consuming and may not always capture the full picture of how bacteria become resistant. For example, changes in how genes work that don’t involve mutations can still influence resistance. Bacteria can also exchange resistance genes between each other, which may not be detected if only focusing on mutations within a single strain.

    My colleagues and I developed a new approach to identify E. coli resistance genes by computer modeling, allowing us to design new compounds that can block these genes and make existing treatments more effective.

    Identifying resistance

    To predict which genes contribute to resistance, we analyzed the genomes of various E. coli strains to identify genetic patterns and markers associated with resistance. We then used machine learning algorithms trained on existing data to highlight novel genes or mutations shared across resistant strains that might contribute to resistance.

    E. coli is one of many bacterial species developing resistance to common antibiotics.
    National Institute of Allergy and Infectious Diseases/National Institutes of Health via Flickr, CC BY-NC

    After identifying resistance genes, we designed inhibitors that specifically target and block the proteins these genes produce. By analyzing the structure of the proteins these genes code for, we were able to optimize our inhibitors to strongly bind to these specific proteins.

    To reduce the likelihood that bacteria would evolve resistance to these inhibitors, we targeted regions of their genome that code for proteins critical to their survival. By interfering with how bacteria carry out important functions, it makes it more difficult for them to develop mechanisms to compensate. We also prioritized compounds that work differently from existing antibiotics to minimize cross-resistance.

    Finally, we tested how effectively our inhibitors could overcome antibiotic resistance in E. coli. We used computer simulations to assess how strongly a number of inhibitors bind to target proteins over time. One inhibitor called hesperidin was able to strongly bind to the three genes in E. coli involved in resistance that we identified, suggesting it may be able to help combat antibiotic-resistant strains.

    A global threat

    The World Health Organization ranks antimicrobial resistance as one of the top 10 threats to global health. In 2019, bacterial antibiotic resistance killed an estimated 4.95 million people worldwide.

    By targeting the specific genes responsible for resistance to existing drugs, our approach could lead to treatments for challenging bacterial infections that are not only more effective but also less likely to contribute to further resistance. It can also help researchers keep up with bacterial threats as they evolve.

    Some microbes can transfer resistance to other microbes.

    Our predictive approach could be adapted to other bacterial strains, allowing for more personalized treatment strategies. In the future, doctors could potentially tailor antibiotic treatments based on the specific genetic makeup of the bacteria causing the infection, potentially leading to better outcomes.

    As antibiotic resistance continues to rise globally, our findings may provide a crucial tool in the fight against this threat. Further development is needed before our methods can be used in the clinic. But by staying ahead of bacterial evolution, targeted inhibitors could help preserve the efficacy of existing antibiotics and reduce the spread of resistant strains.

    Nothing to disclose.

    ref. Fighting antibiotic resistance at the source – using machine learning to identify bacterial resistance genes and the drugs to block them – https://theconversation.com/fighting-antibiotic-resistance-at-the-source-using-machine-learning-to-identify-bacterial-resistance-genes-and-the-drugs-to-block-them-237919

    MIL OSI – Global Reports

  • MIL-OSI China: Chinese organization expresses ‘great regret’ after EU’s Chinese EVs tariff ruling

    Source: China State Council Information Office

    The China Chamber of Commerce for Import and Export of Machinery and Electronic Products on Wednesday expressed “great regret” on behalf of the Chinese automotive industry at the European Commission’s decision to impose anti-subsidy tariffs on electric vehicles originating in China. 

    MIL OSI China News

  • MIL-OSI China: Direct all-cargo air route links China’s Hubei, Hong Kong

    Source: China State Council Information Office

    A direct all-cargo air route between Hubei Province in central China and Hong Kong Special Administrative Region was launched on Wednesday, according to SF Airlines.

    On Wednesday morning, a Boeing 737-400 freighter took off from the Ezhou Huahu International Airport in Hubei, China’s first cargo-focused airport. It is also the airport’s first all-cargo route to Hong Kong, said the cargo airline.

    Three round-trip flights are scheduled to shuttle on this route every week, providing about 100 tonnes of air transport capacity weekly.

    This direct air route will provide air express capacity to this year’s Double Eleven online shopping festival, also known as the Singles’ Day shopping festival and a Chinese version of Black Friday.

    It will help facilitate transportation of e-commerce express and enhance consumption experience for customers, said SF Airlines.

    Headquartered in Shenzhen, SF Airlines is China’s largest air cargo carrier in fleet size. To date, it has cultivated an international route network from Ezhou Huahu International Airport to totalling more than 60 destinations at home and abroad, said the cargo carrier.

    MIL OSI China News

  • MIL-OSI China: China’s first ‘smart factory’ for offshore oil, gas equipment fully operational

    Source: China State Council Information Office

    China’s first intelligent manufacturing base for offshore oil and gas equipment was put into full operation on Wednesday in north China’s Tianjin Municipality.

    Covering an area of about 575,000 square meters, this base built along the coast of the Bohai Sea focuses on producing offshore oil and gas platforms and high-end offshore products such as liquefied natural gas modules, according to its constructor China Offshore Oil Engineering Company (COOEC), a subsidiary of the China National Offshore Oil Corporation.

    The base consists of four intelligent production workshops, eight production auxiliary centers, 16 final assembly stations and core facilities such as docks facilitating product transportation via large ships. There are also over 600 intelligent production machines at this base.

    Compared to the traditional manufacturing process, a series of operations such as material retrieval, pipe coiling, cutting and hydraulic bending can be achieved via a single click through an intelligent manufacturing management platform available at the Tianjin facility.

    According to Wang Lei, one of the senior executives of the Tianjin branch of COOEC, there are a variety of offshore oil and gas equipments, and in the past, producing them featured complicated manufacturing processes, and customized and non-standard requirements.

    As a result, COOEC opted to develop an intelligent manufacturing management platform to achieve intelligent production under complex conditions, said Wang. “More manufacturing processes are now achieved through the use of equipment, while only a small number of workers are needed to undertake detail adjustment tasks.”

    The base was constructed in two phases. The first phase of the project was put into use in June 2022, and delivered 35 offshore oil and gas platforms to countries such as China and Canada, with total weight exceeding 87,000 tonnes.

    In the second construction phase of this project, eight final assembly stations and an intelligent pipe production line were added, while the capacity of docks was increased.

    “Production efficiency achieved by the intelligent pipe production line has increased by about 20 percent when compared to what was possible in the first phase, and the overall production capacity of the factory has doubled through digital intelligent manufacturing and precise management,” Wang revealed.

    In 2023, China’s offshore crude oil production had exceeded 62 million tonnes, a year-on-year increase of 3.4 million tonnes — accounting for about 70 percent of China’s total crude oil production increase last year. 

    MIL OSI China News

  • MIL-OSI China: Collapse of gold mine in Afghanistan leaves 3 dead

    Source: China State Council Information Office

    At least three miners were killed following the collapse of a gold mine in northern Afghanistan’s Badakhshan province, the provincial police office has said.

    The accident occurred in the mountainous area of the province’s Arghanchkhwa district. The bodies of the victims were recovered by local residents and a rescue team.

    Badakhshan is a remote and mountainous province of Afghanistan, home to numerous untouched mines, especially gold and lapis lazuli mines, some of which are extracted with no modern facilities or equipment. 

    MIL OSI China News

  • MIL-OSI China: US candidates neck-and-neck a week before elections

    Source: China State Council Information Office

    The race for the White House is neck and neck just a week before Americans cast their ballots for the next president.

    Republican candidate Donald Trump leads Democratic candidate Kamala Harris by an average of 0.4 percentage points in national polls as of Tuesday, according to the U.S. election information website Real Clear Politics.

    Trump leads by just a hair in many swing states, including Georgia, Arizona, Pennsylvania, Wisconsin and North Carolina, while Harris leads by half a point in Michigan.

    The swing states are likely to determine the election outcome, and both candidates have been actively campaigning there, attending rallies to present their case to voters.

    “The presidential race remains tight, but Harris has been outspending Trump by a 2 or 3 to 1 margin in advertising,” Brookings Institution Senior Fellow Darrell West told Xinhua.

    Inflation and the economy are among the main issues. While President Joe Biden and Vice President Harris have overseen an economy with low unemployment, many voters are outraged over the high prices that have taken hold during the current administration.

    Besides, Trump’s campaign has been accusing the Biden-Harris administration of leading to a major increase in crime in urban areas.

    Stores are now locking up their merchandise, as shoplifters brazenly fill up garbage bags full of goods and simply walk out of the store without paying. Drug addicts shoot up heroin and other hard drugs in broad daylight in many cities. They harass and physically assault passersby, and urinate and defecate on sidewalks in downtown areas.

    At the same time, Trump has ruffled several feathers, as he is known to do, with what critics call incendiary rhetoric.

    Critics also blasted Trump for his plan to launch the mass deportation operation of millions of immigrants who illegally poured over the border since the current administration took office. Trump’s critics fear this could lead to problems including breaking up families and giving law enforcement too much power.

    It remains unknown what undecided voters will do.

    “Many undecided voters will not vote at all,” Clay Ramsay, a researcher at the Center for International and Security Studies at the University of Maryland, told Xinhua, adding that the people who are unlikely to vote, based on past elections, accounts for a large percentage of adults. 

    MIL OSI China News

  • MIL-OSI China: Russia says U.S. actions against Russian reporters violate freedom of information

    Source: China State Council Information Office

    Washington’s recent actions against Russian journalists violate the right to access information and media pluralism, Russian Foreign Ministry spokesperson Maria Zakharova said Wednesday.

    A film crew from Russia’s Izvestia newspaper, who arrived in Washington to cover the upcoming presidential election, was detained and subjected to hours of interrogation on Tuesday night, resulting in one member being expelled from the country, the Foreign Ministry said in a statement.

    Zakharova noted that the Russian journalists had notified U.S. authorities of their intentions and received permission before their arrival, adding that this reflects the United States’ readiness to use repressive measures against inconvenient information.

    “The arbitrariness of the American authorities will not remain without a proper reaction on our part,” Zakharova said. 

    MIL OSI China News